Document:

Exhibit 10.7

 

AC I Corp.

399 Park Ave.

New York, New York 10022

 

December 23, 2020

 

CAA 1 LLC

399 Park Ave.

New York, New York 10022 

 

		RE:	Securities
Subscription Agreement

 

Ladies and Gentlemen:

 

This agreement (the “Agreement”)
is entered into on December 23, 2020 by and between CAA 1 LLC, a Delaware limited liability company (the “Subscriber”
or “you”), and AC I Corp., a Delaware corporation (the “Company”, “we”
or “us”). Pursuant to the terms hereof, the Company hereby accepts the offer the Subscriber has made to purchase
7,187,500 shares of Class B common stock, $0.0001 par value per share (the “Shares”), up to 937,500 of which
are subject to forfeiture by you if the underwriters of the initial public offering (“IPO”) of units (“Units”)
of the Company, do not fully exercise their over-allotment option (the “Over-allotment Option”). The Company
and the Subscriber’s agreements regarding such Shares are as follows:

 

1. Purchase of Securities.

 

1.1. Purchase of Shares.
For the sum of $25,000 (the “Purchase Price”), which the Company acknowledges receiving in cash, the Company
hereby issues the Shares to the Subscriber, and the Subscriber hereby purchases the Shares from the Company, subject to forfeiture,
on the terms and subject to the conditions set forth in this Agreement.  Concurrently
with the Subscriber’s execution of this Agreement, the Company shall, at its option, deliver to the Subscriber a certificate
registered in the Subscriber’s name representing the shares (the “Original Certificate”), or effect such
delivery in book-entry form.

 

2. Representations, Warranties
and Agreements.

 

2.1. Subscriber’s Representations,
Warranties and Agreements. To induce the Company to issue the Shares to the Subscriber, the Subscriber hereby represents and
warrants to the Company and agrees with the Company as follows:

 

2.1.1. No Government Recommendation
or Approval. The Subscriber understands that no federal or state agency has passed upon or made any recommendation or endorsement
of the offering of the Shares.

 

2.1.2. No Conflicts. The execution,
delivery and performance of this Agreement and the consummation by the Subscriber of the transactions contemplated hereby do not
violate, conflict with or constitute a default under (i) the formation and governing documents of the Subscriber, (ii) any agreement,
indenture or instrument to which the Subscriber is a party or (iii) any law, statute, rule or regulation to which the Subscriber
is subject, or any agreement, order, judgment or decree to which the Subscriber is subject.

 

2.1.3. Organization and Authority.
The Subscriber is a Delaware limited liability company, validly existing and in good standing under the laws of Delaware and possesses
all requisite power and authority necessary to carry out the transactions contemplated by this Agreement. Upon execution and delivery
by you, this Agreement is a legal, valid and binding agreement of Subscriber, enforceable against Subscriber in accordance with
its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance or similar
laws affecting the enforcement of creditors’ rights generally and subject to general principles of equity (regardless of
whether enforcement is sought in a proceeding at law or in equity). 

 

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2.1.4. Experience, Financial Capability
and Suitability. Subscriber is: (i) sophisticated in financial matters and is able to evaluate the risks and benefits of the
investment in the Shares and (ii) able to bear the economic risk of its investment in the Shares for an indefinite period of time
because the Shares have not been registered under the Securities Act (as defined below) and therefore cannot be sold unless subsequently
registered under the Securities Act or an exemption from such registration is available. Subscriber is capable of evaluating the
merits and risks of its investment in the Company and has the capacity to protect its own interests. Subscriber must bear the economic
risk of this investment until the Shares are sold pursuant to: (i) an effective registration statement under the Securities Act
or (ii) an exemption from registration available with respect to such sale. Subscriber is able to bear the economic risks of an
investment in the Shares and to afford a complete loss of Subscriber’s investment in the Shares.

 

2.1.5. Access to Information; Independent
Investigation. Prior to the execution of this Agreement, the Subscriber has had the opportunity to ask questions of and receive
answers from representatives of the Company concerning an investment in the Company, as well as the finances, operations, business
and prospects of the Company, and the opportunity to obtain additional information to verify the accuracy of all information so
obtained. In determining whether to make this investment, Subscriber has relied solely on Subscriber’s own knowledge and
understanding of the Company and its business based upon Subscriber’s own due diligence investigation and the information
furnished pursuant to this paragraph. Subscriber understands that no person has been authorized to give any information or to make
any representations which were not furnished pursuant to this Section 2 and Subscriber has not relied on any other representations
or information in making its investment decision, whether written or oral, relating to the Company, its operations and/or its prospects.

 

2.1.6. Regulation D Offering.
Subscriber represents that it is an “accredited investor” as such term is defined in Rule 501(a) of Regulation D under
the Securities Act of 1933, as amended (the “Securities Act”) and acknowledges the sale contemplated hereby
is being made in reliance on a private placement exemption to “accredited investors” within the meaning of Section
501(a) of Regulation D under the Securities Act or similar exemptions under state law.

 

2.1.7. Investment Purposes.
The Subscriber is purchasing the Shares solely for investment purposes, for the Subscriber’s own account and not for the
account or benefit of any other person, and not with a view towards the distribution or dissemination thereof. The Subscriber did
not decide to enter into this Agreement as a result of any general solicitation or general advertising within the meaning of Rule
502 under the Securities Act.

 

2.1.8. Restrictions on Transfer;
Shell Company. Subscriber understands the Shares are being offered in a transaction not involving a public offering within
the meaning of the Securities Act. Subscriber understands the Shares will be “restricted securities” within the meaning
of Rule 144(a)(3) under the Securities Act, and Subscriber understands that the certificates or book-entries representing the Shares
will contain a legend in respect of such restrictions. If in the future the Subscriber decides to offer, resell, pledge or otherwise
transfer the Shares, such Shares may be offered, resold, pledged or otherwise transferred only pursuant to: (i) registration under
the Securities Act, or (ii) an available exemption from registration. Subscriber agrees that if any transfer of its Shares or any
interest therein is proposed to be made, as a condition precedent to any such transfer, Subscriber may be required to deliver to
the Company an opinion of counsel satisfactory to the Company. Absent registration or an exemption, the Subscriber agrees not to
resell the Shares. Subscriber further acknowledges that because the Company is a shell company, Rule 144 may not be available to
the Subscriber for the resale of the Shares until one year following consummation of the initial business combination of the Company,
despite technical compliance with the requirements of Rule 144 and the release or waiver of any contractual transfer restrictions.

 

2.1.9. No Governmental Consents.
No governmental, administrative or other third party consents or approvals are required, necessary or appropriate on the part of
Subscriber in connection with the transactions contemplated by this Agreement.

 

2.2. Company’s Representations,
Warranties and Agreements. To induce the Subscriber to purchase the Shares, the Company hereby represents and warrants to the
Subscriber and agrees with the Subscriber as follows:

 

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2.2.1. Organization and Corporate
Power. The Company is a Delaware corporation and is qualified to do business in every jurisdiction in which the failure to
so qualify would reasonably be expected to have a material adverse effect on the financial condition, operating results or assets
of the Company. The Company possesses all requisite corporate power and authority necessary to carry out the transactions contemplated
by this Agreement.

 

2.2.2. No Conflicts. The execution,
delivery and performance of this Agreement and the consummation by the Company of the transactions contemplated hereby do not violate,
conflict with or constitute a default under (i) the Certificate of Incorporation or By Laws of the Company, (ii) any agreement,
indenture or instrument to which the Company is a party or (iii) any law, statute, rule or regulation to which the Company is subject,
or any agreement, order, judgment or decree to which the Company is subject.

 

2.2.3. Title to Securities.
Upon issuance in accordance with, and payment pursuant to, the terms hereof, the Shares will be duly and validly issued, fully
paid and nonassessable. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the Subscriber will have or
receive good title to the Shares, free and clear of all liens, claims and encumbrances of any kind, other than (a) transfer restrictions
hereunder and other agreements to which the Shares may be subject which have been notified to the Subscriber in writing, (b) transfer
restrictions under federal and state securities laws, and (c) liens, claims or encumbrances imposed due to the actions of the Subscriber.

 

2.2.4. No Adverse Actions. There
are no actions, suits, investigations or proceedings pending, threatened against or affecting the Company which: (i) seek to restrain,
enjoin, prevent the consummation of or otherwise affect the transactions contemplated by this Agreement or (ii) question the validity
or legality of any transactions or seeks to recover damages or to obtain other relief in connection with any transactions.

 

3. Forfeiture of Shares.

 

3.1. Partial or No Exercise
of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO is not exercised
in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any
and all rights to such number of Shares (up to an aggregate of 937,500 Shares and pro rata based upon the percentage of the Over-allotment
Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders prior to
the IPO, if any) will own an aggregate number of Shares, not including Shares issuable upon exercise of any warrants or any Common
Stock purchased by Subscriber in the IPO or in the aftermarket equal to 20% of the issued and outstanding Shares immediately following
the IPO.

 

3.2. Termination of Rights
as Stockholder. If any of the Shares are forfeited in accordance with this Section 3, then after such time the Subscriber (or
successor in interest), shall no longer have any rights as a holder of such forfeited Shares, and the Company shall take such action
as is appropriate to cancel such forfeited Shares.

 

3.3. Share Certificates.
In the event an adjustment to the Original Certificates, if any, is required pursuant
to this Section 3, then the Subscriber shall return such Original Certificates to the Company or its designated agent as soon
as practicable upon its receipt of notice from the Company advising Subscriber of such adjustment, following which a new certificate
(the “New Certificate”), if any, shall be issued in such amount representing the adjusted number of Shares held
by the Subscriber. The New Certificate, if any, shall be returned to the Subscriber as soon as practicable. Any such adjustment
for any uncertificated securities held by the Subscriber shall be made in book-entry form.

 

4. Waiver of Liquidation Distributions; Redemption Rights.
In connection with the Shares purchased pursuant to this Agreement, the Subscriber hereby waives any and all right, title, interest
or claim of any kind in or to any distributions by the Company from the trust account which will be established for the benefit
of the Company’s public stockholders and into which substantially all of the proceeds of the IPO will be deposited (the “Trust
Account”), in the event of a liquidation of the Company upon the Company’s failure to timely complete an initial
business combination. For purposes of clarity, in the event the Subscriber purchases Shares in the IPO or in the aftermarket, any
additional Shares so purchased shall be eligible to receive any liquidating distributions by the Company. However, in no event
will the Subscriber have the right to redeem any Shares into funds held in the Trust Account upon the successful completion of
an initial business combination.

 

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5. Restrictions on Transfer.

 

5.1. Securities Law Restrictions.
In addition to any restrictions to be contained in that certain letter agreement (commonly known as an “Insider Letter”)
to be dated as of the closing of the IPO by and between Subscriber and the Company, Subscriber agrees not to sell, transfer, pledge,
hypothecate or otherwise dispose of all or any part of the Shares unless, prior thereto (a) a registration statement on the appropriate
form under the Securities Act and applicable state securities laws with respect to the Shares proposed to be transferred shall
then be effective or (b) the Company has received an opinion from counsel reasonably satisfactory to the Company, that such registration
is not required because such transaction is exempt from registration under the Securities Act and the rules promulgated by the
Securities and Exchange Commission thereunder and with all applicable state securities laws. 

 

5.2.  Lock-up.
Subscriber acknowledges that the Securities will be subject to lock-up provisions (the “Lock-up”) contained
in the Insider Letter.

 

5.3.  Restrictive Legends.
Any certificates representing the Shares shall have endorsed thereon legends substantially as follows:

 

“THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS AND NEITHER THE SECURITIES NOR ANY INTEREST THEREIN
MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER
SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL, IS AVAILABLE.”

 

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT
TO A LOCKUP AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE TERM OF THE LOCKUP.”

 

5.4. Additional Shares or
Substituted Securities. In the event of the declaration of a share dividend, the declaration of an extraordinary dividend payable
in a form other than Shares, a spin-off, a share split, an adjustment in conversion ratio, a recapitalization or a similar transaction
affecting the Company’s outstanding Shares without receipt of consideration, any new, substituted or additional securities
or other property which are by reason of such transaction distributed with respect to any Shares subject to this Section 5 or into
which such Shares thereby become convertible shall immediately be subject to this Section 5 and Section 3. Appropriate adjustments
to reflect the distribution of such securities or property shall be made to the number and/or class of Shares subject to this Section
5 and Section 3.

 

5.5. Registration Rights.
Subscriber acknowledges that the Shares are being purchased pursuant to an exemption from the registration requirements of the
Securities Act and will become freely tradable only after certain conditions are met or they are registered pursuant to a registration
rights agreement to be entered into with the Company prior to the closing of the IPO.

 

6. Other Agreements.

 

6.1. Further Assurances.
Subscriber agrees to execute such further instruments and to take such further action as may reasonably be necessary to carry out
the intent of this Agreement.

 

6.2. Notices. All notices,
statements or other documents which are required or contemplated by this Agreement shall be: (i) in writing and delivered personally
or sent by first class registered or certified mail, overnight courier service or facsimile or electronic transmission to the address
designated in writing, (ii) by facsimile to the number most recently provided to such party or such other address or fax number
as may be designated in writing by such party and (iii) by electronic mail, to the electronic mail address most recently provided
to such party or such other electronic mail address as may be designated in writing by such party. Any notice or other communication
so transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the business day following
receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business day after delivery to an overnight
courier service or five (5) days after mailing if sent by mail.

 

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6.3. Entire Agreement.
This Agreement, together with the Insider Letter and the Registration Rights Agreement, each substantially in the form to be filed
as an exhibit to the Registration Statement on Form S-1 associated with the Company’s IPO, embodies the entire agreement
and understanding between the Subscriber and the Company with respect to the subject matter hereof and supersedes all prior oral
or written agreements and understandings relating to the subject matter hereof. No statement, representation, warranty, covenant
or agreement of any kind not expressly set forth in this Agreement shall affect, or be used to interpret, change or restrict, the
express terms and provisions of this Agreement. 

 

6.4. Modifications and Amendments.
The terms and provisions of this Agreement may be modified or amended only by written agreement executed by all parties hereto.

 

6.5. Waivers and Consents.
The terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted, only by a written document
executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall be deemed to be or
shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether or not similar. Each
such waiver or consent shall be effective only in the specific instance and for the purpose for which it was given, and shall not
constitute a continuing waiver or consent.

 

6.6. Assignment. The
rights and obligations under this Agreement may not be assigned by either party hereto without the prior written consent of the
other party.

 

6.7. Benefit. All statements,
representations, warranties, covenants and agreements in this Agreement shall be binding on the parties hereto and shall inure
to the benefit of the respective successors and permitted assigns of each party hereto. Nothing in this Agreement shall be construed
to create any rights or obligations except among the parties hereto, and no person or entity shall be regarded as a third-party
beneficiary of this Agreement.

 

6.8. Governing Law. This
Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with and governed by the laws
of New York applicable to contracts wholly performed within the borders of such state, without giving effect to the conflict of
law principles thereof.

 

6.9. Severability. In
the event that any court of competent jurisdiction shall determine that any provision, or any portion thereof, contained in this
Agreement shall be unreasonable or unenforceable in any respect, then such provision shall be deemed limited to the extent that
such court deems it reasonable and enforceable, and as so limited shall remain in full force and effect. In the event that such
court shall deem any such provision, or portion thereof, wholly unenforceable, the remaining provisions of this Agreement shall
nevertheless remain in full force and effect.

 

6.10. No Waiver of Rights,
Powers and Remedies. No failure or delay by a party hereto in exercising any right, power or remedy under this Agreement, and
no course of dealing between the parties hereto, shall operate as a waiver of any such right, power or remedy of such party. No
single or partial exercise of any right, power or remedy under this Agreement by a party hereto, nor any abandonment or discontinuance
of steps to enforce any such right, power or remedy, shall preclude such party from any other or further exercise thereof or the
exercise of any other right, power or remedy hereunder. The election of any remedy by a party hereto shall not constitute a waiver
of the right of such party to pursue other available remedies. No notice to or demand on a party not expressly required under this
Agreement shall entitle the party receiving such notice or demand to any other or further notice or demand in similar or other
circumstances or constitute a waiver of the rights of the party giving such notice or demand to any other or further action in
any circumstances without such notice or demand.

 

6.11. Survival of Representations
and Warranties. All representations and warranties made by the parties hereto in this Agreement or in any other agreement,
certificate or instrument provided for or contemplated hereby, shall survive the execution and delivery hereof and any investigations
made by or on behalf of the parties.

 

6.12. No Broker or Finder.
Each of the parties hereto represents and warrants to the other that no broker, finder or other financial consultant has acted
on its behalf in connection with this Agreement or the transactions contemplated hereby in such a way as to create any liability
on the other. Each of the parties hereto agrees to indemnify and save the other harmless from any claim or demand for commission
or other compensation by any broker, finder, financial consultant or similar agent claiming to have been employed by or on behalf
of such party and to bear the cost of legal expenses incurred in defending against any such claim.

 

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6.13. Headings and Captions.
The headings and captions of the various subdivisions of this Agreement are for convenience of reference only and shall in no way
modify or affect the meaning or construction of any of the terms or provisions hereof.

 

6.14. Counterparts. This
Agreement may be executed in one or more counterparts, all of which when taken together shall be considered one and the same agreement
and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood
that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission or
any other form of electronic delivery, such signature shall create a valid and binding obligation of the party executing (or on
whose behalf such signature is executed) with the same force and effect as if such signature page were an original thereof.

 

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

 

6.16. Mutual Drafting.
This Agreement is the joint product of the Subscriber and the Company and each provision hereof has been subject to the mutual
consultation, negotiation and agreement of such parties and shall not be construed for or against any party hereto.

 

7. Voting and Tender of Shares. Subscriber agrees
to vote the Shares in favor of an initial business combination that the Company negotiates and submits for approval to the Company’s
stockholders and shall not seek redemption with respect to such Shares. Additionally, the Subscriber agrees not to tender any Shares
in connection with a tender offer presented to the Company’s stockholders in connection with an initial business combination
negotiated by the Company.

 

8. Indemnification. Each party shall indemnify the
other against any loss, cost or damages (including reasonable attorney’s fees and expenses) incurred as a result of such
party’s breach of any representation, warranty, covenant or agreement in this Agreement.

 

[Signature Page Follows]

 

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If the foregoing accurately sets forth our
understanding and agreement, please sign the enclosed copy of this Agreement and return it to us.

 

	 	Very truly yours,
	 	 
	 	AC I CORP.
	 	 	 
	 	By:	 
	 	 	Name:  	Kenneth Moelis
	 	 	Title: 	Chief Executive Officer

 

	Accepted and agreed as of the date first written above.
	 
	CAA 1 LLC 
	 	 
	By:	 	 
	 	
        Name:
	 

        
	 
	 	Title:	Managing Member	 

 

[Signature Page to Securities Subscription
Agreement]

 

 

7Exhibit 10.1

 

Execution
Version

 

SUBSCRIPTION
AGREEMENT

 

This
SUBSCRIPTION AGREEMENT (this “Subscription Agreement”) is entered into this 30th day of December, 2020, by
and among Innoviz Technologies Ltd., a company organized under the laws of the State of Israel (the “Issuer”),
and the undersigned (“Subscriber” or “you”). Defined terms used but not otherwise defined
herein shall have the respective meanings ascribed thereto in the Business Combination Agreement (as defined below).

 

WHEREAS,
the Issuer, Hatzata Merger Sub, Inc., a wholly owned subsidiary of the Issuer (the “Merger Sub”) and Collective
Growth Corporation, a Delaware corporation (the “Company”), entered into that certain Business Combination
Agreement, dated as of December 10, 2020 (as amended, modified, supplemented or waived from time to time in accordance with its
terms, the “Business Combination Agreement”), pursuant to which, inter alia, the Merger Sub will
be merged with and into the Company, with the Company surviving as a wholly owned subsidiary of the Issuer (the “Business
Combination”), on the terms and subject to the conditions set forth therein (the Business Combination, together with
the other transactions contemplated by the Business Combination Agreement, the “Transactions”); and

 

WHEREAS,
in connection with the Transactions, Subscriber desires to subscribe for and purchase from the Issuer that number of Issuer’s
ordinary shares of no par value (the “Ordinary Shares”) set forth on the signature page hereto (the “Shares”)
for a purchase price of $10.00 per share, for the aggregate purchase price set forth on Subscriber’s signature page hereto,
which purchase price assumes that the Issuer has effected a reverse stock split prior to the Effective Time in order to cause
the Company Share Value to equal $10.00 (the “Purchase Price”), and the Issuer desires to issue and sell to
Subscriber the Shares in consideration of the payment of the Purchase Price therefor by or on behalf of Subscriber to the Issuer,
all on the terms and conditions set forth herein; and

 

NOW,
THEREFORE, in consideration of the foregoing and the mutual representations, warranties and covenants, and subject to the conditions,
herein contained, and intending to be legally bound hereby, the parties hereto hereby agree as follows:

 

1. Subscription.
Subject to the terms and conditions hereof, at the Closing, Subscriber hereby agrees to subscribe for and purchase, and the Issuer
hereby agrees to issue and sell to Subscriber, upon the payment of the Purchase Price, the Shares (such subscription and issuance,
the “Subscription”).

 

2. Representations,
Warranties and Agreements.

 

2.1 Subscriber’s
Representations, Warranties and Agreements. To induce the Issuer to issue the Shares to Subscriber, Subscriber hereby represents
and warrants to the Issuer and acknowledges and agrees with the Issuer as follows:

 

2.1.1
If Subscriber is not an individual, Subscriber has been duly formed or incorporated and is validly existing in good standing under
the laws of its jurisdiction of incorporation or formation, with power and authority to enter into, deliver and perform its obligations
under this Subscription Agreement. If Subscriber is an individual, Subscriber has the authority to enter into, deliver and perform
its obligations under this Subscription Agreement.

 

2.1.2
If Subscriber is not an individual, this Subscription Agreement has been duly authorized, validly executed and delivered by Subscriber.
If Subscriber is an individual, the signature on this Subscription Agreement is genuine, and Subscriber has legal competence and
capacity to execute the same. This Subscription Agreement is enforceable against Subscriber in accordance with its terms, except
as may be limited or otherwise affected by (i) bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other
laws relating to or affecting the rights of creditors generally, and (ii) principles of equity, whether considered at law or equity.

 

     

     

    

 

2.1.3
The execution, delivery and performance by Subscriber of this Subscription Agreement and the consummation of the transactions
contemplated herein do not and will not (i) conflict with or result in a breach or violation of any of the terms or provisions
of, or constitute a default under, or result in the creation or imposition of any lien, charge or encumbrance upon any of the
property or assets of Subscriber or any of its subsidiaries pursuant to the terms of any indenture, mortgage, deed of trust, loan
agreement, lease, license or other agreement or instrument to which Subscriber or any of its subsidiaries is a party or by which
Subscriber or any of its subsidiaries is bound or to which any of the property or assets of Subscriber or any of its subsidiaries
is subject, which would reasonably be expected to prevent or delay Subscriber’s timely performance of its obligations under
this Subscription Agreement (a “Subscriber Material Adverse Effect”), (ii) if Subscriber is not an individual,
result in any violation of the provisions of the organizational documents of Subscriber or any of its subsidiaries or (iii) result
in any violation of any statute or any judgment, order, rule or regulation of any court or governmental agency or body, domestic
or foreign, having jurisdiction over Subscriber or any of its subsidiaries or any of their respective properties that would reasonably
be expected to have a Subscriber Material Adverse Effect.

 

2.1.4
Subscriber (i) is a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act of 1933 (as
amended, the “Securities Act”)) or an “accredited investor” (within the meaning of Rule 501(a)
under the Securities Act) satisfying the applicable requirements set forth on Schedule I, (ii) is acquiring the Shares
only for its own account and not for the account of others, or if Subscriber is subscribing for the Shares as a fiduciary or agent
for one or more investor accounts, each owner of such account is an accredited investor and Subscriber has full investment discretion
with respect to each such account, and the full power and authority to make the acknowledgements, representations, warranties
and agreements herein on behalf of each owner of each such account and (iii) is not acquiring the Shares with a view to, or for
offer or sale in connection with, any distribution thereof in violation of the Securities Act (and shall provide the requested
information on Schedule I following the signature page hereto). Subscriber is not an entity formed for the specific
purpose of acquiring the Shares.

 

2.1.5
Subscriber understands that the Shares are being offered in a transaction not involving any public offering within the meaning
of the Securities Act and that the Shares have not been registered under the Securities Act. Subscriber understands that the Shares
may not be resold, transferred, pledged or otherwise disposed of by Subscriber absent an effective registration statement under
the Securities Act, except (i) to the Issuer or a subsidiary thereof, (ii) to non-U.S. persons pursuant to offers and sales that
occur solely outside the United States within the meaning of Regulation S under the Securities Act or (iii) pursuant to another
applicable exemption from the registration requirements of the Securities Act, and in each of cases (i) and (iii), in accordance
with any applicable securities laws of the states and other jurisdictions of the United States, and that any certificates or book
entries representing the Shares shall contain a legend to such effect. Subscriber acknowledges that the Shares will not be eligible
for resale pursuant to Rule 144A promulgated under the Securities Act. Subscriber understands and agrees that the Shares will
be subject to transfer restrictions and, as a result of these transfer restrictions, Subscriber may not be able to readily resell
the Shares and may be required to bear the financial risk of an investment in the Shares for an indefinite period of time. Subscriber
understands that it has been advised to consult legal counsel prior to making any offer, resale, pledge or transfer of any of
the Shares.

 

2.1.6
Subscriber understands and agrees that Subscriber is purchasing the Shares directly from the Issuer. Subscriber further acknowledges
that there have been no representations, warranties, covenants or agreements made to Subscriber by the Issuer, the Company or
any of their respective affiliates, officers or directors, expressly or by implication, other than those representations, warranties,
covenants and agreements expressly set forth in this Subscription Agreement, and Subscriber is not relying on any representations,
warranties or covenants other than those expressly set forth in this Subscription Agreement.

 

2.1.7
Subscriber represents and warrants that its acquisition and holding of the Shares will not constitute or result in a non-exempt
prohibited transaction under Section 406 of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”),
Section 4975 of the Internal Revenue Code of 1986, as amended, or any applicable similar law.

 

    2

     

    

 

2.1.8
In making its decision to purchase the Shares, Subscriber represents that it has relied solely upon independent investigation
made by Subscriber. Without limiting the generality of the foregoing, Subscriber has not relied on any statements or other information
provided by anyone other than the Issuer concerning the Issuer or the Shares or the offer and sale of the Shares. Subscriber acknowledges
and agrees that Subscriber has received and has had an adequate opportunity to review, such financial and other information as
Subscriber deems necessary in order to make an investment decision with respect to the Shares, including with respect to the Issuer,
the Company and the Transactions and made its own assessment and is satisfied concerning the relevant tax and other economic considerations
relevant to the Subscriber’s investment in the Shares. Subscriber acknowledges that it has reviewed the documents made available
to the Subscriber by the Company. Subscriber represents and agrees that Subscriber and Subscriber’s professional advisor(s),
if any, have had the full opportunity to ask such questions, receive such answers and obtain such information as Subscriber and
such Subscriber’s professional advisor(s), if any, have deemed necessary to make an investment decision with respect to
the Shares. Subscriber acknowledges that Goldman Sachs & Co. LLC (the “Placement Agent”) and its respective
directors, officers, employees, representatives and controlling persons have made no independent investigation with respect to
the Issuer, the Company or the Shares or the accuracy, completeness or adequacy of any information supplied to the Subscriber
by the Issuer or the Company. Subscriber acknowledges that (i) it has not relied on any statements or other information provided
by the Placement Agent or any of the Placement Agent’s affiliates with respect to its decision to invest in the Shares,
including information related to the Issuer, the Company, the Shares and the offer and sale of the Shares, and (ii) neither the
Placement Agent nor any of its affiliates have prepared any disclosure or offering document in connection with the offer and sale
of the Shares. Subscriber further acknowledges that the information provided to Subscriber is preliminary and subject to change,
and that any changes to such information, including, without limitation, any changes based on updated information or changes in
terms of the Transaction, shall in no way affect the Subscriber’s obligation to purchase the Shares hereunder.

 

2.1.9
Subscriber became aware of this offering of the Shares solely by means of direct contact from either the Placement Agent or the
Issuer as a result of a pre-existing substantive relationship (as interpreted in guidance from the Securities and Exchange Commission
(the “Commission”) under the Securities Act) with the Issuer or its representatives, and the Shares were offered
to Subscriber solely by direct contact between Subscriber and the Placement Agent or the Issuer. Subscriber did not become aware
of this offering of the Shares, nor were the Shares offered to Subscriber, by any other means. Subscriber acknowledges that the
Placement Agent has not acted as its financial advisor or fiduciary. Subscriber acknowledges that the Shares (i) were not offered
by any form of general solicitation or general advertising, including methods described in section 502(c) of Regulation D under
the Securities Act and (ii) are not being offered in a manner involving a public offering under, or in a distribution in violation
of, the Securities Act, or any state securities laws.

 

2.1.10
Subscriber acknowledges that it is aware that there are substantial risks incident to the purchase and ownership of the Shares.
Subscriber has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks
of an investment in the Shares, and Subscriber has sought such accounting, legal and tax advice as Subscriber has considered necessary
to make an informed investment decision. Subscriber understands and acknowledges that the purchase and sale of the Shares hereunder
meets (i) the exemptions from filing under FINRA Rule 5123(b)(1)(A) and (ii) the institutional customer exemption under FINRA
Rule 2111(b).

 

2.1.11
Alone, or together with any professional advisor(s), Subscriber represents and acknowledges that Subscriber has adequately analyzed
and fully considered the risks of an investment in the Shares and determined that the Shares are a suitable investment for Subscriber
and that Subscriber is able at this time and in the foreseeable future to bear the economic risk of a total loss of Subscriber’s
investment in the Issuer. Subscriber acknowledges specifically that a possibility of total loss exists.

 

2.1.12
Subscriber understands and agrees that no federal or state agency has passed upon or endorsed the merits of the offering of the
Shares or made any findings or determination as to the fairness of an investment in the Shares.

 

    3

     

    

 

2.1.13
Subscriber represents and warrants that Subscriber is not (i) a person or entity named on the List of Specially Designated Nationals
and Blocked Persons administered by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”)
or in any Executive Order issued by the President of the United States and administered by OFAC (“OFAC List”),
or a person or entity prohibited by any OFAC sanctions program, (ii) a Designated National as defined in the Cuban Assets Control
Regulations, 31 C.F.R. Part 515 or (iii) a non-U.S. shell bank or providing banking services indirectly to a non-U.S. shell bank.
Subscriber agrees to provide law enforcement agencies, if requested thereby, such records as required by applicable law, provided
that Subscriber is permitted to do so under applicable law. Subscriber represents that if it is a financial institution subject
to the Bank Secrecy Act (31 U.S.C. Section 5311 et seq.) (the “BSA”), as amended by the USA PATRIOT Act of
2001 (the “PATRIOT Act”), and its implementing regulations (collectively, the “BSA/PATRIOT Act”),
that Subscriber maintains policies and procedures reasonably designed to comply with applicable obligations under the BSA/PATRIOT
Act. Subscriber also represents that, to the extent required, it maintains policies and procedures reasonably designed for the
screening of its investors against the OFAC sanctions programs, including the OFAC List. Subscriber further represents and warrants
that, to the extent required, it maintains policies and procedures reasonably designed to ensure that the funds held by Subscriber
and used to purchase the Shares were legally derived.

 

2.1.14
If Subscriber is an employee benefit plan that is subject to Title I of ERISA, a plan, an individual retirement account or other
arrangement that is subject to section 4975 of the Code or an employee benefit plan that is a governmental plan (as defined in
section 3(32) of ERISA), a church plan (as defined in section 3(33) of ERISA), a non-U.S. plan (as described in section 4(b)(4)
of ERISA) or other plan that is not subject to the foregoing but may be subject to provisions under any other federal, state,
local, non-U.S. or other laws or regulations that are similar to such provisions of ERISA or the Code (collectively, “Similar
Laws”), or an entity whose underlying assets are considered to include “plan assets” of any such plan, account
or arrangement (each, a “Plan”) subject to the fiduciary or prohibited transaction provisions of ERISA or section
4975 of the Code, Subscriber represents and warrants that neither Issuer, nor any of its respective affiliates (the “Transaction
Parties”) has acted as the Plan’s fiduciary, or has been relied on for advice, with respect to its decision to
acquire and hold the Shares, and none of the Transaction Parties shall at any time be relied upon as the Plan’s fiduciary
with respect to any decision to acquire, continue to hold or transfer the Shares.

 

2.1.15
Subscriber is not currently (and at all times through Closing will refrain from being or becoming) a member of a “group”
(within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), or any successor provision), including any group acting for the purpose of acquiring, holding or disposing of
equity securities of the Issuer (within the meaning of Rule 13d-5(b)(1) under the Exchange Act).

 

2.1.16
No foreign person (as defined in 31 C.F.R. Part 800.224) in which the national or subnational governments of a single foreign
state have a substantial interest (as defined in 31 C.F.R. Part 800.244) will acquire a substantial interest in the Issuer as
a result of the purchase and sale of Shares hereunder such that a declaration to the Committee on Foreign Investment in the United
States would be mandatory under 31 C.F.R. Part 800.401, and no foreign person will have control (as defined in 31 C.F.R. Part
800.208) over the Issuer from and after the Closing as a result of the purchase and sale of Shares hereunder.

 

2.1.17
Subscriber has, and on each date the Purchase Price would be required to be funded to the Issuer pursuant to Section 3.1 will
have, sufficient immediately available funds to pay the Purchase Price pursuant to Section 3.1.

 

2.1.18
Subscriber represents that no disqualifying event described in Rule 506(d)(1)(i)-(viii) under the Securities Act (a “Disqualification
Event”) is applicable to Subscriber or any of its Rule 506(d) Related Parties (as defined below), except, if applicable,
for a Disqualification Event as to which Rule 506(d)(2)(ii) or (iii) or (d)(3) is applicable. Subscriber hereby agrees that it
shall notify the Company promptly in writing in the event a Disqualification Event becomes applicable to Subscriber or any of
its Rule 506(d) Related Parties, except, if applicable, for a Disqualification Event as to which Rule 506(d)(2)(ii) or (iii) or
(d)(3) is applicable. For purposes of this Section 2.1.18, “Rule 506(d) Related Party” shall mean
a person or entity that is a beneficial owner of Subscriber’s securities for purposes of Rule 506(d) under the Securities
Act.

 

2.1.19
Subscriber acknowledges that it is not relying upon, and has not relied upon, any statement, representation or warranty made by
any person, firm or corporation (including, without limitation, the Company, any of its affiliates or any of its or their respective
control persons, officers, directors or employees), other than the representations and warranties of the Issuer expressly set
forth in this Subscription Agreement, in making its investment or decision to invest in the Issuer. Subscriber agrees that neither
(i) any other Subscriber pursuant to this Subscription Agreement or any other agreement related to the private placement
of shares of the Issuer’s share capital (including the controlling persons, officers, directors, partners, agents or employees
of any such Subscriber) nor (ii) the Company, its affiliates or any of their or their respective affiliates’ control
persons, officers, directors, partners, agents or employees, shall be liable to any other Subscriber pursuant to this Subscription
Agreement or any other agreement related to the private placement of shares of the Issuer’s share capital for any action
heretofore or hereafter taken or omitted to be taken by any of them in connection with the purchase of the Shares hereunder.

 

    4

     

    

 

2.2 Issuer’s
Representations, Warranties and Agreements. To induce Subscriber to purchase the Shares, the Issuer hereby represents and
warrants to Subscriber and agrees with Subscriber as follows:

 

2.2.1
The Issuer is a corporation duly organized, validly existing and in good standing under the laws of the State of Israel, with
corporate power and authority to own, lease and operate its properties and conduct its business as presently conducted and to
enter into, deliver and perform its obligations under this Subscription Agreement.

 

2.2.2
The Shares have been duly authorized and, when issued and delivered to Subscriber against full payment for the Shares in accordance
with the terms of this Subscription Agreement and registered with the Issuer’s transfer agent, the Shares will be validly
issued, fully paid and non-assessable and will not have been issued in violation of or subject to any preemptive or similar rights
created under the Issuer’s amended and restated articles of association or under the Laws of the State of Israel.

 

2.2.3
This Subscription Agreement has been duly authorized, executed and delivered by the Issuer and is enforceable against it in accordance
with its terms, except as may be limited or otherwise affected by applicable bankruptcy, insolvency, fraudulent conveyance, reorganization,
moratorium or other laws affecting generally the enforcement of creditors’ rights and subject to general principles of equity.

 

2.2.4
The execution, delivery and performance of this Subscription Agreement (including compliance by the Issuer with all of the provisions
hereof), issuance and sale of the Shares and the consummation of the certain other transactions contemplated herein will not (i)
conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, or result
in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of the Issuer pursuant to
the terms of any indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement or instrument to which
the Issuer is a party or by which the Issuer is bound or to which any of the property or assets of the Issuer is subject, which
would reasonably be expected to have a material adverse effect on the legal authority of the Issuer to enter into and perform
its obligations under this Subscription Agreement (a “Issuer Material Adverse Effect”), (ii) result in any
violation of the provisions of the organizational documents of the Issuer or (iii) result in any violation of any statute or any
judgment, order, rule or regulation of any court or governmental agency or body, domestic or foreign, having jurisdiction over
the Issuer or any of its properties that would reasonably be expected to have an Issuer Material Adverse Effect.

 

2.2.5
As of the date of this Subscription Agreement, the authorized capital shares of the Issuer consists of (i) 204,870,390 ordinary
shares of no par value (“Existing Ordinary Shares”) and (iii) 95,129,610 preferred shares of no par value (“Preferred
Shares”). As of the date hereof: (i) 19,280,691 Existing Ordinary Shares are issued and outstanding and (ii) 80,038,346
Preferred Shares are issued and outstanding (consisting of (a) 23,255,810 series A convertible preferred shares of the Issuer,
no par value, (b) 18,116,580 series B convertible preferred shares of the Issuer, no par value, (c) 3,454,440 series B-1 convertible
preferred shares of the Issuer, no par value, (d) 32,137,295 series C convertible preferred shares of the Issuer, no par value
and (e) 3,074,221 series C-1 convertible preferred shares of the Issuer, no par value).

 

2.2.6
Assuming the accuracy of Subscriber’s representations and warranties set forth in Section 2.1 of this Subscription
Agreement, no registration under the Securities Act is required for the offer and sale of the Shares by the Issuer to Subscriber.

 

2.2.7
The Issuer has provided Subscriber an opportunity to ask questions regarding the Issuer and made available to Subscriber all the
information reasonably available to the Issuer that Subscriber has reasonably requested to make an investment decision with respect
to the Shares.

 

2.2.8
Neither the Issuer, nor any person acting on its behalf has, directly or indirectly, made any offers or sales of any Issuer security
or solicited any offers to buy any security under circumstances that would adversely affect reliance by the Issuer on Section
4(a)(2) of the Securities Act for the exemption from registration for the transactions contemplated hereby or would require registration
of the issuance of the Shares under the Securities Act.

 

    5

     

    

 

2.2.9
No Disqualification Event is applicable to the Issuer or, to the Issuer’s knowledge, any Issuer Covered Person (as defined below),
except for a Disqualification Event as to which Rule 506(d)(2)(ii)-(iv) or (d)(3) under the Securities Act is applicable. The
Issuer has complied, to the extent applicable, with any disclosure obligations under Rule 506(e) under the Securities Act. “Issuer
Covered Person” means, with respect to the Issuer as an “issuer” for purposes of Rule 506 under the Securities
Act, any person listed in the first paragraph of Rule 506(d)(1) under the Securities Act.

 

3. Settlement
Date and Delivery.

 

3.1 Closing.
The closing of the Subscription contemplated hereby (the “Closing”) shall occur on the date of (the “Closing
Date”), and immediately following, the consummation of the Transactions. Upon written notice from (or on behalf of)
the Issuer to Subscriber (the “Closing Notice”) at least five (5) Business Days prior to the date that the
Issuer reasonably expects all conditions to the closing of the Transactions to be satisfied, Subscriber shall deliver to the Issuer
within two (2) Business Days after receiving the Closing Notice, the Purchase Price for the Shares, by wire transfer of United
States dollars in immediately available funds to the account specified by the Issuer in the Closing Notice, such funds to be held
by the Issuer in escrow until the Closing. Unless otherwise agreed by the Company in writing, the Issuer shall deliver the Closing
Notice at least four (4) Business Days prior to the date of the Special Meeting. At the Closing, upon satisfaction (or, if applicable,
waiver) of the conditions set forth in this Section 3, the Issuer shall deliver to Subscriber the Shares in book entry
form, in the name of Subscriber (or its nominee in accordance with its delivery instructions) or to a custodian designated by
Subscriber, as applicable.

 

3.2 Conditions
to Closing of the Issuer. The Issuer’s obligations to sell and issue the Shares at the Closing are subject to the fulfillment
or (to the extent permitted by applicable law) written waiver, on or prior to the Closing Date, of each of the following conditions:

 

3.2.1 Representations
and Warranties Correct. The representations and warranties made by Subscriber in Section 2.1 hereof shall
be true and correct in all material respects when made (other than representations and warranties that are qualified as to materiality
or Subscriber Material Adverse Effect, which representations and warranties shall be true and correct in all respects) and shall
be true and correct in all material respects on and as of the Closing Date (unless they specifically speak as of another date
in which case they shall be true and correct in all material respects as of such date) (other than representations and warranties
that are qualified as to materiality or Subscriber Material Adverse Effect, which representations and warranties shall be true
and correct in all respects), with the same force and effect as if they had been made on and as of said date, but in each case
without giving effect to consummation of the Transactions.

 

3.2.2 Closing
of the Transactions. The Transactions set forth in the Business Combination Agreement shall have been or will be consummated
substantially concurrently with the Closing.

 

3.2.3 Legality.
There shall not be in force any order, judgment, injunction, decree, writ, stipulation, determination or award, in each case,
entered by or with any governmental authority, statute, rule or regulation enjoining or prohibiting the consummation of the Subscription.

 

3.3 Conditions
to Closing of Subscriber. Subscriber’s obligation to purchase the Shares at the Closing is subject to the fulfillment
or (to the extent permitted by applicable law) written waiver, on or prior to the Closing Date, of each of the following conditions:

 

3.3.1 Representations
and Warranties Correct. The representations and warranties made by the Issuer in Section 2.2 hereof shall
be true and correct in all material respects (other than representations and warranties that are qualified as to materiality or
Issuer Material Adverse Effect, which representations and warranties shall be true and correct in all respects) on and as of the
Closing Date (unless they specifically speak as of another date in which case they shall be true and correct in all material respects
as of such date) with the same force and effect as if they had been made on and as of said date, but in each case without giving
effect to consummation of the Transactions; provided, that in the event this condition would otherwise fail to be
satisfied as a result of a breach of one or more of the representations and warranties of the Issuer contained in this Subscription
Agreement and the facts underlying such breach would also cause a condition to the Issuer’s obligations under the Business
Combination Agreement to fail to be satisfied, this condition shall nevertheless be deemed satisfied in the event the Company
waives such condition with respect to such breach under the Business Combination Agreement.

 

    6

     

    

 

3.3.2 Closing
of the Transactions. The Transactions set forth in the Business Combination Agreement shall have been or will be consummated
substantially concurrently with the Closing.

 

3.3.3 Legality.
There shall not be in force any order, judgment, injunction, decree, writ, stipulation, determination or award, in each case,
entered by or with any governmental authority, statute, rule or regulation enjoining or prohibiting the consummation of the Subscription.

 

4. Registration
Statement.

 

4.1
The Issuer agrees that, within forty-five (45) calendar days after the consummation of the Transactions (the “Filing
Date”), the Issuer will file with the Commission (at the Issuer’s sole cost and expense) a registration statement
registering the resale of the Shares (the “Registration Statement”), and the Issuer shall use its commercially
reasonable efforts to have the Registration Statement declared effective as soon as practicable after the filing thereof, but
no later than the earlier of (i) the 90th calendar day (or 135th calendar day if the Commission notifies the Issuer that it will
“review” the Registration Statement) following the Closing and (ii) the 10th Business Day after the date the Issuer
is notified (orally or in writing, whichever is earlier) by the Commission that the Registration Statement will not be “reviewed”
or will not be subject to further review (such earlier date, the “Effectiveness Date”); provided, however,
that the Issuer’s obligations to include the Shares in the Registration Statement are contingent upon Subscriber furnishing
in writing to the Issuer such information regarding Subscriber, the securities of the Issuer held by Subscriber and the intended
method of disposition of the Shares as shall be reasonably requested by the Issuer to effect the registration of the Shares, and
Subscriber shall execute such documents in connection with such registration as the Issuer may reasonably request that are customary
of a selling shareholder in similar situations, including providing that the Issuer shall be entitled to postpone and suspend
the effectiveness or use of the Registration Statement during any customary blackout or similar period or as permitted hereunder.
For purposes of clarification, any failure by the Issuer to file the Registration Statement by the Filing Date or to effect such
Registration Statement by the Effectiveness Date shall not otherwise relieve the Issuer of its obligations to file or effect the
Registration Statement as set forth above in this Section 4.

 

4.2
In the case of the registration effected by the Issuer pursuant to this Subscription Agreement, the Issuer shall, upon reasonable
request, inform Subscriber as to the status of such registration. At its expense the Issuer shall:

 

4.2.1
except for such times as the Issuer is permitted hereunder to suspend the use of the prospectus forming part of a Registration
Statement, use its commercially reasonable efforts to keep such registration, and any qualification, exemption or compliance under
state securities laws which the Issuer determines to obtain, continuously effective with respect to Subscriber, and to keep the
applicable Registration Statement or any subsequent shelf registration statement free of any material misstatements or omissions,
until the earlier of the following: (i) Subscriber ceases to hold any Shares, (ii) the date all Shares held by Subscriber may
be sold without restriction under Rule 144, including without limitation, any volume and manner of sale restrictions which may
be applicable to affiliates under Rule 144 and without the requirement for the Issuer to be in compliance with the current public
information required under Rule 144(c)(1) (or Rule 144(i)(2), if applicable), and (iii) two years from the Effectiveness Date
of the Registration Statement;

 

4.2.2
advise Subscriber within five (5) Business Days:

 

(a)
when a Registration Statement or any post-effective amendment thereto has become effective;

 

(b)
of the issuance by the Commission of any stop order suspending the effectiveness of any Registration Statement or the initiation
of any proceedings for such purpose;

 

    7

     

    

 

(c)
of the receipt by the Issuer of any notification with respect to the suspension of the qualification of the Shares included therein
for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and

 

(d)
subject to the provisions in this Subscription Agreement, of the occurrence of any event that requires the making of any changes
in any Registration Statement or prospectus so that, as of such date, the statements therein are not misleading and do not omit
to state a material fact required to be stated therein or necessary to make the statements therein (in the case of a prospectus,
in the light of the circumstances under which they were made) not misleading.

 

Notwithstanding
anything to the contrary set forth herein, the Issuer shall not, when so advising Subscriber of such events, provide Subscriber
with any material, nonpublic information regarding the Issuer other than to the extent that providing notice to Subscriber of
the occurrence of the events listed in (a) through (d) above constitutes material, nonpublic information regarding the Issuer;

 

4.2.3
use its commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of any Registration
Statement as soon as reasonably practicable;

 

4.2.4
upon the occurrence of any event contemplated in Section 4.2.2(d), except for such times as the Issuer is permitted
hereunder to suspend, and has suspended, the use of a prospectus forming part of a Registration Statement, the Issuer shall use
its commercially reasonable efforts to as soon as reasonably practicable prepare a post-effective amendment to such Registration
Statement or a supplement to the related prospectus, or file any other required document so that, as thereafter delivered to purchasers
of the Shares included therein, such prospectus will not include any untrue statement of a material fact or omit to state any
material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading;

 

4.2.5
use its commercially reasonable efforts to cause all Shares to be listed on each securities exchange or market, if any, on which
the Issuer’s Ordinary Shares are then listed; and

 

4.3
Notwithstanding anything to the contrary in this Subscription Agreement, the Issuer shall be entitled to delay or postpone the
effectiveness of the Registration Statement, and from time to time to require Subscriber not to sell under the Registration Statement
or to suspend the effectiveness thereof, if the negotiation or consummation of a transaction by the Issuer or its subsidiaries
is pending or an event has occurred, which negotiation, consummation or event the Issuer’s board of directors reasonably
believes, upon the advice of in-house legal counsel, would require additional disclosure by the Issuer in the Registration Statement
of material information that the Issuer has a bona fide business purpose for keeping confidential and the non-disclosure of which
in the Registration Statement would be expected, in the reasonable determination of the Issuer’s board of directors, upon
the advice of in-house legal counsel, to cause the Registration Statement to fail to comply with applicable disclosure requirements
(each such circumstance, a “Suspension Event”); provided, however, that the Issuer
may not delay or suspend the Registration Statement on more than three occasions or for more than sixty (60) consecutive calendar
days, or more than one hundred and twenty (120) total calendar days, in each case during any twelve-month period. Upon receipt
of any written notice from the Issuer of the happening of any Suspension Event during the period that the Registration Statement
is effective or if as a result of a Suspension Event the Registration Statement or related prospectus contains any untrue statement
of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein,
in light of the circumstances under which they were made (in the case of the prospectus) not misleading, Subscriber agrees that
(i) it will immediately discontinue offers and sales of the Shares under the Registration Statement (excluding, for the avoidance
of doubt, sales conducted pursuant to Rule 144) until Subscriber receives copies of a supplemental or amended prospectus (which
the Issuer agrees to promptly prepare) that corrects the misstatement(s) or omission(s) referred to above and receives notice
that any post-effective amendment has become effective or unless otherwise notified by the Issuer that it may resume such offers
and sales, and (ii) it will maintain the confidentiality of any information included in such written notice delivered by the Issuer
unless otherwise required by law or subpoena. If so directed by the Issuer, Subscriber will deliver to the Issuer or, in Subscriber’s
sole discretion destroy, all copies of the prospectus covering the Shares in Subscriber’s possession; provided, however,
that this obligation to deliver or destroy all copies of the prospectus covering the Shares shall not apply (i) to the extent
Subscriber is required to retain a copy of such prospectus (a) in order to comply with applicable legal, regulatory, self-regulatory
or professional requirements or (b) in accordance with a bona fide pre-existing document retention policy or (ii) to copies stored
electronically on archival servers as a result of automatic data back-up.

 

    8

     

    

 

5. Termination.
This Subscription Agreement shall terminate and be void and of no further force and effect, and all rights and obligations of
the parties hereunder shall terminate without any further liability on the part of any party in respect thereof, upon the earlier
to occur of (i) such date and time as the Business Combination Agreement is validly terminated in accordance with its terms and
(ii) upon the mutual written agreement of each of the parties hereto to terminate this Subscription Agreement; provided,
that nothing herein will relieve any party from liability for any willful breach hereof prior to the time of termination, and
each party will be entitled to any remedies at law or in equity to recover losses, liabilities or damages arising from such breach.
The Issuer shall promptly notify Subscriber of the termination of the Business Combination Agreement promptly after the termination
of such agreement.

 

6. Miscellaneous.

 

6.1 Further
Assurances. At the Closing, the parties hereto shall execute and deliver such additional documents and take such additional
actions as the parties reasonably may deem to be practical and necessary in order to consummate the Subscription as contemplated
by this Subscription Agreement.

 

6.1.1
Subscriber acknowledges that the Issuer, the Company, the Placement Agent and others will rely on the acknowledgments, understandings,
agreements, representations and warranties contained in this Subscription Agreement. Prior to the Closing, Subscriber agrees to
promptly notify the Issuer and the Company if any of the acknowledgments, understandings, agreements, representations and warranties
set forth herein are no longer accurate in all material respects. Subscriber further acknowledges and agrees that the Placement
Agent is a third-party beneficiary of the representations and warranties of the Subscriber contained in Section 2.1.8 and Section
2.1.9 of this Subscription Agreement to the extent such representations and warranties relate to the Placement Agent.

 

6.1.2
Each of the Issuer, Subscriber and the Company is entitled to rely upon this Subscription Agreement and is irrevocably authorized
to produce this Subscription Agreement or a copy hereof to any interested party in any administrative or legal proceeding or official
inquiry with respect to the matters covered hereby.

 

6.1.3
The Issuer may request from Subscriber such additional information as the Issuer may deem necessary to evaluate the eligibility
of Subscriber to acquire the Shares, and Subscriber shall provide such information as may be reasonably requested.

 

6.1.4
Subscriber shall pay all of its own expenses in connection with this Subscription Agreement and the transactions contemplated
herein.

 

6.1.5
Each of Subscriber and the Issuer shall take, or cause to be taken, all actions and do, or cause to be done, all things necessary,
proper or advisable to consummate the transactions contemplated by this Subscription Agreement on the terms and conditions described
therein no later than immediately following the consummation of the Transactions.

 

6.2 Notices.
Any notice or communication required or permitted hereunder shall be in writing and either delivered personally, emailed or sent
by overnight mail via a reputable overnight carrier, or sent by certified or registered mail, postage prepaid, and shall be deemed
to be given and received (i) when so delivered personally, (ii) when sent, with no mail undeliverable or other rejection notice,
if sent by email, or (iii) three (3) Business Days after the date of mailing to the address below or to such other address or
addresses as such person may hereafter designate by notice given hereunder:

 

(i)
if to Subscriber, to such address or addresses set forth on the signature page hereto;

 

(ii)
if to the Issuer, to:

 

	 	Innoviz Technologies Ltd.
	 	2 Amal Street
	 	Afek Industrial Park
	 	Rosh Ha’Ayin, Israel
	 	Attention:	Eldar Cegla
	 	 	Dana Nutkevich
	 	Email:	eldarc@innoviz-tech.com
	 	 	danan@innoviz-tech.com                                               

  

    9

     

    

 

	 	with a copy (which shall not constitute notice) to:
	 	 	 
	 	Latham & Watkins LLP
	 	99 Bishopsgate
	 	London EC2M 3XF
	 	United Kingdom
	 	Attention:	Joshua Kiernan
	 	 	Ryan Maierson
	 	E-mail:	joshua.kiernan@lw.com
	 	 	ryan.maierson@lw.com
	 	 	 
	(iii) if to the Company, to:
	 	 	 
	 	Innoviz Technologies Ltd.
	 	2 Amal St.
	 	Rosh HaAin
	 	4809202
	 	ISRAEL
	 	Attention:	Eldar Cegla, Chief Financial Officer
	 	Email:	eldarc@innoviz-tech.com

  

	 	with copies to (which shall not constitute notice) to:
	 	 
	 	Graubard Miller
	 	405 Lexington Avenue, 11th Floor
	 	New York, New York 10174
	 	Attention:	Jeffrey M. Gallant
	 	E-mail:	JGallant@graubard.com
	 	 	 
	 	Cassels Brock & Blackwell LLP
	 	40 King St W, Suite 2100
	 	Toronto, ON M5H 3C2, Canada
	 	Attention:	Jonathan Sherman
	 	E-mail:	jsherman@cassels.com

 

6.3 Entire
Agreement. This Subscription Agreement constitutes the entire agreement, and supersedes all other prior agreements, understandings,
representations and warranties, both written and oral, among the parties, with respect to the subject matter hereof, including
any commitment letter entered into relating to the subject matter hereof.

 

6.4 Modifications
and Amendments. This Subscription Agreement may not be amended, modified, supplemented or waived (i) except by an instrument
in writing, signed by the party against whom enforcement of such amendment, modification, supplement or waiver is sought and (ii)
without the prior written consent of the Issuer and the Company.

 

6.5 Assignment.
Neither this Subscription Agreement nor any rights, interests or obligations that may accrue to the parties hereunder (including
Subscriber’s rights to purchase the Shares) may be transferred or assigned without the prior written consent of each of
the other parties hereto (other than the Shares acquired hereunder, if any, and then only in accordance with this Subscription
Agreement).

 

    10

     

    

 

6.6 Benefit.

 

6.6.1
Except as otherwise provided herein, this Subscription Agreement shall be binding upon, and inure to the benefit of the parties
hereto and their heirs, executors, administrators, successors, legal representatives, and permitted assigns, and the agreements,
representations, warranties, covenants and acknowledgments contained herein shall be deemed to be made by, and be binding upon,
such heirs, executors, administrators, successors, legal representatives and permitted assigns. This Subscription Agreement shall
not confer rights or remedies upon any person other than the parties hereto and their respective successors and assigns. Notwithstanding
the foregoing, the Company is an express third-party beneficiary of Section 6.4.

 

6.6.2
Each of the Issuer and Subscriber acknowledges and agrees that (a) this Subscription Agreement is being entered into in order
to induce the Company to execute and deliver the Business Combination Agreement and without the representations, warranties, covenants
and agreements of the Issuer and Subscriber hereunder, the Company would not enter into the Business Combination Agreement, (b)
each representation, warranty, covenant and agreement of the Issuer and Subscriber hereunder is being made also for the benefit
of the Company, and (c) the Company may directly enforce (including by an action for specific performance, injunctive relief or
other equitable relief, including to cause the Purchase Price to be paid and the Closing to occur) each of the covenants and agreements
of each of the Issuer and Subscriber under this Subscription Agreement.

 

6.7 Governing
Law. This Subscription Agreement, and any claim or cause of action hereunder based upon, arising out of or related to this
Subscription Agreement (whether based on law, in equity, in contract, in tort or any other theory) or the negotiation, execution,
performance or enforcement of this Subscription Agreement, shall be governed by and construed in accordance with the Laws of the
State of Delaware, without giving effect to the principles of conflicts of law thereof.

 

6.8 Consent
to Jurisdiction; Waiver of Jury Trial. Each of the parties irrevocably consents to the exclusive jurisdiction and venue of
the Court of Chancery of the State of Delaware, provided, that if subject matter jurisdiction over the matter that is the subject
of the legal proceeding is vested exclusively in the U.S. federal courts, such legal proceeding shall be heard in the U.S. District
Court for the District of Delaware (together with the Court of Chancery of the State of Delaware “Chosen Courts”),
in connection with any matter based upon or arising out of this Subscription Agreement. Each party hereby waives, and shall not
assert as a defense in any legal dispute, that (i) such person is not personally subject to the jurisdiction of the Chosen Courts
for any reason, (ii) such legal proceeding may not be brought or is not maintainable in the Chosen Courts, (iii) such person’s
property is exempt or immune from execution, (iv) such legal proceeding is brought in an inconvenient forum or (v) the venue of
such legal proceeding is improper. Each Party hereby consents to service of process in any such proceeding in any manner permitted
by Delaware law, further consents to service of process by nationally recognized overnight courier service guaranteeing overnight
delivery, or by registered or certified mail, return receipt requested, at its address specified pursuant to Section 6.2 and
waives and covenants not to assert or plead any objection which they might otherwise have to such manner of service of process.
Notwithstanding the foregoing in this Section 6.8, a party may commence any action, claim, cause of action or suit
in a court other than the Chosen Courts solely for the purpose of enforcing an order or judgment issued by the Chosen Courts.
TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW WHICH CANNOT BE WAIVED, EACH OF THE PARTIES WAIVES ANY RIGHT TO TRIAL BY JURY ON
ANY CLAIMS OR COUNTERCLAIMS ASSERTED IN ANY LEGAL DISPUTE RELATING TO THIS SUBSCRIPTION AGREEMENT WHETHER NOW EXISTING OR HEREAFTER
ARISING. IF THE SUBJECT MATTER OF ANY SUCH LEGAL DISPUTE IS ONE IN WHICH THE WAIVER OF JURY TRIAL IS PROHIBITED, NO PARTY SHALL
ASSERT IN SUCH LEGAL DISPUTE A NONCOMPULSORY COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS SUBSCRIPTION AGREEMENT. FURTHERMORE,
NO PARTY SHALL SEEK TO CONSOLIDATE ANY SUCH LEGAL DISPUTE WITH A SEPARATE ACTION OR OTHER LEGAL PROCEEDING IN WHICH A JURY TRIAL
CANNOT BE WAIVED.

 

6.9 Severability.
If any provision of this Subscription Agreement shall be invalid, illegal or unenforceable, the validity, legality or enforceability
of the remaining provisions of this Subscription Agreement shall not in any way be affected or impaired thereby and shall continue
in full force and effect.

 

    11

     

    

 

6.10 No
Waiver of Rights, Powers and Remedies. No failure or delay by a party hereto in exercising any right, power or remedy under
this Subscription Agreement, and no course of dealing between the parties hereto, shall operate as a waiver of any such right,
power or remedy of such party. No single or partial exercise of any right, power or remedy under this Subscription Agreement by
a party hereto, nor any abandonment or discontinuance of steps to enforce any such right, power or remedy, shall preclude such
party from any other or further exercise thereof or the exercise of any other right, power or remedy hereunder. The election of
any remedy by a party hereto shall not constitute a waiver of the right of such party to pursue other available remedies. No notice
to or demand on a party not expressly required under this Subscription Agreement shall entitle the party receiving such notice
or demand to any other or further notice or demand in similar or other circumstances or constitute a waiver of the rights of the
party giving such notice or demand to any other or further action in any circumstances without such notice or demand.

 

6.11 Remedies.

 

6.11.1
The parties agree that the Issuer and the Company would suffer irreparable damage if this Subscription Agreement was not performed
or the Closing is not consummated in accordance with its specific terms or was otherwise breached and that money damages or other
legal remedies would not be an adequate remedy for any such damage. It is accordingly agreed that the Issuer and the Company shall
be entitled to equitable relief, including in the form of an injunction or injunctions, to prevent breaches or threatened breaches
of this Subscription Agreement and to enforce specifically the terms and provisions of this Subscription Agreement in an appropriate
court of competent jurisdiction as set forth in Section 6.8, this being in addition to any other remedy to which any
party is entitled at law or in equity, including money damages.  The right to specific enforcement shall include the right
of the Issuer or the Company to cause Subscriber and the right of the Company to cause the Issuer to cause the transactions contemplated
hereby to be consummated on the terms and subject to the conditions and limitations set forth in this Subscription Agreement.
The parties hereto further agree (i) to waive any requirement for the security or posting of any bond in connection with any such
equitable remedy, (ii) not to assert that a remedy of specific enforcement pursuant to this Section 6.11 is unenforceable,
invalid, contrary to applicable law or inequitable for any reason and (iii) to waive any defenses in any action for specific performance,
including the defense that a remedy at law would be adequate.  In connection with any Action for which the Company is being
granted an award of money damages, each of the Issuer and Subscriber agrees that such damages, to the extent payable by such party,
shall include, without limitation, damages related to the consideration that is or was to be paid to the Company or its equityholders
under the Business Combination Agreement and/or Subscription Agreement and such damages are not limited to an award of out-of-pocket
fees and expenses related to the Business Combination Agreement and Subscription Agreement.

 

6.11.2
The parties acknowledge and agree that this Section 6.11 is an integral part of the transactions contemplated
hereby and without that right, the parties hereto would not have entered into this Subscription Agreement.

 

6.11.3
In any dispute arising out of or related to this Subscription Agreement, or any other agreement, document, instrument or certificate
contemplated hereby, or any transactions contemplated hereby or thereby, the applicable adjudicating body shall award to the prevailing
party, if any, the costs and attorneys’ fees reasonably incurred by the prevailing party in connection with the dispute
and the enforcement of its rights under this Subscription Agreement or any other agreement, document, instrument or certificate
contemplated hereby and, if the adjudicating body determines a party to be the prevailing party under circumstances where the
prevailing party won on some but not all of the claims and counterclaims, the adjudicating body may award the prevailing party
an appropriate percentage of the costs and attorneys’ fees reasonably incurred by the prevailing party in connection with
the adjudication and the enforcement of its rights under this Subscription Agreement or any other agreement, document, instrument
or certificate contemplated hereby or thereby.

 

6.12 Survival
of Representations and Warranties. All representations and warranties made by the Subscriber shall survive the Closing. For
the avoidance of doubt, if for any reason the Closing does not occur immediately following the consummation of the Transactions,
all representations, warranties, covenants and agreements of the parties hereunder shall survive the consummation of the Transactions
and remain in full force and effect.

 

    12

     

    

 

6.13 No
Broker or Finder. Other than the Placement Agent (which has been engaged by the Issuer in connection with this Subscription),
each of the Issuer and Subscriber each represents and warrants to the other parties hereto that no broker, finder or other financial
consultant has acted on its behalf in connection with this Subscription Agreement or the transactions contemplated hereby in such
a way as to create any liability on any other party hereto. Each of the Issuer and Subscriber agrees to indemnify and save the
other parties hereto harmless from any claim or demand for commission or other compensation by any broker, finder, financial consultant
or similar agent claiming to have been employed by or on behalf of such party and to bear the cost of legal expenses incurred
in defending against any such claim.

 

6.14 Headings
and Captions. The headings and captions of the various subdivisions of this Subscription Agreement are for convenience of
reference only and shall in no way modify or affect the meaning or construction of any of the terms or provisions hereof.

 

6.15 Counterparts.
This Subscription Agreement may be executed in one or more counterparts, all of which when taken together shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other
parties, it being understood that the parties need not sign the same counterpart. In the event that any signature is delivered
by facsimile transmission or any other form of electronic delivery, such signature shall create a valid and binding obligation
of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such signature page
were an original thereof.

 

6.16 Construction.
The words “include,” “includes,” and “including” will be deemed to be
followed by “without limitation.” Pronouns in masculine, feminine, and neuter genders will be construed to
include any other gender, and words in the singular form will be construed to include the plural and vice versa, unless the context
otherwise requires. The words “this Subscription Agreement,” “herein,” “hereof,”
“hereby,” “hereunder,” and words of similar import refer to this Subscription Agreement
as a whole and not to any particular subdivision unless expressly so limited. The parties hereto intend that each representation,
warranty, and covenant contained herein will have independent significance. If any party hereto has breached any representation,
warranty, or covenant contained herein in any respect, the fact that there exists another representation, warranty or covenant
relating to the same subject matter (regardless of the relative levels of specificity) which such party hereto has not breached
will not detract from or mitigate the fact that such party hereto is in breach of the first representation, warranty, or covenant.
All references in this Subscription Agreement to numbers of shares, per share amounts and purchase prices shall be appropriately
adjusted to reflect any stock split, stock dividend, stock combination, recapitalization or the like occurring after the date
hereof.

 

6.17 Mutual
Drafting. This Subscription Agreement is the joint product of the parties hereto and each provision hereof has been subject
to the mutual consultation, negotiation and agreement of the parties and shall not be construed for or against any party hereto.

 

7. Consent
to Disclosure. Subscriber hereby consents to the publication and disclosure in any press release issued by the Issuer or the
Company or Form 8-K filed by the Issuer or the Company with the SEC in connection with the execution and delivery of the Business
Combination Agreement and the Proxy Statement (and, as and to the extent otherwise required by the federal securities laws or
the SEC or any other securities authorities, any other documents or communications provided by the Issuer or the Company to any
Governmental Authority or to securityholders of the Issuer or the Company) of Subscriber’s identity and beneficial ownership
of Covered Shares and the nature of Subscriber’s commitments, arrangements and understandings under and relating to this
Subscription Agreement and, if deemed appropriate by the Issuer or the Company, a copy of this Subscription Agreement. Subscriber
will promptly provide any information reasonably requested by the Issuer or the Company for any regulatory application or filing
made or approval sought in connection with the Transactions (including filings with the SEC).

 

    13

     

    

 

8. Trust
Account Waiver. Notwithstanding anything to the contrary set forth herein, Subscriber acknowledges that it has read the Investment
Management Trust Agreement, dated as of April 30, 2020, by and between the Company and Continental Stock Transfer & Trust
Company, a New York corporation, and understands that the Company has established the trust account described therein (the “Trust
Account”) for the benefit of the Company’s public stockholders and that disbursements from the Trust Account are
available only in the limited circumstances set forth therein. Subscriber further acknowledges and agrees that the Company’s
sole assets consist of the cash proceeds of the Company’s initial public offering and private placements of its securities,
and that substantially all of these proceeds have been deposited in the Trust Account for the benefit of its public stockholders.
Accordingly, Subscriber (on behalf of itself and its affiliates) hereby waives any past, present or future claim of any kind against,
and any right to access, the Trust Account, any trustee of the Trust Account and the Company to collect from the Trust Account
any monies that may be owed to them by the Company or any of its affiliates for any reason whatsoever, and will not seek recourse
against the Trust Account at any time for any reason whatsoever, including, without limitation, for any knowing and intentional
material breach by any of the parties to this Subscription Agreement of any of its representations or warranties as set forth
in this Subscription Agreement, or such party’s material breach of any of its covenants or other agreements set forth in
this Subscription Agreement, which material breach constitutes, or is a consequence of, a purposeful act or failure to act by
such party with the knowledge that the taking of such act or failure to take such act would cause a material breach of this Subscription
Agreement. This Section 8 shall survive the termination of this Subscription Agreement for any reason.

 

[Signature
Page Follows]

 

    14

     

    

 

IN
WITNESS WHEREOF, each of the Issuer and Subscriber has executed or caused this Subscription Agreement to be executed by its
duly authorized representative as of the date first set forth above.

 

	 	ISSUER:
	 	 
	 	INNOVIZ TECHNOLOGIES LTD.
	 	 	 
	 	By:	 
	 	 	Name:  
	 	 	Title:

  

     

     

    

 

	Accepted and agreed this       day of December,
    2020.	 	 	 
	 	 	 	 
	SUBSCRIBER:	 	 	 
	 	 	 	 
	Signature of Subscriber:	 	Signature of Joint Subscriber, if applicable:
	 	                                          	 	 	                                          
	By:	 	 	By:	 
	Name: 	 	 	Name: 	 
	Title:	 	 	Title:	 
	 	 	 	 	 
	Date:  December        , 2020	 	 	 
	 	 	 
	Name of Subscriber:	 	Name of Joint Subscriber, if applicable:
	 	 	 
	 	 	 
	(Please print.  Please indicate name and capacity of person signing
    above)	 	(Please Print.  Please indicate name and capacity of person signing
    above)
	 	 	 
	 	 	 
	Name in which securities are to be registered (if different from the name of
    Subscriber listed directly above): __________________	 	 
	Email Address: _______________________	 	 
	If there are joint investors, please check one:	 	 
	☐  Joint
    Tenants with Rights of Survivorship	 	 
	☐  Tenants-in-Common	 	 
	☐  Community
    Property	 	 
	Subscriber’s EIN: __________________________	 	Joint Subscriber’s EIN:  ________________
	Business Address-Street:	 	Mailing Address-Street (if different):
	 	 	 
	 	 	 
	 	 	 
	 	 	 	 

 

	City, State, Zip:	                        	 	City, State, Zip:	                   
	Attn:	 	 	Attn:	 
	Telephone No.:	 	 	Telephone No.:	 
	Facsimile No.:	 	 	Facsimile No.:	 
	 	 	 	 	 
	Aggregate Number of Shares subscribed for:	 	 	 
	 	 	 	 
	__________________________	 	 	 

 

Aggregate Purchase Price: $______________

 

You must pay the
Purchase Price by wire transfer of U.S. dollars in immediately available funds, to be held in escrow until the Closing, to the
account specified by the Issuer in the Closing Notice. The aggregate Purchase Price assumes that the Issuer has effected a reverse
stock split prior to the Effective Time in order to cause the Company Share Value to equal $10.00.

 

     

     

    

 

SCHEDULE I

ELIGIBILITY REPRESENTATIONS OF SUBSCRIBER

 

	 	A.	QUALIFIED INSTITUTIONAL BUYER STATUS (Please check the applicable
    subparagraphs):

 

	 	1.	☐	We are a “qualified institutional buyer”
    (as defined in Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”)) (a
    “QIB”) and have marked and initialed the appropriate box on the following pages indicating the provision
    under which we qualify as a QIB.

 

	 	2.	☐	We are subscribing for the Shares as a fiduciary
    or agent for one or more investor accounts, and each owner of such account is a QIB.

 

*** OR ***

 

	 	B.	INSTITUTIONAL ACCREDITED INVESTOR STATUS (Please check the applicable subparagraphs):

 

	 	1.	☐	We are an “accredited investor” (within
    the meaning of Rule 501(a) under the Securities Act) and have marked and initialed the appropriate box on the following pages
    indicating the provision under which we qualify as an “accredited investor.”

 

	 	2.	☐	We are not a natural person.

 

*** AND ***

 

	 	C.	AFFILIATE STATUS (Please check the applicable box)

    

    SUBSCRIBER:

 

	 	☐	is:

 

	 	☐	is not:

 

an “affiliate”
(as defined in Rule 144 under the Securities Act) of the Issuer or acting on behalf of an affiliate of the Issuer.

 

This page
should be completed by Subscriber and constitutes a part of the Subscription Agreement.

 

The Subscriber
is a “qualified institutional buyer” (within the meaning of Rule 144A under the Securities Act) if it is an entity
that meets any one of the following categories at the time of the sale of securities to the Subscriber (Please check the applicable
subparagraphs):

 

☐
The Subscriber is an entity that, acting for its own account or the accounts of other qualified
institutional buyers, in the aggregate owns and invests on a discretionary basis at least $100 million in securities of issuers
that are not affiliated with the Subscriber and:

 

☐
is an insurance company as defined in section 2(a)(13) of the Securities Act;

 

     

     

    

 

☐
is an investment company registered under the Investment Company Act of 1940, as amended
(the “Investment Company Act”), or any business development company as defined in section 2(a)(48) of the Investment
Company Act;

 

☐
is a Small Business Investment Company licensed by the US Small Business Administration under
section 301(c) or (d) of the Small Business Investment Act of 1958, as amended (“Small Business Investment Act”);

 

☐
is a plan established and maintained by a state, its political subdivisions, or any agency
or instrumentality of a state or its political subdivisions, for the benefit of its employees;

 

☐
is an employee benefit plan within the meaning of Title I of the Employee Retirement Income
Security Act of 1974, as amended (“ERISA”);

 

☐
is a trust fund whose trustee is a bank or trust company and whose participants are exclusively
(a) plans established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its
political subdivisions, for the benefit of its employees, of (b) employee benefit plan within the meaning of Title I of the ERISA,
except, in each case, trust funds that include as participants individual retirement accounts or H.R. 10 plans;

 

☐
is a business development company as defined in section 202(a)(22) of the Investment Advisers
Act of 1940, as amended (the “Investment Advisers Act”);

 

☐
is an organization described in section 501(c)(3) of the Internal Revenue Code of 1986, as
amended (the “Internal Revenue Code”), corporation (other than a bank as defined in section 3(a)(2) of the
Act, a savings and loan association or other institution referenced in section 3(a)(5)(A) of the Act, or a foreign bank or savings
and loan association or equivalent institution), partnership, or Massachusetts or similar business trust; or

 

☐
is an investment adviser registered under the Investment Advisers Act;

 

☐
The Subscriber is a dealer registered pursuant to Section 15 of the Securities Exchange Act
of 1934, as amended (the “Exchange Act”), acting for its own account or the accounts of other qualified institutional
buyers, that in the aggregate owns and invests on a discretionary basis at least $10 million of securities of issuers that are
not affiliated with the Subscriber;

 

☐
The Subscriber is a dealer registered pursuant to Section 15 of the Exchange Act acting in
a riskless principal transaction on behalf of a qualified institutional buyer;

 

☐
The Subscriber is an investment company registered under the Investment Company Act, acting
for its own account or for the accounts of other qualified institutional buyers, that is part of a family of investment companies1 which
own in the aggregate at least $100 million in securities of issuers, other than issuers that are affiliated with Subscriber or
are part of such family of investment companies;

 

☐
The Subscriber is an entity, all of the equity owners of which are qualified institutional
buyers, acting for its own account or the accounts of other qualified institutional buyers; or

 

☐
The Subscriber is a as defined in section 3(a)(2) of the Securities Act, or any savings and
loan association or other institution as defined in section 3(a)(5)(A) of the Securities Act, or any foreign bank or savings and
loan association or equivalent institution, acting for its own account or the accounts of other qualified institutional buyers,
that in the aggregate owns and invests on a discretionary basis at least $100 million in securities of issuers that are not affiliated
with the Subscriber and that has an audited net worth of at least $25 million as demonstrated in its latest annual financial statements,
as of a date not more than 16 months preceding the date of sale of securities in the case of a US bank or savings and loan association,
and not more than 18 months preceding the date of sale of securities for a foreign bank or savings and loan association or equivalent
institution.

 

 

1 Family of investment companies”
means any two or more investment companies registered under the Investment Company Act, except for a unit investment trust whose
assets consist solely of shares of one or more registered investment companies, that have the same investment adviser (or, in
the case of unit investment trusts, the same depositor); provided that, (a) each series of a series company (as defined in Rule
18f-2 under the Investment Company Act) shall be deemed to be a separate investment company and (b) investment companies shall
be deemed to have the same adviser (or depositor) if their advisers (or depositors) are majority-owned subsidiaries of the same
parent, or if one investment company’s adviser (or depositor) is a majority-owned subsidiary of the other investment company’s
adviser (or depositor).

 

     

     

    

 

Rule 501(a) under the Securities
Act, in relevant part, states that an “accredited investor” shall mean any person who comes within any of the below
listed categories, or who the issuer reasonably believes comes within any of the below listed categories, at the time of the sale
of the securities to that person. Subscriber has indicated, by marking and initialing the appropriate box(es) below, the provision(s)
below which apply to Subscriber and under which Subscriber accordingly qualifies as an “accredited investor.”

 

	 	☐	Any bank as defined in section 3(a)(2) of the Securities Act, or
    any savings and loan association or other institution as defined in section 3(a)(5)(A) of the Securities Act whether acting
    in its individual or fiduciary capacity;

 

	 	☐	Any broker or dealer registered pursuant to section 15 of the Exchange
    Act;

 

	 	☐	Any insurance company as defined in section 2(a)(13) of the Securities
    Act;

 

	 	☐	Any investment company registered under the Investment
    Company Act or a business development company as defined in section 2(a)(48) of the Investment Company Act;

 

	 	☐	Any Small Business Investment Company licensed by the U.S. Small
    Business Administration under section 301(c) or (d) of the Small Business Investment Act;

 

	 	☐	Any plan established and maintained by a state, its political subdivisions,
    or any agency or instrumentality of a state or its political subdivisions, for the benefit of its employees, if such plan
    has total assets in excess of $5,000,000;

 

	 	☐	Any employee benefit plan within the meaning of Title I of the
    ERISA, if (i) the investment decision is made by a plan fiduciary, as defined in section 3(21) of ERISA, which is either a
    bank, a savings and loan association, an insurance company, or a registered investment adviser, (ii) the employee benefit
    plan has total assets in excess of $5,000,000 or, (iii) such plan is a self-directed plan, with investment decisions made
    solely by persons that are “accredited investors”;

 

	 	☐	Any private business development company as defined in section
    202(a)(22) of the Investment Advisers Act;

 

	 	☐	Any (i) corporation, limited liability company or partnership,
    (ii) Massachusetts or similar business trust, or (iii) organization described in section 501(c)(3) of the Internal Revenue
    Code, in each case that was not formed for the specific purpose of acquiring the securities offered and that has total assets
    in excess of $5,000,000;

 

	 	☐	Any director, executive officer, or general partner of the issuer
    of the securities being offered or sold, or any director, executive officer, or general partner of a general partner of that
    issuer;

 

	 	☐	Any natural person whose individual net worth, or joint net worth
    with that person’s spouse, exceeds $1,000,000. For purposes of calculating a natural person’s net worth: (a) the
    person’s primary residence shall not be included as an asset; (b) indebtedness that is secured by the person’s
    primary residence, up to the estimated fair market value of the primary residence at the time of the sale of securities, shall
    not be included as a liability (except that if the amount of such indebtedness outstanding at the time of sale of securities
    exceeds the amount outstanding 60 days before such time, other than as a result of the acquisition of the primary residence,
    the amount of such excess shall be included as a liability); and (c) indebtedness that is secured by the person’s primary
    residence in excess of the estimated fair market value of the primary residence at the time of the sale of securities shall
    be included as a liability;

 

	 	☐	Any natural person who had an individual income in excess of $200,000
    in each of the two most recent years or joint income with that person’s spouse in excess of $300,000 in each of those
    years and has a reasonable expectation of reaching the same income level in the current year;

 

	 	☐	Any trust, with total assets in excess of $5,000,000, not formed
    for the specific purpose of acquiring the securities offered, whose purchase is directed by a sophisticated person as described
    in Section 230.506(b)(2)(ii) of Regulation D under the Securities Act; or

 

	 	☐	Any entity in which all of the equity owners are “accredited
    investors.”

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