Document:

Exhibit
10.1

 

PROMISSORY
NOTE

 

	Not to Exceed
    $200,000	March
    18, 2021

 

FOR
VALUE RECEIVED, Concord Acquisition Corp II, a Delaware corporation (“Maker” or the “Company”), hereby
unconditionally promises to pay to the order of Concord Sponsor Group II LLC, a Delaware limited liability company (“Payee”),
the sum of TWO HUNDRED THOUSAND DOLLARS ($200,000) or such lesser amount as shall have been advanced by Payee to Maker and shall
remain unpaid under this note (this “Note”), in legal and lawful money of the United States of America.

 

Payee
may make advances to Maker from time to time under this Note; provided, however, that notwithstanding anything to the contrary
herein, at no time shall the aggregate of all advances and re-advances outstanding under this Note exceed $200,000.

 

This
is a non-interest bearing Note.

 

The
entire unpaid principal balance of this Note shall be due and payable upon the earlier of July 31, 2021 or the consummation of
a public offering of the Company’s securities.

 

If
payment of this Note or any installment of this Note is not made when due, the entire indebtedness hereunder, at the option of
Payee, shall immediately become due and payable, and Payee shall be entitled to pursue any or all remedies to which Payee is entitled
hereunder, or at law or in equity.

 

This
Note may be prepaid, in whole or in part, without penalty. This Note may not be changed, amended or modified except in a writing
expressly intended for such purpose and executed by the party against whom enforcement of the change, amendment or modification
is sought. The loan evidenced by this Note is made solely for business purposes.

 

THIS
NOTE IS BEING EXECUTED AND DELIVERED, AND IS INTENDED TO BE PERFORMED, IN THE STATE OF NEW YORK. EXCEPT TO THE EXTENT THAT THE
LAWS OF THE UNITED STATES MAY APPLY TO THE TERMS HEREOF, THE SUBSTANTIVE LAWS OF THE STATE OF NEW YORK SHALL GOVERN THE VALIDITY,
CONSTRUCTION, ENFORCEMENT AND INTERPRETATION OF THIS NOTE. IN THE EVENT OF A DISPUTE INVOLVING THIS NOTE OR ANY OTHER INSTRUMENTS
EXECUTED IN CONNECTION HEREWITH, THE UNDERSIGNED PARTIES IRREVOCABLY AGREE THAT VENUE FOR SUCH DISPUTE SHALL LIE IN ANY COURT
OF COMPETENT JURISDICTION IN THE STATE OF NEW YORK.

 

Service
of any notice by Maker to Payee or by Payee to Maker, shall be mailed, postage prepaid by certified United States mail, return
receipt requested, at the address for such party set forth in this Note, or at such subsequent address provided to the other party
hereto in the manner set forth in this paragraph for all notices. Any such notice shall be deemed given three (3) days after deposit
thereof in an official depository under the care and custody of the United States Postal Service.

     

     

    

Should
the indebtedness represented by this Note or any part thereof be collected at law or in equity or through any bankruptcy, receivership,
probate or other court proceedings or if this Note is placed in the hands of attorneys for collection after default, the undersigned
and all endorsers, guarantors and sureties of this Note jointly and severally agree to pay to the holder of this Note, in addition
to the principal and interest due and payable hereon, reasonable attorneys’ and collection fees.

 

The
undersigned and all endorsers, guarantors and sureties of this Note and all other persons liable or to become liable on this Note
severally waive presentment for payment, demand, notice of demand and of dishonor and nonpayment of this Note, notice of intention
to accelerate the maturity of this Note, notice of acceleration, protest and notice of protest, diligence in collecting, and the
bringing of suit against any other party, and agree to all renewals, extensions, modifications, partial payments, releases or
substitutions of security, in whole or in part, with or without notice, before or after maturity.

 

The
undersigned hereby expressly and unconditionally waives, in connection with any suit, action or proceeding brought by the payee
on this Note, any and every right it may have to (i) injunctive relief, (ii) a trial by jury, (iii) interpose any counterclaim
therein and (iv) have the same consolidated with any other or separate suit, action or proceeding. Nothing herein contained shall
prevent or prohibit the undersigned from instituting or maintaining a separate action against payee with respect to any asserted
claim.

 

Any
provision contained in this Notes which is prohibited or unenforceable in any jurisdictions shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any
such prohibitions or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other
jurisdiction.

 

This
Note represents the final agreement between the parties and may not be contradicted by evidence of prior, contemporaneous or subsequent
oral agreements of the parties.

 

[Signature
page follows]

    2

     

    

EXECUTED
AND AGREED as of the date first above written.

 

	 	CONCORD
ACQUISITION CORP II, a Delaware corporation 

	 	 	 
	 	By:	/s/
        Michele Cito
	 	Name:	Michele Cito
	 	Title: 	CFO

 

[Signature
Page to Promissory Note]Exhibit
10.2

 

[•],
2021

 

Concord
Acquisition Corp II 

477
Madison Avenue

New York, NY 10022

 

	Re:	Initial Public Offering

 

Ladies
and Gentlemen:

 

This
letter (this “Letter Agreement”) is being delivered to you in accordance with the Underwriting Agreement
(the “Underwriting Agreement”) by and between Concord Acquisition Corp II, a Delaware corporation (the
 “Company”), and Citigroup Global Markets Inc. and Cowen and Company, LLC, as the representatives (the
 “Representatives”) of the several underwriters named therein (each an “Underwriter”
and collectively, the “Underwriters”), relating to an underwritten initial public offering (the “Public
Offering”), of up to 28,750,000 of the Company’s units (including up to 3,750,000 units that may be purchased
to cover the Underwriters’ option to purchase additional units, if any) (the “Units”), each comprised
of one share of Class A common stock of the Company, par value $0.0001 per share (“Class A Common Stock”),
and one-third of one redeemable warrant (each whole warrant, a “Warrant”). Each Warrant entitles the
holder thereof to purchase one share of Class A Common Stock at a price of $11.50 per share, subject to adjustment. The Units
will be sold in the Public Offering pursuant to a registration statement on Form S-1 and prospectus (the “Prospectus”)
filed by the Company with the Securities and Exchange Commission (the “Commission”). Certain capitalized
terms used herein are defined in paragraph 11 hereof.

 

In
order to induce the Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the Public Offering
and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Concord Sponsor Group
II LLC, a Delaware limited liability company (the “Sponsor”), CA2 Co-Investment LLC, a Delaware limited
liability company (“Cowen Investments” and together with the Sponsor, the “Holders”),
and the other undersigned persons (each such other undersigned persons, an “Insider” and collectively,
the “Insiders”), each hereby agrees, severally but not jointly, with the Company as follows:

 

1.
The Sponsor, Cowen Investments and each Insider agree that if the Company seeks stockholder approval of a proposed Business Combination,
then in connection with such proposed Business Combination, it, he or she shall (i) vote any Shares owned by it, him or her
in favor of any proposed Business Combination (including any proposals recommended by the Company’s Board of Directors in
connection with such Business Combination) and (ii) not redeem any Shares owned by it, him or her in connection with such
stockholder approval. If the Company seeks to consummate a proposed Business Combination by engaging in a tender offer, the Sponsor,
Cowen Investment and each Insider agrees that it, he or she will not sell or tender any Shares owned by it, him or her in connection
therewith.

 

2. The Sponsor, Cowen Investments and each Insider
agree that in the event that the Company fails to consummate a Business Combination within 24 months from the closing of the Public Offering,
or such later period as may be approved by the Company’s stockholders in accordance with the Company’s amended and restated
certificate of incorporation, the Sponsor, Cowen Investments and each Insider shall take all reasonable steps to cause the Company to
(i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than 10 business
days thereafter, subject to lawfully available funds therefor, redeem 100% of the shares of Class A Common Stock sold as part of the
Units in the Public Offering (the “Offering Shares”), at a per share price, payable in cash, equal to the aggregate
amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released
to the Company to pay its taxes (which interest shall be net of taxes payable and less up to $100,000 of interest to pay dissolution
expenses), divided by the number of then outstanding Offering Shares, which redemption will completely extinguish all Public Stockholders’
rights as stockholders (including the right to receive further liquidating distributions, if any) and (iii) as promptly as reasonably
possible following such redemption, subject to the approval of the Company’s remaining stockholders and the Company’s board
of directors, dissolve and liquidate, subject in each case to the Company’s obligations under Delaware law to provide for claims
of creditors and the other requirements of applicable law. The Sponsor, Cowen Investments and each Insider agree to not propose any amendment
to the Company’s amended and restated certificate of incorporation (A) to modify the substance or timing of the Company’s
obligation to allow redemption in connection with the Company’s initial Business Combination or to redeem 100% of the Offering
Shares if the Company does not complete its initial Business Combination within 24 months from the closing of the Public Offering or
(B) with respect to any other provision relating to stockholders’ rights or pre-initial Business Combination activity, unless the
Company provides its Public Stockholders with the opportunity to redeem their Offering Shares upon approval of any such amendment at
a per share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on
the funds held in the Trust Account and not previously released to the Company to pay its taxes (which interest shall be net of taxes
payable), divided by the number of then outstanding Offering Shares.

     

     

    

The
Sponsor, Cowen Investments and each Insider acknowledge that it, he or she has no right, title, interest or claim of any kind
in or to any monies held in the Trust Account or any other asset of the Company as a result of any liquidation of the Company
with respect to the Founder Shares and Private Placement Shares held by it. The Sponsor, Cowen Investments and each Insider hereby
further waive, with respect to any Shares held by it, him or her, if any, any redemption rights it, he or she may have in connection
with (x) the consummation of a Business Combination, including, without limitation, any such rights available in the context of
a stockholder vote to approve such Business Combination or in the context of a tender offer made by the Company to purchase shares
of Class A Common Stock and (y) a stockholder vote to approve an amendment to the Company’s amended and restated certificate
of incorporation (A) to modify the substance or timing of the Company’s obligation to allow redemptions in connection with
the Company’s initial Business Combination or to redeem 100% of the Offering Shares if the Company has not consummated its
initial Business Combination within 24 months from the closing of the Public Offering or (B) with respect to any other provision
relating to stockholders’ rights or pre-initial Business Combination activity (although the Sponsor, Cowen Investments and
the Insiders shall be entitled to redemption and liquidation rights with respect to any Offering Shares it or they hold if the
Company fails to consummate a Business Combination within 24 months from the date of the closing of the Public Offering).

 

3.
Without limiting Cowen Investments’ obligations under paragraph 7 hereof, during the period commencing on the date of commencement
of sales of the Public Offering and ending 180 days after such date, Cowen Investments shall not sell, transfer, assign, pledge
or hypothecate any of its Founder Shares or Private Placement Warrants (or any shares of Class A Common Stock underlying the Private
Placement Warrants), or subject any of such securities to any hedging, short sale, derivative, put, or call transaction that would
result in the effective economic disposition of such securities, except as provided in FINRA Rule 5110(e)(1), which such restrictions
shall not be subject to release or waiver, with or without the consent of the Representatives, during the period commencing on
the date of commencement of sales of the Public Offering and ending 180 days after such date. Notwithstanding the provisions set
forth in paragraphs 7(a) and (b) below, during the period commencing on the date of commencement of sales of the Public Offering
and ending 180 days after such date, the Sponsor, Cowen Investments and each Insider shall not, without the prior written consent
of the Representatives, (i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option
or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly,
or file with, or submit to, the Commission a registration statement under the Securities Act of 1933, as amended (the “Securities
Act”), relating to any Units, shares of Class A Common Stock, Founder Shares, Warrants or any securities convertible
into, or exercisable, or exchangeable for, any Units, shares of Class A Common Stock, Founder Shares, or Warrants, or publicly
disclose the intention to undertake any of the foregoing, or (ii) enter into any swap or other arrangement that transfers, in
whole or in part, any of the economic consequences of ownership of any Units, shares of Class A Common Stock, Founder Shares,
or Warrants or any such other securities, whether any such transaction described in clause (i) or (ii) above is to be settled
by delivery of units or such other securities, in cash or otherwise; provided, however, that the foregoing does
not apply to the forfeiture of any Founder Shares pursuant to their terms or any transfer of Founder Shares to any current or
future independent director of the company (as long as such current or future independent director transferee is subject to this
Letter Agreement or executes an agreement substantially identical to the terms of this Letter Agreement, as applicable to directors
and officers at the time of such transfer; and as long as, to the extent any Section 16 reporting obligation is triggered as a
result of such transfer, any related Section 16 filing includes a practical explanation as to the nature of the transfer). Each
of the Insiders and the Sponsor acknowledges and agrees that, prior to the effective date of any release or waiver, of the restrictions
set forth in this paragraph 3 or paragraph 7 below, the Company may announce the impending release or waiver by press release
through a major news service at least two business days before the effective date of the release or waiver. The provisions of
this paragraph will not apply if (i) the release or waiver is effected solely to permit a transfer of securities that is not for
consideration and (ii) the transferee has agreed in writing to be bound by the same terms described in this Letter Agreement to
the extent and for the duration that such terms remain in effect at the time of the transfer.

     

     

    

4.
In the event of the liquidation of the Trust Account, the Sponsor (which for purposes of clarification shall not extend to any
other stockholders, members or managers of the Sponsor) agrees to indemnify and hold harmless the Company against any and all
loss, liability, claim, damage and expense whatsoever (including, but not limited to, any and all legal or other expenses reasonably
incurred in investigating, preparing or defending against any litigation, whether pending or threatened, or any claim whatsoever)
to which the Company may become subject as a result of any claim by (i) any third party (other than the Company’s independent
registered public accounting firm) for services rendered or products sold to the Company or (ii) a prospective target business
with which the Company has discussed entering into a transaction agreement (a “Target”); provided,
however, that such indemnification of the Company by the Sponsor shall apply only to the extent necessary to ensure that
such claims by a third party for services rendered (other than the Company’s independent registered public accounting firm)
or products sold to the Company or a Target do not reduce the amount of funds in the Trust Account to below (i) $10.00 per
Offering Share or (ii) such lesser amount per Offering Share held in the Trust Account as of the date of the liquidation of the
Trust Account due to reductions in the value of the trust assets as of the date of the liquidation of the Trust Account, in each
case, net of the amount of interest which may be withdrawn to pay taxes, except as to any claims by a third party who executed
a waiver of any and all rights to seek access to the Trust Account and except as to any claims under the Company’s indemnity
of the Underwriters against certain liabilities, including liabilities under the Securities Act of 1933, as amended. In the event
that any such executed waiver is deemed to be unenforceable against such third party, the Sponsor shall not be responsible to
the extent of any liability for such third party claims. The Sponsor shall have the right to defend against any such claim with
counsel of its choice reasonably satisfactory to the Company if, within 15 days following written receipt of notice of the claim
to the Sponsor, the Sponsor notifies the Company in writing that it shall undertake such defense.

 

5.
(a) To the extent that the Underwriters do not exercise their option to purchase up to an additional 3,750,000 Units within 45
days from the date of the Prospectus (and as further described in the Prospectus), (x) the Sponsor agrees that it shall forfeit,
at no cost, a number of Founder Shares in the aggregate equal to 750,000 multiplied by a fraction, (i) the numerator of which
is 3,750,000 minus the number of Units purchased by the Underwriters upon the exercise of their option to purchase additional
Units and (ii) the denominator of which is 3,750,000 and (y) Cowen Investments agrees that it shall forfeit, at no cost, a number
of Founder Shares in the aggregate equal to 187,500 multiplied by a fraction, (i) the numerator of which is 3,750,000 minus the
number of Units purchased by the Underwriters upon the exercise of their option to purchase additional Units and (ii) the denominator
of which is 3,750,000. All references in this Letter Agreement to Founder Shares of the Company being forfeited shall take effect
as a contribution of such Founder Shares to the Company’s capital as a matter of Delaware law. The forfeiture will be adjusted
to the extent that the option to purchase additional Units is not exercised in full by the Underwriters so that the number of
Founder Shares will equal an aggregate of 20.0% of the Company’s issued and outstanding Shares after the Public Offering.
The Initial Stockholders further agree that to the extent that the size of the Public Offering is increased or decreased, the
Company will effect a capitalization or stock repurchase or redemption, as applicable, immediately prior to the consummation of
the Public Offering in such amount as to maintain the number of Founder Shares at 20.0% of the Company’s issued and outstanding
Shares upon the consummation of the Public Offering. In connection with such increase or decrease in the size of the Public Offering,
then (A) the references to 3,750,000 in the numerator and denominator of the formula in the first sentence of this paragraph
shall be changed to a number equal to 15.0% of the number of shares of Class A Common Stock included in the Units issued in the
Public Offering, (B) the references to 750,000 and 187,500 in the formula set forth in the first sentence of this paragraph shall
be adjusted to, respectively, the total number of Founder Shares that the Sponsor would have to return to the Company in order
for the number of Founder Shares that the Sponsor owns (together with the Insiders) to equal an aggregate of 16.0% of the Company’s
issued and outstanding Shares after the Public Offering and the total number of Founder Shares that Cowen Investments would have
to return to the Company in order for the number of Founder Shares that Cowen Investments owns to equal an aggregate of 4.0% of
the Company’s issued and outstanding Shares after the Public Offering.  

     

     

    

(b)
If, in connection with the closing of a Business Combination, the Sponsor agrees to forfeit any Founder Shares or Private Placement
Warrants (or any shares of Class A Common Stock underlying the Private Placement Warrants) to the Company at no cost or subject
its Founder Shares or Private Placement Warrants (or any shares of Class A Common Stock underlying the Private Placement Warrants)
to contractual terms or restrictions, convert its Founder Shares into other securities or contractual rights or otherwise modify
the terms of its Founder Shares or Private Placement Warrants (each a “Sponsor Modification”), then
Cowen Investments agrees to forfeit, subject, convert or modify its Founder Shares or Private Placement Warrants (or any shares
of Class A Common Stock underlying the Private Placement Warrants) on a pro rata basis and on the same terms as the Sponsor, and
hereby grants to the Company and any representative designated by the Company without further action by Cowen Investments a limited
irrevocable power of attorney to effect such forfeiture or Sponsor Modification on behalf of Cowen Investments, which power of
attorney shall be deemed to be coupled with an interest.

 

6.
The Sponsor, Cowen Investments and each Insider hereby agree and acknowledge that: (i) the Underwriters and the Company would
be irreparably injured in the event of a breach by such Sponsor, Cowen Investments or Insider of its, his or her obligations under
paragraphs 1, 2, 3, 4, 5, 7(a) and 7(b) of this Letter Agreement (ii) monetary damages may not be an adequate remedy for such
breach and (iii) the non-breaching party shall be entitled to seek injunctive relief, in addition to any other remedy that such
party may have in law or in equity, in the event of such breach.

 

7.
(a) The Sponsor, Cowen Investments and each Insider agree that it, he or she shall not Transfer (as defined below) any Founder
Shares (or shares of Class A Common Stock issuable upon conversion thereof) until the earlier of (A) one year after the completion
of the Company’s initial Business Combination and (B) subsequent to the Business Combination, (x) the date on which the
Company completes a liquidation, merger, stock exchange, reorganization or other similar transaction that results in all of the
Public Stockholders having the right to exchange their shares of Class A Common Stock for cash, securities or other property or
(y) if the last reported sale price of the Class A Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits,
stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing
at least 150 days after the Company’s initial Business Combination (the “Founder Shares Lock-Up Period”).

 

(b)
The Sponsor, Cowen Investments and each Insider agree that it, he or she shall not Transfer any Private Placement Warrants, or
any shares of Class A Common Stock issued or issuable upon the conversion or exercise of the Private Placement Warrants, until
30 days after the completion of a Business Combination. 

 

(c)
Notwithstanding the provisions set forth in paragraphs 7(a) and (b), Transfers of the Founder Shares, Private Placement Warrants
and shares of Class A Common Stock issued or issuable upon the exercise or conversion of the Private Placement Warrants or the
Founder Shares and that are held by the Sponsor, Cowen Investments or any Insider or any of their permitted transferees (that
have complied with this paragraph 7(c)), are permitted (a) to the Company’s officers or directors, any affiliates or family
members of any of the Company’s officers or directors, any members of the Holders, or any affiliates of the Holders, (b)
in the case of an individual, by gift to a member of the individual’s immediate family or to a trust, the beneficiary of
which is a member of the individual’s immediate family or an affiliate of such person, or to a charitable organization;
(c) in the case of an individual, by virtue of laws of descent and distribution upon death of the individual; (d) in the case
of an individual, pursuant to a qualified domestic relations order; (e) by private sales or transfers made in connection with
the consummation of the Company’s Business Combination at prices no greater than the price at which the securities were
originally purchased; (f) in the event of the Company’s liquidation prior to the Company’s completion of an initial
Business Combination; (g) by virtue of the laws of the State of Delaware or the Sponsor’s limited liability company agreement,
as amended, upon dissolution of the Sponsor; or (h) in the event of the Company’s completion of a liquidation, merger, stock
exchange, reorganization or other similar transaction which results in all of the Public Stockholders having the right to exchange
their Class A Common Stock for cash, securities or other property subsequent to the Company’s completion of an initial Business
Combination; provided, however, that in the case of clauses (a) through (e), these permitted transferees must enter
into a written agreement with the Company agreeing to be bound by the transfer restrictions and other applicable restrictions
in this Letter Agreement.

 

8.
The Sponsor, Cowen Investments and each Insider represent and warrant that it, he or she has never been suspended or expelled
from membership in any securities or commodities exchange or association or had a securities or commodities license or registration
denied, suspended or revoked. Each Insider’s biographical information furnished to the Company, if any (including any such
information included in the Prospectus), is true and accurate in all respects and does not omit any material information with
respect to such Insider’s background. The Sponsor, Cowen Investments and each Insider’s questionnaire furnished to
the Company, if any, is true and accurate in all respects. The Sponsor, Cowen Investments and each Insider represent and warrant
that: it is not subject to or a respondent in any legal action for, any injunction, cease-and-desist order or order or stipulation
to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction; it has never been convicted
of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any financial transaction or handling of funds of another
person, or (iii) pertaining to any dealings in any securities and it is not currently a defendant in any such criminal proceeding.

     

     

    

9.
Except as disclosed in, or as expressly contemplated by, the Prospectus, neither the Sponsor, Cowen Investments nor any Insider
nor any affiliate of the Sponsor, Cowen Investments or any Insider, nor any director or officer of the Company, shall receive
from the Company any finder’s fee, reimbursement, consulting fee, monies in respect of any repayment of a loan or other
compensation prior to, or in connection with any services rendered in order to effectuate the consummation of the Company’s
initial Business Combination (regardless of the type of transaction that it is).

 

10.
The Sponsor, Cowen Investments and each Insider have full right and power, without violating any agreement to which it is bound
(including, without limitation, any non-competition or non-solicitation agreement with any employer or former employer), to enter
into this Letter Agreement and, as applicable, to serve as an officer and/or a director on the board of directors of the Company
and hereby consents to being named in the Prospectus as an officer and/or a director of the Company.

 

11.
As used herein, (i) “Business Combination” shall mean a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination, involving the Company and one or more businesses; (ii) “Shares”
shall mean, collectively, the Class A Common Stock, the Founder Shares and Class A Common Stock underlying the Private Placement
Warrants; (iii) “Founder Shares” shall mean the 7,187,500 shares of Class B common stock,
par value $0.0001 per share, issued and outstanding immediately prior to the consummation of the Public Offering (up to 937,500
shares of which are subject to complete or partial forfeiture by the Holders to the extent the over-allotment option is not exercised
by the Underwriters); (iv) “Initial Stockholders” shall mean the Sponsor, Cowen Investments and
any Insider that holds Founder Shares; (v) “Private Placement Warrants” shall mean the 5,000,000 warrants
of the Company (or 5,500,000 warrants if the over-allotment option is exercised in full) that the Holders have agreed to purchase
for an aggregate purchase price of $7,500,000 in the aggregate (or $8,250,000 if the over-allotment option is exercised in full),
or $1.50 per warrant, in a private placement that shall occur substantially concurrently with the consummation of the Public Offering;
(vii) “Public Stockholders” shall mean the holders of securities issued in the Public Offering;
(viii) “Trust Account” shall mean the trust fund into which a portion of the net proceeds of the
Public Offering shall be deposited; and (ix) “Transfer” shall mean the (a) sale or assignment
of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase or otherwise dispose of
or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation with
respect to or decrease of a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934,
as amended, and the rules and regulations of the Commission promulgated thereunder with respect to, any security, (b) entry
into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership
of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (c) public
announcement of any intention to effect any transaction specified in clause (a) or (b) herein.

 

12.
This Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter
hereof and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral,
to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement
may not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision,
except by a written instrument executed by (1) each Insider and each Holder that is the subject of any such change, amendment
modification or waiver and (2) the Company.

     

     

    

13.
No party hereto may assign either this Letter Agreement or any of its rights, interests, or obligations hereunder without the
prior written consent of the other parties. Any purported assignment in violation of this paragraph shall be void and ineffectual
and shall not operate to transfer or assign any interest or title to the purported assignee. This Letter Agreement shall be binding
on the Sponsor, Cowen Investments and each Insider and their respective successors, heirs and assigns and permitted transferees.

 

14.
Nothing in this Letter Agreement shall be construed to confer upon, or give to, any person or corporation other than the parties
hereto any right, remedy or claim under or by reason of this Letter Agreement or of any covenant, condition, stipulation, promise
or agreement hereof. All covenants, conditions, stipulations, promises and agreements contained in this Letter Agreement shall
be for the sole and exclusive benefit of the parties hereto and their successors, heirs, personal representatives and assigns
and permitted transferees; provided, however, that the Underwriters shall benefit from the provisions set forth
in paragraph 3, which such paragraphs shall not be amended or modified without the written consent of the Representatives.

 

15.
This Letter Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall
for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.
Counterparts may be delivered via facsimile, electronic mail (including any electronic signature covered by the U.S. federal ESIGN
Act of 2000, Uniform Electronic Transactions Act, the Electronic Signatures and Records Act or other applicable law, e.g., www.docusign.com)
or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid
and effective for all purposes

 

16.
This Letter Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall
not affect the validity or enforceability of this Letter Agreement or of any other term or provision hereof. Furthermore, in lieu
of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this
Letter Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and
enforceable.

 

17.
This Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York. The
parties hereto (i) all agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Letter
Agreement shall be brought and enforced in the courts of New York City, in the State of New York, and irrevocably submit to such
jurisdiction and venue, which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction
and venue or that such courts represent an inconvenient forum.

 

18.
Any notice, consent or request to be given in connection with any of the terms or provisions of this Letter Agreement shall be
in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested),
by hand delivery or facsimile or other electronic transmission.

 

19.
Each party hereto shall not be liable for any breaches or misrepresentations contained in this Letter Agreement by any other party
to this Letter Agreement, and no party shall be liable or responsible for the obligations of another party, including, without
limitation, indemnification obligations and notice obligations.

 

20.
This Letter Agreement shall terminate on the earlier of (i) the expiration of the Founder Shares Lock-Up Period and (ii) the liquidation
of the Company; provided, however, that this Letter Agreement shall earlier terminate in the event that the Public
Offering is not consummated and closed by [•], 2021; provided further that paragraph 4 of this Letter Agreement shall
survive such liquidation.

 

[Signature
page follows]

     

     

    

	 	Sincerely,
	 	 	 
	 	Concord
    Sponsor Group II LLC
	 	 	 
	 	By:	 
	 	 	Name: 	 
	 	 	Title: 	Authorized Signatory 
	 	 	 
	 	CA2
    Co-Investment LLC
	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title: 	Authorized Signatory 

	 	 
	 	Jeff Tuder
	 	 
	 	Michele Cito
	 	 
	 	Bob Diamond
	 	 
	 	Peter Ort
	 	 
	 	Thomas King
	 	 
	 	Larry Leibowitz
	 	 
	 	Henry Helgeson

     

     

    

	Acknowledged and Agreed: 	 
	 	 	 
	Concord
    Acquisition Corp II	 
	 	 	 
	By:	 	 
	Name:  	 	 
	Title:

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