Document:

Exhibit 10.3

 

REGISTRATION
RIGHTS AGREEMENT

 

THIS REGISTRATION RIGHTS
AGREEMENT (this “Agreement”), dated as
of December 10, 2020, is made and entered into by and among:

 

(i) Innoviz
Technologies Ltd., a company organized under the laws of Israel (the “Company”);

 

(ii) the
investors designated on Schedule A hereto as Other Equityholders that will receive Ordinary Shares (as defined below) pursuant
to the transactions contemplated by the Business Combination Agreement (as defined below) (the “Other Equityholders”);

 

(iii) the
equityholders of Collective Growth Corporation, a Delaware corporation (the “SPAC”), and designated on
Schedule B as SPAC Holders that will receive Ordinary Shares (as defined below) pursuant to the transactions contemplated
by the Business Combination Agreement (as defined below) (the “SPAC Holders”); and

 

(iv) the
equityholders of Innoviz designated on Schedule C hereto as Innoviz Equityholders (collectively, the “Innoviz
Equityholders” and, together with the SPAC Holders and Other Equityholders and any person or entity who hereafter
becomes a party to this Agreement pursuant to Section 5.2 of this Agreement, a “Holder”
and collectively the “Holders”).

 

RECITALS

 

WHEREAS, pursuant
to that certain Business Combination Agreement, dated as of December 10, 2020 (as it may be amended, supplemented, restated or
otherwise modified from time to time, the “Business Combination Agreement”), by and among the Company,
SPAC and Hatzata Merger Sub, Inc., a Delaware corporation and a direct, wholly owned subsidiary of the Company (“Merger
Sub”), Merger Sub will merge with and into SPAC, with SPAC continuing as the surviving entity and a wholly-owned
subsidiary of the Company (the “Merger”); and

 

WHEREAS, in
connection with the consummation of the transactions described above (the “Transactions”), the Company
and the Holders desire to enter into this Agreement, pursuant to which the Company shall grant the Holders certain registration
rights with respect to the Registrable Securities (as defined below) on the terms and conditions set forth in this Agreement.

 

NOW, THEREFORE,
in consideration of the representations, covenants and agreements contained herein, and certain other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as
follows:

 

Article
I

DEFINITIONS

 

1.1 Definitions.
The terms defined in this Article I shall, for all purposes of this Agreement, have the respective meanings set forth below:

 

“Adverse
Disclosure” shall mean any public disclosure of material non-public information, which disclosure, in the
good faith judgment of the Chief Executive Officer of the Company or the Board, after consultation with counsel to the Company,
(i) would be required to be made in any Registration Statement or Prospectus in order for the applicable Registration Statement
or Prospectus not to contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
contained therein (in the case of any prospectus and any preliminary prospectus, in the light of the circumstances under which
they were made) not misleading, (ii) would not be required to be made at such time if the Registration Statement were not
being filed, declared effective or used, as the case may be, and (iii) the Company has a bona fide business purpose
for not making such information public.

 

     

     

    

 

“Action”
means any claim, action, suit, audit, examination, assessment, arbitration, mediation or inquiry, or any proceeding or investigation,
by or before any Governmental Authority.

 

“Agreement”
shall have the meaning given in the Preamble hereto.

 

“Board”
means the board of directors of the Company.

 

“Block
Trade” shall have the meaning given in Section 2.4.1.

 

“Business
Combination Agreement” shall have the meaning given in the Recitals hereto.

 

“Closing”
shall have the meaning given in the Business Combination Agreement.

 

“Closing
Date” shall have the meaning given in the Business Combination Agreement.

 

“Commission”
shall mean the Securities and Exchange Commission.

 

“Company”
shall have the meaning given in the Recitals hereto and includes the Company’s successors by recapitalization, merger, consolidation,
spin-off, reorganization or similar transaction.

 

“Demanding
Holder” shall have the meaning given in Section 2.1.4.

 

“Exchange
Act” shall mean the Securities Exchange Act of 1934, as it may be amended from time to time.

 

“FINRA”
shall mean the Financial Industry Regulatory Authority Inc.

 

“Form
F-1 Shelf” shall have the meaning given in Section 2.1.1.

 

“Form
F-3 Shelf” shall have the meaning given in Section 2.1.1.

 

“Governmental
Authority” means any federal, state, provincial, municipal, local or foreign government, governmental authority,
regulatory or administrative agency (which for the purposes of this Agreement shall include FINRA and the Commission), governmental
commission, department, board, bureau, agency or instrumentality, court or tribunal.

 

“Governmental
Order” means any order, judgment, injunction, decree, writ, stipulation, determination or award, in each case, entered
by or with any Governmental Authority.

 

“Holder
Information” shall have the meaning given in Section 4.1.2.

 

“Holders”
shall have the meaning given in the Preamble hereto, for so long as such person or entity holds any Registrable Securities.

 

“Innoviz
Equityholders” shall have the meaning given in the Preamble hereto.

 

“Law”
means any statute, law, ordinance, rule, regulation or Governmental Order, in each case, of any Governmental Authority.

 

    2

     

    

 

“Lockup
Agreement” shall mean the Confidentiality and Lockup Agreement, dated as of December 10, 2020, by and among the Company
and the other parties thereto, as the same may be amended, restated, amended and restated, supplemented or otherwise modified from
time to time.

 

“Lock-Up
Period” shall have the meaning given in the Lockup Agreement.

 

“Maximum
Number of Securities” shall have the meaning given in Section 2.1.5.

 

“Merger”
shall have the meaning given in the Recitals hereto.

 

“Minimum
Takedown Threshold” shall have the meaning given in Section 2.1.4.

 

“Misstatement”
shall mean an untrue statement of a material fact or an omission to state a material fact required to be stated in a Registration
Statement or Prospectus or necessary to make the statements in a Registration Statement or Prospectus, (in the case of a Prospectus,
in the light of the circumstances under which they were made) not misleading.

 

“Ordinary
Shares” shall mean the ordinary shares of the Company, no par value.

 

“Permitted
Transferees” shall mean any person or entity to whom a Holder of Registrable Securities is permitted to transfer
such Registrable Securities prior to the expiration of the Lockup Period pursuant to the Lockup Agreement.

 

“Piggyback
Registration” shall have the meaning given in Section 2.2.1.

 

“Prospectus”
shall mean the prospectus included in any Registration Statement, as supplemented by any and all prospectus supplements and as
amended by any and all post-effective amendments and including all material incorporated by reference in such prospectus.

 

“Registrable
Security” shall mean (a) any outstanding Ordinary Shares held by a Holder immediately following the Closing
(including Ordinary Shares distributable pursuant to the Business Combination Agreement), (b) any Ordinary Shares that may be acquired
by Holders upon the exercise of a warrant or other right to acquire Ordinary Shares held by a Holder immediately following the
Closing, (c) any Ordinary Shares or warrants to purchase Ordinary Shares (including any Ordinary Shares issued or issuable upon
the exercise of any such warrant) of the Company otherwise acquired or owned by a Holder following the date hereof to the extent
that such securities are “restricted securities” (as defined in Rule 144) or are otherwise held by an “affiliate”
(as defined in Rule 144) of the Company and for so long as the Holder may be deemed to be an Underwriter pursuant to Rule 145(c),
and (d) any other equity security of the Company or any of its subsidiaries issued or issuable with respect to any securities
referenced in clause (a), (b) or (c) above by way of a stock dividend or stock split or in connection with a recapitalization,
merger, consolidation, spin-off, reorganization or similar transaction; provided, however, that, as to any particular
Registrable Security, such securities shall cease to be Registrable Securities upon the earliest to occur of: (A) a Registration
Statement with respect to the sale of such securities shall have become effective under the Securities Act and such securities
shall have been sold, transferred, disposed of or exchanged in accordance with such Registration Statement by the applicable Holder;
(B) such securities shall have been otherwise transferred, new certificates for such securities not bearing a legend restricting
further transfer shall have been delivered by the Company and subsequent public distribution of such securities shall not require
registration under the Securities Act; (C) such securities shall have ceased to be outstanding; (D) such securities may
be sold without registration pursuant to Rule 144 or any successor rule promulgated under the Securities Act (but with no volume
or other restrictions or limitations including as to manner or timing of sale); and (E) such securities have been sold to,
or through, a broker, dealer or underwriter in a public distribution or other public securities transaction.

 

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“Registration”
shall mean a registration, including any related Shelf Takedown, effected by preparing and filing a registration statement, prospectus
or similar document in compliance with the requirements of the Securities Act, and the applicable rules and regulations promulgated
thereunder, and such registration statement becoming effective.

 

“Registration
Expenses” shall mean the expenses of a Registration, including, without limitation, the following:

 

(A) all
registration and filing fees (including fees with respect to filings required to be made with the Financial Industry Regulatory
Authority, Inc.) and fees of any national securities exchange on which the Ordinary Shares are then listed;

 

(B) fees
and expenses of compliance with securities or blue sky laws (including reasonable fees and disbursements of outside counsel for
the Underwriters in connection with blue sky qualifications of Registrable Securities);

 

(C) printing,
messenger, telephone and delivery expenses;

 

(D) reasonable
fees and disbursements of counsel for the Company;

 

(E) reasonable
fees and disbursements of all independent registered public accountants of the Company incurred specifically in connection with
such Registration; and

 

(F) reasonable
fees and expenses of one legal counsel selected by the majority-in-interest of the Demanding Holders in an Underwritten Offering
(not to exceed $35,000 without the consent of the Company).

 

“Registration
Statement” shall mean any registration statement that covers Registrable Securities pursuant to the provisions
of this Agreement, including the Prospectus included in such registration statement, amendments (including post-effective amendments)
and supplements to such registration statement, and all exhibits to and all material incorporated by reference in such registration
statement.

 

“Requesting
Holders” shall have the meaning given in Section 2.1.5.

 

“Securities
Act” shall mean the Securities Act of 1933, as amended from time to time.

 

“Shelf”
shall mean the Form F-1 Shelf, the Form F-3 Shelf or any Subsequent Shelf Registration, as the case may be.

 

“Shelf
Registration” shall mean a registration of securities pursuant to a registration statement filed with the Commission
in accordance with and pursuant to Rule 415 promulgated under the Securities Act (or any successor rule then in effect).

 

“Shelf
Takedown” shall mean an Underwritten Shelf Takedown or any proposed transfer or sale using a Registration Statement,
including a Piggyback Registration.

 

“SPAC
Holders” shall have the meaning given in the Preamble.

 

“Subsequent
Shelf Registration” shall have the meaning given in Section 2.1.2.

 

    4

     

    

 

“Transactions”
shall have the meaning given in the Recitals hereto.

 

“Transfer”
shall mean the (a) sale of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase
or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position
or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Exchange Act with
respect to, any security, (b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the
economic consequences of ownership of any security, whether any such transaction is to be settled by delivery of such securities,
in cash or otherwise, or (c) public announcement of any intention to effect any transaction specified in clause (a) or (b).

 

“Underwriter”
shall mean a securities dealer who purchases any Registrable Securities as principal and not as part of such dealer’s market-making
activities.

 

“Underwritten
Offering” shall mean a Registration in which securities of the Company are sold to an Underwriter in a firm
commitment underwriting for distribution to the public.

 

“Underwritten
Shelf Takedown” shall have the meaning given in Section 2.1.4.

 

“Withdrawal
Notice” shall have the meaning given in Section 2.1.6.

 

Article
II

REGISTRATIONS AND OFFERINGS

 

2.1 Shelf
Registration.

 

2.1.1 Filing.
The Company shall file within sixty (60) days after the Closing Date, and use commercially reasonable efforts to cause to be declared
effective as soon as practicable thereafter, a Registration Statement for a Shelf Registration on Form F-1 (the “Form
F-1 Shelf”) or, if the Company is eligible to use a Registration Statement on Form F-3, a Shelf Registration on Form
F-3 (the “Form F-3 Shelf”), in each case, covering the resale of all the Registrable Securities (determined
as of two business days prior to such filing) on a delayed or continuous basis. Such Shelf shall provide for the resale of the
Registrable Securities included therein pursuant to any method or combination of methods legally available to, and requested by,
any Holder named therein. The Company shall maintain a Shelf in accordance with the terms hereof, and shall prepare and file with
the SEC such amendments, including post-effective amendments, and supplements as may be necessary to keep a Shelf continuously
effective, available for use and in compliance with the provisions of the Securities Act until such time as there are no longer
any Registrable Securities. In the event the Company files a Form F-1 Shelf, the Company shall use its commercially reasonable
efforts to convert the Form F-1 Shelf (and any Subsequent Shelf Registration) to a Form F-3 Shelf as soon as practicable after
the Company is eligible to use Form F-3.

 

2.1.2 Subsequent
Shelf Registration. If any Shelf ceases to be effective under the Securities Act for any reason at any time while Registrable
Securities are still outstanding, the Company shall, subject to Section 3.4, use its commercially reasonable efforts to
as promptly as is reasonably practicable cause such Shelf to again become effective under the Securities Act (including obtaining
the prompt withdrawal of any order suspending the effectiveness of such Shelf), and shall use its commercially reasonable efforts
to as promptly as is reasonably practicable amend such Shelf in a manner reasonably expected to result in the withdrawal of any
order suspending the effectiveness of such Shelf or file an additional registration statement as a Shelf Registration (a “Subsequent
Shelf Registration”) registering the resale of all Registrable Securities (determined as of two business days prior
to such filing), and pursuant to any method or combination of methods legally available to, and requested by, any Holder named
therein. If a Subsequent Shelf Registration is filed, the Company shall use its commercially reasonable efforts to (i) cause such
Subsequent Shelf Registration to become effective under the Securities Act as promptly as is reasonably practicable after the filing
thereof (it being agreed that the Subsequent Shelf Registration shall be an automatic shelf registration statement (as defined
in Rule 405 promulgated under the Securities Act) if the Company is a well-known seasoned issuer (as defined in Rule 405 promulgated
under the Securities Act) at the most recent applicable eligibility determination date) and (ii) keep such Subsequent Shelf
Registration continuously effective, available for use and in compliance with the provisions of the Securities Act until such time
as there are no longer any Registrable Securities. Any such Subsequent Shelf Registration shall be on Form F-3 to the extent that
the Company is eligible to use such form. Otherwise, such Subsequent Shelf Registration shall be on another appropriate form.

 

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2.1.3 Additional
Registerable Securities. In the event that any Holder holds Registrable Securities that are not registered for resale on a
delayed or continuous basis, the Company, upon request of a Innoviz Equityholder, a SPAC Holder or an Other Equityholder that holds
at least five (5.0%) percent of the Registrable Securities, shall promptly use its commercially reasonable efforts to cause the
resale of such Registrable Securities to be covered by either, at the Company’s option, the Shelf (including by means of
a post-effective amendment) or a Subsequent Shelf Registration and cause the same to become effective as soon as practicable after
such filing and such Shelf or Subsequent Shelf Registration shall be subject to the terms hereof; provided, however,
that the Company shall only be required to cause such Registrable Securities to be so covered twice per calendar year for the Innoviz
Equityholders, the SPAC Holders, and the Other Equityholders, respectively.

 

2.1.4 Requests
for Underwritten Shelf Takedowns. At any time and from time to time when an effective Shelf is on file with the Commission,
any Innoviz Equityholder, SPAC Holder, or Other Equityholder (any of the Innoviz Equityholders, the SPAC Holders, or the Other
Equityholders being, in such case, a “Demanding Holder”) may request to sell all or any portion of its
Registrable Securities in an Underwritten Offering or other coordinated offering that is registered pursuant to the Shelf (each,
an “Underwritten Shelf Takedown”); provided that the Company shall only be obligated to effect
an Underwritten Shelf Takedown if such offering shall include Registrable Securities proposed to be sold by the Demanding Holder
with a total offering price reasonably expected to exceed, in the aggregate, $75 million (the “Minimum Takedown Threshold”).
All requests for Underwritten Shelf Takedowns shall be made by giving written notice to the Company, which shall specify the approximate
number of Registrable Securities proposed to be sold in the Underwritten Shelf Takedown. Subject to Section 2.4.4, the Company
shall have the right to select the Underwriters for such offering (which shall consist of one or more reputable nationally recognized
investment banks), subject to the initial Demanding Holder’s prior approval (which shall not be unreasonably withheld, conditioned
or delayed). The Innoviz Equityholders, the SPAC Holders, and the Other Equityholders may each demand not more than two (2) Underwritten
Shelf Takedowns pursuant to this Section 2.1.4 in any 12-month period. Notwithstanding anything to the contrary in this Agreement,
the Company may effect any Underwritten Offering pursuant to any then effective Registration Statement, including a Form F-3, that
is then available for such offering.

 

2.1.5 Reduction
of Underwritten Offering. If the managing Underwriter or Underwriters in an Underwritten Shelf Takedown, in good faith, advises
the Company, the Demanding Holders and the Holders requesting piggy back rights pursuant to this Agreement with respect to such
Underwritten Shelf Takedown (the “Requesting Holders”) (if any) in writing that the dollar amount or
number of Registrable Securities that the Demanding Holders and the Requesting Holders (if any) desire to sell, taken together
with all other Ordinary Shares or other equity securities that the Company desires to sell and all Ordinary Shares or other equity
securities, if any, that have been requested to be sold in such Underwritten Offering pursuant to separate written contractual
piggy-back registration rights held by any other shareholders, exceeds the maximum dollar amount or maximum number of equity securities
that can be sold in the Underwritten Offering without adversely affecting the proposed offering price, the timing, the distribution
method, or the probability of success of such offering (such maximum dollar amount or maximum number of such securities, as applicable,
the “Maximum Number of Securities”),
then the Company shall include in such Underwritten Offering, before including any Ordinary Shares or other equity securities proposed
to be sold by Company or by other holders of Ordinary Shares or other equity securities, the Registrable Securities of the Demanding
Holders and the Requesting Holders (if any) (pro rata based on the respective number of Registrable Securities that each Demanding
Holder and Requesting Holder (if any) has requested be included in such Underwritten Shelf Takedown and the aggregate number of
Registrable Securities that the Demanding Holders and Requesting Holders have requested be included in such Underwritten Shelf
Takedown) that can be sold without exceeding the Maximum Number of Securities. To facilitate the allocation of Registrable Securities
in accordance with the above provisions, the Company or the Underwriters may round the number of shares allocated to any Holder
to the nearest 100 shares. The Company shall not be required to include any Registrable Securities in such Underwritten Shelf Takedown
unless the Holders accept the terms of the underwriting as agreed upon between the Company and its Underwriters.

 

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2.1.6 Withdrawal.
Prior to the filing of the applicable “red herring” prospectus or prospectus supplement used for marketing such Underwritten
Shelf Takedown, a majority-in-interest of the Demanding Holders initiating an Underwritten Shelf Takedown shall have the right
to withdraw from such Underwritten Shelf Takedown for any or no reason whatsoever upon written notification (a “Withdrawal
Notice”) to the Company and the Underwriter or Underwriters (if any) of their intention to withdraw from such Shelf
Takedown; provided that any Innoviz Equityholder, SPAC Holder, or Other Equityholder may elect to have the Company continue
an Underwritten Shelf Takedown if the Minimum Takedown Threshold would still be satisfied by the Registrable Securities proposed
to be sold in the Underwritten Shelf Takedown by the Innoviz Equityholders, the SPAC Holders, or the Other Equityholders or any
of their respective Permitted Transferees, as applicable. If withdrawn, a demand for an Underwritten Shelf Takedown shall constitute
a demand for an Underwritten Shelf Takedown for purposes of Section 2.1.4, unless either (i) the Demanding Holder has
not previously withdrawn any Underwritten Shelf Takedown or (ii) the Holder reimburses the Company for all Registration Expenses
with respect to such Underwritten Shelf Takedown; provided that, if a Innoviz Equityholder, a SPAC Holder, or an Other Equityholder
elects to continue an Underwritten Shelf Takedown pursuant to the proviso in the immediately preceding sentence, such Underwritten
Shelf Takedown shall instead count as an Underwritten Shelf Takedown demanded by the Innoviz Equityholders, the SPAC Holders, or
the Other Equityholders, as applicable, for purposes of Section 2.1.4. Following the receipt of any Withdrawal Notice, the
Company shall promptly forward such Withdrawal Notice to any other Holders that had elected to participate in such Shelf Takedown.
Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred
in connection with a Shelf Takedown prior to its withdrawal under this Section 2.1.6, other than if a Demanding Holder elects
to pay such Registration Expenses pursuant to clause (ii) of the second sentence of this Section 2.1.6.

 

2.2 Piggyback
Registration.

 

2.2.1 Piggyback
Rights. Subject to Section 2.4.3, if the Company or any Holder proposes to conduct a registered offering of, or if the
Company proposes to file a Registration Statement under the Securities Act with respect to the Registration of, equity securities,
or securities or other obligations exercisable or exchangeable for, or convertible into equity securities, for its own account
or for the account of shareholders of the Company (or by the Company and by the shareholders of the Company including, without
limitation, an Underwritten Shelf Takedown pursuant to Section 2.1 hereof), other than a Registration Statement (or any
registered offering with respect thereto) (i) filed in connection with any employee stock option or other benefit plan, (ii) pursuant
to a Registration Statement on Form F-4 (or similar form that relates to a transaction subject to Rule 145 under the Securities
Act or any successor rule thereto), (iii) for an offering of debt that is convertible into equity securities of the Company
or, (iv) for a dividend reinvestment plan or (v) for a rights offering, then the Company shall give written notice of such
proposed offering to all of the Holders of Registrable Securities as soon as practicable but not less than ten (10) days before
the anticipated filing date of such Registration Statement or, in the case of an Underwritten Offering pursuant to a Shelf Registration,
the applicable “red herring” prospectus or prospectus supplement used for marketing such offering, which notice shall
(A) describe the amount and type of securities to be included in such offering, the intended method(s) of distribution, and
the name of the proposed managing Underwriter or Underwriters, if any, in such offering, and (B) offer to all of the Holders
of Registrable Securities the opportunity to include in such registered offering such number of Registrable Securities as such
Holders may request in writing within five (5) days after receipt of such written notice (such registered offering, a “Piggyback
Registration”). Subject to Section 2.2.2, the Company shall, in good faith, cause such Registrable
Securities to be included in such Piggyback Registration and, if applicable, shall use its commercially reasonable efforts to cause
the managing Underwriter or Underwriters of such Piggyback Registration to permit the Registrable Securities requested by the Holders
pursuant to this Section 2.2.1 to be included therein on the same terms and conditions as any similar securities of the
Company included in such registered offering and to permit the sale or other disposition of such Registrable Securities in accordance
with the intended method(s) of distribution thereof. The inclusion of any Holder’s Registrable Securities in a Piggyback
Registration shall be subject to such Holder’s agreement to enter into an underwriting agreement in customary form with the
Underwriter(s) selected for such Underwritten Offering.

 

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2.2.2 Reduction
of Piggyback Registration. If the managing Underwriter or Underwriters in an Underwritten Offering that is to be a Piggyback
Registration, in good faith, advises the Company and the Holders of Registrable Securities participating in the Piggyback Registration
in writing that the dollar amount or number of Ordinary Shares or other equity securities that the Company desires to sell, taken
together with (i) the Ordinary Shares or other equity securities, if any, as to which Registration or a registered offering has
been demanded pursuant to separate written contractual arrangements with persons or entities other than the Holders of Registrable
Securities hereunder, (ii) the Registrable Securities as to which registration has been requested pursuant to Section 2.2
hereof, and (iii) the Ordinary Shares or other equity securities, if any, as to which Registration or a registered offering has
been requested pursuant to separate written contractual piggy-back registration rights of other shareholders of the Company, exceeds
the Maximum Number of Securities, then:

 

(a) If
the Registration or registered offering is undertaken for the Company’s account, the Company shall include in any such Registration
or registered offering (A) first, the Ordinary Shares or other equity securities that the Company desires to sell, which can
be sold without exceeding the Maximum Number of Securities; (B) second, to the extent that the Maximum Number of Securities has
not been reached under the foregoing clause (A), the Registrable Securities of Holders exercising their rights to register their
Registrable Securities pursuant to Section 2.2.1, pro rata, based on the respective number of Registrable Securities
that each Holder has requested be included in such Underwritten Offering and the aggregate number of Registrable Securities that
the Holders have requested to be included in such Underwritten Offering, which can be sold without exceeding the Maximum Number
of Securities; and (C) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses
(A) and (B), the Ordinary Shares or other equity securities, if any, as to which Registration or a registered offering has been
requested pursuant to written contractual piggy-back registration rights of other shareholders of the Company, which can be sold
without exceeding the Maximum Number of Securities;

 

(b) If
the Registration or registered offering is pursuant to a request by persons or entities other than the Holders of Registrable Securities,
then the Company shall include in any such Registration or registered offering (A) first, the Ordinary Shares or other equity securities,
if any, of such requesting persons or entities, other than the Holders of Registrable Securities, which can be sold without exceeding
the Maximum Number of Securities; (B) second, to the extent that the Maximum Number of Securities has not been reached under the
foregoing clause (A), the Registrable Securities of Holders exercising their rights to register their Registrable Securities pursuant
to Section 2.2.1, pro rata, based on the respective number of Registrable Securities that each Holder has requested
be included in such Underwritten Offering and the aggregate number of Registrable Securities that the Holders have requested to
be included in such Underwritten Offering, which can be sold without exceeding the Maximum Number of Securities; (C) third, to
the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A) and (B), the Ordinary Shares
or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum Number of Securities;
and (D) fourth, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A), (B) and
(C), the Ordinary Shares or other equity securities for the account of other persons or entities that the Company is obligated
to register pursuant to separate written contractual arrangements with such persons or entities, which can be sold without exceeding
the Maximum Number of Securities; and

 

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(c) If
the Registration or registered offering is pursuant to a request by Holder(s) of Registrable Securities pursuant to Section
2.1 hereof, then the Company shall include in any such Registration or registered offering securities pursuant to Section
2.1.5.

 

2.2.3 Piggyback
Registration Withdrawal. Any Holder of Registrable Securities (other than a Demanding Holder, whose right to withdrawal from
an Underwritten Shelf Takedown, and related obligations, shall be governed by Section 2.1.6) shall have the right to withdraw
from a Piggyback Registration for any or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters
(if any) of his, her or its intention to withdraw from such Piggyback Registration prior to the effectiveness of the Registration
Statement filed with the Commission with respect to such Piggyback Registration or, in the case of a Piggyback Registration pursuant
to a Shelf Registration, the filing of the applicable “red herring” prospectus or prospectus supplement with respect
to such Piggyback Registration used for marketing such transaction. The Company (whether on its own good faith determination or
as the result of a request for withdrawal by persons pursuant to separate written contractual obligations) may withdraw a Registration
Statement filed with the Commission in connection with a Piggyback Registration (which, in no circumstance, shall include the Shelf)
at any time prior to the effectiveness of such Registration Statement. Notwithstanding anything to the contrary in this Agreement
(other than Section 2.1.6), the Company shall be responsible for the Registration Expenses incurred in connection with the
Piggyback Registration prior to its withdrawal under this Section 2.2.3.

 

2.2.4 Unlimited
Piggyback Registration Rights. For purposes of clarity, subject to Section 2.1.6, any Piggyback Registration effected
pursuant to Section 2.2 hereof shall not be counted as a demand for an Underwritten Shelf Takedown under Section 2.1.4
hereof.

 

2.3 Market
Stand-off. In connection with any Underwritten Offering of equity securities of the Company (other than a Block Trade), each
Holder given an opportunity to participate in the Underwritten Offering pursuant to the terms of this Agreement agrees that it
shall not Transfer any Ordinary Shares or other equity securities of the Company (other than those included in such offering pursuant
to this Agreement), without the prior written consent of the Company, during the 90-day period beginning on the date of pricing
of such offering or such shorter period during which the Company agrees not to conduct an underwritten primary offering of Ordinary
Shares or other equity securities, except in the event the Underwriters managing the offering otherwise agree by written consent.
Each Holder agrees to execute a customary lock-up agreement in favor of the Underwriters to such effect (in each case on substantially
the same terms and conditions as all such Holders).

 

    9

     

    

 

2.4 Block
Trades.

 

2.4.1 Notwithstanding
the foregoing, at any time and from time to time when an effective Shelf is on file with the Commission and effective, if a Demanding
Holder wishes to engage in an underwritten or other coordinated registered offering not involving a “roadshow,” an
offer commonly known as a “block trade” (a “Block Trade”), with a total offering price reasonably
expected to exceed, in the aggregate, either (x) $100 million or (y) all remaining Registrable Securities held by the Demanding
Holder, then notwithstanding the time periods provided for in Section 2.1.4, such Demanding Holder need only to notify the
Company of the Block Trade at least five (5) business days prior to the day such offering is to commence and the Company shall
as expeditiously as possible use its commercially reasonable efforts to facilitate such Block Trade; provided that the Demanding
Holders representing a majority of the Registrable Securities wishing to engage in the Block Trade shall use commercially reasonable
efforts to work with the Company and any Underwriters prior to making such request in order to facilitate preparation of the registration
statement, prospectus and other offering documentation related to the Block Trade.

 

2.4.2 Prior
to the filing of the applicable “red herring” prospectus or prospectus supplement used in connection with a Block Trade,
a majority-in-interest of the Demanding Holders initiating such Block Trade shall have the right to submit a Withdrawal Notice
to the Company and the Underwriter or Underwriters (if any) of their intention to withdraw from such Block Trade. Notwithstanding
anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection
with a block trade prior to its withdrawal under this Section 2.4.2.

 

2.4.3 Notwithstanding
anything to the contrary in this Agreement, Section 2.2 hereof shall not apply to a Block Trade initiated by a Demanding
Holder pursuant to this Agreement.

 

2.4.4 The
Demanding Holder in a Block Trade shall have the right to select the Underwriters for such Block Trade (which shall consist of
one or more reputable nationally recognized investment banks).

 

Article
III

COMPANY PROCEDURES

 

3.1 General Procedures.
In connection with any Shelf and/or Shelf Takedown, the Company shall use its commercially reasonable efforts to effect such Registration
to permit the sale of such Registrable Securities in accordance with the intended plan of distribution thereof, and pursuant thereto
the Company shall, as expeditiously as possible:

 

3.1.1 prepare
and file with the Commission as soon as practicable a Registration Statement with respect to such Registrable Securities and use
its reasonable best efforts to cause such Registration Statement to become effective and remain effective until all Registrable
Securities have ceased to be Registrable Securities;

 

3.1.2 prepare
and file with the Commission such amendments and post-effective amendments to the Registration Statement, and such supplements
to the Prospectus, as may be reasonably requested by any Holder that holds at least five (5.0%) percent of the Registrable Securities
registered on such Registration Statement or any Underwriter of Registrable Securities or as may be required by the rules, regulations
or instructions applicable to the registration form used by the Company or by the Securities Act or rules and regulations thereunder
to keep the Registration Statement effective until all Registrable Securities covered by such Registration Statement are sold in
accordance with the intended plan of distribution set forth in such Registration Statement or supplement to the Prospectus;

 

    10

     

    

 

3.1.3 prior
to filing a Registration Statement or Prospectus, or any amendment or supplement thereto, furnish without charge to the Underwriters,
if any, and the Holders of Registrable Securities included in such Registration, and such Holders’ legal counsel, copies
of such Registration Statement as proposed to be filed, each amendment and supplement to such Registration Statement (in each case
including all exhibits thereto and documents incorporated by reference therein), the Prospectus included in such Registration Statement
(including each preliminary Prospectus), and such other documents as the Underwriters and the Holders of Registrable Securities
included in such Registration or the legal counsel for any such Holders may request in order to facilitate the disposition of the
Registrable Securities owned by such Holders;

 

3.1.4 prior
to any public offering of Registrable Securities (i) register or qualify the Registrable Securities covered by the Registration
Statement under such securities or “blue sky”
laws of such jurisdictions in the United States as the Holders of Registrable Securities included in such Registration Statement
(in light of their intended plan of distribution) may request (or provide evidence satisfactory to such Holders that the Registrable
Securities are exempt from such registration or qualification) and (ii) take such action necessary to cause such Registrable Securities
covered by the Registration Statement to be registered with or approved by such other governmental authorities as may be necessary
by virtue of the business and operations of the Company and do any and all other acts and things that may be necessary or advisable
to enable the Holders of Registrable Securities included in such Registration Statement to consummate the disposition of such Registrable
Securities in such jurisdictions; provided, however, that the Company shall not be required to qualify generally
to do business in any jurisdiction where it would not otherwise be required to qualify or take any action to which it would be
subject to general service of process or taxation in any such jurisdiction where it is not then otherwise so subject;

 

3.1.5 cause
all such Registrable Securities to be listed on each national securities exchange on which similar securities issued by the Company
are then listed;

 

3.1.6 provide
a transfer agent or warrant agent, as applicable, and registrar for all such Registrable Securities no later than the effective
date of such Registration Statement;

 

3.1.7 advise
each seller of such Registrable Securities, promptly after it shall receive notice or obtain knowledge thereof, of the issuance
of any stop order by the Commission suspending the effectiveness of such Registration Statement or the initiation or threatening
of any proceeding for such purpose and promptly use its reasonable best efforts to prevent the issuance of any stop order or to
obtain its withdrawal if such stop order should be issued;

 

3.1.8 at
least five (5) days prior to the filing of any Registration Statement or Prospectus or any amendment or supplement to such Registration
Statement or Prospectus (or such shorter period of time as may be necessary in order to comply with the Securities Act, the Exchange
Act, and the rules and regulations promulgated under the Securities Act or Exchange Act, as applicable), furnish a copy thereof
to each seller of such Registrable Securities or its counsel (excluding any exhibits thereto and any filing made under the Exchange
Act that is to be incorporated by reference therein);

 

3.1.9 notify
the Holders at any time when a Prospectus relating to such Registration Statement is required to be delivered under the Securities
Act, of the happening of any event as a result of which the Prospectus included in such Registration Statement, as then in effect,
includes a Misstatement, and then to correct such Misstatement as set forth in Section 3.4 hereof;

 

    11

     

    

 

3.1.10 permit
a representative of any Holder, the Underwriters, if any, and any attorney or accountant retained by such Holder(s) or Underwriter
to participate, at each such person’s own expense, in the preparation of the Registration Statement, and cause the Company’s
officers, directors and employees to supply all information reasonably requested by any such representative, Underwriter, attorney
or accountant in connection with the Registration; provided, however, that such representatives or Underwriters agree
to confidentiality arrangements reasonably satisfactory to the Company, prior to the release or disclosure of any such information;

 

3.1.11 obtain
a “comfort” letter from the Company’s independent registered public accountants in the event of an Underwritten
Offering or other coordinated offering that is registered pursuant to a Registration Statement, in customary form and covering
such matters of the type customarily covered by “comfort” letters as the managing Underwriter or other similar type
of sales agent or placement agent may reasonably request, and reasonably satisfactory to a majority-in-interest of the participating
Holders;

 

3.1.12 on
the date the Registrable Securities are delivered for sale pursuant to such Registration, obtain an opinion, dated such date, of
counsel representing the Company for the purposes of such Registration, addressed to the Holders, the placement agent or sales
agent, if any, and the Underwriters, if any, covering such legal matters with respect to the Registration in respect of which such
opinion is being given as the Holders, placement agent, sales agent, or Underwriter may reasonably request and as are customarily
included in such opinions and negative assurance letters, and reasonably satisfactory to a majority-in-interest of the participating
Holders;

 

3.1.13 in
the event of any Underwritten Offering or other coordinated offering that is registered pursuant to a Registration Statement, enter
into and perform its obligations under an underwriting agreement, sales agreement or placement agreement, in usual and customary
form, with the managing Underwriter, sales agent or placement agent of such offering;

 

3.1.14 make
available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve
(12) months beginning with the first day of the Company’s first full calendar quarter after the effective date of the Registration
Statement which satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any successor rule
then in effect);

 

3.1.15 if
the Registration involves the Registration of Registrable Securities involving gross proceeds in excess of $50 million with respect
to an Underwritten Offering pursuant to Section 2.1.4, use its reasonable efforts to make available senior executives
of the Company to participate in customary “road show” presentations that may be reasonably requested by the Underwriter
in such Underwritten Offering; and

 

3.1.16 otherwise,
in good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by the Holders, in connection
with such Registration.

 

Notwithstanding the foregoing,
the Company shall not be required to provide any documents or information to an Underwriter or other sales agent or placement agent
if such Underwriter or other sales agent or placement agent has not then been named with respect to the applicable Underwritten
Offering or other coordinated offering that is registered pursuant to a Registration Statement.

 

3.2 Registration
Expenses. The Registration Expenses of all Registrations shall be borne by the Company. It is
acknowledged by the Holders that the Holders shall bear all incremental selling expenses relating to the sale of Registrable Securities,
such as Underwriters’ or agents’ commissions and discounts, brokerage fees, Underwriter marketing costs and, other
than as set forth in the definition of “Registration Expenses,” all reasonable fees and expenses of any legal
counsel representing the Holders.

 

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3.3 Requirements
for Participation in Registration Statement Underwritten Offerings. Notwithstanding anything
in this Agreement to the contrary, if any Holder does not provide the Company with its requested Holder Information, the Company
may exclude such Holder’s Registrable Securities from the applicable Registration Statement or Prospectus if the Company
determines, based on the advice of counsel, that such information is necessary to effect the registration and such Holder continues
thereafter to withhold such information. No person may participate in any Underwritten Offering or other coordinated offering
for equity securities of the Company pursuant to a Registration initiated by the Company hereunder unless such person (i) agrees
to sell such person’s securities on the basis provided in any arrangements approved by the Company and (ii) completes and
executes all customary questionnaires, powers of attorney, indemnities, lock-up agreements, underwriting or other agreements and
other customary documents as may be reasonably required under the terms of such arrangements. The exclusion of a Holder’s
Registrable Securities as a result of this Section 3.3 shall not affect the registration of the other Registrable
Securities to be included in such Registration. 

 

3.4 Suspension
of Sales; Adverse Disclosure; Restrictions on Registration Rights. 

 

3.4.1 Upon
receipt of written notice from the Company that a Registration Statement or Prospectus contains a Misstatement, each of the Holders
shall forthwith discontinue disposition of Registrable Securities until it has received copies of a supplemented or amended Prospectus
correcting the Misstatement (it being understood that the Company hereby covenants to prepare and file such supplement or amendment
as soon as practicable after the time of such notice), or until it is advised in writing by the Company that the use of the Prospectus
may be resumed.

 

3.4.2 If
the filing, initial effectiveness or continued use of a Registration Statement in respect of any Registration at any time would
(a) require the Company to make an Adverse Disclosure, (b) require the inclusion in such Registration Statement of financial
statements that are unavailable to the Company for reasons beyond the Company’s control, or (c) in the good faith judgment
of the majority of the Board such Registration, cause serious and irreparable harm to the Company and the majority of the Board
concludes as a result that it is essential to defer such filing, initial effectiveness or continued use at such time, the Company
may, upon giving prompt written notice of such action to the Holders, delay the filing or initial effectiveness of, or suspend
use of, such Registration Statement for the shortest period of time determined in good faith by the Company to be necessary for
such purpose. In the event the Company exercises its rights under this Section 3.4.2, the Holders agree to suspend,
immediately upon their receipt of the notice referred to above, their use of the Prospectus relating to any Registration in connection
with any sale or offer to sell Registrable Securities.

 

3.4.3 (a)
During the period starting with the date sixty (60) days prior to the Company’s good faith estimate of the date of the filing
of, and ending on a date one hundred and twenty (120) days after the effective date of, a Company-initiated Registration and provided
that the Company continues to actively employ, in good faith, all reasonable efforts to maintain the effectiveness of the applicable
Shelf Registration Statement, or (b) if, pursuant to Section 2.1.4, Holders have requested an Underwritten Shelf Takedown
and the Company and such Holders are unable to obtain the commitment of underwriters to firmly underwrite such offering, the Company
may, upon giving prompt written notice of such action to the Holders, delay any other registered offering pursuant to Section 2.1.4
or 2.4.

 

3.5 Reporting Obligations.
As long as any Holder shall own Registrable Securities, the Company, at all times while it shall be a reporting company under
the Exchange Act, covenants to file timely (or obtain extensions in respect thereof and file within the applicable grace period)
all reports required to be filed by the Company after the date hereof pursuant to Sections 13(a) or 15(d) of the Exchange Act
and to promptly furnish the Holders with true and complete copies of all such filings; provided that any documents publicly
filed or furnished with the Commission pursuant to the Electronic Data Gathering, Analysis and Retrieval System shall be deemed
to have been furnished or delivered to the Holders pursuant to this Section 3.5. The Company further covenants that it
shall take such further action as any Holder may reasonably request, all to the extent required from time to time to enable such
Holder to sell Registrable Securities held by such Holder without registration under the Securities Act within the limitation
of the exemptions provided by Rule 144 promulgated under the Securities Act (or any successor rule then in effect). Upon the request
of any Holder, the Company shall deliver to such Holder a written certification of a duly authorized officer as to whether it
has complied with such requirements.

 

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Article
IV

INDEMNIFICATION AND CONTRIBUTION

 

4.1 Indemnification.

 

4.1.1 The
Company agrees to indemnify and hold harmless, to the extent permitted by law, each Holder of Registrable Securities, its officers,
directors and agents and each person who controls such Holder (within the meaning of the Securities Act) against all losses, claims,
damages, liabilities and out-of-pocket expenses (including without limitation reasonable outside attorneys’ fees) arising
out of or resulting from any untrue or alleged untrue statement of material fact contained 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 not misleading, except insofar as the same are caused
by or contained in any information or affidavit so furnished in writing to the Company by such Holder expressly for use therein,
or any violation by the Company of the Securities Act or any rule or regulation promulgated thereunder applicable to the Company
and relating to action or inaction of the Company in connection therewith.

 

4.1.2 In
connection with any Registration Statement in which a Holder of Registrable Securities is participating, such Holder shall furnish
to the Company in writing such information and affidavits with respect to such Holder as the Company reasonably requests for use
in connection with any such Registration Statement or Prospectus (the “Holder Information”) and, to the
extent permitted by law, shall indemnify and hold harmless the Company, its directors, officers and agents and each person who
controls the Company (within the meaning of the Securities Act) against all losses, claims, damages, liabilities and out-of-pocket
expenses (including without limitation reasonable outside attorneys’ fees) arising out of or resulting from any untrue or
alleged untrue statement of material fact contained 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 not misleading, but only to the extent that such untrue or alleged untrue statement or
omission or alleged omission is contained in any information or affidavit so furnished in writing by such Holder expressly for
use therein; provided, however, that the obligation to indemnify shall be several, not joint and several, among such
Holders of Registrable Securities, and the liability of each such Holder of Registrable Securities shall be in proportion to and
limited to the net proceeds received by such Holder from the sale of Registrable Securities pursuant to such Registration Statement.
The Holders of Registrable Securities shall indemnify the Underwriters, their officers, directors and each person who controls
such Underwriters (within the meaning of the Securities Act) to the same extent as provided in the foregoing with respect to indemnification
of the Company.

 

4.1.3 Any
person entitled to indemnification herein shall (i) 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 right to
indemnification hereunder to the extent such failure has not materially prejudiced the indemnifying party) and (ii) 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 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.

 

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4.1.4 The
indemnification provided for under this 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 of such indemnified party and shall survive
the transfer of securities. The Company and each Holder of Registrable Securities participating in an offering also agrees to make
such provisions as are reasonably requested by any indemnified party for contribution to such party in the event the Company’s
or such Holder’s indemnification is unavailable for any reason.

 

4.1.5 If
the indemnification provided under Section 4.1 hereof from the indemnifying party is unavailable or insufficient to hold
harmless an indemnified party in respect of any losses, claims, damages, liabilities and out-of-pocket 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 out-of-pocket 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. The relative fault of the indemnifying party and indemnified party shall be determined by reference to, among other
things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged
omission to state a material fact, was made by, or relates to information supplied by, such indemnifying party or indemnified party,
and the indemnifying party’s and indemnified party’s relative intent, knowledge, access to information and opportunity
to correct or prevent such action; provided, however, that the liability of any Holder under this Section 4.1.5
shall be limited to the amount of the net proceeds received by such Holder in such offering giving rise to such liability. The
amount paid or payable by a party as a result of the losses or other liabilities referred to above shall be deemed to include,
subject to the limitations set forth in Sections 4.1.1, 4.1.2 and 4.1.3 above, any legal or other fees, charges
or out-of-pocket expenses reasonably incurred by such party in connection with any investigation or proceeding. The parties hereto
agree that it would not be just and equitable if contribution pursuant to this Section 4.1.5 were determined by pro rata
allocation or by any other method of allocation, which does not take account of the equitable considerations referred to in this
Section 4.1.5. 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 4.1.5 from any person who was not guilty of such fraudulent misrepresentation.

 

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Article
V

MISCELLANEOUS

 

5.1 Notices.
All notices, requests, claims, demands 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 e-mailed during normal business hours (and otherwise as of the
immediately following Business Day), addressed as follows:

 

	 	If to the Company, to:
	 	 
	 	Innoviz Technologies Ltd.
	 	2 Amal St.
	 	Rosh HaAin
	 	4809202, Israel
	 	Attention: 	Eldar Cegla, Chief Financial Officer
	 	Email: 	eldarc@innoviz-tech.com
	 	 
	 	with copies (which shall not constitute notice) to:
	 	Latham & Watkins LLP
	 	811 Main Street, Suite 3700
	 	Houston, Texas 77002
	 	Attention: 	Ryan Maierson
	 	E-mail: 	ryan.maierson@lw.com
	 	 
	 	Latham & Watkins LLP
	 	99 Bishopsgate
	 	London EC2M 3XF
	 	United Kingdom 
	 	Attention: 	Joshua Kiernan
	 	E-mail: 	joshua.kiernan@lw.com

 

If to any Holder, to such address indicated
on the Company’s records with respect to such Shareholder Party or to such other address or addresses as such Shareholder
Party may from time to time designate in writing.

 

5.2 Assignment;
No Third Party Beneficiaries

 

5.2.1 This
Agreement and the rights, duties and obligations of the Company hereunder may not be assigned or delegated by the Company in whole
or in part.

 

5.2.2 A
Holder may assign or delegate such Holder’s rights, duties or obligations under this Agreement, in whole or in part, to any
person to whom it transfers Registrable Securities; provided that such Registrable Securities remain Registrable Securities following
such transfer and such person agrees to become bound by the terms and provisions of this Agreement.

 

5.2.3 No
assignment by any party hereto of such party’s rights, duties and obligations hereunder shall be binding upon or obligate
the Company unless and until the Company shall have received (i) written notice of such assignment as provided in Section 5.1 hereof
and (ii) the written agreement of the assignee, in a form reasonably satisfactory to the Company, to be bound by the terms and
provisions of this Agreement (which may be accomplished by an addendum or certificate of joinder to this Agreement).

 

5.2.4 Subject
to the foregoing, this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective permitted
successors and assigns. Any attempted assignment in violation of the terms of this Section 5.2 shall be null and void, ab
initio.

 

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5.2.5 This
Agreement shall not confer any rights or benefits on any persons that are not parties hereto, other than as expressly set forth
in this Agreement and Section 5.2 hereof.

 

5.3 Captions; Counterparts.
The headings, subheadings and captions contained in this Agreement are inserted for convenience only and shall not affect in any
way the meaning or interpretation of this Agreement. This Agreement and any amendment hereto may be executed in one or more counterparts,
each of which shall be deemed to be an original, but all of which shall constitute one and the same agreement. Delivery of an
executed counterpart of a signature page to this Agreement or any amendment hereto by electronic means, including docusign, e-mail,
or scanned pages shall be effective as delivery of a manually executed counterpart to this Agreement or any amendment hereto.

 

5.4 Governing Law.
This Agreement, and all claims or causes of action based upon, arising out of, or related to this Agreement, shall be governed
by and construed in accordance with the laws of the State of Delaware, without giving effect to any choice of law or conflict
of law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application of the
law of any jurisdiction other than the State of Delaware.

 

5.5 Jurisdiction;
Waiver of Jury Trial.

 

5.5.1 Each
of the parties hereto irrevocably and unconditionally submits to the exclusive jurisdiction of the Chancery Court of the State
of Delaware (or, if the Chancery Court of the State of Delaware declines to accept jurisdiction, any state or federal court sitting
in the Borough of Manhattan, State of New York, New York County), for the purposes of any Proceeding (as defined in the Business
Combination Agreement), claim, demand, action or cause of action (a) arising under this Agreement or (b) in any way connected with
or related or incidental to the dealings of the parties hereto in respect of this Agreement, and irrevocably and unconditionally
waives any objection to the laying of venue of any such Proceeding in any such court, and further irrevocably and unconditionally
waives and agrees not to plead or claim in any such court that any such Proceeding has been brought in an inconvenient forum. Each
party hereby irrevocably and unconditionally waives, and agrees not to assert, by way of motion or as a defense, counterclaim or
otherwise, in any Proceeding, claim, demand, action or cause of action against such Party (i) arising under this Agreement or (ii)
in any way connected with or related or incidental to the dealings of the parties hereto in respect of this Agreement, (A) any
claim that such party is not personally subject to the jurisdiction of the courts as described in this Section 5.5 for
any reason, (B) that such party or such party’s property is exempt or immune from the jurisdiction of any such court
or from any legal process commenced in such courts (whether through service of notice, attachment prior to judgment, attachment
in aid of execution of judgment, execution of judgment or otherwise) and (C) that (x) the Proceeding, claim, demand,
action or cause of action in any such court is brought against such party in an inconvenient forum, (y) the venue of such
Proceeding, claim, demand, action or cause of action against such party is improper or (z) this Agreement, or the subject
matter hereof, may not be enforced against such party in or by such courts. Each party agrees that service of any process, summons,
notice or document by registered mail to such party’s respective address set forth in Section 5.5 shall be effective
service of process for any such Proceeding, claim, demand, action or cause of action.

 

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5.5.2 THE
PARTIES HERETO EACH HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT TO TRIAL BY JURY OF ANY PROCEEDING, CLAIM,
DEMAND, ACTION, OR CAUSE OF ACTION (I) ARISING UNDER THIS AGREEMENT OR UNDER ANY ANCILLARY DOCUMENT OR (II) IN ANY WAY CONNECTED
WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO IN RESPECT OF THIS AGREEMENT, WHETHER NOW EXISTING OR HEREAFTER
ARISING, AND WHETHER IN CONTRACT, TORT, EQUITY, OR OTHERWISE.  THE PARTIES HERETO EACH HEREBY AGREES AND CONSENTS THAT ANY
SUCH PROCEEDING, CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY AND THAT THE PARTIES HERETO
MAY FILE AN ORIGINAL COUNTERPART OF A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO
TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (A) 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, (B) EACH SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) EACH SUCH
PARTY MAKES THIS WAIVER VOLUNTARILY AND (D) EACH SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS,
THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 5.5.

 

5.6 Amendments
and Modifications. Upon the written consent of (a) the Company and (b) the Holders of a
majority of the total Registrable Securities, compliance with any of the provisions, covenants and conditions set forth in this
Agreement may be waived, or any of such provisions, covenants or conditions may be amended or modified; provided, however,
that in the event any such waiver, amendment or modification would be adverse in any material respect to the material rights or
obligations hereunder of a Holder of at least five (5.0%) percent of the Registrable Securities, the written consent of such Holder
will also be required; provided further that in the event any such waiver, amendment or modification would be disproportionate
and adverse in any material respect to the material rights or obligations hereunder of a Holder, the written consent of such Holder
will also be required. No course of dealing between any Holder or the Company and any other party hereto or any failure or delay
on the part of a Holder or the Company in exercising any rights or remedies under this Agreement shall operate as a waiver of
any rights or remedies of any Holder or the Company. No single or partial exercise of any rights or remedies under this Agreement
by a party shall operate as a waiver or preclude the exercise of any other rights or remedies hereunder or thereunder by such
party.

 

5.7 Termination
of Existing Registration Rights. The registration rights granted under this Agreement shall supersede any registration, qualification
or similar rights of the Holders with respect to any shares or securities of Collective Growth or the Company granted under any
other agreement, including, but not limited to, that certain Registration Rights Agreement dated as of May 5, 2020, among Collective
Growth and the investors party thereto, and that certain Amended and Restated Investors’ Rights Agreement, dated as of October
1, 2020, among the Company, the Founders defined therein and the Investors defined therein, and any of such preexisting registration,
qualification or similar rights and such agreements shall be terminated and of no further force and effect.

 

5.8 Term.
This Agreement shall terminate with respect to any Holder on the date that such Holder no longer holds any Registrable Securities.
The provisions of Sections 3.5, 5.1, 5.4, and 5.5, and Article IV shall survive any termination.

 

5.9 Termination
if Business Combination Agreement is Terminated. In the event the Business Combination Agreement is terminated in accordance
with its terms, this Agreement shall automatically terminate and be of no further force and effect, except for Article IV
and Sections 5.1, 5.4, and 5.5, which shall survive such termination.

 

5.10 Holder
Information. Each Holder agrees, if requested in writing, to represent to the Company the total number of Registrable Securities
held by such Holder in order for the Company to make determinations hereunder.

 

[SIGNATURE PAGES FOLLOW]

 

    18

     

    

 

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

 

	 	Innoviz Technologies Ltd.
	 	 	 	 
	 	By:	/s/ Eldar Cegla
	 	 	Name:	Eldar Cegla
	 	 	Title:	Chief Financial Officer
	 	 	 	 
	 	Perception Capital Corp.
	 	 	 	 
	 	By:	/s/ James J. Sheridan III
	 	 	Name:	James J. Sheridan III
	 	 	Title:	CEO
	 	 	 	 
	 	Antara Capital LP
	 	 	 	 
	 	By:	/s/ Himanshu Gulati
	 	 	Name:	Himanshu Gulati
	 	 	Title:	Managing Partner
	 	 	 	 
	 	Shipwright SPAC I, LLC
	 	 	 	 
	 	By:	/s/ Andrew Townsend
	 	 	Name:	Andrew Townsend
	 	 	Title:	Managing Member
	 	 	 	 
	 	THE LINTON FAMILY TRUST (2040)
	 	 	 	 
	 	By:	/s/ Bruce Linton
	 	 	Name:	Bruce Linton
	 	 	Title:	Trustee
	 	 	 	 
	 	GWW LLC
	 	 	 	 
	 	By:	/s/ Geoffrey W. Whaling
	 	 	Name:	Geoffrey W. Whaling
	 	 	Title:	Member

 

[Signature Page to Registration Rights
Agreement]

 

     

     

    

  

	 	/s/ Tim Saunders
	 	Tim Saunders
	 	 
	 	/s/ Jonathan Sherman
	 	Jonathan Sherman
	 	 
	 	/s/ Wilson Kello
	 	Wilson Kello
	 	 	 	 
	 	2702933 ontario inc.
	 	 	 	 
	 	By:	/s/ Jonathan Sherman
	 	 	Name:	Jonathan Sherman
	 	 	Title:	Director
	 	 	 	 
	 	2702932 ontario inc.
	 	 	 	 
	 	By:	/s/ Jamie Litchen
	 	 	Name:	Jamie Litchen
	 	 	Title:	Director
	 	 	 	 
	 	/s/ Omer Keilaf
	 	Omer Keilaf
	 	 
	 	/s/ Oren Rosenzweig
	 	Oren Rosenzweig
	 	 
	 	/s/ Oren Buskila
	 	Oren Buskila
	 	 
	 	/s/ Zohar Zisapel
	 	Zohar Zisapel

 

[Signature Page to Registration Rights
Agreement]

 

     

     

    

  

	 	MICHAEL AND KILL HOLDINGS (93) LTD.
	 	 	 	 
	 	By:	/s/
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	LOMSHA LTD.
	 	 	 	 
	 	By:	/s/
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	MAGMA VENTURE CAPITAL IV L.P.
	 	 	 	 
	 	By:	/s/ Yahal Zilka
	 	 	Name:	Yahal Zilka
	 	 	Title:	 
	 	 	 	 
	 	MAGMA VENTURE CAPITAL IV CEO FUND LP
	 	 	 	 
	 	By:	/s/ Yahal Zilka
	 	 	Name:	Yahal Zilka
	 	 	Title:	 
	 	 	 	 
	 	VERTEX IV (C.I.) FUND, L.P.
	 	 	 	 
	 	By:	/s/ Yoram Oron
	 	 	Name:	Yoram Oron
	 	 	Title:	General Partner
	 	 	 	 
	 	By:	/s/ Ran Gartenberg
	 	 	Name:	Ran Gartenberg
	 	 	Title:	CFO & General Partner

 

[Signature Page to Registration Rights
Agreement]

 

     

     

    

  

	 	AMITI FUND II, L.P.
	 	 	 	 
	 	By:	/s/ Ben Rabinowitz
	 	 	Name:	Ben Rabinowitz
	 	 	Title:	 
	 	 	 	 
	 	AMITI INNOVIZ, L.P.
	 	 	 	 
	 	By:	/s/ Ben Rabinowitz
	 	 	Name:	Ben Rabinowitz
	 	 	Title:	 
	 	 	 	 
	 	DELEK MOTORS LTD.
	 	 	 	 
	 	By:	/s/ Mosho Levi
	 	 	Name:	Mosho Levi
	 	 	Title:	Vice President of Investor Relations
	 	 	 	 
	 	MAGNA US INVESTMENTS, INC.
	 	 	 	 
	 	By:	/s/ Seetarama Swamy Kotagiri
	 	 	Name:	Seetarama Swamy Kotagiri
	 	 	Title:	 
	 	 	 	 
	 	By:	/s/ Bruce Cluney
	 	 	Name:	Bruce Cluney
	 	 	Title:	Executive Vice-President
	 	 	 	 
	 	MAGNA INTERNATIONAL INC.
	 	 	 	 
	 	By:	/s/ Seetarama Swamy Kotagiri
	 	 	Name:	Seetarama Swamy Kotagiri
	 	 	Title:	 
	 	 	 	 
	 	By:	/s/ Bruce Cluney
	 	 	Name:	Bruce Cluney
	 	 	Title:	Executive Vice-President

 

[Signature Page to Registration Rights
Agreement]

 

     

     

    

  

	 	INTEGRATED DYNAMIC ENTERPRISES LIMITED
	 	 	 	 
	 	By:	/s/
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	INTEGRATED DYNAMIC ENTERPRISES A LIMITED
	 	 	 	 
	 	By:	/s/
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	ALLIED HOLDINGS LTD.
	 	 	 	 
	 	By:	/s/ Raanan Weissel
	 	 	Name:	Raanan Weissel
	 	 	Title:	Chief Financial Officer
	 	 	 	 
	 	By:	/s/ Yigal Schreiber
	 	 	Name:	Yigal Schreiber
	 	 	Title:	Chief Executive Officer
	 	 	 	 
	 	SB GLOBAL CHAMP FUND
	 	 	 	 
	 	By:	/s/ Benjamin Eli Weiss
	 	 	Name:	Benjamin Eli Weiss
	 	 	Title:	Venture Partner
	 	 	 	 
	 	SB NEXT MEDIA INNOVATION FUND
	 	 	 	 
	 	By:	/s/ Benjamin Eli Weiss
	 	 	Name:	Benjamin Eli Weiss
	 	 	Title:	Venture Partner

 

[Signature Page to Registration Rights
Agreement]

 

     

     

    

  

	 	GLORY VENTURES INVESTMENTS FUND II L.P.
	 	 	 	 
	 	By:	/s/ Yang Craig
	 	 	Name:	Yang Craig
	 	 	Title:	 
	 	 	 	 
	 	ROBOLUTION CAPITAL I
	 	 	 	 
	 	By:	/s/
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	HAREL PENSION AND PROVIDENT LTD. SOLELY ON BEHALF OF HAREL PENSION
	 	 	 	 
	 	By:	/s/ Shmuel Babecov
	 	 	Name:	Shmuel Babecov
	 	 	Title:	Chief Investment Officer
	 	 	 	 
	 	By:	/s/ Koby Kehaty	 
	 	 	Name:	Koby Kehaty
	 	 	Title:	Equity Investments
	 	 	 	 
	 	TZAVA HAKEVA SAVING FUND – PROVIDENT FUNDS MANAGEMENT COMPANY LTD. SOLELY ON BEHALF OF TZVA HAKEVA SAVINGS FUND
	 	 	 	 
	 	By:	/s/ Shmuel Babecov
	 	 	Name:	Shmuel Babecov
	 	 	Title:	Chief Investment Officer
	 	 	 	 
	 	By:	/s/ Koby Kehaty
	 	 	Name:	Koby Kehaty
	 	 	Title:	Equity Investments

 

[Signature Page to Registration Rights
Agreement]

 

     

     

    

  

	 	HAREL PENSION AND PROVIDENT LTD. SOLELY ON BEHALF OF HAREL PROVIDENT FUND
	 	 	 	 
	 	By:	/s/ Shmuel Babecov
	 	 	Name:	Shmuel Babecov
	 	 	Title:	Chief Investment Officer
	 	 	 	 
	 	By:	/s/ Koby Kehaty
	 	 	Name:	Koby Kehaty
	 	 	Title:	Equity Investments
	 	 	 	 
	 	HAREL INSURANCE COMPANY LTD. (PARTICIPATING FUNDS)
	 	 	 	 
	 	By:	/s/ Shmuel Babecov
	 	 	Name:	Shmuel Babecov
	 	 	Title:	Chief Investment Officer
	 	 	 	 
	 	By:	/s/ Koby Kehaty
	 	 	Name:	Koby Kehaty
	 	 	Title:	Equity Investments
	 	 	 	 
	 	LEATID PENSION FUNDS MANAGEMENT COMPANY LTD. SOLELY ON BEHALF OF ATIDIT PENSION FUND
	 	 	 	 
	 	By:	/s/ Shmuel Babecov
	 	 	Name:	Shmuel Babecov
	 	 	Title:	Chief Investment Officer
	 	 	 	 
	 	By:	/s/ Koby Kehaty
	 	 	Name:	Koby Kehaty
	 	 	Title:	Equity Investments

 

[Signature Page to Registration Rights
Agreement]

 

     

     

    

  

	 	HAREL PENSION AND PROVIDENT LTD. SOLELY ON BEHALF OF HAREL GENERAL PLAN
	 	 	 	 
	 	By:	/s/ Shmuel Babecov
	 	 	Name:	Shmuel Babecov
	 	 	Title:	Chief Investment Officer
	 	 	 	 
	 	By:	/s/ Koby Kehaty
	 	 	Name:	Koby Kehaty
	 	 	Title:	Equity Investments
	 	 	 	 
	 	HAREL PENSION AND PROVIDENT LTD. SOLELY ON BEHALF OF HAREL STUDY FUND
	 	 	 	 
	 	By:	/s/ Shmuel Babecov
	 	 	Name:	Shmuel Babecov
	 	 	Title:	Chief Investment Officer
	 	 	 	 
	 	By:	/s/ Koby Kehaty
	 	 	Name:	Koby Kehaty
	 	 	Title:	Equity Investments
	 	 	 	 
	 	HAREL PENSION AND PROVIDENT LTD. SOLELY ON BEHALF OF HAREL PROVIDENT INVESTMENT
	 	 	 	 
	 	By:	/s/ Shmuel Babecov
	 	 	Name:	Shmuel Babecov
	 	 	Title:	Chief Investment Officer
	 	 	 	 
	 	By:	/s/ Koby Kehaty
	 	 	Name:	Koby Kehaty
	 	 	Title:	Equity Investments

 

[Signature Page to Registration Rights
Agreement]

 

     

     

    

  

	 	HAREL PENSION AND PROVIDENT LTD. SOLELY ON BEHALF OF HAREL PROVIDENT INVESTMENT FOR CHILDREN
	 	 	 	 
	 	By:	/s/ Shmuel Babecov
	 	 	Name:	Shmuel Babecov
	 	 	Title:	Chief Investment Officer
	 	 	 	 
	 	By:	/s/ Koby Kehaty
	 	 	Name:	Koby Kehaty
	 	 	Title:	Equity Investments
	 	 	 	 
	 	HAREL PENSION AND PROVIDENT LTD. SOLELY ON BEHALF OF HAREL PROVIDENT INVESTMENT FOR CHILDREN
	 	 	 	 
	 	By:	/s/ Shmuel Babecov
	 	 	Name:	Shmuel Babecov
	 	 	Title:	Chief Investment Officer
	 	 	 	 
	 	By:	/s/ Koby Kehaty
	 	 	Name:	Koby Kehaty
	 	 	Title:	Equity Investments
	 	 	 	 
	 	HAREL INSURANCE COMPANY LTD. (NOSTRO)
	 	 	 	 
	 	By:	/s/ Shmuel Babecov
	 	 	Name:	Shmuel Babecov
	 	 	Title:	Chief Investment Officer
	 	 	 	 
	 	By:	/s/ Koby Kehaty
	 	 	Name:	Koby Kehaty
	 	 	Title:	Equity Investments

 

[Signature Page to Registration Rights
Agreement]

 

     

     

    

  

	 	THE PHOENIX INSURANCE COMPANY LTD.
	 	 	 	 
	 	By:	/s/
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	THE PHOENIX INSURANCE COMPANY LTD. (NOSTRO)
	 	 	 	 
	 	By:	/s/
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	THE PHOENIX EXCELLENCE PENSION & PROVIDENT FUND LTD.
	 	 	 	 
	 	By:	/s/
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	ALLIANCE ONE INVESTMENT SINGAPORE PTE LTD.
	 	 	 	 
	 	By:	/s/
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	GLORY VENTURES INVESTMENT L.P.
	 	 	 	 
	 	By:	/s/ Yang Greg
	 	 	Name:	Yang Greg
	 	 	Title:	 

 

[Signature Page to Registration Rights
Agreement]

 

     

     

    

  

	 	CHAMPEL INNOVIZ LIMITED
	 	 	 	 
	 	By:	/s/ Amir Weitmann
	 	 	Name:	Amir Weitmann
	 	 	Title:	Director
	 	 	 	 
	 	SHEFA CAPITAL – INNOVIZ OPPORTUNITY FUND, L.P.
	 	 	 	 
	 	By Shefa Capital General Partner, L.P., Its General Partner
	 	By Shefa Capital General Partner, Ltd., Its General Partner
	 	 	 	 
	 	By:	/s/ Ranan Gkobman
	 	 	Name:	Ranan Gkobman
	 	 	Title:	Managing Partner
	 	 	 	 
	 	SAMSUNG OAK HOLDINGS, INC.
	 	 	 	 
	 	By:	/s/ Young K. Sohn
	 	 	Name:	Young K. Sohn
	 	 	Title:	President

   

[Signature Page to Registration Rights
Agreement]

 

     

     

    

 

Schedule A

 

Other Equityholders

 

Perception Capital Partners LLC

Antara Capital LP

 

     

     

    

 

Schedule B

 

SPAC Holders

 

Shipwright SPAC I, LLC

The Linton Family Trust

GWW LLC

Tim Saunders

Jonathan Sherman

2702933 Ontario Inc.

2802932 Ontario Inc.

Wilson Kello

Cantor Fitzgerald & Co.

 

     

     

    

 

Schedule C

 

Innoviz Equityholders

 

Omer Keilaf

Oren Buskila

Oren Rosenzweig

Zohar Zisapel

Champel Innoviz Limited

Shefa Capital – Innoviz Opportunity Fund, L.P.

Magma Venture Capital IV LP

Magma Venture Capital IV CEO Fund LP

Vertex IV (C.I.) Fund, L.P.

Amiti Fund II, L.P.

Amiti Innoviz, L.P.

Delek Motors Ltd.

Michael and Klil Holdings (93) Ltd.

Lomsha Ltd.

Magna US Investments, Inc.

Magna International Inc.

Allied Holdings Ltd.

Integrated Dynamic Enterprises Limited

Integrated Dynamic Enterprises A Limited

Robolution Capital 1

SB Global Champ Fund

SB Next Media Innovation Fund

Harel Pension and Provident Ltd. solely on behalf of Harel Pension

Harel Pension and Provident Ltd. solely on behalf of Harel Provident
Fund

LeAtid Pension Funds Management Company Ltd. solely on behalf
of Atidit Pension Fund

Harel Pension and Provident Ltd. solely on behalf of Harel Study
Fund

Harel Pension and Provident Ltd. solely on behalf of Harel Provident
Investment For Children

Tzava Hakeva Saving Fund - Provident Funds Management Company
Ltd. solely on behalf of Tzva Hakeva Savings Fund

Harel Insurance Company Ltd. (Participating Funds)

Harel Pension and Provident Ltd. solely on behalf of Harel General
Plan

Harel Pension and Provident Ltd. solely on behalf of Harel Provident
Investment

Harel Insurance Company Ltd. (Nostro)

The Phoenix Insurance Company Ltd.

The Phoenix Excellence Pension & Provident Fund Ltd.

The Phoenix Insurance Company Ltd. (Nostro)

Alliance One Investment Singapore PTE Ltd.

Glory Ventures Investments L.P.

Glory Ventures Investment Fund II L.P.Exhibit 10.4

 

Collective Growth Corporation

1805 West Avenue

Austin, TX 78701

 

December 10, 2020

 

Shipwright SPAC I, LLC

The Linton Family Trust

GWW LLC

2702932 Ontario Inc.

2702933 Ontario Inc.

Mr. Jonathan Sherman

Mr. Timothy Saunders

Mr. Wilson Kello

 

Re: Sponsor Forfeiture

 

Ladies and Gentlemen:

 

The undersigned individuals and entities
(“Sponsors”), who are directors, officers, and shareholders of Collective Growth Corporation (“SPAC”),
purchased shares of Class B common stock of SPAC, $0.0001 par value per share (“Sponsor Shares”), and/or warrants
exercisable for shares of Class A common stock of SPAC at an initial exercise price of $11.50 per share (“SPAC Warrants”).

 

In connection with the consummation (“Closing”)
of the transactions contemplated under that certain Business Combination Agreement, dated on or about the date hereof, by and among
SPAC, Innoviz Technologies Ltd., a company organized under the laws of the State of Israel, and Hatzata Merger Sub, Inc., a Delaware
corporation, the Sponsors hereby agree to forfeit and transfer to the Company for cancellation in exchange for no consideration,
and agree that SPAC shall immediately terminate and cancel immediately prior to the Closing, an aggregate of 1,875,000 Sponsor
Shares and 187,500 SPAC Warrants, as allocated among the Sponsors on Exhibit A hereto (collectively, the “Founder
Forfeited Securities”). The Sponsors and the SPAC each shall take such actions as are necessary to cause the Founder Forfeited
Securities to be terminated and cancelled, including by directing SPAC’s transfer agent (or such other intermediaries as
appropriate) to take any and all such actions incident thereto, after which the Founder Forfeited Securities shall no longer be
issued or outstanding. Please indicate your agreement to the foregoing by signing in the space provided below.

 

[signature page follows]

 

     

     

    

 

	 	Very truly yours,
	 	 
	 	COLLECTIVE GROWTH CORPORATION
	 	 
	 	By:	/s/ Bruce Linton
	 	Name: 	Bruce Linton
	 	Title:	Chief Executive Officer

 

     

     

    

 

	ACCEPTED AND AGREED TO:	 
	 	 
	SHIPWRIGHT SPAC I, LLC	 
	 	 	 
	By:	/s/ Andrew Townsend	 
	 	Name: Andrew Townsend	 
	 	Title: Managing Member	 
	 	 	 
	THE LINTON FAMILY TRUST	 
	 	 	 
	By:	/s/ Bruce Linton	 
	 	Name: Bruce Linton	 
	 	Title: Trustee	 
	 	 	 
	GWW LLC	 
	 	 	 
	By:	/s/ Geoffrey W. Whaling	 
	 	Name: Geoffrey W. Whaling	 
	 	Title: Member	 
	 	 	 
	2702932 ONTARIO INC.	 
	 	 	 
	By:	/s/ Jamie Litchen	 
	 	Name: Jamie Litchen	 
	 	Title: Director	 
	 	 	 
	2702933 ONTARIO INC.	 
	 	 	 
	By:	/s/ Jonathan Sherman	 
	 	Name: Jonathan Sherman	 
	 	Title: Director	 

  

	/s/ Tim Saunders	 
	Tim Saunders	 
	 	 
	/s/ Jonathan Sherman	 
	Jonathan Sherman	 
	 	 
	/s/ Wilson Kello	 
	Wilson Kello	 

  

[Signature Page to Sponsor Forfeiture Agreement]

 

     

     

    

 

Exhibit A

 

	Sponsor Name	 	Sponsor Shares Forfeited	 	 	SPAC Warrants Forfeited	 
	Shipwright SPAC I, LLC	 	 	1,031,250	 	 	 	150,000	 
	The Linton Family Trust	 	 	324,375	 	 	 	15,000	 
	GWW LLC	 	 	217,813	 	 	 	12,500	 
	Jonathan Sherman	 	 	16,406	 	 	 	0	 
	2702923 Ontario Inc.	 	 	88,125	 	 	 	5,000	 
	2702933 Ontario Inc.	 	 	88,125	 	 	 	5,000	 
	Timothy Saunders	 	 	25,406	 	 	 	0	 
	Wilson Kello	 	 	83,500	 	 	 	0	 
	TOTAL	 	 	1,875,000	 	 	 	187,500

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