Document:

Exhibit 10.5 

 

Novus Capital Corporation II

8556 Oakmont Lane

Indianapolis, IN 46260

 

October 12, 2021

 

______________________

______________________

______________________

 

		RE:	Securities Subscription Agreement

 

Ladies and Gentlemen:

 

Novus Capital Corporation
II a Delaware corporation (the “Company”), is pleased to accept the offer ______________ (the “Subscriber”
or “you”), has made to purchase _______ shares of the Company’s Class B common stock (the “Shares”),
$0.0001 par value per share (the “Class B Common Stock”). For the purposes of this Agreement (this “Agreement”),
references to “Common Stock” are to, collectively, the Class B Common Stock and the Company’s Class A
common stock, $0.0001 par value per share (the “Class A Common Stock”). Pursuant to the Company’s certificate
of incorporation, as amended to the date hereof (the “Charter”), shares of Class B Common Stock will automatically
convert into shares of Class A Common Stock on a one-for-one basis, subject to adjustment, upon the terms and conditions set forth
in the Charter. Unless the context otherwise requires, as used herein “Securities” shall refer to the Shares
and shall be deemed to include any shares of Class A Common Stock issued upon conversion of the Shares. The terms on which the
Company is willing to sell the Shares to the Subscriber, and the Company and the Subscriber’s agreements regarding such Shares,
are as follows:

 

1.               
Purchase of Shares.

 

For the sum of $________
(the “Purchase Price”), which the Company acknowledges has been remitted at the Company’s direction for
offering costs, the Company hereby sells and issues the Shares to the Subscriber, and the Subscriber hereby purchases the Shares
from the Company on the terms and subject to the conditions set forth in this Agreement. Concurrently with the Subscriber’s
execution of this Agreement, the Company shall, at its option, deliver to the Subscriber a certificate registered in the Subscriber’s
name representing the Shares or effect such delivery in book-entry form.

 

2.               
Representations, Warranties and Agreements

 

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

 

    

     

    

 

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

 

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

 

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

 

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

 

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

 

    2

     

    

 

2.1.6       
 Private Placement. The Subscriber represents that it is an “accredited investor” as such term is defined
in Rule 501(a) of Regulation D under the Securities Act of 1933, as amended (the “Securities Act”), and acknowledges
the sale contemplated hereby is being made in reliance on a private placement exemption applicable to “accredited investors”
within the meaning of Section 501(a) of Regulation D under the Securities Act or similar exemptions under state law.

 

2.1.7       
Investment Purposes. The Subscriber is purchasing the Securities solely for investment purposes, for the Subscriber’s
own account and not for the account or benefit of any other person, and not with a view towards the distribution or dissemination
thereof. The Subscriber did not decide to enter into this Agreement as a result of any general solicitation or general advertising
within the meaning of Rule 502 under the Securities Act.

 

2.1.8       
Restrictions on Transfer; Shell Company. The Subscriber understands the Securities are being offered in a transaction
not involving a public offering within the meaning of the Securities Act. The Subscriber understands the Securities will be “restricted
securities” within the meaning of Rule 144(a)(3) under the Securities Act and the Subscriber understands that the certificates
or book-entries representing the Securities will contain a legend in respect of such restrictions. If in the future the Subscriber
decides to offer, resell, pledge or otherwise transfer the Securities, such Securities may be offered, resold, pledged or otherwise
transferred only pursuant to: (i) registration under the Securities Act, or (ii) an available exemption from registration. The
Subscriber agrees that if any transfer of its Securities or any interest therein is proposed to be made, as a condition precedent
to any such transfer, the Subscriber may, at the Company’s option, be required to deliver to the Company an opinion of counsel
satisfactory to the Company. Absent registration or an exemption, the Subscriber agrees not to resell the Securities. The Subscriber
further acknowledges that because the Company is a shell company, Rule 144 may not be available to the Subscriber for the resale
of the Shares until at least one year following consummation of the initial business combination of the Company (which may not
occur), despite technical compliance with the requirements of Rule 144 and the release or waiver of any contractual transfer restrictions.

 

2.1.9       
No Governmental Consents. No governmental, administrative or other third party consents or approvals are required,
necessary or appropriate on the part of the Subscriber in connection with the transactions contemplated by this Agreement.

 

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

 

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

 

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

 

    3

     

    

 

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

 

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

 

2.2.5      
Authorization. The shares of Class A Common Stock issuable upon conversion of the Shares have been duly authorized
and reserved for issuance upon such conversion.

 

3.               
Forfeiture of Shares.

 

3.1             
Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters
of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees
of Shares) shall automatically forfeit at the time such Over-allotment Option expires (or earlier if the underwriters of the IPO
waive their ability to exercise such Over-allotment Option) any and all rights to such number of Shares (up to an aggregate of
________ Shares (the “Maximum Forfeited Shares”) and pro rata based upon the percentage of the Over-allotment
Option exercised). For the voidance of doubt, the number of Shares to be forfeited shall be equal to (i) the Maximum Forfeited
Shares minus (ii) the product of (a) the Maximum Forfeited Shares multiplied by a fraction, the numerator of which is the number
of Units for which the Over-allotment Option is exercised and the denominator of which is 3,750,000 Units.

 

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

 

3.3              Share
Certificates. In the event an adjustment to the Original Certificates, if any, is required pursuant to this Section 3,
then the Subscriber shall return such Original Certificates to the Company or its designated agent as soon as practicable
upon its receipt of notice from the Company advising the Subscriber of such adjustment, following which a new certificate
(the “New Certificate”), if any, shall be issued in such amount representing the adjusted number of Shares
held by the Subscriber. The New Certificate, if any, shall be returned to the Subscriber as soon as practicable. Any such
adjustment for any uncertificated securities held by the Subscriber shall be made in book-entry form.

 

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4.                
Waiver of Liquidation Distributions; Redemption Rights. In connection with the Shares purchased pursuant to this
Agreement, the Subscriber hereby waives any and all right, title, interest or claim of any kind in or to any distributions by the
Company from the trust account which will be established for the benefit of the Company’s public stockholders and into which
substantially all of the proceeds of the Company’s initial public offering (the “IPO”) will be deposited (the
 “Trust Account”), in the event of a liquidation of the Company upon the Company’s failure to timely complete
an initial business combination. For purposes of clarity, in the event the Subscriber purchases securities in the IPO or in the
aftermarket, any shares of Class A Common Stock so purchased shall be eligible to receive any liquidating distributions by the
Company. However, in no event will the Subscriber have the right to redeem any shares of Common Stock held by it into funds held
in the Trust Account upon the successful completion of an initial business combination. For the avoidance of doubt, the foregoing
shall not restrict the right of any affiliate of the Subscriber to redeem any shares of Class A Common Stock purchased in the IPO
or aftermarket by such affiliate of the Subscriber.

 

5.                
Restrictions on Transfer.

 

5.1             
Securities Law Restrictions. In addition to any restrictions to be contained in that certain letter agreement (commonly
known as an “Insider Letter”) dated on or prior to the closing of the IPO by and among the Subscriber, the Company
and other parties thereto, the Subscriber agrees not to sell, transfer, pledge, hypothecate or otherwise dispose of all or any
part of the Securities unless, prior thereto (a) a registration statement on the appropriate form under the Securities Act and
applicable state securities laws with respect to the Securities proposed to be transferred shall then be effective or (b) the Company
has received, if requested by the Company, an opinion from counsel reasonably satisfactory to the Company, that such registration
is not required because such transaction is exempt from registration under the Securities Act and the rules promulgated by the
Securities and Exchange Commission thereunder and with all applicable state securities laws.

 

5.2             
Lock-up. The Subscriber acknowledges that the Securities will be subject to lock-up provisions (the “Lock-up”)
contained in the Insider Letter. Pursuant to the Insider Letter, the Subscriber will agree (subject to certain customary exceptions)
not to sell, transfer, pledge, hypothecate or otherwise dispose of all or any part of the Securities until the earlier to occur
of: (a) one year after the completion of the Company’s initial business combination, (b) if the last sale price of the Class
A Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations
and the like) for any 20 trading days within any 30-trading day period commencing after the Company’s initial business combination
and (c) the date on which the Company consummates a liquidation, merger, capital stock exchange, reorganization or other similar
transaction after the Company’s initial business combination that results in all of the Company’s stockholders having
the right to exchange their shares of Common Stock for cash, securities or other property.

 

5.3             
Restrictive Legends. All certificates representing the Securities shall have endorsed thereon legends substantially
as follows:

 

    5

     

    

 

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

 

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

 

5.4             
Additional Shares or Substituted Securities. In the event of the declaration of a share dividend, the declaration
of an extraordinary dividend payable in a form other than Common Stock, a spin-off, a share split, an adjustment in conversion
ratio, a recapitalization or a similar transaction affecting the Company’s outstanding Common Stock without receipt of consideration,
any new, substituted or additional securities or other property which are by reason of such transaction distributed with respect
to any Securities subject to this Section 4 or into which such Securities thereby become convertible shall immediately be subject
to this Section 5. Appropriate adjustments to reflect the distribution of such securities or property shall be made to the number
and/or class of Securities subject to this Section 5.

 

5.5             
Registration Rights. The Subscriber acknowledges that the Shares are being purchased pursuant to an exemption from
the registration requirements of the Securities Act and will become freely tradable only after certain conditions are met or they
are registered pursuant to a registration rights agreement to be entered into with the Company prior to the closing of the IPO
(the “Registration Rights Agreement”).

 

6.               
Other Agreements.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

6.8             
Governing Law. This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance
with and governed by the laws of the State of Delaware applicable to contracts wholly performed within the borders of such state.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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6.16           
Mutual Drafting. This Agreement is the joint product of the Subscriber and the Company and each provision hereof
has been subject to the mutual consultation, negotiation and agreement of such parties and shall not be construed for or against
any party hereto.

 

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

 

8.               
Indemnification. Each party shall indemnify the other against any loss, cost or damages (including reasonable attorney’s
fees and expenses) incurred as a result of such party’s breach of any representation, warranty, covenant or agreement in
this Agreement.

 

[Signature Page Follows]

 

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

 

	 	Very truly yours,
	 
	 	Novus Capital Corporation
	 
	 	By:	      
	 	Name:	 
	 	Title:	 

 

Subscriber:

 

_________________________________

 

By: _______________________________

Name:

Title:

 

[Signature Page to Securities Subscription Agreement]Exhibit 10.8

 

 

PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT

 

THIS PRIVATE PLACEMENT WARRANTS
PURCHASE AGREEMENT (as it may from time to time be amended and including all exhibits referenced herein, this
 “Agreement”), dated as of [•], 2021, is entered into by and between Novus Capital Corporation
II, a Delaware corporation (the “Company”), and Novus Capital Associates, LLC, a Delaware limited
liability company (the “Purchaser”).

 

WHEREAS, the Company intends to
consummate an initial public offering of the Company’s units (the “Public Offering”), each
unit consisting of one share of Class A common stock of the Company, par value $0.0001 per share (a
 “Share”), and one-third of one redeemable warrant, each whole warrant entitling the holder
to purchase one Share at an exercise price of $11.50 per Share, as set forth in the Company’s Registration Statement on
Form S-1, filed with the U.S. Securities and Exchange Commission (the “Registration
Statement”), under the Securities Act of 1933, as amended (the “Securities Act”).

 

WHEREAS, the Purchaser has agreed to
purchase, at a price of $1.50 per warrant, an aggregate of 1,666,666 warrants (the “Private Placement
Warrants”), each Private Placement Warrant entitling the holder to purchase one Share at an exercise price of
$11.50 per Share.

 

NOW THEREFORE, in consideration of the mutual
promises contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties to this Agreement hereby, intending legally to be bound, agree as follows:

 

AGREEMENT

 

Section 1.              Authorization,
Purchase and Sale; Terms of the Private Placement Warrants.

 

A.           Authorization
of the Private Placement Securities. The Company has duly authorized the issuance and sale of the Private Placement Warrants
and, subject to proper exercise of the Private Placement Warrants and against payment therefor, the Shares underlying such Private
Placement Warrants, to the Purchaser.

 

B.           Purchase
and Sale of the Private Placement Warrants. On the date of the consummation of the Public Offering or on such earlier
time and date as may be mutually agreed by the Purchaser and the Company (the “IPO Closing Date”),
the Company shall issue and sell to the Purchaser, and the Purchaser shall purchase from the Company, 1,666,666 Private
Placement Warrants at a price of $1.50 per Private Placement Warrant for an aggregate purchase price of $2,500,000 (the
 “Purchase Price”). The Purchaser shall pay, at least one (1) business day prior to the IPO
Closing Date, the Purchase Price by wire transfer of immediately available funds, to accounts designated by the Company,
including to the trust account (the “Trust Account”), at a financial institution to be chosen by
the Company, maintained by Continental Stock Transfer & Trust Company, acting as trustee, in accordance with the
Company’s wiring instructions. On the IPO Closing Date, subject to receipt of funds pursuant to the immediately prior
sentence, the Company shall effect such delivery in book-entry form.

 

     

     

    

 

C.           Terms
of the Private Placement Warrants.

 

(i)            The
Private Placement Warrants are substantially identical to the Warrants included in the units to be offered in the Public Offering
except that (a) the Private Placement Warrants will not, except in limited circumstances, be transferable or salable until
30 days after the completion of the Company’s initial business combination (the “Business Combination”)
so long as they are held by the Purchaser or its permitted transferees, and (b) the Private Placement Warrants are being purchased
pursuant to an exemption from the registration requirements of the Securities Act and will become freely tradable only after the
expiration of the lockup described above in clause (a) and they are registered pursuant to the Registration Rights Agreement
(as defined below) or an exemption from registration is available, and the restrictions described above in clause (a) have
expired and (c) each Private Placement Warrant shall have the terms set forth for private placement warrants in a Warrant
Agreement to be entered into by the Company and a warrant agent in connection with the Public Offering (the “Warrant
Agreement”).

 

(ii)           On
or prior to the IPO Closing Date, the Company and the Purchaser shall enter into a registration rights agreement (the “Registration
Rights Agreement”) pursuant to which the Company will grant certain registration rights to the Purchaser relating
to the Private Placement Warrants and the Shares underlying the Private Placement Warrants.

 

Section 2.              Representations
and Warranties of the Company.

 

As a material inducement to the Purchaser
to enter into this Agreement and purchase the Private Placement Warrants the Company hereby represents and warrants to the Purchaser
(which representations and warranties shall survive each Closing Date) that:

 

A.           Incorporation
and Corporate Power. The Company is a corporation duly incorporated, validly existing and in good standing under the laws of
the State of Delaware and is qualified to do business in every jurisdiction in which the failure to so qualify would reasonably
be expected to have a material adverse effect on the financial condition, operating results or assets of the Company. The Company
possesses all requisite corporate power and authority necessary to carry out the transactions contemplated by this Agreement and
the Warrant Agreement.

 

B.           Authorization;
No Breach.

 

(i)            The
execution, delivery and performance of this Agreement and the Private Placement Warrants, and subject to proper exercise of the
Private Placement Warrants and against payment therefor, the Shares underlying such Private Placement Warrants, have been duly
authorized by the Company. This Agreement constitutes the valid and binding obligation of the Company, enforceable in accordance
with its terms, subject to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general
applicability relating to or affecting creditors’ rights and to general equitable principles (whether considered in a proceeding
in equity or law). Upon issuance in accordance with, and payment pursuant to, the terms of the Warrant Agreement (as applicable)
and this Agreement, the Private Placement Warrants will constitute valid and binding obligations of the Company, enforceable in
accordance with their terms as of each Closing Date.

 

    	 	2	 

     

    

 

(ii)           The
execution and delivery by the Company of this Agreement and the Private Placement Warrants, the issuance and sale of the Private
Placement Warrants and the Shares upon exercise of the Private Placement Warrants and the fulfillment of and compliance with the
respective terms hereof and thereof by the Company, do not and will not as of each Closing Date (a) conflict with or result
in a breach of the terms, conditions or provisions of, (b) constitute a default under, (c) result in the creation of
any lien, security interest, charge or encumbrance upon the Company’s share capital or assets under, (d) result in a
violation of, or (e) require any authorization, consent, approval, exemption or other action by or notice or declaration to,
or filing with, any court or administrative or governmental body or agency pursuant to the Company’s certificate of incorporation
(the “Charter”) and bylaws (the “Bylaws”) or any material law, statute, rule or regulation to which
the Company is subject, or any agreement, order, judgment or decree to which the Company is subject, except for any filings required
after the date hereof under federal or state securities laws.

 

C.           Title
to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement (as applicable),
the Shares issuable upon exercise of the Private Placement Warrants will be duly and validly issued, fully paid and nonassessable.
On the date of issuance of the Private Placement Warrants the Shares issuable upon exercise of the Private Placement Warrants shall
have been reserved for issuance. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement
(as applicable), the Purchaser will have good title to the Private Placement Warrants and the Shares issuable upon exercise of
the Private Placement Warrants, free and clear of all liens, claims and encumbrances of any kind, other than (i) transfer
restrictions hereunder and under the other agreements contemplated hereby, (ii) transfer restrictions under federal and state
securities laws, and (iii) liens, claims or encumbrances imposed due to the actions of the Purchaser.

 

D.           Governmental
Consents. Assuming the accuracy of the representations and warranties made by the Purchaser in this Agreement, no consent,
approval, order or authorization of, or registration, qualification, designation, declaration or filing with, any federal, state
or local governmental authority is required on the part of the Company in connection with the consummation of the transactions
contemplated by this Agreement, except for applicable requirements of the Securities Act.

 

Section 3.              Representations
and Warranties of the Purchaser.

 

As a material inducement to the Company
to enter into this Agreement and issue and sell the Private Placement Warrants to the Purchaser, the Purchaser hereby represents
and warrants to the Company (which representations and warranties shall survive each Closing Date) that:

 

A.          Organization
and Requisite Authority. The Purchaser possesses all requisite power and authority necessary to carry out the transactions
contemplated by this Agreement.

 

    	 	3	 

     

    

 

B.           Authorization;
No Breach.

 

(i)            This
Agreement constitutes a valid and binding obligation of the Purchaser, enforceable in accordance with its terms, subject to bankruptcy,
insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general applicability relating to or affecting
creditors’ rights and to general equitable principles (whether considered in a proceeding in equity or law).

 

(ii)           The
execution and delivery by the Purchaser of this Agreement and the fulfillment of and compliance with the terms hereof by the Purchaser
do not and shall not as of each Closing Date (a) conflict with or result in a breach by the Purchaser of the terms, conditions
or provisions of, (b) constitute a default under, (c) result in the creation of any lien, security interest, charge or
encumbrance upon the Purchaser’s equity or assets under, (d) result in a violation of, or (e) require any authorization,
consent, approval, exemption or other action by or notice or declaration to, or filing with, any court or administrative or governmental
body or agency pursuant to the Purchaser’s organizational documents in effect on the date hereof or as may be amended prior
to completion of the contemplated Public Offering, or any material law, statute, rule or regulation to which the Purchaser
is subject, or any agreement, instrument, order, judgment or decree to which the Purchaser is subject, except for any filings required
after the date hereof under federal or state securities laws.

 

C.           Investment
Representations.

 

(i)            The
Purchaser is acquiring the Private Placement Warrants, and, upon exercise of the Private Placement Warrants, the Shares issuable
upon such exercise (collectively, the “Securities”) for its own account, for investment purposes only
and not with a view towards, or for resale in connection with, any public sale or distribution thereof.

 

(ii)           The
Purchaser understands that the Securities are being offered and will be sold to it in reliance on specific exemptions from the
registration requirements of the United States federal and state securities laws and that the Company is relying upon the truth
and accuracy of, and the Purchaser’s compliance with, the representations and warranties of the Purchaser set forth herein
in order to determine the availability of such exemptions and the eligibility of the Purchaser to acquire such Securities.

 

(iii)          The
Purchaser is an “accredited investor” as such term is defined in Rule 501(a)(3) of Regulation D under the
Securities Act, and the Purchaser has not experienced a disqualifying event as enumerated pursuant to Rule 506(d) of
Regulation D under the Securities Act. The Purchaser did not decide to enter into this Agreement as a result of any general solicitation
or general advertising within the meaning of Rule 502(c) of Regulation D under the Securities Act.

 

(iv)          The
Purchaser has been furnished with all materials relating to the business, finances and operations of the Company and materials
relating to the offer and sale of the Securities which have been requested by the Purchaser. The Purchaser has been afforded the
opportunity to ask questions of the executive officers and directors of the Company. The Purchaser understands that its investment
in the Securities involves a high degree of risk and it has sought such accounting, legal and tax advice as it has considered necessary
to make an informed investment decision with respect to the acquisition of the Securities.

 

    	 	4	 

     

    

 

(v)           The
Purchaser understands that no United States federal or state agency or any other government or governmental agency has passed on
or made any recommendation or endorsement of the Securities or the fairness or suitability of the investment in the Securities
by the Purchaser nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

 

(vi)          The
Purchaser understands that: (a) the Securities have not been and are not being registered under the Securities Act or any
state securities laws, and may not be offered for sale, sold, assigned or transferred unless (1) subsequently registered thereunder
or (2) sold in reliance on an exemption therefrom; (b) except as specifically set forth in the Registration Rights Agreement,
neither the Company nor any other person is under any obligation to register the Securities under the Securities Act or any state
securities laws or to comply with the terms and conditions of any exemption thereunder; and (c) Rule 144 adopted pursuant
to the Securities Act will not be available for resale transactions of Securities prior to a Business Combination and may not be
available for resale transactions of Securities after a Business Combination.

 

(vii)         The
Purchaser has such knowledge and experience in financial and business matters, knowledge of the high degree of risk associated
with investments in the securities of companies in the development stage such as the Company, is capable of evaluating the merits
and risks of an investment in the Securities and is able to bear the economic risk of an investment in the Securities in the amount
contemplated hereunder for an indefinite period of time. The Purchaser has adequate means of providing for its current financial
needs and contingencies and will have no current or anticipated future needs for liquidity which would be jeopardized by the investment
in the Securities. The Purchaser can afford a complete loss of its investments in the Securities.

 

(viii)        The
Purchaser understands that the Private Placement Warrants shall bear the legend substantially in the form set forth in the Warrant
Agreement and be subject to appropriate “stop transfer restrictions”.

 

Section 4.              Conditions
of the Purchaser’s Obligations.

 

The obligations of the Purchaser to purchase
and pay for the Private Placement Warrants are subject to the fulfillment, on or before each Closing Date, of each of the following
conditions:

 

A.           Representations
and Warranties. The representations and warranties of the Company contained in Section 2 shall be true and correct at
and as of such Closing Date as though then made.

 

B.           Performance.
The Company shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by it on or before such Closing Date.

 

C.           No
Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory
organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions
contemplated by this Agreement or the Warrant Agreement.

 

D.           Warrant
Agreement and Registration Rights Agreement. The Company shall have entered into the Warrant Agreement and the Registration
Rights Agreement, in each case on terms satisfactory to the Purchaser.

 

    	 	5	 

     

    

 

Section 5.              Conditions
of the Company’s Obligations.

 

The obligations of the Company to the Purchaser
under this Agreement are subject to the fulfillment, on or before each Closing Date, of each of the following conditions:

 

A.           Representations
and Warranties. The representations and warranties of the Purchaser contained in Section 3 shall be true and correct at
and as of such Closing Date as though then made.

 

B.           Performance.
The Purchaser shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by the Purchaser on or before such Closing Date.

 

C.           Corporate
Consents. The Company shall have obtained the consent of its Board of Directors authorizing the execution, delivery and performance
of this Agreement and the Warrant Agreement and the issuance and sale of the Private Placement Warrants, hereunder.

 

D.           No
Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory
organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions
contemplated by this Agreement or the Warrant Agreement.

 

E.           Warrant
Agreement. The Company shall have entered into the Warrant Agreement.

 

Section 6.              Termination.

 

This Agreement may be terminated at any
time after January 31, 2021 upon the election by either the Company or the Purchaser upon written notice to the other party
if the closing of the Public Offering has not occurred prior to such date.

 

Section 7.              Survival
of Representations and Warranties.

 

All of the representations and warranties
contained herein shall survive the applicable Closing Date.

 

Section 8.              Definitions.

 

Terms used but not otherwise defined in
this Agreement shall have the meaning assigned to such terms in the Registration Statement.

 

    	 	6	 

     

    

 

Section 9.              Miscellaneous.

 

A.          Successors
and Assigns. Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement by or
on behalf of any of the parties hereto shall bind and inure to the benefit of the respective successors of the parties hereto whether
so expressed or not. Notwithstanding the foregoing or anything to the contrary herein, the parties may not assign this Agreement,
other than assignments by the Purchaser to affiliates thereof (including, without limitation one or more of its members).

 

B.          Severability.
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall be
ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement.

 

C.          Counterparts.
This Agreement may be executed simultaneously in two or more counterparts, none of which need contain the signatures of more than
one party, but all such counterparts taken together shall constitute one and the same agreement. Signatures to this Agreement transmitted
via facsimile or e-mail shall be valid and effective to bind the party so signing.

 

D.          Descriptive
Headings; Interpretation. The descriptive headings of this Agreement are inserted for convenience only and do not constitute
a substantive part of this Agreement. The use of the word “including” in this Agreement shall be by way of example
rather than by limitation.

 

E.           Governing
Law. This Agreement shall be deemed to be a contract made under the laws of the State of New York and for all purposes shall
be construed in accordance with the internal laws of the State of New York.

 

F.           Amendments.
This Agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed by
the parties hereto.

 

[Signature page follows]

 

    	 	7	 

     

    

 

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

 

	 	COMPANY:
	 	 
	 	NOVUS CAPITAL CORPORATION II
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

	 	PURCHASER:
	 	 
	 	NOVUS CAPITAL ASSOCIATES, LLC
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

 

[Signature Page to Private Placement
Warrants Purchase Agreement]

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