Exhibit 10.10




 


 


SECURITIES ASSIGNMENT AGREEMENT


 


This Securities Assignment
Agreement is dated as of October 17, 2013 (this “Assignment”), by and among Levy Acquisition Sponsor, LLC,
a Delaware limited liability company (the “Seller”), and the parties identified on the signature page hereto
(each a “Buyer” and collectively, the “Buyers”).


 


WHEREAS,
on the terms and subject to the conditions set forth in this Assignment, the Seller wishes to assign to the Buyers an
aggregate of 69,000 shares (the “Shares”) of common stock (“Common Stock”) and an
aggregate of 60,000 private placement warrants to purchase shares of Common Stock, each with an exercise price of $11.50
per share (the “Warrants”), of Levy Acquisition Corp. (the “Company”),and the Buyers
wish to purchase and receive the Shares and the Warrants from the Seller.


 


NOW, THEREFORE,
in consideration of the premises, representations, warranties and the mutual covenants contained in this Assignment, and for other
good and valuable consideration, the receipt, sufficiency and adequacy of which are hereby acknowledged, the parties hereto, intending
to be legally bound, hereby agree as follows:


 


Section 1 Assignment
of Shares. Seller hereby assigns 17,250 Shares to each of the Buyers, of which an aggregate of 9,000 Shares shall be subject
to forfeiture by the Buyers on a pro rata basis to the extent the underwriters’ over-allotment option (as described in the
Company’s registration statement on Form S-1, as amended (File Number 333-189498) (the “Registration Statement”),
under the Securities Act of 1933, as amended (the “Act”), relating to an underwritten public offering by the
Company (the “Public Offering”)) is not exercised in full. The Buyers have paid to the Seller an aggregate amount
of Four Hundred Dollars ($400.00) (the “Purchase Price”), in consideration of the assignment
of the Shares. Twenty Five Percent (25%) of the shares of Common Stock (the “Founder Earnout Shares”) assigned
hereby will be subject to forfeiture by the Buyers on the fifth anniversary of the Company’s initial business combination
unless following the Company’s initial business combination the last sale price of the Company’s Common Stock equals
or exceeds $13.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for
any 20 trading days within any 30-trading day period or the company completes a liquidation, merger, stock exchange or other similar
transaction that results in all of its stockholders having the right to exchange their shares of common stock for consideration
in cash, securities or other property which equals or exceeds $13.00 per
share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like).


 


Section 2 Assignment
of Warrants. Seller hereby agrees to assign 15,000 Warrants to each of the Buyers, immediately following, and conditional upon,
the closing of the Public Offering and the private placement of Warrants to be made by the Company to the Seller simultaneously
with the Public Offering. The Sellers shall assign the Warrants to the Buyers as compensation for such Buyers’ service as
a director of the Company and the Buyers will pay no consideration for the assignment of the Warrants.


 


Section 3 No Conflicts.
Each party represents and warrants that neither the execution and delivery of this Assignment by such, nor the consummation or
performance by such party of any of the transactions contemplated hereby, will with or without notice or lapse of time, constitute,
create or result in a breach or violation of, default under, loss of benefit or right under or acceleration of performance of any
obligation required under any agreement to which it is a party.


 






    	 



    	 



    




 


Section 4 Investment
Representations. Each Buyer represents and warrants, with respect to himself only, as follows: such Buyer hereby acknowledges
that an investment in the Shares and Warrants involves certain significant risks. Such Buyer has no need for liquidity in its investment
in the Shares or Warrants for the foreseeable future and is able to bear the risk of that investment for an indefinite period.
Such Buyer acknowledges and hereby agrees that the Shares and Warrants will not be transferable under any circumstances unless
registered by the Company in accordance with federal and state securities laws or sold in compliance with an exemption under such
laws and such transfer complies with all applicable lock-up restrictions on such Buyer (as described in the Company’s Registration
Statement relating to the Public Offering). Such Buyer further understands that any certificates evidencing the Shares or Warrants
bear a legend referring to the foregoing transfer restrictions.


 


The Shares and Warrants
are being acquired solely for such Buyer’s own account, for investment purposes only, and are not being purchased with a
view to or for the resale, distribution, subdivision or fractionalization thereof; and such Buyer has no present plans to enter
into any contract, undertaking, agreement or arrangement for such resale, distribution, subdivision or fractionalization. Such
Buyer has been given the opportunity to (i) ask questions of and receive answers from the Seller and the Company concerning the
terms and conditions of the Shares, and the business and financial condition of the Company and (ii) obtain any additional information
that the Seller possesses or can acquire without unreasonable effort or expense that is necessary to assist such Buyer in evaluating
the advisability of the purchase of the Shares and Warrants and an investment in the Company. Such Buyer is not relying on any
oral representation made by any person as to the Company or its operations, financial condition or prospects. Such Buyer is an
“accredited investor” as defined in Regulation D promulgated by the Securities and Exchange Commission under the Act.
In the event such Buyer does not join the Board of Directors of the Company upon the consummation of the Public Offering (whether
and either at the election of the Company or such Buyer for any reason), then the Buyer shall promptly return the Shares and Warrants
to the Company.


 


Section 5 Miscellaneous.
This Assignment, together with the certificates, documents, instruments and writings that are delivered pursuant hereto, constitutes
the entire agreement and understanding of the parties hereto in respect of its subject matter. This Assignment may be executed
in two or more counterparts, each of which will be deemed an original but all of which together will constitute one and the same
instrument. This Assignment may not be amended, modified or waived as to any particular provision, except by a written instrument
executed by all parties hereto. Except as otherwise provided herein, no party hereto may assign either this Assignment or any of
its rights, interests, or obligations hereunder without the prior written approval of the other party.


 


[SIGNATURE PAGE FOLLOWS]


 




    	 



    	 



    

 


IN WITNESS WHEREOF,
the undersigned have executed this Assignment to be effective as of the date first set forth above.


 


 





	 	LEVY ACQUISITION SPONSOR, LLC
	 	 	 	 
	 	 	 	 
	 	By: 	/s/ Ari B. Levy	 
	 	 	Name: Ari B. Levy	 
	 	 	Title:  President	 
	 	 	 	 
	 	BUYERS:	 
	 	 	 	 
	 	 	 	 
	 	/s/ Howard Bernick	 
	 	Name:  Howard Bernick	 
	 	 	 	 
	 	 	 	 
	 	/s/ Greg Flynn	 
	 	Name: Greg Flynn	 
	 	 	 	 
	 	 	 	 
	 	/s/ Marc Simon	 
	 	Name: Marc Simon	 
	 	 	 	 
	 	 	 	 
	 	/s/ Craig Duchossois	 
	 	Name: Craig Duchossois