Document:

EX-4.4

 Exhibit 4.4 

WARRANT AGREEMENT 

between 
 LIVE OAK
CRESTVIEW CLIMATE ACQUISITION CORP. 
 and 

CONTINENTAL STOCK TRANSFER & TRUST COMPANY 

THIS WARRANT AGREEMENT (this “Agreement”), dated as of [_____], 2021, is by and between Live Oak Crestview Climate
Acquisition Corp., a Delaware corporation (the “Company”), and Continental Stock Transfer & Trust Company, a New York corporation, as warrant agent (the “Warrant Agent”, also referred to
herein as the “Transfer Agent”). 
 WHEREAS, on [_____], 2021, the Company entered into that certain Private
Placement Warrants Purchase Agreement with LOCC Sponsor, LLC, a Delaware limited liability company (the “Sponsor”), pursuant to which the Sponsor agreed to purchase an aggregate of 5,500,000 warrants (or up to 6,000,000
warrants if the Over-allotment Option (as defined below) in connection with the Offering (as defined below) is exercised in full) simultaneously with the closing of the Offering (and the closing of the Over-allotment Option, if applicable) bearing
the legend set forth in Exhibit B hereto (the “Private Placement Warrants”) at a purchase price of $1.50 per Private Placement Warrant (as defined below); and 

WHEREAS, in order to finance the Company’s transaction costs in connection with an intended initial Business Combination (as defined
below), the Sponsor or an affiliate of the Sponsor or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as the Company may require, of which up to $1,500,000 of such loans may be convertible
into up to an additional 1,000,000 Private Placement Warrants at a price of $1.50 per warrant (the “Working Capital Warrants”); and 

WHEREAS, the Company is engaged in an initial public offering (the “Offering”) of units of the Company’s equity
securities, each such unit comprised of one share of Common Stock (as defined below) and one-fourth of one Public Warrant (as defined below) (the “Units”) and, in connection therewith,
has determined to issue and deliver up to 6,250,000 warrants (or up to 7,187,500 warrants to the extent the Over-allotment Option (as defined below) is exercised) to public investors in the Offering (the “Public Warrants”).
Each whole Warrant entitles the holder thereof to purchase one share of Class A common stock of the Company, par value $0.0001 per share (“Common Stock”), for $11.50 per share, subject to adjustment as described herein.
Only whole warrants are exercisable; and 
 WHEREAS, the Company has filed with the U.S. Securities and Exchange Commission (the
“Commission”) a registration statement on Form S-1, File No. 333-253895 (the “Registration Statement”) and
prospectus (the “Prospectus”), for the registration, under the Securities Act of 1933, as amended (the “Securities Act”), of the Units, and the Public Warrants and the Common Stock included in the
Units; and 

 WHEREAS, following consummation of the Offering, the Company may issue additional warrants
(“Post-IPO Warrants” and, together with the Private Placement Warrants, the Working Capital Warrants and the Public Warrants, the “Warrants”) in connection with,
or following the consummation by the Company of, a Business Combination; and 
 WHEREAS, the Company desires the Warrant Agent to act on
behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance, registration, transfer, exchange, redemption and exercise of the Warrants; and 

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

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

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

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

2. Warrants. 
 2.1
Form of Warrant. Each Warrant shall be issued in registered form only. 
 2.2 Effect of Countersignature. If a physical
certificate is issued, unless and until countersigned by the Warrant Agent pursuant to this Agreement, a Warrant represented by such physical certificate shall be invalid and of no effect and may not be exercised by the holder thereof. 

2.3 Registration. 

2.3.1 Warrant Register. The Warrant Agent shall maintain books (the “Warrant Register”), for the registration
of original issuance and the registration of transfer of the Warrants. Upon the initial issuance of the Warrants in book entry form, the Warrant Agent shall issue and register the Warrants in the names of the respective holders thereof in such
denominations and otherwise in accordance with instructions delivered to the Warrant Agent by the Company. Ownership of beneficial interests in the Public Warrants shall be shown on, and the transfer of such ownership shall be effected through,
records maintained by institutions that have accounts with the Depository Trust Company (the “Depositary”) (such institution, with respect to a Warrant in its account, a “Participant”). 

  
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 If the Depositary subsequently ceases to make its book-entry settlement system available for
the Public Warrants, the Company may instruct the Warrant Agent regarding making other arrangements for book-entry settlement. In the event that the Public Warrants are not eligible for, or it is no longer necessary to have the Public Warrants
available in, book-entry form, the Warrant Agent shall provide written instructions to the Depositary to deliver to the Warrant Agent for cancellation each book-entry Public Warrant, and the Company shall instruct the Warrant Agent to deliver to the
Depositary definitive certificates in physical form evidencing such Warrants which shall be in the form annexed hereto as Exhibit A. 

Physical certificates, if issued, shall be signed by, or bear the facsimile signature of, the Chairman of the Board of Directors of the
Company, Chief Executive Officer, Chief Financial Officer, Secretary or other principal officer of the Company. In the event the person whose facsimile signature has been placed upon any Warrant shall have ceased to serve in the capacity in which
such person signed the Warrant before such Warrant is issued, it may be issued with the same effect as if he or she had not ceased to be such at the date of issuance. 

2.3.2 Registered Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent may
deem and treat the person in whose name such Warrant is registered in the Warrant Register (the “Registered Holder”) as the absolute owner of such Warrant and of each Warrant represented thereby (notwithstanding any notation
of ownership or other writing on any physical certificate made by anyone other than the Company or the Warrant Agent), for the purpose of any exercise thereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be
affected by any notice to the contrary. 
 2.4 Detachability of Warrants. The Common Stock and Public Warrants comprising the Units
shall begin separate trading on the 52nd day following the date of the Prospectus or, if such 52nd day is not on a day, other than a Saturday, Sunday or federal holiday, on which banks in New York City are generally open for normal business (a
“Business Day”), then on the immediately succeeding Business Day following such date, or earlier (the “Detachment Date”) with the consent of Jefferies LLC and BofA Securities, Inc., as representatives
of the several underwriters, but in no event shall the Common Stock and the Public Warrants comprising the Units be separately traded until (a) the Company has filed a current report on Form 8-K with
the Commission containing an audited balance sheet reflecting the receipt by the Company of the gross proceeds of the Offering, including the proceeds received by the Company from the exercise by the underwriters of their right to purchase
additional Units in the Offering (the “Over-allotment Option”), if the Over-allotment Option is exercised prior to the filing of the Form 8-K, and (b) the Company issues a press
release and files with the Commission a current report on Form 8-K announcing when such separate trading shall begin. 

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

  
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 2.6 Private Placement Warrants and Working Capital Warrants. The Private Placement
Warrants and the Working Capital Warrants shall be identical to the Public Warrants, except that so long as they are held by the Sponsor or any Permitted Transferees (as defined below), as applicable, the Private Placement Warrants and the Working
Capital Warrants: (i) may be exercised for cash or on a cashless basis, pursuant to subsection 3.3.1(c) hereof, (ii) may not be transferred, assigned or sold until thirty (30) days after the completion by the
Company of an initial Business Combination (as defined below), and (iii) shall not be redeemable by the Company (except as set forth in Section 6.2 herein); provided, however, that in the case of (ii),
the Private Placement Warrants, the Working Capital Warrants and any shares of Common Stock issued upon exercise of the Private Placement Warrants or the Working Capital Warrants and held by the Sponsor or any Permitted Transferees, may be
transferred by the holders thereof: 
  

	 	(a)	 to the Company’s officers or directors, any affiliates or family members of any of the Company’s
officers or directors, any affiliate of the Sponsor or any member(s) of the Sponsor; 

  

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

  

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

  

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

 

	 	(e)	 by private sales or transfers made in connection with the consummation of the Company’s initial Business
Combination at prices no greater than the price at which the Warrants were originally purchased; 

  

	 	(f)	 in the event of the Company’s liquidation prior to the completion of the Company’s initial Business
Combination; 

  

	 	(g)	 by virtue of the laws of the State of Delaware or the Sponsor’s limited liability company agreement upon
dissolution of the Sponsor; or 

  

	 	(h)	 in the event that, subsequent to the consummation of a Business Combination, the Company completes a
liquidation, merger, capital stock exchange or other similar transaction which results in all of the Company’s stockholders having the right to exchange their Common Stock for cash, securities or other property; 

provided, however, that, in the case of clauses (a) through (e) or (g), these transferees (the “Permitted
Transferees”) must enter into a written agreement agreeing to be bound by the transfer restrictions in this Agreement and the other restrictions contained in the letter agreement, dated as

  
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of the date hereof, by and among the Company, the Sponsor and the Company’s directors and officers and by the same agreements entered into by the Sponsor with respect to such securities
(including provisions relating to voting, the trust account and liquidation distributions described elsewhere in the Prospectus). 
 2.7
Working Capital Warrants. The Working Capital Warrants shall be identical to the Private Placement Warrants. 
 2.8 Post-IPO Warrants. The Post-IPO Warrants, when and if issued, shall have the same terms and be in the same form as the Public Warrants except as may be agreed upon by the
Company. 
 3. Terms and Exercise of Warrants. 

3.1 Warrant Price. Each Warrant shall, when countersigned by the Warrant Agent (if a physical certificate is issued), entitle the
Registered Holder thereof, subject to the provisions of such Warrant and of this Agreement, to purchase from the Company the number of shares of Common Stock stated therein, at the price of $11.50 per share, subject to the adjustments provided in
Section 4 hereof and in the last sentence of this Section 3.1. The term “Warrant Price” as used in this Agreement shall mean the price per share at which shares of Common
Stock may be purchased at the time a Warrant is exercised. The Company in its sole discretion may lower the Warrant Price at any time prior to the Expiration Date (as defined below) for a period of not less than twenty (20) Business Days,
provided, that the Company shall provide at least twenty (20) days prior written notice of such reduction to Registered Holders of the Warrants and, provided further that any such reduction shall be identical among all of
the Warrants. 
 3.2 Duration of Warrants. A Warrant may be exercised only during the period (the “Exercise
Period”) commencing on the later of: (a) the date that is thirty (30) days after the first date on which the Company completes a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar
business combination, involving the Company and one or more businesses (a “Business Combination”), and (b) the date that is twelve (12) months from the date of the closing of the Offering, and terminating at 5:00
p.m., New York City time on the earlier to occur of: (x) the date that is five (5) years after the date on which the Company completes its Business Combination, (y) the liquidation of the Company in accordance with the Company’s
amended and restated certificate of incorporation (the “Charter”), as amended from time to time, if the Company fails to complete a Business Combination or (z) other than with respect to the Private Placement Warrants
and the Working Capital Warrants then held by the Sponsor or any officers or directors of the Company, or any of their Permitted Transferees as provided in Section 6.1 (or in certain circumstances in
Section 6.2), the Redemption Date (as defined below) as provided in Section 6.3 hereof (the “Expiration Date”); provided, however, that the exercise of any
Warrant shall be subject to the satisfaction of any applicable conditions, as set forth in subsection 3.3.2 below with respect to an effective registration statement. Except with respect to the right to receive the
Redemption Price (as defined below), in the event of a redemption (as set forth in Section 6 hereof), each outstanding Warrant (other than a Private Placement Warrant or a Working Capital Warrant held by the Sponsor, or any
officers or directors of the Company, or their Permitted Transferees) not exercised on or before the Expiration Date shall become void, and all rights thereunder and all rights in respect thereof under this Agreement shall cease at 5:00 p.m.

  
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New York City time on the Expiration Date. The Company in its sole discretion may extend the duration of the Warrants by delaying the Expiration Date; provided, that the Company shall
provide at least twenty (20) days prior written notice of any such extension to Registered Holders of the Warrants and, provided further that any such extension shall be identical in duration among all the Warrants. 

3.3 Exercise of Warrants. 

3.3.1 Payment. Subject to the provisions of the Warrant and this Agreement, a Warrant, when countersigned by the Warrant Agent (if a
physical certificate is issued), may be exercised by the Registered Holder thereof by surrendering it, at the office of the Warrant Agent, or at the office of its successor as Warrant Agent, in the Borough of Manhattan, City and State of New York,
with the subscription form, as set forth in the Warrant, duly executed, and by paying in full the Warrant Price for each full share of Common Stock as to which the Warrant is exercised and any and all applicable taxes due in connection with the
exercise of the Warrant, the exchange of the Warrant for the shares of Common Stock and the issuance of such shares of Common Stock, as follows: 
  

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

  

	 	(b)	 [Reserved]; 

  

	 	(c)	 with respect to any Private Placement Warrant or Working Capital Warrant, so long as such Private Placement
Warrant or Working Capital Warrant is held by the Sponsor or any officer or director of the Company, or their Permitted Transferees, by surrendering the Warrants for that number of shares of Common Stock equal to (i) if in connection with a
redemption of Private Placement Warrants or Working Capital Warrants pursuant to Section 6.2 hereof, as provided in Section 6.2 hereof with respect to a Make-Whole Exercise (as defined below) and
(ii) in all other scenarios, the quotient obtained by dividing (x) the product of the number of shares of Common Stock underlying the Warrants, multiplied by the excess of the “Sponsor Exercise Fair Market Value”, as defined in
this subsection 3.3.1(c), over the Warrant Price by (y) the Sponsor Exercise Fair Market Value. Solely for purposes of this subsection 3.3.1(c), the “Sponsor Exercise Fair Market
Value” shall mean the average reported closing price of the Common Stock for the ten (10) trading days ending on the third trading day prior to the date on which notice of exercise of the Private Placement Warrant or Working
Capital Warrant is sent to the Warrant Agent; or 

  

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

  
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	 	(e)	 as provided in Section 7.4 hereof. 

3.3.2 Issuance of Shares of Common Stock on Exercise. As soon as practicable after the exercise of any Warrant and the clearance of
the funds in payment of the Warrant Price (if payment is pursuant to subsection 3.3.1(a)), the Company shall issue to the Registered Holder of such Warrant a book-entry position or certificate, as applicable, for the number
of full shares of Common Stock to which he, she or it is entitled, registered in such name or names as may be directed by him, her or it, and if such Warrant shall not have been exercised in full, a new book-entry position or countersigned Warrant,
as applicable, for the number of shares of Common Stock as to which such Warrant shall not have been exercised. If fewer than all the Warrants evidenced by a book-entry position are exercised, a notation shall be made to the records maintained by
the Depositary, its nominee for each such book-entry position, or a Participant, as appropriate, evidencing the balance of the Warrants remaining after such exercise. Notwithstanding the foregoing, the Company shall not be obligated to deliver any
shares of Common Stock pursuant to the exercise of a Warrant and shall have no obligation to settle such Warrant exercise unless a registration statement under the Securities Act with respect to the shares of Common Stock underlying the Public
Warrants is then effective and a prospectus relating thereto is current, subject to the Company’s satisfying its obligations under Section 7.4. No Warrant shall be exercisable and the Company shall not be obligated to
issue shares of Common Stock upon exercise of a Warrant unless the Common Stock issuable upon such Warrant exercise has been registered, qualified or deemed to be exempt from registration or qualification under the securities laws of the state of
residence of the Registered Holder of the Warrants. In the event that the conditions in the two immediately preceding sentences are not satisfied with respect to a Warrant, the holder of such Warrant shall not be entitled to exercise such Warrant
and such Warrant may have no value and expire worthless, in which case the purchaser of a Unit containing such Public Warrants shall have paid the full purchase price for the Unit solely for the shares of Common Stock underlying such Unit. In no
event will the Company be required to net cash settle the Warrant exercise. Subject to Section 4.6 of this Agreement, a Registered Holder of Warrants may exercise its Warrants only for a whole number of Common Stock. The
Company may require holders of Public Warrants to settle the Warrant on a “cashless basis” pursuant to Section 7.4. If, by reason of any exercise of Warrants on a “cashless basis”, the holder of any
Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share of Common Stock, the Company shall round down to the nearest whole number, the number of shares of Common Stock to be issued to such holder.

 3.3.3 Valid Issuance. All shares of Common Stock issued upon the proper exercise of a Warrant in conformity with this Agreement
shall be validly issued, fully paid and non-assessable. 
 3.3.4 Date of Issuance. Each
person in whose name any book-entry position or certificate, as applicable, for shares of Common Stock is issued shall for all purposes be deemed to have become the holder of record of such shares of Common Stock on the date on which the Warrant, or
book-entry position representing such Warrant, was surrendered and payment of the Warrant Price was made, irrespective of the date of delivery of such certificate in the case of a certificated Warrant, except that, if the date of such surrender and
payment is a date when the share transfer books of the Company or book-entry system of the Warrant Agent are closed, such person shall be deemed to have become the holder of such shares of Common Stock at the close of business on the next succeeding
date on which the share transfer books or book-entry system are open. 

  
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 3.3.5 Maximum Percentage. A holder of a Warrant may notify the Company in writing in
the event it elects to be subject to the provisions contained in this subsection 3.3.5; however, no holder of a Warrant shall be subject to this subsection 3.3.5 unless he, she or it makes such
election. If the election is made by a holder, the Warrant Agent shall not effect the exercise of the holder’s Warrant, and such holder shall not have the right to exercise such Warrant, to the extent that after giving effect to such exercise,
such person and any of its affiliates or any other person subject to aggregation with such person (together with such person’s affiliates), to the Warrant Agent’s actual knowledge, would beneficially own in excess of 4.9% or 9.8% (or such
other amount as a holder may specify) (the “Maximum Percentage”) of the shares of Common Stock outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number of
shares of Common Stock beneficially owned by such person and its affiliates shall include the number of shares of Common Stock issuable upon exercise of the Warrant with respect to which the determination of such sentence is being made, but shall
exclude shares of Common Stock that would be issuable upon (x) exercise of the remaining, unexercised portion of the Warrant beneficially owned by such person and its affiliates and (y) exercise or conversion of the unexercised or
unconverted portion of any other securities of the Company beneficially owned by such person and its affiliates (including, without limitation, any convertible notes or convertible preferred stock or warrants) subject to a limitation on conversion
or exercise analogous to the limitation contained herein. Except as set forth in the preceding sentence, for purposes of this paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of
1934, as amended (the “Exchange Act”). For purposes of the Warrant, in determining the number of outstanding shares of Common Stock, the holder may rely on the number of outstanding shares of Common Stock as reflected in
(a) the Company’s most recent annual report on Form 10-K, quarterly report on Form 10-Q, current report on Form 8-K or
other public filing with the Commission as the case may be, (b) a more recent public announcement by the Company or (c) any other notice by the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding.
For any reason at any time, upon the written request of the holder of the Warrant, the Company shall, within two (2) Business Days, confirm orally and in writing to such holder the number of shares of Common Stock then outstanding. In any case,
the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of equity securities of the Company by the holder and its affiliates since the date as of which such number of outstanding shares
of Common Stock was reported. By written notice to the Company, the holder of a Warrant may from time to time increase or decrease the Maximum Percentage applicable to such holder to any other percentage specified in such notice; provided,
however, that any such increase shall not be effective until the sixty-first (61st) day after such notice is delivered to the Company. 

4. Adjustments. 
 4.1
Stock Dividends. 
 4.1.1 Split-Ups. If after the date hereof, and subject to the
provisions of Section 4.6 below, the number of outstanding shares of Common Stock is increased by a stock dividend payable in shares of Common Stock, or by a split-up of shares of
Common Stock or other 

  
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similar event, then, on the effective date of such stock dividend, split-up or similar event, the number of shares of Common Stock issuable on exercise of
each Warrant shall be increased in proportion to such increase in the outstanding shares of Common Stock. A rights offering to holders of the Common Stock entitling holders to purchase shares of Common Stock at a price less than the “Fair
Market Value” (as defined below) shall be deemed a stock dividend of a number of shares of Common Stock equal to the product of (a) the number of shares of Common Stock actually sold in such rights offering (or issuable under any other
equity securities sold in such rights offering that are convertible into or exercisable for the Common Stock) and (b) one (1) minus the quotient of (x) the price per share of Common Stock paid in such rights offering divided by
(y) the Fair Market Value. For purposes of this subsection 4.1.1, (i) if the rights offering is for securities convertible into or exercisable for Common Stock, in determining the price payable for Common Stock,
there shall be taken into account any consideration received for such rights, as well as any additional amount payable upon exercise or conversion and (ii) “Fair Market Value” means the volume weighted average price of
the Common Stock as reported during the ten (10) trading day period ending on the trading day prior to the first date on which the shares of Common Stock trade on the applicable exchange or in the applicable market, regular way, without the
right to receive such rights. 
 4.1.2 Extraordinary Dividends. If the Company, at any time while the Warrants are outstanding and
unexpired, shall pay a dividend or make a distribution in cash, securities or other assets to the holders of the Common Stock on account of such shares of Common Stock (or other shares of the Company’s capital stock into which the Warrants are
convertible), other than (a) as described in subsection 4.1.1 above, (b) Ordinary Cash Dividends (as defined below), (c) to satisfy the redemption rights of the holders of the Common Stock in connection with
a proposed initial Business Combination, (d) to satisfy the redemption rights of the holders of Common Stock in connection with a stockholder vote to amend the Company’s Charter (i) to modify the substance or timing of the
Company’s obligation to provide for the redemption of its public shares of Common Stock in connection with an initial Business Combination or to redeem 100% of such shares if the Company has not consummated an initial Business Combination
within such time as is described in the Charter or (ii) with respect to any other material provisions relating to stockholders’ rights or pre-initial Business Combination activity, or, (e) in
connection with the redemption of the shares of Common Stock included in the Units sold in the Offering upon the failure of the Company to complete its initial Business Combination and any subsequent distribution of its assets upon its liquidation
(any such non-excluded event being referred to herein as an “Extraordinary Dividend”), then the Warrant Price shall be decreased, effective immediately after the effective date of such
Extraordinary Dividend, by the amount of cash and/or the fair market value (as determined by the Board of Directors of the Company, in good faith) of any securities or other assets paid on each share of Common Stock in respect of such Extraordinary
Dividend. For purposes of this subsection 4.1.2, “Ordinary Cash Dividends” means any cash dividend or cash distribution which, when combined on a per share basis, with the per share amounts of all
other cash dividends and cash distributions paid on the Common Stock during the 365-day period ending on the date of declaration of such dividend or distribution (as adjusted to appropriately reflect any of
the events referred to in other subsections of this Section 4 and excluding cash dividends or cash distributions that resulted in an adjustment to the Warrant Price or to the number of shares of Common Stock issuable on
exercise of each Warrant) does not exceed $0.50 (being 5% of the offering price of the Units in the Offering). 

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

4.3.1 Whenever the number of shares of Common Stock purchasable upon the exercise of the Warrants is adjusted, as provided in
subsection 4.1.1 or Section 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price immediately prior to such adjustment by a fraction (x) the
numerator of which shall be the number of shares of Common Stock purchasable upon the exercise of the Warrants immediately prior to such adjustment, and (y) the denominator of which shall be the number of shares of Common Stock so purchasable
immediately thereafter. 
 4.3.2 If the Company issues additional shares of Common Stock or equity-linked securities for capital raising
purposes in connection with the closing of its initial Business Combination at an issue price or effective issue price of less than $9.20 per share (as adjusted for stock splits, stock dividends, rights issuances, subdivisions, reorganizations,
recapitalizations and the like) of Common Stock, with such issue price or effective issue price to be determined in good faith by the Board of Directors of the Company (and in the case of any such issuance to the initial stockholders (as defined in
the Prospectus) or their affiliates, without taking into account any Founder Shares (as defined below) held by such stockholders or their affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the
aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of the Company’s initial business combination on the date of the consummation of the
Company’s initial Business Combination (net of redemptions), and (z) the volume weighted average trading price of the Common Stock during the 20 trading day period starting on the trading day prior to the day on which the Company
consummates its initial Business Combination (such price, the “Market Value”) is below $9.20 per share (as adjusted for stock splits, stock dividends, rights issuances, subdivisions, reorganizations, recapitalizations and the
like), then the Warrant Price shall be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price and the $18.00 Redemption Trigger Price described in Section 6.1 shall
be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price and the $10.00 Redemption Trigger Price described in Section 6.2 shall be adjusted (to the nearest cent) to
be equal to the higher of the Market Value and the Newly Issued Price. 
 4.4 Replacement of Securities upon Reorganization, etc. In
case of any reclassification or reorganization of the outstanding shares of Common Stock (other than a change under subsections 4.1.1 or 4.1.2 or Section 4.2 hereof or that solely affects the par value of such shares of Common Stock), or
in the case of any merger or consolidation of the Company with or into another entity or conversion of the Company as another entity (other than a consolidation or merger in which the Company is the continuing corporation (and is not a subsidiary of
another 

  
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entity whose stockholders did not own all or substantially all of the Common Stock of the Company in substantially the same proportions immediately before such transaction) and that does not
result in any reclassification or reorganization of the outstanding shares of Common Stock), or in the case of any sale or conveyance to another corporation or entity of the assets or other property of the Company as an entirety or substantially as
an entirety in connection with which the Company is dissolved, the holders of the Warrants shall thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the Warrants and in lieu of the shares
of Common Stock of the Company immediately theretofore purchasable and receivable upon the exercise of the rights represented thereby, the kind and amount of shares of stock or other securities or property (including cash) receivable upon such
reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the holder of the Warrants would have received if such holder had exercised his, her or its Warrant(s) immediately prior to
such event (the “Alternative Issuance”); provided, however, that (a) if the holders of the Common Stock were entitled to exercise a right of election as to the kind or amount of securities, cash or other
assets receivable upon such consolidation or merger, then the kind and amount of securities, cash or other assets constituting the Alternative Issuance for which each Warrant shall become exercisable shall be deemed to be the weighted average of the
kind and amount received per share by the holders of the Common Stock in such consolidation or merger that affirmatively make such election, and (b) if a tender, exchange or redemption offer shall have been made to and accepted by the holders
of the Common Stock (other than a tender, exchange or redemption offer made by the Company in connection with redemption rights held by stockholders of the Company as provided for in the Charter or as a result of the repurchase of shares of Common
Stock by the Company if a proposed initial Business Combination is presented to the stockholders of the Company for approval) under circumstances in which, upon completion of such tender or exchange offer, the maker thereof, together with members of
any group (within the meaning of Rule 13d-5(b)(1) under the Exchange Act (or any successor rule)) of which such maker is a part, and together with any affiliate or associate of such maker (within the meaning
of Rule 12b-2 under the Exchange Act (or any successor rule)) and any members of any such group of which any such affiliate or associate is a part, own beneficially (within the meaning of Rule 13d-3 under the Exchange Act (or any successor rule)) more than 50% of the outstanding shares of Common Stock, the holder of a Warrant shall be entitled to receive as the Alternative Issuance, the highest amount of
cash, securities or other property to which such holder would actually have been entitled as a stockholder if such Warrant holder had exercised the Warrant prior to the expiration of such tender or exchange offer, accepted such offer and all of the
Common Stock held by such holder had been purchased pursuant to such tender or exchange offer, subject to adjustments (from and after the consummation of such tender or exchange offer) as nearly equivalent as possible to the adjustments provided for
in this Section 4; provided, further, that if less than 70% of the consideration receivable by the holders of the Common Stock in the applicable event is payable in the form of common stock in the successor entity that is listed
for trading on a national securities exchange or is quoted in an established over-the-counter market, or is to be so listed for trading or quoted immediately following
such event, and if the Registered Holder properly exercises the Warrant within thirty (30) days following the public disclosure of the consummation of such applicable event by the Company pursuant to a Current Report on Form 8-K filed with the Commission, the Warrant Price shall be reduced by an amount (in dollars) equal to the difference (but in no event less than zero) of (i) the Warrant Price in effect prior to such reduction
minus (ii) (A) the Per Share Consideration (as defined below) minus (B) the Black-Scholes Warrant Value (as defined below). 

  
 11 

 
The “Black-Scholes Warrant Value” means the value of a Warrant immediately prior to the consummation of the applicable event based on the Black-Scholes Warrant Model for a
Capped American Call on Bloomberg Financial Markets (“Bloomberg”). For purposes of calculating such amount, (1) Section 6 of this Agreement shall be taken into account, (2) the price of each share of Common
Stock shall be the volume weighted average price of the Common Stock as reported during the ten (10) trading day period ending on the trading day prior to the effective date of the applicable event, (3) the assumed volatility shall be the
90 day volatility obtained from the HVT function on Bloomberg determined as of the trading day immediately prior to the day of the announcement of the applicable event, and (4) the assumed risk-free interest rate shall correspond to the U.S.
Treasury rate for a period equal to the remaining term of the Warrant. “Per Share Consideration” means (I) if the consideration paid to holders of the Common Stock consists exclusively of cash, the amount of such cash
per share of Common Stock, and (II) in all other cases, the volume weighted average price of the Common Stock as reported during the ten (10) trading day period ending on the trading day prior to the effective date of the applicable event.
If any reclassification or reorganization also results in a change in shares of Common Stock covered by subsection 4.1.1, then such adjustment shall be made pursuant to subsection 4.1.1 or Sections 4.2, 4.3 and this Section 4.4.
The provisions of this Section 4.4 shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers. In no event will the Warrant Price be reduced to less than the par value per share
issuable upon exercise of the Warrant. 
 4.5 Notices of Changes in Warrant. Upon every adjustment of the Warrant Price or the number
of shares of Common Stock issuable upon exercise of a Warrant, the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting from such adjustment and the increase or decrease, if any, in the
number of shares of Common Stock purchasable at such price upon the exercise of a Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon the occurrence of any event specified in
Sections 4.1, 4.2, 4.3 or 4.4, the Company shall give written notice of the occurrence of such event to each holder of a Warrant, at the last address set forth for such holder in the Warrant Register,
of the record date or the effective date of the event. Failure to give such notice, or any defect therein, shall not affect the legality or validity of such event. 

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

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

  
 12 

 4.8 Other Events. In case any event shall occur affecting the Company as to which
none of the provisions of the preceding subsections of this Section 4 are strictly applicable, but which would require an adjustment to the terms of the Warrants in order to (a) avoid an adverse impact on the Warrants
and (b) effectuate the intent and purpose of this Section 4, then, in each such case, the Company shall appoint a firm of independent public accountants, investment banking or other appraisal firm of recognized
national standing, which shall give its opinion as to whether or not any adjustment to the rights represented by the Warrants is necessary to effectuate the intent and purpose of this Section 4 and, if they determine that
an adjustment is necessary, the terms of such adjustment; provided, however, that under no circumstances shall the Warrants be adjusted pursuant to this Section 4.8 (i) as a result of any issuance of
securities in connection with a Business Combination or (ii) solely as a result of an adjustment to the conversion ratio of the Company’s Class B common stock, $0.0001 par value per share (the “Founder
Shares”), into Common Stock. The Company shall adjust the terms of the Warrants in a manner that is consistent with any adjustment recommended in such opinion. 

5. Transfer and Exchange of Warrants. 

5.1 Registration of Transfer. The Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant upon the
Warrant Register, upon surrender of such Warrant for transfer, in the case of certificated Warrant, properly endorsed with signatures properly guaranteed and accompanied by appropriate instructions for transfer. Upon any such transfer, a new Warrant
representing an equal aggregate number of Warrants shall be issued and the old Warrant shall be cancelled by the Warrant Agent. In the case of certificated Warrants, the Warrants so cancelled shall be delivered by the Warrant Agent to the Company
from time to time upon request. 
 5.2 Procedure for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent,
together with a written request for exchange or transfer, and thereupon the Warrant Agent shall issue in exchange therefor one or more new Warrants as requested by the Registered Holder of the Warrants so surrendered, representing an equal aggregate
number of Warrants; provided, however, that in the event that a Warrant surrendered for transfer bears a restrictive legend (as in the case of the Private Placement Warrants and Working Capital Warrants), the Warrant Agent shall not
cancel such Warrant and issue new Warrants in exchange thereof until the Warrant Agent has received an opinion of counsel for the Company stating that such transfer may be made and indicating whether the new Warrants must also bear a restrictive
legend. 
 5.3 Fractional Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which
shall result in the issuance of a warrant certificate or book-entry position for a fraction of a warrant, except as part of the Units. 

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

  
 13 

 5.5 Warrant Execution and Countersignature. If a physical certificate is issued, the
Warrant Agent is hereby authorized to countersign and to deliver, in accordance with the terms of this Agreement, the Warrants required to be issued, pursuant to the provisions of this Section 5, and the Company, whenever
required by the Warrant Agent, shall supply the Warrant Agent with Warrants duly executed on behalf of the Company for such purpose. 
 5.6
Transfer of Warrants. Prior to the Detachment Date, the Public Warrants may be transferred or exchanged only together with the Unit in which such Warrant is included, and only for the purpose of effecting, or in conjunction with, a transfer
or exchange of such Unit. Furthermore, each transfer of a Unit on the register relating to such Units shall operate also to transfer the Warrants included in such Unit. Notwithstanding the foregoing, the provisions of this
Section 5.6 shall have no effect on any transfer of Warrants on and after the Detachment Date. 
 6.
Redemption. 
 6.1 Redemption of Warrants for Cash. Subject to Section 6.5 hereof, not less than all
of the outstanding Warrants may be redeemed, at the option of the Company, at any time during the Exercise Period, at the office of the Warrant Agent, upon notice to the Registered Holders of the Warrants, as described in
Section 6.3 below, at the price of $0.01 per Warrant (the “Redemption Price”), provided that the reported closing price of the Common Stock has been at least $18.00 per share (subject to
adjustment in compliance with Section 4 hereof) (the “$18.00 Redemption Trigger Price”), for any twenty (20) trading days within a thirty
(30) trading-day period ending three Business Days prior to the date on which notice of the redemption is given and provided that there is an effective registration statement covering the shares of
Common Stock issuable upon exercise of the Warrants and a current prospectus relating thereto (or the Company has qualified such shares of Common Stock under applicable state blue sky laws), available throughout the
30-day Redemption Period (as defined in Section 6.3 below). 
 6.2
Redemption of Warrants for $0.10. Subject to Section 6.5 hereof, not less than all of the outstanding Warrants may be redeemed, at the option of the Company, at any time during the Exercise Period, at the office of
the Warrant Agent, upon notice to the Registered Holders of the Warrants, as described in Section 6.3 below, at a Redemption Price of $0.10 per Warrant, provided that the reported closing price of the Common Stock
has been at least $10.00 per share (subject to adjustment in compliance with Section 4 hereof) (the “$10.00 Redemption Trigger Price”) for any twenty (20) trading days within a thirty (30) trading-day period ending three Business Days prior to the date on which notice of the redemption is given and (ii) if the reported closing price of the Common Stock for any twenty (20) trading
days within a thirty (30) trading-day period ending three Business Days prior to the date on which notice of the redemption is given is less than $18.00 per share (subject to adjustment in compliance with
Section 4 hereof), the Private Placement Warrants, the Working Capital Warrants and the Post-IPO Warrants must also concurrently be called for redemption on the same terms as the
outstanding Public Warrants. During the 30-day Redemption Period in connection with a redemption pursuant to this Section 6.2, Registered Holders of the Warrants may elect to exercise
their Warrants on a “cashless basis” pursuant to subsection 3.3.1 and receive a number of shares of Common Stock determined by reference to the table below, based on the Redemption Date (calculated for purposes of
the table as the period to expiration of the Warrants) and the “Redemption Fair Market Value” (as such term is defined in this Section 6.2) (a “Make-Whole Exercise”). Solely
for purposes of this 

  
 14 

 
Section 6.2, the “Redemption Fair Market Value” shall mean the volume weighted average price of the Common Stock for the ten (10) trading
days immediately following the date on which notice of redemption pursuant to this Section 6.2 is sent to the Registered Holders. In connection with any redemption pursuant to this Section 6.2, the
Company shall provide the Registered Holders with the Redemption Fair Market Value no later than one (1) Business Day after the ten (10) trading day period described above ends. 

 

																																					
	 Redemption Date (period to expiration of warrants)
	  	Fair Market Value of Class A Common Stock	 
	  	£10.00	 	  	11.00	 	  	12.00	 	  	13.00	 	  	14.00	 	  	15.00	 	  	16.00	 	  	17.00	 	  	318.00	 
	 60 months
	  	 	0.261	 	  	 	0.281	 	  	 	0.297	 	  	 	0.311	 	  	 	0.324	 	  	 	0.337	 	  	 	0.348	 	  	 	0.358	 	  	 	0.361	 
	 57 months
	  	 	0.257	 	  	 	0.277	 	  	 	0.294	 	  	 	0.310	 	  	 	0.324	 	  	 	0.337	 	  	 	0.348	 	  	 	0.358	 	  	 	0.361	 
	 54 months
	  	 	0.252	 	  	 	0.272	 	  	 	0.291	 	  	 	0.307	 	  	 	0.322	 	  	 	0.335	 	  	 	0.347	 	  	 	0.357	 	  	 	0.361	 
	 51 months
	  	 	0.246	 	  	 	0.268	 	  	 	0.287	 	  	 	0.304	 	  	 	0.320	 	  	 	0.333	 	  	 	0.346	 	  	 	0.357	 	  	 	0.361	 
	 48 months
	  	 	0.241	 	  	 	0.263	 	  	 	0.283	 	  	 	0.301	 	  	 	0.317	 	  	 	0.332	 	  	 	0.344	 	  	 	0.356	 	  	 	0.361	 
	 45 months
	  	 	0.235	 	  	 	0.258	 	  	 	0.279	 	  	 	0.298	 	  	 	0.315	 	  	 	0.330	 	  	 	0.343	 	  	 	0.356	 	  	 	0.361	 
	 42 months
	  	 	0.228	 	  	 	0.252	 	  	 	0.274	 	  	 	0.294	 	  	 	0.312	 	  	 	0.328	 	  	 	0.342	 	  	 	0.355	 	  	 	0.361	 
	 39 months
	  	 	0.221	 	  	 	0.246	 	  	 	0.269	 	  	 	0.290	 	  	 	0.309	 	  	 	0.325	 	  	 	0.340	 	  	 	0.354	 	  	 	0.361	 
	 36 months
	  	 	0.213	 	  	 	0.239	 	  	 	0.263	 	  	 	0.285	 	  	 	0.305	 	  	 	0.323	 	  	 	0.339	 	  	 	0.353	 	  	 	0.361	 
	 33 months
	  	 	0.205	 	  	 	0.232	 	  	 	0.257	 	  	 	0.280	 	  	 	0.301	 	  	 	0.320	 	  	 	0.337	 	  	 	0.352	 	  	 	0.361	 
	 30 months
	  	 	0.196	 	  	 	0.224	 	  	 	0.250	 	  	 	0.274	 	  	 	0.297	 	  	 	0.316	 	  	 	0.335	 	  	 	0.351	 	  	 	0.361	 
	 27 months
	  	 	0.185	 	  	 	0.214	 	  	 	0.242	 	  	 	0.268	 	  	 	0.291	 	  	 	0.313	 	  	 	0.332	 	  	 	0.350	 	  	 	0.361	 
	 24 months
	  	 	0.173	 	  	 	0.204	 	  	 	0.233	 	  	 	0.260	 	  	 	0.285	 	  	 	0.308	 	  	 	0.329	 	  	 	0.348	 	  	 	0.361	 
	 21 months
	  	 	0.161	 	  	 	0.193	 	  	 	0.223	 	  	 	0.252	 	  	 	0.279	 	  	 	0.304	 	  	 	0.326	 	  	 	0.347	 	  	 	0.361	 
	 18 months
	  	 	0.146	 	  	 	0.179	 	  	 	0.211	 	  	 	0.242	 	  	 	0.271	 	  	 	0.298	 	  	 	0.322	 	  	 	0.345	 	  	 	0.361	 
	 15 months
	  	 	0.130	 	  	 	0.164	 	  	 	0.197	 	  	 	0.230	 	  	 	0.262	 	  	 	0.291	 	  	 	0.317	 	  	 	0.342	 	  	 	0.361	 
	 12 months
	  	 	0.111	 	  	 	0.146	 	  	 	0.181	 	  	 	0.216	 	  	 	0.250	 	  	 	0.282	 	  	 	0.312	 	  	 	0.339	 	  	 	0.361	 
	 9 months
	  	 	0.090	 	  	 	0.125	 	  	 	0.162	 	  	 	0.199	 	  	 	0.237	 	  	 	0.272	 	  	 	0.305	 	  	 	0.336	 	  	 	0.361	 
	 6 months
	  	 	0.065	 	  	 	0.099	 	  	 	0.137	 	  	 	0.178	 	  	 	0.219	 	  	 	0.259	 	  	 	0.296	 	  	 	0.331	 	  	 	0.361	 
	 3 months
	  	 	0.034	 	  	 	0.065	 	  	 	0.104	 	  	 	0.150	 	  	 	0.197	 	  	 	0.243	 	  	 	0.286	 	  	 	0.326	 	  	 	0.361	 
	 0 months
	  	 	—  	 	  	 	—  	 	  	 	0.042	 	  	 	0.115	 	  	 	0.179	 	  	 	0.233	 	  	 	0.281	 	  	 	0.323	 	  	 	0.361	 

 The exact Redemption Fair Market Value and Redemption Date may not be set forth in the table above, in which
case, if the Redemption Fair Market Value is between two values in the table or the Redemption Date is between two redemption dates in the table, the number of shares of Common Stock to be issued for each Warrant exercised in a Make-Whole Exercise
shall be determined by a straight-line interpolation between the number of shares set forth for the higher and lower Redemption Fair Market Values and the earlier and later redemption dates, as applicable, based on a
365- or 366-day year, as applicable. 
 The share prices set
forth in the column headings of the table above shall be adjusted as of any date on which the number of shares issuable upon exercise of a Warrant or the Warrant Price is adjusted pursuant to Section 4 hereof. If the number
of shares issuable upon exercise of a Warrant is adjusted pursuant to Section 4 hereof, the adjusted share prices in the column headings shall equal the share prices immediately prior to such adjustment, multiplied by a
fraction, the numerator of which is the number of shares deliverable upon exercise of a Warrant immediately prior to such adjustment and the denominator of which is the number of shares deliverable upon exercise of a Warrant as so adjusted. The
number of shares in the table above shall be adjusted in the same manner and at the same time as the number of shares issuable upon exercise of a Warrant. If the Warrant Price of a warrant is adjusted, (a) in the case of an adjustment pursuant
to Section 4.3.2 hereof, the adjusted share prices in the column headings shall equal the share prices 

  
 15 

 
immediately prior to such adjustment multiplied by a fraction, the numerator of which is the higher of the Market Value and the Newly Issued Price and the denominator of which is $10.00 and
(b) in the case of an adjustment pursuant to subsection 4.1.2 hereof, the adjusted share prices in the column headings shall equal the share prices immediately prior to such adjustment less the decrease in the Warrant
Price pursuant to such Warrant Price adjustment. In no event shall the number of shares issued in connection with a Make-Whole Exercise exceed 0.361 shares of Common Stock per Warrant (subject to adjustment). 

6.3 Date Fixed for, and Notice of, Redemption. In the event that the Company elects to redeem all of the Warrants pursuant to
Section 6.1 or Section 6.2, the Company shall fix a date for the redemption (the “Redemption Date”). Notice of redemption shall be mailed by first class mail, postage
prepaid, by the Company not less than thirty (30) days prior to the Redemption Date (the “30-day Redemption Period”) to the Registered Holders of the Warrants to be redeemed at
their last addresses as they shall appear on the registration books. Any notice mailed in the manner herein provided shall be conclusively presumed to have been duly given whether or not the Registered Holder received such notice. 

6.4 Exercise After Notice of Redemption. The Warrants may be exercised, for cash (or on a “cashless basis” in
accordance with subsection 3.3.1 of this Agreement) at any time after notice of redemption shall have been given by the Company pursuant to Section 6.3 hereof and prior to the Redemption Date. On
and after the Redemption Date, the record holder of the Warrants shall have no further rights except to receive, upon surrender of the Warrants, the Redemption Price. 

6.5 Exclusion of Certain Warrants. The Company agrees that the redemption rights provided in Section 6.1 and
Section 6.2 (except as set forth therein) shall not apply to the Private Placement Warrants, the Working Capital Warrants or the Post-IPO Warrants (if such Post-IPO Warrants provide that they are non-redeemable by the Company) if at the time of the redemption such Private Placement Warrants, Working Capital Warrants or Post-IPO Warrants continue to be held by the Sponsor or any officers or directors of the Company, or any of their Permitted Transferees, as applicable. However, once such Private Placement Warrants, Working Capital
Warrants or Post-IPO Warrants are transferred (other than to Permitted Transferees under Section 2.6), the Company may redeem the Private Placement Warrants, the Working Capital
Warrants or the Post-IPO Warrants (if the Post-IPO Warrants permit such redemption by their terms) pursuant to Section 6.1 or 6.2
hereof, provided that the criteria for redemption are met, including the opportunity of the holder of such Private Placement Warrants, Working Capital Warrants or Post-IPO Warrants to exercise the
Private Placement Warrants, the Working Capital Warrants or the Post-IPO Warrants prior to redemption pursuant to Section 6.4 hereof. The Private Placement Warrants, the Working
Capital Warrants or the Post-IPO Warrants (if such Post-IPO Warrants provide that they are non-redeemable by the Company) that
are transferred to persons other than Permitted Transferees shall upon such transfer cease to be Private Placement Warrants, Working Capital Warrants or Post-IPO Warrants and shall become Public Warrants under
this Agreement. 

  
 16 

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

7.1 No Rights as Stockholder. A Warrant does not entitle the Registered Holder thereof to any of the rights of a stockholder of the
Company, including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive rights to vote or to consent or to receive notice as a stockholder in respect of the meetings of stockholders or the election of
directors of the Company or any other matter. 
 7.2 Lost, Stolen, Mutilated, or Destroyed Warrants. If any Warrant is lost, stolen,
mutilated, or destroyed, the Company and the Warrant Agent may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a mutilated Warrant, include the surrender thereof), issue a new Warrant of
like denomination, tenor, and date as the Warrant so lost, stolen, mutilated, or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company, whether or not the allegedly lost, stolen, mutilated, or destroyed
Warrant shall be at any time enforceable by anyone. 
 7.3 Reservation of Common Stock. The Company shall at all times reserve and
keep available a number of its authorized but unissued shares of Common Stock that shall be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement. 

7.4 Registration of Common Stock; Cashless Exercise at Company’s Option. 

7.4.1 Registration of the Common Stock. The Company agrees that as soon as practicable, but in no event later than fifteen
(15) Business Days after the closing of its initial Business Combination, it shall use its best efforts to file with the Commission a registration statement for the registration, under the Securities Act, of the issuance of the shares of Common
Stock issuable upon exercise of the Warrants. The Company shall use its best efforts to cause the same to become effective and to maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until the
expiration or redemption of the Warrants in accordance with the provisions of this Agreement. If any such registration statement has not been declared effective by the 60th Business Day following the closing of the Business Combination, holders of
the Warrants shall have the right, during the period beginning on the 61st Business Day after the closing of the Business Combination and ending upon such registration statement being declared effective by the Commission, and during any other period
when the Company shall fail to have maintained an effective registration statement covering the issuance of the shares of Common Stock issuable upon exercise of the Warrants, to exercise such Warrants on a “cashless basis,” by exchanging
the Warrants (in accordance with Section 3(a)(9) of the Securities Act (or any successor rule) or another exemption) for that number of shares of Common Stock equal to the quotient obtained by dividing (x) the product of the number of
shares of Common Stock underlying the Warrants, multiplied by the excess of the “Fair Market Value” (as defined below) over the Warrant Price by (y) the Fair Market Value. Solely for purposes of this
subsection 7.4.1, “Fair Market Value” shall mean the average last reported sales price of the Common Stock for the ten (10) trading day period ending on the trading day prior to the date that
notice of exercise is received by the Warrant Agent from the holder of such Warrants or its securities broker or intermediary. The date that notice of cashless exercise is received by the Warrant Agent shall be conclusively determined by the Warrant
Agent. In connection with the “cashless exercise” of a 

  
 17 

 
Public Warrant, the Company shall, upon request, provide the Warrant Agent with an opinion of counsel for the Company (which shall be an outside law firm with securities law experience) stating
that (a) the exercise of the Warrants on a cashless basis in accordance with this subsection 7.4.1 is not required to be registered under the Securities Act and (b) the shares of Common Stock issued upon such
exercise shall be freely tradable under United States federal securities laws by anyone who is not an affiliate (as such term is defined in Rule 144 under the Securities Act (or any successor rule)) of the Company and, accordingly, shall not be
required to bear a restrictive legend. Except as provided in subsection 7.4.2, for the avoidance of any doubt, unless and until all of the Warrants have been exercised or have expired, the Company shall continue to be
obligated to comply with its registration obligations under the first three sentences of this subsection 7.4.1. 

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

8. Concerning the Warrant Agent and Other Matters. 

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

8.2 Resignation, Consolidation, or Merger of Warrant Agent. 

8.2.1 Appointment of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its duties and
be discharged from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the office of the Warrant Agent becomes vacant by resignation or incapacity to act or otherwise, the Company
shall appoint in writing a successor Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment within a period of thirty (30) days after it has been notified in writing of such resignation or incapacity by
the Warrant Agent or by the holder of a Warrant (who shall, with such notice, submit his, her or its Warrant for inspection by the Company), then the holder of any Warrant may apply to the Supreme Court of the State of New York for the County of New
York for the appointment of a successor Warrant Agent at the Company’s cost. Any successor Warrant Agent, whether appointed by the Company or by such 

  
 18 

 
court, shall be a corporation organized and existing under the laws of the State of New York, in good standing and having its principal office in the Borough of Manhattan, City and State of New
York, and authorized under such laws to exercise corporate trust powers and subject to supervision or examination by federal or state authority. After appointment, any successor Warrant Agent shall be vested with all the authority, powers, rights,
immunities, duties, and obligations of its predecessor Warrant Agent with like effect as if originally named as Warrant Agent hereunder, without any further act or deed; but if for any reason it becomes necessary or appropriate, the predecessor
Warrant Agent shall execute and deliver, at the expense of the Company, an instrument transferring to such successor Warrant Agent all the authority, powers, and rights of such predecessor Warrant Agent hereunder; and upon request of any successor
Warrant Agent the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for more fully and effectually vesting in and confirming to such successor Warrant Agent all such authority, powers, rights, immunities,
duties, and obligations. 
 8.2.2 Notice of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the
Company shall give notice thereof to the predecessor Warrant Agent and the Transfer Agent for the Common Stock not later than the effective date of any such appointment. 

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

8.3 Fees and Expenses of Warrant Agent. 

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

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

8.4 Liability of Warrant Agent. 

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

  
 19 

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

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

8.5 Acceptance of Agency. The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon
the terms and conditions herein set forth and among other things, shall account promptly to the Company with respect to Warrants exercised and concurrently account for, and pay to the Company, all monies received by the Warrant Agent for the
purchase of shares of Common Stock through the exercise of the Warrants. 
 8.6 Waiver. The Warrant Agent has no right of set-off or any other right, title, interest or claim of any kind (“Claim”) in, or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement,
dated as of the date hereof, by and between the Company and the Warrant Agent as trustee thereunder) and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever.
The Warrant Agent hereby waives any and all Claims against the Trust Account and any and all rights to seek access to the Trust Account. 

9. Miscellaneous Provisions. 

9.1 Successors. All the covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind
and inure to the benefit of their respective successors and assigns. 
 9.2 Notices. Any notice, statement or demand authorized by
this Agreement to be given or made by the Warrant Agent or by the holder of any Warrant to or on the Company shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service
within five (5) days after deposit of such notice, postage prepaid, 

  
 20 

 addressed (until another address is filed in writing by the Company with the Warrant Agent), as follows:

 Live Oak Crestview Climate Acquisition Corp. 

40 S Main Street, #2550 

Memphis, Tennessee 38103 

Attn.: Gary Wunderlich 

in each case, with copies to: 

Vinson & Elkins L.L.P. 

1001 Fannin Street, Suite 2500 

Houston, Texas 77002 

Attn: Sarah Morgan 

Email: smorgan@velaw.com 

White & Case LLP 

1221 Avenue of the Americas 

New York, New York 10020 

Attn: Joel L. Rubinstein 

Email: joel.rubinstein@whitecase.com 

Any notice, statement or demand authorized by this Agreement to be given or made by the holder of any Warrant or by the Company to or on the Warrant Agent
shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five (5) days after deposit of such notice, postage prepaid, addressed (until another address is filed
in writing by the Warrant Agent with the Company), as follows: 
 Continental Stock Transfer & Trust Company 

1 State Street, 30th Floor 

New York, NY 10004 

Attention: Compliance Department 

9.3 Applicable Law and Exclusive Forum. The validity, interpretation, and performance of this Agreement and of the Warrants shall be
governed in all respects by the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The Company hereby agrees that any action,
proceeding or claim against it arising out of or relating in any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United States District Court for the Southern District of New York, and irrevocably
submits to such jurisdiction, which jurisdiction shall be exclusive forum for any such action, proceeding or claim. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum.
Notwithstanding the foregoing, the provisions of this paragraph will not apply to suits brought to enforce any liability or duty created by the Exchange Act or any other claim for which the federal district courts of the United States of America are
the sole and exclusive forum. 

  
 21 

 Any person or entity purchasing or otherwise acquiring any interest in the Warrants shall be
deemed to have notice of and to have consented to the forum provisions in this Section 9.3. If any action, the subject matter of which is within the scope the forum provisions above, is filed in a court other than a court
located within the State of New York or the United States District Court for the Southern District of New York (a “foreign action”) in the name of any warrant holder, such warrant holder shall be deemed to have consented to:
(x) the personal jurisdiction of the state and federal courts located within the State of New York or the United States District Court for the Southern District of New York in connection with any action brought in any such court to enforce the
forum provisions (an “enforcement action”), and (y) having service of process made upon such warrant holder in any such enforcement action by service upon such warrant holder’s counsel in the foreign action as agent
for such warrant holder. 
 9.4 Persons Having Rights under this Agreement. Nothing in this Agreement shall be construed to confer
upon, or give to, any person or corporation other than the parties hereto and the Registered Holders of the Warrants any right, remedy, or claim under or by reason of this Agreement or of any covenant, condition, stipulation, promise, or agreement
hereof. All covenants, conditions, stipulations, promises, and agreements contained in this Agreement shall be for the sole and exclusive benefit of the parties hereto and their successors and assigns and of the Registered Holders of the Warrants.

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

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

9.7 Effect of Headings. The section headings herein are for convenience only and are not part of this Agreement and shall not affect
the interpretation thereof. 
 9.8 Amendments. This Agreement may be amended by the parties hereto without the consent of any
Registered Holder for the purpose of (a) curing any ambiguity or to correct any defective provision or mistake, including to conform the provisions hereof to the description of the terms of the Warrants and this Agreement set forth in the
Prospectus or (b) adding or changing any provisions with respect to matters or questions arising under this Agreement as the parties may deem necessary or desirable and that the parties deem shall not adversely affect the interest of the
Registered Holders. Any modification or amendment to this Agreement to allow for the Warrants to be classified as equity in the Company’s financial statements shall require the vote or written consent of the Registered Holders of a majority of
the then-outstanding Public Warrants and Private Placement Warrants, voting together as a single class. All other modifications or amendments, including any amendment to increase the Warrant Price or shorten the Exercise Period, shall require the
vote or written consent of the Registered Holders of a majority of the then-outstanding Public Warrants and, solely with respect to any amendment to the terms of, or any provision of, this Agreement with respect to the Private Placement Warrants,
Working Capital Warrants or Post-IPO Warrants, a majority of the number of the then outstanding Private Placement Warrants, Working Capital Warrants or Post-IPO
Warrants. Notwithstanding the foregoing, the Company may lower the Warrant Price or extend the duration of the Exercise Period pursuant to Sections 3.1 and 3.2, respectively, without the consent of the Registered
Holders. 

  
 22 

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

Exhibit A Form of Warrant Certificate 
 Exhibit B
Legend — Private Placement Warrants 
 [Signature page follows] 

  
 23 

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

			
	 LIVE OAK CRESTVIEW CLIMATE ACQUISITION CORP. 

		
	By:	 	 
	Name:	 	 Gary K. Wunderlich, Jr.

	Title:	 	Chief Financial Officer, President and Secretary
	
	 CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent 

		
	By:	 	 
	Name:	 	
	Title:	 	

  
 24 

 EXHIBIT A 

  
 A-1 

 [FACE] 

Number 
 Warrants 

THIS WARRANT SHALL BE VOID IF NOT EXERCISED PRIOR TO 

THE EXPIRATION OF THE EXERCISE PERIOD PROVIDED FOR 

IN THE WARRANT AGREEMENT DESCRIBED BELOW 

LIVE OAK CRESTVIEW CLIMATE ACQUISITION CORP. 

Incorporated Under the Laws of the State of Delaware 

CUSIP [•] 
 Warrant
Certificate 
 This Warrant Certificate certifies that
                    , or registered assigns, is the registered holder of
                     warrant(s) evidenced hereby (the “Warrants” and each, a “Warrant”) to purchase
shares of Class A common stock, $0.0001 par value per share (“Common Stock”), of Live Oak Crestview Climate Acquisition Corp., a Delaware corporation (the “Company”). Each whole Warrant entitles the holder,
upon exercise during the period set forth in the Warrant Agreement referred to below, to receive from the Company that number of fully paid and non-assessable shares of Common Stock as set forth below, at the
exercise price (the “Exercise Price”) as determined pursuant to the Warrant Agreement, payable in lawful money (or through “cashless exercise” as provided for in the Warrant Agreement) of the United
States of America upon surrender of this Warrant Certificate and payment of the Exercise Price at the office or agency of the Warrant Agent referred to below, subject to the conditions set forth herein and in the Warrant Agreement. Defined terms
used in this Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant Agreement. 
 Each whole
Warrant is initially exercisable for one fully paid and non-assessable share of Common Stock. No fractional shares will be issued upon exercise of any Warrant. If, upon the exercise of a Warrant, a holder
would be entitled to receive a fractional interest in a share, the Company will, upon exercise, round down to the nearest whole number of the number of shares of Common Stock to be issued to the holder. The number of shares of Common Stock issuable
upon exercise of the Warrants is subject to adjustment upon the occurrence of certain events set forth in the Warrant Agreement. 
 The
initial Exercise Price per share of Common Stock for any Warrant is equal to $11.50 per share. The Exercise Price is subject to adjustment upon the occurrence of certain events set forth in the Warrant Agreement. 

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

  
 A-2 

 The Warrants may be redeemed, subject to certain conditions, as set forth in the Warrant
Agreement. 
 Reference is hereby made to the further provisions of this Warrant Certificate set forth on the reverse hereof and such
further provisions shall for all purposes have the same effect as though fully set forth at this place. 
 This Warrant Certificate shall
not be valid unless countersigned by the Warrant Agent, as such term is used in the Warrant Agreement. 
 This Warrant Certificate shall be
governed by and construed in accordance with the internal laws of the State of New York, without regard to conflicts of laws principles thereof. 
  

			
	 LIVE OAK CRESTVIEW CLIMATE ACQUISITION CORP.

			
		
	By:	 	 

 
			
	Name:	 	

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

 
			
		
	By:	 	 

 
			
	Name:	 	

 
			
	Title:	 	

  
 A-3 

 [Form of Warrant Certificate] 

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

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

Notwithstanding anything else in this Warrant Certificate or the Warrant Agreement, no Warrant may be exercised unless at the time of exercise
(i) a registration statement covering the shares of Common Stock to be issued upon exercise is effective under the Securities Act and (ii) a prospectus thereunder relating to the shares of Common Stock is current, except through
“cashless exercise” as provided for in the Warrant Agreement. 
 The Warrant Agreement provides that upon the occurrence of
certain events the number of shares of Common Stock issuable upon exercise of the Warrants set forth on the face hereof may, subject to certain conditions, be adjusted. If, upon exercise of a Warrant, the holder thereof would be entitled to receive
a fractional interest in a share of Common Stock, the Company shall, upon exercise, round down to the nearest whole number of shares of Common Stock to be issued to the holder of the Warrant. 

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

  
 A-4 

 Upon due presentation for registration of transfer of this Warrant Certificate at the office
of the Warrant Agent a new Warrant Certificate or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s) in exchange for this Warrant Certificate, subject to the limitations
provided in the Warrant Agreement, without charge except for any tax or other governmental charge imposed in connection therewith. 
 The
Company and the Warrant Agent may deem and treat the Registered Holder(s) hereof as the absolute owner(s) of this Warrant Certificate (notwithstanding any notation of ownership or other writing hereon made by anyone), for the purpose of any exercise
hereof, of any distribution to the holder(s) hereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary. Neither the Warrants nor this Warrant Certificate entitles any holder
hereof to any rights of a stockholder of the Company. 

  
 A-5 

 Election to Purchase 

(To Be Executed Upon Exercise of Warrant) 

The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, to receive shares of Common Stock
and herewith tenders payment for such shares of Common Stock to the order of Live Oak Crestview Climate Acquisition Corp. (the “Company”) in the amount of
$                 in accordance with the terms hereof. The undersigned requests that a certificate for such shares of Common Stock be registered in the name of
                    , whose address is
                     and that such shares of Common Stock be delivered to
                     whose address is
                    . If said number of shares of Common Stock is less than all of the shares of Common Stock purchasable hereunder, the undersigned
requests that a new Warrant Certificate representing the remaining balance of such shares of Common Stock be registered in the name of
                    , whose address is
                     and that such Warrant Certificate be delivered to
                    , whose address is
                    . 
 In the event
that the Warrant has been called for redemption by the Company pursuant to Section 6.2 of the Warrant Agreement and a holder thereof elects to exercise its Warrant pursuant to a Make-Whole Exercise, the number of shares of
Common Stock that this Warrant is exercisable for shall be determined in accordance with Section 6.2 of the Warrant Agreement. 

In the event that the Warrant is a Private Placement Warrant or a Working Capital Warrant that is to be exercised on a “cashless”
basis pursuant to subsection 3.3.1(c) of the Warrant Agreement, the number of shares of Common Stock that this Warrant is exercisable for shall be determined in accordance with subsection 3.3.1(c)
of the Warrant Agreement. 
 In the event that the Warrant is to be exercised on a “cashless” basis pursuant to
Section 7.4 of the Warrant Agreement, the number of shares of Common Stock that this Warrant is exercisable for shall be determined in accordance with Section 7.4 of the Warrant Agreement. 

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

  
 A-6 

					
	Date:                 , 20	 	  
	 	   

	  
	 	  
	 	(Signature)
			
		 		 	 
	  
	 	  
	 	   

	  
	 	  
	 	   

	  
	 	  
	 	(Address)
			
	  
	 	  
	 	   

	  
	 	  
	 	(Tax Identification Number)
			
	Signature Guaranteed:	 	  
	 	  

			
	   
	 	  
	 	  

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

  
 A-7 

 EXHIBIT B 

PRIVATE PLACEMENT WARRANTS LEGEND 

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

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

  
 B-1Exhibit 10.1

 

 

2021 Long
Term Retention Plan

 

MERCADOLIBRE, INC. 2021 LONG TERM RETENTION PROGRAM

 

 

 

 

 

 

 

Effective as of January 1, 2021

 

 

 

Contents

 

MercadoLibre, Inc. 2021 Long Term Retention Program

 

	Article 1.   Purpose	2
	Article 2.   Definitions	2
	Article 3.   Participation and Award Opportunities	5
	Article 4.   Payment of Awards	5
	Article 5.   Termination of Employment; Forfeitures	9
	Article 6.   Administrative Provisions	10

 

 

    1

     

    

 

MERCADOLIBRE, INC. 2021
LONG TERM RETENTION PROGRAM

 

Article 1.                
Purpose

 

The MercadoLibre, Inc. 2021 Long Term Retention Program (the “Plan”)
is effective as of January 1, 2021. The principal purpose of the Plan is to assist the Company in the retention of key employees
that have valuable industry experience and developed competencies by rewarding Participants in relation to their individual results
and their contributions to the organization, as well as overall Company goals and performance.

 

Article 2.                
Definitions

 

When used in the Plan, the following terms shall have the meanings
set forth below:

 

“Affiliate” means with respect to
any Person, a Person that controls, is controlled by, or is under common control with such Person (it being understood, that a
Person shall be deemed to “control” another Person, for purposes of this definition, if such Person directly or indirectly
has the power to direct or cause the direction of the management and policies of such other Person, whether through holding ownership
interests in such other Person, through agreements or otherwise, and that direct or indirect ownership of ten percent (10%) or
more of the voting interests of another Person shall always be deemed to constitute “control”).

 

“Award” means a cash bonus to be
paid to a Participant, subject to the terms and conditions of this Plan, for services provided to the Company.

 

“Award Committee” means (i) with
respect to all Eligible Employees, the Compensation Committee of the Board, or such other committee that the Board appoints to
administer this Plan, which shall have general administrative authority concerning the Plan, and (ii) with respect to Eligible
Employees who are not executive officers of the Company, the Company’s Chief Executive Officer, each of which shall, subject
to Article 6, have the authority and discretion to resolve any and all terms and conditions of any Awards and disputes concerning
the Plan and any Awards hereunder.

 

“Board” means the board of directors
of the Company.

 

“Cause” means “cause”
or a similar term set forth in the Participant’s employment agreement with the Company or, if no such agreement is then in
effect, shall mean (A) the Participant’s material disregard of his responsibilities, authorities, powers, functions or duties
or failure to act, (B) repeated or material negligence or misconduct by the Participant in the performance of his duties, (C) appropriation
(or attempted appropriation) of a business opportunity of the Company, including attempting to secure or securing any personal
profit in connection with any transaction entered into on behalf of the Company, (D) the commission by the Participant of any act
of fraud, theft or financial dishonesty with respect to the Company, or any felony or criminal act involving moral turpitude or
dishonesty on the part of the Participant, (E) the Participant’s habitual drunkenness or excessive absenteeism not related
to sickness, and/or (F) the material breach by the Participant of any provision of his employment agreement that is not cured by
the Participant within thirty (30) days after written notice of breach has been delivered to the Participant by the Company, unless
such breach is incapable of cure (in which case the Participant shall not be entitled to an opportunity to cure), in each case
of clauses (A) through (F) above, as determined by the Board in good faith.

 

“Change in Control” shall mean a
change in control of the Company which will be deemed to have occurred after the date hereof if:

 

(a)              
any “person” as such term is used in Section 3(a)(9) of the Exchange Act, as modified and used in Sections 13(d) and
14(d) thereof, is or becomes the beneficial owner, as such term is defined in Rule 13d-3 under the Exchange Act, directly or indirectly,
of securities of the Company representing at least fifty percent (50%) of the combined voting power or Shares of the Company; provided,
however, that such term shall not include (A) the Company or any of its subsidiaries, (B) any trustee or other fiduciary holding
securities under an employee benefit plan of the Company or any of its affiliates, (C) an underwriter temporarily holding securities
pursuant to an offering of such securities, (D) any corporation owned, directly or indirectly, by the shareholders of the Company
in substantially the same proportions as their ownership of the Company’s Shares, or (E) any person or group as used in Rule
13d-1(b) under the Exchange Act;

 

    2

     

    

 

(b)              
there is consummated a merger or consolidation of the Company or any of its direct or indirect subsidiaries with any other corporation,
other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto
continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or
any parent thereof) more than fifty percent (50%) of the combined voting power and Shares of the Company or such surviving entity
or any parent thereof outstanding immediately after such merger or consolidation; or

 

(c)              
there is completed a sale or disposition by the Company of all or substantially all of the Company’s assets (or any transaction
having a similar effect, including a liquidation) other than a sale or disposition by the Company of all or substantially all of
the Company’s assets to an entity, more than fifty percent (50%) of the combined voting power and Shares of which is owned
by shareholders of the Company in substantially the same proportions as their ownership of the Shares of the Company immediately
prior to such sale.

 

“Company” means MercadoLibre, Inc.
and its consolidated subsidiaries, and MercadoLibre, Inc.’s successors or assigns.

 

“Covered Termination” means (i) a
termination of a Participant’s employment by the Company without Cause and for a reason other than the Participant’s
death or disability (as determined under Article 5(a)) or (ii) a Participant’s resignation from the Company with Good Reason).

 

“Eligible Employee” means an individual
who is designated by the Award Committee as eligible for this Plan and who is employed by the Company as determined by the Award
Committee.

 

“Good Reason” means (i) a material
diminution in the Participant’s duties, functions and responsibilities to the Company without the Participant’s consent
or the Company preventing the Participant from fulfilling or exercising the Participant’s materials duties, functions and
responsibilities to the Company without the Participant’s consent; (ii) a material reduction in the Participant’s base
salary or bonus opportunity or (iii) a requirement that the Participant relocate the Participant’s employment more than fifty
(50) miles from the location of the Participant’s principal office without the consent of the Participant. A Participant’s
resignation shall not be a resignation with Good Reason unless the Participant gives the Company written notice (delivered within
thirty (30) days after the Participant knows of the event, action, etc. that the Participant asserts constitutes Good Reason),
the event, action, etc. that the Participant asserts constitutes Good Reason is not cured, to the reasonable satisfaction of the
Participant, within thirty (30) days after such notice and the Participant resigns effective not later than thirty (30) days after
the expiration of such cure period.

 

    3

     

    

 

“Market Value” of a Share, as of
any date, means (i) the average closing sale price of one Share as reported on a national stock exchange, including, but not limited
to, the NASDAQ Global Market (a “National Stock Exchange”) during the sixty (60) trading day period (or such shorter
period as the Shares are so listed) ending on the last trading day immediately preceding such date; (ii) if the Shares are not
listed for trading on a National Stock Exchange during any day in that sixty (60) trading day period but are quoted on the Over-the-Counter-Bulletin
Board (the “OTCBB”), the mean between the closing bid and closing asked prices for the Shares as quoted on the OTCBB
during the sixty (60) trading day period (or such shorter period as the Shares are so quoted) ending on the last trading day immediately
preceding such date, (iii) if the Shares are not listed for trading on a National Stock Exchange or quoted on the OTCBB during
any day in that sixty (60) trading day period and the Shares were last traded on a National Stock Exchange, the average closing
sale price of one Share as reported on the National Stock Exchange during the ninety (90) trading day period ending on the last
day the Shares were listed for trading on such Exchange or (iv) if the Shares are not listed for trading on a National Stock Exchange
or quoted on the OTCBB during any day in that sixty (60) trading day period and the Shares were last traded on the OTCBB, the mean
between the closing bid and closing asked prices for the Shares as quoted on the OTCBB during the ninety (90) trading day period
ending on the last day the Shares were quoted on the OTCBB. For purposes of calculating the benefits and valuing Shares for the
single cash payment payable within fifteen (15) days after a Change in Control, the term “Market Value” means the amount
determined under the preceding sentence determined as of the date on which the Change in Control occurs. For purposes of calculating
benefits and valuing Shares for other payments payable after a Change of Control, the term “Market Value” means, (x)
in the event the Company is not the surviving entity in the Change in Control, the amount determined under the first sentence of
this paragraph and determined as of the date on which the Change in Control occurs, or, (y) in the event the Company is the surviving
entity in the Change in Control, the greater of (A) the amount determined under the first sentence of this paragraph and determined
as of the date the benefit is a payable (e.g., as of the Payment Date of the appropriate year or the date of a Participant’s
Covered Termination, as applicable) or (B) the amount determined under the first sentence of this paragraph and determined as of
the date on which the Change in Control occurs.

 

“MercadoLibre Business” means any
activities directly or indirectly related to Online Transactional Platforms, Online Classified Advertisements and/or Payment Platforms.

 

“Online Classified Advertisements”
means listings of goods, products or services on Internet sites, which listings (1) serve the same purpose as the listings appearing
in the classifieds section of printed newspapers, (2) include direct contact information of the seller via telephone, e-mail or
any offline method, which contact information is readily and continuously available to any visitor without restriction or special
action required from the visitor, or provide for a method to contact the seller so that the seller may then respond providing direct
contact information, and (3) are on Internet sites the operator or administrator of which does not (x) play any role in consummating
the transaction to which the listing relates, or (y) provide any information (other than contact information) to the seller regarding
the potential buyer or interested party, or otherwise serve as middle-man between a potential buyer and seller (other than for
the limited purposes expressly set forth in this paragraph), or (z) charge any fee or commission for such transaction (including,
without limitation, any fees for completion of transactions and/or fees based on number of users contacting another user) other
than a listing fee, which is a fee for placing the listing on the website and is chargeable before or at the time such listing
appears. Examples of Online Classifieds Advertisements include Craigslist.com, Kijiji.com, and olx.com.

 

“Online Transactional Platforms”
means online transactional platforms or similar as determined by the Award Committee including, but not limited to, (a) any online
platform offering a wide variety of product lines and/or services, operating in a manner similar to Amazon.com or Submarino.com
as of the date hereof and/or (b) online transactional marketplaces located on websites in which sellers and potential buyers transact
for any kinds of goods and/or services, which goods and/or services are displayed on such website, and in which the sellers’
and potential buyers’ initial contact can only be made through such website (for purposes of initial contact, direct contact
information of another user is not made available to users, in accordance with the terms of use of such website), such as eBay.com,
MercadoLibre.com, DeRemate.com, etc. (and any such domain name with country suffixes).

 

    4

     

    

 

“Participant” means an Eligible Employee
who is designated as eligible to receive an Award for services provided in 2021. The designation of an individual as a Participant
under this Plan shall not provide the individual with any rights to any future participation for any subsequent long term retention
plans that may be adopted by the Company in future years but, subject to the terms of the Plan, an individual shall remain a Participant
for purposes of receiving a payment of an Award until such individual ceases to be an Eligible Employee.

 

“Payment Date” means a date prior
to April 30, to be selected by the Company in its sole discretion.

 

“Payments Platforms” means websites
or platforms enabling the sending, receipt, holding and/or transfer of money from one user to another user through an account that
is funded by, among other things, traditional payment methods and then used to transact with another user electronically, such
as PayPal.com, MercadoPago.com, or Dineromail.com (and any such domain name with country suffixes).

 

“Person” means and includes a natural
person, a corporation, an association, a partnership, a limited liability company, a trust, a joint venture, an unincorporated
organization or any other similar entity or a governmental or quasi-governmental body.

 

“Shares” means shares of common stock
of the Company, $0.001 par value per share.

 

“Territory” means the United States
of America and each country and territory in Latin America and the Caribbean, including, without limitation, Argentina, Bolivia,
Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama,
Paraguay, Peru, Puerto Rico, Uruguay, and Venezuela.

 

Article
3.                 Participation and
Award Opportunities

 

The amount of the Award for each Plan Participant will be established
by the Award Committee and communicated to each Plan Participant. The amount of each Award may be different for each Participant
or levels of Participants as determined by the Award Committee.

 

The amount of each Award shall be enumerated as a specified amount,
calculated in accordance with Article 4 hereof, of United States dollars, unless the Award Committee determines the amount of any
such Award in a local currency. The amount of each Award, to the extent it becomes payable, shall be paid in the form of cash only.

 

Article
4.                 Payment of Awards

 

(a)        Conditions and
Payment.

 

 (1) Any Award granted to a Participant shall be payable to the Participant in accordance with and subject to the terms of this Article 4 and Article 5.

 

(2) The timing and conditions of the payment of such
Award are subject to the terms and conditions of the Plan and, subject to Article 6 of the Plan, any other terms and conditions
determined by the Award Committee to be appropriate. Subject to the following paragraphs and Article 5, Participant must be employed
as an Eligible Employee on the date each portion Award is to be paid to such Participant. An Award may, but is not required to,
be evidenced by a separate agreement executed by the Participant.

 

    5

     

    

 

(3) Each Participant’s Award shall be payable as
follows:

 

(i)                
Sixteen and two-thirds percent (16.66%) of half of Participant’s Award shall be payable to the Participant on the Payment
Date of each calendar year for a period of six (6) years starting in 2022; and

 

(ii)             
the Participant shall receive on the Payment Date of each calendar year for a period of six (6) years starting in 2022, a payment
equal in value to the product of (i) multiplied by (ii), where (i) equals sixteen and two-thirds percent (16.66%) of half of Participant’s
Award and (ii) equals the quotient of (a) divided by (b), where (a), the numerator, equals the Market Value as of the first day
of the fiscal year in which the applicable Payment Date occurs and (b), the denominator, equals $ $1431.26 (the average closing
price of the Company’s common stock on the NASDAQ Global Market during the final sixty (60) trading days of 2020).

 

(b)        Notwithstanding anything
in the Plan or any other agreement entered into in connection with or pursuant to the Plan:

 

(1)              
Each Participant who is employed by the Company on the date a Change in Control occurs shall be vested in the right to receive
fifty percent (50%) of the Award payments scheduled to be paid thereafter.

 

(2)              
As soon as practicable after the date a Change in Control occurs, but in no event more than fifteen (15) days after the date a
Change in Control occurs, each Participant described in clause (1) of this paragraph shall receive a single cash payment equal
to fifty percent (50%) of the Award payments scheduled to be paid after the Change in Control (based on the Market Value on the
date the Change in Control occurs).

 

(3)              
Each Award payment scheduled to be paid after the Change in Control shall be reduced by fifty percent (50%), i.e., to reflect
the single cash payment under clause (2) of this paragraph, and shall continue to be paid on each Payment Date in accordance with
the preceding paragraph, subject to the Participant’s continued employment; provided, however, that if a Participant described
in clause (1) of this paragraph experiences a Covered Termination on or after Change in Control, then any Award payments scheduled
to be paid after the Covered Termination shall be paid in a single cash payment (based on the Market Value on the date of the Covered
Termination) within fifteen (15) days after the Covered Termination.

 

(c)        Notwithstanding anything
in the Plan or any agreement entered into in connection with or pursuant to the Plan:

 

		(1)	The portion of any Award under this Plan that was forfeited or
forfeitable upon the Participant’s Covered Termination before a Change in Control shall be reinstated (or if not yet forfeited,
retained) as of the date of the Change in Control if such date is not more than one hundred and twenty (120) days after the date
of the Covered Termination.

 

    6

     

    

 

		(2)	As soon as practicable after the date a Change in Control occurs,
but in no event more than fifteen (15) days after the date a Change in Control occurs, each Participant described in clause (1)
of this paragraph shall receive a single cash payment equal to one hundred percent (100%) of the Award payments scheduled to be
paid after the date of the Participant’s Covered Termination. With respect to any Award payment originally scheduled to have
been paid before the date of the Change in Control, the amount of such payment will be based on the Market Value on the date of
the Covered Termination. With respect to any Award payments scheduled to be paid on or after the Change in Control, the amount
of such payment will be based on the Market Value on the date the Change in Control occurs.

 

		(3)	If a Participant holding an Award that constitutes “deferred
compensation” under Section 409A of the Internal Revenue Code of 1986 (the “Code”) is a “specified employee”
for purposes of Section 409A of the Code, no distribution or payment of any amount that is due because of a “separation from
service” (as defined in Section 409A of the Code without regard to alternative definitions thereunder) will be issued or
paid before the date that is six (6) months following the date of such Participant’s “separation from service”
(as defined in Section 409A of the Code without regard to alternative definitions thereunder) or, if earlier, the date of the Participant’s
death, unless such distribution or payment can be made in a manner that complies with Section 409A of the Code, and any amounts
so deferred will be paid in a lump sum on the day after such six month period elapses, with the balance paid thereafter on the
original schedule. Each payment provided any Participant in connection with an Award granted hereunder shall be considered a separate
payment for purposes of Section 409A of the Code.

 

(d)        Notwithstanding anything
in the Plan or any other agreement entered into in connection with or pursuant to the Plan:

 

		(1)	If any portion of an Award received or to be received by a Participant (either alone or together
with other payments or benefits which such Participant received or realized or is then entitled to receive or realize from the
Company under any other plan, program, arrangement or agreement in connection with a Change in Control or a Participant’s
termination of employment) (all such payments and benefits, being hereinafter referred to as the “Total Payments”)
would be subject (in whole or part), to any excise tax imposed under section 4999 of the Code (the “Excise Tax”), then,
after taking into account any reduction in the Total Payments provided by reason of section 280G of the Code in any other plan,
program, arrangement or agreement, the Company will reduce the payment of the Award to the extent necessary so that no portion
of the Total Payments is subject to the Excise Tax (but in no event to less than zero); provided, however, that the
Award will only be reduced if (i) the net amount of any Total Payments, as so reduced (and after subtracting the net amount of
United States federal, state, municipal and local income taxes on such reduced Total Payments and after taking into account the
phase out, if any, of itemized deductions and personal exemptions attributable to such reduced Total Payments), is greater than
or equal to (ii) the net amount of such Total Payments without such reduction (but after subtracting the net amount of federal,
state, municipal and local income taxes on such Total Payments and the amount of Excise Tax to which the Participant would be subject
in respect of such unreduced Total Payments and after taking into account the phase out, if any, of itemized deductions and personal
exemptions attributable to such unreduced Total Payments).

 

    7

     

    

 

		(2)	If (A) any portion of the Total Payments other than an Award (the “Other Payments”)
is required to be reduced pursuant to a provision substantially similar to this Article 4(d), (B) any portion of an Award is required
to be reduced pursuant to this Article 4(d); and (C) there is no other provision in any other plan, program, arrangement or agreement
governing the payment of the Other Payments which dictates the order of the reduction in the Other Payments, then the Total Payments
will be reduced in the following order: (i) payments that are payable in cash that are valued at full value under Treasury Regulation
Section 1.280G-1, Q&A 24(a) will be reduced (if necessary, to zero), with amounts that are payable last reduced first; (ii)
payments and benefits due in respect of any equity valued at full value under Treasury Regulation Section 1.280G-1, Q&A 24(a),
with the highest values reduced first (as such values are determined under Treasury Regulation Section 1.280G-1, Q&A 24) will
next be reduced; (iii) payments that are payable in cash that are valued at less than full value under Treasury Regulation Section
1.280G-1, Q&A 24, with amounts that are payable last reduced first, will next be reduced; (iv) payments and benefits due in
respect of any equity valued at less than full value under Treasury Regulation Section 1.280G-1, Q&A 24, with the highest values
reduced first (as such values are determined under Treasury Regulation Section 1.280G-1, Q&A 24) will next be reduced; and
(v) all other non-cash benefits not otherwise described in clauses (ii) or (iv) will be next reduced pro-rata. Any reductions made
pursuant to each of clauses (i)-(v) above will be made in the following manner: first, a pro-rata reduction of cash payment and
payments and benefits due in respect of any equity not subject to section 409A of the Code, and second, a pro-rata reduction of
cash payments and payments and benefits due in respect of any equity subject to section 409A of the Code as deferred compensation.

 

		(3)	For purposes of determining whether and the extent to which the Award will be subject to the Excise
Tax and the amount of such Excise Tax: (i) no portion of the Award the receipt or enjoyment of which the Participant shall have
waived at such time and in such manner as not to constitute a “payment” within the meaning of section 280G(b) of the
Code will be taken into account; and (ii) no portion of the Award will be taken into account which, in the opinion of the accounting
firm which was, immediately prior to the Change in Control, the Company’s independent auditor, does not constitute a “parachute
payment” within the meaning of section 280G(b)(2) of the Code (including by reason of section 280G(b)(4)(A) of the Code)
and, in calculating the Excise Tax, no portion of such Award will be taken into account which constitutes reasonable compensation
for services actually rendered, within the meaning of section 280G(b)(4)(B) of the Code, in excess of the Base Amount (as defined
in section 280G(b)(3) of the Code) allocable to such reasonable compensation.

 

		(4)	The fact that the Participant’s right to payments or benefits may be reduced by reason of
the limitations contained in this Article 4(d)(4) will not of itself limit or otherwise affect any other rights of the Participant
under the Plan. The Participant and the Company shall each reasonably cooperate with the other in connection with any administrative
or judicial proceedings concerning the existence or amount of liability for Excise Tax with respect to the Award.

 

    8

     

    

 

Article
2.                 Termination of Employment;
Forfeitures

 

(a)              
Except as provided in Article 4 with respect to a Covered Termination within one hundred and twenty (120) days before a Change
in Control or a Covered Termination on or after a Change in Control, participation in the Plan shall cease immediately upon a Participant’s
retirement, resignation or termination of employment as an Eligible Employee for any reason (with or without Cause), or if determined
by the Award Committee, upon the Participant’s death or disability. Disability will be determined under the Company’s
long term disability plan, if any, or upon receipt of a letter of determination or similar of the Participant’s complete
disability by the applicable governmental authority under local applicable law, which complete disability entitles the Participant
to disability payments under local law.

 

(b)              
In the event that:

 

(2)              
while the Participant is employed by the Company, he or she engages in, directly or indirectly, any other business or activity
that could materially or adversely affect the Company’s business or his or her ability to perform his or her duties for the
Company, including, but not limited to, any activities adversely affecting the MercadoLibre Business anywhere in the Territory;

 

(3)              
while the Participant is employed by the Company or during the one-year period following the termination of the Participant’s
employment for any reason, he or she directly or indirectly, on his or her own behalf or on behalf of another Person or entity,
hires or solicits for hire any employees of the Company or its Affiliates or in any manner attempts to influence or induce any
employee of the Company or its Affiliates to leave their employment; or

 

(4)              
while the Participant is employed by the Company or during the one-year period following the termination of the Participant’s
employment for any reason, he or she alone (or in association with any other Person) directly or indirectly, in any capacity, owns,
operates, manages, controls, engages in, invests in, becomes employed by, acts as a consultant or advisor to, or provides services
for, or otherwise assists any other Person in activities that are competitive with the MercadoLibre Business anywhere in the Territory,

 

he or she will automatically forfeit any and all benefits received
under the Plan and any and all benefits which the Participant may otherwise be entitled to receive under the Plan. If the Participant
terminates employment with the Company for any reason (with or without Cause) and he or she alone (or in association with any other
Person) takes any of the action set forth in subparagraph (1), (2) or (3) above, the Participant will be required to immediately,
and in no event more than five (5) days following the termination of the Participant’s employment, return all amounts which
the Participant has received under the terms of the Plan (the “Recovery Amount”), and the Participant and the Company
hereby agree to the following, notwithstanding any Plan provision to the contrary:

 

		(i)	that the Company may withhold all or a portion of the Recovery Amount from any salary, wages
or other amounts due to the Participant from the Company; and

 

		(ii)	in addition to the Recovery Amount, the Company may also recover any fees incurred by the
Company in seeking to collect the Recovery Amount, including, but not limited to, the Company’s reasonable attorneys’
fees.

 

    9

     

    

 

Notwithstanding the foregoing, ownership of less than five percent
(5%) of the outstanding capital stock of any Person whose securities are registered under the Securities Exchange Act of 1934,
as amended, in and of itself shall not be cause for automatic forfeiture under Article 5(b)(3), whether or not the subject Person
is competitive with the Company.

 

(b)              
Except as provided in Article 4 with respect to a Covered Termination within one hundred and twenty (120) days before a Change
in Control or a Covered Termination on or after a Change in Control, the portion of any Award under this Plan that has not been
actually paid to the Participant prior to the date of such resignation or other termination of employment shall be forfeited, except
that the Award Committee, in its discretion, may pay all or part of the amount that remains payable under an Award upon the disability
or death of the Participant in accordance with such rules or procedures established by the Award Committee provided, however, that
any amount of the Award payment that the Award Committee determines to pay shall be paid no later than March 15 of the year
following the year that the Participant’s employment ends on account of disability or death. Notwithstanding any provision
of the Plan to the contrary, any Award paid to the Participant shall be subject to recovery by the Company in the event that the
Participant is terminated for Cause and shall, to the extent permitted by law, be subject to recovery from any amounts owed by
the Company to the Participant, including, but not limited to, offsetting any amounts owed under the Plan to the Company against
any amounts otherwise owed to the Participant by the Company.

 

(c)              
If the Award Committee decides to pay all or part of an Award after the death of a Participant in accordance with this Article
5, the Participant may designate in writing one or more persons (“beneficiary”) to receive any unpaid portion of the
Participant’s Award upon the death of the Participant. By similar action, the Participant may designate a change of beneficiary
at any time, which change shall be effective only upon receipt by the Award Committee of said notice. The last such designation
form filed with the Award Committee prior to the Participant’s death shall control. The Award Committee may establish a form
or other requirements for such designation. If the Participant designates his spouse as a beneficiary, the divorce of Participant
shall automatically revoke that designation of his spouse as beneficiary except to the extent otherwise provided in a subsequent
beneficiary designation filed by the Participant with the Award Committee. In the absence of a written designation, or in the event
the Participant dies without a beneficiary surviving him, any amount which would otherwise be payable on account of his death shall
be paid to the surviving spouse of the Participant or if none, to the Participant’s estate. A beneficiary of a Participant
shall have no interest or rights hereunder during the lifetime of the Participant.

 

Article 3.                
Administrative Provisions

 

(a)                                
The Plan was approved by the Board on May 5, 2021 to be effective as of January 1, 2021 for all services provided by Participants
in 2021.

 

(b)                                
Unless the Board provides otherwise, the Plan shall be administered and interpreted by the Award Committee, which has been provided
absolute authority hereunder to administer the Plan, subject to the limitation on the authority of the Chief Executive Officer
set forth in the definition of Award Committee above. The Board and its members, the members of the Award Committee and any other
individual who may, from time to time, have been delegated responsibility with respect to the administration of this Plan (collectively,
“Authorized Persons”), shall have the full authority, discretion and power necessary or desirable to administer and
interpret this Plan, in accordance with the Plan terms. Benefits under the Plan shall be payable only if the Authorized Persons
in their respective sole and absolute discretion determine that any such benefits are properly payable under the Plan. Without
in any way limiting the foregoing, all Authorized Persons shall have complete authority, sole discretion and power to: (i) determine
the Participants; (ii) determine the amount of the Award for each Participant; (iii) interpret the provisions of this Plan and
any other documentation used in connection with this Plan, including documentation specifying individual Awards and the like; (iv)
establish and interpret rules, regulations and procedures (written or by practice) for the administration of the Plan; (v) determine
which entity is responsible for making Award payments; (vi) determine the effect, if any, the transfer of a Participant’s
service location from one jurisdiction to another will have on an outstanding Award; and (vii) make all other determinations and
take all other actions necessary or desirable for the administration or interpretation of this Plan. The express grant in the Plan
of any specific power to Authorized Persons shall not be construed as limiting any power or authority of such Authorized Person.
All actions, decisions and interpretations of the Authorized Persons shall be final, conclusive and binding on all parties. All
expenses of administering the Plan shall be borne by the Company.

 

    10

     

    

 

(c)                                
Nothing in this Plan shall be deemed by implication, action or otherwise to constitute a contract of employment or otherwise to
impose any limitation on any right of the Company to terminate a Participant’s employment at any time for any or no reason.

 

(d)     
A Participant shall have no right to anticipate, alienate, sell, transfer, assign, pledge or encumber any right to receive any
Award made under the Plan, nor will any Participant have any lien on any assets of the Company by reason of any Award made under
the Plan.

 

(e)                                
The Company shall have the right to deduct or withhold, or require a Participant to remit to the Company, any taxes required by
law to be withheld from Awards made under this Plan.

 

(f)                                 
The Plan may be amended, suspended or terminated at any time and from time to time, by action of the Board or the Award Committee,
including, without limitation, by way of an amendment to eliminate Award payments during any calendar year, as determined by any
of the Authorized Persons in its sole discretion, but in any event, the Plan will be terminated no later than upon the last date
the Company pays all Participants any and all amounts that may due under the Plan and no amounts remain due and payable under the
Plan to any person as determined by Award Committee. The preceding sentence to the contrary notwithstanding, on and after a Change
in Control, no amendment, suspension or termination of the Plan that adversely affects the rights of a Participant (or the beneficiary
of a deceased Participant who has not received payment of an amount approved by the Award Committee under Article 5), shall be
effective without the written consent of that Participant or beneficiary.

 

(g)                                
The adoption of the Plan does not imply any commitment to continue to maintain the Plan, or any modified version of the Plan, or
any other plan for incentive compensation for such Participant for any period of time. Neither the adoption of this Plan, its operation,
nor any documents describing or referring to this Plan (or any part thereof) shall confer upon any employee any right to continue
in the employ of the Company or in any way affect any right and power of the Company to terminate the employment of any employee
at any time without assigning a reason therefor.

 

(h)                                
This Plan, insofar as it provides for Awards, shall be unfunded, and the Company shall not be required to segregate any assets
that may at any time be represented by Awards under the Plan. Any liability of the Company to any person with respect to any Awards
under this Plan shall be based solely upon any contractual obligations which may be created pursuant to this Plan. No such obligation
of the Company shall be deemed to be secured by any pledge of, or other encumbrance on, any property of the Company.

 

    11

     

    

 

(i)                                  
In order to be effective, any amendment of this Plan or any Award must be in writing and made by the Award Committee. No oral statement,
representation, written presentation or the like shall have the effect of amending or modifying this Plan or any Award, or otherwise
have any binding effect on the Company, the Board, the Chief Executive, the Award Committee or any individual who has been delegated
authority to administer this Plan.

 

(j)                                  
The Plan shall be construed in accordance with and governed by the substantive laws of the State of Delaware, without regard to
principles of conflicts of law.

 

(k)                                
In case any provision of the Plan shall be held illegal or void, such illegality or invalidity shall not affect the remaining provisions
of this Plan, but shall be fully severable, and the Plan shall be construed and enforced as if said illegal or invalid provisions
had never been inserted herein.

 

(l)                                  
Except for their own gross negligence or gross misconduct regarding the performance of the duties specifically assigned to them
under, or their willful breach of the terms of this Plan, the Company (and its affiliates), Board and its members, the Award Committee
and its members, and any other entity or individual administering any aspect of this Plan shall be held harmless by the Participants
and their respective representatives, heirs, successors, and assigns, against liability or losses occurring by reason of any act
or omission under the Plan.

 

(m)                              
Should the Company effect one or more stock dividends, stock splits, subdivisions or consolidations of Shares or other similar
changes in capitalization, then the terms of outstanding Awards shall be adjusted as the Award Committee shall determine to be
equitably required. Any determination made under this Article 6(m) by the Award Committee shall be final and conclusive. The issuance
by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, for cash or property,
or for labor or services, either upon direct sale or upon the exercise of rights or warrants to subscribe therefor, or upon conversion
of shares or obligations of the Company convertible into such shares or other securities, shall not affect, and no adjustment by
reason thereof shall be made with respect to, Awards.

 

 

Executed on the 5 day of May, 2021 to be effective as of the 1st
day of January, 2021.

 

	 	MercadoLibre, Inc.

                            

                            

                            

                           By: ____________________________

 

 

 

12

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