Document:

Exhibit 10.9

 

NORTH ATLANTIC ACQUISITION CORPORATION

93 Mill Street

Zone 5, Central Business District

Qormi CBD 5090, Malta

 

_________ __, 202_

 

	 	Re:	 	Forward Purchase Contract

 

Ladies and Gentlemen:

 

We are pleased to accept the offer of NAAC
Sponsor LP (or its designees) (the “Subscriber” or “you”) to purchase up to an aggregate
of [10,000,000] units (the “Units”) of North Atlantic Acquisition Corporation, a Cayman Islands exempted company
(the “Company”), each Unit comprising one Class A ordinary share of the Company, par value $0.0001 per
share (“Class A Ordinary Share”), and one-third of one warrant (“Warrant”). Each whole
Warrant is exercisable to purchase one Class A Ordinary Share at an exercise price of $11.50 per share during the period
commencing on the later of (i) twelve (12) months from the date of the closing of the Company’s initial public offering
of units, each unit comprising one Class A Ordinary Share and one-third of one Warrant (the “IPO”) and
(ii) thirty (30) days following the consummation of the Company’s initial Business Combination (as defined below) and
expiring on the five-year anniversary of the consummation of the Business Combination. The Units and the securities underlying
the Units are hereinafter collectively referred to as the “Securities.” The exact number of Units to be purchased
by you shall be determined by the mutual agreement between you and the Company, which may be based, among other things, on the
capital needs of the Company in connection with the Business Combination. The terms on which the Company is willing to sell the
Securities to the Subscriber, and the Company and the Subscriber’s agreements regarding such Securities, are set forth in
this agreement (this “Agreement”) and are as follows:

 

1. Purchase of the Securities.
The purchase price for the Securities (the “Purchase Price”) shall be $10.00 per Unit multiplied by the number
of Units being purchased hereunder, up to an aggregate purchase price of $[100 million]. In exchange for the Purchase Price, the
Company agrees to sell the Securities to the Subscriber, and the Subscriber hereby agrees to purchase the Securities from the
Company in a private placement, subject to the terms and conditions set forth in this Agreement.

 

2. Representations, Warranties and Agreements.

 

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

 

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

 

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

 

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

 

    

     

    

 

2.1.4. Experience, Financial Capability
and Suitability. Subscriber is: (i) sophisticated in financial matters and is able to evaluate the risks and benefits
of the investment in the Securities and protect its own interests and (ii) able to bear the economic risk of its investment
in the Securities for an indefinite period of time because the Securities have not been registered under the Securities Act of
1933, as amended (“Securities Act”), and therefore cannot be sold by Subscriber unless subsequently registered
under the Securities Act or an exemption from such registration is available. Subscriber is able to afford a complete loss of Subscriber’s
investment in the Securities.

 

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

 

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

 

2.1.7. Investment Purposes.
The Subscriber is purchasing the Securities solely for investment purposes and not with a view towards the further distribution
or dissemination thereof. The Subscriber did not decide to enter into this Agreement as a result of any general solicitation or
general advertising within the meaning of Rule 502 under the Securities Act.

 

2.1.8. Restrictions on Transfer;
Shell Company. Subscriber understands the Securities are being offered in a transaction not involving a public offering within
the meaning of the Securities Act. Subscriber understands the Securities will be “restricted securities” within the
meaning of Rule 144(a)(3) under the Securities Act and Subscriber understands that any certificates representing the
Securities will contain a legend in respect of such restrictions. If in the future the Subscriber decides to offer, resell, pledge
or otherwise transfer the Securities, such securities may be offered, resold, pledged or otherwise transferred only pursuant to:
(i) registration under the Securities Act, or (ii) an available exemption from registration. Subscriber agrees that if
any transfer of its Securities or any interest therein is proposed to be made, as a condition precedent to any such transfer, Subscriber
may be required to deliver to the Company an opinion of counsel satisfactory to the Company. Absent registration or an exemption,
the Subscriber agrees not to resell the Securities. Subscriber further acknowledges that because the Company is a shell company,
Rule 144 may not be available to the Subscriber for the resale of the Securities until one (1) year following consummation
of the Business Combination, despite technical compliance with the requirements of Rule 144 and the release or waiver of any
contractual transfer restrictions.

 

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

 

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

 

    

     

    

 

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

 

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

 

2.2.3. Title to Securities.
Upon issuance in accordance with, and payment pursuant to, the terms hereof, and registration in the register of members of the
Company, the Securities will be duly and validly issued, fully paid and non-assessable. Upon issuance in accordance with, and payment
pursuant to, the terms hereof the Subscriber will have or receive good title to the Securities, free and clear of all liens, claims
and encumbrances of any kind, other than (i) transfer restrictions under federal and state securities laws, and (ii) liens,
claims or encumbrances imposed due to the actions of the Subscriber.

 

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

 

2.2.5. No Governmental Consents.
No governmental, administrative or other third party consents or approvals are required, necessary or appropriate on the part of
the Company in connection with the transactions contemplated by this Agreement, other than the filing of a Form D with the
Securities and Exchange Commission and such state Blue Sky, FINRA and NASDAQ consents and approvals as may be required.

 

2.2.6. No General Solicitation.
No form of general solicitation or general advertising within the meaning of Regulation D of the Securities Act (including, but
not limited to, advertisements, articles, notices or other communications published in any newspaper, magazine or similar medium
or broadcast over television or radio, or any seminar or meeting whose attendees have been invited by any general solicitation
or general advertising) was used by the Company or any of its representatives in connection with the offer and sale of the Securities.

 

2.2.7. No Brokers. No broker,
finder or similar intermediary has acted for or on behalf of the Company or any of its affiliates in connection with this Agreement
or the transactions contemplated hereby and no broker, finder, agent or similar intermediary is entitled to any broker’s,
finder’s or similar fee or other commission in connection therewith.

 

3. Settlement Date and Delivery.

 

3.1. Closing of Purchase of Securities.
The consummation and settlement of the contingent forward purchase contract for the purchase and sale of the Securities hereunder
(the “Closing”) shall be held at the same date and immediately prior to the closing of the Business Combination
(the date of the Closing being referred to as the “Closing Date”). No later than two business days prior to
the Closing, the Company and the Subscriber will use their reasonable efforts to agree as to the exact number of Units the Subscriber
will be obligated to purchase hereunder (subject to a maximum of [10 million] Units). In the absence of an agreement within such
time period, the Subscriber shall not be obligated to purchase any Units. At the Closing, the Company will issue to the Subscriber
the Units being purchased hereunder, each registered in the name of the Subscriber (or its designees), against delivery of the
Purchase Price in cash via wire transfer to an account specified in writing by the Company no later than two business days prior
to the Closing Date.

 

    

     

    

 

3.2. Conditions to Closing of the
Company. The Company’s obligations to sell and issue the Securities at the Closing are subject to the fulfillment of
the following conditions:

 

3.2.1. Representations and Warranties
Correct. The representations and warranties made by the Subscriber in Section 2.1 hereof shall be true and correct in
all material respects when made and shall be true and correct in all material respects on and as of the Closing Date and closing
of the Company’s initial public offering (“IPO”), as the case may be (unless they specifically speak as
of another date in which case they shall be true and correct in all material respects as of such date) with the same force and
effect as if they had been made on and as of said date.

 

3.2.2. Covenants. All covenants,
agreements and conditions contained in this Agreement to be performed by the Subscriber on or prior to the Closing Date shall have
been performed or complied with in all material respects.

 

3.2.3. Blue Sky. The Company
shall have obtained all necessary Blue Sky law permits and qualifications, or secured an exemption therefrom, required by any state
for the offer and sale of the Securities.

 

3.2.4. Ancillary Agreements.
All Ancillary Agreements (defined below) to be signed by Subscriber pursuant hereto shall have been executed by Subscriber.

 

3.3. Conditions to Closing of the
Subscriber. The Subscriber’s obligation to purchase the Securities at the Closing is subject to the fulfillment on or
prior to the Closing Date of each of the following conditions:

 

3.3.1. Representations and Warranties
Correct. The representations and warranties made by the Company in Section 2.2 hereof shall be true and correct in all
material respects when made and shall be true and correct in all material respects on and as of the Closing Date and closing of
the IPO, as the case may be (unless they specifically speak as of another date in which case they shall be true and correct in
all material respects as of such date), with the same force and effect as if they had been made on and as of said date.

 

3.3.2. Covenants. All covenants,
agreements and conditions contained in this Agreement to be performed by the Company on or prior to the Closing Date shall have
been performed or complied with in all material respects.

 

3.3.3. Blue Sky. The Company
shall have obtained all necessary Blue Sky law permits and qualifications, or secured an exemption therefrom, required by any state
for the offer and sale of the Securities.

 

3.3.4. Registration Rights Agreement.
The Company and Subscriber shall have entered into a registration rights agreement (the “Registration Rights Agreement”)
in a form customary for transactions of the type contemplated hereby, with the other holders of the Company’s securities
issued prior to the IPO. The rights granted to Subscriber pursuant to the Registration Rights Agreement shall be no less favorable
to Subscriber than the other parties to the Registration Rights Agreement.

 

3.3.5. IPO Closing. The Company
shall have consummated the IPO.

 

3.3.6. Business Combination.
The Company’s proposed initial merger, share exchange, asset acquisition, share purchase, reorganization or similar business
combination with one or more businesses or entities (the “Business Combination”) shall have been approved by
unanimous vote of the Board of Directors of the Company and the conditions to the closing of the Business Combination, including
the approval of the Company’s stockholders, if applicable, shall have been satisfied or waived.

 

    

     

    

 

3.3.7. Subscriber Consent. The Subscriber
shall have the right, in its sole discretion (in its capacity as a party to this agreement and not as a director or existing stockholder),
to determine whether to purchase none, all or any portion of the Securities pursuant hereto in connection with any Business Combination
that is approved by the Board of the Company. The Subscriber shall provide notice of such determination to the Company no later
than five (5) days after receipt of notification from the Company that the Board of the Company has met and agreed to enter
into a definitive transaction agreement for the Business Combination; provided, that if the Subscriber fails to deliver such notice
to the Company within such five (5) day period, the Subscriber will be deemed to have determined to not purchase any of the
Securities pursuant hereto in connection with such Business Combination, unless otherwise expressly agreed in writing by the Subscriber
and the Company. In the event the Subscriber determines to purchase any, all or some of the Securities, its obligation will be
further conditional on the Business Combination being consummated concurrently with the Closing, but only on substantially the
terms set forth in the definitive transaction agreement (unless otherwise agreed in writing by the Subscriber), and without any
waiver of any failure to satisfy a condition to close the Business Combination, except for waivers of conditions to the closing
of the Business Combination, the failure of which, in the aggregate, are reasonably deemed to be immaterial (or as otherwise agreed
to in writing by the Subscriber).

 

4. Restrictions on Transfer.
Subscriber hereby agrees not to sell, transfer, pledge, hypothecate or otherwise dispose of all or any part of the Securities unless,
prior thereto (a) a registration statement on the appropriate form under the Securities Act and applicable state securities
laws with respect to the Securities proposed to be transferred shall then be effective or (b) the Company has received an
opinion of counsel for the Company that such registration is not required because such transaction is exempt from registration
under the Securities Act and the rules promulgated by the Securities and Exchange Commission thereunder and under all applicable
state securities laws. All certificates representing the Securities shall have endorsed thereon a legend substantially as follows:

 

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

 

The Company agrees to cause its counsel to deliver an opinion
to the Company’s transfer agent directing the removal of the foregoing legends once able to do so pursuant to applicable
securities laws.

 

5. Other Agreements.

 

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

 

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

 

5.3. Entire Agreement. This Agreement,
together with those certain agreements to be entered into between the Subscriber (and/or its affiliates) and the Company in connection
with the IPO, including but not limited to an insider letter, a subscription agreement governing the purchase of shares and warrants
of the Company prior to and simultaneously with the closing of the IPO and the Registration Rights Agreement (collectively, the
 “Ancillary Agreements”), each substantially in the form to be filed as an exhibit to the registration statement
relating to the IPO (“Registration Statement”), embodies the entire agreement and understanding between the
Subscriber and the Company with respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings
relating to the subject matter hereof. No statement, representation, warranty, covenant or agreement of any kind not expressly
set forth in this Agreement shall affect, or be used to interpret, change or restrict, the express terms and provisions of this
Agreement.

 

    

     

    

 

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

 

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

 

5.6. Assignment. The rights and
obligations under this Agreement may not be assigned by any of the parties hereto without the prior written consent of the other
parties; provided that Subscriber may assign its rights and obligations to an affiliate without the prior consent of the other
parties.

 

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

 

5.8. Governing Law. This Agreement
and the rights and obligations of the parties hereunder shall be construed in accordance with and governed by the laws of New York
applicable to contracts wholly performed within the borders of such state, without giving effect to the conflict of law principles
thereof.

 

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

 

5.10. No Waiver of Rights, Powers
and Remedies. No failure or delay by a party hereto in exercising any right, power or remedy under this Agreement, and no course
of dealing between the parties hereto, shall operate as a waiver of any such right, power or remedy of such party. No single or
partial exercise of any right, power or remedy under this Agreement by a party hereto, nor any abandonment or discontinuance of
steps to enforce any such right, power or remedy, shall preclude such party from any other or further exercise thereof or the exercise
of any other right, power or remedy hereunder. The election of any remedy by a party hereto shall not constitute a waiver of the
right of such party to pursue other available remedies. No notice to or demand on a party not expressly required under this Agreement
shall entitle the party receiving such notice or demand to any other or further notice or demand in similar or other circumstances
or constitute a waiver of the rights of the party giving such notice or demand to any other or further action in any circumstances
without such notice or demand.

 

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

 

5.12. Headings and Captions. The
headings and captions of the various subdivisions of this Agreement are for convenience of reference only and shall in no way modify
or affect the meaning or construction of any of the terms or provisions hereof.

 

5.13. Counterparts. This Agreement
may be executed in one or more counterparts, all of which when taken together shall be considered one and the same agreement and
shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that
both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission or any
other form of electronic delivery, such signature shall create a valid and binding obligation of the party executing (or on whose
behalf such signature is executed) with the same force and effect as if such signature page were an original thereof.

 

    

     

    

 

5.14. Construction. The words
 “include,” “includes,” and “including” will be deemed to be followed by
 “without limitation.” Pronouns in masculine, feminine, and neuter genders will be construed to include any other
gender, and words in the singular form will be construed to include the plural and vice versa, unless the context otherwise requires.
The words “this Agreement,” “herein,” “hereof,” “hereby,”
 “hereunder,” and words of similar import refer to this Agreement as a whole and not to any particular subdivision
unless expressly so limited. The parties hereto intend that each representation, warranty, and covenant contained herein will have
independent significance. If any party hereto has breached any representation, warranty, or covenant contained herein in any respect,
the fact that there exists another representation, warranty or covenant relating to the same subject matter (regardless of the
relative levels of specificity) which such party hereto has not breached will not detract from or mitigate the fact that such party
hereto is in breach of the first representation, warranty, or covenant.

 

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

 

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

 

7. Term. The Subscriber’s
obligation to acquire the Securities hereunder, and the Company’s obligation to sell the Securities hereunder, shall be in
effect until the earlier of (i) the consummation of the Business Combination within the time frame permitted by the Company’s
charter documents (as may be amended, the “Charter”), which, as of the date hereof, is expected to be 24 months
from the consummation of the IPO, including any extensions beyond such term effected pursuant to the terms of the Charter, and
(ii) the liquidation of the Company in the event that the Company is unable to consummate the Business Combination within
the time frame permitted by the Charter (including any extensions).

 

8. Disclosure. The Subscriber
hereby acknowledges that (i) the terms of this Agreement will be disclosed in the Registration Statement, (ii) this Agreement
will be filed with the Securities and Exchange Commission as an exhibit to the Registration Statement and (iii) the Company
will disclose the terms of this Agreement to potential IPO investors and to potential Business Combination targets.

 

9. Waiver of Claims Against Trust.
The Subscriber hereby acknowledges that it is aware that the Company will establish a trust account (the “Trust Account”)
for the benefit of its public stockholders upon the closing of the IPO. The Subscriber, for itself and its affiliates, hereby agrees
that it has no right, title, interest or claim of any kind in or to any monies held in the Trust Account, or any other asset of
the Company as a result of any liquidation of the Company, except for redemption and liquidation rights, if any, the Subscriber
may have in respect of any shares issued as part of the units sold in the IPO (“Public Shares”) held by the
Subscriber. The Subscriber hereby agrees that it shall have no right of set-off or any right, title, interest or claim of any kind
(“Claim”) to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any
monies in, the Trust Account that it may have now or in the future, except for redemption and liquidation rights, if any, the Subscriber
may have in respect of any Public Shares held by the Subscriber; provided, however, that the foregoing shall not restrict Subscriber
from bringing any claim Subscriber may have against the Company against the Company (or any successor entity) following consummation
of a Business Combination or against any funds held by the Company outside of the Trust Account prior to the consummation of a
Business Combination.

 

[Signature Page Follows]

 

    

     

    

 

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

 

	 	NORTH ATLANTIC ACQUISITION CORPORATION
	 	 
	 	     
	 	By: 	                    
	 	 	Name:
	 	 	Title:

 

	 	Address:	            
	 	 
	 		
	 	 
	 	Email: 	

 

Accepted and agreed this ___ day of ___________, 202_.

 

	NAAC SPONSOR LP	 
	 	 
	By: 	NAAC Sponsor GP LLC, General Partner	 
	 	 	 
	By: 	       	 
	 	Name: Mark
    Keating	 
	 	Title: Managing Member	 

 

	Address:		 
	 	 
			 
	 	 
	Email: 		 

 

[Signature
Page to Forward Purchase Agreement]EX-4.3

 Exhibit 4.3 

REGISTRATION RIGHTS AGREEMENT 
 This
Registration Rights Agreement (this “Agreement”) is made as of [    ], 2020 by and between Prelude Therapeutics Incorporated, a Delaware corporation (the “Company”), and the persons listed on the
attached Schedule A who are signatories to this Agreement (collectively, the “Investors”). Unless otherwise defined herein, capitalized terms used in this Agreement have the respective meanings ascribed to
them in Section 1. 
 RECITALS 

WHEREAS, the Company and the Investors wish to provide for certain arrangements with respect to the registration of the Registrable Securities (as
defined below) by the Company under the Securities Act (as defined below). 
 NOW, THEREFORE, in consideration of the mutual promises and covenants
set forth herein, and other consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 

Section 1. 

Definitions 

1.1.    Certain Definitions. In addition to the terms defined elsewhere in this Agreement, as used in this Agreement, the following
terms have the respective meanings set forth below: 
 (a)    “Board” shall mean the Board of Directors of the Company.

 (b)    “Commission” shall mean the Securities and Exchange Commission or any other federal agency at the time
administering the Securities Act. 
 (c)    “Common Stock” shall mean the voting common stock of the Company, par value
$0.0001 per share. 
 (d)    “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, or any similar
successor federal statute and the rules and regulations thereunder, all as the same shall be in effect from time to time. 

(e)    “Investors’ Rights Agreement” shall mean the Amended and Restated Investors’ Right Agreement, dated as
of August 21, 2020, by and among the Company and the investors named therein. 
 (f)     “Other Investors” shall
mean the “Investors”, as defined in those certain Registration Rights Agreement, of even date herewith, entered into by and between the Company and each of [    ] (collectively, and without taking into account any
amendments thereto after the date hereof, the “Other RRAs”). 
 (g)    “Other Investors’ Registrable
Securities” means the Registrable Securities (as defined in each of the Other RRAs) of the Other Investors. 

 (h)     “Other Securities” shall mean securities of the Company, other
than Registrable Securities or the Other Investors’ Registrable Securities. 
 (i)    “Person” shall mean any
individual, partnership, corporation, company, association, trust, joint venture, limited liability company, unincorporated organization, entity or division, or any government, governmental department or agency or political subdivision thereof. 

(j)    “Registrable Securities” shall mean the shares of Common Stock and any Common Stock issued or issuable upon the
exercise or conversion of any other securities (whether equity, debt or otherwise) of the Company now owned or hereafter acquired by any of the Investors. Registrable Securities held by any of the Investors shall cease to be Registrable Securities
of the Investors upon the earliest to occur of the following events: (i) such Registrable Securities have been sold pursuant to an effective Registration Statement; (ii) such Registrable Securities have been sold by the Investors pursuant
to Rule 144 (or other similar rule), (iii) such Registrable Securities may be resold by the Investor holding such Registrable Securities without limitations as to volume or manner of sale pursuant to Rule 144; or (iv) ten (10) years after the
date of this Agreement. For purposes of this definition, in order to determine whether an Investor is an “affiliate” (as such term is defined and used in Rule 144, and including for determining whether volume or manner of sale limitations
of Rule 144 apply) the parties will assume that all convertible securities (whether equity, debt or otherwise) have been converted into Common Stock without regard to any limitations on conversion applicable thereto. 

(k)    The terms “register,” “registered” and “registration” shall refer to a
registration effected by preparing and filing a Registration Statement in compliance with the Securities Act, and such Registration Statement becoming effective under the Securities Act. 

(l)    “Registration Expenses” shall mean all expenses incurred by the Company in effecting any registration pursuant to
this Agreement, including, without limitation, all registration, qualification, and filing fees, printing expenses, escrow fees, fees and disbursements of counsel for the Company, up to $50,000 of reasonable legal expenses of one special counsel for
Investors (if different from the Company’s counsel and if such counsel is reasonably approved by the Company) in connection with the preparation and filing of the Resale Registration Shelf, and up to $50,000 of reasonable legal expenses of one
special counsel for Investors (if different from the Company’s counsel and if such counsel is reasonably approved by the Company) per underwritten public offering, blue sky fees and expenses, and expenses of any regular or special audits
incident to or required by any such registration, but shall not include Selling Expenses. 
 (m)    “Registration
Statement” means any registration statement of the Company filed with, or to be filed with, the Commission under the Securities Act, including the related prospectus, amendments and supplements to such registration statement, including pre- and post-effective amendments, and all exhibits and all material incorporated by reference in such registration statement as may be necessary to comply with applicable securities laws other than a registration
statement (and related prospectus) filed on Form S-4 or Form S-8 or any successor forms thereto. 

(n)    “Rule 144” shall mean Rule 144 as promulgated by the Commission under the Securities Act, as such rule may be
amended from time to time, or any similar successor rule that may be promulgated by the Commission. 

  
 2 

 (o)    “Securities Act” shall mean the Securities Act of 1933, as
amended, or any similar successor federal statute and the rules and regulations thereunder, all as the same shall be in effect from time to time. 

(p)    “Selling Expenses” shall mean all underwriting discounts and selling commissions applicable to the sale of
Registrable Securities, the fees and expenses of any legal counsel (except as provided in the definition of “Registration Expenses”) and any other advisors any of the Investors engage and all similar fees and commissions relating to the
Investors’ disposition of the Registrable Securities. 
 Section 2. 

Resale Registration Rights 

2.1.    Resale Registration Rights. 

(a)    Following demand by any Investor, the Company shall file with the Commission a Registration Statement on Form S-3 (except if the Company is not then eligible to register for resale the Registrable Securities on Form S-3, in which case such registration shall be on another appropriate
form in accordance with the Securities Act) covering the resale of the Registrable Securities by the Investors (the “Resale Registration Shelf”), and the Company shall file such Resale Registration Shelf as promptly as reasonably
practicable following such demand, and in any event within sixty (60) days of such demand. Such Resale Registration Shelf shall include a “final” prospectus, including the information required by Item 507 of Regulation S-K of the Securities Act, as provided by the Investors in accordance with Section 2.7. Notwithstanding the foregoing, before filing the Resale Registration Shelf, the Company shall furnish to the Investors a
copy of the Resale Registration Shelf and afford the Investors an opportunity to review and comment on the Resale Registration Shelf. The Company’s obligation pursuant to this Section 2.1(a) is conditioned upon the
Investors providing the information contemplated in Section 2.7. 
 (b)    The Company shall use its
reasonable best efforts to cause the Resale Registration Shelf and related prospectuses to become effective as promptly as practicable after filing. The Company shall use its reasonable best efforts to cause such Registration Statement to remain
effective under the Securities Act until the earlier of the date (i) all Registrable Securities covered by the Resale Registration Shelf have been sold or (ii) all Registrable Securities covered by the Resale Registration Shelf otherwise
cease to be Registrable Securities. The Company shall promptly, and within two (2) business days after the Company confirms effectiveness of the Resale Registration Shelf with the Commission, notify the Investors of the effectiveness of the
Resale Registration Shelf. 
 (c)    Notwithstanding anything contained herein to the contrary, the Company shall not be obligated to
effect, or to take any action to effect, a registration pursuant to Section 2.1(a): 
 (i)    if the Company
has and maintains an effective Registration Statement on Form S-3ASR that provides for the resale of an unlimited number of securities by selling stockholders (a “Company Registration Shelf”);

 (ii)    during the period forty-five (45) days prior to the Company’s good faith estimate of the date of filing of a
Company Registration Shelf; or 

  
 3 

 (iii)    if the Company has caused a Registration Statement to become effective
(A) pursuant to this Section 2.1 or (B) Section 2.1 of any of the Other RRAs (and complied with its obligations under Section 2.1(f), below, in connection therewith) during the prior
twelve (12) month period. 
 (d)    If the Company has a Company Registration Shelf in place at any time in which the Investors
make a demand pursuant to Section 2.1(a), the Company shall file with the Commission, as promptly as practicable, and in any event within fifteen (15) business days after such demand, a “final” prospectus
supplement to its Company Registration Shelf covering the resale of the Registrable Securities by the Investors (the “Prospectus”); provided, however, that the Company shall not be obligated to file more than one
Prospectus pursuant to this Section 2.1(d) in any six month period to add additional Registrable Securities to the Company Registration Shelf that were acquired by the Investors other than directly from the Company or in an
underwritten public offering by the Company. The Prospectus shall include the information required under Item 507 of Regulation S-K of the Securities Act, which information shall be provided by the Investors
in accordance with Section 2.7. Notwithstanding the foregoing, before filing the Prospectus, the Company shall furnish to the Investors a copy of the Prospectus and afford the Investors an opportunity to review and comment
on the Prospectus. 
 (e)    Deferral and Suspension. At any time after being obligated to file a Resale Registration Shelf or
Prospectus, or after any Resale Registration Shelf has become effective or a Prospectus is filed with the Commission (in each case, including pursuant to an Other RRA), the Company may defer the filing of or suspend the use of any such Resale
Registration Shelf or Prospectus, upon giving written notice of such action to the Investors with a certificate signed by the Principal Executive Officer of the Company stating that in the good faith judgment of the Board, the filing or use of any
such Resale Registration Shelf or Prospectus covering the Registrable Securities would be seriously detrimental to the Company or its stockholders at such time and that the Board concludes, as a result, that it is in the best interests of the
Company and its stockholders to defer the filing or suspend the use of such Resale Registration Shelf or Prospectus at such time. The Company shall have the right to defer the filing of or suspend the use of such Resale Registration Shelf or
Prospectus for a period of not more than one hundred twenty (120) days from the date the Company notifies the Investors of such deferral or suspension; provided that the Company shall not exercise the right contained in this
Section 2.1(e) more than once in any twelve month period. In the case of the suspension of use of any effective Resale Registration Shelf or Prospectus, the Investors, immediately upon receipt of notice thereof from the
Company, shall discontinue any offers or sales of Registrable Securities pursuant to such Resale Registration Shelf or Prospectus until advised in writing by the Company that the use of such Resale Registration Shelf or Prospectus may be resumed. In
the case of a deferred Prospectus or Resale Registration Shelf filing, the Company shall provide prompt written notice to the Investors of (i) the Company’s decision to file or seek effectiveness of the Prospectus or Resale Registration
Shelf, as the case may be, following such deferral and (ii) in the case of a Resale Registration Shelf, the effectiveness of such Resale Registration Shelf. In the case of either a suspension of use of, or deferred filing of, any Resale
Registration Shelf or Prospectus, the Company shall not, during the pendency of such suspension or deferral, be required to take any action hereunder (including any action pursuant to Section 2.2 hereof) with respect to the
registration or sale of any Registrable Securities pursuant to any such Resale Registration Shelf, Company Registration Shelf or Prospectus. 

  
 4 

 (f)    Piggy-Back Rights. The Company must provide the Investors with ten
(10) days’ notice before filing any Resale Registration Shelf or Prospectus pursuant to a request by the Other Investors pursuant to Section 2.1(a) of the Other RRAs, and, upon the Investors’ written request,
include the Investors as one or more selling stockholders in such Resale Registration Shelf or Prospectus. Section 2.1(g) of the Other RRAs notwithstanding, the securities of the Investors and the Other Investors will be
excluded on a pro rata basis from such Registration Statement if any such exclusion is deemed necessary in order to comply with any applicable laws or request from the Commission, Nasdaq or any applicable listing agency. 

(g)    Other Securities. Any Resale Registration Shelf or Prospectus may include Other Investors’ Registrable Securities,
Other Securities, and may include securities of the Company being sold for the account of the Company; provided (i) such Other Investors’ Registrable Securities are treated in a manner consistent with Section 2.1(f) of the
Other RRAs) and (ii) such Other Securities are excluded first from such Registration Statement in order to comply with any applicable laws or request from the Commission, Nasdaq or any applicable listing agency. For the avoidance of doubt, no
Other Securities may be included in an underwritten offering pursuant to Section 2.2 without the consent of the Investors except as expressly set forth herein. 

2.2.    Sales and Underwritten Offerings of the Registrable Securities. 

(a)    Notwithstanding any provision contained herein to the contrary, the Investors, collectively, shall and subject to the limitations
set forth in this Section 2.2, be entitled to demand up to two underwritten public offerings to effect the sale or distribution of Registrable Securities during the term of this Agreement; provided that the Investors and
the Other Investors shall be entitled to not more than an aggregate of two underwritten public offerings per calendar year pursuant to this Section 2.2 or Section 2.2 of the Other RRAs. 

(b)    If the Investors intend to effect an underwritten public offering pursuant to a Resale Registration Shelf or Company Registration
Shelf to sell or otherwise distribute Registrable Securities, they shall so advise the Company and provide as much notice to the Company as reasonably practicable (and in any event not less than fifteen (15) business days prior to the
Investors’ request that the Company file a prospectus supplement to a Resale Registration Shelf or Company Registration Shelf). 

(c)    In connection with any offering initiated by the Investors pursuant to this Section 2.2 involving an
underwriting of shares of Registrable Securities, the Investors shall be entitled to select the underwriter or underwriters for such offering, subject to the consent of the Company, such consent not to be unreasonably withheld, conditioned or
delayed. 
 (d)    In connection with any offering initiated by the Investors pursuant to this Section 2.2
involving an underwriting of shares of Registrable Securities, the Company shall not be required to include any of the Registrable Securities in such underwriting unless the Investors (i) enter into an underwriting agreement in customary
form with the underwriter or underwriters, (ii) accept customary terms in such underwriting agreement with regard to representations and warranties relating to ownership of the Registrable Securities and authority and power to enter into such
underwriting agreement and (iii) complete and execute all questionnaires, powers of attorney, custody agreements, indemnities and other documents as may be requested by such 

  
 5 

 
underwriter or underwriters. Further, the Company shall not be required to include any of the Registrable Securities in such underwriting if (Y) the underwriting agreement proposed by the
underwriter or underwriters contains representations, warranties or conditions that are not reasonable in light of the Company’s then-current business or (Z) the underwriter, underwriters or the Investors require the Company to participate
in any marketing, road show or comparable activity that may be required to complete the orderly sale of shares by the underwriter or underwriters. 

(e)    Subject to Section 2.2(f) below, the Company must provide the Investors with not less than ten
(10) business days’ notice before effecting an underwritten public offering of Other Investors’ Registrable Securities (including pursuant to Section 2.2 of the Other RRAs) and Other Securities, and, upon the
Investor’s written request, include the Registrable Securities requested by Investor in such underwritten public offering. 

(f)    If the total amount of securities to be sold in any underwritten public offering initiated by the Investors pursuant to this
Section 2.2, or any underwritten public offering initiated by the Other Investors pursuant to their registration rights, exceeds the amount that the underwriters determine in their sole discretion is compatible with the
success of the offering, then the Company shall be required to include in the offering only that number of such securities, including Registrable Securities (subject in each case to the cutback provisions set forth in this
Section 2.2(f)), that the underwriters and the Company determine in their sole discretion shall not jeopardize the success of the offering. If the underwritten public offering has been requested pursuant to
Section 2.2(a) of this Agreement or the Other RRAs, the number of shares that are entitled to be included in the registration and underwriting shall be allocated in the following manner: (a) first, shares of
Company equity securities that the Company desires to include in such registration shall be excluded and (b) second, Registrable Securities requested to be included in such registration by the Investors and the Other Investors shall be
excluded, pro rata. To facilitate the allocation of shares in accordance with the above provisions, the Company or the underwriters may round down the number of shares allocated to any of the Investors or the Other Investors to the nearest
100 shares. 
 2.3.    Fees and Expenses. All Registration Expenses incurred in connection with registrations pursuant to this
Agreement shall be borne by the Company. All Selling Expenses relating to securities registered on behalf of the Investors shall be borne by the Investors. 

2.4.    Registration Procedures. In the case of each registration of Registrable Securities effected by the Company pursuant to
Section 2.1 hereof (including, for the avoidance of doubt, Section 2.1(f)), the Company shall keep the Investors advised as to the initiation of each such registration and as to the status thereof.
The Company shall use its reasonable best efforts, within the limits set forth in this Section 2.4, to: 

(a)    prepare and file with the Commission such amendments and supplements to such Registration Statement and the prospectuses used in
connection with such Registration Statement as may be necessary to keep such Registration Statement effective and current and comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such
Registration Statement; 

  
 6 

 (b)    furnish to the Investors such numbers of copies of a prospectus, including
preliminary prospectuses, in conformity with the requirements of the Securities Act, and such other documents as the Investors may reasonably request in order to facilitate the disposition of Registrable Securities; 

(c)    use its reasonable best efforts to register and qualify the Registrable Securities covered by such Registration Statement under
such other securities or blue sky laws of such jurisdictions in the United States as shall be reasonably requested by the Investors, provided that the Company shall not be required in connection therewith or as a condition thereto to qualify to do
business or to file a general consent to service of process in any such states or jurisdictions; 
 (d)    in the event of any
underwritten public offering, and subject to Section 2.2(d), enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing underwriter of such offering and take such
other usual and customary action as the Investors may reasonably request in order to facilitate the disposition of such Registrable Securities; 

(e)    notify the Investors at any time when a prospectus relating to a Registration Statement covering any Registrable Securities is
required to be delivered under the Securities Act of the happening of any event as a result of which the prospectus included in such Registration Statement, as then in effect, includes an untrue statement of a material fact or omits to state a
material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing. The Company shall use its reasonable best efforts to amend or supplement such prospectus in order
to cause such prospectus not to include any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then
existing; 
 (f)    provide a transfer agent and registrar for all Registrable Securities registered pursuant to such Registration
Statement and, if required, a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration; 

(g)    if requested by an Investor, use reasonable best efforts to cause the Company’s transfer agent to remove any restrictive
legend from any Registrable Securities, within two business days following such request; 
 (h)    cause to be furnished, at the request
of the Investors, on the date that Registrable Securities are delivered to underwriters for sale in connection with an underwritten offering pursuant to this Agreement, (i) an opinion, dated such date, of the counsel representing the Company
for the purposes of such registration, in form and substance as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters, and (ii) a letter or letters from the independent certified public
accountants of the Company, in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public offering, addressed to the underwriters; and 

  
 7 

 (i)    cause all such Registrable Securities included in a Registration Statement
pursuant to this Agreement to be listed on each securities exchange or other securities trading markets on which Common Stock is then listed. 

2.5.    The Investors Obligations. 

(a)    Discontinuance of Distribution. The Investors agree that, upon receipt of any notice from the Company of the occurrence of
any event of the kind described in Section 2.4(e) hereof, the Investors shall immediately discontinue disposition of Registrable Securities pursuant to any Registration Statement covering such Registrable Securities until
the Investors’ receipt of the copies of the supplemented or amended prospectus contemplated by Section 2.4(e) hereof or receipt of notice that no supplement or amendment is required and that the Investors’
disposition of the Registrable Securities may be resumed. The Company may provide appropriate stop orders to enforce the provisions of this Section 2.5(a). 

(b)    Compliance with Prospectus Delivery Requirements. The Investors covenant and agree that they shall comply with the
prospectus delivery requirements of the Securities Act as applicable to them or an exemption therefrom in connection with sales of Registrable Securities pursuant to any Registration Statement filed by the Company pursuant to this Agreement. 

(c)    Notification of Sale of Registrable Securities. The Investors covenant and agree that they shall notify the Company
following the sale of Registrable Securities to a third party as promptly as reasonably practicable, and in any event within thirty (30) days, following the sale of such Registrable Securities. 

2.6.    Indemnification. 

(a)    To the extent permitted by law, the Company shall indemnify the Investors, and, as applicable, their officers, directors, and
constituent partners, legal counsel for each Investor and each Person controlling the Investors, with respect to which registration, related qualification, or related compliance of Registrable Securities has been effected pursuant to this Agreement,
and each underwriter, if any, and each Person who controls any underwriter within the meaning of the Securities Act against all claims, losses, damages, or liabilities (or actions in respect thereof) to the extent such claims, losses, damages, or
liabilities arise out of or are based upon (i) any untrue statement (or alleged untrue statement) of a material fact contained in any prospectus or other document (including any related Registration Statement) incident to any such registration,
qualification, or compliance, or (ii) any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or (iii) any violation or alleged violation
by the Company of the Securities Act, the Exchange Act, any state securities law, or any rule or regulation promulgated under the Securities Act, the Exchange Act or any state securities law applicable to the Company and relating to action or
inaction required of the Company in connection with any such registration, qualification, or compliance; and the Company shall pay as incurred to the Investors, each such underwriter, and each Person who controls the Investors or underwriter, any
legal and any other expenses reasonably incurred in connection with investigating or defending any such claim, loss, damage, liability, or action; provided, however, that the indemnity contained in this
Section 2.6(a) shall not apply to amounts paid in settlement of any such claim, loss, damage, liability, or action if 

  
 8 

 
settlement is effected without the consent of the Company (which consent shall not unreasonably be withheld); and provided, further, that the Company shall not be liable in any such case to the
extent that any such claim, loss, damage, liability, or expense arises out of or is based upon any violation by such Investor of the obligations set forth in Section 2.5 hereof or any untrue statement or omission contained
in such prospectus or other document based upon written information furnished to the Company by the Investors, such underwriter, or such controlling Person and stated to be for use therein. 

(b)    To the extent permitted by law, each Investor (severally and not jointly) shall, if Registrable Securities held by such Investor
are included for sale in the registration and related qualification and compliance effected pursuant to this Agreement, indemnify the Company, each of its directors, each officer of the Company who signs the applicable Registration Statement, each
legal counsel and each underwriter of the Company’s securities covered by such a Registration Statement, each Person who controls the Company or such underwriter within the meaning of the Securities Act against all claims, losses, damages, and
liabilities (or actions in respect thereof) arising out of or based upon (i) any untrue statement (or alleged untrue statement) of a material fact contained in any such Registration Statement, or related document, or (ii) any omission (or
alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or (iii) any violation or alleged violation by such Investor of Section 2.5
hereof, the Securities Act, the Exchange Act, any state securities law, or any rule or regulation promulgated under the Securities Act, the Exchange Act or any state securities law applicable to such Investor and relating to action or inaction
required of such Investor in connection with any such registration and related qualification and compliance, and shall pay as incurred to such persons, any legal and any other expenses reasonably incurred in connection with investigating or
defending any such claim, loss, damage, liability, or action, in each case only to the extent that such untrue statement (or alleged untrue statement) or omission (or alleged omission) is made in (and such violation pertains to) such Registration
Statement or related document in reliance upon and in conformity with written information furnished to the Company by such Investor and stated to be specifically for use therein; provided, however, that the indemnity contained in this
Section 2.6(b) shall not apply to amounts paid in settlement of any such claim, loss, damage, liability, or action if settlement is effected without the consent of such Investor (which consent shall not unreasonably be
withheld); provided, further, that such Investor’s liability under this Section 2.6(b) (when combined with any amounts such Investor is liable for under Section 2.6(d)) shall not exceed
such Investor’s net proceeds from the offering of securities made in connection with such registration. 
 (c)    Promptly after
receipt by an indemnified party under this Section 2.6 of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against an indemnifying party under this
Section 2.6, notify the indemnifying party in writing of the commencement thereof and generally summarize such action. The indemnifying party shall have the right to participate in and to assume the defense of such claim;
provided, however, that the indemnifying party shall be entitled to select counsel for the defense of such claim with the approval of any parties entitled to indemnification, which approval shall not be unreasonably withheld; provided
further, however, that if either party reasonably determines that there may be a conflict between the position of the Company and the Investors in conducting the defense of such action, suit, or proceeding by reason of recognized claims for
indemnity under 

  
 9 

 
this Section 2.6, then counsel for such party shall be entitled to conduct the defense to the extent reasonably determined by such counsel to be necessary to protect the
interest of such party. The failure to notify an indemnifying party promptly of the commencement of any such action, if prejudicial to the ability of the indemnifying party to defend such action, shall relieve such indemnifying party, to the extent
so prejudiced, of any liability to the indemnified party under this Section 2.6, but the omission so to notify the indemnifying party shall not relieve such party of any liability that such party may have to any indemnified
party otherwise than under this Section 2.6. 
 (d)    If the indemnification provided for in this
Section 2.6 is held by a court of competent jurisdiction to be unavailable to an indemnified party with respect to any loss, liability, claim, damage, or expense referred to therein, then the indemnifying party, in lieu of
indemnifying such indemnified party hereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such loss, liability, claim, damage, or expense in such proportion as is appropriate to reflect the relative fault
of the indemnifying party on the one hand and of the indemnified party on the other in connection with the statements or omissions that resulted in such loss, liability, claim, damage, or expense as well as any other relevant equitable
considerations. The relative fault of the indemnifying party and of the indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material
fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission. In no event,
however, shall (i) any amount due for contribution hereunder be in excess of the amount that would otherwise be due under Section 2.6(a) or Section 2.6(b), as applicable, based on the
limitations of such provisions and (ii) a Person guilty of fraudulent misrepresentation (within the meaning of the Securities Act) be entitled to contribution from a Person who was not guilty of such fraudulent misrepresentation. 

(e)    Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting
agreement entered into in connection with an underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control; provided, however, that the failure of the
underwriting agreement to provide for or address a matter provided for or addressed by the foregoing provisions shall not be a conflict between the underwriting agreement and the foregoing provisions. 

(f)    The obligations of the Company and the Investors under this Section 2.6 shall survive the completion of
any offering of Registrable Securities in a Registration Statement under this Agreement or otherwise. 
 2.7.    Information. The
Investors shall furnish to the Company such information regarding the Investors and the distribution proposed by the Investors as the Company may reasonably request and as shall be reasonably required in connection with any registration referred to
in this Agreement. The Investors agree to, as promptly as practicable (and in any event prior to any sales made pursuant to a prospectus), furnish to the Company all information required to be disclosed in order to make the information previously
furnished to the Company by the Investors not misleading. The Investors agree to keep confidential the receipt of any notice received 

  
 10 

 
pursuant to Section 2.4(e) and the contents thereof, except as required pursuant to applicable law. Notwithstanding anything to the contrary herein, the Company shall be
under no obligation to name the Investors in any Registration Statement if the Investors have not provided the information required by this Section 2.7 with respect to the Investors as a selling securityholder in such
Registration Statement or any related prospectus. 
 2.8.    Rule 144 Requirements. With a view to making available to the
Investors the benefits of Rule 144 and any other rule or regulation of the Commission that may at any time permit the Investors to sell Registrable Securities to the public without registration, the Company agrees to use its reasonable best efforts
to: 
 (a)    make and keep public information available, as those terms are understood and defined in Rule 144 at all times after the
date hereof; 
 (b)    file with the Commission in a timely manner all reports and other documents required of the Company under the
Securities Act and the Exchange Act; 
 (c)    prior to the filing of the Registration Statement or any amendment thereto (whether pre-effective or post-effective), and prior to the filing of any prospectus or prospectus supplement related thereto, to provide the Investors with copies of all of the pages
thereof (if any) that reference the Investors; and 
 (d)    furnish to any Investor, so long as the Investor owns any Registrable
Securities, forthwith upon request (i) a written statement by the Company that it has complied with the reporting requirements of Rule 144, (ii) a copy of the most recent annual or quarterly report of the Company and such other reports and
documents so filed by the Company, and (iii) such other information as may be reasonably requested by an Investor in availing itself of any rule or regulation of the Commission which permits an Investor to sell any such securities without
registration. 
 2.9.    Limitations on Subsequent Registration Rights. From and after the date of this Agreement, the Company
shall not, without prior written consent of the Investors, (a) enter into any agreement with any holder or prospective holder of any securities of the Company that would provide to such holder rights with respect to the registration of such
securities under the Securities Act or the Exchange Act that would conflict with or adversely affect any of the rights provided to the Investors in this Section 2, or (b) amend the registration rights provisions of the
Investors’ Rights Agreement or any of the Other RRAs in any manner that would conflict with or adversely affect any of the rights provided to the Investors in this Section 2 (and, in the case of any such amendment, the
Company shall notify the Investors in advance of such amendment for it to determine whether such amendment would conflict with or adversely affects their rights in this Section 2); it being understood and agreed that any subsequent agreement of
the Company with any holder or prospective holder of any securities of the Company of the same class (or convertible into or exchange for securities of the same class) as the Registrable Securities that grants rights equivalent to the rights of the
Investors under this Section 2 will not be prohibited by the terms of this Section 2.9 so long as the inclusion of such holder or prospective holder’s securities will not reduce the number of
the Registrable Securities of the Holders that are included in any registration hereunder or thereunder. 

  
 11 

 Section 3. 

Miscellaneous 

3.1.    Amendment. No amendment, alteration or modification of any of the provisions of this Agreement shall be binding unless made
in writing and signed by each of the Company and the Investors. 
 3.2.    Injunctive Relief. It is hereby agreed and
acknowledged that it shall be impossible to measure in money the damages that would be suffered if the parties fail to comply with any of the obligations herein imposed on them and that in the event of any such failure, an aggrieved Person shall be
irreparably damaged and shall not have an adequate remedy at law. Any such Person shall, therefore, be entitled (in addition to any other remedy to which it may be entitled in law or in equity) to injunctive relief, including, without limitation,
specific performance, to enforce such obligations, and if any action should be brought in equity to enforce any of the provisions of this Agreement, none of the parties hereto shall raise the defense that there is an adequate remedy at law. 

3.3.    Notices. All notices required or permitted under this Agreement must be in writing and sent to the address or facsimile
number identified below. Notices must be given: (a) by personal delivery, with receipt acknowledged; (b) by facsimile followed by hard copy delivered by the methods under clause (c) or (d); (c) by prepaid certified or
registered mail, return receipt requested; or (d) by prepaid reputable overnight delivery service. Notices shall be effective upon receipt. Either party may change its notice address by providing the other party written notice of such change.
Notices shall be delivered as follows: 
  

			
	If to the Investors:	  	At such Investor’s address as set forth on Schedule A hereto
		
	If to the Company:	  	 200 Powder Mill Road, Wilmington, DE 19803

Attention: Chief Executive Officer

		
	with a copy to:	  	 Fenwick & West LLP
 Attention: Robert
Freedman
 555 California Street, 12th Floor

San Francisco, CA 94109
 Email:
rfreedman@fenwick.com

 3.4.    Governing Law; Jurisdiction; Venue; Jury Trial. 

(a)    This Agreement shall be governed by, and construed in accordance with, the law of the State of New York without giving effect to any
choice or conflict of law provision or rule (whether of the State of New York or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of New York. 

(b)    Each of the Company and the Investors irrevocably and unconditionally submits, for itself and its property, to the nonexclusive
jurisdiction of the courts of the State of New York sitting in the Borough of Manhattan, New York and of the United States District Court of the Southern District of New York, and any appellate court from any thereof, in any action or

  
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proceeding arising out of or relating to this Agreement and the transactions contemplated herein, or for recognition or enforcement of any judgment, and each of the Company and the Investors
irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such New York state court or, to the fullest extent permitted by applicable law, in such federal court. Each of the
Company and the Investors hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. 

(c)    Each of the Company and the Investors irrevocably and unconditionally waives, to the fullest extent permitted by applicable law,
any objection that it may now or hereafter have to the laying of venue of any action or proceeding arising out of or relating to this Agreement and the transactions contemplated herein in any court referred to in
Section 3.4(b) hereof. Each of the Company and the Investors hereby irrevocably waives, to the fullest extent permitted by applicable law, the defense of an inconvenient forum to the maintenance of such action or proceeding
in any such court. 
 (d)    EACH OF THE COMPANY AND THE INVESTORS HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH
OF THE COMPANY AND THE INVESTORS (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING
WAIVER AND (B) ACKNOWLEDGES THAT EACH OF THE COMPANY AND THE INVESTORS HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

3.5.    Successors, Assigns and Transferees. Any and all rights, duties and obligations hereunder shall not be assigned,
transferred, delegated or sublicensed by any party hereto without the prior written consent of the other party; provided, however, that the Investors shall be entitled to transfer Registrable Securities to one or more of their
affiliates and, solely in connection therewith, may assign their rights hereunder in respect of such transferred Registrable Securities, in each case, so long as such Investor is not relieved of any liability or obligations hereunder, without the
prior consent of the Company. Any transfer or assignment made other than as provided in the first sentence of this Section 3.5 shall be null and void. Subject to the foregoing and except as otherwise provided herein, the
provisions of this Agreement shall inure to the benefit of, and be binding upon, the successors, permitted assigns, heirs, executors and administrators of the parties hereto. The Company shall not consummate any recapitalization, merger,
consolidation, reorganization or other similar transaction whereby stockholders of the Company receive (either directly, through an exchange, via dividend from the Company or otherwise) equity (the “Other Equity”) in any other
entity (the “Other Entity”) with respect to Registrable Securities hereunder, unless prior to the consummation thereof, the Other Entity assumes, by written instrument, the obligations under this Agreement with respect to such Other
Equity as if such Other Equity were Registrable Securities hereunder. 

  
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 3.6.    Entire Agreement. This Agreement, together with any exhibits hereto,
constitute the entire agreement between the parties relating to the subject matter hereof and all previous agreements or arrangements between the parties, written or oral, relating to the subject matter hereof are superseded. To the extent there is
any conflict between the terms of this Agreement and the terms of the Investors’ Rights Agreement, the terms of this Agreement shall govern. 

3.7.    Waiver. No failure on the part of either party hereto to exercise any power, right, privilege or remedy under this
Agreement, and no delay on the part of either party hereto in exercising any power, right, privilege or remedy under this Agreement, shall operate as a waiver thereof; and no single or partial exercise of any such power, right, privilege or remedy
shall preclude any other or further exercise thereof or of any other power, right, privilege or remedy. 
 3.8.    Severability.
If any part of this Agreement is declared invalid or unenforceable by any court of competent jurisdiction, such declaration shall not affect the remainder of the Agreement and the invalidated provision shall be revised in a manner that shall render
such provision valid while preserving the parties’ original intent to the maximum extent possible. 
 3.9.    Titles and
Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement. All references in this Agreement to sections, paragraphs and exhibits shall,
unless otherwise provided, refer to sections and paragraphs hereof and exhibits attached hereto. References to any section in an Other RRA shall be deemed to refer to the equivalent section in the event of any amendment thereto. 

3.10.    Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be enforceable against the
parties that execute such counterparts (including by facsimile or other electronic means), and all of which together shall constitute one instrument. 

3.11.    Term and Termination. The Investors’ rights to demand the registration of the Registrable Securities under this
Agreement, as well as the Company’s obligations hereunder other than pursuant to Section 2.6 hereof, shall terminate automatically once all Registrable Securities cease to be Registrable Securities pursuant to the
terms of this Agreement. 
 [Remainder of Page Intentionally Left Blank; Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Registration Rights Agreement effective as of the
day, month and year first above written. 
  

			
	 PRELUDE THERAPEUTICS

INCORPORATED

		
	By:	 	  

	Name:	 	Krishna Vaddi
	Title:	 	Chief Executive Officer

 [Signature Page to Registration Rights Agreement] 

 IN WITNESS WHEREOF, the parties hereto have executed this Registration Rights Agreement effective as of the
day, month and year first above written. 
  

			
	[INVESTOR]
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	[INVESTOR]
		
	By:	 	  

	Name:	 	
	Title:	 	

 [Signature Page to Registration Rights Agreement] 

 Schedule A 

The Investors 

[    ]

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