Document:

Exhibit 10.5

 

THIS PROMISSORY NOTE (“NOTE”) HAS NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY
AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE THEREOF UNDER THE SECURITIES ACT OR AN
OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

PROMISSORY NOTE

 

	Principal Amount: up to $300,000	Dated as of November 11, 2020

(as set forth on the Schedule of Borrowings attached hereto)

 

Global Partner Acquisition Corp II, a Cayman
Islands exempted company and blank check company (the “Maker”), promises to pay to the order of Global Partner
Sponsor II LLC, a Delaware limited liability company, or its registered assigns or successors in interest (the “Payee”),
or order, the principal sum of up to three hundred thousand U.S. dollars ($300,000) (as set forth on the Schedule of Borrowings
attached hereto) in lawful money of the United States of America, on the terms and conditions described below. All payments on
this Note shall be made by check or wire transfer of immediately available funds or as otherwise determined by the Maker to such
account as the Payee may from time to time designate by written notice in accordance with the provisions of this Note.

 

1. Principal. The principal balance
of this Note shall be payable by the Maker on the earlier of: (i) March 31, 2021 or (ii) the date on which Maker
consummates an initial public offering of its securities (the “IPO”). The principal balance may be prepaid at
any time. Under no circumstances shall any individual, including but not limited to any officer, director, employee or shareholder
of the Maker, be obligated personally for any obligations or liabilities of the Maker hereunder.

 

2. Interest. No interest shall accrue
on the unpaid principal balance of this Note.

 

3. Drawdown Requests. Maker
and Payee agree that Maker may request up to Three Hundred Thousand Dollars ($300,000) for costs reasonably related to Maker’s
initial public offering of its securities. The principal of this Note may be drawn down from time to time prior to the earlier
of: (i) March 31, 2021 or (ii) the date on which Maker consummates an initial public offering of its securities,
upon written request from Maker to Payee (each, a “Drawdown Request”). Each Drawdown Request must state the
amount to be drawn down, and must not be an amount less than One Thousand Dollars ($1,000) unless agreed upon by Maker and Payee.
Payee shall fund each Drawdown Request no later than one (1) business day after receipt of a Drawdown Request; provided, however,
that the maximum amount of drawdowns collectively under this Note is Three Hundred Thousand Dollars ($300,000). No fees, payments
or other amounts shall be due to Payee in connection with, or as a result of, any Drawdown Request by Maker.

 

4. Application of Payments. All payments
shall be applied first to payment in full of any costs incurred in the collection of any sum due under this Note, including (without
limitation) reasonable attorney’s fees, then to the payment in full of any late charges and finally to the reduction of the
unpaid principal balance of this Note.

 

5. Events of Default. The following
shall constitute an event of default (“Event of Default”):

 

(a) Failure to Make Required
Payments. Failure by Maker to pay the principal amount due pursuant to this Note within five (5) business days of the
date specified above.

 

(b) Voluntary Bankruptcy, Etc.
The commencement by Maker of a voluntary case under any applicable bankruptcy, insolvency, reorganization, rehabilitation or other
similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian,
sequestrator (or other similar official) of Maker or for any substantial part of its property, or the making by it of any assignment
for the benefit of creditors, or the failure of Maker generally to pay its debts as such debts become due, or the taking of corporate
action by Maker in furtherance of any of the foregoing.

 

     

     

    

 

(c) Involuntary Bankruptcy,
Etc. The entry of a decree or order for relief by a court having jurisdiction in the premises in respect of Maker in an involuntary
case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator, assignee, custodian,
trustee, sequestrator (or similar official) of Maker or for any substantial part of its property, or ordering the winding-up or
liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive
days.

 

6. Remedies.

 

(a) Upon the occurrence of an Event
of Default specified in Section 5(a) hereof, Payee may, by written notice to Maker, declare this Note to be due immediately
and payable, whereupon the unpaid principal amount of this Note, and all other amounts payable thereunder, shall become immediately
due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, anything
contained herein or in the documents evidencing the same to the contrary notwithstanding.

 

(b) Upon the occurrence of an Event
of Default specified in Sections 5(b) and 5(c), the unpaid principal balance of this Note, and all other sums payable with
regard to this Note, shall automatically and immediately become due and payable, in all cases without any action on the part of
Payee.

 

7. Waivers. Maker and all endorsers
and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice of dishonor, protest, and notice of
protest with regard to the Note, all errors, defects and imperfections in any proceedings instituted by Payee under the terms of
this Note, and all benefits that might accrue to Maker by virtue of any present or future laws exempting any property, real or
personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or sale under execution,
or providing for any stay of execution, exemption from civil process, or extension of time for payment; and Maker agrees that any
real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of execution issued hereon, may
be sold upon any such writ in whole or in part in any order desired by Payee.

 

8. Unconditional Liability. Maker
hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement of the payment of this
Note, and agrees that its liability shall be unconditional, without regard to the liability of any other party, and shall not be
affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or consented to by Payee,
and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted by Payee with respect to
the payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors, or sureties may become
parties hereto without notice to Maker or affecting Maker’s liability hereunder.

 

9. Notices. All notices, statements
or other documents which are required or contemplated by this Agreement shall be: (i) in writing and delivered personally
or sent by first class registered or certified mail, overnight courier service or facsimile or electronic transmission to the address
designated in writing, (ii) by facsimile to the number most recently provided to such party or such other address or fax number
as may be designated in writing by such party and (iii) by electronic mail, to the electronic mail address most recently provided
to such party or such other electronic mail address as may be designated in writing by such party. Any notice or other communication
so transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the business day following
receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business day after delivery to an
overnight courier service or five (5) days after mailing if sent by mail.

 

10. Construction. THIS NOTE SHALL
BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS THEREOF.

 

11. Severability. Any provision contained
in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent
of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability
in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

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12. Trust Waiver. Notwithstanding
anything herein to the contrary, the Payee hereby waives any and all right, title, interest or claim of any kind (“Claim”)
in or to any distribution of or from the trust account to be established in which the proceeds of the IPO conducted by the Maker
(including the deferred underwriters discounts and commissions) and certain of the proceeds of the sale of the warrants issued
in a private placement to occur in connection with the consummation of the IPO are to be deposited, as described in greater detail
in the registration statement and prospectus to be filed with the Securities and Exchange Commission in connection with the IPO,
and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the trust account for any
reason whatsoever.

 

13. Amendment; Waiver. Any amendment
hereto or waiver of any provision hereof may be made with, and only with, the written consent of the Maker and the Payee.

 

14. Assignment. No assignment or
transfer of this Note or any rights or obligations hereunder may be made by any party hereto (by operation of law or otherwise)
without the prior written consent of the other party hereto and any attempted assignment without the required consent shall be
void.

 

[Signature page follows]

 

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IN
WITNESS WHEREOF, Maker, intending to be legally bound hereby, has caused this Note to be duly executed by the undersigned
as of the day and year first above written.

 

	 	GLOBAL PARTNER ACQUISITION CORP II
	 	A Cayman Islands exempted company
	 	 	 
	 	By:	 /s/ Paul J. Zepf

	 	 	Name:  	Paul J. Zepf
	 	 	Title: 	Chief Executive Officer

 

[Signature Page to Promissory Note]

 

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SCHEDULE OF BORROWINGS

 

The following increases or decreases in this Promissory Note
have been made:

 

	Date of 

Increase or 

Decrease	Amount of decrease in 

Principal Amount of this 

Promissory Note	Amount of increase in 

Principal Amount of this 

Promissory Note	Principal Amount of this 

Promissory Note following such 

decrease or increase
	 	 	 	 

 

 

5Exhibit 10.6

 

Global Partner Acquisition Corp II

10 Allison Lane

Thornwood, NY 10594

 

	Global Partner Sponsor II LLC	November 11, 2020

10 Allison Lane

Thornwood, NY 10594

 

	RE:	Securities Subscription Agreement

 

Gentlemen:

 

This agreement (this “Agreement”) is entered
into on as of the date first written above by and between Global Partner Sponsor II LLC, a Delaware limited liability company (the
“Subscriber” or “you”), and Global Partner Acquisition Corp II, a Cayman Islands exempted
company (the “Company”). Pursuant to the terms hereof, the Company hereby accepts the offer the Subscriber has
made to subscribe for and purchase 7,187,500 Class B ordinary shares, $0.0001 par value per share (the “Shares,”
which term shall include any Class A ordinary shares into which any such Class B ordinary shares may be converted pursuant to the
Company’s memorandum and articles of association), up to 937,500 of which are subject to forfeiture by you if the underwriters
of the initial public offering (“IPO”) of units (“Units”) of the Company do not fully exercise
their over-allotment option (the “Over-allotment Option”). The Company and the Subscriber’s agreements
regarding such Shares are as follows:

 

	 	1.	Subscription and Purchase of Securities.

 

1.1. Subscription and Purchase of Shares.
For the sum of $25,000 (the “Purchase Price”), which the Company acknowledges receiving in the form of a capital
contribution, the Company hereby issues the Shares to the Subscriber, and the Subscriber hereby subscribes for and purchases the
Shares from the Company, 937,500 of which are subject to forfeiture, on the terms and subject to the conditions set forth in this
Agreement. All references in this Agreement to shares of the Company being forfeited shall take effect as surrenders for no consideration
of such shares as a matter of Cayman Islands law.

 

1.2. Surrender of Class B Ordinary Share.
Upon the issue of the Shares, the Subscriber hereby surrenders to the Company for no consideration the one Class B ordinary share
held by the Subscriber following the incorporation of the Company.

 

1.3. Vesting.

 

1.3.1. The Subscriber hereby agrees that it shall
not sell, transfer or otherwise dispose of, or hypothecate or otherwise grant any interest in or to, any of the Shares, unless,
until and to the extent that a Release Event (as defined below) has occurred with respect to such Shares. The Subscriber further
agrees that, upon the end of the period commencing on the date of this Agreement and continuing through the date that is the eighth
(8th) anniversary of the closing of the Company’s initial business combination, if any of the Shares have not
been subject to a Release Event, the Subscriber shall deliver such Shares to the Company for cancellation. Any certificates representing
Shares shall have endorsed thereon, in addition to any other legends required under this Agreement, a legend describing the transfer
restrictions and the risk of cancellation imposed under this Section 1. Following a Release Event, such legend shall be removed
from the applicable Shares upon the request of the Subscriber.

 

1.3.2. Until immediately after the closing of the
Company’s initial business combination, the Subscriber shall have full rights to vote all of the Shares. As of such time,
50% of the Shares shall have vested pursuant to Section 1.3.4(a) below, and the Subscriber shall no longer have the right to vote
any of the remaining Shares, unless, until and solely to the extent that any such Shares have vested.

 

     

     

    

 

1.3.3. Dividends and distributions payable on any
of the Shares shall not be paid to the Subscriber but shall instead be held for the account of the Subscriber in escrow, unless,
until and solely to the extent that any such Shares have vested, at which time the dividends and distributions payable on such
Shares shall be paid to the Subscriber. To the extent any Shares are delivered to the Company for cancellation, any dividends or
distributions payable thereon shall revert to the Company.

 

1.3.4. The Shares shall vest, and shall as a consequence
no longer be subject to the transfer, voting and dividend restrictions imposed in this Section 1 or to cancellation, in the following
tranches (each of the below, as applicable to the relevant Shares, a “Release Event”):

 

	 	a.	Fifty percent (50%) upon the closing of the Company’s initial business combination;

 

	 	b.	An additional twelve and one-half percent (12.5%) upon the Return to Shareholders (as defined below) exceeding 20%;

 

	 	c.	An additional twelve and one-half percent (12.5%) upon the Return to Shareholders exceeding 30%;

 

	 	d.	An additional twelve and one-half percent (12.5%) upon the Return to Shareholders exceeding 40%; and

 

	 	e.	The remaining twelve and one-half percent (12.5%) upon the Return to Shareholders exceeding 50%.

 

As used herein, “Return to Shareholders”
means the sum of (i) the appreciation of the per-share market price of the Company’s Class A Shares (as defined below) following
the Company’s initial business combination (measured as the excess above $10.00 of the average of the 20 highest daily closing
market prices for such shares over any period of 30 consecutive trading days that commences after the closing of the Company’s
initial business combination), and (ii) the cash or fair market value (as applicable) of each dividend or distribution paid by
the Company on its Class A Shares (measured on a per-Class A Share basis as of the date such dividend or distribution was declared),
with such sum being expressed as a percentage of $10.00.

 

	 	f.	Notwithstanding the foregoing, all of the Shares shall vest, and shall as a consequence no longer be subject to the transfer, voting and dividend restrictions imposed in this Section 1 or to cancellation, upon the first of any of the following to occur:

 

	 	i.	If the Company completes a “going private” transaction pursuant to Rule 13e-3 under the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise ceases to be subject to reporting obligations under Sections 13 or 15(d) of the Exchange Act;

 

	 	ii.	If the Class A Shares cease being listed on a national securities exchange;

 

	 	iii.	If the Company is amalgamated, merged, consolidated or reorganized with or into another person (an “Acquirer”), and as a result thereof less than 50.1% (whether by voting or economic interests) of the outstanding equity capital interests of the Acquirer, or other surviving or resulting entity, is owned in the aggregate by those persons that were holders of the Company’s Ordinary Shares (as defined below) immediately prior to such amalgamation, merger, consolidation or reorganization, excluding from such computation any Ordinary Shares held at such time by the Acquirer or any affiliate of the Acquirer;

 

	 	iv.	If the Company or any of its subsidiaries, individually or collectively, sells, assigns, transfers or otherwise disposes of (including by bulk reinsurance outside of the ordinary course of business), in one transaction or a series of related transactions, all or substantially all of the assets of the Company and its subsidiaries, taken as a whole, to an Acquirer, and as a result thereof less than 50.1% (whether by voting or economic interests) of the outstanding equity capital interests of the Acquirer, or other surviving or resulting entity, is owned in the aggregate by those persons that were holders of Ordinary Shares immediately following such sale, assignment or transfer, excluding from such computation any Ordinary Shares held at such time by the Acquirer or any affiliate of the Acquirer; or

 

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	 	v.	If a Schedule 13D or Schedule 13G report (or any successor schedules, forms or reports) under the Exchange Act is filed with the U.S. Securities and Exchange Commission disclosing that any person or group (as the terms “person” and “group” are used in Sections 13(d) or 14(d) of the Exchange Act and the rules and regulations thereunder) has become the beneficial owner (as the term “beneficial owner” is defined in Rule 13d-3 under the Exchange Act (or any successor rule or regulation) of a percentage of the Ordinary Shares as shall be greater than the percentage of such shares that, at the date of such filing, is held by any other person or group that held more than 50% of the Ordinary Shares immediately after the closing of the Company’s initial business combination.

 

	 	g.	Notwithstanding anything to the contrary herein, at or prior to the closing of the Company’s initial business combination, the Subscriber may transfer any Shares to any third party providing equity or debt financing for the Company’s initial business combination or any related transactions, without the consent of any person, and any Shares so transferred shall reduce the number of Shares subject to this Section 1 (with such reduction allocated pro rata among each Release Event). Unless otherwise agreed in writing by the Subscriber and the third party receiving such Shares, no such transferred Shares shall be subject to the terms and conditions of this Section 1.

 

1.4. Adjustments. In the event of the declaration
of a share capitalization, the declaration of an extraordinary dividend payable in a form other than Shares, a spin-off, a share
sub-division, an adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Company’s outstanding
Ordinary Shares without receipt of consideration, any new, substituted or additional securities or other property which are by
reason of such transaction distributed with respect to any Shares or into which such Shares thereby become convertible shall immediately
be subject to this Section 1. Appropriate adjustments to reflect the distribution of such securities or property shall be
made to the number and/or class of Shares subject to this Section 1.

 

	 	2.	Representations, Warranties and Agreements.

 

2.1. Subscriber’s Representations, Warranties
and Agreements. To induce the Company to issue the Shares to the Subscriber, the Subscriber hereby represents and warrants
to the Company and agrees with the Company as follows:

 

2.1.1. No Government Recommendation or Approval.
The Subscriber understands that no federal or state agency has passed upon or made any recommendation or endorsement of the offering
of the Shares.

 

2.1.2. No Conflicts. The execution, delivery
and performance of this Agreement and the consummation by the Subscriber of the transactions contemplated hereby do not violate,
conflict with or constitute a default under (i) the limited liability company agreement of the Subscriber, (ii) any agreement,
indenture or instrument to which the Subscriber is a party or (iii) any law, statute, rule or regulation to which the Subscriber
is subject, or any agreement, order, judgment or decree to which the Subscriber is subject.

 

2.1.3. Formation, Registration and Authority.
The Subscriber is a Delaware limited liability company, validly existing and in good standing under the laws of the State of Delaware
and possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement. Upon execution
and delivery by you, this Agreement will be a legal, valid and binding agreement of Subscriber, enforceable against Subscriber
in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance
or similar laws affecting the enforcement of creditors’ rights generally and subject to general principles of equity (regardless
of whether enforcement is sought in a proceeding at law or in equity).

 

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2.1.4. Experience, Financial Capability and Suitability.
Subscriber is: (i) sophisticated in financial matters and is able to evaluate the risks and benefits of the investment in
the Shares and (ii) able to bear the economic risk of its investment in the Shares for an indefinite period of time because
the Shares have not been registered under the Securities Act of 1933, as amended (the “Securities Act”) and
therefore cannot be sold unless subsequently registered under the Securities Act or an exemption from such registration is available.
Subscriber is capable of evaluating the merits and risks of its investment in the Company and has the capacity to protect its own
interests. Subscriber must bear the economic risk of this investment until the Shares are sold pursuant to: (i) an effective
registration statement under the Securities Act or (ii) an exemption from registration available with respect to such sale.
Subscriber is able to bear the economic risks of an investment in the Shares and to afford a complete loss of Subscriber’s
investment in the Shares.

 

2.1.5. Access to Information; Independent Investigation.
Prior to the execution of this Agreement, the Subscriber has had the opportunity to ask questions of and receive answers from representatives
of the Company concerning an investment in the Company, as well as the finances, operations, business and prospects of the Company,
and the opportunity to obtain additional information to verify the accuracy of all information so obtained. In determining whether
to make this investment, Subscriber has relied solely on Subscriber’s own knowledge and understanding of the Company and
its business based upon Subscriber’s own due diligence investigation and the information furnished pursuant to this paragraph.
Subscriber understands that no person has been authorized to give any information or to make any representations which were not
furnished pursuant to this Section 2 and Subscriber has not relied on any other representations or information in making its
investment decision, whether written or oral, relating to the Company, its operations and/or its prospects.

 

2.1.6. Investment Purposes. The Subscriber
is purchasing the Shares solely for investment purposes, for the Subscriber’s own account and not for the account or benefit
of any other person, and not with a view towards the distribution or dissemination thereof in violation of the registration requirements
of the Securities Act. The Subscriber did not decide to enter into this Agreement as a result of any general solicitation or general
advertising within the meaning of Rule 502 of Regulation D under the Securities Act.

 

2.1.7. Restrictions on Transfer; Shell Company.
Subscriber understands the Shares are being offered in a transaction not involving a public offering within the meaning of the
Securities Act. Subscriber understands the Shares will be “restricted securities” within the meaning of Rule 144(a)(3)
under the Securities Act, and Subscriber understands that the certificates or book-entries representing the Shares will contain
a legend in respect of such restrictions. If in the future the Subscriber decides to offer, resell, pledge or otherwise transfer
the Shares, such Shares may be offered, resold, pledged or otherwise transferred only pursuant to: (i) registration under
the Securities Act, or (ii) an available exemption from registration. Subscriber agrees that if any transfer of its Shares
or any interest therein is proposed to be made, as a condition precedent to any such transfer, Subscriber may be required to deliver
to the Company an opinion of counsel satisfactory to the Company. Absent registration or an exemption, the Subscriber agrees not
to resell the Shares. Subscriber further acknowledges that because the Company is a shell company, Rule 144 may not be available
to the Subscriber for the resale of the Shares until one year following consummation of the initial business combination of the
Company, despite technical compliance with the requirements of Rule 144 and the release or waiver of any contractual transfer
restrictions.

 

2.1.8. No Governmental Consents. No governmental,
administrative or other third party consents or approvals are required or necessary on the part of Subscriber in connection with
the transactions contemplated by this Agreement.

 

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2.2. Company’s Representations, Warranties
and Agreements. To induce the Subscriber to subscribe for and purchase the Shares, the Company hereby represents and warrants
to the Subscriber and agrees with the Subscriber as follows:

 

2.2.1. Incorporation and Power. The Company
is a Cayman Islands exempted company and is qualified to do business in every jurisdiction in which the failure to so qualify would
reasonably be expected to have a material adverse effect on the financial condition, operating results or assets of the Company.
The Company possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement.

 

2.2.2. No Conflicts. The execution, delivery
and performance of this Agreement and the consummation by the Company of the transactions contemplated hereby do not violate, conflict
with or constitute a default under (i) the memorandum and articles of association of the Company, (ii) any agreement,
indenture or instrument to which the Company is a party or (iii) any law, statute, rule or regulation to which the Company
is subject, or any agreement, order, judgment or decree to which the Company is subject.

 

2.2.3. Title to Securities. Upon issuance
in accordance with, and payment pursuant to, the terms hereof, and registration in the Company’s register of members, the
Shares will be duly and validly issued, fully paid and nonassessable. Upon issuance in accordance with, and payment pursuant to,
the terms hereof, and registration in the Company’s register of members, the Subscriber will have or receive good title to
the Shares, free and clear of all liens, claims and encumbrances of any kind, other than (a) transfer, voting and dividend
restrictions and the risk of cancellation hereunder and other agreements to which the Shares may be subject, (b) transfer
restrictions under federal and state securities laws, and (c) liens, claims or encumbrances imposed due to the actions of
the Subscriber.

 

2.2.4. No Adverse Actions. There are no actions,
suits, investigations or proceedings pending, threatened against or affecting the Company which: (i) seek to restrain, enjoin,
prevent the consummation of or otherwise affect the transactions contemplated by this Agreement or (ii) question the validity
or legality of any transactions or seeks to recover damages or to obtain other relief in connection with any transactions.

 

		3.	Forfeiture of Shares.

 

3.1. Partial or No Exercise of the Over-allotment
Option. In the event the Over-allotment Option granted to the representative(s) of the underwriters of the Company’s
IPO is not exercised in full, the Subscriber acknowledges and agrees that it shall forfeit any and all rights to such number of
Shares (up to an aggregate of 2,250,000 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such
that immediately following such forfeiture, the Subscriber (and all other initial shareholders prior to the IPO, if any) will own
an aggregate number of Shares (not including (i) Class A ordinary shares of the Company, $0.0001 par value per share (the
“Class A Shares” and, together with the Shares, “Ordinary Shares”), issuable upon exercise
of any warrants, (ii) any securities purchased by Subscriber in the Company’s IPO or in the aftermarket or (iii) the
Shares issued to the Subscriber in respect of any forward purchase) equal to 20% of the issued and outstanding Ordinary Shares
immediately following the IPO.

 

3.2. Termination of Rights as Shareholder.
If any of the Shares are forfeited in accordance with this Section 3, then after such time the Subscriber (or successor in
interest), shall no longer have any rights as a holder of such Shares, and the Company shall take such action as is appropriate
to cancel such Shares.

 

4. Waiver of Liquidation Distributions; Redemption Rights.
In connection with the Shares purchased pursuant to this Agreement, the Subscriber hereby waives any and all right, title, interest
or claim of any kind in or to any distributions by the Company from the trust account which will be established for the benefit
of the Company’s public shareholders and into which substantially all of the proceeds of the IPO will be deposited (the “Trust
Account”), in the event of a liquidation of the Company upon the Company’s failure to timely complete an initial
business combination. For purposes of clarity, in the event the Subscriber purchases securities in the IPO or in the aftermarket,
any Class A Shares so purchased shall be eligible to receive any liquidating distributions by the Company. However, in no
event will the Subscriber have the right to redeem any Ordinary Shares into funds held in the Trust Account upon the successful
completion of an initial business combination.

 

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		5.	Restrictions on Transfer.

 

5.1. Restrictive Legends. Any certificates
representing the Shares shall have endorsed thereon legends substantially as follows:

“THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR
ANY STATE SECURITIES LAWS AND NEITHER THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE
DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION
UNDER SUCH ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL, IS AVAILABLE.”

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO LOCKUP PROVISIONS AND MAY NOT BE OFFERED, SOLD, TRANSFERRED,
PLEDGED OR OTHERWISE DISPOSED DURING THE TERM OF THE LOCKUP.”

 

5.2. Additional Shares or Substituted Securities.
In the event of the declaration of a share capitalization, the declaration of an extraordinary dividend payable in a form other
than Shares, a spin-off, a share sub-division, an adjustment in conversion ratio, a recapitalization or a similar transaction affecting
the Company’s outstanding Ordinary Shares without receipt of consideration, any new, substituted or additional securities
or other property which are by reason of such transaction distributed with respect to any Shares subject to this Section 5
or into which such Shares thereby become convertible shall immediately be subject to this Section 5 and Section 3. Appropriate
adjustments to reflect the distribution of such securities or property shall be made to the number and/or class of Shares subject
to this Section 5 and Section 3.

 

5.3. Registration Rights. Subscriber acknowledges
that the Shares are being purchased pursuant to an exemption from the registration requirements of the Securities Act and will
become freely tradable under the U.S. federal securities laws only after certain conditions are met or the Shares are registered
pursuant to a registration rights agreement to be entered into with the Company prior to the closing of the IPO.

 

		6.	Other Agreements.

 

6.1. Further Assurances. Subscriber agrees
to execute such further instruments and to take such further action as may reasonably be necessary to carry out the intent of this
Agreement.

 

6.2. Notices. All notices, statements or other
documents which are required or contemplated by this Agreement shall be: (i) in writing and delivered personally or sent by
first class registered or certified mail, overnight courier service or facsimile or electronic transmission to the address designated
in writing, (ii) by facsimile to the number most recently provided to such party or such other address or fax number as may
be designated in writing by such party and (iii) by electronic mail, to the electronic mail address most recently provided
to such party or such other electronic mail address as may be designated in writing by such party. Any notice or other communication
so transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the business day following
receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business day after delivery to an
overnight courier service or five (5) days after mailing if sent by mail.

 

6.3. Entire Agreement. This Agreement, together
with that certain insider letter to be entered into between Subscriber and the Company and the agreements to be entered into between
the Company, the Subscriber and the anchor investors with respect to any forward purchase, substantially in the forms to be filed
as exhibits to the Registration Statement on Form S-1 associated with the Company’s IPO, embody the entire agreement
and understanding between the Subscriber and the Company with respect to the subject matter hereof and supersedes all prior oral
or written agreements and understandings relating to the subject matter hereof. No statement, representation, warranty, covenant
or agreement of any kind not expressly set forth in this Agreement shall affect, or be used to interpret, change or restrict, the
express terms and provisions of this Agreement.

 

    6

     

    

 

6.4. Modifications and Amendments. The terms
and provisions of this Agreement may be modified or amended only by written agreement executed by all parties hereto.

 

6.5. Waivers and Consents. The terms and provisions
of this Agreement may be waived, or consent for the departure therefrom granted, only by a written document executed by the party
entitled to the benefits of such terms or provisions. No such waiver or consent shall be deemed to be or shall constitute a waiver
or consent with respect to any other terms or provisions of this Agreement, whether or not similar. Each such waiver or consent
shall be effective only in the specific instance and for the purpose for which it was given, and shall not constitute a continuing
waiver or consent.

 

6.6. Assignment. The rights and obligations
under this Agreement may not be assigned by either party hereto without the prior written consent of the other party.

 

6.7. Benefit. All statements, representations,
warranties, covenants and agreements in this Agreement shall be binding on the parties hereto and shall inure to the benefit of
the respective successors and permitted assigns of each party hereto. Nothing in this Agreement shall be construed to create any
rights or obligations except among the parties hereto, and no person or entity shall be regarded as a third-party beneficiary of
this Agreement.

 

6.8. Governing Law. This Agreement and the
rights and obligations of the parties hereunder shall be construed in accordance with and governed by the laws of the State of
New York applicable to contracts wholly performed within the borders of such state, without giving effect to the conflict of law
principles thereof.

 

6.9. Severability. In the event that any court
of competent jurisdiction shall determine that any provision, or any portion thereof, contained in this Agreement shall be unreasonable
or unenforceable in any respect, then such provision shall be deemed limited to the extent that such court deems it reasonable
and enforceable, and as so limited shall remain in full force and effect. In the event that such court shall deem any such provision,
or portion thereof, wholly unenforceable, the remaining provisions of this Agreement shall nevertheless remain in full force and
effect.

 

6.10. No Waiver of Rights, Powers and Remedies.
No failure or delay by a party hereto in exercising any right, power or remedy under this Agreement, and no course of dealing between
the parties hereto, shall operate as a waiver of any such right, power or remedy of such party. No single or partial exercise of
any right, power or remedy under this Agreement by a party hereto, nor any abandonment or discontinuance of steps to enforce any
such right, power or remedy, shall preclude such party from any other or further exercise thereof or the exercise of any other
right, power or remedy hereunder. The election of any remedy by a party hereto shall not constitute a waiver of the right of such
party to pursue other available remedies. No notice to or demand on a party not expressly required under this Agreement shall entitle
the party receiving such notice or demand to any other or further notice or demand in similar or other circumstances or constitute
a waiver of the rights of the party giving such notice or demand to any other or further action in any circumstances without such
notice or demand.

 

6.11. Survival of Representations and Warranties.
All representations and warranties made by the parties hereto in this Agreement or in any other agreement, certificate or instrument
provided for or contemplated hereby, shall survive the execution and delivery hereof and any investigations made by or on behalf
of the parties.

 

6.12. No Broker or Finder. Each of the parties
hereto represents and warrants to the other that no broker, finder or other financial consultant has acted on its behalf in connection
with this Agreement or the transactions contemplated hereby in such a way as to create any liability on the other. Each of the
parties hereto agrees to indemnify and save the other harmless from any claim or demand for commission or other compensation by
any broker, finder, financial consultant or similar agent claiming to have been employed by or on behalf of such party and to bear
the cost of legal expenses incurred in defending against any such claim.

 

    7

     

    

 

6.13. Headings and Captions. The headings
and captions of the various subdivisions of this Agreement are for convenience of reference only and shall in no way modify or
affect the meaning or construction of any of the terms or provisions hereof.

 

6.14. Counterparts. This Agreement may be
executed in one or more counterparts, all of which when taken together shall be considered one and the same agreement and shall
become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both
parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission or any other
form of electronic delivery, such signature shall create a valid and binding obligation of the party executing (or on whose behalf
such signature is executed) with the same force and effect as if such signature page were an original thereof.

 

6.15. Construction. The parties hereto have
participated jointly in the negotiation and drafting of this Agreement. If an ambiguity or question of intent or interpretation
arises, this Agreement will be construed as if drafted jointly by the parties hereto and no presumption or burden of proof will
arise favoring or disfavoring any party hereto because of the authorship of any provision of this Agreement. The words “include,”
“includes,” and “including” will be deemed to be followed by “without limitation.”
Pronouns in masculine, feminine, and neuter genders will be construed to include any other gender, and words in the singular form
will be construed to include the plural and vice versa, unless the context otherwise requires. The words “this Agreement,”
“herein,” “hereof,” “hereby,” “hereunder,” and words
of similar import refer to this Agreement as a whole and not to any particular subdivision unless expressly so limited. The parties
hereto intend that each representation, warranty, and covenant contained herein will have independent significance. If any party
hereto has breached any representation, warranty, or covenant contained herein in any respect, the fact that there exists another
representation, warranty or covenant relating to the same subject matter (regardless of the relative levels of specificity) which
such party hereto has not breached will not detract from or mitigate the fact that such party hereto is in breach of the first
representation, warranty, or covenant.

 

6.16. Mutual Drafting. This Agreement is the
joint product of the Subscriber and the Company and each provision hereof has been subject to the mutual consultation, negotiation
and agreement of such parties and shall not be construed for or against any party hereto.

 

7. Voting and Tender of Shares. Subscriber agrees to
vote the Shares in favor of an initial business combination that the Company negotiates and submits for approval to the Company’s
shareholders and shall not seek redemption or repurchase with respect to such Shares. Additionally, the Subscriber agrees not to
tender any Shares in connection with a tender offer presented to the Company’s shareholders in connection with an initial
business combination negotiated by the Company.

 

[Signature Page Follows]

 

    8

     

    

 

If the foregoing accurately sets forth our understanding and
agreement, please sign the enclosed copy of this Agreement and return it to us.

 

	 	Very truly yours,
	 	 	 	 
	 	Global Partner Acquisition Corp II
	 	 	 	 
	 	By:	/s/
Paul J. Zepf
	 	 	Name: 	Paul J. Zepf
	 	 	Title:	 Chief
Executive Officer

 

Accepted and agreed as of the date first written above.

  

	Global Partner Sponsor II LLC  	 
	 	 	 
	By:	
        /s/ Paul J. Zepf

        
	 
	 	Name: 	Paul J. Zepf	 
	 	Title:	Chief Executive Officer	 

 

[Signature Page to Securities Subscription Agreement]

 

 

9

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