Document:

Exhibit
10.1

 

EXECUTION
VERSION

 

SUBSCRIPTION
AGREEMENT

 

This
SUBSCRIPTION AGREEMENT (this “Subscription Agreement”) is entered into on December 29, 2020, by and between
FinTech Acquisition Corp. IV, a Delaware corporation (the “Issuer”), and the subscriber party set forth on
the signature page hereto (“Subscriber”).

 

WHEREAS,
the Issuer is concurrently with the execution and delivery hereof entering into a Business Combination Agreement (as amended or
modified from time to time, the “Transaction Agreement”), by and among the Issuer, FinTech Investor Holdings
IV, LLC, FinTech Masala Advisors, LLC, PWP Holdings LP, a New York limited partnership (“PWP”), PWP GP LLC,
a Delaware limited liability company and the general partner of PWP, PWP Professional Partners, LP, a Delaware limited partnership
(“PWP Professionals”), and Perella Weinberg Partners LLC, a Delaware limited liability company and the general
partner of PWP Professionals, whereby the parties intend to effect the DeSPAC Transaction Steps set forth on Schedule B to the
Transaction Agreement, on the terms and subject to the conditions set forth therein (the “Transactions”);

 

WHEREAS,
in connection with the Transactions, Subscriber desires to subscribe for and purchase from the Issuer that number of shares of
the Issuer’s Class A common stock, par value $0.0001 per share (the “Class A Shares”), as set
forth on the signature page hereto (the “Acquired Shares”) for a purchase price of $10.00 per share (the “Per
Share Price”) and an aggregate purchase price set forth on the signature page hereto (the “Purchase Price”),
and the Issuer desires to issue and sell to Subscriber the Acquired Shares in consideration of the payment of the Purchase Price
by or on behalf of Subscriber to the Issuer on or prior to the Closing (as defined below);

 

WHEREAS,
the Issuer and Subscriber are executing and delivering this Subscription Agreement in reliance upon the exemption from securities
registration afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”);

 

WHEREAS,
in connection with the Transactions, certain other “qualified institutional buyers” (as defined in Rule 144A under
the Securities Act) or institutional “accredited investors” (as such term is defined in Rule 501 under the Securities
Act) (the “Other Subscribers”), have (severally and not jointly) entered into separate subscription agreements
with the Issuer (the “Other Subscription Agreements”), pursuant to which such investors have agreed to purchase
Class A Shares on the Closing Date (as defined below) at the Per Share Price; and

 

WHEREAS,
the aggregate amount of Class A Shares to be sold by Issuer pursuant to this Subscription Agreement and the Other Subscription
Agreements equals 12,500,000 Class A Shares.

 

NOW,
THEREFORE, in consideration of the foregoing and the mutual representations, warranties and covenants, and subject to the conditions,
herein contained, and intending to be legally bound hereby, the parties hereto hereby agree as follows:

 

1. 
Subscription. Subject to the terms and conditions hereof, Subscriber hereby agrees to subscribe for and purchase, and the
Issuer hereby agrees to issue and sell to Subscriber, upon the payment of the Purchase Price, the Acquired Shares (such subscription
and issuance, the “Subscription”). 

 

     

     

    

 

2. 
Closing.

 

a. 
The closing of the Subscription contemplated hereby (the “Closing”) is contingent upon the substantially concurrent
consummation of the Transactions and shall occur immediately prior thereto. Not less than three (3) business days prior to
the scheduled closing date of the Transactions (the “Closing Date”), the Issuer shall provide written notice
to Subscriber (the “Closing Notice”) of such Closing Date. Subscriber shall deliver to the Issuer no later
than one (1) business day before the Closing Date (as specified in the Closing Notice) or such other date as otherwise agreed
to by the Issuer and the Subscriber, the “Purchase Price Payment Date”) the Purchase Price for the Acquired
Shares by wire transfer of U.S. dollars in immediately available funds (i) to the account specified by the Issuer in the Closing
Notice, to be held in a third-party escrow account (the “Escrow Account”) designated by the Issuer prior to
the Closing Date for the benefit of the Subscriber until the Closing Date or (ii) to an account specified by the Issuer otherwise
mutually agreed by the Subscriber and the Issuer (“Alternative Settlement Procedures”). On the Closing Date,
the Issuer shall deliver to Subscriber (1) the Acquired Shares in book entry form (or, if requested by the Subscriber in
writing at a reasonable time in advance of the Closing, certificated), free and clear of any liens or other restrictions whatsoever
(other than those set forth in this Subscription Agreement or arising under state or federal securities laws), in the name of
Subscriber (or its nominee in accordance with its delivery instructions) or to a custodian designated by Subscriber, as applicable,
and (2) a copy of the records of the Issuer’s transfer agent (the “Transfer Agent”) showing Subscriber
as the owner of the Acquired Shares on and as of the Closing Date (the “Subscriber’s Deliveries”). Unless
otherwise provided pursuant to Alternative Settlement Procedures, upon the transfer of the Subscriber’s Deliveries by the
Issuer to the Subscriber, (or its nominee in accordance with its delivery instructions) the Issuer shall, or shall cause the escrow
agent for the Escrow Account to, release the Purchase Price from the Escrow Account to the Issuer. In the event the closing of
the Transactions does not occur within two (2) business days of the Closing Date specified in the Closing Notice, unless otherwise
instructed by the Issuer and the Subscriber, the Issuer shall, or shall cause the escrow agent for the Escrow Account to, promptly
(but not later than one (1) business day thereafter) return the Purchase Price to Subscriber by wire transfer of U.S. dollars
in immediately available funds to the account specified by Subscriber, and any book entries or share certificates shall be deemed
cancelled.

  

b. 
The Closing shall be subject to the conditions that, on the Closing Date:

 

(i) 
solely with respect to Subscriber, the representations and warranties made by the Issuer (other than the representations and warranties
set forth in Section 3(b), Section 3(c) and Section 3(m)) in this Subscription Agreement shall be true and correct
in all material respects as of the Closing Date (other than those representations and warranties expressly made as of an earlier
date, which shall be true and correct in all material respects as of such date, and other than those representations and warranties
that are qualified as to materiality or Material Adverse Effect (as defined below), which shall be true and correct in all respects
as of the Closing Date), and the representations and warranties made by the Issuer set forth in Section 3(b), Section
3(c) and Section 3(m) shall be true and correct in all respects as of the Closing Date, in each case without giving effect
to the consummation of the Transactions;

 

(ii) 
solely with respect to the Issuer, the representations and warranties made by the Subscriber in this Subscription Agreement shall
be true and correct in all material respects as of the Closing Date (other than those representations and warranties expressly
made as of an earlier date, which shall be true and correct in all material respects as of such date, and other than those representations
and warranties that are qualified as to materiality or Material Adverse Effect, which shall be true and correct in all respects
as of the Closing Date), in each case without giving effect to the consummation of the Transactions;

 

(iii) 
solely with respect to Subscriber, the Issuer shall have performed, satisfied and complied in all material respects with all covenants,
agreements and conditions required by this Subscription Agreement to be performed, satisfied or complied with by it at or prior
to the Closing, except where the failure of such performance or compliance would not or would not reasonably be expected to prevent,
materially delay, or materially impair the ability of the Issuer to consummate the Closing;

 

(iv) 
solely with respect to the Issuer, Subscriber shall have delivered the Purchase Price in compliance with the terms of this Subscription
Agreement;

 

 

(v) no
governmental authority shall have issued, enforced or entered any judgment or order, which is then in effect and has the effect
of making the consummation of the transactions contemplated hereby illegal or otherwise restraining or prohibiting consummation
of the transactions contemplated hereby;

 

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(vi) 
the Acquired Shares shall have been approved for listing on the Nasdaq Capital Market (“Nasdaq”), subject to
official notice of issuance; and

  

 

(viii) 
all conditions precedent to the closing of the Transactions set forth in the Transaction Agreement, including all necessary approvals
of the Issuer’s stockholders and regulatory approvals, if any, shall have been satisfied or waived (other than those conditions
that may only be satisfied at the closing of the Transactions), and the consummation of the Transactions shall occur substantially
on the terms provided in the Transaction Agreement substantially concurrently with the Closing.

 

c. 
At or prior to the Closing, the parties hereto shall execute and deliver such additional documents and take such additional actions
as the parties reasonably may deem necessary in order to consummate the Subscription as contemplated by this Subscription Agreement.

 

3. 
Issuer Representations and Warranties. The Issuer represents and warrants that:

 

a. The
Issuer has been duly incorporated and is validly existing as a corporation in good standing under the laws of the State of Delaware,
with corporate power and authority to own, lease and operate its properties and conduct its business as presently conducted and
to enter into, deliver and perform its obligations under this Subscription Agreement.

 

b. The
Acquired Shares have been duly authorized and, when issued and delivered to Subscriber against full payment for the Acquired Shares
in accordance with the terms of this Subscription Agreement and registered with the Transfer Agent, the Acquired Shares will be
validly issued, fully paid and non-assessable and will not have been issued in violation of or subject to any preemptive or similar
rights created under the Issuer’s certificate of incorporation and bylaws or under the laws of the State of Delaware.

 

c. This
Subscription Agreement has been duly authorized, executed and delivered by the Issuer and, assuming that this Subscription Agreement
constitutes the valid and binding agreement of the Subscriber, is a valid and binding obligation of the Issuer, and is enforceable
against it in accordance with its terms, except as may be limited or otherwise affected by (i) bankruptcy, insolvency, reorganization,
fraudulent conveyance, moratorium or other laws relating to or affecting the rights of creditors generally, and (ii) principles
of equity, whether considered at law or equity.

 

d. The
execution, delivery and performance of this Subscription Agreement, including the issuance and sale of the Acquired Shares and
the consummation of the other transactions contemplated hereby, will not conflict with or result in a breach or violation of any
of the terms or provisions of, or constitute a default under, or result in the creation or imposition of any lien, charge or encumbrance
upon any of the property or assets of the Issuer pursuant to the terms of (i) any indenture, mortgage, deed of trust, loan
agreement, lease, license or other agreement or instrument to which the Issuer is a party or by which the Issuer is bound or to
which any of the property or assets of the Issuer is subject; (ii) the organizational documents of the Issuer; or (iii) any
statute or any judgment, order, rule or regulation of any court or governmental agency, taxing authority or regulatory body, domestic
or foreign, having jurisdiction over the Issuer or any of its properties that, in the case of clauses (i) and (iii), would reasonably
be expected to have a material adverse effect on the business, properties, assets, liabilities, operations, condition (including
financial condition), stockholders’ equity or results of operations of the Issuer or materially and adversely affect the
validity of the Acquired Shares or the legal authority or ability of the Issuer to perform in any material respects its obligations
hereunder (a “Material Adverse Effect”).

 

e. There
are no securities or instruments issued by or to which the Issuer is a party containing anti-dilution or similar provisions that
will be triggered by the issuance of (i) the Acquired Shares or (ii) the shares to be issued pursuant to any Other Subscription
Agreement, that have not been or will not be validly waived on or prior to the Closing Date, including such provisions in the
Issuer’s Class B common stock, par value $0.0001 per share (the “Class B Shares”), pursuant to the
terms of the Issuer’s certificate of incorporation.

 

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f. The
Issuer is not in default or violation (and no event has occurred which, with notice or the lapse of time or both, would constitute
a default or violation) of any term, condition or provision of (i) the organizational documents of the Issuer, (ii) any
loan or credit agreement, guarantee, note, bond, mortgage, indenture, lease or other agreement, permit, franchise or license to
which, as of the date of this Subscription Agreement, the Issuer is a party or by which the Issuer’s properties or assets
are bound or (iii) any statute or any judgment, order, rule or regulation of any court or governmental agency, taxing authority
or regulatory body, domestic or foreign, having jurisdiction over the Issuer or any of its properties, except, in the case of
clauses (ii) and (iii), for defaults or violations that have not had and would not be reasonably likely to have, individually
or in the aggregate, a Material Adverse Effect.

 

g. The
Issuer is not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or registration
with, any court or other federal, state, local or other governmental authority, self-regulatory organization or other person in
connection with the execution, delivery and performance by the Issuer of this Subscription Agreement (including, without limitation,
the issuance of the Acquired Shares), other than (i) the filing with the Securities and Exchange Commission (the “Commission”)
of the Registration Statement (as defined below), (ii) filings required by applicable state securities laws, (iii) the filings
required in accordance with Section 9(r) of this Subscription Agreement; (v) those required by Nasdaq, including
with respect to obtaining approval of the Issuer’s stockholders; (vi) those that will be obtained on or prior to the Closing
and (vi) any filing, the failure of which to obtain would not be reasonably likely to have, individually or in the aggregate,
a Material Adverse Effect.

 

h. As
of the date of this Subscription Agreement and as of immediately prior to the Closing Date, the authorized capital stock of the
Issuer consists of (i) 1,000,000 shares of preferred stock, par value $0.0001 per share (“Preferred Stock”)
and (ii) 110,000,000 shares of common stock, par value $0.0001 per share (the “Common Stock”), including (1)
100,000,000 Class A Shares and (2) 10,000,000 Class B Shares. As of the date of this Subscription Agreement, (i) no shares
of Preferred Stock are issued and outstanding, (ii) 23,610,000 Class A Shares are issued and outstanding, (iii) 7,860,000
Class B Shares are issued and outstanding and (iv) 7,666,666 redeemable warrants and 203,333 private placement warrants are
outstanding. All (i) issued and outstanding Class A Shares and Class B Shares have been duly authorized and validly issued, are
fully paid and are non-assessable and are not subject to preemptive rights and (ii) outstanding warrants have been duly authorized
and validly issued, are fully paid and are not subject to preemptive rights. Except as set forth above and pursuant to the Other
Subscription Agreements and the Transaction Agreement, there are no outstanding options, warrants or other rights to subscribe
for, purchase or acquire from the Issuer any shares of Common Stock or other equity interests in the Issuer, or securities convertible
into or exchangeable or exercisable for such equity interests. As of the date hereof, the Issuer has no subsidiaries and does
not own, directly or indirectly, interests or investments (whether equity or debt) in any person, whether incorporated or unincorporated.
Except as disclosed in the SEC Documents, as of September 30, 2020, the Issuer had no outstanding indebtedness and will not have
any outstanding long-term indebtedness as of the Closing Date.

 

i. The
Issuer has not received any written communication from a governmental entity that alleges that the Issuer is not in compliance
with or is in default or violation of any applicable law, except where such non-compliance, default or violation would not, individually
or in the aggregate, be reasonably likely to have a Material Adverse Effect.

 

j. The
issued and outstanding Class A Shares are registered pursuant to Section 12(b) of the Securities Exchange Act of 1934,
as amended (the “Exchange Act”), and are listed for trading on Nasdaq under the symbol “FTIV.”
There is no suit, action, proceeding or investigation pending or, to the knowledge of the Issuer, threatened against the Issuer
by Nasdaq or the Commission with respect to any intention by such entity to deregister the Class A Shares or prohibit or terminate
the listing of the Class A Shares on Nasdaq, excluding, for the purposes of clarity, the customary ongoing review by Nasdaq
of the Issuer's continued listing application in connection with the Transactions. The Issuer has taken no action that is designed
to terminate the registration of the Class A Shares under the Exchange Act or the listing of the Class A Shares on Nasdaq.

 

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k. Assuming
the accuracy of Subscriber’s representations and warranties set forth in Section 4 of this Subscription Agreement,
no registration under the Securities Act is required for the offer and sale of the Acquired Shares by the Issuer to Subscriber
in the manner contemplated by this Subscription Agreement. Except as provided in this Subscription Agreement and the Other Subscription
Agreements, none of the Issuer, its subsidiaries or any of their affiliates, nor any person acting on their behalf has, directly
or indirectly, made any offers or sales of any security or solicited any offers to buy any security, under circumstances that
would require registration of the issuance of any of the Acquired Shares under the Securities Act, whether through integration
with prior offerings pursuant to Rule 502(a) of the Securities Act or otherwise.

 

l. Neither
the Issuer, nor any person acting on its behalf has engaged or will engage in any form of general solicitation or general advertising
(within the meaning of Regulation D of the Securities Act) in connection with any offer or sale of the Acquired Shares.

 

m. The
Other Subscription Agreements reflect the same Per Share Price and other terms with respect to the purchase of the Acquired Shares
that are no more favorable to such subscriber thereunder than the terms of this Subscription Agreement, other than any Alternative
Settlement Procedures and terms particular to the regulatory requirements of such subscriber or its affiliates or related funds;
provided, however, that Subscriber acknowledges that the subscription agreement entered into with Cohen & Company, LLC or
its affiliate provides that Cohen & Company, LLC or its affiliate may increase the number of Acquired Shares to be purchased
under such agreement at any time prior to Closing.

 

n. The
Issuer has made available to Subscriber (availability via the Commission’s EDGAR system or any successor system being sufficient)
a true, correct and complete copy of each form, report, statement, schedule, prospectus, proxy, registration statement and other
document filed by the Issuer with the Commission prior to the date of this Subscription Agreement (the “SEC Documents”)
and such SEC Documents complied in all material respects with the requirements of the Exchange Act and the rules and regulations
of the Commission promulgated thereunder. None of the SEC Documents filed under the Exchange Act contained, when filed and as
amended to the date hereof, any untrue statement of a material fact or omitted to state a material fact required to be stated
therein or necessary in order to make the statements made therein, in the light of the circumstances under which they were made,
not misleading, and such SEC Documents complied in all material respects with the requirements of the Exchange Act and the rules
and regulations of the Commission promulgated thereunder. The Issuer has timely filed each report, statement, schedule, prospectus,
and registration statement that the Issuer was required to file with the Commission since its inception. There are no material
outstanding or unresolved comments in comment letters from the Commission Staff with respect to any of the SEC Documents. Each
of the financial statements (including, in each case, any notes thereto) contained in the SEC Documents was prepared in accordance
with U.S. generally accepted accounting principles applied on a consistent basis throughout the periods indicated (except as may
be indicated in the notes thereto or, in the case of unaudited statements, as permitted by Form 10-Q of the Commission) and each
fairly presents, in all material respects, the financial position, results of operations and cash flows of the Issuer as at the
respective dates thereof and for the respective periods indicated therein.

 

o. Except
for such matters as have not had and would not be reasonably likely to have, individually or in the aggregate, a Material Adverse
Effect, there is no (i) action, suit, claim or other proceeding, in each case by or before any governmental authority pending,
or, to the knowledge of the Issuer, threatened against the Issuer or (ii) judgment, decree, injunction, ruling or order of
any governmental entity outstanding against the Issuer.

 

p. Except
for placement fees payable to the Placement Agents (as defined herein), the Issuer has not paid, and is not obligated to pay,
any brokerage, finder’s or other fee or commission in connection with its issuance and sale of the Acquired Shares, including,
for the avoidance of doubt, any fee or commission payable to any stockholder or affiliate of the Issuer.

 

q. The
Issuer represents and warrants that each of the Issuer and any of its directors and officers and, to the Issuer’s knowledge,
PWP, any of PWP’s directors and officers and any of the Issuer’s and PWP’s respective employees, representatives,
agents and any person acting on its or their behalf is not (i) a person or entity named on the List of Specially Designated Nationals
and Blocked Persons, the Executive Order 13599 List, the Foreign Sanctions Evaders List, or the Sectoral Sanctions Identification
List, each of which is administered by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”),
or any other Executive Order issued by the President of the United States and administered by OFAC (collectively “OFAC Lists”),
(ii) owned or controlled by, or acting on behalf of, a person, that is named on an OFAC List; (iii) organized, incorporated, established,
located, resident or born in, or a citizen, national, or the government, including any political subdivision, agency, or instrumentality
thereof, of, Cuba, Iran, North Korea, Syria, the Crimea region of Ukraine, or any other country or territory embargoed or subject
to substantial trade restrictions by the United States or (iv) a Designated National as defined in the Cuban Assets Control Regulations,
31 C.F.R. Part 515.

 

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r. The
Issuer represents and warrants that (i) each of the Issuer any of its directors and officers and, to the Issuer’s knowledge,
PWP, any of PWP’s directors and officers and any of the Issuer’s and PWP’s respective employees, representatives,
agents and any person acting on its or their behalf has not engaged in any activity or conduct which would violate any applicable
anti-bribery, anti-corruption or anti-money laundering laws, regulations or rules in any applicable jurisdiction (including, without
limitation, the U.S. Foreign Corrupt Practices Act of 1977, as amended), (ii) the Issuer and, to the Issuer’s knowledge,
PWP has instituted and maintains systems, policies and procedures designed to prevent violation of such laws, regulations and
rules and (iii) no action, suit or proceeding by or before any court or governmental or regulatory agency, authority or body or
any arbitrator having jurisdiction over the Issuer or, to the Issuer’s knowledge, PWP with respect to such laws, regulations
and rules is pending and, to the Issuer’s knowledge, no such actions, suits or proceedings are threatened or contemplated.

 

4. 
Subscriber Representations and Warranties. Subscriber represents and warrants that:

 

a. If
Subscriber is not an individual, Subscriber has been duly formed or incorporated and is validly existing in good standing under
the laws of its jurisdiction of incorporation or formation, with power and authority to enter into, deliver and perform its obligations
under this Subscription Agreement. If Subscriber is an individual, Subscriber has the authority to enter into, deliver and perform
its obligations under this Subscription Agreement.

 

b. This
Subscription Agreement has been duly authorized, executed and delivered by Subscriber and, assuming that this Subscription Agreement
constitutes the valid and binding agreement of the Issuer, this Subscription Agreement is the valid and binding obligation of
Subscriber, enforceable against Subscriber in accordance with its terms, except as may be limited or otherwise affected by (i) bankruptcy,
insolvency, reorganization, fraudulent conveyance, moratorium or other laws relating to or affecting the rights of creditors generally,
and (ii) principles of equity, whether considered at law or equity.

 

c. The
execution, delivery and performance by Subscriber of this Subscription Agreement, including the consummation of the transactions
contemplated hereby will not conflict with or result in a breach or violation of any of the terms or provisions of, or constitute
a default under, or result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets
of Subscriber or any of its subsidiaries pursuant to the terms of (i) any indenture, mortgage, deed of trust, loan agreement,
lease, license or other agreement or instrument to which Subscriber or any of its subsidiaries is a party or by which Subscriber
or any of its subsidiaries is bound or to which any of the property or assets of Subscriber or any of its subsidiaries is subject;
(ii) Subscriber’s organizational documents or under any law, rule, regulation, agreement or other obligation by which
Subscriber is bound; (iii) any statute or any judgment, order, rule or regulation of any court or governmental agency or
body, domestic or foreign, having jurisdiction over Subscriber or any of its subsidiaries or any of their respective properties,
that, in the case of clauses (i) and (iii), would reasonably be expected to have a material adverse effect on the legal authority
or ability of Subscriber to perform in any material respects its obligations hereunder.

 

d. Subscriber
(i) is a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act) or an institutional
“accredited investor” (within the meaning of Rule 501(a) under the Securities Act) satisfying the applicable requirements
set forth on Schedule A, (ii) is an “institutional account” (as defined in FINRA Rule 4512(c)), (iii) is
acquiring the Acquired Shares only for its own account and not for the account of others, or if Subscriber is a “qualified
institutional buyer” and is subscribing for the Acquired Shares as a fiduciary or agent for one or more investor accounts,
each owner of such account is a “qualified institutional buyer” and Subscriber has full investment discretion with
respect to each such account, and the full power and authority to make the acknowledgements, representations and agreements herein
on behalf of each owner of each such account, and (iv) is not acquiring the Acquired Shares with a view to, or for offer
or sale in connection with, any distribution thereof in violation of the Securities Act or any other securities laws of the United
States or any other jurisdiction (and shall provide the requested information on Schedule A following the signature page
hereto). Subscriber is not an entity formed for the specific purpose of acquiring the Acquired Shares, unless such newly formed
entity is an entity in which all of the equity owners are “accredited investors” (within the meaning of Rule 501(a)
under the Securities Act).

 

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e. Subscriber
understands that the Acquired Shares are being offered in a transaction not involving any public offering within the meaning of
the Securities Act and that the Acquired Shares have not been registered under the Securities Act or any other securities laws
of the United States or any other jurisdiction. Subscriber understands that the Acquired Shares may not be resold, transferred,
pledged or otherwise disposed of by Subscriber absent an effective registration statement under the Securities Act, except (i) to
the Issuer or a subsidiary thereof, (ii) to non-U.S. persons pursuant to offers and sales that occur in an “offshore
transaction” within the meaning of Regulation S under the Securities Act, (iii) pursuant to Rule 144 under the Securities
Act, provided that all of the applicable conditions thereof (including those set out in Rule 144(i) which are applicable to the
Issuer) have been met or (iv) pursuant to another applicable exemption from the registration requirements of the Securities
Act, and that any certificates or book-entry records representing the Acquired Shares shall contain a legend to such effect. Subscriber
acknowledges that the Acquired Shares will not be eligible for resale pursuant to Rule 144A promulgated under the Securities Act.
Subscriber understands and agrees that due to the foregoing restrictions, Subscriber may not be able to readily resell the Acquired
Shares and may be required to bear the financial risk of an investment in the Acquired Shares for an indefinite period of time.
Subscriber understands that it has been advised to consult legal counsel prior to making any offer, resale, pledge or transfer
of any of the Acquired Shares.

 

f. Subscriber
understands and agrees that Subscriber is purchasing the Acquired Shares directly from the Issuer. Subscriber further acknowledges
that there have been no representations, warranties, covenants and agreements made to Subscriber by the Issuer or any of its officers,
directors or representatives, expressly or by implication, other than those representations, warranties, covenants and agreements
included in this Subscription Agreement.

 

g. Subscriber
represents and warrants that its acquisition and holding of the Acquired Shares will not constitute or result in a non-exempt
prohibited transaction under section 406 of the Employee Retirement Income Security Act of 1974, as amended, section 4975 of the
Internal Revenue Code of 1986, as amended (the “Code”), or any applicable similar law.

 

h. In
making its decision to purchase the Acquired Shares, Subscriber represents that it has conducted and completed its own independent
due diligence and has independently made its own analysis and decision with respect to the Subscription. Subscriber further represents
that, except for the representations, warranties, covenants and agreements made by Issuer herein, it is relying exclusively on
its own sources of information, investment analysis and due diligence (including professional advice Subscriber deems appropriate)
with respect to the Subscription, the Acquired Shares and the business, condition (financial and otherwise), management, operations,
properties and prospects of the Issuer, including but not limited to all business, legal, regulatory, accounting, credit and tax
matters. Subscriber acknowledges and agrees that it has received, reviewed and understood the offering materials made available
to it in connection with the Subscription and such other information as Subscriber deems necessary in order to make an investment
decision with respect to the Acquired Shares, including with respect to the Issuer, PWP and the Transactions. Subscriber represents
and agrees that Subscriber and Subscriber’s professional advisor(s), if any, have had the full opportunity to ask such questions,
receive such answers and obtain such information from the Issuer directly as Subscriber and such Subscriber’s professional
advisor(s), if any, have deemed necessary to make an investment decision with respect to the Acquired Shares. Subscriber acknowledges
and agrees that it has not relied on any statements or other information provided by the Placement Agents or any of the affiliates
thereof with respect to the Transactions, the Issuer, PWP or its decision to purchase the Acquired Shares other than the representations,
warranties, covenants and agreements made by Issuer herein. Subscriber further acknowledges that the information provided to the
Subscriber (other than the information reflected in the representations and warranties made herein) is preliminary and subject
to change, and that any changes to such information following the date hereof, including, without limitation, any changes based
on updated information, shall in no way affect the Subscriber’s obligation to purchase the Acquired Shares hereunder.

 

i. Subscriber
became aware of this offering of the Acquired Shares solely by means of direct contact between Subscriber and the Issuer or by
means of contact from Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, each acting as placement agent for the Issuer
(collectively, the “Placement Agents”), and the Acquired Shares were offered to Subscriber solely by direct
contact between Subscriber and the Issuer or by contact between Subscriber and one or more Placement Agents. Subscriber did not
become aware of this offering of the Acquired Shares, nor were the Acquired Shares offered to Subscriber, by any other means.
Subscriber acknowledges that the Issuer represents and warrants that the Acquired Shares were not offered by any form of general
advertising or, to its knowledge, general solicitation.

 

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j. Subscriber
acknowledges and agrees that (a) the Placement Agents are acting solely as placement agents in connection with the Subscription
and are not acting as underwriters or in any other capacity and are not and shall not be construed as a fiduciary for Subscriber,
the Issuer or any other person or entity in connection with the Subscription, (b) the Placement Agents have not made and will
not make any representation or warranty, whether express or implied, of any kind or character and have not provided any advice
or recommendation in connection with the Subscription, (c) the Placement Agents will have no responsibility with respect to (i)
any representations, warranties or agreements made by any person or entity under or in connection with the Subscription or any
of the documents furnished pursuant thereto or in connection therewith, or the execution, legality, validity or enforceability
(with respect to any person) thereof, or (ii) the business, affairs, financial condition, operations, properties or prospects
of, or any other matter concerning the Issuer or the Subscription, and (d) the Placement Agents shall have no liability or obligation
(including without limitation, for or with respect to any losses, claims, damages, obligations, penalties, judgments, awards,
liabilities, costs, expenses or disbursements incurred by Subscriber, the Issuer or any other person or entity), whether in contract,
tort or otherwise, to Subscriber, or to any person claiming through Subscriber, in respect of the Subscription.

 

k. Subscriber
acknowledges that it is aware that there are substantial risks incident to the purchase and ownership of the Acquired Shares,
including those set forth in the SEC Documents. Subscriber qualifies as a sophisticated institutional investor and has such knowledge
and experience in financial, business and private equity matters as to be capable of evaluating the merits and risks of an investment,
both in general and with regard to all transactions and investment strategies involving a security or securities, including Subscriber’s
investment in the Acquired Shares, and Subscriber has sought such accounting, legal and tax advice as Subscriber has considered
necessary to make an informed investment decision.

 

l. Subscriber
represents and acknowledges that Subscriber, alone, or together with any professional advisor(s), has adequately analyzed and
fully considered the risks of an investment in the Acquired Shares and determined that the Acquired Shares are a suitable investment
for Subscriber and that Subscriber is able at this time and in the foreseeable future to bear the economic risk of a total loss
of Subscriber’s investment in the Issuer. Subscriber acknowledges specifically that a possibility of total loss exists.

 

m. Subscriber
understands and agrees that no federal or state agency has passed upon or endorsed the merits of the offering of the Acquired
Shares or made any findings or determination as to the fairness of this investment.

 

n. Subscriber
is not (i) a person or entity named on the List of Specially Designated Nationals and Blocked Persons administered by the
U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) or in any Executive Order issued
by the President of the United States and administered by OFAC (“OFAC List”), (ii) owned or controlled by,
or acting on behalf of, a person, that is named on an OFAC List; (iii) organized, incorporated, established, located, resident
or born in, or a citizen, national, or the government, including any political subdivision, agency, or instrumentality thereof,
of, Cuba, Iran, North Korea, Syria, the Crimea region of Ukraine, or any other country or territory embargoed or subject to substantial
trade restrictions by the United States, (iv) a Designated National as defined in the Cuban Assets Control Regulations, 31
C.F.R. Part 515, or (v) a non-U.S. shell bank or providing banking services indirectly to a non-U.S. shell bank. Subscriber
agrees to provide law enforcement agencies, if requested thereby, such records as required by applicable law, provided that Subscriber
is permitted to do so under applicable law. Subscriber represents that if it is a financial institution subject to the Bank Secrecy
Act (31 U.S.C. section 5311 et seq.) (the “BSA”), as amended by the USA PATRIOT Act of 2001 (the “PATRIOT
Act”), and its implementing regulations (collectively, the “BSA/PATRIOT Act”), Subscriber maintains
policies and procedures reasonably designed to comply with applicable obligations under the BSA/PATRIOT Act. Subscriber also represents
that, to the extent required, it maintains policies and procedures reasonably designed to ensure compliance with OFAC-administered
sanctions programs, including for the screening of its investors against the OFAC List. Subscriber further represents and warrants
that, to the extent required, it maintains policies and procedures reasonably designed to ensure that the funds held by Subscriber
and used to purchase the Acquired Shares were legally derived.

 

    8

     

    

 

o. If
Subscriber is an employee benefit plan that is subject to Title I of the Employee Retirement Income Security Act of 1974, as amended
(“ERISA”), a plan, an individual retirement account or other arrangement that is subject to section 4975 of
the Code or an employee benefit plan that is a governmental plan (as defined in section 3(32) of ERISA), a church plan (as defined
in section 3(33) of ERISA), a non-U.S. plan (as described in section 4(b)(4) of ERISA) or other plan that is not subject to the
foregoing but may be subject to provisions under any other federal, state, local, non-U.S. or other laws or regulations that are
similar to such provisions of ERISA or the Code, or an entity whose underlying assets are considered to include “plan assets”
of any such plan, account or arrangement (each, a “Plan”) subject to the fiduciary or prohibited transaction
provisions of ERISA or section 4975 of the Code, Subscriber represents and warrants that (i) neither the Issuer, nor any
of its respective affiliates (the “Transaction Parties”) has acted as the Plan’s fiduciary, or has
been relied on for advice, with respect to its decision to acquire and hold the Acquired Shares, and none of the Transaction Parties
shall at any time be relied upon as the Plan’s fiduciary with respect to any decision to acquire, continue to hold or transfer
the Acquired Shares; (ii) the decision to invest in the Acquired Shares has been made at the recommendation or direction
of an “independent fiduciary” (“Independent Fiduciary”) within the meaning of US Code of Federal
Regulations 29 C.F.R. section 2510.3 21(c), as amended from time to time (the “Fiduciary Rule”) who is (1) independent
of the Transaction Parties; (2) is capable of evaluating investment risks independently, both in general and with respect
to particular transactions and investment strategies (within the meaning of the Fiduciary Rule); (3) is a fiduciary (under ERISA
and/or section 4975 of the Code) with respect to Subscriber’s investment in the Acquired Shares and is responsible for exercising
independent judgment in evaluating the investment in the Acquired Shares; and (4) is aware of and acknowledges that (A) none
of the Transaction Parties is undertaking to provide impartial investment advice, or to give advice in a fiduciary capacity, in
connection with the purchaser’s or transferee’s investment in the Acquired Shares, and (B) the Transaction Parties
have a financial interest in the purchaser’s investment in the Acquired Shares on account of the fees and other remuneration
they expect to receive in connection with transactions contemplated by this Subscription Agreement.

 

p. Subscriber
has, and at the Purchase Price Payment Date and the Closing will have, sufficient funds to pay the Purchase Price pursuant to
Section 2(a).

 

5. 
Registration Rights.

 

a. 
The Issuer agrees that, within thirty (30) calendar days after the Closing Date (the “Filing Date”), the Issuer
will file with the Commission (at the Issuer’s sole cost and expense) a registration statement registering the resale of
the Acquired Shares (the “Registration Statement”), and the Issuer shall use its commercially reasonable efforts
to have the Registration Statement declared effective as soon as practicable after the filing thereof, but no later than the earlier
of (i) the 50th calendar day after the filing thereof (or 90th calendar day after the Closing Date if the Commission notifies
the Issuer that it will “review” the Registration Statement) and (ii) the fifth (5th) business day
after the date the Issuer is notified (orally or in writing, whichever is earlier) by the Commission that the Registration Statement
will not be “reviewed” or will not be subject to further review (such earlier date, the “Effectiveness Date”);
provided, however, that if the Commission is closed for operations due to a government shutdown, the Effectiveness Date
shall be extended by the same amount of days that the Commission remains closed for operations, provided, further, that
the Issuer’s obligations to include the Acquired Shares in the Registration Statement are contingent upon Subscriber furnishing
in writing to the Issuer such information regarding Subscriber, the securities of the Issuer held by Subscriber, the intended
method of disposition of the Acquired Shares (which shall be limited to non-underwritten public offerings) and such other information
as shall be reasonably requested by the Issuer to effect the registration of the Acquired Shares, and Subscriber shall execute
such documents in connection with such registration as the Issuer may reasonably request that are customary of a selling stockholder
in similar situations, including providing that the Issuer shall be entitled to postpone and suspend the effectiveness or use
of the Registration Statement during any customary blackout or similar period or as permitted hereunder. Any failure by the Issuer
to file the Registration Statement by the Filing Date or to effect such Registration Statement by the Effectiveness Date shall
not otherwise relieve the Issuer of its obligations to file or effect the Registration Statement as set forth above in this Section 5.
The Issuer will provide a draft of the Registration Statement to the undersigned for review at least two (2) business days in
advance of filing the Registration Statement. In no event shall the undersigned be identified as a statutory underwriter in the
Registration Statement unless requested by the Commission. Notwithstanding the foregoing, if the Commission prevents the Issuer
from including any or all of the shares proposed to be registered under the Registration Statement due to limitations on the use
of Rule 415 of the Securities Act for the resale of the Acquired Shares by the applicable stockholders or otherwise, such Registration
Statement shall register for resale such number of Acquired Shares which is equal to the maximum number of Acquired Shares as
is permitted by the SEC. In such event, the number of Acquired Shares to be registered for each selling shareholder named in the
Registration Statement shall be reduced pro rata among all such selling shareholders. The Issuer will use its commercially reasonable
efforts to maintain the continuous effectiveness of the Registration Statement until all such securities cease to be Registrable
Securities (as defined below) or such shorter period upon which each undersigned party with Registrable Securities included in
such Registration Statement have notified the Issuer that such Registrable Securities have actually been sold. The Issuer will
provide all customary and commercially reasonable cooperation, necessary to qualify the Registrable Securities for listing on
the primary stock exchange on which its Class A Shares is then listed, update or amend the Registration Statement as necessary
to include Registrable Securities and provide customary notice to holders of Registrable Securities. “Registrable Securities”
shall mean, as of any date of determination, the Acquired Shares and any other equity security of the Issuer issued or issuable
with respect to the Acquired Shares by way of share split, dividend, distribution, recapitalization, merger, exchange, replacement
or similar event or otherwise. As to any particular Registrable Securities, once issued, such securities shall cease to be Registrable
Securities at the earliest of (A) when the undersigned ceases to hold any Registrable Securities, (B) the date all Registrable
Securities held by the undersigned may be sold without restriction under Rule 144 under the Securities Act (“Rule 144”),
including without limitation, any volume and manner of sale restrictions which may be applicable to affiliates under Rule 144,
and without the requirement for the Issuer to be in compliance with the current public information required under Rule 144(c),
(C) when they shall have ceased to be outstanding or (D) three years from the date of effectiveness of the Registration Statement.

 

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b. In
the case of the registration, qualification, exemption or compliance effected by the Issuer pursuant to this Subscription Agreement,
the Issuer shall, upon reasonable request, inform Subscriber as to the status of such registration, qualification, exemption and
compliance. At its expense the Issuer shall:

 

(i) 
except for such times as the Issuer is permitted hereunder to suspend the use of the prospectus forming part of a Registration
Statement, use its commercially reasonable efforts to keep such registration, and any qualification, exemption or compliance under
state securities laws which the Issuer determines to obtain, continuously effective with respect to Subscriber, and to keep the
applicable Registration Statement or any subsequent shelf registration statement free of any material misstatements or omissions,
for as long as Subscriber continues to hold Registrable Securities.

 

(ii) 
advise Subscriber within five (5) business days:

 

(1) 
when a Registration Statement or any amendment thereto has been filed with the Commission and when such Registration Statement
or any post-effective amendment thereto has become effective;

 

(2) 
of the issuance by the Commission of any stop order suspending the effectiveness of any Registration Statement or the initiation
of any proceedings for such purpose;

 

(3) 
of the receipt by the Issuer of any notification with respect to the suspension of the qualification of the Acquired Shares included
therein for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and

 

(4) 
subject to the provisions in this Subscription Agreement, of the occurrence of any event that requires the making of any changes
in any Registration Statement or prospectus included therein so that, as of such date, the statements therein are not misleading
and do not omit to state a material fact required to be stated therein or necessary to make the statements therein (in the case
of a prospectus, in the light of the circumstances under which they were made) not misleading.

 

Notwithstanding
anything to the contrary set forth herein, the Issuer shall not, when so advising Subscriber of such events, provide Subscriber
with any material, nonpublic information regarding the Issuer other than to the extent that providing notice to Subscriber of
the occurrence of the events listed in (1) through (4) above constitutes material, nonpublic information regarding the Issuer;

 

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(iii) 
use its commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of any Registration
Statement as soon as reasonably practicable;

 

(iv) 
upon the occurrence of any event contemplated in Section 5(b)(ii)(4), except for such times as the Issuer is permitted hereunder
to suspend, and has suspended, the use of a prospectus forming part of a Registration Statement, the Issuer shall use its commercially
reasonable efforts to as soon as reasonably practicable prepare a post-effective amendment to such Registration Statement or a
supplement to the related prospectus, or file any other required document so that, as thereafter delivered to purchasers of the
Acquired Shares included therein, such prospectus will not include any untrue statement of a material fact or omit to state any
material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading;

 

(v) 
use its commercially reasonable efforts to cause all Acquired Shares to be listed on the primary securities exchange or market,
if any, on which the Class A Shares issued by the Issuer have been listed; and

 

(vi) 
use its commercially reasonable efforts to take all other steps necessary to effect the registration of the Acquired Shares contemplated
hereby and enable Subscriber to sell the Acquired Shares under Rule 144.

 

c. 
Notwithstanding anything to the contrary in this Subscription Agreement, the Issuer shall be entitled to delay the filing or postpone
the effectiveness of the Registration Statement, and from time to time to require Subscriber not to sell under the Registration
Statement or to suspend the effectiveness thereof, if the negotiation or consummation of a transaction by the Issuer or its subsidiaries
is pending or an event has occurred, which negotiation, consummation or event the Issuer’s board of directors reasonably
believes would require additional disclosure by the Issuer in the Registration Statement of material information that the Issuer
has a bona fide business purpose for keeping confidential and the non-disclosure of which in the Registration Statement would
be expected, in the reasonable determination of the Issuer’s board of directors to cause the Registration Statement to fail
to comply with applicable disclosure requirements (each such circumstance, a “Suspension Event”); provided,
however, that the Issuer may not delay or suspend the Registration Statement on more than two occasions or for more than
sixty (60) consecutive calendar days, or more than one hundred twenty (120) total calendar days, in each case during any
twelve (12)-month period. Upon receipt of any written notice from the Issuer of the happening of any Suspension Event during the
period that the Registration Statement is effective or if as a result of a Suspension Event the Registration Statement or related
prospectus contains any untrue statement of a material fact or omits to state any material fact required to be stated therein
or necessary to make the statements therein, in light of the circumstances under which they were made (in the case of the prospectus)
not misleading, Subscriber agrees that (i) it will immediately discontinue offers and sales of the Acquired Shares under
the Registration Statement (excluding, for the avoidance of doubt, sales conducted pursuant to Rule 144) until Subscriber receives
copies of a supplemental or amended prospectus (which the Issuer agrees to promptly prepare) that corrects the misstatement(s)
or omission(s) referred to above and receives notice that any post-effective amendment has become effective or unless otherwise
notified by the Issuer that it may resume such offers and sales, and (ii) it will maintain the confidentiality of any information
included in such written notice delivered by the Issuer unless otherwise required by law or subpoena. If so directed by the Issuer,
Subscriber will deliver to the Issuer or, in Subscriber’s sole discretion destroy, all copies of the prospectus covering
the Acquired Shares in Subscriber’s possession; provided, however, that this obligation to deliver or destroy all
copies of the prospectus covering the Acquired Shares shall not apply (1) to the extent Subscriber is required to retain
a copy of such prospectus (a) in order to comply with applicable legal, regulatory, self-regulatory or professional requirements
or (b) in accordance with a bona fide pre-existing document retention policy or (2) to copies stored electronically
on archival servers as a result of automatic data back-up.

 

d. 
Subscriber may deliver written notice (an “Opt-Out Notice”) to the Issuer requesting that Subscriber not receive
notices from the Issuer otherwise required by this Section 5; provided, however, that Subscriber may
later revoke any such Opt-Out Notice in writing. Following receipt of an Opt-Out Notice from Subscriber (unless subsequently revoked),
(i) the Issuer shall not deliver any such notices to Subscriber and Subscriber shall no longer be entitled to the rights associated
with any such notice and (ii) each time prior to Subscriber’s intended use of an effective Registration Statement, Subscriber
will notify the Issuer in writing at least two (2) business days in advance of such intended use, and if a notice of a Suspension
Event was previously delivered (or would have been delivered but for the provisions of this Section 5(d)) and the related
suspension period remains in effect, the Issuer will so notify Subscriber, within one (1) business day of Subscriber’s notification
to the Issuer, by delivering to Subscriber a copy of such previous notice of Suspension Event, and thereafter will provide Subscriber
with the related notice of the conclusion of such Suspension Event promptly following its availability.

 

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e.
Indemnification.

 

(i) 
The Issuer agrees to indemnify and hold harmless, the Subscriber (to the extent a seller under the Registration Statement), its
directors, officers, partners, members, managers, stockholders, employees, advisors and agents, and each person or entity who
controls Subscriber (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) to the fullest
extent permitted by applicable law, from and against any and all losses, claims, damages, liabilities and expenses (including,
without limitation, any reasonable and documented attorneys’ fees and expenses incurred in connection with defending or
investigating any such action or claim) (“Losses”) resulting from or arising out of any untrue or alleged untrue
statement of material fact contained in any Registration Statement, prospectus included in any Registration Statement (“Prospectus”)
or preliminary Prospectus or any amendment thereof or supplement thereto or document incorporated by reference therein or any
omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein
(in the case of the Prospectus, in light of the circumstances under which they were made), not misleading, except to the extent,
and only to the extent, as the same were based on information furnished in writing to the Issuer by or on behalf of such Subscriber
expressly for use therein; provided, however, that the indemnification contained in this Section (e) shall not apply to amounts
paid in settlement of any Losses if such settlement is effected without the consent of the Issuer (which consent shall not be
unreasonably withheld, conditioned or delayed), nor shall the Issuer be liable for any Losses to the extent they arise out of
or are based upon a violation which occurs (A) in connection with any failure of such person to deliver or cause to be delivered
a Prospectus made available by the Issuer in a timely manner or (B) in connection with any offers or sales effected by or on behalf
of Subscriber in violation of this Agreement.

 

(ii) 
In connection with any Registration Statement in which Subscriber is participating, Subscriber shall furnish to the Issuer in
writing such information and affidavits as the Issuer reasonably requests for use in connection with any such Registration Statement
or Prospectus. Subscriber agrees, severally and not jointly with any other investor that is a party to the Other Subscription
Agreements, to indemnify and hold harmless, to the extent permitted by law, the Issuer, its directors and officers and agents
and employees and each person or entity who controls the Issuer (within the meaning of Section 15 of the Securities Act) against
any losses, claims, damages, liabilities and expenses (including, without limitation, reasonable and documented attorneys’
fees) resulting from or arising out of any untrue or alleged untrue statement of material fact contained in the Registration Statement,
Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material
fact required to be stated therein or necessary to make the statements therein (in the case of the Prospectus, in light of the
circumstances under which they were made), not misleading, but only to the extent that such untrue statement or omission is contained
(or not contained in, in the case of an omission) and are based on information or affidavit so furnished in writing by or on behalf
of such Subscriber expressly for use therein; provided, however, that in no event shall the liability of the Subscriber
be greater in amount than the dollar amount of the net proceeds received by the Subscriber upon the sale of Acquired Shares pursuant
to such Registration Statement giving rise to such indemnification obligation.

  

(iii) 
Any person or entity entitled to indemnification herein shall (1) give prompt written notice to the indemnifying party of any
claim with respect to which it seeks indemnification (provided that the failure to give prompt notice shall not impair
any person’s or entity’s right to indemnification hereunder to the extent such failure has not prejudiced the indemnifying
party) and (2) permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the
indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability for any settlement
made by the indemnified party without its consent (but such consent shall not be unreasonably conditioned, withheld or delayed).
An indemnifying party who elects not to assume the defense of a claim shall not be obligated to pay the fees and expenses of more
than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment
of legal counsel to any indemnified party a conflict of interest exists between such indemnified party and any other of such indemnified
parties with respect to such claim. No indemnifying party shall, without the consent of the indemnified party, consent to the
entry of any judgment or enter into any settlement which cannot be settled in all respects by the payment of money (and such money
is so paid by the indemnifying party pursuant to the terms of such settlement) or which settlement does not include as an unconditional
term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such
claim or litigation.

 

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(iv) 
The indemnification provided for under this Subscription Agreement shall remain in full force and effect regardless of any investigation
made by or on behalf of the indemnified party or any officer, director, employee, agent, affiliate or controlling person or entity
of such indemnified party and shall survive the transfer of the Acquired Shares.

 

(v) 
If the indemnification provided under this Section 5(e) from the indemnifying party is unavailable or insufficient to hold
harmless an indemnified party in respect of any losses, claims, damages, liabilities and expenses referred to herein, then the
indemnifying party, in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by the indemnified
party as a result of such losses, claims, damages, liabilities and expenses in such proportion as is appropriate to reflect the
relative fault of the indemnifying party and the indemnified party, as well as any other relevant equitable considerations. The
relative fault of the indemnifying party and indemnified party shall be determined by reference to, among other things, whether
any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to
state a material fact, was made by (or not made by, in the case of an omission), or relates to information supplied by (or not
supplied by, in the case of an omission), such indemnifying party or indemnified party, and the indemnifying party’s and
indemnified party’s relative intent, knowledge, access to information and opportunity to correct or prevent such action.
The amount paid or payable by a party as a result of the losses or other liabilities referred to above shall be deemed to include,
subject to the limitations set forth in Sections 5(e)(i), (ii) and (iii) above, any legal or other fees, charges or expenses
reasonably incurred by such party in connection with any investigation or proceeding. No person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution pursuant to this Section 5(e)(v)
from any person or entity who was not guilty of such fraudulent misrepresentation. For avoidance of doubt, in no event shall
the liability of each such Subscriber be greater in amount than the dollar amount of the net proceeds received by such Subscriber
from the sale of Acquired Shares pursuant to such Registration Statement giving rise to any obligations under this clause (v).

 

6. 
Termination. This Subscription Agreement shall terminate and be void and of no further force and effect, and all rights
and obligations of the parties hereunder shall terminate without any further liability on the part of any party in respect thereof,
upon the earlier to occur of (a) such date and time as the Transaction Agreement is terminated in accordance with its terms,
(b) upon the mutual written agreement of each of the parties hereto to terminate this Subscription Agreement, (c) if
any of the conditions to Closing set forth in Section 2 of this Subscription Agreement are not satisfied on or prior
to the Closing and, as a result thereof, the transactions contemplated by this Subscription Agreement are not consummated at the
Closing or (d) the Outside Date (as defined below) provided, that nothing herein will relieve any party from liability
for any willful breach hereof prior to the time of termination, and each party will be entitled to any remedies at law or in equity
to recover losses, liabilities or damages arising from such breach. The Outside Date shall be June 30, 2021 (the “Outside
Date”); provided, however, that (i) the Outside Date may be extended by the Issuer for up to three (3)
additional one (1)-month periods if all of the conditions set forth in Section 7.1, Section 7.2 and Section 7.3
of the Transaction Agreement have been satisfied or waived at the Outside Date, other than the condition set forth in Section 7.2(k)
thereof and those conditions which by their terms would be satisfied at the Closing and (ii) the Outside Date shall be extended
automatically once for sixty (60) days if all of the conditions set forth in Section 7.1, Section 7.2 and Section
7.3 of the Transaction Agreement have been satisfied or waived at the Outside Date, other than the condition set forth in
Section 7.1(d) thereof and those conditions which by their terms would be satisfied at the Closing. The Issuer shall promptly
notify Subscriber in writing (with email being sufficient) of the termination of the Transaction Agreement.

 

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7. 
Additional Agreements and Waivers of Subscriber.

 

a.
Trust Account Waiver. Subscriber acknowledges that the Issuer is a blank check company with the powers and privileges to
effect a merger, asset acquisition, reorganization or similar business combination involving the Issuer and one or more businesses
or assets. Subscriber further acknowledges that, as described in the Issuer’s prospectus relating to its initial public
offering dated September 24, 2020 (the “September 2020 Prospectus”), available at sec.gov, substantially all
of the Issuer’s assets consist of the cash proceeds of the Issuer’s initial public offering and private placements
of its securities, and substantially all of those proceeds have been deposited in a trust account (the “Trust Account”)
for the benefit of its public stockholders and the underwriters of its initial public offering. Except with respect to interest
earned on the funds held in the Trust Account that may be released to the Issuer to pay its tax obligations, if any, the cash
in the Trust Account may be disbursed only for the purposes set forth in the September 2020 Prospectus. For and in consideration
of the Issuer entering into this Subscription Agreement, the receipt and sufficiency of which are hereby acknowledged, Subscriber
hereby irrevocably waives any and all right, title and interest, or any claim of any kind it has or may have in the future as
a result of, or arising out of, this Subscription Agreement, in or to any monies held in the Trust Account, and agrees not to
seek recourse or make or bring any action, suit, claim or other proceeding against the Trust Account as a result of, or arising
out of, this Subscription Agreement, the transactions contemplated hereby or the Acquired Shares, regardless of whether such claim
arises based on contract, tort, equity or any other theory of legal liability; provided however, that nothing in this Section
7 shall be deemed to limit any Subscriber’s right, title, interest or claim to the Trust Account by virtue of such Subscriber’s
record or beneficial ownership of securities of the Issuer acquired by any means other than pursuant to this Subscription Agreement,
including but not limited to any redemption right with respect to any such securities of the Issuer. Subscriber acknowledges and
agrees that it shall not have any redemption rights with respect to the Acquired Shares pursuant to the Issuer’s certificate
of incorporation in connection with the Transactions or any other business combination, any subsequent liquidation of the Trust
Account or the Issuer or otherwise. In the event Subscriber has any claim against the Issuer as a result of, or arising out of,
this Subscription Agreement, the transactions contemplated hereby or the Acquired Shares, it shall pursue such claim solely against
the Issuer and its assets outside the Trust Account and not against the Trust Account or any monies or other assets in the Trust
Account. This paragraph shall survive any termination of this Subscription Agreement.

 

b.
No Hedging. Subscriber hereby agrees that neither it, nor any person or entity acting on its behalf or pursuant to any
understanding with it, shall execute any short sales or engage in other hedging transactions of any kind with respect to the Acquired
Shares during the period from the date of this Subscription Agreement through the Closing. Nothing in this Section 7(b) shall
prohibit such persons from engaging in hedging transactions with respect to other securities of the Issuer, including Class A
Shares acquired in open market purchases, so long as such person does not create any “put equivalent position,” as
such term is defined in Rule 16a-1 under the Exchange Act, or short sale positions, with respect to the Acquired Shares, nor shall
this Section 7(b) prohibit any other investment portfolios of the Subscriber that have no knowledge of this Subscription Agreement
or of Subscriber’s participation in this transaction (including Subscriber’s controlled affiliates and/or affiliates)
from entering into any short sales or engaging in other hedging transactions.

 

8. 
Issuer’s Covenants

 

 a. 
With a view to making available to Subscriber the benefits of Rule 144 or any other similar rule or regulation of the Commission
that may at any time permit Subscriber to sell securities of the Issuer to the public without registration, the Issuer agrees,
for so long as Subscriber holds Acquired Shares:

 

(i) file
with the Commission in a timely manner all reports and other documents required of the Issuer under the Securities Act and the
Exchange Act so long as the Issuer remains subject to such requirements and the filing of such reports and other documents is
required for the applicable provisions of Rule 144; and

 

(ii) furnish
to Subscriber so long as it owns Acquired Shares, promptly upon request, (x) a written statement by the Issuer, if true, that
it has complied with the reporting requirements of Rule 144(c) or Rule 144(i), as applicable, the Securities Act and the Exchange
Act, (y) a copy of the most recent annual or quarterly report of the Issuer and such other reports and documents so filed by the
Issuer (public availability on the Commission’s EDGAR system (or successor system) being sufficient) and (z) such other
information as may be reasonably requested to permit Subscriber to sell such securities pursuant to Rule 144 without registration.

 

b. 
The Issuer will use the proceeds from the sale of the Acquired Shares and the shares issued and sold pursuant to the Other Subscription
Agreement as described in the Issuer’s definitive proxy statement on Schedule 14A delivered to its stockholders in connection
with the Transactions.

 

    14

     

    

 

 

c. 
The legend described in Section 4(e) shall be removed and the Issuer shall issue a certificate without such legend to the
holder of the Acquired Shares upon which it is stamped or issue to such holder by electronic delivery at the applicable balance
account at The Depository Trust Company (“DTC”), if (i) such Acquired Shares are registered for resale under
the Securities Act, upon the sale thereof, (ii) in connection with a sale, assignment or other transfer, such holder provides
the Issuer with an opinion of counsel, in a form reasonably acceptable to the Issuer, to the effect that such sale, assignment
or transfer of the Acquired Shares may be made without registration under the applicable requirements of the Securities Act, or
(iii) the Acquired Shares can be sold, assigned or transferred without restriction or current public information requirements
pursuant to Rule 144, including without limitation, any volume and manner of sale restrictions which may be applicable to affiliates
under Rule 144 and any requirement for the Issuer to be in compliance with the current public information required under Rule
144(c) or Rule 144(i), as applicable, and in each case, the holder provides the Issuer with an undertaking to effect any sales
or other transfers in accordance with the Securities Act. The Issuer shall be responsible for the fees of its transfer agent and
all DTC fees associated with such issuance and Subscriber shall be responsible for all other fees and expenses (including, without
limitation, any applicable broker fees, feels and disbursements of their legal counsel and any applicable transfer taxes).

 

9.
Miscellaneous.

 

a. 
Each party hereto acknowledges that the other party hereto and others will rely on the acknowledgments, understandings, agreements,
representations and warranties contained in this Subscription Agreement. Prior to the Closing, each party hereto agrees to promptly
notify the other party hereto if any of the acknowledgments, understandings, agreements, representations and warranties set forth
herein with respect to it are no longer accurate in all material respects. Subscriber further acknowledges and agrees that each
of the Placement Agents is a third-party beneficiary of the representations and warranties of the Subscriber contained in this
Subscription Agreement.

 

b. 
Each of the Issuer and Subscriber is entitled to rely upon this Subscription Agreement and is irrevocably authorized to produce
this Subscription Agreement or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry
with respect to the matters covered hereby. Each of the Placement Agents is entitled to rely upon the representations and warranties
made by Subscriber in this Subscription Agreement.

 

c. 
This Subscription Agreement may not be transferred or assigned without the prior written consent of the other party hereto. Notwithstanding
the foregoing, this Subscription Agreement and any of Subscriber’s rights and obligations hereunder may be assigned to any
fund or account managed by the same investment manager or investment advisor as Subscriber or by an affiliate of such investment
manager or investor advisor, without the prior consent of the Issuer, provided that such assignee(s) agrees in writing
to be bound by the terms hereof. Upon such assignment by a Subscriber, the assignee(s) shall become Subscriber hereunder and have
the rights and obligations provided for herein to the extent of such assignment; provided further that, no assignment shall
relieve the assigning party of any of its obligations hereunder, including any assignment to any fund or account managed by the
same investment manager or investment advisor as Subscriber or by an affiliate of such investment manager or investment advisor,
unless consented to in writing by the Issuer. Neither this Subscription Agreement nor any rights that may accrue to the Issuer
hereunder or any of the Issuer’s obligations may be transferred or assigned other than pursuant to the Transactions. 

 

d. 
All the representations and warranties made by each party hereto in this Subscription Agreement shall survive the Closing and
expire six months from the date of the Closing. All covenants made by each party hereto in this Subscription Agreement required
to be performed after the Closing shall expire upon performance. All other agreements made by each party hereto in this Subscription
Agreement shall expire at the Closing.

 

    15

     

    

 

e. 
The Issuer may request from Subscriber such additional information as the Issuer may deem reasonably necessary to evaluate the
eligibility of Subscriber to acquire the Acquired Shares, and Subscriber shall provide such information as may be reasonably requested,
to the extent readily available and to the extent consistent with its internal policies and procedures; provided, that,
the Issuer agrees to keep any such information provided by Subscriber confidential; provided, further, that upon recipient
of such additional information, the Issuer shall be allowed to convey such information to each Placement Agent and such Placement
Agent shall keep the information confidential, except as may be required by applicable law, rule, regulation or in connection
with any legal proceeding or regulatory request.

 

 f. 
This Subscription Agreement may not be modified, waived or terminated except by an instrument in writing, signed by the party
against whom enforcement of such modification, waiver, or termination is sought.

 

g. 
This Subscription Agreement constitutes the entire agreement, and supersedes all other prior agreements, understandings, representations
and warranties, both written and oral, among the parties, with respect to the subject matter hereof.

  

h. 
Except as otherwise provided herein, this Subscription Agreement shall be binding upon, and inure to the benefit of the parties
hereto and their heirs, executors, administrators, successors, legal representatives, and permitted assigns, and the agreements,
representations, warranties, covenants and acknowledgments contained herein shall be deemed to be made by, and be binding upon,
such heirs, executors, administrators, successors, legal representatives and permitted assigns.

 

i. 
If any provision of this Subscription Agreement shall be invalid, illegal or unenforceable, the validity, legality or enforceability
of the remaining provisions of this Subscription Agreement shall not in any way be affected or impaired thereby and shall continue
in full force and effect.

 

j. 
This Subscription Agreement may be executed in two (2) or more counterparts (including by electronic means), all of which
shall be considered one and the same agreement and shall become effective when signed by each of the parties and delivered to
the other parties, it being understood that all parties need not sign the same counterpart.

 

k. 
Each party shall pay all of its own expenses in connection with this Subscription Agreement and the transactions contemplated
by this Subscription Agreement.

 

l.
The Issuer shall be responsible for the fees of the Transfer Agent, the escrow agent, stamp taxes and all of DTC’s fees
associated with the issuance of the Acquired Shares.

 

m.
Subscriber understands and agrees that (i) no disclosure or offering document has been prepared by the Placement Agents or any
of their respective affiliates in connection with the offer and sale of the Acquired Shares; (ii) the Placement Agents and their
respective directors, officers, employees, representatives and controlling persons have made no independent investigation with
respect to the Issuer, PWP, the Transactions or the Acquired Shares or the accuracy, completeness or adequacy of any information
supplied to Subscriber by the Issuer; and (iii) in connection with the issue and purchase of the Acquired Shares, the Placement
Agents have not acted as the Subscriber’s financial advisor, tax or fiduciary.

 

n. 
Any notice or communication required or permitted hereunder shall be in writing and either delivered personally, emailed or telecopied,
sent by overnight mail via a reputable overnight carrier, or sent by certified or registered mail, postage prepaid, and shall
be deemed to be given and received (i) when so delivered personally, (ii) upon receipt of an appropriate electronic
answerback or confirmation when so delivered by telecopy (to such number specified below or another number or numbers as such
person may subsequently designate by notice given hereunder), (iii) when sent, with no mail undeliverable or other rejection notice,
if sent by email, or (d) five (5) business days after the date of mailing to the address below or to such other address or
addresses as such person may hereafter designate by notice given hereunder:

 

(A) 
if to Subscriber, to such address or addresses set forth on the signature page hereto;

 

    16

     

    

 

(B) 
if to the Issuer, to:

 

2929
Arch Street, Suite 1703

Philadelphia,
PA 19104

Attention:
Amanda Abrams

Telephone:
(484) 459-3476

E-mail:
amanda@ftspac.com

 

with
a required copy to (which copy shall not constitute notice):

 

Morgan, Lewis & Bockius LLP

1111 Pennsylvania Avenue, NW

Washington, DC 20004-2541

	 	Attention:	Sean M. Donahue
	 	 	Jeffrey A. Letalien
	 	Telephone:	(202) 739-5658
	 	Facsimile:	(202) 739-3001
	 	E-mail:	sean.donahue@morganlewis.com
	 	 	jeffrey.letalien@morganlewis.com

 

o. 
The parties hereto agree that irreparable damage would occur in the event that any of the provisions of this Subscription Agreement
were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties
shall be entitled to seek an injunction or injunctions to prevent breaches of this Subscription Agreement and to enforce specifically
the terms and provisions of this Subscription Agreement, this being in addition to any other remedy to which such party is entitled
at law, in equity, in contract, in tort or otherwise.

 

p. 
This Subscription Agreement, and any claim or cause of action hereunder based upon, arising out of or related to this Subscription
Agreement (whether based on law, in equity, in contract, in tort or any other theory) or the negotiation, execution, performance
or enforcement of this Subscription Agreement, shall be governed by and construed in accordance with the laws of the State of
New York, without giving effect to the principles of conflicts of laws thereof.

 

THE
PARTIES HERETO IRREVOCABLY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT
OF NEW YORK, THE SUPREME COURT OF THE STATE OF NEW YORK AND THE FEDERAL COURTS OF THE UNITED STATES OF AMERICA LOCATED IN THE
STATE OF NEW YORK SOLELY IN RESPECT OF THE INTERPRETATION AND ENFORCEMENT OF THE PROVISIONS OF THIS SUBSCRIPTION AGREEMENT AND
THE TRANSACTIONS CONTEMPLATED HEREBY, AND HEREBY WAIVE, AND AGREE NOT TO ASSERT, AS A DEFENSE IN ANY ACTION, SUIT OR PROCEEDING
FOR INTERPRETATION OR ENFORCEMENT HEREOF OR THAT SUCH ACTION, SUIT OR PROCEEDING MAY NOT BE BROUGHT OR IS NOT MAINTAINABLE IN
SAID COURTS OR THAT VENUE THEREOF MAY NOT BE APPROPRIATE OR THAT THIS SUBSCRIPTION AGREEMENT MAY NOT BE ENFORCED IN OR BY SUCH
COURTS, AND THE PARTIES HERETO IRREVOCABLY AGREE THAT ALL CLAIMS WITH RESPECT TO SUCH ACTION, SUIT OR PROCEEDING SHALL BE HEARD
AND DETERMINED BY SUCH A NEW YORK STATE OR FEDERAL COURT. THE PARTIES HEREBY CONSENT TO AND GRANT ANY SUCH COURT JURISDICTION
OVER THE PERSON OF SUCH PARTIES AND OVER THE SUBJECT MATTER OF SUCH DISPUTE AND AGREE THAT MAILING OF PROCESS OR OTHER PAPERS
IN CONNECTION WITH SUCH ACTION, SUIT OR PROCEEDING IN THE MANNER PROVIDED IN SECTION 9(n) OR IN SUCH OTHER MANNER AS MAY
BE PERMITTED BY LAW SHALL BE VALID AND SUFFICIENT SERVICE THEREOF.

 

EACH
PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY
WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR
RELATING TO THIS SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS SUBSCRIPTION AGREEMENT. EACH PARTY CERTIFIES
AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, PLACEMENT AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR
OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER; (II) SUCH PARTY
UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THE FOREGOING WAIVER; (III) SUCH PARTY MAKES THE FOREGOING WAIVER VOLUNTARILY
AND (IV) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS SUBSCRIPTION AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVER
AND CERTIFICATIONS IN THIS SECTION 9(p).

 

    17

     

    

  

q. 
The Issuer shall, by 9:00 a.m., New York City time, on the first (1st) business day immediately following the date of this Subscription
Agreement, issue one or more press releases or file with the Commission a Current Report on Form 8-K (collectively, the “Disclosure
Document”) disclosing all material terms of the transactions contemplated hereby and by the Other Subscription Agreements
and the Transactions. Upon the issuance of the Disclosure Document, to the Issuer’s knowledge, Subscriber shall not be in
possession of any material, non-public information received from the Issuer or any of its officers, directors or employees or
agents (including the Placement Agents) and Subscriber shall no longer be subject to any confidentiality or similar obligations
under any current agreement, whether written or oral with the Issuer, the Placement Agents or any of their affiliates. Notwithstanding
anything in this Subscription Agreement to the contrary, the Issuer shall not publicly disclose the name of Subscriber or any
of its affiliates or its investment adviser, or include the name of Subscriber or any of its affiliates or its investment adviser
in any press release or in any filing with the Commission or any regulatory agency or trading market, without the prior written
consent of Subscriber, except as required by state or federal securities law, any governmental authority or stock exchange rule,
in which case the Issuer shall provide Subscriber with prior written notice of such disclosure permitted under hereunder.

 

[Signature
pages follow.]

   

    18

     

    

 

IN
WITNESS WHEREOF, each of the Issuer and Subscriber has executed or caused this Subscription Agreement to be executed by its
duly authorized representative as of the date set forth below.

 

	 	FINTECH
    ACQUISITION CORP. IV 
	 	 
	 	By:	 
	 	Name:  
    	James
    J. McEntee, III
	 	Title:	President

 

Date:
December 29, 2020

 

 

Signature Page to

Subscription Agreement 

 

     

     

    

 

 

	SUBSCRIBER:	 	 
	 	 	 
	Signature of Subscriber:	 	Signature of Joint Subscriber, if applicable:
	 	 	 
	By: 	     	 	By: 	  
	Name:	 	 	Name:	 
	Title:	 	 	Title:	 

  

Date: December 29,
2020

 

	Name of Subscriber:	 	Name of Joint Subscriber, if applicable:
	 	 	 
	 	 	 
	(Please print. Please indicate name and	 	(Please print. Please indicate name and
	capacity of person signing above)	 	capacity of person signing above)
	 	 	 
	 	 	 
	Name in which securities are to be registered

(if different)	 	 

 

	Email Address:	 	 
	 	 	 
	If there are joint investors, please check one:	 	 
	 	 	 
	☐ Joint Tenants with Rights of Survivorship	 	 
	 	 	 
	☐ Tenants-in-Common	 	 
	 	 	 
	☐ Community Property	 	 
	 	 	 
	Subscriber’s EIN:  _______________	 	Joint Subscriber’s EIN:

    
	 	 	 
	 	 	
	Business Address-Street: 	 	Mailing Address-Street (if different):
	 	 	 
		 	
	 	 	 
	City, State, Zip:	 	City, State, Zip:
	 	 	 
	Attn:	 	Attn:
	 	 	 
	Telephone No.: ___________________	 	Telephone No.: ___________________
	 	 	 
	Facsimile No.: ____________________	 	Facsimile No.: ____________________
	 	 	 
	Aggregate Number of Acquired Shares subscribed
    for:	 	 
	_________________	 	 
	 	 	 
	Aggregate Purchase Price: $_______________	 	 

 

Signature Page to

Subscription Agreement

 

     

     

    

 

You
must pay the Purchase Price by wire transfer of United States dollars in immediately available funds to the account specified
by the Issuer in the Closing Notice.

 

Number
of Acquired Shares subscribed for and aggregate Purchase Price accepted and agreed to as of this 29th day of December, 2020,
by:

 

FINTECH
ACQUISITION CORP. IV

 

	By:  	 	 
	Name: 	James
    J. McEntee, III	 
	Title:	President	 

 

Signature Page to

Subscription Agreement 

 

     

     

    

 

SCHEDULE
A

ELIGIBILITY REPRESENTATIONS OF SUBSCRIBER

 

	A.	QUALIFIED
    INSTITUTIONAL BUYER STATUS

    (Please check the applicable subparagraphs):
	 	 
	 	1.	☐
    We are a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act (a “QIB”)).
	 	 	 
	 	2.	☐
    We are subscribing for the Acquired Shares as a fiduciary or agent for one or more investor accounts, and each owner of such
    account is a QIB.

 

***
OR ***

 

	B.	INSTITUTIONAL
    ACCREDITED INVESTOR STATUS

    (Please check each of the following subparagraphs):
	 	 
	 	1.	☐
    We are an “accredited investor” (within the meaning of Rule 501(a) under the Securities Act) or an entity in which
    all of the equity holders are accredited investors within the meaning of Rule 501(a) under the Securities Act and have marked
    and initialed the appropriate box on the following page indicating the provision under which we qualify as an “accredited
    investor”.
	 	2.	☐
    We are not a natural person.
	 	 	 

 

***
AND ***

 

	C.	AFFILIATE
    STATUS

    (Please check the applicable box)
	 	SUBSCRIBER:
	 	 
	 	☐	is:
	 	 	 
	 	☐	is
    not:

 

an
“affiliate” (as defined in Rule 144 under the Securities Act) of the Issuer or acting on behalf of an affiliate of
the Issuer.

 

FINRA
Rule 4512(c) states that an “institutional account” shall mean any person who comes within any of the below listed
categories. Subscriber has indicated, by marking and initialing the appropriate box below, the provision(s) below which apply
to Subscriber and under which Subscriber accordingly qualifies as an “institutional account.”

 

☐
a bank, savings and loan association, insurance company or registered investment company;

 

☐
an investment adviser registered either with the Commission under Section 203 of the Investment Advisers Act or with a state securities
commission (or any agency or office performing like functions); or

 

☐
any other person (whether a natural person, corporation, partnership, trust or otherwise) with total assets of at least $50 million.

 

This
page should be completed by Subscriber

and constitutes a part of the Subscription Agreement. 

 

    Schedule A-1

     

    

 

Rule
501(a), in relevant part, states that an “accredited investor” shall mean any person who comes within any of the below
listed categories, or who the Issuer reasonably believes comes within any of the below listed categories, at the time of the sale
of the securities to that person. Subscriber has indicated, by marking and initialing the appropriate box below, the provision(s)
below that apply to Subscriber and under which Subscriber accordingly qualifies as an “accredited investor.”

 

☐ 
Any bank as defined in section 3(a)(2) of the Securities Act, or any savings and loan association or other institution as defined
in section 3(a)(5)(A) of the Securities Act whether acting in its individual or fiduciary capacity;

 

☐ Any
broker or dealer registered pursuant to section 15 of the Exchange Act;

 

☐ An investment adviser registered pursuant to section 203 of the Investment Advisers Act of 1940 or registered pursuant to the
laws of a state;

 

☐ 
An investment adviser relying on the exemption from registering with the Securities and Exchange Commission under section 203(l)
or (m) of the Investment Advisers Act of 1940;

 

☐ Any
insurance company as defined in section 2(a)(13) of the Securities Act;

 

☐ Any
investment company registered under the Investment Company Act of 1940 or a business development company as defined in section
2(a)(48) of the Securities Act;

 

☐ Any
Small Business Investment Company licensed by the U.S. Small Business Administration under section 301(c) or (d) of the Small
Business Investment Act of 1958;

 

☐ A
Rural Business Investment Company as defined in section 384A of the Consolidated Farm and Rural Development Act;

 

☐ Any
plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political
subdivisions, for the benefit of its employees, if such plan has total assets in excess of $5,000,000;

 

☐ Any
employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974 if the investment decision is
made by a plan fiduciary, as defined in section 3(21) of such Act, which is either a bank, savings and loan association, insurance
company, or registered investment adviser, or if the employee benefit plan has total assets in excess of $5,000,000 or, if a self-directed
plan, with investment decisions made solely by persons that are accredited investors;

 

This
page should be completed by Subscriber

and constitutes a part of the Subscription Agreement. 

  

    Schedule A-2

     

    

 

 

☐ Any
private business development company as defined in section 202(a)(22) of the Investment Advisers Act of 1940;

 

☐ Any
organization described in section 501(c)(3) of the Internal Revenue Code, corporation, Massachusetts or similar business trust,
partnership, or limited liability company, not formed for the specific purpose of acquiring the securities offered, with total
assets in excess of $5,000,000;

 

☐ Any
trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the securities offered, whose
purchase is directed by a sophisticated person as described in Rule 506(b)(2)(ii) of the Securities Act;

 

☐ An
entity, of a type not listed in any of the foregoing paragraphs, not formed for the specific purpose of acquiring the securities
offered, owning investments in excess of $5,000,000;

 

☐ A
“family office,” as defined in rule 202(a)(11)(G)-1 under the Investment Advisers Act of 1940 (17 CFR 275.202(a)(11)(G)-1):
(i) with assets under management in excess of $5,000,000, (ii) that is not formed for the specific purpose of acquiring the securities
offered, and (iii) whose prospective investment is directed by a person who has such knowledge and experience in financial and
business matters that such family office is capable of evaluating the merits and risks of the prospective investment; or

 

☐ A
“family client,” as defined in rule 202(a)(11)(G)-1 under the Investment Advisers Act of 1940 (17 CFR 275.202(a)(11)(G)-1)),
of a family office meeting the requirements in the foregoing paragraph and whose prospective investment in the issuer is directed
by such family office pursuant to clause (iii) in the foregoing paragraph.

 

☐ Any
natural person whose individual net worth, or joint net worth with that person’s spouse, at the time of his purchase exceeds
$1,000,000.  For purposes of calculating a natural person’s net worth: (a) the person’s primary residence must
not be included as an asset; (b) indebtedness secured by the person’s primary residence up to the estimated fair market
value of the primary residence must not be included as a liability (except that if the amount of such indebtedness outstanding
at the time of calculation exceeds the amount outstanding 60 days before such time, other than as a result of the acquisition
of the primary residence, the amount of such excess must be included as a liability); and (c) indebtedness that is secured by
the person’s primary residence in excess of the estimated fair market value of the residence must be included as a liability;

 

☐ Any
natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with that
person’s spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income
level in the current year; or

 

☐
Any entity in which all of the equity owners are accredited investors meeting one or more of the above tests.

 

This
page should be completed by Subscriber

and constitutes a part of the Subscription Agreement. 

 

 

Schedule
A-3Exhibit
4.4

 

WARRANT AGREEMENT

 

THIS WARRANT AGREEMENT
(this “Agreement”), dated as of [●], 2021, is by and between Hamilton Lane Alliance Holdings I, Inc.,
a Delaware corporation (the “Company”), and Continental Stock Transfer & Trust Company, a New
York limited purpose trust company, as warrant agent (the “Warrant Agent,” also referred to herein as
the “Transfer Agent”).

 

WHEREAS, the Company
is engaged in an initial public offering (the “Offering”) of units of the Company’s equity securities,
each such unit comprised of one share of Class A common stock of the Company, par value $0.0001 per share (“Common
Stock”), and one-third of one redeemable Public Warrant (as defined below) (the “Units”)
and, in connection therewith, has determined to issue and deliver up to 6,666,667 warrants (or up to 7,666,667 warrants if the
Over-allotment Option (as defined below) is exercised in full) to public investors in the Offering (the “Public Warrants”),
each whole Public Warrant entitling the holder to purchase one share of Common Stock at an exercise price of $11.50 per share,
subject to adjustment as described herein;

 

WHEREAS, on [●],
2021, the Company entered into that certain Warrant Purchase Agreement with HL Alliance Holdings Sponsor LLC, a Delaware limited
liability company (the “Sponsor”), pursuant to which the Sponsor agreed to purchase an aggregate of 4,000,000
warrants (or up to 4,400,000 warrants if the Over-allotment Option 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;

 

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 $2,000,000 of such loans may be converted into warrants at a
price of $1.50 per warrant at the option of the lender (the “Working Capital Warrants”);

 

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 (defined below);

 

WHEREAS, the Company
has filed with the Securities and Exchange Commission (the “Commission”) registration statement on Form S-1,
File No. 333-251419, and a prospectus (the “Prospectus”), for the registration under the Securities
Act of 1933, as amended (the “Securities Act”), of the Units, the Public Warrants and the Common Stock
included in the Units;

 

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

 

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

 

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

 

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

 

     

     

    

 

1. 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 initially 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
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”).

 

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 (“Definitive
Warrant Certificates”) which shall be in the form annexed hereto as Exhibit A.

 

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

 

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

 

2.4 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 the 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 (i) 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 Current Report on Form 8-K, and
(ii) a second or amended Current Report on Form 8-K to provide updated financial information to reflect the underwriters’
exercise of the Over-allotment Option, if the Over-allotment Option is exercised following the filing of the Form 8-K pursuant
to clause (i) above, and (B) the Company issues a press release 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-third of one Public Warrant. If, upon the detachment of Public
Warrants from Units or otherwise, a holder of Warrants would be entitled to receive a fractional Warrant, the Company shall round
down to the nearest whole number the number of Warrants to be issued to such holder.

 

2.6 Private Placement
Warrants and Working Capital Warrants. The Private Placement Warrants and the Working Capital Warrants shall be identical to
the Public Warrants, except that so long as they are held by the original purchasers thereof or any Permitted Transferees (as defined
below) they: (i) may be exercised for cash or on a cashless basis, pursuant to subsection 3.3.1(c) hereof, (ii) including
the shares of Common Stock issuable upon exercise of the Private Placement Warrants and the Working Capital Warrants, subject to
certain exceptions, may not be transferred, assigned or sold until thirty (30) days after the completion by the Company of an initial
Business Combination (as defined below), and (iii) shall not be redeemable by the Company pursuant to Section 6.1
hereof; provided, however, that in the case of (ii), the Private Placement Warrants and the Working Capital Warrants and any shares
of Common Stock held by the original purchasers thereof or any Permitted Transferees and issued upon exercise of the Private Placement
Warrants or the Working Capital Warrants 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 to any member(s) of the Sponsor, any affiliates of such members and funds and accounts advised by such members;

 

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

 

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

 

(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 an initial Business Combination at prices no greater than the price at
which the securities were originally purchased;

 

(f) in the event
of the Company’s liquidation prior to consummation 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 liquidation or dissolution of
the Sponsor;

 

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

 

(i) to the Company
for no value for cancellation in connection with the consummation of the Company’s initial Business Combination;

 

provided, however, that,
in the case of clauses (a) through (e) or (g), any such transferees (the “Permitted Transferees”)
enter into a written agreement with the Company agreeing to be bound by the transfer restrictions in this Agreement.

 

     

     

    

 

2.7 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 whole Warrant shall entitle the Registered Holder thereof, subject to the provisions of such Warrant and of this Agreement,
to purchase from the Company the number of 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 (including in cash or by payment of Warrants pursuant to
a “cashless exercise,” to the extent permitted hereunder) 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 (unless otherwise required by the Commission, any national
securities exchange on which the Warrants are listed or applicable law); provided, that the Company shall provide at least three
(3) Business 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:
(i) 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”), or (ii) 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 earliest to occur of: (x) the date that is five
(5) years after the date on which the Company completes its initial Business Combination, (y) the liquidation of the
Company in accordance with the Company’s amended and restated certificate of incorporation, as amended from time to time,
if the Company fails to complete a Business Combination, or (z) other than with respect to the Private Placement Warrants
and the Working Capital Warrants to the extent then held by the original purchasers thereof or their Permitted Transferees, 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 or a valid exemption therefrom
being available. Except with respect to the right to receive the Redemption Price (as defined below) (other than with respect to
a Private Placement Warrant or a Working Capital Warrant) to the extent then held by the original purchasers thereof or their Permitted
Transferees in the event of a redemption (as set forth in Section 6 hereof), each outstanding Warrant (other than a
Private Placement Warrant or a Working Capital Warrant to the extent then held by the original purchasers thereof or their Permitted
Transferees in the event of a redemption) not exercised on or before the Expiration Date shall become void, and all rights thereunder
and all rights in respect thereof under this Agreement shall cease at 5:00 p.m., New York City time, on the Expiration Date. The
Company in its sole discretion may extend the duration of the Warrants by delaying the Expiration Date; provided, that the
Company shall provide at least twenty (20) days prior written notice of any such extension to Registered Holders of the Warrants
and, provided further that any such extension shall be identical in duration among all the Warrants.

 

3.3 Exercise of Warrants.

 

3.3.1 Payment.
Subject to the provisions of the Warrant and this Agreement, a Warrant may be exercised by the Registered Holder thereof by delivering
to the Warrant Agent at its corporate trust department (i) the Definitive Warrant Certificate evidencing the Warrants to be
exercised, or, in the case of a Warrant represented in book-entry form, the Warrants to be exercised (the “Book-Entry
Warrants”) on the records of the Depositary, to an account of the Warrant Agent at the Depositary designated for
such purposes in writing by the Warrant Agent to the Depositary from time to time, (ii) an election to purchase (“Election
to Purchase”) any shares of Common Stock pursuant to the exercise of a Warrant, properly completed and executed by
the Registered Holder on the reverse of the Definitive Warrant Certificate or, in the case of a Book-Entry Warrant, properly delivered
by the Participant in accordance with the Depositary’s procedures, and (iii) the payment in full of 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 wire payable to the order of the Warrant Agent;

 

(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 a Permitted Transferee, by surrendering the Warrants 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 in this subsection 3.3.1(c), over the Warrant Price by
(y) the Fair Market Value. Solely for purposes of this subsection 3.3.1(c), the “Fair Market Value” shall
mean the average last reported sale 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 Warrant is sent to the Warrant Agent;

 

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

 

(e) as provided
in Section 7.4 hereof.

 

3.3.2 Issuance of
Shares of Common Stock upon 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. 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 or a valid exemption from registration is available. 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, except pursuant to Section 7.4. In the event that
the conditions in the two immediately preceding sentences are not satisfied with respect to a Warrant, the holder of such Warrant
shall not be entitled to exercise such Warrant and such Warrant may have no value and expire worthless, in which case the purchaser
of a Unit containing such Public Warrants shall have paid the full purchase price for the Unit solely for the shares of Common
Stock underlying such Unit. In no event will the Company be required to net cash settle the exercise of a Warrant. The Company
may require holders of Public Warrants to settle the Warrant on a “cashless basis” pursuant to Section 7.4
hereof. 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.

 

     

     

    

 

3.3.5 Maximum Percentage.
A holder of a Warrant may notify the Company in writing in the event he, she or 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 (together with such person’s affiliates or any other person subject to aggregation with such
person for purposes of the “beneficial ownership” test under Section 13 of the Securities Exchange Act of 1934,
as amended (the “Exchange Act”), or any “group” (within the meaning of Section 13 of
the Exchange Act) of which such person is or may be deemed to be a part), to the Warrant Agent’s actual knowledge, would
beneficially own (within the meaning of Section 13 of the Exchange Act) (or to the extent that for any reason the equivalent
calculation under Section 16 of the Exchange Act and the rules and regulations thereunder would result in a higher ownership
percentage, such higher percentage would be) 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 his, her or its
affiliates or any such other person or group 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 his,
her or 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 his, her or 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 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 (1) the Company’s
most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, Current Report on Form 8-K or other public
filing with the Commission as the case may be, (2) a more recent public announcement by the Company or (3) any other
notice by the Company or the Transfer Agent setting forth the number of 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 his, her or 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 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 (i) 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 (ii) 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 all or substantially all of 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 amended and restated certificate
of incorporation (i) to modify the substance or timing of the Company’s obligation to allow redemption in connection
with its initial Business Combination or to redeem 100% of the shares of Common Stock included in the Units sold in the Offering
if the Company does not complete the Business Combination within the time period set forth in the Company’s amended and restated
certificate of incorporation or (ii) with respect to any other provision 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 Company’s Board of Directors (the “Board”),
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). Solely for purposes
of illustration, if the Company, at a time while the Warrants are outstanding and unexpired, pays a cash dividend of $0.35 per
share and previously paid an aggregate of $0.40 of cash dividends and cash distributions on the shares of Common Stock during the
365-day period ending on the date of declaration of such $0.35 per share dividend, then the Warrant Price will be decreased, effectively
immediately after the effective date of such $0.35 per share dividend, by $0.25 (the absolute value of the difference between $0.75
per share (the aggregate amount of all cash dividends and cash distributions paid or made in such 365- day period, including such
$0.35 dividend) and $0.50 per share (the greater of (x) $0.50 per share and (y) the aggregate amount of all cash dividends
and cash distributions paid or made in such 365-day period prior to such $0.35 dividend)).

 

4.2 Aggregation of
Shares. If, after the date hereof, and subject to the provisions of Section 4.6 hereof, the number of outstanding
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
Exercise 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 (x) the
Company issues additional shares of Common Stock or securities convertible into or exercisable or exchangeable for shares of Common
Stock 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 of Common Stock, with such issue price or effective issue price to be determined in good
faith by the Board (and in the case of any such issuance to the Sponsor or its affiliates, without taking into account any shares
of Common Stock issued prior to the Offering and held by the Sponsor or such 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 an initial Business Combination on the
date of the consummation of such 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
an initial Business Combination (such price, the “Market Value”) is below $9.20 per share, the Warrant
Price will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price,
the $18.00 per share redemption trigger price described in Section 6.1 and Section 6.2 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 per share
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 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 (i) 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 (ii) 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 Company’s amended and restated certificate of incorporation 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) (but in no event less than zero) equal to the difference of (i) the
Warrant Price in effect prior to such reduction minus (ii) (A) the Per Share Consideration (as defined below) minus (B) the
Black-Scholes Warrant Value (as defined below). The “Black-Scholes Warrant Value” means the value of
a Warrant immediately prior to the consummation of the applicable event based on the Black-Scholes Warrant Model for a Capped American
Call on Bloomberg Financial Markets (“Bloomberg”). For purposes of calculating such amount, (1) Section 6
of this Agreement shall be taken into account, (2) the price of each 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 amount of cash per
share of Common Stock, if any, plus 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.

 

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 (i) avoid an adverse
impact on the Warrants and (ii) effectuate the intent and purpose of this Section 4, then, in each such case,
the Company shall appoint a firm of independent public accountants, investment banking or other appraisal firm of recognized national
standing, which shall give its opinion as to whether or not any adjustment to the rights represented by the Warrants is necessary
to effectuate the intent and purpose of this Section 4 and, if they determine that an adjustment is necessary, the
terms of such adjustment; provided, however, that under no circumstances shall the Warrants be adjusted pursuant
to this Section 4.8 as a result of any issuance of securities in connection with a Business Combination. The Company
shall adjust the terms of the Warrants in a manner that is consistent with any adjustment recommended in such opinion.

 

4.9 No Adjustment.
For the avoidance of doubt, no adjustment shall be made to the terms of the Warrants solely as a result of an adjustment to the
conversion ratio of the Company’s Class B common stock, par value $0.0001 per share (the “Class B Common
Stock”), into shares of Common Stock or the conversion of the shares of Class B Common Stock into shares of
Common Stock, in each case, pursuant to the Company’s amended and restated certificate of incorporation, as further amended
from time to time.

 

     

     

    

 

5. Transfer and Exchange of Warrants.

 

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

 

5.2 Procedure for
Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, together with a written request for exchange or transfer,
and thereupon the Warrant Agent shall issue in exchange therefor one or more new Warrants as requested by the Registered Holder
of the Warrants so surrendered, representing an equal aggregate number of Warrants; provided, however, that except as otherwise
provided herein or with respect to any Book-Entry Warrant, each Book-Entry Warrant may be transferred only in whole and only to
the Depositary, to another nominee of the Depositary, to a successor depositary, or to a nominee of a successor depository; provided further, however that in the event that a Warrant surrendered for transfer bears a restrictive legend (as in the case
of the Private Placement Warrants and the 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.

 

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

 

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

 

6. Redemption.

 

6.1 Redemption 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 a Redemption Price of $0.01 per Warrant, provided that
(a) the last reported sale price of the Common Stock for any 20 trading days within a 30-trading day period ending on the
third trading day prior to the date on which the Company sends the notice of redemption to the Registered Holders equals or exceeds
$18.00 per share (subject to adjustment in compliance with Section 4 hereof) and (b) there is an effective registration
statement covering the shares of Common Stock issuable upon exercise of the Warrants, and a current prospectus relating thereto,
available throughout the 30-day Redemption Period (as defined in Section 6.3 below).

 

     

     

    

 

6.2 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 a Redemption Price of $0.10 per Warrant, provided that
the last reported sale price of the Common Stock for any 20 trading days within a 30-trading day period ending on the third trading
day prior to the date on which the Company sends the notice of redemption to the Registered Holders equals or exceeds $10.00 per
share (subject to adjustment in compliance with Section 4 hereof) and, if the last reported sale price of the Common
Stock for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which the Company
sends the notice of redemption to the Registered Holders is less than $18.00 per share, the Private Placement Warrants are also
concurrently exchanged at the same price (equal to a number of shares of Common Stock) 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 Section 6.2,
the “Redemption Fair Market Value” shall mean the volume-weighted average price of the Common Stock as
reported during 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	 	Redemption Date Fair Market Value of Common Stock	 
	(period to expiration
    of warrants)	 	<10.00
	 	 	11.00	 	 	12.00	 	 	13.00	 	 	14.00	 	 	15.00	 	 	16.00	 	 	17.00	 	 	>18.00
	 
	60 months	 	0.261	 	 	0.281	 	 	0.297	 	 	0.311	 	 	0.324	 	 	0.337	 	 	0.348	 	 	0.358	 	 	0.361	 
	57 months	 	0.257	 	 	0.277	 	 	0.294	 	 	0.310	 	 	0.324	 	 	0.337	 	 	0.348	 	 	0.358	 	 	0.361	 
	54 months	 	0.252	 	 	0.272	 	 	0.291	 	 	0.307	 	 	0.322	 	 	0.335	 	 	0.347	 	 	0.357	 	 	0.361	 
	51 months	 	0.246	 	 	0.268	 	 	0.287	 	 	0.304	 	 	0.320	 	 	0.333	 	 	0.346	 	 	0.357	 	 	0.361	 
	48 months	 	0.241	 	 	0.263	 	 	0.283	 	 	0.301	 	 	0.317	 	 	0.332	 	 	0.344	 	 	0.356	 	 	0.361	 
	45 months	 	0.235	 	 	0.258	 	 	0.279	 	 	0.298	 	 	0.315	 	 	0.330	 	 	0.343	 	 	0.356	 	 	0.361	 
	42 months	 	0.228	 	 	0.252	 	 	0.274	 	 	0.294	 	 	0.312	 	 	0.328	 	 	0.342	 	 	0.355	 	 	0.361	 
	39 months	 	0.221	 	 	0.246	 	 	0.269	 	 	0.290	 	 	0.309	 	 	0.325	 	 	0.340	 	 	0.354	 	 	0.361	 
	36 months	 	0.213	 	 	0.239	 	 	0.263	 	 	0.285	 	 	0.305	 	 	0.323	 	 	0.339	 	 	0.353	 	 	0.361	 
	33 months	 	0.205	 	 	0.232	 	 	0.257	 	 	0.280	 	 	0.301	 	 	0.320	 	 	0.337	 	 	0.352	 	 	0.361	 
	30 months	 	0.196	 	 	0.224	 	 	0.250	 	 	0.274	 	 	0.297	 	 	0.316	 	 	0.335	 	 	0.351	 	 	0.361	 
	27 months	 	0.185	 	 	0.214	 	 	0.242	 	 	0.268	 	 	0.291	 	 	0.313	 	 	0.332	 	 	0.350	 	 	0.361	 
	24 months	 	0.173	 	 	0.204	 	 	0.233	 	 	0.260	 	 	0.285	 	 	0.308	 	 	0.329	 	 	0.348	 	 	0.361	 
	21 months	 	0.161	 	 	0.193	 	 	0.223	 	 	0.252	 	 	0.279	 	 	0.304	 	 	0.326	 	 	0.347	 	 	0.361	 
	18 months	 	0.146	 	 	0.179	 	 	0.211	 	 	0.242	 	 	0.271	 	 	0.298	 	 	0.322	 	 	0.345	 	 	0.361	 
	15 months	 	0.130	 	 	0.164	 	 	0.197	 	 	0.230	 	 	0.262	 	 	0.291	 	 	0.317	 	 	0.342	 	 	0.361	 
	12 months	 	0.111	 	 	0.146	 	 	0.181	 	 	0.216	 	 	0.250	 	 	0.282	 	 	0.312	 	 	0.339	 	 	0.361	 
	9 months	 	0.090	 	 	0.125	 	 	0.162	 	 	0.199	 	 	0.237	 	 	0.272	 	 	0.305	 	 	0.336	 	 	0.361	 
	6 months	 	0.065	 	 	0.099	 	 	0.137	 	 	0.178	 	 	0.219	 	 	0.259	 	 	0.296	 	 	0.331	 	 	0.361	 
	3 months	 	0.024	 	 	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 (as defined below) 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 will 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 Exercise 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 exercise price of the warrant after such adjustment
and the denominator of which is the price of the warrant immediately prior to such adjustment. In such an event, the number of
shares in the table above shall be adjusted by multiplying such share amounts 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. If the Exercise Price is adjusted, (a) in the case of an
adjustment pursuant to Section 4.4 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 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 Section 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 Exercise Price pursuant to such Exercise 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 Sections 6.1
or 6.2, the Company shall fix a date for the redemption (the “Redemption Date”). Notice of redemption
shall be mailed by first class mail, postage prepaid, by the Company not less than thirty (30) days prior to the Redemption Date
(the “30-day Redemption Period”) to the Registered Holders of the Warrants to be redeemed at their last
addresses as they shall appear on the registration books. Any notice mailed in the manner herein provided shall be conclusively
presumed to have been duly given whether or not the Registered Holder received such notice. As used in this Agreement, “Redemption
Price” shall mean the price per Warrant at which any Warrants are redeemed pursuant to Section 6.1 or
Section 6.2 hereof.

 

6.4 Exercise After
Notice of Redemption. The Warrants may be exercised, for cash (or on a “cashless basis” in accordance with Section 6.2
of this Agreement) at any time after notice of redemption shall have been given by the Company pursuant to Section 6.3
hereof and prior to the Redemption Date. On and after the Redemption Date, the record holder of the Warrants shall have no further
rights except to receive, upon surrender of the Warrants, the Redemption Price.

 

6.5 Exclusion of Private
Placement Warrants and Working Capital Warrants. The Company agrees that the redemption rights provided in Section 6.1
hereof shall not apply to the Private Placement Warrants, the Working Capital Warrants or the Post-IPO Warrants (if such Post-IPO
Warrants provide that they are non-redeemable by the Company for cash) if at the time of the redemption such Private Placement
Warrants, Working Capital Warrants or Post-IPO Warrants continue to be held by the original purchasers thereof or their Permitted
Transferees. However, once such Private Placement Warrants, Working Capital Warrants or Post-IPO Warrants are transferred (other
than to Permitted Transferees in accordance with Section 2.6 hereof), the Company may redeem the Private Placement
Warrants, Working Capital Warrants or Post-IPO Warrants pursuant to Section 6.1 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 such Private Placement Warrants, Working Capital Warrants or Post-IPO Warrants prior to redemption
pursuant to Section 6.4 hereof. Private Placement Warrants, 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.

 

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 commercially reasonable efforts to file with the Commission
a registration statement for the registration, under the Securities Act, of the shares of Common Stock issuable upon exercise of
the Warrants. The Company shall use its commercially reasonable efforts to cause the same to become effective within 60 Business
Days after the closing of the Company’s initial Business Combination 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 applicable 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 applicable 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 lesser of (A) 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
and (B) 0.361 per whole Warrant. Solely for purposes of this subsection 7.4.1, “Fair Market Value” shall
mean the average reported last sale price of the Common Stock as reported during the ten (10) trading day period ending on
the third trading day prior to the date that notice of exercise is received by the Warrant Agent from the holder of such Warrants
or his, her or its securities broker or intermediary. The date that notice of cashless exercise is received by the Warrant Agent
shall be conclusively determined by the Warrant Agent. In connection with the “cashless exercise” of a Public Warrant,
the Company shall, upon request, provide the Warrant Agent with an opinion of counsel for the Company (which shall be an outside
law firm with securities law experience) stating that (i) the exercise of the Warrants on a cashless basis in accordance with
this subsection 7.4.1 is not required to be registered under the Securities Act and (ii) the 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 statute)) 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 shares of Common Stock are at the time of any exercise of a Public Warrant not listed on a national securities
exchange such that they satisfy the definition of a “covered security” under Section 18(b)(1) of the Securities
Act, the Company may, at its option, (i) require holders of Public Warrants who exercise Public Warrants to exercise such
Public Warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act as described
in subsection 7.4.1 and (ii) in the event the Company so elects, the Company shall (x) not be required to file or maintain
in effect a registration statement for the registration, under the Securities Act, of the shares of Common Stock issuable upon
exercise of the Warrants, notwithstanding anything in this Agreement to the contrary, and (y) use its commercially reasonable
efforts to register or qualify for sale the shares of Common Stock issuable upon exercise of the Public Warrant under applicable
blue sky laws 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 court, shall be a corporation
or other entity organized and existing under the laws of the State of New York, in good standing and having its principal office
in the United States of America, 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 entity into which the Warrant Agent may be merged or with which it may be consolidated
or any entity 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, President, Secretary or Chairman
of the Board of the Company and delivered to the Warrant Agent. The Warrant Agent may rely upon such statement for any action taken
or suffered in good faith by it pursuant to the provisions of this Agreement.

 

     

     

    

 

8.4.2 Indemnity.
The Warrant Agent shall be liable hereunder only for its own gross negligence, willful misconduct, fraud or bad faith. The Company
agrees to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, out-of-pocket
costs and reasonable outside 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, fraud 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, addressed (until another address
is filed in writing by the Company with the Warrant Agent), as follows:

 

Hamilton Lane Alliance Holdings I, Inc.

1 Presidential Blvd., Floor 4

Bala Cynwyd, PA 19004

Attn: Adam Shane

Email: ashane@hamiltonlane.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

Attn: Compliance Department

 

With a copy in each case to:

 

Ropes & Gray LLP

1211 Avenue of the Americas

New York, NY 10036

Attention: Paul Tropp and Emily Oldshue

Email: paul.tropp@ropesgray.com, michael.littenberg@ropesgray.com

 

and

 

J.P. Morgan Securities, LLC

383 Madison Avenue

New York, NY 10179

Attn: [●]

 

and

 

Morgan Stanley & Co.
LLC

1585 Broadway

New York, NY 10036

Attn: [●]

 

and

 

Davis Polk & Wardwell LLP

450 Lexington Avenue

New York, New York 10017

Attn: Richard D. Truesdell and Derek J. Dostal

Email: richard.truesdell@davispolk.com, derek.dostal@davispolk.com

 

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 the exclusive
forum for any such action, proceeding or claim. The Company hereby waives any objection to such jurisdiction and that such courts
represent an inconvenient forum. Notwithstanding the foregoing, the provisions of this paragraph will not apply to suits brought
to enforce any liability or duty created by the Exchange Act or any other claim for which the federal district courts of the United
States of America are the sole and exclusive forum.

 

Any
person or entity purchasing or otherwise acquiring any interest in the Warrants shall be deemed to have notice of and to have consented
to the forum provisions in this Section 9.3. If any action, the subject matter of which is within the scope of the forum provisions
above, is filed in a court other than a court located within the State of New York or the United States District Court for the
Southern District of New York (a “foreign action”) in the name of any warrant holder, such warrant holder shall be
deemed to have consented to: (x) the personal jurisdiction of the state and federal courts located within the State of New
York or the United States District Court for the Southern District of New York in connection with any action brought in any such
court to enforce the forum provisions (an “enforcement action”), and (y) having service of process made upon such
warrant holder in any 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, corporation
or other entity 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. A signed
copy of this Agreement delivered by facsimile, e-mail or other means of electronic transmission shall be deemed to have the same
legal effect as delivery of an original signed copy of this Agreement.

 

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 (i) for the purpose of curing
any ambiguity or to correct any 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 curing, correcting or supplementing any defective provision contained herein
or adding or changing any other provisions with respect to matters or questions arising under this Agreement as the parties may
deem necessary or desirable and that the parties deem shall not adversely affect the interest of the Registered Holders, and (ii) to
provide for the delivery of Alternative Issuance pursuant to Section 4.4. All other modifications or amendments, including
any amendment to increase the Warrant Price or shorten the Exercise Period, shall require the vote or written consent of the Registered
Holders of 50% of the then outstanding Public Warrants and, solely with respect to any amendment to the terms of the Private Placement
Warrants or Working Capital Warrants or any provision of this Agreement with respect to the Private Placement Warrants or Working
Capital Warrants, 50% of the number of then outstanding Private Placement Warrants and Working Capital Warrants. Notwithstanding
the foregoing, the Company may lower the Warrant Price or extend the duration of the Exercise Period pursuant to Sections 3.1
and 3.2, respectively, without the consent of the Registered Holders.

 

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

 

Exhibit A – Form of Warrant
Certificate

Exhibit B – Legend

 

[Signature Page Follows]

 

     

     

    

 

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

 

	 	HAMILTON LANE ALLIANCE HOLDINGS I, INC.
	 	 
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent
	 	 	 
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

[Signature
Page to Warrant Agreement]

 

     

     

    

 

EXHIBIT A

 

[Form of Warrant Certificate]

 

[FACE]

 

Number

 

Warrants

 

THIS
WARRANT SHALL BE VOID IF NOT EXERCISED PRIOR TO

THE EXPIRATION OF THE EXERCISE PERIOD PROVIDED FOR

IN THE WARRANT AGREEMENT DESCRIBED BELOW

HAMILTON LANE ALLIANCE HOLDINGS I, INC.

Incorporated Under the Laws of the State
of Delaware

 

CUSIP [__________]

 

Warrant Certificate

 

This Warrant
Certificate certifies that __________, or its 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 Hamilton Lane Alliance Holdings I, Inc.,
a Delaware corporation (the “Company”). Each Warrant entitles the holder, upon exercise during the period
set forth in the Warrant Agreement referred to below, to receive from the Company that number of fully paid and non-assessable
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 Warrants, a holder would be entitled to receive a fractional interest in a share
of Common Stock, the Company will, upon exercise, round down to the nearest whole number the number of shares of Common Stock to
be issued to the Warrant 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.

 

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.

 

     

     

    

 

	 	HAMILTON LANE ALLIANCE HOLDINGS I, INC.
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

     

     

    

 

[Form of Warrant Certificate]

 

[Reverse]

 

The Warrants evidenced
by this Warrant Certificate are part of a duly authorized issue of Warrants entitling the holder on exercise to receive 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 limited purpose trust company, 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,
respectively) of the Warrants. A copy of the Warrant Agreement may be obtained by the holder hereof upon written request to the
Company. Defined terms used in this Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant
Agreement.

 

Warrants may be exercised
at any time during the Exercise Period set forth in the Warrant Agreement. The holder of Warrants evidenced by this Warrant Certificate
may exercise them by surrendering this Warrant Certificate, with the form of election to purchase set forth hereon properly completed
and executed, together with payment of the 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 issuance of 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.

 

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.

 

     

     

    

 

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 Hamilton Lane Alliance Holdings I, Inc. (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 of Common Stock 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]

 

     

     

    

 

	Date: 	 	, 20	 	 

	 	 	(Signature)
	 	 	 
	 	 	(Address)
	 	 	 
	 	 	(Tax Identification Number)
	 	 	 
	Signature Guaranteed:	 	 

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

 

     

     

    

 

EXHIBIT B

 

LEGEND

 

“THE SECURITIES
REPRESENTED HEREBY 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 HAMILTON LANE ALLIANCE
HOLDINGS I, INC. (THE “COMPANY”), HL ALLIANCE HOLDINGS SPONSOR LLC AND THE OTHER PARTIES THERETO, THE SECURITIES
REPRESENTED HEREBY 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
HEREBY 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 AND STOCKHOLDER RIGHTS AGREEMENT TO BE EXECUTED BY THE COMPANY.”

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