Document:

Exhibit 10.1

 

ANGION BIOMEDICA CORP.

 

STOCK PURCHASE AGREEMENT

 

This Stock Purchase
Agreement (“Agreement”) is made as of February 4, 2021 (the “Effective Date”), between
Angion Biomedica Corp., a Delaware corporation (the “Company”), located at 51 Charles Lindbergh Blvd Uniondale,
NY 11553, and Vifor (International) Ltd., an entity formed under the laws of Switzerland, located at Rechenstrasse 34, 9014 St.
Gallen, Switzerland (the “Purchaser”).

 

AGREEMENT

 

Purchaser and the Company
are party to that certain licensing agreement, dated November 6, 2020, whereby Purchaser licenses from the Company certain
commercialization rights for ANG-3777 (the “License Agreement”). Pursuant to the License Agreement, Purchaser
has agreed to make a $30.0 million equity investment in the Company, $5.0 million of which Purchaser has previously invested pursuant
to that certain Note Purchase Agreement, dated December 30, 2020, by and between the Company and Purchaser. In consideration
of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt of which is hereby
acknowledged, the Company and the Purchaser hereby agree as follows:

 

SECTION 1.          AUTHORIZATION
OF SALE OF shares.

 

The Company has authorized
the sale and issuance to the Purchaser of shares of its Common Stock, par value $0.01 per share (the “Common Stock”),
on the terms and subject to the conditions set forth in this Agreement. The shares of Common Stock sold hereunder at the Closing
(as defined below) shall be referred to as the “Shares.”

 

SECTION 2.          AGREEMENT
TO SELL AND PURCHASE THE SHARES.

 

At
the Closing (as defined in Section 3.1), the Company will sell to Purchaser, and Purchaser will purchase from the Company
$25,000,000 of shares of Common Stock at a purchase price per share equal to the per share public offering price (before underwriting
discounts and expenses) in the Concurrent Public Offering (the “Share Price” and such aggregate share price,
the “Aggregate Purchase Price”), rounded down to the nearest whole share. For purposes hereof, “Concurrent
Public Offering” shall mean the issuance and sale of shares of Common Stock by the Company, pursuant to an underwriting
agreement (the “Underwriting Agreement”) to be entered into on or before March 31, 2021, by and among the
Company and certain underwriters (the “Underwriters”) in connection with the Company’s public offering
pursuant to the Company’s registration statement on Form S-1.

 

SECTION 3.          CLOSING
AND DELIVERY.

 

3.1            Closing.
Subject to the terms and conditions set forth herein, the closing of the purchase and sale of the Shares pursuant to this Agreement
(the “Closing”) shall be held on the same date and at a time immediately subsequent to the closing of the Concurrent
Public Offering (the “Closing Date”) and following the satisfaction of the conditions precedent set out in Sections
6 and 7 hereof at the offices of Latham & Watkins LLP, 140 Scott Drive, Menlo Park, California 94025, or on
such other date and place as may be mutually agreed upon by the Company and the Purchaser. At the Closing, the Purchaser shall
pay the Aggregate Purchase Price to the Company in accordance with Section 6.1.

 

     

     

    

 

3.2            Issuance
of the Securities at the Closing. At the Closing, the Company shall issue or deliver to the Purchaser evidence of a book entry
position evidencing the Shares purchased by the Purchaser hereunder, registered in the name of the Purchaser, or in such nominee
name(s) as designated by the Purchaser, representing the Shares to be purchased by the Purchaser at the Closing against payment
of the purchase price for the Shares.

 

SECTION 4.          REPRESENTATIONS,
WARRANTIES AND COVENANTS OF THE COMPANY.

 

The Company hereby
represents and warrants as of the date hereof to, and covenants with, the Purchaser as follows:

 

4.1            Organization
and Qualification. The Company is a corporation duly organized, validly existing and in good standing under the laws of the
State of Delaware, and has all requisite power and authority to carry on its business as now conducted. The Company is qualified
and in good standing as a foreign corporation in each jurisdiction in which the nature of the business conducted by the Company
or the property owned or leased by the Company requires such qualification, except to the extent that the failure to be so qualified
or be in good standing would not have a Material Adverse Effect (as defined below). The Company owns all of the outstanding ordinary
shares of Angion Pty. Limited, an Australian private limited company, and Angion Pharma Europe Ltd., a United Kingdom private limited
company.

 

4.2          Authorization,
Enforcement, Compliance with Other Instruments.

 

(a)            The
Company has the requisite corporate power and authority to enter into and perform its obligations under this Agreement and each
of the other agreements and documents that are exhibits hereto or thereto or are contemplated hereby or thereby or necessary or
desirable to effect the transactions contemplated hereby or thereby (the “Transaction Documents”) and to issue
the shares of Common Stock.

 

(b)            The
execution and delivery by the Company of each of the Transaction Documents and the consummation by it of the transactions contemplated
hereby and thereby, is, or will be at the time of execution of such Transaction Document, authorized and approved by the Company,
its Board of Directors or its stockholders, and no further consent or authorization by any of the Company, its Board of Directors
or its stockholders is or will be required.

 

(c)            Each
of the Transaction Documents is, or will be, duly executed and delivered by the Company.

 

(d)            The
Transaction Documents when executed and delivered by the Company and each other party thereto will constitute the valid and binding
obligations of the Company enforceable against the Company in accordance with their terms, except as such enforceability may be
limited by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar
laws relating to, or affecting generally, the enforcement of creditors’ rights and remedies (the “Enforceability
Limitations”).

 

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4.3          Capitalization.
The statements set forth in the Registration Statement under the caption “Description
of Capital Stock”, insofar as they purport to constitute a summary of the terms of the Company’s capital stock, are
accurate, complete and fair in all material respects.

 

4.4            Registration
Statement. The Company’s registration statement on Form S-1, filed in connection with the Concurrent Public Offering
(the “Registration Statement”), and any amendment thereto, including any information deemed to be included therein
pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”)
promulgated under the Securities Act, complied (or, in the case of amendments filed after the date of this Agreement, will comply)
as of its filing date in all material respects with the requirements of the Securities Act and the rules and regulations of
the SEC promulgated thereunder, and as of its filing date, did not, and as of the date hereof, does not (or, in the case of amendments
filed after the date hereof, will not), contain any untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary in order to make the statements therein not misleading. As of the date it is declared effective
by the SEC, the Registration Statement, as so amended, and any related registration statements, will comply in all material respects
with the requirements of the Securities Act and the rules and regulations of the SEC promulgated thereunder, and will not
contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in
order to make the statements therein not misleading. Any preliminary prospectus included in the Registration Statement or any amendment
thereto, any free writing prospectus related to the Registration Statement and any final prospectus related to the Registration
Statement filed pursuant to Rule 424 promulgated under the Securities Act, in each case as of its date, will comply in all
material respects with the requirements of the Securities Act and the rules and regulations promulgated thereunder, and will
not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements
therein, in light of the circumstances under which they were made, not misleading.

 

4.5          Issuance
of Securities. The securities to be issued to the Purchaser are duly authorized and, upon issuance in accordance with the terms
hereof, shall be duly issued, fully paid and nonassessable, and shall be free from all taxes, liens and charges with respect to
the issue thereof, other than liens imposed by the holders thereof. Assuming the accuracy of the representations and warranties
of the Purchaser set forth in Section 5, it is not necessary in connection with the issuance and sale of the Shares
to the Purchaser in the manner contemplated by this Agreement to register such issuance and sale under the Securities Act.

 

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4.6          No
Conflicts. None of the execution and delivery of or performance by the Company under each Transaction Document or the consummation
of the transactions contemplated by the Transaction Documents conflicts with or violates, or causes a default under (with our without
the passage of time or the giving of notice), or will result in the creation or imposition of, any lien, charge or other encumbrance
upon any of the assets of the Company (i) under any agreement, evidence of indebtedness, joint venture, commitment or other
instrument to which the Company is a party or by which the Company or its assets may be bound, (ii) any statute, rule, law
or governmental regulation applicable to the Company, or any term of the Company’s Certificate of Incorporation as in effect
on the date hereof or any Closing Date (the “Certificate of Incorporation”) or By-Laws as in effect on the date
hereof or the Closing Date of the Company (the “By-Laws”) or (iii) any license, permit, judgment, decree,
order, statute, rule or regulation applicable to the Company or any of its assets, except in the case of clauses (i) and
(iii) a conflict, violation, lien, charge or other encumbrance which would not, or could not reasonably be expected to, have
a material adverse effect on the assets, business, condition (financial or otherwise) or results of operations of the Company (a
 “Material Adverse Effect”). No consent, approval, authorization or other order of, or registration, qualification
or filing with, any regulatory body, administrative agency, or other governmental body is required for the execution and delivery
of the Transaction Documents and the securities to be issued to the Purchaser, except as have been made or obtained and that remain
in full force and effect, and except for the filing of a Form D, any filings required to be made under federal, state or foreign
securities laws, which shall be timely filed by the Company or any consents,
approvals, authorizations, orders, registrations, qualifications or filings, the failure to make or obtain would not or could not
reasonably be expected to have a Material Adverse Effect. The Company is not in violation of any material term of or in
default under its Certificate of Incorporation or By-Laws. Except those which could not reasonably be expected to have a Material
Adverse Effect, or as otherwise set forth in Schedule 4.5, the Company is not in violation of any term of or in default
under any material contract, agreement, mortgage, indebtedness, indenture, instrument, judgment, decree or order or any statute,
rule or regulation applicable to the Company. The business of the Company is not being conducted, and shall not be conducted
in violation of any law, ordinance, or regulation of any governmental entity, except for any violation which could not reasonably
be expected, individually or in the aggregate, to have a Material Adverse Effect.

 

4.7            Financial
Statements. The audited financial statements of the Company provided to Purchaser for the years ended December 31, 2018
and December 31, 2019 and the unaudited financial statements of the Company provided to Purchaser for the nine-month period
ended on September 30, 2020 (the “Financial Statements”) present fairly, in all material respects, the
financial position of the Company as of the dates specified and the results of operations for the periods covered thereby.

 

4.8            No
General Solicitation. Neither the Company, nor any of its affiliates, nor, to the knowledge of the Company, any person acting
on its or their behalf, has engaged in any form of general solicitation or general advertising (within the meaning of Regulation
D) in connection with the offer or sale of the Shares.

 

4.9            No
Integrated Offering; No Disqualifying Event. Neither the Company, nor any of its affiliates, nor, to the knowledge of the Company,
any person acting on its or their behalf has, directly or indirectly, made any offers or sales of any security or solicited any
offers to buy any security, under circumstances that would require registration of the Shares under the Securities Act or cause
this offering of Shares to be integrated with prior offerings by the Company for purposes of the Securities Act. No “bad
actor” disqualifying event described in Rule 506(d)(1)(i)-(viii) under the Securities Act is applicable to the
Company. The Company further discloses the information set forth on Appendix II.

 

4.10          Listing.
The Company will use its commercially reasonable efforts to effect and maintain the listing of the Common Stock (including the
Shares) on The Nasdaq Global Market.

 

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SECTION 5.          REPRESENTATIONS,
WARRANTIES AND COVENANTS OF THE PURCHASER.

 

5.1          Representations
and Warranties. The Purchaser represents and warrants as of the date hereof to, and covenants with, the Company as follows:

 

(a)            The
Purchaser is a validly existing corporation, limited partnership, limited liability company or other legal entity and has all requisite
corporate, partnership, limited liability or entity company power and authority to enter into and consummate the transactions contemplated
by the Transaction Documents and to carry out its obligations hereunder and thereunder, and to purchase the Shares pursuant to
this Agreement.

 

(b)            The
Purchaser acknowledges that it can bear the economic risk and complete loss of its investment in the Shares and has such knowledge
and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment contemplated
hereby. The Purchaser has had an opportunity to receive, review and understand all information related to the Company requested
by it and to ask questions of and receive answers from the Company regarding the Company, its business and the terms and conditions
of the offering of the Shares, and has conducted and completed its own independent due diligence. Based on the information the
Purchaser has deemed appropriate, and without reliance upon any third-party, it has independently made its own analysis and decision
to enter into the Transaction Documents. The Purchaser is relying exclusively on its own investment analysis and due diligence
(including professional advice it deems appropriate) with respect to the execution, delivery and performance of the Transaction
Documents, the Shares and the business, condition (financial and otherwise), management, operations, properties and prospects of
the Company, including but not limited to all business, legal, regulatory, accounting, credit and tax matters, and has received
no representations with regard to the Company or its business, condition (financial and otherwise), management, operations, properties
and prospects, except for those set forth in the Transaction Documents.

 

(c)            The
Shares will be acquired for the Purchaser’s own account, not as nominee or agent, and not with a view to the resale or distribution
of any part thereof in violation of the Securities Act, and the Purchaser has no present intention of selling, granting any participation
in, or otherwise distributing the same in violation of the Securities Act without prejudice, however, to the Purchaser’s
right at all times to sell or otherwise dispose of all or any part of such Shares in compliance with applicable federal and state
securities laws. The Purchaser is not a broker-dealer registered with the SEC under the Exchange Act or an entity engaged in a
business that would require it to be so registered. The Purchaser understands that the Shares are characterized as “restricted
securities” under the U.S. federal securities laws inasmuch as they are being acquired from the Company in a transaction
not involving a public offering and that under such laws and applicable regulations such securities may be resold without registration
under the Securities Act only in certain limited circumstances. Purchaser will not, directly or indirectly, offer, sell, pledge,
transfer or otherwise dispose of (or solicit any offers to buy, purchase or otherwise acquire or take a pledge of) any of the securities
purchased hereunder except in compliance with the Securities Act, applicable “blue sky” laws, and the rules and
regulations promulgated thereunder. The Purchaser has no present intent to effect a “change of control” of the Company
as such term is understood under the rules promulgated pursuant to Section 13(d) of the Exchange Act.

 

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(d)         The
Purchaser is an “accredited investor” within the meaning of Rule 501(a) under the Securities Act. The Purchaser
has determined based on its own independent review and such professional advice as it deems appropriate that its purchase of the
Shares and participation in the transactions contemplated by the Transaction Documents (i) are fully consistent with its financial
needs, objectives and condition, (ii) comply and are fully consistent with all investment policies, guidelines and other restrictions
applicable to the Purchaser, (iii) have been duly authorized and approved by all necessary action, (iv) do not and will
not violate or constitute a default under the Purchaser’s charter, by-laws or other constituent document or under any law,
rule, regulation, agreement or other obligation by which the Purchaser is bound and (v) are a fit, proper and suitable investment
for the Purchaser, notwithstanding the substantial risks inherent in investing in or holding the Shares.

 

(e)           The
execution, delivery and performance by the Purchaser of the Transaction Documents to which the Purchaser is a party have been duly
authorized and each has been duly executed and delivered and constitute the valid and legally binding obligation of the Purchaser,
enforceable against the Purchaser in accordance with their respective terms, subject to the Enforceability Limitations.

 

(f)            The
execution, delivery and performance by the Purchaser of the Transaction Documents and the consummation by the Purchaser of the
transactions contemplated hereby and thereby will not (i) result in a violation of the organizational documents of the Purchaser,
(ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both would become a default)
under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument
to which the Purchaser is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree
(including federal and state securities laws) applicable to the Purchaser, except in the case of clauses (ii) and (iii) above,
for such conflicts, defaults, rights or violations which would not, individually or in the aggregate, reasonably be expected to
have a material adverse effect on the ability of the Purchaser to perform its obligations under the Transaction Documents.

 

(g)            No
third-party will have, as a result of the transactions contemplated by this Agreement, any valid right, interest or claim against
or upon the Company or the Purchaser for any commission, fee or other compensation pursuant to any agreement, arrangement or understanding
entered into by or on behalf of the Purchaser (other than the fee to be paid by the Company to certain placement agents (the “Placement
Agents”) pursuant to that certain private placement letter, dated on or about the date hereof, by and among the Company
and the placement agents named therein). The Purchaser is not a broker or dealer registered
pursuant to Section 15 of the Exchange Act (a “Registered Broker-Dealer”) and is not affiliated with a
Registered Broker-Dealer. The Purchaser is not party to any agreement for distribution of any of the Shares.

 

(h)          The
Purchaser understands that no United States federal or state agency, or similar agency of any other country, has reviewed, approved,
passed upon, or made any recommendation or endorsement of the Company or the purchase of the Shares.

 

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(i)            The
Purchaser has not taken any of the actions set forth in, and is not subject to, the disqualification provisions of Rule 506(d)(1) of
the Securities Act.

 

5.2           Transfer
Restrictions.

 

(a)            Compliance
with Laws. Notwithstanding any other provision of this Agreement, the Purchaser covenants that the Shares may be disposed of
only pursuant to an effective registration statement under, and in compliance with the requirements of, the Securities Act, or
pursuant to an available exemption from, or in a transaction not subject to, the registration requirements of the Securities Act,
and in compliance with any applicable state and federal securities laws. In connection with any transfer of the Shares other than
(i) pursuant to an effective registration statement, (ii) to the Company, (iii) to an Affiliate (as defined below)
of the Purchaser or (iv) pursuant to Rule 144 (provided that the Purchaser provides the Company with reasonable
assurances (in the form of seller and broker representation letters) that the securities may be sold pursuant to such rule)) or
Rule 144A, the Company may require the transferor thereof to provide to the Company an opinion of counsel selected by the
transferor and reasonably acceptable to the Company, the form and substance of which opinion shall be reasonably satisfactory to
the Company, to the effect that such transfer does not require registration of such transferred securities under the Securities
Act. As a condition of transfer of any shares of Common Stock to any such Affiliate, any such Affiliate shall agree in writing
to be bound by the terms of this Agreement and shall have the rights of the Purchaser under this Agreement. For the purposes hereof,
 “Affiliate” means, with respect to any Person, any other Person that, directly or indirectly through one or
more intermediaries, Controls, is controlled by or is under common control with such Person, as such terms are used in and construed
under Rule 144. With respect to a Purchaser that is an entity, any investment fund or managed account that is managed on a
discretionary basis by the same investment manager as such Purchaser will be deemed to be an Affiliate of such Purchaser. For purposes
hereof, “Control” (including the terms “controlling,” “controlled by” or “under
common control with”) means the possession, direct or indirect, of the power to direct or cause the direction of the management
and policies of a Person, whether through the ownership of voting securities, by contract or otherwise.

 

(b)            Legends.
Each of the book entry notations evidencing the shares of Common Stock shall bear any legend as required by the “blue sky”
laws of any state and the restrictive legends in substantially the following form, as applicable, until such time as they are not
required (and a stock transfer order may be placed against transfer of the certificates for the shares of Common Stock):

 

THE SECURITIES REPRESENTED HEREBY
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION, AND MAY NOT
BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (1) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
ACT OF 1933 OR (2) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, IN EACH CASE IN
ACCORDANCE WITH ALL APPLICABLE STATE SECURITIES LAWS AND THE SECURITIES LAWS OF OTHER JURISDICTIONS.

 

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THE SECURITIES REPRESENTED HEREBY
ARE FURTHER SUBJECT TO RESTRICTIONS ON TRANSFER AND OTHER TERMS AND CONDITIONS SET FORTH IN THE STOCK PURCHASE AGREEMENT, DATED
AS OF FEBRUARY 4, 2021, BETWEEN ANGION BIOMEDICA CORP. (THE “COMPANY”) AND VIFOR (INTERNATIONAL) LTD., AS AMENDED FROM
TIME TO TIME, A COPY OF WHICH IS ON FILE WITH AND MAY BE OBTAINED FROM THE SECRETARY OF THE COMPANY AT NO CHARGE.

 

The Company shall, and shall cause its
transfer agent to, remove the restrictive legends set forth above from the book entry notations evidencing any such shares of Common
Stock, promptly upon request, at any time after the restrictions described in such restrictive legends cease to be applicable,
including, as applicable, when such shares may be sold, without limitation, pursuant to an effective registration statement, Rule 144
under the Securities Act or another available exemption from registration, and under this Agreement. The Company may reasonably
request such opinions, certificates or other evidence that such restrictions no longer apply as a condition to removing such restrictive
legends.

 

SECTION 6.          CONDITIONS
TO COMPANY’S OBLIGATIONS AT THE CLOSING.

 

The Company’s
obligation to complete the sale and issuance of the Shares and deliver the Shares to the Purchaser at the Closing shall be subject
to the following conditions to the extent not waived by the Company:

 

6.1           Receipt
of Payment. The Company shall have received payment of the Aggregate Purchase Price, by wire transfer of immediately available
funds to such account as the Company shall designate in writing to the Purchaser not less than two (2) business days prior
to the Closing Date.

 

6.2           Representations
and Warranties. The representations and warranties made by the Purchaser in Section 5 hereof shall be true and
correct in all material respects when made, and shall be true and correct in all material respects on the Closing Date with the
same force and effect as if they had been made on and as of said date. The Purchaser shall have performed in all material respects
all obligations and covenants herein required to be performed by it on or prior to the Closing Date.

 

6.3        Receipt
of Executed Documents. The Purchaser shall have executed and delivered to the Company the Lockup Agreement in a form substantially
similar to the form attached hereto as Appendix I as of the date hereof.

 

6.4
        Concurrent Public Offering. The Underwriting Agreement shall
have been executed and the Underwriters shall have purchased, immediately prior to the purchase of the Shares by the
Purchaser hereunder, the shares in the Concurrent Public Offering.

 

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SECTION 7.          CONDITIONS
TO PURCHASER’S OBLIGATIONS AT THE CLOSING.

 

The Purchaser’s
obligation to accept delivery of the Shares and to pay the Aggregate Purchase Price for the Shares shall be subject to the following
conditions to the extent not waived by the Purchaser:

 

7.1            Representations
and Warranties Correct. The representations and warranties made by the Company in Section 4 hereof shall be true
and correct in all material respects as of, and as if made on, the date of this Agreement and as of the Closing Date, except to
the extent any such representation or warranty expressly speaks as of an earlier date, in which case such representation or warranty
shall be true and correct as of such earlier date. The Company shall have performed in all material respects all obligations and
covenants herein required to be performed by it on or prior to the Closing Date.

 

7.2
         Concurrent Public Offering. The Underwriting
Agreement shall have been executed and the Underwriters shall have purchased, immediately prior to the purchase of the Shares
by the Purchaser hereunder, the shares in the Concurrent Public Offering.

 

7.3            Certificate.
The Purchaser shall have received a certificate signed by the Chief Executive Officer or the Chief Financial Officer to the effect
that the representations and warranties of the Company in Section 4 hereof are true and correct in all material respects
as of, and as if made on, the date of this Agreement and as of the Closing Date and that the Company has satisfied all of the conditions
set forth in this Section 7.

 

7.4            Good
Standing. The Company shall have delivered to the Purchaser a good standing certificate for the Company, issued by the Secretary
of State of the State of Delaware, dated not less than five (5) business days prior to the Closing Date.

 

7.5
         Judgments. No judgment, writ, order,
injunction, award or decree of or by any court, or judge, justice or magistrate, including any bankruptcy court or judge, or
any order of or by any governmental authority, shall have been issued, and no action or proceeding shall have been instituted
by any governmental authority, enjoining or preventing the consummation of the transactions contemplated hereby.

 

7.6            Board
Approval. The Company shall have delivered to the Purchaser resolutions of the Board of Directors of the Company certified
by the Company’s Secretary, approving the transactions contemplated by the Transaction Documents.

 

7.7            Nasdaq
Filing. At the time of Closing, the Company shall have filed with Nasdaq a Notification Form: Listing of Additional Shares
for the listing of the Shares.

 

SECTION 8.          Termination

 

8.1            This
Agreement may be terminated upon the mutual written consent of the Company and the Purchaser or by either the Company or the Purchaser
(a) upon withdrawal by the Company of the Registration Statement or (b) on March 31, 2021 if the Closing has not
occurred.

 

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SECTION 9.          Additional
Agreements of the Parties.

 

9.1            Integration.
The Company shall not, and shall use its commercially reasonable efforts to ensure that no affiliate of the Company shall, sell,
offer for sale or solicit offers to buy or otherwise negotiate in respect of any security (as defined in Section 2 of the
Securities Act) that will be integrated with the offer or sale of the Shares in a manner that would require the registration under
the Securities Act of the sale of the Shares to the Purchaser, or that will be integrated with the offer or sale of the Shares
for purposes of the rules and regulations of any trading market such that it would require stockholder approval prior to the
closing of such other transaction unless stockholder approval is obtained before the closing of such subsequent transaction.

 

9.2          Regulatory
Approvals; Efforts of the Parties. Subject to the terms and conditions of this Agreement, each of the Company and the Purchaser
agree to use commercially reasonable efforts to take, or cause to be taken, all necessary actions, and to do, or cause to be done,
all things necessary under applicable law to consummate the transactions contemplated by this Agreement and the Transaction Documents.
Nothing in this Section 9.2 shall require, or be deemed to require, the Company or the Purchaser (a) to propose,
negotiate, offer to, commit to or effect any sale, divestiture, or disposition of assets or businesses, or licenses or (b) to
agree to hold separate any assets or agree to any similar arrangements or to commit to restrict the dominion or control of its
business or to conduct its business in a specified manner, in each case, in order to secure any government approval required in
connection with the transactions contemplated hereby.

 

9.3            Further
Assurances. Each of the parties shall execute such further documents and perform such further acts (including, without limitation,
obtaining any consents, exemptions, authorizations or other actions by, or giving notices to, or making any filings with, any governmental
entity, if necessary) as may be reasonably requested by the other party to fully implement the intent and purpose of this Agreement.

 

9.4            Blue
Sky. The Company shall take such action as the Company shall reasonably determine is necessary in order to obtain an exemption
for, or to qualify the offer and sale of the Shares to the Purchaser pursuant to this Agreement under applicable securities and
 “blue sky” laws of the states of the United States and any applicable foreign jurisdictions, and shall provide evidence
of any such action so taken to the Purchaser promptly following the Closing Date. The Company shall timely make all filings and
reports relating to the offer and sale of the Shares issued hereunder required under applicable securities and “blue sky”
laws of the states of the United States following the date hereof, including any Form D with respect to the Shares as required
under Regulation D under the Securities Act. The Company will provide to the Purchaser a reasonable opportunity to review and provide
comments with respect to any such Form D prior to the filing thereof and the Company shall reasonably consider any comments
promptly provided by the Purchaser; provided, that in no event shall the Company be obligated to delay the filing of a Form D
in connection with such review and comment by the Purchaser past its due date. The Company shall pay all fees and expenses in connection
with satisfying its obligations under this Section 9.4.

 

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9.5            Rule 144
Reporting. With a view to making available the benefits of certain rules and regulations of the SEC that may permit the
sale of the Shares without registration, the Company agrees that it shall (a) use its commercially reasonable efforts to make
and keep available public information regarding the Company, as those terms are understood and defined in Rule 144 under the
Securities Act, and file with the SEC in a timely manner all reports and other documents required to be filed by the Company under
the Securities Act and the Exchange Act at, in each case, all times from and after the end of the Lock-Up Period (as defined in
the Lockup Agreement) and (b) furnish, unless otherwise available at no charge by access electronically to the SEC’s
EDGAR filing system, to the Purchaser forthwith upon request (i) a copy of the most recent annual or quarterly report of the
Company and (ii) such other information as may be reasonably requested by Purchaser in availing itself of any rule or
regulation of the SEC that permits the Purchaser to sell any such Shares without registration. The obligations of the Company pursuant
to this Section 9.5 shall commence upon the termination of the Lock-Up Period and terminate upon the earlier of the
closing of a Change of Control (as defined below) and December 31, 2022. As used herein, “Change of Control” shall
mean the transfer (whether by tender offer, merger, consolidation or other similar transaction), in one transaction or a series
of related transactions, to a person or group of affiliated persons, of shares of capital stock if, after such transfer, such person
or group of affiliated persons would hold more than 50% of the outstanding voting securities of the Company or the surviving entity.

 

9.6            Securities
Laws Disclosures; Publicity.

 

(a)            By
no later than 5:30 p.m., New York City time, on the fourth trading day immediately following the date hereof, the Company shall
file a Current Report on Form 8-K, in the form required by the Exchange Act (the “Form 8-K”) announcing
the entry into this Agreement and describing the material terms of the transactions contemplated by this Agreement. The Company
and the Purchaser shall consult with each other in issuing any other press releases with respect to the transactions contemplated
hereby, and neither the Company nor the Purchaser shall issue any such press release nor otherwise make any such public statement
with respect to the transactions contemplated hereby, without the prior consent of the Company, with respect to any press release
or public statement of the Purchaser, or without the prior consent of the Purchaser, with respect to any press release or public
statement of the Company, which consent shall not unreasonably be withheld or delayed; provided, however, that the Company shall
be entitled, without the prior approval of the Purchaser, to make any press release or other public disclosure with respect to
such transactions (i) in substantial conformity with the Form 8-K and (ii) as is required by law. Subject to the
foregoing, without the prior consent of the Purchaser, the Company shall not publicly disclose the name of the Purchaser in any
filing, announcement, release or otherwise, unless such disclosure is required by law.

 

(b)            Except
with respect to the material terms and conditions of the transactions contemplated by the Transaction Documents, including this
Agreement, or as expressly required by any applicable securities law, the Company covenants and agrees that as
of the time of the filing of the 8-K, the Purchaser shall not be in possession of any material, non-public information received
from the Company, any subsidiary of the Company or any of their respective officers, directors, employees or agents, pursuant to
the transactions contemplated by this Agreement that is not disclosed in the Registration Statement, 8-K, press release or other
disclosure by the Company that complies with the requirements of Regulation FD.

 

     11

     

    

 

SECTION 10.        NOTICES.

 

All notices, requests,
consents and other communications hereunder shall be in writing, shall be sent by confirmed facsimile or electronic mail, or mailed
by first-class registered or certified airmail, or nationally recognized overnight express courier, postage prepaid, and shall
be deemed given when so sent in the case of facsimile or electronic mail transmission, or when so received in the case of mail
or courier, and addressed as follows:

 

(a)           if
to the Company, to:

 

Angion Biomedica Corp.

51 Charles Lindbergh Boulevard

Uniondale, New York 11553

Attention: Chief Executive Officer

E-Mail: ***

     ***

 

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

 

Latham & Watkins LLP

140 Scott Drive

Menlo Park, California 94025

Attention: *** and ***

E-Mail: ***

     ***

 

or to such other person
at such other place as the Company shall designate to the Purchaser in writing; and

 

(b)           if
to the Purchaser, to:

 

Vifor (International) Ltd.

Rechenstrasse 37, CH-9014

St. Gallen, Switzerland

Attention: CFO & Group General Counsel

Email: ***

   ***

 

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

 

Jones Day

901 Lakeside Ave., North Point

Cleveland, OH  44114

Attention: ***

Email: ***

 

or to such other address
or addresses as may have been furnished to the Company in writing.

 

     12

     

    

 

SECTION 11.        MISCELLANEOUS.

 

11.1          Waivers
and Amendments. Neither this Agreement nor any provision hereof may be changed, waived, discharged, terminated, modified or
amended except upon the written consent of the Company and the Purchaser.

 

11.2          Headings.
The headings of the various sections of this Agreement have been inserted for convenience of reference only and shall not be deemed
to be part of this Agreement.

 

11.3          Severability.
In case any provision contained in this Agreement should be invalid, illegal or unenforceable in any respect, the validity, legality
and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby.

 

11.4          Replacement
of Shares. If the Shares are certificated and any certificate or instrument evidencing any Shares is mutilated, lost, stolen
or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof, or
in lieu of and substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory
to the Company and the Company’s transfer agent of such loss, theft or destruction and the execution by the holder thereof
of a customary lost certificate affidavit of that fact and an agreement to indemnify and hold harmless the Company and the Company’s
transfer agent for any losses in connection therewith or, if required by the transfer agent, a bond in such form and amount as
is required by the transfer agent. The applicants for a new certificate or instrument under such circumstances shall also pay any
reasonable third-party costs associated with the issuance of such replacement Shares. If a replacement certificate or instrument
evidencing any Shares is requested due to a mutilation thereof, the Company may require delivery of such mutilated certificate
or instrument as a condition precedent to any issuance of a replacement.

 

11.5        Specific
Performance. The parties hereto agree that irreparable damages would occur if any provision of this Agreement were not performed
in accordance with the terms hereof and that the parties shall be entitled to an injunction or injunctions to prevent breaches
of this Agreement or to enforce specifically the performance of the terms hereof, in addition to any other remedy to which the
party may be entitled under applicable law.

 

11.6          Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed
by and construed and enforced in accordance with the internal laws of the State of Delaware, without regard to the principles of
conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense
of the transactions contemplated by this Agreement (whether brought against a party hereto or its respective affiliates, directors,
officers, shareholders, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the City
and County of San Francisco. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts
sitting in the City and County of San Francisco for the adjudication of any dispute hereunder or in connection herewith or with
any transaction contemplated hereby or discussed herein (including with respect to the enforcement of any of this Agreement), and
hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject
to the jurisdiction of any such court, that such suit, action or proceeding is improper or is an inconvenient venue for such proceeding.
Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action
or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such
party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient
service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process
in any other manner permitted by law.

 

     13

     

    

 

 

11.7           Counterparts.
This Agreement may be executed and delivered (including by facsimile or portable document format (“.pdf”)) in two or
more counterparts, each of which shall constitute an original, but all of which, when taken together, shall constitute but one
instrument, and shall become effective when one or more counterparts have been signed by each party hereto and delivered to the
other parties.

 

11.8           Third
Party Beneficiaries. The Company and the Purchaser acknowledge that the Placement Agents referenced in this Agreement are third
party beneficiaries of the representations and warranties of the Company herein.

 

11.9         Successors
and Assigns. Without the prior written consent of the Company, the rights and obligations of the Purchaser under this Agreement
may only be assigned to a transferee of the Shares that is an Affiliate of the Purchaser and only upon compliance with the transfer
restrictions set out in Section 5.2 hereof. Without the consent of the Purchaser, the Company may not assign its rights
and obligations under this Agreement. The provisions hereof shall inure to the benefit of, and be binding upon, the successors
and permitted assigns of the parties hereto.

 

11.10        Entire
Agreement. This Agreement and other documents delivered pursuant hereto, including the exhibits, constitute the full and entire
understanding and agreement between the parties with regard to the subjects hereof and thereof.

 

11.11          Payment
of Fees and Expenses. Each of the Company and the Purchaser shall bear its own expenses and legal fees incurred on its behalf
with respect to this Agreement and the transactions contemplated hereby. If any action at law or in equity is necessary to enforce
or interpret the terms of this Agreement, the prevailing party shall be entitled to reasonable attorney’s fees, costs and
necessary disbursements in addition to any other relief to which such party may be entitled.

 

11.12          Survival.
 The representations, warranties, covenants and agreements made in this Agreement shall survive any investigation made by the
Company or the Purchaser and the Closing.

 

     14

     

    

 

11.13    Placement
Agents. The Purchaser hereby acknowledges and agrees that (a) the Placement Agents are acting solely as placement agents
in connection with the execution, delivery and performance of the Transaction Documents 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 Purchaser, the Company or any other person or
entity in connection with the execution, delivery and performance of the Transaction Documents, (b) the Placement Agents have
not made and will not make any representation or warranty, whether express or implied, of any kind or character, and has not provided
any advice or recommendation in connection with the execution, delivery and performance of the Transaction Documents, (c) the
Purchaser, in making its investment decision with respect to whether to whether to invest in the Securities has relied in its own
analysis and decision, and has not relied on the Placement Agents or their respective representatives for any purpose, (d) the
Placement Agents will not have any responsibility with respect to (i) any representations, warranties or agreements made by
any person or entity under or in connection with the execution, delivery and performance of the Transaction Documents, or the execution,
legality, validity or enforceability (with respect to any person) thereof, or (ii) the business, affairs, financial condition,
operations, properties or prospects of, or any other matter concerning the Company, and (e) the Placement Agents will not
have any liability or obligation (including without limitation, for or with respect to any losses, claims, damages, obligations,
penalties, judgments, awards, liabilities, costs, expenses or disbursements incurred by the Purchaser, the Company or any other
person or entity), whether in contract, tort or otherwise, to the Purchaser, or to any person claiming through it, in respect of
the execution, delivery and performance of the Transaction Documents.

 

11.14    Exculpation
of the Placement Agents. Each party hereto agrees for the express benefit of the Placements Agents and their respective affiliates
and representatives that:

 

(a)            none
of the Placement Agents, their respective affiliates or any of its representatives (1) has any duties or obligations other
than those specifically set forth herein or in the letter agreement, dated as February 4, 2021 (the “Letter Agreement”),
between the Company and the Placement Agents; (2) shall be liable for any improper payment made in accordance with the information
provided by the Company; (3) makes any representation or warranty, or has any responsibilities as to the validity, accuracy,
value or genuineness of any information, certificates or documentation delivered by or on behalf of the Company pursuant to this
Agreement or the Transaction Documents or in connection with any of the transactions contemplated hereby and thereby; or (4) shall
be liable (x) for any action taken, suffered or omitted by any of them in good faith and reasonably believed to be authorized
or within the discretion or rights or powers conferred upon it by this Agreement or any Transaction Document or (y) for anything
which any of them may do or refrain from doing in connection with this Agreement or any Transaction Document, except in each case
for such party’s own gross negligence, willful misconduct or bad faith.

 

(b)            The
Placement Agents and their respective affiliates and representatives shall be entitled to (1) rely on, and shall be protected
in acting upon, any certificate, instrument, notice, letter or any other document or security delivered to any of them by or on
behalf of the Company, and (2) be indemnified by the Company for acting as the Placement Agents hereunder pursuant to the
indemnification provisions set forth in the Letter Agreement.

 

[signature pages follow]

 

     15

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their duly authorized representatives
as of the day and year first above written.

 

	 	COMPANY:
	 	 	 
	 	ANGION BIOMEDICA CORP.
	 	 	 
	 	 	 
	 	By:	/s/
    Jay Venkatesan
	 	Name:	Jay Venkatesan
	 	Title: 	CEO

 

SIGNATURE PAGES TO

STOCK PURCHASE AGREEMENT

 

     

     

    

 

	 	PURCHASER:
	 	 	 
	 	VIFOR (INTERNATIONAL) LTD.
	 	 	 
	 	 	 
	 	By:	/s/
    Stefan Schulze
	 	Name:	Stefan Schulze
	 	Title:	CEO

 

 

	 	By:	/s/
    Colin Bond
	 	Name:	Colin Bond
	 	Title: 	CFO

 

SIGNATURE PAGES TO

STOCK PURCHASE AGREEMENT

 

     

     

    

 

APPENDIX I

LOCKUP AGREEMENT

 

                      
, 2021

 

Cowen
and Company, LLC

Stifel,
Nicolaus & Company, Incorporated

 

c/o Cowen and Company, LLC

599 Lexington Avenue

New York, New York 10022

 

c/o Stifel, Nicolaus & Company, Incorporated

One Montgomery Street, Suite 3700

San Francisco, CA 94104

 

Re: Angion Biomedica Corp. – Registration
Statement on Form S-1 for Shares of Common Stock

 

Dear Sirs and Madams:

 

This letter agreement (the “Agreement”)
is being delivered to you in connection with the proposed Underwriting Agreement (the “Underwriting Agreement”) between
Angion Biomedica Corp., a Delaware corporation (the “Company”), and Cowen and Company, LLC (“Cowen”) and
Stifel, Nicolaus & Company, Incorporated, as representatives (the “Representatives”) of a group of underwriters
(collectively, the “Underwriters”), to be named therein, relating to the proposed public offering (the “Offering”)
of shares of the common stock, par value $0.01 per share (the “Common Stock”), of the Company.

 

In order to induce you and the other Underwriters
to enter into the Underwriting Agreement, and in light of the benefits that the Offering of the Common Stock will confer upon the
undersigned in its capacity as a securityholder and/or an officer, director or employee of the Company, and for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned agrees with each Underwriter that,
subject to the exceptions set forth in this Agreement, during the period beginning on the date hereof through and including the
date that is the 180th day after the date of the Underwriting Agreement (such period, the “Lock-Up Period”), the undersigned
will not, and will not cause or direct any of its affiliates to, without the prior written consent of the Representatives, directly
or indirectly, (i) offer, sell, assign, transfer, pledge, contract to sell, lend or otherwise dispose of, or announce the
intention to otherwise dispose of, any shares of Common Stock (including, without limitation, Common Stock which may be deemed
to be beneficially owned by the undersigned in accordance with the rules and regulations promulgated under the Securities
Act of 1933, as amended (such shares, the “Beneficially Owned Shares,” and such act, the “Securities Act”))
or securities convertible into or exercisable or exchangeable for Common Stock, (ii) enter, or announce the intention to enter,
into any swap, hedge or similar agreement or arrangement (including, without limitation, the purchase or sale of, or entry into,
any put or call option, or combination thereof, forward, swap or any other derivative transaction or instrument, however described
or defined) that transfers, is designed to transfer or reasonably could be expected to transfer (whether by the undersigned or
someone other than the undersigned) in whole or in part, directly or indirectly, the economic risk of ownership of the Beneficially
Owned Shares or securities convertible into or exercisable or exchangeable for Common Stock, whether now owned or hereafter acquired
by the undersigned or with respect to which the undersigned has or hereafter acquires the power of disposition (the “Prohibited
Activity”), or (iii) engage in, or announce the intention to engage in, any short selling of the Common Stock or securities
convertible into or exercisable or exchangeable for Common Stock. The undersigned represents and warrants that the undersigned
is not, and has not caused or directed any of its affiliates to be or become, currently a party to any agreement or arrangement
that is designed to or which reasonably could be expected to lead to or result in any Prohibited Activity during the Lock-Up Period.

 

     

     

    

 

If the undersigned is an officer or director
of the Company, the undersigned further agrees that the foregoing provisions shall be equally applicable to any issuer-directed
shares of Common Stock the undersigned may purchase in the offering.

 

If the undersigned is an officer or director
of the Company, (i) the Representatives agree that, at least three business days before the effective date of any release
or waiver of the foregoing restrictions in connection with a transfer of shares of Common Stock, the Representatives will notify
the Company of the impending release or waiver, and (ii) the Company has agreed in the Underwriting Agreement to announce
the impending release or waiver by press release through a major news service at least two business days before the effective date
of the release or waiver. Any release or waiver granted by the Representatives hereunder to any such officer or director shall
only be effective two business days after the publication date of such press release. The provisions of this paragraph will not
apply if (a) the release or waiver is effected solely to permit a transfer not for consideration and (b) the transferee
has agreed in writing to be bound by the same terms described in this letter to the extent and for the duration that such terms
remain in effect at the time of the transfer.

 

The restrictions set forth in the second
paragraph of this Agreement shall not apply to:

 

(1)          if
the undersigned is a natural person, any transfers made by the undersigned (a) as a bona fide gift to any member of the immediate
family (as defined below) of the undersigned or to a trust the direct or indirect beneficiaries of which are exclusively the undersigned
or members of the undersigned’s immediate family, (b) by will or intestate succession upon the death of the undersigned
or (c) as a bona fide gift to a charity or educational institution;

 

(2)           if
the undersigned is a corporation, partnership, limited liability company or other business entity, any transfers to any stockholder,
partner or member of, or owner of a similar equity interest in, the undersigned, as the case may be, if, in any such case, such
transfer is not for value;

 

     

     

    

 

(3)           if
the undersigned is a corporation, partnership, limited liability company or other business entity, any transfer made by the undersigned
(a) in connection with the sale or other bona fide transfer in a single transaction of all or substantially all of the undersigned’s
capital stock, partnership interests, membership interests or other similar equity interests, as the case may be, or all or substantially
all of the undersigned’s assets, in any such case not undertaken for the purpose of avoiding the restrictions imposed by
this Agreement or (b) to another corporation, partnership, limited liability company or other business entity so long as the
transferee is an affiliate (as defined below) of the undersigned and such transfer is not for value;

 

(4)            transactions
relating to Common Stock or other securities convertible into or exercisable or exchangeable for Common Stock acquired in the Offering
or in open market transactions after completion of the Offering, provided that (a) no such transaction is required to be,
or is, publicly announced (whether on Form 4, Form 5 or otherwise) during the Lock-Up Period and (b) the undersigned
does not otherwise voluntarily effect any public filing or report regarding such transactions;

 

(5)           the
entry or amendment, by the undersigned, at any time on or after the date of the Underwriting Agreement, of any trading plan providing
for the sale of Common Stock by the undersigned, which trading plan meets the requirements of Rule 10b5-1(c) under the
Securities Exchange Act of 1934, as amended (the “Exchange Act”), provided, however, that such plan or amendment does
not provide for, or permit, the sale of any Common Stock during the Lock-Up Period and no public announcement or filing is voluntarily
made or required regarding such plan during the Lock-Up Period;

 

(6)          any
transfers made by the undersigned to the Company to satisfy tax withholding obligations pursuant to the Company’s equity
incentive plans or arrangements disclosed in the Prospectus (as defined in the Underwriting Agreement);

 

(7)           if
the undersigned is a trust, any transfers made by the undersigned to a trustor or beneficiary of the trust, provided that such
transfer is not for value;

 

(8)        any
transfers made pursuant to a court or regulatory agency order or by operation of law, including pursuant to a domestic order or
a negotiated divorce settlement;

 

(9)           any
transfers to the Company pursuant to agreements under which the Company has the option to repurchase such securities or the Company
has a right of first refusal with respect to transfers of such securities;

 

(10)         any
transfers pursuant to a bona fide third-party tender offer, merger, consolidation or other similar transaction, approved by the
Board of Directors of the Company, made to all holders of Common Stock involving a change of control of the Company, provided that,
in the event that such tender offer, merger, consolidation or other similar transaction is not completed, any shares of Common
Stock or securities convertible into or exercisable or exchangeable for Common Stock held by the undersigned shall remain subject
to the restrictions on transfer set forth in this Agreement;

 

     

     

    

 

(11)      if
the undersigned is an investment company registered under the Investment Company Act of 1940, as amended (a “Mutual Fund”),
pursuant to a merger or reorganization with or into another Mutual Fund that shares the same investment adviser registered pursuant
to the requirements of the Investment Advisers Act of 1940, as amended; and

 

(12)      the
conversion of the outstanding shares of preferred stock of the Company into Common Stock in connection with the consummation of
the Offering as described in the Prospectus, provided that any such Common Stock received upon such conversion shall be subject
to the provisions of this Agreement;

 

provided,
however, that (A) in the case of any transfer described in clause (1), (2), (3), (7), (8) or (11) above, it shall
be a condition to the transfer that the transferee executes and delivers to the Representatives, acting on behalf of the Underwriters,
not later than one business day prior to such transfer, a written agreement, in substantially the form of this Agreement (it being
understood that any references to “immediate family” in the agreement executed by such transferee shall expressly refer
only to the immediate family of the undersigned and not to the immediate family of the transferee) and otherwise satisfactory in
form and substance to the Representatives, and (B) in the case of any transfer described in clause (1), (2), (3), (6), (7),
(8), (9) or (11) above, no public announcement or filing is voluntarily made regarding such transfer during the Lock-Up Period
and if the undersigned is required to file a report under Section 16(a) of the Exchange Act reporting a reduction in
beneficial ownership of shares of Common Stock or Beneficially Owned Shares or any securities convertible into or exercisable or
exchangeable for Common Stock or Beneficially Owned Shares during the Lock-Up Period, the undersigned shall include a statement
in such report to the effect that, (i) in the case of any transfer pursuant to clause (1) above, such transfer is
being made as a gift or by will or intestate succession, (ii) in the case of any transfer pursuant to clause (2) above,
such transfer is being made to a stockholder, partner or member of, or owner of a similar equity interest in, the undersigned and
is not a transfer for value and (iii) in the case of any transfer pursuant to clause (3) above, such transfer is being
made either (a) in connection with the sale or other bona fide transfer in a single transaction of all or substantially all
of the undersigned’s capital stock, partnership interests, membership interests or other similar equity interests, as the
case may be, or all or substantially all of the undersigned’s assets or (b) to another corporation, partnership, limited
liability company or other business entity that is an affiliate of the undersigned and such transfer is not for value, (iv) in
the case of any transfer pursuant to clause (6) above, such transfer is being made to satisfy tax withholding obligations,
(v) in the case of any transfer pursuant to clause (7) above, such transfer is being made to a trustor or beneficiary
and is not a transfer for value, (vi) in the case of any transfer pursuant to clause (8) above, such transfer is made
pursuant to a court or regulatory agency order or by operation of law, (vii) in the case of any transfer pursuant to clause
(9) above, such transfer is being made to the Company pursuant to agreements under which the Company has the option to repurchase
such securities or the Company has a right of first refusal with respect to transfers of such securities, (viii) in the case
of any transfer pursuant to clause (11) above, such transfer is being made pursuant to a merger or reorganization with or into
another Mutual Fund that shares the same investment adviser registered pursuant to the requirements of the Investment Advisers
Act of 1940, as amended, and (ix) in the case of any transfer pursuant to clause (1), (2), (3), (7), (8) or (11) above,
that the shares remain subject to the terms of this Agreement. For purposes of this paragraph, “immediate family” shall
mean a spouse, domestic partner, child, grandchild or other lineal descendant (including by adoption), father, mother, brother
or sister of the undersigned; and “affiliate” shall have the meaning set forth in Rule 405 under the Securities
Act. As used herein, “change of control” shall mean the transfer (whether by tender offer, merger, consolidation or
other similar transaction), in one transaction or a series of related transactions, to a person or group of affiliated persons,
of shares of capital stock if, after such transfer, such person or group of affiliated persons would hold more than 50% of the
outstanding voting securities of the Company or the surviving entity.

 

     

     

    

 

For
avoidance of doubt, nothing in this Agreement prohibits the undersigned from exercising any options or warrants to purchase Common
Stock (which exercises may be effected on a cashless basis to the extent the instruments representing such options or warrants
permit exercises on a cashless basis), it being understood that any Common Stock issued upon such exercises will be subject to
the restrictions of this Agreement and provided, however, that no public announcement or filing is voluntarily made regarding such
exercise during the Lock-Up Period and provided that if the undersigned is required to file a report under Section 16(a) of
the Exchange Act reporting a reduction in beneficial ownership of such options or warrants during the Lock-Up Period, the undersigned
shall include a statement in such report to the effect that the disposition relates to the exercise of an option or warrant, as
applicable, and that the shares of Common Stock received upon exercise are subject to the restrictions of this Agreement.

 

In order to enable this covenant to be
enforced, the undersigned hereby consents to the placing of legends or stop transfer instructions with the Company’s transfer
agent with respect to any Common Stock or securities convertible into or exercisable or exchangeable for Common Stock.

 

The undersigned further agrees that it
will not, during the Lock-Up Period, make any demand or request for or exercise any right with respect to the registration under
the Securities Act of any shares of Common Stock or other Beneficially Owned Shares or any securities convertible into or exercisable
or exchangeable for Common Stock or other Beneficially Owned Shares.

 

The
undersigned hereby represents and warrants that the undersigned has full power and authority to enter into this Agreement and that
this Agreement has been duly authorized (if the undersigned is not a natural person), executed and delivered by the undersigned
and is a valid and binding agreement of the undersigned. This Agreement and all authority herein conferred are irrevocable
and shall survive the death or incapacity of the undersigned (if a natural person) and shall be binding upon the heirs, personal
representatives, successors and assigns of the undersigned.

 

This Agreement shall be governed by and
construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in such
state.

 

This Agreement may be delivered via facsimilie,
electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com
or www.echosign.com) or other transmission method and any copy so delivered shall be deemed to have been duly and validly delivered
and be valid and effective for all purposes.

 

     

     

    

 

If
(i) prior to the execution of the Underwriting Agreement, either the Representatives notify the Company in writing that they
do not intend to proceed with the Offering or the Company notifies the Representatives in writing that it does not intend to proceed
with the Offering, (ii) the Underwriting Agreement is not executed by July 31, 2021; provided that the Company
may by written notice to the undersigned prior to July 31, 2021 extend such date for a period of up to three additional months,
or (iii) the Underwriting Agreement (other than the provisions thereof which survive termination) shall terminate or
be terminated for any reason prior to payment for and delivery of any Common Stock to be sold thereunder, then this Agreement shall
immediately be terminated and the undersigned shall automatically be released from all of his, her or its obligations under this
Agreement. The undersigned acknowledges and agrees that whether or not any public offering of Common Stock actually occurs depends
on a number of factors, including market conditions.

 

[Signature page follows]

 

     

     

    

 

	 	Very truly yours,
	 	 	 
	 	 	 
	 	 
	 	(Name of Securityholder - Please Print)
	 	 	 
	 	 	 
	 	 
	 	(Signature)
	 	 	 
	 	 	 
	 	 
	 	(Name of Signatory if Securityholder is an entity - Please Print)
	 	 	 
	 	 	 
	 	 
	 	(Title of Signatory if Securityholder is an entity - Please Print)
	 	 	 
	 	 	 
	 	Address:	 
	 	 	 
	 	 	 

 

     

     

    

 

Appendix II

 

Required Waiver Disclosure

 

On December 6, 2016, a final judgment (the “Judgment”)
was entered against Stifel, Nicolaus & Company, Incorporated (“Stifel”) by the United States District
Court for the Eastern District of Wisconsin (Civil Action No. 2:11-cv-00755) resolving a civil lawsuit filed by the U.S. Securities &
Exchange Commission (the “SEC”) in 2011 involving violations of several antifraud provisions of the federal securities
laws in connection with the sale of synthetic collateralized debt obligations to five Wisconsin school districts in 2006. As a
result of the Judgment: (i) Stifel is required to cease and desist from committing or causing any violations and any future
violations of Section 17(a)(2) and 17(a)(3) of the Securities Act; and (ii) Stifel and a former employee were
jointly liable to pay disgorgement and prejudgment interest of $2.5 million. Stifel was also required to pay a civil penalty of
$22.0 million, of which disgorgement and civil penalty Stifel was required to pay $12.5 million to the school districts involved
in this matter.

 

Simultaneously with the entry of the Judgment, the SEC issued
an Order granting Stifel a waiver from, among other things, the application of the disqualification provisions of Rule 506(d)(1)(iv) of
Regulation D under the Securities Act.

 

A copy of the Judgment is available on the SEC’s website
at: https://www.sec.gov/litigation/litreleases/2016/lr23700-final-judgment.pdfEX-10.1

 Exhibit 10.1 

[            ], 2021 

NightDragon Acquisition Corp. 
 101 Second Street, Suite 1275

 San Francisco, California 94105 
 Re:
Initial Public Offering 
 Ladies and Gentlemen: 

This letter (this “Letter Agreement”) is being delivered to you in accordance with the Underwriting Agreement (the
“Underwriting Agreement”) entered into by and among NightDragon Acquisition Corp., a Delaware corporation (the “Company”), and Morgan Stanley & Co. LLC (the
“Underwriter”), relating to an underwritten initial public offering (the “Public Offering”), of 34,500,000 of the Company’s units (including up to 4,500,000 units that may be purchased solely to
cover over-allotments, if any) (the “Units”), each comprised of one share of the Company’s Class A common stock, par value $0.00001 per share (the “Class A Common
Stock”), and one third of one redeemable warrant. Each whole warrant (each, a “Warrant”) entitles the holder thereof to purchase one share of Class A Common Stock at a price of $11.50 per share, subject to
adjustment. The Units will be sold in the Public Offering pursuant to a registration statement on Form S-1 (File
No. 333-[            ]) and prospectus (the “Prospectus”) filed by the Company with the U.S. Securities and Exchange
Commission (the “Commission”) and the Company has applied to have the Units listed on The Nasdaq Capital Market. Certain capitalized terms used herein are defined in Section 13 hereof. 

In order to induce the Company and the Underwriter 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, each of NightDragon Acquisition Sponsor, LLC (the “Sponsor”) and the undersigned individuals, each of whom is a member of
the Company’s board of directors, management team and/or is an advisor to the Company (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 (whether acquired before or after the date hereof) in favor of any proposed Business
Combination and (ii) not redeem any shares of Capital Stock owned by it, him or her (whether acquired before or after the date hereof) in connection with such stockholder approval. If the Company engages in a tender offer in connection with any
proposed Business Combination, the Sponsor and each Insider agrees that it, he or she will not seek to sell its, his or her shares of Capital Stock (whether acquired before or after the date hereof) to the Company in connection with such tender
offer. 
 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 27 months from the closing of the Public Offering if the Company has executed a letter of intent, agreement in principle or definitive agreement for a Business
Combination within 24 months from the closing of the Public Offering) or such later period as may be approved by the Company’s stockholders in accordance with the Company’s amended and restated certificate of incorporation (the
“Charter”), 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, redeem 100% of the Class A Common Stock sold as part of the Units in the Public Offering (the
“Offering Shares”), at a per-share price, payable in cash and out of funds legally available therefor, equal to the aggregate amount then on deposit in the Trust Account (as defined
below), including interest earned on the funds held in the Trust Account and not previously released to the Company to pay its taxes (less up to $100,000 of interest to pay dissolution expenses), 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 liquidation 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 not to propose any amendment to the Charter (i) to modify the substance or timing of the Company’s obligation to allow redemption
in connection with a Business Combination or 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 27 months from the closing of the Public Offering
if the Company has executed a letter of intent, agreement in principle or definitive agreement for a Business Combination within 24 months from the closing of the Public Offering or (ii) with respect to any other provision relating to
stockholders’ rights or pre-Business Combination activity, unless the Company provides the Public Stockholders with the opportunity to redeem their shares of Class A Common Stock upon approval of any
such amendment at a per-share price, payable in cash and out of funds legally available therefor, equal to the aggregate amount then on deposit in the Trust Account, including interest (which interest shall be
net of taxes payable) 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 shares of Class B Common Stock or Private
Placement Shares held by it, him or her. The Sponsor and each Insider hereby further waives, with respect to any shares of Class A Common Stock held by it, him or her, if any (whether acquired before or after the date hereof), 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 (i) a stockholder vote to approve such Business Combination, (ii) a
stockholder vote to approve an amendment to the Charter (A) to modify the substance or timing of the Company’s obligation to allow redemption in connection with a Business Combination or 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 27 months from the closing of the Public Offering if the Company has executed a letter of intent, agreement in principle or definitive agreement
for a Business Combination within 24 months from the closing of the Public Offering or (B) with respect to any other provision relating to stockholders’ rights or pre-Business Combination activity,
unless the Company provides the Public Stockholders with the opportunity to redeem their shares of Class A Common Stock upon approval of any such amendment at a per-share price, payable in cash and out of
funds legally available therefor, equal to the aggregate amount then on deposit in the Trust Account, including interest (which interest shall be net of taxes payable) divided by the number of then outstanding Offering Shares, or (iii) in the
context of a tender offer made by the Company to purchase shares of Class A Common Stock (although the Sponsor, the Insiders and their respective affiliates shall be entitled to liquidation distributions with respect to any Offering Shares it
or they hold if the Company fails to consummate a Business Combination within the time period set forth in the Charter). 

3.    The Sponsor and each Insider acknowledges and agrees that prior to entering into a definitive agreement for a
Business Combination with a target business that is affiliated with the Sponsor or any Insider of the Company or their affiliates, such transaction must be approved by a majority of the Company’s disinterested independent directors and the
Company must obtain an opinion from an independent investment banking firm that such Business Combination is fair to the Company from a financial point of view. 

 4.    During the period commencing on the date of the Underwriting
Agreement and ending 180 days after such date, the Sponsor and each Insider shall not, other than to permitted transferees as described in and subject to Section 9(c) below, without the prior written consent of the Underwriter, offer, sell,
contract to sell, pledge or otherwise dispose of (or enter into any transaction that is designed to, or might reasonably be expected to, result in the disposition of (whether by actual disposition or effective economic disposition due to cash
settlement or otherwise) by the Sponsor or such Insider or any affiliate of the Sponsor or such Insider or any person in privity with the Sponsor or such Insider or any affiliate of the Sponsor or such Insider), 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 (the “Exchange Act”), and the rules and
regulations of the Commission promulgated thereunder (“Section 16”), with respect to any Units, shares of Capital Stock, Warrants or any securities convertible into, or exercisable, or
exchangeable for, shares of Capital Stock owned by it, him or her, or publicly announce an intention to effect any such transaction; provided, however, for the avoidance of doubt, that the foregoing restrictions shall not apply to the forfeiture of
a portion of the Class B Common Stock pursuant to Section 6 of this Agreement. The provisions of this Section will not apply if (i) the release or waiver is effected solely to permit a transfer of securities without consideration and
(ii) the transferee has agreed in writing to be bound by the same terms described in this Letter Agreement to the extent and for the duration that such terms remain in effect at the time of the transfer. 

5.    In the event of the liquidation of the Trust Account upon the failure of the Company to consummate its Business
Combination within the time period set forth in the Charter, the Sponsor (the “Indemnitor”) 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) to which the Company may become subject as a result of any claim
by (i) any third party for services rendered or products sold to the Company or (ii) any prospective target business with which the Company has entered into a written letter of intent, confidentiality or other similar agreement or Business
Combination agreement (a “Target”); provided, however, that such indemnification of the Company by the Indemnitor shall (x) apply only to the extent necessary to ensure that such claims by a third party or a Target do
not reduce the amount of funds in the Trust Account to below the lesser of (i) $10.00 per Offering Share and (ii) the actual amount per Offering Share held in the Trust Account as of the date of the liquidation of the Trust Account, if less
than $10.00 per Offering Share is then held in the Trust Account due to reductions in the value of the trust assets, less interest earned on the Trust Account which may be withdrawn to pay taxes, (y) not apply to any claims by a third party or
a Target which executed a waiver of any and all rights to the monies held in the Trust Account (whether or not such waiver is enforceable) and (z) not apply to any claims under the Company’s indemnity of the Underwriter against certain
liabilities, including liabilities under the Securities Act of 1933, as amended. The Indemnitor 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 Indemnitor, the Indemnitor notifies the Company in writing that it shall undertake such defense. 

6.    To the extent that the Underwriter does not exercise its over-allotment option to purchase up to an additional
4,500,000 Units in full within 45 days from the date of the Prospectus (and as further described in the Prospectus), the Sponsor agrees to forfeit, at no cost, a number of shares of Class B Common Stock in the aggregate equal to 1,125,000
multiplied by a fraction, (i) the numerator of which is 4,500,000 minus the number of Units purchased by the Underwriter upon the exercise of its over-allotment option, and (ii) the denominator of which is 4,500,000. The Sponsor will be
required to forfeit only that number of shares of Class B Common Stock as is necessary so that it will own an aggregate of 20.0% of the Company’s issued and outstanding shares of Capital Stock after the Public Offering (not including the
Private Placement Shares). 

 7.    The Sponsor and each Insider agrees not to participate in the
formation of, or become an officer or director of, any special purpose acquisition company with a class of securities registered under the Exchange Act, other than the Company, until the Company has entered into a definitive agreement regarding a
Business Combination or the Company has failed to complete a Business Combination within the time period specified in the Company’s Charter or during any extended time to consummate a business combination beyond 24 months as a result of a
stockholder vote to amend the Company’s Charter. 
 8.    The Sponsor and each Insider hereby agrees and
acknowledges that: (i) the Underwriter 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 Sections 1, 2, 4, 5, 6, 9(a), 9(b), and 11, as applicable, 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. 
 9.    (a) The Sponsor and each Insider agrees
that it, he or she shall not Transfer its, his or her shares of Class B Common Stock (or the shares of Class A Common Stock into which such shares are convertible) until the earlier of (A) six months after the date of the consummation
of the Company’s Business Combination and (B) the date on which the Company consummates a subsequent liquidation, merger, reorganization or other similar transaction which results in all of the Public Stockholders having the right to
exchange their shares of Class A Common Stock for cash, securities or other property (the “Class B Common Stock Lock-up Period”). 

(b)    The Sponsor and each Insider agrees that it, he or she shall not Transfer any Private Placement Units, the Private
Placement Shares, the Private Placement Warrants or shares of Class A Common Stock issued or issuable upon the exercise of the Private Placement Warrants, until 30 days after the completion of the Company’s Business Combination (the
“Private Placement Units Lock-up Period”, together with the Class B Common Stock Lock-up Period, the “Lock-up Periods”). 
 (c)    Notwithstanding the provisions set forth in
Sections 9(a) and (b), Transfers of the Class B Common Stock, Private Placement Units, Private Placement Shares, Private Placement Warrants and shares of Class A Common Stock issued or issuable upon the exercise or conversion of the
Private Placement Warrants or the Class B Common Stock that are held by the Sponsor, any Insider or any of their permitted transferees (that have complied with this Section 9(c)), are permitted (a) to the Company’s officers,
directors, advisors, any affiliate or family member of any of the Company’s officers, directors or advisors or any members or partners of the Sponsor or their affiliates, any affiliates of the Sponsor, or any employees of such affiliates;
(b) in the case of an individual, by gift to a member of such individual’s immediate family or to a trust, the beneficiary of which is a member of such individual’s immediate family, an affiliate of such individual or to a charitable
organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon death of the individual; (d) in the case of an individual, pursuant to a qualified domestic relations order; (e) 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) by virtue of our Sponsor’s organizational documents upon liquidation or
dissolution of the Sponsor; (g) to the Company for no value for cancellation in connection with the completion of a Business Combination; (h) in the event of the Company’s liquidation prior to the completion of a Business Combination;
or (i) in the event of the Company’s completion of a liquidation, merger, or other similar transaction which results in all Public Stockholders having the right to exchange their Class A

 
Common Stock for cash, securities or other property subsequent to the completion of a Business Combination; provided, however, that in the case of clauses (a) through (f), these permitted
transferees must enter into a written agreement with the Company agreeing to be bound by the transfer restrictions herein. 

10.    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. Each Insider’s questionnaire furnished to the Company is true and accurate in
all respects. 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. 

11.    Except as disclosed in the Prospectus, neither the Sponsor nor any officer, director, advisor or any affiliate of
the Sponsor, officer, director or advisor 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 Business Combination (regardless of the type of transaction that it is). 

12.    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 an officer or advisor and/or director on the board of directors of the Company and hereby consents to being named in the Prospectus as an officer or advisor and/or director of the Company. 

13.    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 Class A Common Stock and the
8,625,000 shares of the Company’s Class B common stock, par value $0.00001 per share (the “Class B Common Stock) purchased by the Sponsor in a private placement, up to 1,125,000 shares of
which are subject to forfeiture by the Sponsor if the over-allotment option is not exercised by the Underwriter; (iii) “Private Placement Shares” shall mean the 900,000 shares (or up to 1,035,000 shares if the over-allotment
option is exercised in full) of Class A Common Stock comprising the Private Placement Units; (iv) “Private Placement Units” shall mean the 900,000 units (or up to 1,035,000 units if the over-allotment
option is exercised in full), each comprised of one share of Class A Common Stock and one-third of one warrant to purchase one share of Class A Common Stock, that the Sponsor has agreed to purchase
for an aggregate purchase price of $9,000,000 in the aggregate (or up to $10,350,000 if the over-allotment option is exercised in full), or a purchase price of $10.00 per Private Placement Unit, in a private placement that shall occur simultaneously
with the consummation of the Public Offering; (v) “Private Placement Warrants” shall mean the Warrants to purchase up to 300,000 shares of Class A Common Stock (or up to 345,000 shares of Class A Common Stock if the
over-allotment option is exercised in full) that are part of the Private Placement Units; (vi) “Public Stockholders” shall mean the holders of securities 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 shall be deposited; and (viii) “Transfer” shall mean the offer, sale, contract to sell, pledge, or other
disposition of (or entry into any transaction that is designed to, or might reasonably be expected to, result in the disposition of (whether by actual disposition or effective economic 

 
disposition due to cash settlement or otherwise)), directly or indirectly, or the establishment or increase of a put equivalent position or liquidation or decrease of a call equivalent position
within the meaning of Section 16, and the rules and regulations of the Commission promulgated thereunder, with respect to, any security, or the public announcement of an intention to effect any such transaction. 

14.    The Company will maintain an insurance policy or policies providing directors’ and officers’ liability
insurance, and each director or officer shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for any of the Company’s directors or officers. 

15.    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, except that any waiver need only be
executed by the party waiving its rights hereunder. 
 16.    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 Section 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. 

17.    Nothing in this Letter Agreement shall be construed to confer upon, or give to, any person or entity other than the
parties hereto any right, remedy or claim under or by reason of this Letter Agreement or of any covenant, condition, stipulation, promise or agreement hereof. All covenants, conditions, stipulations, promises and agreements contained in this Letter
Agreement shall be for the sole and exclusive benefit of the parties hereto and their successors, heirs, personal representatives and assigns and permitted transferees. 

18.    This Letter Agreement may be executed in any number of original or facsimile counterparts and each of such
counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. 

19.    This Letter Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision
hereof shall not affect the validity or enforceability of this Letter Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be
added as a part of this Letter Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable. 

20.    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. 

 21.    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, facsimile transmission, or e-mail. 
 22.    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 June 30, 2021; provided further that Section 5 of this Letter Agreement shall survive such liquidation. 

23.    The Company, the Sponsor and each Insider hereby acknowledges and agrees that the Underwriter is a third party
beneficiary of this Letter Agreement. 
 [Signature Page Follows] 

 Exhibit 10.1 

Sincerely, 
  

	
	NIGHTDRAGON ACQUISITION SPONSOR, LLC
	
	E-mail addresses for notices to NightDragon Acquisition Sponsor, LLC:
	
	david@nightdragon.com 
	
	morgan@nightdragon.com

  

			
	By:	 	  

 
			
	Name: David DeWalt
	Title: Managing Member

 
			
		
	By:	 	  

 
			
	Name: Morgan Kyauk
	Title: Managing Member

 Acknowledged and Agreed: 
  

	
	NIGHTDRAGON ACQUISITION CORP.
	E-mail address for notices to NightDragon Acquisition Corp.: steve@nightdragon.com

 

			
	By:	 	  

			
	Name: Morgan Kyauk
	Title: Chief Executive Officer

			
		
	By:	 	  

			
	 Name: David DeWalt

	Title: Director

			
		
	By:	 	  

			
	Name: Mark Garrett
	Title: Director

			
		
	By:	 	  

			
	Name: Ken Gonzalez
	Title: Director

			
		
	By:	 	  

			
	Name: Steve Simonian
	Title: Chief Financial Officer

			
		
	By:	 	  

			
	Name: Barbara Massa
	Title: Advisor

			
		
	By:	 	  

			
	Name: Kara Wilson
	Title: Advisor

 [Signature Page to Letter Agreement]

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