SEC Contract Filing

Filing Date: 2021-03-02

Document Content:
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<TYPE>EX-10.3
<SEQUENCE>7
<FILENAME>d132700dex103.htm
<DESCRIPTION>EX-10.3
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<TITLE>EX-10.3</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.3 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>REGISTRATION AND SHAREHOLDER RIGHTS AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS REGISTRATION AND SHAREHOLDER RIGHTS AGREEMENT (this &#147;<B><U>Agreement</U></B>&#148;) is entered into as of March&nbsp;2, 2021, by Leo
Holdings III Corp, a Cayman Islands exempted company (the &#147;<B><U>Company</U></B>&#148;), and. Leo Investors III LP Limited Partnership, a Cayman Islands exempted limited partnership (the &#147;<B><U>Sponsor</U></B>&#148; and, together with any
person or entity who hereafter becomes a party to this Agreement pursuant to <U>Section</U><U></U><U>&nbsp;6.2</U> of this Agreement, a &#147;<B><U>Holder</U></B>&#148; and collectively, the &#147;<B><U>Holders</U></B>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Sponsor owns an aggregate of 6,900,000 Class&nbsp;B ordinary shares, par value $0.0001 per share (the &#147;<B><U>Founder
Shares</U></B>&#148;) of the Company; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Founder Shares will automatically convert into the Company&#146;s Class&nbsp;A
ordinary shares, par value $0.0001 per share (the &#147;<B><U>Ordinary Shares</U></B>&#148;), at the time of the initial Business Combination on a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">one-for-one</FONT></FONT> basis,
subject to adjustment, on the terms and conditions provided in the Company&#146;s amended and restated memorandum and articles of association, as the same may be amended from time to time; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, on February&nbsp;25, 2021, the Company and the Sponsor entered into that certain Private Placement Warrants Purchase Agreement,
pursuant to which the Sponsor agreed to purchase 4,866,667 Private Placement Warrants (or up to 5,346,667 Private Placement Warrants if the over-allotment option in connection with the Company&#146;s initial public offering is exercised in full) in
a private placement transaction occurring simultaneously with the closing of the Company&#146;s initial public offering; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the
Company and the Sponsor desire to enter into this Agreement, pursuant to which the Company shall grant the Sponsor certain registration rights with respect to certain securities of the Company, as set forth in this Agreement; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>DEFINITIONS</U>. The following
capitalized terms used herein have the following meanings: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<B><U>Adverse Disclosure</U></B>&#148; is defined in
<U>Section</U><U></U><U>&nbsp;3.6</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<B><U>Agreement</U></B>&#148; means this Agreement, as amended, restated, supplemented, or
otherwise modified from time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<B><U>Board</U></B>&#148; is defined in <U>Section</U><U></U><U>&nbsp;3.1.1</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<B><U>Business Combination</U></B>&#148; means the acquisition of direct or indirect ownership through a merger, share exchange, asset
acquisition, share purchase, reorganization or other similar type of transaction, of one or more businesses or entities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<B><U>Commission</U></B>&#148; means the U.S. Securities and Exchange Commission, or any other federal agency then administering the
Securities Act or the Exchange Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<B><U>Company</U></B>&#148; is defined in the preamble to this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<B><U>Demand Registration</U></B>&#148; is defined in <U>Section</U><U></U><U>&nbsp;2.1.1</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<B><U>Demanding Holder</U></B>&#148; is defined in <U>Section</U><U></U><U>&nbsp;2.1.1</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<B><U>Exchange Act</U></B>&#148; means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission
promulgated thereunder, all as the same shall be in effect at the time. </P>
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