Document:

Exhibit 10.4

 

SHAREHOLDER SUPPORT AGREEMENT

 

This Shareholder Support Agreement
(this “Agreement”) is dated as of January 20, 2022, by and among Cohn Robbins Holdings Corp., a Cayman Islands exempted
company limited by shares (“Acquiror”), KKCG AG, a Swiss stock corporation (Aktiengesellschaft) (the “Company
Shareholder”), Allwyn Entertainment AG, a Swiss stock corporation (Aktiengesellschaft) (“Swiss NewCo”)
and SAZKA Entertainment AG, a Swiss stock corporation (Aktiengesellschaft) (the “Company”). Capitalized terms
used but not defined herein shall have the respective meanings ascribed to such terms in the Business Combination Agreement (as defined
below).

 

RECITALS

 

WHEREAS, as of the date
hereof, the Company Shareholder is a holder of record and “beneficial owner” (within the meaning of Rule 13d-3 of the Exchange
Act) of 10,010,000 shares of Company Capital Stock and 10,000,000 Swiss NewCo Ordinary Shares (all such shares of Company Capital Stock
or Swiss NewCo Ordinary Shares, as applicable, together with any shares of Company Capital Stock or Swiss NewCo Ordinary Shares that are
hereafter acquired by the Company Shareholder during the period from the date hereof through the Expiration Time are referred to herein
as the “Subject Shares”);

 

WHEREAS, on January 20,
2022, Acquiror, Swiss NewCo, Allwyn US Holdco LLC, a Delaware limited liability company and direct wholly owned subsidiary of Swiss NewCo
(“US HoldCo”), Allwyn Sub LLC, a Delaware limited liability company and a direct wholly owned subsidiary of US HoldCo
(“DE Merger Sub”), and the Company entered into a Business Combination Agreement
(as amended or modified from time to time, the “Business Combination Agreement”), pursuant to which the parties thereto
will consummate the Transactions on the terms and subject to the conditions set forth therein, including the merger of Acquiror with and
into DE Merger Sub, with DE Merger Sub as the surviving company in the Merger (the “Merger” and any other documentation
required to effect the Merger, the “Merger Documents”);

 

WHEREAS, as an inducement
to Acquiror, Swiss NewCo and the Company to enter into the Business Combination Agreement and to consummate the Transactions, the parties
hereto desire to agree to certain matters as set forth herein.

 

AGREEMENT

 

NOW, THEREFORE, in consideration
of the foregoing and the mutual agreements contained herein, and intending to be legally bound hereby, the parties hereto hereby agree
as follows:

 

ARTICLE
I

sHAREHOLDER SUPPORT AGREEMENT; COVENANTS

 

Section 1.1  Binding
Effect of Business Combination Agreement. The Company Shareholder hereby acknowledges that it has read the Business Combination
Agreement and this Agreement and has had the opportunity to consult with its tax and legal advisors. The Company Shareholder shall
be bound by and comply with Section 7.5 (Acquisition Proposals) and 12.12 (Publicity) of the Business Combination
Agreement (and any relevant definitions contained in any such Sections) as if (a) the Company Shareholder was an original
signatory to the Business Combination Agreement with respect to such provisions, and (b) each reference to the “Company”
contained in Section 7.5 of the Business Combination Agreement (other than Section 7.5(a) or Section 7.5(c) or for purposes of the
definition of Acquisition Proposal) also referred to the Company Shareholder and as if such clauses were incorporated in this
Agreement (and therefore subject to all other provisions of this Agreement, including Section 3.2 and 3.3). For the avoidance of
doubt, the foregoing extension to the Company Shareholder only relates to obligations of the Company, and not to any of the rights
afforded to the Company which shall only be exercisable by the Company (and not by the Company Shareholder).

 

     

     

    

 

Section 1.2
No Transfer. Except as expressly contemplated by the Business Combination Agreement, during the period commencing on the
date hereof and ending on the earlier to occur of (a) the Acquisition Effective Time and (b) such date and time as the Business
Combination Agreement shall be terminated in accordance with Section 11.1 thereof (the “Expiration Time”), the Company
Shareholder shall not (i) sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any option to purchase or otherwise
dispose of or agree to dispose of, directly or indirectly, file (or participate in the filing of) a registration statement with the SEC
(other than the Registration Statement) or establish or increase a put equivalent position or liquidate or decrease a call equivalent
position within the meaning of Section 16 of the Exchange Act, with respect to any Subject Shares, (ii) enter into any swap or other
arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Subject Shares (clauses
(i) and (ii) collectively, a “Transfer”) or (iii) publicly announce any intention to effect any transaction
specified in clause (i) or (ii).

 

Section 1.3
New Shares. In the event that, during the period commencing on the date hereof and ending at the Expiration Time, (a) any
Subject Shares are issued to the Company Shareholder after the date of this Agreement pursuant to any stock dividend, stock split, recapitalization,
reclassification, combination or exchange of Subject Shares or otherwise, (b) a Company Shareholder purchases or otherwise acquires
beneficial ownership of any Subject Shares or (c) the Company Shareholder acquires the right to vote any Subject Shares (collectively
the “New Securities”), then such New Securities acquired or purchased by the Company Shareholder shall be subject to
the terms of this Agreement to the same extent as if they constituted the Subject Shares owned by the Company Shareholder as of the date
hereof.

 

Section 1.4
Shareholder Agreements:

 

The Company Shareholder undertakes:

 

(a)
to approve and adopt, as applicable and as a holder of the Subject Shares, the Business Combination Agreement, the Merger Documents,
the Company Share Contribution and the Transactions;

 

(b) in any other
circumstances upon which a consenting vote or other approval of the Company Shareholder is required under the Company’s
Governing Documents or Swiss NewCo’s Governing Documents or otherwise sought with respect to the Business Combination
Agreement, the Merger Documents, the Company Share Contribution or the Transactions, to exercise its shareholder rights and vote,
consent or approve (or cause to be voted, consented or approved) all of the Company Shareholder’s Subject Shares held at such
time in favor thereof;

 

    2

     

    

 

(c)
to exercise its shareholder rights and vote against any merger, purchase of all or substantially all of the Company’s or
Swiss NewCo’s, as applicable, assets or other business combination transaction (other than the Business Combination Agreement, the
Merger Documents, the Company Share Contribution and the Transactions); and

 

(d)
to exercise its shareholder rights and vote against any proposal, action or agreement that would (i) reasonably be expected to
impede, interfere with, delay, postpone, nullify or adversely affect the Transactions, or (ii) would result in the failure of any condition
set forth in Article X of the Business Combination Agreement or the Merger Documents, once agreed, to be satisfied, or result in a breach
of any covenant, representation or warranty or other obligation or agreement of the Company Shareholder, or an obligation or agreement
of the Company or Swiss NewCo under the Business Combination Agreement or Merger Documents.

 

The Company Shareholder hereby
agrees that it shall not commit or agree to take any action inconsistent with the foregoing.

 

Section 1.5
No Challenges. The Company Shareholder agrees not to commence, join in, facilitate, assist or encourage, and agrees to take
all actions necessary to opt out of any class in any class action with respect to, any claim, derivative or otherwise, against Acquiror,
Swiss NewCo, US HoldCo, DE Merger Sub, the Company or any of their respective successors or directors (a) challenging the validity
of, or seeking to enjoin the operation of, any provision of this Agreement or (b) alleging a breach of any fiduciary duty of any
person in connection with the evaluation, negotiation or entry into the Business Combination Agreement or the Merger Documents.

 

Section 1.6
Affiliate Agreements. The Company Shareholder hereby agrees and consents to the termination of all Affiliate Agreements
set forth on Section 7.4 of the Company Disclosure Letter to which the Company Shareholder is a party, effective as of the Merger Effective
Time without any further liability or obligation to the Company, the Company’s Subsidiaries, Swiss NewCo or Acquiror.

 

Section 1.7 Registration
Rights Agreement. The Company Shareholder will deliver, substantially simultaneously with the Acquisition Effective Time, a
duly-executed copy of the Amended and Restated Registration Rights Agreement substantially in the form attached as Exhibit B to the
Business Combination Agreement.

 

Section 1.8
Relationship Agreement. The Company Shareholder will deliver, substantially simultaneously with the Acquisition Effective
Time, a duly-executed copy of the Relationship Agreement substantially in the form attached as Exhibit A to the Business Combination Agreement.

 

    3

     

    

 

Section 1.9 Further
Assurances. Without expanding or modifying any party’s obligations under the Business Combination Agreement, the Company
Shareholder shall execute and deliver, or cause to be delivered, such additional documents, and take, or cause to be taken, all such
further actions and do, or cause to be done, all things reasonably necessary (including under applicable Laws) or reasonably
requested by Acquiror or the Company to effect the transactions contemplated by this Agreement, the Company Share Contribution and
consummate the Acquisition Transfer, in each case, on the terms and subject to the terms and conditions set forth therein and
herein, as applicable.

 

Section 1.10 No
Inconsistent Agreement. The Company Shareholder hereby represents and covenants that the Company Shareholder has not entered
into, and shall not enter into, any agreement or effect any transaction that would reasonably be expected to restrict, materially
delay or prohibit the performance of the Company Shareholder’s obligations hereunder.

 

Section 1.11 Consent to
Disclosure. The Company Shareholder hereby consents to the publication and disclosure in the Registration Statement (and, as and
to the extent otherwise required by applicable securities Laws or the SEC or any other securities authorities, any other documents
or communications provided by Swiss NewCo or the Company to any Governmental Authority) of the Company Shareholder’s identity
and beneficial ownership of Subject Shares and the nature of the Company Shareholder’s commitments, arrangements and
understandings under and relating to this Agreement and, if deemed appropriate by Swiss NewCo or the Company, a copy of this
Agreement. The Company Shareholder will promptly provide any relevant information reasonably requested by Acquiror, Swiss NewCo or
the Company for any regulatory application or filing made or approval sought in connection with the Transaction (including filings
with the SEC).

 

ARTICLE
II

REPRESENTATIONS AND WARRANTIES

 

Section 2.1 Representations
and Warranties of the Company Shareholders. The Company Shareholder represents and warrants as of the date hereof to
Acquiror, Swiss NewCo and the Company (solely with respect to itself, himself or herself and not with respect to any other Company Shareholder)
as follows:

 

(a)
Organization; Due Authorization. The Company Shareholder is duly organized, validly existing and in good standing under
the Laws of the jurisdiction in which it is incorporated, formed, organized or constituted, and the execution, delivery and performance
of this Agreement and the consummation of the transactions contemplated hereby are within the Company Shareholder’s corporate powers
and have been duly authorized by all necessary corporate actions on the part of the Company Shareholder. This Agreement has been duly
executed and delivered by the Company Shareholder and, assuming due authorization, execution and delivery by the other parties to this
Agreement, this Agreement constitutes a legally valid and binding obligation of the Company Shareholder, enforceable against the Company
Shareholder in accordance with the terms hereof (except as enforceability may be limited by bankruptcy Laws, other similar Laws affecting
creditors’ rights and general principles of equity affecting the availability of specific performance and other equitable remedies).
If this Agreement is being executed in a representative or fiduciary capacity, the Person signing this Agreement has full power and authority
to enter into this Agreement on behalf of the Company Shareholder.

 

    4

     

    

 

(b) Ownership. Except
as described on Section 4.6(a) of the Company Disclosure Letter, the Company Shareholder is the record and beneficial owner (as defined
in the Securities Act) of, and has full legal title to, all of the Company Shareholder’s Subject Shares, and there exist no Liens
or any other limitation or restriction (including any restriction on the right to vote, sell or otherwise dispose of such Subject Shares
(other than transfer restrictions under the Securities Act or under the articles of association of the Swiss NewCo and the Company))
affecting any such Subject Shares, other than Liens or general transfer restrictions pursuant to (i) this Agreement, (ii) the
Company’s Governing Documents or Swiss NewCo’s Governing Documents, (iii) the Business Combination Agreement, (iv) the
Merger Documents or (v) any applicable securities Laws. The Company Shareholder’s Subject Shares are the only equity securities
in the Company and Swiss NewCo, as applicable, owned of record or beneficially by the Company Shareholder on the date of this Agreement,
and none of the Company Shareholder’s Subject Shares are subject to any proxy, voting trust or other agreement or arrangement with
respect to the voting of such Subject Shares.

 

(c) No Conflicts. Except
as described in Section 4.5 of the Company Disclosure Letter ̧ the execution and delivery of this Agreement by the Company Shareholder
does not, and the performance by the Company Shareholder of its obligations hereunder will not, (i) conflict with or result in a violation
of the organizational documents of the Company Shareholder or require any consent thereunder from any Person or (ii) require any
consent or approval that has not been given by any Governmental Authority or under any Contract binding upon the Company Shareholder
or the Company Shareholder’s Subject Shares to the extent such consent, approval or other action would prevent, enjoin or materially
delay the performance by the Company Shareholder of its obligations under this Agreement.

 

(d)
Litigation. There are no Actions pending against the Company Shareholder, or to the knowledge of the Company Shareholder,
threatened against the Company Shareholder, before (or, in the case of threatened Actions, that would be, or would reasonably be expected
to be, before) any arbitrator or any Governmental Authority, which in any manner challenges or seeks to prevent, enjoin or materially
delay the performance by the Company Shareholder of its obligations under this Agreement.

 

(e)
Adequate Information. The Company Shareholder is a sophisticated shareholder and has adequate information concerning the
business and financial condition of Acquiror and the Company to make an informed decision regarding this Agreement and the Transactions
and has independently and without reliance upon Acquiror or the Company and based on such information as the Company Shareholder has deemed
appropriate, made its own analysis and decision to enter into this Agreement. The Company Shareholder acknowledges that Acquiror, Swiss
NewCo and the Company have not made and do not, and the Company Shareholder has not relied on, make any representation or warranty, whether
express or implied, of any kind or character except as expressly set forth in this Agreement. The Company Shareholder acknowledges that
the agreements contained herein with respect to the Subject Shares held by the Company Shareholder are irrevocable.

 

(f)
Brokerage Fees. Except as described on Section 4.16 of the Company Disclosure Letter, no broker, finder, investment banker
or other Person is entitled to any brokerage fee, finders’ fee or other commission in connection with the transactions contemplated
by the Business Combination Agreement based upon arrangements made by the Company Shareholder, for which the Company or any of its Affiliates
may become liable.

 

(g)
 Acknowledgment. The Company Shareholder understands and acknowledges that each of Acquiror, Swiss NewCo and the Company
is entering into the Business Combination Agreement in reliance upon the Company Shareholder’s execution and delivery of this Agreement.

 

    5

     

    

 

ARTICLE
III

MISCELLANEOUS

 

Section 3.1
Termination. This Agreement and all of its provisions shall terminate and be of no further force or effect upon the earlier
of (a) the Expiration Time and (b) as to the Company Shareholder, the written agreement of Acquiror, Swiss NewCo, the Company
and the Company Shareholder. Upon such termination of this Agreement, all obligations of the parties under this Agreement will terminate,
without any liability or other obligation on the part of any party hereto to any Person in respect hereof or the transactions contemplated
hereby, and no party hereto shall have any claim against another (and no person shall have any rights against such party), whether under
contract, tort or otherwise, with respect to the subject matter hereof; provided, however, that the termination of this
Agreement shall not relieve any party hereto from liability arising in respect of any breach of this Agreement prior to such termination.
This Article III shall survive the termination of this Agreement.

 

Section 3.2
Governing Law. This Agreement shall be governed by, and construed in accordance with, the substantive laws of Switzerland,
excluding its rules on conflict of laws and excluding international treaties (in particular the Vienna Convention on the International
Sale of Goods dated 11 April 1980; CISG).

 

Section 3.3
Jurisdiction. Any dispute arising out of or in connection with this Agreement, including disputes on its conclusion, binding
effect, amendment and termination, shall be exclusively resolved by the ordinary courts of the City of Lucerne, Switzerland.

 

Section 3.4 Assignment.
This Agreement and all of the provisions hereof will be binding upon and inure to the benefit of the parties hereto and their
respective heirs, successors and permitted assigns. Neither this Agreement nor any of the rights, interests or obligations hereunder
will be assigned (including by operation of law) without the prior written consent of the parties hereto.

 

Section 3.5
Severability. If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction,
the other provisions of this Agreement will remain in full force and effect. Any provision of this Agreement held invalid or unenforceable
only in part or degree will remain in full force and effect to the extent not held invalid or unenforceable.

 

Section 3.6
Specific Performance. The parties hereto acknowledge that irreparable damage may occur in the event that any of the provisions
of this 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 Agreement and to enforce specifically
the terms and provisions of this Agreement, this being in addition to any other remedy to which such party is entitled to.

 

Section 3.7 Amendment;
Waiver. This Agreement may only be amended, changed, supplemented, waived or otherwise modified or terminated by the execution
and delivery of a written agreement signed by Acquiror, Swiss NewCo, the Company and the Company Shareholders.

 

    6

     

    

 

Section 3.8
Notices. All notices and other communications among the parties hereto shall be in writing or in the form of text (i.e.,
without physical signature required) and shall be deemed to have been duly given (a) when delivered in person, (b) when delivered after
posting in the United States mail having been sent registered or certified mail return receipt requested, postage prepaid, (c) when delivered
by FedEx or other nationally recognized overnight delivery service or (d) when e-mailed during normal business hours (and otherwise as
of the immediately following Business Day), addressed as follows:

 

	 	If to Acquiror:
	 	 
	 	Cohn Robbins Holdings Corp.
	 	1000 N. West Street
	 	Wilmington, Delaware 19801
	 	Attention:	Charles Kwon
	 	Email:	charles@cohnrobbins.com
	 	 	 
	 	with a copy to (which will not constitute notice):
	 	 
	 	Skadden, Arps, Slate, Meagher & Flom LLP
	 	One Manhattan West
	 	New York, New York 10001
	 	Attention:	Howard L. Ellin
	 	 	June S. Dipchand
	 	Email:	howard.ellin@skadden.com
	 	 	june.dipchand@skadden.com
	 	 	 
	 	If to the Company:
	 	 
	 	SAZKA Entertainment AG
	 	Weinmarkt 9
	 	6004 Luzern
	 	Attention: 	Pascal Genoud
	 	 	Katarina Kohlmayer
	 	 	Jonathan Handyside
	 	Email:	pascal.genoud@allwynent.com
	 	 	katarina.kohlmayer@kkcg.com
	 	 	jonathan.handyside@allwynent.com

 

    7

     

    

 

	 	with a copy to (which shall not constitute notice):
	 	 
	 	Kirkland & Ellis LLP
	 	601 Lexington Ave
	 	New York, New York 10022
	 	Attention:	Jonathan L. Davis
	 	 	Steven Y. Li
	 	 	Peter Seligson
	 	Email:	jonathan.davis@kirkland.com
	 	 	steven.li@kirkland.com
	 	 	peter.seligson@kirkland.com
	 	 	 
	 	If to the Company Shareholder:
	 	 
	 	KKCG AG
	 	Kappelgasse 21
	 	6004 Luzern
	 	Attention:	Josef Bartos
	 	Email:	josef.bartos@kkcg.com
	 	 	 
	 	with a copy to (which will not constitute notice):
	 	 
	 	Kirkland & Ellis LLP
	 	601 Lexington Ave
	 	New York, New York 10022
	 	Attention:	Jonathan L. Davis
	 	 	Steven Y. Li
	 	 	Peter Seligson
	 	Email:	jonathan.davis@kirkland.com
	 	 	steven.li@kirkland.com
	 	 	peter.seligson@kirkland.com

 

Section 3.9
Form, Counterparts. This Agreement shall be made in writing (Schriftform) and may be executed in two or more counterparts
(any of which may be delivered by electronic transmission, including by DocuSign, portable document format or similar electronic means),
each of which shall constitute an original, and all of which taken together shall constitute one and the same instrument.

 

Section 3.10     
Entire Agreement. This Agreement and the agreements referenced herein constitute the entire agreement and understanding
of the parties hereto in respect of the subject matter hereof and supersede all prior understandings, agreements or representations by
or among the parties hereto to the extent they relate in any way to the subject matter hereof.

 

[Remainder of page intentionally left
blank]

 

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IN WITNESS WHEREOF, the Company
Shareholder, Acquiror, Swiss NewCo and the Company have each caused this Shareholder Support Agreement to be duly executed as of the date
first written above.

 

	 	COMPANY SHAREHOLDER:
	 	 	 	 
	 	KKCG AG
	 	 	 	 
	 	By:	/s/ Pavel Saroch
	 	 	Name: 	Pavel Saroch
	 	 	Title:	Vice Chairman of the Board of Directors
	 	 	 	 
	 	By:	/s/ Katarina Kohlmayer
	 	 	Name: 	Katarina Kohlmayer
	 	 	Title:	Authorized Person

 

[Signature Page to Shareholder Support Agreement]

 

     

     

    

 

	 	ACQUIROR:
	 	 	 	 
	 	COHN ROBBINS HOLDINGS CORP.
	 	 	 	 
	 	By:	/s/ Clifton S. Robbins

	 	 	Name: 	Clifton S. Robbins

	 	 	Title:	Co-Chairman

 

[Signature Page to Shareholder Support Agreement]

 

     

     

    

 

	 	COMPANY:
	 	 	 	 
	 	SAZKA ENTERTAINMENT AG
	 	 	 	 
	 	By:	/s/ Robert Chvatal
	 	 	Name:	 Robert Chvatal
	 	 	Title:	Authorized Signatory
	 	 	 	 
	 	By:	/s/ Jan Matuska
	 	 	Name:  	Jan Matuska
	 	 	Title:	Authorized Signatory

 

[Signature Page to Shareholder Support Agreement]

 

     

     

    

 

	 	SWISS NEWCO:
	 	 	 	 
	 	ALLWYN ENTERTAINMENT AG
	 	 	 	 
	 	By:	/s/ Robert Chvatal
	 	 	Name:	Robert Chvatal
	 	 	Title:	Member of the Board of Directors
	 	 	 	 
	 	By:	/s/ Jan Matuska
	 	 	Name:	Jan Matuska
	 	 	Title:	Member of the Board of Directors

 

[Signature Page to Shareholder Support Agreement]Exhibit 10.5

 

SUBSCRIPTION AGREEMENT

 

This SUBSCRIPTION AGREEMENT
(this “Subscription Agreement”) is entered into on January 20, 2022, by and between Cohn Robbins Holdings Corp., a
Cayman Islands exempted company limited by shares (“SPAC”), Allwyn Entertainment AG, a Swiss stock corporation (Aktiengesellschaft)
with registered office at c/o SAZKA Entertainment AG, Weinmarkt 9, 6004 Lucerne, Switzerland and registered in the commercial register
Lucerne under registration number CHE- 157.119.805 (“Issuer”) and the undersigned subscriber (the “Investor”).

 

WHEREAS, this Subscription
Agreement is being entered into in connection with the Business Combination Agreement, dated as of the date hereof (as may be amended,
supplemented or otherwise modified from time to time, the “Transaction Agreement”), by and among SPAC, Issuer, Allwyn
US Holdco LLC, a Delaware limited liability company and a wholly owned subsidiary of Issuer (the “Intermediate HoldCo”),
Allwyn Sub LLC, a Delaware limited liability company and a wholly owned subsidiary of Intermediate HoldCo (“Merger Sub”),
and SAZKA Entertainment AG (the “Company”), pursuant to which, among other things, (i) SPAC will merge with and into
Merger Sub, with Merger Sub as the surviving company in the merger (the “Company Merger”) and, after giving effect
to such merger, becoming a direct or indirect wholly owned subsidiary of Issuer and, as a result
of such merger, the shareholders of SPAC will be entitled to receive the Class B Ordinary Shares (as defined below) and (ii) following
consummation of the Company Merger, KKCG AG, a Swiss stock corporation and the majority shareholder of the Company, will exchange its
shares in the capital of the Company for a combination of cash, Class A Ordinary Shares (defined below) and Class B Ordinary Shares
(defined below), following which the Company shall become a wholly-owned subsidiary of the Issuer, on the terms and subject to the conditions
therein (all of the foregoing, the “Transaction”);

 

WHEREAS, upon Closing, the
Issuer will have issued two classes of ordinary shares: the Class A ordinary shares, nominal value CHF 0.01 per share (the “Class
A Ordinary Shares”), and the Class B ordinary shares, nominal value CHF 0.04 per share (the “Class B Ordinary Shares”
or the “Shares”). The Class A Ordinary Shares and the Class B Ordinary Shares are each entitled to one vote per share,
however, owing to the differences in nominal value, holders of Class A Ordinary Shares will have four times as many shares for a given
economic holding in Issuer than the holders of the Class B Ordinary Shares. As a consequence, the holders of the Class A Ordinary
Shares will have four times the voting power of the Class B Ordinary Shares. Upon completion of the Transaction, the Class B Ordinary
Shares will be listed for trading upon the New York Stock Exchange and the Class A Ordinary Shares will not be listed;

 

WHEREAS, in connection with
the Transaction, Issuer is seeking commitments from interested investors to purchase, substantially concurrently with the Company Merger
and closing of the Transaction, Class B Ordinary Shares in a private placement for a purchase price of $10.00 per share (the “Per
Base Share Subscription Price”);

 

WHEREAS, in connection with
the SPAC merging with and into Merger Sub, the Issuer will issue a number of Class B Ordinary Shares to an exchange agent (the “Exchange
Agent”);

 

WHEREAS, subject to the terms
and conditions of this Subscription Agreement, the Investor desires to acquire from Issuer in exchange for a cash contribution, and Issuer
desires to provide to the Investor, the number of Shares (the “Subscription Shares”) equal to (x) the number of Base
Shares (as defined and set forth on the signature page of this Subscription Agreement) multiplied by (y) 1.08;

 

WHEREAS, the aggregate purchase
price to be paid and contributed by the Investor for the Subscription Shares is referred to herein as the “Subscription Amount”;
and

 

WHEREAS, substantially concurrently
with the execution of this Subscription Agreement, Issuer and SPAC are entering into separate subscription agreements for Shares
with certain other investors (other than the Investor, the “Other Investors,” and such other subscription agreements,
the “Other Subscription Agreements”) with an aggregate purchase price of $353.0 million (inclusive of the Subscription
Amount) (together with the investment pursuant to this Agreement, the “PIPE Investment”).

 

     

     

    

 

NOW, THEREFORE, in consideration
of the foregoing and the mutual representations, warranties and covenants, and subject to the conditions, set forth herein, and intending
to be legally bound hereby, each of the Investor, Issuer and SPAC acknowledges and agrees as follows:

 

1.
Subscription and Contribution to Reserves. Subject to the terms and conditions of this Subscription Agreement, the Investor
hereby irrevocably agrees to acquire from Issuer, and Issuer hereby agrees to issue and provide to the Investor, directly or indirectly
through the Exchange Agent, the Subscription Shares. As consideration, and subject to the terms and conditions of this Subscription Agreement,
the Investor undertakes to make an equity contribution of the Subscription Amount into the capital contribution reserves (Zuschuss
in die Kapitaleinlagereserven) of the Issuer.

 

2.
Closing.

 

(a)
Subject to the terms and conditions of this Subscription Agreement, the closing of the acquisition of the Subscription Shares contemplated
hereby (the “Closing”) shall occur on a closing date (the “Closing Date”) specified in the Closing
Notice (as defined below), and the Closing shall be conditioned upon the substantially concurrent consummation of the Transaction and
the delivery prior to the Closing of certain Class B Ordinary Shares to the shareholders of the SPAC (the “Share Delivery”).
Following delivery of written notice from (or on behalf of) Issuer to the Investor that specifies the number of Subscription Shares (the
“Closing Notice”) that Issuer reasonably expects all conditions to the closing of the Transaction to be satisfied or
waived on an expected Closing Date that is not less than five (5) business days from the date on which the Closing Notice is delivered
to the Investor and containing the wire instructions for delivery of the Subscription Amount to Issuer, the Investor shall deliver to
the Issuer two (2) business days prior to the expected Closing Date (x) the Subscription Amount by wire transfer of U.S. dollars in immediately
available funds to the Escrow Account (as defined below) specified by Issuer in the Closing Notice, to be held in such Escrow Account
until the completion of the Share Delivery, and (y) a duly completed and executed Internal Revenue Service
Form W-9 or appropriate Form W-8 of the Investor. Subject to the Issuer receiving such deliverables
from the Investor, the satisfaction or waiver of the conditions set forth in Section 3 below
and the substantially concurrent consummation of the Transaction:

 

(i)
On or prior to the Closing Date, the Issuer shall hold an extraordinary shareholders’ meeting in the presence of a notary
and such extraordinary shareholders’ meeting will, inter alia, resolve on an increase of the Issuer’s nominal share
capital in the amount as necessary to complete the Transaction and to issue, among other things, the Subscription Shares at nominal value
to the Exchange Agent against contribution of shares of Intermediate HoldCo (the “Capital Increase”), whereby all statutory
pre-emptive rights to which the shareholders of the Issuer are entitled under Swiss law or the Issuer’s articles of association
will be excluded or waived; and

 

(ii)
On or prior to the Closing Date, the board of directors of the Issuer will (A) issue the report on the Capital Increase (Kapitalerhöhungsbericht)
in accordance with Swiss law (article 652e CO), (B) resolve in the form of a duly notarized deed on the Capital Increase as set forth
in article 652g CO and make all amendments to the articles of association of the Issuer necessary in connection with the Capital
Increase (Feststellungs- und Statutenänderungsbeschluss), and (C) promptly thereafter, and on the date of the Capital Increase,
file the documents necessary for the registration of the Capital Increase with the Commercial Register of the Canton of Lucerne.

 

(b)
As soon as the Capital Increase is registered with the Commercial Register of the Canton of Lucerne, the Issuer shall take all
steps reasonably necessary to ensure that the Subscription Shares will be issued to the Exchange Agent, free and clear of any liens or
other restrictions (other than those arising under applicable securities laws) and subsequently cause the Subscription Shares to be registered
in uncertificated form in the name of the Exchange Agent on Issuer’s book of uncertificated securities (Wertrechtebuch) and
share register and, upon the Investor’s request, shall provide to the Investor following the Closing, evidence of such issuance
in the form of a certified excerpt of the journal entry or the certified excerpt from the Commercial Register of the Canton of Lucerne
evidencing the Capital Increase.

 

    2

     

    

 

(c)
As soon as the (i) the preceding step and (ii) the Share Delivery is completed, the Issuer shall cause the Subscription Shares
(or securities entitlements in the Subscription Shares) to be transferred by the Exchange Agent to the Investor (or its nominee in accordance
with the Investor’s delivery instructions), free and clear of any liens or other restrictions (other than those arising under applicable
securities laws)). Such transfer shall occur by way of written assignment, in which case the Issuer shall record such transfer in the
Issuer’s share register (and the Issuer shall, upon the Investor’s request, provide to the Investor following the Closing,
evidence of such registration in the form of a written confirmation).

 

(d)
In the event that the Closing does not occur because the Transaction is not consummated for any reason on the expected Closing
Date, the Issuer shall promptly (but not later than two (2) business days thereafter) cause the Exchange Agent to (i) release the Subscription
Amount from the Escrow Account and (ii) return the Subscription Amount to the Investor by wire transfer of U.S. dollars in immediately
available funds to the account specified by the Investor; provided, that unless this Subscription Agreement has been terminated
pursuant to Section 9 hereof, such return of funds shall not terminate this Subscription Agreement and the Investor shall remain
obligated (i) to redeliver funds to the Escrow Account following Issuer’s delivery to the Investor of a new Closing Notice in accordance
with Section 2(a), and (ii) to consummate the Closing immediately prior to or substantially concurrently with the consummation
of the Transaction in accordance with Section 2(a).

 

3.
Closing Conditions. The obligation of the parties hereto to consummate the acquisition and disposal of the Subscription
Shares pursuant to this Subscription Agreement is subject to the following conditions:

 

(a)
no suspension of the qualification of the Subscription Shares for offering or sale or trading in any jurisdiction and no suspension
or removal from listing of the Subscription Shares on the stock exchange or initiation of any proceedings for any of such purposes, shall
have occurred, and the Subscription Shares shall have been approved for listing on the stock exchange, subject to official notice of issuance;

 

(b)
no applicable 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 the Closing illegal or
otherwise restraining or prohibiting the Closing;

 

(c)
all conditions precedent to the closing of the Transaction set forth in the Transaction Agreement
shall have been or are reasonably expected to be satisfied or waived by the party who is the beneficiary of such condition(s) in the Transaction
Agreement (for the avoidance of doubt, the Investor shall have no right to refuse to perform its obligations hereunder: (x) if those
conditions that by their nature may only be satisfied at the closing of the Transaction have not been satisfied prior to the Closing,
but subject to the satisfaction of such conditions as of the Closing or (y) if the conditions set forth in Section 10.3(c) of the Transaction
Agreement is waived in accordance therewith); and

 

(d)
the Share Delivery shall have been completed; and

 

(e)
solely with respect to Issuer’s and SPAC’s obligation to close (which may be waived by Issuer with the consent of SPAC
(such consent not to be unreasonably conditioned, withheld or delayed)):

 

(i)  
the representations and warranties made by the Investor in this Subscription Agreement
shall be true and correct as of the Closing Date (other than those representations and warranties expressly made as of an earlier date,
which shall be true and correct as of such date) except for inaccuracies or the failure of such
representations and warranties to be true and correct that (without giving effect to any limitation as to “materiality” or
“Investor Material Adverse Effect” (as defined below) or another similar materiality qualification set forth herein), individually
or in the aggregate, would not reasonably be expected to have an Investor Material Adverse Effect, in each case without giving effect
to the consummation of the Transaction; and

 

(ii)
Investor 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 Closing;

 

    3

     

    

 

(f)  
solely with respect to the Investor’s obligation to close (which may be waived by Investor):

 

(i)  
the representations and warranties made by Issuer in this Subscription Agreement shall be true and correct as of the Closing Date
(other than those representations and warranties expressly made as of an earlier date, which shall be true and correct as of such date)
except for inaccuracies or the failure of such representations and warranties to be true and correct
that (without giving effect to any limitation as to “materiality” or “Issuer/SPAC Material Adverse Effect” (as
defined below) or another similar materiality qualification set forth herein), individually or in the aggregate, would not reasonably
be expected to have an Issuer/SPAC Material Adverse Effect, in each case without giving effect to the consummation of the Transaction;
and

 

(ii)
Issuer 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
Closing. 

 

4.
Further Assurances.

 

(a)
SPAC shall open an escrow account prior to delivering the Closing Notice (the “Escrow Account”). The parties acknowledge
and agree that for U.S. federal income tax purposes, Investor shall be deemed to be the owner of the funds transferred by Investor to
any such Escrow Account unless and until such funds are disbursed to Issuer in accordance with the terms of this Subscription Agreement,
which disbursement shall occur, for the avoidance of doubt, immediately following the Share Delivery.

 

(b)
At the Closing, the parties hereto shall execute and deliver such additional documents and take such additional actions as the
parties reasonably may deem to be practical and necessary in order to consummate the subscription as contemplated by this Subscription
Agreement.

 

5.
Issuer and SPAC Representations and Warranties. Each of SPAC, with respect only to the representations and warranties set
forth below relating to SPAC, and Issuer, with respect only to the representations and warranties set forth below relating to Issuer,
represents and warrants to the Investor that:

 

(a)
SPAC is an exempted company duly incorporated, validly existing and in good standing under the laws of the Cayman Islands (to the
extent such concept exists in such jurisdiction). SPAC has all power (corporate or otherwise) 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. As of the Closing Date, Issuer will be a stock corporation (Aktiengesellschaft) incorporated and existing under the
laws of Switzerland, with all power (corporate or otherwise) 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)
When issued pursuant to this Subscription Agreement, the Subscription Shares will be duly authorized and, when issued and delivered
to the Investor against full payment therefor in accordance with the terms of this Subscription Agreement, the Subscription Shares will
be validly issued, fully paid, free and clear of all liens or other encumbrances (other than those arising under the articles of association
of the Issuer, applicable securities laws or any liens or encumbrances resulting from actions by the Investor) and will not have been
issued in violation of or subject to any preemptive or similar rights created under Issuer’s organizational documents (as in effect
at such time of issuance) or under the laws of Switzerland.

 

(c)
This Subscription Agreement has been duly authorized, executed and delivered by Issuer and SPAC and, assuming that this Subscription
Agreement constitutes the valid and binding agreement of the Investor, this Subscription Agreement constitutes a legal, valid and binding
obligation of Issuer and SPAC, enforceable against Issuer and SPAC in accordance with its terms, except as may be limited or otherwise
affected by (i) bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other laws relating to or affecting
the rights of creditors generally, or (ii) principles of equity, whether considered at law or equity.

 

    4

     

    

 

(d)
Assuming the accuracy of the Investor’s representations and warranties in Section 6, the execution, delivery and performance
of this Subscription Agreement, including the issuance and disposal of the Subscription Shares pursuant to this Subscription Agreement,
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 Issuer, SPAC or any of
their respective subsidiaries pursuant to the terms of any indenture, mortgage, deed of trust, loan agreement, lease, license or other
agreement or instrument to which Issuer, SPAC or any of their respective subsidiaries is a party or by which Issuer, SPAC or any of their
respective subsidiaries are bound or to which any of the property or assets of Issuer or SPAC are subject that would reasonably be expected
to have a material adverse effect on the ability of Issuer to consummate the issuance and disposal of the Subscription Shares or the validity
of the Subscription Shares (an “Issuer/SPAC Material Adverse Effect”); (ii) result in any violation of the provisions
of the organizational documents of Issuer or SPAC; 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 Issuer or SPAC or any of their respective
properties that would reasonably be expected to have an Issuer/SPAC Material Adverse Effect.

 

(e)
As of their respective filing dates, or, if amended, as of the date of such amendment, which shall be deemed to supersede such
original filing, all reports, registration statements, proxy statements, schedules, prospectuses, and other documents filed by SPAC with
the U.S. Securities and Exchange Commission (the “SEC” and, such reports, the “SEC Reports”) complied
in all material respects with the applicable requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
and the rules and regulations of the SEC promulgated thereunder as of the date of such filing (as amended, as applicable). The SEC Reports
include all reports, registration statements, proxy statements, schedules, prospectuses, and other documents required to have been filed
by SPAC. None of the SEC Reports included, when filed or, if amended, as of the date of such amendment, which shall be deemed to supersede
such original filing, any untrue statement of a material fact or omitted to state a material fact necessary to make the statements therein,
in the light of the circumstances under which they were made, not misleading; provided, that SPAC makes no such representation
or warranty with respect to any registration statement or any proxy statement/prospectus to be filed by Issuer and/or SPAC with respect
to the Transaction or any other information relating to the Company or any of its affiliates included in any SEC Report or filed as an
exhibit thereto. As of the date hereof, there are no material outstanding or unresolved comments in comment letters received by SPAC from
the SEC with respect to any of the SEC Reports. The financial statements of SPAC included in the SEC Reports comply in all material respects
with applicable accounting requirements and the rules and regulations of the SEC with respect thereto as in effect at the time of filing,
or, if amended, as of the date of such amendment, which shall be deemed to supersede such original filing, and fairly present in all material
respects the financial position of SPAC as of and for the dates thereof and the results of operations and cash flows for the periods then
ended, subject, in the case of unaudited financial statements, to normal, year-end audit adjustments. A copy of each SEC Report is available
to the Investor via the SEC’s EDGAR system. Notwithstanding the foregoing, none of the representations and warranties of either
SPAC or Issuer set forth herein shall apply to any statement or information in the SEC Reports or in any filing made by Issuer in connection
with the Transaction that relates to changes to historical accounting policies of SPAC in connection with any order, directive, guideline,
comment or recommendation from the SEC or SPAC’s auditor or accountant that is applicable to SPAC (collectively, the “SEC
Guidance”), nor shall any correction, revision, amendment or restatement of SPAC’s financial statements due to the SEC
Guidance result in a breach of any representation or warranty by SPAC or Issuer.

 

    5

     

    

 

(f)  
Neither Issuer nor SPAC is 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 issuance of the Subscription Shares pursuant to this Subscription Agreement, other than (i) the filing
of the Capital Increase with the Commercial Register of the Canton of Lucerne, (ii) filings with the SEC, (iii) in connection with
or as a result of the SEC Guidance, (iv) filings required by applicable state securities laws, (v) the filings required in accordance
with Section 13 of this Subscription Agreement, (vi) filings required by the New York Stock Exchange (“NYSE”)
or The Nasdaq Stock Market, as applicable, including with respect to obtaining approval of Issuer’s and/or SPAC’s shareholders,
as applicable, (vi) filings required to be made by the Issuer in connection with the Transaction and (vii) any consent, waiver, authorization,
order, notice or registration the failure of which to obtain, give or make, as applicable, would not be reasonably be expected to have,
individually or in the aggregate, an Issuer/SPAC Material Adverse Effect.

 

(g)
As of the date hereof, the authorized share capital of SPAC consists of 500,000,000 shares of Class A ordinary shares, par value
$0.0001 per share (“Class A Shares”), 50,000,000 shares of Class B ordinary shares, par value $0.0001 per share (“Class
B Shares”), and 5,000,000 preference shares, par value $0.0001 per share (“Preferred Shares”). As of the
date hereof: (i) 82,800,000 Class A Shares (including those underlying SPAC’s units), 20,700,000 Class B Shares and no Preferred
Shares were issued and outstanding; and (ii) 39,973,333 warrants, each exercisable to purchase one (1) Class A Share at $11.50 per share
(“Warrants”), were issued and outstanding, including 27,600,000 public warrants (including those underlying SPAC’s
units) and 12,373,333 private placement warrants. No Warrants are exercisable on or prior to the Closing.

 

    6

     

    

 

(h)
Each of Issuer and SPAC is in compliance with all applicable laws, except where such non-compliance would not reasonably be expected
to have an Issuer/SPAC Material Adverse Effect. As of the date hereof, neither Issuer nor SPAC has received any written communication
from a governmental authority that alleges that Issuer or SPAC, as applicable, 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 reasonably be expected to have, individually or
in the aggregate, an Issuer/SPAC Material Adverse Effect. For the avoidance of doubt, this representation and warranty shall not apply
to the extent any of the foregoing matters or communications arise from or relate to the SEC Guidance and, in such case, such matters
or communications shall not constitute a breach of any representation or warranty by Issuer or SPAC.

 

(i)  
Assuming the accuracy of the Investor’s representations and warranties set forth in Section 6 of this Subscription
Agreement, no registration under the Securities Act of 1933, as amended (the “Securities Act”), is required for the
offer and disposal of the Subscription Shares by Issuer to the Investor.

 

(j)  
None of Issuer, SPAC or any person acting on their behalf has offered or sold the Subscription Shares by any form of general solicitation
or general advertising in violation of the Securities Act.

 

(k)
As of the date hereof, the issued and outstanding Class A Shares are registered pursuant to Section 12(b) of the Exchange Act and
are listed for trading on the NYSE. There is no suit, action, proceeding or investigation pending or, to the knowledge of SPAC, threatened
against SPAC by the NYSE or such other applicable stock exchange on which SPAC’s or its successor’s common stock is then listed
or the SEC with respect to any intention by such entity to deregister the Class A Shares or prohibit or terminate the listing of the Class
A Shares on the NYSE or such other applicable stock exchange on which SPAC’s or its successor’s common stock is then listed,
excluding, for the purposes of clarity, the customary ongoing review by the NYSE or such other applicable stock exchange on which SPAC’s
or its successor’s common stock is then listed in connection with the Transaction.

 

(l)  
Except for such matters as have not had and would not reasonably be expected to have an Issuer/SPAC Material Adverse Effect, there
is no (i) suit, action, proceeding or arbitration before a governmental authority or arbitrator pending, or, to the knowledge of Issuer
and SPAC, as applicable, threatened in writing against Issuer or SPAC or (ii) judgment, decree, injunction, ruling or order of any governmental
authority or arbitrator outstanding against Issuer or SPAC. For the avoidance of doubt, this representation and warranty shall not apply
to the extent any of the foregoing matters arise from or relate to the SEC Guidance and, in such case, such matters shall not constitute
a breach of any representation or warranty by Issuer or SPAC.

 

(m)
Neither Issuer nor SPAC is under any obligation to pay any broker’s fee or commission in connection with the offer and sale
of the Subscription Shares other than to Citigroup Global Markets Inc. and PJT Partners LP in their capacities as placement agents for
the offer and sale of the Subscription Shares (in such capacities, the “Placement Agents”). Neither Issuer nor SPAC
has entered into any agreement or arrangement entitling any agent, broker, investment banker, financial advisor or other person (including
the Placement Agents) 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 the Investor could become liable.

 

(n)
[Reserved]. 

 

(o)
Issuer is not, and immediately after receipt of payment for the Shares will not be, and “investment company” within
the meaning of the Investment Company Act of 1940, as amended.

 

    7

     

    

 

6.
Investor Representations and Warranties. The Investor represents and warrants to Issuer and SPAC that:

 

(a)
The Investor (i) is a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act)
or an “accredited investor” (within the meaning of Rule 501(a) under the Securities Act), in each case, satisfying the
applicable requirements set forth on Schedule A, (ii) is acquiring all of the Subscription Shares only for his, her or
its own account and not for the account of others, or if the Investor is subscribing for the Subscription Shares as a fiduciary or agent
for one or more investment accounts, the Investor has full investment discretion with respect to each such account, and the full power
and authority to make the acknowledgements, representations and agreements herein on behalf of each owner of each such account, and (iii) is
acquiring the Subscription Shares for investment purposes only and not with a view to, or for offer or sale in connection with, any distribution
thereof in violation of the Securities Act or the laws of any jurisdiction (and shall provide the requested information set forth on Schedule A).
Investor is either (a) an entity not formed for the specific purpose of acquiring the Subscription Shares or (b) a wholly owned subsidiary
of an entity not formed for the specific purpose of acquiring the Subscription Shares.

 

(b)
The Investor acknowledges and agrees that the Subscription Shares are being offered in a transaction not involving any public offering
within the meaning of the Securities Act, that the Subscription Shares have not been registered under the Securities Act and that Issuer
is not required to register the Subscription Shares except as set forth in Section 8 of this Subscription Agreement. The Investor
acknowledges and agrees that the Subscription Shares may not be offered, resold, transferred or otherwise disposed of by the Investor
absent an effective registration statement under the Securities Act except (i) to Issuer 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 case, in
accordance with any applicable securities laws of the states of the United States and other applicable jurisdictions, and that any certificates
or book entries representing the Subscription Shares shall contain a restrictive legend to such effect. The Investor acknowledges and
agrees that the Subscription Shares will be subject to these securities law transfer restrictions and, as a result of these transfer restrictions,
the Investor may not be able to readily offer, resell, transfer, pledge or otherwise dispose of the Subscription Shares and may be required
to bear the financial risk of an investment in the Subscription Shares for an indefinite period of time. The Investor acknowledges and
agrees that the Subscription Shares will not immediately be eligible for offer, resale, transfer, pledge or disposition pursuant to Rule 144
promulgated under the Securities Act, and that the provisions of Rule 144(i) under the Securities Act will apply to the Subscription Shares.
The Investor acknowledges and agrees that it has been advised to consult legal, tax and accounting advisors prior to making any offer,
resale, transfer, pledge or disposition of any of the Subscription Shares.

 

(c)
Assuming the accuracy of Issuer’s and SPAC’s representations and warranties in Section 5, the
consummation of the transactions contemplated pursuant to this Subscription Agreement, including the Transaction, 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 the Investor 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 the Investor
or any of its subsidiaries is a party or by which the Investor or any of its subsidiaries is bound or to which any of the property or
assets of the Investor is subject that would reasonably be expected to have a material adverse effect on the ability of the Investor to
enter into and timely perform its obligations under this Subscription Agreement (an “Investor Material Adverse Effect”);
(ii) result in any violation of the provisions of the organizational documents of the Investor; 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 the Investor or any of its properties that would reasonably be expected to have an Investor Material Adverse Effect.

 

(d)
The Investor acknowledges and agrees that the book-entry position representing the Subscription Shares will bear or reflect, as
applicable, a legend substantially similar to the following (provided that such legend shall be subject to removal in accordance with
Section 8(h) hereof):

 

“THE SECURITIES REPRESENTED
HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”),
OR ANY STATE SECURITIES LAWS. THE HOLDER HEREOF, BY PURCHASING SUCH SECURITIES, AGREES FOR THE BENEFIT OF THE ISSUER THAT THESE SECURITIES
MAY NOT BE OFFERED, RESOLD, TRANSFERRED OR OTHERWISE DISPOSED OF BY THE HOLDER ABSENT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES
ACT EXCEPT (I) TO THE ISSUER 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 CASE IN ACCORDANCE WITH APPLICABLE SECURITIES LAWS OF THE STATES OF THE UNITED STATES
AND THE APPLICABLE LAWS OF ANY OTHER JURISDICTION.”

 

    8

     

    

 

(e)
The Investor acknowledges and agrees that the Investor is purchasing the Subscription Shares from Issuer. The Investor further
acknowledges that there have been no representations, warranties, covenants and agreements made to the Investor by or on behalf of Issuer,
SPAC, the Company, any of their respective affiliates or any control persons, officers, directors, employees, agents or representatives
of any of the foregoing or any other person or entity, expressly or by implication, other than those representations, warranties, covenants
and agreements of Issuer and SPAC expressly set forth in Section 5 of this Subscription Agreement.

 

(f)  
The Investor acknowledges and agrees that the Investor has received, reviewed and understood the offering materials made available
to it in connection with the Transaction and such information as the Investor deems necessary in order to make an investment decision
with respect to the Subscription Shares, including, with respect to Issuer and SPAC, such information regarding the Transaction and the
business of the Company and its subsidiaries. The Investor acknowledges and agrees that the Investor and the Investor’s professional
advisor(s), if any, have had the full opportunity to ask such questions, receive such answers from the Company directly and obtain such
information as the Investor and such Investor’s professional advisor(s), if any, have deemed necessary to make an investment decision
with respect to the Subscription Shares. The Investor has conducted and completed its own independent due diligence with respect to the
Transaction. Based on such information as Investor has deemed appropriate and without reliance upon the Placement Agents or any of their
respective affiliates, control persons, officers, directors, employees, agents or representatives, the Investor has independently made
its own analysis and decision to enter into the Transaction. Except for the representations, warranties and agreements of Issuer and SPAC
expressly set forth in this Subscription Agreement, the Investor is relying exclusively on its own sources of information, investment
analysis and due diligence (including professional advice it may deem appropriate) with respect to the Transaction, the Subscription Shares
and the business, condition (financial and otherwise), management, operations, properties and prospects of the Company, including but
not limited to all business, legal, regulatory, accounting, credit and tax matters.

 

(g)
The Investor became aware of this offering of the Subscription Shares solely by means of direct contact between the Investor and
Issuer, SPAC, the Company or a representative of Issuer, SPAC or the Company and the Subscription Shares were offered to the Investor
solely by direct contact between the Investor and Issuer, SPAC, the Company or a representative of Issuer, SPAC or the Company. The Investor
did not become aware of this offering of the Subscription Shares, nor were the Subscription Shares offered to the Investor, by any other
means. The Investor acknowledges that the Subscription Shares (i) were not offered to it by any form of general solicitation or general
advertising and (ii) to its knowledge are not being offered to it in a manner involving a public offering under, or in a distribution
in violation of, the Securities Act, any state securities laws or the securities laws of any other applicable jurisdiction. The Investor
acknowledges that it is not relying upon, and has not relied upon, any statement, representation or warranty made by any person, firm
or corporation concerning Issuer, SPAC, the Company, the Transaction, the Transaction Agreement, this Subscription Agreement or the transactions
contemplated hereby or thereby, the Subscription Shares or the offer and sale of the Subscription Shares (including, without limitation,
by the Issuer, SPAC, the Company, the Placement Agents, any of their respective affiliates or any control persons, officers, directors,
employees, agents or representatives of any of the foregoing), other than the representations and warranties of Issuer and SPAC contained
in Section 5 of this Subscription Agreement, in making its investment or decision to invest in Issuer or SPAC. Moreover, the
Investor acknowledges that PJT Partners LP is acting as a Placement Agent to the Issuer and PJT Partners (UK) Limited, an affiliate of
PJT Partners LP, is acting as financial advisor to the Company in connection with the Transaction.

 

(h)
The Investor acknowledges that it is aware that there are substantial risks incident to the purchase and ownership of the Subscription
Shares, including those set forth in Issuer’s and SPAC’s filings with the SEC, if any. The Investor 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 Subscription
Shares, and, without limiting the representations and warranties of Issuer and SPAC in Section 5, the Investor has sought such
accounting, legal and tax advice as the Investor has considered necessary to make an informed investment decision. The Investor acknowledges
that the Investor shall be responsible for any of the Investor’s tax liabilities that may arise as a result of the transactions
contemplated by this Subscription Agreement, and that none of SPAC, Issuer or the Company has provided any tax advice or any other representation
or guarantee regarding the tax consequences of the transactions contemplated by this Subscription Agreement.

 

    9

     

    

 

(i)  
Investor has adequately analyzed and fully considered the risks of an investment in the Subscription Shares and determined that
the Subscription Shares or an investment therein (i) are fully consistent with its financial needs, objectives and condition, (ii) comply
and are fully consistent with all investment policies, guidelines and other restrictions applicable to it, and (iii) are suitable investment
for it. The Investor is able to bear the economic risk of a total loss of the Investor’s investment in the Subscription Shares.
The Investor acknowledges specifically that a possibility of total loss exists.

 

(j)  
The Investor acknowledges and agrees that no federal or state agency has passed upon or endorsed the merits of the offering of
the Subscription Shares or made any findings or determination as to the fairness of this investment.

 

(k)
The Investor, if not a natural person, has been duly formed or incorporated and is validly existing and is in good standing under
the laws of its jurisdiction of formation or incorporation (to the extent such concept exists in such jurisdiction), with power and authority
to enter into, deliver and perform its obligations under this Subscription Agreement.

 

(l)  
The execution, delivery and performance by the Investor of this Subscription Agreement are within the powers of the Investor, have
been duly authorized and will not constitute or result in a breach or default under or conflict with any order, ruling or regulation of
any court or other tribunal or of any governmental commission or agency, or any agreement or other undertaking, to which the Investor
is a party or by which the Investor is bound, and, if the Investor is not a natural person, will not violate any provisions of the Investor’s
organizational documents, including, without limitation, its incorporation or formation papers, bylaws, indenture of trust or partnership
or operating agreement, as may be applicable. The signature of the Investor on this Subscription Agreement is genuine, and the signatory,
if the Investor is a natural person, has legal competence and capacity to execute the same or, if the Investor is not a natural person,
the signatory has been duly authorized to execute the same, and, assuming that this Subscription Agreement constitutes the valid and binding
agreement of Issuer and SPAC, this Subscription Agreement constitutes a legal, valid and binding obligation of the Investor, enforceable
against the Investor in accordance with its terms except as may be limited or otherwise affected by (i) bankruptcy, insolvency, fraudulent
conveyance, reorganization, moratorium or other laws relating to or affecting the rights of creditors generally, and (ii) principles
of equity, whether considered at law or equity.

 

(m)
Neither the Investor nor, if the Investor is not a natural person, any of its officers, directors, managers, managing members,
general partners or any other person acting in a similar capacity or carrying out a similar function, is, or for the past five (5) years
has been, (i) a person, government, or governmental entity that is the target of economic or financial sanctions requirements, or trade
embargoes imposed, administered, or enforced by the U.S. government (including the U.S. Department of the Treasury’s Office of Foreign
Assets Control or the U.S. Department of State), the United Nations, the European Union or any individual European Union member state,
the United Kingdom, or other governmental authority (collectively, “Sanctions”), to the extent applicable, including
(A) a person listed on any list of sanctioned persons maintained by the U.S. Treasury Department’s Office of Foreign Assets
Control, the U.S. Department of State, the United Nations, the European Union or any individual European Union member state, the United
Kingdom, or other governmental authority, to the extent applicable; (B) a person organized, incorporated, established, located, or
resident in Cuba, Iran, North Korea, Syria, the Crimea region of Ukraine, or any other country or territory embargoed or subject to comprehensive
Sanctions; (C) any person directly or indirectly owned or controlled by any person or persons described in the foregoing clauses (A) and
(B); (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 (together with (i) and (ii), a “Prohibited Investor”).
The Investor represents that if it 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”), that the Investor maintains policies and procedures reasonably designed to comply
with applicable obligations under the BSA/PATRIOT Act. The Investor also represents that it maintains policies and procedures reasonably
designed to ensure compliance with applicable Sanctions, and that for the past five years, the Investor has been in compliance with applicable
Sanctions and the BSA/PATRIOT Act, as applicable. The Investor further represents that it has no knowledge or reason to know that the
funds held by the Investor and used to purchase the Subscription Shares were illegally derived or obtained, directly or indirectly, from
a Prohibited Investor, in violation of Sanctions or the BSA/PATRIOT Act. The Investor further represents that for the past five years,
the Investor has not (1) received written or other notice of any actual, alleged or apparent violation of applicable Sanctions or the
BSA/PATRIOT Act, as applicable, (2) been a party to or the subject of any pending (or to the Investor’s knowledge, threatened) civil,
criminal or administrative actions, suits, demands, investigations, proceedings, settlements or enforcement actions by or before any governmental
authority relating to any actual, alleged or apparent violations of applicable Sanctions or the BSA/PATRIOT Act, as applicable, or (3)
made any voluntary disclosure to any governmental authority with respect to any actual, alleged or apparent violation of applicable Sanctions
of the BSA/PATRIOT Act, as applicable.

 

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(n)
If the Investor is or is acting on behalf of (i) an employee benefit plan that is subject to Title I of the Employee
Retirement Income Security Act of 1974, as amended (“ERISA”), (ii) a plan, an individual retirement account or
other arrangement that is subject to Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”),
(iii) an entity whose underlying assets are considered to include “plan assets” of any such plan, account or arrangement
described in clauses (i) and (ii) (each, an “ERISA Plan”), or (iv) 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 clauses (i), (ii) or (iii) but may be subject
to provisions under any other federal, state, local, non-U.S. or other laws or regulations that are substantially similar to such provisions
of ERISA or the Code (collectively, “Similar Laws,” and together with ERISA Plans, “Plans”), the
Investor represents and warrants that (A) it has not relied on Issuer, SPAC or any of its affiliates for investment advice or has
otherwise acted as the Plan’s fiduciary, with respect to its decision to acquire and hold the Subscription Shares, and none of the
parties to the Transaction is or shall at any time be the Plan’s fiduciary with respect to any decision in connection with the Investor’s
investment in the Subscription Shares; and (B) its purchase of the Subscription Shares will not result in a non-exempt prohibited
transaction under Section 406 of ERISA or Section 4975 of the Code, or any applicable Similar Law.

 

(o) The Investor acknowledges
that no disclosure or offering document has been prepared by the Placement Agents or any of their affiliates in connection with the offer
and sale of the Subscription Shares.

 

(p)
The Investor acknowledges that neither the Placement Agents nor any of their affiliates, control persons, officers, directors,
employees, agents or representatives, has made any independent investigation with respect to Issuer, SPAC, the Company or their subsidiaries
or any of their respective businesses, or the Subscription Shares or the accuracy, completeness or adequacy of any information supplied
to the Investor by Issuer, SPAC or the Company.

 

(q)
The Investor hereby acknowledges that in connection with the issuance and purchase of the Subscription Shares, the Placement Agents
are acting solely as SPAC’s placement agents and the Placement Agents have not acted and are not acting as underwriters or in any
other capacity and are not and shall not be construed as advisors or fiduciaries for the Investor or any other person or entity in connection
with the Transaction. Neither the Placement Agents nor any of their respective affiliates, control persons, officers, directors, employees,
agents or representatives has made and none of the Placement Agents or any of their respective affiliates, control persons, officers,
directors, employees, agents or representatives will make any representation or warranty, whether express or implied, of any kind or character
and have not provided any advice or recommendation in connection with the Transaction (except as provided above in subsection (g) in respect
of PJT Partners (UK) Limited), and neither the Placement Agents nor any of their respective affiliates, control persons, officers, directors,
employees, agents or representatives will have any responsibility with respect to (i) any representations, warranties or agreements made
by any person or entity under or in connection with the Transaction or any of the documents furnished pursuant thereto or in connection
therewith, or the execution, legality, validity or enforceability (with respect to any person) or any thereof, or (ii) the business, affairs,
financial condition, operations, properties or prospects of, or any other matter concerning the Company or the Transaction.

 

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(r)  
The Investor acknowledges that (i) the Placement Agents, and any of their respective affiliates, control persons, officers, directors,
employees, agents or representatives currently may have, and later may come into possession of, information regarding the Company, Issuer
and SPAC that is not known to the Investor and that may be material to a decision to purchase the Subscription Shares, (ii) the Investor
has determined to purchase the Subscription Shares notwithstanding its lack of knowledge of such information, and (iii) neither the Placement
Agents nor any of their respective affiliates, control persons, officers, directors, employees, agents or representatives shall have liability
to the Investor, and the Investor hereby to the extent permitted by law waives and releases any claims it may have against the Placement
Agents and their respective affiliates, control persons, officers, directors, employees, agents or representatives, with respect to the
nondisclosure of such information.

 

(s)
The Investor acknowledges that certain information provided to it 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. The
Investor acknowledges that such information and projections were prepared without the participation of the Placement Agents and that the
Placement Agents do not assume responsibility for independent verification of, or the accuracy or completeness of, such information or
projections.

 

(t)  
The Investor agrees that the Placement Agents shall not be liable to the Investor (including in contract, tort, under federal or
state securities laws or otherwise) for any action heretofore or hereafter taken or omitted to be taken by the Placement Agents in connection
with the offering of the Subscription Shares. On behalf of the Investor and its affiliates, the Investor releases the Placement Agents
in respect of any losses, claims, damages, obligations, penalties, judgments, awards, liabilities, costs, expenses or disbursements (“Losses”)
related to the offering of the Subscription Shares, other than any Losses that are finally judicially determined to have resulted from
the gross negligence or willful misconduct of one or more Placement Agents. The Investor agrees not to commence any litigation or bring
any claim against the Placement Agents in any court or any other forum which relates to, may arise out of, or is in connection with, the
offering of the Subscription Shares. This undertaking by the Investor is given freely and after obtaining independent legal advice.

 

(u)
When required to deliver payment to Issuer pursuant to Section 2 above, the Investor will have, sufficient funds to
pay the Subscription Amount and consummate the contribution into the capital contribution reserves (Zuschuss in die Kapitaleinlagereserven)
of the Issuer and the acquisition and disposal of the Subscription Shares pursuant to this Subscription Agreement.

 

(v)
The Investor acknowledges that any restatement, revision or other modification of the SEC Reports relating to or arising from the
SEC Guidance shall be deemed not material for purposes of this Subscription Agreement.

 

7.
No Hedging. The Investor hereby agrees that neither it, its controlled affiliates, nor any person or entity acting on its
or its controlled affiliates’ behalf or pursuant to any understanding with it, shall execute any short sales (as such term is defined
in Regulation SHO under the Exchange Act, 17 CFR 242.200) or engage in other hedging transactions of any kind with respect to the Subscription
Shares during the period from the date of this Subscription Agreement through the Closing (or such earlier termination of this Subscription
Agreement). Notwithstanding the foregoing, (i) nothing herein shall prohibit other entities under common management or that share an investment
advisor with the Investor (including the Investor’s controlled affiliates and/or affiliates) from entering into any such short sales
and (ii) in the case of an Investor that is a multi-managed investment vehicle whereby separate portfolio managers manage separate portions
of such Investor’s assets, the representation and limitation set forth above in this Section 7 shall only apply with respect to
the portion of assets managed by the portfolio manager that made the investment decision to purchase the Subscription Shares covered by
this Subscription Agreement. For the avoidance of doubt, this Section 7 shall not apply to any sale or hedging transaction (including
the exercise of any redemption right) of securities of the Issuer (i) held by the Investor, its controlled affiliates or any person or
entity acting on behalf of the Investor or any of its controlled affiliates prior to the execution of this Subscription Agreement or (ii)
purchased by the Investor, its controlled affiliates or any person or entity acting on behalf of the Investor or any of its controlled
affiliates in open market transactions after the execution of this Subscription Agreement.

 

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8.
Registration Rights. The Issuer and Investor hereby acknowledge and agree that the Subscription Shares shall be treated
as “Registrable Securities” under the Registration Rights Agreement (as defined in the Transaction Agreement).

 

9.
Termination. 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, (x)
upon the earlier to occur of (i) such date and time as the Transaction Agreement is terminated in accordance with its terms or (ii) the
mutual written agreement of each of the parties hereto to terminate this Subscription Agreement, or (y) if the conditions to closing set
forth in Section 3 of this Subscription Agreement are not satisfied or waived, or are not capable of being satisfied, on or prior to the
Closing and, as a result thereof, the transactions contemplated by this Subscription Agreement will not be or are not consummated at the
Closing (provided, that the right to terminate this Subscription Agreement pursuant to this clause (y) shall not be available to
the Investor if the Investor’s or its assignee’s willfully breach any of its covenants or obligations under this Subscription
Agreement, or if the SPAC’s or its affiliates’ willfully breach their respective covenants or obligations under the Transaction
Agreement or the agreements contemplated thereby, either individually or in the aggregate, and such willful breach causes the failure
of the consummation of the Transaction); provided that nothing herein will relieve any party from liability for any willful breach
hereof prior to the time of termination, and each party will be entitled to any remedies at law or in equity to recover losses, liabilities
or damages arising from any such willful breach. Issuer or SPAC shall notify the Investor of the termination of the Transaction Agreement
promptly after the termination of such agreement. Upon the termination of this Subscription Agreement in accordance with this Section 9,
any monies paid by the Investor to the Escrow Account or SPAC in connection herewith shall be promptly (and in any event within two (2)
business days after such termination) returned to the Investor.

 

10.
Trust Account Waiver. The Investor acknowledges that SPAC is a blank check company with the powers and privileges to effect
a merger, asset acquisition, reorganization or similar business combination involving SPAC and one or more businesses or assets. The Investor
further acknowledges that, as described in SPAC’s final prospectus relating to its initial public offering (the “IPO Prospectus”)
available at www.sec.gov, substantially all of SPAC’s assets consist of the cash proceeds of SPAC’s initial public offering
and private placement of its securities, and substantially all of those proceeds have been deposited in a trust account (the “Trust
Account”) for the benefit of SPAC, its public shareholders and the underwriter(s) of SPAC’s initial public offering. Except
with respect to interest earned on the funds held in the Trust Account that may be released to SPAC to pay its tax obligations, if any,
the cash in the Trust Account may be disbursed only for the purposes set forth in the IPO Prospectus. For and in consideration of SPAC
entering into this Subscription Agreement, the receipt and sufficiency of which are hereby acknowledged, the Investor 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 as a result of, or arising out of, this Subscription Agreement;
provided that nothing in this Section 10 shall be deemed to limit the Investor’s right, title, interest or claim to
the Trust Account by virtue of the Investor’s record or beneficial ownership of the Class A Ordinary Shares of SPAC acquired by
any means other than pursuant to this Subscription Agreement.

 

11.
Miscellaneous.

 

(a)
Upon written notice to Issuer and SPAC, this Subscription Agreement and any or all rights that may accrue to the Investor hereunder
may be transferred or assigned to any member of Investor, any general or limited partner of Investor, any fund or account managed by the
same investment manager as the Investor, any direct or indirect partners, members or equity holders of the Investor, or any Affiliates
of the foregoing, subject to such transferee or assignee, as applicable, executing a joinder to this Subscription Agreement or, if such
transfer or assignment is prior to Closing, either a joinder to this Subscription Agreement or a separate subscription agreement in substantially
the same form as this Subscription Agreement, including with respect to the Subscription Amount and other terms and conditions; provided
that, in the case of any such transfer or assignment, the initial party to this Subscription Agreement shall remain bound by its obligations
under this Subscription Agreement in the event that the transferee or assignee, as applicable, does not comply with its obligations to
consummate the purchase of Subscription Shares contemplated hereby. “Affiliates”
for the purpose of this Section 10(a) means persons directly or indirectly controlling, controlled by or under direct or indirect common
control with, such person. Neither this Subscription Agreement nor any rights that may accrue to Issuer and SPAC hereunder or any of Issuer’s
and SPAC’s obligations hereunder may be transferred or assigned other than pursuant to the Transaction.

 

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(b)
Issuer and SPAC may reasonably request from the Investor such additional information as Issuer and SPAC may deem necessary to evaluate
the eligibility of the Investor to acquire the Subscription Shares and in connection with the inclusion of the Subscription Shares in
the Registration Statement, and the Investor 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 Issuer and SPAC agree to keep any such information
provided by Investor confidential, except as may be required by applicable law, rule, regulation or in connection with any legal proceeding
or regulatory request. The Investor acknowledges that Issuer or SPAC may file a copy of this Subscription Agreement with the SEC as an
exhibit to a current or periodic report or a registration statement of Issuer or SPAC.

 

(c)
The Investor acknowledges that (i) Issuer and SPAC will rely on the acknowledgments, understandings, agreements, representations
and warranties of the Investor contained in this Subscription Agreement and (ii) the Placement Agents will rely on, and are third party
beneficiaries of the acknowledgments, understandings, agreements, representations and warranties of the Investor contained in Section
6, this Section 11 and Section 12 of this Subscription Agreement (on their own behalf and not, for the avoidance of
doubt, on behalf of SPAC, Issuer or the Company). Prior to the Closing, each party agrees to promptly notify the other party and the Placement
Agents if any of the acknowledgments, understandings, agreements, representations and warranties of such party set forth herein are, to
their knowledge, no longer accurate. The Investor acknowledges and agrees that the purchase by the Investor of Subscription Shares from
Issuer or SPAC will constitute a reaffirmation of the acknowledgments, understandings, agreements, representations and warranties herein
(as modified by any such notice) by the Investor as of the time of such purchase.

 

(d)
Issuer, SPAC, the Company, the Placement Agents and the Investor are each entitled to rely upon this Subscription Agreement and
each is irrevocably authorized to produce this Subscription Agreement or a copy hereof to any interested party in any administrative or
legal proceeding or official inquiry with respect to the matters covered hereby.

 

(e)
This Subscription Agreement may not be amended, modified, waived or terminated (other than pursuant to the terms of Section 9
above) except by an instrument in writing, signed by each of the parties hereto and, to the extent required by the Transaction Agreement,
the Company. No failure or delay of either party in exercising any right or remedy hereunder shall operate as a waiver thereof, nor shall
any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such right or power,
or any course of conduct, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies
of the parties and third party beneficiaries hereunder are cumulative and are not exclusive of any rights or remedies that they would
otherwise have hereunder.

 

(f)  
This Subscription Agreement (including Schedule A hereto) constitutes the entire agreement, and supersedes all other prior
agreements, understandings, representations and warranties, both written and oral, among the parties, other than the Registration Rights
Agreement and any other agreements entered or to be entered into in connection with the Transaction, with respect to the subject matter
hereof. Except as set forth in Section 8(d), Section 11(c), Section 11(d) and Section 12 with respect
to the persons referenced therein, this Subscription Agreement shall not confer any rights or remedies upon any person other than the
parties hereto, and their respective successor and assigns; provided that the Company is an express third-party beneficiary of this Subscription
Agreement and shall be entitled to seek specific enforcement of the provisions hereof against the Investor or in the event of a breach
of this Subscription Agreement by Investor to seek a damages recovery. No express acknowledgement by the Company of the third-party beneficiary
rights conferred hereby shall be required in order for such rights to accrue to or be enforceable by the Company.

 

(g)
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.

 

(h)
If any provision of this Subscription Agreement shall be adjudicated by a court of competent jurisdiction to 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.

 

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(i)  
This Subscription Agreement may be executed in one or more counterparts (including by electronic mail or in .pdf or by DocuSign
or similar electronic signature) 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.

 

(j)  
The parties hereto acknowledge and 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
shall be entitled to an injunction or injunctions to prevent breaches of this Subscription Agreement, without posting a bond or undertaking
and without proof of damages, 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.

 

(k)
All of the representations and warranties contained in this Subscription Agreement shall survive the Closing. All of the covenants
and agreements made by each party hereto in this Subscription Agreement shall survive the Closing until the expiration of any statute
of limitations pursuant to applicable law or in accordance with their respective terms, if a shorter period.

 

(l) THE PARTIES HERETO IRREVOCABLY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT
OF NEW YORK, THE SUPREME COURT OF THE STATE OF NEW YORK AND THE FEDERAL COURTS OF THE UNITED STATES OF AMERICA LOCATED IN THE STATE OF
NEW YORK SOLELY IN RESPECT OF THE INTERPRETATION AND ENFORCEMENT OF THE PROVISIONS OF THIS SUBSCRIPTION AGREEMENT AND THE DOCUMENTS REFERRED
TO IN THIS SUBSCRIPTION AGREEMENT AND IN RESPECT OF THE TRANSACTIONS CONTEMPLATED HEREBY, AND HEREBY WAIVE, AND AGREE NOT TO ASSERT, AS
A DEFENSE IN ANY ACTION, SUIT OR PROCEEDING FOR INTERPRETATION OR ENFORCEMENT HEREOF OR ANY SUCH DOCUMENT THAT IS NOT SUBJECT THERETO
OR THAT SUCH ACTION, SUIT OR PROCEEDING MAY NOT BE BROUGHT OR IS NOT MAINTAINABLE IN SAID COURTS OR THAT VENUE THEREOF MAY NOT BE APPROPRIATE
OR THAT THIS SUBSCRIPTION AGREEMENT OR ANY SUCH DOCUMENT MAY NOT BE ENFORCED IN OR BY SUCH COURTS, AND THE PARTIES HERETO IRREVOCABLY
AGREE THAT ALL CLAIMS WITH RESPECT TO SUCH ACTION, SUIT OR PROCEEDING SHALL BE HEARD AND DETERMINED BY SUCH A NEW
YORK STATE OR FEDERAL COURT. THE PARTIES HEREBY CONSENT TO AND GRANT ANY SUCH COURT JURISDICTION OVER THE PERSON OF SUCH PARTIES
AND OVER THE SUBJECT MATTER OF SUCH DISPUTE AND AGREE THAT MAILING OF PROCESS OR OTHER PAPERS IN CONNECTION WITH SUCH ACTION, SUIT OR
PROCEEDING IN THE MANNER PROVIDED IN SECTION 14 OF THIS SUBSCRIPTION AGREEMENT OR IN SUCH OTHER MANNER AS MAY BE PERMITTED BY LAW
SHALL BE VALID AND SUFFICIENT SERVICE THEREOF. 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.

 

(m)
EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES
ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS
SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS SUBSCRIPTION AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE
EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER; (II) SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THE
FOREGOING WAIVER; (III) SUCH PARTY MAKES THE FOREGOING WAIVER VOLUNTARILY; AND (IV) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO
THIS SUBSCRIPTION AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVER AND CERTIFICATIONS IN THIS SECTION 11(m).

 

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(n)
The obligations of the Investor and each Other Investor in connection with the PIPE Investment are several and not joint, and Investor
shall not be responsible in any way for the performance of the obligations of any Other Investor in connection with the PIPE Investment.
Nothing contained herein or in any Other Subscription Agreement, and no action taken by Investor or any Other Investor, as applicable,
pursuant hereto or thereto, shall be deemed to constitute the Investor and any Other Investor as a partnership, an association, a joint
venture or any other kind of entity, or create a presumption that the Investor and Other Investors are in any way acting in concert or
as a group with respect to such obligations or the transactions contemplated hereby.

 

(o)
For purposes of this Subscription Agreement, “business day” shall mean a day, other than a Saturday, Sunday or other
day on which commercial banks in New York City, United States or Zurich, Switzerland are authorized or required by law to close.

 

(p)
For U.S. federal income tax purposes, the PIPE Investment taken together with the Company Merger is intended to qualify as a tax-deferred
exchange under Section 351(a) of the Code and the Investor, the Issuer, the SPAC and the Company agree not to take any position for tax
purposes inconsistent with such intended tax treatment unless otherwise required pursuant to a “determination” within the
meaning of Section 1313(a) of the Code.

 

(q)
If any Other Subscription Agreement is amended, modified or waived after the date hereof to provide more advantageous economic
terms to an Other Investor than those set forth in such Other Subscription Agreement on the date hereof, than the difference between (i)
the economic terms of such amendment and (ii) the original economic terms of such Other Subscription Agreement shall be provided to Investor
hereunder.

 

(r)  
If the Issuer, the SPAC or any of their affiliates enter into any side letter or similar agreement with any public shareholder
of Class A Shares for the primary purpose of providing consideration in exchange for an agreement by such public shareholder to not redeem
its Class A Shares in connection with the consummation of the Transaction, such consideration shall also be provided to the Investor hereunder.

 

(s)
If any other agreement providing for an investment with respect to equity or equity-linked securities of the Issuer, the SPAC or
any of their affiliates is entered into after the date hereof that provides more advantageous economic terms than this Subscription Agreement,
the same economic benefits and consideration of such other investment shall be provided to Investor hereunder.

 

(t)  
If (a) the Transaction Agreement is amended, modified or waived in a way that provides additional consideration or economic benefits
to any holder of Class A Shares and (b) the Issuer has less than $50,000,000 in commitments from Other Investors (not counting commitments
from the Investor or Other Investors that are existing directors, officers or equityholders of SPAC or Cohn Robbins Sponsor LLC), the
same economic benefits and consideration provided to any holder of Class A Shares pursuant to clause (a) shall be provided to the Investor
hereunder.

 

12.
Non-Reliance and Exculpation. The Investor acknowledges that it is not relying upon, and has not relied upon, any statement,
representation or warranty made by any person, firm or corporation (including, without limitation, Issuer, SPAC, the Placement Agents
or the Company, any of their respective affiliates or any control persons, officers, directors, employees, partners, agents or representatives
of any of the foregoing), other than the statements, representations and warranties of Issuer and SPAC expressly contained in Section 5
of this Subscription Agreement, in making its investment or decision to invest in Issuer or SPAC. The Investor acknowledges and agrees
that none of (i) any Other Investor under any Other Subscription Agreement (including such Other Investor’s respective affiliates
or any control persons, officers, directors, employees, partners, agents or representatives of any of the foregoing), (ii) the Placement
Agents, (iii) any party to the Transaction Agreement (other than Issuer and SPAC), or (iv) any affiliates, or any control persons,
officers, directors, employees, partners, agents or representatives of any of Issuer, SPAC, the Company or any other party to the Transaction
Agreement (other than Issuer and SPAC) shall be liable (including without limitation, for or with respect to any losses, claims, damages,
obligations, penalties, judgments, awards, liabilities, costs, expenses or disbursements incurred by the Investor, the Company or any
other person or entity), whether in contract, tort or otherwise, or have any liability or obligation, to the Investor or any person claiming
through the Investor, related to the private placement of the Subscription Shares, the negotiation hereof or the subject matter hereof,
or the transactions contemplated hereby, for any action heretofore or hereafter taken or omitted to be taken by any of them in connection
with the purchase of the Subscription Shares.

 

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13.
Press Releases. SPAC shall on the first business day immediately following the date of this Subscription Agreement, issue
one or more press releases or furnish or file with the SEC a Current Report on Form 8-K (collectively, the “Disclosure Document”)
disclosing, to the extent not previously publicly disclosed, all material terms of the Transaction and any other material, non-public
information that Issuer or SPAC has provided to the Investor at any time prior to the filing of the Disclosure Document. From and after
the disclosure of the Disclosure Document, to the knowledge of Issuer and SPAC, the Investor shall not be in possession of any material,
non-public information received from Issuer or SPAC or any of its officers, directors or employees, and the Investor shall no longer be
subject to any confidentiality or similar obligations under any current agreement, whether written or oral, with Issuer, SPAC, the Placement
Agents or any of their respective affiliates, relating to the transactions contemplated hereby. All Disclosure Documents, press releases
or other public communications relating to the transactions contemplated by this Subscription Agreement, and the method of the release
for publication thereof, shall be subject to the prior written approval of (i) SPAC, and (ii) to the extent such Disclosure Documents,
press release or public communication references the Investor or its affiliates or investment advisers by name, the Investor, which approval
shall not be unreasonably withheld or conditioned; provided that none of Issuer, SPAC or the Investor shall be required to obtain
consent pursuant to this Section 13 to the extent any proposed release or statement is substantially equivalent to the information
that has previously been made public without breach of the obligation under this Section 13. The restriction in this Section 13
shall not apply to the extent the public announcement is required by applicable securities law, any governmental authority or stock exchange
rule; provided, that in such an event, the applicable parties shall use its commercially reasonable efforts to consult with the
other party in advance of such disclosure as to its form, content and timing.

 

14.
Notices. All notices and other communications among the parties shall be in writing and shall be deemed to have been duly
given (i) when delivered in person, (ii) when delivered after posting in the United States mail having been sent registered or certified
mail return receipt requested, postage prepaid, (iii) when delivered by FedEx or other nationally recognized overnight delivery service,
or (iv) when delivered by email (in each case in this clause (iv), solely if receipt is confirmed, but excluding any automated reply,
such as an out-of-office notification), addressed as follows:

 

If to the Investor, to the address provided
on the Investor’s signature page hereto.

 

If to Issuer or SPAC, to:

 

Allwyn Entertainment AG

c/o SAZKA Entertainment AG, Weinmarkt 9

6004 Lucerne

Switzerland

		Attention:	Chief Operating Officer, SAZKA Entertainment AG

		Email:	Jan.Matuska@sazkaent.com

 

Cohn Robbins Holdings Corp.

1000 N. West Street

Wilmington, Delaware 19801

		Attention:	Charles Kwon

		Email:	charles@cohnrobbins.com.

 

    17

     

    

 

with copies to (which shall not constitute notice), to:

 

Skadden, Arps, Slate, Meagher & Flom LLP

One Manhattan West

New York, New York 10001

	 	Attention:	Howard L. Ellin
	 	 	June Dipchand
	 	 	Shana Elberg
	 	Email: 	howard.ellin@skadden.com
	 	 	june.dipchand@skadden.com
	 	 	Shana.Elberg@skadden.com

 

and

 

SAZKA Entertainment AG

Weinmarkt 9

6004 Lucerne

Switzerland

	 	Attention:	Pascal Genoud
	 	 	Katarina Kohlmayer
	 	 	Jonathan Handyside
	 	Email: 	Pascal.Genoud@allwynent.com
	 	 	Katarina.Kohlmayer@kkcg.com 
	 	 	Jonathan.Handyside@allwenyent.com 

 

and

 

Kirkland & Ellis LLP

601 Lexington Avenue

New York, New York 10022

		Attention:	Peter S. Seligson

		Email:	peter.seligson@kirkland.com

 

or to such other address or addresses for a party
as such party may from time to time designate in writing by notice to the other parties. Copies delivered solely to outside counsel shall
not constitute notice.

 

[SIGNATURE PAGES FOLLOW]

 

    18

     

    

 

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

 

	Name of Investor:	State/Country of Formation or Domicile:
	 	 
	By:  _____________________________________	 
	Name:  ___________________________________	 
	Title:  ___________________________________	 
	 	 
	Name in which Subscription Shares are to be registered (if different):	Date: ________, 2022
	
    Investor’s EIN:

     

    Entity Type (e.g., corporation, partnership, trust, etc.):

     
	 
	Business Address-Street:	Mailing Address-Street (if different):
	City, State, Zip:	City, State, Zip:
	Attn:  ____________________________________	Attn:  ____________________________________
	Telephone No.:	Telephone No.:
	Facsimile No.:	Facsimile No.:
	 	 
	Number of Subscription Shares to be purchased: 

[●] (the “Base Shares”) multiplied by 1.08	 

 

	Aggregate Subscription Amount: $	 	 	Per Base Share Subscription Price: $10.00	 

 

You must pay the Subscription
Amount by wire transfer of U.S. dollars in immediately available funds to the Escrow Account specified by the Issuer in the Closing Notice.

 

[Signature Page to Subscription Agreement]

 

     

     

    

 

IN WITNESS WHEREOF, Issuer has accepted this Subscription
Agreement as of the date set forth below.

 

	 	Allwyn Entertainment AG
  
	 	 
	 	By:	  
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

Date:        ,
2022

 

[Signature Page to Subscription Agreement]

 

     

     

    

 

IN WITNESS WHEREOF, SPAC has accepted this Subscription
Agreement as of the date set forth below.

 

	 	Cohn Robbins Holdings Corp.
	 	 
	 	By:	/s/ Clifton S. Robbins
	 	 	Name: 	Clifton S. Robbins
	 	 	Title:	Co-Chairman

 

Date:        ,
2022

 

[Signature Page to Subscription Agreement]

 

     

     

    

 

SCHEDULE A

 

ELIGIBILITY REPRESENTATIONS OF THE INVESTOR

 

A. QUALIFIED INSTITUTIONAL BUYER STATUS

(Please check the applicable subparagraphs):

 

☐ We are a “qualified institutional buyer” (as defined
in Rule 144A under the Securities Act).

** OR **

 

B. 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) or an entity in which all of the equity holders are accredited investors within the meaning of Rule 501(a) under
the Securities Act, and have marked and initialed the appropriate box on the following page indicating the provision under which we qualify
as an “accredited investor.”

 

		2.	☐ We are not a natural person.

 

Rule 501(a) under the Securities Act, in
relevant part, states that an “accredited investor” shall mean any person who comes within any of the below listed categories,
or who the issuer reasonably believes comes within any of the below listed categories, at the time of the sale of the securities to that
person. You have indicated, by marking and initialing the appropriate box below, the provision(s) below which apply to you and under which
you accordingly qualify as an “accredited investor.”

 

		☐	Any bank or any savings and loan association, registered broker or dealer, insurance company, registered
investment company, business development company, or small business investment company;

 

		☐	Any 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 such plan has total assets in excess of $5,000,000;

 

		☐	Any employee benefit plan, within the meaning of the Employee Retirement Income Security Act of 1974,
if a bank, insurance company, or registered investment advisor makes the investment decisions, or if the plan has total assets in excess
of $5,000,000;

 

		☐	Any organization described in Section 501(c)(3) of the Internal Revenue Code, corporation, Massachusetts
or similar business trust, partnership, or limited liability company, not formed for the specific purpose of acquiring the securities
offered, with total assets in excess of $5,000,000;

 

		☐	Any “family office,” as defined in rule 202(a)(11)(g)-1 under the Investment Advisers Act
of 1940, as amended, with assets under management in excess of $5,000,000, not formed to acquire the securities offered, and whose prospective
investment is directed by a person who has such knowledge and experience in financial and business matters that such family office is
capable of evaluating the merits and risks of the prospective investment;

 

		☐	Any natural person whose individual net worth, or joint net worth with that person’s spouse, exceeds
$1,000,000. For purposes of calculating a natural person’s net worth: (a) the person’s primary residence shall not be
included as an asset; (b) indebtedness that is secured by the person’s primary residence, up to the estimated fair market value
of the primary residence at the time of the sale of securities, shall not be included as a liability (except that if the amount of such
indebtedness outstanding at the time of sale of securities exceeds the amount outstanding 60 days before such time, other than as a result
of the acquisition of the primary residence, the amount of such excess shall be included as a liability); and (c) indebtedness that is
secured by the person’s primary residence in excess of the estimated fair market value of the primary residence at the time of the
sale of securities shall be included as a liability;

 

		☐	Any natural person who had an individual income in excess of $200,000 in each of the two most recent years
or joint income with that person’s spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching
the same income level in the current year;

 

		☐	Any trust with assets in excess of $5,000,000, not formed to acquire the securities offered, whose purchase
is directed by a sophisticated person as described in Rule 506 under the Securities Act; or

 

		☐	Any entity in which all of the equity owners are accredited investors meeting one or more of the above
tests.

 

These pages should be completed by the
Investor

and constitute a part of the Subscription Agreement

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