Document:

Exhibit 10.13

 

REGISTRATION RIGHTS AGREEMENT

 

THIS REGISTRATION RIGHTS AGREEMENT, dated as of
[__], 2021 (as the same may be amended, supplemented or otherwise modified from time to time in accordance with the terms hereof, this
“Agreement”), is made and entered into by and between byNordic Acquisition Corporation, a Delaware corporation
(the “Company”), and Rothesay Investment Sarl SPF (the “Forward Purchaser” and, together
with any person or entity who hereafter becomes a party to this Agreement pursuant to Section 5.2 of this Agreement,
each, a “Holder” and collectively, the “Holders”).

 

RECITALS

 

WHEREAS, the Company was incorporated for
the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination
with one or more businesses (a “Business Combination”);

 

WHEREAS, the Company has filed with the
U.S. Securities and Exchange Commission (the “Commission”) a registration statement on Form S-1 (File No. 333-248488)
for its initial public offering (“IPO”) of 15,000,000 units (or 17,250,000 units if the underwriters’
over-allotment option (the “IPO Over-Allotment Option”) is exercised in full) (the “Public Units”)
at a price of $10.00 per Public Unit, each Public Unit comprised of one share of Class A common stock, par value $0.0001 per share, of
the Company (the “Common Stock”, and the shares of Common Stock included in the Public Units, the “Public
Shares”), and one-half of one redeemable warrant, where each whole redeemable warrant is exercisable to purchase one share
of Common Stock at an exercise price of $11.50 per share, subject to adjustment as described in such registration statement on Form S-1,
and only whole redeemable warrants are exercisable (the “Warrants”, and the Warrants included in the Public
Units, the “Public Warrants”);

 

WHEREAS, proceeds from the IPO and the sale
of the Private Shares in an aggregate amount equal to $153,000,000 (or up to $175,950,000 to the extent that the underwriters of the Offering
exercise their over-allotment option) will be delivered to the Trustee to be deposited and held in a segregated trust account located
at all times in the United for the benefit of the holders of the Public Shares (the “Trust Account”), as described
in the registration statement on Form S-1.

 

WHEREAS, following the closing of the IPO,
the Company will seek to identify and consummate a Business Combination;

 

WHEREAS, the Company and the Forward Purchaser
have entered into the Amended and Restated Forward Purchase Agreement, dated and effective as of July 14, 2021 (as the same may be amended,
supplemented or otherwise modified from time to time in accordance with the terms hereof, the “Forward Purchase Agreement”),
between the Company and the Forward Purchaser, pursuant to which, concurrently with the closing of the Company’s initial Business
Combination (the “Business Combination Closing”), the Company may issue and sell to the Forward Purchaser, and
the Forward Purchaser may purchase from the Company, on a private placement basis, up to a maximum of 1,000,000 shares of Common Stock
(the “Forward Purchase Shares”), for a purchase price of $10.00 per Forward Purchase Share, or $10,000,000 in
the aggregate, subject to the terms and conditions thereof;

 

WHEREAS, the proceeds from the IPO and the
sale of the Private Shares in an aggregate amount equal to $153,000,000 (or up to $177,540,000 to the extent that the underwriters of
the Offering exercise their over-allotment option) will be delivered to the Trustee to be deposited and held in a segregated trust account
located at all times in the United the gross proceeds from the IPO will be deposited into a trust account for the benefit of the holders
of the Public Shares (the “Trust Account”), as described in the registration statement on Form S-1 will be applied to consummate
the Business Combination Closing;

 

     

     

    

 

WHEREAS, the Company and the Forward Purchaser
are entering into this Agreement pursuant to Section 4(a) of the Forward Purchase Agreement, pursuant to which the Forward Purchaser
shall have the registration rights with respect to the Forward Purchase Shares set forth herein in accordance with the terms and conditions
hereof; and

 

WHEREAS, a copy of this Agreement shall
be filed as an exhibit to the registration statement on Form S-1 pursuant to Section 4(a) of the Forward Purchase Agreement.

 

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

 

ARTICLE I

DEFINITIONS

 

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

 

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

 

“Agreement” shall have
the meaning given in the preamble hereto.

 

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

 

“Business Combination”
shall have the meaning given in the recitals hereto.

 

“Business Combination
Closing” shall have the meaning given in the recitals hereto.

 

“Commission” shall have
the meaning given in the recitals hereto.

 

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

 

“Company” shall have
the meaning given in the preamble hereto.

 

“Demand Registration”
shall have the meaning given in subsection 2.1.1.

 

“Demanding Holder”
shall have the meaning given in subsection 2.1.1.

 

“Effectiveness Deadline”
shall have the meaning given in subsection 2.1.1.

 

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

 

“Filing Deadline” shall
have the meaning given in subsection 2.1.1.

 

“Form S-1” shall have
the meaning given in subsection 2.1.1.

 

“Form S-3” shall have
the meaning given in subsection 2.3.

 

“Forward Purchase Shares”
shall have the meaning given in the recitals hereto.

 

    2

     

    

 

“Forward Purchase Shares Agreement”
shall have the meaning given in the recitals hereto.

 

“Forward Purchase Shares Lock-up Period”
shall mean, with respect to the Forward Purchase Shares held by the Forward Purchaser and any Permitted Transferee as the Holder, the
period ending thirty (30) days after the completion of the Company’s initial Business Combination.

 

“Forward Purchaser” shall
have the meaning given in the preamble hereto.

 

“Holder” and “Holders”
shall have the meaning given in the preamble hereto.

 

“IPO” shall have the
meaning given in the recitals hereto.

 

“IPO Over-Allotment Option”
shall have the meaning given in the recitals hereto.

 

“Maximum Number of Securities”
shall have the meaning given in subsection 2.1.4.

 

“Misstatement” shall
mean an untrue statement of a material fact or an omission to state a material fact required to be stated in a Registration Statement
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”
shall mean any person or entity to whom a Holder of Registrable Securities is permitted to transfer such Registrable Securities prior
to the expiration of the Forward Purchase Shares Lock-up Period under the Forward Purchase Agreement, this Agreement and any other applicable
agreement between such Holder and the Company, and to any transferee thereafter.

 

“Piggyback Registration”
shall have the meaning given in subsection 2.2.1.

 

“Private Shares”
shall have the meaning given in the recitals hereto.

 

“Pro Rata” shall have
the meaning given in subsection 2.1.4.

 

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

 

“Public Units shall have the
meaning given in the recitals hereto.

 

“Public Shares” shall
have the meaning given in the recitals hereto.

 

“Registrable Security”
shall mean (a) the Forward Purchase Shares and (b) any other equity security of the Company issued or issuable with respect to any such
Forward Purchase Share by way of a stock dividend or stock split or in connection with a combination of shares, recapitalization, merger,
consolidation or reorganization and any other shares of Common Stock including any other equity security of the Company issued or issuable
with respect to any such share of the Common Stock by way of a stock dividend or stock split or in connection with a combination of shares,
recapitalization, merger, consolidation or reorganization owned by the Holders or their Affiliates; provided, however,
that, as to any particular Registrable Security, such securities shall cease to be Registrable Securities when: (A) 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; (B) 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; (C) such securities shall have ceased
to be outstanding; (D) 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) and such securities
do not bear any restrictive legend; or (E) such securities have been sold to, or through, a broker, dealer or underwriter in a public
distribution or other public securities transaction.

 

    3

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

(E) reasonable 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 (1) 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”
shall mean any registration statement that covers the Registrable Securities pursuant to the provisions of this Agreement, including the
Prospectus included in such registration statement, amendments (including post-effective amendments) and supplements to such registration
statement, and all exhibits to and all material incorporated by reference in such registration statement.

 

“Requesting Holder”
shall have the meaning given in subsection 2.1.1.

 

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

 

“Sponsor” shall have
the meaning given in the recitals hereto.

 

“Trust Account” shall
have the meaning given in the recitals hereto.

 

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

 

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

 

    4

     

    

 

ARTICLE II

REGISTRATIONS

 

2.1 Demand Registration.

 

2.1.1 Request for Registration. Subject
to the provisions of subsection 2.1.4 and Section 2.4 hereof, at any time on or after the date the Company consummates
the initial Business Combination, the Holders of at least a majority in interest of the then-outstanding number of Registrable Securities
(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 ten (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 (5) 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 forty five (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 one (1) Registration pursuant to a Demand Registration under
this subsection 2.1.1 with respect to any or all Registrable Securities; provided, however, that
a Registration shall not be counted for such purposes unless a Form S-1 or any similar long-form registration statement that may be available
at such time (“Form S-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 S-1 Registration have been sold, in accordance with Section
3.1 of this Agreement. Notwithstanding the foregoing, the Company agrees that, within fifteen (15) calendar days following the
date of the initial Business Combination (such deadline, the “Filing Deadline”), the Company will submit to or file
with the Commission a Registration Statement for a shelf registration on Form S-1 or Form S-3 (if the Company is then eligible to use
a Form S-3 shelf registration), in each case, covering the resale of the Registrable Securities by the Holders, and the Company shall
use its commercially reasonable efforts to have the Registration Statement declared effective as soon as practicable after the filing
thereof, but no later than the earlier of (i) the 45th calendar day (or 60th calendar day if the Commission notifies
the Company that it will “review” the Registration Statement) and (ii) the 10th business day after the date Company is notified
(orally or in writing, whichever is earlier) by the Commission that the Registration Statement will not be “reviewed” or will
not be subject to further review (such earlier date, the “Effectiveness Deadline”). The Company will use its commercially
reasonable efforts to provide a draft of the Registration Statement to the Holders for review (but not comment) at least two (2) business
days in advance of filing the Registration Statement; provided that, for the avoidance of doubt, in no event shall the Company be required
to delay or postpone the filing of such Registration Statement as a result of or in connection with the Holders’ review. Unless
otherwise agreed to in writing by the Holders, none of the Holders shall be identified as a statutory underwriter in the Registration
Statement unless requested by the Commission or another regulatory agency; provided, that if the Commission requests that a Holder be
identified as a statutory underwriter in the Registration Statement, the applicable Holder will have the opportunity to withdraw from
the Registration Statement upon its prompt written request to the Company. Notwithstanding the foregoing, if the Commission prevents the
Company from including any or all of the Registrable Securities proposed to be registered under the Registration Statement due to limitations
on the use of Rule 415 of the Securities Act for the resale of the Registrable Securities by the applicable stockholders or otherwise,
such Registration Statement shall register for resale such number of Registrable Securities which is equal to the maximum number of Registrable
Securities as is permitted by the Commission. In such event, the number of Registrable Securities to be registered for each selling stockholder
named in the Registration Statement shall be reduced pro rata among all such selling stockholders and as promptly as practicable after
being permitted to register additional Registrable Securities under Rule 415 under the Securities Act, the Company shall amend the Registration
Statement or file a new Registration Statement to register such Registrable Securities not included in the initial Registration Statement
and cause such amendment or Registration Statement to become effective as promptly as practicable. For as long as the Holder holds Common
Stock, the Company will use commercially reasonable efforts to file all reports for so long as the condition in Rule 144(c)(1) (or Rule
144(i)(2), if applicable) is required to be satisfied, and provide all customary and reasonable cooperation, necessary to enable the undersigned
to resell the Common Stock pursuant to Rule 144 of the Securities Act (in each case, when Rule 144 of the Securities Act becomes available
to the Holder). Any failure by the Company to file the Registration Statement by the Filing Deadline or to effect such Registration Statement
by the Effectiveness Deadline shall not otherwise relieve the Company of its obligations to file or effect the Registration Statement
as set forth above in this Section 2.1.

 

2.1.2 Effective Registration. Notwithstanding
the provisions of subsection 2.1.1 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, further, 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, (i) such stop order or injunction
is removed, rescinded or otherwise terminated, and (ii) 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 (5) 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

     

    

 

2.1.3 Underwritten Offering. Subject
to the provisions of subsection 2.1.4 and Section 2.4 hereof, if a majority-in-interest of the 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 subsection 2.1.3 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.

 

2.1.4 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 Demanding Holders and the Requesting Holders (if any) in writing that the dollar amount or number of Registrable Securities
that the Demanding Holders and the Requesting Holders (if any) desire to sell, taken together with all other Common Stock or other equity
securities that the Company desires to sell and the Common Stock, if any, as to which a Registration has been requested pursuant to separate
written contractual piggy-back registration rights held by any other stockholders who desire to sell, exceeds the maximum dollar amount
or maximum number of equity securities that can be sold in the Underwritten Offering without adversely affecting the proposed offering
price, the timing, the distribution method, or the probability of success of such offering (such maximum dollar amount or maximum number
of such securities, as applicable, the “Maximum Number of Securities”),
then the Company shall include in such Underwritten Offering, as follows: (i) first, the Registrable Securities of the Demanding Holders
and the Requesting Holders (if any) (pro rata based on the respective number of Registrable Securities that each Demanding Holder and
Requesting Holder (if any) has requested be included in such Underwritten Registration and the aggregate number of Registrable Securities
that the Demanding Holders and Requesting Holders have 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 subsection 2.2.1 hereof, 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 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 of other persons or entities that the Company is obligated to register
in a Registration pursuant to separate written contractual arrangements with such persons and that can be sold without exceeding the Maximum
Number of Securities.

 

2.1.5 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 subsection 2.1.1 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 subsection 2.1.5.

 

    6

     

    

 

 

2.2 Piggyback Registration.

 

2.2.1 Piggyback Rights. If, at any
time on or after the date the Company consummates the initial Business Combination, the Company proposes to file a Registration Statement
under the Securities Act with respect to an offering of equity securities, or securities or other obligations exercisable or exchangeable
for, or convertible into equity securities, for its own account or for the account of stockholders of the Company (or by the Company and
by the stockholders of the Company including, without limitation, pursuant to Section 2.1 hereof), other than a Registration
Statement (i) filed in connection with any employee stock option or other benefit plan, (ii) for an exchange offer 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 ten (10) days before the anticipated filing date of such Registration
Statement, which notice shall (A) describe the amount and type of securities to be included in such offering, the intended method(s) of
distribution, and the name of the proposed managing Underwriter or Underwriters, if any, in such offering, and (B) offer to all of the
Holders of Registrable Securities the opportunity to register the sale of such number of Registrable Securities as such Holders may request
in writing within five (5) 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 subsection 2.2.1 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 subsection 2.2.1 shall enter into an underwriting agreement in
customary form with the Underwriter(s) selected for such Underwritten Offering by the Company.

 

2.2.2 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 Common Stock that the Company desires to sell, taken together with (i) the Common Stock, if any, as to which Registration
has been demanded pursuant to separate written contractual arrangements with persons or entities other than the Holders of Registrable
Securities hereunder (ii) the Registrable Securities as to which registration has been requested pursuant to Section 2.2 hereof,
and (iii) the Common Stock, if any, as to which Registration has been requested pursuant to separate written contractual piggy-back registration
rights of other stockholders of the Company, exceeds the Maximum Number of Securities, then:

 

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

 

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

 

    7

     

    

 

2.2.3 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 his, her or 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 subsection 2.2.3.

 

 

2.2.4 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.

 

2.3 Registrations on Form S-3. Any
Holder of Registrable Securities may at any 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
S-3 or any similar short form registration statement that may be available at such time (“Form S-3”); provided, however,
that the Company shall not be obligated to effect such request through an Underwritten Offering. Within five (5) days of the Company’s
receipt of a written request from a Holder or Holders of Registrable Securities for a Registration on Form S-3, the Company shall promptly
give written notice of the proposed Registration on Form S-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
S-3 shall so notify the Company, in writing, within ten (10) days after the receipt by the Holder of the notice from the Company. As soon
as practicable thereafter, but not more than twelve (12) days after the Company’s initial receipt of such written request for a
Registration on Form S-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, however, that the Company
shall not be obligated to effect any such Registration pursuant to Section 2.3 hereof if (i) a Form S-3 is not available
for such offering; or (ii) 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.

 

2.4 Restrictions on Registration Rights.
If (A) during the period starting with the date sixty (60) days prior to the Company’s good faith estimate of the date of the filing
of, and ending on a date one hundred and twenty (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 subsection
2.1.1 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, then in each case the Company shall furnish to such Holders a certificate signed by the Chairman of the Board
stating that in the good faith judgment of the Board it would be seriously detrimental to the Company for such Registration Statement
to be filed in the near future and that it is therefore essential to defer the filing of such Registration Statement. In such event, the
Company shall have the right to defer such filing for a period of not more than thirty (30) days; provided, however,
that the Company shall not defer its obligation in this manner more than once in any 12-month period.

 

    8

     

    

 

ARTICLE III

COMPANY PROCEDURES

 

3.1 General Procedures. If at any time
on or after the date the Company consummates the initial Business Combination 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:

 

3.1.1 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;

 

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

 

3.1.3 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;

 

3.1.4 prior to any public offering of Registrable
Securities, use its best efforts to (i) register or qualify the Registrable Securities covered by the Registration Statement under such
securities or “blue sky” laws of such jurisdictions in the United States as any Holder of Registrable Securities included
in such Registration Statement (in light of their intended plan of distribution) may 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, however, that the Company shall not be required to
qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify or take any action to which it
would be subject to general service of process or taxation in any such jurisdiction where it is not then otherwise so subject;

 

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

 

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

 

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

 

3.1.8 at least five (5) days prior to the filing
of any Registration Statement or Prospectus or any amendment or supplement to such Registration Statement or Prospectus or any document
that is to be incorporated by reference into such Registration Statement or Prospectus, furnish a copy thereof to each seller of such
Registrable Securities and its counsel, including, without limitation, providing copies promptly upon receipt of any comment letters received
with respect to any such Registration Statement or Prospectus;

 

    9

     

    

 

3.1.9 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;

 

3.1.10 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, however, 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, 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;

 

3.1.11 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;

 

3.1.12 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;

 

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

 

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

 

3.1.15 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; and

 

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

 

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

 

    10

     

    

 

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

 

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 thirty (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.

 

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

 

4.1 Indemnification.

 

4.1.1 The Company agrees to indemnify, to the
extent permitted by law, each Holder of Registrable Securities, its officers and directors, each member or shareholder of such Holder,
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. 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.

 

    11

     

    

 

4.1.2 In connection with any Registration Statement
in which a Holder of Registrable Securities is participating, such Holder shall furnish to the Company in writing such information and
affidavits as the Company reasonably requests for use in connection with any such Registration Statement or Prospectus and, to the extent
permitted by law, shall indemnify the Company, its directors and officers and agents and each person who controls the Company (within
the meaning of the Securities Act) against any losses, claims, damages, liabilities and expenses (including without limitation reasonable
attorneys’ fees) resulting from any untrue 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, however, that the obligation
to indemnify shall be several, not joint and several, among such Holders of Registrable Securities, and the liability of each such Holder
of Registrable Securities shall be in proportion to and limited to the net proceeds received by such Holder from the sale of Registrable
Securities pursuant to such Registration Statement. The Holders of Registrable Securities shall indemnify the Underwriters, their officers,
directors and each person who controls such Underwriters (within the meaning of the Securities Act) to the same extent as provided in
the foregoing with respect to indemnification of the Company.

 

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

 

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

 

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

 

    12

     

    

 

ARTICLE V

MISCELLANEOUS

 

5.1 Notices. Any notice or communication
under this Agreement must be in writing and given by (i) deposit in the United States mail, addressed to the party to be notified, postage
prepaid and registered or certified with return receipt requested, (ii) delivery in person or by courier service providing evidence of
delivery, or (iii) transmission by hand delivery, 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: c/o Pir 29, Einar Hansens Esplanad 29, 211 13 Malmö, Sweden, 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 thirty (30) days after delivery
of such notice as provided in this Section 5.1.

 

5.2 Assignment; No Third Party Beneficiaries.

 

5.2.1 Except as provided under this Section
5, 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.

 

5.2.2 Prior to the expiration of the Forward
Purchase Shares Lock-up Period, no Holder may assign or delegate such Holder’s rights, duties or obligations under this Agreement,
in whole or in part, except in connection with a transfer of Registrable Securities by such Holder to a Permitted Transferee but only
if such Permitted Transferee agrees to become bound by the transfer restrictions set forth in this Agreement.

 

5.2.3 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.

 

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

 

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

 

5.3 Counterparts. This Agreement may
be executed simultaneously in two or more counterparts, none of which needs to contain the signatures of more than one party, but all
such counterparts taken together shall constitute one and the same agreement. In the event that any signature is delivered by facsimile
transmission or by e-mail delivery of a “pdf” format data file, such signature shall create a valid and binding obligation
of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf”
signature page were an original thereof.

 

5.4 Governing Law; Venue; Waiver of Jury
Trial. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT
GIVING EFFECT TO CONFLICTS OF LAW PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF THE SUBSTANTIVE LAWS OF ANOTHER JURISDICTION. THE
PARTIES HERETO (I) ALL AGREE THAT ANY ACTION, PROCEEDING, CLAIM OR DISPUTE ARISING OUT OF, OR RELATING IN ANY WAY TO, THIS AGREEMENT SHALL
BE BROUGHT AND ENFORCED IN THE COURTS OF NEW YORK CITY, IN THE STATE OF NEW YORK, AND IRREVOCABLY SUBMIT TO SUCH JURISDICTION AND VENUE,
WHICH JURISDICTION AND VENUE SHALL BE EXCLUSIVE AND (II) WAIVE ANY OBJECTION TO SUCH EXCLUSIVE JURISDICTION AND VENUE OR THAT SUCH COURTS
REPRESENT AN INCONVENIENT FORUM. THE PARTIES HERETO HEREBY WAIVE ANY RIGHT TO A JURY TRIAL IN CONNECTION WITH ANY LITIGATION PURSUANT
TO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY.

 

    13

     

    

 

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

 

5.6 Other Registration Rights. The Company represents and warrants that no person, other than a Holder
of Registrable Securities, 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 other than the holders of the securities of the Company under the Amended and Restated Registration Rights Agreement,
dated as of [ ], 2021 (the “byNordic Holdings Registration Rights Agreement”), by and among the Company, byNordic
Holdings LLC, a Delaware limited liability company, byNordic Holdings II LLC, a Delaware limited liability company, the Sponsor and the
other parties identified therein. Further, the Company represents and warrants that this Agreement supersedes any other registration rights
agreement or agreement with similar terms and conditions other than the byNordic Holdings Registration Rights Agreement and in the event
of a conflict between any such agreement or agreements other than the byNordic Holdings Registration Rights Agreement (which will only
apply to the securities of the Company identified therein) and this Agreement, the terms of this Agreement shall prevail.

 

5.7 Term. This Agreement shall terminate
upon the earlier of (i) the tenth anniversary of the date of this Agreement 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.

 

[Signature Page Follows]

 

    14

     

    

 

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

 

	 	COMPANY:
	 	 
	 	BYNORDIC ACQUISITION CORPORATION
	 	 	 
	 	By:	 
	 	 	Name: 	Michael Hermansson
	 	 	Title:	Chief Executive Officer
	 	 
	 	FORWARD PURCHASER:
	 	 
	 	ROTHESAY INVESTMENT SARL SPF
	 	 	 
	 	By:	 
	 	 	Name: 
	 	 	Title:  

 

[Signature Page to Registration Rights Agreement]Exhibit 4.3

 

AY DEE KAY, LLC

PHANTOM EQUITY PLAN

 

1. PURPOSES
OF THE PLAN. This Phantom Equity Plan (the “Plan”) of Ay Dee Kay, LLC, a California limited liability company (the
“Company”) is adopted by the Board of Directors of the Company (the “Company Board”) on December
14, 2020 (the “Effective Date”) for the purpose of attracting and retaining the best available personnel for positions
of substantial responsibility, providing additional incentives to key employees and consultants, and promoting the success of the Company’s
business. The Plan provides for the award of Phantom Units.

 

2. DEFINITIONS.
As used herein, defined terms shall have the definitions provided below or in Section 1 of the Plan:

 

2.1 “Affiliate”
means, as to any Person, any other Person which directly or indirectly controls, or is under common control with, or is controlled by,
such Person. As used in this definition, “control” (including, with its correlative meanings, “controlled by”
and “under common control with”) shall mean possession, directly or indirectly, of power to direct or cause the direction
of management or policies (whether through ownership of securities or partnership or other ownership interests, by contract or otherwise).

 

2.2 “Applicable
Law” means the requirements relating to or implicated by the issuance and administration of equity or phantom equity plans under
the applicable states’ corporate laws and federal and state securities laws of the United States of America, the Code and the applicable
laws of any foreign country or jurisdiction where Awards are granted under the Plan.

 

 2.3 “Award” means an award of Phantom Units.

 

2.4 “Award
Agreement” means a written agreement between Company and a Service Provider evidencing the terms and conditions of an Award.
The Award Agreement shall be subject to the terms and conditions of the Plan.

 

2.5 “Cause”
means: (1) Service Provider’s repeated failure, in the reasonable judgment of the Company Board, President or Chief Executive
Officer, to substantially perform his or her assigned duties or responsibilities as a Service Provider, as directed or assigned by
the Company Board, President or Chief Executive Officer (other than a failure resulting from the Service Provider’s
Disability) after written notice thereof from the Company Board, President or Chief Executive Officer to the Service Provider
describing in reasonable detail the Service Provider’s failure to perform such duties or responsibilities and his failure to
remedy same within 30 days of receiving written notice; (2) the Service Provider engaging in knowing and intentional illegal conduct
that was, is, or is reasonably likely to become materially injurious to the Company, Pubco or its Affiliates; (3) the Service
Provider’s violation of a federal or state law or regulation directly or indirectly applicable to the business of the Company
or Pubco or its Affiliates, which violation was or is reasonably likely to be or become injurious to the Company, Pubco or its
Affiliates; (4) the Service Provider’s material breach of the terms of any confidentiality agreement or invention assignment
agreement between the Service Provider and the Company (or any Affiliate of the Company); or (5) the Service Provider being
convicted of, or entering a plea of nolo contendere to, a felony or committing any act of moral turpitude, dishonesty or fraud
against, or the misappropriation of material property belonging to, the Company, Pubco or its Affiliates.

 

    1

    

    

 

2.6 “Class
A Units” means the class of units in the Company which represent the ownership interest of a member of the Company.

 

2.7 “Closing
of the Transaction” means the consummation of the transaction contemplated under the MTA.

 

2.8 “Code”
means the Internal Revenue Code of 1986, as amended, or any successor statute or statutes thereto. Reference to any particular Code section
shall include any successor section and any Treasury regulations or authorities promulgated thereunder.

 

2.9 “Committee”
means a committee appointed by the Company Board or, after the Closing of the Transaction, the Pubco Board in accordance with Section
3.

 

2.10 “Common
Stock” means the Class A Shares of Thunder Bridge II Surviving Pubco, Inc., par value $0.0001 per share.

 

2.11 “Company
Board” means the Board of Directors of the Company or any successor thereof.

 

2.12 “Consultant” means an
individual who performs bona fide services for the Company.

 

2.13 “Disability” means
the inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment
which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than six
(6) months. The Company may require such proof of Disability as the Company in its sole discretion deems appropriate and the
Company’s good faith determination as to whether a Disability exists will be final and binding on Service Provider.

 

2.14 “MTA”
means that certain Master Transaction Agreement, dated as of December 14, 2020 (as may be amended from time to time, the “MTA”),
by and among Pubco, Thunder Bridge Acquisition II, Ltd., a Cayman Islands exempted company, ADK Merger Sub LLC, a Delaware limited liability
company and wholly-owned subsidiary of Pubco, the Company and certain other persons party thereto, pursuant to which, on the Closing (as
defined in the MTA), Pubco, ADK Merger Sub and the Company intend to effect a merger of ADK Merger Sub LLC with and into the Company,
upon which ADK Merger Sub LLC will cease to exist, the Company will be the surviving limited liability company and a subsidiary of Surviving
Pubco, and the Company equity holders will receive consideration described in the MTA.

 

2.15 “Person”
means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock company, a trust, a joint
venture, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof.

 

    2

    

    

 

2.16 “Phantom
Units” means an Award of phantom equity interests granted pursuant to Section 5 hereof.

 

2.17 “Pubco” means Thunder
Bridge II Surviving Pubco, Inc., a Delaware corporation.

 

 2.18 “Service” means service as an Employee or Consultant.

 

2.19 Service Provider” means an
Employee or Consultant of the Company or a Subsidiary of the Company.

 

2.20 “Subsidiary”
means, any corporation or other entity in an unbroken chain of corporations or other entities, beginning with the Company, in which each
corporation or other entity (except for the last in the chain) has a controlling interest in another corporation or other entity in the
chain. For this purpose, the term “controlling interest” means at least 50% of the total combined voting power of all classes
of stock entitled to vote in a corporation or at least 50% of the combined profits or capital interests of a partnership.

 

 3. ADMINISTRATION OF THE PLAN.

 

3.1 Committee.
The Plan shall be administered by the Committee which shall be the Company Board or such other Person or Persons to which administration
of the Plan may be delegated by the Company Board. The Company Board shall appoint and remove members of the Committee in its sole discretion
in accordance with Applicable Laws. Subject to the limitations under the Plan, the Committee shall have the sole and complete discretion
to: (i) select eligible Service Providers to receive Awards under the Plan, (ii) grant Awards in such forms and amounts as it shall determine,
(iii) impose such limitations, restrictions and conditions upon such Awards as it shall deem appropriate, (iv) interpret the Plan and
adopt, amend and rescind administrative guidelines and other rules and regulations relating to the Plan, (v) correct any defect or omission
or reconcile any inconsistency in the Plan or in any Award Agreement and (vi) make all other determinations and take all other actions
necessary or advisable for the implementation and administration of the Plan. The Committee’s determinations shall be final, conclusive
and binding upon the Service Providers, the Company and all other Persons. All expenses associated with the administration of the Plan
shall be borne by the Company. The Committee may delegate any of its authority hereunder to such Persons as it deems appropriate.

 

3.2 Compliance
with Code Section 409A. Notwithstanding any other provision of the Plan, the Committee shall have no authority to issue an Award under
the Plan under terms and conditions which would cause such Award to be subject to penalty taxes under the provisions of Code Section 409A.
Any Award providing for any deferral feature constituting a deferral of compensation under Code Section 409A is intended to be structured
to come within an exemption or comply with the requirements of Code Section 409A and shall be interpreted accordingly. It is the intent
that the Plan and all Award Agreements be interpreted to be exempt from or comply in all respects with Code Section 409A, however, the
Company shall have no liability to any Service Provider or other party in the event taxes or penalty taxes may ultimately be determined
to apply to any Award under the Plan.

 

3.3 Limitation
of Liability. No member of the Company Board, Pubco Board or Committee shall have any liability whatsoever in connection with the
administration of the Plan, except in the case of such member’s willful misconduct. Under no circumstances shall any member of the
Company Board, Pubco Board or Committee be liable for any act or omission of any other member of the Company Board, Pubco Board or Committee.
In the performance of its functions with respect to the Plan, the Company Board, Pubco Board and Committee shall be entitled to rely upon
information and advice furnished by Company’s officers, accountants, legal counsel and any other qualified consultant the Company
Board, Pubco Board or Committee determines it is necessary to consult with for proper administration of the Plan, and no member of the
Company Board, Pubco Board or Committee shall be liable for any action taken or not taken in reliance upon any such advice.

 

    3

    

    

 

4.
ELIGIBILITY.

 

4.1 Eligible
Persons. Awards may be granted to any Service Provider determined to be key to the financial success of the Company as determined
in the complete and sole discretion of the Committee.

 

4.2 Administrative
Discretion. If otherwise eligible, a Service Provider who has been granted an Award may be granted additional Awards. In exercising
its authority to set the terms and conditions of Awards, and subject only to the limits of Applicable Law, the Committee shall be under
no obligation or duty to treat similarly situated Service Providers in the same manner, and any action taken by the Committee with respect
to one Service Provider shall in no way obligate the Committee to take the same or similar action with respect to any other Service Provider.

 

5.
PHANTOM EQUITY SHARE AWARDS.

 

5.1 Grant.
The Committee may grant Awards of Phantom Units entitling recipients to receive, upon the Closing of the Transaction, and subject to vesting
as provided in an Award Agreement, a specified number of shares of Common Stock or cash equivalent to the fair market value of a specified
number of shares of Common Stock at the end of a vesting period, as the Committee may determine, in its sole discretion. An account shall
be established on the books and records of the Company to which the number of Phantom Units so granted to a Service Provider shall be
credited (the “Service Provider’s Account”).

 

5.2 Award
Agreement. Phantom Units shall be granted under an Award Agreement which shall include the terms and conditions of the Award, including
any applicable vesting conditions.

 

5.3 Withholding.
The Committee may require a Service Provider to pay or otherwise provide for any applicable withholding of income and/or payroll taxes
determined by the Committee to be due by reason of vesting, distributions or payments associated with Phantom Units or may take such
other actions as are deemed necessary or appropriate to permit the Company or any affiliate of the Company to comply with applicable
tax withholding requirements, including, but not limited to, taking the required withholding from other compensation payable to the Service
Provider or withholding shares of Common Stock that would otherwise be issued on settlement of the Service Provider’s vested Phantom
Units..

 

    4

    

    

 

5.4 Adjustments.
In the event of a reclassification, recapitalization, equity split, in-kind dividend, combination of equity interests, or other similar
or extraordinary event, Phantom Units shall be adjusted to reflect such event in the same manner in which Common Stock is treated as result
of such event and the Board shall make such adjustments as it deems appropriate and equitable in the number and nature of outstanding
Phantom Units credited to Service Providers’ Accounts and in any other matters which relate to Phantom Units in compliance with
all applicable laws.

 

5.5 Code
Section 409A Compliance. Phantom Units shall provide for prompt payment or issuance of shares of Common Stock, or the cash equivalent,
upon vesting of the Award and shall not include any deferral of compensation after vesting which would cause the Award to constitute a
deferral of compensation subject to Code Section 409A unless the applicable Award Agreement is structured to comply in all respects with
Code Section 409A.

 

6. NON-TRANSFERABILITY
OF AWARDS. No Award granted under this Plan may be directly or indirectly sold, pledged, assigned, hypothecated, transferred, disposed
of or encumbered in any manner whatsoever, other than by will or by the laws of descent or distribution prior to vesting and issuance
under the terms of the Award.

 

7. NO
RIGHT TO CONTINUED EMPLOYMENT OR SERVICE. Nothing in this Plan shall confer upon any Service Provider any right with respect to continuation
of employment by or consultancy to the Company or Pubco, nor shall it interfere in any way with the Company’s, Pubco’s or
any Subsidiary’s right to terminate any Service Provider’s employment or consultancy at any time, with or without cause and
with or without prior notice.

 

8. CODE
SECTION 409A. The Plan and any Award granted hereunder are intended to be exempt from or comply with the applicable requirements of
Code Section 409A and shall be limited, construed and interpreted in accordance with such intent. Notwithstanding anything herein to the
contrary, any provision in the Plan or Award Agreement that is inconsistent with exemption from or compliance with Code Section 409A shall
be deemed to be amended to comply with Code Section 409A and to the extent such provision cannot be amended to comply therewith, such
provision shall be null and void. The Company and Pubco shall have no liability to a Service Provider, or any other party, if an Award
that is intended to be exempt from, or comply with, Code Section 409A is not so exempt or compliant or for any action taken by the Committee,
the Company Board, Pubco, the Company or any of its Affiliates and, in the event that any Award or benefit under the Plan becomes subject
to penalties under Code Section 409A, responsibility for payment of such penalties shall rest solely with the affected Service Provider
and not with Pubco, the Company or any of its Affiliates

 

9. AMENDMENT
AND TERMINATION OF THE PLAN. The Company Board may at any time wholly or partially amend, alter, suspend or terminate the Plan. No
amendment, alteration, suspension or termination of the Plan shall adversely impair the rights of any Service Provider with respect to
any outstanding Award Agreement unless mutually agreed between the Service Provider and the Committee, which agreement must be in writing
and signed by the Service Provider and the Committee; provided however, that the foregoing shall not limit the authority of the
Committee to exercise all authority and discretion conveyed to it herein or in any Award Agreement. Termination of the Plan shall not
affect the Committee’s ability to exercise the powers granted to it hereunder with respect to Awards granted under the Plan prior
to the date of such termination.

 

10. GOVERNING
LAW. The validity and enforceability of this Plan shall be governed by and construed in accordance with the laws of the State of Delaware
without regard to otherwise governing principles of conflicts of law.

 

 

5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00337-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00337-of-00352.parquet"}]]