Document:

Exhibit
10.1

 

SUBSCRIPTION
AGREEMENT

 

This
SUBSCRIPTION AGREEMENT (this “Subscription Agreement”) is entered into on December 28, 2021, by and between NextGen
Acquisition Corp. II, a Cayman Islands exempted company (“NextGen”),
and the undersigned subscriber (the “Investor”).
Capitalized terms used but not otherwise defined herein have the meanings set forth in the Transaction Agreement (as defined below).

 

WHEREAS,
this Subscription Agreement is being entered into in connection with the Agreement and Plan of Merger, dated as of August 22, 2021 (as
may be amended, supplemented or otherwise modified from time to time, the “Transaction
Agreement”), by and among NextGen, Vieco USA, Inc., a Delaware corporation (the “Company”),
Pulsar Merger Sub, Inc., a Delaware corporation (“NextGen
Merger Sub”), and the other parties thereto, pursuant to which, among other things, NextGen Merger Sub will merge with
and into the Company, with the Company as the surviving company in the merger and, after giving effect to such merger, becoming a wholly
owned subsidiary of NextGen, and NextGen will change its name to “Virgin Orbit Holdings, Inc.,” on the terms and subject
to the conditions therein (the “Transaction”);

 

WHEREAS,
prior to the closing of the Transaction (and as more fully described in the Transaction Agreement), NextGen will domesticate as a Delaware
corporation in accordance with Section 388 of the General Corporation Law of the State of Delaware and Part XII of the Cayman Islands
Companies Law (2020 Revision) (the “Domestication”);

 

WHEREAS,
prior to the date hereof, NextGen entered into: (a) separate subscription agreements (the “Insider Subscription Agreements”)
with the Investor and certain other investors that may include existing directors, officers or securityholders (including, for the avoidance
of doubt, holders of convertible securities) of NextGen, NextGen Sponsor LLC, a Cayman Islands limited liability company, the Company
and/or their respective affiliates with an aggregate purchase price of $60,000,000 (collectively, the “Insider PIPE Investors”
and, such investment, the “Insider PIPE Investment”) substantially similar to this Subscription Agreement; and (b)
separate subscription agreements (collectively, the “Other PIPE Agreements” and, together with the Insider Subscription
Agreements, the “Other Subscription Agreements”) substantially similar to this Subscription Agreement with certain
investors (other than the Insider PIPE Investors) with an aggregate purchase price of $40,000,000 (inclusive of the Subscription Amount)
(together with the Insider PIPE Investment and the investment contemplated by this Subscription Agreement, the “PIPE Investment”);

 

WHEREAS,
pursuant to Section 9.1(h) of the Transaction Agreement, the closing of the Transaction is conditioned upon the sum of (x) the
Trust Amount plus (y) the PIPE Investment Amount equaling or exceeding $200,000,000 (the “Minimum Available Acquiror
Cash Amount”); and

 

WHEREAS,
in connection with Minimum Available Acquiror Cash Amount, the Investor desires to subscribe for and purchase from NextGen a number of
shares of NextGen’s Class A common stock, par value $0.0001 per share, as such shares will exist as common stock following the
Domestication (the “Shares”),
in a private placement for a purchase price of $10.00 per share (the “Per Share Subscription Price”), having a value
equal to the aggregate purchase price set forth on the signature page hereto (the “Subscription
Amount”).

 

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 and NextGen acknowledges and agrees as follows:

 

1. Subscription.
Subject to the terms and conditions hereof, the Investor hereby irrevocably subscribes for and agrees to purchase from NextGen, and NextGen
agrees to issue and sell to the Investor, the number of Shares set forth on the signature page of this Subscription Agreement on the
terms and subject to the conditions provided for herein. The Investor acknowledges and agrees that, as a result of the Domestication,
the Shares that will be issued pursuant hereto shall be shares of common stock in a Delaware corporation (and not shares in a Cayman
Islands exempted company).

 

     

     

    

 

2. Closing.
The closing of the sale of the Shares contemplated hereby (the “Closing”)
shall occur on the closing date of the Transaction (the “Closing
Date”) and be conditioned upon the prior or substantially concurrent consummation of the Transaction and satisfaction
of the other conditions set forth in Section 3 hereof. One (1) business day prior to the Closing Date, the Investor shall
deliver the Subscription Amount by wire transfer of United States dollars in immediately available funds to the account(s) specified
by NextGen in writing at least three (3) business days prior to the Closing Date. On the Closing Date, NextGen shall (i) issue the Shares
to the Investor and subsequently cause the Shares to be registered in book-entry form in the name of the Investor (or its nominee in
accordance with delivery instructions, as applicable) on NextGen’s share register and (ii) as soon as practical following the Closing,
deliver to the Investor a certificate of NextGen’s transfer agent confirming the issuance and delivery of the Shares to the Investor
(or such nominee or custodian) as of the Closing Date (or such other evidence of issuance of the Shares from NextGen’s transfer
agent reasonably acceptable to the Investor). For purposes of this Subscription Agreement, “business
day” shall mean any day, other than a Saturday, a Sunday or other day on which commercial banks in New York, New York
or governmental authorities in the Cayman Islands (for so long as NextGen remains domiciled in Cayman Islands) are authorized or required
by law to close. Prior to or at the Closing Date, Investor shall deliver to NextGen a duly completed and executed Internal Revenue Service
Form W-9 or appropriate Form W-8. In the event the Closing does not occur, NextGen shall promptly (but not later than three (3) business
days after the date on which Investor delivers the Subscription Amount to NextGen) return or cause the return of the Subscription Amount
to the Investor by wire transfer of U.S. dollars in immediately available funds to the account specified by the Investor, and any book-entries
for the Shares shall be deemed cancelled; provided that, unless this Subscription Agreement has been terminated pursuant to Section 8
hereof, such return of funds shall not terminate this Subscription Agreement or relieve the Investor of its obligation to purchase
the Shares at the Closing upon delivery by NextGen of a subsequent Closing Notice in accordance with this Section 2. For
the avoidance of doubt, if any termination hereof occurs after the delivery by the Investor of the Subscription Amount for the Shares
and prior to the Closing, NextGen shall promptly (but not later than one (1) business day thereafter) return the Subscription Amount
to Investor without any deduction for or on account of any tax, withholding, charges or set-off.

 

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

 

(a) there
shall not be in force any injunction or order issued by any governmental authority enjoining or prohibiting the issuance and sale of
the Shares under this Subscription Agreement;

 

(b) solely
with respect to the Investor’s obligation to close, no amendments or modifications of the Transaction Agreement by NextGen or the
Company or waivers under the Transaction Agreement by NextGen shall have occurred that materially and adversely affect the economic benefits
the Investor would reasonably expect to receive under this Subscription Agreement without the Investor’s prior written consent;

 

(c) all
conditions precedent to the closing of the Transaction as set forth in the Transaction Agreement, including all necessary approvals of
NextGen’s shareholders and regulatory approvals, if any, shall have been satisfied or waived (as determined by the applicable parties
to the Transaction Agreement and other than those conditions that, by their nature, (x) may only be satisfied at the closing of the Transaction
(including to the extent that any such condition is dependent upon the consummation of the purchase and sale of the Shares pursuant to
this Subscription Agreement and the Other Subscription Agreements), but subject to the satisfaction or waiver of such conditions as of
the Closing, or (y) will be satisfied by the Closing and the closing of the transactions contemplated by the Other Subscription Agreements);

 

(d) solely
with respect to the Investor’s obligation to close, the representations and warranties made by NextGen in Section 5 of this
Subscription Agreement shall be true and correct in all respects 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, in each case, except for any failure of such representations
and warranties to be so true and correct as would not reasonably be expected to have, individually or in the aggregate, a Material Adverse
Effect (as defined below) on NextGen or its ability to consummate the transactions contemplated hereby;

 

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(e) solely
with respect to the NextGen’s obligation to close, the representations and warranties made by the Investor in Section 6
of this Subscription Agreement shall be true and correct in all respects 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, in each case, except for any failure
of such representations and warranties to be so true and correct as would not reasonably be expected to have, individually or in the
aggregate, a material adverse effect on the Investor or its ability to consummate the transactions contemplated hereby;

 

(f) solely
with respect to NextGen’s obligation to close, the Investor shall have wired the Subscription Amount in accordance with Section 2
of this Subscription Agreement and otherwise performed or complied in all material respects all of its covenants and agreements contained
in this Subscription Agreement that are required to be performed or complied with by the Investor on or before the Closing Date; provided,
that this condition shall be deemed satisfied unless written notice of such non-compliance is provided by NextGen to the Investor and
the Investor fails to cure such non-compliance in all material respects within five (5) Business Days of receipt of such notice;

 

(g) solely
with respect to the Investor’s obligation to close, NextGen shall have performed or complied in all material respects with all
of its covenants and agreements contained in this Subscription Agreement that are required to be performed or complied with by NextGen
on or before the Closing Date; provided, that this condition shall be deemed satisfied unless written notice of such non-compliance
is provided by the Investor to NextGen and NextGen fails to cure such non-compliance in all material respects within five (5) Business
Days of receipt of such notice;

 

(h) no
suspension of the qualification of the Class A ordinary shares, par value $0.0001 per share, of NextGen (“Class A Shares”)
for offering or sale or trading on the Nasdaq Stock Market LLC (“Nasdaq”), and no initiation or threatening of any
proceedings for any of such purposes or delisting, shall have occurred and be continuing, and the Shares shall be approved for listing
on Nasdaq or the New York Stock Exchange (“NYSE”), subject to official notice of issuance; and

 

(i) solely
with respect to the Investor’s obligation to close, there shall have been no amendment, waiver, or modification to the Other Subscription
Agreements that materially economically benefits any other investor unless the Investor has been offered substantially the same benefits.

 

4. Further
Assurances. At or prior to the Closing, the parties hereto shall execute and deliver such additional documents and take such additional
actions as the parties deem to be reasonably necessary or advisable in order to consummate the subscription as contemplated by this Subscription
Agreement (the “Subscription”).

 

5. NextGen
Representations, Warranties and Agreements. NextGen represents and warrants to, and agrees with, the Investor that:

 

(a) NextGen
is an exempted company duly incorporated, validly existing and in good standing under the laws of the Cayman Islands. NextGen 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, following the Domestication,
NextGen will be duly incorporated, validly existing as a corporation and in good standing under the laws of the State of Delaware.

 

(b) As
of the Closing Date, the 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 Shares will be validly issued, fully paid and non-assessable and will
not have been issued in violation of or subject to any liens or preemptive or similar rights created under NextGen’s certificate
of incorporation (as in effect at such time of issuance) or under the Delaware General Corporation Law (other than those arising under
this Subscription Agreement or applicable securities laws).

 

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(c) This
Subscription Agreement has been duly authorized, executed and delivered by NextGen and, assuming that this Subscription Agreement constitutes
the valid and binding agreement of the Investor, this Subscription Agreement constitutes a valid and binding agreement of NextGen and
is enforceable against NextGen 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.

 

(d) The
issuance and sale by NextGen of the Shares and the execution and delivery of, and compliance by NextGen with all of the provisions pursuant
to, this Subscription Agreement and the consummation of the transactions contemplated hereby will not conflict with or result in a breach
or violation of any of the terms or provisions of, or constitute a default under, or result in the creation or imposition of any lien,
charge or encumbrance upon any of the property or assets of NextGen or any of its subsidiaries pursuant to the terms of (i) any
indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement or instrument to which NextGen or any of its subsidiaries
is a party or by which NextGen or any of its subsidiaries is bound or to which any of the property or assets of NextGen is subject that
would reasonably be expected to have a material adverse effect on the business, financial condition or results of operations of NextGen
and its subsidiaries, taken as a whole (a “Material
Adverse Effect”), or materially affect the validity of the Shares or the legal authority of NextGen to comply in all
material respects with its obligations under this Subscription Agreement; (ii) the provisions of the organizational documents of NextGen;
or (iii) any statute or any judgment, order, rule or regulation of any court or governmental agency or body, domestic or foreign, having
jurisdiction over NextGen or any of its properties that would reasonably be expected to have a Material Adverse Effect or materially
affect the validity of the Shares or the legal authority of NextGen to comply in all material respects with its obligations under this
Subscription Agreement.

 

(e) As
of their respective filing dates, all reports required to be filed by NextGen with the U.S. Securities and Exchange Commission (the “SEC”)
since March 22, 2021 (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 and none of the SEC Reports, when filed, contained any untrue statement of material fact or omitted to state a material fact
required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made,
not misleading; provided, that notwithstanding anything to the contrary in this Subscription Agreement, no representation or warranty
is made under this Subscription Agreement or otherwise as to the timeliness of the filing of NextGen’s Form 10-Q for the quarterly
period ended March 31, 2021 filed on May 26, 2021 with the SEC, as to the accounting treatment of the Company’s issued and outstanding
warrants, or as to any deficiencies in disclosure (including with respect to accounting and disclosure controls) arising from the accounting
treatment of such warrants, in any SEC Reports, or as to the accounting treatment of the Company's Class A common stock subject to possible
redemption as temporary equity. The financial statements of NextGen 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 (as
amended or superseded) and fairly present in all material respects the financial position of NextGen 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 statements, to normal, year-end
audit adjustments. As of the date hereof, there are no material outstanding or unresolved comments in comment letters received by NextGen
from the staff of the Division of Corporation Finance of the SEC with respect to any of the SEC Reports.

 

(f) Assuming
the accuracy of the Investor’s representations and warranties set forth in Section 6 of this Subscription Agreement,
NextGen is not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or registration
with, any court or other federal, state, local or other governmental authority, self-regulatory organization or other person in connection
with the issuance of the Shares pursuant to this Subscription Agreement, other than (i)  filings with the SEC, (ii) filings required
by applicable state securities laws, (iii) the filings required in accordance with Section 12 of this Subscription Agreement;
(iv) those required by Nasdaq, including with respect to obtaining approval of NextGen’s stockholders, and (v) the failure
of which to obtain would not be reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect or have a
material adverse effect on NextGen’s ability to consummate the transactions contemplated hereby, including the sale and issuance
of the Shares.

 

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(g) As
of the date hereof, NextGen has not received any written communication from a governmental authority that alleges that NextGen 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, a Material Adverse Effect.

 

(h) As
of the date hereof, there is no (i) suit, action, claim, proceeding or arbitration before a governmental authority or arbitrator pending,
or, to the knowledge of NextGen, threatened against NextGen or (ii) judgment, decree, injunction, ruling or order of any governmental
entity or arbitrator outstanding against NextGen, except, in each case, for such matters as would not be reasonably expected to have,
individually or in the aggregate, a Material Adverse Effect.

 

(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
sale of the Shares by NextGen to the Investor.

 

(j) Neither
NextGen nor any person acting on its behalf has offered or sold the Shares by any form of general solicitation or general advertising
in violation of the Securities Act.

 

(k) As
of the date hereof, the authorized share capital of NextGen consists of (i) 5,000,000 undesignated preferred shares, par value $0.0001
per share (“Preferred Shares”), (ii) 500,000,000 Class A Shares and (iii) 50,000,000 Class B ordinary shares, par
value $0.0001 per share (“Class B Shares”). As of the date hereof: (1) no Preferred Shares are issued and outstanding,
(2) 38,259,457 Class A Shares are issued and outstanding, (3) 9,564,864 Class B Shares are issued and outstanding and (4) 14,419,818
warrants, each entitling the holder thereof to purchase one Class A Share at an exercise price of $11.50 per Class A Share, are outstanding.

 

(l) 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 Nasdaq. There is no suit, action, proceeding or investigation pending or, to the knowledge of NextGen, threatened against
NextGen by Nasdaq or the SEC with respect to any intention by such entity to deregister NextGen’s Class A Shares or prohibit or
terminate the listing of NextGen’s Class A Shares on Nasdaq. NextGen has taken no action that is designed to terminate the registration
of its Class A Shares under the Exchange Act.

 

(m) Other
than as set forth in the Transaction Agreement, there are no securities or instruments issued by or to which NextGen is a party containing
anti-dilution or similar provisions that will be triggered by the issuance of (i) the Shares or (ii) the shares to be issued pursuant
to any Other Subscription Agreement, in each case that have not been or will not be validly waived on or prior to the Closing Date.

 

(n) NextGen
is not under any obligation to pay any broker’s fee or commission in connection with the sale of the Shares.

 

(o) The
Other Subscription Agreements reflect the same Per Share Subscription Price and other terms and conditions with respect to the purchase
of the Shares that are no more favorable to such subscriber thereunder than the terms of this Subscription Agreement, other than terms
particular to the regulatory requirements of such subscriber or its affiliates or related funds, and there is no side letter or other
agreement that modifies such Per Share Subscription Price and such other terms and conditions with respect to the purchase of the Shares.
Furthermore, if, and whenever on or after the date hereof, NextGen (i) enters into any subscription agreements for the purchase of Class
A Shares with the closing of such purchase to occur in connection with the closing of the Transaction, (ii) enters into a side letter
or other agreement that modifies such Per Share Subscription Price or modifies or provides for other terms and conditions with respect
to the purchase of the Shares, or (iii) otherwise amends or modifies any of the Other Subscriptions Agreements, side letters or other
agreements, in each case, pursuant to which the terms and conditions thereof are more favorable to such other subscriber, other than
terms particular to the regulatory requirements of such subscriber or its affiliates or related funds, this Agreement shall be, without
any further action by the Investor or NextGen, automatically amended and modified in an economically and legally equivalent manner such
that the Investor shall receive the benefit of the more favorable terms and/or conditions (as the case may be) set forth in such other
subscription agreement, side letter or other agreement. Notwithstanding anything to the contrary herein, entry into agreements, side
letters, or other arrangements with respect to the sale, supply, marketing or distribution of goods or services shall be excluded from
the foregoing.

 

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6. Investor
Representations, Warranties and Agreements. The Investor represents and warrants to, and agrees with, NextGen that:

 

(a) The
Investor (i) is a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act) or an institutional
“accredited investor” (within the meaning of Rule 501(a) (1), (2), (3) or (7) under the Securities Act), in each case,
satisfying the applicable requirements set forth on Schedule A, (ii) is acquiring its entire beneficial ownership interest
in the Shares only for his, her or its own account and not for the account of others, or if the Investor is subscribing for the Shares
as a fiduciary or agent for one or more investor 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 Shares for investment purposes only and is not acquiring the Shares with a view to, or for offer
or sale in connection with, any distribution thereof in violation of the Securities Act or any other securities laws of the United States
or any other jurisdiction (and shall provide the requested information set forth on Schedule A). The Investor is not an entity
formed for the specific purpose of acquiring the Shares and the Investor is an “institutional account” as defined by FINRA
Rule 4512(c).

 

(b) The
Investor acknowledges and agrees that the Shares are being offered in a transaction not involving any public offering within the meaning
of the Securities Act, that the Shares have not been registered under the Securities Act or any other securities laws of the United States
or any other jurisdiction and that NextGen is not required to register the Shares except as set forth in Section 7 of this
Subscription Agreement. The Investor acknowledges and agrees that, unless the resale of the Shares has been registered pursuant to an
effective registration statement under the Securities Act, the Shares may not be offered, resold, transferred, pledged or otherwise disposed
of by the Investor except (i) to NextGen 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 representing the Shares shall contain
a restrictive legend to the following effect:

 

		(i)	THIS
                                            SECURITY HAS BEEN ACQUIRED FOR INVESTMENT AND WITHOUT A VIEW TO DISTRIBUTION AND HAS NOT
                                            BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”), OR UNDER STATE
                                            SECURITIES LAWS.  NO TRANSFER, SALE, ASSIGNMENT, PLEDGE, HYPOTHECATION OR OTHER DISPOSITION
                                            OF THIS SECURITY OR ANY INTEREST OR PARTICIPATION THEREIN MAY BE MADE EXCEPT (A) PURSUANT
                                            TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR (B) PURSUANT TO AN EXEMPTION FROM
                                            REGISTRATION UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS AND, IN THE CASE OF CLAUSE
                                            (B), UNLESS THE ISSUER RECEIVES AN OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY
                                            TO THE ISSUER TO THE EFFECT THAT REGISTRATION IS NOT REQUIRED UNDER THE ACT AND APPLICABLE
                                            STATE SECURITIES LAWS.  IN ADDITION, ANY SUCH TRANSFER OR OTHER DISPOSITION IS SUBJECT
                                            TO THE CONDITIONS CONTAINED IN A SUBSCRIPTION AGREEMENT, DATED DECEMBER 28, 2021.  A
                                            COPY OF SUCH CONDITIONS WILL BE PROVIDED TO THE HOLDER HEREOF UPON REQUEST.

 

(c) The
Investor acknowledges and agrees that the 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 Shares and
may be required to bear the financial risk of an investment in the Shares for an indefinite period of time. The Investor acknowledges
and agrees that it has been advised to consult legal, tax and accounting prior to making any offer, resale, transfer, pledge or disposition
of any of the Shares.

 

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(d) The
Investor acknowledges and agrees that the Investor is purchasing the Shares from NextGen. The Investor further acknowledges that there
have been no representations, warranties, covenants and agreements made to the Investor by or on behalf of NextGen, 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
NextGen expressly set forth in Section 5 of this Subscription Agreement and the investor presentation and materials provided
by NextGen to Investor, in making its investment or decision to invest in NextGen; provided that this Section 6(d) shall not apply
to the representations, warranties, covenants and agreements made in that certain Subscription Agreement, dated as of August 22, 2021
(the “Prior Investor Subscription Agreement”), by and between NextGen and the Investor.

 

(e) The
Investor has (i) received, reviewed and understood the offering materials made available to it in connection with the Subscription, (ii)
had the opportunity to ask questions of and receive answers from the Company directly and (iii) conducted and completed its own independent
due diligence with respect to the Subscription. Based on such information the Investor has deemed appropriate, the Investor has independently
made its own analysis and decision to enter into the Subscription. Except for the representations, warranties and agreements of NextGen
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 Subscription, the Shares and the
business, condition (financial and otherwise), management, operations, properties and prospects of NextGen, including but not limited
to all business, legal, regulatory, accounting, credit and tax matters.

 

(f) The
Investor became aware of this offering of the Shares solely by means of direct contact between the Investor and NextGen, the Company
or a representative of NextGen or the Company, and the Shares were offered to the Investor solely by such direct contact. The Investor
did not become aware of this offering of the Shares, nor were the Shares offered to the Investor, by any other means. The Investor acknowledges
that the Shares (i) were not offered to the Investor by any form of general solicitation or general advertising and (ii) are
not being offered to the Investor in a manner involving a public offering under, or in a distribution in violation of, the Securities
Act, or any state securities laws. 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 NextGen, the Company, 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 NextGen contained in Section 5 of this Subscription Agreement, in making its investment or decision to invest in NextGen;
provided that this Section 6(f) shall not apply to the representations or warranties made in the Prior Investor Subscription Agreement.

 

(g) The
Investor acknowledges that it is aware that there are substantial risks incident to the purchase and ownership of the Shares, including
those set forth in NextGen’s filings with the SEC. 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 Shares, and 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 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 neither NextGen nor 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.

 

(h) Alone,
or together with any professional advisor(s), the Investor has adequately analyzed and fully considered the risks of an investment in
the Shares and determined that the Shares are a suitable investment for the Investor and that the Investor is able at this time and in
the foreseeable future to bear the economic risk of a total loss of the Investor’s investment in NextGen. The Investor acknowledges
specifically that a possibility of total loss exists.

 

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

 

(j) The
Investor 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, with power and authority to enter into, deliver and perform its obligations under this Subscription Agreement.

 

(k) 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, the Investor will not violate any provisions of the Investor’s organizational documents,
including 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 has been duly authorized to execute the same,
and, assuming that this Subscription Agreement constitutes the valid and binding agreement of NextGen, 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.

 

(l) Neither
the Investor nor 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 (i) a person or entity named on the Specially Designated Nationals and Blocked Persons
List, the Foreign Sanctions Evaders List, the Sectoral Sanctions Identification List, or any other similar list of sanctioned persons
administered by the U.S. Treasury Department’s Office of Foreign Assets Control, or any similar list of sanctioned persons administered
by the European Union or any individual European Union member state, including the United Kingdom (collectively, “Sanctions
Lists”); (ii) directly or indirectly owned or controlled by, or acting on behalf of, one or more persons on a Sanctions
List; (iii) organized, incorporated, established, located, resident or born in, or a citizen, national, or the government, including
any political subdivision, agency, or instrumentality thereof, of, Cuba, Iran, North Korea, Syria, Venezuela, the Crimea region of Ukraine,
or any other country or territory embargoed or subject to substantial trade restrictions by the United States, the European Union or
any individual European Union member state, including the United Kingdom; (iv) a Designated National as defined in the Cuban Assets
Control Regulations, 31 C.F.R. Part 515; or (v) a non-U.S. shell bank or providing banking services indirectly to a non-U.S. shell
bank (collectively, 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.),
as amended by the USA PATRIOT Act of 2001, 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 sanctions administered by the United States, the European Union, or any individual European Union member state, including the United
Kingdom, to the extent applicable to it. The Investor further represents that the funds held by the Investor and used to purchase the
Shares were legally derived and were not obtained, directly or indirectly, from a Prohibited Investor.

 

(m) 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 similar to such provisions of ERISA or the Code (collectively, “Similar
Laws,” and together with ERISA Plans, “Plans”),
then the Investor represents and warrants that (1) neither NextGen nor any of its affiliates has provided investment advice or has
otherwise acted as the Plan’s fiduciary, with respect to its decision to acquire and hold the 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 Shares; and (2) its purchase of the 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.

 

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(n) As
of the date hereof, the Investor does not have any “put equivalent position” as such term is defined in Rule 16a-1 under
the Exchange Act or short sale positions with respect to the securities of NextGen; provided that 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 set forth above shall only apply with respect to the portion of assets managed by the portfolio manager that made the
investment decision to purchase the Shares covered by this Subscription Agreement. For the avoidance of doubt, this Section 6(n)
shall not apply to ordinary course, non-speculative hedging transactions.

 

(o) The
Investor has or has commitments to have and, when required to deliver payment to NextGen pursuant to Section 2 above, will
have sufficient funds to pay the Subscription Amount and consummate the purchase and sale of the Shares pursuant to this Subscription
Agreement.

 

(p) No
broker’s or finder’s fees or commissions will be payable by the Investor with respect to the transactions contemplated hereby.

 

(q) The
Investor is not a “foreign person,” “foreign government,” or a “foreign entity,” in each case, as
defined in Section 721 of the Defense Production Act of 1950, as amended, including, without limitation, all implementing regulations
thereof (the “DPA”). The Investor is not controlled, in whole or in part, by a “foreign person,” as defined
in the DPA. The Investor is purchasing the Shares “solely for the purpose of passive investment,” as defined in 31 C.F.R.
§ 800.243. The Investor will not (i) have control (as defined in 31 C.F.R. §800.208) over NextGen from and after the Closing
solely as a result of the purchase and sale of the Shares hereunder or (ii) have any of the rights with respect to NextGen that are set
forth at 31 C.F.R. §800.211(b) as rights of a foreign person with respect to a “TID U.S. business.”

 

7. Registration
Rights.

 

(a) NextGen
agrees that, within thirty (30) days following the Closing Date (such deadline, the “Filing Deadline”), NextGen will
submit to or file with the SEC (at NextGen's expense) a registration statement for a shelf registration on Form S-1, Form S-3 (if NextGen
is then eligible to use a Form S-3 shelf registration) or other appropriate form (the “Registration
Statement”), in each case, covering the resale of the Shares acquired by the Investor pursuant to this Subscription
Agreement which are eligible for registration (determined as of two (2) business days prior to such submission or filing) (the “Registrable
Shares”) and NextGen shall use its commercially reasonable efforts to have the Registration Statement declared effective as
promptly as practicable after the filing thereof, but no later than the earliest of (i) the 90th calendar day following the filing
date thereof if the SEC notifies NextGen that it will “review” the Registration Statement, (ii) the first anniversary of
the date of this Subscription Agreement, (iii) the 10th business day after the date NextGen is notified (orally or in writing, whichever
is earlier) by the SEC that the Registration Statement will not be “reviewed” or will not be subject to further review and
(iv) the 90th calendar day following the Closing (such earlier date, the “Effectiveness
Deadline”); provided, however, that if such day falls on a Saturday, Sunday or other day that the SEC is closed
for business, the Effectiveness Deadline shall be extended to the next Business Day on which the SEC is open for business; provided
further, that NextGen’s obligations to include the Registrable Shares in the Registration Statement are contingent upon Investor
furnishing in writing to NextGen such information regarding Investor or its permitted assigns, the securities of NextGen held by Investor
and the intended method of disposition of the Registrable Shares (which shall be limited to non-underwritten public offerings) as shall
be reasonably requested by NextGen to effect the registration of the Registrable Shares, and Investor shall execute such documents in
connection with such registration as NextGen may reasonably request that are customary of a selling shareholder in similar situations,
including providing that NextGen shall be entitled to postpone and suspend the effectiveness or use of the Registration Statement, if
applicable, during any customary blackout or similar period or as permitted hereunder; provided that Investor shall not in connection
with the foregoing be required to execute any lock-up or similar agreement or otherwise be subject to any contractual restriction on
the ability to transfer the Registrable Shares. NextGen will use its commercially reasonable efforts to provide a draft of the Registration
Statement to the Investor for review at least two (2) business days in advance of the date of filing the Registration Statement with
the SEC; provided that for the avoidance of doubt, in no event shall NextGen be required to delay or postpone the filing of such
Registration Statement as a result of or in connection with the Investor’s review.

 

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(b) For
as long as the Investor holds Shares, NextGen will use commercially reasonable efforts to file all reports for so long as the condition
in Rule 144(c)(1) (or Rule 144(i)(2), if applicable) is required to be satisfied, and provide all customary and reasonable cooperation,
necessary to enable the undersigned to resell the Shares pursuant to Rule 144 promulgated under the Securities Act (“Rule 144”)
(in each case, when Rule 144 of the Securities Act becomes available to the Investor). Any failure by NextGen to file the Registration
Statement by the Filing Deadline or to effect such Registration Statement by the Effectiveness Deadline shall not otherwise relieve NextGen
of its obligations to file or effect the Registration Statement as set forth above in this Section 7. Notwithstanding the
foregoing, if the SEC prevents NextGen from including any or all of the shares proposed to be registered under the Registration Statement
due to limitations on the use of Rule 415 of the Securities Act for the resale of the Shares by the applicable shareholders or otherwise,
such Registration Statement shall register for resale such number of Shares which is equal to the maximum number of Shares as is permitted
by the SEC. In such event, the number of Shares to be registered for each selling shareholder named in the Registration Statement shall
be reduced pro rata among all such selling shareholders and as promptly as practicable after being permitted to register additional Registrable
Shares under Rule 415 under the Securities Act, NextGen shall amend the Registration Statement or file a new Registration Statement to
register such Registrable Shares not included in the initial Registration Statement and shall use commercially reasonable efforts to
have such amendment or Registration Statement declared effective as soon as practicable after the filing thereof, but no later than the
Effectiveness Deadline. As soon as is reasonably practicable upon notification by the SEC that the Registration Statement has been declared
effective by the SEC, NextGen shall file the final prospectus under Rule 424 of the Securities Act. If the SEC determines that any resale
of the Shares is deemed a primary offering, NextGen will use its commercially reasonable efforts to dispute the SEC’s determination.
In no event shall the Investor be identified as a statutory underwriter in the Registration Statement unless requested by the SEC or
another regulatory agency; provided that if the SEC or another regulatory agency requests that the Investor be identified as a
statutory underwriter in the Registration Statement, the Investor will have an opportunity to withdraw from the Registration Statement.

 

(c) At
its expense NextGen shall:

 

(i) except
for such times as NextGen is permitted hereunder to suspend the use of the prospectus forming part of a Registration Statement, use its
commercially reasonable efforts to keep such registration, and any qualification, exemption or compliance under state securities laws
which NextGen determines to obtain, continuously effective with respect to the Investor, and to keep the applicable Registration Statement
or any subsequent shelf registration statement free of any material misstatements or omissions, until the earlier of the following: (A) Investor
ceases to hold any Registrable Shares, (B) the date all Registrable Shares held by Investor may be sold without restriction under
Rule 144, including, without limitation, any volume and manner of sale restrictions which may be applicable to affiliates under Rule
144, and (C) three (3) years from the date of effectiveness of the Registration Statement;

 

(ii) advise
Investor within five (5) business days:

 

(1) when
a Registration Statement or any amendment thereto has been filed with the SEC and when such Registration Statement or any post-effective
amendment thereto has become effective;

 

(2) after
it shall receive notice or obtain knowledge thereof, of the issuance by the SEC of any stop order suspending the effectiveness of any
Registration Statement or the initiation of any proceedings for such purpose;

 

(3) of
the receipt by NextGen of any notification with respect to the suspension of the qualification of the Registrable Shares included therein
for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and

 

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(4) subject
to the provisions in this Subscription Agreement, of the occurrence of any event that requires the making of any changes in any Registration
Statement or prospectus so that, as of such date, the statements therein are not misleading and do not omit to state a material fact
required to be stated therein or necessary to make the statements therein (in the case of a prospectus, in the light of the circumstances
under which they were made) not misleading.

 

Notwithstanding
anything to the contrary set forth herein, NextGen shall not, when so advising Investor of such events described in Section 7(c)(ii)
above, provide Investor with any material, nonpublic information regarding NextGen other than to the extent that providing notice to
Investor of the occurrence of the events listed in (1) through (4) above constitutes material, nonpublic information regarding NextGen;

 

(iii) use
its commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of any Registration Statement
as soon as reasonably practicable;

 

(iv) upon
the occurrence of any event contemplated in Section 7(c)(ii)(4) above, except for such times as NextGen is permitted hereunder
to suspend, and has suspended, the use of a prospectus forming part of a Registration Statement, NextGen shall use its commercially reasonable
efforts to as soon as reasonably practicable prepare a post-effective amendment to such Registration Statement or a supplement to the
related prospectus, or file any other required document so that, as thereafter delivered to purchasers of the Registrable Shares included
therein, such prospectus will not include any untrue statement of a material fact or omit to state any material fact necessary to make
the statements therein, in the light of the circumstances under which they were made, not misleading;

 

(v) use
its commercially reasonable efforts to cause all Registrable Shares to be listed on each securities exchange or market, if any, on which
the shares of Class A common stock issued by NextGen have been listed;

 

(vi) if
requested by Investor, use commercially reasonable efforts to cause NextGen’s transfer agent to remove the legend set forth above
in Section 6(b)(i), in accordance with the provisions of Section 7(g); and

 

(vii) otherwise,
in good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by the Investor, consistent
with the terms of this Agreement, in connection with the registration of the Registrable Shares.

 

(d) Notwithstanding
anything to the contrary in this Subscription Agreement, NextGen shall be entitled to delay the filing or effectiveness of, or suspend
the use of, the Registration Statement if it reasonably determines that in order for the Registration Statement not to contain a material
misstatement or omission, (i) an amendment thereto would be needed to include information that would at that time not otherwise be required
in a current, quarterly, or annual report under the Exchange Act, (ii) the negotiation or consummation of a transaction by NextGen or
its subsidiaries is pending or an event has occurred, which negotiation, consummation or event NextGen’s board of directors reasonably
believes would require additional disclosure by NextGen in the Registration Statement of material information that NextGen has a bona
fide business purpose for keeping confidential and the non-disclosure of which in the Registration Statement would be expected, in the
reasonable determination of NextGen’s board of directors to cause the Registration Statement to fail to comply with applicable
disclosure requirements, or (iii) in the good faith judgment of the majority of NextGen’s board of directors, such filing or effectiveness
or use of such Registration Statement, would be seriously detrimental to NextGen and the majority of the NextGen board of directors concludes
as a result that it is essential to defer such filing (each such circumstance, a “Suspension
Event”); provided, however, that NextGen may not delay or suspend the Registration Statement on more than three
(3) occasions or for more than sixty (60) consecutive calendar days, or more than ninety (90) total calendar days in each case during
any twelve (12) month period. Upon receipt of any written notice from NextGen of the happening of any Suspension Event during the period
that the Registration Statement is effective or if as a result of a Suspension Event the Registration Statement or related prospectus
contains any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make
the statements therein (in light of the circumstances under which they were made, in the case of the prospectus) not misleading, Investor
agrees that (i) it will immediately discontinue offers and sales of the Registrable Shares under the Registration Statement (excluding,
for the avoidance of doubt, sales conducted pursuant to Rule 144) until Investor receives copies of a supplemental or amended prospectus
(which NextGen agrees to promptly prepare) that corrects the misstatement(s) or omission(s) referred to above and receives notice that
any post-effective amendment has become effective or unless otherwise notified by NextGen that it may resume such offers and sales, and
(ii) it will maintain the confidentiality of any information included in such written notice delivered by NextGen unless otherwise
required by law or subpoena. If so directed by NextGen, Investor will deliver to NextGen or, in Investor’s sole discretion destroy,
all copies of the prospectus covering the Registrable Shares in Investor’s possession; provided, however, that this obligation
to deliver or destroy all copies of the prospectus covering the Registrable Shares shall not apply (A) to the extent Investor is
required to retain a copy of such prospectus (1) in order to comply with applicable legal, regulatory, self-regulatory or professional
requirements or (2) in accordance with a bona fide pre-existing document retention policy or (B) to copies stored electronically
on archival servers as a result of automatic data back-up.

 

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(e) The
Investor may deliver written notice (an “Opt-Out Notice”) to NextGen requesting that the Investor not receive notices
from NextGen otherwise required by Section 7; provided, however, that the Investor may later revoke any such Opt-Out
Notice in writing. Following receipt of an Opt-Out Notice from the Investor (unless subsequently revoked), (i) NextGen shall not deliver
any such notices to the Investor and the Investor shall no longer be entitled to the rights associated with any such notice and (ii)
each time prior to the Investor’s intended use of an effective Registration Statement, the Investor will notify NextGen in writing
at least two (2) business days in advance of such intended use, and if a notice of a Suspension Event was previously delivered (or would
have been delivered but for the provisions of this Section 7(e)) and the related suspension period remains in effect, NextGen
will so notify the Investor, within two (2) business days of the Investor’s notification to NextGen, by delivering to the Investor
a copy of such previous notice of Suspension Event, and thereafter will provide the Investor with the related notice of the conclusion
of such Suspension Event immediately upon its availability.

 

(f) Indemnification.

 

(i)  NextGen
agrees to indemnify and hold harmless, to the extent permitted by law, Investor (to the extent a seller under the Registration Statement),
its directors, officers, partners, managers, members, investment advisors, employees, stockholders, agents and each person who controls
Investor (within the meaning of the Securities Act), to the extent permitted by law, against all losses, claims, damages, liabilities,
and reasonable and documented out of pocket expenses (including, without limitation, any reasonable and documented attorneys’ fees
and expenses incurred in connection with defending any such action or claim of one law firm and one local counsel in each applicable
jurisdiction) caused by any untrue or alleged untrue statement of material fact contained in any Registration Statement, prospectus included
in any Registration Statement (“Prospectus”)
or preliminary Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required
to be stated therein or necessary to make the statements therein (in the case of a Prospectus, in the light of the circumstances under
which they were made) not misleading, except insofar as the same are caused by or contained in any information or affidavit so furnished
in writing to NextGen by or on behalf of such Investor expressly for use therein or such Investor has omitted a material fact from such
information or otherwise violated the Securities Act, Exchange Act or any state securities law or any other law, rule or regulation thereunder; provided, however,
that the indemnification contained in this Section 7(f)(i) shall not apply to amounts paid in settlement of any
losses, claims, damages, liabilities and out of pocket expenses if such settlement is effected without the consent of NextGen (which
consent shall not be unreasonably withheld, conditioned or delayed), nor shall NextGen be liable for any losses, claims, damages, liabilities
and out of pocket expenses to the extent they arise out of or are based upon a violation which occurs (A) in reliance upon and in
conformity with written information furnished by an Investor expressly for use in the Prospectus, (B) in connection with any failure
of such person to deliver or cause to be delivered a prospectus made available by NextGen in a timely manner, (C) as a result of
offers or sales effected by or on behalf of any person by means of a “free writing prospectus” (as defined in Rule 405
under the Securities Act) that was not authorized in writing by NextGen, or (D) in connection with any offers or sales effected
by or on behalf of an Investor in violation of Section 7(d) hereof.

 

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(ii) In
connection with any Registration Statement in which an Investor is participating, such Investor shall furnish (or cause to be furnished)
to NextGen in writing such information and affidavits as NextGen reasonably requests for use in connection with any such Registration
Statement or Prospectus and, to the extent permitted by law, shall indemnify NextGen, its directors, officers, agents, employees and
each person or entity who controls NextGen (within the meaning of the Securities Act) against any losses, claims, damages, liabilities,
and reasonable and documented out-of-pocket expenses (including reasonable and documented attorneys’ fees of one law firm) resulting
from any untrue or alleged untrue statement of material fact contained or incorporated by reference in any Registration Statement, Prospectus
or preliminary Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required
to be stated therein or necessary to make the statements therein (in the case of a Prospectus, in the light of the circumstances under
which they were made) not misleading, but only to the extent that such untrue statement or omission is contained (or not contained in,
in the case of an omission) in any information or affidavit so furnished in writing by on behalf of such Investor expressly for use therein;
provided, however, that the liability of such Investor shall be several and not joint with any other investor and shall be in
proportion to and limited to the net proceeds received by such Investor from the sale of Registrable Shares giving rise to such indemnification
obligation.

 

(iii) Any
person or entity entitled to indemnification herein shall (A) give prompt written notice to the indemnifying party of any claim with
respect to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any person’s
or entity’s right to indemnification hereunder to the extent such failure has not prejudiced the indemnifying party) and (B) unless
in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist
with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to
the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability for any settlement made
by the indemnified party without its consent (but such consent shall not be unreasonably withheld). An indemnifying party who is not
entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more than one counsel
for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified
party a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to such
claim. No indemnifying party shall, without the consent of the indemnified party, consent to the entry of any judgment or enter into
any settlement which cannot be settled in all respects by the payment of money (and such money is so paid by the indemnifying party pursuant
to the terms of such settlement) or which settlement includes a statement or admission of fault and culpability on the part of such indemnified
party or which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of
a release from all liability in respect to such claim or litigation. 

 

(iv) The
indemnification provided for under this Subscription Agreement shall remain in full force and effect regardless of any investigation
made by or on behalf of the indemnified party or any officer, director or controlling person or entity of such indemnified party and
shall survive the transfer of securities. 

 

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

 

(g) Subject
to receipt from the Investor by NextGen and the transfer agent of customary representations and other documentation reasonably acceptable
to NextGen and the transfer agent in connection therewith, to the effect that the removal of such restrictive legends in such circumstances
may be effected under the Securities Act, upon request by Investor, NextGen shall use commercially reasonable efforts to remove or cause
to be removed any legend from the book-entry position evidencing the Shares within a reasonable time following the earliest of such time
as the Shares (i) (x) are registered under or (y) have been or are about to be sold or transferred pursuant to an effective registration
statement, (ii) have been or are about to be sold or transferred pursuant to Rule 144 or (iii) may be sold by such Investor without restriction
under Rule 144, including without limitation, any volume and manner of sale restrictions. In connection with NextGen’s instruction
to remove any legend from the book-entry position evidencing the Shares pursuant to the preceding sentence, and subject to receipt from
the Investor by NextGen and its counsel of representations and documentation reasonably acceptable to NextGen and its counsel, NextGen
shall cause its legal counsel to deliver an opinion, if necessary, to the transfer agent to the effect that the removal of such restrictive
legend in such circumstance may be effected under the Securities Act. If restrictive legends are no longer required for the Shares pursuant
to the foregoing, NextGen shall, in accordance with the provisions of this section and reasonably promptly following any request therefor
from the Investor accompanied by such customary and reasonably acceptable representations and other documentation referred to above establishing
that restrictive legends are no longer required, deliver to the transfer agent irrevocable instructions that the transfer agent shall
make a new, unlegended entry for the Shares.

 

8. 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, upon the earliest to occur of (a) such
date and time as the Transaction Agreement is terminated in accordance with its terms, (b) upon the mutual written agreement of
each of the parties hereto to terminate this Subscription Agreement, (c) if the conditions to Closing set forth in Section 3
of this Subscription Agreement are not satisfied, 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 and (d) May 23,
2022 or, if the Agreement End Date (as defined in the Transaction Agreement) is extended by the parties thereto, such date shall be August
23, 2022; 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 reasonable and documented out-of-pocket losses,
liabilities or damages arising from any such willful breach. NextGen 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 8, any monies paid by the Investor to NextGen in connection herewith shall be promptly (and in any event within one
(1) business day after such termination) returned to the Investor.

 

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9. Trust
Account Waiver. The Investor acknowledges that NextGen is a blank check company with the powers and privileges to effect a merger,
asset acquisition, reorganization or similar business combination involving NextGen and one or more businesses or assets. The Investor
further acknowledges that, as described in NextGen’s prospectus relating to its initial public offering dated March 25, 2021 (the
“IPO Prospectus”) available at
www.sec.gov, substantially all of NextGen’s assets consist of the cash proceeds of NextGen’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 NextGen, its public shareholders and the underwriter of NextGen’s initial public
offering. Except with respect to interest earned on the funds held in the Trust Account that may be released to NextGen 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 NextGen 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 9 shall (x) serve to limit or prohibit the
Investor’s right to pursue a claim against NextGen for legal relief against assets held outside the Trust Account (so long as such
claim would not affect NextGen’s ability to fulfill its obligation to effectuate any redemption right with respect to any securities
of NextGen), for specific performance or other equitable relief, (y) serve to limit or prohibit any claims that the Investor may have
in the future against NextGen’s assets or funds that are not held in the Trust Account (including any funds that have been released
from the Trust Account and any assets that have been purchased or acquired with any such funds) (so long as such claim would not affect
NextGen’s ability to fulfill its obligation to effectuate any redemption right with respect to any securities of NextGen) or (z)
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 Shares of NextGen acquired by any means other than pursuant to this Subscription Agreement.

 

10. Miscellaneous.

 

(a) Neither
this Subscription Agreement nor any rights that may accrue to the Investor hereunder (other than the Shares acquired hereunder, if any)
may be transferred or assigned, other than (i) by prior written consent from NextGen or (ii) an assignment to one or more affiliates
under common control with Investor, including the investment manager of the Investor and any entity, fund or account managed by the same
investment manager as the Investor or a controlled affiliate thereof, without prior written consent of NextGen, subject to, if such transfer
or assignment is prior to the Closing, such transferee or assignee, as applicable, executing 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 Shares contemplated hereby. Neither this Subscription
Agreement nor any rights that may accrue to NextGen hereunder or any of NextGen’s obligations may be transferred or assigned other
than pursuant to the Transaction.

 

(b) NextGen
may request from the Investor such additional information as NextGen may reasonably deem necessary to evaluate the eligibility of the
Investor to acquire the Shares, to comply with applicable regulatory requirements and in connection with the inclusion of the Shares
in the Registration Statement, and the Investor shall promptly 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, NextGen agrees to keep
any such information provided by the Investor confidential. The Investor acknowledges that NextGen may file a copy of the form of this
Subscription Agreement with the SEC as an exhibit to a current or periodic report or a registration statement.

 

(c) The
Investor acknowledges that NextGen will rely on the acknowledgments, understandings, agreements, covenants, representations and warranties
of the Investor contained in this Subscription Agreement. Prior to the Closing, the Investor agrees to promptly notify NextGen if any
of the acknowledgments, understandings, agreements, representations and warranties of the Investor set forth herein are no longer accurate.

 

    15

     

    

 

(d) NextGen
acknowledges that the Investor will rely on the acknowledgments, understandings, agreements, covenants, representations and warranties
of NextGen contained in this Subscription Agreement. Prior to the Closing, NextGen agrees to promptly notify the Investor if any of the
acknowledgments, understandings, agreements, representations and warranties of NextGen set forth herein are no longer accurate.

 

(e) NextGen
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 to the extent required by law or regulation.

 

(f) 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 in this Subscription Agreement shall survive the Closing until the applicable statute of limitations or in accordance
with their respective terms, if a shorter period.

 

(g) This
Subscription Agreement may not be modified, waived or terminated (other than pursuant to the terms of Section 8 above) except
by an instrument in writing, signed by each of the parties hereto. 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.

 

(h) This
Subscription Agreement (including the schedule hereto) constitutes the entire agreement, and supersedes all other prior agreements, understandings,
representations and warranties, both written and oral, among the parties, with respect to the subject matter hereof. Except as set forth
in Section 7(f), Section 10(c) and Section 10(d) 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.

 

(i) Except
as otherwise provided herein, this Subscription Agreement shall be binding upon, and inure to the benefit of the parties hereto and their
respective 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.

 

(j) 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.

 

(k) Each
party shall pay all of its own costs and expenses incurred in anticipation of, relating to and in connection with the negotiation and
execution of this Subscription Agreement and the transactions contemplated hereby, whether or not such transactions are consummated.

 

(l) The
obligations of the Investor under this Subscription Agreement are several and not joint with the obligations of any other investor under
the Other Subscription Agreements, and the Investor shall not be responsible in any way for the performance of the obligations of any
other investor under any Other Subscription Agreement. The decision of the Investor to purchase the Shares pursuant to this Subscription
Agreement has been made by the Investor independently of any other investor and independently of any information, materials, statements
opinions as to the business, affairs, operations, assets, properties, liabilities, results of operations, condition (financial or otherwise)
or prospects of NextGen, the Company or any of their respective subsidiaries which may have been made or given by any other investor
or by any agent or employee of any other investor, and neither the Investor nor any of its agents or employees shall have any liability
to any other investor relating to or arising from any such information, materials, statements or opinions. Nothing contained herein or
in any Other Subscription Agreement, and no action taken by the Investor or any other investor 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 any other investor are in any way acting in concert or as a “group” (within the meaning
of Section 13(d) of the Exchange Act) with respect to such obligations or the transactions contemplated by this Subscription Agreement
and the Other Subscription Agreements. The Investor acknowledges that no other investor has acted as agent for the Investor in connection
with making its investment hereunder and no other investor will be acting as agent of the Investor in connection with monitoring its
investment in the Shares or enforcing its rights under this Subscription Agreement.

 

    16

     

    

 

(m) This
Subscription Agreement may be executed in one or more counterparts (including by electronic mail or in .pdf) and by different parties
in separate counterparts, with the same effect as if all parties hereto had signed the same document. All counterparts so executed and
delivered shall be construed together and shall constitute one and the same agreement.

 

(n) 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.

 

(o) THE
PARTIES HERETO IRREVOCABLY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE COURT OF CHANCERY OF THE STATE OF DELAWARE (OR, TO THE EXTENT
SUCH COURT DOES NOT HAVE SUBJECT MATTER JURISDICTION, THE SUPERIOR COURT OF THE STATE OF DELAWARE, OR THE UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF DELAWARE) 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 DELAWARE 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 THIS SECTION 10(o) 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 DELAWARE, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS THAT WOULD OTHERWISE REQUIRED
THE APPLICATION OF THE LAW OF ANY OTHER STATE.

 

(p) 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 10(p).

 

    17

     

    

 

11. Non-Reliance
and Exculpation. The Investor acknowledges and agrees that it is not relying upon, and has not relied upon, any statement, representation
or warranty made by any person, firm or corporation, other than the statements, representations and warranties of NextGen expressly contained
in Section 5 of this Subscription Agreement, in making its investment or decision to invest in NextGen; provided that
the foregoing shall not apply to the representations and warranties made in the Prior Investor Subscription Agreement. The Investor acknowledges
and agrees that none of (i) any other investor pursuant to this Subscription Agreement or any Other Subscription Agreement related
to the private placement of the Shares (including such other investor’s respective affiliates or any control persons, officers,
directors, employees, partners, agents or representatives of any of the foregoing), (ii) any other party to the Transaction Agreement
(other than NextGen), or (iii) any affiliates, or any control persons, officers, directors, employees, partners, agents or representatives
of any of NextGen, the Company or any other party to the Transaction Agreement shall be liable to the Investor, or to any other investor,
pursuant to this Subscription Agreement or any Other Subscription Agreement related to the private placement of the Shares, the negotiation
hereof or thereof or the subject matter hereof or thereof, or the transactions contemplated hereby or thereby, for any action heretofore
or hereafter taken or omitted to be taken by any of them in connection with the purchase of the Shares.

 

12. Press
Releases; Publicity. All press releases, marketing materials or other public communications or disclosures relating to the transactions
contemplated hereby between NextGen and the Investor, and the method of the release for publication thereof, shall be subject to the
prior written approval of the Investor to the extent such press release or public communication or disclosure of the name of the Investor
or any of its affiliates or investment advisers; provided that NextGen shall not be required to obtain consent pursuant to this
Section 12 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 12. The restriction in this Section 12 shall
not apply to the extent the public announcement or disclosure is required by applicable securities law (including in connection with
the Registration Statement), any governmental authority or stock exchange rule; provided that in such an event, NextGen shall
consult with the Investor in advance as to its form, content and timing.

 

13. 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 NextGen, to:

 

NextGen
Acquisition Corp. II

2255 Glades Road, Suite 324A

Boca
Raton, Florida 33431

Attention: Patrick Ford

Email:
pford@nextgenacq.com

 

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

 

    18

     

    

 

Skadden,
Arps, Slate, Meagher & Flom LLP

One Manhattan West

New York, New York 10001

Attention:Howard L. Ellin

David J. Goldschmidt

June
S. Dipchand

Email: howard.ellin@skadden.com

david.goldschmidt@skadden.com

june.dipchand@skadden.com

 

and

 

Vieco
USA, Inc.

4022
East Conan Street

Long Beach, CA 90808

Attention:
Brita O’Rear

Derrick Boston

Email:
brita.orear@virginorbit.com

derrick.boston@virginorbit.com

 

and

 

Latham
& Watkins LLP

885 Third Avenue

New York, NY 10022

Attention:Justin Hamill

Rachel
Sheridan

Drew
Capurro

Email:
justin.hamill@lw.com

rachel.sheridan@lw.com

drew.capurro@lw.com

 

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

 

[SIGNATURE
PAGES FOLLOW]

 

    19

     

    

 

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 Shares are
    to be registered (if different):	Date: ________, 2021
	 	 
	Investor’s EIN:	 
	 	 
	Business Address-Street:	Mailing Address-Street (if different):
	 	 
	Attn:  	Attn:  ____________________________________
	 	 
	Telephone No.:	Telephone No.:
	 	 
	Facsimile No.:	Facsimile No.:
	 	 
	Number of Shares subscribed
    for:	 
	 	 
	Aggregate Subscription
    Amount: $	Price Per Share: $10.00

 

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

 

[Signature Page to Subscription Agreement]

  

     

     

    

 

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

 

	 	NEXTGEN ACQUISITION CORP. II
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

Date:
      ,
2021

 

[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 a (“QIB”)).

 

		☐	We
                                            are subscribing for the Shares as a fiduciary or agent for one or more investor accounts,
                                            and each owner of such accounts is a QIB.

 

		**OR**	

 

		B.	INSTITUTIONAL
                                            ACCREDITED INVESTOR STATUS

                                            (Please check the applicable subparagraphs):

 

The
Investor is an institutional “accredited investor” (within the meaning of Rule 501(a) under the Securities Act) and has checked
the below boxes for the applicable provision under which the Investor qualifies as such:

 

		☐	Investor
                                            is an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as
                                            amended, corporation, Massachusetts or similar business trust, limited liability company
                                            or partnership not formed for the specific purpose of acquiring the securities of the Issuer
                                            being offered in this offering, with total assets in excess of $5,000,000.

 

		☐	Investor
                                            is a “private business development company” as defined in Section 202(a)(22)
                                            of the Investment Advisers Act of 1940.

 

		☐	Investor
                                            is a “bank” as defined in Section 3(a)(2) of the Securities Act.

 

		☐	Investor
                                            is a “savings and loan association” or other institution as defined in Section
                                            3(a)(5)(A) of the Securities Act, whether acting in its individual or fiduciary capacity.

 

		☐	Investor
                                            is a broker or dealer registered pursuant to Section 15 of the Exchange Act.

 

		☐	Investor
                                            is an “insurance company” as defined in Section 2(a)(13) of the Securities Act.

 

		☐	Investor
                                            is an investment adviser registered pursuant to Section 203 of the Investment Advisers Act
                                            of 1940 or registered pursuant to the laws of a state.

 

		☐	Investor
                                            is an investment adviser relying on the exemption from registering with the Commission under
                                            Section 203(l) or (m) of the Investment Advisers Act of 1940.

 

		☐	Investor
                                            is an investment company registered under the Investment Company Act of 1940.

 

		☐	Investor
                                            is a “business development company” as defined in Section 2(a)(48) of the Investment
                                            Company Act of 1940.

 

		☐	Investor
                                            is a “Small Business Investment Company” licensed by the U.S. Small Business
                                            Administration under either Section 301(c) or (d) of the Small Business Investment Act of
                                            1958.

 

		☐	Investor
                                            is a “Rural Business Investment Company” as defined in Section 384A of the Consolidated
                                            Farm and Rural Development Act.

 

		☐	Investor
                                            is a plan established and maintained by a state, its political subdivisions, or any agency
                                            or instrumentality of a state or its political subdivisions, for the benefit of its employees,
                                            and such plan has total assets in excess of $5,000,000.

 

[Schedule A to Subscription Agreement]

 

     

     

    

 

		☐	Investor
                                            is an employee benefit plan within the meaning of the Employee Retirement Income Security
                                            Act of 1974 if the investment decision is made by a plan fiduciary, as defined in Section
                                            3(21) of such act, which is one of the following.

 

		☐	A
bank;

 

		☐	A
savings and loan association;

 

		☐	An
insurance company; or

 

		☐	A
registered investment adviser.

 

		☐	Investor
                                            is an employee benefit plan within the meaning of the Employee Retirement Income Security
                                            Act of 1974 with total assets in excess of $5,000,000.

 

		☐	Investor
                                            is an employee benefit plan within the meaning of the Employee Retirement Income Security
                                            Act of 1974 that is a self-directed plan with investment decisions made solely by persons
                                            that are accredited investors.

 

		☐	Investor
                                            is a trust with total assets in excess of $5,000,000, not formed for the specific purpose
                                            of acquiring the securities offered by the Issuer in this offering, whose purchase is directed
                                            by a sophisticated person as described in Rule 506(b)(2)(ii) under the Securities Act.

 

This
page should be completed by the Investor

and constitutes a part of the Subscription Agreement.

 

[Schedule A to Subscription Agreement]Exhibit
10.1

 

JOINT VENTURE AGREEMENT

 

JOINT VENTURE AGREEMENT, dated as of
September 21, 2018 (this “Agreement’),
is by and between Nexalin Technology, Inc., a Nevada corporation (“Nexalin”),
and [Wider come Limited], a company formed under the laws of [Hong Kong] (‘Wider’’,and together with Nexalin, collectively, the “parties”
and each, a “party”).

 

 

RECITALS:

 

 

 

WHEREAS, the parties desire to establish
a 50/50 joint venture for the purposes of conducting
clinical trials of Nexalin’s proprietary medical devices and ultimately managing the commercialization and distribution of the Nexalin
products in the Territories (as defined below).

 

 

NOW, THEREFORE, in consideration
of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties to this Agreement hereby agree as follows:

 

 

[Signature page to Joint
Venture Agreement]

     

     

    

 

ARTICLE 1

 

CERTAIN DEFINITIONS

 

Section 1.1. Certain Definitions:For
purposes of this Agreement, the following terms shall have the following meanings:

“A&D”
has the meaning set forth in Section 2.1.

 

 

“A&D”
means, Alzheimer’s disease, also
referred to simply as Alzheimer’s, is a chronic neurodegenerative
disease that usually starts slowly and worsens over time

 

“A&D
Distribution Agreement” means, collectively, one or more distribution agreements to be entered into between the JV and
other appointed distributors at such time that the distributor obtains all necessary Permits in any of the applicable Territories, pursuant
to which Nexalin will provide the Nexalin Products for the treatment of A&D to the JV for sale and distribution in any such applicable
Territories.

“A&D
Clinical Trials” means the clinical trials of Nexalin Products for the treatment of A&D in the Territory to be sponsored
by the JV. Now, the A&D clinical trials experimenting in China have been authorized by Nexalin and funded by Wider, and the final
results of the experiments will be the capital contribution of Wider to the JV.

 

    2 / 26 

     

    

 

 

“AD&I”
has the meaning set forth in Section 2.1.

 

 

 

“AD&I”
means, Anxiety, Depression and Insomnia

 

 

“AD&I
Distribution Agreement” means, collectively, one or more distribution agreements to be entered into between the
JV and Nexalin at such time that the JV obtains all necessary Permits in any of the applicable Territories, pursuant to which
Nexalin will provide the Nexalin Products for the treatment of AD&I to the JV for sale and distribution in any such applicable
Territories.

 

“Affiliate”
means, with respect to a specified Person, another Person that directly, or indirectly through one or more intermediaries, Controls or
is Controlled by or is under common Control with the Person specified. Notwithstanding the foregoing, for purposes of this Agreement,
(a) any Person which owns directly or indirectly 15% or more of the Equity Interests having ordinary voting power for the election of
the board of directors or equivalent governing body of a Person or 10% or more of the partnership or other ownership interests of a Person
(other than as a limited partner of such Person) shall be deemed an Affiliate of such Person, and (b) each director (or comparable manager)
of a Person shall be deemed to be an Affiliate of such Person.

    3 / 26 

     

    

“Control”
means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies
of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling”
and “Controlled’ have meanings correlative thereto.

“Distributions
Agreements” means, collectively, each A&D Distribution Agreement and each AD&I
Distribution Agreement.

 

 

“Equity
Interests” means, with respect to any Person, all of the shares of capital stock of (or other ownership, limited liability
company or other similar membership, or profit interests in) such Person.

 

“Formation Date”
means the effective date of the Shareholders’ Agreement.

 

 

“Governmental
Authority” means the government of any other nation, or of any political subdivision thereof, whether state or
local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive,
legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government.

 

 

“JV”
has the meaning set forth in Section 2.1.

    4 / 26 

     

    

 

 

“JV
Documents” means, collectively, this Agreement, the Organizational Documents of the JV, the Distribution Agreements, the
Services Agreements and any agreed executed and delivered by the JV and/or the Shareholders in connection with any of the foregoing or
this Agreement.

“Nexalin
Products” means Nexalin’s existing transcranial alternating current stimulation devises and related disposables for the
treatment of AD&I and/or A&D.

 

“Organization
Documents” means, (a) with respect to any corporation, the certificate or articles of incorporation and the
bylaws (or equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction); (b) with respect to any
limited liability company, the certificate or articles of formation or organization and operating agreement; and (c) with respect to
any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement
of formation or organization and any agreement, instrument, filing or notice with respect thereto filed in connection with its
formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if
applicable, any certificate or articles of formation or organization of such entity.

 

    5 / 26 

     

    

 

“Permit’
means, collectively, all licenses, leases, powers, permits, franchises, certificates, authorizations, approvals and clearances
issued by a Governmental Authority.

“Person”
means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental
Authority or other entity.

“Restrictive
Period” means the last day of the calendar year in which the 2nd anniversary of the Formation Date occurs.

 

 

“Shareholders”
shall mean each of Nexalin and WIDER and/or any of their respective Affiliates designated by them to be the owner of record of the Equity
Interests of the JV.

 

 

“Shareholders’
Agreement” has the meaning set forth in Section 3.3.

 

 

“Territories”
means, collectively, (i) with respect to AD&I, China, Hong Kong, Taiwan and Macau and such other countries and territories
agreed by the parties at any time, and (ii) with respect to A&D, the world. The term “Territory”
means each geographical area or nation designated as a distinct territory in the applicable Distribution Agreement and,
in the context of Permits, the geographical area for which a Governmental Authority has jurisdiction over any such Permits.

 

    6 / 26 

     

    

ARTICLE
2

JOINT VENTURE

 

Section 2.1. Scope.
Nexalin will provides a global exclusive technology license for A&D treatment in exchange for WIDER designing and funding a world-class
study in China that is approved by Nexalin. Such study shall take place at a major university and/or hospital in China and meet international
peer review standards. Nexalin will also provide the JV with a license for exclusive distribution of its technology for the treatment
AD&I in the Territory.

Section 2.2. Formation
of Joint Venture. Nexalin and WIDER shall form a Hong Kong company (the “JV”) the purpose of which will
be the marketing, sale and distribution of Nexalin’s proprietary medical devises for the treatment of (i)Anxiety, Depression and Insomnia
(“AD&I” and (ii) Alzheimer’s and Dementia (“A&D”
in the applicable Territories.Nexalin and WIDER will be the only Shareholders of the JV, with each party owning fifty percent (50%) of
the JV’s Equity Interests.

 

Section
2.3. Funding of the JV. No later than December 21, 2018, WIDER will establish
a capital plan for the JV (the “Initial Operating Budget’), which will set
out the JV’s anticipated capital needs for A&D Clinical Trials in China. After the completion of the

    7 / 26

     

    

A&D clinical trials, Nexalin
and WIDER will be responsible for contributing capital to the JV to fund operating budget. JV will establish an operating budget. After
the A&D study is completed, statistical analysis is completed and is in the form of acceptance for publication and regulatory approval,
then all future expenses will be paid by the shareholders of both parties in proportion to the shares of the JV. After the initial funding
for clinical trial for A&D in China by WIDER, WIDER and Nexalin will oversee third party fundraising efforts for JV operations as
necessary. All the parties will work together to support JV’s financing activities to the greatest extent possible.

A&D Clinical Trials
& Permits.

 

(a)         Authorized
by Nexalin, WIDER agrees to fund and execute the A&D Clinical Trials in China; it being understood and agreed that the JV will
be the clinical trial sponsor of record. JV shall be responsible for the prosecution of any and all necessary Permits for the
marketing, sale and distribution of Nexalin Products in the applicable Territories; provided, however, that Nexalin
shall reasonably cooperate with any and all such efforts including, without limitation, (i) the granting the JV a license to exploit
the Nexalin Products in connection with the prosecution of any Permits, (ii) timely responding to document and/or information
requests which would include documents from internal document control system.

 

    8 / 26

     

    

(b)         The protocol of the A&D Clinical Trials must be approved by Nexalin and WIDER, the final result should be related to the global
business promotion of Nexalin products. The amount of patients enrolled must consider the drop off rate that will ensue given nature
of the patient pool. The amount of sessions and timing of those sessions must be strictly adhered to in order to maximize success for
the enrolled group. Time of completion of the study, statistical analysis and submission for publication will be the responsibility of
WIDER. Financial and management of the study in China by WIDER are principal inducements for Nexalin entering the JV. A double or triple
blind study that includes EEG and PET-MRI will be preferred.

 

 

(c)         Based
on any invention patents obtained by A&D clinical trials, the JV has the right to register, authorize, produce, sell the intellectual
property worldwide that pertains to products established by JV and covered in this contract.

 

 

(d)         Nexalin will have a cost-free
license from JV to utilize patents created and owned by JV for the products and treatment indications not covered in this contract.

 

 

 

ARTICLE 3

OTHER AGREEMENTS

Section 3.1.
Distribution Agreements.

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(a)         Under each Distribution Agreement, Nexalin will grant the JV a license to exploit the Nexalin Products solely in connection with
the marketing, sale and distribution of the Nexalin Products in the applicable Territories. Nexalin further agrees that it will charge
the JV US$5200.00 per unit FOB factory for existing Nexalin’s products (to be adjusted annually with CPl).Electrodes will be charged at
cost plus 20% per unit.

 

 

(b)         Each
AD&I Distribution Agreement will provide that the JV would be the sole and exclusive distributor of Nexalin Products for AD&I
in the applicable Territory covered thereby; provided, however, that if the
JV fails to meet certain minimum sales thresholds in any applicable Territory following the eighteen (18) month anniversary when obtaining
Registration License of Nexalin Products from CFDA, the JV would no longer retain such exclusivity in respect of such Territory and Nexalin
(through the JV) would be permitted to develop and exploit new distributions partnerships (on an exclusive or non-exclusive basis) with
third parties in any such Territory; it being understood and agreed that the AD&I Distribution Agreement will not have any minimum
sales thresholds during the first eighteen months of the term thereof.

 

 

Section 3.2. Service Agreements.
The Board, as part of the development of the initial Annual Plan (defined below), will determine the personnel other resources required

    10 / 26

     

    

by the JV including, but limited to, distributor services,
clinical trial services, finance services (accounting, cash collections etc.) and IT services. Such resources may be provided to the
JV by the Shareholders under the one or more services agreements to be entered into by the JV and such Shareholder (“Services
Agreements”) or acquired directly by the JV, with cost implications as follows:

 

(a)         Costs
for resources directly engaged by the JV will be borne directly by the JV;

 

 

 

(b)         Costs for discrete resources seconded from a Shareholder to the JV (e.g., an Nexalin brand manager seconded to the JV) will be recharged
from the Shareholder to the JV under the Services Agreement with such Shareholder; and

 

(c)         Costs
of the Shareholders managing their interest in the JV (e.g., attending board meetings) will be borne by the Shareholders and not recharged.

 

Section 3.3. Organizational
Documents. No later than December 21, 2018, the parties shall cause all necessary Organizational Documents to be executed and
delivered by the Shareholders including, without limitation, a shareholders’ or similar agreement (the “Shareholders’
Agreement”) setting forth various matters relating to the operation and governance of the JV, in all cases,
consistent with terms set forth in this Agreement.

 

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Section 3.4. Restrictive Covenants.

 

(a)         Except as otherwise provided in this Agreement or any of the other JV Documents, Nexalin may not
sell the Nexalin Products in the Territory other than through the JV and JV may not sell the Nexalin Products outside of the Territory.

 

(b)         WIDER, either directly or indirectly through any WIDER Affiliate, may not distribute, market or
sell any other line of neurostimulators for the treatment of AD&I and/or A&D.

 

 

Section 3.5.
A&D Device. Nexalin shall have the first right to design, produce and manufacture the device for the treatment of A&D
(the “A&D Device”); provided, however, that if Nexalin chooses
not to exercise any such rights, it shall assign such rights to the JV. Notwithstanding the foregoing, if any new patented inventions
for the treatment of A&D are developed in connection with any A&D Device, the JV shall be the record owner of any such invention
described in such patent.

 

 

 

ARTICLE 4

GOVERNANCE

 

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Section 4.1.
Board of Directors.

 

(a)         The JV will be managed by a Board of Directors (the “Board”) consisting
of five (5) members. Each of Nexalin and WIDER will have the right to nominate and appoint two (2) representatives to the Board and the
fifth director shall be mutually agreed upon by the Shareholders.

 

(b)         The
Board will meet in person or via video conference at least four (4) times per year; provided that the Board may meet less frequently
until such time that the A&D Clinical Trials have been completed and the JV obtains all necessary Permits for the marketing, sale
and distribution of Nexalin Products in one or more Territories. A quorum for Board meetings will require a majority of the directors
then in office, which must include at least one (1) representative of Nexalin and WIDER. Unless otherwise provided herein, the affirmative
vote of a majority of the Board (i.e., three (3) of the five (5) directors) will be required
for all decisions, subject to Reserved Matters described below. The Board may also act by written consent, approved by a majority of
the directors.

 

(c)         The Board will be responsible
for setting and monitoring achievement of the strategic objectives of the JV and,at such time that the JV obtains all necessary Permits
for the marketing, sale and distribution of Nexalin Products in any of the Territories, will delegate implementation of those objectives
to a general manager.

 

 

    13 / 26

     

    

Section 4.2.
General Manager. At such time that the JV obtains all necessary Permits for the marketing, sale and distribution of Nexalin Products
in any of the Territories, the Board will appoint a general manager of the JV who will have responsibility for the operations of the JV,
selection of the JV’s management team, execution of the strategic/business plan and who will have authority for all matters which are
not specifically reserved for the Board.

Section 4.3.
Reserved Matters - Nexalin and WIDER Approval. Certain matters (“Reserved Matters”) will
require the approval of Nexalin and WIDER in their respective capacities as Shareholders of the JV. Reserved Matters will include the
following:

 (a)         A&D Clinical Trial protocols.

 

 

(b)         any merger, consolidation, conversion or reorganization of the JV or adoption of any plan or agreement
to do any of the foregoing;

 

 (c)         any voluntary filing for bankruptcy or receivership;

 

 (d)         the creation of any subsidiary of the JV;

 

(e)         any sale, lease, transfer, pledge or other disposition of all or substantially all of the properties
or assets of the JV, other than sales, leases, transfers, pledges or other dispositions of assets in the ordinary course of business;

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(f)         any sale, lease, transfer or license relating to any intellectual property licensed from Nexalin,
except in the ordinary course of business and as contemplated under this Agreement;

 

(g)         the lending of money by the
JV to, or the guarantee by the JV of any obligation of, any Person or the granting of any lien upon the JV’s assets;

 

 

 

(h)         any material amendment to
the Shareholders’ Agreement of the JV or any Distribution Agreement with Nexalin to the extent such amendment negatively and disproportionately
affects any party’s economic interests or governance rights,

 

(i)         any
transaction with any Affiliate of WIDER or Nexalin that is on terms less favorable than an arm’s length transaction; 

(j)         any
investment in any joint venture or similar arrangement with, or equity issued by, a third party; 

 

(k)         any issuance of equity securities (or securities convertible into or exchangeable for equity securities);
and

 

(l)         such other matters as may be mutually agreed upon by the Shareholders in the Shareholders’ Agreement.

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Section 4.4. Annual Planning.
Following the completion of the A&D Clinical Trials and/or successful prosecution of necessary Permits for the marketing, sale and
distribution of Nexalin Products in the applicable Territories, the JV shall prepare, in consultation with the shareholders, an annual
plan(an “Annual Plan”) for marketing and distribution of the Nexalin Products
in any such Territory.

 

 

ARTICLE 5

DISTRIBUTIONS

 

 

Section 5.1. Distribution
of Cash from Operations. The Board will have the authority to determine the timing and amount of any distributions of cash from operations
to be made to the Shareholders. Subject to there being available cash and reasonable required reserves, available cash from operations
will be distributed to the Shareholders on a [quarterly] basis and in accordance with their respective ownership percentages.

Section 5.2. Distributions
upon Termination and Liquidation. Upon any termination of the JV as described in the Section 7.1 below, the Board will first
distribute all intangible assets to the Shareholders who initially contributed such assets and thereafter liquidate the tangible
assets of the JV and apply and distribute the proceeds of such liquidation as follows:

(a)         First, to the payment of the debts and liabilities of the JV, including debts owed to any Shareholder;

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(b)         Second, to the setting up of such reserves as the Board may deem reasonably necessary for any contingent or unforeseen liabilities
or obligations of the JV; and

(c)         Thereafter, to the Shareholders in accordance with their respective ownership percentages.

 

 

ARTICLE 6

 

TRANSFERABILITY

 

Section 6.1. General Restriction
on Transferability. No Shareholder will be allowed to transfer its ownership interest in the JV without the prior written consent
of the other Shareholder; provided, that no such consent will be required for (x) any transfers
to any affiliate of any Shareholder (a “Permitted Transfer”) or (y) as part
of any divestiture required by any court or other regulatory authority (a “Required Divestiture”)
Notwithstanding anything herein to the contrary, in no event would Nexalin, WIDER or the JV be obligated to partner with
a proposed transferee who is wholly or partially owned, directly or indirectly, by a competitor of Nexalin or who does not pass Nexalin’s
background and anti-bribery and foreign corrupt practices act checks.

 

 

Section 6.2. Sale by a Shareholder
of Equity Interests in the JV.

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(a)         In
the event of a proposed sale of its Equity Interests in the JV by either Shareholder (the “Selling
Shareholder”) as part of a Required Divestiture (which shall not include any
Permitted Transfer), the Selling Shareholder must offer to sell its Equity lnterests in the JV (an “Offer
to Sell”) the other Shareholder (the “Remaining
Shareholder”) for a price equal to the fair market value of such interest (“FMV”), as
determined by a mutually approved third-party appraiser or valuation firm.

 

(b)         If WIDER is the Remaining Shareholder, then Nexalin must continue to provide the Nexalin Products
under the Distributions Agreements for up to 7 years.

(c)         If Nexalin is the Remaining Shareholder, then WIDER must continue to provide the services under
the Services Agreement for up to 7 years (excluding clinical trials).

 

(d)         Any third party purchaser of the Selling Shareholder’s interest will be bound by all of the terms
of the Shareholders’ Agreement in lieu of such Selling Shareholder.

 

ARTICLE 7

TERMINATION; EVENTS OF DEFAULT

 

 

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Section 7.1. Termination of JV. The JV may be terminated
as follows:

 

(a)         after
the Restrictive Period by Nexalin [if certain performance metrics are not met]; provided that any termination pursuant to this section
will only be effective upon no less than 2 years with advance written notice to WIDER;

 

(b)         by the mutual written agreement
of the Shareholders;

 

 

 

 (c)         by WIDER upon one year’s advance notice to Nexalin; or

 

 

 

(d)         upon the entry of a decree
of judicial dissolution or as otherwise required under applicable law.

 

 

 

		a)	Extension Periods. If neither Shareholder timely provides a
termination notice, the JV shall automatically renew for an additional 2 years period beginning at the end of the Restrictive Period (the
“Extension Period”) Extension Periods
shall continue every five (5) years until one Shareholder provides a termination notice.

		b)	Events of Default. The following events (and such other events
as may be mutually agreed upon by the Shareholders under any other JV Documents) will constitute an “Event
of Default”:

		( a ) 	a breach by a Shareholder of any material provision of the Shareholders’ Agreement, any Distributions
Agreement or any

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Services Agreement;

 

 

 

		( b )	any act or omission by a Shareholder that constitutes fraud, willful misconduct
or gross negligence related to the operation of the JV or the willful misapplication or misappropriation of the JV’s funds;

		(c)	the bankruptcy of a Shareholder;

		( d )	a Shareholder becoming convicted of a criminal indictment which has had or would reasonably be expected
to have, directly or indirectly, a material adverse effect on the business, condition or results of operations of such Shareholder.

 

 

Section 7.4 Rights upon Event
of Default. Upon the occurrence of an Event of Default with respect to a Shareholder (a “Defaulting Shareholder”),
the other Shareholder (the “Non-Defaulting Shareholder”) will have the right
to purchase or require that the JV purchase the ownership interest of the Defaulting Shareholder at a [to be determined] discount to
FMV.

 

 

ARTICLE 8

CONFIDENTIAL INFORMATION

 

Section 8.1 Definition. By
virtue of this Agreement and the other JV Documents, each party may have access to information that is confidential to the other party
or to the

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JV (“Confidential
Information”). Confidential Information shall include the intellectual property of a party and its technical information,
client lists, business plans, organization policies, software, in both source code and object code forms, concepts, design architectures,
specifications, processes, techniques, algorithms, know-how, source materials, training materials, maintenance information and materials,
and other information that is labeled or otherwise designated as confidential or that by its nature would reasonably be expected to be
kept confidential.

 

Section 8.2 Nondisclosure.
The parties agree, both during the term of the JV and thereafter, to hold each other’s (and the JV’s) Confidential Information in strict
confidence. The parties agree not to make each other’s Confidential Information available in any form to any third party or to use each
other’s Confidential Information for any purpose other than the implementation of this Agreement and/or in connection with such party’s
performance of its obligations and/or enjoyment of its rights under this Agreement. Each party agrees to use the same degree of care
that it uses to protect its own confidential information of a similar nature and value, but in no event less than a reasonable standard
of care, to ensure that Confidential Information is not disclosed or distributed by its employees or agents in violation of the provisions
of this Agreement. The parties represent that each has, with each of its employees who may have access to any Confidential Information,
an appropriate agreement sufficient to enable it to comply with all of the terms of this Section.

 

 

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ARTICLE 9

MISCELLANEOUS PROVISIONS

 

Section 9.1 Amendments.
The Agreement may only be amended or waived by an instrument in writing signed by the party to be charged.

 

Section 9.2
Governing Law. This Agreement, The Distribution Agreements and all other Organizational Documents of the JV shall be governed by,
and construed in accordance with, the internal laws of Hong Kong without regard to conflicts of laws principles. Disputes among the parties
with respect to the JV will be subject to the exclusive jurisdiction of Hong Kong courts.

 

Section 9.3 Statement. All
the Parties hereby declare that no one shall violate any prohibitive provisions of local law in different regions where this Agreement
is performed. If the provisions of this Agreement conflict with the laws of that region, the Parties shall promptly amend or repeal the
provisions in conflict.

 

Section 9.4 Notices.
All written communications hereunder shall in writing and shall be mailed, emailed or delivered to the respective addresses
specified on the signature pages hereto, or as to each party, to such other address as shall be designated by such party in a
written notice to the other party. Written communications shall be effective upon receipt unless such communication is mailed in
which case it shall be effective three Business Days after deposit in first class mail.

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Section 9.5
Costs and Expenses. All costs and expenses (including legal expenses) incurred by either party in connection with the formation
of the JV and/or the negotiation of this Agreement or any of the other JV Documents will be borne by such party.

 

Section 9.6
Rights of Access. Each Shareholder will have the right to reasonably inspect the books and records of the JV.

 

Section 9.7
JV Documents. All JV Documents shall
be drafted in both English and Chinese. The controlling language of this document is English.

 

Section 9.8 Severability of Provisions.
If one or more of the provisions of this Agreement shall be for any reason whatever held invalid, such provisions shall be deemed severable
from the remaining covenants and provisions of this Agreement, and shall in no way affect the validity or enforceability of such remaining
provisions, the rights of any parties hereto. To the extent permitted by law, the parties hereto waive any provision of law which renders
any provision of this Agreement prohibited or unenforceable in any respect.

 

Section 9.9
Binding Effect. All provisions of this Agreement shall be binding upon and inure to the benefit of the respective successors and
assigns of the parties hereto.

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Section 9.10
Assignment. Neither this Agreement nor any of the rights, interest or obligations hereunder may be assigned by any party
hereto without the prior written consent of the other party, which shall not be unreasonably withheld or delayed. Notwithstanding the
foregoing, (i) WIDER may assign this Agreement in whole to an Affiliate of WIDER or to a successor of WIDER in the event of a sale of
its business, a merger, an acquisition or another change in control of WIDER, provided that WIDER shall not assign this Agreement without
the prior written consent of Nexalin to any entity that, in Nexalin’s reasonable judgment, is not financially or otherwise capable of
performing WIDER’ obligations hereunder. and (ii) Based on reciprocity principle , after obtain the written consent of WIDER, Nexalin
may assign this Agreement in whole to an Affiliate of Nexalin or to a successor of Nexalin in the event of a sale of its business, a
merger, an acquisition or another change in control of Nexalin. This Agreement shall bind and inure to the benefit of the parties and
their respective successors and permitted assigns.

 

Section 9.11
Counterparts. This Agreement may be executed in any number of counterparts, each of which so executed shall be deemed to be an
original, but all such counterparts shall together constitute but one and the same instrument. Each of the parties hereto respectively
agrees that faxed or electronically transmitted copies of the signature pages of this Agreement, whether sent to any other party hereto
or to such other party’s respective counsel, shall be deemed definitively executed and delivered, and with the same force and effect as
if manually signed and delivered, and for all

    24 / 26

     

    

purposes whatsoever.

 

 

[signature page follows]

 

 

IN WITNESS
WHEREOF, Nexalin and WIDER have caused this Agreement to be duly executed by their respective officers thereunto duly authorized as of
the date and year first above written.

 

 

WIDER COM LIMITED

 

 

	By:	 	
	Name:	 	 
	Title:	 	 

Address for Notices:

 

WIDER COM LIMITED

FLAT/RM E BLK 1 8/F KWUM TONG
INDUSTRIAL

CENTRE 472-484 KWUN TONG ROAD

KWUN TONG

Attn:ZHU YUN President
and CEO

Tel: +86 17710536623

    25 / 26

     

    

Email: patrick-777@vip.163.com

 

 

 

NEXALIN
TECHNOLOGY, INC.

 

 

	By:	 	
	Name:	 	 
	Title:	 	 

Address for Notices:

 

Nexalin Technology, Inc.

1776 Yorktown, Suite 550

Houston, TX 77056

Attn: Mark White, President
and CEO

Email: Mark@nexalin-usa.com

Tel.:
(281) 830-890 Y6

    26 / 26

     

    

 

Supplementary agreement for the
JOINT VENTURE AGREEMENT

 

 

 

In view of the joint venture agreement
between NEXALIN and WIDER on 2018-9-21, the two parties agreed to supplement the contents of the original agreement :

 

Article 1 certain definitions

 

 

 

		1.1	Pain is an unpleasant feeling and emotional experience
caused by tissue damage or potential damage
	 		 
	 	

 

		1.2	“PM” has the meaning of pain management.
	 	 	 
	 	 

 

1.3
“PM Distribution Agreement” means, collectively,
one or more distribution agreements to be entered into between the JV and other appointed distributors at such time that the distributor
obtains all necessary Permits in any of the applicable Territories.

1.4
“PM Clinical Trials” means the clinical trials
of Nexalin Products for the treatment of PM in the Territory to be sponsored by the JV.

     

     

    

 

Article 2 joint venture

 

 

2.1 Within days of JV signing this
agreement and JV has already opened a Bank A/C, Wider is to inject a capital of US$600,000.00 into the JV by depositing into the JV Bank
A/C. The funding is for the PM clinical trials in China. The protocol of the clinical trials must be approved by Nexalin and the JV. Such
study should take place at a major university and/or hospital in China and meet international peer review standards. The funding is also
to be used for the application to the NMPA for license to market, sales and distribution of the PM products in the territory.

 

2.2 
In consideration of this funding, Nexalin will grant the JV the exclusive distribution rights for
the PM products in the territory.

 

 

2.3  
Nexalin will support the JV in the registration of the PM products to NMPA with timely response
on information, permits and documents as requested.

 

 

2.4 
Nexalin will grant Wider a global exclusive technology license(except in the USA) to manufacture
the PM products and sell exclusively to Nexalin and the JV. Wider has no rights at any time under any circumstances to sell the PM products
for the treatment of PM to anyone else except Nexalin and JV for the sale and distribution in any such applicable territories. Wider is
to add 10% above factory cost before selling to Nexalin and JV. All purchase orders from Nexalin and JV of the PM products should be issued
to

     

     

    

 

Wider for
processing. Nexalin will also have to manufacture PM device in USA manufacturer that is registered with FDA to sustain all necessary regulatory
and compliance standards in USA.

  

 

2.5 
Nexalin will provide Wider with all necessary information for the manufacturing of the PM products,
including but not limited to the Engineering design, specifications, drawings, 8.0.M, testing protocols, documents and final manufacturing
sample.

 

2.6  
Any new patented inventions for the treatment of PM that are developed in connection with any PM
clinical trials in China, the JV shall be the record owner of any such inventions described in such patent. Based on any invention patents
obtained by PM clinical trials, the JV has the right to register, authorize, produce, sell the intellectual property worldwide that pertains
to products established by JV and covered in this contract.

 

2.7 
Except as otherwise provided in this Agreement or any of the other JV Documents, Nexalin may not
sell the PM Products in any Territory other than through the JV. It is understood that Nexalin has sold the Nexalin device in the USA
and under the CE Mark in Europe for pain. Nexalin may continue to sell the Nexalin device in these territories

     

     

    

directly from Nexalin Technology.

 

 

2.8 
Within 30 days after Wider injected a capital of US$600,000.00 into the JV bank account,
Nexalin is to issue 5% of its company non diluted Common Stock to Wider’s shareholders as specified by Wider.

  

 

Article 3 MISCELLANEOUS
PROVISIONS

 

 

3.1
After the entry into force of this agreement, it becomes an integral part of the original contract and
has the same legal effect as the original contract.

 

 

3.2
Counterpart Execution. This Agreement may be executed in multiple counterparts and by facsimile and/or
by e-mail, and all executed counterparts together shall constitute the original instrument.

 

 

 

IN WITNESS
WHEREOF, the Parties have executed this Agreement on the date(s) as set forth below:

 

     

     

    

 

	NEXALIN	 	 	WIDER	 
	 	 	 	 	 
	 

       

       

      Signed:
	 	Signed:	 
	 	 	 	 	 
	Print name:	 	 	Print name:	 
	 	 	 	 	 
	Print
title:	 	 	Print
title:	 
	 	 	 	 	 
	Date
(m/d/y):	 	 	Date
(m/d/y):

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