Document:

Exhibit 4.4

 

WARRANT
AGREEMENT

 

THIS WARRANT AGREEMENT
(this “Agreement”), dated as of [●], 2021, is by and between Valor Latitude Acquisition Corp.,
a Cayman Islands exempted company (the “Company”), and Continental Stock Transfer & Trust Company,
a New York corporation, as warrant agent (in such capacity, the “Warrant Agent,” and also referred to
herein as the “Transfer Agent”).

 
WHEREAS,
                                         the Company is engaged in an initial public offering (the “Offering”)
                                         of units of the Company’s equity securities, each such unit comprised of one Class
                                         A ordinary share of the Company, par value $0.0001 per share (“Ordinary Shares”)
                                         and one-third of a redeemable Public Warrant (as defined below) (the “Units”)
                                         and, in connection therewith, has determined to issue and deliver up to 6,666,667
                                         warrants (or up to 7,666,667 warrants if the Over-allotment Option (as defined below)
                                         is exercised in full) to public investors in the Offering (the “Public
                                         Warrants”);

 

WHEREAS,
the Company entered into that certain Private Placement Warrants Purchase Agreement with Valor Latitude LLC, a Cayman Islands
limited liability company (the “Sponsor”) and that certain Subscription Agreement with Phoenix SPAC
Holdco LLC (“Phoenix”), pursuant to which the Sponsor and Phoenix agreed to purchase an aggregate of
4,000,000 private placement warrants (or up to 4,400,000 private placement warrants if
the Over-allotment Option is exercised in full) simultaneously with the closing of the Offering (and the closing of
the Over-allotment Option, if applicable), each bearing the legend set forth in Exhibit A hereto (the
“Private Placement Warrants”);

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

 

WHEREAS, each Warrant
entitles the holder thereof to purchase one Ordinary Share at a price of $11.50 per share, subject to adjustment as described herein;

 

WHEREAS,
the Company has filed with the U.S. Securities and Exchange Commission (the “Commission”) a registration
statement on Form S-1, File No. 333-254159 (the “Registration Statement”) and prospectus (the “Prospectus”)
and an additional registration statement on Form S-1 pursuant to Rule 462(b) under the Securities Act of 1933, as amended (the
“Securities Act”), for the registration, under the Securities Act of the Units, the Public Warrants
and the Ordinary Shares included in the Units; 

 

WHEREAS, the Company
desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance,
registration, transfer, exchange, redemption and exercise of the Warrants;

 

WHEREAS, the Company
desires to provide for the form and provisions of the Warrants, the terms upon which they shall be issued and exercised, and the
respective rights, limitation of rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants; and

 

WHEREAS, all acts and
things have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company and countersigned
by or on behalf of the Warrant Agent, as provided herein, the valid, binding and legal obligations of the Company, and to authorize
the execution and delivery of this Agreement.

 

NOW, THEREFORE, in
consideration of the mutual agreements herein contained, the parties hereto agree as follows:

 

1. Appointment of
Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company for the Warrants, and the Warrant
Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions set forth in this
Agreement.

 

2. Warrants.

 

     

     

    

 

2.1 Form of Warrant.
Each Warrant shall be issued in registered form only, and, if a physical certificate is issued, shall be in substantially the form
of Exhibit B hereto, the provisions of which are incorporated herein and shall be signed by, or bear the facsimile signature
of, the Chairman of the Board, President, Chief Executive Officer, Chief Financial Officer, Secretary or other principal officer
of the Company. In the event the person whose facsimile signature has been placed upon any Warrant shall have ceased to serve in
the capacity in which such person signed the Warrant before such Warrant is issued, it may be issued with the same effect as if
he or she had not ceased to be such at the date of issuance. All of the Public Warrants shall initially be represented by one or
more book-entry certificates (each, a “Book-Entry Warrant Certificate”).

 

2.2 Effect of Countersignature.
If a physical certificate is issued, unless and until countersigned by the Warrant Agent pursuant to this Agreement, a Warrant
certificate shall be invalid and of no effect and may not be exercised by the holder thereof.

 

2.3 Registration.

 

2.3.1 Warrant Register.
The Warrant Agent shall maintain books (the “Warrant Register”) for the registration of original issuance
and the registration of transfer of the Warrants. Upon the initial issuance of the Warrants, the Warrant Agent shall issue and
register the Warrants in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions
delivered to the Warrant Agent by the Company. All of the Public Warrants shall initially be represented by one or more Book-Entry
Warrant Certificates deposited with The Depository Trust Company (the “Depositary”) and registered in
the name of Cede & Co., a nominee of the Depositary. Ownership of beneficial interests in the Public Warrants shall be shown
on, and the transfer of such ownership shall be effected through, records maintained by (i) the Depositary or its nominee for each
Book-Entry Warrant Certificate, or (ii) institutions that have accounts with the Depositary (each such institution, with respect
to a Warrant in its account, a “Participant”).

 

If the Depositary subsequently ceases to
make its book-entry settlement system available for the Public Warrants, the Company may instruct the Warrant Agent regarding making
other arrangements for book-entry settlement. In the event that the Public Warrants are not eligible for, or it is no longer necessary
to have the Public Warrants available in, book-entry form, the Warrant Agent shall provide written instructions to the Depositary
to deliver to the Warrant Agent for cancellation each Book-Entry Warrant Certificate, and the Company shall instruct the Warrant
Agent to deliver to the Depositary definitive certificates in physical form evidencing such Warrants (“Definitive Warrant
Certificate”). Such Definitive Warrant Certificate shall be in the form annexed hereto as Exhibit B, with
appropriate insertions, modifications and omissions, as provided above.

 

2.3.2 Registered
Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent may deem and
treat the person in whose name such Warrant is registered in the Warrant Register (the “Registered Holder”)
as the absolute owner of such Warrant and of each Warrant represented thereby (notwithstanding any notation of ownership or other
writing on a Definitive Warrant Certificate made by anyone other than the Company or the Warrant Agent), for the purpose of any
exercise thereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to
the contrary.

 

2.4 Detachability
of Warrants. The Ordinary Shares and Public Warrants comprising the Units shall begin separate trading on the 52nd
day following the date of the Prospectus or, if such 52nd day is not on a day, other than a Saturday, Sunday or federal
holiday, on which banks in New York City are generally open for normal business (a “Business Day”), then
on the immediately succeeding Business Day following such date, or earlier (the “Detachment Date”) with
the consent of BofA Securities, Inc. and Barclays Capital Inc. as representatives of the several underwriters, but in no event
shall the Ordinary Shares and the Public Warrants comprising the Units be separately traded until (A) the Company has filed a current
report on Form 8-K with the Commission containing an audited balance sheet reflecting the receipt by the Company of the gross proceeds
of the Offering, including the proceeds received by the Company from the exercise by the underwriters of their right to purchase
additional Units in the Offering (the “Over-allotment Option”), if the Over-allotment Option is exercised
prior to the filing of the Form 8-K, and (B) the Company issues a press release and files with the Commission a current report
on Form 8-K announcing when such separate trading shall begin.

 

2.5 No
Fractional Warrants Other Than as Part of Units. The Company shall not issue fractional Warrants other than as part of
the Units, each of which is comprised of one Ordinary Share and one-third of one whole Public Warrant. If, upon the
detachment of Public Warrants from Units or otherwise, a holder of Warrants would be entitled to receive a fractional
Warrant, the Company shall round down to the nearest whole number of Warrants to be issued to such holder.

 

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2.6 Private
Placement Warrants and Working Capital Warrants. The Private Placement Warrants and the Working Capital Warrants shall be
identical to the Public Warrants, except that so long as they are held by the Sponsor, Phoenix or any of their respective
Permitted Transferees (as defined below), as applicable, the Private Placement Warrants and the Working Capital Warrants: (i)
may be exercised for cash or on a “cashless basis,” pursuant to subsection 3.3.1(c) hereof, (ii) including
the Ordinary Shares issuable upon exercise of the Private Placement Warrants and Working Capital Warrants, may not be
transferred, assigned or sold until thirty (30) days after the completion by the Company of an initial Business Combination,
(iii) shall not be redeemable by the Company pursuant to Section 6.1 hereof and (iv) shall only be redeemable by the
Company pursuant to Section 6.2 if the Reference Value (as defined below) is less than $18.00 per share (subject to
adjustment in compliance with Section 4 hereof); provided, however, that in the case of clause (ii), the
Private Placement Warrants and the Working Capital Warrants and any Ordinary Shares held by the Sponsor,  Phoenix or any of
their respective Permitted Transferees, as applicable, and issued upon exercise of the Private Placement Warrants and the
Working Capital Warrants may be transferred by the holders thereof:

 
(a) to the Company’s
officers or directors, any affiliate or family member of any of the Company’s officers or directors, any affiliate of the
Sponsor, to any member(s) of the Sponsor or any of their affiliates or to Phoenix;

  

(b) in the case of
an individual, by gift to a member of such individual’s immediate family or to a trust, the beneficiary of which is a member
of such individual’s immediate family, an affiliate of such individual or to a charitable organization;

 

(c) in the case of
an individual, by virtue of the laws of descent and distribution upon death of such person;

 

(d) in the case of
an individual, pursuant to a qualified domestic relations order;

 

(e) by private sales
or transfers made in connection with any forward purchase agreement or similar arrangement or in connection with the consummation
of an initial Business Combination at prices no greater than the price at which the Ordinary Shares or Warrants were originally
purchased;

 

(f) by virtue of the
laws of the Cayman Islands or the limited liability company agreement of the Sponsor upon dissolution of the Sponsor;

 

(g) in the case
of Phoenix, to Phoenix’s affiliates, or any investment fund or other entity controlled or managed by Phoenix, or to
any investment manager or investment advisor of  Phoenix or an affiliate of any such investment manager or investment
advisor;

  

(h) in the event of
the Company’s liquidation prior to the consummation of a Business Combination; and

 

(i) in the event that,
subsequent to the consummation of an initial Business Combination, the Company completes a liquidation, merger, share exchange
or other similar transaction which results in all of its shareholders having the right to exchange their Ordinary Shares for cash,
securities or other property; provided, however, that, in the case of clauses (a) through (g), these transferees (the “Permitted
Transferees”) enter into a written agreement with the Company agreeing to be bound by the transfer restrictions
in this Agreement and the other restrictions contained in (1) the letter agreement, dated as of the date hereof, by and among
the Company, the Sponsor and the Company’s officers and directors and (2) the Subscription Agreement, dated as of [n],
by and between the Company and Phoenix.

 

2.7 Working Capital
Warrants. Each of the Working Capital Warrants shall be identical to the Private Placement Warrants.

 

3. Terms and Exercise
of Warrants.

 

3.1 Warrant Price.
Each whole Warrant shall entitle the Registered Holder thereof, subject to the provisions of such Warrant and of this Agreement,
to purchase from the Company the number of Ordinary Shares stated therein, at the price of $11.50 per share, subject to the adjustments
provided in Section 4 hereof and in the last sentence of this Section 3.1. The term “Warrant Price” as
used in this Agreement shall mean the price per share at which the Ordinary Shares may be purchased at the time a Warrant is exercised.
The Company in its sole discretion may lower the Warrant Price at any time prior to the Expiration Date (as defined below) for
a period of not less than twenty (20) Business Days, provided, that the Company shall provide at least three (3) days prior written
notice of such reduction to Registered Holders of the Warrants and, provided further that any such reduction shall be identical
among all of the Warrants.

 

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3.2 Duration of
                                                                                                                Warrants. A Warrant may be exercised only during the period (the “Exercise Period”) commencing
                                                                                                                on the later of: (i) the date that is thirty (30) days after the first date on which the Company completes a merger, share
                                                                                                                exchange, asset acquisition, share purchase, reorganization or similar business combination, involving the Company and one or
                                                                                                                more businesses (a “Business Combination”), and (ii) the date that is twelve (12) months from the
                                                                                                                date of the closing of the Offering, and terminating at the earliest to occur of: (x) at 5:00 p.m., New York City time on the
                                                                                                                date that is five (5) years after the date on which the Company completes its initial Business Combination, (y) the
                                                                                                                liquidation of the Company, and (z) other than with respect to the Private Placement Warrants and the Working Capital
                                                                                                                Warrants then held by the Sponsor,  Phoenix or their respective Permitted Transferee, as applicable, with respect to a
                                                                                                                redemption pursuant to Section 6.1 hereof or, if the Reference Value equals or exceeds $18.00 per share (subject to
                                                                                                                adjustment in compliance with Section 4 hereof), Section 6.2 hereof, at 5:00 p.m., New York City time on the
                                                                                                                Redemption Date (as defined below) as provided in Section 6.3 hereof (the “Expiration
                                                                                                                Date”); provided, however, that the exercise of any Warrant shall be subject to the satisfaction
                                                                                                                of any applicable conditions, as set forth in subsection 3.3.2 below, with respect to an effective registration
                                                                                                                statement. Except with respect to the right to receive the Redemption Price (as defined below) (other than with respect to a
                                                                                                                Private Placement Warrant or a Working Capital Warrant then held by the Sponsor, Phoenix, or their Permitted Transferee, as
                                                                                                                applicable, in connection with a redemption pursuant to Section 6.1 hereof or, if the Reference Value equals or exceeds
                                                                                                                $18.00 per share (subject to adjustment in compliance with Section 4 hereof), Section 6.2 hereof) in the event of a
                                                                                                                redemption (as set forth in Section 6 hereof), each outstanding Warrant (other than a Private Placement Warrant or a
                                                                                                                Working Capital Warrant then held by the Sponsor,  Phoenix or their respective Permitted Transferees, as applicable, in the
                                                                                                                event of a redemption pursuant to Section 6.1 hereof or, if the Reference Value equals or exceeds $18.00 per share
                                                                                                                (subject to adjustment in compliance with Section 4 hereof), Section 6.2 hereof) not exercised on or before the
                                                                                                                Expiration Date shall become void, and all rights thereunder and all rights in respect thereof under this Agreement shall
                                                                                                                cease at 5:00 p.m. New York City time on the Expiration Date. The Company in its sole discretion may extend the duration of
                                                                                                                the Warrants by delaying the Expiration Date; provided, that the Company shall provide at least twenty (20) days prior
                                                                                                                written notice of any such extension to Registered Holders of the Warrants and, provided further that any such extension
                                                                                                                shall be identical in duration among all the Warrants.

  

3.3 Exercise of Warrants.

 

3.3.1 Payment.
Subject to the provisions of the Warrant and this Agreement, a Warrant may be exercised by the Registered Holder thereof by delivering
to the Warrant Agent at its corporate trust department (i) the Definitive Warrant Certificate evidencing the Warrants to be exercised,
or, in the case of a Book-Entry Warrant Certificate, the Warrants to be exercised (the “Book-Entry Warrants”)
on the records of the Depositary to an account of the Warrant Agent at the Depositary designated for such purposes in writing by
the Warrant Agent to the Depositary from time to time, (ii) an election to purchase (“Election to Purchase”)
Ordinary Shares pursuant to the exercise of a Warrant, properly completed and executed by the Registered Holder on the reverse
of the Definitive Warrant Certificate or, in the case of a Book-Entry Warrant Certificate, properly delivered by the Participant
in accordance with the Depositary’s procedures, and (iii) payment in full of the Warrant Price for each Ordinary Share as
to which the Warrant is exercised and any and all applicable taxes due in connection with the exercise of the Warrant, the exchange
of the Warrant for the Ordinary Shares and the issuance of such Ordinary Shares, as follows:

 

(a) in lawful money
of the United States, in good certified check or good bank draft payable to the Warrant Agent or by wire transfer of immediately
available funds;

 

(b) [Reserved];

 

(c) with respect to any Private
Placement Warrant or Working Capital Warrant, so long as such Private Placement Warrant or Working Capital Warrant is held by the Sponsor,
Phoenix or their respective Permitted Transferees, as applicable, by surrendering the Warrants for that number of Ordinary Shares equal
to (i) if in connection with the redemption of Private Placement Warrants or Working Capital Warrants pursuant to Section 6.2 hereof,
as provided in Section 6.2 hereof with respect to a Make-Whole Exercise and (ii) in all other scenarios the quotient obtained by
dividing (x) the product of the number of Ordinary Shares underlying the Warrants, multiplied by the excess of the “Sponsor Exercise
Fair Market Value,” as defined in this subsection 3.3.1(c), over the Warrant Price by (y) the Sponsor Exercise Fair Market
Value. Solely for purposes of this subsection 3.3.1(c), the “Sponsor Exercise Fair Market Value” shall mean the average
reported closing price of the Ordinary Shares for the ten (10) trading days ending on the third trading day prior to the date on which
notice of exercise of the Warrant is sent to the Warrant Agent;

 

(d) on a cashless basis,
as provided in Section 6.2 hereof with respect to a Make-Whole Exercise; or

 

(e) on a cashless basis
as provided in Section 7.4 hereof.

 

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3.3.2 Issuance
of Ordinary Shares on Exercise. As soon as practicable after the exercise of any Warrant and the clearance of the funds in
payment of the Warrant Price (if payment is pursuant to subsection 3.3.1(a)), the Company shall issue to the Registered
Holder of such Warrant a book-entry position or certificate, as applicable, for the number of Ordinary Shares to which he, she
or it is entitled, registered in such name or names as may be directed by him, her or it, and if such Warrant shall not have been
exercised in full, a new book-entry position or countersigned Warrant, as applicable, for the number of Ordinary Shares as to which
such Warrant shall not have been exercised. If fewer than all the Warrants evidenced by a Book-Entry Warrant Certificate are exercised,
a notation shall be made to the records maintained by the Depositary, its nominee for each Book-Entry Warrant Certificate, or a
Participant, as appropriate, evidencing the balance of the Warrants remaining after such exercise. Notwithstanding the foregoing,
the Company shall not be obligated to deliver any Ordinary Shares pursuant to the exercise of a Warrant and shall have no obligation
to settle such Warrant exercise unless a registration statement under the Securities Act with respect to the Ordinary Shares underlying
the Public Warrants is then effective and a prospectus relating thereto is current, subject to the Company’s satisfying its
obligations under Section 7.4. No Warrant shall be exercisable and the Company shall not be obligated to issue Ordinary
Shares upon exercise of a Warrant unless the Ordinary Shares issuable upon such Warrant exercise have been registered, qualified
or deemed to be exempt from registration or qualification under the securities laws of the state of residence of the Registered
Holder of the Warrants. In the event that the conditions in the two immediately preceding sentences are not satisfied with respect
to a Warrant, the holder of such Warrant shall not be entitled to exercise such Warrant and such Warrant may have no value and
expire worthless, in which case the purchaser of a Unit containing such Public Warrant shall have paid the full purchase price
for the Unit solely for the Ordinary Share underlying such Unit. In no event will the Company be required to net cash settle the
Warrant exercise. The Company may require holders of Public Warrants to settle the Warrant on a “cashless basis” pursuant
to Section 7.4. If, by reason of any exercise of Warrants on a “cashless basis,” the holder of any Warrant would
be entitled, upon the exercise of such Warrant, to receive a fractional interest in an Ordinary Share, the Company shall round
down to the nearest whole number, the number of Ordinary Shares to be issued to such holder.

 

3.3.3 Valid Issuance.
All Ordinary Shares issued upon the proper exercise of a Warrant in conformity with this Agreement shall be validly issued, fully
paid and non-assessable.

 

3.3.4 Date of Issuance.
Each person in whose name any book-entry position or certificate, as applicable, for Ordinary Shares is issued shall for all purposes
be deemed to have become the holder of record of such Ordinary Shares on the date on which the Warrant, or book-entry position
representing such Warrant, was surrendered and payment of the Warrant Price was made, irrespective of the date of delivery of such
certificate in the case of a certificated Warrant, except that, if the date of such surrender and payment is a date when the share
transfer books of the Company or book-entry system of the Warrant Agent are closed, such person shall be deemed to have become
the holder of such Ordinary Shares at the close of business on the next succeeding date on which the share transfer books or book-entry
system are open.

 

3.3.5 Maximum Percentage.
A holder of a Warrant may notify the Company in writing in the event it elects to be subject to the provisions contained in this
subsection 3.3.5; however, no holder of a Warrant shall be subject to this subsection 3.3.5 unless he, she
or it makes such election. If the election is made by a holder, the Warrant Agent shall not effect the exercise of the holder’s
Warrant, and such holder shall not have the right to exercise such Warrant, to the extent that after giving effect to such exercise,
such person (together with such person’s affiliates), to the Warrant Agent’s actual knowledge, would beneficially own
in excess of 4.9% or 9.8% (or such other amount as a holder may specify) (the “Maximum Percentage”) of
the Ordinary Shares outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate
number of Ordinary Shares beneficially owned by such person and its affiliates shall include the number of Ordinary Shares issuable
upon exercise of the Warrant with respect to which the determination of such sentence is being made, but shall exclude Ordinary
Shares that would be issuable upon (x) exercise of the remaining, unexercised portion of the Warrant beneficially owned by such
person and its affiliates and (y) exercise or conversion of the unexercised or unconverted portion of any other securities of the
Company beneficially owned by such person and its affiliates (including, without limitation, any convertible notes or convertible
preferred shares or warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein. Except
as set forth in the preceding sentence, for purposes of this paragraph, beneficial ownership shall be calculated in accordance
with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). For purposes
of the Warrant, in determining the number of outstanding Ordinary Shares, the holder may rely on the number of outstanding Ordinary
Shares as reflected in (1) the Company’s most recent annual report on Form 10-K, quarterly report on Form 10-Q, current report
on Form 8-K or other public filing with the Commission as the case may be, (2) a more recent public announcement by the Company
or (3) any other notice by the Company or the Transfer Agent setting forth the number of Ordinary Shares outstanding. For any reason
at any time, upon the written request of the holder of the Warrant, the Company shall, within two (2) Business Days, confirm orally
and in writing to such holder the number of Ordinary Shares then outstanding. In any case, the number of outstanding Ordinary Shares
shall be determined after giving effect to the conversion or exercise of equity securities of the Company by the holder and its
affiliates since the date as of which such number of outstanding Ordinary Shares was reported. By written notice to the Company,
the holder of a Warrant may from time to time increase or decrease the Maximum Percentage applicable to such holder to any other
percentage specified in such notice; provided, however, that any such increase shall not be effective until the sixty-first
(61st) day after such notice is delivered to the Company.

 

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4. Adjustments.

 

4.1 Share Capitalizations.

 

4.1.1 Split-Ups.
If after the date hereof, and subject to the provisions of Section 4.6 below, the number of outstanding Ordinary Shares
is increased by a share capitalization payable in Ordinary Shares, or by a split-up of Ordinary Shares or other similar event,
then, on the effective date of such share capitalization, split-up or similar event, the number of Ordinary Shares issuable on
exercise of each Warrant shall be increased in proportion to such increase in the outstanding Ordinary Shares. A rights offering
to holders of the Ordinary Shares entitling holders to purchase Ordinary Shares at a price less than the “Historical Fair
Market Value” (as defined below) shall be deemed a share capitalization of a number of Ordinary Shares equal to the product
of (i) the number of Ordinary Shares actually sold in such rights offering (or issuable under any other equity securities sold
in such rights offering that are convertible into or exercisable for Ordinary Shares) and multiplied by (ii) one (1) minus the
quotient of (x) the price per Ordinary Share paid in such rights offering divided by (y) the Historical Fair Market Value. For
purposes of this subsection 4.1.1, (i) if the rights offering is for securities convertible into or exercisable for Ordinary
Shares, in determining the price payable for Ordinary Shares, there shall be taken into account any consideration received for
such rights, as well as any additional amount payable upon exercise or conversion and (ii) “Historical Fair Market Value”
means the volume weighted average price of the Ordinary Shares as reported during the ten (10) trading day period ending on the
trading day prior to the first date on which the Ordinary Shares trade on the applicable exchange or in the applicable market,
regular way, without the right to receive such rights. No Ordinary Shares shall be issued at less than their par value.

 

4.1.2 Extraordinary
Dividends. If the Company, at any time while the Warrants are outstanding and unexpired, shall pay a dividend or make a distribution
in cash, securities or other assets to the holders of Ordinary Shares on account of such Ordinary Shares (or other shares of the
Company’s share capital into which the Warrants are convertible), other than (a) as described in subsection 4.1.1
above, (b) Ordinary Cash Dividends (as defined below), (c) to satisfy the redemption rights of the holders of Ordinary Shares in
connection with a proposed initial Business Combination, (d) to satisfy the redemption rights of the holders of Ordinary Shares
in connection with a shareholder vote to amend the Company’s amended and restated memorandum and articles of association
(as amended from time to time, the “Charter”) (A) to modify the substance or timing of the Company’s
obligation to allow redemption in connection with our initial business combination or to redeem 100% of the Ordinary Shares included
in the Units sold in the Offering (the “Public Shares”) if the Company does not complete the Business
Combination within the period set forth in the Charter or (B) with respect to any other material provisions relating to shareholders’
rights or pre-initial Business Combination activity or (e) in connection with the redemption of Public Shares upon the failure
of the Company to complete its initial Business Combination and any subsequent distribution of its assets upon its liquidation
(any such non-excluded event being referred to herein as an “Extraordinary Dividend”), then the Warrant
Price shall be decreased, effective immediately after the effective date of such Extraordinary Dividend, by the amount of cash
and/or the fair market value (as determined by the Board, in good faith) of any securities or other assets paid on each Ordinary
Share in respect of such Extraordinary Dividend. For purposes of this subsection 4.1.2, “Ordinary Cash Dividends”
means any cash dividend or cash distribution which, when combined on a per share basis, with the per share amounts of all other
cash dividends and cash distributions paid on the Ordinary Shares during the 365-day period ending on the date of declaration of
such dividend or distribution (as adjusted to appropriately reflect any of the events referred to in other subsections of this
Section 4 and excluding cash dividends or cash distributions that resulted in an adjustment to the Warrant Price or to the
number of Ordinary Shares issuable on exercise of each Warrant) does not exceed $0.50 (being 5% of the offering price of the Units
in the Offering) but only with respect to the amount of the aggregate cash dividends or cash distributions equal to or less than
$0.50.

 

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4.2 Aggregation of
Shares. If after the date hereof, and subject to the provisions of Section 4.6 hereof, the number of outstanding Ordinary
Shares is decreased by a consolidation, combination, reverse share split or reclassification of Ordinary Shares or other similar
event, then, on the effective date of such consolidation, combination, reverse share split, reclassification or similar event,
the number of Ordinary Shares issuable on exercise of each Warrant shall be decreased in proportion to such decrease in outstanding
Ordinary Shares.

 

4.3 Adjustments in
Warrant Price.

 

4.3.1 Whenever the
number of Ordinary Shares purchasable upon the exercise of the Warrants is adjusted, as provided in subsection 4.1.1 or
Section 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price immediately
prior to such adjustment by a fraction (x) the numerator of which shall be the number of Ordinary Shares purchasable upon the exercise
of the Warrants immediately prior to such adjustment, and (y) the denominator of which shall be the number of Ordinary Shares so
purchasable immediately thereafter.

 
4.3.2 If (x) the
                                                                                                                  Company issues additional Ordinary Shares or equity-linked securities for capital raising purposes in connection with the
                                                                                                                  closing of the initial Business Combination at an issue price or effective issue price of less than $9.20 per Ordinary Share
                                                                                                                  (with such issue price or effective issue price to be determined in good faith by the Board and, in the case of any such
                                                                                                                  issuance to the initial shareholders (as defined in the Prospectus) or their affiliates or Phoenix or its affiliates, without
                                                                                                                  taking into account any Class B Ordinary Shares (as defined below) held by such shareholders or their affiliates or Phoenix
                                                                                                                  or its affiliates, as applicable, prior to such issuance (the “Newly Issued Price”)), (y) the
                                                                                                                  aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon,
                                                                                                                  available for funding the initial Business Combination on the date of the completion of the Company’s initial Business
                                                                                                                  Combination (net of redemptions), and (z) the volume weighted average trading price of the Ordinary Shares during the 20
                                                                                                                  trading day period starting on the trading day prior to the day on which the Company consummates the Business Combination
                                                                                                                  (such price, the “Market Value”) is below $9.20 per share, the Warrant Price shall be adjusted (to
                                                                                                                  the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, and the $10.00 and $18.00
                                                                                                                  per share redemption trigger prices described in Section 6.2 and Section 6.1, respectively, shall be adjusted
                                                                                                                  (to the nearest cent) to be equal to 100% and 180%, respectively, of the higher of the Market Value and the Newly Issued
                                                                                                                  Price.

 

4.4 Replacement of
Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding Ordinary Shares (other
than a change under subsections 4.1.1 or 4.1.2 or Section 4.2 hereof or that solely affects the par value
of such Ordinary Shares), or in the case of any merger or consolidation of the Company with or into another entity or conversion
of the Company as another entity (other than a consolidation or merger in which the Company is the continuing corporation and that
does not result in any reclassification or reorganization of the outstanding Ordinary Shares), or in the case of any sale or conveyance
to another entity of the assets or other property of the Company as an entirety or substantially as an entirety in connection with
which the Company is dissolved, the holders of the Warrants shall thereafter have the right to purchase and receive, upon the basis
and upon the terms and conditions specified in the Warrants and in lieu of the Ordinary Shares of the Company immediately theretofore
purchasable and receivable upon the exercise of the rights represented thereby, the kind and amount of shares or other securities
or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution
following any such sale or transfer, that the holder of the Warrants would have received if such holder had exercised his, her
or its Warrant(s) immediately prior to such event (the “Alternative Issuance”); provided, however,
that (i) if the holders of the Ordinary Shares were entitled to exercise a right of election as to the kind or amount of securities,
cash or other assets receivable upon such consolidation or merger, then the kind and amount of securities, cash or other assets
constituting the Alternative Issuance for which each Warrant shall become exercisable shall be deemed to be the weighted average
of the kind and amount received per share by the holders of the Ordinary Shares in such consolidation or merger that affirmatively
make such election, and (ii) if a tender, exchange or redemption offer shall have been made to and accepted by the holders of the
Ordinary Shares (other than a tender, exchange or redemption offer made by the Company in connection with redemption rights held
by shareholders of the Company as provided for in the Charter or as a result of the redemption of Ordinary Shares by the Company
if a proposed initial Business Combination is presented to the shareholders of the Company for approval) under circumstances in
which, upon completion of such tender or exchange offer, the maker thereof, together with members of any group (within the meaning
of Rule 13d-5(b)(1) under the Exchange Act (or any successor rule)) of which such maker is a part, and together with any affiliate
or associate of such maker (within the meaning of Rule 12b-2 under the Exchange Act (or any successor rule)) and any members of
any such group of which any such affiliate or associate is a part, own beneficially (within the meaning of Rule 13d-3 under the
Exchange Act (or any successor rule)) more than 65% of the outstanding Ordinary Shares, the holder of a Warrant shall be entitled
to receive as the Alternative Issuance, the highest amount of cash, securities or other property to which such holder would actually

 

    7 

     

    

 

have
been entitled as a shareholder if such Warrant holder had exercised the Warrant prior to the expiration of such tender or exchange
offer, accepted such offer and all of the Ordinary Shares held by such holder had been purchased pursuant to such tender or exchange
offer, subject to adjustments (from and after the consummation of such tender or exchange offer) as nearly equivalent as possible
to the adjustments provided for in this Section 4; provided further that if less than 70% of the consideration receivable
by the holders of the Ordinary Shares in the applicable event is payable in the form of capital stock or shares in the successor
entity that is listed for trading on a national securities exchange or is quoted in an established over-the-counter market, or
is to be so listed for trading or quoted immediately following such event, and if the Registered Holder properly exercises the
Warrant within thirty (30) days following the public disclosure of the consummation of such applicable event by the Company pursuant
to a Current Report on Form 8-K filed with the Commission, the Warrant Price shall be reduced by an amount (in dollars) equal
to the difference (but in no event less than zero) of (i) the Warrant Price in effect prior to such reduction minus (ii) (A) the
Per Share Consideration (as defined below) minus (B) the Black-Scholes Warrant Value (as defined below). The “Black-Scholes
Warrant Value” means the value of a Warrant immediately prior to the consummation of the applicable event based
on the Black-Scholes Warrant Model for a Capped American Call on Bloomberg Financial Markets (“Bloomberg”).
For purposes of calculating such amount, (1) Section 6 of this Agreement shall be taken into account, (2) the price of
each Ordinary Share shall be the volume weighted average price of the Ordinary Shares as reported during the ten (10) trading
day period ending on the trading day prior to the effective date of the applicable event, (3) the assumed volatility shall be
the 90 day volatility obtained from the HVT function on Bloomberg determined as of the trading day immediately prior to the day
of the announcement of the applicable event, and (4) the assumed risk-free interest rate shall correspond to the U.S. Treasury
rate for a period equal to the remaining term of the Warrant. “Per Share Consideration” means (i) if
the consideration paid to holders of the Ordinary Shares consists exclusively of cash, the amount of such cash per Ordinary Share,
and (ii) in all other cases, the volume weighted average price of the Ordinary Shares as reported during the ten (10) trading
day period ending on the trading day prior to the effective date of the applicable event. If any reclassification or reorganization
also results in a change in Ordinary Shares covered by subsection 4.1.1, then such adjustment shall be made pursuant to
subsection 4.1.1 or Sections 4.2, 4.3 and this Section 4.4. The provisions of this Section 4.4
shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers.
In no event will the Warrant Price be reduced to less than the par value per share issuable upon exercise of the Warrant.

 

4.5 Notices of Changes
in Warrant. Upon every adjustment of the Warrant Price or the number of Ordinary Shares issuable upon exercise of a Warrant,
the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting from such
adjustment and the increase or decrease, if any, in the number of Ordinary Shares purchasable at such price upon the exercise of
a Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon
the occurrence of any event specified in Sections 4.1, 4.2, 4.3 or 4.4, the Company shall give written
notice of the occurrence of such event to each holder of a Warrant, at the last address set forth for such holder in the Warrant
Register, of the record date or the effective date of the event. Failure to give such notice, or any defect therein, shall not
affect the legality or validity of such event.

 

4.6 No Fractional
Shares. Notwithstanding any provision contained in this Agreement to the contrary, the Company shall not issue fractional Ordinary
Shares upon the exercise of Warrants. If, by reason of any adjustment made pursuant to this Section 4, the holder of any
Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share, the Company shall, upon
such exercise, round down to the nearest whole number the number of Ordinary Shares to be issued to such holder.

 

4.7 Form of Warrant.
The form of Warrant need not be changed because of any adjustment pursuant to this Section 4, and Warrants issued after
such adjustment may state the same Warrant Price and the same number of Ordinary Shares as is stated in the Warrants initially
issued pursuant to this Agreement; provided, however, that the Company may at any time in its sole discretion make any change
in the form of Warrant that the Company may deem appropriate and that does not affect the substance thereof, and any Warrant thereafter
issued or countersigned, whether in exchange or substitution for an outstanding Warrant or otherwise, may be in the form as so
changed.

 

4.8 Other Events.
In case any event shall occur affecting the Company as to which none of the provisions of preceding subsections of this Section
4 are strictly applicable, but which would require an adjustment to the terms of the Warrants in order to (i) avoid an adverse
impact on the Warrants and (ii) effectuate the intent and purpose of this Section 4, then, in each such case, the Company
shall appoint a firm of independent public accountants, investment banking or other appraisal firm of recognized national standing,
which shall give its opinion as to whether or not any adjustment to the rights represented by the Warrants is necessary to effectuate
the intent and purpose of this Section 4 and, if they determine that an adjustment is necessary, the terms of such adjustment.
The Company shall adjust the terms of the Warrants in a manner that is consistent with any adjustment recommended in such opinion.

 

    8 

     

    

 

4.9 No Adjustment.
For the avoidance of doubt, no adjustment shall be made to the terms of the Warrants solely as a result of an adjustment to the
conversion ratio of the Company’s Class B ordinary shares (the “Class B Ordinary Shares”) into
Ordinary Shares or the conversion of the Class B Ordinary Shares into Ordinary Shares, in each case, pursuant to the Charter.

 

5. Transfer and
Exchange of Warrants.

 

5.1 Registration of
Transfer. The Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant upon the Warrant Register,
upon surrender of such Warrant for transfer, in the case of a certificated Warrant, properly endorsed with signatures properly
guaranteed and accompanied by appropriate instructions for transfer. Upon any such transfer, a new Warrant representing an equal
aggregate number of Warrants shall be issued and the old Warrant shall be cancelled by the Warrant Agent. In the case of certificated
Warrants, the Warrants so cancelled shall be delivered by the Warrant Agent to the Company from time to time upon request.

 

5.2 Procedure for
Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, together with a written request for exchange or transfer,
and thereupon the Warrant Agent shall issue in exchange therefor one or more new Warrants as requested by the Registered Holder
of the Warrants so surrendered, representing an equal aggregate number of Warrants; provided, however, that except as otherwise
provided herein or in any Book-Entry Warrant Certificate or Definitive Warrant Certificate, each Book-Entry Warrant Certificate
and Definitive Warrant Certificate may be transferred only in whole and only to the Depositary, to another nominee of the Depositary,
to a successor depository, or to a nominee of a successor depository; provided further, however, that in the event that
a Warrant surrendered for transfer bears a restrictive legend (as in the case of the Private Placement Warrants and the Working
Capital Warrants), the Warrant Agent shall not cancel such Warrant and issue new Warrants in exchange thereof until the Warrant
Agent has received an opinion of counsel for the Company stating that such transfer may be made and indicating whether the new
Warrants must also bear a restrictive legend.

 

5.3 Fractional Warrants.
The Warrant Agent shall not be required to effect any registration of transfer or exchange which shall result in the issuance of
a warrant certificate or book-entry position for a fraction of a warrant, except as part of the Units.

 

5.4 Service Charges.
No service charge shall be made for any exchange or registration of transfer of Warrants.

 

5.5 Warrant Execution
and Countersignature. The Warrant Agent is hereby authorized to countersign and to deliver, in accordance with the terms of
this Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5, and the Company, whenever
required by the Warrant Agent, shall supply the Warrant Agent with Warrants duly executed on behalf of the Company for such purpose.

 

5.6 Transfer of Warrants.
Prior to the Detachment Date, the Public Warrants may be transferred or exchanged only together with the Unit in which such Warrant
is included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange of such Unit. Furthermore, each
transfer of a Unit on the register relating to such Units shall operate also to transfer the Warrants included in such Unit. Notwithstanding
the foregoing, the provisions of this Section 5.6 shall have no effect on any transfer of Warrants on and after the Detachment
Date.

 

6. Redemption.

 

6.1 Redemption of
Warrants When the Price per Ordinary Share Equals or Exceeds $18.00. Subject to Section 6.5 hereof, not less than all
of the outstanding Warrants may be redeemed, at the option of the Company, at any time while they are exercisable and prior to
their expiration, at the office of the Warrant Agent, upon notice to the Registered Holders of the Warrants, as described in Section
6.3 below, at a Redemption Price of $0.01 per Warrant; provided that (a) the Reference Value (as defined below) equals
or exceeds $18.00 per share (subject to adjustment in compliance with Section 4 hereof), and (b) there is an effective registration
statement covering the Ordinary Shares issuable upon exercise of the Warrants, and a current prospectus relating thereto, available
throughout the 30-day Redemption Period (as defined in Section 6.3 below).

 

    9 

     

    

 

6.2 Redemption of Warrants When the Price
per Ordinary Share Equals or Exceeds $10.00. Subject to Section 6.5 hereof, not less than all of the outstanding Warrants
may be redeemed, at the option of the Company, at any time while they are exercisable and prior to their expiration, at the office
of the Warrant Agent, upon notice to the Registered Holders of the Warrants, as described in Section 6.3 below, at a Redemption
Price of $0.10 per Warrant, provided that (i) the Reference Value equals or exceeds $10.00 per share (subject to adjustment
in compliance with Section 4 hereof) and (ii) if the Reference Value is less than $18.00 per share (subject to adjustment
in compliance with Section 4 hereof), the Private Placement Warrants and Working Capital Warrants are also concurrently
called for redemption on the same terms as the outstanding Public Warrants. During the 30-day Redemption Period in connection with
a redemption pursuant to this Section 6.2, Registered Holders of the Warrants may elect to exercise their Warrants on a “cashless
basis” pursuant to subsection 3.3.1 and receive a number of Ordinary Shares determined by reference to the table below,
based on the Redemption Date (calculated for purposes of the table as the period to expiration of the Warrants) and the “Redemption
Fair Market Value” (as such term is defined in this Section 6.2) (a “Make-Whole Exercise”).
Solely for purposes of this Section 6.2, the “Redemption Fair Market Value” shall mean the volume weighted average
price of the Ordinary Shares for the ten (10) trading days immediately following the date on which notice of redemption pursuant
to this Section 6.2 is sent to the Registered Holders. In connection with any redemption pursuant to this Section 6.2,
the Company shall provide the Registered Holders with the Redemption Fair Market Value no later than one (1) Business Day after
the ten (10) trading day period described above ends.

 

	Redemption Date	 	Redemption Fair Market Value of Class A ordinary shares	 
	(period to

expiration

of warrants)	 	<10.00	 	11.00	 	12.00	 	13.00	 	14.00	 	15.00	 	16.00	 	17.00	 	>18.00	 
	60 months	 	0.261	 	0.280	 	0.297	 	0.311	 	0.324	 	0.337	 	0.348	 	0.358	 	0.361	 
	57 months	 	0.257	 	0.277	 	0.294	 	0.310	 	0.324	 	0.337	 	0.348	 	0.358	 	0.361	 
	54 months	 	0.252	 	0.272	 	0.291	 	0.307	 	0.322	 	0.335	 	0.347	 	0.357	 	0.361	 
	51 months	 	0.246	 	0.268	 	0.287	 	0.304	 	0.320	 	0.333	 	0.346	 	0.357	 	0.361	 
	48 months	 	0.241	 	0.263	 	0.283	 	0.301	 	0.317	 	0.332	 	0.344	 	0.356	 	0.361	 
	45 months	 	0.235	 	0.258	 	0.279	 	0.298	 	0.315	 	0.330	 	0.343	 	0.356	 	0.361	 
	42 months	 	0.228	 	0.252	 	0.274	 	0.294	 	0.312	 	0.328	 	0.342	 	0.355	 	0.361	 
	39 months	 	0.221	 	0.246	 	0.269	 	0.290	 	0.309	 	0.325	 	0.340	 	0.354	 	0.361	 
	36 months	 	0.213	 	0.239	 	0.263	 	0.285	 	0.305	 	0.323	 	0.339	 	0.353	 	0.361	 
	33 months	 	0.205	 	0.232	 	0.257	 	0.280	 	0.301	 	0.320	 	0.337	 	0.352	 	0.361	 
	30 months	 	0.196	 	0.224	 	0.250	 	0.274	 	0.297	 	0.316	 	0.335	 	0.351	 	0.361	 
	27 months	 	0.185	 	0.214	 	0.242	 	0.268	 	0.291	 	0.313	 	0.332	 	0.350	 	0.361	 
	24 months	 	0.173	 	0.204	 	0.233	 	0.260	 	0.285	 	0.308	 	0.329	 	0.348	 	0.361	 
	21 months	 	0.161	 	0.193	 	0.223	 	0.252	 	0.279	 	0.304	 	0.326	 	0.347	 	0.361	 
	18 months	 	0.146	 	0.179	 	0.211	 	0.242	 	0.271	 	0.298	 	0.322	 	0.345	 	0.361	 
	15 months	 	0.130	 	0.164	 	0.197	 	0.230	 	0.262	 	0.291	 	0.317	 	0.342	 	0.361	 
	12 months	 	0.111	 	0.146	 	0.181	 	0.216	 	0.250	 	0.282	 	0.312	 	0.339	 	0.361	 
	9 months	 	0.090	 	0.125	 	0.162	 	0.199	 	0.237	 	0.272	 	0.305	 	0.336	 	0.361	 
	6 months	 	0.065	 	0.099	 	0.137	 	0.178	 	0.219	 	0.259	 	0.296	 	0.331	 	0.361	 
	3 months	 	0.034	 	0.065	 	0.104	 	0.150	 	0.197	 	0.243	 	0.286	 	0.326	 	0.361	 
	0 months	 	—	 	—	 	0.042	 	0.115	 	0.179	 	0.233	 	0.281	 	0.323	 	0.361	 

 

The exact Redemption Fair Market Value and
Redemption Date may not be set forth in the table above, in which case, if the Redemption Fair Market Value is between two values
in the table or the Redemption Date is between two redemption dates in the table, the number of Ordinary Shares to be issued for
each Warrant exercised in a Make-Whole Exercise will be determined by a straight-line interpolation between the number of shares
set forth for the higher and lower Redemption Fair Market Values and the earlier and later redemption dates, as applicable, based
on a 365- or 366-day year, as applicable.

 

    10 

     

    

 

The share prices set forth in the column
headings of the table above shall be adjusted as of any date on which the number of shares issuable upon exercise of a Warrant
or the Warrant Price is adjusted pursuant to Section 4 hereof. In the event of a Warrant Price adjustment pursuant to Section
4.3, the adjusted share prices in the column headings shall equal the share prices immediately such adjustment, multiplied
by a fraction, the numerator of which is the Warrant Price after such adjustment and the denominator of which is the Warrant Price
immediately after such adjustment. In such an event, the number of shares in the table above shall be adjusted by multiplying such
share amounts by a fraction, the numerator of which is the number of shares deliverable upon exercise of a Warrant immediately
prior to such adjustment and the denominator of which is the number of shares deliverable upon exercise of a Warrant as so adjusted.
If the Warrant Price is adjusted pursuant to Section 4.4, the adjusted share prices set forth in the column headings of
the table above shall be multiplied by a fraction, the numerator of which is the higher of the Market Value and the Newly Issued
Price and the denominator of which is $10.00. In no event will the number of shares issued in connection with a Make-Whole Exercise
exceed 0.361 Ordinary Shares per Warrant (subject to adjustment).

 

6.3 Date Fixed for, and Notice of, Redemption;
Redemption Price; Reference Value. In the event that the Company elects to redeem the Warrants pursuant to Sections 6.1
or 6.2, the Company shall fix a date for the redemption (the “Redemption Date”). Notice
of redemption shall be mailed by first class mail, postage prepaid, by the Company not less than thirty (30) days prior to the
Redemption Date (such period, the “30-day Redemption Period”) to the Registered Holders of the Warrants
to be redeemed at their last addresses as they shall appear on the registration books. Any notice mailed in the manner herein provided
shall be conclusively presumed to have been duly given whether or not the Registered Holder received such notice. As used in this
Agreement, (a) “Redemption Price” shall mean the price per Warrant at which any Warrants are redeemed
pursuant to Sections 6.1 or 6.2 and (b) “Reference Value” shall mean the last reported
sales price of the Ordinary Shares for any twenty (20) trading days within the thirty (30) trading-day period ending on the third
trading day prior to the date on which notice of the redemption is given.

 

6.4 Exercise After
Notice of Redemption. The Warrants may be exercised, for cash (or on a “cashless basis” in accordance with Section
6.2 of this Agreement) at any time after notice of redemption shall have been given by the Company pursuant to Section 6.3
hereof and prior to the Redemption Date. On and after the Redemption Date, the record holder of the Warrants shall have no further
rights except to receive, upon surrender of the Warrants, the Redemption Price.

 
6.5 Exclusion of
                                                                                                                Private Placement Warrants and Working Capital Warrants. The Company agrees that (a) the redemption rights provided in Section
                                                                                                                6.1 hereof shall not apply to the Private Placement Warrants or the Working Capital Warrants if at the time of the
                                                                                                                redemption such Private Placement Warrants or Working Capital Warrants continue to be held by the Sponsor, Phoenix or any of
                                                                                                                their respective Permitted Transferees, as applicable and (b) if the Reference Value equals or exceeds $18.00 per share
                                                                                                                (subject to adjustment in compliance with Section 4 hereof), the redemption rights provided in Section 6.2 hereof shall not
                                                                                                                apply to the Private Placement Warrants or Working Capital Warrants if at the time of the redemption such Private Placement
                                                                                                                Warrants or Working Capital Warrants continue to be held by the Sponsor,  Phoenix or any of their respective Permitted
                                                                                                                Transferees, as applicable. However, once such Private Placement Warrants or Working Capital Warrants are transferred (other
                                                                                                                than to Permitted Transferees under Section 2.6), the Company may redeem the Private Placement Warrants and the
                                                                                                                Working Capital Warrants pursuant to Section 6.1 or 6.2 hereof, provided that the criteria for redemption are
                                                                                                                met, including the opportunity of the holder of such Private Placement Warrants or Working Capital Warrants to exercise the
                                                                                                                Private Placement Warrants and the Working Capital Warrants prior to redemption pursuant to Section 6.4. Private
                                                                                                                Placement Warrants and Working Capital Warrants that are transferred to persons other than Permitted Transferees shall upon
                                                                                                                such transfer cease to be Private Placement Warrants or Working Capital Warrants and shall become Public Warrants under this
                                                                                                                Agreement.

 

7. Other Provisions
Relating to Rights of Holders of Warrants.

 

7.1 No Rights as Shareholder.
A Warrant does not entitle the Registered Holder thereof to any of the rights of a shareholder of the Company, including, without
limitation, the right to receive dividends, or other distributions, exercise any preemptive rights to vote or to consent or to
receive notice as shareholders in respect of the general meeting or the appointment of directors of the Company or any other matter.

 

7.2 Lost, Stolen,
Mutilated, or Destroyed Warrants. If any Warrant is lost, stolen, mutilated, or destroyed, the Company and the Warrant Agent
may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a mutilated
Warrant, include the surrender thereof), issue a new Warrant of like denomination, tenor, and date as the Warrant so lost, stolen,
mutilated, or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company, whether or not
the allegedly lost, stolen, mutilated, or destroyed Warrant shall be at any time enforceable by anyone.

 

    11 

     

    

 

7.3 Reservation of
Ordinary Shares. The Company shall at all times reserve and keep available a number of its authorized but unissued Ordinary
Shares that shall be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement.

 

7.4 Registration of
Ordinary Shares; Cashless Exercise at Company’s Option.

 

7.4.1 Registration
of the Ordinary Shares. The Company agrees that as soon as practicable, but in no event later than fifteen (15) Business Days
after the closing of its initial Business Combination, it shall use its commercially reasonable efforts to file with the Commission
a registration statement registering, under the Securities Act, the issuance of the Ordinary Shares issuable upon exercise of the
Warrants. The Company shall use its commercially reasonable efforts to cause the same to become effective and to maintain the effectiveness
of such registration statement, and a current prospectus relating thereto, until the expiration or redemption of the Warrants in
accordance with the provisions of this Agreement. If any such registration statement has not been declared effective by the 60th
Business Day following the closing of the Business Combination, holders of the Warrants shall have the right, during the period
beginning on the 61st Business Day after the closing of the Business Combination and ending upon such registration statement being
declared effective by the Commission, and during any other period when the Company shall fail to have maintained an effective registration
statement covering the Ordinary Shares issuable upon exercise of the Warrants, to exercise such Warrants on a “cashless basis,”
pursuant to subsection 3.3.1, by exchanging the Warrants (in accordance with Section 3(a)(9) of the Securities Act (or any
successor rule) or another exemption) for that number of Ordinary Shares equal to the lesser of (A) quotient obtained by dividing
(x) the product of the number of Ordinary Shares underlying the Warrants, multiplied by the excess of the “Fair Market Value”
(as defined below) over the Warrant Price by (y) the Fair Market Value and (B) 0.361. Solely for purposes of this subsection
7.4.1, “Fair Market Value” shall mean the volume weighted average price of the Ordinary Shares for the ten (10)
trading day period ending on the trading day prior to the date that notice of exercise is received by the Warrant Agent from the
holder of such Warrants or its securities broker or intermediary. The date that notice of cashless exercise is received by the
Warrant Agent shall be conclusively determined by the Warrant Agent. In connection with the “cashless exercise” of
a Public Warrant, the Company shall, upon request, provide the Warrant Agent with an opinion of counsel for the Company (which
shall be an outside law firm with securities law experience) stating that (i) the exercise of the Warrants on a cashless basis
in accordance with this subsection 7.4.1 is not required to be registered under the Securities Act and (ii) the Ordinary
Shares issued upon such exercise shall be freely tradable under United States federal securities laws by anyone who is not an affiliate
(as such term is defined in Rule 144 under the Securities Act (or any successor rule)) of the Company and, accordingly, shall not
be required to bear a restrictive legend. Except as provided in subsection 7.4.2, for the avoidance of any doubt, unless
and until all of the Warrants have been exercised or have expired, the Company shall continue to be obligated to comply with its
registration obligations under the first three sentences of this subsection 7.4.1.

 

7.4.2 Cashless
Exercise at Company’s Option. If the Ordinary Shares are at the time of any exercise of a Warrant not listed on a national
securities exchange such that they satisfy the definition of “covered securities” under Section 18(b)(1) of the Securities
Act (or any successor rule), the Company may, at its option, require holders of Public Warrants who exercise Public Warrants to
exercise such Public Warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act (or any
successor rule) as described in subsection 7.4.1 and (i) in the event the Company so elects, the Company shall not be required
to file or maintain in effect a registration statement for the registration, under the Securities Act, of the Ordinary Shares issuable
upon exercise of the Warrants, notwithstanding anything in this Agreement to the contrary or (ii) if the Company does not so elect,
the Company agrees to use its commercially reasonable efforts to register or qualify for sale the Ordinary Shares issuable upon
exercise of the Public Warrants under the blue sky laws of the state of residence of the exercising Public Warrant holder to the
extent an exemption is not available.

 

8. Concerning the
Warrant Agent and Other Matters.

 

8.1 Payment of Taxes.
The Company shall from time to time promptly pay all taxes and charges that may be imposed upon the Company or the Warrant Agent
in respect of the issuance or delivery of Ordinary Shares upon the exercise of the Warrants, but the Company shall not be obligated
to pay any transfer taxes in respect of the Warrants or such Ordinary Shares.

 

8.2 Resignation, Consolidation,
or Merger of Warrant Agent.

 

    12 

     

    

 

8.2.1 Appointment
of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its duties and be discharged
from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the
office of the Warrant Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing
a successor Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment within a period of
thirty (30) days after it has been notified in writing of such resignation or incapacity by the Warrant Agent or by the holder
of a Warrant (who shall, with such notice, submit his, her or its Warrant for inspection by the Company), then the holder of any
Warrant may apply to the Supreme Court of the State of New York for the County of New York for the appointment of a successor Warrant
Agent at the Company’s cost. Any successor Warrant Agent, whether appointed by the Company or by such court, shall be a corporation
organized and existing under the laws of the State of New York, in good standing and having its principal office in the Borough
of Manhattan, City and State of New York, and authorized under such laws to exercise corporate trust powers and subject to supervision
or examination by federal or state authority. After appointment, any successor Warrant Agent shall be vested with all the authority,
powers, rights, immunities, duties, and obligations of its predecessor Warrant Agent with like effect as if originally named as
Warrant Agent hereunder, without any further act or deed; but if for any reason it becomes necessary or appropriate, the predecessor
Warrant Agent shall execute and deliver, at the expense of the Company, an instrument transferring to such successor Warrant Agent
all the authority, powers, and rights of such predecessor Warrant Agent hereunder; and upon request of any successor Warrant Agent
the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for more fully and effectually vesting
in and confirming to such successor Warrant Agent all such authority, powers, rights, immunities, duties, and obligations.

 

8.2.2 Notice of
Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give notice thereof to
the predecessor Warrant Agent and the Transfer Agent for the Ordinary Shares not later than the effective date of any such appointment.

 

8.2.3 Merger or
Consolidation of Warrant Agent. Any corporation into which the Warrant Agent may be merged or with which it may be consolidated
or any corporation resulting from any merger or consolidation to which the Warrant Agent shall be a party shall be the successor
Warrant Agent under this Agreement without any further act.

 

8.3 Fees and Expenses
of Warrant Agent.

 

8.3.1 Remuneration.
The Company agrees to pay the Warrant Agent reasonable remuneration for its services as such Warrant Agent hereunder and shall,
pursuant to its obligations under this Agreement, reimburse the Warrant Agent upon demand for all expenditures that the Warrant
Agent may reasonably incur in the execution of its duties hereunder.

 

8.3.2 Further Assurances.
The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed, acknowledged, and delivered
all such further and other acts, instruments, and assurances as may reasonably be required by the Warrant Agent for the carrying
out or performing of the provisions of this Agreement.

 

8.4 Liability of Warrant
Agent.

 

8.4.1 Reliance
on Company Statement. Whenever in the performance of its duties under this Agreement, the Warrant Agent shall deem it necessary
or desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder,
such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively
proved and established by a statement signed by the Chief Executive Officer, Chief Financial Officer, President, Executive Vice
President, Vice President, Secretary or Chairman of the Board of the Company and delivered to the Warrant Agent. The Warrant Agent
may rely upon such statement for any action taken or suffered in good faith by it pursuant to the provisions of this Agreement.

 

8.4.2 Indemnity.
The Warrant Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith. The Company agrees
to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, costs and reasonable
counsel fees, for anything done or omitted by the Warrant Agent in the execution of this Agreement, except as a result of the Warrant
Agent’s gross negligence, willful misconduct or bad faith.

 

    13 

     

    

 

8.4.3 Exclusions.
The Warrant Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the validity or
execution of any Warrant (except its countersignature thereof). The Warrant Agent shall not be responsible for any breach by the
Company of any covenant or condition contained in this Agreement or in any Warrant. The Warrant Agent shall not be responsible
to make any adjustments required under the provisions of Section 4 hereof or responsible for the manner, method, or amount
of any such adjustment or the ascertaining of the existence of facts that would require any such adjustment; nor shall it by any
act hereunder be deemed to make any representation or warranty as to the authorization or reservation of any Ordinary Shares to
be issued pursuant to this Agreement or any Warrant or as to whether any Ordinary Shares shall, when issued, be valid and fully
paid and non-assessable.

 

8.5 Acceptance of
Agency. The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the terms
and conditions herein set forth and among other things, shall account promptly to the Company with respect to Warrants exercised
and concurrently account for, and pay to the Company, all monies received by the Warrant Agent for the purchase of Ordinary Shares
through the exercise of the Warrants.

 

8.6 Waiver. The
Warrant Agent has no right of set-off or any other right, title, interest or claim of any kind (“Claim”)
in, or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of
the date hereof, by and between the Company and the Warrant Agent as trustee thereunder) and hereby agrees not to seek recourse,
reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever. The Warrant Agent hereby
waives any and all Claims against the Trust Account and any and all rights to seek access to the Trust Account.

 

9. Miscellaneous
Provisions.

 

9.1 Successors.
All the covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind and inure
to the benefit of their respective successors and assigns.

 

9.2 Notices. Any
notice, statement or demand authorized by this Agreement to be given or made by the Warrant Agent or by the holder of any Warrant
to or on the Company shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail
or private courier service within five (5) days after deposit of such notice, postage prepaid, addressed (until another address
is filed in writing by the Company with the Warrant Agent), as follows:

 

10 E 53rd St

New York, NY 10022

Attention: J. Douglas Smith

 

Any notice, statement or demand authorized
by this Agreement to be given or made by the holder of any Warrant or by the Company to or on the Warrant Agent shall be sufficiently
given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five (5)
days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Warrant Agent with
the Company), as follows:

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attention: Compliance Department

 

in each case, with a copy to:

 

Davis Polk &
Wardwell LLP

450 Lexington Avenue

New York, NY 10017 

Attn: Derek J. Dostal,
Esq.

Email: derek.dostal@davispolk.com

 

and

 

BofA Securities, Inc.

One Bryant Park

New York, New York 10036

Attn: ECM Legal

Fax: (212) 230-8730

 

    14 

     

    

and

 

Barclays Capital Inc.

745 Seventh Avenue

New York, New York 10019

Attn: Syndicate Registration

Fax: (646) 834-8133

 

9.3 Applicable Law
and Exclusive Forum. The validity, interpretation, and performance of this Agreement and of the Warrants shall be governed
in all respects by the laws of the State of New York, without giving effect to conflicts of law principles that would result in
the application of the substantive laws of another jurisdiction. The Company hereby agrees that any action, proceeding or claim
against it arising out of or relating in any way to this Agreement shall be brought and enforced in the courts of the State of
New York or the United States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction,
which jurisdiction shall be the exclusive forum for any such action, proceeding or claim. The Company hereby waives any objection
to such exclusive jurisdiction and that such courts represent an inconvenient forum. Notwithstanding the foregoing, the provisions
of this paragraph will not apply to suits brought to enforce any liability or duty created by the Exchange Act or any other claim
for which the federal district courts of the United States of America are the sole and exclusive forum.

 

9.4 Persons Having
Rights under this Agreement. Nothing in this Agreement shall be construed to confer upon, or give to, any person or corporation
other than the parties hereto and the Registered Holders of the Warrants any right, remedy, or claim under or by reason of this
Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. All covenants, conditions, stipulations, promises,
and agreements contained in this Agreement shall be for the sole and exclusive benefit of the parties hereto and their successors
and assigns and of the Registered Holders of the Warrants.

 

9.5 Examination of
the Warrant Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the Warrant Agent
in the Borough of Manhattan, City and State of New York, for inspection by the Registered Holder of any Warrant. The Warrant Agent
may require any such holder to submit such holder’s Warrant for inspection by the Warrant Agent.

 

9.6 Counterparts; Electronic Signatures.
This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all
purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. A signature to this Agreement transmitted electronically shall have the same authority, effect and enforceability as an original signature.

 

9.7 Effect of Headings.
The section headings herein are for convenience only and are not part of this Agreement and shall not affect the interpretation
thereof.

 

9.8 Amendments.
This Agreement may be amended by the parties hereto without the consent of any Registered Holder (i) for the purpose of curing any
ambiguity, or curing, correcting or supplementing any defective provision contained herein or adding or changing any other
provisions with respect to matters or questions arising under this Agreement as the parties may deem necessary or desirable and that
the parties deem shall not adversely affect the interest of the Registered Holders, (ii) to provide for the delivery of an
Alternative Issuance pursuant to Section 4.4 and (iii) to make any amendments that are necessary in the good faith determination of
the Company’s board of directors (taking into account then existing market precedents) to allow for the Warrants to be
classified as equity in the Company’s financial statements. All other modifications or amendments, including any modification
or amendment to increase the Warrant Price or shorten the Exercise Period shall require the vote or written consent of the
Registered Holders of at least a majority of the number of the then outstanding Public Warrants and, solely with respect to any
amendment to the terms of the Private Placement Warrants or Working Capital Warrants or any provision of this Agreement with respect
to the Private Placement Warrants or Working Capital Warrants, at least a majority of the number of then outstanding Private
Placement Warrants and Working Capital Warrants. Notwithstanding the foregoing, the Company may lower the Warrant Price or extend
the duration of the Exercise Period pursuant to Sections 3.1 and 3.2, respectively, or make any amendment necessary in
the good faith determination of the Company’s board of directors (taking into account then existing market precedents) to
allow for the Warrants to be classified as equity in the Company’s financial statements, in each case, without the consent of
the Registered Holders.

 

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

 

[Signature Page Follows]

 

    15 

     

    

 

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

 

	 	VALOR LATITUDE ACQUISITION CORP.
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	
        CONTINENTAL STOCK TRANSFER &

        TRUST COMPANY, as Warrant Agent

         

	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

 

[Signature Page to Warrant Agreement]

 

     

     

    

 

EXHIBIT A

 

LEGEND

 
THE SECURITIES REPRESENTED BY THIS CERTIFICATE
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD,
TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND ANY APPLICABLE STATE SECURITIES
LAWS OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, SUBJECT TO ANY ADDITIONAL LIMITATIONS ON TRANSFER DESCRIBED IN
THE AGREEMENTS BY AND AMONG VALOR LATITUDE ACQUISITION CORP. (THE “COMPANY”), VALOR LATITUDE LLC, PHOENIX SPAC HOLDCO,
LLC AND THE OTHER SIGNATORIES THERETO, OR AS DESCRIBED IN THE SUBSCRIPTION AGREEMENT BETWEEN THE COMPANY AND PHOENIX SPAC HOLDCO,
LLC, THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD OR TRANSFERRED PRIOR TO THE DATE THAT IS THIRTY (30) DAYS AFTER
THE DATE UPON WHICH THE COMPANY COMPLETES ITS INITIAL BUSINESS COMBINATION (AS DEFINED IN SECTION 3 OF THE WARRANT AGREEMENT REFERRED
TO HEREIN) EXCEPT TO A PERMITTED TRANSFEREE (AS DEFINED IN SECTION 2 OF THE WARRANT AGREEMENT) WHO AGREES IN WRITING WITH THE COMPANY
TO BE SUBJECT TO SUCH TRANSFER PROVISIONS.

 

SECURITIES EVIDENCED BY THIS CERTIFICATE
AND CLASS A ORDINARY SHARES OF THE COMPANY ISSUED UPON EXERCISE OF SUCH SECURITIES SHALL BE ENTITLED TO REGISTRATION RIGHTS UNDER
A REGISTRATION RIGHTS AGREEMENT TO BE EXECUTED BY THE COMPANY.

 

     

     

    

 

EXHIBIT B

 

[Form of Warrant Certificate]

 

[FACE]

 

Number

 

Warrants

 

THIS WARRANT SHALL BE VOID IF NOT EXERCISED
PRIOR TO

THE EXPIRATION OF THE EXERCISE PERIOD PROVIDED FOR IN THE

WARRANT AGREEMENT DESCRIBED BELOW

 

VALOR LATITUDE ACQUISITION CORP.

Incorporated Under the Laws of the Cayman
Islands

 

CUSIP [●]

 

Warrant Certificate

 

This Warrant Certificate
certifies that         , or registered assigns, is the registered holder of       
warrants evidenced hereby (the “Warrants” and each, a “Warrant”) to purchase Class A Ordinary
Shares, $0.0001 par value per share (the “Ordinary Shares”), of Valor Latitude Acquisition Corp., a Cayman Islands
exempted company (the “Company”). Each Warrant entitles the holder, upon exercise during the Exercise Period
set forth in the Warrant Agreement referred to below, to receive from the Company that number of fully paid and non-assessable
Ordinary Shares as set forth below, at the exercise price (the “Warrant Price”) as determined pursuant to the
Warrant Agreement, payable in lawful money (or through “cashless exercise” as provided for in the Warrant Agreement)
of the United States of America upon surrender of this Warrant Certificate and payment of the Warrant Price at the office or agency
of the Warrant Agent referred to below, subject to the conditions set forth herein and in the Warrant Agreement. Defined terms
used in this Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant Agreement.

 

Each whole Warrant
is initially exercisable for one fully paid and non-assessable Ordinary Share. No fractional shares will be issued upon exercise
of any Warrant. If, upon the exercise of Warrants, a holder would be entitled to receive a fractional interest in an Ordinary Share,
the Company will, upon exercise, round down to the nearest whole number the number of Ordinary Shares to be issued to the Warrant
holder. The number of Ordinary Shares issuable upon exercise of the Warrants is subject to adjustment upon the occurrence of certain
events set forth in the Warrant Agreement.

 

The initial Warrant
Price per Ordinary Share for any Warrant is equal to $11.50 per share. The Warrant Price is subject to adjustment upon the occurrence
of certain events set forth in the Warrant Agreement.

 

Subject to the conditions
set forth in the Warrant Agreement, the Warrants may be exercised only during the Exercise Period and to the extent not exercised
by the end of such Exercise Period, such Warrants shall become void.

 

Reference is hereby
made to the further provisions of this Warrant Certificate set forth on the reverse hereof and such further provisions shall for
all purposes have the same effect as though fully set forth at this place.

 

This Warrant Certificate
shall not be valid unless countersigned by the Warrant Agent, as such term is used in the Warrant Agreement.

 

This Warrant Certificate
shall be governed by and construed in accordance with the internal laws of the State of New York.

 

     

     

    

 

	 	VALOR LATITUDE ACQUISITION CORP.
	 	 	 	 
	 	By:	 
	 	 	Name: 	 
	 	 	Title: 	 
	 	 	 	 
	 	
        CONTINENTAL STOCK TRANSFER & TRUST

	 	COMPANY as Warrant Agent
	 	 	 	 
	 	By:	 
	 	 	Name: 	 
	 	 	Title: 	 

 

     

     

    

 

[Form of Warrant Certificate]

 

[Reverse]

 

The Warrants evidenced
by this Warrant Certificate are part of a duly authorized issue of Warrants entitling the holder on exercise to receive Ordinary
Shares and are issued or to be issued pursuant to a Warrant Agreement dated as of [●], 2021 (the “Warrant Agreement”),
duly executed and delivered by the Company to Continental Stock Transfer & Trust Company, a New York corporation, as warrant
agent (the “Warrant Agent”), which Warrant Agreement is hereby incorporated by reference in and made a part
of this instrument and is hereby referred to for a description of the rights, limitation of rights, obligations, duties and immunities
thereunder of the Warrant Agent, the Company and the holders (the words “holders” or “holder”
meaning the Registered Holders or Registered Holder, respectively) of the Warrants. A copy of the Warrant Agreement may be obtained
by the holder hereof upon written request to the Company. Defined terms used in this Warrant Certificate but not defined herein
shall have the meanings given to them in the Warrant Agreement.

 

Warrants may be exercised
at any time during the Exercise Period set forth in the Warrant Agreement. The holder of Warrants evidenced by this Warrant Certificate
may exercise them by surrendering this Warrant Certificate, with the form of election to purchase set forth hereon properly completed
and executed, together with payment of the Warrant Price as specified in the Warrant Agreement (or through “cashless exercise”
as provided for in the Warrant Agreement) at the principal corporate trust office of the Warrant Agent. In the event that upon
any exercise of Warrants evidenced hereby the number of Warrants exercised shall be less than the total number of Warrants evidenced
hereby, there shall be issued to the holder hereof or his, her or its assignee, a new Warrant Certificate evidencing the number
of Warrants not exercised.

 

Notwithstanding anything
else in this Warrant Certificate or the Warrant Agreement, no Warrant may be exercised unless at the time of exercise (i) a registration
statement covering the Ordinary Shares to be issued upon exercise is effective under the Securities Act of 1933, as amended, and
(ii) a prospectus thereunder relating to the Ordinary Shares is current, except through “cashless exercise” as provided
for in the Warrant Agreement.

 

The Warrant Agreement
provides that upon the occurrence of certain events the number of Ordinary Shares issuable upon the exercise of the Warrants set
forth on the face hereof may, subject to certain conditions, be adjusted. If, upon exercise of a Warrant, the holder thereof would
be entitled to receive a fractional interest in an Ordinary Share, the Company shall, upon exercise, round down to the nearest
whole number of Ordinary Shares to be issued to the holder of the Warrant.

 

Warrant Certificates,
when surrendered at the principal corporate trust office of the Warrant Agent by the Registered Holder thereof in person or by
legal representative or attorney duly authorized in writing, may be exchanged, in the manner and subject to the limitations provided
in the Warrant Agreement, but without payment of any service charge, for another Warrant Certificate or Warrant Certificates of
like tenor evidencing in the aggregate a like number of Warrants.

 

Upon due presentation
for registration of transfer of this Warrant Certificate at the office of the Warrant Agent, a new Warrant Certificate or Warrant
Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s) in exchange
for this Warrant Certificate, subject to the limitations provided in the Warrant Agreement, without charge except for any tax or
other governmental charge imposed in connection therewith.

 

The Company and the
Warrant Agent may deem and treat the Registered Holder(s) hereof as the absolute owner(s) of this Warrant Certificate (notwithstanding
any notation of ownership or other writing hereon made by anyone), for the purpose of any exercise hereof, of any distribution
to the holder(s) hereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice
to the contrary. Neither the Warrants nor this Warrant Certificate entitles any holder hereof to any rights of a shareholder of
the Company.

 

     

     

    

 

Election to Purchase

 

(To Be Executed Upon Exercise of Warrant)

 

The undersigned hereby
irrevocably elects to exercise the right, represented by this Warrant Certificate, to receive ______________
Ordinary Shares and herewith tenders payment for such Ordinary Shares to the order of Valor Latitude Acquisition Corp. (the “Company”)
in the amount of $           in accordance with the terms hereof. The undersigned
requests that a certificate for such Ordinary Shares be registered in the name of            whose
address is                  and that such
Ordinary Shares be delivered to                   
whose address is                 . If said number
of shares is less than all of the Ordinary Shares purchasable hereunder, the undersigned requests that a new Warrant Certificate
representing the remaining balance of such Ordinary Shares be registered in the name of                  ,
whose address is             and that such Warrant Certificate be delivered
to            , whose address is                
..

 

In the event that the
Warrant has been called for redemption by the Company pursuant to Section 6 of the Warrant Agreement and the Company has
required cashless exercise pursuant to Section 6.2 of the Warrant Agreement, the number of Ordinary Shares that this Warrant
is exercisable for shall be determined in accordance with subsection 3.3.1 and Section 6.3 of the Warrant Agreement.

 

In the event that the
Warrant is a Private Placement Warrant that is to be exercised on a “cashless” basis pursuant to subsection 3.3.1(c)
of the Warrant Agreement, the number of Ordinary Shares that this Warrant is exercisable for shall be determined in accordance
with subsection 3.3.1(c) of the Warrant Agreement.

 

In the event that the
Warrant is to be exercised on a “cashless” basis pursuant to Section 7.4 of the Warrant Agreement, the number
of Ordinary Shares that this Warrant is exercisable for shall be determined in accordance with Section 7.4 of the Warrant
Agreement.

 

In the event that the
Warrant may be exercised, to the extent allowed by the Warrant Agreement, through cashless exercise (i) the number of Ordinary
Shares that this Warrant is exercisable for would be determined in accordance with the relevant section of the Warrant Agreement
which allows for such cashless exercise and (ii) the holder hereof shall complete the following: The undersigned hereby irrevocably
elects to exercise the right, represented by this Warrant Certificate, through the cashless exercise provisions of the Warrant
Agreement, to receive Ordinary Shares. If said number of shares is less than all of the Ordinary Shares purchasable hereunder (after
giving effect to the cashless exercise), the undersigned requests that a new Warrant Certificate representing the remaining balance
of such Ordinary Shares be registered in the name of              ,
whose address is                 and that such
Warrant Certificate be delivered to                ,
whose address is               .

 

[Signature Page Follows]

 

     

     

    

 

	Date:                          ,           	 
	 	(Signature)
	 	 
	 	(Address)
	 	 
	 	(Tax Identification Number)

 

	Signature Guaranteed:	 
	 	 
	 	 

 

THE SIGNATURE(S) SHOULD BE GUARANTEED BY
AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED
SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO SEC RULE 17Ad-15 UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED (OR ANY
SUCCESSOR RULE)).Exhibit
4.62

 
Private & Confidential

 
Certain identified information, marked
by [******], has been excluded from this exhibit because 

it is both not material and is the type that the registrant treats
as private or confidential.

 

EXCLUSIVE
LICENCE AGREEMENT

 

This
Exclusive License Agreement (this “Agreement”) is made the 25th day of September 2020 between

 

ACCELERATE
TECHNOLOGIES PTE LTD (Co. Reg. No. 199503187D), a company incorporated in Singapore and having its place of business at 1
Fusionopolis Way, #19-10 Connexis North, Singapore 138632 (hereinafter referred to as “A*CCELERATE”);

 

and

 

LICENSEE,
full details of which are set out in Schedule 1.

 

A*CCELERATE
and LICENSEE shall be individually referred to as a “Party” and collectively as “Parties.”

 

RECITAL

 

		A.	A*CCELERATE
                                         has the right to license the Technology and is entitled to grant the rights under this
                                         Agreement.

 

		B.	LICENSEE
                                         wishes to acquire rights to license, and further develop and commercialize the Licensed
                                         Technology in the Field and in the Territory and subject to the terms and conditions
                                         herein.

 

NOW
THEREFORE, in consideration of the mutual covenants and conditions set forth herein, A*CCELERATE and LICENSEE hereby agree as
follows:-

 

		1.	DEFINITIONS

 

“Affiliates”
means (i) an organisation, which directly or indirectly controls a Party; or (ii) an organisation which is directly or indirectly
controlled by a Party; or (iii) an organisation, which is controlled, directly or indirectly, by the ultimate parent company of
a Party. The term “control” as used herein means the possession of the power to direct or cause the direction of the
management and the policies of an entity, whether through the ownership of a majority of the outstanding voting security or by
contract or otherwise.

 

“Completion
of Phase 1” has the meaning given to it in Schedule 1 of this Agreement.

 

“Completion
of Phase 2” has the meaning given to it in Schedule 1 of this Agreement.

 

“Completion
of Phase 3” has the meaning given to it in Schedule 1 of this Agreement.

 

“Company-A*STAR
RI Funding Agreement” means the “Company-A*STAR RI Funding Agreement for Partial Research Sponsorship” entered
into on or around the date of this Agreement by and among the LICENSEE, IBN and IMCB.

 

“Confidential
Information” means all information of A*CCELERATE’s Affiliates, including prototypes and samples, which may be
disclosed to LICENSEE at any time and from time to time during the Term of this Agreement, which may be identified or designated
by A*CCELERATE as proprietary, confidential or secret and includes information which by its nature should be proprietary, confidential
or secret. The specific terms and conditions of this Agreement shall be deemed to be Confidential Information. Confidential Information
shall not include any information or material that is: (i) already in the possession of LICENSEE without prior restriction; (ii)
independently developed by LICENSEE; (iii) publicly disclosed by A*CCELERATE; (iv) rightfully received by LICENSEE from a third
party; (v) approved for release by written agreement with A*CCELERATE or (vi) made available by A*CCELERATE to others without
restriction.

 

“Documentation”
means any user guides, instruction manuals and other documents whether in written or machine-readable form relating to the
Licensed Technology.

 

     

     

    

 

“Effective
Date” has the meaning given to it in Schedule 1 of this Agreement.

 

“Enhancements”
means all new versions of, modifications, additions, improvements, upgrades and development to the Licensed Technology developed
by LICENSEE or its Affiliates.

 

“Field”
has the meaning given to it in Schedule 1 of this Agreement.

 

“First
Closing Date” has the meaning given to it in the Share Subscription & Shareholders Agreement.

 

“Intellectual
Property” means know-how and intellectual property rights (including without limitation patents, copyrights, designs,
trade secrets, and rights in Confidential Information) worldwide arising under statutory or common law, and whether or not perfected,
and any applications of the foregoing.

 

“Licensed
Know-how” has the meaning given to it in Schedule 1 of this Agreement.

 

“Licensed
Patents” has the meaning given to it in Schedule 1 of this Agreement.

 

“Licensed
Products” has the meaning given to it in Schedule 1 of this Agreement.

 

“Licensed
Technology” has the meaning given to it in Schedule 1 of this Agreement.

 

“New
A*STAR RI IP” means new Intellectual Property created, discovered, developed, conceived or reduced to practice individually
by [***]

 

“Project
Results” has the meaning given to it in the Company-A*STAR RI Funding Agreement.

 

“Sales
Report” means the sales report as set out in Schedule 2 to be submitted by LICENSEE to A*CCELERATE pursuant to this
Agreement.

 

“Share
Subscription & Shareholders Agreement” means the “Share Subscription & Shareholders Agreement” entered
into on or around the date of this Agreement by and among Accelerate Technologies Pte Ltd, Aptorum Innovations Holding Limited,
LICENSEE and certain A*STAR RI scientists.

 

“Term”
has the meaning given to it in Schedule 1 of this Agreement.

 

“Territory”
has the meaning given to it in Schedule 1 of this Agreement.

 

	2.	GRANT

 

		2.1	A*CCELERATE
                                         hereby grant to LICENSEE an exclusive sublicensable (only in accordance with this Clause
                                         2), non-transferable, royalty-free, irrevocable (except when this Agreement is terminated
                                         pursuant to Clause 9) licence to use the Licensed Technology within the Field for the
                                         Term and in the Territory to develop Enhancements and use, make, manufacture, have made,
                                         distribute, market and sell Licensed Products.

 

		2.2	It
                                         is agreed that A*CCELEREATE shall retain the right to use, and to allow their Affiliates
                                         to use the Licensed Technology for the purposes of internal, non-commercial use, and
                                         for research and development. All further developments made by A*CCELERATE or its Affiliates
                                         through such use shall belong to them (or their nominee). For the avoidance of doubt,
                                         all Enhancements shall belong solely to LICENSEE.

 

		2.3	A*CCELERATE
                                         shall not be obliged to render any technical assistance, maintenance or support services
                                         to LICENSEE in respect of the Licensed Technology or otherwise under this Agreement.

 

    2

     

    

 

		2.4	In
                                         order to maintain the licence granted hereunder in force, LICENSEE shall use its best
                                         efforts and diligence to implement the Licensed Technology into commercially viable Licensed
                                         Products. Specifically, LICENSEE shall comply with the Commercial Obligations as listed
                                         in Schedule 1.

 

		2.5	LICENSEE
                                         shall be entitled to grant sub-licences of the rights granted under this Agreement to
                                         third-party entities contracted directly by LICENSEE provided that:

 

		2.5.1	the
                                         sub-licence granted by LICENSEE shall be expressed to terminate automatically upon the
                                         termination of the Agreement for any reason, and shall not permit further sub-licensing;

 

		2.5.2	LICENSEE
                                         shall procure that the sub-licensee shall enter into a confidentiality undertaking with
                                         LICENSEE with respect to any Confidential Information of A*CCELERATE disclosed pursuant
                                         to this Agreement on terms no less stringent than those contained in this Agreement;

 

		2.5.3	LICENSEE
                                         shall at all times indemnify and keep A*CCELERATE indemnified against all or any costs,
                                         claims, damages or expenses incurred by A*CCELERATE or A*CCELERATE’s Affiliates
                                         or for which A*CCELERATE or A*CCELERATE’s Affiliates may become liable as a result
                                         of the sub-licensee’s breach of the terms of the sub-licence or any other default;

 

		2.5.4	The
                                         LICENSEE shall pay A*CCELERATE [***]

 

		2.5.5	A
                                         copy of the executed sub-licence shall be provided to A*CCELERATE within thirty (30)
                                         days of such execution.

 

		2.6	In
                                         addition, for the avoidance of doubt, this Clause 2.5 shall not apply to assignments
                                         under Clause 11.1, end-user licence agreements or agreements authorising third parties
                                         (such as LICENSEE’s agents and distributors) to exercise the rights to the Licensed
                                         Technology on the LICENSEE’s behalf.

 

	3.	FINANCIAL
TERMS

 

		3.1	In
                                         consideration of the rights granted pursuant to Clause 2 above, LICENSEE shall provide
                                         to A*CCELERATE the Consideration stated in Schedule 1.

 

		3.2	Time
                                         of payment shall be of the essence. If LICENSEE fails to make any payment due to A*CCELERATE
                                         under this Agreement and in accordance with the payment terms set forth in Schedule 1,
                                         A*CCELERATE shall have the right to:

 

		3.2.1	forthwith
suspend or terminate the Licence hereby granted to LICENSEE; and

 

		3.2.2	charge
                                         LICENSEE, in respect of any and all overdue payments, interest at the rate of three percent
                                         (3%) per annum above the annual prime lending rate of the Development Bank of Singapore
                                         from such date until said amount is paid in full to A*CCELERATE.

 

	4.	ACCOUNTS

 

		4.1	LICENSEE
                                         shall keep true and accurate accounts and records in sufficient detail to enable the
                                         amount of all sums payable under this Agreement to be determined. A*CCELERATE has the
                                         right to request for LICENSEE to submit details of its accounts and records to support
                                         the information provided in the Sales Report.

 

		4.2	A*CCELERATE
                                         may, annually and at its own cost, appoint an independent auditor to examine LICENSEE’s
                                         books and records to verify LICENSEE’s fulfilment of its obligations under this
                                         Agreement. Notwithstanding the foregoing, the cost of such audit conducted shall be borne
                                         in full by LICENSEE if any discrepancy exceeding five percent (5%) is found.

 

		4.3	The
                                         provisions of this Clause 4 shall remain in full force and effect after the termination
                                         of this Agreement for any reasons until the settlement of all subsisting claims of A*CCELERATE
                                         under this Agreement.

 

    3

     

    

 

		5.	RIGHTS
                                         IN INTELLECTUAL PROPERTY; IMPROVEMENTS TO THE LICENSED TECHNOLOGY

 

		5.1	LICENSEE
                                         acknowledges that the Licensed Technology may contain Confidential Information of A*CCELERATE
                                         or A*CCELERATE’s Affiliates and LICENSEE shall treat in confidence any such Confidential
                                         Information relating to the Licensed Technology, save for information that is in the
                                         public domain through no fault of its obligations herein.

 

		5.2	LICENSEE
                                         shall take all reasonable steps, including, but not limited to, those steps taken to
                                         protect its own information, data or other tangible or intangible property that it regards
                                         as proprietary or confidential, to ensure that the Confidential Information is not disclosed
                                         or duplicated for the use of any third party, and shall take all reasonable steps to
                                         prevent its officers and employees, or any other persons having access to the Confidential
                                         Information, from disclosing or making unauthorised use of any Confidential Information,
                                         or from committing any acts of omissions that may result in a violation of this Agreement.

 

		5.3	LICENSEE
                                         shall not do anything which might bring into question A*CCELERATE or A*CCELERATE’s
                                         Affiliates’ ownership of the Licensed Technology licensed by A*CCELERATE to LICENSEE
                                         under this Agreement or the validity of such Licensed Technology.

 

		5.4	LICENSEE
                                         shall notify A*CCELERATE in writing as soon as practicable after it becomes aware of-

 

		5.4.1	any
                                         actual, threatened or suspected infringement of any Intellectual Property of A*CCELERATE
                                         in respect of the Licensed Technology or any breach of confidence relating to any of
                                         the foregoing; or

 

		5.4.2	any
                                         claim brought against LICENSEE or any other person alleging that its use of the Licensed
                                         Technology infringes any Intellectual Property or other rights belonging to or alleged
                                         to belong to the claimant.

 

		5.5	Patent
                                         expenses shall be paid for in accordance with the arrangements set out in Schedule 1.

 

		5.6	A*CCELERATE
                                         or their Affiliates shall have the right but not the obligation, at its option and expense,
                                         to prosecute and defend any and all infringements of the Licensed Technology provided
                                         that all damages, costs or other benefits obtained as a result belongs to A*CCELERATE.
                                         Where A*CCELERATE and/or their Affiliates elect to prosecute and/or defend any infringements,
                                         LICENSEE shall give A*CCELERATE all necessary assistance for the defence or prosecution
                                         of the patents. A*CCELERATE may enter into settlements, stipulated judgements, or any
                                         other arrangements respecting such prosecution and/or infringement at their own expense,
                                         and LICENSEE agrees to provide any assistance which A*CCELERATE may require in any litigation,
                                         including the execution of any legal documents.

 

		5.7	As
                                         per Clause 2.2, LICENSEE shall own the Intellectual Property right in any Enhancements,
                                         and shall disclose to A*CCELERATE any and all Enhancements. A*CCELERATE shall provide
                                         all necessary assistance and take such acts as are reasonably requested by LICENSEE,
                                         at LICENSEE’s expense, to enable LICENSEE to obtain patents for or respecting Enhancements,
                                         to protect such patent right.

 

		5.8	A*CCELERATE
                                         shall disclose to LICENSEE any and all improvements made by the researchers at A*STAR
                                         RI (“A*STAR RI Improvements”) that is a new version of, modification,
                                         addition, improvement, upgrade and development to the Licensed Technology during the
                                         Term of this Agreement in a timely manner. For clarity, A*STAR RI Improvements shall
                                         include any and all Project Results under the Company-A*STAR RI Funding Agreement.

 

		5.9	All
                                         A*STAR RI Improvements shall become subject to the license granted in Section 2 above
                                         and form part of the Licensed Technology upon such disclosure to LICENSEE. The Parties
                                         shall update Schedule 1 of this Agreement to incorporate such A*STAR RI Improvements.

 

		5.10	LICENSEE
                                         shall provide any assistance and take such acts as are reasonably requested by A*CCELERATE,
                                         to enable A*CCELERATE to obtain a patent for or respecting any A*STAR RI Improvement,
                                         to protect such patent right.

 

    4

     

    

 

	6.	WARRANTIES

 

		6.1	LICENSEE
                                         warrants that it has full right to enter into this Agreement; that the Licensed Technology
                                         and Documentation shall be used solely by LICENSEE and no other third party and only
                                         for the purposes contemplated by Clause 2 of this Agreement; and that it shall observe
                                         all applicable laws and regulations and obtain all necessary licences, consents and permissions
                                         required in respect of the use of the Licensed Technology and the manufacture, importation,
                                         storage, marketing and sale of the Licensed Products (including the sub-licensing of
                                         the Licensed Products) in the Territory. Save that A*CCELERATE warrant that they have
                                         full right and power to enter into this agreement, A*CCELERATE makes no other warranties
                                         concerning the Licensed Technology, including without limitation, any express or implied
                                         warranty of merchantability or satisfactory quality, fitness for a particular purpose
                                         or as to reliability, accuracy, validity or otherwise of the Licensed Technology. The
                                         Licensed Technology is provided “as is” and A*CCELERATE makes no warranty
                                         or representation as to the validity or scope of the Licensed Technology and that the
                                         Licensed Technology will be free from infringement of patents or other intellectual property
                                         rights of third parties, or that no third parties are in any way infringing the Licensed
                                         Technology covered by this agreement.

 

		6.2	For
the avoidance of doubt, A*CCELERATE makes no representation or warranty that any patent application in respect of the Licensed
Technology will be granted, or that it will file applications in all or any part of the Territory in respect of the Licensed Technology,
or if granted, will be valid.

 

		7.	LIABILITY,
                                         INDEMNITY

 

LICENSEE
shall indemnify A*CCELERATE and A*CCELERATE’s Affiliates for any and all liability, losses, damages, costs and expenses
arising out of (i) any claims relating to the LICENSEE’s use of the Licensed Technology, Documentation and/or Enhancements;
or (ii) breach, negligent performance and/or failure of performance by LICENSEE of the terms of this Agreement, except to the
extent when caused by the gross negligence or willful misconduct of A*CCELERATE. For avoidance of doubt, in no event shall A*CCELERATE
be liable for any incidental, consequential or special damages arising out of or related to this Agreement, including, but not
limited to, loss of business opportunity, lost profits or pure economic loss. Notwithstanding anything to the contrary, A*CCELERATE’s
total and cumulative liability under this Agreement, however arising, shall not exceed the total amount paid to A*CCELERATE by
LICENSEE under this Agreement.

 

	8.	USE
OF NAME

 

		8.1	LICENSEE
                                         shall not use the name, trademark or logo of A*CCELERATE or A*CCELERATE’s Affiliates
                                         in any publicity, promotion, news release or disclosure relating to this Agreement, its
                                         subject matter or the sale of the Licensed Products, without the prior written permission
                                         of A*CCELERATE. Notwithstanding the above, LICENSEE shall be allowed to disclose the
                                         name of the Parties and this Agreement as required by the applicable securities laws
                                         and relevant regulatory authorities.

 

		8.2	LICENSEE
                                         shall use its best efforts to acknowledge the participation and contributions of A*CCELERATE
                                         and A*CCELERATE’s Affiliates in all news releases, promotional, advertising and
                                         marketing material, a copy of which shall be provided to A*CCELERATE for prior written
                                         approval, which shall not be unreasonably withheld.

 

	9.	TERMINATION

 

		9.1	After
                                         [***] from the Effective Date, LICENSEE may request to terminate this Agreement [***]

 

		9.2	A*CCELERATE
                                         shall be entitled to terminate this Agreement forthwith by giving written notice to LICENSEE
                                         if:-

 

		9.2.1	LICENSEE
                                         commits any breach of this Agreement and if the breach is capable of remedy, fails to
                                         remedy it within thirty (30) days after being given a written notice containing full
                                         particulars of the breach and requiring the remedy of the breach; or

 

		9.2.2	An
                                         encumbrances takes possession, or a receiver is appointed, of any of the property or
                                         assets of LICENSEE; or

 

    5

     

    

 

		9.2.3	LICENSEE
                                         makes any voluntary arrangement with its creditors; or

 

		9.2.4	LICENSEE
                                         goes into liquidation (except for the purpose of amalgamation or reconstruction and so
                                         that the resulting LICENSEE effectively agrees to be bound by or assume the obligations
                                         imposed on the LICENSEE under this Agreement); or

 

		9.2.5	LICENSEE
                                         ceases, or threatens to cease, to carry on business; or

 

		9.2.6	LICENSEE
                                         breaches any of the Commercialisation Obligations as listed in Schedule 1.

 

		9.3	Termination
of this Agreement howsoever caused shall be without prejudice to any other right or remedy a Party may be entitled to hereunder
or at law and shall not affect any accrued rights or liabilities of the Parties.

 

		9.4	Upon
                                         the termination of this Agreement:

 

		9.4.1	LICENSEE
                                         shall forthwith cease to market or use, either directly or indirectly, the Licensed Products
                                         or the Licensed Technology or to use any of the Intellectual Property;

 

		9.4.2	LICENSEE
                                         shall destroy or return to A*CCELERATE all copies of the Documentation in its possession
                                         or control; and

 

		9.4.3	LICENSEE
                                         shall promptly pay all amounts due under this Agreement to A*CCELERATE immediately upon
                                         its receipt of the same and shall submit to A*CCELERATE written confirmation signed by
                                         a duly authorised officer that it has complied with such payment obligations, along with
                                         a copy of all materials reasonably necessary to support such statement.

 

		9.5	Clause
                                         5.1, 5.2, 6-8, 9.3, 9.4, 10 and 11 shall survive the termination of this Agreement.

 

	10.	ARBITRATION
AND GOVERNING LAW

 

		10.1	Any
                                         dispute among the parties arising out of or in connection with this Agreement or in the
                                         performance thereof shall in the first instance be referred to the authorised representatives
                                         of the parties for resolution. If such efforts fail, then the dispute shall be referred
                                         to binding arbitration in Singapore in accordance with the Arbitration Rules of the Singapore
                                         International Arbitration Center in force at such time which rules shall be deemed to
                                         be incorporated by reference into this Agreement. The Tribunal shall consist of one (1)
                                         arbitrator chosen by the Singapore International Arbitration Center under its rules if
                                         the parties cannot otherwise agree upon an arbitrator.

 

		10.2	This
                                         Agreement shall be governed by the laws of the Republic of Singapore and each Party agrees
                                         to submit to the non-exclusive jurisdiction of the Singapore courts.

 

		10.3	Notwithstanding
                                         the above, any dispute to the extent relating to the validity, scope, enforceability,
                                         inventorship, or ownership of intellectual property rights (each, a “Non-arbitrable
                                         Dispute”), shall not be subject to resolution by binding arbitration under
                                         Clause 10.1 and instead shall be resolved in a court or governmental agency of competent
                                         jurisdiction.

 

	11.	MISCELLANEOUS

 

		11.1	Assignment.
                                         This Agreement may not be assigned by the LICENSEE to any person without the prior written
                                         consent of A*CCELERATE.

 

		11.2	Entire
                                         Agreement. This Agreement sets forth the entire agreement and understanding between
                                         the parties as to the subject matter herein. There shall be no amendments or modifications
                                         to this Agreement, except by a written document signed by both parties.

 

		11.3	Waiver.
                                         Any delay in enforcing a party’s rights under this Agreement or any waiver as to
                                         a particular default or other matter shall not constitute a waiver of that party’s
                                         rights to the future enforcement of its rights under this Agreement, unless there is
                                         an express written and signed waiver for a particular matter for a particular period
                                         of time.

 

    6

     

    

 

		11.4	Severance.
                                         If any provision of this Agreement is held by any court or other competent authority
                                         to be invalid or unenforceable, in whole or in part, the other provisions of this Agreement
                                         and the remainder of the affected provision shall continue to be valid.

 

		11.5	Injunctive
                                         relief. LICENSEE acknowledges that any breach of this Agreement may cause irreparable
                                         damage to A*CCELERATE or A*CCELERATE’s Affiliates and LICENSEE agrees that A*CCELERATE
                                         or A*CCELERATE’s Affiliates shall be entitled to injunctive relief in addition
                                         to any award by the court in favour of A*CCELERATE or A*CCELERATE’s Affiliates.

 

		11.6	Notices.
                                         Any notices required by this Agreement shall be in writing, shall specifically refer
                                         to this Agreement and shall be sent by registered or certified mail and shall be forwarded
                                         to the respective addresses set forth below unless subsequently changed by written notice
                                         to the other party.

 

To
A*CCELERATE:

 

To
LICENSEE: Refer to Schedule 1

 

		11.7	Contracts
                                         (Rights of Third Parties) Act. Save to give effect to the rights accruing to A*CCELERATE’s
                                         Affiliates under this Agreement, a person who is not a party to this Agreement has no
                                         right under the Contracts (Rights of Third Parties) Act of Singapore (Cap. 53B) or otherwise
                                         to enforce any terms and conditions of this Agreement.

 

		11.8	Novation.
                                         If at any time after the Effective Date the functions and operations of A*CCELERATE are
                                         assigned, merged, transferred into or otherwise forms part of another organisation of
                                         A*STAR (“the New Entity”) such that the New Entity takes over the
                                         whole or substantially the whole of A*CCELERATE’s operations, then it is agreed
                                         that this Agreement may, at the option of A*CCELERATE, be novated to the New Entity which
                                         will then assume all of A*CCELERATE’s rights and obligations hereunder. The Parties
                                         shall enter into a separate novation agreement or other agreement to effectuate the novation.

 

		11.9	Force
Majeure. Neither Party shall be responsible to the other for delay or failure in performance of any of the obligations imposed
by this Agreement, provided such delay or failure shall be occasioned by a cause beyond the control of and without the fault or
negligence of such Party, including fire, flood, explosion, lightning, windstorm, earthquake, subsidence of soil, failure of machinery
or equipment or supply of materials, discontinuity in the supply of power, court order or governmental interference, civil commotion,
epidemic, riot, war, terrorism or terrorist threats, strikes, labor disturbances, transportation difficulties or labor shortage
(“Force Majeure Event”). If the delay or failure in performance persists for more than three (3) months, the
other Party may have the additional right to terminate this Agreement immediately by notice in writing.

 

		12.	USE
                                         OF LICENSED TECHNOLOGY

 

The
Licensed Technology shall be used for commercial and/or civilian purposes only. LICENSEE shall ensure that it complies with all
applicable laws, rules and regulations governing the use, export and disposal of the Licensed Technology and the Licensed Products.

 

		13.	PUBLICATIONS

 

		13.1	A*CCELERATE
shall comply with this Clause 13 with respect to publication of any journal, thesis, or dissertation, or present at any national,
international or professional meeting, the findings, methods and results pertaining to the Licensed Technology (each a “Publication”).

 

		13.2	A*CCELERATE
shall procure that where its Affiliates intend to publish or present (the “Publishing Party”) a Publication,
such Affiliate shall furnish a copy of such Publication to LICENSEE at least 60 days before such publication or presentation and
then LICENSEE, within 30 days of receipt of the Publication, forward its written objections to the Publishing Party if it determines
that its Confidential Information or patentable subject matter may be disclosed. If no written objection is made within the stipulated
time, the Publishing Party shall be free to proceed with the Publication.

 

    7

     

    

 

		13.3	Confidential
Information identified by LICENSEE shall be deleted from the Publication. In the event that the LICENSEE objects to any such publication
or presentation on the basis that the same would disclose patentable subject matter, A*CCELERATE shall procure that the Publishing
Party withhold such publication or presentation for a reasonable period in order for the relevant patent applications to be filed
with respect to such patentable subject matter.

 

	14.	OPTION
TO NEW INTELLECTUAL PROPERTY

 

[***]

 

 

Signature
page to follow

 

    8

     

    

 

IN
WITNESS HEREOF, the parties have executed this Agreement by their duly authorised representatives as of the date set forth
above.

 

	SIGNED by	)	 	 
	Senior Vice President	)	 	 
	for and on behalf of	)	 	 
	ACCELERATE TECHNOLOGIES PTE LTD	)	 	 
	In the presence of 	 	 	 

 

 

 

	Name of Witness:	 
	Designation of Witness:

 

    9

     

    

 

	SIGNED by Clark Cheng	)	 	 
	Director	)	 	 
	for and on behalf of	)	 	 
	APTORUM INNOVATIONS HOLDING PTE LTD	)	 	 
	In the presence of 	 	 	 

 

 

 

	Name of Witness:	 
	Designation of Witness:

 

    10

     

    

 

SCHEDULE
1

 

 

    11

     

    

 

Exhibit
A of Schedule 1

Licensed
Patents

 

 

    12

     

    

 

Exhibit
B of Schedule 1

Licensed
Know-How

 

 

    13

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