Document:

Exhibit 4.4

 

WARRANT
AGREEMENT

 

This
WARRANT AGREEMENT (this “agreement”) is made as of [DATE], 2020 by and between EdtechX Holdings Acquisition
Corp. II, a Delaware corporation, with offices at c/o IBIS Capital Limited, 22 Soho Square, London W1D 4NS United Kingdom (“Company”),
and Continental Stock Transfer & Trust Company, a New York corporation, with offices at 1 State Street, New York, New
York 10004, as warrant agent (“Warrant Agent”).

 

WHEREAS, the Company
is engaged in a public offering (“Public Offering”) of up to 11,500,000 units, (including 1,500,000 units which
may be issued pursuant to an overallotment option granted to the underwriters of the Company’s Public Offering), each unit
(“Unit”) comprised of one share of Class A common stock of the Company, par value $.0001 per share (“Common
Stock”), and one-half of one warrant, where each whole warrant entitles the holder to purchase one share of Common Stock
at a price of $11.50 per share, subject to adjustment as described herein, and, in connection therewith, will issue and deliver
up to 5,750,000 warrants (the “Public Warrants”) to the public investors in connection with the Public Offering;
and

 

WHEREAS, the Company
has filed with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-1,
No. 333-249098 (“Registration Statement”) and prospectus (the “Prospectus”), for
the registration, under the Securities Act of 1933, as amended (“Act”) of, among other securities, the Public
Warrants; and

 

WHEREAS, the Company
has received binding commitments from certain parties to purchase up to an aggregate of 5,000,000 Warrants (or up to 5,525,000
Warrants if the underwriters’ overallotment option is exercised in full) (the “Private Warrants”) upon
consummation of the Public Offering; and

  

WHEREAS, the Company
may issue up to an additional 1,500,000 Warrants (“Working Capital Warrants”) in satisfaction of certain working
capital loans made by the sponsors or the Company’s officers, directors, initial stockholders, and their affiliates; and

 

WHEREAS,
following consummation of the Public Offering, the Company may issue additional warrants (“Post IPO Warrants”
and together with the Public Warrants, Private Warrants and Working Capital Warrants, the “Warrants”) in connection
with, or following the consummation by the Company of, a Business Combination (defined below); and

 

WHEREAS,
the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection
with the issuance, registration, transfer, exchange, redemption, and exercise of the Warrants; and

 

WHEREAS,
the Company desires to provide for the form and provisions of the Warrants, the terms upon which they shall be issued and exercised,
and the respective rights, limitation of rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants;
and

 

WHEREAS,
all acts and things have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company
and countersigned by or on behalf of the Warrant Agent, as provided herein, the valid, binding, and legal obligations of the Company,
and to authorize the execution and delivery of this Agreement.

 

     

     

    

 

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

 

1. Appointment
of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company for the Warrants, and the
Warrant Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions set forth
in this Agreement.

 

2. Warrants.

 

2.1. Form
of Warrant. Each Warrant shall be issued in registered form only, shall be in substantially the form of Exhibit A hereto,
the provisions of which are incorporated herein and shall be signed by, or bear the facsimile signature of, the Chairman of the
Board of Directors or Chief Executive Officer and Treasurer, Secretary or Assistant Secretary of the Company and shall bear a
facsimile of the Company’s seal. In the event the person whose facsimile signature has been placed upon any Warrant shall
have ceased to serve in the capacity in which such person signed the Warrant before such Warrant is issued, it may be issued with
the same effect as if he or she had not ceased to be such at the date of issuance.

 

2.2. Uncertificated
Warrants. Notwithstanding anything herein to the contrary, any Warrant, or portion thereof, may be issued as part of, and
be represented by, a Unit, and any Warrant may be issued in uncertificated or book-entry form through the Warrant Agent and/or
the facilities of The Depository Trust Company (the “Depositary”) or other book-entry depositary system, in
each case as determined by the Board of Directors of the Company or by an authorized committee thereof. Any Warrant so issued
shall have the same terms, force and effect as a certificated Warrant that has been duly countersigned by the Warrant Agent in
accordance with the terms of this Agreement.

 

2.3. Effect
of Countersignature. Except with respect to uncertificated Warrants as described above, unless and until countersigned by
the Warrant Agent pursuant to this Agreement, a Warrant shall be invalid and of no effect and may not be exercised by the holder
thereof.

 

2.4. Registration.

 

2.4.1. Warrant
Register. The Warrant Agent shall maintain books (“Warrant Register”) for the registration of original
issuance and the registration of transfer of the Warrants. Upon the initial issuance of the Warrants, the Warrant Agent shall
issue and register the Warrants in the names of the respective holders thereof in such denominations and otherwise in accordance
with instructions delivered to the Warrant Agent by the Company. Ownership of beneficial interests in the Public Warrants shall
be shown on, and the transfer of such ownership shall be effected through, records maintained by institutions that have accounts
with the Depositary.

 

2.4.2. Registered
Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent may deem and
treat the person in whose name such Warrant is registered in the Warrant Register (the “registered holder”)
as the absolute owner of such Warrant and of each Warrant represented thereby (notwithstanding any notation of ownership or other
writing on the Warrant certificate made by anyone other than the Company or the Warrant Agent), for the purpose of any exercise
thereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.

 

2.5. Detachability
of Warrants. The securities comprising the Units will not be separately transferable until the 52nd day following
the date of the Prospectus or, if such 52nd day is not on a day, other than a Saturday, Sunday or federal holiday,
on which banks in New York City are generally open for normal business (a “Business Day”), then on the immediately
succeeding Business Day following such date, or earlier with the consent of Jefferies LLC, the representative (the “Representative”)
of the underwriters in the Public Offering (the “Underwirters”), but in no event shall the Representative allow
separate trading of the securities comprising the Units until (i) the Company has filed a Current Report on Form 8-K which
includes an audited balance sheet reflecting the receipt by the Company of the gross proceeds of the Public Offering including
the proceeds received by the Company from the exercise of the underwriters’ option to purchase additional Units in the Public
Offering, if such option is exercised prior to the filing of the Form 8-K, and (ii) the Company has issued a press
release and has filed a Current Report on Form 8-K announcing when such separate trading shall begin (the “Detachment
Date”).

 

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2.6. Private
Warrant and Working Capital Warrant Attributes. The Private Warrants and Working Capital Warrants shall be identical to the
Public Warrants, except that such Warrants (i) shall not be redeemable by the Company and (ii) may be exercised for
cash or on a cashless basis at the holder’s option, in either case as long as they are held by the initial holders or their
Permitted Transferees (as defined in Section 5.6 hereof). Once a Private Warrant or Working Capital Warrant is transferred
to a holder other than a Permitted Transferee, it shall be treated as a Public Warrant hereunder for all purposes.

 

2.7. Post-IPO
Warrants. The Post-IPO Warrants, when and if issued, shall have the same terms and be in the same form as the Public Warrants
except as may be agreed upon by the Company.

 

3. Terms
and Exercise of Warrants

 

3.1. Warrant
Price. Each whole Warrant shall, when countersigned by the Warrant Agent (except with respect to uncertificated Warrants),
entitle the registered holder thereof, subject to the provisions of such Warrant and of this Agreement, to purchase from the Company
the number of shares of Common Stock stated therein, at the price of $11.50 per share, subject to the adjustments provided in
Section 4 hereof and in the last sentence of this Section 3.1. The term “Warrant Price” as used in this
Agreement refers to the price per share at which the shares of Common Stock may be purchased at the time a Warrant is exercised.
The Company in its sole discretion may lower the Warrant Price at any time prior to the Expiration Date (as defined below) for
a period of not less than twenty (20) Business Days; provided, that the Company shall provide at least twenty (20) days
prior written notice of such reduction to registered holders of the Warrants and, provided further that any such reduction shall
be applied consistently to all of the Warrants.

 

3.2. Duration
of Warrants. A Warrant may be exercised only during the period commencing on the later of (i) the date that is thirty (30)
days after the first date on which the Company consummates a merger, share exchange, asset acquisition, stock purchase, reorganization
or other similar business combination with one or more businesses or entities (“Business Combination”), and
(ii) the date that is twelve (12) months from the date of the closing of the Public Offering, and terminating at 5:00 p.m., New
York City time on the earlier to occur of: (x) the date that is five (5) years after the date on which the Company completes
its Business Combination, (y) other than with respect to the Private Warrants and Working Capital Warrants then held by the
initial purchasers or their respective Permitted Transferees with respect to a redemption pursuant to Section 6.1 hereof (an “Inapplicable
Redemption”), at 5:00 p.m., New York City time on the Redemption Date as provided in Section 6.2 of this Agreement
and (z) the liquidation of the Company (“Expiration Date”). The period of time from the date the Warrants
will first become exercisable until the expiration of the Warrants shall hereafter be referred to as the “Exercise Period.”
Except with respect to the right to receive the Redemption Price (as set forth in Section 6 hereunder), each outstanding
Warrant (other than a Private Warrant or Working Capital Warrant in the event of an Inapplicable Redemption) not exercised on
or before the Expiration Date shall become void, and all rights thereunder and all rights in respect thereof under this Agreement
shall cease at the close of business on the Expiration Date. The Company in its sole discretion may extend the duration of the
Warrants by delaying the Expiration Date; provided, however, that the Company shall provide at least twenty (20) days prior
written notice of any such extension to registered holders and, provided further that any such extension shall be identical in
duration among to all of the Warrants. Notwithstanding anything to the contrary, the Macquarie Affiliate shall not exercise the
Private Warrants it will receive pursuant to the Letter Agreement after the five-year anniversary of the effective date of the
Registration Statement. 

 

3.3. Exercise
of Warrants.

 

3.3.1. Payment.
Subject to the provisions of the Warrant and this Agreement, a Warrant, when countersigned by the Warrant Agent, may be exercised
by the registered holder thereof by surrendering it, at the office of the Warrant Agent, or at the office of its successor as
Warrant Agent, in the Borough of Manhattan, City and State of New York, with the subscription form, as set forth in the Warrant,
duly executed, and by paying in full the Warrant Price for each share of Common Stock as to which the Warrant is exercised and
any and all applicable taxes due in connection with the exercise of the Warrant, as follows:

 

(a)
in lawful money of the United States, by good certified check or good bank draft payable to the order of the Warrant Agent or
wire transfer;

 

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(b)
in the event of a redemption pursuant to Section 6.1 hereof in which the Company’s management has elected to force
all holders of Warrants to exercise such Warrants on a “cashless basis,” by surrendering the Warrants for that number
of shares of Common Stock equal to the quotient obtained by dividing (x) the product of the number of shares of Common Stock
underlying the Warrants, multiplied by the excess of the “Fair Market Value” (defined below) over the Warrant Price
by (y) the Fair Market Value. Solely for purposes of this Section 3.3.1(b) and Section 6.3, the “Fair Market
Value” shall mean the average reported closing price of the Common Stock for the ten (10) trading days ending on
the third trading day prior to the date on which the notice of redemption is sent to holders of the Warrants pursuant to Section 6
hereof;

 

(c)
with respect to any Private Warrants or Working Capital Warrants, so long as such Private Warrants or Working Capital Warrants
are held by the initial purchasers or their Permitted Transferees, by surrendering such Private Warrants or Working Capital Warrants
for that number of shares of Common Stock equal to the quotient obtained by dividing (x) the product of the number of shares
of Common Stock underlying the Warrants, multiplied by the excess of the “Fair Market Value” over the Warrant Price
by (y) the Fair Market Value; provided, however, that no cashless exercise shall be permitted unless the Fair Market Value
is equal to or higher than the Warrant Price. Solely for purposes of this Section 3.3.1(c), the “Fair Market Value”
shall mean the average reported closing price of the Common Stock for the ten (10) trading days ending on the third trading
day prior to the date on which notice of exercise is sent to the Warrant Agent; or

 

(d)
in the event the registration statement required by Section 7.4 hereof is not effective and current by the 60th Business
Day after the closing of a Business Combination, by surrendering such Warrants for that number of shares of Common Stock equal
to the quotient obtained by dividing (x) the product of the number of shares of Common Stock underlying the Warrants, multiplied
by the excess of the “Fair Market Value” over the Warrant Price by (y) the Fair Market Value; provided, however,
that no cashless exercise shall be permitted unless the Fair Market Value is equal to or higher than the Warrant Price. Solely
for purposes of this Section 3.3.1(d), the “Fair Market Value” shall mean the average reported last sale
price of the Common Stock for the ten (10) trading days ending on the trading day prior to the date of exercise.

 

3.3.2. Issuance
of Shares of Common Stock. As soon as practicable after the exercise of any Warrant and the clearance of the funds in payment
of the Warrant Price (if any), the Company shall issue to the registered holder of such Warrant a certificate or certificates,
or book entry position, for the number of shares of Common Stock to which he, she or it is entitled, registered in such name or
names as may be directed by him, her or it, and if such Warrant shall not have been exercised in full, a new countersigned Warrant,
or book entry position, for the number of shares as to which such Warrant shall not have been exercised. Notwithstanding the foregoing,
in no event will the Company be required to net cash settle the Warrant exercise. No Warrant shall be exercisable for cash and
the Company shall not be obligated to issue shares of Common Stock upon exercise of a Warrant unless the Common Stock issuable
upon such Warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the state of residence
of the registered holder of the Warrants. In the event that the condition in the immediately preceding sentence is not satisfied
with respect to a Warrant, the holder of such Warrant shall not be entitled to exercise such Warrant for cash and such Warrant
may have no value and expire worthless, in which case the purchaser of a Unit containing such Public Warrants shall have paid
the full purchase price for the Unit solely for the shares of Common Stock underlying such Unit. Warrants may not be exercised
by, or securities issued to, any registered holder in any state in which such exercise or issuance would be unlawful.

 

3.3.3. Valid
Issuance. All shares of Common Stock issued upon the proper exercise of a Warrant in conformity with this Agreement shall
be validly issued, fully paid and nonassessable.

 

3.3.4. Date
of Issuance. Each person in whose name any book entry position or certificate for shares of Common Stock is issued shall for
all purposes be deemed to have become the holder of record of such shares on the date on which the Warrant, or book entry position
representing such Warrant, was surrendered and payment of the Warrant Price was made, irrespective of the date of delivery of
such certificate, except that, if the date of such surrender and payment is a date when the share transfer books of the Company
or book entry system of the Warrant Agent are closed, such person shall be deemed to have become the holder of such shares at
the close of business on the next succeeding date on which the share transfer books or book entry system are open.

 

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3.3.5 Maximum
Percentage. A holder of a Warrant may notify the Company in writing in the event it elects to be subject to the provisions
contained in this subsection 3.3.5; however, no holder of a Warrant shall be subject to this subsection 3.3.5 unless he, she or
it makes such election. If the election is made by a holder, the Warrant Agent shall not cause the exercise of the holder’s
Warrant, and such holder shall not have the right to exercise such Warrant, to the extent that after giving effect to such exercise,
such person (together with such person’s affiliates), to the Warrant Agent’s actual knowledge, would beneficially
own in excess of 4.9% or 9.8% (as specified by the holder) (the “Maximum Percentage”) of the shares of Common
Stock outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number
of shares of Common Stock beneficially owned by such person and its affiliates shall include the number of shares of Common Stock
issuable upon exercise of the Warrant with respect to which the determination of such sentence is being made, but shall exclude
shares of Common Stock that would be issuable upon (x) exercise of the remaining, unexercised portion of the Warrant beneficially
owned by such person and its affiliates and (y) exercise or conversion of the unexercised or unconverted portion of any other
securities of the Company beneficially owned by such person and its affiliates (including, without limitation, any convertible
notes or convertible preferred stock or warrants) subject to a limitation on conversion or exercise analogous to the limitation
contained herein. Except as set forth in the preceding sentence, for purposes of this paragraph, beneficial ownership shall be
calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).
For purposes of the Warrant, in determining the number of outstanding shares of Common Stock, the holder may rely on the number
of outstanding shares of Common Stock as reflected in (1) the Company’s most recent annual report on Form 10-K, quarterly
report on Form 10-Q, current report on Form 8-K or other public filing with the Securities and Exchange Commission
as the case may be, (2) a more recent public announcement by the Company or (3) any other notice by the Company or Continental
Stock Transfer & Trust Company setting forth the number of shares of Common Stock outstanding. For any reason at any
time, upon the written request of the holder of the Warrant, the Company shall, within two (2) Business Days, confirm orally
and in writing to such holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares
of Common Stock shall be determined after giving effect to the conversion or exercise of equity securities of the Company by the
holder and its affiliates since the date as of which such number of outstanding shares of Common Stock was reported. By written
notice to the Company, the holder of a Warrant may from time to time increase or decrease the Maximum Percentage applicable to
such holder to any other percentage specified in such notice; provided, however, that any such increase shall not be effective
until the sixty-first (61st) day after such notice is delivered to the Company.

 

4. Adjustments.

 

4.1. Stock
Dividends; Split Ups. If after the date hereof, and subject to the provisions of Section 4.6 below, the number of outstanding
shares of Common Stock is increased by a stock dividend payable in shares of Common Stock, or by a split up of shares of Common
Stock, or other similar event, then, on the effective date of such stock dividend, split up or similar event, the number of shares
of Common Stock issuable on exercise of each Warrant shall be increased in proportion to such increase in outstanding shares of
Common Stock. A rights offering to holders of the Common Stock entitling holders to purchase shares of Common Stock at a price
less than the “Fair Market Value” (as defined below) shall be deemed a stock dividend of a number of shares of Common
Stock equal to the product of (i) the number of shares of Common Stock actually sold in such rights offering (or issuable
under any other equity securities sold in such rights offering that are convertible into or exercisable for the Common Stock)
and (ii) one (1) minus the quotient of (x) the price per share of Common Stock paid in such rights offering divided
by (y) the Fair Market Value. For purposes of this subsection 4.1.1, (i) if the rights offering is for securities convertible
into or exercisable for Common Stock, in determining the price payable for Common Stock, there shall be taken into account any
consideration received for such rights, as well as any additional amount payable upon exercise or conversion and (ii) “Fair
Market Value” means the volume weighted average price of the Common Stock as reported during the ten (10) trading
day period ending on the trading day prior to the first date on which the shares of Common Stock trade on the applicable exchange
or in the applicable market, regular way, without the right to receive such rights.

 

4.2. Aggregation
of Shares. If after the date hereof, the number of outstanding shares of Common Stock is decreased by a consolidation, combination,
reverse stock split or reclassification of shares of Common Stock or other similar event, then, on the effective date of such
consolidation, combination, reverse stock split, reclassification or similar event, the number of shares of Common Stock issuable
on exercise of each Warrant shall be decreased in proportion to such decrease in outstanding shares of Common Stock.

 

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4.3 Extraordinary
Dividends. If the Company, at any time while the Warrants are outstanding and unexpired, shall pay a dividend or make a distribution
in cash, securities or other assets to the holders of the shares of Common Stock or other shares of the Company’s capital
stock into which the Warrants are convertible (an “Extraordinary Dividend”), then the Warrant Price shall be
decreased, effective immediately after the effective date of such Extraordinary Dividend, by the amount of cash and the fair market
value (as determined by the Company’s Board of Directors, in good faith) of any securities or other assets paid on each
share of Common Stock in respect of such Extraordinary Dividend; provided, however, that none of the following shall be deemed
an Extraordinary Dividend for purposes of this provision: (a) any adjustment described in subsection 4.1 above, (b) any
cash dividends or cash distributions which, when combined on a per share basis with all other cash dividends and cash distributions
paid on the Common Stock during the 365-day period ending on the date of declaration of such dividend or distribution
does not exceed $0.50 (as adjusted to appropriately reflect any of the events referred to in other subsections of this Section 4
and excluding cash dividends or cash distributions that resulted in an adjustment to the Warrant Price or to the number of shares
of Common Stock issuable on exercise of each Warrant) but only with respect to the amount of the aggregate cash dividends or cash
distributions equal to or less than $0.50, (c) any payment to satisfy the conversion rights of the holders of the shares of Common
Stock in connection with a proposed initial Business Combination or (d) any payment in connection with the Company’s
liquidation and the distribution of its assets upon its failure to consummate a Business Combination. Solely for purposes of illustration,
if the Company, at a time while the Warrants are outstanding and unexpired, pays a cash dividend of $0.35 and previously paid
an aggregate of $0.40 of cash dividends and cash distributions on the Common Stock during the 365-day period ending
on the date of declaration of such $0.35 dividend, then the Warrant Price will be decreased, effectively immediately after the
effective date of such $0.35 dividend, by $0.25 (the absolute value of the difference between $0.75 (the aggregate amount of all
cash dividends and cash distributions paid or made in such 365-day period, including such $0.35 dividend) and $0.50
(the greater of (x) $0.50 and (y) the aggregate amount of all cash dividends and cash distributions paid or made in such 365-day period
prior to such $0.35 dividend)).

 

4.4 Adjustments
in Warrant Price.

 

4.4.1 Whenever
the number of shares of Common Stock purchasable upon the exercise of the Warrants is adjusted, as provided in Sections 4.1 and
4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price immediately prior to such
adjustment by a fraction (x) the numerator of which shall be the number of shares of Common Stock purchasable upon the exercise
of the Warrants immediately prior to such adjustment, and (y) the denominator of which shall be the number of shares of Common
Stock so purchasable immediately thereafter.

 

4.4.2 If
(i) the Company issues additional shares of Common Stock or equity-linked securities for capital raising purposes in connection
with the closing of its initial Business Combination at an issue price or effective issue price of less than $9.20 per share of
Common Stock (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors
and, in the case of any such issuance to the Company’s initial stockholders or their affiliates, without taking into account
any founder shares held by them prior to such issuance), with such issue price or effective issue price to be determined in good
faith by the Board (and in the case of any such issuance to the initial stockholders (as defined in the Registration Statement)
or their affiliates, without taking into account any founder shares held by such holders or their affiliates, as applicable, prior
to such issuance) (the “New Issuance Price”), (ii) the aggregate gross proceeds from such issuances represent
more than 60% of the total equity proceeds, and interest thereon, available for the funding of the initial Business Combination
on the date of the consummation thereof (net of redemptions) and (iii) the volume weighted average trading price of the Common
Stock during the 20 trading day period starting on the trading day prior to the day on which the Company consummates the initial
Business Combination (such price, the “Market Value”) is below $9.20 per share, the Warrant Price shall be
adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the New Issuance Price, and Redemption
Trigger Price (as defined in Section 6.1)  shall be adjusted (to the nearest cent) to be equal to 180% of the higher
of the Market Value and the New Issuance Price.

 

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4.5. Replacement
of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding shares of Common
Stock (other than a change covered by Section 4.1, 4.2 or 4.3 hereof or that solely affects the par value of the Common Stock),
or in the case of any merger or consolidation of the Company with or into another corporation (other than a consolidation or merger
in which the Company is the continuing corporation and that does not result in any reclassification or reorganization of the outstanding
Common Stock), or in the case of any sale or conveyance to another corporation or entity of the assets or other property of the
Company as an entirety or substantially as an entirety in connection with which the Company is dissolved, the Warrant holders
shall thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the Warrants
and in lieu of the shares of Common Stock of the Company immediately theretofore purchasable and receivable upon the exercise
of the rights represented thereby, the kind and amount of shares of stock or other securities or property (including cash) receivable
upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer,
that the Warrant holder would have received if such Warrant holder had exercised his, her or its Warrant(s) immediately prior
to such event (the “Alternative Issuance”); provided, however, that in connection with the closing of any such
consolidation, merger, sale or conveyance, the successor or purchasing entity shall execute an amendment hereto with the Warrant
Agent providing for delivery of such Alternative Issuance; provided, further, that (i) if the holders of the Common Stock
were entitled to exercise a right of election as to the kind or amount of securities, cash or other assets receivable upon such
consolidation or merger, then the kind and amount of securities, cash or other assets constituting the Alternative Issuance for
which each Warrant shall become exercisable shall be deemed to be the weighted average of the kind and amount received per share
by the holders of the Common Stock in such consolidation or merger that affirmatively make such election, and (ii) if a tender,
exchange or redemption offer shall have been made to and accepted by the holders of the Common Stock (other than a tender, exchange
or redemption offer made by the Company in connection with redemption rights held by stockholders of the Company as provided for
in the Company’s amended and restated certificate of incorporation or as a result of the repurchase of shares of Common
Stock by the Company if a proposed initial Business Combination is presented to the stockholders of the Company for approval)
under circumstances in which, upon completion of such tender or exchange offer, the maker thereof, together with members of any
group (within the meaning of Rule 13d-5(b)(1) under the Exchange Act (or any successor rule)) of which such maker is
a part, and together with any affiliate or associate of such maker (within the meaning of Rule 12b-2 under the Exchange
Act (or any successor rule)) and any members of any such group of which any such affiliate or associate is a part, own beneficially
(within the meaning of Rule 13d-3 under the Exchange Act (or any successor rule)) more than 50% of the outstanding shares
of Common Stock, the holder of a Warrant shall be entitled to receive as the Alternative Issuance, the highest amount of cash,
securities or other property to which such holder would actually have been entitled as a stockholder if such Warrant holder had
exercised the Warrant prior to the expiration of such tender or exchange offer, accepted such offer and all of the Common Stock
held by such holder had been purchased pursuant to such tender or exchange offer, subject to adjustments (from and after the consummation
of such tender or exchange offer) as nearly equivalent as possible to the adjustments provided for in this Section 4; provided,
further, that if less than 70% of the consideration receivable by the holders of the Common Stock in the applicable event is payable
in the form of common stock in the successor entity that is listed for trading on a national securities exchange or is quoted
in an established over-the-counter market, or is to be so listed for trading or quoted immediately following such event,
and if the Registered Holder properly exercises the Warrant within thirty (30) days following the public disclosure of the
consummation of such applicable event by the Company pursuant to a Current Report on Form 8-K filed with the Commission,
the Warrant Price shall be reduced by an amount (in dollars) equal to the difference (but in no event less than zero) of (i) the
Warrant Price in effect prior to such reduction minus (ii) (A) the Per Share Consideration (as defined below) minus (B) the
Black-Scholes Warrant Value (as defined below). The “Black-Scholes Warrant Value” means the value of a Warrant immediately
prior to the consummation of the applicable event based on the Black-Scholes Warrant Model for a Capped American Call on Bloomberg
Financial Markets (“Bloomberg”). For purposes of calculating such amount, (1) Section 6 of this Agreement
shall be taken into account, (2) the price of each share of Common Stock shall be the volume weighted average price of the
Common Stock as reported during the ten (10) trading day period ending on the trading day prior to the effective date of
the applicable event, (3) the assumed volatility shall be the 90 day volatility obtained from the HVT function on Bloomberg
determined as of the trading day immediately prior to the day of the announcement of the applicable event, and (4) the assumed
risk-free interest rate shall correspond to the U.S. Treasury rate for a period equal to the remaining term of the Warrant. “Per
Share Consideration” means (i) if the consideration paid to holders of the Common Stock consists exclusively of cash,
the amount of such cash per share of Common Stock, and (ii) in all other cases, the volume weighted average price of the
Common Stock as reported during the ten (10) trading day period ending on the trading day prior to the effective date of
the applicable event. If any reclassification also results in a change in the Common Stock covered by Section 4.1, 4.2, 4.3 or
4.4, then such adjustment shall be made pursuant to Sections 4.1, 4.2, 4.3, 4.4 and this Section 4.5. The provisions of this Section
4.5 shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers.
In no event will the Warrant Price be reduced to less than the par value per share issuable upon exercise of the Warrant.

 

    7

     

    

 

4.6. Notices
of Changes in Warrant. Upon every adjustment of the Warrant Price or the number of shares issuable upon exercise of a Warrant,
the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting from
such adjustment and the increase or decrease, if any, in the number of shares purchasable at such price upon the exercise of a
Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon
the occurrence of any event specified in Sections 4.1, 4.2, 4.3, 4.4 or 4.5, then, in any such event, the Company shall give written
notice to each Warrant holder, at the last address set forth for such holder in the Warrant Register, of the record date or the
effective date of the event. Failure to give such notice, or any defect therein, shall not affect the legality or validity of
such event.

 

4.7. No
Fractional Warrants or Shares. Notwithstanding any provision contained in this Agreement to the contrary, the Company shall
not issue fractional shares upon exercise of Warrants. If, by reason of any adjustment made pursuant to this Section 4, the
holder of any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share, the Company
shall, upon such exercise, round down to the nearest whole number of shares of Common Stock to be issued to the Warrant holder.

 

4.8. Form
of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this Section 4, and Warrants
issued after such adjustment may state the same Warrant Price and the same number of shares as is stated in the Warrants initially
issued pursuant to this Agreement. However, the Company may at any time in its sole discretion make any change in the form of
Warrant that the Company may deem appropriate and that does not affect the substance thereof, and any Warrant thereafter issued
or countersigned, whether in exchange or substitution for an outstanding Warrant or otherwise, may be in the form as so changed.

 

4.9 No
Adjustment. For the avoidance of doubt, no adjustment shall be made to the terms of the Warrants solely as a result of an
adjustment to the conversion ratio of the Company’s Class B common stock (the “Class B Common Stock”)
into shares of Common Stock or the conversion of the shares of Class B Common Stock into shares of Common Stock, in each case
pursuant to the Charter.

 

4.10 Other
Events. In case any event shall occur affecting the Company as to which none of the provisions of preceding subsections of
this Section 4 are strictly applicable, but which would require an adjustment to the terms of the Warrants in order to (i) avoid
an adverse impact on the Warrants and (ii) effectuate the intent and purpose of this Section 4, then, in each such case,
the Company shall appoint a firm of independent public accountants, investment banking or other appraisal firm of recognized national
standing, which shall give its opinion as to whether or not any adjustment to the rights represented by the Warrants is necessary
to effectuate the intent and purpose of this Section 4 and, if they determine that an adjustment is necessary, the terms
of such adjustment. The Company shall adjust the terms of the Warrants in a manner that is consistent with any adjustment recommended
in such opinion.

 

5. Transfer
and Exchange of Warrants.

 

5.1. Registration
of Transfer. The Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant upon the Warrant
Register, upon surrender of such Warrant for transfer, properly endorsed with signatures, in the case of certificated Warrants,
properly guaranteed and accompanied by appropriate instructions for transfer. Upon any such transfer, a new Warrant representing
an equal aggregate number of Warrants shall be issued and the old Warrant shall be cancelled by the Warrant Agent. In the case
of certificated Warrants, the Warrants so cancelled shall be delivered by the Warrant Agent to the Company from time to time upon
request.

 

5.2. Procedure
for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, either in certificated form or in book entry
position, together with a written request for exchange or transfer, and thereupon the Warrant Agent shall issue in exchange therefor
one or more new Warrants, or book entry positions, as requested by the registered holder of the Warrants so surrendered, representing
an equal aggregate number of Warrants; provided, however, that in the event that a Warrant surrendered for transfer bears a restrictive
legend, the Warrant Agent shall not cancel such Warrant and issue new Warrants in exchange therefor until the Warrant Agent has
received an opinion of counsel for the Company stating that such transfer may be made and indicating whether the new Warrants
must also bear a restrictive legend.

 

    8

     

    

 

5.3. Fractional
Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which will result in
the issuance of a warrant certificate or book-entry position for a fraction of a Warrant, except as part of the Units.

 

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

 

5.5. Warrant
Execution and Countersignature. The Warrant Agent is hereby authorized to countersign and to deliver, in accordance with the
terms of this Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5, and the Company,
whenever required by the Warrant Agent, will supply the Warrant Agent with Warrants duly executed on behalf of the Company for
such purpose.

 

5.6. Private
Warrants and Working Capital Warrants. The Warrant Agent shall not register any transfer of Private Warrants or Working Capital
Warrants until 30 days after the consummation by the Company of an initial Business Combination, except (i) 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
Company’s sponsors, any affiliates of the sponsors, any of the Underwriters or any affiliate of the Underwriters, the initial
stockholders (as defined in the Registration Statement) and any family members of the initial stockholders, if such initial stockholder
is an individual, or any members of the initial stockholders or any affiliates of the initial stockholders, if such initial stockholder
is an entity, (ii) by gift to a charitable organization or in the case of an individual, by gift to a member of the holder’s
immediate family or to a trust, the beneficiary of which is a member of one of the holder’s immediate family or an affiliate
of such person; (iii) in the case of an individual, by virtue of laws of descent and distribution upon death of the individual;
(iv) in the case of an individual, pursuant to a qualified domestic relations order; (v) by private sales or transfers made in
connection with any forward purchase agreement or similar arrangement or in connection with the consummation of an initial business
combination at prices no greater than the price at which the shares or warrants were originally purchased; (vi) in the event of
the Company’s liquidation prior to the completion of the initial business combination; or (vii) by virtue of the laws of
Delaware or the organizational documents of the Company’s sponsors upon dissolution of such entities or any of the initial
stockholders upon dissolution of such initial stockholder; provided, however, that in the case of clauses (i) through (v) or (vii)
these permitted transferees must enter into a written agreement agreeing to be bound by these transfer restrictions and the other
restrictions contained in certain letter agreement to be entered into by the Company and the holder with respect to such securities
(including provisions relating to voting, the trust account and liquidation distributions described in the Registration Statement).

 

5.7. Transfers
prior to Detachment. Prior to the Detachment Date, the Public Warrants may be transferred or exchanged only together with
the Unit in which such Warrant is included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange
of such Unit. Furthermore, each transfer of a Unit on the register relating to such Units shall operate also to transfer the Warrants
included in such Unit. Notwithstanding the foregoing, the provisions of this Section 5.7 shall have no effect on any transfer
of Warrants on or after the Detachment Date.

 

6. Redemption.

 

6.1. Redemption.
Subject to Section 6.4 hereof, not less than all of the outstanding Warrants may be redeemed, at the option of the Company,
at any time during the Exercise Period, at the office of the Warrant Agent, upon the notice referred to in Section 6.2, at
the price of $0.01 per Warrant (“Redemption Price”), provided that the reported closing price of the Common
Stock equals or exceeds $18.00 per share (subject to adjustment in accordance with Section 4 hereof) (the “Redemption
Trigger Price”), on each of twenty (20) trading days within any thirty (30) trading day period commencing
once the Warrants become exercisable and ending on the third trading day prior to the date on which notice of redemption is given
and provided that there is an effective registration statement covering the shares of Common Stock issuable upon exercise of the
Warrants, and a current prospectus relating thereto, available throughout the 30-day redemption or the Company has elected
to require the exercise of the Warrants on a “cashless basis” pursuant to subsection 3.3.1(b); provided, however,
that if and when the Public Warrants become redeemable by the Company, the Company may not exercise such redemption right if the
issuance of shares of Common Stock upon exercise of the Public Warrants is not exempt from registration or qualification under
applicable state blue sky laws or the Company is unable to effect such registration or qualification.

 

    9

     

    

 

6.2. Date
Fixed for, and Notice of, Redemption. In the event that the Company elects to redeem all of the Warrants pursuant to Section
6.1, the Company shall fix a date for the redemption (the “Redemption Date”). Notice of redemption shall be
mailed by first class mail, postage prepaid, by the Company not less than thirty (30) days prior to the Redemption Date to
the registered holders of the Warrants to be redeemed at their last addresses as they shall appear on the registration books.
Any notice mailed in the manner herein provided shall be conclusively presumed to have been duly given whether or not the registered
holder received such notice.

 

6.3. Exercise
After Notice of Redemption. The Public Warrants may be exercised, for cash (or on a “cashless basis” in accordance
with Section 3 of this Agreement) at any time after notice of redemption shall have been given by the Company pursuant to
Section 6.2 hereof and prior to the Redemption Date. In the event that the Company determines to require all holders of Public
Warrants to exercise their Warrants on a “cashless basis” pursuant to Section 3.3.1(b), the notice of redemption
will contain the information necessary to calculate the number of shares of Common Stock to be received upon exercise of the Warrants,
including the “Fair Market Value” (as such term is defined in Section 3.3.1(b)) in such case. On and after the Redemption
Date, the record holder of the Warrants shall have no further rights except to receive, upon surrender of the Warrants, the Redemption
Price.

 

6.4 Exclusion
of Certain Warrants. The Company agrees that the redemption rights provided in this Section 6 shall not apply to (i) the
Private Warrants and Working Capital Warrants if at the time of the redemption such Private Warrants or Working Capital Warrants
continue to be held by the initial purchasers or their Permitted Transferees or (ii) Post IPO Warrants if such warrants provide
that they are non-redeemable by the Company. However, with respect to the Private Warrants or Working Capital Warrants,
once such Private Warrants or Working Capital Warrants are transferred (other than to Permitted Transferees under Section 5.6),
the Company may redeem the Private Warrants and Working Capital Warrants in the same manner as the Public Warrants.

 

7. Other
Provisions Relating to Rights of Holders of Warrants.

 

7.1. No
Rights as Stockholder. A Warrant does not entitle the registered holder thereof to any of the rights of a stockholder of the
Company, including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive rights
to vote or to consent or to receive notice as stockholders in respect of the meetings of stockholders or the election of directors
of the Company or any other matter.

 

7.2. Lost,
Stolen, Mutilated, or Destroyed Warrants. If any Warrant is lost, stolen, mutilated, or destroyed, the Company and the Warrant
Agent may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a mutilated
Warrant, include the surrender thereof), issue a new Warrant of like denomination, tenor, and date as the Warrant so lost, stolen,
mutilated, or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company, whether or
not the allegedly lost, stolen, mutilated, or destroyed Warrant shall be at any time enforceable by anyone.

 

7.3. Reservation
of Shares of Common Stock. The Company shall at all times reserve and keep available a number of its authorized but unissued
shares of Common Stock that shall be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to
this Agreement.

 

    10

     

    

 

7.4. Registration
of Shares of Common Stock. The Company agrees that as soon as practicable, but in no event later than fifteen (15) Business
Days, after the closing of its initial Business Combination, it shall use its best efforts to file with the Commission a registration
statement for the registration, under the Act, of the shares of Common Stock issuable upon exercise of the Warrants, and it shall
use its best efforts to take such action as is necessary to register or qualify for sale, in those states in which the Warrants
were initially offered by the Company and in those states where holders of Warrants then reside, the shares of Common Stock issuable
upon exercise of the Warrants, to the extent an exemption is not available. The Company agrees to use its best efforts to cause
the same to become effective and to maintain the effectiveness of such registration statement, and a current prospectus relating
thereto, until the expiration of the Warrants in accordance with the provisions of this Agreement. In addition, the Company agrees
to use its best efforts to register such securities under the blue sky laws of the states of residence of the existing warrant
holders to the extent an exemption is not available. If any such registration statement has not been declared effective by the
60th Business Day following the closing of the Business Combination, holders of the Warrants shall have the right, during the
period beginning on the 61st Business Day after the closing of the Business Combination and ending upon such registration statement
being declared effective by the Commission, and during any other period when the Company shall fail to have maintained an effective
registration statement covering the shares of Common Stock issuable upon exercise of the Warrants, to exercise such Warrants on
a “cashless basis” as determined in accordance with Section 3.3.1(d). The Company shall provide the Warrant Agent
with an opinion of counsel for the Company (which shall be an outside law firm with securities law experience) stating that (i) the
exercise of the Warrants on a cashless basis in accordance with this Section 7.4 is not required to be registered under the
Act and (ii) the shares of Common Stock issued upon such exercise will be freely tradable under U.S. federal securities laws
by anyone who is not an affiliate (as such term is defined in Rule 144 under the Act) of the Company and, accordingly, will not
be required to bear a restrictive legend. For the avoidance of any doubt, except as set forth in Section 7.4.2, unless and
until all of the Warrants have been exercised on a cashless basis, the Company shall continue to be obligated to comply with its
registration obligations under the first three sentences of this Section 7.4.

 

7.5 Cashless
Exercise at Company’s Option. If the Common Stock is at the time of any exercise of a Warrant not listed on a national
securities exchange such that it satisfies the definition of a “covered security” under Section 18(b)(1) of the
Securities Act (or any successor rule), the Company may, at its option, require holders of Public Warrants who exercise Public
Warrants to exercise such Public Warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities
Act (or any successor rule) as described in Section 7.4 and (i) in the event the Company so elects, the Company shall not
be required to file or maintain in effect a registration statement for the registration, under the Securities Act, of the Common
Stock issuable upon exercise of the Warrants, notwithstanding anything in this Agreement to the contrary or (ii) if the Company
does not so elect, the Company agrees to use its best efforts to register or qualify for sale the Common Stock issuable upon exercise
of the Public Warrant under the blue sky laws of the state of residence of the exercising Public Warrant holder to the extent
an exemption is not available.

 

8. Concerning
the Warrant Agent and Other Matters.

 

8.1. Payment
of Taxes. The Company shall from time to time promptly pay all taxes and charges that may be imposed upon the Company or the
Warrant Agent in respect of the issuance or delivery of shares of Common Stock upon the exercise of the Warrants, but the Company
shall not be obligated to pay any transfer taxes in respect of the Warrants or such shares of Common Stock.

 

8.2. Resignation,
Consolidation, or Merger of Warrant Agent.

 

8.2.1. Appointment
of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its duties and be discharged
from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If
the office of the Warrant Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in
writing a successor Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment within a period
of thirty (30) days after it has been notified in writing of such resignation or incapacity by the Warrant Agent or by the
holder of the Warrant (who shall, with such notice, submit his Warrant for inspection by the Company), then the holder of any
Warrant may apply to the Supreme Court of the State of New York for the County of New York for the appointment of a successor
Warrant Agent at the Company’s cost. Any successor Warrant Agent, whether appointed by the Company or by such court, shall
be a corporation organized and existing under the laws of the State of New York, in good standing and having its principal office
in the Borough of Manhattan, City and State of New York, and authorized under such laws to exercise corporate trust powers and
subject to supervision or examination by federal or state authority. After appointment, any successor Warrant Agent shall be vested
with all the authority, powers, rights, immunities, duties, and obligations of its predecessor Warrant Agent with like effect
as if originally named as Warrant Agent hereunder, without any further act or deed; but if for any reason it becomes necessary
or appropriate, the predecessor Warrant Agent shall execute and deliver, at the expense of the Company, an instrument transferring
to such successor Warrant Agent all the authority, powers, and rights of such predecessor Warrant Agent hereunder; and upon request
of any successor Warrant Agent the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for
more fully and effectually vesting in and confirming to such successor Warrant Agent all such authority, powers, rights, immunities,
duties, and obligations.

 

8.2.2. Notice
of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give notice thereof
to the predecessor Warrant Agent and the transfer agent for the shares of Common Stock not later than the effective date of any
such appointment.

 

8.2.3. Merger
or Consolidation of Warrant Agent. Any corporation into which the Warrant Agent may be merged or with which it may be consolidated
or any corporation resulting from any merger or consolidation to which the Warrant Agent shall be a party shall be the successor
Warrant Agent under this Agreement without any further act.

 

    11

     

    

 

8.3. Fees
and Expenses of Warrant Agent.

 

8.3.1. Remuneration.
The Company agrees to pay the Warrant Agent reasonable remuneration for its services as such Warrant Agent hereunder and will
reimburse the Warrant Agent upon demand for all expenditures that the Warrant Agent may reasonably incur in the execution of its
duties hereunder.

 

8.3.2. Further
Assurances. The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed, acknowledged,
and delivered all such further and other acts, instruments, and assurances as may reasonably be required by the Warrant Agent
for the carrying out or performing of the provisions of this Agreement.

 

8.4. Liability
of Warrant Agent.

 

8.4.1. Reliance
on Company Statement. Whenever in the performance of its duties under this Agreement, the Warrant Agent shall deem it necessary
or desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder,
such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively
proved and established by a statement signed by the Chief Executive Officer or Chairman of the Board of Directors of the Company
and delivered to the Warrant Agent. The Warrant Agent may rely upon such statement for any action taken or suffered in good faith
by it pursuant to the provisions of this Agreement.

 

8.4.2. Indemnity.
The Warrant Agent shall be liable hereunder only for its own fraud, gross negligence, willful misconduct or bad faith. The Company
agrees to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, costs and reasonable
counsel fees, for anything done or omitted by the Warrant Agent in the execution of this Agreement except as a result of the Warrant
Agent’s fraud, gross negligence, willful misconduct, or bad faith.

 

8.4.3. Exclusions.
The Warrant Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the validity
or execution of any Warrant (except its countersignature thereof); nor shall it be responsible for any breach by the Company of
any covenant or condition contained in this Agreement or in any Warrant; nor shall it be responsible to make any adjustments required
under the provisions of Section 4 hereof or responsible for the manner, method, or amount of any such adjustment or the ascertaining
of the existence of facts that would require any such adjustment; nor shall it by any act hereunder be deemed to make any representation
or warranty as to the authorization or reservation of any shares of Common Stock to be issued pursuant to this Agreement or any
Warrant or as to whether any shares of Common Stock shall, when issued, be valid and fully paid and nonassessable.

 

8.5. Acceptance
of Agency. The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the
terms and conditions herein set forth and among other things, shall account promptly to the Company with respect to Warrants exercised
and concurrently account for, and pay to the Company, all monies received by the Warrant Agent for the purchase of shares of Common
Stock through the exercise of the Warrants.

 

9. Miscellaneous
Provisions.

 

9.1. Successors.
All the covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind and inure
to the benefit of their respective successors and assigns.

 

    12

     

    

 

9.2. Notices.
Any notice, statement or demand authorized by this Agreement to be given or made by the Warrant Agent or by the holder of any
Warrant to or on the Company shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified
mail or private courier service within five (5) days after deposit of such notice, postage prepaid, addressed (until another
address is filed in writing by the Company with the Warrant Agent), as follows:

 

EdtechX
Holdings Acquisitions Corp. II

c/o
IBIS Capital Limited

22
Soho Square

London,
41D 4NS

United
Kingdom

Attn:
CEO

 

Any
notice, statement or demand authorized by this Agreement to be given or made by the holder of any Warrant or by the Company to
or on the Warrant Agent shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified
mail or private courier service within five days after deposit of such notice, postage prepaid, addressed (until another address
is filed in writing by the Warrant Agent with the Company), as follows:

 

Continental
Stock Transfer & Trust Company

1
State Street

New
York, New York 10004

Attn:
Compliance Department

 

with
a copy in each case to:

 

Graubard
Miller

The
Chrysler Building

405
Lexington Avenue, 11th Floor

New
York, New York 10174

Attn:
David Alan Miller, Esq.

and

 

White
& Case LLP

1221
Avenue of the Americas

New
York, NY 10020

Attn:
Joel L. Rubinstein, Esq.

Email:
joel.rubinstein@whitecase.com

 

and

 

Jefferies
LLC

520
Madison Avenue. 2nd Floor

New
York, New York 10022

Attn:
General Counsel

 

9.3. Applicable
Law. The validity, interpretation, and performance of this Agreement and of the Warrants shall be governed in all respects
by the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application
of the substantive laws of another jurisdiction. The Company hereby agrees that any action, proceeding or claim against it arising
out of or relating in any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United
States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction. The Company hereby waives any objection that such courts represent an inconvenient
forum. Any such process or summons to be served upon the Company may be served by transmitting a copy thereof by registered or
certified mail, return receipt requested, postage prepaid, addressed to it at the address set forth in Section 9.2 hereof.
Such mailing shall be deemed personal service and shall be legal and binding upon the Company in any action, proceeding or claim.

 

    13

     

    

 

9.4. Persons
Having Rights under this Agreement. Nothing in this Agreement expressed and nothing that may be implied from any of the provisions
hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties hereto
and the registered holders of the Warrants and, for the purposes of Sections 9.4 and 9.8 hereof, the Representative, any right,
remedy, or claim under or by reason of this Warrant Agreement or of any covenant, condition, stipulation, promise, or agreement
hereof. The Representative shall be deemed to be a third-party beneficiary of this Agreement with respect to Sections 9.4 and
9.8 hereof. All covenants, conditions, stipulations, promises, and agreements contained in this Warrant Agreement shall be for
the sole and exclusive benefit of the parties hereto (and the Representative with respect to the Sections 9.4 and 9.8 hereof)
and their successors and assigns and of the registered holders of the Warrants.

 

9.5. Examination
of the Warrant Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the Warrant
Agent in the Borough of Manhattan, City and State of New York, for inspection by the registered holder of any Warrant. The Warrant
Agent may require any such holder to submit his Warrant for inspection by it.

 

9.6. Counterparts.
This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all
purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

9.7. Effect
of Headings. The section headings herein are for convenience only and are not part of this Agreement and shall not affect
the interpretation thereof.

 

9.8 Amendments.
This Agreement may be amended by the parties hereto without the consent of any registered holder (i) for the purpose of curing
any ambiguity, or of curing, correcting or supplementing any defective provision contained herein or adding or changing any other
provisions with respect to matters or questions arising under this Agreement as the parties may deem necessary or desirable and
that the parties deem shall not adversely affect the interest of the registered holders and (ii) to provide for the delivery
of Alternative Issuance pursuant to Section 4.4. All other modifications or amendments, including any modification or amendment
to increase the Warrant Price or shorten the Exercise Period, shall require the written consent or vote of the registered holders
of a majority of the then outstanding Public Warrants and, solely with respect to any amendment to the terms of the Private Warrants,
a majority of the then outstanding Private Warrants. Notwithstanding the foregoing, the Company may lower the Warrant Price or
extend the duration of the Exercise Period pursuant to Sections 3.1 and 3.2, respectively, without the consent of the registered
holders.

 

9.9 Trust
Account Waiver. The Warrant Agent acknowledges and agrees that it shall not make any claims or proceed against the trust account
established by the Company in connection with the Public Offering (as more fully described in the Registration Statement) (“Trust
Account”), including by way of set-off, and shall not be entitled to any funds in the Trust Account under
any circumstance. In the event that the Warrant Agent has a claim against the Company under this Agreement, the Warrant Agent
will pursue such claim solely against the Company and not against the property held in the Trust Account.

 

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

 

[signature
page follows]

 

    14

     

    

 

IN
WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto as of the day and year first above written.

	 	 	 
	 	EDTECHX
    HOLDINGS ACQUISITION CORP. II
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	CONTINENTAL
    STOCK TRANSFER

    & TRUST COMPANY
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

 

15Exhibit 10.1

 

[DATE],
2020

 

EdtechX
Holdings Acquisition Corp. II

c/o
IBIS Capital Limited

22
Soho Square

London,
W1D 4NS

United
Kingdom

 

Jefferies
LLC

520
Madison Avenue, 2nd Floor

New
York, New York 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”) entered into by and between EdtechX Holdings Acquisition Corp. II, a
Delaware corporation (the “Company”), and Jefferies LLC as representative (the “Representative”)
of the several underwriters named in Schedule A thereto (the “Underwriters”), relating to an underwritten
initial public offering (the “IPO”) of the Company’s units (the “Units”),
each unit comprised of one share of the Company’s Class A common stock, par value $0.0001 per share (the “Class
A Common Stock”), and one-half of one redeemable warrant, each whole warrant exercisable for one share of Class
A Common Stock (each, a “Warrant”). Certain capitalized terms used herein are defined in paragraph 13
hereof.

 

In
order to induce the Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the IPO, and in
recognition of the benefit that such IPO will confer upon the undersigned, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agrees, severally but not jointly, with the Company
as follows:

 

1.
If the Company solicits approval of its stockholders of a Business Combination, the undersigned will vote all shares of Common
Stock (including shares of Class B Common Stock and those shares of Class A Common Stock that may be issued to it upon conversion
of Class B Common Stock) beneficially owned by it, him or her, whether acquired before, in, or after the IPO, in favor of
such Business Combination.

 

2.
(a) In the event that the Company fails to consummate a Business Combination within the time period set forth in the Company’s
Amended and Restated Certificate of Incorporation, as the same may be further amended from time to time (the “Charter”),
the undersigned will, as promptly as possible, take all necessary actions 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 ten (10) business days thereafter,
redeem the IPO 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 funds held in the Trust Account (less up to $100,000 of interest to pay liquidation expenses
and which interest shall be net of taxes payable), divided by the number of then outstanding IPO Shares, which redemption will
completely extinguish public stockholders’ rights as stockholders (including the right to receive further liquidation 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 the cases of clauses (ii) and
(iii) to the Company’s obligations under Delaware law to provide for claims of creditors and other requirements of applicable
law.

 

(b)
The undersigned hereby waives any and all right, title, interest or claim of any kind in or to any distribution of the Trust Account
(“Claim”) with respect to the shares of Class B Common Stock owned by the undersigned and hereby waives
any Claim the undersigned may have in the future as a result of, or arising out of, any contracts or agreements with the Company
and will not seek recourse against the Trust Account for any reason whatsoever. The undersigned acknowledges and agrees that there
will be no distribution from the Trust Account with respect to any Warrants, all of which will terminate on the Company’s
liquidation.

 

     

     

    

 

[(c)
In the event of the liquidation of the Trust Account, undersigned agrees to be liable to the Company if and to the extent any
claims by a third party (other than the Company’s independent public accountants) for services rendered or products sold
to the Company, or a prospective target business with which the Company has entered into a written letter of intent, confidentiality
or other similar agreement or business combination agreement, reduce the amount of funds in the Trust Account to below the lesser
of (i) $10.00 per public share and (ii) the actual amount per share held in the Trust Account as of the date of the liquidation
of the Trust Account, if less than $10.00 per share due to reductions in the value of the trust assets, less taxes payable, provided
that such liability will not apply to any claims by a third party or prospective target business who executed a waiver of any
and all rights to the monies held in the Trust Account (whether or not such waiver is enforceable) nor will it apply to any claims
under the Company’s indemnity of the underwriters of the IPO against certain liabilities, including liabilities under the
Securities Act of 1933, as amended (the “Securities Act”).][For sponsor letter only]

 

3.
The undersigned acknowledges and agrees that prior to entering into a Business Combination with a target business that is affiliated
with any Insiders of the Company or their affiliates, such transaction must be approved by a majority of the Company’s disinterested
independent directors and the Company must obtain an opinion from an independent investment banking firm, or another independent
valuation or appraisal firm that regularly renders valuation opinions, that such Business Combination is fair to the Company from
a financial point of view.

 

4
The undersigned acknowledges and agrees that it will not be entitled to receive, and will not accept, any finder’s fees,
reimbursements, consulting fee, non-cash payments, monies in respect of any payment of a loan or other compensation paid by us
to the Company’s sponsors, initial stockholders, officers, directors or their affiliates prior to, or in connection with
any services rendered in order to effectuate, the consummation of the Business Combination (regardless of the type of transaction
that it is); provided that the Company shall be allowed to make the payments set forth in the Registration Statement under the
caption “Prospectus Summary – The Offering – Limited payments to insiders,” none of which will be made
from the proceeds of the IPO held in the Trust Account prior to the completion of the Business Combination.

 

5.
[(a) The undersigned hereby agrees not to become an officer or director of any other special purpose acquisition company that
has publicly filed a registration statement with the SEC until the Company has entered into a definitive agreement regarding an
initial Business Combination or the Company has failed to complete an initial Business Combination within the time period required
by the Charter.

 

(b)
The undersigned hereby agrees and acknowledges that (i) each of the Underwriters and the Company may be irreparably injured
in the event of a breach of any of the obligations contained in this letter, (ii) monetary damages may not be an adequate
remedy for such breach and (iii) the non-breaching party shall be entitled to injunctive relief, in addition to any
other remedy that such party may have in law or in equity, in the event of such breach.][For officer letters only]

 

6.
(a) The undersigned agrees that the shares of Class B Common Stock may not be transferred, assigned or sold (except (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 sponsors (as defined in the Registration Statement), any affiliates of the sponsors, the initial stockholders (as
defined in the Registration Statement) and any family members of the initial stockholders, if such initial stockholder is an individual,
or any members of the initial stockholders or any affiliates of the initial stockholders, if such initial stockholder is an entity,
(b) by gift to a charitable organization or in the case of an individual, by gift to a member of the holder’s immediate
family or to a trust, the beneficiary of which is a member of one of the holder’s immediate family or an affiliate of such
person; (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 any forward purchase agreement or similar arrangement or in connection with the consummation of an initial business combination
at prices no greater than the price at which the shares or warrants were originally purchased; (f) in the event of the Company’s
liquidation prior to the completion of the initial business combination; (g) to Macquarie Capital (USA) Inc. or its affiliates,
or (h) by virtue of the laws of Delaware or the organizational documents of the sponsors upon dissolution of the sponsors or any
of the initial stockholders upon dissolution of such initial stockholder; provided, however, that in the case of clauses (a) through
(e) or (h) these permitted transferees must enter into a written agreement agreeing to be bound by these transfer restrictions
and the other restrictions contained in this Letter Agreement with respect to such securities (including provisions relating to
voting, the trust account and liquidation distributions described elsewhere in the Registration Statement) until the earlier of
(1) one year after the completion of the Company’s initial Business Combination or (B) subsequent to the Company’s
initial Business Combination, (x) if the reported closing 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, or (y) the date
on which the Company completes a liquidation, merger, capital stock exchange, reorganization or other similar transaction 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.

 

    2

     

    

 

(b)
The undersigned will not, without the prior written consent of the Representative, offer, sell, contract to sell, hypothecate,
pledge, hedge, grant any option to purchase or otherwise dispose of or agree to dispose of (or enter into any transaction that
is designed to, or might reasonably be expected to, result in the disposition (whether by actual disposition or effective economic
disposition due to cash settlement or otherwise) by the undersigned or any affiliate of the undersigned or any person in privity
with the undersigned or any affiliate of the undersigned), directly or indirectly, including the filing (or participation in the
filing) of a registration statement with the Securities and Exchange Commission in respect of, or establish or increase a put
equivalent position or liquidate or decrease 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 Securities and Exchange Commission promulgated thereunder
with respect to, any Units, Class A Common Stock, Class B Common Stock, Warrants or any securities convertible into, or exercisable,
or exchangeable for, Common Stock or publicly announce an intention to effect any such transaction, for a period of 180 days after
the date of the Underwriting Agreement. Each of the undersigned acknowledges and agrees that, prior to the effective date of any
release or waiver, of the restrictions set forth in section 6 hereof, the Company shall 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. Any
release or waiver granted shall only be effective two business days after the publication date of such press release. The provisions
of this paragraph will not apply if the release or waiver is effected solely to permit a transfer not for consideration and 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.

 

(c)
The undersigned agrees that the Private Placement Warrants (including the shares of Class A Common Stock issuable upon exercise
of the Private Placement Warrants) will not be transferable, assignable or salable (except to the same permitted transferees as
described above with respect to the shares of Class B Common Stock) until 30 days after the completion of the Company’s
initial Business Combination.

 

[7.
The undersigned agrees to be an officer and/or director of the Company until the earlier of the consummation by the Company of
a Business Combination or the liquidation of the Company. The undersigned’s biographical information previously furnished
to the Company and the Representative is true and accurate in all respects and does not omit any material information with respect
to the undersigned’s background. The undersigned’s FINRA Questionnaire previously furnished to the Company and the
Representative is true and accurate in all respects. The undersigned represents and warrants that:

 

	 	(a)	he/she
    has never had a petition under the federal bankruptcy laws or any state insolvency law been filed by or against (i) him/her
    or any partnership in which he/she was a general partner at or within two years before the time of filing; or (ii) any
    corporation or business association of which he/she was an executive officer at or within two years before the time of such
    filing;

 

	 	(b)	he/she
    has never had a receiver, fiscal agent or similar officer been appointed by a court for his/her business or property, or any
    such partnership;

 

	 	(c)	he/she
    has never been convicted of fraud in a civil or criminal proceeding;

 

	 	(d)	he/she
    has never been convicted in a criminal proceeding or named the subject of a pending criminal proceeding (excluding traffic
    violations and minor offenses);

 

    3

     

    

 

	 	(e)	he/she
    has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court
    of competent jurisdiction, permanently or temporarily enjoining or otherwise limiting him/her from (i) acting as a futures
    commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction
    merchant, any other person regulated by the Commodity Futures Trading Commission (“CFTC”) or an
    associated person of any of the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as
    an affiliated person, director or employee of any investment company, bank, savings and loan association or insurance company,
    or from engaging in or continuing any conduct or practice in connection with any such activity; or (ii) engaging in any
    type of business practice; or (iii) engaging in any activity in connection with the purchase or sale of any security
    or commodity or in connection with any violation of federal or state securities or federal commodities laws;

 

	 	(f)	he/she
    has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any federal
    or state authority barring, suspending or otherwise limiting for more than 60 days your right to engage in any activity described
    in 9(e)(i) above, or to be associated with persons engaged in any such activity;

 

	 	(g)	he/she
    has never been found by a court of competent jurisdiction in a civil action or by the SEC to have violated any federal or
    state securities law, where the judgment in such civil action or finding by the SEC has not been subsequently reversed, suspended
    or vacated;

 

	 	(h)	he/she
    has never been found by a court of competent jurisdiction in a civil action or by the CFTC to have violated any federal commodities
    law, where the judgment in such civil action or finding by the CFTC has not been subsequently reversed, suspended or vacated;

 

	 	(i)	he/she
    has never been the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree or finding,
    not subsequently reversed, suspended or vacated, relating to an alleged violation of (i) any Federal or State securities
    or commodities law or regulation, (ii) any law or regulation respecting financial institutions or insurance companies
    including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty
    or temporary or permanent cease-and desist order, or removal or prohibition order or (iii) any law or regulation
    prohibiting mail or wire fraud or fraud in connection with any business entity;

 

	 	(j)	he/she
    has never been the subject of, or party to, any sanction or order, not subsequently reversed, suspended or vacated, or any
    self-regulatory organization, any registered entity, or any equivalent exchange, association, entity or organization that
    has disciplinary authority over its members or persons associated with a member;

 

	 	(k)	he/she
    has never been convicted of any felony or misdemeanor: (i) in connection with the purchase or sale of any security; (ii) involving
    the making of any false filing with the SEC; or (iii) arising out of the conduct of the business of an underwriter, broker,
    dealer, municipal securities dealer, investment advisor or paid solicitor of purchasers of securities;

 

	 	(l)	he/she
    was never subject to a final order of a state securities commission (or an agency of officer of a state performing like functions);
    a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission
    (or an agency or officer of a state performing like functions); an appropriate federal banking agency; the Commodity Futures
    Trading Commission; or the National Credit Union Administration that is based on a violation of any law or regulation that
    prohibits fraudulent, manipulative, or deceptive conduct;

 

	 	(m)	he/she
    has never been subject to any order, judgment or decree of any court of competent jurisdiction, that, at the time of such
    sale, restrained or enjoined him/her from engaging or continuing to engage in any conduct or practice: (i) in connection
    with the purchase or sale of any security; (ii) involving the making of any false filing with the SEC; or (iii) arising
    out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser or paid
    solicitor of purchasers of securities;

 

    4

     

    

 

	 	(n)	he/she
    has never been subject to any order of the SEC that orders him/her to cease and desist from committing or causing a future
    violation of: (i) any scienter-based anti-fraud provision of the federal securities laws, including, but not limited
    to, Section 17(a)(1) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder,
    and Section 206(1) of the Advisers Act or any other rule or regulation thereunder; or (ii) Section 5 of the
    Securities Act;

 

	 	(o)	he/she
    has never been named as an underwriter in any registration statement or Regulation A offering statement filed with the SEC
    that was the subject of a refusal order, stop order, or order suspending the Regulation A exemption, or is, currently, the
    subject of an investigation or proceeding to determine whether a stop order or suspension order should be issued;

 

	 	(p)	he/she
    has never been subject to a United States Postal Service false representation order, or is currently subject to a temporary
    restraining order or preliminary injunction with respect to conduct alleged by the United States Postal Service to constitute
    a scheme or device for obtaining money or property through the mail by means of false representations;

 

	 	(q)	he/she
    is not subject to a final order of a state securities commission (or an agency of officer of a state performing like functions);
    a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission
    (or an agency or officer of a state performing like functions); an appropriate federal banking agency; the Commodity Futures
    Trading Commission; or the National Credit Union Administration that bars the undersigned from: (i) association with
    an entity regulated by such commission, authority, agency or officer; (ii) engaging in the business of securities, insurance
    or banking; or (iii) engaging in savings association or credit union activities;

 

	 	(r)	he/she
    is not subject to an order of the SEC entered pursuant to section 15(b) or 15B(c) of the Exchange Act or section 203(e) or
    203(f) of the Investment Advisers Act of 1940 that: (i) suspends or revokes the undersigned’s registration as a
    broker, dealer, municipal securities dealer or investment adviser; (ii) places limitations on the activities, functions
    or operations of, or imposes civil money penalties on, such person; or (iii) bars the undersigned from being associated
    with any entity or from participating in the offering of any penny stock; and

 

	 	(s)	he/she
    has never been suspended or expelled from membership in, or suspended or barred from association with a member of, a securities
    self-regulatory organization (e.g., a registered national securities exchange or a registered national or affiliated securities
    association) for any act or omission to act constituting conduct inconsistent with just and equitable principles of trade.][For
    director and officer letters only]

 

8.
The undersigned has full right and power, without violating any agreement by which he or she is bound, to enter into this letter
agreement [and to serve as an officer and/or director of the Company].

 

9.
The undersigned hereby waives any right to exercise redemption rights with respect to any shares of the Common Stock owned or
to be owned by the undersigned, directly or indirectly (or to sell such shares to the Company in a tender offer), whether such
shares be part of the Class B Common Stock or shares purchased by the undersigned in the IPO or in the aftermarket, and agrees
that he/she will not seek redemption with respect to such shares in connection with any vote to approve a Business Combination
(or sell such shares to the Company in a tender offer in connection with such a Business Combination).

 

10.
The undersigned hereby agrees to not propose, or vote in favor of, an amendment to the Charter to modify the ability of holders
of IPO Shares to have their shares redeemed or sell their shares to the Company in connection with a Business Combination, modify
the substance or timing of the Company’s obligation to redeem 100% of the IPO Shares if the Company does not complete an
initial Business Combination within the time period required by the Charter or with respect to any other material provisions relating
to stockholders’ rights or pre-initial business combination activity unless the Company provides public stockholders with
the opportunity to have their IPO Shares redeemed upon such approval in accordance with the Charter.

 

    5

     

    

 

11.
This letter agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without
giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
The undersigned hereby (i) agrees that any action, proceeding or claim against him arising out of or relating in any way
to this letter agreement (a “Proceeding”) shall be brought and enforced in the courts of the State of
New York of the United States of America for the Southern District of New York, and irrevocably submits to such jurisdiction,
which jurisdiction shall be exclusive, (ii) waives any objection to such exclusive jurisdiction and that such courts represent
an inconvenient forum and (iii) irrevocably agrees to appoint Graubard Miller as agent for the service of process in the
State of New York to receive, for the undersigned and on his/her behalf, service of process in any Proceeding. If for any reason
such agent is unable to act as such, the undersigned will promptly notify the Company and the Representative and appoint a substitute
agent acceptable to each of the Company and the Representative within 30 days and nothing in this letter will affect the right
of either party to serve process in any other manner permitted by law.

 

12. To the extent that
the Underwriters do not exercise their over-allotment option to purchase up to an additional 1,500,000 Units within 45 days from
the date of the Prospectus (and as further described in the Prospectus), the initial stockholders agree to forfeit, at no cost,
a number of shares of Class B Common Stock in the aggregate equal to 375,000 multiplied by a fraction, (i) the numerator of which
is 1,500,000 minus the number of Units purchased by the Underwriters upon the exercise of their over-allotment option, and (ii)
the denominator of which is 1,500,000. The forfeiture will be adjusted to the extent that the over-allotment option is not exercised
in full by the Underwriters so that the initial stockholders will own an aggregate of 20.0% of the Company’s issued and outstanding
shares of Common Stock after the Public Offering.

 

13. As used herein,
(i) a “Business Combination” means a merger, share exchange, asset acquisition, stock purchase,
recapitalization, reorganization or other similar business combination with one or more businesses or entities; (ii) “Insiders”
means all officers, directors, sponsors and initial stockholders of the Company immediately prior to the IPO; (iii) “IPO
Shares” means the shares of Common Stock issued in the Company’s IPO; (iv) “Class B Common Stock”
means the Company’s Class B common stock, par value $0.0001 per share; (v) “Common Stock” means
the Class A Common Stock and Class B Common Stock; (vi) “initial stockholders” means all of the holders
of Class B Common Stock; (vii) “Trust Account” means the trust account into which a portion of the net
proceeds of the Company’s IPO and sale of private placement warrants will be deposited; (viii) “Registration
Statement” means the Company’s registration statement on Form S-1 (SEC File No. 333-249098) filed
with the Securities and Exchange Commission; and (ix) “Private Placement Warrants” means the Warrants
being sold in a private placement simultaneously with consummation of the IPO.

 

14.
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 all parties hereto.

 

15.
The undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations
and warranties set forth herein in proceeding with the IPO. Nothing contained herein shall be deemed to render the Underwriters
a representative of, or a fiduciary with respect to, the Company, its stockholders or any creditor or vendor of the Company with
respect to the subject matter hereof.

 

16.
This letter agreement shall be binding on the undersigned and such person’s respective successors, heirs, personal representatives
and assigns. This letter agreement shall terminate on the earlier of (i) the expiration of the transfer restrictions on the Class
B Common Stock contained in Section 6 hereof and (ii) the liquidation of the Company; provided, that such termination
shall not relieve the undersigned from liability for any breach of this agreement prior to its termination.

 

[Signature
Page Follows]

 

    6

     

    

 

	 	 
	 	Print Name of Insider
	 	 
	 	 
	 	Signature
	 	 
	 	Acknowledged and Agreed:
	 	 
	 	EDTECHX HOLDINGS ACQUISITION CORP.
    II
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

 

7

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