Document:

Exhibit 10.1

EXECUTION VERSION

 

FORM OF SUBSCRIPTION AGREEMENT

 

This SUBSCRIPTION AGREEMENT (this “Subscription
Agreement”) is entered into on October 5, 2020, by and between Social Capital Hedosophia Holdings Corp. III, a Cayman
Islands exempted company (“IPOC”),
and the undersigned subscriber (the “Investor”).

 

WHEREAS, this Subscription Agreement is
being entered into in connection with the Agreement and Plan of Merger, dated as of the date hereof (as may be amended, supplemented
or otherwise modified from time to time, the “Transaction
Agreement”), by and among IPOC, Clover Health Investments, Corp., a Delaware corporation (the “Company”),
Asclepius Merger Sub Inc., a Delaware corporation (“IPOC
Merger Sub”), and the other parties thereto, pursuant to which, among other things, IPOC Merger Sub will merge
with and into the Company, with the Company as the surviving company in the merger and, after giving effect to such merger, becoming
a wholly owned subsidiary of IPOC, and then the Company, as such surviving company, will merge with and into IPOC, with IPOC as
the surviving company in the merger, and IPOC will change its name to “Clover Health Investments, Corp.”, on the terms
and subject to the conditions therein (such mergers, collectively, the “Transaction”);

 

WHEREAS, prior to the closing of the Transaction
(and as more fully described in the Transaction Agreement), IPOC will domesticate as a Delaware corporation in accordance with
Section 388 of the General Corporation Law of the State of Delaware and Part XII of the Cayman Islands Companies Law (2020
Revision) (the “Domestication”);

 

WHEREAS, in connection with the Transaction,
IPOC is seeking commitments from interested investors to purchase, following the Domestication and prior to the closing of the
Transaction, shares of IPOC’s Class A common stock, par value $0.001 per share, as such shares will exist as common stock
following the Domestication (the “Shares”),
in a private placement for a purchase price of $10.00 per share (the “Per Share Subscription Price”);

 

WHEREAS, the aggregate purchase price to
be paid by the Investor for the subscribed Shares (as set forth on the signature page hereto) is referred to herein as the “Subscription
Amount;”

 

WHEREAS, substantially
concurrently with the execution of this Subscription Agreement, IPOC is entering into: (a) separate subscription agreements with
certain other investors that are existing directors, officers or equityholders (including, for the avoidance of doubt, holders
of convertible securities) of IPOC, SCH Sponsor II LLC, a Cayman Islands limited liability company, the Company and/or their respective
affiliates with an aggregate purchase price of $155,000,000 (collectively, the “Insider PIPE Investors” and,
such investment, the “Insider PIPE Investment”); and (b) separate subscription agreements (collectively, the
 “Other Subscription Agreements”) with certain investors (other than the Insider PIPE Investors) with an aggregate
purchase price of $245,000,000 (inclusive of the Subscription Amount) (together with the Insider PIPE Investment, the “PIPE
Investment”).

 

NOW, THEREFORE, in consideration of the
foregoing and the mutual representations, warranties and covenants, and subject to the conditions, set forth herein, and intending
to be legally bound hereby, each of the Investor and IPOC acknowledges and agrees as follows:

 

1.                  
Subscription. The Investor hereby irrevocably subscribes for and agrees to purchase from IPOC the number of Shares
set forth on the signature page of this Subscription Agreement on the terms and subject to the conditions provided for herein.
The Investor acknowledges and agrees that, as a result of the Domestication, the Shares that will be issued pursuant hereto shall
be shares of common stock in a Delaware corporation (and not shares in a Cayman Islands exempted company).

 

    	 	 	 

     

    

 

2.                  
Closing. The closing of the sale of the Shares contemplated hereby (the “Closing”)
shall occur on the closing date (the “Closing
Date”) and be conditioned upon the prior or substantially concurrent consummation of the Transaction. Upon delivery
of written notice from (or on behalf of) IPOC to the Investor (the “Closing
Notice”), that IPOC reasonably expects all conditions to the closing of the Transaction to be satisfied or waived
on an expected closing date that is not less than five (5) business days from the date on which the Closing Notice is delivered
to the Investor, the Investor shall deliver to IPOC, three (3) business days prior to the expected closing date specified in the
Closing Notice, the Subscription Amount by wire transfer of United States dollars in immediately available funds to the account(s)
specified by IPOC in the Closing Notice. On the Closing Date, IPOC shall issue the Shares to the Investor and subsequently cause
the Shares to be registered in book entry form in the name of the Investor on IPOC’s share register. For purposes of this
Subscription Agreement, “business
day” shall mean a day, other than a Saturday, Sunday or other day on which commercial banks in New York, New York
or governmental authorities in the Cayman Islands (for so long as IPOC remains domiciled in Cayman Islands) are authorized or required
by law to close. Prior to or at the Closing, Investor shall deliver to IPOC a duly completed and executed Internal Revenue Service
Form W-9 or appropriate Form W-8. In the event the Closing Date does not occur within two (2) business days after the expected
closing date specified in the Closing Notice, IPOC shall promptly (but not later than two (2) business days thereafter) return
the Subscription Amount to the Investor by wire transfer of U.S. dollars in immediately available funds to the account specified
by the Investor, and any book-entries for the Shares shall be deemed cancelled; provided that, unless this Subscription
Agreement has been terminated pursuant to Section 8 hereof, such return of funds shall not terminate this Subscription Agreement
or relieve the Investor of its obligation to purchase the Shares at the Closing.

 

3.                  
Closing Conditions. The obligation of the parties hereto to consummate the purchase and sale of the Shares pursuant
to this Subscription Agreement is subject to the following conditions: (a) there shall not be in force any injunction or order
enjoining or prohibiting the issuance and sale of the Shares under this Subscription Agreement; (b) the terms of the Transaction
Agreement (including the conditions thereto) shall not have been amended or waived in a manner that is materially adverse to the
Investor (in its capacity as such); and (c)(i) solely with respect to the Investor’s obligation to close, the representations
and warranties made by IPOC, and (ii) solely with respect to the IPOC’s obligation to close, the representations and warranties
made by the Investor, in each case, in this Subscription Agreement shall be true and correct in all material respects as of the
Closing Date other than (x) those representations and warranties qualified by materiality, Material Adverse Effect or similar qualification,
which shall be true and correct in all respects as of the Closing Date and (y) those representations and warranties expressly made
as of an earlier date, which shall be true and correct in all material respects (or, if qualified by materiality, Material Adverse
Effect or similar qualification, all respects) as of such date, in each case without giving effect to the consummation of the Transactions.

 

4.                  
Further Assurances. At the Closing, the parties hereto shall execute and deliver such additional documents and take
such additional actions as the parties reasonably may deem to be practical and necessary in order to consummate the subscription
as contemplated by this Subscription Agreement.

 

5.                  
IPOC Representations and Warranties. IPOC represents and warrants to the Investor that:

 

(a)                
IPOC is an exempted company duly incorporated, validly existing and in good standing under the laws of the Cayman Islands
(to the extent such concept exists in such jurisdiction). IPOC has all power (corporate or otherwise) and authority to own, lease
and operate its properties and conduct its business as presently conducted and to enter into, deliver and perform its obligations
under this Subscription Agreement. As of the Closing Date, following the Domestication, IPOC will be duly incorporated, validly
existing as a corporation and in good standing under the laws of the State of Delaware.

 

(b)               
As of the Closing Date, the Shares will be duly authorized and, when issued and delivered to the Investor against full payment
therefor in accordance with the terms of this Subscription Agreement, the Shares will be validly issued, fully paid and non-assessable
and will not have been issued in violation of or subject to any preemptive or similar rights created under IPOC’s certificate
of incorporation (as in effect at such time of issuance) or under the Delaware General Corporation Law.

 

(c)                
This Subscription Agreement has been duly authorized, executed and delivered by IPOC and, assuming that this Subscription
Agreement constitutes the valid and binding agreement of the Investor, this Subscription Agreement is enforceable against IPOC
in accordance with its terms, except as may be limited or otherwise affected by (i) bankruptcy, insolvency, fraudulent conveyance,
reorganization, moratorium or other laws relating to or affecting the rights of creditors generally, or (ii) principles of
equity, whether considered at law or equity.

 

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(d)               
The issuance and sale by IPOC of the Shares pursuant to this Subscription Agreement will not conflict with or result in
a breach or violation of any of the terms or provisions of, or constitute a default under, or result in the creation or imposition
of any lien, charge or encumbrance upon any of the property or assets of IPOC or any of its subsidiaries pursuant to the terms
of (i) any indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement or instrument to which IPOC
or any of its subsidiaries is a party or by which IPOC or any of its subsidiaries is bound or to which any of the property or assets
of IPOC is subject that would reasonably be expected to have a material adverse effect on the business, financial condition or
results of operations of IPOC and its subsidiaries, taken as a whole (a “Material
Adverse Effect”), or materially affect the validity of the Shares or the legal authority of IPOC to comply in
all material respects with its obligations under this Subscription Agreement; (ii) result in any violation of the provisions
of the organizational documents of IPOC; or (iii) result in any violation of any statute or any judgment, order, rule or regulation
of any court or governmental agency or body, domestic or foreign, having jurisdiction over IPOC or any of its properties that would
reasonably be expected to have a Material Adverse Effect or materially affect the validity of the Shares or the legal authority
of IPOC to comply in all material respects with its obligations under this Subscription Agreement.

 

(e)                
As of their respective filing dates, all reports required to be filed by IPOC with the U.S. Securities and Exchange Commission
(the “SEC”) since April 24, 2020 (the “SEC Reports”) complied in all material respects with
the applicable requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the
rules and regulations of the SEC promulgated thereunder. As of the date hereof, there are no material outstanding or unresolved
comments in comment letters received by IPOC from the staff of the Division of Corporation Finance of the SEC with respect to any
of the SEC Reports.

 

(f)                 
IPOC is not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or
registration with, any court or other federal, state, local or other governmental authority, self-regulatory organization or other
person in connection with the issuance of the Shares pursuant to this Subscription Agreement, other than (i)  filings with
the SEC, (ii) filings required by applicable state securities laws, (iii) the filings required in accordance with Section 12
of this Subscription Agreement; (iv) those required by the New York Stock Exchange or Nasdaq, including with respect to obtaining
approval of IPOC’s stockholders, and (v) the failure of which to obtain would not be reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect.

 

(g)               
As of the date hereof, IPOC has not received any written communication from a governmental authority that alleges that IPOC
is not in compliance with or is in default or violation of any applicable law, except where such non-compliance, default or violation
would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

 

(h)               
Assuming the accuracy of the Investor’s representations and warranties set forth in Section 6 of this Subscription
Agreement, no registration under the Securities Act of 1933, as amended (the “Securities Act”), is required
for the offer and sale of the Shares by IPOC to the Investor.

 

(i)                 
Neither IPOC nor any person acting on its behalf has offered or sold the Shares by any form of general solicitation or general
advertising in violation of the Securities Act.

 

(j)                 
As of the date hereof, the issued and outstanding Class A ordinary shares of IPOC are registered pursuant to Section 12(b)
of the Exchange Act. Following the Domestication, the Shares are expected to be registered under the Exchange Act.

 

(k)               
IPOC is not under any obligation to pay any broker’s fee or commission in connection with the sale of the Shares other
than to the Placement Agents (as defined below).

 

(l)                 
The Other Subscription Agreements reflect the same Per Share Subscription Price and other terms with respect to the purchase
of the Shares that are no more favorable to such subscriber thereunder than the terms of this Subscription Agreement, other than
terms particular to the regulatory requirements of such subscriber or its affiliates or related funds. For the avoidance of doubt,
this Section 5(l) shall not apply to any document entered into in connection with the Insider PIPE Investment; provided,
however, that such Insider PIPE Investment shall be with respect to the same class of Class A common stock being acquired
by the Investor hereunder and at the same Per Share Subscription Price.

 

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6.                  
Investor Representations and Warranties. The Investor represents and warrants to IPOC that:

 

(a)                
The Investor (i) is a “qualified institutional buyer” (as defined in Rule 144A under the Securities
Act) or an institutional “accredited investor” (within the meaning of Rule 501(a) (1), (2), (3), (7) or (8) under
the Securities Act), in each case, satisfying the applicable requirements set forth on Schedule A, (ii) is acquiring
the Shares only for its own account and not for the account of others, or if the Investor is subscribing for the Shares as a fiduciary
or agent for one or more investor accounts, the Investor has full investment discretion with respect to each such account, and
the full power and authority to make the acknowledgements, representations and agreements herein on behalf of each owner of each
such account, and (iii) is not acquiring the Shares with a view to, or for offer or sale in connection with, any distribution
thereof in violation of the Securities Act (and shall provide the requested information set forth on Schedule A). The
Investor is not an entity formed for the specific purpose of acquiring the Shares and is an “institutional account”
as defined by FINRA Rule 4512(c).

 

(b)               
The Investor acknowledges and agrees that the Shares are being offered in a transaction not involving any public offering
within the meaning of the Securities Act, that the Shares have not been registered under the Securities Act and that IPOC is not
required to register the Shares except as set forth in Section 7 of this Subscription Agreement. The Investor acknowledges
and agrees that the Shares may not be offered, resold, transferred, pledged or otherwise disposed of by the Investor absent an
effective registration statement under the Securities Act except (i) to IPOC or a subsidiary thereof, (ii) to non-U.S.
persons pursuant to offers and sales that occur outside the United States within the meaning of Regulation S under the Securities
Act or (iii) pursuant to another applicable exemption from the registration requirements of the Securities Act, and, in each
case, in accordance with any applicable securities laws of the states of the United States and other applicable jurisdictions,
and that any certificates representing the Shares shall contain a restrictive legend to such effect. The Investor acknowledges
and agrees that the Shares will be subject to these securities law transfer restrictions and, as a result of these transfer restrictions,
the Investor may not be able to readily offer, resell, transfer, pledge or otherwise dispose of the Shares and may be required
to bear the financial risk of an investment in the Shares for an indefinite period of time. The Investor acknowledges and agrees
that the Shares will not immediately be eligible for offer, resale, transfer, pledge or disposition pursuant to Rule 144 promulgated
under the Securities Act, and that the provisions of Rule 144(i) will apply to the Shares. The Investor acknowledges and agrees
that it has been advised to consult legal, tax and accounting prior to making any offer, resale, transfer, pledge or disposition
of any of the Shares.

 

(c)                
The Investor acknowledges and agrees that the Investor is purchasing the Shares from IPOC. The Investor further acknowledges
that there have been no representations, warranties, covenants and agreements made to the Investor by or on behalf of IPOC, the
Company, any of their respective affiliates or any control persons, officers, directors, employees, agents or representatives of
any of the foregoing or any other person or entity, expressly or by implication, other than those representations, warranties,
covenants and agreements of IPOC expressly set forth in Section 5 of this Subscription Agreement.

 

(d)               
The Investor acknowledges and agrees that the Investor has received such information as the Investor deems necessary in
order to make an investment decision with respect to the Shares, including, with respect to IPOC, the Transaction and the business
of the Company and its subsidiaries. Without limiting the generality of the foregoing, the Investor acknowledges that it has reviewed
IPOC’s filings with the SEC. The Investor acknowledges and agrees that the Investor and the Investor’s professional
advisor(s), if any, have had the full opportunity to ask such questions, receive such answers and obtain such information as the
Investor and such Investor’s professional advisor(s), if any, have deemed necessary to make an investment decision with respect
to the Shares.

 

(e)                
The Investor became aware of this offering of the Shares solely by means of direct contact between the Investor and IPOC,
the Company or a representative of IPOC or the Company, and the Shares were offered to the Investor solely by direct contact between
the Investor and IPOC, the Company or a representative of IPOC or the Company. The Investor did not become aware of this offering
of the Shares, nor were the Shares offered to the Investor, by any other means. The Investor acknowledges that the Shares (i) were
not offered by any form of general solicitation or general advertising and (ii) are not being offered in a manner involving
a public offering under, or in a distribution in violation of, the Securities Act, or any state securities laws. The Investor acknowledges
that it is not relying upon, and has not relied upon, any statement, representation or warranty made by any person, firm or corporation
(including, without limitation, IPOC, the Company, the Placement Agents, any of their respective affiliates or any control persons,
officers, directors, employees, agents or representatives of any of the foregoing), other than the representations and warranties
of IPOC contained in Section 5 of this Subscription Agreement, in making its investment or decision to invest in IPOC.

 

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(f)                 
The Investor acknowledges that it is aware that there are substantial risks incident to the purchase and ownership of the
Shares, including those set forth in IPOC’s filings with the SEC. The Investor has such knowledge and experience in financial
and business matters as to be capable of evaluating the merits and risks of an investment in the Shares, and the Investor has sought
such accounting, legal and tax advice as the Investor has considered necessary to make an informed investment decision. The Investor
acknowledges that Investor shall be responsible for any of the Investor’s tax liabilities that may arise as a result of the
transactions contemplated by this Subscription Agreement, and that neither IPOC nor the Company has provided any tax advice or
any other representation or guarantee regarding the tax consequences of the transactions contemplated by the Subscription Agreement.

 

(g)               
Alone, or together with any professional advisor(s), the Investor has adequately analyzed and fully considered the risks
of an investment in the Shares and determined that the Shares are a suitable investment for the Investor and that the Investor
is able at this time and in the foreseeable future to bear the economic risk of a total loss of the Investor’s investment
in IPOC. The Investor acknowledges specifically that a possibility of total loss exists.

 

(h)               
In making its decision to purchase the Shares, the Investor has relied solely upon independent investigation made by the
Investor and the representations and warranties of IPOC in Section 5. Without limiting the generality of the foregoing,
the Investor has not relied on any statements or other information provided by or on behalf of the Placement Agents or any of their
respective affiliates or any control persons, officers, directors, employees, agents or representatives of any of the foregoing
concerning IPOC, the Company, the Transaction, the Transaction Agreement, this Subscription Agreement or the transactions contemplated
hereby or thereby, the Shares or the offer and sale of the Shares.

 

(i)                 
The Investor acknowledges and agrees that no federal or state agency has passed upon or endorsed the merits of the offering
of the Shares or made any findings or determination as to the fairness of this investment.

 

(j)                 
The Investor has been duly formed or incorporated and is validly existing and is in good standing under the laws of its
jurisdiction of formation or incorporation, with power and authority to enter into, deliver and perform its obligations under this
Subscription Agreement.

 

(k)               
The execution, delivery and performance by the Investor of this Subscription Agreement are within the powers of the Investor,
have been duly authorized and will not constitute or result in a breach or default under or conflict with any order, ruling or
regulation of any court or other tribunal or of any governmental commission or agency, or any agreement or other undertaking, to
which the Investor is a party or by which the Investor is bound, and will not violate any provisions of the Investor’s organizational
documents, including, without limitation, its incorporation or formation papers, bylaws, indenture of trust or partnership or operating
agreement, as may be applicable. The signature of the Investor on this Subscription Agreement is genuine, and the signatory has
legal competence and capacity to execute the same or the signatory has been duly authorized to execute the same, and, assuming
that this Subscription Agreement constitutes the valid and binding agreement of IPOC, this Subscription Agreement constitutes a
legal, valid and binding obligation of the Investor, enforceable against the Investor in accordance with its terms except as may
be limited or otherwise affected by (i) bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other
laws relating to or affecting the rights of creditors generally, and (ii) principles of equity, whether considered at law
or equity.

 

(l)                 
Neither the Investor nor any of its officers, directors, managers, managing members, general partners or any other person
acting in a similar capacity or carrying out a similar function, is (i) a person named on the Specially Designated Nationals
and Blocked Persons List, the Foreign Sanctions Evaders List, the Sectoral Sanctions Identification List, or any other similar
list of sanctioned persons administered by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”),
or any similar list of sanctioned persons administered by the European Union or any individual European Union member state, including
the United Kingdom (collectively, “Sanctions
Lists”); (ii) directly or indirectly owned or controlled by, or acting on behalf of, one or more persons
on a Sanctions List; (iii) organized, incorporated, established, located, resident or born in, or a citizen, national, or
the government, including any political subdivision, agency, or instrumentality thereof, of, Cuba, Iran, North Korea, Syria, Venezuela,
the Crimea region of Ukraine, or any other country or territory embargoed or subject to substantial trade restrictions by the United
States, the European Union or any individual European Union member state, including the United Kingdom; (iv) a Designated
National as defined in the Cuban Assets Control Regulations, 31 C.F.R. Part 515; or (v) a non-U.S. shell bank or providing
banking services indirectly to a non-U.S. shell bank (collectively, a “Prohibited
Investor”). The Investor represents that if it is a financial institution subject to the Bank Secrecy Act (31
U.S.C. Section 5311 et seq.) (the “BSA”),
as amended by the USA PATRIOT Act of 2001 (the “PATRIOT
Act”), and its implementing regulations (collectively, the “BSA/PATRIOT
Act”), that the Investor maintains policies and procedures reasonably designed to comply with applicable obligations
under the BSA/PATRIOT Act. The Investor also represents that it maintains policies and procedures reasonably designed to ensure
compliance with sanctions administered by the United States, the European Union, or any individual European Union member state,
including the United Kingdom, to the extent applicable to it. The Investor further represents that the funds held by the Investor
and used to purchase the Shares were legally derived and were not obtained, directly or indirectly, from a Prohibited Investor.

 

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(m)              
If the Investor is or is acting on behalf of (i) an employee benefit plan that is subject to Title I of the Employee
Retirement Income Security Act of 1974, as amended (“ERISA”),
(ii) a plan, an individual retirement account or other arrangement that is subject to Section 4975 of the Internal Revenue
Code of 1986, as amended (the “Code”),
(iii) an entity whose underlying assets are considered to include “plan assets” of any such plan, account or arrangement
described in clauses (i) and (ii) (each, an “ERISA
Plan”), or (iv) an employee benefit plan that is a governmental plan (as defined in Section 3(32) of
ERISA), a church plan (as defined in Section 3(33) of ERISA), a non-U.S. plan (as described in Section 4(b)(4) of ERISA)
or other plan that is not subject to the foregoing clauses (i), (ii) or (iii) but may be subject to provisions under any other
federal, state, local, non-U.S. or other laws or regulations that are similar to such provisions of ERISA or the Code (collectively,
 “Similar Laws,”
and together with ERISA Plans, “Plans”),
the Investor represents and warrants that (A) neither IPOC nor any of its affiliates has provided investment advice or has
otherwise acted as the Plan’s fiduciary, with respect to its decision to acquire and hold the Shares, and none of the parties
to the Transaction is or shall at any time be the Plan’s fiduciary with respect to any decision in connection with the Investor’s
investment in the Shares; and (B) its purchase of the Shares will not result in a non-exempt prohibited transaction under
Section 406 of ERISA or Section 4975 of the Code, or any applicable Similar Law.

 

(n)               
No disclosure or offering document has been prepared by Credit Suisse Securities (USA) LLC and Citigroup Global Markets
Inc. (collectively, the “Placement
Agents”) or any of their respective affiliates in connection with the offer and sale of the Shares.

 

(o)               
None of the Placement Agents, nor any of their respective affiliates, nor any control persons, officers, directors, employees,
agents or representatives of any of the foregoing has made any independent investigation with respect to IPOC, the Company or its
subsidiaries or any of their respective businesses, or the Shares or the accuracy, completeness or adequacy of any information
supplied to the Investor by IPOC.

 

(p)               
In connection with the issue and purchase of the Shares, none of the Placement Agents, nor any of their respective affiliates,
has acted as the Investor’s financial advisor or fiduciary.

 

(q)               
The Investor has or has commitments to have and, when required to deliver payment to IPOC pursuant to Section 2
above, will have, sufficient funds to pay the Subscription Amount and consummate the purchase and sale of the Shares pursuant to
this Subscription Agreement.

 

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7.                  
Registration Rights.

 

(a)                
IPOC agrees that, within forty-five (45) calendar days following the Closing Date (such deadline, the “Filing Deadline”),
IPOC will submit to or file with the SEC a registration statement for a shelf registration on Form S-1 or Form S-3 (if IPOC is
then eligible to use a Form S-3 shelf registration) (the “Registration
Statement”), in each case, covering the resale of the Shares acquired by the Investor pursuant to this Agreement
which are eligible for registration (determined as of two business days prior to such submission or filing) (the “Registrable
Shares”) and IPOC shall use its commercially reasonable efforts to have the Registration Statement declared effective
as soon as practicable after the filing thereof, but no later than the earlier of (i) the 90th calendar day following the
filing date thereof if the SEC notifies IPOC that it will “review” the Registration Statement and (ii) the 10th
business day after the date IPOC is notified (orally or in writing, whichever is earlier) by the SEC that the Registration Statement
will not be “reviewed” or will not be subject to further review (such earlier date, the “Effectiveness
Deadline”); provided, however, that IPOC’s obligations to include the Registrable Shares
in the Registration Statement are contingent upon Investor furnishing in writing to IPOC such information regarding Investor or
its permitted assigns, the securities of IPOC held by Investor and the intended method of disposition of the Registrable Shares
(which shall be limited to non-underwritten public offerings) as shall be reasonably requested by IPOC to effect the registration
of the Registrable Shares, and Investor shall execute such documents in connection with such registration as IPOC may reasonably
request that are customary of a selling stockholder in similar situations, including providing that IPOC shall be entitled to postpone
and suspend the effectiveness or use of the Registration Statement, if applicable, during any customary blackout or similar period
or as permitted hereunder; provided that Investor shall not in connection with the foregoing be required to execute any
lock-up or similar agreement or otherwise be subject to any contractual restriction on the ability to transfer the Registrable
Shares. For as long as the Investor holds Shares, IPOC will use commercially reasonable efforts to file all reports for so long
as the condition in Rule 144(c)(1) (or Rule 144(i)(2), if applicable) is required to be satisfied, and provide all customary and
reasonable cooperation, necessary to enable the undersigned to resell the Shares pursuant to Rule 144 of the Securities Act (in
each case, when Rule 144 of the Securities Act becomes available to the Investor). Any failure by IPOC to file the Registration
Statement by the Filing Deadline or to effect such Registration Statement by the Effectiveness Deadline shall not otherwise relieve
IPOC of its obligations to file or effect the Registration Statement as set forth above in this Section 7.

 

(b)               
At its expense IPOC shall:

 

(i)                 
except for such times as IPOC is permitted hereunder to suspend the use of the prospectus forming part of a Registration
Statement, use its commercially reasonable efforts to keep such registration, and any qualification, exemption or compliance under
state securities laws which IPOC determines to obtain, continuously effective with respect to Investor, and to keep the applicable
Registration Statement or any subsequent shelf registration statement free of any material misstatements or omissions, until the
earlier of the following: (A) Investor ceases to hold any Registrable Shares, (B) the date all Registrable Shares held
by Investor may be sold without restriction under Rule 144, including without limitation, any volume and manner of sale restrictions
which may be applicable to affiliates under Rule 144 and without the requirement for IPOC to be in compliance with the current
public information required under Rule 144(c)(1) (or Rule 144(i)(2), if applicable), and (C) two (2) years from the date of
effectiveness of the Registration Statement;

 

(ii)               
advise Investor, as expeditiously as possible:

 

(1)               
 when a Registration Statement or any amendment thereto has been filed with the SEC;

 

(2)               
  after it shall receive notice or obtain knowledge thereof, of the issuance by the SEC of any stop order suspending
the effectiveness of any Registration Statement or the initiation of any proceedings for such purpose;

 

(3)               
 of the receipt by IPOC of any notification with respect to the suspension of the qualification of the Registrable
Shares included therein for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and

 

(4)               
 subject to the provisions in this Subscription Agreement, of the occurrence of any event that requires the making
of any changes in any Registration Statement or prospectus so that, as of such date, the statements therein are not misleading
and do not omit to state a material fact required to be stated therein or necessary to make the statements therein (in the case
of a prospectus, in the light of the circumstances under which they were made) not misleading.

 

    	 	7	 

     

    

 

Notwithstanding anything to the contrary set forth herein, IPOC
shall not, when so advising Investor of such events, provide Investor with any material, nonpublic information regarding IPOC other
than to the extent that providing notice to Investor of the occurrence of the events listed in (1) through (4) above constitutes
material, nonpublic information regarding IPOC;

 

(iii)             
use its commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of any Registration
Statement as soon as reasonably practicable;

 

(iv)              
 upon the occurrence of any event contemplated in Section 7(b)(ii)(4) above, except for such times as IPOC is
permitted hereunder to suspend, and has suspended, the use of a prospectus forming part of a Registration Statement, IPOC shall
use its commercially reasonable efforts to as soon as reasonably practicable prepare a post-effective amendment to such Registration
Statement or a supplement to the related prospectus, or file any other required document so that, as thereafter delivered to purchasers
of the Registrable Shares included therein, such prospectus will not include any untrue statement of a material fact or omit to
state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made,
not misleading;

 

(v)               
use its commercially reasonable efforts to cause all Registrable Shares to be listed on each securities exchange or market,
if any, on which the shares of Class A common stock issued by IPOC have been listed;

 

(vi)              
use its commercially reasonable efforts to allow the Investor to review disclosure regarding the Investor in the Registration
Statement; and

 

(vii)            
otherwise, in good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by the
Investor, consistent with the terms of this Agreement, in connection with the registration of the Registrable Shares.

 

(c)                
Notwithstanding anything to the contrary in this Subscription Agreement, IPOC shall be entitled to delay the filing or effectiveness
of, or suspend the use of, the Registration Statement if it determines that in order for the Registration Statement not to contain
a material misstatement or omission, (i) an amendment thereto would be needed to include information that would at that time not
otherwise be required in a current, quarterly, or annual report under the Exchange Act, (ii) the negotiation or consummation of
a transaction by IPOC or its subsidiaries is pending or an event has occurred, which negotiation, consummation or event IPOC’s
board of directors reasonably believes would require additional disclosure by IPOC in the Registration Statement of material information
that IPOC has a bona fide business purpose for keeping confidential and the non-disclosure of which in the Registration Statement
would be expected, in the reasonable determination of IPOC’s board of directors to cause the Registration Statement to fail
to comply with applicable disclosure requirements, or (iii) in the good faith judgment of the majority of IPOC’s board of
directors, such filing or effectiveness or use of such Registration Statement, would be seriously detrimental to IPOC and the majority
of the IPOC board or directors concludes as a result that it is essential to defer such filing (each such circumstance, a “Suspension
Event”); provided, however, that IPOC may not delay or suspend the Registration Statement on more
than three occasions or for more than ninety (90) consecutive calendar days, or more than one hundred and twenty (120) total
calendar days in each case during any twelve-month period. Upon receipt of any written notice from IPOC of the happening of any
Suspension Event during the period that the Registration Statement is effective or if as a result of a Suspension Event the Registration
Statement or related prospectus contains any untrue statement of a material fact or omits to state any material fact required to
be stated therein or necessary to make the statements therein (in light of the circumstances under which they were made, in the
case of the prospectus) not misleading, Investor agrees that (i) it will immediately discontinue offers and sales of the Registrable
Shares under the Registration Statement (excluding, for the avoidance of doubt, sales conducted pursuant to Rule 144) until Investor
receives copies of a supplemental or amended prospectus (which IPOC agrees to promptly prepare) that corrects the misstatement(s)
or omission(s) referred to above and receives notice that any post-effective amendment has become effective or unless otherwise
notified by IPOC that it may resume such offers and sales, and (ii) it will maintain the confidentiality of any information
included in such written notice delivered by IPOC unless otherwise required by law or subpoena. If so directed by IPOC, Investor
will deliver to IPOC or, in Investor’s sole discretion destroy, all copies of the prospectus covering the Registrable Shares
in Investor’s possession; provided, however, that this obligation to deliver or destroy all copies of the prospectus
covering the Registrable Shares shall not apply (A) to the extent Investor is required to retain a copy of such prospectus
(1) in order to comply with applicable legal, regulatory, self-regulatory or professional requirements or (2) in accordance
with a bona fide pre-existing document retention policy or (B) to copies stored electronically on archival servers as a result
of automatic data back-up.

 

    	 	8	 

     

    

 

(d)               
Indemnification.

 

(i)                 
 IPOC agrees to indemnify, to the extent permitted by law, Investor (to the extent a seller under the Registration
Statement), its directors, officers, partners, managers, members, stockholders and each person who controls Investor (within the
meaning of the Securities Act), to the extent permitted by law, against all losses, claims, damages, liabilities and reasonable
and documented out of pocket expenses (including reasonable and documented attorneys’ fees of one law firm (and one firm
of local counsel)) caused by any untrue or alleged untrue statement of material fact contained in any Registration Statement, prospectus
included in any Registration Statement (“Prospectus”)
or preliminary Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact
required to be stated therein or necessary to make the statements therein (in the case of a Prospectus, in the light of the circumstances
under which they were made) not misleading, except insofar as the same are caused by or contained in any information or affidavit
so furnished in writing to IPOC by or on behalf of such Investor expressly for use therein.

 

(ii)               
In connection with any Registration Statement in which an Investor is participating, such Investor shall furnish (or cause
to be furnished) to IPOC in writing such information and affidavits as IPOC reasonably requests for use in connection with any
such Registration Statement or Prospectus and, to the extent permitted by law, shall indemnify IPOC, its directors and officers
and each person or entity who controls IPOC (within the meaning of the Securities Act) against any losses, claims, damages, liabilities
and expenses (including, without limitation, reasonable outside attorneys’ fees) resulting from any untrue or alleged untrue
statement of material fact contained or incorporated by reference in any Registration Statement, Prospectus or preliminary Prospectus
or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein
or necessary to make the statements therein (in the case of a Prospectus, in the light of the circumstances under which they were
made) not misleading, but only to the extent that such untrue statement or omission is contained (or not contained in, in the case
of an omission) in any information or affidavit so furnished in writing by on behalf of such Investor expressly for use therein;
provided, however, that the liability of such Investor shall be several and not joint with any other investor and
shall be in proportion to and limited to the net proceeds received by such Investor from the sale of Registrable Shares giving
rise to such indemnification obligation.

 

(iii)             
Any person or entity entitled to indemnification herein shall (A) give prompt written notice to the indemnifying party of
any claim with respect to which it seeks indemnification (provided that the failure to give prompt notice shall not impair
any person’s or entity’s right to indemnification hereunder to the extent such failure has not prejudiced the indemnifying
party) and (B) unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and
indemnifying parties may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim with
counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall not be subject
to any liability for any settlement made by the indemnified party without its consent (but such consent shall not be unreasonably
withheld). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated
to pay the fees and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect to such
claim, unless in the reasonable judgment of any indemnified party a conflict of interest may exist between such indemnified party
and any other of such indemnified parties with respect to such claim. No indemnifying party shall, without the consent of the indemnified
party, consent to the entry of any judgment or enter into any settlement which cannot be settled in all respects by the payment
of money (and such money is so paid by the indemnifying party pursuant to the terms of such settlement) or which settlement includes
a statement or admission of fault and culpability on the part of such indemnified party or which does not include as an unconditional
term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such
claim or litigation. 

 

    	 	9	 

     

    

 

(iv)              
The indemnification provided for under this Subscription Agreement shall remain in full force and effect regardless of any
investigation made by or on behalf of the indemnified party or any officer, director or controlling person or entity of such indemnified
party and shall survive the transfer of securities. 

 

(v)               
If the indemnification provided under this Section 7(d) from the indemnifying party is unavailable or insufficient
to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities and expenses referred to herein, then
the indemnifying party, in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by the indemnified
party as a result of such losses, claims, damages, liabilities and expenses in such proportion as is appropriate to reflect the
relative fault of the indemnifying party and the indemnified party, as well as any other relevant equitable considerations; provided,
however, that the liability of the Investor shall be limited to the net proceeds received by such Investor from the sale
of Registrable Shares giving rise to such indemnification obligation. The relative fault of the indemnifying party and indemnified
party shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged
untrue statement of a material fact or omission or alleged omission to state a material fact, was made by (or not made by, in the
case of an omission), or relates to information supplied by (or not supplied by, in the case of an omission), such indemnifying
party or indemnified party, and the indemnifying party’s and indemnified party’s relative intent, knowledge, access
to information and opportunity to correct or prevent such action. The amount paid or payable by a party as a result of the losses
or other liabilities referred to above shall be deemed to include, subject to the limitations set forth in Sections 7(d)(i),
(ii) and (iii) above, any legal or other fees, charges or expenses reasonably incurred by such party in connection with any investigation
or proceeding. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall
be entitled to contribution pursuant to this Section 7(d)(v) from any person or entity who was not guilty of such fraudulent
misrepresentation.

 

8.                  
Termination. This Subscription Agreement shall terminate and be void and of no further force and effect, and all
rights and obligations of the parties hereunder shall terminate without any further liability on the part of any party in respect
thereof, upon the earliest to occur of (a) such date and time as the Transaction Agreement is terminated in accordance with
its terms, (b) upon the mutual written agreement of each of the parties hereto to terminate this Subscription Agreement, (c) if
the conditions to Closing set forth in Section 3 of this Subscription Agreement are not satisfied, or are not capable of
being satisfied, on or prior to the Closing and, as a result thereof, the transactions contemplated by this Subscription Agreement
will not be or are not consummated at the Closing and (d) February 10, 2021; provided that nothing herein will relieve any
party from liability for any willful breach hereof prior to the time of termination, and each party will be entitled to any remedies
at law or in equity to recover losses, liabilities or damages arising from any such willful breach. IPOC shall notify the Investor
of the termination of the Transaction Agreement promptly after the termination of such agreement. Upon the termination of this
Subscription Agreement in accordance with this Section 8, any monies paid by the Investor to IPOC in connection herewith
shall be promptly (and in any event within one business day after such termination) returned to the Investor.

 

9.                  
Trust Account Waiver. The Investor acknowledges that IPOC is a blank check company with the powers and privileges
to effect a merger, asset acquisition, reorganization or similar business combination involving IPOC and one or more businesses
or assets. The Investor further acknowledges that, as described in IPOC’s prospectus relating to its initial public offering
dated April 21, 2020 (the “IPO Prospectus”)
available at www.sec.gov, substantially all of IPOC’s assets consist of the cash proceeds of IPOC’s initial public
offering and private placement of its securities, and substantially all of those proceeds have been deposited in a trust account
(the “Trust Account”)
for the benefit of IPOC, its public shareholders and the underwriter of IPOC’s initial public offering. Except with respect
to interest earned on the funds held in the Trust Account that may be released to IPOC to pay its tax obligations, if any, the
cash in the Trust Account may be disbursed only for the purposes set forth in the IPO Prospectus. For and in consideration of IPOC
entering into this Subscription Agreement, the receipt and sufficiency of which are hereby acknowledged, the Investor hereby irrevocably
waives any and all right, title and interest, or any claim of any kind it has or may have in the future, in or to any monies held
in the Trust Account, and agrees not to seek recourse against the Trust Account as a result of, or arising out of, this Subscription
Agreement; provided, that nothing in this Section 9 shall be deemed to limit the Investor’s right, title, interest
or claim to the Trust Account by virtue of the Investor’s record or beneficial ownership of Shares of IPOC acquired by any
means other than pursuant to this Subscription Agreement.

 

    	 	10	 

     

    

 

10.               
Miscellaneous.

 

(a)                
Neither this Subscription Agreement nor any rights that may accrue to the Investor hereunder (other than the Shares acquired
hereunder, if any) may be transferred or assigned, other than an assignment to any fund or account managed by the same investment
manager as the Investor or an affiliate thereof, subject to, if such transfer or assignment is prior to the Closing, such transferee
or assignee, as applicable, executing a joinder to this Subscription Agreement or a separate subscription agreement in substantially
the same form as this Subscription Agreement, including with respect to the Subscription Amount and other terms and conditions,
provided, that, in the case of any such transfer or assignment, the initial party to this Subscription Agreement shall remain bound
by its obligations under this Subscription Agreement in the event that the transferee or assignee, as applicable, does not comply
with its obligations to consummate the purchase of Shares contemplated hereby. Neither this Subscription Agreement nor any rights
that may accrue to IPOC hereunder or any of IPOC’s obligations may be transferred or assigned other than pursuant to the
Transaction.

 

(b)               
IPOC may request from the Investor such additional information as IPOC may deem necessary to evaluate the eligibility of
the Investor to acquire the Shares and in connection with the inclusion of the Shares in the Registration Statement, and the Investor
shall provide such information as may reasonably be requested, to the extent readily available and to the extent consistent with
its internal policies and procedures. The Investor acknowledges that IPOC may file a copy of this Subscription Agreement with the
SEC as an exhibit to a current or periodic report or a registration statement of IPOC.

 

(c)                
The Investor acknowledges that IPOC and the Placement Agents (as third party beneficiaries with the right to enforce Section
4, Section 5, Section 6, Section 10, and Section 11 hereof on their own behalf and not, for the
avoidance of doubt, on behalf of IPOC) will rely on the acknowledgments, understandings, agreements, representations and warranties
of the Investor contained in this Subscription Agreement. Prior to the Closing, the Investor agrees to promptly notify IPOC and
the Placement Agents if any of the acknowledgments, understandings, agreements, representations and warranties of the Investor
set forth herein are no longer accurate.

 

(d)               
IPOC, the Placement Agents and the Investor are each entitled to rely upon this Subscription Agreement and each is irrevocably
authorized to produce this Subscription Agreement or a copy hereof to any interested party in any administrative or legal proceeding
or official inquiry with respect to the matters covered hereby.

 

(e)                
All of the representations and warranties contained in this Subscription Agreement shall survive the Closing. All of the
covenants and agreements made by each party hereto in this Subscription Agreement shall survive the Closing until the applicable
statute of limitations or in accordance with their respective terms, if a shorter period.

 

(f)                 
This Subscription Agreement may not be modified, waived or terminated (other than pursuant to the terms of Section 8
above) except by an instrument in writing, signed by each of the parties hereto. No failure or delay of either party in exercising
any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or
power, or any abandonment or discontinuance of steps to enforce such right or power, or any course of conduct, preclude any other
or further exercise thereof or the exercise of any other right or power. The rights and remedies of the parties and third party
beneficiaries hereunder are cumulative and are not exclusive of any rights or remedies that they would otherwise have hereunder.

 

    	 	11	 

     

    

 

(g)               
This Subscription Agreement (including the schedule hereto) constitutes the entire agreement, and supersedes all other prior
agreements, understandings, representations and warranties, both written and oral, among the parties, with respect to the subject
matter hereof. Except as set forth in Section 10(c) with respect to the persons referenced therein, this Subscription
Agreement shall not confer any rights or remedies upon any person other than the parties hereto, and their respective successor
and assigns.

 

(h)               
Except as otherwise provided herein, this Subscription Agreement shall be binding upon, and inure to the benefit of the
parties hereto and their heirs, executors, administrators, successors, legal representatives, and permitted assigns, and the agreements,
representations, warranties, covenants and acknowledgments contained herein shall be deemed to be made by, and be binding upon,
such heirs, executors, administrators, successors, legal representatives and permitted assigns.

 

(i)                 
If any provision of this Subscription Agreement shall be adjudicated by a court of competent jurisdiction to be invalid,
illegal or unenforceable, the validity, legality or enforceability of the remaining provisions of this Subscription Agreement shall
not in any way be affected or impaired thereby and shall continue in full force and effect.

 

(j)                 
This Subscription Agreement may be executed in one or more counterparts (including by electronic mail or in .pdf) and by
different parties in separate counterparts, with the same effect as if all parties hereto had signed the same document. All counterparts
so executed and delivered shall be construed together and shall constitute one and the same agreement.

 

(k)               
The parties hereto acknowledge and agree that irreparable damage would occur in the event that any of the provisions of
this Subscription Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly
agreed that the parties shall be entitled to an injunction or injunctions to prevent breaches of this Subscription Agreement, without
posting a bond or undertaking and without proof of damages, to enforce specifically the terms and provisions of this Subscription
Agreement, this being in addition to any other remedy to which such party is entitled at law, in equity, in contract, in tort or
otherwise.

 

(l)                 
THE PARTIES HERETO IRREVOCABLY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE COURT OF CHANCERY OF THE STATE OF DELAWARE (OR,
TO THE EXTENT SUCH COURT DOES NOT HAVE SUBJECT MATTER JURISDICTION, THE SUPERIOR COURT OF THE STATE OF DELAWARE, OR THE UNITED
STATES DISTRICT COURT FOR THE DISTRICT OF DELAWARE) SOLELY IN RESPECT OF THE INTERPRETATION AND ENFORCEMENT OF THE PROVISIONS OF
THIS SUBSCRIPTION AGREEMENT AND THE DOCUMENTS REFERRED TO IN THIS SUBSCRIPTION AGREEMENT AND IN RESPECT OF THE TRANSACTIONS CONTEMPLATED
HEREBY, AND HEREBY WAIVE, AND AGREE NOT TO ASSERT, AS A DEFENSE IN ANY ACTION, SUIT OR PROCEEDING FOR INTERPRETATION OR ENFORCEMENT
HEREOF OR ANY SUCH DOCUMENT THAT IS NOT SUBJECT THERETO OR THAT SUCH ACTION, SUIT OR PROCEEDING MAY NOT BE BROUGHT OR IS NOT MAINTAINABLE
IN SAID COURTS OR THAT VENUE THEREOF MAY NOT BE APPROPRIATE OR THAT THIS SUBSCRIPTION AGREEMENT OR ANY SUCH DOCUMENT MAY NOT BE
ENFORCED IN OR BY SUCH COURTS, AND THE PARTIES HERETO IRREVOCABLY AGREE THAT ALL CLAIMS WITH RESPECT TO SUCH ACTION, SUIT OR PROCEEDING
SHALL BE HEARD AND DETERMINED BY SUCH A DELAWARE STATE OR FEDERAL COURT. THE PARTIES HEREBY CONSENT TO AND GRANT ANY SUCH COURT
JURISDICTION OVER THE PERSON OF SUCH PARTIES AND OVER THE SUBJECT MATTER OF SUCH DISPUTE AND AGREE THAT MAILING OF PROCESS OR OTHER
PAPERS IN CONNECTION WITH SUCH ACTION, SUIT OR PROCEEDING IN THE MANNER PROVIDED IN THIS SECTION 10(l) OF THIS SUBSCRIPTION
AGREEMENT OR IN SUCH OTHER MANNER AS MAY BE PERMITTED BY LAW SHALL BE VALID AND SUFFICIENT SERVICE THEREOF. THIS SUBSCRIPTION AGREEMENT
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF DELAWARE, WITHOUT REGARD TO THE PRINCIPLES OF
CONFLICTS OF LAWS THAT WOULD OTHERWISE REQUIRED THE APPLICATION OF THE LAW OF ANY OTHER STATE.

 

    	 	12	 

     

    

 

(m)              
EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND
UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING
OUT OF OR RELATING TO THIS SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS SUBSCRIPTION AGREEMENT. EACH PARTY CERTIFIES
AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE,
THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER; (II) SUCH PARTY UNDERSTANDS
AND HAS CONSIDERED THE IMPLICATIONS OF THE FOREGOING WAIVER; (III) SUCH PARTY MAKES THE FOREGOING WAIVER VOLUNTARILY; AND
(IV) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS SUBSCRIPTION AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVER AND CERTIFICATIONS
IN THIS SECTION 10(m).

 

11.               
Non-Reliance and Exculpation. The Investor acknowledges that it is not relying upon, and has not relied upon, any
statement, representation or warranty made by any person, firm or corporation (including, without limitation, the Placement Agents,
any of their respective affiliates or any control persons, officers, directors, employees, partners, agents or representatives
of any of the foregoing), other than the statements, representations and warranties of IPOC expressly contained in Section 5
of this Subscription Agreement, in making its investment or decision to invest in IPOC. The Investor acknowledges and agrees that
none of (i) any other investor pursuant to this Subscription Agreement or any other subscription agreement related to the
private placement of the Shares (including the investor’s respective affiliates or any control persons, officers, directors,
employees, partners, agents or representatives of any of the foregoing), (ii) the Placement Agents, their respective affiliates
or any control persons, officers, directors, employees, partners, agents or representatives of any of the foregoing, (iii) any
other party to the Transaction Agreement (other than IPOC), or (iv) any affiliates, or any control persons, officers, directors,
employees, partners, agents or representatives of any of IPOC, the Company or any other party to the Transaction Agreement shall
be liable to the Investor, or to any other investor, pursuant to this Subscription Agreement or any other subscription agreement
related to the private placement of the Shares, the negotiation hereof or thereof or the subject matter hereof or thereof, or the
transactions contemplated hereby or thereby, for any action heretofore or hereafter taken or omitted to be taken by any of them
in connection with the purchase of the Shares.

 

12.               
Press Releases. IPOC shall, by 9:00 a.m., New York City time, on the first business day immediately following the
date of this Subscription Agreement, issue one or more press releases or furnish or file with the SEC a Current Report on Form
8-K (collectively, the “Disclosure Document”) disclosing, to the extent not previously publicly disclosed, the
PIPE Investment, all material terms of the Transaction and any other material, non-public information that IPOC has provided to
the Investor at any time prior to the filing of the Disclosure Document. From and after the disclosure of the Disclosure Document,
to the knowledge of IPOC, the Investors shall not be in possession of any material, non-public information received from IPOC or
any of its officers, directors or employees. All press releases or other public communications relating to the transactions contemplated
hereby between IPOC and the Investor, and the method of the release for publication thereof, shall be subject to the prior approval
of (i) IPOC, and (ii) to the extent such press release or public communication references the Investor or its affiliates or investment
advisers by name, the Investor; provided, that neither IPOC nor the Investor shall be required to obtain consent pursuant
to this Section 12 to the extent any proposed release or statement is substantially equivalent to the information that
has previously been made public without breach of the obligation under this Section 12. The restriction in this Section 12
shall not apply to the extent the public announcement is required by applicable securities law, any governmental authority or stock
exchange rule; provided, that in such an event, the applicable party shall use its commercially reasonable efforts to consult
with the other party in advance as to its form, content and timing.

 

13.               
Notices. All notices and other communications among the parties shall be in writing and shall be deemed to have been
duly given (i) when delivered in person, (ii) when delivered after posting in the United States mail having been sent registered
or certified mail return receipt requested, postage prepaid, (iii) when delivered by FedEx or other nationally recognized overnight
delivery service, or (iv) when delivered by email (in each case in this clause (iv), solely if receipt is confirmed, but excluding
any automated reply, such as an out-of-office notification), addressed as follows:

 

    	 	13	 

     

    

 

If to the Investor, to the address provided on the Investor’s
signature page hereto.

 

If to IPOC, to:

Social Capital Hedosophia Holdings Corp. III

317 University Avenue

Palo Alto, California 94301

		Attention:	Steve Trieu

		Email:	steve@socialcapital.com

 

with copies to (which shall not constitute notice),
to:

 

Skadden, Arps, Slate, Meagher & Flom LLP

One Manhattan West

New York, New York 10001

		Attention:	Howard L. Ellin

Christopher M. Barlow

P. Michelle Gasaway

		Email:	howard.ellin@skadden.com

christopher.barlow@skadden.com

michelle.gasaway@skadden.com

 

and

 

Clover Health Investments, Corp.

725 Cool Springs Blvd, Suite 320

Franklin, Tennessee 37067

(201) 432-2133

		Attention:	Wendy Joo

		Email:	wendy.joo@cloverhealth.com

 

and

 

Orrick, Herrington & Sutcliffe LLP

1000 Marsh Road

Menlo Park, California 94025-1015

		Attention:	Matthew Gemello

Stephen Thau

Justin Yi

		Email:	mgemello@orrick.com

sthau@orrick.com

justin.yi@orrick.com

 

or to such
other address or addresses as the parties may from time to time designate in writing. Copies delivered solely to outside counsel
shall not constitute notice.

 

[SIGNATURE PAGES FOLLOW]

 

    	 	14	 

     

    

 

IN WITNESS WHEREOF, the Investor
has executed or caused this Subscription Agreement to be executed by its duly authorized representative as of the date set forth
below.

 

	Name of Investor:	State/Country of Formation or Domicile:
	By:  _____________________________________	 
	Name:  ___________________________________	 
	Title:  ___________________________________	 
	Name in which Shares are to be registered (if different):	Date: ________, 2020
	Investor’s EIN:	 
	Business Address-Street:	Mailing Address-Street (if different):
	City, State, Zip:	City, State, Zip:
	Attn:  ____________________________________	Attn:  ____________________________________
	Telephone No.:	Telephone No.:
	Facsimile No.:	Facsimile No.:
	Number of Shares subscribed for:	 
	Aggregate Subscription Amount: $	Price Per Share: $10.00

 

You must pay the Subscription Amount by
wire transfer of United States dollars in immediately available funds to the account specified by IPOC in the Closing Notice.

 

 

[Signature Page to Subscription Agreement]

 

     

     

    

 

IN WITNESS WHEREOF, IPOC has accepted this
Subscription Agreement as of the date set forth below.

 

	 	SOCIAL CAPITAL HEDOSOPHIA HOLDINGS CORP. III
	 	 	 
	 	By:	                      
	 	 	Name:
	 	 	Title:

 

Date:                         ,
2020

 

 

[Signature Page to Subscription Agreement]

 

     

     

    

 

SCHEDULE A

 

ELIGIBILITY REPRESENTATIONS OF THE
INVESTOR

 

		A.	QUALIFIED INSTITUTIONAL BUYER STATUS

(Please check the applicable subparagraphs):

 

		 ̈	We are a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act).

 

		B.	INSTITUTIONAL ACCREDITED INVESTOR STATUS

(Please check the applicable subparagraphs):

 

		1.	 ̈ We are an “accredited investor” (within the meaning of
                                                           Rule 501(a) under the Securities Act) or an entity in which all of the equity holders are accredited investors within
                                                           the meaning of Rule 501(a) under the Securities Act, and have marked and initialed the appropriate box on the following
                                                           page indicating the provision under which we qualify as an “accredited investor.”

 

		2.	 ̈ We are not a natural person.

 

Rule 501(a), in relevant part, states that an “accredited
investor” shall mean any person who comes within any of the below listed categories, or who the issuer reasonably believes
comes within any of the below listed categories, at the time of the sale of the securities to that person. The Investor has indicated,
by marking and initialing the appropriate box below, the provision(s) below which apply to the Investor and under which the Investor
accordingly qualifies as an “accredited investor.”

 

		 ̈	Any bank, registered broker or dealer, insurance company, registered investment company, business development company, or small
business investment company;

 

		 ̈	Any plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or
its political subdivisions for the benefit of its employees, if such plan has total assets in excess of $5,000,000;

 

		 ̈	Any employee benefit plan, within the meaning of the Employee Retirement Income Security Act of 1974, if a bank, insurance
company, or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5,000,000;

 

		 ̈	Any organization described in Section 501(c)(3) of the Internal Revenue Code, corporation, similar business trust, or
partnership, not formed for the specific purpose of acquiring the securities offered, with total assets in excess of $5,000,000;

 

		 ̈	Any trust with assets in excess of $5,000,000, not formed to acquire the securities offered, whose purchase is directed by
a sophisticated person; or

 

		 ̈	Any entity in which all of the equity owners are accredited investors meeting one or more of the above tests.

 

This page should be completed by
the Investor

and constitutes a part of the Subscription Agreement.

 

 

[Schedule A to Subscription Agreement]Exhibit 10.2

CONFIDENTIAL

 

SPONSOR SUPPORT AGREEMENT

 

This Sponsor Support
Agreement (this “Sponsor Agreement”) is dated as of October 5, 2020, by and among SCH Sponsor III LLC, a Cayman
Islands limited liability company (the “Sponsor Holdco”), the Persons set forth on Schedule I attached
hereto (together with the Sponsor Holdco, each, a “Sponsor” and, together, the “Sponsors”),
Social Capital Hedosophia Holdings Corp. III, a Cayman Islands exempted company limited by shares (which shall domesticate as a
Delaware corporation prior to the Closing (as defined in the Merger Agreement (as defined below))) (“Acquiror”),
and Clover Health Investments, Corp., a Delaware corporation ( the “Company”). Capitalized terms used but not
defined herein shall have the respective meanings ascribed to such terms in the Merger Agreement (as defined below).

 

RECITALS

 

WHEREAS, as of the date
hereof, the Sponsors collectively are the holders of record and the “beneficial owners” (within the meaning of Rule
13d-3 under the Exchange Act) of 20,700,000 Acquiror Common Shares and 10,933,333 Acquiror Warrants in the aggregate as set forth
on Schedule I attached hereto;

 

WHEREAS, contemporaneously
with the execution and delivery of this Sponsor Agreement, Acquiror, Asclepius Merger Sub Inc., a Delaware corporation and a direct
wholly owned subsidiary of Acquiror (“Merger Sub”), and the Company, have entered into an Agreement and Plan
of Merger (as amended or modified from time to time, the “Merger Agreement”), dated as of the date hereof, pursuant
to which, among other transactions, (i) Merger Sub is to merge with and into the Company, with the Company continuing on as the
surviving entity, and (ii) the Company is to merge with and into Acquiror, with Acquiror continuing on as the surviving entity,
in each case, on the terms and conditions set forth therein; and

 

WHEREAS, as an inducement
to Acquiror and the Company to enter into the Merger Agreement and to consummate the transactions contemplated therein, the parties
hereto desire to agree to certain matters as set forth herein.

 

AGREEMENT

 

NOW, THEREFORE, in consideration
of the foregoing and the mutual agreements contained herein, and intending to be legally bound hereby, the parties hereto hereby
agree as follows:

 

ARTICLE
I

SPONSOR SUPPORT AGREEMENT; COVENANTS

 

Section 1.1           
Binding Effect of Merger Agreement. Each Sponsor hereby acknowledges that it has read the Merger Agreement and this
Sponsor Agreement and has had the opportunity to consult with its tax and legal advisors. Each Sponsor shall be bound by and comply
with Sections 7.4 (No Solicitation by Acquiror) and 12.12 (Publicity) of the Merger Agreement (and any relevant definitions
contained in any such Sections) as if such Sponsor was an original signatory to the Merger Agreement with respect to such provisions.

 

    	 	 	 

     

    

 

Section 1.2           
No Transfer. During the period commencing on the date hereof and ending on the earlier of (a) the Second Effective
Time and (b) such date and time as the Merger Agreement shall be terminated in accordance with Section 10.1 thereof (the earlier
of clauses (a) and (b), the “Expiration Time”), each Sponsor shall not (i) sell, offer to sell, contract or
agree to sell, hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree to dispose of, directly or indirectly,
file (or participate in the filing of) a registration statement with the SEC (other than the Proxy Statement/Information Statement/Registration
Statement) or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning
of Section 16 of the Exchange Act, with respect to any Acquiror Common Shares or Acquiror Warrants owned by such Sponsor, (ii)
enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership
of any shares of Acquiror Common Shares or Acquiror Warrants owned by such Sponsor or (iii) publicly announce any intention to
effect any transaction specified in clause (i) or (ii).

 

Section 1.3           
New Shares. In the event that (a) any Acquiror Common Shares, Acquiror Warrants or other equity securities of Acquiror
are issued to a Sponsor after the date of this Sponsor Agreement pursuant to any stock dividend, stock split, recapitalization,
reclassification, combination or exchange of Acquiror Common Shares or Acquiror Warrants of, on or affecting the Acquiror Common
Shares or Acquiror Warrants owned by such Sponsor or otherwise, (b) a Sponsor purchases or otherwise acquires beneficial ownership
of any Acquiror Common Shares, Acquiror Warrants or other equity securities of Acquiror after the date of this Sponsor Agreement,
or (c) a Sponsor acquires the right to vote or share in the voting of any Acquiror Common Shares or other equity securities of
Acquiror after the date of this Sponsor Agreement (such Acquiror Common Shares, Acquiror Warrants or other equity securities of
Acquiror, collectively the “New Securities”), then such New Securities acquired or purchased by such Sponsor
shall be subject to the terms of this Sponsor Agreement to the same extent as if they constituted the Acquiror Common Shares or
Acquiror Warrants owned by such Sponsor as of the date hereof.

 

Section 1.4           
Closing Date Deliverables. On the Closing Date, each of the Sponsor Holdco and the Director Holders (as defined therein)
shall deliver to Acquiror and the Company a duly executed copy of that certain Amended and Restated Registration Rights Agreement,
by and among Acquiror, the Company, the Sponsor Holdco, the Major Company Stockholders, and their respective Affiliates, as applicable,
and the other Holders (as defined therein) party thereto, in substantially the form attached as Exhibit C to the Merger Agreement.

 

    	 	2	 

     

    

 

Section 1.5           
Sponsor Agreements.

 

(a)         
At any meeting of the shareholders of Acquiror, however called, or at any adjournment thereof, or in any other circumstance
in which the vote, consent or other approval of the shareholders of Acquiror is sought, each Sponsor shall (i) appear at each such
meeting or otherwise cause all of its Acquiror Common Shares to be counted as present thereat for purposes of calculating a quorum
and (ii) vote (or cause to be voted), or execute and deliver a written consent (or cause a written consent to be executed and delivered)
covering, all of its Acquiror Common Shares:

 

(i)     
in favor of each Transaction Proposal;

 

(ii)     
against any Business Combination Proposal or any proposal relating to a Business Combination Proposal (in each case, other
than the Transaction Proposals);

 

(iii)     
against any merger agreement, merger, consolidation, combination, sale of substantial assets, reorganization, recapitalization,
dissolution, liquidation or winding up of or by Acquiror (other than the Merger Agreement and the transactions contemplated thereby);

 

(iv)     
against any change in the business, management or Board of Directors of Acquiror (other than in connection with the Transaction
Proposals); and

 

(v)     
against any proposal, action or agreement that would (A) impede, frustrate, prevent or nullify any provision of this Agreement,
the Merger Agreement or any Merger, (B) result in a breach in any respect of any covenant, representation, warranty or any other
obligation or agreement of Acquiror or the Merger Sub under the Merger Agreement, (C) result in any of the conditions set forth
in Article IX of the Merger Agreement not being fulfilled or (D) change in any manner the dividend policy or capitalization of,
including the voting rights of any class of capital stock of, Acquiror.

 

Each Sponsor hereby
agrees that it shall not commit or agree to take any action inconsistent with the foregoing.

 

(b)         
Each Sponsor shall comply with, and fully perform all of its obligations, covenants and agreements set forth in, that certain
Letter Agreement, dated as of April 21, 2020, by and among the Sponsors and Acquiror (the “Voting Letter Agreement”),
including the obligations of the Sponsors pursuant to Section 1 therein to not redeem any Acquiror Common Shares owned by such
Sponsor in connection with the transactions contemplated by the Merger Agreement.

 

(c)         
During the period commencing on the date hereof and ending on the earlier of the consummation of the Closing and the termination
of the Merger Agreement pursuant to Article X thereof, each Sponsor shall not modify or amend any Contract between or among such
Sponsor, anyone related by blood, marriage or adoption to such Sponsor or any Affiliate of such Sponsor (other than Acquiror or
any of its Subsidiaries), on the one hand, and Acquiror or any of Acquiror’s Subsidiaries, on the other hand, including,
for the avoidance of doubt, the Voting Letter Agreement.

 

    	 	3	 

     

    

 

Section 1.6           
Further Assurances. Each Sponsor shall take, or cause to be taken, all actions and do, or cause to be done, all things
reasonably necessary under applicable Laws to consummate the Mergers and the other transactions contemplated by the Merger Agreement
on the terms and subject to the conditions set forth therein and herein.

 

Section 1.7           
No Inconsistent Agreement. Each Sponsor hereby represents and covenants that such Sponsor has not entered into, and
shall not enter into, any agreement that would restrict, limit or interfere with the performance of such Sponsor’s obligations
hereunder.

 

ARTICLE
II

REPRESENTATIONS AND WARRANTIES

 

Section 2.1           
Representations and Warranties of the Sponsors. Each Sponsor represents and warrants as of the date hereof to Acquiror
and the Company (solely with respect to itself, himself or herself and not with respect to any other Sponsor) as follows:

 

(a)         
Organization; Due Authorization. If such Sponsor is not an individual, it is duly organized, validly existing and
in good standing under the Laws of the jurisdiction in which it is incorporated, formed, organized or constituted, and the execution,
delivery and performance of this Sponsor Agreement and the consummation of the transactions contemplated hereby are within such
Sponsor’s corporate, limited liability company or organizational powers and have been duly authorized by all necessary corporate,
limited liability company or organizational actions on the part of such Sponsor. If such Sponsor is an individual, such Sponsor
has full legal capacity, right and authority to execute and deliver this Sponsor Agreement and to perform his or her obligations
hereunder. This Sponsor Agreement has been duly executed and delivered by such Sponsor and, assuming due authorization, execution
and delivery by the other parties to this Sponsor Agreement, this Sponsor Agreement constitutes a legally valid and binding obligation
of such Sponsor, enforceable against such Sponsor in accordance with the terms hereof (except as enforceability may be limited
by bankruptcy Laws, other similar Laws affecting creditors’ rights and general principles of equity affecting the availability
of specific performance and other equitable remedies). If this Sponsor Agreement is being executed in a representative or fiduciary
capacity, the Person signing this Sponsor Agreement has full power and authority to enter into this Sponsor Agreement on behalf
of the applicable Sponsor.

 

(b)              
Ownership. Such Sponsor is the record and beneficial owner (as defined in the Securities Act) of, and has good title
to, all of such Sponsor’s Acquiror Common Shares and Acquiror Warrants, and there exist no Liens or any other limitation
or restriction (including any restriction on the right to vote, sell or otherwise dispose of such Acquiror Common Shares or Acquiror
Warrants (other than transfer restrictions under the Securities Act)) affecting any such Acquiror Common Shares or Acquiror Warrants,
other than Liens pursuant to (i) this Sponsor Agreement, (ii) the Acquiror’s Governing Documents, (iii) the Merger Agreement,
(iv) the Voting Letter Agreement or (v) any applicable securities Laws. Such Sponsor’s Acquiror Common Shares and Acquiror
Warrants are the only equity securities in Acquiror owned of record or beneficially by such Sponsor on the date of this Sponsor
Agreement, and none of such Sponsor’s Acquiror Common Shares or Acquiror Warrants are subject to any proxy, voting trust
or other agreement or arrangement with respect to the voting of such Acquiror Common Shares or Acquiror Warrants, except as provided
hereunder and under the Voting Letter Agreement. Other than the Acquiror Warrants, such Sponsor does not hold or own any rights
to acquire (directly or indirectly) any equity securities of Acquiror or any equity securities convertible into, or which can be
exchanged for, equity securities of Acquiror.

 

    	 	4	 

     

    

 

(c)              
No Conflicts. The execution and delivery of this Sponsor Agreement by such Sponsor does not, and the performance
by such Sponsor of his, her or its obligations hereunder will not, (i) if such Sponsor is not an individual, conflict with or result
in a violation of the organizational documents of such Sponsor or (ii) require any consent or approval that has not been given
or other action that has not been taken by any Person (including under any Contract binding upon such Sponsor or such Sponsor’s
Acquiror Common Shares or Acquiror Warrants), in each case, to the extent such consent, approval or other action would prevent,
enjoin or materially delay the performance by such Sponsor of its, his or her obligations under this Sponsor Agreement.

 

(d)              
Litigation. There are no Actions pending against such Sponsor, or to the knowledge of such Sponsor threatened against
such Sponsor, before (or, in the case of threatened Actions, that would be before) any arbitrator or any Governmental Authority,
which in any manner challenges or seeks to prevent, enjoin or materially delay the performance by such Sponsor of its, his or her
obligations under this Sponsor Agreement.

 

(e)              
Brokerage Fees. Except as described on Section 5.13 of the Acquiror Disclosure Letter, no broker, finder, investment
banker or other Person is entitled to any brokerage fee, finders’ fee or other commission in connection with the transactions
contemplated by the Merger Agreement based upon arrangements made by such Sponsor, for which Acquiror or any of its Affiliates
may become liable.

 

(f)               
Affiliate Arrangements. Except as set forth on Schedule II attached hereto, neither such Sponsor nor any anyone
related by blood, marriage or adoption to such Sponsor or, to the knowledge of such Sponsor, any Person in which such Sponsor has
a direct or indirect legal, contractual or beneficial ownership of 5% or greater is party to, or has any rights with respect to
or arising from, any Contract with Acquiror or its Subsidiaries.

 

(g)              
Acknowledgment. Such Sponsor understands and acknowledges that each of Acquiror and the Company is entering into
the Merger Agreement in reliance upon such Sponsor’s execution and delivery of this Sponsor Agreement.

 

ARTICLE
III

MISCELLANEOUS

 

Section 3.1           
Termination. This Sponsor Agreement and all of its provisions shall terminate and be of no further force or effect
upon the earlier of (a) the Expiration Time and (b) the written agreement of the Sponsors, Acquiror and the Company. Upon such
termination of this Sponsor Agreement, all obligations of the parties under this Sponsor Agreement will terminate, without any
liability or other obligation on the part of any party hereto to any Person in respect hereof or the transactions contemplated
hereby, and no party hereto shall have any claim against another (and no person shall have any rights against such party), whether
under contract, tort or otherwise, with respect to the subject matter hereof; provided, however, that the termination of this Sponsor
Agreement shall not relieve any party hereto from liability arising in respect of any breach of this Sponsor Agreement prior to
such termination. This ARTICLE III shall survive the termination of this Agreement.

 

    	 	5	 

     

    

 

Section 3.2           
Governing Law. This Sponsor Agreement, and all claims or causes of action (whether in contract or tort) that may
be based upon, arise out of or relate to this Sponsor Agreement or the negotiation, execution or performance of this Sponsor Agreement
(including any claim or cause of action based upon, arising out of or related to any representation or warranty made in or in connection
with this Sponsor Agreement) will be governed by and construed in accordance with the internal Laws of the State of Delaware applicable
to agreements executed and performed entirely within such State.

 

Section 3.3           
CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL.

 

(a)         
THE PARTIES TO THIS SPONSOR AGREEMENT SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE STATE COURTS LOCATED IN WILMINGTON, DELAWARE
OR THE COURTS OF THE UNITED STATES LOCATED IN WILMINGTON, DELAWARE IN RESPECT OF THE INTERPRETATION AND ENFORCEMENT OF THE PROVISIONS
OF THIS SPONSOR AGREEMENT AND ANY RELATED AGREEMENT, CERTIFICATE OR OTHER DOCUMENT DELIVERED IN CONNECTION HEREWITH AND BY THIS
SPONSOR AGREEMENT WAIVE, AND AGREE NOT TO ASSERT, ANY DEFENSE IN ANY ACTION FOR THE INTERPRETATION OR ENFORCEMENT OF THIS SPONSOR
AGREEMENT AND ANY RELATED AGREEMENT, CERTIFICATE OR OTHER DOCUMENT DELIVERED IN CONNECTION HEREWITH, THAT THEY ARE NOT SUBJECT
THERETO OR THAT SUCH ACTION MAY NOT BE BROUGHT OR IS NOT MAINTAINABLE IN SUCH COURTS OR THAT THIS SPONSOR AGREEMENT MAY NOT BE
ENFORCED IN OR BY SUCH COURTS OR THAT THEIR PROPERTY IS EXEMPT OR IMMUNE FROM EXECUTION, THAT THE ACTION IS BROUGHT IN AN INCONVENIENT
FORUM, OR THAT THE VENUE OF THE ACTION IS IMPROPER. SERVICE OF PROCESS WITH RESPECT THERETO MAY BE MADE UPON ANY PARTY TO THIS
SPONSOR AGREEMENT BY MAILING A COPY THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO SUCH PARTY AT ITS ADDRESS AS PROVIDED
IN Section 3.8.

 

(b)         
WAIVER OF TRIAL BY JURY. EACH PARTY HERETO HEREBY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER
THIS SPONSOR AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY
AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY
ARISING OUT OF OR RELATING TO THIS SPONSOR AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS SPONSOR AGREEMENT. EACH PARTY CERTIFIES
AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT
SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (II) EACH SUCH PARTY UNDERSTANDS
AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (III) EACH SUCH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (IV) EACH SUCH PARTY
HAS BEEN INDUCED TO ENTER INTO THIS SPONSOR AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS Section
3.3.

 

    	 	6	 

     

    

 

Section 3.4           
Assignment. This Sponsor Agreement and all of the provisions hereof will be binding upon and inure to the benefit
of the parties hereto and their respective heirs, successors and permitted assigns. Neither this Sponsor Agreement nor any of the
rights, interests or obligations hereunder will be assigned (including by operation of law) without the prior written consent of
the parties hereto.

 

Section 3.5           
Specific Performance. The parties hereto agree that irreparable damage may occur in the event that any of the provisions
of this Sponsor Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly
agreed that the parties hereto shall be entitled to seek an injunction or injunctions to prevent breaches of this Sponsor Agreement
and to enforce specifically the terms and provisions of this Sponsor Agreement in the chancery court or any other state or federal
court within the State of Delaware, this being in addition to any other remedy to which such party is entitled at law or in equity.

 

Section 3.6           
Amendment. This Sponsor Agreement may not be amended, changed, supplemented, waived or otherwise modified or terminated,
except upon the execution and delivery of a written agreement executed by Acquiror, the Company and the Sponsor Holdco.

 

Section 3.7           
Severability. If any provision of this Sponsor Agreement is held invalid or unenforceable by any court of competent
jurisdiction, the other provisions of this Sponsor Agreement will remain in full force and effect. Any provision of this Sponsor
Agreement held invalid or unenforceable only in part or degree will remain in full force and effect to the extent not held invalid
or unenforceable.

 

Section 3.8           
Notices. All notices and other communications among the parties hereto shall be in writing and shall be deemed to
have been duly given (a) when delivered in person, (b) when delivered after posting in the United States mail having been sent
registered or certified mail return receipt requested, postage prepaid, (c) when delivered by FedEx or other nationally recognized
overnight delivery service or (d) when e-mailed during normal business hours (and otherwise as of the immediately following Business
Day), addressed as follows:

 

If to Acquiror:

 

Social Capital Hedosophia Holdings Corp. III

 

317 University Avenue

Palo Alto, California 94301

		Attention:	Steve Trieu

		Email:	steve@socialcapital.com

 

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

 

    	 	7	 

     

    

 

Skadden, Arps, Slate, Meagher & Flom LLP

One Manhattan West

New York, New York 10001

		Attention:	Howard L. Ellin

Christopher M. Barlow

		Email:	howard.ellin@skadden.com

christopher.barlow@skadden.com

 

If to the Company:

 

Clover Health Investments, Corp.

725 Cool Springs Blvd

Suite 320

Franklin, TN 37067

 

		Attention:	Gia Lee, General Counsel

		Email:	gia.lee@cloverhealth.com

 

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

Orrick, Herrington & Sutcliffe LLP

51 West 52nd Street

New York, NY 10019-6142

		Attention:	Stephen Thau

Matthew Gemello

Justin Yi

		Email:	sthau@orrick.com

mgemello@orrick.com

justin.yi@orrick.com

 

If to a Sponsor:

 

To such Sponsor’s address set forth in Schedule
I attached hereto

 

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

 

Skadden, Arps, Slate, Meagher & Flom LLP

One Manhattan West

New York, New York 10001

		Attention:	Howard L. Ellin

Christopher M. Barlow

		Email:	howard.ellin@skadden.com

christopher.barlow@skadden.com

 

Section 3.9           
Counterparts. This Sponsor Agreement may be executed in two or more counterparts (any of which may be delivered by
electronic transmission), each of which shall constitute an original, and all of which taken together shall constitute one and
the same instrument.

 

Section 3.10       
Entire Agreement. This Sponsor Agreement and the agreements referenced herein constitute the entire agreement and
understanding of the parties hereto in respect of the subject matter hereof and supersede all prior understandings, agreements
or representations by or among the parties hereto to the extent they relate in any way to the subject matter hereof.

 

[THE REMAINDER OF THIS PAGE IS INTENTIONALLY
BLANK]

 

    	 	8	 

     

    

 

IN WITNESS WHEREOF,
the Sponsors, Acquiror, and the Company have each caused this Sponsor Support Agreement to be duly executed as of the date first
written above.

 

	 	SPONSORS:
	 	 	 	 
	 	SCH SPONSOR III LLC
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Chamath Palihapitiya
	 	 	Name:	Chamath Palihapitiya
	 	 	Title:	Chief Executive Officer
	 	 	 	 
	 	 	 	 
	 	/s/ Chamath Palihapitiya
	 	Name:	Chamath Palihapitiya
	 	 	 	 
	 	/s/ Ian Osborne
	 	Name:	Ian Osborne
	 	 	 	 
	 	/s/ Jacqueline D. Reses
	 	Name:	Jacqueline D. Reses
	 	 	 	 
	 	/s/ Dr. James Ryans
	 	Name:	Dr. James Ryans

 

 

[Signature Page to Sponsor Support Agreement]

 

     

     

    

 

	 	ACQUIROR:
 
 SOCIAL CAPITAL HEDOSOPHIA HOLDINGS CORP. III
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Chamath Palihapitiya
	 		Name:	Chamath Palihapitiya
	 		Title:	Chief Executive Officer

 

 

[Signature Page to Sponsor Support Agreement]

 

     

     

    

 

	 	COMPANY:
 
 CLOVER HEALTH INVESTMENTS, CORP.
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Vivek Garipalli
	 		Name:	Vivek Garipalli
	 		Title:	Chief Executive Officer

 

 

[Signature Page to Sponsor Support Agreement]

 

     

     

    

 

Schedule I

Sponsor Acquiror Common Shares and Acquiror
Warrants

 

	Sponsor

                                                                                 
	Acquiror Common Shares	Acquiror Warrants
	
        SCH Sponsor III LLC

         

        c/o Social Capital Hedosophia Holding Corp.
        III

        317 University Ave, Suite 200, Palo Alto,
        CA 94301
	20,500,000	10,933,333
	
        Chamath Palihapitiya

         

        c/o Social Capital Hedosophia Holding Corp.
        III

        317 University Ave, Suite 200, Palo Alto,
        CA 94301
	— (1)	— (1)
	
        Ian Osborne

         

        c/o Social Capital Hedosophia Holding Corp.
        III

        317 University Ave, Suite 200, Palo Alto,
        CA 94301
	— (1)	— (1)
	
        Jacqueline D. Reses

         

        c/o Social Capital Hedosophia Holding Corp.
        III

        317 University Ave, Suite 200, Palo Alto,
        CA 94301
	100,000	—
	
        Dr. James Ryans

         

        c/o Social Capital Hedosophia Holding Corp. III

        317 University Ave, Suite 200, Palo Alto,
        CA 94301
	100,000	—

		(1)	Messrs. Palihapitiya and Osborne may be deemed to beneficially own securities held by SCH Sponsor III LLC by virtue of their
shared control over SCH Sponsor III LLC. Each of Messrs. Palihapitiya and Osborne disclaims beneficial ownership of securities
held by SCH Sponsor III LLC.

 

 

[Schedule I to Sponsor Support Agreement]

 

     

     

    

 

Schedule II

 

Affiliate Agreements

 

		1.	Letter Agreement, dated April 20, 2020, among Acquiror and Connaught (UK) Limited

		2.	Letter Agreement, dated April 21, 2020, among Acquiror, SCH Sponsor III LLC and each of the other
parties thereto

		3.	Registration Rights Agreement, dated April 21, 2020, among Acquiror, SCH Sponsor III LLC and certain
other security holders named therein

		4.	Administrative Services Agreement, dated April 21, 2020, between Acquiror and Social Capital Holdings,
Inc., which shall terminate at Closing without further liability, cost, payment or other obligation of Acquiror

		5.	Indemnity Agreement, dated April 21, 2020, between the Company and Chamath Palihapitiya

		6.	Indemnity Agreement, dated April 21, 2020, between the Company and Ian Osborne

		7.	Indemnity Agreement, dated April 21, 2020, between the Company and Jacqueline D. Reses

		8.	Indemnity Agreement, dated April 21, 2020, between the Company and Dr. James Ryans

 

 

[Schedule II to Sponsor Support Agreement]

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