Document:

Exhibit 10.19

 

EXECUTION VERSION

 

SERVICE AGREEMENT

 

THIS SERVICE AGREEMENT (this
 “Agreement”), made this 11th day of June, 2020, is entered into by Xilio Therapeutics Inc., a Delaware corporation
(the “Company”), and Daniel S. Lynch (the “Director”).

 

INTRODUCTION

 

The Company and the Director
desire to establish the terms and conditions under which the Director will serve as the Chairman of the boards of directors of the Company
Entities (as defined below).

 

It is anticipated that on
or about June 30, 2020, the Company and its parent company, Xilio Therapeutics LLC (the “LLC Parent”), will undergo
a restructuring pursuant to which a wholly owned subsidiary of a corporation newly formed under the laws of Delaware (such newly formed
corporation, the “Ultimate Corporate Parent”) will be merged with and into the LLC Parent, with the LLC Parent becoming
a wholly owned subsidiary of the Ultimate Corporate Parent and the current equityholders of the LLC Parent receiving in such transaction
shares of capital stock of the Ultimate Corporate Parent (the “Restructuring”).

 

In consideration of the mutual
covenants and promises contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged
by the parties hereto, the parties agree as follows:

 

1.            Services. The Director agrees to serve as Chairman of the Boards (as defined below) and
to provide related advisory and oversight services to and for the Company as may be reasonably requested from time to time by the Boards,
the Company, the LLC Parent and, following the effectiveness of the Restructuring, the Ultimate Corporate Parent relating to their ongoing
operations and strategic matters. Such services shall be performed at such times and places as shall be mutually agreed to by the Company
and the Director. The Company agrees to cause the Director (a) to be elected, promptly after the execution and delivery of this Agreement,
to (i) the Board of Directors (as defined in the Fourth Amended and Restated Limited Liability Company Agreement of the LLC Parent, dated
as of December 12, 2019, as amended to date) of the LLC Parent (the “LLC Parent Board”), (ii) the Board of Directors
of the Company (the “Company Board”), (iii) upon the effectiveness of the Restructuring, the Board of Directors of
the Ultimate Corporate Parent (the “Ultimate Corporate Parent Board”, and together with the LLC Parent Board and the
Company Board, the “Boards”) and (iv) the Compensation Committee of whichever of the LLC Parent Board, the Company
Board or the Ultimate Corporate Parent Board that, from time to time, has a committee that principally makes compensation decisions with
respect to the Company Entities (such committee, the “Compensation Committee”) and (b) to be appointed as Chairman
of the LLC Parent Board, Chairman of the Company Board, Chairman of the Compensation Committee and, upon the effectiveness of the Restructuring,
Chairman of the Ultimate Corporate Parent Board, and the Director agrees to serve in such capacities. The Director shall serve as Chairman
of the LLC Parent Board, the Company Board and, from and after the effectiveness of the Restructuring, the Ultimate Corporate Parent Board,
in each case until his resignation, retirement or removal as Chairman of the applicable Board in accordance with the bylaws or organizational
documents that are then applicable to such entity. 

 

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2.            
Term. This Agreement shall commence on the date hereof and shall continue until terminated
in accordance with the provisions of Section 4 (the “Service Period”).

 

3.            
Compensation.

 

3.1    
Director Fees. During the Service Period, the Company shall pay to the Director fees for his service as a director of $20,833.33
per month ($250,000 on an annual basis (the “Cash Compensation”)), payable in arrears on the last day of each month.
Payment for any partial month during the Service Period shall be prorated. The Company and the Director acknowledge and agree that the
Cash Compensation shall be for the Director’s service as a director.

 

3.2    
Equity Compensation.

 

(a)          
Initial Equity Grant. As soon as practicable after the effectiveness of the Restructuring, the Ultimate Corporate Parent
shall grant the Director a stock option (the “Initial Option”) for the purchase of 1,280,572 shares of common stock
of the Ultimate Corporate Parent (the “Initial Shares”) at a purchase price per share equal to the fair market value
per share of common stock of the Ultimate Corporate Parent on the date of grant as determined by the Ultimate Corporate Parent Board based
on the results of a Section 409A valuation. The Company hereby represents and warrants that the Initial Shares will represent a one and
one half percent (1.5%) ownership interest in the Ultimate Corporate Parent as of the date of grant (based on the number of shares of
common stock of the Ultimate Corporate Parent then outstanding, assuming the issuance of all shares of capital stock reserved for future
issuance under any stock incentive plan of the Ultimate Corporate Parent, the exercise of all outstanding options, warrants and other
rights to purchase capital stock of the Ultimate Corporate Parent and the conversion of all securities convertible, directly or indirectly,
into common stock of the Ultimate Corporate Parent (the method of such calculation, a “Fully Diluted Basis”)). Subject
to the acceleration provisions set forth in Sections 3.2(c) and 3.5, the Initial Option will vest, starting on the date hereof (the “Vesting
Commencement Date”), at the rate of 1/48th of the Initial Shares for each consecutive month that the Director continues to provide
services to the Ultimate Corporate Parent or any of its parent companies or subsidiaries, including the LLC Parent and the Company (collectively,
the “Company Entities”), from and after the Vesting Commencement Date until the date that is four (4) full years after
the Vesting Commencement Date, at which time, subject to the Director’s continued service, the Initial Option will be fully vested.

 

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(b)           Additional Equity Grants. In addition, for so long as the Director continues to provide services to any Company Entity,
the Ultimate Corporate Parent shall grant the Director one or more additional stock options (the “Additional Options”)
for the purchase of additional shares of common stock of the Ultimate Corporate Parent (the “Additional Shares”) on
the terms and subject to the conditions set forth in this Section 3.2(b). The Ultimate Corporate Parent shall grant the Director an Additional
Option in connection with each issuance by the Ultimate Corporate Parent of any of its equity securities that causes the Initial Shares
and any Additional Shares subject to outstanding Additional Options or issued to the Director pursuant to the exercise of Additional Options
collectively to represent, immediately following such issuance, less than a one and one half percent (1.5%) overall ownership position
in the Ultimate Corporate Parent, calculated on a Fully Diluted Basis (each, a “Dilutive Issuance”). The number of
Additional Shares purchasable pursuant to the Additional Option to be issued in connection with each Dilutive Issuance shall equal the
number of whole shares of common stock of the Ultimate Corporate Parent necessary for the Director to maintain a one and one half percent
(1.5%) overall ownership position in the Ultimate Corporate Parent after such Dilutive Issuance and the grant of such Additional Option
(calculated on a Fully Diluted Basis). The per share exercise price of each Additional Option will be equal to the fair market value of
one share of common stock of the Ultimate Corporate Parent at the time of the grant of such Additional Option. An Additional Option will
be issued concurrently with or as soon as reasonably practicable after each Dilutive Issuance. Subject to the acceleration provisions
set forth in Sections 3.2(c) and 3.5 hereof, each Additional Option will vest over four (4) years, calculated using the Vesting Commencement
Date as the start date of such vesting, at the rate of 1/48th of the applicable Additional Shares for each consecutive month that the
Director continues to provide services to any Company Entity until the date that is four (4) full years after the Vesting Commencement
Date, at which time, subject to the Director’s continued service, such Additional Option will be fully vested. The obligation of
the Ultimate Corporate Parent to grant Additional Options pursuant to this Section 3.2(b) shall terminate immediately prior to the initial
underwritten public offering of the Ultimate Corporate Parent’s common stock pursuant to a registration statement under the Securities
Act of 1933, as amended (an “IPO”).

 

(c)            Acceleration. Notwithstanding the vesting schedules of the Initial Option and any Additional Options, upon an Acceleration
Event (as defined below), the vesting schedule of the Initial Option and any Additional Options shall be accelerated in full and the Initial
Option and any Additional Options shall be immediately exercisable with respect to the full number of Initial Shares and Additional Shares,
respectively. An “Acceleration Event” means, regardless of form thereof, consummation of (a) the sale of all or substantially
all of the assets of the Company Entities on a consolidated basis to an unrelated person or entity, (b) a merger, reorganization or consolidation
in which the outstanding shares of capital stock of the Ultimate Corporate Parent are converted into or exchanged for securities of the
successor entity and the holders of the Ultimate Corporate Parent’s outstanding voting power immediately prior to such transaction
do not own, in substantially the same proportions, a majority of the outstanding voting power of the successor entity immediately upon
completion of such transaction, (c) the sale of all or a majority of the outstanding capital stock of the Ultimate Corporate Parent in
a single transaction or series of related transactions to an unrelated person or entity, (d) any other transaction in which the owners
of the Ultimate Corporate Parent’s outstanding voting power immediately prior to such transaction do not own, in substantially the
same proportions, a majority of the outstanding voting power of the successor entity immediately upon completion of the transaction (the
events described in clauses (a) through (d), a “Sale”) or (e) an IPO in connection with which (i) the Director ceases
to serve as the Chairman of the Ultimate Corporate Parent Board (or, in the event that the Restructuring has not been completed, of the
LLC Parent Board or its successor entity) and (ii) the Ultimate Corporate Parent (or the LLC Parent or its successor entity) does not
offer to engage the Director as an advisor through the date that is four (4) full years after the Vesting Commencement Date on fair and
reasonable terms and in a manner that, if Director were to accept such offer, would result in the Initial Option and any Additional Options
continuing to vest following the Director ceasing to serve as Chairman.

 

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(d)          
No Restructuring. In the event that the Restructuring has not been effected prior to July 15, 2020, on such date the LLC
Parent shall issue a profits interest to the Director that reflects, mutatis mutandis, the terms of the Initial Option set forth
in Section 3.2(a). Further, in the event that the Restructuring has not been effected prior to July 15, 2020, then, following the issuance
of the profits interest that reflects the terms of the Initial Option and for so long as the Restructuring has not become effective, in
connection with each issuance by the LLC Parent of any of its equity securities that would, if such issuance were instead issued by the
Ultimate Corporate Parent after the Restructuring, constitute a Dilutive Issuance, the LLC Parent shall issue a profits interest to the
Director that reflects, mutatis mutandis, the terms of the Additional Option that would have been issued in connection with such
issuance, as set forth in Section 3.2(b). The acceleration provisions set forth in Sections 3.2(c) and 3.5 hereof shall apply to each
profits interest, if any, issued in accordance with this Section 3.2(d).

 

3.3    
Reimbursement of Expenses. The Company shall reimburse the Director for all reasonable, documented, out-of-pocket expenses
incurred or paid by the Director in connection with, or related to, the performance of his duties, responsibilities or services under
this Agreement, including a pro rata portion of Director’s out-of-pocket administrative support expenses and other general business
expenses incurred or paid by the Director generally in connection with his chairman or senior executive positions with the Company Entities
and other companies (determined on the basis of the total number of chairman or senior executive positions from time to time held by the
Director). The Director shall submit to the Company documentation, expense statements and other supporting evidence as the Company may
reasonably request from the Director and an itemized monthly statement of such expenses incurred in the previous month. The Company shall
pay to the Director amounts shown on each such statement within thirty (30) days after receipt thereof. Without limiting the foregoing,
the Company shall pay the reasonable and documented fees and expenses of The Moulton Law Group, PLLC, counsel for the Director, incurred
in connection with the engagement of the Director by the Company and the related equity grants to the Director contemplated herein, not
to exceed $7,500.

 

3.4    
Benefits. The Director shall not be entitled to any benefits, coverages or privileges, including, without limitation, social
security, unemployment, medical or pension payments, made available to employees of the Company.

 

3.5    
Termination Payment and Vesting Acceleration.

 

(a)              
In the event the Director ceases to serve as Chairman of the LLC Parent Board, the Company Board and, if applicable, the Ultimate
Corporate Parent Board, then (i) the Director shall be entitled to Cash Compensation that would have been payable to the Director pursuant
to Section 3.1 during the Post Termination Period (but only to the extent not already paid) (the “Termination Payment”),
which amount shall be paid in a lump sum within fifteen (15) days following the Effective Date, and (ii) the Initial Option and the Additional
Option, if any, that would have vested during the Post Termination Period if the Director has not ceased serving as Chairman of the LLC
Parent Board, the Company Board and, if applicable, the Ultimate Corporate Parent Board shall vest and become exercisable (the “Termination
Accelerated Vesting”).

 

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(b)          
For purposes of this Agreement, “Post Termination Period” shall mean a period immediately following the date
that the Director ceases to serve as Chairman of the LLC Parent Board, the Company Board and, if applicable, the Ultimate Corporate Parent
Board of twelve (12) successive months.

 

4.            
Termination. This Agreement shall automatically terminate upon the date that the Director
ceases to serve as Chairman of the LLC Parent Board, the Company Board and, if applicable, the Ultimate Corporate Parent Board. In the
event of the termination of this Agreement, the Director shall be entitled to (a) (i) payment of his Cash Compensation accrued through
the effective date of such termination, (ii) payment for expenses paid or incurred prior to the effective date of termination and (iii)
payment of the Termination Payment, and (b) the Termination Accelerated Vesting. 

 

5.            
Cooperation. The Director shall use his best efforts in the performance of his obligations
under this Agreement. The Company shall provide such access to its information and property as may be reasonably required in order to
permit the Director to perform his obligations hereunder. The Director shall cooperate with the Company’s personnel and shall observe
all rules, regulations and security requirements of the Company concerning the safety of persons and property.

 

6.            
Proprietary Information and Inventions.

 

6.1    
Proprietary Information.

 

(a)               
The Director acknowledges that his relationship with the Company is one of high trust and confidence and that in the course of
his service to the Company he will have access to and contact with Proprietary Information. The Director will not disclose any Proprietary
Information to any person or entity other than employees of the Company or use the same for any purposes (other than in the performance
of his duties as director of the Company Entities) without written approval by an officer of the Company, either during or after the Service
Period, unless and until such Proprietary Information has become public knowledge without fault by the Director.

 

(b)              
For purposes of this Agreement, “Proprietary Information” shall mean, by way of illustration and not limitation,
all information, whether or not in writing, whether or not patentable and whether or not copyrightable, of a private, secret or confidential
nature, owned, possessed or used by the Company Entities, concerning the Company Entities’ business, business relationships or financial
affairs, including, without limitation, any Invention (as defined below), formula, vendor information, customer information, apparatus,
equipment, trade secret, process, research, report, technical or research data, clinical data, know-how, computer program, software, software
documentation, hardware design, technology, product, processes, methods, techniques, formulas, compounds, projects, developments, marketing
or business plan, forecast, unpublished financial statement, budget, license, price, cost, customer, supplier or personnel information
or employee list that is communicated to, learned of, developed or otherwise acquired by the Director in the course of performing his
service to the Company.

 

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(c)            The Director’s obligations under this Section 6.1 shall not apply to any information that (i) is or becomes known to
the general public under circumstances involving no breach by the Director of the terms of this Section 6.1, (ii) is generally disclosed
to third parties by the Company without restriction on such third parties, or (iii) is approved for release by written authorization
of an officer of the Company.

 

(d)            The Director agrees that all files, documents, letters, memoranda, reports, records, data sketches, drawings, models, laboratory
notebooks, program listings, computer equipment or devices, computer programs or other written, photographic, or other tangible material
containing Proprietary Information, whether created by the Director or others, which shall come into his custody or possession, shall
be and are the exclusive property of the Company to be used by the Director only in the performance of his service to the Company and
shall not be copied or removed from the Company premises except in the pursuit of the business of the Company. All such materials or copies
thereof and all tangible property of the Company in the custody or possession of the Director shall promptly be delivered to the Company,
upon the earlier of (i) a request by the Company or (ii) the termination of this Agreement. After such delivery, the Director
shall not retain any such materials or copies thereof or any such tangible property.

 

(e)            The Director agrees that his obligation not to disclose or to use information and materials of the types set forth in paragraphs
(b) and (d) above, and his obligation to return materials and tangible property set forth in paragraph (d) above extends to such types
of information, materials and tangible property of customers of the Company or suppliers to the Company or other third parties who may
have disclosed or entrusted the same to the Company or to the Director.

 

(f)            The Director acknowledges that any of the Company Entities from time to time may have agreements with other persons or with the
United States Government, or agencies thereof, that impose obligations or restrictions on such party regarding inventions made during
the course of work under such agreements or regarding the confidential nature of such work. The Director agrees to be bound by all such
obligations and restrictions that are known to him and to take all action necessary to discharge the obligations of the Company Entities
under such agreements.

 

6.2    
Inventions.

 

(a)            All inventions, creations, discoveries, computer programs, data, developments, technology, designs, innovations and improvements
(whether or not patentable and whether or not copyrightable) which are made, conceived, reduced to practice, created, written, designed
or developed by the Director, solely or jointly with others or under his direction and whether during normal business hours or otherwise,
(i) during the Service Period if made, conceived, reduced to practice, created, written, designed or developed in the course of Director’s
performance of duties pursuant to this Agreement or (ii) during or after the Service Period if resulting or directly derived from Proprietary
Information (collectively under clauses (i) and (ii), “Inventions”), shall be the sole property of the Company.
The Director hereby assigns and transfers and, to the extent any such assignment cannot be made at present, will assign and transfer,
to the Company all Inventions and any and all related patents, copyrights, trademarks, trade names, and other industrial and intellectual
property rights and applications therefor, in the United States and elsewhere and appoints any officer of the Company as his duly authorized
attorney to execute, file, prosecute and protect the same before any government agency, court or authority.

 

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(b)            Upon the request of the Company and at the Company’s expense, the Director shall execute such further assignments, documents
and other instruments as may be necessary or desirable to fully and completely assign all Inventions to the Company and to assist the
Company in applying for, obtaining and enforcing patents or copyrights or other rights in the United States and in any foreign country
with respect to any Invention. The Director also hereby waives all claims to moral rights in any Inventions.

 

(c)            The Director shall promptly disclose to the Company all Inventions and will maintain adequate and current written records (in the
form of notes, sketches, drawings and as may be specified by the Company) to document the conception and/or first actual reduction to
practice of any Invention. Such written records shall be available to and remain the sole property of the Company at all times.

 

6.3           Remedies. The Director acknowledges that any breach of the provisions of this Section 6 shall result in serious and irreparable
injury to the Company Entities for which such parties cannot be adequately compensated by monetary damages alone. The Director agrees,
therefore, that, in addition to any other remedy it may have, each Company Entity shall be entitled to enforce the specific performance
of this Section 6 by the Director and to seek both temporary and permanent injunctive relief (to the extent permitted by law) without
the necessity of proving actual damages.

 

7.            
Independent Contractor Status. The Director shall perform all services under this Agreement
as an “independent contractor” and not as an employee or agent of the Company. 

 

8.            
Notices. All notices required or permitted under this Agreement shall be in writing and
shall be deemed effective upon personal delivery or three days after deposit in the United States Post Office, by registered or certified
mail (return receipt requested), postage prepaid, addressed to the other party at the address shown above, or at such other address or
addresses as either party shall designate to the other in accordance with this Section 8.

 

9.            
Pronouns. Whenever the context may require, any pronouns used in this Agreement shall include
the corresponding masculine, feminine or neuter forms, and the singular forms of nouns and pronouns shall include the plural, and vice
versa.

 

10.          Entire Agreement. This Agreement constitutes the entire agreement between the parties and
supersedes all prior agreements and understandings, whether written or oral, relating to the subject matter of this Agreement. 

 

11.          Third-Party Beneficiary. Each of the LLC Parent and, following the effectiveness of the
Restructuring, the Ultimate Corporate Parent shall be an express third-party beneficiary of this Agreement.

 

12.          Amendment. This Agreement may be amended or modified only by a written instrument executed
by both the Company and the Director.

 

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13.          Governing Law. This Agreement shall be construed, interpreted and enforced in accordance
with the laws of the Commonwealth of Massachusetts.

 

14.          Successors and Assigns. This Agreement shall be binding upon, and inure to the benefit
of, both parties and their respective successors and assigns, including any corporation with which, or into which, the Company may be
merged or which may succeed to its assets or business, provided, however, that the obligations of the Director are personal and shall
not be assigned by him.

 

15.          Survival. Section 3.5 and Sections 4 through 16 shall survive the expiration or termination
of this Agreement.

 

16.          Miscellaneous.

 

16.1         
No delay or omission by the Company in exercising any right under this Agreement shall operate as a waiver of that or any other
right. A waiver or consent given by the Company on any one occasion shall be effective only in that instance and shall not be construed
as a bar or waiver of any right on any other occasion.

 

16.2         
The captions of the sections of this Agreement are for convenience of reference only and in no way define, limit or affect the
scope or substance of any section of this Agreement.

 

16.3         
In the event that any provision of this Agreement shall be invalid, illegal or otherwise unenforceable, the validity, legality
and enforceability of the remaining provisions shall in no way be affected or impaired thereby.

 

 

[Remainder of Page Intentionally Left Blank]

 

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IN WITNESS WHEREOF, the parties hereto have executed
this Agreement as of the day and year set forth above.

 

	 	XILIO THERAPEUTICS INC.
	 
	 	By:	/s/ René Russo
	 	Name:  René Russo
	 	Title: CEO
	 
	 	DIRECTOR
	 
	 	/s/ Daniel S. Lynch
	 	Daniel S. Lynch

 

[SIGNATURE PAGE TO SERVICE AGREEMENT]

 

     

     

    

 

Amendment No. 1 to

Service Agreement

 

This Amendment No. 1
to Service Agreement, dated October 17, 2021 (this “Amendment”), is entered into by and between Xilio Therapeutics, Inc.,
a Delaware corporation (the “Company” or “Ultimate Corporate Parent”), and Daniel S. Lynch (the
 “Director”), and amends that certain Service Agreement, dated as of June 11, 2020, between the Company and the
Director (the “Agreement”). Capitalized terms used but not otherwise defined herein shall have the meaning given to
them in the Agreement.

 

WHEREAS, effective upon the
Amendment Effective Date (as defined below), the parties desire to amend certain compensation terms in the Agreement;

 

NOW, THEREFORE, in consideration
of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties
hereto, the Company and the Director hereby agree as follows:

 

		1.	Section 3.1 is amended and restated in its entirety as follows:

 

3.1 Director Fees. During the
period beginning on June 11, 2020 and terminating at the Amendment Effective Time (as defined below) (the “Director Fee
Period”), the Company shall pay to the Director fees for his service as a director of $20,833.33 per month ($250,000 on an annual
basis (the “Cash Compensation”)), payable in arrears on the last day of each month. Payment for any partial month during
the Director Fee Period shall be prorated. The Company and the Director acknowledge and agree that the Cash Compensation shall be for
the Director’s service as a director prior to the Amendment Effective Time. For the avoidance of doubt, on and after the Amendment
Effective Time, for so long as the Director serves as a director on the Ultimate Corporate Parent Board, the Director shall be entitled
to cash compensation for such service in accordance with the non-employee director compensation policy then in effect.

 

		2.	Clause (e) of Section 3.2(c) is amended and restated in its entirety as follows:

 

(e) the Director ceasing to serve
as the Chairman of the Ultimate Corporate Parent Board and, in connection with such cessation, the Ultimate Corporate Parent not offering
to engage the Director as an advisor through the date that is four (4) full years after the Vesting Commencement Date on fair and
reasonable terms and in a manner that, if the Director were to accept such offer, would result in the Initial Option and any Additional
Options continuing to vest following the Director ceasing to serve as Chairman (such engagement as an advisor, the “Advisory
Engagement”).

 

     

     

    

 

		3.	Section 3.5 is amended by inserting the following new subsection (c) at the end of Section 3.5:

 

(c)          Notwithstanding
Section 3.5(a) and Section 3.5(b), in the event that the Director ceases to serve as the Chairman of the Ultimate Corporate
Parent Board and the Ultimate Corporate Parent offers, and the Director accepts, the Advisory Engagement, the Director shall not be entitled
to the Termination Accelerated Vesting at the time the Director ceases to serve as the Chairman of the Ultimate Corporate Parent Board
and the Director shall be entitled to the Termination Accelerated Vesting only if and when the Ultimate Corporate Parent terminates the
Advisory Engagement. For such purpose, the Terminated Accelerated Vesting will be the acceleration of the vesting of that portion of the
Initial Option and the Additional Options, if any, that would have vested during the twelve-month period following such termination of
the Advisory Engagement had the Director not ceased serving under the Advisory Engagement during such period.

 

4.            This
Amendment shall be effective immediately prior to, but conditioned upon, the effectiveness of the registration statement on Form S-1
(File No. 333-259973) filed with the U.S. Securities and Exchange Commission in connection with the underwritten initial public offering
of the Company’s common stock (the “Amendment Effective Date”). On and after the Amendment Effective Date, each
reference in the Agreement to “this Agreement,” “hereunder,” “hereof,” “herein” or words
of like import shall mean and be a reference to the Agreement, as amended by this Amendment.

 

5.            Except
as amended hereby, the Agreement shall remain in full force and effect.

 

6.            This
Amendment shall be construed, interpreted and enforced in accordance with the laws of the Commonwealth of Massachusetts.

 

7.            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) 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.

 

[Remainder of Page Intentionally Left Blank]

 

     

     

    

 

IN WITNESS WHEREOF, the parties hereto have executed
this Amendment effective as of the Amendment Effective Date.

 

	 	Xilio Therapeutics, Inc.
	 	 
	 	By:	/s/ René Russo
	 	Name:	René Russo
	 	Title:	President and Chief Executive Officer
	 	 
	 	Director:
	 	 
	 	/s/ Daniel S.
    Lynch
	 	Daniel S. LynchExhibit 10.1

 

FORM OF REGISTRATION RIGHTS AGREEMENT

 

This REGISTRATION RIGHTS AGREEMENT
(this “Agreement”), dated as of [ ], 2021, is made and entered into by and among Okada Manila International, Inc.,
a Philippine corporation (the “Company”), Tiger Resort Asia Ltd., a company incorporated in Hong Kong (“TRA”),
26 Capital Holdings LLC, a Delaware limited liability company (the “Sponsor”) and, together with TRA and any other
Person who hereafter becomes a party to this Agreement pursuant to Section 5.2 hereof, a “Holder” and collectively
the “Holders”), solely for purposes of Section 5.8 hereof, 26 Capital Acquisition Corp., a Delaware corporation
(“SPAC”) and, solely for purposes of Section 5.2 and Section 5.8 hereof (and related definitions), the
individuals identified on the signature pages hereto as the “Insiders” (the “Insiders”). Capitalized terms
used and not otherwise defined herein will have the meanings ascribed to such terms in the Merger and Share Acquisition Agreement (as
defined below).

 

RECITALS

 

WHEREAS, SPAC and the Sponsor have
entered into that certain Registration Rights Agreement, dated as of January 14, 2021 (the “Prior RRA”);

 

WHEREAS, SPAC, the Sponsor and
the Insiders have entered into that certain letter agreement, dated as of January 14, 2021 (the “Insider Letter”);

 

WHEREAS, in connection with the
consummation of the transactions (the “Business Combination”) contemplated by the Agreement and Plan of Merger and
Share Subscription, dated as of October 15, 2021, by and among TRA, the Company, Project Tiger Merger Sub, Inc., a Delaware corporation,
Tiger Resort, Leisure and Entertainment, Inc., a Philippine corporation, and SPAC (the “Merger and Share Acquisition Agreement”),
each of SPAC, the Sponsor and the Insiders, as applicable, desire that, effective upon the Effective Time (as defined below), each of
the Prior RRA and the Insider Letter shall be cancelled and terminated in its entirety and shall be of no further force and effect;

 

WHEREAS, this Agreement is being
executed concurrently with the entry in the Merger and Share Acquisition Agreement and will become effective upon the Effective Time (as
defined below); and

 

WHEREAS, the Company and the Holders
desire to enter into this Agreement, pursuant to which the Company shall grant the Holders certain registration rights with respect to
certain securities of the Company, as set forth in this Agreement.

 

NOW, THEREFORE, in consideration
of premises and the mutual promises contained herein and in the Merger and Share Subscription Agreement, and intending to be legally bound
hereby, the parties hereto agree as follows:

 

     

    

    

 

Article
I

DEFINITIONS

 

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

 

“ADS” means
an American depositary share or receipt of the Company representing one share of Common Stock.

 

“Adverse Disclosure”
means any public disclosure of material non-public information, which disclosure, in the good faith judgment of the Chief Executive Officer
or principal financial officer of the Company, after consultation with U.S. securities counsel to the Company: (a) would be required to
be made in any Registration Statement or Prospectus in order for the applicable Registration Statement or Prospectus not to contain any
untrue statement of a material fact or omit to state a material fact necessary to make the statements contained therein (in the case of
any prospectus and any preliminary prospectus, in the light of the circumstances under which they were made) not misleading; (b) would
not be required to be made at such time if the Registration Statement were not being filed; and (c) the Company has a bona fide
business purpose for not making such information public.

 

“Agreement”
has the meaning given in the preamble hereto.

 

“Board” means
the Board of Directors of the Company.

 

“Commission”
means the U.S. Securities and Exchange Commission.

 

“Common Stock”
means a share of common stock, with par value per share to be set at 0.05 PHP, of the Company.

 

“Company”
has the meaning given in the preamble hereto.

 

“Demand Registration”
has the meaning given in Section 2.1(a).

 

“Demanding Holder”
has the meaning given in Section 2.1(a).

 

“Effective Time”
means the effective time of the Merger.

 

“Exchange Act”
means the U.S. Securities Exchange Act of 1934, as it may be amended from time to time.

 

“Foreign Private Issue”
has the meaning set forth in Rule 3b-4 promulgated under the Exchange Act.

 

“Form F-1”
has the meaning given in Section 2.1(a).

 

“Form F-3”
has the meaning given in Section 2.3.

 

“Insider Letter”
has the meaning given in the recitals hereto.

 

“Insiders”
has the meaning given in the preamble hereto.

 

“Holders”
has the meaning given in the preamble hereto.

 

“Lock-up Period”
means the period beginning on the Effective Time and continuing to and including the date that is the earlier of (a) the one year anniversary
of the Effective Time; (b) the date on which the Stock Price of the ADSs equals or exceeds $12.00 per share (as adjusted for stock splits,
stock dividends, reorganizations, recapitalizations and the like) for any 20 Trading Days within any 30-trading day period commencing
at least 150 days after the Effective Time; or (c) the date on which the Company completes a liquidation, merger, capital stock exchange,
reorganization or other similar transaction that results in all of the Company’s stockholders having the right to exchange their
ADSs or shares of Common Stock for cash, securities or other property.

 

    2

    

    

 

“Maximum Number of
Securities” has the meaning given in Section 2.1(d).

 

“Merger and Share Acquisition
Agreement” has the meaning given in the recitals hereto.

 

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

 

“Permitted Transferees”
means any Person to whom a Holder of Registrable Securities or an Insider is permitted to transfer such Registrable Securities prior to
the expiration of the Lock-up Period or Private Placement Lock-up Period, as the case may be, under this Agreement and any other applicable
agreement between such Person and the Company, and to any transferee thereafter.

 

“Piggyback Registration”
has the meaning given in Section 2.2(a).

 

“Private Placement
Lock-up Period” means, with respect to Private Placement Warrants that are held by the initial purchasers of such Private Placement
Warrants or their Permitted Transferees, and any of the ADSs or shares of Common Stock issued or issuable upon the exercise or conversion
of the Private Placement Warrants and that are held by the initial purchasers of the Private Placement Warrants or their Permitted Transferees,
the period ending 30 days after the Effective Time.

 

“Private Placement
Warrants” means the 7,500,000 warrants purchased from SPAC by the Sponsor in a private placement transaction that occurred simultaneously
with the closing of SPAC’s initial public offering and any Working Capital Warrants.

 

“Pro Rata”
has the meaning given in Section 2.1(d).

 

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

 

“Registrable Security”
means: (a) the Private Placement Warrants (including any ADSs or shares of the Common Stock issued or issuable upon the exercise of any
such Private Placement Warrants); (b) any outstanding share of the Common Stock or any other equity security (including the ADSs or shares
of Common Stock issued or issuable upon the exercise of any other equity security) of the Company held by a Holder as of the Effective
Time or received pursuant to the transactions contemplated by the Merger and Share Acquisition Agreement; and (c) any other equity security
of the Company issued or issuable with respect to any such ADSs or share of the Common Stock described in clauses (a) through (b) by way
of a stock dividend or stock split or in connection with a combination of shares, recapitalization, merger, consolidation or reorganization;
provided that, as to any particular Registrable Security, such securities shall cease to be Registrable Securities when: (i) a
Registration Statement with respect to the sale of such securities shall have become effective under the Securities Act and such securities
shall have been sold, transferred, disposed of or exchanged in accordance with such Registration Statement; (ii) such securities
shall have been otherwise transferred, new certificates for such securities not bearing a legend restricting further transfer shall have
been delivered by the Company and subsequent public distribution of such securities shall not require registration under the Securities
Act; (iii) such securities shall have ceased to be outstanding; (iv) such securities may be sold without registration pursuant
to Rule 144 promulgated under the Securities Act (or any successor rule promulgated thereafter by the Commission) (but with no volume
or other restrictions or limitations); or (v) such securities have been sold to, or through, a broker, dealer or underwriter in a
public distribution or other public securities transaction.

 

    3

    

    

 

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

 

“Registration Expenses”
means the out-of-pocket expenses of a Registration, including the following:

 

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

 

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

 

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

 

(d) reasonable
fees and disbursements of counsel for the Company;

 

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

 

(f) reasonable
fees and expenses of one legal counsel selected by the majority-in-interest of the Demanding Holders initiating a Demand Registration
to be registered for offer and sale in the applicable Registration.

 

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

 

“Requesting Holder”
has the meaning given in Section 2.1(a).

 

“Securities Act”
means the U.S. Securities Act of 1933, as amended from time to time.

 

“Sponsor”
has the meaning given in the preamble hereto.

 

“Sponsor Registrable
Securities” means the Registrable Securities held by the Sponsor and its Permitted Transferees.

 

“Stock Price”
means the volume-weighted average closing price of one ADS reported as of 4:00 p.m., New York, New York time on any Trading Day after
the Effective Time, as reported by Bloomberg Financial L.P. using the AQR function (or, if not reported there in another authoritative
source selected by the Board.

 

“TRA Registrable Securities”
means the Registrable Securities held by TRA and its Permitted Transferees.

 

“Trading Day”
means any day on which ADSs are tradeable on the principal securities exchange or securities market on which ADSs are then traded.

 

    4

    

    

 

“Transfer”
means the: (a) sale of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase or otherwise
dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation with respect to or decrease
of a call equivalent position within the meaning of Section 16 of the Exchange Act, and the rules and regulations of the Commission promulgated
thereunder, with respect to any Registrable Security; (b) entry into any swap or other arrangement that transfers to another, in whole
or in part, any of the economic consequences of ownership of any Registrable Security, whether any such transaction is to be settled by
delivery of such securities, in cash or otherwise; or (c) public announcement of any intention to effect any transaction specified in
clause (a) or (b).

 

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

 

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

 

“Working Capital Warrants”
means up to $1,500,000 of Working Capital Loans that are convertible into warrants at a price of $1.00 per warrant.

 

Article
II

REGISTRATIONS

 

Section 2.1 Demand
Registration.

 

(a) Request
for Registration. Subject to the provisions of Section 2.1(d) and Section 2.4 hereof, at any time and from time to time
on or after the Effective Time, the Holders of at least a majority in interest of the then-outstanding number of (i) the Sponsor Registrable
Securities or (ii) the TRA Registrable Securities (in either case, as applicable, the “Demanding Holders”) may make
a written demand for Registration of all or part of their Registrable Securities, which written demand shall describe the amount and type
of securities to be included in such Registration and the intended method(s) of distribution thereof (such written demand a “Demand
Registration”). The Company shall, within 10 days of the Company’s receipt of the Demand Registration, notify, in writing,
all other Holders of Registrable Securities of such demand, and each Holder of Registrable Securities who thereafter wishes to include
all or a portion of such Holder’s Registrable Securities in a Registration pursuant to a Demand Registration (each such Holder that
includes all or a portion of such Holder’s Registrable Securities in such Registration, a “Requesting Holder”)
shall so notify the Company, in writing, within five days after the receipt by the Holder of the notice from the Company. Upon receipt
by the Company of any such written notification from a Requesting Holder(s) to the Company, such Requesting Holder(s) shall be entitled
to have their Registrable Securities included in a Registration pursuant to a Demand Registration and the Company shall effect, as soon
thereafter as practicable, but not more than 45 days immediately after the Company’s receipt of the Demand Registration, the Registration
of all Registrable Securities requested by the Demanding Holders and Requesting Holders pursuant to such Demand Registration. Under no
circumstances shall the Company be obligated to effect more than an aggregate of three Registrations pursuant to a Demand Registration
made by the Holders of the Sponsor Registrable Securities under this Section 2.1(a) with respect to any or all of their Registrable
Securities; provided that a Registration shall not be counted for such purposes unless a Form F-1 or any similar long-form
registration statement that may be available at such time (“Form F-1”) has become effective and all of the Registrable
Securities requested by the Requesting Holders to be registered on behalf of the Requesting Holders in such Form F-1 Registration have
been sold, in accordance with Section 3.1 of this Agreement; and, provided, further, that, for purposes of clarity,
there is no limit on the number of Demand Registrations that that can be made by the Holders of TRA Registrable Securities.

 

(b) Effective
Registration. Notwithstanding the provisions of Section 2.1(a) above or any other part of this Agreement, a Registration pursuant
to a Demand Registration shall not count as a Registration unless and until (i) the Registration Statement filed with the Commission with
respect to a Registration pursuant to a Demand Registration has been declared effective by the Commission and (ii) the Company has complied
with all of its obligations under this Agreement with respect thereto; provided that if, after such Registration Statement
has been declared effective, an offering of Registrable Securities in a Registration pursuant to a Demand Registration is subsequently
interfered with by any stop order or injunction of the Commission, federal or state court or any other governmental agency the Registration
Statement with respect to such Registration shall be deemed not to have been declared effective, unless and until, (A) such stop order
or injunction is removed, rescinded or otherwise terminated, and (B) a majority-in-interest of the Demanding Holders initiating such Demand
Registration thereafter affirmatively elect to continue with such Registration and accordingly notify the Company in writing, but in no
event later than five days, of such election; and provided, further, that the Company shall not be obligated or required
to file another Registration Statement until the Registration Statement that has been previously filed with respect to a Registration
pursuant to a Demand Registration becomes effective or is subsequently terminated.

 

    5

    

    

 

(c) Underwritten
Offering. Subject to the provisions of Section 2.1(d) and Section 2.4 hereof, if a majority-in-interest of the applicable
Demanding Holders so advise the Company as part of their Demand Registration that the offering of the Registrable Securities pursuant
to such Demand Registration shall be in the form of an Underwritten Offering, then the right of such Demanding Holder or Requesting Holder
(if any) to include its Registrable Securities in such Registration shall be conditioned upon such Holder’s participation in such
Underwritten Offering and the inclusion of such Holder’s Registrable Securities in such Underwritten Offering to the extent provided
herein. All such Holders proposing to distribute their Registrable Securities through an Underwritten Offering under this Section 2.1(c)
shall enter into an underwriting agreement in customary form with the Underwriter(s) selected for such Underwritten Offering by the majority-in-interest
of the Demanding Holders initiating the Demand Registration and approved by the Company (such approval not to be unreasonably withheld,
conditioned or delayed).

 

(d) Reduction
of Underwritten Offering. If the managing Underwriter or Underwriters in an Underwritten Registration pursuant to a Demand Registration,
in good faith, advises the Company, the applicable Demanding Holders and the Requesting Holders (if any) in writing that the dollar amount
or number of Registrable Securities that such Demanding Holders and the Requesting Holders (if any) desire to sell, taken together with
all other ADSs or Common Stock or other equity securities that the Company desires to sell and the ADSs or Common Stock, if any, as to
which a Registration has been requested pursuant to separate written contractual piggy-back registration rights held by any other stockholders
who desire to sell, exceeds the maximum dollar amount or maximum number of equity securities that can be sold in the Underwritten Offering
without adversely affecting the proposed offering price, the timing, the distribution method, or the probability of success of such offering
(such maximum dollar amount or maximum number of such securities, as applicable, the “Maximum Number of Securities”),
then the Company shall include in such Underwritten Offering, as follows: (i) first, the Registrable Securities of the applicable Demanding
Holders and the Requesting Holders (if any) (pro rata based on the respective number of Registrable Securities that each Demanding
Holder and Requesting Holder (if any) has requested be included in such Underwritten Registration and the aggregate number of Registrable
Securities that the Demanding Holders and Requesting Holders have requested be included in such Underwritten Registration (such proportion
is referred to herein as “Pro Rata”)) that can be sold without exceeding the Maximum Number of Securities; (ii)
second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (i), the Registrable Securities
of Holders (Pro Rata, based on the respective number of Registrable Securities that each Holder has so requested) exercising their rights
to register their Registrable Securities pursuant to Section 2.2(a)hereof, without exceeding the Maximum Number of Securities;
(iii) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (i) and (ii), the ADSs,
Common Stock or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum Number of Securities;
and (iv) fourth, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (i), (ii) and (iii),
the ADSs, Common Stock or other equity securities of other Persons that the Company is obligated to register in a Registration pursuant
to separate written contractual arrangements with such Persons and that can be sold without exceeding the Maximum Number of Securities.

 

(e) Demand
Registration Withdrawal. A majority-in-interest of the Demanding Holders initiating a Demand Registration or a majority-in-interest
of the Requesting Holders (if any), pursuant to a Registration under Section 2.1(a) shall have the right to withdraw from a Registration
pursuant to such Demand Registration for any or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters
(if any) of their intention to withdraw from such Registration prior to the effectiveness of the Registration Statement filed with the
Commission with respect to the Registration of their Registrable Securities pursuant to such Demand Registration. Notwithstanding anything
to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with a Registration
pursuant to a Demand Registration prior to its withdrawal under this Section 2.1(e).

 

    6

    

    

 

Section 2.2 Piggyback
Registration.

 

(a) Piggyback
Rights. If, at any time after the Effective Time, the Company proposes to file a Registration Statement under the Securities Act with
respect to an offering of equity securities, or securities or other obligations exercisable or exchangeable for, or convertible into equity
securities, for its own account or for the account of stockholders of the Company (or by the Company and by the stockholders of the Company,
including pursuant to Section 2.1 hereof), other than a Registration Statement: (i) filed in connection with any employee stock
option or other benefit plan; (ii) for an exchange offer or offering of securities solely to the Company’s existing stockholders;
(iii) for an offering of debt that is convertible into equity securities of the Company; or (iv) for a dividend reinvestment plan, then
the Company shall give written notice of such proposed filing to all of the Holders of Registrable Securities as soon as practicable but
not less than 10 days before the anticipated filing date of such Registration Statement, which notice shall (A) describe the amount and
type of securities to be included in such offering, the intended method(s) of distribution, and the name of the proposed managing Underwriter
or Underwriters, if any, in such offering, and (B) offer to all of the Holders of Registrable Securities the opportunity to register the
sale of such number of Registrable Securities as such Holders may request in writing within five days after receipt of such written notice
(such Registration, a “Piggyback Registration”). The Company shall, in good faith, cause such Registrable Securities
to be included in such Piggyback Registration and shall use its best efforts to cause the managing Underwriter or Underwriters of a proposed
Underwritten Offering to permit the Registrable Securities requested by the Holders pursuant to this Section 2.2(a) to be included
in a Piggyback Registration on the same terms and conditions as any similar securities of the Company included in such Registration and
to permit the sale or other disposition of such Registrable Securities in accordance with the intended method(s) of distribution thereof.
All such Holders proposing to distribute their Registrable Securities through an Underwritten Offering under this Section 2.2(a)
shall enter into an underwriting agreement in customary form with the Underwriter(s) selected for such Underwritten Offering by the Company.

 

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

 

(A) if
the Registration is undertaken for the Company’s account, the Company shall include in any such Registration: (I) first, the Common
Stock or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum Number of Securities;
(II) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (I), the Registrable
Securities of Holders exercising their rights to register their Registrable Securities pursuant to Section 2.2(a) hereof, Pro Rata,
which can be sold without exceeding the Maximum Number of Securities; and (III) third, to the extent that the Maximum Number of Securities
has not been reached under the foregoing clauses (I) and (II), the Common Stock, if any, as to which Registration has been requested pursuant
to written contractual piggy-back registration rights of other stockholders of the Company, which can be sold without exceeding the Maximum
Number of Securities; and

 

(B) if
the Registration is pursuant to a request by Persons other than the Holders of Registrable Securities, then the Company shall include
in any such Registration: (I) first, the Common Stock or other equity securities, if any, of such requesting Persons, other than the Holders
of Registrable Securities, which can be sold without exceeding the Maximum Number of Securities; (II) second, to the extent that
the Maximum Number of Securities has not been reached under the foregoing clause (I), the Registrable Securities of Holders exercising
their rights to register their Registrable Securities pursuant to Section 2.2(a), pro rata based on the number of Registrable
Securities that each Holder has requested be included in such Underwritten Registration and the aggregate number of Registrable Securities
that the Holders have requested to be included in such Underwritten Registration, which can be sold without exceeding the Maximum Number
of Securities; (III) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses
(I) and (II), the Common Stock or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum
Number of Securities; and (IV) fourth, to the extent that the Maximum Number of Securities has not been reached under the foregoing
clauses (I), (II) and (III), the Common Stock or other equity securities for the account of other Persons that the Company is obligated
to register pursuant to separate written contractual arrangements with such Persons, which can be sold without exceeding the Maximum Number
of Securities.

 

    7

    

    

 

(c) Piggyback
Registration Withdrawal. Any Holder of Registrable Securities shall have the right to withdraw from a Piggyback Registration for any
or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters (if any) of its intention to withdraw
from such Piggyback Registration prior to the effectiveness of the Registration Statement filed with the Commission with respect to such
Piggyback Registration. The Company (whether on its own good faith determination or as the result of a request for withdrawal by Persons
pursuant to separate written contractual obligations) may withdraw a Registration Statement filed with the Commission in connection with
a Piggyback Registration at any time prior to the effectiveness of such Registration Statement. Notwithstanding anything to the contrary
in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with the Piggyback Registration
prior to its withdrawal under this Section 2.2(c).

 

(d) Unlimited
Piggyback Registration Rights. For purposes of clarity, any Registration effected pursuant to Section 2.2 hereof shall not
be counted as a Registration pursuant to a Demand Registration effected under Section 2.1 hereof.

 

Section 2.3 Registrations on Form F-3.
Any Holder of Registrable Securities may at any time, and from time to time, request in writing that the Company, pursuant to Rule 415
under the Securities Act (or any successor rule promulgated thereafter by the Commission), register the resale of any or all of their
Registrable Securities on Form F-3 or any similar short form registration statement that may be available at such time (“Form F-
3”); provided that the Company shall not be obligated to effect such request through an Underwritten Offering. Within
five days of the Company’s receipt of a written request from a Holder or Holders of Registrable Securities for a Registration on
Form F-3, the Company shall promptly give written notice of the proposed Registration on Form F-3 to all other Holders of Registrable
Securities, and each Holder of Registrable Securities who thereafter wishes to include all or a portion of such Holder’s Registrable
Securities in such Registration on Form F-3 shall so notify the Company, in writing, within 10 days after the receipt by the Holder of
the notice from the Company. As soon as practicable thereafter, but not more than 12 days after the Company’s initial receipt of
such written request for a Registration on Form F-3, the Company shall register all or such portion of such Holder’s Registrable
Securities as are specified in such written request, together with all or such portion of Registrable Securities of any other Holder or
Holders joining in such request as are specified in the written notification given by such Holder or Holders; provided that
the Company shall not be obligated to effect any such Registration pursuant to Section 2.3 hereof if (a) a Form F-3 is not available
for such offering or (b) the Holders of Registrable Securities, together with the Holders of any other equity securities of the Company
entitled to inclusion in such Registration, propose to sell the Registrable Securities and such other equity securities (if any) at any
aggregate price to the public of less than $10,000,000.

 

Section 2.4 Restrictions on Registration
Rights. If: (a) during the period starting with the date 60 days prior to the Company’s good faith estimate of the date of the
filing of, and ending on a date 120 days after the effective date of, a Company initiated Registration, and provided that the Company
has delivered written notice to the Holders prior to receipt of a Demand Registration pursuant to Section 2.1(a) and it continues
to actively employ, in good faith, all reasonable efforts to cause the applicable Registration Statement to become effective; (b)
the Holders have requested an Underwritten Registration and the Company and the Holders are unable to obtain the commitment of underwriters
to firmly underwrite the offer; or (c) in the good faith judgment of the Board such Registration would be seriously detrimental to
the Company and the Board concludes as a result that it is essential to defer the filing of such Registration Statement at such time,
including if such Registration would necessitate the Company to make an Adverse Disclosure, then in each case the Company shall furnish
to such Holders a certificate signed by the Chairman of the Board stating that the filing of such Registration Statement shall be deferred
and stating which of clauses (a), (b) and (c) is applicable. In such event, the Company shall have the right to defer such filing for
a period of not more than 30 days; provided that the Company shall not defer its obligation in this manner more than twice
in any 12-month period, provided, further, that such limitation shall not apply to a deferral under clause (b) above.

 

    8

    

    

 

Article
III

COMPANY PROCEDURES

 

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

 

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

 

(b) prepare
and file with the Commission such amendments and post-effective amendments to the Registration Statement, and such supplements to the
Prospectus, as may be requested by any participating Holder or any Underwriter of Registrable Securities or as may be required by the
rules, regulations or instructions applicable to the registration form used by the Company or by the Securities Act or rules and regulations
thereunder to keep the Registration Statement effective until all Registrable Securities covered by such Registration Statement are sold
in accordance with the intended plan of distribution set forth in such Registration Statement or supplement to the Prospectus;

 

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

 

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

 

(e) cause
all such Registrable Securities to be listed on each securities exchange or automated quotation system on which similar securities issued
by the Company are then listed;

 

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

 

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

 

(h) at
least five days prior to the filing of any Registration Statement or Prospectus or any amendment or supplement to such Registration Statement
or Prospectus or any document that is to be incorporated by reference into such Registration Statement or Prospectus, furnish a copy thereof
to each seller of such Registrable Securities and its counsel, including providing copies promptly upon receipt of any comment letters
received with respect to any such Registration Statement or Prospectus;

 

(i) notify
the Holders at any time when a Prospectus relating to such Registration Statement is required to be delivered under the Securities Act,
of the happening of any event as a result of which the Prospectus included in such Registration Statement, as then in effect, includes
a Misstatement, and then to correct such Misstatement as set forth in Section 3.4 hereof;

 

    9

    

    

 

(j) permit
a representative of the Holders (such representative to be selected by a majority of the participating Holders), the Underwriters, if
any, and any attorney or accountant retained by such Holders or Underwriter to participate, at each such Person’s own expense, in
the preparation of the Registration Statement, and cause the Company’s officers, directors and employees to supply all information
reasonably requested by any such representative, Underwriter, attorney or accountant in connection with the Registration; provided
that such representatives or Underwriters enter into a confidentiality agreement, in form and substance reasonably satisfactory to the
Company, prior to the release or disclosure of any such information; and provided, further, that the Company may not
include the name of any Holder or Underwriter or any information regarding any Holder or Underwriter in any Registration Statement or
Prospectus, any amendment or supplement to such Registration Statement or Prospectus, any document that is to be incorporated by reference
into such Registration Statement or Prospectus, or any response to any comment letter, without the prior written consent of such Holder
or Underwriter and providing each such Holder or Underwriter a reasonable amount of time to review and comment on such applicable document,
which comments the Company shall include unless contrary to applicable Law;

 

(k) obtain
a “cold comfort” letter from the Company’s independent registered public accountants in the event of an Underwritten
Registration which the participating Holders may rely on, in customary form and covering such matters of the type customarily covered
by “cold comfort” letters as the managing Underwriter may reasonably request, and reasonably satisfactory to a majority-in-interest
of the participating Holders;

 

(l) on
the date the Registrable Securities are delivered for sale pursuant to such Registration, obtain an opinion, dated such date, of counsel
representing the Company for the purposes of such Registration, addressed to the Holders, the placement agent or sales agent, if any,
and the Underwriters, if any, covering such legal matters with respect to the Registration in respect of which such opinion is being given
as the Holders, placement agent, sales agent, or Underwriter may reasonably request and as are customarily included in such opinions and
negative assurance letters, and reasonably satisfactory to a majority in interest of the participating Holders;

 

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

 

(n) make
available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least 12 months
beginning with the first day of the Company’s first full calendar quarter after the effective date of the Registration Statement
which satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any successor rule promulgated thereafter
by the Commission);

 

(o) if
the Registration involves the Registration of Registrable Securities involving gross proceeds in excess of $50,000,000, use its reasonable
efforts to make available senior executives of the Company to participate in customary “road show” presentations that may
be reasonably requested by the Underwriter in any Underwritten Offering;

 

(p) if
the Company is no longer a Foreign Private Issuer, the Company shall use commercially reasonable efforts to convert any outstanding Registration
Statement on Form F-1 or Form F-3, as applicable, into a Registration Statement on Form S-1 or Form S-3, as applicable, as soon as practicable
thereafter, but no later than the date that the Company is no longer permitted to make filings as a Foreign Private Issuer (and thereafter
references in this Agreement to Form F-1 or Form F-3 will be read as references to Form S-1 or Form s-3, as applicable); and

 

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

 

Section 3.2 Registration Expenses.
The Registration Expenses of all Registrations shall be borne by the Company. It is acknowledged by the Holders that the Holders shall
bear all incremental selling expenses relating to the sale of Registrable Securities, such as Underwriters’ commissions and discounts,
brokerage fees, Underwriter marketing costs and, other than as set forth in the definition of “Registration Expenses,” all
reasonable fees and expenses of any legal counsel representing the Holders.

 

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

 

Section 3.4 Suspension of Sales;
Adverse Disclosure. Upon receipt of written notice from the Company that a Registration Statement or Prospectus contains a Misstatement,
each of the Holders shall forthwith discontinue disposition of Registrable Securities until it has received copies of a supplemented or
amended Prospectus correcting the Misstatement (it being understood that the Company hereby covenants to prepare and file such supplement
or amendment as soon as practicable after the time of such notice), or until it is advised in writing by the Company that the use of the
Prospectus may be resumed. If the filing, initial effectiveness or continued use of a Registration Statement in respect of any Registration
at any time would require the Company to make an Adverse Disclosure or would require the inclusion in such Registration Statement of financial
statements that are unavailable to the Company for reasons beyond the Company’s control, the Company may, upon giving prompt written
notice of such action to the Holders, delay the filing or initial effectiveness of, or suspend use of, such Registration Statement for
the shortest period of time, but in no event more than 30 days, determined in good faith by the Company to be necessary for such purpose.
In the event the Company exercises its rights under the preceding sentence, the Holders agree to suspend, immediately upon their receipt
of the notice referred to above, their use of the Prospectus relating to any Registration in connection with any sale or offer to sell
Registrable Securities. The Company shall immediately notify the Holders of the expiration of any period during which it exercised its
rights under this Section 3.4.

 

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

 

Article
IV

INDEMNIFICATION AND CONTRIBUTION

 

Section 4.1 Indemnification.

 

(a) The
Company agrees to indemnify, to the extent permitted by Law, each Holder of Registrable Securities, its officers and directors and each
Person who controls such Holder (within the meaning of the Securities Act) against all losses, claims, damages, liabilities and expenses
(including attorneys’ fees) caused by any untrue or alleged untrue statement of material fact contained in any Registration Statement,
Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material
fact required to be stated therein or necessary to make the statements therein not misleading (except insofar as the same are caused by
or contained in any information furnished in writing to the Company by such Holder expressly for use therein) or any violation by the
Company of the Securities Act or the Exchange Act or any rule or regulations promulgated thereunder applicable to the Company and relating
to any action or inaction of the Company in connection therewith. The Company shall indemnify the Underwriters, their officers and directors
and each Person who controls such Underwriters (within the meaning of the Securities Act) to the same extent as provided in the foregoing
with respect to the indemnification of the Holder.

 

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

 

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

 

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

 

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

 

Article
V

MISCELLANEOUS

 

Section 5.1 Notices. Any notice
or communication under this Agreement must be in writing and given by: (a) deposit in the United States mail, addressed to the party to
be notified, postage prepaid and registered or certified with return receipt requested; (b) delivery in person or by courier service providing
evidence of delivery; or (c) transmission by hand delivery, or facsimile. Each notice or communication that is mailed, delivered, or transmitted
in the manner described above shall be deemed sufficiently given, served, sent, and received, in the case of mailed notices, on the third
business day following the date on which it is mailed and, in the case of notices delivered by courier service, hand delivery, or facsimile,
at such time as it is delivered to the addressee (with the delivery receipt or the affidavit of messenger) or at such time as delivery
is refused by the addressee upon presentation. Any notice or communication under this Agreement must be addressed, if to the Company,
to: [●], and, if to any Holder, at such Holder’s address or contact information as set forth in the Company’s books
and records. Any party may change its address for notice at any time and from time to time by written notice to the other parties hereto,
and such change of address shall become effective 30 days after delivery of such notice as provided in this Section 5.1.

 

Section 5.2 Assignment;
Lock-Up; No Third Party Beneficiaries.

 

(a) This
Agreement and the rights, duties and obligations of the Company hereunder may not be assigned or delegated by the Company in whole or
in part.

 

(b) Prior
to the expiration of the Lock-up Period or the Private Placement Lock-up Period, as applicable, no Holder of Sponsor Registrable Securities
or Insider may (i) Transfer any Registrable Securities (including, for the avoidance of doubt, any such securities received pursuant to
the transactions contemplated by the Merger and Share Acquisition Agreement) held by such Person as of the Effective Time or (ii) assign
or delegate such Person’s rights, duties or obligations under this Agreement, in whole or in part, except in connection with a transfer
of Registrable Securities by such Person to a Permitted Transferee (but only if such Permitted Transferee agrees to become bound by the
transfer restrictions set forth in this Agreement). Notwithstanding the foregoing, the following Transfers are permitted: (i) to SPAC’s
current or former officers or directors, any affiliate or family member of any of SPAC’s current or former officers or directors
or any affiliate of the Sponsor or to any member(s) of the Sponsor or any of their affiliates; (ii) in the case of an individual, by gift
to a member of such individual’s immediate family or to a trust, the beneficiary of which is a member of such individual’s
immediate family, an affiliate of such individual or to a charitable organization; (iii) in the case of an individual, by virtue of laws
of descent and distribution upon death of such individual; (iv) in the case of an individual, pursuant to a qualified domestic relations
order; (v) by private sales or transfers made in connection with the consummation of the Business Combination at prices no greater than
the price at which the shares or warrants were originally purchased; or (vi) by virtue of the laws of the State of Delaware or the Sponsor’s
limited liability company agreement upon dissolution of the Sponsor; provided that in each case these permitted transferees must enter
into a written agreement with the Company agreeing to be bound by the transfer restrictions herein. Solely with respect to this Section
5.2(b), a Registrable Security shall continue to be a Registrable Security notwithstanding the provisos contained in the definition of
“Registrable Security” that would otherwise cause such security to cease to qualify.

 

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(c) This
Agreement and the provisions hereof shall be binding upon and shall inure to the benefit of each of the parties and its successors and
the permitted assigns of the Holders, which shall include Permitted Transferees.

 

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

 

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

 

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

 

Section 5.4 Governing Law; Venue;
Waiver of Jury Trial.

 

(a) This
Agreement shall be governed and construed in accordance with the Laws of the State of New York applicable to contracts made and to be
performed in the State of New York (without giving effect to any choice of law or conflict of law provision or rule (whether of the State
of New York or any other jurisdiction) that would cause the application of the Law of any jurisdiction other than the State of New York).

 

(b) Each
of the parties hereto: (i) submits to the exclusive jurisdiction of the United States federal and state courts located in New York County,
New York in any Action arising out of or relating to this Agreement; (ii) agrees that all claims in respect of such action or Action may
be heard and determined in any such court; and (iii) agrees not to bring any Action arising out of or relating to this Agreement in any
other court. Each of the parties hereto waives any defense of inconvenient forum to the maintenance of any action so brought and waives
any bond, surety or other security that might be required of any other party hereto with respect thereto. Each party hereto agrees that
service of summons and complaint or any other process that might be served in any action may be made on such party by sending or delivering
a copy of the process to the party to be served at the address of the party and in the manner provided for the giving of notices in Section
5.1; provided that nothing in this Section 5.4(b) shall affect the right of any party hereto to serve legal process
in any other manner permitted by applicable Law. Each party hereto agrees that a final, non-appealable judgment in any action so brought
shall be conclusive and may be enforced by suit on the judgment or in any other manner provided by Law.

 

(c) EACH
PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION, OR CAUSE
OF ACTION (I) ARISING UNDER THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR (II) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL
TO THE DEALINGS OF THE PARTIES IN RESPECT OF THIS AGREEMENT OR ANY OF THE TRANSACTIONS RELATED HERETO, IN EACH CASE, WHETHER NOW EXISTING
OR HEREAFTER ARISING, AND WHETHER IN CONTRACT, TORT, EQUITY, OR OTHERWISE. EACH PARTY HERETO HEREBY FURTHER AGREES AND CONSENTS THAT ANY
SUCH CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY AND THAT THE PARTIES MAY FILE AN ORIGINAL
COUNTERPART OF A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO TO THE WAIVER OF THEIR
RIGHT TO TRIAL BY JURY.

 

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

 

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Section 5.6 Other Registration
Rights. The Company represents and warrants that no Person, other than a Holder of Registrable Securities, has any right to require
the Company to register any securities of the Company for sale or to include such securities of the Company in any Registration filed
by the Company for the sale of securities for its own account or for the account of any other Person. Further, the Company represents
and warrants that this Agreement supersedes any other registration rights agreement or agreement with similar terms and conditions and
in the event of a conflict between any such agreement or agreements and this Agreement, the terms of this Agreement shall prevail.

 

Section 5.7 Term. This
Agreement shall become effective upon the Effective Time and shall terminate upon the earlier of (i) January 14, 2031 or (ii) the date
as of which (A) all of the Registrable Securities have been sold pursuant to a Registration Statement (but in no event prior to the applicable
period referred to in Section 4(a)(3) of the Securities Act and Rule 174 thereunder (or any successor rule promulgated thereafter by the
Commission)) or (B) the Holders of all Registrable Securities are permitted to sell the Registrable Securities under Rule 144 (or any
similar provision) under the Securities Act without limitation on the amount of securities sold or the manner of sale. The provisions
of Section 3.5 and Article IV shall survive any termination.

 

Section 5.8 Termination of Prior RRA
and Insider Letter. Effective as of the Effective Time, this Agreement shall supersede and replace in its entirety the terms and conditions
of the Prior RRA and the Insider Letter, each of which shall be null and void and of no further force or effect, without any action or
notice on the part of the parties thereto.

 

Section 5.9 Termination of Merger and
Share Acquisition Agreement. In the event that the Merger and Share Acquisition Agreement is terminated in accordance with its terms,
this Agreement shall automatically terminate and be of no further force or effect, except for Article IV and Section 5.1
and Section 5.4, which shall survive such termination.

 

[Signature Page Follows]

 

    14

    

    

 

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

 

	 	COMPANY:  
	 	Okada Manila International, Inc.
	 	 	 
	 	By: 	 
	 	 	Name:  
	 	 	Title:  
	 	 	  
	 	TRA:  
	 	Tiger Resort Asia Ltd.
	 	 
	 	By: 	 
	 	 	Name:  
	 	 	Title:  
	 	 	 
	 	SPONSOR:  
	 	26 Capital Holdings LLC
	 	 	 
	 	By: 	 
	 	 	Name:  
	 	 	Title:  
	 	 	  
	 	SPAC:  
	 	26 Capital Acquisition Corp.
	 	By: 	 
	 	 	Name:  
	 	 	Title:  

 

    15

    

    

 

	 	INSIDERS:
	 	 	 
	 	By:
    	 
	 	 	Name: Jason Ader
	 	 	 
	 	By:  	 
	 	 	Name: John Lewis
	 	 	 
	 	By:	 
	 	 	Name: Rafi Ashkenazi
	 	 	 
	 	By:  	 
	 	 	Name: Gregory S. Lyss
	 	 	 
	 	By:  	 
	 	 	Name: Joseph Kaminkow

 

 

16

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