Document:

EXHIBIT
10.1

 

CONTINGENT
VALUE RIGHTS AGREEMENT

 

THIS
CONTINGENT VALUE RIGHTS AGREEMENT, dated as of [●], 2022 (this “Agreement”), by and among COMMUNICATIONS
SYSTEMS, INC., a Minnesota corporation (the “Parent”), Equiniti Trust Company, as Rights Agent (the “Rights
Agent”), and [●], in [its/his/her] capacity as the initial CVR Holders’ Representative (the “CVR
Holders’ Representative”).

 

Recitals

 

WHEREAS,
the Parent, Helios Merger Co., a Delaware corporation and direct wholly owned subsidiary of the Parent (the “Merger Sub”),
and Pineapple Energy, LLC, a Delaware limited liability company (the “Company”), entered into an Agreement
and Plan of Merger dated as of March 1, 2021 (as may be amended or restated from time-to-time, the “Merger Agreement”),
pursuant to which the Merger Sub will merge with and into the Company (the “Merger”), with the Company surviving
the Merger as a subsidiary of the Parent;

 

WHEREAS,
pursuant to the Merger Agreement, the Parent agreed to issue and distribute to the Persons, who as of immediately prior to the
Effective Time are shareholders of record of the Parent, the right to receive certain contingent value rights, on the terms and
subject to the conditions hereinafter described; and

 

WHEREAS,
the Parent desires that the Rights Agent act as its agent, from and after the Effective Time of the Merger, for the purposes of
effecting the distribution of the CVRs (as hereinafter defined) to those shareholders of the Parent entitled to receive CVRs and
performing the other services described in this Agreement.

 

NOW
THEREFORE, in consideration of the foregoing
and the consummation of the transactions referred to above, the parties hereto, intending to be legally bound, agree as follows:

 

ARTICLE
I

DEFINITIONS

 

Section
1.1.         Definitions. For all purposes of this Agreement, except as otherwise expressly provided
or unless the context otherwise requires:

 

(a)          the
terms defined in this Article have the meanings assigned to them in this Article, and include the plural as well as the singular;

 

(b)          all
accounting terms used herein and not expressly defined herein shall have the meanings assigned to such terms in accordance with
United States generally accepted accounting principles, as in effect on the date hereof;

 

(c)          the
words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Agreement
as a whole and not to any particular Article, Section or other subdivision;

 

(d)          unless
the context otherwise requires, words describing the singular number shall include the plural and vice versa, words denoting any
gender shall include all genders and words denoting natural Persons shall include corporations, limited liability companies, partnerships
and other Persons and vice versa;

 

(e)          all
references to “including” shall be deemed to mean including without limitation; and

 

(f)          capitalized
terms used but not otherwise defined herein shall have the meanings ascribed thereto in the Merger Agreement. The following terms
shall have the meanings ascribed to them as follows:

 

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“Accountant”
has the meaning set forth in Section 2.8.

 

“Affiliate”
means, with respect to any Person, any Person that controls, is controlled by, or is under common control with such Person.

 

“Business
Day” means any day except Saturday, Sunday or any other day on which commercial banks located in Minneapolis, Minnesota
are authorized or required by Law to be closed for business.

 

“CVR
Escrow” means a segregated escrow account controlled by Parent in which all: (i) Net Proceeds, and (ii) the Reserve
Fund amounts, if any, will be held until disbursed pursuant to the terms of this Agreement.

 

“CVR
Payment Amount” means (a)(i) with respect to any Legacy Monetization for which a Disposition Agreement or Qualified
LOI is entered into prior to the Effective Time (but, with respect to a Qualified LOI, only if the Legacy Monetization is on terms
and conditions that are substantially similar to the terms and conditions set forth in the Qualified LOI), 100% of the Net Proceeds
in respect of each respective item of Gross Proceeds received by the Parent or any of its Affiliates regardless of when any such
Gross Proceeds are actually received, or (ii) with respect to any Legacy Monetization for which a Disposition Agreement is entered
into following the Effective Time (other than in connection with a Qualified LOI), 90% of Net Proceeds in respect of each respective
item of Gross Proceeds received by the Parent or any of its Affiliates as a result of any Legacy Monetization regardless of when
any such Gross Proceeds are actually received, less (b) any Reserve Fund amounts applicable to each such respective item
of Gross Proceeds, which amounts shall be determined as provided in Section 2.5 herein. Notwithstanding the foregoing, any CVR
Payment Amount that is less than $200,000 shall be aggregated with the next subsequent CVR Payment Amount, and if not paid prior
thereto, included in the Final CVR Payment and, further provided, in no event shall any CVR Payment, including the Final CVR Payment,
be made if the CVR Payment Amount would be less than $50,000 in the aggregate.

 

“CVR
Payment Date” means the fifth Business Day after the CVR Payment Determination Date.

 

“CVR
Payment Determination Date” means, for each CVR Payment Period during the term of this Agreement, the earlier of: (i)
the date, following the end of such CVR Payment Period, on which the Parent and the CVR Holders’ Representative agree in
writing as to the amount of the CVR Payment payable for such period in accordance with Section 2.5; or (ii) the date any dispute
with respect to such CVR Payment Amount is resolved pursuant to the provisions of Section 2.5.

 

“CVR
Payment Period” means each calendar quarter during the CVR Term, with the first CVR Payment Period commencing on the
date hereof and ending on [●], 2022.

 

“CVR
Payment Statement” means, for a given CVR Payment Period, a written statement of the Parent, setting forth in reasonable
detail, (i) the CVR Payment Amount for such CVR Payment Period, (ii) a description of the total amounts received during such CVR
Payment Period from each Legacy Monetization, and (iii) a calculation of any Monetization Expenses during such CVR Payment Period.

 

“CVR
Register” has the meaning set forth in Section 2.4(b).

 

“CVR
Registrar” has the meaning set forth in Section 2.4(b).

 

“CVRs”
means the contingent value rights issued by the Parent as contemplated by this Agreement. Unless otherwise specified herein, for
purposes of this Agreement all the CVRs shall be considered as part of and shall act as one class only.

 

“CVR
Term” means the period beginning on the Effective Time and ending on the date that is 24 months following the Effective
Time.

 

“Disposition
Agreement” means a definitive agreement, contract or other document entered into by the Parent providing for the sale,
transfer, disposition, spin-off, or license of all or any part of the Parent Legacy Assets.

 

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“DTC”
means The Depository Trust Company or any successor thereto.

 

“Effective
Time” has the meaning set forth in the Merger Agreement.

 

“Final
CVR Payment” means the CVR Payment Date on which the last CVR Payment related to all the Legacy Monetization is made.

 

“Gross
Proceeds” means all cash or cash proceeds (and the fair market value, as determined by the Parent as of the time of
receipt, of all non-cash consideration such as stock or marketable securities) received by the Parent from a Legacy Monetization.

 

“Holder”
means a Person in whose name a CVR is registered in the CVR Register, and includes any Person who becomes a Holder pursuant to
a Permitted Transfer upon such Person’s registry in the CVR Register.

 

“Legacy
Monetization” means the sale, transfer, disposition, spin-off, or license of all or any part of the Parent Legacy Assets,
which transaction is consummated during the CVR Term. A Legacy Monetization will also include the distribution of any cash or
cash equivalents (“Legacy Cash”) that are a part of the Parent Legacy Assets in any amount that is in excess
of the liabilities and obligations relating to Parent or the Parent Legacy Assets at the Effective Time.

 

“Legacy
Shareholders” has the meaning set forth in Section 2.2.

 

“Monetization
Expenses” means:

 

(a)          any
expenses incurred or accrued relating to any unpaid invoice by the Parent or any of its Affiliates as a result of pursuing, negotiating,
entering into and closing any Legacy Monetization, fees and out-of-pocket expenses of the Rights Agent and CVR Holders’
Representative and any other brokerage fee, finder’s fee, success fees, transaction fees, service fees, commission, accountant
fees, advisor fees, legal fees and similar items in incurred as a result of pursuing, negotiating, entering into and closing any
Legacy Monetization, provided, however, that, in each case, in no event shall the Monetization Expenses include any administrative
or similar expenses or fees payable by the Parent in connection with its general overhead;

 

(b)          any
applicable Tax (including any applicable value added or sales taxes) imposed on Gross Proceeds and payable by the Parent or any
of its Affiliates following the Effective Time (regardless of whether the due date for such Taxes arises during or after the CVR
Term) and, without duplication, any income or other similar Taxes payable by the Parent or any of its Affiliates following the
Effective Time that would not have been incurred by the Parent or any of its Affiliates but for the Legacy Monetization or Gross
Proceeds; provided that such Taxes shall be computed after taking into account any available net operating loss carryforwards
or other Tax attributes existing as of the Effective Time actually recognized by the Parent or its Affiliates;

 

(c)          to
the extent not paid with Legacy Cash or by revenue generated solely by the Parent Legacy Assets prior to the closing of the Legacy
Monetization, any expenses incurred by Parent or any of its Affiliates in respect of the performance of this Agreement following
the Effective Time, including preserving and maintaining any Parent Legacy Assets, indemnification expenses with respect to Parent
Legacy Assets, allocation of rent expenses or in respect of its performance of any Contract in connection with any Parent Legacy
Assets, including any costs related to the prosecution, maintenance or enforcement by Parent or any of its Affiliates of intellectual
property rights in the Parent Legacy Assets;

 

(d)          any
loss, liability, damage, judgment, fine, penalty, cost or expense incurred or reasonably
expected to be incurred by or payable by Parent or any of its Affiliates following the Effective Time arising out of any third-party
claims, demands, actions, or other proceedings relating to any disposition of Parent Legacy Assets, including indemnification
obligations of the Parent or any of its Affiliates set forth in any Disposition Agreement (a “Loss”). To the
extent any Loss to Parent is mitigated, in whole or in part, by the receipt of net proceeds from insurance by Parent during the
CVR

 

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Term, such amounts received shall be treated as Monetization Expenses (as a credit), with net proceeds from insurance calculated
as the gross proceeds received by Parent from insurance policies, less expenses incurred or accrued by Parent relating
to the collection of such insurance proceeds (including any administrative or similar expense and the costs of employees and consultants
of Parent in connection with obtaining such proceeds), less the net present value of anticipated future insurance price
increases to Parent in connection with such claims (as determined by Parent’s board of directors), with Parent under no
obligation to maintain any insurance or attempt to collect any such insurance payments; and

 

(e)          to
the extent not paid by revenue generated solely by the Parent Legacy Assets prior to the closing of the Legacy Monetization, any
Liabilities borne by the Parent or any of its Affiliates pursuant to any Contract or Disposition Agreement primarily related to
Parent Legacy Assets, including costs or severance payments and benefits arising from the termination thereof and the termination
of employees of Parent whose position related primarily to the Parent Legacy Assets; provided, that obligations under the change
in control agreements related to the persons set forth on Schedule 2 shall not constitute Monetization Expenses unless
these scheduled individuals are notified of termination of employment or the individuals notify Parent of their intent to terminate
their employment prior to the Effective Time.

 

“Net
Proceeds” means, with respect to each respective Legacy Monetization, the excess, if any, of (i) all Gross Proceeds
less (ii) all Monetization Expenses. For clarity, to the extent Monetization Expenses
exceed Gross Proceeds for any CVR Payment Period, any excess Monetization Expenses shall be applied against Gross Proceeds in
subsequent CVR Payment Periods.

 

“Notice
of Objection” has the meaning set forth in Section 2.5(b).

 

“Parent
Legacy Assets” means any and all assets, properties, and equipment of the Parent in existence as of the Effective Time.
Notwithstanding the foregoing, Parent may retain and utilize duplicate copies of the books and records of Parent and such duplicated
books and records are not Parent Legacy Assets.

 

“Permitted
Transfer” means: (i) a transfer of any or all of the CVRs (upon the death of the Holder) by will or intestacy; (ii)
a transfer by instrument to an inter vivos or testamentary trust in which the CVRs are to be passed to beneficiaries under the
terms of such trust; (iii) transfers made pursuant to a court order of a court of competent jurisdiction (such as in connection
with divorce, bankruptcy or liquidation); (iv) a transfer made by operation of law (including a consolidation or merger) or in
connection with the dissolution, liquidation or termination of any corporation, limited liability company, partnership or other
entity; (v) a transfer from a participant’s account in a tax-qualified employee benefit plan to the participant or to such
participant’s account in a different tax-qualified employee benefit plan or to a tax-qualified individual retirement account
for the benefit of such participant; or (vi) a transfer from a participant in a tax-qualified employee benefit plan, who received
the CVRs from such participant’s account in such tax-qualified employee benefit plan, to such participant’s account
in a different tax-qualified employee benefit plan or to a tax-qualified individual retirement account for the benefit of such
participant.

 

“Person”
means any individual, firm, corporation, limited liability company, partnership, trust or other entity, and shall include any
successor (by merger or otherwise) thereof or thereto.

 

“Qualified
LOI” means any letter of intent, memorandum of understanding or term sheet, which document includes substantially all
of the material terms of the transaction with specificity (such as price, payment terms (including escrows, earn-outs, milestones,
working capital or purchase price adjustments or similar matters), employment matters, indemnification terms, covenants and other
material terms) that results in a transaction that closes (on substantially similar terms with the same counterparty (or an affiliate
or related party thereof) as set forth in such letter of intent, memorandum of understanding or term sheet) within the later of
(i) six months after the date of such letter of intent, memorandum of

 

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understanding or term sheet or (ii) six months after the
Effective Time. For the avoidance of doubt, if a definitive agreement, contract or other document is subsequently entered into
by the Parent prior to the Effective Time that provides for the sale, transfer, disposition, spin-off, or license of all or any
part of the Parent Legacy Assets and such definitive agreement, contract or other document replaces any such letter of intent,
memorandum of understanding or term sheet, the same shall constitute a Disposition Agreement for all purposes herein and not a
Qualified LOI.

 

“Reserve
Fund” means, with regard to each particular Legacy Monetization other than a distribution of Legacy Cash, an amount
reasonably determined by the Parent, not to exceed: (i) in the case of any Legacy Monetization arising out of a Qualified LOI
or for which a Disposition Agreement is entered into prior to the Effective Time, 7.5% of the Gross Proceeds of such Legacy Monetization,
and (ii) in the case of any Legacy Monetization for which a Disposition Agreement is entered into following the Effective Time
(other than in connection with a Qualified LOI), 6.75% of the Gross Proceeds of such Legacy Monetization, which is to be retained
as part of the CVR Escrow in accordance with this Agreement to satisfy any indemnification obligations of the Parent contained
in the Disposition Agreement for such Legacy Monetization in excess of any escrow fund established pursuant to the Disposition
Agreement for such Legacy Monetization for purposes of satisfying the Parent’s indemnification obligations thereunder.

 

“Surviving
Person” has the meaning set forth in Section 6.1(a).

 

ARTICLE
II

CONTINGENT VALUE RIGHTS

 

Section
2.1.         Appointment of Rights Agent. The Parent hereby appoints Equiniti Trust Company to act
as the Rights Agent for the Parent in accordance with the instructions hereinafter set forth in this Agreement, and the Rights
Agent hereby accepts such appointment.

 

Section
2.2.         Issuance of CVRs. The CVRs shall be issued and distributed by the Rights Agent after
the Effective Time to the Persons who as of the close of trading on the Nasdaq Capital Market on the Business Day before the Effective
Time are shareholders of record of the Parent (the “Legacy Shareholders”). Each Legacy Shareholder is entitled
to one CVR for each share of Parent Common Stock held by such Legacy Shareholder as of immediately prior to the Effective Time.

 

Section
2.3.         Nontransferable. The CVRs may not and shall not be sold, assigned, transferred, pledged,
encumbered or in any other manner transferred or disposed of, in whole or in part, other than through a Permitted Transfer. The
CVRs will not be listed on any quotation system or traded on any securities exchange.

 

Section
2.4.         No Certificate; Registration; Registration of Transfer; Change of Address.

 

(a)          The
CVRs shall be issued in book-entry form only and shall not be evidenced by a certificate or other instrument.

 

(b)          The
Rights Agent shall keep a register (the “CVR Register”) for the registration of CVRs. The Rights Agent is hereby
initially appointed as the registrar and transfer agent (the “CVR Registrar”) for the purpose of registering
CVRs and transfers of CVRs as herein provided. The CVR Register will initially show one
position for Cede & Co. representing shares of Parent Common Stock held by DTC on behalf of the street holders of the shares
of Parent Common Stock held by such holders as of immediately prior to the Effective Time. The Rights Agent will have no responsibility
whatsoever directly to the street name holders with respect to transfers of CVRs. With respect to any payments or issuances to
be made under this Agreement, the Rights Agent will accomplish the payment to any former street name holders of shares of Parent
Common Stock by sending one lump-sum payment or issuance to

 

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DTC. The Rights Agent will have no responsibilities whatsoever with
regard to the distribution of payments by DTC to such street name holders.

 

(c)          Subject
to the restriction on transferability set forth in Section 2.3, every request made to effect a Permitted Transfer of a
CVR must be in writing and accompanied by a written instrument or instruments of transfer and any other requested documentation
in a form reasonably satisfactory to the Parent and the CVR Registrar, duly executed by the registered Holder or Holders thereof
or by the duly appointed legal representative thereof. A request for a transfer of a CVR shall be accompanied by such documentation
establishing satisfaction that the transfer is a Permitted Transfer as may be reasonably requested by the Parent and the CVR Registrar
(including opinions of counsel), if appropriate. Upon receipt of such written notice, the CVR Registrar shall, subject to its
reasonable determination that the transfer instrument is in proper form and the transfer otherwise complies with the other terms
and conditions herein, register the transfer of the CVRs in the CVR Register. All duly transferred CVRs registered in the CVR
Register shall be the valid obligations of the Parent, evidencing the same right and shall entitle the transferee to the same
benefits and rights under this Agreement, as those held by the transferor. No transfer of a CVR shall be valid until registered
in the CVR Register, and any transfer not duly registered in the CVR Register will be void ab initio. Any transfer or assignment
of the CVRs shall be without charge (other than the cost of any transfer Tax which shall be the responsibility of the transferor)
to the Holder. The Parent and the Rights Agent may require evidence of payment of a sum
sufficient to cover any stamp, documentary, registration, or other Tax or governmental charge that is imposed in connection with
any such registration of transfer (or evidence that such Taxes and charges are not applicable). 

 

(d)          A
Holder (or the CVR Holders’ Representative, on behalf of a Holder) may make a written request to the CVR Registrar to change
such Holder’s address of record in the CVR Register. The written request must be duly executed by the Holder and conform
to such other reasonable requirements as the CVR Registrar may from time to time establish. Upon receipt of such proper written
notice, the CVR Registrar shall promptly record the change of address in the CVR Register.

 

(e)          The
Parent will provide written instructions to the Rights Agent for the distribution of CVRs to holders of Parent Common Stock as
of immediately prior to the Effective Time. Subject to the terms and conditions of this Agreement and the Parent’s prompt
confirmation of the Effective Time, the Rights Agent shall effect the distribution of the CVRs, less any applicable withholding
tax, to each holder of Parent Common Stock as of the Effective Time by the mailing of a statement of holding reflecting such CVRs.

 

Section
2.5.         Quarterly Payment Procedures During CVR Term.

 

(a)          No
later than 30 days after the end of each CVR Payment Period during the CVR Term in which the Parent received Gross Proceeds, the
Parent shall deliver to the CVR Holders’ Representative and Rights Agent a CVR Payment Statement for such CVR Payment Period.
In the event the CVR Payment Statement is delivered before ten days after the end of a CVR Payment Period during the CVR Term,
it shall be deemed delivered on the tenth day after the end of a CVR Payment Period (the “Earliest Delivery Date”).
Concurrent with the delivery of each CVR Payment Statement, the Parent shall provide the CVR Holders’ Representative and
Rights Agent with reasonable documentation to support its calculation of the CVR Payment, if any, and Monetization Expenses. Upon
the CVR Holders’ Representative’s request, the Parent shall make its accounting personnel available during normal
business hours to the CVR Holders’ Representative or its authorized representative to discuss, answer questions and, to
the extent available to the Parent, provide written information reasonably related to the calculation of the proposed CVR Payment
Amount. Following consideration of the information provided by the Parent, no later than 15 days after the CVR Holders’
Representative’s receipt of all information contemplated by this Section 2.5(a), the CVR Holders’ Representative
may deliver a written notice to Parent objecting (with a copy to the Rights Agent) to the calculation of the CVR Payment Amount
and

 

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Monetization Expenses (a “Notice of Objection”), stating the basis upon which the CVR Holders’ Representative
has determined that (i) a CVR Payment Amount is due and payable, or (ii) the calculation of the CVR Payment Amount is in error.
Any Notice of Objection shall identify in reasonable detail the nature of any proposed revisions to the CVR Payment. If the CVR
Holders’ Representative fails to deliver a Notice of Objection within such 15-day period, the last day of such period shall
be the CVR Payment Determination Date. If, after delivery of a Notice of Objection, the Parent and CVR Holders’ Representative
informally agree in writing on the amount of the CVR Payment, if any, and calculation of Monetization Expenses, the date of such
agreement shall be deemed the CVR Payment Determination Date (provided, that if such date is before the Earliest Delivery Date,
the CVR Payment Determination Date shall be the Earliest Delivery Date). If, after [●] days, the Parent and CVR Holders’
Representative are unable to agree informally on the amount of the CVR Payment, if any, and calculation of Monetization Expenses,
any dispute arising from the Notice of Objection shall be resolved in accordance with Section 7.4 or by an independent
third party valuation expert selected by the Parent and the CVR Holders’ Representative (and subject to the execution of
a reasonable and customary confidentiality/nonuse agreement), whose decision shall be binding on the parties hereto and every
Holder; and, the date of such decision shall be the CVR Payment Determination Date (provided, that if such date is before the
Earliest Delivery Date, the CVR Payment Determination Date shall be the Earliest Delivery Date). The fees charged by the valuation
expert referenced in the foregoing sentence shall be allocated between the Parent and the Holders (by deduction from the CVR Payment
Amount) in the same proportion that the disputed amount of the CVR Payment Amount that was unsuccessfully disputed by (as finally
determined by the valuation expert) bears to the total disputed amount of the CVR Payment Amount.

 

(b)          On
or before each CVR Payment Date, the Parent shall deliver to the Rights Agent and cause the Rights Agent to deliver to the Holders,
pro rata as to their CVR holdings, the amount of the indicated CVR Payment Amount. It is understood that all Monetization Expenses
shall be applied in full (but without duplication) against respective Gross Proceeds. Any Reserve Fund amounts in the CVR Escrow
established for a Legacy Monetization shall be released from such Reserve Fund upon the earlier of: (i) 12 months following the
consummation of the applicable Legacy Monetization; and (ii) the expiration of any generally applicable indemnity escrow established
for purposes of breaches of the Parent’s representations and warranties in any Disposition Agreement. Thereafter, any such
released Reserve Fund amounts shall be included by the Parent in the CVR Payment Amount paid on the next CVR Payment Date.

 

(c)          All
payments by the Parent hereunder shall be made in U.S. dollars. The Parent shall be entitled to deduct and withhold, or cause
to be deducted or withheld, from each CVR Payment Amount otherwise payable pursuant to this Agreement, such amounts as Parent
is required to deduct and withhold with respect to the making of such payment under the Internal Revenue Code of 1986, as amended
or succeeded, or any provision of state, local or foreign tax law. To the extent that amounts are so withheld or paid over to
or deposited with the relevant governmental entity, such withheld amounts shall be treated for all purposes of this Agreement
as having been paid to the Holder in respect of which such deduction and withholding was made.

 

(d)          Nothing
in this Agreement, including this Section 2.5, shall preclude Parent, CVR Holders’ Representative, and Rights Agent from
agreeing to and effectuating a special CVR Payment to Holders prior to the end of a calendar quarter on such terms and conditions
as to which they mutually agree.

 

Section
2.6.         No Voting, Dividends or Interest; Authority Vested in the CVR Holders’ Representative; No Equity or Ownership Interest
in Parent.

 

(a)          The
CVRs shall not have any voting or dividend rights, and interest shall not accrue on any amounts payable on the CVRs.

 

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(b)          The
CVRs shall not represent any equity or ownership interest in the Parent (or in any constituent company to the Merger) or in any
Parent Legacy Assets or other asset. It is hereby acknowledged and agreed that the CVRs shall not represent a security of the
Parent. The rights or remedies of the holders of CVRs are contractual rights limited to those expressly set forth in this Agreement,
and such Holders’ sole right to receive property is the right to receive cash from the Parent in accordance with the terms
hereof.

 

(c)          The
CVR Holders’ Representative is the exclusive representative, agent and attorney-in-fact of each Holder and all Holders to
represent the rights of the Holders under this Agreement. No Holder may challenge or contest any action, inaction, determination
or decision of the CVR Holders’ Representative or the authority or power of the CVR Holders’ Representative and will
not threaten, bring, commence, institute, maintain, prosecute or voluntarily aid any action, which challenges the validity of
or seeks to enjoin the operation of any provision of this Agreement, including the provisions relating to the authority of the
CVR Holders’ Representative to act on behalf of such Holder and all Holders as set forth in this Agreement.

 

(d)          It
is hereby acknowledged and agreed that the CVRs and the possibility of any payment hereunder with respect thereto are highly speculative
and subject to numerous factors outside of the Parent’s control, and there is no assurance that Holders will receive any
payments under this Agreement or in connection with the CVRs. It is also hereby acknowledged and agreed that it is highly possible
that no Legacy Monetization will occur prior to the expiration of the CVR Term and that there will not be any Gross Proceeds that
may be the subject of a CVR Payment Amount. 

 

Section
2.7.         Discretion and Decision-Making Authority; No Fiduciary Duty.

 

(a)          Until
the expiration of the CVR Term, the CVR Holders’ Representative and the Parent shall cooperate to use commercially reasonable
efforts to pursue Legacy Monetizations, and the CVR Holders’ Representative shall have the final discretion and decision
making authority, not to be unreasonably withheld, over the final terms of each Legacy Monetization, including the particular
manner, and upon what terms and conditions each Legacy Monetization is consummated; provided, that, any such Legacy Monetization
shall require the Parent to execute the Disposition Agreement (so long as such Disposition Agreement does not include unreasonable
burdens or obligations on the Parent). In furtherance of the foregoing:

 

(i)           the
Parent shall not, before the expiration of the CVR Term, sell, transfer, dispose, spin-off, or license any Parent Legacy Assets
or use Legacy Cash, except pursuant to a Legacy Monetization agreed to by the CVR Holders’ Representative or in the ordinary
course of business of the Parent Legacy Assets consistent with past practice;

 

(ii)          the
Parent shall not before the expiration of the CVR Term terminate or intentionally materially negatively impact the Parent Legacy
Assets, including by failing to preserve and maintain the Parent Legacy Assets, without the prior written approval of the CVR
Holders’ Representative, which consent shall not be unreasonably withheld, conditioned or delayed; and

 

(iii)         the
Parent shall pay $[●] to the CVR Holders’ Representative at the Effective Time as compensation for services rendered
by the CVR Holders’ Representative pursuant to this Agreement.

 

(b)          The
CVR Holders’ Representative, after good faith discussions with Parent, shall be entitled to be reimbursed from the CVR Escrow
for direct costs and expenses related to any Legacy Monetization.

 

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(c)          It
is acknowledged and agreed that neither the Parent nor its Affiliates owe, by virtue of their obligations under this Agreement,
a fiduciary duty or any implied duties to the Holders and the parties hereto, and the Parent and its Affiliates intend solely
the express provisions of this Agreement to govern their contractual relationship with respect to the CVRs. It is acknowledged
and agreed that this Section 2.7(c) is an essential and material term of this Agreement. Except as expressly set
forth herein, none of the Parent or any of its Subsidiaries shall have any obligation or liability whatsoever to any Holder relating
to or in connection with any action, or failure to act, with respect to the sale of the Parent Legacy Assets. Following the CVR
Term, the Parent shall be permitted to take any action in respect of the Parent Legacy Assets in order to satisfy any wind-down
Liabilities associated with the Parent Legacy Assets.

 

Section
2.8.         Audit Right and Information Rights.

 

(a)          Prior
to the termination of this Agreement, upon not less than 45 calendar days’ prior written request by the CVR Holders’
Representative, the Parent shall meet at reasonable times during normal business hours with the CVR Holders’ Representative
to discuss the content of any CVR Payment Statement. Such meeting shall not be requested more frequently than twice each calendar
year. The Parent agrees to maintain, for at least one year after the last possible Legacy Monetization, all books and records
relevant to the calculation of a CVR Payment Amount and the amount of Net Proceeds. Prior to the termination of this Agreement
(but not requested more frequently than once per calendar year), subject to not less than 45 calendar days advance written notice
from the CVR Holders’ Representative and prior execution and delivery by it and an independent accounting firm of national
reputation chosen by the CVR Holders’ Representative (the “Accountant”) of a reasonable and customary
confidentiality/nonuse agreement, the Parent shall permit the CVR Holders’ Representative and the Accountant, acting as
agent of the CVR Holders’ Representative, at the CVR Holders’ Representative’s cost, to have access during normal
business hours to the books and records of the Parent as may be reasonably necessary to (and for the sole purpose) audit the calculation
of such CVR Payment Amount or the calculation of the amount of Net Proceeds.

 

(b)          Commencing
at the Effective Time and ending on the Final CVR Payment date, the CVR Holders’ Representative will have reasonable access
to the schedule of deposits and releases regarding the CVR Escrow.

 

Section
2.9.        Termination. This Agreement will expire and be of no force or effect, the parties hereto
will have no liability hereunder (other than with respect to monies due and owing by the Parent to the CVR Holders’ Representative,
if applicable, and the Rights Agent or any other rights of the Rights Agent which expressly survive the termination of this Agreement),
and no additional payments will be required to be made (and the CVRs will expire without
any consideration or compensation therefor), upon the earlier of (a) the payment of the full amount of all CVR Payment
Amounts to the Rights Agent and the payment of the full amount of all CVR Payment Amounts to the Holders by the mailing by the
Rights Agent of each applicable CVR Payment Amount to each Holder at the address reflected in the CVR Register and (b) the expiration
of the CVR Term; provided that this Agreement shall remain in effect and not limit the right
of Holders to receive the CVR Payment Amounts to the extent earned prior to the expiration of this Agreement or held in the CVR
Escrow or Reserve Fund, and the provisions applicable thereto will survive the expiration of this Agreement until such CVR Payments
have been made, if applicable.

 

Section
2.10.      Ability to Abandon CVR. A Holder may at any time, at such Holder’s option, abandon
all of such Holder’s remaining rights in a CVR by transferring such CVR to the Parent with or without consideration therefor.
Nothing in this Agreement is intended to prohibit the Parent from offering to acquire CVRs for consideration in its sole discretion.

 

    9

     

    

 

ARTICLE
III

THE RIGHTS AGENT; THE CVR HOLDERS’ REPRESENTATIVE

 

Section
3.1.        Certain Duties and Responsibilities of the Rights Agent. The Rights Agent shall not
have any liability for any actions taken or not taken in connection with this Agreement, except to the extent of its willful misconduct
or gross negligence (as determined by a final, non-appealable judgment of a court of competent jurisdiction). No provision of
this Agreement shall require the Rights Agent to expend or risk its own funds or otherwise incur any financial liability in the
performance of any of its duties hereunder or in the exercise of any of its rights or powers.

 

Section
3.2.        Certain Rights of Rights Agent. The Rights Agent undertakes to perform such duties and
only such duties as are specifically set forth in this Agreement, and no implied covenants or obligations shall be read into this
Agreement against the Rights Agent. The Rights Agent will report to both the CVR Holders’ Representative and Parent. In
addition:

 

(a)          the
Rights Agent may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order or other paper or document believed by it to be genuine
and to have been signed or presented by the proper party or parties;

 

(b)          the
Rights Agent may engage and consult with counsel of its selection and the written advice of such counsel or any opinion of counsel
shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in
good faith and in reliance thereon;

 

(c)          in
the event of arbitration, the Rights Agent may engage and consult with tax experts, valuation firms and other experts and third
parties that it, in its sole and absolute discretion, deems appropriate or necessary to enable it to discharge its duties hereunder;

 

(d)         the
Rights Agent shall not be required to give any note or surety in respect of the execution of such powers or otherwise in respect
of the premises; and

 

(e)          the
Parent agrees to indemnify the Rights Agent for, and hold the Rights Agent harmless against, any loss, liability, claim, demands,
suits or expense arising out of or in connection with the Rights Agent’s duties under this Agreement, including the costs
and expenses of defending the Rights Agent against any claims, charges, demands, suits or loss, unless such loss shall have been
determined by a court of competent jurisdiction to be a result of the Rights Agent’s willful misconduct or gross negligence
or for the fees of counsel and expenses in connection with any lawsuit initiated by the Rights Agent on behalf of itself or the
Holders.

 

(f)          The
Parent agrees (i) to pay the fees and expenses of the Rights Agent in connection with this Agreement, as set forth on Schedule
1 hereto, and (ii) to reimburse the Rights Agent for all taxes and governmental charges, reasonable expenses and other charges
of any kind and nature incurred by the Rights Agent in the execution of this Agreement (other than taxes measured by the Rights
Agent’s net income). The Rights Agent shall also be entitled to reimbursement from the Parent for all reasonable and necessary
out-of-pocket expenses paid or incurred by it in connection with the administration by the Rights Agent of its duties hereunder.
An invoice for the agreed-upon fee of the Rights Agent as set forth on Schedule 1 will be rendered a reasonable time prior
to, and paid on, the Effective Time. The foregoing shall not apply to the extent an expense
has been determined by a decision of a court of competent jurisdiction to have resulted from the Rights Agent’s gross negligence
or willful misconduct. An invoice for any out-of-pocket expenses and per item fees realized will be rendered and payable
within 30 days after receipt by the Parent.

 

    10

     

    

 

Section
3.3.         Resignation and Appointment of Successor Rights Agent.

 

(a)          The
Rights Agent may resign at any time by giving written notice thereof to the Parent specifying a date when such resignation shall
take effect, which notice shall be sent at least 30 days prior to the date so specified.

 

(b)          If
the Rights Agent resigns or become incapable of acting, the Parent shall promptly appoint a qualified successor Rights Agent who
may be the CVR Holders’ Representative or a Holder but shall not be an officer of the Parent. The successor Rights Agent
so appointed shall, forthwith upon its acceptance of such appointment in accordance with this Section 3.3(b), become the
successor Rights Agent.

 

(c)          The
Parent shall give notice of each resignation and each removal of a Rights Agent and each appointment of a successor Rights Agent
by mailing written notice of such event by first-class mail, postage prepaid, to the CVR Holders’ Representative. The CVR
Holders’ Representative shall forward such notice to the Holders.

 

Section
3.4.         Acceptance of Appointment by Successor Rights Agent. Every successor Rights Agent appointed
hereunder shall execute, acknowledge and deliver to the Parent, the CVR Holders’ Representative and to the retiring Rights
Agent an instrument accepting such appointment and a counterpart of this Agreement, and thereupon such successor Rights Agent,
without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring
Rights Agent; provided, that upon the request of Parent, the CVR Holders’ Representative or the successor Rights Agent,
such retiring Rights Agent shall execute and deliver an instrument transferring to such successor Rights Agent all the rights,
powers and trusts of the retiring Rights Agent.

 

Section
3.5.        Certain Limitations on the Duties and Responsibilities of the CVR Holders’ Representative. The
CVR Holders’ Representative shall not have any liability of any kind to the Holders, or any Person claiming an interest
in any Holder’s entitlement to proceeds from the CVRs, with respect to any action or omission by the CVR Holders’
Representative in connection with or related to the CVR Holders’ Representative’s services pursuant to this Agreement,
except to the extent of his or her willful misconduct or gross negligence (as determined by a final, non-appealable judgment of
a court of competent jurisdiction). No provision of this Agreement shall require the CVR Holders’ Representative Agent to
expend or risk personal funds or otherwise incur any financial liability in the performance of any of duties hereunder or in the
exercise of any of the rights or powers of the CVR Holders’ Representative.

 

Section
3.6.        Certain Rights of the CVR Holders’ Representative. The CVR Holders’ Representative
undertakes to perform such duties and only such duties as are specifically set forth in this Agreement, and no implied covenants
or obligations shall be read into this Agreement against the Rights Agent. In addition:

 

(a)          the
CVR Holders’ Representative may rely and shall be protected in acting or refraining from acting upon any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, order or other paper or document believed by it to
be genuine and to have been signed or presented by the proper party or parties;

 

(b)          the
CVR Holders’ Representative may engage and consult with counsel of its selection and the written advice of such counsel
or any opinion of counsel shall be full and complete authorization and protection in respect of any action taken, suffered or
omitted by it hereunder in good faith and in reliance thereon;

 

(c)          in
the event of arbitration, the CVR Holders’ Representative may engage and consult with tax experts, valuation firms and other
experts and third parties that it, in its sole and absolute discretion, deems appropriate or necessary to enable it to discharge
its duties hereunder;

 

    11

     

    

 

(d)          the
CVR Holders’ Representative shall be entitled to receive indemnification exclusively from Legacy Monetizations for any loss,
liability, claim, demands, suits or expense arising out of or in connection with duties under this Agreement, including the costs
and expenses of defense against any claims, charges, demands, suits or loss, unless such loss shall have been determined by a
court of competent jurisdiction to be a result of the CVR Holders’ Representative willful misconduct or gross negligence.

 

ARTICLE
IV

COVENANTS

 

Section
4.1.        List of Holders. The Parent shall cause its Registrar and Transfer Agent to furnish
to the Rights Agent the names, addresses and shareholdings of the Holders immediately prior to the Effective Time. The Parent
shall cause the CVR Registrar to promptly provide a copy of the CVR Register to the CVR Holders’ Representative upon reasonable
request.

 

Section
4.2.        Provision of CVR Payment Amounts. The Parent shall promptly provide, but in no event
later than each CVR Payment Date, to the Rights Agent with the applicable cash payable in respect of the applicable CVR Payment
Amount, if any, to be distributed to the Holders in accordance with the terms of this Agreement.

 

Section
4.3.        Assignments. The Parent shall not, in whole or in part, assign any of its obligations
under this Agreement other than in accordance with the terms of Section 6.1 or Section 7.2 hereof. At any time,
the CVR Holders’ Representative may assign any of its rights or obligations under this Agreement (or this Agreement in its
entirety) to any third party (reasonably acceptable to the Parent) to serve as a successor CVR Holders’ Representative,
provided that such assignee executes a written joinder to this Agreement assuming the rights and duties of the CVR Holders’
Representative. 

 

Section
4.4.         Records. The Parent shall, and shall cause its Affiliates to, keep true, complete and
accurate records in sufficient detail to enable the Holders and their consultants or professional advisors to confirm (a) whether
any payments related to any Legacy Monetization giving rise to any CVR Payment Amounts have been received by Parent or its successors
or Affiliates and (b) the applicable CVR Payment Amount payable to each Holder hereunder in accordance with the terms specified
in this Agreement.

 

Section
4.5.        No Encumbrances. Until the expiration of the CVR Term and the payment of the CVR Final
Payment, the Parent shall not, and not permit any Subsidiary of Parent to, create or permit to exist any Encumbrance on any of
the Parent Legacy Assets, including any Legacy Cash and equity of any Subsidiary of Parent that was a Subsidiary of Parent prior
to the Effective Time.

 

ARTICLE
V

AMENDMENTS

 

Section
5.1.         Amendments without Consent of Holders. Without the consent of any Holders or of the
CVR Holders’ Representative (except as to items described in (b), (d), (g) and (h) below, which shall require the prior
written consent of the CVR Holders’ Representative), the Parent, at any time and from time to time after the Effective Time,
may unilaterally execute and implement one or more amendments hereto, provided, that notwithstanding anything in this Agreement
to the contrary, the Rights Agent may, but shall not be obligated to, enter into any supplement or amendment that materially and
adversely affects the Rights Agent’s own rights, duties, obligations or immunities under this Agreement:

 

(a)          to
evidence the succession of another Person to the Parent and the assumption by any such successor of the covenants of the Parent
herein, in a transaction contemplated by Section 6.1 hereof;

 

    12

     

    

 

(b)          to
evidence the appointment of another Person as a successor Rights Agent and the assumption by any successor Rights Agent of the
covenants and obligations of the Rights Agent herein in accordance with the provisions hereof;

 

(c)          to
add to the covenants of the Parent such further covenants, restrictions, conditions or provisions as the Parent and the Rights
Agent consider to be for the protection and benefit of the Holders; provided that in each case, such provisions do not adversely
affect the interests of the Holders;

 

(d)          to
cure any ambiguity, to correct or supplement any provision in this Agreement that may be defective or inconsistent with any other
provision in this Agreement, or to make any other provisions with respect to matters or questions arising under this Agreement;
provided that, in each case, such provisions do not adversely affect the interests of the Holders;

 

(e)          as
may be necessary or appropriate to ensure that the CVRs are not subject to registration under the Securities Act or the Exchange
Act and the rules and regulations promulgated thereunder, or any applicable foreign or state securities or “blue sky”
laws; provided that, in each case, such amendment does not adversely affect the interests of the Holders;

 

(f)          as
may be necessary or appropriate to ensure that the Parent is not required to produce a prospectus or an admission document in
order to comply with applicable Law;

 

(g)          to
cancel the applicable CVRs (i) in the event that any Holder has abandoned its rights in accordance with this Agreement or (ii)
following a transfer of such CVRs to the Parent or its Affiliates in accordance with this Agreement;

 

(h)          to
effect any other amendment to this Agreement for the purpose of adding, eliminating or changing any provisions of this Agreement;
provided that, in each case, such amendment does not adversely affect the interests of the Holders; or

 

(i)           as
may be necessary or appropriate to ensure that the Parent complies with applicable Law.

 

Promptly
after the execution by the Parent of any amendment pursuant to the provisions of this Section 5.1, the Parent shall provide
a copy of such amendment to the CVR Holders’ Representative.

 

Section
5.2.         Amendments with Consent of Holders. Subject to Section 5.1 (which amendments
pursuant to Section 5.1 may be made without the consent of the Holders or of the CVR Holders’ Representative), with
the consent of not less than a majority of the outstanding CVRs, whether evidenced in writing or taken at a meeting of the Holders,
the CVR Holders’ Representative, the Parent and the CVR Holders’ Representative may enter into one or more amendments
hereto for the purpose of adding, eliminating or changing any provisions of this Agreement, even if such addition, elimination
or change is in any way adverse to the interests of the Holders. The Parent and the Rights Agent agree to fully cooperate with
the CVR Holders’ Representative in soliciting and obtaining the consent of the Holders as required by this Section. Promptly
after the execution by the Parent, the CVR Holders’ Representative and the Rights Agent of any amendment pursuant to the
provisions of this Section 5.2, the Parent will mail (or cause the Rights Agent to mail) a notice thereof by first class
mail to the Holders at their addresses as they appear on the CVR Register, setting forth in general terms the substance of such
amendment.

 

Section
5.3.        Effect of Amendments. Upon the execution of any amendment under this Article V,
this Agreement shall be modified in accordance therewith, such amendment shall form a part of this Agreement for all purposes
and every Holder shall be bound thereby.

 

    13

     

    

 

ARTICLE
VI

CONSOLIDATION, MERGER, SALE OR CONVEYANCE

 

Section
6.1.         Parent May Consolidate, Etc. The Parent shall not consolidate with or merge into any
other Person (other than a merger or consolidation where the Parent is the surviving corporation), unless:

 

(a)          the
Person formed by such consolidation or into which the Parent is merged, (the “Surviving Person”) shall expressly
assume payment (if and to the extent required hereunder) of amounts on all the CVRs and the performance of every duty and covenant
of this Agreement on the part of the Parent to be performed or observed; and

 

(b)          the
Parent has delivered to the CVR Holders’ Representative and the Rights Agent an Officer’s Certificate, stating that
such consolidation or merger complies with this Article VI and that all conditions precedent herein provided for relating
to such transaction have been complied with.

 

Section
6.2.         No Allocation to Parent Legacy Assets. No transaction described in Section 6.1
shall give, and the Merger shall not give, the Holders the right to a CVR Payment Amount.

 

Section
6.3.        Successor Substituted. Upon any consolidation of or merger by the Parent with or into
any other Person, the Surviving Person shall succeed to, and be substituted for, and may exercise every right and power of, the
Parent under this Agreement with the same effect as if the Surviving Person had been named as Parent herein.

 

ARTICLE
VII

OTHER PROVISIONS OF GENERAL APPLICATION

 

Section
7.1.         Notices. Any notice, report, request, approval or consent required or permitted to be
given under this Agreement shall be in writing and shall be addressed as follows:

 

(a)          if
to a Holder or any or all Holders or the CVR Holders’ Representative, addressed to the CVR Holders’ Representative
at: [●],

 

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

 

Ballard
Spahr LLP

80
S. 8th Street, Suite 2000

Minneapolis,
MN 55402

	Attn.: 	Barbara Rummel
	 	Peter
        Jaslow

	Telephone: 	(612) 371-3211
	Facsimile:	(612) 371-3207
	Email:	rummelb@ballardspahr.com
	 	jaslowp@ballardspahr.com

   

(b)          if
to the Parent, addressed to it at:

 

Pineapple
Energy Corp.

315 Lake Street East

Wayzata, Minnesota 55391

Attn.: Chief Executive Officer

Telephone:     (952) 456-5300

Email:  Kyle@pineappleenergy.com

 

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

 

Faegre
Drinker Biddle & Reath LLP

2200
Wells Fargo Center

 

    14

     

    

 

90
S. 7th Street

Minneapolis,
MN 55402-3901

	Attn.: 	Steven Kennedy
	 	Jonathan Zimmerman 
	 	Jonathan Nygren
	Telephone: 	(612) 766-7000
	Facsimile: 	(612) 766-1600
	Email: 	Steven.Kennedy@FaegreDrinker.com
	 	Jon.Zimmerman@FaegreDrinker.com 

	 	Jon.Nygren@FaegreDrinker.com

 

(c)           if
to the Rights Agent, addressed to it at:

 

Equiniti
Trust Company

dba
EQ Shareowner Services

1110
Centre Pointe Curve, Suite #101

Mendota
Heights, MN 55120

Attn:
Account Management Team

Telephone:
(800) 689-8788

Email:
EQSS-AccountManagement@equiniti.com

 

or,
in each case, to the most recent address, specified by written notice, given to the sender pursuant to this Section.

 

All
notices and other communications hereunder shall be in writing and shall be deemed to have been duly delivered (i) three Business
Days after being sent by registered or certified mail, return receipt requested, postage prepaid, (ii) one Business Day after
being sent for next Business Day delivery, fees prepaid, via a reputable overnight courier service, (iii) if sent by email transmission
prior to 6:00 p.m. recipient’s local time, upon transmission (provided, no “bounce back” or similar message
of non-delivery is received with respect thereto) or (iv) if sent by email transmission after 6:00 p.m. recipient’s local
time and no “bounce back” or similar message of non-delivery is received with respect thereto, the Business Day following
the date of transmission; provided, that, in each case, the notice or other communication is sent to the physical address or email
address set forth next to the name of such Party above (or to such other physical address or email address as such Party shall
have specified in a written notice given to the other Parties hereto).

 

Section
7.2.        Successors and Assigns. All covenants and agreements in this Agreement by the Parent
shall bind its successors and assigns, whether so expressed or not. The Parent may not assign this Agreement without the prior
written consent of the CVR Holders’ Representative. All covenants and agreements in this Agreement by the CVR Holders’
Representative shall bind his successors, whether so expressed or not. In the event the CVR Holders’ Representative resigns
(without assigning its rights or obligations to a successor CVR Holders’ Representative), dies or is incapacitated, a successor
CVR Holders’ Representative shall be elected by a majority in interest of the Holders.

 

Section
7.3.        Benefits of Agreement. The Parent and the Rights Agent hereby agree that the respective
covenants and agreements set forth herein are intended to be for the benefit of, and shall be enforceable by, the CVR Holders’
Representative (on behalf of itself and the Holders) and the Holders, acting by the written consent of Holders of not less than
a majority of the then-outstanding CVRs, all of whom are intended third-party beneficiaries hereof. Nothing in this Agreement,
express or implied, will give to any Person (other than the Rights Agent, the Parent, the Parent’s successors and permitted
assignees, and the Holders and their respective successors and permitted assignees) any benefit or any legal or equitable right,
remedy or claim under this Agreement or under any covenant or provision herein contained, all such covenants and provisions being
for the sole benefit of the Rights Agent, the Parent, the

 

    15

     

    

 

Parent’s successors and permitted assignees, and the Holders and
their respective successors and permitted assignees. The rights of Holders are limited to those expressly provided in this Agreement
and the Merger Agreement.

 

Section
7.4.        Legal Proceedings; Governing Law. This Agreement and the CVRs shall be governed by and
construed in accordance with the internal laws of the State of Minnesota in connection with any legal proceedings arising hereunder
without giving effect to any choice or conflict of law provision or rule (whether of the State of Minnesota or any other jurisdiction)
that would cause the application of laws of any jurisdictions other than those of the State of Minnesota. Each of the parties
to this Agreement (i) consents to submit itself to the exclusive personal jurisdiction of the state and federal courts located
in Minneapolis, Minnesota (the “Chosen Court”) in any action or proceeding arising out of or relating to this
Agreement or the CVRs, (ii) agrees that all claims in respect of such action or proceeding shall be heard and determined in any
such Chosen Court, (iii) agrees that it shall not attempt to deny or defeat such personal jurisdiction by motion or other request
for leave from any such Chosen Court, and (iv) agrees not to bring any action or proceeding arising out of or relating to this
Agreement or any of the transaction contemplated by this Agreement in any other court. Each of the parties hereto waives any defense
of inconvenient forum to the maintenance of any action or proceeding so brought and waives any bond, surety or other security
that might be required of any other party with respect thereto. Any party may make service on another party by sending or delivering
a copy of the process to the party to be served at the address and in the manner provided for the giving of notices in Section
7.1. Nothing in this Section 7.4, however, shall affect the right of any party to serve legal process in any other
manner permitted by law.

 

Section
7.5.         Legal Holidays. In the event that a CVR Payment Date shall not be a Business Day, then,
notwithstanding any provision of this Agreement to the contrary, any payment required to be made in respect of the CVRs on such
date need not be made on such date, but may be made on the next succeeding Business Day with the same force and effect as if made
on the CVR Payment Date.

 

Section
7.6.        Severability Clause. In case any one or more of the provisions contained in this Agreement
shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability
shall not affect any other provisions of this Agreement, but this Agreement shall be construed as if such invalid or illegal or
unenforceable provision had never been contained herein. Upon such determination that any term or other provision is invalid,
illegal or unenforceable, the arbitration forum or other tribunal making such determination is authorized and instructed to modify
this Agreement so as to effect the original intent of the parties as closely as possible so that the transactions and agreements
contemplated herein are consummated as originally contemplated to the fullest extent possible.

 

Section
7.7.        Entire Agreement. This Agreement represents the entire understanding of the parties
hereto with reference to the CVRs and the subject matter of this Agreement and supersedes any and all other prior or contemporaneous
oral or written agreements made with respect to the CVRs or this Agreement, except for the Merger Agreement. If and to the extent
that any provision of this Agreement is inconsistent with or conflicts with the Merger Agreement, this Agreement shall govern
and be controlling.

 

Section
7.8.         Interpretation. The language used in this Agreement is the language chosen by the parties
to express their mutual intent, and no provision of this Agreement shall be interpreted for or against a party because that party
or its attorney drafted the provision.

 

    16

     

    

 

Section
7.9.        Force Majeure. Notwithstanding anything to the contrary contained herein, none of the
Rights Agent, the Parent or any of its Subsidiaries will be liable for any delays or failures in performance resulting from acts
beyond its reasonable control including acts of God, pandemics (including COVID-19), terrorist acts, shortage of supply, breakdowns
or malfunctions, interruptions or malfunctions of computer facilities, or loss of data due to power failures or mechanical difficulties
with information storage or retrieval systems, labor difficulties, war or civil unrest.

 

Section
7.10.      WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY
AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (II)
EACH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATION OF THIS WAIVER, (III) EACH PARTY MAKES THIS WAIVER VOLUNTARILY, AND
(IV) EACH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN
THIS SECTION 7.10.

 

[Signature
Page Follows]

 

    17

     

    

 

IN
WITNESS WHEREOF, the parties have executed and delivered this Contingent Value Rights Agreement as of the day and year first above
written.

 

	Communications
    Systems, Inc.
	By:	      
	Name:	 
	Title:	 
	 	 
	[●]	 
	By:	     
	Name:	 
	Title:	 
	 	 
	[●]	 
	By:	    
	Name:	 
	Title:	 

 

    

     

    

 

Schedule
1

 

[●]

 

Schedule
2

 

Mark
D. Fandrich

 

Scott
Fluegge

 

Kristin
A. HlavkaEX-10.1

 Exhibit 10.1 

SUBSCRIPTION AGREEMENT 
 Dynamics Special
Purpose Corp. 
 2875 El Camino Real 
 Redwood City, California,
94061 
 This Subscription Agreement (this “Subscription Agreement”) is being entered into in connection with the proposed
business combination (the “Transaction”) between Dynamics Special Purpose Corp., a Delaware corporation (“Dynamics”), and Senti Biosciences, Inc., a Delaware corporation (the “Company”), pursuant to
a business combination agreement to be entered into immediately following the execution of this Subscription Agreement and as of the date hereof among Dynamics, the Company, Merger Sub and the other parties thereto (the “Transaction
Agreement”) pursuant to which, among other things, Merger Sub will merge with and into the Company, with the Company as the surviving company in the Merger as a wholly-owned subsidiary of Dynamics. Capitalized terms used but not defined in
this Subscription Agreement have the meaning given to them in the Transaction Agreement. 
 In connection with the Transaction, Dynamics is
seeking commitments from interested investors to purchase shares of Dynamics Class A common stock, par value $0.0001 per share (the “Shares”), in a private placement for a purchase price of $10.00 per share (the “Per
Share Purchase Price”). The aggregate purchase price to be paid by the undersigned (the “Investor”) for the Shares for which it is subscribing (as set forth on the signature page hereto) (the “Subscribed
Shares”) is referred to herein as the “Subscription Amount.” On or about the date of this Subscription Agreement, Dynamics is entering into subscription agreements (the “Other Subscription Agreements” and,
together with this Subscription Agreement, the “Subscription Agreements”) with certain other investors (the “Other Investors” and, together with the Investor, the “Investors”), severally and not
jointly, pursuant to which the Investors, severally and not jointly, have agreed to purchase on the closing date of the Transaction, inclusive of the Subscribed Shares, an aggregate amount of up to 6,680,000 Shares at the Per Share Purchase Price.

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

1. Subscription. The Investor hereby subscribes for and agrees to purchase, and Dynamics hereby agrees to issue and sell to the
Investor, the Subscribed Shares on the terms and subject to the conditions provided for herein. In the event of the termination of this Subscription Agreement in accordance with the terms hereof, the Investor’s payment hereunder will be
returned promptly to the Investor as set forth in Section 10 and this Subscription Agreement shall have no further force or effect. 

 2. Closing. The closing of the purchase and sale of the Subscribed Shares
contemplated hereby (the “Closing”) is contingent upon the substantially concurrent consummation of the Transaction. The Closing shall occur on the date of, and substantially concurrently with and conditioned upon the effectiveness
of, the Transaction and substantially concurrently with the Merger (as defined in the Transaction Agreement). At least five (5) Business Days before the anticipated closing date of the transactions contemplated by the Transaction Agreement (the
“Closing Date”), Dynamics shall deliver or cause to be delivered to the Investor a written notice (the “Closing Notice”) specifying (i) the anticipated Closing Date, (ii) that Dynamics reasonably expects
all conditions to the closing of the Transaction to be satisfied or waived (in writing by the person who has the authority to make such waiver) on the anticipated Closing Date, and (iii) wire instructions for delivery of the Subscription
Amount. The Investor shall deliver to Dynamics, two (2) Business Days prior to the Closing Date specified in the Closing Notice, the Subscription Amount by wire transfer of United States dollars in immediately available funds to the account(s)
specified by Dynamics in the Closing Notice, such funds to be held by Dynamics in escrow until the Closing. On the Closing Date, Dynamics shall issue the Subscribed Shares to the Investor in book entry form in the name of the Investor (or its
nominee or custodian in accordance with its delivery instructions) on Dynamics’ share register, free and clear of any liens or other restrictions (other than those arising under this Subscription Agreement or applicable securities laws);
provided, however, that Dynamics’ obligation to issue the Subscribed Shares to the Investor is contingent upon Dynamics having received the Subscription Amount in full in accordance with this Section 2 of this Subscription
Agreement. Without limiting the rights of Dynamics to issue a further Closing Notice or the obligations of the Investor to subscribe for the Subscribed Shares hereunder and to deliver the Subscription Amount pursuant to the terms hereof and of such
further Closing Notice, if the consummation of the Transaction does not occur within three (3) Business Days after the anticipated Closing Date specified in the Closing Notice, unless otherwise agreed to in writing by Dynamics and the Investor,
Dynamics shall promptly (but in no event later than four (4) Business Days after the anticipated Closing Date specified in the Closing Notice) return the funds so delivered by the Investor to Dynamics by wire transfer of United States dollars
in immediately available funds to the account specified by the Investor, and any book entries shall be deemed cancelled. As promptly as practicable after the Closing, upon request of the Investor, Dynamics shall provide the Investor with updated
book-entry statements, if required, from Dynamics’ transfer agent reflecting the change in name of Dynamics to occur in connection with the Closing. For the purposes of this Subscription Agreement, “Business Day” shall mean any
day, other than a Saturday or Sunday, on which commercial banks in New York, New York are open for the general transaction of business; provided, that banks shall be deemed to be open for the general transaction of business in the event of a
“shelter in place” order or similar closure of physical branch locations at the direction of any Governmental Entity if such banks’ electronic funds transfer system (including for wire transfers) are open for use by customers on such
day. 
 3. Closing Conditions. 

(a) The obligation of the parties hereto to consummate the purchase and sale of the Subscribed Shares pursuant to this
Subscription Agreement is subject to the satisfaction or waiver in writing by each party of the following conditions: 

  
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 (i) no applicable court or governmental authority shall have enacted,
issued, promulgated, enforced or entered any judgment, order, law, rule or regulation (whether temporary, preliminary or permanent) which is then in effect and has the effect of making consummation of the transactions contemplated hereby illegal or
otherwise restraining or prohibiting consummation of the transactions contemplated hereby; 
 (ii) Dynamics’ initial
listing application with Nasdaq in connection with the transactions contemplated by the Transaction Agreement shall have been approved and, immediately following the Effective Time, Dynamics shall be able to satisfy any applicable initial and
continuing listing requirements of Nasdaq, and Dynamics shall not have received any notice of non-compliance therewith that has not been cured or would not be cured at or immediately following the Effective
Time, and the Subscribed Shares shall have been approved for listing on Nasdaq, subject only to official notice of issuance thereof; and 

(iii) all conditions precedent to the closing of the Transaction under the Transaction Agreement, including all necessary
approvals of Dynamics’ shareholders and regulatory approvals, if any, as set forth in Article 6 thereof, shall have been satisfied (as determined by the parties to the Transaction Agreement and other than those conditions under the Transaction
Agreement which, by their nature, are to be satisfied at the closing of the Transaction, including to the extent that any such condition is dependent upon the consummation of the purchase and sale of the Subscribed Shares pursuant to this
Subscription Agreement) or waived (in writing by the person who has the authority to make such waiver). 
 (b) The obligation
of Dynamics to consummate the issuance and sale of the Subscribed Shares pursuant to this Subscription Agreement shall be subject to the satisfaction or waiver in writing by Dynamics of the following conditions: (i) all representations and
warranties of the Investor contained in this Subscription Agreement are true and correct in all material respects (other than representations and warranties that are qualified as to materiality, which representations and warranties shall be true in
all respects) at and as of the Closing Date (other than those representations and warranties expressly made as of an earlier date, which shall be true and correct in all material respects (other than representations and warranties that are qualified
as to materiality, which representations and warranties shall be true in all respects) as of such date), and consummation of the Closing shall constitute a reaffirmation by the Investor of each of the representations, warranties, covenants and
agreements of the Investor contained in this Subscription Agreement as of the Closing Date; and (ii) the Investor shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by
this Subscription Agreement to be performed, satisfied or complied with by it at or prior to the Closing, except where the failure of such performance, satisfaction or compliance would not, or would not reasonably be expected to, prevent, materially
delay or materially impair the ability of Dynamics to consummate the Closing. 

  
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 (c) The obligation of the Investor to consummate the purchase of the
Subscribed Shares pursuant to this Subscription Agreement shall be subject to the satisfaction or waiver in writing by the Investor of the following conditions: (i) all representations and warranties of Dynamics contained in this Subscription
Agreement shall be true and correct in all material respects (other than representations and warranties that are qualified as to materiality or Material Adverse Effect (as defined herein), which representations and warranties shall be true in all
respects) at and as of the Closing Date (other than those representations and warranties expressly made as of an earlier date, which shall be true and correct in all material respects (other than representations and warranties that are qualified as
to materiality or Material Adverse Effect (as defined herein), which representations and warranties shall be true in all respects) as of such date), and consummation of the Closing shall constitute a reaffirmation by Dynamics of each of the
representations and warranties of Dynamics contained in this Subscription Agreement which are expressed to be given as of the Closing Date; (ii) Dynamics shall have performed, satisfied and complied in all material respects with all covenants,
agreements and conditions required by this Subscription Agreement to be performed, satisfied or complied with by it at or prior to the Closing; and (iii) no amendment, modification or waiver of the Transaction Agreement (as in effect on the
date hereof) shall have occurred that would reasonably be expected to materially and adversely affect the economic benefits that the Investor would reasonably expect to receive under this Subscription Agreement without having received
Investor’s prior written consent. 
 4. Further Assurances. At the Closing, the parties hereto shall execute and deliver such
additional documents and take such additional actions as the parties may reasonably deem to be practical and necessary in order to consummate the subscription contemplated by this Subscription Agreement. In furtherance of the foregoing, the Investor
shall deliver to Dynamics any information that is reasonably requested in the Closing Notice in order for Dynamics to issue the Subscribed Shares, including, without limitation, the legal name of the Investor in whose name such Subscribed Shares are
to be issued and a duly executed Internal Revenue Service Form W-9 or W-8, as applicable. 

5. Dynamics Representations and Warranties. Dynamics represents and warrants to the Investor, as of the date hereof and as of the
Closing Date (unless any representation or warranty is expressed to be given as at another date or dates, in which case, Dynamics makes that representation and gives that warranty as of that date or those dates), that: 

(a) Dynamics 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 Subscription Agreement. 

  
 4 

 (b) As of the Closing Date, the Subscribed Shares will be duly authorized
and, when issued and delivered to the Investor against full payment therefor in accordance with the terms of this Subscription Agreement, the Subscribed Shares will be validly issued, fully paid and
non-assessable, free and clear of all liens or other encumbrances (other than those arising under applicable securities laws) and will not have been issued in violation of or subject to any preemptive or
similar rights created under Dynamics’ certificate of incorporation or bylaws (each as amended to the Closing Date), under the General Corporation Law of the State of Delaware, or by any contract to which Dynamics is a party or by which it is
bound. 
 (c) This Subscription Agreement has been duly authorized, executed and delivered by Dynamics and, assuming that
this Subscription Agreement constitutes the valid and binding agreement of the Investor, this Subscription Agreement constitutes a legal, valid and binding obligation of Dynamics, enforceable against Dynamics 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 and delivery of this Subscription Agreement by Dynamics, the issuance and
sale of the Subscribed Shares, the compliance by Dynamics with all of the provisions of this Subscription Agreement and the consummation of the transactions contemplated herein will not (i) conflict with or result in a breach or violation of
any of the terms or provisions of, or constitute a default under, or result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of Dynamics or any of its subsidiaries pursuant to the terms of any
indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement or instrument to which Dynamics or any of its subsidiaries is a party or by which Dynamics or any of its subsidiaries is bound, or to which any of the property or
assets of Dynamics is subject, that would reasonably be expected, individually or in the aggregate, to have a material adverse effect on the business, financial condition or results of operations of Dynamics and its subsidiaries, taken as a whole,
or materially and adversely affect (A) the ability of Dynamics to consummate the Transaction, (B) the validity of the Subscribed Shares, or (C) the legal authority of Dynamics to comply in all material respects with the terms of this
Subscription Agreement (each, a “Material Adverse Effect”), (ii) result in any violation of the provisions of the organizational documents of Dynamics, 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 Dynamics or any of its properties that would reasonably be expected to have a Material Adverse Effect. 

  
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 (e) Dynamics 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 Nasdaq) or other person in connection with the execution,
delivery and performance of this Subscription Agreement (including, without limitation, the issuance of the Subscribed Shares), other than (i) notice filings required by applicable state securities laws, (ii) the filing of the Registration
Statement (as defined below) pursuant to Section 7 of this Subscription Agreement, (iii) those required by Nasdaq, including with respect to obtaining stockholder approval, (iv) those required to consummate the Transaction as provided
under the Transaction Agreement, (v) the filing of notification under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, if applicable, and (vi) those, the failure of which to obtain, would not have, and would not be reasonably
expected to have, a Material Adverse Effect. Assuming the accuracy of the Investor’s representations and warranties set forth in Section 6 of this Subscription Agreement, no registration under the Securities Act or any state securities (or
‘blue sky’) laws is required for the offer and sale of the Subscribed Shares by Dynamics to the Investor. 
 (f) As
of their respective dates, and except as set forth in Section 5(f) of Schedule B to this Subscription Agreement, all reports (the “SEC Reports”) required to be filed by Dynamics with the SEC complied in all material respects
with the applicable requirements of the Securities Act and the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations of the SEC promulgated thereunder, and none of the SEC Reports, when
filed, contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not
misleading; except, in each case, as set forth in any subsequent SEC Report filed or furnished with the SEC on or prior to the date hereof. Except as set forth in Section 5(f) of Schedule B to this Subscription Agreement, the financial
statements of Dynamics included in the SEC Reports complied in all material respects with applicable accounting requirements and the rules and regulations of the SEC with respect thereto as in effect at the time of filing and fairly present in all
material respects the financial condition of Dynamics as of and for the dates thereof and the results of operations and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal,
year-end audit adjustments, and such financial statements have been prepared in conformity with GAAP applied on a consistent basis during the periods involved (except as may be disclosed therein or in the
notes thereto, and except that the unaudited financial statements may not contain all footnotes required by GAAP); except, in each case, as set forth in any subsequent SEC Report filed or furnished with the SEC on or prior to the date hereof.
A copy of each SEC Report is available to the Investor via the SEC’s EDGAR system. Dynamics has timely filed each report, statement, schedule, prospectus, and registration statement that it was required to file with the SEC since its initial
registration of the Shares with the SEC. There are no outstanding or unresolved comments in comment letters received by Dynamics from the staff of the Division of Corporation Finance of the SEC with respect to any of the SEC Reports. 

  
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 (g) Except for such matters that have not had and would not reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect, there is no (i) action, suit, claim, arbitration or other proceeding, in each case by or before any governmental authority or arbitrator, pending or, to the
knowledge of Dynamics, threatened against Dynamics, or (ii) judgment, decree, injunction, ruling or order of any governmental entity or arbitrator outstanding against Dynamics. 

(h) As of the date hereof, the authorized capital stock of Dynamics consists of (i) 100,000,000 Shares, (ii) 10,000,000 shares
of Class B common stock par value $0.0001 per share (“Class B Shares”), and (iii) 1,000,000 shares of preferred stock par value $0.0001 per share (“Preferred Shares”). As of the date hereof,
(A) 23,715,500 Shares are issued and outstanding, (B) 5,750,000 Class B Shares are issued and outstanding, and (C) no Preferred Shares are issued and outstanding. All issued and outstanding Shares and Class B Shares have been duly
authorized and validly issued, are fully paid and are non-assessable. Except as set forth above and pursuant to the Other Subscription Agreements, the Transaction Agreement and the other agreements and
arrangements referred to therein or in the SEC Reports, there are no outstanding options, warrants or other rights to subscribe for, purchase or acquire from Dynamics any Shares, Class B Shares, Preferred Shares or other equity interests in
Dynamics, or securities convertible into or exchangeable or exercisable for such equity interests. There are no securities or instruments issued by or to which Dynamics is a party containing anti-dilution or similar provisions that will be triggered
by the issuance of (i) the Subscribed Shares pursuant to this Subscription Agreement, or (ii) the Shares to be issued pursuant to any Other Subscription Agreement. Dynamics has no subsidiaries, other than Merger Sub, and does not own,
directly or indirectly, interests or investments (whether equity or debt) in any person, whether incorporated or unincorporated. There are no shareholder agreements, voting trusts or other agreements or understandings to which Dynamics is a party or
by which it is bound relating to the voting of any securities of Dynamics, other than (1) as set forth in the SEC Reports, and (2) as contemplated by the Transaction Agreement. 

(i) The issued and outstanding Shares are registered pursuant to Section 12(b) of the Exchange Act and are listed for
trading on Nasdaq under the symbol “DYNS” (it being understood that the trading symbol will be changed in connection with the Transaction). There is no suit, action, proceeding or investigation pending or, to the knowledge of Dynamics,
threatened against Dynamics by Nasdaq or the SEC, respectively, to prohibit or terminate the listing of the Shares on Nasdaq or to deregister the Shares under the Exchange Act. Dynamics has taken no action that is designed to terminate the
registration of the Shares under the Exchange Act. 

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

(k) Neither Dynamics nor any person acting on its behalf has engaged or will engage in any form of general solicitation or
general advertising in connection with any offer or sale of the Subscribed Shares. The Subscribed Shares 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. Neither Dynamics nor any person acting on Dynamics’ behalf has, directly or indirectly, at any time within the past six (6) months, made any offer or sale of any security or solicitation of any offer to buy any security
under circumstances that would cause the offering of the Subscribed Shares pursuant to this Subscription Agreement to be integrated with prior offerings by Dynamics for purposes of the Securities Act or any applicable stockholder approval
provisions. Neither Dynamics nor any person acting on Dynamics’ behalf has offered or sold or will offer or sell any securities, or has taken or will take any other action, which would reasonably be expected to subject the offer, issuance or
sale of the Subscribed Shares, as contemplated hereby, to the registration provisions of the Securities Act. 
 (l) Dynamics
is not under any obligation to pay any broker’s fee or commission in connection with the sale of the Subscribed Shares hereunder, other than to the Placement Agents (as defined herein). 

(m) The Shares are eligible for clearing through The Depository Trust Company (the “DTC”), through its
Deposit/Withdrawal At Custodian (DWAC) system, and Dynamics is eligible and participating in the Direct Registration System (DRS) of DTC with respect to the Shares. Dynamics’ transfer agent is a participant in DTC’s Fast Automated
Securities Transfer Program. The Shares are not, and have not been at any time, subject to any DTC “chill,” “freeze” or similar restriction with respect to any DTC services, including the clearing of Shares through DTC. 

(n) Upon consummation of the Transaction, the issued and outstanding Shares will continue to be registered pursuant to
Section 12(b) of the Exchange Act and will be listed for trading on Nasdaq. 
 (o) Dynamics is not, and immediately
after receipt of payment for the Subscribed Shares and consummation of the Transaction, will not be, an “investment company” within the meaning of the Investment Company Act of 1940, as amended. 

  
 8 

 (p) (i) There has been no action taken by Dynamics or, to the knowledge
of Dynamics, any officer, director, equityholder, manager, employee, agent or representative of Dynamics, in each case, acting on behalf of Dynamics, in violation of any Anti-Corruption Laws (as herein defined), (ii) Dynamics has not been convicted
of violating any Anti-Corruption Laws or subjected to any investigation by a governmental authority for violation of any Anti-Corruption Laws, (iii) Dynamics has not conducted or initiated any internal investigation or made a voluntary,
directed or involuntary disclosure to any governmental authority regarding any alleged act or omission arising under or relating to any noncompliance with any Anti-Corruption Laws, and (iv) Dynamics has not received any written notice or
citation from a governmental authority for any actual or potential noncompliance with any Anti-Corruption Laws. As used herein, “Anti-Corruption Laws” means any applicable laws relating to corruption and bribery, including the U.S.
Foreign Corrupt Practices Act of 1977 (as amended), the UK Bribery Act 2010, and any similar law that prohibits bribery or corruption. 

(q) Other than the Other Subscription Agreements, the Transaction Agreement and any other agreement contemplated by the
Transaction Agreement, Dynamics has not entered into any side letter or similar agreement with any Other Investor or other investor in connection with such Other Investor’s or other investor’s direct or indirect investment in Dynamics. No
Other Subscription Agreement includes terms and conditions that are more favorable to the Other Investor thereunder than the Investor hereunder, other than terms particular to the regulatory requirements of such Other Investor or its affiliates or
related funds that are mutual funds. 
 (r) Neither Dynamics nor the Company, nor any of their respective subsidiaries,
affiliates, directors, officers, employees, or, to their knowledge, any of their agents or representatives acting on their behalf in connection with this Subscription Agreement, is an individual or entity (“Person”) that is, or is owned or
controlled by one or more Persons that are: (i) the subject of any sanctions administered or enforced by the United States Government, including OFAC and the US Department of State (collectively, “Sanctions”); or (ii) located,
organized or resident in a country or territory that is, or whose government is, the subject of comprehensive territorial Sanctions (including, without limitation, Crimea, Cuba, Iran, North Korea and Syria). 

6. Investor Representations and Warranties. The Investor represents and warrants to Dynamics that: 

(a) The Investor (i) is a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act) or
an institutional “accredited investor” (within the meaning of Rule 501(a) under the Securities Act), in each case, satisfying the applicable requirements set forth on Schedule A, (ii) is an “institutional account” (as
defined in FINRA Rule 4512(c)), (iii) is acquiring the Subscribed Shares only for its own account and not for the account of others, or if the Investor is subscribing for the Subscribed Shares as a fiduciary or agent for

  
 9 

 
one or more investor accounts, the Investor has full investment discretion with respect to each such account, and the full power and authority to make the acknowledgements, representations and
agreements herein on behalf of each owner of each such account, and (iv) is not acquiring the Subscribed Shares with a view to, or for offer or sale in connection with, any distribution thereof in violation of the Securities Act (and shall
provide the requested information set forth on Schedule A). The Investor is not an entity formed for the specific purpose of acquiring the Subscribed Shares, unless the newly formed entity is an entity in which all of the investors are institutional
accredited investors, and is an “institutional account” as defined in FINRA Rule 4512(c). 
 (b) To the extent
applicable, the Investor has been duly formed or incorporated, and is validly existing in good standing (to the extent the concept of good standing is applicable in such jurisdiction) under the laws of its jurisdiction of incorporation or formation
and has all power (corporate or otherwise) and authority to own, lease and operate its properties and conduct its business as presently conducted and to enter into, deliver and perform its obligations under this Subscription Agreement. 

(c) The Investor acknowledges and agrees that the Subscribed Shares are being offered in a transaction not involving any public
offering within the meaning of the Securities Act and that the Subscribed Shares have not been registered under the Securities Act. The Investor acknowledges and agrees that the Subscribed Shares may not be offered, resold, transferred, pledged or
otherwise disposed of by the Investor absent an effective registration statement under the Securities Act, except (i) to Dynamics 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 clauses
(i) and (iii), in accordance with any applicable securities laws of the states and other jurisdictions of the United States, and that any certificates representing the Subscribed Shares shall contain a restrictive legend to such effect
(provided, that such legend shall be subject to removal in accordance with Section 7(e)). The Investor acknowledges and agrees that the Subscribed Shares will be subject to transfer restrictions and, as a result of these transfer restrictions,
the Investor may not be able to readily offer, resell, transfer, pledge or otherwise dispose of the Subscribed Shares and may be required to bear the financial risk of an investment in the Subscribed Shares for an indefinite period of time. The
Investor acknowledges and agrees that the Subscribed Shares will not be eligible for offer, resale, transfer, pledge or disposition pursuant to Rule 144 promulgated under the Securities Act until at least one year from the date that Dynamics files a
Current Report on Form 8-K following the Closing Date that includes the “Form 10” information required under applicable SEC rules and regulations. The Investor acknowledges and agrees that it has
been advised to consult legal counsel prior to making any offer, resale, transfer, pledge or disposition of any of the Subscribed Shares. Nothing contained herein shall be deemed a representation or warranty by such Investor to hold the Subscribed
Shares for any period of time. 

  
 10 

 (d) The Investor acknowledges and agrees that the Investor is purchasing the
Subscribed Shares from Dynamics. The Investor further acknowledges that there have been no representations, warranties, covenants or agreements made to the Investor by or on behalf of Dynamics, the Company, any of their respective affiliates or any
control persons, officers, directors, employees, partners, agents or representatives of any of the foregoing, or any other person or entity, expressly or by implication, other than those representations, warranties, covenants and agreements of
Dynamics expressly set forth in Section 5 of this Subscription Agreement. 
 (e) The Investor’s acquisition and
holding of the Subscribed 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, or any applicable similar law. 
 (f) The Investor
acknowledges and agrees that the Investor has received such information as the Investor deems necessary in order to make an investment decision with respect to the Subscribed Shares, including with respect to Dynamics, the Transaction and the
business of the Company. Without limiting the generality of the foregoing, the Investor acknowledges that he, she or it has had the opportunity to review the SEC Reports. The Investor acknowledges and agrees that the Investor and the Investor’s
professional advisor(s), if any, have had the opportunity to ask such questions, receive such answers and obtain such information as the Investor and such Investor’s professional advisor(s), if any, have deemed necessary to make an investment
decision with respect to the Subscribed Shares. 
 (g) The Investor became aware of this offering of the Subscribed Shares
solely by means of direct contact between the Investor and Dynamics, the Company or a representative of Dynamics or the Company, and the Subscribed Shares were offered to the Investor solely by direct contact between the Investor and Dynamics, the
Company or a representative of Dynamics or the Company. The Investor did not become aware of this offering of the Subscribed Shares, nor were the Shares offered to the Investor, by any other means. The Investor acknowledges that it has relied solely
upon its independent investigation and is not relying upon, and has not relied upon, any statement, representation or warranty made by any person, firm or corporation (including, without limitation, J.P. Morgan Securities LLC, Morgan
Stanley & Co. LLC and BofA Securities, Inc. (each, a “Placement Agent” and, together, the “Placement Agents”), Dynamics, the Company, any of their respective affiliates or any control persons, officers,
directors, employees, partners, agents or representatives of any of the foregoing) concerning Dynamics, the Company, the Transaction Agreement, this Subscription Agreement or the transactions contemplated hereby or thereby (including the
Transaction), other than the representations and warranties of Dynamics contained in Section 5 of this Subscription Agreement, in making its investment or decision to invest in Dynamics. 

  
 11 

 (h) The Investor acknowledges that it is aware that there are substantial
risks incident to the purchase and ownership of the Subscribed Shares, including those set forth in Dynamics’ filings with the SEC. The Investor has such knowledge and experience in financial and business matters as to be capable of evaluating
the merits and risks of an investment in the Subscribed Shares, and the Investor has sought such accounting, legal and tax advice as the Investor has considered necessary to make an informed investment decision. The Investor will not look to the
Placement Agents for all or part of any such loss or losses the Investor may suffer and is able to sustain a complete loss on its investment in the Subscribed Shares. 

(i) Alone, or together with any professional advisor(s), the Investor has considered the risks of an investment in the
Subscribed Shares and determined that the Subscribed Shares are a suitable investment for the Investor and that the Investor is able at this time and in the foreseeable future to bear the economic risk of a total loss of the Investor’s
investment in Dynamics. The Investor acknowledges specifically that a possibility of total loss exists. 
 (j) The Investor
acknowledges that certain information provided to it by Dynamics was based on projections, and that such projections were prepared based on assumptions and estimates that are inherently uncertain and are subject to a wide variety of significant
business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the projections. The Investor acknowledges that such information and projections were prepared without the
participation of the Placement Agents and that the Placement Agents assume no responsibility for independent verification of, or the accuracy or completeness of, such information or projections. 

(k) The Investor acknowledges that the Placement Agents: (i) have not provided the Investor with any information or advice
with respect to the Subscribed Shares, (ii) have not made and do not make any representation, express or implied, as to Dynamics, the Company, the Company’s credit quality, the Subscribed Shares or the Investor’s purchase of the
Subscribed Shares, (iii) have not acted as the Investor’s financial advisor or fiduciary in connection with the issue and purchase of Subscribed Shares, (iv) may have acquired, or during the period during which the Investor holds the
Subscribed Shares, may acquire, non-public information with respect to the Company or Dynamics, which the Investor agrees need not be provided to it, and (v) may have existing or future business
relationships with Dynamics and the Company (including, but not limited to, lending, depository, risk management, advisory and banking relationships) and will pursue actions and take steps that they deem necessary or appropriate to protect their
interests arising therefrom without regard to the consequences for a holder of Subscribed Shares, and that certain of these actions may have material and adverse consequences for a holder of Subscribed Shares. 

  
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 (l) The Investor acknowledges that it has not relied on the Placement Agents
in connection with its determination as to the legality of its acquisition of the Subscribed Shares or as to the other matters referred to herein, and the Investor has not relied on any investigation that the Placement Agents, any of their
affiliates or any person acting on their behalf have conducted with respect to the Subscribed Shares, Dynamics or the Company. The Investor further acknowledges that it has not relied on any information contained in any research reports or other
materials prepared by the Placement Agents or any of their affiliates. 
 (m) The Investor acknowledges and agrees that no
federal or state agency has passed upon or endorsed the merits of the offering of the Subscribed Shares or made any findings or determination as to the fairness of this investment. 

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

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

(p) The Investor acknowledges and agrees that no disclosure or offering document has been prepared by the Placement Agents in
connection with the offer and sale of the Subscribed Shares. 
 (q) When required to deliver payment to Dynamics pursuant to
Section 2 of this Subscription Agreement, the Investor will have sufficient funds to pay the Subscription Amount and consummate the purchase and sale of the Subscribed Shares pursuant to this Subscription Agreement. 

(r) No broker, finder or other financial consultant has acted on behalf of the Investor in connection with this Subscription
Agreement or the transactions contemplated hereby in such a way as to create any liability on Dynamics. 
 (s) The Investor
does not have, as of the date hereof, and during the 30 day period immediately prior to the date hereof, such Investor has not entered into, any “put equivalent position” as such term is defined in Rule
16a-1 under the Exchange Act or short sale positions with respect to the securities of Dynamics. 

(t) The Investor acknowledges that it is aware that J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC, in
addition to their role as a Placement Agent hereunder, is acting, and has acted as, respectively, capital markets advisor and financial advisor to Dynamics, including, in the case of J.P. Morgan Securities LLC, as underwriter in the initial public
offering of Dynamics Class A common stock. 

  
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 (u) Notwithstanding anything to the contrary set forth herein, the Investor
acknowledges and agrees that, subsequent to the date of this Subscription Agreement and prior to the Closing, Dynamics may enter into one or more additional subscription agreements with other investors with terms and conditions that are not more
advantageous to the investor thereunder than the terms and conditions set forth in this Subscription Agreement (other than terms particular to the regulatory requirements of such other investor or its affiliates or related funds that are mutual
funds), and entry into such subscription agreements may increase the aggregate amount of Shares being subscribed for in the private placement contemplated by this Subscription Agreement. For the avoidance of doubt, such additional subscription
agreements shall reflect not less than the same Per Share Purchase Price and shall, once executed, constitute Other Subscription Agreements for purposes of this Agreement, mutatis mutandis. 

7. Registration Rights 

(a) Dynamics agrees that, within 20 calendar days after the consummation of the Transaction (the “Filing
Deadline”), it will use commercially reasonable efforts to file with the SEC (at its sole cost and expense) a registration statement registering the resale of the Subscribed Shares (the “Registration Statement”), and shall
use its commercially reasonable efforts to have the Registration Statement declared effective as soon as practicable after the filing thereof, but no later than the earlier of (1) the 60th
calendar day after the consummation of the Transaction (or 90th calendar day if the SEC notifies (orally or in writing) Dynamics that it will “review” the Registration Statement), and
(2) the fifth (5th) Business Day after the date Dynamics is notified in writing by the SEC that the Registration Statement will not be “reviewed” or will not be subject to further
review (the “Effectiveness Date”). Dynamics shall provide a draft of the Registration Statement to the Investor for review at least four (4) Business Days in advance of the date of filing the Registration Statement with the SEC
(the “Filing Date”), and the Investor shall provide any comments on the Registration Statement to Dynamics no later than the day which is two (2) Business Days preceding the Filing Date. Dynamics agrees to cause such
Registration Statement, or another shelf registration statement that includes the Subscribed Shares to be sold pursuant to this Subscription Agreement, to remain effective, except for such times as Dynamics is permitted hereunder to suspend the use
of the prospectus forming part of the Registration Statement, until the earliest of (i) the date on which the Investor ceases to hold any Subscribed Shares issued pursuant to this Subscription Agreement, or (ii) the first date on which the
Investor can sell all of its Subscribed Shares issued pursuant to this Subscription Agreement (or shares received in exchange therefor) under Rule 144 of the Securities Act without restriction, including, without limitation, any volume or manner of
sale limitations and without the requirement for Dynamics to be in compliance with the current public information requirement under Rule 144(c)(2) (or Rule 144(i)(2), if applicable). The Investor agrees to disclose its beneficial ownership as
determined in accordance with Rule 13d-3 of the Exchange Act to Dynamics upon request to assist it in making the determination described above. In no event shall the Investor be identified as a statutory
underwriter in the Registration Statement unless requested by the SEC; provided, that if the SEC requests that the Investor be identified as a statutory underwriter in the Registration Statement, the Investor will have an opportunity to
withdraw its Subscribed Shares from the Registration Statement. Notwithstanding the foregoing, if the SEC prevents Dynamics from 

  
 15 

 
including any or all of the Subscribed Shares proposed to be registered under the Registration Statement due to limitations on the use of Rule 415 of the Securities Act for the resale of the
Subscribed Shares or otherwise, such Registration Statement shall register for resale such number of Subscribed Shares which is equal to the maximum number of Subscribed Shares as is permitted by the SEC. In such event, the number of Shares to be
registered for each selling shareholder named in the Registration Statement shall be reduced pro rata among all such selling shareholders, and as promptly as practicable after being permitted to register additional Shares under Rule 415 under the
Securities Act, Dynamics shall amend the Registration Statement or file a new Registration Statement to register such additional Shares and cause such amendment or Registration Statement to become effective as promptly as practicable. Dynamics’
obligations to include the Subscribed Shares for resale in the Registration Statement are contingent upon the Investor furnishing in writing to Dynamics such information regarding the Investor, the securities of Dynamics held by the Investor and the
intended method of disposition of such Subscribed Shares as shall be reasonably requested by Dynamics to effect the registration of such Subscribed Shares, and the Investor shall execute such documents in connection with such registration as
Dynamics may reasonably request that are customary of a selling stockholder in similar situations, provided that, the Investor shall not, in connection with the foregoing, be required to execute any lock-up or
similar agreement or otherwise be subject to any contractual restriction on the ability to transfer the Subscribed Shares. For purposes of clarification, any failure by Dynamics to file the Registration Statement by the Filing Deadline or to effect
such Registration Statement by the Effectiveness Date shall not otherwise relieve Dynamics of its obligations to file or effect the Registration Statement set forth in this Section 7 of this Subscription Agreement. For as long as the
Registration Statement shall remain effective pursuant to this Section 7(a) of this Subscription Agreement, Dynamics will use commercially reasonable efforts to (1) qualify the Subscribed Shares for listing on the Nasdaq, and
(2) update or amend the Registration Statement as necessary to include the Subscribed Shares. For as long as the Investor holds the Subscribed Shares, Dynamics will use commercially reasonable efforts to (A) make and keep public
information available, as those terms are understood and defined in Rule 144, (B) file in a timely manner all reports and other documents with the SEC required under the Exchange Act, as long as Dynamics remains subject to such requirements, and
(C) provide all customary and reasonable cooperation necessary, in each case, to enable the Investor to resell the Subscribed Shares pursuant to the Registration Statement or Rule 144 of the Securities Act (when Rule 144 of the Securities Act
becomes available to the Investor), as applicable. 
 (b) Notwithstanding anything to the contrary contained herein, Dynamics
may delay or postpone the effectiveness of such Registration Statement, and from time to time require the Investor not to sell under the Registration Statement or suspend the use or effectiveness of any such Registration Statement, if the board of
directors of Dynamics determines in good faith that it would require Dynamics to make an Adverse Disclosure (each such circumstance, a 

  
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“Suspension Event”); provided, that, (i) Dynamics shall not so delay filing or so suspend the use of the Registration Statement on more than two occasions or for a
period of more than 45 consecutive days or more than a total of 60 calendar days, in each case in any 360-day period, and (ii) Dynamics shall use commercially reasonable efforts to make such Registration
Statement available for the sale by the Investor of its Subscribed Shares as soon as practicable thereafter. For purpose of this Section 7(b), “Adverse Disclosure” means public disclosure of any material nonpublic information
which, in the good faith reasonable determination of the board of directors of Dynamics, (i) would be required to be made in any Registration Statement filed with the SEC by Dynamics so that such Registration Statement, from and after its
effective date, does not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading; (ii) would not be required to be made at such
time but for the filing, effectiveness or continued use of such Registration Statement; and (iii) Dynamics has a bona fide business purpose for not disclosing publicly and would reasonably be likely to be detrimental to Dynamics and its
subsidiaries. If so directed by Dynamics, the Investor will deliver to Dynamics or, in the Investor’s sole discretion destroy, all copies of the prospectus covering the Subscribed Shares in the Investor’s possession; provided,
however, that this obligation to deliver or destroy all copies of the prospectus covering the Subscribed Shares shall not apply (i) to the extent the Investor is required to retain a copy of such prospectus (A) in order to comply
with applicable legal or regulatory 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. Dynamics shall promptly notify the Investor in writing (a) with evidence of making of such suspension decision, and (b) the date on which such suspension will begin and
date on which such suspension ends. 
 (c) In the case of the registration, qualification, exemption or compliance effected
by Dynamics pursuant to this Subscription Agreement, Dynamics shall, upon reasonable request, inform Investor as to the status of such registration, qualification, exemption and compliance. At its expense Dynamics shall advise the Investor within
two (2) Business Days: (i) when a Registration Statement or any post-effective amendment thereto has become effective, (ii) of the issuance by the SEC of any stop order suspending the effectiveness of any Registration Statement or the
initiation of any proceedings for such purpose, (iii) of the receipt by Dynamics of any notification with respect to the suspension of the qualification of the Subscribed Shares included therein for sale in any jurisdiction, or the initiation
or threatening of any proceeding for such purpose, and (iv) subject to the provisions in this Subscription Agreement, of the occurrence of any event that requires the making of any changes in any Registration Statement or prospectus so that, as
of such date, the statements therein are not misleading and do not omit to state a material fact required to be stated therein or necessary to make the statements therein (in the case of a prospectus, in light of the circumstances under which they
were made) not misleading. Upon receipt of any written notice from Dynamics (which notice shall 

  
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not contain any material non-public information regarding Dynamics) of the happening of any of the foregoing or of a Suspension Event during the period
that the Registration Statement is effective or, if as a result of a Suspension Event, the Registration Statement or related prospectus contains any untrue statement of a material fact or omits to state any material fact required to be stated
therein or necessary to make the statements therein, in light of the circumstances under which they were made (in the case of the prospectus) not misleading, the Investor agrees that (1) it will immediately discontinue offers and sales of the
Subscribed Shares under the Registration Statement (excluding, for the avoidance of doubt, sales conducted pursuant to Rule 144) until the Investor receives copies of a supplemental or amended prospectus (which Dynamics 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 (unless otherwise notified by Dynamics that it may resume such offers and sales), and (2) it will
maintain the confidentiality of any information included in such written notice delivered by Dynamics except (A) for disclosure to the Investor’s employees, agents and professional advisers who need to know such information and are
obligated to keep it confidential, (B) for disclosures to the extent required in order to comply with reporting obligations to its limited partners who have agreed to keep such information confidential, and (C) as required by law or
subpoena. Dynamics shall use its commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of any Registration Statement as soon as reasonably practicable. Upon the occurrence of any event contemplated in
clauses (i) through (iv) above, except for such times as Dynamics is permitted hereunder to suspend, and has suspended, the use of a prospectus forming part of a Registration Statement, Dynamics shall use its commercially reasonable efforts to
as soon as reasonably practicable prepare a post-effective amendment to such Registration Statement or a supplement to the related prospectus, or file any other required document so that, as thereafter delivered to purchasers of the Subscribed
Shares included therein, such prospectus will not include any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading.

 (d) For purposes of this Section 7 of this Subscription Agreement, (i) “Subscribed Shares” shall
mean, as of any date of determination, the Subscribed Shares acquired by the Investor pursuant to this Subscription Agreement and any other equity security issued or issuable with respect to such Subscribed Shares by way of stock split, dividend,
distribution, recapitalization, merger, exchange, replacement or similar event, and (ii) “Investor” shall include any affiliate of the undersigned Investor to which the rights under this Section 7 of this Subscription Agreement
have been duly assigned. 

  
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 (e) The Investor may request that Dynamics remove any restrictive legend
from the book-entry position evidencing the Subscribed Shares. The Investor’s request may be delivered at such time as the Subscribed Shares (i) have been or are to be sold or transferred pursuant to an effective Registration Statement, or
(ii) have been or are to be sold pursuant to Rule 144 under the Securities Act, such that the Subscribed Shares held by the Investor become freely tradable, upon compliance by the Investor with the requirements of this Section 7(e).
Dynamics shall cause its transfer agent to remove any restrictive legends related to the book entry account holding such Subscribed Shares and make a new, unlegended entry for such book entry Subscribed Shares without restrictive legends within two
(2) trading days of any such sale or disposition, provided that Dynamics and its transfer agent have timely received from the Investor customary representations and other documentation reasonably acceptable to Dynamics and its transfer agent in
connection therewith Additionally, if restrictive legends are no longer required for the Subscribed Shares under the Securities Act, Investor may request that the restrictive legends be removed from the Subscriber Shares. 

(f) Indemnification. 

(i) Dynamics agrees to indemnify and hold harmless, to the extent permitted by law, the Investor, its directors, and officers,
employees and agents, and each person who controls the Investor (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) and each affiliate of the Investor (within the meaning of Rule 405 under the
Securities Act) from and against any and all losses, claims, damages, liabilities and reasonable and documented out-of-pocket costs and expenses (including, without
limitation, any reasonable attorneys’ fees and expenses incurred in connection with defending or investigating any such action or claim), as incurred, that arise out of, are based upon, or are caused by any untrue or alleged untrue statement of
a material fact contained in the Registration Statement, prospectus included in the Registration Statement or preliminary prospectus or any amendment thereof or supplement thereto, or any omission or alleged omission of a material fact required to
be stated therein or necessary to make the statements therein, not misleading, except insofar as and to the extent, but only to the extent, the same are caused by or contained in any information or affidavit regarding the Investor furnished in
writing to Dynamics by or on behalf of the Investor expressly for use therein. 
 (ii) The Investor agrees, severally and not
jointly with any person that is a party to the Other Subscription Agreements, to indemnify and hold harmless Dynamics, its directors and officers, agents and employees, and each person who controls Dynamics (within the meaning of Section 15 of
the Securities Act and Section 20 of the Exchange Act) against any losses, claims, damages, liabilities and reasonable and documented out-of-pocket costs and
expenses (including, without limitation, reasonable attorneys’ fees), that arise out of, are based upon, or are caused by any untrue statement of a material fact contained in the Registration Statement, or any form of prospectus or preliminary
prospectus or any amendment thereof or supplement thereto, or any omission of a material fact required to be stated therein (in the case of any 

  
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prospectus, or any form of prospectus or preliminary prospectus or supplement thereto, in light of the circumstances under which they were made) or necessary to make the statements therein not
misleading, but only to the extent that such untrue statement or omission is contained in any information or affidavit so furnished in writing by the Investor expressly for use therein. In no event shall the liability of the Investor be greater in
amount than the dollar amount of the net proceeds received by the Investor upon the sale of the Subscribed Shares giving rise to such indemnification obligation. 

(iii) Any person entitled to indemnification herein shall (A) give prompt written notice to the indemnifying party of any
claim with respect to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any person’s right to indemnification hereunder to the extent such failure has not materially prejudiced the indemnifying
party) and, (B) unless in such indemnified party’s reasonable judgment and upon the advice of counsel that a conflict of interest between such indemnified and indemnifying parties exists with respect to such claim, permit such indemnifying
party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. The indemnifying party shall not be subject to any liability for any settlement made by the indemnified party without its consent (but such
consent shall not be unreasonably withheld, conditioned or delayed). An indemnifying party who is not entitled to or elects not to assume the defense of a claim shall not be obligated to pay the fees and expenses of one counsel for each of the
parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of legal counsel to any indemnified party a conflict of interest exists between such indemnified party and any other of such indemnified
parties with respect to such claim, in which case the indemnifying party shall be obligated to pay for one additional counsel with respect to the other indemnified party to which such conflict exists. No indemnifying party shall, without the consent
of the indemnified party, consent to the entry of any judgment or enter into any settlement which cannot be settled in all respects by the payment of money (and such money is so paid by the indemnifying party pursuant to the terms of such
settlement) or which settlement includes a statement or admission of fault and culpability on the part of such indemnified party or which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified
party of a release from all liability in respect of such claim or litigation. 
 (iv) The indemnification provided for under
this Section 7(f) shall remain in full force and effect regardless of any investigation made by or on behalf of the indemnified party or any officer, director, employee, agent, affiliate or controlling person of such indemnified party and shall
survive the transfer of the Subscribed Shares purchased pursuant to this Subscription Agreement. 

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

8. No Short Sales. The Investor agrees that, from the date of this Subscription Agreement until the Closing, or until the earlier
termination of this Subscription Agreement in accordance with Section 10 of this Subscription Agreement, none of the Investor or any person or entity acting on behalf of the Investor pursuant to any understanding with the Investor will engage
in any Short Sales (as defined below) with respect to securities of Dynamics. For the purposes hereof, “Short Sales” shall include, without limitation, all “short sales” as defined in Rule 200 promulgated under Regulation
SHO under the Exchange Act, and all types of direct and indirect stock pledges (other than pledges in the ordinary course of business as part of prime brokerage arrangements), forward sale contracts, options, puts, calls, swaps and similar
arrangements (including on a total return basis), including through non-U.S. broker dealers or foreign regulated brokers. This Section 8 shall not apply to any sale (including the valid exercise of any
redemption right) of securities of Dynamics (i) held by the Investor, its controlled 

  
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affiliates or any person or entity acting on behalf of the Investor or any of its controlled affiliates prior to the execution of this Subscription Agreement, or (ii) purchased by the
Investor, its controlled affiliates or any person or entity acting on behalf of the Investor or any of its controlled affiliates in open market transactions after the execution of this Subscription Agreement. Further, for the avoidance of doubt,
this Section 8 shall not apply to ordinary course, non-speculative hedging transactions. Notwithstanding the foregoing, (a) nothing herein shall prohibit other entities under common management with
the Investor that have no knowledge of this Subscription Agreement or of the Investor’s subscription for Subscribed Shares pursuant to this Subscription Agreement (including the Investor’s affiliates) from entering into any Short Sales,
and (b) if the Investor is a multi-managed investment vehicle, whereby separate portfolio managers manage separate portions of the Investor’s assets, and the portfolio managers have no knowledge of the investment decisions made by the
portfolio managers managing other portions of the Investor’s assets, then, in each case, the agreement set forth above shall only apply with respect to the portion of the assets managed by the portfolio manager that made the investment decision
to purchase the Subscribed Shares to be issued pursuant to this Subscription Agreement. 
 9. Most Favored Nation. Substantially
concurrently with the execution of this Subscription Agreement, Dynamics is entering into Other Subscription Agreements with Other Investors in respect of subscriptions for Shares. Except as set forth on Section 9 of Schedule B hereto, if any
Other Investor is afforded more favorable terms than the Investor is being afforded under the terms of this Subscription Agreement (including, without limitation, in respect of the Per Share Purchase Price), other than terms particular to the
regulatory requirements of such Other Investor or its affiliates or related funds that are mutual funds, then Dynamics shall immediately inform the Investor of the more favorable terms and the Investor shall have the right to elect to receive such
more favorable terms, in which case, if the Investor so elects, the parties hereto shall promptly amend this Subscription Agreement to reflect the more favorable terms. For the avoidance of doubt, the rights and obligations of any Investor or Other
Investor shall be exclusive of any rights such Investor or Other Investor may have under any Non-Redemption Agreement. 

10. Termination. This Subscription Agreement shall terminate and be void and of no further force and effect, and all rights and
obligations of the parties hereunder shall terminate without any further liability on the part of any party in respect thereof, upon the earlier to occur of (a) such date and time as the Transaction Agreement is terminated in accordance with
its terms, (b) upon the mutual written agreement of each of the parties hereto to terminate this Subscription Agreement, or (c) the Termination Date (as defined in the Transaction Agreement as of the date hereof) if the Closing has not
occurred by the Termination Date (provided that the right to terminate this Subscription Agreement pursuant to this clause (c) shall not be available to the Investor if the Investor’s breach of any of its covenants or obligations under
this Subscription Agreement, or if an affiliate of the Investor is one of the Other Investors under an Other Subscription Agreement, such Other Investor’s breach of any of its covenants or obligations under the Other Subscription Agreement,
either individually or in the aggregate, shall have proximately caused the failure of the Closing or the Transaction to occur on or before the Termination 

  
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Date (the termination events described in the immediately preceding clauses (a) through (c) being, collectively, the “Termination Events”); provided, that nothing
herein will relieve any party from liability for any willful and material breach hereof prior to the time of termination, and each party will be entitled to any remedies at law or in equity to recover losses, liabilities or damages arising from any
such willful and material breach. Dynamics shall notify the Investor of the termination of the Transaction Agreement promptly after the termination of such agreement. Upon the occurrence of any Termination Event, this Subscription Agreement shall be
void and of no further effect and any monies paid by the Investor to Dynamics in connection herewith shall promptly (and in any event within one (1) Business Day) following the Termination Event be returned to the Investor. No later than 9:00
a.m., New York City time, on the first (1st) Business Day following a Termination Event, Dynamics shall file with the SEC a Current Report on Form 8-K
disclosing the termination of the Transaction Agreement and any other material, nonpublic information that Dynamics provides or makes available to the Investor or any of the Investor’s affiliates, attorneys, agents or representatives at any
time prior to the filing of such Form 8-K with respect to the Company, the Transaction and the transactions contemplated by this Subscription Agreement, the Other Subscription Agreements and the Transaction
Agreement that constitutes material, nonpublic information. 
 11. Trust Account Waiver. The Investor hereby acknowledges that
Dynamics has established a trust account (the “Trust Account”) containing the proceeds of its initial public offering (the “IPO”) and from certain private placements occurring simultaneously with the IPO (including
interest accrued from time to time thereon) for the benefit of Dynamics’ public stockholders and certain other parties (including the underwriters of the IPO). For and in consideration of Dynamics entering into this Subscription Agreement, and
for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Investor, for an on behalf of itself and its affiliates and other related entities, hereby agrees that it does not now and shall not at any
time hereafter have any right, title, interest or claim of any kind in or to any assets held in the Trust Account, and shall not make or bring any action, suit, claim or other proceeding against the Trust Account that arises as a result of, in
connection with or relates in any way to this Subscription Agreement, the transactions contemplated hereby or the Subscribed Shares, and regardless of whether such action, suit, claim or other proceeding arises based on contract, tort, equity or any
other theory of legal liability (any and all such actions, suits, claims or other proceedings are collectively referred to hereafter as the “Released Claims”). The Investor hereby irrevocably and unconditionally waives any Released
Claims that it may have against the Trust Account now or in the future and will not seek recourse against the Trust Account as a result of, or arising out of, this Subscription Agreement or any other matter related to the transactions set forth
herein; provided, however, that nothing in this Section 11 of this Subscription Agreement shall (x) be deemed to limit any of the Investor’s right, title, interest or claim to the Trust Account by virtue of
Investor’s record or beneficial ownership of securities of Dynamics acquired by any means other than pursuant to this Subscription Agreement, (y) serve to limit or prohibit the Investor’s right to pursue a claim against Dynamics for
legal relief against assets held outside the Trust Account, for specific performance or other equitable relief, or (z) serve to limit or prohibit any claims that the Investor may have in the future against Dynamics’ assets or funds that
are not held in the Trust Account. 

  
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 12. Miscellaneous. 

(a) Neither this Subscription Agreement nor any rights that may accrue to the Investor hereunder (other than the Subscribed
Shares acquired hereunder, if any) may be transferred or assigned, other than an assignment to any fund or account managed by the same investment manager as the Investor or an affiliate thereof. 

(b) Dynamics may request from the Investor such additional information as Dynamics may deem necessary to register the resale of
the Subscribed Shares and evaluate the eligibility of the Investor to acquire the Subscribed Shares, and the Investor shall promptly provide such information as may reasonably be requested; provided, that Dynamics agrees to keep any such
information provided by the Investor confidential, except (i) as required by the federal securities laws, rules or regulations, and (ii) to the extent such disclosure is required by other laws, rules or regulations, at the request of the
staff of the SEC or another regulatory agency or under the regulations of Nasdaq. The Investor acknowledges that Dynamics may file a copy of this Subscription Agreement with the SEC as an exhibit to a periodic report or a registration statement of
Dynamics. 
 (c) The Investor acknowledges (i) that Dynamics and others will rely on the acknowledgments,
understandings, agreements, representations and warranties contained in this Subscription Agreement, and (ii) the Placement Agents will rely on, and are expressly third-party beneficiaries of, the acknowledgments, understandings, agreements,
representations and warranties set forth in Section 6, this Section 12(c), Section 12(d), Section 12(f) and Section 13. 

(d) Dynamics, the Company, the Investor and the Placement Agents are each entitled to rely upon this Subscription Agreement and
each is irrevocably authorized to produce this Subscription Agreement or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby; provided, however,
that the foregoing clause of this Section 12(d) of this Subscription Agreement shall not give Dynamics or the Company any rights other than those expressly set forth herein and, without limiting the generality of the foregoing and for the
avoidance of doubt, in no event shall the Company be entitled to rely on any of the representations and warranties of Dynamics or the Investor set forth in this Subscription Agreement. 

  
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 (e) All of the representations and warranties made by each party hereto in
this Subscription Agreement shall survive the Closing until the expiration of any applicable statute of limitations. Prior to the Closing, the Investor and Dynamics agree to promptly notify the other if any of their representations and warranties
set forth herein are no longer accurate in all material respects (other than representations and warranties that are qualified as to materiality or Material Adverse Effect (as defined herein), in which case, the Investor or Dynamics, as applicable,
agrees to promptly notify the other if such representations and warranties are not true in all respects). 
 (f) This
Subscription Agreement may not be modified, waived or terminated (other than pursuant to the terms of Section 10 of this Subscription Agreement) except by an instrument in writing, signed by each of the parties hereto. No failure or delay of
either party in exercising any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or remedy, or any abandonment or discontinuance of steps to enforce such right or remedy, or any
course of conduct, preclude any other or further exercise thereof or the exercise of any other right or remedy. The rights and remedies of the parties hereunder are cumulative and are not exclusive of any rights or remedies that they would otherwise
have hereunder. Notwithstanding anything to the contrary herein, Section 6, Section 12(c), Section 12(d), this Section 12(f) and Section 13 may not be modified, waived or terminated in a manner adverse to the Placement
Agents without the written consent of the Placement Agents. 
 (g) This Subscription Agreement (including Schedule A hereto)
constitutes the entire agreement, and supersedes all other prior agreements, understandings, undertaking, arrangements, representations and warranties, both written and oral, among the parties, with respect to the subject matter hereof. Except with
respect to the persons specifically referenced herein, this Subscription Agreement shall not confer any rights or remedies upon any person other than the parties hereto, and their respective heirs, executors, administrators, successors, legal
representatives and permitted assigns, and the parties hereto acknowledge that such persons so referenced are third party beneficiaries of this Subscription Agreement for the purposes of, and to the extent of, the rights granted to them, if any,
pursuant to the applicable provisions. 
 (h) Except as otherwise provided herein, this Subscription Agreement shall be
binding upon, and inure to the benefit of the parties hereto and their heirs, executors, administrators, successors, legal representatives and permitted assigns, and the agreements, representations, warranties, covenants and acknowledgments
contained herein shall be deemed to be made by, and be binding upon, such heirs, executors, administrators, successors, legal representatives and permitted assigns. 

  
 25 

 (i) If any provision of this Subscription Agreement shall be adjudicated by
a court of competent jurisdiction to be invalid, illegal or unenforceable, the validity, legality or enforceability of the remaining provisions of this Subscription Agreement shall not in any way be affected or impaired thereby and shall continue in
full force and effect. 
 (j) This Subscription Agreement may be executed in one or more counterparts (including by facsimile
or electronic mail or in .pdf) and by different parties in separate counterparts, with the same effect as if all parties hereto had signed the same document. All counterparts so executed and delivered shall be construed together and shall constitute
one and the same agreement. 
 (k) The parties hereto acknowledge and agree that irreparable damage would occur in the event
that any of the provisions of this Subscription Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties may be entitled to an injunction or injunctions to prevent
breaches of this Subscription Agreement, without posting a bond or undertaking and without proof of damages, to enforce specifically the terms and provisions of this Subscription Agreement, this being in addition to any other remedy to which such
party is entitled at law, in equity, in contract, in tort or otherwise. The parties acknowledge and agree that this Section 12(k) of this Subscription Agreement is an integral part of the transactions contemplated hereby and without these
rights, the parties hereto would not have entered into this Subscription Agreement. 
 (l) This Subscription Agreement shall
be governed by and construed in accordance with the laws of the State of New York (regardless of the laws that might otherwise govern under applicable principles of conflicts of laws thereof) as to all matters (including any action, suit,
litigation, arbitration, mediation, claim, charge, complaint, inquiry, proceeding, hearing, audit, investigation or review by or before any governmental entity related hereto), including matters of validity, construction, effect, performance and
remedies. 
 (m) THE PARTIES HERETO IRREVOCABLY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR
THE SOUTHERN DISTRICT OF NEW YORK AND THE SUPREME COURT OF THE STATE OF NEW YORK SOLELY IN RESPECT OF THE INTERPRETATION AND ENFORCEMENT OF THE PROVISIONS OF THIS SUBSCRIPTION AGREEMENT AND THE DOCUMENTS REFERRED TO IN THIS SUBSCRIPTION AGREEMENT
AND IN RESPECT OF THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY, AND HEREBY WAIVE, AND AGREE NOT TO ASSERT, AS A DEFENSE IN ANY RELATED ACTION, SUIT OR PROCEEDING, THAT SUCH ACTION, SUIT OR PROCEEDING MAY NOT BE BROUGHT OR IS NOT MAINTAINABLE IN
SAID COURTS OR THAT VENUE THEREOF MAY NOT BE APPROPRIATE OR THAT THIS SUBSCRIPTION AGREEMENT OR ANY SUCH DOCUMENT MAY NOT BE ENFORCED IN OR BY SUCH COURTS, 

  
 26 

 
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 NEW YORK STATE OR FEDERAL COURT. THE PARTIES
HEREBY CONSENT TO AND GRANT ANY SUCH COURT JURISDICTION OVER THE PERSON OF SUCH PARTIES AND OVER THE SUBJECT MATTER OF SUCH DISPUTE AND AGREE THAT MAILING OF PROCESS OR OTHER PAPERS IN CONNECTION WITH SUCH ACTION, SUIT OR PROCEEDING IN ANY SUCH
MANNER AS MAY BE PERMITTED BY LAW OR USING THE DETAILS SET FORTH IN SECTION 19 OF THIS SUBSCRIPTION AGREEMENT SHALL BE VALID AND SUFFICIENT SERVICE THEREOF. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS
SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN
RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS SUBSCRIPTION AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT
OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER; (II) SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THE
FOREGOING WAIVER; (III) SUCH PARTY MAKES THE FOREGOING WAIVER VOLUNTARILY, AND (IV) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS SUBSCRIPTION AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVER AND CERTIFICATIONS IN THIS SECTION 12(M) OF
THIS SUBSCRIPTION AGREEMENT. 
 13. Non-Reliance and Exculpation. The Investor acknowledges
that it is not relying upon, and has not relied upon, any statement, representation or warranty made by any person, firm or corporation (including, without limitation, the Placement Agents, any of their affiliates or any control persons, officers,
directors, employees, partners, agents or representatives of any of the foregoing), other than the statements, representations and warranties of Dynamics expressly contained in Section 5 of this Subscription Agreement, in making its investment
or decision to invest in Dynamics. The Investor acknowledges and, to the maximum extent permitted by law, agrees that none of (i) any Other Investor pursuant to this Subscription Agreement or any Other Subscription Agreement (including the
Other Investors’ respective affiliates or any control persons, officers, directors, employees, partners, agents or representatives of any of the foregoing), (ii) the Placement Agents, their affiliates or any control persons, officers,
directors, employees, partners, agents or representatives of any of the foregoing, or (iii) any party to the Transaction Agreement other than Dynamics (solely pursuant to the terms and conditions set forth

  
 27 

 
herein) or any Non-Party Affiliate, shall have any liability to the Investor pursuant to, arising out of or relating to this Subscription Agreement, the
negotiation hereof or its subject matter, or the transactions contemplated hereby, including, without limitation, with respect to any action heretofore or hereafter taken or omitted to be taken by any of them in connection with the sale and purchase
of the Subscribed Shares or with respect to any claim (whether in tort, contract or otherwise) for breach of this Subscription Agreement or in respect of any written or oral representations made or alleged to be made in connection herewith or as
expressly provided herein, or for any actual or alleged inaccuracies, misstatements or omissions with respect to any information or materials of any kind furnished by Dynamics, the Company, the Placement Agents or any
Non-Party Affiliate concerning Dynamics, the Company, the Placement Agents, any of their respective controlled affiliates, this Subscription Agreement or the transactions contemplated hereby. For purposes of
this Section 13 of this Subscription Agreement, “Non-Party Affiliate” means former, current or future officers, directors, employees, partners, members, managers, direct or indirect
equity holders or affiliates of Dynamics, the Company, the Placement Agents or any of Dynamics’, the Company’s or the Placement Agents’ controlled affiliates or any family member of the foregoing. 

14. Disclosure. Dynamics shall, by 9:00 a.m., New York City time, on the first
(1st) Business Day immediately following the date of this Subscription Agreement, issue one or more press releases and file with the SEC a Current Report on Form
8-K (collectively, the “Disclosure Document”) disclosing all material terms of the transactions contemplated hereby and by the Other Subscription Agreements, the Transaction and any other
material, non-public information that Dynamics has provided to the Investor at any time prior to the filing of the Disclosure Document (unless Dynamics determines, in compliance with applicable laws and
regulations, that any of such information is no longer material) and including as exhibits to the Disclosure Document, the form of this Subscription Agreement and the Other Subscription Agreements (in each case, without redaction). Upon the issuance
of the Disclosure Document, to the actual knowledge of Dynamics, the Investor shall not be in possession of any material, non-public information received from Dynamics or any of its officers, directors,
employees or agents, and the Investor shall no longer be subject to any confidentiality or similar obligations under any current agreement, whether written or oral, with Dynamics or any of its affiliates, relating to the transactions contemplated by
this Subscription Agreement. No later than 9:00 a.m., New York City time, on the fourth (4th) Business Day following the Closing Date, Dynamics shall file with the SEC a Current Report on Form 8-K (the “Super 8-K”) disclosing the requisite Form 10 information (within the meaning of Rule 144), the consummation of the transactions contemplated by this
Subscription Agreement, the Other Subscription Agreements and the Transaction Agreement (including the Transaction) and any other material, nonpublic information that Dynamics has provided or made available to the Investor or any of the
Investor’s affiliates, attorneys, agents or representatives at any time prior to the filing of the Super 8-K with respect to the Company, the Transaction and the transactions contemplated by this
Subscription Agreement, the Other Subscription Agreements and the Transaction Agreement that constitutes material, nonpublic information. Notwithstanding anything in this Subscription Agreement to the contrary, Dynamics shall not, without the prior
written consent (including by email) of the Investor, publicly 

  
 28 

 
disclose the name of the Investor or any of its affiliates or advisers, or include the name of the Investor or any of its affiliates or advisers in (i) any press release or marketing
materials, or (ii) any filing with the SEC or any regulatory agency or trading market, except (1) as required by federal securities laws or other laws, in the reasonable judgment of outside counsel to Dynamics or the Sponsor, (2) at
the request of the staff of the SEC or another regulatory agency, or pursuant to other routine proceedings of regulatory authorities, or (3) under the regulations of any national securities exchange on which Dynamics’ securities are listed
for trading (including Nasdaq), and, in each case for clauses (1) to (3), Dynamics shall be permitted to make such disclosures without the prior written consent of the Investor, provided that Dynamics, to the extent permitted by law, gives the
Investor prior written notice of such disclosure under this clause (ii) and reasonably consults with the Investor regarding such disclosure; except, in the case of clause (ii), to the extent such announcements or other communications
contain only information previously disclosed in a public statement, press release or other communication previously approved in accordance with this Section 14 of this Subscription Agreement, in which case Dynamics may publicly disclose such
information without obtaining any further consent from the Investor. 
 15. Several Obligations. As applicable, for ease of
administration, this single Subscription Agreement may be executed so as to enable the Investor identified on the signature page to enter into a Subscription Agreement, severally, but not jointly. The parties agree that (i) the Subscription
Agreement shall be treated as if it were a separate agreement with respect to the Investor listed on the signature page and the Other Investors, as if each of the Investors had executed a separate Subscription Agreement naming only itself as
subscriber, and (ii) the Investor listed on the signature page shall not have any liability under the Subscription Agreement for the obligations of any Other Investor so listed. In addition, the obligations of the Investor(s) under this
Subscription Agreement are several and not joint with the obligations of any Other Investor or any other investor under the Other Subscription Agreements, and the Investor shall not be responsible in any way for the performance of the obligations of
any Other Investor under this Subscription Agreement or any Other Investor or other investor under the Other Subscription Agreements. Nothing contained herein or in any Other Subscription Agreement, and no action taken by the Investor or any Other
Investor or other investor pursuant hereto or thereto, shall be deemed to constitute the Investor and any Other Investors or other investors as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that
the Investor and any Other Investors or other investors are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by this Subscription Agreement and the Other Subscription Agreements. The
Investor shall be entitled to independently protect and enforce its rights, including the rights arising out of this Subscription Agreement, and it shall not be necessary for any Other Investor to be joined as an additional party in any proceeding
for such purpose. 
 16. Amendments. This Subscription Agreement may not be amended, modified or waived except by an instrument in
writing, signed by each of the parties hereto. 

  
 29 

 17. Information. The Investor will promptly provide any information reasonably
requested by Dynamics for any regulatory application or filing made or approval sought in connection with the Transaction (including filings with the SEC). 

18. Expenses. Each party shall pay all of its own expenses in connection with the negotiation, preparation and execution of this
Subscription Agreement and the consummation of the transactions contemplated herein. 
 19. Notices. All notices, requests, claims,
demands and other communications hereunder shall be in writing and shall be given (and shall be deemed to have been duly given) by delivery in person, by facsimile (having obtained electronic delivery confirmation thereof), e-mail (having obtained electronic delivery confirmation thereof) or by registered or certified mail (postage prepaid, return receipt requested) (upon receipt thereof) to the other parties as follows: 

(a) if to the Investor, using the contact details set forth on the signature page hereto; and 

(b) if to Dynamics, to: 

2875 El Camino Real 

Redwood City, California, 94061 

United States of America 

Attention: Omid Farokhzad, Mostafa Ronaghi, Mark Afrasiabi 

Email: of@dspc.bio, mr@dspc.bio, ma@dspc.bio 

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

Davis Polk & Wardwell LLP 

1600 El Camino Real 

Menlo Park, CA 94025 

United States of America 

Attention: Alan Denenberg, Soren Kreider 

Email: alan.denenberg@davispolk.com, w.soren.kreider@davispolk.com 

or to such other address as the party to whom notice is given may have previously furnished to the other party in writing. 

[SIGNATURE PAGES FOLLOW] 

  
 30 

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

											
	Name of Investor:	 		 	State/Country of Formation or Domicile:
				
	By:	 	
                     
                                        
	 		 	
	Name:	 		 		 	
	Title:	 	  
	 		 	
	
	Name in which Subscribed Shares are to be registered (if different from the Investor): _________________
			
	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.:
	Email:	 		 	Email:
			
	Number of Shares subscribed for:	 		 	
			
	Aggregate Subscription Amount:         $	 		 	Price Per Share:         $10.00

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

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

			
	DYNAMICS SPECIAL PURPOSE CORP.
		
	By:	 	  

		 	Name:
		 	Title:

 Date: __________________ 2021 

 SCHEDULE A 

ELIGIBILITY REPRESENTATIONS OF THE INVESTOR 
  

	A.	 QUALIFIED INSTITUTIONAL BUYER STATUS 

(Please check the applicable subparagraphs): 
  

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

 OR 
  

	B.	 INSTITUTIONAL ACCREDITED INVESTOR STATUS 

(Please check the applicable subparagraphs): 
  

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

  

	 	2.	 ☐ We are not a natural person. 

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

☐ Any plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its
political subdivisions for the benefit of its employees, if such plan has total assets in excess of $5,000,000; 
 ☐ Any employee
benefit plan, within the meaning of the Employee Retirement Income Security Act of 1974, if a bank, insurance company or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5,000,000; 

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

☐ Any trust with assets in excess of $5,000,000, not formed to acquire the securities offered, whose purchase is directed by a
sophisticated person; or 
 ☐ Any entity in which all of the equity owners are “accredited investors” meeting one or more of
the above tests. 
 AND 
  

	C.	 INSTITUTIONAL ACCOUNT STATUS 

(Please check the applicable subparagraphs): 
  

	☐	 We are an “institutional account” (as defined in FINRA Rule 4512(c)). 

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

 SCHEDULE B 

Section 5(f) 
 With respect to the
Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2021 (the “3Q Form 10-Q”), which was filed on November 10, 2021,
following the filing thereof, DYNS learned from its auditors and advisors that, based on discussions between the SEC and other special purpose acquisition companies and their auditors, certain revisions to the classification of redeemable
Class A shares from permanent equity to temporary equity reflected in the 3Q Form 10-Q constitute, in the SEC staff’s opinion, a “material weakness” in DYNS’s internal control over
financial reporting relating to accounting for complex financial instruments. In light of this material weakness, DYNS performed additional analysis and determined that the (i) audited balance sheet as of May 28, 2021 filed as Exhibit 99.1
to DYNS’s Current Report on Form 8-K filed with the SEC on June 4, 2021 (the “Form 8-K”), (ii) unaudited interim financial statements included
in DYNS’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2021, filed with the SEC on August 6, 2021 (the “Q2 Form
10-Q”), and (iii) unaudited interim financial statements included in the 3Q Form 10-Q (collectively, the “Affected Periods”) should no
longer be relied upon due to changes required to the classification of temporary equity and permanent equity described in the 3Q Form 10-Q. On December 10, 2021, DYNS filed amendments to its 3Q Form 10-Q, 2Q Form 10-Q, and Form 8-K for the Affected Periods, reflecting the restatement of the Class A common stock subject to
redemption and change to its presentation of earnings per share for the Affected Periods. 
 Section 9 

The Company may enter into manufacturing and development joint ventures or collaborations with potential third parties, and may offer the
opportunity to invest in the PIPE Financing on the same terms and conditions as other Investors to such potential third parties.

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