Document:

EX-10.26

 Exhibit 10.26 

 
 

 
  
 May 6, 2021 

Ellen O’Donnell 
 Dear Nell, 

On behalf of ServiceMax, Inc. (the “Company’’), it is my pleasure to offer you the position of Chief Legal Officer reporting to Neil
Barua, Chief Executive Officer. We are excited to have you join the team! Please take the time to read through the important information below. 

Position 
 This is a full-time, exempt position. By
signing this letter, you confirm with the Company that you are under no contractual or other legal obligations that would prohibit you from performing your duties with the Company. We reserve the right to change reporting structure and relationships
as needed. 
 Compensation 
 You will be paid a starting
base salary at the rate of $350,000 annually, payable in accordance with the Company’s standard payroll schedule. In addition to your base salary you will be eligible to participate in the Company’s Bonus Plan. Your target annual
incentive compensation shall be 50% of your base salary, paid in accordance with the plan terms and based on your achievement of MBO’s as detailed within the Bonus Plan as well as the Company’s achievement against its targets. You
must be an employee in good standing in order to participate in the plan. 
 Sign-On Bonus 

The Company will pay you a Sign-On Bonus in the amount of $150,000 less applicable deductions required by law,
in two installments. The first installment of $75,000 will be paid as part of your first regular pay cycle. The second installment of $75,000 will be paid in the last pay cycle of the calendar year in 2021. Should the Company terminate
your employment for Cause (as defined below) or should you choose to leave the Company for any reason without Good Reason (as defined below), in either case prior to the one-year anniversary of your start
date, you will be required to repay the Company a percentage of the Sign-on Bonus equal to the percentage of the one year service time associated with this bonus during which you were not employed. 

Profits Interest Award Grant 
 Subject to the approval of
the Company’s Board of Directors (the “Board”), you will participate in our Profits Interest Award plan and be granted an amount of Class B Units in ServiceMax JV, LP, the parent company of ServiceMax, Inc., at a baseline value
of $4,000,000.00 (Four Million Dollars). While certain aspects are summarized below, the units are governed solely by the Profits Interest Award Agreement including the associated Amended and Restated Partnership Agreement of ServiceMax JV,
LP (collectively, the “award agreement”). Your award agreement will provide the details of your grant, including the number of units and the breakdown as to the allocation of time vesting units versus 

  
 4450 Rosewood Drive,
Suite 200  |  Pleasanton, CA 94588  |  www.servicemax.com 

 

 
  
 performance vesting units. 50% of your award will be
in the form of time vesting units and 50% in the form of performance vesting units. Time vesting means that a portion of the units will vest during each interval that you remain employed at ServiceMax. The first 25% of the time-based units will vest
after the first year; then 6.25% of the remaining time-based units will vest each quarter thereafter. Performance vesting occurs if you are employed at the time of a liquidation event for the partnership that achieves certain specified returns. In
the event of a public listing, we currently expect the Profits Interest Awards would be converted into a mix of restricted stock and common stock. 

Termination by the Company without Cause or by You for Good Reason. 

If your employment is terminated by the Company without cause then subject to you signing a standard separation agreement and the release therein becoming
effective and irrevocable within 60 days after the date of termination of employment, you will receive the following under Section 1.1. through 1.3. (which such amounts shall be in lieu of, and not in addition to, any amounts that might
otherwise be payable under any severance plan or other applicable benefit plan of the Company): 
  

	 	1.1.	 Cash Severance. A lump sum cash amount equal to 100% of the sum of (a) your then- current
annual Base Salary plus (b) your annual target incentive compensation; and 

  

	 	1.2.	 COBRA Severance. A lump sum after tax cash amount equal to the product of 12 months, multiplied by the
monthly premium pursuant to COBRA, that you would be required to pay to continue the group health coverage in effect on the date of termination of employment (which amount will be based on the premium for the first month of COBRA coverage).

  

	 	1.3.	 The amounts payable under this Section less applicable deductions and withholding, shall be paid out in a
single lump sum within 60 days following the date of termination of employment, provided, however, that if the 60-day period begins in one calendar year and ends in a second calendar year, the amounts payable
under this Section shall be paid in the second calendar year. 

 Good Reason. For purposes of this Agreement, “Good
Reason” shall mean the occurrence of any of the following events, without your written consent: 
  

	 	(a)	 a material reduction of your Base Salary; 

 

	 	(b)	 a material reduction of your target cash incentive opportunity as set forth herein or as increased during the
course of your employment with the Company; 

  

	 	(c)	 a material reduction in your duties, authority, reporting relationship or responsibilities;

  

	 	(d)	 a requirement that you relocate your principal place of employment to a location more than fifty
(50) miles from your then- current office location; 

  

	 	(e)	 a material violation by the Company of a material term of any employment, severance or change of control
agreement between you and the Company; or 

  

	 	(f)	 a failure by any successor entity to the Company to assume this Agreement. 

A termination by you for Good Reason will not be deemed to have occurred unless you give the Company written notice of the condition within ninety
(90) days after the condition comes into existence, the Company fails to remedy the condition within thirty (30) days after receiving the written notice (the “Cure Period”), and you terminate your employment with the Company
within thirty (30) days following the expiration of the Cure Period. 

  
 4450 Rosewood Drive,
Suite 200  |  Pleasanton, CA 94588  |  www.servicemax.com 

 

 
  
 Cause. For purposes of this Agreement,
“Cause” shall mean: 
  

	 	(a)	 gross negligence in the performance of any material duties and responsibilities which remains uncured after
reasonable written notice and reasonable opportunity to cure; 

  

	 	(a)	 fraud or material misconduct with respect to the business affairs of the Company; or 

 

	 	(b)	 conviction of any crime involving moral turpitude which is demonstrably and materially injurious to the
Company. 

 Benefits 
 You will be
eligible to participate in the company’s health benefits plan upon acceptance by our provider. The Company may modify compensation and benefits at any time. 

At-Will Employment Relationship 

Employment with the Company is for no specific period of time. Your employment with the Company will be “at will,” meaning that either you or the
Company may terminate your employment at any time and for any reason, with or without cause and with or without prior notice, subject to the terms of the paragraphs entitled, ‘‘Termination by the Company without Cause or by You for Good
Reason” and “Sign-On Bonus” above. Any contrary representations which may have been made to you are superseded by this offer. This is the full and complete agreement between you and the Company on this term. Although your job duties,
title, compensation and benefits, as well as the Company’s personnel policies and procedures, may change from time to time, the “at will” nature of your employment may only be changed in an express written agreement signed by you and
the Company. 
 Outside Activities 
 While you render
services to the Company, you agree that you will not engage in any other employment, consulting or other business activity without the written consent of the Company. In addition, while you render services to the company, you will not assist any
person or entity in competing with the Company, in preparing to compete with the Company or in hiring any employees or consultants of the Company. 
 The
Company acknowledges your membership of the board of directors of Carney Technology Acquisition Corp. II (Nasdaq: CTAQU) and your potential membership of the board of directors of the non-profit corporation,
Alluma, and consents to your participation in such outside activities. 
 Withholding Taxes 

All forms of compensation referred to in this letter are subject to applicable withholding and payroll taxes. 

Proprietary Information and Inventions Agreement 
 As a
condition of your employment with the Company, you will be required to sign the Company’s Confidential Information, Intellectual Property, and Invention Assignment Agreement enclosed as Attachment A. 

  
 4450 Rosewood Drive,
Suite 200  |  Pleasanton, CA 94588  |  www.servicemax.com 

 

 
  
 Proprietary Information: 

In your work for the Company, you will be expected not to use or disclose any confidential information, including trade secrets, of any former employer or
other person to whom you have an obligation of confidentiality. You agree that you will not bring onto Company premises any unpublished documents or property belonging to any former employer or other person to whom you have an obligation of
confidentiality. You hereby represent that you have disclosed to the Company any conflicts of Interest or contract you have signed that may restrict your employment eligibility or activities on behalf of the Company. Further, you agree to protect
against unauthorized disclosure of confidential information and to return any confidential information and other Company property when your employment ends. 

Moreover, you agree that, during the term of your employment with the Company, you will not engage in any other employment, occupation, consulting, or other
business activity directly related to the business in which the Company is now involved or becomes involved during the term of your employment, nor will you engage in any other activities that conflict with your obligations to the Company. 

Additional Terms 
 In addition to this letter, your offer
of employment is conditioned upon your: 
  

	 	•	 	 Providing proof of eligibility to work in the United States; 

 

	 	•	 	 Completion of an Employment Application; 

 

	 	•	 	 Successful completion of education and employment verification. 

For purposes of federal immigration law, you will be required to provide the Company documentary evidence of your identity and eligibility for employment in
the United States. Such documentation must be provided to us within three (3) business days of your date of hire or our employment relationship with you may be terminated. 

Entire Agreement 
 This offer is contingent upon the
satisfactory outcome of the pre-employment reference checks. This letter supersedes and replaces any prior understandings or agreements, whether oral, written or implied, between you and the Company regarding
the matters described in this letter. 

  
 4450 Rosewood Drive,
Suite 200  |  Pleasanton, CA 94588  |  www.servicemax.com 

 

 
  
 If you wish to accept this offer, please sign and
date the enclosed duplicate original of this letter and the Confidential Information, Intellectual Property, and Invention Assignment Agreement and return them to me. 

This offer, if not accepted, will expire at noon on in 4 business days. We look forward to having you join us no later than May 10th, 2021. 

 

	
	Very truly yours,
	
	SERVICEMAX, INC.
	
	 /s/ Sonya Hanson

	Sonya Hanson, VP, Human Resources
	
	I have read and accept this employment offer.
	
	 /s/ Ellen O’Donnell

	Ellen O’Donnell
	
	 5/7/2021

	Dated Executed

 Attachment A: Confidential Information, Intellectual Property, and Invention Assignment Agreement 

  
 4450 Rosewood Drive,
Suite 200  |  Pleasanton, CA 94588  |  www.servicemax.com 

 

 
  
 Attachment A 

CONFIDENTIAL INFORMATION, INTELLECTUAL PROPERTY, AND INVENTION ASSIGNMENT AGREEMENT (“AGREEMENT”) 

As a condition of my employment with ServiceMax, Inc. a Delaware corporation, its subsidiaries, affiliates, successors or assigns (together, the
“Company”). (“Company’’), I agree as follows: 
  

	1.	 Protection of Confidential Information. 

A. Definition of Confidential Information. In the course of my Company employment, I will learn of or have disclosed to me various
“Confidential Information”. In understand that Confidential lnformation1 means information (including any and all combinations of individual items of information) that the Company
has or will develop, acquire, create, compile, discover or own, that has value in or to the Company’s business which is not generally known and which the Company wishes to maintain as confidential and includes any information designated or
labeled as ‘confidential’ or ‘proprietary’ or which is of the type one would reasonably expect a business to maintain in confidence. Confidential Information includes both information disclosed by the Company to me, and
information developed or learned by me during the course of my employment with Company. Confidential Information also includes all information of which the unauthorized disclosure could be detrimental to the interests of Company, whether or not such
information is identified as Company Confidential Information. Notwithstanding the foregoing, Confidential Information shall not include any such information which I can establish (i) was publicly known or made generally available prior to the
time of disclosure by Company to me; (ii) becomes publicly known or made generally available after disclosure by Company to me through no wrongful action or omission by me; (iii) is in my rightful possession, without confidentiality
obligations, at the time of disclosure by Company as shown by my then-contemporaneous written records; or (iv) is not otherwise protected by applicable law; provided that any combination of individual items of information shall not be deemed to
be within any of the foregoing exceptions merely because one or more of the individual items are within such exception, unless the combination as a whole is within such exception. I understand that nothing in this Agreement is intended to limit
employees’ rights to discuss the terms, wages, and working conditions of their employment, as protected by applicable law. 
  

	 	1.1	 Confidentiality Obligations. I agree that during and after the term of my employment, I will hold in the
strictest of confidence, and take all reasonable precautions to prevent any unauthorized use or disclosure of Confidential Information to any “unauthorized 

 

	1 	 Confidential Information sometimes referred to as “Company Confidential Information” includes, for
example, technical information such as know-how, formulae, computer software, logic design, schematics, and manufacturing processes; business information such as information about costs, prices, profits,
markets, sales, customers, and vendors; personnel information such as evaluations, salary and compensation data, and private phone numbers; and information relating to innovative activities, such as inventions, research projects, plans for future
development, and patent strategy. Confidential Information includes confidential or proprietary information of a third party to which Company owes a duty of confidentiality or non-use and may also include Work
Product (as defined below). Although certain information or technology may be generally known in the relevant industry, the fact that Company uses it, and how Company uses it, may not be known, and is therefore Confidential Information.

  
 4450 Rosewood Drive,
Suite 200  |  Pleasanton, CA 94588  |  www.servicemax.com 

 

 
  
 persons“2 or use for any “unauthorized purposes“3 any Confidential Information which I learn or receive in connection with my employment without
the written consent of an officer of Company. I further agree that I will not use the Company Confidential Information for any purpose whatsoever other than for the benefit of the Company in the course of my employment. These duties do not apply to
Confidential Information which is or becomes publicly known through no action or fault of my own or to Confidential Information which is subsequently rightfully disclosed to me by a third party without duties of confidentiality and restricted use. I
understand that my obligations under this Section shall continue after the end of my employment. 
  

	 	1.2	 Consultation. If I am in doubt as to whether certain information is Confidential Information, or whether
Confidential Information has become public knowledge, I agree to consult with the management of Company prior to disclosing or using the information. 

  

	2.	 No Conflicting Obligations. 

 

	 	2.1	 Conflict of Interest. In order to avoid conflicts of interest and inadvertent disclosure or improper use
of Confidential Information, and to ensure that I devote my professional energies to Company, I agree that while I am employed by Company I will not accept or engage in any professional employment, consulting or other relationship with any business
without first giving written notice to, and receiving written approval from, the CEO or Chief Financial Officer. While Company’s policy is to consider such approval requests on a
case-by-case basis, Company typically approves such requests as to non-exempt employees so long as the other business is not a Company competitor or a major Company
supplier or customer. 

  

	 	2.2	 No Breach of Other Obligations. I represent that my performance of my duties for Company will not breach
any non-compete, invention assignment, or proprietary or confidential information agreement with any former employer or other party or create any conflict of interest with anyone. Former Employer
Confidential Information. I agree that during my employment with the Company, I will not improperly use, disclose, or induce the Company to use any proprietary information or trade secrets of any former employer or other person or entity with
which I have an obligation to keep in confidence. I further agree that I will not bring onto the Company’s premises or transfer onto the Company’s technology systems any unpublished document, proprietary information, or trade secrets
belonging to any such third party unless disclosure to, and use by, the Company has been consented to in writing by such third party. I have returned all property and confidential information belonging to all prior employers. I also agree that I

  

	2	 “Unauthorized persons” are those people who either (1) do not have a need to know the information to
further a Company-authorized purpose or (2) do have such a need but are not obligated both to maintain such information in confidence and to use such information only for a Company-authorized purpose. 

	3 	 An “unauthorized purpose” means a purpose that does not further the interests of Company or that is
not otherwise approved in writing by a Company officer. 

  
 4450 Rosewood Drive,
Suite 200  |  Pleasanton, CA 94588  |  www.servicemax.com 

 

 
  

	 	will not disclose to Company, or use for Company’s benefit, any confidential information or material in violation of the rights of my former employers or any third parties. 

 

	 	2.3	 Third Party Information. I recognize that the Company has received and in the future will receive from
third parties associated with the Company, e.g., the Company’s customers, consultants, suppliers, licensors, licensees, partners, or collaborators (“Associated Third Parties”), their confidential or proprietary information
(“Associated Third Party Confidential Information”) subject to a duty on the Company’s part to maintain the confidentiality of such Associated Third Party Confidential Information and to use it only for certain limited
purposes. By way of example, Associated Third Party Confidential Information may include the habits or practices of Associated Third Parties, the technology of Associated Third Parties, requirements of Associated Third Parties, and information
related to the business conducted between the Company and such Associated Third Parties. I agree at all times during my employment with the Company and thereafter, that I owe the Company and its Associated Third Parties a duty to hold all such
Associated Third Party Confidential Information in the strictest confidence, and not to use it or to disclose it to any person, firm, corporation, or other third party except as necessary in carrying out my work for the Company consistent with the
Company’s agreement with such Associated Third Parties. I further agree to comply with any and all Company policies and guidelines that may be adopted from time to time regarding Associated Third Parties and Associated Third Party Confidential
Information. I understand that my unauthorized use or disclosure of Associated Third Party Confidential Information or violation of any Company policies during my employment may lead to disciplinary action, up to and including immediate termination
and legal action by the Company. 

 3. Disclosure and Assignment to Company of Work Product. 

 

	 	3.1	 Ownership of Work Product. I agree that Company and its assigns will be the exclusive owner of Work
Product4 and all patents, trademarks, copyrights, mask works, moral rights and other statutory or common law protections in any and all countries (“IP Rights”) covering or
otherwise associated with my Work Product. In addition, to the extent Company has not obtained exclusive ownership due to my Company employment, I agree to, and do hereby, assign to the Company and waive any and all IP Rights in my Work Product
without further compensation or consideration. 

  

	 	3.2	 Excluded Inventions. However, as provided by California Labor Code § 2870, Section 4.1 does
not apply to any invention that I develop entirely on my own time and to which all of the following apply: (i) no equipment, supplies, facilities or trade secret information of 

 

	4	 “Work Product” means any and all tangible materials and all ideas, inventions, improvements,
discoveries, know-how, techniques and works of authorship (including but not limited to computer programs, software, logic design and documentation) and other information and materials, whether or not patentable, copyrightable or otherwise
registrable under applicable statutes, that I may make, conceive, reduce to practice, develop, learn or work on, either alone or jointly with others, whether or not reduced to drawings, written description, documentation, models or other tangible
form that I develop a) using the Company’s equipment, supplies or trade secrets; b) resulting from work I perform for the Company; and/or c) relate to the Company’s current or anticipated research and development will be Company’s
sole and exclusive property. 

  
 4450 Rosewood Drive,
Suite 200  |  Pleasanton, CA 94588  |  www.servicemax.com 

 

 
  
 Company are used, (ii) it is not
related to Company’s business or Company’s actual or demonstrably anticipated research and development, and (iii) it does not result from any work performed by me for Company. 

In addition, Section 3.1 does not apply to any inventions which I made or conceived or first reduced to practice alone or jointly with others prior to my
engagement by Company. I represent that Exhibit A is a complete list of my pre-employment inventions that I desire to have specifically excluded from my obligations under this Section. If no such list is
attached to this Agreement, I represent that I have made no such inventions as of the effective date of this Agreement. 
 I agree to promptly make full
written disclosure to the Company of any such Inventions, and to deliver and assign and hereby irrevocably assign fully to the Company all of my right, title and interest in and to such Inventions. I further agree to promptly disclose to the
President of the Company any such Invention that I believe is to be excluded by Labor Code Section 2870 as provided in herein and Exhibit A so the Company can make an independent assessment. I agree that this assignment includes a present
conveyance to the Company of ownership of Inventions that are not yet in existence. I further acknowledge that all original works of authorship that are made by me (solely or jointly with others) within the scope of and during the period of my
employment with the Company and that are protectable by copyright are “works made for hire,” as that term is defined in the United States Copyright Act. I understand and agree that the decision whether or not to commercialize or market any
Inventions is within the Company’s sole discretion and for the Company’s sole benefit, and that no royalty or other consideration will be due to me as a result of the Company’s efforts to commercialize or market any such Inventions.

 All of these Section 4.2 inventions are referred to as “Excluded Inventions.” 

 

	 	3.3	 Certain Rights of Company In Excluded Inventions. If I incorporate any Excluded Invention into any
Company product or service or otherwise use an Excluded Invention for Company’s benefit as part of my Company employment activities, Company is hereby granted and shall have a fully paid, nonexclusive, royalty-free, irrevocable, perpetual,
worldwide, transferable and sublicensable license to make, have made, modify, create derivative works, reproduce, use, offer to sell, sell, import and distribute such Excluded Invention (as may be improved or enhanced by or for Company) and any
Company product or Company service incorporating such Excluded Invention. 

  

	 	3.4	 Maintenance and Return of Records. I agree to keep, and make available to Company on demand, adequate
and current written records of all my Work Product. I agree that these records, and all other information and documents coming into my possession or kept by me in connection with my employment, are the sole property of Company. I agree to return to
all originals and copies of all such documents to Company promptly upon termination of my employment. 

  

	 	3.5	 Disclosure of Work Product. I will promptly disclose to Company all Work Product other than Excluded
Inventions. In addition, I agree that, if requested by Company, I will disclose in confidence any inventions that I consider to be Excluded Inventions so that the ownership of such inventions can be established. 

  
 4450 Rosewood Drive,
Suite 200  |  Pleasanton, CA 94588  |  www.servicemax.com 

 

 
  

	 	3.6	 Exception to Assignments. I UNDERSTAND THAT THE PROVISIONS OF THIS AGREEMENT REQUIRING ASSIGNMENT OF
INVENTIONS TO THE COMPANY DO NOT APPLY TO ANY INVENTION THAT QUALIFIES FULLY UNDER THE PROVISIONS OF CALIFORNIA LABOR CODE SECTION 2870 (INCORPORATED WITH EXHIBIT A). I WILL ADVISE THE COMPANY PROMPTLY IN WRITING OF ANY INVENTIONS THAT I
BELIEVE MEET THE CRITERIA IN CALIFORNIA LABOR CODE SECTION 2870 AND ARE NOT OTHERWISE DISCLOSED ON EXHIBIT A 

  

	 	3.7	 Protection of Rights in Work Product. I will assist Company in every reasonable way (such as by signing
documents and giving evidence and testimony) to establish Company’s ownership of and other rights in all Work Product and related IP Rights (other than Excluded Inventions) in any and all countries. If I am unavailable for any reason, I hereby
appoint Company, as my agent and attorneys-in-fact to execute and file any document(s) and to do all other acts to further the prosecution, issuance, enforcement and
maintenance of IP Rights in the Work Product other than Excluded Inventions. My obligations under this Section will extend beyond the termination of my employment provided that Company will compensate me at a reasonable rate after such termination
for time or expenses actually spent by me at Company’s request. 

 4. Return of Company Materials. 

Upon separation from employment with the Company, on Company’s earlier request during my employment, or at any time subsequent to my
employment upon demand from the Company, I will immediately deliver to the Company, and will not keep in my possession, recreate, or deliver to anyone else, any and all Company property, including, but not limited to, Company Confidential
Information, Associated Third Party Confidential Information, all devices and equipment belonging to the Company (including keys, computers, handheld electronic devices, telephone equipment, and other electronic devices), all electronically stored
information and passwords to access such property, Company credit cards, records, data, notes, notebooks, reports, files, proposals, lists, correspondence, specifications, drawings, blueprints, sketches, materials, photographs, charts, any other
documents and property, and reproductions of any of the foregoing items, including, without limitation, those records maintained pursuant to this Agreement. I also consent to an exit interview to confirm my compliance with this Agreement. 

5. Solicitation of Employees. 
  

	 	5.1	 Non-Solicitation. I agree that for twelve (12) months from
this date, I will not directly or indirectly solicit any of the Company’s employees to leave their employment at the Company. I agree that nothing in this paragraph shall affect my continuing obligations under the Confidential Information,
Invention Assignment, and Arbitration Agreement during and after this twelve (12) month period, including, without limitation, my obligations herein. The foregoing restriction on solicitation shall not apply to any general solicitations for
employment, such as any Internet help wanted advertisement, or any search firm engagement, in each case which is not directed at or focused on any of the Company’s employees. 

  
 4450 Rosewood Drive,
Suite 200  |  Pleasanton, CA 94588  |  www.servicemax.com 

 

 
  

	 	5.2	 6.2 Liquidated Damages. THE PARTIES AGREE THAT THE PRECISE AMOUNT OF DAMAGES FLOWING FROM ANY DISCLOSURE
IN VIOLATION OF THE NONSOLICITATION PROVISION SET FORTH IN SECTION 18.1 WOULD BE IMPRACTICABLE OR EXTREMELY DIFFICULT TO CALCULATE OR PROVE, AND THEREFORE, EMPLOYEE AGREES THAT IF HE BREACHES SUCH PROVISIONS BY SOLICITING ANY OF EMPLOYER’S
EMPLOYEES TO LEAVE THEIR EMPLOYMENT WITH EMPLOYER, THEN EMPLOYER SHALL BE ENTITLED TO RECEIVE FROM EMPLOYEE AS LIQUIDATED DAMAGES THE SUM OF TWENTY-FIVE THOUSAND DOLLARS ($25,000.00) PER PROVEN BREACH. 

6. Notification of New Employer. 
 If I
leave Company for any reason, I consent to Company notifying my new employer of my rights and obligations under this Agreement. 
 7. Audit. 

I acknowledge that I have no reasonable expectation of privacy in any computer, technology system, email, handheld device, telephone,
voicemail, or documents that are used to conduct the business of the Company. All information, data, and messages created, received, sent, or stored in these systems are, at all times, the property of the Company. As such, the Company has the right
to audit and search all such items and systems, without further notice to me, to ensure that the Company is licensed to use the software on the Company’s devices in compliance with the Company’s software licensing policies, to ensure
compliance with the Company’s policies, and for any other business-related purposes in the Company’s sole discretion. I understand that I am not permitted to add any unlicensed, unauthorized, or
non-compliant applications to the Company’s technology systems, including, without limitation, open source or free software not authorized by the Company, and that I shall refrain from copying unlicensed
software onto the Company’s technology systems or using non-licensed software or websites. I understand that it is my responsibility to comply with the Company’s policies governing use of the
Company’s documents and the internet, email, telephone, and technology systems to which I will have access in connection with my employment. 

I am aware that the Company has or may acquire software and systems that are capable of monitoring and recording all network traffic to and
from any computer I may use. The Company reserves the right to access, review, copy, and delete any of the information, data, or messages accessed through these systems with or without notice to me and/or in my absence. This includes, but is not
limited to, all e-mail messages sent or received, all website visits, all chat sessions, all news group activity (including groups visited, messages read, and postings by me), and all file transfers into and
out of the Company’s internal networks. The Company further reserves the right to retrieve previously deleted messages from e-mail or voicemail and monitor usage of the Internet, including websites
visited and any information I have downloaded. In addition, the Company may review Internet and technology systems activity and analyze usage patterns, and may choose to publicize this data to assure that technology systems are devoted to legitimate
business purposes. 
 8. Defense of Trade Secrets Act Whistleblower Immunity 

An individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret
that is made in confidence to a Federal, State, or local government official or to an attorney solely for the purpose of reporting or investigating a suspected violation of law. An individual shall not be held criminally or civilly liable under any
Federal or State trade secret law for the disclosure of a trade secret that is made in a complaint or other document 

  
 4450 Rosewood Drive,
Suite 200  |  Pleasanton, CA 94588  |  www.servicemax.com 

 

 
  

	 	filed in a lawsuit or other proceeding, if such filing is made under seal. An individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the
attorney of the individual and use the trade secret information in the court proceeding, if the individual files any document containing the trade secret under seal; and does not disclose the trade secret, except pursuant to court order.

  

	9.	 Miscellaneous Clauses. 

This Agreement constitutes the entire agreement, and supersedes all previous or contemporaneous agreements or representations, whether oral or
written, express or implied, between Company and me with regard to its subject matter. This Agreement cannot be modified or waived unless in writing, signed by me and either the CEO or Chief Financial Officer. 

The invalidity or unenforceability of any provision(s) of this Agreement under particular facts and circumstances shall not affect the
validity or enforceability either of other provisions of this Agreement or, under other facts and circumstances, of such provision(s). 

This Agreement is governed by and construed in accordance with the laws of the State of California for contracts entered into in California
between California residents. 
 This Agreement is binding upon my heirs, executors, administrators, or personal representatives and inures
to the benefit of successors and assigns of Company. If a subsidiary or parent of Company or another entity affiliated with Company should employ me, then during the term of such employment, the term “Company” shall refer to such employer.

 Any dispute arising under or relating to this Agreement shall be litigated exclusively in Federal or California courts located in Santa
Clara County, California and the Company and I hereby consent and submit to the jurisdiction and venue of such courts. 
 I certify and
acknowledge that I have carefully read all of the provisions of this Agreement and that I understand and will fully and faithfully comply with such provisions. I UNDERSTAND THAT THIS AGREEMENT IS EFFECTIVE AS OF THE DATE MY EMPLOYMENT WITH COMPANY
COMMENCED OR WILL COMMENCE. 
  

			
	EMPLOYEE:	 	ACCEPTED AND AGREED TO BY:
		
	 /s/ Ellen O’Donnell
	 	 /s/ Sonya Hanson

	Ellen O’Donnell	 	Sonya Hanson, VP, Human Resources
		 	ServiceMax, Inc.

  
 4450 Rosewood Drive,
Suite 200  |  Pleasanton, CA 94588  |  www.servicemax.com 

 

 
  

			
	Address	  	5/7/2021
		  	  

	  
	  	Date Executed
	  
	  	
	  
 5/7/2021
	  	
	  
 Date Executed
	  	

  
 4450 Rosewood Drive,
Suite 200  |  Pleasanton, CA 94588  |  www.servicemax.com 

 

 
  
 EXHIBIT A 

LIST OF PRE-EMPLOYMENT INVENTIONS 

This List of Pre-Employment Inventions, along with any attached pages, is part of and incorporated by reference into
the attached Confidential Information, Intellectual Property, and Invention Assignment Agreement. 
 CALIFORNIA LABOR CODE SECTION 2870—INVENTIONS
EXEMPT FROM AGREEMENT 
 “(a) Any provision in an employment agreement which provides that an employee shall assign, or offer to assign, any of his
or her rights in an invention to his or her employer shall not apply to an invention that the employee developed entirely on his or her own time without using the employer’s equipment, supplies, facilities, or trade secret information except
for those inventions that either: 
 (1) Relate at the time of conception or reduction to practice of the invention to the employer’s
business, or actual or demonstrably anticipated research or development of the employer; or 
 (2) Result from any work performed by the
employee for the employer. 
 (b) To the extent a provision in an employment agreement purports to require an employee to assign an invention otherwise
excluded from being required to be assigned under subdivision (a), the provision is against the public policy of this state and is unenforceable.” 

INSTRUCTIONS TO EMPLOYEE: Please identify in the DOCUMENT CHART below preexisting documents which describe, and upon which you will rely to establish your
ownership of, your pre-employment inventions. Please do not disclose to Company your pre-employment inventions in detail unless Company expressly requests that
you do. 
 In filling out the DOCUMENT CHART, please note that witnesses are people who have read and understood the referenced document and who therefore
can testify to the existence of the inventions, ideas or works of authorship. Also, inventions, ideas, or works of authorship not owned by you (for example because they have been assigned to a prior employer) are not to be listed here. If any
documents are identified below, then Company may request you to provide the documents and other information to determine if any impediments to employment by Company exist. 

  
 4450 Rosewood Drive,
Suite 200  |  Pleasanton, CA 94588  |  www.servicemax.com 

 

 
  
 DOCUMENT CHART 

 

									
	 No. Of Document
	 	 Title Of Document
	 	 Date On

Document
	 	 Names of Witnesses

Signing The Document
	 	 No. Of Pages Of

The Document

	1	 	n/a	 	n/a	 	n/a	 	n/a
	2	 	n/a	 	n/a	 	n/a	 	n/a
	3	 	n/a	 	n/a	 	n/a	 	n/a
	4	 	n/a	 	n/a	 	n/a	 	n/a
	5	 	n/a	 	n/a	 	n/	 	n/a

  

	
	 /s/ Ellen O’Donnell

	Ellen O’Donnell
	
	5/7/2021
	  
 Date Executed

  
 4450 Rosewood Drive,
Suite 200  |  Pleasanton, CA 94588  |  www.servicemax.comEX-4.1

 Exhibit 4.1 

WARRANT AGREEMENT 

between 
 BLACK MOUNTAIN
ACQUISITION CORP. 
 and 

CONTINENTAL STOCK TRANSFER & TRUST COMPANY 

Dated as of October 13, 2021 

This WARRANT AGREEMENT (this “Agreement”), dated as of October 13, 2021 is by and between Black Mountain
Acquisition Corp., a Delaware corporation (the “Company”), and Continental Stock Transfer & Trust Company, a New York corporation, as warrant agent (the “Warrant Agent,” also referred to
herein as the “Transfer Agent”). 
 WHEREAS, on October 13, 2021, the Company entered into that certain
Private Placement Warrants Purchase Agreement with Black Mountain Sponsor LLC, a Delaware limited liability company (the “Sponsor”), pursuant to which the Sponsor will purchase an aggregate of 11,600,000 warrants (or up to
13,040,000 warrants if the Over-allotment Option (as defined below) in connection with the Offering (as defined below) is exercised in full) simultaneously with the closing of the Offering (and the closing of
the Over-allotment Option, if applicable) (the “Private Placement Warrants”) at a purchase price of $1.00 per Private Placement Warrant; 

WHEREAS, in order to finance the Company’s transaction costs in connection with an intended initial Business Combination (as
defined below), the Sponsor or an affiliate of the Sponsor or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as the Company may require, of which up to $1,500,000 may be convertible into up
to an additional 1,500,000 Private Placement Warrants at a price of $1.00 per Private Placement Warrant; 
 WHEREAS, the Company is
engaged in an initial public offering (the “Offering”) of units of the Company’s equity securities, each such unit comprised of one share of Common Stock (as defined below) and three quarters of one Warrant (as defined
below) (the “Units”) and, in connection therewith, has determined to issue and deliver up to 18,000,000 warrants (including up to 20,700,000 warrants subject to the Over-allotment Option) to public investors in the Offering
(the “Public Warrants” and, together with the Private Placement Warrants, the “Warrants”). Each whole Warrant entitles the holder thereof to purchase one whole share of Class A common stock of the
Company, par value $0.0001 per share (“Common Stock”), for $11.50 per share, subject to adjustment as described herein; 

WHEREAS, the Company has filed with the U.S. Securities and Exchange Commission (the “Commission”) a
registration statement on Form S-1 (File No. 333-259469) (the “Registration Statement”) and prospectus
(the “Prospectus”), for the registration, under the Securities Act of 1933, as amended (the “Securities Act”), of the Units, the Public Warrants, the Common Stock included in the Units and the
Common Stock underlying the Public Warrants included in the Units; 
 WHEREAS, the Company desires the Warrant Agent to act on behalf
of the Company, and the Warrant Agent is willing to so act, in connection with the issuance, registration (with respect to the Public Warrants), transfer, exchange, redemption and exercise of the Warrants; 

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

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

 NOW, THEREFORE, in consideration of the mutual agreements herein contained, the
parties hereto agree as follows: 
 1. Appointment of Warrant Agent. The Company hereby appoints the Warrant Agent to act as
agent for the Company for the Warrants, and the Warrant Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions set forth in this Agreement. 

2. Warrants. 
 2.1
Form of Warrant. Each Warrant shall be issued in registered form only. 
 2.2 Effect of Countersignature. If a physical
certificate is issued, unless and until countersigned by the Warrant Agent pursuant to this Agreement, a certificated Warrant shall be invalid and of no effect and may not be exercised by the holder thereof. 

2.3 Registration. 
 2.3.1
Warrant Register. The Warrant Agent shall maintain books (the “Warrant Register”), for the registration of the initial issuance of the Warrants and the registration of transfer of the Warrants. Upon the initial
issuance of the Warrants in book-entry form, the Warrant Agent shall issue and register the Warrants in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions delivered to the Warrant Agent by
the Company. Ownership of beneficial interests in the Public Warrants shall be shown on, and the transfer of such ownership shall be effected through, records maintained by institutions that have accounts with The Depository Trust Company (the
“Depository”) (such institution, with respect to a Warrant in its account, a “Participant”). If the Depository subsequently ceases to make its book-entry settlement system available for the Public
Warrants, the Company may instruct the Warrant Agent regarding making other arrangements for book-entry settlement. In the event that the Public Warrants are not eligible for, or it is no longer necessary to have the Public Warrants available in,
book-entry form, the Warrant Agent shall provide written instructions to the Depository to deliver to the Warrant Agent for cancellation each book-entry Public Warrant, and the Company shall instruct the Warrant Agent to deliver to the Depository
definitive certificates in physical form evidencing such Warrants, which shall be in the form attached hereto as Exhibit A. 

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

2.3.2 Registered Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent may
deem and treat the person in whose name such Warrant is registered in the Warrant Register (the “Registered Holder”) as the absolute owner of such Warrant and of each Warrant represented thereby (notwithstanding any notation
of ownership or other writing on any physical certificate made by anyone other than the Company or the Warrant Agent), for the purpose of any exercise thereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be
affected by any notice to the contrary. 
 2.4 Detachability of Warrants. The Common Stock and Public Warrants comprising the Units
shall begin separate trading on the ninetieth (90th) day following the date of the Prospectus or, if such ninetieth (90th) day is not on a day, other than a Saturday, Sunday or federal holiday, on which banks in New York City are generally open for
normal business (a “Business Day”), then on the immediately succeeding Business Day following such date, or earlier (the “Detachment Date”) with the consent of EarlyBirdCapital, Inc. and Stephens Inc.,
as representatives of the several underwriters, but in no event shall the Common Stock and the Public Warrants comprising the Units be separately traded until (i) the Company has filed (A) a Current Report on Form 8-K with the Commission containing an audited balance sheet reflecting the receipt by the Company of the gross proceeds of the Offering, including the proceeds received by the Company from the exercise by the
underwriters of their right to purchase additional Units in the Offering (the “Over-allotment Option”) if the Over-allotment Option is exercised or waived prior to the filing of the Current Report on Form 8-K, and (B) if the Over-allotment Option is exercised following the initial filing of such Current Report on Form 8-K, a second or amended Current Report on Form 8-K containing the audited balance sheet reflecting the receipt by the company of the gross proceeds of the offering, including the proceeds received by the Company from the exercise of the Over-allotment Option,
and (ii) the Company issues a press release and files with the Commission a Current Report on Form 8-K announcing when such separate trading shall begin. 

  
 2 

 2.5 No Fractional Warrants Other Than as Part of Units. The Company shall not issue
fractional Warrants other than as part of Units, each of which is comprised of one share of Common Stock and three quarters of one Public Warrant. If, upon the detachment of Public Warrants from Units or otherwise, a holder of Warrants would be
entitled to receive a fractional Warrant, the Company shall round down, to the nearest whole number, the number of Warrants to be issued to such holder upon detachment. 

2.6 Private Placement Warrants. The Private Placement Warrants shall be identical to the Public Warrants, except the Private Placement
Warrants shall bear the restrictive legend set forth in Exhibit B hereto. 
 3. Terms and Exercise of Warrants. 

3.1 Warrant Price. Each whole Warrant shall, when countersigned by the Warrant Agent, entitle the Registered Holder thereof, subject to
the provisions of such Warrant and of this Agreement, to purchase from the Company the number of shares of Common Stock stated therein, at the price of $11.50 per share, subject to Section 7.4.2 and the adjustments provided
in Section 4 and the last sentence of this Section 3.1. The term “Warrant Price” as used in this Agreement shall mean the price per share at which shares of Common Stock may
be purchased at the time a Warrant is exercised. The Company in its sole discretion may lower the Warrant Price at any time prior to the Expiration Date (as defined below) for a period of not less than twenty (20) Business Days; provided, that
the Company shall provide at least twenty (20) days prior written notice of such reduction to Registered Holders of the Warrants; provided, further, that any such reduction shall be identical among all of the Warrants. 

3.2 Duration of Warrants. A Warrant may be exercised only during the period (the “Exercise Period”) commencing
on the date that is thirty (30) days after the first date on which the Company completes a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination, involving the Company and one or more
businesses or entities (a “Business Combination”), and terminating at the earlier to occur of: (a) 5:00 p.m., New York City time on the date that is five (5) years after the date on which the Company completes its
initial Business Combination, (b) the liquidation of the Company (the “Expiration Date”) or (c) 5:00 p.m., New York City time on the Redemption Date (as defined below) as provided in
Section 6.3; provided, however, that the exercise of any Warrant shall be subject to the satisfaction of any applicable conditions, as set forth in Section 3.3.2 with respect to an effective
registration statement. Except with respect to rights under Section 7.4, if any, and the right to receive the Redemption Price (as defined below) in Section 6.2, each Warrant not exercised on or
before the Expiration Date shall become null and void, and all rights thereunder and all rights in respect thereof under this Agreement shall cease at 5:00 p.m., New York City time on the Expiration Date. The Company in its sole discretion may
extend the duration of the Warrants by delaying the Expiration Date; provided, that the Company shall provide at least twenty (20) days prior written notice of any such extension to Registered Holders of the Warrants; provided, further, that
any such extension shall be identical in duration among all the Warrants. 
 3.3 Exercise of Warrants. 

3.3.1 Payment. Subject to the provisions of the Warrant and this Agreement, a Warrant, when countersigned by the Warrant Agent, may be
exercised by the Registered Holder thereof (a) by surrendering such Warrant, at the office of the Warrant Agent (or of its successor as Warrant Agent) as set forth in or otherwise specified in accordance with
Section 9.2, with the subscription form, as set forth in such Warrant, duly executed, and (b) by paying in full, together with any and all applicable taxes due in connection with the exercise of such Warrant, the
exchange of such Warrant for the shares of Common Stock and the issuance of such Common Stock: 
 (i) the Warrant Price for each full share
of Common Stock as to which such Warrant is exercised, if such exercise is a cash exercise of such Warrant, which Warrant Price shall be paid in lawful money of the United States, in good certified check or good bank draft payable to the Warrant
Agent; or 
 (ii) the Cashless Exercise Price (as defined below) as provided in Section 7.4.2, if such exercise is
a “cashless exercise” of such Warrant pursuant Section 7.4.2. 

  
 3 

 3.3.2 Issuance of Shares of Common Stock on Exercise. As soon as practicable after
the exercise of any Warrant and the clearance of the funds in payment of the Warrant Price (if payment is pursuant to Section 3.3.1(a)), the Company shall issue to the Registered Holder of such Warrant a book-entry position or certificate, as
applicable, for the number of full shares of Common Stock to which such Registered Holder is entitled, registered in such name or names as may be directed by such Registered Holder, and if such Warrant shall not have been exercised in full, a new
book-entry position or countersigned Warrant, as applicable, for the number of shares of Common Stock as to which such Warrant shall not have been exercised. Notwithstanding the foregoing, the Company shall not be obligated to deliver any shares of
Common Stock pursuant to the exercise of a Warrant and shall have no obligation to settle such Warrant exercise unless a registration statement under the Securities Act with respect to the shares of Common Stock underlying the Warrants is then
effective and a prospectus relating thereto is current or a valid exemption from registration is available. No Warrant shall be exercisable and the Company shall not be obligated to issue shares of Common Stock upon exercise of a Warrant unless the
Common Stock issuable upon such Warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the state of residence of the Registered Holder of the Warrants. In the event that the conditions in the two
immediately preceding sentences are not satisfied with respect to a Warrant, the holder of such Warrant shall not be entitled to exercise such Warrant and such Warrant may have no value and expire worthless, in which case the purchaser of a Unit
containing such Warrants shall have paid the full purchase price for the Unit solely for the shares of Common Stock underlying such Unit. In no event will the Company be required to net cash settle the Warrant exercise. The Company may require
holders of Warrants to settle the Warrant on a “cashless basis” pursuant to Section 7.4. If, by reason of any exercise of Warrants on a “cashless basis,” the holder of any Warrant would be entitled, upon
the exercise of such Warrant, to receive a fractional interest in a share of Common Stock, the Company shall round down, to the nearest whole number, the number of shares of Common Stock to be issued to such holder upon exercise. 

3.3.3 Valid Issuance. All shares of Common Stock issued upon the proper exercise of a Warrant in conformity with this Agreement shall
be validly issued, fully paid and non-assessable. 
 3.3.4 Date of Issuance. Each person in
whose name any book-entry position or certificate, as applicable, for shares of Common Stock is issued shall for all purposes be deemed to have become the holder of record of such shares of Common Stock on the date on which the Warrant, or
book-entry position representing such Warrant, was surrendered and payment of the Warrant Price was made, irrespective of the date of delivery of such certificate in the case of a certificated Warrant, except that, if the date of such surrender and
payment is a date when the share transfer books of the Company or book-entry system of the Warrant Agent are closed, such person shall be deemed to have become the holder of such shares of Common Stock at the close of business on the next succeeding
date on which the share transfer books or book-entry system of the Warrant Agent are open. 
 3.3.5 Maximum Percentage. A holder of a
Warrant may notify the Company in writing in the event it elects to be subject to the provisions contained in this Section 3.3.5; provided, however, that no holder of a Warrant shall be subject to this
Section 3.3.5 unless such holder makes such election. If the election is made by a holder, the Warrant Agent shall not effect the exercise of the holder’s Warrant, and such holder shall not have the right to exercise
such Warrant, to the extent that after giving effect to such exercise, such person (together with such person’s affiliates), to the Warrant Agent’s actual knowledge, would beneficially own in excess of 9.8%, or such other amount as a
holder may specify (the “Maximum Percentage”) of the shares of Common Stock outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number of shares of Common Stock
beneficially owned by such person and its affiliates shall include the number of shares of Common Stock issuable upon exercise of the Warrant with respect to which the determination of such sentence is being made, but shall exclude shares of Common
Stock that would be issuable upon (a) exercise of the remaining, unexercised portion of the Warrant beneficially owned by such person and its affiliates and (b) exercise or conversion of the unexercised or unconverted portion of any other
securities of the Company beneficially owned by such person and its affiliates (including, without limitation, any convertible notes or convertible preferred stock or warrants) subject to a limitation on conversion or exercise analogous to the
limitation contained herein. Except as set forth in the preceding sentence, for purposes of this paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”). For purposes of the Warrant, in determining the number of outstanding shares of Common Stock, the holder may rely on the number of outstanding shares of Common Stock as reflected in (i) the
Company’s most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, Current Report on Form 8-K or other public
filing with the Commission, as the case may be, (ii) a more recent public announcement by the Company or (iii) any other notice by the Company or the Transfer Agent setting forth the number

  
 4 

 
of shares of Common Stock outstanding. For any reason at any time, upon the written request of the holder of the Warrant, the Company shall, within two (2) Business Days, confirm orally and
in writing to such holder the number of shares of Common Stock then outstanding. In any case, the number of issued and outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of equity securities of
the Company by the holder and its affiliates since the date as of which such number of issued and outstanding shares of Common Stock was reported. By written notice to the Company, the holder of a Warrant may from time to time increase or decrease
the Maximum Percentage applicable to such holder to any other percentage specified in such notice; provided, however, that any such increase shall not be effective until the sixty-first (61st) day after such notice is delivered to the Company. 

4. Adjustments. 

4.1 Stock Dividends and Split Ups. If after the date of this Agreement, and subject to the provisions of
Section 4.7 and Section 4.8, the number of issued and outstanding shares of Common Stock is increased by a stock dividend payable in shares of Common Stock, or by a split up of shares of Common
Stock or other similar event, then, on the effective date of such stock dividend, split up or other similar event, the number of shares of Common Stock issuable on exercise of each Warrant shall be increased in proportion to such increase in the
issued and outstanding shares of Common Stock. 
 4.2 Aggregation of Shares. If after the date of this Agreement, and subject to the
provisions of Section 4.7 and Section 4.8, the number of issued and outstanding shares of Common Stock is decreased by a consolidation, combination, reverse share
sub-division or reclassification of shares of Common Stock or other similar event, then, on the effective date of such consolidation, combination, reverse share
sub-division, reclassification or similar event, the number of shares of Common Stock issuable on exercise of each Warrant shall be decreased in proportion to such decrease in issued and outstanding shares of
Common Stock. 
 4.3 Issuance in Connection with a Business Combination. If (a) the Company issues additional shares of Common
Stock or equity-linked securities for capital raising purposes in connection with a Business Combination at an issue price or effective price of less than $9.20 per share (with such issue price or effective price as determined by the Board, in good
faith, without taking into account any founder shares held by the Company’s sponsor or its affiliates, as applicable, prior to issuance) (the “Newly Issued Price”), (b) the aggregate gross proceeds from such issuances
represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of a Business Combination on the date of the consummation of such Business Combination (net of redemptions of shares of Common Stock, if any) and
(c) the volume weighted average trading price of the Common Stock during the twenty (20) day trading period starting on the trading day prior to the day on which the Company consummates its initial Business Combination (such
price, the “Market Value”) is below $9.20 per share, (i) the Warrant Price will be adjusted (to the nearest cent) to be equal to 115% of the greater of (x) the Market Value and (y) the Newly Issued Price
and (ii) the $18.00 per share redemption trigger price described in Section 6.1 shall be adjusted (to the nearest cent) to be equal to 180% of the higher of (x) the Market Value and (y) the Newly Issued
Price. 
 4.4. Extraordinary Dividends. If the Company, at any time while the Warrants are outstanding and unexpired, shall pay a
dividend or make a distribution in cash, securities or other assets to the holders of the shares of Common Stock or other shares of the Company’s capital stock into which the Warrants are convertible (an “Extraordinary
Dividend”), then the Warrant Price shall be decreased, effective immediately after the effective date of such Extraordinary Dividend, by the amount of cash and the fair market value (as determined by the Board, in good faith) of any
securities or other assets paid in respect of such Extraordinary Dividend divided by all outstanding shares of the Company at such time (whether or not any shareholders waived their right to receive such dividend); provided, however, that none of
the following shall be deemed an Extraordinary Dividend for purposes of this provision: (a) any adjustment described in Section 4.1; (b) any cash dividends or cash distributions which, when combined on a per share
basis with all other cash dividends and cash distributions paid on the Common Stock during the 365-day period ending on the date of declaration of such dividend or distribution does not exceed $0.50 per share
(taking into account all of the outstanding shares of the Company at such time (whether or not any shareholders waived their right to receive such dividend) and as adjusted to appropriately reflect any of the events referred to in other subsections
of this Section 4 and excluding cash dividends or cash distributions that resulted in an adjustment to the Warrant Price or to the number of shares of Common Stock issuable on exercise of each Warrant) but only with respect
to the amount of the aggregate cash dividends or cash distributions equal to or less than $0.50; (c) any payment to satisfy the conversion rights of the holders of the shares of Common Stock in connection with a proposed initial Business Combination
or 

  
 5 

 
certain amendments to the Company’s Amended and Restated Certificate of Incorporation (as described in the Registration Statement); or (d) any payment in connection with the
Company’s liquidation and the distribution of its assets upon its failure to consummate a Business Combination. Solely for purposes of illustration, if the Company, at a time while the Warrants are outstanding and unexpired, pays a cash
dividend of $0.35 and previously paid an aggregate of $0.40 of cash dividends and cash distributions on the Common Stock during the 365-day period ending on the date of declaration of such $0.35 dividend, then
the Warrant Price will be decreased, effectively immediately after the effective date of such $0.35 dividend, by $0.25 (the absolute value of the difference between $0.75 (the aggregate amount of all cash dividends and cash distributions paid or
made in such 365-day period, including such $0.35 dividend) and $0.50 (the greater of (x) $0.50 and (y) the aggregate amount of all cash dividends and cash distributions paid or made in such 365-day period prior to such $0.35 dividend)). Furthermore, solely for the purposes of illustration, if following the closing of the Company’s initial Business Combination, there were total shares outstanding
of 100,000,000 and the Company paid a $1.00 dividend to 17,500,000 of such shares (with the remaining 82,500,000 shares waiving their right to receive such dividend), then no adjustment to the Warrant Price would occur as a $17.5 million
dividend payment divided by 100,000,000 shares equals $0.175 per share which is less than $0.50 per share. 
 4.5 Adjustments in Warrant
Price. Whenever the number of Ordinary Shares purchasable upon the exercise of the Warrants is adjusted, as provided in Section 4.1 or Section 4.2, the Warrant Price shall be adjusted (to the
nearest cent) by multiplying such Warrant Price immediately prior to such adjustment by a fraction (a) the numerator of which shall be the number of shares of Common Stock purchasable upon the exercise of the Warrants immediately prior to such
adjustment, and (b) the denominator of which shall be the number of shares of Common Stock purchasable immediately thereafter. 
 4.6
Replacement of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the issued and outstanding shares of Common Stock (other than a change covered by Section 4.1 or
Section 4.2 or that solely affects the par value of the Common Stock), or in the case of any merger or consolidation of the Company with or into another entity in which any “person” or “group” (as such
terms are used in Sections 13(d) and 14(d) of the Exchange Act) acquires more than 50% of the voting power of the Company’s securities, or in the case of any sale or conveyance to another corporation or entity of the assets or other property of
the Company as an entirety or substantially as an entirety, the Warrant holders shall thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the Warrants and in lieu of the Shares of Common
Stock of the company immediately theretofore purchasable and receivable upon the exercise of the rights represented thereby, the kind and amount of shares of stock or other securities or property (including cash) receivable upon such
reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the Warrant holder would have received if such Warrant holder had exercised its Warrant(s) immediately prior to such event. If
any reclassification or reorganization also results in a change in the Common Stock covered by Section 4.1, Section 4.2 or Section 4.3, then such adjustment shall be made
pursuant to Section 4.1, Section 4.2 and Section 4.3, Section 4.4, and Section 4.5, as applicable, and this
Section 4.6. The provisions of this Section 4.6 shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers. In no event will the
Warrant Price be reduced to less than the par value per share issuable upon exercise of the Warrant. 
 4.7 Notices of Changes in
Warrant. Upon every adjustment of the Warrant Price or the number of shares of Common Stock issuable upon exercise of a Warrant, the Company shall give written notice thereof to the Warrant Agent, which such notice shall state the Warrant Price
resulting from such adjustment and the increase or decrease, if any, in the number of shares of Common Stock purchasable at the Warrant Price upon the exercise of a Warrant, setting forth in reasonable detail the method of calculation and the facts
upon which such calculation is based; provided, however, that no adjustment to the number of shares of Common Stock issuable upon exercise of a Warrant shall be required until cumulative adjustments amount to one precent (1%) or more of the number
of shares of Common Stock issuable upon exercise of a Warrant as last adjusted; provided, further, that any such adjustments that are not made are carried forward and taken into account in any subsequent adjustment. Notwithstanding the foregoing,
all such carried forward adjustments shall be made (a) in connection with any subsequent adjustment that (taken together with such carried forward adjustments) would result in a change of at least one percent (1%) in the number of shares of
Common Stock issuable upon exercise of a Warrant and (b) on the exercise date of any Warrant. Upon the occurrence of any event specified in Section 4.1, Section 4.2,
Section 4.3, Section 4.4, Section 4.5, or Section 4.6, the Company shall give written notice of the occurrence of such event to each Warrant
holder, at the last address set forth for such holder in the Warrant Register, of the record date or the effective date of the event. Failure to give such notice, or any defect therein, shall not affect the legality or validity of such event. 

  
 6 

 4.8 No Fractional Shares. Notwithstanding any provision contained in this Agreement
to the contrary, the Company shall not issue fractional shares of Common Stock upon the exercise of Warrants. If, by reason of any adjustment made pursuant to this Section 4, the holder of any Warrant would be entitled,
upon the exercise of such Warrant, to receive a fractional interest in a share, the Company shall round down, to the nearest whole number, the number of shares of Common Stock to be issued to such holder upon exercise. Notwithstanding any provision
contained in this Agreement to the contrary, no shares of Common Stock shall be issued at less than their par value. 
 4.9 Form of
Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this Section 4, and Warrants issued after such adjustment may state the same Warrant Price and the same number of shares of Common
Stock as is stated in the Warrants initially issued pursuant to this Agreement; provided, however, that the Company may at any time in its sole discretion make any change in the form of Warrant that the Company may deem appropriate and that does not
affect the substance thereof, and any Warrant thereafter issued or countersigned, whether in exchange or substitution for an outstanding Warrant or otherwise, may be in the form as so changed. 

5. Transfer and Exchange of Warrants. 

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

 5.2 Procedure for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, together with a written request for
exchange or transfer, and thereupon the Warrant Agent shall issue in exchange therefor one or more new Warrants as requested by the Registered Holder of the Warrants so surrendered, representing an equal aggregate number of Warrants; provided,
however, that in the event that a Warrant surrendered for transfer bears a restrictive legend, the Warrant Agent shall not cancel such Warrant and issue new Warrants in exchange thereof until the Warrant Agent has received an opinion of counsel for
the Company stating that such transfer may be made and indicating whether the new Warrants must also bear a restrictive legend. 
 5.3
Transfers of Fractions of Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange of Warrants that would require the issuance of a warrant certificate or book-entry position for a fraction of a
Warrant, except as part of the Units, each of which is comprised of one share of Common Stock and three quarters of one Public Warrant. 

5.4 Service Charges. No service charge shall be made for any exchange or registration of transfer of Warrants. 

5.5 Warrant Execution and Countersignature. The Warrant Agent is hereby authorized to countersign and to deliver, in accordance with the
terms of this Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5, and the Company, whenever required by the Warrant Agent, shall supply the Warrant Agent with Warrants duly executed on behalf of the
Company for such purpose. 
 5.6 Transfer of Warrants. Prior to the Detachment Date, the Warrants may be transferred or exchanged only
together with the Unit in which such Warrant is included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange of such Unit. Furthermore, each transfer of a Unit on the register relating to such Units shall operate
also to transfer the Warrants included in such Unit. Notwithstanding the foregoing, the provisions of this Section 5.6 shall have no effect on any transfer of Warrants on and after the Detachment Date. 

  
 7 

 6. Redemption. 

6.1 Redemption of Warrants. All, but not less than all, of the outstanding Warrants may be redeemed, at the option of the Company, at
any time during the Exercise Period, at the office of the Warrant Agent, upon notice to the Registered Holders of the Warrants, as described in Section 6.3, at a Redemption Price of $0.01 per Warrant, provided that the last
reported sale price of the Common Stock has been at least $18.00 per share (subject to adjustment in compliance with Section 4), on each of twenty (20) trading days within the thirty (30) trading day period commencing once the
warrants become exercisable and ending on the third (3rd) trading day prior to the date on which notice of the redemption is given and provided that there is an effective registration statement covering the shares of Common Stock issuable upon
exercise of the Warrants, and a current prospectus relating thereto, available throughout the 30-day Redemption Period (as defined in Section 6.2) or the Company has elected to
require the exercise of the Warrants on a “cashless basis” pursuant to Section 3.3.1(ii). 
 6.2 Date
Fixed for, and Notice of, Redemption; Redemption Price. In the event that the Company elects to redeem the Warrants pursuant to Section 6.1 hereof, the Company shall fix a date for the redemption (the
“Redemption Date”). Notice of redemption shall be mailed by first class mail, postage prepaid, by the Company not less than thirty (30) days prior to the Redemption Date (the
“30-day Redemption Period”) to the Registered Holders of the Warrants to be redeemed at their last addresses as they shall appear on the registration books. Any notice mailed in the
manner herein provided shall be conclusively presumed to have been duly given whether or not the Registered Holder received such notice. As used in this Agreement, “Redemption Price” shall mean the price per Warrant at which
any Warrants are redeemed pursuant to Sections 6.1 hereof. 
 6.3 Exercise After Notice of Redemption. The Warrants may be
exercised, for cash pursuant to Section 3.3.1(i) (or on a “cashless basis” pursuant to Section 3.3.1(ii), if applicable), at any time after notice of redemption shall have been given by
the Company pursuant to Section 6.2 hereof and prior to the Redemption Date. In the event that the Company determines to require all holders of Warrants to exercise their Warrants on a “cashless basis” pursuant to
Section 3.3.1(ii), the notice of redemption shall contain instructions on how to calculate the number of shares of Common Stock to be received upon exercise of the Warrants. On and after the Redemption Date, the record
holder of the Warrants shall have no further rights except to receive, upon surrender of the Warrants, the Redemption Price. 
 7.
Other Provisions Relating to Rights of Holders of Warrants. 
 7.1 No Rights as Stockholder. A Warrant does not entitle
the Registered Holder thereof to any of the rights of a stockholder of the Company, including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive rights to vote or to consent or to receive notice as
stockholders in respect of the meetings of stockholders or the election of directors of the Company or any other matter. 
 7.2 Lost,
Stolen, Mutilated or Destroyed Warrants. If any Warrant is lost, stolen, mutilated or destroyed, the Company and the Warrant Agent may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of
a mutilated Warrant, include the surrender thereof), issue a new Warrant of like denomination, tenor and date as the Warrant so lost, stolen, mutilated or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the
Company, whether or not the allegedly lost, stolen, mutilated or destroyed Warrant shall be at any time enforceable by anyone. 
 7.3
Reservation of Common Stock. The Company shall at all times reserve and keep available a number of its authorized but unissued shares of Common Stock that shall be sufficient to permit the exercise in full of all outstanding Warrants issued
pursuant to this Agreement. 
 7.4 Registration of Common Stock; Cashless Exercise at Company’s Option. 

7.4.1 Registration of the Common Stock. Subject to Section 7.4.2, the Company agrees that as soon as
practicable, but in no event later than fifteen (15) Business Days after the closing of its initial Business Combination, it shall use its best efforts to file with the Commission a post-effective amendment to the registration statement for the
Offering or a new registration statement for the registration, under the Securities Act, of the shares of Common Stock issuable upon exercise of the Warrants. The Company shall use its best efforts to cause the same to become effective and to
maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration of the Warrants in accordance with the provisions of this Agreement. Except as provided in
Section 7.4.2, for the avoidance of any doubt, unless and until all of the Warrants have been exercised, the Company shall continue to be obligated to comply with its registration obligations under the first two sentences
of this Section 7.4.1. 

  
 8 

 7.4.2 Cashless Exercise at Company’s Option. The Company shall
have the right to cause the exercise of Warrants on a “cashless basis” with respect to (a) all, but not less than all, of the Warrants, at any time and for any or no reason and (b) any Warrants exercised by the holder thereof
pursuant to Section 3, if the Common Stock is at the time of such exercise not listed on a national securities exchange such that the Common Stock satisfies the definition of a “covered security” under Section 18(b)(1) of the
Securities Act (or any successor rule). The date that notice of any cashless exercise pursuant to this Section 7.4.2 is received by the Warrant Agent shall be conclusively determined by the Warrant Agent. 

With respect to any cashless exercise of Warrants pursuant to clause (b) of the foregoing sentence, the Company shall (i) not be
required to file or maintain in effect a registration statement for the registration, under the Securities Act, of the Common Stock issuable upon exercise of such Warrants, notwithstanding anything in this Agreement to the contrary, (ii) use
its best efforts to register or qualify the Common Stock issuable upon exercise of such Warrants under the blue sky laws of the state of residence of the exercising Warrant holder to the extent an exemption is not available and (iii) upon
request, provide the Warrant Agent with an opinion of counsel for the Company (which shall be an outside law firm with securities law experience) stating that (A) such exercise of the Warrants is not required to be registered under the
Securities Act and (B) the shares of Common Stock issued upon such exercise shall be freely tradable under United States federal securities laws by anyone who is not an affiliate (as such term is defined in Rule 144 under the Securities Act (or
any successor rule)) of the Company and, accordingly, shall not be required to bear a restrictive legend. 
 To exercise any Warrants on a
cashless basis pursuant to this Section 7.4.2, the Warrant Price shall be paid by the holder of such Warrants by surrendering such Warrants in exchange for a number of shares of Common Stock equal to the quotient obtained
by dividing (1) the product of (x) the number of shares of Common Stock underlying such Warrants and (y) the excess of the Fair Market Value (as defined below) over the Warrant Price of such Warrants by (2) the Fair Market Value
(the Warrant Price, as so paid, the “Cashless Exercise Price”). The term “Fair Market Value” as used in this Section 7.4.2 shall mean the average last reported sale price of
the Common Stock as reported during the ten (10) trading day period ending on the third (3rd) trading day prior to the date that notice of exercise is sent to the holder of such Warrants or its securities broker or intermediary. 

8. Concerning the Warrant Agent and Other Matters. 

8.1 Payment of Taxes. The Company shall from time to time promptly pay all taxes and charges that may be imposed upon the Company or the
Warrant Agent in respect of the issuance or delivery of shares of Common Stock upon the exercise of the Warrants, but the Company shall not be obligated to pay any transfer taxes in respect of the Warrants or such shares of Common Stock. 

8.2 Resignation, Consolidation or Merger of Warrant Agent. 

8.2.1 Appointment of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its duties and
be discharged from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the office of the Warrant Agent becomes vacant by resignation or incapacity to act or otherwise, the Company
shall appoint in writing a successor Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment within a period of thirty (30) days after it has been notified in writing of such resignation or incapacity by
the Warrant Agent or by the holder of a Warrant (who shall, with such notice, submit such holder’s Warrant for inspection by the Company), then the holder of any Warrant may apply to the Supreme Court of the State of New York for the County of
New York for the appointment of a successor Warrant Agent at the Company’s cost. Any successor Warrant Agent, whether appointed by the Company or by such court, shall be a corporation or other entity organized and existing under the laws of the
State of New York, in good standing and having its principal office in the United States of America, and authorized under such laws to exercise corporate trust powers and subject to supervision or examination by federal or state authority. After
appointment, any successor Warrant Agent shall be vested with all the authority, powers, rights, immunities, duties and obligations of its predecessor Warrant Agent with like effect as if originally named as Warrant Agent hereunder, without any
further act or deed; but if for any reason it becomes necessary or appropriate, the predecessor Warrant Agent shall execute and deliver, at the expense of the Company, an instrument transferring to such successor Warrant Agent all the authority,
powers and rights of such predecessor Warrant Agent hereunder; and upon request of any successor Warrant Agent the Company shall make, execute, acknowledge and deliver any and all instruments in writing for more fully and effectually vesting in and
confirming to such successor Warrant Agent all such authority, powers, rights, immunities, duties and obligations. 

  
 9 

 8.2.2 Notice of Successor Warrant Agent. In the event a successor Warrant Agent
shall be appointed, the Company shall give notice thereof to the predecessor Warrant Agent and the Transfer Agent for the Common Stock not later than the effective date of any such appointment. 

8.2.3 Merger or Consolidation of Warrant Agent. Any entity into which the Warrant Agent may be merged or with which it may be
consolidated or any corporation resulting from any merger or consolidation to which the Warrant Agent shall be a party shall be the successor Warrant Agent under this Agreement without any further act. 

8.3 Fees and Expenses of Warrant Agent. 

8.3.1 Remuneration. The Company agrees to pay the Warrant Agent reasonable remuneration for its services as such Warrant Agent
hereunder and shall, pursuant to its obligations under this Agreement, reimburse the Warrant Agent upon demand for all expenditures that the Warrant Agent may reasonably incur in the execution of its duties hereunder. 

8.3.2 Further Assurances. The Company agrees to perform, execute, acknowledge and deliver or cause to be performed, executed,
acknowledged and delivered all such further and other acts, instruments and assurances as may reasonably be required by the Warrant Agent for the carrying out or performing of the provisions of this Agreement. 

8.4 Liability of Warrant Agent. 

8.4.1 Reliance on Company Statement. Whenever in the performance of its duties under this Agreement, the Warrant Agent shall deem it
necessary or desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed
to be conclusively proved and established by a statement signed by a Chief Executive Officer, Chief Financial Officer, Secretary or Chairman of the Board of the Company and delivered to the Warrant Agent. The Warrant Agent may rely upon such
statement for any action taken or suffered in good faith by it pursuant to the provisions of this Agreement. 
 8.4.2 Indemnity. The
Warrant Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith. The Company agrees to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, costs and
reasonable counsel fees, for anything done or omitted by the Warrant Agent in the execution of this Agreement, except as a result of the Warrant Agent’s gross negligence, willful misconduct or bad faith. 

8.4.3 Exclusions. The Warrant Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the
validity or execution of any Warrant (except its countersignature thereof). The Warrant Agent shall not be responsible for any breach by the Company of any covenant or condition contained in this Agreement or in any Warrant. The Warrant Agent shall
not be responsible to make any adjustments required under the provisions of Section 4 or responsible for the manner, method or amount of any such adjustment or the ascertaining of the existence of facts that would require
any such adjustment; nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization or reservation of any shares of Common Stock to be issued pursuant to this Agreement or any Warrant or as to whether any
shares of Common Stock shall, when issued, be valid and fully paid and non-assessable. 
 8.5
Acceptance of Agency. The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the terms and conditions herein set forth and among other things, shall account promptly to the Company with
respect to Warrants exercised and concurrently account for, and pay to the Company, all monies received by the Warrant Agent for the purchase of shares of Common Stock through the exercise of the Warrants. 

  
 10 

 8.6 Waiver. The Warrant Agent has no right of
set-off or any other right, title, interest or claim of any kind (“Claim”) in, or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust
Agreement, dated as of the date of this Agreement, by and between the Company and the Warrant Agent as trustee thereunder) and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account for any
reason whatsoever. The Warrant Agent hereby waives any and all Claims against the Trust Account and any and all rights to seek access to the Trust Account. 

9. Miscellaneous Provisions. 

9.1 Successors. All the covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind
and inure to the benefit of their respective successors and assigns. 
 9.2 Notices. Any notice, statement or demand authorized by
this Agreement to be given or made by the Warrant Agent or by the holder of any Warrant to or on the Company shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service
within five (5) days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Company with the Warrant Agent), as follows: 

Black Mountain Acquisition Corp. 

425 Houston Street, Suite 400 

Fort Worth, TX 76102 
 Attention:
Rhett Bennett 
 Any notice, statement or demand authorized by this Agreement to be given or made by the holder of any Warrant or by the
Company to or on the Warrant Agent shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five (5) days after deposit of such notice, postage prepaid,
addressed (until another address is filed in writing by the Warrant Agent with the Company), as follows: 
 Continental Stock
Transfer & Trust Company 
 1 State Street, 30th Floor 

New York, NY 10004 
 Attention:
Compliance Department 
 Email: compliance@continentalstock.com 

9.3 Applicable Law. The validity, interpretation and performance of this Agreement and of the Warrants shall be governed in all respects
by the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The Company hereby agrees that any action, proceeding or claim against
it arising out of or relating in any way to this Agreement, including under the Securities Act, shall be brought and enforced in the courts of the State of New York or the United States District Court for the Southern District of New York, and
irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive; provided, however, that the foregoing shall not apply to suits brought to enforce any liability or duty created by the Exchange Act or any other claim for which the
federal district courts of the United States of America are the sole and exclusive forum. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. 

9.4 Persons Having Rights under this Agreement. Nothing in this Agreement shall be construed to confer upon, or give to, any person,
corporation or other entity other than the parties hereto and the Registered Holders of the Warrants any right, remedy or claim under or by reason of this Agreement or of any covenant, condition, stipulation, promise or agreement of this Agreement.
All covenants, conditions, stipulations, promises and agreements contained in this Agreement shall be for the sole and exclusive benefit of the parties hereto and their successors and assigns and of the Registered Holders of the Warrants. 

9.5 Examination of the Warrant Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the
Warrant Agent in the United States of America, for inspection by the Registered Holder of any Warrant. The Warrant Agent may require any such holder to submit such holder’s Warrant for inspection by the Warrant Agent. 

  
 11 

 9.6 Counterparts. This Agreement may be executed in any number of original or
facsimile counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. 

9.7 Effect of Headings. The section headings herein are for convenience only and are not part of this Agreement and shall not affect the
interpretation thereof. 
 9.8 Amendments. This Agreement may be amended by the parties hereto without the consent of any Registered
Holder for the purpose of (a) curing any ambiguity or to correct any mistake, including to conform the provisions of this Agreement to the description of the terms of the Warrants and this Agreement set forth in the Prospectus or (b) or
adding or changing any provisions with respect to matters or questions arising under this Agreement as the parties hereto may deem necessary or desirable and that the parties hereto deem shall not adversely affect the rights of the Registered
Holders. All other modifications or amendments, including any modification or amendment to increase the Warrant Price or shorten the Exercise Period and any amendment to the terms of only the Private Placement Warrants, shall require the written
consent or vote of the Registered Holders of (i) at least 50% of the then-outstanding Public Warrants if such modification or amendment is being undertaken prior to, or in connection with, the consummation of an initial Business Combination,
(ii) at least 50% of all then outstanding Warrants if such modification or amendment is being undertaken after the consummation of an initial Business Combination or (iii) solely with respect to any amendment to the terms of the Private
Placement Warrants or any provision of this Agreement with respect to the Private Placement Warrants, at least 50% of the then outstanding Private Placement Warrants. Notwithstanding the foregoing, the Company may lower the Warrant Price or extend
the duration of the Exercise Period pursuant to Section 3.1 and Section 3.2, respectively, without the consent of the Registered Holders. 

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

Exhibit A — Form of Warrant Certificate 
 Exhibit B —
Legend — Private Placement Warrants 
 [Signature Page Follows] 

  
 12 

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

			
	BLACK MOUNTAIN ACQUISITION CORP.
		
	By:	 	 /s/ Rhett Bennett

	Name:	 	Rhett Bennett
	Title:	 	Chief Executive Officer

  

			
	 CONTINENTAL STOCK TRANSFER &TRUST COMPANY,

as Warrant Agent

		
	By:	 	 /s/ Erika Young

	Name:	 	Erika Young
	Title:	 	Vice President

 SIGNATURE PAGE TO WARRANT
AGREEMENT 

 EXHIBIT A 

[Form of Warrant Certificate] 

[FACE] 
 Number 

Warrants 
 THIS WARRANT
SHALL BE NULL AND VOID IF NOT EXERCISED PRIOR TO 
 THE EXPIRATION OF THE EXERCISE PERIOD PROVIDED FOR 

IN THE WARRANT AGREEMENT DESCRIBED BELOW 

BLACK MOUNTAIN ACQUISITION CORP. 

Incorporated Under the Laws of the State of Delaware 

CUSIP [     ] 

Warrant Certificate 

This Warrant Certificate certifies that             , or registered
assigns, is the registered holder of              warrant(s) evidenced hereby (the “Warrants” and each, a “Warrant”) to purchase shares of
Class A common stock, $0.0001 par value per share (“Class A Common Stock”), of Black Mountain Acquisition Corp., a Delaware corporation (the “Company”). Each
Warrant entitles the holder, upon exercise during the period set forth in the Warrant Agreement referred to below, to receive from the Company that number of fully paid and non-assessable shares of
Class A Common Stock as set forth below, at the exercise price (the “Exercise Price”) as determined pursuant to the Warrant Agreement, payable in lawful money of the United States of America (or through
“cashless exercise” as provided for in the Warrant Agreement) upon surrender of this Warrant Certificate and payment of the Exercise Price at the office or agency of the Warrant Agent referred to below, subject to the
conditions set forth herein and in the Warrant Agreement. Defined terms used in this Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant Agreement. 

Each whole Warrant is initially exercisable for one fully paid and non-assessable share of
Class A Common Stock. Fractional shares shall not be issued upon exercise of any Warrant. If, upon the exercise of Warrants, a holder would be entitled to receive a fractional interest in a share of Class A Common Stock, the Company shall
round down, to the nearest whole number, the number of shares of Class A Common Stock to be issued to the Warrant holder upon exercise. The number of shares of Class A Common Stock issuable upon exercise of the Warrants is subject
to adjustment upon the occurrence of certain events as set forth in the Warrant Agreement. 
 The initial Exercise Price per share of
Class A Common Stock for any Warrant is equal to $11.50 per share. The Exercise Price is subject to adjustment upon the occurrence of certain events as set forth in the Warrant Agreement. 

Subject to the conditions set forth in the Warrant Agreement, the Warrants may be exercised only during the Exercise Period and to the extent
not exercised by the end of such Exercise Period, such Warrants shall become void. 
 Reference is hereby made to the further provisions of
this Warrant Certificate set forth on the reverse hereof and such further provisions shall for all purposes have the same effect as though fully set forth at this place. 

This Warrant Certificate shall not be valid unless countersigned by the Warrant Agent, as such term is used in the Warrant Agreement. 

This Warrant Certificate shall be governed by and construed in accordance with the internal laws of the State of New York, without regard to
conflicts of laws principles thereof. 

  
 A-1 

 
	
	BLACK MOUNTAIN ACQUISITION CORP.
	
	By:                                     
                                         
                  
	Name:
	Title:

  

	
	 CONTINENTAL STOCK TRANSFER &TRUST COMPANY,

as Warrant Agent

	
	By:                                     
                                         
                  
	Name:
	Title:

  

  
 A-2 

 [Form of Warrant Certificate] 

[Reverse] 
 The Warrants
evidenced by this Warrant Certificate are part of a duly authorized issue of Warrants entitling the holder on exercise to receive shares of Class A Common Stock and are issued or to be issued pursuant to a Warrant Agreement dated as of
            , 2021 (the “Warrant Agreement”), duly executed and delivered by the Company to Continental Stock Transfer & Trust Company, a New York
corporation, as warrant agent (the “Warrant Agent”), which such Warrant Agreement is hereby incorporated by reference in and made a part of this instrument and is hereby referred to for a description of the rights, limitation
of rights, obligations, duties and immunities thereunder of the Warrant Agent, the Company and the holders (the words “holders” or “holder” meaning the Registered Holders or Registered Holder,
respectively) of the Warrants. A copy of the Warrant Agreement may be obtained by the holder hereof upon written request to the Company. Defined terms used in this Warrant Certificate but not defined herein shall have the meanings given to them in
the Warrant Agreement. 
 Warrants may be exercised at any time during the Exercise Period set forth in the Warrant Agreement. The holder of
Warrants evidenced by this Warrant Certificate may exercise them by surrendering this Warrant Certificate, with the form of election to purchase set forth hereon properly completed and executed, together with payment of the Exercise Price as
specified in the Warrant Agreement (or through “cashless exercise” as provided for in the Warrant Agreement) at the principal corporate trust office of the Warrant Agent. In the event that upon any exercise of Warrants
evidenced hereby the number of Warrants exercised shall be less than the total number of Warrants evidenced hereby, there shall be issued to the holder hereof or such holder’s assignee, a new Warrant Certificate evidencing the number of
Warrants not exercised. 
 Notwithstanding anything else in this Warrant Certificate or the Warrant Agreement, no Warrant may be exercised
unless at the time of exercise (i) a registration statement covering the issuance of the shares of Class A Common Stock to be issued upon exercise is effective under the Securities Act and (ii) a prospectus thereunder relating to the
shares of Class A Common Stock is current, except through “cashless exercise” as provided for in the Warrant Agreement. 

The Warrant Agreement provides that upon the occurrence of certain events the number of shares of Class A Common Stock issuable upon
exercise of the Warrants set forth on the face hereof may, subject to certain conditions, be adjusted. If, upon exercise of a Warrant, the holder thereof would be entitled to receive a fractional interest in a share of Class A Common Stock, the
Company shall round down, to the nearest whole number, the number of shares of Class A Common Stock to be issued to the holder of the Warrant upon exercise. 

Warrant Certificates, when surrendered at the principal corporate trust office of the Warrant Agent by the Registered Holder thereof in person
or by legal representative or attorney duly authorized in writing, may be exchanged, in the manner and subject to the limitations provided in the Warrant Agreement, but without payment of any service charge, for another Warrant Certificate or
Warrant Certificates of like tenor evidencing in the aggregate a like number of Warrants. 
 Upon due presentation for registration of
transfer of this Warrant Certificate at the office of the Warrant Agent a new Warrant Certificate or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s) in exchange for
this Warrant Certificate, subject to the limitations provided in the Warrant Agreement, without charge except for any tax or other governmental charge imposed in connection therewith. 

The Company and the Warrant Agent may deem and treat the Registered Holder(s) hereof as the absolute owner(s) of this Warrant Certificate
(notwithstanding any notation of ownership or other writing hereon made by anyone), for the purpose of any exercise hereof, of any distribution to the holder(s) hereof, and for all other purposes, and neither the Company nor the Warrant Agent shall
be affected by any notice to the contrary. Neither the Warrants nor this Warrant Certificate entitles any holder hereof to any rights of a stockholder of the Company. 

  
 A-3 

 Election to Purchase 

(To Be Executed Upon Exercise of Warrant) 

The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, to
receive         shares of Class A Common Stock and herewith tenders payment for such shares of Class A Common Stock to the order of Black Mountain Acquisition Corp. (the
“Company”) in the amount of $         in accordance with the terms hereof. The undersigned requests that a certificate for such shares of Class A Common Stock be registered in the
name of           , whose address is         and that such shares be delivered to         whose address
is           . If said number of shares is less than all of the shares of Class A Common Stock purchasable hereunder, the undersigned requests that a new Warrant Certificate representing the
remaining balance of such shares of Class A Common Stock be registered in the name of           , whose address is         and that such Warrant
Certificate be delivered to         , whose address is             . 

In the event that the Warrant is to be exercised on a “cashless basis” pursuant to
Section 7.4 of the Warrant Agreement, the number of shares of Class A Common Stock that this Warrant is exercisable for shall be determined in accordance with Section 7.4 of the Warrant
Agreement. 
 In the event that the Warrant may be exercised, to the extent allowed by the Warrant Agreement, through cashless exercise
(i) the number of shares of Class A Common Stock that this Warrant is exercisable for would be determined in accordance with the relevant section of the Warrant Agreement which allows for such cashless exercise and (ii) the holder
hereof shall complete the following: The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, through the cashless exercise provisions of the Warrant Agreement, to receive shares of Class A
Common Stock. If said number of shares is less than all of the shares of Common Stock purchasable hereunder (after giving effect to the cashless exercise), the undersigned requests that a new Warrant Certificate representing the remaining balance of
such shares of Class A Common Stock be registered in the name of           , whose address is             and that such Warrant
Certificate be delivered to             , whose address is                 . 

[Signature Page Follows] 

  
 A-4 

 Date: 
  

	
	  

	(Signature)
	
	  

	  

	  

	(Address)
	
	  

	(Tax Identification Number)

 Signature Guaranteed: 

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

  
 A-5 

 EXHIBIT B 

LEGEND 
 “THE SECURITIES REPRESENTED
BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, AND ANY APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY BE SUBJECT TO ADDITIONAL LIMITATIONS ON TRANSFER DESCRIBED IN THE LETTER AGREEMENT BY
AND AMONG BLACK MOUNTAIN ACQUISITION CORP. (THE “COMPANY”), BLACK MOUNTAIN SPONSOR LLC AND THE OTHER PARTIES THERETO. 
 SECURITIES EVIDENCED BY
THIS CERTIFICATE AND SHARES OF CLASS A COMMON STOCK OF THE COMPANY ISSUED UPON EXERCISE OF SUCH SECURITIES SHALL BE ENTITLED TO REGISTRATION RIGHTS UNDER A REGISTRATION RIGHTS AGREEMENT TO BE EXECUTED BY THE COMPANY.” 

No. Warrants 

  
 B-1

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