Document:

EX-10.17

 Exhibit 10.17 

SUBSCRIPTION AGREEMENT 

This SUBSCRIPTION AGREEMENT (this “Subscription Agreement”) is entered into on October 28, 2021, by and between Mountain
Crest Acquisition Corp. II, a Delaware corporation (“MCAD”), and Cowen and Company, LLC (the “Cowen”). 

WHEREAS, this Subscription Agreement is being entered into in connection with the Agreement and Plan of Merger, dated as of the date hereof
(as may be amended, supplemented or otherwise modified from time to time, the “Transaction Agreement”), by and among MCAD, Better Therapeutics, Inc., a Delaware corporation (the “Company”), and MCAD Merger Sub Inc.,
a Delaware corporation (“MCAD Merger Sub”), pursuant to which, among other things, MCAD Merger Sub will merge with and into the Company, with the Company as the surviving company in the merger and, after giving effect to such
merger, the Company being a wholly owned subsidiary of MCAD (the “Transaction”); 
 WHEREAS, in connection with the private
placement of $50,000,000 of MCAD’s securities, Cowen served as a placement agent to MCAD (the “Engagement”); 

WHEREAS, Cowen has agreed to accept shares of MCAD’s common stock, par value $0.0001 per share (the “Shares”), at a
price of $10.00 per share, in lieu of payment of $700,000 of its Engagement fee (the “Fee”), with the balance of the Fee owed to Cowen paid in cash at the closing of the Transaction; 

WHEREAS, the aggregate number of Shares to be received by Cowen in lieu of such payment of fees (as set forth on the signature page hereto) is
referred to herein as the “Acquired Shares,” and the Fees that serves as payment for the Acquired Shares is referred to herein as the “Subscription Amount”. 

NOW, THEREFORE, in consideration of the foregoing and the mutual representations, warranties and covenants, and subject to the conditions, set
forth herein, and intending to be legally bound hereby, each of the Cowen and MCAD acknowledges and agrees as follows: 
 1.
Subscription. Cowen hereby irrevocably subscribes for and agrees to purchase from MCAD the number of Shares set forth on the signature page of this Subscription Agreement on the terms and subject to the conditions provided for herein. Cowen
acknowledges and agrees that MCAD reserves the right to accept or reject the Cowen’s subscription for the Shares for any reason or for no reason, in whole or in part, at any time prior to its acceptance, and the same shall be deemed to be
accepted by MCAD only when this Subscription Agreement is signed by a duly authorized person by or on behalf of MCAD, provided, that if MCAD rejects such subscription the entire amount of the Fees shall be due concurrent with the consummation of the
Transaction; MCAD may do so in counterpart form. 
 2. Closing. The closing of the sale of the Shares contemplated hereby (the
“Closing”) shall occur on the closing date (the “Closing Date”) and be conditioned upon the prior or substantially concurrent consummation of the Transaction. The payment of the Subscription Amount by Cowen shall be
satisfied by cancellation of Fee owed to Cowen by MCAD, and shall be considered paid in full upon the Closing. On the Closing Date, MCAD shall issue the Acquired Shares to Cowen Investments II LLC, as nominee for Cowen and promptly cause such Shares
to be registered in book entry form in the name of Cowen Investments II LLC (“Cowen Investments”) on MCAD’s share register. For purposes of this Subscription Agreement, “business day” shall mean a day, other than a
Saturday, Sunday or other day on which commercial banks in New York, New York are authorized or required by law to close. Prior to or at the Closing, Cowen shall deliver to MCAD a duly completed and executed Internal Revenue Service Form W-9 or appropriate Form W-8. 

 3. Closing Conditions. The obligation of the parties hereto to consummate the
purchase and sale of the Acquired Shares pursuant to this Subscription Agreement is subject to the satisfaction or valid waiver of the conditions that, on the Closing Date: 

(a) there shall not be in force any injunction or order enjoining or prohibiting the issuance and sale of the Shares under this Subscription
Agreement, and no governmental authority of competent jurisdiction shall have enacted, issued, promulgated, enforced or entered any judgment, order, law, rule or regulation which is then in effect and has the effect of restraining, enjoining or
otherwise prohibiting the consummation of the transactions contemplated by this Subscription Agreement; 
 (b) the terms of the Transaction
Agreement (including the conditions thereto) shall have been satisfied (as determined by the parties to the Transaction Agreement) or waived (other than those conditions which, by their nature, are to be satisfied at the closing of the Transaction),
and the closing of the Transaction shall be scheduled to occur substantially concurrently with or immediately following the Closing; 
 (c)
no suspension of the qualification of the Shares for offering or sale or trading, and no suspension or removal from listing of the Shares on any securities exchange, shall have occurred, been initiated, or been threatened or notified to the MCAD in
writing; 
 (d) with respect to MCAD’s obligation to close, (i) the representations and warranties made by Cowen in this
Subscription Agreement shall be true and correct in all material respects as of the Closing Date (other than those representations and warranties expressly made as of an earlier date, which shall be true and correct in all material respects as of
such date), without giving effect to the consummation of the Transactions, and (ii) Cowen shall have performed its obligations and covenants required under this Subscription Agreement to be performed by it on or prior to the Closing Date
(unless such obligation or covenant has been otherwise validly waived); 
 (e) with respect to Cowen’s obligation to close, (i) the
representations and warranties made by MCAD in this Subscription Agreement shall be true and correct in all material respects as of the Closing Date (other than those representations and warranties expressly made as of an earlier date, which shall
be true and correct in all material respects as of such date), without giving effect to the consummation of the Transactions, and (ii) MCAD shall have performed its obligations and covenants required under this Subscription Agreement to be
performed by it on or prior to the Closing Date (unless such obligation or covenant has been otherwise validly waived); 
 (f) with respect
to Cowen’s obligation to close, no term of the Transaction Agreement (as in effect on the date hereof) shall have been amended, modified or waived in a manner that would reasonably be expected to materially adversely affect the economic
benefits that Cowen (in its capacity as such) would reasonably expect to receive under this Subscription Agreement; and 
 (g) with respect
to Cowen’s obligation to close, MCAD shall have obtained all consents or approvals (including any approval of MCAD’s shareholders) necessary to permit MCAD to perform its obligations under this Subscription Agreement. 

4. Further Assurances. At the Closing, the parties hereto shall execute and deliver such additional documents and take such additional
actions as the parties reasonably may deem to be practical and necessary in order to consummate the subscription as contemplated by this Subscription Agreement. 

5. MCAD Representations and Warranties. MCAD represents and warrants to Cowen that: 

(a) MCAD is a Delaware corporation duly incorporated, validly existing and in good standing under the laws of the State of Delaware. MCAD has
all power (corporate or otherwise) and authority to own, lease and operate its properties and conduct its business as presently conducted and to enter into, deliver and perform its obligations under this Subscription Agreement. 

(b) As of the Closing Date, the Shares will be duly authorized and, when issued and delivered to Cowen Investments Cowen against full payment
therefor in accordance with the terms of this Subscription Agreement, the Shares will be validly issued, fully paid and non-assessable and will not have been issued in violation of or subject to any preemptive
or similar rights created under MCAD’s certificate of incorporation (as in effect at such time of issuance) or under the Delaware General Corporation Law. 

  
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 (c) This Subscription Agreement has been duly authorized, executed and delivered by MCAD
and, assuming that this Subscription Agreement constitutes the valid and binding agreement of Cowen, this Subscription Agreement is enforceable against MCAD in accordance with its terms, except as may be limited or otherwise affected by
(i) bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other laws relating to or affecting the rights of creditors generally, or (ii) principles of equity, whether considered at law or equity. 

(d) The issuance and sale by MCAD of the Shares pursuant to this Subscription Agreement will not conflict with or result in a breach or
violation of any of the terms or provisions of, or constitute a default under, or result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of MCAD or any of its subsidiaries pursuant to the terms of
(i) any indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement or instrument to which MCAD or any of its subsidiaries is a party or by which MCAD or any of its subsidiaries is bound or to which any of the property
or assets of MCAD is subject that would reasonably be expected to have a material adverse effect on the business, financial condition or results of operations of MCAD and its subsidiaries, taken as a whole (a “Material Adverse
Effect”), or materially affect the validity of the Shares or the ability of MCAD to comply in all material respects with its obligations under this Subscription Agreement; (ii) result in any violation of the provisions of the
organizational documents of MCAD; or (iii) result in any violation of any statute or any judgment, order, rule or regulation of any court or governmental agency or body, domestic or foreign, having jurisdiction over MCAD or any of its
properties that would reasonably be expected to have a Material Adverse Effect or materially affect the validity of the Shares or the ability of MCAD to comply in all material respects with its obligations under this Subscription Agreement. 

(e) As of their respective filing dates, all reports required to be filed by MCAD with the U.S. Securities and Exchange Commission (the
“SEC”) since its initial public offering (the “SEC Reports”) complied in all material respects with the applicable requirements of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), and the rules and regulations of the SEC promulgated thereunder. None of the SEC Reports filed under the Exchange Act included, when filed or, if amended, as of the date of such amendment with respect to those disclosures that are
amended, any untrue statement of a material fact or omitted to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, that MCAD makes no such
representation or warranty with respect to any registration statement or any proxy statement/prospectus to be filed by MCAD with respect to the Transaction. MCAD has timely filed with the SEC each SEC Report that MCAD was required to file with the
SEC. There are no material outstanding or unresolved comments in comment letters received by MCAD from the SEC (including from the staff of the Division of Corporation Finance of the SEC) with respect to any of the SEC Reports. 

(f) Assuming the accuracy of the representations and warranties of Cowen, MCAD is not required to obtain any consent, waiver, authorization or
order of, give any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental authority, self-regulatory organization or other person in connection with the issuance of the Acquired Shares
pursuant to this Subscription Agreement, other than (i) filings with the SEC, (ii) filings required by applicable state securities laws, (iii) the filings required in accordance with the terms of this Subscription Agreement;
(iv) those required by the NASDAQ, including with respect to obtaining approval of MCAD’s stockholders, and (v) the failure of which to obtain would not be reasonably be expected to have, individually or in the aggregate, a Material
Adverse Effect. 
 (g) MCAD is in compliance with all applicable laws, except where such
non-compliance would not reasonably be expected to have a Material Adverse Effect. MCAD has not received any written communication from a governmental authority that alleges that MCAD is not in compliance with
or is in default or violation of any applicable law, except where such non-compliance, default or violation would not reasonably be expected to have, individually or in the aggregate, a Material Adverse
Effect. 
 (h) Except for such matters as have not had and would not reasonably be expected to have a Material Adverse Effect, there is no
(i) suit, action, proceeding or arbitration before a governmental authority or arbitrator pending, or, to the knowledge of MCAD, threatened in writing against MCAD or (ii) judgment, decree, injunction, ruling or order of any governmental
authority or arbitrator outstanding against MCAD. 

  
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 (i) The authorized share capital of MCAD consists, as of the date hereof and as of
immediately prior to the closing date of the Transaction, (i) 30,000,000 shares of common stock, 7,557,500 of which is issued and outstanding and (ii) 1,000,000 shares of preferred stock, 0 of which is issued and outstanding. 

(j) The issued and outstanding Shares are registered pursuant to Section 12(b)of the Exchange Act and are listed for trading on Nasdaq.
There is no suit, action, proceeding or investigation pending or, to the knowledge of MCAD, threatened against MCAD by Nasdaq or the SEC with respect to any intention by such entity to deregister the Shares or prohibit or terminate the listing of
the Shares on Nasdaq. MCAD has taken no action that is designed to terminate or is reasonably expected to result in the termination of the registration of the Shares under the Exchange Act or the listing of the Shares on Nasdaq and is in compliance
in all material respects with the listing requirements of Nasdaq. 
 (k) MCAD has provided Cowen with a true and correct copy of the
Transaction Agreement as in effect on the date hereof. 
 (l) There are no securities or instruments issued by or to which MCAD is a party
containing anti-dilution or similar provisions that will be triggered by the issuance of (i) the Acquired Shares, or (ii) the shares to be issued pursuant to the Transaction, in each case, that have not been or will not be validly waived
on or prior to the closing date of the Transaction. 
 6. Cowen Representations and Warranties. Cowen represents and warrants to MCAD
that: 
 (a) Cowen (i) is a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act of 1933, as
amended (the “Securities Act”)) or an institutional “accredited investor” (within the meaning of Rule 501(a) )(1), (2), (3), (7) or (8) under the Securities Act), in each case, satisfying the applicable
requirements set forth on Schedule A, (ii) is acquiring the Shares only for its own account and not for the account of others, or if Cowen is subscribing for the Shares as a fiduciary or agent for one or more investor
accounts, Cowen has full investment discretion with respect to each such account, and the full power and authority to make the acknowledgements, representations and agreements herein on behalf of each owner of each such account, and (iii) is
not acquiring the Shares with a view to, or for offer or sale in connection with, any distribution thereof in violation of the Securities Act (and shall provide the requested information set forth on Schedule A). Cowen is
not an entity formed for the specific purpose of acquiring the Shares and is an “institutional account” as defined by FINRA Rule 4512(c). 

(b) Cowen acknowledges and agrees that the Shares are being offered in a transaction not involving any public offering within the meaning of
the Securities Act, that the Shares have not been registered under the Securities Act and that MCAD is not required to register the Shares except as set forth in Section 7 of this Subscription Agreement. Cowen acknowledges
and agrees that the Shares may not be offered, resold, transferred, pledged or otherwise disposed of by Cowen absent an effective registration statement under the Securities Act except (i) to MCAD or a subsidiary thereof, (ii) to non-U.S. persons pursuant to offers and sales that occur outside the United States within the meaning of Regulation S under the Securities Act or (iii) pursuant to another applicable exemption from the
registration requirements of the Securities Act, and, in each case, in accordance with any applicable securities laws of the states of the United States and other applicable jurisdictions, and that any certificates representing the Shares shall
contain a restrictive legend to such effect. Cowen acknowledges and agrees that the Shares will be subject to transfer restrictions and, as a result of these transfer restrictions, Cowen may not be able to readily offer, resell, transfer, pledge or
otherwise dispose of the Shares and may be required to bear the financial risk of an investment in the Shares for an indefinite period of time. Cowen acknowledges and agrees that the Shares will not immediately be eligible for offer, resale,
transfer, pledge or disposition pursuant to Rule 144 promulgated under the Securities Act, and that the provisions of Rule 144(i) will apply to the Shares. Cowen acknowledges and agrees that it has been advised to consult legal, tax and
accounting prior to making any offer, resale, transfer, pledge or disposition of any of the Shares. 

  
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 (c) Cowen acknowledges and agrees that Cowen is purchasing the Shares directly from MCAD.
Cowen further acknowledges that there have been no representations, warranties, covenants and agreements made to Cowen by or on behalf of MCAD, the Company, any of their respective affiliates or any control persons, officers, directors, employees,
agents or representatives of any of the foregoing or any other person or entity, expressly or by implication, other than those representations, warranties, covenants and agreements of MCAD expressly set forth in Section 5
of this Subscription Agreement. 
 (d) Cowen acknowledges and agrees that Cowen has received such information as Cowen deems necessary in
order to make an investment decision with respect to the Shares, including, with respect to MCAD, the Transaction and the business of the Company and its subsidiaries. Without limiting the generality of the foregoing, Cowen acknowledges that it has
reviewed MCAD’s filings with the SEC. Cowen acknowledges and agrees that Cowen and Cowen’s professional advisor(s), if any, have had the full opportunity to ask such questions, receive such answers and obtain such information as Cowen and
Cowen’s professional advisor(s), if any, have deemed necessary to make an investment decision with respect to the Shares. 
 (e) Cowen
became aware of this offering of the Shares solely by means of direct contact between Cowen and MCAD, the Company or a representative of MCAD or the Company, and the Shares were offered to Cowen solely by direct contact between Cowen and MCAD, the
Company or a representative of MCAD or the Company. Cowen did not become aware of this offering of the Shares, nor were the Shares offered to Cowen, by any other means. Cowen acknowledges that the Shares (i) were not offered by any form of
general solicitation or general advertising and (ii) are not being offered in a manner involving a public offering under, or in a distribution in violation of, the Securities Act, or any state securities laws. Cowen acknowledges that it is not
relying upon, and has not relied upon, any statement, representation or warranty made by any person, firm or corporation (including, without limitation, MCAD, the Company, any of their respective affiliates or any control persons, officers,
directors, employees, agents or representatives of any of the foregoing), other than the representations and warranties of MCAD contained in Section 5 of this Subscription Agreement, in making its investment or decision to
invest in MCAD. 
 (f) Cowen acknowledges that it is aware that there are substantial risks incident to the purchase and ownership of the
Shares, including those set forth in MCAD’s filings with the SEC. Cowen has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of an investment in the Shares, and Cowen has sought
such accounting, legal and tax advice as Cowen has considered necessary to make an informed investment decision. Cowen acknowledges that Cowen shall be responsible for any of Cowen’s tax liabilities that may arise as a result of the
transactions contemplated by this Subscription Agreement, and that neither MCAD nor the Company has provided any tax advice or any other representation or guarantee regarding the tax consequences of the transactions contemplated by the Subscription
Agreement. Cowen acknowledges that (A) it (i) is a sophisticated investor, experienced in investing in similar transactions and capable of evaluating investment risks independently, both in general and with regard to all transactions and
investment strategies involving a security or securities and (ii) has exercised independent judgment in evaluating its participation in the purchase of the Shares and (B) the purchase and sales of the Shares hereunder meet (i) the
exemptions from filing under FINRA Rule 5123(b)(1) and (ii) the institutional customer exception under FINRA Rule 2111(b). 
 (g) Alone,
or together with any professional advisor(s), Cowen has adequately analyzed and fully considered the risks of an investment in the Shares and determined that the Shares are a suitable investment for Cowen and that Cowen is able at this time and in
the foreseeable future to bear the economic risk of a total loss of Cowen’s investment in MCAD. Cowen acknowledges specifically that a possibility of total loss exists. 

(h) In making its decision to purchase the Shares, Cowen has relied solely upon independent investigation made by Cowen. Without limiting the
generality of the foregoing, Cowen has not relied on any statements or other information provided by or on behalf of any third party or any affiliates or any control persons, officers, directors, employees, agents or representatives of such third
party or of any of the foregoing concerning MCAD, the Company, the Transaction, the Transaction Agreement, this Subscription Agreement or the transactions contemplated hereby or thereby, the Shares or the offer and sale of the Shares. 

  
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 (i) Cowen acknowledges and agrees that no federal or state agency has passed upon or
endorsed the merits of the offering of the Shares or made any findings or determination as to the fairness of this investment. 
 (j) Cowen
has been duly formed or incorporated and is validly existing and is in good standing under the laws of its jurisdiction of formation or incorporation, with power and authority to enter into, deliver and perform its obligations under this
Subscription Agreement. 
 (k) The execution, delivery and performance by Cowen of this Subscription Agreement are within the powers of
Cowen, have been duly authorized and (i) will not constitute or result in a breach or default under or conflict with any order, ruling or regulation of any court or other tribunal or of any governmental commission or agency, or any agreement or
other undertaking, to which Cowen is a party or by which Cowen is bound, and will not violate any provisions of Cowen’s organizational documents, including, without limitation, its incorporation or formation papers, bylaws, indenture of trust
or partnership or operating agreement, as may be applicable and (ii) will not conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, or result in the creation or imposition of any
lien, charge or encumbrance upon any of the property or assets of Cowen or any of its subsidiaries pursuant to the terms of any indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement or instrument to which Cowen or any
of its subsidiaries is a party or by which Cowen or any of its subsidiaries is bound or to which any of the property or assets of Cowen is subject that would reasonably be expected to have a material adverse effect on the ability of Cowen to comply
in all material respects with its obligations under this Subscription Agreement. 
 (l) The signature on this Subscription Agreement is
genuine, and the signatory has legal competence and capacity to execute the same or the signatory has been duly authorized to execute the same, and this Subscription Agreement constitutes a legal, valid and binding obligation of Cowen, enforceable
against Cowen in accordance with its terms except as may be limited or otherwise affected by (i) bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other laws relating to or affecting the rights of creditors generally,
and (ii) principles of equity, whether considered at law or equity. 
 (m) Neither Cowen nor any of its officers, directors, managers,
managing members, general partners or any other person acting in a similar capacity or carrying out a similar function, is (i) a person named on the Specially Designated Nationals and Blocked Persons List, the Foreign Sanctions Evaders List,
the Sectoral Sanctions Identification List, or any other similar list of sanctioned persons administered by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”), or any similar list of sanctioned persons
administered by the European Union or any individual European Union member state, including the United Kingdom (collectively, “Sanctions Lists”); (ii) directly or indirectly owned or controlled by, or acting on behalf of, one
or more persons on a Sanctions List; (iii) organized, incorporated, established, located, resident or born in, or a citizen, national, or the government, including any political subdivision, agency, or instrumentality thereof, of, Cuba, Iran,
North Korea, Syria, Venezuela, the Crimea region of Ukraine, or any other country or territory embargoed or subject to substantial trade restrictions by the United States, the European Union or any individual European Union member state, including
the United Kingdom; (iv) a Designated National as defined in the Cuban Assets Control Regulations, 31 C.F.R. Part 515; or (v) a non-U.S. shell bank or providing banking services indirectly to a non-U.S. shell bank (collectively, a “Prohibited Investor”). Cowen represents that if it is a financial institution subject to the Bank Secrecy Act (31 U.S.C. Section 5311 et seq.) (the
“BSA”), as amended by the USA PATRIOT Act of 2001 (the “PATRIOT Act”), and its implementing regulations (collectively, the “BSA/PATRIOT Act”), that Cowen maintains policies and procedures reasonably
designed to comply with applicable obligations under the BSA/PATRIOT Act. Cowen also represents that it maintains policies and procedures reasonably designed to ensure compliance with sanctions administered by the United States, the European Union,
or any individual European Union member state, including the United Kingdom. 
 (n) [RESERVED] 

(o) [RESERVED] 

  
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 7. Registration Rights. 

(a) MCAD agrees that, within thirty (30) calendar days following the Closing Date (such deadline, the “Filing Deadline”),
MCAD will submit to or file with the SEC a registration statement for a shelf registration on Form S-1 or Form S-3 (if the Company is then eligible to use a Form S-3 shelf registration) (the “Registration Statement”), in each case, covering the resale of the Registrable Shares (as defined below) and MCAD shall use its commercially reasonable efforts to have
the Registration Statement declared effective as soon as practicable after the filing thereof, but no later than the earlier of (i) the 90th calendar day following the filing date thereof if
the SEC notifies MCAD that it will “review” the Registration Statement and (ii) the 5th business day after the date MCAD is notified (orally or in writing, whichever is earlier) by
the SEC that the Registration Statement will not be “reviewed” or will not be subject to further review (such earlier date, the “Effectiveness Deadline”); provided, however, that MCAD’s obligations to include
the Registrable Shares in the Registration Statement are contingent upon Cowen furnishing a completed and executed selling shareholder’s questionnaire in customary form to MCAD, that contains such information regarding Cowen as required by the
SEC rules to be included in the Registration Statement, the securities of MCAD held by Cowen and the intended method of disposition of the Registrable Shares (which shall be limited to non-underwritten public
offerings) as shall be reasonably requested by MCAD to effect the registration of the Registrable Shares, and Cowen shall execute such documents in connection with such registration as MCAD may reasonably request that are customary of a selling
stockholder in similar situations, including providing that MCAD shall be entitled to postpone and suspend the effectiveness or use of the Registration Statement during any customary blackout or similar period or as permitted hereunder; and
further provided that Cowen shall not in connection with the foregoing be required to execute any lock-up or similar agreement or otherwise be subject to any contractual restriction on the ability to
transfer the Registrable Shares. Any failure by MCAD to file the Registration Statement by the Filing Deadline or to cause the effectiveness of such Registration Statement by the Effectiveness Deadline shall not otherwise relieve MCAD of its
obligations to file or effect the Registration Statement as set forth above in this Section 7. “Registrable Shares” shall mean, as of any date of determination, the Acquired Shares and any other equity
security of MCAD issued or issuable with respect to the Acquired Shares by way of share split, dividend, distribution, recapitalization, merger, exchange, replacement or similar event or otherwise. 

(b) At its expense MCAD shall: 

(i) except for such times as MCAD is permitted hereunder to suspend the use of the prospectus forming part of a Registration
Statement, use its commercially reasonable efforts to keep such registration, and any qualification, exemption or compliance under state securities laws which MCAD determines to obtain, continuously effective with respect to Cowen, and to keep the
applicable Registration Statement or any subsequent shelf registration statement free of any material misstatements or omissions, until the earlier of the following: (A) Cowen ceases to hold any Registrable Shares, (B) the date all
Registrable Shares held by Cowen may be sold without restriction under Rule 144, including without limitation, any volume and manner of sale restrictions which may be applicable to affiliates under Rule 144 and without the requirement for MCAD to be
in compliance with the current public information required under Rule 144(c)(1) (or Rule 144(i)(2), if applicable), and (C) three years from the date of effectiveness of the Registration Statement. The period of time during which MCAD is
required hereunder to keep a Registration Statement effective is referred to herein as the “Registration Period”; 

(ii) advise Cowen, as expeditiously as possible: 

(1) when a Registration Statement or any amendment thereto has been filed with the SEC; 

(2) after it shall receive notice or obtain knowledge thereof, of the issuance by the SEC of any stop order suspending the
effectiveness of any Registration Statement or the initiation of any proceedings for such purpose; 
 (3) of the receipt by
MCAD of any notification with respect to the suspension of the qualification of the Registrable Shares included therein for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and 

  
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 (4) subject to the provisions in this Subscription Agreement, of the
occurrence of any event that requires the making of any changes in any Registration Statement or prospectus so that, as of such date, the statements therein are not misleading and do not omit to state a material fact required to be stated therein or
necessary to make the statements therein (in the case of a prospectus, in the light of the circumstances under which they were made) not misleading. 

Notwithstanding anything to the contrary set forth herein, MCAD shall not, when so advising Cowen of such events, provide
Cowen with any material, nonpublic information regarding MCAD other than to the extent that providing notice to Cowen of the occurrence of the events listed in (1) through (4) above constitutes material, nonpublic information regarding
MCAD; 
 (iii) use its commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of
any Registration Statement as soon as reasonably practicable; 
 (iv) upon the occurrence of any event contemplated in
Section 7(b)(ii)(4) above, except for such times as MCAD is permitted hereunder to suspend, and has suspended, the use of a prospectus forming part of a Registration Statement, MCAD shall use its commercially reasonable
efforts to as soon as reasonably practicable prepare a post-effective amendment to such Registration Statement or a supplement to the related prospectus, or file any other required document so that, as thereafter delivered to purchasers of the
Registrable Shares included therein, such prospectus will not include any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made,
not misleading; 
 (v) use its commercially reasonable efforts to cause all Registrable Shares to be listed on each
securities exchange or market, if any, on which the Shares issued by MCAD have been listed; and 
 (vi) otherwise, in good
faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by Cowen, consistent with the terms of this Agreement, in connection with the registration of the Registrable Shares. 

(c) MCAD will provide a draft of the Registration Statement to Cowen for review at least two (2) business days in advance of filing the
Registration Statement; provided that, for the avoidance of doubt, in no event shall MCAD be required to delay or postpone the filing of such Registration Statement as a result of or in connection with Cowen’s review. In no event shall Cowen be
identified as a statutory underwriter in the Registration Statement unless requested by the Commission; provided, that, if the Commission requests that Cowen be identified as a statutory underwriter in the Registration Statement, Cowen will have an
opportunity to withdraw its Acquired Shares from the Registration Statement. Notwithstanding the foregoing, if the Commission prevents MCAD from including any or all of the shares proposed to be registered under the Registration Statement due to
limitations on the use of Rule 415 under the Securities Act for the resale of the Acquired Shares by Cowen and the resale of other shares acquired by any other investors or otherwise, such Registration Statement shall register for resale such number
of Acquired Shares which is equal to the maximum number of Acquired Shares as is permitted by the Commission. In such event, the number of Acquired Shares to be registered for Cowen and the number of shares to be registered for such other investors
named in the Registration Statement shall be reduced pro rata among all such investors. In the event that MCAD amends the Registration Statement in accordance with the foregoing, MCAD will use its commercially reasonable efforts to file with the
Commission, as promptly as allowed by the Commission, one or more registration statements to register the resale of those Registrable Shares that were not registered on the initial Registration Statement, as so amended, and cause such amendment or
Registration Statement to become effective as promptly as practicable. 

  
 8 

 (d) Notwithstanding anything to the contrary in this Subscription Agreement, MCAD shall be
entitled to delay the filing or effectiveness of, or suspend the use of, the Registration Statement if it determines that in order for the Registration Statement not to contain a material misstatement or omission, (i) an amendment thereto would
be needed to include information that would at that time not otherwise be required in a current, quarterly, or annual report under the Exchange Act, (ii) the negotiation or consummation of a transaction by MCAD or its subsidiaries is pending or
an event has occurred, which negotiation, consummation or event MCAD’s board of directors reasonably believes would require additional disclosure by MCAD in the Registration Statement of material information that MCAD has a bona fide business
purpose for keeping confidential and the non-disclosure of which in the Registration Statement would be expected, in the reasonable determination of MCAD’s board of directors to cause the Registration
Statement to fail to comply with applicable disclosure requirements, or (iii) in the good faith judgment of the majority of MCAD’s board of directors, such filing or effectiveness or use of such Registration Statement, would be seriously
detrimental to the Company and the majority of the MCAD board or directors concludes as a result that it is essential to defer such filing (each such circumstance, a “Suspension Event”); provided, however, that MCAD
may not delay or suspend the Registration Statement on more than two occasions or for more than forty-five (45) consecutive calendar days, or more than ninety (90) total calendar days in each case during any twelve-month period. Upon
receipt of any written notice from MCAD of the happening of any Suspension Event during the period that the Registration Statement is effective or if as a result of a Suspension Event the Registration Statement or related prospectus contains any
untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein (in light of the circumstances under which they were made, in the case of the prospectus) not
misleading, Cowen agrees that (i) it will immediately discontinue offers and sales of the Registrable Shares under the Registration Statement (excluding, for the avoidance of doubt, sales conducted pursuant to Rule 144) until Cowen receives
copies of a supplemental or amended prospectus (which MCAD agrees to promptly prepare) that corrects the misstatement(s) or omission(s) referred to above and receives notice that any post-effective amendment has become effective or unless otherwise
notified by MCAD that it may resume such offers and sales, and (ii) it will maintain the confidentiality of any information included in such written notice delivered by MCAD unless otherwise required by law or subpoena. If so directed by MCAD,
Cowen will deliver to MCAD or, in Cowen’s sole discretion destroy, all copies of the prospectus covering the Registrable Shares in Cowen’s possession; provided, however, that this obligation to deliver or destroy all copies of the
prospectus covering the Registrable Shares shall not apply (A) to the extent Cowen is required to retain a copy of such prospectus (1) in order to comply with applicable legal, regulatory, self-regulatory or professional requirements or
(2) in accordance with a bona fide pre-existing document retention policy or (B) to copies stored electronically on archival servers as a result of automatic data
back-up. 
 (e) Indemnification. 

(i) MCAD agrees to indemnify, to the extent permitted by law, Cowen and Cowen Investments (to the extent a seller under the
Registration Statement), its directors, officers, members, managers, affiliates, shareholders, partners, employees, agents, advisers, and each person who controls Cowen (within the meaning of Section 15 of the Securities Act or Section 20
of the Exchange Act), to the extent permitted by law, against all losses, claims, damages, liabilities and reasonable and documented out of pocket expenses (including reasonable and documented attorneys’ fees of one law firm) (collectively,
“Losses”), as incurred, caused by or arising out of any untrue or alleged untrue statement of material fact contained in any Registration Statement, prospectus included in any Registration Statement (“Prospectus”)
or preliminary Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of a Prospectus, in the light of
the circumstances under which they were made) not misleading, except insofar as the same are caused by or contained in any information or affidavit so furnished in writing to MCAD by or on behalf of Cowen expressly for use therein. provided,
however, that the indemnification contained in this Section 7(e) shall not apply to amounts paid in settlement of any Losses if such settlement is effected without the consent of MCAD (which consent shall not be
unreasonably withheld, conditioned or delayed), nor shall MCAD be liable for any Losses to the extent they arise out of or are based upon a violation which occurs: (a) in connection with any failure of such person to deliver or cause to be
delivered a Prospectus made available by MCAD in a timely manner and required to be delivered by such person in connection with the offer or sale giving rise to such Losses, (b) as a result of offers or sales effected by or on behalf of any
person by means of a “free writing prospectus” (as defined in Rule 405 under the Securities Act) that was not authorized in writing by MCAD, or (c) in connection with any offers or sales effected by or on behalf of Cowen during a
period in which MCAD has suspended use of any Registration Statement as permitted by this Subscription Agreement. 

  
 9 

 (ii) In connection with any Registration Statement in which Cowen is
participating, Cowen shall furnish (or cause to be furnished) to MCAD in writing such information and affidavits as MCAD reasonably requests for use in connection with any such Registration Statement or Prospectus and, to the extent permitted by
law, shall indemnify MCAD, its directors and officers and each person or entity who controls MCAD (within the meaning of the Securities Act) against any Losses resulting from any untrue or alleged untrue statement of material fact contained or
incorporated by reference in any Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make
the statements therein (in the case of a Prospectus, in the light of the circumstances under which they were made) not misleading, but only to the extent that such untrue statement or omission is contained (or not contained in, in the case of an
omission) in any information or affidavit so furnished in writing by on behalf of Cowen expressly for use therein; provided, however, that the liability of Cowen shall be several and not joint and shall be in proportion to and limited
to the net proceeds received by Cowen from the sale of Registrable Shares giving rise to such indemnification obligation. 

(iii) Any person or entity entitled to indemnification herein shall (A) give prompt written notice to the indemnifying
party of any claim with respect to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any person’s or entity’s right to indemnification hereunder to the extent such failure has not
prejudiced the indemnifying party) and (B) unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim, permit such indemnifying party
to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability for any settlement made by the indemnified party without its
consent (but such consent shall not be unreasonably withheld). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more than one counsel for all parties
indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to
such claim. No indemnifying party shall, without the consent of the indemnified party, consent to the entry of any judgment or enter into any settlement which cannot be settled in all respects by the payment of money (and such money is so paid by
the indemnifying party pursuant to the terms of such settlement) or which settlement includes a statement or admission of fault and culpability on the part of such indemnified party or which does not include as an unconditional term thereof the
giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation.

(iv) The indemnification provided for under this Subscription Agreement shall remain in full force and effect regardless of any
investigation made by or on behalf of the indemnified party or any officer, director or controlling person or entity of such indemnified party and shall survive the transfer of securities.

(v) If the indemnification provided under this Section 7(e) from the indemnifying party is
unavailable or insufficient to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities and expenses referred to herein, then the indemnifying party, in lieu of indemnifying the indemnified party, shall contribute to
the amount paid or payable by the indemnified party as a result of such losses, claims, damages, liabilities and expenses in such proportion as is appropriate to reflect the relative fault of the indemnifying party and the indemnified party, as well
as any other relevant equitable considerations. The relative fault of the indemnifying party and indemnified party shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue
statement of a material fact or omission or alleged omission to state a material fact, was made by (or not made by, in the case 

  
 10 

 
of an omission), or relates to information supplied by (or not supplied by, in the case of an omission), such indemnifying party or indemnified party, and the indemnifying party’s and
indemnified party’s relative intent, knowledge, access to information and opportunity to correct or prevent such action. The amount paid or payable by a party as a result of the losses or other liabilities referred to above shall be deemed to
include, subject to the limitations set forth in Sections 7(e)(i), (ii) and (iii) above, any legal or other fees, charges or expenses reasonably incurred by such party in connection with any investigation or proceeding. No person guilty
of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution pursuant to this Section 7(e)(v) from any person or entity who was not guilty of such
fraudulent misrepresentation. 
 (f) MCAD will provide all customary and commercially reasonable cooperation necessary to (i) enable
Cowen to resell Registrable Shares pursuant to the Registration Statement or Rule 144, as applicable, (ii) qualify the Registrable Shares for listing on the primary stock exchange on which MCAD’s common stock is then listed,
(iii) update or amend the Registration Statement as necessary to include Registrable Shares and (iv) provide customary notice to holders of Registrable Shares. 

(g) MCAD shall use its commercially reasonable efforts, at its sole expense, to cause its legal counsel to (a) issue to the transfer agent
with respect to the Shares (the “Transfer Agent”) and maintain a “blanket” legal opinion instructing the Transfer Agent that, in connection with a sale of Acquired Shares that are “restricted securities” (i.e.,
securities issued pursuant to an exemption from the registration requirements of Section 5 of the Securities Act), the resale of which restricted securities has been registered pursuant to an effective resale registration statement by the
holder thereof named in such resale registration statement, upon receipt of an appropriate broker representation letter and other such documentation as MCAD’s counsel deems necessary and appropriate and after confirming compliance with relevant
prospectus delivery requirements, it is authorized to remove any applicable restrictive legend and (b) if the Acquired Shares are not registered pursuant to an effective resale registration statement, issue to the Transfer Agent a legal opinion
to facilitate the sale of the Acquired Shares and removal of any restrictive legends pursuant to any exemption from the registration requirements of Section 5 of the Securities Act that may be available to Cowen. 

8. Termination. This Subscription Agreement shall terminate and be void and of no further force and effect, and all rights and
obligations of the parties hereunder shall terminate without any further liability on the part of any party in respect thereof, upon the earliest to occur of (a) such date and time as the Transaction Agreement is terminated in accordance with
its terms, (b) upon the mutual written agreement of each of the parties hereto to terminate this Subscription Agreement, (c) if the conditions to Closing set forth in Section 3 of this Subscription Agreement are
not satisfied, or are not capable of being satisfied, on or prior to the Closing and, as a result thereof, the transactions contemplated by this Subscription Agreement will not be or are not consummated at the Closing and (d) the Outside Date
(as defined in the Transaction Agreement and as it may be extended as described therein) if the Closing has not occurred by such date; provided that nothing herein will relieve any party from liability for any willful breach hereof prior to
the time of termination, and each party will be entitled to any remedies at law or in equity to recover losses, liabilities or damages arising from any such willful breach. MCAD shall notify Cowen of the termination of the Transaction Agreement
promptly after the termination of such agreement. 
 9. Trust Account Waiver. Cowen acknowledges that MCAD is a blank check company
with the powers and privileges to effect a merger, asset acquisition, reorganization or similar business combination involving MCAD and one or more businesses or assets. Cowen further acknowledges that, as described in MCAD’s prospectus
relating to its initial public offering dated December 21, 2020 (the “IPO Prospectus”) available at www.sec.gov, substantially all of MCAD’s assets consist of the cash proceeds of MCAD’s initial public offering and
private placement of its securities, and substantially all of those proceeds have been deposited in a trust account (the “Trust Account”) for the benefit of MCAD, its public shareholders and the underwriter of MCAD’s initial
public offering. Except with respect to interest earned on the funds held in the Trust Account that may be released to MCAD to pay its tax obligations, if any, the cash in the Trust Account may be disbursed only for the purposes set forth in the IPO
Prospectus. For and in consideration of MCAD entering into this Subscription Agreement, the receipt and sufficiency of which are hereby acknowledged, Cowen hereby irrevocably waives any and all right, title and interest, or any claim of any kind it
has or may have in the future, in or to any monies held in the Trust Account, and agrees not to seek recourse against the Trust Account as a result of, or arising out of, this Subscription 

  
 11 

 
Agreement; provided, however, that nothing in this Section 9 shall be deemed to limit Cowen’s right, title, interest or claim to the Trust Account by virtue of Cowen’s
(x) record or beneficial ownership of common stock acquired by any means other than pursuant to this Subscription Agreement or (y) redemption rights in connection with the Transaction with respect to any shares of common stock of MCAD
owned by Cowen. 
 10. Miscellaneous. 

(a) Neither this Subscription Agreement nor any rights that may accrue to Cowen hereunder (other than the Shares acquired hereunder, if any)
may be transferred or assigned without the prior written consent of MCAD. Notwithstanding the foregoing, this Subscription Agreement and any of Cowen’s rights and obligations hereunder may be assigned to any fund or account managed by the same
investment manager or investment advisor as Cowen or by an affiliate of such investment manager or Cowen advisor, without the prior consent of MCAD, provided that such assignee(s) agrees in writing to be bound by the terms hereof. Upon such
assignment by Cowen, the assignee(s) shall become a party hereunder and have the rights and obligations provided for herein to the extent of such assignment; provided further that, no assignment shall relieve the assigning party of any of its
obligations hereunder, including any assignment to any fund or account managed by the same investment manager or investment advisor as Cowen or by an affiliate of such investment manager or investment advisor, unless consented to in writing by MCAD
(such consent not to be unreasonably conditioned, delayed or withheld). 
 (b) MCAD may request from Cowen such additional information as
MCAD may deem necessary to evaluate the eligibility of Cowen to acquire the Shares and in connection with the inclusion of the Shares in the Registration Statement, and Cowen shall provide such information as may reasonably be requested. Cowen
acknowledges that MCAD may file a copy of this Subscription Agreement with the SEC as an exhibit to a current or periodic report or a registration statement of MCAD. 

(c) Cowen acknowledges that MCAD and the Company (with the Company being an express third-party beneficiary to this Agreement, including each
with a right of enforcement) and others will rely on the acknowledgments, understandings, agreements, representations and warranties of Cowen contained in this Subscription Agreement. Prior to the Closing, Cowen agrees to promptly notify MCAD and
the Company if any of the acknowledgments, understandings, agreements, representations and warranties of Cowen set forth herein are no longer accurate. Cowen acknowledges and agrees that each purchase by Cowen of Shares from MCAD will constitute a
reaffirmation of the acknowledgments, understandings, agreements, representations and warranties herein (as modified by any such notice) by Cowen as of the time of such purchase. 

(d) MCAD is entitled to rely upon this Subscription Agreement and is irrevocably authorized to produce this Subscription Agreement or a copy
hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby. 

(e) All of the representations and warranties contained in this Subscription Agreement shall survive the Closing. All of the covenants and
agreements made by each party hereto in this Subscription Agreement shall survive the Closing. 
 (f) This Subscription Agreement may not be
modified, waived or terminated (other than pursuant to the terms of Section 8 above) except by an instrument in writing, signed by (i) MCAD, (ii) Cowen and (iii) the Company. No failure or delay of either party in
exercising any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such right or power, or any course of conduct,
preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the parties and third-party beneficiaries hereunder are cumulative and are not exclusive of any rights or remedies that they would
otherwise have hereunder. 
 (g) This Subscription Agreement (including the schedule hereto) constitutes the entire agreement, and supersedes
all other prior agreements, understandings, representations and warranties, both written and oral, among the parties, with respect to the subject matter hereof. Except as set forth in Section 7 and
Section 10(c) with respect to the persons referenced therein, this Subscription Agreement shall not confer any rights or remedies upon any person other than the parties hereto, and their respective successor and
assigns. 

  
 12 

 (h) Except as otherwise provided herein, this Subscription Agreement shall be binding upon,
and inure to the benefit of the parties hereto and their heirs, executors, administrators, successors, legal representatives, and permitted assigns, and the agreements, representations, warranties, covenants and acknowledgments contained herein
shall be deemed to be made by, and be binding upon, such heirs, executors, administrators, successors, legal representatives and permitted assigns. 

(i) If any provision of this Subscription Agreement shall be adjudicated by a court of competent jurisdiction to be invalid, illegal or
unenforceable, the validity, legality or enforceability of the remaining provisions of this Subscription Agreement shall not in any way be affected or impaired thereby and shall continue in full force and effect. 

(j) This Subscription Agreement may be executed in one or more counterparts (including by electronic mail or in .pdf) and by different parties
in separate counterparts, with the same effect as if all parties hereto had signed the same document. All counterparts so executed and delivered shall be construed together and shall constitute one and the same agreement. 

(k) The parties hereto acknowledge and agree that irreparable damage would occur in the event that any of the provisions of this Subscription
Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties shall be entitled to an injunction or injunctions to prevent breaches of this Subscription Agreement, without
posting a bond or undertaking and without proof of damages, to enforce specifically the terms and provisions of this Subscription Agreement, this being in addition to any other remedy to which such party is entitled at law, in equity, in contract,
in tort or otherwise. 
 (l) This Subscription Agreement and all disputes, legal actions, suits and proceedings arising out of or relating to
this Subscription Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, without regard to the principles of conflicts of laws that would otherwise require the application of the law of any other state.

 (m) THE PARTIES HERETO IRREVOCABLY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE COURT OF CHANCERY OF THE STATE OF DELAWARE (OR, TO THE
EXTENT SUCH COURT DOES NOT HAVE SUBJECT MATTER JURISDICTION, THE SUPERIOR COURT OF THE STATE OF DELAWARE, OR THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF DELAWARE) SOLELY IN RESPECT OF THE INTERPRETATION AND ENFORCEMENT OF THE PROVISIONS OF
THIS SUBSCRIPTION AGREEMENT AND THE DOCUMENTS REFERRED TO IN THIS SUBSCRIPTION AGREEMENT AND IN RESPECT OF THE TRANSACTIONS CONTEMPLATED HEREBY, AND HEREBY WAIVE, AND AGREE NOT TO ASSERT, AS A DEFENSE IN ANY ACTION, SUIT OR PROCEEDING FOR
INTERPRETATION OR ENFORCEMENT HEREOF OR ANY SUCH DOCUMENT THAT IS NOT SUBJECT THERETO OR THAT SUCH ACTION, SUIT OR PROCEEDING MAY NOT BE BROUGHT OR IS NOT MAINTAINABLE IN SAID COURTS OR THAT VENUE THEREOF MAY NOT BE APPROPRIATE OR THAT THIS
SUBSCRIPTION AGREEMENT OR ANY SUCH DOCUMENT MAY NOT BE ENFORCED IN OR BY SUCH COURTS, AND THE PARTIES HERETO IRREVOCABLY AGREE THAT ALL CLAIMS WITH RESPECT TO SUCH ACTION, SUIT OR PROCEEDING SHALL BE HEARD AND DETERMINED BY SUCH A DELAWARE STATE OR
FEDERAL COURT. THE PARTIES HEREBY CONSENT TO AND GRANT ANY SUCH COURT JURISDICTION OVER THE PERSON OF SUCH PARTIES AND OVER THE SUBJECT MATTER OF SUCH DISPUTE AND AGREE THAT MAILING OF PROCESS OR OTHER PAPERS IN CONNECTION WITH SUCH ACTION, SUIT OR
PROCEEDING IN THE MANNER PROVIDED IN THIS SECTION 10(m) OF THIS SUBSCRIPTION AGREEMENT OR IN SUCH OTHER MANNER AS MAY BE PERMITTED BY LAW SHALL BE VALID AND SUFFICIENT SERVICE THEREOF. 

(n) EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR
INDIRECTLY ARISING OUT OF OR RELATING TO THIS SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS 

  
 13 

 
SUBSCRIPTION AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY
WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER; (II) SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THE FOREGOING WAIVER; (III) SUCH PARTY MAKES THE FOREGOING WAIVER VOLUNTARILY; AND
(IV) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS SUBSCRIPTION AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVER AND CERTIFICATIONS IN THIS SECTION 10(n). 

(o) Notwithstanding anything in this Subscription Agreement to the contrary, MCAD shall not publicly disclose the name of Cowen or any of its
affiliates or its investment adviser, or include the name of Cowen or any of its affiliates or its investment adviser in any press release or in any filing with the Commission or any regulatory agency or trading market, without the prior written
consent of Cowen, except as required by state or federal securities law, any governmental authority or stock exchange rule, in which case MCAD shall provide Cowen with prior written notice of such disclosure permitted under hereunder. 

11. Non-Reliance and Exculpation. Cowen acknowledges that it is not relying upon, and has not
relied upon, any statement, representation or warranty made by any person, firm or corporation, other than the statements, representations and warranties of MCAD expressly contained in Section 5 of this Subscription
Agreement, in making its investment or decision to invest in MCAD. Cowen acknowledges and agrees that none of (i) any other investor pursuant to any other subscription agreement related to the private placement of the Shares (including the
investor’s respective affiliates or any control persons, officers, directors, employees, partners, agents or representatives of any of the foregoing), (ii) any other party to the Transaction Agreement, or (iii) any affiliates, or any
control persons, officers, directors, employees, partners, agents or representatives of any of MCAD, the Company or any other party to the Transaction Agreement shall be liable to Cowen, pursuant to this Subscription Agreement or any other
subscription agreement related to the private placement of the Shares, the negotiation hereof or thereof or the subject matter hereof or thereof, or the transactions contemplated hereby or thereby, for any action heretofore or hereafter taken or
omitted to be taken by any of them in connection with the purchase of the Shares. 
 12. Press Releases. All press releases or other
public communications relating to the transactions contemplated hereby between MCAD and Cowen, and the method of the release for publication thereof, shall prior to the Closing be subject to the prior approval of (i) MCAD, and (ii) to the
extent such press release or public communication references Cowen by name, Cowen, which approval shall not be unreasonably withheld or conditioned; provided that neither MCAD nor Cowen shall be required to obtain consent pursuant to this
Section 12 to the extent any proposed release or statement is substantially equivalent to the information that has previously been made public without breach of the obligation under this
Section 12. The restriction in this Section 12 shall not apply to the extent the public announcement is required by applicable securities law, any governmental authority or stock exchange rule;
provided, that in such an event, the applicable party shall use its commercially reasonable efforts to consult with the other party in advance as to its form, content and timing. 

13. Notices. All notices and other communications among the parties shall be in writing and shall be deemed to have been duly given
(i) when delivered in person, (ii) when delivered after posting in the United States mail having been sent registered or certified mail return receipt requested, postage prepaid, (iii) when delivered by FedEx or other nationally
recognized overnight delivery service, or (iv) when delivered by email (in each case in this clause (iv), solely if receipt is confirmed, but excluding any automated reply, such as an out-of-office notification), addressed as follows: 
 If to Cowen, to the address provided on Cowen’s
signature page hereto. 
 If to Mountain Crest Acquisition Corp. II., to: 

311 West 43rd Street 
 12th
Floor 
 New York, NY 10036 

Attention:         Suying Liu 

Email:               sliu@mcacquisition.com 

  
 14 

 with copies to (which shall not constitute notice), to: 

Loeb & Loeb LLP 
 345
Park Avenue 
 New York, NY 10154 

Attention:         Mitchell S. Nussbaum, Esq. 

Email:               mnussbaum@loeb.com 

and 
 Better Therapeutics, Inc.

 548 Market St #49404 
 San
Francisco, CA 94104 
 Attention:         Kevin Appelbaum, Chief Executive Officer 

Email:               kevin@bettertx.com 

and 
 Goodwin Procter LLP 

100 Northern Avenue 
 Boston, MA
02210 
 Attention:         Arthur McGivern & Heidi Mayon 

Email:               AMcGivern@goodwinlaw.com &
HMayon@goodwinlaw.com 
 or to such other address or addresses as the parties may from time to time designate in writing. Copies delivered
solely to outside counsel shall not constitute notice. 
 [SIGNATURE PAGES FOLLOW] 

  
 15 

 IN WITNESS WHEREOF, Cowen has executed or caused this Subscription Agreement to be
executed by its duly authorized representative as of the date set forth below. 
  

							
	Cowen and Company, LLC	 		 		 	State/Country of Formation or Domicile:
				
	By: /s/ Rob
Weir                                         
                                 	 		 		 	
	Name: Rob Weir	 		 		 	Delaware
	Title: Managing Director	 		 		 	
				
	Name in which Shares are to be registered (if different): Cowen Investments II LLC	 		 		 	Date: October 28, 2021
				
	Cowen Investments II LLC’s EIN: 27-0423711	 		 		 	
				
	Business Address-Street:599 Lexington Ave.	 		 		 	Mailing Address-Street (if different):
				
	City, State, Zip: New York, NY 10022	 		 		 	City, State, Zip:
				
	Attn: Bradley Friedman	 		 		 	Attn:                                     
                                         
                                  
				
	Telephone No.:646-562-1923	 		 		 	Telephone No.:
	 Facsimile No.:

E-mail: Bradley.friedman@cowen.com
	 		 		 	 Facsimile No.:

E-mail:

				
	Number of Shares subscribed for: 70,000	 		 		 	
				
	Aggregate Subscription Amount: $700,000	 		 		 	Price Per Share: $10.00

 [Signature Page to Subscription Agreement] 

 IN WITNESS WHEREOF, MCAD has accepted this Subscription Agreement as of the date set forth
below. 
  

			
	MOUNTAIN CREST ACQUISITION CORP. II 
		
	By:	 	 /s/ Suying Liu

		 	Name: Suying Liu
		 	Title: Chief Executive Officer

 Date: October 28, 2021 

[Signature Page to Subscription Agreement] 

 SCHEDULE A 

ELIGIBILITY REPRESENTATIONS OF THE INVESTOR 
  

	A.	 QUALIFIED INSTITUTIONAL BUYER STATUS 

(Please check the applicable subparagraphs): 
  

	☐	 We are a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act).

  

	B.	 INSTITUTIONAL ACCREDITED INVESTOR STATUS 

(Please check the applicable subparagraphs): 
  

	1.	 ☒ We are an “accredited investor” (within the meaning of Rule 501(a) under the Securities Act)
or an entity in which all of the equity holders are accredited investors within the meaning of Rule 501(a) under the Securities Act, and have marked and initialed the appropriate box on the following page indicating the provision under which we
qualify as an “accredited investor.” 

  

	2.	 ☒☐ We are not a natural person. 

 

	C.	 AFFILIATE STATUS 

(Please check the applicable box) SUBSCRIBER: 
  

	 	☐	 is: 

  

	 	☒☐	 is not: 

an “affiliate” (as defined in Rule 144 under the Securities Act) of the Company or acting on behalf of an affiliate of the Company.

 Rule 501(a), in relevant part, states that an “accredited investor” shall mean any person who comes within any of the below listed
categories, or who the issuer reasonably believes comes within any of the below listed categories, at the time of the sale of the securities to that person. The Investor has indicated, by marking and initialing the appropriate box below, the
provision(s) below which apply to the Investor and under which the Investor accordingly qualifies as an “accredited investor.” 
  

	☐☒	 Any bank, registered broker or dealer, insurance company, registered investment company, business development
company, or small business investment company; 

  

	☐	 Any plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of
a state or its political subdivisions for the benefit of its employees, if such plan has total assets in excess of $5,000,000; 

  

	☐	 Any employee benefit plan, within the meaning of the Employee Retirement Income Security Act of 1974, if a
bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5,000,000; 

  

	☐	 Any organization described in Section 501(c)(3) of the Internal Revenue Code, corporation, similar
business trust, or partnership, not formed for the specific purpose of acquiring the securities offered, with total assets in excess of $5,000,000; 

  

	☐	 Any trust with assets in excess of $5,000,000, not formed to acquire the securities offered, whose purchase is
directed by a sophisticated person; or 

  

	☐	 Any entity in which all of the equity owners are accredited investors meeting one or more of the above tests.

 [Schedule A to Subscription Agreement] 

 This page should be completed by the Investor 

and constitutes a part of the Subscription Agreement. 

[Schedule A to Subscription Agreement]EX-10.1

  Exhibit 10.1

  TALOS ENERGY INC.

  2021 LONG TERM INCENTIVE PLAN

  RESTRICTED STOCK UNIT GRANT NOTICE

  Pursuant to the terms and conditions of the Talos Energy Inc. 2021 Long Term Incentive Plan, as amended from time to time (the “Plan”), Talos Energy Inc. (the “Company”) hereby grants to the individual listed below (“you” or the “Director”) the number of Restricted Stock Units (the “RSUs”) set forth below.  This award of RSUs (this “Award”) is subject to the terms and conditions set forth herein and in the Restricted Stock Unit Agreement attached hereto as Exhibit A (the “Agreement”) and the Plan, each of which is incorporated herein by reference. Capitalized terms used but not defined herein shall have the meanings set forth in the Plan.

  		
	Director:
	[_________________]

	Date of Grant:
	[_________________]

	Total Number of Restricted Stock Units:
	[_________________]

	Vesting Schedule:
	[_________________]

  By your signature below, you agree to be bound by the terms and conditions of the Plan, the Agreement and this Restricted Stock Unit Grant Notice (this “Grant Notice”). You acknowledge that you have reviewed the Agreement, the Plan and this Grant Notice in their entirety and fully understand all provisions of the Agreement, the Plan and this Grant Notice.  You hereby agree to accept as binding, conclusive and final all decisions or interpretations of the Committee regarding any questions or determinations that arise under the Agreement, the Plan or this Grant Notice.  This Grant Notice may be executed in one or more counterparts (including portable document format (.pdf) and facsimile counterparts), each of which shall be deemed to be an original, but all of which together shall constitute one and the same agreement.

  [Signature Page Follows]

   

   

  

   

   

  IN WITNESS WHEREOF, the Company has caused this Grant Notice to be executed by an officer thereunto duly authorized, and the Director has executed this Grant Notice, effective for all purposes as provided above.

  TALOS ENERGY INC.

   

  By:

  Name:

  Title:

   

  DIRECTOR

   

  Name: 

   

  	 

   

  						 

   

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  EXHIBIT A

  RESTRICTED STOCK UNIT AGREEMENT

  This Restricted Stock Unit Agreement (together with the Grant Notice to which this Agreement is attached, this “Agreement”) is made as of the Date of Grant set forth in the Grant Notice to which this Agreement is attached by and between Talos Energy Inc., a Delaware corporation (the “Company”), and [_________________] (the “Director”). Capitalized terms used but not specifically defined herein shall have the meanings specified in the Plan or the Grant Notice.

  1.Award.  In consideration of the Director’s service to the Company or its Affiliates and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, effective as of the Date of Grant set forth in the Grant Notice (the “Date of Grant”), the Company hereby grants to the Director the number of RSUs set forth in the Grant Notice on the terms and conditions set forth in the Grant Notice, this Agreement and the Plan, which is incorporated herein by reference as a part of this Agreement. In the event of any inconsistency between the Plan and this Agreement, the terms of the Plan shall control.  To the extent vested, each RSU represents the right to receive one share of Stock, subject to the terms and conditions set forth in the Grant Notice, this Agreement and the Plan.  Unless and until the RSUs have become vested in the manner set forth in the Grant Notice, the Director will have no right to receive any Stock or other payments in respect of the RSUs.  Prior to settlement of this Award, the RSUs and this Award represent an unsecured obligation of the Company, payable only from the general assets of the Company.

  2.Vesting of RSUs.  

  a.Except as otherwise set forth in Section 2(b), the RSUs shall vest in accordance with the vesting schedule set forth in the Grant Notice.  Unless and until the RSUs have vested in accordance with such vesting schedule, the Director will have no right to receive any dividends or other distribution with respect to the RSUs. In the event of the termination of the Director’s service relationship prior to the vesting of all of the RSUs (but after giving effect to any accelerated vesting pursuant to this Section 2), any unvested RSUs (and all rights arising from such RSUs and from being a holder thereof) will terminate automatically without any further action by the Company and will be forfeited without further notice and at no cost to the Company.

  [_________________]. 

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  3.Dividend Equivalents.  In the event that the Company declares and pays a dividend in respect of its outstanding shares of Stock and, on the record date for such dividend, the Director holds RSUs granted pursuant to this Agreement that have not been settled, the Company shall record the amount of such dividend in a bookkeeping account and pay to the Director an amount in cash equal to the cash dividends the Director would have received if the Director was the holder of record, as of such record date, of a number of shares of Stock equal to the number of RSUs held by the Director that have not been settled as of such record date, such payment to be made on the date on which such RSUs are settled in accordance with Section 4.  For purposes of clarity, if the RSUs (or any portion thereof) are forfeited by the Director pursuant to the terms of this Agreement, then the Director shall also forfeit the Dividend Equivalents, if any, accrued with respect to such forfeited RSUs.  No interest will accrue on the Dividend Equivalents between the declaration and payment of the applicable dividends and the settlement of the Dividend Equivalents.

  4.Settlement of RSUs.  As soon as administratively practicable following the vesting of RSUs pursuant to Section 2, but in no event later than 30 days after such vesting date, the Company shall deliver to the Director (i) an amount of cash equal to the Fair Market Value of a number of shares of Stock equal to 40% of the RSUs subject to this Award and (ii) a number of shares of Stock equal to 60% of the RSUs subject to this Award. All shares of Stock issued hereunder shall be delivered either by delivering one or more certificates for such shares to the Director or by entering such shares in book-entry form, as determined by the Committee in its sole discretion.  The value of shares of Stock or any cash shall not bear any interest owing to the passage of time.  Neither this Section 4 nor any action taken pursuant to or in accordance with this Agreement shall be construed to create a trust or a funded or secured obligation of any kind. Notwithstanding the preceding provisions of this Section 4, the Director may elect to defer the delivery of the cash and shares of Stock in settlement of the RSUs pursuant to the Restricted Stock Units Deferral Election Form attached hereto as Exhibit B.  Any such deferral election shall be made in compliance with such rules and procedures as the Committee prescribes from time to time.  

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  5.Tax Withholding.  To the extent that the receipt, vesting or settlement of this Award results in compensation income or wages to the Director for federal, state, local and/or foreign tax purposes, the Director shall make arrangements satisfactory to the Company for the satisfaction of obligations for the payment of withholding taxes and other tax obligations relating to this Award, which arrangements include the delivery of cash or cash equivalents, Stock (including previously owned Stock, net settlement, a broker-assisted sale, or other cashless withholding or reduction of the amount of shares otherwise issuable or delivered pursuant to this Award), other property, or any other legal consideration the Committee deems appropriate. If such tax obligations are satisfied through net settlement or the surrender of previously owned Stock, the maximum number of shares of Stock that may be so withheld (or surrendered) shall be the number of shares of Stock that have an aggregate Fair Market Value on the date of withholding or surrender equal to the aggregate amount of such tax liabilities determined based on the greatest withholding rates for federal, state, local and/or foreign tax purposes, including payroll taxes, that may be utilized without creating adverse accounting treatment for the Company with respect to this Award, as determined by the Committee. The Director acknowledges that there may be adverse tax consequences upon the receipt, vesting or settlement of this Award or disposition of the underlying shares and that the Director has been advised, and hereby is advised, to consult a tax advisor. The Director represents that the Director is in no manner relying on the Board, the Committee, the Company or an Affiliate or any of their respective managers, directors, officers, employees or authorized representatives (including, without limitation, attorneys, accountants, consultants, bankers, lenders, prospective lenders and financial representatives) for tax advice or an assessment of such tax consequences.

  6.Non-Transferability.  During the lifetime of the Director, the RSUs may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution, unless and until the shares of Stock underlying the RSUs have been issued, and all restrictions applicable to such shares have lapsed.  Neither the RSUs nor any interest or right therein shall be liable for the debts, contracts or engagements of the Director or his or her successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means, whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect, except to the extent that such disposition is permitted by the preceding sentence.

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  7.Compliance with Applicable Law.  Notwithstanding any provision of this Agreement to the contrary, the issuance of shares of Stock hereunder will be subject to compliance with all applicable requirements of applicable law with respect to such securities and with the requirements of any stock exchange or market system upon which the Stock may then be listed.  No shares of Stock will be issued hereunder if such issuance would constitute a violation of any applicable law or regulation or the requirements of any stock exchange or market system upon which the Stock may then be listed.  In addition, shares of Stock will not be issued hereunder unless (a) a registration statement under the Securities Act is in effect at the time of such issuance with respect to the shares to be issued or (b) in the opinion of legal counsel to the Company, the shares to be issued are permitted to be issued in accordance with the terms of an applicable exemption from the registration requirements of the Securities Act.  The inability of the Company to obtain from any regulatory body having jurisdiction the authority, if any, deemed by the Company’s legal counsel to be necessary for the lawful issuance and sale of any shares of Stock hereunder will relieve the Company of any liability in respect of the failure to issue such shares as to which such requisite authority has not been obtained.  As a condition to any issuance of Stock hereunder, the Company may require the Director to satisfy any requirements that may be necessary or appropriate to evidence compliance with any applicable law or regulation and to make any representation or warranty with respect to such compliance as may be requested by the Company.

  8.Legends.  If a stock certificate is issued with respect to shares of Stock issued hereunder, such certificate shall bear such legend or legends as the Committee deems appropriate in order to reflect the restrictions set forth in this Agreement and to ensure compliance with the terms and provisions of this Agreement, the rules, regulations and other requirements of the SEC, any applicable laws or the requirements of any stock exchange on which the Stock is then listed.  If the shares of Stock issued hereunder are held in book-entry form, then such entry will reflect that the shares are subject to the restrictions set forth in this Agreement.

  9.Rights as a Stockholder. The Director shall have no rights as a stockholder of the Company with respect to any shares of Stock that may become deliverable hereunder unless and until the Director has become the holder of record of such shares of Stock, and no adjustments shall be made for dividends in cash or other property, distributions or other rights in respect of any such shares of Stock, except as otherwise specifically provided for in the Plan or this Agreement.

  10.Satisfaction of Claims.  Any issuance or transfer of shares of Stock or other property to the Director or the Director’s legal representative, heir, legatee or distributee, in accordance with this Agreement shall be in full satisfaction of all claims of such Person hereunder.  

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  11.No Right to Continued Service or Awards. Nothing in the adoption of the Plan, nor the award of the RSUs thereunder pursuant to the Grant Notice and this Agreement, shall confer upon the Director the right to a continued service relationship with the Company or any Affiliate, or any other entity, or affect in any way the right of the Company or any such Affiliate, or any other entity to terminate such service relationship at any time. The grant of the RSUs is a one-time benefit and does not create any contractual or other right to receive a grant of Awards or benefits in lieu of Awards in the future. Any future Awards will be granted at the sole discretion of the Company.

  12.Legal and Equitable Remedies. The Director acknowledges that a violation or attempted breach of any of the Director's covenants and agreements in this Agreement will cause such damage as will be irreparable, the exact amount of which would be difficult to ascertain and for which there will be no adequate remedy at law, and accordingly, the parties hereto agree that the Company and its Affiliates shall be entitled as a matter of right to an injunction issued by any court of competent jurisdiction, restraining the Director or the affiliates, partners or agents of the Director from such breach or attempted violation of such covenants and agreements, as well as to recover from the Director any and all costs and expenses sustained or incurred by the Company or any Affiliate in obtaining such an injunction, including, without limitation, reasonable attorneys’ fees. The parties to this Agreement agree that no bond or other security shall be required in connection with such injunction. Any exercise by either of the parties to this Agreement of its rights pursuant to this Section 12 shall be cumulative and in addition to any other remedies to which such party may be entitled. 

  13.Notices.  All notices and other communications under this Agreement shall be in writing and shall be delivered to the parties at the following addresses (or at such other address for a party as shall be specified by like notice):

  If to the Company, unless otherwise designated by the Company in a written notice to the Director (or other holder):

  Talos Energy Inc.

  Attn: Executive Vice President and General Counsel

  333 Clay Street, Suite 3300

  Houston, Texas 77002

   

  	If to the Director, at the Director’s last known address on filed with the Company. 

  Any notice that is delivered personally or by overnight courier or telecopier in the manner provided herein shall be deemed to have been duly given to the Director when it is mailed by the Company or, if such notice is not mailed to the Director, upon receipt by the Director. Any notice that is addressed and mailed in the manner herein provided shall be conclusively presumed to have been given to the party to whom it is addressed at the close of business, local time of the recipient, on the fourth day after the day it is so placed in the mail. 

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  14.Consent to Electronic Delivery; Electronic Signature.  In lieu of receiving documents in paper format, the Director agrees, to the fullest extent permitted by law, to accept electronic delivery of any documents that the Company may be required to deliver (including, but not limited to, prospectuses, prospectus supplements, grant or award notifications and agreements, account statements, annual and quarterly reports and all other forms of communications) in connection with this and any other Award made or offered by the Company. Electronic delivery may be via a Company electronic mail system or by reference to a location on a Company intranet to which the Director has access. The Director hereby consents to any and all procedures the Company has established or may establish for an electronic signature system for delivery and acceptance of any such documents that the Company may be required to deliver, and agrees that his or her electronic signature is the same as, and shall have the same force and effect as, his or her manual signature.

  15.Agreement to Furnish Information.  The Director agrees to furnish to the Company all information requested by the Company to enable it to comply with any reporting or other requirement imposed upon the Company by or under any applicable statute or regulation.

  16.Entire Agreement; Amendment.  This Agreement constitutes the entire agreement of the parties with regard to the subject matter hereof, and contains all the covenants, promises, representations, warranties and agreements between the parties with respect to the RSUs granted hereby; provided ̧ however, that the terms of this Agreement shall not modify and shall be subject to the terms and conditions of any employment, consulting and/or severance agreement between the Company (or an Affiliate or other entity) and the Director in effect as of the date a determination is to be made under this Agreement.  Without limiting the scope of the preceding sentence, except as provided therein, all prior understandings and agreements, if any, among the parties hereto relating to the subject matter hereof are hereby null and void and of no further force and effect.  The Committee may, in its sole discretion, amend this Agreement from time to time in any manner that is not inconsistent with the Plan; provided, however, that except as otherwise provided in the Plan or this Agreement, any such amendment that materially reduces the rights of the Director shall be effective only if it is in writing and signed by both the Director and an authorized officer of the Company.

  17.Severability and Waiver.  If a court of competent jurisdiction determines that any provision of this Agreement is invalid or unenforceable, then the invalidity or unenforceability of such provision shall not affect the validity or enforceability of any other provision of this Agreement, and all other provisions shall remain in full force and effect. Waiver by any party of any breach of this Agreement or failure to exercise any right hereunder shall not be deemed to be a waiver of any other breach or right. The failure of any party to take action by reason of such breach or to exercise any such right shall not deprive the party of the right to take action at any time while or after such breach or condition giving rise to such rights continues.

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  18.Clawback.  Notwithstanding any provision in the Grant Notice, this Agreement or the Plan to the contrary, to the extent required by (a) applicable law, including, without limitation, the requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, any SEC rule or any applicable securities exchange listing standards and/or (b) any policy that may be adopted or amended by the Board from time to time, all shares of Stock issued hereunder shall be subject to forfeiture, repurchase, recoupment and/or cancellation to the extent necessary to comply with such law(s) and/or policy.

  19.Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of DELAWARE applicable to contracts made and to be performed therein, exclusive of the conflict of laws provisions of DELAWARE LAW.

  20.Successors and Assigns.  The Company may assign any of its rights under this Agreement without the Director’s consent.  This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company.  Subject to the restrictions on transfer set forth herein and in the Plan, this Agreement will be binding upon the Director and the Director's beneficiaries, executors, administrators and the Person(s) to whom the RSUs may be transferred by will or the laws of descent or distribution.

  21.Headings. Headings are for convenience only and are not deemed to be part of this Agreement.

  22.Counterparts.  The Grant Notice may be executed in one or more counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument.  Delivery of an executed counterpart of the Grant Notice by facsimile or portable document format (.pdf) attachment to electronic mail shall be effective as delivery of a manually executed counterpart of the Grant Notice.

  23.Section 409A. Notwithstanding anything herein or in the Plan to the contrary, the RSUs granted pursuant to this Agreement are intended to be exempt from the applicable requirements of the Nonqualified Deferred Compensation Rules and shall be limited, construed and interpreted in accordance with such intent. Nevertheless, to the extent that the Committee determines that the RSUs may not be exempt from the Nonqualified Deferred Compensation Rules, then, if the Director is deemed to be a “specified employee” within the meaning of the Nonqualified Deferred Compensation Rules, as determined by the Committee, at a time when the Director becomes eligible for settlement of the RSUs upon his “separation from service” within the meaning of the Nonqualified Deferred Compensation Rules, then to the extent necessary to prevent any accelerated or additional tax under the Nonqualified Deferred Compensation Rules, such settlement will be delayed until the earlier of: (a) the date that is six months following the Director’s separation from service and (b) the Director’s death.  Notwithstanding the foregoing, the Company and its Affiliates make no representations that the RSUs provided under this Agreement are exempt from or compliant with the Nonqualified Deferred Compensation Rules and in no event shall the Company or any Affiliate be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by the Director on account of non-compliance with the Nonqualified Deferred Compensation Rules.

   

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  EXHIBIT B

  Restricted stock Units

  DEFERRAL ELECTION FORM

   

  Please complete this Restricted Stock Units Deferral Election Form (the “Deferral Election Form”) and return a signed copy to the Executive Vice President and General Counsel no later than 5:00 pm CT on [_________________] (the “Election Deadline”).  

   

  Name:	______________________________________

   

  NOTE: This Deferral Election Form will apply to all grants of Restricted Stock Units (the “RSUs”) you may receive from Talos Energy Inc. (the “Company”) until such time as a new signed Deferral Election Form is received by the Company.  Any new signed Deferral Election Form must be received by the Company no later than December 31 of the calendar year preceding the calendar in which it is intended to apply.

   

  1.	Settlement of DSUs

   

  In making this election, the following rules apply: 

   

  Unless otherwise specified, capitalized terms used but not defined in this Deferral Election Form shall have the meaning attributed to them in the Restricted Stock Unit Grant Notice (the “Grant Notice”), the Restricted Stock Unit Agreement (the “Agreement”) or the Talos Energy Inc. 2021 Long Term Incentive Plan, as amended from time to time (the “Plan”), as applicable.  

   

  You must complete this Deferral Election Form by the Election Deadline and select a payment date on which you will receive the cash and shares of Stock underlying the RSUs (and cash in respect of any Dividend Equivalents). You must complete this Deferral Election Form even if you want the cash and shares of Stock underlying your RSUs (and cash in respect of any Dividend Equivalents) to be paid to you at the default time specified in Section 4 of the Agreement (i.e., within 30 days following the vesting date).  

   

  Notwithstanding the foregoing, if you fail to complete and timely submit this Deferral Election Form, the cash and shares of Stock underlying your RSUs (and cash in respect of any Dividend Equivalents) will be paid to you at the default time specified in Section 4 of the Agreement. 

   

   

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  2.	Deferral Election

   

  I hereby irrevocably elect to receive the cash and shares of Stock issuable pursuant to any RSUs (and any associated Dividend Equivalents) granted to me in [____] and any future calendar years, until such time as a new signed Deferral Election Form is received by the Company, upon the earliest to occur of my death, “disability” (as defined in the Nonqualified Deferred Compensation Rules), a Change in Control, a “separation from service” (as defined in the Nonqualified Deferred Compensation Rules) or (select only one of the following): 

   

  	(a)	The default time specified in the Agreement.

  	(b)	The date I incur a separation from service (as defined in the Nonqualified Deferred Compensation Rules).

  	(c)	The fifth anniversary of the vesting of the RSUs. 

  3. 	Signature

   

  I understand that my rights to the cash and shares of Stock underlying the RSUs (and cash in respect of any Dividend Equivalents) are subject to the rights of the general creditors of the Company in the event of its insolvency, and cash in respect of any Dividend Equivalents will not bear any interest owing to the passage of time.  I further understand that this Deferral Election Form will become effective and irrevocable as of 5:00 pm CT on [_________________], which is the Election Deadline. Once I have elected the time of settlement of my RSUs by submitting this Deferral Election Form, I understand that (a) the settlement election will be irrevocable and (b) the settlement election will control over any contrary payment time or event specified in Section 4 of the Agreement.  I acknowledge that, if I do not complete and timely submit this Deferral Election Form, the cash and shares of Stock underlying my RSUs (and cash in respect of any Dividend Equivalents) will be paid to me at the default time specified in the Agreement.

   

  By executing this Deferral Election Form, I hereby acknowledge my understanding of, and agreement with, the terms and provisions set forth in this Deferral Election Form, the Grant Notice, the Agreement and the Plan.  

   

   

  DIRECTOR

   

  Name:

  Date:

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