Exhibit 10.1(b)


 


[______], 2015


 


Double Eagle Acquisition Corp.


2121 Avenue of the Stars, Suite 2300


Los Angeles, CA 90067


 


Re:   Initial Public
Offering


 


Gentlemen:


 


This letter
(this “Letter Agreement”) is being delivered to you in accordance with the Underwriting Agreement
(the “Underwriting Agreement”) entered into by and among Double Eagle Acquisition Corp., a Cayman
Islands exempted company (the “Company”), Deutsche Bank Securities Inc. and Merrill Lynch, Pierce,
Fenner & Smith Incorporated, as representatives of the several underwriters (the
“Underwriters”), relating to an underwritten initial public offering (the
“Public Offering”), of 46,000,000 of the Company’s units (including up to
6,000,000 Units that may be purchased to cover over-allotments, if any, the “Units”), each
comprised of one of the Company’s Class A ordinary shares, par value $0.0001 per share (the “Ordinary
Shares”), and one warrant (each, a “Warrant”). Each Warrant entitles the holder
thereof to purchase one-half of one Ordinary Share at a price of $5.75 per half share, subject to adjustment. The Units shall
be sold in the Public Offering pursuant to a registration statement on Form S-1 and prospectus (the
“Prospectus”) filed by the Company with the United States Securities and Exchange Commission (the
“Commission”) and the Company shall apply to have the Units listed on the Nasdaq Capital
Market. Certain capitalized terms used herein are defined in paragraph 9 hereof.


 


In
order to induce the Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the Public Offering
and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby
agrees with the Company as follows:


 


1.
The undersigned agrees that if the Company seeks shareholder approval of a proposed initial Business Combination, then in connection
with such proposed initial Business Combination, he or she shall vote all the Founder Shares owned by him or her any shares acquired
by him or her in the Public Offering or the secondary public market in favor of such proposed initial Business Combination and not redeem any Ordinary Shares owned by the undersigned in connection with such shareholder approval.


 


2.
The undersigned hereby agrees that in the event that the Company fails to consummate a Business Combination within 24 months from
the closing of the Public Offering (or such later period approved by the Company’s shareholders in accordance with the Company’s
amended and restated memorandum and articles of association), he or she shall take all reasonable steps to cause the Company to
(i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than 10 business
days thereafter, redeem 100% of the Ordinary Shares sold as part of the Units in the Public Offering (the “Offering
Shares”), at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account,
including interest (less up to $100,000 of interest to pay dissolution expenses) less income taxes payable, divided by the number
of then outstanding public shares, which redemption will completely extinguish Public Shareholders’ rights as shareholders
(including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as
reasonably possible following such redemption, subject to the approval of the Company’s remaining shareholders and the Company’s
board of directors, dissolve and liquidate, subject in each case to the Company’s obligations under Cayman Islands law to
provide for claims of creditors and other requirements of applicable law. The undersigned agrees that he or she will not propose
any amendment to the Company’s amended and restated memorandum and articles of association that would affect the substance
or timing of the Company’s obligation to redeem 100% of the Offering Shares if the Company does not complete a Business Combination
within 24 months from the closing of the Public Offering unless the Company provides its public shareholders with the opportunity
to redeem their Ordinary Shares upon approval of any such amendment at a per-share price, payable in cash, equal to the aggregate
amount then on deposit in the Trust Account, including interest, less income taxes payable, divided by the number of then outstanding
public shares.


   




     


     


    

 


The
undersigned acknowledges that he or she has no right, title, interest or claim of any kind in or to any monies held in the Trust
Account or any other asset of the Company as a result of any liquidation of the Company with respect to the Founder Shares. The
undersigned hereby further waives, with respect to any Ordinary Shares held by him or her, any redemption rights he or she may
have in connection with the consummation by the Company of its initial Business Combination, including, without limitation, any
such rights available in the context of a shareholder vote to approve such Business Combination or in the context of a tender offer
made by the Company to purchase Ordinary Shares (although the undersigned shall be entitled to redemption and liquidation rights
with respect to any Ordinary Shares (other than the Founder Shares) he or she holds if the Company fails to consummate a Business
Combination within 24 months from the date of the closing of the Public Offering.


 


3.  During
the period commencing on the effective date of the Underwriting Agreement and ending 180 days after such date, the undersigned
shall not, without the prior written consent of Deutsche Bank Securities Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated (i) sell, offer to sell, contract or agree to sell,
hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree to dispose of, directly or indirectly, or establish
or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the
Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder, with respect
to any Units, Ordinary Shares, Warrants or any securities convertible into, or exercisable, or exchangeable for, Ordinary Shares
owned by him or her, (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic
consequences of ownership of any Units, Ordinary Shares, Warrants or any securities convertible into, or exercisable, or exchangeable
for, Ordinary Shares owned by him or her, whether any such transaction is to be settled by delivery of such securities, in cash
or otherwise, or (iii) publicly announce any intention to effect any transaction, including the filing of a registration statement,
specified in clause (i) or (ii). Each of the undersigned acknowledges and agrees that, prior to the effective date of any release
or waiver, of the restrictions set forth in this paragraph 3 or paragraph 4 below, the Company shall announce the impending release
or waiver by press release through a major news service at least two business days before the effective date of the release or
waiver. Any release or waiver granted shall only be effective two business days after the publication date of such press release.
The provisions of this paragraph will not apply if the release or waiver is effected solely to permit a transfer not for consideration
and the transferee has agreed in writing to be bound by the same terms described in this Letter Agreement to the extent and for
the duration that such terms remain in effect at the time of the transfer.


 


4.
(a) The undersigned agrees that he or she shall not Transfer any Founder Shares until the earlier of (A) one year after the completion
of a Business Combination or earlier if, subsequent to a Business Combination, the closing price of the Ordinary Share equals or
exceeds $12.00 per share (as adjusted for share splits, share capitalizations, reorganizations, recapitalizations and the like) for any
20 trading days within any 30-trading day period commencing at least 150 days after a Business Combination and (B) the date following
the completion of a Business Combination on which the Company completes a liquidation, merger, share exchange or other similar
transaction that results in all of the Company’s shareholders having the right to exchange their Ordinary Shares for cash,
securities or other property (the “Founder Shares Lock-up Period”).


  


(b)
Notwithstanding the provisions set forth in paragraphs 3 and 4(a), Transfers of the Founder Shares are permitted to (a) any the
Company’s officers or directors, any affiliates or family members of any of the Company’s officers or directors, any
members of the Sponsor (as defined below) or any affiliates of the Sponsor (b) by gift to a member of one of the members of the
undersigned’s immediate family or to a trust, the beneficiary of which is a member of one of the undersigned’s immediate
family, an affiliate of such person or to a charitable organization; (c) by virtue of laws of descent and distribution upon death
of the undersigned; (d) pursuant to a qualified domestic relations order; (e) by private sales or transfers made in connection
with the consummation of a Business Combination at prices no greater than the price at which the shares were originally purchased;
(f) by virtue of the limited liability company agreement of the Sponsor upon dissolution of the Sponsor; (g) in the event of the
Company’s liquidation prior to the completion of a Business Combination; or (h) in the event of completion of a liquidation,
merger, share exchange or other similar transaction which results in all of the Company’s shareholders having the right to
exchange their Ordinary Shares for cash, securities or other property subsequent to the completion of a Business Combination; provided,
however, that in the case of clauses (a) through (f) these permitted transferees must enter into a written agreement agreeing
to be bound by these transfer restrictions.


 


5.
The undersigned’s biographical information furnished to the Company (including any such information included in the Prospectus)
is true and accurate in all respects and does not omit any material information with respect to the undersigned’s background.
The undersigned’s questionnaire furnished to the Company is true and accurate in all respects. The undersigned represents
and warrants that: the undersigned is not subject to or a respondent in any legal action for, any injunction, cease-and-desist
order or order or stipulation to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction;
the undersigned has never been convicted of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any financial
transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and the undersigned is
not currently a defendant in any such criminal proceeding; and the undersigned has never been suspended or expelled from membership
in any securities or commodities exchange or association or had a securities or commodities license or registration denied, suspended
or revoked.


 




     


     


    

 


6.
Except as disclosed in the Prospectus, neither the undersigned nor any affiliate of the undersigned shall receive any
finder’s fee, reimbursement, consulting fee, monies in respect of any repayment of a loan or other compensation prior
to, or in connection with any services rendered in order to effectuate the consummation of the Company’s initial
Business Combination (regardless of the type of transaction that it is), other than the following, none of which will be made
from the proceeds of the Public Offering held in the Trust Account prior to the completion of a Business Combination:
repayment of a loan of up to $200,000 made to the Company by Double Eagle Acquisition LLC (the
“Sponsor”), pursuant to a Promissory Note dated July 1, 2015; reimbursement for office
space, secretarial and administrative services provided to members of the Company’s management team by an affiliate of
the Sponsor in an amount not to exceed $15,000 per month; reimbursement for any reasonable out-of-pocket expenses related to
identifying, investigating and consummating a Business Combination; and repayment of loans, if any, and on such terms as to
be determined by the Company from time to time, made by the Sponsor, an affiliate of the Sponsor, or certain of the
Company’s officers and directors to finance transaction costs in connection with an intended Business Combination,
provided, that, if the Company does not consummate an initial Business Combination, a portion of the working capital held
outside the Trust Account may be used by the Company to repay such loaned amounts so long as no proceeds from the Trust
Account are used for such repayment.

 

7.  The undersigned hereby agrees and acknowledges that (i) each of the Underwriters and the Company would be irreparably injured in the event of a breach by the undersigned of his or her obligations under paragraphs 1, 2, 3, 4(a), 4(b) and 6, (ii) monetary damages may not be an adequate remedy for such breach and (iii) the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that such party may have in law or in equity, in the event of such breach.



 


8.
The undersigned has full right and power, without violating any agreement to which he or she is bound (including, without limitation,
any non-competition or non-solicitation agreement with any employer or former employer), to enter into this Letter Agreement and
to serve as an officer of the Company or as a director on the board of directors of the Company, as applicable, and hereby consents
to being named in the Prospectus as an officer and/or director of the Company, as applicable.


 


9. As
used herein, (i) “Business Combination” shall mean a merger, capital share exchange, asset
acquisition, share purchase, reorganization or similar business combination, involving the Company and one or more
businesses; (ii) “Founder Shares” shall mean the Class B ordinary shares of the Company, par value $0.0001 per share, held by the
Sponsor, Harry E. Sloan and the Company’s independent directors prior to the consummation of the Public Offering;
(iii) “Public Shareholders” shall mean the holders of securities issued in the Public Offering;
(iv) “Trust Account” shall mean the trust fund into which a portion of the net proceeds of the
Public Offering shall be deposited; and (v) “Transfer” shall mean the (a) sale of, offer to sell,
contract or agreement to sell, hypothecate, pledge, grant of any option to purchase or otherwise dispose of or agreement to
dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation with respect to
or decrease of a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as
amended, and the rules and regulations of the Commission promulgated thereunder with respect to, any security, (b) entry into
any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership
of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or
(c) public announcement of any intention to effect any transaction specified in clause (a) or (b).


 


10.
This Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter
hereof and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral,
to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement
may not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision, except
by a written instrument executed by the parties hereto.


 


11.
Neither party hereto may assign either this Letter Agreement or any of its rights, interests, or obligations hereunder without
the prior written consent of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual
and shall not operate to transfer or assign any interest or title to the purported assignee. This Letter Agreement shall be binding
on the undersigned and each of his or her respective successors, heirs, personal representatives and assigns.


 




     


     


    

 


12.
This Letter Agreement 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.
The parties hereto (i) agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Letter
Agreement shall be brought and enforced in the courts of New York City, in the State of New York, and irrevocably submit to such
jurisdiction and venue, which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction
and venue or that such courts represent an inconvenient forum.


 


13.
Any notice, consent or request to be given in connection with any of the terms or provisions of this Letter Agreement shall be
in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested),
by hand delivery or facsimile transmission.


 


14.
This Letter Agreement shall terminate on the earlier of (i) the expiration of the Founder Shares Lock-up Period and (ii) the liquidation
of the Company; provided, however, that this Letter Agreement shall earlier terminate in the event that
the Public Offering is not consummated and closed by November 30, 2015.


  


[Signature page
follows]


  




     


     


    

 


	 	Sincerely,
	 	 
	 	 


 


	Acknowledged and Agreed:	 
	 	 
	DOUBLE EAGLE ACQUISITION CORP.	 
	 	 
	By:   	 	 
	 	Name: 	 
	 	Title: