Document:

Exhibit 4.2

 

AMERICAN DEPOSITARY SHARES

(Each American Depositary Share represents

10 deposited Shares)

 

THE BANK OF NEW YORK MELLON

AMERICAN DEPOSITARY RECEIPT

FOR ORDINARY SHARES OF

MDXHEALTH SA

(INCORPORATED UNDER THE LAWS OF BELGIUM)

 

The Bank of New York Mellon, as depositary (hereinafter
called the “Depositary”), hereby certifies that_________________________________________, or registered assigns IS THE OWNER
OF _____________________________

 

AMERICAN DEPOSITARY SHARES

 

representing deposited ordinary shares (herein
called “Shares”) of MDxHealth SA, incorporated under the laws of Belgium (herein called the “Company”).
At the date hereof, each American Depositary Share represents 10 Shares deposited or subject to deposit under the Deposit Agreement (as
such term is hereinafter defined) with a custodian for the Depositary (herein called the “Custodian”) that, as of the
date of the Deposit Agreement, was ING Belgium SA/NV located in Belgium. The Depositary’s Office and its principal executive office
are located at 240 Greenwich Street, New York, N.Y. 10286.

 

THE DEPOSITARY’S OFFICE ADDRESS IS

240 GREENWICH STREET, NEW YORK, N.Y. 10286

 

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 1. THE DEPOSIT AGREEMENT.

 

This American Depositary Receipt is one of an
issue (herein called “Receipts”), all issued and to be issued upon the terms and conditions set forth in the Deposit
Agreement dated as of __________, 2021 (herein called the “Deposit Agreement”) among the Company, the Depositary, and
all Owners and Holders from time to time of American Depositary Shares issued thereunder, each of whom by accepting American Depositary
Shares agrees to become a party thereto and become bound by all the terms and conditions thereof. The Deposit Agreement sets forth the
rights of Owners and Holders and the rights and duties of the Depositary in respect of the Shares deposited thereunder and any and all
other securities, property and cash from time to time received in respect of those Shares and held thereunder (those Shares, securities,
property, and cash are herein called “Deposited Securities”). Copies of the Deposit Agreement are on file at the Depositary’s
Office in New York City and at the office of the Custodian.

 

The statements made on the face and reverse of
this Receipt are summaries of certain provisions of the Deposit Agreement and are qualified by and subject to the detailed provisions
of the Deposit Agreement, to which reference is hereby made. Capitalized terms defined in the Deposit Agreement and not defined herein
shall have the meanings set forth in the Deposit Agreement.

 

 2. SURRENDER OF AMERICAN DEPOSITARY SHARES AND WITHDRAWAL OF SHARES.

 

Upon surrender of American Depositary Shares for
the purpose of withdrawal of the Deposited Securities represented thereby and payment of the fee of the Depositary for the surrender of
American Depositary Shares as provided in Section 5.9 of the Deposit Agreement and payment of all taxes and governmental charges payable
in connection with that surrender and withdrawal of the Deposited Securities, and subject to the terms and conditions of the Deposit Agreement,
the Owner of those American Depositary Shares shall be entitled to delivery (to the extent delivery can then be lawfully and practicably
made), to or as instructed by that Owner, of the amount of Deposited Securities at the time represented by those American Depositary Shares,
but not any money or other property as to which a record date for distribution to Owners has passed (since money or other property
of that kind will be delivered or paid on the scheduled payment date to the Owner as of that record date), and except that the
Depositary shall not be required to accept surrender of American Depositary Shares for the purpose of withdrawal to the extent it would
require delivery of a fraction of a Deposited Security. The Depositary shall direct the Custodian with respect to delivery of Deposited
Securities and may charge the surrendering Owner a fee and its expenses for giving that direction by cable (including SWIFT) or facsimile
transmission. If Deposited Securities are delivered physically (to the extent permitted by law) upon surrender of American Depositary
Shares for the purpose of withdrawal, that delivery will be made at the Custodian’s office, except that, at the request,
risk and expense of the surrendering Owner, and for the account of that Owner, the Depositary shall direct the Custodian to forward any
cash or other property comprising, and forward a certificate or certificates, if applicable, and other proper documents of title, if any,
for, the Deposited Securities represented by the surrendered American Depositary Shares to the Depositary for delivery at the Depositary’s
Office or to another address specified in the order received from the surrendering Owner.

 

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 3. REGISTRATION OF TRANSFER OF AMERICAN DEPOSITARY SHARES; COMBINATION AND SPLIT-UP OF RECEIPTS; INTERCHANGE OF CERTIFICATED AND UNCERTIFICATED AMERICAN DEPOSITARY SHARES.

 

The Depositary, subject to the terms and conditions
of the Deposit Agreement, shall register a transfer of American Depositary Shares on its transfer books upon (i) in the case of certificated
American Depositary Shares, surrender of the Receipt evidencing those American Depositary Shares, by the Owner or by a duly authorized
attorney, properly endorsed or accompanied by proper instruments of transfer or (ii) in the case of uncertificated American Depositary
Shares, receipt from the Owner of a proper instruction (including, for the avoidance of doubt, instructions through DRS and Profile as
provided in Section 2.9 of that Deposit Agreement), and, in either case, duly stamped as may be required by the laws of the State of New
York and of the United States of America. Upon registration of a transfer, the Depositary shall deliver the transferred American Depositary
Shares to or upon the order of the person entitled thereto.

 

The Depositary, subject to the terms and conditions
of the Deposit Agreement, shall upon surrender of a Receipt or Receipts for the purpose of effecting a split-up or combination of such
Receipt or Receipts, execute and deliver a new Receipt or Receipts for any authorized number of American Depositary Shares requested,
evidencing the same aggregate number of American Depositary Shares as the Receipt or Receipts surrendered.

 

The Depositary, upon surrender of certificated
American Depositary Shares for the purpose of exchanging for uncertificated American Depositary Shares, shall cancel the Receipt evidencing
those certificated American Depositary Shares and send the Owner a statement confirming that the Owner is the owner of the same number
of uncertificated American Depositary Shares. The Depositary, upon receipt of a proper instruction (including, for the avoidance of doubt,
instructions through DRS and Profile as provided in Section 2.9 of the Deposit Agreement) from the Owner of uncertificated American Depositary
Shares for the purpose of exchanging for certificated American Depositary Shares, shall cancel those uncertificated American Depositary
Shares and register and deliver to the Owner a Receipt evidencing the same number of certificated American Depositary Shares.

 

As a condition precedent to the delivery, registration
of transfer, or surrender of any American Depositary Shares or split-up or combination of any Receipt or withdrawal of any Deposited Securities,
the Depositary, the Custodian, or Registrar may require payment from the depositor of the Shares or the presenter of the Receipt or instruction
for registration of transfer or surrender of American Depositary Shares not evidenced by a Receipt of a sum sufficient to reimburse it
for any tax or other governmental charge and any stock transfer or registration fee with respect thereto (including any such tax or charge
and fee with respect to Shares being deposited or withdrawn) and payment of any applicable fees as provided in the Deposit Agreement,
may require the production of proof satisfactory to it as to the identity and genuineness of any signature and may also require compliance
with any regulations the Depositary may establish consistent with the provisions of the Deposit Agreement.

 

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The Depositary may refuse to accept deposits of
Shares for delivery of American Depositary Shares or to register transfers of American Depositary Shares in particular instances, or may
suspend deposits of Shares or registration of transfer generally, whenever it or the Company considers it necessary or advisable to do
so. The Depositary may refuse surrenders of American Depositary Shares for the purpose of withdrawal of Deposited Securities in particular
instances, or may suspend surrenders for the purpose of withdrawal generally, but, notwithstanding anything to the contrary in the
Deposit Agreement, only for (i) temporary delays caused by closing of the Depositary’s register or the register of holders of
Shares maintained by the Company or the Foreign Registrar, or the deposit of Shares, in connection with voting at a shareholders’
meeting or the payment of dividends, (ii) the payment of fees, taxes and similar charges, (iii) compliance with any U.S. or foreign laws
or governmental regulations relating to the American Depositary Shares or to the withdrawal of the Deposited Securities or (iv) any other
reason that, at the time, is permitted under paragraph I(A)(1) of the General Instructions to Form F-6 under the Securities Act of 1933
or any successor to that provision.

 

The Depositary shall not knowingly accept for
deposit under the Deposit Agreement any Shares that, at the time of deposit, are Restricted Securities.

 

 4. LIABILITY OF OWNER FOR TAXES.

 

If any tax or other governmental charge shall
become payable by the Custodian or the Depositary with respect to or in connection with any American Depositary Shares or any Deposited
Securities represented by any American Depositary Shares or in connection with a transaction to which Section 4.8 of the Deposit Agreement
applies, that tax or other governmental charge shall be payable by the Owner of those American Depositary Shares to the Depositary. The
Depositary may refuse to register any transfer of those American Depositary Shares or any withdrawal of Deposited Securities represented
by those American Depositary Shares until that payment is made, and may withhold any dividends or other distributions or the proceeds
thereof, or may sell for the account of the Owner any part or all of the Deposited Securities represented by those American Depositary
Shares, and may apply those dividends or other distributions or the net proceeds of any sale of that kind in payment of that tax or other
governmental charge but, even after a sale of that kind, the Owner shall remain liable for any deficiency. The Depositary shall distribute
any net proceeds of a sale made under Section 3.2 of the Deposit Agreement that are not used to pay taxes or governmental charges to the
Owners entitled to them in accordance with Section 4.1 of the Deposit Agreement. If the number of Shares represented by each American
Depositary Share decreases as a result of a sale of Deposited Securities under Section 3.2 of the Deposit Agreement, the Depositary may
call for surrender of the American Depositary Shares to be exchanged on a mandatory basis for a lesser number of American Depositary Shares
and may sell American Depositary Shares to the extent necessary to avoid distributing fractions of American Depositary Shares in that
exchange and distribute the net proceeds of that sale to the Owners entitled to them.

 

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 5. WARRANTIES ON DEPOSIT OF SHARES.

 

Every person depositing Shares under the Deposit
Agreement shall be deemed thereby to represent and warrant that those Shares and each certificate therefor, if applicable, are validly
issued, fully paid and nonassessable and were not issued in violation of any preemptive or similar rights of the holders of outstanding
securities of the Company and that the person making that deposit is duly authorized so to do. Every depositing person shall also be deemed
to represent that the Shares, at the time of deposit, are not Restricted Securities. All representations and warranties deemed made under
Section 3.3 of the Deposit Agreement shall survive the deposit of Shares and delivery of American Depositary Shares.

 

 6. FILING PROOFS, CERTIFICATES, AND OTHER INFORMATION.

 

Any person presenting Shares for deposit or any
Owner or Holder may be required from time to time to file with the Depositary or the Custodian such proof of citizenship or residence,
exchange control approval, or such information relating to the registration on the books of the Company or the Foreign Registrar, if applicable,
to execute such certificates and to make such representations and warranties, as the Depositary may deem necessary or proper. The Depositary
may withhold the delivery or registration of transfer of any American Depositary Shares, the distribution of any dividend or other distribution
or of the proceeds thereof or the delivery of any Deposited Securities until that proof or other information is filed or those certificates
are executed or those representations and warranties are made. As conditions of accepting Shares for deposit, the Depositary may require
(i) any certification required by the Depositary or the Custodian in accordance with the provisions of the Deposit Agreement, (ii) a written
order directing the Depositary to deliver to, or upon the written order of, the person or persons stated in that order, the number of
American Depositary Shares representing those Deposited Shares, (iii) evidence satisfactory to the Depositary that those Shares have been
re-registered in the books of the Company or the Foreign Registrar in the name of the Depositary, a Custodian or a nominee of the Depositary
or a Custodian, (iv) evidence satisfactory to the Depositary that any necessary approval has been granted by any relevant governmental
body in each applicable jurisdiction and (v) an agreement or assignment, or other instrument satisfactory to the Depositary, that provides
for the prompt transfer to the Custodian of any dividend, or right to subscribe for additional Shares or to receive other property, that
any person in whose name those Shares are or have been recorded may thereafter receive upon or in respect of those Shares, or, in lieu
thereof, such agreement of indemnity or other agreement as shall be satisfactory to the Depositary.

 

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 7. CHARGES OF DEPOSITARY.

 

The following charges shall be incurred by any
party depositing or withdrawing Shares or by any party surrendering American Depositary Shares or to whom American Depositary Shares are
issued (including, without limitation, issuance pursuant to a stock dividend or stock split declared by the Company or an exchange of
stock regarding the American Depositary Shares or Deposited Securities or a delivery of American Depositary Shares pursuant to Section
4.3 of the Deposit Agreement), or by Owners, as applicable: (1) taxes and other governmental charges, (2) such registration fees as may
from time to time be in effect for the registration of transfers of Shares generally on the Share register of the Company or Foreign Registrar
and applicable to transfers of Shares to or from the name of the Depositary or its nominee or the Custodian or its nominee on the making
of deposits or withdrawals hereunder, (3) such cable (including SWIFT) and facsimile transmission fees and expenses as are expressly provided
in the Deposit Agreement, (4) such expenses as are incurred by the Depositary in the conversion of foreign currency pursuant to Section
4.5 of the Deposit Agreement, (5) a fee of $5.00 or less per 100 American Depositary Shares (or portion thereof) for the delivery of American
Depositary Shares pursuant to Section 2.3, 4.3 or 4.4 of the Deposit Agreement and the surrender of American Depositary Shares pursuant
to Section 2.5 or 6.2 of the Deposit Agreement, (6) a fee of $.05 or less per American Depositary Share (or portion thereof) for any cash
distribution made pursuant to the Deposit Agreement, including, but not limited to Sections 4.1 through 4.4 and 4.8 of the Deposit Agreement,
(7) a fee for the distribution of securities pursuant to Section 4.2 of the Deposit Agreement or of rights pursuant to Section 4.4 of
the Deposit Agreement (where the Depositary will not exercise or sell those rights on behalf of Owners), such fee being in an amount equal
to the fee for the execution and delivery of American Depositary Shares referred to above which would have been charged as a result of
the deposit of such securities under the Deposit Agreement (for purposes of this item 7 treating all such securities as if they were Shares)
but which securities are instead distributed by the Depositary to Owners, (8) in addition to any fee charged under item 6, a fee of $.05
or less per American Depositary Share (or portion thereof) per annum for depositary services, which will be payable as provided in item
9 below, and (9) any other charges payable by the Depositary or the Custodian, any of the Depositary’s or Custodian’s agents
or the agents of the Depositary’s or Custodian’s agents, in connection with the servicing of Shares or other Deposited Securities
(which charges shall be assessed against Owners as of the date or dates set by the Depositary in accordance with Section 4.6 of the Deposit
Agreement and shall be payable at the sole discretion of the Depositary by billing those Owners for those charges or by deducting those
charges from one or more cash dividends or other cash distributions).

 

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The Depositary may collect any of its fees by
deduction from any cash distribution payable, or by selling a portion of any securities to be distributed, to Owners that are obligated
to pay those fees.

 

The Depositary may own and deal in any class of
securities of the Company and its affiliates and in American Depositary Shares.

 

From time to time, the Depositary may make payments
to the Company to reimburse the Company for costs and expenses generally arising out of establishment and maintenance of the American
Depositary Shares program, waive fees and expenses for services provided by the Depositary or share revenue from the fees collected from
Owners or Holders. In performing its duties under the Deposit Agreement, the Depositary may use brokers, dealers, foreign currency dealers
or other service providers that are owned by or affiliated with the Depositary and that may earn or share fees, spreads or commissions.

 

 8. DISCLOSURE OF INTERESTS.

 

When required in order to comply with applicable
laws and regulations or the articles of association or similar document of the Company, the Company may from time to time request each
Owner and Holder to provide to the Depositary information relating to: (a) the capacity in which it holds American Depositary
Shares, (b) the identity of any Holders or other persons or entities then or previously interested in those American Depositary
Shares and the nature of those interests and (c) any other matter where disclosure of such matter is, in the Company’s
reasonable opinion, required for that compliance.   Each Owner and Holder agrees to provide all information known to it in response
to a request made pursuant to Section 3.4 of the Deposit Agreement.  Each Holder consents to the disclosure by the Depositary
and the Owner or other Holder through which it holds American Depositary Shares, directly or indirectly, of all information responsive
to a request made pursuant to that Section relating to that Holder that is known to that Owner or other Holder. Each Owner and
Holder further agrees to comply with the laws and regulations of the United States and Belgium (if and to the extent applicable) with
respect to the disclosure requirements regarding beneficial ownership of Shares, all as if the American Depositary Shares were the Shares
represented thereby, including, inter alia, requirements to make notifications and filings within the required timeframes to the
Company, to the Board of Directors of the Company, to the Commission, to the Belgian Financial Services and Markets Authority and any
other applicable required authorities in the United States or in Belgium.

 

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 9. TITLE TO AMERICAN DEPOSITARY SHARES.

 

It is a condition of the American Depositary Shares,
and every successive Owner and Holder of American Depositary Shares, by accepting or holding the same, consents and agrees that American
Depositary Shares evidenced by a Receipt, when the Receipt is properly endorsed or accompanied by proper instruments of transfer, shall
be transferable as certificated registered securities under the laws of the State of New York, and that American Depositary Shares not
evidenced by Receipts shall be transferable as uncertificated registered securities under the laws of the State of New York. The Depositary,
notwithstanding any notice to the contrary, may treat the Owner of American Depositary Shares as the absolute owner thereof for the purpose
of determining the person entitled to distribution of dividends or other distributions or to any notice provided for in the Deposit Agreement
and for all other purposes, and neither the Depositary nor the Company shall have any obligation or be subject to any liability under
the Deposit Agreement to any Holder of American Depositary Shares, but only to the Owner.

 

 10. VALIDITY OF RECEIPT.

 

This Receipt shall not be entitled to any benefits
under the Deposit Agreement or be valid or obligatory for any purpose, unless this Receipt shall have been (i) executed by the Depositary
by the manual signature of a duly authorized officer of the Depositary or (ii) executed by the facsimile signature of a duly authorized
officer of the Depositary and countersigned by the manual signature of a duly authorized signatory of the Depositary or the Registrar
or a co-registrar.

 

 11. REPORTS; INSPECTION OF TRANSFER BOOKS.

 

The Company is subject to the periodic reporting
requirements of the Securities Exchange Act of 1934 and, accordingly, files certain reports with the Securities and Exchange Commission.
Those reports will be available for inspection and copying through the Commission’s EDGAR system or at public reference facilities
maintained by the Commission in Washington, D.C.

 

The Depositary will make available for inspection
by Owners at its Office any reports, notices and other communications, including any proxy soliciting material, received from the Company
which are both (a) received by the Depositary as the holder of the Deposited Securities and (b) made generally available to
the holders of those Deposited Securities by the Company. The Company shall furnish reports and communications, including any proxy soliciting
material to which Section 4.9 of the Deposit Agreement applies, to the Depositary in English, to the extent such materials are required
to be translated into English pursuant to any regulations of the Commission.

 

The Depositary will maintain a register of American
Depositary Shares and transfers of American Depositary Shares, which shall be open for inspection by the Owners at the Depositary’s
Office during regular business hours, but only for the purpose of communicating with Owners regarding the business of the Company or a
matter related to the Deposit Agreement or the American Depositary Shares.

 

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 12. DIVIDENDS AND DISTRIBUTIONS.

 

Whenever the Depositary receives any cash dividend
or other cash distribution on Deposited Securities, the Depositary will, if at the time of receipt thereof any amounts received in a foreign
currency can in the judgment of the Depositary be converted on a reasonable basis into Dollars transferable to the United States, and
subject to the Deposit Agreement, convert that dividend or other cash distribution into Dollars and distribute the amount thus received
(net of the fees and expenses of the Depositary as provided in Article 7 hereof and Section 5.9 of the Deposit Agreement) to
the Owners entitled thereto; provided, however, that if the Custodian or the Depositary is required to withhold and does
withhold from that cash dividend or other cash distribution an amount on account of taxes or other governmental charges, the amount distributed
to the Owners of the American Depositary Shares representing those Deposited Securities shall be reduced accordingly.

 

If a cash distribution would represent a return
of all or substantially all the value of the Deposited Securities underlying American Depositary Shares, the Depositary may:

 

(i) require payment of or
deduct the fee for surrender of American Depositary Shares (whether or not it is also requiring surrender of American Depositary Shares)
as a condition of making that cash distribution; or

 

(ii) sell all Deposited Securities
other than the subject cash distribution and add any net cash proceeds of that sale to the cash distribution, call for surrender of all
those American Depositary Shares and require that surrender as a condition of making that cash distribution.

 

If the Depositary acts under this paragraph, that
action shall also be a Termination Option Event.

 

Subject to the provisions of Section 4.11
and 5.9 of the Deposit Agreement, whenever the Depositary receives any distribution other than a distribution described in Section 4.1,
4.3 or 4.4 of the Deposit Agreement on Deposited Securities (but not in exchange for or in conversion or in lieu of Deposited Securities),
the Depositary will cause the securities or property received by it to be distributed to the Owners entitled thereto, after deduction
or upon payment of any fees and expenses of the Depositary and any taxes or other governmental charges, in any manner that the Depositary
deems equitable and practicable for accomplishing that distribution (which may be a distribution of depositary shares representing the
securities received); provided, however, that if in the opinion of the Depositary such distribution cannot be made proportionately
among the Owners entitled thereto, or if for any other reason the Depositary deems such distribution not to be lawful and feasible, the
Depositary may, after consultation with the Company to the extent practicable, adopt such other method as it may deem equitable and practicable
for the purpose of effecting such distribution, including, but not limited to, the public or private sale of the securities or property
thus received, or any part thereof, and distribution of the net proceeds of any such sale (net of the fees and expenses of the Depositary
as provided in Article 7 hereof and Section 5.9 of the Deposit Agreement) to the Owners entitled thereto all in the manner and
subject to the conditions set forth in Section 4.1 of the Deposit Agreement. The Depositary may withhold any distribution of securities
under Section 4.2 of the Deposit Agreement if it has not received satisfactory assurances from the Company that the distribution does
not require registration under the Securities Act of 1933. The Depositary may sell, by public or private sale, an amount of securities
or other property it would otherwise distribute under this Article that is sufficient to pay its fees and expenses in respect of that
distribution.

 

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If a distribution to be made under Section 4.2
of the Deposit Agreement would represent a return of all or substantially all the value of the Deposited Securities underlying American
Depositary Shares, the Depositary may:

 

(i) require payment of or
deduct the fee for surrender of American Depositary Shares (whether or not it is also requiring surrender of American Depositary Shares)
as a condition of making that distribution; or

 

(ii) sell all Deposited Securities
other than the subject distribution and add any net cash proceeds of that sale to the distribution, call for surrender of all those American
Depositary Shares and require that surrender as a condition of making that distribution.

 

If the Depositary acts under this paragraph, that
action shall also be a Termination Option Event.

 

Whenever the Depositary receives any distribution
consisting of a dividend in, or free distribution of, Shares, the Depositary may deliver to the Owners entitled thereto, an aggregate
number of American Depositary Shares representing the amount of Shares received as that dividend or free distribution, subject to the
terms and conditions of the Deposit Agreement with respect to the deposit of Shares and issuance of American Depositary Shares, including
the withholding of any tax or other governmental charge as provided in Section 4.11 of the Deposit Agreement and the payment of the fees
and expenses of the Depositary as provided in Article 7 hereof and Section 5.9 of the Deposit Agreement (and the Depositary may sell,
by public or private sale, an amount of Shares received (or American Depositary Shares representing those Shares) sufficient to pay its
fees and expenses in respect of that distribution). In lieu of delivering fractional American Depositary Shares, the Depositary may sell
the amount of Shares represented by the aggregate of those fractions (or American Depositary Shares representing those Shares) and distribute
the net proceeds, all in the manner and subject to the conditions described in Section 4.1 of the Deposit Agreement. If and to the extent
that additional American Depositary Shares are not delivered and Shares or American Depositary Shares are not sold, each American Depositary
Share shall thenceforth also represent the additional Shares distributed on the Deposited Securities represented thereby.

 

If the Company declares a distribution in which
holders of Deposited Securities have a right to elect whether to receive cash, Shares or other securities or a combination of those things,
or a right to elect to have a distribution sold on their behalf, the Depositary may, after consultation with the Company, make that right
of election available for exercise by Owners in any manner the Depositary considers to be lawful and practical. As a condition of making
a distribution election right available to Owners, the Depositary may require satisfactory assurances from the Company that doing so does
not require registration of any securities under the Securities Act of 1933 that has not been effected.

 

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If the Depositary determines that any distribution
received or to be made by the Depositary (including Shares and rights to subscribe therefor) is subject to any tax or other governmental
charge that the Depositary is obligated to withhold, the Depositary may sell, by public or private sale, all or a portion of the distributed
property (including Shares and rights to subscribe therefor) in the amounts and manner the Depositary deems necessary and practicable
to pay those taxes or charges, and the Depositary shall distribute the net proceeds of that sale, after deduction of those taxes or charges,
to the Owners entitled thereto in proportion to the number of American Depositary Shares held by them respectively.

 

Each Owner and Holder agrees to indemnify the
Company, the Depositary, the Custodian and their respective directors, officers, employees, agents and affiliates for, and hold each of
them harmless against, any claim by any governmental authority with respect to taxes, additions to tax, penalties or interest arising
out of any refund of taxes, reduced withholding at source or other tax benefit received by it. Services for Owners and Holders that may
permit them to obtain reduced rates of tax withholding at source or reclaim excess tax withheld, and the fees and costs associated with
using services of that kind, are not provided under, and are outside the scope of, the Deposit Agreement.

 

 13. RIGHTS.

 

(a) If
rights are granted to the Depositary in respect of deposited Shares to purchase or subscribe for additional Shares or other securities,
the Company and the Depositary shall endeavor to consult as to the actions, if any, the Depositary should take in connection with that
grant of rights. The Depositary may, to the extent deemed by it to be lawful and practical (i) if requested in writing by the Company,
grant to all or certain Owners rights to instruct the Depositary to purchase or subscribe for the securities to which the rights relate
and deliver those securities or American Depositary Shares representing those securities to Owners, (ii) if requested in writing by the
Company, deliver the rights to or to the order of certain Owners, or (iii) sell the rights to the extent practicable and distribute the
net proceeds of that sale to Owners entitled to those proceeds. To the extent rights are not exercised, delivered or disposed of under
(i), (ii) or (iii) above, the Depositary shall permit the rights to lapse unexercised.

 

(b) If
the Depositary will act under (a)(i) above, the Company and the Depositary will enter into a separate agreement setting forth the conditions
and procedures applicable to the particular offering. Upon instruction from an applicable Owner in the form the Depositary specified and
upon payment by that Owner to the Depositary of an amount equal to the purchase or subscription price of the securities to be received
upon the exercise of the rights and any applicable fees or charges, the Depositary shall, on behalf of that Owner, exercise the rights
and purchase or subscribe for the securities. The purchased securities shall be delivered to, or as instructed by, the Depositary. The
Depositary shall (i) deposit the purchased or subscribed Shares under the Deposit Agreement and deliver American Depositary Shares representing
those Shares to that Owner or (ii) deliver or cause the purchased or subscribed Shares or other securities to be delivered to or to the
order of that Owner. The Depositary will not act under (a)(i) above unless the offer and sale of the securities to which the rights relate
are registered under the Securities Act of 1933 or the Depositary has received an opinion of United States counsel that is satisfactory
to it to the effect that those securities may be sold and delivered to the applicable Owners without registration under the Securities
Act of 1933.

 

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(c) If
the Depositary will act under (a)(ii) above, the Company and the Depositary will enter into a separate agreement setting forth the conditions
and procedures applicable to the particular offering. Upon (i) the request of an applicable Owner to deliver the rights allocable to the
American Depositary Shares of that Owner to an account specified by that Owner to which the rights can be delivered and (ii) receipt of
such documents as the Company and the Depositary agreed to require to comply with applicable law, the Depositary will deliver those rights
as requested by that Owner.

 

(d) If
the Depositary will act under (a)(iii) above, the Depositary will use reasonable efforts to sell the rights in proportion to the number
of American Depositary Shares held by the applicable Owners and pay the net proceeds to the Owners otherwise entitled to the rights that
were sold, upon an averaged or other practical basis without regard to any distinctions among such Owners because of exchange restrictions
or the date of delivery of any American Depositary Shares or otherwise.

 

(e) Payment
or deduction of the fees of the Depositary as provided in Section 5.9 of the Deposit Agreement and payment or deduction of the expenses
of the Depositary and any applicable taxes or other governmental charges shall be conditions of any delivery of securities or payment
of cash proceeds under Section 4.4 of the Deposit Agreement.

 

(f) Neither
the Depositary nor the Company shall be responsible for any failure to determine that it may be lawful or feasible to make rights available
to or exercise rights on behalf of Owners in general or any Owner in particular , or to sell rights.

 

 14. CONVERSION OF FOREIGN CURRENCY.

 

Whenever the Depositary or the Custodian receives
foreign currency, by way of dividends or other distributions or the net proceeds from the sale of securities, property or rights, and
if at the time of the receipt thereof the foreign currency so received can in the judgment of the Depositary be converted on a reasonable
basis into Dollars and the resulting Dollars transferred to the United States, the Depositary or one of its agents or affiliates or the
Custodian shall convert or cause to be converted by sale or in any other manner that it may determine that foreign currency into Dollars,
and those Dollars shall be distributed to the Owners entitled thereto.  A cash distribution may be made upon an averaged or other
practicable basis without regard to any distinctions among Owners based on exchange restrictions, the date of delivery of any American
Depositary Shares or otherwise and shall be net of any expenses of conversion into Dollars incurred by the Depositary as provided in Section 5.9
of the Deposit Agreement.

 

    A-12

     

    

 

If a conversion of foreign currency or the repatriation
or distribution of Dollars can be effected only with the approval or license of any government or agency thereof, the Depositary may,
but will not be required to, file an application for that approval or license.

 

If the Depositary determines that in its judgment
any foreign currency received by the Depositary or the Custodian is not convertible on a reasonable basis into Dollars transferable to
the United States, or if any approval or license of any government or agency thereof that is required for such conversion is not filed
or sought by the Depositary or is not obtained within a reasonable period as determined by the Depositary, the Depositary may distribute
the foreign currency received by the Depositary to, or in its discretion may hold such foreign currency uninvested and without liability
for interest thereon for the respective accounts of, the Owners entitled to receive the same.

 

If any conversion of foreign currency, in whole
or in part, cannot be effected for distribution to some of the Owners entitled thereto, the Depositary may in its discretion make that
conversion and distribution in Dollars to the extent practicable and permissible to the Owners entitled thereto and may distribute the
balance of the foreign currency received by the Depositary to, or hold that balance uninvested and without liability for interest thereon
for the account of, the Owners entitled thereto.

 

The Depositary may convert currency itself or
through any of its affiliates, or the Custodian or the Company may convert currency and pay Dollars to the Depositary. Where the Depositary
converts currency itself or through any of its affiliates, the Depositary acts as principal for its own account and not as agent, advisor,
broker or fiduciary on behalf of any other person and earns revenue, including, without limitation, transaction spreads, that it will
retain for its own account.  The revenue is based on, among other things, the difference between the exchange rate assigned to the
currency conversion made under the Deposit Agreement and the rate that the Depositary or its affiliate receives when buying or selling
foreign currency for its own account.  The Depositary makes no representation that the exchange rate used or obtained by it or its
affiliate in any currency conversion under the Deposit Agreement will be the most favorable rate that could be obtained at the time or
that the method by which that rate will be determined will be the most favorable to Owners, subject to the Depositary’s obligations
under Section 5.3 of that Agreement.  The methodology used to determine exchange rates used in currency conversions made by the Depositary
is available upon request. Where the Custodian converts currency, the Custodian has no obligation to obtain the most favorable rate that
could be obtained at the time or to ensure that the method by which that rate will be determined will be the most favorable to Owners,
and the Depositary makes no representation that the rate is the most favorable rate and will not be liable for any direct or indirect
losses associated with the rate.  In certain instances, the Depositary may receive dividends or other distributions from the Company
in Dollars that represent the proceeds of a conversion of foreign currency or translation from foreign currency at a rate that was obtained
or determined by or on behalf of the Company and, in such cases, the Depositary will not engage in, or be responsible for, any foreign
currency transactions and neither it nor the Company makes any representation that the rate obtained or determined by the Company is the
most favorable rate and neither it nor the Company will be liable for any direct or indirect losses associated with the rate.

 

    A-13

     

    

 

 15. RECORD DATES.

 

Whenever a cash dividend, cash distribution or
any other distribution is made on Deposited Securities or rights to purchase Shares or other securities are issued with respect to Deposited
Securities (which rights will be delivered to or exercised or sold on behalf of Owners in accordance with Section 4.4 of the Deposit Agreement)
or the Depositary receives notice that a distribution or issuance of that kind will be made, or whenever the Depositary receives notice
that a meeting of holders of Shares will be held in respect of which the Company has requested the Depositary to send a notice under Section
4.7 of the Deposit Agreement, or whenever the Depositary will assess a fee or charge against the Owners, or whenever the Depositary causes
a change in the number of Shares that are represented by each American Depositary Share, or whenever the Depositary otherwise finds it
necessary or convenient, the Depositary shall fix a record date, which shall be the same as, or as near as practicable to, any corresponding
record date set by the Company with respect to Shares, (a) for the determination of the Owners (i) who shall be entitled to receive the
benefit of that dividend or other distribution or those rights, (ii) who shall be entitled to give instructions for the exercise of voting
rights at that meeting, (iii) who shall be responsible for that fee or charge or (iv) for any other purpose for which the record date
was set, or (b) on or after which each American Depositary Share will represent the changed number of Shares. Subject to the provisions
of Sections 4.1 through 4.5 of the Deposit Agreement and to the other terms and conditions of the Deposit Agreement, the Owners on a record
date fixed by the Depositary shall be entitled to receive the amount distributable by the Depositary with respect to that dividend or
other distribution or those rights or the net proceeds of sale thereof in proportion to the number of American Depositary Shares held
by them respectively, to give voting instructions or to act in respect of the other matter for which that record date was fixed, or be
responsible for that fee or charge, as the case may be.

 

 16. VOTING OF DEPOSITED SHARES.

 

(a) Upon
receipt of notice of any meeting of holders of Shares at which holders of Shares will be entitled to vote, if requested in writing by
the Company, the Depositary shall, as soon as practicable thereafter, Disseminate to the Owners a notice, the form of which shall
be in the sole discretion of the Depositary, that shall contain (i) the information contained in the notice of meeting received by
the Depositary, (ii) a statement that the Owners as of the close of business on a specified record date will be entitled, subject
to any applicable provision of Belgian law and of the articles of association or similar documents of the Company, to instruct the Depositary
as to the exercise of the voting rights pertaining to the amount of Shares represented by their respective American Depositary Shares,
(iii) a statement as to the manner in which those instructions may be given and (iv) the last date on which the Depositary will accept
instructions (the “Instruction Cutoff Date”).

 

    A-14

     

    

 

(b) Upon
the written request of an Owner of American Depositary Shares, as of the date of the request or, if a record date was specified by the
Depositary, as of that record date, received on or before any Instruction Cutoff Date established by the Depositary, the
Depositary may, and if the Depositary sent a notice under the preceding paragraph shall, endeavor, in so far as practicable, to vote or
cause to be voted the amount of deposited Shares represented by those American Depositary Shares in accordance with the instructions set
forth in that request. The Depositary shall not vote or attempt to exercise the right to vote that attaches to the deposited Shares other
than in accordance with instructions given by Owners and received by the Depositary.

 

(c) There
can be no assurance that Owners generally or any Owner in particular will receive the notice described in paragraph (a) above in
time to enable Owners to give instructions to the Depositary prior to the Instruction Cutoff Date.

 

(d) In
order to give Owners a reasonable opportunity to instruct the Depositary as to the exercise of voting rights relating to Shares, if the
Company will request the Depositary to Disseminate a notice under paragraph (a) above, the Company shall give the Depositary notice
of the meeting, details concerning the matters to be voted upon and copies of materials to be made available to holders of Shares in connection
with the meeting not less than 30 days prior to the meeting date.

 

(e) Notwithstanding
anything in this Section 4.7 to the contrary, the Depositary and the Company may modify, amend or adopt additional procedures relating
to voting of deposited Shares from time to time as they determine may be necessary or appropriate to comply with applicable law and the
articles of association or similar document of the Company.

 

 17. TENDER AND EXCHANGE OFFERS; REDEMPTION, REPLACEMENT OR CANCELLATION OF DEPOSITED SECURITIES.

 

(a) The
Depositary shall not tender any Deposited Securities in response to any voluntary cash tender offer, exchange offer or similar offer made
to holders of Deposited Securities (a “Voluntary Offer”), except when instructed in writing to do so by an Owner surrendering
American Depositary Shares and subject to any conditions or procedures the Depositary may require.

 

    A-15

     

    

 

(b) If
the Depositary receives a written notice that Deposited Securities have been redeemed for cash or otherwise purchased for cash in a transaction
that is mandatory and binding on the Depositary as a holder of those Deposited Securities (a “Redemption”), the Depositary,
at the expense of the Company, shall (i) if required, surrender Deposited Securities that have been redeemed to the issuer of those securities
or its agent on the redemption date, (ii) Disseminate a notice to Owners (A) notifying them of that Redemption, (B) calling for surrender
of a corresponding number of American Depositary Shares and (C) notifying them that the called American Depositary Shares have been converted
into a right only to receive the money received by the Depositary upon that Redemption and those net proceeds shall be the Deposited Securities
to which Owners of those converted American Depositary Shares shall be entitled upon surrenders of those American Depositary Shares in
accordance with Section 2.5 or 6.2 of the Deposit Agreement and (iii) distribute the money received upon that Redemption to the Owners
entitled to it upon surrender by them of called American Depositary Shares in accordance with Section 2.5 of that Agreement (and, for
the avoidance of doubt, Owners shall not be entitled to receive that money under Section 4.1 of that Agreement). If the Redemption affects
less than all the Deposited Securities, the Depositary shall call for surrender a corresponding portion of the outstanding American Depositary
Shares and only those American Depositary Shares will automatically be converted into a right to receive the net proceeds of the Redemption.
The Depositary shall allocate the American Depositary Shares converted under the preceding sentence among the Owners pro-rata to their
respective holdings of American Depositary Shares immediately prior to the Redemption, except that the allocations may be adjusted
so that no fraction of a converted American Depositary Share is allocated to any Owner. A Redemption of all or substantially all of the
Deposited Securities shall be a Termination Option Event.

 

(c) If
the Depositary is notified of or there occurs any change in nominal value or any subdivision, combination or any other reclassification
of the Deposited Securities or any recapitalization, reorganization, sale of assets substantially as an entirety, merger or consolidation
affecting the issuer of the Deposited Securities or to which it is a party that is mandatory and binding on the Depositary as a holder
of Deposited Securities and, as a result, securities or other property have been or will be delivered in exchange, conversion, replacement
or in lieu of, Deposited Securities (a “Replacement”), the Depositary shall, if required, surrender the old Deposited
Securities affected by that Replacement of Shares and hold, as new Deposited Securities under the Deposit Agreement, the new securities
or other property delivered to it in that Replacement. However, the Depositary may elect to sell those new Deposited Securities
if in the opinion of the Depositary it is not lawful or not practical for it to hold those new Deposited Securities under the Deposit
Agreement because those new Deposited Securities may not be distributed to Owners without registration under the Securities Act of 1933
or for any other reason, at public or private sale, at such places and on such terms as it deems proper and proceed as if those new Deposited
Securities had been Redeemed under paragraph (b) above. A Replacement shall be a Termination Option Event.

 

    A-16

     

    

 

(d) In
the case of a Replacement where the new Deposited Securities will continue to be held under the Deposit Agreement, the Depositary may
call for the surrender of outstanding Receipts to be exchanged for new Receipts specifically describing the new Deposited Securities and
the number of those new Deposited Securities represented by each American Depositary Share. If the number of Shares represented by each
American Depositary Share decreases as a result of a Replacement, the Depositary may call for surrender of the American Depositary Shares
to be exchanged on a mandatory basis for a lesser number of American Depositary Shares and may sell American Depositary Shares to the
extent necessary to avoid distributing fractions of American Depositary Shares in that exchange and distribute the net proceeds of that
sale to the Owners entitled to them.

 

(e) If
there are no Deposited Securities with respect to American Depositary Shares, including if the Deposited Securities are cancelled, or
the Deposited Securities with respect to American Depositary Shares have become apparently worthless, the Depositary may call for surrender
of those American Depositary Shares or may cancel those American Depositary Shares, upon notice to Owners, and that condition shall be
a Termination Option Event.

 

 18. LIABILITY OF THE COMPANY AND DEPOSITARY.

 

Neither the Depositary nor the Company nor any
of their respective directors, officers, employees, agents or affiliates shall incur any liability to any Owner or Holder:

 

(i) if by reason of (A) any provision of any present
or future law or regulation or other act of the government of the United States, any State of the United States or any other state, country
or jurisdiction, or of any governmental or regulatory authority or stock exchange; (B) (in the case of the Depositary only) any provision,
present or future, of the articles of association or similar document of the Company, or by reason of any provision of any securities
issued or distributed by the Company, or any offering or distribution thereof; or (C) any event or circumstance, whether natural or caused
by a person or persons, that is beyond the ability of the Depositary or the Company, as the case may be, to prevent or counteract by reasonable
care or effort (including, but not limited to earthquakes, floods, severe storms, fires, explosions, war, terrorism, civil unrest, labor
disputes, criminal acts or outbreaks of infectious disease; interruptions or malfunctions of utility services, Internet or other communications
lines or systems; unauthorized access to or attacks on computer systems or websites; or other failures or malfunctions of computer hardware
or software or other systems or equipment), the Depositary or the Company is, directly or indirectly, prevented from, forbidden to or
delayed in, or could be subject to any civil or criminal penalty on account of doing or performing and therefore does not do or perform,
any act or thing that, by the terms of the Deposit Agreement or the Deposited Securities, it is provided shall be done or performed;

 

(ii) for any exercise of, or failure to exercise,
any discretion provided for in the Deposit Agreement (including any determination by the Depositary to take, or not take, any action that
the Deposit Agreement provides the Depositary may take);

 

    A-17

     

    

 

(iii) for the inability of any Owner or Holder
to benefit from any distribution, offering, right or other benefit that is made available to holders of Deposited Securities but is not,
under the terms of the Deposit Agreement, made available to Owners or Holders; or

 

(iv) for any special, consequential or punitive
damages for any breach of the terms of the Deposit Agreement.

 

Where, by the terms of a distribution to which
Section 4.1, 4.2 or 4.3 of the Deposit Agreement applies, or an offering to which Section 4.4 of that Agreement applies, or for any other
reason, that distribution or offering may not be made available to Owners, and the Depositary may not dispose of that distribution or
offering on behalf of Owners and make the net proceeds available to Owners, then the Depositary shall not make that distribution or offering
available to Owners, and shall allow any rights, if applicable, to lapse.

 

Neither the Company nor the Depositary assumes
any obligation or shall be subject to any liability under the Deposit Agreement to Owners or Holders, except that they agree to perform
their obligations specifically set forth in the Deposit Agreement without negligence or bad faith. The Depositary shall not be a fiduciary
or have any fiduciary duty to Owners or Holders. The Depositary shall not be subject to any liability with respect to the validity or
worth of the Deposited Securities. Neither the Depositary nor the Company nor any of their respective directors, officers, employees,
agents or affiliates shall be under any obligation to appear in, prosecute or defend any action, suit, or other proceeding in respect
of any Deposited Securities or in respect of the American Depositary Shares, on behalf of any Owner or Holder or other person. Neither
the Depositary nor the Company shall be liable for any action or non-action by it in reliance upon the advice of or information from legal
counsel, accountants, any person presenting Shares for deposit, any Owner or Holder, or any other person believed by it in good faith
to be competent to give such advice or information. Each of the Depositary and the Company may rely, and shall be protected in relying
upon, any written notice, request, direction or other document believed by it to be genuine and to have been signed or presented by the
proper party or parties. The Depositary shall not be liable for any acts or omissions made by a successor depositary whether in connection
with a previous act or omission of the Depositary or in connection with a matter arising wholly after the removal or resignation of the
Depositary, provided that in connection with the issue out of which such potential liability arises, the Depositary performed its obligations
without negligence or bad faith while it acted as Depositary. The Depositary shall not be liable for the acts or omissions of any securities
depository, clearing agency or settlement system in connection with or arising out of book-entry settlement of American Depositary Shares
or Deposited Securities or otherwise. In the absence of bad faith on its part, the Depositary shall not be responsible for any failure
to carry out any instructions to vote any of the Deposited Securities or for the manner in which any such vote is cast or the effect of
any such vote. The Depositary shall have no duty to make any determination or provide any information as to the tax status of the Company
and neither the Depositary nor the Company shall have any liability for any tax consequences that may be incurred by Owners or Holders
as a result of owning or holding American Depositary Shares. Neither the Depositary nor the Company shall be liable for the inability
or failure of an Owner or Holder to obtain the benefit of a foreign tax credit, reduced rate of withholding or refund of amounts withheld
in respect of tax or any other tax benefit.

 

    A-18

     

    

 

 19. RESIGNATION AND REMOVAL OF THE DEPOSITARY; APPOINTMENT OF SUCCESSOR CUSTODIAN.

 

The Depositary may at any time resign as Depositary
under the Deposit Agreement by written notice of its election so to do delivered to the Company, to become effective upon the appointment
of a successor depositary and its acceptance of such appointment as provided in the Deposit Agreement. The Depositary may at any time
be removed by the Company by 90 days’ prior written notice of that removal, to become effective upon the later of (i) the 90th day
after delivery of the notice to the Depositary and (ii) the appointment of a successor depositary and its acceptance of its appointment
as provided in the Deposit Agreement. The Depositary in its discretion may at any time appoint a substitute or additional custodian or
custodians.

 

 20. AMENDMENT.

 

The form of the Receipts and any provisions of
the Deposit Agreement may at any time and from time to time be amended by agreement between the Company and the Depositary without the
consent of Owners or Holders in any respect which they may deem necessary or desirable. Any amendment that would impose or increase any
fees or charges (other than taxes and other governmental charges, registration fees, cable (including SWIFT) or facsimile transmission
costs, delivery costs or other such expenses), or that would otherwise prejudice any substantial existing right of Owners, shall, however,
not become effective as to outstanding American Depositary Shares until the expiration of 30 days after notice of that amendment has been
Disseminated to the Owners of outstanding American Depositary Shares. Every Owner and Holder, at the time any amendment so becomes effective,
shall be deemed, by continuing to hold American Depositary Shares or any interest therein, to consent and agree to that amendment and
to be bound by the Deposit Agreement as amended thereby. Upon the effectiveness of an amendment to the form of Receipt, including a change
in the number of Shares represented by each American Depositary Share, the Depositary may call for surrender of Receipts to be replaced
with new Receipts in the amended form or call for surrender of American Depositary Shares to effect that change of ratio. In no event
shall any amendment impair the right of the Owner to surrender American Depositary Shares and receive delivery of the Deposited Securities
represented thereby, except in order to comply with mandatory provisions of applicable law.

 

    A-19

     

    

 

 21. TERMINATION OF DEPOSIT AGREEMENT.

 

(a) The
Company may initiate termination of the Deposit Agreement by notice to the Depositary. The Depositary may initiate termination of the
Deposit Agreement if (i) at any time 60 days shall have expired after the Depositary delivered to the Company a written resignation notice
and a successor depositary has not been appointed and accepted its appointment as provided in Section 5.4 of that Agreement or (ii) a
Termination Option Event has occurred or will occur. If termination of the Deposit Agreement is initiated, the Depositary shall Disseminate
a notice of termination to the Owners of all American Depositary Shares then outstanding setting a date for termination (the “Termination
Date”), which shall be at least 90 days after the date of that notice, and the Deposit Agreement shall terminate on that Termination
Date.

 

(b) After
the Termination Date, the Company shall be discharged from all obligations under the Deposit Agreement except for its obligations to the
Depositary under Sections 5.8 and 5.9 of that Agreement.

 

(c) At
any time after the Termination Date, the Depositary may sell the Deposited Securities then held under the Deposit Agreement and may thereafter
hold uninvested the net proceeds of any such sale, together with any other cash then held by it hereunder, unsegregated and without liability
for interest, for the pro rata benefit of the Owners of American Depositary Shares that remain outstanding, and those Owners will be general
creditors of the Depositary with respect to those net proceeds and that other cash. After making that sale, the Depositary shall be discharged
from all obligations under the Deposit Agreement, except (i) to account for the net proceeds and other cash (after deducting, in each
case, the fee of the Depositary for the surrender of American Depositary Shares, any expenses for the account of the Owner of such American
Depositary Shares in accordance with the terms and conditions of the Deposit Agreement and any applicable taxes or governmental charges),
(ii) for its obligations under Section 5.8 of that Agreement and (iii) to act as provided in paragraph (d) below.

 

(d) After
the Termination Date, the Depositary shall continue to receive dividends and other distributions pertaining to Deposited Securities (that
have not been sold), may sell rights and other property as provided in the Deposit Agreement and shall deliver Deposited Securities (or
sale proceeds) upon surrender of American Depositary Shares (after payment or upon deduction, in each case, of the fee of the Depositary
for the surrender of American Depositary Shares, any expenses for the account of the Owner of those American Depositary Shares in accordance
with the terms and conditions of the Deposit Agreement and any applicable taxes or governmental charges). After the Termination Date,
the Depositary shall not accept deposits of Shares or deliver American Depositary Shares. After the Termination Date, (i) the Depositary
may refuse to accept surrenders of American Depositary Shares for the purpose of withdrawal of Deposited Securities (that have not been
sold) or reverse previously accepted surrenders of that kind that have not settled if in its judgment the requested withdrawal would interfere
with its efforts to sell the Deposited Securities, (ii) the Depositary will not be required to deliver cash proceeds of the sale of Deposited
Securities until all Deposited Securities have been sold and (iii) the Depositary may discontinue the registration of transfers of American
Depositary Shares and suspend the distribution of dividends and other distributions on Deposited Securities to the Owners and need not
give any further notices or perform any further acts under the Deposit Agreement except as provided in Section 6.2 of that Agreement.

 

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 22. DTC DIRECT REGISTRATION SYSTEM AND PROFILE MODIFICATION SYSTEM.

 

(a) Notwithstanding
the provisions of Section 2.4 of the Deposit Agreement, the parties acknowledge that DTC’s Direct Registration System (“DRS”)
and Profile Modification System (“Profile”) apply to the American Depositary Shares upon acceptance thereof to DRS
by DTC. DRS is the system administered by DTC that facilitates interchange between registered holding of uncertificated securities and
holding of security entitlements in those securities through DTC and a DTC participant. Profile is a required feature of DRS that allows
a DTC participant, claiming to act on behalf of an Owner of American Depositary Shares, to direct the Depositary to register a transfer
of those American Depositary Shares to DTC or its nominee and to deliver those American Depositary Shares to the DTC account of that DTC
participant without receipt by the Depositary of prior authorization from the Owner to register that transfer.

 

(b) In
connection with DRS/Profile, the parties acknowledge that the Depositary will not determine whether the DTC participant that is claiming
to be acting on behalf of an Owner in requesting registration of transfer and delivery as described in paragraph (a) above has the actual
authority to act on behalf of that Owner (notwithstanding any requirements under the Uniform Commercial Code). For the avoidance of doubt,
the provisions of Sections 5.3 and 5.8 of the Deposit Agreement apply to the matters arising from the use of the DRS/Profile. The parties
agree that the Depositary’s reliance on and compliance with instructions received by the Depositary through the DRS/Profile system
and otherwise in accordance with the Deposit Agreement, shall not constitute negligence or bad faith on the part of the Depositary.

 

 23. APPOINTMENT OF AGENT FOR SERVICE OF PROCESS; SUBMISSION TO JURISDICTION; JURY TRIAL WAIVER; WAIVER OF IMMUNITIES.

 

The Company has (i) appointed Cogency Global Inc.
located at 122 East 42nd Street, 18th Floor, New York, NY 10168 as the Company’s authorized agent in the United States upon which
process may be served in any suit or proceeding arising out of or relating to the Shares or Deposited Securities, the American Depositary
Shares, the Receipts or the Deposit Agreement, (ii) consented and submitted to the jurisdiction of any state or federal court in the State
of New York in which any such suit or proceeding may be instituted, and (iii) agreed that service of process upon said authorized agent
shall be deemed in every respect effective service of process upon the Company in any such suit or proceeding.

 

    A-21

     

    

 

EACH PARTY TO THE DEPOSIT AGREEMENT (INCLUDING,
FOR AVOIDANCE OF DOUBT, EACH OWNER AND HOLDER) THEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT
IT MAY HAVE TO A TRIAL BY JURY IN ANY SUIT, ACTION OR PROCEEDING AGAINST THE COMPANY AND/OR THE DEPOSITARY DIRECTLY OR INDIRECTLY ARISING
OUT OF OR RELATING TO THE SHARES OR OTHER DEPOSITED SECURITIES, THE AMERICAN DEPOSITARY SHARES OR THE RECEIPTS, THE DEPOSIT AGREEMENT
OR ANY TRANSACTION CONTEMPLATED HEREIN OR THEREIN, OR THE BREACH HEREOF OR THEREOF, INCLUDING, WITHOUT LIMITATION, ANY QUESTION REGARDING
EXISTENCE, VALIDITY OR TERMINATION (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY) AND ANY CLAIM BASED ON U.S. FEDERAL SECURITIES
LAWS.

 

No disclaimer of liability under the United States
federal securities laws or the rules and regulations thereunder is intended by any provision of the Deposit Agreement, inasmuch as no
person is able to effectively waive the duty of any other person to comply with its obligations under those laws, rules and regulations.

 

To the extent that the Company or any of its properties,
assets or revenues may have or may hereafter become entitled to, or have attributed to it, any right of immunity, on the grounds of sovereignty
or otherwise, from any legal action, suit or proceeding, from the giving of any relief in any respect thereof, from setoff or counterclaim,
from the jurisdiction of any court, from service of process, from attachment upon or prior to judgment, from attachment in aid of execution
or judgment, or from execution of judgment, or other legal process or proceeding for the giving of any relief or for the enforcement of
any judgment, in any jurisdiction in which proceedings may at any time be commenced, with respect to its obligations, liabilities or any
other matter under or arising out of or in connection with the Shares or Deposited Securities, the American Depositary Shares, the Receipts
or the Deposit Agreement, the Company, to the fullest extent permitted by law, hereby irrevocably and unconditionally waives, and agrees
not to plead or claim, any such immunity and consents to such relief and enforcement.

 

 

A-22EXHIBIT 10.2

 

REGISTRATION AND SHAREHOLDER RIGHTS AGREEMENT

 

THIS REGISTRATION AND SHAREHOLDER
RIGHTS AGREEMENT (this “Agreement”), dated as of [●], 2021, is made and entered into by and among 7 Acquisition
Corporation, a Cayman Islands exempted company (the “Company”) and 7 Acquisition Holdings, LLC, a Delaware limited
liability company (the “Sponsor”). The Sponsor, and any person or entity who hereafter becomes a party to this
Agreement pursuant to Section 6.2 of this Agreement, shall each be a “Holder” and collectively shall
be the “Holders”.

 

RECITALS

 

WHEREAS, the Sponsor
currently owns 8,625,000 of the Company’s Class B ordinary shares, par value $0.0001 per issued and outstanding share, up to
1,125,000 of which will be forfeited by the Sponsor to the Company for no consideration depending on the extent to which the Underwriter
(as defined below) of the Company’s initial public offering exercises their over-allotment option (the “Class B
Ordinary Shares”);

 

WHEREAS, the Class B
Ordinary Shares are convertible into the Company’s Class A ordinary shares, par value $0.0001 per share (the “Ordinary
Shares”), at the time of the initial Business Combination on a one-for-one basis, subject to adjustment, on the terms and
conditions provided in the Company’s amended and restated memorandum and articles of association, as may be amended from time to
time;

 

WHEREAS, on [●],
2021, the Company and the Sponsor entered into that certain Private Placement Warrants Purchase Agreement, pursuant to which the Sponsor
agreed to purchase 5,433,333 warrants (or up to 6,033,333 warrants if the Underwriter (as defined
below) in the Company’s initial public offering exercises their over-allotment option
in full) (the “Private Placement Warrants”), in a private placement transaction occurring simultaneously
with the closing of the Company’s initial public offering (and the closing of the over-allotment
option, if applicable);

 

WHEREAS, in order to
finance the Company’s transaction costs in connection with an intended Business Combination (as defined below), the Sponsor or certain
of the Company’s officers or directors may, but are not obligated to, loan the Company funds as the Company may require, of which
up to $1,500,000 of such loans may be convertible into an additional 1,000,000 Private Placement Warrants (the “Working Capital
Warrants”) at the price of $1.50 per warrant; and

 

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

 

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

 

     

     

    

 

Article 1

DEFINITIONS

 

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

 

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

 

“Agreement”
shall have the meaning given in the Preamble.

 

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

 

“Business Combination”
shall mean any merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business combination
with one or more businesses or entities, involving the Company.

 

“Commission”
shall mean the U.S. Securities and Exchange Commission.

 

“Company”
shall have the meaning given in the Preamble.

 

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

 

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

 

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

 

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

 

“Form S-3”
shall have the meaning given in subsection 2.3.1.

 

“Founder Shares”
shall mean the Class B Ordinary Shares and shall be deemed to include the Ordinary Shares issuable upon conversion thereof.

 

“Founder Shares
Lock-up Period” shall mean, with respect to the Founder Shares, the period ending on the earlier of (A) one year after
the completion of the Company’s initial Business Combination and (B) subsequent to the Business Combination, (x) if the
last reported sales price of the Ordinary Shares equals or exceeds $12.00 per share (as adjusted for share subdivisions, share capitalizations,
reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days
after the Company’s initial Business Combination or (y) the date on which the Company completes a liquidation, merger, share
exchange, reorganization or other similar transaction that results in all of the Company’s public shareholders having the right
to exchange their Ordinary Shares for cash, securities or other property.

 

    2 

     

    

 

“Holders”
shall have the meaning given in the Preamble.

 

“Insider Letter”
shall mean that certain letter agreement, dated as of the date hereof, by and between the Company, the Sponsor and each of the Company’s
advisory board members, officers and directors.

 

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

 

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

 

“Nominee”
is defined in Section 6.1.

 

“Ordinary Shares”
shall have the meaning given in the Recitals hereto.

 

“Permitted Transferees”
shall mean a person or entity to whom a Holder of Registrable Securities is permitted to transfer such Registrable Securities prior to
the expiration of the Founder Shares Lock-up Period or Private Placement Lock-up Period, as the case may be, under the Insider Letter
and any other applicable agreement between such Holder and the Company, and to any transferee thereafter.

 

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

 

“Private Placement
Lock-up Period” shall mean, with respect to Private Placement Warrants that are held
by the initial purchasers of such Private Placement Warrants or their Permitted Transferees, and the Ordinary Shares issuable upon the
exercise of such Private Placement Warrants, the period ending thirty (30) days after the completion of the Company’s initial Business
Combination.

 

“Private Placement
Warrants” shall have the meaning given in the Recitals hereto.

 

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

 

    3 

     

    

 

“Registrable Security”
shall mean (a) the Founder Shares (including any Ordinary Shares or other equivalent equity
security issued or issuable upon the conversion of any such Founder Shares or exercisable for Ordinary Shares), (b) the Private Placement
Warrants (and any Ordinary Shares issued or issuable upon the exercise of such Private Placement Warrants), (c) the Working Capital
Warrants (and any Ordinary Shares issued or issuable upon the exercise of such Working Capital Warrants), (d) any outstanding Ordinary
Shares or any other equity security (including the Ordinary Shares issued or issuable upon the exercise of any other equity security)
of the Company held by a Holder as of the date of this Agreement, and (e) any other equity security of the Company issued or issuable
with respect to any such Ordinary Shares by way of a share capitalization or share split or in connection with a combination of shares,
recapitalization, merger, consolidation or reorganization; provided, however, that, as to any particular Registrable Security,
such securities shall cease to be Registrable Securities when: (i) a Registration Statement with respect to the sale of such securities
shall have become effective under the Securities Act and such securities shall have been sold, transferred, disposed of or exchanged in
accordance with such Registration Statement; (ii) such securities shall have been otherwise transferred, new certificates for such
securities not bearing a legend restricting further transfer shall have been delivered by the Company and subsequent public distribution
of such securities shall not require registration under the Securities Act; (iii) such securities shall have ceased to be outstanding;
or (iv) such securities have been sold to, or through, a broker, dealer or underwriter in a public distribution or other public securities
transaction.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

(F)         reasonable
fees and expenses of one (1) legal counsel selected by the majority-in-interest of the Demanding Holders initiating a Demand Registration
to be registered for offer and sale in the applicable Registration or the Takedown Requesting Holder initiating an Underwritten Shelf
Takedown.

 

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

 

    4 

     

    

 

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

 

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

 

“Shelf”
shall have the meaning given in subsection 2.3.1.

 

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

 

“Sponsor Director”
means an individual elected to the Board that has been nominated by the Sponsor pursuant to this Agreement.

 

“Subsequent Shelf
Registration” shall have the meaning given in subsection 2.3.2.

 

“Takedown Requesting
Holder” shall have the meaning given in subsection 2.3.3.

 

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

 

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

 

“Underwritten
Shelf Takedown” shall have the meaning given in subsection 2.3.3.

 

“Working Capital
Warrants” shall have the meaning given in the Recitals hereto.

 

Article 2

REGISTRATIONS

 

2.1          Demand
Registration.

 

2.1.1       Request
for Registration. Subject to the provisions of subsection 2.1.4 and Section 2.4 hereof, at any time and from time
to time on or after the date the Company consummates the Business Combination, the Holders of at least a majority in interest of the
then-outstanding number of Registrable Securities (the “Demanding Holders”) may make a written demand for Registration
of all or part of their Registrable Securities, which written demand shall describe the amount and type of securities to be included
in such Registration and the intended method(s) of distribution thereof (such written demand a “Demand Registration”).
The Company shall, within five (5) days of the Company’s receipt of the Demand Registration, notify, in writing, all other
Holders of Registrable Securities of such demand, and each Holder of Registrable Securities who thereafter wishes to include all or a
portion of such Holder’s Registrable Securities in a Registration pursuant to a Demand Registration (each such Holder that includes
all or a portion of such Holder’s Registrable Securities in such Registration, a “Requesting Holder”)
shall so notify the Company, in writing, within three (3) business days after the receipt by the Holder of the notice from the Company.
Upon receipt by the Company of any such written notification from a Requesting Holder(s) to the Company, such Requesting Holder(s) shall
be entitled to have their Registrable Securities included in a Registration pursuant to a Demand Registration and the Company shall effect,
as soon thereafter as practicable, but not more than forty five (45) days immediately after the Company’s receipt of the Demand
Registration, the Registration of all Registrable Securities requested by the Demanding Holders and Requesting Holders pursuant to such
Demand Registration. Under no circumstances shall the Company be obligated to effect more than an aggregate of three (3) Registrations
pursuant to a Demand Registration under this subsection 2.1.1 with respect to any or all Registrable Securities; provided,
however, that a Registration shall not be counted for such purposes unless a Form S-1 or any similar long-form registration
statement that may be available at such time (“Form S-1”) has become effective and all of the Registrable
Securities requested by the Requesting Holders to be registered on behalf of the Requesting Holders in such Form S-1 Registration
have been sold, in accordance with Section 3.1 of this Agreement; provided, further, that an Underwritten Shelf
Takedown shall not count as a Demand Registration.

 

    5 

     

    

 

2.1.2       Effective
Registration. Notwithstanding the provisions of subsection 2.1.1 above or any other part of this Agreement, a Registration
pursuant to a Demand Registration shall not count as a Registration unless and until (i) the Registration Statement filed with the
Commission with respect to a Registration pursuant to a Demand Registration has been declared effective by the Commission and (ii) the
Company has complied with all of its obligations under this Agreement with respect thereto; provided, further, that if,
after such Registration Statement has been declared effective, an offering of Registrable Securities in a Registration pursuant to a Demand
Registration is subsequently interfered with by any stop order or injunction of the Commission, federal or state court or any other governmental
agency the Registration Statement with respect to such Registration shall be deemed not to have been declared effective, unless and until,
(i) such stop order or injunction is removed, rescinded or otherwise terminated and (ii) a majority-in-interest of the Demanding
Holders initiating such Demand Registration thereafter affirmatively elect to continue with such Registration and accordingly notify the
Company in writing, but in no event later than five (5) days, of such election; provided, further, that the Company
shall not be obligated or required to file another Registration Statement until the Registration Statement that has been previously filed
with respect to a Registration pursuant to a Demand Registration becomes effective or is subsequently terminated.

 

2.1.3     Underwritten
Offering. Subject to the provisions of subsection 2.1.4 and Section 2.4 hereof, if a majority-in-interest of the
Demanding Holders so advise the Company as part of their Demand Registration that the offering of the Registrable Securities pursuant
to such Demand Registration shall be in the form of an Underwritten Offering, then the right of such Demanding Holder or Requesting Holder
(if any) to include its Registrable Securities in such Registration shall be conditioned upon such Holder’s participation in such
Underwritten Offering and the inclusion of such Holder’s Registrable Securities in such Underwritten Offering to the extent provided
herein. All such Holders proposing to distribute their Registrable Securities through an Underwritten Offering under this subsection
2.1.3 shall enter into an underwriting agreement in customary form with the Underwriter(s) selected for such Underwritten Offering
by the majority-in-interest of the Demanding Holders initiating the Demand Registration.

 

    6 

     

    

 

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

 

2.1.5       Demand
Registration Withdrawal. A majority-in-interest of the Demanding Holders initiating a Demand Registration or a majority-in-interest
of the Requesting Holders (if any), pursuant to a Registration under subsection 2.1.1 shall have the right to withdraw from a
Registration pursuant to such Demand Registration for any or no reason whatsoever upon written notification to the Company and the Underwriter
or Underwriters (if any) of their intention to withdraw from such Registration prior to the effectiveness of the Registration Statement
filed with the Commission with respect to the Registration of their Registrable Securities pursuant to such Demand Registration. Notwithstanding
anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with
a Registration pursuant to a Demand Registration prior to its withdrawal under this subsection 2.1.5.

 

    7 

     

    

 

2.2          Piggyback
Registration.

 

2.2.1       Piggyback
Rights. If, at any time on or after the date the Company consummates a Business Combination, the Company proposes to file a Registration
Statement under the Securities Act with respect to an offering of equity securities, or securities or other obligations exercisable or
exchangeable for, or convertible into equity securities, for its own account or for the account of shareholders of the Company (or by
the Company and by the shareholders of the Company including, without limitation, pursuant to Section 2.1 hereof), other
than a Registration Statement (i) filed in connection with any employee stock option or other benefit plan, (ii) for an exchange
offer or offering of securities solely to the Company’s existing shareholders, (iii) for an offering of debt that is convertible
into equity securities of the Company or (iv) for a dividend reinvestment plan, then the Company shall give written notice of such
proposed filing to all of the Holders of Registrable Securities as soon as practicable but not less than seven (7) days before the
anticipated filing date of such Registration Statement, which notice shall (A) describe the amount and type of securities to be
included in such offering, the intended method(s) of distribution, and the name of the proposed managing Underwriter or Underwriters,
if any, in such offering, and (B) offer to all of the Holders of Registrable Securities the opportunity to register the sale of
such number of Registrable Securities as such Holders may request in writing within three (3) business days after receipt of such
written notice (such Registration a “Piggyback Registration”). The Company shall, in good faith, cause such
Registrable Securities to be included in such Piggyback Registration and shall use its best efforts to cause the managing Underwriter
or Underwriters of a proposed Underwritten Offering to permit the Registrable Securities requested by the Holders pursuant to this subsection
2.2.1 to be included in a Piggyback Registration on the same terms and conditions as any similar securities of the Company included
in such Registration and to permit the sale or other disposition of such Registrable Securities in accordance with the intended method(s) of
distribution thereof. All such Holders proposing to distribute their Registrable Securities through an Underwritten Offering under this
subsection 2.2.1 shall enter into an underwriting agreement in customary form with the Underwriter(s) selected for such Underwritten
Offering by the Company. The notice periods set forth in this subsection 2.2.1 shall not apply to an Underwritten Shelf Takedown
conducted in accordance with subsection 2.3.3.

 

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

 

(a)         If
the Registration is undertaken for the Company’s account, the Company shall include in any such Registration (A) first, the
Ordinary Shares or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum Number of
Securities; and (B) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (A),
the Registrable Securities of Holders exercising their rights to register their Registrable Securities pursuant to subsection 2.2.1
hereof, Pro Rata based on the respective number of Registrable Securities that each Holder has so requested exercising its rights to register
its Registrable Securities pursuant to subsection 2.2.1 hereof, which can be sold without exceeding the Maximum Number of Securities;
and (C) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A) and
(B), the Ordinary Shares, if any, as to which Registration has been requested pursuant to written contractual piggy-back registration
rights of other shareholders of the Company, which can be sold without exceeding the Maximum Number of Securities;

 

    8 

     

    

 

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

 

2.2.3     Piggyback
Registration Withdrawal. Any Holder of Registrable Securities shall have the right to withdraw from a Piggyback Registration for any
or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters (if any) of his, her or its intention
to withdraw from such Piggyback Registration prior to the effectiveness of the Registration Statement filed with the Commission with respect
to such Piggyback Registration. The Company (whether on its own good faith determination or as the result of a request for withdrawal
by persons pursuant to separate written contractual obligations) may withdraw a Registration Statement filed with the Commission in connection
with a Piggyback Registration at any time prior to the effectiveness of such Registration Statement. Notwithstanding anything to the contrary
in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with the Piggyback Registration
prior to its withdrawal under this subsection 2.2.3.

 

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

 

    9 

     

    

 

2.3          Shelf
Registrations.

 

2.3.1      The
Holders of Registrable Securities may at any time, and from time to time, request in writing that the Company, pursuant to Rule 415
under the Securities Act (or any successor rule promulgated thereafter by the Commission), register the resale of any or all of
their Registrable Securities on Form S-3 or similar short form registration statement that may be available at such time (“Form S-3”),
or if the Company is ineligible to use Form S-3, on Form S-1; a registration statement filed pursuant to this subsection
2.3.1 (a “Shelf”) shall provide for the resale of the Registrable Securities included therein pursuant
to any method or combination of methods legally available to, and requested by, any Holder. Within three (3) days of the Company’s
receipt of a written request from a Holder or Holders of Registrable Securities for a Registration on a Shelf, the Company shall promptly
give written notice of the proposed Registration to all other Holders of Registrable Securities, and each Holder of Registrable Securities
who thereafter wishes to include all or a portion of such Holder’s Registrable Securities in such Registration shall so notify
the Company, in writing, within three (3) business days after the receipt by the Holder of the notice from the Company. As soon
as practicable thereafter, but not more than ten (10) days after the Company’s initial receipt of such written request for
a Registration on a Shelf, the Company shall register all or such portion of such Holder’s Registrable Securities as are specified
in such written request, together with all or such portion of Registrable Securities of any other Holder or Holders joining in such request
as are specified in the written notification given by such Holder or Holders; provided, however, that the Company shall not be obligated
to effect any such Registration pursuant to this subsection 2.3.1 if the Holders of Registrable Securities, together with the
Holders of any other equity securities of the Company entitled to inclusion in such Registration, propose to sell the Registrable Securities
and such other equity securities (if any) at any aggregate price to the public of less than $[10,000,000]. The Company shall maintain
each Shelf in accordance with the terms hereof, and shall prepare and file with the SEC such amendments, including post-effective amendments,
and supplements as may be necessary to keep such Shelf continuously effective, available for use and in compliance with the provisions
of the Securities Act until such time as there are no longer any Registrable Securities included on such Shelf. In the event the Company
files a Shelf on Form S-1, the Company shall use its commercially reasonable efforts to convert the Form S-1 to a Form S-3
as soon as practicable after the Company is eligible to use Form S-3.

 

2.3.2       If
any Shelf ceases to be effective under the Securities Act for any reason at any time while Registrable Securities included thereon are
still outstanding, the Company shall use its commercially reasonable efforts to as promptly as is reasonably practicable cause such Shelf
to again become effective under the Securities Act (including obtaining the prompt withdrawal of any order suspending the effectiveness
of such Shelf), and shall use its commercially reasonable efforts to as promptly as is reasonably practicable amend such Shelf in a manner
reasonably expected to result in the withdrawal of any order suspending the effectiveness of such Shelf or file an additional registration
statement (a “Subsequent Shelf Registration”) registering the resale of all Registrable Securities including
on such Shelf, and pursuant to any method or combination of methods legally available to, and requested by, any Holder. If a Subsequent
Shelf Registration is filed, the Company shall use its commercially reasonable efforts to (i) cause such Subsequent Shelf Registration
to become effective under the Securities Act as promptly as is reasonably practicable after the filing thereof and (ii) keep such
Subsequent Shelf Registration continuously effective, available for use and in compliance with the provisions of the Securities Act until
such time as there are no longer any Registrable Securities included thereon. Any such Subsequent Shelf Registration shall be on Form S-3
to the extent that the Company is eligible to use such form. Otherwise, such Subsequent Shelf Registration shall be on another appropriate
form. In the event that any Holder holds Registrable Securities that are not registered for resale on a delayed or continuous basis, the
Company, upon request of a Holder shall promptly use its commercially reasonable efforts to cause the resale of such Registrable Securities
to be covered by either, at the Company’s option, a Shelf (including by means of a post-effective amendment) or a Subsequent Shelf
Registration and cause the same to become effective as soon as practicable after such filing and such Shelf or Subsequent Shelf Registration
shall be subject to the terms hereof; provided, however, the Company shall only be required to cause such Registrable Securities
to be so covered once annually after inquiry of the Holders.

 

    10 

     

    

 

2.3.3      At
any time and from time to time after a Shelf has been declared effective by the Commission, the Sponsor may request to sell all or any
portion of its Registrable Securities in an underwritten offering that is registered pursuant to the Shelf (each, an “Underwritten
Shelf Takedown”); provided that the Company shall only be obligated to effect an Underwritten Shelf Takedown if such
offering shall include securities with a total offering price (including piggyback securities and before deduction of underwriting discounts)
reasonably expected to exceed, in the aggregate, $[10,000,000]. All requests for Underwritten Shelf Takedowns shall be made by giving
written notice to the Company at least 48 hours prior to the public announcement of such Underwritten Shelf Takedown, which shall specify
the approximate number of Registrable Securities proposed to be sold in the Underwritten Shelf Takedown and the expected price range (net
of underwriting discounts and commissions) of such Underwritten Shelf Takedown. The Company shall include in any Underwritten Shelf Takedown
the securities requested to be included by any holder (each a “Takedown Requesting Holder”) at least 24 hours
prior to the public announcement of such Underwritten Shelf Takedown pursuant to written contractual piggyback registration rights of
such holder (including to those set forth herein). The Sponsor shall have the right to select the underwriter(s) for such offering
(which shall consist of one or more reputable nationally recognized investment banks), subject to the Company’s prior approval which
shall not be unreasonably withheld, conditioned or delayed. For purposes of clarity, any Registration effected pursuant to this subsection
2.3.3 shall not be counted as a Registration pursuant to a Demand Registration effected under Section 2.1 hereof.

 

2.3.4      If
the managing Underwriter or Underwriters in an Underwritten Shelf Takedown, in good faith, advises the Company, the Sponsor and the Takedown
Requesting Holders (if any) in writing that the dollar amount or number of Registrable Securities that the Sponsor and the Takedown Requesting
Holders (if any) desire to sell, taken together with all other Ordinary Shares or other equity securities that the Company desires to
sell, exceeds the Maximum Number of Securities, then the Company shall include in such Underwritten Shelf Takedown, as follows: (i) first,
the Registrable Securities of the Sponsor that can be sold without exceeding the Maximum Number of Securities; (ii) second, to the
extent that the Maximum Number of Securities has not been reached under the foregoing clause (i), the Ordinary Shares or other equity
securities that the Company desires to sell, which can be sold without exceeding the Maximum Number of Securities; and (iii) third,
to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (i) and (ii), the Ordinary Shares
or other equity securities of the Takedown Requesting Holders, if any, that can be sold without exceeding the Maximum Number of Securities,
determined Pro Rata based on the respective number of Registrable Securities that each Takedown Requesting Holder has so requested to
be included in such Underwritten Shelf Takedown.

 

2.3.5      The
Sponsor shall have the right to withdraw from an Underwritten Shelf Takedown for any or no reason whatsoever upon written notification
to the Company and the Underwriter or Underwriters (if any) of its intention to withdraw from such Underwritten Shelf Takedown prior
to the public announcement of such Underwritten Shelf Takedown. Notwithstanding anything to the contrary in this Agreement, the Company
shall be responsible for the Registration Expenses incurred in connection with an Underwritten Shelf Takedown prior to a withdrawal under
this subsection 2.3.5.

 

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2.4         Restrictions
on Registration Rights. If (A) during the period starting with the date sixty (60) days prior to the Company’s good faith
estimate of the date of the filing of, and ending on a date one hundred and twenty (120) days after the effective date of, a Company
initiated Registration and provided that the Company has delivered written notice to the Holders prior to receipt of a Demand Registration
pursuant to subsection 2.1.1 and it continues to actively employ, in good faith, all reasonable efforts to cause the applicable
Registration Statement to become effective; (B) the Holders have requested an Underwritten Registration and the Company and the
Holders are unable to obtain the commitment of underwriters to firmly underwrite the offer; or (C) in the good faith judgment of
the Board such Registration would be seriously detrimental to the Company and the Board concludes as a result that it is essential to
defer the filing of such Registration Statement at such time, then in each case the Company shall furnish to such Holders a certificate
signed by the Chairman of the Board stating that in the good faith judgment of the Board it would be seriously detrimental to the Company
for such Registration Statement to be filed in the near future and that it is therefore essential to defer the filing of such Registration
Statement. In such event, the Company shall have the right to defer such filing for a period of not more than thirty (30) days; provided,
however, that the Company shall not defer its obligation in this manner more than once in any 12-month period. Notwithstanding anything
to the contrary contained in this Agreement, no Registration shall be effected or permitted and no Registration Statement shall become
effective, with respect to any Registrable Securities held by any Holder, until after the expiration of the Founder Shares Lock-Up Period
or the Private Placement Lock-Up Period, as the case may be.

 

Article 3

COMPANY PROCEDURES

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

3.1.8      at
least five (5) days prior to the filing of any Registration Statement or Prospectus or any amendment or supplement to such Registration
Statement or Prospectus (other than by way of a document incorporated by reference) furnish a copy thereof to each seller of such Registrable
Securities or its counsel;

 

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

 

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3.1.10    permit
a representative of the Holders, the Underwriters, if any, and any attorney or accountant retained by such Holders or Underwriters to
participate, at each such person’s own expense, in the preparation of the Registration Statement, and cause the Company’s
officers, directors and employees to supply all information reasonably requested by any such representative, Underwriter, attorney or
accountant in connection with the Registration; provided, however, that such representatives or Underwriters enter into
a confidentiality agreement, in form and substance reasonably satisfactory to the Company, prior to the release or disclosure of any such
information;

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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Article 4

INDEMNIFICATION AND CONTRIBUTION

 

4.1          Indemnification.

 

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

 

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

 

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

 

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

 

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

 

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Article 5

SHAREHOLDER RIGHTS

 

5.1         Subject
to the terms and conditions of this Agreement, at any time and from time to time on or after the date that the Company consummates a Business
Combination and for so long as the Sponsor (or its successor, assignees or distributees) holds any Registrable Securities:

 

5.1.1      The
Sponsor shall have the right, but not the obligation, to designate three individuals to be appointed or nominated, as the case may be,
for election to the Board (including any successor, each, a “Nominee”) by giving written notice to the Company
on or before the time such information is reasonably requested by the Board or the Nominating Committee of the Board, as applicable, for
inclusion in a proxy statement for a meeting of shareholders provided to the Sponsor.

 

5.1.2     The
Company will, as promptly as practicable, use its best efforts to take all necessary and desirable actions (including, without limitation,
calling special meetings of the Board and the shareholders and recommending, supporting and soliciting proxies) so that there are three
Sponsor Directors serving on the Board at all times.

 

5.1.3      The
Company shall, to the fullest extent permitted by applicable law, use its best efforts to take all actions necessary to ensure that: (i) each
Nominee is included in the Board’s slate of nominees to the shareholders of the Company for each election of Directors; and (ii) each
Nominee is included in the proxy statement prepared by management of the Company in connection with soliciting proxies for every meeting
of the shareholders of the Company called with respect to the election of members of the Board, and at every adjournment or postponement
thereof, and on every action or approval by written consent of the shareholders of the Company or the Board with respect to the election
of members of the Board.

 

5.1.4      If
a vacancy occurs because of the death, disability, disqualification, resignation, or removal of a Sponsor Director or for any other reason,
the Sponsor shall be entitled to designate such person’s successor, and the Company will, as promptly as practicable following such
designation, use its best efforts to take all necessary and desirable actions, to the fullest extent permitted by law, within its control
such that such vacancy shall be filled with such successor Nominee.

 

5.1.5      If
a Nominee is not elected because of such Nominee’s death, disability, disqualification, withdrawal as a nominee or for any other
reason, the Sponsor shall be entitled to designate promptly another Nominee and the Company will take all necessary and desirable actions
within its control such that the director position for which such Nominee was nominated shall not be filled pending such designation or
the size of the Board shall be increased by one and such vacancy shall be filled with such successor Nominee as promptly as practicable
following such designation.

 

5.1.6     As
promptly as reasonably practicable following the request of any Sponsor Director, the Company shall enter into an indemnification agreement
with such Sponsor Director, in the form entered into with the other members of the Board. The Company shall pay the reasonable, documented
out-of-pocket expenses incurred by the Sponsor Director in connection with his or her services provided to or on behalf of the Company,
including attending meetings or events attended explicitly on behalf of the Company at the Company’s request.

 

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5.1.7      The
Company shall (i) purchase directors’ and officers’ liability insurance in an amount determined by the Board to be reasonable
and customary and (ii) for so long as a Sponsor Director serves as a Director of the Company, maintain such coverage with respect
to such Sponsor Director; provided that upon removal or resignation of such Sponsor Director for any reason, the Company shall
take all actions reasonably necessary to extend such directors’ and officers’ liability insurance coverage for a period of
not less than six years from any such event in respect of any act or omission occurring at or prior to such event.

 

5.1.8      For
so long as a Sponsor Director serves as a Director of the Company, the Company shall not amend, alter or repeal any right to indemnification
or exculpation covering or benefiting any Director nominated pursuant to this Agreement as and to the extent consistent with applicable
law, whether such right is contained in the Company’s amended and restated memorandum and articles of association, each as amended,
or another document (except to the extent such amendment or alteration permits the Company to provide broader indemnification or exculpation
rights on a retroactive basis than permitted prior thereto).

 

5.1.9      Each
Nominee may, but does not need to qualify as “independent” pursuant to listing standards of the Nasdaq Global Market (or
such other national securities exchange upon which the Company’s securities are then listed).

 

5.1.10     Any
Nominee will be subject to the Company’s customary due diligence process, including its review of a completed questionnaire and
a background check. Based on the foregoing, the Company may object to any Nominee provided (a) it does so in good faith, and (b) such
objection is based upon any of the following: (i) such Nominee was convicted in a criminal proceeding or is a named subject of a
pending criminal proceeding (excluding traffic violations and other minor offenses), (ii) such Nominee was the subject of any order,
judgment, or decree not subsequently reversed, suspended or vacated of any court of competent jurisdiction, permanently or temporarily
enjoining such proposed director from, or otherwise limiting, the following activities: (A) engaging in any type of business practice,
or (B) engaging in any activity in connection with the purchase or sale of any security or in connection with any violation of federal
or state securities laws, (iii) such Nominee was the subject of any order, judgment or decree, not subsequently reversed, suspended
or vacated, of any federal or state authority barring, suspending or otherwise limiting for more than 60 days the right of such person
to engage in any activity described in clause (ii)(B), or to be associated with persons engaged in such activity, (iv) such proposed
director was found by a court of competent jurisdiction in a civil action or by the Commission to have violated any federal or state securities
law, and the judgment in such civil action or finding by the Commission has not been subsequently reversed, suspended or vacated, or (v) such
proposed director was the subject of, or a party to any federal or state judicial or administrative order, judgment, decree, or finding,
not subsequently reversed, suspended or vacated, relating to a violation of any federal or state securities laws or regulations. In the
event the Board reasonably finds the Nominee to be unsuitable based upon one or more of the foregoing clauses (i) through (v) and
reasonably objects to the identified director, Sponsor shall be entitled to propose a different nominee to the Board within 30 calendar
days of the Company’s notice to Sponsor of its objection to the Nominee and such replacement Nominee shall be subject to the review
process outlined above.

 

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5.1.11     The
Company shall take all necessary action to cause a Nominee chosen by the Sponsor, at the request of such Nominee to be elected to the
board of directors (or similar governing body) of each material operating subsidiary of the Company. The Nominee, as applicable, shall
have the right to attend (in person or remotely) any meetings of the board of directors (or similar governing body or committee thereof)
of each subsidiary of the Company.

 

Article 6

MISCELLANEOUS

 

6.1          Notices.
Any notice or communication under this Agreement must be in writing and given by (i) deposit in the United States mail, addressed
to the party to be notified, postage prepaid and registered or certified with return receipt requested, (ii) delivery in person
or by courier service providing evidence of delivery, or (iii) transmission by hand delivery, electronic mail, telecopy, telegram
or facsimile. Each notice or communication that is mailed, delivered, or transmitted in the manner described above shall be deemed sufficiently
given, served, sent, and received, in the case of mailed notices, on the third business day following the date on which it is mailed
and, in the case of notices delivered by courier service, hand delivery, electronic mail, telecopy, telegram or facsimile, at such time
as it is delivered to the addressee (with the delivery receipt or the affidavit of messenger) or at such time as delivery is refused
by the addressee upon presentation. Any notice or communication under this Agreement must be addressed, if to the Company, to: 7 Acquisition
Corporation, 750 East Main Street, Suite 600, Stamford, CT 06902, Attention: [●], with copy to; Kirkland & Ellis
LLP, 601 Lexington Avenue, New York, New York 10022, Attention: Christian O. Nagler / Lisa Zhang, and, if to any Holder, at such Holder’s
address or facsimile number as set forth in the Company’s books and records. Any party may change its address for notice at any
time and from time to time by written notice to the other parties hereto, and such change of address shall become effective thirty (30)
days after delivery of such notice as provided in this Section 6.1.

 

6.2          Assignment;
No Third Party Beneficiaries.

 

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

 

6.2.2     Prior
to the expiration of the Founder Shares Lock-up Period or the Private Placement Lock-up Period, as the case may be, no Holder may assign
or delegate such Holder’s rights, duties or obligations under this Agreement, in whole or in part, except in connection with a transfer
of Registrable Securities by such Holder to a Permitted Transferee.

 

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

 

6.2.4      This
Agreement shall not confer any rights or benefits on any persons that are not parties hereto, other than as expressly set forth in this
Agreement and Section 6.2 hereof.

 

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6.2.5      No
assignment by any party hereto of such party’s rights, duties and obligations hereunder shall be binding upon or obligate the Company
unless and until the Company shall have received (i) written notice of such assignment as provided in Section 6.1 hereof
and (ii) the written agreement of the assignee, in a form reasonably satisfactory to the Company, to be bound by the terms and provisions
of this Agreement (which may be accomplished by an addendum or certificate of joinder to this Agreement). Any transfer or assignment
made other than as provided in this Section 6.2 shall be null and void.

 

6.3          Severability.
This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the
validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable
term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision as similar in terms to
such invalid or unenforceable provision as may be possible that is valid and enforceable.

 

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

 

6.5        Entire
Agreement. This Agreement (including all agreements entered into pursuant hereto and all certificates and instruments delivered pursuant
hereto and thereto) constitute the entire agreement of the parties with respect to the subject matter hereof and supersede all prior
and contemporaneous agreements, representations, understandings, negotiations and discussions between the parties, whether oral or written.

 

6.6         Governing
Law; Venue. NOTWITHSTANDING THE PLACE WHERE THIS AGREEMENT MAY BE EXECUTED BY ANY OF THE PARTIES HERETO, THE PARTIES EXPRESSLY
AGREE THAT THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS OF THE STATE OF NEW YORK AS APPLIED TO AGREEMENTS AMONG NEW
YORK RESIDENTS ENTERED INTO AND TO BE PERFORMED ENTIRELY WITHIN NEW YORK, WITHOUT REGARD TO THE CONFLICT OF LAW PROVISIONS OF SUCH JURISDICTION.

 

6.7         WAIVER
OF TRIAL BY JURY. EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES THE RIGHT TO A TRIAL BY JURY IN ANY ACTION, SUIT, COUNTERCLAIM
OR OTHER PROCEEDING (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF, CONNECTED WITH OR RELATING TO THIS AGREEMENT, THE
TRANSACTIONS CONTEMPLATED HEREBY, OR THE ACTIONS OF THE SPONSOR IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT HEREOF.

 

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

 

    21 

     

    

 

6.9          Titles
and Headings. Titles and headings of sections of this Agreement are for convenience only and shall not affect the construction of
any provision of this Agreement.

 

6.10       Waivers
and Extensions. Any party to this Agreement may waive any right, breach or default which such party has the right to waive, provided
that such waiver will not be effective against the waiving party unless it is in writing, is signed by such party, and specifically refers
to this Agreement. Waivers may be made in advance or after the right waived has arisen or the breach or default waived has occurred.
Any waiver may be conditional. No waiver of any breach of any agreement or provision herein contained shall be deemed a waiver of any
preceding or succeeding breach thereof nor of any other agreement or provision herein contained. No waiver or extension of time for performance
of any obligations or acts shall be deemed a waiver or extension of the time for performance of any other obligations or acts.

 

6.11        Remedies
Cumulative. In the event that the Company fails to observe or perform any covenant or agreement to be observed or performed under
this Agreement, the Holders may proceed to protect and enforce its rights by suit in equity or action at law, whether for specific performance
of any term contained in this Agreement or for an injunction against the breach of any such term or in aid of the exercise of any power
granted in this Agreement or to enforce any other legal or equitable right, or to take any one or more of such actions, without being
required to post a bond. None of the rights, powers or remedies conferred under this Agreement shall be mutually exclusive, and each
such right, power or remedy shall be cumulative and in addition to any other right, power or remedy, whether conferred by this Agreement
or now or hereafter available at law, in equity, by statute or otherwise.

 

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

 

6.13        Term.
This Agreement shall terminate upon the earlier of (i) the tenth anniversary of the date of this Agreement and (ii) the date
as of which no Registrable Securities remain outstanding. The provisions of Section 3.5 and Article IV shall
survive any termination.

 

[SIGNATURE PAGES FOLLOW]

 

    22 

     

    

 

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

 

	 	COMPANY:
	 	 
	 	7 ACQUISITION CORPORATION

 

		By:	
		Name:	Joel Haney
		Title:	Chief Financial Officer

 

[SIGNATURE PAGE TO COMPANY REGISTRATION RIGHTS AGREEMENT]

 

     

     

    

 

	 	HOLDERS:
	 	 
	 	7 ACQUISITION HOLDINGS, LLC

 

		By:	

		Name:

		Title:

 

[SIGNATURE PAGE TO SPONSOR REGISTRATION RIGHTS AGREEMENT]

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