Document:

Exhibit 10.5

 

REGISTRATION RIGHTS AGREEMENT

 

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

 

RECITALS

 

WHEREAS, the Company
and the Sponsor entered into that certain Securities Subscription Agreement, dated as of March 5, 2021, pursuant to which the Sponsor
purchased an aggregate of 100 shares of the Company’s common stock, par value $0.0001 per share, which were split and reclassified
into 6,468,750 shares (the “Initial Founder Shares”) of the Company’s Class B common stock, par
value $0.0001 per share (the “Class B Common Stock”), upon the effectiveness of the Certificate of Amendment
to the Company’s Certificate of Incorporation filed on October 26, 2021;

 

WHEREAS, the Sponsor
subsequently transferred an aggregate of 80,000 Founder Shares to the other Holders, leaving the Sponsor with an aggregate of 6,388,750
shares of Class B Common Stock (the “Founder Shares”);

 

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

 

WHEREAS, on [●],
2021, (i) the Company entered into those certain Private Placement Warrant Purchase
Agreements with each of the Sponsor and Jefferies LLC (“Jefferies”) and (ii) the Company and certain funds and
accounts managed by subsidiaries of BlackRock, Inc. (the “Anchor Investor”) entered into those certain Subscription
Agreements (each of (i) and (ii), a “Private Placement Warrant Purchase Agreement” and, together, the “Private
Placement Warrant Purchase Agreements”), pursuant to which the Sponsor, Jefferies and the Anchor Investor agreed to purchase
an aggregate of 11,000,000 warrants (or up to 12,350,000 warrants if the over-allotment option in connection with the Company’s
initial public offering is exercised in full) (the “Private Placement Warrants”), in a private placement transaction
occurring simultaneously with the closing of the Company’s initial public offering;

 

WHEREAS, in order
to finance the Company’s transaction costs in connection with its search for and consummation of an initial Business Combination
(as defined blow), the Sponsor, an affiliate of the Sponsor, certain of the Company’s officers and directors or other third
parties may loan to the Company funds as the Company may require, of which up to $1,500,000 of such loans may be convertible into
private placement-equivalent warrants (“Working Capital Warrants”) at a price of $1.00 per warrant at
the option of the lender; and

 

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

 

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

 

    	 

    	 

    

 

ARTICLE
1

DEFINITIONS

 

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

 

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

 

“Agreement”
shall have the meaning given in the Preamble. “Board” shall mean the Board of Directors of the Company.

 

“Anchor Investor”
shall have the meaning given in the Recitals hereto.

 

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

 

“Commission”
shall mean the Securities and Exchange Commission.

 

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

 

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

 

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

 

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

 

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

 

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

 

“Form S-3”
shall have the meaning given in subsection 2.3.1.

 

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

 

“Founder Shares
Lock-up Period” shall mean, with respect to the Founder Shares, the period ending on the earlier of (A) one year
after the completion of the Company’s initial Business Combination and (B) subsequent to the initial Business Combination,
(x) if the closing price of the Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends,
reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150
days after the Company’s initial Business Combination or (y) the date on which the Company completes a liquidation, merger,
capital stock exchange, reorganization or other similar transaction that results in all of the Company’s stockholders having
the right to exchange their shares of Common Stock for cash, securities or other property.

 

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

 

“Insider Letters”
shall mean those certain letter agreements, each dated as of [●], 2021, by and between the Company and each of the Company’s
officers and directors and the Sponsor.

 

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

 

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

 

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

 

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

 

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

 

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

 

“Private Placement
Warrant Purchase Agreement” and “Private Placement Warrant Purchase Agreement” shall have
the meanings given in the Recitals hereto.

 

“Pro Rata”
shall have the meaning given in subsection 2.1.4 hereto.

 

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

 

“Registrable
Security” shall mean (a) the Founder Shares, (b) the Private Placement Warrants (including any shares of Common Stock
issued or issuable upon the exercise of any such Private Placement Warrants), (c) any outstanding shares of Common Stock or
any other equity security (including the shares of Common Stock issued or issuable upon the exercise of any other equity security)
of the Company held by a Holder as of the date of this Agreement, (d) any equity securities (including the shares of Common Stock
issued or issuable upon the exercise of any such equity security) of the Company issuable upon conversion of any working capital
loans in an amount up to $1,500,000 made to the Company by a Holder (including the Working Capital Warrants and shares of Common
Stock issued or issuable upon the exercise of the Working Capital Warrants), and (e) any other equity security of the Company issued
or issuable with respect to any such share of Common Stock by way of a stock dividend or stock split or in connection with a combination
of shares, recapitalization, merger, consolidation or reorganization; provided, however, that, as to any particular Registrable
Security, such securities shall cease to be Registrable Securities when:

 

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(A)               
a Registration Statement with respect to the sale of such securities shall have become effective
under the Securities Act and such securities shall have been sold, transferred, disposed of or exchanged in accordance with such
Registration Statement;

 

(B)               
such securities shall have been otherwise transferred, new certificates for such securities
not bearing a legend restricting further transfer shall have been delivered by the Company and subsequent public distribution of
such securities shall not require registration under the Securities Act;

 

(C)               
such securities shall have ceased to be outstanding;

 

(D)               
such securities may be sold without registration pursuant to Rule 144 promulgated under the
Securities Act (or any successor rule promulgated thereafter by the Commission) (but with no volume or other restrictions or limitations);
or

 

(E)               
such securities have been sold to, or through, a broker, dealer or underwriter in a public
distribution or other public securities transaction.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Subsequent Shelf
Registration” shall have the meaning given in subsection 2.3.2.

 

“Takedown Requesting
Holder” shall have the meaning given in subsection 2.3.3.

 

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

 

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

 

“Underwritten Shelf
Takedown” shall have the meaning given in subsection 2.3.3.

  

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

 

ARTICLE
2

REGISTRATIONS

 

2.1.             
Demand Registration.

 

2.1.1.                  
Request for Registration. Subject to the provisions
of subsection 2.1.4 and Section 2.4 hereof, at any time and from time to time on or after the date the Company consummates the
Business Combination, the Holders of at least fifteen percent (15%) of the then-outstanding number of Registrable Securities (the
“Demanding Holders”) may make a written demand for Registration of all or part of their Registrable Securities,
which written demand shall describe the amount and type of securities to be included in such Registration and the intended method(s)
of distribution thereof (such written demand a “Demand Registration”). The Company shall, within ten
(10) days of the Company’s receipt of the Demand Registration, notify, in writing, all other Holders of Registrable Securities
of such demand, and each Holder of Registrable Securities who thereafter wishes to include all or a portion of such Holder’s
Registrable Securities in a Registration pursuant to a Demand Registration (each such Holder that includes all or a portion of
such Holder’s Registrable Securities in such Registration, a “Requesting Holder”) shall so notify
the Company, in writing, within five (5) days after the receipt by the Holder of the notice from the Company. Upon receipt by the
Company of any such written notification from a Requesting Holder(s) to the Company, such Requesting Holder(s) shall be entitled
to have their Registrable Securities included in a Registration pursuant to a Demand Registration and the Company shall effect,
as soon thereafter as practicable, but not more than forty five (45) days immediately after the Company’s receipt of the
Demand Registration, the Registration of all Registrable Securities requested by the Demanding Holders and Requesting Holders pursuant
to such Demand Registration. Under no circumstances shall the Company be obligated to effect more than an aggregate of three (3)
Registrations pursuant to a Demand Registration under this subsection 2.1.1 with respect to any or all Registrable Securities;
provided, however, that a Registration shall not be counted for such purposes unless a Form S-1 or any similar long-form
registration statement that may be available at such time (“Form S-1”) has become effective and all of
the Registrable Securities requested by the Requesting Holders to be registered on behalf of the Requesting Holders in such Form
S-1 Registration have been sold, in accordance with Section 3.1 of this Agreement.

 

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

 

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

 

2.1.4.                  
Reduction of Underwritten Offering. If the managing
Underwriter or Underwriters in an Underwritten Registration pursuant to a Demand Registration, in good faith, advises the Company,
the Demanding Holders and the Requesting Holders (if any) in writing that the dollar amount or number of Registrable Securities
that the Demanding Holders and the Requesting Holders (if any) desire to sell, taken together with all other Common Stock or other
equity securities that the Company desires to sell and the Common Stock, if any, as to which a Registration has been requested
pursuant to separate written contractual piggy-back registration rights held by any other stockholders who desire to sell, exceeds
the maximum dollar amount or maximum number of equity securities that can be sold in the Underwritten Offering without adversely
affecting the proposed offering price, the timing, the distribution method, or the probability of success of such offering (such
maximum dollar amount or maximum number of such securities, as applicable, the “Maximum Number of Securities”),
then the Company shall include in such Underwritten Offering, as follows: (i) first, the Registrable Securities of the Demanding
Holders and the Requesting Holders (if any) (pro rata based on the respective number of Registrable Securities that each Demanding
Holder and Requesting Holder (if any) has requested be included in such Underwritten Registration and the aggregate number of Registrable
Securities that the Demanding Holders and Requesting Holders have requested be included in such Underwritten Registration (such
proportion is referred to herein as “Pro Rata”)) that can be sold without exceeding the Maximum Number
of Securities; (ii) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause
(i), the Registrable Securities of Holders (Pro Rata, based on the respective number of Registrable Securities that each Holder
has so requested) exercising their rights to register their Registrable Securities pursuant to subsection 2.2.1 hereof, without
exceeding the Maximum Number of Securities; and (iii) third, to the extent that the Maximum Number of Securities has not been reached
under the foregoing clauses (i) and (ii), the Common Stock or other equity securities that the Company desires to sell, which can
be sold without exceeding the Maximum Number of Securities; and (iv) fourth, to the extent that the Maximum Number of Securities
has not been reached under the foregoing clauses (i), (ii) and (iii), the Common Stock or other equity securities of other persons
or entities that the Company is obligated to register in a Registration pursuant to separate written contractual arrangements with
such persons and that can be sold without exceeding the Maximum Number of Securities.

 

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

 

2.2.             
Piggyback Registration.

 

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

 

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

 

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

 

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

 

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

 

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

 

2.3.             
Registrations on Form S-3.

 

2.3.1              The
Holders of Registrable Securities may at any time, and from time to time, request in writing that the Company, pursuant to Rule 415 under
the Securities Act (or any successor rule promulgated thereafter by the Commission), register the resale of any or all of their Registrable
Securities on Form S-3 or any similar short form registration statement that may be available at such time (“Form S-3”)
or, if the Company is ineligible to use Form S-3, on Form S-1; provided, however, that the Company shall not be obligated to effect such
request through an Underwritten

 

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Offering. Within five (5) days of the Company’s receipt of a written request from a
Holder or Holders of Registrable Securities for a Registration on Form S-3, the Company shall promptly give written notice of the
proposed Registration on Form S-3 to all other Holders of Registrable Securities, and each Holder of Registrable Securities who
thereafter wishes to include all or a portion of such Holder’s Registrable Securities in such Registration on Form S-3 shall
so notify the Company, in writing, within ten (10) days after the receipt by the Holder of the notice from the Company. As soon
as practicable thereafter, but not more than twelve (12) days after the Company’s initial receipt of such written request
for a Registration on Form S-3, the Company shall register all or such portion of such Holder’s Registrable Securities as
are specified in such written request, together with all or such portion of Registrable Securities of any other Holder or Holders
joining in such request as are specified in the written notification given by such Holder or Holders; provided, however, that the
Company shall not be obligated to effect any such Registration pursuant to Section 2.3 hereof if (i) a Form S-3 is not available
for such offering; or (ii) the Holders of Registrable Securities, together with the Holders of any other equity securities of the
Company entitled to inclusion in such Registration, propose to sell the Registrable Securities and such other equity securities
(if any) at any aggregate price to the public of less than $10,000,000. The Company shall maintain each registration statement
pursuant to this Section 2.3 (a “Shelf”) in accordance with the terms hereof, and shall prepare and file
with the SEC such amendments, including post-effective amendments, and supplements as may be necessary to keep such Shelf continuously
effective, available for use and in compliance with the provisions of the Securities Act until such time as there are no longer
any Registrable Securities included on such Shelf. In the event the Company files a Shelf on Form S-1, the Company shall use its
commercially reasonable efforts to convert the Form S-1 to a Form S-3 as soon as practicable after the Company is eligible to use
Form S-3. Registrations effected pursuant to this Section 2.3 shall not be counted as Demand Registrations effected pursuant to
Section 2.1.

 

2.3.2.            If any Shelf ceases
to be effective under the Securities Act for any reason at any time while Registrable Securities included thereon are still outstanding,
the Company shall use its commercially reasonable efforts to as promptly as is reasonably practicable cause such Shelf to again become
effective under the Securities Act (including obtaining the prompt withdrawal of any order suspending the effectiveness of such Shelf),
and shall use its commercially reasonable efforts to as promptly as is reasonably practicable amend such Shelf in a manner reasonably
expected to result in the withdrawal of any order suspending the effectiveness of such Shelf or file an additional registration statement
(a “Subsequent Shelf Registration”) registering the resale of all Registrable Securities included on such Shelf,
and pursuant to any method or combination of methods legally available to, and requested by, any Holder. If a Subsequent Shelf Registration
is filed, the Company shall use its commercially reasonable efforts to (i) cause such Subsequent Shelf Registration to become effective
under the Securities Act as promptly as is reasonably practicable after the filing thereof and (ii) keep such Subsequent Shelf Registration
continuously effective, available for use and in compliance with the provisions of the Securities Act until such time as there are no
longer any Registrable Securities included thereon. Any such Subsequent Shelf Registration shall be on Form S-3 to the extent that the
Company is eligible to use such form. Otherwise, such Subsequent Shelf Registration shall be on another appropriate form. In the event
that any Holder holds Registrable Securities that are not registered for resale on a delayed or continuous basis, the Company, upon request
of a Holder, shall promptly use its commercially reasonable efforts to cause the resale of such Registrable Securities to be covered by
either, at the Company’s option, a Shelf (including by means of a post-effective amendment) or a Subsequent Shelf Registration and
cause the same to become effective as soon as practicable after such filing and such Shelf or Subsequent Shelf Registration shall be subject
to the terms hereof; provided, however, the Company shall only be required to cause such Registrable Securities to be so covered once
annually after inquiry of the Holders.

 

2.3.3.            At
any time and from time to time after a Shelf has been declared effective by the Commission, the Sponsor and the Takedown Requesting Holder
(as defined below) (if any) may request to sell all or any portion of its Registrable Securities in an underwritten offering that is registered
pursuant to the Shelf (each, an “Underwritten Shelf Takedown”); provided that the Company shall only be obligated
to effect an Underwritten Shelf Takedown if such offering shall include securities with a total offering price (including piggyback securities
and before deduction of underwriting discounts) reasonably expected to exceed, in the aggregate, $10,000,000. All requests for Underwritten
Shelf Takedowns shall be made by giving written notice to the Company at least 48 hours prior to the public announcement of such Underwritten
Shelf Takedown, which shall specify the approximate number of Registrable Securities proposed to be sold in the Underwritten Shelf Takedown
and the expected price range (net of underwriting discounts and commissions) of such Underwritten Shelf Takedown. The Company shall include
in any Underwritten Shelf Takedown the Registrable Securities requested to be included by any Holder (each a “Takedown Requesting
Holder”) at least 24 hours prior to the public announcement of such Underwritten Shelf Takedown pursuant to written contractual
piggyback registration rights of such holder (including to those set forth herein). The Sponsor and the Takedown Requesting Holder (if
any) shall have the right to select the underwriter(s) for such offering (which shall consist of one or more reputable nationally recognized
investment banks), subject to the Company’s prior approval, which shall not be unreasonably withheld, conditioned or delayed. For
purposes of clarity, any Registration effected pursuant to this subsection 2.3.3 shall not be counted as a Registration pursuant to a
Demand Registration effected under Section 2.1 hereof.

 

     9

     

    

 

2.3.4.             If
the managing Underwriter or Underwriters in an Underwritten Shelf Takedown, in good faith, advises the Company, the Sponsor and the Takedown
Requesting Holders (if any) in writing that the dollar amount or number of Registrable Securities that the Sponsor and the Takedown Requesting
Holders (if any) desire to sell, taken together with all other Common Stock or other equity securities that the Company desires to sell,
exceeds the Maximum Number of Securities, then the Company shall include in such Underwritten Shelf Takedown, as follows: (i) first, the
Registrable Securities of the Sponsor that can be sold without exceeding the Maximum Number of Securities; (ii) second, to the extent
that the Maximum Number of Securities has not been reached under the foregoing clause (i), the Common Stock or other equity securities
that the Company desires to sell, which can be sold without exceeding the Maximum Number of Securities; and (iii) third, to the extent
that the Maximum Number of Securities has not been reached under the foregoing clauses (i) and (ii), the Registrable Securities of the
Takedown Requesting Holders, if any, that can be sold without exceeding the Maximum Number of Securities, determined pro rata based on
the number of Registrable Securities that each Takedown Requesting Holder has requested be included in such Underwritten Shelf Takedown
and the aggregate number of Registrable Securities that the Takedown Requesting Holders have requested to be included in such Underwritten
Shelf Takedown, which can be sold without exceeding the Maximum Number of Securities.

 

2.3.5.             The
Sponsor and the Takedown Requesting Holder (if any) shall have the right to withdraw from an Underwritten Shelf Takedown for any or no
reason whatsoever upon written notification to the Company and the Underwriter or Underwriters (if any) of its intention to withdraw from
such Underwritten Shelf Takedown prior to the public announcement of such Underwritten Shelf Takedown. Notwithstanding anything to the
contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with an Underwritten
Shelf Takedown prior to a withdrawal under this subsection 2.3.5.

  

2.4.             
Restrictions on Registration Rights. If (A) during
the period starting with the date sixty (60) days prior to the Company’s good faith estimate of the date of the filing of,
and ending on a date one hundred and twenty (120) days after the effective date of, a Company initiated Registration and provided
that the Company has delivered written notice to the Holders prior to receipt of a Demand Registration pursuant to subsection 2.1.1
and it continues to actively employ, in good faith, all reasonable efforts to cause the applicable Registration Statement to become
effective; (B) the Holders have requested an Underwritten Registration and the Company and the Holders are unable to obtain the
commitment of underwriters to firmly underwrite the offer; or (C) in the good faith judgment of the Board such Registration would
be seriously detrimental to the Company and the Board concludes as a result that it is essential to defer the filing of such Registration
Statement at such time, then in each case the Company shall furnish to such Holders a certificate signed by the Chairman of the
Board stating that in the good faith judgment of the Board it would be seriously detrimental to the Company for such Registration
Statement to be filed in the near future and that it is therefore essential to defer the filing of such Registration Statement.
In such event, the Company shall have the right to defer such filing for a period of not more than thirty (30) days; provided,
however, that the Company shall not defer its obligation in this manner more than once in any 12-month period. Notwithstanding
anything to the contrary contained in this Agreement, no Registration shall be effected or permitted and no Registration Statement
shall become effective, with respect to any Registrable Securities held by any Holder, until after the expiration of the Founder
Shares Lock-Up Period or the Private Placement Lock-Up Period, as the case may be.

 

2.5.             
Waiver. Notwithstanding anything in this Agreement
to the contrary, (A) each of [●] (collectively, the “BlackRock Holders”) hereby waives any
and all rights (i) to receive notice of a Demand Registration relating to any Underwritten Offering as provided for in this Section
2 or (ii) participate in any such Underwritten Offering, and (B) the Company hereby agrees not to notify any of the BlackRock Holders
of any Underwritten Offering or provide any of the BlackRock Holders with any information relating thereto.

 

     10

     

    

 

ARTICLE
3

COMPANY PROCEDURES

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

     11

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

     12

     

    

 

3.1.15.              
if the Registration involves the Registration of Registrable Securities involving gross
proceeds in excess of $25,000,000, use its reasonable efforts to make available senior executives of the Company to participate
in customary “road show” presentations that may be reasonably requested by the Underwriter in any Underwritten Offering;
and

 

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

 

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

 

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

 

3.4.             
Suspension of Sales; Adverse Disclosure. Upon receipt
of written notice from the Company that a Registration Statement or Prospectus contains a Misstatement, each of the Holders shall
forthwith discontinue disposition of Registrable Securities until such Holder has received copies of a supplemented or amended
Prospectus correcting the Misstatement (it being understood that the Company hereby covenants to prepare and file such supplement
or amendment as soon as practicable after the time of such notice), or until such Holder is advised in writing by the Company that
the use of the Prospectus may be resumed. If the filing, initial effectiveness or continued use of a Registration Statement in
respect of any Registration at any time would require the Company to make an Adverse Disclosure or would require the inclusion
in such Registration Statement of financial statements that are unavailable to the Company for reasons beyond the Company’s
control, the Company may, upon giving prompt written notice of such action to the Holders, delay the filing or initial effectiveness
of, or suspend use of, such Registration Statement for the shortest period of time, but in no event more than thirty (30) days,
determined in good faith by the Company to be necessary for such purpose. In the event the Company exercises its rights under the
preceding sentence, the Holders agree to suspend, immediately upon their receipt of the notice referred to above, their use of
the Prospectus relating to any Registration in connection with any sale or offer to sell Registrable Securities. The Company shall
immediately notify the Holders of the expiration of any period during which it exercised its rights under this Section 3.4.

 

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

 

     13

     

    

 

3.6.             
Limitations on Registration Rights. Notwithstanding anything herein to the contrary, (i) Jefferies may not exercise its rights
under Sections 2.1 and 2.2 hereunder after five (5) and seven (7) years after the commencement of sales in the Company’s initial
public offering, respectively, and (ii) Jefferies may not exercise its rights under Section 2.1 more than one
 time. 

 

ARTICLE
4

INDEMNIFICATION AND CONTRIBUTION

 

4.1.             
Indemnification.

 

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

 

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

     14

     

    

 

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

 

4.1.4.                  
The indemnification provided for under this Agreement shall remain in full force and effect
regardless of any investigation made by or on behalf of the indemnified party or any officer, director or controlling person of
such indemnified party and shall survive the transfer of securities. The Company and each Holder of Registrable Securities participating
in an offering also agrees to make such provisions as are reasonably requested by any indemnified party for contribution to such
party in the event the Company’s or such Holder’s indemnification is unavailable for any reason.

 

4.1.5.                  
If the indemnification provided under Section 4.1 hereof from the indemnifying party is
unavailable or insufficient to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities and expenses
referred to herein, then the indemnifying party, in lieu of indemnifying the indemnified party, shall contribute to the amount
paid or payable by the indemnified party as a result of such losses, claims, damages, liabilities and expenses in such proportion
as is appropriate to reflect the relative fault of the indemnifying party and the indemnified party, as well as any other relevant
equitable considerations. The relative fault of the indemnifying party and indemnified party shall be determined by reference to,
among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission
or alleged omission to state a material fact, was made by, or relates to information supplied by, such indemnifying party or indemnified
party, and the indemnifying party’s and indemnified party’s relative intent, knowledge, access to information and opportunity
to correct or prevent such action; provided, however, that the liability of any Holder under this subsection 4.1.5 shall
be limited to the amount of the net proceeds received by such Holder in such offering giving rise to such liability. The amount
paid or payable by a party as a result of the losses or other liabilities referred to above shall be deemed to include, subject
to the limitations set forth in subsections 4.1.1, 4.1.2 and 4.1.3 above, any legal or other fees, charges or expenses reasonably
incurred by such party in connection with any investigation or proceeding. The parties hereto agree that it would not be just and
equitable if contribution pursuant to this subsection 4.1.5 were determined by pro rata allocation or by any other method of allocation,
which does not take account of the equitable considerations referred to in this subsection 4.1.5. No person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution pursuant to this
subsection 4.1.5 from any person who was not guilty of such fraudulent misrepresentation.

 

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ARTICLE
5

MISCELLANEOUS

  

5.1.             
Notices. Any notice or communication under this Agreement
must be in writing and given by (i) deposit in the United States mail, addressed to the party to be notified, postage prepaid and
registered or certified with return receipt requested, (ii) delivery in person or by courier service providing evidence of delivery,
or (iii) transmission by hand delivery, electronic mail, telecopy, telegram or facsimile. Each notice or communication that is
mailed, delivered, or transmitted in the manner described above shall be deemed sufficiently given, served, sent, and received,
in the case of mailed notices, on the third business day following the date on which it is mailed and, in the case of notices delivered
by courier service, hand delivery, electronic mail, telecopy, telegram or facsimile, at such time as it is delivered to the addressee
(with the delivery receipt or the affidavit of messenger) or at such time as delivery is refused by the addressee upon presentation.
Any notice or communication under this Agreement must be addressed, if to the Company, to: (i) 1909 Woodall Rodgers Freeway, Suite
500, Dallas, TX 75201, Attention: Scott Reed, or (ii) sreed@lfcapital.co (in each case of (i) and (ii), with a copy (which shall
not constitute notice) to Martin Nussbaum, Esq. at martin.nussbaum@dechert.com) and, if to any Holder, at such Holder’s address
or contact information as set forth in the Company’s books and records. Any party may change its address for notice at any
time and from time to time by written notice to the other parties hereto, and such change of address shall become effective thirty
(30) days after delivery of such notice as provided in this Section 5.1.

 

5.2.             
Assignment; No Third Party Beneficiaries.

 

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

 

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

 

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

 

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

 

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

 

5.3.             
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 that is valid and enforceable.

 

5.4.             
Counterparts. This Agreement may be executed in multiple
counterparts (including facsimile or PDF counterparts), each of which shall be deemed an original, and all of which together shall
constitute the same instrument, but only one of which need be produced.

 

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5.5.             
Governing Law; Venue. NOTWITHSTANDING THE PLACE WHERE
THIS AGREEMENT MAY BE EXECUTED BY ANY OF THE PARTIES HERETO, THE PARTIES EXPRESSLY AGREE THAT (I) THIS AGREEMENT SHALL BE GOVERNED
BY AND CONSTRUED UNDER THE LAWS OF THE STATE OF NEW YORK AS APPLIED TO AGREEMENTS AMONG NEW YORK RESIDENTS ENTERED INTO AND TO
BE PERFORMED ENTIRELY WITHIN NEW YORK, WITHOUT REGARD TO THE CONFLICT OF LAW PROVISIONS OF SUCH JURISDICTION AND (II) THE VENUE
FOR ANY ACTION TAKEN WITH RESPECT TO THIS AGREEMENT SHALL BE ANY STATE OR FEDERAL COURT IN NEW YORK COUNTY IN THE STATE OF NEW
YORK.

 

5.6.             
Waiver of Trial by Jury. Each party hereby irrevocably
and unconditionally waives the right to a trial by jury in any action, suit, counterclaim or other proceeding (whether based on
contract, tort or otherwise) arising out of, connected with or relating to this Agreement, the transactions contemplated hereby,
or the actions of the Sponsor in the negotiation, administration, performance or enforcement hereof.

 

5.7.             
Amendments and Modifications. Upon the written consent of the Company and the Holders of at least a majority
in interest of the Registrable Securities at the time in question (which majority interest must include Jefferies if such amendment
or modification affects in any way the rights of Jefferies hereunder), compliance with any of the provisions, covenants and conditions
set forth in this Agreement may be waived, or any of such provisions, covenants or conditions may be amended or modified; provided,
however, that notwithstanding the foregoing, (a) any amendment hereto or waiver hereof that adversely affects one Holder, solely in
that Holder’s capacity as a holder of the shares of capital stock of the Company, in a manner that is materially different from
the other Holders (in such capacity) shall require the consent of the Holder so affected and (b) any amendment hereto or waiver hereof
that adversely affects the right of any BlackRock Holder shall require the consent of such entity. No course of dealing between any Holder
or the Company and any other party hereto or any failure or delay on the part of a Holder or the Company in exercising any rights or remedies
under this Agreement shall operate as a waiver of any rights or remedies of any Holder or the Company. No single or partial exercise of
any rights or remedies under this Agreement by a party shall operate as a waiver or preclude the exercise of any other rights or remedies
hereunder or thereunder by such party.

 

5.8.             
Titles and Headings. Titles and headings of sections
of this Agreement are for convenience only and shall not affect the construction of any provision of this Agreement.

 

5.9.             
Remedies Cumulative. In the event that the Company
fails to observe or perform any covenant or agreement to be observed or performed under this Agreement, the Holders may proceed
to protect and enforce their rights by suit in equity or action at law, whether for specific performance of any term contained
in this Agreement or for an injunction against the breach of any such term or in aid of the exercise of any power granted in this
Agreement or to enforce any other legal or equitable right, or to take any one or more of such actions, without being required
to post a bond. None of the rights, powers or remedies conferred under this Agreement shall be mutually exclusive, and each such
right, power or remedy shall be cumulative and in addition to any other right, power or remedy, whether conferred by this Agreement
or now or hereafter available at law, in equity, by statute or otherwise.

 

5.10.          
Other Registration Rights. The Company represents
and warrants that no person, other than a Holder of Registrable Securities, has any right to require the Company to register any
securities of the Company for sale or to include such securities of the Company in any Registration filed by the Company for the
sale of securities for its own account or for the account of any other person. Further, the Company represents and warrants that
this Agreement supersedes any other registration rights agreement or agreement with similar terms and conditions and in the event
of a conflict between any such agreement or agreements and this Agreement, the terms of this Agreement shall prevail.

 

     17

     

    

 

5.11.          
Term. This Agreement shall terminate upon the earlier
of (i) the tenth anniversary of the date of this Agreement or (ii) the date as of which (A) all of the Registrable Securities have
been sold pursuant to a Registration Statement (but in no event prior to the applicable period referred to in Section 4(a)(3) of
the Securities Act and Rule 174 thereunder (or any successor rule promulgated thereafter by the Commission)) or (B) the Holders
of all Registrable Securities are permitted to sell the Registrable Securities without registration pursuant to Rule 144 (or any
similar provision) under the Securities Act without limitation on the amount of securities sold or the manner of sale. The provisions
of Section 3.5 and Article IV shall survive any termination.

 

[Signature Pages Follow]

 

     18

     

    

 

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

 

	 	COMPANY:
	 	 
	 	LF
CAPITAL ACQUISITION CORP. II,
	 	a
Delaware corporation
	 	 
	 	By:	 
	 	 
	 	Name:	Scott Reed
	 	 
	 	Title:	President, Chief
Executive Officer
	 	 
	 	SPONSOR:
	 	 
	 	LEVEL
FIELD CAPITAL II, LLC,
	 	a
Delaware limited liability company

 

	 	By:	LEVEL FIELD PARTNERS II, LLC,
	 	 	its managing member
	 	 	 	 
	 	By:	LEVEL FIELD MANAGEMENT II, LLC,
	 	 	its managing member
	 	 	 	 
	 	By:	 
	 	 	Name: Elias Farhat
	 	 	Title: Member
	 	 	 	 
	 	By:	 
	 	 	Name: Djemi Traboulsi
	 	 	Title: Member

 

[Signature Page to Registration Rights Agreement]

 

    	 

    	 

    

 

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

 

	 	HOLDERS:
	 	 
	 	JEFFERIES
LLC
	 	 
	 	By:
	 	 
	 	By:	 
	 	Name:
	 	Title
	 	 
	 	[●]
	 	 
	 	By:
	 	 
	 	By:	 
	 	Name:
	 	Title:
	 	 
	 	[●]
	 	 
	 	By:
	 	 
	 	By:	 
	 	Name:
	 	Title:
	 	 
	 	[●]
	 	 
	 	By:
	 	 
	 	By:	 
	 	Name:
	 	Title:

 

[Signature Page to Registration Rights Agreement]

 

    	 

    	 

    

 

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

 

	 	HOLDERS:
	 	 
	 	ROBERT BLACK
	 	 
	 	 
	 	JAMES HODGE
	 	 
	 	 
	 	HABIB KAIROUZ
	 	 
	 	 
	 	JODI SHELTON
	 	 

 

[Signature Page to Registration Rights Agreement]Exhibit 10.6

 

LF Capital Acquisition Corp. II

1909 Woodall Rodgers Freeway, Suite 500

Dallas, TX 75201

 

March 5, 2021

 

Level Field Capital II, LLC

1909 Woodall Rodgers Freeway, Suite 500

Dallas, TX 75201

 

 

 

RE:      Securities Subscription Agreement

 

Ladies and Gentlemen:

 

LF Capital Acquisition
Corp. II, a Delaware corporation (the “Company”), is pleased to accept the offer Level Field Capital II, LLC,
a Delaware limited liability company (the “Subscriber” or “you”), has made to purchase 100
shares of the Company’s common stock (the “Shares”), $0.0001 par value per share, which shall automatically
split and be reclassified into 6,468,750 shares of the Company’s Class B common stock, $0.0001 par value per share (the “Class
B Common Stock”) upon the effectiveness of the Certificate of Amendment to the Company’s Certificate of Incorporation
attached hereto as Exhibit A (the “Amendment”), up to 843,750 of which are subject to complete or partial
forfeiture by you if the underwriters of the Company’s initial public offering (“IPO”) do not fully exercise
their over-allotment option (the “Over-allotment Option”). For the purposes of this Agreement, references to
“Common Stock” are to, collectively, the Class B Common Stock and the Company’s Class A common stock,
$0.0001 par value per share (the “Class A Common Stock”). Pursuant to the Company’s certificate of incorporation
(as amended by the Amendment, the “Charter”), shares of Class B Common Stock will convert into shares of Class
A Common Stock on a one-for-one basis, subject to adjustment, upon the terms and conditions sets forth in the Charter. Unless the
context otherwise requires, as used herein “Securities” shall refer to the Shares and shall be deemed to include
any shares of Class A Common Stock issued upon conversion of the Shares. The terms (this “Agreement”) on which
the Company is willing to sell the Shares to the Subscriber, and the Company and the Subscriber’s agreements regarding such
Shares, are as follows:

 

1.                  
Purchase of Shares. For the sum of $25,000 (the “Purchase Price”),
the receipt of which the Company acknowledges, the Company hereby sells and issues the Shares to the Subscriber, and the Subscriber
hereby purchases the Shares from the Company, subject to forfeiture, on the terms and subject to the conditions set forth in this
Agreement. Concurrently with the Subscriber’s execution of this Agreement, the Company shall, at its option, deliver to the
Subscriber a certificate registered in the Subscriber’s name representing the shares (the “Original Certificate”),
or effect such delivery in book-entry form.

 

2.                  
Representations, Warranties and Agreements.

 

2.1.             
Subscriber’s Representations, Warranties and Agreements. To induce the Company
to issue the 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 or (iii)
any law, statute, rule or regulation to which the Subscriber is subject, or any agreement, order, judgment or decree to which the
Subscriber is subject.

 

    	 

    	 

    

 

2.1.3.        
Organization and Authority. The Subscriber is a Delaware limited liability company,
validly existing and in good standing under the laws of Delaware and possesses all requisite power and authority necessary to carry
out the transactions contemplated by this Agreement. Upon execution and delivery by you, this Agreement is a legal, valid and binding
agreement of the Subscriber, enforceable against the 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. The Subscriber is: (i) sophisticated
in financial matters and able to evaluate the risks and benefits of the investment in the Securities 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 (as defined below) and therefore cannot be sold unless subsequently registered under the Securities Act
or an exemption from such registration is available. The Subscriber is capable of evaluating the merits and risks of its investment
in the Company and has the capacity to protect its own interests. The Subscriber must bear the economic risk of this investment
until the Securities are sold pursuant to: (i) an effective registration statement under the Securities Act or (ii) an exemption
from registration available with respect to such sale. The Subscriber is able to bear the economic risks of an investment in the
Securities and to afford a complete loss of the Subscriber’s investment in the Securities.

 

2.1.5.        
Access to Information; Independent Investigation. Prior to the execution of this Agreement,
the Subscriber has had the opportunity to ask questions of and receive answers from representatives of the Company concerning an
investment in the Company, as well as the finances, operations, business and prospects of the Company, and the opportunity to obtain
additional information to verify the accuracy of all information so obtained. In determining whether to make this investment, the
Subscriber has relied solely on the Subscriber’s own knowledge and understanding of the Company and its business based upon
the Subscriber’s own due diligence investigation and the information furnished pursuant to this paragraph. The Subscriber
understands that no person has been authorized to give any information or to make any representations which were not furnished
pursuant to this Section 2 and the 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. The Subscriber represents that it is an “accredited investor”
as such term is defined in Rule 501(a) of Regulation D under the Securities Act of 1933, as amended (the “Securities Act”)
and acknowledges the sale contemplated hereby is being made in reliance on a private placement exemption to “accredited investors”
within the meaning of Section 501(a) of Regulation D under the Securities Act or similar exemptions under state law.

 

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

 

    	2

    	 

    

 

2.1.8.        
Restrictions on Transfer; Shell Company. The Subscriber understands the Securities
are being offered in a transaction not involving a public offering within the meaning of the Securities Act. The Subscriber understands
the Securities will be “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act and the
Subscriber understands that the certificates or book-entries 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. The 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, the 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.
The 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 year following consummation of the initial business combination of the Company, despite
technical compliance with the requirements of Rule 144 and the release or waiver of any contractual transfer restrictions.

 

2.1.9.        
No Governmental Consents. No governmental, administrative or other third party consents
or approvals are required, necessary or appropriate on the part of the 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 and Corporate Power. The Company is a Delaware corporation and is qualified
to do business in every jurisdiction in which the failure to so qualify would reasonably be expected to have a material adverse
effect on the financial condition, operating results or assets of the Company. The Company possesses all requisite corporate power
and authority necessary to carry out the transactions contemplated by this Agreement.

 

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

 

2.2.3.        
Title to Securities. Upon issuance in accordance with, and payment pursuant to, the
terms hereof and the Charter, the Securities will be duly and validly issued, fully paid and nonassessable. Upon issuance in accordance
with, and payment pursuant to, the terms hereof and the Charter, 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 (a) transfer restrictions hereunder and under the
other agreements to which the Securities may be subject (of which the Company has notified the Subscriber in writing), (b) transfer
restrictions under federal and state securities laws, and (c) liens, claims or encumbrances imposed due to the actions of the Subscriber.

 

    	3

    	 

    

 

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.        
Authorization. The shares of Class A Common Stock issuable upon conversion of the Shares
have been duly authorized and reserved for issuance upon such conversion.

 

3.                  
Forfeiture of Shares.

 

3.1.             
Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment
Option granted to the underwriters of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if
applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of
843,750 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such
forfeiture, the Subscriber (and all other initial stockholders prior to the IPO, if any) will own an aggregate number of Shares
(not including shares issuable upon the exercise of any warrants or any Common Stock purchased by Subscriber in the IPO or in the
aftermarket) equal to 20% of the issued and outstanding Common Stock immediately following the IPO.

 

3.2.             
Termination of Rights as Stockholder. If any of the Shares are forfeited in accordance
with this Section 3, then after such time the Subscriber (or successor in interest), shall no longer have any rights as a holder
of such forfeited Shares, and the Company shall take such action as is appropriate to cancel such forfeited Shares.

 

3.3.             
Share Certificates. In the event an adjustment to the Original Certificates, if any,
is required pursuant to this Section 3, then the Subscriber shall return such Original Certificates to the Company or its designated
agent as soon as practicable upon its receipt of notice from the Company advising the Subscriber of such adjustment, following
which a new certificate (the “New Certificate”), if any, shall be issued in such amount representing the adjusted
number of Shares held by the Subscriber. The New Certificate, if any, shall be returned to the Subscriber as soon as practicable.
Any such adjustment for any uncertificated securities held by the Subscriber shall be made in book-entry form.

 

4.                  
Waiver of Liquidation Distributions; Redemption Rights. In connection with the Shares
purchased pursuant to this Agreement, the Subscriber hereby waives any and all right, title, interest or claim of any kind in or
to any distributions by the Company from the trust account which will be established for the benefit of the Company’s public
stockholders and into which substantially all of the proceeds of the IPO will be deposited (the “Trust Account”),
in the event of a liquidation of the Company upon the Company’s failure to timely complete an initial business combination.
For purposes of clarity, in the event the Subscriber purchases securities in the IPO or in the aftermarket, any Class A Common
Stock so purchased shall be eligible to receive any liquidating distributions by the Company. However, in no event will the Subscriber
have the right to redeem any shares of Common Stock held by it into funds held in the Trust Account upon the successful completion
of an initial business combination.

 

5.                  
Restrictions on Transfer.

 

5.1.             
Securities Law Restrictions. In addition to any restrictions to be contained in that
certain letter agreement (commonly known as an “ Insider Letter”) dated on or prior to the closing of the IPO
by and between the Subscriber and the Company and the other parties thereto, the Subscriber 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 from counsel reasonably satisfactory to the Company, that such
registration is not required because such transaction is exempt from registration under the Securities Act and the rules promulgated
by the Securities and Exchange Commission thereunder and with all applicable state securities laws.

 

    	4

    	 

    

 

5.2.             
Lock-up. The Subscriber acknowledges that the Securities will be subject to lock-up
provisions (the “Lock-up”) contained in the Insider Letter.

 

5.3.             
Restrictive Legends. All certificates representing the Securities shall have endorsed
thereon legends substantially as follows:

 

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

 

“THE SECURITIES REPRESENTED
BY THIS CERTIFICATE ARE SUBJECT TO A LOCKUP AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE
TERM OF THE LOCKUP.”

 

5.4.             
Additional Shares or Substituted Securities. In the event of the declaration of a share
dividend, the declaration of an extraordinary dividend payable in a form other than Common Stock, a spin-off, a share split, an
adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Company’s outstanding Common Stock
without receipt of consideration, any new, substituted or additional securities or other property which are by reason of such transaction
distributed with respect to any Securities subject to this Section 5 or into which such Securities thereby become convertible shall
immediately be subject to this Section 5 and Section 3. Appropriate adjustments to reflect the distribution of such securities
or property shall be made to the number and/or class of Securities subject to this Section 5 and Section 3.

 

5.5.             
Registration Rights. The Subscriber acknowledges that the Shares are being purchased
pursuant to an exemption from the registration requirements of the Securities Act and will become freely tradable only after certain
conditions are met or they are registered pursuant to a registration rights agreement to be entered into with the Company prior
to the closing of the IPO (the “Registration Rights Agreement”).

 

6.                  
Other Agreements.

 

6.1.             
Further Assurances. 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.

 

6.2.             
Notices. All notices, statements or other documents which are required or contemplated
by this Agreement shall be: (i) in writing and delivered personally or sent by first class registered or certified mail, overnight
courier service or facsimile or electronic transmission to the address designated in writing or (ii) by electronic mail, to the
electronic mail address most recently provided to such party or such other electronic mail address as may be designated in writing
by such party. Any notice or other communication so transmitted shall be deemed to have been given on the day of delivery, if delivered
personally, on the business day following receipt of written confirmation, if sent by electronic transmission, one (1) business
day after delivery to an overnight courier service or five (5) days after mailing if sent by mail.

 

    	5

    	 

    

 

6.3.             
Entire Agreement. This Agreement, together with the Insider Letter and the Registration
Rights Agreement, each substantially in the form to be filed as an exhibit to the Registration Statement on Form S-1 associated
with the Company’s IPO, embody the entire agreement and understanding between the Subscriber and the Company with respect
to the subject matter hereof and supersedes all prior oral or written agreements and understandings relating to the subject matter
hereof. No statement, representation, warranty, covenant or agreement of any kind not expressly set forth in this Agreement shall
affect, or be used to interpret, change or restrict, the express terms and provisions of this Agreement.

 

6.4.             
Modifications and Amendments. The terms and provisions of this Agreement may be modified
or amended only by a written agreement executed by all parties hereto.

 

6.5.             
Waivers and Consents. The terms and provisions of this Agreement may be waived, or
consent for the departure therefrom granted, only by a written document executed by the party entitled to the benefits of such
terms or provisions. No such waiver or consent shall be deemed to be or shall constitute a waiver or consent with respect to any
other terms or provisions of this Agreement, whether or not similar. Each such waiver or consent shall be effective only in the
specific instance and for the purpose for which it was given, and shall not constitute a continuing waiver or consent.

 

6.6.             
Assignment. The rights and obligations under this Agreement may not be assigned by
either party hereto without the prior written consent of the other party.

 

6.7.             
Benefit. All statements, representations, warranties, covenants and agreements in this
Agreement shall be binding on the parties hereto and shall inure to the benefit of the respective successors and permitted assigns
of each party hereto. Nothing in this Agreement shall be construed to create any rights or obligations except among the parties
hereto, and no person or entity shall be regarded as a third-party beneficiary of this Agreement.

 

6.8.             
Governing Law. This Agreement and the rights and obligations of the parties hereunder
shall be construed in accordance with and governed by the laws of Delaware applicable to contracts wholly performed within the
borders of such state, without giving effect to the conflict of law principles thereof.

 

6.9.             
Severability. In the event that any court of competent jurisdiction shall determine
that any provision, or any portion thereof, contained in this Agreement shall be unreasonable or unenforceable in any respect,
then such provision shall be deemed limited to the extent that such court deems it reasonable and enforceable, and as so limited
shall remain in full force and effect. In the event that such court shall deem any such provision, or portion thereof, wholly unenforceable,
the remaining provisions of this Agreement shall nevertheless remain in full force and effect.

 

6.10.          
No Waiver of Rights, Powers and Remedies. No failure or delay by a party hereto in
exercising any right, power or remedy under this Agreement, and no course of dealing between the parties hereto, shall operate
as a waiver of any such right, power or remedy of such party. No single or partial exercise of any right, power or remedy under
this Agreement by a party hereto, nor any abandonment or discontinuance of steps to enforce any such right, power or remedy, shall
preclude such party from any other or further exercise thereof or the exercise of any other right, power or remedy hereunder. The
election of any remedy by a party hereto shall not constitute a waiver of the right of such party to pursue other available remedies.
No notice to or demand on a party not expressly required under this Agreement shall entitle the party receiving such notice or
demand to any other or further notice or demand in similar or other circumstances or constitute a waiver of the rights of the party
giving such notice or demand to any other or further action in any circumstances without such notice or demand.

 

    	6

    	 

    

 

6.11.          
Survival of Representations and Warranties. All representations and warranties made
by the parties hereto in this Agreement or in any other agreement, certificate or instrument provided for or contemplated hereby,
shall survive the execution and delivery hereof and any investigations made by or on behalf of the parties.

 

6.12.          
No Broker or Finder. Each of the parties hereto represents and warrants to the other
that no broker, finder or other financial consultant has acted on its behalf in connection with this Agreement or the transactions
contemplated hereby in such a way as to create any liability on the other. Each of the parties hereto agrees to indemnify and save
the other harmless from any claim or demand for commission or other compensation by any broker, finder, financial consultant or
similar agent claiming to have been employed by or on behalf of such party and to bear the cost of legal expenses incurred in defending
against any such claim.

 

6.13.          
Headings and Captions. The headings and captions of the various subdivisions of this
Agreement are for convenience of reference only and shall in no way modify or affect the meaning or construction of any of the
terms or provisions hereof.

 

6.14.          
Counterparts. This Agreement may be executed in one or more counterparts, all of which
when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed
by each party and delivered to the other party, it being understood that both parties need not sign the same counterpart. In the
event that any signature is delivered by facsimile transmission or any other form of electronic delivery, such signature shall
create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force
and effect as if such signature page were an original thereof.

 

6.15.          
Construction. The parties hereto have participated jointly in the negotiation and drafting
of this Agreement. If an ambiguity or question of intent or interpretation arises, this Agreement will be construed as if drafted
jointly by the parties hereto and no presumption or burden of proof will arise favoring or disfavoring any party hereto because
of the authorship of any provision of this Agreement. The words “include,” “includes,” and
“including” will be deemed to be followed by “without limitation.” Pronouns in masculine,
feminine, and neuter genders will be construed to include any other gender, and words in the singular form will be construed to
include the plural and vice versa, unless the context otherwise requires. The words “this Agreement,” “herein,”
“hereof,” “hereby,” “hereunder,” and words of similar import refer to
this Agreement as a whole and not to any particular subdivision unless expressly so limited. The parties hereto intend that each
representation, warranty, and covenant contained herein will have independent significance. If any party hereto has breached any
representation, warranty, or covenant contained herein in any respect, the fact that there exists another representation, warranty
or covenant relating to the same subject matter (regardless of the relative levels of specificity) which such party hereto has
not breached will not detract from or mitigate the fact that such party hereto is in breach of the first representation, warranty,
or covenant.

 

6.16.          
Mutual Drafting. This Agreement is the joint product of the Subscriber and the Company
and each provision hereof has been subject to the mutual consultation, negotiation and agreement of such parties and shall not
be construed for or against any party hereto.

 

7.                  
Voting and Tender of Shares. The Subscriber agrees to vote the Securities in favor
of an initial business combination that the Company negotiates and submits for approval to the Company’s stockholders and
shall not seek redemption with respect to any of the Securities. Additionally, the Subscriber agrees not to tender any Securities
in connection with a tender offer presented to the Company’s stockholders in connection with an initial business combination
negotiated by the Company.

 

8.                  
Indemnification. Each party shall indemnify the other against any loss, cost or damages
(including reasonable attorney’s fees and expenses) incurred as a result of such party’s breach of any representation,
warranty, covenant or agreement in this Agreement.

 

[Signature Page Follows]

 

    	7

    	 

    

 

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

 

	 	Very truly yours,
	 	 	 
	 	LF CAPITAL ACQUISITION CORP. II
	 	 
	 	By:	/s/ Elias Farhat 
	 	Name:	Elias Farhat
	 	Title:	President, Chief Executive Officer

 

	LEVEL FIELD CAPITAL II, LLC	 
	 	 
	By:	/s/ Elias Farhat 	 
	Name:	Elias Farhat	 
	Title:	Manager	 

 

[Signature Page to
Securities Subscription Agreement]

 

    	 

    	 

    

 

Exhibit A

  

CERTIFICATE OF AMENDMENT

TO THE CERTIFICATE OF INCORPORATION

OF

LF CAPITAL AQUISITION CORP. II

 

March 15, 2021

 

LF Capital Acquisition Corp. II (the “Corporation”),
a corporation organized and existing under and by virtue of the General Corporation Law of the State of Delaware, as amended from time
to time (the “DGCL”), does hereby certify as follows:

 

1.      
The original name of the Corporation is LF Capital Acquisition Corp. II.

 

2.      
The date on which the original Certificate of Incorporation of the Corporation was filed with the
Secretary of the State of Delaware is February 19, 2021.

 

3.      
The Board of Directors of the Corporation, acting in accordance with the provisions of Sections 141
and 242 of the General Corporation Law of the State of Delaware, adopted resolutions amending its Certificate of Incorporation.

 

4.      
Article IV of the Certificate of Incorporation of the Corporation is hereby amended and restated
in its entirety to read as follows:

 

“4.Authorized
Capital.

 

A.                
Authorized Capital Stock. 

 

(i)                 
The total number of shares of all classes of capital stock, each with a par value of $0.0001 per
share, which the Corporation is authorized to issue is 111,000,000 shares, consisting of (a) 110,000,000 shares of common stock (the “Common
Stock”), including (i) 100,000,000 shares of Class A Common Stock (the “Class A Common Stock”), and (ii) 10,000,000
shares of Class B Common Stock (the “Class B Common Stock”), and (b) 1,000,000 shares of preferred stock, par value $0.0001
per share (the “Preferred Stock”).

 

(ii)               
Upon the effective time (the “Effective Time”) of the filing of this Certificate of Amendment,
each one (1) share of the Corporation’s Common Stock that is issued and outstanding or held by the Corporation as treasury stock
immediately prior to the Effective Time (which shall include each fractional interest in Common Stock in excess of one (1) share held
by any stockholder), is and shall be subdivided and reclassified into Sixty Four Thousand Six Hundred and Eighty Seven and One-Half (64,687.50)
fully paid, nonassessable shares of Class B Common Stock (or, with respect to such fractional interests, such lesser number of shares
as may be applicable based upon such 64,687.50-to-1 ratio) (the “Forward Stock Split”). Each certificate that immediately
prior to the Effective Time represented shares of Common Stock (“Old Certificates”) shall thereafter represent that number
of shares of Class B Common Stock into which the shares of Common Stock represented by the Old Certificate shall have been subdivided
and reclassified. The authorized number of shares, and par value per share, of Class B Common Stock shall not be affected by the Forward
Stock Split.

 

B.                 
Preferred Stock.

 

(i)                 
Designation. The Preferred Stock may be issued in one or more series from time to time, with
each such series to consist of such number of shares and to have such voting powers, full or limited, or no voting powers, and such designations,
preferences and relative, participating, optional or other special rights, and the qualifications, limitations or restrictions thereof,
as shall be stated in the resolution or resolutions providing for the issuance of such series adopted by the board of directors of the
Corporation (the “Board”) and included in a certificate of designations (a “Preferred Stock Designation”) filed
pursuant to the DGCL, and the Board is hereby expressly vested with the authority, to the full extent now or hereafter provided by law,
to adopt any such resolution or resolutions.

 

     

     

    

 

(ii)               
Authorized Shares. The number of authorized shares of Preferred Stock may be increased or
decreased (but not below the number of shares thereof then outstanding) by the affirmative vote of the holders of a majority of the outstanding
shares of Common Stock, without a vote of the holders of the Preferred Stock, or any series thereof, unless a vote of any such holders
of Preferred Stock is required pursuant to another provision of this Certificate, including any Preferred Stock Designation.

 

C.                
Common Stock.

 

(i)                 
Voting.

 

(1)               
Except as otherwise required by law or this Certificate (including any Preferred Stock Designation),
the holders of the Common Stock shall exclusively possess all voting power with respect to the Corporation.

 

(2)               
The holders of shares of Common Stock shall be entitled to one vote for each such share on each matter
properly submitted to the stockholders on which the holders of the Common Stock are entitled to vote.

 

(3)               
Except as otherwise required by law or this Certificate (including any Preferred Stock Designation),
at any annual or special meeting of the stockholders of the Corporation, holders of the Class A Common Stock and holders of the Class
B Common Stock, voting together as a single class, shall have the exclusive right to vote for the election of directors and on all other
matters properly submitted to a vote of the stockholders. Notwithstanding the foregoing, except as otherwise required by law or this Certificate
(including a Preferred Stock Designation), holders of shares of any series of Common Stock shall not be entitled to vote on any amendment
to this Certificate (including any amendment to any Preferred Stock Designation) that relates solely to the terms of one or more outstanding
series of Preferred Stock or other series of Common Stock if the holders of such affected series of Preferred Stock or Common Stock, as
applicable, are entitled, either separately or together with the holders of one or more other such series, to vote thereon pursuant to
this Certificate (including any Preferred Stock Designation).

 

(ii)               
Class B Common Stock.

 

(1)               
Shares of Class B Common Stock shall be convertible into shares of Class A Common Stock on a one-for-one
basis (the “Initial Conversion Ratio”) (A) at any time and from time to time at the option of the holder thereof and (B) automatically
on the business day following the closing of the Business Combination (as defined below).

 

(2)               
Notwithstanding the Initial Conversion Ratio, in the case that additional shares of Class A Common
Stock, or equity-linked securities, are issued or deemed issued in excess of the amounts sold in the Corporation’s initial public
offering of securities and related to the closing of the Business Combination, all issued and outstanding shares of Class B Common Stock
shall automatically convert into shares of Class A Common Stock at the time of the closing of the Corporation’s initial merger,
capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses
(the “Business Combination”) at a ratio for which:

 

     

     

    

 

		●	the
                                            numerator shall be equal to the sum of (A) 25% of all shares of Class A Common Stock issued
                                            or issuable (upon the conversion or exercise of any equity-linked securities or otherwise)
                                            by the Corporation, related to or in connection with the consummation of the Business Combination
                                            (excluding any securities issued or issuable to any seller in the Business Combination) plus
                                            (B) the number of shares of Class B Common Stock issued and outstanding prior to the closing
                                            of the Business Combination; and

 

		●	the
                                            denominator shall be the number of shares of Class B Common Stock issued and outstanding
                                            prior to the closing of the Business Combination.

 

Notwithstanding anything to the contrary contained
herein, (i) the foregoing adjustment to the Initial Conversion Ratio may be waived as to any particular issuance or deemed issuance of
additional shares of Class A Common Stock or equity-linked securities by the written consent or agreement of holders of a majority of
the shares of Class B Common Stock then outstanding consenting or agreeing separately as a single class in the manner provided in Section
4.C (ii)(3), and (ii) in no event shall the Class B Common Stock convert into Class A Common Stock at a ratio that is less than one-for-one.

 

The foregoing conversion ratio shall also be
adjusted to account for any subdivision (by stock split, subdivision, exchange, stock dividend, reclassification, recapitalization or
otherwise) or combination (by reverse stock split, exchange, reclassification, recapitalization or otherwise) or similar reclassification
or recapitalization of the outstanding shares of Class A Common Stock into a greater or lesser number of shares occurring after the original
filing of this Certificate without a proportionate and corresponding subdivision, combination or similar reclassification or recapitalization
of the outstanding shares of Class B Common Stock.

 

Each share of Class B Common Stock shall convert
into its pro rata number of shares of Class A Common Stock pursuant to this Section 4.C (ii). The pro rata share
for each holder of Class B Common Stock will be determined as follows: Each share of Class B Common Stock shall convert into such number
of shares of Class A Common Stock as is equal to the product of 1 multiplied by a fraction, the numerator of which shall be the total
number of shares of Class A Common Stock into which all of the issued and outstanding shares of Class B Common Stock shall be converted
pursuant to this Section 4.C (ii) and the denominator of which shall be the total number of issued and outstanding shares of Class
B Common Stock at the time of conversion.

 

     

     

    

 

(3)               
Voting. For so long as any shares of Class B Common Stock shall remain outstanding, the Corporation
shall not, without the prior vote or written consent of the holders of a majority of the shares of Class B Common Stock then outstanding,
voting separately as a single class, amend, alter or repeal any provision of this Certificate, whether by merger, consolidation or otherwise,
if such amendment, alteration or repeal would alter or change the powers, preferences or relative, participating, optional or other or
special rights of the Class B Common Stock. Any action required or permitted to be taken at any meeting of the holders of Class B Common
Stock may be taken without a meeting, without prior notice and without a vote, if a consent or consents in writing, setting forth the
action so taken, shall be signed by the holders of the outstanding Class B Common Stock having not less than the minimum number of votes
that would be necessary to authorize or take such action at a meeting at which all shares of Class B Common Stock were present and voted
and shall be delivered to the Corporation by delivery to its registered office in the State of Delaware, its principal place of business,
or an officer or agent of the Corporation having custody of the book in which minutes of proceedings of stockholders are recorded. Delivery
made to the Corporation’s registered office shall be by hand or by certified or registered mail, return receipt requested. Prompt
written notice of the taking of corporate action without a meeting by less than unanimous written consent of the holders of Class B Common
Stock shall, to the extent required by law, be given to those holders of Class B Common Stock who have not consented in writing and who,
if the action had been taken at a meeting, would have been entitled to notice of the meeting if the record date for notice of such meeting
had been the date that written consents signed by a sufficient number of holders of Class B Common Stock to take the action were delivered
to the Corporation.

 

(iii)             
Dividends. Subject to the rights of the holders of Preferred Stock, the holders of shares
of Common Stock shall be entitled to receive such dividends and other distributions (payable in cash, property or capital stock of the
Corporation) when, as and if declared thereon by the Board from time to time out of any assets or funds of the Corporation legally available
therefor and shall share equally on a per share basis in such dividends and distributions subject to such rights of the holders of Preferred
Stock.

 

(iv)              
Liquidation, Dissolution or Winding Up of the Corporation. In the event of any voluntary or
involuntary liquidation, dissolution or winding up of the Corporation, after payment or provision for payment of the debts and other liabilities
of the Corporation, and subject to the rights of the holders of Preferred Stock in respect thereof, the holders of shares of Common Stock
shall be entitled to receive all the remaining assets of the Corporation available for distribution to its stockholders, ratably in proportion
to the number of shares of Class A Common Stock (on an as converted basis with respect to the Class B Common Stock) held by them.”

 

5.      
This Certificate of Amendment shall become effective on the date of filing with the Secretary of
State of the State of Delaware.

 

     

     

    

 

IN WITNESS WHEREOF, the undersigned
has executed this Certificate of Amendment of the Certificate of Incorporation of the Corporation as of the date first written above.

 

	 	By:	 
	 	Name:	Scott Reed
	 	Title:	President, Chief Executive Officer

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