Document:

Exhibit 10.1

 

Execution Version

 

 

SETTLEMENT AGREEMENT

 

This Settlement Agreement (this “Agreement”)
is entered into on this 20th day of December 2021 (the “Effective Date”) by and between:

 

FuelCell Energy Inc., a corporation
duly incorporated and existing under the laws of the State of Delaware, United States of America, with its principal office located at
3 Great Pasture Rd, Danbury, CT 06810, United States of America (“FCE”);

 

POSCO Energy Co., Ltd., a company
organized and existing under the laws of the Republic of Korea, with its principal place of business at POSCO Center, 440, Teheran-ro,
Gangnam-gu, Seoul, 06194, Korea (“PE”); and

 

Korea Fuel Cell Co., Ltd., a
company organized and existing under the laws of the Republic of Korea, with its principal place of business at 154 Yeongilmansandan-ro,
88 Beon-gil, Heunghae-eup, Buk-gu, Pohang, Gyeongsangbuk-do, 37948, Korea (“KFC” and together with “PE”,
 “PE Group”).

 

FCE and PE Group shall be referred
to as the “Parties” collectively and each side as a “Party” individually. Thus, when this Agreement
refers to “either Party,” it refers to FCE, on the one hand, and PE and KFC, on the other.

 

RECITALS

 

WHEREAS, the Parties are in
the business of manufacturing, selling, and servicing fuel cells and fuel cell products among other lines of business;

 

WHEREAS, FCE has brought claims and an
application for interim relief against PE Group, and PE Group has brought counterclaims and applications for interim relief against FCE,
in connection with the Alliance Agreement dated 7 February 2007, the Technology Transfer, License and Distribution Agreement dated 7 February
2007, the Stack Technology Transfer and License Agreement dated 27 October 2009 and the Cell Technology Transfer and License Agreement
(“CTTA”) dated 31 October 2012 (collectively, the “IP License Agreements”), the Memorandum of Understanding
for Market Transition dated 17 March 2017 (the “Market Transition MOU”), and Master Service Agreement dated 16 September
2013 (the “Master Service Agreement”) between PE and FCE or their respective successors and permitted assigns, (i)
in two arbitration proceedings seated in London and Singapore, respectively, and administered by the International Court of Arbitration
of the International Chamber of Commerce (the “ICC”) under the Rules of Arbitration of the International Chamber of
Commerce (the “ICC Rules”) with case reference numbers 25441/AZR and 25442/AZR, respectively (collectively, the “License
Arbitrations”) and (ii) in the case of the applications for preliminary attachments, before the Seoul Central District Court
by way of applications dated 13 January 2020 (2020KaDan800177) 18 March 2020 (2020KaDan803899), and 12 November 2020 (2020KaDan818607)
(collectively, the “Preliminary Attachments”);

 

WHEREAS, PE has brought claims
against FCE in connection with the Non-Recurring Engineering Design Agreement for a Sub-Megawatt Conditioning Facility dated 22 November
2013, the Purchase Order for SubMegawatt conditioning facility equipment and supplies dated 16 September 2014, and Contract - Submegawatt
Conditioning Equipment and Supplies dated 26 June 2014 attached thereto and the Contract - Sub-MegaWatt (“SubMW”) Conditioning
Facility Quality Control Support of Installation, Technical Support for Facility Processes and Operation, Support for Commissioning and
Conditioning dated 11 December 2015 (collectively, the “SMCF Agreements”), in three arbitration proceedings (two of
which are seated in Singapore, and one of which is seated in Seoul), administered by the ICC under the ICC Rules with case reference numbers
25275/HTG, 25276/HTG and 25277/HTG, respectively (collectively, the “SMCF Arbitrations”);

 

     

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WHEREAS, PE has brought claims
against FCE in connection with the Securities Purchase Agreement dated 7 February 2007, the Securities Purchase Agreement dated 9 June
2009 and the Securities Purchase Agreement dated 30 April 2012 (collectively, the “Securities Purchase Agreements”)
in the District Court for the Southern District of New York, identified as POSCO Energy f/k/a POSCO Power v. FuelCell Energy, Inc., Case
No. 1:20-cv-07509-MKV (S.D.N.Y.) (“New York Proceedings”, together with the License Arbitrations, Preliminary Attachments,
and SMCF Arbitrations, the “Proceedings”);

 

WHEREAS, PE Group desires to provide
service and supply replacement Modules (sold to PE Group by FCE) to PE Group’s existing long-term service agreement (“LTSA”)
customers in Korea for existing projects, as described in Appendix F (“Existing Customers”);

 

WHEREAS, the Parties desire to
reach an amicable resolution to the Proceedings and the disputes related thereto and cooperate in good faith for a market transition for
molten carbonate fuel cell (“MCFC”) business in Korea in accordance with the terms and conditions hereunder, whereby,
among others, (i) as set forth in Section 3.2, PE Group and its affiliates, while engaging in and pursuing other sustainable energy businesses,
may continue to service Existing Customers on existing projects according to existing LTSAs concerning MCFC power generation and thermal
technology and products (including LTSAs currently in force as well as LTSAs that have expired and are pending renewal, collectively “Existing
LTSAs”) and (ii) as set forth in Sections 3.2 and 3.2.2, FCE has the right to perform, pursue, and otherwise conduct its business
in relation to new fuel cell projects (including new projects with Existing Customers) in Korea and Asia; and

 

WHEREAS, except as specified
below with respect to the Non-Settled Matters, the Parties desire to resolve in accordance with terms and conditions hereunder any and
all past, current, or potential disputes and claims between FCE, on the one hand, and PE or KFC, on the other, of any nature whatsoever,
including but not limited to claims sounding in contract, tort, or otherwise and including with regard to interest and costs, whether
known or unknown, asserted or not asserted, based on actions or omissions of either Party on or before the date of this Agreement, including
such disputes and claims, directly or indirectly, in connection with the Proceedings and the Previous Agreements as defined in Section
3.1 (collectively, the “Settled Matters”). The Parties do not intend to settle the following matters via this
Agreement: (i) KFC’s claim for payment with respect to outstanding orders from 2015-2016 for materials and components issued by
DWA subject to Integrated Global Supply Chain Plain Contract under CTTA and any related counterclaims of FCE solely for the purpose of
offsetting the aforementioned KFC’s claim for payment, and (ii) FCE’s claim for royalties with respect to replacement modules
that PE has deployed at Gyeonggi Green Energy and other sites for which PE has not paid royalties (collectively, the “Non-Settled
Matters”).

 

     

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NOW, THEREFORE, in consideration
of the foregoing and the covenants and agreements contained herein and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Parties agree as follows:

 

		1.	FULL AND FINAL SETTLEMENT, WAIVER AND COVENANT NOT TO SUE

 

Full and Final Settlement

 

		1.1.	Save and except for claims arising pursuant to this Agreement:

 

		(a)	this Agreement shall be deemed to fully and finally resolve the Settled Matters;
and

 

		(b)	the Parties agree, without any admission as to liability whatsoever, to a full
and final settlement in relation to any and all past, current, or potential disputes and claims between FCE, on the one hand, and PE and/or
KFC, on the other, of any nature whatsoever, including but not limited to claims sounding in contract, tort, or otherwise and including
with regard to interest and costs, whether known or unknown, asserted or not asserted, based on actions or omissions of either Party on
or before the date of this Agreement, including such disputes and claims, directly or indirectly, in connection with the Settled Matters.

 

Release and Waiver

 

		1.2.	PE Group hereby irrevocably waives, and releases FCE and its agents, representatives,
employees, officers, directors, shareholders, affiliated and related companies, subsidiaries, parent company, predecessors, successors,
insurers, attorneys, and accountants (hereinafter, collectively, the “FCE Released Parties”) from, any and all claims
(including any claims for interest and costs), counterclaims, suits, appeals, demands, complaints, applications and rights which PE Group
has, or may have, against the FCE Released Parties which fall within the Settled Matters, save as provided in this Agreement. In particular,
PE Group shall take all necessary actions to finally and conclusively release the FCE Released Parties from its claims, counterclaims,
and applications against the FCE Released Parties under the Proceedings within two weeks from the Effective Date, including but not limited
to the actions under Section 5.

 

		1.3.	FCE hereby irrevocably waives, and releases PE Group and its agents, representatives,
employees, officers, directors, shareholders, affiliated and related companies, subsidiaries, parent company, predecessors, successors,
insurers, attorneys and accountants (hereinafter, collectively, the “PE Group Released Parties”) from, any and all
claims (including any claims for interest and costs), counterclaims, suits, appeals, demands, complaints, applications and rights which
FCE has, or may have, against the PE Group Released Parties which fall within the Settled Matters, save as provided in this Agreement.
In particular, FCE shall take all necessary actions to finally and conclusively release the PE Group Released Parties from its claims,
counterclaims, and applications against the PE Group Released Parties under the Proceedings within two weeks from the Effective Date,
including but not limited to the actions under Section 5.

 

Covenant Not to Sue

 

		1.4.	Without prejudice to the generality of the foregoing, each Party agrees not to
commence or prosecute any legal proceedings against the other Party and its Released Parties in connection with the Settled Matters, save
to enforce the terms of this Agreement.

 

     

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		2.	ORDER AND SUPPLY OF MODULES

 

		2.1.	KFC shall place with FCE, and FCE shall accept, firm, non-cancelable orders for
twelve (12) MCFC stack modules (Model: SureSource 3000 (standard output of 1.4MW / expected lifespan of 7 years)) (“Modules”)
within two weeks after the Effective Date under the terms and conditions set out in Appendix A attached hereto, which shall be
incorporated in the Module supply agreements to be entered into between FCE and PE Group for such orders of Modules (“Module
Supply Agreements”). Such Modules shall be delivered Ex Works (Incoterms 2020) no later than 30 October 2022.

 

		2.2.	KFC shall place with FCE, and FCE shall accept, firm, non-cancelable orders for
eight (8) additional Modules on or before 30 June 2022 under the terms and conditions set out in Appendix A attached hereto, which
shall be incorporated in the Module Supply Agreements. Such Modules shall be delivered Ex Works (Incoterms 2020) no later than 30 June
2023.

 

		2.3.	KFC shall use commercially reasonable efforts to order fourteen (14) additional
Modules by 31 December 2022. FCE shall hold the price at USD 3,000,000 per Module if the orders for any Modules are placed by 31 December
2022.

 

		2.4.	PE Group shall not supply any Modules provided by FCE to any customers in violation
of U.S. sanctions law.

 

		2.5.	As soon as practical after the Effective Date (and the delivery of documents by
no later than fourteen business days after the Effective Date, except as otherwise provided in Appendix B), FCE shall provide KFC with
technical materials and training as set out in Appendix B, Section 1, for the purpose of supporting KFC’s performance of LTSAs with
respect to the Modules supplied pursuant to this Agreement. KFC agrees to compensate FCE for technical training fee and reasonable expenses
associated with such technical training.

 

		2.6.	Further terms of the supply of the Modules not set forth in this Agreement shall
be discussed and agreed in good faith by the Parties and set forth in the Module Supply Agreements.

 

		3.	MARKET ENTRY

 

		3.1.	Previous Agreements. This provision relates to all previous agreements between
the Parties, except the Settlement Agreement dated 3 July 2019 (“Previous Agreements”). With the exception of the IP
License Agreements, which are addressed below in Section 3.2, all Previous Agreement are terminated as of the Effective Date and no party
to any such agreement shall have any further rights or obligations thereunder, except with respect to the Non-Settled Matters.

 

		3.1.1.	The Parties will endeavor in good faith to reach a mutually agreeable resolution of the Non-Settled Matters
within ninety (90) days of the Effective Date. If they are not able to do so, the dispute resolution provision of this Agreement governs
the resolution of any disputes related to the Non-Settled Matters, except that the arbitration of such a dispute shall be conducted by
a sole arbitrator and the prevailing party in such a dispute is contractually entitled to its attorneys’ fees and costs. For avoidance
of doubt, no Party can initiate arbitration under the dispute resolution provision of this Agreement with respect to a Non-Settled Matter
prior to 90 days after the Effective Date.

 

     

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		3.2.	IP License Agreements, PE Group’s License to Service Existing Customers under Existing LTSAs,
and New Projects.  The IP License Agreements are hereby amended such that, as set forth in more detail in Sections 3.2.1, 3.2.2,
and 3.2.3, PE Group has a license to service Existing Customers under Existing LTSAs and own, operate and maintain all facilities and
factories for the same purpose of servicing Existing Customers under Existing LTSAs and any orders or requests made by FCE, if any, but
all other rights as to FCE technology in the Korean and Asian markets and otherwise are retained exclusively by FCE. For avoidance of
doubt, PE Group does not have the right to manufacture Modules or any other product incorporating FCE technology unless requested to do
so by FCE.

 

		3.2.1.	The Parties agree that as of the Effective Date, the IP License Agreements are amended such that PE and
KFC solely have the rights (i) to provide maintenance and repair services to Existing Customers on existing MCFC power generation and
thermal projects under the Existing LTSAs, (ii) to supply replacement Modules purchased from FCE to Existing Customers for existing MCFC
power generation and thermal projects under the Existing LTSAs and (iii) to own, operate and maintain all facilities and factories solely
for the purposes set forth in (i) and in Section 3.2 above (collectively, the “Right to Service”).  Independent
of the amended IP License Agreements, this Agreement separately grants PE Group an identical Right to Service license, the scope of which
is set forth immediately above. The Right to Service license granted in this Agreement will survive and continue in the event that the
IP License Agreements are terminated, except that PE Group’s right to own, operate, and maintain all facilities and factories for
the purpose of servicing any orders or requests made by FCE shall terminate.

 

		3.2.2.	The Parties agree that as of the Effective Date, the IP License Agreements are amended such that FCE exclusively
enjoys all rights as to FCE technology in Korea and Asia other than the Right to Service license granted to PE and KFC as set forth in
Section 3.2.1. For avoidance of doubt, as of the Effective Date, FCE has (among other rights) the exclusive right to perform, pursue,
and otherwise conduct its business in relation to new fuel cell projects (including new projects with Existing Customers) in Korea and
Asia, (i) including without limitation the right to construct, assemble, manufacture, market, sell, distribute, import, export, install,
commission, service, maintain, and/or repair products incorporating FCE technology, and to partner with other companies for such purposes,
in new fuel cell projects (including new projects with Existing Customers), and (ii) including without limitation new fuel cell projects
(including new projects with Existing Customers) in the countries included in the Asia and Non-Asia Markets as set forth in Schedule B
of the CTTA (“New Fuel Cell Projects”).

 

		3.2.3.	The IP License Agreements terminate if (i) FCE enters
into a business collaboration agreement with a Korean company to construct, assemble, manufacture, market, sell, distribute, import, export,
install, commission, service, maintain, or repair products incorporating FCE technology, or otherwise conduct FCE’s business, in
the Korean market; or (ii) FCE expands the capacity of its existing Korean entity such as to perform such activities itself.  In
the event of (i) or (ii), FCE shall provide PE Group sixty-day prior written notice of such agreement or expansion and termination (which
shall take effect upon the expiry of such sixty-day period) and consult in good faith with PE Group during such sixty-day period to coordinate
a smooth transition in the Korean market.  For the avoidance of doubt, as described in Section 3.2.1, the license granted to PE Group
related to the Right to Service will continue notwithstanding the termination of the IP License Agreements because of the occurrence of
(i) or (ii).  As set forth in Section 7.4.2, in the event that KFC materially breaches this Agreement by failing to make timely
and full payment for the Modules for which KFC is placing firm, non-cancelable orders in Sections 2.1 and 2.2 — and does not cure
such material breach within fifteen (15) days of notice of such breach by FCE — the IP License Agreements, as amended in Section
3.2 of this Agreement, and the Right to Service license granted to the PE Group in Section 3.2.1 of this Agreement, are terminated. 

 

     

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		3.2.4.	PE Group agrees not to tortiously interfere with, or seek to hinder in any manner, FCE’s New Fuel
Cell Projects. For avoidance of doubt, mere competition generally, and PE Group and its affiliates’ pursuit of other sustainable
or renewable energy business specifically, do not constitute improper interference with FCE’s New Fuel Cell Projects.

 

		3.2.5.	FCE agrees not to tortiously interfere with, or seek to hinder in any manner, PE Group and its affiliates’
other sustainable or renewable energy business. For avoidance of doubt, mere competition generally, and FCE’s pursuit of New Fuel
Cell Projects specifically, do not constitute improper interference with PE Group and its affiliates’ other sustainable or renewable
energy business.

 

Market Collaboration

 

		3.2.6.	To the extent permissible by law, the Parties will collaborate on market communication and confidentiality.
FCE recognizes that PE Group plans to market LTSAs renewals to Existing Customers after the Effective Date. Based on discussions to date
with potential customers, FCE does not anticipate providing quotes for LTSAs for new MCFC power generation and thermal projects in the
Korean Market until 31 March 2022. It is agreed that FCE does not breach the terms of this Agreement if it provides a quote on a confidential
basis for an LTSA in the Korean Market prior to 31 March 2022 for any new MCFC power generation and thermal project opportunity that arises
after the Effective Date, including, but not limited to, in response to a request for proposals arising after the Effective Date.

 

Balance of
Plant

		3.3.	Subject to agreement on separate BOP supply agreements between KFC and FCE, FCE has the option to purchase
up to eight (8) units of BOP for FCE’s new MCFC projects within Korea at a price of KRW 2,550,000,000 per unit. FCE shall also have
a non-exclusive, non-transferrable, non-sublicensable license to use the IP imbedded in the BOP unit in Korea in consideration for a reasonable
license fee to be separately agreed by the parties. Detailed terms and conditions of this BOP and related software and firmware supply
shall be discussed and agreed in good faith in separate BOP supply agreements.

		3.4.	Regarding the supply of BOP units by KFC, if FCE exercises the option to purchase such units,

 

		(a)	KFC shall not bear any liability other than the warranty under the relevant BOP
supply agreement, including any liability for any power output guarantee under any new LTSAs of FCE;

 

     

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		(b)	KFC shall provide training subject to payment of training fees and reasonable expenses
associated with providing such training, as will be set forth in a separate BOP supply agreement; and

 

		(c)	KFC shall provide to FCE access to suppliers and information necessary to ensure
continuity of supply required for the operation of the BOP units.

 

Lease/Sale of
KFC Facility

 

		3.5.	If FCE desires to manufacture any related components of MCFC power plant in Korea, PE Group and FCE shall
discuss in good faith the lease or sale of KFC’s MCFC manufacturing facilities to FCE.

 

Operation and
Maintenance

 

		3.6.	KFC shall have the right of first refusal on providing operation and maintenance services on commercially
reasonable terms for new LTSAs entered into by FCE in Korea for a period of the first to occur of either twenty-four (24) months after
the Effective Date or until such time as FCE engages a third party capable of providing such services in Korea.

 

		3.7.	If KFC and FCE agree that KFC should provide operation and maintenance services, KFC and FCE shall enter
into an operation and maintenance agreement(s) (“O&M Agreement(s)”) that reflect commercially reasonable terms
and conditions as agreed by KFC and FCE. Further details of the operation and maintenance services to be provided that are not set forth
in this Agreement shall be discussed and agreed in good faith by the KFC and FCE and set forth in the O&M Agreement(s).

 

		3.8.	Existing Projects. Other than as set forth Sections 3.8.1, 3.8.2, and 3.11
below, FCE shall not engage in any discussion with, or approach, any Existing Customers regarding the Existing LTSAs without PE Group’s
prior written consent.

		3.8.1.	Noeul Green Energy. PE Group shall use its commercially reasonable efforts
to have Noeul Green Energy (“Noeul”) allow FCE to bid for the remaining LTSA service period for the 20MW Noeul Fuel
Cell Park when Noeul’s stack modules need to be replaced and FCE agrees to submit a good faith binding bid to Noeul if Noeul agrees
to receive such bid.

 

		3.8.2.	Godeok Green Energy. Upon the execution of this Agreement, PE Group shall
cooperate with Godeok Green Energy (“Godeok”) if Godeok wishes to discuss with FCE the supply of eight modules for
the 19.6MW Godeok Fuel Cell Park.

 

Market Collaboration; Cooperation
for Market Transition

 

		3.9.	Within two (2) days of the Effective Date, with the other Party’s prior written consent on the timing
and its content, which is not to be unreasonably withheld, each Party may release a press release, stating that the Parties have reached
an agreement resolving their disputes, the Parties are cooperating to ensure that the needs of Existing Customers and of the broader MCFC
market are addressed, and FCE has the right to pursue New Fuel Cell Projects in Korea and Asia.

 

     

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		3.10.	In case of transfer of any existing LTSAs to FCE, the respective technical teams of the Parties shall
work together diligently to investigate the historical service performance and physical conditions of the existing systems, including
existing MCFC module(s), BOP, and site equipment.

 

		3.11.	If PE Group cannot enter into an agreement with its Existing Customers to extend
or renew the Existing LTSAs by 31 December 2022, PE Group shall cooperate with FCE so that FCE may discuss and (at FCE’s discretion)
enter into an extension of the Existing LTSA, a new LTSA to replace an Existing LTSA, or a Module sales agreement with an Existing Customer;
provided that (i) should FCE enter into such an arrangement with the Existing Customer, (ii) FCE is required to provide replacement modules
to the Existing Customer under such arrangement, and (iii) PE Group has not already deployed all or some the Modules that PE Group ordered
under Sections 2.1 and 2.2, FCE shall purchase the number of required replacement modules from PE Group at the price of USD 3,000,000
per Module (to the extent such Modules are available and have not yet been deployed). Purchase of such replacement Modules by FCE is contingent
upon the Modules being in proper condition and an inspection process to be discussed and included in the module supply agreement to be
executed between KFC and FCE.

 

		3.11.1.	For the avoidance of doubt, any such Modules reacquired by FCE from PE Group shall
be included as firm orders under Sections 2.1 and 2.2 even after they are acquired by FCE.

 

		3.11.2.	For the avoidance of doubt, FCE has no obligation to reacquire Modules from PE
Group other than as set forth in Section 3.11, i.e., solely for identified Existing Customers (i) for which PE Group purchased
Modules that have not yet been deployed and are in the condition above specified, and (ii) with which PE Group is not able to enter into
an extended or renewed Existing LTSA and FCE enters into an agreement under which FCE is to provide the Existing Customer with replacement
Modules.

 

		4.	REPRESENTATION AND WARRANTIES

 

		4.1.	Each Party represents and warrants on the date hereof as follows:

 

		(a)	Each Party is a company duly organized and validly existing under the laws of the
jurisdiction of its incorporation and is duly registered and qualified to do business. Each Party has all requisite corporate power and
authority to execute and deliver, and perform its obligations under, this Agreement and to consummate the transactions contemplated hereby.

 

		(b)	The execution, delivery, and performance of this Agreement by each Party has been
duly authorized by all necessary corporate actions on the part of such Party. This Agreement has been duly executed and delivered by each
Party and is the valid and legally binding obligation of each Party, enforceable in accordance with its terms.

 

		5.	ARBITRATION CONSENT AWARDS AND DISMISSAL OF COURT PROCEEDINGS, ETC.

 

		5.1.	Within five (5) days after the execution of this Agreement, the Parties shall jointly
notify the arbitral tribunal that the Parties have reached an agreement to settle the License Arbitrations and SMCF Arbitrations. The
form and content of the notification shall be in accordance with Appendix D.

 

     

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		5.2.	Pursuant to Article 33 of the ICC Rules, each Party shall request the arbitral
tribunal to issue a consent award recording the terms of this Agreement, and the other Party shall agree to the consent award. The form
and content of the notification shall be in accordance with Appendix E.

 

		5.3.	Each Party shall bear its own legal costs in relation to the License Arbitrations
and SMCF Arbitrations. Any outstanding fees and expenses of the arbitral tribunal and the ICC (or any refund in respect thereof) shall
be borne or shared (as the case may be) 50% by PE Group and 50% by FCE.

		5.4.	Within five (5) days after the execution of this Agreement, PE and FCE shall jointly
file a stipulation of dismissal with prejudice of the New York Proceedings pursuant to Federal Rule of Civil Procedure 41(a)(1)(A)(ii).
Each Party shall bear its own legal fees and costs in relation to the New York Proceedings.

 

		5.5.	Within five (5) days after the execution of this Agreement, PE shall file an application
to the Seoul Central District Court to revoke the Preliminary Attachments and FCE shall provide necessary assistance including but not
limited to agreeing to the revocation of preliminary attachment and cancellation of the court deposit.

 

		5.6.	Within five (5) days after the execution of this Agreement, FCE shall withdraw
in writing the objection to the spin-off of KFC from PE which was submitted by FCE to PE on October 22, 2019.

 

		6.	CONFIDENTIALITY

 

		6.1.	Unless otherwise allowed herein, the Parties agree that they, their attorneys,
and any person on their behalf will maintain the confidentiality of the terms of this Agreement, except that the Parties may convey, consistent
with the press release, that the Parties have reached an agreement resolving their disputes, the Parties are cooperating to ensure that
the needs of Existing Customers and of the broader MCFC market are addressed, and FCE has the right to pursue New Fuel Cell Projects.
Subject to Section 3.9 above, no information concerning the terms of this Agreement will be disclosed to any party, including but not
limited to any representative of the news media, without the prior written consent of the other Party, except to the extent required by
a Party to carry out its obligations under this Agreement or as required by applicable law or disclosure rules, including under United
States federal and state securities laws and regulations. Any Party may disclose the terms of this Agreement to any government agency
to which such information must be disclosed according to applicable rules, regulations, or statutes only to the extent required by applicable
law. A disclosing Party must notify the other Party of any such disclosure and as permitted under applicable law, obtain the notified
Party’s prior written consent.

 

     

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		7.	MISCELLANEOUS

 

		7.1.	No Admission

 

This Agreement and its terms and conditions
may not be represented or construed, or admitted into evidence, against any Party in any suit or proceeding as a confession or admission
of liability.

 

		7.2.	Entire Agreement

 

The terms and conditions contained in
this Agreement constitute the entire agreement between the Parties relating to the subject matter described herein (except as expressly
stated herein) and supersede all prior oral and written agreements, understandings, or arrangements relating to such subject matter. If
there is any conflict between the Previous Agreements and this Agreement, this Agreement shall prevail.

 

		7.3.	No Assignment

 

This Agreement will be binding
upon and inure to the benefit of the Parties and their respective successors. No Party will, or has the power to, assign this Agreement,
or any part hereof, without the prior written consent of the other Party, and any such unauthorized assignment shall be null and void.

 

		7.4.	Termination

 

		7.4.1.	Termination by Mutual Agreement. This Agreement may be terminated, without
any further obligation or liability, by mutual written agreement of the Parties.

 

		7.4.2.	Termination by Material Breach.  In the event that FCE materially breaches
this Agreement by failing to supply the Modules for which KFC is placing firm, non-cancelable orders in Sections 2.1 and 2.2 — as
long as KFC has made the payment for such Modules and has otherwise satisfied its contractual obligations for those Modules, including
but not limited to the requirement that PE Group shall not supply any Modules provided by FCE to any customers in violation of U.S. sanctions
law — and such material breach is not cured within 60 days after notice from PE Group, PE Group shall have the right to terminate
this Agreement.  In the event that KFC materially breaches this Agreement by failing to make timely and full payment for the Modules
for which KFC is placing firm, non-cancelable orders in Sections 2.1 and 2.2 — and does not cure such material breach within fifteen
(15) days of notice of such breach by FCE — the IP License Agreements, as amended in Section 3.2 of this Agreement, and the Right
to Service license granted to the PE Group in Section 3.2.1 of this Agreement, are terminated.  With respect to any other alleged
breach, material or otherwise, of this Agreement, the Parties’ exclusive remedy consist solely of general damages.  No Party
is liable under this Agreement for punitive, consequential, and/or special damages, with the exception that if either Party tortiously
interferes with the other Party’s business in violation of Sections 3.2.4 and 3.2.5 above, the resulting damages arising from the
lost business opportunities shall be considered recoverable damages and will not constitute impermissible punitive, consequential, and/or
special damages.

 

		7.5.	Survival. Sections 7.9 and 7.10 shall survive notwithstanding the termination
of this Agreement.

 

     

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		7.6.	Amendment

 

This Agreement may not be amended or
modified except by an instrument in writing signed by the duly authorized representatives of each of the Parties.

 

		7.7.	Waiver

 

No delay or omission by either of the
Parties in exercising any of its rights or remedies under this Agreement or otherwise available to it shall impair such right or remedy
or constitute a waiver thereof, nor shall any single or partial exercise of such right or remedy preclude any other or further exercise
thereof or the exercise of any other right or remedy. The Parties’ respective rights and remedies under this Agreement are cumulative
and not exclusive of any rights or remedies which any Party would otherwise have available to it.

 

		7.8.	Severability

 

In the event that any clause or provision
or part thereof in this Agreement shall for any reason be determined by any court or tribunal to be illegal, invalid or unenforceable,
then the remaining clauses or provisions or any part thereof shall not be affected, impaired or invalidated and shall remain in full force
and effect and shall continue to be binding upon the Parties. Such illegal, invalid or unenforceable clause or provision shall be deemed
to be replaced with a lawful, valid, and enforceable term, condition, or provision, most closely approximating the intention of the Parties
as expressed herein.

 

		7.9.	Governing Law

 

This Agreement, and any disputes arising
out of or in connection with this Agreement, shall be governed by, construed, and enforced in accordance with the laws of New York, without
regard to the principles of choice of law of any jurisdiction.

 

		7.10.	Dispute Resolution

 

Any claims or disputes whatsoever between
the Parties arising out of, or in connection with, (i) this Agreement (including without limitation to any question regarding its existence,
validity, or termination and including with respect to whether a penalty amount payable by PE Group to their customers under Section 3
of Appendix A (Warranty / Performance Guaranty) is caused by a defect or shortfall from a module supplied by FCE), (ii) the parties’
previous agreements, (iii) the relationship of the Parties, and (iv) the Parties’ future agreements, including the Module Supply
Agreements and any BOP supply agreement, unless such future agreements specifically reference this Agreement and this Dispute Resolution
provision and state explicitly that the Parties intend for a separate dispute resolution process to govern disputes in connection with
such future agreements, shall be referred to, and finally determined by, arbitration administered under the ICC Rules in force when the
request for arbitration is submitted. The number of arbitrators shall be three (3). Each Party shall designate one arbitrator and PE Group
and FCE will be treated as a single party for purposes of the designation of an arbitrator. The third arbitrator shall be designated by
the two arbitrators designated by the Parties. If either Party fails to designate an arbitrator within thirty (30) days after the filing
of the Dispute with the ICC, such arbitrator shall be appointed in the manner prescribed by the ICC Rules. The seat of the Arbitration
shall be Seoul. The language of the arbitration shall be English. The location of any physical hearings shall be in Tokyo, Japan. As noted
in Section 8.7, this Agreement, and any disputes arising out of or in connection with this Agreement, shall be governed by, construed,
and enforced in accordance with the laws of New York, without regard to the principles of choice of law of any jurisdiction. The arbitration
under this provision shall be the sole and exclusive forum for resolution of any claims or disputes between the parties whatsoever, including
any claims, disputes, or preliminary or interim relief (including attachments) that may arise out of, or relate in any way to, this Agreement,
the relationship of the Parties, any of the previous agreements between the Parties, and any future agreement (subject to the language
above). The decision or award of the arbitrators shall be final and binding on the Parties. Any award of the arbitrators shall be in writing
and shall state the reasons upon which such decision or award is based. In the event of any conflict between the ICC Rules and any provision
of this Agreement, this Agreement shall govern.

 

     

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		7.11.	Approvals

 

PE shall be responsible for obtaining
all approvals necessary for the prompt performance of its obligations and acts under this Agreement from governmental and other authorities
in Korea if any. KFC shall be responsible for obtaining all approvals necessary for the prompt performance of its obligations and acts
under this Agreement from governmental and other authorities in Korea if any. FCE shall be responsible for obtaining all approvals necessary
for the prompt performance of its obligations and acts under this Agreement from governmental and other authorities in the United States
of America if any.

 

		7.12.	Costs

 

The Parties shall each bear their own
costs and fees, including legal fees and taxes, in relation to this Agreement.

 

		7.13.	Counterparts

 

This Agreement may be executed in one
or more counterparts, each of which shall be considered an original but all of which together shall constitute one and the same agreement.
Signatures may be evidenced by facsimile, whether electronic or not. The Parties need not sign the same counterpart.

 

[signature pages follow]

 

     

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IN WITNESS WHEREOF, the Parties have caused
this Agreement to be executed by their respective duly authorized representatives on the date first set forth above.

  

	FuelCell Energy Inc.	 
	 	 
	By:	/s/ Jason Few	 
	 	 
	Name: Jason Few	 
	Title: Chief Executive Officer	 

 

     

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IN WITNESS WHEREOF, the Parties have caused this Agreement
to be executed by their respective duly authorized representatives on the date first set forth above.

 

	POSCO Energy Co., Ltd.	 
	 	 
	By:	/s/ Jeong Ki Seop	 
	 	 
	Name: Jeong Ki Seop	 
	Title: Chief Executive Officer	 

 

     

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IN WITNESS WHEREOF, the Parties have caused this Agreement
to be executed by their respective duly authorized representatives on the date first set forth above.

 

	Korea Fuel Cell Co., Ltd.	 
	 	 
	By:	/s/ Lee Keun Bae	 
	 	 
	Name: Lee Keun Bae	 
	Title: Chief Executive Officer	 

 

     

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APPENDIX A

 

Material Terms and Conditions of Supply
of Modules to be incorporated into Module Supply Agreements.

 

		1.	Purchase Price

 

Based on EXW (Incoterms 2020) conditions,
the purchase price for those twenty (20) Modules referenced in Sections 2.1 and 2.2 and for up to an additional fourteen (14) Modules
referenced in Section 2.3 shall be USD three (3) million, provided that a firm order for each such Module is placed prior to the end of
2022. FCE shall hold the price at USD three (3) million per Module for any additional orders provided that such orders are placed by 31
December 2022. For any orders for additional Modules or Module orders placed after 2022, FCE shall use its commercially reasonable efforts
to supply Modules at a price reasonably adjusted reflecting market conditions as well as any increases in costs.

 

		2.	Delivery Terms

 

The Modules shall be delivered on
the basis of EXW either FCE’s Danbury or Torrington site (Incoterms 2020).

 

		3.	Warranty / Performance Guarantee

 

		(a)	FCE shall provide its standard warranty against defects until the earlier of eighteen
(18) months from the date of shipment or twelve (12) months from the date of installation.

 

		(b)	Further, for a period of seven (7) years after installation of the Modules:

 

		(i)	Subject to the terms and conditions of Section 3(b)(ii) and 3(b)(iii) of Appendix A, FCE shall reimburse
the PE Group for any annual output penalty amount paid by PE Group to a customer pursuant to the existing, extended, or renewed LTSA,
caused by a shortfall or defect in the Modules to be supplied by FCE as agreed herein (“Module Defect”); provided, however,
that PE Group will not (i) operate any module or (ii) enter into agreements with LTSAs guaranteeing performance, in a manner that
is inconsistent with the performance and operational specifications set forth in FCE’s operational Application Guide (as further
agreed in the future individual module supply agreements) and FCE’s maximum annual reimbursement obligation with regard to any PE
Group customer for any Module provided by FCE to such customer shall not exceed an amount equal to 7.5% of the Module purchase price paid
per year. FCE shall not be required to reimburse the PE Group for any penalty paid by PE Group to their customers pursuant to the existing,
extended, or renewed LTSAs that is not caused by a shortfall or defect in the Modules to be supplied by FCE including, without limitation,
any shortfall or defect caused by a site-related problem, a problem with the balance of plant, or other components of the project (a “Non-Module
Defect or Cause”). In the event that the cause of such penalty is found to be attributable both to a Module Defect and to a Non-Module
Defect or Cause, FCE will only be required to reimburse the PE Group for the penalty amount paid by PE Group caused by the Module Defect,
subject to the foregoing annual cap of 7.5% of the Module purchase price per year. The procedure and standards of determining the cause
and attribution of the penalty amount paid by PE Group shall be determined in the individual module supply agreements.

 

     

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		(ii)	If the term of the existing, renewed, or extended LTSA between PE Group and the
Existing Customer is for five (5), rather than seven (7), years, FCE’s reimbursement obligations set forth in Section 3(b)(i) immediately
above are confined to five (5) years.

 

		(iii)	FCE’s reimbursement obligation set forth in Section 3(b)(i) of Appendix A
above with regard to any LTSA of a PE Group customer for a Module provided by FCE shall be subject to the following terms and conditions:

 

A. At the time FCE provides a Module
to PE Group for an Existing Customer, PE Group shall provide FCE with a copy of the LTSA for such customer as well as historical operating
and performance data for such project in a format reasonably requested by FCE. Further, after FCE provides a Module to the PE Group for
a specific PE Group customer, FCE has the right to monitor and PE Group will facilitate establishment of real-time performance data monitoring
for the individual project site at which the Module is installed and receive information demonstrating the service provided to that project
site.

 

B. For Existing LTSAs in place
at the time of the Effective Date, PE Group represents and warrants that such LTSAs include:

 

(X) output requirements and penalties
that are reasonably reduced over specific time frames consistent with the depreciation of the project and applicable penalty amounts that
do not exceed the reasonable economic loss to the customer; and

 

(Y) provisions that ensure that in
any year in which an output penalty would be payable by the PE Group to the customer, the PE Group may credit against any such penalty
the value of output generated in excess of the annual guaranteed power output in any prior years.

 

C. For any future Existing LTSAs
(i.e., renewals, extensions, or other continuations of Existing LTSAs) that are not in place at the time of the Effective Date,
the LTSA between the PE Group and its customer shall provide that:

 

(X) output requirements and penalties
are reasonably reduced over specific time frames consistent with the depreciation of the project and applicable penalty amounts do not
exceed the reasonable economic loss to the customer; and

 

(Y) in any year in which an output
penalty would be payable by the PE Group to the customer, the PE Group may credit against any such penalty the value of output generated
in excess of the annual guaranteed power output in any prior years.

 

     

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D. In the event that any customer
of the PE Group asserts that it is owed a performance penalty under an LTSA with respect to any such Module provided by FCE hereunder
for which the PE Group intends to seek reimbursement from FCE, the PE Group shall provide FCE, on a prompt and ongoing basis, with copies
of all material communications regarding such claim between the PE Group and its customers and all such data and information that FCE
may otherwise reasonably request in order for FCE to evaluate whether the performance shortfall is attributable to a Module Defect.

 

		(iv)	FCE’s reimbursement obligation, as set forth in Subsection (i) above shall
be reduced (or PE Group shall reimburse FCE if FCE has already made a payment to the PE Group) for any amount that can be offset by the
PE Group against any prior output penalty amount pursuant to the LTSA due to output generated in excess of the guaranteed power output,
as referenced in Subsections (b)(ii)(B)(Y) and (c)(ii)(B)(Y) above.

 

		4.	Payment Terms

 

The purchase price for each Module
shall be paid 15 days after FCE’s invoice as follows:

 

		(a)	First Payment: 30% upon acceptance of Purchase Order

		(b)	Second Payment: 30% 60 days prior to EXW date

		(c)	Third Payment: 40% EXW date

 

In connection with the invoice for
the Second Payment, FCE shall provide to the PE Group an approved production plan that reasonably supports that delivery of the Module
can be made within 60 days after the date of invoice.

 

5. Additional
Information

 

Appendix B sets forth certain information
to be provided by FCE to the PE Group with regard to each purchase of Modules.

 

     

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APPENDIX B

 

(1) Documents to be supplied in accordance with Section
2.5

 

	No.	Items	Description	Type
	1	Summary Report of Stack Module lifetime enhancement Project	Summary of the status and path-forward plan of Development for longer Stack Lifetime (7&10 years)	Summary Report
	2	RC Life Enhancement Basis	Documents explaining what has been changed, and the reasons for change, regarding Repeating Components such as DIR Catalyst, IIR Catalyst, RU Cell pattern, DIR Cell Pattern, Anode, Cathode, Matrix, Electrolyte and etc.	Summary Report 
	3	NRC Life Enhancement Basis	Documents explaining what has been changed, and the reasons for change, regarding Non-Repeating Components such as PAD, Manifold, Mixer/Eductor & Oxidizer, T-Duct, Sensor, Wiring Harness, End Post, MRC and etc.	Summary Report
	4	Single Cell Test Results	Unit Cell Lab-scale Test Results & Reports compared to 5-yr lifetime single cell	Summary Report
	5	30kW Tech. Stack Test Results	Tech. Stack Lab-scale Test Results & Report compared to 5-yr lifetime tech. stack	Summary Report
	6	1st Article Test Report	Conditioning and Operation test results of 1st Article 7-yr Stack Module	Summary Report
	7	Operation Records of Full-Scale Module at actual sites	Operation data (Voltage, Current, Power, Fuel Utilization, Temperature, Pressure etc.) @ Actual Sites compared to 5-yr lifetime stack module	Summary Report

 

     

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	8	Maintenance	Design/Engineering Changes	ECM, ECN, Related materials (Supported data) 	
    Documents & Training

    FCE ECO Document No. 1152 will be provided. The drawing package will
    include all impacted components as related to maintenance and service per ECO 1152. This can be furnished by 12/31/2021.

	Work Instructions	WI (Work Instruction) 	
    Documents & Training

    Service impact to the module is limited, and outside the requested
    drawings and procedures listed herein, there are no additional updates to work instructions.

	Special Tools & Jigs	Special Tools & Jigs needed for Engineering changes	
    Documents & Training

    Procedure and tooling supplies for vane adjustments, to be available
    and can be provided by 1/31/2022.

	Documents & Drawings	All documents/drawings affected by the changes (Instrumentation, IJB, Module Ass’y Drawing, etc.)	
    Documents

    Drawings pertinent to module service are available and can be provided
    in a package by 12/31/2021.

	Module/stack BOM	BOM &   Sub-Vendor List (including prices)	
    Documents

    The module BOM down to the manifolded stack can be provided by 12/31/2021.
    FCE can also provide updates on suppliers for components required for service operations by 12/31/2021.

	Maintenance Manual	The latest version of maintenance manual (including prices)	
    Documents

    There is no change to the Maintenance Manual other to the bus bar installation
    procedure. All relevant installation requirements are provided in the module installation drawings and a breakout of the bus bar installation
    procedure can be provided by 12/31/2021.

	Installation Manual	The latest version of installation manual includes module replacement 	
    Documents

    There is no change to the Installation Manual other to the bus bar
    installation procedure. All relevant installation requirements are provided in the module installation drawings and a breakout of the
    bus bar installation procedure can be provided by 12/31/2021.

	9	Operation	Operation Logic	The latest versions of operation logic includes module life extension 	
    Documents & Training

    New logic is available and will be supplied in concert with module
    delivery and installation.

	Alarm List	Including supported data and descriptions	
    Documents

    The Alarm List is available and can be provided by 12/31/2021.

 

     

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(2) Documents to be supplied prior to third payment invoice

 

	No.	Items	Description	Type
	1	Post Conditioning Module Quality Control Report	Conditioning Acceptance Certification & Analysis Report. This report includes: Conditioning Data Report, Post Conditioning Inspection Results (Form-282), Post Packaging Inspection Results (For-283), Photos (End Post prior to Shipping Restraint installation, Each Shipping Restraint, Post Crating/Shrink Wrap, Cathode Outlet Humidity Indicators, Secondary Air, Fuel and Primary Air Indicators, Shock Indicator and Shock Recorder for each Module.	
     

    Report

	2	Module Certification of Compliance 	Formal Quality Control Certification (signed by Authorized FCE Quality Agent) certifying equipment compliance.	Report

  

     

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APPENDIX C

 

Terms which shall be included in any
O&M Agreement between FCE and KFC with respect to a new MCFC project undertaken by FCE in Korea.

 

		1.	Parties

 

The parties
to any such O&M Agreement shall be FCE and KFC.

 

		2.	Scope of KFC’s Service

 

The scope
of KFC’s services under O&M Agreements shall be qualified as follows:

 

		(a)	Installation of plant: Separate agreements shall be executed for each project
setting forth services regarding plant construction.

 

		(b)	Preventive and emergency maintenance: KFC shall only conduct maintenance
services without bearing the cost of materials.

 

		(c)	Stack repair: Separate agreements shall be executed for each occurrence
of a repair.

 

		3.	Scope of liability

 

Apart from its
responsibilities under an O&M Agreement with FCE, KFC shall not be held liable to FCE for any other responsibilities, including any
output guarantee, under the new LTSA entered into by FCE corresponding to the new MCFC project to which such O&M Agreement relates.

 

		4.	Service Fees

 

The service fees
paid by FCE to KFC under each O&M Agreement will be on commercially reasonable terms and shall be determined based on a costs-plus-markup
basis, the details of which FCE and KFC will discuss in good faith, considering the terms and conditions of the LTSA corresponding to
the new MCFC project to which such O&M Agreement relates.

 

     

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APPENDIX D

 

Dear Members of the Tribunal,

 

We are pleased to inform you that the parties have reached
a final settlement with respect to the current dispute in this arbitration with reference number [insert
reference number of relevant case], as attached.

  

We understand the [insert
counterparty of party sending email] will confirm by separate email that the attachment is the final settlement agreement
between the parties.

 

Thank you very much for your consideration.

 

     

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APPENDIX E

 

Dear Members of the Tribunal,

 

The parties respectfully request that the Tribunal issue a consent
award based on the attached final settlement agreement dated [insert date]
between the parties (the “Agreement”).

 

The parties confirm that the Tribunal has jurisdiction to issue the
Award by Consent – under Article 33 of the ICC Rules – pursuant to the Agreement, with the following relief:

 

1.      Ordering
that the Agreement dated [insert date] between the parties, the dispositive
terms of which are incorporated in this Award by Consent, be recorded verbatim as an enforceable Award by Consent under Article 33 of
the ICC Rules on the agreed upon terms as between the Parties to this arbitration.

2.      Ordering
the Parties to comply with the terms of the Agreement.

3.      Ordering
the Parties to bear their own costs of this arbitration, whether their own costs and attorneys’ fees incurred in connection with
this arbitration or the costs and fees paid to the ICC in connection with this arbitration, in accordance with the terms of the Agreement.

 

We understand the [insert
counterparty of party sending email] will confirm by separate email that (i) the parties jointly request the issuance of
an Award by Consent based on the attachment and (ii) the Tribunal has jurisdiction to issue an Award by Consent pursuant to the attachment.

 

Thank you very much for your consideration.

     

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APPENDIX F

 

	No.	Customer	Site Address
	1	Gyeonggi Green Energy	77, Barangongdan-ro 3-gil, Hyangnam-eup, Hwaseong-si, Gyeonggi-do, Republic of Korea
	2	Noeul Green Energy	108-2, Haneulgongwon-ro, Mapo-gu, Seoul, Republic of Korea
	3	Godeok Green Energy	32, Arisu-ro 87-gil, Gangdong-gu, Seoul, Republic of Korea
	4	Korea Western Power Co., Ltd. (KOWEPO)	57, Jangdo-ro, Seo-gu, Incheon, Republic of Korea
	5	CGN Yulchon Generation Co., Ltd.	360-202, Indeok-ro, Gwangyang-eup, Gwangyang-si, Jeollanam-do, Republic of Korea
	6	S-Power	40, Iljik-dong, Gwangmyeong-si, Gyeonggi-do, Republic of Korea
	7	Korea East-West Power Co.,Ltd (EWP)	201, Gyeongui-ro, Ilsandong-gu, Goyang-si, Gyeonggi-do, Republic of Korea
	8	Korea East-West Power Co.,Ltd (EWP)	623, Yongjam-ro, Nam-gu, Ulsan, Republic of Korea
	9	Posco Energy	99, Deongneung-ro 70-gil, Nowon-gu, Seoul, Republic of Korea
	10	Posco Energy	154, Yeongilmansandan-ro 88beon-gil, Heunghae-eup, Buk-gu, Pohang-si, Gyeongsangbuk-do, Republic of Korea
	11	Byucksan Engineering	466, Eulsukdo-daero, Saha-gu, Busan, Republic of KoreaEX-4.4

 Exhibit 4.4 

WARRANT AGREEMENT 
 THIS
WARRANT AGREEMENT (this “Agreement”), dated as of [●] 2021, is by and between Roman DBDR Tech Acquisition Corp. II, a Delaware corporation (the “Company”), and Continental Stock Transfer &
Trust Company, a New York corporation, as warrant agent (the “Warrant Agent”, also referred to herein as the “Transfer Agent”). 

WHEREAS, the Company is engaged in an initial public offering (the “Offering”) of units of the Company’s equity
securities, each such unit comprised of one share of Class A common stock of the Company, par value $0.0001 per share (“Common Stock”) and one-third of one redeemable Public
Warrant (as defined below) (the “Units”) and, in connection therewith, has determined to issue and deliver up to 8,333,333 warrants (or up to 9,583,333 warrants if the Over-allotment
Option is exercised in full) to public investors in the Offering (the “Public Warrants”); and 
 WHEREAS, on
[●], 2021, the Company entered into that certain Private Placement Warrants Purchase Agreement with Roman DBDR Tech Sponsor II LLC, a Delaware limited liability company (the “Sponsor”), pursuant to which the Sponsor
agreed to purchase an aggregate of 11,267,560 warrants (or 12,580,060 in the event that the Over-allotment Option (as defined below) in connection with the Company’s Offering is exercised in full) simultaneously with the closing of the Offering
bearing the legend set forth in Exhibit B hereto (the “Private Placement Warrants”) at a purchase price of $1.00 per Private Placement Warrant; and 

WHEREAS, in order to finance the Company’s transaction costs in connection with an intended initial Business Combination (as defined
below), the Sponsor or an affiliate of the Sponsor or certain of the Company’s executive officers and directors may, but are not obligated to, loan to the Company funds as the Company may require, of which up to $1,500,000 of such loans may be
convertible into up to an additional 1,500,000 warrants at a price of $1.00 per warrant (the “Working Capital Warrants” and together with the Private Placement Warrants and the Public Warrants, the
“Warrants”); and 
 WHEREAS, following consummation of the Offering, the Company may issue additional warrants
(“Post IPO Warrants”; together with the Private Placement Warrants, the Working Capital Warrants and the Public Warrants, the “Warrants”) in connection with, or following the consummation by the
Company of, a Business Combination (defined below); and 
 WHEREAS, the Company has filed with the Securities and Exchange Commission (the
“Commission”) a registration statement on Form S-1, File No. 333-[●] (the “Registration Statement”) and a prospectus (the
“Prospectus”), for the registration, under the Securities Act of 1933, as amended (the “Securities Act”), of the Units, the Public Warrants and the Common Stock included in the Units; and 

 WHEREAS, the Company desires the Warrant Agent to act on behalf of the Company, and the
Warrant Agent is willing to so act, in connection with the issuance, registration, transfer, exchange, redemption and exercise of the Warrants; and 

WHEREAS, the Company desires to provide for the form and provisions of the Warrants, the terms upon which they shall be issued and exercised,
and the respective rights, limitation of rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants; and 

WHEREAS, all acts and things have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company and
countersigned by or on behalf of the Warrant Agent, as provided herein, the valid, binding and legal obligations of the Company, and to authorize the execution and delivery of this Agreement. 

NOW, THEREFORE, in consideration of the mutual agreements herein contained, the parties hereto agree as follows: 

ARTICLE 1 
 APPOINTMENT
OF WARRANT AGENT 
 Section 1.1    The Company hereby appoints the Warrant Agent to act as agent for the
Company for the Warrants, and the Warrant Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions set forth in this Agreement. 

ARTICLE 2 
 WARRANTS

 Section 2.1    Form of Warrant. Each Warrant shall be issued in registered form only, and, if a
physical certificate is issued, shall be in substantially the form of Exhibit A hereto, the provisions of which are incorporated herein and shall be signed by, or bear the facsimile signature of, the Chairman of the Board, President, any
Chief Executive Officer, Chief Financial Officer, Secretary or other principal officer of the Company. In the event the person whose facsimile signature has been placed upon any Warrant shall have ceased to serve in the capacity in which such person
signed the Warrant before such Warrant is issued, it may be issued with the same effect as if he or she had not ceased to be such at the date of issuance. 

Section 2.2    Effect of Countersignature. If a physical certificate is issued, unless and until countersigned
by the Warrant Agent pursuant to this Agreement, a Warrant certificate shall be invalid and of no effect and may not be exercised by the holder thereof. 

Section 2.3    Registration. 

2.3.1    Warrant Register. The Warrant Agent shall maintain books (the “Warrant Register”)
for the registration of original issuance and the registration of transfer of the Warrants. 

  
 -2- 

 
Upon the initial issuance of the Warrants, the Warrant Agent shall issue and register the Warrants in the names of the respective holders thereof in such denominations and otherwise in accordance
with instructions delivered to the Warrant Agent by the Company. All of the Public Warrants shall initially be represented by one or more book-entry certificates (each, a “Book-Entry Warrant Certificate”) deposited with The
Depository Trust Company (the “Depositary”) and registered in the name of Cede & Co., a nominee of the Depositary. Ownership of beneficial interests in the Public Warrants shall be shown on, and the transfer of such
ownership shall be effected through, records maintained by (i) the Depositary or its nominee for each Book-Entry Warrant Certificate, or (ii) institutions that have accounts with the Depositary (each such institution, with respect to a
Warrant in its account, a “Participant”). 
 If the Depositary subsequently ceases to make its book-entry settlement
system available for the Public Warrants, the Company may instruct the Warrant Agent regarding making other arrangements for book-entry settlement. In the event that the Public Warrants are not eligible for, or it is no longer necessary to have the
Public Warrants available in, book-entry form, the Warrant Agent shall provide written instructions to the Depositary to deliver to the Warrant Agent for cancellation each Book-Entry Warrant Certificate, and the Company shall instruct the Warrant
Agent to deliver to the Depositary definitive certificates in physical form evidencing such Warrants (“Definitive Warrant Certificate”). Such Definitive Warrant Certificate shall be in the form annexed hereto as Exhibit
A, with appropriate insertions, modifications and omissions, as provided above. 
 2.3.2    Registered
Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent may deem and treat the person in whose name such Warrant is registered in the Warrant Register (the “Registered
Holder”) as the absolute owner of such Warrant and of each Warrant represented thereby (notwithstanding any notation of ownership or other writing on a Definitive Warrant Certificate made by anyone other than the Company or the Warrant
Agent), for the purpose of any exercise thereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary. 

Section 2.4    Detachability of Warrants. The Common Stock and Public Warrants comprising the Units shall
begin separate trading on the 52nd day following the date of the Prospectus or, if such 52nd day is not on a day, other than a Saturday, Sunday or federal holiday, on which banks in New York City are generally open for normal business (a
“Business Day”), then on the immediately succeeding Business Day following such date, or earlier (the “Detachment Date”) with the consent of B. Riley FBR, Inc., as representatives of the several
underwriters (the “Representatives”), but in no event shall the Common Stock and the Public Warrants comprising the Units be separately traded until (A) the Company has filed a current report on Form 8-K with the Commission containing an audited balance sheet reflecting the receipt by the Company of the gross proceeds of the Offering, including the proceeds received by the Company from the exercise by the
underwriters of their right to purchase additional Units in the Offering (the “Over-Allotment Option”), if the Over-Allotment Option is exercised prior to the filing of the Form 8-K,
and (B) the Company issues a press release and files with the Commission a current report on Form 8-K announcing when such separate trading shall begin. 

  
 -3- 

 Section 2.5    No Fractional Warrants Other Than as Part of
Units. The Company shall not issue fractional Warrants other than as part of the Units, each of which is comprised of one share of Common Stock and one-third of one Public Warrant. If, upon the detachment
of Public Warrants from Units or otherwise, a holder of Warrants would be entitled to receive a fractional Warrant, the Company shall round down to the nearest whole number the number of Warrants to be issued to such holder. 

Section 2.6    Private Placement Warrants and Working Capital Warrants. The Private Placement Warrants and the
Working Capital Warrants shall be identical to the Public Warrants, except that so long as they are held by the Sponsor or any Permitted Transferees (as defined below), as applicable, the Private Placement Warrants and the Working Capital Warrants:
(i) may be exercised for cash or on a cashless basis, pursuant to subsection 3.3.1(c) hereof, (ii) may not be transferred, assigned or sold until thirty (30) days after the completion by the Company of an initial Business
Combination (as defined below), and (iii) shall not be redeemable by the Company; provided, however, that in the case of (ii) the Private Placement Warrants and the Working Capital Warrants and any shares of Common Stock held
by the Sponsor or any Permitted Transferees, as applicable, and issued upon exercise of the Private Placement Warrants and the Working Capital Warrants may be transferred by the holders thereof: 

(a)    to the Company’s officers or directors, any affiliate or family member of any of the Company’s officers
or directors, any affiliate of the Sponsor or to any member(s) of the Sponsor or any of their affiliates, officers, directors and direct and indirect equityholders; 

(b)    in the case of an individual, by gift to a member 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 the laws of descent and distribution upon death of such person; 

(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 an initial Business Combination at prices
no greater than the price at which the Warrants were originally purchased; 
 (f)    in the event of the Company’s
liquidation prior to consummation of the Company’s Business Combination; or 
 (g)    by virtue of the laws of the
State of Delaware or the Sponsor’s limited liability company agreement upon dissolution of the Sponsor; 
 provided, however, that, in
the case of clauses (a) through (e), these transferees (the “Permitted Transferees”) enter into a written agreement with the Company agreeing to be bound by the transfer restrictions in this Agreement. 

Section 2.7    Working Capital Warrants. The Working Capital Warrants shall be identical to the Private
Placement Warrants. 

  
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 Section 2.8    Post-IPO
Warrants. The Post-IPO Warrants, when and if issued, shall have the same terms and be in the same form as the Public Warrants except as may be agreed upon by the Company. 

ARTICLE 3 
 TERMS AND
EXERCISE OF WARRANTS 
 Section 3.1    Warrant Price. Each whole Warrant shall entitle the Registered
Holder thereof, subject to the provisions of such Warrant and of this Agreement, to purchase from the Company the number of shares of Common Stock stated therein, at the price of $11.50 per share, subject to the adjustments provided in
Section 4 hereof and in the last sentence of this Section 3.1. The term “Warrant Price” as used in this Agreement shall mean the price per share at which shares of Common Stock may be
purchased at the time a Warrant is exercised. The Company in its sole discretion may lower the Warrant Price at any time prior to the Expiration Date (as defined below) for a period of not less than twenty (20) Business Days; provided, that the
Company shall provide at least five (5) days’ prior written notice of such reduction to Registered Holders of the Warrants; and provided further, that any such reduction shall be identical among all of the Warrants. 

Section 3.2    Duration of Warrants. A Warrant may be exercised only during the period (the
“Exercise Period”) commencing on the later of: (i) the date that is thirty (30) days after the first date on which the Company completes a merger, capital stock exchange, asset acquisition, stock purchase,
reorganization or similar business combination, involving the Company and one or more businesses (a “Business Combination”), or (ii) the date that is twelve (12) months from the date of the closing of the Offering,
and terminating at 5:00 p.m., New York City time on the earlier to occur of: (x) the date that is five (5) years after the date on which the Company completes its initial Business Combination, (y) the liquidation of the Company, or
(z) other than with respect to the Private Placement Warrants and the Working Capital Warrants to the extent then held by the original purchasers thereof or their Permitted Transferees, the Redemption Date (as defined below) as provided in
Section 6.3 hereof (the Expiration Date”); provided, however, that the exercise of any Warrant shall be subject to the satisfaction of any applicable conditions, as set forth
in subsection 3.3.2 below with respect to an effective registration statement or a valid exemption therefrom being available. Except with respect to the right to receive the Redemption Price (as defined below) (other than with respect to a
Private Placement Warrant or a Working Capital Warrant then held by the original purchasers thereof or their Permitted Transferees), in the event of a redemption (as set forth in Section 6 hereof), each outstanding Warrant
(other than a Private Placement Warrant or a Working Capital Warrant to the extent then held by the original purchasers thereof or their Permitted Transferees in the event of a redemption) not exercised on or before the Expiration Date shall become
void, and all rights thereunder and all rights in respect thereof under this Agreement shall cease at 5:00 p.m. New York City time on the Expiration Date. The Company in its sole discretion may extend the duration of the Warrants by delaying the
Expiration Date; provided, that the Company shall provide at least twenty (20) days prior written notice of any such extension to Registered Holders of the Warrants and, provided further that any such extension shall be identical in
duration among all the Warrants. 

  
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 Section 3.3    Exercise of Warrants. 

3.3.1    Payment. Subject to the provisions of the Warrant and this Agreement, a Warrant may be exercised by the
Registered Holder thereof by delivering to the Warrant Agent at its corporate trust department (i) the Definitive Warrant Certificate evidencing the Warrants to be exercised, or, in the case of a Book-Entry Warrant Certificate, the Warrants to
be exercised (the “Book-Entry Warrants”) on the records of the Depositary to an account of the Warrant Agent at the Depositary designated for such purposes in writing by the Warrant Agent to the Depositary from time to time,
(ii) an election to purchase (“Election to Purchase”) shares of Common Stock pursuant to the exercise of a Warrant, properly completed and executed by the Registered Holder on the reverse of the Definitive Warrant
Certificate or, in the case of a Book-Entry Warrant Certificate, properly delivered by the Participant in accordance with the Depositary’s procedures, and (iii) payment in full of the Warrant Price for each full share of Common Stock as to
which the Warrant is exercised and any and all applicable taxes due in connection with the exercise of the Warrant, the exchange of the Warrant for the shares of Common Stock and the issuance of such shares of Common Stock, as follows: 

(a)    by certified check payable to the order of the Warrant Agent or by wire transfer; 

(b)    in the event of a redemption pursuant to Section 6 hereof in which the Company’s
board of directors (the “Board”) has elected to require all holders of the Warrants to exercise such Warrants on a “cashless basis,” by surrendering the Warrants for that number of shares of Common Stock equal to
the quotient obtained by dividing (x) the product of the number of shares of Common Stock underlying the Warrants, multiplied by the difference between the Warrant Price and the “Fair Market Value”, as defined in this subsection
3.3.1(b) by (y) the Fair Market Value. The term “Fair Market Value” shall mean the volume-weighted average price of the Common Stock for the ten (10) trading days ending on the third trading day prior to the date on which the
notice of redemption is sent to the holders of the Warrants, pursuant to Section 6 hereof; 

(c)    with respect to any Private Placement Warrant or Working Capital Warrant, so long as such Private Placement Warrant
or Working Capital Warrant is held by the Sponsor or a Permitted Transferee, as applicable, by surrendering the Warrants for that number of shares of Common Stock equal to the quotient obtained by dividing (x) the product of the number of
shares of Common Stock underlying the Warrants, multiplied by the difference between the Warrant Price and the “Fair Market Value”, as defined in this subsection 3.3.1(c), by (y) the Fair Market Value. Solely for purposes of
this subsection 3.3.1(c), the “Fair Market Value” shall mean the average reported last sale price of the Common Stock for the ten (10) trading days ending on the third trading day prior to the date on which notice of exercise
of the Warrant is sent to the Warrant Agent or on which the notice of redemption is sent, as applicable; 
 (d)    on a
cashless basis, as provided in Section 6.2 hereof with respect to a Make-Whole Exercise; or 
 (e)    on a cashless
basis, as provided in Section 7.4 hereof. 

  
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 3.3.2    Issuance of Shares of Common Stock on Exercise. As soon
as practicable after the exercise of any Warrant and the clearance of the funds in payment of the Warrant Price (if payment is pursuant to subsection 3.3.1(a)), the Company shall issue to the Registered Holder of such Warrant a book-entry
position or certificate, as applicable, for the number of full shares of Common Stock to which he, she or it is entitled, registered in such name or names as may be directed by him, her or it, and if such Warrant shall not have been exercised in
full, a new book-entry position or countersigned Warrant, as applicable, for the number of shares of Common Stock as to which such Warrant shall not have been exercised. If fewer than all the Warrants evidenced by a Book-Entry Warrant Certificate
are exercised, a notation shall be made to the records maintained by the Depositary, its nominee for each Book-Entry Warrant Certificate, or a Participant, as appropriate, evidencing the balance of the Warrants remaining after such exercise.
Notwithstanding the foregoing, the Company shall not be obligated to deliver any shares of Common Stock pursuant to the exercise of a Warrant and shall have no obligation to settle such Warrant exercise unless a registration statement under the
Securities Act with respect to the shares of Common Stock underlying the Public Warrants is then effective and a prospectus relating thereto is current, subject to the Company’s satisfying its obligations under
Section 7.4. No Warrant shall be exercisable and the Company shall not be obligated to issue shares of Common Stock upon exercise of a Warrant unless the Common Stock issuable upon such Warrant exercise has been registered,
qualified or deemed to be exempt from registration or qualification under the securities laws of the state of residence of the Registered Holder of the Warrants, except pursuant to Section 7.4. In the event that the
conditions in the two immediately preceding sentences are not satisfied with respect to a Warrant, the holder of such Warrant shall not be entitled to exercise such Warrant and such Warrant may have no value and expire worthless, in which case the
purchaser of a Unit containing such Public Warrants shall have paid the full purchase price for the Unit solely for the shares of Common Stock underlying such Unit. In no event will the Company be required to net cash settle the Warrant exercise.
The Company may require holders of Public Warrants to settle the Warrant on a “cashless basis” pursuant to subsection 3.3.1(b) and Section 7.4. If, by reason of any exercise of Warrants on a “cashless
basis”, the holder of any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share of Common Stock, the Company shall round down to the nearest whole number, the number of shares of Common Stock
to be issued to such holder. 
 3.3.3    Valid Issuance. All shares of Common Stock issued upon the proper
exercise of a Warrant in conformity with this Agreement shall be validly issued, fully paid and non-assessable. 

3.3.4    Date of Issuance. Each person in whose name any book-entry position or certificate, as applicable, for
shares of Common Stock is issued shall for all purposes be deemed to have become the holder of record of such shares of Common Stock on the date on which the Warrant, or book-entry position representing such Warrant, was surrendered and payment of
the Warrant Price was made, irrespective of the date of delivery of such certificate in the case of a certificated Warrant, except that, if the date of such surrender and payment is a date when the share transfer books of the Company or book-entry
system of the Warrant Agent are closed, such person shall be deemed to have become the holder of such shares of Common Stock at the close of business on the next succeeding date on which the share transfer books or book-entry system are open. 

  
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 3.3.5    Maximum Percentage. A holder of a Warrant may notify the
Company in writing in the event it elects to be subject to the provisions contained in this subsection 3.3.5; however, no holder of a Warrant shall be subject to this subsection 3.3.5 unless he, she or it makes such election. If
the election is made by a holder, the Warrant Agent shall not affect the exercise of the holder’s Warrant, and such holder shall not have the right to exercise such Warrant, to the extent that after giving effect to such exercise, such person
(together with such person’s affiliates), to the Warrant Agent’s actual knowledge, would beneficially own in excess of 4.9% or 9.8% (or such other amount as a holder may specify)(the “Maximum Percentage”) of the
shares of Common Stock outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number of shares of Common Stock beneficially owned by such person and its affiliates shall include the number
of shares of Common Stock issuable upon exercise of the Warrant with respect to which the determination of such sentence is being made, but shall exclude shares of Common Stock that would be issuable upon (x) exercise of the remaining,
unexercised portion of the Warrant beneficially owned by such person and its affiliates and (y) exercise or conversion of the unexercised or unconverted portion of any other securities of the Company beneficially owned by such person and its
affiliates (including, without limitation, any convertible notes or convertible preferred stock or warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein. Except as set forth in the preceding
sentence, for purposes of this paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). For purposes of the Warrant, in
determining the number of outstanding shares of Common Stock, the holder may rely on the number of outstanding shares of Common Stock as reflected in (1) the Company’s most recent annual report on Form
10-K, quarterly report on Form 10-Q, current report on Form 8-K or other public filing with the Commission as the case may be,
(2) a more recent public announcement by the Company or (3) any other notice by the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding. For any reason at any time, upon the written request of the
holder of the Warrant, the Company shall, within two (2) Business Days, confirm orally and in writing to such holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be
determined after giving effect to the conversion or exercise of equity securities of the Company by the holder and its affiliates since the date as of which such number of outstanding shares of Common Stock was reported. By written notice to the
Company, the holder of a Warrant may from time to time increase or decrease the Maximum Percentage applicable to such holder to any other percentage specified in such notice; provided, however, that any such increase shall not be
effective until the sixty-first (61st) day after such notice is delivered to the Company. 
 ARTICLE 4 

ADJUSTMENTS 

Section 4.1    Stock Dividends. 

4.1.1    Split-Ups. If after the date hereof, and subject to the provisions
of Section 4.6 below, the number of outstanding shares of Common Stock is increased by a stock dividend payable in shares of Common Stock, or by a split-up of shares of Common Stock
or other similar event, then, on the effective date of such stock dividend, split-up or similar event, the 

  
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number of shares of Common Stock issuable on exercise of each Warrant shall be increased in proportion to such increase in the outstanding shares of Common Stock. A rights offering to holders of
the Common Stock entitling holders to purchase shares of Common Stock at a price less than the “Historical Fair Market Value” (as defined below) shall be deemed a stock dividend of a number of shares of Common Stock equal to the product of
(i) the number of shares of Common Stock actually sold in such rights offering (or issuable under any other equity securities sold in such rights offering that are convertible into or exercisable for the Common Stock) and (ii) one
(1) minus the quotient of (x) the price per share of Common Stock paid in such rights offering divided by (y) the Historical Fair Market Value. For purposes of this subsection 4.1.1, (i) if the rights offering is for
securities convertible into or exercisable for Common Stock, in determining the price payable for Common Stock, there shall be taken into account any consideration received for such rights, as well as any additional amount payable upon exercise or
conversion and (ii) “Historical Fair Market Value” means the volume weighted average price of the Common Stock as reported during the ten (10) trading day period ending on the trading day prior to the first date on which the
shares of Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive such rights. 

4.1.2    Extraordinary Dividends. If the Company, at any time while the Warrants are outstanding and unexpired,
shall pay a dividend or make a distribution in cash, securities or other assets to the holders of the Common Stock on account of such shares of Common Stock (or other shares of the Company’s capital stock into which the Warrants are
convertible), other than (a) as described in subsection 4.1.1 above, (b) Ordinary Cash Dividends (as defined below), (c) to satisfy the redemption rights of the holders of the Common Stock in connection with a proposed initial
Business Combination, (d) as a result of the repurchase of shares of Common Stock by the Company if a proposed Business Combination is presented to the stockholders of the Company for approval, (e) to satisfy the redemption rights of the
holders of Common Stock in connection with a stockholder vote to amend the Company’s amended and restated certificate of incorporation to modify the substance or timing of the Company’s obligation to redeem 100% of the public shares of
Common Stock if the Company does not complete the Business Combination within the period set forth in the Company’s amended and restated certificate of incorporation or (f) in connection with the redemption of public shares of Common Stock
upon the failure of the Company to complete its initial Business Combination and any subsequent distribution of its assets upon its liquidation (any such non-excluded event being referred to herein as an
“Extraordinary Dividend”), then the Warrant Price shall be decreased, effective immediately after the effective date of such Extraordinary Dividend, by the amount of cash and/or the fair market value (as determined by the
Board, in good faith) of any securities or other assets paid on each share of Common Stock in respect of such Extraordinary Dividend. For purposes of this subsection 4.1.2, “Ordinary Cash Dividends” means any cash
dividend or cash distribution which, when combined on a per share basis, with the per share amounts of all other cash dividends and cash distributions paid on the Common Stock during the 365-day period ending
on the date of declaration of such dividend or distribution (as adjusted to appropriately reflect any of the events referred to in other subsections of this Section 4 and excluding cash dividends or cash distributions that
resulted in an adjustment to the Warrant Price or to the number of shares of Common Stock issuable on exercise of each Warrant) does not exceed $0.50 (being 5% of the offering price of the Units in the Offering). 

  
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 Section 4.2    Aggregation of Shares. If after the date
hereof, and subject to the provisions of Section 4.6 hereof, the number of outstanding shares of Common Stock is decreased by a consolidation, combination, reverse stock split or reclassification of shares of Common Stock or other similar
event, then, on the effective date of such consolidation, combination, reverse stock split, reclassification or similar event, the number of shares of Common Stock issuable on exercise of each Warrant shall be decreased in proportion to such
decrease in outstanding shares of Common Stock. 
 Section 4.3    Adjustments in Exercise Price. 

4.3.1    Whenever the number of shares of Common Stock purchasable upon the exercise of the Warrants is adjusted, as
provided in subsection 4.1.1 or Section 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price immediately prior to such adjustment by a fraction (x) the numerator
of which shall be the number of shares of Common Stock purchasable upon the exercise of the Warrants immediately prior to such adjustment, and (y) the denominator of which shall be the number of shares of Common Stock so purchasable immediately
thereafter. 
 4.3.2    If (i) the Company issues additional shares of Common Stock or securities convertible into
or exercisable or exchangeable for shares of Common Stock for capital raising purposes in connection with the closing of its initial Business Combination at an issue price or effective issue price of less than $9.20 per share of Common Stock (as
adjusted to appropriately reflect any of the events referred to in the other subsections of this Section 4), with such issue price or effective issue price to be determined in good faith by the Board (and in the case of any such issuance to the
Sponsor or its affiliates, without taking into account any founder shares held by such holder or affiliates, as applicable, prior to such issuance) (the “New Issuance Price”), (ii) the aggregate gross proceeds from such
issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of the initial Business Combination on the date of the consummation thereof (net of redemptions) and (iii) the volume weighted
average trading price of the Common Stock during the 20 trading day period starting on the trading day prior to the day on which the Company consummates the initial Business Combination (such price, the “Market Value”) is
below $9.20 per share (as adjusted to appropriately reflect any of the events referred to in the other subsections of this Section 4),, then the Warrant Price shall be adjusted (to the nearest cent) to be equal to 115% of the greater of the
Market Value and the New Issuance Price, and the $10.00 and 18.00 per share redemption trigger prices described in Section 6.2 and Section 6.1, respectively, will be adjusted (to the nearest cent) to be equal to 100% and 180%,
respectively, of the greater of the Market Value and the New Issuance Price. 
 Section 4.4    Replacement of
Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding shares of Common Stock (other than a change under subsections 4.1.1 or 4.1.2 or Section 4.2 hereof
or that solely affects the par value of such shares of Common Stock), or in the case of any merger or consolidation of the Company with or into another entity or conversion of the Company as another entity (other than a consolidation or merger in
which the Company is the continuing corporation and that does not result in any reclassification or reorganization of the outstanding shares of Common Stock), or in the case of any sale or conveyance to another entity of the assets or other property
of the Company as an entirety or substantially as an entirety in connection with which the Company is dissolved, the 

  
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holders of the Warrants shall thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the Warrants and in lieu of the shares of Common
Stock of the Company immediately theretofore purchasable and receivable upon the exercise of the rights represented thereby, the kind and amount of shares of stock or other securities or property (including cash) receivable upon such
reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the holder of the Warrants would have received if such holder had exercised his, her or its Warrant(s) immediately prior to
such event (the “Alternative Issuance”); provided, however, that in connection with the closing of any such consolidation, merger, sale or conveyance, the successor or purchasing entity shall execute an
amendment hereto with the Warrant Agent providing for delivery of such Alternative Issuance; provided, further, that (i) if the holders of the Common Stock were entitled to exercise a right of election as to the kind or amount of
securities, cash or other assets receivable upon such consolidation or merger, then the kind and amount of securities, cash or other assets constituting the Alternative Issuance for which each Warrant shall become exercisable shall be deemed to be
the weighted average of the kind and amount received per share by the holders of the Common Stock in such consolidation or merger that affirmatively make such election, and (ii) if a tender, exchange or redemption offer shall have been made to
and accepted by the holders of the Common Stock (other than a tender, exchange or redemption offer made by the Company in connection with redemption rights held by stockholders of the Company as provided for in the Company’s amended and
restated certificate of incorporation or as a result of the repurchase of shares of Common Stock by the Company if a proposed initial Business Combination is presented to the stockholders of the Company for approval) under circumstances in which,
upon completion of such tender or exchange offer, the maker thereof, together with members of any group (within the meaning of Rule 13d-5(b)(1) under the Exchange Act (or any successor rule)) of which such
maker is a part, and together with any affiliate or associate of such maker (within the meaning of Rule 12b-2 under the Exchange Act (or any successor rule)) and any members of any such group of which any such
affiliate or associate is a part, own beneficially (within the meaning of Rule 13d-3 under the Exchange Act (or any successor rule)) more than 50% of the outstanding shares of Common Stock, the holder of a
Warrant shall be entitled to receive as the Alternative Issuance, the highest amount of cash, securities or other property to which such holder would actually have been entitled as a stockholder if such Warrant holder had exercised the Warrant prior
to the expiration of such tender or exchange offer, accepted such offer and all of the Common Stock held by such holder had been purchased pursuant to such tender or exchange offer, subject to adjustments (from and after the consummation of such
tender or exchange offer) as nearly equivalent as possible to the adjustments provided for in this Section 4; provided, further, that if less than 70% of the consideration receivable by the holders of the
Common Stock in the applicable event is payable in the form of common stock in the successor entity that is listed for trading on a national securities exchange or is quoted in an established over-the-counter market, or is to be so listed for trading or quoted immediately following such event, and if the Registered Holder properly exercises the Warrant within thirty (30) days following the
public disclosure of the consummation of such applicable event by the Company pursuant to a Current Report on Form 8-K filed with the Commission, the Warrant Price shall be reduced by an amount (in dollars)
(but in no event less than zero) equal to the difference of (i) the Warrant Price in effect prior to such reduction minus (ii) (A) the Per Share Consideration (as defined below) minus (B) the Black-Scholes Warrant Value (as
defined below). The “Black-Scholes Warrant Value” means the value of a Warrant immediately prior to the consummation of the applicable event based on the Black-Scholes Warrant Model for a Capped

  
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American Call on Bloomberg Financial Markets (“Bloomberg”). For purposes of calculating such amount, (1) Section 6 of this Agreement shall
be taken into account, (2) the price of each share of Common Stock shall be the volume weighted average price of the Common Stock as reported during the ten (10) trading day period ending on the trading day prior to the effective date of
the applicable event, (3) the assumed volatility shall be the 90 day volatility obtained from the HVT function on Bloomberg determined as of the trading day immediately prior to the day of the announcement of the applicable event, and
(4) the assumed risk-free interest rate shall correspond to the U.S. Treasury rate for a period equal to the remaining term of the Warrant. “Per Share Consideration” means (i) if the consideration paid to holders of
the Common Stock consists exclusively of cash, the amount of such cash per share of Common Stock, and (ii) in all other cases, the amount of cash per share of Common Stock, if any, plus the volume weighted average price of the Common Stock as
reported during the ten (10) trading day period ending on the trading day prior to the effective date of the applicable event. If any reclassification or reorganization also results in a change in shares of Common Stock covered by subsection
4.1.1, then such adjustment shall be made pursuant to subsection 4.1.1 or Sections 4.2, 4.3 and this Section 4.4. The provisions of this Section 4.4 shall similarly apply
to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers. In no event will the Warrant Price be reduced to less than the par value per share issuable upon exercise of the Warrant. 

Section 4.5    Notices of Changes in Warrant. Upon every adjustment of the Warrant Price or the number of
shares of Common Stock issuable upon exercise of a Warrant, the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting from such adjustment and the increase or decrease, if any, in the
number of shares of Common Stock purchasable at such price upon the exercise of a Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon the occurrence of any event specified in
Sections 4.1, 4.2, 4.3 or 4.4, the Company shall give written notice of the occurrence of such event to each holder of a Warrant, at the last address set forth for such holder in the Warrant Register, of the record date
or the effective date of the event. Failure to give such notice, or any defect therein, shall not affect the legality or validity of such event. 

Section 4.6    No Fractional Shares. Notwithstanding any provision contained in this Agreement to the
contrary, the Company shall not issue fractional shares of Common Stock upon the exercise of Warrants. If, by reason of any adjustment made pursuant to this Section 4, the holder of any Warrant would be entitled, upon the
exercise of such Warrant, to receive a fractional interest in a share, the Company shall, upon such exercise, round down to the nearest whole number the number of shares of Common Stock to be issued to such holder. 

Section 4.7    Form of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to
this Section 4, and Warrants issued after such adjustment may state the same Warrant Price and the same number of shares of Common Stock as is stated in the Warrants initially issued pursuant to this Agreement;
provided, however, that the Company may at any time in its sole discretion make any change in the form of Warrant that the Company may deem appropriate and that does not affect the substance thereof, and any Warrant thereafter issued
or countersigned, whether in exchange or substitution for an outstanding Warrant or otherwise, may be in the form as so changed. 

  
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 Section 4.8    Other Events. In case any event shall occur
affecting the Company as to which none of the provisions of preceding subsections of this Section 4 are strictly applicable, but which would require an adjustment to the terms of the Warrants in order to (i) avoid an adverse impact on the
Warrants and (ii) effectuate the intent and purpose of this Section 4, then, in each such case, the Company shall appoint a firm of independent public accountants, investment banking or other appraisal firm of
recognized national standing, which shall give its opinion as to whether or not any adjustment to the rights represented by the Warrants is necessary to effectuate the intent and purpose of this Section 4 and, if they
determine that an adjustment is necessary, the terms of such adjustment, provided, however, that under no circumstances shall the Warrants be adjusted pursuant to this Section 4.8 as a result of any issuance of securities
in connection with the Business Combination. The Company shall adjust the terms of the Warrants in a manner that is consistent with any adjustment recommended in such opinion. 

Section 4.9    No Adjustment. For the avoidance of doubt, no adjustment shall be made to the terms of the
Warrants solely as a result of an adjustment to the conversion ratio of the Company’s Class B common stock (the “Class B Common Stock”) into shares of Common Stock or the conversion
of the shares of Class B Common Stock into shares of Common Stock, in each case, pursuant to the Company’s Charter, as amended from time to time. 

ARTICLE 5 
 TRANSFER AND
EXCHANGE OF WARRANTS 
 Section 5.1    Registration of Transfer. The Warrant Agent shall register the
transfer, from time to time, of any outstanding Warrant upon the Warrant Register, upon surrender of such Warrant for transfer, in the case of certificated Warrants, properly endorsed with signatures properly guaranteed and accompanied by
appropriate instructions for transfer. Upon any such transfer, a new Warrant representing an equal aggregate number of Warrants shall be issued and the old Warrant shall be cancelled by the Warrant Agent. In the case of certificated Warrants, the
Warrants so cancelled shall be delivered by the Warrant Agent to the Company from time to time upon request. 

Section 5.2    Procedure for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, together
with a written request for exchange or transfer, and thereupon the Warrant Agent shall issue in exchange therefor one or more new Warrants as requested by the Registered Holder of the Warrants so surrendered, representing an equal aggregate number
of Warrants; provided, however, that except as otherwise provided herein or in any Book-Entry Warrant Certificate or Definitive Warrant Certificate, each Book-Entry Warrant Certificate and Definitive Warrant Certificate may be
transferred only in whole and only to the Depositary, to another nominee of the Depositary, to a successor depository, or to a nominee of a successor depository; provided further, however, that in the event that a Warrant
surrendered for transfer bears a restrictive legend (as in the case of the Private Placement Warrants and the Working Capital Warrants), the Warrant Agent shall not cancel such Warrant and issue new Warrants in exchange thereof until the Warrant
Agent has received an opinion of counsel for the Company stating that such transfer may be made and indicating whether the new Warrants must also bear a restrictive legend. 

  
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 Section 5.3    Fractional Warrants. The Warrant Agent shall
not be required to effect any registration of transfer or exchange which shall result in the issuance of a warrant certificate or book-entry position for a fraction of a warrant, except as part of the Units. 

Section 5.4    Service Charges. No service charge shall be made for any exchange or registration of transfer
of Warrants. 
 Section 5.5    Warrant Execution and Countersignature. The Warrant Agent is hereby
authorized to countersign and to deliver, in accordance with the terms of this Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5, and the Company, whenever required by the Warrant
Agent, shall supply the Warrant Agent with Warrants duly executed on behalf of the Company for such purpose. 

Section 5.6    Transfer of Warrants. Prior to the Detachment Date, the Public Warrants may be transferred or
exchanged only together with the Unit in which such Warrant is included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange of such Unit. Furthermore, each transfer of a Unit on the register relating to such Units
shall operate also to transfer the Warrants included in such Unit. Notwithstanding the foregoing, the provisions of this Section 5.6 shall have no effect on any transfer of Warrants on and after the Detachment Date. 

ARTICLE 6 
 REDEMPTION

 Section 6.1    Redemption. Subject to Section 6.5 hereof, not less than all of the outstanding
Warrants may be redeemed, at the option of the Company, at any time while they are exercisable and prior to their expiration, at the office of the Warrant Agent, upon notice to the Registered Holders of the Warrants, as described in
Section 6.3 below, at a Redemption Price of $0.01 per Warrant, provided that the Reference Value (as defined in Section 6.3 below) equals or exceeds $18.00 per share provided that there is an effective registration
statement covering the shares of Common Stock issuable upon exercise of the Warrants, and a current prospectus relating thereto, available throughout the 30-day Redemption Period (as defined in
Section 6.3 below) or the Company has elected to require the exercise of the Warrants on a “cashless basis” pursuant to subsection 3.3.1; provided, however, that if and when the Warrants
become redeemable by the Company, the Company may not exercise such redemption right if the issuance of shares of Common Stock upon exercise of the Warrants is not exempt from registration or qualification under applicable state blue sky laws or the
Company is unable to effect such registration or qualification. 
 Section 6.2    Redemption of Warrants for
Shares of Common Stock. Subject to Section 6.5 hereof, not less than all of the outstanding Warrants may be redeemed, at the option of the Company, at any time during the Exercise Period, at the office of the Warrant
Agent, upon notice to the Registered Holders of the Warrants, as described in Section 6.3 below, at a Redemption Price of $0.10 per Warrant, provided that the Reference Value equals or exceeds $10.00 per share (subject to
adjustment in compliance with Section 4 hereof). During the 30-day Redemption Period in connection with a redemption pursuant to this Section 6.2, Registered Holders of the Warrants

  
 -14- 

 
may elect to exercise their Warrants on a “cashless basis” pursuant to subsection 3.3.1 and receive a number of shares of Common Stock determined by reference to the table below, based
on the Redemption Date (calculated for purposes of the table as the period to expiration of the Warrants) and the “Fair Market Value” (a “Make-Whole Exercise”). 

 

																																					
	 Redemption Date 
(period to expiration of
warrants)
	  	Redemption Fair Market Value of Class A Common Stock
	 
	  	£$10.00	 	  	$11.00	 	  	$12.00	 	  	$13.00	 	  	$14.00	 	  	$15.00	 	  	$16.00	 	  	$17.00	 	  	3$18.00	 
	 60 months
	  	 	0.261	 	  	 	0.281	 	  	 	0.297	 	  	 	0.311	 	  	 	0.324	 	  	 	0.337	 	  	 	0.348	 	  	 	0.358	 	  	 	0.361	 
	 57 months
	  	 	0.257	 	  	 	0.277	 	  	 	0.294	 	  	 	0.310	 	  	 	0.324	 	  	 	0.337	 	  	 	0.348	 	  	 	0.358	 	  	 	0.361	 
	 54 months
	  	 	0.252	 	  	 	0.272	 	  	 	0.291	 	  	 	0.307	 	  	 	0.322	 	  	 	0.335	 	  	 	0.347	 	  	 	0.357	 	  	 	0.361	 
	 51 months
	  	 	0.246	 	  	 	0.268	 	  	 	0.287	 	  	 	0.304	 	  	 	0.320	 	  	 	0.333	 	  	 	0.346	 	  	 	0.357	 	  	 	0.361	 
	 48 months
	  	 	0.241	 	  	 	0.263	 	  	 	0.283	 	  	 	0.301	 	  	 	0.317	 	  	 	0.332	 	  	 	0.344	 	  	 	0.356	 	  	 	0.361	 
	 45 months
	  	 	0.235	 	  	 	0.258	 	  	 	0.279	 	  	 	0.298	 	  	 	0.315	 	  	 	0.330	 	  	 	0.343	 	  	 	0.356	 	  	 	0.361	 
	 42 months
	  	 	0.228	 	  	 	0.252	 	  	 	0.274	 	  	 	0.294	 	  	 	0.312	 	  	 	0.328	 	  	 	0.342	 	  	 	0.355	 	  	 	0.361	 
	 39 months
	  	 	0.221	 	  	 	0.246	 	  	 	0.269	 	  	 	0.290	 	  	 	0.309	 	  	 	0.325	 	  	 	0.340	 	  	 	0.354	 	  	 	0.361	 
	 36 months
	  	 	0.213	 	  	 	0.239	 	  	 	0.263	 	  	 	0.285	 	  	 	0.305	 	  	 	0.323	 	  	 	0.339	 	  	 	0.353	 	  	 	0.361	 
	 33 months
	  	 	0.205	 	  	 	0.232	 	  	 	0.257	 	  	 	0.280	 	  	 	0.301	 	  	 	0.320	 	  	 	0.337	 	  	 	0.352	 	  	 	0.361	 
	 30 months
	  	 	0.196	 	  	 	0.224	 	  	 	0.250	 	  	 	0.274	 	  	 	0.297	 	  	 	0.316	 	  	 	0.335	 	  	 	0.351	 	  	 	0.361	 
	 27 months
	  	 	0.185	 	  	 	0.214	 	  	 	0.242	 	  	 	0.268	 	  	 	0.291	 	  	 	0.313	 	  	 	0.332	 	  	 	0.350	 	  	 	0.361	 
	 24 months
	  	 	0.173	 	  	 	0.204	 	  	 	0.233	 	  	 	0.260	 	  	 	0.285	 	  	 	0.308	 	  	 	0.329	 	  	 	0.348	 	  	 	0.361	 
	 21 months
	  	 	0.161	 	  	 	0.193	 	  	 	0.223	 	  	 	0.252	 	  	 	0.279	 	  	 	0.304	 	  	 	0.326	 	  	 	0.347	 	  	 	0.361	 
	 18 months
	  	 	0.146	 	  	 	0.179	 	  	 	0.211	 	  	 	0.242	 	  	 	0.271	 	  	 	0.298	 	  	 	0.322	 	  	 	0.345	 	  	 	0.361	 
	 15 months
	  	 	0.130	 	  	 	0.164	 	  	 	0.197	 	  	 	0.230	 	  	 	0.262	 	  	 	0.291	 	  	 	0.317	 	  	 	0.342	 	  	 	0.361	 
	 12 months
	  	 	0.111	 	  	 	0.146	 	  	 	0.181	 	  	 	0.216	 	  	 	0.250	 	  	 	0.282	 	  	 	0.312	 	  	 	0.339	 	  	 	0.361	 
	 9 months
	  	 	0.090	 	  	 	0.125	 	  	 	0.162	 	  	 	0.199	 	  	 	0.237	 	  	 	0.272	 	  	 	0.305	 	  	 	0.336	 	  	 	0.361	 
	 6 months
	  	 	0.065	 	  	 	0.099	 	  	 	0.137	 	  	 	0.178	 	  	 	0.219	 	  	 	0.259	 	  	 	0.296	 	  	 	0.331	 	  	 	0.361	 
	 3 months
	  	 	0.034	 	  	 	0.065	 	  	 	0.104	 	  	 	0.150	 	  	 	0.197	 	  	 	0.243	 	  	 	0.286	 	  	 	0.326	 	  	 	0.361	 
	 0 months
	  	 	—  	 	  	 	—  	 	  	 	0.042	 	  	 	0.115	 	  	 	0.179	 	  	 	0.233	 	  	 	0.281	 	  	 	0.323	 	  	 	0.361	 

 The exact Fair Market Value and Redemption Date may not be set forth in the table above, in which case, if the
Fair Market Value is between two values in the table or the Redemption Date is between two redemption dates in the table, the number of shares of Common Stock to be issued for each Warrant exercised in a Make-Whole Exercise shall be determined by a
straight-line interpolation between the number of shares set forth for the higher and lower Fair Market Values and the earlier and later redemption dates, as applicable, based on a 365- or 366-day year, as applicable. 
 The share prices set forth in the column headings of the table above shall
be adjusted as of any date on which the number of shares issuable upon exercise of a Warrant or the Warrant Price is adjusted pursuant to Section 4 hereof. If the number of shares issuable upon exercise of a Warrant is
adjusted pursuant to Section 4 hereof, the adjusted share prices in the column headings shall equal the share prices immediately prior to such adjustment, multiplied by a fraction, the numerator of which is the number of
shares deliverable upon exercise of a Warrant immediately prior to such adjustment and the denominator of which is the number of shares deliverable upon exercise of a Warrant as so adjusted. The number of shares in the table above shall be adjusted
in the same manner and at the same time as the number of shares issuable upon exercise of a Warrant. If the Warrant Price of a Warrant is adjusted, (a) in the case of an adjustment pursuant to Section 4.4 hereof, the
adjusted share prices in the column headings shall equal the share prices immediately prior to such adjustment multiplied by a fraction, the numerator of which is the higher of the Market Value and the Newly Issued Price and the denominator of which
is 

  
 -15- 

 
$10.00 and (b) in the case of an adjustment pursuant to Section 4.1.2 hereof, the adjusted share prices in the column headings shall equal the share prices
immediately prior to such adjustment less the decrease in the Warrant Price pursuant to such Warrant Price adjustment. In no event shall the number of shares issued in connection with a Make-Whole Exercise exceed 0.361 shares of Common Stock per
Warrant (subject to adjustment). 
 Section 6.3    Date Fixed for, and Notice of, Redemption. In the event
that the Company elects to redeem all of the Warrants, the Company shall fix a date for the redemption (the “Redemption Date”). Notice of redemption shall be mailed by first class mail, postage prepaid, by the Company not
less than thirty (30) days prior to the Redemption Date (the “30-day Redemption Period”) to the Registered Holders of the Warrants to be redeemed at their last addresses as they
shall appear on the registration books. Any notice mailed in the manner herein provided shall be conclusively presumed to have been duly given whether or not the Registered Holder received such notice. As used in this Agreement, (a)
“Redemption Price” shall mean the price per Warrant at which any Warrants are redeemed pursuant to Sections 6.1 or 6.2, as applicable, and (b) “Reference Value” shall mean the last reported sales price
of the Common Stock for any twenty (20) trading days within the thirty (30) trading day period ending on the third trading day prior to the date on which notice of the redemption is given. 

Section 6.4    Exercise After Notice of Redemption. The Warrants may be exercised, for cash (or on a
“cashless basis” in accordance with subsection 3.3.1(b) or Section 6.2 of this Agreement) at any time after notice of redemption shall have been given by the Company pursuant to Section 6.3 hereof and
prior to the Redemption Date. In the event that the Company determines to require all holders of Warrants to exercise their Warrants on a “cashless basis” pursuant to subsection 3.3.1, the notice of redemption shall contain the
information necessary to calculate the number of shares of Common Stock to be received upon exercise of the Warrants, including the “Fair Market Value” in such case. On and after the Redemption Date, the record holder of the Warrants shall
have no further rights except to receive, upon surrender of the Warrants, the Redemption Price. 

Section 6.5    Exclusion of Private Placement Warrants and Working Capital Warrants. The Company agrees that
the redemption rights provided in this Section 6 shall not apply to the Private Placement Warrants or the Working Capital Warrants if at the time of the redemption such Private Placement Warrants or Working Capital Warrants
continue to be held by the original purchasers or any Permitted Transferees, as applicable. However, once such Private Placement Warrants or Working Capital Warrants are transferred (other than to Permitted Transferees under
Section 2.6), the Company may redeem the Private Placement Warrants and the Working Capital Warrants, provided that the criteria for redemption are met, including the opportunity of the holder of such Private Placement
Warrants or the Working Capital Warrants to exercise the Private Placement Warrant and the Working Capital Warrants prior to redemption pursuant to Section 6.4. Private Placement Warrants and Working Capital Warrants that
are transferred to persons other than Permitted Transferees shall upon such transfer cease to be Private Placement Warrants or Working Capital Warrants and shall become Public Warrants under this Agreement. 

  
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 ARTICLE 7 

OTHER PROVISIONS RELATING TO RIGHTS OF HOLDERS OF WARRANTS 

Section 7.1    No Rights as Stockholder. A Warrant does not entitle the Registered Holder thereof to any of
the rights of a stockholder of the Company, including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive rights to vote or to consent or to receive notice as stockholders in respect of the meetings
of stockholders or the election of directors of the Company or any other matter. 
 Section 7.2    Lost, Stolen,
Mutilated, or Destroyed Warrants. If any Warrant is lost, stolen, mutilated, or destroyed, the Company and the Warrant Agent may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a
mutilated Warrant, include the surrender thereof), issue a new Warrant of like denomination, tenor, and date as the Warrant so lost, stolen, mutilated, or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the
Company, whether or not the allegedly lost, stolen, mutilated, or destroyed Warrant shall be at any time enforceable by anyone. 

Section 7.3    Reservation of Common Stock. The Company shall at all times reserve and keep available a number
of its authorized but unissued shares of Common Stock that shall be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement. 

Section 7.4    Registration of Common Stock; Cashless Exercise at Company’s Option. 

7.4.1    Registration of the Common Stock. The Company agrees that as soon as practicable, but in no event later
than fifteen (15) Business Days after the closing of its initial Business Combination, it shall use its best efforts to file with the Commission a registration statement for the registration, under the Securities Act, of the shares of Common
Stock issuable upon exercise of the Warrants. The Company shall use its best efforts to cause the same to become effective and to maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until the
expiration of the Warrants in accordance with the provisions of this Agreement. If any such registration statement has not been declared effective by the 60th Business Day following the closing of the Business Combination, holders of the Warrants
shall have the right, during the period beginning on the 61st Business Day after the closing of the Business Combination and ending upon such registration statement being declared effective by the Commission, and during any other period when the
Company shall fail to have maintained an effective registration statement covering the shares of Common Stock issuable upon exercise of the Warrants, to exercise such Warrants on a “cashless basis,” by exchanging the Warrants (in
accordance with Section 3(a)(9) of the Securities Act (or any successor rule) or another exemption) for that number of shares of Common Stock equal to the quotient obtained by dividing (x) the product of the number of shares of Common
Stock underlying the Warrants, multiplied by the difference between the Warrant Price and the “Fair Market Value” (as defined below) by (y) the Fair Market Value. Solely for purposes of this subsection 7.4.1, “Fair Market
Value” shall mean the volume weighted average price of the Common Stock as reported during the ten (10) trading day period ending on the trading day prior to the date that notice of exercise is received by the

  
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Warrant Agent from the holder of such Warrants or its securities broker or intermediary. The date that notice of cashless exercise is received by the Warrant Agent shall be conclusively
determined by the Warrant Agent. In connection with the “cashless exercise” of a Public Warrant, the Company shall, upon request, provide the Warrant Agent with an opinion of counsel for the Company (which shall be an outside law firm with
securities law experience) stating that (i) the exercise of the Warrants on a cashless basis in accordance with this subsection 7.4.1 is not required to be registered under the Securities Act and (ii) the shares of Common Stock
issued upon such exercise shall be freely tradable under United States federal securities laws by anyone who is not an affiliate (as such term is defined in Rule 144 under the Securities Act (or any successor statute)) of the Company and,
accordingly, shall not be required to bear a restrictive legend. Except as provided in subsection 7.4.2, for the avoidance of any doubt, unless and until all of the Warrants have been exercised or have expired, the Company shall continue to
be obligated to comply with its registration obligations under the first three sentences of this subsection 7.4.1. 

7.4.2    Cashless Exercise at Company’s Option. If the Common Stock is at the time of any exercise of a
Warrant not listed on a national securities exchange such that it satisfies the definition of a “covered security” under Section 18(b)(1) of the Securities Act (or any successor statute), the Company may, at its option,
(i) require holders of Public Warrants who exercise Public Warrants to exercise such Public Warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act (or any successor statute) as described in
subsection 7.4.1 and (ii) in the event the Company so elects, the Company shall not be required to file or maintain in effect a registration statement for the registration, under the Securities Act, of the Common Stock issuable upon
exercise of the Warrants, notwithstanding anything in this Agreement to the contrary. If the Company does not elect at the time of exercise to require a holder of Public Warrants who exercises Public Warrants to exercise such Public Warrants on a
“cashless basis,” it agrees to use its best efforts to register or qualify for sale the Common Stock issuable upon exercise of the Public Warrant under the blue sky laws of the state of residence of the exercising Public Warrant holder to
the extent an exemption is not available. 
 ARTICLE 8 

CONCERNING THE WARRANT AGENT AND OTHER MATTERS 

Section 8.1    Payment of Taxes. The Company shall from time to time promptly pay all taxes and charges that
may be imposed upon the Company or the Warrant Agent in respect of the issuance or delivery of shares of Common Stock upon the exercise of the Warrants, but the Company shall not be obligated to pay any transfer taxes in respect of the Warrants or
such shares of Common Stock. 
 Section 8.2    Resignation, Consolidation, or Merger of Warrant Agent. 

8.2.1    Appointment of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may
resign its duties and be discharged from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the office of the Warrant Agent becomes vacant by resignation or incapacity to act or
otherwise, the Company shall appoint in writing a successor Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment within a period of thirty (30) days after it has been

  
 -18- 

 
notified in writing of such resignation or incapacity by the Warrant Agent or by the holder of a Warrant (who shall, with such notice, submit his Warrant for inspection by the Company), then the
holder of any Warrant may apply to the Supreme Court of the State of New York for the County of New York for the appointment of a successor Warrant Agent at the Company’s cost. Any successor Warrant Agent, whether appointed by the Company or by
such court, shall be a corporation organized and existing under the laws of the State of New York, in good standing and having its principal office in the Borough of Manhattan, City and State of New York, and authorized under such laws to exercise
corporate trust powers and subject to supervision or examination by federal or state authority. After appointment, any successor Warrant Agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations of its
predecessor Warrant Agent with like effect as if originally named as Warrant Agent hereunder, without any further act or deed; but if for any reason it becomes necessary or appropriate, the predecessor Warrant Agent shall execute and deliver, at the
expense of the Company, an instrument transferring to such successor Warrant Agent all the authority, powers, and rights of such predecessor Warrant Agent hereunder; and upon request of any successor Warrant Agent the Company shall make, execute,
acknowledge, and deliver any and all instruments in writing for more fully and effectually vesting in and confirming to such successor Warrant Agent all such authority, powers, rights, immunities, duties, and obligations. 

8.2.2    Notice of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company
shall give notice thereof to the predecessor Warrant Agent and the Transfer Agent for the Common Stock not later than the effective date of any such appointment. 

8.2.3    Merger or Consolidation of Warrant Agent. Any corporation into which the Warrant Agent may be merged or
with which it may be consolidated or any corporation resulting from any merger or consolidation to which the Warrant Agent shall be a party shall be the successor Warrant Agent under this Agreement without any further act. 

Section 8.3    Fees and Expenses of Warrant Agent. 

8.3.1    Remuneration. The Company agrees to pay the Warrant Agent reasonable remuneration for its services as such
Warrant Agent hereunder and shall, pursuant to its obligations under this Agreement, reimburse the Warrant Agent upon demand for all expenditures that the Warrant Agent may reasonably incur in the execution of its duties hereunder. 

8.3.2    Further Assurances. The Company agrees to perform, execute, acknowledge, and deliver or cause to be
performed, executed, acknowledged, and delivered all such further and other acts, instruments, and assurances as may reasonably be required by the Warrant Agent for the carrying out or performing of the provisions of this Agreement. 

Section 8.4    Liability of Warrant Agent. 

8.4.1    Reliance on Company Statement. Whenever in the performance of its duties under this Agreement, the Warrant
Agent shall deem it necessary or desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter (unless other evidence in respect thereof be herein specifically
prescribed) may be deemed to be conclusively proved and established by a statement signed by 

  
 -19- 

 
any Co-Chief Executive Officer, the Chief Financial Officer, President, Executive Vice President, Vice President, Secretary or Chairman of the Board of the
Company and delivered to the Warrant Agent. The Warrant Agent may rely upon such statement for any action taken or suffered in good faith by it pursuant to the provisions of this Agreement. 

8.4.2    Indemnity. The Warrant Agent shall be liable hereunder only for its own gross negligence, willful
misconduct or bad faith. The Company agrees to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, costs and reasonable counsel fees, for anything done or omitted by the Warrant Agent in the
execution of this Agreement, except as a result of the Warrant Agent’s gross negligence, willful misconduct or bad faith. 

8.4.3    Exclusions. The Warrant Agent shall have no responsibility with respect to the validity of this Agreement
or with respect to the validity or execution of any Warrant (except its countersignature thereof). The Warrant Agent shall not be responsible for any breach by the Company of any covenant or condition contained in this Agreement or in any Warrant.
The Warrant Agent shall not be responsible to make any adjustments required under the provisions of Section 4 hereof or responsible for the manner, method, or amount of any such adjustment or the ascertaining of the
existence of facts that would require any such adjustment; nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization or reservation of any shares of Common Stock to be issued pursuant to this
Agreement or any Warrant or as to whether any shares of Common Stock shall, when issued, be valid and fully paid and non-assessable. 

Section 8.5    Acceptance of Agency. The Warrant Agent hereby accepts the agency established by this Agreement
and agrees to perform the same upon the terms and conditions herein set forth and among other things, shall account promptly to the Company with respect to Warrants exercised and concurrently account for, and pay to the Company, all monies received
by the Warrant Agent for the purchase of shares of Common Stock through the exercise of the Warrants. 

Section 8.6    Waiver. The Warrant Agent has no right of set-off or
any other right, title, interest or claim of any kind (“Claim”) in, or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of the date hereof, by and between
the Company and the Warrant Agent as trustee thereunder) and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever. The Warrant Agent hereby waives any and all
Claims against the Trust Account and any and all rights to seek access to the Trust Account. 
 ARTICLE 9 

MISCELLANEOUS PROVISIONS 

Section 9.1    Successors. All the covenants and provisions of this Agreement by or for the benefit of the
Company or the Warrant Agent shall bind and inure to the benefit of their respective successors and assigns. 

  
 -20- 

 Section 9.2    Notices. Any notice, statement or demand
authorized by this Agreement to be given or made by the Warrant Agent or by the holder of any Warrant to or on the Company shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier
service within five (5) days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Company with the Warrant Agent), as follows: 

Roman DBDR Tech Acquisition Corp. II 

2877 Paradise Road, Unit 702 
 Las
Vegas, NV 89109 
 Attention: Dr. Donald G. Basile and Dixon Doll, Jr. 

Any notice, statement or demand authorized by this Agreement to be given or made by the holder of any Warrant or by the Company to or on the
Warrant Agent shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five (5) days after deposit of such notice, postage prepaid, addressed (until another
address is filed in writing by the Warrant Agent with the Company), as follows: 
 Continental Stock Transfer & Trust Company 

1 State Street, 30th Floor 
 New
York, NY 10004 
 Attention: Compliance Department 

Section 9.3    Applicable Law. The validity, interpretation, and performance of this Agreement and of the
Warrants shall be governed in all respects by 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 Company hereby agrees
that any action, proceeding or claim against it arising out of or relating in any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United States District Court for the Southern District of New York,
and irrevocably submits to such jurisdiction, which jurisdiction shall be the exclusive forum for such action, proceeding or claim. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient
forum. Notwithstanding the foregoing, the provisions of this paragraph will not apply to suits brought to enforce any liability or duty created by the Exchange Act or any other claim for which the federal district courts of the United States of
America are the sole and exclusive forum. Any person or entity purchasing or otherwise acquiring any interest in the Warrants shall be deemed to have notice of and to have consented to the forum provisions in this Section 9.3. If any action,
the subject matter of which is within the scope the forum provisions above, is filed in a court other than a court located within the State of New York or the United States District Court for the Southern District of New York (a “foreign
action”) in the name of any warrant holder, such warrant holder shall be deemed to have consented to: (x) the personal jurisdiction of the state and federal courts located within the State of New York or the United States District Court
for the Southern District of New York in connection with any action brought in any such court to enforce the forum provisions (an “enforcement action”), and (y) having service of process made upon such warrant holder in any such
enforcement action by service upon such warrant holder’s counsel in the foreign action as agent for such warrant holder. 

  
 -21- 

 Section 9.4    Persons Having Rights under this Agreement.
Nothing in this Agreement shall be construed to confer upon, or give to, any person or corporation other than the parties hereto and the Registered Holders of the Warrants and, for purposes of Sections 7.4, 9.4 and 9.8, the
Representatives, any right, remedy, or claim under or by reason of this Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. All covenants, conditions, stipulations, promises, and agreements contained in this Agreement
shall be for the sole and exclusive benefit of the parties hereto and, for purposes of Sections 7.4, 9.4 and 9.8, the Representatives, and their successors and assigns and of the Registered Holders of the Warrants. 

Section 9.5    Examination of the Warrant Agreement. A copy of this Agreement shall be available at all
reasonable times at the office of the Warrant Agent in the Borough of Manhattan, City and State of New York, for inspection by the Registered Holder of any Warrant. The Warrant Agent may require any such holder to submit such holder’s Warrant
for inspection by the Warrant Agent. 
 Section 9.6    Counterparts. This 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. 

Section 9.7    Effect of Headings. The section headings herein are for convenience only and are not part of
this Agreement and shall not affect the interpretation thereof. 
 Section 9.8    Amendments. This Agreement
may be amended by the parties hereto without the consent of any Registered Holder (i) for the purpose of curing any ambiguity, or correcting any mistake, including to conform the provisions of this Agreement to the description of the terms of
the Warrants and this Agreement in the Registration Statement or curing, correcting or supplementing any defective provision contained herein or adding or changing any other provisions with respect to matters or questions arising under this
Agreement as the parties may deem necessary or desirable and that the parties deem shall not adversely affect the interest of the Registered Holders, and (ii) to provide for the delivery of Alternative Issuance pursuant to
Section 4.4. All other modifications or amendments, including any amendment to increase the Warrant Price or shorten the Exercise Period, shall require the vote or written consent of the Registered Holders of a majority of
the then outstanding Public Warrants. Any amendment solely to the Private Placement Warrants or the Working Capital Warrants shall require the vote or written consent of a majority of the holders of the then outstanding Private Placement Warrants or
the Working Capital Warrants, as applicable. Notwithstanding the foregoing, the Company may lower the Warrant Price or extend the duration of the Exercise Period pursuant to Sections 3.1 and 3.2, respectively, without the consent of
the Registered Holders. 
 Section 9.9    Severability. This 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 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 Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable. 

[Signature Page Follows] 

  
 -22- 

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

					
	 ROMAN DBDR TECH ACQUISITION CORP. II

		
	By:	 	  

		 	Name:	 	Dr. Donald G. Basile
		 	Title:	 	Chairman and Co-Chief Executive Officer
	
	 CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent

		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

 EXHIBIT A 

[Form of Warrant Certificate] 

[FACE] 
 Number 

Warrants 
 THIS WARRANT
SHALL BE VOID IF NOT EXERCISED PRIOR TO 
 THE EXPIRATION OF THE EXERCISE PERIOD PROVIDED FOR 

IN THE WARRANT AGREEMENT DESCRIBED BELOW 

ROMAN DBDR TECH ACQUISITION CORP. II 

Incorporated Under the Laws of the State of Delaware 

CUSIP 77585C 112 
 Warrant
Certificate 
 This Warrant Certificate certifies that
                    , or registered assigns, is the registered holder of warrant(s) evidenced hereby (the “Warrants” and
each, a “Warrant”) to purchase shares of Class A common stock, $0.0001 par value per share (“Common Stock”), of Roman DBDR Tech Acquisition Corp. II, a Delaware corporation (the
“Company”). Each Warrant entitles the holder, upon exercise during the period set forth in the Warrant Agreement referred to below, to receive from the Company that number of fully paid and
non-assessable shares of Common Stock as set forth below, at the exercise price (the “Exercise Price”) as determined pursuant to the Warrant Agreement, payable in lawful money (or
through “cashless exercise” as provided for in the Warrant Agreement) of the United States of America upon surrender of this Warrant Certificate and payment of the Exercise Price at the office or agency of the Warrant Agent
referred to below, subject to the conditions set forth herein and in the Warrant Agreement. Defined terms used in this Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant Agreement. 

Each whole Warrant is initially exercisable for one fully paid and non-assessable share of Common
Stock. No fractional shares will be issued upon exercise of any Warrant. If, upon the exercise of Warrants, a holder would be entitled to receive a fractional interest in a share of Common Stock, the Company will, upon exercise, round down to the
nearest whole number the number of shares of Common Stock to be issued to the Warrant holder. The number of shares of Common Stock issuable upon exercise of the Warrants is subject to adjustment upon the occurrence of certain events set forth in the
Warrant Agreement. 

  
 A-1 

 The initial Exercise Price per share of Common Stock for any Warrant is equal to $11.50 per
whole share. The Exercise Price is subject to adjustment upon the occurrence of certain events set forth in the Warrant Agreement. 

Subject to the conditions set forth in the Warrant Agreement, the Warrants may be exercised only during the Exercise Period and to the extent
not exercised by the end of such Exercise Period, such Warrants shall become void. 
 Reference is hereby made to the further provisions of
this Warrant Certificate set forth on the reverse hereof and such further provisions shall for all purposes have the same effect as though fully set forth at this place. 

This Warrant Certificate shall not be valid unless countersigned by the Warrant Agent, as such term is used in the Warrant Agreement. 

This Warrant Certificate shall be governed by and construed in accordance with the internal laws of the State of New York, without regard to
conflicts of laws principles thereof. 
  

			
	 ROMAN DBDR TECH ACQUISITION CORP. II

		
	By:	 	  

		 	Name:
		 	Title:
	
	 CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent

		
	By:	 	  

		 	Name:
		 	Title:

  
 A-2 

 [Form of Warrant Certificate] 

[Reverse] 
 The Warrants
evidenced by this Warrant Certificate are part of a duly authorized issue of Warrants entitling the holder on exercise to receive shares of Common Stock and are issued or to be issued pursuant to a Warrant Agreement dated as of
            , 2021 (the “Warrant Agreement”), duly executed and delivered by the Company to Continental Stock Transfer & Trust Company, a New York
corporation, as warrant agent (the “Warrant Agent”), which Warrant Agreement is hereby incorporated by reference in and made a part of this instrument and is hereby referred to for a description of the rights, limitation of
rights, obligations, duties and immunities thereunder of the Warrant Agent, the Company and the holders (the words “holders” or “holder” meaning the Registered Holders or Registered Holder,
respectively) of the Warrants. A copy of the Warrant Agreement may be obtained by the holder hereof upon written request to the Company. Defined terms used in this Warrant Certificate but not defined herein shall have the meanings given to them in
the Warrant Agreement. 
 Warrants may be exercised at any time during the Exercise Period set forth in the Warrant Agreement. The holder of
Warrants evidenced by this Warrant Certificate may exercise them by surrendering this Warrant Certificate, with the form of election to purchase set forth hereon properly completed and executed, together with payment of the Exercise Price as
specified in the Warrant Agreement (or through “cashless exercise” as provided for in the Warrant Agreement) at the principal corporate trust office of the Warrant Agent. In the event that upon any exercise of Warrants evidenced hereby the
number of Warrants exercised shall be less than the total number of Warrants evidenced hereby, there shall be issued to the holder hereof or his, her or its assignee, a new Warrant Certificate evidencing the number of Warrants not exercised. 

Notwithstanding anything else in this Warrant Certificate or the Warrant Agreement, no Warrant may be exercised unless at the time of exercise
(i) a registration statement covering the shares of Common Stock to be issued upon exercise is effective under the Securities Act and (ii) a prospectus thereunder relating to the shares of Common Stock is current, except through
“cashless exercise” as provided for in the Warrant Agreement. 
 The Warrant Agreement provides that upon the occurrence of
certain events the number of shares of Common Stock issuable upon exercise of the Warrants set forth on the face hereof may, subject to certain conditions, be adjusted. If, upon exercise of a Warrant, the holder thereof would be entitled to receive
a fractional interest in a share of Common Stock, the Company shall, upon exercise, round down to the nearest whole number of shares of Common Stock to be issued to the holder of the Warrant. 

Warrant Certificates, when surrendered at the principal corporate trust office of the Warrant Agent by the Registered Holder thereof in person
or by legal representative or attorney duly authorized in writing, may be exchanged, in the manner and subject to the limitations provided in the Warrant Agreement, but without payment of any service charge, for another Warrant Certificate or
Warrant Certificates of like tenor evidencing in the aggregate a like number of Warrants. 

  
 A-3 

 Upon due presentation for registration of transfer of this Warrant Certificate at the office
of the Warrant Agent a new Warrant Certificate or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s) in exchange for this Warrant Certificate, subject to the limitations
provided in the Warrant Agreement, without charge except for any tax or other governmental charge imposed in connection therewith. 
 The
Company and the Warrant Agent may deem and treat the Registered Holder(s) hereof as the absolute owner(s) of this Warrant Certificate (notwithstanding any notation of ownership or other writing hereon made by anyone), for the purpose of any exercise
hereof, of any distribution to the holder(s) hereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary. Neither the Warrants nor this Warrant Certificate entitles any holder
hereof to any rights of a stockholder of the Company. 

  
 A-4 

 Election to Purchase 

(To Be Executed Upon Exercise of Warrant) 

The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, to receive
             shares of Common Stock and herewith tenders payment for such shares of Common Stock to the order of Roman DBDR Tech Acquisition Corp. II (the
“Company”) in the amount of $             in accordance with the terms hereof. The undersigned requests that a certificate for such shares of Common Stock
be registered in the name of                                 , whose address is
                                 and that such shares of Common Stock be delivered to
                                 whose address is
                                . If said number of shares of Common Stock is less than
all of the shares of Common Stock purchasable hereunder, the undersigned requests that a new Warrant Certificate representing the remaining balance of such shares of Common Stock be registered in the name of
                                , whose address is
                                 and that such Warrant Certificate be delivered to
                                , whose address is
                                . 

In the event that the Warrant has been called for redemption by the Company pursuant to Section 6 of the Warrant
Agreement and the Company has required cashless exercise pursuant to Section 6.3 of the Warrant Agreement, the number of shares of Common Stock that this Warrant is exercisable for shall be determined in accordance with
subsection 3.3.1(b) and Section 6.3 of the Warrant Agreement. 
 In the event that the Warrant is a Private
Placement Warrant or a Working Capital Warrant that is to be exercised on a “cashless” basis pursuant to subsection 3.3.1(c) of the Warrant Agreement, the number of shares of Common Stock that this Warrant is exercisable for shall
be determined in accordance with subsection 3.3.1(c) of the Warrant Agreement. 
 In the event that the Warrant is to be exercised on
a “cashless” basis pursuant to Section 7.4 of the Warrant Agreement, the number of shares of Common Stock that this Warrant is exercisable for shall be determined in accordance with
Section 7.4 of the Warrant Agreement. 
 In the event that the Warrant may be exercised, to the extent allowed by
the Warrant Agreement, through cashless exercise (i) the number of shares of Common Stock that this Warrant is exercisable for would be determined in accordance with the relevant section of the Warrant Agreement which allows for such cashless
exercise and (ii) the holder hereof shall complete the following: The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, through the cashless exercise provisions of the Warrant Agreement, to
receive shares of Common Stock. If said number of shares of Common Stock is less than all of the shares of Common Stock purchasable hereunder (after giving effect to the cashless exercise), the undersigned requests that a new Warrant Certificate
representing the remaining balance of such shares of Common Stock be registered in the name of
                                , whose address is
                                 and that such Warrant Certificate be delivered to
                                , whose address is
                                . 

[Signature Page Follows] 

  
 A-5 

Date:                    , 20 

 

	
	  

	(Signature)
	
	  

	
	  

	
	  

	(Address)
	
	  

	(Tax Identification Number)

  

	
	Signature Guaranteed:
	
	  

 THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS
AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15 (OR ANY SUCCESSOR RULE)). 

  
 A-6 

 EXHIBIT B 

LEGEND 
 “THE SECURITIES REPRESENTED
BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, AND ANY APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, SUBJECT TO ANY ADDITIONAL LIMITATIONS ON TRANSFER DESCRIBED IN THE LETTER AGREEMENT BY AND AMONG ROMAN DBDR TECH ACQUISITION CORP. II (THE
“COMPANY”), ROMAN DBDR TECH SPONSOR II LLC AND THE OTHER PARTIES THERETO, THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD OR TRANSFERRED PRIOR TO THE DATE THAT IS THIRTY (30) DAYS AFTER THE DATE UPON WHICH THE COMPANY
COMPLETES ITS INITIAL BUSINESS COMBINATION (AS DEFINED IN SECTION 3 OF THE WARRANT AGREEMENT REFERRED TO HEREIN) EXCEPT TO A PERMITTED TRANSFEREE (AS DEFINED IN SECTION 2 OF THE WARRANT AGREEMENT) WHO AGREES IN WRITING WITH THE COMPANY TO BE SUBJECT
TO SUCH TRANSFER PROVISIONS. 
 SECURITIES EVIDENCED BY THIS CERTIFICATE AND SHARES OF CLASS A COMMON STOCK OF THE COMPANY ISSUED UPON EXERCISE OF SUCH
SECURITIES SHALL BE ENTITLED TO REGISTRATION RIGHTS UNDER A REGISTRATION RIGHTS AGREEMENT TO BE EXECUTED BY THE COMPANY.” 

  
 B-1

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