Document:

Exhibit 10.5

 

SUBSCRIPTION AGREEMENT

 

This SUBSCRIPTION AGREEMENT
(this “Subscription Agreement”) is entered into on November ___, 2020, by and among INSU Acquisition Corp. II,
a Delaware corporation (the “Issuer”), and the subscriber party set forth on the signature page hereto (“Subscriber”).

 

WHEREAS, the Issuer
is concurrently with the execution and delivery hereof entering into an Agreement and Plan of Merger and Reorganization (as amended
or modified, the “Merger Agreement”; capitalized terms used herein without definition shall have the meanings
ascribed thereto in the Merger Agreement), by and among the Issuer, INSU II Merger Sub Corp., a Delaware corporation and wholly
owned subsidiary of Issuer (“Merger Sub”), and MetroMile, Inc., a Delaware corporation (“Metromile”),
whereby the parties intend to effect the merger of Merger Sub with and into Metromile, with Metromile continuing as the surviving
entity, on the terms and subject to the conditions set forth therein (the “Transactions”);

 

WHEREAS, to finance
a portion of the Transactions, Subscriber desires to subscribe for and purchase from the Issuer that number of shares of the Issuer’s
Class A common stock, par value $0.0001 per share (the “Class A Shares”), as set forth on the signature
page hereto (the “Acquired Shares”) for a purchase price of $10.00 per share and an aggregate purchase price
set forth on the signature page hereto (the “Purchase Price”), and the Issuer desires to issue and sell to Subscriber
the Acquired Shares in consideration of the payment of the Purchase Price by or on behalf of Subscriber to the Issuer on or prior
to the Closing (as defined below);

 

WHEREAS, the Issuer
and Subscriber are executing and delivering this Subcription Agreement in reliance upon the exemption from securities registration
afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”);

 

WHEREAS, to finance
a portion of the Transactions, certain other “qualified institutional buyers” (as defined in Rule 144A under the Securities
Act) or institutional “accredited investors” (as such term is defined in Rule 501 under the Securities Act), have (severally
and not jointly) entered into separate subscription agreements with the Issuer (the “Other Subscription Agreements”),
pursuant to which such investors have agreed to purchase Class A Shares on the Closing Date at the Purchase Price; and

 

WHEREAS, the aggregate
amount of Class A Shares to be sold by Issuer pursuant to this Subscription Agreement and the Other Subscription Agreements equals
16,000,000 Class A Shares.

 

NOW, THEREFORE, in
consideration of the foregoing and the mutual representations, warranties and covenants, and subject to the conditions, herein
contained, and intending to be legally bound hereby, the parties hereto hereby agree as follows:

 

1.  Subscription.
Subject to the terms and conditions hereof, Subscriber hereby agrees to subscribe for and purchase, and the Issuer hereby agrees
to issue and sell to Subscriber, upon the payment of the Purchase Price, the Acquired Shares (such subscription and issuance, the
“Subscription”). 

 

2.  Closing.

 

a.  The closing
of the Subscription contemplated hereby (the “Closing”) is contingent upon the substantially concurrent consummation
of the Transactions and shall occur immediately prior thereto. Not less than five (5) business days prior to the scheduled
closing date of the Transactions (the “Closing Date”), the Issuer shall provide written notice to Subscriber
(the “Closing Notice”) of such Closing Date. Subscriber shall deliver to the Issuer no later than one (1) business
day before the Closing Date (as specified in the Closing Notice or otherwise agreed to by the Issuer and the Subscriber) the Purchase
Price for the Acquired Shares by wire transfer of U.S. dollars in immediately available funds (i) to the account specified by the
Issuer in the Closing Notice, to be held in a third-party escrow account (the “Escrow Account”) prior to the
Closing Date for the benefit of the Subscriber until the Closing Date, pursuant to the terms of a customary escrow agreement to
be entered into by the Issuer and the escrow agent selected by the Issuer (the “Escrow Agent”) or (ii) to an
account specified by the Issuer otherwise mutually agreed by the Subscriber and the Issuer (“Alternative Settlement Procedures”).
On the Closing Date, the Issuer shall deliver to Subscriber (1) the Acquired Shares in book entry form, free and clear of
any liens or other restrictions whatsoever (other than those set forth in this Subscription Agreement or arising under state or
federal securities laws), in the name of Subscriber (or its nominee in accordance with its delivery instructions) or to a custodian
designated by Subscriber, as applicable, and (2) a copy of the records of the Issuer’s transfer agent (the “Transfer
Agent”) showing Subscriber as the owner of the Acquired Shares on and as of the Closing Date (the “Subscriber’s
Deliveries”). Unless otherwise provided pursuant to Alternative Settlement Procedures, upon the transfer of the Subscriber’s
Deliveries by the Issuer to the Subscriber, (or its nominee in accordance with its delivery instructions) the Escrow Agent shall
release the Purchase Price from the Escrow Account to the Issuer. In the event the closing of the Transactions does not occur within
five (5) business days of the Closing Date specified in the Closing Notice, unless otherwise instructed by the Issuer and the Subscriber,
the Escrow Agent or the Issuer, as applicable, shall promptly (but not later than one (1) business day thereafter) return
the Purchase Price to Subscriber by wire transfer of U.S. dollars in immediately available funds to the account specified by Subscriber,
and any book entries shall be deemed cancelled.

 

     

     

    

  

b.  The Closing shall be subject to the
conditions that, on the Closing Date:

 

(i)  solely with
respect to Subscriber, the representations and warranties made by the Issuer (other than the representations and warranties set
forth in Section 3(b), Section 3(c) and Section 3(h)) in this Subscription Agreement shall be true and correct
in all material respects as of the Closing Date (other than those representations and warranties expressly made as of an earlier
date, which shall be true and correct in all material respects as of such date, and other than those representations and warranties
that are qualified as to materiality or Material Adverse Effect, which shall be true and correct in all respects as of the Closing
Date), and the representations and warranties made by the Issuer set forth in Section 3(b), Section 3(c) and Section
3(h) shall be true and correct in all respects as of the Closing Date (other than those representations and warranties expressly
made as of an earlier date, which shall be true and correct in all respects as of such date), in each case without giving effect
to the consummation of the Transactions;

 

(ii)  solely with
respect to the Issuer, the representations and warranties made by the Subscriber in this Subscription Agreement shall be true and
correct in all material respects as of the Closing Date (other than those representations and warranties expressly made as of an
earlier date, which shall be true and correct in all material respects as of such date, and other than those representations and
warranties that are qualified as to materiality or Material Adverse Effect, which shall be true and correct in all respects as
of the Closing Date), in each case without giving effect to the consummation of the Transactions;

 

(iii)  solely
with respect to Subscriber, the Issuer shall have performed, satisfied and complied in all material respects with all covenants,
agreements and conditions required by this Subscription Agreement to be performed, satisfied or complied with by it at or prior
to the Closing;

 

(iv)  no governmental
authority having jurisdiction shall have enacted, issued, promulgated, enforced or entered any material judgment, order, law, rule
or regulation (whether temporary, preliminary or permanent) which is then in effect and has the effect of restraining, enjoining
or otherwise prohibiting or making illegal the consummation of the transactions contemplated by this Subscription Agreement;

 

(v)  no suspension
of the qualification of the Acquired Shares for offering or sale or trading in any jurisdiction, no suspension or removal from
listing of the Acquired Shares on Nasdaq and no initiation or threatening of any proceedings for any of such purposes or delisting,
shall have occurred;

  

(vi)  solely with
respect to Subscriber, no amendment or modification of the Merger Agreement shall have occurred that would reasonably be expected
to materially and adversely affect the economic benefits that the Subscriber would reasonably be expected to receive under this
Subscription Agreement;

 

(vii) No Material Adverse
Effect or Parent Material Adverse Effect (each as defined in the Merger Agreement) shall have occurred between the date of the
Merger Agreement and the Closing Date and be continuing; and

  

(viii)  all conditions
precedent to the closing of the Transactions set forth in the Merger Agreement, shall have been satisfied or waived by the party
entitled to the benefit thereof under the Merger Agreement (other than those conditions that may only be satisfied at the closing
of the Transactions, but subject to satisfaction or waiver by such party of such conditions as of the closing of the Transactions).

 

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c.  At the Closing,
the parties hereto shall execute and deliver such additional documents and take such additional actions as the parties reasonably
may deem necessary in order to consummate the Subscription as contemplated by this Subscription Agreement.

 

3.  Issuer
Representations and Warranties. The Issuer represents and warrants that:

 

a.  The Issuer has
been duly incorporated and is validly existing as a corporation in good standing under the laws of the State of Delaware, with
corporate power and authority to own, lease and operate its properties and conduct its business as presently conducted and to enter
into, deliver and perform its obligations under this Subscription Agreement.

 

b.  The Acquired
Shares have been duly authorized and, when issued and delivered to Subscriber against full payment for the Acquired Shares in accordance
with the terms of this Subscription Agreement and registered with the Transfer Agent, the Acquired Shares will be validly issued,
fully paid and non-assessable and will not have been issued in violation of or subject to any preemptive or similar rights created
under the Issuer’s certificate of incorporation and bylaws or under the laws of the State of Delaware.

 

c.  This Subscription
Agreement, the Merger Agreement and the Other Subscription Agreements (collectively, the “Transaction Documents”)
have been duly authorized, executed and delivered by the Issuer and, assuming that the Transaction Documents constitute the valid
and binding agreement of the other parties thereto, are valid and binding obligations of the Issuer, and are enforceable against
it in accordance with their terms, except as may be limited or otherwise affected by (i) bankruptcy, insolvency, reorganization,
fraudulent conveyance, moratorium or other laws relating to or affecting the rights of creditors generally, and (ii) principles
of equity, whether considered at law or equity.

 

d.  The execution,
delivery and performance of this Subscription Agreement and the other Transaction Documents, including the issuance and sale of
the Acquired Shares and the consummation of the other transactions contemplated hereby and thereby, will not conflict with or result
in a breach or violation of any of the terms or provisions of, or constitute a default under, or result in the creation or imposition
of any lien, charge or encumbrance upon any of the property or assets of the Issuer pursuant to the terms of (i) any indenture,
mortgage, deed of trust, loan agreement, lease, license or other agreement or instrument to which the Issuer is a party or by which
the Issuer is bound or to which any of the property or assets of the Issuer is subject; (ii) the organizational documents
of the Issuer; or (iii) any statute or any judgment, order, rule or regulation of any court or governmental agency, taxing
authority or regulatory body, domestic or foreign, having jurisdiction over the Issuer or any of its properties that, in the case
of clauses (i) and (iii), would reasonably be expected to have a material adverse effect on the business, properties, assets, liabilities,
operations, condition (including financial condition), stockholders’ equity or results of operations of the Issuer or materially
and adversely affect the validity of the Acquired Shares or the legal authority or ability of the Issuer to perform in any material
respects its obligations hereunder (a “Material Adverse Effect”).

  

e.  There are no
securities or instruments issued by or to which the Issuer is a party containing anti-dilution or similar provisions that will
be triggered by the issuance of (i) the Acquired Shares or (ii) the shares to be issued pursuant to any Other Subscription
Agreement, that have not been or will not be validly waived on or prior to the Closing Date, including such provisions in the Issuer’s
Class B common stock, par value $0.0001 per share (the “Class B Shares”), pursuant to the terms of the
Issuer’s certificate of incorporation.

 

f.  The Issuer is
not in default or violation (and no event has occurred which, with notice or the lapse of time or both, would constitute a default
or violation) of any term, condition or provision of (i) the organizational documents of the Issuer, (ii) any loan or
credit agreement, guarantee, note, bond, mortgage, indenture, lease or other agreement, permit, franchise or license to which,
as of the date of this Subscription Agreement, the Issuer is a party or by which the Issuer’s properties or assets are bound
or (iii) any statute or any judgment, order, rule or regulation of any court or governmental agency, taxing authority or regulatory
body, domestic or foreign, having jurisdiction over the Issuer or any of its properties, except, in the case of clauses (ii) and
(iii), for defaults or violations that have not had and would not be reasonably likely to have, individually or in the aggregate,
a Material Adverse Effect.

 

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g.  The Issuer is
not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or registration with,
any court or other federal, state, local or other governmental authority, self-regulatory organization or other person in connection
with the execution, delivery and performance by the Issuer of this Subscription Agreement (including, without limitation, the issuance
of the Acquired Shares), other than (i) the filing with the Securities and Exchange Commission (the “Commission”)
of the Registration Statement (as defined below), (ii) filings required by applicable state securities laws, (iii) the filings
required in accordance with Section 9(r) of this Subscription Agreement; (iv) those required by the Nasdaq Capital
Market (“Nasdaq”), including with respect to obtaining approval of the Issuer’s stockholders; and (v) any
filing, the failure of which to obtain would not be reasonably likely to have, individually or in the aggregate, a Material Adverse
Effect.

 

h.  As of the date
of this Subscription Agreement and as of immediately prior to the Closing Date, the authorized capital stock of the Issuer consists
of (i) 1,000,000 shares of preferred stock, par value $0.0001 per share (“Preferred Stock”) and (ii) 70,000,000
shares of common stock, par value $0.0001 per share (the “Common Stock”), including (1) 60,000,000 Class A Shares
and (2) 10,000,000 Class B Shares. As of the date of this Subscription Agreement, (i) no shares of Preferred Stock are issued
and outstanding, (ii) 23,540,000 Class A Shares are issued and outstanding, (iii) 7,846,667 Class B Shares are issued
and outstanding and (iv) 7,666,666 redeemable warrants and 180,000 private placement warrants are outstanding. All (i) issued and
outstanding Class A Shares and Class B Shares have been duly authorized and validly issued, are fully paid and are non-assessable
and are not subject to preemptive rights and (ii) outstanding warrants have been duly authorized and validly issued, are fully
paid and are not subject to preemptive rights. Except as set forth above and pursuant to the Other Subscription Agreements and
the Merger Agreement, there are no outstanding options, warrants or other rights to subscribe for, purchase or acquire from the
Issuer any shares of Common Stock or other equity interests in the Issuer, or securities convertible into or exchangeable or exercisable
for such equity interests. As of the date hereof, other than Merger Sub, the Issuer has no subsidiaries and does not own, directly
or indirectly, interests or investments (whether equity or debt) in any person, whether incorporated or unincorporated. There are
no stockholder agreements, voting trusts or other agreements or understandings to which the Issuer is a party or by which it is
bound relating to the voting of any securities of the Issuer, other than (A) as set forth in the SEC Documents and (B) as contemplated
by the Merger Agreement. Except as disclosed in the SEC Documents, as of September 30, 2020, the Issuer had no outstanding indebtedness
and will not have any outstanding long-term indebtedness as of the Closing Date.

 

i.  The Issuer has
not received any written communication from a governmental entity that alleges that the Issuer is not in compliance with or is
in default or violation of any applicable law, except where such non-compliance, default or violation would not, individually or
in the aggregate, be reasonably likely to have a Material Adverse Effect.

 

j.  The issued and
outstanding Class A Shares are registered pursuant to Section 12(b) of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”), and are listed for trading on Nasdaq under the symbol “INAQ.” There is no
suit, action, proceeding or investigation pending or, to the knowledge of the Issuer, threatened against the Issuer by Nasdaq or
the Commission with respect to any intention by such entity to deregister the Class A Shares or prohibit or terminate the listing
of the Class A Shares on Nasdaq, excluding, for the purposes of clarity, the customary ongoing review by Nasdaq of the Issuer's
continued listing application in connection with the Transactions. The Issuer has taken no action that is designed to terminate
the registration of the Class A Shares under the Exchange Act or the listing of the Class A Shares on Nasdaq.

 

k.  Assuming the
accuracy of Subscriber’s representations and warranties set forth in Section 4 of this Subscription Agreement,
no registration under the Securities Act is required for the offer and sale of the Acquired Shares by the Issuer to Subscriber
in the manner contemplated by this Subscription Agreement..

  

l.  Neither the
Issuer, nor any person acting on its behalf has, directly or indirectly, made any offers or sales of any Issuer security or solicited
any offers to buy any security under circumstances that would adversely affect reliance by the Issuer on Section 4(a)(2) of the
Securities Act for the exemption from registration for the transactions contemplated hereby or would require registration of the
issuance of the Acquired Shares under the Securities Act.

 

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m.  Except for any
Alternative Settlement Procedures, the Issuer has not entered into any Other Subscription Agreement (or side letter or similar
agreement in respect thereof) on terms (economic or otherwise) that are materially more favorable to such subscriber or investor
than as set forth in this Subscription Agreement; provided, however, that Subscriber acknowledges that the subscription agreement
entered into with Cohen & Company, LLC or its affiliate provides that Cohen & Company, LLC or its affiliate may increase
the number of Acquired Shares to be purchased under such agreement at any time prior to Closing.

 

n.  The Issuer’s
public reports filed with the Commission, and all subsequent reports (collectively, the “Exchange Act Reports”)
that have been timely filed with the Commission or sent to stockholders, pursuant to Section 13 of the Exchange Act, did not when
filed, and taken as a whole and as amended to the date hereof, do not contain any untrue statement of a material fact or omit to
state a material fact necessary in order to make the statements made therein, in the light of the circumstances under which they
were made, not misleading and such Exchange Act Reports complied in all material respects with the requirements of the Exchange
Act and the rules and regulations of the Commission promulgated thereunder. The Issuer has timely filed each report, statement,
schedule, prospectus, and registration statement that the Issuer was required to file with the Commission since its inception.
There are no material outstanding or unresolved comments in comment letters from the Commission Staff with respect to any of the
Issuer’s filings with the Commission (the “SEC Documents”). In addition, the Issuer has made available
to Subscriber (including via the Commission’s EDGAR system) a copy of the Exchange Act Reports since its initial registration
of the Class A Shares with the Commission. Each of the financial statements (including, in each case, any notes thereto) contained
in the SEC Documents was prepared in accordance with U.S. generally accepted accounting principles applied on a consistent basis
throughout the periods indicated (except as may be indicated in the notes thereto or, in the case of unaudited statements, as permitted
by Form 10-Q of the Commission) and each fairly presents, in all material respects, the financial position, results of operations
and cash flows of the Issuer as at the respective dates thereof and for the respective periods indicated therein.

 

o.  Except for such
matters as have not had and would not be reasonably likely to have, individually or in the aggregate, a Material Adverse Effect,
there is no (i) investigation, action, suit, claim or other proceeding, in each case by or before any governmental authority
pending, or, to the knowledge of the Issuer, threatened against the Issuer or (ii) judgment, decree, injunction, ruling or
order of any governmental entity outstanding against the Issuer.

  

p.  Except for placement
fees payable to the Placement Agents (as defined herein), the Issuer has not paid, and is not obligated to pay, any brokerage,
finder’s or other fee or commission in connection with its issuance and sale of the Acquired Shares, including, for the avoidance
of doubt, any fee or commission payable to any stockholder or affiliate of the Issuer.

 

q.  Except as provided
in this Subscription Agreement and the Other Subscription Agreements, none of the Issuer, its subsidiaries or any of their affiliates,
nor any person acting on their behalf has, directly or indirectly, made any offers or sales of any security or solicited any offers
to buy any security, under circumstances that would require registration of the issuance of any of the Acquired Shares under the
Securities Act, whether through integration with prior offerings pursuant to Rule 502(a) of the Securities Act or otherwise.

 

r.  Neither the
Issuer nor any of its subsidiaries has taken any steps to seek protection pursuant to any law or statute relating to bankruptcy,
insolvency, reorganization, receivership, liquidation, administration or winding up or failed to pay its debts when due, nor does
the Issuer or any subsidiary have any knowledge or reason to believe that any of their respective creditors intend to initiate
involuntary bankruptcy proceedings or seek to commence an administration.  

 

s.  Except for discussions
specifically regarding the offer and sale of the Acquired Shares, the Issuer confirms that neither it nor any other person acting
on its behalf has provided Subscriber or its agents or counsel with any information that constitutes or could reasonably be expected
to constitute material, non-public information concerning the Issuer or any of its subsidiaries, other than with respect to the
Transactions and the transactions contemplated by this Subscription Agreement. The Issuer understands and confirms that Subscriber
will rely on the foregoing representations in effecting transactions in securities of the Issuer. Except with respect to the Transactions
and the transactions contemplated by this Subscription Agreement and the Other Subscription Agreements, no event or circumstance
has occurred which, under applicable law, rule or regulation, requires public disclosure at or before the date hereof or announcement
by the Issuer but which has not been so publicly disclosed.

 

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t. The Issuer acknowledges
and agrees that, notwithstanding anything herein to the contrary, including, without limitation, Section 4(e) of this Subscription
Agreement, the Acquired Shares may be pledged by Subscriber in connection with a bona fide margin agreement, which shall not be
deemed to be a transfer, sale or assignment of the Acquired Shares hereunder, and Subscriber effecting a pledge of Acquired Shares
shall not be required to provide the Issuer with any notice thereof or otherwise make any delivery to the Issuer pursuant to this
Subscription Agreement; provided that Subscriber and its pledgee shall be required to comply with the provisions of Section
4(e) hereof in order to effect a sale, transfer or assignment of Acquired Shares to such pledgee. The Issuer hereby agrees
to execute and deliver such documentation as a pledgee of the Acquired Shares may reasonably request in connection with a pledge
of the Acquired Shares to such pledgee by Subscriber.

 

u. The Issuer represents
and warrants that each of the Issuer, the Merger Sub, any of their respective directors and officers and, to the Issuer’s
knowledge, Metromile, any of Metromile’s directors and officers and any of the Issuer’s, Merger Sub’s and Metromile’s
employees, representatives, agents and any person acting on its or their behalf is not (i) a person or entity named on the
List of Specially Designated Nationals and Blocked Persons, the Executive Order 13599 List, the Foreign Sanctions Evaders List,
or the Sectoral Sanctions Identification List, each of which is administered by the U.S. Treasury Department’s Office of
Foreign Assets Control (“OFAC”), or any other Executive Order issued by the President of the United States and
administered by OFAC (collectively “OFAC Lists”), (ii) owned or controlled by, or acting on behalf of, a person,
that is named on an OFAC List; (iii) organized, incorporated, established, located, resident or born in, or a citizen, national,
or the government, including any political subdivision, agency, or instrumentality thereof, of, Cuba, Iran, North Korea, Syria,
the Crimea region of Ukraine, or any other country or territory embargoed or subject to substantial trade restrictions by the United
States or (iv) a Designated National as defined in the Cuban Assets Control Regulations, 31 C.F.R. Part 515.

 

v. The Issuer represents
and warrants that (i) each of the Issuer, Merger Sub, any of their respective directors and officers and, to the Issuer’s
knowledge, Metromile, any of Metromile’s directors and officers and any of the Issuer’s, Merger Sub’s and Metromile’s
employees, representatives, agents and any person acting on its or their behalf has not engaged in any activity or conduct which
would violate any applicable anti-bribery, anti-corruption or anti-money laundering laws, regulations or rules in any applicable
jurisdiction (including, without limitation, the U.S. Foreign Corrupt Practices Act of 1977, as amended), (ii) the Issuer and Merger
Sub and, to the Issuer’s knowledge, Metromile has instituted and maintains systems, policies and procedures designed to prevent
violation of such laws, regulations and rules and (iii) no action, suit or proceeding by or before any court or governmental or
regulatory agency, authority or body or any arbitrator having jurisdiction over the Issuer, Merger Sub or, to the Issuer’s
knowledge, Metromile with respect to such laws, regulations and rules is pending and, to the Issuer’s knowledge, no such
actions, suits or proceedings are threatened or contemplated.

  

4.  Subscriber
Representations and Warranties. Subscriber represents and warrants that:

 

 

a.  If Subscriber
is not an individual, Subscriber has been duly formed or incorporated and is validly existing in good standing under the laws of
its jurisdiction of incorporation or formation, with power and authority to enter into, deliver and perform its obligations under
this Subscription Agreement. If Subscriber is an individual, Subscriber has the authority to enter into, deliver and perform its
obligations under this Subscription Agreement.

 

  

b.  This Subscription
Agreement has been duly authorized, executed and delivered by Subscriber and, assuming that this Subscription Agreement constitutes
the valid and binding agreement of the Issuer, this Subscription Agreement is the valid and binding obligation of Subscriber, enforceable
against Subscriber in accordance with its terms, except as may be limited or otherwise affected by (i) bankruptcy, insolvency,
reorganization, fraudulent conveyance, moratorium or other laws relating to or affecting the rights of creditors generally, and
(ii) principles of equity, whether considered at law or equity.

 

c. The execution, delivery
and performance by Subscriber of this Subscription Agreement, including the consummation of the transactions contemplated hereby,
(i) are fully consistent with Subscriber’s financial needs, objectives and condition, (ii) comply and are fully consistent
with all investment policies, guidelines and other restrictions applicable to Subscriber, (iii) have been duly authorized and approved
by all necessary action and (iv) are a fit, proper and suitable investment for Subscriber, notwithstanding the substantial risks
inherent in investing in or holding the Acquired Shares.

 

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d  The execution,
delivery and performance by Subscriber of this Subscription Agreement, including the consummation of the transactions contemplated
hereby will not conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default
under, or result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of Subscriber
or any of its subsidiaries pursuant to the terms of (i) any indenture, mortgage, deed of trust, loan agreement, lease, license
or other agreement or instrument to which Subscriber or any of its subsidiaries is a party or by which Subscriber or any of its
subsidiaries is bound or to which any of the property or assets of Subscriber or any of its subsidiaries is subject; (ii) Subscriber’s
organizational documents or under any law, rule, regulation, agreement or other obligation by which Subscriber is bound; (iii) any
statute or any judgment, order, rule or regulation of any court or governmental agency or body, domestic or foreign, having jurisdiction
over Subscriber or any of its subsidiaries or any of their respective properties, that, in the case of clauses (i) and (iii), would
reasonably be expected to have a material adverse effect on the legal authority or ability of Subscriber to perform in any material
respects its obligations hereunder.

 

e.  Subscriber (i) is
a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act) or an institutional “accredited
investor” (within the meaning of Rule 501(a) under the Securities Act) satisfying the applicable requirements set forth on
Schedule A, (ii) is an “institutional account” (as defined in FINRA Rule 4512(c)), (iii) is acquiring the
Acquired Shares only for its own account and not for the account of others, or if Subscriber is a “qualified institutional
buyer” and is subscribing for the Acquired Shares as a fiduciary or agent for one or more investor accounts, each owner of
such account is a “qualified institutional buyer” and Subscriber has full investment discretion with respect to each
such account, and the full power and authority to make the acknowledgements, representations and agreements herein on behalf of
each owner of each such account, and (iv) is not acquiring the Acquired Shares with a view to, or for offer or sale in connection
with, any distribution thereof in violation of the Securities Act or any other securities laws of the United States or any other
jurisdiction (and shall provide the requested information on Schedule A following the signature page hereto). Subscriber
is not an entity formed for the specific purpose of acquiring the Acquired Shares, unless such newly formed entity is an entity
in which all of the equity owners are “accredited investors” (within the meaning of Rule 501(a) under the Securities
Act).

 

g.  Subscriber understands
that the Acquired Shares are being offered in a transaction not involving any public offering within the meaning of the Securities
Act and that the Acquired Shares have not been registered under the Securities Act or any other securities laws of the United States
or any other jurisdiction. Subscriber understands that it is acquiring its entire beneficial ownership interest in the Acquired
Shares for Subscriber’s own account for investment purposes only and not with a view to any distribution of the Acquired
Shares in any manner that would violate the securities laws of the United States or any other jurisdiction. Subscriber understands
that the Acquired Shares may not be resold, transferred, pledged or otherwise disposed of by Subscriber absent an effective registration
statement under the Securities Act, except (i) to the Issuer or a subsidiary thereof, (ii) to non-U.S. persons pursuant
to offers and sales that occur in an “offshore transaction” within the meaning of Regulation S under the Securities
Act, (iii) pursuant to Rule 144 under the Securities Act, provided that all of the applicable conditions thereof (including
those set out in Rule 144(i) which are applicable to the Issuer) have been met or (iv) pursuant to another applicable exemption
from the registration requirements of the Securities Act, and that any book-entry records representing the Acquired Shares shall
contain a legend to such effect. Subscriber acknowledges that the Acquired Shares will not be eligible for resale pursuant to Rule
144A promulgated under the Securities Act. Subscriber understands and agrees that the Acquired Shares will be subject to transfer
restrictions and, as a result of these transfer restrictions, Subscriber may not be able to readily resell the Acquired Shares
and may be required to bear the financial risk of an investment in the Acquired Shares for an indefinite period of time. Subscriber
understands that it has been advised to consult legal counsel prior to making any offer, resale, pledge or transfer of any of the
Acquired Shares.

 

h.  Subscriber understands
and agrees that Subscriber is purchasing the Acquired Shares directly from the Issuer. Subscriber further acknowledges that there
have been no representations, warranties, covenants and agreements made to Subscriber by the Issuer or any of its officers, directors
or representatives, expressly or by implication, other than those representations, warranties, covenants and agreements included
in this Subscription Agreement.

 

    7

     

    

 

i.  Subscriber represents
and warrants that its acquisition and holding of the Acquired Shares will not constitute or result in a non-exempt prohibited transaction
under section 406 of the Employee Retirement Income Security Act of 1974, as amended, section 4975 of the Internal Revenue Code
of 1986, as amended (the “Code”), or any applicable similar law.

  

j.  In making its
decision to purchase the Acquired Shares, Subscriber represents that it has conducted and completed its own independent due diligence
and has independently made its own analysis and decision with respect to the Subscription. Subscriber further represents and agrees
that, except for the representations, warranties, covenants and agreements made by Issuer herein, on which it may rely, it is relying
exclusively on its own sources of information, investment analysis and due diligence (including professional advice Subscriber
deems appropriate) with respect to the Subscription, the Acquired Shares and the business, condition (financial and otherwise),
management, operations, properties and prospects of the Issuer, including but not limited to all business, legal, regulatory, accounting,
credit and tax matters. Subscriber acknowledges and agrees that it has received, reviewed and understood the offering materials
made available to it in connection with the Subscription and such other information as Subscriber deems necessary in order to make
an investment decision with respect to the Acquired Shares, including with respect to the Issuer, Metromile and the Transactions.
Subscriber represents and agrees that Subscriber and Subscriber’s professional advisor(s), if any, have had the opportunity
to ask such questions, receive such answers and obtain such information from the Issuer directly as Subscriber and such Subscriber’s
professional advisor(s), if any, have deemed necessary to make an investment decision with respect to the Acquired Shares. Subscriber
acknowledges and agrees that it has not relied on any statements or other information provided by the Placement Agents or any of
the affiliates thereof with respect to the Transactions, the Issuer, Metromile or its decision to purchase the Acquired Shares.
Subscriber further acknowledges that the information provided to the Subscriber (other than the information reflected in the representations
and warranties made herein) is preliminary and subject to change, and that any changes to such information, including, without
limitation, any changes based on updated information, shall in no way affect the Subscriber’s obligation to purchase the
Acquired Shares hereunder.

 

k.  Subscriber became
aware of this offering of the Acquired Shares solely by means of direct contact between Subscriber and the Issuer or by means of
contact from any of J.P. Morgan Securities LLC, Wells Fargo Securities, LLC or Allen & Company LLC, each acting as placement
agent for the Issuer (collectively, the “Placement Agents”), and the Acquired Shares were offered to Subscriber
solely by direct contact between Subscriber and the Issuer or by contact between Subscriber and one or more Placement Agents. Subscriber
did not become aware of this offering of the Acquired Shares, nor were the Acquired Shares offered to Subscriber, by any other
means. Subscriber acknowledges that the Issuer represents and warrants that the Acquired Shares (i) were not offered by any
form of general advertising or, to its knowledge, general solicitation, and (ii) to its knowledge are not being offered in
a manner involving a public offering under, or in a distribution in violation of, the Securities Act, or any state securities laws.

 

l. Subscriber acknowledges
and agrees that (a) the Placement Agents are acting solely as placement agents in connection with the Subscription and are not
acting as underwriters or in any other capacity and are not and shall not be construed as a fiduciary for Subscriber, the Issuer
or any other person or entity in connection with the Subscription, (b) the Placement Agents have not made and will not make any
representation or warranty, whether express or implied, of any kind or character and have not provided any advice or recommendation
in connection with the Subscription, (c) the Placement Agents will have no responsibility with respect to (i) any representations,
warranties or agreements made by any person or entity under or in connection with the Subscription or any of the documents furnished
pursuant thereto or in connection therewith, or the execution, legality, validity or enforceability (with respect to any person)
thereof, or (ii) the business, affairs, financial condition, operations, properties or prospects of, or any other matter concerning
the Issuer or the Subscription, and (d) the Placement Agents shall have no liability or obligation (including without limitation,
for or with respect to any losses, claims, damages, obligations, penalties, judgments, awards, liabilities, costs, expenses or
disbursements incurred by Subscriber, the Issuer or any other person or entity), whether in contract, tort or otherwise, to Subscriber,
or to any person claiming through Subscriber, in respect of the Subscription.

 

m. Subscriber acknowledges
that it is aware that there are substantial risks incident to the purchase and ownership of the Acquired Shares, including those
set forth in the SEC Documents. Subscriber qualifies as a sophisticated institutional investor and has such knowledge and experience
in financial, business and private equity matters as to be capable of evaluating the merits and risks of an investment, both in
general and with regard to all transactions and investment strategies involving a security or securities, including Subscriber’s
investment in the Acquired Shares, and Subscriber has sought such accounting, legal and tax advice as Subscriber has considered
necessary to make an informed investment decision.

 

    8

     

    

 

n. Alone, or together
with any professional advisor(s), Subscriber represents and acknowledges that Subscriber has adequately analyzed and fully considered
the risks of an investment in the Acquired Shares and determined that the Acquired Shares are a suitable investment for Subscriber
and that Subscriber is able at this time and in the foreseeable future to bear the economic risk of a total loss of Subscriber’s
investment in the Issuer. Subscriber acknowledges specifically that a possibility of total loss exists.

 

o. Subscriber understands
and agrees that no federal or state agency has passed upon or endorsed the merits of the offering of the Acquired Shares or made
any findings or determination as to the fairness of this investment.

  

p.  Subscriber represents
and warrants that Subscriber is not (i) a person or entity named on the OFAC List, (ii) owned or controlled by, or acting
on behalf of, a person, that is named on an OFAC List; (iii) organized, incorporated, established, located, resident or born
in, or a citizen, national, or the government, including any political subdivision, agency, or instrumentality thereof, of, Cuba,
Iran, North Korea, Syria, the Crimea region of Ukraine, or any other country or territory embargoed or subject to substantial trade
restrictions by the United States, (iv) a Designated National as defined in the Cuban Assets Control Regulations, 31 C.F.R.
Part 515, or (v) a non-U.S. shell bank or providing banking services indirectly to a non-U.S. shell bank (collectively, a
“Prohibited Investor”). Subscriber agrees to provide law enforcement agencies, if requested thereby, such records
as required by applicable law, provided that Subscriber is permitted to do so under applicable law. Subscriber represents that
if it is a financial institution subject to the Bank Secrecy Act (31 U.S.C. section 5311 et seq.) (the “BSA”),
as amended by the USA PATRIOT Act of 2001 (the “PATRIOT Act”), and its implementing regulations (collectively,
the “BSA/PATRIOT Act”), that Subscriber maintains policies and procedures reasonably designed to comply with
applicable obligations under the BSA/PATRIOT Act. Subscriber also represents that, to the extent required, it maintains policies
and procedures reasonably designed to ensure compliance with OFAC-administered sanctions programs, including for the screening
of its investors against the OFAC Lists. Subscriber further represents and warrants that, to the extent required, it maintains
policies and procedures reasonably designed to ensure that the funds held by Subscriber and used to purchase the Acquired Shares
were legally derived.

 

q.  If Subscriber
is an employee benefit plan that is subject to Title I of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”),
a plan, an individual retirement account or other arrangement that is subject to section 4975 of the Code or an employee benefit
plan that is a governmental plan (as defined in section 3(32) of ERISA), a church plan (as defined in section 3(33) of ERISA),
a non-U.S. plan (as described in section 4(b)(4) of ERISA) or other plan that is not subject to the foregoing but may be subject
to provisions under any other federal, state, local, non-U.S. or other laws or regulations that are similar to such provisions
of ERISA or the Code, or an entity whose underlying assets are considered to include “plan assets” of any such plan,
account or arrangement (each, a “Plan”) subject to the fiduciary or prohibited transaction provisions of ERISA
or section 4975 of the Code, Subscriber represents and warrants that (i) neither the Issuer, nor any of its respective affiliates
(the “Transaction Parties”) has acted as the Plan’s fiduciary, or has been relied on for advice,
with respect to its decision to acquire and hold the Acquired Shares, and none of the Transaction Parties shall at any time be
relied upon as the Plan’s fiduciary with respect to any decision to acquire, continue to hold or transfer the Acquired Shares;
(ii) the decision to invest in the Acquired Shares has been made at the recommendation or direction of an “independent
fiduciary” (“Independent Fiduciary”) within the meaning of US Code of Federal Regulations 29 C.F.R. section
2510.3 21(c), as amended from time to time (the “Fiduciary Rule”) who is (1) independent of the Transaction
Parties; (2) is capable of evaluating investment risks independently, both in general and with respect to particular transactions
and investment strategies (within the meaning of the Fiduciary Rule); (3) is a fiduciary (under ERISA and/or section 4975 of the
Code) with respect to Subscriber’s investment in the Acquired Shares and is responsible for exercising independent judgment
in evaluating the investment in the Acquired Shares; and (4) is aware of and acknowledges that (A) none of the Transaction
Parties is undertaking to provide impartial investment advice, or to give advice in a fiduciary capacity, in connection with the
purchaser’s or transferee’s investment in the Acquired Shares, and (B) the Transaction Parties have a financial
interest in the purchaser’s investment in the Acquired Shares on account of the fees and other remuneration they expect to
receive in connection with transactions contemplated by this Subscription Agreement.

 

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r. Subscriber has,
and at the Closing will have, sufficient funds to pay the Purchase Price pursuant to Section 2(a).

 

5.  Registration
Rights.

 

a.  The Issuer agrees
that, within fifteen (15) business days after the Closing Date (the “Filing Date”), the Issuer will file with
the Commission (at the Issuer’s sole cost and expense) a registration statement registering the resale of the Acquired Shares
(the “Registration Statement”), and the Issuer shall use its commercially reasonable efforts to have the Registration
Statement declared effective as soon as practicable after the filing thereof, but no later than the earlier of (i) the 60th
business day (or 80th business day if the Commission notifies the Issuer that it will “review” the Registration Statement)
following the Closing and (ii) the 10th business day after the date the Issuer is notified (orally or in writing, whichever
is earlier) by the Commission that the Registration Statement will not be “reviewed” or will not be subject to further
review (such earlier date, the “Effectiveness Date”); provided, however, that if the Commission is closed
for operations due to a government shutdown, the Effectiveness Date shall be extended by the same amount of days that the Commission
remains closed for operations, provided, further, that the Issuer’s obligations to include the Acquired Shares in
the Registration Statement are contingent upon Subscriber furnishing in writing to the Issuer such information regarding Subscriber,
the securities of the Issuer held by Subscriber and the intended method of disposition of the Acquired Shares as shall be reasonably
requested by the Issuer to effect the registration of the Acquired Shares, and Subscriber shall execute such documents in connection
with such registration as the Issuer may reasonably request that are customary of a selling stockholder in similar situations,
including providing that the Issuer shall be entitled to postpone and suspend the effectiveness or use of the Registration Statement
during any customary blackout or similar period or as permitted hereunder;. Any failure by the Issuer to file the Registration
Statement by the Filing Date or to effect such Registration Statement by the Effectiveness Date shall not otherwise relieve the
Issuer of its obligations to file or effect the Registration Statement as set forth above in this Section 5. The Issuer
will provide a draft of the Registration Statement to the undersigned for review at least two (2) business days in advance of filing
the Registration Statement. In no event shall the undersigned be identified as a statutory underwriter in the Registration Statement
unless requested by the Commission. Notwithstanding the foregoing, if the Commission prevents the Issuer from including any or
all of the shares proposed to be registered under the Registration Statement due to limitations on the use of Rule 415 of the Securities
Act for the resale of the Acquired Shares by the applicable stockholders or otherwise, such Registration Statement shall register
for resale such number of Acquired Shares which is equal to the maximum number of Acquired Shares as is permitted by the SEC. In
such event, the number of Acquired Shares to be registered for each selling shareholder named in the Registration Statement shall
be reduced pro rata among all such selling shareholders. The Issuer will use its commercially reasonable efforts to maintain the
continuous effectiveness of the Registration Statement until all such securities cease to be Registrable Securities (as defined
below) or such shorter period upon which each undersigned party with Registrable Securities included in such Registration Statement
have notified the Issuer that such Registrable Securities have actually been sold. The Issuer will file all reports, and provide
all customary and reasonable cooperation, necessary to enable the undersigned to resell Registrable Securities pursuant to the
Registration Statement or Rule 144 under the Securities Act (“Rule 144”), as applicable, qualify the Registrable Securities
for listing on the applicable stock exchange, update or amend the Registration Statement as necessary to include Registrable Securities
and provide customary notice to holders of Registrable Securities. “Registrable Securities” shall mean, as of any date
of determination, the Acquired Shares and any other equity security of the Issuer issued or issuable with respect to the Acquired
Shares by way of share split, dividend, distribution, recapitalization, merger, exchange, replacement or similar event or otherwise.
As to any particular Registrable Securities, once issued, such securities shall cease to be Registrable Securities at the earliest
of (A) when the undersigned ceases to hold any Acquired Shares, (B) the date all Acquired Shares held by the undersigned may be
sold without restriction under Rule 144, including without limitation, any volume and manner of sale restrictions which may be
applicable to affiliates under Rule 144, other than the requirement for the Issuer to be in compliance with the current public
information required under Rule 144(c), (C) when they shall have ceased to be outstanding or (D) two years from the date of effectiveness
of the Registration Statement.

 

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b. In the case of
the registration, qualification, exemption or compliance effected by the Issuer pursuant to this Subscription Agreement, the Issuer
shall, upon reasonable request, inform Subscriber as to the status of such registration, qualification, exemption and compliance.
At its expense the Issuer shall:

 

(i)  except for
such times as the Issuer is permitted hereunder to suspend the use of the prospectus forming part of a Registration Statement,
use its commercially reasonable efforts to keep such registration, and any qualification, exemption or compliance under state securities
laws which the Issuer determines to obtain, continuously effective with respect to Subscriber, and to keep the applicable Registration
Statement or any subsequent shelf registration statement free of any material misstatements or omissions, until the earliest of
the following: (i) Subscriber ceases to hold any Acquired Shares, (ii) the date all Acquired Shares held by Subscriber
may be sold without restriction under Rule 144, including without limitation, any volume and manner of sale restrictions which
may be applicable to affiliates under Rule 144 and without the requirement for the Issuer to be in compliance with the current
public information required under Rule 144(i)(2), and (iii) two (2) years from the effective date of the Registration Statement.
The period of time during which the Issuer is required hereunder to keep a Registration Statement effective is referred to herein
as the “Registration Period”;

 

(ii)  advise Subscriber
within five (5) business days:

 

(1)  when
a Registration Statement or any amendment thereto has been filed with the Commission and when such Registration Statement or any
post-effective amendment thereto has become effective;

 

(2)  of
any request by the Commission for amendments or supplements to any Registration Statement or the prospectus included therein or
for additional information;

 

(3)  of
the issuance by the Commission of any stop order suspending the effectiveness of any Registration Statement or the initiation of
any proceedings for such purpose;

 

(4)  of
the receipt by the Issuer of any notification with respect to the suspension of the qualification of the Acquired Shares included
therein for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and

 

(5)  subject
to the provisions in this Subscription Agreement, of the occurrence of any event that requires the making of any changes in any
Registration Statement or prospectus so that, as of such date, the statements therein are not misleading and do not omit to state
a material fact required to be stated therein or necessary to make the statements therein (in the case of a prospectus, in the
light of the circumstances under which they were made) not misleading.

 

Notwithstanding anything
to the contrary set forth herein, the Issuer shall not, when so advising Subscriber of such events, provide Subscriber with any
material, nonpublic information regarding the Issuer other than to the extent that providing notice to Subscriber of the occurrence
of the events listed in (1) through (5) above constitutes material, nonpublic information regarding the Issuer;

 

(iii)  use its
commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of any Registration Statement
as soon as reasonably practicable;

 

(iv)  upon the
occurrence of any event contemplated above, except for such times as the Issuer is permitted hereunder to suspend, and has suspended,
the use of a prospectus forming part of a Registration Statement, the Issuer shall use its commercially reasonable efforts to as
soon as reasonably practicable prepare a post-effective amendment to such Registration Statement or a supplement to the related
prospectus, or file any other required document so that, as thereafter delivered to purchasers of the Acquired Shares included
therein, such prospectus will not include any untrue statement of a material fact or omit to state any material fact necessary
to make the statements therein, in the light of the circumstances under which they were made, not misleading;

 

(v)  use its commercially
reasonable efforts to cause all Acquired Shares to be listed on each securities exchange or market, if any, on which the Class A
Shares issued by the Issuer have been listed; and

 

(vi)  use its
commercially reasonable efforts to take all other steps necessary to effect the registration of the Acquired Shares contemplated
hereby and to enable Subscriber to sell the Acquired Shares under Rule 144.

 

    11

     

    

 

c.  Notwithstanding
anything to the contrary in this Subscription Agreement, the Issuer shall be entitled to delay or postpone the effectiveness of
the Registration Statement, and from time to time to require Subscriber not to sell under the Registration Statement or to suspend
the effectiveness thereof, if the negotiation or consummation of a transaction by the Issuer or its subsidiaries is pending or
an event has occurred, which negotiation, consummation or event the Issuer’s board of directors reasonably believes, upon
the advice of legal counsel, would require additional disclosure by the Issuer in the Registration Statement of material information
that the Issuer has a bona fide business purpose for keeping confidential and the non-disclosure of which in the Registration Statement
would be expected, in the reasonable determination of the Issuer’s board of directors, upon the advice of legal counsel,
to cause the Registration Statement to fail to comply with applicable disclosure requirements (each such circumstance, a “Suspension
Event”); provided, however, that the Issuer may not delay or suspend the Registration Statement on more
than two occasions or for more than sixty (60) consecutive calendar days, or more than one hundred and twenty (120) total
calendar days, in each case during any twelve-month period. Upon receipt of any written notice from the Issuer of the happening
of any Suspension Event during the period that the Registration Statement is effective or if as a result of a Suspension Event
the Registration Statement or related prospectus contains any untrue statement of a material fact or omits to state any material
fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they
were made (in the case of the prospectus) not misleading, Subscriber agrees that (i) it will immediately discontinue offers
and sales of the Acquired Shares under the Registration Statement (excluding, for the avoidance of doubt, sales conducted pursuant
to Rule 144) until Subscriber receives copies of a supplemental or amended prospectus (which the Issuer agrees to promptly prepare)
that corrects the misstatement(s) or omission(s) referred to above and receives notice that any post-effective amendment has become
effective or unless otherwise notified by the Issuer that it may resume such offers and sales, and (ii) it will maintain the
confidentiality of any information included in such written notice delivered by the Issuer unless otherwise required by law or
subpoena. If so directed by the Issuer, Subscriber will deliver to the Issuer or, in Subscriber’s sole discretion destroy,
all copies of the prospectus covering the Acquired Shares in Subscriber’s possession; provided, however, that this
obligation to deliver or destroy all copies of the prospectus covering the Acquired Shares shall not apply (i) to the extent
Subscriber is required to retain a copy of such prospectus (a) in order to comply with applicable legal, regulatory, self-regulatory
or professional requirements or (b) in accordance with a bona fide pre-existing document retention policy or (ii) to
copies stored electronically on archival servers as a result of automatic data back-up.

 

d.  Subscriber may
deliver written notice (an “Opt-Out Notice”) to the Issuer requesting that Subscriber not receive notices from
the Issuer otherwise required by this Section 6; provided, however, that Subscriber may later revoke
any such Opt-Out Notice in writing. Following receipt of an Opt-Out Notice from Subscriber (unless subsequently revoked), (i) the
Issuer shall not deliver any such notices to Subscriber and Subscriber shall no longer be entitled to the rights associated with
any such notice and (ii) each time prior to Subscriber’s intended use of an effective Registration Statement, Subscriber
will notify the Issuer in writing at least two (2) business days in advance of such intended use, and if a notice of a Suspension
Event was previously delivered (or would have been delivered but for the provisions of this Section 5(d)) and the related
suspension period remains in effect, the Issuer will so notify Subscriber, within one (1) business day of Subscriber’s notification
to the Issuer, by delivering to Subscriber a copy of such previous notice of Suspension Event, and thereafter will provide Subscriber
with the related notice of the conclusion of such Suspension Event immediately upon its availability.

 

e. Indemnification.

 

 

(i)  The Issuer
agrees to indemnify and hold harmless, to the extent permitted by law, Subscriber, its directors, officers, employees, agents,
each person who controls Subscriber (within the meaning of the Securities Act or the Exchange Act) from and against any and all
losses, claims, damages, liabilities and expenses (including, without limitation, any reasonable attorneys’ fees and expenses
incurred in connection with defending or investigating any such action or claim) caused by any untrue or alleged untrue statement
of material fact contained in any Registration Statement, prospectus included in any Registration Statement (“Prospectus”)
or preliminary Prospectus or any amendment thereof or supplement thereto or document incorporated by reference therein or any omission
or alleged omission of a material fact required to be stated therein or necessary to make the statements therein in light of the
circumstances under which they were made, not misleading, except insofar as the same are caused by or contained in any information
furnished in writing to the Issuer by or on behalf of such Subscriber expressly for use therein; provided, however, that the indemnification
contained in this Section (e) shall not apply to amounts paid in settlement of any Losses if such settlement is effected without
the consent of the Issuer (which consent shall not be unreasonably withheld, conditioned or delayed), nor shall the Issuer be liable
for any Losses to the extent they arise out of or are based upon a violation which occurs (A) in connection with any failure of
such person to deliver or cause to be delivered a Prospectus made available by the Issuer in a timely manner or (B) in connection
with any offers or sales effected by or on behalf of Subscriber in violation of this Agreement.

 

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(ii)  In connection
with any Registration Statement in which Subscriber is participating, Subscriber shall furnish to the Issuer in writing such information
and affidavits as the Issuer reasonably requests for use in connection with any such Registration Statement or Prospectus. Subscriber
agrees, severally and not jointly with any other Person that is a party to the Other Subscription Agreements, to indemnify and
hold harmless, to the extent permitted by law, the Issuer, its directors and officers and agents and employees and each person
who controls the Issuer (within the meaning of the Securities Act) against any losses, claims, damages, liabilities and expenses
(including, without limitation, reasonable attorneys’ fees) resulting from or arising out of any untrue or alleged untrue
statement of material fact contained in the Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof
or supplement thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make
the statements therein in light of the circumstances under which they were made, not misleading, but only to the extent that such
untrue statement or omission is contained in any information or affidavit so furnished in writing by or on behalf of such Subscriber
expressly for use therein; provided, however, that in no event shall the liability of each such Subscriber be greater
in amount than the dollar amount of the net proceeds received by such Subscriber from the sale of Acquired Shares pursuant to such
Registration Statement giving rise to such indemnification obligation.

  

(iii)  Any person
entitled to indemnification herein shall (1) give prompt written notice to the indemnifying party of any claim with respect to
which it seeks indemnification (provided that the failure to give prompt notice shall not impair any person’s right
to indemnification hereunder to the extent such failure has not prejudiced the indemnifying party) and (2) permit such indemnifying
party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed,
the indemnifying party shall not be subject to any liability for any settlement made by the indemnified party without its consent.
An indemnifying party who elects not to assume the defense of a claim shall not be obligated to pay the fees and expenses of more
than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment
of legal counsel to any indemnified party a conflict of interest exists between such indemnified party and any other of such indemnified
parties with respect to such claim. No indemnifying party shall, without the consent of the indemnified party, consent to the entry
of any judgment or enter into any settlement which cannot be settled in all respects by the payment of money (and such money is
so paid by the indemnifying party pursuant to the terms of such settlement) or which settlement does not include as an unconditional
term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such
claim or litigation.

 

(iv)  The indemnification
provided for under this Subscription Agreement shall remain in full force and effect regardless of any investigation made by or
on behalf of the indemnified party or any officer, director, employee, agent, affiliate or controlling person of such indemnified
party and shall survive the transfer of the Acquired Shares.

 

(v)  If the indemnification
provided under this Section 5(e) from the indemnifying party is unavailable or insufficient to hold harmless an indemnified
party in respect of any losses, claims, damages, liabilities and expenses referred to herein, then the indemnifying party, in lieu
of indemnifying the indemnified party, shall contribute to the amount paid or payable by the indemnified party as a result of such
losses, claims, damages, liabilities and expenses in such proportion as is appropriate to reflect the relative fault of the indemnifying
party and the indemnified party, as well as any other relevant equitable considerations. The relative fault of the indemnifying
party and indemnified party shall be determined by reference to, among other things, whether any action in question, including
any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact, was made by,
or relates to information supplied by, such indemnifying party or indemnified party, and the indemnifying party’s and indemnified
party’s relative intent, knowledge, access to information and opportunity to correct or prevent such action. The amount paid
or payable by a party as a result of the losses or other liabilities referred to above shall be deemed to include, subject to the
limitations set forth in Sections 5(e)(i), (ii) and (iii) above, any legal or other fees, charges or expenses reasonably
incurred by such party in connection with any investigation or proceeding. No person guilty of fraudulent misrepresentation (within
the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution pursuant to this Section 5(e)(v) from
any person who was not guilty of such fraudulent misrepresentation.

 

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6.  Termination.
This Subscription Agreement shall terminate and be void and of no further force and effect, and all rights and obligations of the
parties hereunder shall terminate without any further liability on the part of any party in respect thereof, upon the earlier to
occur of (a) such date and time as the Merger Agreement is terminated in accordance with its terms, (b) upon the mutual
written agreement of each of the parties hereto to terminate this Subscription Agreement, (c) if any of the conditions to
Closing set forth in Section 2 of this Subscription Agreement are not satisfied on or prior to the Closing and, as
a result thereof, the transactions contemplated by this Subscription Agreement are not consummated at the Closing or (d) the Outside
Date (as defined in the Merger Agreement); provided, that nothing herein will relieve any party from liability for any willful
breach hereof prior to the time of termination, and each party will be entitled to any remedies at law or in equity to recover
losses, liabilities or damages arising from such breach. The Issuer shall promptly notify Subscriber in writing (including via
email) of the termination of the Merger Agreement.

 

7.  Additional Agreements and Waivers
of Subscriber.

 

a. Trust Account Waiver.
Subscriber acknowledges that the Issuer is a blank check company with the powers and privileges to effect a merger, asset acquisition,
reorganization or similar business combination involving the Issuer and one or more businesses or assets. Subscriber further acknowledges
that, as described in the Issuer’s prospectus relating to its initial public offering dated September 2, 2020 (the “September
2020 Prospectus”), available at sec.gov, substantially all of the Issuer’s assets consist of the cash proceeds
of the Issuer’s initial public offering and private placements of its securities, and substantially all of those proceeds
have been deposited in a trust account (the “Trust Account”) for the benefit of its public stockholders and
the underwriters of its initial public offering. Except with respect to interest earned on the funds held in the Trust Account
that may be released to the Issuer to pay its tax obligations, if any, the cash in the Trust Account may be disbursed only for
the purposes set forth in the September 2020 Prospectus. For and in consideration of the Issuer entering into this Subscription
Agreement, the receipt and sufficiency of which are hereby acknowledged, Subscriber, on behalf of itself and its affiliates and
representatives, hereby irrevocably waives any and all right, title and interest, or any claim of any kind they have or may have
in the future as a result of, or arising out of, this Subscription Agreement, in or to any monies held in the Trust Account, and
agrees not to seek recourse or make or bring any action, suit, claim or other proceeding against the Trust Account as a result
of, or arising out of, this Subscription Agreement, the transactions contemplated hereby or the Acquired Shares, regardless of
whether such claim arises based on contract, tort, equity or any other theory of legal liability; provided however, that
nothing in this Section 7 shall be deemed to limit any Subscriber’s right, title, interest or claim to the Trust Account
by virtue of such Subscriber’s record or beneficial ownership of securities of the Issuer acquired by any means other than
pursuant to this Subscription Agreement, including but not limited to any redemption right with respect to any such securities
of the Issuer. Subscriber acknowledges and agrees that it shall not have any redemption rights with respect to the Acquired Shares
pursuant to the Issuer’s certificate of incorporation in connection with the Transactions or any other business combination,
any subsequent liquidation of the Trust Account or the Issuer or otherwise. In the event Subscriber has any claim against the Issuer
as a result of, or arising out of, this Subscription Agreement, the transactions contemplated hereby or the Acquired Shares, it
shall pursue such claim solely against the Issuer and its assets outside the Trust Account and not against the Trust Account or
any monies or other assets in the Trust Account. This paragraph shall survive any termination of this Subscription Agreement.

 

b. No Hedging.
Subscriber hereby agrees that neither it, nor any person or entity acting on its behalf or pursuant to any understanding with it,
shall execute any short sales or engage in other hedging transactions of any kind with respect to the Acquired Shares during the
period from the date of this Subscription Agreement through the Closing. Nothing in this Section 7(b) shall prohibit such persons
from engaging in hedging transactions with respect to other securities of the Issuer, including Class A Shares acquired in open
market purchases, so long as such person does not create any “put equivalent position,” as such term is defined in
Rule 16a-1 under the Exchange Act, or short sale positions, with respect to the Acquired Shares, nor shall this Section 7(b) prohibit
any other investment portfolios of the Subscriber that have no knowledge of this Subscription Agreement or of Subscriber’s
participation in this transaction (including Subscriber’s controlled affiliates and/or affiliates) from entering into any
short sales or engaging in other hedging transactions.

 

    14

     

    

 

8.  Issuer’s Covenants

 

a.  Except as contemplated
herein, the Issuer, its subsidiaries and their respective affiliates shall not, and shall cause any person acting on behalf of
any of the foregoing to not, take any action or steps that would require registration of the issuance of any of the Acquired Shares
under the Securities Act.

 

b.  With a view
to making available to Subscriber the benefits of Rule 144 promulgated under the Securities Act or any other similar rule or regulation
of the Commission that may at any time permit Subscriber to sell securities of the Issuer to the public without registration, the
Issuer agrees, until the third anniversary of the Closing Date, to:

 

(i) make
and keep public information available, as those terms are understood and defined in Rule 144;

 

(ii) file
with the Commission in a timely manner all reports and other documents required of the Issuer under the Securities Act and the
Exchange Act so long as the Issuer remains subject to such requirements and the filing of such reports and other documents is required
for the applicable provisions of Rule 144; and

 

(iii) furnish
to Subscriber so long as it owns Acquired Shares, promptly upon request, (x) a written statement by the Issuer, if true, that it
has complied with the reporting requirements of Rule 144, the Securities Act and the Exchange Act, (y) a copy of the most recent
annual or quarterly report of the Issuer and such other reports and documents so filed by the Issuer and (z) such other information
as may be reasonably requested to permit Subscriber to sell such securities pursuant to Rule 144 without registration.

 

c. 
The Issuer will use the proceeds from the sale of the Acquired Shares and the shares issued and sold pursuant to the Other Subscription
Agreement solely to finance the Transactions.

 

d.  The legend described
in Section 4(e) shall be removed and the Issuer shall issue a certificate without such legend to the holder of the Acquired
Shares upon which it is stamped or issue to such holder by electronic delivery at the applicable balance account at The Depository
Trust Company (“DTC”), if (i) such Acquired Shares are registered for resale under the Securities Act, (ii)
in connection with a sale, assignment or other transfer, such holder provides the Issuer with an opinion of counsel, in a form
reasonably acceptable to the Issuer, to the effect that such sale, assignment or transfer of the Acquired Shares may be made without
registration under the applicable requirements of the Securities Act, or (iii) the Acquired Shares can be sold, assigned or transferred
pursuant to Rule 144, and in each case, the holder provides the Issuer with an undertaking to effect any sales or other transfers
in accordance with the Securities Act. The Issuer shall be responsible for the fees of its transfer agent and all DTC fees associated
with such issuance.

 

9. Miscellaneous.

 

a.  Each party hereto
acknowledges that the other party hereto and others will rely on the acknowledgments, understandings, agreements, representations
and warranties contained in this Subscription Agreement. Prior to the Closing, each party hereto agrees to promptly notify the
other party hereto if any of the acknowledgments, understandings, agreements, representations and warranties set forth herein with
respect to it are no longer accurate in all material respects. Subscriber further acknowledges and agrees that each of the Placement
Agents is a third-party beneficiary of the representations and warranties of the Subscriber contained in this Subscription Agreement.
The Issuer and the Subscriber acknowledge and agree that Metromile is a third party beneficiary hereof and no consent, waiver,
modification or amendment hereunder or hereof may be given of agreed to by the Issuer without Metromile’s consent.

 

b.  Each of the
Issuer and Subscriber is entitled to rely upon this Subscription Agreement and is irrevocably authorized to produce this Subscription
Agreement or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to
the matters covered hereby. Each of the Placement Agents is entitled to rely upon the representations and warranties made by Subscriber
in this Subscription Agreement.

 

    15

     

    

 

c.  This Subscription
Agreement may not be transferred or assigned without the prior written consent of each of the other parties hereto. Notwithstanding
the foregoing, this Subscription Agreement and any of Subscriber’s rights and obligations hereunder may be assigned to any
fund or account managed by the same investment manager as Subscriber, without the prior consent of the Issuer, provided
that such assignee(s) agrees in writing to be bound by the terms hereof. Upon such assignment by a Subscriber, the assignee(s)
shall become Subscriber hereunder and have the rights and obligations provided for herein to the extent of such assignment; provided
further that, no assignment shall relieve the assigning party of any of its obligations hereunder, including any assignment
to any fund or account managed by the same investment manager as Subscriber. Neither this Subscription Agreement nor any rights
that may accrue to the Issuer hereunder or any of the Issuer’s obligations may be transferred or assigned other than pursuant
to the Transactions. 

 

 

d.  All the representations
and warranties made by each party hereto in this Subscription Agreement shall survive the Closing. All covenants made by each party
hereto in this Subscription Agreement required to be performed after the Closing shall expire upon performance. All other agreements
made by each party hereto in this Subscription Agreement shall expire at the Closing.

 

e.  The Issuer may
request from Subscriber such additional information as the Issuer may deem reasonably necessary to evaluate the eligibility of
Subscriber to acquire the Acquired Shares, and Subscriber shall provide such information as may be reasonably requested, to the
extent readily available and to the extent consistent with its internal policies and procedures; provided, that, the Issuer
agrees to keep any such information provided by Subscriber confidential; provided, further, that upon recipient of such
additional information, the Issuer shall be allowed to convey such information to each Placement Agent and such Placement Agent
shall keep the information confidential, except as may be required by applicable law, rule, regulation or in connection with any
legal proceeding or regulatory request.

 f.  This Subscription
Agreement may not be modified, waived or terminated except by an instrument in writing, signed by the party against whom enforcement
of such modification, waiver, or termination is sought.

 

g.  This Subscription
Agreement constitutes the entire agreement, and supersedes all other prior agreements, understandings, representations and warranties,
both written and oral, among the parties, with respect to the subject matter hereof.

  

h.  Except as otherwise
provided herein, this Subscription Agreement shall be binding upon, and inure to the benefit of the parties hereto and their heirs,
executors, administrators, successors, legal representatives, and permitted assigns, and the agreements, representations, warranties,
covenants and acknowledgments contained herein shall be deemed to be made by, and be binding upon, such heirs, executors, administrators,
successors, legal representatives and permitted assigns.

 

i.  If any provision
of this Subscription Agreement shall be invalid, illegal or unenforceable, the validity, legality or enforceability of the remaining
provisions of this Subscription Agreement shall not in any way be affected or impaired thereby and shall continue in full force
and effect.

 

j.  This Subscription
Agreement may be executed in two (2) or more counterparts (including by electronic means), all of which shall be considered
one and the same agreement and shall become effective when signed by each of the parties and delivered to the other parties, it
being understood that all parties need not sign the same counterpart.

 

k.  Each party shall
pay all of its own expenses in connection with this Subscription Agreement and the transactions contemplated by this Subscription
Agreement.

 

l. The Issuer shall be
responsible for the fees of its transfer agent, the Escrow Agent, stamp taxes and all of DTC’s fees associated with the issuance
of the Acquired Shares.

 

    16

     

    

 

m. Subscriber understands
and agrees that (i) no disclosure or offering document has been prepared by the Placement Agents or any of their respective affiliates
in connection with the offer and sale of the Acquired Shares; (ii) the Placement Agents and their respective directors, officers,
employees, representatives and controlling persons have made no independent investigation with respect to the Issuer, Metromile,
the Transactions or the Acquired Shares or the accuracy, completeness or adequacy of any information supplied to Subscriber by
the Issuer; and (iii) in connection with the issue and purchase of the Acquired Shares, the Placement Agents have not acted as
the Subscriber’s financial advisor, tax or fiduciary.

 

n.  Any notice or
communication required or permitted hereunder shall be in writing and either delivered personally, emailed or telecopied, sent
by overnight mail via a reputable overnight carrier, or sent by certified or registered mail, postage prepaid, and shall be deemed
to be given and received (a) when so delivered personally, (b) upon receipt of an appropriate electronic answerback or
confirmation when so delivered by telecopy (to such number specified below or another number or numbers as such person may subsequently
designate by notice given hereunder), (c) when sent, with no mail undeliverable or other rejection notice, if sent by email, or
(d) five (5) business days after the date of mailing to the address below or to such other address or addresses as such person
may hereafter designate by notice given hereunder:

 

(i)  if to Subscriber,
to such address or addresses set forth on the signature page hereto;

 

(ii)  if to the Issuer, to:

 

2929 Arch Street, Suite 1703

Philadelphia, PA 19104

Attention: Amanda Abrams

Telephone: (484) 459-3476

E-mail: amanda@ftspac.com

 

with a required copy to (which copy shall not constitute
notice):

 

Ledgewood P.C.

Two Commerce Square, Suite 3400

2001 Market Street

Philadelphia, PA 19103

Attention:     Derick S. Kauffman

Telephone:   (215) 731-9450

Facsimile:     (215) 735-2513

E-mail:          dkauffman@ledgewood.com

 

o.  The parties
hereto agree that irreparable damage would occur in the event that any of the provisions of this Subscription Agreement were not
performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties shall be
entitled to seek an injunction or injunctions to prevent breaches of this Subscription Agreement and to enforce specifically the
terms and provisions of this Subscription Agreement, this being in addition to any other remedy to which such party is entitled
at law, in equity, in contract, in tort or otherwise.

 

p.  This Subscription
Agreement, and any claim or cause of action hereunder based upon, arising out of or related to this Subscription Agreement (whether
based on law, in equity, in contract, in tort or any other theory) or the negotiation, execution, performance or enforcement of
this Subscription Agreement, shall be governed by and construed in accordance with the laws of the State of New York, without giving
effect to the principles of conflicts of laws thereof.

 

    17

     

    

 

THE PARTIES HERETO
IRREVOCABLY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, THE
SUPREME COURT OF THE STATE OF NEW YORK AND THE FEDERAL COURTS OF THE UNITED STATES OF AMERICA LOCATED IN THE STATE OF NEW YORK
SOLELY IN RESPECT OF THE INTERPRETATION AND ENFORCEMENT OF THE PROVISIONS OF THIS SUBSCRIPTION AGREEMENT AND THE TRANSACTIONS CONTEMPLATED
HEREBY, AND HEREBY WAIVE, AND AGREE NOT TO ASSERT, AS A DEFENSE IN ANY ACTION, SUIT OR PROCEEDING FOR INTERPRETATION OR ENFORCEMENT
HEREOF OR THAT SUCH ACTION, SUIT OR PROCEEDING MAY NOT BE BROUGHT OR IS NOT MAINTAINABLE IN SAID COURTS OR THAT VENUE THEREOF MAY
NOT BE APPROPRIATE OR THAT THIS SUBSCRIPTION AGREEMENT MAY NOT BE ENFORCED IN OR BY SUCH COURTS, AND THE PARTIES HERETO IRREVOCABLY
AGREE THAT ALL CLAIMS WITH RESPECT TO SUCH ACTION, SUIT OR PROCEEDING SHALL BE HEARD AND DETERMINED BY SUCH A NEW YORK STATE OR
FEDERAL COURT. THE PARTIES HEREBY CONSENT TO AND GRANT ANY SUCH COURT JURISDICTION OVER THE PERSON OF SUCH PARTIES AND OVER THE
SUBJECT MATTER OF SUCH DISPUTE AND AGREE THAT MAILING OF PROCESS OR OTHER PAPERS IN CONNECTION WITH SUCH ACTION, SUIT OR PROCEEDING
IN THE MANNER PROVIDED IN SECTION 9(n) OR IN SUCH OTHER MANNER AS MAY BE PERMITTED BY LAW SHALL BE VALID AND SUFFICIENT
SERVICE THEREOF.

 

EACH PARTY ACKNOWLEDGES
AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY IS LIKELY
TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT
SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS SUBSCRIPTION
AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS SUBSCRIPTION AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO
REPRESENTATIVE, PLACEMENT AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD
NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER; (II) SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE
IMPLICATIONS OF THE FOREGOING WAIVER; (III) SUCH PARTY MAKES THE FOREGOING WAIVER VOLUNTARILY AND (IV) SUCH PARTY HAS
BEEN INDUCED TO ENTER INTO THIS SUBSCRIPTION AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVER AND CERTIFICATIONS IN THIS SECTION
9(p).

 

q.  If, any change
in the Class A Shares shall occur between the date hereof and immediately prior to the Closing by reason of any reclassification,
recapitalization, stock split (including reverse stock split) or combination, exchange or readjustment of shares, or any stock
dividend, the number of Acquired Shares issued to Subscriber shall be appropriately adjusted to reflect such change.

  

r.  The Issuer shall,
by 9:00 a.m., New York City time, on the first (1st) business day immediately following the date of this Subscription Agreement,
issue one or more press releases or file with the Commission a Current Report on Form 8-K (collectively, the “Disclosure
Document”) disclosing all material terms of the transactions contemplated hereby and by the Other Subscription Agreements,
the Transactions and any other material, nonpublic information that the Issuer has provided to Subscriber at any time prior to
the filing of the Disclosure Document. Upon the issuance of the Disclosure Document, to the Issuer’s knowledge, Subscriber
shall not be in possession of any material, non-public information received from the Issuer or any of its officers, directors or
employees or agents (including the Placement Agents) and Subscriber shall no longer be subject to any confidentiality or similar
obligations under any current agreement, whether written or oral with the Issuer or any of its affiliates. Notwithstanding anything
in this Subscription Agreement to the contrary, the Issuer shall not publicly disclose the name of Subscriber or any of its affiliates,
or include the name of Subscriber or any of its affiliates in any press release or in any filing with the Commission or any regulatory
agency or trading market, without the prior written consent of Subscriber, except (i) as required by the federal securities law
and (ii) to the extent such disclosure is required by law, at the request of the Staff of the Commission or regulatory agency or
under the regulations of Nasdaq.

 

[Signature pages follow.]

 

    18

     

    

   

IN WITNESS WHEREOF,
each of the Issuer and Subscriber has executed or caused this Subscription Agreement to be executed by its duly authorized representative
as of the date set forth below.

 

	 	INSU ACQUISITION CORP. II 
	 	 
	 	By:	 
	 	Name:  	John Butler
	 	Title:	CEO and President

 

Date: November ____, 2020

 

Signature Page to

Subscription Agreement

 

     

     

    

  

	SUBSCRIBER:	 
	 	 
	 	Signature of Joint Subscriber, if applicable:
	 	 
	By: ___________________________________

Name:

Title:	By: ___________________________________

Name:

Title:

 

Date: November ____, 2020

 

	Signature of Subscriber:	Signature of Joint Subscriber, if applicable:
	 	 
	___________________________________

(Please print. Please indicate name and

capacity of person signing above)	___________________________________

(Please print. Please indicate name and

capacity of person signing above)
	 	 
	___________________________________

Name in which securities are to be registered

(if different)	 
	 	 
	Email Address:	 
	 	 
	If there are joint investors, please check one:	 
	 	 
	☐ Joint Tenants with Rights of Survivorship	 
	 	 
	☐ Tenants-in-Common	 
	 	 
	☐ Community Property	 
	 	 
	Subscriber’s EIN:  _______________	Joint Subscriber’s EIN:

________________________________
	Business Address:

	Mailing Address-Street (if different):
	 	___________________________________
	 	 
	 	___________________________________

City, State, Zip:
	 	 
	 	Attn:
	 	 
	Telephone No.: ___________________	Telephone No.: ___________________
	 	 
	 	Facsimile No.: ____________________
	 	 
	Aggregate Number of Acquired Shares subscribed for:	 
	_________________	 
	 	 
	Aggregate Purchase Price: $_______________	 

 

You must pay the Purchase Price by wire
transfer of United States dollars in immediately available funds to the account specified by the Issuer in the Closing Notice.

 

Signature Page to

Subscription Agreement

 

     

     

    

 

Number of Acquired Shares subscribed for
and aggregate Purchase Price accepted and agreed to as of this ____ day of November, 2020, by:

 

INSU ACQUISITION CORP. II

 

	By:  	 	 
	Name: 	John Butler	 
	Title:	CEO and President	 

 

Signature Page to

Subscription Agreement

 

     

     

    

 

Number of Acquired Shares subscribed for and aggregate Purchase
Price accepted and agreed to as of this _____ day of November, 2020, by:

  

Signature of Subscriber:

 

	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 

 

Signature Page to

Subscription Agreement

 

     

     

    

 

SCHEDULE A

ELIGIBILITY REPRESENTATIONS OF SUBSCRIBER

 

	A.1.	QUALIFIED INSTITUTIONAL BUYER STATUS

(Please check the applicable subparagraphs):
	 	 
	 	1.	☐ We are a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act (a “QIB”)).
	 	 	 
	 	2.	☐ We are subscribing for the Acquired Shares as a fiduciary or agent for one or more investor accounts, and each owner of such account is a QIB.

 

*** OR ***

 

	A.2.	INSTITUTIONAL ACCREDITED INVESTOR STATUS

(Please check each of the following subparagraphs):
	 	 
	 	1.	☐ We are an “accredited investor” (within the meaning of Rule 501(a) under the Securities Act) or an entity in which all of the equity holders are accredited investors within the meaning of Rule 501(a) under the Securities Act.
	 	 	 
	 	2.	☐ We are not a natural person.

 

*** AND ***

 

	B.	AFFILIATE STATUS

(Please check the applicable box)
	 	 
	 	SUBSCRIBER:
	 	 
	 	☐	is:
	 	 	 
	 	☐	is not:

 

an “affiliate”
(as defined in Rule 144 under the Securities Act) of the Issuer or acting on behalf of an affiliate of the Issuer.

 

*** AND ***

 

	C.	INSTITUTIONAL ACCOUNT STATUS

(Please check the applicable box)
	 	 
	 	FINRA Rule 4512(c) states that an “institutional account” shall mean any person who comes within any of the below listed categories. Subscriber has indicated, by marking and initialing the appropriate box below, the provision(s) below which apply to Subscriber and under which Subscriber accordingly qualifies as an “institutional account.”
	 	 
	 	SUBSCRIBER is:
	 	 
	 	☐	a bank, savings and loan association, insurance company or registered investment company
	 	 	 
	 	☐	an investment adviser registered either with the Commission under Section 203 of the Investment Advisers Act or with a state securities commission (or any agency or office performing like functions); or
	 	 	 
	 	☐	any other person (whether a natural person, corporation, partnership, trust or otherwise) with total assets of at least $50 million.

 

This page should be completed by
Subscriber

and constitutes a part of the Subscription Agreement.

 

 

 

Schedule AExhibit 10.6

 

AMENDED AND RESTATED REGISTRATION RIGHTS
AGREEMENT

 

THIS AMENDED AND
RESTATED REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of [●], 2021, is made
and entered into by and among each of INSU Acquisition Corp. II, a Delaware corporation (the “Company”),
Insurance Acquisition Sponsor II, LLC, a Delaware limited liability company, Dioptra Advisors II, LLC, a Delaware limited liability
company and INSU PIPE Sponsor II, LLC (collectively, the “Sponsor”), Cantor Fitzgerald & Co., a
New York general partnership (“Cantor”), the Former MetroMile Stockholders (as defined below) and any
person or entity who hereafter becomes a party to this Agreement pursuant to Section 5.2 of this Agreement (each, a “Holder”
and collectively, the “Holders”).

 

RECITALS

 

WHEREAS, the
Company has issued the Sponsor an aggregate of 7,846,667 shares (the “Founder Shares”) of the Company’s
Class B common stock, $0.0001 par value per share (the “Class B Common Stock”);

 

WHEREAS, the
Founder Shares are convertible into shares of the Company’s Class A common stock, par value $0.0001 per share (the “Common
Stock”), on the terms and conditions provided in the Company’s amended and restated certificate of incorporation;

 

WHEREAS, the
Sponsor and Cantor purchased an aggregate of 540,000 units of the Company (each, a “Placement Unit” and
collectively, the “Placement Units”), each Placement Unit consisting of one share of Common Stock (each,
a “Placement Share” and collectively, the “Placement Shares”) and one third
of one warrant to purchase one share of Common Stock (each, a “Placement Warrant” and collectively, the
“Placement Warrants”) in a private placement transaction (the “Private Placement”)
occurring simultaneously with the closing of the Company’s initial public offering (the “IPO”);

 

WHEREAS, on
September 2, 2020, the Company, the Sponsor and Cantor entered into a Registration Rights Agreement (the “Original
Agreement”), pursuant to which the Company granted the Sponsor and Cantor certain registration rights with respect
to certain securities of the Company;

 

WHEREAS, on
the date hereof, upon the closing of the transactions (such transactions, the “Transactions”) contemplated
by that certain Agreement and Plan of Merger and Reorganization, dated as of November 24, 2020 (the “Merger Agreement”),
by and among the Company, INSU II Merger Sub Corp., a Delaware corporation, and MetroMile, Inc., a Delaware corporation (“MetroMile”),
each outstanding share of MetroMile common stock shall be converted into the right to receive cash (if available) and shares of
Common Stock;

 

WHEREAS, on
the date hereof, upon the closing of the Transactions, 6,669,667 of the Founder Shares will be converted into shares of
Common Stock, on the terms and conditions provided in the Company’s amended and restated certificate of incorporation;

 

WHEREAS, on
the date hereof, the Sponsor has purchased an aggregate of [●] shares of Common Stock in a transaction exempt from registration
under the Securities Act (such transaction, the “PIPE” and such shares, the “PIPE Shares”);
and

 

WHEREAS, in
connection with the purchase of the PIPE Shares and the consummation of the Transactions, the Company and the Holders desire to
amend and restate the Original Agreement in order to provide the Holders with registration rights on the terms set forth herein.

 

     
 

     

    

 

NOW, THEREFORE,
in consideration of the representations, covenants and agreements contained herein, and certain other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as
follows:

 

ARTICLE I

DEFINITIONS

 

1.1 Definitions.
The terms defined in this Article I shall, for all purposes of this Agreement, have the respective meanings set forth below:

 

“Adverse
Disclosure” shall mean any public disclosure of material non-public information, which disclosure, in the good faith
judgment of the Board or the Chairman, Chief Executive Officer or principal financial officer of the Company (i) would be required
to be made in any Registration Statement or Prospectus in order for the applicable Registration Statement or Prospectus not to
contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements contained therein
(in the case of any Prospectus and any preliminary Prospectus, in the light of the circumstances under which they were made) not
misleading, (ii) would not be required to be made at such time if the Registration Statement were not being filed, and (iii) the
Company has a bona fide business purpose for not making such information public.

 

“Agreement”
shall have the meaning given in the Preamble.

 

“Board”
shall mean the Board of Directors of the Company.

 

“Business
Day” means any day, other than a Saturday or a Sunday, that is neither a legal holiday nor a day on which banking
institutions are generally authorized or required by law or regulation to close in the City of New York, New York.

 

“Cantor”
shall have the meaning given in the Preamble.

 

“Commission”
shall mean the Securities and Exchange Commission.

 

“Common
Stock” shall have the meaning given in the Recitals hereto.

 

“Company”
shall have the meaning given in the Preamble.

 

“Demand
Exercise Notice” shall have the meaning given in subsection 2.1.2.

 

“Demanding
Holders” shall have the meaning given in subsection 2.1.1(b).

 

“Demand
Registration” shall have the meaning given in subsection 2.1.2.

 

“Demand
Registration Period” shall have the meaning given in subsection 2.1.2.

 

“Demand
Registration Request” shall have the meaning given in subsection 2.1.2.

 

“Exchange
Act” shall mean the Securities Exchange Act of 1934, as it may be amended from time to time.

 

“Filing
Date” shall have the meaning given in subsection 2.1.1(a).

 

“Former
MetroMile Stockholders” shall mean former holders of MetroMile common stock who hold five percent (5%) or more of
the Common Stock following the Transactions.

 

“Form S-1”
shall mean Form S-1 for the registration of securities under the Securities Act promulgated by the Commission.

 

“Form S-3”
shall mean Form S-3 for the registration of securities under the Securities Act promulgated by the Commission.

 

“Founder
Lock-up Period” shall mean, with respect to the Founder Shares, the period ending (x)(a) with respect to 1,569,333
of such shares, on the date hereof, (b) with respect to 2,550,167 of such shares, when the closing price of the Common Stock exceeds
$15.00 for any 20 trading days within a 30-trading day period following the date hereof and (c) with respect to 2,550,167 of such
shares, when the closing price of the Common Stock exceeds $17.00 for any 20 trading days within a 30-trading day period following
the date hereof, or (y) in any case, if, after the date hereof, 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

     

    

  

“Founder
Shares” shall have the meaning given in the Recitals hereto.

 

“Holders”
shall have the meaning given in the Preamble.

 

“Initial
Stockholders” shall mean the Sponsor.

 

“Initiating
Holders” shall have the meaning given in subsection 2.1.2.

 

“IPO”
shall have the meaning set forth in the Recitals hereto.

 

“Letter
Agreement” shall mean the letter agreement by and among the Company, the Company’s officers and directors,
the Sponsor and the other parties thereto.

 

“Maximum
Number of Securities” shall have the meaning given in subsection 2.1.3.

 

“Merger
Agreement” shall have the meaning set forth in the Recitals hereto.

 

“Minimum
Demand Threshold” shall mean $30,000,000.

 

“Misstatement”
shall mean an untrue statement of a material fact or an omission to state a material fact required to be stated in a Registration
Statement, preliminary Prospectus or Prospectus, or necessary to make the statements in a Registration Statement, preliminary Prospectus
or Prospectus, in light of the circumstances under which they were made, not misleading.

 

“Original
Agreement” shall have the meaning set forth in the Recitals hereto.

 

“Permitted
Transferees” shall mean any person or entity to whom a Holder of Registrable Securities is permitted to transfer
such Registrable Securities prior to the expiration of the Founder Lock-up Period or Placement Unit Lock-up Period, as the case
may be, under the Letter Agreement, the Placement Unit Subscription Agreements and any other applicable agreement between such
Holder and the Company, and to any transferee thereafter.

 

“Piggy-back
Registration” shall have the meaning given in Section 2.2.1.

 

“PIPE”
shall have the meaning set forth in the Recitals hereto.

 

“PIPE Shares”
shall have the meaning set forth in the Recitals hereto.

 

“Placement
Share” or “Placement Shares” shall have the meaning given in the Recitals hereto.

 

“Placement
Unit Lock-up Period” shall mean, with respect to the Placement Units, Placement Shares, Placement Warrants and any
of the shares of Common Stock issued or issuable upon the exercise of such Placement Warrants, a period terminating 30 days after
the date hereof, subject to certain exceptions set forth in the Letter Agreement and the Placement Unit Subscription Agreements.

 

“Placement
Unit” or “Placement Units” shall have the meaning given in the Recitals hereto.

 

“Placement
Unit Subscription Agreements” shall mean, collectively, (i) the Unit Subscription Agreement, dated September 2, 2020,
between the Company and the Sponsor, and (ii) the Unit Subscription Agreement, dated September 2, 2020, between the Company and
Cantor.

 

“Placement
Warrant” or “Placement Warrants” shall have the meaning given in the Recitals hereto.

 

    3

     

    

  

“Private
Placement” shall have the meaning given in the Recitals hereto.

 

“Pro Rata”
shall have the meaning given in Section 2.1.3.

 

“Prospectus”
shall mean the prospectus included in any Registration Statement, as supplemented by any and all prospectus supplements and as
amended by any and all post-effective amendments and including all materials incorporated by reference in such prospectus.

 

“Prospectus
Date” shall mean the date of the final Prospectus filed with the Commission and relating to the IPO.

 

“Registrable
Security” shall mean (a) the shares of Common Stock issued or issuable upon the conversion of any Founder Shares,
(b) the Placement Warrants (including any shares of Common Stock issued or issuable upon the exercise of any such Placement Warrants),
(c) the Placement Shares, (d) the PIPE Shares, (e) the shares of Common Stock issued or issuable pursuant to the Merger Agreement
and (f) any other equity security of the Company issued or issuable with respect to any such shares of Common Stock by way of a
stock dividend or stock split or in connection with a combination of stock, acquisition, recapitalization, consolidation, reorganization,
stock exchange, stock reconstruction and amalgamation or contractual control arrangement with, purchasing all or substantially
all of the assets of, or engagement in any other similar transaction; provided, however, that, as to any particular Registrable
Security, such securities shall cease to be Registrable Securities when: (i) if a Registration Statement with respect to the sale
of such securities shall have become effective under the Securities Act, at the earlier of (A) one year following the date the
Registration Statement is declared effective or (B) the date that such securities shall have been sold, transferred, disposed of
or exchanged in accordance with such Registration Statement; (ii) such securities may otherwise be transferred, new certificates
or book entries credits for such securities not bearing a legend restricting further transfer shall have been delivered by the
Company and subsequent public distribution of such securities shall not require registration under the Securities Act; (iii) such
securities shall have ceased to be outstanding; (iv) such securities have been sold to, or through, a broker, dealer or underwriter
in a public distribution or other public securities transaction; or (v) such securities may be sold without registration pursuant
to Rule 144 promulgated under the Securities Act (or any successor rule promulgated by the Commission) without limitation as to
volume and manner of sale.

 

“Registration”
shall mean a registration effected by preparing and filing a Registration Statement or similar document in compliance with the
requirements of the Securities Act, and the applicable rules and regulations promulgated thereunder, and such Registration Statement
becoming effective.

 

“Registration
Expenses” shall mean the out-of-pocket expenses of a Registration, including, without limitation, the following:

 

(A) all registration
and filing fees (including fees with respect to filings required to be made with the Financial Industry Regulatory Authority and
any securities exchange on which the Common Stock is then listed);

 

(B) fees and expenses
of compliance with securities or blue sky laws (including reasonable fees and disbursements of counsel for the Underwriters in
connection with blue sky qualifications of Registrable Securities);

 

(C) printing, messenger,
telephone and delivery expenses;

 

(D) reasonable fees
and disbursements of counsel for the Company

 

(E) reasonable and
documented fees and disbursements (not to exceed $100,000 in the aggregate for all Registrations hereunder) of one counsel for
the Sponsor and its affiliates, which shall be selected by Cohen & Company, LLC; and

 

(F) reasonable fees
and disbursements of all independent registered public accountants of the Company incurred specifically in connection with such
Registration.

 

“Registration
Statement” shall mean any registration statement that covers the Registrable Securities pursuant to the provisions
of this Agreement, including the Prospectus included in such registration statement, amendments (including post-effective amendments)
and supplements to such registration statement, and all exhibits to and all materials incorporated by reference in such registration
statement.

 

    4

     

    

  

“Requesting
Holder” shall have the meaning given in subsection 2.1.3.

 

“Securities
Act” shall mean the Securities Act of 1933, as amended from time to time.

 

“Shelf
Registrable Securities” shall have the meaning given in subsection 2.1.1(b).

 

“Shelf
Registration Statement” shall have the meaning given in subsection 2.1.1(a).

 

“Shelf
Underwriting” shall have the meaning given in subsection 2.1.1(b).

 

“Shelf
Underwriting Notice” shall have the meaning given in subsection 2.1.1(b).

 

“Shelf
Underwriting Request” shall have the meaning given in subsection 2.1.1(b).

 

“Sponsor”
shall have the meaning given in the Preamble.

 

“Transactions”
shall have the meaning set forth in the Recitals hereto.

 

“Underwriter”
shall mean a securities dealer who purchases any Registrable Securities as principal in an Underwritten Offering and not as part
of such dealer’s market-making activities.

 

“Underwritten
Block Trade” shall have the meaning given in Section 2.1.1(b).

 

“Underwritten
Registration” or “Underwritten Offering” shall mean a Registration in which securities
of the Company are sold to an Underwriter in a firm commitment underwriting for distribution to the public.

 

ARTICLE II

REGISTRATIONS

 

2.1 Demand
Registration.

 

2.1.1 Shelf
Registration Statement. (a) As soon as practicable but no later than fifteen (15) Business Days after the date hereof (the
“Filing Date”), the Company shall prepare and file with (or confidentially submit to) the Commission
a shelf registration statement under Rule 415 of the Securities Act (such registration statement, a “Shelf Registration
Statement”) covering the resale of all the Registrable Securities (determined as of two Business Days prior to such
filing) on a delayed or continuous basis and shall use its commercially reasonable efforts to have such Shelf Registration Statement
declared effective as soon as practicable after the filing thereof and no later than the earlier of (x) the 60th Business
Day (or 80th Business Day if the Commission notifies the Company that it will “review” the Registration
Statement) following the date hereof and (y) the 10th Business Day after the date the Company is notified (orally or
in writing, whichever is earlier) by the Commission that the Registration Statement will not be “reviewed” or will
not be subject to further review. Such Shelf Registration Statement shall provide for the resale of the Registrable Securities
included therein pursuant to any method or combination of methods legally available to, and requested by, any Holder named therein.
The Company shall use its commercially reasonable efforts to maintain the Shelf Registration Statement in accordance with the terms
hereof, and shall prepare and file with the Commission such amendments, including post-effective amendments, and supplements as
may be necessary to keep a Shelf Registration Statement continuously effective, available for use to permit all Holders named therein
to sell their Registrable Securities included therein and in compliance with the provisions of the Securities Act until such time
as there are no longer any Registrable Securities.

 

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(b) Subject to Section
2.3 and Section 2.4, (i) the Holders of a majority-in-interest of the then outstanding number of Registrable Securities held by
the Initial Stockholders or the transferees of the Initial Stockholders, (ii) the Holders of a majority-in-interest of the then
outstanding number of Registrable Securities held by the Former MetroMile Stockholders or the transferees of the Former MetroMile
Stockholders or (iii) Cantor or its designees (the “Demanding Holders”), may make a written demand from
time to time to elect to sell all or any part of their Registrable Securities, with a total offering price reasonably expected
to exceed, in the aggregate, the Minimum Demand Threshold, pursuant to an Underwritten Offering pursuant to the Shelf Registration
Statement, which written demand shall describe the amount and type of securities to be included in such Registration and the intended
method(s) of distribution thereof. The Demanding Holders shall make such election by delivering to the Company a written request
(a “Shelf Underwriting Request”) for such Underwritten Offering specifying the number of Registrable
Securities that the Demanding Holders desire to sell pursuant to such Underwritten Offering (the “Shelf Underwriting”).
As promptly as practicable, but no later than two (2) Business Days after receipt of a Shelf Underwriting Request, the Company
shall give written notice (the “Shelf Underwriting Notice”) of such Shelf Underwriting Request to the
Holders of record of other Registrable Securities registered on such Shelf Registration Statement (“Shelf Registrable
Securities”). The Company, subject to Section 2.1.3, shall include in such Shelf Underwriting (x) the Registrable
Securities of the Demanding Holders and (y) the Shelf Registrable Securities of any other Holder of Shelf Registrable Securities
which shall have made a written request to the Company for inclusion in such Shelf Underwriting (which request shall specify the
maximum number of Shelf Registrable Securities intended to be disposed of by such Holder) within five (5) days after the receipt
of the Shelf Underwriting Notice. The Company shall, as expeditiously as possible (and in any event within fifteen (15) Business
Days after the receipt of a Shelf Underwriting Request), but subject to Section 2.3, use its reasonable best efforts to effect
such Shelf Underwriting. The Company shall, at the request of any Demanding Holders, file any prospectus supplement or, if the
applicable Shelf Registration Statement is an automatic shelf registration statement, any post-effective amendments and otherwise
take any action necessary to include therein all disclosure and language deemed necessary or advisable by the Demanding Holders
or any other Holder of Shelf Registrable Securities to effect such Shelf Underwriting. Once a Shelf Registration Statement has
been declared effective, the Demanding Holders may request, and the Company shall be required to facilitate, an aggregate of three
(3) Shelf Underwritings pursuant to this subsection 2.1.1(b) with respect to any or all Registrable Securities, including one (1)
Shelf Underwriting on behalf of Cantor; provided, however, that a Shelf Underwriting shall not be counted for such purposes unless
a Registration Statement has become effective and all of the Registrable Securities requested by the Demanding Holders to be registered
on behalf of the Demanding Holders in such Shelf Underwriting have been sold; and provided, further, that the number of Shelf Underwritings
the Demanding Holders shall be entitled to request shall be reduced by each Demand Registration effected for such Demanding Holder
pursuant to Section 2.1.2. Notwithstanding the foregoing, if a Demanding Holder wishes to engage in an underwritten block trade
or similar transaction or other transaction with a 2-day or less marketing period (collectively, “Underwritten Block
Trade”) off of a Shelf Registration Statement, then notwithstanding the foregoing time periods, such Demanding Holder
only needs to notify the Company of the Underwritten Block Trade two (2) Business Days prior to the day such offering is to commence
and the Holders of record of other Registrable Securities shall not be entitled to notice of such Underwritten Block Trade and
shall not be entitled to participate in such Underwritten Block Trade; provided, however, that the Demanding
Holder requesting such Underwritten Block Trade shall use commercially reasonable efforts to work with the Company and the underwriters
prior to making such request in order to facilitate preparation of the registration statement, prospectus and other offering documentation
related to the Underwritten Block Trade.

 

2.1.2 Other
Demand Registration. At any time that a Shelf Registration Statement provided for in Section 2.1.1(a) is not available
for use by the Holders following such Shelf Registration Statement being declared effective by the Commission (a “Demand
Registration Period”), subject to this Section 2.1.2 and Section 2.3 and Section 2.4, at any
time and from time to time during such Demand Registration Period, the Demanding Holders shall have the right to make a written
demand from time to time to effect one or more registration statements under the Securities Act covering all or any part of their
Registrable Securities, with a total offering price reasonably expected to exceed, in the aggregate, the Minimum Demand Threshold,
by delivering a written demand therefor to the Company, which written demand shall describe the amount and type of securities to
be included in such Registration and the intended method(s) of distribution thereof. Any such request by any Demanding Holder pursuant
to this Section 2.1.2 is referred to herein as a “Demand Registration Request,” and the registration
so requested is referred to herein as a “Demand Registration” (with respect to any Demand Registration,
the Demanding Holders making such demand for registration being referred to as the “Initiating Holders”).
Subject to Section 2.3, the Demanding Holders shall be entitled to request (and the Company shall be required to effect)
an aggregate of three (3) Demand Registrations pursuant to this subsection 2.1.2 with respect to any or all Registrable Securities,
including one (1) Demand Registration on behalf of Cantor; provided, however, that a Demand Registration shall not be counted for
such purposes unless a Registration Statement has become effective and all of the Registrable Securities requested by the Demanding
Holders to be registered on behalf of the Demanding Holders in such Demand Registration have been sold; and provided, further,
that the number of Demand Registrations the Demanding Holders shall be entitled to request shall be reduced by each Shelf Underwriting
effected for such Demanding Holder pursuant to Section 2.1.1(b). The Company shall give written notice (the “Demand
Exercise Notice”) of such Demand Registration Request to each of the Holders of record of Registrable Securities
as promptly as practicable but no later than two (2) Business Days after receipt of the Demand Registration Request. The Company,
subject to Sections 2.3 and 2.4, shall include in a Demand Registration (x) the Registrable Securities of the Initiating
Holders and (y) the Registrable Securities of any other Holder of Registrable Securities which shall have made a written request
to the Company for inclusion in such registration pursuant to Section 2.1.2 (which request shall specify the maximum number
of Registrable Securities intended to be disposed of by such Holder) within five (5) days following the receipt of any such Demand
Exercise Notice. The Company shall, as expeditiously as possible, but subject to Section 2.3, use its reasonable best efforts
to (x) file or confidentially submit with the Commission (no later than (A) sixty (60) days from the Company’s receipt of
the applicable Demand Registration Request if the Demand Registration is on Form S-1 or similar long-form registration or (B) thirty
(30) days from the Company’s receipt of the applicable Demand Registration Request if the Demand Registration is on Form
S-3 or any similar short-form registration), (y) cause to be declared effective as soon as reasonably practicable such registration
statement under the Securities Act that includes the Registrable Securities which the Company has been so requested to register,
for distribution in accordance with the intended method of distribution and (z) if requested by the Initiating Holders, obtain
acceleration of the effective date of the registration statement relating to such registration.

 

    6

     

    

  

2.1.3 Reduction
of Underwritten Offering. If the managing Underwriter or Underwriters in an Underwritten Registration pursuant to a Shelf Underwriting
or Demand Registration, in good faith, advises the Company, the Demanding Holders and any other Holders participating in the Underwritten
Registration (if any) (the “Requesting Holders”) in writing that the dollar amount or number of Registrable
Securities that such Holders desire to sell, taken together with all other shares of Common Stock or other equity securities that
the Company desires to sell and the shares of Common Stock, if any, as to which a Registration has been requested pursuant to separate
written contractual piggy-back registration rights held by any other stockholders who desire to sell, exceeds the maximum dollar
amount or maximum number of equity securities that can be sold in the Underwritten Offering without adversely affecting the proposed
offering price, the timing, the distribution method, or the probability of success of such offering (such maximum dollar amount
or maximum number of such securities, as applicable, the “Maximum Number of Securities”), then the Company
shall include in such Underwritten Offering, as follows: (i) first, the Registrable Securities of the Demanding Holders and the
Requesting Holders (if any) (pro rata based on the respective number of Registrable Securities that each Demanding Holder and Requesting
Holder (if any) has requested be included in such Underwritten Registration and the aggregate number of Registrable Securities
that the Demanding Holders and Requesting Holders have collectively requested be included in such Underwritten Registration (such
proportion is referred to herein as “Pro Rata”)) that can be sold without exceeding the Maximum Number
of Securities; (ii) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause
(i), the shares of Common Stock or other equity securities that the Company desires to sell that can be sold without exceeding
the Maximum Number of Securities; and (iii) third, to the extent that the Maximum Number of Securities has not been reached under
the foregoing clauses (i) and (ii), the shares of Common Stock or other equity securities of other persons or entities that the
Company is obligated to register in a Registration pursuant to separate written contractual arrangements with such persons and
that can be sold without exceeding the Maximum Number of Securities.

 

2.1.4 Demand
Registration Withdrawal. A majority-in-interest of the Demanding Holders initiating a Shelf Underwriting or Demand Registration,
pursuant to a Registration under subsection 2.1.1 or 2.1.2 shall have the right in their sole discretion to withdraw from a Registration
pursuant to such Demand Registration upon written notification to the Company and the Underwriter or Underwriters (if any) of their
intention to withdraw from such Registration prior to (i) in the case of a Shelf Underwriting, the filing of a preliminary prospectus
supplement setting forth the terms of the Underwritten Offering with the Commission and (ii) in the case of a Demand Registration,
the effectiveness of the Registration Statement filed with the Commission with respect to the Registration of their Registrable
Securities pursuant to such Demand Registration. Notwithstanding anything to the contrary in this Agreement, the Company shall
be responsible for the Registration Expenses incurred in connection with a Registration pursuant to a Shelf Underwriting or Demand
Registration prior to its withdrawal under this subsection 2.1.4.

 

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2.2 Piggy-back
Registration.

 

2.2.1 Piggy-back
Rights. If, at any time on or after the date hereof, the Company proposes to file a Registration Statement under the Securities
Act with respect to an offering of equity securities, or securities or other obligations exercisable or exchangeable for, or convertible
into equity securities, for its own account or for the account of stockholders of the Company (or by the Company and by the stockholders
of the Company including, without limitation, pursuant to Section 2.1 hereof), other than a Registration Statement (i) filed in
connection with any employee stock option or other benefit plan, (ii) for an exchange offer, as part of a merger, consolidation
or similar transaction or for an offering of securities solely to the Company’s existing stockholders, (iii) for an offering
of debt that is convertible into equity securities of the Company, or (iv) for a dividend reinvestment plan, then the Company shall
give written notice of such proposed filing to all of the Holders of Registrable Securities as soon as practicable but not less
than ten (10) days before the anticipated filing date of such Registration Statement, which notice shall (A) describe the amount
and type of securities to be included in such offering, the intended method(s) of distribution, and the name of the proposed managing
Underwriter or Underwriters, if any, in such offering, and (B) offer to all of the Holders of Registrable Securities the opportunity
to register the sale of such number of Registrable Securities as such Holders may request in writing within five (5) Business Days
after receipt of such written notice (such Registration a “Piggy-back Registration”). The Company shall,
in good faith, cause such Registrable Securities to be included in such Piggy-back Registration and shall use its best efforts
to cause the managing Underwriter or Underwriters of a proposed Underwritten Offering to permit the Registrable Securities requested
by the Holders pursuant to this subsection 2.2.1 to be included in a Piggy-back Registration on the same terms and conditions as
any similar securities of the Company included in such Registration and to permit the sale or other disposition of such Registrable
Securities in accordance with the intended method(s) of distribution thereof. All such Holders proposing to distribute their Registrable
Securities through an Underwritten Offering under this subsection 2.2.1 shall enter into an underwriting agreement in customary
form with the Underwriter(s) selected for such Underwritten Offering by the Company. The Company may postpone or withdraw the filing
or the effectiveness of a Piggyback Registration at any time in its sole discretion.

 

2.2.2 Reduction
of Piggy-back Registration. If the managing Underwriter or Underwriters in an Underwritten Registration that is to be a Piggy-back
Registration, in good faith, advises the Company and the Holders of Registrable Securities participating in the Piggy-back Registration
in writing that the dollar amount or number of the shares of Common Stock that the Company desires to sell, taken together with
(i) the shares of Common Stock, if any, as to which Registration has been demanded pursuant to separate written contractual arrangements
with persons or entities other than the Holders of Registrable Securities hereunder, (ii) the Registrable Securities as to which
registration has been requested pursuant to Section 2.2.1 hereof, and (iii) the shares of Common Stock, if any, as to which Registration
has been requested pursuant to separate written contractual piggy- back registration rights of other stockholders of the Company,
exceeds the Maximum Number of Securities, then:

 

(a) If the Registration
is undertaken for the Company’s account, the Company shall include in any such Registration (A) first, the shares of Common
Stock or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum Number of Securities;
(B) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (A), the Registrable
Securities of Holders exercising their rights to register their Registrable Securities pursuant to subsection 2.2.1 hereof, Pro
Rata, which can be sold without exceeding the Maximum Number of Securities; and (C) third, to the extent that the Maximum Number
of Securities has not been reached under the foregoing clauses (A) and (B), the shares of Common Stock, if any, as to which Registration
has been requested pursuant to written contractual registration rights of other stockholders of the Company, Pro Rata, which can
be sold without exceeding the Maximum Number of Securities; and

 

(b) If the Registration
is pursuant to a request by persons or entities other than the Holders of Registrable Securities, then the Company shall include
in any such Registration (A) first, the shares of Common Stock or other equity securities, if any, of such requesting persons or
entities, which can be sold without exceeding the Maximum Number of Securities; (B) second, to the extent that the Maximum Number
of Securities has not been reached under the foregoing clause (A), the Registrable Securities of Holders exercising their rights
to register their Registrable Securities pursuant to subsection 2.2.1, Pro Rata, which can be sold without exceeding the Maximum
Number of Securities (C) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses
(A) and (B), the shares of Common Stock or other equity securities that the Company desires to sell which can be sold without exceeding
the Maximum Number of Securities; and (D) fourth, to the extent that the Maximum Number of Securities has not been reached under
the foregoing clauses (A), (B) and (C), the shares of Common Stock or other equity securities for the account of other persons
or entities that the Company is obligated to register pursuant to separate written contractual arrangements with such persons or
entities, Pro Rata, which can be sold without exceeding the Maximum Number of Securities.

 

    8

     

    

  

2.2.3 Piggy-back
Registration Withdrawal. Any Holder of Registrable Securities shall have the right to withdraw from a Piggy-back Registration
for any or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters (if any) of his, her
or its intention to withdraw from such Piggy-back Registration prior to the effectiveness of the Registration Statement filed with
the Commission with respect to such Piggy-back Registration. The Company (in its sole discretion or as the result of a request
for withdrawal by persons pursuant to separate written contractual obligations) may postpone or withdraw the filing or effectiveness
of a Piggy-back Registration. Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for
the Registration Expenses incurred in connection with the Piggy-back Registration prior to its withdrawal under this subsection
2.2.3.

 

2.2.4 Unlimited
Piggy-back Registration Rights. For purposes of clarity, any Registration effected pursuant to Section 2.2 hereof shall not
be counted as a Registration pursuant to a Shelf Underwriting or Demand Registration effected under Section 2.1 hereof.

 

2.3 Restrictions
on Registration Rights. The Company shall not be obligated to effect any Shelf Underwriting or Demand Registration within 180
days after the effective date of a previous Shelf Underwriting or Demand Registration or a previous Piggy-back Registration in
which holders of Registrable Securities were permitted to register 75% of the Registrable Securities requested to be included therein.
If in the good faith judgment of the Board, Registration would be detrimental to the Company and the Board concludes as a result
that it is essential to defer the filing of such Registration Statement or the undertaking of such Underwritten Offering at such
time, then in each case the Company shall furnish to such Holders a certificate signed by the Chairman of the Board stating that
in the good faith judgment of the Board it would be detrimental to the Company for such Registration Statement to be filed or to
undertake such Underwritten Offering in the near future and that it is therefore essential to defer the filing of such Registration
Statement or undertaking of such Underwritten Offering, then in such event, the Company shall have the right to defer its obligation
for up to 120 days; provided, however, that the Company shall not defer its obligation in this manner more than twice in any period
of twelve consecutive months.

 

2.4 Lock-Up.
Notwithstanding anything to the contrary in this Agreement, the Company shall not be obligated to effect any Shelf Underwriting,
Demand Registration or Piggy-back Registration of (i) any Founder Shares subject to the Founder Lock-Up Period prior to the expiration
of the Founder Lock-Up Period applicable to such Founder Shares, (ii) any Placement Units, Placement Shares or Placement Warrants
during the Placement Unit Lock-Up Period or (iii) any Registrable Securities held by the Former MetroMile Stockholders prior to
the expiration of the applicable Lock-Up Agreement (as defined in the Merger Agreement). Nothing in this Section 2.4 shall limit
the Company’s obligation to register all of the Registrable Securities, including such Founder Shares, Placement Units, Placement
Shares and Placement Warrants, on the Shelf Registration Statement required pursuant to Section 2.1.1(a).

 

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ARTICLE III

COMPANY PROCEDURES

 

3.1 General
Procedures. If at any time on or after the date hereof the Company is required to effect the Registration of Registrable Securities,
the Company shall use its reasonable best efforts to effect such Registration to permit the sale of such Registrable Securities
in accordance with the intended plan of distribution thereof, and pursuant thereto the Company shall:

 

3.1.1 prepare
and file with the Commission a Registration Statement with respect to such Registrable Securities and use its reasonable best efforts
to cause such Registration Statement to become effective and remain effective until all Registrable Securities covered by such
Registration Statement have been sold;

 

3.1.2 prepare
and file with the Commission such amendments and post-effective amendments to the Registration Statement, and such supplements
to the Prospectus, as may be reasonably requested by any Holder or any Underwriter of Registrable Securities or as may be required
by the rules, regulations or instructions applicable to the registration form used by the Company or by the Securities Act or rules
and regulations thereunder to keep the Registration Statement effective until all Registrable Securities covered by such Registration
Statement are sold in accordance with the intended plan of distribution set forth in such Registration Statement or supplement
to the Prospectus and either (i) any underwriter overallotment option has terminated by its terms or (ii) the underwriters have
advised the Company that they will not exercise such option or any remaining portion thereof;

 

3.1.3 furnish
without charge to the Underwriters, if any, and each Holder of Registrable Securities included in such Registration, or such Holders’
legal counsel, copies of the Prospectus included in such Registration Statement (including each preliminary Prospectus), and each
amendment and supplement thereto (in each case including all exhibits thereto and documents incorporated by reference therein),
and such other documents as the Underwriters and each Holder of Registrable Securities included in such Registration or the legal
counsel for any such Holders may reasonably request in order to facilitate the disposition of the Registrable Securities owned
by such Holders;

 

3.1.4 prior
to any public offering of Registrable Securities, use its best efforts to (i) register or qualify the Registrable Securities covered
by the Registration Statement under such securities or “blue sky” laws of such jurisdictions in the United States as
any Holder of Registrable Securities included in such Registration Statement (in light of their intended plan of distribution)
may reasonably request and (ii) take such action necessary to cause such Registrable Securities covered by the Registration Statement
to be registered with or approved by such other governmental authorities as may be necessary by virtue of the business and operations
of the Company and do any and all other acts and things that may be reasonably necessary or advisable to enable the Holders of
Registrable Securities included in such Registration Statement to consummate the disposition of such Registrable Securities in
such jurisdictions; provided, however, that the Company shall not be required to qualify generally to do business in any jurisdiction
where it would not otherwise be required to qualify or take any action to which it would be subject to general service of process
or taxation in any such jurisdiction where it is not then otherwise so subject;

 

3.1.5 use commercially
reasonable efforts to cause all such Registrable Securities to be listed on each securities exchange or automated quotation system
on which similar securities issued by the Company are then listed;

 

3.1.6 provide
a transfer agent or warrant agent, as applicable, and registrar for all such Registrable Securities no later than the effective
date of such Registration Statement;

 

3.1.7 advise
each seller of such Registrable Securities, promptly after it shall receive notice or obtain knowledge thereof, of the issuance
of any stop order by the Commission suspending the effectiveness of such Registration Statement or the initiation or threatening
of any proceeding for such purpose and promptly use its commercially reasonable best efforts to prevent the issuance of any stop
order or to obtain its withdrawal if such stop order should be issued;

 

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 3.1.8 at
least five (5) days prior to the filing of any Registration Statement or Prospectus or any amendment or supplement to such Registration
Statement or Prospectus or any document that is to be incorporated by reference into such Registration Statement or Prospectus,
furnish a copy thereof to each seller of such Registrable Securities and its counsel, including, without limitation, providing
copies promptly upon receipt of any comment letters received with respect to any such Registration Statement or Prospectus. The
Company shall not include the name of any Holder or any information regarding any Holder in any Registration Statement or Prospectus,
any amendment or supplement to such Registration Statement or Prospectus, any document that is to be incorporated by reference
into such Registration Statement or Prospectus, or any response to any comment letter, without the prior written consent of such
Holder and providing each such Holder or its counsel a reasonable amount of time to review and comment on such applicable document,
which comments the Company shall include unless contrary to applicable law;

 

3.1.9 in the
event of an Underwritten Offering, permit the participating Holders to rely on any “cold comfort” letter from the Company’s
independent registered public accountants provided to the managing Underwriter of such offering;

 

3.1.10 in the
event of an Underwritten Offering, permit the participating Holders to rely on any opinion(s) of counsel representing the Company
for the purposes of such Registration issued to the managing Underwriter of such offering covering legal matters with respect to
the Registration;

 

3.1.11 in the
event of any Underwritten Offering, enter into and perform its obligations under an underwriting agreement, in usual and customary
form, with the managing Underwriter of such offering;

 

3.1.12 make
available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve
(12) months beginning with the first day of the Company’s first full calendar quarter after the effective date of the Registration
Statement which satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder, and which requirement
will be deemed to be satisfied if the Company timely files complete and accurate information on Forms 10-Q, 10-K and 8-K under
the Exchange Act and otherwise complies with Rule 158 under the Securities Act;

 

3.1.13 if the
Registration involves the Registration of Registrable Securities involving gross proceeds in excess of $30,000,000, use its reasonable
efforts to make available senior executives of the Company to participate in customary “road show” presentations that
may be reasonably requested by the Underwriter in any Underwritten Offering; and

 

3.1.14 otherwise,
in good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by the Holders, in connection
with such Registration.

 

3.2 Registration
Expenses. The Registration Expenses of all Registrations shall be borne by the Company. It is acknowledged by the Holders that
the Holders shall bear all incremental selling expenses relating to the sale of Registrable Securities, such as Underwriters’
commissions and discounts, brokerage fees, Underwriter marketing costs and fees and expenses of legal counsel representing the
Holders in excess or in addition to the legal fees and expenses included as Registration Expenses.

 

3.3 Requirements
for Participation in Underwritten Offerings. No person may participate in any Underwritten Offering for equity securities of
the Company pursuant to a Registration initiated by the Company hereunder unless such person (i) agrees to sell such person’s
securities on the basis provided in any underwriting arrangements approved by the Company and (ii) completes and executes all customary
questionnaires, powers of attorney, indemnities, lock-up agreements, underwriting agreements and other customary documents as may
be reasonably required under the terms of such underwriting arrangements.

 

    11

     

    

 

 3.4 Suspension
of Sales; Adverse Disclosure. Upon receipt of written notice from the Company that a Registration Statement or Prospectus
contains a Misstatement, each of the Holders shall forthwith discontinue disposition of Registrable Securities until he, she or
it is advised in writing by the Company that the use of the Prospectus may be resumed and he, she or it has received copies of
a supplemented or amended Prospectus correcting the Misstatement (it being understood that the Company hereby covenants to prepare
and file such supplement or amendment as soon as reasonably practicable after the time of such notice) and, if so directed by
the Company, each Holder shall deliver to the Company (at the Company’s expense) all copies, other than permanent file copies
then in such Holder’s possession, of the Prospectus covering such Registrable Securities at the time of receipt of such
notice. If the continued use of a Registration Statement in respect of any Registration at any time would require the Company
to make an Adverse Disclosure, or would require the inclusion in such Registration Statement of (i) financial statements that
are unavailable to the Company for reasons beyond the Company’s control, (ii) audited financial statements as of a date
other than the Company’s fiscal year end (unless the Holders requesting Registration agree to pay the reasonable expenses
of this audit), or (iii) pro forma financial statements that are required to be included in a registration statement, the Company
may, upon giving prompt written notice of such action to the Holders, delay the filing or initial effectiveness of, or suspend
the use of, such Registration Statement for no more than 180 days. In the event the Company exercises its rights under the preceding
sentence, the Holders agree to suspend, immediately upon their receipt of the notice referred to above, their use of the Prospectus
relating to any Registration in connection with any sale or offer to sell Registrable Securities. The Company shall immediately
notify the Holders of the expiration of any period during which it exercised its rights under this Section 3.4.

 

3.5 Reporting
Obligations. As long as any Holder shall own Registrable Securities, the Company, at all times while it shall be reporting
under the Exchange Act, covenants to use reasonable best efforts to file timely (or obtain extensions in respect thereof and file
within the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to Sections
13(a) or 15(d) of the Exchange Act and to promptly upon request by a Holder furnish such Holder with true and complete copies of
such filings. The Company further covenants that it shall take such further action as any Holder may reasonably request, all to
the extent required from time to time to enable such Holder to sell shares of Common Stock held by such Holder without registration
under the Securities Act within the limitation of the exemptions provided by Rule 144 promulgated under the Securities Act, including
providing any legal opinions. Upon the request of any Holder, the Company shall deliver to such Holder a written certification
of a duly authorized officer as to whether it has complied with such requirements.

 

3.6 Limitations
on Registration Rights. Notwithstanding anything herein to the contrary, (i) Cantor may not exercise its rights under Section
2.1 and 2.2 hereunder after five (5) and seven (7) years, respectively, after the effective date of the registration statement
relating to the Company’s IPO and (ii) Cantor may not exercise its rights under Section 2.1 more than one time.

 

ARTICLE IV

INDEMNIFICATION AND CONTRIBUTION

 

4.1 Indemnification.

 

4.1.1 The Company
agrees to indemnify, to the extent permitted by law, each Holder of Registrable Securities, its officers and directors and each
person who controls such Holder (within the meaning of the Securities Act) against all losses, claims, damages, liabilities and
expenses (including reasonable attorneys’ fees) caused by any untrue or alleged untrue statement of material fact contained
in any Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission
or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading,
except insofar as the same are caused by or contained in any information furnished in writing to the Company by such Holder expressly
for use therein.

 

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4.1.2 In connection
with any Registration Statement in which a Holder of Registrable Securities is participating, such Holder shall furnish to the
Company in writing such information and affidavits as the Company reasonably requests for use in connection with any such Registration
Statement or Prospectus and, to the extent permitted by law, shall indemnify the Company, its directors and officers and agents
and each person who controls the Company (within the meaning of the Securities Act) against any losses, claims, damages, liabilities
and expenses (including, without limitation, reasonable attorneys’ fees) resulting from any untrue or alleged untrue statement
of material fact contained in the Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement
thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements
therein not misleading, but only to the extent that such untrue or alleged untrue statement or omission is contained in any information
or affidavit so furnished in writing by such Holder expressly for use therein; provided, however, that the obligation to indemnify
shall be several, not joint and several, among such Holders of Registrable Securities, and the liability of each such Holder of
Registrable Securities shall be in proportion to and limited to the net proceeds received by such Holder from the sale of Registrable
Securities pursuant to such Registration Statement. The Holders of Registrable Securities shall indemnify the Underwriters, their
officers, directors and each person who controls such Underwriters (within the meaning of the Securities Act) to the same extent
as provided in the foregoing with respect to indemnification of the Company.

 

4.1.3 Any person
entitled to indemnification herein shall (i) give prompt written notice to the indemnifying party of any claim with respect to
which it seeks indemnification (provided that the failure to give prompt notice shall not impair any person’s right to indemnification
hereunder to the extent such failure has not materially prejudiced the indemnifying party) and (ii) unless in such indemnified
party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect
to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified
party. If such defense is assumed, the indemnifying party shall not be subject to any liability for any settlement made by the
indemnified party without its consent (but such consent shall not be unreasonably withheld). An indemnifying party who is not entitled
to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more than one counsel
(plus local counsel) for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable
judgment of any indemnified party a conflict of interest may exist between such indemnified party and any other of such indemnified
parties with respect to such claim. No indemnifying party shall, without the consent of the indemnified party, consent to the entry
of any judgment or enter into any settlement which cannot be settled in all respects by the payment of money (and such money is
so paid by the indemnifying party pursuant to the terms of such settlement) or which settlement does not include as an unconditional
term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such
claim or litigation.

 

4.1.4 The indemnification
provided for under this Agreement shall remain in full force and effect regardless of any investigation made by or on behalf of
the indemnified party or any officer, director or controlling person of such indemnified party and shall survive the transfer of
securities. The Company and each Holder of Registrable Securities participating in an offering also agrees to make such provisions
as are reasonably requested by any indemnified party for contribution to such party in the event the Company’s or such Holder’s
indemnification is unavailable for any reason.

 

4.1.5 If the
indemnification provided under Section 4.1 hereof from the indemnifying party is unavailable or insufficient to hold harmless an
indemnified party in respect of any losses, claims, damages, liabilities and expenses referred to herein, then the indemnifying
party, in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by the indemnified party as
a result of such losses, claims, damages, liabilities and expenses in such proportion as is appropriate to reflect the relative
fault of the indemnifying party and the indemnified party, as well as any other relevant equitable considerations. The relative
fault of the indemnifying party and indemnified party shall be determined by reference to, among other things, whether any action
in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material
fact, was made by, or relates to information supplied by, such indemnifying party or indemnified party, and the indemnifying party’s
and indemnified party’s relative intent, knowledge, access to information and opportunity to correct or prevent such action;
provided, however, that the liability of any Holder under this subsection 4.1.5 shall be limited to the amount of the net proceeds
received by such Holder in such offering giving rise to such liability. The amount paid or payable by a party as a result of the
losses or other liabilities referred to above shall be deemed to include, subject to the limitations set forth in subsections 4.1.1,
4.1.2 and 4.1.3 above, any legal or other fees, charges or expenses reasonably incurred by such party in connection with any investigation
or proceeding. The parties hereto agree that it would not be just and equitable if contribution pursuant to this subsection 4.1.5
were determined by pro rata allocation or by any other method of allocation, which does not take account of the equitable considerations
referred to in this subsection 4.1.5. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Securities Act) shall be entitled to contribution pursuant to this subsection 4.1.5 from any person who was not guilty of such
fraudulent misrepresentation.

 

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ARTICLE V

 MISCELLANEOUS

 

5.1 Notices.
Any notice or communication under this Agreement must be in writing and given by (i) deposit in the United States mail, addressed
to the party to be notified, postage prepaid and registered or certified with return receipt requested, (ii) delivery in person
or by courier service providing evidence of delivery, or (iii) transmission by hand delivery, electronic mail or facsimile. Each
notice or communication that is mailed, delivered, or transmitted in the manner described above shall be deemed sufficiently given,
served, sent, and received, in the case of mailed notices, on the third business day following the date on which it is mailed and,
in the case of notices delivered by courier service, hand delivery, electronic mail or facsimile, at such time as it is delivered
to the addressee (with the delivery receipt of the intended recipient or the affidavit of messenger) or at such time as delivery
is refused by the addressee upon presentation. Any notice or communication under this Agreement must be addressed to

 

the Company
at:

 

INSU Acquisition Corp. II

2929 Arch Street, Suite 1703

Philadelphia, PA 19104-2870

Attention: Joseph W. Pooler, Jr.

Email: jpooler@cohenandcompany.com

 

with a copy to:

 

Ledgewood P.C.

Two Commerce Square, Suite 3400

2001 Market Street

Philadelphia, PA 19103

Attention: Derick S. Kauffman

Email: dkauffman@ledgewood.com

 

and to the Holders, at such Holder’s address
referenced in Schedule A.

 

Any party may change its address for notice
at any time and from time to time by written notice to the other parties hereto, and such change of address shall become effective
thirty (30) days after delivery of such notice as provided in this Section 5.1.

 

5.2 Assignment; No Third Party Beneficiaries.

 

5.2.1 This Agreement
and the rights, duties and obligations of the Company hereunder may not be assigned or delegated by the Company in whole or in
part. Prior to the expiration of the Founder Lock-up Period or Placement Unit Lock-up Period, as the case may be, no Holder may
assign or delegate his, her or its rights, duties or obligations under this Agreement in whole or in part. Notwithstanding the
above, as it applies to the Registrable Securities, the Holder may transfer such securities during the respective lock-up period
to any Permitted Transferee (as such term is defined in that certain Warrant Agreement between the Company and Continental Stock
Transfer & Trust Company) but only if such Permitted Transferee agrees to become bound by the transfer restrictions set forth
in this Agreement, the Letter Agreement and, if applicable, the Placement Unit Subscription Agreements.

 

5.2.2 Except
as set forth in subsection 5.2.1 hereof, this Agreement and the rights, duties and obligations of the Holders of Registrable Securities
hereunder may be assigned or delegated by such Holder of Registrable Securities in conjunction with and to the extent of any transfer
of Registrable Securities by any such Holder.

 

    14

     

    

 

5.2.3 This Agreement
and the provisions hereof shall be binding upon and shall inure to the benefit of each of the Holders, the permitted assigns and
its successors and the permitted assigns of the Holders.

 

5.2.4 This Agreement
shall not confer any rights or benefits on any persons that are not parties hereto, other than as expressly set forth in this Agreement
and Section 5.2 hereof.

 

5.2.5 No assignment
by any party hereto of such party’s rights, duties and obligations hereunder shall be binding upon or obligate the Company
unless and until the Company shall have received (i) written notice of such assignment as provided in Section 5.1 hereof and (ii)
the written agreement of the assignee, in a form reasonably satisfactory to the Company, to be bound by the terms and provisions
of this Agreement (which may be accomplished by an addendum or certificate of joinder to this Agreement). Any transfer or assignment
made other than as provided in this Section 5.2 shall be null and void.

 

5.3 Counterparts.
This Agreement may be executed in multiple counterparts (including facsimile or PDF counterparts), each of which shall be deemed
an original, and all of which together shall constitute the same instrument, but only one of which need be produced.

 

5.4 Governing
Law; Venue. THE PARTIES EXPRESSLY AGREE THAT THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS OF THE STATE
OF NEW YORK, WITHOUT REGARD TO THE CONFLICT OF LAW PROVISIONS OF SUCH JURISDICTION. Any legal suit, action or proceeding arising
out of or based upon this Agreement or the transactions contemplated hereby may be instituted in the federal courts of the United
States or the courts of the State of New York in each case located in the city of New York, and each party irrevocably submits
to the exclusive jurisdiction of such courts in any such suit, action or proceeding.

 

5.5 Amendments
and Modifications. Upon the written consent of the Company and the Holders of at least a majority in interest of the then outstanding
Registrable Securities, compliance with any of the provisions, covenants and conditions set forth in this Agreement may be waived,
or any of such provisions, covenants or conditions may be amended or modified; provided, however, that notwithstanding the foregoing,
any amendment hereto or waiver hereof that adversely affects one Holder, solely in its capacity as a holder of the shares of capital
stock of the Company, in a manner that is materially different from the other Holders (in such capacity) shall require the consent
of the Holder so affected. No course of dealing between any Holder or the Company and any other party hereto or any failure or
delay on the part of a Holder or the Company in exercising any rights or remedies under this Agreement shall operate as a waiver
of any rights or remedies of any Holder or the Company. No single or partial exercise of any rights or remedies under this Agreement
by a party shall operate as a waiver or preclude the exercise of any other rights or remedies hereunder or thereunder by such party.

 

5.6 Other
Registration Rights. The Company represents and warrants that no person, other than a Holder of Registrable Securities and
holders of PIPE shares, has any right to require the Company to register any securities of the Company for sale or to include such
securities of the Company in any Registration filed by the Company for the sale of securities for its own account or for the account
of any other person.

 

5.7 Termination.
This Agreement shall terminate upon the earlier of (i) the fifth anniversary of the date hereof or (ii) the date as of which (A)
all of the Registrable Securities have either been sold pursuant to a Registration Statement or cease to be Registrable Securities
(but in no event prior to the applicable period referred to in Section 4(3) of the Securities Act and Rule 174 thereunder) or (B)
the Holders of all Registrable Securities are permitted to sell the Registrable Securities under Rule 144 (or any similar provision)
under the Securities Act without limitation on the amount of securities sold or the manner of sale. The provisions of Section 3.5
and Article IV shall survive any termination.

 

[SIGNATURE PAGES FOLLOW]

 

    15

     

    

 

IN WITNESS WHEREOF,
the undersigned have caused this Agreement to be executed as of the date first written above.

 

	 	COMPANY:
	 	 	 
	 	INSU ACQUISITION CORP. II
	 	a Delaware corporation
	 	 	 
	 	By:	 
	 	Name:  	John M. Butler
	 	Title:	Chief Executive Officer and President
	 	 	 
	 	HOLDERS:
	 	 	 
	 	INSURANCE ACQUISITION SPONSOR II, LLC
	 	a Delaware limited liability company
	 	 	 
	 	By:	 
	 	Name:	Daniel G. Cohen
	 	Title:	Chief Executive Officer
	 	 	 
	 	DIOPTRA ADVISORS II, LLC
	 	a Delaware limited liability company
	 	 	 
	 	By:	 
	 	Name:	Daniel G. Cohen
	 	Title:	Chief Executive Officer
	 	 	 
	 	INSU PIPE Sponsor II, LLC
	 	a Delaware limited liability company
	 	 	 
	 	By:	 
	 	Name:	Daniel G. Cohen
	 	Title:	Chief Executive Officer
	 	 	 
	 	CANTOR FITZGERALD & CO.
	 	a New York general partnership
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	 
	 	Daniel G. Cohen, individually
	 	 	 
	 	 
	 	John M. Butler, individually
	 	 	 
	 	 
	 	Joseph W. Pooler, Jr., individually

 

[Signature Page to Amended and Restated
Registration Rights Agreement]

 

    16

     

    

 

	 	 
	 	John C. Chrystal, individually
	 	 
	 	 
	 	Sheila Nicoll, individually
	 	 
	 	 
	 	Sasson Posner, individually
	 	 
	 	 
	 	Andrew Hohns, individually
	 	 
	 	[METROMILE STOCKHOLDERS TBD]

  

[Signature Page to Amended and Restated
Registration Rights Agreement]

 

    17

     

    

  

Schedule A

 

	Holder	 	Address
	Insurance Acquisition Sponsor II, LLC	 	2929 Arch Street, Suite 1703, Philadelphia, PA 19104
	Dioptra Advisors II, LLC	 	2929 Arch Street, Suite 1703, Philadelphia, PA 19104
	Daniel G. Cohen	 	3 Columbus Circle, 24th Floor, New York, NY 10019
	John M. Butler	 	2929 Arch Street, Suite 1703, Philadelphia, PA 19104
	Joseph W. Pooler, Jr.	 	2929 Arch Street, Suite 1703, Philadelphia, PA 19104
	John C. Chrystal	 	2929 Arch Street, Suite 1703, Philadelphia, PA 19104
	Sheila Nicoll	 	2929 Arch Street, Suite 1703, Philadelphia, PA 19104
	Sasson Posner	 	2929 Arch Street, Suite 1703, Philadelphia, PA 19104
	Andrew Hohns	 	2929 Arch Street, Suite 1703, Philadelphia, PA 19104
	Cantor Fitzgerald & Co.	 	499 Park Avenue, New York, NY 10022

 

  

18

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