Document:

Exhibit 4.4

 

WARRANT

AGREEMENT

ISOS

ACQUISITION CORPORATION

and

CONTINENTAL

STOCK TRANSFER & TRUST COMPANY

 

Dated

__, 2021

 

THIS

WARRANT AGREEMENT (this “Agreement”), dated February [  ], 2021, is by and between Isos Acquisition Corporation,

a Cayman Islands exempted company (the “Company”), and Continental Stock Transfer & Trust Company,

a New York corporation, as warrant agent (in such capacity, the “Warrant Agent”).

 

WHEREAS,

it is proposed that the Company enter into that certain Private Placement Warrant Purchase Agreement, with Isos Acquisition Sponsor

LLC, a Cayman Islands exempted company (the “Sponsor”), pursuant to which the Sponsor will purchase

an aggregate of 3,333,333 private placement warrants (or 3,619,049 private placement warrants if the Over-allotment Option (as

defined below) is exercised in full) (the “Sponsor Private Placement Warrants”) bearing the legend set

forth in Exhibit B hereto. Each Private Placement Warrant entitles the holder thereof to purchase one Ordinary Share (as

defined below) at a price of $11.50 per share, subject to adjustment as described herein;

 

WHEREAS,

it is proposed that the Company and LionTree Partners LLC (“LionTree”) enter into that certain Subscription

Agreement, pursuant to which the LionTree agreed to purchase 1,333,333 warrants (or up to 1,447,618 warrants if the Over-allotment

Option (as defined below) is exercised in full) (the “LionTree Private Placement Warrants”, collectively

with the Sponsor Private Placement Warrants, the “Private Placement Warrants”) bearing the legend set

forth in Exhibit C hereto. Each Private Placement Warrant entitles the holder thereof to purchase one Ordinary Share (as

defined below) at a price of $11.50 per share, subject to adjustment as described herein;

 

WHEREAS,

it is proposed that the Company enter into that certain Forward Purchase Agreement (the “Forward Purchase Agreement”)

with affiliates of Apollo Global Management, Inc., a Delaware company (the “Forward Purchaser”), pursuant

to which the Forward Purchaser agreed to purchase units (the “Forward Purchase Units”) for a maximum

aggregate purchase price of $7,500,000, with each Forward Purchase Unit having a purchase price of $10.00 and consisting of one

Ordinary Share (the “Forward Purchase Shares”), and one-third of one warrant bearing the legend set

forth in Exhibit D hereto (the “Forward Purchase Warrants” and together with the Ordinary

Shares issuable upon the exercise thereof, the Forward Purchase Units and the Forward Purchase Shares, the “Forward

Purchase Securities”) in one or more private placement transactions to occur in such amounts and at such time or

times as the Forward Purchaser determine, but no later than simultaneously with the closing of the Company’s initial Business

Combination;

 

WHEREAS,

in order to finance the Company’s transaction costs in connection with an intended initial merger, share exchange, asset

acquisition, share purchase, reorganization or similar business combination, involving the Company and one or more businesses

(a “Business Combination”), the Sponsor or an affiliate of the Sponsor or certain of the Company’s

officers and directors may, but are not obligated to, loan the Company funds as the Company may require, of which up to $1,500,000

of such loans may be convertible into up to an additional 1,000,000 Private Placement Warrants at a price of $1.50 per Private

Placement Warrant;

 

WHEREAS,

the Company is engaged in an initial public offering (the “Offering”) of units of the Company’s

equity securities, each such unit comprised of one Ordinary Share (as defined below) and one-third of one Public Warrant (as defined

below) (the “Units”) and, in connection therewith, has determined to issue and deliver up to 23,000,000

redeemable warrants (including up to 3,000,000 redeemable warrants subject to the Over-allotment Option) to public investors in

the Offering (the “Public Warrants” and, together with the Private Placement Warrants and Forward Purchase

Warrants, the “Warrants”). Each whole Warrant entitles the holder thereof to purchase one Class A

ordinary share of the Company, par value $0.0001 per share (“Ordinary Shares”), for $11.50 per share,

subject to adjustment as described herein. Only whole Warrants are exercisable. A holder of the Public Warrants will not be able

to exercise any fraction of a Warrant;

 

     

     

    

 

WHEREAS,

the Company has filed with the Securities and Exchange Commission (the “Commission”) a registration

statement on Form S-1, File No. 333-252283, and a prospectus (the “Prospectus”), for the registration,

under the Securities Act of 1933, as amended (the “Securities Act”), of the Units, the Public Warrants

and the Ordinary Shares included in the Units;

 

WHEREAS,

the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection

with the issuance, registration, transfer, exchange, redemption and exercise of the Warrants;

 

WHEREAS,

the Company desires to provide for the form and provisions of the Warrants, the terms upon which they shall be issued and exercised,

and the respective rights, limitation of rights, and immunities of the Company, the Warrant Agent and the holders of the Warrants;

and

 

WHEREAS,

all acts and things have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company

and countersigned by or on behalf of the Warrant Agent (if a physical certificate is issued), as provided herein, the valid, binding

and legal obligations of the Company, and to authorize the execution and delivery of this Agreement.

 

NOW,

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

 

1.

Appointment of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company for the Warrants,

and the Warrant Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions

set forth in this Agreement.

 

2.

Warrants.

 

2.1.

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

 

2.2.

Effect of Countersignature. If a physical certificate is issued, unless and until countersigned by the Warrant Agent pursuant

to this Agreement, a certificated Warrant shall be invalid and of no effect and may not be exercised by the holder thereof.

 

2.3.

Registration.

 

2.3.1.

Warrant Register. The Warrant Agent shall maintain books (the “Warrant Register”), for the registration

of original issuance and the registration of transfer of the Warrants. Upon the initial issuance of the Warrants in book-entry

form, the Warrant Agent shall issue and register the Warrants in the names of the respective holders thereof in such denominations

and otherwise in accordance with instructions delivered to the Warrant Agent by the Company. Ownership of beneficial interests

in the Public Warrants shall be shown on, and the transfer of such ownership shall be effected through, records maintained by

institutions that have accounts with The Depository Trust Company (the “Depositary”) (such institution,

with respect to a Warrant in its account, a “Participant”).

 

If

the Depositary subsequently ceases to make its book-entry settlement system available for the Public Warrants, the Company may

instruct the Warrant Agent regarding making other arrangements for book-entry settlement. In the event that the Public Warrants

are not eligible for, or it is no longer necessary to have the Public Warrants available in, book-entry form, the Warrant Agent

shall provide written instructions to the Depositary to deliver to the Warrant Agent for cancellation each book-entry Public Warrant,

and the Company shall instruct the Warrant Agent to deliver to the Depositary definitive certificates in physical form evidencing

such Warrants (“Definitive Warrant Certificates”) which shall be in the form annexed hereto as Exhibit

A.

 

Physical

certificates, if issued, shall be signed by, or bear the facsimile signature of, the Chairman of the Board, Chief Executive Officer,

Chief Financial Officer, Secretary or other principal officer of the Company. In the event the person whose facsimile signature

has been placed upon any Warrant shall have ceased to serve in the capacity in which such person signed the Warrant before such

Warrant is issued, it may be issued with the same effect as if he or she had not ceased to be such at the date of issuance.

 

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2.3.2.

Registered Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent

may deem and treat the person in whose name such Warrant is registered in the Warrant Register (the “Registered Holder”)

as the absolute owner of such Warrant and of each Warrant represented thereby, for the purpose of any exercise thereof, and for

all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.

 

2.4.

Detachability of Warrants. The Ordinary Shares and Public Warrants comprising the Units shall begin separate trading on

the 52nd day following the date of the Prospectus or, if such 52nd day is not on a day, other than a Saturday, Sunday or federal

holiday, on which banks in New York City are generally open for normal business (a “Business Day”),

then on the immediately succeeding Business Day following such date, or earlier (the “Detachment Date”)

with the consent of J.P. Morgan Securities LLC, but in no event shall the Ordinary Shares and the Public Warrants comprising the

Units be separately traded until (A) the Company has filed a Current Report on Form 8-K with the Commission containing an

audited balance sheet reflecting the receipt by the Company of the gross proceeds of the Offering, including the proceeds then

received by the Company from the exercise by the underwriters of their right to purchase additional Units in the Offering (the

“Over-allotment Option”), if the Over-allotment Option is exercised prior to the filing of the Current

Report on Form 8-K, and (B) the Company issues a press release announcing when such separate trading shall begin.

 

2.5.

Fractional Warrants. The Company shall not issue fractional Warrants other than as part of the Units, each of which is

comprised of one Ordinary Share and one-third of one whole Public Warrant. If, upon the detachment of Public Warrants from the

Units or Forward Purchase Units otherwise, a holder of Warrants would be entitled to receive a fractional Warrant, the Company

shall round down to the nearest whole number the number of Warrants to be issued to such holder.

 

2.6.

Private Placement Warrants. The Private Placement Warrants shall be identical to the Public Warrants, except that so long

as they are held by the Sponsor or any of its Permitted Transferees (as defined below) the Private Placement Warrants: (i) may

be exercised for cash or on a “cashless basis,” pursuant to subsection 3.3.1(c) hereof, (ii) including the Ordinary

Shares issuable upon exercise of the Private Placement Warrants, may not be transferred, assigned or sold until thirty (30) days

after the completion by the Company of an initial Business Combination, (iii) shall not be redeemable by the Company pursuant

to Section 6.1 hereof and (iv) shall only be redeemable by the Company pursuant to Section 6.2 if the Reference Value

(as defined below) is less than $18.00 per share (subject to adjustment in compliance with Section 4 hereof); provided, however,

that in the case of (ii), the Private Placement Warrants and any Ordinary Shares issued upon exercise of the Private Placement

Warrants may be transferred by the holders thereof:

 

(a)

(1) in the case of the Sponsor Private Placement Warrants, 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 and (2) in the case of the Underwriter Private Placement Warrants and any

Ordinary Shares issued upon exercise of the LionTree Private Placement Warrants, to any affiliate or member(s) of LionTree;

 

(b)

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;

 

(c)

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

 

(d)

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

 

(e)

by private sales or transfers made in connection with the consummation of the Company’s Business Combination at prices no

greater than the price at which the Private Placement Warrants or Ordinary Shares, as applicable, were originally purchased;

 

(f)

by virtue of the Sponsor’s organizational documents upon liquidation or dissolution of the Sponsor;

 

(g)

to the Company for no value for cancellation in connection with the consummation of our initial Business Combination;

 

(h)

in the event of the Company’s liquidation prior to the completion of its initial Business Combination; or

 

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(i)

in the event of the Company’s completion of a liquidation, merger, share exchange or other similar transaction which results

in all of the public shareholders having the right to exchange their Ordinary Shares for cash, securities or other property subsequent

to the completion of the Company’s initial Business Combination;

 

provided,

however, that, in the case of clauses (a) through (f), these permitted transferees (the “Permitted Transferees”)

must enter into a written agreement with the Company agreeing to be bound by the transfer restrictions in this Agreement.

 

2.7 Forward

Purchase Warrants. The Forward Purchase Warrants shall be identical to the Public Warrants, except that they shall be subject

to the transfer restrictions set forth in this Agreement and the Forward Purchase Agreement, and shall have registration rights

as set forth in the Registration Rights Agreement. 

 

3.

Terms and Exercise of Warrants.

 

3.1.

Warrant Price. Each whole Warrant shall entitle the Registered Holder thereof, subject to the provisions of such Warrant

and of this Agreement, to purchase from the Company the number of Ordinary Shares stated therein, at the price of $11.50 per share,

subject to the adjustments provided in Section 4 hereof and in the last sentence of this Section 3.1. The term “Warrant

Price” as used in this Agreement shall mean the price per share (including in cash or by payment of Warrants pursuant

to a “cashless exercise,” to the extent permitted hereunder) described in the prior sentence at which Ordinary Shares

may be purchased at the time a Warrant is exercised. The Company in its sole discretion may lower the Warrant Price at any time

prior to the Expiration Date (as defined below) for a period of not less than fifteen (15) Business Days (unless otherwise

required by the Commission, any national securities exchange on which the Warrants are listed or applicable law); provided that

the Company shall provide at least five (5) days’ prior written notice of such reduction to Registered Holders of the

Warrants; and provided further, that any such reduction shall be identical among all of the Warrants.

 

3.2.

Duration of Warrants. A Warrant may be exercised only during the period (the “Exercise Period”)

(A) commencing on the later of: (i) the date that is thirty (30) days after the first date on which the Company completes

a Business Combination, and (ii) the date that is twelve (12) months from the date of the closing of the Offering, and

(B) terminating at the earliest to occur of (x) 5:00 p.m., New York City time on the date that is five (5) years after

the date on which the Company completes its initial Business Combination, (y) the liquidation of the Company in accordance

with the Company’s amended and restated memorandum and articles of association, as amended from time to time, if the Company

fails to complete a Business Combination, and (z) other than with respect to the Private Placement Warrants then held by

the Sponsor or its Permitted Transferees with respect to a redemption pursuant to Section 6.1 hereof or, if the Reference

Value equals or exceeds $18.00 per share (subject to adjustment in compliance with Section 4 hereof), Section 6.2 hereof,

5:00 p.m., New York City time on the Redemption Date (as defined below) as provided in Section 6.3 hereof (the “Expiration

Date”); provided, however, that the exercise of any Warrant shall be subject to the satisfaction of any applicable

conditions, as set forth in subsection 3.3.2 below, with respect to an effective registration statement or a valid exemption therefrom

being available. Except with respect to the right to receive the Redemption Price (as defined below) (other than with respect

to a Private Placement Warrant then held by the Sponsor or its Permitted Transferees in connection with a redemption pursuant

to Section 6.1 hereof or, if the Reference Value equals or exceeds $18.00 per share (subject to adjustment in compliance

with Section 4 hereof), Section 6.2 hereof) in the event of a redemption (as set forth in Section 6 hereof), each

Warrant (other than a Private Placement Warrant then held by the Sponsor or its Permitted Transferees in the event of a redemption

pursuant to Section 6.1 hereof or, if the Reference Value equals or exceeds $18.00 per share (subject to adjustment in compliance

with Section 4 hereof), Section 6.2 hereof) not exercised on or before the Expiration Date shall become void, and all

rights thereunder and all rights in respect thereof under this Agreement shall cease at 5:00 p.m. New York City time on the Expiration

Date. The Company in its sole discretion may extend the duration of the Warrants by delaying the Expiration Date; provided that

the Company shall provide at least twenty (20) days prior written notice of any such extension to Registered Holders of the

Warrants and, provided further that any such extension shall be identical in duration among all the Warrants.

 

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3.3.

Exercise of Warrants.

 

3.3.1.

Payment. Subject to the provisions of the Warrant and this Agreement, a Warrant may be exercised by the Registered Holder

thereof by delivering to the Warrant Agent at its corporate trust department (i) the Definitive Warrant Certificate evidencing

the Warrants to be exercised, or, in the case of a Warrant represented by a book-entry, the Warrants to be exercised (the “Book-Entry

Warrants”) on the records of the Warrant Agent at the Depositary designated for such purposes in writing by the

Warrant Agent to the Depositary from time to time, (ii) an election to purchase (“Election to Purchase”)

any Ordinary Shares pursuant to the exercise of a Warrant, properly completed and executed by the Registered Holder on the reverse

of the Definitive Warrant Certificate or, in the case of a Book-Entry Warrant, properly delivered by the Participant in accordance

with the Depositary’s procedures, and (iii) the payment in full of the Warrant Price for each Ordinary Share as to

which the Warrant is exercised and any and all applicable taxes due in connection with the exercise of the Warrant, the exchange

of the Warrant for the Ordinary Shares and the issuance of such Ordinary Shares, as follows:

 

(a)

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

 

(b)

[Reserved];

 

(c)

with respect to any Private Placement Warrant, so long as such Private Placement Warrant is held by the Sponsor or a Permitted

Transferee, by surrendering the Warrants for that number of Ordinary Shares equal to (i) if in connection with a redemption

of Private Placement Warrants pursuant to Section 6.2 hereof, as provided in Section 6.2 hereof with respect to a Make-Whole

Exercise (as defined below) and (ii) in all other scenarios the quotient obtained by dividing (x) the product of the

number of Ordinary Shares underlying the Warrants, multiplied by the excess of the “Sponsor Exercise Fair Market Value”

(as defined in this subsection 3.3.1(c)) over the Warrant Price by (y) the Sponsor Exercise Fair Market Value. Solely for

purposes of this subsection 3.3.1(c), the “Sponsor Fair Market Value” shall mean the average last reported

sale price of the Ordinary Shares for the ten (10) trading days ending on the third (3rd) trading day prior to the date on

which notice of exercise of the Private Placement Warrant is sent to the Warrant Agent;

 

(d)

as provided in Section 6.2 hereof with respect to a Make-Whole Exercise; or

 

(e)

as provided in Section 7.4 hereof.

 

3.3.2.

Issuance of Ordinary Shares on Exercise. As soon as practicable after the exercise of any Warrant and the clearance of

the funds in payment of the Warrant Price (if payment is pursuant to subsection 3.3.1(a)), the Company shall issue to the Registered

Holder of such Warrant a book-entry position or certificate, as applicable, for the number of Ordinary Shares to which he, she

or it is entitled, registered in such name or names as may be directed by him, her or it on the register of members of the Company,

and if such Warrant shall not have been exercised in full, a new book-entry position or countersigned Warrant, as applicable,

for the number of shares as to which such Warrant shall not have been exercised. Notwithstanding the foregoing, the Company shall

not be obligated to deliver any Ordinary Shares pursuant to the exercise of a Warrant and shall have no obligation to settle such

Warrant exercise unless a registration statement under the Securities Act with respect to the Ordinary Shares underlying the Public

Warrants is then effective and a prospectus relating thereto is current, subject to the Company’s satisfying its obligations

under Section 7.4 or a valid exemption from registration is available. No Warrant shall be exercisable and the Company shall

not be obligated to issue Ordinary Shares upon exercise of a Warrant unless the Ordinary Shares issuable upon such Warrant exercise

have been registered, qualified or deemed to be exempt from registration or qualification under the securities laws of the state

of residence of the Registered Holder of the Warrants. Subject to Section 4.5 of this Agreement, a Registered Holder of Warrants

may exercise its Warrants only for a whole number of Ordinary Shares. The Company may require holders of Public Warrants to settle

the Warrant on a “cashless basis” pursuant to Section 7.4. If, by reason of any exercise of Warrants on a “cashless

basis”, the holder of any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest

in an Ordinary Share, the Company shall round down to the nearest whole number, the number of Ordinary Shares to be issued to

such holder.

 

3.3.3.

Valid Issuance. All Ordinary Shares issued upon the proper exercise of a Warrant in conformity with this Agreement shall

be validly issued, fully paid and nonassessable.

 

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3.3.4.

Date of Issuance. Each person in whose name any book-entry position or certificate, as applicable, for Ordinary Shares

is issued and who is registered in the register of members of the Company shall for all purposes be deemed to have become the

holder of record of such Ordinary Shares on the date on which the Warrant, or book-entry position representing such Warrant, was

surrendered and payment of the Warrant Price was made, irrespective of the date of delivery of such certificate in the case of

a certificated Warrant, except that, if the date of such surrender and payment is a date when the register of members of the Company

or book-entry system of the Warrant Agent are closed, such person shall be deemed to have become the holder of such shares at

the close of business on the next succeeding date on which the share transfer books or book-entry system are open.

 

3.3.5.

Maximum Percentage. A holder of a Warrant may notify the Company in writing in the event it elects to be subject to the

provisions contained in this subsection 3.3.5; however, no holder of a Warrant shall be subject to this subsection 3.3.5 unless

he, she or it makes such election. If the election is made by a holder, the Warrant Agent shall not effect the exercise of the

holder’s Warrant, and such holder shall not have the right to exercise such Warrant, to the extent that after giving effect

to such exercise, such person (together with such person’s affiliates), to the Warrant Agent’s actual knowledge, would

beneficially own in excess of 4.9% or 9.8% (as specified by the holder) (the “Maximum Percentage”) of

the Ordinary Shares outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the

aggregate number of Ordinary Shares beneficially owned by such person and its affiliates shall include the number of Ordinary

Shares issuable upon exercise of the Warrant with respect to which the determination of such sentence is being made, but shall

exclude Ordinary Shares that would be issuable upon (x) exercise of the remaining, unexercised portion of the Warrant beneficially

owned by such person and its affiliates and (y) exercise or conversion of the unexercised or unconverted portion of any other

securities of the Company beneficially owned by such person and its affiliates (including, without limitation, any convertible

notes or convertible preferred shares or warrants) subject to a limitation on conversion or exercise analogous to the limitation

contained herein. Except as set forth in the preceding sentence, for purposes of this paragraph, beneficial ownership shall be

calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange

Act”). For purposes of the Warrant, in determining the number of outstanding Ordinary Shares, the holder may rely

on the number of outstanding Ordinary Shares as reflected in (1) the Company’s most recent Annual Report on Form 10-K,

Quarterly Report on Form 10-Q, Current Report on Form 8-K or other public filing with the Commission as the case may be, (2) a

more recent public announcement by the Company or (3) any other notice by the Company or Continental Stock Transfer &

Trust Company, as transfer agent (in such capacity, the “Transfer Agent”), setting forth the number

of Ordinary Shares outstanding. For any reason at any time, upon the written request of the holder of the Warrant, the Company

shall, within two (2) Business Days, confirm orally and in writing to such holder the number of Ordinary Shares then outstanding.

In any case, the number of issued and outstanding Ordinary Shares shall be determined after giving effect to the conversion or

exercise of equity securities of the Company by the holder and its affiliates since the date as of which such number of issued

and outstanding Ordinary Shares was reported. By written notice to the Company, the holder of a Warrant may from time to time

increase or decrease the Maximum Percentage applicable to such holder to any other percentage specified in such notice; provided,

however, that any such increase shall not be effective until the sixty-first (61st) day after such notice is delivered to the

Company.

 

4.

Adjustments.

 

4.

1. Share Capitalizations.

 

4.1.1.

Sub-Divisions. If after the date hereof, and subject to the provisions of Section 4.5 below, the number of issued

and outstanding Ordinary Shares is increased by a capitalization or share dividend of Ordinary Shares, or by a split-up of Ordinary

Shares or other similar event, then, on the effective date of such capitalization or share dividend, split-up or similar event,

the number of Ordinary Shares issuable on exercise of each Warrant shall be increased in proportion to such increase in the issued

and outstanding Ordinary Shares. A rights offering made to all or substantially all holders of Ordinary Shares entitling holders

to purchase Ordinary Shares at a price less than the “Historical Fair Market Value” (as defined below) shall be deemed

a share dividend of a number of Ordinary Shares equal to the product of (i) the number of Ordinary Shares actually sold in

such rights offering (or issuable under any other equity securities sold in such rights offering that are convertible into or

exercisable for Ordinary Shares) multiplied by (ii) one (1) minus the quotient of (x) the price per Ordinary Share paid

in such rights offering divided by (y) the Historical Fair Market Value. For purposes of this subsection 4.1.1, (i) if the rights

offering is for securities convertible into or exercisable for Ordinary Shares, in determining the price payable for Ordinary

Shares, there shall be taken into account any consideration received for such rights, as well as any additional amount payable

upon exercise or conversion and (ii) “Historical Fair Market Value” means the volume weighted average

price of the Ordinary Shares during the ten (10) trading day period ending on the trading day prior to the first date on

which the Ordinary Shares trade on the applicable exchange or in the applicable market, regular way, without the right to receive

such rights. No Ordinary Shares shall be issued at less than their par value.

 

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4.1.2.

Extraordinary Dividends. If the Company, at any time while the Warrants are outstanding and unexpired, pays to all or substantially

all of the holders of the Ordinary Shares a dividend or make a distribution in cash, securities or other assets on account of

such Ordinary Shares (or other shares into which the Warrants are convertible), other than (a) as described in subsection

4.1.1 above, (b) Ordinary Cash Dividends (as defined below), (c) to satisfy the redemption rights of the holders of the Ordinary

Shares in connection with a proposed initial Business Combination, (d) to satisfy the redemption rights of the holders of

the Ordinary Shares in connection with a shareholder vote to amend the Company’s amended and restated memorandum and articles

of association (i) to modify the substance or timing of the Company’s obligation to provide holders of Ordinary Shares

the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100%

of the Company’s public shares if it does not complete its initial Business Combination within the time period required

by the Company’s Amended and Restated Memorandum and Articles of Association, as amended from time to time, or (ii) with

respect to any other provision relating to the rights of holders of Ordinary Shares or (e) in connection with the redemption

of public shares upon the failure of the Company to complete its initial Business Combination and any subsequent distribution

of its assets upon its liquidation (any such non-excluded event being referred to herein as an “Extraordinary Dividend”),

then the Warrant Price shall be decreased, effective immediately after the effective date of such Extraordinary Dividend, by the

amount of cash and/or the fair market value (as determined by the Company’s board of directors (the “Board”),

in good faith) of any securities or other assets paid on each Ordinary Share in respect of such Extraordinary Dividend. For purposes

of this subsection 4.1.2, “Ordinary Cash Dividends” means any cash dividend or cash distribution which,

when combined on a per share basis with all other cash dividends and cash distributions paid on the Ordinary Shares during the

365-day period ending on the date of declaration of such dividend or distribution does not exceed $0.50 (as adjusted to appropriately

reflect any of the events referred to in other subsections of this Section 4 and excluding cash dividends or cash distributions

that resulted in an adjustment to the Warrant Price or to the number of Ordinary Shares issuable on exercise of each Warrant but

only with respect to the amount of aggregate cash dividends and cash distributions equal to or less than $0.50 per Share).

 

4.2.

Aggregation of Shares. If after the date hereof, and subject to the provisions of Section 4.5 hereof, the number of

issued and outstanding Ordinary Shares is decreased by a consolidation, combination, reverse share split or reclassification of

Ordinary Shares or other similar event, then, on the effective date of such consolidation, combination, reverse share split, reclassification

or similar event, the number of Ordinary Shares issuable on exercise of each Warrant shall be decreased in proportion to such

decrease in issued and outstanding Ordinary Shares.

 

4.3.

Adjustments in Exercise Price. Whenever the number of Ordinary Shares purchasable upon the exercise of the Warrants is

adjusted, as provided in subsection 4.1.1 or Section 4.2 above, the Warrant Price shall be adjusted (to the nearest cent)

by multiplying such Warrant Price immediately prior to such adjustment by a fraction (x) the numerator of which shall be

the number of Ordinary Shares purchasable upon the exercise of the Warrants immediately prior to such adjustment, and (y) the

denominator of which shall be the number of Ordinary Shares so purchasable immediately thereafter.

 

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4.4.

Replacement of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the issued and

outstanding Ordinary Shares (other than a change under Section 4.1 or Section 4.2 hereof or that solely affects the

par value of such Ordinary Shares), or in the case of any merger or consolidation of the Company with or into another corporation

(other than a consolidation or merger in which the Company is the continuing corporation and that does not result in any reclassification

or reorganization of the issued and outstanding Ordinary Shares), or in the case of any sale or conveyance to another corporation

or entity of the assets or other property of the Company as an entirety or substantially as an entirety in connection with which

the Company is dissolved, the holders of the Warrants shall thereafter have the right to purchase and receive, upon the basis

and upon the terms and conditions specified in the Warrants and in lieu of the Ordinary Shares of the Company immediately theretofore

purchasable and receivable upon the exercise of the rights represented thereby, the kind and amount of shares or stock or other

securities or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon

a dissolution following any such sale or transfer, that the holder of the Warrants would have received if such holder had exercised

his, her or its Warrant(s) immediately prior to such event (the “Alternative Issuance”); provided, however,

that (i) if the holders of the Ordinary Shares were entitled to exercise a right of election as to the kind or amount of

securities, cash or other assets receivable upon such consolidation or merger, then the kind and amount of securities, cash or

other assets constituting the Alternative Issuance for which each Warrant shall become exercisable shall be deemed to be the weighted

average of the kind and amount received per share by the holders of the Ordinary Shares in such consolidation or merger that affirmatively

make such election, and (ii) if a tender, exchange or redemption offer shall have been made to and accepted by the holders

of the Ordinary Shares (other than a tender, exchange or redemption offer made by the Company in connection with redemption rights

held by shareholders of the Company as provided for in the Company’s amended and restated memorandum and articles of association

or as a result of the repurchase of Ordinary Shares by the Company if a proposed initial Business Combination is presented to

the shareholders of the Company for approval) under circumstances in which, upon completion of such tender or exchange offer,

the maker thereof, together with members of any group (within the meaning of Rule 13d-5(b)(1) under the Exchange Act) of which

such maker is a part, and together with any affiliate or associate of such maker (within the meaning of Rule 12b-2 under the Exchange

Act) and any members of any such group of which any such affiliate or associate is a part, own beneficially (within the meaning

of Rule 13d-3 under the Exchange Act) more than 50% of the issued and outstanding Ordinary Shares, the holder of a Warrant shall

be entitled to receive as the Alternative Issuance, the highest amount of cash, securities or other property to which such holder

would actually have been entitled as a shareholder if such Warrant holder had exercised the Warrant prior to the expiration of

such tender or exchange offer, accepted such offer and all of the Ordinary Shares held by such holder had been purchased pursuant

to such tender or exchange offer, subject to adjustments (from and after the consummation of such tender or exchange offer) as

nearly equivalent as possible to the adjustments provided for in this Section 4; provided further that if less than 70% of

the consideration receivable by the holders of the Ordinary Shares in the applicable event is payable in the form of shares in

the successor entity that is listed for trading on a national securities exchange or is quoted in an established over-the-counter

market, or is to be so listed for trading or quoted immediately following such event, and if the Registered Holder properly exercises

the Warrant within thirty (30) days following the public disclosure of the consummation of such applicable event by the Company

pursuant to a Current Report on Form 8-K filed with the Commission, the Warrant Price shall be reduced by an amount (in dollars)

equal to the difference of (i) the Warrant Price in effect prior to such reduction minus (ii) (A) the Per Share Consideration

(as defined below) (but in no event less than zero) minus (B) the Black-Scholes Warrant Value (as defined below). The “Black-Scholes

Warrant Value” means the value of a Warrant immediately prior to the consummation of the applicable event based

on the Black-Scholes Warrant Model for a Capped American Call on Bloomberg Financial Markets (assuming zero dividends) (“Bloomberg”).

For purposes of calculating such amount, (i) Section 6 of this Agreement shall be taken into account, (ii) the

price of each Ordinary Share shall be the volume weighted average price of the Ordinary Shares during the ten (10) trading

day period ending on the trading day prior to the effective date of the applicable event, (iii) the assumed volatility shall

be the 90 day volatility obtained from the HVT function on Bloomberg determined as of the trading day immediately prior to the

day of the announcement of the applicable event and (iv) the assumed risk-free interest rate shall correspond to the U.S.

Treasury rate for a period equal to the remaining term of the Warrant. “Per Share Consideration” means

(i) if the consideration paid to holders of the Ordinary Shares consists exclusively of cash, the amount of such cash per

Ordinary Share, and (ii) in all other cases, the volume weighted average price of the Ordinary Shares during the ten (10) trading

day period ending on the trading day prior to the effective date of the applicable event. If any reclassification or reorganization

also results in a change in Ordinary Shares covered by subsection 4.1.1, then such adjustment shall be made pursuant to subsection

4.1.1 or Sections 4.2, 4.3 and this Section 4.4. The provisions of this Section 4.4 shall similarly apply to successive

reclassifications, reorganizations, mergers or consolidations, sales or other transfers. In no event shall the Warrant Price be

reduced to less than the par value per share issuable upon exercise of such Warrant.

 

4.5.

Notices of Changes in Warrant. Upon every adjustment of the Warrant Price or the number of shares issuable upon exercise

of a Warrant, the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting

from such adjustment and the increase or decrease, if any, in the number of shares purchasable at such price upon the exercise

of a Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based.

Upon the occurrence of any event specified in Sections 4.1, 4.2, 4.3, 4.4 or 4.5, the Company shall give written notice of the

occurrence of such event to each holder of a Warrant, at the last address set forth for such holder in the Warrant Register, of

the record date or the effective date of the event. Failure to give such notice, or any defect therein, shall not affect the legality

or validity of such event.

 

    8

     

    

 

4.6.

No Fractional Shares. Notwithstanding any provision contained in this Agreement to the contrary, the Company shall not

issue fractional shares upon the exercise of Warrants. If, by reason of any adjustment made pursuant to this Section 4, the

holder of any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share, the Company

shall, upon such exercise, round down to the nearest whole number the number of Ordinary Shares to be issued to such holder.

 

4.7.

Form of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this Section 4, and

Warrants issued after such adjustment may state the same Warrant Price and the same number of shares as is stated in the Warrants

initially issued pursuant to this Agreement; provided, however, that the Company may at any time in its sole discretion make any

change in the form of Warrant that the Company may deem appropriate and that does not affect the substance thereof, and any Warrant

thereafter issued or countersigned, whether in exchange or substitution for an outstanding Warrant or otherwise, may be in the

form as so changed.

 

5.

Transfer and Exchange of Warrants.

 

5.1.

Registration of Transfer. The Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant

upon the Warrant Register, upon surrender of such Warrant for transfer, properly endorsed with signatures properly guaranteed

and accompanied by appropriate instructions for transfer. Upon any such transfer, a new Warrant representing an equal aggregate

number of Warrants shall be issued and the old Warrant shall be cancelled by the Warrant Agent. In the case of certificated Warrants,

the Warrants so cancelled shall be delivered by the Warrant Agent to the Company from time to time upon request.

 

5.2.

Procedure for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, together with a written request

for exchange or transfer, and thereupon the Warrant Agent shall issue in exchange therefor one or more new Warrants as requested

by the Registered Holder of the Warrants so surrendered, representing an equal aggregate number of Warrants; provided, however,

that except as otherwise provided herein or with respect to any Book-Entry Warrant, each Book-Entry Warrant may be transferred

only in whole and only to the Depositary, to another nominee of the Depositary, to a successor depository, or to a nominee of

a successor depository; provided further, however that in the event that a Warrant surrendered for transfer bears a restrictive

legend (as in the case of the Private Placement Warrants), the Warrant Agent shall not cancel such Warrant and issue new Warrants

in exchange thereof until the Warrant Agent has received an opinion of counsel for the Company stating that such transfer may

be made and indicating whether the new Warrants must also bear a restrictive legend.

 

5.3.

Fractional Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which shall

result in the issuance of a warrant certificate or book-entry position for a fraction of a warrant, except as part of the Units

or the Forward Purchase Units.

 

5.4.

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

 

5.5.

Warrant Execution and Countersignature. The Warrant Agent is hereby authorized to countersign and to deliver, in accordance

with the terms of this Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5, and the

Company, whenever required by the Warrant Agent, shall supply the Warrant Agent with Warrants duly executed on behalf of the Company

for such purpose.

 

5.6.

Transfer of Warrants. Prior to the Detachment Date, the Public Warrants may be transferred or exchanged only together with

the Unit in which such Warrant is included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange

of such Unit. Furthermore, each transfer of a Unit on the register relating to such Units shall operate also to transfer the Warrants

included in such Unit. Notwithstanding the foregoing, the provisions of this Section 5.6 shall have no effect on any transfer

of Warrants on and after the Detachment Date. The Forward Purchase Warrants may be transferred only as provided in the Forward

Purchase Agreement.

 

6.

Redemption.

 

6.1.

Redemption of Warrants for Cash. Subject to Section 6.5 hereof, not less than all of the outstanding Warrants may

be redeemed, at the option of the Company, at any time during the Exercise Period, at the office of the Warrant Agent, upon notice

to the Registered Holders of the Warrants, as described in Section 6.3 below, at a Redemption Price of $0.01 per Warrant,

provided that (a) the Reference Value equals or exceeds $18.00 per share (subject to adjustment in compliance with Section 4

hereof) and (b) there is an effective registration statement covering the issuance of the Ordinary Shares issuable upon exercise

of the Warrants, and a current prospectus relating thereto, available throughout the 30-day Redemption Period (as defined in Section 6.3

below).

 

    9

     

    

 

6.2.

Redemption of Warrants for Ordinary Shares. Subject to Section 6.5 hereof, not less than all of the outstanding Warrants

may be redeemed, at the option of the Company, at any time during the Exercise Period, at the office of the Warrant Agent, upon

notice to the Registered Holders of the Warrants, as described in Section 6.3 below, at a Redemption Price of $0.10 per Warrant,

provided that (i) the last reported sales price of the Ordinary Shares equals or exceeds $10.00 per share (subject to adjustment

in compliance with Section 4 hereof) on the trading day before the Company sends the notice of redemption to the Warrant

Agent, (ii) the Private Placement Warrants are also concurrently called for redemption on the same terms as the outstanding

Public Warrants and (iii) there is an effective registration statement covering the issuance of the Ordinary Shares issuable

upon exercise of the Warrants, and a current prospectus relating thereto, available throughout the 30-day Redemption Period (as

defined in Section 6.3 below). During the 30-day Redemption Period in connection with a redemption pursuant to this Section 6.2,

Registered Holders of the Warrants may elect to exercise their Warrants on a “cashless basis” pursuant to subsection

3.3.1 and receive a number of Ordinary Shares determined by reference to the table below, based on the Redemption Date (calculated

for purposes of the table as the period to expiration of the Warrants) and the “Redemption Fair Market Value” (as

such term is defined in this Section 6.2) (a “Make-Whole Exercise”). Solely for purposes of this

Section 6.2, the “Redemption Fair Market Value” shall mean the volume weighted average price of

the Ordinary Shares for the ten (10) trading days immediately following on the third (3rd) trading day prior to the date

on which notice of redemption pursuant to this Section 6.2 is sent to the Registered Holders. The Company shall provide the

Registered Holders with the final fair market value no later than one Business Day after the end of the 10-trading day period

described in the immediately preceding sentence. 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	Fair

    Market Value of Class A Ordinary Shares	 
	Date

(period to expiration of warrants)
	 	<$10.00	 	 	$11.00	 	 	$12.00	 	 	$13.00	 	 	$14.00	 	 	$15.00	 	 	$16.00	 	 	$17.00	 	 	>18.00	 
	60 months	 	 	0.261	 	 	 	0.281	 	 	 	0.297	 	 	 	0.311	 	 	 	0.324	 	 	 	0.337	 	 	 	0.348	 	 	 	0.358	 	 	 	0.361	 
	57 months	 	 	0.257	 	 	 	0.277	 	 	 	0.294	 	 	 	0.310	 	 	 	0.324	 	 	 	0.337	 	 	 	0.348	 	 	 	0.358	 	 	 	0.361	 
	54 months	 	 	0.252	 	 	 	0.272	 	 	 	0.291	 	 	 	0.307	 	 	 	0.322	 	 	 	0.335	 	 	 	0.347	 	 	 	0.357	 	 	 	0.361	 
	51 months	 	 	0.246	 	 	 	0.268	 	 	 	0.287	 	 	 	0.304	 	 	 	0.320	 	 	 	0.333	 	 	 	0.346	 	 	 	0.357	 	 	 	0.361	 
	48 months	 	 	0.241	 	 	 	0.263	 	 	 	0.283	 	 	 	0.301	 	 	 	0.317	 	 	 	0.332	 	 	 	0.344	 	 	 	0.356	 	 	 	0.361	 
	45 months	 	 	0.235	 	 	 	0.258	 	 	 	0.279	 	 	 	0.298	 	 	 	0.315	 	 	 	0.330	 	 	 	0.343	 	 	 	0.356	 	 	 	0.361	 
	42 months	 	 	0.228	 	 	 	0.252	 	 	 	0.274	 	 	 	0.294	 	 	 	0.312	 	 	 	0.328	 	 	 	0.342	 	 	 	0.355	 	 	 	0.361	 
	39 months	 	 	0.221	 	 	 	0.246	 	 	 	0.269	 	 	 	0.290	 	 	 	0.309	 	 	 	0.325	 	 	 	0.340	 	 	 	0.354	 	 	 	0.361	 
	36 months	 	 	0.213	 	 	 	0.239	 	 	 	0.263	 	 	 	0.285	 	 	 	0.305	 	 	 	0.323	 	 	 	0.339	 	 	 	0.353	 	 	 	0.361	 
	33 months	 	 	0.205	 	 	 	0.232	 	 	 	0.257	 	 	 	0.280	 	 	 	0.301	 	 	 	0.320	 	 	 	0.337	 	 	 	0.352	 	 	 	0.361	 
	30 months	 	 	0.196	 	 	 	0.224	 	 	 	0.250	 	 	 	0.274	 	 	 	0.297	 	 	 	0.316	 	 	 	0.335	 	 	 	0.351	 	 	 	0.361	 
	27 months	 	 	0.185	 	 	 	0.214	 	 	 	0.242	 	 	 	0.268	 	 	 	0.291	 	 	 	0.313	 	 	 	0.332	 	 	 	0.350	 	 	 	0.361	 
	24 months	 	 	0.173	 	 	 	0.204	 	 	 	0.233	 	 	 	0.260	 	 	 	0.285	 	 	 	0.308	 	 	 	0.329	 	 	 	0.348	 	 	 	0.361	 
	21 months	 	 	0.161	 	 	 	0.193	 	 	 	0.223	 	 	 	0.252	 	 	 	0.279	 	 	 	0.304	 	 	 	0.326	 	 	 	0.347	 	 	 	0.361	 
	18 months	 	 	0.146	 	 	 	0.179	 	 	 	0.211	 	 	 	0.242	 	 	 	0.271	 	 	 	0.298	 	 	 	0.322	 	 	 	0.345	 	 	 	0.361	 
	15 months	 	 	0.130	 	 	 	0.164	 	 	 	0.197	 	 	 	0.230	 	 	 	0.262	 	 	 	0.291	 	 	 	0.317	 	 	 	0.342	 	 	 	0.361	 
	12 months	 	 	0.111	 	 	 	0.146	 	 	 	0.181	 	 	 	0.216	 	 	 	0.250	 	 	 	0.282	 	 	 	0.312	 	 	 	0.339	 	 	 	0.361	 
	9 months	 	 	0.090	 	 	 	0.125	 	 	 	0.162	 	 	 	0.199	 	 	 	0.237	 	 	 	0.272	 	 	 	0.305	 	 	 	0.336	 	 	 	0.361	 
	6 months	 	 	0.065	 	 	 	0.099	 	 	 	0.137	 	 	 	0.178	 	 	 	0.219	 	 	 	0.259	 	 	 	0.296	 	 	 	0.331	 	 	 	0.361	 
	3 months 	 	 	0.034	 	 	 	0.065	 	 	 	0.104	 	 	 	0.150	 	 	 	0.197	 	 	 	0.243	 	 	 	0.286	 	 	 	0.326	 	 	 	0.361	 
	0 months 	 	 	—	 	 	 	—	 	 	 	0.042	 	 	 	0.115	 	 	 	0.179	 	 	 	0.233	 	 	 	0.281	 	 	 	0.323	 	 	 	0.361	 

 

The

exact Redemption Fair Market Value and Redemption Date may not be set forth in the table above, in which case, if the Redemption

Fair Market Value is between two values in the table or the Redemption Date is between two redemption dates in the table, the

number of Ordinary Shares to be issued for each Warrant exercised in a Make-Whole Exercise shall be determined by a straight-line

interpolation between the number of shares set forth for the higher and lower Redemption Fair Market Values and the earlier and

later redemption dates, as applicable, based on a 365- or 366-day year, as applicable.

 

The

share prices set forth in the column headings of the table above shall be adjusted as of any date on which the number of shares

issuable upon exercise of a Warrant is adjusted pursuant to Section 4 hereof. The adjusted share prices in the column headings

shall equal the share prices immediately prior to such adjustment, multiplied by a fraction, the numerator of which is the number

of shares deliverable upon exercise of a Warrant immediately prior to such adjustment and the denominator of which is the number

of shares deliverable upon exercise of a Warrant as so adjusted. The number of shares in the table above shall be adjusted in

the same manner and at the same time as the number of shares issuable upon exercise of a Warrant. In no event shall the number

of shares issued in connection with a Make-Whole Exercise exceed 0.361 Ordinary Shares per Warrant (subject to adjustment).

 

    10

     

    

 

6.3.

Date Fixed for, and Notice of, Redemption; Redemption Price; Reference Value. In the event that the Company elects to redeem

the Warrants pursuant to Sections 6.1 or 6.2, the Company shall fix a date for the redemption (the “Redemption Date”).

Notice of redemption shall be mailed by first class mail, postage prepaid, by the Company not less than thirty (30) days prior

to the Redemption Date (the “30-day Redemption Period”) to the Registered Holders of the Warrants to

be redeemed at their last addresses as they shall appear on the registration books. Any notice mailed in the manner herein provided

shall be conclusively presumed to have been duly given whether or not the Registered Holder received such notice. As used in this

Agreement, (a) “Redemption Price” shall mean the price per Warrant at which any Warrants are redeemed

pursuant to Sections 6.1 or 6.2 and (b) “Reference Value” shall mean the last reported sales price of

the Ordinary Shares for any twenty (20) trading days within the thirty (30) trading-day period ending on the third trading

day prior to the date on which notice of the redemption is given.

 

6.4.

Exercise After Notice of Redemption. The Warrants may be exercised, for cash (or on a “cashless basis” in accordance

with Section 6.2 of this Agreement) at any time after notice of redemption shall have been given by the Company pursuant

to Section 6.3 hereof and prior to the Redemption Date. On and after the Redemption Date, the record holder of the Warrants

shall have no further rights except to receive, upon surrender of the Warrants, the Redemption Price.

 

6.5.

Exclusion of Private Placement Warrants. The Company agrees that (a) the redemption rights provided in Section 6.1

hereof shall not apply to the Private Placement Warrants if at the time of the redemption such Private Placement Warrants continue

to be held by the Sponsor or its Permitted Transferees and (b) if the Reference Value equals or exceeds $18.00 per share

(subject to adjustment in compliance with Section 4 hereof), the redemption rights provided in Section 6.2 hereof shall

not apply to the Private Placement Warrants if at the time of the redemption such Private Placement Warrants continue to be held

by the Sponsor or its Permitted Transferees. However, once such Private Placement Warrants are transferred (other than to Permitted

Transferees in accordance with Section 2.6 hereof), the Company may redeem the Private Placement Warrants pursuant to Section 6.1

or 6.2 hereof, provided that the criteria for redemption are met, including the opportunity of the holder of such Private Placement

Warrants to exercise the Private Placement Warrants prior to redemption pursuant to Section 6.4 hereof. Private Placement

Warrants that are transferred to persons other than Permitted Transferees shall upon such transfer cease to be Private Placement

Warrants and shall become Public Warrants under this Agreement, including for purposes of Section 9.8 hereof.

 

7.

Other Provisions Relating to Rights of Holders of Warrants.

 

7.1.

No Rights as Shareholder. A Warrant does not entitle the Registered Holder thereof to any of the rights of a shareholder

of the Company, including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive

rights to vote or to consent or to receive notice as shareholders in respect of the meetings of shareholders or the election of

directors of the Company or any other matter.

 

7.2.

Lost, Stolen, Mutilated, or Destroyed Warrants. If any Warrant is lost, stolen, mutilated, or destroyed, the Company and

the Warrant Agent may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case

of a mutilated Warrant, include the surrender thereof), issue a new Warrant of like denomination, tenor, and date as the Warrant

so lost, stolen, mutilated, or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company,

whether or not the allegedly lost, stolen, mutilated, or destroyed Warrant shall be at any time enforceable by anyone.

 

7.3.

Reservation of Ordinary Shares. The Company shall at all times reserve and keep available a number of its authorized but

unissued Ordinary Shares that shall be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to

this Agreement.

 

    11

     

    

 

7.4.

Registration of Ordinary Shares; Cashless Exercise at Company’s Option.

  

7.4.1.

Registration of the Ordinary Shares. The Company agrees that as soon as practicable, but in no event later than twenty

(20) Business Days after the closing of its initial Business Combination, it shall use its commercially reasonable efforts

to file with the Commission a registration statement for the registration, under the Securities Act, of the Ordinary Shares issuable

upon exercise of the Warrants. The Company shall use its commercially reasonable efforts to cause the same to become effective

within sixty (60) Business Days following the closing of its initial Business Combination and to maintain the effectiveness

of such registration statement, and a current prospectus relating thereto, until the expiration or redemption of the Warrants

in accordance with the provisions of this Agreement. If any such registration statement has not been declared effective by the

sixtieth (60th) Business Day following the closing of the Business Combination, holders of the Warrants shall have the right,

during the period beginning on the sixty-first (61st) Business Day after the closing of the Business Combination and ending upon

such registration statement being declared effective by the Commission, and during any other period when the Company shall fail

to have maintained an effective registration statement covering the issuance of the Ordinary Shares issuable upon exercise of

the Warrants, to exercise such Warrants on a “cashless basis,” by exchanging the Warrants (in accordance with Section 3(a)(9)

of the Securities Act or another exemption) for that number of Ordinary Shares equal to the lesser of (A) the quotient obtained

by dividing (x) the product of the number of Ordinary Shares underlying the Warrants, multiplied by the excess of the “Fair

Market Value” (as defined below) over the Warrant Price by (y) the Fair Market Value and (B) 0.361. Solely for purposes

of this subsection 7.4.1, “Fair Market Value” shall mean the average last reported sales price of the

Ordinary Shares for the ten (10) trading day period ending on the third trading day prior to the date that notice of exercise

is received by the Warrant Agent from the holder of such Warrants or its securities broker or intermediary. The date that notice

of “cashless exercise” is received by the Warrant Agent shall be conclusively determined by the Warrant Agent. In

connection with the “cashless exercise” of a Public Warrant, the Company shall, upon request, provide the Warrant

Agent with an opinion of counsel for the Company (which shall be an outside law firm with securities law experience) stating that

(i) the exercise of the Warrants on a “cashless basis” in accordance with this subsection 7.4.1 is not required

to be registered under the Securities Act and (ii) the Ordinary Shares issued upon such exercise shall be freely tradable

under United States federal securities laws by anyone who is not an affiliate (as such term is defined in Rule 144 under the Securities

Act) of the Company and, accordingly, shall not be required to bear a restrictive legend. Except as provided in subsection 7.4.2,

for the avoidance of doubt, unless and until all of the Warrants have been exercised or have expired, the Company shall continue

to be obligated to comply with its registration obligations under the first three sentences of this subsection 7.4.1.

 

7.4.2.

Cashless Exercise at Company’s Option. If the Ordinary Shares are at the time of any exercise of a Public Warrant

not listed on a national securities exchange such that they satisfy the definition of a “covered security” under Section 18(b)(1)

of the Securities Act, the Company may, at its option, (i) require holders of Public Warrants who exercise Public Warrants

to exercise such Public Warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act

as described in subsection 7.4.1 and (ii) in the event the Company so elects, the Company shall (x) not be required

to file or maintain in effect a registration statement for the registration, under the Securities Act, of the Ordinary Shares

issuable upon exercise of the Warrants, notwithstanding anything in this Agreement to the contrary, and (y) use its commercially

reasonable efforts to register or qualify for sale the Ordinary Shares issuable upon exercise of the Public Warrant under applicable

blue sky laws to the extent an exemption is not available.

 

8.

Concerning the Warrant Agent and Other Matters.

 

8.1.

Payment of Taxes. The Company shall from time to time promptly pay all taxes and charges that may be imposed upon the Company

or the Warrant Agent in respect of the issuance or delivery of Ordinary Shares upon the exercise of the Warrants, but the Company

shall not be obligated to pay any transfer taxes in respect of the Warrants or such shares.

 

8.2.

Resignation, Consolidation, or Merger of Warrant Agent.

 

8.2.1.

Appointment of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its duties

and be discharged from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing

to the Company. If the office of the Warrant Agent becomes vacant by resignation or incapacity to act or otherwise, the Company

shall appoint in writing a successor Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment

within a period of thirty (30) days after it has been notified in writing of such resignation or incapacity by the Warrant

Agent or by the holder of a Warrant (who shall, with such notice, submit his, her or its Warrant for inspection by the Company),

then the holder of any Warrant may apply to the Supreme Court of the State of New York for the County of New York for the appointment

of a successor Warrant Agent at the Company’s cost. Any successor Warrant Agent, whether appointed by the Company or by

such court, shall be a corporation or other entity organized and existing under the laws of the State of New York, in good standing

and having its principal office in the United States of America, and authorized under such laws to exercise corporate trust powers

and subject to supervision or examination by federal or state authority. After appointment, any successor Warrant Agent shall

be vested with all the authority, powers, rights, immunities, duties, and obligations of its predecessor Warrant Agent with like

effect as if originally named as Warrant Agent hereunder, without any further act or deed; but if for any reason it becomes necessary

or appropriate, the predecessor Warrant Agent shall execute and deliver, at the expense of the Company, an instrument transferring

to such successor Warrant Agent all the authority, powers, and rights of such predecessor Warrant Agent hereunder; and upon request

of any successor Warrant Agent the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for

more fully and effectually vesting in and confirming to such successor Warrant Agent all such authority, powers, rights, immunities,

duties, and obligations.

 

    12

     

    

 

8.2.2.

Notice of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give notice

thereof to the predecessor Warrant Agent and the Transfer Agent for the Ordinary Shares not later than the effective date of any

such appointment.

 

8.2.3.

Merger or Consolidation of Warrant Agent. Any entity into which the Warrant Agent may be merged or with which it may be

consolidated or any entity resulting from any merger or consolidation to which the Warrant Agent shall be a party shall be the

successor Warrant Agent under this Agreement without any further act.

 

8.3.

Fees and Expenses of Warrant Agent.

 

8.3.1.

Remuneration. The Company agrees to pay the Warrant Agent reasonable remuneration for its services as such Warrant Agent

hereunder and shall, pursuant to its obligations under this Agreement, reimburse the Warrant Agent upon demand for all expenditures

that the Warrant Agent may reasonably incur in the execution of its duties hereunder.

 

8.3.2.

Further Assurances. The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed,

acknowledged, and delivered all such further and other acts, instruments, and assurances as may reasonably be required by the

Warrant Agent for the carrying out or performing of the provisions of this Agreement.

 

8.4.

Liability of Warrant Agent.

 

8.4.1.

Reliance on Company Statement. Whenever in the performance of its duties under this Agreement, the Warrant Agent shall

deem it necessary or desirable that any fact or matter be proved or established by the Company prior to taking or suffering any

action hereunder, such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed

to be conclusively proved and established by a statement signed by the Chairman of the Board, Chief Executive Officer, Chief Financial

Officer or Secretary and delivered to the Warrant Agent. The Warrant Agent may rely upon such statement for any action taken or

suffered in good faith by it pursuant to the provisions of this Agreement.

 

8.4.2.

Indemnity. The Warrant Agent shall be liable hereunder only for its own gross negligence, willful misconduct, fraud or

bad faith. The Company agrees to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments,

out-of-pocket costs and reasonable outside counsel fees, for anything done or omitted by the Warrant Agent in the execution of

this Agreement, except as a result of the Warrant Agent’s gross negligence, willful misconduct, fraud or bad faith.

 

8.4.3.

Exclusions. The Warrant Agent shall have no responsibility with respect to the validity of this Agreement or with respect

to the validity or execution of any Warrant (except its countersignature thereof). The Warrant Agent shall not be responsible

for any breach by the Company of any covenant or condition contained in this Agreement or in any Warrant. The Warrant Agent shall

not be responsible to make any adjustments required under the provisions of Section 4 hereof or responsible for the manner,

method, or amount of any such adjustment or the ascertaining of the existence of facts that would require any such adjustment;

nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization or reservation of any

Ordinary Shares to be issued pursuant to this Agreement or any Warrant or as to whether any Ordinary Shares shall, when issued,

be valid and fully paid and nonassessable.

 

8.5.

Acceptance of Agency. The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the

same upon the terms and conditions herein set forth and among other things, shall account promptly to the Company with respect

to Warrants exercised and concurrently account for, and pay to the Company, all monies received by the Warrant Agent for the purchase

of Ordinary Shares through the exercise of the Warrants.

 

    13

     

    

 

8.6.

Waiver. The Warrant Agent has no right of set-off or any other right, title, interest or claim of any kind (“Claim”)

in, or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of

the date hereof, by and between the Company and Continental Stock Transfer & Trust Company as trustee thereunder) and

hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason

whatsoever. The Warrant Agent hereby waives any and all Claims against the Trust Account and any and all rights to seek access

to the Trust Account.

 

9.

Miscellaneous Provisions.

 

9.1.

Successors. All the covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent

shall bind and inure to the benefit of their respective successors and assigns.

 

9.2.

Notices. Any notice, statement or demand authorized by this Agreement to be given or made by the Warrant Agent or by the

holder of any Warrant to or on the Company shall be sufficiently given when so delivered if by hand or overnight delivery or if

sent by certified mail or private courier service within five (5) days after deposit of such notice, postage prepaid, addressed

(until another address is filed in writing by the Company with the Warrant Agent), as follows:

 

Isos

Acquisition Corporation

55

Post Road W, Suite 200 

Westport,

CT 06880

 

with

a copy to:

 

Ellenoff

Grossman & Schole LLP

1345

Avenue of the Americas, 11th floor

New

York, New York 10105

Attention:

Douglas S. Ellenoff, Stuart Neuhauser and Tamar Donikyan

 

Any

notice, statement or demand authorized by this Agreement to be given or made by the holder of any Warrant or by the Company to

or on the Warrant Agent shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified

mail or private courier service within five (5) days after deposit of such notice, postage prepaid, addressed (until another

address is filed in writing by the Warrant Agent with the Company), as follows:

 

Continental

Stock Transfer & Trust Company

One

State Street, 30th Floor

New

York, NY 10004

Attention:

Compliance Department

 

9.3.

Applicable Law and Exclusive Forum. The validity, interpretation, and performance of this Agreement and of the Warrants

shall be governed in all respects by the laws of the State of New York. Subject to applicable law, the Company hereby agrees that

any action, proceeding or claim against it arising out of, or otherwise based on this Agreement shall be brought and enforced

in the courts of the State of New York or the United States District Court for the Southern District of New York, and irrevocably

submits to such jurisdiction, which jurisdiction shall be exclusive forum for any such action, proceeding or claim. The Company

hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Notwithstanding

the foregoing, the provisions of this paragraph will not apply to suits brought to enforce any liability or duty created by the

Exchange Act or any other claim for which the federal district courts of the United States of America are the sole and exclusive

forum.

 

Any

person or entity purchasing or otherwise acquiring any interest in the Warrants shall be deemed to have notice of and to have

consented to the forum provisions in this Section 9.3. If any action, the subject matter of which is within the scope the

forum provisions above, is filed in a court other than a court located within the State of New York or the United States District

Court for the Southern District of New York (a “foreign action”) in the name of any warrant holder,

such warrant holder shall be deemed to have consented to: (x) the personal jurisdiction of the state and federal courts located

within the State of New York or the United States District Court for the Southern District of New York in connection with any

action brought in any such court to enforce the forum provisions (an “enforcement action”), and (y) having

service of process made upon such warrant holder in any such enforcement action by service upon such warrant holder’s counsel

in the foreign action as agent for such warrant holder.

 

    14

     

    

 

9.4.

Persons Having Rights under this Agreement. Nothing in this Agreement shall be construed to confer upon, or give to, any

person, corporation or other entity other than the parties hereto and the Registered Holders of the Warrants any right, remedy,

or claim under or by reason of this Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. All covenants,

conditions, stipulations, promises, and agreements contained in this Agreement shall be for the sole and exclusive benefit of

the parties hereto and their successors and assigns and of the Registered Holders of the Warrants.

 

9.5.

Examination of the Warrant Agreement. A copy of this Agreement shall be available at all reasonable times at the office

of the Warrant Agent in the United States of America, for inspection by the Registered Holder of any Warrant. The Warrant Agent

may require any such holder to submit such holder’s Warrant for inspection by the Warrant Agent.

 

9.6.

Counterparts. This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts

shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

9.7.

Effect of Headings. The section headings herein are for convenience only and are not part of this Agreement and shall not

affect the interpretation thereof.

 

9.8.

Amendments. This Agreement may be amended by the parties hereto without the consent of any Registered Holder for the purpose

of (i) curing any ambiguity or to correct any mistake, including to conform the provisions hereof to the description of the

terms of the Warrants and this Agreement set forth in the Prospectus, or defective provision contained herein, (ii) amending

the definition of “Ordinary Cash Dividend” as contemplated by and in accordance with the second sentence of subsection

4.1.2 or (iii) adding or changing any provisions with respect to matters or questions arising under this Agreement as the

parties may deem necessary or desirable and that the parties deem shall not adversely affect the rights of the Registered Holders

under this Agreement. All other modifications or amendments, including any modification or amendment to increase the Warrant Price

or shorten the Exercise Period and any amendment to the terms of only the Private Placement Warrants, shall require the vote or

written consent of the Registered Holders of 50% of the then-outstanding Public Warrants and, solely with respect to any amendment

to the terms of the Private Placement Warrants or any provision of this Agreement with respect to the Private Placement Warrants,

50% of the then-outstanding Private Placement Warrants. Notwithstanding the foregoing, the Company may lower the Warrant Price

or extend the duration of the Exercise Period pursuant to Sections 3.1 and 3.2, respectively, without the consent of the Registered

Holders.

 

9.9.

Severability. This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision

hereof shall not affect the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore,

in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part

of this Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and

enforceable.

 

Exhibit

A Form of Warrant Certificate

 

Exhibit

B Legend — Sponsor Private Placement Warrants

 

Exhibit

C Legend — LionTree Private Placement Warrants

 

Exhibit

D Legend — Forward Purchase Warrants

 

 

[Signature

Page to Follow]

 

    15

     

    

 

IN

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

 

	 	ISOS ACQUISITION CORPORATION
	 	 	 
	 	By:	 
	 	 	Name: 	George Barrios
	 	 	Title:	Co-Chief Executive Officer

 

	 	 	 
	 	CONTINENTAL STOCK TRANSFER &

    TRUST COMPANY, as Warrant Agent
	 	 	 
	 	By:	 
	 	 	Name:	Douglas Reed
	 	 	Title:	Vice President

 

    16

     

    

 

EXHIBIT

A 

 

Form

of Warrant Certificate 

 

    A-1

     

    

 

EXHIBIT

B 

 

Legend

 

THE

SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE

SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT

OF 1933, AS AMENDED, AND ANY APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, SUBJECT

TO ANY ADDITIONAL LIMITATIONS ON TRANSFER DESCRIBED IN THE PRIVATE PLACEMENT WARRANT PURCHASE AGREEMENT BY AND BETWEEN ISOS ACQUISITION

CORPORATION (THE “COMPANY”) AND ISOS ACQUISTION SPONSOR LLC, THE SECURITIES REPRESENTED BY THIS CERTIFICATE

MAY NOT BE SOLD OR TRANSFERRED PRIOR TO THE DATE THAT IS THIRTY (30) DAYS AFTER THE DATE UPON WHICH THE COMPANY COMPLETES

ITS INITIAL BUSINESS COMBINATION (AS DEFINED IN THE RECITALS OF THE WARRANT AGREEMENT REFERRED TO HEREIN) EXCEPT TO A PERMITTED

TRANSFEREE (AS DEFINED IN SECTION 2 OF THE WARRANT AGREEMENT) WHO AGREES IN WRITING WITH THE COMPANY TO BE SUBJECT TO SUCH TRANSFER

PROVISIONS.

 

SECURITIES

EVIDENCED BY THIS CERTIFICATE AND CLASS A ORDINARY SHARES OF THE COMPANY ISSUED UPON EXERCISE OF SUCH SECURITIES SHALL BE ENTITLED

TO REGISTRATION RIGHTS UNDER A REGISTRATION AND SHAREHOLDER RIGHTS AGREEMENT TO BE EXECUTED BY THE COMPANY.

 

NO.

[ ] WARRANT

 

    B-1

     

    

 

EXHIBIT

C

 

Legend

 

THE

SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE

SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT

OF 1933, AS AMENDED, AND ANY APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, SUBJECT

TO ANY ADDITIONAL LIMITATIONS ON TRANSFER DESCRIBED IN THE SUBSCRIPTION AGREEMENT BY AND BETWEEN ISOS ACQUISITION CORPORATION

(THE “COMPANY”) AND LIONTREE PARTNERS LLC, THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE

SOLD OR TRANSFERRED PRIOR TO THE DATE THAT IS THIRTY (30) DAYS AFTER THE DATE UPON WHICH THE COMPANY COMPLETES ITS INITIAL

BUSINESS COMBINATION (AS DEFINED IN THE RECITALS OF THE WARRANT AGREEMENT REFERRED TO HEREIN) EXCEPT TO A PERMITTED TRANSFEREE

(AS DEFINED IN SECTION 2 OF THE WARRANT AGREEMENT) WHO AGREES IN WRITING WITH THE COMPANY TO BE SUBJECT TO SUCH TRANSFER PROVISIONS.

 

SECURITIES

EVIDENCED BY THIS CERTIFICATE AND CLASS A ORDINARY SHARES OF THE COMPANY ISSUED UPON EXERCISE OF SUCH SECURITIES SHALL BE ENTITLED

TO REGISTRATION RIGHTS UNDER A REGISTRATION AND SHAREHOLDER RIGHTS AGREEMENT TO BE EXECUTED BY THE COMPANY.

 

NO.

[ ] WARRANT

 

    C-1

     

    

 

EXHIBIT

D

 

THE

SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS

AND NEITHER THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT

PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND

SUCH LAWS WHICH, IN THE OPINION OF COUNSEL, IS AVAILABLE.

 

    D-1Exhibit 10.1

 

INVESTMENT MANAGEMENT TRUST AGREEMENT

 

This Investment Management Trust Agreement
(this “Agreement”) is made effective as of_____, 2021 by and between Isos Acquisition Corp., a Cayman
Islands exempted company (the “Company”), and Continental Stock Transfer & Trust Company, a
New York corporation (the “Trustee”).

 

WHEREAS, the Company’s registration
statement on Form S-1, File No. 333-252283 (the “Registration Statement”) and prospectus (the “Prospectus”)
for the initial public offering of the Company’s units (the “Units”), each of which consists of
one of the Company’s Class A ordinary shares, par value $0.0001 per share (the “Ordinary Shares”),
and one-third of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one Ordinary Share (such initial
public offering hereinafter referred to as the “Offering”), has been declared effective as of the date
hereof by the U.S. Securities and Exchange Commission; and

 

WHEREAS, the Company has entered into an
Underwriting Agreement (the “Underwriting Agreement”) with J.P. Morgan Securities LLC, as representative
(the “Representative”) to the several underwriters (the “Underwriters”) named
therein; and

 

WHEREAS, as described in the Prospectus,
$200,000,000 of the gross proceeds of the Offering (or $230,000,000 if the Underwriters’ option to purchase additional units
is exercised in full) and sale of the Private Placement Warrants (as defined in the Underwriting Agreement) will be delivered to
the Trustee to be deposited and held in a segregated trust account located at all times in the United States (the “Trust
Account”) for the benefit of the Company and the holders of the Ordinary Shares included in the Units issued in the
Offering as hereinafter provided (the amount to be delivered to the Trustee (and any interest subsequently earned thereon) is referred
to herein as the “Property,” the shareholders for whose benefit the Trustee shall hold the Property will
be referred to as the “Public Shareholders,” and the Public Shareholders and the Company will be referred
to together as the “Beneficiaries”); and

 

WHEREAS, pursuant to the Underwriting Agreement,
a portion of the Property equal to $7,000,000, or $8,050,000 if the Underwriters’ option to purchase additional units is
exercised in full, is attributable to deferred underwriting discounts and commissions that will be payable by the Company to the
Underwriters upon the consummation of the Business Combination (as defined below) (the “Deferred Discount”);
and

 

WHEREAS, the Company and the Trustee desire
to enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee shall hold the Property.

 

NOW THEREFORE, IT IS AGREED:

 

1. Agreements and Covenants of Trustee.
The Trustee hereby agrees and covenants to:

 

(a) Hold the Property in trust for the
Beneficiaries in accordance with the terms of this Agreement in the Trust Account established by the Trustee located in the United
States at J.P. Morgan Chase Bank, N.A. (or at another U.S. chartered commercial bank with consolidated assets of $100 billion
or more) in the United States, maintained by Trustee and at a brokerage institution selected by the Trustee that is reasonably
satisfactory to the Company;

 

(b) Manage, supervise and administer the
Trust Account subject to the terms and conditions set forth herein;

 

(c) In a timely manner, upon the written
instruction of the Company, invest and reinvest the Property in United States government securities within the meaning of Section 2(a)(16)
of the Investment Company Act of 1940, as amended, having a maturity of 185 days or less, or in money market funds meeting the
conditions of paragraphs (d)(1), (d)(2), (d)(3) and (d)(4) of Rule 2a-7 promulgated under the Investment Company Act of 1940, as
amended (or any successor rule), which invest only in direct U.S. government treasury obligations, as determined by the Company;
the Trustee may not invest in any other securities or assets, it being understood that the Trust Account will earn no interest
while account funds are uninvested awaiting the Company’s instructions hereunder and the Trustee may earn bank credits or
other consideration;

 

    

    

    

 

(d) Collect and receive, when due, all
principal, interest or other income arising from the Property, which shall become part of the “Property,”
as such term is used herein;

 

(e) Promptly notify the Company and the
Representatives of all communications received by the Trustee with respect to any Property requiring action by the Company;

 

(f) Supply any necessary information or
documents as may be requested by the Company (or its authorized agents) in connection with the Company’s preparation of the
tax returns relating to assets held in the Trust Account;

 

(g) Participate in any plan or proceeding
for protecting or enforcing any right or interest arising from the Property if, as and when instructed by the Company to do so;

 

(h) Render to the Company monthly written
statements of the activities of, and amounts in, the Trust Account reflecting all receipts and disbursements of the Trust Account;

 

(i) Commence liquidation of the Trust Account
only after and promptly following (x) receipt of, and only in accordance with, the terms of a letter from the Company (“Termination
Letter”) in a form substantially similar to that attached hereto as either Exhibit A or Exhibit B,
as applicable, signed on behalf of the Company by its Chief Executive Officer, Chief Financial Officer or other authorized officer
of the Company, and complete the liquidation of the Trust Account and distribute the Property in the Trust Account, including interest
earned on the funds held in the Trust Account and not previously released to the Company to pay its income taxes, if any, (less
up to $100,000 of interest to pay dissolution expenses), only as directed in the Termination Letter and the other documents referred
to therein, or (y) upon the date which is the later of (1) 24 months after the closing of the Offering and (2) such later
date as may be approved by the Company’s shareholders in accordance with the Company’s amended and restated memorandum
and articles of association, if a Termination Letter has not been received by the Trustee prior to such date, in which case the
Trust Account shall be liquidated in accordance with the procedures set forth in the Termination Letter attached as Exhibit
B and the Property in the Trust Account, including interest earned on the funds held in the Trust Account and not previously
released to the Company to pay its income taxes, if any, (less up to $100,000 of interest to pay dissolution expenses), shall be
distributed to the Public Shareholders of record as of such date. It is acknowledged and agreed that there should be no reduction
in the principal amount per share initially deposited in the Trust Account;

 

(j) Upon written request from the Company,
which may be given from time to time in a form substantially similar to that attached hereto as Exhibit C (a “Tax
Payment Withdrawal Instruction”), withdraw from the Trust Account and distribute to the Company the amount of interest
earned on the Property requested by the Company to cover any tax obligation owed by the Company as a result of assets of the Company
or interest or other income earned on the Property, which amount shall be delivered directly to the Company by electronic funds
transfer or other method of prompt payment, and the Company shall forward such payment to the relevant taxing authority, so long
as there is no reduction in the principal amount per share initially deposited in the Trust Account; provided, however,
that to the extent there is not sufficient cash in the Trust Account to pay such tax obligation, the Trustee shall liquidate such
assets held in the Trust Account as shall be designated by the Company in writing to make such distribution, so long as there is
no reduction in the principal amount per share initially deposited in the Trust Account (it being acknowledged and agreed that
any such amount in excess of interest income earned on the Property shall not be payable from the Trust Account). The written request
of the Company referenced above shall constitute presumptive evidence that the Company is entitled to said funds, and the Trustee
shall have no responsibility to look beyond said request;

 

(k) Upon written request from the Company,
which may be given from time to time in a form substantially similar to that attached hereto as Exhibit D (a “Shareholder
Redemption Withdrawal Instruction”), the Trustee shall distribute to the remitting brokers on behalf of Public Shareholders
redeeming Ordinary Shares the amount required to pay redeemed Ordinary Shares from Public Shareholders pursuant to the Company’s
amended and restated memorandum and articles of association; and

 

(l) Not make any withdrawals or distributions
from the Trust Account other than pursuant to Section 1(i), (j) or (k) above.

 

2. Agreements and Covenants of the Company.
The Company hereby agrees and covenants to:

 

(a) Give all instructions to the Trustee
hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer
of the Company. In addition, except with respect to its duties under Sections 1(i), (j) or (k) hereof,
the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction
which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written
instructions, provided that the Company shall promptly confirm such instructions in writing;

 

    2

    

    

 

(b) Subject to Section 4 hereof,
hold the Trustee harmless and indemnify the Trustee from and against any and all reasonable and documented expenses, including
reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder
and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with
any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the
Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence,
fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any
action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(b),
it shall notify the Company in writing of such claim (hereinafter referred to as the “Indemnified Claim”).
The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided that the Trustee
shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld.
The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent
shall not be unreasonably withheld. The Company may participate in such action with its own counsel;

 

(c) Pay the Trustee the fees set forth
on Schedule A hereto, including an initial acceptance fee, annual administration fee, and transaction processing fee which
fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not
be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(i) through 1(k)
hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation
of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this
Section 2(c) and as may be provided in Section 2(b) hereof;

 

(d) In connection with any vote of the
Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business
combination involving the Company and one or more businesses (the “Business Combination”), provide to
the Trustee an affidavit or certificate of the inspector of elections for the shareholder meeting verifying the vote of such shareholders
regarding such Business Combination;

 

(e) Provide the Representatives with a
copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal
from the Trust Account promptly after it issues the same;

 

(f) Unless otherwise agreed between the
Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with
a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account
or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust
Account to the Company or any other person;

 

(g) Instruct the Trustee to make only those
distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that
are not permitted under this Agreement;

 

(h) If the Company seeks to amend any provisions
of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s
obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s
initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination
within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the
Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an
“Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution
of funds to Public Shareholders who exercise their redemption option and properly tender their shares in connection with such Amendment;
and

 

(i) Within five (5) business days
after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to
purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.

 

    3

    

    

 

3. Limitations of Liability. The
Trustee shall have no responsibility or liability to:

 

(a) Imply obligations, perform duties,
inquire or otherwise be subject to the provisions of any agreement or document other than this Agreement and that which is expressly
set forth herein;

 

(b) Take any action with respect to the
Property, other than as directed in Section 1 hereof, and the Trustee shall have no liability to any third party except
for liability arising out of the Trustee’s gross negligence, fraud or willful misconduct;

(c) Institute any proceeding for the collection
of any principal and income arising from, or institute, appear in or defend any proceeding of any kind with respect to, any of
the Property unless and until it shall have received written instructions from the Company given as provided herein to do so and
the Company shall have advanced or guaranteed to it funds sufficient to pay any expenses incident thereto;

 

(d) Change the investment of any Property,
other than in compliance with Section 1 hereof;

 

(e) Refund any depreciation in principal
of any Property;

 

(f) Assume that the authority of any person
designated by the Company to give instructions hereunder shall not be continuing unless provided otherwise in such designation,
or unless the Company shall have delivered a written revocation of such authority to the Trustee;

 

(g) The other parties hereto or to
anyone else for any action taken or omitted by it, or any action suffered by it to be taken or omitted, in good faith and in
the Trustee’s best judgment, except for the Trustee’s gross negligence, fraud or willful misconduct. The Trustee
may rely conclusively and shall be protected in acting upon any order, notice, demand, certificate, opinion or advice of
counsel (including counsel chosen by the Trustee with written notification to the Company, which counsel may be the
Company’s counsel), statement, instrument, report or other paper or document (not only as to its due execution and the
validity and effectiveness of its provisions, but also as to the truth and acceptability of any information therein
contained) which the Trustee believes, in good faith and with reasonable care, to be genuine and to be signed or presented by
the proper person or persons. The Trustee shall not be bound by any notice or demand, or any waiver, modification,
termination or rescission of this Agreement or any of the terms hereof, unless evidenced by a written instrument delivered to
the Trustee, signed by the proper party or parties and, if the duties or rights of the Trustee are affected, unless it shall
give its prior written consent thereto;

 

(h) Verify the accuracy of the information
contained in the Registration Statement;

 

(i) Provide any assurance that any Business
Combination entered into by the Company or any other action taken by the Company is as contemplated by the Registration Statement;

 

(j) File information returns with respect
to the Trust Account with any local, state or federal taxing authority or provide periodic written statements to the Company documenting
the taxes payable by the Company, if any, relating to any interest income earned on the Property;

 

(k) Prepare, execute and file tax reports,
income or other tax returns and pay any taxes with respect to any income generated by, and activities relating to, the Trust Account,
regardless of whether such tax is payable by the Trust Account or the Company, including, but not limited to, income tax obligations,
except pursuant to Section 1(j) hereof; or

 

(l) Verify calculations, qualify or otherwise
approve the Company’s written requests for distributions pursuant to Sections 1(i), 1(j) or 1(k) hereof.

 

4. Trust Account Waiver. The Trustee
has 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. In the event the Trustee has any Claim against the Company under this Agreement, including, without limitation,
under Section 2(b) or Section 2(c) hereof, the Trustee 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.

 

5. Termination. This Agreement shall
terminate as follows:

 

(a) If the Trustee gives written notice
to the Company that it desires to resign under this Agreement, the Company shall use its reasonable efforts to locate a successor
trustee, pending which the Trustee shall continue to act in accordance with this Agreement. At such time that the Company notifies
the Trustee that a successor trustee has been appointed by the Company and has agreed to become subject to the terms of this Agreement,
the Trustee shall transfer the management of the Trust Account to the successor trustee, including but not limited to the transfer
of copies of the reports and statements relating to the Trust Account, whereupon this Agreement shall terminate; provided,
however, that in the event that the Company does not locate a successor trustee within ninety (90) days of receipt
of the resignation notice from the Trustee, the Trustee may submit an application to have the Property deposited with any court
in the State of New York or with the United States District Court for the Southern District of New York and upon such deposit,
the Trustee shall be immune from any liability whatsoever; or

 

    4

    

    

 

(b) At such time that the Trustee has completed
the liquidation of the Trust Account and its obligations in accordance with the provisions of Section 1(i) hereof and
distributed the Property in accordance with the provisions of the Termination Letter, this Agreement shall terminate except with
respect to Section 2(b).

 

6. Miscellaneous. (a) The Company
and the Trustee each acknowledge that the Trustee will follow the security procedures set forth herein with respect to funds transferred
from the Trust Account. The Company and the Trustee will each restrict access to confidential information relating to such security
procedures to authorized persons. Each party must notify the other party immediately if it has reason to believe unauthorized persons
may have obtained access to such confidential information, or of any change in its authorized personnel. In executing funds transfers,
the Trustee shall rely upon all information supplied to it by the Company, including, account names, account numbers, and all other
identifying information relating to a Beneficiary, Beneficiary’s bank or intermediary bank. Except for any liability arising
out of the Trustee’s gross negligence, fraud or willful misconduct, the Trustee shall not be liable for any loss, liability
or expense resulting from any error in the information or transmission of the funds.

 

(b) This Agreement shall be governed by
and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflicts of law principles
that would result in the application of the substantive laws of another jurisdiction. This Agreement may be executed in several
original or facsimile counterparts, each one of which shall constitute an original, and together shall constitute but one instrument.

 

(c) This Agreement contains the entire
agreement and understanding of the parties hereto with respect to the subject matter hereof. Except for Section 1(i),
1(j) and 1(k) hereof (which sections may not be modified, amended or deleted without the affirmative vote of sixty-five
percent (65%) of the then outstanding Ordinary Shares and Class B ordinary shares, par value $0.0001 per share, of the Company,
voting together as a single class; provided that no such amendment will affect any Public Shareholder who has properly elected
to redeem his or her Ordinary Shares in connection with a shareholder vote for an Amendment, this Agreement or any provision hereof
may only be changed, amended or modified (other than to correct a typographical error) by a writing signed by each of the parties
hereto.

 

(d) The parties hereto consent to the jurisdiction
and venue of any state or federal court located in the City of New York, State of New York, for purposes of resolving any disputes
hereunder. AS TO ANY CLAIM, CROSS-CLAIM OR COUNTERCLAIM IN ANY WAY RELATING TO THIS AGREEMENT, EACH PARTY WAIVES THE RIGHT TO TRIAL
BY JURY.

 

(e) Any notice, consent or request to be
given in connection with any of the terms or provisions of this Agreement shall be in writing and shall be sent by express mail
or similar private courier service, by certified mail (return receipt requested), by hand delivery or by electronic mail or facsimile
transmission:

 

if to the Trustee, to:

 

Continental Stock Transfer &
Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis E. Wolf, Jr.
& Celeste Gonzalez

Email: fwolf@continentalstock.com

cgonzalez@continentalstock.com

 

    5

    

    

 

if to the Company, to:

 

Isos Acquisition Corp.

55 Post Road w, Suite 200 

Westport, CT 06880

 

in each case, with copies to:

 

Ellenoff Grossman & Schole
LLP

1345 Avenue of the Americas,
11th Floor

New York, New York 10105

Attention: Tamar Donikyan

 

and

 

J.P. Morgan Securities LLC

383 Madison Avenue, 37th Floor

New York, New York 10179

Attn: Equity Syndicate Desk

 

and:

 

Davis Polk & Wardwell
LLP

450 Lexington Avenue

New York, New York 10017

Attn.: Deanna Kirkpatrick,
Derek Dostal and Roshni Banker Cariello

Email: deanna.kirkpatrick@davispolk.com

Email: derek.dostal@davispolk.com

Email: roshni.cariello@davispolk.com

 

(f) Each of the Company and the Trustee
hereby represents that it has the full right and power and has been duly authorized to enter into this Agreement and to perform
its respective obligations as contemplated hereunder. The Trustee acknowledges and agrees that it shall not make any claims or
proceed against the Trust Account, including by way of set-off, and shall not be entitled to any funds in the Trust Account under
any circumstance.

 

(g) This Agreement is the joint product
of the Trustee and the Company and each provision hereof has been subject to the mutual consultation, negotiation and agreement
of such parties and shall not be construed for or against any party hereto.

 

(h) This Agreement may be executed in any
number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute one
and the same instrument. Delivery of a signed counterpart of this Agreement by facsimile or electronic transmission shall constitute
valid and sufficient delivery thereof.

 

(i) Each of the Company and the Trustee
hereby acknowledges and agrees that the Representatives on behalf of the Underwriters are third-party beneficiaries of this Agreement.

 

(j) Except as specified herein, no party
to this Agreement may assign its rights or delegate its obligations hereunder to any other person or entity.

 

[Signature Page Follows]

 

    6

    

    

 

IN WITNESS WHEREOF, the parties
have duly executed this Investment Management Trust Agreement as of the date first written above.

 

	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Trustee
	 	 	 
	 	By:	                      
	 	 	Name: 
	 	 	Title: 

 

	 	ISOS ACQUISITION CORP.
	 	 	 
	 	By:	 
	 	 	Name: 	George Barrios
	 	 	Title: 	Co-Chief Executive Officer
	 	 	 
	 	By:	 
	 	 	Name: 	Michelle Wilson
	 	 	Title: 	Co-Chief Executive Officer

 

    7

    

    

 

SCHEDULE A 

 

	Fee Item	 	Time and Method of Payment	 	Amount	 
	Initial acceptance fee	 	Initial closing of the offering by wire transfer	 	$	3,500	 
	 	 	 	 	 	 	 
	Annual fee	 	First year, initial closing of the Offering by wire transfer; thereafter $10,000.00 on the anniversary of the effective date of the Offering by wire transfer or check	 	$	10,000	 
	 	 	 	 	 	 	 
	Transaction processing fee for disbursements to Company under Sections 1(i), (j) and (k)	 	Billed by Trustee to Company under Section 1	 	$	250.00	 
	 	 	 	 	 	 	 
	Paying Agent services as required pursuant to Section 1(i) and 1(k)	 	Billed to Company upon delivery of service pursuant to Section 1(i) and 1(k)	 	 	Prevailing
                                            rates	 

 

    

    

    

 

EXHIBIT A

 

[Letterhead of Company]

 

[Insert date] 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf & Celeste Gonzalez

 

Re: Trust Account – Termination Letter

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section 1(i) of the Investment
Management Trust Agreement between Isos Acquisition Corp. (the “Company”) and Continental Stock Transfer &
Trust Company (“Trustee”), dated as of [●], 2021 (the “Trust Agreement”),
this is to advise you that the Company has entered into an agreement with [●] (the “Target Business”)
to consummate a business combination with Target Business (the “Business Combination”) on or about [insert
date]. The Company shall notify you at least seventy-two (72) hours in advance of the actual date (or such shorter time period
as you may agree) of the consummation of the Business Combination (the “Consummation Date”). Capitalized
terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

In accordance with the terms of the Trust
Agreement, we hereby authorize you to commence to liquidate all of the assets of the Trust Account, and to transfer the proceeds
into the trust operating account at J.P. Morgan Chase Bank, N.A. to the effect that, on the Consummation Date, all of the funds
held in the Trust Account will be immediately available for transfer to the account or accounts that the Representatives (with
respect to the Deferred Discount) and the Company shall direct on the Consummation Date. It is acknowledged and agreed that while
the funds are on deposit in said trust operating account at J.P. Morgan Chase Bank, N.A. awaiting distribution, neither the Company
nor the Representatives will earn any interest or dividends.

 

On the Consummation Date (i) counsel
for the Company shall deliver to you written notification that the Business Combination has been consummated, or will be consummated
substantially concurrently with your transfer of funds to the accounts as directed by the Company (the “Notification”),
and (ii) the Company shall deliver to you (a) a certificate of the Chief Executive Officer, Chief Financial Officer or
other authorized officer of the Company, which verifies that the Business Combination has been approved by a vote of the Company’s
shareholders, if a vote is held and (b) joint written instruction signed by the Company and the Representatives with respect
to the transfer of the funds held in the Trust Account, including payment of the Deferred Discount from the Trust Account (the
“Instruction Letter”). You are hereby directed and authorized to transfer the funds held in the Trust
Account immediately upon your receipt of the Notification and the Instruction Letter, in accordance with the terms of the Instruction
Letter. In the event that certain deposits held in the Trust Account may not be liquidated by the Consummation Date without penalty,
you will notify the Company in writing of the same and the Company shall direct you as to whether such funds should remain in the
Trust Account and be distributed after the Consummation Date to the Company. Upon the distribution of all the funds, net of any
payments necessary for reasonable unreimbursed expenses related to liquidating the Trust Account, your obligations under the Trust
Agreement shall be terminated.

 

In the event that the Business Combination
is not consummated on the Consummation Date described in the notice thereof and we have not notified you on or before the original
Consummation Date of a new Consummation Date, then upon receipt by the Trustee of written instructions from the Company, the funds
held in the Trust Account shall be reinvested as provided in Section 1(c) of the Trust Agreement on the business day immediately
following the Consummation Date as set forth in such notice as soon thereafter as possible.

 

	 	Very truly yours,
	 	 
	 	ISOS Acquisition Corp.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

	cc:	J.P. Morgan Securities LLC 

 

    

    

    

 

EXHIBIT B

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf & Celeste Gonzalez

 

Re: Trust Account – Termination Letter

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section 1(i) of the Investment
Management Trust Agreement between Isos Acquisition Corp. (the “Company”) and Continental Stock Transfer &
Trust Company (the “Trustee”), dated as of [●], 2021 (the “Trust Agreement”),
this is to advise you that the Company has been unable to effect a business combination with a Target Business (the “Business
Combination”) within the time frame specified in the Company’s Amended and Restated Memorandum and Articles
of Association, as described in the Company’s Prospectus relating to the Offering. Capitalized terms used but not defined
herein shall have the meanings set forth in the Trust Agreement.

 

In accordance with the terms of the Trust
Agreement, we hereby authorize you to liquidate all of the assets in the Trust Account and to transfer the total proceeds into
the trust operating account at J.P. Morgan Chase Bank, N.A. to await distribution to the Public Shareholders. The Company has selected
[●] as the effective date for the purpose of determining when the Public Shareholders will be entitled to receive their share
of the liquidation proceeds. It is acknowledged that no interest will be earned by the Company on the liquidation proceeds while
on deposit in the trust operating account. You agree to be the Paying Agent of record and, in your separate capacity as Paying
Agent, agree to distribute said funds directly to the Company’s Public Shareholders in accordance with the terms of the Trust
Agreement and the Amended and Restated Memorandum and Articles of Association of the Company. Upon the distribution of all the
funds, net of any payments necessary for reasonable unreimbursed expenses related to liquidating the Trust Account, your obligations
under the Trust Agreement shall be terminated, except to the extent otherwise provided in Section 1(j) of the Trust Agreement.

 

	 	Very truly yours,
	 	 
	 	ISOS ACQUISITION CORP.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

	cc:	J.P. Morgan Securities LLC 

 

 

    

    

    

 

EXHIBIT C

 

[Letterhead of Company]

 

[Insert date] 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf & Celeste Gonzalez

 

Re: Trust Account –Tax Payment Withdrawal
Instruction

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section 1(j) of
the Investment Management Trust Agreement between Isos Acquisition Corp. (the “Company”) and Continental
Stock Transfer & Trust Company (the “Trustee”), dated as of [●], 2021 (the “Trust
Agreement”), the Company hereby requests that you deliver to the Company $[●] of the interest income earned
on the Property as of the date hereof. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust
Agreement.

 

The Company needs such funds to pay for
the tax obligations as set forth on the attached tax return or tax statement. In accordance with the terms of the Trust Agreement,
you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to
the Company’s operating account at:

 

[WIRE INSTRUCTION INFORMATION] 

 

	 	Very truly yours,
	 	 
	 	ISOS ACQUISITION CORP.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

	cc:	J.P. Morgan Securities LLC 

 

    

    

    

 

EXHIBIT D

 

[Letterhead of Company]

 

[Insert date] 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf & Celeste Gonzalez

 

Re: Trust Account – Shareholder Redemption
Withdrawal Instruction

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section 1(k) of the Investment
Management Trust Agreement between Isos Acquisition Corp. (the “Company”) and Continental Stock Transfer &
Trust Company (the “Trustee”), dated as of [●], 2021 (the “Trust Agreement”),
the Company hereby requests that you deliver to the redeeming Public Shareholders on behalf of the Company $[●] of the principal
and interest income earned on the Property as of the date hereof. Capitalized terms used but not defined herein shall have the
meanings set forth in the Trust Agreement.

 

Pursuant to Section 1(k) of the Trust
Agreement, this is to advise you that the Company has sought an Amendment. Accordingly, in accordance with the terms of the Trust
Agreement, we hereby authorize you to liquidate a sufficient portion of the Trust Account and to transfer $[●] of the proceeds
of the Trust Account to the trust operating account at J.P. Morgan Chase Bank, N.A. for distribution to the shareholders that have
requested redemption of their shares in connection with such Amendment.

 

	 	Very truly yours,
	 	 
	 	ISOS ACQUISITION CORP.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

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