Document:

Exhibit 10.1

 

FORM OF SUBSCRIPTION AGREEMENT

 

This SUBSCRIPTION AGREEMENT
(this “Subscription Agreement”) is entered into on February 21, 2021, by and between NextGen Acquisition Corporation,
a Cayman Islands exempted company (“NextGen”), and the undersigned subscriber (the “Investor”).

 

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

 

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

 

WHEREAS, in connection with
the Transaction, NextGen is seeking commitments from interested investors to purchase, following the Domestication and prior to the closing
of the Transaction, shares of NextGen’s Class A common stock, par value $0.0001 per share, as such shares will exist as common
stock following the Domestication (the “Shares”), in a private placement for a purchase price of $10.00 per share (the
“Per Share Subscription Price”);

 

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

 

WHEREAS, substantially concurrently
with the execution of this Subscription Agreement, NextGen is entering into: (a) separate subscription agreements with certain other
investors that may include existing directors, officers or securityholders (including, for the avoidance of doubt, holders of convertible
securities) of NextGen, NextGen Sponsor LLC, a Cayman Islands limited liability company, the Company and/or their respective affiliates
with an aggregate purchase price of $500,000 (collectively, the “Insider PIPE Investors” and, such investment, the
“Insider PIPE Investment”) substantially similar to this Subscription Agreement; and (b) separate subscription
agreements (collectively, the “Other Subscription Agreements”) substantially similar to this Subscription Agreement
with certain investors (other than the Insider PIPE Investors) with an aggregate purchase price of $219,500,000 (inclusive of the Subscription
Amount) (together with the Insider PIPE Investment, the “PIPE Investment”).

 

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

 

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

 

     

     

    

 

2. Closing. The
closing of the sale of the Shares contemplated hereby (the “Closing”) shall occur on the closing date of the
Transaction (the “Closing Date”) and be conditioned upon the prior or substantially concurrent consummation of
the Transaction and satisfaction of the other conditions set forth in Section 3 hereof. Upon delivery of written notice
from (or on behalf of) NextGen to the Investor (the “Closing Notice”), that NextGen reasonably expects all
conditions to the closing of the Transaction to be satisfied or waived on an expected closing date that is not less than five (5)
business days from the date on which the Closing Notice is delivered to the Investor, the Investor shall deliver to NextGen, one (1)
business day prior to the expected closing date specified in the Closing Notice (or such other date agreed to in writing by
NextGen), the Subscription Amount by wire transfer of United States dollars in immediately available funds to the account(s)
specified by NextGen in the Closing Notice. On the Closing Date, NextGen shall issue the Shares to the Investor and subsequently
cause the Shares to be registered in book-entry form in the name of the Investor on NextGen’s share register. For purposes of
this Subscription Agreement, “business day” shall mean a day, other than a Saturday, Sunday or other day on which
commercial banks in New York, New York or governmental authorities in the Cayman Islands (for so long as NextGen remains
domiciled in Cayman Islands) are authorized or required by law to close. Prior to or at the Closing Date, Investor shall deliver to
NextGen a duly completed and executed Internal Revenue Service Form W-9 or appropriate Form W-8. In the event the Closing
Date does not occur within two (2) business days after the expected closing date specified in the Closing Notice, NextGen shall
promptly (but not later than two (2) business days after the expected closing date specified in the Closing Notice) return the
Subscription Amount to the Investor by wire transfer of U.S. dollars in immediately available funds to the account specified by the
Investor, and any book-entries for the Shares shall be deemed cancelled; provided that, unless this Subscription Agreement
has been terminated pursuant to Section 8 hereof, such return of funds shall not terminate this Subscription Agreement
or relieve the Investor of its obligation to purchase the Shares at the Closing. For the avoidance of doubt, if any termination
hereof occurs after the delivery by the Investor of the Subscription Amount for the Shares and prior to the Closing, NextGen shall
promptly (but not later than three (3) business days thereafter) return the Purchase Price to Investor without any deduction for or
on account of any tax, withholding, charges or set-off.

 

3. Closing Conditions.
The obligation of the parties hereto to consummate the purchase and sale of the Shares pursuant to this Subscription Agreement is subject
to the satisfaction of the following conditions:

 

(a) there shall not be in force
any injunction or order enjoining or prohibiting the issuance and sale of the Shares under this Subscription Agreement;

 

(b) solely with respect to
the Investor’s obligation to close, the terms of the Transaction Agreement (including any minimum cash condition and the other conditions
thereto) shall not have been amended or waived in a manner that would reasonably be expected to materially and adversely affect the Investor,
without the consent of the Investor;

 

(c) all conditions precedent
to the closing of the Transaction as set forth in the Transaction Agreement, including all necessary approvals of NextGen’s shareholders
and regulatory approvals, if any, shall have been satisfied or waived (as determined by the parties to the Transaction Agreement and other
than those conditions that, by their nature, (x) may only 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 Shares pursuant to this Subscription Agreement
and the Other Subscription Agreements), but subject to the satisfaction or waiver of such conditions as of the Closing, or (y) will
be satisfied by the Closing and the closing of the transactions contemplated by the Other Subscription Agreements);

 

(d) (i) solely with respect
to the Investor’s obligation to close, the representations and warranties made by NextGen, and (ii) solely with respect to
NextGen’s obligation to close, the representations and warranties made by the Investor, in each case, in this Subscription Agreement
shall be true and correct in all material respects as of the Closing Date other than (x) those representations and warranties qualified
by materiality, Material Adverse Effect or similar qualification, which shall be true and correct in all respects as of the Closing Date
and (y) those representations and warranties expressly made as of an earlier date, which shall be true and correct in all material
respects (or, if qualified by materiality, Material Adverse Effect or similar qualification, all respects) as of such date, in each case
without giving effect to the consummation of the Transactions;

 

(e) solely with respect to
NextGen’s obligation to close, the Investor shall have wired the Subscription Amount in accordance with Section 2 of
this Subscription Agreement and otherwise performed or complied in all material respects all of its covenants and agreements contained
in this Subscription Agreement that are required to be performed or complied with by the Investor on or before the Closing Date;

 

(f) solely with respect to
the Investor’s obligation to close, NextGen shall have performed or complied in all material respects all of its covenants and agreements
contained in this Subscription Agreement that are required to be performed or complied with by NextGen on or before the Closing Date;
and

 

(g) no suspension of the qualification
of the Class A ordinary shares, par value $0.0001 per share, of NextGen (“Class A Shares”) for offering or
sale or trading on the Nasdaq Stock Market LLC (“Nasdaq”), and no initiation or threatening of any proceedings for
any of such purposes or delisting, shall have occurred, and the Shares shall be approved for listing on Nasdaq or the New York Stock
Exchange (“NYSE”), subject to official notice of issuance.

 

     

     

    

  

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

 

5. NextGen Representations,
Warranties and Agreements. NextGen represents and warrants to, and agrees with, the Investor that:

 

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

 

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

 

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

 

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

 

(e) As of their respective
filing dates, all reports required to be filed by NextGen with the U.S. Securities and Exchange Commission (the “SEC”)
since October 9, 2020 (the “SEC Reports”) complied in all material respects with the applicable requirements of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations of the SEC promulgated
thereunder and none of the SEC Reports, when filed, contained any untrue statement of material fact or omitted to state a material fact
required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not
misleading. The financial statements of NextGen included in the SEC Reports comply 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 position of NextGen 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. As of the date hereof, there
are no material outstanding or unresolved comments in comment letters received by NextGen from the staff of the Division of Corporation
Finance of the SEC with respect to any of the SEC Reports.

 

     

     

    

  

(f) Assuming the accuracy of
the Investor’s representations and warranties set forth in Section 6 of this Subscription Agreement, NextGen is not
required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or registration with, any court
or other federal, state, local or other governmental authority, self-regulatory organization or other person in connection with the issuance
of the Shares pursuant to this Subscription Agreement, other than (i) filings with the SEC, (ii) filings required by applicable
state securities laws, (iii) the filings required in accordance with Section 12 of this Subscription Agreement; (iv) those
required by the NYSE or Nasdaq, including with respect to obtaining approval of NextGen’s stockholders, and (v) the failure
of which to obtain would not be reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect or have a
material adverse effect on NextGen’s ability to consummate the transactions contemplated hereby, including the sale and issuance
of the Shares.

 

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

 

(h) As of the date hereof,
there is no (i) suit, action, claim, proceeding or arbitration before a governmental authority or arbitrator pending, or, to the
knowledge of NextGen, threatened against NextGen or (ii) judgment, decree, injunction, ruling or order of any governmental entity
or arbitrator outstanding against NextGen, except, in each case, for such matters as would not be reasonably expected to have, individually
or in the aggregate, a Material Adverse Effect.

 

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

 

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

 

(k) As of the date hereof,
the authorized share capital of NextGen consists of (i) 5,000,000 undesignated preferred shares, par value $0.0001 per share (“Preferred
Shares”), (ii) 500,000,000 Class A Shares and (iii) 50,000,000 Class B ordinary shares, par value $0.0001 per share
(“Class B Shares”). As of the date hereof: (1) no Preferred Shares are issued and outstanding, (2) 35,000,000
Class A Shares are issued and outstanding, (3) 8,750,000 Class B Shares are issued and outstanding and (4) 17,666,667
warrants, each entitling the holder thereof to purchase one Class A Share at an exercise price of $11.50 per Class A Share,
are outstanding.

 

(l) As of the date hereof,
the issued and outstanding Class A Shares are registered pursuant to Section 12(b) of the Exchange Act and are listed for trading
on Nasdaq. There is no suit, action, proceeding or investigation pending or, to the knowledge of NextGen, threatened against NextGen by
Nasdaq or the SEC with respect to any intention by such entity to deregister NextGen’s Class A Shares or prohibit or terminate
the listing of NextGen’s Class A Shares on Nasdaq. NextGen has taken no action that is designed to terminate the registration
of its Class A Shares under the Exchange Act. Following the Domestication, the Shares are expected to be registered for resale under
the Securities Act.

 

(m) Other than as set forth
in the Transaction Agreement, there are no securities or instruments issued by or to which NextGen is a party containing anti-dilution
or similar provisions that will be triggered by the issuance of (i) the Shares or (ii) the shares to be issued pursuant to any
Other Subscription Agreement that have not been or will not be validly waived on or prior to the Closing Date.

 

(n) NextGen is not under any
obligation to pay any broker’s fee or commission in connection with the sale of the Shares other than to the Placement Agent (as
defined below).

 

(o) The Other Subscription
Agreements reflect the same Per Share Subscription Price and other terms and conditions with respect to the purchase of the Shares that
are no more favorable to such subscriber thereunder than the terms of this Subscription Agreement, other than terms particular to the
regulatory requirements of such subscriber or its affiliates or related funds, and there is no side letter or other agreement that modifies
such Per Share Subscription Price and such other terms and conditions with respect to the purchase of the Shares. For the avoidance of
doubt, this

 

     

     

    

 

Section 5(o) shall not apply to any
document entered into in connection with the Insider PIPE Investment; provided, however, that such Insider PIPE Investment shall
be with respect to the same class of Shares being acquired by the Investor hereunder and at the same Per Share Subscription Price.

 

6. Investor Representations,
Warranties and Agreements. The Investor represents and warrants to, and agrees with, NextGen that:

 

(a) The Investor (i) is
a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act) or an institutional “accredited
investor” (within the meaning of Rule 501(a) (1), (2), (3) or (7) under the Securities Act), in each case, satisfying
the applicable requirements set forth on Schedule A, (ii) is acquiring the Shares only for his, her or its own account and
not for the account of others, or if the Investor is subscribing for the Shares as a fiduciary or agent for one or more investor accounts,
the Investor has full investment discretion with respect to each such account, and the full power and authority to make the acknowledgements,
representations and agreements herein on behalf of each owner of each such account, and (iii) is acquiring the Shares for investment
purposes only and is not acquiring the Shares with a view to, or for offer or sale in connection with, any distribution thereof in violation
of the Securities Act (and shall provide the requested information set forth on Schedule A). The Investor is not an entity formed
for the specific purpose of acquiring the Shares and the Investor is an “institutional account” as defined by FINRA Rule 4512(c).

 

(b) The Investor acknowledges
and agrees that the Shares are being offered in a transaction not involving any public offering within the meaning of the Securities Act,
that the Shares have not been registered under the Securities Act and that NextGen is not required to register the Shares except as set
forth in Section 7 of this Subscription Agreement. The Investor acknowledges and agrees that, unless the Shares are registered
pursuant to an effective registration statement under the Securities Act, the Shares may not be offered, resold, transferred, pledged
or otherwise disposed of by the Investor except (i) to NextGen or a subsidiary thereof, (ii) to non-U.S. persons pursuant to
offers and sales that occur outside the United States within the meaning of Regulation S under the Securities Act or (iii) pursuant
to another applicable exemption from the registration requirements of the Securities Act, and, in each case, in accordance with any applicable
securities laws of the states of the United States and other applicable jurisdictions, and that any certificates representing the
Shares shall contain a restrictive legend to the following effect:

 

(i)
THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR THE
SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION, AND MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN
EXEMPTION THEREFROM. THE HOLDER WILL NOTIFY ANY SUBSEQUENT PURCHASER OF THIS SECURITY FROM IT OF THE RESALE RESTRICTIONS REFERRED TO
ABOVE.

 

(c) The Investor acknowledges
and agrees that the Shares will be subject to these securities law transfer restrictions and, as a result of these transfer restrictions,
the Investor may not be able to readily offer, resell, transfer, pledge or otherwise dispose of the Shares and may be required to bear
the financial risk of an investment in the Shares for an indefinite period of time. The Investor acknowledges and agrees that it has been
advised to consult legal, tax and accounting prior to making any offer, resale, transfer, pledge or disposition of any of the Shares.

 

(d) The Investor acknowledges
and agrees that the Investor is purchasing the Shares from NextGen. The Investor further acknowledges that there have been no representations,
warranties, covenants and agreements made to the Investor by or on behalf of NextGen, the Company, any of their respective affiliates
or any control persons, officers, directors, employees, agents or representatives of any of the foregoing or any other person or entity
(including the Placement Agent), expressly or by implication, other than those representations, warranties, covenants and agreements of
NextGen expressly set forth in Section 5 of this Subscription Agreement and the investor presentation and materials provided
by NextGen to Investor, in making its investment or decision to invest in NextGen.

 

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

 

     

     

    

  

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

 

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

 

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

 

(i) Reserved.

 

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

 

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

 

(l) The execution, delivery
and performance by the Investor of this Subscription Agreement are within the powers of the Investor, have been duly authorized and will
not constitute or result in a breach or default under or conflict with any order, ruling or regulation of any court or other tribunal
or of any governmental commission or agency, or any agreement or other undertaking, to which the Investor is a party or by which the Investor
is bound, and, the Investor 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 has been duly authorized to execute the same, and, assuming
that this Subscription Agreement constitutes the valid and binding agreement of NextGen, 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.

 

     

     

    

 

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

 

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

 

(o) As of the date hereof,
the Investor does not have 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 NextGen; provided that in the case of an Investor that is a multi-managed
investment vehicle whereby separate portfolio managers manage separate portions of such Investor’s assets, the representation set
forth above shall only apply with respect to the portion of assets managed by the portfolio manager that made the investment decision
to purchase the Shares covered by this Subscription Agreement.

 

(p) No disclosure or offering
document has been prepared by Goldman Sachs & Co. LLC (the “Placement Agent”) or any of its affiliates in
connection with the offer and sale of the Shares.

 

(q) None of the Placement Agent,
any of its affiliates, or any control persons, officers, directors, employees, agents or representatives of any of the foregoing has made
any independent investigation with respect to NextGen, the Company or its subsidiaries or any of their respective businesses, or the Shares
or the accuracy, completeness or adequacy of any information supplied to the Investor by NextGen.

 

(r) In connection with the
issue and purchase of the Shares, neither the Placement Agent, nor any of its affiliates, has acted as the Investor’s financial
advisor or fiduciary.

 

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

 

(t) No broker’s or finder’s
fees or commissions will be payable by the Investor with respect to the transactions contemplated hereby.

 

     

     

    

 

(u) The Investor hereby
agrees that, from the date of this Subscription Agreement until the Closing Date (or earlier termination of this Subscription
Agreement), neither the Investor nor any person or entity acting on behalf of the Investor or pursuant to any understanding with the
Investor will engage in any Short Sales with respect to securities of NextGen. For purposes of this Section 6(u),
“Short Sales” shall mean all “short sales” as defined in Rule 200 promulgated under Regulation SHO
under the Exchange Act, and all short positions effected through any direct or 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), or sales or other short transactions through non-U.S. broker dealers or
foreign regulated brokers. 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
(including the Investor’s controlled affiliates and/or affiliates) from entering into any Short Sales and (b) in the case
of an Investor that is a multi-managed investment vehicle whereby separate portfolio managers manage separate portions of such the
Investor’s assets and the portfolio managers have no knowledge of the investment decisions made by the portfolio managers
managing other portions of such the Investor’s assets, the limitations set forth in the first sentence of this Section 6(u)
shall only apply with respect to the portion of assets managed by the portfolio manager that made the investment decision to
purchase the Shares covered by this Subscription Agreement.

 

7. Registration Rights.

 

(a) NextGen agrees that,
within fifteen (15) business days following the Closing Date (such deadline, the “Filing Deadline”), NextGen will
submit to or file with the SEC (at NextGen’s expense) a registration statement for a shelf registration on Form S-1,
Form S-3 (if NextGen is then eligible to use a Form S-3 shelf registration) or other appropriate form (the
“Registration Statement”), in each case, covering the resale of the Shares acquired by the Investor pursuant to
this Agreement which are eligible for registration (determined as of two (2) business days prior to such submission or filing) (the
“Registrable Shares”) and NextGen shall use its commercially reasonable efforts to have the Registration
Statement declared effective as soon as practicable after the filing thereof, but no later than the earlier of (i) the
60th calendar day following the filing date thereof if the SEC notifies NextGen that it will “review” the
Registration Statement and (ii) the 5th business day after the date NextGen is notified (orally or in writing,
whichever is earlier) by the SEC that the Registration Statement will not be “reviewed” or will not be subject to
further review (such earlier date, the “Effectiveness Deadline”); provided, however, that NextGen’s
obligations to include the Registrable Shares in the Registration Statement are contingent upon Investor furnishing in writing to
NextGen such information regarding Investor or its permitted assigns, the securities of NextGen held by Investor and the intended
method of disposition of the Registrable Shares (which shall be limited to non-underwritten public offerings) as shall be reasonably
requested by NextGen to effect the registration of the Registrable Shares, and Investor shall execute such documents in connection
with such registration as NextGen may reasonably request that are customary of a selling stockholder in similar situations,
including providing that NextGen shall be entitled to postpone and suspend the effectiveness or use of the Registration Statement,
if applicable, during any customary blackout or similar period or as permitted hereunder; provided that Investor shall not in
connection with the foregoing be required to execute any lock-up or similar agreement or otherwise be subject to any contractual
restriction on the ability to transfer the Registrable Shares. NextGen will use its commercially reasonable efforts to provide a
draft of the Registration Statement to Investor for review at least two (2) business days in advance of the date of filing the
Registration Statement with the SEC; provided that for the avoidance of doubt, in no event shall NextGen be required to delay
or postpone the filing of such Registration Statement as a result of or in connection with Investor’s review. For as long as
the Investor holds Shares, NextGen will use commercially reasonable efforts to file all reports for so long as the condition in
Rule 144(c)(1) (or Rule 144(i)(2), if applicable) is required to be satisfied, and provide all customary and reasonable
cooperation, necessary to enable the undersigned to resell the Shares pursuant to Rule 144 of the Securities Act (in each case,
when Rule 144 of the Securities Act becomes available to the Investor). Any failure by NextGen to file the Registration
Statement by the Filing Deadline or to effect such Registration Statement by the Effectiveness Deadline shall not otherwise relieve
NextGen of its obligations to file or effect the Registration Statement as set forth above in this Section 7.
Notwithstanding the foregoing, if the SEC prevents NextGen from including any or all of the 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 Shares by the
applicable stockholders or otherwise, such Registration Statement shall register for resale such number of Shares which is equal to
the maximum number of Shares as is permitted by the SEC. In such event, the number of Shares to be registered for each selling
stockholder named in the Registration Statement shall be reduced pro rata among all such selling stockholders and as promptly as
practicable after being permitted to register additional Registrable Shares under Rule 415 under the Securities Act, NextGen
shall amend the Registration Statement or file a new Registration Statement to register such Registrable Shares not included in the
initial Registration Statement and cause such amendment or Registration Statement to become effective as promptly as practicable. As
soon as is reasonably practicable upon notification by the SEC that the Registration Statement has been declared effective by the
SEC, NextGen shall file the final prospectus under Rule 424 of the Securities Act. 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 from the Registration Statement.

 

     

     

    

 

(b) At its expense NextGen
shall:

 

(i) except for such
times as NextGen is permitted hereunder to suspend the use of the prospectus forming part of a Registration Statement, use its commercially
reasonable efforts to keep such registration, and any qualification, exemption or compliance under state securities laws which NextGen
determines to obtain, continuously effective with respect to Investor, and to keep the applicable Registration Statement or any subsequent
shelf registration statement free of any material misstatements or omissions, until the earlier of the following: (A) Investor ceases
to hold any Registrable Shares, (B) the date all Registrable Shares held by Investor may be sold without restriction under Rule 144
promulgated under the Securities Act (“Rule 144”), including, without limitation, any volume and manner of sale
restrictions which may be applicable to affiliates under Rule 144, and (C) three (3) years from the date of effectiveness of
the Registration Statement;

 

(ii) advise Investor
within five (5) business days:

 

(1) when a Registration
Statement or any amendment thereto has been filed with the SEC and when such Registration Statement or any post-effective amendment thereto
has become effective;

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

(vi) cause NextGen’s
transfer agent to remove the legend set forth above in Section 6(b)(i), at the Investor’s request, as soon as reasonably
practicable after the Shares are sold pursuant to Rule 144 or the Registration Statement; and

 

     

     

    

  

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

 

(c) Notwithstanding anything
to the contrary in this Subscription Agreement, NextGen shall be entitled to delay the filing or effectiveness of, or suspend the use
of, the Registration Statement if it determines, upon the advice of external legal counsel, that in order for the Registration Statement
not to contain a material misstatement or omission, (i) an amendment thereto would be needed to include information that would at
that time not otherwise be required in a current, quarterly, or annual report under the Exchange Act, (ii) the negotiation or consummation
of a transaction by NextGen or its subsidiaries is pending or an event has occurred, which negotiation, consummation or event NextGen’s
board of directors reasonably believes would require additional disclosure by NextGen in the Registration Statement of material information
that NextGen has a bona fide business purpose for keeping confidential and the non-disclosure of which in the Registration Statement would
be expected, in the reasonable determination of NextGen’s board of directors to cause the Registration Statement to fail to comply
with applicable disclosure requirements, or (iii) in the good faith judgment of the majority of NextGen’s board of directors,
such filing or effectiveness or use of such Registration Statement, would be seriously detrimental to NextGen and the majority of the
NextGen board of directors concludes as a result that it is essential to defer such filing (each such circumstance, a “Suspension
Event”); provided, however, that NextGen may not delay or suspend the Registration Statement on more than two (2) occasions
or for more than sixty (60) consecutive calendar days, or more than ninety (90) total calendar days in each case during any twelve (12)
month period. Upon receipt of any written notice from NextGen of the happening of any Suspension Event during the period that the Registration
Statement is effective or if as a result of a Suspension Event the Registration Statement or related prospectus contains any untrue statement
of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein (in light
of the circumstances under which they were made, in the case of the prospectus) not misleading, Investor agrees that (i) it will
immediately discontinue offers and sales of the Registrable Shares under the Registration Statement (excluding, for the avoidance of doubt,
sales conducted pursuant to Rule 144) until Investor receives copies of a supplemental or amended prospectus (which NextGen agrees
to promptly prepare) that corrects the misstatement(s) or omission(s) referred to above and receives notice that any post-effective amendment
has become effective or unless otherwise notified by NextGen that it may resume such offers and sales, and (ii) it will maintain
the confidentiality of any information included in such written notice delivered by NextGen unless otherwise required by law or subpoena.
If so directed by NextGen, Investor will deliver to NextGen or, in Investor’s sole discretion destroy, all copies of the prospectus
covering the Registrable Shares in Investor’s possession; provided, however, that this obligation to deliver or destroy all
copies of the prospectus covering the Registrable Shares shall not apply (A) to the extent Investor is required to retain a copy
of such prospectus (1) in order to comply with applicable legal, regulatory, self-regulatory or professional requirements or (2) in
accordance with a bona fide pre-existing document retention policy or (B) to copies stored electronically on archival servers as
a result of automatic data back-up.

 

(d) The Investor may deliver
written notice (an “Opt-Out Notice”) to NextGen requesting that the Investor not receive notices from NextGen otherwise
required by Section 7; provided, however, that the Investor may later revoke any such Opt-Out Notice in writing. Following
receipt of an Opt-Out Notice from the Investor (unless subsequently revoked), (i) NextGen shall not deliver any such notices to the
Investor and the Investor shall no longer be entitled to the rights associated with any such notice and (ii) each time prior to the
Investor’s intended use of an effective Registration Statement, the Investor will notify NextGen in writing at least two (2) business
days in advance of such intended use, and if a notice of a Suspension Event was previously delivered (or would have been delivered but
for the provisions of this Section 7(d)) and the related suspension period remains in effect, NextGen will so notify the Investor,
within one (1) business day of the Investor’s notification to NextGen, by delivering to the Investor a copy of such previous notice
of Suspension Event, and thereafter will provide the Investor with the related notice of the conclusion of such Suspension Event immediately
upon its availability.

 

     

     

    

 

(e) Indemnification.

 

(i) NextGen
agrees to indemnify, to the extent permitted by law, Investor (to the extent a seller under the Registration Statement), its
directors, officers, partners, managers, members, investment advisors, employees, stockholders, agents and each person who controls
Investor (within the meaning of the Securities Act), to the extent permitted by law, against all losses, claims, damages,
liabilities and reasonable and documented out of pocket expenses (including, without limitation, reasonable and documented
attorneys’ fees of one law firm and one local counsel in each applicable jurisdiction) caused by any untrue or alleged untrue
statement of material fact contained in any Registration Statement, prospectus included in any Registration Statement
(“Prospectus”) or preliminary Prospectus or any amendment thereof or supplement thereto or any omission or
alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of a
Prospectus, in the light of the circumstances under which they were made) not misleading, except insofar as the same are caused by
or contained in any information or affidavit so furnished in writing to NextGen by or on behalf of such Investor expressly for use
therein or such Investor has omitted a material fact from such information or otherwise violated the Securities Act, Exchange Act or
any state securities law or any other law, rule or regulation thereunder; provided, however, that the indemnification
contained in this Section 7(e)(i) shall not apply to amounts paid in settlement of any losses, claims, damages,
liabilities and out of pocket expenses if such settlement is effected without the consent of NextGen (which consent shall not be
unreasonably withheld, conditioned or delayed), nor shall NextGen be liable for any losses, claims, damages, liabilities and out of
pocket expenses to the extent they arise out of or are based upon a violation which occurs (A) in reliance upon and in
conformity with written information furnished by an Investor expressly for use in the Prospectus, (B) in connection with any
failure of such person to deliver or cause to be delivered a prospectus made available by NextGen in a timely manner, (C) as a
result of offers or sales effected by or on behalf of any person by means of a “free writing prospectus” (as defined in
Rule 405 under the Securities Act) that was not authorized in writing by NextGen, or (D) in connection with any offers or
sales effected by or on behalf of an Investor in violation of Section 7(c) hereof.

 

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

 

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

 

     

     

    

  

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

 

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

 

8. Termination. This
Subscription Agreement shall terminate and be void and of no further force and effect, and all rights and obligations of the parties hereunder
shall terminate without any further liability on the part of any party in respect thereof, upon the earliest to occur of (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, (c) if the conditions to Closing set forth in Section 3
of this Subscription Agreement are not satisfied, or are not capable of being satisfied, on or prior to the Closing and, as a result thereof,
the transactions contemplated by this Subscription Agreement will not be or are not consummated at the Closing and (d) August 21,
2021; provided that nothing herein will relieve any party from liability for any willful breach hereof prior to the time of termination,
and each party will be entitled to any remedies at law or in equity to recover reasonable and documented out-of-pocket losses, liabilities
or damages arising from any such willful breach. NextGen shall notify the Investor of the termination of the Transaction Agreement promptly
after the termination of such agreement. Upon the termination of this Subscription Agreement in accordance with this Section 8,
any monies paid by the Investor to NextGen in connection herewith shall be promptly (and in any event within one (1) business day after
such termination) returned to the Investor.

 

9. Trust Account
Waiver. The Investor acknowledges that NextGen is a blank check company with the powers and privileges to effect a merger, asset
acquisition, reorganization or similar business combination involving NextGen and one or more businesses or assets. The Investor
further acknowledges that, as described in NextGen’s prospectus relating to its initial public offering dated October 6, 2020
(the “IPO Prospectus”) available at www.sec.gov, substantially all of NextGen’s assets consist of
the cash proceeds of NextGen’s initial public offering and private placement of its securities, and substantially all of those
proceeds have been deposited in a trust account (the “Trust Account”) for the benefit of NextGen, its public
shareholders and the underwriter of NextGen’s initial public offering. Except with respect to interest earned on the funds
held in the Trust Account that may be released to NextGen to pay its tax obligations, if any, the cash in the Trust Account may be
disbursed only for the purposes set forth in the IPO Prospectus. For and in consideration of NextGen entering into this Subscription
Agreement, the receipt and sufficiency of which are hereby acknowledged, the Investor hereby irrevocably waives any and all right,
title and interest, or any claim of any kind it has or may have in the future, in or to any monies held in the Trust Account, and
agrees not to seek recourse against the Trust Account as a result of, or arising out of, this Subscription Agreement; provided
that nothing in this Section 9 shall (x) serve to limit or prohibit the Investor’s right to pursue a claim
against NextGen for legal relief against assets held outside the Trust Account (so long as such claim would not affect
NextGen’s ability to fulfill its obligation to effectuate any redemption right with respect to any securities of NextGen), for
specific performance or other equitable relief, (y) serve to limit or prohibit any claims that the Investor may have in the
future against NextGen’s assets or funds that are not held in the Trust Account (including any funds that have been released
from the Trust Account and any assets that have been purchased or acquired with any such funds) (so long as such claim would not
affect NextGen’s ability to fulfill its obligation to effectuate any redemption right with respect to any securities of
NextGen) or (z) be deemed to limit the Investor’s right, title, interest or claim to the Trust Account by virtue of the
Investor’s record or beneficial ownership of Shares of NextGen acquired by any means other than pursuant to this Subscription
Agreement.

 

     

     

    

 

10. Miscellaneous.

 

(a) Neither this Subscription
Agreement nor any rights that may accrue to the Investor hereunder (other than the Shares acquired hereunder, if any) may be transferred
or assigned, other than (i) by prior written consent from NextGen or (ii) an assignment to one or more controlled affiliates,
including any fund or account managed by the same investment manager as the Investor or a controlled affiliate thereof, without prior
written consent of NextGen, subject to, if such transfer or assignment is prior to the Closing, such transferee or assignee, as applicable,
executing a joinder to this Subscription Agreement or a separate subscription agreement in substantially the same form as this Subscription
Agreement, including with respect to the Subscription Amount and other terms and conditions; provided that, in the case of any
such transfer or assignment, the initial party to this Subscription Agreement shall remain bound by its obligations under this Subscription
Agreement in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase
of Shares contemplated hereby. Neither this Subscription Agreement nor any rights that may accrue to NextGen hereunder or any of NextGen’s
obligations may be transferred or assigned other than pursuant to the Transaction.

 

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

 

(c) The Investor acknowledges
that NextGen and the Placement Agent (as a third-party beneficiary with the right to enforce Section 4, Section 5,
Section 6, Section 10, and Section 11 hereof on their own behalf and not, for the avoidance of doubt,
on behalf of NextGen) will rely on the acknowledgments, understandings, agreements, covenants, representations and warranties of the Investor
contained in this Subscription Agreement. Prior to the Closing, the Investor agrees to promptly notify NextGen and the Placement Agent
if any of the acknowledgments, understandings, agreements, representations and warranties of the Investor set forth herein are no longer
accurate.

 

(d) NextGen acknowledges that
the Investor and the Placement Agent (as a third-party beneficiary with the right to enforce Section 4, Section 5,
Section 6, Section 10, and Section 11 hereof on their own behalf and not, for the avoidance of doubt,
on behalf of the Investor) will rely on the acknowledgments, understandings, agreements, covenants, representations and warranties of
NextGen contained in this Subscription Agreement. Prior to the Closing, NextGen agrees to promptly notify the Investor and the Placement
Agent if any of the acknowledgments, understandings, agreements, representations and warranties of NextGen set forth herein are no longer
accurate.

 

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

 

(f) All of the representations
and warranties contained in this Subscription Agreement shall survive the Closing. All of the covenants and agreements made by each party
in this Subscription Agreement shall survive the Closing until the applicable statute of limitations or in accordance with their respective
terms, if a shorter period.

 

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

 

     

     

    

 

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

 

(i) 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.

 

(j) 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.

 

(k) Each party shall pay all
of its own expenses in connection with this Subscription Agreement and the transactions contemplated hereby.

 

(l) The obligations of the
Investor under this Subscription Agreement are several and not joint with the obligations of 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 any
Other Subscription Agreement. The decision of the Investor to purchase the Shares pursuant to this Subscription Agreement has been made
by the Investor independently of any other investor and independently of any information, materials, statements opinions as to the business,
affairs, operations, assets, properties, liabilities, results of operations, condition (financial or otherwise) or prospects of NextGen,
the Company or any of their respective subsidiaries which may have been made or given by any other investor or by any agent or employee
of any other investor, and neither the Investor nor any of its agents or employees shall have any liability to any other investor relating
to or arising from any such information, materials, statements or opinions. Nothing contained herein or in any Other Subscription Agreement,
and no action taken by the Investor or any other investor pursuant hereto or thereto, shall be deemed to constitute the Investor and any
other investor as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Investor
and any other investor are in any way acting in concert or as a “group” (within the meaning of Section 13(d) of the Exchange
Act) with respect to such obligations or the transactions contemplated by this Subscription Agreement and the Other Subscription Agreements.
The Investor acknowledges that no other investor has acted as agent for the Investor in connection with making its investment hereunder
and no other investor will be acting as agent of the Investor in connection with monitoring its investment in the Shares or enforcing
its rights under this Subscription Agreement.

 

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

 

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

 

(o) THE PARTIES HERETO IRREVOCABLY
SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE COURT OF CHANCERY OF THE STATE OF DELAWARE (OR, TO THE EXTENT SUCH COURT DOES NOT HAVE SUBJECT
MATTER JURISDICTION, THE SUPERIOR COURT OF THE STATE OF DELAWARE, OR THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF DELAWARE) SOLELY
IN RESPECT OF THE

 

     

     

    

 

INTERPRETATION AND ENFORCEMENT OF THE PROVISIONS
OF THIS SUBSCRIPTION AGREEMENT AND THE DOCUMENTS REFERRED TO IN THIS SUBSCRIPTION AGREEMENT AND IN RESPECT OF THE TRANSACTIONS CONTEMPLATED
HEREBY, AND HEREBY WAIVE, AND AGREE NOT TO ASSERT, AS A DEFENSE IN ANY ACTION, SUIT OR PROCEEDING FOR INTERPRETATION OR ENFORCEMENT HEREOF
OR ANY SUCH DOCUMENT THAT IS NOT SUBJECT THERETO OR THAT SUCH ACTION, SUIT OR PROCEEDING MAY NOT BE BROUGHT OR IS NOT MAINTAINABLE IN
SAID COURTS OR THAT VENUE THEREOF MAY NOT BE APPROPRIATE OR THAT THIS SUBSCRIPTION AGREEMENT OR ANY SUCH DOCUMENT MAY NOT BE ENFORCED
IN OR BY SUCH COURTS, AND THE PARTIES HERETO IRREVOCABLY AGREE THAT ALL CLAIMS WITH RESPECT TO SUCH ACTION, SUIT OR PROCEEDING SHALL BE
HEARD AND DETERMINED BY SUCH A DELAWARE STATE OR FEDERAL COURT. THE PARTIES HEREBY CONSENT TO AND GRANT ANY SUCH COURT JURISDICTION OVER
THE PERSON OF SUCH PARTIES AND OVER THE SUBJECT MATTER OF SUCH DISPUTE AND AGREE THAT MAILING OF PROCESS OR OTHER PAPERS IN CONNECTION
WITH SUCH ACTION, SUIT OR PROCEEDING IN THE MANNER PROVIDED IN THIS SECTION 10(o) OF THIS SUBSCRIPTION AGREEMENT OR IN SUCH OTHER
MANNER AS MAY BE PERMITTED BY LAW SHALL BE VALID AND SUFFICIENT SERVICE THEREOF. THIS SUBSCRIPTION AGREEMENT SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF DELAWARE, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS THAT WOULD OTHERWISE
REQUIRED THE APPLICATION OF THE LAW OF ANY OTHER STATE.

 

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

 

11. Non-Reliance and
Exculpation. The Investor acknowledges and agrees that: (i) it is not relying upon, and has not relied upon, any statement,
representation or warranty made by any person, firm or corporation (including, without limitation, the Placement Agent, any of its
affiliates or any control persons, officers, directors, employees, partners, agents or representatives of any of the foregoing),
other than the statements, covenants, representations and warranties of NextGen expressly contained in Section 5 of this
Subscription Agreement, in making its investment or decision to invest in NextGen; (ii) the Placement Agent is acting solely as
placement agent in connection with the Subscription and is not acting as an underwriter or in any other capacity and is not and
shall not be construed as a fiduciary for the Investor or any other person or entity in connection with the Subscription;
(iii) none of the Placement Agent, any of its affiliates or any control persons, officers, directors, employees, partners,
agents or representatives of any of the foregoing have made, or will make, any (a) representation or warranty, whether express
or implied, of any kind or character and have not provided, and will not provide, any advice or recommendation in connection with
the Subscription or (b) independent investigation with respect to NextGen, the Company or the Shares or the accuracy,
completeness or adequacy of any information supplied to the Investor by NextGen and (iv) the Placement Agent has not prepared a
disclosure or offering document in connection with the offer and sale of the Shares. The Investor acknowledges and agrees that none
of (i) any other investor pursuant to this Subscription Agreement or any other subscription agreement related to the private
placement of the Shares (including the investor’s respective affiliates or any control persons, officers, directors,
employees, partners, agents or representatives of any of the foregoing), (ii) the Placement Agent, its affiliates or any
control persons, officers, directors, employees, partners, agents or representatives of any of the foregoing, in each case, absent
their own gross negligence, fraud or willful misconduct, (iii) any other party to the Transaction Agreement (other than
NextGen), or (iv) any affiliates, or any control persons, officers, directors, employees, partners, agents or representatives
of any of NextGen, the Company or any other party to the Transaction Agreement shall be liable to the Investor, or to any other
investor, pursuant to this Subscription Agreement or any other subscription agreement related to the private placement of the
Shares, the negotiation hereof or thereof or the subject matter hereof or thereof, or the transactions contemplated hereby or
thereby, for any action heretofore or hereafter taken or omitted to be taken by any of them in connection with the purchase of the
Shares. On behalf of itself and its affiliates, the Investor releases the Placement Agent in respect of any losses, claims, damages,
obligations, penalties, judgments, awards, liabilities, costs, expenses or disbursements related to this Subscription Agreement or
the transactions contemplated hereby, in each case, absent their own gross negligence, fraud or willful misconduct.

 

     

     

    

 

12. Press Releases; Publicity.
NextGen shall, by 5:30 p.m., New York City time, on or before the business day immediately following the date of this Subscription
Agreement, issue one or more press releases or furnish or file with the SEC a Current Report on Form 8-K (collectively, the “Disclosure
Document”) disclosing, to the extent not previously publicly disclosed, the PIPE Investment, all material terms of the Transaction
and any other material, non-public information that NextGen has provided to the Investor at any time prior to the filing of the Disclosure
Document. From and after the disclosure of the Disclosure Document, the Investor shall not be in possession of any material, non-public
information received from NextGen, the Company or any of their agents, officers, directors or employees and the Investor shall no longer
be subject to any confidentiality or similar obligations under any current agreement, whether written or oral, with NextGen or any of
its affiliates or agents relating to the transactions contemplated by this Subscription Agreement. All press releases, marketing materials
or other public communications or disclosures relating to the transactions contemplated hereby between NextGen and the Investor, and the
method of the release for publication thereof, shall be subject to the prior written approval of (i) NextGen, and (ii) to the
extent such press release or public communication or disclosure of the name of the Investor or any of its affiliates or investment advisers,
the Investor; provided that neither NextGen nor the Investor shall be required to obtain consent pursuant to this Section 12
to the extent any proposed release or statement is substantially equivalent to the information that has previously been made public without
breach of the obligation under this Section 12. The restriction in this Section 12 shall not apply to the extent
the public announcement or disclosure is required by applicable securities law (including in connection with the Registration Statement),
any governmental authority or stock exchange rule; provided that in such an event, the applicable party shall consult with the
other party in advance as to its form, content and timing.

 

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

 

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

 

If to NextGen, to:

 

NextGen Acquisition Corporation

2255 Glades Road, Suite 324A

Boca Raton, Florida 33431

Attention:        Patrick Ford

Email:              pford@nextgenacq.com

 

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

 

Skadden, Arps, Slate, Meagher& Flom LLP

One Manhattan West

New York, New York 10001

Attention:        Howard L. Ellin

David J. Goldschmidt

June S. Dipchand

Email:              howard.ellin@skadden.com

david.goldschmidt@skadden.com

june.dipchand@skadden.com

 

     

     

    

  

and

 

Xos, Inc.

3550 Tyburn St., Suite 100

Los Angeles, CA 90065

Attention:        Kingsley Afemikhe

Christen Romero

Email:              [*]

[*]

 

and

 

Cooley LLP

1333 2nd Street Suite 400

Santa Monica, CA 90401

Attention:        Dave Young

 

David Peinsipp

Kristin VanderPas

Garth Osterman

 

Email:              dyoung@cooley.com

 

dpeinsipp@cooley.com

kvanderpas@cooley.com

gosterman@cooley.com

 

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

 

[SIGNATURE PAGES FOLLOW]

 

     

     

    

  

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

 

	Name of Investor:	 	State/Country of Formation or Domicile:
	By: __________________	 	 
	Name: __________________	 	 
	Title: __________________	 	 
	Name in which Shares are to be registered (if different):	 	Date: ________, 2021
	Investor’s EIN:	 	 
	Business Address-Street:	 	Mailing Address-Street (if different):
	City, State, Zip:	 	City, State, Zip:
	Attn:__________________	 	Attn: __________________
	Telephone No.:	 	Telephone No.:
	Facsimile No.:	 	Facsimile No.:
	Number of Shares subscribed for:	 	 
	Aggregate Subscription Amount: $	 	Price Per Share: $10.00

 

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

 

[Signature Page to Subscription Agreement]

  

     

     

    

 

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

 

	 	NEXTGEN ACQUISITION CORPORATION
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

Date:           ,
2021

 

[Signature Page to Subscription Agreement]

 

     

     

    

  

SCHEDULE A

 

ELIGIBILITY REPRESENTATIONS OF THE INVESTOR

 

	A.	QUALIFIED INSTITUTIONAL BUYER STATUS
	 	 
	 	(Please check the applicable subparagraphs):
	☐	We are a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act).
	 	 
	B.	INSTITUTIONAL ACCREDITED INVESTOR STATUS
	 	(Please check the applicable subparagraphs):
	 	 
	1.	☐ We are an institutional “accredited investor” (within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act) or an entity in which all of the equity holders are accredited investors within the meaning of Rule 501(a) under the Securities Act, and have marked and initialed the appropriate box on the following page indicating the provision under which we qualify as an “accredited investor.”
	 	 
	2.	☐ We are not a natural person.

 

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

 

	☐	Any bank, registered broker or dealer, insurance company, registered investment company, business development company, or small business investment company;
	 	 
	☐	Any plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political subdivisions for the benefit of its employees, if such plan has total assets in excess of $5,000,000;
	 	 
	☐	Any employee benefit plan, within the meaning of the Employee Retirement Income Security Act of 1974, if a bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5,000,000;
	 	 
	☐	Any organization described in Section 501(c)(3) of the Internal Revenue Code, corporation, similar business trust, or partnership, not formed for the specific purpose of acquiring the securities offered, with total assets in excess of $5,000,000; or
	 	 
	☐	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.

  

This page should be completed by the Investor

and constitutes a part of the Subscription Agreement.

 

[Schedule A to Subscription Agreement]Exhibit 10.2

 

AMENDED AND RESTATED

REGISTRATION RIGHTS AGREEMENT

 

THIS AMENDED AND RESTATED REGISTRATION
RIGHTS AGREEMENT (this “Agreement”), dated as
of August 20, 2021, is made and entered into by and among (i) Xos, Inc., a Delaware corporation (the “Company”)
(formerly known as NextGen Acquisition Corporation, a Cayman Islands exempted company limited by shares prior to its domestication as
a Delaware corporation); (ii) NextGen Sponsor LLC, a Cayman Islands limited liability company (the “Sponsor”)
and (iii) certain former stockholders of Xos Fleet, Inc. (formerly known as Xos, Inc.), a Delaware corporation (“Xos”)
set forth on Schedule I hereto (the “Xos Holders”
and, together with the Sponsor and any person or entity who hereafter becomes a party to this Agreement pursuant to Section 5.2
or Section 5.10 of this Agreement, the “Holders”
and each, a “Holder”).

 

RECITALS

 

WHEREAS, the Company
and the Sponsor are party to that certain Registration Rights Agreement, dated as of October 6, 2020 (the “Original
RRA”);

 

WHEREAS, the Company
and certain of the Xos Holders are party to that certain Amended and Restated Investors’ Rights Agreement, dated as of December
31, 2020 (the “IRA”);

 

WHEREAS, the Company
has entered into that certain Agreement and Plan of Merger, dated as of February 21, 2021, (as it may be amended or supplemented from
time to time, the “Merger Agreement”), by and
among the Company, Xos and the other parties thereto;

 

WHEREAS, on the date
hereof, pursuant to the Merger Agreement, the Xos Holders received shares of the Company’s common stock, par value $0.0001 per share
(the “Common Stock”);

 

WHEREAS, on the date
hereof, certain investors (such investors, collectively, the “PIPE Investors”) purchased shares of Common Stock
(the “Investor Shares”) in a transaction exempt from registration under the Securities Act pursuant to the respective
Subscription Agreement, each dated as of February 21, 2021, entered into by and between the Company and each of the PIPE Investors (each,
a “Subscription Agreement” and, collectively,
the “Subscription Agreements”);

 

WHEREAS, pursuant to
Section 5.5 of the Original RRA, the provisions, covenants and conditions set forth therein may be amended or modified upon the written
consent of the Company and the Holders (as defined in the Original RRA) of at least a majority-in-interest of the Registrable Securities
(solely with respect to this paragraph, as defined in the Original RRA) at the time in question, and the Sponsor is a Holder in the aggregate
of at least a majority-in-interest of the Registrable Securities as of the date hereof;

 

WHEREAS, pursuant
to the IRA, any term of the IRA (other than Sections 3.1, 3.2, 3.3 and 3.4 thereof) may be amended only with the written consent of
the Company (as successor in interest to Xos) and the Investors (as defined in the IRA) holding a majority of the Registrable
Securities (solely with respect to this paragraph, as defined in the IRA) and the provisions of Sections 3.1, 3.2, 3.3 and 3.4
thereof may be amended only with the written consent of the Company and the Major Investors (as defined in the IRA) holding a
majority of the Registrable Securities held by all of the Major Investors, and the Xos Holders are Investors and Major Investors, as
applicable, holding a majority of the Registrable Securities held by Investors and Major Investors, as applicable, as of the date
hereof; and

 

WHEREAS, the Company,
the Sponsor, and the Xos Holders desire to amend and restate the Original RRA and the IRA, as applicable, in their entirety and enter
into this Agreement, pursuant to which the Company shall grant the Holders certain registration rights with respect to certain securities
of the Company, as set forth in this Agreement.

 

NOW, THEREFORE,
in consideration of the representations, covenants and agreements contained herein, and certain other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

 

     

     

    

 

ARTICLE
I

DEFINITIONS

 

1.1 Definitions. The terms defined in this Article I shall, for all purposes of this Agreement, have the respective
meanings set forth below:

 

“Additional
Holder” shall have the meaning given in Section 5.10.

 

“Additional
Holder Common Stock” shall have the meaning given in Section 5.10.

 

“Adverse
Disclosure” shall mean any public disclosure of material non-public information, which disclosure, in the good faith
judgment of the Chief Executive Officer or the Chief Financial Officer of the Company, after consultation with counsel to the Company,
(i) would be required to be made in any Registration Statement or Prospectus in order for the applicable Registration Statement or
Prospectus not to contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements contained
therein (in the case of any prospectus and any preliminary prospectus, in the light of the circumstances under which they were made) not
misleading, (ii) would not be required to be made at such time if the Registration Statement were not being filed, declared effective
or used, as the case may be, and (iii) the Company has a bona fide business purpose for not making such information public.

 

“Agreement”
shall have the meaning given in the Preamble hereto.

 

“Block
Trade” shall mean an underwritten registered offering not involving a “roadshow,” an offer commonly known
as a “block trade”.

 

“Board”
shall mean the Board of Directors of the Company.

 

“Closing”
shall have the meaning given in the Merger Agreement.

 

“Closing
Date” shall have the meaning given in the Merger Agreement.

 

“Commission”
shall mean the Securities and Exchange Commission.

 

“Common
Stock” shall have the meaning given in the Recitals hereto.

 

“Company”
shall have the meaning given in the Preamble hereto and includes the Company’s successors by recapitalization, merger, consolidation,
spin-off, reorganization or similar transaction.

 

“Competing
Registration Rights” shall have the meaning given in Section 5.7.

 

“Demanding
Holder” shall have the meaning given in Section 2.1.4.

 

“Exchange
Act” shall mean the Securities Exchange Act of 1934, as it may be amended from time to time.

 

“Form
S-1 Shelf” shall have the meaning given in Section 2.1.1.

 

“Form
S-3 Shelf” shall have the meaning given in Section 2.1.1.

 

“Holder
Information” shall have the meaning given in Section 4.1.2.

 

“Holders”
shall have the meaning given in the Preamble hereto, for so long as such person or entity holds any Registrable Securities.

 

“Insider Letter”
means that certain letter agreement, dated as of October 6, 2020, by and among Company, the Sponsor and each of the other parties thereto.

 

“Investor
Shares” shall have the meaning given in the Recitals hereto.

 

“Joinder”
shall have the meaning given in Section 5.10.

 

    2

     

    

 

“Lock-Up Agreement”
shall mean (i) with respect to the Xos Holders, the lock-up agreement in the form attached to the Merger Agreement, to be executed by
each of the Xos Holders and (ii) with respect to the Sponsor, the letter agreement, dated October 6, 2020 by and among the Company, the
Sponsor and the other parties thereto.

 

“Maximum
Number of Securities” shall have the meaning given in Section 2.1.5.

 

“Merger
Agreement” shall have the meaning given in the Recitals hereto.

 

“Minimum
Takedown Threshold” shall have the meaning given in Section 2.1.4.

 

“Misstatement”
shall mean an untrue statement of a material fact or an omission to state a material fact required to be stated in a Registration Statement
or Prospectus or necessary to make the statements in a Registration Statement or Prospectus (in the case of a Prospectus, in the light
of the circumstances under which they were made) not misleading.

 

“Original
RRA” shall have the meaning given in the Recitals hereto.

 

“Other Coordinated
Offering” shall mean an “at the market” or similar registered offering through a broker, sales agent or distribution
agent, whether as agent or principal.

 

“Permitted
Transferees” shall mean (a) with respect to the Sponsor and its Affiliates, any Xos Holder and their respective Permitted
Transferees, (i) prior to the expiration of the applicable Lock-up Agreement, any person or entity to whom such Holder is permitted to
transfer such Registrable Securities prior to the expiration of such Lock-Up Agreement and (ii) after the expiration of the applicable
Lock-Up Agreement, any person or entity to whom such Holder is permitted to transfer such Registrable Securities, subject to and in accordance
with any applicable agreement between such Holder and/or their respective Permitted Transferees and the Company and any transferee thereafter,
and (b) with respect to all other Holders and their respective Permitted Transferees, any person or entity to whom such Holder of Registrable
Securities is permitted to transfer such Registrable Securities, subject to and in accordance with any applicable agreement between such
Holder and/or their respective Permitted Transferees and the Company and any transferee thereafter.

 

“Piggyback
Registration” shall have the meaning given in Section 2.2.1.

 

“PIPE
Investors” shall have the meaning given in the Recitals hereto.

 

“Prospectus”
shall mean the prospectus included in any Registration Statement, as supplemented by any and all prospectus supplements and as amended
by any and all post-effective amendments and including all material incorporated by reference in such prospectus.

 

“Registrable
Security” shall mean (a) any outstanding shares of Common Stock or any other equity security (including
warrants to purchase shares of Common Stock and shares of Common Stock issued or issuable upon the exercise of any other equity
security) of the Company held by a Holder immediately following the Closing (including any securities distributable pursuant to the
Merger Agreement and any Investor Shares); (b) any outstanding shares of Common Stock or any other equity security (including
warrants to purchase shares of Common Stock and shares of Common Stock issued or issuable upon the exercise of any other equity
security) of the Company acquired by a Holder following the date hereof to the extent that such securities are “restricted
securities” (as defined in Rule 144) or are otherwise held by an “affiliate” (as defined in Rule 144) of the
Company; (c) any Additional Holder Common Stock; and (d) any other equity security of the Company or any of its subsidiaries
issued or issuable with respect to any securities referenced in clause (a), (b) or (c) above by way of a stock dividend or
stock split or in connection with a recapitalization, merger, consolidation, spin-off, reorganization or similar transaction; provided,
however, that, as to any particular Registrable Security, such securities shall cease to be Registrable Securities upon the
earliest to occur of: (A) a Registration Statement with respect to the sale of such securities shall have become effective
under the Securities Act and such securities shall have been sold, transferred, disposed of or exchanged in accordance with such
Registration Statement by the applicable Holder; (B)(i) such securities shall have been otherwise transferred, (ii) new
certificates for such securities not bearing (or book-entry positions not subject to) a legend restricting further transfer shall
have been delivered by the Company and (iii) subsequent public distribution of such securities shall not require registration under
the Securities Act; (C) such securities shall have ceased to be outstanding; (D) such securities may be sold by the holder
thereof without registration pursuant to Rule 144 or any successor rule promulgated under the Securities Act (but with no volume or
other restrictions or limitations including as to manner or timing of sale), if such holder then holds less than 5% of the
Company’s outstanding Common Stock on an as-converted basis; (E) such securities have been sold without registration
pursuant to Section 4(a)(1) of the Securities Act or Rule 145 promulgated under the Securities Act or any successor rules
promulgated under the Securities Act; and (F) such securities have been sold to, or through, a broker, dealer or underwriter in a
public distribution or other public securities transaction.

 

“Registration”
shall mean a registration, including any related Shelf Takedown, effected by preparing and filing a registration statement, Prospectus
or similar document in compliance with the requirements of the Securities Act, and the applicable rules and regulations promulgated thereunder,
and such registration statement becoming effective.

 

    3

     

    

 

“Registration
Expenses” shall mean the documented, out-of-pocket expenses of a Registration, including, without limitation, the
following:

 

(A) all registration and filing fees (including fees with respect to filings required to be made with the Financial Industry Regulatory
Authority, Inc.) and any national securities exchange on which the Common Stock is then listed;

 

(B) fees
and expenses of compliance with securities or blue sky laws (including reasonable fees and disbursements of outside counsel for the
Underwriters in connection with blue sky qualifications of Registrable Securities);

 

(C) printing, messenger, telephone and delivery expenses;

 

(D) reasonable fees and disbursements of counsel for the Company;

 

(E) reasonable fees and disbursements of all independent registered public accountants of the Company incurred specifically in connection
with such Registration; and

 

(F) in an Underwritten Offering, reasonable fees and expenses of one (1) legal counsel selected by the majority-in-interest of the
Demanding Holders.

 

“Registration
Statement” shall mean any registration statement that covers Registrable Securities pursuant to the provisions of
this Agreement, including the Prospectus included in such registration statement, amendments (including post-effective amendments) and
supplements to such registration statement, and all exhibits to and all material incorporated by reference in such registration statement.

 

“Requesting
Holders” shall have the meaning given in Section 2.1.5.

 

“Securities
Act” shall mean the Securities Act of 1933, as amended from time to time.

 

“Shelf”
shall mean the Form S-1 Shelf, the Form S-3 Shelf or any Subsequent Shelf Registration Statement, as the case may be.

 

“Shelf
Registration” shall mean a registration of securities pursuant to a registration statement filed with the Commission
in accordance with and pursuant to Rule 415 promulgated under the Securities Act (or any successor rule then in effect).

 

“Shelf
Takedown” shall mean an Underwritten Shelf Takedown or any proposed transfer or sale using a Registration Statement,
including a Piggyback Registration.

 

“Sponsor”
shall have the meaning given in the Preamble hereto.

 

“Subsequent
Shelf Registration Statement” shall have the meaning given in Section 2.1.2.

 

“Transfer”
shall mean the (a) sale or assignment of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase
or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position
or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Exchange Act with respect
to, any security, (b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences
of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (c)
public announcement of any intention to effect any transaction specified in clause (a) or (b).

 

“Underwriter”
shall mean a securities dealer who purchases any Registrable Securities as principal in an Underwritten Offering and not as part of such
dealer’s market-making activities.

 

“Underwritten
Offering” shall mean a Registration in which securities of the Company are sold to an Underwriter in a firm commitment
underwriting for distribution to the public, including Block Trades and Other Coordinated Offerings.

 

“Underwritten
Shelf Takedown” shall have the meaning given in Section 2.1.4.

 

“Withdrawal
Notice” shall have the meaning given in Section 2.1.6.

 

“Xos”
shall have the meaning given in the Preamble hereto.

 

“Xos Equity Award
Shares” shall mean the shares of Common Stock issued to directors, officers and employees of the Company upon the settlement
or exercise of restricted stock units, stock options or other equity awards outstanding as of immediately following the Closing in respect
of awards of Xos outstanding immediately prior to the Closing.

 

“Xos
Holders” shall have the meaning given in the Preamble hereto.

 

    4

     

    

 

ARTICLE
II

REGISTRATIONS AND OFFERINGS

 

2.1
Shelf Registration.

 

2.1.1
 Filing. As soon as practicable but no later than fifteen (15) business days following the Closing Date, the Company shall
submit to or file with the Commission a Registration Statement for a Shelf Registration on Form S-1 (the “Form S-1 Shelf”)
or a Registration Statement for a Shelf Registration on Form S-3 (the “Form S-3 Shelf”), if the Company is then
eligible to use a Form S-3 Shelf, in each case, covering the resale of all the Registrable Securities (determined as of two (2) business
days prior to such submission or filing) on a delayed or continuous basis and shall use its commercially reasonable efforts to have such
Shelf declared effective as soon as practicable after the filing thereof, but no later than the earlier of (a) the sixtieth (60th)
calendar day following the filing date thereof if the Commission notifies the Company that it will “review” the Registration
Statement and (b) the fifth (5th) business day after the date the Company is notified (orally or in writing, whichever is earlier)
by the Commission that the Registration Statement will not be “reviewed” or will not be subject to further review. Such Shelf
shall provide for the resale of the Registrable Securities included therein pursuant to any method or combination of methods legally available
to, and requested by, any Holder named therein. The Company will use its commercially reasonable efforts to provide a draft of such Registration
Statement to the Holders for review at least two (2) business days in advance of the date of filing of such Registration Statement with
the SEC; provided that for the avoidance of doubt, in no event shall the Company be required to delay or postpone the filing of such Registration
Statement as a result of or in connection with the Holders’ review. The Company shall maintain a Shelf in accordance with the terms
hereof, and shall prepare and file with the Commission such amendments, including post-effective amendments, and supplements as may be
necessary to keep a Shelf continuously effective, available for use to permit the Holders named therein to sell their Registrable Securities
included therein and in compliance with the provisions of the Securities Act until such time as there are no longer any Registrable Securities.
In the event the Company files a Form S-1 Shelf, the Company shall use its commercially reasonable efforts to convert the Form S-1 Shelf
(and any Subsequent Shelf Registration Statement) to a Form S-3 Shelf as soon as practicable after the Company is eligible to use Form
S-3. The Company’s obligation under this Section 2.1.1, shall, for the avoidance of doubt, be subject to Section 3.5.

 

2.1.2 Subsequent Shelf
Registration. If any Shelf ceases to be effective under the Securities Act for any reason at any time while Registrable
Securities are still outstanding, the Company shall, subject to Section 3.5, use its commercially reasonable efforts to
as promptly as is reasonably practicable cause such Shelf to again become effective under the Securities Act (including using its
commercially reasonable efforts to obtain the prompt withdrawal of any order suspending the effectiveness of such Shelf), and shall
use its commercially reasonable efforts to as promptly as is reasonably practicable amend such Shelf in a manner reasonably expected
to result in the withdrawal of any order suspending the effectiveness of such Shelf or file an additional registration statement as
a Shelf Registration (a “Subsequent Shelf Registration
Statement”) registering the resale of all Registrable Securities (determined as of two (2) business days prior
to such filing), and pursuant to any method or combination of methods legally available to, and requested by, any Holder named
therein. If a Subsequent Shelf Registration Statement is filed, the Company shall use its commercially reasonable efforts to (i)
cause such Subsequent Shelf Registration Statement to become effective under the Securities Act as promptly as is reasonably
practicable after the filing thereof (it being agreed that the Subsequent Shelf Registration Statement shall be an automatic shelf
registration statement (as defined in Rule 405 promulgated under the Securities Act) if the Company is a well-known seasoned issuer
(as defined in Rule 405 promulgated under the Securities Act) at the most recent applicable eligibility determination date) and
(ii) keep such Subsequent Shelf Registration Statement continuously effective, available for use to permit the Holders named
therein to sell their Registrable Securities included therein and in compliance with the provisions of the Securities Act until such
time as there are no longer any Registrable Securities. Any such Subsequent Shelf Registration Statement shall be on Form S-3 to the
extent that the Company is eligible to use such form. Otherwise, such Subsequent Shelf Registration Statement shall be on another
appropriate form. The Company’s obligation under this Section 2.1.2, shall, for the avoidance of doubt, be subject to Section
3.5.

 

    5

     

    

 

2.1.3
Additional Registrable Securities. Subject to Section 3.5, in the event that any Holder holds Registrable Securities
that are not registered for resale on a delayed or continuous basis, the Company, upon written request of the Sponsor or a Xos Holder,
shall promptly use its commercially reasonable efforts to cause the resale of such Registrable Securities to be covered by either, at
the Company’s option, any then available Shelf (including by means of a post-effective amendment) or by filing a Subsequent Shelf
Registration Statement and cause the same to become effective as soon as practicable after such filing and such Shelf or Subsequent Shelf
Registration Statement shall be subject to the terms hereof; provided, however, that the Company shall only be required to cause
such Registrable Securities to be so covered twice per calendar year for each of the Sponsor and the Xos Holders.

 

2.1.4
Requests for Underwritten Shelf Takedowns. Subject to Section 3.5, at any time and from time to time when an effective
Shelf is on file with the Commission, the Sponsor or a Xos Holder (any of the Sponsor or a Xos Holder being in such case, a “Demanding
Holder”) may request to sell all or any portion of its Registrable Securities in an Underwritten Offering that is
registered pursuant to the Shelf (each, an “Underwritten Shelf Takedown”);
provided that the Company shall only be obligated to effect an Underwritten Shelf Takedown if such offering shall include Registrable
Securities proposed to be sold by the Demanding Holder, either individually or together with other Demanding Holders, with a total offering
price reasonably expected to exceed, in the aggregate, $75 million (the “Minimum
Takedown Threshold”). All requests for Underwritten Shelf Takedowns shall be made by giving written notice to the
Company, which shall specify the approximate number of Registrable Securities proposed to be sold in the Underwritten Shelf Takedown.
The Company shall have the right to select the Underwriters for such offering (which shall consist of one or more reputable nationally
recognized investment banks), subject to the initial Demanding Holder’s prior approval (which shall not be unreasonably withheld,
conditioned or delayed). The Sponsor and a Xos Holder may each demand not more than two (2) Underwritten Shelf Takedowns pursuant to this
Section 2.1.4 in any twelve (12) month period (and not more than four (4) Underwritten Shelf Takedowns for all Holders in
the aggregate). Notwithstanding anything to the contrary in this Agreement, the Company may effect any Underwritten Offering pursuant
to any then effective Registration Statement, including a Form S-3, that is then available for such offering.

 

2.1.5 Reduction of
Underwritten Offering. If the managing Underwriter or Underwriters in an Underwritten Shelf Takedown, in good faith, advises the
Company, the Demanding Holders and the Holders requesting piggy back rights pursuant to this Agreement with respect to such
Underwritten Shelf Takedown (the “Requesting
Holders”) (if any) in writing that the dollar amount or number of Registrable Securities that the Demanding
Holders and the Requesting Holders (if any) desire to sell, taken together with all other shares of Common Stock or other equity
securities that the Company desires to sell and all other shares of Common Stock or other equity securities, if any, that have been
requested to be sold in such Underwritten Offering pursuant to separate written contractual piggy-back registration rights held by
any other stockholders, exceeds the maximum dollar amount or maximum number of equity securities that can be sold in the
Underwritten Offering without adversely affecting the proposed offering price, the timing, the distribution method, or the
probability of success of such offering (such maximum dollar amount or maximum number of such securities, as applicable, the
“Maximum Number of Securities”), then the
Company shall include in such Underwritten Offering, before including any shares of Common Stock or other equity securities proposed
to be sold by Company or by other holders of Common Stock or other equity securities, the Registrable Securities of the Demanding
Holders and the Requesting Holders (if any) (pro rata based on the respective number of Registrable Securities that each Demanding
Holder and Requesting Holder (if any) has requested be included in such Underwritten Shelf Takedown and the aggregate number of
Registrable Securities that the Demanding Holders and Requesting Holders have requested be included in such Underwritten Shelf
Takedown) that can be sold without exceeding the Maximum Number of Securities.

 

2.1.6
Withdrawal. Prior to the filing of the applicable “red herring” prospectus or prospectus supplement used for
marketing such Underwritten Shelf Takedown, a majority-in-interest of the Demanding Holders initiating an Underwritten Shelf Takedown
shall have the right to withdraw from such Underwritten Shelf Takedown for any or no reason whatsoever upon written notification (a “Withdrawal
Notice”) to the Company and the Underwriter or Underwriters (if any) of their intention to withdraw from such Underwritten
Shelf Takedown; provided that the Sponsor or a Xos Holder may elect to have the Company continue an Underwritten Shelf Takedown
if the Minimum Takedown Threshold would still be satisfied by the Registrable Securities proposed to be sold in the Underwritten Shelf
Takedown by the Sponsor, the Xos Holders or any of their respective Permitted Transferees, as applicable. If withdrawn, a demand for an
Underwritten Shelf Takedown shall constitute a demand for an Underwritten Shelf Takedown by the withdrawing Demanding Holder for purposes
of Section 2.1.4, unless either (i) such Demanding Holder has not previously withdrawn any Underwritten Shelf Takedown
or (ii) such Demanding Holder reimburses the Company for all Registration Expenses with respect to such Underwritten Shelf Takedown
(or, if there is more than one Demanding Holder, a pro rata portion of such Registration Expenses based on the respective number of Registrable
Securities that each Demanding Holder has requested be included in such Underwritten Shelf Takedown); provided that, if the Sponsor
or a Xos Holder elects to continue an Underwritten Shelf Takedown pursuant to the proviso in the immediately preceding sentence, such
Underwritten Shelf Takedown shall instead count as an Underwritten Shelf Takedown demanded by the Sponsor or such Xos Holder, as applicable,
for purposes of Section 2.1.4. Following the receipt of any Withdrawal Notice, the Company shall promptly forward such Withdrawal
Notice to any other Holders that had elected to participate in such Shelf Takedown. Notwithstanding anything to the contrary in this Agreement,
the Company shall be responsible for the Registration Expenses incurred in connection with a Shelf Takedown prior to its withdrawal under
this Section 2.1.6, other than if a Demanding Holder elects to pay such Registration Expenses pursuant to clause (ii)
of the second sentence of this Section 2.1.6.

 

    6

     

    

 

2.2
Piggyback Registration.

 

2.2.1
 Piggyback Rights. If the Company or any Holder proposes to conduct a registered offering of, or if the Company proposes
to file a Registration Statement under the Securities Act with respect to the Registration of, equity securities, or securities or other
obligations exercisable or exchangeable for, or convertible into equity securities, for its own account or for the account of stockholders
of the Company (or by the Company and by the stockholders of the Company, including, without limitation, an Underwritten Shelf Takedown
pursuant to Section 2.1), other than a Registration Statement (or any registered offering with respect thereto) (i) filed
in connection with any employee stock option or other benefit plan, (ii) pursuant to a Registration Statement on Form S-4 (or similar
form that relates to a transaction subject to Rule 145 under the Securities Act or any successor rule thereto), (iii) for an offering
of debt that is convertible into equity securities of the Company or (iv) for a dividend reinvestment plan, then the Company shall
give written notice of such proposed offering to all of the Holders of Registrable Securities as soon as practicable but not less than
ten (10) days before the anticipated filing date of such Registration Statement or, in the case of an Underwritten Offering pursuant to
a Shelf Registration, the applicable “red herring” prospectus or prospectus supplement used for marketing such offering, which
notice shall (A) describe the amount and type of securities to be included in such offering, the intended method(s) of distribution,
and the name of the proposed managing Underwriter or Underwriters, if any, in such offering, and (B) offer to all of the Holders
of Registrable Securities the opportunity to include in such registered offering such number of Registrable Securities as such Holders
may request in writing within five (5) business days after receipt of such written notice (such registered offering, a “Piggyback
Registration”). Subject to Section 2.2.2, the Company shall, in good faith, cause such Registrable Securities
to be included in such Piggyback Registration and, if applicable, shall use its commercially reasonable efforts to cause the managing
Underwriter or Underwriters of such Piggyback Registration to permit the Registrable Securities requested by the Holders pursuant to this
Section 2.2.1 to be included therein on the same terms and conditions as any similar securities of the Company included in
such registered offering and to permit the sale or other disposition of such Registrable Securities in accordance with the intended method(s)
of distribution thereof. The inclusion of any Holder’s Registrable Securities in a Piggyback Registration shall be subject to such
Holder agreement to enter into an underwriting agreement in customary form with the Underwriter(s) selected for such Underwritten Offering.

 

2.2.2
Reduction of Piggyback Registration. If the managing Underwriter or Underwriters in an Underwritten Offering that is to
be a Piggyback Registration, in good faith, advises the Company and the Holders of Registrable Securities participating in the Piggyback
Registration in writing that the dollar amount or number of shares of Common Stock or other equity securities that the Company desires
to sell, taken together with (i) the shares of Common Stock or other equity securities, if any, as to which Registration or a registered
offering has been demanded pursuant to separate written contractual arrangements with persons or entities other than the Holders of Registrable
Securities hereunder, (ii) the Registrable Securities as to which registration has been requested pursuant to Section 2.2
hereof, and (iii) the shares of Common Stock or other equity securities, if any, as to which Registration or a registered offering has
been requested pursuant to separate written contractual piggy-back registration rights of persons or entities other than the Holders of
Registrable Securities hereunder, exceeds the Maximum Number of Securities, then:

 

(a)
 if the Registration or registered offering is undertaken for the Company’s account, the Company shall include in any such
Registration or registered offering (A) first, the shares of Common Stock or other equity securities that the Company desires to
sell, which can be sold without exceeding the Maximum Number of Securities; (B) second, to the extent that the Maximum Number of Securities
has not been reached under the foregoing clause (A), the Registrable Securities of Holders exercising their rights to register their
Registrable Securities pursuant to Section 2.2.1, pro rata, based on the respective number of Registrable Securities that
each Holder has requested be included in such Underwritten Offering and the aggregate number of Registrable Securities that the Holders
have requested to be included in such Underwritten Offering, which can be sold without exceeding the Maximum Number of Securities; and
(C) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A) and (B), the
shares of Common Stock or other equity securities, if any, as to which Registration or a registered offering has been requested pursuant
to separate written contractual piggy-back registration rights of persons or entities other than the Holders of Registrable Securities
hereunder, which can be sold without exceeding the Maximum Number of Securities;

 

    7

     

    

 

(b)
if the Registration or registered offering is pursuant to a demand by persons or entities other than the Holders of Registrable
Securities, then the Company shall include in any such Registration or registered offering (A) first, the shares of Common Stock or other
equity securities, if any, of such requesting persons or entities, other than the Holders of Registrable Securities, which can be sold
without exceeding the Maximum Number of Securities; (B) second, to the extent that the Maximum Number of Securities has not been reached
under the foregoing clause (A), the Registrable Securities of Holders exercising their rights to register their Registrable Securities
pursuant to Section 2.2.1, pro rata, based on the respective number of Registrable Securities that each Holder has requested
be included in such Underwritten Offering and the aggregate number of Registrable Securities that the Holders have requested to be included
in such Underwritten Offering, which can be sold without exceeding the Maximum Number of Securities; (C) third, to the extent that the
Maximum Number of Securities has not been reached under the foregoing clauses (A) and (B), the shares of Common Stock or other equity
securities that the Company desires to sell, which can be sold without exceeding the Maximum Number of Securities; and (D) fourth, to
the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A), (B) and (C), the shares of
Common Stock or other equity securities, if any, as to which Registration or a registered offering has been requested pursuant to separate
written contractual piggy-back registration rights of persons or entities other than the Holders of Registrable Securities hereunder,
which can be sold without exceeding the Maximum Number of Securities; and

 

(c)
if the Registration or registered offering and Underwritten Shelf Takedown is pursuant to a request by Holder(s) of Registrable
Securities pursuant to Section 2.1 hereof, then the Company shall include in any such Registration or registered offering
securities in the priority set forth in Section 2.1.5.

 

2.2.3 Piggyback
Registration Withdrawal. Any Holder of Registrable Securities (other than a Demanding Holder, whose right to withdraw from an
Underwritten Shelf Takedown, and related obligations, shall be governed by Section 2.1.6) shall have the right to
withdraw from a Piggyback Registration for any or no reason whatsoever upon written notification to the Company and the Underwriter
or Underwriters (if any) of his, her or its intention to withdraw from such Piggyback Registration prior to the effectiveness of the
Registration Statement filed with the Commission with respect to such Piggyback Registration or, in the case of a Piggyback
Registration pursuant to a Shelf Registration, the filing of the applicable “red herring” prospectus or prospectus
supplement with respect to such Piggyback Registration used for marketing such transaction. The Company (whether on its own good
faith determination or as the result of a request for withdrawal by persons or entities pursuant to separate written contractual
obligations) may withdraw a Registration Statement filed with the Commission in connection with a Piggyback Registration (which, in
no circumstance, shall include a Shelf) at any time prior to the effectiveness of such Registration Statement. Notwithstanding
anything to the contrary in this Agreement (other than Section 2.1.6), the Company shall be responsible for the
Registration Expenses incurred in connection with the Piggyback Registration prior to its withdrawal under this Section 2.2.3.

 

2.2.4
Unlimited Piggyback Registration Rights. For purposes of clarity, subject to Section 2.1.6, any Piggyback Registration
effected pursuant to Section 2.2 hereof shall not be counted as a demand for an Underwritten Shelf Takedown under Section 2.1.4
hereof.

 

2.2.5
Notwithstanding anything to the contrary in this Agreement, this Section 2.2 shall not apply to a Block Trade or Other
Coordinated Offering initiated by a Demanding Holder pursuant to this Agreement.

 

2.3 Market Stand-off.
In connection with any Underwritten Offering of equity securities of the Company (other than a Block Trade or Other Coordinated Offering),
if requested by the managing Underwriter(s), each Holder that is an executive officer, director or Holder in excess of five percent (5%)
of the outstanding Common Stock (and for which it is customary for such a Holder to agree to a lock-up) agrees that it shall not Transfer
any shares of Common Stock or other equity securities of the Company (other than those included in such offering pursuant to this Agreement),
without the prior written consent of the Company, during the sixty (60)-day period (or such shorter time agreed to by the managing Underwriter(s))
beginning on the date of pricing of such offering, except as expressly permitted by such lock-up agreement or in the event the managing
Underwriter(s) otherwise agree by written consent. Each such Holder agrees to execute a customary lock-up agreement in favor of the Underwriter(s)
to such effect (in each case on substantially the same terms and conditions as all such Holders).

 

    8

     

    

 

ARTICLE
III

COMPANY PROCEDURES

 

3.1
General Procedures. In connection with any Shelf and/or Shelf Takedown, the Company shall use its commercially reasonable
efforts to effect such Registration to permit the sale of such Registrable Securities in accordance with the intended plan of distribution
thereof, and pursuant thereto the Company shall, as expeditiously as possible:

 

3.1.1
prepare and file with the Commission as soon as practicable a Registration Statement with respect to such Registrable Securities
and use its commercially reasonable efforts to cause such Registration Statement to become effective and remain effective until all Registrable
Securities have ceased to be Registrable Securities;

 

3.1.2
 prepare and file with the Commission such amendments and post-effective amendments to the Registration Statement, and such supplements
to the Prospectus, as may be reasonably requested by any Holder that holds at least five percent (5%) of the Registrable Securities registered
on such Registration Statement or any Underwriter of Registrable Securities or as may be required by the rules, regulations or instructions
applicable to the registration form used by the Company or by the Securities Act or rules and regulations thereunder to keep the Registration
Statement effective until all Registrable Securities covered by such Registration Statement are sold in accordance with the intended plan
of distribution set forth in such Registration Statement or supplement to the Prospectus;

 

3.1.3
prior to filing a Registration Statement or Prospectus, or any amendment or supplement thereto, furnish without charge to the Underwriters,
if any, and the Holders of Registrable Securities included in such Registration, and such Holders’ legal counsel, copies of such
Registration Statement as proposed to be filed, each amendment and supplement to such Registration Statement (in each case including all
exhibits thereto and documents incorporated by reference therein), the Prospectus included in such Registration Statement (including each
preliminary Prospectus), and such other documents as the Underwriters and the Holders of Registrable Securities included in such Registration
or the legal counsel for any such Holders may request in order to facilitate the disposition of the Registrable Securities owned by such
Holders;

 

3.1.4
prior to any public offering of Registrable Securities, use its commercially reasonable efforts to (i) register or qualify the
Registrable Securities covered by the Registration Statement under such securities or “blue sky” laws of such jurisdictions
in the United States as the Holders of Registrable Securities included in such Registration Statement (in light of their intended plan
of distribution) may request (or provide evidence satisfactory to such Holders that the Registrable Securities are exempt from such registration
or qualification) and (ii) take such action necessary to cause such Registrable Securities covered by the Registration Statement to be
registered with or approved by such other governmental authorities as may be necessary by virtue of the business and operations of the
Company and do any and all other acts and things that may be necessary or advisable to enable the Holders of Registrable Securities included
in such Registration Statement to consummate the disposition of such Registrable Securities in such jurisdictions; provided, however,
that the Company shall not be required to qualify generally to do business in any jurisdiction where it would not otherwise be required
to qualify or take any action to which it would be subject to general service of process or taxation in any such jurisdiction where it
is not then otherwise so subject;

 

3.1.5
cause all such Registrable Securities to be listed on each national securities exchange on which similar securities issued by the
Company are then listed;

 

3.1.6
provide a transfer agent or warrant agent, as applicable, and registrar for all such Registrable Securities no later than the effective
date of such Registration Statement;

 

3.1.7 advise each seller
of such Registrable Securities, within five (5) business days after it shall receive notice or obtain knowledge thereof, of the
issuance of any stop order by the Commission suspending the effectiveness of such Registration Statement or the initiation or
threatening of any proceeding for such purpose and promptly use its commercially reasonable efforts to prevent the issuance of any
stop order or to obtain its withdrawal if such stop order should be issued;

 

3.1.8
at least five (5) business days prior to the filing of any Registration Statement or Prospectus or any amendment or supplement
to such Registration Statement or Prospectus (or such shorter period of time as may be (a) necessary in order to comply with the Securities
Act, the Exchange Act, and the rules and regulations promulgated under the Securities Act or Exchange Act, as applicable or (b) advisable
in order to reduce the number of days that sales are suspended pursuant to Section 3.5), furnish a copy thereof to each seller
of such Registrable Securities or its counsel (excluding any exhibits thereto and any filing made under the Exchange Act that is to be
incorporated by reference therein);

 

3.1.9
notify the Holders, within five (5) business days, at any time when a Prospectus relating to such Registration Statement is required
to be delivered under the Securities Act, of the happening of any event as a result of which the Prospectus included in such Registration
Statement, as then in effect, includes a Misstatement, and then to correct such Misstatement as set forth in Section 3.5;

 

    9

     

    

 

3.1.10
in the event of an Underwritten Offering or sale by a broker, placement agent or sales agent pursuant to such Registration, in
each of the following cases to the extent customary for a transaction of its type, permit a representative of the Holders, the Underwriters
or other financial institutions facilitating such Underwritten Offering or other sale pursuant to such Registration, if any, and any attorney,
consultant or accountant retained by such Holders or Underwriter to participate, at each such person’s or entity’s own expense,
in the preparation of the Registration Statement, and cause the Company’s officers, directors and employees to supply all information
reasonably requested by any such representative, Underwriter, financial institution, attorney, consultant or accountant in connection
with the Registration; provided, however, that such representatives, Underwriters or financial institutions agree to confidentiality
arrangements in form and substance reasonably satisfactory to the Company, prior to the release or disclosure of any such information;

 

3.1.11
obtain a “comfort” letter from the Company’s independent registered public accountants in the event of an Underwritten
Offering or sale by a broker, placement agent or sales agent pursuant to such Registration (subject to such broker, placement agent or
sales agent providing such certification or representation reasonably requested by the Company’s independent registered public accountants
and the Company’s counsel) in customary form and covering such matters of the type customarily covered by “comfort”
letters for a transaction of its type as the managing Underwriter may reasonably request, and reasonably satisfactory to a majority-in-interest
of the participating Holders;

 

3.1.12  in
the event of an Underwritten Offering or sale by a broker, placement agent or sales agent pursuant to such Registration, on the date
the Registrable Securities are delivered for sale pursuant to such Registration, to the extent customary for a transaction of its
type, obtain an opinion, dated such date, of counsel representing the Company for the purposes of such Registration, addressed to
the participating Holders, the broker, placement agents or sales agent, if any and the Underwriters, if any, covering such legal
matters with respect to the Registration in respect of which such opinion is being given as the participating Holders, broker,
placement agent, sales agent or Underwriter may reasonably request and as are customarily included in such opinions and negative
assurance letters;

 

3.1.13
in the event of any Underwritten Offering or sale by a broker, placement agent or sales agent pursuant to such Registration, enter
into and perform its obligations under an underwriting or other purchase or sales agreement, in usual and customary form, with the managing
Underwriter or the broker, placement agent or sales agent of such offering or sale;

 

3.1.14
make available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least
twelve (12) months beginning with the first day of the Company’s first full calendar quarter after the effective date of the Registration
Statement which satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any successor rule then in
effect);

 

3.1.15
with respect to an Underwritten Offering pursuant to Section 2.1.4, use its commercially reasonable efforts to make
available senior executives of the Company to participate in customary “road show” presentations that may be reasonably requested
by the Underwriter in such Underwritten Offering; and

 

3.1.16
otherwise, in good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by the participating
Holders, consistent with the terms of this Agreement, in connection with such Registration.

 

Notwithstanding the foregoing, the Company shall
not be required to provide any documents or information to an Underwriter, broker, sales agent or placement agent if such Underwriter,
broker, sales agent or placement agent has not then been named with respect to the applicable Underwritten Offering or other offering
involving a registration as an Underwriter, broker, sales agent or placement agent, as applicable.

 

3.2
Registration Expenses. The Registration Expenses of all Registrations shall be borne by the Company. It is acknowledged
by the Holders that the Holders shall bear all incremental selling expenses relating to the sale of Registrable Securities, such as Underwriters’
commissions and discounts, brokerage fees, Underwriter marketing costs and, other than as set forth in the definition of “Registration
Expenses,” all fees and expenses of any legal counsel representing the Holders (as well as of any attorney, consultants or consultant
retained by the Holders under Section 3.1.10).

 

3.3 Stock Distributions.
In connection with any Shelf or Shelf Takedown, if the Company shall receive a request from a Holder of Registrable Securities to effectuate
a pro rata in-kind distribution or other similar transfer for no consideration of such Registrable Securities pursuant to such Registration
to its members, partners, stockholders, as the case may be, then the Company shall deliver or cause to be delivered to the transfer agent
and registrar for the Registrable Securities an opinion of counsel to the Company reasonably acceptable to such transfer agent and registrar
that any legend referring to the Act may be removed upon such distribution or other transfer of such Registrable Securities pursuant
to such Registration; provided that the distributee or transferee of such Registrable Securities is not and has not been for the
preceding ninety (90) days an affiliate of Parent (as defined in Rule 405 promulgated under the Act). The Company’s obligations
hereunder are conditioned upon the receipt of representation letter reasonably acceptable to the Company from such Holder regarding such
proposed pro rata in-kind distribution or other similar transfer for no consideration of such Registrable Securities.

 

    10

     

    

 

3.4
Requirements for Participation in Registration Statement in Offerings. Notwithstanding anything in this Agreement to the
contrary, if any Holder does not provide the Company with its requested Holder Information, the Company may exclude such Holder’s
Registrable Securities from the applicable Registration Statement or Prospectus if the Company determines, based on the advice of counsel,
that such information is necessary to effect the registration and such Holder continues thereafter to withhold such information. No person
or entity may participate in any Underwritten Offering or other offering for equity securities of the Company pursuant to a Registration
initiated by the Company hereunder unless such person or entity (i) agrees to sell such person’s or entity’s securities
on the basis provided in any underwriting, sales, distribution or placement arrangements approved by the Company and (ii) completes
and executes all customary questionnaires, powers of attorney, indemnities, lock-up agreements, underwriting or other agreements and other
customary documents as may be reasonably required under the terms of such underwriting, sales, distribution or placement arrangements.
The exclusion of a Holder’s Registrable Securities as a result of this Section 3.4 shall not affect the registration
of the other Registrable Securities to be included in such Registration.

 

3.5
Suspension of Sales; Adverse Disclosure; Restrictions on Registration Rights.

 

3.5.1
Upon receipt of written notice from the Company that a Registration Statement or Prospectus contains a Misstatement, each of the
Holders shall forthwith discontinue disposition of Registrable Securities until it has received copies of a supplemented or amended Prospectus
correcting the Misstatement (it being understood that the Company hereby covenants to prepare and file such supplement or amendment as
soon as practicable after the time of such notice), or until it is advised in writing by the Company that the use of the Prospectus may
be resumed.

 

3.5.2 Subject to Section 3.5.4,
if the filing, initial effectiveness or continued use of a Registration Statement in respect of any Registration at any time would
(a) require the Company to make an Adverse Disclosure, (b) require the inclusion in such Registration Statement of
financial statements that are unavailable to the Company for reasons beyond the Company’s control, or (c) in the good
faith judgment of the majority of the Board such Registration, upon the advice of external legal counsel, be seriously detrimental
to the Company and the majority of the Board concludes as a result that it is essential to defer such filing, initial effectiveness
or continued use at such time, the Company may, upon giving prompt written notice of such action to the Holders (which notice shall
not specify the nature of the event giving rise to such delay or suspension), delay the filing or initial effectiveness of, or
suspend use of, such Registration Statement for the shortest period of time determined in good faith by the Company to be necessary
for such purpose. In the event the Company exercises its rights under this Section 3.5.2, the Holders agree to suspend,
immediately upon their receipt of the notice referred to above, their use of the Prospectus relating to any Registration in
connection with any sale or offer to sell Registrable Securities until such Holder receives written notice from the Company that
such sales or offers of Registrable Securities may be resumed, and in each case maintain the confidentiality of such notice and its
contents.

 

3.5.3
Subject to Section 3.5.4, (a) during the period starting with the date sixty (60) days prior to the Company’s
good faith estimate of the date of the filing of, and ending on a date one hundred and twenty (120) days after the effective date of,
a Company-initiated Registration, and provided that the Company continues to actively employ, in good faith, all reasonable efforts to
maintain the effectiveness of the applicable Shelf Registration Statement, or (b) if, pursuant to Section 2.1.4, Holders
have requested an Underwritten Shelf Takedown and the Company and Holders are unable to obtain the commitment of underwriters to firmly
underwrite such offering, the Company may, upon giving prompt written notice of such action to the Holders, delay any other registered
offering pursuant to Section 2.1.4.

 

3.5.4
The right to delay or suspend any filing, initial effectiveness or continued use of a Registration Statement pursuant to Section 3.5.2
or a registered offering pursuant to Section 3.5.3 shall be exercised by the Company, in the aggregate, for not more than
two (2) occasions, for more than sixty (60) consecutive calendar days or more than ninety (90) total calendar days, in each case, during
any twelve (12)-month period.

 

3.6
Reporting Obligations. As long as any Holder shall own Registrable Securities, the Company, at all times while it shall
be a reporting company under the Exchange Act, covenants to file timely (or obtain extensions in respect thereof and file within the applicable
grace period) all reports required to be filed by the Company after the date hereof pursuant to Sections 13(a) or 15(d) of the Exchange
Act and to promptly furnish the Holders with true and complete copies of all such filings; provided that any documents publicly
filed or furnished with the Commission pursuant to the Electronic Data Gathering, Analysis and Retrieval System shall be deemed to have
been furnished or delivered to the Holders pursuant to this Section 3.6. The Company further covenants that it shall take
such further action as any Holder may reasonably request, all to the extent required from time to time to enable such Holder to sell shares
of Common Stock held by such Holder without registration under the Securities Act within the limitation of the exemptions provided by
Rule 144 promulgated under the Securities Act (or any successor rule then in effect). Upon the request of any Holder, the Company shall
deliver to such Holder a written certification of a duly authorized officer as to whether it has complied with such requirements.

 

    11

     

    

 

ARTICLE
IV

INDEMNIFICATION AND CONTRIBUTION

 

4.1
Indemnification.

 

4.1.1 The Company agrees
to indemnify, to the extent permitted by law, each Holder of Registrable Securities, its officers, directors and agents and each
person or entity who controls such Holder (within the meaning of the Securities Act), against all losses, claims, damages,
liabilities and out-of-pocket expenses (including, without limitation, reasonable outside attorneys’ fees) resulting from any
untrue or alleged untrue statement of material fact contained in or incorporated by reference in any Registration Statement,
Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a
material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as the same
are caused by or contained in any information or affidavit so furnished in writing to the Company by such Holder expressly for use
therein. The Company shall indemnify the Underwriters, their officers and directors and each person or entity who controls such
Underwriters (within the meaning of the Securities Act) to the same extent as provided in the foregoing with respect to the
indemnification of the Holder.

 

4.1.2
In connection with any Registration Statement in which a Holder of Registrable Securities is participating, such Holder shall furnish
(or cause to be furnished) to the Company in writing such information and affidavits as the Company reasonably requests for use in connection
with any such Registration Statement or Prospectus (the “Holder Information”)
and, to the extent permitted by law, shall indemnify the Company, its directors, officers and agents and each person or entity who controls
the Company (within the meaning of the Securities Act) against all losses, claims, damages, liabilities and out-of-pocket expenses (including,
without limitation, reasonable outside attorneys’ fees) resulting from any untrue or alleged untrue statement of material fact contained
or incorporated by reference in any Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement
thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein
not misleading, but only to the extent that such untrue statement is contained in (or not contained in, in the case of an omission) any
information or affidavit so furnished in writing by or on behalf of such Holder expressly for use therein; provided, however, that
the obligation to indemnify shall be several, not joint and several, among such Holders of Registrable Securities, and the liability of
each such Holder of Registrable Securities shall be in proportion to and limited to the net proceeds received by such Holder from the
sale of Registrable Securities pursuant to such Registration Statement. The Holders of Registrable Securities shall indemnify the Underwriters,
their officers, directors and each person or entity who controls such Underwriters (within the meaning of the Securities Act) to the same
extent as provided in the foregoing with respect to indemnification of the Company.

 

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

 

4.1.4
The indemnification provided for under this Agreement shall remain in full force and effect regardless of any investigation made
by or on behalf of the indemnified party or any officer, director or controlling person or entity of such indemnified party and shall
survive the transfer of securities. The Company and each Holder of Registrable Securities participating in an offering also agrees to
make such provisions as are reasonably requested by any indemnified party for contribution to such party in the event the Company’s
or such Holder’s indemnification is unavailable for any reason.

 

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4.1.5
If the indemnification provided under Section 4.1 from the indemnifying party is unavailable or insufficient to hold
harmless an indemnified party in respect of any losses, claims, damages, liabilities and out-of-pocket 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 out-of-pocket 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 not made by, in the case of an omission), or relates to information supplied by (or not supplied by in the case of an omission),
such indemnifying party or indemnified party, and the indemnifying party’s and indemnified party’s relative intent, knowledge,
access to information and opportunity to correct or prevent such action; provided, however, that the liability of any Holder under
this Section 4.1.5 shall be limited to the amount of the net proceeds received by such Holder in such offering giving rise
to such liability. The amount paid or payable by a party as a result of the losses or other liabilities referred to above shall be deemed
to include, subject to the limitations set forth in Sections 4.1.1, 4.1.2 and 4.1.3 above, any legal or other
fees, charges or out-of-pocket expenses reasonably incurred by such party in connection with any investigation or proceeding. The parties
hereto agree that it would not be just and equitable if contribution pursuant to this Section 4.1.5 were determined by pro
rata allocation or by any other method of allocation, which does not take account of the equitable considerations referred to in this
Section 4.1.5. No person or entity guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities
Act) shall be entitled to contribution pursuant to this Section 4.1.5 from any person or entity who was not guilty of such
fraudulent misrepresentation.

 

ARTICLE
V

MISCELLANEOUS

 

5.1 Notices. Any
notice or communication under this Agreement must be in writing and given by (i) deposit in the United States mail, addressed to the
party to be notified, postage prepaid and registered or certified with return receipt requested, (ii) delivery in person or by
courier service providing evidence of delivery, or (iii) transmission by hand delivery, electronic mail or facsimile. Each notice or
communication that is mailed, delivered, or transmitted in the manner described above shall be deemed sufficiently given, served,
sent, and received, in the case of mailed notices, on the third business day following the date on which it is mailed and, in the
case of notices delivered by courier service, hand delivery, electronic mail or facsimile, at such time as it is delivered to the
addressee (with the delivery receipt or the affidavit of messenger) or at such time as delivery is refused by the addressee upon
presentation. Any notice or communication under this Agreement must be addressed, if to the Company, to: Xos, Inc., 3550 Tyburn St.,
Suite 100, CA 90065, Attention: Chief Financial Officer and, if to any Holder, at such Holder’s address, electronic mail
address or facsimile number as set forth in the Company’s books and records. Any party may change its address for notice at
any time and from time to time by written notice to the other parties hereto, and such change of address shall become effective
thirty (30) days after delivery of such notice as provided in this Section 5.1.

 

5.2
Assignment; No Third Party Beneficiaries.

 

5.2.1
This Agreement and the rights, duties and obligations of the Company hereunder may not be assigned or delegated by the Company
in whole or in part.

 

5.2.2
Subject to Section 5.2.4 and Section 5.2.5, this Agreement and the rights, duties and obligations of a Holder hereunder
may be assigned in whole or in part to such Holder’s Permitted Transferees; provided that, with respect to the Xos Holders
and the Sponsor, the rights hereunder that are personal to such Holders may not be assigned or delegated in whole or in part, except that
(x) each of the Xos Holders shall be permitted to transfer its rights hereunder as the Xos Holders to one or more affiliates or any
direct or indirect partners, members or equity holders of such Xos Holder (it being understood that no such transfer shall reduce any
rights of such Xos Holder or such transferees) and (y) the Sponsor shall be permitted to transfer its rights hereunder as the Sponsor
to one or more affiliates or any direct or indirect partners, members or equity holders of the Sponsor (it being understood that no such
transfer shall reduce any rights of the Sponsor or such transferees).

 

5.2.3
This Agreement and the provisions hereof shall be binding upon and shall inure to the benefit of each of the parties and its successors
and the permitted assigns of the Holders, which shall include Permitted Transferees.

 

5.2.4
This Agreement shall not confer any rights or benefits on any persons or entities that are not parties hereto, other than as expressly
set forth in this Agreement and Section 5.2.

 

5.2.5
No assignment by any party hereto of such party’s rights, duties and obligations hereunder shall be binding upon or obligate
the Company unless and until the Company shall have received (i) written notice of such assignment as provided in Section 5.1
hereof and (ii) the written agreement of the assignee, in a form reasonably satisfactory to the Company, to be bound by the terms and
provisions of this Agreement (which may be accomplished by an addendum or certificate of joinder to this Agreement). Any transfer or assignment
made other than as provided in this Section 5.2 shall be null and void.

 

    13

     

    

 

5.3
 Counterparts. This Agreement may be executed in multiple counterparts (including facsimile or PDF counterparts), each of
which shall be deemed an original, and all of which together shall constitute the same instrument, but only one of which need be produced.

 

5.4
Governing Law; Venue. NOTWITHSTANDING THE PLACE WHERE THIS AGREEMENT MAY BE EXECUTED BY ANY OF THE PARTIES HERETO, THE PARTIES
EXPRESSLY AGREE THAT (1) THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS OF THE STATE OF NEW YORK AND (2) THE
VENUE FOR ANY ACTION TAKEN WITH RESPECT TO THIS AGREEMENT SHALL BE ANY STATE OR FEDERAL COURT IN NEW YORK COUNTY IN THE STATE OF NEW YORK

 

5.5
TRIAL BY JURY. EACH PARTY HERETO ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY
TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND, THEREFORE, EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING
OUT OF, UNDER OR IN CONNECTION WITH OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT.

 

5.6
Amendments and Modifications. Upon the written consent of (a) the Company and (b) the Holders of a majority of the
total Registrable Securities, compliance with any of the provisions, covenants and conditions set forth in this Agreement may be waived,
or any of such provisions, covenants or conditions may be amended or modified; provided, however, that notwithstanding the foregoing,
any amendment hereto or waiver hereof shall also require the written consent of the Sponsor so long as the Sponsor and its affiliates
hold, in the aggregate, at least five percent (4%) of the outstanding shares of Common Stock of the Company; provided, further,
that notwithstanding the foregoing, any amendment hereto or waiver hereof shall also require the written consent of each Xos Holder so
long as such Xos Holder and its affiliates hold, in the aggregate, at least five percent (5%) of the outstanding shares of Common Stock
of the Company; and provided, further, that any amendment hereto or waiver hereof that adversely affects one Holder, solely in
its capacity as a holder of the shares of capital stock of the Company, in a manner that is materially different from the other Holders
(in such capacity) shall require the consent of the Holder so affected. No course of dealing between any Holder or the Company and any
other party hereto or any failure or delay on the part of a Holder or the Company in exercising any rights or remedies under this Agreement
shall operate as a waiver of any rights or remedies of any Holder or the Company. No single or partial exercise of any rights or remedies
under this Agreement by a party shall operate as a waiver or preclude the exercise of any other rights or remedies hereunder or thereunder
by such party.

 

5.7 Other
Registration Rights. Other than (i) the PIPE Investors who have registration rights with respect to their Investor Shares
pursuant to their respective Subscription Agreements and (ii) as provided in the Warrant Agreement, dated as of October 6, 2020,
between the Company and Continental Stock Transfer & Trust Company, the Company represents and warrants that no person or
entity, other than a Holder of Registrable Securities, has any right to require the Company to register any securities of the
Company for sale or to include such securities of the Company in any Registration Statement filed by the Company for the sale of
securities for its own account or for the account of any other person or entity. For so long as (a) the Sponsor and its affiliates
hold, in the aggregate, at least five percent (4%) of the outstanding shares of Common Stock of the Company, the Company hereby
agrees and covenants that it will not grant rights to register any Common Stock (or securities convertible into or exchangeable for
Common Stock) pursuant to the Securities Act that are more favorable, pari passu or senior to those granted to the Holders hereunder
(such rights “Competing Registration
Rights”) without the prior written consent of the Sponsor and (b) a Xos Holder and its affiliates hold, in the
aggregate, at least five percent (5%) of the outstanding shares of Common Stock of the Company, the Company hereby agrees and
covenants that it will not grant Competing Registration Rights without the prior written consent of such Xos Holder. Further, the
Company represents and warrants that this Agreement supersedes any other registration rights agreement or agreement with similar
terms and conditions and in the event of a conflict between any such agreement or agreements and this Agreement, the terms of this
Agreement shall prevail.

 

    14

     

    

 

5.8
Term. This Agreement shall terminate on the earlier of (a) the tenth anniversary of the date of this Agreement or (b) with
respect to any Holder, on the date that such Holder no longer holds any Registrable Securities. The provisions of Section 3.6
and Article IV shall survive any termination.

 

5.9
Holder Information. Each Holder agrees, if requested in writing, to represent to the Company the total number of Registrable
Securities held by such Holder in order for the Company to make determinations hereunder.

 

5.10
Additional Holders; Joinder. In addition to persons or entities who may become Holders pursuant to Section 5.2
hereof, subject to the prior written consent of each of the Sponsor and each Xos Holder (in each case, so long as such Holder and its
affiliates hold, in the aggregate, at least five percent (4%) of the outstanding shares of Common Stock of the Company), the Company may
make any person or entity who acquires Common Stock or rights to acquire Common Stock after the date hereof a party to this Agreement
(each such person or entity, an “Additional Holder”)
by obtaining an executed joinder to this Agreement from such Additional Holder in the form of Exhibit A attached hereto (a
“Joinder”). Such Joinder shall specify the rights
and obligations of the applicable Additional Holder under this Agreement. Upon the execution and delivery and subject to the terms of
a Joinder by such Additional Holder, the Common Stock then owned, or underlying any rights then owned, by such Additional Holder (the
“Additional Holder Common Stock”) shall be Registrable
Securities to the extent provided herein and therein and such Additional Holder shall be a Holder under this Agreement with respect to
such Additional Holder Common Stock.

 

5.11  Severability.
It is the desire and intent of the parties that the provisions of this Agreement be enforced to the fullest extent permissible under
the laws and public policies applied in each jurisdiction in which enforcement is sought. Accordingly, if any particular provision of
this Agreement shall be adjudicated by a court of competent jurisdiction to be invalid, prohibited or unenforceable for any reason, such
provision, as to such jurisdiction, shall be ineffective, without invalidating the remaining provisions of this Agreement or affecting
the validity or enforceability of this Agreement or affecting the validity or enforceability of such provision in any other jurisdiction.
Notwithstanding the foregoing, if such provision could be more narrowly drawn so as not to be invalid, prohibited or unenforceable in
such jurisdiction, it shall, as to such jurisdiction, be so narrowly drawn, without invalidating the remaining provisions of this Agreement
or affecting the validity or enforceability of such provision in any other jurisdiction.

 

5.12
Entire Agreement; Restatement. This Agreement constitutes the full and entire agreement and understanding between the parties
with respect to the subject matter hereof and supersedes all prior agreements and understandings relating to such subject matter. Upon
the Closing, the Original RRA shall no longer be of any force or effect.

 

5.13
Adjustments. If, and as often as, there are any changes in the Registrable Securities by way of stock split, stock dividend,
combination or reclassification, or through merger, consolidation, reorganization, recapitalization or sale, or by any other means, appropriate
adjustment shall be made in the provisions of this Agreement, as may be required, so that the rights, privileges, duties and obligations
hereunder shall continue with respect to the Registrable Securities as so changed.

 

[SIGNATURE PAGES FOLLOW]

 

    15

     

    

 

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

 

	 	COMPANY:
	 	 
	 	Xos Fleet, Inc.
	 	a Delaware corporation
	 	 	 	 
	 	By:	/s/ Dakota Semler
	 	 	Name: 	Dakota Semler
	 	 	Title:	Chief Executive Officer

 

[Signature Page to Amended and Restated Registration
Rights Agreement]

 

    16

     

    

 

 

	 	HOLDERS:
	 	 
	 	NextGen Sponsor LLC
	 	a Cayman Islands limited liability company
	 	 	 
	 	By:	/s/ George N. Mattson
	 	 	Name: 	George N. Mattson
	 	 	Title:	Manager and President

 

[Signature Page to Amended and Restated Registration
Rights Agreement]

 

    17

     

    

 

	 	HOLDERS:
	 	 
	 	Dakota Semler
	 	 
	 	/s/ Dakota Semler

 

[Signature Page to Amended and Restated Registration
Rights Agreement]

 

    18

     

    

 

	 	HOLDERS:
	 	 
	 	Emerald Green Trust, UTD 1/3/2017
	 	 
	 	By:	/s/ Shane Semler
	 	 	Name:	Shane Semler
	 	 	Title:	Authorized Signatory

 

[Signature Page to Amended and Restated Registration
Rights Agreement]

 

    19

     

    

 

	 	HOLDERS:
	 	 
	 	Emerald Green Trust
	 	 
	 	By:	/s/ Shane Semler
	 	 	Name: 	Shane Semler
	 	 	Title:	Authorized Signatory

 

[Signature Page to Amended and Restated Registration
Rights Agreement]

 

    20

     

    

 

	 	HOLDERS:
	 	 
	 	Giordano Sordoni
	 	 
	 	/s/ Giordano Sordoni

 

[Signature Page to Amended and Restated Registration
Rights Agreement]

 

    21

     

    

 

	 	HOLDERS:
	 	 
	 	Aljomaih Automotive Co.
	 	 	 
	 	By:	/s/ Ibrahim Mohammed Abdulaziz Aljomaih
	 	 	Name: 	 Ibrahim Mohammed Abdulaziz Aljomaih
	 	 	Title:	 Vice Chairman and CEO

 

[Signature Page to Amended and Restated Registration
Rights Agreement]

 

    22

     

    

 

Schedule I

 

Xos Holders

 

Aljomaih Automotive Co.

Dakota Semler

Emerald Green Trust

Emerald Green Trust, UTD 1/3/2017

Giordano Sordoni

NextGen Sponsor LLC

 

    23

     

    

Exhibit A

 

REGISTRATION RIGHTS AGREEMENT JOINDER

 

The undersigned is executing
and delivering this joinder (this “Joinder”)
pursuant to the Amended and Restated Registration Rights Agreement, dated as of August 20, 2021 (as the same may hereafter be amended,
the “Registration Rights Agreement”), among
Xos, Inc., a Delaware corporation (the “Company”),
and the other persons or entities named as parties therein. Capitalized terms used but not otherwise defined herein shall have the meanings
provided in the Registration Rights Agreement.

 

By executing and delivering
this Joinder to the Company, and upon acceptance hereof by the Company upon the execution of a counterpart hereof, the undersigned hereby
agrees to become a party to, to be bound by, and to comply with the Registration Rights Agreement as a Holder of Registrable Securities
in the same manner as if the undersigned were an original signatory to the Registration Rights Agreement, and the undersigned’s
shares of Common Stock shall be included as Registrable Securities under the Registration Rights Agreement to the extent provided therein;
provided, however, that the undersigned and its permitted assigns (if any) shall not have any rights as a Holder, and the undersigned’s
(and its transferees’) shares of Common Stock shall not be included as Registrable Securities, for purposes of the Excluded Sections.

 

For purposes of this Joinder,
“Excluded Sections” shall mean [________].

 

Accordingly, the undersigned
has executed and delivered this Joinder as of the __________ day of __________, 20__.

 

	 	 
	 	Signature of Stockholder
	 	 
	 	 
	 	Print Name of Stockholder
	 	Its:
	 	 
	 	Address:	        
	 	 
	 	 

 

	Agreed and Accepted as of	 	 
	____________, 20__	 	 

 

	Xos, Inc.	 
	 	 	 
	By:	 	 
	Name: 	 	 
	Its:	 	 
	 	 	 

 

 

26

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