SEC Contract Filing

Filing Date: 2021-03-09

Document Content:
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<TYPE>EX-10.3
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<FILENAME>d115991dex103.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:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>REGISTRATION 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 RIGHTS AGREEMENT (this &#147;<U>Agreement</U>&#148;), dated as of March&nbsp;3, 2021, is made and entered into by and among
Khosla Ventures Acquisition Co., a Delaware corporation (the &#147;<U>Company</U>&#148;), Khosla Ventures SPAC Sponsor LLC, a Delaware limited liability company (the &#147;<U>Sponsor</U>&#148;), and the undersigned parties listed under Holder on the
signature pages hereto (each such party, together with the Sponsor and any person or entity who hereafter becomes a party to this Agreement pursuant to <U>Section</U><U></U><U>&nbsp;5.02</U> of this Agreement, a &#147;<U>Holder</U>&#148; and
collectively the &#147;<U>Holders</U>&#148;). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RECITALS </B></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 have entered into that certain Securities Subscription Agreement, dated as of January&nbsp;19, 2021 (the
&#147;<U>Subscription Agreement</U>&#148;), pursuant to which the Sponsor purchased an aggregate of 5,000,000 shares of the Company&#146;s Class&nbsp;B common stock, par value $0.0001 per share (the &#147;<U>Class</U><U></U><U>&nbsp;B Founder
Shares</U>&#148;) and 5,000,000 shares of the Company&#146;s Class&nbsp;K common stock, par value $0.0001 per share (the &#147;<U>Class</U><U></U><U>&nbsp;K Founder Shares</U>&#148; and, together with the Class&nbsp;B Founder Shares, the
&#147;<U>Founder Shares</U>&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Founder Shares are convertible into shares of the Company&#146;s Class&nbsp;A common
stock, par value $0.0001 per share (the &#147;<U>Class</U><U></U><U>&nbsp;A Common Stock</U>&#148;), on the terms and conditions provided in the Company&#146;s amended and restated certificate of incorporation; </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 have entered into that certain Private Placement Shares Purchase Agreement, dated as of March&nbsp;3,
2021, pursuant to which the Sponsor agreed to purchase an aggregate of 900,000 shares of Class&nbsp;A common stock (or up to 990,000 shares of Class&nbsp;A common stock if the over-allotment option in connection with the Company&#146;s initial
public offering is exercised in full) (the &#147;<U>Private Placement Shares</U>&#148;), 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 Holders desire to enter into this Agreement, pursuant to which the Company shall grant the Holders 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 representations, covenants and agreements contained herein, and certain other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as
follows: </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE I. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DEFINITIONS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;1.01 <U>Definitions</U>. The terms defined in this <U>Article I</U> shall, for all purposes of this Agreement, have the
respective meanings set forth below: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Adverse Disclosure</U>&#148; shall mean any public disclosure of material <FONT
STYLE="white-space:nowrap">non-public</FONT> information, which disclosure, in the good faith judgment of the Chief Executive Officer or principal financial officer of the Company, after consultation with counsel to the Company, (i)&nbsp;would be
required to be made in any Registration Statement or Prospectus in order for the applicable Registration Statement or Prospectus not to contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
contained therein (in the case of any prospectus and any preliminary prospectus, in the light of the circumstances under which they were made) not misleading, (ii)&nbsp;would not be required to be made at such time if the Registration Statement were
not being filed, and (iii)&nbsp;the Company has a bona fide business purpose for not making such information public. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Agreement</U>&#14