Document:

vapo-ex49_154.htm

Exhibit 4.9

DESCRIPTION OF THE REGISTRANT’S SECURITIES

REGISTERED PURSUANT TO SECTION 12 OF THE

SECURITIES EXCHANGE ACT OF 1934

Vapotherm, Inc. (the “Company”) has one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

Description of Capital Stock

The following description of the Company’s capital stock is a summary and does not purport to be complete. It is subject to and qualified in its entirety by reference to the Company’s Tenth Amended and Restated Certificate of Incorporation, as amended (the “Certificate of Incorporation”), and Amended and Restated Bylaws (the “Bylaws”), each of which is incorporated by reference as an exhibit to the Company’s most recent Annual Report on Form 10-K. The Company encourages you to read the Certificate of Incorporation, the Bylaws and the applicable provisions of the Delaware General Corporation Law (“DGCL”) for additional information.

Authorized Capital Shares

The Certificate of Incorporation authorizes the issuance of 175,000,000 shares of common stock, $0.001 par value per share (“Common Stock”), and 25,000,000 shares of preferred stock, $0.001 par value per share (“Preferred Stock”). 

Voting Rights

Holders of the Company’s Common Stock are entitled to one vote for each share held on all matters submitted to a vote of stockholders and do not have cumulative voting rights. All matters other than the election of directors shall be determined by a majority of the votes cast on the matter affirmatively or negatively. A nominee for director shall be elected to the Company’s board of directors if the votes properly cast for such nominee’s election exceed the votes properly cast against such nominee’s election; provided, however, that directors shall be elected by a plurality of the votes properly cast at any meeting of stockholders at which there is a contested election of directors.

Dividend Rights

Holders of Common Stock are entitled to receive proportionately any dividends as may be declared by the Company’s board of directors, subject to any preferential dividend rights of any series of Preferred Stock that we may designate and issue in the future.

Liquidation Rights

In the event of the Company’s liquidation or dissolution, the holders of Common Stock are entitled to receive proportionately the Company’s net assets available for distribution to stockholders after the payment of all debts and other liabilities and subject to the prior rights of any outstanding Preferred Stock.

Other Rights and Preferences

The Common Stock has no redemption provisions or preemptive, conversion or exchange rights. No shares of any class of the Company’s capital stock are subject to any sinking fund provisions, restrictions on the alienability of securities to be registered, calls, assessments by or liabilities of the Company.

Certain Provisions of the Certificate of Incorporation, Bylaws and the DGCL

Certain provisions of the Certificate of Incorporation, Bylaws and the DGCL may be deemed to have an anti-takeover effect and may prevent, delay or defer a tender offer or takeover attempt, including:

Section 203 of the DGCL

The Company is subject to the provisions of Section 203 of the DGCL. In general, Section 203 prohibits a publicly-held Delaware corporation from engaging in a “business combination” with an “interested stockholder” for a three-year period following the time that this stockholder becomes an interested stockholder, unless the business combination is approved in a prescribed manner. A “business combination” includes, among other things, a merger, asset or stock sale or other transaction resulting in a financial benefit to the interested stockholder. An “interested stockholder” is a person who, together with affiliates and associates, owns, or did own within three years prior to the determination of interested stockholder status, 15% or more of the corporation’s voting stock.

Under Section 203, a business combination between a corporation and an interested stockholder is prohibited unless it satisfies one of the following conditions: before the stockholder became interested, the corporation’s board of directors approved either the business combination or the transaction which resulted in the stockholder becoming an interested stockholder; upon consummation of the transaction which resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding, for purposes of determining the voting stock outstanding, shares owned by persons who are directors and also officers and employee stock plans, in some instances; or at or after the time the stockholder became interested, the business combination was approved by the board of directors of the corporation and authorized at an annual or special meeting of the stockholders by the affirmative vote of at least two-thirds of the outstanding voting stock which is not owned by the interested stockholder.

A Delaware corporation may “opt out” of these provisions with an express provision in its original certificate of incorporation or an express provision in its certificate of incorporation or bylaws resulting from a stockholders’ amendment approved by at least a majority of the outstanding voting shares. The Company has not opted out of these provisions. As a result, mergers or other takeover or change in control attempts of the Company may be discouraged or prevented.

Anti-Takeover Effects of the Company’s Certificate of Incorporation and Bylaws

The Company’s Certificate of Incorporation and Bylaws contain certain provisions that are intended to enhance the likelihood of continuity and stability in the composition of the board of directors but which may have the effect of delaying, deferring or preventing a future takeover or change in control of the Company unless such takeover or change in control is approved by the board of directors.

These provisions include:

Classified board. The Company’s Certificate of Incorporation provides that the Company’s board of directors be divided into three classes of directors, with the classes as nearly equal in number as possible. As a result, approximately one-third of the board of directors will be elected each year. The classification of directors has the effect of making it more difficult for stockholders to change the composition of the Company’s board of directors. The Company’s Certificate of Incorporation also provides that, subject to any rights of holders of Preferred Stock to elect additional directors under specified circumstances, the number of directors will be fixed exclusively pursuant to a resolution adopted by the board of directors. 

Action by written consent; special meetings of stockholders. The Company’s Certificate of Incorporation provides that stockholder action can be taken only at an annual or special meeting of stockholders and cannot be taken by written consent in lieu of a meeting. The Company’s Certificate of Incorporation also provides that, except as otherwise required by law, special meetings of the stockholders can only be called pursuant to a resolution adopted by a majority of the board of directors. Except as described above, stockholders are not permitted to call a special meeting or to require the Company’s board of directors to call a special meeting.

Removal of directors. The Company’s Certificate of Incorporation provides that its directors may be removed only for cause by the affirmative vote of at least 75% of the voting power of the outstanding shares of capital stock, voting together as a single class. This requirement of a supermajority vote to remove directors could enable a minority of the Company’s stockholders to prevent a change in the composition of the board of directors.

Advance notice procedures. The Company’s Bylaws have an advance notice procedure for stockholder proposals to be brought before an annual meeting of its stockholders, including proposed nominations of persons for election to the board of directors. Stockholders at an annual meeting are only be able to consider proposals or nominations specified in the notice of meeting or brought before the meeting by or at the direction of the board of directors or by a stockholder of record who was a stockholder of record at the time of the giving of the notice, is entitled to vote at the meeting and who has given the Company’s Secretary timely written notice, in proper form, of the stockholder’s intention to bring that business before the meeting. Although the Bylaws do not give the Company’s board of directors the power to approve or disapprove stockholder nominations of candidates or proposals regarding other business to be conducted at a special or annual meeting, the Bylaws may have the effect of precluding the conduct of certain business at a meeting if the proper procedures are not followed or may discourage or deter a potential acquirer from conducting a solicitation of proxies to elect its own slate of directors or otherwise attempting to obtain control of the Company.

Supermajority approval requirements. The DGCL generally provides that the affirmative vote of a majority of the shares entitled to vote on any matter is required to amend a corporation’s certificate of incorporation or bylaws, unless either a corporation’s certificate of incorporation or bylaws requires a greater percentage. The Company’s Certificate of Incorporation and Bylaws provide that the affirmative vote of holders of at least 75% of the total votes eligible to be cast in the election of directors will be required to alter, amend, repeal or adopt certain provisions of the Certificate of Incorporation or to make, alter, amend or repeal the Bylaws. This requirement of a supermajority vote to approve amendments to the Company’s Certificate of Incorporation and Bylaws could enable a minority of its stockholders to exercise veto power over any such amendments.

Authorized but unissued shares. The Company’s authorized but unissued shares of Common Stock and Preferred Stock are available for future issuance without stockholder approval. These additional shares may be utilized for a variety of corporate purposes, including future public offerings to raise additional capital, corporate acquisitions and employee benefit plans. The existence of authorized but unissued shares of Common Stock and Preferred Stock could render more difficult or discourage an attempt to obtain control of a majority of the Company’s Common Stock by means of a proxy contest, tender offer, merger or otherwise.

Exclusive forum. The Company’s Certificate of Incorporation requires, to the fullest extent permitted by law, that derivative actions brought in the name of the Company, actions against directors, officers and employees for breach of a fiduciary duty, actions asserting a claim against the Company arising pursuant to any provision of the DGCL, the Certificate of Incorporation or the Bylaws, actions to interpret, apply, enforce or determine the validity of the Certificate of Incorporation or the Bylaws and actions asserting a claim against the Company governed by the internal affairs doctrine be brought only in 

specified courts in the State of Delaware. The Company’s Certificate of Incorporation additionally requires that actions arising under the Securities Act of 1933, as amended, be brought only in the federal district courts of the United States of America. Although the Company believes these provisions beneficially provide increased consistency in the application of relevant law in the types of lawsuits to which it applies, such provision may have the effect of discouraging lawsuits against the Company’s directors and officers.

Transfer Agent and Registrar

The transfer agent and registrar for the Company’s Common Stock is American Stock Transfer & Trust Company, LLC.

Listing

The Company’s Common Stock is listed on the New York Stock Exchange under the symbol “VAPO.”Exhibit 10.1

 

EXECUTION VERSION

 

 

SUBSCRIPTION AGREEMENT

 

This SUBSCRIPTION AGREEMENT
(this “Subscription Agreement”) is entered into on February 23, 2021, by and between Revolution Acceleration
Acquisition Corp, a Delaware corporation (“RAAC”),
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 RAAC, Berkshire Grey, Inc., a Delaware corporation (the “Company”),
Pickup Merger Corp, a Delaware corporation (“RAAC
Merger Sub”), and the other parties thereto, pursuant to which, among other things, RAAC 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 RAAC, and RAAC will change its name to “Berkshire Grey, Inc.”, on the terms and subject
to the conditions therein (the “Transaction”);

 

WHEREAS, in connection
with the Transaction, RAAC is seeking commitments from interested investors to purchase, prior to the closing of the Transaction,
shares of RAAC’s Class A common stock, par value $0.001 per share (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”;
and

 

WHEREAS, substantially
concurrently with the execution of this Subscription Agreement, RAAC is entering into separate subscription agreements (collectively,
the “Other Subscription Agreements”) with certain investors (the “Other Investors”) with
an aggregate purchase price of $165,000,000 (inclusive of the Subscription Amount) (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 RAAC acknowledges and agrees as follows:

 

1. Subscription.
The Investor hereby irrevocably subscribes for and agrees to purchase from RAAC, and RAAC hereby irrevocably agrees to sell to
the Investor, the number of Shares set forth on the signature page of this Subscription Agreement, in each case, on the terms and
subject to the conditions provided for herein.

 

2. Closing.
The closing of the sale of the Shares contemplated hereby (the “Closing”)
shall occur on a closing date (the “Closing
Date”) specified in the Closing Notice (as defined below), and be conditioned upon the prior or substantially
concurrent consummation of the Transaction (the closing date of the Transaction, the “Transaction Closing Date”).
Upon delivery of written notice from (or on behalf of) RAAC to the Investor (the “Closing
Notice”), that RAAC reasonably expects all conditions to the closing of the Transaction to be satisfied or waived
on an expected Transaction 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 the Subscription Amount three (3) business days prior to the expected
Closing Date by wire transfer of United States dollars in immediately available funds to the account(s) specified by RAAC in the
Closing Notice. On the Closing Date, RAAC 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 the RAAC 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
are authorized or required by law to close. Prior to or at the Closing, Investor shall deliver to RAAC a duly completed and executed
Internal Revenue Service Form W-9 or appropriate Form W-8. In the event the Transaction Closing Date does not occur within two
(2) business days after the Closing Date under this Subscription Agreement, RAAC 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 repurchased and 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); (c)(i) solely with respect to the Investor’s obligation to close, the representations and warranties made by RAAC,
and (ii) solely with respect to the RAAC’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;
(d) solely with respect to the Investor’s obligation to close, RAAC shall have performed, satisfied and complied in all material
respects with all covenants, agreements and conditions required by this Subscription Agreement to be performed, satisfied or complied
with by it at or prior to the Closing;

 

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 to consummate the subscription as contemplated by this
Subscription Agreement.

 

5. RAAC
Representations and Warranties. RAAC represents and warrants to the Investor, as of the date hereof and as of the Closing date,
that:

 

(a) RAAC
has been duly incorporated and is validly existing as a corporation in good standing under the laws of the State of Delaware, with
corporate power 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.

 

(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 RAAC’s certificate
of incorporation and bylaws (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 RAAC and, assuming that this Subscription Agreement
constitutes the valid and binding agreement of the Investor, this Subscription Agreement is enforceable against RAAC 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.

 

(d) The
execution, delivery and performance of this Subscription Agreement, including issuance and sale by RAAC 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 RAAC 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 RAAC or any of its subsidiaries is a party or by which RAAC or any of
its subsidiaries is bound or to which any of the property or assets of RAAC is subject that would reasonably be expected to have
a material adverse effect on the business, financial condition or results of operations of RAAC and its subsidiaries, taken as
a whole (a “Material Adverse Effect”),
or materially affect the validity of the Shares or the legal authority of RAAC 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 RAAC;
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 RAAC 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 RAAC to comply in all material
respects with its obligations under this Subscription Agreement.

 

    2

     

    

 

(e) As
of their respective filing dates, all reports required to be filed by RAAC with the U.S. Securities and Exchange Commission (the
“SEC”) since December 10, 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. None of the SEC Reports filed under the Exchange Act included, when filed
or, if amended, as of the date of such amendment with respect to those disclosures that are amended, any untrue statement of a
material fact or omitted to state a material fact necessary to make the statements therein, in the light of the circumstances under
which they were made, not misleading; provided, that RAAC makes no such representation or warranty with respect to any registration
statement or any proxy statement/prospectus to be filed by RAAC with respect to the Transaction or any other information relating
to the Company or any of its affiliates included in any SEC Report or filed as an exhibit thereto. RAAC has timely filed with the
SEC each SEC Report that RAAC was required to file with the SEC. As of the date hereof, there are no material outstanding or unresolved
comments in comment letters received by RAAC from the staff of the Division of Corporation Finance of the SEC with respect to any
of the SEC Reports.

 

(f) RAAC
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 RAAC’s stockholders, and (v) those 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, RAAC has not received any written communication from a governmental authority that alleges that RAAC 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 RAAC to the Investor.

 

(i) Neither
RAAC 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) RAAC
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 Agent (as defined below).

 

(k) As
of the date hereof, the Class A common stock, par value $0.001 per share, of RAAC is registered pursuant to Section 12(b) of the
Exchange Act and listed for trading on Nasdaq. There is no suit, action, claim, proceeding or investigation pending or, to the
knowledge of RAAC, threatened against RAAC by Nasdaq or the SEC with respect to any intention by such entity to deregister the
Class A common stock or to prohibit or terminate the listing of the Class A common stock on Nasdaq, excluding, for the purposes
of clarity, the customary ongoing review by Nasdaq in connection with the Transactions. RAAC has taken no action that is designed
to terminate the registration of the Class A common stock under the Exchange Act prior to the Subscription Closing.

 

(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 that are mutual funds or are otherwise
subject to regulations related to the timing of funding and the issuance of the related Shares. RAAC has not entered into any subscription
agreement, side letter or other agreement with any Other Investor or any other investor in connection with such Other Subscriber’s
or investor’s direct or indirect investment in RAAC other than (i) the Other Subscription Agreements, (ii) the documents
filed as exhibits to the Current Report on Form 8-K to be filed as of the date hereof in connection with the Transaction and (iii)
the Transaction Agreement.

 

    3

     

    

 

(m) RAAC
acknowledges that, notwithstanding anything herein to the contrary, the Shares may be pledged by Investor in connection with a
bona fide margin agreement, provided such pledge shall be (i) pursuant to an available exemption from the registration requirements
of the Securities Act or (ii) pursuant to, and in accordance with, a registration statement that is effective under the Securities
Act at the time of such pledge, and Investor effecting a pledge of Shares shall not be required to provide RAAC with any notice
thereof; provided, however, that neither RAAC or its counsel shall be required to take any action (or refrain from taking any action)
in connection with any such pledge, other than providing any such lender of such margin agreement with an acknowledgment that the
Shares are not subject to any contractual prohibition on pledging or lock up, the form of such acknowledgment to be subject to
review and comment by RAAC in all respects.

 

6. Investor
Representations and Warranties. The Investor represents and warrants to RAAC, as of the date hereof and as of the Closing date,
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 RAAC 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 RAAC 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 or book entries 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 RAAC. The Investor further acknowledges that there
have been no representations, warranties, covenants and agreements made to the Investor by or on behalf of RAAC, 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 RAAC 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 to make an investment
decision with respect to the Shares, including, with respect to RAAC, 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 RAAC’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.

 

    4

     

    

 

(e) The
Investor became aware of this offering of the Shares solely by means of direct contact between the Investor and RAAC, the Company
or a representative of RAAC or the Company, and the Shares were offered to the Investor solely by direct contact between the Investor
and RAAC, the Company or a representative of RAAC 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, RAAC, the Company, the Placement Agent, 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 RAAC contained in Section 5 of this Subscription Agreement, in making its investment or decision to invest in RAAC.

 

(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 RAAC’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 RAAC 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 RAAC. 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 RAAC 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 Agent or any of its respective
affiliates or any control persons, officers, directors, employees, agents or representatives of any of the foregoing concerning
RAAC, 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, and has the requisite 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 RAAC, 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.

 

    5

     

    

 

(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.

 

(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) it has not relied on RAAC or any of its affiliates for investment advice as
the Plan’s fiduciary with respect to its decision to acquire and hold the Shares, and none of the parties to the Transaction
shall at any time be relied on as 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 (the “Placement
Agent”) or any of its affiliates in connection with the offer and sale of the Shares.

 

(o) None
of the Placement Agent, nor any of its affiliates, nor any control persons, officers, directors, employees, agents or representatives
of any of the foregoing has made any independent investigation with respect to RAAC, 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 RAAC.

 

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

 

    6

     

    

 

(q) The
Investor has or has commitments to have and, when required to deliver payment to RAAC 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.

 

(r) The
Investor acknowledges and is aware that (i) the Placement Agent is acting as RAAC’s placement agent, (ii) Credit Suisse is
acting as capital markets advisor to the Company in connection with the Transaction and (iii) Credit Suisse has served in various
commercial roles for the Company, its affiliates and certain funds and business development companies that Credit Suisse and its
affiliates advise. The Investor understands and acknowledges that Credit Suisse’s role as capital markets advisor to the
Company may give rise to potential conflicts of interest or the appearance thereof.

 

7. Registration
Rights.

 

(a) RAAC
agrees that, within thirty (30) calendar days following the Closing Date (such deadline, the “Filing Deadline”),
RAAC will submit to or file with the SEC a registration statement for a shelf registration on Form S-1 or Form S-3 (if RAAC 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 (2) business days prior to such submission or filing) (the “Registrable
Shares”) and RAAC 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 RAAC that it will “review” the Registration Statement and (ii) the 10th
business day after the date RAAC 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 RAAC’s obligations to include the Registrable Shares
in the Registration Statement are contingent upon Investor furnishing in writing to RAAC such information regarding Investor or
its permitted assigns, the securities of RAAC 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 RAAC to effect the registration
of the Registrable Shares, and Investor shall execute such documents in connection with such registration as RAAC may reasonably
request that are customary of a selling stockholder in similar situations, including providing that RAAC 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. Notwithstanding the foregoing, if the SEC prevents RAAC from including any or all of the shares proposed to be registered
under the Registration Statement due to limitations on the use of Rule 415 under the Securities Act for the resale of the Shares
pursuant to this Section 7 by the applicable stockholders or otherwise, such Registration Statement shall register for resale such
number of Shares which is equal to the maximum number of Shares as is permitted to be registered by the SEC. In such event, the
number of Shares to be registered for each selling stockholder named in the Registration Statement shall be reduced pro rata among
all such selling stockholders. In no event shall the Investor be identified as a statutory underwriter in the Registration Statement
without the Investor’s prior written consent. For as long as the Investor holds Shares, RAAC 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 RAAC to file the Registration Statement by the Filing Deadline or to effect such Registration Statement by the Effectiveness
Deadline shall not otherwise relieve RAAC of its obligations to file or effect the Registration Statement as set forth above in
this Section 7.

 

(b) At
its expense RAAC shall:

 

(i) except
for such times as RAAC 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 RAAC 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 RAAC 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. The period of time during which RAAC is required hereunder to keep a Registration Statement effective
is referred to herein as the “Registration
Period”;

 

    7

     

    

 

(ii) during
the Registration Period, 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 RAAC 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.

 

Notwithstanding anything to the contrary
set forth herein, RAAC shall not, when so advising Investor of such events, provide Investor with any material, nonpublic information
regarding RAAC 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 RAAC;

 

(iii) during
the Registration Period, 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) during
the Registration Period, upon the occurrence of any event contemplated in Section 7(b)(ii)(4) above, except for such times
as RAAC is permitted hereunder to suspend, and has suspended, the use of a prospectus forming part of a Registration Statement,
RAAC 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) during
the Registration Period, 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 common stock issued by RAAC have been listed;

 

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

 

(vii) during
the Registration Period, 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.

 

    8

     

    

 

(c) Notwithstanding
anything to the contrary in this Subscription Agreement, RAAC 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 or (ii) the negotiation or consummation of a transaction
by RAAC or its subsidiaries is pending or an event has occurred, which negotiation, consummation or event RAAC’s board of
directors reasonably believes would require additional disclosure by RAAC in the Registration Statement of material information
that RAAC 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 RAAC’s board of directors to cause the Registration Statement to fail
to comply with applicable disclosure requirements, (each such circumstance, a “Suspension
Event”); provided, however, that RAAC 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 RAAC 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 RAAC 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 RAAC 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 RAAC unless otherwise required by law or subpoena. If so directed by RAAC, Investor
will deliver to RAAC 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) 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.

 

(d) Indemnification.

 

(i) RAAC
agrees to indemnify, to the extent permitted by law, the Investor (to the extent a seller under the Registration Statement), its
directors, officers, partners, managers, members, stockholders, advisors and each person who controls the 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) 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 RAAC 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 RAAC in writing such information and affidavits as RAAC reasonably requests for use in connection with any such Registration
Statement or Prospectus and, to the extent permitted by law, shall indemnify RAAC, its directors and officers and each person or
entity who controls RAAC (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.

 

    9

     

    

 

(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. 

 

(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.

 

    10

     

    

 

(e) The
Investor may deliver written notice (an “Opt-Out Notice”) to RAAC requesting that Investor not receive notices from
RAAC otherwise required by this Section 7(c); provided, however, that Investor may later revoke any such Opt-Out Notice in writing.
Following receipt of an Opt-Out Notice from Investor (unless subsequently revoked), (i) RAAC shall not deliver any such notices
to Investor and Investor shall no longer be entitled to the rights associated with any such notice and (ii) each time prior to
Investor’s intended use of an effective Registration Statement, Investor will notify RAAC in writing at least two (2) business
days in advance of such intended use, and if a notice of a Suspension Event was previously delivered (or would have been delivered
but for the provisions of this Section 7(c)) and the related suspension period remains in effect, RAAC will so notify Investor,
within one (1) business day of Investor’s notification to RAAC, by delivering to Investor a copy of such previous notice
of Suspension Event, and thereafter will provide Investor with the related notice of the conclusion of such Suspension Event promptly
following its availability.

 

(f) The
legend described in Section 7(b) shall be removed and RAAC shall issue a certificate without such legend to the holder of
the Shares upon which it is stamped or issue to such holder by electronic delivery at the applicable balance account at The Depository
Trust Company (“DTC”), no later than the second day (or, if shorter, the then-effective settlement period for
securities transactions) following the date on which the Registration Statement is declared effective or (ii) at any time following 
the first date on which of the Shares may be sold without registration under the applicable requirements of the Securities Act.
RAAC shall be responsible for the fees of its transfer agent and all DTC fees associated with such issuance.

 

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 at, 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) August 23, 2021 if the closing of the Transaction has not occurred on or before such
date; 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. RAAC 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 RAAC 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 RAAC is a blank check company with the powers and privileges to effect a merger,
asset acquisition, reorganization or similar business combination involving RAAC and one or more businesses or assets. The Investor
further acknowledges that, as described in RAAC’s prospectus relating to its initial public offering dated December 7, 2020
(the “IPO Prospectus”)
available at www.sec.gov, substantially all of RAAC’s assets consist of the cash proceeds of RAAC’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 RAAC, its public shareholders and the underwriter of RAAC’s initial public offering. Except with respect to
interest earned on the funds held in the Trust Account that may be released to RAAC 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 RAAC 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 Class A common stock of RAAC
acquired by any means other than pursuant to this Subscription Agreement.

 

    11

     

    

 

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 RAAC hereunder or any of RAAC’s obligations may be transferred or assigned other than pursuant
to the Transaction.

 

(b) RAAC
may request from the Investor such additional information as RAAC 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, and provided that RAAC agrees to keep any such information provided by Investor confidential,
except as may be required by applicable law, rule, regulation or in connection with any legal proceeding or regulatory request..
The Investor acknowledges that RAAC may file a form of this Subscription Agreement with the SEC as an exhibit to a current or periodic
report or a registration statement of RAAC.

 

(c) The
Investor acknowledges that RAAC and the Placement Agent (as third party beneficiary with the right to enforce Section 5,
Section 6, Section 10 (to the extent applicable to it), and Section 11 hereof on its own behalf and not, for
the avoidance of doubt, on behalf of RAAC or the Company) 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 RAAC and the Placement Agent if any of the acknowledgments, understandings, agreements, representations and warranties of
the Investor set forth herein are no longer accurate.

 

(d) RAAC,
the Placement Agent (to the extent set forth in Section 10(c)) 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.

 

(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 and, to the extent required by the Transaction Agreement,
the Company. 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.

 

(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 7(b), (Section 10(c) and Section 10(d) 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.

 

    12

     

    

 

(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) or SECTION 13 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.

 

(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).

 

    13

     

    

 

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 Agent, any of its 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 RAAC expressly contained in Section 5 of this Subscription Agreement,
in making its investment or decision to invest in RAAC. 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 Agent, its 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
RAAC), or (iv) any affiliates, or any control persons, officers, directors, employees, partners, agents or representatives of any
of RAAC, 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. RAAC 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 RAAC 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 RAAC, the Investors shall
not be in possession of any material, non-public information received from RAAC or any of its officers, directors or employees.
All press releases or other public communications relating to the transactions contemplated hereby between RAAC and the Investor,
and the method of the release for publication thereof, shall be subject to the prior approval of (i) RAAC, and (ii) to the extent
such press release or public communication references the Investor or its affiliates or investment advisers by name, the Investor.
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:

 

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

 

If to RAAC, to:

 

	 	Revolution Acceleration Acquisition Corp
	 	1717 Rhode Island Avenue, NW 10th floor
	 	Washington, D.C. 20036
	 	Attention:	John K. Delaney
	 	Email: 	 

 

    14

     

    

 

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

 

	 	Skadden, Arps, Slate, Meagher & Flom LLP
	 	One Manhattan West
	 	New York, New York 10001
	 	Attention:	Blair T. Thetford
	 	 	P. Michelle Gasaway
	 	Email: 	 
	 	 	 

 

and

 

	 	Berkshire Grey, Inc.
	 	140 South Road.
	 	Bedford, MA 01730
	 	Attention: 	Christian Ehrbar
	 	 	Scott D’Amour
	 	 	Mark Fidler
	 	Email: 	 
	 	 	 
	 	 	 

 

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

 

	 	Goodwin Procter LLP
	 	100 Northern Avenue
	 	Boston, MA 02210
	 	Attention:	Jocelyn M. Arel
	 	 	Dan Espinoza
	 	 	Mark S. Opper
	 	Email:	 
	 	 	 
	 	 	 

 

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]

 

    15

     

    

 

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: ________, 2021
	 	 	 
	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 RAAC in the Closing
Notice.

 

[Signature Page to Subscription Agreement]

 

     

     

    

 

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

 

	 	REVOLUTION ACCELERATION ACQUISITION CORP
	 	 
	 	By:	      
	 	 	Name: 	John K. Delaney
	 	 	Title:	Chief Executive Officer

 

Date: February 23, 2021

[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]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00322-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00322-of-00352.parquet"}]]