Document:

Exhibit 4.3
Description of Registrant’s Securities
Registered Pursuant to Section 12 of the
Securities Exchange Act of 1934, as amended
The following description of common stock of Cubic Corporation (the “Company,” “we” and “our”), and related preferred stock purchase rights, is a summary and does not purport to be complete. It is subject to and qualified in its entirety by reference to our Amended and Restated Certificate of Incorporation, as amended (the “Certificate of Incorporation”), our Amended and Restated Bylaws (the “Bylaws”), and the Rights Agreement, dated as of September 20, 2020, by and between the Company and Broadridge Corporate Issuer Solutions, Inc. (the “Rights Agreement”), all of which are filed as exhibits to the Annual Report on Form 10-K of which this exhibit is a part. We encourage you to read the Certificate of Incorporation, the Bylaws, the Rights Agreement and the applicable provisions of the Delaware General Corporation Law, Title 8 of the Delaware Code (the “DGCL”), for additional information.
Authorized Capital Stock
Our authorized capital stock consists of 50,000,000 shares of common stock, no par value (“common stock”), and 5,000,000 shares of preferred stock, no par value (“preferred stock”). The outstanding shares of our common stock are fully paid and nonassessable. There are no shares of preferred stock currently outstanding.
Voting Rights
Holders of our common stock are entitled to one vote per share on all matters to be voted upon by the shareholders. The holders of common stock are not entitled to cumulative voting rights with respect to the election of directors, which means that the holders of a majority of the shares voted can elect all of the directors then standing for election.
Dividend Rights
Subject to limitations under the DGCL and preferences that may apply to any outstanding shares of preferred stock, holders of our common stock are entitled to receive ratably such dividends or other distributions, if any, as may be declared by our board of directors (“Board”) out of funds legally available therefor.
Liquidation Rights
In the event of our liquidation, dissolution or winding up, holders of our common stock are entitled to share ratably in all assets remaining after payment of liabilities, subject to the liquidation preference of any outstanding preferred stock.
Other Rights and Preferences
The common stock has no preemptive, conversion or other rights to subscribe for additional securities. There are no redemption or sinking fund provisions applicable to our common stock. The rights, preferences and privileges of holders of common stock are subject to, and may be adversely affected by, the rights of the holders of shares of any series of preferred stock that we may designate and issue in the future.
Preferred Stock
Under our Certificate of Incorporation, our Board is authorized to issue shares of our preferred stock from time to time, in one or more classes or series, without stockholder approval. Prior to the issuance of shares of each series, our Board is required by the DGCL and our Certificate of Incorporation to adopt resolutions and file a certificate of designation with the Secretary of State of the State of Delaware. The certificate of designation fixes for each class or series the designations, powers, preferences, rights, qualifications, limitations and restrictions, including the following:
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·      the number of shares constituting each class or series;
·      voting rights;
·      rights and terms of redemption, including sinking fund provisions;
·      dividend rights and rates;
·      dissolution;
·      terms concerning the distribution of assets;
·      conversion or exchange terms;
·      redemption price; and
·      liquidation preferences.
No shares of preferred stock are currently outstanding. An aggregate of 50,000 shares of Series A junior participating preferred stock are reserved for issuance upon exercise of our preferred stock purchase rights, as further described below.
Provisions of our Certificate of Incorporation and Bylaws that would have an effect of delaying, deferring or preventing a change of control of the Company
Provisions of our Certificate of Incorporation and Bylaws may have the effect of making it more difficult for a third party to acquire, or discourage a third party from attempting to acquire, control of our Company by means of a tender offer, a proxy contest or otherwise. These provisions may also make the removal of incumbent officers and directors more difficult. These provisions are intended to discourage certain types of coercive takeover practices and inadequate takeover bids and to encourage persons seeking to acquire control to first negotiate with us. These provisions could also limit the price that investors might be willing to pay for shares of our common stock. These provisions may make it more difficult for shareholders to take specific corporate actions and could have the effect of delaying or preventing a change in control of our Company. These provisions are summarized below.
Approval of business combinations
Our Certificate of Incorporation provides that the affirmative vote of the holders of at least 662/3% of our outstanding common stock is required for the approval, adoption or authorization of a business combination and that no business combination may be entered into without that affirmative vote.
As used in our Certificate of Incorporation, a business combination means:
·      our merger into, or our consolidation with, any other corporation, person or business entity;
·      the merger of any other corporation, person or business entity into, or its consolidation with us;
·      the sale, exchange, lease transfer, or other disposition by us of 60% or more of our assets or business to any other corporation, person or business entity;
·      the issuance or transfer at any one time by us, or by any subsidiary, of 50% or more of voting securities issued pursuant to a stock option, purchase, bonus performance unit or other plan or agreement for natural persons who are directors, employees, consultants, and/or agents of us and/or a subsidiary to any other corporation, person or business entity in exchange for cash, assets, or securities or any combination thereof; or
·      any agreement, contract or other arrangement between us and any other corporation, person or business entity providing for any of the transactions described above.
These provisions do not apply to any transaction described above (a) if our Board has approved a memorandum of understanding with such other corporation, person or business entity with respect to and substantially consistent with such transaction prior to the time such other corporation, person or business entity became an owner of 5% of the our outstanding common stock, or (b) to any corporation, person or business entity which is an owner of 5% of our outstanding common stock of this corporation at the time of adoption of this provision in our Certificate of Incorporation.
The affirmative vote of the holders of at least 662/3% of our outstanding common stock is required for the amendment of all or any part of this provision.
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No written consent of shareholders
Any action by our shareholders must be taken at an annual or special meeting of shareholders and may not be taken by written consent. The affirmative vote of the holders of at least 662/3% of the total voting power of all outstanding shares of our voting stock is required for the amendment of this provision.
Special meetings of shareholders
Special meetings of our shareholders may be called only by our Board or by a committee of our Board that has been duly designated to do so by our Board. The affirmative vote of the holders of at least 662/3% of the total voting power of all outstanding shares of our voting stock is required for the amendment of this provision.
Amendment of Bylaws
The affirmative vote of the holders of at least 662/3% of the total voting power of all outstanding shares of our voting stock is required for shareholders to amend our Bylaws. This provision makes it more difficult to circumvent the anti-takeover provisions of our Bylaws. Our Board is authorized to make, repeal, alter, amend and rescind our Bylaws, but at least a 662/3% vote of the directors is required to change the number of directors.
Number of directors; removal; filling vacancies
Our Certificate of Incorporation:
·      provides that the number of directors may be fixed exclusively by resolutions adopted by at least 662/3% of the authorized number of directors constituting our Board; and
·      authorizes our Board to fill newly created directorships. This provision could prevent a shareholder from obtaining majority representation on our Board because our Board could enlarge the size of the board and fill the vacancies. A director holds office for the remainder of the full term of the director for which any vacancy was created or occurred until that director's successor is elected and qualified.
Issuance of undesignated preferred stock
Our Board is authorized to issue, without further action by the shareholders, up to 5,000,000 shares of preferred stock with rights and preferences, including voting rights, designated from time to time by the Board. The existence of authorized but unissued shares of preferred stock enables our Board to render more difficult or to discourage an attempt to obtain control of the Company by means of a merger, tender offer, proxy contest or otherwise.
The Rights Agreement; Preferred Stock Purchase Rights
Pursuant to our Rights Agreement, one Series A junior participating preferred stock purchase right is issued for each outstanding share of our common stock (a “Right”). Each Right issued is subject to the terms of our Rights Agreement.
Our Rights Agreement was adopted by our Board to protect against any coercive or abusive takeover tactics, and to help ensure that our shareholders are not deprived of the opportunity to realize the full and fair value of their investment. The Rights Agreement should not interfere with any merger or other business combination approved by our Board, and the Rights Agreement also has an exception for qualifying offers as described below.
The Rights
The Rights initially trade with, and are inseparable from, our common stock. The Rights are evidenced only by certificates that represent shares of our common stock. As long as the Rights are attached to the common stock, we
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will issue one Right (subject to adjustment) with each new share of common stock so that all such shares will have attached Rights.
Exercise price
Once exercisable, each Right will entitle the registered holder to purchase from us one one-thousandth of a share of Series A junior participating preferred stock, without par value (the “Preferred Shares”) at a price of $315.00 per one one-thousandth of a Preferred Share (the “Purchase Price”), subject to certain anti-dilution adjustments. Prior to exercise, a Right does not give its holder any rights beyond those as an existing stockholder, including, without limitation, the right to vote or to receive dividends.
Consequences of a person or group becoming an acquiring person
Under the Rights Agreement, an “Acquiring Person” is any person or group of affiliated or associated persons who acquires, or obtains the right to acquire, beneficial ownership of 15% (20% in the case of a Passive Institutional Investor, as such term is defined in the Rights Agreement) or more of the common stock (including certain synthetic equity positions created by derivative securities). The Rights Agreement restricts any person or group of affiliated or associated persons from becoming an Acquiring Person and any person or group of affiliated or associated persons from making a tender offer or exchange offer the consummation of which would result in a person or group becoming an Acquiring Person.
In the event that a person becomes an Acquiring Person or if the Company were the surviving corporation in a merger with an Acquiring Person or any affiliate or associate of an Acquiring Person and shares of the common stock were not changed or exchanged, each holder of a Right, other than Rights that are or were acquired or beneficially owned by the Acquiring Person (which Rights will thereafter be void), will thereafter have the right to receive upon exercise that number of shares of common stock having a market value of two times the then current Purchase Price of the Right.
In the event that, after a person has become an Acquiring Person, the Company were acquired in a merger or other business combination transaction or more than 50% of its assets or earning power were sold, each holder of a Right shall thereafter have the right to receive, upon the exercise thereof at the then current Purchase Price of the Right, that number of shares of common stock of the acquiring company which at the time of such transaction would have a market value of two times the then current Purchase Price of the Right.
Exercisability
Each Right will not be exercisable until:
·      ten business days after the public announcement that a person or group of affiliates or associated persons has become an Acquiring Person; or
·      ten business days (or such later date as may be determined by action of our Board prior to such time as any person or group of affiliated or associated persons becomes an Acquiring Person) following the commencement or announcement by a person or group of affiliates or associated persons of an intention to make a tender offer or exchange offer the consummation of which would result in a person or group of affiliated or associated persons becoming an Acquiring Person.
Until the date the Rights become exercisable (or earlier redemption, exchange, termination or expiration of the Rights):
·      the Rights will be transferred with and only with the common stock;
·      new common stock certificates issued after the close of business on the Record Date (as defined in the Rights Agreement) upon transfer or new issuance of the common stock will contain a notation incorporating the Rights Agreement by reference, and the Company will deliver a notice to that effect upon the transfer or new issuance of book entry shares; and
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·      the surrender for transfer of any certificates for common stock or any book entry shares, with or without such notation, notice or a copy of the Summary of Rights included as Exhibit C to the Rights Agreement, will also constitute the transfer of the Rights associated with the common stock represented by such certificate or the book entry shares.
After the date the Rights become exercisable, separate certificates evidencing the Rights will be mailed to holders of record of the common stock and such separate right certificates alone will evidence the Rights.
Expiration
The Rights will expire on September 19, 2021, subject to the Company’s right to extend such date.
Anti-dilution provisions
Our Board may adjust the Purchase Price, the number of Preferred Shares or other securities or property issuable, upon exercise of the Rights to prevent dilution that may occur from (a) a stock dividend, a subdivision, a combination or a reclassification of the Preferred Shares or common stock, (b) an issuance of rights or warrants to subscribe for or purchase Preferred Shares at less than the current market price of the Preferred Shares, or (c) a distribution to holders of Preferred Shares of debt, cash, securities or assets, subject to certain exclusions, or of a subscription of rights or warrants (other than those referred to in subsection (b) of this section). No adjustments to the Purchase Price of less than 1% will be made. No fractional Preferred Shares or common stock will be issued and cash payments will be made in lieu thereof.
Exceptions to the Rights Agreement
The Rights Agreement does not apply to any Qualifying Offer (as defined below) if the holders of a majority of the outstanding shares of common stock (other than shares held by the person making the Qualifying Offer or such person’s affiliates or associates) vote in favor of a resolution exempting the Qualifying Offer from the provisions of the Rights Agreement.
A “Qualifying Offer” is defined as an offer determined by our Board in good faith to be:
·      a fully financed all-cash tender offer or an exchange offer that has commenced under Securities and Exchange Commission rules and is for shares of common stock of the offeror or a combination of cash and such shares of common stock, in each case for all of the outstanding shares of common stock at the same per-share consideration;
·      an offer that is conditioned only on customary terms and conditions and on the tender of a minimum of at least a majority of (a) the shares of common stock outstanding on a fully-diluted basis and (b) the outstanding shares of common stock not held by the offeror (or its affiliates or associates) (which minimum tender condition shall not be waivable); and
·      an offer pursuant to which the Company has received an irrevocable, legally binding written commitment by the offeror as to the offer period, the consummation of a second-step transaction as promptly as practicable upon successful completion of the offer and that no amendments will be made to change the terms of the offer in a way that is adverse to a tendering stockholder.
Exchange
At any time after a person becomes an Acquiring Person and prior to the earlier of (i) the acquisition of the Company in a merger or other business combination or the sale of more than 50% of its assets or earning power or (ii) the acquisition by such Acquiring Person of 50% or more of the then outstanding Common Stock, the Board may cause the Company to exchange the Rights (other than Rights owned by an Acquiring Person which will have become void), in whole or in part, for shares of common stock at an exchange rate of one share of common stock per Right (subject to adjustment).
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Redemption
The Rights may be redeemed in whole, but not in part, at a price of $0.0001 per Right (the “Redemption Price”) by our Board at any time prior to the time that an Acquiring Person has become such. The redemption of the Rights may be made effective at such time, on such basis and with such conditions as our Board in its sole discretion may establish. Immediately upon any redemption of the Rights, the right to exercise the Rights will terminate and the only right of the holders of Rights will be to receive the Redemption Price.
Amendments
Any of the provisions of the Rights Agreement may be amended by our Board, or a duly authorized committee thereof, for so long as the Rights are then redeemable, and after the Rights are no longer redeemable, we may amend or supplement the Rights Agreement in any manner that does not adversely affect the interests of the holders of the Rights (other than an Acquiring Person or any affiliate or associate of an Acquiring Person).
Forum for Adjudication of Disputes
Unless we consent in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware is the sole and exclusive forum for (a) any derivate action or proceeding brought on behalf of the Company, (b) any action asserting a claim of breach of a fiduciary duty owed by any director, officer or other employee of the Company to the Company or the Company’s shareholders, (c) any action asserting a claim arising pursuant to any provision of the DGCL or (d) any action asserting a claim governed by the internal affairs doctrine.
New York Stock Exchange listing
Our common stock is currently traded on the New York Stock Exchange under the symbol “CUB.”

6Exhibit 10.1

 

Insider Letter Acknowledgement and Agreement

 

Reference is made to the letter agreement
delivered to Decarbonization Plus Acquisition Corporation, a Delaware corporation (the “Company”), dated
October 19, 2020 and attached hereto as Exhibit A (the “Insider Letter”). In exchange for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned acknowledges and agrees as follows:
(i) he is an Insider (as such term is defined in the Insider Letter) for the purposes of the Insider Letter and (ii) to be bound
by the terms of the Insider Letter as they relate to directors and Insiders (as such term is defined in the Insider Letter) of
the Company.

 

This acknowledgement and agreement shall
be governed by and construed in accordance with the laws of the State of New York without reference to such state’s principles
of conflicts of law that would cause the laws of any other jurisdiction to apply.

 

Agreed and acknowledged this 18th day of November,
2020.

 

	 	DIRECTOR
	 	 
	 	/s/ Michael
Warren
	 	Michael Warren

 

	Acknowledged and Agreed:	 
	 	 
	DECARBONIZATION
    PLUS Acquisition Corporation	 
	 	 	 
	By:	/s/
    Peter Haskopoulos	 
	Name:  	Peter Haskopoulos	 
	Title:	Chief Financial Officer, Chief Accounting Officer
    and Secretary	 

 

     

     

    

 

Exhibit
A – Insider Letter

 

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October 19, 2020

 

Decarbonization Plus Acquisition Corporation

2744 Sand Hill Road

Menlo Park, CA 94025

 

Re: Initial Public Offering

 

Gentlemen:

 

This letter (this “Letter Agreement”)
is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
to be entered into by and among Decarbonization Plus Acquisition Corporation, a Delaware corporation (the “Company”),
and Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC, as representatives (the “Representatives”)
of the several underwriters (each, an “Underwriter” and collectively, the “Underwriters”),
relating to an underwritten initial public offering (the “Public Offering”), of 23,000,000 of the Company’s
units (including up to 3,000,000 units that may be purchased to cover over-allotments, if any) (the “Units”),
each comprised of one share of the Company’s Class A common stock, par value $0.0001 per share (the “Common Stock”),
and one-half of one warrant. Each whole warrant (each, a “Warrant”) entitles the holder thereof to purchase
one share of Common Stock at a price of $11.50 per share, subject to adjustment. The Units shall be sold in the Public Offering
pursuant to a registration statement on Form S-1 (File No. 333-248958) and prospectus (the “Prospectus”)
filed by the Company with the Securities and Exchange Commission (the “Commission”) and the Company shall
apply to have the Units listed on the Nasdaq Capital Market. Certain capitalized terms used herein are defined in paragraph 11
hereof.

 

In order to induce the Company and the Underwriters
to enter into the Underwriting Agreement and to proceed with the Public Offering and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, Decarbonization Plus Acquisition Sponsor, LLC (the “Sponsor”)
and each of the undersigned entities and individuals, each of whom is a member of the Company’s board of directors and/or
management team, or an affiliate thereof (each, an “Insider” and collectively, the “Insiders”),
hereby agrees with the Company as follows:

 

1. The Sponsor and each Insider agrees that
if the Company seeks stockholder approval of a proposed Business Combination, then in connection with such proposed Business Combination,
it, he or she shall (i) vote any shares of Capital Stock owned by it, him or her in favor of any proposed Business Combination
and (ii) not redeem any shares of Common Stock owned by it, him or her in connection with such stockholder approval.

 

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2. The Sponsor and each Insider hereby agrees
that in the event that the Company fails to consummate a Business Combination within 24 months from the closing of the Public Offering,
or such later period approved by the Company’s stockholders in accordance with the Company’s amended and restated certificate
of incorporation, the Sponsor and each Insider shall take all reasonable steps to cause the Company to (i) cease all operations
except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than 10 business days thereafter, subject
to lawfully available funds therefor, redeem 100% of the Common Stock sold as part of the Units in the Public Offering (the “Offering
Shares”), at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account,
including interest earned on the funds held in the Trust Account and not previously released to the Company to pay its franchise
and income taxes (less up to $100,000 of interest to pay dissolution expenses and net of taxes payable), divided by the number
of then outstanding Offering Shares, which redemption will completely extinguish all Public Stockholders’ rights as stockholders
(including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as
reasonably possible following such redemption, subject to the approval of the Company’s remaining stockholders and the Company’s
board of directors, dissolve and liquidate, subject in each case to the Company’s obligations under Delaware law to provide
for claims of creditors and other requirements of applicable law. The Sponsor and each Insider agrees to not propose any amendment
to the Company’s amended and restated certificate of incorporation (A) that would modify the substance or timing of the Company’s
obligation to redeem 100% of the Offering Shares if the Company does not complete a Business Combination within 24 months from
the closing of the Public Offering or (B) or with respect to any other provision relating to the rights of holders of Common Stock
or pre-initial Business Combination activity, unless the Company provides its Public Stockholders with the opportunity to redeem
their Offering Shares upon approval of any such amendment at a per-share price, payable in cash, equal to the aggregate amount
then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released
to the Company to pay its franchise and income taxes, divided by the number of then outstanding Offering Shares.

 

The Sponsor and each Insider acknowledges
that it, he or she has no right, title, interest or claim of any kind in or to any monies held in the Trust Account or any other
asset of the Company as a result of any liquidation of the Company with respect to the Founder Shares held by it, him or her. The
Sponsor and each Insider hereby further waives, with respect to any shares of Common Stock held by it, him or her, if any, any
redemption rights it, he or she may have in connection with the consummation of a Business Combination, including, without limitation,
any such rights available in the context of a stockholder vote to approve such Business Combination or in the context of a tender
offer made by the Company to purchase shares of Common Stock and in connection with a stockholder vote to amend the Company’s
amended and restated certificate of incorporation (A) in a manner that would modify the substance or timing of the Company’s
obligation to redeem 100% of the Offering Shares if the Company has not completed an initial Business Combination within 24 months
from the closing of the Public Offering or (B) or with respect to any other provision relating to the rights of holders of Common
Stock or pre-initial Business Combination activity (although the Sponsor, the Insiders and their respective affiliates shall be
entitled to redemption and liquidation rights with respect to any Offering Shares it or they hold if the Company fails to consummate
a Business Combination within 24 months from the date of the closing of the Public Offering or such later date as may be specified
in an amendment to the Company’s amended and restated certificate of incorporation).

 

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3. During the period commencing on the effective
date of the Underwriting Agreement and ending 180 days after such date, the Sponsor and each Insider shall not, without the prior
written consent of the Representatives, (i) sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any option
to purchase or otherwise dispose of or agree to dispose of, directly or indirectly, or establish or increase a put equivalent position
or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as
amended, and the rules and regulations of the Commission promulgated thereunder, with respect to any Units, shares of Common Stock,
Founder Shares, Warrants or any securities convertible into, or exercisable, or exchangeable for, shares of Common Stock owned
by it, him or her, (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic
consequences of ownership of any Units, shares of Common Stock, Founder Shares, Warrants or any securities convertible into, or
exercisable, or exchangeable for, shares of Common Stock owned by it, him or her, whether any such transaction is to be settled
by delivery of such securities, in cash or otherwise, or (iii) publicly announce any intention to effect any transaction specified
in clause (i) or (ii).

 

4. In the event of the liquidation of the
Trust Account, the Sponsor (which for purposes of clarification shall not extend to any other shareholders, members or managers
of the Sponsor) agrees to indemnify and hold harmless the Company against any and all loss, liability, claim, damage and expense
whatsoever (including, but not limited to, any and all legal or other expenses reasonably incurred in investigating, preparing
or defending against any litigation, whether pending or threatened, or any claim whatsoever) to which the Company may become subject
as a result of any claim by (i) any third party (other than the Company’s independent accountants) for services rendered
or products sold to the Company or (ii) a prospective target business with which the Company has entered into an acquisition agreement
(a “Target”); provided, however, that such indemnification of the Company by the Sponsor
shall apply only to the extent necessary to ensure that such claims by a third party for services rendered (other than the Company’s
independent public accountants) or products sold to the Company or a Target do not reduce the amount of funds in the Trust Account
to below (i) $10.00 per share of the Offering Shares or (ii) such lesser amount per share of the Offering Shares held in the Trust
Account due to reductions in the value of the trust assets as of the date of the liquidation of the Trust Account, in each case,
net of the amount of interest earned on the property in the Trust Account which may be withdrawn to pay taxes, except as to any
claims by a third party (including a Target) who executed a waiver of any and all rights to seek access to the Trust Account and
except as to any claims under the Company’s indemnity of the Underwriters against certain liabilities, including liabilities
under the Securities Act of 1933, as amended. In the event that any such executed waiver is deemed to be unenforceable against
such third party, the Sponsor shall not be responsible to the extent of any liability for such third party claims. The Sponsor
shall have the right to defend against any such claim with counsel of its choice reasonably satisfactory to the Company if, within
15 days following written receipt of notice of the claim to the Sponsor, the Sponsor notifies the Company in writing that it shall
undertake such defense.

 

5. To the extent that the Underwriters do
not exercise their over-allotment option to purchase up to an additional 3,000,000 Units within 45 days from the date of the Prospectus
(and as further described in the Prospectus), (a) the Sponsor agrees to forfeit, at no cost, a number of Founder Shares in the
aggregate equal to the product of 659,393 multiplied by a fraction, (i) the numerator of which is 3,000,000 minus the number of
Units purchased by the Underwriters upon the exercise of their over-allotment option, and (ii) the denominator of which is 3,000,000,
and (b) WRG DCRB Investors, LLC agrees to forfeit, at no cost, a number of Founder Shares in the aggregate equal to the product
of 90,607 multiplied by a fraction, (i) the numerator of which is 3,000,000 minus the number of Units purchased by the Underwriters
upon the exercise of their over-allotment option, and (ii) the denominator of which is 3,000,000. The forfeiture will be adjusted
to the extent that the over-allotment option is not exercised in full by the Underwriters so that the Initial Stockholders will
own an aggregate of 20.0% of the Company’s issued and outstanding shares of Capital Stock after the Public Offering.

 

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6. The Sponsor and each Insider hereby agrees
and acknowledges that: (i) the Underwriters and the Company would be irreparably injured in the event of a breach by such Sponsor
or an Insider of its, his or her obligations under paragraphs 1, 2, 3, 4, 5, 7(a), 7(b), and 9 of this Letter Agreement, (ii) monetary
damages may not be an adequate remedy for such breach and (iii) the non-breaching party shall be entitled to injunctive relief,
in addition to any other remedy that such party may have in law or in equity, in the event of such breach.

 

7. (a) The Sponsor and each Insider agrees
that it, he or she shall not Transfer any Founder Shares (or shares of Common Stock issuable upon conversion thereof) until the
earlier of (A) one year after the completion of the Company’s initial Business Combination or (B) subsequent to the Business
Combination, (x) if the last sale price of the Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock
dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing
at least 150 days after the Company’s initial Business Combination or (y) the date on which the Company completes a liquidation,
merger, capital stock exchange, reorganization or other similar transaction that results in all of the Company’s stockholders
having the right to exchange their shares of Common Stock for cash, securities or other property (the “Founder Shares
Lock-up Period”).

 

(b) The Sponsor and each Insider agrees
that it, he or she shall not Transfer any Private Placement Warrants (or shares of Common Stock issued or issuable upon the exercise
of the Private Placement Warrants) until 30 days after the completion of a Business Combination (the “Private Placement
Warrants Lock-up Period” and, together with the Founder Shares Lock-up Period, the “Lock-up Periods”).

 

(c) Notwithstanding the provisions set forth
in paragraphs 7(a) and (b), Transfers of the Founder Shares, Private Placement Warrants and shares of Common Stock issued or issuable
upon the exercise or conversion of the Private Placement Warrants or the Founder Shares and that are held by the Sponsor, any Insider
or any of their permitted transferees (that have complied with this paragraph 7(c)), are permitted (a) to the Company’s officers
or directors, any affiliates or family members of any of the Company’s officers or directors, any members of the Sponsor,
or any affiliates of the Sponsor; (b) in the case of an individual, transfers by gift to a member of the individual’s immediate
family, to a trust, the beneficiary of which is a member of the individual’s immediate family or an affiliate of such person,
or to a charitable organization; (c) in the case of an individual, transfers by virtue of laws of descent and distribution upon
death of the individual; (d) in the case of an individual, transfers pursuant to a qualified domestic relations order; (e) transfers
by private sales or transfers made in connection with the consummation of a Business Combination at prices no greater than the
price at which the securities were originally purchased; (f) transfers in the event of the Company’s liquidation prior to
the completion of an initial Business Combination; (g) transfers by virtue of the laws of the State of Delaware or the Sponsor’s
limited liability company agreement upon dissolution of the Sponsor; and (h) in the event of the Company’s liquidation, merger,
capital stock exchange, reorganization or other similar transaction which results in all of the Company’s stockholders having
the right to exchange their shares of Common Stock for cash, securities or other property subsequent to the completion of the Company’s
initial Business Combination; provided, however, that in the case of clauses (a) through (e) and (g), these permitted transferees
must enter into a written agreement agreeing to be bound by the restrictions herein.

 

    6

     

    

 

8. The Sponsor and each Insider represents
and warrants that it, he or she has never been suspended or expelled from membership in any securities or commodities exchange
or association or had a securities or commodities license or registration denied, suspended or revoked. Each Insider’s biographical
information furnished to the Company (including any such information included in the Prospectus) is true and accurate in all respects
and does not omit any material information with respect to the Insider’s background. The Sponsor and each Insider’s
questionnaire furnished to the Company is true and accurate in all respects. The Sponsor and each Insider represents and warrants
that: it, he or she is not subject to or a respondent in any legal action for, any injunction, cease-and-desist order or order
or stipulation to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction; it, he
or she has never been convicted of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any financial transaction
or handling of funds of another person, or (iii) pertaining to any dealings in any securities and it, he or she is not currently
a defendant in any such criminal proceeding.

 

9. Except as disclosed in the Prospectus,
neither the Sponsor nor any Insider nor any affiliate of the Sponsor or any Insider, nor any director or officer of the Company,
shall receive from the Company any finder’s fee, reimbursement, consulting fee, monies in respect of any repayment of a loan
or other compensation prior to, or in connection with any services rendered in order to effectuate the consummation of the Company’s
initial Business Combination (regardless of the type of transaction that it is), other than the following, none of which will be
made from the proceeds held in the Trust Account prior to the completion of the initial Business Combination: repayment of a loan
and advances up to an aggregate of $300,000 made to the Company by the Sponsor; payment to an affiliate of the Sponsor for office
space, utilities and secretarial and administrative support for a total of $10,000 per month; reimbursement for any out-of-pocket
expenses related to identifying, investigating, negotiating and completing an initial Business Combination; and repayment of loans,
if any, and on such terms as to be determined by the Company from time to time, made by the Sponsor or any of the Company’s
officers or directors to finance transaction costs in connection with an intended initial Business Combination, provided, that,
if the Company does not consummate an initial Business Combination, a portion of the working capital held outside the Trust Account
may be used by the Company to repay such loaned amounts so long as no proceeds from the Trust Account are used for such repayment.
Up to $1,500,000 of such loans may be convertible into warrants at a price of $1.00 per warrant at the option of the lender. Such
warrants would be identical to the Private Placement Warrants, including as to exercise price, exercisability and exercise period.

 

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10. The Sponsor and each Insider has full
right and power, without violating any agreement to which it is bound (including, without limitation, any non-competition or non-solicitation
agreement with any employer or former employer), to enter into this Letter Agreement and, as applicable, to serve as a director
on the board of directors of the Company and hereby consents to being named in the Prospectus as a director of the Company.

 

11. As used herein, (i) “Business
Combination” shall mean a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar
business combination, involving the Company and one or more businesses; (ii) “Capital Stock” shall mean,
collectively, the Common Stock and the Founder Shares; (iii) “Founder Shares” shall mean the 5,750,000
shares of the Company’s Class B common stock, par value $0.0001 per share, (or 5,000,000 shares if the over-allotment option
is not exercised by the Underwriters) initially held by the Sponsor; (iv) “Initial Stockholders” shall
mean the Sponsor and any other holder of Founder Shares immediately prior to the Public Offering; (v) “Private Placement
Warrants” shall mean the warrants to purchase up to 6,000,000 shares of Common Stock of the Company (or 6,600,000
shares of Common Stock if the over-allotment option is exercised in full) that the Sponsor, WRG DCRB Investors, LLC, Jim McDermott,
Jeffrey Tepper, Dr. Jennifer Aaker, and Jane Kearns have agreed to purchase for an aggregate purchase price of $6,000,000 in the
aggregate (or $6,600,000 in the aggregate if the over-allotment option is exercised in full by the Underwriters), or $1.00 per
warrant, in a private placement that shall occur simultaneously with the consummation of the Public Offering; (vi) “Public
Stockholders” shall mean the holders of shares of Common Stock issued in the Public Offering; (vii) “Trust
Account” shall mean the trust fund into which a portion of the net proceeds of the Public Offering and the sale of
the Private Placement Warrants shall be deposited; and (viii) “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 Securities Exchange Act of 1934, as
amended, and the rules and regulations of the Commission promulgated thereunder 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).

 

12. This Letter Agreement constitutes the
entire agreement and understanding of the parties hereto in respect of the subject matter hereof and supersedes all prior understandings,
agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject
matter hereof or the transactions contemplated hereby. This Letter Agreement may not be changed, amended, modified or waived (other
than to correct a typographical error) as to any particular provision, except by a written instrument executed by all parties hereto.

 

13. No party hereto may assign either this
Letter Agreement or any of its rights, interests, or obligations hereunder without the prior written consent of the other parties.
Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign
any interest or title to the purported assignee. This Letter Agreement shall be binding on the Sponsor and each Insider and their
respective successors, heirs and assigns and permitted transferees.

 

    8

     

    

 

14. This Letter Agreement shall be governed
by and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflicts of law principles
that would result in the application of the substantive laws of another jurisdiction. The parties hereto (i) all agree that any
action, proceeding, claim or dispute arising out of, or relating in any way to, this Letter Agreement shall be brought and enforced
in the courts of New York City, in the State of New York, and irrevocably submit to such jurisdiction and venue, which jurisdiction
and venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction and venue or that such courts represent
an inconvenient forum.

 

15. Any notice, consent or request to be
given in connection with any of the terms or provisions of this Letter Agreement shall be in writing and shall be sent by express
mail or similar private courier service, by certified mail (return receipt requested), by hand delivery or facsimile transmission.

 

16. This Letter Agreement shall terminate
on the earlier of (i) the expiration of the Lock-up Periods or (ii) the liquidation of the Company; provided, however, that this
Letter Agreement shall earlier terminate in the event that the Public Offering is not consummated and closed by December 31, 2020;
provided further that paragraph 4 of this Letter Agreement shall survive such liquidation.

 

[Signature Page Follows]

 

    9

     

    

 

	 	Sincerely,
	 	 	 
	 	DECARBONIZATION PLUS ACQUISITION SPONSOR, LLC
	 	 	 
	 	By:	/s/ Peter Haskopoulos
	 	Name:  	Peter Haskopoulos
	 	Title:	Authorized Person

 

	 	WRG DCRB INVESTORS, LLC
	 	 
	 	By: West River Management, LLC,
	 	its Managing Member
	 	 
	 	By: 	/s/ Trent Dawson
	 	Name:  	Trent Dawson
	 	Title:	Chief Financial Officer
	 	 	 
	 	By: 	/s/ Dr. Jennifer Aaker
	 	Name:	Dr. Jennifer Aaker
	 	 	 
	 	By: 	/s/ Erik Anderson
	 	Name:	Erik Anderson
	 	 	 
	 	By: 	/s/ Peter Haskopoulos
	 	Name:	Peter Haskopoulos
	 	 	 
	 	By: 	/s/ Jane Kearns
	 	Name:	Jane Kearns
	 	 	 
	 	By: 	/s/ Pierre Lapeyre, Jr.
	 	Name:	Pierre Lapeyre, Jr.
	 	 	 
	 	By: 	/s/ David Leuschen
	 	Name:	David Leuschen
	 	 	 
	 	By: 	/s/ James AC McDermott
	 	Name:	James AC McDermott
	 	 	 
	 	By: 	/s/ Jeffrey H. Tepper
	 	Name:	Jeffrey H. Tepper
	 	 	 
	 	By: 	/s/ Robert Tichio
	 	Name:	Robert Tichio

 

[Signature Page to Letter Agreement]

 

    10

     

    

 

Acknowledged and Agreed:

 

	DECARBONIZATION PLUS ACQUISITION CORPORATION	 
	 	 
	By:	/s/ Peter Haskopoulos	 
	Name:  	Peter Haskopoulos	 
	Title:	Chief Financial Officer,

 Chief Accounting Officer and Secretary	 

 

[Signature Page to Letter Agreement]

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