Document:

Exhibit
10.4

 

Twelve
Seas Investment Company II 

2685
Nottingham Avenue

Los
Angeles, CA 90027 

 

February
25, 2021

 

Twelve
Seas Capital, Inc.

2685
Nottingham Avenue

Los Angeles, CA 90027

 

Re: Administrative
Support Agreement

 

Ladies
and Gentlemen:

 

This
letter agreement by and between Twelve Seas Investment Company II (the “Company”) and Twelve Seas Capital, Inc. (“Twelve
Capital”), dated as of the date hereof, will confirm our agreement that, commencing on the date the securities of the Company
are first listed on The Nasdaq Capital Market (the “Listing Date”), pursuant to a Registration Statement on Form S-1
and prospectus filed with the U.S. Securities and Exchange Commission (the “Registration Statement”) and continuing
until the earlier of the consummation by the Company of an initial business combination or the Company’s liquidation (in
each case as described in the Registration Statement) (such earlier date hereinafter referred to as the “Termination Date”):

 

(i)
Twelve Capital shall make available, or cause to be made available, to the Company, at 2685 Nottingham Avenue, Los Angeles,
CA 90027 (or any successor location of Twelve Capital), certain office space, utilities and secretarial and administrative support
as may be reasonably required by the Company. In exchange therefor, the Company shall pay Twelve Capital the sum of $10,000 per
month on the Listing Date and continuing monthly thereafter until the Termination Date; and

 

(ii)
Twelve Capital hereby irrevocably waives any and all right, title, interest, causes of action and claims of any kind as a result
of, or arising out of, this letter agreement (each, a “Claim”) in or to, and any and all right to seek payment of
any amounts due to it out of, the trust account established for the benefit of the public stockholders of the Company and into
which substantially all of the proceeds of the Company’s initial public offering will be deposited (the “Trust Account”)
as a result of, or arising out of, this letter agreement, and hereby irrevocably waives any Claim it may have in the future, which
Claim would reduce, encumber or otherwise adversely affect the Trust Account or any monies or other assets in the Trust Account,
and further agrees not to seek recourse, reimbursement, payment or satisfaction of any Claim against the Trust Account or any
monies or other assets in the Trust Account for any reason whatsoever.

 

This
letter agreement constitutes the entire agreement and understanding of the parties hereto in respect of its subject matter 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 amended, modified or waived as to any particular provision, except by a written instrument executed
by the parties hereto.

 

No
party hereto may assign either this letter agreement or any of its rights, interests, or obligations hereunder without the prior
written approval of the other party. 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 constitutes the entire relationship of the parties hereto, and any litigation between the parties (whether grounded
in contract, tort, statute, law or equity) shall be governed by, construed in accordance with, and interpreted pursuant to the
laws of the State of New York, without giving effect to its choice of law principles. 

 

[Signature
Page Follows] 

 

     

     

    

 

	 	Very
    truly yours,
	 	 
	 	TWELVE SEAS INVESTMENT COMPANY II
    
	 	 	 
	 	By:	 /s/
    Dimitri Elkin
	 	 	Name:	Dimitri Elkin
	 	 	Title:	Chief Executive Officer

 

AGREED
TO AND ACCEPTED BY:

 

TWELVE
SEAS CAPITAL, INC.

 

	By:	/s/
Dimitri Elkin	 
	 	Name: Dimitri Elkin	 
	 	Title:   Director	 

 

[Signature
Page to Administrative Support Agreement]Exhibit 10.5

 

UNIT SUBSCRIPTION AGREEMENT

 

This UNIT SUBSCRIPTION AGREEMENT (this “Agreement”)
is made as of February 25, 2021, by and between Twelve Seas Investment Company II, a Delaware corporation (the “Company”),
having its principal place of business at 2685 Nottingham Avenue, Los Angeles, CA 90027, and Twelve Seas Sponsor II LLC, a
Delaware limited liability company (the “Subscriber”), having its principal place of business at 2685 Nottingham
Avenue, Los Angeles, CA 90027.

 

WHEREAS, the Company desires to sell to
the Subscriber on a private placement basis (the “Placement”) an aggregate of 600,000 units (the “Initial
Units”) of the Company, and up to an additional 60,000 units (the “Additional Units” and, together
with the Initial Units, the “Units”) in the event that the underwriters’ 45-day over-allotment option
(“Over-Allotment Option”) is exercised in full or part, each Unit comprised of one share of Class A common stock
of the Company, par value $0.0001 per share (“Common Stock”) and one-third of one warrant, each whole warrant
exercisable to purchase one share of Common Stock (“Warrant”), for a purchase price of $10.00 per Unit. The
shares of Common Stock underlying the Warrants are hereinafter referred to as the “Warrant Shares”.  The
shares of Common Stock underlying the Units (excluding the Warrant Shares) are hereinafter referred to as the “Placement
Shares.” The Warrants underlying the Units are hereinafter referred to as the “Placement Warrants.”  The
Units, Placement Shares, Placement Warrants and Warrant Shares, collectively, are hereinafter referred to as the “Securities.”  Each
whole Placement Warrant is exercisable to purchase one share of Common Stock at an exercise price of $11.50 during the period commencing
on the later of (i) twelve (12) months from the date of the closing of the Company’s initial public offering of units (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 in connection with the IPO, as
amended at the time it becomes effective (the “Registration Statement”), and expiring on the fifth anniversary
of the consummation of the Business Combination; and

 

WHEREAS, the Subscriber wishes to purchase
the Initial Units and up to 60,000 Additional Units, 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 Initial
Units. Upon the terms and subject to the conditions of this Agreement, 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) the Initial Units in consideration
of the payment of the Purchase Price (as defined below). On the Initial Closing Date, the Company shall, at its option, deliver
to the Subscriber the certificates representing the Securities purchased or effect such delivery in book-entry form.

 

1.2. Purchase Price. The Subscriber shall
pay $6,000,000 (the “Purchase Price”) by wire transfer of immediately available funds or by such other method
as may be reasonably acceptable to the Company, 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”),
one (1) business day prior to the date of effectiveness of the Registration Statement.

 

1.3. Initial Closing. The closing of the
purchase and sale of 600,000 Initial Units shall take place simultaneously with the closing of the IPO (the “Initial Closing
Date”). The closing of such Units shall take place at the offices of Ellenoff Grossman & Schole LLP, 1345 Avenue
of the Americas, 11th Floor, New York, New York, 10105, or such other place as may be agreed upon by the parties
hereto.

 

1.4. Purchase and Issuance of Additional
Units. Upon the terms and subject to the conditions of this Agreement, the Subscriber hereby agrees to purchase from the Company,
and the Company hereby agrees to sell to the Subscriber, on the Over-allotment Closing Date (as defined below) up to an aggregate
of 60,000 Additional Units in consideration of the payment of $10.00 per Additional Unit for a purchase price of up to $600,000
and in the same proportion as the amount of the Over-Allotment Option is exercised. On the Over-Allotment Closing Date (as defined
below), the Company shall, at its option, deliver to the Subscriber the certificates representing the Securities purchased or effect
such delivery in book-entry form.

 

     

     

    

 

1.5. Purchase Price. As payment in full
for the Additional Units being purchased under this Agreement, the Subscriber shall pay $10.00 per Additional Unit being purchased
by wire transfer of immediately available funds or by such other method as may be reasonably acceptable to the Company, to the
Trust Account on the date of the consummation of the closing of the over-allotment option, and concurrently with the consummation
thereof, or on such earlier time and date as may be mutually agreed by the Company and the Subscriber (each such date, an “Over-Allotment
Closing Date”; together with the Initial Closing Date, the “Closing Dates” and each, a “Closing
Date”).

 

1.6. Over-Allotment Closing. The Over-Allotment
Closing Date shall take place at the offices of Ellenoff Grossman & Schole LLP, 1345 Avenue of the Americas, 11th Floor,
New York, New York, 10105, or such other place as may be agreed upon by the parties hereto.

 

1.7 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 prior
to June 30, 2021.

 

2.  Representations
and Warranties of the Subscriber

 

The Subscriber represents
and warrants to the Company that:

 

2.1. No Government Recommendation or
Approval.  The Subscriber understands that no federal or state agency has passed upon or made any recommendation or endorsement
of the Company or the Placement of the Securities.

 

2.2. 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.

 

2.3. 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 of an agreement (the “Insider Letter”) to
be entered into with respect to the Securities between, among others, the Subscriber  and the Company, as described in
the Registration Statement), 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 under the Insider Letter.  The Subscriber
shall not engage in hedging transactions with regard to the Securities unless in compliance with the Securities Act.

   

2.4. Restrictions on Transfer.  The
Subscriber acknowledges and understands the Units 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 and,
if in the future the Subscriber decides to offer, resell, pledge or otherwise transfer the Securities, such Securities may be offered,
resold, pledged or otherwise transferred only (A) pursuant to an effective registration statement filed under the Securities
Act, (B) pursuant to an exemption from registration under Rule 144 promulgated under the Securities Act, if available, or
(C) 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. Notwithstanding the foregoing, the Subscriber
acknowledges and understands the Securities are subject to transfer restrictions as described in Section 8 hereof. The Subscriber
agrees that if any transfer of its Securities or any interest therein is proposed to be made, as a condition precedent to any such
transfer, the Subscriber may be required to deliver to the Company an opinion of counsel satisfactory to the Company with respect
to such transfer. Absent registration or another available exemption from registration, the Subscriber agrees it will not resell
the Securities (unless otherwise permitted pursuant to the Insider Letter, as described in the Registration Statement).  The
Subscriber further acknowledges that because the Company is a shell company, Rule 144 may not be available to the Subscriber for
the resale of the Securities until the one year anniversary following consummation of the initial Business Combination of the Company,
despite technical compliance with the requirements of Rule 144 and the release or waiver of any contractual transfer restrictions.

 

    2

     

    

 

2.5. Sophisticated
Investor.

 

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

 

(ii) The Subscriber is aware that an investment
in the Securities is highly speculative and subject to substantial risks because, among other things, 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. The Subscriber is able to bear the economic
risk of its investment in the Securities for an indefinite period of time.

 

2.6. Independent Investigation.  The
Subscriber, in making the decision to purchase the Units, has relied upon an independent investigation of the Company and has not
relied upon any information or representations made by any third parties or upon any oral or written representations or assurances
from the Company, its officers, directors or employees or any other representatives or agents of the Company, other than as set
forth in this Agreement. The Subscriber is familiar with the business, operations and financial condition of the Company and has
had an opportunity to ask questions of, and receive answers from the Company’s officers and directors concerning the Company
and the terms and conditions of the offering of the Units and has had full access to such other information concerning the Company
as the Subscriber has requested. The Subscriber confirms that all documents that it has requested have been made available and
that the Subscriber has been supplied with all of the additional information concerning this investment which the Subscriber has
requested.

 

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

 

2.8. Authority. This Agreement has been
validly authorized, executed and delivered by the Subscriber and is a valid and binding agreement enforceable 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.

  

2.9. 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 charter documents, (ii) any 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.

 

2.10. No Legal Advice from Company.  The
Subscriber acknowledges it has had the opportunity to review this Agreement and the transactions contemplated by this Agreement
and the other agreements entered into between the parties hereto with the Subscriber’s own legal counsel and investment and
tax advisors.  Except for any statements or representations of the Company made in this Agreement and the other agreements
entered into between the parties hereto, the Subscriber is relying solely on such counsel and advisors and not on any statements
or representations of the Company or any of its representatives or agents for legal, tax or investment advice with respect to this
investment, the transactions contemplated by this Agreement or the securities laws of any jurisdiction.

 

2.11. Reliance on Representations and Warranties.  The
Subscriber understands the 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.

 

    3

     

    

 

2.12. No General Solicitation.  The
Subscriber is not subscribing for the 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 a registration statement with respect to the
IPO filed with the Securities and Exchange Commission (“SEC”).

 

2.13. Legend.  The Subscriber
acknowledges and agrees the 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. 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, $0.0001 par value per share (the “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 7,187,500 shares of Class B Common Stock (of which up to 937,500 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.

 

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

  

3.3. 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.

 

3.4. 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.

 

    4

     

    

 

3.5. 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 a 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 Units, Placement Shares, Placement Warrants
or Warrant Shares in accordance with the terms hereof. 

 

4.  Legends

 

4.1. Legend. The Company will issue the
Units, Placement Shares and Placement Warrants, and when issued, the Warrant Shares, purchased by the Subscriber in the name of
the Subscriber. The certificates (if any) evidencing 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 LOCKUP PURSUANT TO AN INSIDER LETTER BETWEEN, AMONG OTHERS, TWELVE SEAS INVESTMENT COMPANY II
AND TWELVE SEAS SPONSOR II LLC AND MAY ONLY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE TERM OF THE
LOCKUP PURSUANT TO THE TERMS SET FORTH IN THE INSIDER LETTER.”

  

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 Securities.

 

4.3. Company’s Refusal to Register
Transfer of the Securities.  The Company shall refuse to register any transfer of the Securities, if in the sole judgment
of the Company such purported transfer would not be made (i) pursuant to an effective registration statement filed under the
Securities Act, or pursuant to an available exemption from the registration requirements of the Securities Act and (ii) in compliance
herewith and with the Insider Letter.

 

4.4. Registration Rights.  The
Subscriber will be entitled to certain registration rights which will be governed by a registration rights agreement (“Registration
Rights Agreement”) to be entered into between, among others, the Subscriber and the Company, 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 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 the 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.

 

    5

     

    

 

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

 

7.  Rescission
Right Waiver and Indemnification.

 

7.1. The Subscriber understands and acknowledges
an exemption from the registration requirements of the Securities Act requires there be no general solicitation of purchasers of
the Units. In this regard, if the IPO were deemed to be a general solicitation with respect to the Units, the offer and sale of
such Units may not be exempt from registration and, if not, the Subscriber may have a right to rescind its purchase of the Units.
In order to facilitate the completion of the Placement and in order to protect the Company, its stockholders and the amounts in
the Trust Account from claims that may adversely affect the Company or the interests of its stockholders, the Subscriber hereby
agrees to waive, to the maximum extent permitted by applicable law, any claims, right to sue or rights in law or arbitration, as
the case may be, to seek rescission of its purchase of the Units. The Subscriber acknowledges and agrees this waiver is being made
in order to induce the Company to sell the Units to the Subscriber. The Subscriber agrees the foregoing waiver of rescission rights
shall apply to any and all known or unknown actions, causes of action, suits, claims or proceedings (collectively, “Claims”)
and related losses, costs, penalties, fees, liabilities and damages, whether compensatory, consequential or exemplary, and expenses
in connection therewith, including reasonable attorneys’ and expert witness fees and disbursements and all other expenses
reasonably incurred in investigating, preparing or defending against any Claims, whether pending or threatened, in connection with
any present or future actual or asserted right to rescind the purchase of the Units hereunder or relating to the purchase of the
Units and the transactions contemplated hereby.

 

7.2. The Subscriber agrees not to seek recourse
against the Trust Account for any reason whatsoever in connection with its purchase of the Units or any Claim that may arise now
or in the future.

 

7.3. The Subscriber acknowledges and agrees
that the stockholders of the Company are and shall be third-party beneficiaries of this Section 7.

 

7.4. The Subscriber agrees that to the extent
any waiver of rights under this Section 7 is ineffective as a matter of law, the Subscriber has offered such waiver for the benefit
of the Company as an equitable right that shall survive any statutory disqualification or bar that applies to a legal right. The
Subscriber acknowledges the receipt and sufficiency of consideration received from the Company hereunder in this regard.

  

8.  Terms of
the Units and Placement Warrants

 

8.1. The Units and their component parts
are substantially identical to the units to be offered in the IPO except that: (i) the Units and component parts are subject to
the transfer restrictions described in the Insider Letter, (ii) the Placement Warrants will be non-redeemable if called for redemption
pursuant to Section 6.1 of the Warrant Agreement so long as they are held by the Subscriber (or any of its permitted transferees)
and as otherwise provided in Section 5 herein, and may be exercisable on a “cashless” basis if held by the Subscriber
or its permitted transferees, as further described in the Warrant Agreement and (iii) the 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 to
be signed on or before the date of the Prospectus or an exemption from registration is available.

 

8.2. The Subscriber agrees to vote the Placement
Shares in accordance with the terms of the Insider Letter and as otherwise described in the Registration Statement.

 

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.

 

    6

     

    

 

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 waiver 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. 

 

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 (a) if by electronic mail, when directed to an electronic mail address at which the stockholder
has consented to receive notice; (b) 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 (c) 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 Dates.

 

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]

 

    7

     

    

 

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

 

	 	COMPANY:
	 	 
	 	TWELVE SEAS INVESTMENT COMPANY II
	 	 	 
	 	By:	/s/
Dimitri Elkin
	 	 	Name: Dimitri Elkin
	 	 	Title:   Chief Executive Officer

 

	 	SUBSCRIBER:
	 	 
	 	TWELVE SEAS SPONSOR II LLC
	 	 	 
	 	By:	/s/
Jonathan Morris
	 	 	Name: Jonathan Morris
	 	 	Title:   Managing Member

 

[Unit Subscription Agreement with Sponsor]

 

 

8

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