Document:

EX-10.6

 Exhibit 10.6 

Execution Version 

SUBSCRIPTION AGREEMENT 
 Live Oak
Acquisition Corp. II 
 40 South Main Street, #2550 
 Memphis,
TN 38103 
 Ladies and Gentlemen: 
 In
connection with the proposed business combination (the “Transaction”) pursuant to that certain Business Combination Agreement and Plan of Reorganization, dated as of May 6, 2021 (as the same may be amended or supplemented
from time to time, the “Transaction Agreement”), among Live Oak Acquisition Corp. II, a Delaware corporation (the “Company”), Live Oak Merger Sub Inc., a Delaware corporation and a wholly-owned direct
subsidiary of the Company (“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 “Target”), Subscriber desires to subscribe for and
purchase from the Company, and the Company desires to sell to Subscriber, that number of shares of the Company’s Class A Common Stock, par value $0.0001 per share (the “Class A Common
Stock”), set forth on the signature page hereof for a purchase price of $10.00 per share (the “Per Share Price” and the aggregate of such Per Share Price for all Shares subscribed for by the undersigned being
referred to herein as the “Purchase Price”), on the terms and subject to the conditions contained herein (this agreement, this “Subscription Agreement”). In connection with the Transaction, certain
other “qualified institutional buyers” (as defined in Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”)) and certain other institutional “accredited investors” (as defined in
Rule 501(a) under the Securities Act) have entered into separate subscription agreements with the Company in substantially the same form and on substantially the same terms as this Subscription Agreement (the “Other Subscription
Agreements”), pursuant to which such investors have, together with the undersigned pursuant to this Subscription Agreement (each such investor, including the undersigned, a “Subscriber” and together, the
“Subscribers”) agreed to purchase, severally and not jointly, an aggregate of not less than 14,500,000 shares of Class A Common Stock at the Per Share Price (the shares of Class A Common Stock subject to this
Subscription Agreement and the Other Subscription Agreements, collectively, the “Aggregate Subscribed Shares”). In connection therewith, the parties agree as follows: 

1.    Subscription. Subject to the immediately succeeding paragraph, Subscriber hereby irrevocably
subscribes for and agrees to purchase from the Company, and the Company hereby agrees to issue and sell to Subscriber upon payment of the Purchase Price, such number of shares of Class A Common Stock as is set forth on the signature page of
this Subscription Agreement (the “Shares”) on the terms and subject to the conditions provided for herein (the “Subscription”). 

2.    Closing. The closing of the Subscription contemplated hereby (the “Subscription
Closing”) is contingent upon the substantially concurrent consummation of the Transaction (the “Transaction Closing”). The Subscription Closing shall occur on the date of, and immediately prior to or
substantially concurrently with, the consummation of the Transaction Closing (the “Transaction Closing Date”). Not less than five (5) business days prior to the scheduled

 
Transaction Closing Date, the Company shall provide written notice to Subscriber (the “Closing Notice”) (i) of such scheduled Transaction Closing Date, (ii) that the
Company reasonably expects all conditions to the closing of the Transaction to be satisfied or waived and (iii) containing wire instructions for the payment of the Purchase Price. Subscriber shall deliver to the Company, at least one
(1) business day prior to the Transaction Closing Date specified in the Closing Notice,1 the Purchase Price, to be held in escrow by the Company until the Subscription Closing, by wire
transfer of United States dollars in immediately available funds to the account specified by the Company in the Closing Notice. On the Transaction Closing Date, the Company shall confirm to Subscriber in writing (it being understood that an email
confirmation is sufficient) that all conditions to the closing of the Transaction have been satisfied or waived (other than those conditions that may only be satisfied at the closing of the Transaction, but subject to the satisfaction and waiver of
such conditions as of the closing of the Transaction) and deliver to Subscriber against (and concurrently with) the payment of the Purchase Price of (i) the Shares in book-entry form, free and clear of any liens or other restrictions whatsoever
(other than those arising under state or federal securities laws or as set forth herein), registered in the name of Subscriber (or its nominee in accordance with its delivery instructions) or to a custodian designated by Subscriber, as applicable,
and (ii) a certification of the Company’s transfer agent (the “Transfer Agent”) confirming the issuance and delivery of the Shares to the Subscriber (or such nominee or custodian) on and as of the Transaction
Closing Date. For purposes of this Subscription Agreement, “business day” shall mean any day other than Saturday, Sunday or such other days on which banks located in New York, New York, Hong Kong and the People’s Republic of China are
required or authorized by applicable law to be closed for business. Upon delivery of the Shares to Subscriber (or its nominee or custodian, if applicable), the Purchase Price may be released by the Company from escrow. 

If the Transaction Closing does not occur within two (2) business days following the scheduled Transaction Closing Date specified in the
Closing Notice, the Company shall promptly (but not later than three (3) business days following the scheduled Transaction Closing Date specified in the Closing Notice) return the Purchase Price to Subscriber by wire transfer of U.S. dollars in
immediately available funds to the account specified by Subscriber and any book-entries shall be cancelled; provided, that unless this Subscription Agreement has been validly terminated 

 

	1 	 For any Subscriber that is an investment company registered under the Investment Company Act of 1940 (the
“Investment Company Act”) or that is advised by an investment adviser subject to regulation under the Investment Advisers Act of 1940 (the “Investment Advisers Act”), substitute the following closing mechanics in lieu of
those described in the fourth and fifth sentences of this Section 2: “Subscriber shall initiate funding of the Purchase Price to the Company by no later than 8:00 a.m. New York City time on the Closing Date, via wire transfer of U.S.
dollars in immediately available funds to the account specified by the Issuer in the Closing Notice; provided, that the Subscriber shall not be obligated to initiate funding of the Purchase Price or consummate the Subscription Closing until
the Company has delivered to the Subscriber (i) the Shares in book entry form, free and clear of any liens or other restrictions whatsoever (other than those arising under state or federal securities laws), in the name of Subscriber (or its nominee
in accordance with its delivery instructions) or to a custodian designated by Subscriber, as applicable, and (ii) a copy of the records of, or correspondence from, the Company’s transfer agent reflecting Subscriber as the owner of the Shares on
and as of the Closing Date or the business day immediately preceding the Closing Date, as applicable. In the event the Purchase Price has not been delivered within one (1) business day of the issuance of the Shares, such issuance shall be deemed to
be null and void and the Company shall promptly reverse and cancel any book entries reflecting the issuance of the Shares.” 

 
pursuant to Section 8 of this Subscription Agreement, neither the failure of the Subscription Closing to occur on the scheduled Transaction Closing Date specified in the
Closing Notice nor such return of funds shall (x) terminate this Subscription Agreement, (y) be deemed a failure of any of the conditions to the Subscription Closing set forth in Section 3 of this Subscription
Agreement to be satisfied (or capable of being satisfied) or (z) otherwise relieve any party of its obligations under this Subscription Agreement, including Subscriber’s obligation to redeliver the Purchase Price and purchase the Shares at
the Subscription Closing in the event the Company delivers a subsequent Closing Notice. 
 Each book entry for the Shares shall contain a
notation, and each certificate (if any) evidencing the Shares shall be stamped or otherwise imprinted with a legend, in substantially the following form: 

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS
OF ANY STATE OR OTHER JURISDICTION, AND MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION THEREFROM. 

3.    Closing Conditions. 

(a)    The obligations of the Company to consummate the transactions contemplated hereunder are subject to
the satisfaction (or valid waiver by the Company in writing) of the conditions that, at the Subscription Closing: 
  

	 	(i)	 all representations and warranties of Subscriber contained in this Subscription Agreement shall be true and
correct in all material respects (other than representations and warranties that are qualified as to materiality or Subscriber Material Adverse Effect (as defined herein), which representations and warranties shall be true and correct in all
respects) at and as of the Subscription Closing, and consummation of the Subscription Closing shall constitute a reaffirmation by Subscriber of each of the representations, warranties and agreements of such party contained in this Subscription
Agreement as of the Subscription Closing; and 

  

	 	(ii)	 Subscriber shall have performed, satisfied and complied in all material respects with all covenants, agreements
and conditions required by this Subscription Agreement to be performed, satisfied or complied with by it at or prior to the Subscription Closing, except where the failure of such performance, satisfaction or compliance would not or would not
reasonably be expected to prevent, materially delay, or materially impair the ability of Subscriber to consummate the Subscription Closing. 

 (b)    The obligations of Subscriber to consummate the
transactions contemplated hereunder are subject to the satisfaction (or valid waiver by Subscriber in writing) of the conditions that, at the Subscription Closing: 
  

	 	(i)	 all representations and warranties of the Company contained in this Subscription Agreement shall be true and
correct in all material respects (other than representations and warranties that are qualified as to materiality or Company Material Adverse Effect (as defined herein), which representations and warranties shall be true and correct in all respects)
at and as of the Subscription Closing, and consummation of the Subscription Closing shall constitute a reaffirmation by the Company of each of the representations, warranties and agreements of such party contained in this Subscription Agreement as
of the Subscription Closing; provided, that in the event this condition would otherwise fail to be satisfied as a result of a breach of one or more of the representations and warranties of the Company contained in this Subscription Agreement
and the facts underlying such breach would also cause a condition to Target’s obligations under the Transaction Agreement to fail to be satisfied, this condition shall nevertheless be deemed satisfied in the event Target waives such condition
with respect to such breach under the Transaction Agreement; 

  

	 	(ii)	 the Company shall have performed, satisfied and complied in all material respects with all covenants,
agreements and conditions required by this Subscription Agreement to be performed, satisfied or complied with by it at or prior to the Subscription Closing, except where the failure of such performance, satisfaction or compliance would not or would
not reasonably be expected to prevent, materially delay, or materially impair the ability of the Company to consummate the Subscription Closing; 

  

	 	(iii)	 the Transaction Agreement (as the same exists on the date of this Subscription Agreement) shall not have been
terminated, rescinded or rendered invalid, illegal or unenforceable by law or otherwise without the Transaction being consummated, and the terms of the Transaction Agreement shall not have been amended or modified in a manner that would materially
adversely affect the economic benefits that Subscriber would reasonably expect to receive under this Subscription Agreement without having received Subscriber’s prior written consent to such amendment or modification (such consent not to be
unreasonably withheld, conditioned or delayed); 

  

	 	(iv)	 there shall have been no amendment, waiver, or modification to the Other Subscription Agreements that
materially benefits any Subscriber other than the undersigned unless the undersigned has been offered substantially the same benefits; and 

	 	(v)	 there shall have been no suspension of the qualification of the Shares for offering or sale or trading in any
jurisdiction, or initiation or threatening of any proceeding for any such purposes. 

(c)    The obligations of each of the Company and Subscriber to consummate the transactions contemplated
hereunder are subject to the satisfaction (or waiver by the Company and Subscriber in writing) of the conditions that, at the Subscription Closing: 
  

	 	(i)	 no governmental authority shall have enacted, issued, promulgated, enforced or entered any judgment, order,
law, rule or regulation (whether temporary, preliminary or permanent) which is then in effect and has the effect of making consummation of the transactions contemplated hereby illegal or otherwise prohibiting consummation of the transactions
contemplated hereby, and no governmental authority shall have instituted or threatened in writing a proceeding seeking to impose any such prohibition; and 

  

	 	(ii)	 all conditions precedent to the closing of the Transaction set forth in the Transaction Agreement, including
all necessary approvals of the Company’s stockholders and regulatory approvals, if any, shall have been satisfied (as determined by the parties to the Transaction Agreement) or waived in writing by the party entitled to the benefit thereof
under the Transaction Agreement (other than those conditions that may only be satisfied at the closing of the Transaction (including to the extent that any such condition is dependent upon the consummation of the purchase and sale of the Shares
pursuant to this Subscription Agreement), but subject to the satisfaction or waiver of such conditions as of the closing of the Transaction). 

4.    IRS Form W-9; Further Assurances. At or prior to the
Subscription Closing, upon the Company’s request, Subscriber shall provide the Company with a properly completed and duly executed IRS Form W-9 or applicable IRS Form
W-8, as appropriate. At or prior to the Subscription Closing, the parties hereto shall execute and deliver such additional documents and take such additional actions as the parties hereto mutually and
reasonably may deem to be practical and necessary in order to consummate the Subscription as contemplated by this Subscription Agreement. 

 5.    Company Representations and Warranties. The Company
represents and warrants to Subscriber that: 
 (a)    The Company has been duly incorporated, is validly
existing and is in good standing under the laws of the State of Delaware, with the requisite corporate power and authority to own, lease and operate its properties and conduct its business as presently conducted and to enter into, deliver and
perform its obligations under this Subscription Agreement. 
 (b)    As of the Transaction Closing Date,
the Shares will be duly authorized and, when issued and delivered to Subscriber against full payment therefor in accordance with the terms of this Subscription Agreement, the Shares will be validly issued, fully paid and non-assessable and will not have been issued in violation of or subject to any preemptive or similar rights created under the Company’s Amended and Restated Certificate of Incorporation, by-laws of the Company or under the laws of the State of Delaware. 

(c)    The Shares are not, and following the Transaction Closing and the Subscription Closing will not be,
subject to any Transfer Restriction. The term “Transfer Restriction” means any condition to or restriction on the ability of Subscriber to pledge, sell, assign or otherwise transfer the Shares under any organizational
document, policy or agreement of, by or with the Company, but excluding the restrictions on transfer described in Section 6(f) of this Subscription Agreement with respect to the status of the Shares as “restricted
securities” pending their registration for resale under the Securities Act in accordance with the terms of this Subscription Agreement. 

(d)    This Subscription Agreement has been duly authorized, executed and delivered by the Company and is
the valid and legally binding obligation of and enforceable against the Company in accordance with its terms, except as may be limited or otherwise affected by limitations on enforcement and other remedies imposed by or arising under or in
connection with applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium, and other similar laws relating to or affecting creditors’ rights generally from time to time in effect or general principles of equity
(including concepts of materiality, reasonableness, good faith, and fair dealing with respect to those jurisdictions that recognize such concepts) (the “Enforceability Limitations”). 

(e)    The execution, delivery and performance of this Subscription Agreement, the issuance and sale of the
Shares and the compliance by the Company with all of the provisions of this Subscription Agreement and the consummation of the transactions contemplated hereby do not and will not conflict with or result in a breach or violation of any of the terms
or provisions of, or constitute a default under, or result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of the Company pursuant to the terms of (i) any indenture, mortgage, deed of trust,
loan agreement, lease, license or other agreement or instrument to which the Company or Merger Sub is a party or by which the Company or Merger Sub is bound or to which any of the properties or assets of the Company is subject, which would
reasonably be expected to have a material adverse effect on the business, properties, financial condition, stockholders’ equity or results of operations of the Company or materially affect the validity of the Shares or the legal authority of
the Company to comply in all material 

 
respects with the terms of this Subscription Agreement (a “Company Material Adverse Effect”); (ii) the provisions of the organizational documents of the Company; or
(iii) any statute or any judgment, order, rule or regulation of any court or governmental agency or body, domestic or foreign, having jurisdiction over the Company or any of its properties that would have a Company Material Adverse Effect. 

(f)    Assuming the accuracy of the representations and warranties of the Subscriber, the Company is not
required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental authority, self-regulatory organization or other person in
connection with the execution, delivery and performance of this Subscription Agreement (including, without limitation, the issuance of the Shares), other than (i) filings with the Securities and Exchange Commission (the
“Commission”) including the filing of the Registration Statement pursuant to Section 7 below, (ii) filings required by applicable state securities laws, (iii) filings required by the New York Stock
Exchange (“NYSE”), including with respect to obtaining Company stockholder approval, (iv) those required to consummate the Transaction as provided under the Transaction Agreement, (v) the filing of notification
under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, if applicable, (vi) consents, waivers, authorizations or filings that have been obtained, made or given, as applicable, on or prior to the Subscription Closing, and
(vii) where the failure of which to obtain, make or give would not be reasonably likely to have a Company Material Adverse Effect or have a material adverse effect on the Company’s ability to consummate the transactions contemplated
hereby, including the issuance and sale of the Shares. 
 (g)    The Company is in compliance with all
applicable law, except where such non-compliance would not be reasonably likely to have a Company Material Adverse Effect. The Company has not received any written, or to its knowledge, other communication
from a governmental entity that alleges that the Company is not in compliance with or is in default or violation of any applicable law, except where such non-compliance, default or violation would not be
reasonably likely to have, individually or in the aggregate, a Company Material Adverse Effect. 

(h)    As of the date of this Subscription Agreement, the issued and outstanding shares of Class A
Common Stock are registered pursuant to Section 12(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and are listed for trading on NYSE under the symbol “LOKB” (it being understood
that the trading symbol will be changed in connection with the Transaction Closing). Except as disclosed in the SEC Documents (as defined below), there is no suit, action, proceeding or investigation pending or, to the knowledge of the Company,
threatened against the Company by NYSE or the Commission to prohibit or terminate the listing of the Class A Common Stock on NYSE or to deregister the Class A Common Stock under the Exchange Act. The Company has taken no action that is
designed to terminate the registration of the Class A Common Stock under the Exchange Act. 

 (i)    Assuming the accuracy of all of Subscriber’s
representations and warranties set forth in Section 6 of this Subscription Agreement, no registration under the Securities Act is required for the offer and sale of the Shares by the Company to Subscriber. 

(j)    A copy of each form, report, statement, schedule, prospectus, proxy, registration statement and
other document, if any, required to be filed by the Company with the Commission since its initial registration of the Class A Common Stock under the Exchange Act (the “SEC Documents”) is available to Subscriber via the
Commission’s EDGAR system. None of the SEC Documents contained, when filed or, if amended, as of the date of such amendment with respect to those disclosures that are amended, any untrue statement of a material fact or omitted to state a
material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, that with respect to the information about the Company’s
affiliates contained in the Registration Statement on Form S-4 and/or Schedule 14A and related proxy materials (or other SEC Document) to be filed by the Company, the representation and warranty in this
sentence is made to the Company’s knowledge; provided, further, that the Company makes no such representation or warranty with respect to the accounting treatment of its warrants, and related disclosure, in the SEC Documents, including with
respect to the matters described in the Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies by the Commission made on April 12, 2021, and any consequences thereof or actions taken by
the Company directly in response thereto. The Company has timely filed each report, statement, schedule, prospectus, and registration statement that the Company was required to file with the Commission since its initial registration of the
Class A Common Stock under the Exchange Act. There are no material outstanding or unresolved comments in comment letters from the staff of the Division of Corporation Finance (the “Staff”) of the Commission with respect
to any of the SEC Documents. 
 (k)    As of the date of this Subscription Agreement, the authorized
capital stock of the Company consists of (i) 110,000,000 shares of the Company’s common stock, par value $0.0001 per share, with (A) 100,000,000 shares being designated as Class A Common Stock and (B) 10,000,000 shares being designated as
Class B Common Stock (“Class B Common Stock”), and (ii) 1,000,000 shares of preferred stock, par value $0.0001 per share (“Preferred Stock”). As of the date of
this Subscription Agreement, (i) 25,300,000 shares of Class A Common Stock and 6,325,000 shares of Class B Common Stock are issued and outstanding, all of which are validly issued, fully paid and
non-assessable and not subject to any preemptive rights, (ii) no shares of the Company’s common stock are held in the treasury of the Company, (iii) 4,666,667 private placement warrants (the
“Private Placement Warrants”) are issued and outstanding and 4,666,667 shares of Class A Common Stock are issuable in respect of such Private Placement Warrants, and (iv) 8,433,334 public warrants (the “Public
Warrants”) are issued and outstanding and 8,433,334 shares of Class A Common Stock are issuable in respect of such Public Warrants. As of the date of this Subscription Agreement, there are no shares of Preferred Stock issued and
outstanding. Each Private Placement Warrant and Public 

 
Warrant is exercisable for one share of Class A Common Stock at an exercise price of $11.50. As of the date of this Subscription Agreement, other than Merger Sub, the Company has no
subsidiaries and does not own, directly or indirectly, interests or investments (whether equity or debt) in any person, whether incorporated or unincorporated. Except for such matters as have not had, individually or in the aggregate, a Company
Material Adverse Effect, as of the date hereof there is no (i) action, suit, claim or other proceeding, in each case by or before any governmental authority pending, or, to the knowledge of the Company, threatened against the Company or
(ii) judgment, decree, injunction, ruling or order of any governmental entity or arbitrator outstanding against the Company. 

(l)    Neither the Company, nor any person acting on its behalf has, directly or indirectly, made any
offers or sales of any Company security or solicited any offers to buy any security under circumstances that would adversely affect reliance by the Company on Section 4(a)(2) of the Securities Act for the exemption from registration for the
transactions contemplated hereby or would require registration of the issuance of the Shares under the Securities Act. 

(m)    Other than the Other Subscription Agreements, the Company has not entered into any side letter or
similar agreement with any Subscriber in connection with such Subscriber’s direct or indirect investment in the Company, and no Other Subscription Agreement includes terms and conditions that are materially more advantageous to any such other
Subscriber than Subscriber hereunder. The Other Subscription Agreements have not been amended in any material respect following the date of this Subscription Agreement and reflect the same Per Share Price and terms that are no more favorable in any
material respect to such Subscriber thereunder than the terms of this Subscription Agreement. 

(n)    The Company is not, and immediately after receipt of payment of the Purchase Price, will not be, an
“investment company” within the meaning of the Investment Company Act of 1940, as amended. 

(o)    The Company has not entered into any agreement or arrangement entitling any agent, broker,
investment banker, financial advisor or other person to any broker’s or finder’s fee or any other commission or similar fee in connection with the transactions contemplated by this Subscription Agreement for which Subscriber could become
liable. Other than the Placement Agents (as defined below), the Company is not aware of any person that has been or will be paid (directly or indirectly) remuneration for solicitation of purchasers in connection with the sale of any Shares in this
offering. 
 6.    Subscriber Representations and Warranties. Subscriber represents and warrants to the
Company that: 
 (a)    Subscriber has been duly formed or incorporated and is validly existing and in
good standing under the laws of its jurisdiction of incorporation or formation, with power and authority to enter into, deliver and perform its obligations under this Subscription Agreement. 

 (b)    This Subscription Agreement has been duly
authorized, validly executed and delivered by Subscriber. This Subscription Agreement is enforceable against Subscriber in accordance with its terms, except as may be limited or otherwise affected by the Enforceability Limitations. 

(c)    The execution, delivery and performance by Subscriber of this Subscription Agreement and the
consummation of the transactions contemplated herein do not and will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, or result in the creation or imposition of any
lien, charge or encumbrance upon any of the property or assets of Subscriber or any of its subsidiaries pursuant to the terms of any indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement or instrument to which
Subscriber or any of its subsidiaries is a party or by which Subscriber or any of its subsidiaries is bound or to which any of the property or assets of Subscriber or any of its subsidiaries is subject, which would reasonably be expected to prevent
or delay Subscriber’s timely performance of its obligations under this Subscription Agreement (a “Subscriber Material Adverse Effect”), (ii) if Subscriber is not an individual, result in any violation of the provisions
of the organizational documents of Subscriber or any of its subsidiaries or (iii) result in any violation of any statute or any judgment, order, rule or regulation of any court or governmental agency or body, domestic or foreign, having
jurisdiction over Subscriber or any of its subsidiaries or any of their respective properties that would reasonably be expected to have a Subscriber Material Adverse Effect. 

(d)    Subscriber is (i) a “qualified institutional buyer” (as defined in Rule 144A under
the Securities Act) or (ii) an institutional “accredited investor” (within the meaning of Rule 501(a) under the Securities Act), in each case, satisfying the requirements set forth on Schedule A hereto, and is acquiring the
Shares only for its own account and not for the account of others, and not on behalf of any other account or person or with a view to, or for offer or sale in connection with, any distribution thereof in violation of the Securities Act (and shall
provide the requested information on Schedule A hereto following the signature page hereto). Subscriber is not an entity formed for the specific purpose of acquiring the Shares. 

(e)    Subscriber (i) is an institutional account as defined in FINRA Rule 4512(c), (ii) is a
sophisticated investor, experienced in investing in private equity transactions and capable of evaluating investment risks independently, both in general and with regard to all transactions and investment strategies involving a security or
securities and (iii) has exercised independent judgment in evaluating its participation in the purchase of the Shares. 

(f)    Subscriber understands that the Shares are being offered in a transaction not involving any public
offering within the meaning of the Securities Act and that the Shares 

 
have not been registered under the Securities Act. Subscriber understands that the Shares may not be resold, transferred, pledged or otherwise disposed of by Subscriber absent an effective
registration statement under the Securities Act, except (i) to the Company or a subsidiary thereof, (ii) to non-U.S. persons pursuant to offers and sales that occur outside the United States within
the meaning of Regulation S under the Securities Act or (iii) pursuant to another applicable exemption from the registration requirements of the Securities Act, and, in each of cases (i) and (iii), in accordance with any applicable
securities laws of the states and other jurisdictions of the United States, and that any certificates or book-entry positions representing the Shares shall contain a legend to such effect. Subscriber acknowledges that the Shares will not be eligible
for resale pursuant to Rule 144A promulgated under the Securities Act. Subscriber understands and agrees that the Shares will be subject to the foregoing transfer restrictions and, as a result of these transfer restrictions, Subscriber may not be
able to readily resell the Shares and may be required to bear the financial risk of an investment in the Shares for an indefinite period of time. Subscriber understands that it has been advised to consult legal counsel prior to making any offer,
resale, pledge or transfer of any of the Shares. 
 (g)    Subscriber understands and agrees that
Subscriber is purchasing the Shares directly from the Company. Subscriber further acknowledges that there have been no representations, warranties, covenants and agreements made to Subscriber by or on behalf of the Company, Target, or the
Company’s or Target’s respective affiliates, subsidiaries, control persons, officers, directors, employees, partners, agents or representatives, or any other party to the Transaction or any other person or entity, expressly or by
implication (including by omission), other than those representations, warranties, covenants and agreements included in this Subscription Agreement, and all other purported representations, warranties, covenants, agreements or statements (including
by omission) are hereby disclaimed by Subscriber. Subscriber acknowledges that certain information provided by the Company was based on projections, and such projections were prepared based on assumptions and estimates that are inherently uncertain
and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the projections. 

(h)    Either (i) Subscriber is not a Benefit Plan Investor as contemplated by the Employee Retirement
Income Security Act of 1974, as amended (“ERISA”), or (ii) Subscriber’s acquisition and holding of the Shares will not constitute or result in a non-exempt prohibited
transaction under Section 406 of ERISA, Section 4975 of the Internal Revenue Code of 1986, as amended, or any applicable similar law. 

(i)    In making its decision to purchase the Shares, Subscriber represents that it has relied solely upon
independent investigation made by Subscriber and the Company’s representations, warranties and covenants contained herein. Without limiting the generality of the foregoing, Subscriber has not relied on any statements or other information
provided by anyone other than the Company concerning the Company, the Target or the Shares or the offer and sale of the Shares. Subscriber acknowledges and agrees that Subscriber has 

 
received and has had an adequate opportunity to review, such financial and other information as Subscriber deems necessary in order to make an investment decision with respect to the Shares,
including with respect to the Company, the Target and the Transaction and made its own assessment and is satisfied concerning the relevant tax and other economic considerations relevant to the Subscriber’s investment in the Shares. Subscriber
acknowledges that it has reviewed the documents made available to the Subscriber by the Company. Subscriber represents and agrees that Subscriber and Subscriber’s professional advisor(s), if any, have had the full opportunity to ask such
questions, receive such answers and obtain such information as Subscriber and such Subscriber’s professional advisor(s), if any, have deemed necessary to make an investment decision with respect to the Shares. Subscriber acknowledges that the
Placement Agents (as defined below) and their directors, officers, employees, representatives and controlling persons have made no independent investigation with respect to the Company, the Target or the Shares or the accuracy, completeness or
adequacy of any information supplied to the Subscriber by the Company or the Target. Subscriber acknowledges that (i) it has not relied on any statements or other information provided by Jefferies LLC or BofA Securities, Inc. each acting as a
placement agent to the Company (each, a “Placement Agent” and collectively, the “Placement Agents”) or any affiliate of either of the Placement Agents with respect to its decision to invest in the Shares,
including information related to the Company, the Target, the Shares and the offer and sale of the Shares, and (ii) neither of the Placement Agents nor any of their respective affiliates have prepared any disclosure or offering document in
connection with the offer and sale of the Shares. Subscriber further acknowledges that the information provided to Subscriber is preliminary and subject to change, and that any changes to such information, including, without limitation, any changes
based on updated information or changes in terms of the Transaction, shall in no way affect the Subscriber’s obligation to purchase the Shares hereunder. 

(j)    Subscriber became aware of this offering of the Shares solely by means of direct contact between
Subscriber and the Company, either or both of the Placement Agents, Target or its subsidiaries and/or their respective advisors (including, without limitation, attorneys, accountants, bankers, consultants and financial advisors), agents, control
persons, representatives, affiliates, directors, officers, managers, members, and/or employees, and/or the representatives of such persons (such parties referred to collectively as “Representatives”). The Shares were offered
to Subscriber solely by direct contact between Subscriber and the Company, either or both of the Placement Agents, Target or its subsidiaries and/or their respective Representatives. Subscriber acknowledges that it is not relying upon, and has not
relied upon, any statement, representation or warranty made by any person or entity (including, without limitation, the Company, each Placement Agent, Target and/or their respective Representatives), other than the representations and warranties
expressly set forth in this Subscription Agreement, in making its investment or decision to invest in the Company. Subscriber did not become aware of this offering of the Shares, nor were the Shares offered to Subscriber, by any other means, and
none of the Company, either Placement Agent, Target or its subsidiaries or their respective Representatives acted as investment advisor, broker or dealer to Subscriber. The Company 

 
represents and warrants that the Shares (i) were not offered by any form of general solicitation or general advertising, including methods described in Section 502(c) of Regulation D
under the Securities Act and (ii) are not being offered in a manner involving a public offering under, or in a distribution in violation of, the Securities Act, or any state securities laws. 

(k)    Subscriber acknowledges that it is aware that there are substantial risks incident to the purchase
and ownership of the Shares. Subscriber is able to fend for itself in the transactions completed herein, has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of an investment in the
Shares and has the ability to bear the economic risks of such investment in the Shares and can afford a complete loss of such investment. Subscriber has sought such accounting, legal and tax advice as Subscriber has considered necessary to make an
informed investment decision. Subscriber understands and acknowledges that the purchase and sale of the Shares hereunder meets (i) the exemptions from filing under FINRA Rule 5123(b)(1)(A) and (ii) the institutional customer exemption
under FINRA Rule 2111(b). 
 (l)    Subscriber understands and agrees that no federal or state agency has
passed upon or endorsed the merits of the offering of the Shares or made any findings or determination as to the fairness of this investment. 

(m)    Subscriber is not (i) a person or entity named on the List of Specially Designated Nationals
and Blocked Persons administered by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) or in any Executive Order issued by the President of the United States and administered by OFAC
(“OFAC List”), or a person or entity prohibited by any OFAC sanctions program, (ii) a Designated National as defined in the Cuban Assets Control Regulations, 31 C.F.R. Part 515, or (iii) a non-U.S. shell bank or providing banking services indirectly to a non-U.S. shell bank (collectively, a “Prohibited Investor”). Subscriber agrees to
provide law enforcement agencies, if requested thereby, such records as required by applicable law, provided that Subscriber is permitted to do so under applicable law. If Subscriber is a financial institution subject to the Bank Secrecy Act (31
U.S.C. Section 5311 et seq.) (the “BSA”), as amended by the USA PATRIOT Act of 2001 (the “PATRIOT Act”), and its implementing regulations (collectively, the “BSA/PATRIOT
Act”), Subscriber maintains policies and procedures reasonably designed to comply with applicable obligations under the BSA/PATRIOT Act. To the extent required, it maintains policies and procedures reasonably designed for the screening
of its investors against the OFAC sanctions programs, including the OFAC List. To the extent required, it maintains policies and procedures reasonably designed to ensure that the funds held by Subscriber and used to purchase the Shares were legally
derived. 
 (n)    In connection with the issue and purchase of the Shares, the Placement Agents have not
acted as Subscriber’s financial advisor or fiduciary. 
 (o)    If Subscriber is an employee benefit
plan that is subject to Title I of ERISA, a plan, an individual retirement account or other arrangement that is subject to Section 4975 

 
of the Code or an employee benefit plan that is a governmental plan (as defined in Section 3(32) of ERISA), a church plan (as defined in Section 3(33) of ERISA), a non-U.S. plan (as described in Section 4(b)(4) of ERISA) or other plan that is not subject to the foregoing but may be subject to provisions under any other federal, state, local,
non-U.S. or other laws or regulations that are similar to such provisions of ERISA or the Internal Revenue Code of 1986, as amended, or an entity whose underlying assets are considered to include “plan
assets” of any such plan, account or arrangement (each, a “Plan”) subject to the fiduciary or prohibited transaction provisions of ERISA or Section 4975 of the Code, the Subscriber represents and warrants that
neither the Company nor any of its affiliates (the “Company Parties”) has acted as the Plan’s fiduciary, or has been relied on for advice, with respect to its decision to acquire and hold the Shares, and none of the
Company Parties shall at any time be relied upon as the Plan’s fiduciary with respect to any decision to acquire, continue to hold or transfer the Shares. 

(p)    Subscriber has or has enforceable commitments to have, and at least one (1) business day prior
to the Transaction Closing Date specified in the Closing Notice will have, sufficient funds to pay the Purchase Price and consummate the Subscription Closing when required pursuant to this Subscription Agreement. 

(q)    Subscriber is not currently (and at all times through Subscription Closing will refrain from being
or becoming) a member of a “group” (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, or any successor provision) acting for the purpose of acquiring, holding or disposing of equity securities of the
Company (within the meaning of Rule 13d-5(b)(1) under the Exchange Act), other than a group consisting solely of Subscriber and other entities under common control. 

(r)    Subscriber hereby agrees that, from the date of this Subscription Agreement until the Transaction
Closing Date, neither Subscriber nor any person or entity acting on behalf of Subscriber or pursuant to any understanding with Subscriber will engage in any Short Sales with respect to securities of the Company. For purposes of this
Section 6(s), “Short Sales” shall include, without limitation, all “short sales” as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act, and all types of direct and
indirect stock pledges (other than pledges in the ordinary course of business as part of prime brokerage or other similar financing arrangements), forward sale contracts, options, puts, calls, swaps and similar arrangements (including on a total
return basis), and sales and other transactions through non-U.S. broker dealers or foreign regulated brokers. For the avoidance of doubt, nothing contained herein shall prohibit Subscriber from engaging in
(i) any purchase of securities by Subscriber, its controlled affiliates or any person or entity acting on behalf of Subscriber or any of its controlled affiliates in an open market transaction after the execution of this Subscription Agreement,
or (ii) any sale (including the exercise of any redemption right) of securities of the Company (A) held by the Subscriber, its controlled affiliates or any person or entity acting on behalf of Subscriber or any of its controlled affiliates
prior to the execution of this Subscription Agreement or (B) purchased by Subscriber, its controlled affiliates or any person or entity acting on 

 
behalf of Subscriber or any of its controlled affiliates in an open market transaction after the execution of this Subscription Agreement. Notwithstanding the foregoing, (i) nothing herein
shall prohibit other entities under common management with Subscriber that have no knowledge of this Subscription Agreement or of Subscriber’s participation in the Subscription (including Subscriber’s controlled affiliates and/or
affiliates) from entering into any Short Sales and (ii) in the case of a Subscriber that is a multi-managed investment vehicle whereby separate portfolio managers manage separate portions of such Subscriber’s assets and the portfolio
managers have no knowledge of the investment decisions made by the portfolio managers managing other portions of such Subscriber’s assets, the representation set forth above shall only apply with respect to the portion of assets managed by the
portfolio manager that made the investment decision to purchase the Shares covered by this Subscription Agreement. 

7.    Registration Rights. 

(a)    The Company agrees that it will, within thirty (30) calendar days after the Transaction Closing
(the “Filing Deadline”), file with the Commission (at the Company’s sole cost and expense) a registration statement (the “Registration Statement”) registering under the Securities Act the resale
of all the Shares, and the Company shall use its commercially reasonable efforts to have the Registration Statement declared effective as soon as practicable after the filing thereof, but no later than the earlier of (i) the 60th calendar day
(or 90th calendar day if the Commission notifies the Company that it will “review” the Registration Statement) following the Filing Deadline and (ii) the 10th business day after the
date the Company is notified (orally or in writing, whichever is earlier) by the Commission that the Registration Statement will not be “reviewed” or will not be subject to further review (such earlier date, the “Effectiveness
Date”); provided, however, that the Company’s obligations to include the Shares in the Registration Statement are contingent upon Subscriber furnishing in writing to the Company such information regarding Subscriber,
the securities of the Company held by Subscriber and the intended method of disposition of the Shares as shall be reasonably requested by the Company to effect the registration of the Shares, and Subscriber shall execute such documents in connection
with such registration as the Company may reasonably request that are customary of a selling stockholder in similar situations, including providing that the Company shall be entitled to postpone and suspend the effectiveness or use of the
Registration Statement during any customary blackout or similar period or as permitted hereunder; provided, further, that Subscriber shall not in connection with the foregoing be required to execute any
lock-up or similar agreement or otherwise be subject to any contractual restriction on the ability to transfer the Shares. The Company will provide a draft of the Registration Statement to the Subscriber for
review at least two (2) business days in advance of filing the Registration Statement. In no event shall the Subscriber be identified as a statutory underwriter in the Registration Statement unless requested by the Commission; provided,
that if the Commission requests that the Subscriber be identified as a statutory underwriter in the Registration Statement, the Subscriber will have an opportunity to withdraw its Shares from the Registration Statement. Notwithstanding the

 
foregoing, if the Commission prevents the Company from including any or all of the shares of Class A Common Stock proposed to be registered under the Registration Statement due to
limitations on the use of Rule 415 under the Securities Act for the resale of the shares of Class A Common Stock held by Subscriber or any other Subscriber or otherwise, such Registration Statement shall register for resale such number of
shares of Class A Common Stock which is equal to the maximum number of shares of Class A Common Stock as is permitted by the Commission. In such event, the number of shares of Class A Common Stock to be registered for each selling
stockholder named in the Registration Statement shall be reduced pro rata among all such selling stockholders. Except for such times as the Company is permitted hereunder to suspend the use of the Registration Statement or the prospectus forming a
part thereof, until the earliest of (i) the date on which the Shares held by Subscriber may be sold without restriction under Rule 144 promulgated under the Securities Act (“Rule 144”), including without limitation, any
volume and manner of sale restrictions which may be applicable to affiliates under Rule 144 and without the requirement for the Company to be in compliance with the current public information required under Rule 144(c)(1) or Rule 144(i)(2), as
applicable, (ii) the date on which Subscriber ceases to hold such Shares and (iii) the date which is two years after the Effectiveness Date, the Company will use its commercially reasonable efforts to maintain the continuous effectiveness
of the Registration Statement, file all reports as required by the Exchange Act, provide all customary and reasonable cooperation necessary to enable Subscriber to resell the Shares pursuant to the Registration Statement or Rule 144, as applicable,
qualify the Shares for listing on the applicable stock exchange on which the Class A Common Stock is then listed, update or amend the Registration Statement as necessary to include the Shares and provide customary notice to holders of the
Shares. For purposes of clarification, any failure by the Company to file the Registration Statement by the Filing Deadline or to have such Registration Statement declared effective by the Effectiveness Date shall not otherwise relieve the Company
of its obligations to file or effect the Registration Statement set forth in this Section 7. 

(b)    Notwithstanding anything to the contrary in this Subscription Agreement, the Company shall be
entitled to delay or postpone the effectiveness of the Registration Statement, and from time to time to require any Subscriber not to sell under the Registration Statement or to suspend the effectiveness thereof, if (x)(i) an amendment to the
Registration Statement would be needed to include information that would at that time not otherwise be required in a current, quarterly, or annual report under the Exchange Act or (ii) the negotiation or consummation of a transaction by the
Company or its subsidiaries is pending or an event has occurred, which negotiation, consummation or event, the Company’s board of directors reasonably believes, upon the advice of legal counsel, would require additional disclosure by the
Company in the Registration Statement of material information that the Company has a bona fide business purpose for keeping confidential, and the non-disclosure of (i) or (ii) in the Registration
Statement would be expected, in the reasonable determination of the Company’s board of directors, upon the advice of legal counsel, to cause the Registration Statement to fail to comply with applicable disclosure requirements, (y) during
any customary blackout or similar period or as permitted 

 
hereunder and (z) as may be necessary in connection with the preparation and filing of a post-effective amendment to the Registration Statement following the filing of the Company’s
(including the combined company after giving effect to the Transaction) Annual Report on Form 10-K for its first completed fiscal year following the Subscription Closing (each such circumstance, a
“Suspension Event”); provided, however, that the Company may not delay or suspend the effectiveness or use of the Registration Statement on more than two occasions or for more than ninety (90) consecutive
calendar days or more than one-hundred twenty (120) total calendar days, in each case during any twelve (12) month period, and the Company shall use commercially reasonable efforts to make such
registration statement available for the sale by the Subscriber of such securities as soon as reasonably practicable thereafter. Upon receipt of any written notice from the Company of the happening of any Suspension Event (which notice shall not
contain material non-public information) during the period that the Registration Statement is effective or if as a result of a Suspension Event the Registration Statement or related prospectus contains any
untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made (in the case of the prospectus) not
misleading, each Subscriber agrees that (i) it will immediately discontinue offers and sales of the Shares under the Registration Statement until such Subscriber receives copies of a supplemental or amended prospectus (which the Company agrees
to promptly prepare) that corrects the misstatement(s) or omission(s) referred to above and receives notice that any post-effective amendment has become effective or unless otherwise notified by the Company that it may resume such offers and sales,
and (ii) it will maintain the confidentiality of any information included in such written notice delivered by the Company unless otherwise required by law or subpoena. If so directed by the Company, each Subscriber will deliver to the Company
or, in such Subscriber’s sole discretion destroy, all copies of the prospectus covering the Shares in such Subscriber’s possession; provided, however, that this obligation to deliver or destroy all copies of the prospectus
covering the Shares shall not apply (i) to the extent such Subscriber is required to retain a copy of such prospectus (a) in order to comply with applicable legal, regulatory, self-regulatory or professional requirements or (b) in
accordance with a bona fide pre-existing document retention policy or (ii) to copies stored electronically on archival servers as a result of automatic data
back-up. 
 (c)    Subscriber may deliver written notice (an
“Opt-Out Notice”) to the Company requesting that Subscriber not receive notices from the Company otherwise required by this Section 7; provided,
however, that Subscriber may later revoke any such Opt-Out Notice in writing. Following receipt of an Opt-Out Notice from Subscriber (unless subsequently
revoked), (i) the Company shall not deliver any such notices to Subscriber and Subscriber shall no longer be entitled to the rights associated with any such notice and (ii) each time prior to Subscriber’s intended use of an effective
Registration Statement, Subscriber will notify the Company in writing at least two (2) business days in advance of such intended use, and if a notice of a Suspension Event was previously delivered (or would have been delivered but for the
provisions of this Section 7(c) and the related suspension period remains in effect, the Company will so notify Subscriber, within one (1) business 

 
day of Subscriber’s notification to the Company, by delivering to Subscriber a copy of such previous notice of Suspension Event, and thereafter will provide Subscriber with the related
notice of the conclusion of such Suspension Event immediately upon its availability. 
 (d)    The
Company shall, notwithstanding any termination of this Subscription Agreement, indemnify, defend and hold harmless each Subscriber (to the extent a seller under the Registration Statement), the officers, directors, employees, members, managers,
partners, shareholders and agents of each of them, and each person who controls such Subscriber (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) to the fullest extent permitted by applicable law,
from and against any and all out-of-pocket losses, claims, damages, liabilities, costs (including, without limitation, reasonable attorneys’ fees) and expenses
(collectively, “Losses”), as incurred, that arise out of or are based upon (i) any untrue or alleged untrue statement of a material fact contained in the Registration Statement, any prospectus included in the
Registration Statement or any form of prospectus or in any amendment or supplement thereto or in any preliminary prospectus, or arising out of or relating to any omission or alleged omission to state a material fact required to be stated therein or
necessary to make the statements therein (in the case of any prospectus or form of prospectus or supplement thereto, in light of the circumstances under which they were made) not misleading, or (ii) any violation or alleged violation by the
Company of the Securities Act, Exchange Act or any state securities law or any rule or regulation thereunder, in connection with the performance of its obligations under this Section 7, except to the extent, but only to the
extent, that such untrue statements, alleged untrue statements, omissions or alleged omissions are based upon information regarding such Subscriber furnished in writing to the Company by such Subscriber expressly for use therein or such Subscriber
has omitted a material fact from such information or otherwise violated the Securities Act, Exchange Act or any state securities law or any other law, rule or regulation thereunder, in each case, in connection with the registration of the
Class A Common Stock; provided, however, that the indemnification contained in this Section 7 shall not apply to amounts paid in settlement of any Losses if such settlement is effected without the consent
of the Company (which consent shall not be unreasonably withheld, conditioned or delayed), nor shall the Company be liable for any Losses to the extent they arise out of or are based upon a violation which occurs (A) in reliance upon and in
conformity with written information furnished by a Subscriber, (B) in connection with any failure of such person to deliver or cause to be delivered a prospectus made available by the Company in a timely manner, (C) as a result of offers
or sales effected by or on behalf of any person by means of a “free writing prospectus” (as defined in Rule 405 under the Securities Act) that was not authorized in writing by the Company, or (D) in connection with any offers or sales
effected by or on behalf of a Subscriber in violation of this Section 7. The Company shall notify such Subscriber promptly of the institution, threat or assertion of any proceeding arising from or in connection with the
transactions contemplated by this Section 7 of which the Company is aware. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of an indemnified party and shall survive
the transfer of the Shares by such Subscriber. 

 (e)    Each Subscriber shall, severally and not jointly,
indemnify, defend and hold harmless the Company, its directors, officers, agents and employees, and each person who controls the Company (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act), to the
fullest extent permitted by applicable law, from and against any and all Losses, as incurred, arising out of or based upon any untrue or alleged untrue statement of a material fact contained in any Registration Statement, any prospectus included in
the Registration Statement, or any form of prospectus, or in any amendment or supplement thereto or in any preliminary prospectus, or arising out of or relating to any omission or alleged omission of a material fact required to be stated therein or
necessary to make the statements therein (in the case of any prospectus, or any form of prospectus or supplement thereto, in light of the circumstances under which they were made) not misleading to the extent, but only to the extent, that such
untrue statements or omissions are based upon information regarding such Subscriber furnished in writing to the Company by such Subscriber expressly for use therein; provided, however, that the indemnification contained in this
Section 7 shall not apply to amounts paid in settlement of any Losses if such settlement is effected without the consent of such Subscriber (which consent shall not be unreasonably withheld, conditioned or delayed).
Notwithstanding anything to the contrary herein, in no event shall the liability of any Subscriber be greater in amount than the dollar amount of the net proceeds received by such Subscriber upon the sale of the Shares giving rise to such
indemnification obligation. Each Subscriber shall notify the Company promptly of the institution, threat or assertion of any proceeding arising from or in connection with the transactions contemplated by this Section 7 of
which such Subscriber is aware. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of an indemnified party and shall survive the transfer of the Shares by such Subscriber. 

(f)    If the indemnification provided under this Section 7 from the indemnifying
party is unavailable or insufficient to hold harmless an indemnified party in respect of any Losses referred to herein, then the indemnifying party, in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by the
indemnified party as a result of such Losses in such proportion as is appropriate to reflect the relative fault of the indemnifying party and the indemnified party, as well as any other relevant equitable considerations. The relative fault of the
indemnifying party and indemnified party shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material
fact, was made by, or relates to information supplied by, such indemnifying party or indemnified party, and the indemnifying party’s and indemnified party’s relative intent, knowledge, access to information and opportunity to correct or
prevent such action. The amount paid or payable by a party as a result of the Losses or other liabilities referred to above shall be deemed to include, subject to the limitations set forth in Sections 7(d) and 7(e)
above, any legal or other fees, charges or expenses reasonably incurred by such party in connection with any investigation or proceeding. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities
Act) shall be entitled to contribution pursuant to this Section 7(f) from any person who was not guilty of such fraudulent misrepresentation. 

 8.    Termination. Except for the provisions of
Sections 8 through 10, which shall survive any termination hereunder, this Subscription Agreement shall terminate and be void and of no further force and effect, and all rights and obligations of the parties
hereunder shall terminate without any further liability on the part of any party in respect thereof, upon the earliest to occur of (a) following the execution of the Transaction Agreement, such date and time as such Transaction Agreement is
terminated in accordance with its terms, rescinded, or rendered invalid, illegal or unenforceable by law or otherwise, without the Transaction being consummated, (b) upon the mutual written agreement of each of the parties hereto and Target to
terminate this Subscription Agreement, (c) if any of the conditions to the Subscription Closing set forth in Section 3 of this Subscription Agreement are not satisfied as of the time required hereunder to be so
satisfied or waived (to the extent a valid waiver is capable of being issued) by the party entitled to grant such waiver on or prior to the Subscription Closing and, as a result thereof, the transactions contemplated by this Subscription Agreement
are not consummated at the Subscription Closing, (d) at the election of Subscriber, on or after the “Outside Date” as defined in the Transaction Agreement (as such Outside Date may be amended or extended from time to time), and
(e) such time as the Company notifies the undersigned in writing, or publicly discloses, that it does not intend to consummate the Transaction; provided that, subject to the limitations set forth in Section 9, nothing
herein will relieve any party hereto from liability for any willful breach hereof prior to the time of termination, and each party hereto will be entitled to any remedies at law or in equity to recover out-of-pocket losses, liabilities or damages arising from such breach. The Company shall promptly notify Subscriber of the termination of the Transaction Agreement promptly after the termination of such
Transaction Agreement. For the avoidance of doubt, if any termination hereof occurs after the delivery by Subscriber of the Purchase Price for the Shares, the Company shall promptly (but not later than one (1) business day thereafter) return
the Purchase Price to Subscriber without any deduction for or on account of any tax, withholding, charges, or set-off. 

9.    Trust Account Waiver. Subscriber acknowledges that the Company is a blank check company with the
powers and privileges to effect a merger, asset acquisition, reorganization or similar business combination involving the Company and one or more businesses or assets. Subscriber further acknowledges that, as described in the Company’s
prospectus relating to its initial public offering dated December 2, 2020 (the “Prospectus”) available at www.sec.gov, substantially all of the Company’s assets consist of the cash proceeds of the Company’s
initial public offering and private placements of its securities, and substantially all of those proceeds have been deposited in a trust account (the “Trust Account”) for the benefit of the Company, its public stockholders
and the underwriters of the Company’s initial public offering. For and in consideration of the Company entering into this Subscription Agreement, the receipt and sufficiency of which are hereby acknowledged, Subscriber hereby irrevocably waives
any and all right, title and interest, or any claim of any kind it has or may have in the future, in or to any monies held in the Trust Account, and agrees not to seek recourse against the Trust Account, in each case, as a result of, or arising out
of, this Subscription Agreement; provided that nothing in this Section 9 

 
(x) shall serve to limit or prohibit the Subscriber’s right to pursue a claim against Company for legal relief against assets held outside the Trust Account, for specific performance or
other equitable relief, (y) shall serve to limit or prohibit any claims that the Subscriber may have in the future against Company’s assets or funds that are not held in the Trust Account or (z) shall be deemed to limit
Subscriber’s right, title, interest or claim to the Trust Account by virtue of Subscriber’s record or beneficial ownership of shares of Class A Common Stock of the Company acquired by any means other than pursuant to this Subscription
Agreement. 
 10.    Miscellaneous. 

(a)    The Company shall, no later than 9:00 a.m., New York City time, on the first (1st) business day
immediately following the date this Subscription Agreement is accepted by the Company as set forth on the Company’s signature page hereto, issue one or more press releases or file with the Commission a Current Report on Form 8-K (collectively, the “Disclosure Document”) disclosing, to the extent not previously disclosed, all material terms of the transactions contemplated hereby, the Transaction and any other
material, non-public information that any of the Company, Target or any of their respective officers, directors or employees has provided to the undersigned at any time prior to the filing of the Disclosure
Document. From and after the issuance of the Disclosure Document, the undersigned shall not be in possession of any material, non-public information received from the Company, Target or any of their respective
officers, directors or employees. Notwithstanding anything in this Subscription Agreement to the contrary, each party hereto acknowledges and agrees that without the prior written consent of the other party hereto it will not publicly make reference
to such other party or any of its affiliates (i) in connection with the Transaction or this Subscription Agreement (provided that the Subscriber may disclose its entry into this Subscription Agreement and the Purchase Price) or (ii) in any
promotional materials, media, or similar circumstances, except, (x) in a press release or marketing materials of the Company in connection with the Transaction to the extent any such disclosure is substantially equivalent to information that
has previously been made public without breach of any obligation under this Section 10(a) and (y) as required by law or regulation or at the request of the Staff of the Commission or regulatory agency or under the regulations of the
NYSE, including, in the case of the Company (1) as required by the federal securities law in connection with the Registration Statement, (2) the filing of this Subscription Agreement (or a form of this Subscription Agreement) with the
Commission and (3) the filing of the Registration Statement on Form S-4 and/or Schedule 14A (or other SEC Document) and related materials to be filed by the Company with respect to the Transaction. 

(b)    Notwithstanding anything to the contrary in this Subscription Agreement, prior to the Subscription
Closing, Subscriber may not transfer or assign all or a portion of its rights under this Subscription Agreement other than to a fund or account managed by the same investment manager as Subscriber, or an affiliate of the Subscriber, without the
prior consent of the Company; provided that such transferee or assignee agrees in writing to be bound by and subject to the terms and conditions of this Subscription Agreement, 

 
makes the representations and warranties in Section 6 and completes Schedule A hereto. The parties hereto acknowledge and agree that (i) the Target is a
third-party beneficiary hereof and no consent, waiver, modification or amendment hereunder or hereof may be given or agreed to by the Company without the Target’s prior written consent, (ii) this Subscription Agreement is being entered
into in order to induce each of the Company and the Target to execute and deliver the Transaction Agreement and without the representations, warranties, covenants and agreements of the Company and Subscriber hereunder, each of the Company and the
Target would not enter into the Transaction Agreement, (iii) each representation, warranty, covenant and agreement of the Company and Subscriber hereunder is being made also for the benefit of the Target, and (iv) the Target may directly
enforce (including by an action for specific performance, injunctive relief or other equitable relief) each of the covenants and agreements of each of the Company and Subscriber under this Subscription Agreement. 

(c)    The Company may request from Subscriber such additional information as the Company may reasonably
deem necessary or practical to (x) register the resale of the Shares, (y) evaluate the eligibility of Subscriber to acquire the Shares or (z) otherwise consummate or evidence the transaction contemplated by this Subscription
Agreement, and Subscriber shall provide such information as may reasonably be requested, to the extent readily available and to the extent consistent with its internal policies and procedures; provided that the Company agrees to keep
confidential any such information provided by Subscriber and identified as confidential, except (i) as may be required under applicable law or (ii) as necessary to include in any registration statement the Company is required to file
hereunder or in connection herewith, provided, further, that (to the extent legally permissible) the Company provides to Subscriber a written notice of any disclosure of such information in advance of such disclosure. Subscriber acknowledges and
agrees that if it does not provide the Company with such requested information, the Company may not be able to register the Shares for resale pursuant to Section 7 hereof. 

(d)    If the Shares are eligible to be sold pursuant to an effective Registration Statement or without
restriction under, and without the Company being in compliance with the current public information requirements of, Rule 144, then at Subscriber’s request, including in connection with any transfer by Subscriber to the account of a DTC
participant without prior sale, the Company will cause the Transfer Agent to remove any remaining restrictive legend set forth on such Shares. In connection therewith, if required by the Transfer Agent, the Company will promptly cause an opinion of
counsel to be delivered to and maintained with the Transfer Agent, together with any other authorizations, certificates and directions required by the Transfer Agent that authorize and direct the Transfer Agent to issue such Shares without any such
legend. 
 (e)    Subscriber acknowledges that the Company, the Target and the Placement Agents will rely
on the acknowledgments, understandings, agreements, representations and warranties contained in this Subscription Agreement, including, without limitation, those made by Subscriber to the Company in this Subscription Agreement. Each of the

 
Company, the Target and Subscriber further acknowledges that the Placement Agents shall be entitled to rely on the representations and warranties contained in Section 5
and Section 6, respectively, of this Subscription Agreement. Prior to the Subscription Closing, each party hereto agrees to promptly notify the other party hereto if any of the acknowledgments, understandings, agreements,
representations and warranties of such party set forth herein are no longer accurate in all material respects. Each party agrees that each purchase by Subscriber of Shares from the Company will constitute a reaffirmation of its own acknowledgments,
understandings, agreements, representations and warranties herein (as modified by any such notice) as of the Subscription Closing. The Company and Subscriber further acknowledge and agree that the Placement Agents are third-party beneficiaries of
the representations and warranties of the Company and Subscriber contained in Section 5 and Section 6, respectively, of this Subscription Agreement. 

(f)    Each of the Company and Target is entitled to rely upon this Subscription Agreement and is
irrevocably authorized to produce this Subscription Agreement or a copy hereof when required by law, regulatory authority or NYSE to do so in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby. 

(g)    Except if required by law, the Commission or NYSE, without the prior written consent of Subscriber,
the Company shall not, and shall cause its representatives, including the Placement Agents and their representatives, not to, disclose the existence of this Subscription Agreement or any negotiations related hereto, or to use the name of Subscriber
or any information provided by Subscriber in connection herewith in or for the purpose of any marketing activities or materials or for any similar or related purpose. 

(h)    All the agreements, representations and warranties made by each party hereto in this Subscription
Agreement shall survive the Subscription Closing. 
 (i)    Each party hereto agrees for the express
benefit of each of the Placement Agents, their respective affiliates and their respective representatives that: 
  

	 	(i)	 Neither the Placement Agents nor any of their respective affiliates or representatives (A) has any duties
or obligations other than those specifically set forth herein or in their respective engagement letter with the Company (the “Engagement Letters”); (B) shall be liable for any improper payment made in accordance with the
information provided by the Company in connection with this Subscription Agreement; (C) makes any representation or warranty, or has any responsibilities as to the validity, accuracy, value or genuineness of any information, certificates or
documentation delivered by or on behalf of the Company pursuant to this Subscription Agreement or in connection with the Transaction, including any information in the SEC Documents; or (D) shall be liable to Subscriber (x) for any action
taken, suffered or omitted by any of them in good faith and reasonably believed to be authorized or within the discretion or 

	 	
rights or powers conferred upon it by this Subscription Agreement or (y) for anything which any of them may do or refrain from doing in connection with this Subscription Agreement, except
for such party’s own gross negligence, willful misconduct or bad faith; and 

  

	 	(ii)	 Each of the Placement Agents and their respective affiliates and representatives shall be entitled to rely on,
and shall be protected in acting upon, any certificate, instrument, opinion, notice, letter or any other document or security delivered to any of them by or on behalf of the Company. 

(j)    This Subscription Agreement may not be amended, modified or waived except by an instrument in
writing, signed by each of the parties hereto and Target; provided, that this Subscription Agreement may be amended, modified or waived with the written consent of the Company, Target and the holders then committed to purchase a majority of
the Aggregate Subscribed Shares to be purchased at the Subscription Closing (or, if after the Subscription Closing, the holders then holding a majority of the then outstanding Aggregate Subscribed Shares) pursuant to this Subscription Agreement and
the Other Subscription Agreements (collectively, the “Required Subscribers”). Upon the effectuation of such amendment, modification or waiver with the consent of the Required Subscribers in conformance with this
Section 10(j), such amendment, modification or waiver shall be binding on the Subscriber and effective as to all of this Subscription Agreement. The Company shall promptly give written notice thereof to Subscriber if
Subscriber has not previously consented to such amendment, modification or waiver in writing; provided that the failure to give such notice shall not affect the validity of such amendment, modification or waiver. Notwithstanding anything to
the contrary herein, (i) any amendment, modification or waiver that has a disproportionate effect on Subscriber (considered apart from any disproportionate effect owing to the number of Shares held by such Subscriber) relative to any of the
other Subscribers shall require the consent of Subscriber, (ii) any amendment to Section 5(k), Section 7 or Section 8 of this Subscription Agreement shall require the consent of Subscriber and
(iii) any amendment, modification or other change that alters the Per Share Price, the Purchase Price, or the number of Shares shall require the consent of Subscriber. 

(k)    This Subscription Agreement constitutes the entire agreement, and supersedes all other prior
agreements, understandings, representations and warranties, both written and oral, among the parties, with respect to the subject matter hereof. Except as otherwise expressly set forth in this Subscription Agreement, this Subscription Agreement
shall not confer any rights or remedies upon any person other than the parties hereto, and their respective successor and assigns. 

(l)    Except as otherwise provided herein, this Subscription Agreement shall be binding upon, and inure to
the benefit of the parties hereto and their heirs, executors, administrators, successors, legal representatives, and permitted assigns, and the agreements, representations, warranties, covenants and acknowledgments contained herein

 
shall be deemed to be made by, and be binding upon, such heirs, executors, administrators, successors, legal representatives and permitted assigns. The parties hereto acknowledge and agree that
the Target shall be entitled to specifically enforce (i) Subscriber’s obligation to fund the Purchase Price and cause the Subscription Closing to occur if the conditions in Section 3 of this Subscription Agreement
have been satisfied or, to the extent permitted by applicable law, waived by the applicable party entitled to waive any such condition, and (ii) the other provisions of this Subscription Agreement, under each of which the Target is an express
third-party beneficiary, in each case, on the terms and subject to the conditions set forth in this Subscription Agreement. Each of the parties hereto 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 Subscription Agreement and to enforce specifically the terms and provisions of this Subscription Agreement to cause Subscriber to fund the Purchase Price,
cause the Company to deliver the Shares and cause the Subscription Closing to occur if the conditions in Section 3 of this Subscription Agreement have been satisfied or, to the extent permitted by applicable law, waived by
the applicable party entitled to waive any such condition. Each party hereto further agrees that none of the parties hereto or Target 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 Section 10(l) 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. 

(m)    If any provision of this Subscription Agreement shall be invalid, illegal or unenforceable, the
validity, legality or enforceability of the remaining provisions of this Subscription Agreement shall not in any way be affected or impaired thereby and shall continue in full force and effect. 

(n)    This Subscription Agreement may be executed in one or more counterparts (including by facsimile or
electronic mail or in .pdf) and by different parties in separate counterparts, with the same effect as if all parties hereto had signed the same document. All counterparts so executed and delivered shall be construed together and shall constitute
one and the same agreement. 
 (o)    Whether or not the Subscription Closing occurs, Subscriber shall
pay all of its own expenses in connection with this Subscription Agreement and the transactions contemplated herein. 

(p)    Any notice or communication required or permitted hereunder shall be in writing and either delivered
personally, emailed or telecopied, sent by overnight mail via a reputable overnight carrier, or sent by certified or registered mail, postage prepaid, and shall be deemed to be given and received (a) when so delivered personally, (b) upon
receipt of an appropriate electronic answerback or confirmation when so delivered by telecopy (to such number specified below or another number or numbers as such person may subsequently designate by notice given hereunder), (c) when sent, with no
mail undeliverable or other rejection notice, if sent by email, or (d) two (2) business days after 

 
the date of mailing to the address below or to such other address or addresses as such person may hereafter designate by notice given hereunder: 

 

	 	(i)	 if to Subscriber, to such address, facsimile number or email address set forth on the signature page hereto;

 with a copy to: 

Jefferies LLC 
 520 Madison
Avenue 
 New York, New York 10022 

Attention: General Counsel 

and 
 BofA Securities, Inc.

 One Bryant Park 
 New York,
New York 10036 
 Attention: Philip Turbin 

and 
 Winston &
Strawn LLP 
 35 W. Wacker Drive 

Chicago, Illinois 60601 

Attention: Carol Anne Huff 

Email: chuff@winston.com 
  

	 	(ii)	 if to the Company (prior to the Transaction Closing), to: 

Live Oak Acquisition Corp. II 

40 South Main Street, #2550 

Memphis, Tennessee 38103 

Email: gwunderlich@liveoakmp.com 

 with a copy to: 

Vinson & Elkins L.L.P. 

1001 Fannin Street, Suite 2500 

Houston, Texas 77002 

Attention: Sarah K. Morgan 

Email: smorgan@velaw.com 
  

	 	(iii)	 if to the Company (following the Transaction Closing), 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 

with a copy to: 
 DLA Piper
LLP 
 555 Mission Street, Suite 2400 

San Francisco, CA 94105 

Attention: Jonathan Axelrad 

Email: jonathan.axelrad@us.dlapiper.com 

(q)    The parties hereto agree that irreparable damage would occur in the event that any of the provisions
of this Subscription Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties hereto shall be entitled to seek an injunction or injunctions to prevent breaches of this
Subscription Agreement and to enforce specifically the terms and provisions of this Subscription Agreement, this being in addition to any other remedy to which such party is entitled at law, in equity, in contract, in tort or otherwise. The parties
hereto further agree not to assert that a remedy of specific enforcement pursuant to this Section 10(q) is unenforceable, invalid, contrary to applicable law or inequitable for any reason and to waive any defenses in any
action for specific performance, including the defense that a remedy at law would be adequate. The parties acknowledge and agree that this Section 10(q) is an integral part of the transactions contemplated hereby and
without that right, the parties hereto would not have entered into this Subscription Agreement. 

(r)    THIS SUBSCRIPTION AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS THAT WOULD OTHERWISE REQUIRE THE APPLICATION OF THE LAW OF ANY OTHER STATE. EACH PARTY HERETO HEREBY WAIVES ANY RIGHT TO A JURY TRIAL IN CONNECTION WITH
ANY LITIGATION PURSUANT TO THIS SUBSCRIPTION AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY. 

 (s)    The parties agree that all disputes, legal
actions, suits and proceedings arising out of or relating to this Subscription Agreement must be brought exclusively in the state courts of New York or in the federal courts located in the state and county of New York (collectively the
“Designated Courts”). Each party hereby consents and submits to the exclusive jurisdiction of the Designated Courts. No legal action, suit or proceeding with respect to this Subscription Agreement may be brought in any other
forum. Notwithstanding the foregoing, a final judgement in any such action may be enforced in other jurisdictions by suit on the judgement or in any other manner provided by law. Each party hereby irrevocably waives all claims of immunity from
jurisdiction and any objection which such party may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Subscription Agreement in any Designated Court, including any right to object on
the basis that any such dispute, legal action, suit or proceeding brought in the Designated Courts has been brought in an improper or inconvenient forum or venue. Each of the parties also agrees that delivery of any process, summons, notice or
document to a party hereof in compliance with Section 10(p) of this Subscription Agreement shall be effective service of process for any action, suit or proceeding in a Designated Court with respect to any matters to which
the parties have submitted to jurisdiction as set forth above. 
 (t)    This Subscription Agreement may
only be enforced against, and any claim, action, suit or other legal proceeding based upon, arising out of, or related to this Subscription Agreement, or the negotiation, execution or performance of this Subscription Agreement, may only be brought
against the entities that are expressly named as parties hereto and then only with respect to the specific obligations set forth herein with respect to such party. No past, present or future director, officer, employee, incorporator, manager,
member, partner, stockholder, affiliate, agent, attorney or other representative of any party hereto or of any affiliate of any party hereto, or any of their successors or permitted assigns, shall have any liability for any obligations or
liabilities of any party hereto under this Subscription Agreement or for any claim, action, suit or other legal proceeding based on, in respect of or by reason of the transactions contemplated hereby. 

(u)    The obligations of the undersigned under this Subscription Agreement are several and not joint with
the obligations of any other Subscribers, including any Subscribers under the Other Subscription Agreements, and the undersigned shall not be responsible in any way for the performance of the obligations of any other Subscribers. Nothing contained
herein or in the Other Subscription Agreements, and no action taken by the undersigned or any other Subscribers, including pursuant to the Other Subscription Agreements, shall be deemed to constitute the undersigned or any other Subscribers as a
partnership, an association, a joint venture or any other kind of entity, or create a presumption that any Subscribers are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by this
Subscription Agreement and the Other Subscription Agreements. 

 [SIGNATURE PAGES FOLLOW] 

 IN WITNESS WHEREOF, the undersigned has executed or caused this Subscription
Agreement to be executed by its duly authorized representative as of the date set forth below. 
  

					
	Name of Subscriber:	 		  	State/Country of Formation or Domicile:
			
	By:                                     
                                 	 	            	  	
			
	Name:                                     
                            	 		  	
			
	Title:                                     
                              	 		  	
			
	Name in which shares are to be registered (if different):	 		  	Date:             , 2021
			
	Subscriber’s EIN:	 		  	
			
	Business Address-Street:	 		  	Mailing Address-Street (if different):
			
	City, State, Zip:	 		  	City, State, Zip:
			
	Attn:                     	 		  	Attn:                     
			
	Telephone No.:	 		  	Telephone No.:
			
	Facsimile No.:	 		  	Facsimile No.:
			
	Email Address:	 		  	Email Address:
			
	Number of Shares subscribed for:	 		  	
			
	Aggregate Subscription Amount: $	 		  	Price Per Share: $10.00

 You must pay the Subscription Amount by wire transfer of United States dollars in immediately available funds
to the account specified by the Company in the Closing Notice. 

 IN WITNESS WHEREOF, Live Oak Acquisition Corp. II has accepted this Subscription
Agreement as of the date set forth below. 
  

			
	LIVE OAK ACQUISITION CORP. II
		
	By:	 	
                    

	Name:	 	
                    

	Title:	 	
                    

 Date:             , 2021 

 IN WITNESS WHEREOF, the undersigned has executed or caused this Subscription
Agreement to be executed by its duly authorized representative as of the date set forth below. 
  

			
	NAVITAS SEMICONDUCTOR LIMITED
		
	By:	 	
                    

	Name:	 	
                    

	Title:	 	
                    

 Date:             , 2021 

 SCHEDULE A 

ELIGIBILITY REPRESENTATIONS OF THE SUBSCRIBER 

This Schedule must be completed by Subscriber and forms a part of the Subscription Agreement to which it is attached. Capitalized terms used and not
otherwise defined in this Schedule have the meanings given to them in the Subscription Agreement. Subscriber must check the applicable box in either Part A or Part B below and the applicable box in Part C below. 

 

							
	A.	  	QUALIFIED INSTITUTIONAL BUYER STATUS
		  	(Please check the applicable subparagraphs):
			
		  	1.        ☐	  	We are a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act).
		
	B.	  	INSTITUTIONAL ACCREDITED INVESTOR STATUS
		  	(Please check the applicable subparagraphs):
			
		  	1.        ☐	  	We are an “accredited investor” (within the meaning of Rule 501(a) under the Securities Act), for one or more of the following reasons (Please check the applicable subparagraphs):
				
		  		  	☐	  	We are a bank, as defined in Section 3(a)(2) of the Securities Act or any savings and loan association or other institution as defined in Section 3(a)(5)(A) of the Securities Act, whether acting in an individual or a fiduciary
capacity.
				
		  		  	☐	  	We are a broker or dealer registered under Section 15 of the Securities Exchange Act of 1934, as amended.
				
		  		  	☐	  	We are an insurance company, as defined in Section 2(13) of the Securities Act.
				
		  		  	☐	  	We are an investment company registered under the Investment Company Act of 1940 or a business development company, as defined in Section 2(a)(48) of that act.
				
		  		  	☐	  	We are a Small Business Investment Company licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958.
				
		  		  	☐	  	We are a plan established and maintained by a state, its political subdivisions or any agency or instrumentality of a state or its political subdivisions for the benefit of its employees, if the plan has total assets in excess of $5
million.

  
 33 

							
		  		  	☐	  	We are an employee benefit plan within the meaning of Title I of the Employee Retirement Income Security Act of 1974, if the investment decision is being made by a plan fiduciary, as defined in Section 3(21) of such act, and the
plan fiduciary is either a bank, an insurance company, or a registered investment adviser, or if the employee benefit plan has total assets in excess of $5 million.
				
		  		  	☐	  	We are a private business development company, as defined in Section 202(a)(22) of the Investment Advisers Act of 1940.
				
		  		  	☐	  	We are a corporation, Massachusetts or similar business trust, or partnership, or an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, that was not formed for the specific purpose of
acquiring the Securities, and that has total assets in excess of $5 million.
				
		  		  	☐	  	We are a trust with total assets in excess of $5 million not formed for the specific purpose of acquiring the Securities, whose purchase is directed by a sophisticated person as described in Rule 506(b)(2)(ii) under the Securities
Act.
				
		  		  	☐	  	We are an entity in which all of the equity owners are accredited investors.
		
	C.	  	AFFILIATE STATUS
		  	(Please check the applicable box)
		
		  	THE SUBSCRIBER:
				
		  	☐	  	is:	  	
			
		  	☐	  	is not:
			
		  		  	an “affiliate” (as defined in Rule 144 under the Securities Act) of the Company or acting on behalf of an affiliate of the Company.

  
 34Exhibit 10.2

 

MACK-CALI REALTY CORPORATION

STOCK OPTION AGREEMENT

MAHBOD NIA

 

 

 

This Stock Option Agreement
(this “Agreement”) between Mack-Cali Realty Corporation (the “Company”) and Mahbod Nia (the “Optionee”)
shall be effective as of March 10, 2021 (the “Grant Date”).

 

This Option (as defined below)
is being made and granted as a standalone award, separate and apart from, and outside of, the Mack-Cali Realty Corporation 2013 Incentive
Stock Plan (as amended from time to time, the “Plan”) and all other shareholder-approved equity compensation plans
of the Company. Notwithstanding the foregoing, the terms, conditions, and definitions set forth in the Plan shall apply to this Agreement
and the Option as if the Option had been granted under the Plan, and this Agreement shall be subject to such terms, conditions, and definitions,
which are hereby incorporated into this Agreement by reference (and any such references to the Plan in this Agreement shall solely be
interpreted to be references to the substance of the Plan so incorporated, but shall not in any way imply or indicate that this Option
was granted under the Plan). For the avoidance of doubt, the Option shall not be counted for purposes of calculating the aggregate number
of Shares that may be issued under the Plan or for purposes of any limitations on awards under the Plan. In the event of any inconsistency
between the Plan and this Agreement, the terms of this Agreement shall control.

 

This Option is intended to
be granted as a one-time employment “inducement award” under Section 303A.08 of the New York Stock Exchange (“NYSE”)
Listed Company Manual, and consequently is intended to be exempt from the NYSE rules regarding shareholder approval of equity compensation.
This Agreement and the terms and conditions of this Option shall be interpreted in accordance and consistent with such exemption.

 

WITNESSETH:

 

1.            Grant
of this Option: The Company hereby grants to the Optionee, subject to the terms and conditions herein set forth, an option (this “Option”)
to purchase from the Company all or any part of 950,000 Shares at a purchase price per Share equal to $15.79, subject to adjustment as
provided herein and in the Plan. The Shares subject to this Option are collectively referred to as the “Option Shares.”

 

2.            Terms
and Conditions: It is understood and agreed that this Option evidenced hereby is not intended to qualify as an “incentive stock
option” under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). This Option may
be exercised from time to time subject to the following:

 

(a)            Expiration
Date: This Option shall expire on the seventh (7th) anniversary of the Grant Date (the “Expiration Date”), unless
earlier terminated as provided in Section 2(b).

 

    

     

    

 

(b)            Vesting
and Forfeiture of Option; Forfeiture of Shares; Expiration:

 

(i)            General.
This Option shall vest and become exercisable in three (3) substantially equal installments on each of the first three (3) anniversaries
of the Grant Date (that is, the Option shall vest and become exercisable with respect to 316,667 Option Shares, 316,667 Option Shares,
and 316,666 Option Shares on the first (1st), second (2nd), and third (3rd) anniversaries of the Grant
Date, respectively), subject to Optionee’s continued employment with the Company and its Subsidiaries through each such date (except
as otherwise provided in Section 2(b)(ii) or 2(b)(iii) below). For the avoidance of doubt, notwithstanding anything to
the contrary in the Plan, vesting of the Option shall not be accelerated solely on account of a Change in Control.

 

(ii)           Termination
Because of Death/Disability. If the Optionee experiences a Termination by reason of the Optionee’s death or Disability (as defined
in the Grantee’s Executive Employment Agreement with the Company and Mack-Cali UK Ltd., dated as of March 2, 2021, as amended
from time to time (the “Employment Agreement”)), then the Option shall vest and become exercisable with respect to
a prorated number of Option Shares as would otherwise be scheduled to vest on the next regularly scheduled vesting date described in Section 2(b)(i),
with such proration based on the quotient obtained by dividing (x) the number of days elapsed between the previous vesting date described
in Section 2(b)(i) (if none, the Grant Date) and the date of Termination by (y) the total number of days between the previous
vesting date described in Section 2(b)(i) (if none, the Grant Date) and such next regularly scheduled vesting date. Any portion
of the Option that remains unvested after application of the preceding sentence shall immediately terminate and be forfeited without consideration,
and the vested portion of the Option shall remain outstanding and exercisable until the Expiration Date.

 

(iii)          Termination
without Cause; Resignation for Good Reason. If the Optionee experiences a Termination by reason of (x) a termination of employment
by the Company and its Subsidiaries without Cause (as defined in the Employment Agreement, and other than by reason of death or Disability),
or (y) Optionee’s resignation for Good Reason (as defined in the Employment Agreement), any then-unvested portion of the Option
shall vest, and the Option shall remain outstanding and exercisable until the Expiration Date.

 

(iv)          Other
Terminations. If the Optionee experiences a Termination for any reason other than as set forth in Section 2(b)(ii) or 2(b)(iii) above,
any then-unvested portion of the Option shall immediately terminate and be forfeited for no consideration, and the vested portion of the
Option shall remain outstanding and exercisable until the earlier of (x) thirty (30) days following such Termination, and (y) the
Expiration Date.

 

(v)           Release
Requirement. Notwithstanding anything to the contrary in this Section 2, any additional vesting upon Termination provided in
Section 2(b)(ii) or 2(b)(iii) shall be conditioned upon Optionee (A) executing, and not revoking within the applicable
period specified in the Employment Agreement, a release of claims in the form required under the Employment Agreement, and (B) complying
with any restrictive covenants, including, without limitation, any restrictions on engaging in competitive activities, soliciting service
providers or clients, or utilizing confidential information, contained in the Employment Agreement.

 

    2

     

    

 

(c)            Exercise;
Payment of Purchase Price Upon Exercise: Only the vested and outstanding portion of the Option may be exercised at any given time.
Any outstanding and vested portion of this Option may be exercised by Optionee from time to time by written notice to the Company specifying
the number of Option Shares as to which this Option is being exercised (which may be in electronic form pursuant to procedures established
by the Company). At the time of any exercise, the purchase price of the Option Shares as to which this Option is being exercised shall
be paid by Optionee to the Company (i) in cash, (ii) at the option of the Optionee, in Shares (including by withholding Option
Shares), valued at the mean of the high and low sale prices of such stock on the New York Stock Exchange on the day of exercise (or via
a broker-assisted “cashless exercise” procedure made available by the Company), or (iii) at the option of Optionee, a
combination thereof.

 

(d)            Non-transferability:
This Option shall not be transferable and may not be sold, assigned, transferred, pledged, hypothecated, or otherwise disposed by Optionee
other than by will or by the laws of descent and distribution (in which case, such transferee shall succeed to the rights and obligations
of Optionee hereunder). During the lifetime of Optionee, this Option shall be exercisable only by Optionee. If Optionee or anyone claiming
under or through Optionee attempts to violate this Section, such attempted violation shall be null and void and without effect.

 

(e)            No
Rights as Stockholder: Optionee shall have no rights as a stockholder with respect to any Shares subject to this Option prior to the
date of issuance to Optionee of a certificate or certificates for such shares (or evidence of book entry shares being recorded in the
Company’s books and records).

 

(f)             No
Rights to Continued Employment: This Option shall not confer upon Optionee any right to continued employment with the Company or any
subsidiary of the Company, or limit in any respect the right of the Company, the Board, or any subsidiary to terminate such employment
or service at any time.

 

(g)            Compliance
With Laws and Regulations: This Option and the obligation of the Company to sell and deliver shares hereunder, shall be subject to
all applicable federal and state laws, rules, and regulations and to such approvals by any governmental or regulatory agency as may be
required. The Company shall not be required to issue or deliver any certificates for Shares prior to (i) the listing of such shares
on any stock exchange on which the Shares may then be listed and (ii) the completion of any registration or qualification of such
shares under any federal or state law, or any rule or regulation of any government body which the Board or the Committee shall, in
its sole discretion, determine to be necessary or advisable. Moreover, this Option may not be exercised if its exercise, or the receipt
of Shares pursuant thereto, would be contrary to applicable law. The Option Shares shall be registered on Form S-8 promptly following
the grant of this Option.

 

3.            Withholding
and Taxes: If required under applicable law, in connection with the exercise of this Option, the Optionee will pay to the Company
any federal, state, or local or non-U.S. taxes of any kind required by law to be withheld with respect to such amount (the “Withholding
Amount”). Payment of the Withholding Amount shall be made by the Optionee at Optionee’s election either (x) in cash,
or (y) by transferring to the Company such number of Shares (including by withholding Option Shares) with a value equal to the Withholding
Amount (or via a broker-assisted “cashless exercise” procedure made available by the Company). The obligations of the Company
under this Agreement will be conditional on such payment or arrangements, and the Company and its affiliates shall, to the extent permitted
by law, have the right to deduct any such taxes from any payment otherwise due to the Optionee. The Option is intended to comply with
Proposed Treasury Regulation 1.409A-1(b)(5)(iii)(E) and will be interpreted accordingly.

 

    3

     

    

 

4.            Adjustment
Provisions: In the event of (i) changes in the Shares by reason of stock dividends, spin-offs, split-ups, or combination of shares,
reclassifications, recapitalizations, mergers, consolidation, reorganizations, or liquidations or (ii) any spin-off, extraordinary
dividend, or distribution of assets, then in either case, appropriate adjustments shall be made by the Committee in (a) the number
and class of shares thereafter subject to this Option and (b) the purchase price for the Option Shares as set forth above, in each
case to prevent dilution or enlargement of the Optionee’s rights hereunder. Whether any adjustment or modification is required,
and the amount thereof, shall be determined by the Committee, which determination shall be final and binding on all interested parties.

 

5.            Corporate
Action by the Company: Existence of this Option shall not impair the right of the Company or its shareholders to make adjustments,
recapitalizations, reorganizations, or other changes in its capital structure or business, to consummate any merger or consolidation of
the Company, to issue bonds, debentures, preferred, or prior preference stocks ahead of or affecting the Shares or the rights thereof,
to dissolve or liquidate the Company, to sell or transfer all or any part of its assets or business, or to do or take any other corporate
act or proceeding it or they might have done or taken if this Option was not in existence.

 

6.            Interpretation:
As a condition of granting of this Option, Optionee, and each person who succeeds to Optionee’s rights hereunder, agrees that any
dispute or disagreement which shall arise out of or by reason of this Option shall be determined by the Committee in its sole discretion
and such determination shall be final and binding on all interested parties. If no Committee is acting, its functions shall be performed
by the Board, and each reference herein to the Committee shall, in that event, be deemed to refer to the Board. By accepting this Agreement,
Optionee and each person claiming under or through Optionee shall be conclusively deemed to have indicated acceptance and ratification
of, and consent to, the terms of the Plan as incorporated by reference herein (it being understood that this Option is not granted under
the Plan, but has been granted as a standalone, one-time “inducement” award as described herein).

 

7.            Notices:
Any notice hereunder to the Company shall be addressed to it at its principal office, and any notice hereunder to Optionee shall be addressed
to Optionee at the residence address of Optionee as noted in the Company’s files, subject to the right of either party to designate
at any time hereafter in writing some other address.

 

8.            Binding
Effect: This Agreement shall be binding upon and inure to the benefit of any successors to the Company and all persons lawfully claiming
under the Optionee.

 

9.            Entire
Agreement. This Agreement contains the entire understanding of the Company and Optionee with respect to the subject matter hereof.
For the avoidance of doubt, the grant of this Option is in complete satisfaction of the “Sign-On Award” described in Section 3(c)(i) of
the Employment Agreement.

 

    4

     

    

 

10.          Governing
Law: This Agreement and the rights and obligations of the parties hereto shall be governed by the laws of the State of Maryland.

 

OPTIONEE ACKNOWLEDGES AND AGREES THAT NOTHING
IN THIS AGREEMENT, EXPRESS OR IMPLIED, SHALL CONFER UPON OPTIONEE ANY RIGHT WITH RESPECT TO CONTINUATION OF EMPLOYMENT WITH THE COMPANY,
NOR SHALL IT INTERFERE IN ANY WAY WITH OPTIONEE’S RIGHT OR THE COMPANY’S RIGHT TO TERMINATE OPTIONEE’S EMPLOYMENT AT
ANY TIME, WITH OR WITHOUT CAUSE.

 

[signature page follows]

 

    5

     

    

 

IN
WITNESS WHEREOF, Mack-Cali Realty Corporation has caused this Agreement to be executed by its duly authorized officer, and
Optionee has executed this Agreement, both as of the date and year first above written.

 

	OPTIONEE:	 	MACK-CALI REALTY CORPORATION
	MAHBOD NIA	 	 
	 	 	 	 
	/s/
    Mahbod Nia	 	By:	/s/ Gary T. Wagner

	 	 	Name:	Gary T. Wagner
	 	 	Title:	General Counsel and Secretary

 

[Signature Page to M. Nia Option Agreement]

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