Exhibit 10.3


 


PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT


 


THIS PRIVATE PLACEMENT
WARRANTS PURCHASE AGREEMENT, dated as of September 10, 2015 (as it may from time to time be amended and including all exhibits
referenced herein, this “Agreement”), by and among Double Eagle Acquisition Corp., a Cayman Islands exempted company
(the “Company”), and each of the parties set forth on the signature page hereto under “Purchasers” (the
“Purchasers”).


 


The Company intends
to consummate a public offering of the Company’s units (the “Public Offering”), each unit consisting of one share
of the Company’s Class A Ordinary Shares, par value $0.0001 per share (a “Share”), and one warrant. Each warrant
entitles the holder to purchase one-half of one Share at an exercise price of $5.75 per half Share. The Purchasers have agreed
to purchase an aggregate of 19,500,000 warrants (the “Private Placement Warrants”), each Private Placement Warrant
entitling the holder to purchase one Share at an exercise price of $5.75 per half Share.


 


NOW THEREFORE, in consideration
of the mutual promises contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties to this Agreement hereby, intending legally to be bound, agree as follows:


 


AGREEMENT


 


Section 1.          Authorization,
Purchase and Sale; Terms of the Private Placement Warrants.


 


A.           Authorization
of the Private Placement Warrants. The Company has duly authorized the issuance and sale of the Private Placement Warrants
to the Purchasers.


 


B.           Purchase
and Sale of the Private Placement Warrants. On the date that is one business day prior to the date of the consummation of the
Public Offering or on such earlier time and date as may be mutually agreed by the Purchasers and the Company (the “Closing
Date”), the Company shall issue and sell to the Purchasers, and the Purchasers shall purchase from the Company, the Private
Placement Warrants set forth opposite such Purchaser’s name on Exhibit A to this Agreement at a price of $0.50 per
warrant for an aggregate purchase price of $9,750,000 (the “Purchase Price”), which shall be paid by wire transfer
of immediately available funds to the Company in accordance with the Company’s wiring instructions. On the Closing Date,
upon the payment by the Purchasers of the Purchase Price set forth opposite such Purchaser’s name on Exhibit A to
this Agreement by wire transfer of immediately available funds to the Company, the Company shall deliver a certificate evidencing
the Private Placement Warrants duly registered in such Purchaser’s name to each Purchaser.


 


C.          Terms
of the Private Placement Warrants.


 


(i)          Each
Private Placement Warrant shall have the terms set forth in a Warrant Agreement to be entered into by the Company and a warrant
agent, in connection with the Public Offering (a “Warrant Agreement”).


 


(ii)         At
the time of the closing of the Public Offering, the Company and the Purchasers shall enter into a registration rights agreement
(the “Registration Rights Agreement”) pursuant to which the Company will grant certain registration rights to the Purchasers
relating to the Private Placement Warrants and the Shares underlying the Private Placement Warrants.


 


Section 2.          Representations
and Warranties of the Company. As a material inducement to the Purchasers to enter into this Agreement and purchase the Private
Placement Warrants, the Company hereby represents and warrants to the Purchasers (which representations and warranties shall survive
the Closing Date) that:


 


A.          Incorporation
and Corporate Power. The Company is an exempted company duly incorporated, validly existing and in good standing under the
laws of the Cayman Islands and is qualified to do business in every jurisdiction in which the failure to so qualify would reasonably
be expected to have a material adverse effect on the financial condition, operating results or assets of the Company. The Company
possesses all requisite corporate power and authority necessary to carry out the transactions contemplated by this Agreement and
the Warrant Agreement.


 




    	 	 	 



     


    

 


B.          Authorization;
No Breach.


 


(i)          The
execution, delivery and performance of this Agreement and the Private Placement Warrants have been duly authorized by the Company
as of the Closing Date. This Agreement constitutes the valid and binding obligation of the Company, enforceable in accordance with
its terms. Upon issuance in accordance with, and payment pursuant to, the terms of the Warrant Agreement and this Agreement, the
Private Placement Warrants will constitute valid and binding obligations of the Company, enforceable in accordance with their terms
as of the Closing Date.


 


(ii)         The
execution and delivery by the Company of this Agreement and the Private Placement Warrants, the issuance and sale of the Private
Placement Warrants, the issuance of the Shares upon exercise of the Private Placement Warrants and the fulfillment of, and compliance
with, the respective terms hereof and thereof by the Company, do not and will not as of the Closing Date (a) conflict with
or result in a breach of the terms, conditions or provisions of, (b) constitute a default under, (c) result in the creation
of any lien, security interest, charge or encumbrance upon the Company’s equity or assets under, (d) result in a violation
of, or (e) require any authorization, consent, approval, exemption or other action by or notice or declaration to, or filing
with, any court or administrative or governmental body or agency pursuant to the Amended and Restated Memorandum and Articles of
Association of the Company in effect on the date hereof or as may be amended prior to completion of the contemplated Public Offering,
or any material law, statute, rule or regulation to which the Company is subject, or any agreement, order, judgment or decree to
which the Company is subject, except for any filings required after the date hereof under federal or state securities laws.


  


C.          Title
to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, and upon
registration in the Company’s register of members, the Shares issuable upon exercise of the Private Placement Warrants will
be duly and validly issued, fully paid and nonassessable. Upon issuance in accordance with, and payment pursuant to, the terms
hereof and the Warrant Agreement, and upon registration in the Company’s register of members, the Purchasers will have good
title to the Private Placement Warrants and the Shares issuable upon exercise of such Private Placement Warrants, free and clear
of all liens, claims and encumbrances of any kind, other than (i) transfer restrictions hereunder and under the other agreements
contemplated hereby, (ii) transfer restrictions under federal and state securities laws, and (iii) liens, claims or encumbrances
imposed due to the actions of the Purchasers.


 


D.          Governmental
Consents. No permit, consent, approval or authorization of, or declaration to or filing with, any governmental authority is
required in connection with the execution, delivery and performance by the Company of this Agreement or the consummation by the
Company of any other transactions contemplated hereby.


 


E.           Regulation
D Qualification. Neither the Company nor, to its knowledge, any of its affiliates, members, officers, directors or beneficial
shareholders of 20% or more of its outstanding securities, has experienced a disqualifying event as enumerated pursuant to Rule
506(d) of Regulation D under the Securities Act of 1933, as amended (the “Securities Act”).


 


Section 3.          Representations
and Warranties of the Purchasers. As a material inducement to the Company to enter into this Agreement and issue and sell the
Private Placement Warrants to the Purchasers, each Purchaser hereby, severally and not jointly, represents and warrants to the
Company (which representations and warranties shall survive the Closing Date) that:


 


A.          Organization
and Requisite Authority. Such Purchaser possesses all requisite power and authority necessary to carry out the transactions
contemplated by this Agreement.


 


B.          Authorization;
No Breach.


 


(i)          This
Agreement constitutes a valid and binding obligation of such Purchaser, enforceable in accordance with its terms, subject to bankruptcy,
insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general applicability relating to or affecting
creditors’ rights and to general equitable principles (whether considered in a proceeding in equity or law).


 




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(ii)         The
execution and delivery by such Purchaser of this Agreement and the fulfillment of and compliance with the terms hereof by such
Purchaser does not and shall not as of the Closing Date conflict with or result in a breach by such Purchaser of the terms, conditions
or provisions of any agreement, instrument, order, judgment or decree to which such Purchaser is subject.


 


C.          Investment
Representations.


 


(i)          Such
Purchaser is acquiring the Private Placement Warrants and, upon exercise of the Private Placement Warrants, the Shares issuable
upon such exercise (collectively, the “Securities”), for such Purchaser’s own account, for investment purposes
only and not with a view towards, or for resale in connection with, any public sale or distribution thereof.


 


(ii)         Such
Purchaser is an “accredited investor” as such term is defined in Rule 501(a)(3) of Regulation D, and such
Purchaser has not experienced a disqualifying event as enumerated pursuant to Rule 506(d) of Regulation D under the Securities
Act.


 


(iii)        Such
Purchaser understands that the Securities are being offered and will be sold to it in reliance on specific exemptions from the
registration requirements of the United States federal and state securities laws and that the Company is relying upon the truth
and accuracy of, and such Purchaser’s compliance with, the representations and warranties of such Purchaser set forth herein
in order to determine the availability of such exemptions and the eligibility of such Purchaser to acquire such Securities.


  


(iv)        Such
Purchaser did not decide to enter into this Agreement as a result of any general solicitation or general advertising within the
meaning of Rule 502(c) under the Securities Act.


 


(v)         Such
Purchaser has been furnished with all materials relating to the business, finances and operations of the Company and materials
relating to the offer and sale of the Securities which have been requested by such Purchaser. Such Purchaser has been afforded
the opportunity to ask questions of the executive officers and directors of the Company. Such Purchaser understands that its investment
in the Securities involves a high degree of risk and it has sought such accounting, legal and tax advice as it has considered necessary
to make an informed investment decision with respect to the acquisition of the Securities.


 


(vi)        Such
Purchaser understands that no United States federal or state agency or any other government or governmental agency has passed on
or made any recommendation or endorsement of the Securities or the fairness or suitability of the investment in the Securities
by such Purchaser nor have such authorities passed upon or endorsed the merits of the offering of the Securities.


 


(vii)       Such
Purchaser understands that: (a) the Securities have not been and are not being registered under the Securities Act or any
state securities laws, and may not be offered for sale, sold, assigned or transferred unless (1) subsequently registered thereunder
or (2) sold in reliance on an exemption therefrom; and (b) except as specifically set forth in the Registration Rights
Agreement, neither the Company nor any other person is under any obligation to register the Securities under the Securities Act
or any state securities laws or to comply with the terms and conditions of any exemption thereunder. In this regard, such Purchaser
understands that the Securities and Exchange Commission has taken the position that promoters or affiliates of a blank check company
and their transferees, both before and after a Business Combination, are deemed to be “underwriters” under the Securities
Act when reselling the securities of a blank check company. Based on that position, Rule 144 adopted pursuant to the Securities
Act would not be available for resale transactions of the Securities despite technical compliance with the requirements of such
Rule, and the Securities can be resold only through a registered offering or in reliance upon another exemption from the registration
requirements of the Securities Act.


 


(viii)      Such
Purchaser has such knowledge and experience in financial and business matters, knowledge of the high degree of risk associated
with investments in the securities of companies in the development stage such as the Company, is capable of evaluating the merits
and risks of an investment in the Securities and is able to bear the economic risk of an investment in the Securities in the amount
contemplated hereunder for an indefinite period of time. Such Purchaser has adequate means of providing for his, her or its current
financial needs and contingencies and will have no current or anticipated future needs for liquidity which would be jeopardized
by the investment in the Securities. Such Purchaser can afford a complete loss of his, her or its investments in the Securities.


 




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Section 4.          Conditions
of the Purchasers’ Obligations. The obligation of the Purchasers to purchase and pay for the Private Placement Warrants
are subject to the fulfillment, on or before the Closing Date, of each of the following conditions:


  


A.           Representations
and Warranties. The representations and warranties of the Company contained in Section 2 shall be true and correct at
and as of the Closing Date as though then made.


 


B.           Performance.
The Company shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by it on or before the Closing Date.


 


C.           No
Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory
organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions
contemplated by this Agreement or the Warrant Agreement.


 


D.           Warrant
Agreement. The Company shall have entered into a Warrant Agreement with a warrant agent on terms satisfactory to each of the
Purchasers.


 


Section 5.          Conditions
of the Company’s Obligations. The obligations of the Company to the Purchasers under this Agreement are subject to the
fulfillment, on or before the Closing Date, of each of the following conditions:


 


A.           Representations
and Warranties. The representations and warranties of the Purchasers contained in Section 3 shall be true and correct
at and as of the Closing Date as though then made.


 


B.           Performance.
The Purchasers shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by the Purchasers on or before the Closing Date.


 


C.           Corporate
Consents. The Company shall have obtained the consent of its Board of Directors authorizing the execution, delivery and performance
of this Agreement and the Warrant Agreement and the issuance and sale of the Private Placement Warrants hereunder.


 


D.           No
Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory
organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions
contemplated by this Agreement or the Warrant Agreement.


 


E.           Warrant
Agreement. The Company shall have entered into a Warrant Agreement with a warrant agent on terms satisfactory to the Company.


 


Section 6.          Termination.
This Agreement may be terminated at any time after November 30, 2015, 2015 upon the election by either the Company or a Purchaser
entitled to purchase a majority of the Private Placement Warrants upon written notice to the other parties if the closing of the
Public Offering does not occur prior to such date.


 


Section 7.          Survival
of Representations and Warranties. All of the representations and warranties contained herein shall survive the Closing Date.


  




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Section 8.          Definitions.
Terms used but not otherwise defined in this Agreement shall have the meaning assigned to such terms in the registration statement
on Form S-1 the Company plans to file with the Securities and Exchange Commission, under the Securities Act.


 


Section 9.          Miscellaneous.


 


A.           Successors
and Assigns. Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement by or
on behalf of any of the parties hereto shall bind and inure to the benefit of the respective successors of the parties hereto whether
so expressed or not. Notwithstanding the foregoing or anything to the contrary herein, the parties may not assign this Agreement,
other than assignments by the Purchasers to affiliates thereof (including, without limitation one or more of its members).


 


B.           Severability.
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall be
ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement.


 


C.           Counterparts.
This Agreement may be executed simultaneously in two or more counterparts, none of which need contain the signatures of more than
one party, but all such counterparts taken together shall constitute one and the same agreement.


 


D.           Descriptive
Headings; Interpretation. The descriptive headings of this Agreement are inserted for convenience only and do not constitute
a substantive part of this Agreement. The use of the word “including” in this Agreement shall be by way of example
rather than by limitation.


 


E.           Governing
Law. This Agreement shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall
be construed in accordance with the internal laws of the State of Delaware.


 


F.           Amendments.
This letter agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed
by all parties hereto.


 


[Signature page follows]


 




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IN
WITNESS WHEREOF, the parties hereto have executed this Agreement to be effective as of
the date first set forth above.


 


	 	COMPANY:
	 	 
	 	DOUBLE EAGLE ACQUISITION CORP.
	 	 	 
	 	By:	 /s/ Eli Baker
	 	 	Name: Eli Baker
	 	 	Title: Vice President, General Counsel and Secretary
	 	 	 
	 	PURCHASERS:
	 	 
	 	DOUBLE EAGLE ACQUISITION LLC
	 	 	 
	 	By:	 /s/ Jeff Sagansky
	 	 	Name: Jeff Sagansky
	 	 	Title: Managing Member
	 	 	 
	 	/s/ Harry E. Sloan
	 	Harry E. Sloan


 


	 	/s/ Dennis A. Miller
	 	Dennis A. Miller


 


	 	
        /s/ James M. McNamara

	 	James M. McNamara


 


	 	
        /s/ Fredric D. Rosen

	 	Fredric D. Rosen


 


	 	SARA L. ROSEN TRUST
	 	 	 
	 	By:	 /s/ Fredric D. Rosen, Trustee
	 	 	Name: Fredric D. Rosen
	 	 	Title: Trustee
	 	 	 
	 	SAMUEL N. ROSEN 2015 TRUST
	 	 	 
	 	By:	 /s/ Fredric D. Rosen, Trustee
	 	 	Name: Fredric D. Rosen
	 	 	
        Title: Trustee

	 	 	 
	 	FREDRIC D. ROSEN IRA
	 	 	 
	 	By:	 /s/ Fredric D. Rosen, Trustee
	 	 	Name: Fredric D. Rosen
	 	 	Title: Trustee


 


[Signature Page to Private Placement Warrants
Purchase Agreement]


 




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Exhibit A


 


	Name	 	Number of Private Placement
 Warrants	 	 	Purchase Price	 
	Double Eagle Acquisition LLC	 	 	7,275,000	 	 	$	3,637,500	 
	Harry E. Sloan	 	 	7,275,000	 	 	$	3,637,500	 
	Dennis A. Miller	 	 	1,650,000	 	 	$	825,000	 
	James M. McNamara	 	 	1,650,000	 	 	$	825,000	 
	Fredric D. Rosen	 	 	1,050,000	 	 	$	525,000	 
	Sara L. Rosen Trust	 	 	200,000	 	 	$	100,000	 
	Samuel N. Rosen 2015 Trust	 	 	200,000	 	 	$	100,000	 
	Fredric D. Rosen IRA	 	 	200,000	 	 	$	100,000	 
	Totals:	 	 	19,500,000	 	 	$	9,750,000	 



 




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