Document:

Exhibit
10.1

 

THIS
PROMISSORY NOTE (THIS “NOTE”) HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”). THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED
OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE THEREOF UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY
SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

PROMISSORY
NOTE

 

	Principal
    Amount: $300,000 	Dated
    as of January 8, 2021

New
York, New York

 

RXR
Acquisition Corp., a Delaware corporation (the “Maker”), promises to pay to the order of RXR Acquisition
Sponsor LLC, a Delaware limited liability company, or its registered assigns or successors in interest (the “Payee”),
or order, the principal sum of Three Hundred Thousand Dollars ($300,000) or such lesser amount as shall have been advanced by
Payee to Maker and shall remain unpaid under this Note on the Maturity Date (as defined below) in lawful money of the United States
of America, on the terms and conditions described below. All payments on this Note shall be made by wire transfer of immediately
available funds or as otherwise determined by the Maker to such account as the Payee may from time to time designate by written
notice in accordance with the provisions of this Note.

 

		1.	Principal.
                                         The entire unpaid principal balance of this Note shall be payable on the earlier
                                         of: (i) December 31, 2021, or (ii) the date on which Maker consummates an initial public
                                         offering of its securities (such earlier date, the “Maturity Date”).
                                         The principal balance may be prepaid at any time by Maker, at its election and without
                                         penalty. Under no circumstances shall any individual, including but not limited to any
                                         officer, director, employee or stockholder of the Maker, be obligated personally for
                                         any obligations or liabilities of the Maker hereunder.

 

		2.	Drawdown
                                         Requests. Maker and Payee agree that Maker may request, from time to time, up to
                                         Three Hundred Thousand Dollars ($300,000) in drawdowns under this Note to be used for
                                         costs and expenses related to Maker’s formation and the proposed initial public
                                         offering of its securities (the “IPO”). Principal of this Note
                                         may be drawn down from time to time prior to the Maturity Date upon written request from
                                         Maker to Payee (each, a “Drawdown Request”). Each Drawdown
                                         Request must state the amount to be drawn down, and must not be an amount less than Ten
                                         Thousand Dollars ($10,000). Payee shall fund each Drawdown Request no later than three
                                         (3) business days after receipt of a Drawdown Request; provided, however, that the maximum
                                         amount of drawdowns outstanding under this Note at any time may not exceed Three Hundred
                                         Thousand Dollars ($300,000). No fees, payments or other amounts shall be due to Payee
                                         in connection with, or as a result of, any Drawdown Request by Maker.

 

		3.	Interest.
                                         No interest shall accrue on the unpaid principal balance of this Note.

 

     

     

    

 

		4.	Application
                                         of Payments. All payments shall be applied first to payment in full of any costs
                                         incurred in the collection of any sum due under this Note, including (without limitation)
                                         reasonable attorney’s fees, then to the payment in full of any late charges and
                                         finally to the reduction of the unpaid principal balance of this Note.

 

		5.	Events
                                         of Default. The following shall constitute an event of default (“Event
                                         of Default”):

 

		(a)	Failure
                                         to Make Required Payments. Failure by Maker to pay the principal amount due pursuant
                                         to this Note within five (5) business days of the date specified above.

 

		(b)	Voluntary
                                         Bankruptcy, Etc. The commencement by Maker of a voluntary case under any applicable
                                         bankruptcy, insolvency, reorganization, rehabilitation or other similar law, or the consent
                                         by it to the appointment of or taking possession by a receiver, liquidator, assignee,
                                         trustee, custodian, sequestrator (or other similar official) of Maker or for any substantial
                                         part of its property, or the making by it of any assignment for the benefit of creditors,
                                         or the failure of Maker generally to pay its debts as such debts become due, or the taking
                                         of corporate action by Maker in furtherance of any of the foregoing.

 

		(c)	Involuntary
                                         Bankruptcy, Etc. The entry of a decree or order for relief by a court having jurisdiction
                                         in the premises in respect of Maker in an involuntary case under any applicable bankruptcy,
                                         insolvency or other similar law, or appointing a receiver, liquidator, assignee, custodian,
                                         trustee, sequestrator (or similar official) of Maker or for any substantial part of its
                                         property, or ordering the winding-up or liquidation of its affairs, and the continuance
                                         of any such decree or order unstayed and in effect for a period of 60 consecutive days.

 

		6.	Remedies.

 

		(a)	Upon
                                         the occurrence of an Event of Default specified in Section 5(a) hereof, Payee may, by
                                         written notice to Maker, declare this Note to be due immediately and payable, whereupon
                                         the unpaid principal amount of this Note, and all other amounts payable hereunder, shall
                                         become immediately due and payable without presentment, demand, protest or other notice
                                         of any kind, all of which are hereby expressly waived, anything contained herein or in
                                         the documents evidencing the same to the contrary notwithstanding.

 

		(b)	Upon
                                         the occurrence of an Event of Default specified in Sections 5(b) or 5(c), the unpaid
                                         principal balance of this Note, and all other sums payable with regard to this Note,
                                         shall automatically and immediately become due and payable, in all cases without any
                                         action on the part of Payee.

 

		7.	Waivers.
                                         Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment
                                         for payment, demand, notice of dishonor, protest, and notice of protest with regard to
                                         the Note, all errors, defects and imperfections in any proceedings instituted by Payee
                                         under the terms of this Note, and all benefits that might accrue to Maker by virtue of
                                         any present or future laws exempting any property, real or personal, or any part of the
                                         proceeds arising from any sale of any such property, from attachment, levy or sale under
                                         execution, or providing for any stay of execution, exemption from civil process, or extension
                                         of time for payment; and Maker agrees that any real estate that may be levied upon pursuant
                                         to a judgment obtained by virtue hereof, or any writ of execution issued hereon, may
                                         be sold upon any such writ in whole or in part in any order desired by Payee.

 

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		8.	Unconditional
                                         Liability. Maker hereby waives all notices in connection with the delivery, acceptance,
                                         performance, default, or enforcement of the payment of this Note, and agrees that its
                                         liability shall be unconditional, without regard to the liability of any other party,
                                         and shall not be affected in any manner by any indulgence, extension of time, renewal,
                                         waiver or modification granted or consented to by Payee, and consents to any and all
                                         extensions of time, renewals, waivers, or modifications that may be granted by Payee
                                         with respect to the payment or other provisions of this Note, and agrees that additional
                                         makers, endorsers, guarantors, or sureties may become parties hereto without notice to
                                         Maker or affecting Maker’s liability hereunder.

 

		9.	Notices.
                                         All notices, statements or other documents which are required or contemplated by
                                         this Note shall be: in writing and delivered (i) personally or sent by first class registered
                                         or certified mail, overnight courier service or facsimile or electronic transmission
                                         to the address designated in writing, (ii) by facsimile to the number most recently provided
                                         to such party or such other address or fax number as may be designated in writing by
                                         such party or (iii) by electronic mail, to the electronic mail address most recently
                                         provided to such party or such other electronic mail address as may be designated in
                                         writing by such party. Any notice or other communication so transmitted shall be deemed
                                         to have been given on the day of delivery, if delivered personally, on the business day
                                         following receipt of written confirmation, if sent by facsimile or electronic transmission,
                                         one (1) business day after delivery to an overnight courier service or five (5) days
                                         after mailing if sent by mail.

 

		10.	Construction.
                                         THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF NEW YORK,
                                         WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS THEREOF.

 

		11.	Severability.
                                         Any provision contained in this Note which is prohibited or unenforceable in any
                                         jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition
                                         or unenforceability without invalidating the remaining provisions hereof, and any such
                                         prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable
                                         such provision in any other jurisdiction.

 

		12.	Trust
                                         Waiver. Notwithstanding anything herein to the contrary, the Payee hereby waives
                                         any and all right, title, interest or claim of any kind (“Claim”)
                                         in or to any distribution of or from the trust account to be established in which the
                                         proceeds of the IPO conducted by the Maker (including the deferred underwriters discounts
                                         and commissions) and the proceeds of the sale of the warrants issued in a private placement
                                         to occur prior to the consummation of the IPO are to be deposited, as described in greater
                                         detail in the registration statement and prospectus to be filed with the Securities and
                                         Exchange Commission in connection with the IPO, and hereby agrees not to seek recourse,
                                         reimbursement, payment or satisfaction for any Claim against the trust account for any
                                         reason whatsoever.

 

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		13.	Amendment;
                                         Waiver. Any amendment hereto or waiver of any provision hereof may be made with,
                                         and only with, the written consent of the Maker and the Payee.

 

		14.	Assignment.
                                         No assignment or transfer of this Note or any rights or obligations hereunder may
                                         be made by any party hereto (by operation of law or otherwise) without the prior written
                                         consent of the other party hereto and any attempted assignment without the required consent
                                         shall be void, provided that either party may assign or transfer this Note or any of
                                         the rights and obligations hereunder to its affiliates.

 

 

[Signature
page follows]

 

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IN
WITNESS WHEREOF, Maker, intending to be legally bound hereby, has caused this Note to be duly executed by the undersigned as of
the day and year first above written.

 

		RXR
         ACQUISITION CORP.
	 	 	 
	 	By:	/s/
                                         Jason Barnett
	 	 	Name:	Jason
                                         Barnett
	 	 	Title:	Director

 

	Acknowledged and Agreed to

as of the date first written above.	
	 	 	 
	RXR ACQUISITION SPONSOR LLC	 
	 	 	 
	By: 	RXR Properties Holdings, LLC, as sole member	 
	 	 	 
	By:	/s/
                                         Jason Barnett	 
	 	Name:	Jason
               Barnett	 
	 	Title:	Authorized
               Person	 

 

 

[Signature
Page to Promissory Note]

 

    5Exhibit 10.5

 

RXR Acquisition Corp.

625 RXR Plaza

Uniondale, NY 11556

 

January 8, 2021

 

RXR Acquisition Sponsor LLC

625 RXR Plaza

Uniondale, NY 11556

 

		RE:	Securities Subscription Agreement

 

Ladies and Gentlemen:

 

RXR Acquisition Corp., a Delaware corporation
(the “Company”), is pleased to accept the offer RXR Acquisition Sponsor LLC, a Delaware limited liability
company (the “Subscriber” or “you”), has made to purchase 7,187,500 shares
of the Company’s Class B common stock (the “Shares”), $0.0001 par value per share (the “Class
B Common Stock”), up to 937,500 of which are subject to complete or partial forfeiture by you if the underwriters
of the Company’s initial public offering (“IPO”), if any, do not fully exercise their over-allotment
option (the “Over-allotment Option”). For the purposes of this Agreement, references to “Common
Stock” are to, collectively, the Class B Common Stock, $0.0001 par value per share, and the Company’s Class
A common stock, par value $0.0001 (the “Class A Common Stock”). Pursuant to the Company’s certificate
of incorporation, as amended to the date hereof (the “Charter”), shares of Class B Common Stock will
convert into shares of Class A Common Stock on a one-for-one basis, subject to adjustment, upon the terms and conditions sets forth
in the Charter. Unless the context otherwise requires, as used herein “Securities” shall refer to the
Shares and shall be deemed to include any shares of Class A Common Stock issued upon conversion of the Shares. The terms (this
“Agreement”) on which the Company is willing to sell the Shares to the Subscriber, and the Company and
the Subscriber’s agreements regarding such Shares, are as follows:

 

1. PURCHASE OF SHARES.
For the sum of $25,000 (the “Purchase Price”), which the Company acknowledges receiving in cash, the
Company hereby sells and issues the Shares to the Subscriber, and the Subscriber hereby purchases the Shares from the Company,
subject to forfeiture, on the terms and subject to the conditions set forth in this Agreement. Concurrently with the Subscriber’s
execution of this Agreement, the Company shall, at its option, deliver to the Subscriber a certificate registered in the Subscriber’s
name representing the Shares (the “Original Certificate”), or effect such delivery in book-entry form.

 

2.
Representations, Warranties and Agreements.

 

2.1 Subscriber’s
Representations, Warranties and Agreements. To induce the Company to issue the Securities
to the Subscriber, the Subscriber hereby represents and warrants to the Company and agrees with the Company as
follows:

 

     

     

    

 

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

 

2.1.2 No
Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Subscriber of the
transactions contemplated hereby do not violate, conflict with or constitute a default under (i) the formation and governing
documents of the Subscriber, (ii) any agreement, indenture or instrument to which the Subscriber is a party or (iii) any law,
statute, rule or regulation to which the Subscriber is subject, or any agreement, order, judgment or decree to which the
Subscriber is subject.

 

2.1.3 No
Governmental Consents. No governmental, administrative or other third party consents or approvals are required,
necessary or appropriate on the part of Subscriber in connection with the transactions contemplated by this Agreement.

 

2.1.4 Organization
and Authority. The Subscriber is a Delaware limited liability company, duly organized, validly existing and in good
standing under the laws of Delaware and possesses all requisite power and authority necessary to carry out the transactions
contemplated by this Agreement. Upon execution and delivery by you, this Agreement is a legal, valid and binding agreement of
the Subscriber, enforceable against the Subscriber in accordance with its terms, except as such enforceability may be limited
by applicable bankruptcy, insolvency, fraudulent conveyance or similar laws affecting the enforcement of creditors’
rights generally and subject to general principles of equity (regardless of whether enforcement is sought in a proceeding at
law or in equity).

 

2.1.5 Experience,
Financial Capability and Suitability. The Subscriber is: (i) sophisticated in financial matters and is able to evaluate
the risks and benefits of the investment in the Securities and (ii) able to bear the economic risk of its investment in the
Securities for an indefinite period of time because the Securities have not been registered under the Securities Act (as
defined below) and therefore cannot be sold unless subsequently registered under the Securities Act or an exemption from such
registration is available. The Subscriber is capable of evaluating the merits and risks of its investment in the Company and
has the capacity to protect its own interests. The Subscriber must bear the economic risk of this investment until the
Securities are sold pursuant to: (i) an effective registration statement under the Securities Act or (ii) an exemption from
registration available with respect to such sale. The Subscriber is able to bear the economic risks of an investment in the
Securities and to afford a complete loss of the Subscriber’s investment in the Securities.

 

2.1.6 Access
to Information; Independent Investigation. Prior to the execution of this Agreement, the Subscriber has had the
opportunity to ask questions of and receive answers from representatives of the Company concerning an investment in the
Company, as well as the finances, operations, business and prospects of the Company, and the opportunity to obtain additional
information to verify the accuracy of all information so obtained. In determining whether to make this investment, the
Subscriber has relied solely on the Subscriber’s own knowledge and understanding of the Company and its business based
upon the Subscriber’s own due diligence investigation and the information furnished pursuant to this paragraph. The
Subscriber understands that no person has been authorized to give any information or to make any representations which were
not furnished pursuant to this Section 2 and the Subscriber has not relied on any other representations or information in
making its investment decision, whether written or oral, relating to the Company, its financial condition, operations and/or
its prospects.

 

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2.1.7 Regulation
D Offering. The Subscriber represents that it is an “accredited investor” as such term is
defined in Rule 501(a) of Regulation D under the Securities Act of 1933, as amended (the “Securities
Act”), and acknowledges the sale contemplated hereby is being made in reliance on a private placement exemption
applicable to “accredited investors” within the meaning of Section 501(a) of Regulation D under the Securities
Act or similar exemptions under state law.

 

2.1.8 Investment
Purposes. The Subscriber is purchasing the Securities solely for investment purposes, for the Subscriber’s own
account and not for the account or benefit of any other person, and not with a view towards the distribution or dissemination
thereof. The Subscriber did not decide to enter into this Agreement as a result of any general solicitation or general
advertising within the meaning of Rule 502 under the Securities Act.

 

2.1.9 Restrictions
on Transfer; Shell Company. The Subscriber understands the Securities are being offered in a transaction not involving a
public offering within the meaning of the Securities Act. The Subscriber understands the Securities will be
“restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act and the
Subscriber understands that the certificates or book-entries representing the Securities will contain a legend in respect of
such restrictions. If in the future the Subscriber decides to offer, resell, pledge or otherwise transfer the Securities,
such Securities may be offered, resold, pledged or otherwise transferred only pursuant to: (i) registration under the
Securities Act, or (ii) an available exemption from registration. The Subscriber agrees that if any transfer of its
Securities or any interest therein is proposed to be made, as a condition precedent to any such transfer, the Subscriber may
be required to deliver to the Company an opinion of counsel satisfactory to the Company. Absent registration or an exemption,
the Subscriber agrees not to resell the Securities. The Subscriber further acknowledges that because the Company is a shell
company, Rule 144 may not be available to the Subscriber for the resale of the Securities until at least one year following
consummation of the initial business combination of the Company, despite technical compliance with the requirements of Rule
144 and the release or waiver of any contractual transfer restrictions.

 

2.2 Company’s
Representations, Warranties and Agreements. To induce the Subscriber to purchase the
Securities, the Company hereby represents and warrants to the Subscriber and agrees with the Subscriber as
follows:

 

2.2.1 Organization
and Corporate Power. The Company is a Delaware corporation and is qualified to do business in every jurisdiction in
which the failure to so qualify would reasonably be expected to have a material adverse effect on the financial condition,
operating results or assets of the Company. The Company possesses all requisite corporate power and authority necessary to
carry out the transactions contemplated by this Agreement. This Agreement is a legal, valid and binding agreement of the
Company, enforceable against the Company in accordance with its terms, except as such enforceability may be limited by
applicable bankruptcy, insolvency, fraudulent conveyance or similar laws affecting the enforcement of creditors’ rights
generally and subject to general principles of equity (regardless of whether enforcement is sought in a proceeding at law or
in equity).

 

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2.2.2 No
Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company of the
transactions contemplated hereby do not violate, conflict with or constitute a default under (i) the Charter or bylaws of the
Company, (ii) any agreement, indenture or instrument to which the Company is a party or (iii) any law, statute, rule or
regulation to which the Company is subject, or any agreement, order, judgment or decree to which the Company is subject.

 

2.2.3 Title
to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Charter, the
Securities will be duly and validly issued, fully paid and non assessable. Upon issuance in accordance with, and payment
pursuant to, the terms hereof and the Charter, the Subscriber will have or receive good title to the Securities, free and
clear of all liens, claims and encumbrances of any kind, other than (a) transfer restrictions hereunder and under the other
agreements to which the Securities may be subject, (b) transfer restrictions under federal and state securities laws, and (c)
liens, claims or encumbrances imposed due to the actions of the Subscriber.

 

2.2.4 No
Adverse Actions. There are no actions, suits, investigations or proceedings pending, threatened against or affecting the
Company which: (i) seek to restrain, enjoin, prevent the consummation of or otherwise affect the transactions contemplated by
this Agreement or (ii) question the validity or legality of any transactions or seeks to recover damages or to obtain other
relief in connection with any transactions.

 

2.2.5 Authorization.
The shares of Class A Common Stock issuable upon conversion of the Shares have been duly authorized and reserved for
issuance upon such conversion.

 

3.
Forfeiture of Shares.

 

3.1 Partial
or No Exercise of the Over-allotment Option. In the event the Over-allotment Option
granted to the underwriters of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if
applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate
of 937,500 Shares (as such amount may be adjusted for share splits, share dividends, reorganizations, recapitalizations and
the like) and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such
forfeiture, the Subscriber (and any such transferees) will own an aggregate number of Shares equal to 20% of the issued and
outstanding Common Stock immediately following the IPO.

 

3.2 Termination
of Rights as Stockholder. If any of the Shares are forfeited in accordance with this
Section 3, then after such time the Subscriber (or successor in interest), shall no longer have any rights as a holder of
such forfeited Shares, and the Company shall take such action as is appropriate to cancel such forfeited Shares.

 

3.3 Share
Certificates. In the event an adjustment to the Original Certificates, if any, is required
pursuant to this Section 3, then the Subscriber shall return such Original Certificates to the Company or its designated
agent as soon as practicable upon its receipt of notice from the Company advising the Subscriber of such
adjustment, following which a new certificate (the “New Certificate”), if any, shall be issued in
such amount representing the adjusted number of Shares held by the Subscriber. The New Certificate, if any, shall be returned
to the Subscriber as soon as practicable. Any such adjustment for any uncertificated securities held by the Subscriber shall
be made in book-entry form.

 

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4. WAIVER OF LIQUIDATION
DISTRIBUTIONS; REDEMPTION RIGHTS. In connection with the Shares purchased pursuant to this Agreement,
the Subscriber hereby waives any and all right, title, interest or claim of any kind in or to any distributions by the Company
from the trust account which will be established for the benefit of the Company’s public stockholders and into which substantially
all of the proceeds of the IPO will be deposited (the “Trust Account”), in the event of a liquidation
of the Company upon the Company’s failure to timely complete an initial business combination. For purposes of clarity, in
the event the Subscriber purchases securities in the IPO or in the aftermarket, any Class B Common Stock so purchased shall be
eligible to receive any liquidating distributions by the Company. However, in no event will the Subscriber have the right to redeem
any shares of Common Stock held by it into funds held in the Trust Account upon the successful completion of an initial business
combination.

  

5.
Restrictions on Transfer.

 

5.1 Securities
Law Restrictions. In addition to any restrictions to be contained in that certain letter
agreement (commonly known as an “Insider Letter”) dated on or prior to the closing of the IPO by
and between the Subscriber and the Company, the Subscriber agrees not to sell, transfer, pledge, hypothecate or otherwise
dispose of all or any part of the Securities unless, prior thereto (a) a registration statement on the appropriate form under
the Securities Act and applicable state securities laws with respect to the Securities proposed to be transferred shall then
be effective or (b) the Company has received an opinion from counsel reasonably satisfactory to the Company, that such
registration is not required because such transaction is exempt from registration under the Securities Act and the rules
promulgated by the Securities and Exchange Commission thereunder and with all applicable state securities laws.

 

5.2 Lock-up.
The Subscriber acknowledges that the Securities will be subject to lock-up provisions (the
“Lock-up”) contained in the Insider Letter.

 

5.3 Restrictive
Legends. All certificates representing the Securities shall have endorsed thereon legends
substantially as follows:

 

“THE SECURITIES REPRESENTED HEREBY
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS AND NEITHER THE SECURITIES
NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL
(IF THE COMPANY SO REQUESTS), IS AVAILABLE.”

 

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“THE SECURITIES REPRESENTED BY
THIS CERTIFICATE ARE SUBJECT TO A LOCKUP AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE TERM
OF THE LOCKUP.”

 

5.4 Additional
Shares or Substituted Securities. In the event of the declaration of a share dividend, the
declaration of an extraordinary dividend payable in a form other than Common Stock, a spin-off, a share split, an adjustment
in conversion ratio, a recapitalization or a similar transaction affecting the Company’s outstanding Common Stock
without receipt of consideration, any new, substituted or additional securities or other property which are by reason of such
transaction distributed with respect to any Securities subject to this Section 5 or into which such Securities thereby become
convertible shall immediately be subject to this Section 5 and Section 3. Appropriate adjustments to reflect the
distribution of such securities or property shall be made to the number and/or class of Securities subject to this Section 5
and Section 3.

 

5.5 Registration
Rights. The Subscriber acknowledges that the Shares are being purchased pursuant to an
exemption from the registration requirements of the Securities Act and will become freely tradable only after certain
conditions are met or they are registered pursuant to a registration rights agreement to be entered into with the Company
prior to the closing of the IPO (the “Registration Rights Agreement”).

 

6.
Other Agreements.

 

6.1 Further
Assurances. The Subscriber agrees to execute such further instruments and to take such
further action as may reasonably be necessary to carry out the intent of this Agreement.

 

6.2 Notices.
All notices, statements or other documents which are required or contemplated by this Agreement shall be in writing and
delivered (i) personally or sent by first class registered or certified mail, overnight courier service or facsimile or
electronic transmission to the address designated in writing, (ii) by facsimile to the number most recently provided to such
party or such other address or fax number as may be designated in writing by such party or (iii) by electronic mail, to the
electronic mail address most recently provided to such party or such other electronic mail address as may be designated in
writing by such party. Any notice or other communication so transmitted shall be deemed to have been given on the day of
delivery, if delivered personally, on the business day following receipt of written confirmation, if sent by facsimile or
electronic transmission, one (1) business day after delivery to an overnight courier service or five (5) days after mailing
if sent by mail.

 

6.3 Entire
Agreement. This Agreement, together with the Insider Letter and the Registration Rights
Agreement, each substantially in the form to be filed as an exhibit to the Registration Statement on Form S-1 associated with
the IPO, embodies the entire agreement and understanding between the Subscriber and the Company with respect to the subject
matter hereof and supersedes all prior oral or written agreements and understandings relating to the subject matter
hereof.

 

6.4 Modifications
and Amendments. The terms and provisions of this Agreement may be modified or amended only
by written agreement executed by all parties hereto.

 

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6.5 Waivers
and Consents. The terms and provisions of this Agreement may be waived, or consent for the
departure therefrom granted, only by written document executed by the party entitled to the benefits of such terms or
provisions. No such waiver or consent shall be deemed to be or shall constitute a waiver or consent with respect to any other
terms or provisions of this Agreement, whether or not similar. Each such waiver or consent shall be effective only in the
specific instance and for the purpose for which it was given, and shall not constitute a continuing waiver or
consent.

 

6.6 Assignment.
The rights and obligations under this Agreement may not be assigned by either party hereto without the prior written consent
of the other party.

 

6.7 Benefit.
All statements, representations, warranties, covenants and agreements in this Agreement shall be binding on the parties
hereto and shall inure to the benefit of the respective successors and permitted assigns of each party hereto. Nothing in
this Agreement shall be construed to create any rights or obligations except among the parties hereto, and no person or
entity shall be regarded as a third-party beneficiary of this Agreement.

 

6.8 Governing
Law. This Agreement and the rights and obligations of the parties hereunder shall be
construed in accordance with and governed by the laws of New York applicable to contracts wholly performed within the borders
of such state, without giving effect to the conflict of law principles thereof.

 

6.9 Severability.
In the event that any court of competent jurisdiction shall determine that any provision, or any portion thereof, contained
in this Agreement shall be unreasonable or unenforceable in any respect, then such provision shall be deemed limited to the
extent that such court deems it reasonable and enforceable, and as so limited shall remain in full force and effect. In the
event that such court shall deem any such provision, or portion thereof, wholly unenforceable, the remaining provisions of
this Agreement shall nevertheless remain in full force and effect.

 

6.10 No
Waiver of Rights, Powers and Remedies. No failure or delay by a party hereto in exercising
any right, power or remedy under this Agreement, and no course of dealing between the parties hereto, shall operate as a
waiver of any such right, power or remedy of such party. No single or partial exercise of any right, power or remedy under
this Agreement by a party hereto, nor any abandonment or discontinuance of steps to enforce any such right, power or remedy,
shall preclude such party from any other or further exercise thereof or the exercise of any other right, power or remedy
hereunder. The election of any remedy by a party hereto shall not constitute a waiver of the right of such party to pursue
other available remedies. No notice to or demand on a party not expressly required under this Agreement shall entitle the
party receiving such notice or demand to any other or further notice or demand in similar or other circumstances or
constitute a waiver of the rights of the party giving such notice or demand to any other or further action in any
circumstances without such notice or demand. Notwithstanding anything appearing to the contrary in this Agreement, no
affiliate of the Company or the Subscriber, nor any direct or indirect partner, member or shareholder of the Company or the
Subscriber, nor any affiliate of the Company or the Subscriber (or any officer, director, agent, manager, personal
representative, trustee or employee of the Company or the Subscriber, any affiliate of the Company or the Subscriber or any
such direct or indirect partner, member or shareholder of the Company or the Subscriber) shall be liable for the performance
or non-performance of the Company’s or the Subscriber’s obligations under this Agreement.

 

    7

     

    

 

6.11 Survival
of Representations and Warranties. All representations and warranties made by the parties
hereto in this Agreement or in any other agreement, certificate or instrument provided for or contemplated hereby, shall
survive the execution and delivery hereof and any investigations made by or on behalf of the parties.

 

6.12 No
Broker or Finder. Each of the parties hereto represents and warrants to the other that no
broker, finder or other financial consultant has acted on its behalf in connection with this Agreement or the transactions
contemplated hereby in such a way as to create any liability on the other. Each of the parties hereto agrees to indemnify and
save the other harmless from any claim or demand for commission or other compensation by any broker, finder, financial
consultant or similar agent claiming to have been employed by or on behalf of such party and to bear the cost of legal
expenses incurred in defending against any such claim.

 

6.13 Headings
and Captions. The headings and captions of the various subdivisions of this Agreement are
for convenience of reference only and shall in no way modify or affect the meaning or construction of any of the terms or
provisions hereof.

 

6.14 Counterparts.
This Agreement may be executed in one or more counterparts, all of which when taken together shall be considered one and the
same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party,
it being understood that both parties need not sign the same counterpart. In the event that any signature is delivered by
facsimile transmission or any other form of electronic delivery, such signature shall create a valid and binding obligation
of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such signature
page were an original thereof.

 

6.15 Construction.
The parties hereto have participated jointly in the negotiation and drafting of this Agreement. If an ambiguity or question
of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties hereto and no
presumption or burden of proof will arise favoring or disfavoring any party hereto because of the authorship of any provision
of this Agreement. The words “include,” “includes,” and “including”
will be deemed to be followed by “without limitation.” Pronouns in masculine, feminine, and neuter genders
will be construed to include any other gender, and words in the singular form will be construed to include the plural and
vice versa, unless the context otherwise requires. The words “this Agreement,”
“herein,” “hereof,” “hereby,” “hereunder,” and
words of similar import refer to this Agreement as a whole and not to any particular subdivision unless expressly so limited.
The parties hereto intend that each representation, warranty, and covenant contained herein will have independent
significance. If any party hereto has breached any representation, warranty, or covenant contained herein in any respect, the
fact that there exists another representation, warranty or covenant relating to the same subject matter (regardless of the
relative levels of specificity) which such party hereto has not breached will not detract from or mitigate the fact that such
party hereto is in breach of the first representation, warranty, or covenant.

 

    8

     

    

 

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

 

7. VOTING AND
TENDER OF SHARES. The Subscriber agrees to vote the Shares in favor of an initial business
combination that the Company negotiates and submits for approval to the Company’s stockholders and shall not seek redemption
with respect to any of the Shares. Additionally, the Subscriber agrees not to tender any Shares in connection with a tender offer
presented to the Company’s stockholders in connection with an initial business combination negotiated by the Company.

 

8. INDEMNIFICATION. Each
party shall indemnify the other against any loss, cost or damages (including reasonable attorney’s fees and expenses)
incurred as a result of such party’s breach of any representation, warranty, covenant or agreement in this
Agreement.

 

 

[Signature Page Follows]

 

    9

     

    

 

If the foregoing accurately sets forth our
understanding and agreement, please sign the enclosed copy of the Agreement and return it to us.

 

	 	Very truly yours,
	 	 
	 	RXR ACQUISITION CORP.
	 	 	 
	 	By:	/s/ Jason Barnett
	 	Name: 	Jason Barnett
	 	Title:	Director

 

	RXR ACQUISITION SPONSOR LLC	 
	 	 
	By:	RXR Properties Holdings, LLC, as sole member	 
	 	 	 	 
	By: 	/s/ Jason Barnett	 
	 	Name:	Jason Barnett	 
	 	Title:	Authorized Signatory	 

 

 

[Signature page
to Subscription Agreement]

 

    10

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