Document:

Document

Exhibit 10.20

PEPSICO, INC.  
EXECUTIVE INCENTIVE COMPENSATION PLAN
(as amended and restated effective February 4, 2021)

 
PEPSICO, INC. 
 
EXECUTIVE INCENTIVE COMPENSATION PLAN 
(as amended and restated effective February 4, 2021)

 
									
	1.	 	Purpose.

 
The principal purposes of this PepsiCo, Inc. Executive Incentive Compensation Plan are to assist the Company in attracting, motivating and retaining participating eligible executives who have significant responsibility for the growth and long-term success of the Company by providing incentive awards that ensure a strong pay-for-performance linkage for such executives. 
 
									
	2.	 	Definitions.

 
(a) “Award” means an amount calculated and awarded to a Participant pursuant to the Plan. 
 
(b) “Board of Directors” means the Board of Directors of PepsiCo. 
  
(c) “Code” means the Internal Revenue Code of 1986, as amended from time to time. 
 
(d) “Committee” has the meaning set forth in Section 3(a). 
 
(e) “Company” means PepsiCo and its subsidiaries and divisions. 
 
(f) “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time. 
 
(g) “Eligible Executive” means an employee of the Company who is considered an executive officer of PepsiCo within the meaning of Section 16 of the Exchange Act, and the rules and regulations promulgated thereunder, and executives of the Company who are selected by the Committee as key executives that are eligible for participation in the Plan. 
 
(h) “Fiscal Year” means a fiscal year of the Company. 
 
(i) “Key Employee” has the meaning ascribed to it from time to time in the PepsiCo Executive Income Deferral Program. 
 
(j) “Misconduct” means (i) breaching any contract with or violating any obligation to the Company, including the Company’s Code of Conduct, Insider Trading Policy or any other written policies of the Company, (ii) unlawfully trading in the securities of PepsiCo or of any other company based on information gained as a result of employment with the Company, (iii) committing acts involving gross misconduct in the performance of employment duties, dishonesty, fraud, illegality or moral turpitude or that cause or contribute to the need for an accounting adjustment to PepsiCo’s financial results or (iv) in the judgement of the Committee, engaging in conduct that may be detrimental to or reflect unfavorably upon the Company or its brands, services, or products; provided, however that nothing in this section is intended to bar the Participant from engaging in Protected Activity.  For these purposes “Protected Activity” means that, nothing in this Plan or in any other confidentiality provision to which the Participant may be subject as a result of the Participant’s employment with the Company shall: (1) limit the Participant’s rights to make truthful statements or disclosures about any facts and circumstances related to any claim or allegation of unlawful discrimination by the Company; (2) bar the Participant from giving testimony pursuant to a compulsory legal process or as otherwise required by law; or (3) prohibit Participant from, without notice to the Company, filing a complaint or charge with government agencies (including, without limitation, the Equal Employment Opportunity Commission), communicating with 
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government agencies, providing information to government agencies, participating in government agency investigations, or testifying in government agency proceedings concerning any possible legal violations or from receiving a monetary award for information provided to a government agency. The Company nevertheless asserts and does not waive its attorney-client privilege over any information appropriately protected by the privilege.  
(k) “Participant” means an Eligible Executive participating in the Plan for a Performance Period as provided in Section 4(b). 
 
(l) “PepsiCo” means PepsiCo, Inc., a North Carolina corporation and its successors and assigns. 
 
(m) “Performance Goals” has the meaning set forth in Section 5(b).  

(n) “Performance Measures” has the meaning set forth in Section 5(c). 
 
(o) “Performance Period” means a Fiscal Year or other period of time (which may be longer or shorter than a Fiscal Year) set by the Committee during which the achievement of the Performance Goals is to be measured. 
 
(p) “Plan” means this PepsiCo, Inc. Executive Incentive Compensation Plan, as amended and restated herein, and as it may be amended from time to time.  
 
(q) “Section 409A” means Section 409A of the Code and the applicable regulations and other guidance of general applicability that are issued thereunder. 
 
(r) “Separation from Service” means separation from service as defined in Section 409A; provided that for purposes of determining whether a Separation from Service has occurred, the Plan has determined, based upon legitimate business criteria, to use the twenty percent (20%) test described in Treas. Reg. §1.409A-1(h)(3). In the event a Participant also provides services other than as an employee for the Company and its affiliates, as determined under the prior sentence, such other services shall not be taken into account in determining when a Separation from Service occurs to the extent permitted under Treas. Reg. § 1.409A-1(h)(5). 
 
									
	3.	 	Administration of the Plan.

 
(a) Committee. The Plan shall be administered by the Compensation Committee of the Board of Directors (the “Committee”). 
 
(b) Administration. The Committee shall have all the powers vested in it by the terms of this Plan, such powers to include the authority (within the limitations described herein) to select the persons to be granted Awards under the Plan, to determine the time when Awards will be granted, to determine whether objectives and conditions for earning Awards have been met, to determine whether Awards will be paid at the end of the Performance Period or deferred, consistent with Section 409A, and to determine the final payment amount of any Award . The Committee shall have full power and authority to administer and interpret the Plan and to adopt such rules, regulations, agreements, guidelines and instruments for the administration of the Plan and for the conduct of its business as the Committee deems necessary or advisable. The Committee’s interpretations of the Plan, and all actions taken and determinations made by the Committee pursuant to the powers vested in it hereunder, shall be conclusive and binding for all purposes and on all parties, including the Company, its shareholders, its employees and any person receiving an Award under the Plan, as well as their respective successors in interest. There is no obligation of uniformity of treatment of Participants under the Plan. No member of the Committee shall be liable for any action taken or determination made in good faith with respect to the Plan or any Award. 
  
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(c) Guidelines. The Committee may adopt from time to time written policies or rules as it deems necessary or desirable for the Committee’s implementation and administration of the Plan. 
 
 (d) Delegation of Administrative Authority. The Committee may delegate its responsibilities for administering the Plan to employees of the Company as it deems necessary or appropriate for the proper administration of the Plan. 
 
									
	4.	 	Eligibility and Participation.

 
(a) Eligibility. All Eligible Executives are eligible to participate in the Plan for any Performance Period. 
 
(b) Participation. For each Performance Period, the Committee shall select the Eligible Executives who shall participate in this Plan. 
 
									
	5.	 	Awards.

 
(a) Establishment of Basis for Awards. In connection with the grant of each Award, the Committee shall (i) establish the Performance Goal(s) and the Performance Period applicable to such Award, (ii) establish the formula for determining the amounts payable based on achievement of the applicable Performance Goal(s), (iii) determine the consequences for the Award of the Participant’s termination of employment for various reasons or the Participant’s demotion or promotion during the Performance Period and (iv) establish such other terms and conditions for the Award as the Committee deems appropriate.
 
(b) Performance Goals. The “Performance Goals” means the performance goals established by the Committee for each Performance Period. The Performance Goals may, without limitation, be based upon the performance of the Company as a whole, a Participant, or a subsidiary, division, department, region, function or business unit of the Company, using one or more of the Performance Measures selected by the Committee. The Performance Goals may, without limitation, be absolute or may be relative to a peer group or index. Separate Performance Goals may be established by the Committee for the Company or subsidiary or division, department, region, function or business unit thereof or an individual thereof, and different Performance Measures may be given different weights. 
 
(c) Performance Measures. The “Performance Measures” are one or more of the following criteria, or such other criteria as the Committee deems appropriate, on which Performance Goals may be based: stock price, market share, sales revenue, cash flow, sales volume, earnings per share, return on equity, return on assets, return on sales, return on invested capital, economic value added, net earnings, total shareholder return, gross margin, costs, productivity, brand contribution, product quality, portfolio transformation, productivity improvement, corporate value measures (such as compliance, safety, personnel matters as well as environmental, social and governance (ESG) criteria), or goals related to corporate initiatives, such as acquisitions, dispositions or customer satisfaction.   
 
(d) Adjustments. The Committee may adjust the Performance Goals or the manner in which performance will be measured against the Performance Goals based upon the occurrence of a qualifying criteria selected by the Committee that occurs during the Performance Period. Without limitation, such criteria may include: acquisition-related charges; litigation, claim judgments, settlements or tax settlements; the effects of changes in tax law, changes in accounting principles or other such laws or provisions affecting reported results; accruals for reorganization and restructuring programs; gains or losses from discontinued operations; consolidated operating results attributable to acquisitions; and any unusual or infrequently occurring items as described in Accounting Standard Codification 220-20 “Unusual or Infrequently Occurring Items”, and/or in management’s discussion and analysis of financial condition and results of operations appearing in the annual report to shareholders for the applicable year. 
 
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(e) Certification of Awards. After the end of the Performance Period and prior to payment of any Award, the Committee shall certify the degree to which the Performance Goals applicable to each Participant for the Performance Period were achieved or exceeded. Subject to Section 5(f), the Award for each Participant shall be determined by applying the applicable formula for the Performance Period based upon the level of achievement of the Performance Goals certified by the Committee. 
 
(f) Committee Discretion. Notwithstanding anything to the contrary in the Plan, the Committee may, in its sole discretion, adjust (including to reduce or eliminate), any Award payable to any Participant for any reason, including without limitation to reflect individual or business performance and/or unanticipated or subjective factors. 
 
(g) Maximum Awards. No Participant may receive an aggregate Award of more than $9 million under the Plan for any Performance Period (or in the case of a Performance Period other than a Fiscal Year, an amount that bears the same ratio to $9 million as the length of the Performance Period bears to a Fiscal Year). 
 
(h) Timing of Payment. Awards will be payable by the Company to Participants as soon as administratively practicable following the determination and certification of the Committee for the Performance Period pursuant to Section 5(e) above. In the case of any Participant subject to U.S. federal income tax, the Company shall distribute amounts payable to Participants in the calendar year following the year in which the Performance Period ends and no later than March 15th of that year. 
 
(i) Form of Payment. Awards will be paid in cash or cash equivalents. The Committee may determine that all or a portion of an Award shall be paid in stock, restricted stock, stock options or other stock-based or stock denominated units which shall be issued pursuant to the PepsiCo, Inc. Long-Term Incentive Plan or a successor equity compensation plan in existence at the time of grant. 
 
(j) Deferral of Payment of Awards. Notwithstanding Section 5(h), the Committee may defer the payout or vesting of any Award and/or provide to Participants the opportunity to elect to defer the payment of any Award under the PepsiCo Executive Income Deferral Program or any other PepsiCo approved deferred compensation plan or arrangement. With respect to any Award (or portion thereof), including any Award under the Company’s Premium Bonus Program, that constitutes deferred compensation subject to Section 409A and is not otherwise exempt from Section 409A, such Award (or portion thereof) shall not be paid earlier than the date that is six months after the Participant’s Separation from Service if the payment is based on the Participant’s Separation from Service (other than as a result of death) and the Participant is classified as a Key Employee at the time of his or her Separation from Service. 
 
(k) Certain Participants not Eligible. To be eligible for payment of any Award, the Participant must (i) be employed by the Company on the last day of the Performance Period unless the Committee specifies otherwise, (ii) have performed the Participant’s duties to the satisfaction of the Committee, and (iii) have not engaged in any acts that are considered by the Committee to constitute Misconduct. If the Committee determines following the date an Award is paid that the Participant, prior to the date of payment of such Award, engaged in any acts that are considered by the Committee to constitute Misconduct, the Participant shall be obligated, upon demand, to return the gross amount of such Award to the Company. 
 
									
	6.	 	Miscellaneous Provisions.

 
(a) Effect on Benefit Plans. Awards shall not be considered eligible pay under other plans, benefit arrangements or fringe benefit arrangements of the Company unless otherwise provided under the terms of such other plans. 
 
(b) Restriction on Transfer. Awards (or interests therein) or amounts payable with respect to a Participant under the Plan are not subject to transfer, assignment or alienation, whether voluntary or involuntary. 

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(c) Withholding Taxes. PepsiCo or any subsidiary or division thereof, as appropriate, shall have the right to deduct from all payments hereunder any federal, state, local or foreign taxes or social contributions required by law to be withheld with respect to such Awards. The Participant shall be solely responsible for the satisfaction of any federal, state, local or foreign taxes on payments under the Plan. 
 
(d) No Rights to Awards. Except as set forth herein, no Company employee or other person shall have any claim or right to be granted an award under the Plan. Neither the Plan nor any action taken hereunder shall be construed as giving any employee any right to be retained in the employ of PepsiCo or any of its subsidiaries, divisions or affiliates or to interfere with the ability of the Company to terminate any such employee’s employment relationship at any time. At no time before the actual payment of an Award shall any Participant or other person accrue any vested interest or right whatsoever under the Plan, and the Company has no obligation to treat Participants identically under the Plan. 
 
(e) Costs and Expenses. The cost and expenses of administering the Plan shall be borne by the Company and shall not be charged to any Award or to any Participant receiving an Award. 
 
(f) No Funding of Plan. The Plan shall be unfunded, and the Awards shall be paid solely from the general assets of the Company. The Company shall not be required to establish any special or separate fund or to make any other segregation of assets to assure the payment of any Award under the Plan. To the extent that any person acquires a right to receive payments under the Plan, the right is no greater than the right of any other unsecured general creditor. 
 
(g) Offset for Monies Owed. Any payments made under the Plan will be offset for any monies that are owed to the Company to the extent permitted by applicable law, including Section 409A if such payment is subject to Section 409A. 
 
(h) Other Incentive Plans. Nothing contained in the Plan shall prohibit the Company from granting other performance awards to employees of the Company (including Participants) under such other incentive arrangements, and in such form and manner, as it deems desirable. 
 
(i) Successors. All obligations of PepsiCo under the Plan shall be binding on any successor to PepsiCo whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise of all or substantially all of the business or assets of PepsiCo. 
 
(j) Section 409A. To the extent that any Award under the Plan is subject to Section 409A, the terms and administration of such Award shall comply with the provisions of Section 409A, and, to the extent necessary to achieve compliance, shall be modified at the discretion of the Committee. The Company makes no representation that any Award is exempt from or complies with Section 409A and makes no undertaking to preclude Section 409A from applying to Awards. The Company will have no liability to any Participant or to any other party if an Award that is intended to be exempt from or compliant with Section 409A is not so exempt or compliant or for any action taken by the Committee with respect thereto.
 
(k) Severability. If any provision of the Plan or any Award is or becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to applicable laws, or if it cannot be so construed or deemed amended without, in the determination of the Committee, materially altering the purpose or intent of the Plan or the Award, such provision shall be stricken as to such jurisdiction, and the remainder of the Plan or Award shall remain in full force and effect. 
 
(l) Governing Law. The Plan and all rights and awards hereunder shall be construed in accordance with and governed by the laws of the United States and/or the State of New York. Any claim or action filed in court or any other tribunal in connection with the Plan shall only be brought or filed in the federal or state courts located in the State of New York, County of New York.
 
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	7.	 	Effective Date, Amendments and Termination.

 
(a) Effective Date. The Plan, as amended and restated by the Committee on February 4, 2021, shall be effective for Awards granted on or after such date.  

 (b) Amendments. The Committee may at any time terminate or from time to time amend the Plan in whole or in part, but no such action shall adversely affect any rights or obligations with respect to any Awards theretofore made under the Plan.  
 
(c) Termination. The Plan shall continue in effect until terminated by the Committee. 

6EX-10.1

 Exhibit 10.1 

SPONSOR SUPPORT AGREEMENT 

This Sponsor Support Agreement (this “Sponsor Agreement”) is dated as of February 10, 2021 by and among Nebula
Caravel Holdings, LLC, a Delaware limited liability company (the “Sponsor”), the other Persons set forth on Schedule I hereto (together with the Sponsor, each, a “Sponsor Party” and, together, the
“Sponsor Parties”), Nebula Caravel Acquisition Corp., a Delaware corporation (“Parent”), and A Place for Rover, Inc. d/b/a Rover, a Delaware corporation (the “Company”). Capitalized terms used but
not defined herein shall have the respective meanings ascribed to such terms in the Merger Agreement (as defined below). 
 RECITALS

 WHEREAS, as of the date hereof, the Sponsor Parties collectively are the holders of record and the “beneficial owners”
(within the meaning of Rule 13d-3 under the Exchange Act) of 6,875,000 shares of Parent B Common Stock (such shares, the “Subject Shares”) and 5,166,667 Parent Private Placement Warrants (such
warrants, the “Subject Warrants”) in the aggregate as set forth on Schedule I attached hereto; 
 WHEREAS,
concurrently with the execution and delivery of this Sponsor Agreement, Parent, Fetch Merger Sub, Inc., a Delaware corporation and a direct wholly-owned subsidiary of Parent (“Merger Sub”), and the Company, are entering into a
Business Combination Agreement and Plan of Merger (as amended, restated, modified or supplemented from time to time, the “Merger Agreement”), dated as of the date hereof, pursuant to which, among other transactions, Merger Sub shall
merge with and into the Company, with the Company continuing on as the surviving entity on the terms and conditions set forth therein; and 

WHEREAS, as an inducement to Parent and the Company to enter into the Merger Agreement and to consummate the transactions contemplated
thereby, the parties hereto desire to agree to certain matters as set forth herein. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing and the mutual agreements contained herein, and intending to be legally bound hereby, the
parties hereto hereby agree as follows: 
 ARTICLE I 

SPONSOR SUPPORT AGREEMENT; COVENANTS 

1.1 Binding Effect of Merger Agreement. Each Sponsor Party hereby acknowledges that it has read the Merger Agreement and this Sponsor
Agreement and has had the opportunity to consult with its tax and legal advisors. Each Sponsor Party shall be bound by and comply with Sections 6.6 (No Solicitation by Parent) and 9.12 (Publicity) of the Merger Agreement (and any
relevant definitions contained in any such Sections) as if such Sponsor Party was an original signatory to the Merger Agreement with respect to such provisions. Each Sponsor Party agrees to take all necessary action (to the extent such action is not
prohibited by applicable Law and within such Sponsor Party’s control) to cause the Board of Directors of Parent to be reconstituted and comprised of the members described in Section 6.12 of the Merger Agreement immediately following the
Effective Time. 

 1.2 No Transfer. During the period commencing on the date hereof and ending on the
earlier of (a) the Effective Time and (b) such date and time as the Merger Agreement shall be terminated in accordance with Section 8.1 thereof (the earlier of (a) and (b), the “Expiration Time”), each Sponsor
Party shall not, directly or indirectly, (i) sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree to dispose of, directly or indirectly, file (or participate in the
filing of) a registration statement with the SEC (other than the Proxy Statement/Registration Statement) or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of
the Exchange Act, with respect to any shares of Parent Common Stock (“Parent Common Shares”) or Parent Warrants owned by such Sponsor Party, (ii) enter into any swap or other arrangement that transfers to another, in whole or
in part, any of the economic consequences of ownership of any shares of Parent Common Shares or Parent Warrants owned by such Sponsor Party or (iii) publicly announce any intention to effect any transaction specified in clause (i) or (ii)
(clauses (i), (ii) and (iii) collectively, a “Transfer”). 
 1.3 New Shares. In the event that (a) any
Parent Common Shares, Parent Warrants or other Parent Securities are issued to a Sponsor Party after the date of this Sponsor Agreement pursuant to any stock dividend, stock split, recapitalization, reclassification, combination or exchange of
Parent Common Shares or Parent Warrants of, on or affecting the Parent Common Shares or Parent Warrants owned by such Sponsor Party, (b) a Sponsor Party purchases or otherwise acquires beneficial ownership of any Parent Common Shares, Parent
Warrants or other Parent Securities after the date of this Sponsor Agreement and prior to the Closing, or (c) a Sponsor Party acquires the right to vote or share in the voting of any Parent Common Shares or other Parent after the date of this
Sponsor Agreement (such Parent Common Shares, Parent Warrants or other Parent, collectively the “New Securities”), then such New Securities acquired or purchased by such Sponsor Party shall be subject to the terms of this Sponsor
Agreement (other than the provisions of Section 1.9, which, for the avoidance of doubt, shall only apply to Subject Shares and Subject Warrants) to the same extent as if they constituted the Parent Common Shares or Parent
Warrants owned by such Sponsor Party as of the date hereof. For purposes of this Agreement, “Parent Securities” means (i) any outstanding shares of capital stock of, or other equity or voting interest in, the Parent,
(ii) any outstanding securities of Parent or any of its Subsidiaries convertible into or exchangeable for shares of capital stock of, or other equity or voting interest in, Parent or any of its Subsidiaries, (iii) any outstanding options,
warrants, rights or other commitments or agreements to acquire from Parent or any of its Subsidiaries, or that obligate Parent or any of its Subsidiaries to issue or register, or that restrict the transfer or voting of, any capital stock of, or
other equity or voting interest in, or any securities convertible into or exchangeable for shares of capital stock of, or other equity or voting interest in, Parent or any of its Subsidiaries, (iv) any obligations of Parent or any of its
Subsidiaries to grant, extend or enter into any subscription, warrant, right, convertible or exchangeable security or other similar agreement or commitment relating to any capital stock of, or other equity or voting interest (including any voting
debt) in, Parent or any of its Subsidiaries. 
 1.4 Closing Date Deliverables. On the Closing Date, (a) each of the Sponsor and
each other Sponsor Party that holds Subject Shares shall deliver to Parent and the Company a duly executed copy of that certain Investor Rights Agreement, by and among Parent, the Company, the Sponsor, certain of the Company’s stockholders or
their respective Affiliates, as applicable, and the other parties thereto, in substantially the form attached as Exhibit C to the Merger Agreement (b) each Sponsor Party shall deliver to Parent and the Company a duly executed copy of that
certain Lock-Up Agreement, by and among Parent, the Company, the Sponsor, certain of the Company’s stockholders or their respective affiliates, as applicable, and the other parties thereto, in
substantially the form attached as Exhibit D to the Merger Agreement. 
 1.5 Sponsor Agreements. 

(a) From the date hereof until the Expiration Time, each Sponsor Party hereby unconditionally and irrevocably agrees that, at any meeting of
the stockholders of Parent, however called, or at any adjournment thereof, or in any other circumstance in which the vote, consent or other approval of 

  
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the stockholders of Parent is sought, each Sponsor Party shall (i) appear at each such meeting or otherwise cause all of its Parent Common Shares to be counted as present thereat for
purposes of calculating a quorum and (ii) vote (or cause to be voted), or execute and deliver a written consent (or cause a written consent to be executed and delivered) covering, in person or by proxy, all of its Parent Common Shares: 

(i) in favor of each Transaction Proposal; 

(ii) against any Business Combination Proposal or any proposal relating to a Business Combination Proposal (in each case, other than the
Transaction Proposals); 
 (iii) against any merger agreement, merger, consolidation, combination, sale of substantial assets,
reorganization, recapitalization, dissolution, liquidation or winding up of or by Parent (other than the Merger Agreement and the transactions contemplated thereby); 

(iv) against any change in the business, management or Board of Directors of Parent (other than in connection with the Transaction Proposals);
and 
 (v) against any proposal, action or agreement that would (A) impede, frustrate, prevent or nullify any provision of this
Agreement, the Merger Agreement, any Ancillary Agreement or the Merger, (B) result in a breach in any respect of any covenant, representation, warranty or any other obligation or agreement of Parent or the Merger Sub under the Merger Agreement
or any Ancillary Agreement, (C) result in any of the conditions set forth in Article VII of the Merger Agreement not being fulfilled or (D) change in any manner the dividend policy or capitalization of, including the voting rights of any
class of capital stock of, Parent or any other Parent Securities (except in connection with the Merger Agreement and the transactions contemplated thereby). 

Each Sponsor Party hereby agrees that it shall not commit or agree to take any action inconsistent with the foregoing. 

(b) Each Sponsor Party shall comply with, and fully perform all of its obligations, covenants and agreements set forth in, that certain Letter
Agreement, dated as of December 8, 2020, by and among the Sponsor Parties, Parent and certain other parties thereto (the “Voting Letter Agreement”), including, without limitation, the obligations of the Sponsor Parties pursuant
to Section 1 therein to not redeem any Parent Common Shares owned by such Sponsor Party in connection with the transactions contemplated by the Merger Agreement. 

(c) During the period commencing on the date hereof and ending on the Expiration Time, each Sponsor Party shall not modify or amend any
Contract (other than the Sponsor Backstop Subscription Agreement, which shall be subject to the provisions of Section 6.19 of the Merger Agreement) between or among such Sponsor Party, anyone related by blood, marriage or adoption to such
Sponsor Party or any Affiliate of such Sponsor Party (other than Parent or any of its Subsidiaries), on the one hand, and Parent or any of Parent’s Subsidiaries, on the other hand, including, for the avoidance of doubt, the Voting Letter
Agreement, without the prior written consent of the Company. 
 1.6 Additional Agreements. Parent and each Sponsor party hereby
irrevocably and unconditionally agree that, if any amounts outstanding under any Working Capital Loan are extended to Parent or any Subsidiary of Parent by any Sponsor Party as of the Closing, then notwithstanding the terms of any promissory note or
other document evidencing such Working Capital Loan or any other Contract to which Parent or Sponsor is bound, Parent shall repay such outstanding amounts to such Sponsor Parties at the Closing solely in cash, and such Sponsor Party shall not
require any portion of such repayment to occur in the form of Parent Securities. 

  
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 1.7 Further Assurances. Each Sponsor Party shall execute and deliver, or cause to be
delivered, such additional documents, and take, or cause to be taken, all such further actions and do, or cause to be done, all things reasonably necessary (including under applicable Laws), to effect the actions required to consummate the Mergers
and the other transactions contemplated by this Agreement and the Merger Agreement, in each case, on the terms and subject to the conditions set forth therein and herein, as applicable. 

1.8 No Inconsistent Agreement. Each Sponsor Party hereby represents and covenants that such Sponsor Party has not entered into, and
shall not enter into, any agreement that would restrict, limit or interfere with the performance of such Sponsor Party’s obligations hereunder. 

1.9 Vesting and Forfeiture Provisions. 

(a) No Transfer of Subject Shares. Each Sponsor Party agrees that, on the Closing Date, all of the Subject Shares (and not, for the
avoidance of doubt, any other Parent Common Shares acquired or purchased by such Sponsor Party, whether pursuant to the Sponsor Backstop Subscription Agreement, or otherwise) held of record by such Sponsor Party as of the Closing shall be subject to
the vesting and forfeiture provisions set forth in this Section 1.9. Each Sponsor Party agrees that it shall not directly or indirectly Transfer any Subject Shares held of record by such Sponsor Party prior to the date such
Subject Shares become vested pursuant to this Section 1.9. 
 (b) Vesting and Forfeiture of Subject Shares.

 (i) In the event (x) there are no Parent Stockholder Redemptions or (y) no Backstop Shares (as defined in the Sponsor Backstop
Subscription Agreement) are purchased at the Closing pursuant to the Sponsor Backstop Subscription Agreement, the Subject Shares held of record by each Sponsor Party shall vest and no longer be subject to forfeiture as follows: 

 

	 	(A)	 40% of such Subject Shares (i.e., 2,750,000 Subject Shares held of record in the aggregate by all Sponsor
Parties at the Closing) shall vest upon the occurrence of a Triggering Event I; 

  

	 	(B)	 40% of such Subject Shares (i.e., 2,750,000 Subject Shares held of record in the aggregate by all Sponsor
Parties at the Closing) shall vest upon the occurrence of a Triggering Event II; and 

  

	 	(C)	 20% of such Subject Shares (i.e., 1,375,000 Subject Shares held of record in the aggregate by all Sponsor
Parties at the Closing) shall vest upon the occurrence of a Triggering Event III. 

 (ii) In the event the Sponsor
Backstop Amount is greater than zero (0), the Subject Shares held of record by each Sponsor Party shall vest or forfeit as follows: 
  

	 	(A)	 a number of such Subject Shares equal to the product of (x) 50% multiplied by (y) the quotient of
(1) the Sponsor Backstop Amount divided by (2) $50,000,000, shall vest and no longer be subject to forfeiture (except pursuant to Section 1.9(b)(iii)) at the Closing (provided, that such number shall be
capped at (A) 50% of the Subject Shares held of record by such Sponsor Party at the Closing and (B) 3,437,500 Subject Shares held of record in the aggregate by all Sponsor Parties at the Closing); 

  
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	 	(B)	 to the extent the Parent Stockholder Redemption Amount is greater than the Sponsor Backstop Amount, (such
difference, capped at a maximum amount of $200,000,000, the “Excess Amount”), a number of such Subject Shares equal to the product of (x) 50% multiplied by (y) the quotient of (1) the Excess Amount divided by
(2) $200,000,000, shall not vest and shall be forfeited as of immediately prior to the Closing as provided in Section 1.9(d) below (provided, that such number shall be capped at (A) 50% of the Subject Shares held of
record by such Sponsor Party at the Closing and (B) 3,437,500 Subject Shares held of record in the aggregate by all Sponsor Parties at the Closing); and 

  

	 	(C)	 with respect to any Subject Shares that do not vest in accordance with
Section 1.9(b)(ii)(A) or are not forfeited in accordance with Section 1.9(b)(ii)(B) (such shares, the “Remaining Subject Shares”) shall vest and no longer be subject to forfeiture
as follows: 

  

	 	(1)	 40% of the Remaining Subject Shares shall vest upon the occurrence of a Triggering Event I;

  

	 	(2)	 40% of the Remaining Subject Shares shall vest upon the occurrence of a Triggering Event II; and

  

	 	(3)	 20% of the Remaining Subject Shares shall vest upon the occurrence of a Triggering Event III.

 (iii) In the event that, at the Closing, the Unpaid Parent Expenses exceed the sum of (x) the Additional Parent
Cash, plus (y) $20,000,000 (the amount of such excess, the “Expenses Excess Amount”), then a number of Subject Shares in the aggregate equal to the quotient of (i) the Expenses Excess Amount divided by (ii) $10.00
(which shall be equitably adjusted for stock splits, reverse stock splits, stock dividends, reorganizations, recapitalizations, reclassifications, combination, exchange of shares or other like change or transaction with respect to Parent Common
Stock occurring prior to the Effective Time) shall be forfeited as of immediately prior to the Closing as provided in Section 1.9(d) below, with each Sponsor Party bearing its pro rata amount (based on the number of Subject
Shares held of record by such Sponsor Party relative to the number of Subject Shares held of record by all the Sponsor Parties) of such forfeiture; provided, that (x) any such forfeiture shall be applied first from the Remaining Subject
Shares, and the balance of such forfeiture shall be applied to the Subject Shares vested pursuant to Section 1.9(b)(ii)(A) and (y) before any such forfeiture shall be applied, the Sponsor and/or the Sponsor Parties
shall be permitted to pay such Expenses Excess Amount in cash prior to or concurrently with the Closing without further liability to Parent or any of its Subsidiaries (in which case, the Expenses Excess Amount shall be reduced on a dollar-for-dollar basis by the amount paid or to be paid by Sponsor and/or the Sponsor Parties prior to or concurrently with the Closing). 

(iv) For the avoidance of doubt, for all purposes of this Section 1.9, (i) each Triggering Event shall only occur
once, if at all and (ii) multiple Triggering Events may occur at the same time. For illustrative purposes only, in the event the Sponsor Backstop Amount is zero (0) and a Triggering Event III occurs (with no previous Triggering Event
having occurred), then a Triggering Event I and Triggering Event II shall also have occurred, and 100% of each Sponsor Party’s Subject Shares shall vest upon the occurrence of such Triggering Events. Notwithstanding anything herein to the
contrary, if, during the Earn Out Period, there is a Change of Control, then immediately prior to the consummation of such Change of Control: (a) any Triggering Event that has not previously occurred shall be deemed to have occurred; and
(b) all unvested Subject Shares shall vest and all Subject Shares shall be eligible to participate 

  
 -5- 

 
in such Change of Control. Notwithstanding anything herein or in the Merger Agreement to the contrary, for all purposes of this Sponsor Agreement, the Parent Stockholder Redemption Amount shall
be calculated on the basis that the amount paid with respect to each share of Parent Common Stock in connection with all Parent Stockholder Redemptions is $10.00 (which shall be equitably adjusted for stock splits, reverse stock splits, stock
dividends, reorganizations, recapitalizations, reclassifications, combination, exchange of shares or other like change or transaction with respect to Parent Common Stock occurring prior to the Effective Time). Notwithstanding anything in this
Section 1.9 to the contrary, references to specific numbers of Subject Shares in this Section 1.9 shall be equitably adjusted for stock splits, reverse stock splits, stock dividends,
reorganizations, recapitalizations, reclassifications, combination, exchange of shares or other like change or transaction with respect to Parent Common Stock occurring from time to time. 

(v) Upon the expiration of the Earn-Out Period, any Subject Shares or Remaining Subject Shares, as
applicable, that have not vested as of such time shall be forfeited in accordance with Section 1.9(d). 
 (c)
Forfeiture of Subject Warrants. 
 (i) The Sponsor shall forfeit 2,166,667 Subject Warrants as of immediately prior to the Closing as
provided in Section 1.9(d) below. In addition, if the Excess Amount is greater than zero (0), the Sponsor shall forfeit as of immediately prior to the Closing as provided in Section 1.9(d) below a
number of additional Subject Warrants equal to the product of (x) 1,500,000 multiplied by (y) the quotient of (A) the Excess Amount divided by (B) $200,000,000 (provided, that such number shall be capped at 1,500,000
of the Subject Warrants held of record by such Sponsor at the Closing). For purposes of this Agreement, “Remaining Subject Warrants” shall mean any Subject Warrants not forfeited pursuant to this
Section 1.9(c)(i). 
 (ii) Notwithstanding the terms of the Warrant Agreement, dated
December 8, 2020, among Parent and American Stock Transfer & Trust Company, LLC, as warrant agent (the “Sponsor Warrant Agreement”), if at any time following the Closing a Triggering Event IV occurs, then Parent shall
thereafter be entitled to provide written notice to the Sponsor requiring the Sponsor to exercise not less than all of the Remaining Subject Warrants. Any such exercise shall take place within thirty (30) days of receipt of the written notice
from Parent specified in the foregoing sentence and the Subject Warrants shall be exercisable for cash or on a “cashless basis” (at the election of the Sponsor) in accordance with the provisions of the Sponsor Warrant Agreement. For
purposes of this Agreement, a “Triggering Event IV” means that the VWAP of Parent Class A Common Stock is, at any time following the Closing, greater than or equal to $18.00 over any twenty (20) Trading Days within any
thirty (30) Trading Day period (which shall be equitably adjusted for stock splits, reverse stock splits, stock dividends, reorganizations, recapitalizations, reclassifications, combination, exchange of shares or other like change or
transaction with respect to Parent Class A Common Stock occurring on or after the Closing). 
 (d) Forfeiture Procedures.
Notwithstanding the provisions of Section 1.2, Subject Shares and Subject Warrants that are forfeited pursuant to this Section 1.9(d), shall, as of the applicable time, be deemed to have been
automatically and irrevocably surrendered, assigned and Transferred by the applicable forfeiting Sponsor Party to Parent without any consideration for such Transfer and Parent shall cancel such shares and/or warrants without any further action or
consent of such forfeiting Sponsor Party. Parent and the applicable Sponsor Party shall take all action as reasonably requested by Parent (including by executing and delivering any agreements, instruments, certificates or powers of attorney) in
order to effect such forfeiture, and otherwise to reflect the assignment, Transfer and recapture of such shares by Parent, without any consideration, and to vest Parent with full right, title and possession of such shares. Each Sponsor Party agrees
that Parent and American Stock Transfer & Trust Company, LLC, as transfer agent for the Company or warrant agent, as applicable, and any successor thereto, shall be entitled to rely conclusively on the terms of this Agreement in connection
with taking any such action necessary or advisable in connection with such forfeiture, including by amending and restating the Sponsor Warrant Agreement. 

  
 -6- 

 (e) Allocation of Vesting and Forfeiture. Notwithstanding anything in this
Section 1.9 to the contrary, in connection with any vesting or forfeiture of any Subject Shares and Subject Warrants pursuant to this Section 1.9, the Sponsor shall be entitled to allocate the
amount of any such vesting or forfeiture in any manner among the Sponsor Parties provided that such allocation does not increase or reduce the aggregate amount of such Subject Shares and Subject Warrants subject to vesting or forfeiture. 

(f) Voting and Dividends. Each Sponsor Party shall be entitled to vote its unvested Subject Shares and receive dividends and other
distributions (whether payable in the form of cash, stock or other assets), and to have all other economic rights (including, without limitation, the right to receive any consideration payable upon conversion or exchange), in each case, with respect
to such Subject Shares or Remaining Subject Shares, as applicable, while they remain unvested. 
 (g) Voting Letter Agreement. With
effect at the Closing, the provisions in this Section 1.9 shall supersede the lock-up provisions contained in Section and 7(a) of the Voting Letter Agreement, which provisions in such
letter agreement shall be of no further force or effect. 
 1.10 Waiver of Adjustment Provisions. Notwithstanding anything to the
contrary in any other document, agreement or contract to which a Sponsor Party is bound, but subject in all cases to the vesting and forfeiture provisions of Section 1.9, each Sponsor Party (for itself, himself or herself
and for its, his or her successors, heirs, assigns and permitted transferees) hereby (but subject to the consummation of the Merger) irrevocably and unconditionally waives and agrees not to exercise or assert, any rights to adjustment or other
anti-dilution protections with respect to the rate at which shares of Parent Class B Common Stock convert into shares of Parent Class A Common Stock in connection with the transactions contemplated by the Merger Agreement and, in
furtherance of the foregoing, each Sponsor Party hereby agrees and acknowledges that each share of Parent Class B Common Stock shall convert into shares of Parent Class A Common Stock on a one-for-one basis automatically upon the occurrence of the Effective Time, such waiver, agreement and acknowledgement constituting sufficient and necessary waiver under the terms of Parent’s Certificate
of Incorporation (the “Parent Charter”) to waive any and all adjustments to the Initial Conversion Ratio (as defined in the Parent Charter) in connection with, and subject to, the consummation of the Merger. 

1.11 Permitted Transfers. Notwithstanding the provisions set forth in Sections 1.2 and 1.9, each Sponsor Party may make
Transfers of shares of Parent Common Stock, Parent Warrants and shares of Parent Common Stock issued or issuable upon the exercise or conversion of the Parent Warrants (i) to (A) Parent’s or the Sponsor’s officers or directors, or
(B) any Affiliate of such Sponsor Party, including any related investment funds or vehicles controlled or managed by the Sponsor Parties or their respective Affiliates (provided, that no Transfer pursuant to this clause (B) shall be
permitted to any limited partners in such related investment funds); (ii) in the case of an individual, by gift to a member of the individual’s immediate family or to a trust, the beneficiary of which is a member of the individual’s
immediate family or an affiliate of such person or entity; (iii) in the case of an individual, by virtue of laws of descent and distribution upon death of the individual; (iv) in the case of an individual, pursuant to a qualified domestic
relations order, divorce settlement, divorce decree or separation agreement; (v) to a nominee or custodian of a Person to whom a Transfer would be permitted under clauses (i) through (iv) above; (vii) in connection with any bona fide
mortgage, encumbrance, pledge or other grant of a security interest to one or more financial or lending institutions as collateral or security for or in connection with any bona fide loans, advances or extensions of credit or debt transaction (or
enforcement thereunder) entered into by such 

  
 -7- 

 
Sponsor Party or any of its Affiliates, or any refinancings thereof, and any Transfers upon foreclosure thereof; or (viii) in connection with any legal, regulatory or other order;
provided, however, that in the case of the foregoing clauses (i) through (viii) the transferee must enter into a written agreement with the Company agreeing to be bound by this Agreement as a Sponsor Party prior to the
effectiveness of such Transfer. Notwithstanding the foregoing, each Sponsor Party shall hold any Subject Shares that have not become vested pursuant to Section 1.9 of record, in its name on the books and records of the
Company’s transfer agent. 
 1.12 No Challenges. Each Sponsor Party agrees not to commence or join in or knowingly facilitate,
assist or encourage, and agrees to take all actions necessary to opt out of any class in any class action with respect to, any claim, derivative or otherwise, against Parent, Merger Sub, the Company or any of their respective successors or directors
(except in any case arising out of the fraud of willful misconduct of such parties), (a) challenging the validity of, or seeking to enjoin the operation of, any provision of this Agreement or (b) alleging a breach of any fiduciary duty of any
Person in connection with the evaluation, negotiation or entry into the Merger Agreement. Notwithstanding the foregoing, nothing herein shall be deemed to prohibit such Sponsor Party from enforcing such Sponsor Party’s rights under this
Agreement and the other agreements entered into in by such Sponsor Party in connection herewith. 
 1.13 Affiliate Agreements. Each
Sponsor Party hereby agrees and consents to the termination of the Contracts set forth on Schedule III attached hereto to which such Sponsor Party is party, effective as of the Effective Time without any further liability or obligation to
Parent, the Company or their respective Subsidiaries. 
 ARTICLE II 

REPRESENTATIONS AND WARRANTIES 

2.1 Representations and Warranties of the Sponsor Parties. Each Sponsor Party represents and warrants as of the date hereof to Parent
and the Company (solely with respect to itself, himself or herself and not with respect to any other Sponsor Party) as follows: 
 (a)
Organization; Due Authorization. If such Sponsor Party is not an individual, it is duly organized, validly existing and in good standing under the Laws of the jurisdiction in which it is incorporated, formed, organized or constituted, and the
execution, delivery and performance of this Sponsor Agreement and the consummation of the transactions contemplated hereby are within such Sponsor Party’s corporate, limited liability company or organizational powers and have been duly
authorized by all necessary corporate, limited liability company or organizational actions on the part of such Sponsor Party. If such Sponsor Party is an individual, such Sponsor Party has full legal capacity, right and authority to execute and
deliver this Sponsor Agreement and to perform his or her obligations hereunder. This Sponsor Agreement has been duly executed and delivered by such Sponsor Party and, assuming due authorization, execution and delivery by the other parties to this
Sponsor Agreement, this Sponsor Agreement constitutes a legally valid and binding obligation of such Sponsor Party, enforceable against such Sponsor Party in accordance with the terms hereof, subject to the Enforceability Exceptions. If this Sponsor
Agreement is being executed in a representative or fiduciary capacity, the Person signing this Sponsor Agreement has full power and authority to enter into this Sponsor Agreement on behalf of the applicable Sponsor Party. 

(b) Ownership. Such Sponsor Party is, as of the date hereof, the record and beneficial owner (as defined in the Securities Act) of, and
has good title to, all of such Sponsor Party’s Subject Shares and Subject Warrants, and there exist no Liens or any other limitation or restriction (including any restriction on the right to vote, sell or otherwise dispose of such Parent Common
Shares or Parent Warrants (other than transfer restrictions under the Securities Act)) affecting any such Parent Common Shares or Parent Warrants, other than Liens pursuant to (i) this Sponsor Agreement, (ii) the Parent Governing

  
 -8- 

 
Documents, (iii) the Merger Agreement, (iv) the Voting Letter Agreement or (v) any applicable securities Laws. Such Sponsor Party’s Subject Shares and Subject Warrants are the
only equity securities in Parent owned of record or beneficially by such Sponsor Party on the date of this Sponsor Agreement, and none of such Sponsor Party’s Subject Shares or Subject Warrants are subject to any proxy, voting trust or other
agreement or arrangement with respect to the voting of such Subject Shares or Subject Warrants, except as provided hereunder and under the Voting Letter Agreement. Other than the Subject Warrants, such Sponsor Party does not hold or own any rights
to acquire (directly or indirectly) any equity securities of Parent or any equity securities convertible into, or which can be exchanged for, equity securities of Parent. As of the date of this Agreement, there have been no adjustments to the
Initial Conversion Ratio (as defined in Parent’s Certificate of Incorporation) pursuant to the terms of Parent’s Certificate of Incorporation such that the Parent Class B Common Stock would convert into shares of Parent Class A
Common Stock upon the Closing at a ratio that is greater than one-for-one. 

(c) No Conflicts. The execution and delivery of this Sponsor Agreement by such Sponsor Party does not, and the performance by such
Sponsor Party of his, her or its obligations hereunder will not, (i) if such Sponsor Party is not an individual, conflict with or result in a violation of the organizational documents of such Sponsor Party or (ii) require any consent or
approval that has not been given or other action that has not been taken by any Person (including under any Contract binding upon such Sponsor Party or such Sponsor Party’s Subject Shares or Subject Warrants), in each case of the foregoing
clauses (i) or (ii), except as would not prevent, enjoin or materially delay the performance by such Sponsor Party of its, his or her obligations under this Sponsor Agreement. 

(d) Litigation. There are no Actions pending against such Sponsor Party, or to the knowledge of such Sponsor Party threatened against
such Sponsor Party, before (or, in the case of threatened Actions, that would be before) any arbitrator or any Governmental Authority, which in any manner challenges or seeks to prevent, enjoin or materially delay the performance by such Sponsor
Party of its, his or her obligations under this Sponsor Agreement. 
 (e) Brokerage Fees. Except as described on Section 5.13 of
the Parent Disclosure Letter, no broker, finder, investment banker or other Person is entitled to any brokerage fee, finders’ fee or other commission in connection with the transactions contemplated by the Merger Agreement based upon
arrangements made by such Sponsor Party, for which Parent or any of its Affiliates may become liable. 
 (f) Affiliate Arrangements.
Except as set forth on Schedule II attached hereto or the Sponsor Backstop Subscription Agreement, neither such Sponsor Party nor any anyone related by blood, marriage or adoption to such Sponsor Party or, to the knowledge of such Sponsor
Party, any Person in which such Sponsor Party has a direct or indirect legal, contractual or beneficial ownership of 5% or greater, or any Affiliate, director, officer or manager (or equivalents), stockholders, member, partner or other equityholder,
or other employee, of any Sponsor Party or any of its Affiliates, is party to, or has any rights with respect to or arising from, any Contract with Parent or its Subsidiaries (any Contract required to be set forth on Schedule II, a
“Sponsor Contract”). 
 (g) Acknowledgment. Such Sponsor Party understands and acknowledges that each of Parent and
the Company is entering into the Merger Agreement in reliance upon such Sponsor Party’s execution and delivery of this Sponsor Agreement. 

(h) No Other Representations or Warranties. Except for the representations and warranties made by each Sponsor Party in this Article
II, no Sponsor Party nor any other Person makes any express or implied representation or warranty to Parent or the Company in connection with this Agreement or the transactions contemplated by this Agreement, and each Sponsor Party expressly
disclaims any such other representations or warranties. 

  
 -9- 

 ARTICLE III 

MISCELLANEOUS 
 3.1
Termination. This Sponsor Agreement and all of its provisions shall terminate and be of no further force or effect upon the earlier of (a) such date and time as the Merger Agreement shall be terminated in accordance with Section 8.1
thereof and (b) the written agreement of the Sponsor Party, Parent, and the Company. Upon such termination of this Agreement, all obligations of the parties under this Agreement will terminate, without any liability or other obligation on the
part of any party hereto, and no party hereto shall have any claim against any party hereto (and no Person shall have any rights against any party hereto), whether under contract, tort or otherwise, in each case under this Agreement, with respect to
the subject matter hereof or in respect of the transactions contemplated hereby (excluding, for the avoidance of doubt any obligation or liability, or any claim or rights, under the Merger Agreement or the other Ancillary Agreements or with respect
to the subject matter thereof or in respect of the transaction contemplated thereby); provided, however, that the termination of this Sponsor Agreement shall not relieve any party hereto from liability arising in respect of any breach
of this Sponsor Agreement prior to such termination. This ARTICLE III shall survive the termination of this Agreement. 
 3.2
Governing Law; Jurisdiction. This Sponsor Agreement, and all claims or causes of action (whether in contract, tort or otherwise) that may be based upon, arise out of or relate to this Sponsor Agreement or the negotiation, execution or
performance of this Sponsor Agreement (including any claim or cause of action based upon, arising out of or related to any representation or warranty made in or in connection with this Sponsor Agreement) shall be governed by and construed in
accordance with the law of the State of Delaware, regardless of the laws that might otherwise govern under applicable principles of conflicts of laws. Each of the parties hereto hereby irrevocably and unconditionally (a) submits, for itself and
its property, to the exclusive jurisdiction of the Delaware Court of Chancery (or, only if the Delaware Court of Chancery declines to accept jurisdiction over a particular matter, the Delaware Supreme Court or the United States District Court for
the District of Delaware), and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Sponsor Agreement or the negotiation, execution or performance of this Sponsor Agreement (including any claim or
cause of action based upon, arising out of or related to any representation or warranty made in or in connection with this Sponsor Agreement), or for recognition or enforcement of any judgment, and agrees that all claims in respect of any such
action or proceeding shall be heard and determined in such Delaware Court of Chancery (or, only if the Delaware Court of Chancery declines to accept jurisdiction over a particular matter, the Delaware Supreme Court or the United States District
Court for the District of Delaware), (b) waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this
Sponsor Agreement or the negotiation, execution or performance of this Sponsor Agreement (including any claim or cause of action based upon, arising out of or related to any representation or warranty made in or in connection with this Sponsor
Agreement) in the Delaware Court of Chancery or in the Delaware Supreme Court or the United States District Court for the District of Delaware, (c) waives, to the fullest extent permitted by Law, the defense of an inconvenient forum to the
maintenance of such action or proceeding in any such court and (d) agrees that a final judgment in any such suit, action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner
provided by Law. Each of the parties hereto agrees that service of process, summons, notice or document by registered mail addressed to it at the applicable address set forth in Section 3.8 shall be effective service of
process for any suit, action or proceeding brought in any such court. 
 3.3 Waiver of Jury Trial. THE PARTIES HEREBY IRREVOCABLY AND
UNCONDITIONALLY WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS SPONSOR AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY OR THE ACTIONS OF THE PARTIES IN THE

  
 -10- 

 
NEGOTIATION, EXECUTION, PERFORMANCE AND ENFORCEMENT OF THIS SPONSOR AGREEMENT, WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE. THE PARTIES AGREE
THAT ANY OF THEM MAY FILE A COPY OF THIS PARAGRAPH WITH ANY COURT AS WRITTEN EVIDENCE OF THE KNOWING, VOLUNTARY AND BARGAINED FOR AGREEMENT AMONG THE PARTIES IRREVOCABLY TO WAIVE TRIAL BY JURY AND THAT ANY ACTION OR PROCEEDING WHATSOEVER BETWEEN
THEM RELATING TO THIS SPONSOR AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY SHALL INSTEAD BE TRIED IN A COURT OF COMPETENT JURISDICTION BY A JUDGE SITTING WITHOUT A JURY. 

3.4 Assignment. This Sponsor Agreement and all of the provisions hereof will be binding upon and inure to the benefit of the parties
hereto and their respective heirs, successors and permitted assigns. Neither this Sponsor Agreement nor any of the rights, interests or obligations hereunder will be assigned (including by operation of law) without the prior written consent of each
of the parties hereto. 
 3.5 Specific Performance. The parties agree that irreparable damage for which monetary damages, even if
available, would not be an adequate remedy, would occur in the event that the parties hereto do not perform the provisions of this Sponsor Agreement in accordance with its specified terms or otherwise breach or threaten to breach such provisions.
The parties acknowledge and agree that the parties hereto shall be entitled, in addition to any other remedy to which they are entitled at law or in equity, to an injunction, specific performance and other equitable relief to prevent breaches or
threatened breaches of this Sponsor Agreement and to enforce specifically the terms and provisions hereof. Without limiting the foregoing, each of the parties agrees that it will not oppose the granting of an injunction, specific performance and
other equitable relief on the basis that (i) there is adequate remedy at law or (ii) an award of specific performance is not an appropriate remedy for any reason at law or in equity. Any party seeking an order or injunction to prevent
breaches or threatened breaches and to enforce specifically the terms and provisions of this Sponsor Agreement shall not be required to provide any bond or other security in connection with any such order or injunction. 

3.6 Amendment. This Sponsor Agreement may not be amended, changed, supplemented, waived or otherwise modified or terminated, except upon
the execution and delivery of a written agreement executed by Parent, the Company and the Sponsor. 
 3.7 Severability. If any
provision of this Sponsor Agreement is held invalid or unenforceable by any court of competent jurisdiction, the other provisions of this Sponsor Agreement will remain in full force and effect. Any provision of this Sponsor Agreement held invalid or
unenforceable only in part or degree will remain in full force and effect to the extent not held invalid or unenforceable. 
 3.8
Notices. All notices and other communications under this Sponsor Agreement shall be in writing and shall be deemed given (a) when delivered personally by hand (with written confirmation of receipt by other than automatic means, whether
electronic or otherwise), (b) when sent by email (with no automated reply, such as an out-of-office notification, no mail undeliverable notification or other rejection
notice) or (c) one (1) Business Day following the day sent by an internationally recognized overnight courier (with written confirmation of receipt), in each case, at the following addresses or e-mail
addresses (or to such other address or e-mail address as a party may have specified by notice given to the other party pursuant to this provision): 

  
 -11- 

			
	 If to Parent:
  

Nebula Caravel Acquisition Corp.

Four Embarcadero Center, Suite 2100

San Francisco, California 94111

	 Attention:
	  	[                 ]
	 Email:
	  	[                 ]
	
	 with a copy (which will not constitute actual or constructive notice) to:

	
	 Simpson Thacher & Bartlett LLP

	 2475 Hanover Street

	 Palo Alto, CA 94304

	 Attention:
	  	[                 ]
		  	[                 ]
	 Email:
	  	[                 ]
		  	[                 ]
	
	 If to the Company:

	
	 A Place for Rover, Inc.

	 711 Capitol Way S., Suite 204,

	 Olympia, WA 98501

	 Attention:
	  	[                 ]
	 Email:
	  	[                 ]
	
	 with a copy (which shall not constitute actual or constructive notice) to:

	
	 Wilson Sonsini Goodrich & Rosati

	 One Market Plaza

	 Spear Tower, Suite 3300

	 San Francisco, CA 94105-1126

	 Attention:
	  	[                 ]
	 Email:
	  	[                 ]
	
	 and

	
	 Wilson Sonsini Goodrich & Rosati

	 701 Fifth Avenue, Suite 5100

	 Seattle, WA 98104

	 Attention:
	  	[                 ]
	 Email:
	  	[                 ]
	
	 If to a Sponsor Party:

	
	 To such Sponsor Party’s address set forth in Schedule I

	 with a copy (which will not constitute actual or constructive notice) to:

	
	 Simpson Thacher & Bartlett LLP

	 2475 Hanover Street

	 Palo Alto, CA 94304

	 Attention:
	  	[                 ]
		  	[                 ]
	 Email:
	  	[                 ]
		  	[                 ]

  
 -12- 

 3.9 Counterparts. This Sponsor Agreement may be executed in two or more counterparts
(any of which may be delivered by electronic transmission), each of which shall constitute an original, and all of which taken together shall constitute one and the same instrument. 

3.10 Entire Agreement. This Sponsor Agreement and the agreements referenced herein constitute the entire agreement and understanding of
the parties hereto in respect of the subject matter hereof and supersede all prior understandings, agreements or representations by or among the parties hereto to the extent they relate in any way to the subject matter hereof. 

[Remainder of page intentionally left blank] 

  
 -13- 

 IN WITNESS WHEREOF, the Sponsor Parties, Parent, and the Company have each caused this
Sponsor Support Agreement to be duly executed as of the date first written above. 
  

			
	SPONSOR PARTIES:
	
	NEBULA CARAVEL HOLDINGS, LLC
		
	By:	 	 /s/ Adam H. Clammer

		 	Name: Adam H. Clammer, as managing member of Trus Wind Capital GP II, LLC, teh general partner of True Wind Capital II, L.P. and True Wind Capital II-A, L.P., managing member of Nebula Caravel Holdings, KKC
	
	 /s/ Adam H. Clammer

	Name:	 	Adam H. Clammer
	
	 /s/ James H. Greene, Jr.

	Name:	 	James H. Greene, Jr.
	
	 /s/ Rufina Adams

	Name:	 	Rufina Adams
	
	 /s/ David Kerko

	Name:	 	David Kerko
	
	 /s/ Scott Wagner

	Name:	 	Scott Wagner
	
	 /s/ Darren Thompson

	Name:	 	Darren Thompson
	
	 /s/ Alexi A. Wellman

	Name:	 	Alexi A. Wellman
	
	 /s/ Brandon Van Buren

	Name:	 	Brandon Van Buren

 [Signature Page to Sponsor Support Agreement] 

 
			
	PARENT:
	
	NEBULA CARAVEL ACQUISITION CORP.
		
	By:	 	 /s/ Adam H. Clammer

		 	Name: Adam H. Clammer
		 	Title: Executive Chief Officer

  
 [Signature Page to
Sponsor Support Agreement] 

 
			
	COMPANY:
	
	A PLACE FOR ROVER, INC.
		
	By:	 	 /s/ Aaron Easterly

		 	Name: Aaron Easterly
		 	Title: Chief Executive Officer

  
 [Signature Page to
Sponsor Support Agreement] 

 Schedule I 

Sponsor Party Parent Common Shares and Parent Warrants 
  

									
	 Sponsor Party
	  	Parent Common Shares	 	 	Parent Warrants	 
	 Nebula Caravel Holdings, LLC

c/o Four Embarcadero Center, Suite 2100

San Francisco, California 94111
	  	 	6,775,000	 	 	 	5,166,667	 
	 Adam H. Clammer

c/o Four Embarcadero Center, Suite 2100

San Francisco, California 94111
	  	 	—   	(1) 	 	 	—   	(1) 
	 James H. Greene, Jr.

c/o Four Embarcadero Center, Suite 2100

San Francisco, California 94111
	  	 	—   	(1) 	 	 	—   	(1) 
	 Rufina Adams

c/o Four Embarcadero Center, Suite 2100

San Francisco, California 94111
	  	 	—  	 	 	 	—  	 
	 David Kerko

c/o Four Embarcadero Center, Suite 2100

San Francisco, California 94111
	  	 	25,000	 	 	 	—  	 
	 Scott Wagner

c/o Four Embarcadero Center, Suite 2100

San Francisco, California 94111
	  	 	25,000	 	 	 	—  	 
	 Darren Thompson

c/o Four Embarcadero Center, Suite 2100

San Francisco, California 94111
	  	 	25,000	 	 	 	—  	 
	 Alexi A. Wellman

c/o Four Embarcadero Center, Suite 2100

San Francisco, California 94111
	  	 	25,000	 	 	 	—  	 
	 Brandon Van Buren

c/o Four Embarcadero Center, Suite 2100

San Francisco, California 94111
	  	 	—  	 	 	 	—  	 

  

	(1) 	 Nebula Caravel Holdings, LLC is the record holder of the shares reported herein. True Wind Capital II is the
managing member of Nebula Caravel Holdings, LLC. Mr. Greene and Mr. Clammer are the managing members of True Wind Capital GP II, LLC, the General Partner of True Wind Capital II. As such, they may be deemed to have or share beneficial
ownership of the Class B Common Stock held directly by Nebula Caravel Holdings, LLC. Each such person disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest they may have therein, directly
or indirectly. 

  

  
 [Schedule I to Sponsor
Support Agreement]

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