Document:

Exhibit
10.01

 

	 	 	 
	 	 	520 Broad Street

Newark, NJ 07102

 

September
10, 2021

 

VIA EMAIL 

 

Patrick Fabbio

Via email

 

Dear Patrick,

 

It is our
pleasure to offer you a position at Rafael Holdings, Inc. (“Rafael” or the “Company”). This letter agreement (the
“Letter Agreement”) outlines the terms of your employment at the Company as follows:

 

		1.	Position and Duties:

 

			You will work as Chief Financial Officer of the Company and, upon approval by the Board of Directors
                                                                           of the Company, you shall serve as an executive officer of the Company. In this role, you will have the duties and responsibilities
                                                                           customary for a chief financial officer of a similarly situated entity to the Company (the “Position”), reporting to the
                                                                           Chief Executive Officer or to such other person as designated by the Company from time to time (in either case, as relevant, your
                                                                           “Supervisor”). This is a full-time position for which you agree to devote one hundred percent of your working hours. You
                                                                           will work at the Company’s 520 Broad Street, Newark, NJ headquarters, or such other location designated by the Company, on a
                                                                           regular basis, and you will travel for purposes of Company business, in accordance with the Company’s needs, as such needs are
                                                                           determined by your Supervisor.

 

			Notwithstanding the foregoing, with the prior written consent of the CEO (which consent shall not be
                                                                           unreasonably withheld), you shall be permitted to act or serve as a consultant, director, trustee, or committee member of any type
                                                                           of business, civic, or charitable organization, provided that such activities do not, individually or in the aggregate, create a
                                                                           potential or actual conflict with the interests of the Company or materially interfere with your service to the Company or duties
                                                                           hereunder (in each case, as determined by the CEO)

 

		2.	Term:

 

			Youremployment at the Company will commence on September 13th,
2021 (the “Start Date”). Please note that your employment shall be at will and shall not be for any set or fixed period of
time, and shall continue until terminated by either you or the Company in accordance with Section 7 below (your period of employment
at the Company, the “Term”).

 

		3.	Compensation: 

 

			During the Term, you will be compensated at an annual base salary rate of $425,000.00 (the
                                                                                “Base Salary”), which will be paid to you on a prorated basis less payroll deductions and required withholdings, in
                                                                                accordance with the Company’s standard payroll procedures. Your position is classified as exempt for purposes of relevant
                                                                                wage-hour law and therefore you will not be entitled to overtime pay.

 

     

     

    

 

	 	 	 
	 	 	520 Broad Street

Newark, NJ 07102

 

			In addition to the Base Salary, you will also be eligible for an annual discretionary bonus in an
                                                                                amount up to 40% of your Base Salary (prorated for your initial year of employment), your entitlement to which and any amount
                                                                                thereof to be determined in the sole and absolute discretion of the Company.

 

			In addition, within thirty (30) days of your Start Date you will receive a sign on bonus of $50,000
                                                                            less standard payroll deductions and required withholdings, in accordance with the Company’s payroll procedures (“Sign
                                                                            on Bonus”). Should you resign either (i) “without good reason” or are (ii) terminated “for cause” (in
                                                                            accordance with section 7(b)below) within a one (1) year period from your Start Date you shall be required to return the Sign on
                                                                            Bonus within thirty (30) days of your last date of employment.

 

		4.	Paid Time Off and Benefits:

 

			In addition to Company-designated paid holidays, each calendar year you shall be entitled to take
                                                                            paid time off in accordance with the Company’s applicable policies, as may be updated from time to time, and applicable
                                                                            law.

 

			As a full-time employee of the Company, you will be eligible for health insurance coverage and other
                                                                            employee benefits, in each case as available to similarly situated employees, in accordance with the relevant plans, as such plans
                                                                            are adopted by the Company.

 

			You shall also be entitled to reimbursement for pre-approved business expenses incurred by you in
                                                                            the course of your performance of your duties, as per Company policy, provided that you submit to the Company applicable invoices
                                                                            and other documentation, in form and in substance in accordance with Company policy.

 

		5.	Equity:

 

			Subject to the approval of the Compensation Committee of the Board of Directors of the Company you
                                                                            will be entitled to an initial grant of employee stock options to purchase shares of Class B common stock with a fair market value,
                                                                            based on a Black-Scholes option pricing model of $2,500,000 on the date of grant (the “Options”). The Options shall be
                                                                            submitted for approval at the Company’s next regularly scheduled quarterly Compensation Committee Meeting of the Board of
                                                                            Directors of the Company held post your Start Date, and if approved, granted within thirty (30) days thereafter. The vesting
                                                                            schedule shall be as follows: Options with respect to twenty-five percent (25%) of the underlying shares shall vest on the first
                                                                            anniversary of the grant date and additional Options with respect to two and eight hundred thirty-three thousandths’ percent
                                                                            (2.0833%) (in each case, rounded to a whole number of shares) of the underlying shares shall vest on each monthly anniversary of the
                                                                            first anniversary, so that all Options shall vest by the fourth anniversary of the grant date. The terms and conditions of the grant
                                                                            of the Options shall be as set forth in the Company’s 2018 Stock Option and Incentive Plan, as amended from time to time (the
                                                                            “Plan”) and the related grant agreement and related terms as required by the Company.

 

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	 	 	520 Broad Street

Newark, NJ 07102

 

			All unvested Options shall terminate if your full-time employment with
                                                                            the Company shall cease for any reason. Notwithstanding the foregoing, if, after your Start Date, there is a sale or merger where
                                                                            the Company is not the surviving entity or change in control where more than 50% of the Company is sold (specifically excluding from
                                                                            the definition a sale/merger or change of control where the counterparty is Rafael Pharmaceuticals or a current shareholder or an
                                                                            affiliate of a current shareholder) (“Change of Control”), and you remain continuously employed by the Company through
                                                                            the Change of Control, one hundred percent (100%) of the then unvested Options will become vested and exercisable immediately prior
                                                                            to (and contingent on) the occurrence of the sale or merger.

 

			You will be eligible to receive additional equity grants at the sole discretion of the Compensation
                                                                            Committee of the Board.

 

		6.	Company Property:

 

			During the Term, the Company may provide you with the benefit of using Company property, such as,
                                                                            but not limited to, a Company-provided laptop. You are obligated to use such Company property in accordance with Company guidelines,
                                                                            and to return any such property to the Company upon the Company’s request, but in any case, upon the termination of your
                                                                            employment, regardless of the reason for such termination.

 

		7.	Termination:

 

			Your employment at the Company may be terminated as set forth below:

 

(a) Death;
Disability. Your employment at the Company shall terminate upon your death or, as permitted by law, “Disability” (as hereafter
defined). Upon any such termination, you (or, in the event of your death, your estate) shall receive the Base Salary and all benefits
as generally eligible, in each case through the Date of Termination (as hereafter defined). You (and, in the event of your death,
your estate) shall not be entitled to any other amounts or benefits from the Company other than as set forth in this Section 7(a). For
purposes of this Letter Agreement, “Disability” shall mean your inability to perform your duties on account of a physical
or mental illness for a period of sixty (60) consecutive days or ninety (90) days in any six (6) month period. Notwithstanding anything
contained herein to the contrary, during any period of disability, the Company shall not be obligated to pay any compensation or other
amounts to you.

 

(b) Termination
for Cause/Resignation without Good Reason. The Company may terminate your employment at the Company at any time without advance notice
for “Cause” and you may terminate your employment at the Company without “Good Reason” (as hereafter defined)
upon thirty (30) days’ written notice from you to the Company in accordance with Section 7(e) below. For purposes of this Letter
Agreement, the Company shall have Cause to terminate your employment upon your:

 

		(i)	commission of fraud, theft, embezzlement, self-dealing, misappropriation, gross negligence, malfeasance,
or an act or acts constituting a felony under the laws of the United States or any state thereof;

 

		(ii)	commission of willful or negligent acts or omissions which result in an assessment of a civil or criminal
penalty against you, the Company, or its affiliates;

 

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	 	 	520 Broad Street

Newark, NJ 07102

 

		(iii)	commission of acts or omissions constituting gross negligence or gross misconduct in the performance of
any aspect of your lawful duties or responsibilities which have or may be expected to have an adverse effect on the Company or its affiliates;

 

		(iv)	commission of any serious offense that results in or would reasonably be expected to result in financial
harm, negative publicity or other material harm to the Company or its affiliates;

 

		(v)	engaging in any act covered by Rule 506(d) of Regulation D under the Securities Act of 1933, as amended,
and/or engaging in any act, or existence of any circumstances that would, in the reasonable judgment of the Company, be harmful to the
Company’s ability to have its common stock be granted approval to list, or continue to be listed, on the NYSE, American, or Nasdaq
exchanges;

 

		(vi)	willful or continued failure to substantially perform your duties hereunder (other than any such failure
resulting from your incapacity due to physical or mental illness or disability), after written notice has been delivered to you by the
Company identifying the manner in which you have not substantially performed your duties;

 

		(vii)	willful or continued failure to perform an act permitted by the Company’s rules, policies, or procedures,
including without limitation, the Company’s Code of Business Conduct and Ethics that is within your material duties hereunder (other
than by reason of physical or mental illness or disability) or directives of the Company’s Board of Directors, or material breach
of the terms of this Letter Agreement, of the Non-Disclosure and Non-Competition Agreement attached hereto as Schedule A, or Company policy;

 

		(viii)	breach of any fiduciary duty owed to the Company or its affiliates;

 

		(ix)	misappropriation of the Company’s or its affiliates’ funds or property;

 

		(x)	extended unexcused absence;

 

		(xi)	failure to provide to the Company, within the first three (3) business days of employment, documentation
that you are authorized to work in the United States, in accordance with applicable law; or

 

		(xii)	knowing and intentional misrepresentation or concealment of material information regarding the Company
from the Company’s Board and/or the Supervisor.

 

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	 	 	520 Broad Street

Newark, NJ 07102

 

In the event that the Company
terminates your employment for Cause or you resign from the Company without Good Reason: (i) you shall receive the Base Salary and benefits
as generally eligible, in each case through the Date of Termination and (ii) the Company shall have the right to determine whether or
not you will actively work for the Company during any notice period. You shall not be entitled to any other amounts or benefits from the
Company other than as set forth in this Section 7(b).

 

(c) Termination
without Cause. Your employment at the Company may be terminated by the Company without Cause upon five (5) business days’ written
notice to you in accordance with Section 7(e) below. In the event of the your termination by the Company without Cause: (i) you shall
receive the Base Salary and all eligible benefits, in each case through the Date of Termination, (ii) the Company shall have the right
to determine whether or not you will actively work for the Company during the notice period, and (iii) provided that you execute and deliver
a separation and release agreement in a form acceptable to the Company within twenty-one (21) days after the Date of Termination (unless
applicable law requires a longer time period, in which case this date will be extended to the minimum time required by applicable law
and such 21-day or extended period, as applicable, the “Release Execution Period”) and do not revoke such agreement,
you will receive, as severance pay (A) if your Date of Termination is on or prior to the first anniversary of the Start Date and not within
six months following a Change of Control, continuation of your Base Salary for three (3) months, (B) if your Date of Termination is after
the first anniversary of the Start Date and not within six months following a Change of Control, continuation of your Base Salary for
six (6) months, or (C) if your Date of Termination is within six months following a Change of Control, continuation of your Base Salary
twelve (12) months, in each case payable, subject to Section 11 hereof, on a prorated basis in accordance with the Company’s regular
payroll schedule. You shall not be entitled to any other amounts or benefits from the Company other than as set forth in this Section
7(c).

 

(d) Resignation
by You for Good Reason. Your employment at the Company may also be terminated by you for Good Reason if (x) you have given
written notice to the Company of the existence of Good Reason no later than thirty (30) days after its initial existence, (y) the Company
has not remedied such Good Reason in all material respects within thirty (30) days after its receipt of such written notice, and (z) you
provide written notice of your resignation to the Company in accordance with Section 7(e) hereunder within seventy-five (75) days following
the initial existence of such Good Reason. In the event of your termination of your employment for Good Reason: (i) you shall receive
the Base Salary and all benefits as generally eligible, in each case through the Date of Termination, (ii) the Company shall have the
right to determine whether or not you will actively work for the Company during any notice period, and (iii) provided that you execute
and deliver a separation and release agreement in a form acceptable to the Company within the Release Execution Period (and do not revoke
such agreement), you will receive, as severance pay (A) if your Date of Termination is on or prior to the first anniversary of the Start
Date and not within six months following a Change of Control, continuation of your Base Salary for three (3) months, (B) if your Date
of Termination is after the first anniversary of the Start Date and not within six months following a Change of Control, continuation
of your Base Salary for six (6) months, or (C) if your Date of Termination is within six months following a Change of Control, continuation
of your Base Salary for twelve (12) months, in each case payable, subject to Section 11 hereof, on a prorated basis in accordance with
the Company’s regular payroll schedule. You shall not be entitled to any other amounts or benefits from the Company other than as
set forth in this Section 7(d).

 

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	 	 	520 Broad Street

Newark, NJ 07102

 

As used herein, the term “Good
Reason” shall mean the occurrence of either of the following, without your consent: (i) a material reduction of your authority or
(ii) relocation of your principal place of employment more than fifty (50) miles outside of Newark, New Jersey. Your actions approving
or ratifying any of the foregoing changes (that otherwise may be considered Good Reason) in writing will be considered consent for the
purposes of this Good Reason definition.

 

(e) Notice
of Termination. Your resignation or any termination of your employment by the Company shall be communicated from one party to the
other party by written “Notice of Termination”. Such Notice of Termination shall specify the last day of the Term.

 

(f) Date
of Termination. “Date of Termination” shall mean: (i) if your employment is terminated by your death, the date of your
death, or (ii) if your Employment is terminated for any other reason, the date specified in the Notice of Termination as the last day
of the Term.

 

(g) Transition.
Regardless of the circumstances surrounding your resignation or termination of employment, you hereby agree that upon your resignation
or termination of employment, you will return to the Company all Company property and will make every effort to facilitate the orderly
transition of your duties and responsibilities.

 

		8.	Restrictive Covenants:

 

			As a condition of your employment at the Company, you are obligated to sign and comply with the
                                                                           terms set forth in the Non-Disclosure and Non-Competition Agreement attached to this Letter Agreement as Schedule A (the
                                                                           “NDNC”).

 

		9.	Governing Law and Agreements:

 

			During the period of your employment at the Company, you will be required to abide by all policies
                                                                           of the Company, as established from time to time. The terms of your employment, as well as your post-employment obligations, will be
                                                                           governed by the terms of this Letter Agreement, the NDNC, and applicable law. It is agreed that the terms of this Letter Agreement
                                                                           (including any attachments hereto) constitute the entire understanding between you and the Company regarding the subject matter
                                                                           hereof and supersede any previous understanding or agreement (whether oral or written) between you and the Company, and/or the
                                                                           Company’s management.

 

			The Company shall have the right to assign its rights and obligations under this Letter Agreement to
                                                                           any individual, entity, corporation, or partnership that succeeds to all or a portion of the relevant business or assets of the
                                                                           Company. This Letter Agreement is personal to you, and you may not assign your rights and obligations under this Letter Agreement to
                                                                           any third party.

 

			By your signature below, you represent that you are not bound by any agreement, whether oral or
                                                                           written, with a third party, where such agreement would in any way limit your ability to perform your obligations under this Letter
                                                                           Agreement, and you agree that at no time during your employment with the Company will you undertake responsibilities or obligations
                                                                           that will present a conflict of interest with, or limit your ability to fulfil the duties of, your position at the Company.

 

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	 	 	520 Broad Street

Newark, NJ 07102

 

		10.	Notices:

 

			All notices and other communications under this Letter Agreement shall be in writing and shall be
                                                                           given by hand, by email, or by first class mail, certified or registered with return receipt requested, and shall be deemed to have
                                                                           been duly given three (3) days after mailing, twenty-four (24) hours after transmission of an email, or immediately upon hand
                                                                           delivery or explicit acknowledgement of receipt.

 

		11.	Section 409A of the Internal Revenue Code of 1986 as amended:

 

			You and the Company hereby affirm that with respect to any and all payments and benefits under this
                                                                           Letter Agreement, the intent is that such payments and benefits either: (i) do not constitute “nonqualified deferred
                                                                           compensation” within the meaning of Section 409A of the Internal Revenue Code (“Section 409A”), and therefore are
                                                                           exempt from Section 409A, (ii) are subject to a “substantial risk of forfeiture” and are exempt from Section 409A under
                                                                           the “short−term deferral rule” set forth in Treasury Regulation §1.409A−1(b)(4), or (iii) are in
                                                                           compliance with the terms of 409A. In any event, you and the Company further confirm that they intend to have all provisions of this
                                                                           Letter Agreement construed, interpreted and administered in a manner consistent with the requirements for avoiding taxes or
                                                                           penalties under Section 409A. By way of example, and not limitation, solely for purposes of determining the time and form of
                                                                           payments, which are subject to Section 409A, due you under this Letter Agreement in connection with your termination of employment
                                                                           with the Company, you shall not be deemed to have incurred a termination of employment unless and until you shall incur a
                                                                           “separation from service” within the meaning of Section 409A. Each amount or installment to be paid or benefit to be
                                                                           provided under this Letter Agreement shall be construed as a separate and distinct payment for purposes of Section 409A. Without
                                                                           limiting the foregoing and notwithstanding anything contained herein to the contrary, to the extent required to avoid accelerated
                                                                           taxation and/or tax penalties under Section 409A, amounts that would otherwise be payable and benefits that would otherwise be
                                                                           provided pursuant to this Letter Agreement or any other arrangement between you and the Company during the six (6) month period
                                                                           immediately following your separation from service shall instead be paid on the first business day after the date that is six (6)
                                                                           months following your separation from service (or, if earlier, your date of death). To the extent required to avoid accelerated
                                                                           taxation and/or tax penalties under Section 409A, amounts reimbursable to you under this Letter Agreement shall be paid to you on or
                                                                           before the last day of the year following the year in which the expense was incurred and the amount of expenses eligible for
                                                                           reimbursement (and in-kind benefits provided to you) during one year may not affect amounts reimbursable or provided in any
                                                                           subsequent year. The Company makes no representation that any or all of the payments described in this Letter Agreement will be
                                                                           exempt from or comply with Section 409A and makes no undertaking to preclude Section 409A from applying to any such payment. You
                                                                           understand and agree that you shall be solely responsible for the payment of any taxes, penalties, interest or other expenses
                                                                           incurred by you on account of non-compliance with Section 409A.

 

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	 	 	520 Broad Street

Newark, NJ 07102

 

		12.	Dispute Resolution:

 

			In the event of a dispute between you and the Company arising out of or related to your employment
                                                                           with the Company (with the exception of disputes arising under the NDNC set forth in Schedule A and claims that pursuant to
                                                                           applicable law a party is prohibited from requiring another party to agree to submit to arbitration), you and the Company agree to
                                                                           exclusively settle such dispute by means of arbitration pursuant to the Federal Arbitration Act, administered by the American
                                                                           Arbitration Association (“AAA”), with such arbitration to take place in New Jersey or another mutually agreed upon
                                                                           location and to be conducted in accordance with the AAA’s Employment Arbitration Rules. In such arbitration, a single
                                                                           arbitrator, appointed by the mutual agreement of you and the Company: (i) shall not amend or modify the terms of this Letter
                                                                           Agreement or of any Company policy, and (ii) shall render a decision within ten (10) business days from the later of closing
                                                                           statements or submission of post-hearing briefs by the parties. The arbitration award shall be final and binding, and any state or
                                                                           federal court shall have jurisdiction to enter a judgment on such award. It is understood that this requirement to arbitrate
                                                                           disputes means that by signing below, you and the Company specifically waive any right either party may have to a trial by jury in a
                                                                           court of law with respect to all claims and demands arising out of or related to your employment with the Company, including,
                                                                           without limitation, any rights you may assert under any federal, state, or local laws or regulations applicable to your employment
                                                                           with the Company (with the exception of disputes arising under the NDNC set forth in Schedule A and claims that pursuant to
                                                                           applicable law a party is prohibited from requiring another party to agree to submit to arbitration). For the avoidance of doubt,
                                                                           the parties acknowledge and agree that the existence of a claim by a party that is not subject to arbitration pursuant to this
                                                                           paragraph shall not impair the enforceability of this paragraph with respect to any other claim brought by that party.
                                                                           Notwithstanding the foregoing, nothing in this paragraph shall be interpreted to mean that you cannot file a charge with the Equal
                                                                           Employment Opportunity Commission and/or the National Labor Relations Board or any comparable federal, state, or local governmental
                                                                           agency.

 

The terms
of this Letter Agreement are conditional upon your providing to the Company, within your first three (3) days of employment, a completed
I-9 form accompanied by documentation that you are authorized to work in the United States, in accordance with applicable law. In addition,
the Company reserves the right to conduct a background check, and your employment at the Company shall be conditional upon the results
of such background check, in each case accordance with applicable law. If the Company determines not to have you commence employment based
on the results of a background check (in accordance with all requirements of applicable law), your employment relationship with the Company
shall be null and void, and the Company shall have no further obligations to you whatsoever.

 

We are excited to have you join
us as a member of the Rafael team.

 

To accept
this offer of employment and the terms and conditions hereof, please sign this Letter Agreement below and the attached Schedule A (and
Exhibit A thereto) in the spaces provided and return all signed documents to David Polinsky at David.polinsky@rafaelholdings.com.

 

	 	Very truly yours, 
	 	 
	 	/s/ Ameet Mallik
	 	Ameet Mallik
	 	Chief Executive Officer

 

	AGREED TO AND ACCEPTED BY:	/s/ Patrick Fabbio
		Patrick Fabbio

 

	DATE:  	9/10/21	 

 

 

8EX-4.5

 Exhibit 4.5 

WARRANT ASSIGNMENT, ASSUMPTION AND AMENDED & RESTATED AGREEMENT 

between 
 KENSINGTON CAPITAL
ACQUISITION CORP. II 
 and 

CONTINENTAL STOCK TRANSFER & TRUST COMPANY 

THIS ASSIGNMENT, ASSUMPTION AND AMENDED & RESTATED WARRANT AGREEMENT (this “Agreement”), dated as
of                , 2021 (the “Effective Date”), is by and between Kensington Capital Acquisition Corp. II (“KCAC”),
Wallbox, N.V., a public company with limited liability (naamloze vennootschap) incorporated under the laws of the Netherlands, having its official seat in Amsterdam, the Netherlands and registered with the Dutch trade register under number
83012559 (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, KCAC and the Warrant Agent are parties to that certain Warrant Agreement, dated as of
February 25, 2021 (the “Existing Warrant Agreement”); 
 WHEREAS, in accordance with Section 9.8 of
the Existing Warrant Agreement, KCAC and the Warrant Agent agree to amend and restate the Existing Warrant Agreement in its entirety as contemplated hereunder; 

WHEREAS, on February 25, 2021, KCAC entered into that certain Private Placement Warrants Purchase Agreement with Kensington Capital
Sponsor II, LLC, a Delaware limited liability company (the “Sponsor”), pursuant to which the Sponsor will purchase 8,000,000 redeemable warrants (or up to 8,800,000 redeemable warrants if the Over-allotment Option (as defined
below) in connection with the Offering (as defined below) is exercised in full) simultaneously with the closing of the Offering (the “Private Placement Warrants”) at a purchase price of $0.75 per Private Placement Warrant;
and 
 WHEREAS, in order to finance KCAC’s transaction costs in connection with an intended initial Business Combination (as
defined below), the Sponsor or an affiliate of the Sponsor or certain KCAC’s officers and directors may, but are not obligated to, loan KCAC funds as KCAC required, of which up to $2,000,000 of such loans were convertible into up to an
additional 2,666,666 Private Placement Warrants at a price of $0.75 per warrant (the “Working Capital Warrants”); and 

WHEREAS, KCAC engaged in an initial public offering (the “Offering”) of units of the KCAC’s equity
securities, each such unit comprised of one share of Common Stock (as defined below) and one-fourth of one Public Warrant (as defined below) (the “Units”) and, in connection therewith,
has determined to issue and deliver up to 5,000,000 warrants (or up to 5,750,000 warrants if the Over-allotment Option is exercised in full) to public investors in the Offering (the 

 
“Public Warrants” and, together with the Private Placement Warrants and the Working Capital Warrants, the “Warrants”). Each whole Warrant entitles
the holder thereof to purchase one share of Class A common stock of KCAC, par value $0.0001 per share (“Common Stock”), for $11.50 per share, subject to adjustment as described herein; 

WHEREAS, on June 9, 2021, the Company, Orion Merger Sub Corp., a Delaware corporation and a wholly-owned subsidiary of the Company
(“Merger Sub”), Wall Box Chargers, S.L., a Spanish limited liability company (sociedad limitada) (“Wallbox”) and KCAC entered into that certain Business Combination Agreement (the
“BCA”); 
 WHEREAS, upon the terms and subject to the conditions of the BCA, on the Effective Date
(a) each holder of Wallbox securities will take steps to exchange by means of a contribution in kind its Wallbox securities in exchange for the issuance of shares of the Company, as a result of which Wallbox will become a wholly-owned
subsidiary of the Company, (b) each holder of KCAC common stock will take steps to exchange by means of a contribution in kind its KCAC common stock in exchange for the issuance of shares of the Company and (c) Merger Sub will merge with
and into KCAC (the “Merger”), with KCAC continuing as the surviving company after the Merger, as a result of which, KCAC will become a direct, wholly-owned subsidiary of the Company; 

WHEREAS, upon consummation of the Merger, as provided in Section 4.4 of the Existing Warrant Agreement, (i) the Public
Warrants and Private Placement Warrants issued thereunder will no longer be exercisable for Class A common stock, $0.0001 par value per share, of KCAC (“KCAC Class A Shares”) but instead
will be exercisable (subject to the terms and conditions of the Existing Warrant Agreement as amended hereby) for a number of Class A ordinary shares of of the Company with a nominal value of €0.12 (the “Ordinary
Shares”) equal to the number of KCAC Class A Shares for which such warrants were exercisable immediately prior to the Merger subject to adjustment as described herein (such warrants as so adjusted and amended, the
“Warrants”) and (ii) the Warrants shall be assumed by the Company; 
 WHEREAS, in connection with the
transactions contemplated by the BCA, KCAC desires to assign to the Company, and the Company’s desires to assume, all of KCAC’s rights, interests and obligations under the Existing Warrant Agreement; 

WHEREAS, the consummation of the transactions contemplated by the BCA will constitute a Business Combination (as defined in
Section 3.2 of the Existing Warrant Agreement); 
 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; 

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 (if a physical certificate is issued), 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. Assignment and Assumption; Amendment; Appointment of Warrant Agent. 

1.1 KCAC hereby assigns to the Company all of KCAC’s right, title and interest in and to the Existing Warrant Agreement and the
Warrants (each as amended hereby) as of the Effective Time. The Company hereby assumes, and agrees to pay, perform, satisfy and discharge in full, as the same become due, all of KCAC’s liabilities and obligations under the Existing Warrant
Agreement and the Warrants (each as amended hereby) arising from and after the Effective Time. 
 1.2 KCAC and the Warrant Agent hereby amend
the Existing Warrant Agreement, and the Warrants issued thereunder, in its entirety in the form of this Agreement as of the Effective Time. 

1.3 The Company hereby confirms the appointment of 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 was issued in registered form only. All of the Public Warrants are
represented by one or more book-entry certificates (each, a “Book-Entry Warrant Certificate”). 
 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 represented by such physical 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. 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. 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 institutions that have accounts with the Depository Trust Company (the “Depositary”) (such institution, with respect to a Warrant in its account, a “Participant”). 

 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 its sole discretion, the Company may instruct the 

Warrant Agent to deliver to the Depositary (i) written instructions to deliver to the Warrant Agent for cancellation each Book-Entry Public Warrant and
(ii) definitive certificates in physical form evidencing such Warrants (each, a “Definitive Warrant Certificate”) which shall be in the form annexed hereto as Exhibit A. 

Physical certificates, if issued, shall be signed by, or bear the facsimile signature of, the Chairman of the Board, Chief Executive Officer,
Chief Financial Officer, Secretary 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. 

2.3.2 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 any physical 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 [Reserved] 

2.5 No Fractional Warrants. The Company shall not issue fractional Warrants. If 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 and Working Capital Warrants. The Private Placement Warrants and Working Capital Warrants
shall be identical to the Public Warrants, except that so long as they are held by the Sponsor or initial lender, as applicable or any of their respective Permitted Transferees (as defined below), the Private Placement Warrants and Working Capital
Warrants: (i) may be exercised for cash or on a cashless basis, pursuant to subsection 3.3.1(c) hereof, (ii) may not be transferred, assigned or sold until thirty (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 pursuant to Section 6.1 hereof; provided, however, that in the case of (ii), the Private Placement Warrants,
Working Capital Warrants and any Ordinary Shares held by the Sponsor or any of its Permitted Transferees and issued upon exercise of the Private Placement Warrants or Working Capital Warrants may be transferred by the holders thereof: 

(a) to KCAC’s officers or directors, any affiliates or family members of any of KCAC’s officers or directors, any
members of the Sponsor or any affiliates of the members of the Sponsor, any affiliates of the Sponsor or any employees of such affiliates; 

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

(c) in the case of an individual, transfers by virtue of laws of descent and distribution upon death of the individual; 

(d) in the case of an individual, transfers pursuant to a qualified domestic relations order; 

(e) by virtue of the laws of the State of Delaware or the Sponsor’s limited liability company agreement upon dissolution
of the Sponsor; or 
 (f) in the event of the Company’s liquidation, merger, capital stock exchange, reorganization or
other similar transaction which results in all of the Company’s stockholders having the right to exchange their Ordinary Shares for cash, securities or other property; provided, however, that in the case of clauses
(a) through (e), these permitted transferees (the “Permitted Transferees”) must enter into a written agreement agreeing to be bound by the transfer restrictions in this Agreement and the other restrictions contained in
the Registration Rights and Lock-up Agreement, dated as of the date hereof, by and among the Company and the other parties thereto (the “Registration Rights Agreement”) (including, for
the avoidance of doubt, the provisions with respect to the Lock-Up Period, as defined therein with respect to such transferees) and provided, further, that any transfers under clauses
(a) through (e) shall be subject to the Registration Rights Agreement and made only to the extent permitted under the Original Holder Lock-Up Period, as defined therein with respect to such transferees.

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

3. Terms and Exercise of Warrants. 

3.1 Warrant Price. Each Warrant shall, when countersigned by the Warrant Agent (if a physical certificate is issued), 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 the 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 twenty (20) Business Days, provided,
that the Company shall provide at least twenty (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 date that is thirty (30) days after the Effective Date, and terminating at 5:00 p.m., New York City time on the earliest to occur of: (x) the date that is five
(5) years after the Effective Date and (y) other than with respect to the Private Placement Warrants and Working Capital Warrants then held by the Sponsor or initial lender, as applicable, or any of their respective Permitted Transferees
in connection with a redemption pursuant to Section 6.1 hereof, the Redemption Date (as defined below) as provided in Section 6.3 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 subsection 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 held by the Sponsor or initial lender, as applicable, or their respective Permitted
Transferees, in connection with a redemption pursuant to Section 6.1 hereof) in the event of a redemption (as set forth in Section 6 hereof), each Warrant (other than a Private Placement Warrant or
a Working Capital Warrant held by the Sponsor or initial lender, or their respective Permitted Transferees, in the event of a redemption pursuant to Section 6.1 hereof) 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 twenty (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, or at the office of its successor as Warrant Agent, in the Borough of Manhattan, City and State of New York (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 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 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 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 Warrant Agent or by wire
transfer of immediately available funds; 

 (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 subsection 3.3.1(b), over the Warrant Price by (y) the Fair Market Value. Solely for purposes of this subsection 3.3.1(b), Section 6.2 and Section 6.4, the
“Fair Market Value” shall mean the average last reported sale price of the Ordinary Shares for the ten (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 Sponsor or initial lender, as applicable, or their respective Permitted Transferees, 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 “Sponsor Fair Market Value”, as defined in this subsection
3.3.1(c), over the Warrant Price by (y) the Sponsor Fair Market Value. Solely for purposes of this subsection 3.3.1(c), the “Sponsor Fair Market Value” shall mean the average last reported
sale price of the Ordinary Shares for the ten (10) trading days ending on the third trading day prior to the date on which notice of exercise of the Private Placement Warrant or Working Capital Warrant is sent to the Warrant Agent; 

(d) as provided in Section 6.2 with respect to a Make-Whole Exercise; or 

(e) 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 subsection 3.3.1(a)), the Company shall issue to the Registered Holder of such Warrant a book-entry position for the number of 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. Notwithstanding the foregoing, the Company shall not be obligated to deliver 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 of 1933, as amended (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, or a valid exemption from registration is available. 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 under the securities laws of the state of residence of the Registered
Holder of the Warrants. The Company may require holders of Public Warrants to settle the Warrant on a “cashless basis” pursuant to 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 shall be validly issued, fully paid and non-assessable. 

3.3.4 Date of Issuance. Each person in whose name any book-entry position for Ordinary Shares is issued shall for all purposes be
deemed to have become the holder such Ordinary Shares on the date on which the Warrant, or book-entry position 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 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 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 subsection 3.3.5; however, no holder of a Warrant shall be subject to this subsection 3.3.5 unless he, she or it makes such election. If the election is made by a holder, the Warrant Agent shall
assist with 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 4.8% or 9.8% (or such other amount as a holder may specify)(the “Maximum Percentage”) of the Ordinary Shares 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
preferred 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 outstanding Ordinary Shares, the
holder may rely on the number of 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 Securities and Exchange Commission (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 outstanding. For any reason at any time, upon the written request of the
holder of the Warrant, the Company shall, within two (2) Business Days, confirm orally and in writing to such holder the number of Ordinary Shares then outstanding. In any case, the 

 
number of 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 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 sixty-first (61st) day after such notice is delivered to the Company. 

4. Adjustments. 
 4.1
Stock Dividends. 
 4.1.1 Split-Ups. If after the date hereof, and subject
to the provisions of Section 4.6 below, the number of outstanding Ordinary Shares is increased by a stock dividend payable in Ordinary Shares, stock split or reclassification of the Ordinary Shares or other similar event,
then, on the effective date of such stock dividend, split-up or similar event, the number of Ordinary Shares issuable on exercise of each Warrant shall be increased in proportion to such increase in the
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 stock dividend 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) multiplied by (ii) one (1) 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 subsection 4.1.1, (i) if the rights
offering is for securities convertible into or exercisable for 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 ten (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 of the Company’s share capital into which the Warrants are convertible), other than (a) as described
in subsection 4.1.1 above or (b) Ordinary Cash Dividends (as defined below) (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 subsection 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 to the extent it does not exceed $0.50 (being 5% of the offering price of
the Units in the Offering) (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) but only with respect to the amount of the aggregate cash dividends or cash distributions equal to or less than $0.50. Solely for purposes of illustration, if the
Company, at a time while the Warrants are outstanding and unexpired, pays a cash dividend of $0.35 per share and previously paid an aggregate of $0.40 of cash dividends and cash distributions on the Ordinary Shares during the 365-day period ending on the date of declaration of such $0.35 per share dividend, then the Warrant Price will be decreased, effectively immediately after the effective date of such $0.35 per share dividend, by
$0.25 (the absolute value of the difference between $0.75 per share (the aggregate amount of all cash dividends and cash distributions paid or made in such 365-day period, including such $0.35 dividend) and
$0.50 per share (the greater of (x) $0.50 per share and (y) the aggregate amount of all cash dividends and cash distributions paid or made in such 365-day period prior to such $0.35 dividend)). 

4.2 Aggregation of Shares. If after the date hereof, and subject to the provisions of Section 4.6
hereof, the number of 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 stock split,
reclassification or similar event, the number of Ordinary Shares issuable on exercise of each Warrant shall be decreased in proportion to such decrease in outstanding Ordinary Shares. 

4.3 Adjustments in Exercise Price. Whenever the number of Ordinary Shares purchasable upon the exercise of the
Warrants is adjusted, as provided in subsection 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. 
 4.4 Replacement of Securities upon Reorganization, etc. In case of any reclassification
or reorganization of the outstanding Ordinary Shares (other than a change under subsections 4.1.1 or 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 corporation (other than a consolidation or merger in which the Company is the continuing corporation and that does not result in any reclassification or reorganization of the
outstanding Ordinary Shares), or in the case of any sale or conveyance to another corporation or 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 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 

 
reclassification, 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 (the “Alternative Issuance”); provided, however, that (i) if the holders of the Ordinary Shares were entitled to exercise a right of
election as to the kind or amount of securities, cash or other assets receivable upon such consolidation or merger, then the kind and amount of securities, cash or other assets constituting the Alternative Issuance for which each Warrant shall
become exercisable shall be deemed to be the weighted average of the kind and amount received per share by the holders of the Ordinary Shares in such consolidation or merger that affirmatively make such election, and (ii) if a tender, exchange
or redemption offer shall have been made to and accepted by the holders of the Ordinary Shares under circumstances in which, upon completion of such tender or exchange offer, the maker thereof, together with members of any group (within the meaning
of Rule 13d-5(b)(1) under the Exchange Act (or any successor rule)) of which such maker is a part, and together with any affiliate or associate of such maker (within the meaning of Rule 12b-2 under the Exchange Act (or any successor rule)) and any members of any such group of which any such affiliate or associate is a part, own beneficially (within the meaning of Rule
13d-3 under the Exchange Act (or any successor rule)) more than 50% of the outstanding Ordinary Shares, the holder of a Warrant shall be entitled to receive as the Alternative Issuance, the highest amount of
cash, securities or other property to which such holder would actually have been entitled as a shareholder if such Warrant holder had exercised the Warrant prior to the expiration of such tender or exchange offer, accepted such offer and all of the
Ordinary Shares held by such holder had been purchased pursuant to such tender or exchange offer, subject to adjustments (from and after the consummation of such tender or exchange offer) as nearly equivalent as possible to the adjustments provided
for in this Section 4; provided, further, however, that if less than 70% of the consideration receivable by the holders of the Ordinary Shares in the applicable event is payable in the form of capital
stock or shares in the successor entity that is listed for trading on a national securities exchange or is quoted in an established over-the-counter market, or is to be
so listed for trading or quoted immediately following such event, and if the Registered Holder properly exercises the Warrant within thirty (30) days following the public disclosure of the consummation of such applicable event by the Company
pursuant to a Current Report on Form 8-K filed with the Commission, the Warrant Price shall be reduced by an amount (in dollars) (but in no event less than zero) equal to the difference of (i) the Warrant
Price in effect prior to such reduction minus (ii) (A) the Per Share Consideration (as defined below) minus (B) the Black-Scholes Warrant Value (as defined below). The “Black-Scholes Warrant Value” means the
value of a Warrant immediately prior to the consummation of the applicable event based on the Black-Scholes Warrant Model for a Capped American Call on Bloomberg Financial Markets (“Bloomberg”). For purposes of
calculating such amount, (1) Section 6 of this Agreement shall be taken into account, (2) the price of each Ordinary Share shall be the volume weighted average price of the Ordinary Shares as reported during the
ten (10) trading day period ending on the trading day prior to the effective date of the applicable event, (3) the assumed volatility shall be the 90 day volatility obtained from the HVT function on Bloomberg determined as of the trading
day immediately prior to the day of the announcement of the applicable event, and (4) the assumed risk-free interest rate shall correspond to the U.S. Treasury rate for a period equal to the remaining term of the Warrant. “Per
Share Consideration” means (i) if the consideration paid to holders of the Ordinary Shares consists exclusively of cash, the amount of such cash per Ordinary Share, and (ii) in all other cases, the volume weighted average
price of the Ordinary 

 
Shares as reported during the ten (10) trading day period ending on the trading day prior to the effective date of the applicable event. If any reclassification or reorganization also
results in a change in Ordinary Shares covered by subsection 4.1.1, then such adjustment shall be made pursuant to subsection 4.1.1 or Sections 4.2, 4.3 and this Section 4.4. The provisions
of this Section 4.4 shall similarly apply to successive reclassifications, 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, 4.2, 4.3 or 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. The Company shall adjust the terms of the Warrants in a manner that is consistent with any adjustment recommended in
such opinion. 

 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 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. If a physical certificate is issued, 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. 

6. Redemption. 
 6.1
Redemption of Warrants for when the price per share equals or exceeds $18.00. Subject to Section 6.5 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 6.3 below, at the price (the
“Redemption Price” ) of $0.01 per Warrant, provided that the last reported sales price of the Reference Value equals or exceeds $18.00 per share (subject to adjustment in compliance with
Section 4 hereof), on each of twenty (20) trading days within the thirty (30) trading-day period ending on the third Business 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 6.3 below) or the Company has elected to require the exercise of the Warrants on a “cashless basis” pursuant to subsection
3.3.1. 

 6.2 Redemption of Warrants when the price per share equals or exceeds $10.00.
Not less than all of the outstanding Warrants may be redeemed, at the option of the Company, commencing once they are first 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 6.3 below, at a Redemption Price of $0.10 per Warrant, provided that the last reported sales price of the Ordinary Shares reported has been at least $10.00 per share (subject to
adjustment in compliance with Section 4 hereof), on the trading day prior to the date on which notice of the redemption is given, provided that the Private Placement warrants are also concurrently called for redemption at
the same price and terms as the outstanding Public Warrants, and provided that there is an effective registration statement covering the issuance of 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 6.3 below). During the Redemption Period in connection with a redemption pursuant to this
Section 6.2, Registered Holders of the Warrants may elect to exercise their Warrants on a “cashless basis” pursuant to subsection 3.3.1 and receive a number of Ordinary Shares determined by reference to the
table below, based on the Redemption Date (calculated for purposes of the table as the period to expiration of the Warrants) and the “ Fair Market Value” (as such term is defined in subsection 3.3.1(b)) (a “Make-Whole
Exercise”). 
  

																																					
	Redemption Date 
(period to expiration of warrants)	  	Fair Market Value of Class A Common Stock	 
	 	  	£$10.00	 	  	$11.00	 	  	$12.00	 	  	$13.00	 	  	$14.00	 	  	$15.00	 	  	$16.00	 	  	$17.00	 	  	3$18.00	 
	 60 months
	  	 	0.261	 	  	 	0.281	 	  	 	0.297	 	  	 	0.311	 	  	 	0.324	 	  	 	0.337	 	  	 	0.348	 	  	 	0.358	 	  	 	0.361	 
	 57 months
	  	 	0.257	 	  	 	0.277	 	  	 	0.294	 	  	 	0.310	 	  	 	0.324	 	  	 	0.337	 	  	 	0.348	 	  	 	0.358	 	  	 	0.361	 
	 54 months
	  	 	0.252	 	  	 	0.272	 	  	 	0.291	 	  	 	0.307	 	  	 	0.322	 	  	 	0.335	 	  	 	0.347	 	  	 	0.357	 	  	 	0.361	 
	 51 months
	  	 	0.246	 	  	 	0.268	 	  	 	0.287	 	  	 	0.304	 	  	 	0.320	 	  	 	0.333	 	  	 	0.346	 	  	 	0.357	 	  	 	0.361	 
	 48 months
	  	 	0.241	 	  	 	0.263	 	  	 	0.283	 	  	 	0.301	 	  	 	0.317	 	  	 	0.332	 	  	 	0.344	 	  	 	0.356	 	  	 	0.361	 
	 45 months
	  	 	0.235	 	  	 	0.258	 	  	 	0.279	 	  	 	0.298	 	  	 	0.315	 	  	 	0.330	 	  	 	0.343	 	  	 	0.356	 	  	 	0.361	 
	 42 months
	  	 	0.228	 	  	 	0.252	 	  	 	0.274	 	  	 	0.294	 	  	 	0.312	 	  	 	0.328	 	  	 	0.342	 	  	 	0.355	 	  	 	0.361	 
	 39 months
	  	 	0.221	 	  	 	0.246	 	  	 	0.269	 	  	 	0.290	 	  	 	0.309	 	  	 	0.325	 	  	 	0.340	 	  	 	0.354	 	  	 	0.361	 
	 36 months
	  	 	0.213	 	  	 	0.239	 	  	 	0.263	 	  	 	0.285	 	  	 	0.305	 	  	 	0.323	 	  	 	0.339	 	  	 	0.353	 	  	 	0.361	 
	 33 months
	  	 	0.205	 	  	 	0.232	 	  	 	0.257	 	  	 	0.280	 	  	 	0.301	 	  	 	0.320	 	  	 	0.337	 	  	 	0.352	 	  	 	0.361	 
	 30 months
	  	 	0.196	 	  	 	0.224	 	  	 	0.250	 	  	 	0.274	 	  	 	0.297	 	  	 	0.316	 	  	 	0.335	 	  	 	0.351	 	  	 	0.361	 
	 27 months
	  	 	0.185	 	  	 	0.214	 	  	 	0.242	 	  	 	0.268	 	  	 	0.291	 	  	 	0.313	 	  	 	0.332	 	  	 	0.350	 	  	 	0.361	 
	 24 months
	  	 	0.173	 	  	 	0.204	 	  	 	0.233	 	  	 	0.260	 	  	 	0.285	 	  	 	0.308	 	  	 	0.329	 	  	 	0.348	 	  	 	0.361	 
	 21 months
	  	 	0.161	 	  	 	0.193	 	  	 	0.223	 	  	 	0.252	 	  	 	0.279	 	  	 	0.304	 	  	 	0.326	 	  	 	0.347	 	  	 	0.361	 
	 18 months
	  	 	0.146	 	  	 	0.179	 	  	 	0.211	 	  	 	0.242	 	  	 	0.271	 	  	 	0.298	 	  	 	0.322	 	  	 	0.345	 	  	 	0.361	 
	 15 months
	  	 	0.130	 	  	 	0.164	 	  	 	0.197	 	  	 	0.230	 	  	 	0.262	 	  	 	0.291	 	  	 	0.317	 	  	 	0.342	 	  	 	0.361	 
	 12 months
	  	 	0.111	 	  	 	0.146	 	  	 	0.181	 	  	 	0.216	 	  	 	0.250	 	  	 	0.282	 	  	 	0.312	 	  	 	0.339	 	  	 	0.361	 
	 9 months
	  	 	0.090	 	  	 	0.125	 	  	 	0.162	 	  	 	0.199	 	  	 	0.237	 	  	 	0.272	 	  	 	0.305	 	  	 	0.336	 	  	 	0.361	 
	 6 months
	  	 	0.065	 	  	 	0.099	 	  	 	0.137	 	  	 	0.178	 	  	 	0.219	 	  	 	0.259	 	  	 	0.296	 	  	 	0.331	 	  	 	0.361	 
	 3 months
	  	 	0.034	 	  	 	0.065	 	  	 	0.104	 	  	 	0.150	 	  	 	0.197	 	  	 	0.243	 	  	 	0.286	 	  	 	0.326	 	  	 	0.361	 
	 0 months
	  	 	—  	 	  	 	—  	 	  	 	0.042	 	  	 	0.115	 	  	 	0.179	 	  	 	0.233	 	  	 	0.281	 	  	 	0.323	 	  	 	0.361	 

 The exact Fair Market Value and Redemption Date (as defined below) may not be set forth in the table above,
in which case, if the Fair Market Value is between two values in the table or the Redemption Date is between two redemption dates in the table, the number of Ordinary Shares to be issued for each Warrant exercised in a Make-Whole Exercise will be
determined by a straight-line interpolation between the number of shares set forth for the higher and lower Fair Market Values and the earlier and later redemption dates, as applicable, based on a 365- or 366-day year, as applicable. 
 The share prices set forth in the column headings of the table above shall
be adjusted as of any date on which the number of shares issuable upon exercise of a Warrant is adjusted pursuant to Section 4. The adjusted share prices in the column headings shall equal the share prices immediately prior
to such adjustment, multiplied by a fraction, the numerator of which is the number of shares deliverable upon exercise of a Warrant immediately prior to such adjustment and the denominator of which is the number of shares deliverable upon exercise
of a Warrant as so adjusted. The number of shares in the table above shall be adjusted in the same manner and at the same time as the number of shares issuable upon exercise of a Warrant. In no event will the number of shares issued in
connection with a Make-Whole Exercise exceed 0.361 Ordinary Shares per Warrant (subject to adjustment). 
 6.3 Date Fixed for, and Notice
of, Redemption. In the event that the Company elects to redeem all of the Warrants pursuant to Section 6.1 or 6.2, 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 thirty (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. 
 6.4 Exercise After Notice of
Redemption. The Warrants may be exercised, for cash (or on a “cashless basis” in accordance with subsection 3.3.1(b) or Section 6.2 of this Agreement) at any time after notice of redemption shall
have been given by the Company pursuant to Section 6.3 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 subsection 3.3.1, the notice of redemption shall contain the information necessary to calculate the number of shares of Common Stock to be received upon exercise of the Warrants, including the “Fair Market
Value” (as such term is defined in subsection 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. 
 6.5 Exclusion of Private Placement Warrants and Working Capital Warrants. The Company agrees that
the redemption rights provided in Section 6.1 hereof shall not apply to the Private Placement Warrants or the Working Capital Warrants if at the time of the redemption such Private Placement Warrants or the Working
Capital Warrants continue to be held by the Sponsor, the initial lender, as applicable, or their respective Permitted Transferees. However, once such Private Placement Warrants or Working Capital Warrants are transferred (other than to
Permitted Transferees in accordance with Section 2.5), the Company may redeem the Private Placement Warrants and the Working Capital Warrants pursuant to Section 6.1 hereof, provided

 
that the criteria for redemption are met, including the opportunity of the holder of any such Private Placement Warrants and Working Capital Warrants to exercise the Private Placement Warrants or
Working Capital Warrants prior to redemption pursuant to Section 6.4. Private Placement Warrants or 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 the meetings of shareholders or the election 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 unissued Ordinary
Shares in its authorized share capital as provided for in the Company’s articles of association 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 twenty
(20) Business days after the Effective Date, it shall use its commercially reasonable efforts to file with the Commission a post-effective amendment to the registration statement or a new registration statement for the registration, under the
Securities Act, of the issuance 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 within sixty (60) days after the closing of the
Effective Date 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 Effective Date, holders of the Warrants shall have the right, during the period beginning on the 61st Business Day after the Effective Date 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 excess of the “Fair Market Value” (as defined below) over the Warrant Price by
(y) the Fair Market Value. The nominal value of Ordinary Shares issued upon exercise of Warrants on a “cashless basis” may be paid-up at the expense of the reserves of the Company. Solely for purposes of this subsection
7.4.1, “Fair Market Value” shall mean the volume weighted average price of the Ordinary Shares as reported during the ten (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 subsection 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 rule)) of the Company and, accordingly, shall not be required to bear a restrictive
legend. Except as provided in subsection 7.4.2, for the avoidance of any doubt, unless and until all of the Warrants have been exercised, the Company shall continue to be obligated to comply with its registration obligations under the
first three sentences of this subsection 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
rule), 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 rule) as described in subsection 7.4.1 and (ii) in the event the Company so elects, the Company shall (x) 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, and (y) use its best efforts to register or qualify for sale the Ordinary Shares issuable upon exercise of the Public
Warrants 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 sixty (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 thirty (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. 

8.3.1 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, Secretary 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 (5) 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: 

Wallbox N.V. 

[                    ] 

With a copy in each case to: 

Latham & Watkins LLP 

[            ] 

Attn: [            ] 

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 (5) 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: Compliance Department 

With a copy in each case to: 

Latham & Watkins LLP 

[        ] 

Attn: [            ] 

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 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 exclusive. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Notwithstanding the foregoing, 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. 

 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 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 “NY 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 “NY enforcement action”), and (y) having service of process made upon such warrant holder in any such NY enforcement action by service upon such warrant holder’s counsel in the NY
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 any right, remedy, or claim under or by reason of this Agreement or of any covenant, condition,
stipulation, promise, or agreement hereof. All covenants, conditions, stipulations, promises, and agreements contained in this Agreement shall be for the sole and exclusive benefit of the parties hereto 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 his Warrant for
inspection by it. 
 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 50% of the then outstanding Public Warrants, and, solely with respect to any amendment to the terms of, or any provision of this Agreement with
respect to the Private Placement Warrants or Working Capital Warrants, 50% of the number of then outstanding Private Placement Warrants or Working Capital Warrants, as applicable. Notwithstanding the foregoing, the Company may lower the Warrant
Price or extend the duration of the Exercise Period pursuant to Sections 3.1 and 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. 

Exhibit A Form of Warrant Certificate 

[Signature Page Follows] 

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

			
		 	 KENSINGTON CAPITAL ACQUISITION CORP. II

		
	By:	 	  

	Name:	 	Justin Mirro
	Title:	 	Chief Executive Officer
		
		 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent
		
	By:	 	  

	Name:	 	Ana Gois
	Title:	 	Vice President

 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 

WALLBOX N.V. 

Incorporated Under the Laws of the Netherlands 

CUSIP [______] 
 Warrant
Certificate 
 This Warrant Certificate certifies that [ 🌑 ], or registered assigns, is the registered holder
of [ 🌑 ] warrants evidenced hereby (the “Warrants” and each, a “Warrant”) to purchase ordinary shares with a nominal value of €0.12
the “Ordinary Shares”) of Wallbox N.V., a public company with limited liability (naamloze vennootschap) incorporated under the laws of the Netherlands, having its official seat in Amsterdam, the Netherlands and
registered with the Dutch trade register under number 83012559 (the “Company”). Each Warrant entitles the holder, upon exercise during the Period set forth in the Assignment, Assumption and Amended and Restated
Warrant Agreement, dated as of [__] [__], 2021 (as amended from time to time, the “Warrant Agreement”), to receive from the Company that number of fully paid and non-assessable Ordinary Shares
as set forth below, at the exercise price (the “Exercise 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 Exercise 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 a Warrant, 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 the 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 Exercise Price per Ordinary Share for any Warrant is equal to 

 
$11.50 per share. The Exercise Price is subject to adjustment upon the occurrence of certain events set forth in the Warrant Agreement. The Warrants may be redeemed subject to certain
conditions as 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. 
 WALLBOX N.V. 

 

			
	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 an Assignment, Assumption and Amended and Restated Warrant Agreement, dated as
of [__] [__], 2021 (as amended from time to time, the “Warrant Agreement”), duly executed and delivered by the Company to Continental Stock Transfer & Trust Company, a New York corporation, as warrant agent (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) 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 Exercise 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, or a valid exemption from registration is available , 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 Wallbox N.V., a public company with limited liability (naamloze vennootschap) incorporated under the laws of the Netherlands, having its official seat in Amsterdam, the Netherlands and
registered with the Dutch trade register under number 83012559 (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 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 6.4 of the Warrant Agreement, the number of Ordinary Shares that this Warrant is exercisable for shall be determined in accordance with
subsection 3.3.1(b) and Section 6.4 of the Warrant Agreement. 
 In the event that the Warrant has been called for
redemption by the Company pursuant to Section 6.2 of the Warrant Agreement and a holder thereof elects to exercise its Warrant pursuant to a Make-Whole Exercise, the number of Ordinary Shares that this Warrant is
exercisable for shall be determined in accordance with Section 6.2 of the Warrant Agreement. 
 In the event that the Warrant is a
Private Placement Warrant that is to be exercised on a “cashless” basis pursuant to subsection 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 subsection 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 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:                 , 20	 		 		 	  

				
		 		 	(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 (OR ANY SUCCESSOR RULE)).

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