Document:

Exhibit 10.1

 

June 15, 2021

 

Rice Acquisition Corp. II

102 East Main Street, Second Story

Carnegie, Pennsylvania 15106

 

Re:Initial Public Offering

 

Ladies and Gentlemen:

 

This letter (this “Letter
Agreement”) is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
entered into by and among Rice Acquisition Corp. II, a Cayman Islands exempted company (the “Company”), and
Citigroup Global Markets Inc. and Barclays Capital Inc., as representatives (the “Representatives”) of the several
underwriters (the “Underwriters”), relating to an underwritten initial public offering (the “Public
Offering”), of up to 34,500,000 of the Company’s units (including up to 4,500,000 units which may be purchased to
cover over-allotments, if any) (the “Units”), each comprised of one of the Company’s Class A ordinary
shares, par value $0.0001 per share (the “Class A Ordinary Shares”), and one-fourth of one redeemable warrant
(each whole warrant, a “Public Warrant”). Each Public Warrant entitles the holder thereof to purchase one of
the Class A Ordinary Shares at a price of $11.50 per share, subject to adjustment. The Units shall be sold in the Public Offering pursuant
to the registration statement on Form S-1 (File No. 333-254080) and prospectus (the “Prospectus”) filed by the
Company with the Securities and Exchange Commission (the “Commission”) and the Company shall apply to have the
Units listed on the New York Stock Exchange. Certain capitalized terms used herein are defined in paragraph 11 hereof.

 

In order to induce the Company
and the Underwriters to enter into the Underwriting Agreement and to proceed with the Public Offering and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, Rice Acquisition Sponsor II LLC, a Delaware limited liability
company (“Sponsor”), and each of the undersigned individuals, each of whom is a member of the Company’s
board of directors and/or management team (each an “Insider” and, collectively, the “Insiders”),
hereby agrees with the Company as follows:

 

1.
The Sponsor and each Insider agrees that if the Company seeks shareholder approval of a proposed Business Combination, then in
connection with such proposed Business Combination, it, he or she shall vote all Founder Units, Sponsor Units and any shares acquired
by it, him or her in the Public Offering or the secondary public market in favor of such proposed Business Combination (including any
proposals recommended by the Company’s board of directors in connection with such Business Combination and not redeem any such shares
owned by it, him or her in connection with such shareholder approval.

 

     

     

    

 

2.
The Sponsor and each Insider hereby agrees that in the event that the Company fails to consummate a Business Combination within
24 months from the closing of the Public Offering, or such later period approved by the Company’s shareholders in accordance with
the Company’s amended and restated memorandum and articles of association, the Sponsor and each Insider shall take all reasonable
steps to cause the Company to (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but
not more than 10 business days thereafter, subject to lawfully available funds therefor, redeem 100% of the Class A Ordinary Shares and
the Class A Units of Rice Acquisition Holdings II LLC, a Cayman Islands limited liability company (“Opco”),
(the “Offering Shares”), at a per-share price, payable in cash, equal to the aggregate amount then on deposit
in the Trust Account, including interest not previously released to Opco to pay franchise and income taxes of Opco or the Company (less
up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Offering Shares, which redemption will
completely extinguish Public Shareholders’ rights as shareholders or unitholders (including the right to receive further liquidation
distributions, if any), subject to applicable law and (iii) as promptly as reasonably possible following such redemption, subject to the
approval of the Company’s remaining shareholders and the Company’s board of directors, dissolve and liquidate, subject in
each case to the Company’s obligations under Cayman Islands law to provide for claims of creditors and other requirements of applicable
law. The Sponsor and each Insider agree to not propose any amendment to the Company’s amended and restated memorandum and articles
of association that would affect the substance or timing of the obligation to provide holders of the Offering Shares the right to have
their shares redeemed in connection with an initial Business Combination or to redeem 100% of the Offering Shares if the Company does
not complete an initial Business Combination within 24 months from the closing of the Public Offering; unless the Company provides its
Public Shareholders with the opportunity to redeem their Offering Shares upon approval of any such amendment at a per share price, payable
in cash, equal to the aggregate amount then on deposit in the Trust Account including interest earned on the funds held in the Trust Account
and not previously released to Opco to pay franchise and income taxes of Opco or the Company, divided by the number of then outstanding
Offering Shares.

 

The Sponsor and each Insider
acknowledges that it, he or she has no right, title, interest or claim of any kind in or to any monies held in the Trust Account or any
other asset of the Company or Opco as a result of any liquidation of the Company or Opco with respect to the Founder Units. The Sponsor
and each Insider hereby further waives, with respect to any Founder Units, Sponsor Units or Class A Ordinary Shares held by it, him or
her, any redemption rights it, he or she may have in connection with the consummation of a Business Combination, including, without limitation,
any such rights available in the context of a shareholder vote to approve such Business Combination or in the context of a tender offer
made by the Company to purchase the Class A Ordinary Shares or Class A Units of Opco and in connection with a shareholder vote to amend
the Company’s amended and restated memorandum and articles of association in a manner that would affect the substance or timing
of the Company’s obligation to provide holders of the Offering Shares the right to have their shares redeemed in connection with
an initial Business Combination or redeem 100% of the Offering Shares if the Company has not consummated an initial Business Combination
within 24 months from the closing of the Public Offering (although the Sponsor, the Insiders and their respective affiliates shall be
entitled to redemption and liquidation rights with respect to any Sponsor Units and Class A Ordinary Shares purchased in or after the
Public Offering it or they hold if the Company fails to consummate a Business Combination within 24 months from the date of the closing
of the Public Offering or such later date as may be specified in an amendment to the Company’s amended and restated memorandum and
articles of association).

 

    2 

     

    

 

3.
During the period commencing on the effective date of the Underwriting Agreement and ending 180 days after such date, the undersigned
shall not, without the prior written consent of the Representatives, (i) sell, offer to sell, contract or agree to sell, hypothecate,
pledge, grant any option to purchase or otherwise dispose of or agree to dispose of, directly or indirectly, or establish or increase
a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities Exchange
Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder, any Units, Class A Ordinary Shares, Founder
Units, Sponsor Units, Warrants or any securities convertible into, or exercisable, or exchangeable for, Class A Ordinary Shares or Class
A Units of Opco owned by him, her or it; provided, however, that the foregoing shall not apply to transfers to the Sponsor by the Insiders,
(ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership
of any Units, Class A Ordinary Shares, Founder Units, Sponsor Units, Warrants or any securities convertible into, or exercisable, or exchangeable
for, Class A Ordinary Shares or Class A Units of Opco owned by him, her or it, whether any such transaction is to be settled by delivery
of such securities, in cash or otherwise or (iii) publicly announce any intention to effect any transaction specified in clause (i) or
(ii). If the undersigned is an officer or director of the Company, the undersigned further agrees that the forgoing restrictions shall
be equally applicable to any issuer-directed Units that the undersigned may purchase in the Public Offering.

 

4.
In the event of the liquidation of the Trust Account, the Sponsor (which for purposes of clarification shall not extend to any
officer, member or manager of the Sponsor) agrees to indemnify and hold harmless the Company and Opco against any and all loss, liability,
claim, damage and expense whatsoever (including, but not limited to, any and all legal or other expenses reasonably incurred in investigating,
preparing or defending against any litigation, whether pending or threatened, or any claim whatsoever) to which the Company or Opco may
become subject as a result of any claim by (i) any third party (other than the Company’s independent public accountants) for services
rendered or products sold to the Company or Opco or (ii) a prospective target business with which the Company or Opco has entered into
a letter of intent, confidentiality or other similar agreement or business combination agreement (a “Target”);
provided, however, that such indemnification of the Company and Opco by the Sponsor shall apply only to the extent necessary to ensure
that such claims by a third party for services rendered (other than the Company’s independent public accountants) or products sold
to the Company or Opco or a Target do not reduce the amount of funds in the Trust Account to below the lesser of (i) $10.00 per share
of the Offering Shares and (ii) the actual amount per share of the Offering Shares held in the Trust Account due to reductions in the
value of the trust assets as of the date of the liquidation of the Trust Account, in each case including interest earned on the funds
held in the Trust Account and not previously released to Opco to pay franchise and income taxes of the Company or Opco, less franchise
and income taxes payable by the Company or Opco, except as to any claims by a third party or Target that executed an agreement waiving
claims against and all rights to seek access to the Trust Account whether or not such agreement is enforceable. In the event that any
such executed waiver is deemed to be unenforceable against such third party, the Sponsor shall not be responsible for any liability as
a result of any such third party claims. Notwithstanding any of the foregoing, such indemnification of the Company or Opco by the Sponsor
shall not apply as to any claims under the Company’s obligation to indemnify the Underwriters against certain liabilities, including
liabilities under the Securities Act of 1933, as amended (the “Securities Act”). The Sponsor shall have the
right to defend against any such claim with counsel of its choice reasonably satisfactory to the Company if, within 15 days following
written receipt of notice of the claim to the Sponsor, the Sponsor notifies the Company in writing that it shall undertake such defense.

 

    3 

     

    

 

5.
To the extent that the Underwriters do not exercise their option to purchase additional Units within 45 days from the date of the
Prospectus in full (as further described in the Prospectus), the Sponsor agrees to automatically surrender to the Company for no consideration,
for cancellation at no cost, an aggregate number of Founder Units so that the number of Founder Units will equal 20% of the sum of the
total number of Ordinary Shares and Founder Units outstanding at such time (excluding the Sponsor Units and any Ordinary Shares issuable
upon exercise of any Warrants). The Sponsor and Insiders further agree that to the extent that the size of the Public Offering is increased
or decreased, the Company will effect a share capitalization or a share repurchase, as applicable, with respect to the Founder Units immediately
prior to the consummation of the Public Offering in such amount as to maintain the number of Founder Units at 20% of the sum of the total
number of Ordinary Shares and Founder Units outstanding at such time (excluding the Sponsor Units and any Ordinary Shares issuable upon
exercise of any Warrants).

 

6.
The Sponsor and each Insider hereby agrees and acknowledges that: (i) each of the Underwriters and the Company would be irreparably
injured in the event of a breach by such Sponsor or Insider of his, her or its obligations under paragraphs 7(a) and 7(b), (ii) monetary
damages may not be an adequate remedy for such breach and (iii) the non-breaching party shall be entitled to injunctive relief, in addition
to any other remedy that such party may have in law or in equity, in the event of such breach.

 

7.
(a)Subject to the exceptions set forth herein, the Sponsor and each Insider agrees not to transfer, assign or sell any Founder
Units or Sponsor Units held by it, him or her until one year after the date of the consummation of a Business Combination or earlier if,
subsequent to a Business Combination, (i) the last sale price of the Class A Ordinary Shares equals or exceeds $12.00 per share (as adjusted
for s share sub-divisions, share capitalizations, share consolidations, reorganizations, recapitalizations and other similar transactions)
for any 20 trading days within any 30-trading day period commencing at least 150 days after the consummation of a Business Combination
or (ii) the Company consummates a subsequent liquidation, merger, share exchange or other similar transaction which results in all of
the Company’s shareholders having the right to exchange their Ordinary Shares for cash, securities or other property (the “Lock-up”).

 

(b)
Subject to the exceptions set forth herein, the Sponsor and each Insider agrees not to transfer, assign or sell any Private Placement
Warrants, or Class A Ordinary Shares or Class A Units, if applicable, of Opco underlying such warrants held by it, him or her, until 30
days after the completion of a Business Combination.

 

    4 

     

    

 

(c)
Notwithstanding the provisions set forth in paragraphs 7(a) and (b), transfers of the Founder Units, Sponsor Units, Private Placement
Warrants and shares of Class A Ordinary Shares or Class A Units of Opco, if applicable, issuable upon the exercise of the Private Placement
Warrants or the Founder Units and that are held by the Sponsor, any Insider or any of their permitted transferees, as applicable, (that
have complied with any applicable requirements of this paragraph 7(c)) are permitted (a) in the case of the Sponsor, any Insider or any
of their permitted transferees, to the Company’s officers or directors, any affiliates or family members of any of the Company’s
officers or directors, the Sponsor, any members or partners of the Sponsor or their affiliates, any affiliates of the Sponsor, or any
employees of such affiliates; (b) in the case of an individual, by gift to members of the individual’s immediate family or to a
trust, the beneficiary of which is a member of one of the individual’s immediate family, an affiliate of such person or to a charitable
organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon death of the individual; (d) in the
case of an individual, pursuant to a qualified domestic relations order; (e) by virtue of the laws of the Cayman Islands or the Sponsor’s
operating agreement upon dissolution of the Sponsor; (f) by private sales or transfers made in connection with the consummation of a Business
Combination at prices no greater than the price at which the securities were originally purchased; (g) in the event of the Company’s
liquidation prior to the completion of a Business Combination; or (h) in the event of completion of a liquidation, merger, share exchange
or other similar transaction which results in all of the Company’s shareholders having the right to exchange their Ordinary Shares
for cash, securities or other property subsequent to the completion of a Business Combination; provided, however, that in the case of
clauses (a) through (f), these permitted transferees must enter into a written agreement agreeing to be bound by these transfer restrictions.

 

    5 

     

    

 

8.
Each Insider’s biographical information furnished to the Company that is included in the Prospectus is true and accurate
in all material respects and does not omit any material information with respect to such Insider’s background. Each Insider’s
questionnaire furnished to the Company is true and accurate in all material respects. Each Insider represents and warrants that: such
Insider is not subject to or a respondent in any legal action for, any injunction, cease-and-desist order or order or stipulation to desist
or refrain from any act or practice relating to the offering of securities in any jurisdiction; such Insider has never been convicted
of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any financial transaction or handling of funds of another person
or (iii) pertaining to any dealings in any securities and such Insider is not currently a defendant in any such criminal proceeding; and
the Sponsor or any such Insider has never been suspended or expelled from membership in any securities or commodities exchange or association
or had a securities or commodities license or registration denied, suspended or revoked.

 

9.
Except as disclosed in the Prospectus, none of the Sponsor, any affiliate of the Sponsor, or any director or officer of the Company,
shall receive any finder’s fee, reimbursement, consulting fee, monies in respect of any repayment of a loan or other compensation
prior to, or in connection with any services rendered in order to effectuate the consummation of the Company’s initial Business
Combination (regardless of the type of transaction that it is). However, such persons may receive the following payments, none of which
will be made from the proceeds held in the Trust Account prior to the completion of the initial Business Combination: repayment of a loan
of up to $300,000 made to Opco by the Sponsor, pursuant to a Promissory Note dated February 8, 2021; payment of an aggregate of $10,000
per month, to the Sponsor, for office space, utilities, secretarial support and administrative services, pursuant to an Administrative
Services Agreement, dated June 15, 2021; reimbursement for any out-of-pocket expenses related to identifying, investigating, negotiating
and consummating an initial Business Combination; and repayment of loans, if any, and on such terms as to be determined by the Company
from time to time, made by the Sponsor or an affiliate of the Sponsor or certain of the Company’s officers and directors to finance
transaction costs in connection with an intended initial Business Combination, provided, that, if the Company does not consummate an initial
Business Combination, a portion of the working capital held outside the Trust Account may be used by the Company to repay such loaned
amounts so long as no proceeds from the Trust Account are used for such repayment. Up to $1,500,000 of such loans may be convertible into
warrants at a price of $1.00 per warrant at the option of the lender. Such warrants would be identical to the Private Placement Warrants,
including as to exercise price, exercisability and exercise period.

 

    6 

     

    

 

10.
The Sponsor and each Insider has full right and power, without violating any agreement to which it, he or she is bound (including,
without limitation, any non-competition or non-solicitation agreement with any employer or former employer), to enter into this Letter
Agreement, as applicable, and to serve as an officer of the Company and/or a director on the Company’s board of directors, as applicable,
and each Insider hereby consents to being named in the Prospectus, road show and any other materials as an officer and/or director of
the Company, as applicable.

 

11.
As used herein, (i) “Business Combination” shall mean a merger, share exchange, asset acquisition, share
purchase, reorganization or similar business combination, involving the Company and one or more businesses; (ii) “Private
Placement Warrants” shall mean the warrants to purchase 10,000,000 Class A Ordinary Shares or, in certain circumstances,
Class A Units of Opco (with a corresponding number of the Company’s Class B ordinary shares, par value $0.0001 per share (“Class
B Ordinary Shares” and together with Class A Ordinary Shares, “Ordinary Shares”)) (or 10,900,000
Class A Ordinary Shares or Class A Units of Opco (with a corresponding number of Class B Ordinary Shares) if the Underwriters’ over-allotment
option in connection with the Public Offering is exercised in full), that the Sponsor has agreed to purchase for an aggregate purchase
price of approximately $10,000,000 (or approximately $10,900,000 if the Underwriters’ overallotment option in connection with the
Public Offering is exercised in full), or $1.00 per warrant, in a private placement that shall occur simultaneously with the consummation
of the Public Offering; (iv) “Public Shareholders” shall mean the holders of Class A Ordinary Shares and the
holders of Class A Units of Opco (other than the Company); (v) “Trust Account” shall mean the trust fund into
which a portion of the net proceeds of the Public Offering and the sale of the Private Placement Warrants to the Sponsor shall be deposited;
(vi) “Founder Units” shall mean the Class B Units of Opco initially issued in a private placement to the Sponsor
prior to the Public Offering (or the Class A Units of Opco into which such Class B Units will convert) and a corresponding number of Class
B Ordinary Shares; (vii) “Sponsor Units” shall mean the 100 Class A Units of Opco, and corresponding number
of Class B Ordinary Shares, and the 2,500 Class A Ordinary Shares purchased by Sponsor in a private placement prior to the Public Offering;
and (viii) “Warrants” shall refer to the Public Warrants and the Private Placement Warrants, collectively.

 

12.
This Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter
hereof and supersedes all prior understandings, agreements or representations by or among the parties hereto, written or oral, to the
extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may not be changed,
amended, modified or waived (other than to correct a typographical error) as to any particular provision, except by a written instrument
executed by all parties hereto.

 

    7 

     

    

 

13.
No party hereto may assign either this Letter Agreement or any of its rights, interests or obligations hereunder without the prior
written consent of the other parties. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall
not operate to transfer or assign any interest or title to the purported assignee. This Letter Agreement shall be binding on the Sponsor,
each Insider and each of their respective successors, heirs, personal representatives and assigns and permitted transferees.

 

14.
This Letter Agreement shall be governed by and construed and enforced in accordance with 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
parties hereto (i) all agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Letter Agreement
shall be brought and enforced in the courts of New York City, in the State of New York, and irrevocably submit to such jurisdiction and
venue, which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction and venue or that such
courts represent an inconvenient forum.

 

15.
Any notice, consent or request to be given in connection with any of the terms or provisions of this Letter Agreement shall be
in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand
delivery or facsimile or other electronic transmission.

 

16.
This Letter Agreement shall terminate on the earlier of (i) the expiration of the Lock-up or (ii) the liquidation of the Company.

 

17.
This Letter 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. Signatures
to this Letter Agreement transmitted via facsimile or e-mail shall be valid and effective to bind the party so signing (including any
electronic signature covered by the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act, the Electronic Signatures and
Records Act or other applicable law, e.g., www.docusign.com).

 

18.
This Letter 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 Letter 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 Letter Agreement a provision
as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

19.
The Company will maintain an insurance policy or policies providing directors’ and officers’ liability insurance, and
the Insiders shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage
available for any of the Company’s directors or officers.

 

20.
Each party hereto shall not be liable for any breaches or misrepresentations contained in this Letter Agreement by any other party
to this Letter Agreement (including, for the avoidance of doubt, any Insider with respect to any other Insider), and no party shall be
liable or responsible for the obligations of another party, including, without limitation, indemnification obligations and notice obligations.

 

[Signature Page Follows]

 

    8 

     

    

 

	 	Sincerely,	
	 	RICE ACQUISITION SPONSOR II LLC 
	 	 	 
	 	By:	/s/ Daniel Joseph Rice, IV
	 	 	Name:	 Daniel Joseph Rice, IV
	 	 	Title:	 Chief Executive Officer
	 	 	 
	 	 	/s/ Jide Famuagun

	 	 	Jide Famuagun
	 	 	 
	 	 	/s/ James Lytal
	 	 	James Lytal
	 	 	 
	 	 	/s/ Carrie Fox
	 	 	Carrie Fox
	 	 	 
	 	 	/s/ Daniel Joseph Rice, IV
	 	 	Daniel Joseph Rice, IV
	 	 	 
	 	 	/s/ J. Kyle Derham
	 	 	J. Kyle Derham
	 	 	 
	 	 	/s/ James Wilmot Rogers
	 	 	James Wilmot Rogers

 

	Acknowledged and Agreed:	 
	RICE ACQUISITION CORP. II	 
	 	 
	By:	/s/ Daniel Joseph Rice, IV	 
	 	Name:	 Daniel Joseph Rice, IV	 
	 	Title:	 Chief Executive Officer	 

 

[Signature Page to Letter Agreement]

 

9Exhibit 10.2

 

 

INVESTMENT MANAGEMENT TRUST AGREEMENT

 

This Investment Management
Trust Agreement (this “Agreement”) is made effective as of June 15, 2021, by and among Rice Acquisition Corp.
II, a Cayman Islands exempted company (the “Company”), Rice Acquisition Holdings II LLC, a Cayman Islands limited
liability company (“Opco” and together with the Company, the “SPAC Parties”), and
Continental Stock Transfer & Trust Company, a New York limited purpose trust company (the “Trustee”).

 

WHEREAS, the Company’s
registration statement on Form S-1 (File No. 333-254080) (the “Registration Statement”) and prospectus (the
“Prospectus”) for the initial public offering of the Company’s units (the “Units”),
each of which consists of one of the Company’s Class A ordinary shares, par value $0.0001 per share (the “Class A Ordinary
Shares” and, the holders of Class A Ordinary Shares sold as part of the Units, the “Public Shareholders”),
and one-fourth of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one Class A Ordinary Share (such
initial public offering hereinafter referred to as the “Offering”), has been declared effective as of the date
hereof by the U.S. Securities and Exchange Commission;

 

WHEREAS, prior to the Offering,
the Company issued an additional 2,500 Class A Ordinary Shares to Rice Acquisition Sponsor II LLC, a Delaware limited liability company
(“Sponsor”), and Opco issued 100 Class A Units (“Class A Units”) to Sponsor;

 

WHEREAS, the Company has entered
into an Underwriting Agreement (the “Underwriting Agreement”) with Citigroup Global Markets Inc. and Barclays
Capital Inc. as representatives (the “Representatives”) of the several underwriters (the “Underwriters”)
named therein; and

 

WHEREAS, as described in the
Registration Statement, $300,000,000 of the gross proceeds of the Offering and sale of the Private Placement Warrants (as defined in the
Underwriting Agreement) (or $345,000,000 if the Underwriters’ over-allotment option is exercised in full) will be delivered to the
Trustee to be deposited and held in a segregated trust account located at all times in the United States (the “Trust Account”)
for the benefit of the SPAC Parties and the holders of Class A Ordinary Shares and Class A Units, as hereinafter provided (the amount
to be delivered to the Trustee (and any interest subsequently earned thereon) is referred to herein as the “Property,”
the holders for whose benefit the Trustee shall hold the Property will be referred to as the “Holders,” and
the Holders, the Company and Opco will be referred to together as the “Beneficiaries”); and

 

WHEREAS, pursuant to the Underwriting
Agreement, a portion of the Property equal to $10,500,000 or $12,075,000 if the Underwriters’ over-allotment option is exercised
in full, is attributable to deferred underwriting discounts and commissions that may be payable by the Company to the Underwriters upon
the consummation of the Business Combination (as defined below) (the “Deferred Discount”); and

 

     

     

    

 

WHEREAS, the SPAC Parties
and the Trustee desire to enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee shall hold the
Property.

 

NOW THEREFORE, IT IS AGREED:

 

1.
Agreements and Covenants of Trustee. The Trustee hereby agrees and covenants
to:

 

(a)
Hold the Property in trust for the Beneficiaries in accordance with the terms of this Agreement in the Trust Account established
by the Trustee at J.P. Morgan Chase Bank, N.A. (or at another U.S. chartered commercial bank with consolidated assets of $100 billion
or more) in the United States, maintained by the Trustee and at a brokerage institution selected by the Trustee that is reasonably satisfactory
to the SPAC Parties;

 

(b)
Manage, supervise and administer the Trust Account subject to the terms and conditions set forth herein;

 

(c)
In a timely manner, upon the written instruction of the SPAC Parties, invest and reinvest the Property in United States government
securities within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended, having a maturity of 185 days or
less, or in money market funds meeting the conditions of paragraphs (d)(1), (d)(2), (d)(3) and (d)(4) of Rule 2a-7 promulgated under the
Investment Company Act of 1940, as amended, which invest only in direct U.S. government treasury obligations, as determined by the SPAC
Parties; the Trustee may not invest in any other securities or assets, it being understood that the Trust Account will earn no interest
while account funds are uninvested awaiting the SPAC Parties’ instructions hereunder and while the account funds are invested or
uninvested, the trustee may earn bank credits or other considerations;

 

(d)
Collect and receive, when due, all interest or other income arising from the Property, which shall become part of the “Property,”
as such term is used herein;

 

(e)
Promptly notify the SPAC Parties of all communications received by the Trustee with respect to any Property requiring action by
the SPAC Parties;

 

(f)
Supply any necessary information or documents as may be requested by the SPAC Parties (or their authorized agents) in connection
with the SPAC Parties’ preparation of the tax returns relating to assets held in the Trust Account;

 

(g)
Participate in any plan or proceeding for protecting or enforcing any right or interest arising from the Property if, as and when
instructed by the SPAC Parties to do so;

 

(h)
Render to the SPAC Parties monthly written statements of the activities of, and amounts in, the Trust Account reflecting all receipts
and disbursements of the Trust Account;

 

(i)
Commence liquidation of the Trust Account only after and promptly after (x) receipt of, and only in accordance with, the terms
of a letter from the SPAC Parties (“Termination Letter”) in a form substantially similar to that attached hereto
as either Exhibit A or Exhibit B, as applicable, signed on behalf of each of the SPAC Parties, by the Chief Executive Officer, President,
Chief Financial Officer, Secretary or Chairman of the board of directors (the “Board”) or other authorized officer,
as applicable, and complete the liquidation of the Trust Account and distribute the Property in the Trust Account, including interest
not previously released to Opco to pay franchise and income taxes (less up to $100,000 of interest that may be released to Opco to pay
dissolution expenses), only as directed in the Termination Letter and the other documents referred to therein, or (y) upon the date which
is the later of (1) 24 months after the closing of the Offering and (2) such later date as may be approved by the Company’s shareholders
in accordance with the Company’s amended and restated memorandum and articles of association, if a Termination Letter has not been
received by the Trustee prior to such date, in which case the Trust Account shall be liquidated in accordance with the procedures set
forth in the Termination Letter attached as Exhibit B and the Property in the Trust Account, including interest not previously released
to Opco to pay franchise and income taxes (less up to $100,000 of interest that may be released to Opco to pay dissolution expenses) shall
be distributed to the Holders of record as of such date;

 

    2

     

    

 

(j)
Upon joint written request from the SPAC Parties, which may be given from time to time in a form substantially similar to that
attached hereto as Exhibit C (a “Tax Payment Withdrawal Instruction”), withdraw from the Trust Account and distribute
to Opco the amount of interest earned on the Property requested by the SPAC Parties to cover any income or franchise tax obligation owed
by the SPAC Parties as a result of assets of the SPAC Parties or interest or other income earned on the Property, which amount shall be
delivered directly to Opco by electronic funds transfer or other method of prompt payment, and Opco shall forward such payment to the
relevant taxing authority; provided, however, that to the extent there is not sufficient cash in the Trust Account to pay such tax obligation,
the Trustee shall liquidate such assets held in the Trust Account as shall be designated by the SPAC Parties in writing to make such distribution;
provided, further, that if the tax to be paid is a franchise tax, the written request by the SPAC Parties to make such distribution shall
be accompanied by a copy of the franchise tax bill from the State of Delaware and a written statement from the principal financial officer
of each of the SPAC Parties setting forth the actual amount payable. The written request of the SPAC Parties referenced above shall constitute
presumptive evidence that Opco is entitled to said funds, and the Trustee shall have no responsibility to look beyond said request;

 

(k)
Upon joint written request from the SPAC Parties, which may be given from time to time in a form substantially similar to that
attached hereto as Exhibit D (a “Shareholder Redemption Withdrawal Instruction”), the Trustee shall distribute
on behalf of the SPAC Parties the amount requested by the SPAC Parties to be used to redeem Class A Ordinary Shares from Public Shareholders
properly submitted in connection with a shareholder vote to approve an amendment to the Company’s amended and restated memorandum
and articles of association that would affect the substance or timing of the Company’s obligation to redeem 100% of its public Class
A Ordinary Shares if the Company has not consummated an initial Business Combination within such time as is described in the Company’s
amended and restated memorandum and articles of association. The written request of the SPAC Parties referenced above shall constitute
presumptive evidence that the SPAC Parties are entitled to distribute said funds, and the Trustee shall have no responsibility to look
beyond said request; and

 

(l)
Not make any withdrawals or distributions from the Trust Account other than pursuant to Section 1(i), 1(j) or 1(k) above.

 

    3

     

    

 

2.
Agreements and Covenants of the Company and Opco. Each of the Company
and Opco, jointly and severally, hereby agrees and covenants to:

 

(a)
Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chairperson of the Board, President, Chief
Executive Officer, Chief Financial Officer or Secretary on behalf of the Company, in its individual capacity and in its capacity as managing
member of Opco. In addition, except with respect to its duties under Sections 1(i), 1(j) and 1(k) hereof, the Trustee shall be entitled
to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable
care, believes to be given by any one of the persons authorized above to give written instructions, provided that such SPAC Party shall
promptly confirm such instructions in writing;

 

(b)
Subject to Section 4 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including
reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in
connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim
or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any
interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful
misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding,
pursuant to which the Trustee intends to seek indemnification under this Section 2(b), it shall notify the SPAC Parties in writing of
such claim (hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct
and manage the defense against such Indemnified Claim; provided that the Trustee shall obtain the consent of the SPAC Parties with respect
to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim
without the prior written consent of the SPAC Parties, which such consent shall not be unreasonably withheld. The Company and Opco may
participate in such action with its own counsel;

 

(c)
Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee, and transaction
processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property
shall not be used to pay such fees unless and until it is distributed to Opco pursuant to Sections 1(i) through 1(k) hereof. Opco shall
pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. Neither SPAC Party
shall be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(c), Schedule A and as may be provided
in Section 2(b) hereof;

 

(d)
In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase,
reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”),
provide to the Trustee an affidavit or certificate of the inspector of elections for the shareholder meeting verifying the vote of such
shareholders regarding such Business Combination;

 

    4

     

    

 

(e)
Provide the Representatives with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee
with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;

 

(f)
Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the
Trustee to make any distributions that are not permitted under this Agreement; and

 

(g)
Within five (5) business days after the Representatives exercise the overallotment option (or any unexercised portion thereof)
or such over-allotment option expires, provide the Trustee with a notice in writing (with a copy to the Representatives) of the total
amount of the Deferred Discount.

 

3.
Limitations of Liability. The Trustee shall have no responsibility
or liability to:

 

(a)
Imply obligations, perform duties, inquire or otherwise be subject to the provisions of any agreement or document other than this
Agreement and that which is expressly set forth herein;

 

(b)
Take any action with respect to the Property, other than as directed in Section 1 hereof, and the Trustee shall have no liability
to any party except for liability arising out of the Trustee’s gross negligence, fraud or willful misconduct;

 

(c)
Institute any proceeding for the collection of any principal and income arising from, or institute, appear in or defend any proceeding
of any kind with respect to, any of the Property unless and until it shall have received instructions from the SPAC Parties given as provided
herein to do so and Opco shall have advanced or guaranteed to it funds sufficient to pay any expenses incident thereto;

 

(d)
Refund any depreciation in principal of any Property;

 

(e)
Assume that the authority of any person designated by the Company or Opco to give instructions hereunder shall not be continuing
unless provided otherwise in such designation, or unless the Company or Opco shall have delivered a written revocation of such authority
to the Trustee;

 

(f)
The other parties hereto or to anyone else for any action taken or omitted by it, or any action suffered by it to be taken or omitted,
in good faith and in the Trustee’s best judgment, except for the Trustee’s gross negligence, fraud or willful misconduct.
The Trustee may rely conclusively and shall be protected in acting upon any order, notice, demand, certificate, opinion or advice of counsel
(including counsel chosen by the Trustee, which counsel may be the Company’s counsel), statement, instrument, report or other paper
or document (not only as to its due execution and the validity and effectiveness of its provisions, but also as to the truth and acceptability
of any information therein contained) which the Trustee believes, in good faith and with reasonable care, to be genuine and to be signed
or presented by the proper person or persons. The Trustee shall not be bound by any notice or demand, or any waiver, modification, termination
or rescission of this Agreement or any of the terms hereof, unless evidenced by a written instrument delivered to the Trustee, signed
by the proper party or parties and, if the duties or rights of the Trustee are affected, unless it shall give its prior written consent
thereto;

 

    5

     

    

 

(g)
Verify the accuracy of the information contained in the Registration Statement;

 

(h)
Provide any assurance that any Business Combination entered into by the Company or any other action taken by the Company is as
contemplated by the Registration Statement;

 

(i)  
File information returns with respect to the Trust Account with any local, state or federal taxing authority or provide periodic
written statements to the SPAC Parties documenting the taxes payable by the SPAC Parties, if any, relating to any interest income earned
on the Property;

 

(j)  
Prepare, execute and file tax reports, income or other tax returns and pay any taxes with respect to any income generated by, and
activities relating to, the Trust Account, regardless of whether such tax is payable by the Trust Account or the SPAC Parties, including,
but not limited to, income tax obligations, except pursuant to Section 1(j) hereof; or

 

(k)
Verify calculations, qualify or otherwise approve the Company’s written requests for distributions pursuant to Sections 1(i),
1(j) and 1(k) hereof.

 

4.
Trust Account Waiver. The Trustee has no right of set-off or any right,
title, interest or claim of any kind (“Claim”) to, or to any monies in, the Trust Account, and hereby irrevocably
waives any Claim to, or to any monies in, the Trust Account that it may have now or in the future. In the event the Trustee has any Claim
against the SPAC Parties under this Agreement, including, without limitation, under Section 2(b) or Section 2(c) hereof, the Trustee
shall pursue such Claim solely against the SPAC Parties and their assets outside the Trust Account and not against the Property or any
monies in the Trust Account.

 

5.
Termination. This Agreement shall terminate as follows:

 

(a)
If the Trustee gives written notice to the SPAC Parties that it desires to resign under this Agreement, the SPAC Parties shall
use their reasonable efforts to locate a successor trustee, pending which the Trustee shall continue to act in accordance with this Agreement.
At such time that the SPAC Parties notify the Trustee that a successor trustee has been appointed and has agreed to become subject to
the terms of this Agreement, the Trustee shall transfer the management of the Trust Account to the successor trustee, including but not
limited to the transfer of copies of the reports and statements relating to the Trust Account, whereupon this Agreement shall terminate;
provided, however, that in the event that the SPAC Parties do not locate a successor trustee within ninety (90) days of receipt of the
resignation notice from the Trustee, the Trustee may submit an application to have the Property deposited with any court in the State
of New York or with the United States District Court for the Southern District of New York and upon such deposit, the Trustee shall be
immune from any liability whatsoever; or

 

(b)
At such time that the Trustee has completed the liquidation of the Trust Account and its obligations in accordance with the provisions
of Section 1(i) hereof (which section may not be amended under any circumstances) and distributed the Property in accordance with the
provisions of the Termination Letter, this Agreement shall terminate except with respect to Section 2(b).

 

    6

     

    

 

6.
Miscellaneous.

 

(a)
The Company, Opco and the Trustee each acknowledge that the Trustee will follow the security procedures set forth below with respect
to funds transferred from the Trust Account. The Company, Opco and the Trustee will each restrict access to confidential information relating
to such security procedures to authorized persons. Each party must notify the other party immediately if it has reason to believe unauthorized
persons may have obtained access to such confidential information, or of any change in its authorized personnel. In executing funds transfers,
the Trustee shall rely upon all information supplied to it by the SPAC Parties, including account names, account numbers, and all other
identifying information relating to a Beneficiary, Beneficiary’s bank or intermediary bank. Except for any liability arising out
of the Trustee’s gross negligence, fraud or willful misconduct, the Trustee shall not be liable for any loss, liability or expense
resulting from any error in the information or transmission of the funds.

 

(b)
This Agreement shall be governed by and construed and enforced in accordance with 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. This Agreement
may be executed in several original or facsimile counterparts, each one of which shall constitute an original, and together shall constitute
but one instrument.

 

(c)
This Agreement contains the entire agreement and understanding of the parties hereto with respect to the subject matter hereof.
Except for Sections 1(i), 1(j) and 1(k) hereof (which sections may not be modified, amended or deleted without the affirmative vote of
sixty-five percent (65%) of the then outstanding Class A Ordinary Shares and Class B ordinary shares, par value $0.0001 per share, of
the Company, voting together as a single class; provided that no such amendment will affect any Public Shareholder who has properly elected
to redeem his, her or its Class A Ordinary Shares in connection with a shareholder vote to approve an amendment to this Agreement that
would affect the substance or timing of the Company’s obligation to redeem 100% of its Class A Ordinary Shares and Class A Units
if the Company does not complete its initial Business Combination within the time frame specified in the Company’s amended and restated
memorandum and articles of association), this Agreement or any provision hereof may only be changed, amended or modified (other than to
correct a typographical error) by a writing signed by each of the parties hereto.

 

(d)
The parties hereto consent to the jurisdiction and venue of any state or federal court located in the City of New York, State of
New York, for purposes of resolving any disputes hereunder. AS TO ANY CLAIM, CROSS-CLAIM OR COUNTERCLAIM IN ANY WAY RELATING TO THIS AGREEMENT,
EACH PARTY WAIVES THE RIGHT TO TRIAL BY JURY.

 

    7

     

    

 

(e)
Any notice, consent or request to be given in connection with any of the terms or provisions of this Agreement shall be in writing
and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery or
by facsimile or email transmission:

 

if to the Trustee, to:

 

Continental Stock Transfer & Trust
Company

1 State Street, 30th Floor

New York, New York 10004

		Attn:	Francis Wolf and Celeste Gonzalez

		Email:	fwolf@continentalstock.com

cgonzalez@continentalstock.com

 

if to the Company or Opco, to:

 

Rice Acquisition Corp. II

102 East Main Street, Second Story

Carnegie, Pennsylvania 15106

		Attn:	J. Kyle Derham

		Email:	kyle@riceinvestmentgroup.com

 

in each case, with copies to:

 

Kirkland & Ellis LLP

609 Main Street

Houston, Texas 77002

		Attn:	Matthew Pacey and Lanchi Huynh

		Email:	matt.pacey@kirkland.com

Lanchi.huynh@kirkland.com

 

and

 

Citigroup Global Markets Inc.

388 Greenwich Street

New York, New York 10013

		Attn:	General Counsel

 

and

 

Barclays Capital Inc.

745 Seventh Avenue

New York, New York 10019

		Attn:	Syndicate Registration

		Email:	barclaysprospectus@broadridge.com

 

and

 

Vinson & Elkins L.L.P.

1001 Fannin Street, Suite 2500

Houston, Texas 77002

		Attn:	David P. Oelman, E. Ramey Layne and Sarah K. Morgan

		Email:	doelman@velaw.com

rlayne@velaw.com

smorgan@velaw.com

 

(f)
Each of the Company, Opco and the Trustee hereby represents that it has the full right and power and has been duly authorized to
enter into this Agreement and to perform its respective obligations as contemplated hereunder. The Trustee acknowledges and agrees that
it shall not make any claims or proceed against the Trust Account, including by way of set-off, and shall not be entitled to any funds
in the Trust Account under any circumstance.

 

(g)
Each of the Company, Opco and the Trustee hereby acknowledges and agrees that the Representatives, on behalf of the Underwriters,
are third party beneficiaries of this Agreement.

 

(h)
Except as specified herein, no party to this Agreement may assign its rights or delegate its obligations hereunder to any other
person or entity.

 

[Signature Page Follows]

 

    8

     

    

 

IN WITNESS WHEREOF, the parties
have duly executed this Investment Management Trust Agreement as of the date first written above.

 

	 	Continental Stock Transfer & 

Trust Company,
	 	as Trustee
	 	 	 
	 	By:	/s/ Francis Wolf
	 	 	Name:  	Francis Wolf
	 	 	Title: 	Vice President

 

	 	COMPANY:
	 	 	 
	 	Rice Acquisition Corp. II
	 	 	 
	 	By:	/s/ Daniel Joseph Rice, IV
	 	 	Name:  	Daniel Joseph Rice, IV
	 	 	Title:	 Chief Executive Officer

 

	 	OPCO:
	 	 	 
	 	Rice Acquisition Holdings II LLC
	 	 	 
	 	By:	/s/ Daniel Joseph Rice, IV
	 	 	Name: 	 Daniel Joseph Rice, IV
	 	 	Title: 	Chief Executive Officer

 

[Signature Page to Investment Management Trust
Agreement]

 

     

     

    

 

SCHEDULE A

 

	Fee Item	 	Time and method of payment	 	Amount	 
	Initial set-up fee.	 	Initial closing of Offering by wire transfer.	 	$	3,500.00	 
	Trustee administration fee	 	Payable annually. First year fee payable at initial closing of Offering by wire transfer; thereafter, payable by wire transfer or check.	 	$	10,000.00	 
	Transaction processing fee for disbursements to Company under Sections 1(i), 1(j) and 1(k)	 	Deduction by Trustee from accumulated disbursements made to Opco under Section 1	 	$	250.00	 
	Paying Agent services as required pursuant to Sections 1(i) and 1(k)	 	Billed to Opco upon delivery of service pursuant to Sections 1(i) and 1(k)	 	 	Prevailing rates	 

  

    Schedule A

     

    

 

EXHIBIT A

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

 

		Re:	Trust Account—Termination Letter

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section 1(i) of
the Investment Management Trust Agreement by and among Rice Acquisition Corp. II (the “Company”), Rice Acquisition
Holdings II LLC (“Opco”) and Continental Stock Transfer & Trust Company (the “Trustee”),
dated as of June 15, 2021 (the “Trust Agreement”), this is to advise you that the Company has entered into an
agreement with ____________________ (the “Target Business”) to consummate a business combination with Target
Business (the “Business Combination”) on or about ____________________, 20___. The Company shall notify you
at least seventy-two (72) hours in advance of the actual date of the consummation of the Business Combination (the “Consummation
Date”). Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

In accordance with the terms
of the Trust Agreement, we hereby authorize you to commence to liquidate all of the assets of the Trust Account and to transfer the proceeds
into the trust operating account at J.P. Morgan Chase Bank, N.A. to the effect that, on the Consummation Date, all of the funds held in
the Trust Account will be immediately available for transfer to the account or accounts that the SPAC Parties shall direct on the Consummation
Date. It is acknowledged and agreed that while the funds are on deposit in the trust operating account at J.P. Morgan Chase Bank, N.A.
awaiting distribution, Opco will not earn any interest or dividends.

 

On the Consummation Date
(i) counsel for the Company shall deliver to you written notification that the Business Combination has been consummated, or will be
consummated concurrently with your transfer of funds to the accounts as directed by the SPAC Parties (the “Notification”)
and (ii) the SPAC Parties shall deliver to you (a) a certificate of the Chief Executive Officer of the Company, which verifies that the
Business Combination has been approved by a vote of the Company’s shareholders, if a vote is held and (b) written instruction signed
by the SPAC Parties with respect to the transfer of the funds held in the Trust Account, including payment of the Deferred Discount from
the Trust Account (the “Instruction Letter”). You are hereby directed and authorized to transfer the funds
held in the Trust Account immediately upon your receipt of the Notification and the Instruction Letter, in accordance with the terms
of the Instruction Letter. In the event that certain deposits held in the Trust Account may not be liquidated by the Consummation Date
without penalty, you will notify the SPAC Parties in writing of the same and the SPAC Parties shall direct you as to whether such funds
should remain in the Trust Account and be distributed after the Consummation Date to Opco. Upon the distribution of all the funds, net
of any payments necessary for reasonable unreimbursed expenses related to liquidating the Trust Account, your obligations under the Trust
Agreement shall be terminated. 

 

    A-1

     

    

 

In the event that the Business
Combination is not consummated on the Consummation Date described in the notice thereof and we have not notified you on or before the
original Consummation Date of a new Consummation Date, then upon receipt by the Trustee of written instructions from the SPAC Parties,
the funds held in the Trust Account shall be reinvested as provided in Section 1(c) of the Trust Agreement on the business day immediately
following the Consummation Date as set forth in such written instructions as soon thereafter as possible.

 

	 	Very truly yours,
	 	 	 
	 	Rice Acquisition Corp. II
	 	 	 
	 	By:	 
	 	Name: 	Daniel Joseph Rice, IV
	 	Title:	Chief Executive Officer

 

	 	Rice Acquisition Holdings II LLC
	 	 	 
	 	By:	 
	 	Name: 	Daniel Joseph Rice, IV
	 	Title:	Chief Executive Officer

 

	cc:	Citigroup
    Global Markets Inc.
		Barclays Capital Inc.

  

    A-2

     

    

 

EXHIBIT B

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

 

		Re:	Trust Account — Termination Letter

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section 1(i) of
the Investment Management Trust Agreement by and among Rice Acquisition Corp. II (the “Company”), Rice Acquisition
Holdings II LLC and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of June 15, 2021
(the “Trust Agreement”), this is to advise you that the Company has been unable to effect a business combination
with a Target Business within the time frame specified in the Company’s Amended and Restated Memorandum and Articles of Association,
as described in the Company’s Prospectus relating to the Offering. Capitalized terms used but not defined herein shall have the
meanings set forth in the Trust Agreement.

 

In accordance with the terms
of the Trust Agreement, we hereby authorize you to liquidate all of the assets in the Trust Account and to transfer the total proceeds
into the trust operating account at J.P. Morgan Chase Bank, N.A. to await distribution to the Holders. The SPAC Parties have selected
[ ] as the effective date for the purpose of determining when the Holders will be entitled to receive their share of the liquidation proceeds.
You agree to be the Paying Agent of record and, in your separate capacity as Paying Agent, agree to distribute said funds directly to
the Holders in accordance with the terms of the Trust Agreement, the Amended and Restated Memorandum and Articles of Association of the
Company and the Amended and Restated Limited Liability Company Agreement of Opco. Upon the distribution of all the funds, net of any payments
necessary for reasonable unreimbursed expenses related to liquidating the Trust Account, your obligations under the Trust Agreement shall
be terminated, except to the extent otherwise provided in Section 1(j) of the Trust Agreement.

 

[Signature page follows]

 

    B-1

     

    

 

	 	Very truly yours,
	 	 	 
	 	Rice Acquisition Corp. II
	 	 	 
	 	By:	 
	 	Name: 	Daniel Joseph Rice, IV
	 	Title:	Chief Executive Officer

 

	 	Rice Acquisition Holdings II LLC
	 	 	 
	 	By:	 
	 	Name: 	Daniel Joseph Rice, IV
	 	Title:	Chief Executive Officer

 

	 	 
	cc:	Citigroup Global Markets Inc.
		Barclays Capital Inc.

  

    B-2

     

    

 

EXHIBIT C

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

 

		Re:	Trust Account — Tax Payment Withdrawal Instruction

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section 1(j) of
the Investment Management Trust Agreement by and among Rice Acquisition Corp. II (the “Company”), Rice Acquisition
Holdings II LLC (“Opco”) and Continental Stock Transfer & Trust Company (the “Trustee”),
dated as of June 15, 2021 (the “Trust Agreement”), the SPAC Parties hereby request that you deliver to Opco
$_____________ of the interest income earned on the Property as of the date hereof. Capitalized terms used but not defined herein shall
have the meanings set forth in the Trust Agreement.

 

Opco needs such funds to pay
for the tax obligations as set forth on the attached tax return or tax statement. In accordance with the terms of the Trust Agreement,
you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to Opco’s
operating account at:

 

[WIRE INSTRUCTION INFORMATION]

 

[Signature page follows]

 

    C-1

     

    

 

	 	Very truly yours,
	 	 	 
	 	Rice Acquisition Corp. II
	 	 	 
	 	By:	 
	 	Name: 	Daniel Joseph Rice, IV
	 	Title:	Chief Executive Officer
	 	 	 
	 	Rice Acquisition Holdings II LLC
	 	 	 
	 	By:	 
	 	Name:	Daniel Joseph Rice, IV
	 	Title:	Chief Executive Officer

 

	cc:	Citigroup
    Global Markets Inc.
	 	BarclaysCapital Inc.

  

    C-2

     

    

 

EXHIBIT D

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

 

		Re:Trust	Account — Shareholder Redemption Withdrawal Instruction

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section 1(k) of
the Investment Management Trust Agreement by and among Rice Acquisition Corp. II (the “Company”), Rice Acquisition
Holdings II LLC (“Opco”) and Continental Stock Transfer & Trust Company (the “Trustee”),
dated as of June 15, 2021 (the “Trust Agreement”), the SPAC Parties hereby request that you deliver to the redeeming
Public Shareholders of the Company $_____________ of the principal and interest income earned on the Property as of the date hereof. Capitalized
terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

The SPAC Parties need such
funds to pay the Public Shareholders who have properly elected to have their Class A Ordinary Shares redeemed by the Company in connection
with a shareholder vote to approve an amendment to the Company’s amended and restated memorandum and articles of association that
affects the substance or timing of the SPAC Parties’ obligation to redeem 100% of the Class A Ordinary Shares and Class A Units
if the Company has not consummated an initial Business Combination within such time as is described in the Company’s amended and
restated memorandum and articles of association. As such, you are hereby directed and authorized to transfer (via wire transfer) such
funds promptly upon your receipt of this letter to the redeeming Public Shareholders in accordance with your customary procedures.

 

[Signature page follows]

 

    D-1

     

    

 

	 	Very truly yours,
	 	 	 
	 	Rice Acquisition Corp. II
	 	 	 
	 	By:	 
	 	Name:	Daniel Joseph Rice, IV
	 	Title:	Chief Executive Officer
	 	 	 
	 	Rice Acquisition Holdings II LLC
	 	 	 
	 	By:	 
	 	Name:	Daniel Joseph Rice, IV
	 	Title:	Chief Executive Officer

 

	cc:	Citigroup Global Markets Inc.
		Barclays Capital Inc.

 

 

D-2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00329-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00329-of-00352.parquet"}]]