Document:

Exhibit 10.6

 

UNIT SUBSCRIPTION AGREEMENT

 

This UNIT SUBSCRIPTION
AGREEMENT (this “Agreement”) is made as of _________, 2021, by and between Twelve Seas Investment Company II,
a Delaware corporation (the “Company”), having its principal place of business at 2685 Nottingham Avenue, Los
Angeles, CA 90027, and Twelve Seas Sponsor II LLC, a Delaware limited liability company (the “Subscriber”),
having its principal place of business at 2685 Nottingham Avenue, Los Angeles, CA 90027.

 

WHEREAS, the Company
desires to sell to the Subscriber on a private placement basis (the “Placement”) an aggregate of 500,000 units
(the “Initial Units”) of the Company, and up to an additional 45,000 units (the “Additional Units”
and, together with the Initial Units, the “Units”) in the event that the underwriters’ 45-day over-allotment
option (“Over-Allotment Option”) is exercised in full or part, each Unit comprised of one share of Class A common
stock of the Company, par value $0.0001 per share (“Common Stock”) and one-half of one warrant, each whole warrant
exercisable to purchase one share of Common Stock (“Warrant”), for a purchase price of $10.00 per Unit. The
shares of Common Stock underlying the Warrants are hereinafter referred to as the “Warrant Shares”.  The
shares of Common Stock underlying the Units (excluding the Warrant Shares) are hereinafter referred to as the “Placement
Shares.” The Warrants underlying the Units are hereinafter referred to as the “Placement Warrants.”  The
Units, Placement Shares, Placement Warrants and Warrant Shares, collectively, are hereinafter referred to as the “Securities.”  Each
whole Placement Warrant is exercisable to purchase one share of Common Stock at an exercise price of $11.50 during the period commencing
on the later of (i) twelve (12) months from the date of the closing of the Company’s initial public offering of units (the
“IPO”) and (ii) 30 days following the consummation of the Company’s initial business combination (the
“Business Combination”), as such term is defined in the registration statement in connection with the IPO, as
amended at the time it becomes effective (the “Registration Statement”), and expiring on the fifth anniversary
of the consummation of the Business Combination; and

 

WHEREAS, the Subscriber
wishes to purchase the Initial Units and up to 45,000 Additional Units, and the Company wishes to accept such subscription from
the Subscriber.

 

NOW, THEREFORE, in
consideration of the premises and the mutual covenants hereinafter set forth and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the Company and the Subscriber hereby agree as follows:

 

1. Agreement
to Subscribe

 

1.1. Purchase and Issuance
of the Initial Units. Upon the terms and subject to the conditions of this Agreement, the Subscriber hereby agrees to purchase
from the Company, and the Company hereby agrees to sell to the Subscriber, on the Initial Closing Date (as defined below) the Initial
Units in consideration of the payment of the Purchase Price (as defined below). On the Initial Closing Date, the Company shall,
at its option, deliver to the Subscriber the certificates representing the Securities purchased or effect such delivery in book-entry
form.

 

1.2. Purchase Price.
The Subscriber shall pay $5,000,000 (the “Purchase Price”) by wire transfer of immediately available funds or
by such other method as may be reasonably acceptable to the Company, to the trust account (the “Trust Account”)
at a financial institution to be chosen by the Company, maintained by Continental Stock Transfer & Trust Company, acting as
trustee (“Continental”), one (1) business day prior to the date of effectiveness of the Registration Statement.

 

1.3. Initial Closing.
The closing of the purchase and sale of 500,000 Initial Units shall take place simultaneously with the closing of the IPO (the
“Initial Closing Date”). The closing of such Units shall take place at the offices of Ellenoff Grossman &
Schole LLP, 1345 Avenue of the Americas, 11th Floor, New York, New York, 10105, or such other place as may be agreed
upon by the parties hereto.

 

1.4. Purchase and Issuance
of Additional Units. Upon the terms and subject to the conditions of this Agreement, the Subscriber hereby agrees to purchase from
the Company, and the Company hereby agrees to sell to the Subscriber, on the Over-allotment Closing Date (as defined below) up
to an aggregate of 45,000 Additional Units in consideration of the payment of $10.00 per Additional Unit for a purchase price of
up to $45,000 and in the same proportion as the amount of the Over-Allotment Option is exercised. On the Over-Allotment Closing
Date (as defined below), the Company shall, at its option, deliver to the Subscriber the certificates representing the Securities
purchased or effect such delivery in book-entry form.

 

     

     

    

 

1.5. Purchase Price.
As payment in full for the Additional Units being purchased under this Agreement, the Subscriber shall pay $10.00 per Additional
Unit being purchased by wire transfer of immediately available funds or by such other method as may be reasonably acceptable to
the Company, to the Trust Account on the date of the consummation of the closing of the over-allotment option, and concurrently
with the consummation thereof, or on such earlier time and date as may be mutually agreed by the Company and the Subscriber (each
such date, an “Over-Allotment Closing Date”; together with the Initial Closing Date, the “Closing Dates”
and each, a “Closing Date”).

 

1.6. Over-Allotment
Closing. The Over-Allotment Closing Date shall take place at the offices of Ellenoff Grossman & Schole LLP, 1345 Avenue of
the Americas, 11th Floor, New York, New York, 10105, or such other place as may be agreed upon by the parties hereto.

 

1.7 Termination. This
Agreement and each of the obligations of the undersigned shall be null and void and without effect if the Initial Closing Date
does not occur prior to June 30, 2021.

 

2. Representations
and Warranties of the Subscriber

 

The Subscriber represents and warrants to
the Company that:

 

2.1. No Government
Recommendation or Approval.  The Subscriber understands that no federal or state agency has passed upon or made any recommendation
or endorsement of the Company or the Placement of the Securities.

 

2.2. Accredited
Investor. The Subscriber represents that it is an “accredited investor” as such term is defined in Rule 501(a) of Regulation
D under the Securities Act of 1933, as amended (the “Securities Act”), and acknowledges that the sale contemplated
hereby is being made in reliance, among other things, on a private placement exemption to “accredited investors” under
the Securities Act and similar exemptions under state law.

 

2.3. Intent.  The
Subscriber is purchasing the Securities solely for investment purposes, for the Subscriber’s own account (and/or for the
account or benefit of its members or affiliates, as permitted, pursuant to the terms of an agreement (the “Insider Letter”)
to be entered into with respect to the Securities between, among others, the Subscriber  and the Company, as described
in the Registration Statement), and not with a view to the distribution thereof and the Subscriber has no present arrangement to
sell the Securities to or through any person or entity except as may be permitted under the Insider Letter.  The Subscriber
shall not engage in hedging transactions with regard to the Securities unless in compliance with the Securities Act.

   

2.4. Restrictions on
Transfer.  The Subscriber acknowledges and understands the Units are being offered in a transaction not involving a public
offering in the United States within the meaning of the Securities Act.  The Securities have not been registered under
the Securities Act and, if in the future the Subscriber decides to offer, resell, pledge or otherwise transfer the Securities,
such Securities may be offered, resold, pledged or otherwise transferred only (A) pursuant to an effective registration statement
filed under the Securities Act, (B) pursuant to an exemption from registration under Rule 144 promulgated under the Securities
Act, if available, or (C) pursuant to any other available exemption from the registration requirements of the Securities Act,
and in each case in accordance with any applicable securities laws of any state or any other jurisdiction. Notwithstanding the
foregoing, the Subscriber acknowledges and understands the Securities are subject to transfer restrictions as described in Section
8 hereof. The Subscriber agrees that if any transfer of its Securities or any interest therein is proposed to be made, as a condition
precedent to any such transfer, the Subscriber may be required to deliver to the Company an opinion of counsel satisfactory to
the Company with respect to such transfer. Absent registration or another available exemption from registration, the Subscriber
agrees it will not resell the Securities (unless otherwise permitted pursuant to the Insider Letter, as described in the Registration
Statement).  The Subscriber further acknowledges that because the Company is a shell company, Rule 144 may not be available
to the Subscriber for the resale of the Securities until the one year anniversary following consummation of the initial Business
Combination of the Company, despite technical compliance with the requirements of Rule 144 and the release or waiver of any contractual
transfer restrictions.

  

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2.5. Sophisticated
Investor.

 

(i)  The
Subscriber is sophisticated in financial matters and is able to evaluate the risks and benefits of the investment in the Securities.

 

(ii) The Subscriber
is aware that an investment in the Securities is highly speculative and subject to substantial risks because, among other things,
the Securities are subject to transfer restrictions and have not been registered under the Securities Act and therefore cannot
be sold unless subsequently registered under the Securities Act or an exemption from such registration is available. The Subscriber
is able to bear the economic risk of its investment in the Securities for an indefinite period of time.

 

2.6. Independent Investigation.  The
Subscriber, in making the decision to purchase the Units, has relied upon an independent investigation of the Company and has not
relied upon any information or representations made by any third parties or upon any oral or written representations or assurances
from the Company, its officers, directors or employees or any other representatives or agents of the Company, other than as set
forth in this Agreement. The Subscriber is familiar with the business, operations and financial condition of the Company and has
had an opportunity to ask questions of, and receive answers from the Company’s officers and directors concerning the Company
and the terms and conditions of the offering of the Units and has had full access to such other information concerning the Company
as the Subscriber has requested. The Subscriber confirms that all documents that it has requested have been made available and
that the Subscriber has been supplied with all of the additional information concerning this investment which the Subscriber has
requested.

 

2.7. Organization and
Authority.  The Subscriber is duly organized, validly existing and in good standing under the laws of the State of Delaware
and it possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement.

 

2.8. Authority. This
Agreement has been validly authorized, executed and delivered by the Subscriber and is a valid and binding agreement enforceable
in accordance with its terms, subject to the general principles of equity and to bankruptcy or other laws affecting the enforcement
of creditors’ rights generally.

  

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

 

2.10. No Legal Advice
from Company.  The Subscriber acknowledges it has had the opportunity to review this Agreement and the transactions contemplated
by this Agreement and the other agreements entered into between the parties hereto with the Subscriber’s own legal counsel
and investment and tax advisors.  Except for any statements or representations of the Company made in this Agreement
and the other agreements entered into between the parties hereto, the Subscriber is relying solely on such counsel and advisors
and not on any statements or representations of the Company or any of its representatives or agents for legal, tax or investment
advice with respect to this investment, the transactions contemplated by this Agreement or the securities laws of any jurisdiction.

 

2.11. Reliance on Representations
and Warranties.  The Subscriber understands the Units are being offered and sold to the Subscriber in reliance on exemptions
from the registration requirements under the Securities Act, and analogous provisions in the laws and regulations of various states,
and that the Company is relying upon the truth and accuracy of the representations, warranties, agreements, acknowledgments and
understandings of the Subscriber set forth in this Agreement in order to determine the applicability of such provisions.

 

2.12. No General Solicitation.  The
Subscriber is not subscribing for the Units as a result of or subsequent to any general solicitation or general advertising, including
but not limited to any advertisement, article, notice or other communication published in any newspaper, magazine, or similar media
or broadcast over television or radio, or presented at any seminar or meeting or in a registration statement with respect to the
IPO filed with the Securities and Exchange Commission (“SEC”).

 

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2.13. Legend.  The
Subscriber acknowledges and agrees the certificates (if any) evidencing each of the Securities shall bear a restrictive legend
(the “Legend”), in form and substance substantially as set forth in Section 4 hereof.

 

3.  Representations,
Warranties and Covenants of the Company

 

The Company represents
and warrants to, and agrees with, the Subscriber that:

 

3.1. Valid Issuance
of Capital Stock. The total number of shares of all classes of capital stock which the Company has authority to issue is 100,000,000
shares of Class A Common Stock, 10,000,000 shares of Class B Common Stock, $0.0001 par value per share (the “Class B Common
Stock”), and 1,000,000 shares of preferred stock, $0.0001 par value per share (“Preferred Stock”).
As of the date hereof, the Company has issued and outstanding 7,187,500 shares of Class B Common Stock (of which up to 937,500
shares are subject to forfeiture as described in the Registration Statement), no shares of Class A Common Stock and no shares of
Preferred Stock. All of the issued shares of capital stock of the Company have been duly authorized, validly issued, and are fully
paid and non-assessable.

 

3.2. Title to Securities.  Upon
issuance in accordance with, and payment pursuant to, the terms hereof and that certain warrant agreement to be entered into between
the Company and Continental, as warrant agent (the “Warrant Agreement”), as the case may be, each of the Units,
Placement Shares, Placement Warrants and Warrant Shares will be duly and validly issued, fully paid and non-assessable. On the
date of issuance of the Units, the Warrant Shares shall have been reserved for issuance. Upon issuance in accordance with, and
payment pursuant to, the terms hereof and the Warrant Agreement, as the case may be, the Subscriber will have or receive good title
to the Units, Placement Shares and Placement Warrants, free and clear of all liens, claims and encumbrances of any kind, other
than (i) transfer restrictions hereunder and pursuant to the Insider Letter and (ii) transfer restrictions under federal and state
securities laws.

  

3.3. Organization and
Qualification. The Company is a corporation duly incorporated, validly existing and in good standing under the laws of the State
of Delaware and has the requisite corporate power to own its properties and assets and to carry on its business as now being conducted.

 

3.4. Authorization;
Enforcement. (i) The Company has the requisite corporate power and authority to enter into and perform its obligations under
this Agreement and to issue the Securities in accordance with the terms hereof, (ii) the execution, delivery and performance
of this Agreement by the Company and the consummation by it of the transactions contemplated hereby have been duly authorized by
all necessary corporate action, and no further consent or authorization of the Company or its Board of Directors or stockholders
is required, and (iii) this Agreement constitutes valid and binding obligations of the Company enforceable against the Company
in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance,
moratorium, reorganization, or similar laws relating to, or affecting generally the enforcement of, creditors’ rights and
remedies or by equitable principles of general application and except as enforcement of rights to indemnity and contribution may
be limited by federal and state securities laws or principles of public policy.

 

3.5. No Conflicts.
The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions contemplated
hereby do not (i) result in a violation of the Company’s certificate of incorporation or by-laws, (ii) conflict
with, or constitute a default under any agreement or instrument to which the Company is a party or (iii) any law statute, rule
or regulation to which the Company is subject or any agreement, order, judgment or decree to which the Company is subject. Other
than any SEC or state securities filings which may be required to be made by the Company subsequent to a Closing Date, and any
registration statement which may be filed pursuant thereto, the Company is not required under federal, state or local law, rule
or regulation to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental
agency or self-regulatory entity in order for it to perform any of its obligations under this Agreement or issue the Units, Placement
Shares, Placement Warrants or Warrant Shares in accordance with the terms hereof. 

 

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4. Legends

 

4.1. Legend. The Company
will issue the Units, Placement Shares and Placement Warrants, and when issued, the Warrant Shares, purchased by the Subscriber
in the name of the Subscriber. The certificates (if any) evidencing Securities will bear the following Legend and appropriate “stop
transfer” instructions:

 

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

 

“THE
SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO LOCKUP PURSUANT TO AN INSIDER LETTER BETWEEN, AMONG OTHERS, TWELVE SEAS
INVESTMENT COMPANY II AND TWELVE SEAS SPONSOR II LLC AND MAY ONLY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED
DURING THE TERM OF THE LOCKUP PURSUANT TO THE TERMS SET FORTH IN THE INSIDER LETTER.”

  

4.2. Subscriber’s
Compliance. Nothing in this Section 4 shall affect in any way the Subscriber’s obligations and agreements to comply
with all applicable securities laws upon resale of the Securities.

 

4.3. Company’s
Refusal to Register Transfer of the Securities.  The Company shall refuse to register any transfer of the Securities,
if in the sole judgment of the Company such purported transfer would not be made (i) pursuant to an effective registration
statement filed under the Securities Act, or pursuant to an available exemption from the registration requirements of the Securities
Act and (ii) in compliance herewith and with the Insider Letter.

 

4.4. Registration Rights.  The
Subscriber will be entitled to certain registration rights which will be governed by a registration rights agreement (“Registration
Rights Agreement”) to be entered into between, among others, the Subscriber and the Company, on or prior to the effective
date of the Registration Statement. 

 

5.  Waiver
of Liquidation Distributions.

 

In connection with
the Securities purchased pursuant to this Agreement, the Subscriber hereby waives any and all right, title, interest or claim of
any kind in or to any distributions of the amounts in the Trust Account with respect to the Securities, whether (i) in connection
with the exercise of redemption rights if the Company consummates the Business Combination, (ii) in connection with any tender
offer conducted by the Company prior to a Business Combination, (iii) upon the Company’s redemption of shares of Common Stock
sold in the Company’s IPO upon the Company’s failure to timely complete the Business Combination or (iv) in connection
with a stockholder vote to approve an amendment to the Company’s amended and restated certificate of incorporation (A) to
modify the substance or timing of the Company’s obligation to redeem 100% of the Company’s public shares if the Company
does not timely complete the Business Combination or (B) with respect to any other provision relating to stockholders’ rights
or pre-Business Combination activity.  In the event the Subscriber purchases shares of Common Stock in the IPO or in
the aftermarket, any additional shares so purchased shall be eligible to receive the redemption value of such shares of Common
Stock upon the same terms offered to all other purchasers of Common Stock in the IPO in the event the Company fails to consummate
the Business Combination.

 

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6.  Terms
of Placement Warrants. Each Placement Warrant shall have the terms set forth in the Warrant Agreement.

 

7. Rescission
Right Waiver and Indemnification.

 

7.1. The Subscriber
understands and acknowledges an exemption from the registration requirements of the Securities Act requires there be no general
solicitation of purchasers of the Units. In this regard, if the IPO were deemed to be a general solicitation with respect to the
Units, the offer and sale of such Units may not be exempt from registration and, if not, the Subscriber may have a right to rescind
its purchase of the Units. In order to facilitate the completion of the Placement and in order to protect the Company, its stockholders
and the amounts in the Trust Account from claims that may adversely affect the Company or the interests of its stockholders, the
Subscriber hereby agrees to waive, to the maximum extent permitted by applicable law, any claims, right to sue or rights in law
or arbitration, as the case may be, to seek rescission of its purchase of the Units. The Subscriber acknowledges and agrees this
waiver is being made in order to induce the Company to sell the Units to the Subscriber. The Subscriber agrees the foregoing waiver
of rescission rights shall apply to any and all known or unknown actions, causes of action, suits, claims or proceedings (collectively,
“Claims”) and related losses, costs, penalties, fees, liabilities and damages, whether compensatory, consequential
or exemplary, and expenses in connection therewith, including reasonable attorneys’ and expert witness fees and disbursements
and all other expenses reasonably incurred in investigating, preparing or defending against any Claims, whether pending or threatened,
in connection with any present or future actual or asserted right to rescind the purchase of the Units hereunder or relating to
the purchase of the Units and the transactions contemplated hereby.

 

7.2. The Subscriber
agrees not to seek recourse against the Trust Account for any reason whatsoever in connection with its purchase of the Units or
any Claim that may arise now or in the future.

 

7.3. The Subscriber
acknowledges and agrees that the stockholders of the Company are and shall be third-party beneficiaries of this Section 7.

 

7.4. The Subscriber
agrees that to the extent any waiver of rights under this Section 7 is ineffective as a matter of law, the Subscriber has offered
such waiver for the benefit of the Company as an equitable right that shall survive any statutory disqualification or bar that
applies to a legal right. The Subscriber acknowledges the receipt and sufficiency of consideration received from the Company hereunder
in this regard.

  

8. Terms of
the Units and Placement Warrants

 

8.1. The Units and
their component parts are substantially identical to the units to be offered in the IPO except that: (i) the Units and component
parts are subject to the transfer restrictions described in the Insider Letter, (ii) the Placement Warrants will be non-redeemable
if called for redemption pursuant to Section 6.1 of the Warrant Agreement so long as they are held by the Subscriber (or any of
its permitted transferees) and as otherwise provided in Section 5 herein, and may be exercisable on a “cashless”
basis if held by the Subscriber or its permitted transferees, as further described in the Warrant Agreement and (iii) the Units
and component parts are being purchased pursuant to an exemption from the registration requirements of the Securities Act and will
become freely tradable only after the expiration of the lockup described above in clause (i) and they are registered pursuant to
the Registration Rights Agreement to be signed on or before the date of the Prospectus or an exemption from registration is available.

 

8.2. The Subscriber
agrees to vote the Placement Shares in accordance with the terms of the Insider Letter and as otherwise described in the Registration
Statement.

 

9.  Governing
Law; Jurisdiction; Waiver of Jury Trial

 

This Agreement shall
be governed by and construed in accordance with the laws of the State of New York for agreements made and to be wholly performed
within such state. THE PARTIES HERETO HEREBY WAIVE ANY RIGHT TO A JURY TRIAL IN
CONNECTION WITH ANY LITIGATION PURSUANT TO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY.

 

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10.  Assignment; Entire Agreement;
Amendment

 

10.1. Assignment. Neither
this Agreement nor any rights hereunder may be assigned by any party to any other person other than by the Subscriber to a person
agreeing to be bound by the terms hereof, including the waiver contained in Section 7 hereof.

 

10.2. Entire Agreement.
This Agreement sets forth the entire agreement and understanding between the parties as to the subject matter thereof and merges
and supersedes all prior discussions, agreements and understandings of any and every nature among them.

 

10.3. Amendment. Except
as expressly provided in this Agreement, neither this Agreement nor any term hereof may be amended, waived, discharged or terminated
other than by a written instrument signed by all of the parties hereto.

 

10.4. Binding upon
Successors. This Agreement shall be binding upon and inure to the benefit of the parties hereto and to their respective heirs,
legal representatives, successors and permitted assigns. 

 

11.   Notices

 

11.1. Notices. Unless
otherwise provided herein, any notice or other communication to a party hereunder shall be sufficiently given if in writing and
personally delivered or sent by facsimile or other electronic transmission with copy sent in another manner herein provided or
sent by courier (which for all purposes of this Agreement shall include Federal Express or other recognized overnight courier)
or mailed to said party by certified mail, return receipt requested, at its address provided for herein or such other address as
either may designate for itself in such notice to the other.  Communications shall be deemed to have been received when
delivered personally, on the scheduled arrival date when sent by next day or 2nd-day courier service, or if sent by facsimile upon
receipt of confirmation of transmittal or, if sent by mail, then three days after deposit in the mail. If given by electronic transmission,
such notice shall be deemed to be delivered (a) if by electronic mail, when directed to an electronic mail address at which
the stockholder has consented to receive notice; (b) if by a posting on an electronic network together with separate notice
to the stockholder of such specific posting, upon the later of (1) such posting and (2) the giving of such separate notice;
and (c) if by any other form of electronic transmission, when directed to the stockholder.

 

12. Counterparts

 

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

 

13. Survival;
Severability

 

13.1. Survival. The
representations, warranties, covenants and agreements of the parties hereto shall survive the Closing Dates.

 

13.2. Severability.
In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable
or void, this Agreement shall continue in full force and effect without said provision; provided that no such severability shall
be effective if it materially changes the economic benefit of this Agreement to any party.

 

14. Headings.

 

The titles and subtitles
used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.

 

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IN WITNESS WHEREOF, the parties hereto have executed
this Agreement to be effective as of the date first set forth above.

 

	 	COMPANY:
	 	 
	 	TWELVE SEAS INVESTMENT COMPANY II
	 	 	 
	 	By:	 
	 	 	Name: Dimitri Elkin
	 	 	Title:   Chief Executive Officer

 

	 	SUBSCRIBER:
	 	 
	 	TWELVE SEAS SPONSOR II LLC
	 	 	 
	 	By:	 
	 	 	Name: Jonathan Morris
	 	 	Title:   Managing Member

 

[Unit Subscription Agreement with Sponsor]Exhibit 10.7 

 

UNIT SUBSCRIPTION AGREEMENT

 

This UNIT SUBSCRIPTION
AGREEMENT (this “Agreement”) is made as of _________, 2021, by and between Twelve Seas Investment Company II,
a Delaware corporation (the “Company”), and Mizuho Securities USA LLC (the “Subscriber”).

 

WHEREAS, the Company
desires to sell to the Subscriber on a private placement basis (the “Placement”) an aggregate of 200,000 units
(the “Initial Units”) of the Company, and up to an additional 30,000 units (the “Additional Units”
and together with the Initial Units, the “Units”) of the Company in the event that the underwriters’ 45-day
over-allotment option (“Over Allotment Option”) is exercised in full or part, each Unit comprised of one share
of Class A common stock of the Company, par value $0.0001 per share (“Common Stock”) and one-half of one warrant,
each whole warrant exercisable to purchase one share of Common Stock (“Warrant”), for a purchase price of $10.00
per Unit. The shares of Common Stock underlying the Warrants are hereinafter referred to as the “Warrant Shares”.
The shares of Common Stock underlying the Units (excluding the Warrant Shares) are hereinafter referred to as the “Placement
Shares.” The Warrants underlying the Units are hereinafter referred to as the “Placement Warrants.”
The Units, Placement Shares, Placement Warrants and Warrant Shares, collectively, are hereinafter referred to as the “Securities.”
Each whole Placement Warrant is exercisable to purchase one share of Common Stock at an exercise price of $11.50 during the period
commencing on the later of (i) twelve (12) months from the date of the closing of the Company’s initial public offering of
units (the “IPO”) and (ii) 30 days following the consummation of the Company’s initial business combination
(the “Business Combination”), as such term is defined in the registration statement in connection with the IPO,
as amended at the time it becomes effective (the “Registration Statement”), and expiring on the fifth anniversary
of the consummation of the Business Combination (provided that so long as the Placement Warrants are held by the Subscriber or
its designees or affiliates, the Subscriber or its designees or affiliates will not be permitted to exercise such Placement Warrants
after the five year anniversary of the effective date of the Registration Statement in accordance with FINRA Rule 5110(f)(2)(G)(i));
and

 

WHEREAS, the Subscriber
wishes to purchase the Initial Units and up to 30,000 Additional Units, and the Company wishes to accept such subscription from
the Subscriber.

 

NOW, THEREFORE, in
consideration of the premises and the mutual covenants hereinafter set forth and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the Company and Subscriber hereby agree as follows:

 

1. Agreement to Subscribe

 

1.1 Purchase and Issuance
of the Initial Units. Upon the terms and subject to the conditions of this Agreement, the Subscriber hereby agrees to purchase
from the Company, and the Company hereby agrees to sell to the Subscriber, on the Initial Closing Date (as defined below) the Initial
Units in consideration of the payment of the Purchase Price (as defined below). On the Initial Closing Date, the Company shall,
at its option, deliver to the Subscriber the certificates representing the Securities purchased or effect such delivery in book-entry
form.

 

1.2. Purchase Price.
The Subscriber shall pay $200,000 (the “Purchase Price”) by wire transfer of immediately available funds or
by such other method as may be reasonably acceptable to the Company, to the trust account (the “Trust Account”)
at a financial institution to be chosen by the Company, maintained by Continental Stock Transfer & Trust Company, acting as
trustee (“Continental”), on or prior to the Initial Closing Date (as defined below).

 

1.3. Initial Closing.
The closing of the purchase and sale of Initial Units shall take place simultaneously with the closing of the IPO (the “Initial
Closing Date”). The closing of such Units shall take place at the offices of Ellenoff Grossman & Schole LLP, 1345
Avenue of the Americas, 11th Floor, New York, New York, 10105, or such other place as may be agreed upon by the
parties hereto.

 

    

     

    

 

1.4. Purchase and Issuance
of Additional Units. Upon the terms and subject to the conditions of this Agreement, the Subscriber hereby agrees to purchase from
the Company, and the Company hereby agrees to sell to the Subscriber, on the Over-Allotment Closing Date, up to an aggregate of
30,000 Additional Units in consideration of the payment of $10.00 per Additional Unit for a purchase price of up to $300,000 and
in the same proportion as the amount of the Over-Allotment Option is exercised. The purchase and issuance of the Additional Units
shall occur only in the event that the Over-Allotment Option is exercised in full or in part. On the Over-Allotment Closing Date
(as defined below), the Company shall, at its option, deliver to the Subscriber the certificates representing the Securities purchased
or effect such delivery in book-entry form.

 

1.5. Purchase Price.
As payment in full for the Additional Units being purchased under this Agreement, the Subscriber shall pay $10.00 per Additional
Unit being purchased by wire transfer of immediately available funds or by such other method as may be reasonably acceptable to
the Company, to the Trust Account on the date of the consummation of the closing of the over-allotment option, and concurrently
with the consummation thereof, or on such earlier time and date as may be mutually agreed by the Company and the Subscriber (each
such date, an “Over-Allotment Closing Date”; together with the Initial Closing Date, the “Closing Dates”
and each, a “Closing Date”).

 

1.6. Over-Allotment
Closing. The Over-Allotment Closing Date shall take place at the offices of Ellenoff Grossman & Schole LLP, 1345 Avenue of
the Americas, 11th Floor, New York, New York, 10105, or such other place as may be agreed upon by the parties hereto.

 

1.7 Conditions to Closing.
The obligation of the Subscriber to purchase and pay for the Units as provided herein shall be subject to the satisfaction of the
conditions set forth in Section 5 of the Underwriting Agreement, dated as of the date hereof, by and between the Company and the
Subscriber, as representative of the underwriters named therein (the “Underwriting Agreement”).

 

1.8 Termination. This
Agreement and each of the obligations of the undersigned shall be null and void and without effect if the Initial Closing Date
does not occur prior to June 30, 2021.

 

2. Representations
and Warranties of the Subscriber

 

The Subscriber represents
and warrants to the Company that:

 

2.1. No Government
Recommendation or Approval. The Subscriber understands that no federal or state agency has passed upon or made any recommendation
or endorsement of the Company or the Placement of the Securities.

 

2.2. Accredited Investor.
The Subscriber represents that it is an “accredited investor” as such term is defined in Rule 501(a) of Regulation
D under the Securities Act of 1933, as amended (the “Securities Act”), and acknowledges that the sale contemplated
hereby is being made in reliance, among other things, on a private placement exemption to “accredited investors” under
the Securities Act and similar exemptions under state law.

 

2.3. Intent. The Subscriber
is purchasing the Securities solely for investment purposes, for the Subscriber’s own account (and/or for the account or
benefit of its members or affiliates, as permitted, pursuant to the terms hereof), and not with a view to the distribution thereof
and the Subscriber has no present arrangement to sell the Securities to or through any person or entity except as may be permitted
hereunder. The Subscriber shall not engage in hedging transactions with regard to the Securities unless in compliance with the
Securities Act.

 

2.4. Restrictions on
Transfer. The Subscriber acknowledges and understands the Units are being offered in a transaction not involving a public offering
in the United States within the meaning of the Securities Act. The Securities have not been registered under the Securities Act
and, if in the future the Subscriber decides to offer, resell, pledge or otherwise transfer the Securities, such Securities may
be offered, resold, pledged or otherwise transferred only (A) pursuant to an effective registration statement filed under the Securities
Act, (B) pursuant to an exemption from registration under Rule 144 promulgated under the Securities Act, if available, or (C) pursuant
to any other available exemption from the registration requirements of the Securities Act, and in each case in accordance with
any applicable securities laws of any state or any other jurisdiction. Notwithstanding the foregoing, the Subscriber acknowledges
and understands the Securities are subject to transfer restrictions as described in Section 8 hereof. The Subscriber agrees that
if any transfer of its Securities or any interest therein is proposed to be made, as a condition precedent to any such transfer,
the Subscriber may be required to deliver to the Company an opinion of counsel satisfactory to the Company with respect to such
transfer. Absent registration or another available exemption from registration, the Subscriber agrees it will not resell the Securities
(unless otherwise permitted pursuant to the terms hereof). The Subscriber further acknowledges that because the Company is a shell
company, Rule 144 may not be available to the Subscriber for the resale of the Securities until the one year anniversary following
consummation of the initial Business Combination of the Company, despite technical compliance with the requirements of Rule 144
and the release or waiver of any contractual transfer restrictions.

 

    2

     

    

 

2.5. Sophisticated Investor.

 

(i) The Subscriber
is sophisticated in financial matters and is able to evaluate the risks and benefits of the investment in the Securities.

 

(ii) The Subscriber
is aware that an investment in the Securities is highly speculative and subject to substantial risks because, among other things,
(a) the Securities are subject to transfer restrictions and have not been registered under the Securities Act and therefore cannot
be sold unless subsequently registered under the Securities Act or an exemption from such registration is available and (b) the
Subscriber has waived its redemption rights with respect to the Securities as set forth in Section 5 hereof, and the Securities
held by the Subscriber are not entitled to, and have no right, interest or claim to any monies held in the Trust Account, and accordingly
the Subscriber may suffer a loss of a portion or all of its investment in the Securities. The Subscriber is able to bear the economic
risk of its investment in the Securities for an indefinite period of time.

 

2.6. Organization and
Authority. The Subscriber is duly organized, validly existing and in good standing under the laws of its state of incorporation
or formation and it possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement.

 

2.7. Authority. This
Agreement has been validly authorized, executed and delivered by the Subscriber and is a valid and binding agreement enforceable
in accordance with its terms, subject to the general principles of equity and to bankruptcy or other laws affecting the enforcement
of creditors’ rights generally.

 

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

 

2.9. No Legal Advice
from Company. The Subscriber acknowledges it has had the opportunity to review this Agreement and the transactions contemplated
by this Agreement and the other agreements entered into between the parties hereto with the Subscriber’s own legal counsel
and investment and tax advisors. Except for any statements or representations of the Company made in this Agreement and the other
agreements entered into between the parties hereto, the Subscriber is relying solely on such counsel and advisors and not on any
statements or representations of the Company or any of its representatives or agents for legal, tax or investment advice with respect
to this investment, the transactions contemplated by this Agreement or the securities laws of any jurisdiction.

 

2.10. Reliance on Representations
and Warranties. The Subscriber understands the Units are being offered and sold to the Subscriber in reliance on exemptions from
the registration requirements under the Securities Act, and analogous provisions in the laws and regulations of various states,
and that the Company is relying upon the truth and accuracy of the representations, warranties, agreements, acknowledgments and
understandings of the Subscriber set forth in this Agreement in order to determine the applicability of such provisions.

 

    3

     

    

 

2.11. No General Solicitation.
The Subscriber is not subscribing for the Units as a result of or subsequent to any general solicitation or general advertising,
including but not limited to any advertisement, article, notice or other communication published in any newspaper, magazine, or
similar media or broadcast over television or radio, or presented at any seminar or meeting or in a registration statement with
respect to the IPO filed with the Securities and Exchange Commission (“SEC”).

 

2.12. Legend. The Subscriber
acknowledges and agrees the certificates (if any) evidencing each of the Securities shall bear a restrictive legend (the “Legend”),
in form and substance substantially as set forth in Section 4 hereof.

  

3. Representations,
Warranties and Covenants of the Company

 

The Company represents
and warrants to, and agrees with, the Subscriber that:

 

3.1. Valid Issuance
of Capital Stock. The total number of shares of all classes of capital stock which the Company has authority to issue is 100,000,000
shares of Class A Common Stock, 10,000,000 shares of Class B Common Stock, $0.0001 par value per share (the “Class B Common
Stock”), and 1,000,000 shares of preferred stock, $0.0001 par value per share (“Preferred Stock”).
As of the date hereof, the Company has issued and outstanding 7,187,500 shares of Class B Common Stock (of which up to 937,500
shares are subject to forfeiture as described in the Registration Statement), no shares of Class A Common Stock and no shares of
Preferred Stock. All of the issued shares of capital stock of the Company have been duly authorized, validly issued, and are fully
paid and non-assessable.

 

3.2 Title to Securities.
Upon issuance in accordance with, and payment pursuant to, the terms hereof and that certain warrant agreement to be entered into
between the Company and Continental, as warrant agent (the “Warrant Agreement”), as the case may be, each of
the Units, Placement Shares, Placement Warrants and Warrant Shares will be duly and validly issued, fully paid and non-assessable.
On the date of issuance of the Units, the Warrant Shares shall have been reserved for issuance. Upon issuance in accordance with,
and payment pursuant to, the terms hereof and the Warrant Agreement, as the case may be, the Subscriber will have or receive good
title to the Units, Placement Shares and Placement Warrants, free and clear of all liens, claims and encumbrances of any kind,
other than (i) transfer restrictions hereunder and (ii) transfer restrictions under federal and state securities laws.

 

3.3. Organization and
Qualification. The Company is a corporation duly incorporated, validly existing and in good standing under the laws of the State
of Delaware and has the requisite corporate power to own its properties and assets and to carry on its business as now being conducted.

 

3.4. Authorization;
Enforcement. (i) The Company has the requisite corporate power and authority to enter into and perform its obligations under this
Agreement and to issue the Securities in accordance with the terms hereof, (ii) the execution, delivery and performance of this
Agreement by the Company and the consummation by it of the transactions contemplated hereby have been duly authorized by all necessary
corporate action, and no further consent or authorization of the Company or its Board of Directors or stockholders is required,
and (iii) this Agreement constitutes valid and binding obligations of the Company enforceable against the Company in accordance
with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance, moratorium,
reorganization, or similar laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies or
by equitable principles of general application and except as enforcement of rights to indemnity and contribution may be limited
by federal and state securities laws or principles of public policy.

 

3.5. No Conflicts.
The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions contemplated
hereby do not (i) result in a violation of the Company’s certificate of incorporation or by-laws, (ii) conflict with, or
constitute a default under any agreement or instrument to which the Company is a party or (iii) any law statute, rule or regulation
to which the Company is subject or any agreement, order, judgment or decree to which the Company is subject. Other than any SEC
or state securities filings which may be required to be made by the Company subsequent to a Closing Date, and any registration
statement which may be filed pursuant thereto, the Company is not required under federal, state or local law, rule or regulation
to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental agency or
self-regulatory entity in order for it to perform any of its obligations under this Agreement or issue the Units, Placement Shares,
Placement Warrants or Warrant Shares in accordance with the terms hereof.

 

    4

     

    

 

3.6. Additional Representations
and Warranties. The representations and warranties of the Company set forth in the Underwriting Agreement are hereby incorporated
herein.

 

 

4. Legends

 

4.1. Legend. The Company
will issue the Units, Placement Shares and Placement Warrants, and when issued, the Warrant Shares, purchased by the Subscriber
in the name of the Subscriber. The certificates (if any) evidencing the Securities will bear the following Legend and appropriate
“stop transfer” instructions:

 

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

 

“THE
SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO LOCKUP PURSUANT TO A UNIT SUBSCRIPTION AGREEMENT BETWEEN TWELVE SEAS
INVESTMENT COMPANY II AND MIZUHO SECURITIES USA LLC AND MAY ONLY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING
THE TERM OF THE LOCKUP PURSUANT TO THE TERMS SET FORTH IN THE UNIT SUBSCRIPTION AGREEMENT.”

 

4.2. Subscriber’s
Compliance. Nothing in this Section 4 shall affect in any way the Subscriber’s obligations and agreements to comply with
all applicable securities laws upon resale of the Securities.

 

4.3. Company’s
Refusal to Register Transfer of the Securities. The Company shall refuse to register any transfer of the Securities, if in the
sole judgment of the Company such purported transfer would not be made (i) pursuant to an effective registration statement filed
under the Securities Act, or pursuant to an available exemption from the registration requirements of the Securities Act and (ii)
in compliance herewith.

 

4.4 Registration Rights.
The Subscriber will be entitled to certain registration rights which will be governed by a registration rights agreement (“Registration
Rights Agreement”) to be entered into between, among others, the Subscriber and the Company, on or prior to the effective
date of the Registration Statement.

 

5. Waiver
of Liquidation Distributions.

 

In connection with
the Securities purchased pursuant to this Agreement, the Subscriber hereby waives any and all right, title, interest or claim of
any kind in or to any distributions of the amounts in the Trust Account with respect to the Securities, whether (i) in connection
with the exercise of redemption rights if the Company consummates the Business Combination, (ii) in connection with any tender
offer conducted by the Company prior to a Business Combination, (iii) upon the Company’s redemption of shares of Common Stock
sold in the Company’s IPO upon the Company’s failure to timely complete the Business Combination or (iv) in connection
with a stockholder vote to approve an amendment to the Company’s amended and restated certificate of incorporation (A) to
modify the substance or timing of the Company’s obligation to redeem 100% of the Company’s public shares if the Company
does not timely complete the Business Combination or (B) with respect to any other provision relating to stockholders’ rights
or pre-Business Combination activity. In the event the Subscriber purchases shares of Common Stock in the IPO or in the aftermarket,
any additional shares so purchased shall be eligible to receive the redemption value of such shares of Common Stock upon the same
terms offered to all other purchasers of Common Stock in the IPO in the event the Company fails to consummate the Business Combination.

 

6. Terms of
Placement Warrants. Each Placement Warrant shall have the terms set forth in the Warrant Agreement.

 

    5

     

    

 

7. Lock-Up Period.

 

7.1. The Subscriber
agrees that it shall not Transfer any Securities until 30 days following the consummation of the Business Combination; provided,
however, that Transfers of Securities are permitted, subject to compliance with Section 7.3 hereof, (a) to the Company’s
officers or directors, any affiliate or family member of any of the Company’s officers or directors or any affiliate of the
Subscriber or to any of the Subscriber’s officers, directors or member(s) or any of their respective 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 such 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 any forward purchase
agreement or similar arrangement or in connection with the consummation of the Business Combination at prices no greater than the
price at which the shares or warrants were originally purchased; (f) in the event of the Company’s liquidation prior to the
completion of the Business Combination; (g) by virtue of the laws of the state of incorporation or formation of the Subscriber
or the Subscriber’s limited liability company agreement upon dissolution of the Subscriber or (h) in the event of the Company’s
liquidation, merger, capital stock exchange, reorganization or other similar transaction which results in all of the Company’s
stockholders having the right to exchange their shares of Common Stock for cash, securities or other property subsequent to the
Business Combination; provided, however, that in the case of clauses (a) through (e) or (g), these permitted transferees must enter
into a written agreement with the Company agreeing to be bound by the Transfer restrictions herein.

 

7.2. For purposes of
Section 7.1, the term “Transfer” shall mean the (a) sale of, offer to sell, contract or agreement to sell, hypothecate,
pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment
or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent position within the meaning
of Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated thereunder
with respect to, any of the Securities, (b) entry into any swap or other arrangement that transfers to another, in whole or in
part, any of the economic consequences of ownership of any of the Securities, whether any such transaction is to be settled by
delivery of such Securities, in cash or otherwise, or (c) public announcement of any intention to effect any transaction specified
in clause (a) or (b).

 

7.3 In addition to
the restrictions on transfer described in Section 7.1, Subscriber acknowledges and agrees that the Units and their component parts
and the related registration rights will be deemed compensation by the Financial Industry Regulatory Authority (“FINRA”)
and will therefore, pursuant to Rule 5110(g) of the FINRA Manual, be subject to lock-up for a period of 180 days immediately following
the date of effectiveness or commencement of sales in the IPO, subject to certain limited exceptions to permitted transferees hereunder
and in accordance with FINRA Rule 5110(g)(2). Additionally, the Units and their component parts and the related registration rights
may not be sold, transferred, assigned, pledged or hypothecated during the foregoing 180 day period following the effective date
of the Registration Statement except to any underwriter or selected dealer participating in the IPO and the bona fide officers
or partners of the Subscriber and any such participating underwriter or selected dealer. Additionally, the Units and their component
parts and the related registration rights will not be the subject of any hedging, short sale, derivative, put or call transaction
that would result in the economic disposition of such securities by any person for a period of 180 days immediately following the
date of effectiveness or commencement of sales in the IPO.

 

    6

     

    

 

8. Terms of
the Units and Placement Warrants

 

8.1 The Units and their
component parts are substantially identical to the units to be offered in the IPO except that: (i) the Units and component parts
are subject to the transfer restrictions described in Section 7 hereof, (ii) the Placement Warrants will be non-redeemable if called
for redemption pursuant to Section 6.1 of the Warrant Agreement so long as they are held by the Subscriber (or any of its permitted
transferees) and as otherwise provided in Section 5 herein, and may be exercisable on a “cashless” basis if held by
the Subscriber or its permitted transferees, as further described in the Warrant Agreement, and (iii) the Units and component parts
are being purchased pursuant to an exemption from the registration requirements of the Securities Act and will become freely tradable
only after the expiration of the lockup described above in clause (i) and they are registered pursuant to the Registration Rights
Agreement or an exemption from registration is available, and the restrictions described above in clause (i) have expired or been
waived.

 

8.2 The Subscriber
agrees that if the Company seeks stockholder approval of a Business Combination, then in connection with such Business Combination,
the Subscriber shall (i) vote the Placement Shares owned by it in favor of the Business Combination and (ii) not redeem any Placement
Shares owned by the Subscriber in connection with such stockholder approval.

 

9. Governing
Law; Jurisdiction; Waiver of Jury Trial

 

This Agreement shall
be governed by and construed in accordance with the laws of the State of New York for agreements made and to be wholly performed
within such state. THE PARTIES HERETO HEREBY WAIVE ANY RIGHT TO A JURY TRIAL IN
CONNECTION WITH ANY LITIGATION PURSUANT TO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY.

 

10. Assignment;
Entire Agreement; Amendment

 

10.1. Assignment. Neither
this Agreement nor any rights hereunder may be assigned by any party to any other person other than by the Subscriber to a person
agreeing to be bound by the terms hereof, including the transfer restrictions contained in Section 7 hereof.

 

10.2. Entire Agreement.
This Agreement sets forth the entire agreement and understanding between the parties as to the subject matter thereof and merges
and supersedes all prior discussions, agreements and understandings of any and every nature among them.

 

10.3. Amendment. Except
as expressly provided in this Agreement, neither this Agreement nor any term hereof may be amended, waived, discharged or terminated
other than by a written instrument signed by all of the parties hereto.

 

10.4. Binding upon
Successors. This Agreement shall be binding upon and inure to the benefit of the parties hereto and to their respective heirs,
legal representatives, successors and permitted assigns.

 

11. Notices

 

11.1 Notices. Unless
otherwise provided herein, any notice or other communication to a party hereunder shall be sufficiently given if in writing and
personally delivered or sent by facsimile or other electronic transmission with copy sent in another manner herein provided or
sent by courier (which for all purposes of this Agreement shall include Federal Express or other recognized overnight courier)
or mailed to said party by certified mail, return receipt requested, at its address provided for herein or such other address as
either may designate for itself in such notice to the other. Communications shall be deemed to have been received when delivered
personally, on the scheduled arrival date when sent by next day or 2nd-day courier service, or if sent by facsimile upon receipt
of confirmation of transmittal or, if sent by mail, then three days after deposit in the mail. If given by electronic transmission,
such notice shall be deemed to be delivered (a) if by electronic mail, when directed to an electronic mail address at which the
stockholder has consented to receive notice; (b) if by a posting on an electronic network together with separate notice to the
stockholder of such specific posting, upon the later of (1) such posting and (2) the giving of such separate notice; and (c) if
by any other form of electronic transmission, when directed to the stockholder.

 

    7

     

    

 

12. Counterparts

 

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

 

13. Survival;
Severability

 

13.1. Survival. The
representations, warranties, covenants and agreements of the parties hereto shall survive each Closing Date.

 

13.2. Severability.
In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable
or void, this Agreement shall continue in full force and effect without said provision; provided that no such severability shall
be effective if it materially changes the economic benefit of this Agreement to any party.

 

14. Headings.

 

The titles and subtitles
used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.

 

[remainder of page intentionally left blank]

 

    8

     

    

 

IN WITNESS WHEREOF,
the parties hereto have executed this Agreement to be effective as of the date first set forth above.

 

	 	COMPANY:
	 	 
	 	TWELVE SEAS INVESTMENT COMPANY

 II
	 	 	 
	 	By:	 
	 	 	Name: Dimitri Elkin
	 	 	Title: Chief Executive Officer

 

	 	SUBSCRIBER:
	 	 
	 	MIZUHO SECURITIES USA LLC
	 	 	 
	 	By:	 
	 	 	Name: 
	 	 	Title:   

  

 

[Unit Subscription Agreement with Mizuho
Securities USA LLC]

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