Document:

arwr-ex104_52.htm

 

Exhibit 10.4

 

SEVENTH AMENDMENT TO LEASE AGREEMENT

This Seventh Amendment to Lease Agreement (this “Amendment”) is between University Research Park, Incorporated, a Wisconsin nonstock corporation (“Landlord”) and Arrowhead Madison Inc., a Delaware corporation (“Tenant”) and is dated as of December 9th, 2020. 

RECITALS

A. Landlord and Tenant are parties to that certain Lease Agreement dated as of January 8, 2016, as amended by that certain First Amendment to Lease Agreement dated October 22, 2018, that certain Second Amendment to Lease Agreement dated January 10, 2019, that certain Third Amendment to Lease Agreement dated January 11, 2019, that certain Fourth Amendment to Lease Agreement dated September 19, 2019, that certain Fifth Amendment to Lease Agreement dated as of May 14, 2020 and that certain Sixth Amendment to Lease Agreement dated as of November 23, 2020  (collectively, the “Original Lease”).  The Original Lease and this Amendment are together referred to herein as the “Lease.” 

B.Pursuant to the Original Lease, Tenant leases from Landlord approximately 63,662 rentable square feet located at 502 South Rosa Road, Madison, Wisconsin (the “502 Building”), an additional 2,971 rentable square feet in the 502 Building, approximately 7,558 rentable square feet located at 504 South Rosa Road, Madison, Wisconsin (the “504 Building”) and approximately 32,499 rentable square feet located at (or to be constructed as an addition to) 500 South Rosa Road, Madison, Wisconsin (the “500 Building,” and together with the 502 Building and 504 Building, the “Buildings”), each as more particularly defined in the Original Lease (the “Leased Premises”).   

C.Landlord and Tenant wish to amend the Lease to further expand the Leased Premises to include Suite 201 in the 504 Building as more particularly set forth in this Amendment. 

AGREEMENTS

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Landlord and Tenant hereby agree as follows: 

1.Defined Terms. Terms that are not defined in this Amendment (including the attached exhibits) but are defined in the Original Lease have the meanings given in the Original Lease.   

2.Amendment of Lease. The Lease is hereby amended as follows: 

a.Fifth Expansion Premises.  Subject to the provisions of this Amendment, effective as of January 1, 2021 (the “Effective Date”), the Leased Premises shall be expanded to include the approximately 4,109 rentable square feet of space in the 504 Building commonly known as Suite 201 (the “Fifth Expansion Premises”) as generally depicted on Exhibit A.    Subject to all of the terms and conditions of the Original Lease except for the payment of Rent, Landlord shall provide Tenant with early access to the Fifth Expansion Premises following the date in which such space is vacated by the existing tenant, anticipated to be approximately December 19, 2020.  If Landlord is unable to deliver possession of the Fifth Expansion Premises to Tenant in accordance with the foregoing provisions, then Landlord shall not be in default hereunder or be liable for damages therefor and Tenant shall accept possession on the date when Landlord delivers possession thereof to Tenant (which date will then be the Effective Date).  The term, with respect to the Fifth Expansion Premises only, shall expire on August 31, 2023 (for the avoidance of doubt, no options to renew shall be applicable to the Fifth Expansion Premises).    

 

 

b.Base Rent.  Tenant shall begin paying Base Rent related to the Fifth Expansion Premises on the Effective Date in the amounts set forth in the Base Rent matrix attached hereto as Exhibit B, together with all other amounts required by the Lease, as amended by this Amendment.     

c.Tenant’s Proportionate Share.  Commencing on the Effective Date, Tenant’s Proportionate Share shall be increased to reflect the addition of the rentable square footage of the Fifth Expansion Premises to the entire Leased Premises, currently estimated to be 74.24% based on the addition of an estimated 4,109 rentable square feet (110,799 rentable square feet of Leased Premises divided by 149,248 square feet in the Buildings within which the Leased Premises are located). Tenant shall thereafter in accordance with Section 2.2 of the Original Lease pay, as additional rent, Tenant’s Proportionate Share of all amounts set forth in the Original Lease, including, without limitation, Real Estate Taxes, Common Area/Operating Expenses and Landlord’s insurance and utilities based thereon.     

d.Fifth Expansion Premises Condition.  Tenant accepts the Fifth Expansion Premises in as-is, where-is condition and acknowledges that Landlord has not made any representation or warranty related thereto, and Landlord shall not be required to construct, modify or otherwise improve the Fifth Expansion Premises in any manner (the foregoing, however, shall not be deemed to relieve Landlord of its ongoing maintenance, repair and replacement obligations to the extent explicitly set forth in the Lease or this Amendment).

e.Maintenance and Repair of Fifth Expansion Premises.   All applicable provisions of the Original Lease regarding the Parties’ maintenance, repair and replacement obligations shall apply to the Fifth Expansion Premises including, but not limited to, Sections 3.1 and 3.2 of the Original Lease, as amended and restated in the Fifth Amendment to Lease Agreement, dated May 14, 2020.   

f.Utilities.  Tenant shall be responsible for the payment of all utilities supplied to the Fifth Expansion Premises beginning on the date Tenant takes occupancy thereof.  

g.Access to Data Closet.  In addition to providing Landlord access to the Leased Premises as set forth in the Original Lease, Tenant shall permit access to the data closet identified on Exhibit A by Stemina Biomarker Discovery, Inc. (“Stemina”) and its employees, agents, successor or assigns upon reasonable prior notice to Tenant (except in the event of an emergency no notice shall be required but Landlord or Stemina shall use reasonable efforts to contact Tenant by phone as soon as possible).  Except in the event of an emergency, a representative of Landlord, the property manager or Tenant shall accompany Stemina (or its agents) upon any such entry to the Fifth Expansion Premises.  

h.Security Deposit.  On the date hereof, Tenant shall deposit an additional $8,500 with Landlord bringing the total Security Deposit to $207,683.62. 

3.Effect. Except as amended by this Amendment, all of the terms, covenants, conditions, provisions, and agreements of the Original Lease remain in full force and effect. The provisions of this Amendment supersede and control over any conflicting provisions in the Original Lease. 

4.Estoppel. Tenant and Landlord hereby represent and warrant that, as of the date hereof (to the best of their actual knowledge with respect to items (b) and (c)), (a) the Lease is in full force and effect and has not been modified or amended, except as set forth herein, (b) neither Tenant nor Landlord is in default under the Lease nor does Tenant or Landlord have any knowledge of any event which with the giving of notice and passage of time would result in a default, and (c) Landlord and Tenant have performed all obligations on each of their respective parts under the Lease, and neither Party has any claims against the other Party, including any claims of offset against any rent or other sums payable by Tenant under the Lease. 

2

 

 

5.Miscellaneous.  This Amendment and the Lease embodies the entire agreement between the parties as to its subject matter and supersedes any prior discussions with respect thereto.  There are no agreements or understandings between the parties with respect to the subject matter of this Amendment not set forth in this Amendment or the Lease.  This Amendment cannot be modified except by a writing signed by both parties. 

6.Signing and Delivery. This Amendment will be effective only when both Landlord and Tenant have signed and delivered it.  Landlord’s submission of an unsigned copy of this Amendment to Tenant for evaluation, negotiation, or signature by Tenant will not constitute signature of this Amendment by Landlord or otherwise bind Landlord, regardless of whether the cover letter or email transmitting that copy of this Amendment is signed or contains words of approval. This Amendment may be signed in counterparts and, when counterparts of this Amendment have been signed and delivered by the required parties as provided in this section, this Amendment will be fully binding and effective, just as if both of the parties had signed and delivered a single counterpart of this Amendment. Any counterpart transmitted by facsimile or email shall, in all cases, be deemed an original signature. 

7.Contingency.  Landlord’s obligations under this Amendment are conditioned and contingent upon Landlord, no later than December ____, 2020, entering into an early termination agreement with Elephas Bio Corporation (“Existing Tenant”) to terminate Existing Tenant’s lease of the Fifth Expansion Premises on terms acceptable to Landlord, in Landlord’s sole discretion.  In the event that Landlord is unable to enter into an acceptable termination agreement with Existing Tenant prior to the date set forth above, Landlord may unilaterally terminate this Amendment upon written notice to Tenant following which neither party shall have any further rights or obligations pursuant to this Amendment. 

[Signature page follows]

 

 

3

 

 

 

IN WITNESS WHEREOF, this Seventh Amendment to Lease is signed by the parties as of the date set forth above. 

 

	
Landlord:

	
 
	
 
	
 

	
 
	
 
	
 

	
UNIVERSITY RESEARCH PARK ,INCORPRATED

	
 
	
 
	
 

	
By:
	
 
	
/s/ Aaron Olver

	
Aaron Olver, Assistant Secretary/Treasurer

 

	
Tenant:

	
 
	
 
	
 

	
 
	
 
	
 

	
ARROWHEAD MADISON INC.

	
 
	
 
	
 

	
By:
	
 
	
/s/ Kenneth A. Myszkowski

	
Kenneth A. Myszkowski, CFO

 

The undersigned Guarantor consents to the terms of this Seventh Amendment to Lease Agreement and agrees that, except as limited by the First Amendment to Lease Agreement dated October 22, 2018 with respect to that portion of the guaranty related to the Note (as defined in the First Amendment), the Guaranty Agreement dated January 8, 2016 remains in full force and effect (and to the extent previously terminated, is hereby reinstated) with respect to the full, and prompt payment and performance of all obligations of Tenant under the Lease, including, without limitation, as amended pursuant to this Seventh Amendment to Lease Agreement.    

 

	
ARROWHEAD PHARMACEUTICALS,INC.

	
(f/k/a ARROWHEAD RESEARCH CORPORATION)

	
 
	
 
	
 

	
 
	
 
	
 

	
By:
	
 
	
/s/ Kenneth A. Myszkowski

	
Kenneth A. Myszkowski, CFO

 

 

 

 

 

EXHIBIT B

BASE RENT MATRIX (FIFTH EXPANSION PREMISES ONLY)

 

	
Term
	
Monthly Amount
	
Annual Amount

	
Effective Date – Aug. 31, 2021
	
$
	
5,821.08
	
 
	
N/A

	
 
	
 
	
 
	
(partial year contemplated:

	
 
	
 
	
 
	
$
	
46,568.64)

	
Sep. 1, 2021 – Aug. 31, 2022
	
$
	
5,968.32
	
$
	
71,619.84

	
Sep. 1, 2022 – Aug. 31, 2023
	
$
	
6,118.99
	
$
	
73,427.88

 

Monthly amount to be prorated on a daily basis if the Effective Date is other than the first day of a calendar month. 

EXHIBIT BExhibit 10.3

     

      KKR Acquisition Holdings I Corp.

        30 Hudson Yards, Suite 7500

      New York, NY 10001

      

      

      January 25, 2021

      KKR Acquisition Sponsor I LLC

      30 Hudson Yards, Suite 7500

      New York, NY 10001

      

      

      RE: Securities Subscription Agreement

      

      

      Ladies and Gentlemen:

      

      

      This agreement (this “Agreement”) is entered into on January 25, 2021 by and between KKR Acquisition Sponsor I LLC, a Delaware
        limited liability company (the “Subscriber” or “you”), and KKR Acquisition Holdings I Corp., a Delaware corporation (the “Company”).
        Pursuant to the terms hereof, the Company hereby accepts the offer the Subscriber has made to subscribe for and purchase 28,750,000 shares of Class B common stock, $0.0001 par value per share (the “Shares”),
        up to 3,750,000 of which are subject to forfeiture by you if the underwriters of the initial public offering (“IPO”) of units (“Units”) of the Company do not fully
        exercise their over-allotment option (the “Over-allotment Option”). The Company and the Subscriber’s agreements regarding such Shares are as follows:

      

      

      1. Subscription and Purchase of Shares. For the sum of $25,000 (the “Purchase Price”), which the Company
        acknowledges receiving in the form of a capital contribution, the Company hereby issues the Shares to the Subscriber, and the Subscriber hereby subscribes for and purchases the Shares from the Company, subject to the forfeiture provisions of
        Section 3 below, on the terms and subject to the conditions set forth in this Agreement.

      

      

      2. Representations, Warranties and Agreements.

      

      

      2.1 Subscriber’s Representations, Warranties and Agreements. To induce the Company to issue the Shares to the Subscriber, the Subscriber hereby represents and
        warrants to the Company and agrees with the Company as follows:

      

      

      2.1.1. No Government Recommendation or Approval. The Subscriber understands that no federal or state agency has passed upon or made any recommendation or
        endorsement of the offering of the Shares.

      

      

      2.1.2. No Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Subscriber of the transactions contemplated hereby do not
        violate, conflict with or constitute a default under (i) the formation and governing documents of the Subscriber, (ii) any agreement, indenture or instrument to which the Subscriber is a party, (iii) any law, statute, rule or regulation to which
        the Subscriber is subject, or (iv) any agreement, order, judgment or decree to which the Subscriber is subject.

      

      

      2.1.3. Organization and Authority. The Subscriber is a Delaware limited liability company, validly existing and in good standing under the laws of Delaware and
        possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement. Upon execution and delivery by you, this Agreement will be a legal, valid and binding agreement of Subscriber, enforceable against
        Subscriber in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance or similar laws affecting the enforcement of creditors’ rights generally and subject to general
        principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity).

      

      

      2.1.4. Experience, Financial Capability and Suitability. Subscriber is: (i) sophisticated in financial matters and is able to evaluate the risks and benefits of the
        investment in the Shares and (ii) able to bear the economic risk of its investment in the Shares for an indefinite period of time as the Shares have not been registered under the Securities Act of 1933, as amended (the “Securities Act”) and therefore cannot be sold unless subsequently registered under the Securities Act or an exemption from such registration is available. Subscriber is capable of evaluating the merits and risks of its investment in
        the Company and has the capacity to protect its own interests. Subscriber must bear the economic risk of this investment until the Shares are sold pursuant to: (x) an effective registration statement under the Securities Act or (y) an exemption
        from registration available with respect to such sale.

      
        
          

      

      2.1.5. Access to Information; Independent Investigation. Prior to the execution of this Agreement, the Subscriber has had the opportunity to ask questions of and
        receive answers from representatives of the Company concerning an investment in the Company, as well as the finances, operations, business and prospects of the Company, and the opportunity to obtain additional information to verify the accuracy of
        all information so obtained. In determining whether to make this investment, Subscriber has relied solely on Subscriber’s own knowledge and understanding of the Company and its business based upon Subscriber’s own due diligence investigation and
        the information furnished pursuant to this paragraph. Subscriber understands that no person has been authorized to give any information or to make any representations which were not furnished pursuant to this Section 2 and Subscriber has not relied
        on any other representations or information in making its investment decision, whether written or oral, relating to the Company, its operations and/or its prospects.

      

      

      2.1.6. Investment Purposes. The Subscriber is purchasing the Shares solely for investment purposes, for the Subscriber’s own account and not for the account or
        benefit of any other person, and not with a view towards the distribution or dissemination thereof in violation of the registration requirements of the Securities Act. The Subscriber did not enter into this Agreement as a result of any general
        solicitation or general advertising within the meaning of Rule 502 of Regulation D under the Securities Act.

      

      

      2.1.7. Restrictions on Transfer; Shell Company. Subscriber understands the Shares are being offered in a transaction not involving a public offering within the
        meaning of the Securities Act. Subscriber understands the Shares will be “restricted securities” as defined in Rule 144(a)(3) under the Securities Act and Subscriber understands that the certificates or book entries representing the Shares will
        contain a legend in respect of such restrictions. If in the future the Subscriber decides to offer, resell, pledge or otherwise transfer the Shares, such Shares may be offered, resold, pledged or otherwise transferred only pursuant to: (i)
        registration under the Securities Act or (ii) an available exemption from registration. Subscriber agrees that if any transfer of its Shares or any interest therein is proposed to be made, as a condition precedent to any such transfer, Subscriber
        may be required to deliver to the Company an opinion of counsel satisfactory to the Company. Absent registration or an exemption, the Subscriber agrees not to resell the Shares. Subscriber further acknowledges that because the Company is a shell
        company, Rule 144 may not be available to the Subscriber for the resale of the Shares until one year following consummation of the initial business combination of the Company, despite technical compliance with the certain requirements of Rule 144
        and the release or waiver of any contractual transfer restrictions.

      

      

      2.1.8. No Governmental Consents. No governmental, administrative or other third party consents or approvals are required or necessary on the part of Subscriber in
        connection with the transactions contemplated by this Agreement.

      

      

      2.2 Company’s Representations, Warranties and Agreements. To induce the Subscriber to subscribe for and purchase the Shares, the Company hereby represents and
        warrants to the Subscriber and agrees with the Subscriber as follows:

      

      

      2.2.1 Organization and Corporate Power. The Company is a Delaware corporation and is qualified to do business in every jurisdiction in which the failure to so
        qualify would reasonably be expected to have a material adverse effect on the financial condition, operating results or assets of the Company. The Company possesses all requisite corporate power and authority necessary to carry out the transactions
        contemplated by this Agreement.

      

      

      2.2.2. No Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions contemplated hereby do not
        violate, conflict with or constitute a default under (i) the Certificate of Incorporation or Bylaws of the Company, (ii) any agreement, indenture or instrument to which the Company is a party, (iii) any law, statute, rule or regulation to which the
        Company is subject, or (iv) any agreement, order, judgment or decree to which the Company is subject.

      

      

      2.2.3. Title to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the Shares will be duly and validly issued, fully paid and
        nonassessable. Upon issuance in accordance with, and payment pursuant to, the terms hereof the Subscriber will have or receive good title to the Shares, free and clear of all liens, claims and encumbrances of any kind, other than (i) transfer
        restrictions hereunder and other agreements to which the Shares may be subject, (ii) transfer restrictions under federal and state securities laws, and (iii) liens, claims or encumbrances imposed due to the actions of the Subscriber.

      

      

      2.2.4. No Adverse Actions. There are no actions, suits, investigations or proceedings pending, threatened against or affecting the Company which: (i) seek to
        restrain, enjoin, prevent the consummation of or otherwise affect the transactions contemplated by this Agreement or (ii) question the validity or legality of any transactions or seek to recover damages or to obtain other relief in connection with
        any transactions.

      
        
          

      

      3. Forfeiture of Shares.

      

      

      3.1. Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the representative of the underwriters of the IPO is not
        exercised in full, the Subscriber acknowledges and agrees that it shall forfeit any and all rights to such number of Shares (up to an aggregate of 3,750,000 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such
        that immediately following such forfeiture, the Subscriber (and all other initial stockholders prior to the IPO, if any) will own an aggregate number of Shares (not including Shares issuable upon exercise of any warrants or any Common Stock
        purchased by Subscriber in the IPO or in the aftermarket) equal to 20% of the issued and outstanding Common Stock immediately following the IPO.

      

      

      3.2. Termination of Rights as Stockholder. If any of the Shares are forfeited in accordance with this Section 3, then after such time the Subscriber (or successor
        in interest), shall no longer have any rights as a holder of such Shares, and the Company shall take such action as is appropriate to cancel such Shares.

      

      

      4. Waiver of Liquidation Distributions; Redemption Rights. In connection with the Shares purchased pursuant to this Agreement, the Subscriber hereby waives any and
        all right, title, interest or claim of any kind in or to any distributions by the Company from the trust account which will be established for the benefit of the Company’s public stockholders and into which substantially all of the proceeds of the
        IPO will be deposited (the “Trust Account”), in the event of a liquidation of the Company upon the Company’s failure to timely complete an initial business combination. For purposes of clarity, in the event
        the Subscriber purchases Common Stock in the IPO or in the aftermarket, any additional Common Stock so purchased shall be eligible to receive any liquidating distributions by the Company. However, in no event will the Subscriber have the right to
        redeem any Shares into funds held in the Trust Account upon the successful completion of an initial business combination.

      

      

      5. Restrictions on Transfer.

      

      

      5.1. Restrictive Legends. All certificates representing the Shares shall have endorsed thereon legends substantially as follows:

      

      

      	 	
              “THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS AND NEITHER THE SECURITIES NOR ANY INTEREST
                THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND SUCH LAWS WHICH, IN THE
                OPINION OF COUNSEL, IS AVAILABLE.”

                

              

            
	 	
              “THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO LOCKUP PROVISIONS AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE TERM OF THE LOCKUP
                PERIOD.”

                

              

            

      5.2. Additional Shares or Substituted Securities. In the event of the declaration of a stock dividend, the declaration of a special dividend payable in a form other
        than Common Stock, a spin-off, a stock split, an adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Company’s outstanding Common Stock without receipt of consideration, any new, substituted or additional
        securities or other property which are by reason of such transaction distributed with respect to any Shares subject to this Section 5 or into which such Shares thereby become convertible shall immediately be subject to this Section 5 and Section 3.
        Appropriate adjustments to reflect the distribution of such securities or property shall be made to the number or class of Shares subject to this Section 5 and Section 3.

      

      

      5.3 Registration Rights. Subscriber acknowledges that the Shares are being purchased pursuant to an exemption from the registration requirements of the Securities
        Act and will become freely tradable only after certain conditions are met or they are registered pursuant to a registration rights agreement to be entered into with the Company prior to the closing of the IPO.

      

      

      6. Other Agreements.

      

      

      6.1. Further Assurances. Subscriber agrees to execute such further instruments and to take such further action as may reasonably be necessary to carry out the
        intent of this Agreement.

      

      

      6.2. Notices. All notices, statements or other documents which are required or contemplated by this Agreement shall be in writing and delivered: (i) personally or
        sent by first class registered or certified mail, overnight courier service or facsimile or electronic transmission to the address designated in writing, (ii) by facsimile to the number most recently provided to such party or such other address or
        fax number as may be designated in writing by such party or (iii) by electronic mail, to the electronic mail address most recently provided to such party or such other electronic mail address as may be designated in writing by such party. Any
        notice or other communication so transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the business day following receipt of written confirmation, if sent by facsimile or electronic transmission, one (1)
        business day after delivery to an overnight courier service or five (5) days after mailing if sent by mail.

      
        
          

      

      6.3. Entire Agreement. This Agreement, together with that certain insider letter to be entered into between Subscriber and the Company and the registration rights
        agreement entered into among the Company and certain securityholders, each substantially in the form to be filed as an exhibit to the Registration Statement, embodies the entire agreement and understanding between the Subscriber and the Company
        with respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings relating to the subject matter hereof. No statement, representation, warranty, covenant or agreement of any kind not expressly set
        forth in this Agreement shall affect, or be used to interpret, change or restrict, the express terms and provisions of this Agreement.

      

      

      6.4. Modifications and Amendments. The terms and provisions of this Agreement may be modified or amended only by written agreement executed by all parties hereto.

      

      

      6.5. Waivers and Consents. The terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted, only by a written document
        executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether or not
        similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it was given, and shall not constitute a continuing waiver or consent.

      

      

      6.6. Assignment. The rights and obligations under this Agreement may not be assigned by either party hereto without the prior written consent of the other party.

      

      

      6.7. Benefit. All statements, representations, warranties, covenants and agreements in this Agreement shall be binding on the parties hereto and shall inure to the
        benefit of the respective successors and permitted assigns of each party hereto. Nothing in this Agreement shall be construed to create any rights or obligations except among the parties hereto, and no person or entity shall be regarded as a
        third-party beneficiary of this Agreement.

      

      

      6.8. Governing Law. This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with and governed by the laws of the
        State of New York applicable to contracts wholly performed within the borders of such state, without giving effect to the conflict of law principles thereof.

      

      

      6.9. Severability. In the event that any court of competent jurisdiction shall determine that any provision, or any portion thereof, contained in this Agreement
        shall be unreasonable or unenforceable in any respect, then such provision shall be deemed limited to the extent that such court deems it reasonable and enforceable, and as so limited shall remain in full force and effect. In the event that such
        court shall deem any such provision, or portion thereof, wholly unenforceable, the remaining provisions of this Agreement shall nevertheless remain in full force and effect.

      

      

      6.10. No Waiver of Rights, Powers and Remedies. No failure or delay by a party hereto in exercising any right, power or remedy under this Agreement, and no course
        of dealing between the parties hereto, shall operate as a waiver of any such right, power or remedy of such party. No single or partial exercise of any right, power or remedy under this Agreement by a party hereto, nor any abandonment or
        discontinuance of steps to enforce any such right, power or remedy, shall preclude such party from any other or further exercise thereof or the exercise of any other right, power or remedy hereunder. The election of any remedy by a party hereto
        shall not constitute a waiver of the right of such party to pursue other available remedies. No notice to or demand on a party not expressly required under this Agreement shall entitle the party receiving such notice or demand to any other or
        further notice or demand in similar or other circumstances or constitute a waiver of the rights of the party giving such notice or demand to any other or further action in any circumstances without such notice or demand.

      

      

      6.11. Survival of Representations and Warranties. All representations and warranties made by the parties hereto in this Agreement or in any other agreement,
        certificate or instrument provided for or contemplated hereby, shall survive the execution and delivery hereof and any investigations made by or on behalf of the parties.

      

      

      6.12. No Broker or Finder. Each of the parties hereto represents and warrants to the other that no broker, finder or other financial consultant has acted on its
        behalf in connection with this Agreement or the transactions contemplated hereby in such a way as to create any liability on the other. Each of the parties hereto agrees to indemnify and hold the other harmless from any claim or demand for
        commission or other compensation by any broker, finder, financial consultant or similar agent claiming to have been employed by or on behalf of such party and to bear the cost of legal expenses incurred in defending against any such claim.

      
        
          

      

      6.13. Headings and Captions. The headings and captions of the various sections of this Agreement are for convenience of reference only and shall in no way modify or
        affect the meaning or construction of any of the terms or provisions hereof.

      

      

      6.14. Counterparts. This Agreement may be executed in one or more counterparts, all of which when taken together shall be considered one and the same agreement and
        shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile
        transmission or any other form of electronic delivery, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such signature page were
        an original thereof.

      

      

      6.15. Construction. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. If an ambiguity or question of intent or
        interpretation arises, this Agreement will be construed as if drafted jointly by the parties hereto and no presumption or burden of proof will arise favoring or disfavoring any party hereto because of the authorship of any provision of this
        Agreement. The words “include,” “includes,” and “including” will be deemed to be followed by “without limitation.” Pronouns in masculine, feminine, and neuter genders will be construed to include any other gender, and words in the singular form will be construed to include the plural and vice versa, unless the context
        otherwise requires. The words “this Agreement,” “herein,” “hereof,” “hereby,” “hereunder,” and words of similar import refer to this Agreement as a whole and not to any particular section unless expressly so limited. The parties hereto intend that each representation, warranty, and
        covenant contained herein will have independent significance. If any party hereto has breached any representation, warranty, or covenant contained herein in any respect, the fact that there exists another representation, warranty or covenant
        relating to the same subject matter (regardless of the relative levels of specificity) which such party hereto has not breached will not detract from or mitigate the fact that such party hereto is in breach of the first representation, warranty, or
        covenant.

      

      

      7. Voting and Redemption of Shares. Subscriber agrees to vote the Shares in favor of an initial business combination that the Company negotiates and submits for
        approval to the Company’s stockholders and shall not seek redemption with respect to such Shares. Additionally, the Subscriber agrees not to redeem any Shares in connection with a redemption or tender offer presented to the Company’s stockholders
        in connection with an initial business combination negotiated by the Company.

      

      

      [Signature Page Follows]

      
        
          

      

      If the foregoing accurately sets forth our understanding and agreement, please sign the enclosed copy of this Agreement and return it to us.

       

      

      	 	
              Very truly yours,

            
	 	 
	 	
              KKR ACQUISITION HOLDINGS I CORP.

            
	 	 
	 	
              By:

            	
              /s/ Christopher Lee

            
	 	
              Name:

            	
              Christopher Lee

            
	 	
              Title:

            	
              Secretary

            

      Accepted and agreed this 25th day of January, 2021

      	
              KKR ACQUISITION SPONSOR I LLC

            	 
	 	 	 
	
              By:

            	
              /s/ Vincent Napolitano

            	 
	
              Name:

            	
              Vincent Napolitano

            	 
	
              Title:

            	
              Assistant Secretary

            	 

      

      

    

  

  [Signature Page to Subscription Agreement]

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