Document:

Exhibit
10.1

  

______________,
2021

 

Jupiter
Acquisition Corporation

11450 SE Dixie Hwy

Hobe
Sound, FL 33455

 

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”) to be entered into by and between Jupiter Acquisition Corporation, a
Delaware corporation (the “Company”), and Nomura Securities International, Inc., as representative (the
“Representative”) of the several underwriters named in Schedule A thereto (the “Underwriters”),
relating to an underwritten initial public offering (the “Public Offering”), of 23,000,000 of the Company’s
units (including up to 3,000,000 units that may be purchased to cover over-allotments, if any) (each, a “Unit”),
each Unit comprised of one share of the Company’s Class A common stock, par value $0.0001 per share (the “Class
A Common Stock”), and one-half of one redeemable warrant (each, a “Warrant”). Each whole
Warrant entitles the holder thereof to purchase one share of Class A Common Stock at a price of $11.50 per share, subject to adjustment.
The Units shall be sold in the Public Offering pursuant to a registration statement on Form S-1 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 Nasdaq Capital Market. Certain capitalized terms used herein are defined in paragraph
10 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, Jupiter Founders
LLC (the “Sponsor”), Nomura Securities International, Inc., Ladenburg Thalmann & Co. Inc. and each
of the other Initial Stockholders, and each of the undersigned individuals, each of whom is a member of the Company’s board
of directors and/or management team (each such other undersigned individual, an “Insider” and collectively,
the “Insiders”), hereby agrees with the Company as follows:

 

1. The
Sponsor, each Insider and each of the other Initial Stockholders agrees that (a) if the Company seeks stockholder approval of
a proposed Business Combination, then in connection with such proposed Business Combination, it, he or she shall (i) vote
any shares of Common Stock owned by it, him or her in favor of any proposed Business Combination and (ii) not redeem any
shares of Common Stock owned by it, him or her in connection with such stockholder approval; and (b) if the Company engages in
a tender offer in connection with a proposed Business Combination, it, he or she shall not sell any shares of Common Stock to
the Company in connection therewith.

 

2. The
Sponsor, each Insider and each of the other Initial Stockholders hereby agrees that in the event that the Company fails to consummate
a Business Combination within 24 months from the date of the closing of the Public Offering (the latest such date being referred
to as the “Termination Date”), or such longer period approved by the Company’s stockholders in
accordance with the Company’s amended and restated certificate of incorporation (the “Certificate of Incorporation”),
the Sponsor, each Insider and each of the other Initial Stockholders 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 Common Stock sold as part of the Units
in the Public Offering (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 earned on the funds held in the Trust Account and not
previously released to the Company to pay its taxes (which interest shall be net of taxes payable and 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
all Public Stockholders’ rights as stockholders (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 stockholders and the Company’s board of directors, dissolve and liquidate, subject in each
case to the Company’s obligations under Delaware law to provide for claims of creditors and other requirements of applicable
law. The Sponsor, each Insider and each of the other Initial Stockholders agrees not to propose any amendment to the Certificate
of Incorporation (A) to modify the substance or timing of the Company’s obligation to redeem 100% of the Offering Shares
if the Company does not complete a Business Combination by the Termination Date or (B) with respect to any other provision relating
to stockholders’ rights or pre-Business Combination activity, unless the Company provides its Public Stockholders 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 (which interest shall be net of taxes payable) earned
on the funds in the Trust Account divided by the number of then outstanding Offering Shares.

 

     

     

    

 

The
Sponsor, each Insider and each of the other Initial Stockholders 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 as a result of any liquidation
of the Company with respect to the Founder Shares held by it, him or her, provided, that the foregoing waiver shall not
apply with respect to liquidating distributions from the Trust Account made in connection with any Offering Shares purchased by
the undersigned or its affiliates during the Public Offering or on the open market after the completion of the Public Offering
if the Company fails to complete a Business Combination by the Termination Date. The Sponsor, each Insider and each of the other
Initial Stockholders hereby further waives, with respect to any shares of Common Stock held by it, him or her, if any, 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 stockholder vote to approve such Business Combination or in the context of a tender
offer made by the Company to purchase shares of Common Stock (although the Sponsor, the Insiders, the other Initial Stockholders
and their respective affiliates shall be entitled to redemption and liquidation rights with respect to any Offering Shares it
or they hold if the Company fails to consummate a Business Combination by the Termination Date).

 

3. Notwithstanding
the provisions set forth in paragraphs 6(a) and (b) below, during the period commencing on the effective date of the Underwriting
Agreement and ending 180 days after such date, the Sponsor, each Insider and each of the other Initial Stockholders shall not,
without the prior written consent of the Representative, (i) offer, sell, contract to sell, hypothecate, pledge or grant any option
to purchase or otherwise dispose of (or enter into any transaction that is designed to, or might reasonably be expected to, result
in the disposition (whether by actual disposition or effective economic disposition due to cash settlement or otherwise)), 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 (the “Exchange Act”), and the
rules and regulations of the Commission promulgated thereunder, with respect to, any Units, shares of Common Stock, Warrants or
any securities convertible into, or exercisable, or exchangeable for, Common Stock, (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, shares of Common Stock,
Warrants or any securities convertible into, or exercisable, or exchangeable for, shares of Common Stock owned by it, him or her,
whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (iii) publicly announce
an intention to effect any such transaction. The provisions of this paragraph will not apply if (i) the release or waiver is effected
solely to permit a transfer of securities that is not for consideration and (ii) the transferee has agreed in writing to be bound
by the same terms described in this Letter Agreement to the extent and for the duration that such terms remain in effect at the
time of the transfer.

 

4. In
the event of the liquidation of the Trust Account, the Sponsor (which for purposes of clarification shall not extend to any other
members or managers of the Sponsor) agrees to indemnify and hold harmless the Company 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 may
become subject as a result of any claim by (i) any third party (other than the Company’s independent accountants) for services
rendered or products sold to the Company or (ii) a prospective target business with which the Company has discussed entering into
a transaction agreement (a “Target”); provided, however, that such indemnification of
the Company 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 a Target do not reduce the
amount of funds in the Trust Account to below (i) $10.00 per share of the Offering Shares or (ii) such lesser 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, net of the amount of interest earned on the property in the Trust Account which may be withdrawn
to pay taxes (less up to $100,000 of interest to pay dissolution expenses), except as to any claims by a third party (including
a Target) who executed a waiver of any and all rights to seek access to the Trust Account and except as to any claims under the
Company’s indemnity of the Underwriters against certain liabilities, including liabilities under the Securities Act of 1933,
as amended. In the event that any such executed waiver is deemed to be unenforceable against such third party, the Sponsor shall
not be responsible to the extent of any liability for such third party claims. 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.

 

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5. The
Sponsor, each Insider and each of the other Initial Stockholders hereby agrees and acknowledges that: (i) the Underwriters and
the Company would be irreparably injured in the event of a breach by such Sponsor, any Insider or any other Initial Stockholder
of its, his or her obligations under paragraphs 1, 2, 3, 4, 6(a), 6(b), and 8 of this Letter Agreement (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.

 

6. 
(a) The Sponsor, each Insider and each of the other Initial Stockholders agrees that it, he or she shall not Transfer any Founder
Shares (or any shares of Class A Common Stock issuable upon the conversion thereof) until the earlier of (A) one year after the
completion of the Company’s initial Business Combination and (B) subsequent to the Business Combination, (x) if the last
reported sale price of the Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations,
recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the
Company’s initial Business Combination or (y) the date on which the Company completes a liquidation, merger, capital stock
exchange, reorganization or other similar transaction that results in all of the Company’s stockholders having the right
to exchange their shares of Common Stock for cash, securities or other property (the “Founder Shares Lock-Up Period”).

 

(b)
Notwithstanding the provisions set forth in paragraph 6(a), Transfers of Founder Shares (or any shares of Class A Common
Stock issuable upon the conversion thereof)
that are held by the Sponsor, any Insider, any other Initial Stockholder or any of their permitted transferees (that have complied
with this paragraph 6(b)), are permitted (i) to the Company’s officers or directors, any affiliates or family members of
any of the Company’s officers or directors, any members of the Sponsor, or any affiliates of the Sponsor, as well as affiliates
of such members and funds and accounts advised by such members; (ii) in the case of an individual, by gift to a member of the
individual’s immediate family or to a trust, the beneficiary of which is a member of the individual’s immediate family,
an affiliate of such person or to a charitable organization; (iii) in the case of an individual, by virtue of laws of descent
and distribution upon death of the individual; (iv) in the case of an individual, pursuant to a qualified domestic relations order;
(v) by private sales or transfers made in connection with any forward purchase agreement or similar arrangement or in connection
with the consummation of an initial Business Combination at prices no greater than the price at which the shares or warrants were
originally purchased; (vi) in the event of the Company’s liquidation prior to the completion of the Company’s initial
Business Combination; (vii) by virtue of the laws of the State of Delaware or the Sponsor’s limited liability company agreement
upon dissolution of the Sponsor or any other Initial Stockholder; (viii) 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 completion of the
Company’s initial Business Combination; or (ix) in the case of any Initial Stockholder that is, or is affiliated with, an
Underwriter, to such Initial Stockholder’s affiliates or any entity controlled by such Initial Stockholder, provided,
however, that in the case of clauses (i) through (v), (vii) or (ix), these permitted transferees must enter into a written
agreement agreeing to be bound by these transfer restrictions and the other restrictions contained herein.

 

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7. The
Sponsor and each Insider represents and warrants that it, he or she 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. Each Insider’s biographical information furnished to the Company (including any such information included in
the Prospectus) is true and accurate in all respects and does not omit any material information with respect to the Insider’s
background. The Sponsor and each Insider’s questionnaire furnished to the Company is true and accurate in all respects.
The Sponsor and each Insider represents and warrants that: it, he or she 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; it, he or she 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 it, he or she is not currently a defendant in any such criminal proceeding.

 

8. Except
as disclosed in the Prospectus, neither the Sponsor nor any Insider nor any affiliate of the Sponsor or any Insider, nor any director
or officer of the Company, shall receive from the Company 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), other
than the amounts described in the Prospectus under the heading “Summary – The Offering – Limited Payments to
Insiders”.

 

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

 

10. As
used herein, (i) “Business Combination” shall mean a merger, share exchange, asset acquisition, stock
purchase, reorganization, recapitalization or other similar business combination, involving the Company and one or more businesses;
(ii) “Class B Common Stock” shall mean the Company’s Class B common stock, par value $0.0001 per
share; (iii) “Common Stock” shall mean the Class A Common Stock and the Class B Common Stock, collectively;
(iv) “Founder Shares” shall mean the 5,750,000 shares (or 5,000,000 shares if the Underwriters’
option to purchase additional units is not exercised) of Class B Common Stock initially held by the Initial Stockholders; (v)
“Initial Stockholders” shall mean the Sponsor, certain of the Underwriters and any other holder of Founder
Shares immediately prior to the Public Offering; (vi) “Private Placement Units” shall mean the units
that the Sponsor and certain of the Underwriters have agreed to purchase for an aggregate purchase price of $6,800,000 (or $7,400,000
if the Underwriters’ option to purchase additional units is exercised in full), or $10.00 per unit, in a private placement
that shall occur simultaneously with the consummation of the Public Offering; (vii) “Public Stockholders”
shall mean the holders of securities issued in the Public Offering; (viii) “Trust Account” shall mean
the trust fund into which a portion of the net proceeds of the Public Offering shall be deposited; and (ix) “Transfer”
shall mean the (a) sale or assignment of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option
to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put
equivalent position or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16
of the Exchange Act and the rules and regulations of the Commission promulgated thereunder with respect to, any security, (b)
entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership
of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (c) public
announcement of any intention to effect any transaction specified in clause (a) or (b).

 

11. 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 the Company, the Sponsor, any Insider and each of the other Initial Stockholders that is subject
of any such change, amendment, modification or waiver.

 

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12. 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, each of the other Initial Stockholders and their respective successors, heirs and assigns and permitted
transferees.

 

13. Nothing
in this Letter Agreement shall be construed to confer upon, or give to, any person or corporation other than the parties hereto
any right, remedy or claim under or by reason of this Letter Agreement or of any covenant, condition, stipulation, promise or
agreement hereof. All covenants, conditions, stipulations, promises and agreements contained in this Letter Agreement shall be
for the sole and exclusive benefit of the parties hereto and their successors, heirs, personal representatives and assigns and
permitted transferees; provided, however, that the Underwriters shall benefit from the provisions set forth in paragraphs
3 and 6, which such paragraphs shall not be amended or modified without the written consent of the Representative.

 

14. 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.

 

15. 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.

 

16. 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 U.S. federal and New York state courts in the Borough of Manhattan in the
City 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.

 

17. 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 transmission.

 

18. This
Letter Agreement shall terminate on the earlier of (i) the expiration of the Founder Shares Lock-Up Period or (ii) the
liquidation of the Company; provided, however, that this Letter Agreement shall earlier terminate in the event
that the Public Offering is not consummated and closed by _____________, 2021; provided further that paragraph 4 of this
Letter Agreement shall survive such liquidation.

 

[Signature
Page Follows]

 

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	 	Sincerely,
	 	 	 
	 	jupiter
    holdings llc
	 	 
	 	By:  	                             
	 	Name:	 
	 	Title:	 

 

	 	 
	 	James
    N. Hauslein
	 	 
	 	 
	 	James Clarke
	 	 
	 	 
	 	Gaurav Burman
	 	 
	 	 
	 	James Thayer
	 	 
	 	 
	 	Jonathan Leong
	 	 
	 	 
	 	Robert
    A. Knox
	 	 
	 	 
	 	George
    L. Pita
	 	 
	 	 
	 	John D. White, Jr.

 

[Signature
Page to Letter Agreement]

 

     

     

    

 

	 	NOMURA SECURITIES INTERNATIONAL, INC.
	 	 	 
	 	By:  	                        
	 	Name:	 
	 	Title:	 
	 	 	 
	 	LADENBURG
    THALMANN & CO. INC.
	 	 	 
	 	By:  	 
	 	Name:  	
	 	Title:	 
	 	 	 
	 	 	 
	 	[●]	 

 

[Signature
Page to Letter Agreement]

     

     

    

 

Acknowledged
and Agreed:

 

	Jupiter
    Acquisition Corporation	 
	 	 
	By:	                    	 
	Name:	 	 
	Title:   	 	 

 

[Signature
Page to Letter Agreement]Exhibit 10.6

 

PRIVATE PLACEMENT UNIT SUBSCRIPTION
AGREEMENT

 

This PRIVATE PLACEMENT
UNIT SUBSCRIPTION AGREEMENT (this “Agreement”) is made as of the [●] day of [●], 2021, by and between
Jupiter Acquisition Corporation, a Delaware corporation (the “Company”), and Jupiter Founders LLC (the “Subscriber”).

 

WHEREAS, the
Company has filed with the Securities and Exchange Commission (“SEC”) a Registration Statement on Form S-1 (the
“Registration Statement”) in connection with an underwritten initial public offering (“IPO”)
of 23,000,000 units of the Company (the “Public Units”) (including up to 3,000,000 Public Units to the extent
the over-allotment option of the underwriters of the IPO is exercised (the “Over-allotment Option”)), with each
such Public Unit consisting of one share of Class A common stock, par value $0.0001 per share (the “Class A Common Stock”,
together with the Class B common stock, par value $0.0001 per share (the “Class B Common Stock”), of the Company,
the “Common Stock”), of the Company and one-half of one redeemable warrant, where each whole warrant entitles
the holder to purchase one share of Class A Common Stock (“Warrant”) at an exercise price of $11.50 per share
(subject to adjustments);

 

WHEREAS, the
Company desires to sell to the Subscriber on a private placement basis an aggregate of 505,343 private placement units (including
up to 29,393 private placement units to be issued and sold to the extent the Over-allotment Option is exercised) (the “Private
Placement Units”) of the Company for a purchase price of $10.00 per Private Placement Unit, each Private Placement Unit
comprised of one share of Class A Common Stock and one-half of one Warrant, each whole Warrant exercisable to purchase one share
of Class A Common Stock. The shares of Class A Common Stock underlying the Private Warrants (as defined below) are hereinafter
referred to as the “Warrant Shares.” The shares of Class A Common Stock underlying the Private Placement Units
(excluding the Warrant Shares) are hereinafter referred to as the “Private Shares.” The Warrants underlying
the Private Placement Units are hereinafter referred to as the “Private Warrants.” The Private Placement Units,
Private Shares, Private Warrants and Warrant Shares, collectively, are hereinafter referred to as the “Securities.”
Each whole Private Warrant is exercisable to purchase one share of Class A Common Stock at an exercise price of $11.50, subject
to the adjustments as set forth in the Warrant Agreement (as defined below), during the period commencing on the later of (i) twelve
(12) months from the date of the closing of the IPO and (ii) 30 days following the consummation of the Company’s initial
business combination (the “Business Combination”), as such term is defined in the Registration Statement, and
expiring on the fifth anniversary of the consummation of the Business Combination or earlier upon redemption or liquidation; and

 

WHEREAS, the
Subscriber wishes to purchase an aggregate of 505,343 Private Placement Units (including up to 29,393 Private Placement Units to
the extent the Over-allotment Option is exercised) for the purchase price of $10.00 per Private Placement Unit, and the Company
wishes to accept such subscription from the Subscriber.

 

    	 

     

    

 

NOW, THEREFORE,
in consideration of the premises and the mutual covenants hereinafter set forth and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Company and the Subscriber hereby agree as follows:

 

1. Agreement
to Subscribe.

 

1.1 Purchase
and Issuance of the Private Placement Units. Upon the terms and subject to the conditions of this Agreement:

 

(a) The
Subscriber hereby agrees to purchase from the Company, and the Company hereby agrees to sell to the Subscriber, on the Initial
Closing Date (as defined below) 475,950 Private Placement Units (the “Initial Private Placement Units”), for
$10.00 per Initial Private Placement Unit, payable by the Subscriber by wire transfer of immediately available funds or by such
other method as may be reasonably acceptable to the Company as follows: (i) $1,959,500 to the trust account (the “Trust
Account”) at a financial institution to be chosen by the Company, maintained by Continental Stock Transfer & Trust
Company, acting as trustee (“Continental”), at least one (1) business day prior to the Initial Closing Date,
and (ii) $2,800,000 to the Company, at a financial institution to be chosen by the Company, on the Initial Closing Date. On the
Initial Closing Date, the Company shall, subject to receipt of funds pursuant to the immediately prior sentence, at its option,
deliver to the Subscriber the certificates representing the Initial Private Placement Units purchased by the Subscriber or effect
such delivery in book-entry form.

 

(b) In
the event the Over-allotment Option is exercised in full or in part, the Subscriber hereby agrees to purchase from the Company,
and the Company hereby agrees to sell to the Subscriber, up to 29,393 Private Placement Units (the “Additional Private
Placement Units”), in the same proportion as the amount of the Over-allotment Option that is then exercised, and simultaneously
with such purchase of Additional Private Placement Units, as payment in full for the Additional Private Placement Units being purchased
hereunder, and at least one (1) business day prior to such closing of all or any portion of the Over-allotment Option, the Subscriber
shall pay $10.00 per Additional Private Placement Unit, by wire transfer of immediately available funds or by such other method
as may be reasonably acceptable to the Company, to the Trust Account.

 

1.2 Closing.
The closing of the purchase and sale of the Initial Private Placement Units shall take place substantially simultaneously with
the closing of the IPO (the “Initial Closing Date”). The closing of any purchase and sale of the Additional
Private Placement Units, if applicable, shall take place substantially simultaneously with the applicable closing of all or any
portion of the Over-allotment Option (such closing dates, together with the Initial Closing Date, the “Closing Date”).
The closing of the purchase and sale of the Private Placement Units shall take place at the offices of Greenberg Traurig, LLP,
200 Park Avenue, New York, New York 10166, or such other place as may be agreed upon by the parties hereto.

 

1.3 Conditions
to Closing. The obligation of the Subscriber to purchase and pay for the Private Placement Units as provided herein shall be
subject to the satisfaction of the conditions set forth in the Underwriting Agreement, dated the date hereof (the “Underwriting
Agreement”), by and between the Company and Nomura Securities International, Inc., as representative of the several underwriters
named therein.

 

1.4 Termination.
This Agreement and each of the obligations of the undersigned shall be null and void and without effect if the Initial Closing
Date does not occur on prior to _________, 2021 or if the Underwriting Agreement is terminated for any reason.

 

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2. Representations
and Warranties of the Subscriber.

 

The Subscriber represents
and warrants to the Company as follows:

 

2.1 Organization
and Authority. The Subscriber is duly organized, validly existing and in good standing under the laws of its jurisdiction of
organization and it possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement.

 

2.2 Authority.
This Agreement has been validly authorized, executed and delivered by the Subscriber and is a valid and binding agreement of the
Subscriber, enforceable against the Subscriber in accordance with its terms, subject to the general principles of equity and to
bankruptcy or other laws affecting the enforcement of creditors’ rights generally.

 

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

 

2.4 Accredited
Investor. The Subscriber represents that it is an “accredited investor” as such term is defined in Rule 501(a)
of Regulation D under the Securities Act of 1933, as amended (the “Securities Act”), and acknowledges that the
sale contemplated hereby is being made in reliance, among other things, on a private placement exemption to “accredited investors”
under the Securities Act and similar exemptions under state law.

 

2.5 Intent.
The Subscriber is purchasing the Securities solely for investment purposes, for the Subscriber’s own account (and/or for
the account or benefit of its members or affiliates, as permitted, pursuant to the terms hereof), and not with a view to the distribution
thereof and the Subscriber has no present arrangement to sell the Securities to or through any person or entity except as may be
permitted hereunder.

 

2.6 Restrictions
on Transfer. The Subscriber acknowledges and understands the Securities are being offered in a transaction not involving a
public offering in the United States within the meaning of the Securities Act. The Securities have not been registered under the
Securities Act or any state securities laws, and may be offered, resold, pledged or otherwise transferred only (i) pursuant to
an effective registration statement filed under the Securities Act, (ii) pursuant to an exemption from registration under Rule
144 promulgated under the Securities Act, if available, or (iii) pursuant to any other available exemption from the registration
requirements of the Securities Act, and in each case in accordance with any applicable securities laws of any state or any other
jurisdiction.

 

    	 3

     

    

 

2.7 Sophisticated
Investor.

 

(a) The
Subscriber is sophisticated in financial matters and is able to evaluate the risks and benefits of the investment in the Securities.

 

(b) The
Subscriber is aware that an investment in the Securities is highly speculative and subject to substantial risks because, among
other things, (i) the Securities are subject to transfer restrictions and have not been registered under the Securities Act and
therefore cannot be sold unless subsequently registered under the Securities Act or an exemption from such registration is available
and (ii) the Subscriber has waived its redemption rights with respect to the Private Shares as set forth in Section 5 hereof, and
the Securities held by the Subscriber are not entitled to, and have no right, interest or claim to any monies held in the Trust
Account, and the Subscriber may suffer a loss of a portion or all of its investment in the Securities. The Subscriber is able to
bear the economic risk of its investment in the Securities for an indefinite period of time.

 

2.8 Reliance
on Representations and Warranties. The Subscriber understands the Private Placement Units are being offered and sold to the
Subscriber in reliance on exemptions from the registration requirements under the Securities Act, and analogous provisions in the
laws and regulations of various states, and that the Company is relying upon the truth and accuracy of the representations, warranties,
agreements, acknowledgments and understandings of the Subscriber set forth in this Agreement in order to determine the applicability
of such provisions.

 

2.9 No
General Solicitation. The Subscriber is not subscribing for the Private Placement Units as a result of or subsequent to any
general solicitation or general advertising, including but not limited to any advertisement, article, notice or other communication
published in any newspaper, magazine, or similar media or broadcast over television or radio, or presented at any seminar or meeting
or in the Registration Statement.

 

2.10 Legend.
Subscriber acknowledges and agrees the book-entries or certificates, if any, evidencing each of the Securities shall bear a restrictive
legend (the “Legend”), in form and substance substantially as set forth in Section 4 hereof.

 

3. Representations,
Warranties and Covenants of the Company.

 

The Company represents
and warrants to, and agrees with, the Subscriber that:

 

3.1 Organization
and Qualification. The Company is a corporation duly incorporated, validly existing and in good standing under the laws of
the State of Delaware and has the requisite corporate power to own its properties and assets and to carry on its business as now
being conducted.

 

3.2 Authorization;
Enforcement. (i) The Company has the requisite corporate power and authority to enter into and perform its obligations under
this Agreement and to issue the Securities in accordance with the terms hereof, (ii) the execution, delivery and performance of
this Agreement by the Company and the consummation by it of the transactions contemplated hereby have been duly authorized by all
necessary corporate action, and no further consent or authorization of the Company or its Board of Directors or stockholders is
required, and (iii) this Agreement constitutes valid and binding obligations of the Company enforceable against the Company in
accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance,
moratorium, reorganization, or similar laws relating to, or affecting generally the enforcement of, creditors’ rights and
remedies or by equitable principles of general application and except as enforcement of rights to indemnity and contribution may
be limited by federal and state securities laws or principles of public policy.

 

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3.3 No
Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions
contemplated hereby do not (i) result in a violation of the Company’s certificate of incorporation or by-laws, (ii) conflict
with, or constitute a default under any agreement or instrument to which the Company is a party or (iii) any law statute, rule
or regulation to which the Company is subject or any agreement, order, judgment or decree to which the Company is subject. Other
than any SEC or state securities filings which may be required to be made by the Company subsequent to the Closing Date, and any
registration statement which may be filed pursuant thereto, the Company is not required under federal, state or local law, rule
or regulation to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental
agency or self-regulatory entity in order for it to perform any of its obligations under this Agreement or issue the Private Placement
Units, Private Shares, Private Warrants or Warrant Shares in accordance with the terms hereof.

 

3.4 Valid
Issuance of Capital Stock. The total number of shares of all classes of capital stock which the Company has authority to issue
is 100,000,000 shares of Class A Common Stock, 10,000,000 shares of Class B Common Stock and 1,000,000 shares of preferred stock,
$0.0001 par value per share (“Preferred Stock”). As of the date hereof, the Company has issued and outstanding
5,750,000 shares of Class B Common Stock (of which up to 750,000 shares are subject to forfeiture as described in the Registration
Statement), no shares of Class A Common Stock and no shares of Preferred Stock. All of the issued shares of capital stock of the
Company have been duly authorized, validly issued, and are fully paid and non-assessable.

 

3.5 Title
to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof and that certain warrant agreement
(the “Warrant Agreement”) to be entered into between the Company and Continental, as warrant agent, as the case
may be, each of the Private Placement Units, Private Shares, Private Warrants and Warrant Shares will be duly and validly issued,
fully paid and non-assessable. On the date of issuance of the Private Placement Units, the Warrant Shares shall have been reserved
for issuance. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, as the case
may be, the Subscriber will have or receive good title to the Private Placement Units, Private Shares and Private Warrants, free
and clear of all liens, claims and encumbrances of any kind, other than (i) transfer restrictions hereunder and (ii) transfer restrictions
under federal and state securities laws.

 

3.6 Additional
Representations and Warranties. The representations and warranties of the Company set forth in the Underwriting Agreement are
hereby incorporated herein and are true and correct with the same force and effect as though expressly made herein as of the date
hereof.

 

    	 5

     

    

 

4. Legend.

 

4.1 Legend.
The Company will issue the Private Placement Units, Private Shares and Private Warrants, and when issued, the Warrant Shares, purchased
by the Subscriber in the name of the Subscriber. The Securities will bear the following Legend and appropriate “stop transfer”
instructions:

 

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

 

“THE
SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO LOCK-UP PURSUANT TO A PRIVATE PLACEMENT UNIT SUBSCRIPTION AGREEMENT BETWEEN
JUPITER ACQUISITION CORPORATION AND THE SUBSCRIBER PARTY THERETO AND MAY ONLY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE
DISPOSED DURING THE TERM OF THE LOCK-UP PURSUANT TO THE TERMS SET FORTH IN THE PRIVATE PLACEMENT UNIT SUBSCRIPTION AGREEMENT.”

 

4.2 Subscriber’s
Compliance. Nothing in this Section 4 shall affect in any way the Subscriber’s obligations and agreements to comply with
all applicable securities laws upon resale of the Private Placement Units or any securities underlying the Private Placement Units.

 

4.3 Registration
Rights. The Subscriber shall be entitled to certain registration rights that will be governed by a registration rights agreement
(“Registration Rights Agreement”) to be entered into among the Company, the Subscriber and the other security
holders party thereto, on or prior to the effective date of the Registration Statement.

 

5. Waiver
of Liquidation Distributions.

 

In connection with
the Securities purchased pursuant to this Agreement, the Subscriber hereby waives any and all right, title, interest or claim of
any kind in or to any distributions of the amounts in the Trust Account with respect to the Securities, whether (i) in connection
with the exercise of redemption rights if the Company consummates the Business Combination, (ii) in connection with any tender
offer conducted by the Company prior to a Business Combination, (iii) upon the Company’s redemption of shares of Common Stock
sold in the Company’s IPO upon the Company’s failure to timely complete the Business Combination or (iv) in connection
with a stockholder vote to approve an amendment to the Company’s amended and restated certificate of incorporation, (A) to
modify the substance or timing of the Company’s obligation to allow redemption in connection with the Business Combination
or to redeem 100% of the Company’s public shares if the Company does not timely complete the Business Combination or (B)
with respect to any other provision relating to stockholders’ rights or pre-Business Combination activity. In the event Subscriber
purchases shares of Common Stock in the IPO or in the aftermarket, any additional shares so purchased shall be eligible to receive
the redemption value of such shares of Common Stock upon the same terms offered to all other purchasers of Common Stock in the
IPO in the event the Company fails to consummate the Business Combination.

 

    	 6

     

    

 

6. Terms
of Private Warrants. Each Private Warrant shall have the terms set forth in the Warrant Agreement.

 

7. Lock-Up
Period.

 

7.1 The
Subscriber agrees that it shall not Transfer any Securities until 30 days following the consummation of the Business Combination;
provided, however, that Transfers of Securities are permitted (i) to the Company’s officers or directors, any affiliates
or family members of any of the Company’s officers or directors, any members of the Subscriber, or any affiliates of the
Subscriber, as well as affiliates of such members and funds and accounts advised by such members; (ii) in the case of an individual,
by gift to a member of the individual’s immediate family or to a trust, the beneficiary of which is a member of the individual’s
immediate family, an affiliate of such person or to a charitable organization; (iii) in the case of an individual, by virtue of
laws of descent and distribution upon death of the individual; (iv) in the case of an individual, pursuant to a qualified domestic
relations order; (v) by private sales or transfers made in connection with any forward purchase agreement or similar arrangement
or in connection with the consummation of the Business Combination at prices no greater than the price at which the shares or warrants
were originally purchased; (vi) in the event of the Company’s liquidation prior to the completion of the Business Combination;
(vii) by virtue of the laws of the State of Delaware or the Subscriber’s limited liability company agreement upon dissolution
of the Subscriber; or (viii) 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 completion of the Business Combination, provided, however,
that in the case of clauses (i) through (v) or (vii), these permitted transferees must enter into a written agreement with the
Company agreeing to be bound by the Transfer and other restrictions contained herein.

 

7.2 For
purposes of Section 7.1, the term “Transfer” shall mean the (i) sale of, offer to sell, contract or agreement
to sell, hypothecate, pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly,
or establishment or increase of a put equivalent position or liquidation with respect to or decrease of 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 SEC promulgated
thereunder with respect to, any of the Securities, (ii) entry into any swap or other arrangement that transfers to another, in
whole or in part, any of the economic consequences of ownership of any of the Securities, whether any such transaction is to be
settled by delivery of such Securities, in cash or otherwise, or (iii) public announcement of any intention to effect any transaction
specified in clause (i) or (ii).

 

    	 7

     

    

 

8. Terms
of the Private Placement Units and Private Warrants.

 

8.1 The
Private Placement Units and their component parts are substantially identical to the units to be offered in the IPO except that:
(i) the Private Placement Units and component parts are subject to the transfer restrictions described in Section 7 hereof, (ii)
the Private Warrants will be non-redeemable and may be exercisable on a “cashless” basis if held by a Subscriber or
its permitted transferees, as further described in the Warrant Agreement, and (iii) the Private Placement Units and component parts
are being purchased pursuant to an exemption from the registration requirements of the Securities Act and will become freely tradable
only after the expiration of the lockup described above in clause (i) and they are registered pursuant to the Registration Rights
Agreement or an exemption from registration is available, and the restrictions described above in clause (i) have expired.

 

8.2 The
Subscriber agrees that if the Company seeks stockholder approval of a Business Combination, then in connection with such Business
Combination, the Subscriber shall (i) vote the Private Shares owned by it in favor of the Business Combination and (ii) not redeem
any Private Shares owned by the Subscriber in connection with such stockholder approval.

 

9. Governing
Law; Jurisdiction; Waiver of Jury Trial.

 

This Agreement shall
be governed by and construed in accordance with the laws of the State of New York for agreements made and to be wholly performed
within such state. THE PARTIES HERETO HEREBY WAIVE ANY RIGHT TO A JURY TRIAL IN CONNECTION WITH ANY LITIGATION PURSUANT TO THIS
AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY.

 

10. Assignment;
Entire Agreement; Amendment.

 

10.1 Assignment.
Neither this Agreement nor any rights hereunder may be assigned by any party to any other person other than by the Subscriber to
a person agreeing to be bound by the terms hereof, including the transfer restrictions contained in Section 7 hereof.

 

10.2 Entire
Agreement. This Agreement sets forth the entire agreement and understanding between the parties as to the subject matter thereof
and merges and supersedes all prior discussions, agreements and understandings of any and every nature among them.

 

10.3 Amendment.
Except as expressly provided in this Agreement, neither this Agreement nor any term hereof may be amended, waived, discharged or
terminated other than by a written instrument signed by all of the parties hereto.

 

10.4 Binding
upon Successors. This Agreement shall be binding upon and inure to the benefit of the parties hereto and to their respective
heirs, legal representatives, successors and permitted assigns.

 

    	 8

     

    

 

11. Notices.

 

11.1 Notices.
Unless otherwise provided herein, any notice or other communication to a party hereunder shall be sufficiently given if in writing
and personally delivered or sent by facsimile or other electronic transmission with copy sent in another manner herein provided
or sent by courier (which for all purposes of this Agreement shall include Federal Express or other recognized overnight courier)
or mailed to said party by certified mail, return receipt requested, at its address provided for herein or such other address as
either may designate for itself in such notice to the other. Communications shall be deemed to have been received when delivered
personally, on the scheduled arrival date when sent by next day or 2nd-day courier service, or if sent by facsimile upon receipt
of confirmation of transmittal or, if sent by mail, then three days after deposit in the mail. If given by electronic transmission,
such notice shall be deemed to be delivered (i) if by electronic mail, when directed to an electronic mail address at which the
stockholder has consented to receive notice; (ii) if by a posting on an electronic network together with separate notice to the
stockholder of such specific posting, upon the later of (1) such posting and (2) the giving of such separate notice; and (iii)
if by any other form of electronic transmission, when directed to the stockholder.

 

12. Counterparts.

 

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

 

13. Survival;
Severability.

 

13.1 Survival.
The representations, warranties, covenants and agreements of the parties hereto shall survive the Closing Date.

 

13.2 Severability.
In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable
or void, this Agreement shall continue in full force and effect without said provision; provided that no such severability shall
be effective if it materially changes the economic benefit of this Agreement to any party.

 

14. Headings.

 

The titles and subtitles
used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.

 

[Remainder of Page Intentionally Left
Blank]

 

    	 9

     

    

 

IN WITNESS WHEREOF,
the parties hereto have executed this Agreement to be effective as of the date first set forth above.

 

	 	COMPANY:
	 	 
	 	JUPITER ACQUISITION CORPORATION
	 	 	 	 
	 	By:	 
	 	 	Name:	                    
	 	 	Title:	 
	 	 	 	 
	 	SUBSCRIBER:
	 	 
	 	Jupiter Founders LLC
	 	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

[Signature Page to Private Placement
Unit Subscription Agreement]

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