Document:

abio-ex101_7.htm

Exhibit 10.1

OFFICE LEASE AGREEMENT

CHURCH RANCH OFFICE CENTER
10170 Church Ranch Way

Westminster, Colorado 80021

TABLE OF CONTENTS

	
Article 1. SUMMARY AND DEFINITION OF CERTAIN LEASE PROVISIONS AND EXHIBITS
	
3

	
Article 2. PREMISES/RIGHT TO USE COMMON AREAS
	
5

	
Article 3. TERM
	
5

	
Article 4. MINIMUM MONTHLY RENT
	
6

	
Article 5. ADDITIONAL RENT
	
6

	
Article 6. PARKING
	
7

	
Article 7. RENT TAX AND PERSONAL PROPERTY TAXES
	
7

	
Article 8. PAYMENT OF RENT/LATE CHARGES/INTEREST ON PAST-DUE OBLIGATIONS
	
7

	
Article 9. SECURITY DEPOSIT
	
7

	
Article 10. CONSTRUCTION OF THE PREMISES
	
8

	
Article 11. ALTERATIONS
	
8

	
Article 12. PERSONAL PROPERTY/SURRENDER OF PREMISES
	
9

	
Article 13. LIENS
	
9

	
Article 14. USE OF PREMISES/RULES AND REGULATIONS
	
9

	
Article 15. RIGHTS RESERVED BY LANDLORD
	
10

	
Article 16. QUIET ENJOYMENT
	
10

	
Article 17. MAINTENANCE AND REPAIR
	
10

	
Article 18. UTILITIES AND JANITORIAL SERVICES
	
11

	
Article 19. ENTRY AND INSPECTION
	
11

	
Article 20. ACCEPTANCE OF THE PREMISES/LIABILITY INSURANCE
	
11

	
Article 21. CASUALTY INSURANCE
	
12

	
Article 22. DAMAGE AND DESTRUCTION OF PREMISES
	
12

	
Article 23. EMINENT DOMAIN
	
13

	
Article 24. ASSIGNMENT AND SUBLETTING
	
13

	
Article 25. SALE OF PREMISES BY LANDLORD
	
14

	
Article 26. SUBORDINATION/ATTORNMENT/MODIFICATION/ASSIGNMENT
	
15

	
Article 27. LANDLORD'S DEFAULT AND RIGHT TO CURE
	
15

	
Article 28. ESTOPPEL CERTIFICATES
	
15

	
Article 29. TENANT'S DEFAULT AND LANDLORD'S REMEDIES
	
16

	
Article 30. TENANT'S RECOURSE
	
18

	
Article 31. HOLDING OVER
	
18

	
Article 32. GENERAL PROVISIONS
	
18

	
Article 33. NOTICES
	
20

	
Article 34. BROKER'S COMMISSIONS
	
21

	
Article 35. INDEMNIFICATION/WAIVER OF SUBROGATION
	
21

	
Article 36. WAIVERS
	
22

 

 

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EXHIBITS:

(A)LAND

(A-1) PREMISES

(B)RULES AND REGULATIONS

(C)PARKING RULES AND REGULATIONS

(D)TENANT IMPROVEMENTS

(E)CONFIRMATION OF COMMENCEMENT DATE 

(F)RENEWAL RIGHT 

 

 

 

 

 

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OFFICE LEASE AGREEMENT

 

CHURCH RANCH OFFICE CENTER

10170 Church Ranch Way

Westminster, Colorado 80021

__________________________________

THIS OFFICE LEASE AGREEMENT, dated effective as of August 7, 2020, is made and entered into by and between POTENS PARTNERS LLC, a Colorado limited liability company ("Landlord"), and ARCA Biopharma, Inc.  ("Tenant"). In consideration of the mutual promises set forth in this Lease, Landlord and Tenant agree as follows:

Article 1.  SUMMARY AND DEFINITION OF CERTAIN LEASE PROVISIONS AND EXHIBITS

	
1.1
	
The following terms and provisions of this Lease, as modified by other terms and provisions hereof, are included in this Section 1.1 for summary and definitional purposes only. If there is any conflict or inconsistency between any term or provision in this Section 1.1 and any other term or provision of this Lease, the other term or provision of this Lease shall control:

	
 
	
(a)
	
Address of Landlord for Notices: Potens Partners LLC

c/o Crista Quick

2618 San Miguel Drive, #265

Newport Beach, CA 92660

 

	
 
	
(b)
	
Address of Tenant for Notices:The Premises (hereinafter defined)

 

	
 
	
(c)
	
Lease Term:  Forty-two (42) months, commencing on October 1, 2020 (the "Commencement Date") Landlord delivers possession of the Premises to Tenant pursuant to the terms of this Lease (“Landlord Delivery Date”) and expiring at midnight on March 31, 2024 the date that is forty-two (42) full calendar months from the Commencement Date (the “Expiration Date”).

	
 
	
(d)
	
Building: The office building commonly known as Building 4 of Church Ranch Office Center with an address of 10170 Church Ranch Way, Westminster, Colorado 80021 (the "Building") upon the land more particularly described on Exhibit A attached hereto (the “Land”).

	
 
	
(e)
	
Premises: Suite 100 of the Building consisting of approximately 5,183 Rentable Square Feet and generally depicted on Exhibit A-1 attached hereto, and including certain Tenant Improvements to the extent provided in Exhibit D.

	
 
	
(f)
	
Minimum Monthly Rent: 

			
	
LEASE MONTHS
	
ANNUAL RENT RATE PER RENTABLE SQUARE FOOT 
	
MINIMUM MONTHLY RENT

	
1 – 5
	
$0.00*
	
$0.00*

	
6 – 17
	
$16.50
	
$7,126.63

	
18 – 29  
	
$17.00
	
$7,342.58

3

 

			
	
LEASE MONTHS
	
ANNUAL RENT RATE PER RENTABLE SQUARE FOOT 
	
MINIMUM MONTHLY RENT

	
30 – 42  
	
$17.50
	
$7,558.54

 (plus any applicable Rent Tax for each full calendar month of the Lease Term)

*Partial year. Minimum Monthly Rent only is abated for the first five (5) months of the Lease Term (“Abatement Period”) as shown above (the “Abatement”), which Abatement is valued at $35,633.13. The Abatement is conditioned upon Tenant’s full and timely performance of all of its obligations under the Lease.  If at any time during the Term an Event of Default by Tenant occurs which is not cured within applicable notice and cure periods, then the Abatement shall automatically be deemed void effective as of the date of this Lease, and Tenant shall promptly pay to Landlord, in addition to all other amounts due to Landlord under the Lease (and without waiver of Landlord’s other rights and remedies for a monetary default under the Lease), the unamortized amount of the Abatement received by Tenant. The Abatement shall automatically be deemed as terminated one (1) day prior to the filing of a petition by or against Tenant: (1) in any bankruptcy or other insolvency proceeding; (2) seeking any relief under any state or federal debtor relief law; or (3) for the appointment of a liquidator or receiver for all or substantially all of Tenant’s property or for Tenant’s interest in the Lease.

	
 
	
(g)
	
Security Deposit: A Security Deposit of $11,748.13 is required and shall be deposited with Landlord at the time this Lease is signed by Tenant.

	
 
	
(h)
	
Parking:  Tenant shall have the right to unreserved, unassigned parking spaces in the surface lot, and the covered parking facility.  In addition Tenant shall have access to four (4) covered parking spaces in the parking facility (“Tenant’s Parking Spaces”), subject to the conditions in Article 6 below.  

	
1.2
	
The following exhibits ("Exhibits") are attached hereto and incorporated herein by this reference:

	
 
	
Exhibit A
	
Land

	
 
	
Exhibit A-1
	
Premises

	
 
	
Exhibit B
	
Rules and Regulations

	
 
	
Exhibit C
	
Parking Rules and Regulations

	
 
	
Exhibit D
	
Tenant Improvements

	
 
	
Exhibit E
	
Confirmation of Commencement Date

	
 
	
Exhibit F
	
Renewal Right

 

This Office Lease Agreement and the Exhibits are collectively referred to herein as this "Lease."

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Article 2.  PREMISES/RIGHT TO USE COMMON AREAS

	
2.1
	
Landlord leases to Tenant and Tenant leases from Landlord the Premises, subject to the terms and provisions of this Lease. This Lease is subject to all liens, encumbrances, parking and access easements, restrictions, covenants, and all other matters of record, the Rules and Regulations described in Article 14 and the Parking Rules and Regulations described in Article 6. Tenant and Tenant's authorized agents, contractors, customers, directors, employees, invitees, officers, and patrons (each, a “Tenant Permittee”) have a non-exclusive privilege and license, during the Lease Term, to use the non-restricted Common Areas in common with all other authorized users thereof. Tenant shall have access to the Premises twenty-four (24) hours per day, every day of the year, subject to force majeure, the express terms of this Lease, and such after-normal business hours security procedures as Landlord may require.

	
2.2
	
For purposes of this Lease, the following terms have the definitions set forth below:

	
 
	
(a)
	
"Automobile Parking Areas" means all areas designated by Landlord for automobile parking upon the Land. Automobile Parking Areas are Common Areas, but certain parking areas may be restricted. (See Parking Rules & Regulations).

	
 
	
(b)
	
"Common Areas" means any part of the Building and Land intended for the common use of tenants and visitors, including parking areas, private streets and alleys, landscaping, curbs, loading areas, lighting facilities, public restrooms, elevators, and the like.  Landlord reserves the right from time to time to change the dimensions and location of Common Areas, as well as the dimensions, locations and types of any buildings, signs or other improvements on the Land.

	
 
	
(c)
	
"Project" means the Building located at 10170 Church Ranch Way, Westminster, Colorado, and the parcel(s) of land containing said Building, any expansions, additions, or new or additional building(s), and any neighboring building(s) known as Church Ranch Office Center.

	
 
	
(d)
	
"Rentable Square Footage" means (1) with respect to the Building, the sum of the total area of the Building, computed by measuring pursuant to BOMA standards; and (2) with respect to the Premises, the area of the Premises computed by measuring pursuant to BOMA to the exterior surface of permanent outside walls and to the midpoint of demising walls, plus an allocation of the square footage of the Common Areas located within the Building.  The parties hereby acknowledge and agree that the Premises is 5,183 Rentable Square Feet.

	
 
	
(e)
	
“Business Day” shall mean Monday through Friday of each week, excluding Holidays.

	
 
	
(f)
	
“Holidays” shall mean New Year's Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, Christmas Day, and such other additional Holidays as are commonly observed in the area where the Building is located.

Article 3.  TERM

The Lease Term and the Commencement Date shall be as specified in Section 1.1. Landlord shall provide the Premises on or before the Commencement Date. By occupying the Premises, Tenant shall be deemed to have accepted the Premises in their existing condition as of the date of such occupancy. Prior to occupying the Premises, Tenant shall execute and deliver to Landlord a letter substantially in the form of Exhibit E hereto confirming: (1) the Commencement Date (as defined in the Basic Lease Information) and the expiration date of the initial Term (as defined in the Basic Lease Information); (2) that Tenant has accepted the Premises; and (3) that Landlord has performed all of its obligations with respect to the Premises, if any; however, the failure of the parties to execute such letter shall not defer the 

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Commencement Date or otherwise invalidate this Lease. Tenant's failure to execute such document within ten (10) days of receipt thereof from Landlord shall be deemed to constitute Tenant's agreement to the contents of such document. Landlord may permit Tenant to occupy of the Premises beginning on upon lease signing ("Early Occupancy"), to install Tenant’s equipment, phone, cabling and furnishings, provided that Tenant does not interfere with Landlord’s completion of any Work (as defined in Exhibit D), and Landlord has received the Security Deposit, Advance Rental, and proof that Tenant has obtained all insurance required under this Lease.  Any Early Occupancy shall be subject to all terms and provisions of this Lease, except the payment of Minimum Monthly Rent.  

Article 4.  MINIMUM MONTHLY RENT

Tenant shall pay to Landlord, without deduction, setoff, prior notice, or demand, the Minimum Monthly Rent, payable in advance on the first Business Day of each calendar month during the Lease Term. If the Lease Term commences on a date other than the first day of a calendar month, the Minimum Monthly Rent for that month shall be prorated on a per diem basis and be paid to Landlord on or before the Commencement Date.  

Article 5.  ADDITIONAL RENT

	
5.1
	
Tenant shall pay as additional rent each year the amount of Tenant's Share of Operating Costs during each Operating Year of the Lease Term.  “Tenant’s Share” means an amount equal to the product of the Rentable Square Footage of the Premises multiplied by the actual per square foot Operating Costs during the applicable Operating Year of the Lease Term.  If the Lease Term begins or ends anytime other than the first or last day of an Operating Year, Operating Costs and the Tenant's Share thereof shall be prorated. Prior to the end of each Operating Year, Landlord shall provide Tenant with a written statement of Landlord's estimate of Operating Costs and the estimate of Tenant's Share (the “Estimated Share”) for the next succeeding Operating Year. Tenant shall pay Landlord, concurrently with each payment of the Minimum Monthly Rent for the next Operating Year, an amount equal to one-twelfth (1/12) of the amount of the Estimated Share. Landlord may revise the Estimated Share and adjust the required monthly payment accordingly not more than once during the Operating Year. Within ninety (90) days after the end of each Operating Year, or as soon thereafter as reasonably possible, Landlord shall provide Tenant with a reconciliation statement (“Operating Statement”) showing Tenant's Share of the actual Operating Costs for the preceding Operating Year (the "Actual Share").  If the Actual Share exceeds the Estimated Share paid by Tenant during that Operating Year, Tenant shall pay the excess at the time the next succeeding payment of Minimum Monthly Rent is payable (or within ten (10) days if the Lease Term has expired or been terminated). If the Actual Share is less than the Estimated Share paid by Tenant, Landlord shall apply such excess to payments next falling due under this Article (or refund the same to Tenant within thirty (30) days after the expiration or termination of this Lease or credit amounts due from Tenant if the Lease Term has expired or been terminated). For purposes of this Lease (a) "Operating Costs" means and includes all reasonable out of pocket costs of management, maintenance, repair, and operation of the Project, including but not limited to the costs of cleaning, repairs, utilities, air conditioning, heating, plumbing, elevator, parking, landscaping, insurance, property taxes and special assessments, and all other costs which can properly be considered operating expenses, but excluding costs of land or building additions, alterations for tenants, leasing commissions, advertising, depreciation, interest, income taxes, and costs not incurred in the management, maintenance and operation of the Project; and (b) "Operating Year" means a calendar year beginning January 1 and ending December 31. Tenants with leases expiring or terminating prior to the end of the Operating Year shall be responsible for their portion of Operating Costs based on Landlord's estimate of Operating Costs (but subject to adjustment based 

6

 

		
on the Actual Share, as provided above).  Landlord shall cap annual increases in controllable operating expenses at 3%.

	
5.2
	
Tenant shall have an annual right, at Tenant’s sole cost and expense, to audit Landlord’s Operating Statement upon the following terms and conditions.  Tenant shall notify Landlord in writing that it is exercising its right to audit within ninety (90) days following delivery of the Operating Statement. The audit shall take place at a time mutually convenient to Landlord and Tenant.  Except as the parties may otherwise agree in writing, the audit shall be completed within thirty (30) days after commencement. The audit must be performed by a nationally or regionally recognized public accounting firm that is engaged on either a fixed price or hourly basis, and is not compensated on a contingency or bonus basis.  The records reviewed shall be treated as confidential.  A copy of the results of the audit shall be delivered to Landlord within thirty (30) days after the completion of the audit.  If Landlord and Tenant determine that the Actual Share for the Operating Year is less than reported, Landlord shall give Tenant a credit in the amount of the overpayment toward Tenant’s next monthly payment of Tenant’s Share, or, in the event the Lease has expired or terminated, Landlord shall pay Tenant the total amount of such overpayment within thirty (30) days.  If Landlord and Tenant determine that Actual Share for the Operating Year is more than reported, Tenant shall pay Landlord the amount of any underpayment within thirty (30) days. 

Article 6.  PARKING

Nothing contained herein shall be deemed to create liability upon Landlord for any damage to motor vehicles of Tenant or Tenant's Permittees, or from loss of property from within such motor vehicles while parked in the Automobile Parking Areas. Landlord has the right to establish and to enforce against all users of the Automobile Parking Areas, reasonable rules and regulations (the "Parking Rules and Regulations").

Article 7.  RENT TAX AND PERSONAL PROPERTY TAXES

Tenant shall pay to Landlord, in addition to, and simultaneously with, any other amounts payable to Landlord under this Lease, a sum equal to the aggregate of any municipal, county, state, or federal excise, sales, use, or transaction privilege tax now or hereafter legally levied or imposed against, or on account of, any amounts payable under this Lease by Tenant or upon the receipt thereof by Landlord (collectively, "Rent Tax"). Tenant shall pay, prior to delinquency, all taxes levied upon fixtures, furnishings, equipment, and personal property placed in the Premises by Tenant.

Article 8.  PAYMENT OF RENT/LATE CHARGES/INTEREST ON PAST-DUE OBLIGATIONS

Tenant shall pay the Rent and all other charges specified in this Lease to Landlord at the address set forth on Section 1.1 of this Lease, or to another person at another address as Landlord from time to time designates in writing.  All monetary obligations of Tenant, including Minimum Monthly Rent, Additional Rent, or other charges payable by Tenant to Landlord under the terms of this Lease shall be deemed "Rent", and any Rent not received within ten (10) days after the due date (the "Delinquency Date") thereof shall automatically (and without notice) incur a late charge of five percent (5%) of the delinquent amount.  Any such late charge and interest shall be payable as Additional Rent under this Lease, shall not be considered a waiver by Landlord or a cure by Tenant of any default by Tenant, and shall be payable immediately on demand; provided, however, that interest shall not accrue on late charges incurred.

Article 9.  SECURITY DEPOSIT

Tenant shall simultaneously with the delivery of the executed copy of this Lease deposit with Landlord the Security Deposit, as security for Tenant’s full and faithful performance of all terms and provisions of this 

7

 

Lease, the balance of which (without interest) shall be returned to Tenant within forty five (45) days after expiration of the Term or earlier termination of this Lease, provided that Tenant has discharged its obligations to Landlord in full, and peaceably returned possession of the Premises in reasonable condition and good repair. If at any time an Event of Default by Tenant exists that remains uncured after the expiration of any applicable cure period in this Lease, then Landlord shall be entitled to apply all or any part of the Security Deposit to cure such default, or to compensate Landlord for actual damages that it may sustain by reason of Tenant’s default, and upon such application by Landlord the Tenant shall within five (5) business days after Landlord’s demand promptly pay an amount sufficient to restore the full amount of the Security Deposit. Tenant acknowledges that the amount of the Security Deposit does not represent a limitation or cap on the amount of Landlord’s damages.

Article 10.  CONSTRUCTION OF THE PREMISES

Tenant acknowledges that the Premises are located in the Building, that Tenant has had an opportunity to inspect the Premises, and that Landlord has issued no warranty or representation concerning the present condition or suitability for Tenant’s use.  Except as set forth in Exhibit D attached hereto, Tenant accepts the Premises in its “AS-IS” condition and agrees that Landlord has no obligation to pay for or perform any work, improvements, or construction.  Landlord shall not be obligated to reimburse Tenant, or pay or provide any allowance for costs related to any improvements, except as may be provided in Exhibit D.  Any work performed by Tenant or any fixtures or personal property moved into the Premises by Tenant shall be at Tenant's sole risk and expense, and Tenant's entry and use shall be subject to all provisions of this Lease.

Article 11.  ALTERATIONS

After completion of Landlord’s construction obligations under Article 10, if any, Tenant shall not make or cause to be made any other or further additions, alterations, improvements, Utility Installations or repairs (collectively, “Alterations”) in or upon the Premises, without the prior written consent of Landlord not to be unreasonably withheld, conditioned or delayed. As used in this Article, the term "Utility Installation" shall mean carpeting, window and wall coverings, power panels, electrical distribution systems, lighting fixtures, air conditioning, plumbing, telephone and telecommunication wiring, and related cabling and equipment. At the expiration of the Lease Term, Landlord may require the removal of any and all of said additions, alterations, improvements or Utility Installations, and the reasonable restoration (but not including Work performed pursuant to Exhibit D) of the Premises to its prior condition, at Tenant's expense.  Should Landlord permit Tenant to make Tenant’s own additions, alterations, improvements or Utility Installations, Tenant may only use such contractor as has been expressly pre-approved by Landlord.  Landlord’s approval of Tenant’s contractor shall not be unreasonably withheld so long as such contractor is duly licensed in Colorado and properly insured. Should Tenant make any additions, alterations, improvements or Utility Installations without the prior approval of Landlord, or use a contractor not expressly approved by Landlord, Landlord may, at any time, without prejudice to any other remedy available to Landlord, require that Tenant remove all or any part of the same. All additions, alterations, improvements and Utility Installations (except trade fixtures of Tenant), which may be made to the Premises by Tenant, including but not limited to floor coverings, panels, doors, drapes, built-ins, moldings, sound attenuation, lighting and telephone or communication systems, conduit, wiring and outlets, shall be made and done in a good, diligent, workmanlike manner in compliance with all applicable laws, ordinances and building codes, and of good and sufficient quality and materials, and shall be and become the property of Landlord and remain upon and be surrendered with the Premises at the expiration of the Lease Term, unless Landlord requires their removal as described above. Provided Tenant is not in default, notwithstanding the provisions of this Article, Tenant's personal property and equipment, other than that 

8

 

which is affixed so that it cannot be removed without material damage to the Premises or Building, shall remain the property of Tenant and may be removed by Tenant. Tenant shall provide Landlord with as-built plans and specifications for any additions, alterations, improvements or Utility Installations.  All voice, data, video, audio and other low voltage control transport system cabling and/or cable bundles installed in the Building by Tenant or its contractor shall be installed in compliance with applicable EIA/TIA and National Electric Code Standards.At the Expiration Date or upon the earlier termination of the Lease Term, Tenant shall surrender the Premises in good condition and repair, broom-clean, reasonable wear and tear excepted, and shall deliver all keys to Landlord.

Article 12.  NO LIENS

Tenant shall keep the Premises, Building, and Project free from any lien or claim arising out of work contracted-for or performed, materials furnished, or obligations incurred by Tenant or Tenant's Permittees, or the failure of Tenant to pay any bill or comply with any law. In the event that any lien or claim attaches or is threatened against the Premises, Building, or Project, and Tenant does not pay and discharge such lien or post adequate surety bond within ten (10) Business Days after demand by Landlord, such event shall be a default by Tenant and, in addition to Landlord's other rights and remedies, Landlord may take any action necessary to discharge the lien at Tenant’s expense.

Article 13.  USE OF PREMISES/RULES AND REGULATIONS

	
13.1
	
Tenant shall not use the Premises for any use other than for general business office purposes (the “Permitted Use”). Tenant shall comply with all laws, ordinances, rules and regulations applicable to Tenant’s use and occupancy of the Premises. Tenant agrees to keep the Premises in a clean and sanitary condition, and not to suffer or permit any act or omission in the Building which would increase any insurance premiums or would cause the cancellation of any insurance policies. Tenant shall not use, generate, manufacture, store, or dispose of, in, under, or about the Premises, the Building, or the Project, or handle or transport to or from the Premises, the Building, or the Project, any Hazardous Material, other than in strict compliance with all applicable laws. For purposes of this Lease, "Hazardous Materials" includes, but is not limited to: (i) flammable, explosive, or radioactive materials, hazardous wastes, toxic substances, or related materials; (ii) all substances defined as "hazardous substances," "hazardous materials," "toxic substances," or "hazardous chemical substances or mixtures" in the Comprehensive Environmental Response Compensation and Liability Act of 1980, as amended, 42 U.S.C. § 9601, et seq., as amended by Superfund Amendments and Re-authorization Act of 1986; the Hazardous Materials Transportation Act, 49 U.S.C. § 1901, et seq.; the Resource Conservation and Recovery Act, 42 U.S.C. § 6901, et seq.; the Toxic Substances Control Act, 15 U.S.C. § 2601, et seq.; (iii) those substances listed in the United States Department of Transportation Table (49 CFR 172.10 and amendments thereto) or by the Environmental Protection Agency (or any successor agent) as hazardous substances (40 CFR Part 302 and amendments thereto); (iv) any material, waste, or substance which is (A) petroleum, (B) asbestos, (C) polychlorinated biphenyl's, (D) designated as a "hazardous substance" pursuant to § 311 of the Clean Water Act, 33 U.S.C. S 1251 et seq. (33 U.S.C. § 1321) or listed pursuant to the Clean Water Act (33 U.S.C. § 1317); (E) flammable explosives; or (F) radioactive materials; and (v) all substances defined as "hazardous wastes" under Colorado law (the “State”).

	
13.2
	
Tenant shall comply with the rules and regulations of the Building attached hereto as Exhibit B.  Landlord may, from time to time upon prior written notice to Tenant, change such rules and regulations for the safety, care, or cleanliness of the Building and related facilities, provided that such changes apply to all tenants, will not unreasonably interfere with Tenant’s Permitted Use, and are enforced by Landlord in a non-discriminatory manner. Tenant shall be responsible for the compliance 

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with such rules and regulations by any party claiming by, through, or under Tenant including any employee, contractor, subtenant, assignee, or invitee of Tenant.

Article 14.  RIGHTS RESERVED BY LANDLORD

In addition to all other rights, Landlord has the following rights, exercisable without notice to Tenant and without effecting an eviction, constructive or actual, and without giving rise to any claim or right of set off or abatement of Rent, so long as the exercise of such rights do not interfere with Tenant’s rights under this Lease: (a) to make repairs, alterations, additions, changes, or improvements in and about the Building; (b) to approve the weight, size, and location of any heavy objects allowed in or about the Premises and the Building, and to require all such items to be moved into and out of the Building and Premises in such manner as Landlord shall direct; (c) to prohibit the placing of vending machines in or about the Premises without the prior written consent of Landlord; (d) to take such reasonable measures for the safety and security of the Building and its occupants (provided that Landlord shall have no obligation to provide any such security unless required by law); and (e) to temporarily block off parking spaces or Common Areas for maintenance, delivery, or construction purposes.

Article 15.  QUIET ENJOYMENT

For so long as Tenant is not in default, Tenant may quietly enjoy and occupy the Premises for the Permitted Use during the Lease Term, without unreasonable interference, subject to all terms and conditions of this Lease, the Rules and Regulations, and the Parking Rules and Regulations.

Article 16.  MAINTENANCE AND REPAIR

	
16.1
	
Landlord shall, subject to reimbursement for Operating Costs, keep and maintain in good repair and working order, reasonable wear and tear excepted: (1) structural elements of the Building; (2) standard mechanical (including HVAC), electrical, plumbing, and fire/life safety systems serving the Building generally, together with air filters for the HVAC and standard light fixtures, as applicable; (3) Common Areas; (4) the roof and structure of the Building; (5) exterior windows of the Building; and (6) elevators serving the Building.  Tenant shall give prompt written notice of any required repairs to Landlord and Landlord shall have a reasonable time after receipt of such notice in which to commence repair.  If Landlord would be required to perform any maintenance or make any repairs because of: (a) modifications to the roof, walls, foundation, and floor of the Building required by Tenant’s design for improvements, alterations and additions; or (b) installation of Tenant’s improvements, fixtures, or equipment; or (c) a negligent or wrongful act of Tenant or Tenant’s Permittees; or, (d) Tenant’s failure to perform any of Tenant’s obligations under this Lease beyond any notice and cure period provided herein, then Landlord may perform the maintenance or repairs and Tenant shall pay Landlord the reasonable and necessary cost thereof upon demand.

	
16.2
	
Except as expressly set forth in Section 16.1 above, Tenant shall at Tenant’s expense keep and maintain in good repair and working order the Premises and all equipment and appurtenances, normal wear and tear excepted. Except for any damage caused by Landlord or its contractors or employees, Tenant at its expense agrees to: (a) repair or replace all ceiling and wall finishes (including paint) and floor or window coverings which require repair or replacement during the Lease Term; (b) maintain and repair interior partitions, doors, electronic, phone and data cabling and related equipment installed by or for the benefit of Tenant and serving the Premises; and (c) maintain and repair: (i) all supplemental air conditioning units, private showers and kitchens including hot water heaters, plumbing, dishwashers, ice machines and similar facilities serving Tenant exclusively, (ii)  phone rooms used exclusively by Tenant, (iii) alterations performed by contractors retained by or on behalf of Tenant, and (iv) all of Tenant's furnishings, trade fixtures, equipment and inventory. 

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16.3
	
Notwithstanding anything in this Lease to the contrary, to the extent the terms and provisions of Article 21 conflict with, or are inconsistent with, the terms and provisions of this Article 16, the terms and provisions of Article 21 shall control. 

Article 17.  UTILITIES AND JANITORIAL SERVICES

Other than Landlord’s maintenance obligations, Landlord shall not be obligated to provide any services to Tenant; provided, however, Landlord shall provide (i) basic water and electricity to the Premises suitable for general office use; (ii) basic heating, ventilation and air conditioning (“HVAC”) to the Premises during Building Hours (Monday – Friday, 7:00 a.m. – 6:00 p.m. and Saturday, 9:00 a.m. – 1:00 p.m., excluding Holidays) (“Standard HVAC Hours”) for normal office use; and (iii) regular janitorial services for the Building (excluding carpet cleaning and floor polishing) during such hours as determined by Landlord. Any after-hours HVAC service provided to the Premises (other than Standard HVAC Hours) shall be subject to additional charges (currently $35.00 per hour). Tenant shall remain obligated to pay Tenant’s Share of utilities or services furnished to the Common Areas.  Except as provided below, Landlord shall not be liable for damages, nor shall rent or other charges abate, in the event of any failure or interruption of any utility service supplied to the Premises or Building by a regulated utility or municipality, or any failure of a Building system supplying such service, and no such failure or interruption shall entitle Tenant to abate rent or terminate this Lease.

Article 18.  ENTRY AND INSPECTION

Landlord shall have the right to enter into the Premises at reasonable times for the purpose of inspecting the Premises and reserves the right, during the last six (6) months of the Lease Term, to show the Premises at reasonable times to prospective tenants, with at least 24 hours notice to tenant. Landlord shall be permitted to take any reasonable action under this Article without causing any abatement of Rent or liability to Tenant for any loss of quiet enjoyment, nor shall such action by Landlord be deemed an actual or constructive eviction.

Article 19.  ACCEPTANCE OF THE PREMISES/LIABILITY INSURANCE 

	
19.1
	
All personal property and fixtures belonging to Tenant shall be placed on the Premises at Tenant's sole risk and expense. All existing furniture, fixtures, etc. located within the Premises is available for Tenant’s use, at no additional charge.  If Tenant exercises its Option to Renew and/or expands in the Building, then at the end of the lease term, if Tenant isn’t in default, ownership of the existing FF&E shall transfer to Tenant.  Tenant shall have the right to reconfigure existing workstations, and Landlord will remove any excess FF&E Tenant doesn’t use, at Landlord’s sole cost and expense. Upon taking possession of the Premises and thereafter during the Lease Term, the Tenant shall, at Tenant's sole cost and expense, maintain insurance coverage with the following minimum limits: (a) Worker's Compensation Insurance, minimum as defined by applicable Colorado law; (b) Employer's Liability Insurance, minimum limit $1,000,000; (c) Commercial General Liability Insurance, Bodily Injury/Property, Damage Insurance (including the following coverages: Premises/Operations, Independent Contractors, Broad Form Contractual in support of the indemnification obligations of Tenant under this Lease, and Bodily and Personal Injury Liability), minimum combined single limit $2,000,000; and (d) if Tenant owns or leases and vehicles, Automobile Liability Insurance, minimum limit $1,000,000. All such policies shall include a waiver of subrogation in favor of Landlord and shall name Landlord and such other party or parties as Landlord may require as additional insureds, by written policy Endorsement. Tenant's insurance shall be primary, with any insurance maintained by Landlord to be considered excess. Tenant's insurance shall be maintained with an insurance company qualified to do business in Colorado and having a current A.M. Best manual rating of at least A-VIII or 

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better. Before any entry into the Premises and before expiration of any policy, evidence of these coverages represented by Certificates of Insurance and policy Endorsements issued by the insurance carrier must be furnished to Landlord. Certificates of Insurance should specify the Endorsements providing additional insured status, the waiver of subrogation, and that such insurance is primary, and any other insurance is excess, and the policies shall provide that Landlord will be notified in writing thirty (30) days before any cancellation, material change, or non-renewal of insurance.

	
19.2
	
During the entire Lease Term, Landlord agrees to maintain public liability insurance in such forms and amounts as Landlord shall determine in its commercially reasonable discretion.  The cost of the insurance obtained under this Section 19.2 shall be an Operating Cost under Article 5 of this Lease.

Article 20.  CASUALTY INSURANCE 

	
20.1
	
Tenant shall maintain fire and extended coverage insurance (full replacement value) on Alterations, personal property and trade fixtures owned or used by Tenant, including business interruption coverage.

	
20.2
	
Landlord shall maintain property insurance for the Building’s replacement value, less a commercially reasonable deductible if Landlord so chooses including endorsements as determined by Landlord throughout the Lease Term on the Building (excluding Tenant's trade fixtures and personal property). At Landlord's option, the policy of insurance may include a business interruption insurance endorsement for loss of rents. The cost of the insurance obtained under this Section 20.2 shall be an Operating Cost under Article 5 of this Lease.

Article 21.  DAMAGE AND DESTRUCTION OF PREMISES

	
21.1
	
If the Premises or the Building are damaged by fire or other casualty (a "Casualty"), Landlord shall use good faith efforts to deliver to Tenant within sixty (60) days after such Casualty a good faith estimate (the "Damage Notice") of the time needed to repair the damage caused by such Casualty.

	
21.2
	
If a material portion of the Premises is damaged by Casualty such that Tenant is prevented from conducting its business in the Premises in a manner reasonably comparable to that conducted immediately before such Casualty and Landlord estimates that the damage caused thereby cannot be repaired within one hundred twenty (120) days after the date of the Casualty (the "Repair Period"), then Tenant may terminate this Lease by delivering written notice to Landlord of its election to terminate within thirty (30) days after the Damage Notice has been delivered to Tenant.

	
21.3
	
If a Casualty damages the Premises or a material portion of the Building and: (1) Landlord estimates that the damage to the Premises cannot be repaired within the Repair Period; (2) the damage to the Premises exceeds fifty percent (50%) of the replacement cost thereof (excluding foundations and footings), as estimated by Landlord, and such damage occurs during the last two (2) years of the Lease Term; (3) regardless of the extent of damage to the Premises, Landlord makes a good faith determination that restoring the Building would be uneconomical; or (4) Landlord is required to pay any insurance proceeds arising out of the Casualty to a Landlord's Mortgagee, then Landlord may terminate this Lease by giving written notice of its election to terminate within thirty (30) days after the Damage Notice has been delivered to Tenant.

	
21.4
	
If neither party elects to terminate this Lease following a Casualty, then Landlord shall, within a reasonable time after such Casualty, begin to repair the Premises and shall proceed with reasonable diligence to restore the Premises to substantially the same condition as they existed immediately before such Casualty; however, other than building standard leasehold improvements Landlord shall 

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not be required to repair or replace any Alterations or betterments within the Premises (which shall be promptly and with due diligence repaired and restored by Tenant at Tenant's sole cost and expense) or any furniture, equipment, trade fixtures or personal property of Tenant or others in the Premises or the Building, and Landlord's obligation to repair or restore the Premises shall be limited to the extent of the insurance proceeds actually received by Landlord for the Casualty in question. If this Lease is terminated under the provisions of this Article 22, Landlord shall be entitled to the full proceeds of the insurance policies providing coverage for all alterations, improvements and betterments in the Premises.

	
21.5
	
If the Premises are damaged by Casualty, Rent for the portion of the Premises rendered un-tenantable by the damage shall be abated on a reasonable basis from the date of damage until the completion of Landlord's repairs (or until the date of termination of this Lease by Landlord or Tenant as provided above, as the case may be), unless Tenant or a Tenant Permittee caused such damage, in which case, Tenant shall continue to pay Minimum Monthly Rent and all other rent without abatement and Tenant shall be liable to Landlord for the cost and expense of the repair and restoration of the Premises or the Building caused thereby to the extent that costs and expense are not covered by insurance proceeds.

Article 22.  EMINENT DOMAIN

	
22.1
	
If the entire Building or Premises are taken by right of eminent domain or conveyed in lieu thereof (a "Taking"), this Lease shall terminate as of the date of the Taking.

	
22.2
	
If any part of the Building becomes subject to a Taking and such Taking will prevent Tenant from conducting its business in the Premises in a manner reasonably comparable to that conducted immediately before such Taking for a period of more than one hundred eighty (180) days, then Tenant may terminate this Lease as of the date of such Taking by giving written notice to Landlord within thirty (30) days after the Taking, and Rent shall be apportioned as of the date of such Taking. If Tenant does not terminate this Lease, then Rent shall be abated on a reasonable basis as to that portion of the Premises rendered un-tenantable by the Taking.

	
22.3
	
If any material portion, but less than all, of the Building becomes subject to a Taking, or if Landlord is required to pay any of the proceeds arising from a Taking to a Landlord's Mortgagee, then Landlord may terminate this Lease by delivering written notice thereof to Tenant within thirty (30) days after such Taking, and Rent shall be apportioned as of the date of such Taking. If Landlord does not so terminate this Lease, then this Lease will continue.

	
22.4
	
If any Taking occurs, Tenant shall be entitled to any portion of the condemnation award allocated expressly as compensation for taking of Tenant’s personal property and fixtures (reduced by any unamortized portion of the Tenant Improvement Allowance, amortized on a straight line basis over the Lease Term, which amount shall be paid to Landlord) or for Tenant’s moving expenses and business relocating expenses and damages to Tenant’s business incurred as a result of such Taking.

Article 23.  ASSIGNMENT AND SUBLETTING

	
23.1
	
Tenant shall not assign, mortgage, or pledge this Lease, and shall not sublet all or any part of the Premises, without Landlord's prior written consent, which shall not be unreasonably withheld, conditioned or delayed. Without limitation, it is agreed that Landlord's consent shall not be considered unreasonably withheld if: (1) the proposed transferee's business reputation and/or financial condition is unacceptable to Landlord in its commercially reasonable discretion; (2) such transferee’s proposed use is not suitable for the Building considering the business of the other 

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tenants, or would result in a violation of another tenant's rights; (3) the proposed transferee is a governmental agency or occupant of the Project; (4) Tenant is in default after the expiration of any applicable notice and cure period in this Lease; or (5) any portion of the Premises or Building would likely become subject to additional or different laws as a consequence of the proposed assignment or subletting. Tenant shall not be entitled to receive any monetary damages based upon any claim that Landlord unreasonably withheld consent to a proposed sublease or assignment, and Tenant's sole remedy shall be an action to enforce this Lease through specific performance or declaratory judgment. Any attempted sublease or assignment in violation of this Article shall, at Landlord's option, be void ab initio and voidable by Landlord. Consent by Landlord to one or more subleases or assignments shall not operate as a waiver of Landlord's rights to approve any subsequent sublease or assignment request. Any assignment or subletting hereunder shall not release or discharge Tenant from any liability under this Lease, and Tenant shall continue to be fully liable unless expressly released and discharged in writing by Landlord. As part of any request for Landlord's consent to a proposed sublease or assignment, Tenant shall provide Landlord with financial statements for the proposed transferee, a complete set of business terms for the proposed sublease or assignment, proposed contract documents, and such other information as Landlord may reasonably request. Landlord shall, by written notice to Tenant within thirty (15) days of its receipt of the required information either consent to the transaction by the execution of a consent document in form and substance reasonably designated by Landlord, or refuse to consent stating the reasons therefor in writing. If Tenant shall assign or sublet this Lease, or request the consent of Landlord to any assignment or subletting, or if Tenant shall request the consent of Landlord for any act Tenant proposes to do, then Tenant shall pay Landlord's reasonable costs and expenses incurred in connection therewith, including attorneys', architects', engineers' or other consultants' fees, not to exceed $2,500.00. Consent by Landlord to one assignment, subletting, occupation, or use by another person shall not be deemed to be consent to any subsequent assignment, subletting, occupation, or use by any other person. Tenant shall pay fifty percent (50%) of any rent and other consideration which Tenant receives as a result of a sublease or assignment (after deducting all legal, marketing, and commission expenses, rent abatement, and Tenant Improvements contributions) , that is in excess of the Rent payable to Landlord hereunder. If Tenant is a corporation, unless listed on a national stock exchange, the transfer, assignment or hypothecation of voting control in such corporation shall be deemed an assignment under this Section. Tenant agrees to immediately notify Landlord of any change in its ownership.

	
23.2
	
Tenant shall have the right, with the prior written consent of Landlord, not to be unreasonably withheld, conditioned, or delayed, to assign the Lease or sublease all of the Premises to an Affiliate (as defined below) entity with substantially the same credit as Tenant and whose use of the Leased Premises is consistent with the nature of other uses of occupants of the Building.  The term "Affiliate" of Tenant shall mean an entity which is (a) controlled by, controls, or is under common control with Tenant; (b) any entity with which Tenant has merged or consolidated, or (c) any entity which acquires all or substantially all of the assets of Tenant, and which continues to operate substantially the same business at the Leased Premises as Tenant. The term "control," or "controlled" as used in this section shall mean the ownership, directly or indirectly, of a controlling percentage of the voting interest in such entity.

Article 24.  SALE OF PREMISES BY LANDLORD

In the event of any sale of the Building or the property upon which the Building is located or any assignment of this Lease by Landlord (or a successor in title), the assignee or purchaser shall be deemed, without any further agreement between the parties, to have assumed and agreed to carry out any and all 

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of the covenants and obligations of Landlord under this Lease, and shall be substituted as Landlord for all purposes from and after such sale or assignment, and Landlord (or such successor) shall then be released and discharged of all liability under any and all of Landlord's covenants and obligations contained in this Lease or arising out of any act, occurrence, or omission occurring after such sale or assignment; provided, however, that Landlord shall transfer any portion of the Security Deposit then being held by Landlord to the successor.  

Article 25.  SUBORDINATION/ATTORNMENT/MODIFICATION/ASSIGNMENT

Tenant's interest under this Lease is subordinate to all terms of and all liens and interests arising under any ground lease, deed of trust, or mortgage (each, as renewed, modified and/or extended from time to time) now or hereafter placed on the Landlord's interest in the Premises, the Building, or the Project. Tenant consents to an assignment of Landlord's interest in this Lease to Landlord's lender as may be required under such financing. If the Premises or the Building is sold as a result of a default under the mortgage, or pursuant to a transfer in lieu of foreclosure, Tenant shall, at the mortgagee's, purchaser's or ground lessor's sole election, attorn to the mortgagee or purchaser.  This Article is self-operative provided that any subordination is contingent on the lender’s agreement (“Non-disturbance Agreement”) not to disturb Tenant’s rights under the Lease, provided Tenant is not in default of the Lease beyond any applicable cure period.  However, Tenant agrees to execute and deliver upon request, such further instruments in commercially reasonable form necessary to subordinate this Lease to the lien of any mortgage or deed of trust, to acknowledge the consent to assignment, and to affirm the attornment provisions set forth herein, provided that said agreement includes a Non-disturbance Agreement.

Article 26.  LANDLORD'S DEFAULT AND RIGHT TO CURE 

Landlord shall not be in default unless Landlord fails to commence performance of obligations required of Landlord within a commercially reasonable time, not to exceed thirty (30) days after written notice by Tenant to Landlord and to the holder of any first mortgage or deed of trust covering the Premises whose name and address shall have theretofore been furnished to Tenant in writing, specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord's obligation is such that more than thirty (30) days are required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently pursues the same to completion.

Article 27.  ESTOPPEL CERTIFICATE

Tenant shall at any time and from time to time upon request by Landlord, execute, acknowledge, and deliver to Landlord, within fifteen (15) Business Days after demand by Landlord, a statement in writing certifying (a) that this Lease is unmodified and in full force and effect (or if there have been modifications, that the same is in full force and effect as modified and stating such modifications), (b) the dates to which the Minimum Monthly Rent and other rent and charges have been paid in advance, if any, (c) Tenant's acceptance and possession of the Premises, (d) the commencement of the Lease Term, (e) the Rent provided under this Lease, (f) that Landlord is not in default under this Lease (or if Tenant claims such default, the nature thereof), (g) that Tenant claims no offsets against the Rent, and (h) such other information as may be requested regarding this Lease or the tenancy created by this Lease. Tenant's failure to deliver such statement within such time shall be conclusive upon Tenant (i) that this Lease is in full force and effect, without modification except as may be represented by Landlord, (ii) that there are no uncured defaults in Landlord's performance, and (iii) that not more than one month's Rent has been paid in advance.

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Article 28.  TENANT'S DEFAULT AND LANDLORD'S REMEDIES

	
28.1
	
Tenant will be in default under this Lease if any of the following occurs, and same shall be deemed an “Event of Default”:

	
 
	
(a)
	
If Tenant fails to pay the Minimum Monthly Rent or make any other payment required by this Lease when due, and such payment default is not cured within five (5) Business Days after Landlord provides notice of such failure. 

	
 
	
(b)
	
If Tenant assigns this Lease or mortgages its interest in this Lease or sublets any part of the Premises without first obtaining Landlord's written consent.

	
 
	
(c)
	
If Tenant abandons the Premises or becomes bankrupt or insolvent, or makes any general assignment of all or a substantial part of its property for the benefit of creditors, or if a receiver is appointed to operate Tenant's business or to take possession of all or a substantial part of Tenant's property.

	
 
	
(d)
	
If a lien attaches to this Lease or to Tenant's interest in the Premises, and Tenant fails to post a bond or other security or to have the lien released within twenty (20) Business Days of its notification thereof, or if a mortgagee institutes proceedings to foreclose its mortgage against Tenant's leasehold interest or other property and Tenant fails to have the foreclosure proceedings dismissed within twenty (20) Business Days after the entry of any judgment or order declaring the mortgage to be valid and Tenant to be in default on the obligation secured thereby, or directing enforcement of the mortgage.

	
 
	
(e)
	
If Tenant breaches any other provision of this Lease, and fails to perform and cure the breach within thirty (30) days after Landlord sends written notice of the breach, or if performance cannot reasonably be completed within thirty (30) days, then if Tenant does not proceed with reasonable diligence to cure the breach within such additional time as may be reasonably necessary under the circumstances.

	
28.2
	
Upon an Event of Default by Tenant, then Landlord may take any one or more of the following actions:

	
 
	
(a)
	
Landlord may re-enter and take possession of all or any part of the Premises and remove Tenant and any person claiming under Tenant from the Premises, using reasonable force, if necessary, and without committing a trespass or becoming liable for any loss or damage that may be occasioned thereby. Landlord may also change the locks to the Premises without notice at Tenant's expense. Tenant specifically acknowledges and agrees that any re-entry and re-possession of the Premises by Landlord will not by themselves terminate this Lease.

	
 
	
(b)
	
Landlord may remove any property, including fixtures, from the Premises and store the same at Tenant's expense in a warehouse or any other location, or Landlord may lease the property on the Premises pending sale or other disposition. If Landlord leaves the property on the Premises or stores it at another location owned or controlled by Landlord, then Landlord may charge Tenant a reasonable fee for storing and handling the property comparable to what Landlord would have had to pay to a third party for such services. Landlord will not be liable under any circumstance to Tenant or to anyone else for any damage to the property. Landlord may proceed to sell Tenant's property, which shall be sold in accordance with the laws of the State.

	
 
	
(c)
	
Landlord may collect any rents or other payments that become due from any subtenant, concessionaire or licensee, and may in its own name or in Tenant's name bring suit for such 

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amounts, and settle any claims therefore, without approving the terms of the sublease or Tenant's agreement with the concessionaire or licensee and without prejudice to Landlord's right to terminate the sublease or agreement without cause and remove the subtenant, concessionaire or licensee from the Premises.  All of the foregoing amounts shall be applied to Tenant’s obligations under this Lease.

	
 
	
(d)
	
Landlord may re-let the Premises at whatever rent and on whatever terms and conditions it deems advisable. The term of any new lease may be shorter or longer than the remaining Lease Term. In reletting the Premises, Landlord may make any alterations or repairs to the Premises it feels necessary or desirable; may subdivide the Premises into more than one unit and lease each portion separately; may sell Tenant's improvements, fixtures and other property located on the Premises to the new tenant, or include such improvements, fixtures and property as part of the Premises without additional cost; may advertise the Premises for sale or lease; may hire brokers or other agents; and, may do anything else it deems necessary or helpful in reletting the Premises. Tenant will be liable to Landlord for all costs and expenses of the reletting including but not limited to rental concessions to the new tenant, broker's commissions and tenant improvements, and will remain liable for the Minimum Monthly Rent and all other charges arising under this Lease, less any income received from the new tenant, unless this Lease is terminated as set forth below. 

	
 
	
(e)
	
Landlord may terminate this Lease at any time after Tenant defaults by sending a written notice to Tenant expressly stating that this Lease is being terminated. Termination will be effective on the date of the notice or on any other date set forth in the notice. Until Landlord sends Tenant such a notice, this Lease will remain in full force and effect, and Tenant will remain liable for paying the Minimum Monthly Rent and other charges that come due under this Lease and for performing all other terms and conditions of this Lease. No other action by Landlord, including repossession of the Premises, removing or selling Tenant's separate property, reletting the Premises, or filing suit for possession or for damages, will terminate this Lease or release Tenant from its continuing liability for complying with the terms and conditions.

	
 
	
(f)
	
Landlord may recover from Tenant all costs and expenses Landlord incurs as a direct or indirect consequence of Tenant's breach, including the cost of storing and selling Tenant's property, reletting the Premises, and bringing suit against Tenant for possession or damages. If Landlord made or paid for any improvements to the Premises, or granted Tenant any improvement allowance or credit against the Minimum Monthly Rent or other charges due hereunder for Tenant's improvements, then Landlord shall also be entitled to recover the unamortized portion of the cost of such improvements or the amount of such allowance or credit, determined by multiplying the total amount of such cost or allowance or credit by a fraction, the denominator of which is the total number of months of the initial Lease Term and the numerator of which is the number of months of the Lease Term remaining at the time of Tenant's default. Also, if this Lease provides for any months for which no Minimum Monthly Rent or a reduced Minimum Monthly Rent is payable, or for any other rent concession to Tenant, then, upon default, Tenant shall become liable for the unamortized amount of the Minimum Monthly Rent (or other rent concession), plus applicable taxes, for such months, and Landlord shall be entitled to recover as additional rent the amount that would have been payable by Tenant for such months if the Minimum Monthly Rent provided for herein had been payable by Tenant throughout the entire Lease Term. Unless Landlord terminates this Lease, Tenant will also remain liable for any difference between the Minimum Monthly Rent and other charges called for by this Lease and the rent and other charges collected by Landlord from any new tenant. For any month in which 

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Landlord collects less from a successor tenant than is payable under this Lease, Landlord may demand that Tenant immediately make up the difference, and Landlord may bring suit against Tenant if Tenant fails to do so. If Landlord does terminate this Lease, then Tenant will no longer be liable on a continuing monthly basis for the Minimum Monthly Rent and other charges that would have become due under this Lease thereafter, but Tenant will remain liable for all sums accrued under this Lease to the date of termination, as well as for all costs and expenses incurred by Landlord, and any other damages sustained by Landlord, as a consequence of Tenant's breach. Also Landlord may recover from Tenant the difference between the present value at the date of termination to the end of the Lease Term and the present value of the Minimum Monthly Rent and other charges Landlord could have obtained if Landlord had rented the Premises for the same period at its fair rental value at the end of termination. The present value of the amounts referred to in the preceding sentence shall be computed using a discount rate equal to the prime rate charged by Wells Fargo Bank (or its successor) at the date of termination.

	
 
	
(g)
	
Landlord may sue Tenant for possession of the Premises, for damages for breach of this Lease, and for other appropriate relief, either in the same or in separate actions. Landlord may recover all costs and expenses it incurs in any such suit, including reasonable attorneys' fees.

	
 
	
(h)
	
Landlord may exercise any other right or remedy available at Colorado law or in equity for breach of contract, damages or other appropriate relief. The rights and remedies described herein are cumulative, and Landlord's exercise of any one right will not preclude the simultaneous or subsequent exercise of any other right or remedy.

	
28.3
	
If Tenant is in arrears in payment of Rent, Tenant waives its right, if any, to designate the items to which any payments made by Tenant are to be credited, and Landlord may apply any payments made by Tenant to such items as Landlord sees fit in its commercially reasonable discretion, irrespective of any designation or request by Tenant as to the items to which any such payment shall be credited.

Article 29.  TENANT'S RECOURSE

Anything in this Lease to the contrary notwithstanding, Tenant agrees to look solely to the estate of Landlord in the Building, subject to the prior rights of any ground lessor, mortgagee, or deed of trust of the Building or any part thereof, for the collection of any judgment requiring the payment of money by Landlord in the event of any default by Landlord under this Lease. Tenant agrees that it is prohibited from using any other procedures for the satisfaction of Tenants' remedies. Neither Landlord nor any of its respective officers, directors, employees, heirs, successors, or assigns, shall have any personal liability of any kind or nature, directly or indirectly, under or in connection with this Lease.

Article 30.  HOLDING OVER

If Tenant holds over after the Expiration Date, or any extension thereof, Tenant shall be a tenant at sufferance, the Minimum Monthly Rent shall be increased to 150% of the then-current Base Rent, payable in advance on the first day of such holdover period and on the first day of each month thereafter, and all other terms and provisions of this Lease shall continue to apply, month-to-month.  

Article 31.  GENERAL PROVISIONS

	
31.1
	
This Lease is governed by the laws of Colorado.

	
31.2
	
If Tenant is composed of more than one person or entity, then the obligations of such parties are joint and several.

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31.3
	
If any term, condition, covenant, or provision of this Lease is held by a court of competent jurisdiction to be invalid, void, or unenforceable, the remainder of the terms, conditions, covenants, and provisions hereof shall remain in full force and effect and shall not be impaired or invalidated.

	
31.4
	
The various headings and numbers herein and the grouping of the provisions of this Lease into separate articles and sections are for the purpose of convenience only.

	
31.5
	
Time is of the essence of this Lease.

	
31.6
	
Other than for Tenant's obligations to pay money (e.g., payment of Rent, maintenance of insurance, Tenant’s obligations under Exhibit D), whenever a period of time is herein prescribed for action to be taken by either party hereto, such party shall not be liable or responsible for, and there shall be excluded from the computation of any such period of time, delays due to strikes, riots, acts of God, shortages of labor or materials, war, acts of terrorism, governmental laws, regulations, or restrictions, or any other causes of any kind whatsoever which are beyond the control of such party.

	
31.7
	
In the event either party initiates legal proceedings or retains an attorney to enforce any right or obligation under this Lease or to obtain relief for the breach of any covenant hereof, the prevailing party shall be entitled to recover all costs and reasonable attorneys' fees from the other party.

	
31.8
	
This Lease, and any Exhibit attached hereto, sets forth all the terms, conditions, covenants, provisions, promises, agreements, and undertakings, either oral or written, between the Landlord and Tenant. No subsequent alteration, amendment, change, or addition to this Lease is binding upon Landlord or Tenant unless reduced to writing and signed by both parties.

	
31.9
	
The covenants herein contained shall apply to and bind the heirs, successors, executors, personal representatives, legal representatives, administrators, and assigns of all the parties hereto.

	
31.10
	
No term, condition, covenant, or provision of this Lease shall be waived except by written waiver of Landlord, and the forbearance or indulgence by Landlord in any regard whatsoever shall not constitute a waiver of the term, condition, covenant, or provision to be performed by Tenant to which the same shall apply, and until complete performance by Tenant of such term, condition, covenant, or provision, Landlord shall be entitled to invoke any remedy available under this Lease or by law despite such forbearance or indulgence. The waiver by Landlord of any breach or term, condition, covenant, or provision hereof shall apply to and be limited to the specific instance involved and shall not be deemed to apply to any other instance or to any subsequent breach of the same or any other term, condition, covenant, or provision hereof. Acceptance of rent by Landlord during a period in which Tenant is in default in any respect other than payment of rent shall not be deemed a waiver of the other default. Any payment made in arrears shall be credited to the oldest amount outstanding and no contrary application will waive this right.

	
31.11
	
The use of a singular term in this Lease shall include the plural and the use of the masculine, feminine, or neuter genders shall include all others.

	
31.12
	
Landlord's submission of a copy of this Lease form to any person, including Tenant, shall not be deemed to be an offer to lease or the creation of a lease, unless and until this Lease has been fully signed and delivered by Landlord.

	
31.13
	
Every term, condition, covenant, and provision of this Lease, having been negotiated in detail and at arm's length by both parties, shall be construed simply according to its fair meaning and not strictly for or against Landlord or Tenant.

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31.14
	
If the time for the performance of any obligation under this Lease expires on a Saturday, Sunday, or legal holiday, the time for performance shall be extended to the next succeeding Business Day which is not a Saturday, Sunday, or legal holiday.

	
31.15
	
If requested by Landlord, Tenant shall execute written documentation with signatures acknowledged by a notary public, to evidence when and if Landlord or Tenant has met certain obligations under this Lease.

	
31.16
	
Within fifteen (15) days after Landlord’s request, but no more than once per calendar year, Tenant will furnish Tenant’s most recent audited financial statements to Landlord, or, if no such audited statements have been prepared, such other financial statements as may have been prepared by an accountant or, failing those, Tenant’s internally prepared financial statements.

	
31.17
	
Tenant represents and warrants as follows:

	
 
	
(i)
	
Tenant represents and warrants to, and covenants with, Landlord that neither Tenant nor any of its respective constituent owners or affiliates currently are, or shall be at any time during the Lease Term hereof, in violation of any laws relating to terrorism or money laundering (collectively, the “Anti-Terrorism Laws”), including without limitation Executive Order No. 13224 on Terrorist Financing, effective September 24, 2001 and relating to Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism (the “Executive Order”) and/or the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Public Law 107-56) (the “USA Patriot Act”).

	
 
	
(ii)
	
Tenant represents and warrants to, and covenants with Landlord that neither Tenant nor any of its respective constituent owners or affiliates is or shall be during the Lease Term a “Prohibited Person,” which is defined as follows:  (A) a person or entity that is listed in the Annex to, or is otherwise subject to, the provisions of the Executive Order; (B) a person or entity owned or controlled by, or acting for or on behalf of, any person or entity that is listed in the Annex to, or is otherwise subject to the provisions of, the Executive Order; (C) a person or entity with whom Landlord is prohibited from dealing with or otherwise engaging in any transaction by any Anti-Terrorism Law, including without limitation the Executive Order and the USA Patriot Act; (D) a person or entity who commits, threatens or conspires to commit or support “terrorism” as defined in Section 3(d) of the Executive Order; (E) a person or entity that is named as a “specially designated national and blocked person” on the then-most current list published by the U.S. Treasury Department Office of Foreign Assets Control at its official website, http://www.treas.gov/offices/eotffc/ofac/sdn/t11sdn.pdf, or at any replacement website or other replacement official publication of such list; and (F) a person or entity who is affiliated with a person or entity listed in items (A) through (E), above.

	
 
	
(iii)
	
At any time and from time-to-time during the Lease Term, Tenant shall deliver to Landlord, within ten (10) Business Days after receipt of a written request therefor, a written certification or such other evidence reasonably acceptable to Landlord evidencing and confirming Tenant’s compliance with this Section 32.17.

Article 32.  NOTICES

Wherever in this Lease it is required or permitted that notice or demand be given or served by either party to or on the other, such notice or demand shall be in writing and shall be given or served and shall not be 

20

 

deemed to have been duly given or served unless (a) in writing; and (b) either (1) deposited with the United States Postal Service, as registered or certified mail, return receipt requested, bearing adequate postage, or (2) sent by overnight express courier (including, without limitation, Federal Express, DHL Worldwide Express, Airborne Express, United States Postal Service Express Mail); and (c) addressed to the party at its address in Section 1.1. Either party may change such address by written notice to the other. 

Article 33.  BROKER COMMISSIONS

Tenant represents and warrants that there are no claims for brokerage commissions or finder's fees in connection with this Lease (excepting commissions to The Colorado Group, Inc., representing Landlord and Chad Kollar of Cresa, representing Tenant). Tenant shall indemnify, defend and hold Landlord harmless for, from and against all costs, expenses, attorneys' fees, liens and other liability for commissions or other compensation claimed by any broker or agent claiming the same by, through or under Tenant. The foregoing indemnity shall survive the expiration or earlier termination of this Lease.

Article 34.  INDEMNIFICATION/WAIVER OF SUBROGATION

	
34.1
	
Tenant shall indemnify, defend, and hold Landlord and any lender of Landlord, and their respective partners, trustees, officers, directors, shareholders, members, beneficiaries, agents and employees, harmless against all Claims (as defined below) and costs incurred by Landlord arising from: (a) any act or omission of Tenant or Tenant's Permittees during the Lease Term which results in personal injury, loss of life, or property damage sustained in or about the Premises, the Building, or the Project; (b) attachment or discharge of any lien or claim against the Premises, the Building, or the Project caused by Tenant  or Tenant’s Permitees; (c) Tenant's and/or Tenant's Permittees' use, generation, storage, release, threatened release, discharge, disposal, or presence of Hazardous Materials on, under, or about the Premises, the Building, or the Project; (d) any default of Tenant under this Lease; and (e) any claims for brokerage commissions or finder's fees in connection with this Lease (excepting commissions or fees authorized in writing by Landlord). As used in this Lease, "Claims" means any claim, suit, proceeding, action, cause of action, responsibility, demand, judgment and execution, and attorneys' fees and costs related thereto or arising therefrom.    

	
34.2
	
Tenant hereby releases, discharges, and waives any right of recovery from Landlord and Landlord's agents, directors, officers, and employees, and Landlord hereby releases, discharges, and waives any right of recovery from Tenant and Tenant's Permittees, from all Claims, liabilities, losses, damages, expenses, or attorneys' fees and costs incurred arising from or caused by any peril required to be covered by insurance obtained by Landlord or Tenant under this Lease, or covered by insurance in connection with (a) property on the Premises, the Building, or the Project; (b) activities conducted on the Premises, the Building, or the Project; and (c) obligations to indemnify under this Lease, regardless of the cause of the damage or loss. Landlord and Tenant shall give their respective insurance carriers notice of these waivers and shall secure an endorsement from each carrier to the effect that the waivers given shall not adversely affect or impair the policies of insurance or prejudice the right of the named insured on the policy to recover thereunder. These waivers apply only to the extent such Claims, liabilities, losses, damages, expenses, or attorneys' fees are covered by insurance required pursuant to this Lease.

	
34.3
	
Notwithstanding anything in this Lease to the contrary, Landlord shall not be responsible or liable to Tenant for any Claims for loss or damage caused by the acts or omissions of any persons occupying any space elsewhere in the Building.

21

 

Article 35.  WAIVERS

36.1 LANDLORD AND TENANT WAIVE ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING BASED UPON, OR RELATED TO, THE SUBJECT MATTER OF THIS LEASE OR THE USE AND OCCUPANCY OF THE PREMISES. THIS WAIVER IS KNOWINGLY, INTENTIONALLY AND VOLUNTARILY MADE BY TENANT, AND TENANT ACKNOWLEDGES THAT NEITHER LANDLORD NOR ANY PERSON ACTING ON BEHALF OF LANDLORD HAS MADE ANY REPRESENTATIONS OF FACT TO INDUCE THIS WAIVER OF TRIAL BY JURY OR IN ANY WAY TO MODIFY OR NULLIFY ITS EFFECT.

36.2 TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, TENANT HEREBY WAIVES THE BENEFIT OF ALL WARRANTIES, EXPRESS OR IMPLIED, WITH RESPECT TO THE PREMISES INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTY THAT THE PREMISES ARE SUITABLE FOR TENANT’S PARTICULAR USE AND PURPOSE.  LANDLORD HAS MADE NO REPRESENTATIONS, COVENANTS OR WARRANTIES WITH RESPECT TO THE PREMISES EXCEPT AS EXPRESSLY SET FORTH IN THIS LEASE.

36.3 TENANT, ON BEHALF OF ITSELF AND ANY AND ALL PERSONS CLAIMING THROUGH OR UNDER TENANT, DOES HEREBY WAIVE AND SURRENDER ALL RIGHT AND PRIVILEGE WHICH IT, THEY OR ANY OF THEM MIGHT HAVE UNDER OR BY REASON OF ANY PRESENT OR FUTURE LAW, TO REDEEM THE PREMISES OR TO HAVE A CONTINUANCE OF THIS LEASE AFTER BEING DISPOSSESSED OR EJECTED THEREFROM BY PROCESS OF LAW OR UNDER THE TERMS OF THIS LEASE OR AFTER THE TERMINATION OF THIS LEASE.

IN WITNESS WHEREOF, the parties have duly executed this Lease as of the day and year first above written.

		
	
LANDLORD:

POTENS PARTNERS LLC, a Colorado limited liability company

By:Integratis Partners VII LLC, a Colorado limited liability company, its Manager

 

 

By:/s/ Scott Pudalov

Name:Scott Pudalov

Title:Manager

 

 
	
TENANT:

ARCA Biopharma, Inc

 

 

 

 

By:    /s/ Brian L. Selby

Name:  Brian L. Selby

Title: Vice President, Finance

 

 

22

 

EXHIBIT A

 

LAND

 

 

Legal Description:

 

Parcel 1:

Lot 4, Church Ranch Home Place Filing No. 8, as recorded June 1, 2000 at Reception No. F1064571 in Plat Book 154 at Page 48, County of Jefferson, State of Colorado.

 

Parcel 2:

Easement for ingress and egress, utilities, and drainage and detention purposes as set forth in that certain Reciprocal Easement Agreement recorded June 26, 2000 at Reception No. F1075734.

 

Parcel 3:

Easement for Pedestrian Walkways as set forth in Protective Covenants recorded October 26, 1990 at Reception No. 90091700. 

 

Parcel 4:

Easement for the purpose of maintaining private storm sewers as set forth on the plat of Church Ranch Home Place-Filing No. 8 recorded June 1, 2000 at Reception No. F1064571.

 

Parcel 5:

Easement for ingress and egress, utilities, and drainage and detention purposes as set forth in that certain Reciprocal Easement Agreement recorded June 7, 2001 at Reception No. F1250943 and in the First Amendment To Reciprocal Easement Agreement recorded February 17, 2009 at Reception No. 2009013198.

 

Parcel 6:

Easement for ingress and egress, utilities, and drainage and detention purposes as set forth in that certain Reciprocal Easement Agreement recorded May 10, 2006 at Reception No. 2006055833.

 

23

 

EXHIBIT A-1

PREMISES

 

24

 

EXHIBIT B

RULES AND REGULATIONS

	
1.
	
Tenant will refer all contractors, contractor's representatives and installation technicians rendering any service to Tenant, to Landlord for Landlord's supervision, approval and control before performance of any contractual service. This provision shall apply to all work performed in the Building including installations of any nature affecting doors, walls, woodwork, trim, windows, ceilings, equipment or any other physical portion of Building.

	
2.
	
No additional locks or bolts of any kind shall be placed upon any of the doors or windows by any Tenant nor shall any changes be made in existing locks or the mechanism thereof without consulting the Landlord.

	
3.
	
Movement in or out of the Building of furniture or office equipment, or dispatch or receipt by Tenant of any merchandise or materials which require use of stairways, elevators or movement through Building entrance or lobby shall be restricted to hours designated by Landlord. All such movement shall be under supervision of Landlord and in the manner agreed between Tenant and Landlord by pre-arrangement before performance. Such pre-arrangement initiated by Tenant will include determination by Landlord and subject to its decision and control, as to the concerns which may prohibit any article, equipment or any other item from being brought into the Building. Tenant is to assume all risk as to damage to articles moved and injury to persons or public engaged or not engaged in such movement, including equipment, property, and personnel or Landlord if damaged or injured as a result of acts in connection with carrying out this service for Tenant from time of entering property to completion of work; and Landlord shall not be liable for acts of any person engaged in, or any damage or loss to any of said property or persons resulting from, any act in connection with such service performed for Tenant. Any hand trucks, carryalls or similar appliances used for the delivery or receipt of merchandise or equipment shall be equipped with rubber tires, side guards and such other safeguards as the Building shall reasonably require.

	
4.
	
No signs, advertisements or notices shall be painted or affixed on or to any windows or doors, or other parts of the Building, except of such color, size and style and in such places, as shall be first approved in writing by Landlord. Building standard suite entrance signs to Premises and directory signage shall be placed thereon by a contractor designated by Landlord at Landlord's expense.  Tenant shall be allocated directory signage and is permitted to place window or door decals/signs on the Premises

	
5.
	
Tenant shall not place, install or operate on the Premises or in part of the Building, any engine, refrigerating (other than a home-type kitchen refrigerator), heating or air conditioning apparatus, stove or machinery, or conduct mechanical operations or cook thereon (other than in a home-type microwave oven) or therein, or place in or about the Premises any explosives, gasoline, kerosene, oil, acids, caustics or any other inflammable, explosives, hazardous or odorous material without the prior written consent of Landlord. No portion of the Premises shall at any time be used for cooking, sleeping or lodging quarters. No Tenant shall cause or permit any unusual or objectionable odors to be produced upon or permeate from the Premises.

	
6.
	
Landlord will not be responsible for lost or stolen personal property, equipment, money or jewelry from the Building, the Premises, or any other area on or about the Project, regardless of whether such loss occurs when these areas were locked against entry or not.

	
7.
	
No birds or animals shall be brought into or kept in or about the Building.

	
8.
	
Employees of Landlord shall not receive or carry messages for or to Tenant or other person, nor contract with or render free or paid services to Tenant or Tenant's agents, employees, or invitees.

25

 

	
9.
	
Landlord will not permit entrance to Tenant's offices by use of pass keys controlled by Landlord to any person at any time without written permission by Tenant, except employees, contractors, or service personnel directly supervised by Landlord.

	
10.
	
The entries, passages, doors, elevators and elevator doors (if provided), hallways or stairways shall not be blocked or obstructed; no rubbish, litter, trash, or material of any nature shall be placed, emptied or thrown into these areas, and such areas shall not be used at any time except for ingress or egress by Tenant, Tenant's agents, employees or invitees to or from the Premises.

	
11.
	
Plumbing fixtures and appliances shall be used only for purposes for which constructed, and no sweepings, rubbish, rags or other unsuitable material shall be thrown or placed therein. Damage resulting to any such fixtures or appliances from misuse by Tenant, its employees, agents, visitors or licensees shall be paid by Tenant, and Landlord shall not in any case be responsible therefor.

	
12.
	
The Landlord desires to maintain the highest standards of environmental comfort and convenience for all Tenants. It will be appreciated if any undesirable conditions or lack of courtesy or attention are reported directly to the management. Tenant shall give immediate notice to the Landlord in case of accidents in the Premises or in the Common Areas or of defects therein or in any fixtures or equipment, or of any known emergency in the Building.

	
13.
	
No Tenant shall make, or permit to be made, any unseemly or disturbing noises, interfere with occupants of this or neighboring buildings or premises, or those having business with them, whether by the use of any device, musical instrument, radio, unmusical noise, or in any other way interfering with others' quiet enjoyment of the Building.

	
14.
	
Landlord shall have the right to make such other and further reasonable rules and regulations as in the judgment of Landlord may from time to time be needful for the safety, appearance, care and cleanliness of the Building and for the preservation of good order therein. Landlord shall not be responsible to Tenant for any violations of rules and regulations by other tenants.

	
15.
	
All Tenants shall adhere to and obey all such parking control measures as may be placed into effect by the Landlord through the use of signs, identifying decals or other instructions. No bicycles or other vehicles of any kind shall be brought into or kept on the Premises except in designated areas specified for parking of such vehicles.

	
16.
	
No safes or other objects, larger or heavier than the Building is limited to carry, shall be brought into or installed on the Premises. The Landlord shall have the power to prescribe the weight and position of such safes or other objects which shall, if considered necessary by the Landlord, be required to be supported by such additional materials placed on the floor as the Landlord may direct, and at the expense of the Tenant.

	
17.
	
Landlord shall have no obligation to clean, repair, re-stretch, or replace carpeting.

	
18.
	
Names to be replaced on or removed from directories should be furnished to the manager in writing on Tenant's letterhead. All replacement directory strips will be at the expense of the Tenant. Landlord will determine size and uniformity of strips.

	
19.
	
All Tenants shall see that doors of their premises are closed and securely locked before leaving the Building and must observe strict care not to leave such doors open and exposed to the weather or other elements. Tenant shall exercise extraordinary care and caution that all water faucets or water apparatus are entirely shut off before the Tenant or the Tenant's employees leave the Building, and that all electricity, gas and air conditioning shall likewise be carefully shut off, so as to prevent waste or damage, where controlled by Tenant.

	
20.
	
Canvassing, soliciting and peddling in the Building are prohibited. All Tenants shall cooperate to prevent the same.

	
21.
	
All nail holes are to be patched and repaired in Tenant's suite by Tenant upon vacating Premises.

26

 

	
22.
	
All holiday decorations and other temporary or special decorations must be flame-retardant. No live Christmas trees or candles are to be used throughout the Building. No decorations should be hung on the exterior windows or on exterior suite doors.

	
23.
	
There shall be no smoking permitted in the Building.

	
24.
	
The Premises shall not be used for any use that is disreputable or may draw protests.

 

27

 

EXHIBIT C

PARKING RULES AND REGULATIONS

The parking rules & regulations are designed to assure our tenants and visitors safe use and enjoyment of the facilities. Please remove or hide any personal items of value from plain sight to avoid temptation leading to vandalism of vehicles. Please exercise added caution when using parking lot at night. Please keep vehicle locked at all times. Please report violations of these rules to the Landlord immediately. Please report any lights out or other possibly dangerous situations to the Landlord as soon as possible. 

Restrictions

	
•
	
Damage caused by vehicles is the responsibility of vehicle owner.

	
•
	
Landlord is not responsible for theft or damage to any vehicle.

	
•
	
Landlord is not responsible for water damage from leaks in the garage or any surface parking area.

•Landlord is not responsible for damage due to height limitations of garage.

	
•
	
Vehicles not to exceed posted speed limit in the garage.

•Vehicles that leak excessive fluids will be required to protect parking surface.

	
•
	
Mechanical repairs to vehicles are not permitted on property.

•Large or oversize vehicles such as motor homes, boats or trailers are not permitted.

•No parking in fire lanes, loading zones or any other areas not designated as a parking space.

•Landlord, at Landlord's sole discretion after providing reasonable prior notice, may add or modify the parking rules.

Violations of rules & regulations may result in towing from the Project. Towing from the Project can only be ordered by Landlord or Landlord's property manager. Charges for towing are to be paid by vehicle owner.

 

28

 

EXHIBIT D

TENANT IMPROVEMENTS

	
1.
	
Acceptance of Premises.  Except as set forth in this Exhibit, Tenant accepts the Premises in their “AS-IS” condition on the date that this Amendment is entered into.

	
2.
	
Scope of Work.  Landlord agrees to cause, at its sole cost and expense, certain improvement work to be performed in the Premises in order to provide the Premises in turn-key condition (collectively, together with any work required by governmental authorities to be made to other areas of the Building as a result of such work, the “Work”) pursuant to a mutually agreeable space plan (Exhibit A-1, the “Plan”) based on a written Scope of Work attached (or to be attached) hereto as Exhibit D-1. In furtherance of such Plan, Tenant shall promptly select Building standard materials to be incorporated into the Work, which shall be equal or better quality to the recently renovated spaces in the Building, and give written notice of such selections, and Tenant shall otherwise diligently cooperate with Landlord to finalize the Plan and Scope of Work which shall be based on Exhibit A-1 to the Lease. Landlord shall have the right to select the architect, engineers, consultants, contractors and subcontractors for the Work. 

In the event Tenant desires any different or additional construction work (or any different, additional, or non-Building-standard materials) to be performed in the Premises (other than the Work of the mutually-approved Plan), then all such additional work and/or materials shall be at Tenant's sole cost and expense and subject to Landlord’s prior written approval (in its sole and absolute discretion if building permits are required or if such construction affects the Building structure or systems).

	
3.
	
Cost of the Work.  The costs include design of the Work and preparation of the Plans, working drawings, costs of construction labor and materials, building permits, taxes and insurance costs, all of which costs shall be paid by Landlord. Tenant shall pay a three percent (3%) construction management fee, capped at $1,000, to Landlord’s construction manager for the Building.    

	
4.
	
Construction Allowance.  Intentionally Deleted

	
5.
	
Construction Management.  Landlord or its designated agent or affiliate shall have the right to supervise the Work, make disbursements to the contractor, act as liaison between the contractor, Tenant, and other Building tenants and occupants, and to facilitate and coordinate the relationship between the Work, the Building and the Building’s systems.  

	
6.
	
Walk-Through; Punchlist.  When work is substantially complete, Landlord will notify Tenant and within three (3) Business Days thereafter, Landlord’s representative and Tenant’s representative shall conduct a walk-through of the Premises and identify any necessary touch-up work, minor repairs or minor completion items that are necessary for final completion of the Work.  Neither Landlord’s representative nor Tenant’s representative shall unreasonably withhold agreement on punchlist items.  Landlord shall use reasonable efforts to cause the contractor to complete all punchlist items within fifteen (15) Business Days after agreement thereon; however, Landlord shall not be obligated to engage overtime labor in order to complete such items. As used herein “substantially complete” means that the Work in the Premises has been performed in substantial accordance with the Plan and Scope of Work, as reasonably determined by Landlord (other than any details of construction, mechanical adjustment or other similar matter, the noncompletion of which does not materially interfere with Tenant’s use or occupancy of the Premises) and a certificate of occupancy or similar document allowing legal occupancy of the Premises shall have been obtained.

 

29

 

EXHIBIT D-1

TENANT IMPROVEMENTS

 

Landlord, at Landlord’s sole cost and expense, shall deliver the Premises inclusive of:

	
 
	
-
	
Professionally cleaned, carpets steam cleaned

	
 
	
-
	
Walls patched/repaired and touch up paint

	
 
	
-
	
Three (3) additional private offices, as shown in Exhibit A-1 with electrical drops, HVAC ventilation, lighting, paint, and associated side lights to match existing adjacent offices.

 

30

 

 

EXHIBIT E

CONFIRMATION OF COMMENCEMENT DATE

______________, 20__

__________________________

__________________________

__________________________

__________________________

	
 
	
Re:
	
Office Lease Agreement (the "Lease") dated _____________, 20__, between _______________, a _____________________ ("Landlord"), and _____________________, a ___________________ ("Tenant"). Capitalized terms used herein but not defined shall be given the meanings assigned to them in the Lease.

Ladies and Gentlemen:

Landlord and Tenant agree as follows:

	
1.
	
Condition of Premises.  Tenant has accepted possession of the Premises pursuant to the Lease. Any improvements required by the terms of the Lease to be made by Landlord have been completed to the full and complete satisfaction of Tenant in all respects except for the punchlist items described on Exhibit A hereto (the "Punchlist Items"), and except for such Punchlist Items, Landlord has fulfilled all of its duties under the Lease with respect to such initial tenant improvements. Furthermore, Tenant acknowledges that the Premises are suitable for the Permitted Use.

	
2.
	
Commencement Date.  The Commencement Date of the Lease is __________, 20__.

	
3.
	
Expiration Date.  The Lease Term is scheduled to expire on the last day of the ___ full calendar month of the Lease Term, which date is ______________, 20__.

4.Contact Person.  Tenant's contact person in the Premises is:

 

 

 

Attention:

Telephone:

Telecopy:

	
5.
	
Ratification.  Tenant hereby ratifies and confirms its obligations under the Lease, and represents and warrants to Landlord that it has no defenses thereto. Additionally, Tenant further confirms and ratifies that, as of the date hereof, (a) the Lease is and remains in good standing and in full force and effect, and (b) Tenant has no claims, counterclaims, set-offs or defenses against Landlord arising out of the Lease or in any way relating thereto or arising out of any other transaction between Landlord and Tenant.

31

 

	
6.
	
Binding Effect; Governing Law.  Except as modified hereby, the Lease shall remain in full effect and this letter shall be binding upon Landlord and Tenant and their respective successors and assigns. If any inconsistency exists or arises between the terms of this letter and the terms of the Lease, the terms of this letter shall prevail. This letter shall be governed by the laws of the state in which the Premises are located.

Please indicate your agreement to the above matters by signing this letter in the space indicated below and returning an executed original to us.

		
	
Agreed and accepted:

[TENANT'S SIGNATURE BLOCK],

a 

By:

Name:

Title:
	
Sincerely,

_________________ a _________________

By:

Name:

Title:

 

32

 

EXHIBIT F

RENEWAL RIGHT

Provided Tenant is not then in default under the Lease, Tenant may renew and extend the Term for one (1) additional period of three (3) years each, by delivering written notice of the exercise thereof (the “Renewal Notice”) to Landlord not later than seven (7) months prior to the expiration of the then-current Term.  The initial Minimum Rent payable for any such extended term shall commence at a rate of the then-current rental rate. 

Tenant’s right to renew the Lease shall terminate if: (1) the Lease or Tenant’s right to possession of the Premises is terminated; (2) Tenant assigns any of its interest in the Lease or sublets any portion of the Premises, other than an assignment to a Permitted Transferee; (3) Tenant fails to timely exercise its option under this Exhibit, time being of the essence with respect to Tenant’s exercise thereof; or (4) Tenant is in default under the Lease at the time of exercise.

33Exhibit 4.1

 

WARRANT AGREEMENT

 

between

FTAC OLYMPUS ACQUISITION CORP.

and

CONTINENTAL STOCK TRANSFER & TRUST
COMPANY

Dated August 25, 2020

 

THIS WARRANT AGREEMENT (this “Agreement”),
dated as of August 25, 2020, is by and between FTAC Olympus Acquisition Corp., a Cayman Islands exempted company (the “Company”),
and Continental Stock Transfer & Trust Company, a New York limited purpose trust company, as warrant agent (in such capacity,
the “Warrant Agent”, also referred to herein as the “Transfer Agent”).

 

WHEREAS, on August 25, 2020, the Company
entered into that certain Placement Unit Subscription Agreement, with FTAC Olympus Sponsor, LLC, a Delaware limited liability company
(the “Sponsor”), pursuant to which the Sponsor will purchase an aggregate of 2,170,000 Units (as defined
below) for an aggregate purchase price of $21,700,000 (“Placement Units”), each Unit consisting of one
Class A ordinary share (as defined below) (“Placement Shares”) and one-third of one warrant to purchase
one Placement Share (the “Placement Warrants”) of the Company, and, in connection therewith, has determined
to issue and deliver up to 723,333 Placement Warrants bearing the legend set forth in Exhibit B hereto, to be sold simultaneously
with the closing of the Offering (as defined below). Each Placement Warrant entitles the holder thereof to purchase one Placement
Share at a price of $11.50 per share, subject to adjustment as described herein; and

 

WHEREAS, in order to finance the Company’s
transaction costs in connection with an intended initial merger, share exchange, asset acquisition, share purchase, reorganization
or similar business combination, involving the Company and one or more businesses (a “Business Combination”),
the Sponsor, members of the Company’s management team or any of their respective affiliates or third parties may, but are
not obligated to, loan the Company funds as the Company may require, of which up to $1,500,000 of such loans may be convertible
into Units at a price of $10.00 per Unit, each Unit consisting of one Class A ordinary share and one-third of one warrant to purchase
one Class A ordinary share (the “Loan Warrants”); and

 

WHEREAS, the Company is engaged in an initial
public offering (the “Offering”) of units of the Company’s equity securities, each such unit comprised
of one Class A ordinary share and one-third of one Public Warrant (as defined below) (the “Public Units”,
and together with the Placement Units, the “Units”) and, in connection therewith, has determined to issue
and deliver up to 28,750,000 redeemable warrants (including up to 3,750,000 redeemable warrants subject to the Over-allotment Option)
to public investors in the Offering (the “Public Warrants” and, together with the Placement Warrants
and the Loan Warrants, the “Warrants”). Each whole Warrant entitles the holder thereof to purchase
one Class A ordinary share of the Company, par value $0.0001 per share (“Class A ordinary shares”),
for $11.50 per share, subject to adjustment as described herein. Only whole Warrants are exercisable. A holder of the
Public Warrants will not be able to exercise any fraction of a Warrant; and

 

WHEREAS, the Company has filed with the
Securities and Exchange Commission (the “Commission”) a registration statement on Form S-1, No. 333-241831
(the “Registration Statement”) and prospectus (the “Prospectus”), for the registration,
under the Securities Act of 1933, as amended (the “Securities Act”), of the Units, the Public Warrants
and the Class A ordinary shares included in the Units; and

 

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

 

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

 

     

     

    

 

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

 

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

 

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

 

2.
Warrants.

 

2.1
Form of Warrant. Each Warrant shall initially be issued in registered form only.

 

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

 

2.3
Registration.

 

2.3.1
Warrant Register. The Warrant Agent shall maintain books (the “Warrant Register”), for the
registration of original issuance and the registration of transfer of the Warrants. Upon the initial issuance of the Warrants
in book-entry form, the Warrant Agent shall issue and register the Warrants in the names of the respective holders thereof in such
denominations and otherwise in accordance with instructions delivered to the Warrant Agent by the Company. Ownership of beneficial
interests in the Public Warrants shall be shown on, and the transfer of such ownership shall be effected through, records maintained
by institutions that have accounts with The Depository Trust Company (the “Depositary”) (such institution,
with respect to a Warrant in its account, a “Participant”).

 

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

 

Physical certificates, if issued, shall
be signed by, or bear the facsimile signature of, the President, Chief Financial Officer, or other principal officer of the Company. 
In the event the person whose facsimile signature has been placed upon any Warrant shall have ceased to serve in the capacity in
which such person signed the Warrant before such Warrant is issued, it may be issued with the same effect as if he or she had not
ceased to be such at the date of issuance.

 

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

 

    2

     

    

 

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

 

2.5
Fractional Warrants. The Company shall not issue fractional Warrants other than as part of the Units, each of which
is comprised of one Class A ordinary share and one-third of one whole Public Warrant. If, upon the detachment of Public
Warrants from the Units or otherwise, a holder of Warrants would be entitled to receive a fractional Warrant, the Company shall
round down to the nearest whole number the number of Warrants to be issued to such holder.

 

2.6
Placement Warrants; Loan Warrants.

 

2.6.1
The Placement Warrants and the Loan Warrants shall be identical to the Public Warrants, except that so long as they are held by
the Sponsor or any of their Permitted Transferees (as defined below) the Placement Warrants and the Loan Warrants: (i) may
be exercised for cash or on a “cashless basis,” pursuant to subsection 3.3.1(c) hereof, (ii) including
the Class A ordinary shares issuable upon exercise of the Placement Warrants and the Loan Warrants, may not be transferred,
assigned or sold until thirty (30) days after the completion by the Company of an initial Business Combination, (iii) shall
not be redeemable by the Company pursuant to Section 6.1 hereof and (iv) shall only be redeemable by the Company
pursuant to Section 6.2 if the Reference Value (as defined below) is less than $18.00 per share (subject to adjustment
in compliance with Section 4 hereof); provided, however, that in the case of clause (ii), the Placement Warrants
and the Loan Warrants and any Class A ordinary shares held by the Sponsor or any of their Permitted Transferees that are issued
upon exercise of the Placement Warrants and the Loan Warrants may be transferred by the holders thereof:

 

(a) to the Company’s officers or directors, any affiliates or family members of any of the Company’s officers or directors,
any members or partners of the Sponsors or their affiliates, any affiliates of the Sponsors or any employees of such affiliates;

 

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

 

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

 

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

 

(e) by private
sales or transfers made in connection with the completion of the Company’s Business Combination at prices no greater
than the price at which the securities, were originally purchased;

 

(f) by virtue of
the laws of the Cayman Islands or the Sponsor’s organizational documents upon liquidation or dissolution of our
Sponsor;

 

(g)
to the Company for no value for cancellation in connection with the completion of its initial Business Combination;

 

(h)
in the event of the Company’s liquidation prior to the Company’s completion of its initial Business Combination; or

 

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(i) in the event
of the Company’s completion of a liquidation, merger, share exchange or other similar transaction which results in all
of the Company’s shareholders having the right to exchange their Class A ordinary shares for cash, securities or
other property subsequent to the completion of the Company’s initial Business Combination; provided, however,
that in each case (except for clauses (g), (h) or (i) or with the prior written consent of the Company) prior to
such registration for transfer, the Warrant Agent shall be presented with written documentation pursuant to which each
permitted transferee (the “Permitted Transferees”) must enter into a written agreement with the
Company agreeing to be bound by these transfer restrictions.

 

3.
Terms and Exercise of Warrants.

 

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

 

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

 

3.3
Exercise of Warrants.

 

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

 

(a)
in lawful money of the United States, in good certified check or good bank draft payable to the order of the Warrant Agent;

 

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(b)
[Reserved];

 

(c) with respect to any Placement Warrant or Loan Warrant, so long as such Placement Warrant or Loan Warrant is held by the Sponsor
or a Permitted Transferee, by surrendering the Warrants for that number of Class A ordinary shares equal to (i) if in
connection with a redemption of Placement Warrants or Loan Warrants pursuant to Section 6.2 hereof, as provided in
Section 6.2 hereof with respect to a Make-Whole Exercise and (ii) in all other scenarios the quotient obtained
by dividing (x) the product of the number of Class A ordinary shares underlying the Warrants, multiplied by the excess
of the “Sponsor Exercise Fair Market Value” (as defined in this subsection 3.3.1(c)) less the Warrant Price
by (y) the Sponsor Exercise Fair Market Value. Solely for purposes of this subsection 3.3.1(c), the “Sponsor
Exercise Fair Market Value” shall mean the average last reported sale price of the Class A ordinary shares for the ten
(10) trading days ending on the third (3rd) trading day prior to the date on which notice of exercise of the Warrant is sent
to the Warrant Agent;

 

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

 

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

 

3.3.2
Issuance of Class A ordinary shares on Exercise. As soon as practicable after the exercise of any Warrant and
the clearance of the funds in payment of the Warrant Price (if payment is pursuant to subsection 3.3.1(a)), the Company
shall issue to the Registered Holder of such Warrant a book-entry position or certificate, as applicable, for the number of Class A
ordinary shares to which he, she or it is entitled, registered in such name or names as may be directed by him, her or it on the
register of members of the Company, and if such Warrant shall not have been exercised in full, a new book-entry position or countersigned
Warrant, as applicable, for the number of shares as to which such Warrant shall not have been exercised. Notwithstanding
the foregoing, the Company shall not be obligated to deliver any Class A ordinary shares pursuant to the exercise of a Warrant
and shall have no obligation to settle such Warrant exercise unless a registration statement under the Securities Act with respect
to the Class A ordinary shares underlying the Public Warrants is then effective and a prospectus relating thereto is current,
subject to the Company’s satisfying its obligations under Section 7.4 or a valid exemption from registration
is available. No Warrant shall be exercisable and the Company shall not be obligated to issue Class A ordinary shares
upon exercise of a Warrant unless the Class A ordinary shares issuable upon such Warrant exercise have been registered, qualified
or deemed to be exempt from registration or qualification under the securities laws of the state of residence of the Registered
Holder of the Warrants. Subject to Section 4.6 of this Agreement, a Registered Holder of Warrants may exercise
its Warrants only for a whole number of Class A ordinary shares. The Company may require holders of Public Warrants
to settle the Warrant on a “cashless basis” pursuant to Section 7.4. If, by reason of any exercise
of Warrants on a “cashless basis”, the holder of any Warrant would be entitled, upon the exercise of such Warrant,
to receive a fractional interest in a Class A ordinary share, the Company shall round down to the nearest whole number, the
number of Class A ordinary shares to be issued to such holder.

 

3.3.3
Valid Issuance. All Class A ordinary shares issued upon the proper exercise of a Warrant in conformity with this
Agreement and the amended and restated memorandum and articles of association of the Company, shall be validly issued as fully
paid and nonassessable.

 

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

 

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

 

4.
Adjustments.

 

4.1
Share Capitalizations.

 

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

 

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

 

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

 

4.3
Adjustments in Exercise Price. Whenever the number of Class A ordinary shares purchasable upon the exercise of
the Warrants is adjusted, as provided in subsection 4.1.1 or Section 4.2 above, the Warrant Price shall be adjusted
(to the nearest cent) by multiplying such Warrant Price immediately prior to such adjustment by a fraction (x) the numerator
of which shall be the number of Class A ordinary shares purchasable upon the exercise of the Warrants immediately prior to
such adjustment, and (y) the denominator of which shall be the number of Class A ordinary shares so purchasable immediately
thereafter.

 

4.4
Raising of Capital in Connection with the Initial Business Combination. If (x) the Company issues additional
Class A ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of its initial
Business Combination at an issue price or effective issue price of less than $9.20 per Class A ordinary share (with such issue
price or effective issue price to be determined in good faith by the Board and, in the case of any such issuance to the Sponsor
or their affiliates, without taking into account any Class B ordinary shares of the Company, par value $0.0001 per share (the
“Class B ordinary shares”), held by the Sponsor or such affiliates, as applicable, prior to such
issuance (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent
more than 60% of the total equity proceeds, and interest thereon, available for the funding of the Company’s initial Business
Combination on the date of the completion of the Company’s initial Business Combination (net of redemptions), and (z) the
volume-weighted average trading price of Class A ordinary shares during the twenty (20) trading day period starting on the
trading day prior to the day on which the Company completes its initial Business Combination (such price, the “Market
Value”) is below $9.20 per share, the Warrant Price will be adjusted (to the nearest cent) to be equal to 115% of
the higher of the Market Value and the Newly Issued Price, and the $10.00 and $18.00 per share redemption trigger prices described
in Section 6.2 and

 

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Section 6.1, respectively, will
be adjusted (to the nearest cent) to be equal to 100% and 180%, respectively, of the higher of the Market Value and the Newly Issued
Price.

 

4.5
Replacement of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the
issued and outstanding Class A ordinary shares (other than a change under Section 4.1 or Section 4.2
hereof or that solely affects the par value of such Class A ordinary shares), or in the case of any merger or consolidation
of the Company with or into another corporation (other than a consolidation or merger in which the Company is the continuing corporation
and that does not result in any reclassification or reorganization of the issued and outstanding Class A ordinary shares),
or in the case of any sale or conveyance to another corporation or entity of the assets or other property of the Company as an
entirety or substantially as an entirety in connection with which the Company is dissolved, the holders of the Warrants shall thereafter
have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the Warrants and in lieu
of the Class A ordinary shares of the Company immediately theretofore purchasable and receivable upon the exercise of the
rights represented thereby, the kind and amount of shares of stock or other securities or property (including cash) receivable
upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer,
that the holder of the Warrants would have received if such holder had exercised his, her or its Warrant(s) immediately prior
to such event (the “Alternative Issuance”); provided, however, that (i) if the holders
of the Class A ordinary shares were entitled to exercise a right of election as to the kind or amount of securities, cash
or other assets receivable upon such consolidation or merger, then the kind and amount of securities, cash or other assets constituting
the Alternative Issuance for which each Warrant shall become exercisable shall be deemed to be the weighted average of the kind
and amount received per share by the holders of the Class A ordinary shares in such consolidation or merger that affirmatively
make such election, and (ii) if a tender, exchange or redemption offer shall have been made to and accepted by the holders
of the Class A ordinary shares (other than a tender, exchange or redemption offer made by the Company in connection with redemption
rights held by shareholders of the Company as provided for in the Company’s amended and restated memorandum and articles
of association or as a result of the repurchase of Class A ordinary shares by the Company if a proposed initial Business Combination
is presented to the shareholders of the Company for approval) under circumstances in which, upon completion of such tender or exchange
offer, the maker thereof, together with members of any group (within the meaning of Rule 13d-5(b)(1) under the Exchange
Act) of which such maker is a part, and together with any affiliate or associate of such maker (within the meaning of Rule 12b-2
under the Exchange Act) and any members of any such group of which any such affiliate or associate is a part, own beneficially
(within the meaning of Rule 13d-3 under the Exchange Act) more than 50% of the issued and outstanding Class A ordinary
shares, the holder of a Warrant shall be entitled to receive as the Alternative Issuance, the highest amount of cash, securities
or other property to which such holder would actually have been entitled as a shareholder if such Warrant holder had exercised
the Warrant prior to the expiration of such tender or exchange offer, accepted such offer and all of the Class A ordinary
shares held by such holder had been purchased pursuant to such tender or exchange offer, subject to adjustments (from and after
the consummation of such tender or exchange offer) as nearly equivalent as possible to the adjustments provided for in this Section 4;
provided further that if less than 70% of the consideration receivable by the holders of the Class A ordinary shares
in the applicable event is payable in the form of shares in the successor entity that is listed for trading on a national securities
exchange or is quoted in an established over-the-counter market, or is to be so listed for trading or quoted immediately following
such event, and if the Registered Holder properly exercises the Warrant within thirty (30) days following the public disclosure
of the consummation of such applicable event by the Company pursuant to a Current Report on Form 8-K filed with the Commission,
the Warrant Price shall be reduced by an amount (in dollars) equal to the difference of (i) the Warrant Price in effect prior
to such reduction minus (ii) (A) the Per Share Consideration (as defined below) (but in no event less than zero) minus
(B) the Black-Scholes Warrant Value (as defined below). The “Black-Scholes Warrant Value” means the
value of a Warrant immediately prior to the consummation of the applicable event based on the Black-Scholes Warrant Model for a
Capped American Call on Bloomberg Financial Markets (assuming zero dividends) (“Bloomberg”). For
purposes of calculating such amount, (i) Section 6 of this Agreement shall be taken into account, (ii) the
price of each Class A ordinary share shall be the volume weighted average price of the Class A ordinary shares as reported
during the ten (10) trading day period ending on the trading day prior to the effective date of the applicable event, (iii) the
assumed volatility shall be the 90 day volatility obtained from the HVT function on Bloomberg determined as of the trading day
immediately prior to the day of the announcement of the applicable event and (iv) the assumed risk-free interest rate shall
correspond to the U.S. Treasury rate for a period equal to the remaining term of the Warrant. “Per Share Consideration”
means (i) if the consideration paid to holders of the Class A ordinary shares consists exclusively of cash, the amount
of such cash per Class A ordinary share, and (ii) in all other cases, the volume weighted average price of the Class A
ordinary shares as reported during the ten (10) trading day period ending on the trading day prior to the effective date of
the applicable event. If any reclassification or reorganization also results in a change in Class A ordinary shares
covered by subsection 4.1.1, then such adjustment shall be made pursuant to subsection 4.1.1 or Sections 4.2,
4.3 and this Section 4.4. The provisions of this Section 4.4 shall similarly apply to successive
reclassifications, reorganizations, mergers or consolidations, sales or other transfers. In no event will the Warrant Price
be reduced to less than the par value per share issuable upon exercise of such Warrant.

 

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4.6
Notices of Changes in Warrant. Upon every adjustment of the Warrant Price or the number of shares issuable upon exercise
of a Warrant, the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting
from such adjustment and the increase or decrease, if any, in the number of shares purchasable at such price upon the exercise
of a Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based. 
Upon the occurrence of any event specified in Sections 4.1, 4.2, 4.3, 4.4 or 4.5, the Company
shall give written notice of the occurrence of such event to each holder of a Warrant, at the last address set forth for such holder
in the Warrant Register, of the record date or the effective date of the event. Failure to give such notice, or any defect
therein, shall not affect the legality or validity of such event.

 

4.7
No Fractional Shares. Notwithstanding any provision contained in this Agreement to the contrary, the Company shall
not issue fractional shares upon the exercise of Warrants. If, by reason of any adjustment made pursuant to this Section 4,
the holder of any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share, the
Company shall, upon such exercise, round down to the nearest whole number the number of Class A ordinary shares to be issued
to such holder.

 

4.8
Form of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this Section 4,
and Warrants issued after such adjustment may state the same Warrant Price and the same number of shares as is stated in the Warrants
initially issued pursuant to this Agreement; provided, however, that the Company may at any time in its sole discretion
make any change in the form of Warrant that the Company may deem appropriate and that does not affect the substance thereof, and
any Warrant thereafter issued or countersigned, whether in exchange or substitution for an outstanding Warrant or otherwise, may
be in the form as so changed.

 

4.9
Other Events. In case any event shall occur affecting the Company as to which none of the provisions of the preceding
subsections of this Section 4 are strictly applicable, but which would require an adjustment to the terms of the Warrants
in order to (i) avoid an adverse impact on the Warrants and (ii) effectuate the intent and purpose of this Section 4,
then, in each such case, the Company shall appoint a firm of independent registered public accountants, investment banking or other
appraisal firm of recognized national standing, which shall give its opinion as to whether or not any adjustment to the rights
represented by the Warrants is necessary to effectuate the intent and purpose of this Section 4 and, if they determine
that an adjustment is necessary, the terms of such adjustment; provided, however, that under no circumstances shall
the Warrants be adjusted pursuant to this Section 4.9 as a result of any issuance of securities in connection with
a Business Combination. The Company shall adjust the terms of the Warrants in a manner that is consistent with any adjustment
recommended in such opinion.

 

4.10
No Adjustment. For the avoidance of doubt, no adjustment shall be made to the terms of the Warrants solely as a result
of an adjustment to the conversion ratio of the Class B ordinary shares into Class A ordinary shares or the conversion
of the Class B ordinary share into Class A ordinary shares, in each case, pursuant to the Company’s amended and
restated memorandum and articles of association, as amended from time to time.

 

5.
Transfer and Exchange of Warrants.

 

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

 

    9

     

    

 

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

 

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

 

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

 

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

 

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

 

6.
Redemption.

 

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

 

    10

     

    

 

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

 

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

 

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

 

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

 

    11

     

    

 

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

 

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

 

6.5
Exclusion of Placement Warrants and Loan Warrants. The Company agrees that (a) the redemption rights provided
in Section 6.1 hereof shall not apply to the Placement Warrants and Loan Warrants if at the time of the redemption
such Placement Warrants or Loan Warrants continue to be held by the Sponsor or its Permitted Transferees and (b) if the Reference
Value equals or exceeds $18.00 per share (subject to adjustment in compliance with Section 4 hereof), the redemption
rights provided in Section 6.2 hereof shall not apply to the Placement Warrants or Loan Warrants if at the time of
the redemption such Placement Warrants or Loan Warrants continue to be held by the Sponsor or its Permitted Transferees. 
However, once such Placement Warrants or Loan Warrants are transferred (other than to Permitted Transferees in accordance with
Section 2.6 hereof), the Company may redeem the Placement Warrants or Loan Warrants pursuant to Section 6.1
or 6.2 hereof, provided that the criteria for redemption are met, including the opportunity of the holder of such Placement
Warrants or Loan Warrants to exercise the Placement Warrants or Loan Warrants prior to redemption pursuant to Section 6.4
hereof. Placement Warrants or Loan Warrants that are transferred to persons other than Permitted Transferees shall upon such
transfer cease to be Placement Warrants or Loan Warrants and shall become Public Warrants under this Agreement, including for purposes
of Section 9.8 hereof.

 

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

 

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

 

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

 

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

 

    12

     

    

 

7.4
Registration of Class A ordinary shares; Cashless Exercise at Company’s Option.

 

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

 

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

 

8.    
Concerning the Warrant Agent and Other Matters.

 

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

 

    13

     

    

 

8.2
Resignation, Consolidation, or Merger of Warrant Agent.

 

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

 

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

 

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

 

8.3
Fees and Expenses of Warrant Agent.

 

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

 

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

 

8.4
Liability of Warrant Agent.

 

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

 

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

 

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

 

    14

     

    

 

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

 

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

 

9.    Miscellaneous Provisions.

 

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

 

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

 

FTAC Olympus Acquisition Corp.

2929 Arch Street, Suite 1703

Philadelphia, PA 19104

Attention: Ryan Gilbert, Chief Executive Officer

email: 

 

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

 

Continental Stock Transfer & Trust Company

One State Street, 30th Floor

New York, NY 10004

Attention: Compliance Department

 

9.3
Applicable Law. The validity, interpretation, and performance of this Agreement and of the Warrants shall be governed
in all respects by the laws of the State of New York, without giving effect to conflicts of law principles that would result in
the application of the substantive laws of another jurisdiction. The Company hereby agrees that any action, proceeding or
claim against it arising out of or relating in any way to this Agreement shall be brought and enforced in the courts of the State
of New York or the United States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction. 
The Company hereby waives any objection to such jurisdiction and that such courts represent an inconvenient forum.

 

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

 

    15

     

    

 

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

 

9.6
Counterparts. This Agreement may be executed in any number of original or facsimile counterparts and each of such
counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and
the same instrument.

 

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

 

9.8
Amendments. This Agreement may be amended by the parties hereto without the consent of any Registered Holder for the
purpose of curing any ambiguity, or curing, correcting or supplementing any defective provision contained herein or adding or changing
any other provisions with respect to matters or questions arising under this Agreement as the parties may deem necessary or desirable
and that the parties deem shall not adversely affect the interest of the Registered Holders. All other modifications or amendments,
including any amendment to increase the Warrant Price or shorten the Exercise Period and any amendment to the terms of

 only the Placement Warrants and/or the Loan Warrants,
shall require the vote or written consent of the Registered Holders of 65% of the then outstanding Public Warrants. Notwithstanding
the foregoing, the Company may lower the Warrant Price or extend the duration of the Exercise Period pursuant to Sections 3.1
and 3.2, respectively, without the consent of the Registered Holders.

 

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

 

Exhibit A Form of Warrant Certificate

 

Exhibit B Legend — Placement Warrants and Loan Warrants

 

[SIGNATURE PAGE FOLLOWS]

 

    16

     

    

 

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

 

	 	FTAC OLYMPUS ACQUISITION CORP.
	 	 
	 	By:	/s/ Ryan M. Gilbert
	 	 	Name: Ryan M. Gilbert
	 	 	Title: President and Chief Executive Officer
	 	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY,
	 	as Warrant Agent
	 	 	 
	 	By:	/s/ James F. Kiszka
	 	 	Name: James F. Kiszka
	 	 	Title:   Vice President

 

[Signature Page to Warrant Agreement]

 

    17

     

    

 

EXHIBIT A

 

Form of Warrant Certificate

[FACE]

 

Number

 

Warrants

 

THIS WARRANT SHALL BE VOID IF NOT EXERCISED
PRIOR TO

THE EXPIRATION OF THE EXERCISE PERIOD PROVIDED FOR

IN THE WARRANT AGREEMENT DESCRIBED BELOW

 

FTAC OLYMPUS ACQUISITION CORP.

 

Incorporated Under the Laws of the Cayman
Islands

 

CUSIP [·]

 

Warrant Certificate

 

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

 

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

 

The initial Exercise Price per one Class A
ordinary share for any Warrant is equal to $11.50 per share. The Exercise Price is subject to adjustment upon the occurrence
of certain events as set forth in the Warrant Agreement.

 

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

 

    A-1

     

    

 

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

 

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

 

This Warrant Certificate shall be governed
by and construed in accordance with the internal laws of the State of New York, without regard to conflicts of laws principles
thereof.

 

	 	FTAC OLYMPUS ACQUISITION CORP.
	 	 	 
	 	By:	                     
	 	 	Name:
	 	 	Title:
	 	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY,
	 	as Warrant Agent
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    A-2

     

    

 

[Form of Warrant Certificate]

[Reverse]

 

The Warrants evidenced by this Warrant Certificate
are part of a duly authorized issue of Warrants entitling the holder on exercise to receive Class A ordinary shares and are
issued or to be issued pursuant to a Warrant Agreement dated as of  
          , 2020 (the “Warrant Agreement”), duly executed and delivered by the Company to Continental Stock Transfer &
Trust Company, a New York limited purpose trust company, as warrant agent (the “Warrant Agent”), which
Warrant Agreement is hereby incorporated by reference in and made a part of this instrument and is hereby referred to for a description
of the rights, limitation of rights, obligations, duties and immunities thereunder of the Warrant Agent, the Company and the holders
(the words “holders” or “holder” meaning the Registered Holders or Registered
Holder, respectively) of the Warrants. A copy of the Warrant Agreement may be obtained by the holder hereof upon written
request to the Company. Defined terms used in this Warrant Certificate but not defined herein shall have the meanings given
to them in the Warrant Agreement.

 

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

 

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

 

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

 

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

 

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

 

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

 

    A-3

     

    

 

Election to Purchase

(To Be Executed Upon Exercise of Warrant)

 

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

 

In the event that the Warrant has been called
for redemption by the Company pursuant to Section 6.2 of the Warrant Agreement and a holder thereof elects to exercise
its Warrant pursuant to a Make-Whole Exercise, the number of Class A ordinary shares that this Warrant is exercisable for
shall be determined in accordance with subsection 3.3.1(c) or Section 6.2 of the Warrant Agreement, as
applicable.

 

In the event that the Warrant is a Placement
Warrant or Loan Warrant that is to be exercised on a “cashless” basis pursuant to subsection 3.3.1(c) of
the Warrant Agreement, the number of Class A ordinary shares that this Warrant is exercisable for shall be determined in accordance
with subsection 3.3.1(c) of the Warrant Agreement.

 

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

 

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

 

[Signature Page Follows]

 

    A-4

     

    

 

	Date:     , 20	 
	 	(Signature)
	 	 
	 	(Address)
	 	 
	 	 
	 	(Tax Identification Number)
	 	 
	Signature Guaranteed:	 
	 	 
	 	 	 
	 	 	 

 

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

 

    A-5

     

    

 

EXHIBIT B

 

LEGEND

 

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

 

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

 

		NO.	WARRANT

 

 

B-1

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