Document:

EX-10.1

 Exhibit 10.1 

March 1, 2021 
 NightDragon Acquisition Corp. 

101 Second Street, Suite 1275 
 San Francisco, California 94105

  

	 	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 among NightDragon Acquisition Corp., a
Delaware corporation (the “Company”), and Morgan Stanley & Co. LLC, as the representative of the several underwriters named therein (the “Underwriters”), relating to an underwritten initial
public offering (the “Public Offering”), of 34,500,000 of the Company’s units (including up to 4,500,000 units that may be purchased solely to cover over-allotments, if any) (the “Units”), each
comprised of one share of the Company’s Class A common stock, par value $0.00001 per share (the “Class A Common Stock”), and one-fifth of one
redeemable warrant. Each whole warrant (each, a “Warrant”) entitles the holder thereof to purchase one share of Class A Common Stock at a price of $11.50 per share, subject to adjustment. The Units will be sold in the
Public Offering pursuant to a registration statement on Form S-1 (File No. 333-252909) and prospectus (the “Prospectus”) filed by the
Company with the U.S. Securities and Exchange Commission (the “Commission”) and the Company has applied to have the Units listed on The Nasdaq Capital Market. Certain capitalized terms used herein are defined in
Section 13 hereof. 
 In order to induce the Company and the Underwriters to enter into the Underwriting Agreement and to proceed with
the Public Offering and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each of NightDragon Acquisition Sponsor, LLC (the “Sponsor”) and the undersigned individuals,
each of whom is a member of the Company’s board of directors, management team and/or is an advisor to the Company (each, an “Insider” and collectively, the “Insiders”), hereby agrees with the
Company as follows: 
 1. The Sponsor and each Insider agrees that if the Company seeks stockholder approval of a proposed Business
Combination, then in connection with such proposed Business Combination, it, he or she shall (i) vote any shares of Capital Stock owned by it, him or her (whether acquired before or after the date hereof) in favor of any proposed Business
Combination and (ii) not redeem any shares of Capital Stock owned by it, him or her (whether acquired before or after the date hereof) in connection with such stockholder approval. If the Company engages in a tender offer in connection with any
proposed Business Combination, the Sponsor and each Insider agrees that it, he or she will not seek to sell its, his or her shares of Capital Stock (whether acquired before or after the date hereof) to the Company in connection with such tender
offer. 
 2. The Sponsor and each Insider hereby agrees that in the event that the Company fails to consummate a Business Combination within
24 months from the closing of the Public Offering (or 27 months from the closing of the Public Offering if the Company has executed a letter of intent, agreement in principle or definitive agreement for a Business Combination within 24 months from
the closing of the Public Offering) or such later period as may be approved by the Company’s stockholders in accordance with the Company’s amended and restated certificate of incorporation (the “Charter”), the
Sponsor and each Insider shall take all reasonable steps to cause the Company to (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than 10 business days thereafter, redeem
100% of the Class A Common Stock sold as part of the Units in the Public Offering (the “Offering Shares”), at a per-share price, 

 
payable in cash and out of funds legally available therefor, equal to the aggregate amount then on deposit in the Trust Account (as defined below), including interest earned on the funds held in
the Trust Account and not previously released to the Company to pay its taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Offering Shares, which redemption will completely extinguish all
Public Stockholders’ rights as stockholders (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the
approval of the Company’s remaining stockholders and the Company’s board of directors, dissolve and liquidate, subject in each case to the Company’s obligations under Delaware law to provide for claims of creditors and other
requirements of applicable law. The Sponsor and each Insider agrees not to propose any amendment to the Charter (i) to modify the substance or timing of the Company’s obligation to allow redemption in connection with a Business Combination
or to redeem 100% of the Offering Shares if the Company does not complete a Business Combination within 24 months from the closing of the Public Offering, or 27 months from the closing of the Public Offering if the Company has executed a letter of
intent, agreement in principle or definitive agreement for a Business Combination within 24 months from the closing of the Public Offering or (ii) with respect to any other provision relating to stockholders’ rights or pre-Business Combination activity, unless the Company provides the Public Stockholders with the opportunity to redeem their shares of Class A Common Stock upon approval of any such amendment at a per-share price, payable in cash and out of funds legally available therefor, equal to the aggregate amount then on deposit in the Trust Account, including interest (which interest shall be net of taxes payable)
divided by the number of then outstanding Offering Shares. 
 The Sponsor and each Insider acknowledges that it, he or she has no right,
title, interest or claim of any kind in or to any monies held in the Trust Account or any other asset of the Company as a result of any liquidation of the Company with respect to the shares of Class B Common Stock or Private Placement Shares
held by it, him or her. The Sponsor and each Insider hereby further waives, with respect to any shares of Class A Common Stock held by it, him or her, if any (whether acquired before or after the date hereof), any redemption rights it, he or
she may have in connection with the consummation of a Business Combination, including, without limitation, any such rights available in the context of (i) a stockholder vote to approve such Business Combination, (ii) a stockholder vote to
approve an amendment to the Charter (A) to modify the substance or timing of the Company’s obligation to allow redemption in connection with a Business Combination or to redeem 100% of the Offering Shares if the Company does not complete a
Business Combination within 24 months from the closing of the Public Offering, or 27 months from the closing of the Public Offering if the Company has executed a letter of intent, agreement in principle or definitive agreement for a Business
Combination within 24 months from the closing of the Public Offering or (B) with respect to any other provision relating to stockholders’ rights or pre-Business Combination activity, unless the
Company provides the Public Stockholders with the opportunity to redeem their shares of Class A Common Stock upon approval of any such amendment at a per-share price, payable in cash and out of funds
legally available therefor, equal to the aggregate amount then on deposit in the Trust Account, including interest (which interest shall be net of taxes payable) divided by the number of then outstanding Offering Shares, or (iii) in the context
of a tender offer made by the Company to purchase shares of Class A Common Stock (although the Sponsor, the Insiders and their respective affiliates shall be entitled to liquidation distributions with respect to any Offering Shares it or they
hold if the Company fails to consummate a Business Combination within the time period set forth in the Charter). 
 3. The Sponsor and each
Insider acknowledges and agrees that prior to entering into a definitive agreement for a Business Combination with a target business that is affiliated with the Sponsor or any Insider 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 that such Business Combination is fair to the Company from a financial point of view.

 4. During the period commencing on the date of the Underwriting Agreement and ending 180
days after such date, the Sponsor and each Insider shall not, other than to permitted transferees as described in and subject to Section 9(c) below, without the prior written consent of Morgan Stanley & Co. LLC, offer, sell, contract
to sell, pledge or otherwise dispose of (or enter into any transaction that is designed to, or might reasonably be expected to, result in the disposition of (whether by actual disposition or effective economic disposition due to cash settlement or
otherwise) by the Sponsor or such Insider or any affiliate of the Sponsor or such Insider or any person in privity with the Sponsor or such Insider or any affiliate of the Sponsor or such Insider), directly or indirectly, 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 (the “Exchange Act”), and the rules and regulations of the
Commission promulgated thereunder (“Section 16”), with respect to any Units, shares of Capital Stock, Warrants or any securities convertible into, or exercisable, or exchangeable for, shares
of Capital Stock owned by it, him or her, or publicly announce an intention to effect any such transaction; provided, however, for the avoidance of doubt, that the foregoing restrictions shall not apply to the forfeiture of a portion of the
Class B Common Stock pursuant to Section 6 of this Agreement. The provisions of this Section will not apply if (i) the release or waiver is effected solely to permit a transfer of securities without consideration and (ii) the
transferee has agreed in writing to be bound by the same terms described in this Letter Agreement to the extent and for the duration that such terms remain in effect at the time of the transfer. 

5. In the event of the liquidation of the Trust Account upon the failure of the Company to consummate its Business Combination within the time
period set forth in the Charter, the Sponsor (the “Indemnitor”) agrees to indemnify and hold harmless the Company against any and all loss, liability, claim, damage and expense whatsoever (including, but not limited to, any
and all legal or other expenses reasonably incurred in investigating, preparing or defending against any litigation, whether pending or threatened) to which the Company may become subject as a result of any claim by (i) any third party for
services rendered or products sold to the Company or (ii) any prospective target business with which the Company has entered into a written letter of intent, confidentiality or other similar agreement or Business Combination agreement (a
“Target”); provided, however, that such indemnification of the Company by the Indemnitor shall (x) apply only to the extent necessary to ensure that such claims by a third party or a Target do not reduce the amount of
funds in the Trust Account to below the lesser of (i) $10.00 per Offering Share and (ii) the actual amount per Offering Share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than $10.00 per Offering
Share is then held in the Trust Account due to reductions in the value of the trust assets, less interest earned on the Trust Account which may be withdrawn to pay taxes, (y) not apply to any claims by a third party or a Target which executed a
waiver of any and all rights to the monies held in the Trust Account (whether or not such waiver is enforceable) and (z) not apply to any claims under the Company’s indemnity of the Underwriters against certain liabilities, including
liabilities under the Securities Act of 1933, as amended. The Indemnitor shall have the right to defend against any such claim with counsel of its choice reasonably satisfactory to the Company if, within 15 days following written receipt of notice
of the claim to the Indemnitor, the Indemnitor notifies the Company in writing that it shall undertake such defense. 
 6. To the extent
that the Underwriters do not exercise their over-allotment option to purchase up to an additional 4,500,000 Units in full within 45 days from the date of the Prospectus (and as further described in the Prospectus), the Sponsor agrees to forfeit, at
no cost, a number of shares of Class B Common Stock in the aggregate equal to 1,125,000 multiplied by a fraction, (i) the numerator of which is 4,500,000 minus the number of Units purchased by the Underwriters upon the exercise of their
over-allotment option, and (ii) the denominator of which is 4,500,000. The Sponsor will be required to forfeit only that number of shares of Class B Common Stock as is necessary so that it will own an aggregate of 20.0% of the
Company’s issued and outstanding shares of Capital Stock after the Public Offering (not including the Private Placement Shares). 

 7. The Sponsor and each Insider agrees not to participate in the formation of, or become an
officer or director of, any special purpose acquisition company with a class of securities registered under the Exchange Act, other than the Company, until the Company has entered into a definitive agreement regarding a Business Combination or the
Company has failed to complete a Business Combination within the time period specified in the Company’s Charter or during any extended time to consummate a business combination beyond 24 months as a result of a stockholder vote to amend the
Company’s Charter. 
 8. The Sponsor and each Insider hereby agrees and acknowledges that: (i) the Underwriters and the Company
would be irreparably injured in the event of a breach by such Sponsor or an Insider of its, his or her obligations under Sections 1, 2, 4, 5, 6, 9(a), 9(b), and 11, as applicable, of this Letter Agreement (ii) monetary damages may not be an
adequate remedy for such breach and (iii) the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that such party may have in law or in equity, in the event of such
breach. 
 9. (a) The Sponsor and each Insider agrees that it, he or she shall not Transfer its, his or her shares of Class B Common
Stock (or the shares of Class A Common Stock into which such shares are convertible) until the earlier of (A) six months after the date of the consummation of the Company’s Business Combination and (B) the date on which the
Company consummates a subsequent liquidation, merger, reorganization or other similar transaction which results in all of the Public Stockholders having the right to exchange their shares of Class A Common Stock for cash, securities or other
property (the “Class B Common Stock Lock-up Period”). 

(b) The Sponsor and each Insider agrees that it, he or she shall not Transfer any Private Placement Units, the Private Placement Shares, the
Private Placement Warrants or shares of Class A Common Stock issued or issuable upon the exercise of the Private Placement Warrants, until 30 days after the completion of the Company’s Business Combination (the “Private
Placement Units Lock-up Period”, together with the Class B Common Stock Lock-up Period, the “Lock-up
Periods”). 
 (c) Notwithstanding the provisions set forth in Sections 9(a) and (b), Transfers of the Class B Common
Stock, Private Placement Units, Private Placement Shares, Private Placement Warrants and shares of Class A Common Stock issued or issuable upon the exercise or conversion of the Private Placement Warrants or the Class B Common Stock that
are held by the Sponsor, any Insider or any of their permitted transferees (that have complied with this Section 9(c)), are permitted (a) to the Company’s officers, directors, advisors, any affiliate or family member of any of the
Company’s officers, directors or advisors or any members or partners of the Sponsor or their affiliates, any affiliates of the Sponsor, or any employees of such affiliates; (b) in the case of an individual, by gift to a member of such
individual’s immediate family or to a trust, the beneficiary of which is a member of such individual’s immediate family, an affiliate of such individual or to a charitable organization; (c) in the case of an individual, by virtue of
laws of descent and distribution upon death of the individual; (d) in the case of an individual, pursuant to a qualified domestic relations order; (e) by private sales or transfers made in connection with the consummation of a Business
Combination at prices no greater than the price at which the securities were originally purchased; (f) by virtue of our Sponsor’s organizational documents upon liquidation or dissolution of the Sponsor; (g) to the Company for no value
for cancellation in connection with the completion of a Business Combination; (h) in the event of the Company’s liquidation prior to the completion of a Business Combination; or (i) in the event of the Company’s completion of a
liquidation, merger, or other similar transaction which results in all Public Stockholders having the right to exchange their Class A Common Stock for cash, securities or other property subsequent to the completion of a Business Combination;
provided, however, that in the case of clauses (a) through (f), these permitted transferees must enter into a written agreement with the Company agreeing to be bound by the transfer restrictions herein. 

 10. The Sponsor and each Insider represents and warrants that it, he or she has never been
suspended or expelled from membership in any securities or commodities exchange or association or had a securities or commodities license or registration denied, suspended or revoked. Each Insider’s biographical information furnished to the
Company (including any such information included in the Prospectus) is true and accurate in all respects and does not omit any material information with respect to the Insider’s background. Each Insider’s questionnaire furnished to the
Company is true and accurate in all respects. Each Insider represents and warrants that: it, he or she is not subject to or a respondent in any legal action for, any injunction,
cease-and-desist order or order or stipulation to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction; it, he or she
has never been convicted of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any financial transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and it, he or
she is not currently a defendant in any such criminal proceeding. 
 11. Except as disclosed in the Prospectus, neither the Sponsor nor any
officer, director, advisor or any affiliate of the Sponsor, officer, director or advisor of the Company, shall receive from the Company any finder’s fee, reimbursement, consulting fee, monies in respect of any repayment of a loan or other
compensation prior to, or in connection with any services rendered in order to effectuate, the consummation of the Company’s Business Combination (regardless of the type of transaction that it is). 

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

13. As used herein, (i) “Business Combination” shall mean a merger, capital stock exchange, asset acquisition, stock
purchase, reorganization or similar business combination, involving the Company and one or more businesses; (ii) “Capital Stock” shall mean, collectively, the Class A Common Stock and the 8,625,000 shares of the
Company’s Class B common stock, par value $0.00001 per share (the “Class B Common Stock) purchased by the Sponsor in a private placement, up to 1,125,000 shares of which are subject to
forfeiture by the Sponsor if the over-allotment option is not exercised by the Underwriters; (iii) “Private Placement Shares” shall mean the 900,000 shares (or up to 1,035,000 shares if the over-allotment option is exercised
in full) of Class A Common Stock comprising the Private Placement Units; (iv) “Private Placement Units” shall mean the 900,000 units (or up to 1,035,000 units if the over-allotment option is exercised in
full), each comprised of one share of Class A Common Stock and one-fifth of one warrant to purchase one share of Class A Common Stock, that the Sponsor has agreed to purchase for an aggregate
purchase price of $9,000,000 in the aggregate (or up to $10,350,000 if the over-allotment option is exercised in full), or a purchase price of $10.00 per Private Placement Unit, in a private placement that shall occur simultaneously with the
consummation of the Public Offering; (v) “Private Placement Warrants” shall mean the Warrants to purchase up to 180,000 shares of Class A Common Stock (or up to 207,000 shares of Class A Common Stock if the
over-allotment option is exercised in full) that are part of the Private Placement Units; (vi) “Public Stockholders” shall mean the holders of securities issued in the Public Offering; (vii) “Trust
Account” shall mean the trust fund into which a portion of the net proceeds of the Public Offering shall be deposited; and (viii) “Transfer” shall mean the offer, sale, contract to sell, pledge, or other
disposition of (or entry into any transaction that is designed to, or might reasonably be expected to, result in the disposition of (whether by actual disposition or effective economic disposition due to cash settlement or otherwise)),
directly or indirectly, or the establishment or increase of a put equivalent position or liquidation or decrease of a call equivalent position within the meaning of Section 16, and the rules and regulations of the Commission promulgated
thereunder, with respect to, any security, or the public announcement of an intention to effect any such transaction. 

 14. The Company will maintain an insurance policy or policies providing directors’ and
officers’ liability insurance, and each director or officer shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for any of the Company’s directors or officers.

 15. 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, except that any waiver need only be executed by
the party waiving its rights hereunder. 
 16. No party hereto may assign either this Letter Agreement or any of its rights, interests or
obligations hereunder without the prior written consent of the other parties. Any purported assignment in violation of this Section shall be void and ineffectual and shall not operate to transfer or assign any interest or title to the purported
assignee. This Letter Agreement shall be binding on the Sponsor and each Insider and their respective successors, heirs and assigns and permitted transferees. 

17. Nothing in this Letter Agreement shall be construed to confer upon, or give to, any person or entity other than the parties hereto any
right, remedy or claim under or by reason of this Letter Agreement or of any covenant, condition, stipulation, promise or agreement hereof. All covenants, conditions, stipulations, promises and agreements contained in this Letter Agreement shall be
for the sole and exclusive benefit of the parties hereto and their successors, heirs, personal representatives and assigns and permitted transferees. 

18. This Letter Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all
purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. 
 19. This
Letter Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability of this Letter Agreement or of any other term or provision hereof. Furthermore, in
lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Letter Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be
valid and enforceable. 
 20. 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 parties hereto (i) all agree that any action, proceeding, claim or dispute arising out
of, or relating in any way to, this Letter Agreement shall be brought and enforced in the courts of New York City, in the State of New York, and irrevocably submit to such jurisdiction and venue, which jurisdiction and venue shall be exclusive and
(ii) waive any objection to such exclusive jurisdiction and venue or that such courts represent an inconvenient forum. 
 21. Any
notice, consent or request to be given in connection with any of the terms or provisions of this Letter Agreement shall be in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested),
by hand delivery, facsimile transmission, or e-mail. 
 22. This Letter Agreement shall terminate on
the earlier of (i) the expiration of the Lock-up Periods or (ii) the liquidation of the Company; provided, however, that this Letter Agreement shall earlier terminate in the event that the Public
Offering is not consummated and closed by June 30, 2021; provided further that Section 5 of this Letter Agreement shall survive such liquidation. 

 23. The Company, the Sponsor and each Insider hereby acknowledges and agrees that the
Underwriters are third party beneficiaries of this Letter Agreement. 
 [Signature Page Follows] 

 Sincerely, 
  

			
	NIGHTDRAGON ACQUISITION SPONSOR, LLC
	
	E-mail addresses for notices to NightDragon Acquisition Sponsor, LLC: [***]
		
	By:	 	 /s/ David DeWalt

	Name:	 	David DeWalt
	Title:	 	Manager
		
	By:	 	 /s/ Morgan Kyauk

	Name:	 	Morgan Kyauk
	Title:	 	Manager

 
	
	
	 /s/ David DeWalt

	David DeWalt
	E-mail address for notices to David DeWalt: [***]
	
	 /s/ Morgan Kyauk

	Morgan Kyauk
	E-mail address for notices to Morgan Kyauk: [***]
	
	 /s/Mark Garrett

	Mark Garrett
	E-mail address for notices to Mark Garrett: [***]
	
	 /s/ Ken Gonzalez

	Ken Gonzalez
	E-mail address for notices to Ken Gonzalez: [***]
	
	 /s/ Steve Simonian

	Steve Simonian
	E-mail address for notices to Steve Simonian: [***]
	
	 /s/ Barbara Massa

	Barbara Massa
	E-mail address for notices to Barbara Massa: [***]
	
	 /s/ Kara Wilson

	Kara Wilson
	E-mail address for notices to Kara Wilson: [***]

  
 [Signature Page to
Letter Agreement] 

 Acknowledged and Agreed: 
  

			
	NIGHTDRAGON ACQUISITION CORP.
	
	E-mail address for notices to NightDragon Acquisition Corp.: [***]
		
	By:	 	 /s/ Morgan Kyauk

	Name:	 	Morgan Kyauk
	Title:	 	Chief Executive Officer

  
 [Signature Page to
Letter Agreement]EX-10.2

 Exhibit 10.2 

INVESTMENT MANAGEMENT TRUST AGREEMENT 

This Investment Management Trust Agreement (this “Agreement”) is made effective as of March 1, 2021 by and
between NightDragon Acquisition Corp., a Delaware corporation (the “Company”), and American Stock Transfer & Trust Company, LLC, a New York limited liability trust company (the “Trustee”).

 WHEREAS, the Company’s registration statement on Form S-1,
No. 333-252909 (the “Registration Statement”) and prospectus (the “Prospectus”) for the initial public offering of the Company’s SCALE units (the
“Units”), each of which consists of one share of the Company’s Class A common stock, par value $0.00001 per share (the “Common Stock”), and one-fifth
of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one share of Common Stock (such initial public offering hereinafter referred to as the “Offering”), has been declared effective as of the
date hereof by the U.S. Securities and Exchange Commission; and 
 WHEREAS, the Company has entered into an Underwriting Agreement (the
“Underwriting Agreement”) with Morgan Stanley & Co. LLC, as representative of the several underwriters named therein (the “Underwriters”); and 

WHEREAS, as described in the Prospectus, $300,000,000 of the gross proceeds of the Offering and sale of the Private Placement Units (as
defined in the Underwriting Agreement) (or $345,000,000 if the Underwriters’ option to purchase additional Units is exercised in full) will be delivered to the Trustee to be deposited and held in a segregated trust account located at all times
in the United States (the “Trust Account”) for the benefit of the Company and the holders of the Common Stock included in the Units issued in the Offering as hereinafter provided (the amount to be delivered to the Trustee
(and any interest subsequently earned thereon) is referred to herein as the “Property,” the stockholders for whose benefit the Trustee shall hold the Property will be referred to as the “Public
Stockholders,” and the Public Stockholders and the Company will be referred to together as the “Beneficiaries”); and 

WHEREAS, pursuant to the Underwriting Agreement, a portion of the Property equal to $10,500,000, or $12,075,000 if the Underwriters’
option to purchase additional Units is exercised in full, is attributable to deferred underwriting discounts and commissions that will be payable by the Company to the Underwriters upon and concurrently with the consummation of the Business
Combination (as defined below) (the “Deferred Discount”); and 
 WHEREAS, the Company and the Trustee desire to
enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee shall hold the Property. 
 NOW THEREFORE, IT
IS AGREED: 
 1. Agreements and Covenants of Trustee. The Trustee hereby agrees and covenants to: 

(a) Hold the Property in trust for the Beneficiaries in accordance with the terms of this Agreement in the Trust Account established by the
Trustee in the United States at Bank of America, National Association (or at another U.S. chartered commercial bank with consolidated assets of $100 billion or more), and at a brokerage institution selected by the Trustee that is reasonably
satisfactory to the Company; 
 (b) Manage, supervise and administer the Trust Account subject to the terms and conditions set forth herein;

  
 1 

 (c) In a timely manner, upon the written instruction of the Company, invest and reinvest the
Property in United States “government securities” within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended, having a maturity of 185 days or less, or in money market funds meeting the conditions of
paragraphs (d)(1), (d)(2), (d)(3) and (d)(4) of Rule 2a-7 promulgated under the Investment Company Act of 1940, as amended (or any successor rule), which invest only in direct U.S. government treasury
obligations, as determined by the Company it being understood that the Trustee has no obligation to monitor or question the Company’s determination that an investment is in compliance with the foregoing clause; the Company shall not instruct
the Trustee to invest in any other securities or assets, it being understood that the Trust Account will earn no interest while account funds are uninvested awaiting the Company’s instructions hereunder; 

(d) Collect and receive, when due, all interest or other income arising from the Property, which shall become part of the
“Property,” as such term is used herein; 
 (e) Promptly notify the Company and Morgan Stanley & Co. LLC of
all communications received by the Trustee with respect to any Property requiring action by the Company; 
 (f) Supply any necessary
information or documents as may be requested by the Company (or its authorized agents) in connection with the Company’s preparation of the tax returns relating to assets held in the Trust Account; 

(g) Participate in any plan or proceeding for protecting or enforcing any right or interest arising from the Property if, as and when
instructed by the Company to do so; 
 (h) Render to the Company monthly written statements of the activities of, and amounts in, the Trust
Account reflecting all receipts and disbursements of the Trust Account; 
 (i) Commence liquidation of the Trust Account only after and
promptly after (x) receipt of, and only in accordance with, the terms of a letter from the Company (“Termination Letter”) in a form substantially similar to that attached hereto as either Exhibit A
or Exhibit B, as applicable, signed on behalf of the Company by its Chief Executive Officer, President, Chief Financial Officer, Secretary or Chairman of the board of directors of the Company (the “Board”) or other
authorized officer of the Company, and complete the liquidation of the Trust Account and distribute the Property in the Trust Account, including interest not previously released to the Company to pay its taxes, only as directed in the Termination
Letter and the other documents referred to therein, or (y) upon the date which is the later of (i) 24 months after the closing of the Offering (or 27 months after the closing of the Offering if the Company has executed a letter of intent,
agreement in principle or definitive agreement for an initial business combination within 24 months after the closing of the Offering) and (ii) such later date as may be approved by the Company’s stockholders in accordance with the
Company’s amended and restated certificate of incorporation, if a Termination Letter has not been received by the Trustee prior to such date, in which case the Trust Account shall be liquidated in accordance with the procedures set forth in the
Termination Letter attached as Exhibit B and the Property in the Trust Account, including interest not previously released to the Company to pay its taxes (less up to $100,000 of interest that may be released to the Company
to pay dissolution expenses) shall be distributed to the Public Stockholders of record as of such date; provided, however, that in the event the Trustee receives a Termination Letter in a form substantially similar to Exhibit B
hereto, or if the Trustee begins to liquidate the Property because it has received no such Termination Letter by the date specified in clause (y) of this Section 1(i), the Trustee shall keep the Trust Account open until twelve
(12) months following the date the Property has been distributed to the Public Stockholders; 
 (j) Upon written request from the
Company, which may be given from time to time in a form substantially similar to that attached hereto as Exhibit C, withdraw from the Trust Account and 

  
 2 

 
distribute to the Company the amount of interest earned on the Property requested by the Company to cover any tax obligation owed by the Company as a result of assets of the Company or interest
or other income earned on the Property, which amount shall be delivered directly to the Company by electronic funds transfer or other method of prompt payment, and the Company shall forward such payment to the relevant taxing authority;
provided, however, that to the extent there is not sufficient cash in the Trust Account to pay such tax obligation, the Trustee shall liquidate such assets held in the Trust Account as shall be designated by the Company in writing to
make such distribution so long as there is no reduction in the principal amount initially deposited in the Trust Account; provided, further, that if the tax to be paid is a franchise tax, the written request by the Company to make such
distribution shall be accompanied by a copy of the franchise tax bill from the State of Delaware for the Company and a written statement from the principal financial officer of the Company setting forth the actual amount payable. The written request
of the Company referenced above shall constitute presumptive evidence that the Company is entitled to said funds, and the Trustee shall have no responsibility to look beyond said request (it being acknowledged and agreed that any such amount in
excess of interest income earned on the Property shall not be payable from the Trust Account); 
 (k) Upon written request from the Company,
which may be given from time to time in a form substantially similar to that attached hereto as Exhibit D, the Trustee shall distribute to the Public Stockholders of record as of such date the amount requested by the Company to be used to
redeem shares of Common Stock from Public Stockholders properly submitted in connection with a stockholder vote to approve an amendment to the Company’s amended and restated certificate of incorporation (i) to modify the substance or
timing of the Company’s obligation to redeem 100% of its public shares of Common Stock if the Company has not consummated an initial Business Combination within such time as is described in the Company’s amended and restated certificate of
incorporation or (ii) with respect to any other provision relating to stockholders’ rights or pre-initial Business Combination activity. The written request of the Company referenced above shall
constitute presumptive evidence that the Company is entitled to distribute said funds, and the Trustee shall have no responsibility to look beyond said request; and 

(l) Not make any withdrawals or distributions from the Trust Account other than pursuant to Section 1(i), (j)
or (k) above. 
 2. Agreements and Covenants of the Company. The Company hereby agrees and covenants to: 

(a) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, President, Chief Executive
Officer, Chief Financial Officer or Secretary. In addition, except with respect to its duties under Sections 1(i), 1(j) and 1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any such
written instructions and, further, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the
Company shall promptly confirm such instructions in writing; 
 (b) Subject to Section 4 hereof, hold the Trustee
harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action,
suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest
earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or
proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(b), it shall notify the Company in writing of 

  
 3 

 
such claim (hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim;
provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld or delayed. The Trustee may not agree to settle any Indemnified Claim without the
prior written consent of the Company, which such consent shall not be unreasonably withheld or delayed. The Company may participate in such action with its own counsel; 

(c) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee, and
transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until the consummation of the Business Combination
(as defined below). The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Trustee shall refund to the Company the monthly fee (on a pro rata basis) with respect
to any period after the liquidation of the Trust Account. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(c), Schedule A and as may be provided
in Section 2(b) hereof; 
 (d) In connection with any vote of the Company’s stockholders regarding a merger,
capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or
certificate of the inspector of elections for the stockholder meeting verifying the vote of such stockholders regarding such Business Combination; 

(e) Provide Morgan Stanley & Co. LLC with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the
Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same; 
 (f) Instruct the Trustee to
make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement; 

(g) Within four (4) business days after the Underwriters exercise their option to purchase additional Units (or any unexercised portion
thereof) or such over-allotment expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount, which shall in no event be less than $10,500,000; and 

(h) Unless otherwise agreed between the Company and Morgan Stanley & Co. LLC, ensure that any Instruction Letter (as defined in
Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by Morgan Stanley & Co. LLC prior to any transfer of
the funds held in the Trust Account to the Company or any other person. 
 3. Limitations of Liability. The Trustee shall have no
responsibility or liability to: 
 (a) Imply obligations, perform duties, inquire or otherwise be subject to the provisions of any agreement
or document other than this Agreement and that which is expressly set forth herein; 
 (b) Take any action with respect to the Property,
other than as directed in Section 1 hereof, and the Trustee shall have no liability to any third party except for liability arising out of the Trustee’s gross negligence, fraud or willful misconduct; 

  
 4 

 (c) Institute any proceeding for the collection of any principal and income arising from, or
institute, appear in or defend any proceeding of any kind with respect to, any of the Property unless and until it shall have received instructions from the Company given as provided herein to do so and the Company shall have advanced or guaranteed
to it funds sufficient to pay any expenses incident thereto; 
 (d) Change the investment of any Property, other than in compliance with
Section 1 hereof, and in no event shall the Trustee be liable for the selection of investments or for investment losses incurred thereon or for losses incurred as a result of the liquidation of any such investment prior to the maturity date or
the failure of the Company to provide timely written investment instruction; 
 (e) Refund any depreciation in principal of any Property;

 (f) Assume that the authority of any person designated by the Company to give instructions hereunder shall not be continuing unless
provided otherwise in such designation, or unless the Company shall have delivered a written revocation of such authority to the Trustee; 

(g) The other parties hereto or to anyone else for any action taken or omitted by it, or any action suffered by it to be taken or omitted, in
good faith and in the Trustee’s reasonable best judgment, except for the Trustee’s gross negligence, fraud or willful misconduct. The Trustee may rely conclusively and shall be protected in acting upon any order, notice, demand,
certificate, opinion or advice of counsel (including counsel chosen by the Trustee, which counsel may be the Company’s counsel), statement, instrument, report or other paper or document (not only as to its due execution and the validity and
effectiveness of its provisions, but also as to the truth and acceptability of any information therein contained) which the Trustee believes, in good faith and with reasonable care, to be genuine and to be signed or presented by the proper person or
persons. The Trustee shall not be bound by any notice or demand, or any waiver, modification, termination or rescission of this Agreement or any of the terms hereof, unless evidenced by a written instrument delivered to the Trustee, signed by the
proper party or parties and, if the duties or rights of the Trustee are affected, unless it shall give its prior written consent thereto; 

(h) Verify the accuracy of the information contained in the Registration Statement; 

(i) Provide any assurance that any Business Combination entered into by the Company or any other action taken by the Company is as
contemplated by the Registration Statement; 
 (j) File information returns with respect to the Trust Account with any local, state or
federal taxing authority or provide periodic written statements to the Company documenting the taxes payable by the Company, if any, relating to any interest income earned on the Property; 

(k) Prepare, execute and file tax reports, income or other tax returns and pay any taxes with respect to any income generated by, and
activities relating to, the Trust Account, regardless of whether such tax is payable by the Trust Account or the Company, including, but not limited to, franchise and income tax obligations, except pursuant to Section 1(j)
hereof; or 
 (l) Verify calculations, qualify or otherwise approve the Company’s written requests for distributions pursuant to
Sections 1(i), 1(j) and 1(k) hereof. 
 4. Trust Account Waiver. The Trustee has no right of set-off or any right, title, interest or claim of any kind (“Claim”) to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust
Account that it may have now or in the future. In the event the Trustee has any Claim against the Company under this Agreement, including, without limitation, under Section 2(b) or Section 2(c)
hereof, the Trustee shall pursue such Claim solely against the Company and its assets outside the Trust Account and not against the Property or any monies in the Trust Account. 

  
 5 

 5. Termination. This Agreement shall terminate as follows: 

(a) If the Trustee gives written notice to the Company that it desires to resign under this Agreement, the Company shall use its reasonable
efforts to locate a successor trustee, pending which the Trustee shall continue to act in accordance with this Agreement. At such time that the Company notifies the Trustee that a successor trustee has been appointed and has agreed to become subject
to the terms of this Agreement, the Trustee shall transfer the management of the Trust Account to the successor trustee, including but not limited to the transfer of copies of the reports and statements relating to the Trust Account, whereupon this
Agreement shall terminate; provided, however, that in the event that the Company does not locate a successor trustee within ninety (90) days of receipt of the resignation notice from the Trustee, the Trustee may submit an
application to have the Property deposited with any court in the State of New York or with the United States District Court for the Southern District of New York and upon such deposit, the Trustee shall be immune from any liability whatsoever; or

 (b) At such time that the Trustee has completed the liquidation of the Trust Account and its obligations in accordance with the
provisions of Section 1(i) hereof and distributed the Property in accordance with the provisions of the Termination Letter, this Agreement shall terminate except with respect to Section 2(b). 

6. Miscellaneous. 
 (a)
The Company and the Trustee each acknowledge that the Trustee will follow the security procedures set forth below with respect to funds transferred from the Trust Account. The Company and the Trustee will each restrict access to confidential
information relating to such security procedures to authorized persons. Each party must notify the other party immediately if it has reason to believe unauthorized persons may have obtained access to such confidential information, or of any change
in its authorized personnel. In executing funds transfers, the Trustee shall rely upon all information supplied to it by the Company, including, account names, account numbers, and all other identifying information relating to a Beneficiary,
Beneficiary’s bank or intermediary bank. Except for any liability arising out of the Trustee’s gross negligence, fraud or willful misconduct, the Trustee shall not be liable for any loss, liability or expense resulting from any error in
the information or transmission of the funds. 
 (b) This 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. This Agreement may be executed in several original or facsimile counterparts,
each one of which shall constitute an original, and together shall constitute but one instrument. 
 (c) This Agreement contains the entire
agreement and understanding of the parties hereto with respect to the subject matter hereof. This Agreement or any provision hereof may only be changed, amended or modified (other than to correct a typographical error) by a writing signed by each of
the parties hereto. 
 (d) This Agreement or any provision hereof may only be changed, amended or modified pursuant to
Section 6 hereof with the Consent of the Stockholders, it being the specific intention of the parties hereto that each of the Company’s stockholders is, and shall be, a third party beneficiary of this
Section 6(d) with the same right and power to enforce this Section 6 as the other parties hereto. For purposes of this Section 6(d), the “Consent of the
Stockholders” means receipt by the Trustee of a 

  
 6 

 
certificate from the inspector of elections of the stockholder meeting certifying that the Company’s stockholders of record as of a record date established in accordance with
Section 213(a) of the General Corporation Law of the State of Delaware, as amended (or any successor rule), who hold at least sixty-five percent (65%) of the voting power of all then outstanding shares of the Common Stock and Class B
common stock, par value $0.00001 per share, have voted in favor of such change, amendment or modification. No such amendment will affect any Public Stockholder who has otherwise indicated his election to redeem his share of Common Stock in
connection with a stockholder vote sought to amend this Agreement. Except for any liability arising out of the Trustee’s gross negligence, fraud or willful misconduct, the Trustee may rely conclusively on the certification from the inspector or
elections referenced above and shall be relieved of all liability to any party for executing the proposed amendment in reliance thereon. 

(e) The parties hereto consent to the jurisdiction and venue of any state or federal court located in the City of New York, State of New York,
for purposes of resolving any disputes hereunder. AS TO ANY CLAIM, CROSS-CLAIM OR COUNTERCLAIM IN ANY WAY RELATING TO THIS AGREEMENT, EACH PARTY WAIVES THE RIGHT TO TRIAL BY JURY. 

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

if to the Trustee, to: 
 American Stock
Transfer & Trust Company, LLC 
 6201 15th Avenue 

Brooklyn, New York 11219 
 Attn:
Relationship Management 
 if to the Company, to: 

NightDragon Acquisition Corp. 

101 Second Street, Suite 1275 

San Francisco, California 94105 

Attn.: Steve Simonian 
 in each case, with copies
to: 
 Wilson Sonsini Goodrich & Rosati, P.C. 

650 Page Mill Road 
 Palo Alto,
California 94304 
 Attn.: Jeffrey D. Saper, Robert G. Day and Bryan D. King 

Fax No.: (650) 493-9301 

and 
 Morgan Stanley & Co. LLC 

1585 Broadway 
 New York, New York
10036 
 Attn.: Shilpi Saran 
 and 

  
 7 

 Davis Polk & Wardwell LLP 

1600 El Camino Real 
 Menlo Park,
California 94025 
 Attn: Alan F. Denenberg and Derek Dostal 

Fax No.: (650) 752-2111 

(g) Each of the Company and the Trustee hereby represents that it has the full right and power and has been duly authorized to enter into this
Agreement and to perform its respective obligations as contemplated hereunder. The Trustee acknowledges and agrees that it shall not make any claims or proceed against the Trust Account, including by way of
set-off, and shall not be entitled to any funds in the Trust Account under any circumstance. 
 (h)
This Agreement is the joint product of the Trustee and the Company and each provision hereof has been subject to the mutual consultation, negotiation and agreement of such parties and shall not be construed for or against any party hereto. 

(i) This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts
shall together constitute one and the same instrument. Delivery of a signed counterpart of this Agreement by facsimile or electronic transmission shall constitute valid and sufficient delivery thereof. 

(j) Each of the Company and the Trustee hereby acknowledges and agrees that the Underwriters are third party beneficiaries of this Agreement.

 (k) Except as specified herein, no party to this Agreement may assign its rights or delegate its obligations hereunder to any other
person or entity. 
 [Signature Page Follows] 

  
 8 

 IN WITNESS WHEREOF, the parties have duly executed this Investment Management Trust
Agreement as of the date first written above. 
  

					
	 American Stock Transfer & Trust Company,

LLC, as Trustee

		
	By:	 	 /s/ Michael Legregin

		 	Name: Michael Legregin
		 	Title: Senior Vice President

  

							
	NightDragon Acquisition Corp.	 	
			
	By:	 	 /s/ Steve Simonian
	 	
		 	Name: Steve Simonian	 	
		 	Title: Chief Financial Officer	 	

  
 [Signature Page to
Investment Management Trust Agreement] 

 SCHEDULE A 
  

					
	Fee Item	  	Time and method of payment	  	Amount
			
	Initial set-up fee & administration fee	  	Initial closing of Offering by wire transfer.	  	$6,000
			
	 Transaction processing fee for disbursements to Company under

Sections 1(i), 1(j) and 1(k)
	  	Deduction by Trustee from accumulated income following disbursement made to Company under Section 1	  	$150 per item presented
			
	 Paying Agent services as required
 pursuant to
Section 1(i)
	  	Billed to Company upon delivery of service pursuant to Section 1(i)	  	$9,500.00

 EXHIBIT A 

[Letterhead of Company] 

[Insert date] 
 American Stock
Transfer & Trust Company, LLC 
 6201 15th Avenue 

Brooklyn, New York 11219 
 Attn: AST Shareholder Services 

Re: Trust Account
No.                 Termination Letter 

Gentlemen: 
 Pursuant to Section 1(i) of
the Investment Management Trust Agreement between NightDragon Acquisition Corp. (the “Company”) and American Stock Transfer & Trust Company, LLC (the “Trustee”), dated as of
                , 2021 (the “Trust Agreement”), this is to advise you that the Company has entered into an agreement with
                 (the “Target Business”) to consummate a business combination with Target Business (the “Business
Combination”) on or about                 , 20    . The Company shall notify you at least forty-eight (48) hours in advance of the
actual date of the consummation of the Business Combination (or such shorter time period as you may agree) (the “Consummation Date”). Capitalized terms used but not defined herein shall have the meanings set forth in the
Trust Agreement. 
 In accordance with the terms of the Trust Agreement, we hereby authorize you to commence to liquidate all of the assets
of the Trust Account on                 , 20    , and to transfer the proceeds into a segregated account held by you on behalf of the Beneficiaries
to the effect that, on the Consummation Date, all of the funds held in the Trust Account will be immediately available for transfer to the account or accounts that the Company shall direct on the Consummation Date (including as directed to it by
Morgan Stanley & Co. LLC (with respect to the Deferred Discount)). It is acknowledged and agreed that while the funds are on deposit in the trust checking account at Bank of America, National Association, awaiting distribution, the Company
will not earn any interest or dividends. 
 On the Consummation Date (i) counsel for the Company shall deliver to you written
notification that the Business Combination has been consummated, or will be consummated concurrently with your transfer of funds to the accounts as directed by the Company (the “Notification”) and (ii) the Company shall
deliver to you (a) [an affidavit] [a certificate] of the Chief Executive Officer of the Company, which verifies that the Business Combination has been approved by a vote of the Company’s stockholders, if a vote is held and (b) a written
instruction signed by the Company with respect to the transfer of the funds held in the Trust Account, including payment of the Deferred Discount from the Trust Account (the “Instruction Letter”). You are hereby directed and
authorized to transfer the funds held in the Trust Account immediately upon your receipt of the Notification and the Instruction Letter, in accordance with the terms of the Instruction Letter. In the event that certain deposits held in the Trust
Account may not be liquidated by the Consummation Date without penalty, you will notify the Company in writing of the same and the Company shall direct you as to whether such funds should remain in the Trust Account and be distributed after the
Consummation Date to the Company. Upon the distribution of all the funds, net of any payments necessary for reasonable unreimbursed expenses related to liquidating the Trust Account, your obligations under the Trust Agreement shall be terminated.

 In the event that the Business Combination is not consummated on the Consummation Date described in the notice thereof and we have not
notified you on or before the original Consummation Date 

  
 A-1 

 
of a new Consummation Date, then upon receipt by the Trustee of written instructions from the Company, the funds held in the Trust Account shall be reinvested as provided in Section 1(c) of
the Trust Agreement on the business day immediately following the Consummation Date as set forth in such written instruction as soon thereafter as possible. 

 

					
	Very truly yours,
	
	NightDragon Acquisition Corp.
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

 cc: Morgan Stanley & Co. LLC 

  
 A-2 

 EXHIBIT B 

[Letterhead of Company] 

[Insert date] 
 American Stock
Transfer & Trust Company, LLC 
 6201 15th Avenue 

Brooklyn, New York 11219 
 Attn: AST Shareholder Services 

Re: Trust Account
No.                 Termination Letter 

Gentlemen: 
 Pursuant to Section 1(i) of
the Investment Management Trust Agreement between NightDragon Acquisition Corp. (the “Company”) and American Stock Transfer & Trust Company, LLC (the “Trustee”), dated as
of                , 2021 (the “Trust Agreement”), this is to advise you that the Company has been unable to effect a business combination with a
Target Business within the time frame specified in the Company’s amended and restated certificate of incorporation, as described in the Company’s Prospectus relating to the Offering. Capitalized terms used but not defined herein shall have
the meanings set forth in the Trust Agreement. 
 In accordance with the terms of the Trust Agreement, we hereby authorize you to liquidate
all of the assets in the Trust Account on                 , 20     and to transfer the total proceeds into a segregated account held by you on behalf
of the Beneficiaries to await distribution to the Public Stockholders. The Company has selected                  as the record date for the purpose of determining the
Public Stockholders entitled to receive their share of the liquidation proceeds. You agree to be the Paying Agent of record and, in your separate capacity as Paying Agent, agree to distribute said funds directly to the Company’s Public
Stockholders in accordance with the terms of the Trust Agreement and the amended and restated certificate of incorporation of the Company. Upon the distribution of all the funds, net of any payments necessary for reasonable unreimbursed expenses
related to liquidating the Trust Account, your obligations under the Trust Agreement shall be terminated, except to the extent otherwise provided in Section 1(i) of the Trust Agreement. 

 

					
	Very truly yours,
	
	NightDragon Acquisition Corp.
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

 cc: Morgan Stanley & Co. LLC 

  
 B-1 

 EXHIBIT C 

[Letterhead of Company] 

[Insert date] 
 American Stock
Transfer & Trust Company, LLC 
 6201 15th Avenue 

Brooklyn, New York 11219 
 Attn: AST Shareholder Services 

Re: Trust Account
No.                 Tax Payment Withdrawal Instruction 

Gentlemen: 
 Pursuant to Section 1(j) of
the Investment Management Trust Agreement between NightDragon Acquisition Corp. (the “Company”) and American Stock Transfer & Trust Company, LLC (the “Trustee”), dated as of
    , 2021 (the “Trust Agreement”), the Company hereby requests that you deliver to the Company $ of the interest income earned on the Property as of the date hereof. Capitalized terms used but not defined
herein shall have the meanings set forth in the Trust Agreement. 
 The Company needs such funds to pay for the tax obligations as set forth
on the attached tax return or tax statement. In accordance with the terms of the Trust Agreement, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to the Company’s
operating account at: 
 [WIRE INSTRUCTION INFORMATION] 

 

					
	Very truly yours,
	
	NightDragon Acquisition Corp.
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

 cc: Morgan Stanley & Co. LLC 

  
 C-1 

 EXHIBIT D 

[Letterhead of Company] 

[Insert date] 
 American Stock
Transfer & Trust Company, LLC 
 6201 15th Avenue 

Brooklyn, New York 11219 
 Attn: AST Shareholder Services 

Re: Trust Account No.
                     Stockholder Redemption Withdrawal Instruction 

Gentlemen: 
 Pursuant to
Section 1(k) of the Investment Management Trust Agreement between NightDragon Acquisition Corp. (the “Company”) and American Stock Transfer & Trust Company, LLC (the
“Trustee”), dated as of     , 2021 (the “Trust Agreement”), the Company hereby requests that you deliver to the redeeming Public Stockholders of the Company
$                 of the principal and interest income earned on the Property as of the date hereof into a segregated account held by you on behalf of the Beneficiaries.
Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement. 
 The Company needs such funds to
pay its Public Stockholders who have properly elected to have their shares of Common Stock redeemed by the Company in connection with a stockholder vote to approve an amendment to the Company’s amended and restated certificate of incorporation
that would affect the substance or timing of the Company’s obligation to redeem 100% of its public shares of Common Stock if the Company has not consummated an initial Business Combination within such time as is described in the Company’s
amended and restated certificate of incorporation or to affect provisions of the Company’s amended and restated certificate of incorporation relating to the Company’s pre-initial Business Combination
activity or related stockholder rights. As such, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter into a segregated account held by you on behalf of the Beneficiaries. 

 

					
	Very truly yours,
	
	NightDragon Acquisition Corp.
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

 cc: Morgan Stanley & Co. LLC 

  
 D-1

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