Document:

EX-10.23

 Exhibit 10.23 

AMERICAN WELL CORPORATION 

2020 EMPLOYEE STOCK PURCHASE PLAN 

ARTICLE I. 
 PURPOSE

 The purposes of this American Well Corporation 2020 Employee Stock Purchase Plan (as it may be amended or restated from time to time,
the “Plan”) are to assist Eligible Employees of American Well Corporation, a Delaware corporation (the “Company”) and its Designated Subsidiaries in acquiring a stock ownership interest in the Company
and to help Eligible Employees provide for their future security and to encourage them to remain in the employment of the Company and its Designated Subsidiaries. The Plan has two components: (a) one component (the “423
Component”) is intended to qualify as an “employee stock purchase plan” within the meaning of Section 423(b) of the Code, and the Plan will be interpreted in a manner that is consistent with that intent, and
(b) the other component (the “Non-423 Component”), which is not intended to qualify as an “employee stock purchase plan” within the meaning of Section 423(b) of the
Code, authorizes the grant of rights to purchase Common Stock pursuant to rules, procedures or sub-plans adopted by the Administrator that are designed to achieve tax, securities laws or other objectives for
Eligible Employees. Except as otherwise provided herein, the Non-423 Component will operate and be administered in the same manner as the 423 Component. 

ARTICLE II. 

DEFINITIONS AND CONSTRUCTION 

Wherever the following terms are used in the Plan, they shall have the meanings specified below, unless the context clearly indicates
otherwise. The singular pronoun shall include the plural where the context so indicates. Masculine, feminine and neuter pronouns are used interchangeably and each comprehends the others. 

2.1     “Administrator” shall mean the entity that conducts the general administration of the Plan
as provided in Article XI. The term “Administrator” shall refer to the Committee (as defined below) unless the Board has assumed the authority for administration of the Plan as provided in Article XI. 

2.2     “Applicable Law” means any applicable law, including the requirements relating to the
administration of equity-based awards under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and the applicable laws of any foreign
country or jurisdiction where rights are, or will be, granted under the Plan. 
 2.3     “Board”
shall mean the Board of Directors of the Company. 
 2.4     “Code” shall mean the Internal
Revenue Code of 1986, as amended, and the regulations issued thereunder. 
 2.5     “Common
Stock” shall mean the Class A common stock of the Company, par value $0.01 per share. 
 2.6    
“Company” shall mean American Well Corporation, a Delaware corporation. 
 2.7    
“Compensation” of an Eligible Employee shall mean the gross base compensation received by such Eligible Employee as compensation for services to the Company or any Designated Subsidiary, including prior week adjustment and
overtime payments but excluding vacation pay, holiday pay, jury duty pay, funeral leave pay, military leave pay, commissions, incentive compensation, payments made under any bonus program, one-time bonuses
(e.g., retention or sign on bonuses), education or tuition reimbursements, travel expenses, business and moving reimbursements, income received in connection with any stock options, stock appreciation rights, restricted stock, restricted stock units
or other compensatory equity awards, fringe benefits, other special payments and all contributions made by the Company or any Designated Subsidiary for the Employee’s benefit under any employee benefit plan now or hereafter established. 

 2.8     “Designated Subsidiary” shall mean any
Subsidiary or affiliate of the Company designated by the Administrator in accordance with Section 11.3(b). For purposes of the 423 Component, only the Company’s Subsidiaries may be Designated Subsidiaries; provided, however,
that at any given time, a Subsidiary that is a Designated Subsidiary under the 423 Component will not be a Designated Subsidiary under the Non-423 Component. 

2.9     “Effective Date” shall mean January 1, 2021. 

2.10     “Eligible Employee” shall mean an Employee who does not, immediately after any rights
under the Plan are granted, own (directly or through attribution) stock possessing 5% or more of the total combined voting power or value of all classes of common stock of the Company and other stock of the Company, a Parent or a Subsidiary (as
determined under Section 423(b)(3) of the Code). For purposes of the foregoing sentence, the rules of Section 424(d) of the Code with regard to the attribution of stock ownership shall apply in determining the stock
ownership of an individual, and stock that an Employee may purchase under outstanding options shall be treated as stock owned by the Employee; provided, however, that the Administrator may provide in an Offering Document that an
Employee shall not be eligible to participate in an Offering Period if: (i) such Employee is a highly compensated employee within the meaning of Section 423(b)(4)(D) of the Code, (ii) such Employee has not met a service
requirement designated by the Administrator pursuant to Section 423(b)(4)(A) of the Code (which service requirement may not exceed two years), (iii) such Employee’s customary employment is for twenty hours or less per week,
(iv) such Employee’s customary employment is for less than five months in any calendar year and/or (v) such Employee is a citizen or resident of a foreign jurisdiction and the grant of a right to purchase Common Stock under the Plan
to such Employee would be prohibited under the laws of such foreign jurisdiction, as determined by the Administrator in its sole discretion; provided, further, that any exclusion in clauses (i), (ii), (iii), (iv) or (v) shall
be applied in an identical manner under each Offering Period to all Employees, in accordance with Treasury Regulation Section 1.423-2(e). 

2.11     “Employee” shall mean any officer or other employee (as defined in accordance with
Section 3401(c) of the Code) of the Company or any Designated Subsidiary. “Employee” shall not include any director of the Company or a Designated Subsidiary who does not render services to the Company or a Designated Subsidiary
as an employee within the meaning of Section 3401(c) of the Code. For purposes of the Plan, the employment relationship shall be treated as continuing intact while the individual is on sick leave or other leave of absence approved by the
Company or Designated Subsidiary and meeting the requirements of Treasury Regulation Section 1.421-1(h)(2). Where the period of leave exceeds three months and the individual’s right to reemployment
is not guaranteed either by statute or by contract, the employment relationship shall be deemed to have terminated on the first day immediately following such three-month period. 

2.12     “Enrollment Date” shall mean, with respect to an Offering Period, the first Trading Day
of such Offering Period. 
 2.13     “Exchange Act” shall mean the Securities Exchange Act of
1934, as amended from time to time. 
 2.14     “Fair Market Value” shall mean, as of any date,
the value of a Share determined as follows: (i) if the Common Stock is listed on any established stock exchange, national market system or quoted or traded on any automated quotation system, including without limitation the Nasdaq Global
Select Market, the Nasdaq Global Market or the Nasdaq Capital Market of The Nasdaq Stock Market, its Fair Market Value will be the closing sales price for a Share (or the closing bid, if no sales were reported) as quoted on such exchange or system
on the Trading Day immediately preceding the date of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; (ii) if the Common Stock is not listed on an established stock exchange,
national market system or automated quotation system, but the Common Stock is regularly quoted by a recognized securities dealer, the Fair Market Value of a Share will be the mean of the high bid and low asked prices for such date or, if no high
bids and low asks were reported on such date, the high bid and low asked prices for a Share on the last preceding date such bids and asks were reported, as reported in The Wall Street Journal or such other source as the Administrator deems
reliable; or (iii) in the absence of an established market for the Common Stock, the Fair Market Value will be determined in good faith by the Administrator. 

  
 2 

 2.15     “Offering Document” shall have the
meaning given to such term in Section 4.1. 
 2.16     “Offering Period” shall have the
meaning given to such term in Section 4.1. 
 2.17     “Parent” shall mean any corporation,
other than the Company, in an unbroken chain of corporations ending with the Company if, at the time of the determination, each of the corporations other than the Company owns stock possessing 50% or more of the total combined voting power of all
classes of stock in one of the other corporations in such chain. 
 2.18     “Participant” shall
mean any Eligible Employee who has executed a subscription agreement and been granted rights to purchase Common Stock pursuant to the Plan. 

2.19     “Person” shall mean any “person” or related “group” of
“persons” (as such terms are used in Sections 13(d) and 14(d)(2) of the Exchange Act). 
 2.20    
“Plan” shall mean this American Well Corporation 2020 Employee Stock Purchase Plan, as it may be amended from time to time. 

2.21     “Purchase Date” shall mean the last Trading Day of each Purchase Period. 

2.22     “Purchase Period” shall refer to one or more periods within an Offering Period, as
designated in the applicable Offering Document; provided, however, that, in the event no purchase period is designated by the Administrator in the applicable Offering Document, the purchase period for each Offering Period covered by
such Offering Document shall be the same as the applicable Offering Period. 
 2.23     “Purchase
Price” shall mean the purchase price designated by the Administrator in the applicable Offering Document (which purchase price shall not be less than 85% of the Fair Market Value of a Share on the Enrollment Date or on the Purchase
Date, whichever is lower); provided, however, that, in the event no purchase price is designated by the Administrator in the applicable Offering Document, the purchase price for the Offering Periods covered by such Offering Document
shall be 85% of the Fair Market Value of a Share on the Enrollment Date or on the Purchase Date, whichever is lower; provided, further, that the Purchase Price may be adjusted by the Administrator pursuant to Article VIII and
shall not be less than the par value of a Share. 
 2.24     “Securities Act” shall mean the
Securities Act of 1933, as amended. 
 2.25     “Share” shall mean a share of Class A
Common Stock. 
 2.26     “Subsidiary” shall mean any corporation, other than the Company, in an
unbroken chain of corporations beginning with the Company if, at the time of the determination, each of the corporations other than the last corporation in an unbroken chain owns stock possessing 50% or more of the total combined voting power of all
classes of stock in one of the other corporations in such chain; provided, however, that a limited liability company or partnership may be treated as a Subsidiary to the extent either (a) such entity is treated as a disregarded entity
under Treasury Regulation Section 301.7701-3(a) by reason of the Company or any other Subsidiary that is a corporation being the sole owner of such entity, or (b) such entity elects to be
classified as a corporation under Treasury Regulation Section 301.7701-3(a) and such entity would otherwise qualify as a Subsidiary. 

2.27     “Trading Day” shall mean a day on which national stock exchanges in the United States are
open for trading. 

  
 3 

 ARTICLE III. 

SHARES SUBJECT TO THE PLAN 

3.1     Number of Shares. Subject to Article VIII, the aggregate number of Shares that may be issued pursuant
to rights granted under the Plan shall be 2% of the number of Shares outstanding as of the date on which the registration statement covering the initial public offering of the Shares is declared effective by the Securities and Exchange Commission
(the “IPO Date”). In addition to the foregoing, subject to Article VIII, on the first day of each calendar year beginning on January 1, 2021 and ending on and including January 1, 2029, the number of Shares available for
issuance under the Plan shall be increased by that number of Shares equal to the least of (a) 1% of the number of Shares outstanding as of the IPO Date (subject to any adjustment pursuant to Article VIII), (b) 1% of the outstanding
shares of all classes of the Company’s common stock on the final day of the immediately preceding calendar year or (c) such smaller number of Shares as determined by the Board. If any right granted under the Plan shall for any reason
terminate without having been exercised, the Common Stock not purchased under such right shall again become available for issuance under the Plan. 

3.2     Stock Distributed. Any Common Stock distributed pursuant to the Plan may consist, in whole or in part, of
authorized and unissued Common Stock, treasury stock or Common Stock purchased on the open market. 
 ARTICLE IV. 

OFFERING PERIODS; OFFERING DOCUMENTS; PURCHASE DATES 

4.1     Offering Periods. The Administrator may, from time to time, grant or provide for the grant of rights to
purchase Common Stock under the 423 Component or the Non-423 Component of the Plan to Eligible Employees during one or more periods (each, an “Offering Period”) selected by the
Administrator. The terms and conditions applicable to each Offering Period shall be set forth in an “Offering Document” adopted by the Administrator, which Offering Document shall be in such form and shall contain such terms
and conditions as the Administrator shall deem appropriate and shall be incorporated by reference into and made part of the Plan and shall be attached hereto as part of the Plan. The provisions of separate Offering Periods under the Plan need not be
identical. 
 4.2     Offering Documents. Each Offering Document with respect to an Offering Period shall specify
(through incorporation of the provisions of the Plan by reference or otherwise): 
 (a)     the length of the Offering
Period, which period shall not exceed twenty-seven months; 
 (b)     the maximum number of Shares that may be purchased
by any Eligible Employee during such Offering Period; and 
 (c)     such other provisions as the Administrator
determines are appropriate, subject to the Plan. 
 ARTICLE V. 

ELIGIBILITY AND PARTICIPATION 

5.1     Eligibility. Any Eligible Employee who shall be employed by the Company or a Designated Subsidiary on a
given Enrollment Date for an Offering Period shall be eligible to participate in the Plan during such Offering Period, subject to the requirements of this Article V and the limitations imposed by Section 423(b) of the Code. 

5.2     Enrollment in Plan. 

(a)     Except as otherwise set forth in an Offering Document or determined by the Administrator, an Eligible Employee may
become a Participant in the Plan for an Offering Period by delivering a subscription agreement to the Company by such time prior to the Enrollment Date for such Offering Period (or such other date specified in the Offering Document) designated by
the Administrator and in such form (which may be electronic) as the Company provides. 

  
 4 

 (b)     Each subscription agreement shall designate a whole percentage
of such Eligible Employee’s Compensation to be withheld by the Company or the Designated Subsidiary employing such Eligible Employee on each payday during the Offering Period as payroll deductions under the Plan. The designated percentage may
not be less than 1% and may not be more than the maximum percentage specified by the Administrator in the applicable Offering Document (which percentage shall be 15% in the absence of any such designation) as payroll deductions. The payroll
deductions made for each Participant shall be credited to an account for such Participant under the Plan and shall be deposited with the general funds of the Company. 

(c)     A Participant may decrease the percentage of Compensation designated in his or her subscription agreement, subject
to the limits of this Section 5.2, or may suspend his or her payroll deductions, at any time during an Offering Period; provided, however, that the Administrator may limit the number of changes a Participant may make to his or her
payroll deduction elections during each Offering Period in the applicable Offering Document (and in the absence of any specific designation by the Administrator, a Participant shall be allowed one decrease (and no increases) to his or her payroll
deduction elections during each Offering Period). Any such change or suspension of payroll deductions shall be effective with the first full payroll period following five business days after the Company’s receipt of the new subscription
agreement (or such shorter or longer period as may be specified by the Administrator in the applicable Offering Document). In the event a Participant suspends his or her payroll deductions, such Participant’s cumulative payroll deductions
prior to the suspension shall remain in his or her account and shall be applied to the purchase of Shares on the next occurring Purchase Date and shall not be paid to such Participant unless he or she withdraws from participation in the Plan
pursuant to Article VII. 
 (d)     Except as otherwise set forth in an Offering Document or determined by the
Administrator, a Participant may participate in the Plan only by means of payroll deduction and may not make contributions by lump sum payment for any Offering Period. 

5.3     Payroll Deductions. Except as otherwise provided in the applicable Offering Document, payroll deductions
for a Participant shall commence on the first payroll following the Enrollment Date and shall end on the last payroll in the Offering Period to which the Participant’s authorization is applicable, unless sooner terminated by the Participant as
provided in Article VII or suspended by the Participant or the Administrator as provided in Section 5.2 and Section 5.6, respectively. 

5.4     Effect of Enrollment. A Participant’s completion of a subscription agreement will enroll such
Participant in the Plan for each subsequent Offering Period on the terms contained therein until the Participant either submits a new subscription agreement, withdraws from participation under the Plan as provided in Article VII or otherwise
becomes ineligible to participate in the Plan. 
 5.5     Limitation on Purchase of Common Stock. An Eligible
Employee may not be granted rights under the 423 Component of the Plan if such rights, together with any other rights granted to such Eligible Employee under “employee stock purchase plans” of the Company, any Parent or any Subsidiary, as
specified by Section 423(b)(8) of the Code, permit such employee’s rights to purchase stock of the Company or any Parent or Subsidiary to accrue at a rate that exceeds $25,000 of the fair market value of such stock (determined as of
the first day of the Offering Period during which such rights are granted) for each calendar year in which such rights are outstanding at any time. This limitation shall be applied in accordance with Section 423(b)(8) of the Code. 

5.6     Decrease or Suspension of Payroll Deductions. Notwithstanding the foregoing, to the extent necessary to
comply with Section 423(b)(8) of the Code and Section 5.5 or the other limitations set forth in the Plan, a Participant’s payroll deductions may be suspended by the Administrator at any time during an Offering Period. The balance
of the amount credited to the account of each Participant that has not been applied to the purchase of Shares by reason of Section 423(b)(8) of the Code, Section 5.5 or the other limitations set forth in the Plan shall be paid to such
Participant in one lump sum in cash as soon as reasonably practicable after the Purchase Date. 
 5.7     Foreign
Employees. In order to facilitate participation in the Plan, the Administrator may provide for such special terms applicable to Participants who are citizens or residents of a foreign jurisdiction, or who are employed by a Designated Subsidiary
outside of the United States, as the Administrator may consider necessary or 

  
 5 

 
appropriate to accommodate differences in local law, tax policy or custom, including through participation in an Offering Period under the Non-423
Component of the Plan. Except as otherwise provided herein, such special terms may not be more favorable than the terms of rights granted under the 423 Component of the Plan to Eligible Employees who are residents of the United States. Moreover, the
Administrator may approve such supplements to, or amendments, restatements or alternative versions of, the Plan as it may consider necessary or appropriate for such purposes without thereby affecting the terms of the Plan as in effect for any other
purpose. No such special terms, supplements, amendments or restatements shall include any provisions that are inconsistent with the terms of the Plan as then in effect unless the Plan could have been amended to eliminate such inconsistency without
further approval by the stockholders of the Company. 
 5.8     Leave of Absence. During leaves of absence
approved by the Company meeting the requirements of Treasury Regulation Section 1.421-1(h)(2) under the Code, a Participant may continue participation in the Plan by making cash payments to the
Company on his or her normal payday equal to his or her authorized payroll deduction. 
 ARTICLE VI. 

GRANT AND EXERCISE OF RIGHTS 

6.1     Grant of Rights. On the Enrollment Date of each Offering Period, each Eligible Employee participating in
such Offering Period shall be granted a right to purchase the maximum number of Shares specified in the Offering Documents under Section 4.2, subject to the limits in Section 5.5, and shall have the right to buy, on each Purchase Date
during such Offering Period (at the applicable Purchase Price), such number of whole Shares as is determined by dividing (a) such Participant’s payroll deductions accumulated prior to such Purchase Date and retained in the
Participant’s account as of the Purchase Date, by (b) the applicable Purchase Price (rounded down to the nearest Share). The right shall expire on the earliest of: (x) the last Purchase Date of the Offering Period, (y) the last
day of the Offering Period and (z) the date on which the Participant withdraws in accordance with Section 7.1 or Section 7.3. 

6.2     Exercise of Rights. On each Purchase Date, each Participant’s accumulated payroll deductions and any
other additional payments specifically provided for in the applicable Offering Document will be applied to the purchase of whole Shares, up to the maximum number of Shares permitted pursuant to the terms of the Plan and the applicable Offering
Document, at the Purchase Price. No fractional Shares shall be issued upon the exercise of rights granted under the Plan, unless the Offering Document specifically provides otherwise. Any cash in lieu of fractional Shares remaining after the
purchase of whole Shares upon exercise of a purchase right will be credited to a Participant’s account and carried forward and applied toward the purchase of whole Shares for the next following Offering Period. Shares issued pursuant to the
Plan may be evidenced in such manner as the Administrator may determine and may be issued in certificated form or issued pursuant to book-entry procedures. 

6.3     Pro Rata Allocation of Shares. If the Administrator determines that, on a given Purchase Date, the number
of Shares with respect to which rights are to be exercised may exceed (a) the number of Shares that were available for issuance under the Plan on the Enrollment Date of the applicable Offering Period, or (b) the number of Shares available
for issuance under the Plan on such Purchase Date, the Administrator may in its sole discretion provide that the Company shall make a pro rata allocation of the Shares available for purchase on such Enrollment Date or Purchase Date, as applicable,
in as uniform a manner as shall be practicable and as it shall determine in its sole discretion to be equitable among all Participants for whom rights to purchase Common Stock are to be exercised pursuant to this Article VI on such Purchase
Date, and shall either (i) continue all Offering Periods then in effect, or (ii) terminate any or all Offering Periods then in effect pursuant to Article IX. The Company may make pro rata allocation of the Shares available on the
Enrollment Date of any applicable Offering Period pursuant to the preceding sentence, notwithstanding any authorization of additional Shares for issuance under the Plan by the Company’s stockholders subsequent to such Enrollment Date. The
balance of the amount credited to the account of each Participant that has not been applied to the purchase of Shares shall be paid to such Participant in one lump sum in cash as soon as reasonably practicable after the Purchase Date. 

  
 6 

 6.4     Withholding. At the time a Participant’s rights
under the Plan are exercised, in whole or in part, or at the time some or all of the Common Stock issued under the Plan is disposed of, the Participant must make adequate provision for the Company’s federal, state, or other tax withholding
obligations, if any, that arise upon the exercise of the right or the disposition of the Common Stock. At any time, the Company may, but shall not be obligated to, withhold from the Participant’s compensation the amount necessary for the
Company to meet applicable withholding obligations. 
 6.5     Conditions to Issuance of Common Stock. The
Company shall not be required to issue or deliver any certificate or certificates for, or make any book entries evidencing, Shares purchased upon the exercise of rights under the Plan prior to fulfillment of all of the following conditions: 

(a)     The admission of such Shares to listing on all stock exchanges, if any, on which the Common Stock is then listed;

 (b)     The completion of any registration or other qualification of such Shares under any state or federal law or
under the rulings or regulations of the Securities and Exchange Commission or any other governmental regulatory body that the Administrator shall, in its absolute discretion, deem necessary or advisable; 

(c)     The obtaining of any approval or other clearance from any state or federal governmental agency that the
Administrator shall, in its absolute discretion, determine to be necessary or advisable; 
 (d)     The payment to the
Company of all amounts that it is required to withhold under federal, state or local law upon exercise of the rights, if any; and 

(e)     The lapse of such reasonable period of time following the exercise of the rights as the Administrator may from
time to time establish for reasons of administrative convenience. 
 ARTICLE VII. 

WITHDRAWAL; CESSATION OF ELIGIBILITY 

7.1     Withdrawal. A Participant may withdraw all but not less than all of the payroll deductions credited to his
or her account and not yet used to exercise his or her rights under the Plan at any time by giving written notice to the Company in a form acceptable to the Company no later than one week prior to the end of the Offering Period. All of the
Participant’s payroll deductions credited to his or her account during an Offering Period shall be paid to such Participant as soon as reasonably practicable after receipt of notice of withdrawal, such Participant’s rights for the Offering
Period shall be automatically terminated, and no further payroll deductions for the purchase of Shares shall be made for such Offering Period. If a Participant withdraws from an Offering Period, payroll deductions shall not resume at the beginning
of the next Offering Period unless the Participant timely delivers to the Company a new subscription agreement. 

7.2     Future Participation. A Participant’s withdrawal from an Offering Period shall not have any effect
upon his or her eligibility to participate in any similar plan that may hereafter be adopted by the Company or a Designated Subsidiary or in subsequent Offering Periods that commence after the termination of the Offering Period from which the
Participant withdraws. 
 7.3     Cessation of Eligibility. Upon a Participant’s ceasing to be an Eligible
Employee for any reason, he or she shall be deemed to have elected to withdraw from the Plan pursuant to this Article VII and the payroll deductions credited to such Participant’s account during the Offering Period shall be paid to such
Participant or, in the case of his or her death, to the Person or Persons entitled thereto under Section 12.4, as soon as reasonably practicable, and such Participant’s rights for the Offering Period shall be automatically terminated. 

7.4    Transfer of Employment. If a Participant transfers from an Offering Period under the 423 Component to an
Offering Period under the Non-423 Component, the exercise of the Participant’s right to purchase Common Stock will be qualified under the 423 Component only to the extent that such exercise complies with

  
 7 

 
Section 423 of the Code. If a Participant transfers from an Offering Period under the Non-423 Component to an Offering Period under the 423 Component,
the exercise of the Participant’s rights will remain non-qualified under the Non-423 Component. 

ARTICLE VIII. 

ADJUSTMENTS UPON CHANGES IN STOCK 

8.1     Changes in Capitalization. Subject to Section 8.3, in the event that the Administrator determines that
any dividend or other distribution (whether in the form of cash, Common Stock, other securities, or other property), reorganization, merger, amalgamation, consolidation, combination, repurchase, recapitalization, liquidation, dissolution, or sale,
transfer, exchange or other disposition of all or substantially all of the assets of the Company, or sale or exchange of Common Stock or other securities of the Company, issuance of warrants or other rights to purchase Common Stock or other
securities of the Company, or other similar corporate transaction or event, as determined by the Administrator, affects the Common Stock such that an adjustment is determined by the Administrator to be appropriate in order to prevent dilution or
enlargement of the benefits or potential benefits intended by the Company to be made available under the Plan or with respect to any outstanding purchase rights under the Plan, the Administrator shall make equitable adjustments, if any, to reflect
such change with respect to (a) the aggregate number and type of Shares (or other securities or property) that may be issued under the Plan (including, but not limited to, adjustments of the limitations in Section 3.1 and the limitations
established in each Offering Document pursuant to Section 4.2 on the maximum number of Shares that may be purchased); (b) the class(es) and number of Shares and price per Share subject to outstanding rights; and (c) the Purchase Price
with respect to any outstanding rights. 
 8.2     Other Adjustments. Subject to Section 8.3, in the event
of any transaction or event described in Section 8.1 or any unusual or nonrecurring transactions or events affecting the Company, any affiliate of the Company, or the financial statements of the Company or any affiliate, or of changes in
Applicable Law or accounting principles, the Administrator, in its discretion, and on such terms and conditions as it deems appropriate, is hereby authorized to take any one or more of the following actions whenever the Administrator determines that
such action is appropriate in order to prevent the dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan or with respect to any right under the Plan, to facilitate such transactions or events or
to give effect to such changes in laws, regulations or principles: 
 (a)     To provide for either (i) termination
of any outstanding right in exchange for an amount of cash, if any, equal to the amount that would have been obtained upon the exercise of such right had such right been currently exercisable or (ii) the replacement of such outstanding right
with other rights or property selected by the Administrator in its sole discretion; 
 (b)     To provide that the
outstanding rights under the Plan shall be assumed by the successor or survivor corporation, or a parent or subsidiary thereof, or shall be substituted for by similar rights covering the stock of the successor or survivor corporation, or a parent or
subsidiary thereof, with appropriate adjustments as to the number and kind of shares and prices; 
 (c)     To make
adjustments in the number and type of Shares (or other securities or property) subject to outstanding rights under the Plan and/or in the terms and conditions of outstanding rights and rights that may be granted in the future; 

(d)     To provide that Participants’ accumulated payroll deductions may be used to purchase Common Stock prior to
the next occurring Purchase Date on such date as the Administrator determines in its sole discretion and the Participants’ rights under the ongoing Offering Period(s) shall be terminated; and 

(e)     To provide that all outstanding rights shall terminate without being exercised. 

  
 8 

 8.3     No Adjustment Under Certain Circumstances. No adjustment
or action described in this Article VIII or in any other provision of the Plan shall be authorized to the extent that such adjustment or action would cause the 423 Component of the Plan to fail to satisfy the requirements of Section 423 of
the Code. 
 8.4     No Other Rights. Except as expressly provided in the Plan, no Participant shall have any
rights by reason of any subdivision or consolidation of shares of stock of any class, the payment of any dividend, any increase or decrease in the number of shares of stock of any class or any dissolution, liquidation, merger, or consolidation of
the Company or any other corporation. Except as expressly provided in the Plan or pursuant to action of the Administrator under the Plan, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of
any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number of Shares subject to outstanding rights under the Plan or the Purchase Price with respect to any outstanding rights. 

ARTICLE IX. 

AMENDMENT, MODIFICATION AND TERMINATION 

9.1     Amendment, Modification and Termination. The Administrator may amend, suspend or terminate the Plan at any
time and from time to time; provided, however, that approval of the Company’s stockholders shall be required to amend the Plan to: (a) increase the aggregate number, or change the type, of shares that may be sold
pursuant to rights under the Plan under Section 3.1 (other than an adjustment as provided by Article VIII); (b) change the corporations or classes of corporations whose employees may be granted rights under the Plan; or
(c) change the Plan in any manner that would cause the 423 Component of the Plan to no longer be an “employee stock purchase plan” within the meaning of Section 423(b) of the Code. 

9.2     Certain Changes to Plan. Without stockholder consent and without regard to whether any Participant rights
may be considered to have been adversely affected, to the extent permitted by Section 423 of the Code, the Administrator shall be entitled to change the Offering Periods, limit the frequency and/or number of changes in the amount withheld from
Compensation during an Offering Period, establish the exchange ratio applicable to amounts withheld in a currency other than U.S. dollars, permit payroll withholding in excess of the amount designated by a Participant in order to adjust for delays
or mistakes in the Company’s processing of payroll withholding elections, establish reasonable waiting and adjustment periods and/or accounting and crediting procedures to ensure that amounts applied toward the purchase of Common Stock for each
Participant properly correspond with amounts withheld from the Participant’s Compensation, and establish such other limitations or procedures as the Administrator determines in its sole discretion to be advisable that are consistent with the
Plan. 
 9.3     Actions in the Event of Unfavorable Financial Accounting Consequences. In the event the
Administrator determines that the ongoing operation of the Plan may result in unfavorable financial accounting consequences, the Administrator may, in its discretion and, to the extent necessary or desirable, modify or amend the Plan to reduce or
eliminate such accounting consequence including, but not limited to: 
 (a)     altering the Purchase Price for any
Offering Period including an Offering Period underway at the time of the change in Purchase Price; 
 (b)     shortening
any Offering Period so that the Offering Period ends on a new Purchase Date, including an Offering Period underway at the time of the Administrator action; and 

(c)     allocating Shares. 

Such modifications or amendments shall not require stockholder approval or the consent of any Participant. 

9.4     Payments Upon Termination of Plan. Upon termination of the Plan, the balance in each Participant’s
Plan account shall be refunded as soon as practicable after such termination, without any interest thereon. 

  
 9 

 ARTICLE X. 

TERM OF PLAN 
 The Plan
shall be effective on the Effective Date. No right may be granted under the Plan prior to stockholder approval of the Plan. No rights may be granted under the Plan during any period of suspension of the Plan or after termination of the Plan. 

ARTICLE XI. 

ADMINISTRATION 

11.1     Administrator. Unless otherwise determined by the Board, the Administrator of the Plan shall be the
Compensation Committee of the Board (or another committee or a subcommittee of the Board to which the Board delegates administration of the Plan) (such committee, the “Committee”). The Board may at any time vest in the Board
any authority or duties for administration of the Plan. 
 11.2     Action by the Administrator. Each member of
the Administrator is entitled to, in good faith, rely or act upon any report or other information furnished to that member by any officer or other Employee, the Company’s independent certified public accountants, or any executive compensation
consultant or other professional retained by the Company to assist in the administration of the Plan. 
 11.3    
Authority of Administrator. The Administrator shall have the power, subject to, and within the limitations of, the express provisions of the Plan: 

(a)     To determine when and how rights to purchase Common Stock shall be granted and the provisions of each offering of
such rights (which need not be identical). 
 (b)     To designate from time to time which Subsidiaries and/or
affiliates of the Company shall be Designated Subsidiaries, which designation may be made without the approval of the stockholders of the Company. 

(c)     To adopt sub-plans or special rules applicable to Participants in
particular Designated Subsidiaries or locations, which sub-plans or special rules may be designed to be outside the scope of Section 423 of the Code and under the
Non-423 Component. 
 (d)    To construe and interpret the Plan and rights
granted under it, and to establish, amend and revoke rules and regulations for its administration. The Administrator, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan, in a manner and to the extent it
shall deem necessary or expedient to make the Plan fully effective. 
 (e)     To amend, suspend or terminate the Plan
as provided in Article IX. 
 (f)     Generally, to exercise such powers and to perform such acts as the
Administrator deems necessary or expedient to promote the best interests of the Company and its Subsidiaries and to carry out the intent that the 423 Component of the Plan be treated as an “employee stock purchase plan” within the meaning
of Section 423 of the Code. 
 11.4     Decisions Binding. The Administrator’s interpretation of the
Plan, any rights granted pursuant to the Plan, any subscription agreement and all decisions and determinations by the Administrator with respect to the Plan are final, binding, and conclusive on all parties. 

  
 10 

 ARTICLE XII. 

MISCELLANEOUS 

12.1     Restriction upon Assignment. A right granted under the Plan shall not be transferable other than by will
or the applicable laws of descent and distribution, and is exercisable during the Participant’s lifetime only by the Participant. Except as provided in Section 12.4 hereof, a right under the Plan may not be exercised to any extent except
by the Participant. The Company shall not recognize and shall be under no duty to recognize any assignment or alienation of the Participant’s interest in the Plan, the Participant’s rights under the Plan or any rights thereunder. 

12.2     Rights as a Stockholder. With respect to Shares subject to a right granted under the Plan, a Participant
shall not be deemed to be a stockholder of the Company, and the Participant shall not have any of the rights or privileges of a stockholder, until such Shares have been issued to the Participant or his or her nominee following exercise of the
Participant’s rights under the Plan. No adjustments shall be made for dividends (ordinary or extraordinary, whether in cash securities, or other property) or distribution or other rights for which the record date occurs prior to the date of
such issuance, except as otherwise expressly provided herein or as determined by the Administrator. 
 12.3    
Interest. No interest shall accrue on the payroll deductions or contributions of a Participant under the Plan. 

12.4     Designation of Beneficiary. 

(a)     A Participant may, in the manner determined by the Administrator, file a written or electronic (subject to
Section 12.11, as applicable) designation of a beneficiary who is to receive any Shares and/or cash, if any, from the Participant’s account under the Plan in the event of such Participant’s death subsequent to a Purchase Date on which
the Participant’s rights are exercised but prior to delivery to such Participant of such Shares and cash. In addition, a Participant may file a written designation of a beneficiary who is to receive any cash from the Participant’s account
under the Plan in the event of such Participant’s death prior to exercise of the Participant’s rights under the Plan. If the Participant is married and resides in a community property state, a designation of a Person other than the
Participant’s spouse as his or her beneficiary shall not be effective without the prior written consent of the Participant’s spouse. 

(b)     Such designation of beneficiary may be changed by the Participant at any time by written notice to the Company. In
the event of the death of a Participant and in the absence of a beneficiary validly designated under the Plan who is living at the time of such Participant’s death, the Company shall deliver such Shares and/or cash to the executor or
administrator of the estate of the Participant, or if no such executor or administrator has been appointed (to the knowledge of the Company), the Company, in its discretion, may deliver such Shares and/or cash to the spouse or to any one or more
dependents or relatives of the Participant, or if no spouse, dependent or relative is known to the Company, then to such other Person as the Company may designate. 

12.5     Notices. All notices or other communications by a Participant to the Company under or in connection with
the Plan shall be deemed to have been duly given when received in the form specified by the Company at the location, or by the Person, designated by the Company for the receipt thereof. 

12.6     Equal Rights and Privileges. Subject to Section 5.7, all Eligible Employees who are granted rights
under the 423 Component of the Plan will have equal rights and privileges so that the Plan qualifies as an “employee stock purchase plan” within the meaning of Section 423 of the Code. Subject to Section 5.7, any provision of the
423 Component of the Plan that is inconsistent with Section 423 of the Code will, without further act or amendment by the Company, the Board or the Administrator, be reformed to comply with the equal rights and privileges requirement of
Section 423 of the Code. 
 12.7     Use of Funds. All payroll deductions received or held by the Company
under the Plan may be used by the Company for any corporate purpose, and the Company shall not be obligated to segregate such payroll deductions. 

12.8     No Employment Rights. Nothing in the Plan shall be construed to give any Person (including any Eligible
Employee or Participant) the right to remain in the employ of the Company or any Parent or Subsidiary or affect the right of the Company or any Parent or Subsidiary to terminate the employment of any Person (including any Eligible Employee or
Participant) at any time, with or without cause. 

  
 11 

 12.9     Notice of Disposition of Shares. Each Participant shall,
if requested by the Company, give prompt notice to the Company of any disposition or other transfer of any Shares purchased upon exercise of a right under the 423 Component of the Plan if such disposition or transfer is made: (a) within two
years from the Enrollment Date of the Offering Period in which the Shares were purchased or (b) within one year after the Purchase Date on which such Shares were purchased. Such notice shall specify the date of such disposition or other
transfer and the amount realized, in cash, other property, assumption of indebtedness or other consideration, by the Participant in such disposition or other transfer. 

12.10     Governing Law. The Plan and any agreements hereunder shall be administered, interpreted and enforced
under the internal laws of the State of Delaware without regard to conflicts of laws thereof or of any other jurisdiction. 

12.11     Electronic Forms. To the extent permitted by Applicable Law and in the discretion of the Administrator,
an Eligible Employee may submit any designation, subscription agreement, form or notice as set forth herein by means of an electronic form approved by the Administrator. Before the commencement of an Offering Period, the Administrator shall
prescribe the time limits within which any such electronic form shall be submitted to the Administrator with respect to such Offering Period in order to be a valid election. 

  
 12EX-10.33

 Exhibit 10.33 

 
  

 
 STOCK PURCHASE AGREEMENT 

by and between 
 AMERICAN WELL
CORPORATION 
 and 
 GOOGLE LLC

 Dated as of August 22, 2020 
  

 
  

 TABLE OF CONTENTS 

 
  

							
	 	 	 	  	Page	 
	ARTICLE I	  

	
	DEFINITIONS	  

			
	Section 1.01	 	Definitions	  	 	1	 
	
	ARTICLE II	  

	
	PURCHASE AND SALE	  

			
	Section 2.01	 	Purchase and Sale	  	 	6	 
	Section 2.02	 	Closing	  	 	6	 
	
	ARTICLE III	  

	
	REPRESENTATIONS AND WARRANTIES OF THE COMPANY	  

			
	Section 3.01	 	Organization; Standing; Subsidiaries	  	 	7	 
	Section 3.02	 	Description of Capital Stock; Valid Issuance	  	 	7	 
	Section 3.03	 	Authority; Noncontravention	  	 	8	 
	Section 3.04	 	Governmental Approvals	  	 	9	 
	Section 3.05	 	Registration Statement	  	 	9	 
	Section 3.06	 	Compliance with Laws; Permits	  	 	10	 
	Section 3.07	 	Brokers and Other Advisors	  	 	10	 
	Section 3.08	 	Sale of Securities	  	 	10	 
	Section 3.09	 	Regulatory Filings	  	 	11	 
	Section 3.10	 	Investment Company	  	 	11	 
	Section 3.11	 	Foreign Corrupt Practices Act	  	 	11	 
	Section 3.12	 	OFAC	  	 	11	 
	Section 3.13	 	Money Laundering Laws	  	 	11	 
	Section 3.14	 	No Other Company Representations or Warranties	  	 	12	 
	
	ARTICLE IV	  

	
	REPRESENTATIONS AND WARRANTIES OF THE INVESTOR	  

			
	Section 4.01	 	Organization; Standing	  	 	12	 
	Section 4.02	 	Authority; Noncontravention	  	 	12	 
	Section 4.03	 	Governmental Approvals	  	 	13	 
	Section 4.04	 	Brokers and Other Advisors	  	 	13	 
	Section 4.05	 	Private Placement Matters	  	 	13	 
	Section 4.06	 	No Other Company Representations or Warranties	  	 	14	 
	Section 4.07	 	No Other Investor Representations or Warranties	  	 	14	 

  
 i 

							
	ARTICLE V	  

	
	ADDITIONAL AGREEMENTS	  

			
	Section 5.01	 	Further Action; Reasonable Best Efforts; Filings	  	 	14	 
	Section 5.02	 	Public Disclosure	  	 	16	 
	Section 5.03	 	Confidentiality	  	 	17	 
	Section 5.04	 	NYSE Listing of Class A Common Stock	  	 	17	 
	Section 5.05	 	Tax Matters	  	 	17	 
	Section 5.06	 	Reservation of Class A Common Stock	  	 	18	 
	Section 5.07	 	Furnishing of Information	  	 	18	 
	Section 5.08	 	Delivery of Issued Shares After Closing	  	 	18	 
	Section 5.09	 	Delivery of a Lock-Up Agreement	  	 	18	 
	Section 5.10	 	Transfer of Issued Shares	  	 	18	 
	ARTICLE VI	  

	
	CONDITIONS TO CLOSING	  

			
	Section 6.01	 	Conditions to the Obligations of the Company and the Investor	  	 	19	 
	Section 6.02	 	Conditions to the Obligations of the Company	  	 	19	 
	Section 6.03	 	Conditions to the Obligations of the Investor	  	 	19	 
	
	ARTICLE VII	  

	
	TERMINATION; SURVIVAL	  

			
	Section 7.01	 	Termination	  	 	20	 
	Section 7.02	 	Effect of Termination	  	 	21	 
	Section 7.03	 	Survival	  	 	21	 
	
	ARTICLE VIII	  

	
	MISCELLANEOUS	  

			
	Section 8.01	 	Amendments; Waivers	  	 	22	 
	Section 8.02	 	Extension of Time, Waiver, Etc.	  	 	22	 
	Section 8.03	 	Assignment	  	 	22	 
	Section 8.04	 	Counterparts	  	 	22	 
	Section 8.05	 	Entire Agreement; No Third-Party Beneficiaries	  	 	22	 
	Section 8.06	 	Governing Law; Jurisdiction	  	 	23	 
	Section 8.07	 	Specific Enforcement	  	 	23	 
	Section 8.08	 	WAIVER OF JURY TRIAL	  	 	24	 
	Section 8.09	 	Notices	  	 	24	 
	Section 8.10	 	Severability	  	 	25	 
	Section 8.11	 	Expenses	  	 	25	 
	Section 8.12	 	Interpretation	  	 	25	 

 ANNEXES 
 Annex
I        –        Form of Amendment to Rights Agreement 

  
 ii 

 STOCK PURCHASE AGREEMENT, dated as of August 22, 2020 (this
“Agreement”), by and between American Well Corporation, a Delaware corporation (the “Company”), and Google LLC, a Delaware limited liability company (the “Investor”). 

WHEREAS, the Company desires to issue, sell and deliver to the Investor, and the Investor desires to purchase and acquire from the Company,
pursuant to the terms and conditions set forth in this Agreement, the Issued Shares (as defined below); and 
 WHEREAS, concurrently with
the execution and delivery of this Agreement, and as a condition and inducement to the Company’s and the Investor’s willingness to enter into this Agreement, the Company and the Investor have entered into that certain Google Cloud Partner
Advantage Program Agreement, dated as of August 21, 2020 (as it may be amended, the “Partner Agreement”) and Addendum to Partner Agreement, dated as of August 21, 2020 (as it may be amended, the
“Addendum,” and together with the Partner Agreement, the “Commercial Agreement”). 
 NOW, THEREFORE, in
consideration of the mutual representations, warranties, covenants and agreements contained in this Agreement, the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby agree as follows: 

ARTICLE I 
 DEFINITIONS

 Section 1.01    Definitions. (a) As used in this Agreement (including the recitals hereto), the
following terms shall have the following meanings: 
 “Affiliate” means, with respect to any Person, any other Person that,
directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, such Person. The term “control” means the possession, directly or indirectly, of the power to direct or cause the
direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise, including the ability to elect at least a majority of the members of the board of directors or other governing body
of a Person, and the terms “controlled” and “controlling” have correlative meanings. 
 “Aggregate Purchase
Price” means the aggregate Purchase Price for the Issued Shares. 
 “Antitrust Law” means any applicable Law of
any jurisdiction designed to govern competition or prohibit, restrict or regulate actions with the purpose or effect of monopolization or restraint of trade. 

“Business Day” means any day except a Saturday, a Sunday or other day on which the SEC or banks in the City of New York are
authorized or required by Law to be closed; provided, however, for clarification, commercial banks shall not be deemed to be authorized or required by Law to remain closed due to “stay at home”, “shelter-in-place”, “non-essential employee” or any other similar orders or restrictions or the closure of any
physical branch locations at the direction of any governmental authority so long as the electronic funds transfer systems (including for wire transfers) of commercial banks in the City of New York generally are open for use by customers on such day.

  
 1 

 “Class A Common Stock” means the Class A common
stock, par value $0.01 per share, of the Company. 
 “Class B Common Stock” means the Class B
common stock, par value $0.01 per share, of the Company. 
 “Class C Common Stock” means the
Class C common stock, par value $0.01 per share, of the Company. 
 “Company Organizational Documents” means the
Company’s Amended and Restated Certificate of Incorporation and By-Laws. 
 “COVID-19” means SARS-CoV-2 or COVID-19, and any evolutions thereof or related or
associated epidemics, pandemics or disease outbreaks. 
 “Exchange Act” means the Securities Exchange Act of 1934, as
amended, and the rules and regulations promulgated thereunder. 
 “Fraud” means actual common law fraud in the making of a
representation, warranty, or other statement committed by a Person making such representation, warranty, or statement with the intent to deceive another Person, and to induce any Person to enter into this Agreement or any Transaction Document and
requires (a) a false representation, warranty, or statement of material fact; (b) actual knowledge or belief that such representation, warranty, or statement is false; (c) an intention to induce such other Person to whom such
representation, warranty, or statement was made to act or refrain from acting in reliance upon it; (d) causing that Person, in justifiable reliance upon such false representation, warranty, or statement to take or refrain from taking action;
and (e) causing such Person or any party hereto to suffer damage by reason of such reliance. For clarity, a claim for Fraud may only be made against such Person committing such Fraud, it being understood that if a Representative of a party
commits Fraud, then such party shall be deemed to have committed such Fraud. 
 “GAAP” means generally accepted accounting
principles in the United States, consistently applied. 
 “Governmental Authority” means any government, court, regulatory
or administrative agency, arbitrator (public or private), commission or authority or other legislative, executive or judicial governmental entity (in each case including any self-regulatory organization), whether federal, state or local, domestic,
foreign or multinational. 
 “Investor Material Adverse Effect” means any effect, change, event or occurrence that would
prevent or materially delay, interfere with, hinder or impair (i) the consummation by the Investor of any of the Transactions on a timely basis in accordance with the terms of this Agreement or (ii) the compliance by the Investor with its
obligations under this Agreement. 

  
 2 

 “IPO” means the Company’s initial public offering of shares of
Class A Common Stock pursuant to the Company’s Registration Statement. 
 “Issued Shares” means the number of
shares of Class C Common Stock equal to the quotient of $100,000,000 divided by the Purchase Price, rounded down to the nearest whole share. 

“Knowledge” means, with respect to the Company, the actual knowledge of Ido Schoenberg, Roy Schoenberg, Keith Anderson and
Bradford Gay, after reasonable inquiry by such individuals of direct reports who would reasonably be expected to have actual knowledge. 

“Material Adverse Effect” means any effect, change, event or occurrence that has a material adverse effect on the business,
results of operations, assets or financial condition of the Company and its Subsidiaries, taken as a whole, or that individually or in the aggregate has a material adverse effect on the performance of the Transaction Documents or the consummation of
the Transactions; provided, however, that none of the following, and no effect, change, event or occurrence arising out of, or resulting from, the following, shall constitute or be taken into account in determining whether a Material
Adverse Effect has occurred or would reasonably be expected to occur: any effect, change, event or occurrence (A) generally affecting (1) the industry in which the Company and its Subsidiaries operate or (2) the economy, credit or
financial or capital markets, in the United States or elsewhere in the world, including changes in interest or exchange rates, or (B) to the extent arising out of, resulting from or attributable to (1) changes or prospective changes in, or
issuances of new, Laws or GAAP or accounting standards, or any changes or prospective changes in the interpretation or enforcement of any of the foregoing, or any changes or prospective changes in general legal, regulatory or political conditions,
(2) the execution, announcement or performance of this Agreement or the consummation of the Transactions or the transactions contemplated by the Commercial Agreement, including the impact thereof on relationships, contractual or otherwise, with
Customers, suppliers, distributors, partners, employees or regulators, or any claims or litigation arising from allegations of breach of fiduciary duty or violation of Law relating to this Agreement, the Transactions or the transactions contemplated
by the Commercial Agreement, (3) acts of war (whether or not declared), sabotage or terrorism, or any escalation or worsening of any such acts of war (whether or not declared), sabotage or terrorism, (4) volcanoes, tsunamis, epidemics,
pandemics or disease outbreaks (including the COVID-19 pandemic), earthquakes, hurricanes, tornados or other natural disasters, (5) any action taken by the Company or its Subsidiaries that is required by
this Agreement or with the Investor’s written consent or at the Investor’s written request, or the failure to take any action by the Company or its Subsidiaries if that action is prohibited by this Agreement, (6) any change resulting
or arising from the identity of, or any facts or circumstances relating to, the Investor or any of its Affiliates, (7) any decline in the market price, or change in trading volume, of the capital stock of the Company or (8) any failure to
meet any internal or public projections, forecasts, guidance, estimates, milestones, budgets or internal or published financial or operating predictions of revenue, earnings, cash flow or cash position (it being understood that the exceptions in
clauses (7) and (8) shall not prevent or otherwise affect a determination that the underlying cause of any such change, decline or failure referred to therein (if not otherwise falling within any of the exceptions provided by clause
(A) and clauses (B)(1) through (6) hereof) is a Material Adverse Effect); provided further, however, that any effect, change, event or occurrence referred to in clause (A) or clauses (B)(1), (3) or
(4) may be taken into account in determining whether there has 

  
 3 

 
been, or would reasonably be expected to be, a Material Adverse Effect if such effect, change, event or occurrence has a disproportionate adverse effect on the business, results of operations,
assets or financial condition of the Company and its Subsidiaries, taken as a whole, as compared to other participants in the industry in which the Company and its Subsidiaries operate (in which case only the incremental disproportionate impact or
impacts may be taken into account in determining whether there has been, or would reasonably be expected to be, a Material Adverse Effect). 

“NYSE” means the New York Stock Exchange. 

“Person” means an individual, corporation, limited liability company, partnership, joint venture, association, trust,
unincorporated organization or any other entity, including a Governmental Authority. 
 “Purchase Price” means a dollar
amount per Issued Share equal to the initial public offering price per share of Class A Common Stock sold by the Company in the IPO (before any underwriting discounts and commissions). 

“Registration Statement” means the Company’s Registration Statement on Form S-1
pursuant to which the Company is registering the offer and sale of the shares to be offered and sold in the IPO, including any amendment thereto and any information deemed to be included therein pursuant to the rules and regulations of the SEC
promulgated under the Securities Act. 
 “Representatives” means, with respect to any Person, its officers, directors,
principals, partners, managers, members, employees, consultants, agents, financial advisors, investment bankers, attorneys, accountants, other advisors, Affiliates and other representatives. 

“Rights Agreement” means that certain Second Amended and Restated Investors’ Rights Agreement, dated as of
October 8, 2010, by and between the Company and the other parties thereto, as amended prior to the Closing Date. 
 “Rights
Agreement Amendment” means the amendment to the Rights Agreement to be entered into at the Closing to provide the Investor with registration rights pursuant to the Rights Agreement with respect to the Issued Shares, such amendment to be in
substantially the form attached hereto as “Annex A.” 
 “SEC” means the Securities and Exchange
Commission. 
 “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated
thereunder. 
 “Subsidiary”, when used with respect to any Person, means any corporation, limited liability company,
partnership, association, trust or other entity of which (x) securities or other ownership interests representing more than 50% of the ordinary voting power (or, in the case of a partnership, more than 50% of the general partnership interests)
or (y) sufficient voting rights to elect at least a majority of the board of directors or other governing body are, as of such date, owned by such Person or one or more Subsidiaries of such Person or by such Person and one or more Subsidiaries
of such Person. 

  
 4 

 “Transaction Documents” means this Agreement, the Commercial Agreement, the
Rights Agreement, as amended by the Rights Agreement Amendment, and all other documents, certificates or agreements executed in connection with the transactions contemplated by this Agreement and the Commercial Agreement. 

“Transactions” means the Purchase, the Rights Agreement Amendment, and the other transactions contemplated by this Agreement
and all other documents, certificates or agreements executed in connection with the transactions contemplated hereby or thereby; provided that, for purposes of this Agreement, in no event shall “Transactions” be deemed to include
the transactions contemplated by the Commercial Agreement. 
 “Transfer” by any Person means, directly or indirectly, to
sell, transfer, assign, pledge, encumber, hypothecate or otherwise dispose of or transfer (by the operation of Law or otherwise), either voluntarily or involuntarily, or to enter into any contract, option or other arrangement, agreement or
understanding with respect to the sale, transfer, assignment, pledge, encumbrance, hypothecation or other disposition or transfer (by the operation of Law or otherwise), of any shares of equity securities beneficially owned by such Person or of any
interest in any shares of equity securities beneficially owned by such Person. The terms “Transfers”, “Transferred” and “Transferring” shall have correlative meanings. 

“Underwriters” means the several underwriters named in the Underwriting Agreement. 

“Underwriting Agreement” means the underwriting agreement in the form executed by the Company and the representatives of the
Underwriters in connection with the IPO. 
 (b)    In addition to the terms defined in
Section 1.01(a), the following terms have the meanings assigned thereto in the Sections set forth below: 
  

			
	 Term
	  	Section
	 Action
	  	3.13
	 Addendum
	  	Preamble
	 Agreement
	  	Preamble
	 Antitrust Filings
	  	5.01(d)
	 Bankruptcy and Equity Exception
	  	3.03(a)
	 Closing
	  	2.02
	 Closing Date
	  	2.02
	 Commercial Agreement
	  	Recitals
	 Company
	  	Preamble
	 Company Board
	  	3.03(a)
	 Confidential Information
	  	5.03
	 Confidentiality Agreement
	  	5.03
	 Contract
	  	3.03(b)
	 Founder Transfer
	  	5.10

  
 5 

			
	 Term
	  	Section
	 Founder
	  	5.10
	 HSR Act
	  	5.01(c)
	 Investment Company Act
	  	3.10
	 Investor
	  	Preamble
	 IRS
	  	5.05
	 Judgments
	  	3.06
	 Laws
	  	3.06
	 Lock-Up Agreement
	  	5.09
	 Lock-Up Shares
	  	5.10
	 Money Laundering Laws
	  	3.13
	 OFAC
	  	3.12
	 Partner Agreement
	  	Preamble
	 Permits
	  	3.06
	 Purchase
	  	2.01
	 Restraints
	  	6.01(a)
	 Restricted Period
	  	5.10
	 Termination Date
	  	7.01(b)

 ARTICLE II 

PURCHASE AND SALE 

Section 2.01    Purchase and Sale. On the terms of this Agreement and subject to the satisfaction (or, to the
extent permitted by applicable Law, waiver by the party entitled to the benefit thereof) of the conditions set forth in Article VI, at the Closing, the Investor shall purchase and acquire from the Company, and the Company shall issue, sell
and deliver to the Investor, the Issued Shares for a purchase price per share equal to the Purchase Price and an aggregate purchase price equal to the Aggregate Purchase Price. The purchase and sale of the Issued Shares pursuant to this
Section 2.01 is referred to as the “Purchase”. 

Section 2.02    Closing. 

(a)    On the terms of this Agreement, the closing of the Purchase (the “Closing”) shall occur at the
location and at the time of the closing of the IPO or at such other place, time or date as shall be agreed between the Company and the Investor (the “Closing Date”). 

(b)    At the Closing: 

(i)    the Company shall deliver to the Investor: (1) the Issued Shares, free and clear of all liens,
except restrictions imposed by applicable securities Laws, and (2) a copy of the Rights Agreement Amendment duly executed by the Company and the Requisite Holders (as defined in the Rights Agreement Amendment); and 

(ii)    the Investor shall: (1) pay the Aggregate Purchase Price to the Company by wire transfer in
immediately available U.S. federal funds to an account designated by the Company in writing, and (2) deliver to the Company a copy of the Rights Agreement Amendment duly executed by the Investor. 

  
 6 

 ARTICLE III 

REPRESENTATIONS AND WARRANTIES OF THE COMPANY 

The Company represents and warrants to the Investor, as of the date hereof and as of the Closing Date (except to the extent made only as of a
specified date, in which case such representation and warranty is made as of such date): 

Section 3.01    Organization; Standing; Subsidiaries. 

(a)    The Company is a corporation duly organized and validly existing and in good standing under the Laws of the State of
Delaware and has all requisite corporate power and corporate authority necessary to carry on its business as it is now being conducted, except (other than with respect to the Company’s due organization and valid existence and good standing) as
would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The Company is duly licensed or qualified to do business and is in good standing (where such concept is recognized under applicable Law) in each
jurisdiction in which the nature of the business conducted by it or the character or location of the properties and assets owned or leased by it makes such licensing or qualification necessary, except where the failure to be so licensed, qualified
or in good standing would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(b)    Each of the Company’s Subsidiaries is duly organized, validly existing and in good standing (where such
concept is recognized under applicable Law) under the Laws of the jurisdiction of its organization, except where the failure to be so organized, existing and in good standing would not, individually or in the aggregate, reasonably be expected to
have a Material Adverse Effect. Each of the Company’s Subsidiaries is duly licensed or qualified to do business and is in good standing (where such concept is recognized under applicable Law) in each jurisdiction in which the nature of the
business conducted by it or the character or location of the properties and assets owned or leased by it makes such licensing or qualification necessary, except where the failure to be so licensed, qualified or in good standing would not,
individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

Section 3.02    Description of Capital Stock; Valid Issuance. 

(a)    As of the Closing Date, the statements set forth in the Time of Sale Prospectus (as defined in the Underwriting
Agreement) and the Prospectus (as defined in the Underwriting Agreement) under the caption “Description of Capital Stock,” insofar as they purport to constitute a summary of the terms of the Company’s capital stock, are accurate and
complete in all material respects. 

  
 7 

 (b)    The Issued Shares, when issued and delivered in accordance with
the terms of this Agreement, will be duly authorized (subject to the receipt of requisite stockholder approval for the amendment to the Amended and Restated Certificate of Incorporation authorizing the issuance of Class C Common Stock and the
filing of such amendment with the Secretary of State of the State of Delaware), validly issued, fully paid and non-assessable, and as of the Closing Date will conform to the description of the Class C
Common Stock contained in the Prospectus (as defined in the Underwriting Agreement). 

Section 3.03    Authority; Noncontravention. 

(a)    The Company has all necessary corporate power and corporate authority to execute and deliver this Agreement and the
other Transaction Documents and to perform its obligations hereunder and thereunder and to consummate the Transactions. The execution, delivery and performance by the Company of this Agreement and the other Transaction Documents, and the
consummation by the Company of the Transactions, have been duly authorized by the Board of Directors of the Company (the “Company Board”)and no other corporate action on the part of the Company is necessary to authorize the
execution, delivery and performance by the Company of this Agreement and the other Transaction Documents and the consummation by the Company of the Transactions, subject only to the receipt of requisite stockholder approval for the amendment to the
Amended and Restated Certificate of Incorporation authorizing the issuance of Class C Common Stock and the filing of such amendment with the Secretary of State of the State of Delaware, and the receipt of requisite stockholder approval for the
Rights Agreement Amendment. This Agreement and the Commercial Agreement have been, and at the Closing the other Transaction Documents to which the Company is party will be, duly executed and delivered by the Company and, assuming due authorization,
execution and delivery hereof or thereof, as applicable, by the Investor constitutes (or in the case of such other Transaction Documents, at the Closing will constitute) a legal, valid and binding obligation of the Company, enforceable against the
Company in accordance with its terms, except that such enforceability (i) may be limited by bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other similar Laws of general application affecting or relating to the
enforcement of creditors’ rights generally and (ii) is subject to general principles of equity, whether considered in a proceeding at law or in equity (the “Bankruptcy and Equity Exception”). 

(b)    Neither the execution and delivery of this Agreement or the Rights Agreement Amendment by the Company, nor the
consummation by the Company of the Transactions, nor performance or compliance by the Company with any of the terms or provisions hereof or thereof, will, assuming the receipt of requisite stockholder approval for the amendment to the Amended and
Restated Certificate of Incorporation authorizing the issuance of Class C Common Stock and the filing of such amendment with the Secretary of State of the State of Delaware, and the receipt of requisite stockholder approval for the Rights
Agreement Amendment, (i) conflict with or violate any provision of the Company Organizational Documents as in effect on the date hereof or as will be in effect on the Closing Date, or (ii) assuming that the authorizations, consents and
approvals referred to in Section 3.04 are obtained prior to the Closing Date and the filings referred to in Section 3.04 are made, (x) violate any Law or Judgment applicable to the Company or
(y) violate or constitute a default (or constitute an event which, with notice or lapse of time or both, would violate or constitute a default) under any of the terms, conditions or provisions of any loan or credit agreement, indenture,
debenture, note, bond, mortgage, deed of trust, lease, sublease, license, contract or other agreement (each, a “Contract”) 

  
 8 

 
to which the Company or any of its Subsidiaries, as applicable, is a party or accelerate the Company’s or, if applicable, any of its Subsidiaries’ obligations under any such Contract,
except in the case of clause (ii), as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

Section 3.04    Governmental Approvals. Except for (a) the filing of the Company’s Amended and
Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to be effective upon the Closing, (b) filings required under, and compliance with other applicable requirements of, the Securities Act and the Exchange
Act (c) compliance with the rules and regulations of the NYSE and (d) compliance with any applicable state securities or “Blue Sky” laws, no consent or approval of, or filing, license, permit or authorization, declaration or
registration with, any Governmental Authority is necessary for the execution and delivery of this Agreement and the other Transaction Documents by the Company, the performance by the Company of its obligations hereunder and thereunder and the
consummation by the Company of the Transactions, other than such other consents, approvals, filings, licenses, permits or authorizations, declarations or registrations that, if not obtained, made or given, would not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect. 
 Section 3.05    Registration
Statement. 
 (a)    The Registration Statement, and any amendment thereto, including any information deemed to be
included therein pursuant to the rules and regulations of the SEC promulgated under the Securities Act, complied (or, in the case of amendments filed after the date hereof, will comply) as of its filing date in all material respects with the
requirements of the Securities Act and the rules and regulations of the SEC promulgated thereunder, and did not (or, in the case of amendments filed after the date hereof, will not) contain any untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary in order to make the statements therein not misleading. As of the date it is declared effective by the SEC, the Registration Statement, as so amended, and any related registration statements,
will comply in all material respects with the requirements of the Securities Act and the rules and regulations of the SEC promulgated thereunder, and will not contain any untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary in order to make the statements therein not misleading. The preliminary prospectus included in the Registration Statement as of the date the Registration Statement is declared effective by the SEC, and any free
writing prospectus related to the Registration Statement and any final prospectus related to the Registration Statement filed pursuant to Rule 424 promulgated under the Securities Act, in each case as of its date, will comply in all material
respects with the requirements of the Securities Act and the rules and regulations promulgated thereunder, and will not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements
therein, in light of the circumstances under which they were made, not misleading. 
 (b)    The consolidated financial
statements of the Company (including all related notes or schedules) included in the Registration Statement complied (or, in the case of amendments filed after the date hereof, will comply) as to form in all material respects with the published
rules and regulations of the SEC with respect thereto, have been prepared in all material respects in accordance with GAAP (except, in the case of unaudited quarterly statements, as permitted by 

  
 9 

 
rules and regulations of the SEC) applied on a consistent basis during the periods involved (except (i) as may be indicated in the notes thereto or (ii) as permitted by Regulation S-X) and fairly present in all material respects the consolidated financial position of the Company and its consolidated Subsidiaries as of the dates thereof and the consolidated results of their
operations and cash flows for the periods shown (subject, in the case of unaudited quarterly financial statements, to normal year-end adjustments which are not material, individually or in the aggregate, and
the absence of footnote disclosures which if presented, would not reasonably be expected to differ materially from those presented in the audited financial statements included in the Registration Statement). 

(c)    Except as disclosed in the Registration Statement, the Company has not identified (i) any material weakness or
significant deficiency in the design or operation of internal control over financial reporting which is reasonably likely to adversely affect the Company’s ability to record, process, summarize and report financial information or (ii) any
fraud or allegation of fraud, whether or not material, that involves management or other employees who have a significant role in the Company’s internal control over financial reporting. 

Section 3.06    Compliance with Laws; Permits. The Company and each of its Subsidiaries are and its and
their business and operations are in compliance with all local, state or federal laws, common law, statutes, ordinances, codes, rules or regulations (“Laws”), or order, judgment, injunction, ruling, writ or decree of any
Governmental Authority (“Judgments”), applicable to the Company or any of its Subsidiaries, except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The Company and each
of its Subsidiaries hold and maintain all licenses, registrations, franchises, permits, certificates, approvals and authorizations from Governmental Authorities (“Permits”) necessary for the lawful conduct of their respective
businesses, except where the failure to hold or maintain the same would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

Section 3.07    Brokers and Other Advisors. No broker, investment banker, financial advisor or
other Person is entitled to any broker’s, finder’s, financial advisor’s or other similar fee or commission, or the reimbursement of expenses in connection therewith, in connection with the Transactions or the transactions contemplated
by the Commercial Agreement based upon arrangements made by or on behalf of the Company or any of its Subsidiaries. 

Section 3.08    Sale of Securities. Assuming the accuracy of the representations and warranties of the
Investor set forth in Section 4.05, the offer, sale and issuance of the Issued Shares pursuant to this Agreement is exempt from the registration and prospectus delivery requirements of the Securities Act. Without limiting
the foregoing, neither the Company nor, to the Knowledge of the Company, any other Person authorized by the Company to act on its behalf, has engaged in a general solicitation or general advertising (within the meaning of Regulation D of the
Securities Act) of investors with respect to offers or sales of the Issued Shares pursuant to this Agreement, and neither the Company nor, to the Knowledge of the Company, any Person acting on its behalf has made any offers or sales of any security
or solicited any offers to buy any security, under circumstances that would cause the offering or issuance of the Issued Shares under this Agreement to be integrated with prior offerings by the Company for purposes of the Securities Act that would
result in none of Regulation D or any other applicable exemption from registration under the Securities Act to be available, nor will the Company take any action or steps that would cause the offering or issuance of the Issued Shares under this
Agreement to be integrated with other offerings by the Company. 

  
 10 

 Section 3.09    Regulatory Filings. Neither the Company nor
any of its Subsidiaries has failed to file with the applicable Governmental Authority any required filing, declaration, listing, registration, report or submission, except for such failures that would not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect. All such filings, declarations, listings, registrations, reports or submissions were in compliance with applicable Laws when filed and no deficiencies have been asserted by any applicable
Governmental Authority with respect to any such filings, declarations, listings, registrations, reports or submissions, except for any deficiencies that, individually or in the aggregate, would not reasonably be expected to have a Material Adverse
Effect. 
 Section 3.10    Investment Company. The Company is not, and will not be, after giving
effect to the offer and sale of the Issued Shares, (a) required to register as an “investment company” (within the meaning of the Investment Company Act of 1940, as amended (the “Investment Company Act”)) or
(b) a “business development company” (as defined in Section 2(a)(48) of the Investment Company Act). 

Section 3.11    Foreign Corrupt Practices Act. Neither the Company nor any of its Subsidiaries, nor, to
the Knowledge of the Company, any director, officer, agent, employee or other person acting on behalf of the Company or any of its Subsidiaries, has: (i) used any corporate funds for any unlawful contribution, gift, entertainment or other
unlawful expense relating to political activity; (ii) made any direct or indirect unlawful payment to any foreign or domestic government official or employee from corporate funds; (iii) violated or is in violation of any provision of the
U.S. Foreign Corrupt Practices Act of 1977, applicable legislation implementing the Organization for Economic Co-operation and Development Convention on Bribery of Foreign Public Officials in International
Business Transactions, and the rules and regulations thereunder or any other similar applicable foreign or domestic law or regulation; or (iv) made any illegal bribe, payoff, influence payment, kickback or other unlawful payment. The Company
has instituted and maintains policies requiring continued compliance with the laws and regulations referenced in clause (iii) of this paragraph. 

Section 3.12    OFAC. Neither the Company nor any of its Subsidiaries nor, to the Knowledge of the
Company, any director, officer, agent, employee or controlled affiliate of the Company or any of its Subsidiaries is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department
(“OFAC”); and the Company will not directly or indirectly use the proceeds of the offering of the Issued Shares, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other person
or entity, for the purpose of financing the activities of any person currently subject to any U.S. sanctions administered by OFAC. 

Section 3.13    Money Laundering Laws. The operations of the Company and its Subsidiaries are and have
been conducted at all times in compliance with applicable money laundering laws of all jurisdictions to which the Company or its subsidiaries are subject, the rules and regulations thereunder issued, administered or enforced by any Governmental
Authority 

  
 11 

 
(collectively, the “Money Laundering Laws”) and no legal or administrative proceeding, suit, investigation, arbitration or action (“Action”) by or before any
Governmental Authority involving the Company or any of its Subsidiaries with respect to the Money Laundering Laws is pending or, to the Knowledge of the Company, threatened in writing. 

Section 3.14    No Other Company Representations or Warranties. Except for the representations and warranties
made by the Company in this Article III, neither the Company, any of its Affiliates nor any other Person acting on its behalf makes any other express or implied representation or warranty with respect to its capital stock, the Company or any of its
Subsidiaries or their respective businesses, operations, properties, assets, liabilities, condition (financial or otherwise) or prospects, and the Investor acknowledges the foregoing. 

ARTICLE IV 

REPRESENTATIONS AND WARRANTIES OF THE INVESTOR 

The Investor represents and warrants to the Company, as of the date hereof and as of the Closing Date (except to the extent made only as of a
specified date, in which case such representation and warranty is made as of such date): 

Section 4.01    Organization; Standing. The Investor is a limited liability company duly organized, validly
existing and in good standing under the Laws of the State of Delaware and has all requisite power and authority necessary to carry on its business as it is now being conducted and is duly licensed or qualified to do business and is in good standing
in each jurisdiction in which the nature of the business conducted by it or the character or location of the properties and assets owned or leased by it makes such licensing or qualification necessary, except where the failure to be so licensed,
qualified or in good standing would not, individually or in the aggregate, reasonably be expected to have an Investor Material Adverse Effect. 

Section 4.02    Authority; Noncontravention. 

(a)    The Investor has, and, as applicable, its Affiliates have, all necessary power and authority to execute and deliver
this Agreement and the other Transaction Documents, as applicable, and to perform its and their obligations hereunder and thereunder and to consummate the Transactions. The execution, delivery and performance by the Investor and its Affiliates, as
applicable, of this Agreement and the other Transaction Documents, and the consummation by the Investor and its Affiliates, as applicable, of the Transactions, have been duly authorized and approved by all necessary action on the part of the
Investor and its Affiliates, as applicable, and no further action, approval or authorization by any of their respective stockholders, partners, members or other equity owners, as the case may be, is necessary to authorize the execution, delivery and
performance by the Investor and its Affiliates, as applicable, of this Agreement and the other Transaction Documents and the consummation by the Investor and its Affiliates, as applicable, of the Transactions. This Agreement and the Commercial
Agreement have been, and at the Closing the other Transaction Documents to which the Investor and its Affiliates, as applicable, are party will be, duly executed and delivered by the Investor and its Affiliates, as applicable, and, assuming due
authorization, execution and delivery hereof or thereof, as 

  
 12 

 
applicable, by the Company and its Subsidiaries, as applicable, constitutes (or in the case of such other Transaction Documents, at the Closing will constitute) a legal, valid and binding
obligation of the Investor and its applicable Affiliates, enforceable against the Investor and its Affiliates, as applicable, in accordance with its terms, subject to the Bankruptcy and Equity Exception. 

(b)    Neither the execution and delivery of this Agreement or the other Transaction Documents by the Investor, nor the
consummation by the Investor of the Transactions, nor performance or compliance by the Investor with any of the terms or provisions hereof or thereof, will (i) conflict with or violate any provision of the certificate or formation, operating
agreement or other comparable charter or organizational documents of the Investor, or (ii) assuming that the authorizations, consents and approvals referred to in Section 4.03 are obtained prior to the Closing Date and
the filings referred to in Section 4.03 are made and any waiting periods with respect to such filings have terminated or expired prior to the Closing Date, (x) violate any Law or Judgment applicable to the Investor or
any of its Subsidiaries, or (y) violate or constitute a default (or constitute an event which, with notice or lapse of time or both, would violate or constitute a default) under any of the terms, conditions or provisions of any Contract to
which the Investor or any of its Subsidiaries is a party or accelerate the Investor’s or, if applicable, any of its Subsidiaries’, obligations under any such Contract, except, in the case of clause (ii), as would not, individually or in
the aggregate, reasonably be expected to have an Investor Material Adverse Effect. 

Section 4.03    Governmental Approvals. No consent or approval of, or filing, license, permit or
authorization, declaration or registration with, any Governmental Authority that would be required to be obtained or made by or on behalf of the Investor is necessary for the execution and delivery of this Agreement and the other Transaction
Documents by the Investor, the performance by the Investor of its obligations hereunder and thereunder and the consummation by the Investor of the Transactions, other than such other consents, approvals, filings, licenses, permits, authorizations,
declarations or registrations that, if not obtained, made or given, would not, individually or in the aggregate, reasonably be expected to have an Investor Material Adverse Effect. 

Section 4.04    Brokers and Other Advisors. No broker, investment banker, financial advisor or other Person is
entitled to any broker’s, finder’s, financial advisor’s or other similar fee or commission, or the reimbursement of expenses in connection therewith, in connection with the Transactions or the transactions contemplated by the
Commercial Agreement based upon arrangements made by or on behalf of the Investor or any of its Subsidiaries, except for Persons, if any, whose fees and expenses will be paid by the Investor. 

Section 4.05    Private Placement Matters. The Investor acknowledges that the offer and sale of the Issued
Shares and the Class A Common Stock issuable upon conversion of the Issued Shares have not been registered under the Securities Act or under any state or other applicable securities Laws. The Investor (a) acknowledges that it is acquiring
the Issued Shares and the Class A Common Stock issuable upon conversion of the Issued Shares pursuant to an exemption from registration under the Securities Act solely for investment with no intention to distribute any of the foregoing to any
Person, (b) will not sell, transfer, or otherwise dispose of any of the Issued Shares and the Class A Common Stock issuable upon conversion of the Issued Shares, except in 

  
 13 

 
compliance with the Transaction Documents and the registration requirements or exemption provisions of the Securities Act and any other applicable securities Laws, (c) has such knowledge and
experience in financial and business matters and in investments of this type that it is capable of evaluating the merits and risks of its investment in the Issued Shares and the Class A Common Stock issuable upon conversion of the Issued Shares
and of making an informed investment decision, (d) is an “accredited investor” (as that term is defined by Rule 501 of the Securities Act), (e) is a “qualified institutional buyer” (as that term is defined in Rule 144A of
the Securities Act) and (f) (1) has been furnished with or has had access to all the information that it considers necessary or appropriate to make an informed investment decision with respect to the Issued Shares and the Class A Common
Stock issuable upon conversion of the Issued Shares, (2) has had an opportunity to discuss with the Company and its Representatives the intended business and financial affairs of the Company and to obtain information necessary to verify any
information furnished to it or to which it had access and (3) can bear the economic risk of (i) an investment in the Issued Shares and the Class A Common Stock issuable upon conversion of the Issued Shares indefinitely and (ii) a
total loss in respect of such investment. The Investor has such knowledge and experience in business and financial matters so as to enable it to understand and evaluate the risks of, and form an investment decision with respect to its investment in,
the Issued Shares and the Class A Common Stock issuable upon conversion of the Issued Shares and to protect its own interest in connection with such investment. 

Section 4.06    No Other Company Representations or Warranties. Except for the representations and warranties
expressly set forth in Article III, the Investor hereby acknowledges that neither the Company nor any of its Subsidiaries or Affiliates, nor any other Person, has made or is making any other express or implied representation or warranty with respect
to the Company or any of its Subsidiaries or their respective businesses, operations, assets, liabilities, condition (financial or otherwise) or prospects. The Investor hereby acknowledges (for itself and on behalf of its Affiliates and
Representatives) that it has conducted, to its satisfaction, its own independent investigation of the business, operations, assets and financial condition of the Company and its Subsidiaries and, in making its determination to proceed with the
Transactions and the transactions contemplated by the Transaction Documents, the Investor and its Affiliates and Representatives have relied on the results of their own independent investigation. 

Section 4.07    No Other Investor Representations or Warranties. Except for the representations and warranties
expressly set forth in this Article IV, neither the Investor nor any other Person on its behalf has made or is making any other express or implied representation or warranty. 

ARTICLE V 
 ADDITIONAL
AGREEMENTS 
 Section 5.01    Further Action; Reasonable Best Efforts; Filings. 

(a)    Subject to the terms and conditions of this Agreement, each party shall use its reasonable best efforts to take, or
cause to be taken, all actions and to do, or cause to be done, and to assist and cooperate with the other parties in doing, all things reasonably necessary, proper 

  
 14 

 
or advisable under applicable Law to consummate and make effective the Transactions as promptly as practicable, including (i) the obtaining of all necessary actions, waivers, registrations,
permits, authorizations, orders, consents and approvals from Governmental Authorities, the expiry or early termination of any applicable waiting periods, and the making of all necessary registrations and filings (including filings with Governmental
Authorities, if any) and the taking of all steps as may be reasonably necessary to obtain an approval or waiver from, or to avoid an Action by, any Governmental Authorities, (ii) the delivery of required notices to, and the obtaining of
required consents or waivers from, any third parties necessary, proper or advisable to consummate the Transactions and (iii) the execution and delivery of any additional instruments necessary to consummate the Transactions and to fully carry
out the purposes of this Agreement. 
 (b)    Subject to applicable Law, the parties and their respective counsel shall
(i) cooperate in all respects with each other in connection with any filing or submission with any Governmental Authority in connection with the Transactions and the transactions contemplated by the Commercial Agreement and in connection with
any investigation or other inquiry by or before any Governmental Authority relating to the Transactions or the transactions contemplated by the Commercial Agreement, including any Action initiated by a private Person, (ii) have the right to
review in advance, and to the extent practicable each shall consult the other on, any material filing made with, or written materials to be submitted to, any Governmental Authority in connection with the Transactions or the transactions contemplated
by the Commercial Agreement and of any material communication received or given in connection with any Action by a private Person, in each case regarding any of the Transactions or the transactions contemplated by the Commercial Agreement,
(iii) promptly inform each other of any material communication (or any other material correspondence or memoranda) received from, or given to, any applicable Governmental Authority and (iv) promptly furnish each other with copies of all
correspondence, filings and written communications between them or their Subsidiaries or Affiliates, on the one hand, and any Governmental Authority or its respective staff, on the other hand, with respect to the Transactions or the transactions
contemplated by the Commercial Agreement. In furtherance of the foregoing, the parties hereto shall (with respect to any in-person discussion or meeting), and shall to the extent practicable (with respect to any telephonic discussion or meeting),
provide the other party and their respective counsel with advance notice of and the opportunity to participate in any material discussion or meeting with any Governmental Authority in respect of any filing, investigation or other inquiry in
connection with the Transactions or the transactions contemplated by the Commercial Agreement; provided that each of the parties hereto shall have the right to review in advance, and to the extent practicable each will consult the other on,
all the information relating to the other parties and their respective Affiliates, as the case may be, that appears in any filing made with, or written materials (including correspondence) submitted to, any third party and/or any Governmental
Authority in connection with any governmental inquiry, investigation or Action with respect to the Transactions or the transactions contemplated by the Commercial Agreement. Notwithstanding anything to the contrary in this
Section 5.01, materials provided to the other parties or their respective counsel may be redacted as necessary (i) to remove references concerning the valuation of the Company and (ii) to address reasonable
attorney-client or other privilege or confidentiality concerns. 

  
 15 

 (c)    For avoidance of doubt, it is expressly understood and agreed
that nothing in this Agreement shall require (i) Investor or any of its Subsidiaries or Affiliates, or (ii)the Company, to consent or proffer to divest, hold separate, or enter into any license or similar Contract with respect to, or agree to
restrict the ownership or operation of, any business or assets of the Company, Investor, or any of their respective Subsidiaries or Affiliates, in each case, with the intent of obtaining approvals under the Hart-Scott-Rodino Antitrust Improvements
Act of 1976, as amended (the “HSR Act”) or any other applicable Antitrust Law with respect to the Transactions. Notwithstanding anything to the contrary herein, in no event shall Investor or any of its Subsidiaries or
Affiliates or the Company be obligated to litigate, appeal, or participate in the litigation or appeal of any Action, in each case, with the intent of obtaining approvals under the HSR Act or any other applicable Antitrust Law with respect to the
Transactions. 
 (d)    If the parties take any actions following the Transactions that would require the filing of a
premerger notification form, filing or other application regarding the securities to be acquired by Investor in the Transactions under the HSR Act or other Antitrust Law (in such event, the “Antitrust Filings”), then the parties
shall make any such Antitrust Filings at such time as Investor may determine in its sole discretion is appropriate. If Investor determines that any Antitrust Filings are required or advisable, then (i) Investor shall have the sole right to
determine and direct the strategy and process by which the parties will seek any required approvals, clearances or expirations of applicable waiting periods under the HSR Act and any other applicable Antitrust Law; and (ii) the parties shall
(a) cooperate and coordinate with the other in the making of such Antitrust Filings, (b) supply the other with any information that may be required in order to make such Antitrust Filings, (c) supply any additional information that
reasonably may be required or requested by the FTC, the DOJ or other Governmental Authorities, including of any other applicable jurisdiction in which any such Antitrust Filing is made, under any other applicable Antitrust Law. 

Section 5.02    Public Disclosure. The Investor and the Company shall, and shall cause their Affiliates to,
consult with each other before issuing, and give each other the opportunity to review and comment upon, any press release or other public statements with respect to the Transaction Documents, the Transactions or the transactions contemplated by the
Commercial Agreement, and shall not issue any such press release or make any such public statement without the consent of the other party, which shall not be unreasonably withheld, conditioned or delayed, except as such release or announcement that
the Investor or the Company determines, after consultation with outside legal counsel, is required by applicable Law, Judgment, court process or the rules and regulations of any national securities exchange or national securities quotation system,
in which case the party required to make the release or announcement shall, if reasonably practicable, consult with the other party about, and allow the other party reasonable time (taking into account the circumstances) to comment on, such release
or announcement in advance of such issuance, and the party required to make the release or announcement will consider such comments in good faith. Notwithstanding the forgoing, this Section 5.02 shall not apply to any press
release or other public statement made by the Company or the Investor (or any of their respective Affiliates) (a) which does not contain any information relating to the Transactions or the transactions contemplated by the Commercial Agreement
that has not been previously announced or made public in accordance with the terms of this Agreement or (b) is made in the ordinary course of business and does not relate specifically to the signing of the Transaction Documents, the
Transactions or the transactions contemplated by the Commercial Agreement. 

  
 16 

 Section 5.03    Confidentiality. The Investor will, and will
cause its Affiliates and its and their respective Representatives to, keep confidential any information (including oral, written and electronic information) concerning the Company, its Subsidiaries or its Affiliates that may be furnished to the
Investor, its Affiliates or their respective Representatives by or on behalf of the Company or any of its Representatives pursuant to (x) this Agreement or (y) the Mutual Confidentiality and
Non-Disclosure Agreement, dated April 22, 2020, by and between the Company and the Investor (the “Confidentiality Agreement”) (the information referred to in clauses (x) and
(y) collectively referred to as the “Confidential Information”) and to use the Confidential Information solely for the purposes of monitoring, administering or managing the Investor’s investment in the Company made
pursuant to this Agreement or in connection with the performance of the Commercial Agreement; provided that the Confidential Information shall not include information that (i) was or becomes available to the public other than as a result
of a disclosure by the Investor, any of its Affiliates or any of their respective Representatives in violation of this Section 5.03, (ii) was or becomes available to the Investor, any of its Affiliates or any of their
respective Representatives from a source other than the Company or its Representatives, provided that such source is believed by the Investor not to be disclosing such information in violation of an obligation of confidentiality (whether by
agreement or otherwise) to the Company or any of its Subsidiaries, (iii) at the time of disclosure is already in the possession of the Investor, any of its Affiliates or any of their respective Representatives, provided that such
information is believed by the Investor not to be subject to an obligation of confidentiality (whether by agreement or otherwise) to the Company or any of its Subsidiaries, or (iv) was independently developed by the Investor, any of its
Affiliates or any of their respective Representatives without reference to, incorporation of, or other use of any Confidential Information. The Investor agrees, on behalf of itself and its Affiliates and its and their respective Representatives,
that Confidential Information may be disclosed solely (i) to the Investor’s Affiliates and its and their respective Representatives on a need-to-know basis or
(ii) in the event that the Investor, any of its Affiliates or any of its or their respective Representatives are required by applicable Law, Judgment, stock exchange rule or other applicable judicial or governmental process (including by
deposition, interrogatory, request for documents, subpoena, civil investigative demand or similar process) to disclose any Confidential Information, in each of which instances described in this clause (ii) the Investor, its Affiliates and its
and their respective Representatives, as the case may be, shall use reasonable efforts to provide notice to the Company sufficiently in advance of any such disclosure so that the Company will have a reasonable opportunity to timely seek to limit,
condition or quash such disclosure. 
 Section 5.04    NYSE Listing of Class A Common
Stock. Prior to the Closing, the shares of Class A Common Stock to be sold in the IPO, and the shares of Class A Common Stock issuable upon conversion of the Issued Shares, shall have been duly listed on the NYSE, subject only to
official notice of issuance. The Company shall use its reasonable best efforts to maintain the listing of such shares on the NYSE. 

Section 5.05    Tax Matters. The Company shall pay any and all documentary, stamp and similar issuance or
transfer tax due on the issuance of the Issued Shares and the issuance of Class A Common Stock upon conversion of the Issued Shares. 

  
 17 

 Section 5.06    Reservation of Class A
Common Stock. So long as the Investor or any of its Affiliates hold any Issued Shares, the Company shall take all action necessary to at all times have authorized, and reserved for the purpose of issuance from and after the Closing Date, the
maximum number of shares of Class A Common Stock to effect the conversion of such Issued Shares. 

Section 5.07    Furnishing of Information. The Company shall timely file (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 the Exchange Act (after giving effect to any grace period provided by Rule
12b-25 under the Exchange Act or any successor rule under the Exchange Act or any special order of the SEC). If the Company is not required to file reports pursuant to the Exchange Act, it will prepare and
furnish to the Investor and make publicly available in accordance with Rule 144(c) such information as is required for the Investor to sell the Issued Shares under Rule 144. 

Section 5.08    Delivery of Issued Shares After Closing. The Company shall deliver, or cause to be
delivered, a book-entry statement evidencing the Issued Shares within one (1) Business Day after the Closing Date. 

Section 5.09    Delivery of a Lock-Up Agreement. The Investor shall
deliver, or cause to be delivered, a lock-up agreement in the form reasonably required by the Underwriters (the “Lock-Up Agreement”). 

Section 5.10    Transfer of Issued Shares. The Investor hereby agrees that it shall not Transfer any of the
Issued Shares or any of the shares of Class A Common Stock issuable upon the conversion of the Issued Shares (collectively, the “Lock-Up Shares”), other than to Affiliates of the Investor
who agree to be similarly bound in writing, until the earlier of (i) the date that is the twelve (12)-month anniversary of the date hereof and (ii) the date on which the Commercial Agreement has been validly terminated in accordance with
its terms for any reason other than termination by the Company pursuant to paragraphs 2.a or 2.c of the section titled “Term and Termination” of the Addendum (the “Restricted Period”). In order to enforce this covenant,
the Company shall have the right to place restrictive legends on the book-entry accounts representing the Lock-Up Shares and to impose stop transfer instructions with respect to the Lock-Up Shares until the end of the Restricted Period. If prior to the end of the Restricted Period, Ido Schoenberg or Roy Schoenberg, or any of their Affiliates (other than the Company and its Subsidiaries) (each,
a “Founder”), completes any Transfer of equity securities of the Company other than to any Founder or the Affiliate (other than the Company and its Subsidiaries) of any Founder (“Founder Transfer”), the restrictions
set forth in this Section 5.10 shall no longer apply solely with respect to the number of Lock-Up Shares that equals (1) the number of shares that the Founder Transferred in such
Founder Transfer divided by (2) the sum of the shares of Class A Common Stock, Class B Common Stock and Class C Common Stock held, in the aggregate, by the Founders on the date of such Founder Transfer multiplied by
(3) the number of Lock-Up Shares held by the Investor on the date of such Founder Transfer; provided, however, that this sentence shall not apply to a Founder Transfer to the Company that is
disclosed in the Registration Statement. 

  
 18 

 ARTICLE VI 

CONDITIONS TO CLOSING 

Section 6.01    Conditions to the Obligations of the Company and the Investor. The respective obligations of
each of the Company and the Investor to effect the Closing shall be subject to the satisfaction (or waiver, if permissible under applicable Law) on or prior to the Closing Date of the following conditions: 

(a)    no Judgment enacted, promulgated, issued, entered, amended or enforced by any Governmental Authority or any
applicable Law (collectively, “Restraints”) shall be in effect enjoining or otherwise prohibiting consummation of the Transactions; and 

(b)    there shall have been no termination of the Commercial Agreement that, as of the Closing, is effective. 

Section 6.02    Conditions to the Obligations of the Company. The obligations of the Company to effect the
Closing shall be further subject to the satisfaction (or waiver, if permissible under applicable Law) on or prior to the Closing Date of the following conditions: 

(a)    the representations and warranties of the Investor set forth in this Agreement shall be true and correct
(disregarding all qualifications or limitations as to “materiality,” “Material Adverse Effect” and words of similar import) as of the date of this Agreement and as of the Closing Date with the same effect as though made on and as
of such date (except to the extent expressly made as of an earlier date, in which case as of such earlier date), except where the failure to be true and correct would not, individually or in the aggregate, reasonably be expected to have an Investor
Material Adverse Effect; 
 (b)    the Investor shall have complied with or performed in all material respects its
obligations and covenants required to be complied with or performed by it pursuant to this Agreement at or prior to the Closing; and 

(c)     the Investor shall have duly executed and delivered the Lock-Up Agreement
and such Lock-Up Agreement shall be in full force and effect. 

Section 6.03    Conditions to the Obligations of the Investor. The obligations of the Investor to effect the
Closing shall be further subject to the satisfaction (or waiver, if permissible under applicable Law) on or prior to the Closing Date of the following conditions: 

(a)    the representations and warranties of the Company set forth in this Agreement shall be true and correct
(disregarding all qualifications or limitations as to “materiality,” “Material Adverse Effect” and words of similar import) as of the date of this Agreement and as of the Closing Date with the same effect as though made on and as
of such date (except to the extent expressly made as of an earlier date, in which case as of such earlier date), except where the failure to be true and correct would not, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect; 

  
 19 

 (b)    the Company shall have complied with or performed in all material
respects its obligations and covenants required to be complied with or performed by it pursuant to this Agreement at or prior to the Closing; 

(c)    the Company shall have obtained any and all consents, permits, approvals, registrations and waivers necessary for
consummation of the Purchase and the consummation of the Transactions, all of which shall be in full force and effect; 

(d)    no stop order or suspension of trading shall have been imposed by the NYSE, the SEC or any other Governmental
Authority with respect to public trading in the Class A Common Stock; 
 (e)    the Class A Common Stock shall
be listed on the NYSE and the Company shall have applied to cause the shares of Class A Common Stock issuable upon conversion of the Issued Shares to be approved for listing on the NYSE, subject only to official notice of issuance; 

(f)    the Underwriters shall have purchased, immediately prior to the Purchase, the Firm Shares (as defined in the
Underwriting Agreement) at the initial public offering price (less any underwriting discounts or commissions); and 

(g)    the Rights Agreement, as amended by the Rights Agreement Amendment, shall be in full force and effect. 

ARTICLE VII 

TERMINATION; SURVIVAL 

Section 7.01    Termination. This Agreement may be terminated and the Transactions abandoned at any time prior
to the Closing: 
 (a)    by the mutual written consent of the Company and the Investor; 

(b)    by either the Company or the Investor, upon written notice to the other, if the closing of the IPO has not occurred
on or prior to October 8, 2020 (the “Termination Date”); 
 (c)     by either the Company or the
Investor if the Underwriting Agreement has been terminated in accordance with its terms following its execution (or if the Underwriting Agreement has not been executed, if the Company provides written notice to the Investor that it does not intend
to proceed with the IPO prior to the Termination Date); 
 (d)    by either the Company or the Investor, if any
Restraint enjoining or otherwise prohibiting consummation of the Transactions shall be in effect and shall have become final and nonappealable; provided that the party seeking to terminate this Agreement pursuant to this
Section 7.01(d) shall have used the required efforts to cause the conditions to Closing to be satisfied in accordance with Section 5.01; 

  
 20 

 (e)    by the Investor, if the Company shall have breached any of its
representations or warranties or failed to perform any of its covenants or agreements set forth in this Agreement, which breach or failure to perform (i) would give rise to the failure of a condition set forth in
Section 6.03(a) or Section 6.03(b) and (ii) is incapable of being cured prior to the Termination Date, or if capable of being cured, shall not have been cured within fourteen
(14) calendar days (but in no event later than the Termination Date) following receipt by the Company of written notice of such breach or failure to perform from the Investor stating the Investor’s intention to terminate this Agreement
pursuant to this Section 7.01(e) and the basis for such termination; provided that the Investor shall not have the right to terminate this Agreement pursuant to this Section 7.01(e) if the
Investor is then in material breach of any of its representations, warranties, covenants or agreements hereunder, which breach would give rise to the failure of any condition set forth in Section 6.02(a) or
Section 6.02(b) to be satisfied; or 
 (f)    by the Company, if the Investor shall have
breached any of its representations or warranties or failed to perform any of its covenants or agreements set forth in this Agreement, which breach or failure to perform (i) would give rise to the failure of a condition set forth in
Section 6.02(a) or Section 6.02(b) and (ii) is incapable of being cured prior to the Termination Date, or if capable of being cured, shall not have been cured within fourteen
(14) calendar days (but in no event later than the Termination Date) following receipt by the Investor of written notice of such breach or failure to perform from the Company stating the Company’s intention to terminate this Agreement
pursuant to this Section 7.01(f) and the basis for such termination; provided that the Company shall not have the right to terminate this Agreement pursuant to this Section 7.01(f) if the
Company is then in material breach of any of its representations, warranties, covenants or agreements hereunder, which breach would give rise to the failure of any condition set forth in Section 6.03(a) or
Section 6.03(b) to be satisfied. 
 Section 7.02    Effect of Termination. In the
event of the termination of this Agreement as provided in Section 7.01, written notice thereof shall be given to the other party, specifying the provision hereof pursuant to which such termination is made, and this
Agreement shall forthwith become null and void (other than Article I, Section 5.03, this Section 7.02 and Article VIII, all of which shall survive termination of this Agreement), and
there shall be no liability on the part of the Investor or the Company or their respective directors, officers and Affiliates, except that no such termination shall relieve any party from liability for damages to another party resulting from a
willful and material breach of this Agreement or from Fraud. 
 Section 7.03    Survival. All of the
covenants or other agreements of the parties contained in this Agreement shall survive until fully performed or fulfilled, unless and to the extent that non-compliance with such covenants or agreements is
waived in writing by the party entitled to such performance. The representations and warranties made herein shall survive for three (3) years following the Closing Date and shall then expire; provided that nothing herein shall relieve
any party of liability for any inaccuracy or breach of such representation or warranty to the extent that any good faith allegation of such inaccuracy or breach is made in writing prior to such expiration by a Person entitled to make such claim
pursuant to the terms and conditions of this Agreement. For the avoidance of doubt, claims may be made with respect to the breach of any representation, warranty or covenant until the applicable survival period expires. Notwithstanding any other

  
 21 

 
provision set forth in this Agreement, except in the case of Fraud, the maximum liability of the Company under or relating to this Agreement to the extent relating to or arising out of any breach
of the representations and warranties expressly set forth in this Agreement shall in no event exceed the Aggregate Purchase Price. 

ARTICLE VIII 

MISCELLANEOUS 

Section 8.01    Amendments; Waivers. Subject to compliance with applicable Law, this Agreement may be amended
or supplemented in any and all respects by written agreement of the parties hereto. 
 Section 8.02    Extension
of Time, Waiver, Etc. The Company and the Investor may, subject to applicable Law, (a) waive any inaccuracies in the representations and warranties of the other party contained herein or in any document delivered pursuant hereto,
(b) extend the time for the performance of any of the obligations or acts of the other party or (c) waive compliance by the other party with any of the agreements contained herein applicable to such party or, except as otherwise provided
herein, waive any of such party’s conditions. Notwithstanding the foregoing, no failure or delay by the Company or the Investor in exercising any right hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof
preclude any other or further exercise thereof or the exercise of any other right hereunder. Any agreement on the part of a party hereto to any such extension or waiver shall be valid only if set forth in an instrument in writing signed on behalf of
such party. 
 Section 8.03    Assignment. Neither this Agreement nor any of the rights, interests or
obligations hereunder shall be assigned, in whole or in part, by operation of Law or otherwise, by any of the parties hereto without the prior written consent of the other party hereto. 

Section 8.04    Counterparts. This Agreement and any other Transaction Documents may be executed in one or
more counterparts (including by electronic mail), each of which shall be deemed to be an original but all of which taken together shall constitute one and the same agreement, and shall become effective when one or more counterparts have been signed
by each of the parties hereto (including by electronic signature) and delivered to the other parties hereto (including electronically, e.g., in PDF format). 

Section 8.05    Entire Agreement; No Third-Party Beneficiaries. This Agreement together with the other
Transaction Documents and the Confidentiality Agreement constitute the entire agreement, and supersedes all other prior agreements and understandings, both written and oral, among the parties and their Affiliates, or any of them, with respect to the
subject matter hereof and thereof. No provision of this Agreement shall confer upon any Person other than the parties hereto and their permitted assigns any rights or remedies hereunder. 

  
 22 

 Section 8.06    Governing Law; Jurisdiction. 

(a)    This Agreement and all matters, claims or Actions (whether at law, in equity, in Contract, in tort or otherwise)
based upon, arising out of or relating to this Agreement, execution or performance of this Agreement, shall be governed by, and construed in accordance with, the laws of the State of Delaware applicable to contracts executed in and to be performed
entirely within that State, regardless of the laws that might otherwise govern under any applicable conflict of Laws principles. 

(b)    All Actions arising out of or relating to this Agreement shall be heard and determined in the Chancery Court of the
State of Delaware (or, if the Chancery Court of the State of Delaware declines to accept jurisdiction over any Action, any state or federal court within the State of Delaware) and the parties hereto hereby irrevocably submit to the exclusive
jurisdiction and venue of such courts in any such Action and irrevocably waive the defense of an inconvenient forum or lack of jurisdiction to the maintenance of any such Action. The consents to jurisdiction and venue set forth in this
Section 8.06 shall not constitute general consents to service of process in the State of Delaware and shall have no effect for any purpose except as provided in this paragraph and shall not be deemed to confer rights on any
Person other than the parties hereto. Each party hereto agrees that service of process upon such party in any Action arising out of or relating to this Agreement shall be effective if notice is given by overnight courier at the address set forth in
Section 8.09. The parties hereto agree that a final judgment in any such Action shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by applicable Law;
provided, however, that nothing in the foregoing shall restrict any party’s rights to seek any post-judgment relief regarding, or any appeal from, a final trial court judgment. 

Section 8.07    Specific Enforcement. The parties hereto agree that irreparable damage for which monetary
relief, even if available, would not be an adequate remedy, would occur in the event that any provision of this Agreement is not performed in accordance with its specific terms or is otherwise breached, including if the parties hereto fail to take
any action required of them hereunder to cause the Closing to occur, and that time is of the essence. The parties acknowledge and agree that (a) the parties shall be entitled to an injunction or injunctions, specific performance or other
equitable relief to prevent breaches of this Agreement and to enforce specifically the terms and provisions hereof (including, for the avoidance of doubt, the right of the Company to cause the Purchase to be consummated on the terms and subject to
the conditions set forth in this Agreement) in the courts described in Section 8.06 without proof of damages or otherwise, this being in addition to any other remedy to which they are entitled under this Agreement and
(b) the right of specific enforcement is an integral part of the Transactions and without that right, neither the Company nor the Investor would have entered into this Agreement. The parties hereto agree not to assert that a remedy of specific
enforcement is unenforceable, invalid, contrary to Law or inequitable for any reason, and agree not to assert that a remedy of monetary damages would provide an adequate remedy or that the parties otherwise have an adequate remedy at law. The
parties hereto acknowledge and agree that any party seeking an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement in accordance with this
Section 8.07 shall not be required to provide any bond or other security in connection with any such order or injunction. 

  
 23 

 Section 8.08    WAIVER OF JURY TRIAL. EACH PARTY
ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE IT HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT AND ANY OF THE AGREEMENTS DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS CONTEMPLATED HEREBY OR
THEREBY. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE, 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, (B) IT UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF SUCH WAIVER, (C) IT MAKES SUCH WAIVER VOLUNTARILY AND (D) IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVER AND CERTIFICATIONS
IN THIS SECTION 8.08. 
 Section 8.09    Notices. All notices, requests and other communications to
any party hereunder shall be in writing and shall be deemed given if delivered personally, emailed (which is confirmed) or sent by overnight courier (providing proof of delivery) to the parties at the following addresses: 

(a)    If to the Company, to it at: 

 American Well Corporation 

 75 State Street, 26th Floor 

 Boston, MA 02109 

 Attention: Bradford Gay 

 Email: bradford.gay@amwell.com 

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

 Wachtell, Lipton, Rosen & Katz 

 51 West 52nd St. 

 New York, New York 10019 

 Attention: Adam O. Emmerich, Ronald C. Chen 

 E-mail: aoemmerich@wrk.com, rcchen@wlrk.com 

(b)    If to the Investor, to it at: 

 Google LLC 
  1600
Amphitheatre Parkway 
  Mountain View, CA 94043 

 Attention: Svilen Karaivanov 

 Email: investments-notice@google.com 

  
 24 

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

 Wilson Sonsini Goodrich & Rosati P.C. 

 701 Fifth Avenue, Suite 5100 

 Seattle, WA 98104 

 Attention: Michael Nordtvedt 

 Email: mnordtvedt@wsgr.com 
 or such other
address or email address as such party may hereafter specify by like notice to the other parties hereto. All such notices, requests and other communications shall be deemed received on the date of actual receipt by the recipient thereof if received
prior to 5:00 p.m. local time in the place of receipt and such day is a Business Day in the place of receipt. Otherwise, any such notice, request or communication shall be deemed not to have been received until the next succeeding Business Day
in the place of receipt. 
 Section 8.10    Severability. If any term, condition or other provision of this
Agreement is determined by a court of competent jurisdiction to be invalid, illegal or incapable of being enforced by any rule of Law or public policy, all other terms, provisions and conditions of this Agreement shall nevertheless remain in full
force and effect. Upon such determination that any term, condition or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent
of the parties as closely as possible to the fullest extent permitted by applicable Law. 

Section 8.11    Expenses. Except as otherwise expressly provided herein, all costs and expenses, including
fees and disbursements of counsel, financial advisors and accountants, incurred in connection with this Agreement, the Transactions and the transactions contemplated by the Commercial Agreement shall be paid by the party incurring such costs and
expenses, whether or not the Closing shall have occurred. 
 Section 8.12    Interpretation. 

(a)    When a reference is made in this Agreement to an Article, a Section, Exhibit or Schedule, such reference shall be to
an Article of, a Section of, or an Exhibit or Schedule to, this Agreement unless otherwise indicated. The table of contents and headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement. Whenever the words “include”, “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation”. The words
“hereof”, “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement. The words “date
hereof” when used in this Agreement shall refer to the date of this Agreement. The terms “or”, “any” and “either” are not exclusive. The word “extent” in the phrase “to the extent” shall mean
the degree to which a subject or other thing extends, and such phrase shall not mean simply “if”. The word “will” shall be construed to have the same meaning and effect as the word “shall”. The words “made
available to the Investor” and words of similar import refer to documents delivered in writing or electronically to the Investor or its Representatives at or prior to the execution of this Agreement. The words “ordinary course of
business” shall be deemed 

  
 25 

 
to include any action taken or not taken by the Company that has been authorized by the Company Board acting in good faith in response to the actual or anticipated effects of COVID-19 on the Company or any of its Subsidiaries. All accounting terms used and not defined herein shall have the respective meanings given to them under GAAP. The definitions contained in this Agreement are
applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such term. In the event that the Class A Common Stock is listed on a national securities exchange other
than the NYSE, all references herein to the NYSE shall be deemed to be references to such other national securities exchange. Any agreement, instrument or statute defined or referred to herein or in any agreement or instrument that is referred to
herein means such agreement, instrument or statute as from time to time amended, modified or supplemented, including (in the case of agreements or instruments) by waiver or consent and (in the case of statutes) by succession of comparable successor
statutes and references to all attachments thereto and instruments incorporated therein. Unless otherwise specifically indicated, all references to “dollars” or “$” shall refer to the lawful money of the United States. References
to a Person are also to its permitted assigns and successors. When calculating the period of time between which, within which or following which any act is to be done or step taken pursuant to this Agreement, the date that is the reference date in
calculating such period shall be excluded (and unless if otherwise required by Law, if the last day of such period is not a Business Day, the period in question shall end on the next succeeding Business Day). 

(b)    The parties hereto have participated jointly in the negotiation and drafting of this Agreement and, in the event an
ambiguity or question of intent or interpretation arises, this Agreement shall be construed as jointly drafted by the parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party hereto by virtue of the
authorship of any provision of this Agreement. 
 [Remainder of page intentionally left blank] 

  
 26 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and
delivered as of the date first above written. 
  

			
	AMERICAN WELL CORPORATION
		
	By:	 	 /s/ Bradford Gay

	Name:	 	Bradford Gay
	Title:	 	SVP & General Counsel

  
 [Signature Page to
Stock Purchase Agreement] 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and
delivered as of the date first above written. 
  

			
	GOOGLE LLC
		
	By:	 	 /s/ Sanjay Kapoor

	Name:	 	Sanjay Kapoor
	Title:	 	Vice President, Corporate Development

  
 [Signature Page to
Stock Purchase Agreement] 

 ANNEX I 

FORM OF AMENDMENT TO RIGHTS AGREEMENT 

 AMENDMENT NO. 4 AND JOINDER 

TO 
 SECOND AMENDED AND
RESTATED INVESTORS’ RIGHTS AGREEMENT 
 This Amendment No. 4 and Joinder (this “Amendment”), effective as of
[●], 2020, is made to that certain Second Amended and Restated Investors’ Rights Agreement, dated as of October 8, 2010, by and among American Well Corporation, a Delaware corporation (the “Company”), the Investors
and the Common Holders, as amended by Amendment No. 1, dated as of November 21, 2016, Amendment No. 2, dated as of May 29, 2018 and Amendment No. 3, dated as of July 19, 2019 (as amended, the
“Agreement”). Unless otherwise defined herein, capitalized terms used herein shall have the meanings given to such terms in the Agreement. 

WHEREAS, in connection with the Company’s initial public offering, the Company and Google LLC, a Delaware limited liability company
(“Google”), entered into that certain Stock Purchase Agreement, dated as of August 22, 2020 (the “Stock Purchase Agreement”), and it is a condition to the closing of the issuance and sale of the shares of
Class C Common Stock, par value $0.01 per share (the “Class C Common Stock”), by the Company to Google pursuant to the Stock Purchase Agreement that Google be joined as a party to the Agreement and that the
Agreement be amended as set forth in this Amendment; 
 WHEREAS, pursuant to Sections 2.13 and 8.1 of the Agreement, Google may only be
joined as a party to the Agreement with the prior written consent of the Holders holding a majority of Registrable Securities (the “Requisite Holders”) and the Agreement may only be amended by a written instrument executed by the
Company and the Requisite Holders; and 
 WHEREAS, the Company and the Requisite Holders hereby consent to join Google as a party to the
Agreement and to amend the Agreement as set forth in this Amendment. 
 NOW, THEREFORE, in consideration of the foregoing, and for other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, all of the parties hereto mutually agree as follows: 

1.    Joinder. 

(a)    By execution of this Amendment, Google hereby agrees to and does become party to the Agreement as a Holder and, in
its capacity as a Holder, agrees to be bound by the terms, conditions and agreements contained in the Agreement. This Amendment shall serve as a counterpart signature page to the Agreement and, by executing this Amendment, Google is deemed to have
executed the Agreement with the same force and effect as if originally named a party thereto. 
 (b)    By
execution hereof, the Company and the Requisite Holders hereby (i) accept the agreement of Google to be bound by the Agreement, (ii) covenant and agree that the Agreement is hereby amended to include Google as a party thereto in its
capacity as a Holder and (iii) agree that Google shall have all rights provided to a Holder under the Agreement. 

 2.    Amendment. As of the effective date of this Amendment, the
Agreement shall be amended as follows: 
 (a)    Section 1.1(c) is hereby amended to insert “, and any other capital
stock of the Company into which the Common Stock is reclassified or reconstituted; provided that Common Stock shall not include Class B Common Stock, par value $.01 per share, of the Company or Class C Common Stock, par value $.01
per share, of the Company” following “Company” such that Section 1.1(c) reads as follows: 

“(c)    “Common Stock” shall mean the Common Stock, par value $.01 per share of the Company, and any
other capital stock of the Company into which the Common Stock is reclassified or reconstituted; provided that Common Stock shall not include Class B Common Stock, par value $.01 per share, of the Company or Class C Common Stock,
par value $.01 per share, of the Company.” 
 (b)    Section 1.1(f) is hereby amended to insert “or extended
by joinder or amendment to this Agreement in accordance with Sections 2.13 and 8.1 of this Agreement” at the end of clause (ii) between “Agreement” and “, and” such that the full clause (ii) of Section 1.1(f)
reads as follows: 
 “(ii) any holder of Registrable Securities to whom the registration rights conferred by this Agreement have been
duly and validly transferred in accordance with Section 2.12 of this Agreement or extended by joinder or amendment to this Agreement in accordance with Sections 2.13 and 8.1 of this Agreement, and” 

(c)    Section 1.1(q) is hereby amended and restated in its entirety to read as follows: 

“(q)    “Registrable Securities” shall mean (i) shares of Common Stock issuable or issued
pursuant to the conversion of the Shares, exercise of the Warrant, or conversion of shares of Class C Common Stock; and (ii) any Common Stock issued as a dividend or other distribution with respect to or in exchange for or in replacement
of the shares referenced in (i) above; provided, however, that Registrable Securities shall not include any shares of Common Stock described in clause (i) above which have previously been registered or which have been sold to
the public either pursuant to a registration statement or Rule 144, or which have been sold in a private transaction in which the transferor’s rights under this Agreement are not validly assigned in accordance with this Agreement.” 

(d)    The last sentence of Section 2.8(ii) is hereby amended to insert “a detailed description of the manner
and circumstances of the proposed disposition,” between “require” and “opinion” and to insert “, solely with respect to opinions of counsel,” between “except” and “in”, such that the full
sentence reads as follows: 
 “It is agreed that the Company will not require a detailed description of the manner and circumstances of
the proposed disposition, opinions of counsel or “no action” letters for transactions made pursuant to Rule 144, except, solely with respect to opinions of counsel, in unusual circumstances.” 

  
 4 

 (e)    Section 8.1 is hereby amended to add the following sentence at
the end thereof: 
 “Notwithstanding any other term or provision of this Agreement, for so long as Google LLC is a Holder, this
Agreement may not be amended, waived, modified, supplemented, discharged or terminated in any manner that would adversely and disproportionately affect Google LLC’s rights without the prior written consent of Google LLC.” 

2.    No Other Modifications. Section 8 of the Agreement is hereby incorporated into this Amendment,
mutatis mutandis. Except as modified and amended herein, all other terms and provisions of the Agreement will not be amended and will remain in full force and effect. 

3.    Counterparts. This Amendment may be executed in two or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, such as
www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes. 

[Signature Page Follows] 

  
 5 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered as of the date first above written.  
  

			
	AMERICAN WELL CORPORATION

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 [Signature Page to
Amendment No. 4 and Joinder] 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered as of the date first above written. 
  

			
	GOOGLE LLC

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 [Signature Page to
Amendment No. 4 and Joinder]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00313-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00313-of-00352.parquet"}]]