Document:

EX-4.9

 Exhibit 4.9 

FORM OF WARRANT ASSIGNMENT, ASSUMPTION AND AMENDED & RESTATED AGREEMENT 

This Assignment, Assumption and Amended & Restated Warrant Agreement (“Warrant Agreement”) is made as of [●],
2021 (the “Effective Date”) by and between Valens Semiconductor Ltd., a limited liability company organized under the laws of the State of Israel (the “Company”), PTK Acquisition Corp., a Delaware corporation
(“PTK”), and Continental Stock Transfer & Trust Company (the “Warrant Agent”). 
 WHEREAS,
PTK and the Warrant Agent are parties to that certain Warrant Agreement, dated as of July 13, 2020 (the “Existing Warrant Agreement”); 

WHEREAS, PTK issued [18,900,000] warrants as part of its initial public offering (the “Public Offering”), including
[11,500,000] sold by PTK to the public (“Public Warrants”) and [7,400,000] warrants (“Private Warrants”) sold by PTK to PTK Holdings LLC (the “Sponsor”), in each case, upon the terms and conditions
set forth in the Existing Warrant Agreement; 
 WHEREAS, on May 25, 2021, the Company, Valens Merger Sub, Inc., a Delaware
corporation and a direct, wholly-owned subsidiary of the Company (“Merger Sub”), and PTK have entered into that certain Business Combination Agreement (the “Business Combination Agreement”); 

WHEREAS, upon the terms and subject to the conditions of the Business Combination Agreement, on the Effective Date, Merger Sub will
merge with and into PTK (the “Merger”), with PTK continuing as the surviving company after the Merger, as a result of which, PTK will become a direct, wholly-owned subsidiary of the Company; 

WHEREAS, upon consummation of the Merger, as provided in Section 4.5 of the Existing Warrant Agreement, (i) each Public
Warrant and Private Warrant issued thereunder will no longer be exercisable for one half (1/2) of a share of common stock, $0.0001 par value per share, of PTK, but instead will be exercisable (subject to the terms and conditions of the Existing
Warrant Agreement as amended hereby) for one half (1/2) of an ordinary share, par value NIS 0.01 per share, of the Company (the “Ordinary Shares”) subject to adjustment as described herein (such warrants as so adjusted and amended,
the “Warrants”) and (ii) the Warrants shall be assumed by the Company; 
 WHEREAS, in connection with the
transactions contemplated by the Merger Agreement, PTK desires to assign to the Company, and the Company’s desires to assume, all of PTK’s rights, interests and obligations under the Existing Warrant Agreement; 

 WHEREAS, the consummation of the transactions contemplated by the Business
Combination Agreement will constitute an initial Business Combination (as such term is used in the Existing Warrant Agreement); 

WHEREAS, Section 9.8 of the Existing Warrant Agreement provides that PTK and the Warrant Agent may amend the Existing Warrant
Agreement without the consent of any Warrant Holders, among other things, (i) for the purpose of curing, correcting or supplementing any defective provision contained therein, (ii) for purposes of evidencing the succession of another
corporation to PTK and the assumption by any such successor of the covenants of PTK contained in the Existing Warrant Agreement and the warrants issued thereunder and (iii) in any manner that PTK may deem to be necessary or desirable and that
will not adversely affect the interests of the Registered Holders (as defined in the Existing Warrant Agreement) in any material respect; 

WHEREAS, in accordance with Section 9.8 of the Existing Warrant Agreement, PTK and the Warrant Agent agree to amend and restate
the Existing Warrant Agreement in its entirety as contemplated hereunder; 
 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, terms and provisions of the Warrants, including 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, as provided herein, the legally valid and binding obligations of the Company, and to authorize the execution and delivery of this Warrant Agreement. 

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

 

	1.	 Appointment of Warrant Agent; Assignment and Assumption; Amendment. 

 

	1.1.	 The Company hereby confirms the appointment of 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 Warrant Agreement. 

 

	1.2.	 PTK hereby assigns to the Company all of PTK’s right, title and interest in and to the Existing Warrant
Agreement and the Warrants (each as amended hereby) as of the Effective Time. The Company hereby assumes, and agrees to pay, perform, satisfy and discharge in full, as the same become due, all of PTK’s liabilities and obligations under the
Existing Warrant Agreement and the Warrants (each as amended hereby) arising from and after the Effective Time (as defined in the Business Combination Agreement). 

  
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	1.3.	 PTK and the Warrant Agent hereby amend the Existing Warrant Agreement, and the Warrants issued thereunder, in
its entirety in the form of this Agreement as of immediately after the “Effective Time” (as defined in the Business Combination Agreement). 

  

	2.	 Warrants. 

  

	2.1.	 Form of Warrant. Each Public Warrant shall be: (a) issued in registered form only, (b) in
substantially the form of Exhibit A hereto, the provisions of which are incorporated herein and (c) signed by, or bear the facsimile signature of, either the Chairman of the Company’s board of directors (the
“Board”), the Chief Executive Officer or the Chief Financial 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. 

  

	2.2.	 Effect of Countersignature. Unless and until countersigned by the Warrant Agent pursuant to this Warrant
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 the original issuance and transfers of the Warrants. Upon the initial issuance of the Warrants, 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. 

  

	 	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 shall be registered upon the Warrant Register (“Registered Holder”) as the absolute owner of such Warrant and of each Warrant represented thereby
(notwithstanding any notation of ownership or other writing on the Warrant 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. 

  

	2.4.	 [Reserved] 

  

	2.5.	 Private Warrants. The Private Warrants will be issued substantially in the form of Exhibit A
hereto and be subject to the terms hereof, except that (i) they will be exercisable on a cashless basis at the holder’s option pursuant to Section 3.3 hereof at any time and (ii) they will not be redeemable at any time

  
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	3.	 Terms and Exercise of Warrants. 

 

	3.1.	 Warrant Price. Each Warrant shall entitle the Registered Holder thereof, subject to the provisions of
such Warrant and of this Warrant Agreement, to purchase from the Company one half (1/2) of an Ordinary Share at $11.50 per whole share, subject to the adjustments provided in Section 4 hereof. The term “Warrant
Price” as used in this Warrant Agreement refers to the price per whole share at which Ordinary Shares may be purchased at the time such Warrant is exercised. The Public Warrants may only be exercised for a whole number of Ordinary Shares by
a Registered Holder. No fractional shares will be issued. 

  

	3.2.	 Duration of Warrants. A Warrant may be exercised only during the period (“Exercise
Period”) commencing on the later to occur of (i) the Effective Time and (ii) twelve (12) months following the closing of the Public Offering, and terminating at 5:00 p.m., New York City time, on the earlier to occur of
(i) five (5) years following the Effective Time and (ii) the date fixed for redemption of the Warrants as provided in Section 6 of this Warrant Agreement (“Expiration Date”). Except with respect
to the right to receive the Redemption Price (as set forth in Section 6 hereunder), each Warrant not exercised on or before the Expiration Date shall become void, and all rights thereunder and all rights in respect thereof
under this Warrant Agreement shall cease at the close of business on the Expiration Date. The Company may extend the duration of the Warrants by delaying the Expiration Date; provided, however, that the Company will provide written
notice of not less than twenty (20) days to Registered Holders of such extension and that such extension shall be identical in duration among all of the then outstanding Warrants. 

 

	3.3.	 Exercise of Warrants. 

 

	 	3.3.1.	 Cash Exercise. Subject to the provisions of the Warrant and this Warrant Agreement, a Warrant, when
countersigned by the Company, 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, currently being: 

Continental Stock Transfer & Trust Company 

1 State Street, 30th Floor 
 New
York, New York 10004 
 with the subscription form, as set forth in the Warrant, duly executed, and by paying in full, in lawful money of
the United States, by certified or bank cashier’s check payable to the order of the Warrant Agent or by wire transfer to the Warrant Agent’s JPMorgan bank account, the Warrant Price for each whole Ordinary Share as to which the Warrant is
exercised and any and all applicable taxes due in connection with the exercise of the Warrant, the 

  
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exchange of the Warrant for the Ordinary Shares, and the issuance of the Ordinary Shares (such exercise, a “Cash Exercise”). A Cash Exercise in accordance with this
Section 3.3.1 is available to the Registered Holder only during such times that there is an effective registration statement registering the Ordinary Shares, with the prospectus contained therein being available for the
resale of the Ordinary Shares. 
  

	 	3.3.2.	 Cashless Exercise. Notwithstanding anything contained herein to the contrary, if there is no effective
registration statement registering the Ordinary Shares on any day the Registered Holder desires to exercise the Warrants and more than 90 days have passed since the Effective Date, the Registered Holder may exercise the Warrants in whole or in part
in lieu of making a cash payment for whole numbers Ordinary Shares, by providing notice to the Chief Financial Officer of the Company in a subscription form of its election to utilize cashless exercise, in which event the Company shall issue to the
Holder the number of Ordinary Shares determined as follows: 

 X = Y [(A-B)/A] 

where: 
 X = the number of
Ordinary Shares to be issued to the Holder. 
 Y = the number of Ordinary Shares with respect to which this Warrant is being exercised. 

A = the fair market value of one share of Ordinary Shares. 

B = the Warrant Price. 
 The
Registered Holder may not exercise any Warrants in the absence of a registration statement except pursuant to this Section 3.3.2. For purposes of this Section 3.3.2 and
Section 4.1, the fair market value of one Ordinary Share is defined as follows (“Fair Market Value”): 
  

	 	(i)	 if the Ordinary Shares is listed and traded on the New York Stock Exchange, the NYSE America, the NASDAQ Global
Select Market, the NASDAQ Global Market or the NASDAQ Capital Market (each, a “Trading Market”), the fair market value shall be deemed the average of the closing price on such Trading Market for the 10 consecutive trading days
ending on the third (3rd) trading day immediately prior to the date the subscription form is submitted to the Company in connection with the exercise of the Warrant; or 

 

	 	(ii)	 if the Company’s Ordinary Shares is not listed on a Trading Market, but is traded in the over-the-counter market, the fair market value shall be deemed to be the average of the bid price on such Trading Market for the 10 consecutive trading days ending on the
third (3rd) trading day immediately prior to the date the subscription form is submitted in connection with the exercise of the Warrant; or 

  
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	 	(iii)	 if there is no active public market for the Company’s Ordinary Shares, the fair market value of the
Ordinary Shares shall be determined in good faith by the Board. 

  

	 	3.3.3.	 Fractional Shares. Notwithstanding any provision to the contrary contained in this Warrant Agreement,
the Company shall not be required to issue any fraction of an Ordinary Share in connection with the exercise of Warrants, and in any case where the Registered Holder would be entitled under the terms of the Warrants to receive a fraction of a share
of Ordinary Shares upon the exercise of such Registered Holder’s Warrants, issue or cause to be issued only the largest whole number of Ordinary Shares issuable on such exercise (and such fraction of an Ordinary Shares will be disregarded);
provided, that if more than one Warrant certificate is presented for exercise at the same time by the same Registered Holder, the number of whole shares of Ordinary Shares which shall be issuable upon the exercise thereof shall be computed on
the basis of the aggregate number of Ordinary Shares issuable on exercise of all such Warrants. 

  

	 	3.3.4.	 Issuance of Certificates. No later than three (3) business days following the exercise of any
Warrant and the clearance of the funds in payment of the Warrant Price pursuant to Section 3.3.1 or cashless exercise pursuant to Section 3.3.2, the Company shall issue, or cause to be issued, to
the Registered Holder of such Warrant a certificate or certificates representing (or at the option of the Registered Holder, deliver electronically through the facilities of the Depository Trust Corporation) the number of full Ordinary Shares 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 or surrendered in full, a new countersigned Warrant for the number of Ordinary Shares as to
which such Warrant shall not have been exercised or surrendered. Notwithstanding the foregoing, the Company shall not deliver, or cause to be delivered, any securities without applicable restrictive legend pursuant to the exercise of a Warrant
unless (a) a registration statement under the Securities Act of 1933, as amended (the “Act”) with respect to the Ordinary Shares issuable upon exercise of such Warrants is effective and a current prospectus relating to the
shares of Ordinary Shares issuable upon exercise of the Warrants is available for delivery to the Registered Holder of the Warrant or (b) in the opinion of counsel to the Company, the exercise of the Warrants is exempt from the registration
requirements of the Act and such securities are qualified for sale or exempt from qualification under applicable securities laws of the states or other jurisdictions in which the Registered Holder resides. Warrants may not be exercised by, or
securities issued to, any Registered Holder in any state in which such exercise or issuance would be unlawful. In addition, in no event will the Company be obligated to pay such Registered Holder any cash consideration upon exercise or otherwise
“net cash settle” the Warrant. 

  
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	 	3.3.5.	 Valid Issuance. All Ordinary Shares issued upon the proper exercise or surrender of a Warrant in
conformity with this Warrant Agreement shall be validly issued, fully paid and non-assessable. 

  

	 	3.3.6.	 Date of Issuance. Each person or entity in whose name any such certificate for Ordinary Shares is issued
shall, for all purposes, be deemed to have become the holder of record of such shares on the date on which the Warrant was surrendered and payment of the Warrant Price was made, irrespective of the date of delivery of such certificate, except that,
if the date of such surrender and payment is a date when the share transfer books of the Company are closed, such person shall be deemed to have become the holder of such shares at the close of business on the next succeeding date on which the share
transfer books are open. 

  

	4.	 Adjustments. 

  

	4.1.	 Share Dividends, Splits. If, after the date hereof, and subject to the provisions of
Section 4.5 below, the number of outstanding Ordinary Shares is increased by a share dividend payable in Ordinary Shares, or by a forward or reverse split of Ordinary Shares, or other similar event, then, on the effective
date of such share dividend, split or similar event, the number of Ordinary Shares issuable on exercise of each Warrant shall be increased or decreased in proportion to such increase or decrease in outstanding Ordinary Shares. A rights offering to
all holders of the Ordinary Shares entitling holders to purchase Ordinary Shares at a price less than the Fair Market Value shall be deemed a share dividend of a number of shares of Ordinary Shares equal to the product of (i) the number of
shares of Ordinary Shares 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 shares of Ordinary Shares) multiplied by (ii) one (1)
minus the quotient of (x) the price per share of Ordinary Shares paid in such rights offering divided by (y) the Fair Market Value. For purposes of this subsection 4.1, if the rights offering is for securities convertible
into or exercisable for Ordinary Shares, in determining the price payable for the Ordinary Shares, there shall be taken into account any consideration received for such rights, as well as any additional amount payable upon exercise or conversion.

  

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

  
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	4.3.	 Extraordinary Dividends. If the Company, at any time while the Warrants (or rights to purchase 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 Ordinary Shares on account of such Ordinary Shares (or other shares of the Company’s share capital
into which the Warrants are convertible), other than (a) as described in subsection 4.1 above or (b) Ordinary Cash Dividends (as defined below) (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 the fair market value (as
determined by the Board in good faith) of any securities or other assets paid on each Ordinary Share in respect of such Extraordinary Dividend. For purposes of this subsection 4.3, “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 Ordinary Shares 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 Ordinary Shares issuable on exercise of each Warrant) does not exceed $0.50. 

 

	4.4.	 Adjustments in Exercise Price. 

 

	 	4.4.1.	 Whenever the number of Ordinary Shares purchasable upon the exercise of the Warrants is adjusted, as provided
in Sections 4.1 and 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, (a) the numerator of which shall be the number of
Ordinary Shares purchasable upon the exercise of the Warrants immediately prior to such adjustment, and (b) the denominator of which shall be the number of Ordinary Shares so purchasable immediately thereafter. 

 

	4.5.	 Replacement of Securities upon Reorganization, etc. In case of any reclassification or reorganization of
the outstanding Ordinary Shares (other than a change covered by Sections 4.1 and 4.2 hereof or one that solely affects the par value of such shares of Ordinary Shares), or, in the case of any merger or consolidation of the
Company with or into another entity (other than a consolidation or merger in which the Company is the continuing company and that does not result in any reclassification or reorganization of the outstanding Ordinary Shares), or, in the case of any
sale or conveyance to another company 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 Registered Holders 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 Ordinary Shares of the Company immediately theretofore purchasable and receivable upon the exercise of the rights represented
thereby, the kind and amount of shares or other securities or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation, 

  
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or upon a dissolution following any such sale or transfer, that the Registered Holder would have received if such Registered Holder had exercised his, her or its Warrant(s) immediately prior to
such event; and if any reclassification also results in a change in Ordinary Shares covered by Sections 4.1 or 4.2, then such adjustment shall be made pursuant to Sections 4.1, 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. 

 

	4.6.	 Notices of Changes in Warrant. Upon every adjustment of the Warrant Price or the number of shares
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
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
– 4.5 the Company shall give written notice to each Registered Holder, at the last address set forth for such Registered 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. 

  

	4.7.	 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 as is stated in the Warrants initially issued pursuant to this Warrant Agreement. However, 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.	 Notice of Certain Transactions. In the event that the Company shall (a) offer to holders of all its
Ordinary Shares rights to subscribe for or to purchase any securities convertible into Ordinary Shares or shares of any class or any other securities, rights or options, (b) issue any rights, options or warrants entitling all the holders of
Ordinary Shares to subscribe for Ordinary Shares, or (c) make a tender offer, redemption offer or exchange offer with respect to the Ordinary Shares, the Company shall send to the Registered Holders a notice of such action or offer. Such notice
shall be mailed to the Registered Holders at their addresses as they appear in the Warrant Register, which shall specify the record date for the purposes of such dividend, distribution or rights, or the date such issuance or event is to take place
and the date of participation therein by the holders of Ordinary Shares, if any such date is to be fixed, and shall briefly indicate the effect of such action on the Ordinary Shares and on the number and kind of any other shares and on other
property, if any, and the number of Ordinary Shares and other property, if any, issuable upon exercise of each Warrant and the Warrant Price after giving effect to any adjustment pursuant to this Section 4 which would be
required as a result of such action. Such notice shall be given as promptly as practicable after the Company has taken any such action. 

  
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	5.	 Transfer and Exchange of Warrants. 

 

	5.1.	 [Reserved] 

  

	5.2.	 Registration of Transfer. The Warrant Agent shall register the transfer, from time to time, of any
outstanding Warrant into the Warrant Register, upon surrender of such Warrant for transfer 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. The Warrants so cancelled shall be delivered by the Warrant Agent to the Company from time to time upon the
Company’s request. 

  

	5.3.	 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 a Warrant surrendered for transfer bears a restrictive legend, the Warrant Agent shall not cancel such Warrant and shall issue new Warrants in exchange therefor 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. 

 

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

  

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

  

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

  

	6.	 Redemption. 

  

	6.1.	 Redemption. Subject to the second sentence of this Section 6.1, all (and not
less than all) of the outstanding Public Warrants may be redeemed, in whole and not in part, at the option of the Company, at any time from and after the Warrants become exercisable, and prior to their expiration, at the office of the Warrant Agent,
upon the notice referred to in Section 6.2, at the price of $0.01 per Warrant 

  
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(“Redemption Price”); provided that the last sales price of the Ordinary Shares has been equal to or greater than $18.00 per share (subject to adjustment for splits,
dividends, recapitalizations and other similar events), for any twenty (20) trading days within a thirty (30) trading day period ending on the third (3rd) business day prior to the date on which notice of redemption is given and
provided further that there is a current registration statement in effect with respect to the Ordinary Shares underlying the Warrants for each day in the aforementioned 30-day trading period and
continuing each day thereafter until the Redemption Date (defined below). For avoidance of doubt, if and when the Warrants become redeemable by the Company under this Section, the Company may exercise its redemption right, even if it is unable to
register or qualify the Ordinary Shares for sale under all applicable state securities laws. 

  

	6.2.	 Date Fixed for, and Notice of, Redemption. In the event the Company shall elect to redeem all of the
Warrants, the Company shall fix a date for the redemption (the “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 date fixed
for redemption to the Registered Holders of the Warrants to be redeemed at their last addresses as they shall appear on the Warrant Register. 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. 

  

	6.3.	 Exercise After Notice of Redemption. The Warrants may be exercised in accordance with
Section 3 of this Warrant Agreement at any time after notice of redemption shall have been given by the Company pursuant to Section 6.2 hereof and prior to the Redemption Date; provided that
the Company may require the Registered Holder who desires to exercise the Warrant to elect cashless exercise as set forth under Section 3.3.2, and such Registered Holder must exercise the Warrants on a cashless basis if the
Company so requires. On and after the Redemption Date, the Registered Holder of the Warrants shall have no further rights except to receive, upon surrender of the Warrants, the Redemption Price. 

 

	6.4.	 No Other Rights to Cash Payment. Except for a redemption in accordance with this
Section 6, no Registered Holder of any Warrant shall be entitled to any cash payment whatsoever from the Company in connection with the ownership, exercise or surrender of any Warrant under this Warrant Agreement.

  

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

 

	7.1.	 No Rights as Shareholder. A Warrant does not entitle the Registered Holder thereof to any of the rights
of a shareholder 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 shareholders in respect of the meetings of
shareholders or the election of directors of the Company or any other matter. 

  
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	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 terms 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. 

  

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

 

	7.4.	 Registration of Ordinary Shares. The Company agrees that as soon as practicable, but in no event later
than thirty (30) business days after the Effective Date, it shall use its best efforts to file with the U.S. Securities and Exchange Commission a registration statement for the registration under the Act of the Ordinary Shares issuable upon
exercise of the Warrants, and 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. In addition, the Company agrees to use its best efforts to register the Ordinary Shares issuable upon exercise of the Warrants under state blue sky laws, to the extent an exemption is not available. 

 

	8.	 Concerning the Warrant Agent and Other Matters. 

 

	8.1.	 Payment of Taxes. The Company will, 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 Ordinary Shares upon the exercise of Warrants, but the Company shall not be obligated to pay any transfer taxes in respect of the Warrants or such shares.

  

	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 Registered Holder of the Warrant (who shall, with such notice, submit his, her or its Warrant for inspection by the Company), then the Registered 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. Any successor Warrant Agent, whether appointed by the Company or by 

  
 12 

	 	
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 be authorized under such laws to exercise corporate trust powers and subject to supervision or examination by federal or state authorities. 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 Ordinary Shares not later than the effective date of any such appointment. 

 

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

  

	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
Warrant Agent hereunder and will 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 Warrant Agreement.

  
 13 

	8.4.	 Liability of Warrant Agent. 

 

	 	8.4.1.	 Reliance on Company Statement. Whenever, in the performance of its duties under this Warrant 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 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 Warrant 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 hold 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 Warrant Agreement, except as a result of the Warrant Agent’s gross negligence, willful misconduct or bad faith. 

  

	 	8.4.3.	 Exclusions. The Warrant Agent shall have no responsibility with respect to the validity of this Warrant
Agreement or with respect to the validity or execution of any Warrant (except its countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant or condition contained in this Warrant Agreement or in any
Warrant; nor shall it 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 Ordinary Shares to be issued pursuant to this Warrant Agreement or any
Warrant or as to whether any Ordinary Shares will 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 Warrant 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 moneys received
by the Warrant Agent for the purchase of shares of the Company’s Ordinary Shares through the exercise of Warrants. 

  

	8.6.	 Waiver. The Warrant Agent hereby waives any 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 July 13, 2020, by and between PTK 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. 

  
 14 

	9.	 Miscellaneous Provisions. 

 

	9.1.	 Successors. All the covenants and provisions of this Warrant 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 Warrant Agreement to be given or made by the
Warrant Agent or by the Registered Holder of any Warrant to or on the Company shall be delivered by hand or sent by registered or certified mail or overnight courier service, addressed (until another address is filed in writing by the Company with
the Warrant Agent) as follows: 

 Valens Semiconductor Ltd. 

8 Hanagar Street 

POB 7152 

Hod Hasharon, 45011309 

Israel 

Attention: General Counsel 

Email: keren.shmuelisidi@valens.com 

with a copy (which shall not constitute notice) to: 

Davis Polk & Wardwell LLP 

450 Lexington Avenue 

New York NY 10017 

Attention: Michael Kaplan 

   Brian Wolfe 

Email: michael.kaplan@davispolk.com 

  brian.wolfe@davispolk.com 

and 

Meitar  |  Law Offices 

16 Abba Hillel Road 

Ramat Gan 52506, Israel 

Attention: Alon Sahar                 

  Assaf Naveh 

  Tali Lungin 

Email: asahar@meitar.com                 

  assafn@meitar.com 

  talil@meitar.com 

Any notice, statement or demand authorized by this Warrant Agreement to be given or made by the Registered Holder of any Warrant or by the
Company to or on the Warrant Agent shall be delivered by hand or sent by registered or certified mail or overnight courier service, addressed (until another address is filed in writing by the Warrant Agent with the Company), as follows: 

Continental Stock Transfer & Trust Company 

1 State Street, 30th Floor 
 New
York, New York 10004 

  
 15 

 Any notice, sent pursuant to this Warrant Agreement shall be effective, if delivered by
hand, upon receipt thereof by the party to whom it is addressed, if sent by overnight courier, on the next business day of the delivery to the courier, and if sent by registered or certified mail on the third (3rd) day after registration or
certification thereof. 
  

	9.3.	 Applicable Law. The validity, interpretation, and performance of this Warrant Agreement and of the
Warrants shall be governed in all respects by the laws of the State of New York, without giving effect to conflict of laws. The Company and the Warrant Agent hereby agree that any action, proceeding or claim against either of them arising out of or
relating in any way to this Warrant 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 and the Warrant Agent hereby waive any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Any such process or summons to be served upon the Company or the
Warrant Agent may be served by transmitting a copy thereof by registered or certified mail, return receipt requested, postage prepaid, addressed to it at the address set forth in Section 9.2 hereof. Such mailing shall be
deemed personal service and shall be legal and binding upon the party receiving such service in any action, proceeding or claim. 

  

	9.4.	 Persons Having Rights under this Warrant Agreement. Nothing in this Warrant Agreement expressed and
nothing that may be implied from any of the provisions hereof is intended, or shall be construed, to confer upon, or give to, any person or entity other than the parties hereto and the Registered Holders of the Warrants and, for the purposes of
Sections 9.2 hereof, the Representative and the underwriters, any right, remedy, or claim under or by reason of this Warrant Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. All covenants, conditions,
stipulations, promises, and agreements contained in this Warrant 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 Warrant 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 Registered Holder to submit his, her or its
Warrant for inspection. 

  

	9.6.	 Counterparts - Facsimile Signatures. This Warrant Agreement may be executed in any number of
counterparts, and each of such counterparts shall, for all purposes, be deemed to be an original, and all such counterparts shall together constitute one and the same instrument. Facsimile signatures shall constitute original signatures for all
purposes of this Warrant Agreement. 

  
 16 

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

  

	9.8.	 Amendments. This Warrant Agreement and any Warrant certificate may be amended by the parties hereto by
executing a supplemental warrant agreement (a “Supplemental Agreement”), without the consent of any of the Warrant Holders, for the purpose of (i) curing any ambiguity, or curing, correcting or supplementing any defective
provision contained herein, or making any other provisions with respect to matters or questions arising under this Warrant Agreement that is not inconsistent with the provisions of this Warrant Agreement or the Warrant certificates,
(ii) evidencing the succession of another company or other entity to the Company and the assumption by any such successor of the covenants of the Company contained in this Warrant Agreement and the Warrants, (iii) evidencing and providing
for the acceptance of appointment by a successor Warrant Agent with respect to the Warrants, (iv) adding to the covenants of the Company for the benefit of the Registered Holders or surrendering any right or power conferred upon the Company
under this Warrant Agreement, or (v) amending this Warrant Agreement and the Warrants in any manner that the Company may deem to be necessary or desirable and that will not adversely affect the interests of the Registered Holders in any
material respect. All other modifications or amendments to this Warrant Agreement, including any amendment to increase the Warrant Price or shorten the Exercise Period, shall require the written consent of the Registered Holders of a majority of the
then outstanding Warrants. Notwithstanding the foregoing, the Company may extend the duration of the Exercise Period in accordance with Section 3.2 without such consent and an exchange offer made in respect of both the
Public Warrants and the Private Warrants on the same terms will not constitute an amendment requiring consent of any Warrant Holder. 

  

	9.9.	 Severability. This Warrant 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 Warrant 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 Warrant Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable. 

[SIGNATURE PAGE FOLLOWS] 

  
 17 

 IN WITNESS WHEREOF, this Warrant Agreement has been duly executed by the parties hereto as
of the day and year first above written. 
  

			
	PTK ACQUISITION CORP.

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	
	VALENS SEMICONDUCTOR LTD.

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	CONTINENTAL STOCK TRANSFER & TRUST COMPANY

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 [Signature Page to Warrant Agreement] 

 EXHIBIT A 

[Form of Warrant Certificate]2 

 

	2 	 Note to Draft: Form of Warrant Certificate to be provided.EX-4.10

 Exhibit 4.10 

SECOND AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

THIS SECOND AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT (this “Agreement”), is made as of May 25, 2021, by and
among Valens Semiconductor Ltd., a limited liability company organized under the laws of the State of Israel (the “Company”), and the Holders (as defined below) who have executed a signature page or Joinder Agreement (as defined
below) to this Agreement (including the Prior Agreement). Capitalized terms used and not otherwise defined herein will have the meaning give such terms in the Business Combination Agreement (as defined below). 

W I T N E S S E T H : 
 WHEREAS,
the Company and certain of the Holders are parties to that certain Amended and Restated Investors’ Rights Agreement dated as of August 2, 2018 (the “Prior Agreement”); 

WHEREAS, PTK Holdings LLC, a Delaware limited liability company (“PTK Holder”), and PTK Acquisition Corp., a Delaware
corporation (“SPAC”), are parties to that certain Registration Rights Agreement, dated as of July 13, 2020, as amended (the “Previous Sponsor Agreement” and, together with the Prior Agreement, the
“Previous Agreements”); 
 WHEREAS, in connection with the consummation of the transactions (the “Business
Combination”) contemplated by the Business Combination Agreement, dated as of May 25, 2021, by and among the Company, Valens Merger Sub, Inc., a Delaware corporation, and SPAC (the “Business Combination Agreement”),
(x) each of the Holders party to the Prior Agreement and the Company desire that, effective upon the Closing (as defined below), the Prior Agreement shall be amended and restated in its entirety and (y) each of PTK Holder and SPAC desire that,
effective upon the Closing (as defined below), the Previous Sponsor Agreement shall be terminated and cancelled in its entirety and shall be of no further force and effect; 

WHEREAS, this Agreement is being executed concurrently with the entry into the Business Combination Agreement and will become effective upon
the Closing (as defined below); and 
 WHEREAS, the Holders and the Company desire to set forth certain matters regarding the ownership of
the shares of the Company as set forth herein. 
 NOW, THEREFORE, in consideration of the mutual promises, covenants, conditions, representations and
warranties set forth herein, the parties hereby agree as follows: 
 1.    Affirmative Covenants. 

1.1    Confidentiality. Each Holder agrees that any information obtained pursuant to this Agreement (including any
information about any proposed registration or offering pursuant to Section 2) will not, without the prior written consent of the Company, be disclosed or used for any purpose other than the exercise of rights under this
Agreement; provided, however, that disclosure of such information shall be permitted by any Holder as required by applicable law or on a confidential basis to its attorneys, accountants and other professionals and
advisors to the extent necessary to obtain their services in connection with monitoring its investment in the Company or enforcement of its rights, and, in case of a corporate entity, to (x) its Affiliates (including without limitation, in the
case of Aptiv, the Aptiv Group (each as defined below)) other than with respect to information with respect to which such Affiliate (including without limitation, in the case of Aptiv, the Aptiv Group) has a conflict of interest and (y) to its
and such Affiliates’ officers, directors, employees, general partner (and the officers and directors thereof), attorneys, accountants and other professionals and advisors (collectively, “Representatives”) on a need-to-know basis; provided that each Holder shall be responsible for any breach of the terms of this Section 1.1 by any of its
Representatives. 
 2.    Registration. The following provisions govern the registration of the Company’s
securities: 
 2.1    Definitions. As used herein, the following terms have the following meanings: 

“Aptiv” means Aptiv International Holdings (Luxembourg) S.a.r.l. (formerly known as Delphi International
Holdings Sarl.). 

 “Aptiv Group” means Aptiv or any of Aptiv PLC, any one or
more of the other direct or indirect subsidiaries that is an affiliate of Aptiv, and any entity under common control with Aptiv. 

“Earn-out Shares” means the 1,006,250 Ordinary Shares (as adjusted for
stock splits, stock dividends, reorganizations and recapitalizations and the like) issuable at the Effective Time to the PTK Holder and its Permitted Transferees that are subject to restrictions on Transfer and forfeiture as set forth in the Sponsor
Letter Agreement. 
 “Exchange Act” means the United States Securities Exchange Act of 1934, as amended, or
any federal statute or code which is a successor thereto. 
 “Form S-3/F-3” means Form S-3 or Form F-3 under the Securities Act, as in effect on the date hereof or any registration
form under the Securities Act subsequently adopted by the SEC which permits inclusion or incorporation of substantial information by reference to other documents filed by the Company with the SEC. 

“Holder” means any holder of Ordinary Shares or options or warrants convertible into Ordinary Shares who is a party to
or bound by this Agreement. 
 “Initiating Holders” means either (a) Holders of a majority of the issued and
outstanding Registrable Shares then held by all Holders (other than the PTK Holder), assuming for purposes of such determination the conversion of all shares convertible into Registrable Shares or (b) the PTK Holder, acting by itself. 

“Joinder Agreement” means a joinder agreement, in substantially the form attached hereto as Exhibit A. 

“Lock-up Period” shall mean (i) with respect to the Holders (other than
the PTK Holder and its Lock-up Permitted Transferees) and their respective Lock-up Permitted Transferees, the period beginning on the date of the closing (the
“Closing”) of the Business Combination (the “Closing Date”), and ending on the date that is one hundred and eighty (180) days following the Closing Date and (ii) with respect to the PTK Holder and its Lock-up Permitted Transferees, the period beginning on the Closing Date and ending on the earliest of (x) the date that is one hundred and eighty (180) days after the Closing Date and (y) the date on
which the Company completes a liquidation, merger, share exchange, reorganization or other similar transaction that results in all of the Company’s shareholders having the right to exchange their Ordinary Shares for cash, securities or other
property (a “Liquidation Event”). 
 “Lock-up Shares” shall
mean with respect to (i) the Holders (other than the PTK Holder and its Lock-up Permitted Transferees) and their respective Lock-up Permitted Transferees, the
Ordinary Shares held by such Holders immediately prior to the Closing (excluding, for the avoidance of doubt, any Ordinary Shares purchased in a private placement in connection with the Business Combination or acquired in the public market following
the Closing) and any Ordinary Shares issuable upon conversion or exercise of warrants, options or any other instrument held by the Holders as of immediately prior to the Closing (excluding, for the avoidance of doubt, SPAC Warrants) and
(ii) the PTK Holder and its Lock-up Permitted Transferees, (A) the Earn-out Shares and the
Non-Earn-out Shares (excluding, for the avoidance of doubt, any Ordinary Shares purchased in a private placement or secondary transaction in connection with the
consummation of the Business Combination or acquired in the public market following the Closing) and (B) any SPAC Warrants (or Company Warrants issuable to the PTK Holder or its Permitted Transferees at the Effective Time) held by the PTK
Holder or its Permitted Transferees and any Ordinary Shares underlying any such warrants. 
 “Non-Earn-out Shares” means the 1,868,750 Ordinary Shares (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations and the like) issuable at the Effective Time
to the PTK Holder and its Permitted Transferees. 
 “party” means a party to this Agreement unless otherwise
specified. 
 “Register”, “registered” and “registration” refer to a
registration effected by filing a Registration Statement in compliance with the Securities Act and the declaration or ordering by the Commission of effectiveness of such Registration Statement, or the equivalent actions under the laws of another
jurisdiction. 

  
 2 

 “Registration Statement” shall mean any registration statement that
covers Registrable Shares pursuant to the provisions of this Agreement, including the prospectus included in such registration statement, amendments (including post-effective amendments) and supplements to such registration statement, and all
exhibits to and all material incorporated by reference in such registration statement. 
 “Registrable Shares” means
(i) all Ordinary Shares (as such term is defined in the Company’s Articles of Association) (the “Ordinary Shares”) owned by any Holder party hereto as of immediately after the Closing, including any Ordinary Shares
issuable upon conversion or exercise of warrants, options or any other securities or instruments issued or assumed by the Company and any Ordinary Shares issued to holders of Class A ordinary shares, par value US$0.0001 per share, of the SPAC
in connection with the Business Combination at Closing, and (ii) all Ordinary Shares acquired by any Holder party hereto following the date hereof (including any Ordinary Shares issuable upon conversion or exercise of warrants, options or any
other securities or instruments issued or assumed by the Company) to the extent that such securities are “restricted securities” (as defined in Rule 144) or are otherwise held by an “affiliate” (as defined in Rule 144) of the
Company; provided that, Ordinary Shares shall cease to be Registrable Shares (1) on the later of (x) as to any Holder that holds more than 5% of then-outstanding Ordinary Shares, two years after the date of the
Business Combination and (y) when they are freely saleable without registration by the Holder thereof pursuant to Rule 144 (without the need for any manner of sale requirement or volume limitation and without the requirement for the Company to
be in compliance with the current public information requirement under Rule 144I(1) (or Rule 144(i)(2), if applicable)) or (2) when sold pursuant to Rule 144 or a Registration Statement. 

“SEC” or “Commission” means the U.S. Securities and Exchange Commission. 

“Securities Act” means the United States Securities Act of 1933, as amended or any federal statute or code which is a
successor thereto. 
 “Shelf Registration” shall mean a registration of securities pursuant to a Registration
Statement filed with the SEC in accordance with and pursuant to Rule 415 promulgated under the Securities Act (or any successor rule then in effect). 

“Transfer” shall mean, directly or indirectly, the (x) sale or assignment of, offer to sell, contract or
agreement to sell, hypothecate, pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of or establishment or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent
position within the meaning of Section 16 of the Exchange Act with respect to, any security, (y) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of, or
any other derivative transaction with respect to, any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (z) public announcement of any intention to effect any transaction specified
in clause (x) or (y). 
 2.2    Incidental Registration. If the Company at any time (beginning upon (but
excluding) the Closing Date) proposes to register any of its Ordinary Shares (other than (w) a shelf registration to register Ordinary Shares issued to investors in a private placement in connection with the Business Combination, (x) in a
registration under Section 2.3, Section 2.4 or Section 2.5 of this Agreement, (y) a registration on Form F-8 or S-8 or (z) pursuant to Form F-4 or S-4 in connection with a business combination or exchange offer or pursuant to exercise or conversion of outstanding securities) or to undertake an underwritten public
offering of its securities pursuant to an effective Registration Statement (a “Shelf Takedown”), it shall give written notice to all Holders of such intention not less than ten (10) days before the anticipated filing date of
the applicable Registration Statement, which notice shall (A) describe the amount and type of securities to be included in such offering, the intended method(s) of distribution, and the name of the proposed managing underwriter or underwriters,
if any, in such offering, and (B) offer to all Holders the opportunity to register the sale of such number of Registrable Shares as such Holders may request in writing. Upon the written request of any Holder given within twenty (20) days
after receipt of any such notice, the Company shall include in such registration or Shelf Takedown all of the Registrable Shares indicated in such request, so as to permit the disposition of the shares so registered; provided
that no Holder who holds Registrable Shares that are subject 

  
 3 

 
to restriction on Transfer as set forth in Section 4.1 or restriction on Transfer or forfeiture as set forth in Section 3 of the Sponsor Letter Agreement shall have any right to have
such Holder’s Registrable Shares that are subject to restriction on Transfer or forfeiture participate in such registration or offering except to the extent such restriction on Transfer or forfeiture has expired or been waived. The Company
shall, in good faith, cause such Registrable Shares to be included in such registration or offering and, if applicable, shall use its commercially reasonable efforts to cause the managing underwriter(s) of such registration to permit the Registrable
Shares requested by the Holders pursuant to this Section 2.2 to be included therein on the same terms and conditions as any similar securities of the Company included in such registered offering and to permit the sale or other disposition of
such Registrable Shares in accordance with the intended method(s) of distribution thereof. Notwithstanding any other provision of this Section 2.2, if the managing underwriter advises the Company in writing in good faith that the amount to be
sold by persons other than the Company is greater than the amount which can be offered without adversely affecting the offering, the Company may reduce the amount offered for the accounts of selling shareholders to a number deemed satisfactory by
such managing underwriter, provided that any shares to be excluded shall be determined in the following order of priority: (i) shares held by shareholders other than the Holders, and (ii) then, to the extent necessary, shares
held by the Holders pro rata to the respective number of Registrable Shares requested to be included such registration or Shelf Takedown by the Holders; and provided, further, that in any event all Registrable Shares must
be included in such registration or Shelf Takedown prior to any other shares of the Company (with the exception of shares to be issued by the Company to the public) and the number of Registrable Shares to be included in the offering shall not be
reduced to below twenty five percent (25%) of the total number of securities included in such offering (divided among the Holders participating in the registration pro rata to the respective number of Registrable Shares requested to be included by
each of such Holders). Any Holder may elect to withdraw such Holder’s request for inclusion of Registrable Shares in any Registration Statement pursuant to this Section 2.2 by giving written notice to the Company of such request to
withdraw prior to the effectiveness of the Registration Statement. The Company (whether on its own determination or as the result of a withdrawal by persons making a demand pursuant to written contractual obligations) may withdraw a Registration
Statement at any time prior to the effectiveness of such Registration Statement. 
 2.3    Demand Registration.
At any time following the Closing the Initiating Holders may request in writing that the Company shall file a Registration Statement with respect to the registration and resale of all or part of the Registrable Shares held by them that are not
subject to restriction on Transfer as set forth in Section 4.1 or restriction on Transfer or forfeiture as set forth in Section 3 of the Sponsor Letter Agreement, including without limitation on Form
F-1 (a “Demand Registration”). As soon as practicable and in any event within twenty (20) days after receipt of any such request, the Company shall give written notice of such request to
the other Holders and shall include in such registration all Registrable Shares held by all such Holders who wish to participate in such Demand Registration and provide the Company with written requests for inclusion therein within seven
(7) days after the receipt of the Company’s notice; provided that no Holder who holds Registrable Shares that are subject to restriction on Transfer as set forth in Section 4.1 or restriction on Transfer or
forfeiture as set forth in Section 3 shall have any right to have such Holder’s Registrable Shares that are subject to such restriction on Transfer or forfeiture participate in such Registration Statement except to the extent such
restriction on Transfer or forfeiture has expired or been waived. Thereupon, the Company shall use its best efforts to effect the registration of all Registrable Shares as to which it has received requests for registration for;
provided, however, that: (i) the Company shall not be required to effect any registration under this Section 2.3 within a period of ninety (90) days following the effective date of a previous registration
filed by the Company covering a firm commitment underwritten public offering in which the holders of Registrable Shares shall have been entitled to join pursuant to Section 2.2 and in which there shall have been effectively registered all
Registrable Shares as to which registration shall have been requested; (ii) the registration shall cover the public sale of Registrable Shares with an aggregate public offering price reasonably expected to be at least US$35,000,000; and
(iii) if the Company furnishes to the Holders a certificate signed by the Chief Executive Officer of the Company that in the good faith judgment of the board of directors of the Company (the “Board”) it is not in the
Company’s best interests to file such registration, the Company may defer the filing for up to ninety (90) days once during any twelve (12) month period. The Initiating Holders may elect to withdraw from any offering pursuant to this
Section 2.3 by giving written notice to the Company and the underwriter(s) of their request to withdraw prior to the effectiveness of the Registration Statement filed by the SEC with respect to such Demand Registration. If the Initiating
Holders withdraw from a proposed offering relating to a Demand Registration, then either the Initiating Holders shall reimburse the Company for the costs associated with the withdrawn Demand Registration (in which case such registration shall not
count 

  
 4 

 
as a Demand Registration provided for in this Section 2.3) or such withdrawn registration shall count as a Demand Registration provided for in this Section 2.3. Notwithstanding any
other provision of this Section 2.3, if the managing underwriter advises the Holders in writing that marketing factors require a limitation on the dollar amount or the number of shares to be underwritten, then the number of shares to be
included in such underwritten public offering shall be reduced to a number deemed satisfactory by such managing underwriter; provided, that the shares to be excluded shall be determined in the following order of priority:
(i) shares held by shareholders other than the Holders, (ii) shares which the Company may wish to register for its own account, and thereafter, to the extent necessary, (iii) shares held by the Holders (pro rata to the respective
number of Registrable Shares requested by the Holders to be included in the registration); provided, however, that in any event all Registrable Shares must be included in such registration prior to any other shares of the
Company. The Company may not cause any other registration of securities for sale for its own account (other than a registration effected solely to implement an employee benefit plan) to be initiated after a registration requested pursuant to
Section 2.3 and to become effective less than ninety (90) days after the effective date of any registration requested pursuant to Section 2.3. The Company shall not be required to effect more than two (2) registrations under this
Section 2.3 for Initiating Holders (other than the PTK Holder) and the Company shall not be required to effect more than one (1) registration under this Section 2.3 if the PTK Holder is the Initiating Holder. A registration will not
count as a requested registration under this Section unless and until the Registration Statement relating to such registration has been declared effective by the Commission. 

2.4    F-1 Registration Statement. If the SEC publicly announces or informs
the Company that Rule 144(i) applies to the Company, the following provision shall apply. The Company shall, as soon as practicable after such notice from the SEC, but in any event within thirty (30) days, file a Registration Statement under
the Securities Act to permit the public resale of all the Registrable Shares held by any Holder from time to time as permitted by Rule 415 under the Securities Act (or any successor or similar provision adopted by the SEC then in effect) on the
terms and conditions specified in this Section 2.4 and shall use its reasonable commercial efforts to cause such Registration Statement to be declared effective as expeditiously as possible after the filing thereof. The Registration Statement
filed with the SEC pursuant to this Section 2.4 shall be on Form F-1, with respect to such Registrable Shares (the “Shelf”), and shall contain a prospectus in such form as to permit
(subject to the Lock-up) the Holders to sell such Registrable Shares pursuant to Rule 415 under the Securities Act (or any successor or similar provision adopted by the SEC then in effect), or such other means
of distribution of Registrable Shares as the Holders may reasonably specify, at any time beginning on the effective date for such Registration Statement; provided that the Company shall not be obligated to effect any such registration,
qualification, compliance or offering, pursuant to this Section 2.4, if the Company shall furnish to the Holders a certificate signed by the Chief Executive Officer of the Company stating that in the good faith judgment of the Board it would be
seriously detrimental to the Company or its shareholders for such Form F-1 registration statement or any Shelf Takedown pursuant thereto to be effected at such time, in which event the Company shall have the
right to defer the filing of the Form F-1 registration statement for a period of not more than ninety (90) days; provided, further, that the Company shall not utilize this
right more than once in any twelve (12) month period. The Company shall maintain the Shelf in accordance with the terms hereof, and shall prepare and file with the SEC such amendments, including post-effective amendments, and supplements as may
be necessary to keep such Shelf continuously effective, available for use and in compliance with the provisions of the Securities Act until such time as there are no longer any Registrable Shares included on such registration statement. The Company
shall use its commercially reasonable efforts to convert the Form F-1 to a Form S-3/F-3 as soon as practicable after the Company
is eligible to use Form S-3/F-3. A Registration Statement filed pursuant to this Section 2.4 shall provide for the resale pursuant to any method or combination of
methods legally available to, and requested by, any Holder. Subject to the second succeeding sentence, as soon as practicable following the effective date of a Registration Statement filed pursuant to this Section 2.4, but in any event within
three (3) business days from such date, the Company shall notify the Holders of the effectiveness of such Registration Statement. The Holders may use such Form F-1 to dispose of their Registrable Shares
on a non-underwritten basis, and, to the extent permissible under SEC rules, may utilize such Form F-1 on an underwritten basis if requested by Initiating Holders (with
any such request being deemed to be a demand pursuant to Section 2.3 and subject to the limits and rules set forth therein, mutatis mutandis). If requested by any Holder, the Company shall promptly file with the SEC such post-effective
amendments or supplements to any such Form F-1 as may be necessary to name such Holder therein as a selling shareholder and otherwise permit such Holder to sell Registrable Shares thereunder. 

  
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 2.5    Form S-3/F-3 Registration. After the initial public offering of its securities registered under the Securities Act, the Company shall use its best efforts to qualify and remain qualified to register securities
pursuant to a Registration Statement on Form S-3/F-3 under the Securities Act. In case the Company shall receive from any Holder or Holders a written request or requests
that the Company effect a registration on Form S-3/F-3, and any related qualification or compliance, with respect to Registrable Shares, the Company shall within twenty
(20) days after receipt of any such request give written notice of the proposed registration, and any related qualification or compliance, to all other Holders, and include in such registration all Registrable Shares held by all such Holders
who wish to participate in such registration and provide the Company with written requests for inclusion therein within seven (7) days after the receipt of the Company’s notice; provided that any Holder who holds
Registrable Shares that are subject to restriction on Transfer as set forth in Section 4.1 or restriction on Transfer or forfeiture as set forth in Section 3 of the Sponsor Letter Agreement shall have any right to have such Holder’s
Registrable Shares that are subject to such restriction on Transfer or forfeiture participate in such registration or offering except to the extent such restriction on Transfer or forfeiture has expired or been waived. Thereupon, the Company shall
effect such registration and all such qualifications and compliances as may be so requested and as would permit or facilitate the sale and distribution of all or such portion of such Holder’s or Holders’ Registrable Shares as are specified
in such request, together with all or such portion of the Registrable Shares of any other Holder or Holders joining in such request as are specified in a written request given within seven (7) days after receipt of such written notice from the
Company; provided, however, that the Company shall not be obligated to effect any such registration, qualification, compliance or offering, pursuant to this Section 2.5, if the Company shall furnish to the Holders a
certificate signed by the Chairman of the Board stating that in the good faith judgment of the Board it is not in the Company’s best interests to file such Form
S-3/F-3, in which event the Company may defer the filing for up to ninety (90) days once during any twelve (12) month period. The Holders may use such Form S-3/F-3 to dispose of their Registrable Shares on a non-underwritten basis, and, to the extent permissible under SEC rules, may utilize
such Form S-3/F-3 on an underwritten basis if requested by Initiating Holders (with any such request being deemed to be a demand pursuant to Section 2.3 and subject
to the limits and rules set forth therein, mutatis mutandis). If requested by any Holder, the Company shall promptly file with the SEC such post-effective amendments or supplements to any such Form S-3/F-3 as may be necessary to name such Holder therein as a selling shareholder and otherwise permit such Holder to sell Registrable Shares thereunder. 

2.6    Designation of Underwriter. In the case of any registration effected pursuant to Section 2.3, the
Company shall have the right to designate the managing underwriter(s) in any underwritten offering, with the approval of the holders of a majority of the Registrable Shares held by the Initiating Holders, which approval shall not be unreasonably
withheld. 
 2.7    Expenses. All expenses incurred in connection with any registration under Section 2.2,
Section 2.3, Section 2.4 or Section 2.5 shall be borne by the Company (except as otherwise mentioned in Section 2.3 with respect to a withdrawn Demand Registration), provided that the selling Holders shall bear all
underwriting discounts, selling commissions, and share transfer taxes applicable to the sale by them of the Registrable Shares, pro rata on the basis of the number of Registrable Shares registered on their behalf, and each Holder shall bear fees and
disbursements of counsel for such Holder, except for the fees and disbursements of one U.S. counsel and one Israeli counsel for all selling Holders which shall be borne and paid by the Company. 

2.8    Indemnities. In the event of any registered offering of Ordinary Shares pursuant to this Section 2:

 2.8.1 The Company will indemnify and hold harmless, to the fullest extent permitted by law, any Holder and any underwriter (as defined in
the Securities Act) for such Holder, and each person, if any, who controls (within the meaning of the Securities Act) the Holder or such underwriter, and directors, officers, employees and agents of any of them (each, an “Indemnified
Person”) from and against any and all losses, damages, claims, liabilities, joint or several, costs and expenses (including any amounts paid in any settlement effected with the Company’s consent) to which such Indemnified Person may
become subject under applicable law or otherwise, insofar as such losses, damages, claims, liabilities (or actions or proceedings in respect thereof), costs or expenses arise out of or are based upon: (i) any untrue statement or alleged untrue
statement of any material fact contained, on the effective date thereof, in the Registration Statement or included in any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereto; (ii) the omission or
alleged omission to state therein a material fact required to be stated therein or necessary 

  
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to make the statements therein, in the light of the circumstances in which they are made, not misleading; or (iii) any violation by the Company of the Securities Act, the Exchange Act or any
state securities law or any rule or regulation thereunder in connection with the registration. The Company will reimburse each such Indemnified Person, promptly upon demand, for any reasonable legal or attorney’s fees or any other expenses
incurred by them in connection with investigating, preparing to defend or defending against or appearing as a third-party witness in connection with such loss, claim, damage, liability, action or proceeding; provided,
however, that the Company will not be liable to any Indemnified Person in any such case to the extent that any such loss, damage, liability, cost or expense arises out of or is based upon an untrue statement or alleged untrue statement
or omission or alleged omission so made in conformity with information furnished in writing by such Indemnified Person specifically for inclusion therein; provided, further, that this indemnity shall not be deemed to
relieve any underwriter of any of its due diligence obligations; provided, further, that the indemnity agreement contained in this subsection 2.8.1 shall not apply to amounts paid in settlement of any such claim, loss,
damage, liability or action if such settlement is effected without the consent of the Company, which consent shall not be unreasonably withheld, conditioned or delayed. Such indemnity shall remain in full force and effect regardless of any
investigation made by or on behalf of the Holder, the underwriter or any controlling person of the Holder or the underwriter, and regardless of any sale in connection with such offering by the Holder. Such indemnity shall survive the transfer of
securities by a Holder. 
 2.8.2 Each Holder participating in a registration hereunder will indemnify and hold harmless the Company, each
other Holder participating in such registration, any underwriter (as defined in the Securities Act) for the Company, or for any such other Holder, and each person, if any, who controls (within the meaning of the Securities Act) the Company or such
underwriter or such other Holder, from and against any and all losses, damages, claims, liabilities, costs or expenses (including any amounts paid in any settlement effected with the selling shareholder’s consent) to which the Company or any
such controlling person and/or any such underwriter and/or such other Holder may become subject under applicable law or otherwise, insofar as such losses, damages, claims, liabilities (or actions or proceedings in respect thereof), costs or expenses
arise out of or are based on: (i) any untrue or alleged untrue statement of any material fact contained, on the effective date thereof, in any Registration Statement under which shares were registered under the Securities Act at the request of
such Holder, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereto; or (ii) the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to
make the statements therein, in the light of the circumstances in which they were made, not misleading, and each such Holder will reimburse the Company, each other Holder participating in such registration, any underwriter and each such controlling
person of the Company or any underwriter, promptly upon demand, for any reasonable legal or attorney’s fees or other expenses incurred by them in connection with investigating, preparing to defend or defending against or appearing as a
third-party witness in connection with such loss, claim, damage, liability, action or proceeding; in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was so made
in conformity with written information furnished by such Holder specifically for inclusion therein; provided, further, that this indemnity shall not be deemed to relieve any underwriter of any of its due diligence
obligations; provided, further, that the indemnity agreement contained in this subsection 2.8.2 shall not apply to amounts paid in settlement of any such claim, loss, damage, liability or action if such settlement is
effected without the consent of the Holders, as the case may be, which consent shall not be unreasonably withheld, conditioned or delayed. In no event shall the liability of a Holder exceed the net proceeds from the offering received by such Holder.

 2.8.3 Promptly after receipt by an indemnified party pursuant to the provisions of Sections 2.8.1 or 2.8.2 of notice of the commencement
of any action involving the subject matter of the foregoing indemnity provisions, such indemnified party will, if a claim thereof is to be made against the indemnifying party pursuant to the provisions of said Section 2.8.1 or 2.8.2, promptly
notify the indemnifying party of the commencement thereof; but the omission to notify the indemnifying party will not relieve it from any liability which it may have to any indemnified party otherwise than hereunder. In case such action is brought
against any indemnified party and it notifies the indemnifying party of the commencement thereof, the indemnifying party shall have the right to participate in, and, to the extent that it may wish, jointly with any other indemnifying party similarly
notified, to assume the defense thereof with counsel reasonably satisfactory to such indemnified party; provided, however, that if the defendants in any action include both the indemnified party and the indemnifying party
and there is or is reasonably expected to be a conflict of interests which would prevent counsel for the indemnifying party from also representing the indemnified party, the indemnified party 

  
 7 

 
or parties shall have the right to select one separate counsel to participate in the defense of such action on behalf of such indemnified party or parties. After notice from the indemnifying
party to such indemnified party of its election so to assume the defense thereof, the indemnifying party will not be liable to such indemnified party pursuant to the provisions of said Sections 2.8.1 or 2.8.2 for any legal or other expense
subsequently incurred by such indemnified party in connection with the defense thereof, unless (i) the indemnified party shall have employed counsel in accordance with the provision of the preceding sentence, (ii) the indemnifying party
shall not have employed counsel reasonably satisfactory to the indemnified party to represent the indemnified party within a reasonable time after the notice of the commencement of the action and as soon as practicable and within fifteen
(15) days after written notice of the indemnified party’s intention to employ separate counsel pursuant to the previous sentence, or (iii) the indemnifying party has authorized the employment of counsel for the indemnified party at
the expense of the indemnifying party. No indemnifying party will consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party
of a release from all liability in respect to such claim or litigation. 
 2.8.4 If recovery is not available under the foregoing
indemnification provisions, for any reason other than as specified therein, the parties entitled to indemnification by the terms thereof shall be entitled to contribution to liabilities and expenses in such proportion as is appropriate to reflect
the relative fault of each of the indemnifying party and the indemnified party in connection with the statements, omissions, or other actions that resulted in such loss, claim, damage, liability, or expense, as well as to reflect any other relevant
equitable considerations. In determining the amount of contribution to which the respective parties are entitled, there shall be considered the parties’ relative knowledge and access to information concerning the matter with respect to which
the claim was asserted, the opportunity to correct and prevent any statement or omission, and any other equitable considerations appropriate under the circumstances. In no event shall the liability of a Holder exceed the net proceeds from the
offering received by such Holder. 
 2.8.5 Notwithstanding anything to the contrary hereunder, no person or entity guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to indemnification or contribution pursuant to this Section 2.8 from any person or entity who was not guilty of such fraudulent
misrepresentation. 
 2.9    Obligations of the Company. Whenever required under this Section 2 to affect
the registration of any Registrable Shares, the Company shall, as expeditiously as possible: 
 2.9.1 prepare and file with the SEC a
Registration Statement with respect to such Registrable Shares and use its best efforts to cause such Registration Statement to become effective, and, upon the request of the holders of a majority of the Registrable Shares registered thereunder,
keep such Registration Statement effective for a period of up to nine (9) months (or in the case of any registration of Registrable Shares on Form S-3/F-3 that are
intended to be offered on a continuous or delayed basis, subject to compliance with applicable SEC rules, such 9-month period shall be extended by up to an additional six (6)-month period, to keep the
Registration Statement effective) or, if sooner, until the all Registered Shares covered thereby have been sold; 
 2.9.2 subject to the
suspension rights set forth in Section 2.3, 2.4 and 2.5, prepare and file with the SEC such amendments and supplements to such Registration Statement and the prospectus used in connection with such Registration Statement as may be necessary to
comply with the provisions of the Securities Act with respect to the disposition of all Registrable Shares covered by such Registration Statement; 

2.9.3 use commercially reasonable efforts to furnish to the Holders and the underwriters, if any, such numbers of copies of the prospectus,
including a preliminary prospectus, and any amendments or supplements to such a prospectus, without charge to the holders of Registrable Shares included in such registration and in conformity with the requirements of the Securities Act, and such
other documents as they may reasonably request in order to facilitate the disposition of Registrable Shares owned by them; 
 2.9.4 in the
event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing underwriter of such offering. Each Holder participating in such underwriting shall also
enter into and perform its obligations under such an agreement; 

  
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 2.9.5 notify each Holder of Registrable Shares covered by such Registration Statement and
any underwriters, if any, of the happening of any event as a result of which the prospectus included in such Registration Statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be
stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing; and, as promptly as practicable thereafter, prepare and file with the Commission and furnish a supplement or amendment to such
prospectus, so that, as thereafter deliverable to the purchasers of such Registrable Shares, such prospectus will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the
light of the circumstances under which they were made, not misleading; 
 2.9.6 cause all Registrable Shares registered pursuant hereunder
to be listed on each securities exchange on which similar securities issued by the Company are then listed; 
 2.9.7 provide a transfer
agent and registrar for all Registrable Shares registered pursuant hereunder and a CUSIP number for all such Registrable Shares, in each case not later than the effective date of such registration; 

2.9.8 furnish, at the request of any Holder requesting registration of Registrable Shares pursuant to this Section 2, on the date that
such Registrable Shares are delivered to the underwriters for sale in connection with a registration pursuant to this Section 2, if such securities are being sold through underwriters, or, if such securities are not being sold through
underwriters, on the date that the Registration Statement with respect to such securities becomes effective: (i) an opinion, dated such date, of the counsel representing the Company for the purposes of such registration, in form and substance
as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters, if any, and to the Holders requesting registration of Registrable Shares; and (ii) a letter dated such date, from the independent
certified public accountants of the Company, in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public offering, addressed to the underwriters, if any, and to the Holders
requesting registration of Registrable Shares; 
 2.9.9 if requested by the managing underwriter or underwriters (if any), any Holder, or
such Holder’s counsel, promptly incorporate in a prospectus supplement or post-effective amendment such information as such person requests to be included therein, including, without limitation, with
respect to the shares being sold by such Holder to such underwriter or underwriters, the purchase price being paid therefor by such underwriter or underwriters and with respect to any other terms of an underwritten offering of the shares to be sold
in such offering, and promptly make all required filings of such prospectus supplement or post-effective amendment; 

2.9.10 make available to each Holder, any underwriter participating in any disposition pursuant to a Registration Statement, and any attorney,
accountant or other agent or representative retained by any such Holder or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company as shall be
reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such Registration
Statement; 
 2.9.11 otherwise cooperate with the underwriter(s), the Commission and other regulatory agencies and take all actions and
execute and deliver or cause to be executed and delivered all documents necessary to effect the registration of any shares under this Agreement; 

2.9.12 during the period when the prospectus is required to be delivered under the Securities Act, promptly file all documents required to be
filed with the Commission pursuant to Sections 13(a), 13(c), 14, or 15(d) of the Exchange Act; and 
 2.9.13 in the case of an underwritten
offering involving gross proceeds in excess of US$50 million, use its reasonable efforts to make available senior executives of the Company to participate in customary “road show” presentations that may reasonably be requested by the
underwriter. 

  
 9 

 2.10    Obligations of Holders. Without limiting the foregoing,
no Holder may participate in any underwritten offering hereunder unless such Holder (a) agrees to sell such Holder’s Registrable Shares on the basis provided in any underwriting arrangements approved by the Company (in the case of a Shelf
Takedown) or the Initiating Holders (in the case of a Demand Registration) and (b) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents reasonably required under the terms of
such underwriting arrangements and the provisions of this Agreement in respect of registration rights. 

2.11    Assignment of Registration Rights. Any of the Holders may assign its rights to cause the Company to
register Shares pursuant to this Section 2 to a transferee of all or any part of its Registrable Shares. The transferor shall, within twenty (20) days after such transfer, furnish the Company with written notice of the name and address of
such transferee and the securities with respect to which such registration rights are being assigned, and the transferee shall execute a Joinder Agreement as required by Section 5.4 below. 

2.12    Public Information. At any time and from time to time after the earlier of the close of business on such
date as (a) a registration statement filed by the Company under the Securities Act becomes effective, (b) the Company registers a class of securities under Section 12 of the Exchange Act, or (c) the Company issues an offering
circular meeting the requirements of Regulation A under the Securities Act, the Company shall undertake to make publicly available and available to the Holders pursuant to Rule 144, such information as is necessary to enable the Holders to make
sales of Registrable Shares pursuant to that Rule. The Company shall comply with the current public information requirements of Rule 144 and shall furnish thereafter to any Holder, upon request, a written statement executed by the Company as to the
steps it has taken to so comply. 
 2.13    “Market
Stand-off” Agreement. Each Holder agrees that it will not, without the prior written consent of the Company or the managing underwriter, during the period commencing on the date
of the final prospectus used in connection with any underwritten offerings pursuant to Section 2 above by the Company in which the Company complied with Section 2, and ending on the date specified by the Company and the managing
underwriter, such period not to exceed ninety (90) days following the closing of such underwritten offering: (i) lend; offer; pledge; sell; contract to sell; sell any option or contract to purchase; purchase any option or contract to sell;
grant any option, right, or warrant to purchase; or otherwise transfer or dispose of, directly or indirectly, any Ordinary Shares or any securities convertible into or exercisable or exchangeable (directly or indirectly) for Ordinary Shares (whether
such shares or other securities are then owned by the Holder, or are thereafter acquired by the Holder, but excluding shares purchased in the offering and shares purchased following the offering that were not subject to underwriters’ lock-up); or (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of such securities, whether any such transaction
described in clause (i) or (ii) above is to be settled by delivery of Ordinary Shares or other securities, in cash, or otherwise. The foregoing provisions of this Section 2.13 shall not apply to the sale of any shares to an underwriter
pursuant to an underwriting agreement and shall be applicable to the Holders only if all Company’s officers and directors and all Holders individually owning more than one percent (1%) of the Company’s outstanding Ordinary Shares (on an as
converted basis) shall be subject to similar restrictions. The underwriters in connection with such registration are intended third-party beneficiaries of this Section 2.13 and shall have the right,
power, and authority to enforce the provisions hereof as though they were a party hereto. In addition, at the underwriters’ request, each Holder shall enter into a lock-up agreement in customary form
reflecting the foregoing. 
 3.    Termination. This Agreement shall terminate upon the earlier of (i) upon
the consummation of a Liquidation Event in which the Holders receive at the closing thereof cash or unrestricted marketable securities; or (ii) with respect to each Holder, such time as such Holder ceases to hold any Registrable Shares;
provided, however, that the provisions of Section 1.1 shall continue and remain in full force and effect following the termination of this Agreement for whatever reason. 

  
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 4.    Lock-up. 

4.1    Lock-up. Subject to Section 4.2, all Holders agree that they
shall not Transfer any Lock-up Shares or any instruments exercisable or exchangeable for, or convertible into, such Lock-up Shares until the end of the Lock-up Period (the “Lock-up”). It is acknowledged and agreed that, in addition to the restrictions hereunder, the
Earn-out Shares are subject to separate restrictions on Transfer under the Sponsor Letter Agreement, and may not be Transferred until the vesting conditions with respect to such
Earn-out Shares are satisfied (and in any case subject to the Lock-up hereunder). For the avoidance of doubt, securities acquired by a Holder party hereto in open market
transactions subsequent to the date hereof shall not be subject to the Lock-up. 

4.2    Permitted Transfers. Notwithstanding the provisions set forth in Section 4.1, each Holder and its Lock-up Permitted Transferees may Transfer the Lock-up Shares during the Lock-up Period (a) to (i) such Holder’s officers or
directors, (ii) any Affiliates (as defined below) or family members of such Holder’s officers or directors, (iii) any members or partners, shareholder or other equity holder of such Holder or their Affiliates, or (iv) any
Affiliates of such Holder or any employees of any such Affiliates; (b) in the case of an individual, (i) by gift to a member of the individual’s immediate family or to a trust, the beneficiary of which is a member of the
individual’s immediate family or an affiliate of such person or entity, (ii) by virtue of laws of descent and distribution upon death of the individual and (iii) pursuant to a qualified domestic relations order; (c) by virtue of
such Holder’s certificate of incorporation or bylaws (or equivalent), as amended, upon dissolution of such Holder; (d) in connection with a bona fide gift or charitable contribution without consideration; (e) with the written consent
of the Board or (f) in connection with a liquidation, merger, stock exchange, reorganization, tender offer or other similar transaction, in each case in this clause (f) as approved by the Board or a duly authorized committee thereof, which
results in all of the Company’s stockholders having the right to exchange their Ordinary Shares for cash, securities or other property subsequent to the Closing Date (collectively, the “Lock-up
Permitted Transferees”); provided, however, that in the case of clauses (a) through (d) such Lock-up Permitted Transferee must execute a Joinder Agreement. 

5.    Miscellaneous. 

5.1    Effectiveness; Termination of Previous Agreements. This Agreement shall become effective as of the Closing
and prior thereto shall be of no force or effect. If the Business Combination Agreement is terminated in accordance with its terms prior to the Closing, this Agreement shall automatically be terminated and be of no force or effect, and each of the
Previous Agreements shall remain in full force and effect in accordance with its terms with respect to the parties thereto. Effective as of the Closing, this Agreement shall supersede and replace in its entirety the terms and conditions of each
Previous Agreement, which Previous Agreements shall be null and void and of no further force or effect. 

5.2    Further Assurances. Each of the parties hereto shall perform such further acts and execute such further
documents as may reasonably be necessary to carry out and give full effect to the provisions of this Agreement and the intentions of the parties as reflected thereby. 

5.3    Governing Law; Jurisdiction. This Agreement shall be governed by and construed according to the laws of the
State of Delaware, without regard to the conflict of laws provisions thereof. Any dispute, legal action or proceeding, whether at law or in equity, whether in contract or in tort or otherwise arising out of or relating to this Agreement or the
performance hereunder shall be subject to the exclusive jurisdiction of the Chancery Court of the State of Delaware (or, if the Chancery Court of the State of Delaware declines to accept jurisdiction, any state or federal court sitting Wilmington,
Delaware or any appellate court therefrom), and each of the parties hereby irrevocably submits to the exclusive jurisdiction of such court. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW WHICH CANNOT BE WAIVED, EACH OF THE PARTIES IRREVOCABLY AND
UNCONDITIONALLY WAIVES ANY RIGHT TO TRIAL BY JURY IN RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. 

5.4    Successors and Assigns; Assignment. Except as otherwise expressly limited herein (including
Section 4.1), the provisions hereof shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors, and administrators of the parties hereto. None of the rights, privileges, or obligations set forth in, arising
under, or created by this Agreement, except for the right of the Holders to cause the Company to 

  
 11 

 
register Shares pursuant to Section 2 herein, may be assigned or transferred without the prior consent in writing of each party to this Agreement, with the exception of: (a) assignments
and transfers of all or part of the Registrable Shares between the Holders; (b) assignments and transfers of all or part of the Registrable Shares from a Holder to any other entity which controls, is controlled by, or is under common control
with, such Holder (including, with respect to Aptiv, within the Aptiv Group) (each being an “Affiliate”); (c) as to any Holder which is a partnership, assignments and transfers of all or part of the Registrable Shares to its
partners and to affiliated partnerships managed by the same management company or managing general partner or by an entity which controls, is controlled by, or is under common control with, such management company or managing general partner; or
(d) assignments and transfers of all or part of the Registrable Shares by a Holder to any fund (or shareholder or partner of any such fund), or any beneficiary of an account or arrangement, managed by such Holder or by the general partner or
managing entity of such Holder or by an affiliate thereof (the persons set forth in clauses (a)-(d), collectively, “Permitted Transferees”), or (e) assignment or transfer of all or part of the Registrable Shares by a Holder to
a Permitted Transferee in accordance with the provisions of and subject to the limitations set forth in the Articles. Unless otherwise noted in the applicable Joinder Agreement, each Permitted Transferee shall be deemed a Holder. 

5.5    Entire Agreement; Amendment and Waiver. This Agreement and the Schedules hereto constitute the full and
entire understanding and agreement between the parties with regard to the subject matters hereof and thereof and supersede all prior agreements and understandings, both oral and written between the parties with respect to the subject matters of this
Agreement, including the Previous Agreements. Any term of this Agreement may be amended and the observance of any term hereof may be waived (either prospectively or retroactively and either generally or in a particular instance) only with the
written consent of the Company and the Holders of at least 65% of the Registrable Shares held by the Holders (voting together as a single class or by consent of such required majority); provided that, in the event any such amendment or
waiver would by its terms be disproportionate and adverse to the rights or obligations of the PTK Holder, the prior written consent of the PTK Holder will also be required. Without derogating from the foregoing, Sections 1.1 and 5.4 of this
Agreement may not be amended in a manner restricting Aptiv’s rights to share information, or to assign its rights, within the Aptiv Group. The grant by the Company of registration rights and/or similar rights equal or senior to those of the
Holders to holders of a new class(es) of preferred shares shall not be deemed an amendment pursuant to which the rights or preferences of any Holder(s) or a certain class of shares are adversely altered, provided the rights,
preferences or privileges attached to such new preferred shares apply in the same manner vis-a-vis all other existing series or classes of shares, without a different
application to different classes. 
 5.6    Notices, etc.. All notices and other communications required or
permitted hereunder to be given to a party to this Agreement shall be in writing and shall be telecopied or mailed by registered mail, postage prepaid, or prepaid air courier, or otherwise delivered by hand or by messenger, addressed to such
party’s address as set forth below: 
  

			
	If to the Company:	  	 Valens Semiconductor Ltd.
 8 Hanagar
Street
 Hod Hasharon, 45240, Israel
 Facsimile: +972-9-7626931
 Email: keren.shmuelisidi@valens.com,
Dror.Heldenberg@valens.com
 Attn: Keren Shmueli, General Counsel and Dror Heldenberg, CFO

		
	With a copy to (which shall not constitute notice):	  	 Meitar  |  Law Offices
 16
Abba Hillel Silver Road
 Ramat Gan 52506
 Israel

Facsimile: +972-3-6103111

E-mail: asahar@meitar.com

Attn: Alon Sahar, Advocate.

  
 12 

			
		  	  
 Davis Polk & Wardwell LLP

450 Lexington Avenue
 New York, New York 10017

Facsimile: +1-212-701-5111

E-mail: michael.kaplan@davispolk.com

 brian.wolfe@davispolk.com
  

Attn: Michael Kaplan
  Brian
Wolfe

		
	If to the Holders:	  	To the addresses set forth on Exhibit B.

 or such other address with respect to a party as such party shall notify each other party in writing as above provided. Any
notice sent in accordance with this Section 5.6 shall be effective (i) if mailed, five (5) business days after mailing, (ii) if by air courier, two (2) business days after delivery to the courier service, (iii) if sent
by messenger, upon delivery, and (iv) if sent via facsimile or by email, upon transmission and, in the event of facsimile transmission, electronic confirmation of receipt or (if transmitted and received on a
non-business day) on the first business day following transmission and, in the event of email transmission, in the absence of any reply indicating failure of delivery of the email. All communications shall
also be sent by email. 
 5.7    Delays or Omissions. No delay or omission to exercise any right, power, or
remedy accruing to any party upon any breach or default under this Agreement, shall be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent, or approval of any kind or character on the part
of any party of any breach or default under this Agreement, or any waiver on the part of any party of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set forth in such
writing. All remedies, either under this Agreement or by law or otherwise afforded to any of the parties, shall be cumulative and not alternative. 

5.8    Severability. If any provision of this Agreement is held by a court of competent jurisdiction to be
unenforceable under applicable law, then such provision shall be excluded from this Agreement and the remainder of this Agreement shall be interpreted as if such provision were so excluded and shall be enforceable in accordance with its terms;
provided, however, that in such event this Agreement shall be interpreted so as to give effect, to the greatest extent consistent with and permitted by applicable law, to the meaning and intention of the excluded
provision as determined by such court of competent jurisdiction. 
 5.9    Counterparts. This Agreement may be
executed in any number of counterparts, each of which shall be deemed an original and enforceable against the parties actually executing such counterpart, and all of which together shall constitute one and the same instrument. 

5.10    Aggregation of Shares. Registrable Shares held or acquired by affiliated entities or persons shall be
aggregated together for the purpose of determining the availability of any rights under this Agreement. 
 5.11
    Mutual Drafting. This Agreement is the joint product of the parties hereto and each provision hereof has been subject to the mutual consultation, negotiation and agreement of the parties and shall not be construed for
or against any party hereto. 
 5.12     Additional Holders. Notwithstanding anything to the contrary
contained herein, (i) if the Company issues additional Ordinary Shares the date hereof, whether pursuant to a share purchase agreement or otherwise, any purchaser of such shares and (ii) any holder as of the date hereof of the
Company’s Ordinary Shares that are restricted securities, in each case, may become a party to this Agreement by executing and delivering an additional counterpart signature page to this Agreement, and thereafter shall be deemed a
“Holder” for all purposes hereunder. No action or consent by the Holders shall be required for such joinder to this Agreement by such additional Holder, so long as such additional Holder has executed a Joinder Agreement. 

  
 13 

 5.13    PFIC Information. At the request (and sole cost) of any
requesting U.S. shareholders, the Company will use commercially reasonable efforts to retain a nationally recognized accounting firm to (i) determine whether the Company is a passive foreign investment company (a “PFIC”) under
Section 1297 of the Internal Revenue Code of 1986, as amended (the “Code”), for its taxable year that includes the Closing Date or a future taxable year and (ii) if it is, (A) determine whether any of the
Company’s subsidiaries is a PFIC and (B) provide the U.S. shareholder with the information intended to allow such U.S. shareholder to make a qualified electing fund election under Code Section 1293 with respect to the Company and/or
its subsidiaries. 
 [Signature Page to Follow] 

  
 14 

 IN WITNESS WHEREOF the parties have signed this Amended and Restated Investors’ Rights
Agreement as of the date first hereinabove set forth. 
  

			
	VALENS SEMICONDUCTOR LTD.

			
		
	By:	 	 /s/ Dror Heldenberg

	Name:	 	 Dror Heldenberg

	Title:	 	Chief Financial Officer

 [Signature Page of Amended and Restated Investors’ Rights Agreement  

Valens Semiconductor Ltd. / ______ 2021] 

  
 15 

 IN WITNESS WHEREOF the parties have signed this Amended and Restated Investors’ Rights Agreement as of
the date first hereinabove set forth. 

			
	
	HALMAN - ALDUBI PROVIDENT AND PENSION FUNDS LTD.

			
		
	By:	 	 /s/ Elad Givoni

	Name:	 	Elad Givoni
	Title:	 	Head of PE
		
	By:	 	 /s/ Haggai Schreiber

	Name:	 	Haggai Schreiber
	Title:	 	CIO

 [Signature Page of Amended and Restated Investors’ Rights Agreement (Cont.) 

Valens Semiconductor Ltd. / ______ 2021] 

  
 16 

 IN WITNESS WHEREOF the parties have signed this Amended and Restated Investors’ Rights
Agreement as of the date first hereinabove set forth. 
 Magma Investors: 
  

			
	MAGMA VENTURE CAPITAL II L.P

			
		
	By:	 	 /s/ Yahal Zilka

	Name:	 	Yahal Zilka
	Title:	 	

			
	
	MAGMA VENTURE CAPITAL II (ISRAEL), L.P

			
		
	By:	 	 /s/ Yahal Zilka

	Name:	 	Yahal Zilka
	Title:	 	

			
	
	MAGMA VENTURE CAPITAL II CEO FUND, L.P

			
		
	By:	 	 /s/ Yahal Zilka

	Name:	 	Yahal Zilka
	Title:	 	

			
	
	VALENS CO INVESTMENT FUND, L.P.
		
	By:	 	 /s/ Yahal Zilka

	Name:	 	Yahal Zilka
	Title:	 	

			
	
	Genesis Investors:
	
	GENESIS PARTNERS III, L.P

			
		
	By:	 	 /s/ Dr. Eyal Kishon

	Name:	 	Dr. Eyal Kishon
	Title:	 	Chairman

			
	
	Valens S.P.V

			
		
	By:	 	 /s/ Dr. Eyal Kishon

	Name:	 	Dr. Eyal Kishon
	Title:	 	Chairman

 [Signature Page of Amended and Restated Investors’ Rights Agreement (Cont.) 

Valens Semiconductor Ltd. / ______ 2021] 

  
 17 

 IN WITNESS WHEREOF the parties have signed this Amended and Restated Investors’ Rights
Agreement as of the date first hereinabove set forth. 

			
	
	Amiti Investors:
	
	AMITI FUND II, L.P.

			
		
	By:	 	 /s/ Ben Rabinowitz

	Name:	 	Ben Rabinowitz
	Title:	 	Managing Partner

			
	
	AMITI VENTURES II, L.P.

			
		
	By:	 	 /s/ Ben Rabinowitz

	Name:	 	Ben Rabinowitz
	Title:	 	Managing Partner

			
	
	AMITI VALENS, L.P.

			
		
	By:	 	 /s/ Ben Rabinowitz

	Name:	 	Ben Rabinowitz
	Title:	 	Managing Partner

 [Signature Page of Amended and Restated Investors’ Rights Agreement (Cont.) 

Valens Semiconductor Ltd. / ______ 2021] 

  
 18 

 IN WITNESS WHEREOF the parties have signed this Amended and Restated Investors’ Rights
Agreement as of the date first hereinabove set forth. 
 Aviv Investors: 

 

	
	 /s/ Amir
Guttman                 /s/ Yoav Chelouche

	AVIV VENTURES II ANNEX FUND LP
	By: Aviv Ventures Capital Partners II, L.P., its General Partner
	By: Aviv Venture Capital Ltd., its General Partner
	By: Amir Guttman, Managing Partner; Yoav Chelouche, Managing Partner
	
	 /s/ Amir
Guttman                 /s/ Yoav Chelouche

	AVIV VENTURES (CVCI) II, L.P.
	By: Aviv Ventures Capital Partners II, L.P., its General Partner
	By: Aviv Venture Capital Ltd., its General Partner
	By: Amir Guttman, Managing Partner; Yoav Chelouche, Managing Partner
	
	 /s/ Amir
Guttman                 /s/ Yoav Chelouche

	AVIV VENTURES (ISRAEL) II, L.P.
	By: Aviv Ventures Capital Partners II, L.P., its General Partner
	By: Aviv Venture Capital Ltd., its General Partner
	By: Amir Guttman, Managing Partner; Yoav Chelouche, Managing Partner
	
	 /s/ Amir
Guttman                 /s/ Yoav Chelouche

	AVIV VENTURES (DELAWARE) II, L.P.
	By: Aviv Ventures Capital Partners II, L.P., its General Partner
	By: Aviv Venture Capital Ltd., its General Partner
	By: Amir Guttman, Managing Partner; Yoav Chelouche, Managing Partner
	
	 /s/ Amir
Guttman                 /s/ Yoav Chelouche

	AVIV VENTURES II ANNEX FUND II, L.P.
	By: Aviv Ventures Capital Partners II, L.P., its General Partner
	By: Aviv Venture Capital Ltd., its General Partner
	By: Amir Guttman, Managing Partner; Yoav Chelouche, Managing Partner
	
	 /s/ Amir
Guttman                 /s/ Yoav Chelouche

	AVIV VENTURES III ANNEX FUND, L.P.
	By: Aviv Ventures Capital Partners II, L.P., its General Partner
	By: Aviv Venture Capital Ltd., its General Partner
	By: Amir Guttman, Managing Partner; Yoav Chelouche, Managing Partner

 [Signature Page of Amended and Restated Investors’ Rights Agreement (Cont.) 

Valens Semiconductor Ltd. / ______ 2021] 

  
 19 

 IN WITNESS WHEREOF the parties have signed this Amended and Restated Investors’ Rights
Agreement as of the date first hereinabove set forth. 
  

			
	MGI Global Fund, L.P
	By:     Mitsui & Co. Global Investment, Inc. as its manager
		
	By:	 	 /s/ Kiyoshi Okubo

	Name:	 	Kiyoshi Okubo
	Title:	 	President & CEO
	
	Magenta Fund, L.P.
	By:    Magenta Fund GP, LP
	By:    Israel Fund GP, LTD.
		
	By:	 	 /s/ Hiroshi
Takeuchi                /s/ Ori Israely

	Name:	 	Hiroshi Takeuchi, Ori Israely
	Title:	 	Managing General Partner
	
	IGP CONNECTIVITY SOLUTIONS (HOLDINGS), L.P.
	
	By:     Growth Partners (Lichtman & Shani) LP
	By:     I.G.P. Lichtman & Shani Ltd., its general partner
		
	By:	 	 /s/ Moshe Lichtman

	Name:	 	Moshe Lichtman
	Title:	 	General Partner
	
	Aptiv International Holdings (Luxembourg) S.á.r.l.4
		
	By:	 	 /s/ Sean P. Corcoran

	Name:	 	Sean P. Corcoran
	Title:	 	Manager

 [Signature Page of Amended and Restated Investors’ Rights Agreement (Cont.) 

Valens Semiconductor Ltd. / ______ 2021] 
  

 

	4 	 Shareholder’s former name: Delphi International Holding S.á r.l. 

 

  
 20 

 IN WITNESS WHEREOF the parties have signed this Amended and Restated Investors’ Rights
Agreement as of the date first hereinabove set forth. 
  

			
	VECTOIQ-VALENS SPV, LLC
	BY: VECTOIQ-VALENS MANAGING MEMBER, LLC
		
	By:	 	 /s/ Stephen Girsky

	Name:	 	Stephen Girsky
	Title:	 	Member and Chief Executive Officer
	
	
		
		 	 /s/ Stephen Girsky

		 	Stephen Girsky
		 	
	
	SAMSUNG OAK HOLDINGS, INC.
		
	By:	 	 /s/ Young Joo Lee

	Name:	 	Young Joo Lee
	Title:	 	Treasurer & CFO
	
	Cloud Ranger Limited
		
	By:	 	 /s/ Hsuan-Ni Chen

	Name:	 	Chen, Hsuan-Ni
	Title:	 	Director
	
	Linse Capital VAL LLC
		
	By:	 	 /s/ Michael Linse

	Name:	 	Michael Linse
	Title:	 	Managing Director

 [Signature Page of Amended and Restated Investors’ Rights Agreement (Cont.) 

Valens Semiconductor Ltd. / ______ 2021] 

  
 21 

 IN WITNESS WHEREOF the parties have signed this Amended and Restated Investors’ Rights
Agreement as of the date first hereinabove set forth. 
  

			
	PTK Acquisition Corp.

			
		
	By:	 	 /s/ Peter Kuo

	Name:	 	Peter Kuo
	Title:	 	Chief Executive Officer

 [Signature Page of Amended and Restated Investors’ Rights Agreement (Cont.) 

Valens Semiconductor Ltd. / ______ 2021] 

  
 22 

 Exhibit A 

Form of Joinder Agreement 

[Date] 
 Reference is hereby made
to the Amended and Restated Investors’ Rights Agreement, dated May 25, 2021 (the “IRA”), by and between Valens Semiconductor Ltd., a company organized under the laws of the State of Israel (the “Company”),
and the Holders named therein. Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to such terms in the IRA. 

Pursuant to Section 2.11 of the IRA, each of the undersigned hereby acknowledges, agrees and confirms that, by its execution of this
Joinder Agreement, it shall be deemed to be a party to the IRA as if it were an original signatory thereto and hereby expressly assumes, and agrees to perform and discharge, all of the obligations and liabilities of a party thereto as the case may
be, under the IRA. All references in the IRA to the “Holders” or “PTK Holder”, as the case may be, shall hereafter include each of the undersigned and their respective successors, as applicable. 

Each of the undersigned hereby agrees to promptly execute and deliver any and all further documents and take such further action as the
Company, the Holders or any undersigned party may reasonably require to effect the purpose of this Joinder Agreement. 
 This Joinder
Agreement shall be governed by and construed according to the laws of the State of Delaware, without regard to the conflict of laws provisions thereof. Any legal action or proceeding, whether at law or in equity, whether in contract or in tort or
otherwise arising out of or relating to this Joinder Agreement or the performance hereunder shall be subject to the exclusive jurisdiction of the Chancery Court of the State of Delaware (or, if the Chancery Court of the State of Delaware declines to
accept jurisdiction, any state or federal court sitting Wilmington, Delaware or any appellate court therefrom), and each of the parties hereto hereby irrevocably submits to the exclusive jurisdiction of such court. TO THE EXTENT NOT PROHIBITED BY
APPLICABLE LAW WHICH CANNOT BE WAIVED, EACH OF THE PARTIES IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT TO TRIAL BY JURY IN RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH OR RELATING TO THIS JOINDER
AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS JOINDER AGREEMENT. 
 [Signature Pages Follow] 

 IN WITNESS WHEREOF, the parties hereto have executed this Joinder Agreement as
of the date herein above set forth. 
 The Company: 
  

	
	VALENS SEMICONDUCTOR LTD.
	
	  
 By:

	Title:
	
	[Permitted Transferees]:
	
	  

	[    ]
	By:                                    

 EXHIBIT B 

THE HOLDERS; ADDRESSES 
  

					
	 Ordinary Shareholders
	  	 Address
	  	 With a copy to (which shall not
constitute a service of
process):

	Dror Jerushalmi	  	 702 Har Ramon Street
 Macabim 71908, Israel

Facsimile: +972-9-7492858

Email: dror.j@valens-semi.com
	  	 Meitar  |  Law Offices
 16
Abba Hillel Silver Road
 Ramat Gan 52506 Israel
 Facsimile: +972-3-6103111
 E-mail:
    asahar@meitar.com; assafn@meitar.com
 Attn: Alon Sahar, Adv. And Assaf Naveh, Adv.

	Eyran Lida	  	 21 Yehuda Street
 Kfar Oranim 73134, Israel

Facsimile: +972-9-7492858

Email: eyran.lida@valens-semi.com

	Nadav Banet	  	 19 Hapalmach Street
 Kadima 60920, Israel

Facsimile: +972-9-7492858

Email: nadav.banet@valens-semi.com

	Gabi Gur-Cohen	  	 21 Hazait Street
 Tel Mond 40600, Israel

Facsimile: +972-9-7492858

Email: gaby.cohen@valens-semi.com

	Alon Benzaray	  	 7 Hashoftim Street
 Herzliya 46447, Israel

Facsimile: +972-9-7492858

Email: alon.benzaray@valens-semi.com

	Massad Eyal	  	 14 Hassuca Street
 Zikhron Yaakov 30900,
Israel
 Facsimile: +972-9-7492858

Email: massad.eyal@valens-semi.com

			
	Israel Secondary Fund (ISR) L.P.	  	 Nolton House 14 Shenkar Street 2nd FL Herzliya
 Facsimile:09-9505500
 Email: dror@israelsecondary.com

Attn: Dror Glass
	  	
			
	Israel Secondary Investments (BVI) L.P.	  	 Nolton House 14 Shenkar Street 2nd FL Herzliya
 Facsimile:09-9505500
 Email: dror@israelsecondary.com

Attn: Dror Glass
	  	
			
	Halman - Aldubi Provident and Pension Funds Ltd.	  	 2 Ben Gurion St. Ramat Gan, 52573
 Facsimile:+972-3-7112783
 Email: lilachs@gemel.co.il, ilan@gemel.co.il

Attn: Lilach Shafir, Ilan Artzi
	  	
			
	PTK Holdings LLC	  	 4601 Wilshire Boulevard, Suite 240, Los Angeles, California

Email: peterkuo@ptktech.com
 Attn: Peter Kuo
	  	Goodwin Procter LLP / Goodwin Procter (Hong Kong) LLP 
100 Northern Avenue 
Boston, MA 02210 
Attention: Douglas Freeman / Jocelyn M. Arel / Chi Pan / Daniel J. Espinoza 
E-mail:
DFreeman@goodwinlaw.com / jarel@goodwinlaw.com / ChiPan@goodwinlaw.com / despinoza@goodwinlaw.com

					
	 Ordinary Shareholders
	  	 Address
	  	 With a copy to (which shall not
constitute a service of
process):

		  		  	Goldfarb Seligman & Co. 
Ampa Tower 
98 Yigal Alon Street 
Tel Aviv 6789141, Israel 
Attention: Aaron M. Lampert 
E-mail:
aaron.lampert@goldfarb.com

					
	 Investor
	  	 Address
	  	 With a copy to (which shall not
constitute a service of
process):

	Magma Venture Capital II L.P	  	 22 Rothschild Blvd.
 Tel Aviv,
6688218
 Attention: Mr. Yahal Zilka
 (yahal@magmavc.com)
and
 Ms. Adi Yarel Toledano
 (Adi@magmavc.com)
	  	
	Magma Venture Capital II (Israel) LP	  	
	Magma Venture Capital II CEO Fund, L.P	  	
			
	Genesis Partners III, L.P	  	 Genesis Partners III LP Ackerstein
 Towers, Bldg
B, 4th Flr.
 Herzliya, 46733
 Facsimile: +972-9729001
 Email: eyal@genesispartners.com

Attention: Dr Eyal Kishon
	  	
			
	Amiti Fund II, L.P.	  	 Amiti Ventures LLC
 1603 Orrington
Ave., Suite 600
 Evanston, IL 60201 USA
 Email:
ben@amitivc.com
 Attention: Ben Rabinowitz
	  	
	Amiti Ventures II, L.P.	  	
	Amiti Valens, L.P.	  	
			
	Aviv Ventures II Annex Fund II L.P.	  	 Yoav Chelouche and Dr. Amir Guttman,

Managing Partners
 36 Shacham St. Ram building 5th floor

Petach Tikva 49517
 Israel

Email: yoav@avivvc.com;
 amir@avivvc.com

Facsimile: +972-3-9199300
	  	 Shenhav & Co., Law Offices
 Attn:
Dr. Ayal Shenhav, Adv., Amir Raz, Adv.
 Or Towers, Building B, 11th Fl.

4 Ha’nechoshet St.
 Ramat Ha’chayal, Tel Aviv 69710,
Israel

			
	Aviv Ventures III Annex Fund L.P.	  	 Yoav Chelouche and Dr. Amir Guttman,

Managing Partners
 36 Shacham St. Ram building 5th floor

Petach Tikva 49517
 Israel

Email: yoav@avivvc.com;
 amir@avivvc.com

Facsimile: +972-3-9199300
	  	 Shenhav & Co., Law Offices
 Attn:
Dr. Ayal Shenhav, Adv., Amir Raz, Adv.
 Or Towers, Building B, 11th Fl.

4 Ha’nechoshet St.
 Ramat Ha’chayal, Tel Aviv 69710,
Israel

			
	MGI Global Fund, L.P	  	 Mitsui & Co. Global Investment Inc.

535 Middlefield Road, Suite 100, Menlo Park, CA94025, US
	  	
			
	Asuspower Investment Co., Ltd.	  	 Asuspower Investment Co., Ltd.
 No.76,Ligong
St., Beitou, Taipei 112,
 Taiwan
 Facsimile: +886 2 5563
7901
 Email: Shaing_Wu@pegatroncorp.com
 Attention: Louise
Wu
	  	
			
	Valens Co Investment Fund, L.P.	  	 22 Rothschild Blvd.
 Tel Aviv, 6688218

Attention: Mr. Yahal Zilka (yahal@magmavc.com) and Ms. Adi Yarel Toledano (Adi@magmavc.com)
	  	
			
	Steve Girsky	  	 1354 Flagler Drive
 Mamaroneck, NY
10543-4603
 E-mail: sgirsky@gmail.com
	  	

					
	 Investor
	  	 Address
	  	 With a copy to (which shall not
constitute a service of
process):

			
	IGP Connectivity Solutions (Holdings), Limited Partnership	  	 c/o I.G.P Lichtman & Shani Management Company Ltd. 
Hakfar Hayarok, Precede Building, Ramat Hasharon

Israel 47800 
Attn: Haim Shani

         Moshe Lichtman 
Fax: 03-3733440 
E-mail: haim@israelgrowthpartners.com 
         moshe@israelgrowthpartners.com
	  	Meitar  |  Law Offices 
16 Abba Hillel Silver Road 
Ramat -Gan 52506, Israel 
Attn:     Dan Shamgar, Advocate

              Shira Azran, Advocate

Tel:        +972-(0)3-610-3100 
Fax:        +972-(0)3-610-3111 
E-mail: dshamgar@meitar.com

              sazran@meitar.com
			
	Valens S.P.V.	  		  	
			
	Aptiv International Holdings (Luxembourg) S.a.r. l.	  	 c/o Aptiv International Holdings (Luxembourg) S.a.r. l.

5725 Delphi Drive
 Troy, MI 48098 USA

Attention: General Counsel
 Attention: General Counsel

Facsimile: 248-813-2491
	  	
			
	Broad Street Principal Investments, L.L.C.	  	 200 West Street
 New York, NY 10282

Attention: Dan Dees, Gregg Lemkau
	  	
			
	Samsung Oak Holdings, Inc.	  	 2440 Sand Hill Road, Suite 302
 Menlo Park CA
94025
 Attn: Shankar Chandran
 Email: shankar.c@samsung.com

dede.g@samsung.com
 a.hankins@samsung.com

jeesung.lee@samsung.com
	  	Meitar  |  Law Offices 
16 Abba Hillel Silver Road 
Ramat -Gan 52506, Israel 
Attn: Raanan Lerner, Advocate 
Tel:        +972-(0)3-610-3100 
Fax:        +972-(0)3-610-3111 
E-mail: raanan@meitar.com
			
	Cloud Ranger Limited	  		  	
			
	VectoIQ-Valens SPV LLC	  	 1354 Flagler Dr
 Mamaroneck NY 10543

Stephen Girsky
 914-374-1929
 sgirsky@vectoiq.com
	  	
			
	Vintage Investment Partners VI (Israel), L.P.	  		  	
			
	Vintage Investment Partners VI (Cayman), L.P.	  		  	
			
	Linse Capital VAL LLC	  	 Michael Linse
 Managing Director

Linse Capital LLC
 1340 Arbor Road

Menlo Park, CA 94025
 United States

email: mlinse@linsecapital.com
	  	 Herzog, Fox & Neeman
 Law Offices

Asia House, 4 Weizmann St., Tel Aviv 6423904, Israel
 Facsimile: +972-3-6966464
 E-mail:
havivh@hfn.co.il
 Attn:     Hanan Haviv, Advocate

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