Document:

Exhibit 10.6

 

FORM OF FORWARD PURCHASE AND SUBSCRIPTION
AGREEMENT

 

This Forward Purchase and
Subscription Agreement (this “Agreement”), made as of August 31, 2020, by and among LF Capital Acquisition Corp.,
a Delaware corporation (the “Company”), Level Field Capital LLC, a Delaware limited liability company (the “Sponsor”),
and the subscriber named on the signature page below (the “Subscriber”), is intended to set forth certain representations,
covenants and agreements among the Company, the Sponsor and the Subscriber, with respect to the acquisition by the Subscriber of
Class A Common Stock of the Company, par value $0.0001 per share (“Common Stock”), pursuant to Sections 1(a)(iii)
and (iv) hereof, which representations, covenants and agreements are made in connection with the proposed business combination
(the “Transaction”) among the Company, LF Capital Merger Sub, a Delaware corporation (“Merger Sub”),
Landsea Holdings Corporation, a Delaware corporation (“LHC”), and Landsea Homes Incorporated, a Delaware corporation
(“Landsea”).

 

WHEREAS, the parties wish
to enter into this Agreement, pursuant to which, subject to the terms and conditions set forth in this Agreement, at any one time
or from time to time, commencing on the second Trading Day following the date the Company publicly files the Merger Agreement (as
defined below) and the related management presentation on a Current Report on Form 8-K (the “Purchase Commencement Date”)
and through the Purchase Deadline (as defined below), other than as expressly provided in Section 1(a)(iii) of this Agreement,
the Subscriber shall purchase its Purchase Allocation (as defined below); and

 

WHEREAS, as consideration
for the Subscriber’s commitment to purchase its Purchase Allocation, such Subscriber shall be entitled to receive the Utilization
Fee Shares (as defined below) and, if applicable, the Additional Fee Shares (as defined below) as set forth in Section 1(b) hereof.

 

NOW, THEREFORE, in consideration
of the premises, representations, warranties and the mutual covenants contained in this Agreement, and for other good and valuable
consideration, the receipt, sufficiency and adequacy of which are hereby acknowledged, the parties hereto agree as follows:

 

1. (a)
Forward Purchase.

 

(i)
The Subscriber covenants and agrees that until the earlier of the (A) consummation of the Transaction (the “Merger
Closing”) or (B) Termination Date (as defined below), it shall not, and shall ensure that each of its Affiliates does
not, Transfer any shares of Common Stock acquired pursuant to the terms of this Agreement. For purposes hereof, “Affiliate”
shall mean affiliate as such term is defined in Rule 12b-2 of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), including, without limitation, any entity for which a Subscriber directly or indirectly serves as investment adviser
or manager; and “Transfer” shall mean any direct or indirect transfer, redemption, disposition or monetization
in any manner whatsoever, including, without limitation, through redemption election or any derivative transactions.

 

(ii)
The Subscriber covenants and agrees that it shall, and shall cause each of its Affiliates to, (A) vote all shares of Common
Stock that it owns as of the record date for the special meeting of the Company’s stockholders called to vote on the Transaction
(the “Record Date”), up to a maximum of the Target Allocation, for the Special Meeting (as defined below) in
favor of the Transaction and each of the other proposals of the Company set forth in the Proxy Statement to be filed with the Securities
and Exchange Commission in connection with a special meeting of Company stockholders (the “Special Meeting”)
to be held to approve, among other things, the Transaction, and (B) not exercise its redemption rights in respect of any shares
of Common Stock owned by Subscriber or its Affiliates, up to a maximum number of shares not to exceed the Target Allocation, in
connection with the Special Meeting or in connection with the Company’s proposal to extend the deadline for its initial business
combination beyond September 22, 2020 (the “Extension”).

 

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(iii)
Commencing on the Purchase Commencement Date and through the close of business on the Trading Day (as defined below) immediately
preceding the Record Date (the “Purchase Deadline”), the Subscriber shall (provided it is lawful to do so) use
commercially reasonable efforts to purchase shares of Common Stock at a price per share up to the Maximum Price (as defined below),
from time to time, for an aggregate purchase price up to (but not exceeding) the Purchase Allocation amount set forth underneath
such Subscriber’s name on the signature page hereto (its “Purchase Allocation”). For the avoidance of
doubt, the Company may demonstrate the Subscriber did not take commercially reasonable efforts to purchase all or a portion of
its Purchase Allocation solely by means of documentary evidence of offers of availability of shares of Common Stock at such pricing
from the Placement Agent to such Subscriber (with respect to such portion of its Purchase Allocation). All such purchases under
this Section 1(a)(iii) shall be made by the Subscriber via open market purchases or in privately negotiated transactions with third
parties, including forward contracts, provided that: (a) any such privately negotiated transactions settle no later than the Record
Date, and (b) the Subscriber shall not be required to purchase any shares of Common Stock at a price per share above $10.56, inclusive
of any fees and commissions (the “Maximum Price”). On the calendar day immediately following the Purchase Deadline,
and at such other times as may be requested by the Company, the Subscriber shall (x) notify the Company in writing of the number
of shares of Common Stock so purchased pursuant to this Section 1(a)(iii) (the “Market Shares”) and the aggregate
purchase price paid therefor by such Subscriber (net of any transaction fees) and (y) in the case of any Market Shares acquired
in privately negotiated transactions with third parties, provide the Company with all documentation reasonably requested by the
Company and its advisors (including without limitation, its legal counsel) and its transfer agent and proxy solicitor to confirm
that the Subscriber purchased, or has irrevocably contracted to purchase, such shares. Notwithstanding the foregoing, and for the
avoidance of doubt, if the Agreement and Plan of Merger, by and among the Company, Merger Sub, LHC and Landsea, dated as of August
31, 2020 (the “Merger Agreement”) is terminated in accordance with its terms prior to the Merger Closing, then
Subscriber’s obligations to purchase shares of Common Stock under this Section 1(a)(iii) will immediately terminate and be
extinguished. For purposes hereof, “Trading Day” shall mean a day during which trading in the Common Stock generally
occurs on The Nasdaq Capital Market.

 

(iv)
In the event the Subscriber has not acquired a sufficient number of Market Shares pursuant to Section 1(a)(iii) hereof to
satisfy in full its Purchase Allocation, because a sufficient number of shares of Common Stock were unavailable for purchase from
private third parties or in the open market at or below the then applicable Maximum Price, such Subscriber shall be released from
its obligation to purchase the remaining amount of its Purchase Allocation.

 

(v) For the avoidance of
doubt, nothing in this Agreement will prohibit the Subscriber from acquiring shares of Common Stock of the Company in excess of
its applicable Purchase Allocation; provided, no Utilization Fee Shares or Additional Fee Shares will be issued as compensation
for any shares purchased in excess of the applicable Purchase Allocation.

 

(b)
Utilization Fees and Additional Fees.

 

(i)
Substantially concurrently with the Merger Closing, in consideration for the Subscriber’s obligation to acquire its
Purchase Allocation, the Company shall issue to the Subscriber a number of shares of Common Stock (the “Utilization Fee
Shares”) equal to 0.06775 multiplied by the Target Allocation (as defined below) of such Subscriber; provided that such
Utilization Fee Shares for the Subscriber shall be rounded to the nearest whole Share, and the Subscriber shall not receive fractional
Shares. The Subscriber’s “Target Allocation” shall equal (i) such Subscriber’s Purchase Allocation; divided
by (ii) the then applicable Maximum Price. For the avoidance of doubt, subject to the terms of this Agreement, Subscriber shall
be entitled to receive Utilization Fee Shares whether or not Subscriber purchases any shares of Common Stock.

 

(ii) Substantially concurrently
with the Merger Closing, in consideration for the Subscriber’s obligations to acquire its Purchase Allocation, if the Pre-Closing
Price (as defined below) exceeds $10.56, the Company shall issue to such Subscriber a number of shares of Common Stock (the “Additional
Fee Shares”) equal to the Additional Fee Amount (as defined below) multiplied by the applicable Target Allocation of
such Subscriber; provided such Additional Fee Shares for the Subscriber shall be rounded to the nearest whole Share, and the Subscriber
shall not receive fractional Shares. Notwithstanding the above, if shares of Common Stock were procurable by the Subscriber at
or below the then applicable Maximum Price during the period of the Purchase Commencement Date and through the close of business
on the tenth Trading Day prior to the consummation of the Merger Closing (as may be demonstrated solely by means of documentary
evidence of offers of availability of shares of Common Stock at such pricing from the Placement Agent to such Subscriber), such
Subscriber shall not receive the Additional Fee Shares.  For the avoidance of doubt, this equates to a maximum of 0.04167
Additional Fee Shares issued for each share of Common Stock to be purchased by the Subscriber, assuming a purchase price per share
of Common Stock of $10.56.

 

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“VWAP” means,
for any date, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding Trading Day)
on the trading market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day
from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)).

 

The “Additional Fee Amount” shall
equal (a) the Reference Price (as defined below) divided by (b) $10.56.

 

The “Reference Price” shall equal
(a) the lesser of (i) $11.00 or (ii) the Pre-Closing Price, minus (b) $10.56.

 

The “Pre-Closing Price” shall equal
the average VWAP for the five (5) Trading Day period ending on the close of business on the Trading Day prior to the date the Company
redeems its Common Stock in connection with the Transaction.

 

For the avoidance of doubt, if the Pre-Closing
Price is less than or equal to $10.56, no Additional Fee Shares shall be issued. For the avoidance of doubt, subject to the terms
of this Agreement, the Subscriber may be entitled to receive Additional Fee Shares whether or not Subscriber purchases any shares
of Common Stock.

 

(iii)
Immediately prior to the Merger Closing, the Sponsor shall transfer to the Company for forfeiture, and the Company shall
retire and cancel, a number of shares of Class B Common Stock held by the Sponsor equal to the aggregate number of Utilization
Fee Shares and the Additional Fee Shares issued to the Subscriber.

 

2. Delivery.
The Subscriber understands and agrees that its right to receive the Offered Shares is made subject to the following terms and conditions:

 

(a)
Contemporaneously with the execution and delivery of this Agreement, the Subscriber shall execute and deliver the Investor
Questionnaire (as defined below) no fewer than three (3) days prior to the anticipated date of the Merger Closing.

 

(b) On
the date of the Merger Closing, the Company shall deliver (or cause the delivery of) the Utilization Fee Shares and the Additional
Fee Shares, as applicable, in book entry form to the Subscriber or to a custodian designated by the Subscriber, as applicable.

 

(c) At or prior to the
date of the Merger Closing, the Subscriber shall deliver to the Company a duly completed and executed Internal Revenue Service
Form W-9.

 

3. Expenses.
Each party hereto shall pay all of its own expenses in connection with this Agreement and the transactions contemplated hereby.

 

4. Registration
Rights.

 

(a)
The Company agrees that, within forty-five (45) calendar days after the Merger Closing (the “Filing Deadline”),
the Company will file with the Securities and Exchange Commission (the “SEC”) (at the Company’s sole cost
and expense) a registration statement (the “Registration Statement”) registering the resale of the Utilization
Fee Shares and the Additional Fee Shares (the “Offered Shares”), and the Company shall use its commercially
reasonable efforts to have the Registration Statement declared effective as soon as practicable after the filing thereof, but no
later than the 60th calendar day (or 120th calendar day if the SEC notifies the Company that it will “review” the Registration
Statement) following the Filing Deadline (such date, the “Effectiveness Date”); provided, however,
that the Company’s obligations to include such Offered Shares in the Registration Statement are contingent upon the Subscriber
furnishing in writing to the Company such information regarding such Subscriber, the securities of the Company held by such Subscriber
and the intended method of disposition of the Shares as shall be reasonably requested by the Company to effect the registration
of such Offered Shares, and shall execute such documents in connection with such registration as the Company may reasonably request
that are customary of a selling stockholder in similar situations.

 

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(b) The Company further
agrees that, in the event that (i) the Registration Statement is not filed with the SEC on or prior to the Filing Deadline, (ii)
the Registration Statement has not been declared effective by the SEC by the Effectiveness Date, (iii) after such Registration
Statement is declared effective by the SEC, (A) such Registration Statement ceases for any reason (including without limitation
by reason of a stop order, or the Company’s failure to update the Registration Statement), to remain continuously effective
as to all Offered Shares for which it is required to be effective or (B) the Subscriber is not permitted to utilize the Registration
Statement to resell its Offered Shares (in each case of (A) and (B), (x) other than within the time period(s) permitted by this
Agreement (including pursuant to Section 4(c)) and (y) excluding by reason of a post-effective amendment required in connection
with the Company’s filing of an amendment thereto (a “Special Grace Period”), which Special Grace Period
shall not be treated as a Registration Default (as defined below)), or (iv) after the date six months following the date of the
Merger Closing, and only in the event the Registration Statement is not effective or available to sell all of the Offered Shares,
the Company fails to file with the SEC any required reports under Section 13 or 15(d) of the Exchange Act such that it is not in
compliance with Rule 144(c)(1) (or Rule 144(i)(2), if applicable) promulgated under the Securities Act of 1933, as amended (the
“Securities Act”), as a result of which the Subscriber, if not an affiliate of the Company, is unable to sell
its Offered Shares without restriction under Rule 144 (or any successor thereto) (each such event referred to in clauses (i) through
(iv), a “Registration Default” and, for purposes of such clauses, the date on which such Registration Default
occurs, a “Default Date”), then in addition to any other rights such Subscriber may have hereunder or under
applicable law, on each such Default Date and on each monthly anniversary of each such Default Date (if the applicable Registration
Default shall not have been cured by such date) until the applicable Registration Default is cured, the Company shall pay to such
Subscriber an amount in cash, as partial liquidated damages and not as a penalty (“Liquidated Damages”), equal
to 0.5% of the aggregate number of Offered Shares held by the Subscriber on the Default Date, multiplied by $10.56 (the “Default
Amount”); provided, however, that if such Subscriber fails to provide the Company with any information requested by the
Company that is required to be provided in such Registration Statement with respect to such Subscriber as set forth herein, then,
for purposes of this Section 4, the Filing Date or Effectiveness Date, as applicable, for a Registration Statement with respect
to such Subscriber shall be extended until two (2) Trading Days following the date of receipt by the Company of such required information
from such Subscriber; and in no event shall the Company be required hereunder to pay to such Subscriber pursuant to this Agreement
an aggregate amount that exceeds 5.0% of the Default Amount. The Liquidated Damages pursuant to the terms hereof shall apply on
a daily pro-rata basis for any portion of a month prior to the cure of a Registration Default, except in the case of the first
Default Date. The Company shall deliver the cash payment to such Subscriber with respect to any Liquidated Damages by the fifth
Trading Day after the date payable. If the Company fails to pay said cash payment to such Subscriber in full by the fifth Trading
Day after the date payable, the Company will pay interest thereon at a rate of 5.0% per annum (or such lesser maximum amount that
is permitted to be paid by applicable law, and calculated on the basis of a year consisting of 360 days) to such Subscriber, accruing
daily from the date such Liquidated Damages are due until such amounts, plus all such interest thereon, are paid in full. Notwithstanding
the foregoing, nothing shall preclude the Subscriber from pursuing or obtaining any available remedies at law, specific performance
or other equitable relief with respect to this Section 4 in accordance with applicable law. The parties agree that notwithstanding
anything to the contrary herein, no Liquidated Damages shall be payable to the Subscriber with respect to any period during which
all of such Subscriber’s Offered Shares may be sold by such Subscriber without volume or manner of sale restrictions under
Rule 144 and the Company is in compliance with the current public information requirements under Rule 144(c)(1) (or Rule 144(i)(2),
if applicable).

 

(c) Notwithstanding anything
to the contrary in this Agreement, the Company shall be entitled to delay or postpone the effectiveness of the Registration Statement,
and from time to time to require the Subscriber not to sell under the Registration Statement or to suspend the effectiveness thereof,
if the negotiation or consummation of a transaction by the Company or its subsidiaries is pending or an event has occurred, which
negotiation, consummation or event, the Company’s board of directors reasonably believes, upon the advice of legal counsel,
could require additional disclosure by the Company in the Registration Statement of material information that the Company has a
bona fide business purpose for keeping confidential and the non-disclosure of which in the Registration Statement would be expected,
in the reasonable determination of the Company’s board of directors, upon the advice of legal counsel, to cause the Registration
Statement to fail to comply with applicable disclosure requirements (each such circumstance, a “Suspension Event”);
provided, however, that the Company may not delay or suspend the Registration Statement on more than two occasions or for more
than sixty (60) consecutive calendar days, or more than ninety (90) total calendar days, in each case during any twelve-month period.
Upon receipt of any written notice from the Company of the happening of any Suspension Event (which notice shall not contain material
non-public information) during the period that the Registration Statement is effective or if as a result of a Suspension Event
the Registration Statement or related prospectus contains any untrue statement of a material fact or omits to state any material
fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they
were made (in the case of the prospectus) not misleading, the Subscriber agrees that (i) it will immediately discontinue offers
and sales of the Offered Shares under the Registration Statement (excluding, for the avoidance of doubt, sales conducted pursuant
to Rule 144) until such Subscriber receives copies of a supplemental or amended prospectus (which the Company agrees to promptly
prepare) that corrects the misstatement(s) or omission(s) referred to above and receives notice that any post-effective amendment
has become effective or unless otherwise notified by the Company that it may resume such offers and sales, and (ii) it will maintain
the confidentiality of any information included in such written notice delivered by the Company unless otherwise required by law
or subpoena. If so directed by the Company, the Subscriber will deliver to the Company or, in such Subscriber’s sole discretion
destroy, all copies of the prospectus covering the Offered Shares in such Subscriber’s possession; provided, however, that
this obligation to deliver or destroy all copies of the prospectus covering the Offered Shares shall not apply (i) to the extent
such Subscriber is required to retain a copy of such prospectus (a) in order to comply with applicable legal, regulatory, self-regulatory
or professional requirements or (b) in accordance with a bona fide pre-existing document retention policy or (ii) to copies stored
electronically on archival servers as a result of automatic data back-up.

 

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(d)
The Company shall indemnify and hold harmless the Subscriber (to the extent a seller under the Registration Statement),
and its affiliates, officers, directors, members, managers, partners, employees, agents, attorneys and advisors, and each person
who controls such Subscriber (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act), to the
fullest extent permitted by applicable law, from and against any and all losses, claims, damages, liabilities, costs (including,
without limitation, reasonable costs of preparation and investigation and reasonable and documented out-of-pocket attorneys’
fees) and expenses (collectively, “Losses”), as incurred, that arise out of or are based upon any untrue or
alleged untrue statement of a material fact contained in the Registration Statement, any prospectus included in the Registration
Statement or any form of prospectus or in any amendment or supplement thereto or in any preliminary prospectus, or arising out
of or relating to any omission or alleged omission to state a material fact required to be stated therein or necessary to make
the statements therein (in the case of any prospectus or form of prospectus or supplement thereto, in light of the circumstances
under which they were made) not misleading.

 

(e)
The Subscriber shall indemnify and hold harmless the Company, its directors, officers, agents and employees, and each person
who controls the Company (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), to the fullest
extent permitted by applicable law, from and against any and all Losses, as incurred, arising out of or are based upon any untrue
or alleged untrue statement of a material fact contained in any Registration Statement, any prospectus included in the Registration
Statement, or any form of prospectus, or in any amendment or supplement thereto or in any preliminary prospectus, or arising out
of or relating to any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements
therein (in the case of any prospectus, or any form of prospectus or supplement thereto, in light of the circumstances under which
they were made) not misleading to the extent, but only to the extent, that such untrue statements or omissions are based solely
upon information regarding such Subscriber furnished in writing to the Company by such Subscriber expressly for use therein. In
no event shall the liability of the Subscriber pursuant to this paragraph exceed the dollar amount of the Purchase Allocation.

 

5. Representations,
Warranties, Understandings, Risk Acknowledgments, and Covenants of the Subscriber. The Subscriber hereby represents, warrants
and covenants to the Company as follows:

 

(a) Such Subscriber has
been duly incorporated or otherwise formed and is validly existing in good standing under the laws of its jurisdiction of incorporation
or formation, with full power and authority to enter into, deliver and perform its obligations under this Agreement.

 

(b) This Agreement has
been duly authorized, executed and delivered by such Subscriber and constitutes a legal, valid and binding obligation of such Subscriber,
enforceable against such Subscriber signed in accordance with its terms, except as may be limited or otherwise affected by (i)
bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other laws relating to or affecting the rights of
creditors generally, and (ii) principles of equity, whether considered at law or equity.

 

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

 

(d)
Such Subscriber (i) was at the time it was offered the Offered Shares, and will be at the closing of the issuance of
the Utilization Fee Shares and the Additional Fee Shares (x) a “qualified institutional buyer” (as defined in
Rule 144A promulgated under the Securities Act) or (y) an “accredited investor” (within the meaning of Rule 501(a)
under the Securities Act), in each case, satisfying the applicable requirements set forth on Schedule A and (ii) is
acquiring the Utilization Fee Shares and, if applicable, the Additional Fee Shares for his, her or its own account, and not for
the account of others, or if such Subscriber is subscribing for the such shares as a fiduciary or agent for one or more investor
accounts, each owner of such account is a qualified institutional buyer or an institutional “accredited investor” (within
the meaning of Rule 501(a) under the Securities Act) and such Subscriber has full investment discretion with respect to each
such account, and the full power and authority to make the acknowledgements, representations and agreements herein on behalf of
each owner of each such account, and (iii) is not acquiring the Offered Shares with a view to, or for offer or sale in connection
with, any distribution thereof in violation of the Securities Act (and shall provide the requested information on Schedule A
following the signature page hereto). Such Subscriber is not an entity formed for the specific purpose of acquiring the Offered
Shares.

 

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

 

(f)
Such Subscriber further acknowledges that there have been no representations, warranties, covenants and agreements made
to such Subscriber by the Company, or its officers or directors or any other party to the Transaction, expressly or by implication,
other than those representations, warranties, covenants and agreements of the Company included in this Agreement.

 

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

 

(h)
Such Subscriber acknowledges and agrees that such Subscriber has received such information as such Subscriber deems necessary
in order to make an investment decision with respect to the Offered Shares. Such Subscriber represents and agrees that such Subscriber
and such Subscriber’s professional advisor(s), if any, have had the full opportunity to ask such questions, receive such
answers and obtain such information as such Subscriber and such undersigned’s professional advisor(s), if any, have deemed
necessary to make an investment decision with respect to the Offered Shares.

 

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(i)
Such Subscriber became aware of this offering of the Offered Shares solely by means of direct contact between such Subscriber
and the Company or a representative of the Company, and the Offered Shares were offered to such Subscriber solely by direct contact
between such Subscriber and the Company or a representative of the Company. Such Subscriber did not become aware of this offering
of the Offered Shares, nor were the Offered Shares offered to such Subscriber, by any other means. Such Subscriber acknowledges
that the Company represents and warrants that the Offered Shares (i) were not offered by any form of general solicitation
or general advertising and (ii) are not being offered in a manner involving a public offering under, or in a distribution
in violation of, the Securities Act, or any state securities laws. Such Subscriber has a substantive pre-existing relationship
with the Company, Landsea or their affiliates, B. Riley FBR, Inc. (“B. Riley FBR”), or Barclays Capital Inc.
(together with B. Riley FBR, the “Placement Agents”).

 

(j)
Such Subscriber acknowledges that it is aware that there are substantial risks incident to the ownership of the Offered
Shares. Such Subscriber has such knowledge and experience in financial and business matters as to be capable of evaluating the
merits and risks of an investment in the Offered Shares, and such Subscriber has sought such accounting, legal and tax advice as
such Subscriber has considered necessary to make an informed investment decision.

 

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

 

(l)
In making its decision to enter into this Agreement, such Subscriber represents and warrants that it has relied solely upon
independent investigation made by such Subscriber and the representations and warranties set forth herein. Without limiting the
generality of the foregoing, such Subscriber has not relied on any statements or other information provided by the Placement Agents
concerning the Company or the Offered Shares or the offer and sale of the Offered Shares.

 

(m)
Such Subscriber understands and agrees that no federal or state agency has passed upon or endorsed the merits of the offering
of the Offered Shares or made any findings or determination as to the fairness of this investment.

 

(n)
Such Subscriber is not (i) a person or entity named on the List of Specially Designated Nationals and Blocked Persons
administered by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) or in any executive
order issued by the President of the United States and administered by OFAC (“OFAC List”), or a person
or entity targeted by any OFAC sanctions program, (ii) an entity owned fifty percent (50%) or more, directly or indirectly,
by one or more persons or entities on the OFAC List, (iii) a Designated National as defined in the Cuban Assets Control Regulations,
31 C.F.R. Part 515, or (iv) a non-U.S. shell bank or providing banking services indirectly to a non-U.S. shell
bank (collectively, a “Prohibited Investor”). Such Subscriber agrees to provide law enforcement agencies, if
requested thereby, such records as required by applicable law, provided that such Subscriber is permitted to do so under applicable
law. If such Subscriber is a financial institution subject to the Bank Secrecy Act (31 U.S.C. Section 5311 et seq.)
(the “BSA”), as amended by the USA PATRIOT Act of 2001 (the “PATRIOT Act”),
and its implementing regulations (collectively, the “BSA/PATRIOT Act”), such Subscriber maintains policies
and procedures reasonably designed to comply with applicable obligations under the BSA/PATRIOT Act. To the extent required,
it maintains policies and procedures reasonably designed for the screening of its investors against the OFAC sanctions programs,
including the OFAC List. To the extent required, it maintains policies and procedures reasonably designed to ensure that the funds
held by such Subscriber and used to purchase the Offered Shares were legally derived.

 

(o)
No disclosure or offering document has been prepared by the Placement Agents or any of their respective affiliates in connection
with the offer and sale of the Offered Shares.

 

    	 	7	 

     

    

 

(p)
The Placement Agents and each of their respective directors, officers, employees, representatives and controlling persons
have made no independent investigation with respect to the Company or the Offered Shares or the accuracy, completeness or adequacy
of any information supplied to such Subscriber by the Company.

 

(q)
In connection with the transfer of the Offered Shares, the Placement Agents have not acted as such Subscriber’s financial
advisor or fiduciary.

 

(r)
Such Subscriber and its affiliates do not have, and during the 30-day period immediately prior hereto such undersigned and
its affiliates have not entered into, any “put equivalent position” as such term is defined in Rule 16a-1 under
the Exchange Act of 1934, as amended, or short sale positions with respect to the securities of the Company. In addition, such
Subscriber shall comply with all applicable provisions of Regulation M promulgated under the Securities Act.

 

(s) Such Subscriber acknowledges
and agrees that the certificate or book-entry position representing the Offered Shares will bear or reflect, as applicable, a legend
substantially similar to the following:

“THIS SECURITY WAS ORIGINALLY
ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”),
AND THIS SECURITY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION
THEREFROM. THE HOLDER OF THIS SECURITY AGREES FOR THE BENEFIT OF THE ISSUER OF THIS SECURITY THAT (A) THIS SECURITY MAY BE
OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED, ONLY (I) PURSUANT TO ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF
THE SECURITIES ACT, (II) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, OR (III) TO THE ISSUER
OF THIS SECURITY, IN EACH OF CASES (I) THROUGH (III) IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE
UNITED STATES, AND (B) THE HOLDER WILL NOTIFY ANY SUBSEQUENT PURCHASER OF THIS SECURITY FROM IT OF THE RESALE RESTRICTIONS
REFERRED TO IN (A) ABOVE. THE ISSUER OF THIS SECURITY MAY REQUIRE THE DELIVERY OF A WRITTEN OPINION OF COUNSEL, CERTIFICATIONS
AND/OR ANY OTHER INFORMATION IT REASONABLY REQUIRES TO CONFIRM THE SECURITIES ACT EXEMPTION FOR SUCH TRANSACTION.”

(t) The aggregate
consideration set forth in this Agreement is the result of arm’s-length negotiations between the Company and such Subscriber.

(u) No Offered Shares
will be issued to such Subscriber in connection with the Transaction for indebtedness (or interest thereon) of the Company.

(v) No Offered Shares
will be transferred to a Subscriber for services rendered to or for the benefit of the Company or any of its affiliates in connection
with the transfer of Offered Shares pursuant to this Agreement or the Transaction.

(w) There is no
indebtedness between such Subscriber, on the one hand, and the Company or any of its affiliates, on the other hand, and there will
be no indebtedness created in favor of such Subscriber as a result of the Transaction.

(x) Such Subscriber
is not under the jurisdiction of a court in a Title 11 or similar case (within the meaning of Section 368(a)(3)(A) of the Code.

(y) Such Subscriber’s
non-tax business purpose for effecting the transactions contemplated hereby is to acquire the Offered Shares for investment.

    	 	8	 

     

    

(z) Such Subscriber
(a) does not have any plan or intention to sell, transfer, exchange or otherwise dispose of any Offered Shares, (b) has not entered
into, nor is such Subscriber subject to, any agreement, arrangement or binding commitment (whether written or oral), to sell, transfer,
exchange or otherwise dispose of any Offered Shares, or (c) has not granted any option to purchase or acquire any Offered Shares.

(aa) Such Subscriber
will comply with all reporting and record-keeping requirements applicable to the issuance of the Offered Shares and the Transaction
which are prescribed by the Code, the Income Tax Regulations promulgated thereunder (the “Treasury Regulations”),
or by forms, instructions, or other publications of the United States Internal Revenue Service, including, without limitation,
the record-keeping and information filing requirements prescribed by Treasury Regulations Section 1.351-3.

6. Representations
and Warranties of the Company. The Company represents and warrants to the Subscriber as follows:

(a)
The Company has been duly incorporated, is validly existing and is in good standing under the laws of the State of Delaware,
with corporate power and authority to own, lease and operate its properties and conduct its business as presently conducted, and
to enter into, deliver and perform its obligations under this Agreement.

(b) The Offered
Shares have been duly authorized and are validly issued, fully paid and non-assessable and have not been issued in violation of,
or subject to, any preemptive or similar rights created under the Company’s certificate of incorporation, or under the laws
of the State of Delaware.

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

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

(e) The Company
has delivered to such Subscriber a true and correct copy of the Merger Agreement (including all schedules and exhibits thereto)
in substantially the same form as the form executed and delivered by the parties thereto as of August 31, 2020.

(f) Assuming the
accuracy of the representations and warranties of the Subscriber, the Company is not required to obtain any consent, waiver, authorization
or order of, give any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental
authority, self-regulatory organization (including The Nasdaq Stock Market (“Nasdaq”)) or other person in connection
with the execution, delivery and performance of this Agreement (including, without limitation, the issuance of the Offered Shares),
other than (i) filings required by applicable state securities laws, (ii) the filing of the Registration Statement pursuant to
Section 5 below, (iii) the filing of a Notice of Exempt Offering of Securities on Form D with the SEC under Regulation D of the
Securities Act, (iv) those required by Nasdaq, including with respect to obtaining shareholder approval, (v) those required to
consummate the Transaction as provided under the Merger Agreement, (vi) the filing of notification under the Hart-Scott-Rodino
Antitrust Improvements Act of 1976, if applicable, and (vii) the failure of which to obtain would not be reasonably likely to have
a Company Material Adverse Effect or have a material adverse effect on the Company’s ability to consummate the transactions
contemplated hereby, including the issuance and sale of the Offered Shares.

    	 	9	 

     

    

(g) Except for such
matters as have not had and would not be reasonably likely to have a Company Material Adverse Effect or have a material adverse
effect on the Company’s ability to consummate the transactions contemplated hereby, including the issuance and sale of the
Offered Shares, as of the date hereof, there is no (i) suit, action, proceeding or arbitration before a governmental authority
or arbitrator pending, or, to the knowledge of the Company, threatened in writing against the Company or (ii) judgment, decree,
injunction, ruling or order of any governmental authority or arbitrator outstanding against the Company.

(h) The issued and
outstanding shares of Common Stock are registered pursuant to Section 12(b) of the Exchange Act and are listed for trading on Nasdaq
under the symbol “LFAC.” There is no suit, action, proceeding or investigation pending or, to the knowledge of the
Company, threatened against the Company by Nasdaq or the SEC with respect to any intention by such entity to deregister the Common
Stock or prohibit or terminate the listing of the shares of Common Stock on Nasdaq. The Company has taken no action that is designed
to terminate the registration of the shares of Common Stock under the Exchange Act.

(i) The Company
will use its reasonable best efforts to cause the Offered Shares to be approved for listing on Nasdaq upon their issuance.

(j) Assuming the
accuracy of Subscriber’s representations and warranties set forth in Section 5 of this Agreement, no registration under the
Securities Act is required for the offer and sale of the Offered Shares by the Company to Subscriber.

(k) Neither the
Company nor any person acting on its behalf has engaged or will engage in any form of general solicitation or general advertising
(within the meaning of Regulation D) in connection with any offer or sale of the Offered Shares.

(l) As of the date
immediately prior to the date of this Agreement, the Company had $141,970,563.17 in the Trust Account (as defined below).

(m) At the time
of the Purchase Commencement Date, to the knowledge of the Company, the Subscriber shall not be, nor shall it be deemed to be,
in possession of material non-public information received from the Company or any of its officers, directors or employees.

(n) On the date
hereof, the Company shall publicly file the Merger Agreement, the investor presentation provided to Subscriber and the form of
this Agreement with the SEC on a Current Report on Form 8-K and each such document shall be identical in all material respects
with such documents provided to the Subscriber.

 

7. Understandings.
The Subscriber understands, acknowledges and agrees with the Company as follows:

 

(a)
Such Subscriber hereby acknowledges and agrees that, subject to the terms and conditions of this Agreement, except as required
by Law, such Subscriber is not entitled to cancel, terminate or revoke this Agreement or any agreements of such Subscriber hereunder,
and that this Agreement and such other agreements shall survive the death or disability of such Subscriber and shall be binding
upon and inure to the benefit of the parties and their respective heirs, executors, administrators, successors, legal representatives
and permitted assigns. If such Subscriber is more than one person, the obligations of such Subscriber hereunder shall be joint
and several and the agreements, representations, warranties and acknowledgments herein contained shall be deemed to be made by
and be binding upon each such person and his/her heirs, executors, administrators, successors, legal representatives and permitted
assigns.

 

(b)
The issuance of the Utilization Fee Shares and the Additional Fee Shares is intended to be exempt from registration, which
is dependent upon the truth, completeness and accuracy of the statements made by such Subscriber herein.

 

    	 	10	 

     

    

 

(c)
There is only a limited public market for the Common Stock. There can be no assurance that the Subscriber will be able to
sell or dispose of the Offered Shares.

 

(d)
The representations and warranties of such Subscriber contained in this Agreement and in any other writing delivered in
connection with the transactions contemplated hereby shall be true and correct in all respects on and as of the date hereof and
the date of the issuance of the Utilization Fee Shares and the Additional Fee Shares as if made on and as of such date and such
representation and warranties and all agreements of such Subscriber contained herein and in any other writing delivered in connection
with the transactions contemplated hereby.

 

(e) The
Company is a blank check company with the powers and privileges to effect a merger, asset acquisition, reorganization or similar
business combination involving the Company and one or more businesses or assets. The Subscriber further acknowledges that, as described
in the Company’s prospectus dated June 18, 2018 (the “Prospectus”) relating to the Company’s initial
public offering, available at www.sec.gov, substantially all of the Company’s assets consist of the cash proceeds of the
Company’s initial public offering and private placements of its securities, and substantially all of those proceeds have
been deposited in a trust account (the “Trust Account”) for the benefit of the Company, its public shareholders
and the underwriters of the Company’s initial public offering. The Subscriber, on behalf of itself and its affiliates and
representatives, hereby irrevocably waives any and all right, title and interest, or any claim of any kind they have or may have
in the future, in or to any monies held in the Trust Account, and agrees not to seek recourse against the Trust Account as a result
of, or arising out of, this Agreement.

 

(f) The
Company, the Placement Agents and others will rely on the acknowledgments, understandings, agreements, representations and warranties
contained in this Agreement. Prior to the date of the Merger Closing, the Subscriber agrees to promptly notify the Company if any
of the acknowledgments, understandings, agreements, representations and warranties set forth herein are no longer accurate. The
Subscriber agrees that the issuance of the Offered Shares to Subscriber by the Company will constitute a reaffirmation of the acknowledgments,
understandings, agreements, representations and warranties herein (as modified by any such notice) by such Subscriber as of the
time of such issuance.

 

(g) The
Company is entitled to rely upon this Agreement and is irrevocably authorized to produce this Agreement or a copy hereof to any
interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby.

 

(h) The
Subscriber’s identity and the issuance of the Offered Shares, as well as the nature of the Subscriber’s obligations
hereunder, may be disclosed in any public announcement or disclosure required by the SEC and in any registration statement, proxy
statement, consent solicitation statement or any other SEC filing to be filed by the Company in connection with such issuance and/or
the Transaction.

 

(i) The
Subscriber’s obligation to acquire its Purchase Allocation is conditioned upon the Company entering into forward purchase
and subscription agreements in the form as this Agreement with aggregate purchase allocations of at least $35 million under all
such agreements (collectively, the “FPAs”), including, for the avoidance of doubt, the Purchase Allocation contained
in this Agreement.

 

8. Survival.
All representations, warranties and covenants contained in this Agreement shall survive (i) the acceptance of this Agreement by
the Company and (ii) changes in the transactions, documents and instruments described herein which are not material or which are
to the benefit of the Subscriber, in each case until the earlier of the (A) Merger Closing or (B) Termination Date. Notwithstanding
the foregoing, if the Company does not receive the approval of its stockholders for the Extension, the Subscriber does not waive
its rights to any liquidating distributions from the Trust Account upon the redemption of such Subscriber’s shares. The Subscriber
acknowledges the meaning and legal consequences of the representations, warranties and covenants contained herein and that the
Company has relied upon such representations, warranties and covenants in determining such Subscriber’s qualification and
suitability to acquire the Offered Shares. For purposes of this Agreement, the “Termination Date” shall be the
earlier of (y) the date on which the Merger Agreement is terminated in accordance with its terms or (z) December 22, 2020.

 

    	 	11	 

     

    

 

9. Notices.
Any notice or communication required or permitted hereunder shall be in writing and either delivered personally, sent by overnight
mail via a reputable overnight carrier, or sent by certified or registered mail, return receipt requested and postage prepaid,
and shall be deemed to be given and received (a) when so delivered personally, (b) when received by the addressee if sent by reputable
overnight carrier, or (c) one (1) business day after the date of mailing if sent by certified or registered mail, in each case
to the address below or to such other address or addresses as such person may hereafter designate by notice given hereunder

 

(a)
if to the Company (prior to the Merger Closing), to the following address:

 

LF Capital Acquisition Corp.

600 Madison Avenue, New York, NY 10022

Attention: Scott Reed

E-mail: sreed@lfcapital.co

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

Dechert LLP

Three Bryant Park

1095 Avenue of the Americas

New York, NY 10036-6797

Attention: Martin Nussbaum; Christian A. Matarese

Email: martin.nussbaum@dechert.com; christian.matarese@dechert.com

(b) if after the
closing of the Transaction, to the Company, to:

 

Landsea Homes Corporation

660 Newport Center Drive, Suite 300

Newport Beach, CA 92660

Attention: Franco Tenerelli

Email:ftenerelli@landsea.us

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

Gibson, Dunn & Crutcher LLP

200 Park Avenue

New York, New York 10166-0193

Attention: Dennis Friedman; Michael Flynn; Evan D’Amico

Email:dfriedman@gibsondunn.com; mflynn@gibsondunn.com; edamico@gibsondunn.com

 

(c)
if to the Subscriber, to the address set forth on the signature page hereto.

 

(d)
or at such other address as any party shall have specified by notice in writing to the others.

 

10. Notification
of Changes. The Subscriber agrees and covenants to notify the Company immediately upon the occurrence of any event prior to
the Merger Closing that would cause any representation, warranty, covenant or other statement contained in this Agreement to be
false or incorrect or of any change in any statement made herein occurring prior to the Merger Closing. The Company agrees and
covenants to notify the Subscriber immediately upon the occurrence of any event prior to the Merger Closing that would cause any
representation, warranty, covenant or other statement contained in this Agreement to be false or incorrect or of any change in
any statement made herein occurring prior to the Merger Closing.

 

11. Assignability.
Neither this Agreement nor any rights that may accrue to the Subscriber hereunder may be transferred or assigned.

 

12. Amendments; Waiver. This Agreement
may not be amended, modified, waived or terminated except by an instrument in writing, signed by the party against whom enforcement
of such amendment, modification, waiver, or termination is sought, and no modification, waiver or amendment of this Agreement may
be agreed or otherwise consented to by the Company without the prior written consent of LHC and Landsea.

 

    	 	12	 

     

    

 

13. Additional
Information. The Company may request from the Subscriber such additional information as the Company may deem necessary to evaluate
the eligibility of the Subscriber to acquire the Offered Shares, and the Subscriber shall provide such information as may reasonably
be requested, to the extent readily available and to the extent consistent with its internal policies and procedures.

 

14. Binding
Effect. Except as otherwise provided herein, this Agreement shall be binding upon and inure to the benefit of the parties and
their heirs, successors and assigns, and the agreements, representations, warranties and acknowledgments contained herein shall
be deemed to be made by and be binding upon such heirs, executors, administrators, successors, legal representatives and assigns.
This Agreement does not confer any rights or remedies upon any person or entity other than the parties hereto and their heirs,
successors and permitted assigns; provided, however, that notwithstanding anything to the contrary herein, the Company
and the Subscriber acknowledges that money damages would not be an adequate remedy at Law if the Subscriber fails to perform in
any material respect any of its obligations hereunder and accordingly agree that each party, in addition to any other remedy to
which it may be entitled at Law or in equity, shall be entitled to seek (in addition to any other remedy to which such party is
entitled at law, in equity, in contract, in tort or otherwise) an injunction or similar equitable relief restraining such party
from committing or continuing any such breach or threatened breach or to seek to compel specific performance of the obligations
of any other party under this Agreement, without the posting of any bond, in accordance with the terms and conditions of this Agreement
in any court of the United States or any State thereof having jurisdiction, and if any action should be brought in equity to enforce
any of the provisions of this Agreement, none of the parties hereto shall raise the defense that there is an adequate remedy at
Law.

 

15. Agreement.
This Agreement constitutes the entire agreement, and supersedes all other prior agreements, understandings, representations and
warranties, both written and oral, among the parties, with respect to the subject matter hereof. The parties hereto acknowledge
and agree that each of LHC and Landsea has relied on this Agreement and, accordingly, that each of LHC and Landsea is an express
third party beneficiary of this Agreement entitled to the rights and benefits hereunder and to enforce the provisions hereof as
if it was a party hereto. This Agreement shall not confer any rights or remedies upon any person other than the parties hereto,
LHC and Landsea, and each of their respective successors and assigns. In addition, each of the parties hereto further acknowledges
and agrees that each Placement Agent is a third-party beneficiary of the representations and warranties of the respective parties
contained in Section 5 and Section 6 of this Agreement. This Agreement constitutes a single agreement between the Company and the
Subscriber and shall not be deemed to create any joint liability with any other subscriber under the FPAs.

 

16. Governing
Law. This Agreement and any claims or causes of action hereunder based upon, arising out of or related to this Agreement (whether
based on law, in equity, in contract, in tort or any other theory) or the negotiation, execution, performance or enforcement of
this Agreement, shall be governed by, and construed in accordance with, the laws of the state of Delaware, without regard to the
principles of conflicts of laws that would otherwise require the application of the law of any other state.

 

17. Jurisdiction. Each party hereto
irrevocably submits to the exclusive jurisdiction of the federal courts whose districts encompass any part of the District of Delaware
or the Court of Chancery of the State of Delaware (or, if the Court of Chancery of the State of Delaware lacks jurisdiction, then
in the applicable Delaware state court) solely in respect of the interpretation and enforcement of the provisions of this Agreement
and the documents referred to in this Agreement and in respect of the transactions contemplated hereby, and hereby waives, and
agrees not to assert, as a defense in any action, suit or proceeding for interpretation or enforcement hereof or any such document
that is not subject thereto or that such action, suit or proceeding may not be brought or is not maintainable in said courts or
that venue thereof may not be appropriate or that this Agreement or any such document may not be enforced in or by such courts,
and the parties hereto irrevocably agree that all claims with respect to such action, suit or proceeding shall be heard and determined
by such a Delaware state or federal court. The parties hereby consent to and grant any such court jurisdiction over the person
of such parties and over the subject matter of such dispute and agree that mailing of process or other papers in connection with
such action, suit or proceeding to the address at the signature page herein or in such other manner as may be permitted by law
shall be valid and sufficient service thereof.

 

    	 	13	 

     

    

 

18. Waiver of Jury Trial. Each party
acknowledges and agrees that any controversy which may arise under this Agreement or the transactions contemplated hereby is likely
to involve complicated and difficult issues, and therefore each such party hereby irrevocably and unconditionally waives any right
such party may have to a trial by jury in respect of any litigation directly or indirectly arising out of or relating to this Agreement
or the transactions contemplated by this Agreement. Each party certifies and acknowledges that (i) no representative, agent or
attorney of any other party has represented, expressly or otherwise, that such other party would not, in the event of litigation,
seek to enforce the foregoing waiver; (ii) such party understands and has considered the implications of the foregoing waiver;
(iii) such party makes the foregoing waiver voluntarily and (iv) such party has been induced to enter into this Agreement by, among
other things, the mutual waiver and certifications in this Section 18.

 

19. Severability.
If any provision of this Agreement or the application thereof to the Subscriber or any circumstance shall be held invalid or unenforceable
to any extent, the remainder of this Agreement and the application of such provision to other subscriptions or circumstances shall
not be affected thereby and shall be enforced to the greatest extent permitted by Law.

 

20. Construction.
The headings in this Agreement are inserted for convenience and identification only and are not intended to describe, interpret,
define, or limit the scope, extent or intent of this Agreement or any provision hereof. The rule of construction that an agreement
shall be construed strictly against the drafter shall not apply to this Agreement.

 

21. Counterparts;
Facsimile. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall
be deemed to be an original and all of which together shall be deemed to be one and the same agreement. A facsimile or other electronic
transmission (including by electronic mail or in .pdf) of this signed Agreement shall be legal and binding on all parties hereto.

 

22. Counsel.
The Subscriber hereby acknowledges that the Company and its counsel represent the interests of the Company and not those of the
Subscriber in any agreement (including this Agreement) to which the Company is a party.

 

 

[Signature Page to Follow]

    	 	14	 

     

    

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

 

LF CAPITAL ACQUISITION CORP.

By:_______________________________

Name:

Title:

 

 

LEVEL FIELD CAPITAL LLC

By:________________________________

Name:

Title:

 

[Signature
Page to Forward Purchase and Subscription Agreement]

    	 	15	 

     

    

IN WITNESS WHEREOF,
the undersigned Subscriber hereby executes, delivers, joins in and agrees to be bound by the Forward Purchase and Subscription
Agreement by and among LF Capital Acquisition Corp, Level Field Capital LLC and the Subscriber (as defined therein) to which this
Signature Page is attached as a Subscriber thereunder, which, together with all counterparts of such agreements and signature
pages of other parties to such agreements, shall constitute one and the same document in accordance with the terms of such agreements. 

	 	 
	 	 	 
	 	 	 
	 	Purchase Allocation: $[________]	 
	Name
    of Investor:	State/Country of Formation or Domicile:	
	 	 	 
	By:

         
	 	 
	Name:
        

         
	 	 
	Title:
        

         
	 	 
	 	 	 
	Name
    in which Offered Shares are to be registered (if different):	Date: _______________, 2020	

    

	Investor’s
    EIN:	 	 
	 	 	 
	Business
    Address-Street:	Mailing Address-Street (if different):	
	City,
State, Zip: 
	City, State, Zip:	
	 	 	 
	 	 	 
	 	 	 
	Attn:__________________	Attn:__________________	
	 	 	 
	Telephone
    No.:	Telephone No.:	
	Facsimile
    No.:	Facsimile No.:	
	 	 	 
	 	 	 

 

[Signature
Page to Forward Purchase and Subscription Agreement]

    	 	16	 

     

    

 

SCHEDULE A

ELIGIBILITY REPRESENTATIONS OF THE SUBSCRIBER

A.        QUALIFIED
INSTITUTIONAL BUYER STATUS

(Please check the
applicable subparagraphs):

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

B.        INSTITUTIONAL
ACCREDITED INVESTOR STATUS

(Please check the
applicable subparagraphs):

	 ̈		We
                                         are an “accredited investor” (within the meaning of Rule 501(a) under
                                         the Securities Act. for one or more of the following reasons (Please check the applicable
                                         subparagraphs):

	 ̈		We
                                         are a bank, as defined in Section 3(a)(2) of the Securities Act or any savings and
                                         loan association or other institution as defined in Section 3(a)(5)(A) of the Securities
                                         Act, whether acting in an individual or a fiduciary capacity.

	 ̈		We
                                         are a broker or dealer registered under Section 15 of the Securities Exchange Act
                                         of 1934, as amended.

	 ̈		We
                                         are an insurance company, as defined in Section 2(13) of the Securities Act.

	 ̈		We
                                         are an investment company registered under the Investment Company Act of 1940 or a business
                                         development company, as defined in Section 2(a)(48) of that act.

	 ̈		We
                                         are a Small Business Investment Company licensed by the U.S. Small Business Administration
                                         under Section 301(c) or (d) of the Small Business Investment Act of 1958.

	 ̈		We
                                         are a plan established and maintained by a state, its political subdivisions or any agency
                                         or instrumentality of a state or its political subdivisions for the benefit of its employees,
                                         if the plan has total assets in excess of $5 million.

	 ̈		We
                                         are an employee benefit plan within the meaning of the Employee Retirement Income Security
                                         Act of 1974, if the investment decision is being made by a plan fiduciary, as defined
                                         in Section 3(21) of such act, and the plan fiduciary is either a bank, a savings
                                         and loan association, an insurance company, or a registered investment adviser, or if
                                         the employee benefit plan has total assets in excess of $5 million, or a self-directed
                                         plan with investment decisions made solely by persons that are accredited investors.

 

    	 	17	 

     

    

 

	 ̈		We
                                         are a private business development company, as defined in Section 202(a)(22) of
                                         the Investment Advisers Act of 1940.

	 ̈		We
                                         are a corporation, Massachusetts or similar business trust, or partnership, or an organization
                                         described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended,
                                         that was not formed for the specific purpose of acquiring the Securities, and that has
                                         total assets in excess of $5 million.

	 ̈		We
                                         are a trust with total assets in excess of $5 million not formed for the specific purpose
                                         of acquiring the Securities, whose purchase is directed by a sophisticated person as
                                         described in Rule 506(b)(2)(ii) under the Securities Act.

	 ̈		We
                                         are an entity in which all of the equity owners are accredited investors.

C. ACCREDITED INVESTOR STATUS

(Please
check the applicable subparagraphs):

 

	 	o	The Subscriber is an “accredited investor” within the meaning of Rule 501(a) under the Securities Act for one or more of the following reasons:

 

	 	o	The Subscriber is a bank, as defined in Section 3(a)(2) of the Securities Act or any savings and loan association or other institution as defined in Section 3(a)(5)(A) of the Securities Act, whether acting in an individual or a fiduciary capacity.

 

	 	o	The Subscriber is a broker or dealer registered under Section 15 of the Securities Exchange Act of 1934, as amended.

 

	 	o	The Subscriber is an insurance company, as defined in Section 2(13) of the Securities Act.

 

	 	o	The Subscriber is an investment company registered under the Investment Company Act of 1940 or a business development company, as defined in Section 2(a)(48) of that act.

 

	 	o	The Subscriber is a Small Business Investment Company licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958.

 

	 	o	The Subscriber is a plan established and maintained by a state, its political subdivisions or any agency or instrumentality of a state or its political subdivisions for the benefit of its employees, if the plan has total assets in excess of $5 million.

 

	 	o	The Subscriber is an employee benefit plan within the meaning of Title I of the Employee Retirement Income Security Act of 1974, if the investment decision is being made by a plan fiduciary, as defined in Section 3(21) of such act, and the plan fiduciary is either a bank, an insurance company, or a registered investment adviser, or if the employee benefit plan has total assets in excess of $5 million.

 

    	 	18	 

     

    

 

	 	o	The Subscriber is a private business development company, as defined in Section 202(a)(22) of the Investment Advisers Act of 1940.

 

	 	o	The Subscriber is a corporation, Massachusetts or similar business trust, limited liability company, or partnership, or an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, that was not formed for the specific purpose of acquiring the Securities, and that has total assets in excess of $5 million.

 

	 	o	The Subscriber is a trust with total assets in excess of $5 million not formed for the specific purpose of acquiring the Securities, whose purchase is directed by a sophisticated person as described in Rule 506(b)(2)(ii) under the Securities Act.

 

	 	o	The Subscriber is a director or executive officer of the Company.

 

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

 

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

 

	 	o	The Subscriber is an entity in which all of the equity owners are accredited investors meeting one or more of the above tests.

D.        AFFILIATE
STATUS

(Please
check the applicable box)

THE SUBSCRIBER:

 ̈is:

 ̈is
not:

an
“affiliate” (as defined in Rule 144 under the Securities Act) of the Company, the Merger Sub, LHC or Landsea,
or acting on behalf of an affiliate of the Company, the Merger Sub, LHC or Landsea.

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

    	 	19EX-10.1

 Exhibit 10.1 

KARYOPHARM THERAPEUTICS INC. 

August 28, 2020 
 Michael Kauffman, M.D., Ph.D. 

c/o Karyopharm Therapeutics Inc. 
 85 Wells Avenue 

Newton, MA 02459 
 Dear Michael: 

Subject to your execution below, this letter hereby amends the employment letter, dated December 6, 2010, as amended on January 23,
2015, between you and Karyopharm Therapeutics Inc. (the “Company”) and provides for the following terms of employment. For the avoidance of doubt, nothing herein supersedes the Non-Disclosure
and Inventions Assignment Agreement you previously executed with the Company, which remains in effect, unaltered, in all respects. 
 1.
    Position. You will continue to serve as Chief Executive Officer, reporting to the Company’s Board of Directors (the “Board”). In your role you will have the responsibilities
customarily associated with such position and those that are assigned to you by the Company’s Board. During the term of your employment with the Company, you will devote your full professional time and efforts to the business of the
Company, except that you may engage in other activities that may be approved in advance by the Company’s Board of Directors (the “Board”). You will continue to be a member of the Board. 

2.     Compensation. 

a.     Base Salary. You will be paid an annual base salary of Six Hundred Twenty-Five Thousand Dollars
($625,000). Your base salary will be payable pursuant to the Company’s regular payroll policy. Your salary will be reviewed annually and may be increased by the Board in connection with any such review. 

b.     Bonus Program. You will be eligible for an annual bonus that targets sixty percent (60%) of your
annual base salary based upon achievement of certain performance goals and corporate milestones established by the Board in consultation with you. Achievement of goals will be determined in the sole discretion of the Board or a Compensation
Committee of the Board. To earn any part of the bonus, you must be employed on December 31st of the applicable bonus year and such bonus shall be paid no later than March 15th of the year immediately following the year to
which the applicable annual bonus relates. Your bonus target will be reviewed annually and may be modified by the Board in connection with any such review. 

c.     Option Grants. You are eligible for annual option grants in the Company’s sole discretion. 

d.     Withholding. The Company shall withhold from any compensation or benefits payable under this letter
agreement any federal, state and local income, employment or other similar taxes as may be required to be withheld pursuant to any applicable law or regulation. 

  
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 3.     Benefits. 

a.     Vacation and Holidays. You will be eligible for four weeks of paid vacation each year and Company paid
holidays consistent with the Company’s vacation policy offered to other executive level employees of the Company. 
 b.
    Other. You will be eligible to participate in such medical, retirement and other benefits as are approved by the Board and made available to other executive level employees of the Company. 

As is the case with all employee benefits, such benefits will be governed by the terms and conditions of applicable plans or policies, which
are subject to change or discontinuation at any time. 
 4.
    At-Will Employment. Your employment with the Company is and shall at all times during your employment hereunder be
“at-will” employment. The Company or you may terminate your employment at any time for any reason, with or without Cause, as defined in Section 5(d), and with or without notice. The “at-will” nature of your employment shall remain unchanged during your tenure as an employee of the Company, and may only be changed by an express written agreement that is signed by you and the Board.

 5.     Termination of Employment 

a.     If you resign your employment with the Company or if the Company terminates your employment other than for
“Cause” you will receive: (i) any unpaid base salary for services rendered prior to the date of termination or resignation; (ii) any earned but unpaid annual bonus for any year prior to the year in which termination of employment
occurs; (iii) reimbursement of any un-reimbursed business expenses incurred as of the date of termination or resignation in accordance with the Company’s reimbursement policy, (iv) accrued but
unused vacation (if applicable), earned through the effective resignation or termination date; and (v) all other payments, benefits or fringe benefits to which you shall be entitled under the terms of any applicable compensation arrangement or
benefit, equity or fringe benefit plan or program or grant or this letter agreement (collectively, clauses (i) through (v) shall be referred herein as the “Accrued Benefits”), and, except as set forth in paragraph (b), you
will not be entitled to any other compensation except as the Board may otherwise agree in its sole discretion. If the Company terminates your employment for Cause, at any time, then you will receive no additional compensation other than the
Accrued Benefits, except that the benefits described in Section 5(a)(ii) shall not be paid to you. 
 b.
    If the Company terminates your employment other than for “Cause” or if you terminate your employment for “Good Reason”, as such terms are defined below, subject to you providing the Company with a fully
effective separation agreement that includes a general release of claims in a form and manner reasonably satisfactory to the Company (the “Release”) within the 30-day period following the date
of termination, the Company shall, in addition to the amounts payable under paragraph (a), (i) in the case of the termination of your employment by the Company other than for “Cause” or by you for “Good Reason”, in either
case, prior to a Change of Control, (x) pay you severance pay in the form of continuation of your base salary for eighteen (18) months (the “Non-COC Severance Period”) and
(y) provided you elect to continue your and your eligible dependents’ participation in the Company’s medical and dental benefit plans pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1986 (“COBRA”), pay the
monthly premium to continue such coverage for the lesser of the eighteen (18) full calendar months immediately following the month in which the termination of your employment occurs and the end of the calendar month in which you become eligible
to receive group health plan coverage under another employee benefit plan or (ii) in the case of the termination of your employment by the Company other than for “Cause” or by you for “Good Reason”, in either case, after a
Change of Control, (x) pay you severance pay in the form of continuation of your base salary for eighteen (18) months (the “COC Severance Period”) in accordance with the Company’s payroll practice,

  
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beginning on the Company’s first regular payroll date that occurs 30 days after the date of termination; (y) pay to you an amount equal to 150% of your target annual bonus for the year
in which your termination occurs, which amount shall be payable in a lump sum on the date that the first continued salary payment is made to you under this agreement; and (z) provided you elect to continue your and your eligible
dependents’ participation in the Company’s medical and dental benefit plans pursuant to COBRA, pay the monthly premium to continue such coverage for the lesser of the eighteen (18) full calendar months immediately following the month
in which the termination of your employment occurs and the end of the calendar month in which you become eligible to receive group health plan coverage under another employee benefit plan (as applicable, the “Severance
Benefits”). Solely for purposes of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), each salary continuation payment is considered a separate payment. To the
extent that any Severance Benefit constitutes “non-qualified deferred compensation” under Section 409A of the Code, then such payments or benefits shall be payable only upon the Executive’s
“separation from service.” The determination of whether and when a separation from service has occurred shall be made in accordance with the presumptions set forth in Treasury Regulation
Section 1.409A-l(h). Notwithstanding the foregoing, the Severance Benefits will be reduced dollar for dollar by any compensation you receive from another employer during the period between the date
of termination of your employment and the end of the Non-COC Severance Period or COC Severance Period, as applicable, if you become re-employed during such
period. You agree to give prompt written notice of any employment during the Non-COC Severance Period or COC Severance Period, as applicable, and to respond promptly to any reasonable inquiries concerning
your professional activities. If the Company makes any overpayment of Severance Benefits, you agree to promptly return any such overpayment to the Company. The foregoing shall not create any obligation on your part to seek reemployment
after the date of termination of your employment. 
 For purposes of this paragraph, the following terms will have the following meanings:

 (i)     “Good Reason” shall mean that you have complied with the “Good Reason Process,” as
defined below, following the occurrence of any of the following events after a Change of Control: (i) a material diminution in your responsibilities, authority or duties; (ii) you are not elected to, or are removed, from the surviving
company’s Board; (iii) you are made to report to anyone other than the surviving company’s Board; or (iv) the surviving company’s corporate headquarters are located outside Massachusetts. 

(ii)     “Good Reason Process” shall mean that (i) you reasonably determine in good faith that a
“Good Reason” condition has occurred; (ii) you notify the Company in writing of the first occurrence of the Good Reason condition within ten (10) days of the first occurrence of such condition; (iii) you cooperate in good
faith with the Company’s efforts, for a period not less than thirty (30) days following such notice (the “Cure Period”), to remedy the condition; (iv) notwithstanding such efforts, the Good Reason condition continues
to exist; and (v) you terminate your employment within thirty (30) days after the end of the Cure Period. If the Company cures the Good Reason condition during the Cure Period, Good Reason shall be deemed not to have occurred. 

(iii)    “Change of Control” shall mean any of the following: 

1.     any “person,” as such term is used in Sections 13(d) and 14(d) of the Securities Exchange
Act of 1934, as amended (the “Act”) (other than the Company, any of its subsidiaries, or any trustee, fiduciary or other person or entity holding securities under any employee benefit plan or trust of the Company or any of its
subsidiaries), together with all “affiliates” and “associates” (as such terms are defined in Rule 12b-2 under the Act) of such person, shall become the “beneficial owner” (as
such term is defined in Rule 13d-3 under the Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the combined voting power of the Company’s
then outstanding securities having the right to vote in an election of the Board (“Voting Securities”) in such case other than as a result of an acquisition of securities directly from the Company; or 

  
 3 

 2.     the date a majority of the members of the Board is replaced
during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members of the incumbent Board before the date of the appointment or election, provided, further that
directors whose initial assumption of office is in connection with an actual or threatened election contest related to the election of directors of the Company will not be considered as members of the incumbent Board for purposes of this paragraph
for a period of twelve (12) months following such initial assumption; or 
 3.     the consummation of
(A) any consolidation or merger of the Company where the stockholders of the Company, immediately prior to the consolidation or merger, would not, immediately after the consolidation or merger, beneficially own (as such term is defined in Rule 13d-3 under the Act), directly or indirectly, shares representing in the aggregate more than fifty percent (50%) of the voting shares of the Company issuing cash or securities in the consolidation or
merger (or of its ultimate parent corporation, if any,), or (B) any sale or other transfer (in one transaction or a series of transactions contemplated or arranged by any party as a single plan) of all or substantially all of the assets of the
Company. 
 Notwithstanding the foregoing, a “Change in Control” shall not be deemed to have occurred for purposes of the
foregoing clause (i) solely as the result of an acquisition of securities by the Company which, by reducing the number of shares of Voting Securities outstanding, increases the proportionate number of Voting Securities beneficially owned by any
person to fifty percent (50%) or more of the combined voting power of all of the then outstanding Voting Securities; provided, however, that if any person referred to in this sentence shall thereafter become the beneficial owner of any
additional shares of Voting Securities (other than pursuant to a stock split, stock dividend, or similar transaction or as a result of an acquisition of securities directly from the Company) and immediately thereafter beneficially owns fifty percent
(50%) or more of the combined voting power of all of the then outstanding Voting Securities, then a “Change in Control” shall be deemed to have occurred for purposes of this letter agreement. 

c.     If your employment terminates because of your death or Disability, then you will receive the Accrued
Benefits. For purposes of this letter agreement, “Disability” shall be defined as your inability to have performed your material duties hereunder due to a physical or mental injury, infirmity or incapacity for one hundred eighty
(180) days (including weekends and holidays) in any 365-day period. 
 d.
    For purposes of this letter agreement, “for Cause” shall mean: (i) dishonesty, embezzlement, misappropriation of assets or property of the Company; (ii) gross negligence, willful misconduct, neglect of
duties, theft, fraud or breach of fiduciary duty to the Company; (iii) violation of federal or state securities law; (iv) the conviction of a felony or any crime involving moral turpitude, including a plea of guilty or nolo
contendre; (v) a material breach of any of the Company’s written policies related to conduct or ethics; or (vi) a material breach of the Nondisclosure and Inventions Assignment Agreement, dated January 1, 2011, between you
and the Company (the “Confidentiality Agreement”). 
 6.     Employee Confidentiality
Agreement. As an employee of the Company, you will have access to certain Company and third party confidential information and you may during the course of your employment develop certain information or inventions which will be the property
of the Company. You acknowledge the continuing effectiveness of the Confidentiality Agreement. 
 7.
    Resolution of Disputes. Any controversy or claim arising out of or relating to your employment, this letter agreement, its enforcement or interpretation, or because of an alleged breach, default, or
misrepresentation in connection with any of its provisions, shall be submitted to arbitration in 

  
 4 

 
Boston, Massachusetts before a single arbitrator (applying Massachusetts law), in accordance with the National Rules for the Resolution of Employment Disputes then in effect of the American
Arbitration Association (“AAA”) as modified by the terms and conditions of this Section 7; provided, however, that provisional injunctive relief may, but need not, be sought in a court of law while arbitration
proceedings are pending, and any provisional injunctive relief granted by such court shall remain effective until the matter is finally determined by the arbitrator. The arbitrator shall be selected by mutual agreement of the parties or, if the
parties cannot agree, by striking from a list of arbitrators supplied by AAA. The arbitrator shall issue a written opinion revealing, however briefly, the essential findings and conclusions upon which the award is based. Final resolution
of any dispute through arbitration may include any remedy or relief which the arbitrator deems just and equitable. Any award or relief granted by the arbitrator hereunder shall be final and binding on the parties hereto and may be enforced by
any court of competent jurisdiction. 
 The parties acknowledge that they are hereby waiving any rights to trial by jury in any action,
proceeding or counterclaim brought by either of the parties against the other in connection with any matter whatsoever arising out of or in any way connected with this letter agreement or your employment. 

The Company shall pay the arbitrator’s fees and arbitration expenses and any other costs associated with the arbitration or arbitration
hearing that are unique to arbitration. The Company and you each shall separately pay its or your own deposition, witness, expert and attorneys’ fees and other expenses as and to the same extent as if the matter were being held in court
unless otherwise provided by law. The arbitrator shall have the sole and exclusive power and authority to decide any and all issues of or related to whether this letter agreement or any provision of this letter agreement is subject to
arbitration. 
 8.     No Inconsistent Obligations. By accepting this offer of employment, you
represent and warrant to the Company that you are under no obligations or commitments, whether contractual or otherwise, that are inconsistent with your obligations set forth in this letter agreement or that would be violated by your employment by
the Company. You agree that you will not take any action on behalf of the Company or cause the Company to take any action that will violate any agreement that you have with a prior employer. 

9.     Indemnification and Liability Insurance. The Company will provide you certain rights to
indemnification as set forth in the Company’s standard form of indemnification agreement for executive officers and directors. 

10.     Miscellaneous. 

a.     This letter agreement may be executed in several counterparts, each of which shall be deemed to be an original but
all of which together will constitute one and the same instrument. 
 b.     The Company may only assign this letter
agreement to a successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company, provided, that such successor expressly agrees to assume and
perform this letter agreement in the same manner and to the same extent that the Company would have been required to perform it if no such assignment had taken place, and “Company” shall include any such successor that assumes and agrees
to perform this letter agreement, by operation of law or otherwise. 
 c.     No provision of this letter agreement may
be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and signed by you and such officer or director as may be designated by the Board. No waiver by either party hereto at any time of any breach
by the other party hereto of, or compliance with, any condition or provision of this letter agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or
subsequent time. 

  
 5 

 11.     The validity, interpretation, construction and performance of
this letter agreement shall be governed by the laws of the Commonwealth of Massachusetts without regard to the choice of law principles thereof. 

If you have any further questions or require additional information, please feel free to contact me. 

[Signatures appear on following page] 

  
 6 

 
			
	Sincerely,
	
	KARYOPHARM THERAPEUTICS INC.
		
	By:	 	 /s/ Michael Mason

	Name:	 	Michael Mason
	Title:	 	SVP, Chief Financial Officer & Treasurer

  

			
	 I hereby agree to the foregoing

terms of employment:

		
	Agreed:	 	 /s/ Michael Kauffman

		 	Michael Kauffman, M.D., Ph.D.
		
	Date:	 	 August 31, 2020

  
 7

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