Document:

Exhibit 10.6

 

Execution Version

 

THE SECURITIES DESCRIBED HEREIN HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933 OR THE SECURITIES LAWS OF ANY STATE OR ANY OTHER JURISDICTION. THERE ARE FURTHER RESTRICTIONS ON THE
TRANSFERABILITY OF THE SECURITIES DESCRIBED HEREIN.

 

THE PURCHASE OF THE SECURITIES INVOLVES A HIGH
DEGREE OF RISK AND SHOULD BE CONSIDERED ONLY BY PERSONS WHO CAN BEAR THE RISK OF THE LOSS OF THEIR ENTIRE INVESTMENT.

 

SUBSCRIPTION AGREEMENT

 

This Subscription Agreement (this “Agreement”)
is entered into as of October 26, 2021 between LF Capital Acquisition Corp. II, a Delaware corporation (the “Company”),
Level Field Capital II, LLC, a Delaware limited liability company (the “Sponsor”) and                                (the “Purchaser”).

 

RECITALS

 

WHEREAS, the Company was incorporated for the purpose
of effecting a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business
combination with one or more businesses (a “Business Combination”);

 

WHEREAS, the Company has submitted confidentially with
the U.S. Securities and Exchange Commission (the “SEC”) a registration statement on Form S-1 (the “Registration
Statement”) for its initial public offering (“IPO”) of units (the “Public Units”), at
a price of $10.00 per Public Unit, each Public Unit comprised of one share of the Company’s Class A common stock, par value $0.0001
per share (“Class A Common Stock”, and the shares of Class A Common Stock included in the Public Units, the “Public
Shares”), and one-half of one redeemable warrant, where each whole warrant is initially exercisable to purchase one share of
Class A Common Stock at an exercise price of $11.50 per share, subject to adjustment (the “Warrants”, and the Warrants
included in the Public Units, the “Public Warrants”);

 

WHEREAS, proceeds from the IPO and the sale of the Private
Placement Warrants (as defined below) in an aggregate amount equal to 102% of the aggregate gross proceeds from the IPO will be deposited
into a trust account for the benefit of the holders of the Public Shares (the “Trust Account”), as described in the
Registration Statement;

 

WHEREAS, following the closing of the IPO (the “IPO
Closing”), the Company will seek to identify and consummate a Business Combination;

 

WHEREAS, in connection with the IPO, the Sponsor and
the Purchaser will purchase, in a private placement that will close simultaneously with the IPO Closing, warrants which are identical
to the Public Warrants except with respect to the transfer restrictions and registration rights described in the Registration Statement
(the “Private Placement Warrants”), for a purchase price of $1.00 per Private Placement Warrant, subject to adjustment
as set forth in Schedule A;

  

WHEREAS, the parties wish to enter into this Agreement,
pursuant to which the Purchaser shall subscribe for and purchase (i) from the Sponsor, shares of Class B common stock, par value
$0.0001 per share, of the Company (“Class B Common Stock” and collectively with the shares of Class A Common Stock,
the “Common Stock”) at the Business Combination (“Founder Shares”) and (ii) from the Company,
Private Placement Warrants to be issued at the IPO Closing (together with the Founder Shares, the “Subscribed Securities”);

 

WHEREAS, the Company and the Sponsor have entered into
or intend to concurrently with this Agreement enter into agreements (collectively, the “Subscription Agreements”) in
the form of this Agreement with certain affiliates of the Purchaser (together with the Purchaser, the “Subscribing Parties”)
for the purchase of Founder Shares and Private Placement Warrants set forth therein; and

 

     1

     

    

 

WHEREAS, the Company, the Sponsor and the Subscribing
Parties intend for the purchase of Founder Shares and Private Placement Warrants as set forth herein to be made pursuant to Section 4(a)(1)
and Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), respectively.

  

NOW, THEREFORE, in consideration of the premises, representations,
warranties and the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt, sufficiency
and adequacy of which are hereby acknowledged, the parties hereto agree as follows:

 

AGREEMENT

 

1.             Sale and Purchase.

 

(a)           Securities.

 

(i)          Subject to the terms and conditions hereof,
the Purchaser hereby irrevocably subscribes for and agrees to purchase from the Company, and the Company agrees to issue and sell to the
Purchaser, the number of Private Placement Warrants set forth on Schedule A hereto for the aggregate purchase price set forth
on Schedule A hereto (the “Initial Warrant Purchase Price”).

 

(ii)         On the Business Combination Closing (as
defined below), the Purchaser shall purchase from the Sponsor, and the Sponsor shall transfer and sell to the Purchaser, the number of
Founder Shares set forth on Schedule A hereto for the aggregate purchase price set forth on Schedule A hereto
(subject to adjustment as set forth in Section 2 below), by wire transfer of immediately available funds or other means approved
by the Sponsor. If the Business Combination Closing has not occurred by the date that is 15 months from the IPO Closing (or 18 months
from the IPO Closing if the Company has executed a letter of intent, agreement in principle or definitive agreement for its initial business
combination within 15 months from the IPO Closing but has not completed its initial business combination within such 15 month period)
or any stockholder-approved extension period (including pursuant to an amendment of the Company’s certificate of incorporation or
in connection with any Extension Election (as defined in the Registration Statement)), then no purchase of Founder Shares shall occur
pursuant to this Section 1(a)(ii).

 

(iii)        The
Purchaser acknowledges that the Subscribed Securities, and any securities of the Company that may be distributed to the Purchaser on account
of the Subscribed Securities (collectively, the “Securities”), will be subject to restrictions on transfer as set forth
in this Agreement.

 

(iv)       The Company shall notify the
Purchaser in writing of the anticipated date of the effectiveness of the Registration Statement (the “Effective Date”)
at least three (3) Business Days (as defined below) prior to the Effective Date, and the Purchaser shall remit the Initial Warrant Purchase
Price to the Company’s transfer agent (to be held in escrow pending the IPO Closing), by wire transfer of immediately available
funds or other means approved by the Company, on the date that is one (1) Business Day prior to the Effective Date, or such other date
as the Company and the Purchaser may agree upon in writing; provided, however, that if the actual number of Public Units offered
and sold in the IPO is less than 20,000,000 or greater than 40,000,000, then the Purchaser shall not be obligated to remit the Initial
Warrant Purchase Price as set forth in this Section 1(a)(iv) and any of the Purchaser, the Company or the Sponsor may in its sole
discretion terminate this Agreement, and this Agreement shall then be of no further force or effect. As used herein, “Business
Day” means any day, other than a Saturday or a Sunday, that is neither a legal holiday nor a day on which banking institutions
are generally authorized or required by law or regulation to close in the City of New York, New York. If the IPO Closing has not occurred
by the date that is seven (7) Business Days after the date on which the Purchaser remitted the Initial Warrant Purchase Price to
the Company’s transfer agent, then, unless the Purchaser otherwise agrees in writing, the Company will promptly cause its transfer
agent to return such amounts to the Purchaser. If the IPO Closing has not occurred by January 31, 2022, this Agreement shall terminate
and be of no further force or effect.

 

     2

     

    

 

(v)         In
the event that the underwriters’ over-allotment option in connection with the IPO (the “Over-allotment Option”)
is exercised, the Purchaser agrees to purchase additional Founder Shares as indicated on Schedule A at a price per share. The additional
Founder Shares shall be purchased on the date of the Business Combination Closing.

 

(vi)        On
the date of the IPO Closing, the Company shall issue to the Purchaser the number of Private Placement Warrants set forth on Schedule
A hereto.

 

(b)           Closing
Conditions. The Purchaser’s obligation to purchase the Subscribed Securities and the Sponsor’s and the Company’s
obligation to sell the Subscribed Securities to the Purchaser is conditioned upon satisfaction of the following conditions precedent (any
or all of which may be waived by each of the Company, the Sponsor and the Purchaser in its sole discretion with respect to the other parties’
conditions):

 

(i)               
On the IPO Closing or the Business Combination Closing, as applicable, no legal, administrative or
regulatory action, suit or proceeding shall be pending which seeks to restrain or prohibit the transactions contemplated by this Agreement;

 

(ii)             
The representations and warranties of the Company and the Sponsor contained in this Agreement shall
have been true and correct on the date of this Agreement and shall be true and correct on the IPO Closing or the Business Combination
Closing, as applicable, as if made on the date of such closing (other than the representations and warranties set forth in Sections 4(b)
and 4(h) hereof, which shall be true and correct as of the IPO Closing); and 

 

(iii)            
The representations and warranties of the Purchaser contained in this Agreement shall have been true
and correct on the date of this Agreement and shall be true and correct on the IPO Closing and the Business Combination Closing, as applicable,
as if made on the date of such closing. 

 

(c)          Delivery of Securities.

 

(i)          The Company shall register the Purchaser
as the owner of the Subscribed Securities with the Company’s transfer agent by book entry upon the purchase thereof (provided that
prior to the Company’s appointment of a transfer agent it shall register the Purchaser as the owner of such securities in the Company’s
stock ledger upon the purchase thereof).

 

(ii)          Each register and book entry for the Securities
shall contain a notation, and each certificate (if any) evidencing the Securities shall be stamped or otherwise imprinted with a legend
(in addition to any other required legends, as applicable), in substantially the following form:

 

“THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION, AND MAY NOT
BE TRANSFERRED IN VIOLATION OF SUCH ACT AND LAWS.

 

THE SALE, PLEDGE, HYPOTHECATION, OR TRANSFER OF THE SECURITIES
REPRESENTED HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS OF A CERTAIN SUBSCRIPTION AGREEMENT BY AND AMONG THE HOLDER AND THE OTHER PARTIES
THERETO. COPIES OF SUCH AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY.”

 

     3

     

    

 

(d)           Legend
Removal. Following the expiration of the transfer restrictions set forth in Section 6(a), if the Securities are eligible
to be sold without restriction under, and without the Company being in compliance with the current public information requirements of,
Rule 144 under the Securities Act, or if they are registered for resale under the Securities Act pursuant to a shelf registration
statement, then at the Purchaser’s written request, the Company will use commercially reasonable efforts to cause the Company’s
transfer agent to remove the legend set forth in Section 1(c)(ii), subject to compliance by the Purchaser with the reasonable
and customary procedures for such removal required by the Company or its transfer agent. In connection therewith, if required by the Company’s
transfer agent, the Company will promptly cause an opinion of counsel to be delivered to and maintained with its transfer agent, together
with any other authorizations, certificates and directions required by the transfer agent that authorize and direct the transfer agent
to issue such Securities without any such legend.

 

(e)           Registration Rights. On the Effective Date,
the Company shall enter into a Registration Rights Agreement (the “Registration Rights Agreement”) with the Sponsor,
the Subscribing Parties and certain other parties thereto, in substantially the form provided to the Purchaser prior to the date hereof.
The Registration Rights Agreement shall provide the Purchaser with registration rights with respect to the Subscribed Securities that
are no less favorable to the Purchaser than the registration rights of the Sponsor set forth therein.

 

2.             Potential Forfeiture.The Purchaser agrees that
if, in connection with a Business Combination, the Sponsor decides (i) to forfeit, transfer to a third person, exchange, subject to transfer,
vesting or conditional forfeiture provisions or amend the terms of all or any portion of the Founder Shares and/or the Private Placement
Warrants (or the Sponsor’s membership interests representing an interest in any of the foregoing) or (ii) to enter into any other
arrangements with respect to the Founder Shares and/or the Private Placement Warrants (or the Sponsor’s membership interests representing
an interest in any of the foregoing), including voting in favor of any amendment to the terms of the Founder Shares and/or the Private
Placement Warrants (each, a “Change in Investment”), such Change in Investment shall apply pro rata to the Purchaser
and the Sponsor based on the relative number of Founder Shares and/or Private Placement Warrants to be held by each on the Business Combination
Closing; provided, however that in no event shall such Change in Investment apply to more than 25% of the Founder Shares to be purchased
by the Purchaser and/or 25% of the Private Placement Warrants held by the Purchaser. The Purchaser agrees to take all steps and execute
all such agreements as may be necessary or reasonably requested by the Sponsor to effectuate such Change in Investment on the same terms
as applicable to the Sponsor. By way of example and without limiting the foregoing, in the event the Sponsor agrees to (x) forfeit 10%
of its Private Placement Warrants and 10% of its Founder Shares as part of the Business Combination, the Purchaser also would be obligated
to forfeit 10% of its Private Placement Warrants and 10% of its Founder Shares, or (y) transfer 50% of its Private Placement Warrants
and 50% of its Founder Shares as part of the Business Combination, the Purchaser would only be obligated to transfer 25% of its Private
Placement Warrants and forfeit 25% of its Founder Shares because in no event shall a Change in Investment apply to more than 25% of the
Founder Shares to be purchased by the Purchaser and/or 25% of the Private Placement Warrants held by the Purchaser.

 

3.             Representations and Warranties of the Purchaser.
The Purchaser represents and warrants to the Company as follows, as of the date hereof:

 

(a)           Organization and Power. The Purchaser is
duly organized, validly existing, and in good standing under the laws of the jurisdiction of its formation and has all requisite power
and authority to carry on its business as presently conducted and as proposed to be conducted.

 

(b)           Authorization. The Purchaser has full power
and authority to enter into this Agreement. This Agreement, when executed and delivered by the Purchaser, will constitute the valid and
legally binding obligation of the Purchaser, enforceable against the Purchaser in accordance with its terms, except (i) as limited
by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance and any other laws of general application affecting
enforcement of creditors’ rights generally or (ii) as limited by laws relating to the availability of specific performance,
injunctive relief or other equitable remedies.

 

(c)           Governmental Consents and Filings. No consent,
approval, order or authorization of, or registration, qualification, designation, declaration or filing with, any federal, state or local governmental
authority is required on the part of the Purchaser in connection with the consummation of the transactions contemplated by this Agreement,
except for filings pursuant to applicable securities laws, rules or regulations.

 

     4

     

    

 

(d)           Compliance with Other Instruments. The execution,
delivery and performance by the Purchaser of this Agreement and the consummation by the Purchaser of the transactions contemplated by
this Agreement will not result in any violation or default (i) under any provisions of its organizational documents, (ii) under
any instrument, judgment, order, writ or decree to which it is a party or by which it is bound, (iii) under any note, indenture or
mortgage to which it is a party or by which it is bound, (iv) under any lease, agreement, contract or purchase order to which it
is a party or by which it is bound or (v) under any provision of federal or state statute, rule or regulation applicable to
the Purchaser, in each case (other than clause (i)), which would have a material adverse effect on the Purchaser’s ability to consummate
the transactions contemplated by this Agreement.

 

(e)            Purchase Entirely for Own Account. This Agreement
is made with the Purchaser in reliance upon the Purchaser’s representation to the Company, which by the Purchaser’s execution
of this Agreement, the Purchaser hereby confirms, that the Securities to be acquired by the Purchaser will be acquired for investment
for the Purchaser’s own account, not as a nominee or agent, and not with a view to the resale or distribution of any part thereof
in violation of any state or federal securities laws, and that the Purchaser has no present intention of selling, granting any participation
in, or otherwise distributing the same in violation of law. By executing this Agreement, the Purchaser further represents that the Purchaser
does not presently have any contract, undertaking, agreement or arrangement with any Person (other than the Company) to sell, transfer
or grant participations to such Person or to any third Person, with respect to any of the Securities. For purposes of this Agreement,
“Person” means an individual, a limited liability company, a partnership, a joint venture, a corporation, a trust,
an unincorporated organization, any other entity or any government or any department or agency thereof.

 

(f)            Disclosure of Information. The Purchaser
has had an opportunity to discuss the Company’s business, management, financial affairs and the terms and conditions of the offering
of the Securities, as well as the terms of the Company’s proposed IPO, with the Company’s management.

 

(g)           Restricted Securities. The Purchaser understands
that the offer and sale of the Securities to the Purchaser has not been and will not be registered under the Securities Act, by reason
of a specific exemption from the registration provisions of the Securities Act which depends upon, among other things, the bona fide nature
of the investment intent and the accuracy of the Purchaser’s representations as expressed herein. The Purchaser understands that
the Securities are “restricted securities” under applicable U.S. federal and state securities laws and that, pursuant to these
laws, the Purchaser must hold the Securities indefinitely unless they are registered with the SEC and qualified by state authorities,
or an exemption from such registration and qualification requirements is available. The Purchaser acknowledges that the Company has no
obligation to register or qualify the Securities except pursuant to the Registration Rights Agreement. The Purchaser further acknowledges
that if an exemption from registration or qualification is available, it may be conditioned on various requirements including, but not
limited to, the time and manner of sale, the holding period for the Securities, and on requirements relating to the Company which
are outside of the Purchaser’s control, and which the Company is under no obligation and may not be able to satisfy. The Purchaser
acknowledges that the Company has confidentially submitted the Registration Statement for its proposed IPO. The Purchaser understands
that the offering of Securities and transactions contemplated hereunder are not and are not intended to be part of the IPO, and that the
Purchaser will not be able to rely on the protection of Section 11 of the Securities Act with respect to its purchase of Securities
hereunder.

 

(h)           No Public Market. The Purchaser understands
that no public market now exists for the Securities, and that the Company has not made any assurances that a public market will ever exist
for the Securities.

 

(i)           
High Degree of Risk. The Purchaser understands that the purchase of the Subscribed Securities involves a high degree of risk which
could cause the Purchaser to lose all or part of its investment.

 

(j)            Accredited Investor.
The Purchaser is an accredited investor as defined in Rule 501(a) of Regulation D promulgated under the Securities Act.

 

(k)            No General Solicitation. Neither the Purchaser,
nor any of its officers, directors, employees, agents, stockholders or partners has either directly or indirectly, including, through
a broker or finder (i) to its knowledge, engaged in any general solicitation, or (ii) published any advertisement in connection
with the offer and sale of the Securities.

 

     5

     

    

 

(l)             Place of Investment Decision. The Purchaser’s
investment decision was made in the office or offices located at the address of the Purchaser set forth on the signature page hereof.

 

(m)          Adequacy of Financing. The Purchaser
will, when such funds are due hereunder, have sufficient funds to satisfy its obligations under this Agreement.

 

(o)           No Other Representations and Warranties; Non-Reliance.
Except for the specific representations and warranties contained in this Section 3 and in any certificate or agreement
delivered pursuant hereto, none of the Purchaser nor any person acting on behalf of the Purchaser nor any of the Purchaser’s affiliates
(the “Purchaser Parties”) has made, makes or shall be deemed to make any other express or implied representation or
warranty with respect to the Purchaser and this offering, and the Purchaser Parties disclaim any such representation or warranty. Except
for the specific representations and warranties expressly made by the Company and the Sponsor in Section 4 and Section
5 of this Agreement, respectively, and in any certificate or agreement delivered pursuant hereto, the Purchaser Parties specifically
disclaim that they are relying upon any other representations or warranties that may have been made by the Company, any person on behalf
of the Company or any of the Company’s affiliates (collectively, the “Company Parties”) or by the Sponsor, any
person on behalf of the Sponsor or any of the Sponsor’s affiliates (collectively, the “Sponsor Parties”) with
respect to the transactions contemplated hereby.

 

4.            Representations, Warranties and Covenants of the
Company. The Company represents, warrants and covenants to the Purchaser as follows:

 

(a)           Organization and Corporate Power. The Company
is incorporated and validly existing and in good standing as a corporation under the laws of Delaware and has all requisite corporate
power and authority to carry on its business as presently conducted and as proposed to be conducted.

 

(b)           Capitalization. The authorized share capital
of the Company consists, as of the date hereof, of:

 

(i)          100,000,000
shares of Class A Common Stock, none of which are issued and outstanding;

 

(ii)         10,000,000 shares of Class B Common Stock,
6,468,750 of which are issued and outstanding and held by the Sponsor. All of the outstanding shares of Class B Common Stock have been
duly authorized, are fully paid and nonassessable and were issued in compliance with all applicable federal and state securities laws.

 

(iii)        1,000,000 shares of preferred stock,
none of which are issued and outstanding.

 

(c)           Authorization. All corporate action required
to be taken by the Company’s Board of Directors and stockholders in order to authorize the Company to enter into this Agreement,
and to issue the Subscribed Securities, has been taken on or prior to the date hereof. All action on the part of the stockholders, directors
and officers of the Company necessary for the execution and delivery of this Agreement, the performance of all obligations of the Company
under this Agreement, and the issuance and delivery of the Subscribed Securities has been taken on or prior to the date hereof. This Agreement,
when executed and delivered by the Company, shall constitute the valid and legally binding obligation of the Company, enforceable against
the Company in accordance with its terms except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium,
fraudulent conveyance, or other laws of general application relating to or affecting the enforcement of creditors’ rights generally
or (ii) as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies.

 

     6

     

    

 

(d)           Valid Issuance of Private Placement Warrants.

 

(i)          The Private Placement Warrants, when issued,
sold and delivered in accordance with the terms and for the consideration set forth in this Agreement, will be validly issued and fully
paid, as applicable, and free of all preemptive or similar rights, taxes, liens, encumbrances and charges with respect to the issue thereof
and restrictions on transfer other than restrictions on transfer specified under this Agreement, applicable state and federal securities
laws and liens or encumbrances created by or imposed by the Purchaser. Assuming the accuracy of the representations of the Purchaser in
this Agreement and subject to the filings described in Section 4(e) below, the Private Placement Warrants will
be issued in compliance with all applicable federal and state securities laws, rules and regulations.

 

(ii)          No “bad actor” disqualifying
event described in Rule 506(d)(1)(i)-(viii) of the Securities Act (a “Disqualification Event”) is applicable
to the Company or, to the Company’s knowledge, any Company Covered Person (as defined below), except for a Disqualification Event
as to which Rule 506(d)(2)(ii–iv) or (d)(3), is applicable. “Company Covered Person” means, with respect
to the Company as an “issuer” for purposes of Rule 506 promulgated under the Securities Act, any Person listed in the
first paragraph of Rule 506(d)(1).

 

(e)            IPO.
The offers and sales of securities in the IPO will be made pursuant to an effective Registration Statement and otherwise in compliance
with the Securities Act and the rules and regulations promulgated thereunder and applicable state securities laws, rules and regulations.

 

(f)            Governmental Consents and Filings. Assuming
the accuracy of the representations made by the Purchaser in this Agreement, no consent, approval, order or authorization of, or registration,
qualification, designation, declaration or filing with, any federal, state or local governmental authority is required on the part of
the Company in connection with the consummation of the transactions contemplated by this Agreement, except for filings pursuant to Regulation
D of the Securities Act and applicable state securities laws, if any.

 

(g)           Compliance with Other Instruments. The execution,
delivery and performance of this Agreement and the consummation of the transactions contemplated by this Agreement will not result in
any violation or default (i) under any provisions of the certificate of incorporation, bylaws or other governing documents of the
Company, (ii) under any instrument, judgment, order, writ or decree to which the Company is a party or by which it is bound, (iii) under
any note, indenture or mortgage to which the Company is a party or by which it is bound, (iv) under any lease, agreement, contract
or purchase order to which the Company is a party or by which it is bound or (v) under any provision of federal or state statute,
rule or regulation applicable to the Company, in each case (other than clause (i)) which would have a material adverse effect on
the Company or its ability to consummate the transactions contemplated by this Agreement.

 

(h)           Operations. As of the date hereof, the Company
has not conducted, and prior to the IPO Closing the Company will not conduct, any operations other than organizational activities and
activities in connection with offerings of the Securities.

 

(i)             Foreign Corrupt Practices. Neither the Company,
nor any director, officer, agent, employee or other Person acting on behalf of the Company has, in the course of its actions for, or on
behalf of, the Company (i) used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expenses
relating to political activity; (ii) made any direct or indirect unlawful payment to any foreign or domestic government official
or employee from corporate funds; (iii) violated or is in violation of any provision of the U.S. Foreign Corrupt Practices Act of
1977, as amended; or (iv) made any unlawful bribe, rebate, payoff, influence payment, kickback or other unlawful payment to any foreign
or domestic government official or employee.

 

(j)            Compliance with Anti-Money Laundering Laws.
The operations of the Company are and have been conducted at all times in compliance with applicable financial recordkeeping and reporting
requirements and all other applicable U.S. and non-U.S. anti-money laundering laws and regulations, including, but not limited to, those
of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the USA Patriot Act of 2001 and the applicable money laundering
statutes of all applicable jurisdictions, the rules and regulations thereunder and any related or similar rules, regulations or guidelines,
issued, administered or enforced by any governmental agency (collectively, the “Anti-Money Laundering Laws”), and no
action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company with
respect to the Anti-Money Laundering Laws is pending or, to the knowledge of the Company, threatened.

 

     7

     

    

 

(k)           Absence of Litigation. There is no action,
suit, proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body
pending or, to the knowledge of the Company, threatened against or affecting the Company or any of the Company’s officers or directors,
whether of a civil or criminal nature or otherwise, in their capacities as such.

 

(l)            No General Solicitation. Neither the Company
nor any of its officers has either directly or indirectly, including, through a broker or finder (i) engaged in any general solicitation
or (ii) published any advertisement in connection with the offer and sale of the Subscribed Securities.

 

(m)           Non-Public Information. The Company represents
and warrants that none of the information conveyed to the Purchaser in connection with the transactions contemplated by this Agreement
will constitute material non-public information of the Company upon the effectiveness of the Registration Statement.

 

(n)            No Other Representations and Warranties; Non-Reliance.
Except for the specific representations and warranties contained in this Section 4 and in any certificate or agreement
delivered pursuant hereto, none of the Company Parties has made, makes or shall be deemed to make any other express or implied representation
or warranty with respect to the Company or the offering of Securities hereunder, and the Company Parties disclaim any such representation
or warranty. Except for the specific representations and warranties expressly made by the Purchaser in Section 3 of
this Agreement and in any certificate or agreement delivered pursuant hereto, the Company Parties specifically disclaim that they are
relying upon any other representations or warranties that may have been made by the Purchaser Parties.

 

5.             Representations,
Warranties and Covenants of the Sponsor. The Sponsor represents, warrants and covenants as follows:

 

(a)           Organization
and Power. The Sponsor is duly organized, validly existing, and in good standing under the laws of its jurisdiction of its formation
and has all requisite power and authority to carry on its business as presently conducted and as proposed to be conducted.

 

(b)           Authorization.
The Sponsor has full power and authority to enter into this Agreement. This Agreement, when executed and delivered by the Sponsor, will
constitute the valid and legally binding obligation of the Sponsor, enforceable against the Sponsor in accordance with its terms, except
(i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance and any other laws of general application
affecting enforcement of creditors’ rights generally or (ii) as limited by laws relating to the availability of specific performance,
injunctive relief or other equitable remedies.

 

(c)           Encumbrances.
The Founder Shares to be sold to the Purchaser (i) are owned by the Sponsor free and clear of any security interests, liens, claims or
other encumbrances, subject only to restrictions upon transfer under the Securities Act and any applicable state securities laws and as
described in the Registration Statement, (ii) are subject to certain transfer restrictions as set forth in the Registration Statement,
and (iii) will not subject the Purchaser to personal liability upon its acquisition of such Founder Shares by reason of being a holder
of such Founder Shares.

 

(d)           No Other
Representations and Warranties; Non-Reliance. Except for the specific representations and warranties contained in this Section 5 and
in any certificate or agreement delivered pursuant hereto, none of the Sponsor Parties has made, makes or shall be deemed to make any
other express or implied representation or warranty with respect to the Sponsor or the offering of Securities hereunder, and the Sponsor
Parties disclaim any such representation or warranty. Except for the specific representations and warranties expressly made by the Purchaser
in Section 3 of this Agreement and in any certificate or agreement delivered pursuant hereto, the Sponsor Parties
specifically disclaim that they are relying upon any other representations or warranties that may have been made by the Purchaser Parties.

 

(e)           Most Favored Nation.Except with respect
to the contemplated sale by the Sponsor of 20,000 Founder Shares to each of the Company’s independent directors and the contemplated
sale by the Company of certain Private Placement Warrants to each of Jefferies LLC and the Sponsor (each, as set forth in the Registration
Statement), none of the Sponsor, the Company or any of their affiliates will enter into any arrangement, agreement or understanding containing
terms relating to the subscription of the Founder Shares and/or the Private Placement Warrants that are more favorable to the counterparty
or offeree than the terms set forth in the Agreement.

 

     8

     

    

 

6.             Additional Agreements and Acknowledgements of
the Purchaser.

 

(a)            Transfer Restrictions. The Purchaser agrees
that, except for Transfers (as defined below) to third parties required pursuant to Section 2 above, it shall not Transfer (i) any Founder
Shares or any shares of Class A Common Stock issuable upon conversion thereof until the earlier of (A) one year after the closing
of the Business Combination (the “Business Combination Closing”) and (B) the date following the Business Combination
Closing on which the Company completes a liquidation, merger, capital stock exchange or other similar transaction that results in all
of the Company’s stockholders having the right to exchange their Common Stock for cash, securities or other property (such period,
the “Lock-up Period”) or (ii) any Private Placement Warrants (or any shares of Common Stock issuable upon exercise
of the Private Placement Warrants) until 30 days after the Business Combination Closing. Notwithstanding the foregoing, if subsequent
to the Business Combination Closing, the last reported sale price of the Class A Common Stock equals or exceeds $12.00 per share (as adjusted
for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any twenty (20) trading days within any thirty
(30) trading day period commencing at least one hundred and fifty (150) days after the Business Combination Closing, the Founder Shares
shall be released from the lockup referenced in this Section 6(a). Notwithstanding the first sentence hereinabove, Transfers of
the Securities are permitted (i) to the Company’s officers or directors, any affiliates or family members of any of the Company’s
officers or directors, any members or partners of the Sponsor or their affiliates, any affiliates of the Sponsor, or any employees of
such affiliates; (ii) in the case of an individual, by gift to a member of one of the individual’s immediate family or to a
trust, the beneficiary of which is a member of the individual’s immediate family, an affiliate of such person or to a charitable
organization; (iii) in the case of an individual, by virtue of laws of descent and distribution upon death of the individual; (iv) in
the case of an individual, pursuant to a qualified domestic relations order; (v) by private sales or transfers made in connection
with any forward purchase agreement or similar arrangement or in connection with the consummation of a Business Combination at prices
no greater than the price at which the applicable Securities were originally purchased; (vi) by virtue of the Purchaser’s organizational
documents upon liquidation or dissolution of the Purchaser; (vii) to the Company for no value for cancellation in connection with the
consummation of the Business Combination; (viii) in the event of the Company’s liquidation prior to the completion of the Business
Combination; (ix) in the event of the Company’s liquidation, merger, stock exchange, reorganization or other similar transaction
which results in all of the Company’s public shareholders having the right to exchange their Class A Common Stock for cash, securities
or other property subsequent to the Company’s completion of the Business Combination; and (x) to the Purchaser’s affiliates,
to any investment fund or other entity controlled or managed by the Purchaser, or to any investment manager or investment advisor of the
Purchaser or an affiliate of any such investment manager or investment advisor or to any investment fund or other entity controlled or
managed by such persons (each of the foregoing, a “Permitted Transferee”); provided, however, that in the case of clauses
(i) through (vi) and (x) these Permitted Transferees must enter into a written agreement agreeing to be bound by the terms of this
Agreement, including these transfer restrictions. As used in this Agreement, “Transfer” shall mean the (x) sale
or assignment of, offer to sell, contract or agreement to sell, hypothecation, pledge, grant of any option to purchase or otherwise dispose
of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation with respect
to or decrease of a call equivalent position (within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”), and the rules and regulations of the SEC promulgated thereunder) with respect to, any of
the Securities; (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 any of the Securities, 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); provided
further, that this Section 6(a) shall not prohibit the Purchaser from effecting a Short Sale (as defined below) with securities
that do not constitute “Securities” under this Agreement.

 

(b)           Trust Account.

 

(i)           The Purchaser hereby acknowledges that
it is aware that the Company will establish the Trust Account for the benefit of its public stockholders upon the IPO Closing. The Purchaser
hereby agrees that it has no right, title, interest or claim of any kind in or to any monies held in the Trust Account, or any other asset
of the Company as a result of any liquidation of the Company, except for redemption and liquidation rights, if any, the Purchaser may
have in respect of any Public Shares held by it.

 

     9

     

    

 

(ii)         The Purchaser hereby agrees that it shall
have no right of set-off or any right, title, interest or claim of any kind (“Claim”) to, or to any monies in,
the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account that it may have now or in the future,
except for redemption and liquidation rights, if any, the Purchaser may have in respect of any Public Shares held by it. In the event
the Purchaser has any Claim against the Company under this Agreement, the Purchaser shall pursue such Claim solely against the Company
and its assets outside the Trust Account and not against the property or any monies in the Trust Account, except for redemption and liquidation
rights, if any, the Purchaser may have in respect of any Public Shares held by it.

 

(c)           No
Short Sales. The Purchaser hereby agrees that neither it, nor any person or entity acting on its behalf, will engage in any Short
Sales with respect to securities of the Company prior to the closing of the Business Combination. For purposes of this Section 6(c),
“Short Sales” shall include, without limitation, all “short sales” as defined in Rule 200 promulgated under Regulation
SHO under the Exchange Act, and all types of direct and indirect stock pledges (other than pledges in the ordinary course of business
as part of prime brokerage arrangements), forward sale contracts, options, puts, calls, swaps and similar arrangements (including on a
total return basis). Notwithstanding anything to the contrary set forth herein, (i) nothing herein shall prohibit any entities under common
management or that share an investment advisor with the Purchaser that have no knowledge of this Agreement or of the Purchaser’s
participation in the transactions contemplated in this Agreement (including the Purchaser’s controlled affiliates and/or other affiliates)
from entering into any Short Sales and (ii) in the case of a Purchaser that is a multi-managed investment vehicle whereby separate portfolio
managers manage separate portions of such Purchaser’s assets and the portfolio managers have no knowledge of the investment decisions
made by the portfolio managers managing other portions of such Purchaser’s assets, this Section 6(c) shall only apply with respect
to the portion of assets managed by the portfolio manager that made the investment decision to purchase the amount of Subscribed Securities
pursuant to this Agreement. The Company acknowledges and agrees that, notwithstanding anything herein to the contrary, the Subscribed
Securities may be pledged by the Purchaser in connection with a bona fide margin agreement, provided that such pledge shall be (i) pursuant
to an available exemption from the registration requirements of the Securities Act or (ii) pursuant to, and in accordance with, a registration
statement that is effective under the Securities Act at the time of such pledge, and the Purchaser effecting a pledge of Subscribed Securities
shall not be required to provide the Company with any notice thereof; provided, however, that neither the Company nor its counsel shall
be required to take any action (or refrain from taking any action) in connection with any such pledge, other than providing any such lender
of such margin agreement with an acknowledgment that the Subscribed Securities may be subject to contractual lock ups or prohibition on
pledging (including specifically, but not by limitation, an acknowledgment that the Founder Shares are subject to such lock-up periods
as are described in the Registration Statement), the form of such acknowledgment to be subject to review and comment by the Company in
all respects. Notwithstanding the foregoing, Subscriber shall not pledge the Subscribed Securities unless the terms of such pledge permit
or require that voting control over any such pledged Subscribed Securities remains within the sole control of Subscriber.

 

(d)           Use of Purchaser’s Name. Neither the
Company nor the Sponsor will, without the written consent of the Purchaser in each instance, use in advertising, publicity or otherwise
the name of the Purchaser or any of its affiliates, or any director, officer or employee of the Purchaser, nor any trade name, trademark,
trade device, service mark, symbol or any abbreviation, contraction or simulation thereof owned by the Purchaser or its affiliates or
any information relating to the business or operations of the Purchaser or its affiliates (including, for the avoidance of doubt, any
investment vehicles, funds or accounts managed thereby). Notwithstanding the foregoing, the Company may disclose (i) the Purchaser’s
name and information concerning the Purchaser (A) to the extent required by law, regulation or regulatory request, including in the
Registration Statement or (B) to the Company’s lawyers, independent accountants and to other advisors and service providers
who reasonably require the Purchaser’s information in connection with the provision of services to the Company, are advised of the
confidential nature of such information and are obligated to keep such information confidential, and (ii) the Purchaser’s name
and the terms of this Agreement to the other Subscription Parties. The Company and the Sponsor agree to provide to the Purchaser for the
Purchaser’s review any disclosure in any registration statement, proxy statement or other document in advance of the submission,
filing or disclosure of such document in connection with the transactions contemplated by this Agreement with respect to the Purchaser
or any of its affiliates, and will not make any such submission, filing or disclosure without including any revisions reasonably requested
in writing by the Purchaser or to the extent the Purchaser has a good faith objection to such submission, filing or disclosure.

 

 

     10

     

    

 

(e)           Stock Exchange Listing. The Company will
use commercially reasonable efforts to effect and maintain the listing of the Class A Common Stock and Warrants on The Nasdaq Global Market
(or another national securities exchange) until the third anniversary of the Business Combination Closing.

 

7.             General Provisions.

 

(a)                
Notices. All notices and other communications given or made pursuant to this Agreement shall
be in writing and shall be deemed effectively given upon the earlier of actual receipt, or (i) personal delivery to the party to
be notified, (ii) when sent, if sent by electronic mail or facsimile (if any) during normal business hours of the recipient, and
if not sent during normal business hours, then on the recipient’s next Business Day, (iii) five (5) Business Days after
having been sent by registered or certified mail, return receipt requested, postage prepaid, or (iv) one (1) Business Day after
deposit with a nationally recognized overnight courier, freight prepaid, specifying next Business Day delivery, with written verification
of receipt. All communications sent to the Company shall be sent to: LF Capital Acquisition Corp. II, 1909 Woodall Rodgers Freeway, Suite
500, Dallas, TX 75201, Attention: President, Chief Executive Officer, Email: sreed@lfcapital.com, with a copy to Dechert LLP, 1095 6th
Avenue, New York, NY 10036, Attention: Martin Nussbaum and Thomas Friedmann, Email: martin.nussbaum@dechert.com and
thomas.freidmann@dechert.com.

 

All
communications to the Purchaser shall be sent to the Purchaser’s address as set forth on the signature page hereto, or to such
email address, facsimile number (if any) or address as subsequently modified by written notice given in accordance with this Section 7(a).

 

(b)           No Finder’s
Fees. Each party represents that it neither is nor will be obligated for any finder’s fee or commission in connection with this
transaction. The Purchaser agrees to indemnify and to hold harmless the Company from any liability for any commission or compensation
in the nature of a finder’s or broker’s fee arising out of this transaction (and the costs and expenses of defending against
such liability or asserted liability) for which the Purchaser or any of its officers, employees or representatives are responsible. The
Company agrees to indemnify and hold harmless the Purchaser from any liability for any commission or compensation in the nature of a finder’s
or broker’s fee arising out of this transaction (and the costs and expenses of defending against such liability or asserted liability)
for which the Company or any of its officers, employees or representatives is responsible.

 

(c)           Survival.
All of the representations and warranties contained herein, and the provisions of Section 2 hereof, shall survive the consummation of
the transactions contemplated by this Agreement.

 

(d)           Entire
Agreement. This Agreement, together with any other documents, instruments and writings that are delivered pursuant hereto or referenced
herein, constitutes the entire agreement and understanding of the parties hereto in respect of its subject matter and supersedes all prior
understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any way to
the subject matter hereof or the transactions contemplated hereby.

  

(e)           Successors.
All of the terms, agreements, covenants, representations, warranties, and conditions of this Agreement are binding upon, and inure to
the benefit of and are enforceable by, the parties hereto and their respective successors. Nothing in this Agreement, express or implied,
is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations
or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

 

(f)            Assignments.
Except as otherwise specifically provided herein, no party hereto may assign either this Agreement or any of its rights, interests, or
obligations hereunder without the prior written approval of the other party.

 

     11

     

    

 

(g)           Counterparts.
This Agreement may be executed in two or more counterparts, each of which will be deemed an original but all of which together will constitute
one and the same instrument.

 

(h)           Headings.
The section headings contained in this Agreement are inserted for convenience only and will not affect in any way the meaning or interpretation
of this Agreement.

 

(i)            Governing
Law. This Agreement, the entire relationship of the parties hereto, and any litigation between the parties (whether grounded in contract,
tort, statute, law or equity) shall be governed by, construed in accordance with, and interpreted pursuant to the laws of the State of
New York, without giving effect to its choice of laws principles.

 

(j)            Jurisdiction.
The parties hereby irrevocably and unconditionally (i) submit to the jurisdiction of the state courts of New York and the United
States District Court for the Southern District of New York for the purpose of any suit, action or other proceeding arising out of or
based upon this Agreement, (ii) agree not to commence any suit, action or other proceeding arising out of or based upon this Agreement
except in state courts of New York or the United States District Court for the Southern District of New York, and (iii) waive, and
agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject
personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that the
suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this
Agreement or the subject matter hereof may not be enforced in or by such court.

 

(k)           WAIVER
OF JURY TRIAL. THE PARTIES HERETO HEREBY WAIVE ANY RIGHT TO A JURY TRIAL IN CONNECTION WITH ANY LITIGATION PURSUANT TO THIS AGREEMENT
AND THE TRANSACTIONS CONTEMPLATED HEREBY.

 

(l)            Amendments.
This Agreement may not be amended, modified or waived as to any particular provision, except with the prior written consent of the Company
and the Purchaser.

 

(m)          Severability.
The provisions of this Agreement will be deemed severable and the invalidity or unenforceability of any provision will not affect the
validity or enforceability of the other provisions hereof; provided that if any provision of this Agreement, as applied to any party hereto
or to any circumstance, is adjudged by a governmental authority, arbitrator, or mediator not to be enforceable in accordance with its
terms, the parties hereto agree that the governmental authority, arbitrator, or mediator making such determination will have the power
to modify the provision in a manner consistent with its objectives such that it is enforceable, and/or to delete specific words or phrases,
and in its reduced form, such provision will then be enforceable and will be enforced.

 

(n)           Expenses.
Each of the Company, the Sponsor and the Purchaser will bear its own costs and expenses incurred in connection with the preparation, execution
and performance of this Agreement and the consummation of the transactions contemplated hereby, including all fees and expenses of agents,
representatives, financial advisors, legal counsel and accountants, except that the Sponsor will be responsible for the Purchaser’s
legal fees in an amount up to $50,000 (less any such legal fees for which the Sponsor reimbursed the Purchaser prior to the date hereof).
The Company shall be responsible for the fees of its transfer agent, stamp taxes and all of The Depository Trust Company’s fees
associated with the issuance of the Securities and the securities issuable upon conversion or exercise of the Securities.

 

     12

     

    

 

(o)           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. Any reference
to any federal, state, local, or foreign law will be deemed also to refer to law as amended and all rules and regulations promulgated
thereunder, unless the context requires otherwise. 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 subdivision 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.

 

(p)           Waiver.
No waiver by any party hereto of any default, misrepresentation, or breach of warranty or covenant hereunder, whether intentional or not,
may be deemed to extend to any prior or subsequent default, misrepresentation, or breach of warranty or covenant hereunder or affect in
any way any rights arising because of any prior or subsequent occurrence.

 

(q)           Specific
Performance. Each party hereto agrees that irreparable damage may occur in the event any provision of this Agreement was not performed
by the other party hereto in accordance with the terms hereof and that the such party shall be entitled to specific performance of the
terms hereof, in addition to any other remedy at law or equity.

 

(r)            No
Third-Party Beneficiaries. This Agreement is for the sole benefit of the parties hereto (and their respective successors and permitted
assigns) and nothing herein, express or implied, is intended to or shall confer upon any other person any legal or equitable right, benefit
or remedy of any nature whatsoever under or by reason of this Agreement.

 

(s)            Confidentiality.
Except as may be required by law, regulation or applicable stock exchange listing requirements (but subject in any case to the provisions
of Section 6(d) hereof), unless and until the transactions contemplated hereby and the terms hereof are publicly announced
or otherwise publicly disclosed by the Company, the parties hereto shall keep confidential and shall not publicly disclose the existence
or terms of this Agreement. Notwithstanding the foregoing, the Purchaser shall be permitted to disclose any information to its affiliates
and its and their respective directors, officers, employees, advisors, director or indirect owners, agents and representatives, in each
case so long as such person or entity has been advised of the confidentiality obligations hereunder; provided that the Purchaser shall
be liable for any breach of such confidentiality obligations by any such person or entity.

 

[Signature page follows]

 

     13

     

    

 

IN WITNESS WHEREOF, the undersigned have executed
this Agreement to be effective as of the date first set forth above.

 

	 	COMPANY:
	 	 
	 	LF CAPITAL ACQUISITION CORP. II
	 	 
	 	By:	
	 	Name: 	Scott Reed
	 	Title: 	Chief Executive Officer
	 	 
	 	SPONSOR:
	 	 
	 	LEVEL FIELD CAPITAL II, LLC
	 	 
	 	By:	LEVEL FIELD PARTNERS II, LLC,

its managing member
	 	 	 
	 	By:	LEVEL FIELD MANAGEMENT II, LLC,

its managing member
	 	 	 
	 	By:	
	 	 	Name: Elias Farhat
	 	 	Title: Member
	 	 	 
	 	By:	
	 	 	Name: Djemi Traboulsi
	 	 	Title: Member

  

[Signature Page to Subscription Agreement]

 

    

     

    

 

	 	PURCHASER:
	 	 
	 	By: BlackRock Financial Management Inc., in its capacity as investment advisor
	 	 
	 	
	 	Name: Christopher Biasotti
	 	Title: Authorized Signatory

  

	 	Purchaser’s Address for Notices:
	 	 
	 	c/o BlackRock Financial Management, Inc.

55 East 52nd Street

New York, NY 10055

Attn: Christopher Biasotti 

with copies to:

c/o BlackRock, Inc.

Office of the General Counsel

40 East 52nd Street, New York, NY 10022

Attn: David Maryles and Reid Fitzgerald

Email: legaltransactions@blackrock.com 

And

Kramer Levin Naftalis & Frankel LLP

1177 Avenue of the Americas

New York, NY 10036

Attn: Christopher S. Auguste

Email: cauguste@kramerlevin.com

 

[Signature Page to Subscription Agreement]

 

    

     

    

 

Schedule A

  

	 	 	Number of

Subscribed Securities*	 	 	Initial Purchase Price	 
	Founder Shares	 	 	 	$	 	 
	Private Placement Warrants	 	 	 	$		 

 

*In the event that the Over-allotment Option is exercised, the Purchaser
agrees to purchase up to an additional $                  of Founder Shares at a price of $                      per share (or up to                   Founder Shares), in the same proportion
as the amount of the Over-allotment Option that is exercised.Exhibit 10.7

 

FORM OF INDEMNITY
AGREEMENT

 

THIS INDEMNITY AGREEMENT
(this “Agreement”) is made as of November 16, 2021, by and between LF Capital Acquisition Corp. II, a
Delaware corporation (the “Company”), and the undersigned (“Indemnitee”).

 

RECITALS

 

WHEREAS, highly
competent persons have become more reluctant to serve publicly-held corporations as directors, officers or in other capacities
unless they are provided with adequate protection through insurance or adequate indemnification against inordinate risks of claims
and actions against them arising out of their service to and activities on behalf of such corporations;

 

WHEREAS, the Board
of Directors of the Company (the “Board”) has determined that, in order to attract and retain qualified
individuals, the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons
serving the Company and its subsidiaries from certain liabilities;

 

WHEREAS, directors,
officers and other persons in service to corporations or business enterprises are being increasingly subjected to expensive and
time-consuming litigation relating to, among other things, matters that traditionally would have been brought only against the
Company or business enterprise itself;

 

WHEREAS, the Amended
and Restated Certificate of Incorporation (the “Charter”) and the Bylaws (the “Bylaws”)
of the Company require indemnification of the officers and directors of the Company. Indemnitee may also be entitled to indemnification
pursuant to applicable provisions of the Delaware General Corporation Law (the “DGCL”). The Charter,
Bylaws and the DGCL expressly provide that the indemnification provisions set forth therein are not exclusive, and thereby contemplate
that contracts may be entered into between the Company and members of the Board, officers and other persons with respect to indemnification,
hold harmless, exoneration, advancement and reimbursement rights;

 

WHEREAS, the uncertainties
relating to such insurance and to indemnification have increased the difficulty of attracting and retaining such persons;

 

WHEREAS, the Board
has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests of the
Company’s stockholders and that the Company should act to assure such persons that there will be increased certainty of such
protection in the future;

 

WHEREAS, it is reasonable,
prudent and necessary for the Company contractually to obligate itself to indemnify, hold harmless, exonerate and to advance expenses
on behalf of, such persons to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company
free from undue concern that they will not be so protected against liabilities;

 

WHEREAS, this Agreement
is a supplement to and in furtherance of the Charter and Bylaws and any resolutions adopted pursuant thereto, and shall not be
deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder; and

 

WHEREAS, Indemnitee
may not be willing to serve as an officer or director, advisor or in another capacity without adequate protection, and the Company
desires Indemnitee to serve in such capacity. Indemnitee is willing to serve, continue to serve and to take on additional service
for or on behalf of the Company on the condition that Indemnitee be so indemnified.

 

    	 

    	 

    

 

NOW, THEREFORE,
in consideration of the premises and the covenants contained herein and subject to the provisions of the letter agreement dated
as of November 16, 2021 between the Company and Indemnitee pursuant to the Underwriting Agreement between the Company and the Underwriter
in connection with the Company’s initial public offering, the Company and Indemnitee do hereby covenant and agree as follows:

 

TERMS AND CONDITIONS

 

1.                 
SERVICES TO THE COMPANY. In consideration of the
Company’s covenants and obligations hereunder, Indemnitee will serve or continue to serve as an officer, director, advisor,
key employee or in any other capacity of the Company, as applicable, for so long as Indemnitee is duly elected, appointed or retained
or until Indemnitee tenders Indemnitee’s resignation or until Indemnitee is removed. The foregoing notwithstanding, this
Agreement shall continue in full force and effect after Indemnitee has ceased to serve as a director, officer, advisor, key employee
or in any other capacity of the Company, in each case as provided in Section 17. This Agreement, however, shall not impose any
obligation on Indemnitee or the Company to continue Indemnitee’s service to the Company beyond any period otherwise required
by law or by other agreements or commitments of the parties, if any.

 

2.                 
DEFINITIONS. As used in this Agreement:

 

(a)               
References to “agent” shall mean any person who is or was a director,
officer or employee of the Company or a subsidiary of the Company or other person authorized by the Company to act for the Company,
to include such person serving in such capacity as a director, officer, employee, advisor, fiduciary or other official of another
corporation, partnership, limited liability company, joint venture, trust or other enterprise at the request of, for the convenience
of, or to represent the interests of the Company or a subsidiary of the Company.

 

(b)              
The terms “Beneficial Owner” and “Beneficial Ownership”
shall have the meanings set forth in Rule 13d-3 promulgated under the Exchange Act (as defined below) as in effect on the date
hereof.

 

(c)               
A “Change in Control” shall be deemed to occur upon the earliest
to occur after the date of this Agreement of any of the following events:

 

(i)                
Acquisition of Stock by Third Party. Other than Level Field Capital II, LLC (the “Sponsor”)
or any of its affiliates, any Person (as defined below) is or becomes the Beneficial Owner, directly or indirectly, of securities
of the Company representing fifteen percent (15%) or more of the combined voting power of the Company’s then outstanding
securities entitled to vote generally in the election of directors, unless (1) the change in the relative Beneficial Ownership
of the Company’s securities by any Person (as defined below) results solely from a reduction in the aggregate number of outstanding
shares of securities entitled to vote generally in the election of directors, or (2) such acquisition was approved in advance by
the Continuing Directors (as defined below) and such acquisition would not constitute a Change in Control under part (iii) of this
definition;

 

(ii)              
Change in Board of Directors. Individuals who, as of the date hereof, constitute the
Board, and any new director whose election by the Board or nomination for election by the Company’s stockholders was approved
by a vote of at least two thirds of the directors then still in office who were directors on the date hereof or whose election
for nomination for election was previously so approved (collectively, the “Continuing Directors”), cease
for any reason to constitute at least a majority of the members of the Board;

 

    	2

    	 

    

 

(iii)            
Corporate Transactions. The effective date of a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business combination, involving the Company and one or more businesses (a
“Business Combination”), in each case, unless, following such Business Combination: (1) all or substantially
all of the individuals and entities who were the Beneficial Owners of securities entitled to vote generally in the election of
directors immediately prior to such Business Combination beneficially own, directly or indirectly, more than 51% of the combined
voting power of the then outstanding securities of the Company entitled to vote generally in the election of directors resulting
from such Business Combination (including, without limitation, a corporation which as a result of such transaction owns the Company
or all or substantially all of the Company’s assets either directly or through one or more Subsidiaries (as defined below))
in substantially the same proportions as their ownership immediately prior to such Business Combination, of the securities entitled
to vote generally in the election of directors; (2) other than an affiliate of the Sponsor, no Person (excluding any corporation
resulting from such Business Combination) is the Beneficial Owner, directly or indirectly, of fifteen percent (15%) or more of
the combined voting power of the then outstanding securities entitled to vote generally in the election of directors of the surviving
corporation except to the extent that such ownership existed prior to the Business Combination; and (3) at least a majority of
the Board of Directors of the corporation resulting from such Business Combination were Continuing Directors at the time of the
execution of the initial agreement, or of the action of the Board of Directors, providing for such Business Combination;

 

(iv)            
Liquidation. The approval by the stockholders of the Company of a complete liquidation
of the Company or an agreement or series of agreements for the sale or disposition by the Company of all or substantially all of
the Company’s assets, other than factoring the Company’s current receivables or escrows due (or, if such stockholder
approval is not required, the decision by the Board to proceed with such a liquidation, sale, or disposition in one transaction
or a series of related transactions); or

 

(v)              
Other Events. There occurs any other event of a nature that would be required to be
reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or any successor rule) (or a response to any similar item
on any similar schedule or form) promulgated under the Exchange Act (as defined below), whether or not the Company is then subject
to such reporting requirement.

 

(d)              
“Corporate Status” describes the status of a person who is or was
a director, officer, trustee, general partner, manager, managing member, fiduciary, employee or agent of the Company or of any
other Enterprise (as defined below) which such person is or was serving at the request of the Company.

 

(e)               
“Delaware Court” shall mean the Court of Chancery of the State of
Delaware.

 

(f)               
“Disinterested Director” shall mean a director of the Company who
is not and was not a party to the Proceeding (as defined below) in respect of which indemnification is sought by Indemnitee.

 

(g)               
“Enterprise” shall mean the Company and any other corporation, constituent
corporation (including any constituent of a constituent) absorbed in a consolidation or merger to which the Company (or any of
its wholly owned subsidiaries) is a party, limited liability company, partnership, joint venture, trust, employee benefit plan
or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, officer, trustee, general
partner, manager, managing member, fiduciary, employee or agent.

 

(h)              
“Exchange Act” shall mean the Securities Exchange Act of 1934, as
amended.

 

    	3

    	 

    

 

(i)                
“Expenses” shall include all direct and indirect costs, fees and
expenses of any type or nature whatsoever, including, without limitation, all reasonable attorneys’ fees and costs, retainers,
court costs, transcript costs, fees of experts, witness fees, travel expenses, fees of private investigators and professional advisors,
duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, fax transmission charges, secretarial
services and all other disbursements, obligations or expenses in connection with prosecuting, defending, preparing to prosecute
or defend, investigating, being or preparing to be a witness in, settlement or appeal of, or otherwise participating in, a Proceeding
(as defined below), including reasonable compensation for time spent by Indemnitee for which he or she is not otherwise compensated
by the Company or any third party. “Expenses” also shall include expenses incurred in connection with any appeal resulting
from any Proceeding (as defined below), including without limitation the principal, premium, security for, and other costs relating
to any cost bond, supersedeas bond, or other appeal bond or its equivalent. “Expenses,” however, shall not include
amounts paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee.

 

(j)                
References to “fines” shall include any excise tax assessed on Indemnitee
with respect to any employee benefit plan; references to “serving at the request of the Company” shall
include any service as a director, officer, employee, agent or fiduciary of the Company which imposes duties on, or involves services
by, such director, officer, employee, agent or fiduciary with respect to an employee benefit plan, its participants or beneficiaries;
and if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in the best interests of the participants
and beneficiaries of an employee benefit plan, Indemnitee shall be deemed to have acted in a manner “not opposed to
the best interests of the Company” as referred to in this Agreement.

 

(k)              
“Independent Counsel” shall mean a law firm or a member of a law
firm with significant experience in matters of corporate law and that neither presently is, nor in the past five years has been,
retained to represent: (i) the Company or Indemnitee in any matter material to either such party (other than with respect to matters
concerning Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements); or (ii) any other
party to the Proceeding (as defined below) giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing,
the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct
then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s
rights under this Agreement.

 

(l)                
The term “Person” shall have the meaning as set forth in Sections
13(d) and 14(d) of the Exchange Act as in effect on the date hereof; provided, however, that “Person”
shall exclude: (i) the Company; (ii) any Subsidiaries (as defined below) of the Company; (iii) any employment benefit plan of the
Company or of a Subsidiary (as defined below) of the Company or of any corporation owned, directly or indirectly, by the stockholders
of the Company in substantially the same proportions as their ownership of stock of the Company; and (iv) any trustee or other
fiduciary holding securities under an employee benefit plan of the Company or of a Subsidiary (as defined below) of the Company
or of a corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their
ownership of stock of the Company.

 

(m)            
The term “Proceeding” shall include any threatened, pending or completed
action, suit, arbitration, mediation, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or
any other actual, threatened or completed proceeding, whether brought in the right of the Company or otherwise and whether of a
civil (including intentional or unintentional tort claims), criminal, administrative or investigative or related nature, in which
Indemnitee was, is, will or might be involved as a party or otherwise by reason of the fact that Indemnitee is or was a director
or officer of the Company, by reason of any action (or failure to act) taken by Indemnitee or of any action (or failure to act)
on Indemnitee’s part while acting as a director or officer of the Company, or by reason of the fact that Indemnitee is or
was serving at the request of the Company as a director, officer, trustee, general partner, manager, managing member, fiduciary,
employee or agent of any other Enterprise, in each case whether or not serving in such capacity at the time any liability or expense
is incurred for which indemnification, reimbursement, or advancement of expenses can be provided under this Agreement.

 

    	4

    	 

    

 

(n)              
The term “Subsidiary,” with respect to any Person, shall mean any
corporation, limited liability company, partnership, joint venture, trust or other entity of which a majority of the voting power
of the voting equity securities or equity interest is owned, directly or indirectly, by that Person.

 

3.                 
INDEMNITY IN THIRD-PARTY PROCEEDINGS. To the fullest
extent permitted by applicable law, the Company shall indemnify, hold harmless and exonerate Indemnitee in accordance with the
provisions of this Section 3 if Indemnitee was, is, or is threatened to be made, a party to or a participant (as a witness, deponent
or otherwise) in any Proceeding, other than a Proceeding by or in the right of the Company to procure a judgment in its favor by
reason of Indemnitee’s Corporate Status. Pursuant to this Section 3, Indemnitee shall be indemnified, held harmless and exonerated
against all Expenses, judgments, liabilities, fines, penalties and amounts paid in settlement (including all interest, assessments
and other charges paid or payable in connection with or in respect of such Expenses, judgments, liabilities, fines, penalties and
amounts paid in settlement) actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with such
Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed
to be in or not opposed to the best interests of the Company and, in the case of a criminal Proceeding, had no reasonable cause
to believe that Indemnitee’s conduct was unlawful.

 

4.                 
INDEMNITY IN PROCEEDINGS BY OR IN THE RIGHT OF THE COMPANY.
To the fullest extent permitted by applicable law, the Company shall indemnify, hold harmless and exonerate Indemnitee in accordance
with the provisions of this Section 4 if Indemnitee was, is, or is threatened to be made, a party to or a participant (as a witness,
deponent or otherwise) in any Proceeding by or in the right of the Company to procure a judgment in its favor by reason of Indemnitee’s
Corporate Status. Pursuant to this Section 4, Indemnitee shall be indemnified, held harmless and exonerated against all Expenses
actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with such Proceeding or any claim,
issue or matter therein, if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed
to the best interests of the Company. No indemnification, hold harmless or exoneration for Expenses shall be made under this Section
4 in respect of any claim, issue or matter as to which Indemnitee shall have been finally adjudged by a court to be liable to the
Company, unless and only to the extent that any court of competent jurisdiction in which the Proceeding was brought or the Delaware
Court shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the
case, Indemnitee is fairly and reasonably entitled to indemnification, to be held harmless or to exoneration.

 

5.                 
INDEMNIFICATION FOR EXPENSES OF A PARTY WHO IS WHOLLY OR PARTLY SUCCESSFUL.
Notwithstanding any other provisions of this Agreement except for Section 27, to the extent that Indemnitee was or is, by reason
of Indemnitee’s Corporate Status, a party to (or a participant in) and is successful, on the merits or otherwise, in any
Proceeding or in defense of any claim, issue or matter therein, in whole or in part, the Company shall, to the fullest extent permitted
by applicable law, indemnify, hold harmless and exonerate Indemnitee against all Expenses actually and reasonably incurred by Indemnitee
in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise,
as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall, to the fullest extent permitted
by applicable law, indemnify, hold harmless and exonerate Indemnitee against all Expenses actually and reasonably incurred by Indemnitee
or on Indemnitee’s behalf in connection with each successfully resolved claim, issue or matter. If Indemnitee is not wholly
successful in such Proceeding, the Company also shall, to the fullest extent permitted by applicable law, indemnify, hold harmless
and exonerate Indemnitee against all Expenses reasonably incurred in connection with a claim, issue or matter related to any claim,
issue, or matter on which Indemnitee was successful. For purposes of this Section and without limitation, the termination of any
claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result
as to such claim, issue or matter.

 

    	5

    	 

    

 

6.                 
INDEMNIFICATION FOR EXPENSES OF A WITNESS. Notwithstanding
any other provision of this Agreement and except for Section 27, to the extent that Indemnitee is, by reason of Indemnitee’s
Corporate Status, a witness or deponent in any Proceeding to which Indemnitee was or is not a party or threatened to be made a
party, Indemnitee shall, to the fullest extent permitted by applicable law, be indemnified, held harmless and exonerated against
all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith.

 

7.                 
ADDITIONAL INDEMNIFICATION, HOLD HARMLESS AND EXONERATION RIGHTS.

 

(a)               
Notwithstanding any limitation in Sections 3, 4, or 5 and except for Section 27, the Company
shall, to the fullest extent permitted by applicable law, indemnify, hold harmless and exonerate Indemnitee if Indemnitee is a
party to or threatened to be made a party to any Proceeding (including a Proceeding by or in the right of the Company to procure
a judgment in its favor) against all Expenses, judgments, liabilities, fines, penalties and amounts paid in settlement (including
all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments, liabilities,
fines, penalties and amounts paid in settlement) actually and reasonably incurred by Indemnitee in connection with the Proceeding.
No indemnification, hold harmless or exoneration rights shall be available under this Section 7(a) on account of Indemnitee’s
conduct which constitutes a breach of Indemnitee’s duty of loyalty to the Company or its stockholders or is an act or omission
not in good faith or which involves intentional misconduct or a knowing violation of the law.

 

(b)              
Notwithstanding any limitation in Sections 3, 4, 5 or 7(a), except for Section 27, the Company
shall, to the fullest extent permitted by applicable law, indemnify, hold harmless and exonerate Indemnitee if Indemnitee is a
party to or threatened to be made a party to any Proceeding (including a Proceeding by or in the right of the Company to procure
a judgment in its favor) against all Expenses, judgments, liabilities, fines, penalties and amounts paid in settlement (including
all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments, liabilities,
fines, penalties and amounts paid in settlement) actually and reasonably incurred by Indemnitee in connection with the Proceeding.

 

8.                 
CONTRIBUTION IN THE EVENT OF JOINT LIABILITY.

 

(a)               
To the fullest extent permissible under applicable law, if the indemnification, hold harmless
and/or exoneration rights provided for in this Agreement are unavailable to Indemnitee in whole or in part for any reason whatsoever,
the Company, in lieu of indemnifying, holding harmless or exonerating Indemnitee, shall pay, in the first instance, the entire
amount incurred by Indemnitee, whether for judgments, liabilities, fines, penalties, amounts paid or to be paid in settlement and/or
for Expenses, in connection with any Proceeding without requiring Indemnitee to contribute to such payment, and the Company hereby
waives and relinquishes any right of contribution it may have at any time against Indemnitee.

 

(b)              
The Company shall not enter into any settlement of any Proceeding in which the Company is
jointly liable with Indemnitee (or would be if joined in such Proceeding) unless such settlement provides for a full and final
release of all claims asserted against Indemnitee.

 

    	6

    	 

    

 

(c)               
The Company hereby agrees to fully indemnify, hold harmless and exonerate Indemnitee from
any claims for contribution which may be brought by officers, directors or employees of the Company other than Indemnitee who may
be jointly liable with Indemnitee.

 

9.                 
EXCLUSIONS. Notwithstanding any provision in this
Agreement, except for Section 27, the Company shall not be obligated under this Agreement to make any indemnification, advance
of expenses, hold harmless or exoneration payment in connection with any claim made against Indemnitee:

 

(a)               
for which payment has actually been received by or on behalf of Indemnitee under any insurance
policy, contract, agreement or other indemnity or advancement provision or otherwise, except with respect to any excess beyond
the amount actually received under any insurance policy, contract, agreement, other indemnity or advancement provision or otherwise;

 

(b)              
for an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee
of securities of the Company within the meaning of Section 16(b) of the Exchange Act (or any successor rule) or similar provisions
of state statutory law or common law; or

 

(c)               
except as otherwise provided in Sections 14(f)-(g) hereof, prior to a Change in Control, in
connection with any Proceeding (or any part of any Proceeding) initiated by Indemnitee, including any Proceeding (or any part of
any Proceeding) initiated by Indemnitee against the Company or its directors, officers, employees or other indemnitees, unless
(i) the Board authorized the Proceeding (or any part of any Proceeding) prior to its initiation or (ii) the Company provides the
indemnification, advance of expenses, hold harmless or exoneration payment, in its sole discretion, pursuant to the powers vested
in the Company under applicable law. Indemnitee shall seek payments or advances from the Company only to the extent that such payments
or advances are unavailable from any insurance policy of the Company covering Indemnitee.

 

10.             
ADVANCES OF EXPENSES; DEFENSE OF CLAIM.

 

(a)               
Notwithstanding any provision of this Agreement to the contrary, except for Section 27, and
to the fullest extent not prohibited by applicable law, the Company shall pay the Expenses incurred by Indemnitee (or reasonably
expected by Indemnitee to be incurred by Indemnitee within three months) in connection with any Proceeding within ten (10) days
after the receipt by the Company of a statement or statements requesting such advances from time to time, prior to the final disposition
of any Proceeding. Advances shall, to the fullest extent permitted by law, be unsecured and interest free. Advances shall, to the
fullest extent permitted by law, be made without regard to Indemnitee’s ability to repay the Expenses and without regard
to Indemnitee’s ultimate entitlement to be indemnified, held harmless or exonerated under the other provisions of this Agreement.
Advances shall include any and all reasonable Expenses incurred pursuing a Proceeding to enforce this right of advancement, including
Expenses incurred preparing and forwarding statements to the Company to support the advances claimed. To the fullest extent required
by applicable law, such payments of Expenses in advance of the final disposition of the Proceeding shall be made only upon the
Company’s receipt of an undertaking, by or on behalf of Indemnitee, to repay the advanced amounts to the extent that it is
ultimately determined that Indemnitee is not entitled to be indemnified, held harmless or exonerated by the Company under the provisions
of this Agreement, the Charter, the Bylaws, applicable law or otherwise. This Section 10(a) shall not apply to any claim made by
Indemnitee for which an indemnification, advance of expenses, hold harmless or exoneration payment is excluded pursuant to Section
9.

 

(b)              
The Company will be entitled to participate in the Proceeding at its own expense.

 

    	7

    	 

    

 

(c)               
The Company shall not settle any action, claim or Proceeding (in whole or in part) which would
impose any Expense, judgment, liability, fine, penalty or limitation on Indemnitee without Indemnitee’s prior written consent.

 

11.             
PROCEDURE FOR NOTIFICATION AND APPLICATION FOR INDEMNIFICATION.

 

(a)               
Indemnitee agrees to notify promptly the Company in writing upon being served with any summons,
citation, subpoena, complaint, indictment, information or other document relating to any Proceeding, claim, issue or matter therein
which may be subject to indemnification, hold harmless or exoneration rights, or advancement of Expenses covered hereunder. The
failure of Indemnitee to so notify the Company shall not relieve the Company of any obligation which it may have to Indemnitee
under this Agreement, or otherwise.

 

(b)              
Indemnitee may deliver to the Company a written application to indemnify, hold harmless or
exonerate Indemnitee in accordance with this Agreement. Such application(s) may be delivered from time to time and at such time(s)
as Indemnitee deems appropriate in Indemnitee’s sole discretion. Following such a written application for indemnification
by Indemnitee, Indemnitee’s entitlement to indemnification shall be determined according to Section 12(a) of this Agreement.

 

12.             
PROCEDURE UPON APPLICATION FOR INDEMNIFICATION.

 

(a)               
A determination, if required by applicable law, with respect to Indemnitee’s entitlement
to indemnification shall be made in the specific case by one of the following methods, which shall be at the election of Indemnitee:
(i) if no Change in Control has occurred (x) by a majority vote of the Disinterested Directors, even though less than a quorum
of the Board, (y) by a committee of Disinterested Directors, even though less than a quorum of the Board, or (z) if there are no
Disinterested Directors or if such Disinterested Directors so direct, by Independent Counsel in a written opinion to the Board,
a copy of which shall be delivered to Indemnitee; or (ii) if a Change in Control has occurred, by Independent Counsel in a written
opinion to the Board, a copy of which shall be delivered to Indemnitee. The Company promptly will advise Indemnitee in writing
with respect to any determination that Indemnitee is or is not entitled to indemnification, including a description of any reason
or basis for which indemnification has been denied. If it is so determined that Indemnitee is entitled to indemnification, payment
to Indemnitee shall be made within ten (10) days after such determination. Indemnitee shall reasonably cooperate with the person,
persons or entity making such determination with respect to Indemnitee’s entitlement to indemnification, including providing
to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise
protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination. Any costs
or Expenses (including reasonable attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating with the person,
persons or entity making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee’s
entitlement to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom.

 

(b)              
In the event the determination of entitlement to indemnification is to be made by Independent
Counsel pursuant to Section 12(a) hereof, the Independent Counsel shall be selected as provided in this Section 12(b). The Independent
Counsel shall be selected by Indemnitee (unless Indemnitee shall request that such selection be made by the Board), and Indemnitee
shall give written notice to the Company advising it of the identity of the Independent Counsel so selected and certifying that
the Independent Counsel so selected meets the requirements of “Independent Counsel” as defined in Section 2 of this
Agreement. If the Independent Counsel is selected by the Board, the Company shall give written notice to Indemnitee advising Indemnitee
of the identity of the Independent Counsel so selected and certifying that the Independent Counsel so selected meets the requirements
of “Independent Counsel” as defined in Section 2 of this Agreement. In either event, Indemnitee or the Company, as
the case may be, may, within ten (10) days after such written notice of selection shall have been received, deliver to the Company
or to Indemnitee, as the case may be, a written objection to such selection; provided, however, that such objection may be asserted
only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent Counsel”
as defined in Section 2 of this Agreement, and the objection shall set forth with particularity the factual basis of such assertion.
Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If such written objection is so
made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection
is withdrawn or a court of competent jurisdiction has determined that such objection is without merit. If, within twenty (20) days
after submission by Indemnitee of a written request for indemnification pursuant to Section 11(b) hereof, no Independent Counsel
shall have been selected and not objected to, either the Company or Indemnitee may petition the Delaware Court for resolution of
any objection which shall have been made by the Company or Indemnitee to the other’s selection of Independent Counsel and/or
for the appointment as Independent Counsel of a person selected by the Delaware Court, and the person with respect to whom all
objections are so resolved or the person so appointed shall act as Independent Counsel under Section 12(a) hereof. Upon the due
commencement of any judicial proceeding or arbitration pursuant to Section 14(a) of this Agreement, Independent Counsel shall be
discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of professional conduct
then prevailing).

 

    	8

    	 

    

 

(c)               
The Company agrees to pay the reasonable fees and expenses of Independent Counsel and to fully
indemnify and hold harmless such Independent Counsel against any and all Expenses, claims, liabilities and damages arising out
of or relating to this Agreement or its engagement pursuant hereto.

 

13.             
PRESUMPTIONS AND EFFECT OF CERTAIN PROCEEDINGS.

 

(a)               
In making a determination with respect to entitlement to indemnification hereunder, the person,
persons or entity making such determination shall presume that Indemnitee is entitled to indemnification under this Agreement if
Indemnitee has submitted a request for indemnification in accordance with Section 11(b) of this Agreement, and the Company shall
have the burden of proof to overcome that presumption in connection with the making by any person, persons or entity of any determination
contrary to that presumption. Neither the failure of the Company (including by the Disinterested Directors or Independent Counsel)
to have made a determination prior to the commencement of any action pursuant to this Agreement that indemnification is proper
in the circumstances because Indemnitee has met the applicable standard of conduct, nor an actual determination by the Company
(including by the Disinterested Directors or Independent Counsel) that Indemnitee has not met such applicable standard of conduct,
shall be a defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct.

 

(b)              
If the person, persons or entity empowered or selected under Section 12 of this Agreement
to determine whether Indemnitee is entitled to indemnification shall not have made a determination within thirty (30) days after
receipt by the Company of the request therefor, the requisite determination of entitlement to indemnification shall, to the fullest
extent permitted by law, be deemed to have been made and Indemnitee shall be entitled to such indemnification, absent (i) a misstatement
by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially
misleading, in connection with the request for indemnification, or (ii) a final judicial determination that any or all such indemnification
is expressly prohibited under applicable law; provided, however, that such 30-day period may be extended for a reasonable time,
not to exceed an additional fifteen (15) days, if the person, persons or entity making the determination with respect to entitlement
to indemnification in good faith requires such additional time for the obtaining or evaluating of documentation and/or information
relating thereto.

 

    	9

    	 

    

 

(c)               
The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order,
settlement or conviction, or upon a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided
in this Agreement) of itself adversely affect the right of Indemnitee to indemnification or create a presumption that Indemnitee
did not act in good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of
the Company or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to believe that Indemnitee’s
conduct was unlawful.

 

(d)              
For purposes of any determination of good faith, Indemnitee shall be deemed to have acted
in good faith if Indemnitee’s action is based on the records or books of account of the Enterprise, including financial statements,
or on information supplied to Indemnitee by the directors, manager, or officers of the Enterprise in the course of their duties,
or on the advice of legal counsel for the Enterprise, its Board, any committee of the Board or any director, trustee, general partner,
manager or managing member, or on information or records given or reports made to the Enterprise, its Board, any committee of the
Board or any director, trustee, general partner, manager or managing member, by an independent certified public accountant or by
an appraiser or other expert selected by the Enterprise, its Board, any committee of the Board or any director, trustee, general
partner, manager or managing member. The provisions of this Section 13(d) shall not be deemed to be exclusive or to limit in any
way the other circumstances in which Indemnitee may be deemed or found to have met the applicable standard of conduct set forth
in this Agreement.

 

(e)               
The knowledge and/or actions, or failure to act, of any other director, officer, trustee,
partner, manager, managing member, fiduciary, agent or employee of the Enterprise shall not be imputed to Indemnitee for purposes
of determining the right to indemnification under this Agreement.

 

14.             
REMEDIES OF INDEMNITEE.

 

(a)               
In the event that (i) a determination is made pursuant to Section 12 of this Agreement that
Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement of Expenses, to the fullest extent permitted
by applicable law, is not timely made pursuant to Section 10 of this Agreement, (iii) no determination of entitlement to indemnification
shall have been made pursuant to Section 12(a) of this Agreement within thirty (30) days after receipt by the Company of the request
for indemnification, (iv) payment of indemnification is not made pursuant to Sections 5, 6, 7 or the last sentence of Section 12(a)
of this Agreement within ten (10) days after receipt by the Company of a written request therefor, (v) a contribution payment is
not made in a timely manner pursuant to Section 8 of this Agreement, (vi) payment of indemnification pursuant to Section 3 or 4
of this Agreement is not made within ten (10) days after a determination has been made that Indemnitee is entitled to indemnification,
or (vii) payment to Indemnitee pursuant to any hold harmless or exoneration rights under this Agreement or otherwise is not made
within ten (10) days after receipt by the Company of a written request therefor, Indemnitee shall be entitled to an adjudication
by the Delaware Court to such indemnification, hold harmless, exoneration, contribution or advancement rights. Alternatively, Indemnitee,
at Indemnitee’s option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the Commercial
Arbitration Rules and Mediation Procedures of the American Arbitration Association. Except as set forth herein, the provisions
of Delaware law (without regard to its conflict of laws rules) shall apply to any such arbitration. The Company shall not oppose
Indemnitee’s right to seek any such adjudication or award in arbitration.

 

(b)              
In the event that a determination shall have been made pursuant to Section 12(a) of this Agreement
that Indemnitee is not entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 14
shall be conducted in all respects as a de novo trial, or arbitration, on the merits, and Indemnitee shall not be prejudiced by
reason of that adverse determination.

 

    	10

    	 

    

 

(c)               
In any judicial proceeding or arbitration commenced pursuant to this Section 14, Indemnitee
shall be presumed to be entitled to be indemnified, held harmless, and exonerated and to receive advancement of Expenses under
this Agreement and the Company shall have the burden of proving Indemnitee is not entitled to be indemnified, held harmless, and
exonerated and to receive advancement of Expenses, as the case may be, and the Company may not refer to or introduce into evidence
any determination pursuant to Section 12(a) of this Agreement adverse to Indemnitee for any purpose. If Indemnitee commences a
judicial proceeding or arbitration pursuant to this Section 14, Indemnitee shall not be required to reimburse the Company for any
advances pursuant to Section 10 until a final determination is made with respect to Indemnitee’s entitlement to indemnification
(as to which all rights of appeal have been exhausted or lapsed).

 

(d)              
If a determination shall have been made pursuant to Section 12(a) of this Agreement that Indemnitee
is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding or arbitration commenced
pursuant to this Section 14, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary
to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition
of such indemnification under applicable law.

 

(e)               
The Company shall be precluded from asserting in any judicial proceeding or arbitration commenced
pursuant to this Section 14 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall
stipulate in any such court or before any such arbitrator that the Company is bound by all the provisions of this Agreement.

 

(f)               
The Company shall indemnify and hold harmless Indemnitee to the fullest extent permitted by
law against all Expenses and, if requested by Indemnitee, shall (within ten (10) days after the Company’s receipt of such
written request) pay to Indemnitee, to the fullest extent permitted by applicable law, such Expenses which are incurred by Indemnitee
in connection with any judicial proceeding or arbitration brought by Indemnitee: (i) to enforce Indemnitee’s rights under,
or to recover damages for breach of, this Agreement or any other indemnification, hold harmless, exoneration, advancement or contribution
agreement or provision of the Charter or the Bylaws now or hereafter in effect; or (ii) for recovery or advances under any insurance
policy maintained by any person for the benefit of Indemnitee, regardless of the outcome and whether Indemnitee ultimately is determined
to be entitled to such indemnification, hold harmless or exoneration right, advancement, contribution or insurance recovery, as
the case may be (unless such judicial proceeding or arbitration was not brought by Indemnitee in good faith).

 

(g)               
Interest shall be paid by the Company to Indemnitee at the legal rate under Delaware law for
amounts which the Company indemnifies, holds harmless or exonerates, or advances, or is obliged to indemnify, hold harmless or
exonerate or advance for the period commencing with the date on which Indemnitee requests indemnification, to be held harmless,
exonerated, contribution, reimbursement or advancement of any Expenses and ending with the date on which such payment is made to
Indemnitee by the Company.

 

15.             
SECURITY. Notwithstanding anything herein to the
contrary, except for Section 27, to the extent requested by Indemnitee and approved by the Board, the Company may at any time and
from time to time provide security to Indemnitee for the Company’s obligations hereunder through an irrevocable bank line
of credit, funded trust or other collateral. Any such security, once provided to Indemnitee, may not be revoked or released without
the prior written consent of Indemnitee.

 

    	11

    	 

    

 

16.             
NON-EXCLUSIVITY; SURVIVAL OF RIGHTS; INSURANCE; SUBROGATION.

 

(a)               
The rights of Indemnitee as provided by this Agreement shall not be deemed exclusive of any
other rights to which Indemnitee may at any time be entitled under applicable law, the Charter, the Bylaws, any agreement, a vote
of stockholders or a resolution of directors, or otherwise. No amendment, alteration or repeal of this Agreement or of any provision
hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any Proceeding (regardless of when such
Proceeding is first threatened, commenced or completed) or claim, issue or matter therein arising out of, or related to, any action
taken or omitted by such Indemnitee in Indemnitee’s Corporate Status prior to such amendment, alteration or repeal. To the
extent that a change in applicable law, whether by statute or judicial decision, permits greater indemnification, hold harmless
or exoneration rights or advancement of Expenses than would be afforded currently under the Charter, the Bylaws or this Agreement,
then this Agreement (without any further action by the parties hereto) shall automatically be deemed to have be amended to require
that the Company indemnify Indemnitee to the fullest extent permitted by law. No right or remedy herein conferred is intended to
be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other
right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of
any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy.

 

(b)              
The DGCL, the Charter and the Bylaws permit the Company to purchase and maintain insurance
or furnish similar protection or make other arrangements including, but not limited to, providing a trust fund, letter of credit,
or surety bond (“Indemnification Arrangements”) on behalf of Indemnitee against any liability asserted
against Indemnitee or incurred by or on behalf of Indemnitee or in such capacity as a director, officer, employee or agent of the
Company, or arising out of Indemnitee’s status as such, whether or not the Company would have the power to indemnify Indemnitee
against such liability under the provisions of this Agreement or under the DGCL, as it may then be in effect. The purchase, establishment,
and maintenance of any such Indemnification Arrangement shall not in any way limit or affect the rights and obligations of the
Company or of Indemnitee under this Agreement except as expressly provided herein, and the execution and delivery of this Agreement
by the Company and Indemnitee shall not in any way limit or affect the rights and obligations of the Company or the other party
or parties thereto under any such Indemnification Arrangement.

 

(c)               
To the extent that the Company maintains an insurance policy or policies providing liability
insurance for directors, officers, trustees, partners, managers, managing members, fiduciaries, employees, or agents of the Company
or of any other Enterprise which such person serves at the request of the Company, Indemnitee shall be covered by such policy or
policies in accordance with its or their terms to the maximum extent of the coverage available for any such director, officer,
trustee, partner, managers, managing member, fiduciary, employee or agent under such policy or policies. If, at the time the Company
receives notice from any source of a Proceeding as to which Indemnitee is a party or a participant (as a witness, deponent or otherwise),
the Company has director and officer liability insurance in effect, the Company shall give prompt notice of such Proceeding to
the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary
or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such Proceeding
in accordance with the terms of such policies.

 

(d)              
In the event of any payment under this Agreement, the Company, to the fullest extent permitted
by law, shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all
papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to
enable the Company to bring suit to enforce such rights.

 

    	12

    	 

    

 

(e)               
The Company’s obligation to indemnify, hold harmless, exonerate or advance Expenses
hereunder to Indemnitee who is or was serving at the request of the Company as a director, officer, trustee, partner, manager,
managing member, fiduciary, employee or agent of any other Enterprise shall be reduced by any amount Indemnitee has actually received
as indemnification, hold harmless or exoneration payments or advancement of expenses from such Enterprise. Notwithstanding any
other provision of this Agreement to the contrary except for Section 27, (i) Indemnitee shall have no obligation to reduce, offset,
allocate, pursue or apportion any indemnification, hold harmless, exoneration, advancement, contribution or insurance coverage
among multiple parties possessing such duties to Indemnitee prior to the Company’s satisfaction and performance of all its
obligations under this Agreement, and (ii) the Company shall perform fully its obligations under this Agreement without regard
to whether Indemnitee holds, may pursue or has pursued any indemnification, advancement, hold harmless, exoneration, contribution
or insurance coverage rights against any person or entity other than the Company.

 

17.             
DURATION OF AGREEMENT. All agreements and obligations
of the Company contained herein shall continue during the period Indemnitee serves as a director or officer of the Company or as
a director, officer, trustee, partner, manager, managing member, fiduciary, employee or agent of any other corporation, partnership,
joint venture, trust, employee benefit plan or other Enterprise which Indemnitee serves at the request of the Company and shall
continue thereafter so long as Indemnitee shall be subject to any possible Proceeding (including any rights of appeal thereto and
any Proceeding commenced by Indemnitee pursuant to Section 14 of this Agreement) by reason of Indemnitee’s Corporate Status,
whether or not Indemnitee is acting in any such capacity at the time any liability or expense is incurred for which indemnification
or advancement can be provided under this Agreement.

 

18.             
SEVERABILITY. If any provision or provisions of this
Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever: (a) the validity, legality and enforceability
of the remaining provisions of this Agreement (including, without limitation, each portion of any Section, paragraph or sentence
of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal
or unenforceable) shall not in any way be affected or impaired thereby and shall remain enforceable to the fullest extent permitted
by law; (b) such provision or provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give
the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of this Agreement
(including, without limitation, each portion of any Section, paragraph or sentence of this Agreement containing any such provision
held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to
give effect to the intent manifested thereby.

 

19.             
ENFORCEMENT AND BINDING EFFECT.

 

(a)               
The Company expressly confirms and agrees that it has entered into this Agreement and assumed
the obligations imposed on it hereby in order to induce Indemnitee to serve as a director, officer or key employee of the Company,
and the Company acknowledges that Indemnitee is relying upon this Agreement in serving as a director, officer or key employee of
the Company.

 

(b)              
Without limiting any of the rights of Indemnitee under the Charter or Bylaws as they may be
amended from time to time, this Agreement constitutes the entire agreement between the parties hereto with respect to the subject
matter hereof and supersedes all prior agreements and understandings, oral, written and implied, between the parties hereto with
respect to the subject matter hereof.

 

(c)               
The indemnification, hold harmless, exoneration and advancement of expenses rights provided
by or granted pursuant to this Agreement shall be binding upon and be enforceable by the parties hereto and their respective successors
and assigns (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially
all of the business and/or assets of the Company), shall continue as to an Indemnitee who has ceased to be a director, officer,
employee or agent of the Company or a director, officer, trustee, general partner, manager, managing member, fiduciary, employee
or agent of any other Enterprise at the Company’s request, and shall inure to the benefit of Indemnitee and Indemnitee’s
spouse, assigns, heirs, devisees, executors and administrators and other legal representatives.

 

    	13

    	 

    

 

(d)              
The Company shall require and cause any successor (whether direct or indirect by purchase,
merger, consolidation or otherwise) to all, substantially all or a substantial part, of the business and/or assets of the Company,
by written agreement in form and substance satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement
in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place.

 

(e)               
The Company and Indemnitee agree herein that a monetary remedy for breach of this Agreement,
at some later date, may be inadequate, impracticable and difficult of proof, and further agree that such breach may cause Indemnitee
irreparable harm. Accordingly, the parties hereto agree that Indemnitee may, to the fullest extent permitted by law, enforce this
Agreement by seeking, among other things, injunctive relief and/or specific performance hereof, without any necessity of showing
actual damage or irreparable harm and that by seeking injunctive relief and/or specific performance, Indemnitee shall not be precluded
from seeking or obtaining any other relief to which Indemnitee may be entitled. The Company and Indemnitee further agree that Indemnitee
shall, to the fullest extent permitted by law, be entitled to such specific performance and injunctive relief, including temporary
restraining orders, preliminary injunctions and permanent injunctions, without the necessity of posting bonds or other undertaking
in connection therewith. The Company acknowledges that in the absence of a waiver, a bond or undertaking may be required of Indemnitee
by a court of competent jurisdiction. The Company hereby waives any such requirement of such a bond or undertaking to the fullest
extent permitted by law.

 

20.             
MODIFICATION AND WAIVER. No supplement, modification
or amendment of this Agreement shall be binding unless executed in writing by the Company and Indemnitee. No waiver of any of the
provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions of this Agreement nor shall any
waiver constitute a continuing waiver.

 

21.             
NOTICES. All notices, requests, demands and other
communications under this Agreement shall be in writing and shall be deemed to have been duly given (i) if delivered by hand and
receipted for by the party to whom said notice or other communication shall have been directed on such delivery, or (ii) mailed
by certified or registered mail with postage prepaid, on the third (3rd) business day after the date on which it is so mailed:

 

(a)               
If to Indemnitee, at the address indicated on the signature page of this Agreement, or such
other address as Indemnitee shall provide in writing to the Company.

 

(b)              
If to the Company, to:

 

LF Capital Acquisition Corp. II

1909 Woodall Rodgers Freeway, Suite 500 

Dallas, TX 75201

Attention: Scott Reed 

 

With a copy, which shall not constitute notice, to

 

    	14

    	 

    

 

Dechert LLP 

3 Bryant Park

1095 Avenue of the Americas 

New York, NY 10036

Attn: Martin Nussbaum, Esq.

 

or to any other address as may have been furnished to Indemnitee
in writing by the Company.

 

22.             
APPLICABLE LAW AND CONSENT TO JURISDICTION. This
Agreement and the legal relations among the parties shall be governed by, and construed and enforced in accordance with, the laws
of the State of Delaware, without regard to its conflict of laws rules. Except with respect to any arbitration commenced by Indemnitee
pursuant to Section 14(a) of this Agreement, to the fullest extent permitted by law, the Company and Indemnitee hereby irrevocably
and unconditionally: (a) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought
only in the Delaware Court and not in any other state or federal court in the United States of America or any court in any other
country; (b) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising
out of or in connection with this Agreement; (c) waive any objection to the laying of venue of any such action or proceeding in
the Delaware Court; and (d) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the
Delaware Court has been brought in an improper or inconvenient forum, or is subject (in whole or in part) to a jury trial. To the
fullest extent permitted by law, the parties hereby agree that the mailing of process and other papers in connection with any such
action or proceeding in the manner provided by Section 21 or in such other manner as may be permitted by law, shall be valid and
sufficient service thereof.

 

23.             
IDENTICAL COUNTERPARTS. This Agreement may be executed
in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute
one and the same Agreement. Only one such counterpart signed by the party against whom enforceability is sought needs to be produced
to evidence the existence of this Agreement.

 

24.             
MISCELLANEOUS. Use of the masculine pronoun shall
be deemed to include usage of the feminine pronoun where appropriate. The headings of the paragraphs of this Agreement are inserted
for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof.

 

25.             
PERIOD OF LIMITATIONS. No legal action shall be brought
and no cause of action shall be asserted by or in the right of the Company against Indemnitee, Indemnitee’s spouse, heirs,
executors or personal or legal representatives after the expiration of two years from the date of accrual of such cause of action,
and any claim or cause of action of the Company shall be extinguished and deemed released unless asserted by the timely filing
of a legal action within such two-year period; provided, however, that if any shorter period of limitations is otherwise applicable
to any such cause of action such shorter period shall govern.

 

26.             
ADDITIONAL ACTS. If for the validation of any of
the provisions in this Agreement any act, resolution, approval or other procedure is required to the fullest extent permitted by
law, the Company undertakes to cause such act, resolution, approval or other procedure to be affected or adopted in a manner that
will enable the Company to fulfill its obligations under this Agreement.

 

27.             
WAIVER OF CLAIMS TO TRUST ACCOUNT. Notwithstanding
anything contained herein to the contrary, Indemnitee hereby agrees that it does not have any right, title, interest or claim of
any kind (each, a “Claim”) in or to any monies in the trust account established in connection with the
Company’s initial public offering for the benefit of the Company and holders of shares issued in such offering, and hereby
waives any Claim it may have in the future as a result of, or arising out of, any services provided to the Company and will not
seek recourse against such trust account for any reason whatsoever.

 

28.             
MAINTENANCE OF INSURANCE. The Company shall
use commercially reasonable efforts to obtain and maintain in effect during the entire period for which the Company is obligated
to indemnify the Indemnitee under this Agreement, one or more policies of insurance with reputable insurance companies to provide
the officers/directors of the Company with coverage for losses from wrongful acts and omissions and to ensure the Company’s
performance of its indemnification obligations under this Agreement. The Indemnitee shall be covered by such policy or policies
in accordance with its or their terms to the maximum extent of the coverage available for any such director or officer under such
policy or policies. In all such insurance policies, the Indemnitee shall be named as an insured in such a manner as to provide
the Indemnitee with the same rights and benefits as are accorded to the most favorably insured of the Company’s directors
and officers.

 

[Signature Page Follows]

 

    	15

    	 

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Indemnity Agreement to be signed as of the day and year first above written.

 

	 	LF
CAPITAL ACQUISITION CORP. II
	 	 
	 	By:	 
	 	 
	 	 	Name:
Scott Reed
	 	 	Title:President,
Chief Executive Officer
	 	 
	 	INDEMNITEE
	 	 
	 	By:	 
	 	 
	 	 	Name:
	 	 	Title:
	 	 	Address:

 

[Signature Page to Indemnity Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00337-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00337-of-00352.parquet"}]]