Document:

Exhibit 10.1

 

December 7, 2020

 

Revolution Acceleration Acquisition Corp

1717 Rhode Island Avenue, NW 10th floor

Washington, D.C. 20036

 

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 or proposed to be entered into by and between Revolution Acceleration Acquisition Corp, a Delaware corporation (the
“Company”), and Credit Suisse Securities (USA) LLC, as the sole underwriter (the “Underwriter”),
relating to an underwritten initial public offering (the “Public Offering”), of up to 28,750,000 of the
Company’s units (including up to 3,750,000 units that may be purchased to cover the Underwriter’s option to purchase
additional units, if any) (the “Units”), each comprised of one share of Class A common stock of
the Company, par value $0.0001 per share (“Class A Common Stock”), and one-third of one redeemable
warrant (each whole warrant, a “Warrant”). Each 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”). Certain capitalized terms used herein
are defined in paragraph 12 hereof.

 

In order to induce the Company and the Underwriter
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, RAAC Management LLC, a Delaware limited liability company (the “Sponsor”),
and the other undersigned persons (each such other undersigned persons, an “Insider” and collectively,
the “Insiders”), each hereby agrees, severally but not jointly, with the Company as follows:

 

1. The Sponsor and each Insider agrees
that 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 owned by it, him or her in favor of any proposed Business Combination
(including any proposals recommended by the Company’s board of directors in connection with such Business Combination) and
(ii) not redeem any Shares owned by it, him or her in connection with such stockholder 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 stockholders in accordance with the Company’s second amended
and restated certificate of incorporation, 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 ten (10)
business days thereafter, subject to lawfully available funds therefor, redeem 100% of the shares of 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 (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) 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 the other requirements
of applicable law. The Sponsor and each Insider agrees to not propose any amendment to the Company’s second 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 Company’s initial Business Combination or to redeem 100% of the Offering Shares if the Company does not complete
its initial Business Combination within 24 months from the closing of the Public Offering or (B) with respect to any other provision
relating to stockholders’ rights or pre-initial 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),
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 as a result of any liquidation of the Company with respect to the Founder Shares held by it. The Sponsor and
each Insider hereby further waives, with respect to any Shares held by it, him or her, if any, any redemption rights it, he or
she may have in connection with (x) 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 Class A Common Stock and (y) a stockholder vote to approve an amendment to the Company’s
second amended and restated certificate of incorporation (A) to modify the substance or timing of the Company’s obligation
to allow redemptions in connection with the Company’s initial Business Combination or to redeem 100% of the Offering Shares
if the Company has not consummated its initial Business Combination within 24 months from the closing of the Public Offering or
(B) with respect to any other provision relating to stockholders’ rights or pre-initial Business Combination activity (although
the Sponsor and the Insiders 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 within 24 months from the date of the closing of the Public Offering).

 

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3. Notwithstanding the provisions
set forth in paragraphs 7(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 and each Insider shall not, without the prior written consent of the Underwriter,
(i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant
any option, right or warrant to purchase, or otherwise Transfer or dispose of, directly or indirectly, or file with, or submit
to, the Commission a registration statement under the Securities Act of 1933, as amended (the “Securities Act”),
relating to any Units, shares of Class A Common Stock, Founder Shares, Alignment Shares or Warrants or any securities convertible
into, or exercisable, or exchangeable for, any Units, shares of Class A Common Stock, Founder Shares, Alignment Shares or Warrants,
or publicly disclose the intention to undertake any of the foregoing, or (ii) enter into any swap or other arrangement that Transfers,
in whole or in part, any of the economic consequences of ownership of any Units, shares of Class A Common Stock, Founder Shares,
Alignment Shares or Warrants or any such other securities, whether any such transaction described in clause (i) or (ii) above
is to be settled by delivery of units or such other securities, in cash or otherwise; provided, however, that the
foregoing does not apply to the forfeiture of any Founder Shares or Alignment Shares pursuant to their terms or any Transfer of
Founder Shares or Alignment Shares to any current or future independent director of the company (as long as such current or future
independent director transferee is subject to this Letter Agreement or executes an agreement substantially identical to the terms
of this Letter Agreement, as applicable to directors and officers at the time of such Transfer; and as long as, to the extent
any Section 16 reporting obligation is triggered as a result of such Transfer, any related Section 16 filing includes a practical
explanation as to the nature of the Transfer). Each of the Insiders and the Sponsor acknowledges and agrees that, prior to the
effective date of any release or waiver, of the restrictions set forth in this paragraph 3 or paragraph 7 below, the Company may
announce the impending release or waiver by press release through a major news service at least two business days before the effective
date of the release or waiver. 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 stockholders, 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 registered public accounting firm)
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 registered public accounting firm) 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 Offering Share or (ii) such lesser amount per
Offering Share held in the Trust Account as of the date of the liquidation of 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 which may
be withdrawn to pay taxes, except as to any claims by a third party 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 Underwriter 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. (a) To the extent that the Underwriter
does not exercise its option to purchase up to an additional 3,750,000 Units within 45 days from the date of the Prospectus (and
as further described in the Prospectus), the Sponsor agrees that it shall forfeit, at no cost: (A) a number of Founder Shares in
the aggregate equal to 500,000 multiplied by a fraction, (i) the numerator of which is 3,750,000 minus the number of Units purchased
by the Underwriter upon the exercise of its option to purchase additional Units and (ii) the denominator of which is 3,750,000;
and (B) a number of Alignment Shares in the aggregate equal to 750,000 multiplied by a fraction, (i) the numerator of which is
3,750,000 minus the number of Units purchased by the Underwriter upon the exercise of its option to purchase additional Units and
(ii) the denominator of which is 3,750,000. All references in this Letter Agreement to Founder Shares or Alignment Shares of the
Company being forfeited shall take effect as a contribution of such Founder Shares or Alignment Shares, as applicable, to the Company’s
capital as a matter of Delaware law. The forfeiture will be adjusted to the extent that the option to purchase additional Units
is not exercised in full by the Underwriter so that the number of Founder Shares and Alignment Shares will equal an aggregate of
10.0% and 15.0%, respectively, of the Company’s issued and outstanding Shares after the Public Offering. The Initial Stockholders
further agree that to the extent that the size of the Public Offering is increased or decreased, the Company will effect a stock
dividend or stock repurchase or redemption, as applicable, immediately prior to the consummation of the Public Offering in such
amount as to maintain the number of Founder Shares and Alignment Shares at 10.0% and 15.0%, respectively, of the Company’s
issued and outstanding Shares upon the consummation of the Public Offering. In connection with such increase or decrease in the
size of the Public Offering, then (A) the references to 3,750,000 in the numerator and denominator of the formula in the first
sentence of this paragraph shall be changed to a number equal to 15.0% of the number of shares of Class A Common Stock included
in the Units issued in the Public Offering, (B) the reference to 500,000 in the formula set forth in the first sentence of this
paragraph shall be adjusted to, respectively, the total number of Founder Shares that the Sponsor would have to return to the Company
in order for the number of Founder Shares that the Sponsor owns (together with the Insiders) to equal an aggregate of 10.0% of
the Company’s issued and outstanding Shares after the Public Offering, and (C) the reference to 750,000 in the formula set
forth in the first sentence of this paragraph shall be adjusted to, respectively, the total number of Alignment Shares that the
Sponsor would have to return to the Company in order for the number of Alignment Shares that the Sponsor owns (together with the
Insiders) to equal an aggregate of 15.0% of the Company’s issued and outstanding Shares after the Public Offering.

 

6. The Sponsor and each Insider hereby
agrees and acknowledges that: (i) the Underwriter and the Company would be irreparably injured in the event of a breach by such
Sponsor or Insider of its, his or her obligations under paragraphs 1, 2, 3, 4, 5, 7(a), 7(b), and 10 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 seek injunctive
relief, in addition to any other remedy that such party may have in law or in equity, in the event of such breach.

 

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7. (a) The Sponsor and each Insider
agrees that it, he or she shall not Transfer any Founder Shares (or shares of Class A Common Stock issuable upon 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) the date on which the Company completes a liquidation, merger, stock exchange, reorganization or
other similar transaction that results in all of the Public Stockholders having the right to exchange their shares of Common Stock
for cash, securities or other property or (y) if the last reported sale price of the Class A 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 (the “Founder
Shares Lock-Up Period”).

 

(b) The Sponsor and each Insider agrees
that it, he or she shall not Transfer any Alignment Shares until the earlier of (A) their conversion into Class A Common Stock;
and (B) after the Company completes its initial Business Combination, the date on which the Company consummates a merger,
capital stock exchange, reorganization or other similar transaction that results in both a Change of Control and all of the Company’s
stockholders having the right to exchange their shares of common stock for cash, securities or other property (the “Alignment
Shares Lock-Up Period”).

 

(c) The Sponsor agrees that it shall
not Transfer any Private Placement Warrants or any shares of Class A Common Stock issued or issuable upon the exercise of the Private
Placement Warrants, until 30 days after the completion of a Business Combination (the “Private Placement Warrants Lock-Up
Period”, collectively with the Founder Shares Lock-Up Period and the Alignment Shares Lock-Up Period, the “Lock-Up
Periods”).

 

(d) Notwithstanding the provisions
set forth in paragraphs 7(a) and (b), Transfers of the Founder Shares, Alignment Shares, Private Placement Warrants and shares
of Class A Common Stock issued or issuable upon the exercise or conversion of the Private Placement Warrants, the Founder Shares
or the Alignment Shares and that are held by the Sponsor or any Insider or any of their permitted transferees (that have complied
with this paragraph 7(c)), are permitted (a) to the Company’s directors or officers, any affiliates or family members of
any of the Company’s directors or officers, any members of the Sponsor, or any affiliates of the Sponsor, (b) 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 or 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 private sales or Transfers made in connection with the consummation of the Company’s
Business Combination at prices no greater than the price at which the securities were originally purchased; (f) in the event of
the Company’s liquidation prior to the Company’s completion of an initial Business Combination; (g) by virtue of the
laws of Delaware or the Sponsor’s limited liability company agreement, as amended, upon dissolution of the Sponsor; or (h)
in the event of the Company’s completion of a liquidation, merger, stock exchange, reorganization or other similar transaction
which results in all of the Public Stockholders having the right to exchange their shares of Class A Common Stock for cash, securities
or other property subsequent to the Company’s completion of an initial Business Combination; provided, however,
that in the case of clauses (a) through (e), these permitted transferees must enter into a written agreement with the Company agreeing
to be bound by the Transfer restrictions and other applicable restrictions in this Letter Agreement.

 

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8. Each of the Sponsor and each Insider
agree to return to the Company for cancellation any Alignment Shares that it, he or she holds if such Alignment Shares have not
converted into shares of Class A Common Stock nine years after the initial Business Combination.

 

9. 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, if any (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 such Insider’s background. The Sponsor and each
Insider’s questionnaire furnished to the Company, if any, is true and accurate in all respects. The Sponsor and each Insider
represents and warrants that: it 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 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 is not currently a defendant
in any such criminal proceeding.

 

10. Except as disclosed in, or as expressly
contemplated by, 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).

 

11. The Sponsor and each Insider 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.

 

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12. As used herein, (i) “Business
Combination” shall mean a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar
business combination, involving the Company and one or more businesses; (ii) “Shares” shall mean,
collectively, the shares of Class A Common Stock, the Founder Shares and the Alignment Shares; (iii) “Founder
Shares” shall mean the 3,833,333 shares of Class B common stock, par value $0.0001 per share, of the Company
that are issued and outstanding immediately prior to the consummation of the Public Offering; (iv) “Alignment
Shares” shall mean the 5,750,000 shares of Class C common stock, par value $0.0001 per share, of the Company that
are issued and outstanding immediately prior to the consummation of the Public Offering; (v) “Initial Stockholders”
shall mean the Sponsor and any Insider that holds Founder Shares and/or Alignment Shares; (vi) “Private Placement Warrants”
shall mean the Warrants to purchase an aggregate of 4,666,667 shares of Class A Common Stock of the Company (or up to 5,166,667
shares of Class A Common Stock depending on the extent to which the Underwriter’s over-allotment option is exercised pursuant
to the Underwriting Agreement) that the Sponsor has agreed to purchase for an aggregate purchase price of $7,000,000 in the aggregate
(or up to $7,750,000 depending on the extent to which the Underwriter’s over-allotment option is exercised pursuant to the
Underwriting Agreement), or $1.50 per Warrant, in a private placement that shall occur substantially concurrently 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; (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 Securities Exchange Act of 1934,
as amended (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) herein; and (x) “Change of Control” shall mean the occurrence of any one of the following
after the consummation of the initial Business Combination (but not in connection with such initial Business Combination) if any
of the following occurs: (A) a “person” or “group” within the meaning of Section 13(d) of the Exchange
Act, other than the Company, any of its wholly owned subsidiaries and the Company’s and its wholly-owned subsidiaries’
respective employee benefit plans, (1) has become the direct or indirect “beneficial owner,” as defined in Rule 13d-3
under the Exchange Act, of Common Stock representing more than 50% of the voting power of the Common Stock and (2) has filed a
Schedule TO or any schedule, form or report under the Exchange Act disclosing that an event described in clause (1) above has occurred;
provided, however, that a “person” or “group” shall not be deemed a beneficial owner of, or to own beneficially,
any securities tendered pursuant to a tender or exchange offer made by or on behalf of such “person” or “group”
or any of their affiliates until such tendered securities are accepted for purchase or exchange thereunder; (B) the consummation
of (1) any recapitalization, reclassification or change of the outstanding shares of common stock (other than a change from no
par value to par value, a change in par value or a change from par value to no par value, or changes resulting from a subdivision
or combination) as a result of which all of the outstanding shares of common stock would be converted into, or exchanged for, stock,
other securities, or other property or assets; (2) any share exchange, consolidation or merger of the company pursuant to which
all of the outstanding shares of Class A Common Stock shall be converted into cash, securities or other property or assets (including
any combination thereof); or (3) any sale, lease or other transfer in one transaction or a series of transactions of all or substantially
all of the Company’s or its consolidated assets, taken as a whole, to any person or entity (other than one of the Company’s
wholly owned subsidiaries); provided, however, that a transaction described in clauses (1) or (2) in which the holders of all classes
of the Company’s common equity immediately prior to such transaction own, directly or indirectly, more than 50% of all classes
of the common equity of the continuing or surviving entity immediately after such transaction in substantially the same proportions
as such ownership immediately prior to such transaction shall not be a Change of Control pursuant to this clause (B); (C) the Company’s
stockholders approve any plan or proposal for the Corporation’s liquidation or dissolution (other than a liquidation or dissolution
that shall occur contemporaneously with a transaction described in clause (B)(2) above); or (D) shares of the Class A Common Stock
cease to be listed or quoted on any of The New York Stock Exchange, the NASDAQ Global Select Market or the NASDAQ Global Market
(or any of their respective successors); provided, however, that a transaction or transactions described in clauses (A) or (B)
above shall not constitute a Change of Control, if at least 90% of the consideration received or to be received by the holders
of shares of the Common Stock, excluding cash payments for fractional shares and cash payments made in respect of dissenters’
appraisal rights, in connection with such transaction or transactions consists of shares of common stock that are listed or quoted
on any of The New York Stock Exchange, the NASDAQ Global Select Market or the NASDAQ Global Market (or any of their respective
successors) or shall be so listed or quoted when issued or exchanged in connection with such transaction or transactions, and as
a result of such transaction or transactions such consideration becomes the equity interests in which shares of the Founder Shares
or Alignment Shares convert into.

 

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13. 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 (1) each Insider
that is the subject of any such change, amendment modification or waiver and (2) the Sponsor.

 

14. 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 and each Insider
and their respective successors, heirs and assigns and permitted transferees.

 

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. 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.

 

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 or
other electronic transmission.

 

18. 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.

 

19. This Letter Agreement shall terminate
on the earlier of (i) the expiration of the Lock-Up Periods and (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 June
30, 2021; provided further that paragraph 4 of this Letter Agreement shall survive such liquidation.

 

20. 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.

 

[Signature page follows]

 

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	 	Sincerely,
	 	 
	 	RAAC MANAGEMENT LLC

 

	 	By:	/s/ John K. Delaney
	 	 	Name: John K. Delaney
	 	 	Title:   Authorized Signatory

 

	 	/s/ John K. Delaney
	 	John K. Delaney
	 	 
	 	/s/ Stephen M. Case
	 	Stephen M. Case
	 	 
	 	/s/ Steven A. Museles
	 	Steven A. Museles
	 	 
	 	/s/ Phyllis R. Caldwell
	 	Phyllis R. Caldwell
	 	 
	 	/s/ Jason M. Fish
	 	Jason M. Fish
	 	 
	 	/s/ Andrew Wallace
	 	Andrew Wallace

 

[Signature Page to Letter Agreement]

 

     

     

    

 

Acknowledged and Agreed:

 

Revolution Acceleration
Acquisition Corp

 

	By:	/s/ John K. Delaney	 
		Name:  John K. Delaney	 
		Title:    Chief Executive Officer	 

 

[Signature Page to Letter Agreement]Exhibit
10.2

 

INVESTMENT
MANAGEMENT TRUST AGREEMENT

 

This
Investment Management Trust Agreement (this “Agreement”) is made effective as of December 7, 2020, by
and between Revolution Acceleration Acquisition Corp, a Delaware corporation (the “Company”), 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. 333-250850 (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 share of the Company’s Class A common stock, par value
$0.0001 per share (“Common Stock”), and one-third of one redeemable warrant, each whole warrant entitling
the holder thereof to purchase one share of Common Stock (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; and

 

WHEREAS,
the Company has entered into an Underwriting Agreement (the “Underwriting Agreement”) with Credit Suisse
Securities (USA) LLC, as the sole underwriter (the “Underwriter”); and

 

WHEREAS,
as described in the Prospectus, $250,000,000 of the gross proceeds of the Offering and sale of the Private Placement Warrants
(as defined in the Underwriting Agreement) (or $287,500,000 if the Underwriter’s 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 Company and the holders of the shares of Common Stock included
in the Units issued in the Offering 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 stockholders for whose benefit the Trustee
shall hold the Property will be referred to as the “Public Stockholders,” and the Public Stockholders
and the Company will be referred to together as the “Beneficiaries”); and

 

WHEREAS,
pursuant to the Underwriting Agreement, a portion of the Property equal to $8,750,000, or $10,062,500 if the Underwriter’s
over-allotment option is exercised in full, is attributable to deferred underwriting discounts and commissions that may be payable
by the Company to the Underwriter upon the consummation of the Business Combination (as defined below) (the “Deferred
Discount”); and

 

WHEREAS,
the Company 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 located in the United States at J.P. Morgan Chase Bank, N.A. (or at another U.S. chartered commercial bank with consolidated
assets of $100 billion or more) and at a brokerage institution selected by the Trustee that is reasonably satisfactory to the
Company;

 

     

     

    

 

(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 Company, 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 (or any successor rule), which invest only in direct U.S. government treasury obligations,
as determined by the Company; 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 Company’s instructions hereunder; while on
deposit, the Trustee may earn bank credits or other consideration;

 

(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 Company and the Underwriter of all communications received by the Trustee with respect to any Property requiring action
by the Company;

 

(f) Supply
any necessary information or documents as may be requested by the Company (or its authorized agents) in connection with the Company’s
preparation of tax returns relating to assets held in the Trust Account or in connection with the preparation or completion of
the audit of the Company’s financial statements by the Company’s auditors;

 

(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 Company to do so;

 

(h) Render
to the Company 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 following (x) receipt of, and only in accordance with the terms
of, a letter from the Company (“Termination Letter”) in a form substantially similar to that attached
hereto as either Exhibit A or Exhibit B, as applicable, signed on behalf of the Company by its Chief Executive Officer
or other authorized officer of the Company (an “Authorized Representative”), and complete the liquidation
of the Trust Account and distribute the Property in the Trust Account, including interest (which interest shall be net of any
taxes payable, and less up to $100,000 of interest that may be released to the Company to pay dissolution expenses), only as directed
in the Termination Letter and 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 stockholders in
accordance with the Company’s second amended and restated certificate of incorporation, as amended from time to time, 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 (which interest shall be net of any taxes payable, and less up to $100,000 of interest that may be
released to the Company to pay dissolution expenses) shall be distributed to the Public Stockholders of record as of such date;

 

    2

     

    

 

(j) Upon
written request from the Company, 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
on behalf of the Company the amount of interest earned on the Property requested by the Company to cover any tax obligation owed
by the Company as a result of assets of the Company or interest or other income earned on the Property, which amount shall be
delivered directly to the Company by electronic funds transfer or other method of prompt payment, and the Company 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 Company in writing to make such distribution so long as there is no reduction in the principal amount per share
initially deposited in the Trust Account; provided, further, however, that if the tax to be paid is a franchise
tax, the written request by the Company to make such distribution shall be accompanied by a copy of the franchise tax bill for
the Company and a written statement from the principal financial officer of the Company setting forth the actual amount payable
(it being acknowledged and agreed that any such amount in excess of interest income earned on the Property shall not be payable
from the Trust Account). The written request of the Company referenced above shall constitute presumptive evidence that the Company
is entitled to said funds, and the Trustee shall have no responsibility to look beyond said request;

 

(k) Upon
written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto
as Exhibit D (a “Stockholder Redemption Withdrawal Instruction”), the Trustee shall distribute
to or on behalf of the Company the amount requested by the Company to be used to redeem shares of Common Stock from Public Stockholders
properly submitted in connection with a stockholder vote to approve an amendment to the Company’s second amended and restated
certificate of incorporation (A) to modify the substance or timing of the Company’s obligation to allow redemptions in connection
with its initial Business Combination or to redeem 100% of the Company’s public shares of Common Stock if the Company does
not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision
relating to the Company’s stockholders’ rights or pre-initial Business Combination activity. The written request of
the Company referenced above shall constitute presumptive evidence that the Company is 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), (j) or (k) above.

 

2. Agreements
and Covenants of the Company. The Company hereby agrees and covenants to:

 

(a) Give
all instructions to the Trustee hereunder in writing, signed by an Authorized Representative of the Company. 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 the Company
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 reasonable and documented
expenses, including reasonable outside 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 Company 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 Company 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 Company,
which such consent shall not be unreasonably withheld. The Company 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 the Company pursuant to Sections
1(i) through 1(j) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration
fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except
as set forth in this Section 2(c) and as may be provided in Section 2(b) hereof;

 

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

 

(e) Provide
the Underwriter 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) Expressly
provide in any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the Form
of Exhibit A that the Deferred Discount be paid directly to the account or accounts directed by the Underwriter; and

 

    3

     

    

 

(g) 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.

 

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 Company given as provided
herein to do so and the Company 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 to give instructions hereunder shall not be continuing unless provided
otherwise in such designation, or unless the Company 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 written direction, order, notice, demand, certificate,
opinion or advice of counsel (including counsel chosen by the Trustee with written notification to the Company, 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;

 

(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;

 

    4

     

    

 

(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 Company documenting the taxes payable by the Company, 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 Company, including, but
not limited to, franchise and 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) or 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 Company under this Agreement, including,
without limitation, under Section 2(b) or Section 2(c) hereof, the Trustee shall pursue such Claim solely against
the Company and its 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 Company that it desires to resign under this Agreement, the Company shall use its 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 Company notifies the Trustee that a successor trustee has been appointed and has agreed to become subject to the
terms of this Agreement (whether following the Trustee giving notice that it desires to resign under this Agreement or the Company
otherwise electing to replace the Trustee under 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 Company does 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;

 

(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 and distributed the Property in accordance with the provisions of the Termination Letter, this Agreement
shall terminate except with respect to Section 2(b); or

 

(c) If
the Offering is not consummated within ten (10) business days of the date of this Agreement, in which case any funds received
by the Trustee from the Company or RAAC Management LLC, as applicable, shall be returned promptly following the receipt by the
Trustee of written instructions from the Company.

 

    5

     

    

 

6. Miscellaneous.

 

(a) The
Company and the Trustee each acknowledge that the Trustee will follow the security procedures set forth herein with respect to
funds transferred from the Trust Account. The Company 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 Company, 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 out-of-pocket 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.

 

(c) This
Agreement contains the entire agreement and understanding of the parties hereto with respect to the subject matter hereof. Except
for Section 1(i), 1(j) or 1(k) (which sections may not be modified, amended or deleted without the affirmative
vote of sixty-five percent (65%) of the then outstanding shares of Common Stock and Class B common stock, par value $0.0001 per
share, of the Company voting together as a single class; provided that no such amendment will affect any Public Stockholder who
has otherwise validly indicated his, her or its election to redeem his, her or its shares of Common Stock in connection with a
stockholder vote sought to amend this Agreement), 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.

 

(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 electronic mail:

 

if
to the Trustee, to:

 

Continental
Stock Transfer & Trust Company

1
State Street, 30th Floor

New
York, New York 10004

Attn:
Francis Wolf & Celeste Gonzalez

Email:
fwolf@continentalstock.com;

cgonzalez@continentalstock.com

 

    6

     

    

 

if
to the Company, to:

 

Revolution
Acceleration Acquisition Corp

1717
Rhode Island Avenue, NW 10th floor

Washington,
D.C. 20036

Attn:
John K. Delaney

Email:
john@johnkdelaney.com

 

in
each case, with copies to:

 

Skadden,
Arps, Slate, Meagher & Flom LLP

300
South Grand Avenue, Suite 3400

Los
Angeles, California 90071

Attn:
Gregg A. Noel, Esq. and P. Michelle Gasaway, Esq.

 

and

 

Credit
Suisse Securities (USA) LLC

Eleven
Madison Avenue

New
York, New York 10010-3629

Attn:
Head of Equity Capital Markets, with a copy to the General Counsel Investment Banking

 

and

 

Shearman
& Sterling LLP

599
Lexington Avenue

New
York, New York 10022

Attn:
Harald Halbhuber, Esq. and Merritt Johnson, Esq.

 

(f) This
Agreement may not be assigned by the Trustee without the prior consent of the Company.

 

(g) Each
of the Company 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.

 

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

 

(i) This
Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts
shall together constitute one and the same instrument. Delivery of a signed counterpart of this Agreement by facsimile or electronic
transmission shall constitute valid and sufficient delivery thereof.

 

(j) Each
of the Company and the Trustee hereby acknowledges and agrees that the Underwriter is a third party beneficiary of this Agreement.

 

(k) 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]

 

    7

     

    

 

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

 

	 	Revolution Acceleration Acquisition Corp
	 	 
	 	By:	/s/ John K. Delaney
	 	 	Name:	 John K. Delaney
	 	 	Title:	Chief Executive Officer
	 	 	 
	 	TRUSTEE:
	 	 	 
	 	Continental Stock Transfer & Trust Company,
	 	as Trustee
	 	 	 
	 	By:  	/s/ Francis Wolf
	 	 	Name:  	 Francis Wolf
	 	 	Title:	Vice President

 

     

     

    

 

SCHEDULE
A

 

 

	Fee Item	 	Time and method of payment	 	Amount	 
	Initial acceptance fee	 	Initial closing of the Offering by wire transfer.	 	$	3,500.00	 
	Annual fee	 	First year fee payable at initial closing of the Offering by wire transfer, thereafter on the anniversary of the effective date of the Offering by wire transfer or check.	 	$	10,000.00	 
	Transaction processing fee for disbursements to Company under Sections 1(i) and 1(j)	 	Billed to Company following disbursement made to Company under Sections 1(i) and 1(j)	 	$	250.00	 
	Paying Agent services as required pursuant to Section 1(i) and 1(k)	 	Billed to Company upon delivery of service pursuant to Section 1(i) and 1(k)	 	 	Prevailing rates	 

 

     

     

    

 

EXHIBIT
A

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer & Trust Company

One
State Street, 30th Floor

New
York, New York 10004

Attn:
Francis Wolf & Celeste Gonzalez

 

		Re:	Trust
Account – Termination Letter

 

Dear
Mr. Wolf and Ms. Gonzalez:

 

Pursuant
to Section 1(i) of the Investment Management Trust Agreement between Revolution Acceleration Acquisition Corp (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of December 7, 2020 (the
“Trust Agreement”), this is to advise you that the Company has entered into an agreement with___________________
(the “Target Business”) to consummate a merger, capital stock exchange, asset acquisition, stock purchase,
reorganization or other similar business combination with the Target Business (the “Business Combination”)
on or about [insert date]. The Company shall notify you at least seventy-two (72) hours in advance of the actual date (or such
shorter time period as you may agree) 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 above-referenced 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 Underwriter (with respect to the Deferred Discount) and the Company 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, neither the Company nor the Underwriter will 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 substantially, concurrently with your transfer of funds to the accounts as directed
by the Company (the “Notification”) and (ii) the Company shall deliver to you (a) a certificate
by the Chief Executive Officer of the Company, which verifies that the Business Combination has been approved by a vote of the
Company’s stockholders, if a vote is held, and (b) joint written instruction signed by the Company and the Underwriter
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 Company in writing of the same and the Company shall direct you as to whether such funds
should remain in the Trust Account and be distributed after the Consummation Date to the Company. 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.

 

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 Company, 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 the notice as soon thereafter as possible.

 

	 	Very truly yours,
	 	 
	 	Revolution Acceleration Acquisition Corp
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

cc:
Credit Suisse Securities (USA) LLC

 

     

     

    

 

EXHIBIT
B

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer & Trust Company

One
State Street, 30th Floor

New
York, New York 10004

Attn:
Francis Wolf & Celeste Gonzalez

 

		Re:	Trust
Account – Termination Letter

 

Dear
Mr. Wolf and Ms. Gonzalez:

 

Pursuant
to Section 1(i) of the Investment Management Trust Agreement between Revolution Acceleration Acquisition Corp (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of December 7, 2020 (the
“Trust Agreement”), this is to advise you that the Company has been unable to effect a merger, capital
stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination with a target business
(the “Business Combination”) within the time frame specified in the Company’s second amended and
restated certificate of incorporation, 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
Public Stockholders. The Company has selected _______________ as the effective date for the purpose of determining when the Public
Stockholders 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 Company’s Public Stockholders
in accordance with the terms of the Trust Agreement and the second amended and restated certificate of incorporation of the Company.
Upon the distribution of all the funds, your obligations under the Trust Agreement shall be terminated, except to the extent otherwise
provided in Section 1(j) of the Trust Agreement.

 

	 	Very truly yours,
	 	 
	 	Revolution Acceleration Acquisition Corp
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

cc:
Credit Suisse Securities (USA) LLC

 

     

     

    

 

EXHIBIT
C

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer & Trust Company

One
State Street, 30th Floor

New
York, New York 10004

Attn:
Francis Wolf & 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 between Revolution Acceleration Acquisition Corp (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of December 7, 2020 (the
“Trust Agreement”), the Company hereby requests that you deliver to the Company $____________ 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.

 

The
Company 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 the Company’s operating account at:

 

[WIRE
INSTRUCTION INFORMATION]

 

	 	Very truly yours,
	 	 
	 	Revolution Acceleration Acquisition Corp
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

cc:
Credit Suisse Securities (USA) LLC

 

     

     

    

 

EXHIBIT
D

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer & Trust Company

One
State Street, 30th Floor

New
York, New York 10004

Attn:
Francis Wolf & Celeste Gonzalez

 

		Re:	Trust
Account – Stockholder Redemption Withdrawal Instruction

 

Dear
Mr. Wolf and Ms. Gonzalez:

 

Pursuant
to Section 1(k) of the Investment Management Trust Agreement between Revolution Acceleration Acquisition Corp (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of December 7, 2020 (the
“Trust Agreement”), the Company hereby requests that you deliver to the redeeming Public Stockholders
on behalf 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
funds as described above are needed to pay the Public Stockholders who have properly elected to have their shares of Common Stock
redeemed by the Company in connection with a stockholder vote to approve an amendment to the Company’s second amended and
restated certificate of incorporation (A) to modify the substance or timing of the Company’s obligation to allow redemptions
in connection with its initial Business Combination or to redeem 100% of the Company’s public shares of Common Stock if
the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to
any other provision relating to the Company’s stockholders’ rights or pre-initial Business Combination activity. 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 Stockholders in accordance with your customary procedures.

 

	 	Very truly yours,
	 	 
	 	Revolution Acceleration Acquisition Corp
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

cc:
Credit Suisse Securities (USA) LLC

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