Document:

Exhibit 10.3

 

EMPLOYMENT AGREEMENT

 

EMPLOYMENT AGREEMENT,
made and entered effective as of the 1st day of March, 2019 (the “Effective Date”) by and between CCUR HOLDINGS,
INC., a Delaware corporation (“CCUR” or the “Company”), and WAYNE BARR, JR. (the “Employee”).

 

W I T N E S S E T H:

 

WHEREAS, the Company
desires to employ the Employee and the Employee desires to accept such employment with the Company;

 

NOW, THEREFORE, in
consideration of the premises and mutual covenants contained herein and for other good and valuable consideration, the parties
agree as follows:

 

1.       Employment

 

The Company hereby employs
the Employee and the Employee hereby accepts employment with the Company for the term set forth in Section 2 below, in the position
and with the duties and responsibilities set forth in Section 2 below, and upon other terms and conditions hereinafter stated.

 

2.       Position;
Duties; Responsibilities

 

2.1       The
term of employment hereunder shall commence on the date hereof and continue until such employment ceases as provided in Section
4.1, 4.2, 4.3, 4.4, 4.5, 4.6 or 4.7 (such period, the “Term”). It is intended that at all times during the Term of
employment hereunder, the Employee shall serve as the Chief Executive Officer of the Company. The Employee agrees to perform such
senior executive officer and managerial services customary to such position as are necessary to the operations of the Company and
as may be assigned to him from time to time by the Company’s Board of Directors (“Board of Directors”).

 

2.2       Throughout
the Term of employment hereunder, the Employee shall devote his full time and undivided attention to the business and affairs of
the Company, as appropriate to his responsibilities and duties hereunder. Nothing in this Agreement shall preclude the Employee
from devoting reasonable periods required for serving as a director or member of any advisory committee of not more than two (at
any time) “for profit” organizations, outside of service on the Board of Directors, involving no conflict of interest
with the interests of the Company (subject to approval by the Board of Directors, which approval shall not be unreasonably withheld),
or from engaging in charitable and community activities, or from managing his personal investments, provided such activities do
not interfere with the performance of his duties and responsibilities under this Agreement.

 

3.       Compensation

 

3.1       Salary

 

For services rendered
by the Employee during the Term of employment hereunder, the Employee shall be paid a salary, payable in accordance with the then
existing applicable payroll policy of the Company, at an annualized rate of $300,000, less applicable deductions and withholdings,
such salary to be reviewed annually in accordance with the Company’s regular salary review schedule.

 

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3.2       Annual
Bonus Opportunity

 

During the Term of
employment hereunder, the Employee will be eligible for a bonus opportunity under the Company’s annual bonus program (the
“NAV Program"), which currently provides an annual bonus opportunity related to the net value increase in the
Company’s assets during the annual bonus period. The Employee shall be eligible to receive a target amount of thirty-five
percent (35%) of the eligible bonus pool, to be reviewed annually in accordance with the Company’s regular bonus review schedule.
The targets and objectives for each year and other terms and conditions of the bonus opportunity shall be established each year
by the Compensation Committee of the Board of Directors.

 

3.3       Employee
Benefit Plans

 

During the Term of
employment hereunder, the Employee will be eligible to participate in all employee benefit programs of the Company made available
to senior executives, in accordance with the provisions thereof. Additionally, the Employee shall be entitled to vacation time
at the rate of four (4) weeks per calendar year or such greater amount as may be provided by Company policies in effect from time
to time.

 

3.4       Restricted
Stock; Long Term Incentive Plan

 

The Compensation Committee
of the Board of Directors will grant to the Employee an award of 40,000 shares of restricted stock of the Company (the “Restricted
Stock”) as soon as practicable after the effective date of this Agreement. The terms of the award shall provide that
the restrictions on the Restricted Stock will lapse in equal installments on the anniversary of the grant date over a three-year
period, provided that the Employee is employed with the Company on the applicable date. The Restricted Stock award shall be subject
to and governed by the terms and conditions of the CCUR Holdings, Inc. Amended and Restated 2011 Stock Incentive Plan (“Incentive
Plan”) and the award document. Notwithstanding the foregoing, such Restricted Stock shall become 100% vested in the event
the Employee’s employment is terminated because of death or Continuing Disability as provided in Section 4.2.

 

During the Term of
employment hereunder, the Employee will be eligible to participate in long term incentive programs of the Company now or hereafter
made available to senior executives, in accordance with the provisions thereof as in effect from time to time, and as deemed appropriate
by the Compensation Committee to be applicable to this position.

 

3.5       Business
Expense Reimbursements

 

During the Term of
employment hereunder, the Employee will be entitled to receive reimbursement by the Company for all reasonable out-of-pocket expenses
incurred by him (in accordance with the policies and procedures established by the Company for its senior executives), in connection
with his performing services hereunder. Reimbursements shall be made in accordance with Employer’s normal expense reimbursement
policies and procedures for its senior executives (including timing), and such reimbursement will be made no later than the last
day of the Employee’s taxable year following the taxable year in which the expense was incurred. The expenses paid by Employer
during any taxable year of the Employee will not affect the expenses paid by Employer in another taxable year. This right to reimbursement
is not subject to liquidation or exchange for another benefit.

 

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4.       Consequences
of Termination of Employment

 

4.1       Death

 

In the event of the
death of the Employee during the Term of employment hereunder, the estate or other legal representatives of the Employee shall
be entitled to salary and bonus accrued and due through the period ending on the date of his death and any other vested rights
and benefits he may have under the employee benefit plans and programs of the Company will be determined in accordance with the
terms and provisions of such plans and programs.

 

4.2       Continuing
Disability

 

Notwithstanding anything
in this Agreement to the contrary, the Company is hereby given the option to terminate the Employee’s employment in the event
of the Employee’s Continuing Disability. The Company can exercise this option by giving notice to the Employee of the Company’s
intention to terminate his employment due to Continuing Disability not earlier than 15 days from the Employee’s receipt of
such notice.

 

In the event of the
termination of the Employee’s employment due to Continuing Disability, the Employee shall be entitled to salary and bonus
accrued and due through the period ending on the date of his termination and any other vested rights and benefits he may have under
the employee benefit plans and programs of the Company will be determined in accordance with the terms and provisions of such plans
and programs.

 

For purposes hereof,
“Continuing Disability” shall mean the inability to perform the essential functions connected with the Employee’s
duties hereunder, with or without reasonable accommodation, which inability shall have existed or shall reasonably be expected
to exist for a period of 180 days, even though not consecutive, in any 24 month period. In the event the Employee does not agree
with the Company that his inability to perform the essential functions connected with the Employee’s duties may reasonably
be expected to exist for such period, the opinion of a qualified medical doctor selected by the Employee and reasonably satisfactory
to the Company shall be determinative.

 

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4.3       Termination
by the Company for Due Cause

 

Nothing herein shall
prevent the Company from terminating the employment of the Employee for Due Cause. If the Employee is terminated by the Company
for Due Cause, he shall be entitled to salary and bonus accrued and due through the period ending on the date of his termination,
the bonus, if any, earned but not paid for the fiscal year ending prior to his termination and any other vested rights and benefits
he may have under the employee benefit plans and programs of the Company which shall be determined in accordance with the terms
of such plans and programs. The term “Due Cause”, as used herein, shall mean that (a) the Employee has committed
a willful serious act, such as (but not limited to) embezzlement, against the Company intended to enrich himself at the expense
of the Company or has been convicted of a felony or misdemeanor involving moral turpitude; (b) the Employee has willfully or grossly
neglected his duties hereunder or intentionally failed to observe specific lawful directives or policies of the Board of Directors,
which directives or policies were consistent with his positions, duties and responsibilities hereunder, and which failure had,
or continuing failure will have, a material adverse effect on the Company; (c) the Employee’s undertaking to provide any
chief executive officer certification required under the Sarbanes-Oxley Act of 2002 (“Sarbanes-Oxley Act”) without
taking reasonable and appropriate steps as outlined by the Company’s audit committee to determine whether the certification
was accurate; (d) the Employee’s failure to fulfill any of his duties under, or violation of any provision of, the Sarbanes-Oxley
Act, including, but not limited to, failure to establish and administer effectively systems and controls as outlined by the Company’s
audit committee necessary for compliance with the Sarbanes-Oxley Act; or (e) the Employee has committed a material violation of
the Company’s policies or procedures, or a material breach of this Agreement. Prior to any such termination, the Employee
shall be given written notice by the Board of Directors that the Company intends to terminate his employment for Due Cause under
this Section 4.3, which written notice shall specify the particular acts or omissions on the basis of which the Company intends
to so terminate the Employee’s employment, and the Employee (with his counsel, if he so chooses) shall be given the opportunity,
within 15 days of his receipt of such notice, to have a meeting with the Board of Directors to discuss such acts or omissions and
given reasonable time to remedy the situation, if it is deemed by the Board of Directors, in their good faith business judgment,
to be remediable. In the event of such termination, the Employee shall be promptly furnished written specification of the basis
therefor in reasonable detail.

 

4.4       Termination
by the Company other than for Due Cause

 

The foregoing notwithstanding,
the Company may terminate the Employee’s employment for whatever reason it deems appropriate; provided, however, that in
the event such termination is not based on death or Continuing Disability as provided in Sections 4.1 or 4.2, above, or on Due
Cause as provided in Section 4.3 above, the Employee will be entitled to receive Severance Compensation (as defined below); provided
that within thirty (30) days following the date of the Employee’s termination of employment, the Employee executes a release
in a form acceptable to the Company and such release has become irrevocable.

 

For purposes of the
foregoing, “Severance Compensation” shall consist of (a) salary continuation payments for a period of 12 months from
the date of such termination (the “Salary Continuation Period”), at the salary in effect, pursuant to Section
3.1 above, immediately prior to such termination, (b) the amount, if any, paid as an annual bonus in the year preceding the Employee’s
termination of employment, and (c) COBRA continuation coverage under the Company’s hospitalization and medical plan (the
“Health Plan”) for Employee and his eligible dependents who were covered under the Health Plan at the time of
his termination as required by Section 4980B of the Internal Revenue Code of 1986, as amended (the “Code”),
but during the Salary Continuation Period, Employee shall be eligible to continue such coverage at the same premium charged to
active employees during such period. The payments pursuant to Section 4.4(a) and (b) above shall be made in substantially equal
installments on each regularly scheduled pay date (each a “Pay Date”), beginning with the first Pay Date following
the thirtieth (30th) day after the date of the Employee’s “separation from service” (“Separation from
Service”) (within the meaning of Section 409A of the Code and the regulations, rulings and other guidance issued thereunder
(collectively, “Section 409A”)), but with the first payment being a lump sum payment covering all payment periods
from the date of the Employee’s Separation from Service through the date of such first payment.

 

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Notwithstanding the
foregoing, if at the time of the Employee’s Separation from Service, the Employee is a “specified employee” within
the meaning of Section 409A, then, to the extent any payment that the Employee becomes entitled to under this Agreement on account
of Separation from Service would be considered deferred compensation subject to Section 409A (after excluding to the maximum extent
possible any payments that may be excluded pursuant to Section 409A either as separation pay due to an involuntary separation from
service or as a short-term deferral), such payment shall not be payable until the date that is the earlier of (i) six (6) months
and one (1) day after the Employee’s Separation from Service, or (ii) the Employee’s death (the “Delay Period”).
Upon the first business day following the expiration of the Delay Period, all payments deferred pursuant to this subsection shall
be paid in a single lump sum to the Employee (without interest), and any remaining payments due under this Agreement shall be paid
as otherwise provided herein.

 

Except as specifically
set forth in this Section 4.4, the Employee shall not be entitled to any other compensation or benefits following a termination
of employment by the Company as provided in this Section 4.4, other than with respect to any vested benefits to which the Employee
is entitled pursuant to any employee benefit plan maintained by the Company.

 

4.5       Termination
Following Change of Control

 

If there is a “change
of control” (as defined in the Incentive Plan), and within one year after such “change of control” (i) the Employee’s
employment is terminated by the Company (other than for Due Cause, death or Continuing Disability), or (ii) the Employee has a
constructive termination of employment without Due Cause pursuant to Section 4.6 below, subject to executing a release in a form
acceptable to the Company and such release becoming irrevocable, the Employee will be entitled to receive (a) salary continuation
payments for a period of 12 months from the date of such termination, at the salary in effect, pursuant to Section 3.1 above, immediately
prior to such termination, (b) the amount, if any, paid as an annual bonus in the year preceding the Employee’s termination
of employment, and (c) COBRA continuation coverage under the Company’s Health Plan for Employee and his eligible dependents
who were covered under the Health Plan at the time of his termination, but during the 12 month period following Employee’s
termination, Employee shall be eligible to continue such coverage at the same premium charged to active employees during such period.
The salary continuation payments pursuant to Section 4.5(a) and (b) above shall be made in substantially equal installments on
each regularly scheduled Pay Date, beginning with the first Pay Date following the thirtieth (30th) day after the date of the Employee’s
Separation from Service, but with the first payment being a lump sum payment covering all payment periods from the date of the
Employee’s Separation from Service through the date of such first payment. To the extent applicable, such payments shall
be subject to the payment restrictions set forth in the third paragraph of Section 4.4.

 

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4.6       Constructive
Termination of Employment by the Company without Due Cause

 

Anything herein to
the contrary notwithstanding, if the Company:

 

(i)       demotes
or otherwise elects or appoints the Employee to a lesser office than set forth in Section 2.1, or

 

(ii)       causes
a material change in the nature or scope of the authorities, duties or responsibilities attached to the Employee’s position
as described in Section 2.1, or

 

(iii)       materially
decreases the Employee’s salary or annual bonus opportunity below the most recent levels provided for by the terms of Sections
3.1 and 3.2, or

 

(iv)       commits
any other material breach of this Agreement,

 

then such action (or
inaction) by the Company, unless consented to in writing by the Employee, shall constitute a constructive termination of the Employee’s
employment. If, within thirty (30) days of learning of the action (or inaction) described herein as a basis for a constructive
termination of employment, the Employee (unless he has given written consent thereto) notifies the Company in writing that he wishes
to effect a constructive termination of his employment pursuant to this Section 4.6, and such action (or inaction) is not reversed
or otherwise remedied by the Company within 30 days following receipt by the Company of such written notice, then effective at
the end of such second 30 day period, the employment of the Employee hereunder shall be deemed to have terminated by the Company
other than for Due Cause pursuant to Section 4.4 above, and the Employee shall (subject to the terms and conditions set forth in
such section, including executing a release in a form acceptable to the Company, and such release becoming irrevocable) be entitled
to Severance Compensation in accordance with Section 4.4.

 

4.7       Voluntary
Termination by the Employee

 

In the event the Employee
terminates his employment of his own volition (other than as provided in Section 4.6 above), such termination shall constitute
a voluntary termination and in such event the Employee shall be limited to the same rights and benefits as provided in connection
with termination for Due Cause under the second sentence of Section 4.3 above. For the purposes hereof, a decision by the Employee
to voluntarily retire shall constitute a voluntary termination.

 

4.8       Other
Resignations

 

In the event the Employee’s
employment with the Company is terminated (either by the Company or by the Employee), the Employee acknowledges and agrees that
he will resign from any and all other positions that the Employee then holds as an employee, officer or director of the Company
and its subsidiaries and affiliates.

 

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5.       Protective
Agreement

 

Concurrently with entering
into this Agreement, the Employee will enter into a Protective Agreement in favor of the Company substantially in the form attached
as Exhibit A hereto (the “Protective Agreement”).

 

6.       Successors
and Assigns

 

6.1       Assignment
by the Company

 

This Agreement shall
be binding upon and inure to the benefit of the Company or any corporation or other entity to which the Company may transfer all
or substantially all its assets and business and to which the Company may assign this Agreement, in which case “Company”
as used herein shall mean such corporation or other entity.

 

6.2       Assignment
by the Employee

 

The Employee may not
assign this Agreement or any part thereof without the prior written consent of the Company, which consent may be withheld by the
Company for any reason it deems appropriate.

 

7.       Arbitration

 

Except as provided below,
any disputes or claims of any kind or nature, including as to arbitrability under this Agreement, between the Employee and the
Company arising out of, related to, or in connection with any aspect of the Employee’s employment with the Company or its
termination, including all claims arising out of this Agreement and claims for alleged discrimination, harassment, or retaliation
in violation of Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, 42 U.S.C. § 1981, the Age Discrimination
in Employment Act of 1967, the Americans with Disabilities Act of 1990, the Family and Medical Leave Act of 1993, the Fair Labor
Standards Act, the Employee Retirement Income Security Act of 1974, or any other federal, state, or local law, shall be settled
by final and binding arbitration in Fulton County, Georgia. Either party may file a written demand for arbitration with the American
Arbitration Association pursuant to its National Rules for the Resolution of Employment Disputes. The arbitration shall be conducted
by a single neutral arbitrator who is a member of the Bar of the State of Georgia, has been actively engaged in the practice of
law for at least fifteen (15) years, and has substantial experience in connection with business transactions and interpretation
of contracts. In considering the relevancy, materiality, discoverability, and admissibility of evidence, the arbitrator shall take
into account, among other things, applicable principles of legal privilege, including the attorney-client privilege, the work product
doctrine, and appropriate protection of the Company’s Trade Secrets and Confidential Information. Upon the request of either
party, the arbitrator’s award shall be written and include findings of fact and conclusions of law. Judgment on the award
rendered by the arbitrator may be entered by any court having jurisdiction. Any arbitration of any claim by the Employee may not
be joined or consolidated with any other arbitration(s) by or against the Company, including through class or collective arbitration.
The prevailing party in any such arbitration, or in any action to enforce this Section or any arbitration award hereunder, shall
be entitled to recover that party’s attendant attorneys’ fees and related expenses from the other party to the maximum
extent permitted by law. The Company shall be responsible for payment of all mediation and arbitration filing and administrative
fees, and all fees and expenses of the mediator or arbitrators, irrespective of the outcome, as to any federal statutory claims
by the Employee or as may otherwise be required by law for this Agreement to be enforceable. Notwithstanding any other provision
of this Agreement, the Company may seek temporary, preliminary, or permanent injunctive relief against the Employee at any time
without resorting to arbitration. The parties agree that this Agreement involves interstate commerce and that this arbitration
provision is therefore subject to and governed by the Federal Arbitration Act. The parties confirm their agreement by initialing
below:

 

	 	 	 	 
	/s/ SS 	 	/s/ WB	 
	Company	 	Employee	 

 

 

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8.       Governing
Law

 

This Agreement shall
be deemed a contract made under, and for all purposes shall be construed in accordance with, the laws of the State of Georgia (without
reference to the principles of conflicts of law).

 

9.       Entire
Agreement

 

This Agreement, including
the Protective Agreement, contains all the understandings and representations between the parties hereto pertaining to the subject
matter hereof and supersedes all undertakings and agreements, whether oral or in writing, if any there be, previously entered into
by them with respect thereto.

 

10.       Amendment
or Modification; Waiver

 

No provision in this
Agreement may be amended or waived unless such amendment or waiver is agreed to in writing, signed by the Employee and an officer
of the Company thereunto duly authorized. Except as otherwise specifically provided in this Agreement, no waiver by any party hereto
of any breach by another party hereto of any condition or provision of this Agreement to be performed by such other party shall
be deemed a waiver of a similar or dissimilar provision or condition at the same or any prior or subsequent time.

 

11.       Notices

 

Any notice to be given
hereunder shall be in writing and delivered personally or sent by certified mail, postage prepaid, return receipt requested, addressed
to the party concerned at the address indicated below or to such other address as such party may subsequently give notice of hereunder
in writing:

 

		COMPANY:	CCUR Holdings, Inc.

 

4375 River Green Parkway

Suite 210

Duluth, GA 30096

Attn: General Counsel

 

 

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		EMPLOYEE:	At the most recent address for the Employee in the Company’s records.

 

12.       Severability

 

In the event that any
provision or portion of this Agreement shall be determined to be invalid or unenforceable for any reason, the remaining provisions
or portions of this Agreement shall be unaffected thereby and shall remain in full force and effect to the fullest extent permitted
by law.

 

13.       Withholding

 

Anything to the contrary
notwithstanding, all payments required to be made by the Company hereunder to the Employee or his estate or beneficiaries, shall
be subject to withholding of such amounts relating to taxes as the Company may reasonably determine it should withhold pursuant
to any applicable law or regulation. In lieu of withholding such amounts, in whole or in part, the Company may, in its sole discretion,
accept other provision for payment of taxes as required by law, provided it is satisfied that all requirements of law affecting
its responsibilities to withhold such taxes have been satisfied.

 

14.       Survivorship

 

The respective rights
and obligations of the parties hereunder shall survive any termination of this Agreement to the extent necessary to the intended
preservation of such rights and obligations.

 

15.       References

 

References in this Agreement
to the Employee shall be deemed, where appropriate, to refer to his legal representatives.

 

16.       Titles

 

Titles to the sections
in this Agreement are intended solely for convenience and no provision of this Agreement is to be construed by reference to the
title of any section.

 

17.       Counterparts

 

This Agreement may be
executed in several counterparts, each of which shall be deemed to be an original but all of which together shall constitute one
and the same instrument.

 

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18.       Section
409A

 

Payments pursuant to
this Agreement are intended to comply with or be exempt from Section 409A and accompanying regulations and other binding guidance
promulgated thereunder, and the provisions of this Agreement will be administered, interpreted and construed accordingly. Any payments
under this Agreement that may be excluded from Section 409A either as separation pay due to an involuntary separation from service
or as a short-term deferral shall be excluded from Section 409A to the maximum extent possible. For purposes of Section 409A, each
installment payment provided under this Agreement shall be treated as a separate payment. Whenever a payment under this Agreement
specifies a payment period with reference to a number of days, the actual date of payment within the specified period shall be
within the sole discretion of the Company, and in no event may the Employee, directly or indirectly, designate the calendar year
of any payment to be made under this Agreement, to the extent such payment is subject to Section 409A. Any payments to be made
under this Agreement upon a termination of employment shall only be made upon a Separation from Service under Section 409A. The
Company makes no representation or warranty and shall have no liability to the Employee or any other person if any provisions of
this Agreement are determined to constitute deferred compensation subject to Section 409A but do not satisfy an exemption from,
or the conditions of, Section 409A.

 

19.       Claw-Back
Policy

 

Any incentive based
compensation, or any other compensation, paid or payable to the Employee pursuant to this Agreement or any other agreement or arrangement
with the Company, which is subject to recovery under any law, government regulation, order or stock exchange listing requirement,
will be subject to such deductions and clawback (recovery) as may be required to be made pursuant to law, government regulation,
order, stock exchange listing requirement (or any policy of the Company adopted pursuant to any such law, government regulation,
order or stock exchange listing requirement). The Employee specifically authorizes the Company to withhold from future wages any
amounts that may become due under this provision; provided, however, nothing in this provision is intended to permit a change in
the terms of payment of any deferred compensation subject to Section 409A in any manner that would violate or create a plan failure
under Section 409A. This Section 19 shall survive the termination of this Agreement for a period of three (3) years.

 

 

 

[Signature Page Follows]

 

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.

 

CCUR HOLDINGS, INC.

 

 

By:

 

/s/ Steven Singer 

Steven Singer, Compensation Committee Chairman

 

 

EMPLOYEE

 

By:

 

/s/ Wayne Barr, Jr.

Wayne Barr, Jr.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Signature Page to Employment Agreement

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Exhibit A

 

PROTECTIVE AGREEMENT

 

I, the undersigned,
in consideration of and as a condition to my employment by CCUR Holdings, Inc. (the “Company”) effective March
1, 2019, do hereby agree with the Company as follows:

 

1.       Noncompete
and Nonsolicitation of Customers or Employees. During my employment by the Company, I will devote my full time and best efforts
to the business of the Company and I will not, directly or indirectly, alone or as a partner, officer, director, employee or holder
of more than 5% of the common stock of any other organization, engage in any business activity which competes directly or indirectly
with the products or services being developed, manufactured or sold by the Company and its subsidiaries. I also agree that, following
any termination of such employment, I will not, directly or indirectly, for any period in which I receive severance payments from
the Company, plus one (1) year, (a) engage in or provide any services substantially similar to the services that I provided to
the Company or its subsidiaries at any time during the last twelve (12) months of my employment to or on behalf of any person or
entity that competes with the businesses in which the Company or its subsidiaries are engaged at the time of termination of my
employment anywhere in the continental United States, which I acknowledge and agree is the primary geographic area in which the
Company and its subsidiaries compete in these businesses and thus, by virtue of my senior executive position and responsibilities
with the Company, also the primary geographic area of my employment with the Company, (b) solicit or attempt to solicit, for the
purpose of competing with the businesses in which the Company or any of its subsidiaries is engaged at the time of termination
of my employment, any customers or active prospects of the Company or its subsidiaries with which I had any material business contact
for or on behalf of the Company or its subsidiaries at any time during the last twelve (12) months of my employment, or (c) recruit
or otherwise seek to induce any employees of the Company or its subsidiaries to terminate their employment or violate any agreement
with the Company or its subsidiaries.

 

2.       Trade
Secrets and Other Confidential Information. Except as may be required in the performance of my duties with the Company, or
as may be required by law, I will not, whether during or after termination of my employment with the Company, reveal to any person
or entity or use any of the trade secrets of the Company for as long as they remain trade secrets. I also agree to these same restrictions,
during my employment with the Company and for a period of three (3) years thereafter, with respect to all other confidential information
of the Company, including its technical, financial and business information, unless such confidential information becomes publicly
available through no fault of mine or unless it is disclosed by the Company to third parties without similar restrictions.

 

Further, I agree that
any and all documents, disks, databases, notes, or memoranda prepared by me or others and containing trade secrets or confidential
information of the Company shall be and remain the sole and exclusive property of the Company, and that upon termination of my
employment or prior request of the Company I will immediately deliver all of such documents, disks, databases, notes or memoranda,
including all copies, to the Company at its main office.

 

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Further, I agree that
all Company property, such as, but not limited to cell phone(s), personal computer, software, PDAs, etc., shall be and remain the
sole and exclusive property of the Company, and that upon termination of my employment or prior request of the Company I will immediately
return all such property, to the Company.

 

3.       Inventions
and Copyrights. If at any time or times during my employment (or within six (6) months thereafter if based on trade secrets
or confidential information within the meaning of Paragraph 2 above), I make or discover, either alone or with others, any invention,
modification, development, improvement, process or secret, whether or not patented or patentable (collectively, “inventions”)
in the field of computer science or instrumentation, I will disclose in reasonable detail the nature of such invention to the Company
in writing, and if it relates to the business of the Company or any of the products or services being developed, manufactured or
sold by the Company, such invention and the benefits thereof shall immediately become the sole and absolute property of the Company
provided the Company notifies me in reasonable detail within ninety (90) days after receipt of my disclosure of such invention
that it believes such invention relates to the business of the Company or any of the products or services being developed, manufactured
or sold by the Company. I also agree to transfer such inventions and benefits and rights resulting from such inventions to the
Company without compensation and will communicate without cost, delay or prior publications all available information relating
to the inventions to the Company. At the Company’s expense I will also, whether before or after termination of my employment,
sign all documents (including patent applications) and do all acts and things that the Company may deem necessary or desirable
to effect the full assignment to the Company of my right and title to the inventions or necessary to defend any opposition thereto.
I also agree to assign to the Company all copyrights and reproduction rights to any materials prepared by me in connection with
my employment.

 

4.       Conflicting
Agreements. I represent that I have attached to this Agreement a copy of any written agreement, or a summary of any oral agreement,
which presently affects my ability to comply with the terms of this Agreement, and that to the best of my knowledge my employment
with the Company will not conflict with any agreement to which I am subject. I have returned all documents and materials belonging
to any of my former employers. I will not disclose to the Company or induce any of the Company’s employees to use trade secrets
or confidential information of any of my former employers.

 

5.       Protected
Rights; Defend Trade Secrets Act. Nothing contained in this Agreement limits my ability to file a charge or complaint with
the Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety and Health Administration,
the Securities and Exchange Commission or any other federal, state or local governmental agency or commission (collectively, “Government
Agencies”), or prevents me from providing truthful testimony in response to a lawfully issued subpoena or court order. 
Further, this Agreement does not limit my ability to communicate with any Government Agencies or otherwise participate in any investigation
or proceeding that may be conducted by any Government Agency, including providing documents or other information, without notice
to the Company. I understand that under the Defend Trade Secrets Act: (a) no individual will be held criminally or civilly liable
under federal or state trade secret law for disclosure of a trade secret (as defined in the Economic Espionage Act) that is (i)
made in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and made
solely for the purpose of reporting or investigating a suspected violation of law; or (ii) made in a complaint or other document
filed in a lawsuit or other proceeding, if such filing is made under seal so that it is not made public; and (b) an individual
who pursues a lawsuit for retaliation by an employer for reporting a suspected violation of the law may disclose the trade secret
to the attorney of the individual and use the trade secret information in the court proceeding, if the individual files any document
containing the trade secret under seal, and does not disclose the trade secret, except as permitted by court order.

 

    2 

     

    

 

6.       Miscellaneous.

 

(a)       I
hereby give the Company permission to use photographs of me, during my employment, with or without using my name, for any reasonable
business purposes the Company deems necessary or desirable.

 

(b)       The
Company shall have, in addition to any and all remedies of law, the right to an injunction, specific performance and other equitable
relief as may be appropriate to prevent the violation of my obligations hereunder.

 

(c)       I
understand that this Agreement does not create an obligation on the Company or any other person to continue my employment for any
period of time.

 

(d)       This
Agreement shall be construed in accordance with the laws of the State of Georgia. I agree that each provision of this Agreement
shall be treated as a separate and independent clause, and the unenforceability of any clause shall in no way impair the enforceability
of any of the other clauses. Moreover, if one or more of the provisions contained in this Agreement shall for any reason be held
to be extensively broad as to scope, activity, time, geographical area or subject so as to be unenforceable at law, such provision
or provisions shall be construed by the appropriate judicial body by limiting and reducing it or them so as to be enforceable to
the maximum extent compatible with applicable law as it shall then appear.

 

(e)       My
obligations under this Agreement shall survive the termination of my employment regardless of the manner of such termination for
the time periods set forth in this Agreement, and shall be binding upon my heirs, executors and administrators.

 

(f)       The
term “Company” as used in this Agreement includes Concurrent Computer Corporation and any of its subdivisions or affiliates.
The Company shall have the right to assign this Agreement to its successors and assigns.

 

(g)       The
foregoing is the entire agreement between the Company and me with regard to its subject matter, and may not be amended or supplemented
except by a written instrument signed by both the Company and me. The section headings are inserted for convenience only, and are
not intended to affect the meaning of this Agreement.

 

 

 

/s/ Wayne Barr, Jr.

Wayne Barr,
Jr.

 

 

 

    3Exhibit 4.4

 

WARRANT
AGREEMENT

 

between

 

DIAMONDPEAK
HOLDINGS CORP.

 

and

 

AMERICAN
STOCK TRANSFER & TRUST COMPANY, LLC

 

THIS
WARRANT AGREEMENT (this “Agreement”), dated as of [_], 2019, is by and between DiamondPeak Holdings
Corp., a Delaware corporation (the “Company”), and American Stock Transfer & Trust Company,
LLC, a New York limited liability trust company, as warrant agent (the “Warrant Agent”, also referred
to herein as the “Transfer Agent”).

 

WHEREAS,
on [_], 2019, the Company entered into that certain Private Placement Warrants Purchase Agreement with DiamondPeak Holdings LLC,
a Delaware limited liability company (the “Sponsor”), pursuant to which the Sponsor agreed to purchase
an aggregate of 4,060,000 warrants (or up to 4,560,000 warrants if the Over-allotment Option (as defined below) in connection
with the Offering (as defined below) is exercised in full) simultaneously with the closing of the Offering ( and the closing of
the Over-allotment Option, if applicable) bearing the legend set forth in Exhibit B hereto (the “Sponsor
Private Placement Warrants”) at a purchase price of $1.50 per Private Placement Warrant; and

 

WHEREAS,
on [_], 2019, the Company and the Sponsor entered into those certain subscription agreements (together, the “Anchor
Subscription Agreement”) with certain funds and accounts managed by subsidiaries of BlackRock, Inc. (together, the
“Anchor Investor”), pursuant to which the Anchor Investor agreed to purchase an aggregate of 606,667
Private Placement Warrants (the “Anchor Private Placement Warrants”; together with the Sponsor Private
Placement Warrants, the “Private Placement Warrants”) at a purchase price of $1.50 per Private Placement
Warrant; and

 

 WHEREAS,
in order to finance the Company’s transaction costs in connection with an intended initial Business Combination (as defined
below), the Sponsor or an affiliate of the Sponsor or certain of the Company’s officers and directors may, but are not obligated
to, loan the Company funds as the Company may require, of which up to $1,500,000 of such loans may be convertible into up to an
additional 1,000,000 Private Placement Warrants at a price of $1.50 per warrant (the “Working Capital Warrants”);
and

 

WHEREAS,
the Company is engaged in an initial public offering (the “Offering”) of units of the Company’s
equity securities, each such unit comprised of one share of Common Stock (as defined below) and one-third of one Public Warrant
(as defined below) (the “Units”) and, in connection therewith, has determined to issue and deliver up
to 9,583,334 warrants (including up to 1,250,000 warrants subject to the Over-allotment Option) to public investors in the Offering
(the “Public Warrants”). Each whole Warrant entitles the holder thereof to purchase one share of Class A
common stock of the Company, par value $0.0001 per share (“Common Stock”), for $11.50 per share, subject
to adjustment as described herein. Only whole warrants are exercisable; and

 

WHEREAS,
the Company has filed with the Securities and Exchange Commission (the “Commission”) a registration
statement on Form S-1, File No. 333-229286 (the “Registration Statement”) and prospectus (the
“Prospectus”), for the registration, under the Securities Act of 1933, as amended (the “Securities
Act”), of the Units, the Public Warrants and the Common Stock included in the Units; and

 

WHEREAS,
following consummation of the Offering, the Company may issue additional warrants (“Post-IPO Warrants”
and together with the Private Placement Warrants, the Working Capital Warrants and the Public Warrants, the “Warrants”)
in connection with, or following the consummation by the Company of, a Business Combination; and

 

    1

     

    

 

WHEREAS,
the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection
with the issuance, registration, transfer, exchange, redemption and exercise of the Warrants; and

 

WHEREAS,
the Company desires to provide for the form and provisions of the Warrants, the terms upon which they shall be issued and exercised,
and the respective rights, limitation of rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants;
and

 

WHEREAS,
all acts and things have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company
and countersigned by or on behalf of the Warrant Agent (if a physical certificate is issued), as provided herein, the valid, binding
and legal obligations of the Company, and to authorize the execution and delivery of this Agreement.

 

NOW,
THEREFORE, in consideration of the mutual agreements herein contained, the parties hereto agree as follows:

 

1. 
Appointment of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company for the Warrants,
and the Warrant Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions
set forth in this Agreement.

 

2. 
Warrants.

 

2.1 
Form of Warrant. Each Warrant shall be issued in registered form only.

 

2.2 
Effect of Countersignature. If a physical certificate is issued, unless and until countersigned by the Warrant Agent pursuant
to this Agreement, a Warrant shall be invalid and of no effect and may not be exercised by the holder thereof.

 

2.3 
Registration.

 

2.3.1 
Warrant Register. The Warrant Agent shall maintain books (the “Warrant Register”), for the registration
of original issuance and the registration of transfer of the Warrants. Upon the initial issuance of the Warrants in book entry
form, the Warrant Agent shall issue and register the Warrants in the names of the respective holders thereof in such denominations
and otherwise in accordance with instructions delivered to the Warrant Agent by the Company. Ownership of beneficial interests
in the Public Warrants shall be shown on, and the transfer of such ownership shall be effected through, records maintained by
institutions that have accounts with the Depository Trust Company (the “Depositary”) (such institution,
with respect to a Warrant in its account, a “Participant”).

 

If
the Depositary subsequently ceases to make its book-entry settlement system available for the Public Warrants, the Company may
instruct the Warrant Agent regarding making other arrangements for book-entry settlement. In the event that the Public Warrants
are not eligible for, or it is no longer necessary to have the Public Warrants available in, book-entry form, the Warrant Agent
shall provide written instructions to the Depositary to deliver to the Warrant Agent for cancellation each book-entry Public Warrant,
and the Company shall instruct the Warrant Agent to deliver to the Depositary definitive certificates in physical form evidencing
such Warrants which shall be in the form annexed hereto as Exhibit A.

 

Physical
certificates, if issued, shall be signed by, or bear the facsimile signature of, the Chairman of the Board, Chief Executive Officer,
Chief Financial Officer, Secretary or other principal officer of the Company. In the event the person whose facsimile signature
has been placed upon any Warrant shall have ceased to serve in the capacity in which such person signed the Warrant before such
Warrant is issued, it may be issued with the same effect as if he or she had not ceased to be such at the date of issuance.

 

2.3.2 
Registered Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent
may deem and treat the person in whose name such Warrant is registered in the Warrant Register (the “Registered Holder”)
as the absolute owner of such Warrant and of each Warrant represented thereby (notwithstanding any notation of ownership or other
writing on any physical certificate made by anyone other than the Company or the Warrant Agent), for the purpose of any exercise
thereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.

 

    2

     

    

 

2.4 
Detachability of Warrants. The Common Stock and Public Warrants comprising the Units shall begin separate trading on the
52nd day following the date of the Prospectus or, if such 52nd day is not on a day, other than a Saturday, Sunday or federal holiday,
on which banks in New York City are generally open for normal business (a “Business Day”), then on the
immediately succeeding Business Day following such date, or earlier (the “Detachment Date”) with the
consent of Deutsche Bank Securities Inc., as representative of the several underwriters, but in no event shall the Common Stock
and the Public Warrants comprising the Units be separately traded until (A) the Company has filed a current report on Form 8-K
with the Commission containing an audited balance sheet reflecting the receipt by the Company of the gross proceeds of the Offering,
including the proceeds received by the Company from the exercise by the underwriters of their right to purchase additional Units
in the Offering (the “Over-allotment Option”), if the Over-allotment Option is exercised prior to the
filing of the Form 8-K, and (B) the Company issues a press release and files with the Commission a current report on
Form 8-K announcing when such separate trading shall begin.

 

2.5 
No Fractional Warrants Other Than as Part of Units. The Company shall not issue fractional Warrants other than as
part of the Units, each of which is comprised of one share of Common Stock and one-third of one Public Warrant. If, upon the detachment
of Public Warrants from Units or otherwise, a holder of Warrants would be entitled to receive a fractional Warrant, the Company
shall round down to the nearest whole number the number of Warrants to be issued to such holder.

 

2.6 
Private Placement Warrants and Working Capital Warrants.

 

The
Private Placement Warrants and Working Capital Warrants shall be identical to the Public Warrants, except that so long as they
are held by the Sponsor, the Anchor Investor or any officers or directors of the Company, or any of their Permitted Transferees
(as defined below), as applicable, the Private Placement Warrants and Working Capital Warrants: (i) may be exercised for cash
or on a cashless basis, pursuant to subsection 3.3.1(c) hereof, (ii) may not be transferred, assigned or sold until thirty (30)
days after the completion by the Company of an initial Business Combination (as defined below), and (iii) shall not be redeemable
by the Company (except as provided in Section 6.2); provided, however, that in the case of (ii), the Private Placement Warrants
and Working Capital Warrants and any shares of Common Stock held by the Sponsor or any officers or directors of the Company, or
any of their Permitted Transferees, and issued upon exercise of the Private Placement Warrants or Working Capital Warrants may
be transferred by the holders thereof:

 

(a) 
to the Company’s officers or directors, any affiliates or family members of any of the Company’s officers or directors,
any affiliate of the Sponsor or the Anchor Investor, or to any member(s) of the Sponsor, the Anchor Investor or any of their
affiliates, officers, directors and direct and indirect equityholders;

 

(b) 
in the case of an individual, by gift to a member of the individual’s immediate family, to a trust, the beneficiary of which
is a member of the individual’s immediate family, or an affiliate of such person, or to a charitable organization;

 

(c)  
in the case of an individual, by virtue of the laws of descent and distribution upon death of such individual;

 

(d) 
in the case of an individual, pursuant to a qualified domestic relations order;

 

(e)  
by private sales or transfers made in connection with the consummation of the Company’s initial Business Combination at
prices no greater than the price at which the Warrants were originally purchased;

 

(f)  
in the event of the Company’s liquidation prior to the completion of the Company’s initial Business Combination;

 

    3

     

    

 

(g)  
by virtue of the laws of the State of Delaware or the Sponsor’s limited liability company agreement upon dissolution of
the Sponsor; or

 

(h)  to
the Anchor Investor’s affiliates, to any investment fund or other entity controlled or managed by the Anchor Investor, or
to any investment manager or investment advisor of the Anchor Investor or any affiliate of any such investment manager or investment
advisor.

 

provided,
however, that, in the case of clauses (a) through (e), (g) or (h), these transferees (the “Permitted Transferees”)
must enter into a written agreement agreeing to be bound by the transfer restrictions in this Agreement.

 

2.7
Working Capital Warrants. Each of the Working Capital Warrants shall be identical to the Private Placement Warrants.

 

2.8
Post-IPO Warrants. The Post-IPO Warrants, when and if issued, shall have the same terms and be in the same form as the
Public Warrants except as may be agreed upon by the Company. 

 

3. 
Terms and Exercise of Warrants.

 

3.1 
Warrant Price. Each Warrant shall, when countersigned by the Warrant Agent (if a physical certificate is issued), entitle
the Registered Holder thereof, subject to the provisions of such Warrant and of this Agreement, to purchase from the Company the
number of shares of Common Stock stated therein, at the price of $11.50 per share, subject to the adjustments provided in Section 4
hereof and in the last sentence of this Section 3.1. The term “Warrant Price” as used in this Agreement
shall mean the price per share at which shares of Common Stock may be purchased at the time a Warrant is exercised. The Company
in its sole discretion may lower the Warrant Price at any time prior to the Expiration Date (as defined below) for a period of
not less than twenty (20) Business Days, provided, that the Company shall provide at least twenty (20) days prior written notice
of such reduction to Registered Holders of the Warrants and, provided further that any such reduction shall be identical among
all of the Warrants.

 

3.2 
Duration of Warrants. A Warrant may be exercised only during the period (the “Exercise Period”)
commencing on the later of: (i) the date that is thirty (30) days after the first date on which the Company completes a merger,
capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination, involving the Company
and one or more businesses (a “Business Combination”), and (ii) the date that is twelve (12) months
from the date of the closing of the Offering, and terminating at 5:00 p.m., New York City time on the earlier to occur of: (w)
the date that is five (5) years after the date on which the Company completes its Business Combination, (x) the liquidation of
the Company in accordance with the Company’s amended and restated certificate of incorporation, as amended from time to
time, if the Company fails to complete a Business Combination, (y) other than with respect to the Private Placement Warrants and
Working Capital Warrants then held by the Sponsor or any officers or directors of the Company, or any of their Permitted Transferees
as provided in Section 6.1, the Redemption Date (as defined below) as provided in Section 6.3 hereof (the “Expiration
Date”) or (z) the Alternative Redemption Date; provided, however, that the exercise of any Warrant shall be subject
to the satisfaction of any applicable conditions, as set forth in subsection 3.3.2 below with respect to an effective registration
statement. Except with respect to the right to receive the Redemption Price (as defined below) or the Alternative Redemption Price
(as defined below), in the event of a redemption (as set forth in Section 6 hereof), each outstanding Warrant (other than
a Private Placement Warrant or a Working Capital Warrant held by the Sponsor or any officers or directors of the Company, or their
Permitted Transferees, in the event of a redemption for cash) not exercised on or before the Expiration Date shall become void,
and all rights thereunder and all rights in respect thereof under this Agreement shall cease at 5:00 p.m. New York City time on
the Expiration Date. The Company in its sole discretion may extend the duration of the Warrants by delaying the Expiration Date;
provided, that the Company shall provide at least twenty (20) days prior written notice of any such extension to Registered Holders
of the Warrants and, provided further that any such extension shall be identical in duration among all the Warrants.

 

 

    4

     

    

 

 

3.3 
Exercise of Warrants.

 

3.3.1 
Payment. Subject to the provisions of the Warrant and this Agreement, a Warrant, when countersigned by the Warrant Agent
(if a physical certificate is issued), may be exercised by the Registered Holder thereof by surrendering it, at the office of
the Warrant Agent, or at the office of its successor as Warrant Agent, in the Borough of Manhattan, City and State of New York,
with the subscription form, as set forth in the Warrant, duly executed, and by paying in full the Warrant Price for each full
share of Common Stock as to which the Warrant is exercised and any and all applicable taxes due in connection with the exercise
of the Warrant, the exchange of the Warrant for the shares of Common Stock and the issuance of such shares of Common Stock, as
follows:

 

(a) 
in lawful money of the United States, in good certified check or good bank draft payable to the Warrant Agent;

 

 (b) 
in the event of a redemption pursuant to Section 6 hereof in which the Company’s board of directors
(the “Board”) has elected to require all holders of the Warrants to exercise such Warrants on a “cashless
basis,” by surrendering the Warrants for that number of shares of Common Stock equal to the quotient obtained by dividing
(x) the product of the number of shares of Common Stock underlying the Warrants, multiplied by the excess of the “Fair
Market Value”, as defined in this subsection 3.3.1(b), over the Warrant Price by (y) the Fair Market
Value. Solely for purposes of this subsection 3.3.1(b), Section 6.2 and Section 6.4,
the “Fair Market Value” shall mean the average last reported sale price of the Common Stock for the ten (10) trading
days ending on the third trading day prior to the date on which the notice of redemption is sent to the holders of the Warrants,
pursuant to Section 6 hereof; 

 

(c) 
with respect to any Private Placement Warrant or Working Capital Warrant, so long as such Private Placement Warrant or Working
Capital Warrant is held by the Sponsor, the Anchor Investor or any officer or director of the Company, or their Permitted Transferees,
by surrendering the Warrants for that number of shares of Common Stock equal to the quotient obtained by dividing (x) the
product of the number of shares of Common Stock underlying the Warrants, multiplied by the excess of the “Fair Market Value”,
as defined in this subsection 3.3.1(c), over the Warrant Price  by (y) the Fair Market Value. Solely for
purposes of this subsection 3.3.1(c), the “Fair Market Value” shall mean the average last reported sale
price of the Common Stock for the ten (10) trading days ending on the third trading day prior to the date on which notice
of exercise of the Private Placement Warrant or Working Capital Warrant is sent to the Warrant Agent; or

 

(d) 
as provided in Section 7.4 hereof.

 

3.3.2 
Issuance of Shares of Common Stock on Exercise. As soon as practicable after the exercise of any Warrant and the clearance
of the funds in payment of the Warrant Price (if payment is pursuant to subsection 3.3.1(a)), the Company shall issue to
the Registered Holder of such Warrant a book-entry position or certificate, as applicable, for the number of full shares of Common
Stock to which he, she or it is entitled, registered in such name or names as may be directed by him, her or it, and if such Warrant
shall not have been exercised in full, a new book-entry position or countersigned Warrant, as applicable, for the number of shares
of Common Stock as to which such Warrant shall not have been exercised. Notwithstanding the foregoing, the Company shall not be
obligated to deliver any shares of Common Stock pursuant to the exercise of a Warrant and shall have no obligation to settle such
Warrant exercise unless a registration statement under the Securities Act with respect to the shares of Common Stock underlying
the Public Warrants is then effective and a prospectus relating thereto is current, subject to the Company’s satisfying
its obligations under Section 7.4. No Warrant shall be exercisable and the Company shall not be obligated to issue
shares of Common Stock upon exercise of a Warrant unless the Common Stock issuable upon such Warrant exercise has been registered,
qualified or deemed to be exempt from registration or qualification under the securities laws of the state of residence of the
Registered Holder of the Warrants. In the event that the conditions in the two immediately preceding sentences are not satisfied
with respect to a Warrant, the holder of such Warrant shall not be entitled to exercise such Warrant and such Warrant may have
no value and expire worthless, in which case the purchaser of a Unit containing such Public Warrants shall have paid the full
purchase price for the Unit solely for the shares of Common Stock underlying such Unit. In no event will the Company be required
to net cash settle the Warrant exercise. The Company may require holders of Public Warrants to settle the Warrant on a “cashless
basis” pursuant to Section 7.4. If, by reason of any exercise of warrants on a “cashless basis”,
the holder of any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share of
Common Stock, the Company shall round down to the nearest whole number, the number of shares of Common Stock to be issued to such
holder.

 

    5

     

    

 

3.3.3 
Valid Issuance. All shares of Common Stock issued upon the proper exercise of a Warrant in conformity with this Agreement
shall be validly issued, fully paid and non-assessable.

 

 

3.3.4 
Date of Issuance. Each person in whose name any book-entry position or certificate, as applicable, for shares of Common
Stock is issued shall for all purposes be deemed to have become the holder of record of such shares of Common Stock on the date
on which the Warrant, or book-entry position representing such Warrant, was surrendered and payment of the Warrant Price was made,
irrespective of the date of delivery of such certificate in the case of a certificated Warrant, except that, if the date of such
surrender and payment is a date when the share transfer books of the Company or book-entry system of the Warrant Agent are closed,
such person shall be deemed to have become the holder of such shares of Common Stock at the close of business on the next succeeding
date on which the share transfer books or book-entry system are open.

 

3.3.5
Maximum Percentage. A holder of a Warrant may notify the Company in writing in the event it elects to be subject to the provisions
contained in this subsection 3.3.5; however, no holder of a Warrant shall be subject to this subsection 3.3.5 unless
he, she or it makes such election. If the election is made by a holder, the Warrant Agent shall not effect the exercise of the
holder’s Warrant, and such holder shall not have the right to exercise such Warrant, to the extent that after giving effect
to such exercise, such person and any of its affiliates or any other person subject to aggregation with such person for purposes
of the “beneficial ownership” test under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), or any “group” (within the meaning of Section 13 of the Exchange Act) of which such person is or may
be deemed to be a part, would beneficially own (within the meaning of Section 13 of the Exchange Act) (or to the extent that for
any reason the equivalent calculation under Section 16 of the Exchange Act and the rules and regulations thereunder would result
in a higher ownership percentage, such higher percentage would be) in excess of 4.8% or 9.8% (as specified by the holder) (the
“Maximum Percentage”) of the shares of Common Stock outstanding immediately after giving effect to such exercise.
For purposes of the foregoing sentence, the aggregate number of shares of Common Stock beneficially owned by such person and its
affiliates or any such other person or group shall include the number of shares of Common Stock issuable upon exercise of the
Warrant with respect to which the determination of such sentence is being made, but shall exclude shares of Common Stock that
would be issuable upon (x) exercise of the remaining, unexercised portion of the Warrant beneficially owned by such person and
its affiliates and (y) exercise or conversion of the unexercised or unconverted portion of any other securities of the Company
beneficially owned by such person and its affiliates (including, without limitation, any convertible notes or convertible preferred
stock or warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein. Except as set
forth in the preceding sentence, for purposes of this paragraph, beneficial ownership shall be calculated in accordance with Section
13(d) of the Exchange Act. For purposes of the Warrant, in determining the number of outstanding shares of Common Stock, the holder
may rely on the number of outstanding shares of Common Stock as reflected in (1) the Company’s most recent annual report
on Form 10-K, quarterly report on Form 10-Q, current report on Form 8-K or other public filing with the Commission as the case
may be, (2) a more recent public announcement by the Company or (3) any other notice by the Company or the Transfer Agent setting
forth the number of shares of Common Stock outstanding. For any reason at any time, upon the written request of the holder of
the Warrant, the Company shall, within two (2) Business Days, confirm orally and in writing to such holder the number of shares
of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving
effect to the conversion or exercise of equity securities of the Company by the holder and its affiliates since the date as of
which such number of outstanding shares of Common Stock was reported. By written notice to the Company, the holder of a Warrant
may from time to time increase or decrease the Maximum Percentage applicable to such holder to any other percentage specified
in such notice; provided, however, that any such increase shall not be effective until the sixty-first (61st) day after such notice
is delivered to the Company.

 

    6

     

    

 

4. 
                                         Adjustments.

 

4.1 
Stock Dividends.

 

4.1.1 
Split-Ups. If after the date hereof, and subject to the provisions of Section 4.6 below, the number of outstanding
shares of Common Stock is increased by a stock dividend payable in shares of Common Stock, or by a split-up of shares of Common
Stock or other similar event, then, on the effective date of such stock dividend, split-up or similar event, the number of shares
of Common Stock issuable on exercise of each Warrant shall be increased in proportion to such increase in the outstanding shares
of Common Stock. A rights offering to holders of the Common Stock entitling holders to purchase shares of Common Stock at a price
less than the “Fair Market Value” (as defined below) shall be deemed a stock dividend of a number of shares of Common
Stock equal to the product of (i) the number of shares of Common Stock actually sold in such rights offering (or issuable
under any other equity securities sold in such rights offering that are convertible into or exercisable for the Common Stock)
multiplied by (ii) one (1) minus the quotient of (x) the price per share of Common Stock paid in such rights offering
divided by (y) the Fair Market Value. For purposes of this subsection 4.1.1, (i) if the rights offering is for
securities convertible into or exercisable for Common Stock, in determining the price payable for Common Stock, there shall be
taken into account any consideration received for such rights, as well as any additional amount payable upon exercise or conversion
and (ii) “Fair Market Value” means the volume weighted average price of the Common Stock as reported during the
ten (10) trading day period ending on the trading day prior to the first date on which the shares of Common Stock trade on
the applicable exchange or in the applicable market, regular way, without the right to receive such rights.

 

4.1.2 
Extraordinary Dividends. If the Company, at any time while the Warrants are outstanding and unexpired, shall pay a dividend
or make a distribution in cash, securities or other assets to the holders of the Common Stock on account of such shares of Common
Stock (or other shares of the Company’s capital stock into which the Warrants are convertible), other than (a) as described
in subsection 4.1.1 above, (b) Ordinary Cash Dividends (as defined below), (c) to satisfy the redemption rights
of the holders of the Common Stock in connection with a proposed initial Business Combination, (d) to satisfy the redemption
rights of the holders of Common Stock in connection with a stockholder vote to amend the Company’s amended and restated
certificate of incorporation to modify the substance or timing of the Company’s obligation to redeem 100% of the shares
of Common Stock included in the Units sold in the Offering if the Company does not complete the Business Combination within the
time period set forth in the Company’s amended and restated certificate of incorporation, or, (e) in connection with
the redemption of the shares of Common Stock included in the Units sold in the Offering upon the failure of the Company to complete
its initial Business Combination and any subsequent distribution of its assets upon its liquidation (any such non-excluded event
being referred to herein as an “Extraordinary Dividend”), then the Warrant Price shall be decreased,
effective immediately after the effective date of such Extraordinary Dividend, by the amount of cash and/or the fair market value
(as determined by the Board, in good faith) of any securities or other assets paid on each share of Common Stock in respect of
such Extraordinary Dividend. For purposes of this subsection 4.1.2, “Ordinary Cash Dividends”
means any cash dividend or cash distribution which, when combined on a per share basis, with the per share amounts of all other
cash dividends and cash distributions paid on the Common Stock during the 365-day period ending on the date of declaration of
such dividend or distribution (as adjusted to appropriately reflect any of the events referred to in other subsections of this
Section 4 and excluding cash dividends or cash distributions that resulted in an adjustment to the Warrant Price or
to the number of shares of Common Stock issuable on exercise of each Warrant) does not exceed $0.50 (being 5% of the offering
price of the Units in the Offering).

 

4.2 
Aggregation of Shares. If after the date hereof, and subject to the provisions of Section 4.6 hereof, the number
of outstanding shares of Common Stock is decreased by a consolidation, combination, reverse stock split or reclassification of
shares of Common Stock or other similar event, then, on the effective date of such consolidation, combination, reverse stock split,
reclassification or similar event, the number of shares of Common Stock issuable on exercise of each Warrant shall be decreased
in proportion to such decrease in outstanding shares of Common Stock.

 

4.3 
Adjustments in Exercise Price.

 

4.3.1
Whenever the number of shares of Common Stock purchasable upon the exercise of the Warrants is adjusted, as provided in subsection
4.1.1 or Section 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant
Price immediately prior to such adjustment by a fraction (x) the numerator of which shall be the number of shares of Common
Stock purchasable upon the exercise of the Warrants immediately prior to such adjustment, and (y) the denominator of which
shall be the number of shares of Common Stock so purchasable immediately thereafter.

 

    7

     

    

 

4.3.2
If the Company issues additional shares of Common Stock or securities convertible into or exercisable or exchangeable for shares
of Common Stock for capital raising purposes in connection with the closing of its initial Business Combination at an issue price
or effective issue price of less than $9.20 per share of Common Stock, with such issue price or effective issue price to be determined
in good faith by the Board (and in the case of any such issuance to the Sponsor or its affiliates, without taking into account
any founder shares held by the Sponsor or such affiliates, as applicable, prior to such issuance)(the “New Issuance
Price”), the Warrant Price shall be adjusted (to the nearest cent) to be equal to 115% of the New Issuance Price.

 

4.4 
Replacement of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding
shares of Common Stock (other than a change under subsections 4.1.1 or 4.1.2 or Section 4.2 hereof or
that solely affects the par value of such shares of Common Stock), or in the case of any merger or consolidation of the Company
with or into another entity or conversion of the Company as another entity (other than a consolidation or merger in which the
Company is the continuing corporation and that does not result in any reclassification or reorganization of the outstanding shares
of Common Stock), or in the case of any sale or conveyance to another corporation or entity of the assets or other property of
the Company as an entirety or substantially as an entirety in connection with which the Company is dissolved, the holders of the
Warrants shall thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in
the Warrants and in lieu of the shares of Common Stock of the Company immediately theretofore purchasable and receivable upon
the exercise of the rights represented thereby, the kind and amount of shares of stock or other securities or property (including
cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such
sale or transfer, that the holder of the Warrants would have received if such holder had exercised his, her or its Warrant(s) immediately
prior to such event (the “Alternative Issuance” ); provided, however, that (i) if
the holders of the Common Stock were entitled to exercise a right of election as to the kind or amount of securities, cash or
other assets receivable upon such consolidation or merger, then the kind and amount of securities, cash or other assets constituting
the Alternative Issuance for which each Warrant shall become exercisable shall be deemed to be the weighted average of the kind
and amount received per share by the holders of the Common Stock in such consolidation or merger that affirmatively make such
election, and (ii) if a tender, exchange or redemption offer shall have been made to and accepted by the holders of the Common
Stock (other than a tender, exchange or redemption offer made by the Company in connection with redemption rights held by stockholders
of the Company as provided for in the Company’s amended and restated certificate of incorporation or as a result of the
repurchase of shares of Common Stock by the Company if a proposed initial Business Combination is presented to the stockholders
of the Company for approval) under circumstances in which, upon completion of such tender or exchange offer, the maker thereof,
together with members of any group (within the meaning of Rule 13d-5(b)(1) under the Exchange Act (or any successor
rule)) of which such maker is a part, and together with any affiliate or associate of such maker (within the meaning of Rule 12b-2
under the Exchange Act (or any successor rule)) and any members of any such group of which any such affiliate or associate is
a part, own beneficially (within the meaning of Rule 13d-3 under the Exchange Act (or any successor rule)) more than 50%
of the outstanding shares of Common Stock, the holder of a Warrant shall be entitled to receive as the Alternative Issuance, the
highest amount of cash, securities or other property to which such holder would actually have been entitled as a stockholder if
such Warrant holder had exercised the Warrant prior to the expiration of such tender or exchange offer, accepted such offer and
all of the Common Stock held by such holder had been purchased pursuant to such tender or exchange offer, subject to adjustments
(from and after the consummation of such tender or exchange offer) as nearly equivalent as possible to the adjustments provided
for in this Section 4; provided, further, that if less than 70% of the consideration receivable by the
holders of the Common Stock in the applicable event is payable in the form of common stock in the successor entity that is listed
for trading on a national securities exchange or is quoted in an established over-the-counter market, or is to be so listed for
trading or quoted immediately following such event, and if the Registered Holder properly exercises the Warrant within thirty
(30) days following the public disclosure of the consummation of such applicable event by the Company pursuant to a Current Report
on Form 8-K filed with the Commission, the Warrant Price shall be reduced by an amount (in dollars) equal to the difference
of (i) the Warrant Price in effect prior to such reduction minus (ii) (A) the Per Share Consideration (as defined
below) (but in no event less than zero) minus (B) the Black-Scholes Warrant Value (as defined below). The “Black-Scholes
Warrant Value” means the value of a Warrant immediately prior to the consummation of the applicable event based
on the Black-Scholes Warrant Model for a Capped American Call on Bloomberg Financial Markets (“Bloomberg”).
For purposes of calculating such amount, (1) Section 6 of this Agreement shall be taken into account, (2) the
price of each share of Common Stock shall be the volume weighted average price of the Common Stock as reported during the ten
(10) trading day period ending on the trading day prior to the effective date of the applicable event, (3) the assumed
volatility shall be the 90 day volatility obtained from the HVT function on Bloomberg determined as of the trading day immediately
prior to the day of the announcement of the applicable event, and (4) the assumed risk-free interest rate shall correspond
to the U.S. Treasury rate for a period equal to the remaining term of the Warrant. “Per Share Consideration”
means (i) if the consideration paid to holders of the Common Stock consists exclusively of cash, the amount of such cash
per share of Common Stock, and (ii) in all other cases, the volume weighted average price of the Common Stock as reported
during the ten (10) trading day period ending on the trading day prior to the effective date of the applicable event. If
any reclassification or reorganization also results in a change in shares of Common Stock covered by subsection 4.1.1,
then such adjustment shall be made pursuant to subsection 4.1.1 or Sections 4.2, 4.3 and this Section 4.4.
The provisions of this Section 4.4 shall similarly apply to successive reclassifications, reorganizations, mergers
or consolidations, sales or other transfers. In no event will the Warrant Price be reduced to less than the par value per share
issuable upon exercise of the Warrant.

 

    8

     

    

 

4.5 
Notices of Changes in Warrant. Upon every adjustment of the Warrant Price or the number of shares of Common Stock issuable
upon exercise of a Warrant, the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant
Price resulting from such adjustment and the increase or decrease, if any, in the number of shares of Common Stock purchasable
at such price upon the exercise of a Warrant, setting forth in reasonable detail the method of calculation and the facts upon
which such calculation is based. Upon the occurrence of any event specified in Sections 4.1, 4.2, 4.3 or
4.4, the Company shall give written notice of the occurrence of such event to each holder of a Warrant, at the last address
set forth for such holder in the Warrant Register, of the record date or the effective date of the event. Failure to give such
notice, or any defect therein, shall not affect the legality or validity of such event.

 

4.6 
No Fractional Shares. Notwithstanding any provision contained in this Agreement to the contrary, the Company shall not
issue fractional shares of Common Stock upon the exercise of Warrants. If, by reason of any adjustment made pursuant to this Section 4,
the holder of any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share, the
Company shall, upon such exercise, round down to the nearest whole number the number of shares of Common Stock to be issued to
such holder.

 

4.7 
Form of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this Section 4,
and Warrants issued after such adjustment may state the same Warrant Price and the same number of shares of Common Stock as is
stated in the Warrants initially issued pursuant to this Agreement; provided, however, that the Company may at any
time in its sole discretion make any change in the form of Warrant that the Company may deem appropriate and that does not affect
the substance thereof, and any Warrant thereafter issued or countersigned, whether in exchange or substitution for an outstanding
Warrant or otherwise, may be in the form as so changed.

 

4.8 
Other Events. In case any event shall occur affecting the Company as to which none of the provisions of the preceding subsections
of this Section 4 are strictly applicable, but which would require an adjustment to the terms of the Warrants in order
to (i) avoid an adverse impact on the Warrants and (ii) effectuate the intent and purpose of this Section 4, then, in each
such case, the Company shall appoint a firm of independent public accountants, investment banking or other appraisal firm of recognized
national standing, which shall give its opinion as to whether or not any adjustment to the rights represented by the Warrants
is necessary to effectuate the intent and purpose of this Section 4 and, if they determine that an adjustment is necessary,
the terms of such adjustment; provided, however, that under no circumstances shall the Warrants be adjusted pursuant to this Section
4.8 (i) as a result of any issuance of securities in connection with a Business Combination or (ii) solely as a result of
an adjustment to the conversion ratio of the Company’s Class B common stock, $0.0001 par value per share, into Common Stock.
The Company shall adjust the terms of the Warrants in a manner that is consistent with any adjustment recommended in such opinion.

 

    9

     

    

 

5. 
Transfer and Exchange of Warrants.

 

5.1 
Registration of Transfer. The Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant
upon the Warrant Register, upon surrender of such Warrant for transfer, in the case of certificated warrants, properly endorsed
with signatures properly guaranteed and accompanied by appropriate instructions for transfer. Upon any such transfer, a new Warrant
representing an equal aggregate number of Warrants shall be issued and the old Warrant shall be cancelled by the Warrant Agent.
In the case of certificated warrants, the Warrants so cancelled shall be delivered by the Warrant Agent to the Company from time
to time upon request.

 

5.2 
Procedure for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, together with a written request
for exchange or transfer, and thereupon the Warrant Agent shall issue in exchange therefor one or more new Warrants as requested
by the Registered Holder of the Warrants so surrendered, representing an equal aggregate number of Warrants; provided, however,
that in the event that a Warrant surrendered for transfer bears a restrictive legend (as in the case of the Private Placement
Warrants and Working Capital Warrants), the Warrant Agent shall not cancel such Warrant and issue new Warrants in exchange thereof
until the Warrant Agent has received an opinion of counsel for the Company stating that such transfer may be made and indicating
whether the new Warrants must also bear a restrictive legend.

 

5.3 
Fractional Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which shall
result in the issuance of a warrant certificate or book-entry position for a fraction of a warrant, except as part of the Units.

 

5.4 
Service Charges. No service charge shall be made for any exchange or registration of transfer of Warrants.

 

5.5 
Warrant Execution and Countersignature. If a physical certificate is issued, the Warrant Agent is hereby authorized to
countersign and to deliver, in accordance with the terms of this Agreement, the Warrants required to be issued, pursuant to the
provisions of this Section 5, and the Company, whenever required by the Warrant Agent, shall supply the Warrant Agent
with Warrants duly executed on behalf of the Company for such purpose.

 

5.6 
Transfer of Warrants. Prior to the Detachment Date, the Public Warrants may be transferred or exchanged only together with
the Unit in which such Warrant is included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange
of such Unit. Furthermore, each transfer of a Unit on the register relating to such Units shall operate also to transfer the Warrants
included in such Unit. Notwithstanding the foregoing, the provisions of this Section 5.6 shall have no effect on any
transfer of Warrants on and after the Detachment Date.

 

6. 
Redemption.

 

6.1 
Redemption of Warrants for Cash. Subject to Sections 6.5 and 6.6 hereof, not less than all of the outstanding Warrants
may be redeemed, at the option of the Company, at any time while they are exercisable and prior to their expiration, at the office
of the Warrant Agent, upon notice to the Registered Holders of the Warrants, as described in Section 6.3 below, at
the price of $0.01 per Warrant (the “Redemption Price”), provided that the last sales price of the Common
Stock reported has been at least $18.00 per share (subject to adjustment in compliance with Section 4 hereof), on
each of twenty (20) trading days within the thirty (30) trading-day period ending on the third Business Day prior to the date
on which notice of the redemption is given and provided that there is an effective registration statement covering the shares
of Common Stock issuable upon exercise of the Warrants, and a current prospectus relating thereto, available throughout the 30-day
Redemption Period (as defined in Section 6.2 below) or the Company has elected to require the exercise of the Warrants
on a “cashless basis” pursuant to subsection 3.3.1.

 

    10

     

    

 

6.2
  Redemption of Warrants for Shares of Common Stock. Subject to Section 6.6
hereof, not less than all of the outstanding Warrants may be redeemed, at the option of the Company, commencing ninety (90)
days after they are first exercisable and prior to their expiration, at the office of the Warrant Agent, upon notice to the Registered
Holders of the Warrants, as described in Section 6.3 below, at a price equal to a number of shares of Common Stock determined
by reference to the table below, based on the redemption date (calculated for purposes of the table as the period to expiration
of the Warrants) and the “Fair Market Value” (as such term is defined in subsection 3.3.1(b)) (the “Alternative
Redemption Price”), provided that the last sales price of the shares of Common Stock reported has been at least $10.00
per share (subject to adjustment in compliance with Section 4 hereof), on the trading day prior to the date on which notice
of the redemption is given and provided that there is an effective registration statement covering the shares of Common Stock
issuable upon exercise of the Warrants, and a current prospectus relating thereto, available throughout the 30-day Redemption
Period (as defined in Section 6.3 below) or the Company has elected to require the exercise of the Warrants on a “cashless
basis” pursuant to subsection 3.3.1, provided that the Private Placement Warrants shall be concurrently exchanged
at the same price (equal to the number of shares of Common Stock) as the Public Warrants.

 

	Redemption
    Date (period to expiration of warrants)	 	Fair
    Market Value of Class A Common Stock
	$10.00	 	$11.00	 	$12.00	 	$13.00	 	$14.00	 	$15.00	 	$16.00	 	$17.00	 	$18.00
	57
    months	 	0.257	 	0.277	 	0.294	 	0.310	 	0.324	 	0.337	 	0.348	 	0.358	 	0.365
	54
    months	 	0.252	 	0.272	 	0.291	 	0.307	 	0.322	 	0.335	 	0.347	 	0.357	 	0.365
	51
    months	 	0.246	 	0.268	 	0.287	 	0.304	 	0.320	 	0.333	 	0.346	 	0.357	 	0.365
	48
    months	 	0.241	 	0.263	 	0.283	 	0.301	 	0.317	 	0.332	 	0.344	 	0.356	 	0.365
	45
    months	 	0.235	 	0.258	 	0.279	 	0.298	 	0.315	 	0.330	 	0.343	 	0.356	 	0.365
	42
    months	 	0.228	 	0.252	 	0.274	 	0.294	 	0.312	 	0.328	 	0.342	 	0.355	 	0.364
	39
    months	 	0.221	 	0.246	 	0.269	 	0.290	 	0.309	 	0.325	 	0.340	 	0.354	 	0.364
	36
    months	 	0.213	 	0.239	 	0.263	 	0.285	 	0.305	 	0.323	 	0.339	 	0.353	 	0.364
	33
    months	 	0.205	 	0.232	 	0.257	 	0.280	 	0.301	 	0.320	 	0.337	 	0.352	 	0.364
	30
    months	 	0.196	 	0.224	 	0.250	 	0.274	 	0.297	 	0.316	 	0.335	 	0.351	 	0.364
	27
    months	 	0.185	 	0.214	 	0.242	 	0.268	 	0.291	 	0.313	 	0.332	 	0.350	 	0.364
	24
    months	 	0.173	 	0.204	 	0.233	 	0.260	 	0.285	 	0.308	 	0.329	 	0.348	 	0.364
	21
    months	 	0.161	 	0.193	 	0.223	 	0.252	 	0.279	 	0.304	 	0.326	 	0.347	 	0.364
	18
    months	 	0.146	 	0.179	 	0.211	 	0.242	 	0.271	 	0.298	 	0.322	 	0.345	 	0.363
	15
    months	 	0.130	 	0.164	 	0.197	 	0.230	 	0.262	 	0.291	 	0.317	 	0.342	 	0.363
	12
    months	 	0.111	 	0.146	 	0.181	 	0.216	 	0.250	 	0.282	 	0.312	 	0.339	 	0.363
	9
    months	 	0.090	 	0.125	 	0.162	 	0.199	 	0.237	 	0.272	 	0.305	 	0.336	 	0.362
	6
    months	 	0.065	 	0.099	 	0.137	 	0.178	 	0.219	 	0.259	 	0.296	 	0.331	 	0.362
	3
    months	 	0.034	 	0.065	 	0.104	 	0.150	 	0.197	 	0.243	 	0.286	 	0.326	 	0.361
	0
    months	 	—	 	—	 	0.042	 	0.115	 	0.179	 	0.233	 	0.281	 	0.323	 	0.361

 

The
exact Fair Market Value and Redemption Date (as defined below) may not be set forth in the table above, in which case, if the
Fair Market Value is between two values in the table or the Redemption Date is between two redemption dates in the table, the
number of shares of Common Stock to be issued for each Warrant redeemed will be determined by a straight-line interpolation between
the number of shares set forth for the higher and lower Fair Market Values and the earlier and later redemption dates, as applicable,
based on a 365- or 366-day year, as applicable.

 

The
stock prices set forth in the column headings of the table above shall be adjusted as of any date on which the number of shares
issuable upon exercise of a Warrant is adjusted pursuant to Section 4. The adjusted stock prices in the column headings
shall equal the stock prices immediately prior to such adjustment, multiplied by a fraction, the numerator of which is the number
of shares deliverable upon exercise of a Warrant immediately prior to such adjustment and the denominator of which is the number
of shares deliverable upon exercise of a Warrant as so adjusted. The number of shares in the table above shall be adjusted in
the same manner and at the same time as the number of shares issuable upon exercise of a Warrant.

 

    11

     

    

 

6.3
Date Fixed for, and Notice of, Redemption. In the event that the Company elects to redeem all of the Warrants pursuant
to Section 6.1, the Company shall fix a date for the redemption (the “Redemption Date”). In the
event that the Company elects to redeem all of the Warrants pursuant to Section 6.2, the Company shall fix a date for redemption
(the “Alternative Redemption Date”). Notice of redemption shall be mailed by first class mail, postage
prepaid, by the Company not less than thirty (30) days prior to the Redemption Date (the “30-day Redemption Period”)
to the Registered Holders of the Warrants to be redeemed at their last addresses as they shall appear on the registration books.
Any notice mailed in the manner herein provided shall be conclusively presumed to have been duly given whether or not the Registered
Holder received such notice.

 

6.4 
Exercise after Notice of Redemption. The Warrants may be exercised, for cash (or on a “cashless basis” in accordance
with subsection 3.3.1(b) of this Agreement) at any time after notice of redemption shall have been given by the Company
pursuant to Section 6.3 hereof and prior to the Redemption Date. In the event that the Company determines to require
all holders of Warrants to exercise their Warrants on a “cashless basis” pursuant to subsection 3.3.1, the
notice of redemption shall contain the information necessary to calculate the number of shares of Common Stock to be received
upon exercise of the Warrants, including the “Fair Market Value” (as such term is defined in subsection 3.3.1(b) hereof)
in such case. On and after the Redemption Date, the record holder of the Warrants shall have no further rights except to receive,
upon surrender of the Warrants, the Redemption Price or the Alternative Redemption Price, as applicable.

 

6.5 
Exclusion of Private Placement Warrants. The Company agrees that the redemption rights provided in Section 6.1 shall
not apply to the Private Placement Warrants, the Working Capital Warrants or the Post-IPO Warrants (if such Post-IPO Warrants
provide that they are non-redeemable by the Company) if at the time of the redemption such Private Placement Warrants, Working
Capital Warrants or Post-IPO Warrants continue to be held by the Sponsor, the Anchor Investor or any officers or directors of
the Company, or any of their Permitted Transferees, as applicable. However, once such Private Placement Warrants, Working Capital
Warrants or Post-IPO Warrants are transferred (other than to Permitted Transferees under Section 2.6), the Company may
redeem the Private Placement Warrants, the Working Capital Warrants or the Post-IPO Warrants pursuant to Section 6.1 hereof,
provided that the criteria for redemption are met, including the opportunity of the holder of such Private Placement Warrants,
Working Capital Warrants or Post-IPO Warrants to exercise the Private Placement Warrants, the Working Capital Warrants or the
Post-IPO Warrants prior to redemption pursuant to Section 6.1. The Private Placement Warrants, the Working Capital Warrants
or the Post-IPO Warrants (if such Post-IPO Warrants provide that they are non-redeemable by the Company) that are transferred
to persons other than Permitted Transferees shall upon such transfer cease to be Private Placement Warrants, Working Capital Warrants
or Post-IPO Warrants and shall become Public Warrants under this Agreement. The restrictions set forth under this Section
6.5 shall not apply to redemptions pursuant to Section 6.2 hereof.

 

6.6.  Public
Warrants Held by the Company’s Officers or Directors. The Company agrees that if Public Warrants are held by any of
the Company’s officers or directors, the Public Warrants held by such officers and directors will be subject to the redemption
rights provided in Section 6.2, except that such officers and directors shall only receive “Fair Market
Value” (“Fair Market Value” in this Section 6.6 shall mean the last reported sale price of the Public
Warrants on the Alternative Redemption Date) for such Public Warrants so redeemed.

 

7. 
Other Provisions Relating to Rights of Holders of Warrants.

 

7.1 
No Rights as Stockholder. A Warrant does not entitle the Registered Holder thereof to any of the rights of a stockholder
of the Company, including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive
rights to vote or to consent or to receive notice as a stockholder in respect of the meetings of stockholders or the election
of directors of the Company or any other matter.

 

7.2 
Lost, Stolen, Mutilated, or Destroyed Warrants. If any Warrant is lost, stolen, mutilated, or destroyed, the Company and
the Warrant Agent may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case
of a mutilated Warrant, include the surrender thereof), issue a new Warrant of like denomination, tenor, and date as the Warrant
so lost, stolen, mutilated, or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company,
whether or not the allegedly lost, stolen, mutilated, or destroyed Warrant shall be at any time enforceable by anyone.

 

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7.3 
Reservation of Common Stock. The Company shall at all times reserve and keep available a number of its authorized but unissued
shares of Common Stock that shall be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to
this Agreement.

 

7.4 
Registration of Common Stock; Cashless Exercise at Company’s Option.

 

7.4.1 
Registration of the Common Stock. The Company agrees that as soon as practicable, but in no event later than fifteen (15)
Business Days after the closing of its initial Business Combination, it shall use its reasonable best efforts to file with the
Commission a registration statement for the registration, under the Securities Act, of the shares of Common Stock issuable upon
exercise of the Warrants. The Company shall use its reasonable best efforts to cause the same to become effective and to maintain
the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration of the Warrants
in accordance with the provisions of this Agreement. If any such registration statement has not been declared effective by the
60th Business Day following the closing of the Business Combination, holders of the Warrants shall have the right, during the
period beginning on the 61st Business Day after the closing of the Business Combination and ending upon such registration statement
being declared effective by the Commission, and during any other period when the Company shall fail to have maintained an effective
registration statement covering the shares of Common Stock issuable upon exercise of the Warrants, to exercise such Warrants on
a “cashless basis,” by exchanging the Warrants (in accordance with Section 3(a)(9) of the Securities Act
(or any successor rule) or another exemption) for that number of shares of Common Stock equal to the quotient obtained by dividing
(x) the product of the number of shares of Common Stock underlying the Warrants, multiplied by the excess of the “Fair
Market Value” (as defined below) over the Warrant Price by (y) the Fair Market Value. Solely for purposes of this subsection
7.4.1, “Fair Market Value” shall mean the volume weighted average price of the Common Stock as reported during
the ten (10) trading day period ending on the trading day prior to the date that notice of exercise is received by the Warrant
Agent from the holder of such Warrants or its securities broker or intermediary. The date that notice of cashless exercise is
received by the Warrant Agent shall be conclusively determined by the Warrant Agent. In connection with the “cashless exercise”
of a Public Warrant, the Company shall, upon request, provide the Warrant Agent with an opinion of counsel for the Company (which
shall be an outside law firm with securities law experience) stating that (i) the exercise of the Warrants on a cashless
basis in accordance with this subsection 7.4.1 is not required to be registered under the Securities Act and (ii) the
shares of Common Stock issued upon such exercise shall be freely tradable under United States federal securities laws by anyone
who is not an affiliate (as such term is defined in Rule 144 under the Securities Act (or any successor rule)) of the Company
and, accordingly, shall not be required to bear a restrictive legend. Except as provided in subsection 7.4.2, for the avoidance
of any doubt, unless and until all of the Warrants have been exercised, the Company shall continue to be obligated to comply with
its registration obligations under the first three sentences of this subsection 7.4.1.

 

7.4.2 
Cashless Exercise at Company’s Option. If the Common Stock is at the time of any exercise of a Warrant not listed
on a national securities exchange such that it satisfies the definition of a “covered security” under Section 18(b)(1) of
the Securities Act (or any successor rule), the Company may, at its option, (i) require holders of Public Warrants who exercise
Public Warrants to exercise such Public Warrants on a “cashless basis” in accordance with Section 3(a)(9) of
the Securities Act (or any successor rule) as described in subsection 7.4.1 and (ii) in the event the Company so elects,
the Company shall not be required to file or maintain in effect a registration statement for the registration, under the
Securities Act, of the Common Stock issuable upon exercise of the Warrants, notwithstanding anything in this Agreement to the
contrary. If the Company does not elect at the time of exercise to require a holder of Public Warrants who exercises Public Warrants
to exercise such Public Warrants on a “cashless basis,” it agrees to use its best efforts to register or qualify for
sale the Common Stock issuable upon exercise of the Public Warrant under the blue sky laws of the state of residence in those
states in which the Public Warrants were initially offered by the Company of the exercising Public Warrant holder to the extent
an exemption is not available.

 

    13

     

    

 

8. 
                                         Concerning the Warrant Agent and Other Matters.

 

8.1 
Payment of Taxes. The Company shall from time to time promptly pay all taxes and charges that may be imposed upon the Company
or the Warrant Agent in respect of the issuance or delivery of shares of Common Stock upon the exercise of the Warrants, but the
Company shall not be obligated to pay any transfer taxes in respect of the Warrants or such shares of Common Stock.

 

8.2 
Resignation, Consolidation, or Merger of Warrant Agent.

 

8.2.1 
Appointment of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its duties
and be discharged from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the
Company. If the office of the Warrant Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall
appoint in writing a successor Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment
within a period of thirty (30) days after it has been notified in writing of such resignation or incapacity by the Warrant Agent
or by the holder of a Warrant (who shall, with such notice, submit his, her or its Warrant for inspection by the Company), then
the holder of any Warrant may apply to the Supreme Court of the State of New York for the County of New York for the appointment
of a successor Warrant Agent at the Company’s cost. Any successor Warrant Agent, whether appointed by the Company or by
such court, shall be a corporation organized and existing under the laws of the State of New York, in good standing and having
its principal office in the Borough of Manhattan, City and State of New York, and authorized under such laws to exercise corporate
trust powers and subject to supervision or examination by federal or state authority. After appointment, any successor Warrant
Agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations of its predecessor Warrant Agent
with like effect as if originally named as Warrant Agent hereunder, without any further act or deed; but if for any reason it
becomes necessary or appropriate, the predecessor Warrant Agent shall execute and deliver, at the expense of the Company, an instrument
transferring to such successor Warrant Agent all the authority, powers, and rights of such predecessor Warrant Agent hereunder;
and upon request of any successor Warrant Agent the Company shall make, execute, acknowledge, and deliver any and all instruments
in writing for more fully and effectually vesting in and confirming to such successor Warrant Agent all such authority, powers,
rights, immunities, duties, and obligations.

 

8.2.2 
Notice of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give notice
thereof to the predecessor Warrant Agent and the Transfer Agent for the Common Stock not later than the effective date of any
such appointment.

 

8.2.3 
Merger or Consolidation of Warrant Agent. Any corporation into which the Warrant Agent may be merged or with which it may
be consolidated or any corporation resulting from any merger or consolidation to which the Warrant Agent shall be a party shall
be the successor Warrant Agent under this Agreement without any further act.

 

8.3 
Fees and Expenses of Warrant Agent.

 

8.3.1 
Remuneration. The Company agrees to pay the Warrant Agent reasonable remuneration for its services as such Warrant Agent
hereunder and shall, pursuant to its obligations under this Agreement, reimburse the Warrant Agent upon demand for all expenditures
that the Warrant Agent may reasonably incur in the execution of its duties hereunder.

 

8.3.2 
Further Assurances. The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed,
acknowledged, and delivered all such further and other acts, instruments, and assurances as may reasonably be required by the
Warrant Agent for the carrying out or performing of the provisions of this Agreement.

 

8.4 
Liability of Warrant Agent.

 

8.4.1 
Reliance on Company Statement. Whenever in the performance of its duties under this Agreement, the Warrant Agent shall
deem it necessary or desirable that any fact or matter be proved or established by the Company prior to taking or suffering any
action hereunder, such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed
to be conclusively proved and established by a statement signed by the Chief Executive Officer, Chief Financial Officer, Secretary
or Chairman of the Board of the Company and delivered to the Warrant Agent. The Warrant Agent may rely upon such statement for
any action taken or suffered in good faith by it pursuant to the provisions of this Agreement.

 

8.4.2 
Indemnity. The Warrant Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith.
The Company agrees to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, costs
and reasonable counsel fees, for anything done or omitted by the Warrant Agent in the execution of this Agreement, except as a
result of the Warrant Agent’s gross negligence, willful misconduct or bad faith.

 

    14

     

    

 

8.4.3 
Exclusions. The Warrant Agent shall have no responsibility with respect to the validity of this Agreement or with respect
to the validity or execution of any Warrant (except its countersignature thereof). The Warrant Agent shall not be responsible
for any breach by the Company of any covenant or condition contained in this Agreement or in any Warrant. The Warrant Agent shall
not be responsible to make any adjustments required under the provisions of Section 4 hereof or responsible for the
manner, method, or amount of any such adjustment or the ascertaining of the existence of facts that would require any such adjustment;
nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization or reservation of any
shares of Common Stock to be issued pursuant to this Agreement or any Warrant or as to whether any shares of Common Stock shall,
when issued, be valid and fully paid and non-assessable.

 

8.5 
Acceptance of Agency. The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the
same upon the terms and conditions herein set forth and among other things, shall account promptly to the Company with respect
to Warrants exercised and concurrently account for, and pay to the Company, all monies received by the Warrant Agent for the purchase
of shares of Common Stock through the exercise of the Warrants.

 

8.6 
Waiver. The Warrant Agent has no right of set-off or any other right, title, interest or claim of any kind (“Claim”)
in, or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of
the date hereof, by and between the Company and the Warrant Agent as trustee thereunder) and hereby agrees not to seek recourse,
reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever. The Warrant Agent hereby
waives any and all Claims against the Trust Account and any and all rights to seek access to the Trust Account.

 

9. 
Miscellaneous Provisions.

 

9.1 
Successors. All the covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent
shall bind and inure to the benefit of their respective successors and assigns.

 

9.2 
Notices. Any notice, statement or demand authorized by this Agreement to be given or made by the Warrant Agent or by the
holder of any Warrant to or on the Company shall be sufficiently given when so delivered if by hand or overnight delivery or if
sent by certified mail or private courier service within five (5) days after deposit of such notice, postage prepaid, addressed
(until another address is filed in writing by the Company with the Warrant Agent), as follows:

 

DiamondPeak
Holdings Corp.

40
W 57th Street

29th
Floor

New
York, New York 10019

Attn.:
David T. Hamamoto

Chief Executive Officer

 

Any
notice, statement or demand authorized by this Agreement to be given or made by the holder of any Warrant or by the Company to
or on the Warrant Agent shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified
mail or private courier service within five (5) days after deposit of such notice, postage prepaid, addressed (until another
address is filed in writing by the Warrant Agent with the Company), as follows:

 

    15

     

    

 

American
Stock Transfer & Trust Company, LLC

6201 15th Avenue

Brooklyn,
NY 11219

Attention: AST Shareholder Services

 

9.3 
Applicable Law. The validity, interpretation, and performance of this Agreement and of the Warrants shall be governed in
all respects by the laws of the State of New York, without giving effect to conflicts of law principles that would result in the
application of the substantive laws of another jurisdiction. The Company hereby agrees that any action, proceeding or claim against
it arising out of or relating in any way to this Agreement shall be brought and enforced in the courts of the State of New York
or the United States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which
jurisdiction shall be exclusive. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent
an inconvenient forum.

 

9.4 
Persons Having Rights under this Agreement. Nothing in this Agreement shall be construed to confer upon, or give to, any
person or corporation other than the parties hereto and the Registered Holders of the Warrants any right, remedy, or claim under
or by reason of this Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. All covenants, conditions,
stipulations, promises, and agreements contained in this Agreement shall be for the sole and exclusive benefit of the parties
hereto and their successors and assigns and of the Registered Holders of the Warrants.

 

9.5 
Examination of the Warrant Agreement. A copy of this Agreement shall be available at all reasonable times at the office
of the Warrant Agent in the Borough of Manhattan, City and State of New York, for inspection by the Registered Holder of any Warrant.
The Warrant Agent may require any such holder to submit such holder’s Warrant for inspection by the Warrant Agent.

 

9.6 
Counterparts. This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts
shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

9.7 
Effect of Headings. The section headings herein are for convenience only and are not part of this Agreement and shall not
affect the interpretation thereof.

 

9.8 
Amendments. This Agreement may be amended by the parties hereto without the consent of any Registered Holder for the purpose
of curing any ambiguity, or curing, correcting or supplementing any defective provision contained herein or adding or changing
any other provisions with respect to matters or questions arising under this Agreement as the parties may deem necessary or desirable
and that the parties deem shall not adversely affect the interest of the Registered Holders. All other modifications or amendments,
including any amendment to increase the Warrant Price or shorten the Exercise Period and any amendment to the terms of only the
Private Placement Warrants or the Working Capital Warrants, shall require the vote or written consent of the Registered Holders
of 50% of the then-outstanding Public Warrants and, solely with respect to any amendment to the terms of the Private Placement
Warrants or any provision of this Agreement with respect to the Private Placement Warrants, 50% of the number of the then outstanding
Private Placement Warrants. Notwithstanding the foregoing, the Company may lower the Warrant Price or extend the duration of the
Exercise Period pursuant to Sections 3.1 and 3.2, respectively, without the consent of the Registered Holders.

 

9.9 
Severability. This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision
hereof shall not affect the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore,
in lieu of any such invalid or unenforceable term or provision,

 

the
parties hereto intend that there shall be added as a part of this Agreement a provision as similar in terms to such invalid or
unenforceable provision as may be possible and be valid and enforceable.

 

Exhibit A
Form of Warrant Certificate

 

Exhibit B
Legend — Private Placement Warrants

 

    16

     

    

 

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

 

	 	DIAMONDPEAK HOLDINGS CORP. 
	 	 
	 	By:	                                     
	 	Name:	 
	 	Title:	 
	 	 
	 	AMERICAN STOCK TRANSFER &
	 	TRUST COMPANY, LLC as Warrant Agent
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

[Signature
Page to Warrant Agreement]

 

    17

     

    

 

EXHIBIT A

 

[Form of
Warrant Certificate]

 

[FACE]

 

Number

 

Warrants

 

THIS
WARRANT SHALL BE VOID IF NOT EXERCISED PRIOR TO

THE EXPIRATION OF THE EXERCISE PERIOD PROVIDED FOR

IN THE WARRANT AGREEMENT DESCRIBED BELOW

 

DIAMONDPEAK
HOLDINGS CORP.

Incorporated Under the Laws of the State of Delaware

 

CUSIP
25280H118

 

Warrant
Certificate

 

This
Warrant Certificate certifies that                                           ,
or registered assigns, is the registered holder of                      
warrant(s) evidenced hereby (the “Warrants” and each, a “Warrant”) to
purchase shares of Class A common stock, $0.0001 par value per share (“Common Stock”), of DiamondPeak
Holdings Corp., a Delaware corporation (the “Company”).  Each Warrant entitles the holder, upon
exercise during the period set forth in the Warrant Agreement referred to below, to receive from the Company that number of fully
paid and non-assessable shares of Common Stock as set forth below, at the exercise price (the “Exercise Price”)
as determined pursuant to the Warrant Agreement, payable in lawful money (or through “cashless exercise”
as provided for in the Warrant Agreement) of the United States of America upon surrender of this Warrant Certificate and payment
of the Exercise Price at the office or agency of the Warrant Agent referred to below, subject to the conditions set forth herein
and in the Warrant Agreement.  Defined terms used in this Warrant Certificate but not defined herein shall have the meanings
given to them in the Warrant Agreement.

 

Each
whole Warrant is initially exercisable for one fully paid and non-assessable share of Common Stock.  No fractional shares
will be issued upon exercise of any Warrant. If, upon the exercise of Warrant, a holder would be entitled to receive a fractional
interest in a share, the Company will, upon exercise, round down to the nearest whole number of the number of shares of Common
Stock to be issued to the holder. The number of shares of Common Stock issuable upon exercise of the Warrants is subject to adjustment
upon the occurrence of certain events set forth in the Warrant Agreement.

 

The
initial Exercise Price per share of Common Stock for any Warrant is equal to $11.50 per share.  The Exercise Price is subject
to adjustment upon the occurrence of certain events set forth in the Warrant Agreement.

 

Subject
to the conditions set forth in the Warrant Agreement, the Warrants may be exercised only during the Exercise Period and to the
extent not exercised by the end of such Exercise Period, such Warrants shall become void.

 

Reference
is hereby made to the further provisions of this Warrant Certificate set forth on the reverse hereof and such further provisions
shall for all purposes have the same effect as though fully set forth at this place.

 

This
Warrant Certificate shall not be valid unless countersigned by the Warrant Agent, as such term is used in the Warrant Agreement.

 

This
Warrant Certificate shall be governed by and construed in accordance with the internal laws of the State of New York, without
regard to conflicts of laws principles thereof.

 

    A-1

     

    

 

	 	DIAMONDPEAK HOLDINGS CORP.
	 	 
	 	By:	                             
	 	Name:	 
	 	Title:	 
	 	 
	 	AMERICAN STOCK TRANSFER
	 	& TRUST COMPANY, LLC as Warrant
    Agent
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    A-2

     

    

 

[Form of
Warrant Certificate]

 

[Reverse]

 

The
Warrants evidenced by this Warrant Certificate are part of a duly authorized issue of Warrants entitling the holder on exercise
to receive shares of Common Stock
and are issued or to be issued pursuant to a Warrant Agreement dated as of                              ,
2019 (the “Warrant Agreement”), duly executed and delivered by the Company to American Stock Transfer &
Trust Company, LLC, a New York limited liability trust company, as warrant agent (the “Warrant Agent”),
which Warrant Agreement is hereby incorporated by reference in and made a part of this instrument and is hereby referred to for
a description of the rights, limitation of rights, obligations, duties and immunities thereunder of the Warrant Agent, the Company
and the holders (the words “holders” or “holder” meaning the Registered Holders
or Registered Holder) of the Warrants.  A copy of the Warrant Agreement may be obtained by the holder hereof upon written
request to the Company.  Defined terms used in this Warrant Certificate but not defined herein shall have the meanings given
to them in the Warrant Agreement.

 

Warrants
may be exercised at any time during the Exercise Period set forth in the Warrant Agreement.  The holder of Warrants evidenced
by this Warrant Certificate may exercise them by surrendering this Warrant Certificate, with the form of election to purchase
set forth hereon properly completed and executed, together with payment of the Exercise Price as specified in the Warrant Agreement
(or through “cashless exercise” as provided for in the Warrant Agreement) at the principal corporate trust office
of the Warrant Agent.  In the event that upon any exercise of Warrants evidenced hereby the number of Warrants exercised
shall be less than the total number of Warrants evidenced hereby, there shall be issued to the holder hereof or his, her or its
assignee, a new Warrant Certificate evidencing the number of Warrants not exercised.

 

Notwithstanding
anything else in this Warrant Certificate or the Warrant Agreement, no Warrant may be exercised unless at the time of exercise
(i) a registration statement covering the shares of Common Stock to be issued upon exercise is effective under the Securities
Act and (ii) a prospectus thereunder relating to the shares of Common Stock is current, except through “cashless exercise”
as provided for in the Warrant Agreement.

 

The
Warrant Agreement provides that upon the occurrence of certain events the number of shares of Common Stock issuable upon exercise
of the Warrants set forth on the face hereof may, subject to certain conditions, be adjusted.  If, upon exercise of a Warrant,
the holder thereof would be entitled to receive a fractional interest in a share of Common Stock, the Company shall, upon exercise,
round down to the nearest whole number of shares of Common Stock to be issued to the holder of the Warrant.

 

Warrant
Certificates, when surrendered at the principal corporate trust office of the Warrant Agent by the Registered Holder thereof in
person or by legal representative or attorney duly authorized in writing, may be exchanged, in the manner and subject to the limitations
provided in the Warrant Agreement, but without payment of any service charge, for another Warrant Certificate or Warrant Certificates
of like tenor evidencing in the aggregate a like number of Warrants.

 

Upon
due presentation for registration of transfer of this Warrant Certificate at the office of the Warrant Agent a new Warrant Certificate
or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s) in
exchange for this Warrant Certificate, subject to the limitations provided in the Warrant Agreement, without charge except for
any tax or other governmental charge imposed in connection therewith.

 

The
Company and the Warrant Agent may deem and treat the Registered Holder(s) hereof as the absolute owner(s) of this Warrant
Certificate (notwithstanding any notation of ownership or other writing hereon made by anyone), for the purpose of any exercise
hereof, of any distribution to the holder(s) hereof, and for all other purposes, and neither the Company nor the Warrant
Agent shall be affected by any notice to the contrary.  Neither the Warrants nor this Warrant Certificate entitles any holder
hereof to any rights of a stockholder of the Company.

 

    A-3

     

    

 

Election
to Purchase

 

(To
Be Executed Upon Exercise of Warrant)

 

The
undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, to receive                    
shares of Common Stock and herewith tenders payment for such shares of Common Stock to the order of DiamondPeak Holdings Corp.
(the “Company”) in the amount of $  in accordance
with the terms hereof.  The undersigned requests that a certificate for such shares of Common Stock be registered in the
name of                            , whose address is                    and that
such shares of Common Stock be delivered to     
whose address is                  .  If said number
of shares of Common Stock is less than all of the shares of Common Stock purchasable hereunder, the undersigned requests that
a new Warrant Certificate representing the remaining balance of such shares of Common Stock be registered in the name of                         ,
whose address is                         and that such
Warrant Certificate be delivered to                          ,
whose address is                    .

 

In
the event that the Warrant has been called for redemption by the Company pursuant to Section 6.1 or 6.2 of
the Warrant Agreement and the Company has required cashless exercise pursuant to Section 6.4 of the Warrant
Agreement, the number of shares of Common Stock that this Warrant is exercisable for shall be determined in accordance with subsection
3.3.1(b) and Section 6.4 of the Warrant Agreement.

 

In
the event that the Warrant is a Private Placement Warrant or a Working Capital Warrant that is to be exercised on a “cashless”
basis pursuant to subsection 3.3.1(c) of the Warrant Agreement, the number of shares of Common Stock that this
Warrant is exercisable for shall be determined in accordance with subsection 3.3.1(c) of the Warrant Agreement. 

 

In
the event that the Warrant is to be exercised on a “cashless” basis pursuant to Section 7.4 of the Warrant
Agreement, the number of shares of Common Stock that this Warrant is exercisable for shall be determined in accordance with Section 7.4
of the Warrant Agreement.

 

In
the event that the Warrant may be exercised, to the extent allowed by the Warrant Agreement, through cashless exercise (i) the
number of shares of Common Stock that this Warrant is exercisable for would be determined in accordance with the relevant section
of the Warrant Agreement which allows for such cashless exercise and (ii) the holder hereof shall complete the following:
The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, through the cashless
exercise provisions of the Warrant Agreement, to receive shares of Common Stock.  If said number of shares is less than all
of the shares of Common Stock purchasable hereunder (after giving effect to the cashless exercise), the undersigned requests that
a new Warrant Certificate representing the remaining balance of such shares of Common Stock be registered in the name of                        ,
whose address is  and that such
Warrant Certificate be delivered to                        ,
whose address is.

 

[Signature
Page Follows]

 

    A-4

     

    

 

	Date:  
    , 20	 
	 	(Signature)
	 	 
	 	 
	 	 
	 	 
	 	(Address)
	 	 
	 	 
	 	(Tax Identification Number)

 

Signature
Guaranteed:

 

	 	 	 

 

THE
SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS
AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15 (OR ANY
SUCCESSOR RULE)).

 

    A-5

     

    

 

EXHIBIT B

 

PRIVATE
PLACEMENT WARRANTS LEGEND

 

“THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE
SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, AND ANY APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION,
SUBJECT TO ANY ADDITIONAL LIMITATIONS ON TRANSFER DESCRIBED IN THE LETTER AGREEMENT BY AND AMONG DIAMONDPEAK HOLDINGS CORP. (THE
“COMPANY”), DIAMONDPEAK SPONSOR LLC AND THE OTHER PARTIES THERETO, THE SECURITIES REPRESENTED BY THIS CERTIFICATE
MAY NOT BE SOLD OR TRANSFERRED PRIOR TO THE DATE THAT IS THIRTY (30) DAYS AFTER THE DATE UPON WHICH THE COMPANY COMPLETES
ITS INITIAL BUSINESS COMBINATION (AS DEFINED IN SECTION 3 OF THE WARRANT AGREEMENT REFERRED TO HEREIN) EXCEPT TO A PERMITTED
TRANSFEREE (AS DEFINED IN SECTION 2 OF THE WARRANT AGREEMENT) WHO AGREES IN WRITING WITH THE COMPANY TO BE SUBJECT TO SUCH
TRANSFER PROVISIONS.

 

SECURITIES
EVIDENCED BY THIS CERTIFICATE AND SHARES OF CLASS A COMMON STOCK OF THE COMPANY ISSUED UPON EXERCISE OF SUCH SECURITIES SHALL
BE ENTITLED TO REGISTRATION RIGHTS UNDER A REGISTRATION RIGHTS AGREEMENT TO BE EXECUTED BY THE COMPANY.”

 

No. 
      Warrants

 

    B-1

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