Document:

EX-10.4

 Exhibit 10.4 

Execution Version 

LOCK-UP AGREEMENT 

by and among 
 LIVE OAK
ACQUISITION CORP. II, 
 NAVITAS SEMICONDUCTOR LIMITED, 

including as domesticated in the State of Delaware as 

NAVITAS SEMICONDUCTOR IRELAND, LLC 

and certain 

EQUITYHOLDERS OF SEMICONDUCTOR 

LIMITED AND NAVITAS SEMICONDUCTOR 

IRELAND, LLC 
 Dated as of
May 6, 2021 
 This Lock-Up Agreement (this “Agreement”) is made and
entered into as of May 6, 2021, by and among Live Oak Acquisition Corp. II, a Delaware corporation (“LOKB”), Navitas Semiconductor Limited, a private company limited by shares organized under the laws of Ireland
(“Navitas Ireland”) and domesticated in the State of Delaware as Navitas Semiconductor Ireland, LLC, a Delaware limited liability company (“Navitas Delaware” and, together with Navitas Ireland, the
“Company”), and those equityholders of Navitas Ireland and Navitas Delaware listed on the signature pages hereto (each, a “Lock-Up Party” and, collectively, the
“Lock-Up Parties”). Capitalized terms used but not otherwise defined herein shall have the respective meanings ascribed to such terms in the Business Combination Agreement (as defined
below). 
 RECITALS 

WHEREAS, on the date hereof, LOKB, Live Oak Merger Sub Inc., a Delaware corporation and a direct, wholly owned subsidiary of LOKB
(“Merger Sub”), and the Company, entered into a Business Combination Agreement and Plan of Reorganization (the “Business Combination Agreement”), pursuant to which, among other things, (i) LOKB
will be obligated to commence a tender offer for the entire share capital of Navitas Ireland other than Navitas Ireland Restricted Shares (the “Tender Offer”) and (ii) Merger Sub will merge with and into Navitas Delaware
(the “Merger”), with Navitas Delaware surviving the merger as a wholly-owned subsidiary of LOKB, in each case, upon the terms and subject to the conditions set forth in the Business Combination Agreement; 

WHEREAS, each Lock-Up Party agrees to enter into this Agreement with respect to all Lock-Up Securities (as defined below) that such Lock-Up Party now or hereafter Beneficially Owns or owns of record; 

WHEREAS, each of LOKB, the Company and each Lock-Up Party has determined that it is in its best
interests to enter into this Agreement; and 
 WHEREAS, each Lock-Up Party understands and
acknowledges that LOKB and the Company are entering into the Business Combination Agreement in reliance upon such Lock-Up Party’s execution and delivery of this Agreement. 

NOW, THEREFORE, in consideration of the foregoing and the respective representations, warranties, covenants and agreements set forth below and
for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, do hereby agree as follows: 

1. Definitions. When used in this Agreement, the following terms in all of their tenses, cases and correlative forms shall have the meanings assigned to
them in this Section 1 or elsewhere in this Agreement. 
 “Affiliate” of a
specified person means a Person who, directly or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, such specified Person (provided that if a
Lock-Up Party is a venture capital, private equity or angel fund, no portfolio company of such Lock-Up Party will be deemed an Affiliate of such Lock-Up Party). 

 “Beneficially Own” means, with regard to any securities,
having “beneficial ownership” of such securities for purposes of Rule 13d-3 or 13d-5 under the Exchange Act. Similar terms such as “Beneficial
Ownership” and “Beneficial Owner” have the corresponding meanings. 
 “Expiration Time” shall
mean the earliest to occur of (a) the Closing Date, (b) such date as the Business Combination Agreement shall be validly terminated in accordance with Article X thereof, and (c) the effective date of a written agreement of the parties
hereto terminating this Agreement. 
 “Family Member” means with respect to any individual, a spouse, lineal
descendant (whether natural or adopted) or spouse of a lineal descendant of such individual or any trust created for the benefit of such individual or of which any of the foregoing is a beneficiary. 

“Governmental Authority” means any United States federal, state, county, municipal or other local or non-United States government, governmental, regulatory or administrative authority, agency, instrumentality or commission or any court, tribunal, or judicial or arbitral body. 

“Law” means any applicable federal, national, state, county, municipal, provincial, local, foreign or
multinational statute, constitution, common law, ordinance, code, decree, order, judgment, rule, binding regulation, ruling or requirement issued, enacted, adopted, promulgated, implemented or otherwise put into effect by or under the authority of
any Governmental Authority. 
 “Lock-Up Securities” means any LOKB
Securities Beneficially Owned by a Lock-Up Party as of immediately following the Closing Date, other than (i) any security received pursuant to an incentive plan adopted by LOKB on or after the Closing
Date, or (ii) any LOKB Securities acquired in open market transactions. 
 “LOKB Common Stock” means
LOKB’s Class A common stock, par value $0.0001 per share. 
 “LOKB Securities” means (a) any
shares of LOKB Common Stock, (b) any shares of LOKB Common Stock issued or issuable upon the exercise of any warrant or other right to acquire shares of such LOKB Common Stock and (c) any equity securities of LOKB that may be issued or
distributed or be issuable with respect to the securities referred to in clauses (a) or (b) by way of conversion, dividend, stock split or other distribution, merger, consolidation, exchange, recapitalization or reclassification or similar
transaction. 
 “Permitted Transferee” means with respect to any Person, (a) any Family Member of such
Person, (b) any Affiliate of such Person or to any investment fund or other entity controlled or managed by such Person, (c) any Affiliate of any Family Member of such Person, (d) if the undersigned is a corporation, partnership,
limited liability company or other business entity, its stockholders, partners, members or other equityholders, and (e) the Company or LOKB in connection with the repurchase of shares of LOKB Common Stock issued pursuant to equity awards
granted under a stock incentive plan or other equity award plan. 

  
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 “Person” means an individual, corporation, partnership,
limited partnership, limited liability company, syndicate, person (including a “person” as defined in Section 13(d)(3) of the Exchange Act), trust, association or entity or government, political subdivision, agency or instrumentality
of a government. 
 “Transfer” means, excluding entry into this Agreement and the Business Combination
Agreement and the consummation of the transactions contemplated hereby and thereby, any (a) sale or assignment of, offer to sell, contract or agreement to sell, hypothecate or pledge, grant of any option to purchase or otherwise dispose of or
agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Exchange Act and the
rules and regulations of the Securities and Exchange Commission promulgated thereunder with respect to, any security, (b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences
of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (c) public announcement of any intention to effect any transaction specified in clause (a) or (b). 

2. Lock-Up. 

2.1 Lock-Up. Each Lock-Up Party severally, and not
jointly, agrees with LOKB not to effect any Transfer, or make a public announcement of any intention to effect such Transfer, of any Lock-Up Securities Beneficially Owned or otherwise held by such Lock-Up Party during the Lock-Up Period (as defined below); provided, that such prohibition shall not apply to Transfers permitted pursuant to
Section 2.2. The “Lock-Up Period” shall be the period commencing on the Closing Date and ending on the date that is the earlier to occur of (a) one year
following the Closing Date; (b) subsequent to the Closing, the date on which the reported closing price of one share of LOKB Common Stock quoted on the New York Stock Exchange (or the exchange on which the shares of LOKB Common Stock are then
listed) equals or exceeds twelve dollars ($12.00) per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like occurring after the Closing Date) for any twenty (20) Trading Days (as defined below)
within any thirty (30) consecutive Trading Day period commencing at least one-hundred and fifty (150) days after the Closing Date; and (c) the date on which LOKB completes a liquidation, merger,
capital stock exchange, reorganization or other similar transaction that results in all of LOKB’s stockholders having the right to exchange their LOKB Securities for cash, securities or other property. “Trading Day”
means a day on which shares of LOKB Common Stock are actually traded on the principal securities exchange or securities market on which shares of LOKB Common Stock are then traded; provided, however, that if the LOKB Common Stock is
not so listed or admitted for trading, Trading Day means a Business Day. For the avoidance of any doubt, (i) each Lock-Up Party shall retain all of its rights as a stockholder of LOKB during the Lock-Up Period, including the right to vote, and to receive any dividends and distributions in respect of, any Lock-Up Securities, and (ii) the restrictions contained in
this Section 2 shall not apply to (A) any shares of LOKB Common Stock issued in the Private Placements and (B) any other LOKB Securities acquired by any Lock-Up Party in any
public or private capital raising transactions of LOKB or otherwise with respect to any LOKB Common Stock (or other securities of LOKB) other than the Lock-Up Securities. 

  
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 2.2 Permitted Transfers. Notwithstanding anything to the contrary contained in this
Agreement, during the Lock-Up Period, each Lock-Up Party may Transfer, without the consent of LOKB, any of such Lock-Up
Party’s Lock-Up Securities (i) to any of such Lock-Up Party’s Permitted Transferees, upon written notice to LOKB or (ii) (a) in the case of an
individual, by virtue of laws of descent and distribution upon death of the individual; (b) in the case of an individual, pursuant to a qualified domestic relations order; or (c) pursuant to any liquidation, merger, stock exchange or other
similar transaction which results in all of LOKB’s stockholders having the right to exchange their LOKB Securities for cash, securities or other property subsequent to the Merger; provided, that in connection with any Transfer of such Lock-Up Securities, the restrictions and obligations contained in Section 2.1 and this Section 2.2 will continue to apply to such
Lock-Up Securities after any Transfer of such Lock-Up Securities and such transferee shall execute a lock-up agreement
substantially in the form of this Agreement for the balance of the Lock-Up Period. Notwithstanding the foregoing provisions of this Section 2.2, a
Lock-Up Party may (i) not make a Transfer to a Permitted Transferee if such Transfer has as a purpose the avoidance of or is otherwise undertaken in contemplation of avoiding the restrictions on Transfers
in this Agreement (it being understood that the purpose of this provision includes prohibiting the Transfer to a Permitted Transferee (A) that has been formed to facilitate a material change with respect to who or which entities Beneficially
Own the Lock-Up Securities, or (B) followed by a change in the relationship between the Lock-Up Party and the Permitted Transferee (or a change of control of such Lock-Up Party or Permitted Transferee) after the Transfer with the result and effect that the Lock-Up Party has indirectly made a Transfer of
Lock-Up Securities by using a Permitted Transferee, which Transfer would not have been directly permitted under this Article II had such change in such relationship occurred prior to such Transfer), or
(ii) enter into a written plan meeting the requirements of Rule 10b5-1 under the Exchange Act after the date of this Agreement relating to the sale of the undersigned’s
Lock-Up Securities, provided that (A) the securities subject to such plan may not be sold until after the expiration of the Lock-Up Period and (B) the
Company shall not be required to effect, and the undersigned shall not effect or cause to be effected, any public filing, report or other public announcement regarding the establishment of the trading plan. Notwithstanding anything to the contrary
set forth in this Agreement, the Lock-Up Party set forth on Schedule 2.2 hereto (the “Carve-Out Party”) shall be permitted to Transfer without
restriction under this Agreement the number of shares of LOKB Common Stock issued to the Carve-Out Party with respect to an aggregate of 256,487 Navitas Ireland Shares and 256,487 Navitas Delaware Shares
pursuant to the Business Combination Agreement. 

  
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 3. Confidentiality. Until the Expiration Time, each Lock-Up
Party will and will direct its Affiliates to keep confidential and not disclose any non-public information relating to LOKB or the Company and their respective subsidiaries, including the existence or terms
of, or transactions contemplated by, this Agreement, the Business Combination Agreement or the other Transaction Documents, except to the extent that such information (i) was, is or becomes generally available to the public after the date
hereof other than as a result of a disclosure by such Lock-Up Party in breach of this Section 3, (ii) is, was or becomes available to such
Lock-Up Party on a non-confidential basis from a source other than LOKB or the Company, or (iii) is or was independently developed by such Lock-Up Party after the date hereof. Notwithstanding the foregoing, such information may be disclosed to the extent required to be disclosed in a judicial or administrative proceeding, or otherwise required to be
disclosed by applicable Law (including complying with any oral or written questions, interrogatories, requests for information or documents, subpoena, civil investigative demand or similar process to which such disclosing party is subject),
provided that such Lock-Up Party gives LOKB or the Company, as applicable, prompt notice of such request(s) or requirement(s), to the extent practicable (and not prohibited by Law), so that LOKB or the
Company may seek, at its expense, an appropriate protective order or similar relief (and such Lock-Up Party shall reasonably cooperate with such efforts it being understood that such obligation to reasonably
cooperate does not require a Lock-Up Party to itself commence litigation regarding such protective order or similar relief). 

4. Representations and Warranties of the Lock-Up Parties. Each Lock-Up
Party hereby represents and warrants, severally and not jointly, to the Company and LOKB as follows: 
 4.1 Due Authority. Such Lock-Up Party has the full power and authority to execute and deliver this Agreement and perform its obligations hereunder. If such Lock-Up Party is an individual, the
signature to this agreement is genuine and such Lock-Up Party has legal competence and capacity to execute the same. This Agreement has been duly and validly executed and delivered by such Lock-Up Party and, assuming due execution and delivery by the other parties hereto, constitutes a legal, valid and binding obligation of such Lock-Up Party, enforceable
against such Lock-Up Party in accordance with its terms, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of
creditors’ rights generally, and by general equitable principles. 
 4.2 No Conflict; Consents. 

(a) The execution and delivery of this Agreement by such Lock-Up Party does not, and
the performance by such Lock-Up Party of the obligations under this Agreement and the compliance by such Lock-Up Party with any provisions hereof do not and will not:
(i) conflict with or violate any Law applicable to such Lock-Up Party, (ii) if such Lock-Up Party is an entity, conflict with or violate the certificate of
incorporation or bylaws or any equivalent Organizational Documents of such Lock-Up Party, or (iii) result in any breach of, or constitute a default (or an event, which with notice or lapse of time or
both, would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, or result in the creation of a lien on any of the securities of the Company owned by such
Lock-Up Party pursuant to any note, bond, mortgage, indenture, contract, agreement, lease, license, permit, franchise or other instrument or obligation to which such
Lock-Up Party is a party or by which such Lock-Up Party is otherwise bound, except, in the case of clauses (i) and (iii), as would not reasonably be expected,
individually or in the aggregate, to materially impair the ability of such Lock-Up Party to perform its obligations hereunder or to consummate the transactions contemplated hereby. 

  
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 (b) The execution and delivery of this Agreement by such Lock-Up Party does not, and the performance of this Agreement by such Lock-Up Party will not, require any consent, approval, authorization or permit of, or filing or
notification to, or expiration of any waiting period by any Governmental Authority, other than those set forth as conditions to closing in the Business Combination Agreement. 

4.3 Absence of Litigation. As of the date hereof, there is no litigation, suit, claim, charge, grievance, action, proceeding, audit or
investigation by or before any Governmental Authority (an “Action”) pending against, or, to the knowledge of such Lock-Up Party, threatened against such
Lock-Up Party that would reasonably be expected to materially impair the ability of such Lock-Up Party to perform its obligations hereunder or to consummate the
transactions contemplated hereby. 
 4.4 Absence of Conflicting Agreements. Such Lock-Up Party
has not entered into any agreement, arrangement or understanding that is otherwise materially inconsistent with, or would materially interfere with, or prohibit or prevent it from satisfying, its obligations pursuant to this Agreement. 

5. Fiduciary Duties. The covenants and agreements set forth herein shall not prevent any designee of any Lock-Up
Party from serving on the Board of Directors or as an officer of the Company or from taking any action, subject to the provisions of the Business Combination Agreement, while acting in such designee’s capacity as a director or officer of the
Company. Each Lock-Up Party is entering into this Agreement solely in its capacity as the anticipated owner of LOKB Securities following the consummation of the Tender Offer and the Merger. 

6. Termination. This Agreement shall terminate upon the earlier of: (i) termination of the Business Combination Agreement in accordance with its
terms; or (ii) completion of the Lock-Up as specified in Section 2.1 of this Agreement. Upon termination of this Agreement, none of the parties hereto shall have any further
obligations or liabilities under this Agreement; provided, that nothing in this Section 6 shall relieve any party hereto of liability for any willful material breach of this Agreement prior to its termination. 

7. Miscellaneous. 
 7.1
Severability. In the event that any term, provision, covenant or restriction of this Agreement, or the application thereof, is held to be illegal, invalid or unenforceable under any present or future Law: (a) such provision will be fully
severable; (b) this Agreement will be construed and enforced as if such illegal, invalid or unenforceable provision had never comprised a part hereof; (c) the remaining provisions of this Agreement will remain in full force and effect and
will not be affected by the illegal, invalid or unenforceable provision or by its severance herefrom; and (d) in lieu of such illegal, invalid or unenforceable provision, there will be added automatically as a part of this Agreement a legal,
valid and enforceable provision as similar in terms of such illegal, invalid or unenforceable provision as may be possible. 

  
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 7.2 Non-survival of Representations and
Warranties. None of the representations or warranties in this Agreement or in any schedule, instrument or other document delivered pursuant to this Agreement shall survive the Expiration Time. 

7.3 Assignment. Neither party hereto may assign, directly or indirectly, including, through any merger, acquisition, sale of all or
substantially all shares/assets or by operation of Law, either this Agreement or any of its rights, interests or obligations hereunder without the prior written approval of the other parties hereto, except with respect to a Transfer completed in
accordance with Section 2.2. Subject to the first sentence of this Section 7.3, this Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective
successors and permitted assigns. Any assignment in violation of this Section 7.3 shall be void ab initio. 
 7.4
Amendments and Modifications. This Agreement may be amended by the parties hereto at any time by execution of an instrument in writing signed by (a) LOKB, (b) the Company and (c) (i) if prior to the Closing Date, by Lock-Up Parties holding at least 60% of the issued and outstanding Navitas Delaware Common Shares (assuming the hypothetical conversion of all outstanding Navitas Delaware Preferred Shares) and at least 60% of the
issued and allotted Navitas Ireland Common Shares (assuming the hypothetical conversion of all allotted Navitas Ireland Preferred Shares), in each case then held by Lock-Up Parties, and (ii) if after the
Closing Date, by Lock-Up Parties holding at least 60% of the Lock-Up Securities (assuming the hypothetical exercise of all then-outstanding warrants and options that are
Lock-Up Securities) that are then subject to this Agreement, and any such amendment shall be binding on all the Lock-Up Parties; provided, however, that in
no event shall the obligation of any Lock-Up Party hereunder be materially increased without the prior written consent of such Lock-Up Party; provided,
further, however, that (A) if this Agreement, or any other lock-up agreement signed by a stockholder of the Company in connection with the transactions contemplated hereby or under the
Business Combination Agreement, is amended, modified or waived in a manner favorable to any Lock-Up Party or such shareholder, and such amendment, modification or waiver would be favorable to any other Lock-Up Party, this Agreement shall be automatically amended in the same manner with respect to such other Lock-Up Party (and LOKB shall provide prompt notice thereof to all Lock-Up Parties), and (B) if any Lock-Up Party or such shareholder is released from any or all of the lock-up restrictions under
this Lock-Up Agreement or such other lock-up agreement, each other Lock-Up Party shall automatically be contemporaneously and
proportionately released from the lock-up restrictions hereunder (which, for the avoidance of doubt, will include a release of the same percentage of such Lock-Up
Party’s Lock-Up Securities) and LOKB shall provide prompt notice thereof to each Lock-Up Party. 

7.5 Governing Law; Waiver of Jury Trial; Specific Performance. 

(a) This Agreement and all Actions based upon, arising out of or related to this Agreement or the transactions contemplated
hereby shall be governed by, and construed in accordance with, the Laws of the State of Delaware. 

  
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 (b) All legal actions and proceedings arising out of or relating to this
Agreement shall be heard and determined exclusively in any Delaware Chancery Court; provided, that if jurisdiction is not then available in the Delaware Chancery Court, then any such legal Action may be brought in any federal court located in
the State of Delaware or any other Delaware state court. The parties hereto hereby (x) irrevocably submit to the exclusive jurisdiction of the aforesaid courts for themselves and with respect to their respective properties for the purpose of
any Action arising out of or relating to this Agreement brought by any party hereto, and (y) agree not to commence any Action relating thereto except in the courts described above in Delaware, other than with respect to any appellate court
thereof and other than Actions in any court of competent jurisdiction to enforce any judgment, decree or award rendered by any such court in Delaware as described herein. Each of the parties further agrees that notice as provided herein shall
constitute sufficient service of process and the parties further waive any argument that such service is insufficient. Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by
Law. Each of the parties irrevocably and unconditionally waives, and agrees not to assert, by way of motion or as a defense, counterclaim or otherwise, in any Action arising out of or relating to this Agreement or the transactions contemplated
hereby, (i) any claim that it is not personally subject to the jurisdiction of the courts in Delaware as described herein for any reason, (ii) that it or its property is exempt or immune from jurisdiction of any such court or from any
legal process commenced in such courts (whether through service of notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise) and (iii) that (A) the Action in any such court is
brought in an inconvenient forum, (B) the venue of such Action is improper or (C) this Agreement, or the subject matter hereof, may not be enforced in or by such courts. 

(c) Each Lock-Up Party and Navitas Ireland hereby irrevocably (i) appoints Navitas
Delaware (the “Process Agent”), and Navitas Delaware hereby accepts such appointment, to receive, for such Lock-Up Party or Navitas Ireland, as applicable, and on such Lock-Up Party’s or Navitas Ireland’s behalf, as applicable, service of process in any proceedings arising out of or relating to this Agreement or any other transactions contemplated by this Agreement or
the Business Combination Agreement and (ii) consents to receive notice of service of process through service on the Process Agent. If for any reason the Process Agent is prohibited by Law to act as such, each
Lock-Up Party and Navitas Ireland shall, within thirty (30) days, appoint a substitute Process Agent located in the State of Delaware and give notice of such appointment to LOKB. 

(d) Each of the parties hereby waives to the fullest extent permitted by applicable Law any right it may have to a trial by
jury with respect to any litigation directly or indirectly arising out of, under or in connection with this Agreement or the transactions contemplated hereby. Each of the parties (i) certifies that no representative, agent or attorney of any
other party has represented, expressly or otherwise, that such other party would not, in the event of litigation, seek to enforce that foregoing waiver and (ii) acknowledges that it and the others hereto have been induced to enter into this
Agreement by, among other things, the mutual waivers and certifications in this Section 7.5(d). 

  
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 (e) The parties agree that irreparable damage would occur if any provision
of this Agreement were not performed in accordance with the terms hereof, and, accordingly, that the parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement or to enforce specifically the performance of the
terms and provisions hereof in the Court of Chancery of the State of Delaware, County of Newcastle, or, if that court does not have jurisdiction, any court of the United States located in the State of Delaware without proof of actual damages or
otherwise, in addition to any other remedy to which they are entitled at Law or in equity as expressly permitted in this Agreement. Each of the parties hereby further waives (i) any defense in any action for specific performance that a remedy
at Law would be adequate and (ii) any requirement under any Law to post security or a bond as a prerequisite to obtaining equitable relief. 

7.6 Notices. All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be given (and shall
be deemed to have been duly given upon receipt) by delivery in person, by email or by registered or certified mail (postage prepaid, return receipt requested) to the respective parties at the following addresses (or at such other address for a party
as shall be specified in a notice given in accordance with this Section 7.6: 
 (i) if to LOKB prior to the
Effective Time, to: 
 Live Oak Acquisition Corp. II 

40 S Main Street, Suite 2550 

Memphis, Tennessee 38103 

Attention: Rick Hendrix 
 Email:
rhendrix@liveoakmp.com 
 with a copy to: 

Vinson & Elkins L.L.P. 

1001 Fannin St. 
 Suite 2500

 Houston, TX 77002 

Attention: Sarah Morgan; John Kupiec 

Email: smorgan@velaw.com; jkupiec@velaw.com 

(ii) if to the Company or LOKB following the Effective Time, to: 

Navitas Semiconductor Limited 

22 Fitzwilliam Square South, Saint Peter’s 

Dublin, D02 FH68, Republic of Ireland 

Attention: Gene Sheridan 

Email: gene.sheridan@navitassemi.com 

  
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 with a copy to: 

DLA Piper LLP 
 555 Mission
Street, Suite 2400 
 San Francisco, CA 94105 

Attn: Jonathan Axelrad; Jeffrey C. Selman and John F. Maselli 

E-mail: Jonathan.Axelrad@us.dlapiper.com; 

Jeffrey.Selman@us.dlapiper.com and John.Maselli@us.dlapiper.com 

(iii) if to a Lock-Up Party, to the address for notice set forth on such
Lock-Up Party’s signature page to this Agreement. 
 7.7 Entire Agreement; Third-Party
Beneficiaries. This Agreement, together with the Business Combination Agreement and Transaction Documents, constitutes the entire agreement among the parties hereto with respect to the subject matter hereof and supersedes all prior agreements
and undertakings, both written and oral, among the parties hereto, or any of them, with respect to the subject matter hereof. This right Agreement shall be binding upon and inure solely to the benefit of each party, and nothing in this Agreement,
express or implied, is intended to or shall confer upon any other person any, benefit or remedy of any nature whatsoever under or by reason of this Agreement. 

7.8 Counterparts. This Agreement may be executed and delivered (including by facsimile or portable document format (pdf) transmission)
in one or more counterparts, and by the different parties in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. 

7.9 Effect of Headings. The descriptive headings contained in this Agreement are included for convenience of reference only and shall
not affect in any way the meaning or interpretation of this Agreement. 
 7.10 Legal Representation. Each of the parties hereto agrees
that it has been represented by independent counsel of its choice during the negotiation and execution of this Agreement and each party hereto and its counsel cooperated in the drafting and preparation of this Agreement and the documents referred to
herein and, therefore, waive the application of any Law, regulation, holding or rule of construction providing that ambiguities in an agreement or other document will be construed against the party hereto drafting such agreement or document. Each Lock-Up Party acknowledges that Vinson & Elkins L.L.P. is acting as counsel to LOKB and DLA Piper LLP is acting as counsel to the Company in connection with the Business Combination Agreement and the
transactions contemplated thereby, and that neither of such firms is acting as counsel to any Lock-Up Party. 

7.11 Expenses. All expenses incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the
party incurring such expenses, whether or not the Tender Offer, the Merger or any other Transaction is consummated. 
 7.12 Further
Assurances. At the request of LOKB or the Company, in the case of any Lock-Up Party, or at the request of the Lock-Up Parties, in the case of LOKB, and without
further consideration, each party shall execute and deliver or cause to be executed and delivered such additional documents and instruments and take such further action as may be reasonably necessary to consummate the transactions contemplated by
this Agreement. 

  
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 7.13 Waiver. No failure or delay on the part of any party to exercise any power,
right, privilege or remedy under this Agreement shall operate as a waiver of such power, right, privilege or remedy; and no single or partial exercise of any such power, right, privilege or remedy shall preclude any other or further exercise thereof
or of any other power, right, privilege or remedy. No party shall be deemed to have waived any claim available to such party arising out of this Agreement, or any power, right, privilege or remedy under this Agreement, unless the waiver of such
claim, power, right, privilege or remedy is expressly set forth in a written instrument duly executed and delivered on behalf of such waiving party; and any such waiver shall not be applicable or have any effect except in the specific instance in
which it is given. 
 7.14 Several Liability. The liability of the Lock-Up Parties hereunder
is several (and not joint). Notwithstanding any other provision of this Agreement, in no event will any Lock-Up Party be liable for any other Lock-Up Party’s breach
of such other Lock-Up Party’s representations, warranties, covenants, or agreements contained in this Agreement. 

7.15 No Recourse. Notwithstanding anything to the contrary contained herein or otherwise, but without limiting any provision in the
Business Combination Agreement, this Agreement may only be enforced against, and any claims or causes of action that may be based upon, arise out of or relate to this Agreement, or the negotiation, execution or performance of this Agreement or the
transactions contemplated hereby, may only be made against the entities and Persons that are expressly identified as parties to this Agreement in their capacities as such and no former, current or future stockholders, equity holders, controlling
persons, directors, officers, employees, general or limited partners, members, managers, agents or affiliates of any party hereto, or any former, current or future direct or indirect stockholder, equity holder, controlling person, director, officer,
employee, general or limited partner, member, manager, agent or affiliate of any of the foregoing (each, a “Non-Recourse Party”) shall have any liability for any obligations or
liabilities of the parties to this Agreement or for any claim (whether in tort, contract or otherwise) based on, in respect of, or by reason of, the transactions contemplated hereby or in respect of any oral representations made or alleged to be
made in connection herewith. Without limiting the rights of any party against the other parties hereto, in no event shall any party or any of its affiliates seek to enforce this Agreement against, make any claims for breach of this Agreement
against, or seek to recover monetary damages from, any Non-Recourse Party. 
 [Signature pages
follow.] 

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

			
	LIVE OAK ACQUISITION CORP. II, a Delaware corporation
		
	By:	 	 /s/ Gary Wunderlich

	Name: Gary Wunderlich
	Title: President

 Signature Page to Lock-Up Agreement 

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

			
	NAVITAS SEMICONDUCTOR LIMITED, including as domesticated in the State of Delaware as Navitas Semiconductor Ireland, LLC
		
	By:	 	 /s/ Gene Sheridan

	Name: Gene Sheridan
	Title: CEO

 Signature Page to Lock-Up Agreement 

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

			
	LOCK-UP PARTIES:
	
	SPARC SEMICONDUCTOR HK LIMITED
		
	By:	 	/s/ Lian Yongyi
	Name:	 	Lian Yongyi
	Title:	 	Director
	
	 Address for Notice:
  

E1-F10, China Sensor Network

International Innovation Park, 200, Linghu
Avenue, Xinwu District, Wuxi, the PRC 

 Signature Page to Lock-Up Agreement 

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

			
	LOCK-UP PARTIES:
	
	ATLANTIC BRIDGE III LP
		
	By:	 	/s/
	Name:
	Title:
	
	 Address for Notice:
  

31 Kildare Street
 Dublin 2, Ireland

Phone: +353 (0)1 603 4450

 Signature Page to Lock-Up Agreement 

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

			
	LOCK-UP PARTIES:
	
	GLOBAL BRIDGE CAPITAL USD FUND I, LP
		
	By:	 	/s/ JMD CHA
	Name: JMD CHA
	
	 Title:
 Acting as manager of

Global Bridge Capital Management, LLC
 in turn acting as
manager of
 Global Bridge Capital I GP, LLC
 in turn
acting as general partner of
 Global Bridge Capital USD Fund I, L.P.
  

Address for Notice:
  

525 University Ave, Suite 230
 Palo Alto, CA 94301

 Signature Page to Lock-Up Agreement 

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

			
	LOCK-UP PARTIES:
	
	HUAXING GROWTH CAPITAL III, L.P.
		
	By:	 	/s/
		 	Name:
		 	Title:
	
	 Address for Notice:
  

c/o CO Services Cayman Limited
 P.O. Box 10008

Willow House, Cricket Square
 Grand Cayman, KY1-1001

Cayman Islands

 Signature Page to Lock-Up Agreement 

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

			
	LOCK-UP PARTIES:
	
	 MALIBUIQ, LLC
 BY: MANTI
VENTURES, LLC, its Managing
 Member

		
	By:	 	 /s/ David Moxam

		 	Name: David Moxam
		 	Title: President and Secretary

  

			
	Address for Notice:
	
	 MalibulQ, LLC
 21245 Smith Road

Covington, LA 70435
 Attn: David Moxam

Phone: (985)327-5536

	
	
	
	with copies (which shall not constitute notice) to:
	
	 Manti Ventures, LLC
 Attn: James P.
Magee
 21245 Smith Road
 Covington, LA 70435

	
	
	
	and
	
	 Ellenoff Grossman & Schole LLP

1345 Avenue of the Americas, 11th Floor
 New York, New York
10105
 Attn: Matthew A. Gray, Esq.
 Facsimile No.: (212) 370-7889
 Telephone No.: (212) 370-1300

	
	

 Signature Page to Lock-Up Agreement 

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

			
	LOCK-UP PARTIES:
	
	 CAPRICORN-LIBRA INVESTMENT GROUP,

LP

		
	By:	 	 /s/ Dipender Saluja

	Name:	 	Dipender Saluja
	Title:	 	

  

			
	Address for Notice:
	
	 250 University Ave, Suite 400
 Palo
Alto, CA 94301
 Phone: 650-331-8800

	
	

 Signature Page to Lock-Up Agreement 

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

			
	 LOCK-UP PARTIES:

 
 TECHNOLOGY IMPACT FUND, L.P.

		
	By:	 	 /s/ Dipender Saluja

		 	Name: Dipender Saluja
		 	Title:
	
	 Address for Notice:
  

250 University Avenue, Suite 400
 Palo Alto, CA 94301

Phone: 650-331-8800

 

  
 Signature Page to Lock-Up Agreement 

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

			
	 LOCK-UP PARTIES:

 
 PEOPLE BETTER LIMITED

		
	By:	 	 /s/ 

		 	Name: 
		 	Title: CEO
	
	 Address for Notice:
  

Building A, Xiaomi Innovation Park, north of
 Shangdi MOMA,

Anningzhuang Road, Haidian District
 Beijing 100085 China

 

 Signature Page to Lock-Up AgreementEX-10.5

 Exhibit 10.5 

Execution Version 

SPONSOR LETTER AGREEMENT 

May 6, 2021 
 Live Oak Acquisition Corp. II

 40 South Main Street, Suite 2550 
 Memphis, TN 38103 

Re: Business Combination 
 Ladies and Gentlemen: 

Reference is made to that certain Business Combination Agreement and Plan of Reorganization (the “BCA”), dated as of
the date hereof, by and among Live Oak Acquisition Corp. II, a Delaware corporation (“LOKB”), Live Oak Merger Sub Inc., a Delaware corporation (“Merger Sub”), and Navitas Semiconductor Limited, a
private company limited by shares organized under the laws of Ireland (“Navitas Ireland”) and domesticated in the State of Delaware as Navitas Semiconductor Ireland, LLC, a Delaware limited liability company
(“Navitas Delaware” and together with Navitas Ireland, the “Company”). This letter agreement (this “Letter Agreement”) is being entered into and delivered by LOKB and Live Oak
Sponsor Partners II, LLC, a Delaware limited liability company (the “Sponsor”), in connection with the transactions contemplated by the BCA, and is acknowledged and agreed to by each of the other signatories hereto (the
“Insiders”) as the parties to the Letter Agreement entered into by the Sponsor and the other signatories hereto on December 2, 2020 (the “Prior Letter Agreement”) for purposes of amending the
Sponsor’s obligations under the Prior Letter Agreement as set forth herein effective as of the Closing. Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the BCA. 

In consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
LOKB, the Sponsor and the other parties signatory hereto hereby agree as follows: 
 1. The Sponsor represents, warrants, covenants and
agrees that: (a) it holds (and as of immediately prior to the Closing will hold) 6,325,000 shares of LOKB’s Class B common stock, par value $0.0001 per share (the “Founder Shares”), which shares collectively
constitute (and as of immediately prior to the Closing will constitute) all of the issued and outstanding Founder Shares and all of the shares of Capital Stock (as defined in the Prior Letter Agreement) held by the Sponsor; (b) the Sponsor will
comply with and perform all of its covenants, agreements and obligations set forth in the Prior Letter Agreement, as amended by this Letter Agreement, including, without limitation, voting its shares of Capital Stock in favor of the Merger, the
Tender Offer and the other Transactions and not redeeming its shares of Capital Stock in connection with such stockholder approval; and (c) the Sponsor will not take any action, or fail to take any action, inconsistent with the covenants,
agreements and obligations of LOKB under the BCA. LOKB agrees that it shall enforce its rights under this Letter Agreement and the Prior Letter Agreement, as amended by this Letter Agreement, in accordance with their terms. 

 2. Upon and subject to the Closing, the Founder Shares shall be exchanged for an equal
number of shares of LOKB’s Class A common stock, par value $0.0001 per share (such Class A common stock, the “Common Stock”, and such Founder Shares, as exchanged, the “Sponsor Common
Shares”). 
 3. Upon and subject to the Closing, 20% of the aggregate number of Sponsor Common Shares (such 20%, the
“Sponsor Earnout Shares”) shall become subject to vesting and potential forfeiture (and shall not be Transferred unless and until such Sponsor Common Shares become vested and no longer subject to forfeiture) as set forth
below: 
 a. If Triggering Event I does not occur during the Earnout Period, all of the Sponsor Earnout Shares shall be forfeited and
cancelled. Upon the occurrence of Triggering Event I, one third of the Sponsor Earnout Shares shall vest and shall no longer be subject to forfeiture. 

b. If Triggering Event I occurs during the Earnout Period, but Triggering Event II does not occur during the Earnout Period, two thirds of the
Sponsor Earnout Shares shall be forfeited and cancelled. Upon the occurrence of Triggering Event II, an additional one third of the Sponsor Earnout Shares shall vest and shall no longer be subject to forfeiture. 

c. If Triggering Event II occurs during the Earnout Period, but Triggering Event III does not occur during the Earnout Period, one third of the
Sponsor Earnout Shares shall be forfeited and cancelled. Upon the occurrence of Triggering Event III, all of the then unvested Sponsor Earnout Shares shall vest and shall no longer be subject to forfeiture. 

4. If at any time prior to the five-year anniversary of the Closing Date, there is a Change of Control pursuant to which LOKB or any of its
stockholders have the right to receive consideration implying a value of the Common Stock of greater than or equal to the price per share referenced in Triggering Event I, Triggering Event II or Triggering Event III, respectively, then Triggering
Event I, Triggering Event II or Triggering Event III, respectively, shall be deemed to have occurred and the Sponsor Earnout Shares shall vest, mutatis mutandis, in accordance with paragraph 3.a through
paragraph 3.c above. Notwithstanding anything in this Letter Agreement to the contrary, in the event that LOKB completes a liquidation, merger, capital stock exchange, reorganization or other similar transaction, following
the Closing Date, that does not result in a Change of Control but results in all of LOKB’s stockholders having the right to exchange their shares of Common Stock for cash, securities or other property, the Sponsor Earnout Shares may be so
exchanged in accordance therewith if (a) Sponsor agrees that any securities received in such exchange will remain subject to the vesting schedule contemplated by paragraph 3, mutatis mutandis and/or (b) any consideration in a form
other than securities, when taken together with all consideration, implies a value of the Common Stock of greater than or equal to the price per share referenced in Triggering Event I, Triggering Event II or Triggering Event III, respectively, and
in which event then Triggering Event I, Triggering Event II or Triggering Event III, respectively, shall be deemed to have occurred and the Sponsor Earnout Shares shall vest, mutatis mutandis. Except as expressly provided for herein, the
Sponsor Earnout Shares shall remain subject to the Prior Letter Agreement in all respects, including the restrictions on Transfer set forth in paragraph 7 thereof. 

  
 2 

 5. Upon and subject to the Closing, 80% of the aggregate number of Sponsor Common Shares
(the “Sponsor Non-Earnout Shares”) shall be subject to restrictions on Transfer as set forth below: 

a. one third of the Sponsor Non-Earnout Shares shall not be Transferred until the earlier of
(A) one year after the Closing Date or (B) if, subsequent to the Closing, the reported closing price of one share of the Common Stock quoted on the New York Stock Exchange (or the exchange on which the shares of Common Stock
are then listed) equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period
commencing at least 150 days after the Closing Date; 
 b. one third of the Sponsor Non-Earnout
Shares shall not be Transferred (A) until two years after the Closing Date or (B) if, subsequent to the Closing, the reported closing price of one share of the Common Stock quoted on the New York Stock Exchange (or the exchange on which
the shares of Common Stock are then listed) equals or exceeds $17.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any
30-trading day period commencing at least 150 days after the Closing Date, then until one year after the Closing Date; 

c. one third of the Sponsor Non-Earnout Shares shall not be Transferred (A) until three years
after the Closing Date or (B) if, subsequent to the Closing, the reported closing price of one share of the Common Stock quoted on the New York Stock Exchange (or the exchange on which the shares of Common Stock are then listed) equals or
exceeds $20.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days
after the Closing Date, then until two years after the Closing Date; 
 provided, that the restrictions on Transfer in this paragraph 5 shall be of no
further force and effect on the date (following the Closing Date) on which LOKB completes a liquidation, merger, capital stock exchange, reorganization or other similar transaction that results in all of LOKB’s stockholders having the right to
exchange their shares of Common Stock for cash, securities or other property. 
 6. Notwithstanding the provisions set forth in paragraphs 3,
4 and 5, Transfers of the Sponsor Earnout Shares and the Sponsor Non-Earnout Shares that will be held by the Sponsor or its permitted transferees (that have complied with this paragraph 6), are permitted
(a) to LOKB’s officers or directors, any affiliates or family members of any of LOKB’s officers or directors, any members of the Sponsor or any affiliates of the Sponsor; (b) in the case of an individual, by gift to a member of
such individual’s immediate family or to a trust, the beneficiary of which is a member of such individual’s immediate family, an affiliate of such individual or to a charitable organization; (c) in the case of an individual, by virtue
of laws of descent and distribution upon death of such individual; (d) in the case of an individual, pursuant to a qualified domestic relations order; or (e) by virtue of the laws of the State of Delaware or the organizational documents of
the Sponsor upon dissolution of the Sponsor; provided, however, that in the case of clauses (a) through (e), these permitted transferees must enter into a written agreement with LOKB, in form and substance reasonably acceptable to the Company,
agreeing to be bound by the transfer restrictions herein and the other restrictions contained in this Letter Agreement and by the same agreements entered into by the Sponsor with respect to such securities.

 

  
 3 

 7. Certificates or book entries representing the Sponsor Earnout Shares shall bear a legend
referencing that they are subject to forfeiture pursuant to the provisions of this Letter Agreement, and any transfer agent for the Common Stock will be given appropriate stop transfer orders with respect to the Sponsor Earnout Shares until the
occurrence of Triggering Event I, with respect to one third of the Sponsor Earnout Shares, Triggering Event II, with respect to an additional third of the Sponsor Earnout Shares, and Triggering Event III, with respect to the final third of the
Sponsor Earnout Shares (subject to the ability of the Sponsor to Transfer any Sponsor Earnout Shares in accordance with the terms of paragraphs 4 and/or 6); provided, however, that upon the occurrence of Triggering Event I, Triggering
Event II or Triggering Event III, as applicable, LOKB shall immediately cause the removal of such legend and direct such transfer agent that such stop transfer orders are no longer applicable. 

8. As used herein, “Transfer” shall mean the (a) sale or assignment of, offer to sell, contract or agreement to
sell, hypothecate, pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation with respect to or decrease of a call
equivalent position within the meaning of Section 16 of the Exchange Act and the rules and regulations of the SEC promulgated thereunder with respect to, any security, (b) entry into any swap or other arrangement that transfers to
another, in whole or in part, any of the economic consequences of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (c) public announcement of any intention to
effect any transaction specified in clause (a) or (b).
 9. Notwithstanding anything in this Letter Agreement to the contrary, the
provisions set forth in paragraphs 3 through 8 shall not be effective unless and until (and are expressly conditioned on the occurrence of) the Closing. Effective as of and conditioned on the occurrence of the Closing, the Prior Letter Agreement
shall be supplemented (and, to the extent of any inconsistent terms, amended) by the terms of paragraphs 3 through 8 of this Letter Agreement; provided, however, that for the avoidance of doubt the restrictions on Transfer set forth in paragraph 5
will entirely amend and replace the restrictions on Transfer set forth in paragraph 7 of the Prior Letter Agreement with respect to the Sponsor Non-Earnout Shares. 

10. This Letter Agreement, together with the Prior Letter Agreement, constitutes the entire agreement and understanding of the parties hereto
in respect of the subject matter hereof and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter hereof or the transactions
contemplated hereby; provided that the Prior Letter Agreement shall remain in full force and effect as amended, as of and after the Closing, hereby. This Letter Agreement may not be changed, amended, modified or waived (other than to correct
a typographical error) as to any particular provision, except by a written instrument executed by all parties hereto and the Company. 
 11.
Subject, as of and after the Closing, to paragraph 6 of this Letter Agreement, no party hereto may assign, directly or indirectly, including, through any merger, acquisition, sale of all or substantially all shares/assets or by operation of
Law, either this Letter Agreement or any of its rights, interests, or obligations hereunder without the prior written consent of the other parties. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not
operate to transfer or assign any interest or title to the purported assignee. This Letter Agreement shall be binding on the Sponsor and each Insider and their respective successors, heirs and assigns and permitted transferees. 

12. Nothing in this Letter Agreement shall be construed to confer upon, or give to, any person or corporation other than the parties hereto any
right, remedy or claim under or by reason of this Letter Agreement or of any covenant, condition, stipulation, promise or agreement hereof. 

  
 4 

 
All covenants, conditions, stipulations, promises and agreements contained in this Letter Agreement shall be for the sole and exclusive benefit of the parties hereto and their successors, heirs,
personal representatives and assigns and permitted transferees. Notwithstanding the foregoing or anything else to the contrary set forth in this Letter Agreement, the parties hereto acknowledge and agree that the Company is an express third party
beneficiary of all of the representations, warranties, covenants and agreements of each of the parties hereto set forth in this Letter Agreement, and shall be entitled to enforce such provisions in accordance with their terms against the Sponsor and
LOKB. Each of the parties hereto and the Company shall be entitled to seek and obtain equitable relief, without proof of actual damages, including an injunction or injunctions or order for specific performance to prevent breaches of this Letter
Agreement and to enforce specifically the terms and provisions of this Letter Agreement. Each party hereto further agrees that none of the parties hereto or the Company shall be required to obtain, furnish or post any bond or similar instrument in
connection with or as a condition to obtaining any remedy referred to in this paragraph 12 and each party hereto irrevocably waives any right it may have to require the obtaining, furnishing or posting of any such bond or similar instrument. 

13. This Letter Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all
purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. 
 14. This Letter
Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability of this Letter Agreement or of any other term or provision hereof. Furthermore, in lieu of
any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Letter Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid
and enforceable. 
 15. This Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of
Delaware, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The parties hereto (a) all agree that any action, proceeding, claim or dispute arising out of,
or relating in any way to, this Letter Agreement shall be brought and enforced in any Delaware Chancery Court; provided, that if jurisdiction is not then available in the Delaware Chancery Court, then any such legal action may be brought in
any federal court located in the State of Delaware or any other Delaware state court, and irrevocably submit to such jurisdiction and venue, which jurisdiction and venue shall be exclusive and (b) waive any objection to such exclusive
jurisdiction and venue or that such courts represent an inconvenient forum. 
 16. Any notice, consent or request to be given in connection
with any of the terms or provisions of this Letter Agreement shall be in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery or facsimile transmission. 

17. This Letter Agreement shall terminate on the earlier of (a) the termination of the BCA, (b) the termination of all Transfer
restrictions contained in paragraphs 3, 4 and 5 and (c) the fifth anniversary of the Closing Date. Notwithstanding the foregoing, for the avoidance of doubt, (i) in the event the BCA is terminated and the Closing does not occur, this
Letter Agreement shall terminate, but the Prior Letter Agreement shall remain in full force and effect in accordance with its terms and (ii) in the event that the Closing does occur, the terms of the Prior Letter Agreement shall nevertheless
terminate in accordance with their terms; provided, that, with respect to this clause (ii), any terms of the Prior Letter Agreement that are amended by this Letter Agreement shall survive, as so amended, until the termination of this Letter
Agreement. 
 [signature page follows] 

  
 5 

 
			
	Sincerely,
	
	LIVE OAK ACQUISITION CORP. II
		
	By:	 	 /s/ Gary Wunderlich

	Name:	 	Gary Wunderlich
	Title:	 	President
	
	LIVE OAK SPONSOR PARTNERS II, LLC
		
	By:	 	 /s/ Gary Wunderlich

	Name:	 	Gary Wunderlich
	Title:	 	Managing Member

  

			
	Acknowledged and agreed,
		
	By:	 	 /s/ Richard J. Hendrix

	Name: Richard J. Hendrix
		
	By:	 	 /s/ Andrea K. Tarbox

	Name: Andrea K. Tarbox
		
	By:	 	 /s/ Gary K. Wunderlich, Jr.

	Name: Gary K. Wunderlich, Jr.
		
	By:	 	 /s/ John P. Amboian

	Name: John P. Amboian
		
	By:	 	 /s/ Adam J. Fishman

	Name: Adam J. Fishman
		
	By:	 	 /s/ Jonathan Furer

	Name: Jonathan Furer
		
	By:	 	 /s/ Tor Braham

	Name: Tor Braham

  
 6

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