Document:

Exhibit 10.7

INDEMNITY AGREEMENT

 

THIS INDEMNITY AGREEMENT (this “Agreement”)
is made as of [·], 2021 by and between Bilander Acquisition
Corp., a Delaware corporation (the “Company”), and [·]
(“Indemnitee”).

 

RECITALS

 

WHEREAS, the Board of Directors of
the Company (the “Board”) has determined that it is reasonable, prudent and necessary for the Company contractually
to obligate itself to indemnify, hold harmless, exonerate and to advance expenses on behalf of, persons who serve the Company and
its direct and indirect subsidiaries (collectively, the “Company Group”) to the fullest extent permitted by
applicable law;

 

WHEREAS, this Agreement is a supplement
to and in furtherance of the Amended and Restated Certificate of Incorporation (the “Charter”) and the Bylaws
(the “Bylaws”) of the Company and any resolutions adopted pursuant thereto, and shall not be deemed a substitute
therefor, nor to diminish or abrogate any rights of Indemnitee thereunder;

 

WHEREAS, Indemnitee may not be willing
to serve as an officer or director, advisor or in another capacity without adequate protection, and the Company desires Indemnitee
to serve in such capacity. Indemnitee is willing to serve, continue to serve and to take on additional service for or on behalf
of the Company on the condition that Indemnitee be so indemnified; and

 

NOW, THEREFORE, in consideration of
the premises and the covenants contained herein and subject to the provisions of the letter agreement dated as of [·],
2021, the Company and Indemnitee do hereby covenant and agree as follows:

 

TERMS AND CONDITIONS

 

1.  SERVICES
TO THE COMPANY. In consideration of the Company’s covenants and obligations hereunder, Indemnitee will serve or continue
to serve as an officer, director, advisor, key employee or any other capacity of any member of the Company Group, as applicable,
for so long as Indemnitee is duly elected or appointed or retained or until Indemnitee tenders Indemnitee’s resignation or
until Indemnitee is removed. The foregoing notwithstanding, this Agreement shall continue in full force and effect after Indemnitee
has ceased to serve as a director, officer, advisor, key employee or in any other capacity of any member of the Company Group,
as provided in Section ‎17. This Agreement, however, shall not impose any obligation on Indemnitee or the Company
to continue Indemnitee’s service to the Company Group beyond any period otherwise required by law or by other agreements
or commitments of the parties, if any.

 

    

     

    

2.  DEFINITIONS.
As used in this Agreement:

 

(a)  References
to “agent” shall mean any person who is or was a director, officer or employee of the Company or a subsidiary
of the Company or other person authorized by the Company to act for the Company, to include such person serving in such capacity
as a director, officer, employee, fiduciary or other official of another corporation, partnership, limited liability company, joint
venture, trust or other enterprise at the request of, for the convenience of, or to represent the interests of the Company or a
subsidiary of the Company.

 

(b)  The
terms “Beneficial Owner” and “Beneficial Ownership” shall have the meanings set forth in
Rule 13d-3 promulgated under the Exchange Act (as defined below) as in effect on the date hereof.

 

(c)  A
“Change in Control” shall be deemed to occur upon the earliest to occur after the date of this Agreement of
any of the following events:

 

(i)  Acquisition
of Stock by Third Party. Other than an affiliate of Bilander Holdings, LLC (the “Sponsor”), any Person (as defined
below) is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing fifteen percent (15%)
or more of the combined voting power of the Company’s then outstanding securities entitled to vote generally in the election
of directors, unless (1) the change in the relative Beneficial Ownership of the Company’s securities by any Person results
solely from a reduction in the aggregate number of outstanding shares of securities entitled to vote generally in the election
of directors, or (2) such acquisition was approved in advance by the Continuing Directors (as defined below) and such acquisition
would not constitute a Change in Control under part (iii) of this definition;

 

(ii)  Change
in Board of Directors. Individuals who, as of the date hereof, constitute the Board, and any new director whose appointment by
the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two thirds of the directors
then still in office who were directors on the date hereof or whose appointment or nomination for election was previously so approved
(collectively, the “Continuing Directors”), cease for any reason to constitute a majority of the members of
the Board;

 

(iii)  Corporate
Transactions. The effective date of a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar
business combination, involving the Company and one or more businesses (a “Business Combination”), in each case,
unless, following such Business Combination: (1) all or substantially all of the individuals and entities who were the Beneficial
Owners of securities of the Company entitled to vote generally in the election of directors immediately prior to such Business
Combination beneficially own, directly or indirectly, more than 51% of the combined voting power of the then outstanding securities
of the surviving or resulting entity or the ultimate parent entity that controls such surviving or resulting entity (the “Successor”)
entitled to vote generally in the election of directors of the Successor (including, without limitation, a corporation which as
a result of such

 

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transaction owns the Company or all or substantially
all of the Company’s assets either directly or through one or more Subsidiaries (as defined below)) in substantially the
same proportions as their ownership immediately prior to such Business Combination, of the securities entitled to vote generally
in the election of directors; (2) other than an affiliate of the Company, no Person (excluding any corporation resulting from
such Business Combination) is the Beneficial Owner, directly or indirectly, of 15% or more of the combined voting power of the
then outstanding securities entitled to vote generally in the election of directors of the successor except to the extent that
such Person was the Beneficial Owner, directly or indirectly, of 15% or more of the combined voting power of the Company prior
to such Business Combination; and (3) a majority of the board of directors (or comparable governing body) of the Successor
were Continuing Directors at the time of the execution of the initial agreement, or of the action of the Board of Directors, providing
for such Business Combination;

 

(iv)  Liquidation.
The approval by the stockholders of the Company of a complete liquidation of the Company or an agreement or series of agreements
for the sale or disposition by the Company of all or substantially all of the Company’s assets, other than factoring the
Company’s current receivables or escrows due (or, if such stockholder approval is not required, the decision by the Board
to proceed with such a liquidation, sale, or disposition in one transaction or a series of related transactions); or

 

(v)  Other
Events. There occurs any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A
of Regulation 14A (or any successor rule) (or a response to any similar item on any similar schedule or form) promulgated under
the Exchange Act (as defined below), whether or not the Company is then subject to such reporting requirement.

 

(d)  “Corporate
Status” describes the status of a person who is or was a director, officer, trustee, general partner, manager, managing
member, fiduciary, employee or agent of the Company or of any other Enterprise (as defined below) which such person is or was serving
at the request of the Company.

 

(e)  “Delaware
Court” shall mean the Court of Chancery of the State of Delaware.

 

(f)  “Disinterested
Director” shall mean a director of the Company who is not and was not a party to the Proceeding (as defined below) in
respect of which indemnification is sought by Indemnitee.

 

(g)  “Enterprise”
shall mean the Company and any other corporation, constituent corporation (including any constituent of a constituent) absorbed
in a consolidation or merger to which the Company (or any of its wholly owned subsidiaries) is a party, limited liability company,
partnership, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is or was serving at the request
of the Company as a director, officer, trustee, general partner, managing member, fiduciary, employee or agent.

 

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(h)  “Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended.

 

(i)  “Expenses”
shall include all direct and indirect costs, fees and expenses of any type or nature whatsoever, including, without limitation,
all reasonable attorneys’ fees and costs, retainers, court costs, transcript costs, fees of experts, witness fees, travel
expenses, fees of private investigators and professional advisors, duplicating costs, printing and binding costs, telephone charges,
postage, delivery service fees, fax transmission charges, secretarial services and all other disbursements, obligations or expenses
in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness
in, settlement or appeal of, or otherwise participating in, a Proceeding (as defined below), including reasonable compensation
for time spent by Indemnitee for which he or she is not otherwise compensated by the Company or any third party. Expenses also
shall include Expenses incurred in connection with any appeal resulting from any Proceeding (as defined below), including without
limitation the principal, premium, security for, and other costs relating to any cost bond, supersede as bond, or other appeal
bond or its equivalent. Expenses, however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments
or fines against Indemnitee incurred in any Proceeding by or in the right of the Company.

 

(j)  References
to “fines” shall include any excise tax assessed on Indemnitee with respect to any employee benefit plan; references
to “serving at the request of the Company” shall include any service as a director, officer, employee, agent
or fiduciary of the Company which imposes duties on, or involves services by, such director, officer, employee, agent or fiduciary
with respect to an employee benefit plan, its participants or beneficiaries; and if Indemnitee acted in good faith and in a manner
Indemnitee reasonably believed to be in the best interests of the participants and beneficiaries of an employee benefit plan, Indemnitee
shall be deemed to have acted in a manner “not opposed to the best interests of the Company” as referred to
in this Agreement.

 

(k)  “Independent
Counsel” shall mean a law firm or a member of a law firm with significant experience in matters of corporation law and
that neither presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any matter
material to either such party (other than with respect to matters concerning Indemnitee under this Agreement, or of other indemnitees
under similar indemnification agreements); or (ii) any other party to the Proceeding (as defined below) giving rise to a claim
for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include
any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing
either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.

 

(l)  The
term “Person” shall have the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act as in effect
on the date hereof; provided, however, that “Person” shall exclude: ii) the Company; iii) any Subsidiaries
(as defined below) of the Company; iv) any employment benefit plan of the Company or of a Subsidiary (as defined below) of
the Company or of any corporation owned, directly or indirectly, by

 

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the stockholders of the Company in substantially
the same proportions as their ownership of stock of the Company; and v) any trustee or other fiduciary holding securities
under an employee benefit plan of the Company or of a Subsidiary (as defined below) of the Company or of a corporation owned directly
or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company.

 

(m)  The
term “Proceeding” shall include any threatened, pending or completed action, suit, arbitration, mediation, alternate
dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding,
whether brought in the right of the Company or otherwise and whether of a civil (including intentional or unintentional tort claims),
criminal, administrative or investigative or related nature, in which Indemnitee was, is, will or might be involved as a party
or otherwise by reason of the fact of Indemnitee’s Corporate Status, whether or not serving in such capacity at the time
any liability or expense is incurred for which indemnification, reimbursement, or advancement of expenses can be provided under
this Agreement but shall not include any Enforcement Proceeding pursuant to Section ‎14.

 

(n)  The
term “Subsidiary,” with respect to any Person, shall mean any corporation, limited liability company, partnership,
joint venture, trust or other entity of which a majority of the voting power of the voting equity securities or equity interest
is owned, directly or indirectly, by that Person.

 

3.  INDEMNITY
IN THIRD-PARTY PROCEEDINGS. To the fullest extent permitted by applicable law, the Company shall indemnify, hold harmless and
exonerate Indemnitee in accordance with the provisions of this Section ‎3 if Indemnitee was, is, or is threatened
to be made, a party to or a participant (as a witness, deponent or otherwise) in any Proceeding, other than a Proceeding by or
in the right of the Company to procure a judgment in its favor, by reason of Indemnitee’s Corporate Status. Pursuant to this
Section ‎3, Indemnitee shall be indemnified, held harmless and exonerated against all Expenses (including all interest,
assessments and other charges paid or payable in connection with or in respect of such Expenses) actually and reasonably incurred
by Indemnitee or on Indemnitee’s behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee
acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Company and, in
the case of a criminal Proceeding, had no reasonable cause to believe that Indemnitee’s conduct was unlawful.

 

4.  INDEMNITY
IN PROCEEDINGS BY OR IN THE RIGHT OF THE COMPANY. To the fullest extent permitted by applicable law, the Company shall indemnify,
hold harmless and exonerate Indemnitee in accordance with the provisions of this Section ‎4 if Indemnitee was,
is, or is threatened to be made, a party to or a participant (as a witness, deponent or otherwise) in any Proceeding by or in the
right of the Company to procure a judgment in its favor by reason of Indemnitee’s Corporate Status. Pursuant to this Section ‎4,
Indemnitee shall be indemnified, held harmless and exonerated against all Expenses actually and reasonably incurred by Indemnitee
or on Indemnitee’s behalf in

 

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connection with such Proceeding or any claim,
issue or matter therein, if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed
to the best interests of the Company. No indemnification, hold harmless or exoneration for Expenses shall be made under this Section ‎4
in respect of any claim, issue or matter as to which Indemnitee shall have been finally adjudged by a court of competent jurisdiction
to be liable to the Company, unless and only to the extent that any court in which the Proceeding was brought or the Delaware Court
shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case,
Indemnitee is fairly and reasonably entitled to indemnification, to be held harmless or to exoneration.

 

5.  INDEMNIFICATION
FOR EXPENSES OF A PARTY WHO IS WHOLLY OR PARTLY SUCCESSFUL. Notwithstanding any other provisions of this Agreement except for
Section ‎26, to the extent that Indemnitee was or is, by reason of Indemnitee’s Corporate Status, a party
to (or a participant in) and is successful, on the merits or otherwise, in defending any Proceeding or in defense of any claim,
issue or matter therein, in whole or in part, the defending Company shall, to the fullest extent permitted by applicable law, indemnify,
hold harmless and exonerate Indemnitee against all Expenses actually and reasonably incurred by Indemnitee in connection therewith.
If Indemnitee is not wholly successful in defense of such Proceeding (or part thereof) but is successful, on the merits or otherwise,
in defense of one or more but less than all claims, issues or matters in such Proceeding, the Company shall, to the fullest extent
permitted by applicable law, indemnify, hold harmless and exonerate Indemnitee against all Expenses actually and reasonably incurred
by Indemnitee or on Indemnitee’s behalf in connection with each successfully resolved claim, issue or matter. If Indemnitee
is not wholly successful in defense of such Proceeding (or part thereof), the Company also shall, to the fullest extent permitted
by applicable law, indemnify, hold harmless and exonerate Indemnitee against all Expenses reasonably incurred in connection with
a claim, issue or matter related to any claim, issue, or matter on which Indemnitee was successful. For purposes of this Section
and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice,
shall be deemed to be a successful result as to the defense of such claim, issue or matter.

 

6.  INDEMNIFICATION
FOR EXPENSES OF A WITNESS. Notwithstanding any other provision of this Agreement except for Section ‎26, to
the extent that Indemnitee is, by reason of Indemnitee’s Corporate Status, a witness or deponent in any Proceeding to which
Indemnitee was not or is not a party or threatened to be made a party, Indemnitee shall, to the fullest extent permitted by applicable
law, be indemnified, held harmless and exonerated against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s
behalf in connection therewith.

 

7.  ADDITIONAL
INDEMNIFICATION, HOLD HARMLESS AND EXONERATION RIGHTS. Notwithstanding any limitation in Sections ‎3, ‎4,
or ‎5, except for Section ‎26, the Company shall, to the fullest extent permitted by applicable law,
indemnify, hold harmless and exonerate Indemnitee if Indemnitee is a party to or threatened to be made a party to any Proceeding
against all Expenses and judgments,

 

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fines, penalties and amounts paid in settlement
in any Proceeding by or in the right of the Company to procure a judgment in its favor (including all interest, assessments and
other charges paid or payable in connection with or in respect of such Expenses, judgments, fines, penalties and amounts paid in
settlement) actually and reasonably incurred by Indemnitee in connection with the Proceeding.

 

8.  CONTRIBUTION
IN THE EVENT OF JOINT LIABILITY.

 

(a)  To
the fullest extent permissible under applicable law, if the indemnification, hold harmless and/or exoneration rights provided for
in this Agreement are unavailable to Indemnitee in whole or in part for any reason whatsoever, the Company, in lieu of indemnifying,
holding harmless or exonerating Indemnitee, shall pay, in the first instance, the entire amount incurred by Indemnitee, whether
for judgments, liabilities, fines, penalties, amounts paid or to be paid in settlement and/or for Expenses, in connection with
any Proceeding without requiring Indemnitee to contribute to such payment, and the Company hereby waives and relinquishes any right
of contribution it may have at any time against Indemnitee.

 

(b)  The
Company shall not enter into any settlement of any Proceeding in which the Company is jointly liable with Indemnitee (or would
be if joined in such Proceeding) unless such settlement provides for a full and final release of all claims asserted against Indemnitee.

 

(c)  The
Company hereby agrees to fully indemnify, hold harmless and exonerate Indemnitee from any claims for contribution which may be
brought by officers, directors or employees of the Company other than Indemnitee who may be jointly liable with Indemnitee.

 

9.  EXCLUSIONS.
Notwithstanding any provision in this Agreement, the Company shall not be obligated under this Agreement to make any indemnification,
advance expenses, hold harmless or exoneration payment in connection with any claim made against Indemnitee:

 

(a)  for
which payment has actually been received by or on behalf of Indemnitee under any insurance policy or other indemnity or advancement
provision, except with respect to any excess beyond the amount actually received under any insurance policy, contract, agreement,
other indemnity or advancement provision or otherwise;

 

(b)  for
an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within
the meaning of ‎16(b) of the Exchange Act (or any successor rule) or similar provisions of state statutory law or common
law; or

 

(c)  except
as otherwise provided in Sections ‎14(f)-‎(g) hereof, prior to a Change in Control, in connection with
any Proceeding (or any part of any Proceeding) initiated by Indemnitee, including any Proceeding (or any part of any Proceeding)
initiated by Indemnitee against the Company or its directors, officers, employees or other

 

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indemnitees, unless vi) the Board authorized
the Proceeding (or any part of any Proceeding) prior to its initiation or vii) the Company provides the indemnification, hold
harmless or exoneration payment, in its sole discretion, pursuant to the powers vested in the Company under applicable law. Indemnitee
shall seek payments or Advances from the Company only to the extent that such payments or Advances are unavailable from any insurance
policy of the Company covering Indemnitee.

 

10.  ADVANCES
OF EXPENSES; DEFENSE OF CLAIM.

 

(a)  Notwithstanding
any provision of this Agreement to the contrary, except for Section ‎26, and to the fullest extent not prohibited
by applicable law, the Company shall pay the Expenses incurred by Indemnitee in connection with any Proceeding within ten (10)
days after the receipt by the Company of a statement or statements requesting such advances from time to time, prior to the final
disposition of any Proceeding. Advances shall, to the fullest extent permitted by law, be unsecured and interest free. Advances
shall, to the fullest extent permitted by law, be made without regard to Indemnitee’s ability to repay the Expenses and without
regard to Indemnitee’s ultimate entitlement to be indemnified, held harmless or exonerated under the other provisions of
this Agreement. Advances shall include any and all reasonable Expenses incurred pursuing an Enforcement Proceeding (assuming for
this purpose all references to a “Proceeding” in the definition of Expenses were deemed related to an Enforcement
Proceeding), including Expenses incurred preparing and forwarding statements to the Company to support the advances claimed. This
Agreement shall constitute Indemnitee’s undertaking to repay the advanced amounts to the extent that it is ultimately determined
that Indemnitee is not entitled to be indemnified, held harmless or exonerated by the Company under the provisions of this Agreement,
the Charter, the Bylaws of the Company, applicable law or otherwise, but only if such an undertaking is required by applicable
law. This Section ‎10(a) shall not apply to any Proceeding for which indemnity is not permitted under Section ‎9
of this Agreement, but shall apply to any Proceeding referenced in Section ‎9(b) prior to a final determination
that Indemnitee is liable therefor.

 

(b)  The
Company will be entitled to participate in the Proceeding at its own expense.

 

(c)  The
Company shall not settle any action, claim or Proceeding (in whole or in part) which would impose any Expense, judgment, fine,
penalty or limitation on Indemnitee without Indemnitee’s prior written consent.

 

11.  PROCEDURE
FOR NOTIFICATION AND APPLICATION FOR INDEMNIFICATION.

 

(a)  Indemnitee
agrees to notify promptly the Company in writing upon being served with any summons, citation, subpoena, complaint, indictment,
information or other document relating to any Proceeding, claim, issue or matter therein which may be subject to indemnification,
hold harmless or exoneration rights, or advancement of Expenses covered hereunder. The failure of Indemnitee to so notify the Company
shall

 

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not relieve the Company of any obligation
which it may have to Indemnitee under this Agreement, or otherwise.

 

(b)  Indemnitee
may deliver to the Company a written application to indemnify, hold harmless or exonerate Indemnitee in accordance with this Agreement.
Such application(s) may be delivered from time to time and at such time(s) as Indemnitee deems appropriate in his sole discretion.
Following such a written application for indemnification by Indemnitee, Indemnitee’s entitlement to indemnification shall
be determined according to Section ‎12(a) of this Agreement.

 

12.  PROCEDURE
UPON APPLICATION FOR INDEMNIFICATION.

 

(a)  A
determination, if required by applicable law, with respect to Indemnitee’s entitlement to indemnification shall be made in
the specific case by one of the following methods: (i) if no Change in Control has occurred (x) by a majority vote of the Disinterested
Directors, even though less than a quorum of the Board, (y) by a committee of Disinterested Directors, even though less than a
quorum of the Board, or (z) if there are no Disinterested Directors, or if such directors so direct, by Independent Counsel in
a written opinion to the Board, a copy of which shall be delivered to Indemnitee, or (ii) if a Change in Control has occurred,
by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to the Indemnitee. The Company promptly
will advise Indemnitee in writing with respect to any determination that Indemnitee is or is not entitled to indemnification, including
a description of any reason or basis for which indemnification has been denied. If it is so determined that Indemnitee is entitled
to indemnification, payment to Indemnitee shall be made within ten (10) days after such determination. Indemnitee shall reasonably
cooperate with the person, persons or entity making such determination with respect to Indemnitee’s entitlement to indemnification,
including providing to such person, persons or entity upon reasonable advance request any documentation or information which is
not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary
to such determination. Any costs or Expenses (including reasonable attorneys’ fees and disbursements) incurred by Indemnitee
in so cooperating with the person, persons or entity making such determination shall be borne by the Company (irrespective of the
determination as to Indemnitee’s entitlement to indemnification) and the Company hereby agrees to indemnify and to hold Indemnitee
harmless therefrom.

 

(b)  In
the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section ‎12(a)
hereof, the Independent Counsel shall be selected as provided in this Section ‎12(b). The Independent Counsel shall
be selected by Indemnitee (unless Indemnitee shall request that such selection be made by the Board), and Indemnitee shall give
written notice to the Company advising it of the identity of the Independent Counsel so selected and certifying that the Independent
Counsel so selected meets the requirements of “Independent Counsel” as defined in Section ‎2
of this Agreement. If the Independent Counsel is selected by the Board, the Company shall give written notice to Indemnitee advising
Indemnitee of the identity of the Independent Counsel so selected and certifying that the Independent Counsel so selected meets
the requirements of “Independent Counsel” as defined in Section ‎2 of this

 

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Agreement. In either event, Indemnitee or
the Company, as the case may be, may, within ten (10) days after such written notice of selection shall have been received, deliver
to the Company or to Indemnitee, as the case may be, a written objection to such selection; provided, however, that such objection
may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent
Counsel” as defined in Section ‎2 of this Agreement, and the objection shall set forth with particularity
the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel.
If such written objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel
unless and until such objection is withdrawn or a court of competent jurisdiction has determined that such objection is without
merit. If, within twenty (20) days after submission by Indemnitee of a written request for indemnification pursuant to Section ‎11(b)
hereof, no Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee may petition the
Delaware Court for resolution of any objection which shall have been made by the Company or Indemnitee to the other’s selection
of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by the Delaware Court, and the person
with respect to whom all objections are so resolved or the person so appointed shall act as Independent Counsel under Section ‎12(a)
hereof. Upon the due commencement of any judicial proceeding or arbitration pursuant to Section ‎14(a) of this
Agreement, Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the
applicable standards of professional conduct then prevailing).

 

(c)  The
Company agrees to pay the reasonable fees and expenses of Independent Counsel and to fully indemnify and hold harmless such Independent
Counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement
pursuant hereto.

 

13.  PRESUMPTIONS
AND EFFECT OF CERTAIN PROCEEDINGS.

 

(a)  In
making a determination with respect to entitlement to indemnification hereunder, the person, persons or entity making such determination
shall presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification
in accordance with Section ‎11(b) of this Agreement, and the Company shall have the burden of proof to overcome
that presumption in connection with the making by any person, persons or entity of any determination contrary to that presumption.
Neither the failure of the Company (including by the Disinterested Directors or Independent Counsel) to have made a determination
prior to the commencement of any action pursuant to this Agreement that indemnification is proper in the circumstances because
Indemnitee has met the applicable standard of conduct, nor an actual determination by the Company (including by the Disinterested
Directors or Independent Counsel) that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action
or create a presumption that Indemnitee has not met the applicable standard of conduct.

 

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(b)  If
the person, persons or entity empowered or selected under Section ‎12 of this Agreement to determine whether Indemnitee
is entitled to indemnification shall not have made a determination within thirty (30) days after receipt by the Company of the
request therefor, the requisite determination of entitlement to indemnification shall, to the fullest extent permitted by law,
be deemed to have been made and Indemnitee shall be entitled to such indemnification, absent (i) a misstatement by Indemnitee of
a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in
connection with the request for indemnification, or (ii) a final judicial determination that any or all such indemnification is
expressly prohibited under applicable law; provided, however, that such 30-day period may be extended for a reasonable time, not
to exceed an additional fifteen (15) days, if the person, persons or entity making the determination with respect to entitlement
to indemnification in good faith requires such additional time for the obtaining or evaluating of documentation and/or information
relating thereto.

 

(c)  The
termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a
plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely
affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner
which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal
Proceeding, that Indemnitee had reasonable cause to believe that Indemnitee’s conduct was unlawful.

 

(d)  For
purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith if Indemnitee’s action
is based on the records or books of account of the Enterprise, including financial statements, or on information supplied to Indemnitee
by the directors, manager, or officers of the Enterprise in the course of their duties, or on the advice of legal counsel for the
Enterprise, its Board, any committee of the Board or any director, trustee, general partner, manager or managing member, or on
information or records given or reports made to the Enterprise, its Board, any committee of the Board or any director, trustee,
general partner, manager or managing member, by an independent certified public accountant or by an appraiser or other expert selected
by the Enterprise, its Board, any committee of the Board or any director, trustee, general partner, manager or managing member.
The provisions of this Section ‎13(d) shall not be deemed to be exclusive or to limit in any way the other circumstances
in which Indemnitee may be deemed or found to have met the applicable standard of conduct set forth in this Agreement.

 

(e)  The
knowledge and/or actions, or failure to act, of any other director, officer, trustee, partner, manager, managing member, fiduciary,
agent or employee of the Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification
under this Agreement.

 

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14.  REMEDIES
OF INDEMNITEE.

 

(a)  In
the event that viii) a determination is made pursuant to Section ‎12 of this Agreement that Indemnitee is
not entitled to indemnification under this Agreement, advancement of Expenses, to the fullest extent permitted by applicable law,
is not timely made pursuant to Section ‎10 of this Agreement, no determination of entitlement to indemnification
shall have been made pursuant to Section ‎12(a) of this Agreement within thirty (30) days after receipt by the
Company of the request for indemnification, payment of indemnification is not made pursuant to Section ‎5, ‎6,
‎7 or the last sentence of Section ‎12(a) of this Agreement within ten (10) days after receipt by the
Company of a written request therefor, a contribution payment is not made in a timely manner pursuant to Section ‎8
of this Agreement, payment of indemnification pursuant to Section ‎3 or ‎4 of this Agreement is not
made within ten (10) days after a determination has been made that Indemnitee is entitled to indemnification, or payment to Indemnitee
pursuant to any hold harmless or exoneration rights under this Agreement or otherwise is not made in accordance with this Agreement,
Indemnitee shall be entitled to an adjudication by the Delaware Court to such indemnification, hold harmless, exoneration, contribution
or advancement rights. Alternatively, Indemnitee, at Indemnitee’s option, may seek an award in arbitration to be conducted
by a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association. Except as set forth
herein, the provisions of Delaware law (without regard to its conflict of laws rules) shall apply to any such arbitration. The
Company shall not oppose Indemnitee’s right to seek any such adjudication or award in arbitration. Such adjudication or arbitration
proceeding is referred to herein as “Enforcement Proceeding.”

 

(b)  In
the event that a determination shall have been made pursuant to Section ‎12(a) of this Agreement that Indemnitee
is not entitled to indemnification, any Enforcement Proceeding shall be conducted in all respects as a de novo trial, or arbitration,
on the merits and Indemnitee shall not be prejudiced by reason of that adverse determination.

 

(c)  In
any Enforcement Proceeding, Indemnitee shall be presumed to be entitled to be indemnified, held harmless, exonerated and to receive
advancement of Expenses under this Agreement and the Company shall have the burden of proving Indemnitee is not entitled to be
indemnified, held harmless, exonerated and to receive advancement of Expenses, as the case may be, and the Company may not refer
to or introduce into evidence any determination pursuant to Section ‎12(a) of this Agreement adverse to Indemnitee
for any purpose. If Indemnitee commences an Enforcement Proceeding, Indemnitee shall not be required to reimburse the Company for
any advances pursuant to Section ‎10 until a final determination is made with respect to Indemnitee’s entitlement
to indemnification (as to which all rights of appeal have been exhausted or lapsed).

 

(d)  If
a determination shall have been made pursuant to Section ‎12(a) of this Agreement that Indemnitee is entitled to
indemnification, the Company shall be bound by such determination in Enforcement Proceeding, absent ix) a misstatement by
Indemnitee

 

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of a material fact, or an omission of a material
fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification,
or x) a prohibition of such indemnification under applicable law.

 

(e)  The
Company shall be precluded from asserting in Enforcement Proceeding that the procedures and presumptions of this Agreement are
not valid, binding and enforceable and shall stipulate in any such court or before any such arbitrator that the Company is bound
by all the provisions of this Agreement.

 

(f)  The
Company shall indemnify and hold harmless Indemnitee to the fullest extent permitted by law against all Expenses (assuming for
purposes of this sentence that all references to a Proceeding in the definition of Expenses were references to an Enforcement Proceeding)
and, if requested by Indemnitee, shall (within ten

 

(10) days after the Company’s receipt
of such written request) pay to Indemnitee, to the fullest extent permitted by applicable law, such Expenses which are incurred
by Indemnitee in connection with any Enforcement Proceeding brought by Indemnitee: xi) to enforce his rights under, or to
recover damages for breach of, this Agreement or any other indemnification, hold harmless, exoneration, advancement or contribution
agreement or provision of the Charter, or the Bylaws now or hereafter in effect; or xii) for recovery or advances under any
insurance policy maintained by any person for the benefit of Indemnitee, regardless of the outcome and whether Indemnitee ultimately
is determined to be entitled to such indemnification, hold harmless or exoneration right, advancement, contribution or insurance
recovery, as the case may be (unless such Enforcement Proceeding was not brought by Indemnitee in good faith).

 

(g)  Interest
shall be paid by the Company to Indemnitee at the legal rate under Delaware law for amounts which the Company indemnifies, holds
harmless or exonerates, or advances, or is obliged to indemnify, hold harmless or exonerate or advance for the period commencing
with the date on which Indemnitee requests indemnification, to be held harmless, exonerated, contribution, reimbursement or advancement
of any Expenses and ending with the date on which such payment is made to Indemnitee by or on behalf of the Company.

 

15.  SECURITY.
Notwithstanding anything herein to the contrary, except for Section ‎26, to the extent requested by Indemnitee
and approved by the Board, the Company may at any time and from time to time provide security to Indemnitee for the Company’s
obligations hereunder through an irrevocable bank line of credit, funded trust or other collateral. Any such security, once provided
to Indemnitee, may not be revoked or released without the prior written consent of Indemnitee.

 

16.  NON-EXCLUSIVITY;
SURVIVAL OF RIGHTS; INSURANCE; SUBROGATION.

 

(a)  The
rights of Indemnitee as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at
any time be entitled under applicable law, the Charter, the Bylaws, any agreement, a vote of stockholders or a

 

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resolution of directors, or otherwise. No
amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under
this Agreement in respect of any Proceeding (regardless of when such Proceeding is first threatened, commenced or completed) or
claim, issue or matter therein arising out of, or related to, any action taken or omitted by such Indemnitee in Indemnitee’s
Corporate Status prior to such amendment, alteration or repeals, except as may otherwise be expressly set forth in such amendment,
alteration or repeals and mutually agreed by Indemnitee and the Company. To the extent that a change in applicable law, whether
by statute or judicial decision, permits greater indemnification, hold harmless or exoneration rights or advancement of expenses
than would be afforded currently under the Charter, the Bylaws or this Agreement, it is the intent of the parties hereto that Indemnitee
shall enjoy by this Agreement the greater benefits so afforded by such change. No right or remedy herein conferred is intended
to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other
right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of
any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy.

 

(b)  The
Delaware General Corporation Law (the “DGCL”), the Charter and the Bylaws permit the Company to purchase and
maintain insurance or furnish similar protection or make other arrangements including, but not limited to, providing a trust fund,
letter of credit, or surety bond (“Indemnification Arrangements”) on behalf of Indemnitee against any liability
asserted against Indemnitee or incurred by or on behalf of Indemnitee or in such capacity as a director, officer, employee or agent
of the Company, or arising out of Indemnitee’s status as such, whether or not the Company would have the power to indemnify
Indemnitee against such liability under the provisions of this Agreement or under the DGCL, as it may then be in effect. The purchase,
establishment, and maintenance of any such Indemnification Arrangement shall not in any way limit or affect the rights and obligations
of the Company or of Indemnitee under this Agreement except as expressly provided herein, and the execution and delivery of this
Agreement by the Company and Indemnitee shall not in any way limit or affect the rights and obligations of the Company or the other
party or parties thereto under any such Indemnification Arrangement.

 

(c)  To
the extent that any member of the Company Group maintains an insurance policy or policies providing liability insurance for directors,
officers, trustees, partners, managers, managing members, fiduciaries, employees, or agents of the Company Group or of any other
Enterprise which such person serves at the request of the Company, Indemnitee shall be covered by such policy or policies in accordance
with its or their terms to the maximum extent of the coverage available for any such director, officer, trustee, partner, managers,
managing member, fiduciary, employee or agent under such policy or policies. If, at the time the Company receives notice from any
source of a Proceeding as to which Indemnitee is a party or a participant (as a witness, deponent or otherwise), the Company has
director and officer liability insurance in effect, the Company shall give prompt notice of such Proceeding to the insurers in
accordance with the procedures set forth in the respective policies. The Company shall thereafter take or cause to be taken all
necessary or desirable action to cause such insurers to pay, on behalf

 

    14

     

    

of Indemnitee, all amounts payable as a result
of such Proceeding in accordance with the terms of such policies.

 

(d)  In
the event of any payment under this Agreement, the Company, to the fullest extent permitted by law, shall be subrogated to the
extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action
necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to
enforce such rights.

 

(e)  The
Company’s obligation to indemnify, hold harmless, exonerate or advance Expenses hereunder to Indemnitee who is or was serving
at the request of the Company as a director, officer, trustee, partner, manager, managing member, fiduciary, employee or agent
of any other Enterprise shall be reduced by any amount Indemnitee has actually received as indemnification, hold harmless or exoneration
payments or advancement of expenses from such Enterprise. Notwithstanding any other provision of this Agreement to the contrary
except for Section ‎26, xiii) Indemnitee shall have no obligation to reduce, offset, allocate, pursue or apportion
any indemnification, hold harmless, exoneration, advancement, contribution or insurance coverage among multiple parties possessing
such duties to Indemnitee prior to the Company’s satisfaction and performance of all its obligations under this Agreement,
and xiv) the Company shall perform fully its obligations under this Agreement without regard to whether Indemnitee holds,
may pursue or has pursued any indemnification, advancement, hold harmless, exoneration, contribution or insurance coverage rights
against any person or entity other than the Company.

 

(f)  To
the extent Indemnitee has rights to indemnification, advancement of expenses and/or insurance provided by the Sponsor or its affiliates
as applicable, xv) the Company shall be the indemnitor of first resort (i.e., that its obligations to Indemnitee are primary
and any obligation of the Sponsor or its affiliates, as applicable, to advance expenses or to provide indemnification for the same
expenses or liabilities incurred by Indemnitee are secondary), xvi) the Company shall be required to advance the full amount
of expenses incurred by Indemnitee and shall be liable for the full amount of all claims, liabilities, damages, losses, costs and
expenses (including amounts paid in satisfaction of judgments, in compromises and settlements, as fines and penalties and legal
or other costs and reasonable expenses of investigating or defending against any claim or alleged claim) to the extent legally
permitted and as required by the terms of this Agreement, the Company’s organizational documents or other agreement, without
regard to any rights Indemnitee may have against the Sponsor or its affiliates, as applicable, and xvii) the Company irrevocably
waives, relinquishes and releases the Sponsor and its affiliates, as applicable, from any and all claims against them for contribution,
subrogation or any other recovery of any kind in respect thereof. No advancement or payment by the Sponsor or its affiliates, as
applicable, on behalf of Indemnitee with respect to any claim for which Indemnitee has sought indemnification from the Company
shall affect the foregoing, and the Sponsor and its affiliates, as applicable, shall have a right of contribution and be subrogated
to the extent of such advancement or payment to all of the rights of recovery of Indemnitee against the Company.

 

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17.  DURATION
OF AGREEMENT. All agreements and obligations of the Company contained herein shall continue during the period Indemnitee serves
as a director or officer of the Company or as a director, officer, trustee, partner, manager, managing member, fiduciary, employee
or agent of any other corporation, partnership, joint venture, trust, employee benefit plan or other Enterprise which Indemnitee
serves at the request of the Company and shall continue thereafter so long as Indemnitee shall be subject to any possible Proceeding
or Enforcement Proceeding (including any rights of appeal thereto) by reason of Indemnitee’s Corporate Status, whether or
not Indemnitee is acting in any such capacity at the time any liability or expense is incurred for which indemnification or advancement
can be provided under this Agreement.

 

18.  SEVERABILITY.
If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever:
b) the validity, legality and enforceability of the remaining provisions of this Agreement (including, without limitation,
each portion of any Section, paragraph or sentence of this Agreement containing any such provision held to be invalid, illegal
or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and
shall remain enforceable to the fullest extent permitted by law; c) such provision or provisions shall be deemed reformed
to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and d) to
the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of any Section, paragraph
or sentence of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid,
illegal or unenforceable) shall be construed so as to give effect to the intent manifested thereby.

 

19.  ENFORCEMENT
AND BINDING EFFECT.

 

(a)  The
Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby
in order to induce Indemnitee to serve as a director, officer or key employee of the Company Group, and the Company acknowledges
that Indemnitee is relying upon this Agreement in serving as a director, officer or key employee of the Company Group.

 

(b)  Without
limiting any of the rights of Indemnitee under the Charter or Bylaws of the Company as they may be amended from time to time, this
Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes
all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter
hereof.

 

(c)  The
indemnification, hold harmless, exoneration and advancement of expenses rights provided by or granted pursuant to this Agreement
shall be binding upon and be enforceable by the parties hereto and their respective successors and permitted assigns (including
any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or
assets of the Company, but subject to such successor’s compliance with Section ‎19(d)), shall continue as
to an Indemnitee who has ceased to be a director, officer, employee or agent of the Company or a director, officer, trustee, general
partner, manager, managing member, fiduciary,

 

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employee or agent of any other Enterprise
at the Company’s request, and shall inure to the benefit of Indemnitee and Indemnitee’s spouse, permitted assigns,
heirs, devisees, executors and administrators and other legal representatives.

 

(d)  The
Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all,
substantially all or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance
satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that
the Company would be required to perform if no such succession had taken place.

 

(e)  The
Company and Indemnitee agree herein that a monetary remedy for breach of this Agreement, at some later date, may be inadequate,
impracticable and difficult of proof, and further agree that such breach may cause Indemnitee irreparable harm. Accordingly, the
parties hereto agree that Indemnitee may, to the fullest extent permitted by law, enforce this Agreement by seeking, among other
things, injunctive relief and/or specific performance hereof, without any necessity of showing actual damage or irreparable harm
and that by seeking injunctive relief and/or specific performance, Indemnitee shall not be precluded from seeking or obtaining
any other relief to which Indemnitee may be entitled. The Company and Indemnitee further agree that Indemnitee shall, to the fullest
extent permitted by law, be entitled to such specific performance and injunctive relief, including temporary restraining orders,
preliminary injunctions and permanent injunctions, without the necessity of posting bonds or other security in connection therewith.
The Company acknowledges that in the absence of a waiver, a bond or other security may be required of Indemnitee by a court of
competent jurisdiction. The Company hereby waives any such requirement of such a bond or other security to the fullest extent permitted
by law.

 

20.  MODIFICATION
AND WAIVER. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by the Company
and Indemnitee. No waiver of any provision of this Agreement shall be enforceable unless in writing and signed by the party against
whom it is to be enforced. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of
any other provisions of this Agreement nor shall any waiver constitute a continuing waiver.

 

21.  NOTICES.
All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed to have been
duly given i) if delivered by hand and receipted for by the party to whom said notice or other communication shall have been
directed, or ii) mailed by certified or registered mail with postage prepaid, on the third (3rd) business day after the date
on which it is so mailed:

 

(b)  If
to Indemnitee, at the address indicated on the signature page of this Agreement, or such other address as Indemnitee shall provide
in writing to the Company.

 

(c)  If
to the Company, to:

 

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Bilander Acquisition Corp.

Four Embarcadero Center, Suite 2100

San Francisco, CA 94111

Attn: James H. Greene, Jr.

 

With a copy, which shall not constitute notice, to

 

Davis Polk & Wardwell LLP

450 Lexington Avenue

New York, NY 10017

Attention: Derek Dostal, Esq.

Yan Zhang, Esq.

 

or to any other address as may have been furnished to Indemnitee
in writing by the Company.

 

22.  APPLICABLE
LAW AND CONSENT TO JURISDICTION. This Agreement and the legal relations among the parties shall be governed by, and construed
and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. Except with respect
to any arbitration commenced by Indemnitee pursuant to Section ‎14(a) of this Agreement, to the fullest extent
permitted by law, the Company and Indemnitee hereby irrevocably and unconditionally: e) agree that any action or proceeding
arising out of or in connection with this Agreement shall be brought only in the Delaware Court and not in any other state or federal
court in the United States of America or any court in any other country; f) consent to submit to the exclusive jurisdiction
of the Delaware Court for purposes of any action or proceeding arising out of or in connection with this Agreement; g) waive
any objection to the laying of venue of any such action or proceeding in the Delaware Court; and h) waive, and agree not to
plead or to make, any claim that any such action or proceeding brought in the Delaware Court has been brought in an improper or
inconvenient forum, or is subject (in whole or in part) to a jury trial. To the fullest extent permitted by law, the parties hereby
agree that the mailing of process and other papers in connection with any such action or proceeding in the manner provided by Section ‎21
or in such other manner as may be permitted by law, shall be valid and sufficient service thereof.

 

23.  IDENTICAL
COUNTERPARTS. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to
be an original but all of which together shall constitute one and the same Agreement. Only one such counterpart signed by the party
against whom enforceability is sought needs to be produced to evidence the existence of this Agreement.

 

24.  MISCELLANEOUS.
Use of the masculine pronoun shall be deemed to include usage of the feminine pronoun where appropriate. The headings of the paragraphs
of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the
construction thereof.

 

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25.  ADDITIONAL
ACTS. If for the validation of any of the provisions in this Agreement any act, resolution, approval or other procedure is
required to the fullest extent permitted by law, the Company undertakes to cause such act, resolution, approval or other procedure
to be affected or adopted in a manner that will enable the Company to fulfill its obligations under this Agreement.

 

26.  WAIVER
OF CLAIMS TO TRUST ACCOUNT. Indemnitee hereby agrees that it does not have any right, title, interest or claim of any kind
(each, a “Claim”) in or to any monies in the trust account established in connection with the Company’s
initial public offering for the benefit of the Company and holders of shares issued in such offering, and hereby waives any Claim
it may have in the future as a result of, or arising out of, any services provided to the Company and will not seek recourse against
such trust account for any reason whatsoever.

 

27.  MAINTENANCE
OF INSURANCE. The Company shall use commercially reasonable efforts to obtain and maintain in effect during the entire period
for which the Company is obligated to indemnify the Indemnitee under this Agreement, one or more policies of insurance with reputable
insurance companies to provide the officers/directors of the Company with coverage for losses from wrongful acts and omissions
and to ensure the Company’s performance of its indemnification obligations under this Agreement. The Indemnitee shall be
covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any
such director or officer under such policy or policies. In all such insurance policies, the Indemnitee shall be named as an insured
in such a manner as to provide the Indemnitee with the same rights and benefits as are accorded to the most favorably insured of
the Company’s directors and officers.

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF, the parties hereto have
caused this Indemnity Agreement to be signed as of the day and year first above written.

 

	 	BILANDER ACQUISITION CORP.
	 	By:	 
	 	 	Name:	Rufina Adams
	 	 	Title:	Chief Financial Officer

 

	 	INDEMNITEE
	 	By:	 
	 	 	Name:	

 

[Signature
Page to Indemnity Agreement]Exhibit 10.8

 

FORWARD PURCHASE AGREEMENT

 

This Forward Purchase Agreement (this “Agreement”)
is entered into as of __________, 2021, by and between Bilander Acquisition Corp., a Delaware corporation (the “Company”),
and the purchaser named on the signature page hereto (the “Purchaser”).

 

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 “SEC”) a registration statement on Form S-1 (the “Registration
Statement”) for its initial public offering (“IPO”) of 15,000,000 units (or 17,250,000 units if the
underwriters’ over-allotment option (the “IPO 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 “Class A Shares,” and the Class A Shares included in the Public Units, the “Public
Shares”), and one-sixth of one redeemable warrant, where each whole redeemable warrant is exercisable to purchase one
Class A Share at an exercise price of $11.50 per share (the “Warrants,” and the Warrants included in the Public
Units, the “Public Warrants”);

 

WHEREAS, the Company’s sponsor, Bilander
Holdings, LLC, has agreed or will agree to purchase an aggregate of 3,500,000 Warrants (or 3,800,000 Warrants if the IPO Option
is exercised in full) at a price of $1.50 per warrant in a private placement that will close simultaneously with the closing of
the IPO (the “Private Placement Warrants”);

 

WHEREAS, following the closing of the IPO
(the “IPO Closing”), the Company will seek to identify and consummate a Business Combination;

 

WHEREAS, the parties wish to enter into
this Agreement, 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 Purchaser, and the Purchaser may purchase from the Company,
on a private placement basis, 2,500,000 Class A Shares at $10.00 per share (the “Forward Purchase Shares”) for
an aggregate purchase price of $25,000,000;

 

WHEREAS, proceeds from the IPO and the
sale of the Private Placement Warrants in an aggregate amount equal to 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.

 

NOW, THEREFORE, in consideration of the
premises, representations, warranties and the mutual covenants contained in this Agreement, and for other good and valuable consideration,
the receipt, sufficiency and adequacy of which are hereby acknowledged, the parties hereto agree as follows:

 

Agreement

 

1.  Sale
and Purchase.

 

(a)  Forward
Purchase Units.  

 

    1

     

    

(i)  Subject
to the terms and conditions set forth herein, the Company shall issue and sell to the Purchaser, and the Purchaser shall purchase
from the Company, 2,500,000 Forward Purchase Shares for a purchase price of $10.00 per Forward Purchase Share (the “Forward
Purchase Price”), or $25,000,000 in the aggregate.

 

(ii)  As
soon as reasonably practicable, but in no event less than twenty (20) Business Days after the Company has identified a target for
the Business Combination and that target has indicated a willingness to enter into definitive negotiations for the Business Combination,
the Company shall provide the Purchaser with notice (the “Initial Company Notice”). Along with delivery of the
Initial Company Notice, the Company shall provide the Purchaser with all pertinent information related to the Business Combination,
including: (1) the identity of the counterparty or parties to the Business Combination (the “Target”); (2) audited
financial documents (at a minimum, income statements, balance sheets, statements of cash flow, and general ledgers) of the Target
for each fiscal for each of the previous three (3) fiscal years (if such audited financial documents are commercially reasonably
obtainable by the Company; if audited financial documents are not commercially reasonably obtainable, then unaudited financial
documents); (3) the complete terms of the Business Combination (including identification of other Forward Purchase Agreements and
the amounts thereof, any debt being utilized by the Company in furtherance of the Business Combination, and capitalization tables
for the Company immediately prior to and following the Business Combination); (4) the proposed timeline for the Business Combination;
and (5) such other information as the Purchaser (or any applicable Transferee pursuant to Section 4(b) hereof) may reasonably request.
The Company shall keep the Purchaser informed of the progress of the negotiations with the target of the Business Combination,
and shall update the information provided to the Purchaser as reasonably necessary to keep the Purchaser informed of the status
of the target and the Business Combination.

 

(B)  The
Company shall inform the Purchaser of the entry into definitive agreements with the Target for the Business Combination. Prior
to the later of twenty (20) Business Days after this notification to the Purchaser or twenty (20) business days before the Business
Combination Closing, the Purchaser shall provide the Company with notice of the decision of its investment committee as to the
approval or non-approval of the purchase of Forward Purchase Shares. If approved, this notice shall constitute the binding obligation
of the Purchaser to purchase the Forward Purchase Shares, subject to the terms and conditions of this Agreement. The determination
of the Purchaser’s investment committee as to whether the Forward Purchase Shares offered to the Purchaser are to be purchased
by the Purchaser shall be made in the committee’s reasonable business judgement.

 

(iii)  At
least ten (10) Business Days before the Business Combination Closing, the Company shall provide the Purchaser with an updated notice
(the “Final Company Notice”) including:

 

(A)  the
anticipated date of the Business Combination Closing; and

 

(B)  instructions
for wiring the Forward Purchase Price.

 

(iv)  The
closing of the sale of Forward Purchase Shares (the “Forward Closing”) shall be held on the same date and concurrently
with the Business Combination Closing (such date being referred to as the “Forward Closing Date”). At least
three (3) Business Days prior to the Forward Closing Date, the Purchaser shall deliver the Forward Purchase Price for the Forward
Purchase Shares by wire transfer of U.S. dollars in immediately available funds to the account specified by the Company in such
notice (which shall be an escrow account maintained by American Stock Transfer & Trust Company LLC, acting as escrow agent)
to be held in escrow until the Forward Closing. Immediately prior to the Forward Closing on the Forward Closing Date, (i)

 

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the Forward Purchase Price shall be released
from escrow automatically and without further action by the Company or the Purchaser, and (ii) upon such release, the Company shall
issue the Forward Purchase Shares to the Purchaser in book-entry form, free and clear of any liens or other restrictions whatsoever
(other than those arising under state or federal securities laws), registered in the name of the Purchaser (or its nominee in accordance
with its delivery instructions), or to a custodian designated by the Purchaser, as applicable. In the event the Business Combination
Closing does not occur within five (5) Business Days of the date scheduled for closing, the Forward Closing shall not occur and
the Company shall promptly (but not later than one (1) Business Day thereafter) return the Forward Purchase Price to the Purchaser.
For purposes of this Agreement, “Business Day” means any day, other than a Saturday or a Sunday, that is neither
a legal holiday nor a day on which banking institutions are generally authorized or required by law or regulation to close in the
City of New York, New York.

 

(b)  Legends.  Each
register and book entry for the Forward Purchase Shares shall contain a notation, and each certificate (if any) evidencing the
Forward Purchase Shares shall be stamped or otherwise imprinted with a legend, in substantially the following form:

 

“THE SECURITIES REPRESENTED HEREBY HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION, AND MAY
NOT BE TRANSFERRED IN VIOLATION OF SUCH ACT AND LAWS. THE SALE, PLEDGE, HYPOTHECATION, OR TRANSFER OF THE SECURITIES REPRESENTED
HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS OF A CERTAIN FORWARD PURCHASE AGREEMENT BY AND BETWEEN THE HOLDER AND THE COMPANY.
COPIES OF SUCH AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY.”

 

2.  Representations
and Warranties of the Purchaser.  The Purchaser represents and warrants to the Company as follows, as of the date
hereof:

 

(a)  Organization
and Power.  The Purchaser is duly organized, validly existing, and in good standing under the laws of the jurisdiction
of its formation and has all requisite power and authority to carry on its business as presently conducted and as proposed to be
conducted.

 

(b)  Authorization.  The
Purchaser has full power and authority to enter into this Agreement. This Agreement, when executed and delivered by the Purchaser,
will constitute the valid and legally binding obligation of the Purchaser, enforceable against the Purchaser in accordance with
its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance and any
other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating
to the availability of specific performance, injunctive relief or other equitable remedies, or (iii) to the extent the indemnification
provisions contained in the Registration Rights (as defined below) may be limited by applicable federal or state securities laws.

 

(c)  Governmental
Consents and Filings.  No consent, approval, order or authorization of, or registration, qualification, designation,
declaration or filing with, any federal, state or local governmental authority is required on the part of the Purchaser in connection
with the consummation of the transactions contemplated by this Agreement.

 

(d)  Compliance
with Other Instruments.  The execution, delivery and performance by the Purchaser of this Agreement and the consummation
by the Purchaser of the transactions contemplated by this

 

    3

     

    

Agreement will not result in any violation
or default (i) of any provisions of its organizational documents, (ii) of any instrument, judgment, order, writ or decree to which
it is a party or by which it is bound, (iii) under any note, indenture or mortgage to which it is a party or by which it is bound,
(iv) under any lease, agreement, contract or purchase order to which it is a party or by which it is bound or (v) of any provision
of federal or state statute, rule or regulation applicable to the Purchaser, in each case (other than clause (i)), which would
have a material adverse effect on the Purchaser or its ability to consummate the transactions contemplated by this Agreement.

 

(e)  Purchase
Entirely for Own Account.  This Agreement is made with the Purchaser in reliance upon the Purchaser’s representation
to the Company, which by the Purchaser’s execution of this Agreement, the Purchaser hereby confirms, that the Forward Purchase
Shares to be acquired by the Purchaser will be acquired for investment for the Purchaser’s own account, not as a nominee
or agent, and not with a view to the resale or distribution of any part thereof in violation of any state or federal securities
laws, and that the Purchaser has no present intention of selling, granting any participation in, or otherwise distributing the
same in violation of law. By executing this Agreement, the Purchaser further represents that the Purchaser does not presently have
any contract, undertaking, agreement or arrangement with any Person to sell, transfer or grant participations to such Person or
to any third Person, with respect to any of the Forward Purchase Shares. For purposes of this Agreement, “Person”
means an individual, a limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated organization,
any other entity or any government or any department or agency thereof. Person does not include any affiliated entity of Purchaser.

 

(f)  Disclosure
of Information.  The Purchaser has had an opportunity to discuss the Company’s business, management, financial
affairs and the terms and conditions of the offering of the Forward Purchase Shares, as well as the terms of the Company’s
proposed IPO, with the Company’s management.

 

(g)  Restricted
Securities.  The Purchaser understands that the offer and sale of the Forward Purchase Shares to the Purchaser has
not been, and will not be, registered under the Securities Act of 1933, as amended (the “Securities Act”), by
reason of a specific exemption from the registration provisions of the Securities Act which depends upon, among other things, the
bona fide nature of the investment intent and the accuracy of the Purchaser’s representations as expressed herein. The Purchaser
understands that the Forward Purchase Shares are “restricted securities” under applicable U.S. federal and state securities
laws and that, pursuant to these laws, the Purchaser must hold the Forward Purchase Shares indefinitely unless they are registered
with the SEC and qualified by state authorities, or an exemption from such registration and qualification requirements is available.
The Purchaser acknowledges that the Company has no obligation to register or qualify the Forward Purchase Shares for resale, except
for the Registration Rights. The Purchaser further acknowledges that if an exemption from registration or qualification is available,
it may be conditioned on various requirements including, but not limited to, the time and manner of sale, the holding period for
the Forward Purchase Shares, and on requirements relating to the Company which are outside of the Purchaser’s control, and
which the Company is under no obligation and may not be able to satisfy. The Purchaser acknowledges that the Company will file
the Registration Statement for its proposed IPO. The Purchaser understands that the offering of the Forward Purchase Shares is
not, and is not intended to be, part of the IPO, and that the Purchaser will not be able to rely on the protection of Section 11
of the Securities Act with respect to the Forward Purchase Shares.

 

(h)  No
Public Market; IPO and Related Transactions.  The Purchaser understands that no public market now exists for the
Forward Purchase Shares, and that the Company has made no assurances that a public market will ever exist for the Forward Purchase
Shares. The Purchaser further understands that the terms of the proposed IPO and each of the transactions related thereto described
herein, including but not limited to the

 

    4

     

    

number and price of securities sold as well
as their structure and terms, are subject to adjustment and change in the discretion of the Company and its affiliates.

 

(i)  High
Degree of Risk.  The Purchaser understands that its agreement to purchase the Forward Purchase Shares involves a
high degree of risk which could cause the Purchaser to lose all or part of its investment.

 

(j)  Accredited
Investor.  The Purchaser is an accredited investor as defined in Rule 501(a) of Regulation D promulgated under the
Securities Act.

 

(k)  No
General Solicitation.  Neither the Purchaser, nor any of its officers, directors, employees, agents, stockholders
or partners has either directly or indirectly, including, through a broker or finder (i) engaged in any general solicitation, or
(ii) published any advertisement in connection with the offer and sale of the Forward Purchase Shares.

 

(l)  Residence.  The
Purchaser’s principal place of business is the office or offices located at the address of the Purchaser set forth on the
signature page hereof.

 

(m)  Non-Public
Information.  The Purchaser acknowledges its obligations under applicable securities laws with respect to the treatment
of non-public information relating to the Company.

 

(n)  Adequacy
of Financing.  At the time of the Forward Closing, the Purchaser will have available to it sufficient funds to satisfy
its obligations under this Agreement.

 

(o)  No
Other Representations and Warranties; Non-Reliance.  Except for the specific representations and warranties contained
in this Section 2 and in any certificate or agreement delivered pursuant hereto, none of the Purchaser nor any person acting on
behalf of the Purchaser nor any of the Purchaser’s affiliates (the “Purchaser Parties”) has made, makes
or shall be deemed to make any other express or implied representation or warranty with respect to the Purchaser and this offering,
and the Purchaser Parties disclaim any such representation or warranty. Except for the specific representations and warranties
expressly made by the Company in Section 3 of this Agreement and in any certificate or agreement delivered pursuant hereto, the
Purchaser Parties specifically disclaim that they are relying upon any other representations or warranties that may have been made
by the Company, any person on behalf of the Company or any of the Company’s affiliates (collectively, the “Company
Parties”).

 

3.  Representations
and Warranties of the Company.  The Company represents and warrants to the Purchaser as follows:

 

(a)  Incorporation
and Corporate Power. The Company is duly incorporated and validly existing and in good standing as a corporation under the
laws of the State of Delaware and has all requisite corporate power and authority to carry on its business as presently conducted
and as proposed to be conducted. The Company has no subsidiaries.

 

(b)  Capitalization.  On
the date hereof, the authorized share capital of the Company consists of:

 

(i)  200,000,000
Class A Shares, none of which are issued and outstanding.

 

    5

     

    

(ii)  20,000,000
shares of Class B common stock, par value $0.0001 per share, of the Company (the “Class B Shares”), 4,312,500
of which are issued and outstanding. All of the outstanding Class B Shares have been duly authorized, are fully paid and nonassessable
and were issued in compliance with all applicable federal and state securities laws.

 

(iii)  1,000,000
shares of undesignated preferred stock, none of which are issued and outstanding.

 

(c)  Authorization.  All
corporate action required to be taken by the Company’s Board of Directors and stockholders in order to authorize the Company
to enter into this Agreement and to issue the Forward Purchase Shares at the Forward Closing has been taken or will be taken prior
to the Forward Closing. All action on the part of the stockholders, directors and officers of the Company necessary for the execution
and delivery of this Agreement, the performance of all obligations of the Company under this Agreement to be performed as of the
Forward Closing, and the issuance and delivery of the Forward Purchase has been taken or will be taken prior to the Forward Closing.
This Agreement, when executed and delivered by the Company, shall constitute the valid and legally binding obligation of the Company,
enforceable against the Company in accordance with its terms except (i) as limited by applicable bankruptcy, insolvency, reorganization,
moratorium, fraudulent conveyance, or other laws of general application relating to or affecting the enforcement of creditors’
rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable
remedies, or (iii) to the extent the indemnification provisions contained in the Registration Rights may be limited by applicable
federal or state securities laws.

 

(d)  Valid
Issuance of Securities.  The Forward Purchase Shares, when issued, sold and delivered in accordance with the terms
and for the consideration set forth in this Agreement, will be validly issued, fully paid and nonassessable, as applicable, and
free of all preemptive or similar rights, taxes, liens, encumbrances and charges with respect to the issue thereof and restrictions
on transfer other than restrictions on transfer specified under this Agreement, applicable state and federal securities laws and
liens or encumbrances created by or imposed by the Purchaser. Assuming the accuracy of the representations of the Purchaser in
this Agreement and subject to the filings described in Section 3(e) below, the Forward Purchase Shares will be issued in
compliance with all applicable federal and state securities laws.

 

(e)  Governmental
Consents and Filings.  Assuming the accuracy of the representations and warranties made by the Purchaser in this
Agreement, no consent, approval, order or authorization of, or registration, qualification, designation, declaration or filing
with, any federal, state or local governmental authority is required on the part of the Company in connection with the consummation
of the transactions contemplated by this Agreement, except for filings pursuant to Regulation D of the Securities Act, and applicable
state securities laws, if any, and pursuant to the Registration Rights.

 

(f)  Compliance
with Other Instruments.  The execution, delivery and performance of this Agreement and the consummation of the transactions
contemplated by this Agreement will not result in any violation or default (i) of any provisions of the Company’s certificate
of incorporation, as it may be amended from time to time (the “Charter”), or other governing documents of the
Company, (ii) of any instrument, judgment, order, writ or decree to which the Company is a party or by which it is bound, (iii)
under any note, indenture or mortgage to which the Company is a party or by which it is bound, (iv) under any lease, agreement,
contract or purchase order to which the Company is a party or by which it is bound or (v) of any provision of federal or state
statute, rule or regulation applicable to the Company, in each case (other than clause (i)) which would have a material adverse
effect on the Company or its ability to consummate the transactions contemplated by this Agreement.

 

    6

     

    

(g)  Operations.  As
of the date hereof, the Company has not conducted, and prior to the IPO Closing the Company will not conduct, any operations other
than organizational activities and activities in connection with offerings of its securities.

 

(h)  No
General Solicitation.  Neither the Company, nor any of its officers, directors, employees, agents or stockholders
has either directly or indirectly, including, through a broker or finder (i) engaged in any general solicitation, or (ii) published
any advertisement in connection with the offer and sale of the Forward Purchase Shares.

 

(i)  No
Other Representations and Warranties; Non-Reliance.  Except for the specific representations and warranties contained
in this Section 3 and in any certificate or agreement delivered pursuant hereto, none of the Company Parties has made, makes or
shall be deemed to make any other express or implied representation or warranty with respect to the Company, this offering, the
proposed IPO or a potential Business Combination, and the Company Parties disclaim any such representation or warranty. Except
for the specific representations and warranties expressly made by the Purchaser in Section 2 of this Agreement and in any certificate
or agreement delivered pursuant hereto, the Company Parties specifically disclaim that they are relying upon any other representations
or warranties that may have been made by the Purchaser Parties.

 

4.  Registration
Rights; Transfer  

 

(a)  Registration
Rights.  The Purchaser has been or will be granted customary registration rights by the Company with respect to the
Forward Purchase Shares pursuant to a registration rights agreement to be entered into with the Company, a form of which has been
or will be filed with the registration statement relating to the Company’s IPO (the “Registration Rights”).

 

(b)  Transfer.  This
Agreement and all of the Purchaser’s rights and obligations hereunder (including the Purchaser’s obligation to purchase
the Forward Purchase Shares) may be transferred or assigned, at any time and from time to time, in whole or in part, to one or
more affiliates of the Purchaser (each such transferee, a “Transferee”). Upon any such assignment:

 

(i)  the
applicable Transferee shall execute a signature page to this Agreement, substantially in the form of the Purchaser’s signature
page hereto (the “Joinder Agreement”), which shall reflect the number of Forward Purchase Shares to be purchased
by such Transferee (the “Transferee Securities”), and, upon such execution, such Transferee shall have all the
same rights and obligations of the Purchaser hereunder with respect to the Transferee Securities, and references herein to the
“Purchaser” shall be deemed to refer to and include any such Transferee with respect to such Transferee and
to its Transferee Securities; provided, that any representations, warranties, covenants and agreements of the Purchaser and any
such Transferee shall be several and not joint and shall be made as to the Purchaser or any such Transferee, as applicable, as
to itself only; and

 

(ii)  upon
a Transferee’s execution and delivery of a Joinder Agreement, the number of Forward Purchase Shares to be purchased by the
Purchaser hereunder shall be reduced by the total number of Forward Purchase Shares to be purchased by the applicable Transferee
pursuant to the applicable Joinder Agreement, which reduction shall be evidenced by the Purchaser and the Company amending Schedule
A to this Agreement to reflect each transfer and updating the “Number of Forward Purchase Shares” and “Aggregate
Purchase Price for Forward Purchase Shares” on the Purchaser’s signature page hereto to reflect such reduced number
of Forward Purchase Shares, and the Purchaser shall be fully and unconditionally released from its obligation to purchase such
Transferee Securities hereunder. For the avoidance of doubt, this Agreement need

 

    7

     

    

not be amended and restated in its entirety,
but only Schedule A and the Purchaser’s signature page hereto need be so amended and updated and executed by each
of the Purchaser and the Company upon the occurrence of any such transfer of Transferee Securities.

 

5.  Additional
Agreements, Acknowledgements and Waivers of the Purchaser.

 

(a)  Lock-up;
Transfer Restrictions.  The Purchaser agrees that it shall not Transfer any Forward Purchase Shares until 30 days
after the completion of the initial Business Combination. Notwithstanding the foregoing, Transfers of the Forward Purchase Shares
are permitted (any such transferees, the “Permitted Transferees”): (A) to the Company’s officers or directors,
any affiliates or family members of any of the Company’s officers or directors, any members of the Purchaser, or any affiliates
of the Purchaser; (B) in the case of an individual, by gift to a member of the individual’s immediate family, to a trust,
the beneficiary of which is a member of individual’s immediate family or an affiliate of such person, or to a charitable
organization; (C) in the case of an individual, by virtue of laws of descent and distribution upon death of the individual; (D)
in the case of an individual, pursuant to a qualified domestic relations order; (E) in the event of the Company’s liquidation,
merger, share exchange, reorganization or other similar transaction which results in all of the Company’s stockholders having
the right to exchange their Class A Shares for cash, securities or other property subsequent to the completion of a Business Combination;
(F) as a distribution to limited partners, members or stockholders of the Purchaser; (G) to a nominee or custodian of a person
or entity to whom a disposition or transfer would be permissible under clauses (A) through (F) above; provided, however,
that in each case, these Permitted Transferees must enter into a written agreement agreeing to be bound by these transfer restrictions.
“Transfer” shall mean the (x) sale or assignment of, offer to sell, contract or agreement to sell, hypothecation,
pledge, grant of any option to purchase or otherwise dispose of or agreement to 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 SEC promulgated thereunder) with respect to, any of the
Forward Purchase Shares (excluding any pledges in the ordinary course of business for bona fide financing purposes or as part of
prime brokerage arrangements), (y) 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 of the Forward Purchase Shares, whether any such transaction is to be settled
by delivery of such Forward Purchase Shares, in cash or otherwise, or (z) public announcement of any intention to effect any transaction
specified in clause (x) or (y).

 

(b)  Trust
Account.  

 

(i)  The
Purchaser hereby acknowledges that it is aware that the Company will establish the Trust Account for the benefit of its public
stockholders upon the IPO Closing. The Purchaser, for itself and its affiliates, hereby agrees that it has no right, title, interest
or claim of any kind in or to any monies held in the Trust Account, or any other asset of the Company as a result of any liquidation
of the Company, except for redemption and liquidation rights, if any, the Purchaser may have in respect of any Public Shares held
by it.

 

(ii)  The
Purchaser hereby agrees that it shall have no right of set-off or any right, title, interest or claim of any kind (“Claim”)
to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account
that it may have now or in the future, except for redemption and liquidation rights, if any, the Purchaser may have in respect
of any Public Shares held by it. In the event the Purchaser has any Claim against the Company under this Agreement, the Purchaser
shall pursue such Claim solely against the Company and its assets outside the Trust Account and not against the property or any
monies in the Trust Account, except for redemption and liquidation rights, if any, the Purchaser may have in respect of any Public
Shares held by it.

 

    8

     

    

6.  NASDAQ
Listing.  The Company will use commercially reasonable efforts to effect the listing of the Class A Shares and Public
Warrants on the Nasdaq Capital Market (or another national securities exchange) at the time of the Business Combination Closing.

 

7.  Forward
Closing Conditions.  

 

(a)  The
obligation of the Purchaser to purchase the Forward Purchase Shares at the Forward Closing under this Agreement shall be subject
to the fulfillment, at or prior to the Forward Closing of each of the following conditions, any of which, to the extent permitted
by applicable laws, may be waived by the Purchaser:

 

(i)  The
Business Combination shall be consummated substantially concurrently with the purchase of the Forward Purchase Shares, on terms
materially identical to those set forth in the Initial Company Notice;

 

(ii)  The
Purchaser and any applicable Transferee shall have obtained the approval of its respective investment committee to consummate the
purchase of the Forward Purchase Shares hereunder;

 

(iii)  The
Company shall have delivered to the Purchaser a certificate evidencing the Company’s good standing as a Delaware corporation;

 

(iv)  The
representations and warranties of the Company set forth in Section 3 of this Agreement shall have been true and correct as of the
date hereof and shall be true and correct as of the Forward Closing Date, as applicable, with the same effect as though such representations
and warranties had been made on and as of such date (other than any such representation or warranty that is made by its terms as
of a specified date, which shall be true and correct as of such specified date), except where the failure to be so true and correct
would not have a material adverse effect on the Company or its ability to consummate the transactions contemplated by this Agreement;

 

(v)  The
Company shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions required
by this Agreement to be performed, satisfied or complied with by the Company at or prior to the Forward Closing; and

 

(vi)  No
order, writ, judgment, injunction, decree, determination, or award shall have been entered by or with any governmental, regulatory,
or administrative authority or any court, tribunal, or judicial, or arbitral body, and no other legal restraint or prohibition
shall be in effect, preventing the purchase by the Purchaser of the Forward Purchase Shares.

 

(b)  The
obligation of the Company to sell the Forward Purchase Shares at the Forward Closing under this Agreement shall be subject to the
fulfillment, at or prior to the Forward Closing of each of the following conditions, any of which, to the extent permitted by applicable
laws, may be waived by the Company:

 

(i)  The
Business Combination shall be consummated substantially concurrently with the purchase of Forward Purchase Shares;

 

(ii)  The
representations and warranties of the Purchaser set forth in Section 2 of this Agreement shall have been true and correct as of
the date hereof and shall be true and correct as of the Forward Closing Date, as applicable, with the same effect as though such
representations and warranties had been made

 

    9

     

    

on and as of such date (other than any such
representation or warranty that is made by its terms as of a specified date, which shall be true and correct as of such specified
date), except where the failure to be so true and correct would not have a material adverse effect on the Purchaser or its ability
to consummate the transactions contemplated by this Agreement;

 

(iii)  The
Purchaser shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions required
by this Agreement to be performed, satisfied or complied with by the Purchaser at or prior to the Forward Closing; and

 

(iv)  No
order, writ, judgment, injunction, decree, determination, or award shall have been entered by or with any governmental, regulatory,
or administrative authority or any court, tribunal, or judicial, or arbitral body, and no other legal restraint or prohibition
shall be in effect, preventing the purchase by the Purchaser of the Forward Purchase Shares.

 

8.  Termination.  This
Agreement may be terminated at any time prior to the Forward Closing:

 

(a)  by
mutual written consent of the Company and the Purchaser;

 

(b)  automatically

 

(i)  if
the IPO is not consummated on or prior to twelve months from the date of this Agreement; or

 

(ii)  if
the Business Combination is not consummated within 30 months from the closing of the IPO, or such later date as may be approved
by the Company’s stockholders.

 

In the event of any termination of this
Agreement pursuant to this Section 8, the Forward Purchase Price (and interest thereon, if any), if previously paid, and
all Purchaser’s funds paid in connection herewith shall be promptly returned to the Purchaser, and thereafter this Agreement
shall forthwith become null and void and have no effect, without any liability on the part of the Purchaser or the Company and
their respective directors, officers, employees, partners, managers, members, or stockholders and all rights and obligations of
each party shall cease; provided, however, that nothing contained in this Section 8 shall relieve either party
from liabilities or damages arising out of any fraud or willful breach by such party of any of its representations, warranties,
covenants or agreements contained in this Agreement.

 

9.  General
Provisions.  

 

(a)  Notices.  All
notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given
upon the earlier of actual receipt, or (i) personal delivery to the party to be notified, (ii) when sent, if sent by electronic
mail or facsimile (if any) during normal business hours of the recipient, and if not sent during normal business hours, then on
the recipient’s next Business Day, (iii) five (5) Business Days after having been sent by registered or certified mail, return
receipt requested, postage prepaid, or (iv) one (1) Business Day after deposit with a nationally recognized overnight courier,
freight prepaid, specifying next Business Day delivery, with written verification of receipt. All communications sent to the Company
shall be sent to: Bilander Acquisition Corp., Four Embarcadero Center, Suite 2100, San Francisco, CA 94111, Attn: Rufina Adams,
Chief Financial Officer, email: rufina@truewindcapital.com, with a copy to the Company’s counsel at: Davis Polk &
Wardwell LLP, 450 Lexington Avenue, New York, NY 10017, Attn: Yan Zhang, Esq.., email: yan.zhang@davispolk.com.

 

    10

     

    

All communications to the Purchaser shall
be sent to the Purchaser’s address as set forth on the signature page hereof, or to such e-mail address, facsimile number
(if any) or address as subsequently modified by written notice given in accordance with this Section 9(a).

 

(b)  No
Finder’s Fees.  Each party represents that it neither is nor will be obligated for any finder’s fee or
commission in connection with this transaction. The Purchaser agrees to indemnify and to hold harmless the Company from any liability
for any commission or compensation in the nature of a finder’s or broker’s fee arising out of this transaction (and
the costs and expenses of defending against such liability or asserted liability) for which the Purchaser or any of its officers,
employees or representatives is responsible. The Company agrees to indemnify and hold harmless the Purchaser from any liability
for any commission or compensation in the nature of a finder’s or broker’s fee arising out of this transaction (and
the costs and expenses of defending against such liability or asserted liability) for which the Company or any of its officers,
employees or representatives is responsible.

 

(c)  Survival
of Representations and Warranties.  All of the representations and warranties contained herein shall survive the
Forward Closing.

 

(d)  Entire
Agreement.  This Agreement, together with any documents, instruments and writings that are delivered pursuant hereto
or referenced herein, constitutes the entire agreement and understanding of the parties hereto in respect of its subject matter
and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the
extent they relate in any way to the subject matter hereof or the transactions contemplated hereby.

 

(e)  Successors.  All
of the terms, agreements, covenants, representations, warranties, and conditions of this Agreement are binding upon, and inure
to the benefit of and are enforceable by, the parties hereto and their respective successors. Nothing in this Agreement, express
or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights,
remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

 

(f)  Assignments.  Except
as otherwise specifically provided herein, no party hereto may assign either this Agreement or any of its rights, interests, or
obligations hereunder without the prior written approval of the other party.

 

(g)  Counterparts.  This
Agreement may be executed (including via e-signature) in two or more counterparts, each of which will be deemed an original but
all of which together will constitute one and the same instrument.

 

(h)  Headings.  The
section headings contained in this Agreement are inserted for convenience only and will not affect in any way the meaning or interpretation
of this Agreement.

 

(i)  Governing
Law.  This Agreement, the entire relationship of the parties hereto, and any dispute between the parties (whether
grounded in contract, tort, statute, law or equity) shall be governed by, construed in accordance with, and interpreted pursuant
to the laws of the State of New York, without giving effect to its choice of laws principles.

 

(j)  Jurisdiction.  The
parties (i) hereby irrevocably and unconditionally submit to the jurisdiction of the state courts of New York and to the jurisdiction
of the United States District Court for the Southern District of New York for the purpose of any suit, action or other proceeding
arising out of or based

 

    11

     

    

upon this Agreement, (ii) agree not to commence
any suit, action or other proceeding arising out of or based upon this Agreement except in state courts of New York or the United
States District Court for the Southern District of New York, and (iii) hereby waive, and agree not to assert, by way of motion,
as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction
of the above-named courts, that its property is exempt or immune from attachment or execution, that the suit, action or proceeding
is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the
subject matter hereof may not be enforced in or by such court.

 

(k)  Waiver
of Jury Trial.  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.

 

(l)  Amendments.  This
Agreement may not be amended, modified or waived as to any particular provision except with the prior written consent of the Company
and the Purchaser.

 

(m)  Severability.  The
provisions of this Agreement will be deemed severable and the invalidity or unenforceability of any provision will not affect the
validity or enforceability of the other provisions hereof; provided, that if any provision of this Agreement, as applied
to any party hereto or to any circumstance, is adjudged by a governmental authority, arbitrator, or mediator not to be enforceable
in accordance with its terms, the parties hereto agree that the governmental authority, arbitrator, or mediator making such determination
will have the power to modify the provision in a manner consistent with its objectives such that it is enforceable, and/or to delete
specific words or phrases, and in its reduced form, such provision will then be enforceable and will be enforced.

 

(n)  Expenses.  Each
of the Company and the Purchaser will bear its own costs and expenses incurred in connection with the preparation, execution and
performance of this Agreement and the consummation of the transactions contemplated hereby, including all fees and expenses of
agents, representatives, financial advisors, legal counsel and accountants. The Company shall be responsible for the fees of its
transfer agent; stamp taxes and all of The Depository Trust Company’s fees associated with the issuance of the Forward Purchase
Shares.

 

(o)  Construction.  The
parties hereto have participated jointly in the negotiation and drafting of this Agreement. If an ambiguity or question of intent
or interpretation arises, this Agreement will be construed as if drafted jointly by the parties hereto and no presumption or burden
of proof will arise favoring or disfavoring any party hereto because of the authorship of any provision of this Agreement. Any
reference to any federal, state, local, or foreign law will be deemed also to refer to law as amended and all rules and regulations
promulgated thereunder, unless the context requires otherwise. The words “include,” “includes,”
and “including” will be deemed to be followed by “without limitation.” Pronouns in masculine, feminine,
and neuter genders will be construed to include any other gender, and words in the singular form will be construed to include the
plural and vice versa, unless the context otherwise requires. The words “this Agreement,” “herein,”
“hereof,” “hereby,” “hereunder,” and words of similar import refer to
this Agreement as a whole and not to any particular subdivision unless expressly so limited. The parties hereto intend that each
representation, warranty, and covenant contained herein will have independent significance. If any party hereto has breached any
representation, warranty, or covenant contained herein in any respect, the fact that there exists another representation, warranty
or covenant relating to the same subject matter (regardless of the relative levels of specificity) which such party hereto has
not breached will not detract from or mitigate the fact that such party hereto is in breach of the first representation, warranty,
or covenant.

 

    12

     

    

(p)  Waiver.  No
waiver by any party hereto of any default, misrepresentation, or breach of warranty or covenant hereunder, whether intentional
or not, may be deemed to extend to any prior or subsequent default, misrepresentation, or breach of warranty or covenant hereunder
or affect in any way any rights arising because of any prior or subsequent occurrence.

 

(q)  Specific
Performance.  The Purchaser agrees that irreparable damage may occur in the event any provision of this Agreement
was not performed by the Purchaser in accordance with the terms hereof and that the Company shall be entitled to specific performance
of the terms hereof, in addition to any other remedy at law or equity.

 

[Signature Page Follows]

 

    13

     

    

IN WITNESS WHEREOF, the undersigned
have executed this Agreement to be effective as of the date first set forth above.

 

	PURCHASER: [     ]	 
	 	 
	 	 
	By:	 	 
	Name:	 	 
	Title:	Chief Executive Officer	 

Address for Notices :

 

[     ]

 

With a copy to

 

[     ]

 

	
        COMPANY:

         

        BILANDER ACQUISITION CORP.

         
	 
	 	 
	By:	 	 
	Name:	James H. Greene, Jr. 	 
	Title:	Chief Executive Officer	 

 

    14

     

    

TO BE EXECUTED UPON ANY ASSIGNMENT IN ACCORDANCE WITH THIS
AGREEMENT TO “NUMBER OF FORWARD PURCHASE SHARES” AND “AGGREGATE PURCHASE PRICE FOR FORWARD PURCHASE SHARES”
SET FORTH BELOW

 

	Number of Forward Purchase Shares:	 
	 	 
	Aggregate Purchase Price for Forward Purchase Shares:	$               

 

Number of Forward Purchase Shares and Aggregate Purchase Price
for Forward Purchase Shares as of, 202

[   ], accepted and agreed to as of this   day
of   , 202[ ].

 

	 	[       ]

	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	 	 

	 	BILANDER ACQUISITION CORP.

	 	By:	 
	 	Name:	 
	 	Title:	 

 

    15

     

    

SCHEDULE A

SCHEDULE OF TRANSFERS OF FORWARD PURCHASE SHARES

 

The following transfers of a portion of
the original number of Forward Purchase Shares have been made:

 

	
 

	
 

	
 

	
 

	Date of Transfer	Transferee	Number of Forward Purchase Shares Transferred	Purchaser Revised Forward Purchase Shares Amount

 

    A-1

     

    

TO BE EXECUTED UPON ANY ASSIGNMENT OF FORWARD PURCHASE
SHARES:

 

Schedule A as of     
, 202[     ], accepted and agreed to as of this    day of   ,
202[      ] by:

 

	[         ]	 	BILANDER ACQUISITION CORP.
	 	 	 
	 	 	 
	By:	 	 	By:	 
	Name:	 	 	Name:	 
	Title:	 	 	Title:	 

 

    A-2

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