Document:

Exhibit 10.1

 

EXECUTION
VERSION

 

SUBSCRIPTION AGREEMENT

 

This SUBSCRIPTION AGREEMENT
(this “Subscription Agreement”) is entered into on September 15, 2020, by and between Social Capital Hedosophia
Holdings Corp. II, a Cayman Islands exempted company (“IPOB”), and the undersigned subscriber (the “Investor”).

 

WHEREAS, this Subscription
Agreement is being entered into in connection with the Agreement and Plan of Merger, dated as of the date hereof (as may be amended,
supplemented or otherwise modified from time to time, the “Transaction Agreement”), by and among IPOB, Opendoor
Labs Inc., a Delaware corporation (the “Company”), Hestia Merger Sub Inc., a Delaware corporation (“IPOB
Merger Sub”), and the other parties thereto, pursuant to which, among other things, IPOB Merger Sub will merge with
and into the Company, with the Company as the surviving company in the merger and, after giving effect to such merger, becoming
a wholly owned subsidiary of IPOB, and IPOB will change its name to “Opendoor Technologies Inc.”, on the terms and
subject to the conditions therein (the “Transaction”);

 

WHEREAS, prior to the
closing of the Transaction (and as more fully described in the Transaction Agreement), IPOB will domesticate as a Delaware
corporation in accordance with Section 388 of the General Corporation Law of the State of Delaware and Part XII of the
Cayman Islands Companies Law (2020 Revision) (the “Domestication”);

 

WHEREAS, in connection
with the Transaction, IPOB is seeking commitments from interested investors to purchase, following the Domestication and prior
to the closing of the Transaction, shares of IPOB’s Class A common stock, par value $0.001 per share, as such shares
will exist as common stock following the Domestication (the “Shares”), in a private placement for a purchase
price of $10.00 per share (the “Per Share Subscription Price”);

 

WHEREAS, the aggregate
purchase price to be paid by the Investor for the subscribed Shares (as set forth on the signature page hereto) is referred
to herein as the “Subscription Amount;” and

 

WHEREAS, substantially
concurrently with the execution of this Subscription Agreement, IPOB is entering into: (a) separate subscription agreements
with certain other investors that are existing directors, officers or equityholders (including, for the avoidance of doubt, holders
of convertible securities) of the Company, IPOB, SCH Sponsor II LLC, a Cayman Islands limited liability company, and/or their
respective affiliates with an aggregate purchase price of $200,050,000 (collectively, the “Insider PIPE Investors”
and, such investment, the “Insider PIPE Investment”); and (b) separate subscription agreements (collectively,
the “Other Subscription Agreements”) with certain investors (other than the Insider PIPE Investors) with an
aggregate purchase price of $400,000,000 (inclusive of the Subscription Amount) (together with the Insider PIPE Investment, the
 “PIPE Investment”).

 

NOW, THEREFORE, in
consideration of the foregoing and the mutual representations, warranties and covenants, and subject to the conditions, set forth
herein, and intending to be legally bound hereby, each of the Investor and IPOB acknowledges and agrees as follows:

 

1.            Subscription.
The Investor hereby irrevocably subscribes for and agrees to purchase from IPOB the number of Shares set forth on the signature
page of this Subscription Agreement on the terms and subject to the conditions provided for herein. The Investor acknowledges
and agrees that, as a result of the Domestication, the Shares that will be issued pursuant hereto shall be shares of common stock
in a Delaware corporation (and not shares in a Cayman Islands exempted company).

 

2.            Closing.
The closing of the sale of the Shares contemplated hereby (the “Closing”) shall occur on the closing date (the
 “Closing Date”) and be conditioned upon the prior or substantially concurrent consummation of the Transaction.
Upon  delivery of written notice from (or on behalf of) IPOB to the Investor (the “Closing Notice”), that
IPOB reasonably expects all conditions to the closing of the Transaction to be satisfied or waived on an expected closing date
that is not less than five (5) business days from the date on which the Closing Notice is delivered to the Investor, the Investor
shall deliver to IPOB, three (3) business days prior to the expected closing date specified in the Closing Notice, the Subscription
Amount by wire transfer of United States dollars in immediately available funds to the account(s) specified by IPOB in the
Closing Notice. On or prior to the Closing Date, IPOB shall issue the Shares to the Investor and subsequently cause the Shares
to be registered in book entry form in the name of the Investor on IPOB’s share register. For purposes of this Subscription
Agreement, “business day” shall mean a day, other than a Saturday, Sunday or other day on which commercial banks in
New York, New York or governmental authorities in the Cayman Islands (for so long as IPOB remains domiciled in Cayman Islands)
are authorized or required by law to close. Prior to or at the Closing, Investor shall deliver to IPOB a duly completed and
executed Internal Revenue Service Form W-9 or appropriate Form W-8. In the event the Closing Date does not occur within
two (2) business days after the expected closing date specified in the Closing Notice, IPOB shall promptly (but not later
than two (2) business days thereafter) return the Subscription Amount to the Investor by wire transfer of U.S. dollars in
immediately available funds to the account specified by the Investor, and any book-entries for the Shares shall be deemed cancelled;
provided that, unless this Subscription Agreement has been terminated pursuant to Section 8 hereof, such return
of funds shall not terminate this Subscription Agreement or relieve the Investor of its obligation to purchase the Shares at the
Closing.

 

     

     

    

 

3.            Closing
Conditions. The obligation of the parties hereto to consummate the purchase and sale of the Shares pursuant to this Subscription
Agreement is subject to the following conditions: (a) there shall not be in force any injunction or order enjoining or prohibiting
the issuance and sale of the Shares under this Subscription Agreement; and (b) the terms of the Transaction Agreement (including
the conditions thereto) shall not have been amended or waived in a manner that is materially adverse to the Investor (in its capacity
as such).

 

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

 

5.            IPOB
Representations and Warranties. IPOB represents and warrants to the Investor, as of the date hereof and as of the Closing Date,
that:

 

(a)            IPOB
is an exempted company duly incorporated, validly existing and in good standing under the laws of the Cayman Islands (to the extent
such concept exists in such jurisdiction). IPOB has all power (corporate or otherwise) and authority to own, lease and operate
its properties and conduct its business as presently conducted and to enter into, deliver and perform its obligations under this
Subscription Agreement. As of the Closing Date, following the Domestication, IPOB will be duly incorporated, validly existing
as a corporation and in good standing under the laws of the State of Delaware.

 

(b)            As
of the Closing Date, the Shares will be duly authorized and, when issued and delivered to the Investor against full payment therefor
in accordance with the terms of this Subscription Agreement, the Shares will be validly issued, fully paid and non-assessable and
will not have been issued in violation of or subject to any preemptive or similar rights created under IPOB’s certificate
of incorporation (as in effect at such time of issuance) or under the Delaware General Corporation Law.

 

(c)            This
Subscription Agreement has been duly authorized, executed and delivered by IPOB and, assuming that this Subscription Agreement
constitutes the valid and binding agreement of the Investor, this Subscription Agreement is enforceable against IPOB in accordance
with its terms, except as may be limited or otherwise affected by (i) bankruptcy, insolvency, fraudulent conveyance, reorganization,
moratorium or other laws relating to or affecting the rights of creditors generally, or (ii) principles of equity, whether
considered at law or equity.

 

(d)            The
issuance and sale by IPOB of the Shares pursuant to this Subscription Agreement will not conflict with or result in a breach or
violation of any of the terms or provisions of, or constitute a default under, or result in the creation or imposition of any lien,
charge or encumbrance upon any of the property or assets of IPOB or any of its subsidiaries pursuant to the terms of (i) any
indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement or instrument to which IPOB or any of its
subsidiaries is a party or by which IPOB or any of its subsidiaries is bound or to which any of the property or assets of IPOB
is subject that would reasonably be expected to have a material adverse effect on the business, financial condition or results
of operations of IPOB and its subsidiaries, taken as a whole (a “Material Adverse Effect”), or materially affect
the validity of the Shares or the legal authority of IPOB to comply in all material respects with its obligations under this Subscription
Agreement; (ii) result in any violation of the provisions of the organizational documents of IPOB; or (iii) result in
any violation of any statute or any judgment, order, rule or regulation of any court or governmental agency or body, domestic
or foreign, having jurisdiction over IPOB or any of its properties that would reasonably be expected to have a Material Adverse
Effect or materially affect the validity of the Shares or the legal authority of IPOB to comply in all material respects with its
obligations under this Subscription Agreement.

 

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(e)            As
of their respective filing dates, all reports required to be filed by IPOB with the U.S. Securities and Exchange Commission (the
 “SEC”) since April 30, 2020 (the “SEC Reports”) complied in all material respects with
the applicable requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the
rules and regulations of the SEC promulgated thereunder. As of the date hereof, there are no material outstanding or unresolved
comments in comment letters received by IPOB from the staff of the Division of Corporation Finance of the SEC with respect to any
of the SEC Reports.

 

(f)            IPOB
is not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or registration
with, any court or other federal, state, local or other governmental authority, self-regulatory organization or other person in
connection with the issuance of the Shares pursuant to this Subscription Agreement, other than (i)  filings with the SEC,
(ii) filings required by applicable state securities laws, (iii) the filings required in accordance with Section 12
of this Subscription Agreement; (iv) those required by the New York Stock Exchange (“NYSE”) or Nasdaq,
including with respect to obtaining approval of IPOB’s stockholders, and (v) the failure of which to obtain would not
be reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

 

(g)            As
of the date hereof, IPOB has not received any written communication from a governmental authority that alleges that IPOB is
not in compliance with or is in default or violation of any applicable law, except where such non-compliance, default or violation
would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

 

(h)            Assuming
the accuracy of the Investor’s representations and warranties set forth in Section 6 of this Subscription Agreement,
no registration under the Securities Act of 1933, as amended (the “Securities Act”), is required for the offer
and sale of the Shares by IPOB to the Investor.

 

(i)             Neither
IPOB nor any person acting on its behalf has offered or sold the Shares by any form of general solicitation or general advertising
in violation of the Securities Act.

 

(j)             As
of the date hereof, the issued and outstanding Class A ordinary shares of IPOB are registered pursuant to Section 12(b) of
the Exchange Act. Following the Domestication, the Shares are expected to be registered under the Exchange Act.

 

(k)            IPOB
is not under any obligation to pay any broker’s fee or commission in connection with the sale of the Shares other than to
the Placement Agent.

 

(l)            The
Other Subscription Agreements reflect the same Per Share Subscription Price and other terms with respect to the purchase of the
Shares that are no more favorable to such subscriber thereunder than the terms of this Subscription Agreement, other than terms
particular to the regulatory requirements of such subscriber or its affiliates or related funds. For the avoidance of doubt, this
Section 5(l) shall not apply to any document entered into in connection with the Insider PIPE Investment; provided,
however, that such Insider PIPE Investment shall be with respect to the same class of Class A common stock being acquired
by the Investor hereunder and at the same Per Share Subscription Price.

 

6.           Investor
Representations and Warranties. The Investor represents and warrants to IPOB, as of the date hereof and as of the Closing date,
that:

 

(a)            The
Investor (i) is a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act) or an
institutional “accredited investor” (within the meaning of Rule 501(a)(1), (2), (3), (7) or (8) under
the Securities Act), in each case, satisfying the applicable requirements set forth on Schedule A, (ii) is acquiring
the Shares only for his, her or its own account and not for the account of others, or if the Investor is subscribing for the Shares
as a fiduciary or agent for one or more investor accounts, the Investor has full investment discretion with respect to each such
account, and the full power and authority to make the acknowledgements, representations and agreements herein on behalf of each
owner of each such account, and (iii) is not acquiring the Shares with a view to, or for offer or sale in connection with,
any distribution thereof in violation of the Securities Act (and shall provide the requested information set forth on Schedule A).
The Investor is not an entity formed for the specific purpose of acquiring the Shares.

 

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(b)            The
Investor acknowledges and agrees that the Shares are being offered in a transaction not involving any public offering within the
meaning of the Securities Act, that the Shares have not been registered under the Securities Act and that IPOB is not required
to register the Shares except as set forth in Section 7 of this Subscription Agreement. The Investor acknowledges and
agrees that the Shares may not be offered, resold, transferred, pledged or otherwise disposed of by the Investor absent an effective
registration statement under the Securities Act except (i) to IPOB or a subsidiary thereof, (ii) to non-U.S. persons
pursuant to offers and sales that occur outside the United States within the meaning of Regulation S under the Securities Act or
(iii) pursuant to another applicable exemption from the registration requirements of the Securities Act, and, in each case,
in accordance with any applicable securities laws of the states of the United States and other applicable jurisdictions, and that
any certificates representing the Shares shall contain a restrictive legend to such effect. The Investor acknowledges and agrees
that the Shares will be subject to these securities law transfer restrictions and, as a result of these transfer restrictions,
the Investor may not be able to readily offer, resell, transfer, pledge or otherwise dispose of the Shares and may be required
to bear the financial risk of an investment in the Shares for an indefinite period of time. The Investor acknowledges and agrees
that the Shares will not immediately be eligible for offer, resale, transfer, pledge or disposition pursuant to Rule 144 promulgated
under the Securities Act, and that the provisions of Rule 144(i) will apply to the Shares. The Investor acknowledges
and agrees that it has been advised to consult legal, tax and accounting prior to making any offer, resale, transfer, pledge or
disposition of any of the Shares.

 

(c)            The
Investor acknowledges and agrees that the Investor is purchasing the Shares from IPOB. The Investor further acknowledges that there
have been no representations, warranties, covenants and agreements made to the Investor by or on behalf of IPOB, the Company, any
of their respective affiliates or any control persons, officers, directors, employees, agents or representatives of any of the
foregoing or any other person or entity, expressly or by implication, other than those representations, warranties, covenants and
agreements of IPOB expressly set forth in Section 5 of this Subscription Agreement.

 

(d)            The
Investor acknowledges and agrees that the Investor has received such information as the Investor deems necessary in order to make
an investment decision with respect to the Shares, including, with respect to IPOB, the Transaction and the business of the Company
and its subsidiaries. Without limiting the generality of the foregoing, the Investor acknowledges that he, she or it has reviewed
IPOB’s filings with the SEC. The Investor acknowledges and agrees that the Investor and the Investor’s professional
advisor(s), if any, have had the full opportunity to ask such questions, receive such answers and obtain such information as the
Investor and such Investor’s professional advisor(s), if any, have deemed necessary to make an investment decision with respect
to the Shares.

 

(e)            The
Investor became aware of this offering of the Shares solely by means of direct contact between the Investor and IPOB, the Company
or a representative of IPOB or the Company, and the Shares were offered to the Investor solely by direct contact between the Investor
and IPOB, the Company or a representative of IPOB or the Company. The Investor did not become aware of this offering of the Shares,
nor were the Shares offered to the Investor, by any other means. The Investor acknowledges that the Shares (i) were not offered
by any form of general solicitation or general advertising and (ii) are not being offered in a manner involving a public offering
under, or in a distribution in violation of, the Securities Act, or any state securities laws. The Investor acknowledges that it
is not relying upon, and has not relied upon, any statement, representation or warranty made by any person, firm or corporation
(including, without limitation, IPOB, the Company, the Placement Agent, any of their respective affiliates or any control
persons, officers, directors, employees, agents or representatives of any of the foregoing), other than the representations and
warranties of IPOB contained in Section 5 of this Subscription Agreement, in making its investment or decision to invest
in IPOB.

 

(f)            The
Investor acknowledges that it is aware that there are substantial risks incident to the purchase and ownership of the Shares, including
those set forth in IPOB’s filings with the SEC. The Investor has such knowledge and experience in financial and business
matters as to be capable of evaluating the merits and risks of an investment in the Shares, and the Investor has sought such accounting,
legal and tax advice as the Investor has considered necessary to make an informed investment decision. The Investor acknowledges
that Investor shall be responsible for any of the Investor’s tax liabilities that may arise as a result of the transactions
contemplated by this Subscription Agreement, and that neither IPOB nor the Company has provided any tax advice or any other representation
or guarantee regarding the tax consequences of the transactions contemplated by the Subscription Agreement.

 

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

 

(h)           In
making its decision to purchase the Shares, the Investor has relied solely upon independent investigation made by the Investor
and the representations and warranties in Section 5. Without limiting the generality of the foregoing, the Investor
has not relied on any statements or other information provided by or on behalf of the Placement Agent or any of their respective
affiliates or any control persons, officers, directors, employees, agents or representatives of any of the foregoing concerning
IPOB, the Company, the Transaction, the Transaction Agreement, this Subscription Agreement or the transactions contemplated hereby
or thereby, the Shares or the offer and sale of the Shares.

 

(i)            The
Investor acknowledges and agrees that no federal or state agency has passed upon or endorsed the merits of the offering of the
Shares or made any findings or determination as to the fairness of this investment.

 

(j)            The
Investor, if not a natural person, has been duly formed or incorporated and is validly existing and is in good standing under the
laws of its jurisdiction of formation or incorporation, with power and authority to enter into, deliver and perform its obligations
under this Subscription Agreement.

 

(k)           The
execution, delivery and performance by the Investor of this Subscription Agreement are within the powers of the Investor, have
been duly authorized and will not constitute or result in a breach or default under or conflict with any order, ruling or regulation
of any court or other tribunal or of any governmental commission or agency, or any agreement or other undertaking, to which the
Investor is a party or by which the Investor is bound, and, if the Investor is not a natural person, will not violate any provisions
of the Investor’s organizational documents, including, without limitation, its incorporation or formation papers, bylaws,
indenture of trust or partnership or operating agreement, as may be applicable. The signature of the Investor on this Subscription
Agreement is genuine, and the signatory, if the Investor is a natural person, has legal competence and capacity to execute the
same or, if the Investor is not a natural person, the signatory has been duly authorized to execute the same, and, assuming that
this Subscription Agreement constitutes the valid and binding agreement of IPOB, this Subscription Agreement constitutes a legal,
valid and binding obligation of the Investor, enforceable against the Investor in accordance with its terms except as may be limited
or otherwise affected by (i) bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other laws relating
to or affecting the rights of creditors generally, and (ii) principles of equity, whether considered at law or equity.

 

(l)            Neither
the Investor nor, if the Investor is not a natural person, any of its officers, directors, managers, managing members, general
partners or any other person acting in a similar capacity or carrying out a similar function, is (i) a person named on the
Specially Designated Nationals and Blocked Persons List, the Foreign Sanctions Evaders List, the Sectoral Sanctions Identification
List, or any other similar list of sanctioned persons administered by the U.S. Treasury Department’s Office of Foreign Assets
Control (“OFAC”), or any similar list of sanctioned persons administered by the European Union or any individual
European Union member state, including the United Kingdom (collectively, “Sanctions Lists”); (ii) directly
or indirectly owned or controlled by, or acting on behalf of, one or more persons on a Sanctions List; (iii) organized, incorporated,
established, located, resident or born in, or a citizen, national, or the government, including any political subdivision, agency,
or instrumentality thereof, of, Cuba, Iran, North Korea, Syria, Venezuela, the Crimea region of Ukraine, or any other country
or territory embargoed or subject to substantial trade restrictions by the United States, the European Union or any individual
European Union member state, including the United Kingdom; (iv) a Designated National as defined in the Cuban Assets Control
Regulations, 31 C.F.R. Part 515; or (v) a non-U.S. shell bank or providing banking services indirectly to a non-U.S.
shell bank (collectively, a “Prohibited Investor”). The Investor represents that if it is a financial institution
subject to the Bank Secrecy Act (31 U.S.C. Section 5311 et seq.) (the “BSA”), as amended by the USA PATRIOT
Act of 2001 (the “PATRIOT Act”), and its implementing regulations (collectively, the “BSA/PATRIOT Act”),
that the Investor maintains policies and procedures reasonably designed to comply with applicable obligations under the BSA/PATRIOT
Act. The Investor also represents that it maintains policies and procedures reasonably designed to ensure compliance with sanctions
administered by the United States, the European Union, or any individual European Union member state, including the United Kingdom,
to the extent applicable to it. The Investor further represents that the funds held by the Investor and used to purchase the Shares
were legally derived and were not obtained, directly or indirectly, from a Prohibited Investor.

 

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(m)           If
the Investor is or is acting on behalf of (i) an employee benefit plan that is subject to Title I of the Employee Retirement
Income Security Act of 1974, as amended (“ERISA”), (ii) a plan, an individual retirement account or other
arrangement that is subject to Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”),
(iii) an entity whose underlying assets are considered to include “plan assets” of any such plan, account or arrangement
described in clauses (i) and (ii) (each, an “ERISA Plan”), or (iv) an employee benefit plan
that is a governmental plan (as defined in Section 3(32) of ERISA), a church plan (as defined in Section 3(33) of ERISA),
a non-U.S. plan (as described in Section 4(b)(4) of ERISA) or other plan that is not subject to the foregoing clauses (i),
(ii) or (iii) but may be subject to provisions under any other federal, state, local, non-U.S. or other laws or regulations
that are similar to such provisions of ERISA or the Code (collectively, “Similar Laws,” and together with ERISA
Plans, “Plans”), the Investor represents and warrants that (A) neither IPOB nor any of its affiliates (the
 “Transaction Parties”) has provided investment advice or has otherwise acted as the Plan’s fiduciary,
with respect to its decision to acquire and hold the Shares, and none of the parties to the Transaction is or shall at any time
be the Plan’s fiduciary with respect to any decision in connection with the Investor’s investment in the Shares; and
(B) its purchase of the Shares will not result in a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975
of the Code, or any applicable Similar Law.

 

(n)            No
disclosure or offering document has been prepared by Credit Suisse Securities (USA) LLC or any of its affiliates (the “Placement
Agent”) in connection with the offer and sale of the Shares.

 

(o)            None
of the Placement Agent, nor any of its affiliates, nor any control persons, officers, directors, employees, agents or representatives
of any of the foregoing has made any independent investigation with respect to IPOB, the Company or its subsidiaries or any of
their respective businesses, or the Shares or the accuracy, completeness or adequacy of any information supplied to the Investor
by IPOB.

 

(p)            In
connection with the issue and purchase of the Shares, the Placement Agent has not acted as the Investor’s financial advisor
or fiduciary.

 

(q)            The
Investor has or has commitments to have and, when required to deliver payment to IPOB pursuant to Section 2 above,
will have, sufficient funds to pay the Subscription Amount and consummate the purchase and sale of the Shares pursuant to this
Subscription Agreement.

 

7.            Registration
Rights.

 

(a)            IPOB
agrees that, within thirty (30) calendar days following the Closing Date (such deadline, the “Filing Deadline”), IPOB
will submit to or file with the SEC a registration statement for a shelf registration on Form S-1 or Form S-3 (if the
Company is then eligible to use a Form S-3 shelf registration) (the “Registration Statement”), in each
case, covering the resale of the Shares acquired by the Investor pursuant to this Agreement which are eligible for registration
(determined as of two (2) business days prior to such submission or filing) (the “Registrable Shares”)
and IPOB shall use its commercially reasonable efforts to have the Registration Statement declared effective as soon as practicable
after the filing thereof, but no later than the earlier of (i) the 90th calendar day following the filing date thereof if
the SEC notifies IPOB that it will “review” the Registration Statement and (ii) the 10th business day after the
date IPOB is notified (orally or in writing, whichever is earlier) by the SEC that the Registration Statement will not be “reviewed”
or will not be subject to further review (such earlier date, the “Effectiveness Deadline”); provided,
however, that IPOB’s obligations to include the Registrable Shares in the Registration Statement are contingent
upon Investor furnishing in writing to IPOB such information regarding Investor, the securities of IPOB held by Investor and the
intended method of disposition of the Registrable Shares (which shall be limited to non-underwritten public offerings) as shall
be reasonably requested by IPOB to effect the registration of the Registrable Shares, and Investor shall execute such documents
in connection with such registration as IPOB may reasonably request that are customary of a selling stockholder in similar situations,
including providing that IPOB shall be entitled to postpone and suspend the effectiveness or use of the Registration Statement,
if applicable, during any customary blackout or similar period or as permitted hereunder; provided that Investor shall not
in connection with the foregoing be required to execute any lock-up or similar agreement or otherwise be subject to any contractual
restriction on the ability to transfer the Registrable Shares. For as long as the Investor holds Shares, IPOB will use commercially
reasonable efforts to file all reports for so long as the condition in Rule 144(c)(1) (or Rule 144(i)(2), if applicable)
is required to be satisfied, and provide all customary and reasonable cooperation, necessary to enable the undersigned to resell
the Shares pursuant to Rule 144 of the Securities Act (in each case, when Rule 144 of the Securities Act becomes available
to the Investors). Any failure by IPOB to file the Registration Statement by the Filing Deadline or to effect such Registration
Statement by the Effectiveness Deadline shall not otherwise relieve IPOB of its obligations to file or effect the Registration
Statement as set forth above in this Section 7.

 

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(b)           At
its expense IPOB shall:

 

(i)          except
for such times as IPOB is permitted hereunder to suspend the use of the prospectus forming part of a Registration Statement, use
its commercially reasonable efforts to keep such registration, and any qualification, exemption or compliance under state securities
laws which IPOB determines to obtain, continuously effective with respect to Investor, and to keep the applicable Registration
Statement or any subsequent shelf registration statement free of any material misstatements or omissions, until the earlier of
the following: (A) Investor ceases to hold any Registrable Shares, (B) the date all Registrable Shares held by Investor
may be sold without restriction under Rule 144, including without limitation, any volume and manner of sale restrictions which
may be applicable to affiliates under Rule 144 and without the requirement for IPOB to be in compliance with the current public
information required under Rule 144(c)(1) (or Rule 144(i)(2), if applicable), and (C) two years from the date
of effectiveness of the Registration Statement. The period of time during which IPOB is required hereunder to keep a Registration
Statement effective is referred to herein as the “Registration Period”;

 

(ii)          advise
Investor, as expeditiously as possible:

 

(1)            when
a Registration Statement or any amendment thereto has been filed with the SEC;

 

(2)            after
it shall receive notice or obtain knowledge thereof, of the issuance by the SEC of any stop order suspending the effectiveness
of any Registration Statement or the initiation of any proceedings for such purpose;

 

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

 

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

 

Notwithstanding anything to the contrary
set forth herein, IPOB shall not, when so advising Investor of such events, provide Investor with any material, nonpublic
information regarding IPOB other than to the extent that providing notice to Investor of the occurrence of the events listed in
(1) through (4) above constitutes material, nonpublic information regarding IPOB;

 

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

 

(iv)          upon
the occurrence of any event contemplated in Section 7(b)(ii)(4) above, except for such times as IPOB is permitted
hereunder to suspend, and has suspended, the use of a prospectus forming part of a Registration Statement, IPOB shall use
its commercially reasonable efforts to as soon as reasonably practicable prepare a post-effective amendment to such Registration
Statement or a supplement to the related prospectus, or file any other required document so that, as thereafter delivered to purchasers
of the Registrable Shares included therein, such prospectus will not include any untrue statement of a material fact or omit to
state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made,
not misleading;

 

(v)           use
its commercially reasonable efforts to cause all Registrable Shares to be listed on each securities exchange or market, if any,
on which the Class A Shares issued by IPOB have been listed;

 

(vi)           use
its commercially reasonable efforts to allow the Investor to review disclosure regarding the Investor in the Registration Statement;
and

 

(vii)         otherwise,
in good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by the Investor, consistent
with the terms of this Agreement, in connection with the registration of the Registrable Shares.

 

(c)          Notwithstanding
anything to the contrary in this Subscription Agreement, IPOB shall be entitled to delay the filing or effectiveness of, or
suspend the use of, the Registration Statement if it determines that in order for the Registration Statement not to contain a material
misstatement or omission, (i) an amendment thereto would be needed to include information that would at that time not otherwise
be required in a current, quarterly, or annual report under the Exchange Act, (ii) the negotiation or consummation of a transaction
by IPOB or its subsidiaries is pending or an event has occurred, which negotiation, consummation or event IPOB’s board of
directors reasonably believes would require additional disclosure by IPOB in the Registration Statement of material information
that IPOB has a bona fide business purpose for keeping confidential and the non-disclosure of which in the Registration Statement
would be expected, in the reasonable determination of IPOB’s board of directors to cause the Registration Statement to fail
to comply with applicable disclosure requirements, or (iii) in the good faith judgment of the majority of IPOB’s board
of directors, such filing or effectiveness or use of such Registration Statement, would be seriously detrimental to the Company
and the majority of the IPOB board or directors concludes as a result that it is essential to defer such filing (each such circumstance,
a “Suspension Event”); provided, however, that IPOB may not delay or suspend the Registration
Statement on more than three occasions or for more than ninety (90) consecutive calendar days, or more than one hundred and
twenty (120) total calendar days in each case during any twelve-month period. Upon receipt of any written notice from IPOB of the
happening of any Suspension Event during the period that the Registration Statement is effective or if as a result of a Suspension
Event the Registration Statement or related prospectus contains any untrue statement of a material fact or omits to state any material
fact required to be stated therein or necessary to make the statements therein (in light of the circumstances under which they
were made, in the case of the prospectus) not misleading, Investor agrees that (i) it will immediately discontinue offers
and sales of the Registrable Shares under the Registration Statement (excluding, for the avoidance of doubt, sales conducted pursuant
to Rule 144) until Investor receives copies of a supplemental or amended prospectus (which IPOB agrees to promptly prepare)
that corrects the misstatement(s) or omission(s) referred to above and receives notice that any post-effective amendment
has become effective or unless otherwise notified by IPOB that it may resume such offers and sales, and (ii) it will maintain
the confidentiality of any information included in such written notice delivered by IPOB unless otherwise required by law or subpoena.
If so directed by IPOB, Investor will deliver to IPOB or, in Investor’s sole discretion destroy, all copies of the prospectus
covering the Registrable Shares in Investor’s possession; provided, however, that this obligation to deliver
or destroy all copies of the prospectus covering the Registrable Shares shall not apply (A) to the extent Investor is required
to retain a copy of such prospectus (1) in order to comply with applicable legal, regulatory, self-regulatory or professional
requirements or (2) in accordance with a bona fide pre-existing document retention policy or (B) to copies stored electronically
on archival servers as a result of automatic data back-up.

 

    8

     

    

 

(d)          Indemnification.

 

(i)            IPOB
agrees to indemnify, to the extent permitted by law, Investor (to the extent a seller under the Registration Statement), its
directors and officers and each person who controls Investor (within the meaning of the Securities Act), to the extent permitted
by law, against all losses, claims, damages, liabilities and reasonable and documented out of pocket expenses (including reasonable
and documented attorneys’ fees of one law firm) caused by any untrue or alleged untrue statement of material fact contained
in any Registration Statement, prospectus included in any Registration Statement (“Prospectus”) or preliminary
Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be
stated therein or necessary to make the statements therein (in the case of a Prospectus, in the light of the circumstances under
which they were made) not misleading, except insofar as the same are caused by or contained in any information or affidavit so
furnished in writing to IPOB by or on behalf of such Investor expressly for use therein.

 

(ii)            In
connection with any Registration Statement in which an Investor is participating, such Investor shall furnish (or cause to be furnished)
to IPOB in writing such information and affidavits as IPOB reasonably requests for use in connection with any such Registration
Statement or Prospectus and, to the extent permitted by law, shall indemnify IPOB, its directors and officers and each person or
entity who controls IPOB (within the meaning of the Securities Act) against any losses, claims, damages, liabilities and expenses
(including, without limitation, reasonable outside attorneys’ fees) resulting from any untrue or alleged untrue statement
of material fact contained or incorporated by reference in any Registration Statement, Prospectus or preliminary Prospectus or
any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein
or necessary to make the statements therein (in the case of a Prospectus, in the light of the circumstances under which they were
made) not misleading, but only to the extent that such untrue statement or omission is contained (or not contained in, in the case
of an omission) in any information or affidavit so furnished in writing by on behalf of such Investor expressly for use therein;
provided, however, that the liability of each such Investor shall be several and not joint and shall be in proportion
to and limited to the net proceeds received by such Investor from the sale of Registrable Shares giving rise to such indemnification
obligation.

 

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

 

    9

     

    

 

(iv)          The
indemnification provided for under this Subscription Agreement shall remain in full force and effect regardless of any investigation
made by or on behalf of the indemnified party or any officer, director or controlling person or entity of such indemnified party
and shall survive the transfer of securities.

 

(v)            If
the indemnification provided under this Section 7(d) from the indemnifying party is unavailable or insufficient
to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities and expenses referred to herein, then
the indemnifying party, in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by the indemnified
party as a result of such losses, claims, damages, liabilities and expenses in such proportion as is appropriate to reflect the
relative fault of the indemnifying party and the indemnified party, as well as any other relevant equitable considerations; provided,
however, the liability of the Investor shall be limited to the net proceeds received by such Investor from the sale of Registrable
Shares giving rise to such indemnification obligation. The relative fault of the indemnifying party and indemnified party shall
be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement
of a material fact or omission or alleged omission to state a material fact, was made by (or not made by, in the case of an omission),
or relates to information supplied by (or not supplied by, in the case of an omission), such indemnifying party or indemnified
party, and the indemnifying party’s and indemnified party’s relative intent, knowledge, access to information and opportunity
to correct or prevent such action. The amount paid or payable by a party as a result of the losses or other liabilities referred
to above shall be deemed to include, subject to the limitations set forth in Sections 7(d)(i), (ii) and (iii) above,
any legal or other fees, charges or expenses reasonably incurred by such party in connection with any investigation or proceeding.
No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be
entitled to contribution pursuant to this Section 7(d)(v) from any person or entity who was not guilty of such
fraudulent misrepresentation.

 

8.            Termination.
This Subscription Agreement shall terminate and be void and of no further force and effect, and all rights and obligations of the
parties hereunder shall terminate without any further liability on the part of any party in respect thereof, upon the earliest
to occur of (i) such date and time as the Transaction Agreement is terminated in accordance with its terms, (ii) upon
the mutual written agreement of each of the parties hereto (and the Company) to terminate this Subscription Agreement, (iii) if
the conditions to Closing set forth in Section 3 of this Subscription Agreement are not satisfied, or are not capable
of being satisfied, on or prior to the Closing and, as a result thereof, the transactions contemplated by this Subscription Agreement
will not be or are not consummated at the Closing and (iv) March 31, 2021; provided that nothing herein will relieve
any party from liability for any willful breach hereof prior to the time of termination, and each party will be entitled to any
remedies at law or in equity to recover losses, liabilities or damages arising from any such willful breach. IPOB shall notify
the Investor of the termination of the Transaction Agreement promptly after the termination of such agreement. Upon the termination
of this Subscription Agreement in accordance with this Section 8, any monies paid by the Investor to IPOB in connection
herewith shall be promptly (and in any event within one business day after such termination) returned to the Investor.

 

9.            Trust
Account Waiver. The Investor acknowledges that IPOB is a blank check company with the powers and privileges to effect a merger,
asset acquisition, reorganization or similar business combination involving IPOB and one or more businesses or assets. The Investor
further acknowledges that, as described in IPOB’s prospectus relating to its initial public offering dated April 27,
2020 (the “Prospectus”) available at www.sec.gov, substantially all of IPOB’s assets consist of the cash
proceeds of IPOB’s initial public offering and private placement of its securities, and substantially all of those proceeds
have been deposited in a trust account (the “Trust Account”) for the benefit of IPOB, its public shareholders
and the underwriter of IPOB’s initial public offering. Except with respect to interest earned on the funds held in the Trust
Account that may be released to IPOB to pay its tax obligations, if any, the cash in the Trust Account may be disbursed only for
the purposes set forth in the Prospectus. For and in consideration of IPOB entering into this Subscription Agreement, the receipt
and sufficiency of which are hereby acknowledged, the Investor hereby irrevocably waives any and all right, title and interest,
or any claim of any kind it has or may have in the future, in or to any monies held in the Trust Account, and agrees not to seek
recourse against the Trust Account as a result of, or arising out of, this Subscription Agreement; provided, that nothing
in this Section 9 shall be deemed to limit the Investor’s right, title, interest or claim to the Trust Account
by virtue of the Investor’s record or beneficial ownership of Shares of IPOB acquired by any means other than pursuant to
this Subscription Agreement.

 

    10

     

    

 

10.         Miscellaneous.

 

(a)            Neither
this Subscription Agreement nor any rights that may accrue to the Investor hereunder (other than the Shares acquired hereunder,
if any) may be transferred or assigned, other than an assignment to any fund or account managed by the same investment manager
as the Investor or an affiliate thereof, subject to, if such transfer or assignment is prior to the Closing, such transferee or
assignee, as applicable, executing a joinder to this Subscription Agreement or a separate subscription agreement in substantially
the same form as this Subscription Agreement, including with respect to the Subscription Amount and other terms and conditions,
provided, that, in the case of any such transfer or assignment, the initial party to this Subscription Agreement shall remain
bound by its obligations under this Subscription Agreement in the event that the transferee or assignee, as applicable, does not
comply with its obligations to consummate the purchase of Shares contemplated hereby. Neither this Subscription Agreement nor any
rights that may accrue to IPOB hereunder or any of IPOB’s obligations may be transferred or assigned other than pursuant
to the Transactions.

 

(b)            IPOB
may request from the Investor such additional information as IPOB may deem necessary to evaluate the eligibility of the Investor
to acquire the Shares and in connection with the inclusion of the Shares in the Registration Statement, and the Investor shall
provide such information as may reasonably be requested, to the extent readily available and to the extent consistent with its
internal policies and procedures. The Investor acknowledges that IPOB may file a copy of this Subscription Agreement with the SEC
as an exhibit to a current or periodic report or a registration statement of IPOB.

 

(c)            The
Investor acknowledges that IPOB, the Placement Agent (as third party beneficiary with right of enforcement) and others will rely
on the acknowledgments, understandings, agreements, representations and warranties of the Investor contained in this Subscription
Agreement. Prior to the Closing, the Investor agrees to promptly notify IPOB, the Company and the Placement Agent if any of the
acknowledgments, understandings, agreements, representations and warranties of the Investor set forth herein are no longer accurate.

 

(d)            IPOB,
the Placement Agent and the Investor are each entitled to rely upon this Subscription Agreement and each is irrevocably authorized
to produce this Subscription Agreement or a copy hereof to any interested party in any administrative or legal proceeding or official
inquiry with respect to the matters covered hereby.

 

(e)            All
of the representations and warranties contained in this Subscription Agreement shall survive the Closing. All of the covenants
and agreements made by each party hereto in this Subscription Agreement shall survive the Closing.

 

(f)            This
Subscription Agreement may not be modified, waived or terminated (other than pursuant to the terms of Section 8 above)
except by an instrument in writing, signed by each of the parties hereto and, to the extent required by the Transaction Agreement,
the Company. No failure or delay of either party in exercising any right or remedy hereunder shall operate as a waiver thereof,
nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such
right or power, or any course of conduct, preclude any other or further exercise thereof or the exercise of any other right or
power. The rights and remedies of the parties and third party beneficiaries hereunder are cumulative and are not exclusive of any
rights or remedies that they would otherwise have hereunder.

 

(g)            This
Subscription Agreement (including the schedule hereto) constitutes the entire agreement, and supersedes all other prior agreements,
understandings, representations and warranties, both written and oral, among the parties, with respect to the subject matter hereof.
Except as set forth in Section 10(c) with respect to the persons referenced therein, this Subscription Agreement
shall not confer any rights or remedies upon any person other than the parties hereto, and their respective successor and assigns.

 

(h)            Except
as otherwise provided herein, this Subscription Agreement shall be binding upon, and inure to the benefit of the parties hereto
and their heirs, executors, administrators, successors, legal representatives, and permitted assigns, and the agreements, representations,
warranties, covenants and acknowledgments contained herein shall be deemed to be made by, and be binding upon, such heirs, executors,
administrators, successors, legal representatives and permitted assigns.

 

    11

     

    

 

(i)            If
any provision of this Subscription Agreement shall be adjudicated by a court of competent jurisdiction to be invalid, illegal or
unenforceable, the validity, legality or enforceability of the remaining provisions of this Subscription Agreement shall not in
any way be affected or impaired thereby and shall continue in full force and effect.

 

(j)            This
Subscription Agreement may be executed in one or more counterparts (including by electronic mail or in .pdf) and by different parties
in separate counterparts, with the same effect as if all parties hereto had signed the same document. All counterparts so executed
and delivered shall be construed together and shall constitute one and the same agreement.

 

(k)            The
parties hereto acknowledge and agree that irreparable damage would occur in the event that any of the provisions of this Subscription
Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that
the parties shall be entitled to an injunction or injunctions to prevent breaches of this Subscription Agreement, without posting
a bond or undertaking and without proof of damages, to enforce specifically the terms and provisions of this Subscription Agreement,
this being in addition to any other remedy to which such party is entitled at law, in equity, in contract, in tort or otherwise.

 

(l)            THE
PARTIES HERETO IRREVOCABLY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE court of chancery
of the state of delaware (or, to the extent such court does not have subject matter jurisdiction, the superior court of the state
of delaware, or the united states district court for the district of delaware) SOLELY IN RESPECT OF THE INTERPRETATION AND
ENFORCEMENT OF THE PROVISIONS OF THIS SUBSCRIPTION AGREEMENT AND THE DOCUMENTS REFERRED TO IN THIS SUBSCRIPTION AGREEMENT AND IN
RESPECT OF THE TRANSACTIONS CONTEMPLATED HEREBY, AND HEREBY WAIVE, AND AGREE NOT TO ASSERT, AS A DEFENSE IN ANY ACTION, SUIT OR
PROCEEDING FOR INTERPRETATION OR ENFORCEMENT HEREOF OR ANY SUCH DOCUMENT THAT IS NOT SUBJECT THERETO OR THAT SUCH ACTION, SUIT
OR PROCEEDING MAY NOT BE BROUGHT OR IS NOT MAINTAINABLE IN SAID COURTS OR THAT VENUE THEREOF MAY NOT BE APPROPRIATE OR
THAT THIS SUBSCRIPTION AGREEMENT OR ANY SUCH DOCUMENT MAY NOT BE ENFORCED IN OR BY SUCH COURTS, AND THE PARTIES HERETO IRREVOCABLY
AGREE THAT ALL CLAIMS WITH RESPECT TO SUCH ACTION, SUIT OR PROCEEDING SHALL BE HEARD AND DETERMINED BY SUCH A delaware
STATE OR FEDERAL COURT. THE PARTIES HEREBY CONSENT TO AND GRANT ANY SUCH COURT JURISDICTION OVER THE PERSON OF SUCH PARTIES AND
OVER THE SUBJECT MATTER OF SUCH DISPUTE AND AGREE THAT MAILING OF PROCESS OR OTHER PAPERS IN CONNECTION WITH SUCH ACTION, SUIT
OR PROCEEDING IN THE MANNER PROVIDED IN THIS SECTION 10(l) OF THIS SUBSCRIPTION AGREEMENT OR IN SUCH OTHER MANNER
AS MAY BE PERMITTED BY LAW SHALL BE VALID AND SUFFICIENT SERVICE THEREOF.

 

(m)           EACH
PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY
WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF
OR RELATING TO THIS SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS SUBSCRIPTION AGREEMENT. EACH PARTY CERTIFIES
AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE,
THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER; (II) SUCH PARTY UNDERSTANDS
AND HAS CONSIDERED THE IMPLICATIONS OF THE FOREGOING WAIVER; (III) SUCH PARTY MAKES THE FOREGOING WAIVER VOLUNTARILY AND (IV) SUCH
PARTY HAS BEEN INDUCED TO ENTER INTO THIS SUBSCRIPTION AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVER AND CERTIFICATIONS IN
THIS SECTION 10(m).

 

    12

     

    

 

11.         Non-Reliance
and Exculpation. The Investor acknowledges that it is not relying upon, and has not relied upon, any statement, representation
or warranty made by any person, firm or corporation (including, without limitation, the Placement Agent, any of its affiliates
or any control persons, officers, directors, employees, partners, agents or representatives of any of the foregoing), other than
the statements, representations and warranties of IPOB expressly contained in Section 5 of this Subscription Agreement,
in making its investment or decision to invest in IPOB. The Investor acknowledges and agrees that none of (i) any other investor
pursuant to this Subscription Agreement or any other subscription agreement related to the private placement of the Shares (including
the investor’s respective affiliates or any control persons, officers, directors, employees, partners, agents or representatives
of any of the foregoing), (ii) the Placement Agent, its affiliates or any control persons, officers, directors, employees,
partners, agents or representatives of any of the foregoing, (iii) any other party to the Transaction Agreement (other than
IPOB), or (iv) any affiliates, or any control persons, officers, directors, employees, partners, agents or representatives
of any of IPOB, the Company or any other party to the Transaction Agreement shall be liable to the Investor, or to any other investor,
pursuant to this Subscription Agreement or any other subscription agreement related to the private placement of the Shares, the
negotiation hereof or thereof or the subject matter hereof or thereof, or the transactions contemplated hereby or thereby, for
any action heretofore or hereafter taken or omitted to be taken by any of them in connection with the purchase of the Shares.

 

12.         Press
Releases. IPOB shall, by 9:00 a.m., New York City time, on the first business day immediately following the date of this Subscription
Agreement, issue one or more press releases or furnish or file with the SEC a Current Report on Form 8-K (collectively, the
 “Disclosure Document”) disclosing, to the extent not previously publicly disclosed, the PIPE Investment, all
material terms of the Transaction and any other material, non-public information that IPOB has provided to the Investor at any
time prior to the filing of the Disclosure Document. From and after the disclosure of the Disclosure Document, to the knowledge
of IPOB, the Investors shall not be in possession of any material, non-public information received from IPOB or any of its officers,
directors or employees. All press releases or other public communications relating to the transactions contemplated hereby between
IPOB and the Investor, and the method of the release for publication thereof, shall be subject to the prior approval of (i) IPOB,
and (ii) to the extent such press release or public communication references the Investor or its affiliates or investment
advisers by name, the Investor, which approval shall not be unreasonably withheld or conditioned; provided that neither
IPOB nor the Investor shall be required to obtain consent pursuant to this Section 12 to the extent any proposed release
or statement is substantially equivalent to the information that has previously been made public without breach of the obligation
under this Section 12. The restriction in this Section 12 shall not apply to the extent the public announcement
is required by applicable securities law, any governmental authority or stock exchange rule; provided, that in such an event,
the applicable party shall use its commercially reasonable efforts to consult with the other party in advance as to its form, content
and timing.

 

13.         Notices.
All notices and other communications among the parties shall be in writing and shall be deemed to have been duly given (i) when
delivered in person, (ii) when delivered after posting in the United States mail having been sent registered or certified
mail return receipt requested, postage prepaid, (iii) when delivered by FedEx or other nationally recognized overnight delivery
service, or (iv) when delivered by email (in each case in this clause (iv), solely if receipt is confirmed, but excluding
any automated reply, such as an out-of-office notification), addressed as follows:

 

If to the Investor, to the address
provided on the Investor’s signature page hereto.

 

If to IPOB, to:

 

	 	Social Capital Hedosophia Holdings Corp. II
 120 Hawthorne Avenue
	 	Palo Alto, California
	 	Attention:     	Steve Trieu
	 	Email:           	steve@socialcapital.com

 

    13

     

    

 

with copies to (which shall not constitute notice),
to:

 

	 	Skadden, Arps, Slate, Meagher &
    Flom LLP
	 	Four Times Square
	 	New York, New York 10036
	 	Attention:   	Howard L. Ellin
	 	          	Christopher M. Barlow
	 	       	P. Michelle Gasaway
	 	Email:        	howard.ellin@skadden.com
	 	     	christopher.barlow@skadden.com
	 	      	michelle.gasaway@skadden.com
	 	 
	 	and
	 	 
	 	Opendoor Labs Inc.
	 	1 Post Street, Floor 11
	 	San Francisco, CA 94104
	 	Attention:   	Legal Department
	 	Email:        	legal@opendoor.com
	 	 
	 	and
	 	 
	 	Latham & Watkins LLP
	 	885 Third Avenue
	 	New York, NY 10022
	 	Attention:   	Justin G. Hamill
	 	      	Joshua Dobofsky
	 	       	Kristen Grannis
	 	Email:        	justin.hamill@lw.com
	 	     	joshua.dubofsky@lw.com
	 	     	kristen.grannis@lw.com

 

or to such other address or addresses as
the parties may from time to time designate in writing. Copies delivered solely to outside counsel shall not constitute notice.

 

[SIGNATURE PAGES FOLLOW]

 

    14

     

    

 

IN WITNESS WHEREOF,
the Investor has executed or caused this Subscription Agreement to be executed by its duly authorized representative as of the
date set forth below.

 

	Name of Investor:	 	State/Country of Formation or Domicile:
	 	 	 
	 	 	 
	By:		 	 
	Name:		 	 
	Title:		 	 
	 	 	 
	Name in which Shares are to be registered (if different):	 	Date: ________, 2020
	 	 	 
	Investor’s EIN:	 	 
	 	 	 
	Business Address-Street:	 	Mailing Address-Street (if different):
	 	 	 
	City, State, Zip:	 	City, State, Zip:
	 	 	 
	Attn:	            	 	Attn:	           
	 	 	 
	Telephone No.:	 	Telephone No.:
	Facsimile No.:	 	Facsimile No.:
	 	 	 
	Number of Shares subscribed for:	 	 
	 	 	 
	Aggregate Subscription Amount: $	 	Price Per Share: $10.00

 

You must pay the Subscription
Amount by wire transfer of United States dollars in immediately available funds to the account specified by IPOB in the Closing
Notice.

 

[Signature Page
to Subscription Agreement]

 

    

     

    

 

IN WITNESS WHEREOF, IPOB has accepted
this Subscription Agreement as of the date set forth below.

 

	 	SOCIAL CAPITAL HEDOSOPHIA HOLDINGS
    CORP. II
	 	 
	 	 
	 	By:	
	 	     	Name:
	 	     	Title:

 

Date:                            ,
2020

 

[Signature
Page to Subscription Agreement]

 

    

     

    

 

SCHEDULE A

 

ELIGIBILITY REPRESENTATIONS OF THE INVESTOR

 

		A.	QUALIFIED INSTITUTIONAL BUYER STATUS

(Please check the applicable subparagraphs):

 

		 ̈	We are a “qualified institutional buyer” (as defined in Rule 144A under the Securities
Act).

 

		B.	INSTITUTIONAL ACCREDITED INVESTOR STATUS

(Please check the applicable subparagraphs):

 

		1.	 ̈ We are an “accredited investor”
(within the meaning of Rule 501(a) under the Securities Act) or an entity in which all of the equity holders are accredited
investors within the meaning of Rule 501(a) under the Securities Act, and have marked and initialed the appropriate
box on the following page indicating the provision under which we qualify as an “accredited investor.”

 

		2.	 ̈ We are not a natural person.

 

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

 

		 ̈	Any bank, registered broker or dealer, insurance company, registered investment company, business
development company, or small business investment company;

 

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

 

		 ̈	Any employee benefit plan, within the meaning of the Employee Retirement Income Security Act of
1974, if a bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets
in excess of $5,000,000;

 

		 ̈	Any organization described in Section 501(c)(3) of the Internal Revenue Code, corporation,
similar business trust, or partnership, not formed for the specific purpose of acquiring the securities offered, with total assets
in excess of $5,000,000;

 

		 ̈	Any trust with assets in excess of $5,000,000, not formed to acquire the securities offered, whose
purchase is directed by a sophisticated person; or

 

		 ̈	Any entity in which all of the equity owners are accredited investors meeting one or more of the
above tests.

 

This page should be completed
by the Investor

and constitutes a part of the Subscription Agreement.

 

 

[Schedule
A to Subscription Agreement]Exhibit 10.2 

 

EXECUTION
VERSION

 

SPONSOR
SUPPORT AGREEMENT

 

This
Sponsor Support Agreement (this “Sponsor Agreement”) is dated as of September 15, 2020, by and among SCH
Sponsor II LLC, a Cayman Islands exempted company (the “Sponsor Holdco”), the Persons set forth on Schedule
I hereto (together with the Sponsor Holdco, each, a “Sponsor” and, together, the “Sponsors”),
Social Capital Hedosophia Holdings Corp. II, a Cayman Islands exempted company limited by shares (which shall domesticate as a
Delaware corporation prior to the Closing (as defined in the Merger Agreement (as defined below))) (“Acquiror”),
and Opendoor Labs Inc., a Delaware corporation (the “Company”). Capitalized terms used but not defined herein
shall have the respective meanings ascribed to such terms in the Merger Agreement.

 

RECITALS

 

WHEREAS,
as of the date hereof, the Sponsors collectively are the holders of record and the “beneficial owners” (within the
meaning of Rule 13d-3 under the Exchange Act) of 10,350,000 Acquiror Common Shares and 6,133,333 Acquiror Warrants in the
aggregate as set forth on Schedule I attached hereto;

 

WHEREAS,
contemporaneously with the execution and delivery of this Sponsor Agreement, Acquiror, Hestia Merger Sub Inc., a Delaware corporation
(“Merger Sub”), and the Company, have entered into an Agreement and Plan of Merger (as amended or modified
from time to time, the “Merger Agreement”), dated as of the date hereof, pursuant to which, among other transactions,
Merger Sub is to merge with and into the Company, with the Company continuing on as the surviving entity and a wholly owned subsidiary
of Acquiror, on the terms and conditions set forth therein; and

 

WHEREAS,
as an inducement to Acquiror and the Company to enter into the Merger Agreement and to consummate the transactions contemplated
therein, the parties hereto desire to agree to certain matters as set forth herein.

 

AGREEMENT

 

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

 

ARTICLE I

SPONSOR SUPPORT AGREEMENT; COVENANTS

 

Section 1.1     Binding
Effect of Merger Agreement. Each Sponsor hereby acknowledges that it has read the Merger Agreement and this
Sponsor Agreement and has had the opportunity to consult with its tax and legal advisors. Each Sponsor shall be bound by and comply
with Sections 7.4 (No Solicitation by Acquiror) and 12.12 (Publicity) of the Merger Agreement (and any relevant
definitions contained in any such Sections) as if such Sponsor was an original signatory to the Merger Agreement with respect
to such provisions.

 

     

     

    

 

Section 1.2     No
Transfer. During the period commencing on the date hereof and ending on the earliest of (a) the Effective
Time, (b) such date and time as the Merger Agreement shall be terminated in accordance with Section 10.1 thereof (the
earlier of (a) and (b), the “Expiration Time”) and (c) the liquidation of Acquiror, each Sponsor
shall not (i) sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any option to purchase or otherwise
dispose of or agree to dispose of, directly or indirectly, file (or participate in the filing of) a registration statement with
the SEC (other than the Proxy Statement/Registration Statement) or establish or increase a put equivalent position or liquidate
or decrease a call equivalent position within the meaning of Section 16 of the Exchange Act, with respect to any Acquiror
Common Shares or Acquiror Warrants owned by such Sponsor, (ii) enter into any swap or other arrangement that transfers to
another, in whole or in part, any of the economic consequences of ownership of any shares of Acquiror Common Shares or Acquiror
Warrants owned by such Sponsor or (iii) publicly announce any intention to effect any transaction specified in clause (i) or
(ii).

 

Section 1.3     New
Shares. In the event that (a) any Acquiror Common Shares, Acquiror Warrants or other equity securities
of Acquiror are issued to a Sponsor after the date of this Sponsor Agreement pursuant to any stock dividend, stock split, recapitalization,
reclassification, combination or exchange of Acquiror Common Shares or Acquiror Warrants of, on or affecting the Acquiror Common
Shares or Acquiror Warrants owned by such Sponsor or otherwise, (b) a Sponsor purchases or otherwise acquires beneficial
ownership of any Acquiror Common Shares, Acquiror Warrants or other equity securities of Acquiror after the date of this Sponsor
Agreement, or (c) a Sponsor acquires the right to vote or share in the voting of any Acquiror Common Shares or other equity
securities of Acquiror after the date of this Sponsor Agreement (such Acquiror Common Shares, Acquiror Warrants or other equity
securities of Acquiror, collectively the “New Securities”), then such New Securities acquired or purchased
by such Sponsor shall be subject to the terms of this Sponsor Agreement to the same extent as if they constituted the Acquiror
Common Shares or Acquiror Warrants owned by such Sponsor as of the date hereof.

 

Section 1.4     Closing
Date Deliverables. On the Closing Date, the Sponsor Holdco and the Director Holders (as defined therein) shall
deliver to Acquiror and the Company a duly executed copy of that certain Amended and Restated Registration Rights Agreement, by
and among Acquiror, the Company, the Sponsor Holdco, certain of the Company’s stockholders or their respective affiliates,
as applicable, the Director Holders and the Investor Stockholders (as defined therein), in substantially the form attached as
Exhibit C to the Merger Agreement.

 

Section 1.5     Sponsor
Agreements.

 

(a)            At
any meeting of the shareholders of Acquiror, however called, or at any adjournment thereof, or in any other circumstance in which
the vote, consent or other approval of the shareholders of Acquiror is sought, each Sponsor shall (i) appear at each such
meeting or otherwise cause all of its Acquiror Common Shares to be counted as present thereat for purposes of calculating a quorum
and (ii) vote (or cause to be voted), or execute and deliver a written consent (or cause a written consent to be executed
and delivered) covering, all of its Acquiror Common Shares:

 

    2

     

    

 

(i)            in
favor of each Transaction Proposal;

 

(ii)           against
any Business Combination Proposal or any proposal relating to a Business Combination Proposal (in each case, other than the Transaction
Proposals);

 

(iii)          against
any merger agreement or merger (other than the Merger Agreement and the Merger), consolidation, combination, sale of substantial
assets, reorganization, recapitalization, dissolution, liquidation or winding up of or by Acquiror;

 

(iv)          against
any change in the business, management or Board of Directors of Acquiror (other than in connection with the Transaction Proposals);
and

 

(v)           against
any proposal, action or agreement that would (A) impede, frustrate, prevent or nullify any provision of this Agreement, the
Merger Agreement or any Merger, (B) result in a breach in any respect of any covenant, representation, warranty or any other
obligation or agreement of Acquiror or the Merger Sub under the Merger Agreement, (C) result in any of the conditions set
forth in Article IX of the Merger Agreement not being fulfilled or (D) change in any manner the dividend policy or capitalization
of, including the voting rights of any class of capital stock of, Acquiror.

 

Each
Sponsor hereby agrees that it shall not commit or agree to take any action inconsistent with the foregoing.

 

(b)            Each
Sponsor shall comply with, and fully perform all of its obligations, covenants and agreements set forth in, that certain Letter
Agreement, dated as of April 27, 2020, by and among the Sponsors and Acquiror (the “Voting Letter Agreement”),
including the obligations of the Sponsors pursuant to Section 1 therein to not redeem any Acquiror Common Shares owned by
such Sponsor in connection with the transactions contemplated by the Merger Agreement.

 

(c)            During
the period commencing on the date hereof and ending on the earlier of the consummation of the Closing and the termination of the
Merger Agreement pursuant to Article X thereof, each Sponsor shall not modify or amend any Contract between or among such
Sponsor, anyone related by blood, marriage or adoption to such Sponsor or any Affiliate of such Sponsor (other than Acquiror or
any of its Subsidiaries), on the one hand, and Acquiror or any of Acquiror’s Subsidiaries, on the other hand, including,
for the avoidance of doubt, the Voting Letter Agreement.

 

Section 1.6     Further
Assurances. Each Sponsor shall take, or cause to be taken, all actions and do, or cause to be done, all things
reasonably necessary under applicable Laws to consummate the Mergers and the other transactions contemplated by the Merger Agreement
on the terms and subject to the conditions set forth therein and herein.

 

    3

     

    

 

Section 1.7             No
Inconsistent Agreement. Each Sponsor hereby represents and covenants that such Sponsor has not entered into,
and shall not enter into, any agreement that would restrict, limit or interfere with the performance of such Sponsor’s obligations
hereunder.

 

ARTICLE II

REPRESENTATIONS AND WARRANTIES

 

Section 2.1             Representations
and Warranties of the Sponsors. Each Sponsor represents and warrants as of the date hereof to Acquiror and the
Company (solely with respect to itself, himself or herself and not with respect to any other Sponsor) as follows:

 

(a)            Organization;
Due Authorization. If such Sponsor is not an individual, it is duly organized, validly existing and in good standing under
the Laws of the jurisdiction in which it is incorporated, formed, organized or constituted, and the execution, delivery and performance
of this Sponsor Agreement and the consummation of the transactions contemplated hereby are within such Sponsor’s corporate,
limited liability company or organizational powers and have been duly authorized by all necessary corporate, limited liability
company or organizational actions on the part of such Sponsor. If such Sponsor is an individual, such Sponsor has full legal capacity,
right and authority to execute and deliver this Sponsor Agreement and to perform his or her obligations hereunder. This Sponsor
Agreement has been duly executed and delivered by such Sponsor and, assuming due authorization, execution and delivery by the
other parties to this Sponsor Agreement, this Sponsor Agreement constitutes a legally valid and binding obligation of such Sponsor,
enforceable against such Sponsor in accordance with the terms hereof (except as enforceability may be limited by bankruptcy Laws,
other similar Laws affecting creditors’ rights and general principles of equity affecting the availability of specific performance
and other equitable remedies). If this Sponsor Agreement is being executed in a representative or fiduciary capacity, the Person
signing this Sponsor Agreement has full power and authority to enter into this Sponsor Agreement on behalf of the applicable Sponsor.

 

(b)            Ownership.
Such Sponsor is the record and beneficial owner (as defined in the Securities Act) of, and has good title to, all of such Sponsor’s
Acquiror Common Shares and Acquiror Warrants, and there exist no Liens or any other limitation or restriction (including any restriction
on the right to vote, sell or otherwise dispose of such Acquiror Common Shares or Acquiror Warrants (other than transfer restrictions
under the Securities Act)) affecting any such Acquiror Common Shares or Acquiror Warrants, other than Liens pursuant to (i) this
Sponsor Agreement, (ii) the Acquiror Governing Documents, (iii) the Merger Agreement, (iv) the Voting Letter Agreement
or (v) any applicable securities Laws. Such Sponsor’s Acquiror Common Shares and Acquiror Warrants are the only equity
securities in Acquiror owned of record or beneficially by such Sponsor on the date of this Sponsor Agreement, and none of such
Sponsor’s Acquiror Common Shares or Acquiror Warrants are subject to any proxy, voting trust or other agreement or arrangement
with respect to the voting of such Acquiror Common Shares or Acquiror Warrants, except as provided hereunder and under the Voting
Letter Agreement. Other than the Acquiror Warrants, such Sponsor does not hold or own any rights to acquire (directly or indirectly)
any equity securities of Acquiror or any equity securities convertible into, or which can be exchanged for, equity securities
of Acquiror.

 

    4

     

    

 

(c)            No
Conflicts. The execution and delivery of this Sponsor Agreement by such Sponsor does not, and the performance by such Sponsor
of his, her or its obligations hereunder will not, (i) if such Sponsor is not an individual, conflict with or result in a
violation of the organizational documents of such Sponsor or (ii) require any consent or approval that has not been given
or other action that has not been taken by any Person (including under any Contract binding upon such Sponsor or such Sponsor’s
Acquiror Common Shares or Acquiror Warrants), in each case, to the extent such consent, approval or other action would prevent,
enjoin or materially delay the performance by such Sponsor of its, his or her obligations under this Sponsor Agreement.

 

(d)            Litigation.
There are no Actions pending against such Sponsor, or to the knowledge of such Sponsor threatened against such Sponsor, before
(or, in the case of threatened Actions, that would be before) any arbitrator or any Governmental Authority, which in any manner
challenges or seeks to prevent, enjoin or materially delay the performance by such Sponsor of its, his or her obligations under
this Sponsor Agreement.

 

(e)            Brokerage
Fees. Except as described on Section 5.13 of the Acquiror Disclosure Letter, no broker, finder, investment banker or
other Person is entitled to any brokerage fee, finders’ fee or other commission in connection with the transactions contemplated
by the Merger Agreement based upon arrangements made by such Sponsor, for which Acquiror or any of its Affiliates may become liable.

 

(f)            Affiliate
Arrangements. Except as set forth on Schedule II attached hereto, neither such Sponsor nor any anyone related by blood,
marriage or adoption to such Sponsor or, to the knowledge of such Sponsor, any Person in which such Sponsor has a direct or indirect
legal, contractual or beneficial ownership of 5% or greater is party to, or has any rights with respect to or arising from, any
Contract with Acquiror or its Subsidiaries.

 

(g)            Acknowledgment.
Such Sponsor understands and acknowledges that each of Acquiror and the Company is entering into the Merger Agreement in reliance
upon such Sponsor’s execution and delivery of this Sponsor Agreement.

 

ARTICLE III

MISCELLANEOUS

 

Section 3.1             Termination.
This Sponsor Agreement and all of its provisions shall terminate and be of no further force or effect upon the earliest of (a) the
Expiration Time, (b) the liquidation of Acquiror and (c) the written agreement of the Sponsor, Acquiror, and the Company.
Upon such termination of this Sponsor Agreement, all obligations of the parties under this Sponsor Agreement will terminate, without
any liability or other obligation on the part of any party hereto to any Person in respect hereof or the transactions contemplated
hereby, and no party hereto shall have any claim against another (and no person shall have any rights against such party), whether
under contract, tort or otherwise, with respect to the subject matter hereof; provided, however, that the termination of this
Sponsor Agreement shall not relieve any party hereto from liability arising in respect of any breach of this Sponsor Agreement
prior to such termination. This ARTICLE III shall survive the termination of this Agreement.

 

    5

     

    

 

Section 3.2            Governing
Law. This Sponsor Agreement, and all claims or causes of action (whether in contract or tort) that may be based
upon, arise out of or relate to this Sponsor Agreement or the negotiation, execution or performance of this Sponsor Agreement
(including any claim or cause of action based upon, arising out of or related to any representation or warranty made in or in
connection with this Sponsor Agreement) will be governed by and construed in accordance with the internal Laws of the State of
Delaware applicable to agreements executed and performed entirely within such State.

 

Section 3.3            CONSENT
TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL.

 

(a)            THE
PARTIES TO THIS SPONSOR AGREEMENT SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE STATE COURTS LOCATED IN WILMINGTON, DELAWARE OR
THE COURTS OF THE UNITED STATES LOCATED IN WILMINGTON, DELAWARE IN RESPECT OF THE INTERPRETATION AND ENFORCEMENT OF THE PROVISIONS
OF THIS SPONSOR AGREEMENT AND ANY RELATED AGREEMENT, CERTIFICATE OR OTHER DOCUMENT DELIVERED IN CONNECTION HEREWITH AND BY THIS
SPONSOR AGREEMENT WAIVE, AND AGREE NOT TO ASSERT, ANY DEFENSE IN ANY ACTION FOR THE INTERPRETATION OR ENFORCEMENT OF THIS SPONSOR
AGREEMENT AND ANY RELATED AGREEMENT, CERTIFICATE OR OTHER DOCUMENT DELIVERED IN CONNECTION HEREWITH, THAT THEY ARE NOT SUBJECT
THERETO OR THAT SUCH ACTION MAY NOT BE BROUGHT OR IS NOT MAINTAINABLE IN SUCH COURTS OR THAT THIS SPONSOR AGREEMENT MAY NOT
BE ENFORCED IN OR BY SUCH COURTS OR THAT THEIR PROPERTY IS EXEMPT OR IMMUNE FROM EXECUTION, THAT THE ACTION IS BROUGHT IN AN INCONVENIENT
FORUM, OR THAT THE VENUE OF THE ACTION IS IMPROPER. SERVICE OF PROCESS WITH RESPECT THERETO MAY BE MADE UPON ANY PARTY TO
THIS SPONSOR AGREEMENT BY MAILING A COPY THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO SUCH PARTY AT ITS ADDRESS
AS PROVIDED IN Section 3.8.

 

(b)            WAIVER
OF TRIAL BY JURY. EACH PARTY HERETO HEREBY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS SPONSOR
AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY
WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF
OR RELATING TO THIS SPONSOR AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS SPONSOR AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES
THAT (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER
PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (II) EACH SUCH PARTY UNDERSTANDS
AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (III) EACH SUCH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (IV) EACH
SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS SPONSOR AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS
IN THIS Section 3.3.

 

    6

     

    

 

Section 3.4     Assignment.
This Sponsor Agreement and all of the provisions hereof will be binding upon and inure to the benefit of the parties hereto and
their respective heirs, successors and permitted assigns. Neither this Sponsor Agreement nor any of the rights, interests or obligations
hereunder will be assigned (including by operation of law) without the prior written consent of the parties hereto.

 

Section 3.5     Specific
Performance. The parties hereto agree that irreparable damage may occur in the event that any of the provisions
of this Sponsor Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly
agreed that the parties hereto shall be entitled to seek an injunction or injunctions to prevent breaches of this Sponsor Agreement
and to enforce specifically the terms and provisions of this Sponsor Agreement in the chancery court or any other state or federal
court within the State of Delaware, this being in addition to any other remedy to which such party is entitled at law or in equity.

 

Section 3.6     Amendment.
This Sponsor Agreement may not be amended, changed, supplemented, waived or otherwise modified or terminated, except upon the
execution and delivery of a written agreement executed by Acquiror, the Company and the Sponsor Holdco.

 

Section 3.7     Severability.
If any provision of this Sponsor Agreement is held invalid or unenforceable by any court of competent jurisdiction, the other
provisions of this Sponsor Agreement will remain in full force and effect. Any provision of this Sponsor Agreement held invalid
or unenforceable only in part or degree will remain in full force and effect to the extent not held invalid or unenforceable.

 

Section 3.8     Notices.
All notices and other communications among the parties hereto shall be in writing and shall be deemed to have been duly given
(a) when delivered in person, (b) when delivered after posting in the United States mail having been sent registered
or certified mail return receipt requested, postage prepaid, (c) when delivered by FedEx or other nationally recognized overnight
delivery service or (d) when e-mailed during normal business hours (and otherwise as of the immediately following Business
Day), addressed as follows:

 

If to Acquiror:

 

Social Capital
Hedosophia Holdings Corp. II

 

317
University Avenue

Palo
Alto, California 94301

	Attention:	Steve Trieu
	Email:	steve@socialcapital.com

 

with a copy to
(which will not constitute notice):

 

    7

     

    

 

Skadden,
Arps, Slate, Meagher & Flom LLP

One Manhattan West

New York, New York 10001

	Attention:	Howard L. Ellin
	 	Christopher M. Barlow
	Email:	howard.ellin@skadden.com
	 	christopher.barlow@skadden.com

 

If to the
Company:

 

Opendoor
Labs Inc.

1 Post Street,
Floor 11

San Francisco,
CA 94104

	Attention:	Legal Department
	Email:	legal@opendoor.com

 

with
a copy to (which shall not constitute notice):

 

Latham &
Watkins LLP

885
Third Ave

New
York, NY 10022

	Attention:	Justin G. Hamill
	 	Joshua Dubofsky
	 	Kristen Grannis
	Email:	justin.hamill@lw.com
	 	joshua.dubofsky@lw.com
	 	kristen.grannis@lw.com

 

If to a Sponsor:

 

To such Sponsor’s
address set forth in Schedule I

with a copy to
(which will not constitute notice):

 

Skadden,
Arps, Slate, Meagher & Flom LLP

One Manhattan West

New York, New York 10001

	Attention:	Howard L. Ellin
	 	Christopher M. Barlow
	Email:	howard.ellin@skadden.com
	 	christopher.barlow@skadden.com

 

Section 3.9       Counterparts.
This Sponsor Agreement may be executed in two or more counterparts (any of which may be delivered by electronic transmission),
each of which shall constitute an original, and all of which taken together shall constitute one and the same instrument.

 

Section 3.10     Entire
Agreement. This Sponsor Agreement and the agreements referenced herein constitute the entire agreement and understanding
of the parties hereto in respect of the subject matter hereof and supersede all prior understandings, agreements or representations
by or among the parties hereto to the extent they relate in any way to the subject matter hereof.

 

[THE
REMAINDER OF THIS PAGE IS INTENTIONALLY BLANK]

 

    8

     

    

 

IN
WITNESS WHEREOF, the Sponsors, Acquiror, and the Company have each caused this Sponsor Support Agreement to be duly executed as
of the date first written above.

 

	 	SPONSORS :
	 	 	 
	 	SCH SPONSOR II LLC
	 	 	 
	 	 	 
	 	By:	/s/ Chamath Palihapitiya
	 	 	Name:	Chamath Palihapitiya
	 	 	Title:	Chief Executive Officer

 

 

	 	/s/ Chamath Palihapitiya
	 	Name:	Chamath
    Palihapitiya
	 	 	 
	 	/s/ Ian
    Osborne
	 	Name:	Ian
    Osborne
	 	 	 
	 	/s/ Adam
    Bain
	 	Name:	Adam
    Bain
	 	 	 
	 	/s/ David
    Spillane
	 	Name:	David
    Spillane
	 	 	 
	 	/s/ Cipora
    Herman
	 	Name:	Cipora
    Herman
	 	 	 
	 	/s/ Steven
    Trieu
	 	Name:	Steven
    Trieu

 

[Signature
Page to Sponsor Support Agreement]

 

    

     

    

 

	 	ACQUIROR:
	 	 	 
	 	SOCIAL
CAPITAL HEDOSOPHIA HOLDINGS CORP. II
	 	 
	 	        
	 	By:	/s/ Chamath Palihapitiya
	 	 	Name:	Chamath Palihapitiya
	 	 	Title:	Chief Executive Officer

 

[Signature
Page to Sponsor Support Agreement]

 

    

     

    

 

	 	COMPANY:
	 	 	 
	 	OPENDOOR LABS
INC.
	 	 
	 	        
	 	By:	/s/ Eric Wu
	 	 	Name:	 Eric Wu
	 	 	Title:	Chief Executive Officer

 

[Signature
Page to Sponsor Support Agreement]

 

    

     

    

 

Schedule
I

 

Sponsor
Acquiror Common Shares and Acquiror Warrants

 

	Sponsor	 	Acquiror
    Common Shares	 	 	Acquiror Warrants	 
	SCH Sponsor II LLC 
 

                                                                                c/o Social Capital Hedosophia Holding Corp. II 
317 University Ave, Suite 200, Palo Alto, CA 94301
	 	 	10,150,000	 	 	 	6,133,333	 
	Chamath Palihapitiya 
  
c/o Social Capital Hedosophia Holding Corp. II 
317 University Ave, Suite 200, Palo Alto, CA 94301	 	 	—	(1)	 	 	—	(1)
	Ian Osborne 
  
c/o Social Capital Hedosophia Holding Corp. II 
317 University Ave, Suite 200, Palo Alto, CA 94301	 	 	—	(1)	 	 	—	(1)
	Adam Bain 
  
c/o Social Capital Hedosophia Holding Corp. II 
317 University Ave, Suite 200, Palo Alto, CA 94301	 	 	—	 	 	 	—	 
	David Spillane 
  
c/o Social Capital Hedosophia Holding Corp. II 
317 University Ave, Suite 200, Palo Alto, CA 94301	 	 	100,000	 	 	 	—	 
	Cipora Herman 
  
c/o Social Capital Hedosophia Holding Corp. II 
317 University Ave, Suite 200, Palo Alto, CA 94301	 	 	100,000	 	 	 	—	 
	Steven Trieu 
  
c/o Social Capital Hedosophia Holding Corp. II 
317 University Ave, Suite 200, Palo Alto, CA 94301	 	 	—	 	 	 	—	 

 

(1)            Messrs. Palihapitiya
and Osborne may be deemed to beneficially own securities held by SCH Sponsor II LLC by virtue of their shared control over SCH
Sponsor II LLC. Each of Messrs. Palihapitiya and Osborne disclaims beneficial ownership of securities held by SCH Sponsor
II LLC.

  

[Schedule
I to Sponsor Support Agreement]

 

    

     

    

 

Schedule
II

 

Affiliate
Agreements

 

		1.	Letter
                                         Agreement, dated April 20, 2020, among Acquiror and Connaught (UK) Limited

 

		2.	Letter
                                         Agreement, dated April 27, 2020, among the Acquiror, SCH Sponsor II LLC and each
                                         of the other parties thereto

 

		3.	Registration
                                         Rights Agreement, dated April 27, 2020, between the Acquiror, SCH Sponsor II LLC
                                         and certain other security holders named therein

 

		4.	Administrative
                                         Services Agreement, dated April 27, 2020, between the Acquiror and Social Capital
                                         Holdings, Inc., which shall terminate at Closing without further liability, cost,
                                         payment or other obligation of the Acquiror

 

		5.	Indemnity
                                         Agreement, dated April 27, 2020, between the Company and Ian Osborne

 

		6.	Indemnity
                                         Agreement, dated April 27, 2020, between the Company and Adam Bain

 

		7.	Indemnity
                                         Agreement, dated April 27, 2020, between the Company and David Spillane

 

		8.	Indemnity
                                         Agreement, dated April 27, 2020, between the Company and Cipora Herman

 

		9.	Indemnity
                                         Agreement, dated April 27, 2020, between the Company and Steven Trieu

 

		10.	Indemnity
                                         Agreement, dated April 27, 2020, between the Company and Simon Williams

 

[Schedule
II to Sponsor Support Agreement]

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