Exhibit 10.1


 


AMENDMENT NO. 1 TO INVESTMENT MANAGEMENT
TRUST

AGREEMENT


 


THIS AMENDMENT NO. 1 TO THE INVESTMENT
MANAGEMENT TRUST AGREEMENT (this “Amendment”) is made as of July 27th, 2017, by and between
JM Global Holding Company, a Delaware corporation (the “Company”), and Continental Stock Transfer &
Trust Company, a New York corporation (the “Trustee”). Capitalized terms contained in this Amendment,
but not specifically defined in this Amendment, shall have the meanings ascribed to such terms in the Original Agreement (as defined
below).


 


WHEREAS, on July 23, 2015, the Company
consummated an initial public offering (the “Offering”) of units of the Company’s equity securities,
each such unit comprised of one share of the Company’s common stock, par value $0.0001 per share (“Common Stock”),
and one warrant, each warrant entitling the holder thereof to purchase one-half of one share of Common Stock;


 


WHEREAS, the Company entered into an Underwriting
Agreement with Cantor Fitzgerald & Co. (the “Underwriting Agreement”);


 


WHEREAS, $50,000,000 of the gross proceeds
of the Offering and sale of the Private Placement Units (as defined in the Underwriting Agreement) were delivered to the Trustee
to be deposited and held in a segregated trust account located in the United States (the “Trust Account”)
for the benefit of the Company and the holders of the Company’s Common Stock included in the Units issued in the Offering
pursuant to the investment management trust agreement made effective as of July 23, 2015 by and between the Company and the Trustee
(the “Original Agreement”);


 


WHEREAS, the Company has sought the approval
of its Public Stockholders at a meeting of its stockholders to: (i) extend the date before which the Company must complete a business
combination from July, 29, 2017 to January 29, 2018 (the “Extension Amendment”) and (ii) extend the date
on which the Trustee must liquidate the Trust Account if the Company has not completed a business combination from July, 29, 2017
to January 29, 2018 (the “Trust Amendment”);


 


WHEREAS, holders of at least ninety percent
(90%) of the Company’s outstanding shares of common stock approved the Extension Amendment and the Trust Amendment; and


 


WHEREAS, the parties desire to amend and
restate the Original Agreement to, among other things, reflect amendments to the Original Agreement contemplated by the Trust Amendment.


 


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


 


	 	1.	Amendment of Trust Agreement.


 


	 	1.1.	Section 1(i) of the Original Agreement is hereby amended and restated in its entirety as follows:


 


“(i) Commence liquidation of the
Trust Account only after and promptly after (x) receipt of, and only in accordance with, the terms of a letter from the Company
(“Termination Letter”) in a form substantially similar to that attached hereto as either Exhibit A or
Exhibit B , as applicable, signed on behalf of the Company by its Chief Executive Officer, President, Chief Financial Officer or
Chairman of the board of directors (the “Board”) or other authorized officer of the Company, and complete
the liquidation of the Trust Account and distribute the Property in the Trust Account, including any amounts representing interest
earned on the Trust Account, less any interest previously released to, or reserved for use by, the Company as provided in this
Agreement for working capital purposes or to pay taxes or dissolution expenses, only as directed in the Termination Letter and
the other documents referred to therein, or (y) upon January 29, 2018 (“Termination Date”), if a Termination
Letter has not been received by the Trustee prior to such date, in which case the Trust Account shall be liquidated in accordance
with the procedures set forth in the Termination Letter attached as Exhibit B and the Property in the Trust Account, including
any amounts representing interest earned on the Trust Account, less any interest previously released to, or reserved for use by,
the Company as provided in this Agreement for working capital requirements or to pay taxes or dissolution expenses, shall be distributed
to the Public Stockholders of record as of such date. The Trustee agrees to serve as the paying agent of record (“Paying
Agent”) with respect to any distribution of Property that is to be made to the Public Stockholders and, in its separate capacity
as Paying Agent, agrees to distribute such Property directly to the Company’s Public Stockholders in accordance with the
terms of this Agreement and the Company’s Certificate of Incorporation in effect at the time of such distribution;”


 






     

     

    

 


	 	1.2.	A new Section 1(k) is hereby added to the Original Agreement as follows:


 


“(k) Upon written request from the
Company, which may be given from time to time in a form substantially similar to that attached hereto as Exhibit D (a “Stockholder
Redemption Withdrawal Instruction”), the Trustee shall distribute to the Company the amount requested by the Company
to be used to redeem shares of Common Stock from Public Stockholders in the event that the Company’s stockholders approve
an amendment to the Company’s amended and restated certificate of incorporation to extend the time period in which the Company
must complete its initial Business Combination or liquidate the Trust Account. The written request of the Company referenced above
shall constitute presumptive evidence that the Company is entitled to said funds, and the Trustee shall have no responsibility
to look beyond said request.”


 


	 	1.3.	A new Exhibit D is hereby added to the Original Agreement as follows:


 


“EXHIBIT D

 

[Letterhead of Company]

 

[Insert date]


 


Continental Stock Transfer & Trust Company

1 State Street Plaza, 30th Floor


New York, NY 10004-1561

Attn: Steven G. Nelson or Fran Wolf


 


Re: Trust Account No. Stockholder
Redemption Withdrawal Instruction


 


Gentlemen:


 


Pursuant to Section 1(k) of
the Investment Management Trust Agreement between JM Global Holding Company, a Delaware corporation (the “Company”),
and Continental Stock Transfer & Trust Company (“Trustee”), dated as of July 23, 2015 (as amended
from time to time, “Trust Agreement”), the Company hereby requests that you deliver to the Company $______ of
the principal of the Property as of the date hereof to a segregated account held by you on behalf of the Beneficiaries. Capitalized
terms used but not defined herein shall have the meanings set forth in the Trust Agreement.


 


The Company needs such funds to pay its Public
Stockholders who have properly elected to have their shares of Common Stock redeemed by the Company in connection with the stockholder
vote to approve an amendment to the Company’s amended and restated certificate of incorporation to extend the time in which
the Company must complete a Business Combination or liquidate the Trust Account. As such, you are hereby directed and authorized
to transfer (via wire transfer) such funds promptly upon your receipt of this letter to a segregated account held by you on behalf
of the Beneficiaries. 


	 	Very truly yours,
	 	 	 
	 	JM Global Holding Company
	 	 	 
	 	By:	 
	 	 	Name: Tim Richerson
	 	 	Title: Chief Executive Officer


 


cc: Cantor Fitzgerald & Co.


  






    2


     

    

 


	 	2.	Miscellaneous Provisions.


 


	 	2.1.	Successors.  All the covenants and provisions of this Amendment by or for the benefit of the Company or the Trustee shall bind and inure to the benefit of their permitted respective successors and assigns.


 


	 	2.2.	Severability.  This Amendment shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability of this Amendment or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Amendment a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.


 


	 	2.3.	Applicable Law.  This Amendment shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.


 


	 	2.4. 	Counterparts.  This Amendment may be executed in several original or facsimile counterparts, each of which shall constitute an original, and together shall constitute but one instrument.


 


	 	2.5. 	Effect of Headings.  The section headings herein are for convenience only and are not part of this Amendment and shall not affect the interpretation thereof.


 


	 	2.6.	Entire Agreement.  The Original Agreement, as modified by this Amendment, constitutes the entire understanding of the parties and supersedes all prior agreements, understandings, arrangements, promises and commitments, whether written or oral, express or implied, relating to the subject matter hereof, and all such prior agreements, understandings, arrangements, promises and commitments are hereby canceled and terminated.


 


[Signature page follows]


 






    3


     

    

 


IN WITNESS WHEREOF, the parties hereto have
caused this Amendment to be duly executed as of the date first above written.


 


	 	Continental Stock Transfer & Trust Company, as Trustee
	 	 	 
	 	By:	/s/ Fran Wolf 
	 	 	Name: Fran Wolf
	 	 	Title: Vice President


 


	 	JM Global Holding Company
	 	 	 
	 	By:	 /s/ Tim Richerson
	 	 	Name: Tim Richerson
	 	 	Title: Chief Executive Officer


 


[Signature Page to Amendment to Investment
Management Trust Agreement]


 


 


4