Document:

Blueprint

 

Exhibit 10.3

 

AUTOWEB,
INC.

 

SEVERANCE
BENEFITS AGREEMENT

 

This
Severance Benefits Agreement (“Agreement”) entered into effective
as of December 17, 2018, (“Effective Date”) between AutoWeb,
Inc., a Delaware corporation (“AutoWeb” or “Company”), and Joseph P.
Hannan (“Employee”).

 

Background

 

AutoWeb
has determined that it is in its best interests to provide Employee
with certain severance benefits to encourage Employee’s
continued employment with, and dedication to the business of, the
Company.

 

In
consideration of the foregoing and other good and valuable
consideration, receipt of which is hereby acknowledged, the Parties
hereby agree as follows.

 

1. Definitions.
For purposes of this Agreement, the terms below that begin with
initial capital letters within this Agreement shall have the
specially defined meanings set forth below (unless the context
clearly indicates a different meaning).

 

(a) “409A Suspension Period”
shall have the meaning set forth in Section 3.

 

(b) “Arbitration Agreement”
means that certain Mutual Agreement to Arbitrate dated as December
17, 2018 entered into by and between the Company and
Employee.

 

(c) “Cause” shall mean the
termination of the Employee’s employment by the Company as a
result of any one or more of the following:

 

(i) any conviction of,
or pleading of nolo contendere by, the Employee for any
felony;

 

(ii) any
willful misconduct of the Employee which has a materially injurious
effect on the business or reputation of the Company;

 

(iii) the
gross dishonesty of the Employee in any way that adversely affects
the Company; or

 

(iv) a
material failure to consistently discharge Employee’s
employment duties to the Company which failure continues for thirty
(30) days following written notice from the Company detailing the
area or areas of such failure, other than such failure resulting
from Employee’s Disability.

 

For
purposes of this definition of Cause, no act or failure to act, on
the part of the Employee, shall be considered “willful”
if it is done, or omitted to be done, by the Employee in good faith
or with reasonable belief that Employee’s action or omission
was in the best interest of the Company. Employee shall have the
opportunity to cure any such acts or omissions (other than clauses
(i) and (iii) above) within thirty (30) days of the
Employee’s receipt of a written notice from the Company
notifying Employee that, in the opinion of the Company,
“Cause” exists to terminate Employee’s
employment.

 

(d) “Change of Control” shall
mean any of the following events:

 

(i)      
When any “person” as
defined in Section 3(a)(9) of the Exchange Act and as used in
Sections 13(d) and 14(d) thereof (including a “group”
as defined in Section 13(d) of the Exchange Act, but excluding the
Company, any Subsidiary or any employee benefit plan sponsored or
maintained by the Company or any Subsidiary (including any trustee
of such plan acting as trustee)), directly or indirectly, becomes
the “beneficial owner” (as defined in Rule 13d-3 under
the Exchange Act, as amended from time to time), of securities of
the Company representing 50% or more of the combined voting power
of the Company’s then outstanding
securities.

 

 

 

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(ii)     
When the individuals who, as of the
Effective Date, constitute the Board (“Incumbent
Board”), cease for any
reason to constitute at least a majority of the Board; provided
however, that any individual becoming a director subsequent to such
date, whose election, or nomination for election by the
Company’s stockholders, was approved by a vote of at least a
majority of the directors then comprising the Incumbent Board
shall, for purposes of this section, be counted as a member of the
Incumbent Board in determining whether the Incumbent Board
constitutes a majority of the Board.

 

(iii)     Consummation of a reorganization, merger or
consolidation or sale or other disposition of all or substantially
all of the assets of the Company or the acquisition of assets of
another corporation (a “Business
Combination”), in each
case, unless, following such Business
Combination:

 

(1)       
all or substantially all of the
individuals and entities who were the beneficial owners of the then
outstanding shares of common stock of the Company and the
beneficial owners of the combined voting power of the then
outstanding voting securities of the Company entitled to vote
generally in the election of directors immediately prior to such
Business Combination beneficially own, directly or indirectly, more
than fifty percent (50%) of the then outstanding shares of common
stock and the combined voting power of the then outstanding
securities entitled to vote generally in the election of directors,
respectively, as the case may be, of the corporation resulting from
such Business Combination (including, without limitation, a
corporation which as a result of such transaction owns the Company
or all or substantially all of the Company’s assets either
directly or indirectly or through one or more subsidiaries);
and

 

(2)       
no person (excluding any employee
benefit plan or related trust of the Company or such corporation
resulting from such Business Combination) beneficially owns,
directly or indirectly, fifty percent (50%) or more of the then
outstanding shares of common stock of the corporation resulting
from such Business Combination or the combined voting power of such
corporation except to the extent that such ownership existed prior
to the Business Combination.

 

(iv)     Approval by the stockholders of the Company of a
complete liquidation or dissolution of the
Company. 

 

(e) “COBRA” shall mean the
Consolidated Omnibus Budget Reconciliation Act, as amended, and the
rules and regulations promulgated thereunder.

 

(f) “Code” shall mean the
Internal Revenue Code of 1986, as amended, and the rules and
regulations promulgated thereunder.

 

(g) “Company” means AutoWeb,
and upon any assignment to and assumption of this Agreement by any
Successor Company, shall mean such Successor Company.

 

(h) “Disability” shall mean
the inability of the Employee to perform Employee’s duties to
the Company on account of physical or mental illness or incapacity
for a period of one-hundred twenty (120) consecutive calendar days,
or for a period of one hundred eighty (180) calendar days, whether
or not consecutive, during any three hundred sixty-five (365) day
period.

 

(i) “Employee’s
Position” means Employee’s position as the EVP,
Chief Financial Officer of the Company.

 

(a) “Employee’s Primary Work
Location” means AutoWeb’s headquarters located
at 18872 MacArthur Blvd, Suite 200, Irvine, CA 92612.

 

 

 

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(b) “Good Reason” means any
act, decision or omission by the Company that: (A) materially
modifies, reduces, changes, or restricts Employee’s base
salary as in existence as of the Effective Date or as of the date
prior to any such change, whichever is more beneficial for Employee
at the time of the act, decision, or omission by the Company; (B)
materially
modifies, reduces, changes, or restricts the Employee’s
Health and Welfare Benefits as a whole as in existence as of the
Effective Date hereof or as of the date prior to any such change,
whichever are more beneficial for Employee at the time of the act,
decision, or omission by the Company; (C) materially modifies,
reduces, changes, or restricts the Employee’s authority,
duties, or responsibilities commensurate with the Employee’s
Position but excluding the effects of any reductions in force other
than the Employee’s own termination; (D) relocates the
Employee’s primary place of employment without
Employee’s consent from Employee’s Primary Work
Location to any other location in excess of a fifty (50) mile
radius from the Employee’s Primary Work Location other than
on a temporary basis or requires any such relocation as a condition
to continued employment by Company; (E) constitutes a failure or
refusal by any Company Successor to assume this Agreement; or (F)
involves or results in any material failure by the Company to
comply with any provision of this Agreement, other than an
isolated, insubstantial and inadvertent failure not occurring in
bad faith and which is remedied by the Company promptly after
receipt of written notice thereof given by the Employee.
Notwithstanding the foregoing, no event shall constitute
“Good Reason” unless (i) the Employee first provides
written notice to the Company within ninety (90) days of the
event(s) alleged to constitute Good Reason, with such notice
specifying the grounds that are alleged to constitute Good Reason,
and (ii) the Company fails to cure such a material breach to the
reasonable satisfaction of the Employee within thirty (30) days
after Company’s receipt of such written notice.

 

(c) “Health and Welfare
Benefits” means all Company medical, dental, vision,
life and disability plans in which Employee
participates.

 

(d) “Separation from Service”
or “Separates from
Service” shall mean Employee’s termination of
employment, as determined in accordance with Treas. Reg. §
1.409A-1(h). Employee shall be considered to have experienced a
termination of employment when the facts and circumstances indicate
that Employee and the Company reasonably anticipate that either (i)
no further services will be performed for the Company after a
certain date, or (ii) that the level of bona fide services Employee
will perform for the Company after such date (whether as an
employee or as an independent contractor) will permanently decrease
to no more than twenty percent (20%) of the average level of bona
fide services performed by Employee (whether as an employee or
independent contractor) over the immediately preceding thirty-six
(36) month period (or the full period of services to the Company if
Employee has been providing services to the Company for less than
thirty six (36) months). If Employee is on military leave, sick
leave, or other bona fide leave of absence, the employment
relationship between Employee and the Company shall be treated as
continuing intact, provided that the period of such leave does not
exceed six months, or if longer, so long as Employee retains a
right to reemployment with the Company under an applicable statute
or by contract. If the period of a military leave, sick leave, or
other bona fide leave of absence exceeds six months and Employee
does not retain a right to reemployment under an applicable statute
or by contract, the employment relationship shall be considered to
be terminated for purposes of this Agreement as of the first day
immediately following the end of such six-month period. In applying
the provisions of this section, a leave of absence shall be
considered a bona fide leave of absence only if there is a
reasonable expectation that Employee will return to perform
services for the Company. For purposes of determining whether
Employee has incurred a Separation from Service, the Company shall
include the Company and any entity that would be considered a
single employer with the Company under Code Section 414(b) or
414(c).

 

(e) “Severance Period” shall
equal Six (6) months.

 

(f) “Successor Company” means
any successor to AutoWeb or its assets by reason of any Change of
Control.

 

(g) “Termination Without
Cause” means termination of Employee’s
employment with the Company (i) by the Company (a) for any reason
other than (1) death, (2) Disability or (3) those reasons expressly
set forth in the definition of “Cause,” (b) for no
reason at all, or (c) in connection with or as a result of a Change
of Control; provided, however, that a termination of
Employee’s employment with the Company in connection with a
Change of Control shall not constitute a Termination Without Cause
if Employee is offered employment with the Successor Company under
terms and conditions, including position, salary and other
compensation, and benefits, that would not provide Employee the
right to terminate Employee’s employment for Good
Reason.

 

 

 

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2. Severance Benefits
and Conditions.

 

(a) In the event of (i)
Termination Without Cause by the Company, or (ii) the termination
of Employee’s employment with the Company by Employee for
Good Reason within 30 days following the earlier of (1) the
Company’s failure to cure within the 30-day period set forth
in the definition of Good Reason, and (2) the Company’s
notice to Employee that it will not cure the event giving rise to
such termination for Good Reason, then (A) Employee shall receive
upon such termination a lump sum amount equal to the number of
months constituting the Severance Period at the time of termination
times the Employee’s monthly base salary (determined as the
Employee’s highest monthly base salary paid to Employee while
employed by the Company; base salary does not include any bonus,
commissions or other incentive payments or compensation); (B)
subject to Section 2(b) below, Employee shall be entitled to a
continuation of all Health and Welfare Benefits for Employee and,
if applicable, Employee’s eligible dependents during the
Severance Period at the time they would have been provided or paid
had the Employee remained an employee of Company during the
Severance Period and at the levels provided prior to the event
giving rise to a termination; and (C) the Company shall make
available to Employee career transition services at a level and
with a provider selected by the Company in accordance with Section
2(g) below.

 

(b) (i)  
With respect to Health and Welfare Benefits that are eligible for
continuation coverage under COBRA, in the event the Company is
unable to continue Employee’s and Employee’s eligible
dependents’ (assuming such dependents were covered by AutoWeb
at the time of termination) participation under the Company’s
then existing insurance policies for such Health and Welfare
Benefits, Employee may elect to obtain coverage for such Health and
Welfare Benefits either by (1) electing COBRA continuation benefits
for Employee and Employee’s eligible dependents; (2)
obtaining individual coverage for Employee and Employee’s
eligible dependents (if Employee and Employee’s eligible
dependents qualify for individual coverage); or (3) electing
coverage as eligible dependents under another person’s group
coverage (if Employee and Employee’s eligible dependents
qualify for such dependent coverage), or any combination of the
foregoing alternatives. Employee may also initially elect COBRA
continuation benefits and later change to individual coverage or
dependent coverage for Employee or any eligible dependent of
Employee, but Employee understands that if continuation of Health
and Welfare Benefits under COBRA is not initially selected by
Employee or is later terminated by Employee, Employee will not be
able to return to continuation coverage under COBRA. The Company
shall pay directly or reimburse to Employee the monthly premiums
for the benefits or coverage selected by Employee, with such
payment or reimbursement not to exceed the monthly premiums the
Company would have paid assuming Employee elected continuation of
benefits under COBRA. The Company’s obligation to pay or
reimburse for the Health and Welfare Benefits covered by this
Section 2(b)(i) shall terminate upon the earlier of (i) the end of
the Severance Period; and (ii) Employee’s employment by an
employer that provides Employee and Employee’s eligible
dependents with group coverage substantially similar to the Health
and Welfare Benefits provided to Employee and Employee’s
eligible dependents at the time of the termination of
Employee’s employment with the Company, provided that
Employee and Employee’s eligible dependents are eligible for
participation in such group coverage.

 

(ii)  With
respect to Health and Welfare Benefits that are not eligible for
continuation coverage under COBRA, in the event the Company is
unable to continue Employee’s participation under the
Company’s then existing insurance policies for such Health
and Welfare Benefits, Employee may elect to obtain coverage for
such Health and Welfare Benefits either by (1) obtaining individual
coverage for Employee (if Employee qualifies for individual
coverage); or (2) electing coverage as an eligible dependent under
another person’s group coverage (if Employee qualifies for
such dependent coverage), or any combination of the foregoing
alternatives. The Company shall pay directly or reimburse to
Employee the monthly premiums for the benefits or coverage selected
by Employee, with such payment or reimbursement not to exceed the
monthly premiums the Company paid for such Health and Welfare
Benefits at the time of termination of Employee’s employment
with the Company. The Company’s obligation to pay or
reimburse for the Health and Welfare Benefits covered by this
Section 2(b)(ii) shall terminate upon the earlier of (i) the end of
the Severance Period; and (ii) Employee’s employment by an
employer that provides Employee with group coverage substantially
similar to the Health and Welfare Benefits provided to Employee at
the time of the termination of Employee’s employment with the
Company, provided that Employee is eligible for participation in
such group coverage. Employee acknowledges and agrees that the
Company shall not be obligated to provide any Health and Welfare
Benefits covered by this Section 2(b)(ii) for Employee if Employee
does not qualify for coverage under the Company’s existing
insurance policies for such Health and Welfare Benefits, for
individual coverage, or for dependent coverage.

 

 

 

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(c)    
The payments and benefits set forth in Sections 2(a) and 2(b) are
conditioned upon and shall be provided to Employee only if (i)
Employee has executed and delivered to the Company a Separation and
Release Agreement in favor of the Company and Releasees, which
agreement shall be substantially in the form attached hereto as
Exhibit A (“Release”) no later than the
expiration of the applicable period of time allowed for Employee to
consider the Release as set forth in Section 17 of the Release
(“Release Consideration
Period”); (ii) Employee has not revoked the Release
prior to the expiration of the applicable revocation period set
forth in Section 17 of the Release (“Release Revocation Period”); and
(iii) the Release has become effective and non-revocable no later
than the cumulative period of time represented by the sum of the
maximum Release Consideration Period and the maximum Release
Revocation Period. No payments or benefits set forth in Sections
2(a) or 2(b) shall be due or payable to, or provided to, Employee
if the Release has not become effective and non-revocable in
accordance with the requirements of this Section 2(c).

 

(d)    
Upon satisfaction of the conditions set forth in Section 2(c), but
subject to the last sentence of this Section 2(d), all payments
under Section 2(a)(A) shall be made to Employee within five (5)
business days after the Release becomes effective and non-revocable
in accordance with its terms. In any case, the payment under
Section 2(a)(A) shall be made no later than two and one-half months
after the end of the calendar year in which Employee’s
Separation from Service occurs, provided that the Release shall
have become effective and non-revocable in compliance with Section
2(c) prior to expiration of such two and one-half month period. If
the period of time covered by the entire allowed Release
Consideration Period, the entire Revocation Period and the entire
five business day period described above in this Section 2(d)
(considering such periods consecutively) begins in one calendar
year and ends in the following calendar year, all payments under
Section 2(a)(A) shall be made to Employee on the first business day
of such following calendar year which is five (5) or more business
days after the date on which the Release became effective and
non-revocable in accordance with its terms.

 

(e)    
In addition to the payments and benefits under Sections 2(a) and
2(b), to the extent required by applicable law or the
Company’s incentive or other compensation plans applicable to
Employee, if any, upon any termination of Employee’s
employment Employee shall receive (i) any amounts earned and due
and owing to Employee as of the termination date with respect to
any base salary, incentive compensation or commissions; and (ii)
any other payments required by applicable law (including payments
with respect to accrued and unused vacation time). Payments
required under this Section 2(e) are not conditioned upon
Employee’s signing the Release and shall be made within the
time period(s) required by applicable law.

 

(f)    
All payments and benefits under this Section 2 are subject to
legally required federal, state and local payroll deductions and
withholdings.

 

(g)   
To receive career transition services, Employee must contact the
service provider no later than 30 days after the Release becomes
effective.

 

(h)   
Other than the payments and benefits provided for in this Section
2, Employee shall not be entitled to any additional payments or
benefits from the Company resulting from a termination of
Employee’s employment with the Company.

 

 

 

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3. Taxes. All
payments made pursuant to this Agreement will be subject to
withholding of applicable taxes. Notwithstanding the foregoing, and
except as otherwise specifically provided elsewhere in this
Agreement, Employee is solely responsible and liable for the
satisfaction of any federal, state, province or local taxes that
may arise with respect to this Agreement (including any taxes and
interest arising under Section 409A of the Code). Neither the
Company nor any of its employees, directors, or service providers
shall have any obligation whatsoever to pay such taxes or interest,
to prevent Employee from incurring them, or to mitigate or protect
Employee from any such tax or interest liabilities. Notwithstanding
anything in this Agreement to the contrary, if any amounts that
become due under this Agreement on account of Employee’s
termination of employment constitute “nonqualified deferred
compensation” within the meaning of Section 409A of the Code,
payment of such amounts shall not commence until Employee incurs a
Separation from Service. If, at the time of Employee’s
Separation from Service under this Agreement, Employee is a
“specified employee” (within the meaning of Section
409A of the Code), any amounts that constitute “nonqualified
deferred compensation” within the meaning of Section 409A of
the Code that become payable to Employee on account of
Employee’s Separation from Service (including any amounts
payable pursuant to the preceding sentence) will not be paid until
after the end of the sixth calendar month beginning after
Employee’s Separation from Service (“409A Suspension Period”). Within
14 calendar days after the end of the 409A Suspension Period,
Employee shall be paid a lump sum payment, without interest, in
cash equal to any payments delayed because of the preceding
sentence. Thereafter, Employee shall receive any remaining benefits
as if there had not been an earlier delay. With respect to the
reimbursement of expenses to which Employee is entitled under this
Agreement, if any, or the provision of in-kind benefits to Employee
as specified under this Agreement, if any, such reimbursement of
expenses or provision of in-kind benefits shall be subject to the
following conditions: (i) the expenses eligible for
reimbursement or the amount of in-kind benefits provided in one
taxable year shall not affect the expenses eligible for
reimbursement or the amount of in-kind benefits provided in any
other taxable year, except for any medical reimbursement
arrangement providing for the reimbursement of expenses referred to
in Section 105(b) of the Code, solely to the extent that the
arrangement provides for a limit on the amount of expenses that may
be reimbursed under such arrangement over some or all of the period
in which the reimbursement arrangement remains in effect;
(ii) the reimbursement of an eligible expense shall be made no
later than the end of the calendar year after the calendar year in
which such expense was incurred; (iii) the right to
reimbursement or in-kind benefits shall not be subject to
liquidation or exchange for another benefit; and (iv) the right to
reimbursement or provision of in-kind benefits shall not apply to
any expenses incurred or benefits to be provided beyond the last
day of the second taxable year following the year in which
Employee's Separation from Service occurred.

 

4. Arbitration.
Any controversy or claim arising out of, or related to, this
Agreement, or the breach thereof, shall be governed by the terms of
the Arbitration Agreement, which is incorporated herein by
reference.

 

5. Entire
Agreement. All oral or written agreements or representations
express or implied, with respect to the subject matter of this
Agreement are set forth in this Agreement. This Agreement contains
the entire integrated understanding between the parties hereto and
supersedes any prior employment, severance, or change-in-control
protective agreement or other agreement, plan or arrangement
between the Company or any predecessor and Employee. No provision
of this Agreement shall be interpreted to mean that Employee is
subject to receiving fewer benefits than those available to
Employee without reference to this Agreement. The Parties
acknowledge and agree that the Prior Severance Agreement is hereby
terminated and shall have no further force or effect.

 

6. Notices.
Except as otherwise provided in this Agreement, any notice,
approval, consent, waiver or other communication required or
permitted to be given or to be served upon any person in connection
with this Agreement shall be in writing. Such notice shall be
personally served, sent by fax or cable, or sent prepaid by either
registered or certified mail with return receipt requested or
Federal Express and shall be deemed given (i) if personally served
or by Federal Express, when delivered to the person to whom such
notice is addressed, (ii) if given by fax or cable, when sent, or
(iii) if given by mail, two (2) business days following deposit in
the United States mail. Any notice given by fax or cable shall be
confirmed in writing, by overnight mail or Federal Express within
forty-eight (48) hours after being sent. Such notices shall be
addressed to the party to whom such notice is to be given at the
party’s address set forth below or as such party shall
otherwise direct.

 

 

-6-

 

 

 

If to
the Company:

 

AutoWeb,
Inc.

18872
MacArthur Boulevard, Suite 200

Irvine,
California, 92612-1400

Facsimile: (949)
862-1323

Attn:
Chief Human Resources Officer

 

If to
the Employee:

 

To
Employee’s latest home address on file with the
Company

 

7. No Waiver.
No waiver, by conduct or otherwise, by any party of any term,
provision, or condition of this Agreement, shall be deemed or
construed as a further or continuing waiver of any such term,
provision, or condition nor as a waiver of a similar or dissimilar
condition or provision at the same time or at any prior or
subsequent time.

 

8. Amendment to this
Agreement. No modification, waiver, amendment, discharge or
change of this Agreement, shall be valid unless the same is in
writing and signed by the party against whom enforcement of such
modification, waiver amendment, discharge, or change is or may be
sought.

 

9. Non-Disclosure.
Unless required by applicable law, rule, regulation or order or to
enforce this Agreement, Employee shall not disclose the existence
of this Agreement or the underlying terms to any third party,
including without limitation, any former, present or future
employee of the Company, other than to Employee’s immediate
family who have a need to know such matters or to Employee’s
tax or legal advisors who have a need to know such matters. If
Employee does disclose this Agreement or any of its terms to any of
Employee’s immediate family or tax or legal advisors, then
Employee will inform them that they also must keep the existence of
this Agreement and its terms confidential. The Company may disclose
the existence or terms of the Agreement and its terms and may file
this Agreement as an exhibit to its public filings if it is
required to do so under applicable law, rule, regulation or
order.

 

10. Enforceability;
Severability. If any provision of this Agreement shall be
invalid or unenforceable, in whole or in part, such provision shall
be deemed to be modified or restricted to the extent and in the
manner necessary to render the same valid and enforceable, or shall
be deemed excised from this Agreement, as the case may require, and
this Agreement shall be construed and enforced to the maximum
extent permitted by law as if such provision had been originally
incorporated herein as so modified or restricted, or as if such
provision had not been originally incorporated herein, as the case
may be.

 

11. Governing
Law. This Agreement shall be construed and enforced in
accordance with the laws of the State of California without giving
effect to such State’s choice of law rules. This Agreement is
deemed to be entered into entirely in the State of California. This
Agreement shall not be strictly construed for or against either
party.

 

12. No Third Party
Beneficiaries. Except as otherwise set forth in this
Agreement, nothing contained in this Agreement is intended or shall
be construed to create rights running to the benefit of any third
party.

 

13. Successors of the
Company. The rights and obligations of the Company under
this Agreement shall inure to the benefit of, and shall be binding
upon, the successors and assigns of the Company, including any
Successor Company. This Agreement shall be assignable by the
Company in the event of a merger or similar transaction in which
the Company is not the surviving entity, or a sale of all or
substantially all of the Company’s assets.

 

14. Rights
Cumulative. The rights under this Agreement, or by law or
equity, shall be cumulative and may be exercised at any time and
from time to time. No failure by any party to exercise, and no
delay in exercising, any rights shall be construed or deemed to be
a waiver thereof, nor shall any single or partial exercise by any
party preclude any other or future exercise thereof or the exercise
of any other right.

 

 

 

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15. No Right or
Obligation of Employment. Employee acknowledges and agrees
that nothing in this Agreement shall confer upon Employee any right
with respect to continuation of employment by the Company, nor
shall it interfere in any way with Employee’s right or the
Company’s right to terminate Employee’s employment at
any time, with or without Cause.

 

16. Interpretation.
Every provision of this Agreement is the result of full
negotiations between the parties, both of whom have either been
represented by counsel throughout or otherwise been given an
opportunity to seek the aid of counsel. Each party hereto further
agrees and acknowledges that it is sophisticated in legal affairs
and has reviewed this Agreement in detail. Accordingly, no
provision of this Agreement shall be construed in favor of or
against any of the parties hereto by reason of the extent to which
any such party or its counsel participated in the drafting thereof.
Captions and headings of sections contained in this Agreement are
for convenience only and shall not control the meaning, effect, or
construction of this Agreement. Time periods used in this Agreement
shall mean calendar periods unless otherwise expressly
indicated.

 

17. Legal and Tax
Advice. Employee acknowledges that: (i) the Company has
encouraged Employee to consult with an attorney and/or tax advisor
of Employee’s choosing (and at Employee’s own cost and
expense) in connection with this Agreement, and (ii) Employee is
not relying upon the Company for, and the Company has not provided,
legal or tax advice to Employee in connection with this Agreement.
It is the responsibility of Employee to seek independent tax and
legal advice with regard to the tax treatment of this Agreement and
the payments and benefits that may be made or provided under this
Agreement and any other related matters. Employee acknowledges that
Employee has had a reasonable opportunity to seek and consider
advice from Employee’s counsel and tax advisors.

 

18. Counterparts.
This Agreement may be executed in any number of counterparts, each
of which shall be deemed an original, but all of which shall
constitute one instrument. The parties agree that facsimile copies
of signatures shall be deemed originals for all purposes hereof and
that a party may produce such copies, without the need to produce
original signatures, to prove the existence of this Agreement in
any proceeding brought hereunder.

 

 

[Remainder of page intentionally left blank.]

 

 

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IN WITNESS WHEREOF, the Company and
Employee have executed and entered into this Agreement effective as
of the date first shown above. 

 

 

	
 

	
 

AUTOWEB,
INC.

 

By:
/s/ Sara
Partin 

Sara
Partin

Senior
Vice President,

Chief
Human Resources Officer

 

 

EMPLOYEE

       

/s/ Joseph P.
Hannan                                                                          

 Joseph P.
Hannan

 

 

 

 

 

                                                                          

 

 

 

-9-

 

EXHIBIT A

 

SEPARATION AND RELEASE AGREEMENT

 

It is
hereby agreed by and between you, Joseph P. Hannan (for yourself,
your spouse, family, agents and attorneys) (jointly,
“You” or
“Employee”), and
AutoWeb, Inc., its predecessors, successors, affiliates, directors,
employees, shareholders, fiduciaries, insurers, employees and
agents (jointly, the “Company”), as
follows:

 

1. Separation
of Employment. You acknowledge that your employment with the
Company ended effective [_______], 201[__] (“Employment Termination Date”), and
that You will perform no further duties, functions or services for
the Company subsequent to the Employment Termination Date. You have
resigned or hereby resign from all officer and director positions
You held with the Company or any of its subsidiaries effective as
of the Employment Termination Date. This Separation and Release
Agreement (“Release”) is entered into in
connection with that certain Severance Benefits Agreement dated
effective as of December 17, 2018 by and between the Company and
Employee (“Severance Benefits
Agreement”).

 

2. Release
Consideration. In exchange for your promises and obligations
in this Release and the Severance Benefits Agreement, including the
release of claims set forth below, if You sign and do not revoke
this Release and this Release becomes effective, the Company will
pay You the amounts, and will provide the benefits, due to You
under the Severance Benefits Agreement, minus legally required
federal, state and local payroll deductions and withholdings.
Payment of any monetary amount provided for in this Section 2 will
be made within the time periods required by the Severance Benefits
Agreement (except for payments or benefits that will be paid or
provided over time as provided therein) and, if no time is
specified, within 5 business days after this Release becomes
effective.

 

3. Acknowledgement
of Receipt of Amounts Due. You acknowledge and agree that
You have received all, and that the Company does not owe You any
additional, payments, benefits or other compensation as a result of
your employment with the Company or your separation from employment
with the Company, including, but not limited to, wages,
commissions, bonuses, vacation pay, severance pay, expenses, fees,
or other compensation or payments of any kind or nature, other than
those amounts or benefits, if any, payable or to be provided to You
after the date hereof pursuant to the Severance Benefits Agreement
after this Release becomes effective.

 

4. Return
of Company Property. You represent and warrant that You have
returned to the Company any and all documents, software, equipment
(including, but not limited to, computers and computer-related
items), and all other materials or other things in your possession,
custody, or control which are the property of the Company,
including, but not limited to, Company identification, keys,
computers, cell phones, and the like, wherever such items may have
been located; as well as all copies (in whatever form thereof) of
all materials relating to your employment, or obtained or created
in the course of your employment with the Company. You hereby
represent that, other than those materials You have returned to the
Company pursuant to this Section 4, You have not copied or caused
to be copied, and have not transferred or printed-out or caused to
be transferred or printed-out, any software, computer disks,
e-mails or other documents other than those documents generally
available to the public, or retained any other materials
originating with or belonging to the Company. You further represent
that You have not retained in your possession, custody or control,
any software, documents or other materials in machine or other
readable form, which are the property of the Company, originated
with the Company, or were obtained or created in the course of or
relate to your employment with the Company.

 

5. Confidentiality
and Non-Solicitation/Interference.

 

(a)   You
shall keep confidential, and shall not hereafter use or disclose to
any person, firm, corporation, governmental agency, or other
entity, in whole or in part, at any time in the future, any trade
secret, proprietary information, or confidential information of the
Company, including, but not limited to, information relating to
trade secrets, processes, methods, pricing strategies, customer
lists, marketing plans, product introductions, advertising or
promotional programs, sales, financial results, financial records
and reports, regulatory matters and compliance, and other
confidential matters, except as required by law and as necessary
for compliance purposes. These obligations are in addition to the
obligations set forth in any confidentiality or non-disclosure
agreement between You and the Company, including, without
limitation, that certain Employee Confidentiality Agreement dated
as of December 17, 2018, which shall remain binding on You after
the Employment Termination Date.

 

 

 

-10-

 

 

(b)  
Unless required by applicable law, rule, regulation or order or to
enforce this Agreement, Employee shall not disclose the existence
of the Severance Benefits Agreement or this Release or the
underlying terms to any third party, including without limitation,
any former, present or future employee of the Company, other than
to Employee’s immediate family who have a need to know such
matters or to Employee’s tax or legal advisors who have a
need to know such matters. If Employee does disclose this Release,
the Severance Benefits Agreement or any of their respective terms
to any of Employee’s immediate family or tax or legal
advisors, then Employee will inform them that they also must keep
the existence of this Release, the Severance Benefits Agreement and
their respective terms confidential. The Company may disclose the
existence or terms of this Release, the Severance Benefits
Agreement and their respective terms and may file this Release and
the Severance Benefits Agreement as exhibits to its public filings
if it is required to do so under applicable law, rule, regulation
or order.

 

(c)   For
a period of one (1) year immediately following this Release
becoming effective, You agree that You will not interfere with
Company’s business by soliciting an employee to leave
Company’s employ, or by inducing a consultant or vendor to
sever its relationship with Company. You may not, at any time, use
the Company’s trade secrets to solicit business from any
source, including the Company’s customers or clients. This
Section 5(c) is not intended to, and shall not, prevent You from
lawful competition with the Company. You represent and warrant that
You have not engaged in any of the foregoing activities prior to
the effective date of this Release.

 

6. Nondisparagement.
You agree that neither You nor anyone acting on your behalf or at
your direction will disparage, denigrate, defame, criticize, impugn
or otherwise damage or assail the reputation or integrity of the
Company publicly or privately to any third party, including without
limitation (i) to any current or former employee, officer,
director, contractor, supplier, customer, or client of the Company;
(ii) any prospective or actual purchaser of the equity interests of
the Company or its business or assets; or (iii) to any person or
entity in the automotive industry, automotive marketing,
advertising or other services, or the automotive
press.

 

7. Unconditional
General Release of Claims.

 

(a)   In
consideration for the payment and benefits provided for in Section
2, and notwithstanding the provisions of Section 1542 of the Civil
Code of California, You unconditionally release and forever
discharge the Company, and the Company’s current, former, and
future controlling shareholders, subsidiaries, affiliates, related
companies, predecessor companies, divisions, directors, trustees,
officers, employees, agents, attorneys, successors, and assigns
(and the current, former, and future controlling shareholders,
directors, trustees, officers, employees, agents, and attorneys of
any such subsidiaries, affiliates, related companies, predecessor
companies, and divisions) (all of the foregoing released persons or
entities being referred to herein as “Releasees”), from any and all
claims, complaints, demands, actions, suits, causes of action,
obligations, damages and liabilities of whatever kind or nature,
whether known or unknown, based on any act, omission, event,
occurrence, or nonoccurrence from the beginning of time to the date
of execution of this Release, including, but not limited to, claims
that arise out of or in any way relate to your employment or your
separation from employment with the Company.

 

(b)   You
acknowledge and agree that the foregoing unconditional and general
release includes, but is not limited to, (i) any claims for salary,
bonuses, commissions, equity, compensation (except as specified in
this Agreement), wages, penalties, premiums, severance pay,
vacation pay or any benefits under the Employee Retirement Income
Security Act of 1974, as amended; (ii) any claims of harassment,
retaliation or discrimination; (iii) any claims based on any
federal, state or governmental constitution, statute, regulation or
ordinance, including, without limitation, Title VII of the Civil
Rights Act of 1964, the Civil Rights Act of 1991, the Age
Discrimination in Employment Act, the Americans With Disabilities
Act, Section 1981 of the Civil Rights Act of 1866, the California
Fair Employment and Housing Act, the California Family Rights Act,
the Family and Medical Leave Act, the California Constitution, the
California Labor Code, the California Industrial Welfare Commission
Wage Orders, the California Government Code, the Worker Adjustment
and Retraining Notification Act; (iv) whistleblower claims, claims
of breach of implied or express contract, breach of promise,
misrepresentation, negligence, fraud, estoppel, defamation,
infliction of emotional distress, violation of public policy,
wrongful or constructive discharge, or any other employment-related
tort, and any claims for costs, fees, or other expenses, including
attorneys’ fees; and (v) any other aspect of your employment
or the termination of your employment.

 

 

 

-11-

 

 

(c)   For the
purpose of implementing a full and complete release, You expressly
acknowledge and agree that this Release resolves all claims You may
have against the Company and the Releasees as of the date of this
Release, including but limited to claims that You did not know or
suspect to exist in your favor at the time of the execution of this
Release. You expressly waive any and all rights which You may have
under the provisions of Section 1542 of the California Civil
Code or any similar state or federal statute. Section 1542 provides
as follows:

 

“A general
release does not extend to claims which the creditor does not know
or suspect to exist in his or her favor at the time of executing
the release, which if known by him or her must have materially
affected his or her settlement with the debtor.”

 

(d)  This
Release will not waive the Employee’s rights to
indemnification under the Company’s certificate of
incorporation or by-laws or, if applicable, any written agreement
between the Company and the Employee, or under applicable
law.

 

(e) 
You hereby certify that
You have not experienced a job-related illness or injury for which
You have not already filed a claim.

 

(f)  
This general release does not waive or release rights or claims
arising after You sign this Release.

 

8. Covenant
Not to Sue. A
“covenant not to sue” is a promise not to sue in court.
This covenant differs from a general release of claims in that,
besides waiving and releasing the claims covered by this Release,
You represent and warrant that You have not filed, and agree that
You will not file, or cause to be filed or maintained, any judicial
complaint, lawsuit or demand for arbitration involving any claims
You have released in this Release, and You agree to withdraw any
judicial complaints, lawsuits or demands for arbitration You have
filed, or were filed on your behalf, prior to the effective date of
this Release. Still, You may sue to enforce this Release. You agree
if You breach this covenant, then You must pay the legal expenses
incurred by incurred by any Releasee in defending against your
suit, including reasonable attorneys’ fees, or, at the
Company’s option, return everything paid to You under this
Agreement. In that event, the Company shall be excused from making
any further payments or continuing any other benefits otherwise
owed to You under paragraph 2 of this Agreement. Furthermore, You
give up all rights to individual damages in connection with any
administrative or court proceeding with respect to your employment
with or termination of employment from, the Company. You also agree
that if You are awarded money damages, You will assign your right
and interest to such money damages (i) in connection with an
administrative charge, to the relevant administrative agency; and
(ii) in connection with a lawsuit or demand for arbitration, to the
Company.

 

9. Cooperation
With Company. You agree to assist and cooperate (including,
but not limited to, providing information to the Company and/or
testifying truthfully in a proceeding) in the investigation and
handling of any internal investigation, governmental matter, or
actual or threatened court action, arbitration, administrative
proceeding, or other claim involving any matter that arose during
the period of your employment.  You shall be reimbursed for
reasonable expenses actually incurred in the course of rendering
such assistance and cooperation. Your agreement to assist and
cooperate shall not affect in any way the content of information or
testimony provided by You.

 

10. No
Reemployment. You
acknowledge and agree that the Company has no obligation to employ
You or offer You employment in the future and You shall have no
recourse against the Company if it refuses to employ You or offer
You employment. If You do seek re-employment, then this Release
shall constitute sufficient cause for the Company to refuse to
re-employ You. Notwithstanding the foregoing, the Company has the
right to offer to re-employ You in the future if, in its sole
discretion, it chooses to do so.

 

11. No
Admission of Liability. This Release does not constitute an
admission that the Company or any other Releasee has violated any
law, rule, regulation, contractual right or any other duty or
obligation.

 

 

 

-12-

 

 

12. Severability.
Should any provision of this Release be declared or be determined
by any court or arbitrator to be illegal or invalid, the validity
of the remaining parts, terms, or provisions shall not be affected,
and said illegal or invalid part, term, or provision shall be
deemed not to be part of this Release.

 

13. Governing
Law. This Release is made and entered into in the State of
California and shall in all respects be interpreted, enforced, and
governed under the law of that state, without reference to conflict
of law provisions thereof.

 

14. Interpretation.
The language of all parts in this Release shall be construed as a
whole, according to fair meaning, and not strictly for or against
any party. The captions and headings contained in this Agreement
are for convenience only and shall not control the meaning, effect,
or construction of this Agreement.

 

15. Knowing
and Voluntary Agreement. You have carefully reviewed this
Release and understand the terms and conditions it contains. By
entering into this Release, You are giving up potentially valuable
legal rights. You specifically acknowledge that You are waiving and
releasing any rights You may have under the ADEA. You acknowledge
that the consideration given for this waiver and release is in
addition to anything of value to which You were already entitled.
You acknowledge that You are signing this Release knowingly and
voluntarily and intend to be bound legally by its
terms.

 

16. Entire
Agreement. You hereby acknowledge that no promise or
inducement has been offered to You, except as expressly stated in
this Release and in the Severance Benefits Agreement, and You are
relying upon none. This Release and the Severance Benefits
Agreement represent the entire agreement between You and the
Company with respect to the subject matter hereof, and supersede
any other written or oral understandings between the parties
pertaining to the subject matter hereof and may only be amended or
modified with the prior written consent of You and the
Company.

 

17. Arbitration.
Any controversy or claim arising out or, or related to, this
Release Agreement, or the breach thereof, shall be governed by the
terms of the Arbitration Agreement (as defined in the Severance
Benefits Agreement).

 

18. Protected
Rights.

 

(a) 
An individual may
not be held criminally or civilly liable under any federal or state
trade secret law for the disclosure of a trade secret that: (a) is
made (i) in confidence to a federal, state, or local government
official, either directly or indirectly, or to an attorney; and
(ii) solely for the purpose of reporting or investigating a
suspected violation of law; or (b) is made in a complaint
or other document that is filed under seal in a lawsuit or other
proceeding. Further, an individual who files a lawsuit for
retaliation by an employer for reporting a suspected violation of
law may disclose the employer’s trade secrets to the attorney
and use the trade secret information in the court proceeding if the
individual: (a) files any document containing the trade secret
under seal; and (b) does not disclose the trade secret, except
pursuant to court order.

 

(b) 
Employee understands
that nothing contained in your Confidentiality Agreement limits
Employee’s ability to file a charge or complaint with the
Equal Employment Opportunity Commission, the National Labor
Relations Board, the Occupational Safety and Health Administration,
the Securities and Exchange Commission or any other federal, state
or local governmental agency or commission (“Government
Agencies”). Employee further understands that this Agreement
does not limit Employee’s ability to communicate with any
Government Agencies or otherwise participate in any investigation
or proceeding that may be conducted by any Government Agency,
including providing documents or other information, without notice
to Company. This Agreement does not limit Employee’s right to
receive an award for information provided to any Government
Agencies.

 

 

 

-13-

 

 

19. Period
for Review and Consideration/Revocation Rights.

 

[Alternative
1 for Section 18 if Employee is NOT age 40 or over at time of
separation from employment]

 

You
understand that You have seven (7) days after this Release has been
delivered to You by the Company to decide whether to sign this
Release, although You may sign this Release at any time within the
seven (7) day period. If You do sign it, You also understand that
You will have an additional three (3) days after the date You
deliver this signed Release to the Company and to change your mind
and revoke this Release, in which case a written notice of
revocation must be delivered to the Company’s Chief Human
Officer, AutoWeb, Inc., 18872 MacArthur Blvd. Suite 200, Irvine,
California 92612-1400, on or before the third (3rd) day after your
delivery of this signed Release to the Company (or on the next
business day if the third calendar day is not a business day). You
understand that this Release will not become effective or
enforceable until after that three (3) day period has passed. If
You revoke this Release, this Release shall not be effective or
enforceable as to any rights You may have under this Release. In
the event that You revoke this Release, You will not be entitled to
the payments and benefits specified in Paragraph 2.

 

[Alternative
2 for Section 18 if Employee is age 40 or over at time of
separation from employment, separation from employment is NOT in
connection with a group separation, and ADEA Claims are being
released]

 

You
understand that You have twenty-one (21) days after this Release
has been delivered to You by the Company to decide whether to sign
this Release, although You may sign this Release at any time within
the twenty-one (21) day period. If You do sign it, You also
understand that You will have an additional seven (7) days after
the date You deliver this signed Release to the Company and to
change your mind and revoke this Release, in which case a written
notice of revocation must be delivered to the Company’s Chief
Human Resources Officer, AutoWeb, Inc., 18872 MacArthur Blvd. Suite
200, Irvine, California 92612-1400, on or before the seventh (7th)
day after your delivery of this signed Release to the Company (or
on the next business day if the seventh calendar day is not a
business day). You understand that this Release will not become
effective or enforceable until after that seven (7) day period has
passed. If You revoke this Release, this Release shall not be
effective or enforceable as to any rights You may have under this
Release. In the event that You revoke this Release, You will not be
entitled to the payments and benefits specified in Paragraph
2.

 

[Alternative
3 for Section 18 if Employee is age 40 or over at time of
separation from employment, separation from employment IS in
connection with a group termination, and ADEA Claims are being
released]

 

(a)  You
understand that You have forty-five (45) days after this Release
has been delivered to You by the Company to decide whether to sign
this Release, although You may sign this Release at any time within
the forty-five (45) day period. If You do sign it, You also
understand that You will have an additional seven (7) days after You sign to change your
mind and revoke the Agreement, in which case a written notice of
revocation must be delivered to the Company’s Chief Human
Resources Officer, AutoWeb, Inc., 18872 MacArthur Blvd. Suite 200,
Irvine, California 92612-1400, on or before the seventh (7th) day
after your delivery of this signed Release to the Company (or on
the next business day if the seventh calendar day is not a business
day). You understand that this Release will not become effective or
enforceable until after that seven (7) day period has passed. If
You revoke this Release, this Release shall not be effective or
enforceable as to any rights You may have under this Release. In
the event that You revoke this Release, You will not be entitled to
the payments and benefits specified in Paragraph 2.

 

(b)  You
acknowledge that You have received the group information of
employees included in the Company’s ____________ group
termination program, the eligibility factors for participation in
the program, and the time limits for participation in the program.
You also acknowledge that You have received lists of the ages and
job titles of employees eligible or selected for the program and
employees not eligible or selected for the group termination
program. This information is set forth on Appendix A attached
hereto and incorporated herein by reference.

 

 

 

-14-

 

 

20. Advice
of Attorney and Tax Advisor. Employee acknowledges that: (i)
the Company has advised Employee to consult with an attorney and/or
tax advisor of Employee’s choosing (and at Employee’s
own cost and expense) before executing this Release, and (ii)
Employee is not relying upon the Company for, and the Company has
not provided, legal or tax advice to Employee in connection with
this Release. It is the responsibility of Employee to seek
independent tax and legal advice with regard to the tax treatment
of this Release and the payments and benefits that may be made or
provided under this Release and any other related matters. Employee
acknowledges that Employee has had a reasonable opportunity to seek
and consider advice from Employee’s attorney and tax
advisors.

 

 

PLEASE
READ CAREFULLY. THIS RELEASE INCLUDES A GENERAL RELEASE OF ALL
CLAIMS, KNOWN AND UNKNOWN. YOU MAY NOT MAKE ANY CHANGES TO THE
TERMS OF THIS RELEASE THAT ARE NOT AGREED UPON BY THE COMPANY IN
WRITING. ANY CHANGES SHALL CONSTITUTE A REJECTION OF THIS RELEASE
BY EMPLOYEE.

 

 

 

Dated:_____________                  
   
                 
_____________________________________

                                                                            
Joseph
P. Hannan

 

Dated:_____________                               
AutoWeb Inc.

 

                                                                           
By:           __________________________________

 

                                                                                           
(Officer
Name)

                                                                                           
(Title)

 

 

 

 

-15-Exhibit
10.1

 

EXECUTION
COPY

 

BACKSTOP
AGREEMENT

 

This
Backstop Agreement (this “Agreement”) is made as of December 13, 2018 by and among (i) Draper Oakwood
Technology Acquisition, Inc., a Delaware corporation (the “Company”), (ii) DOTA Holdings Limited, a
Cayman Islands exempted company (“Pubco”), (iii) the investor identified on the signature page hereto
(“Investor”), and (iv) for certain limited purposes herein, Cowen and Company, LLC (the “Broker”),
and is intended to set forth certain representations, covenants and agreements among the Company, Pubco and Investor with respect
to the acquisition by Investor of shares of Class A Common Stock of the Company, par value $0.0001 per share (“Common
Stock”), through the open market and private transactions described in Section 2 hereof. The respective representations,
covenants and agreements set forth herein are made in connection with the Company’s proposed business combination (the “Business
Combination”) with Reebonz, Limited, a Singapore corporation (“Reebonz”), pursuant to
that certain Business Combination Agreement, dated as of September 4, 2018 (as it may be amended, the “Business Combination
Agreement”), by and among the Company, Pubco, DOTA Merger Subsidiary Inc., a Delaware corporation and a wholly owned
subsidiary of Pubco (“Merger Sub”), Draper Oakwood Investments, LLC (solely in the capacity as the Purchaser
Representative thereunder), Reebonz and the shareholders of Reebonz named therein. Prior to the Closing (as defined below), the
Company and Pubco are also entering into backstop agreements (the “Other Guaranteed Agreements”) with
other investors in the Company (the “Other Guaranteed Investors”) who will also be subject to similar
guarantees of performance and resale requirements as contemplated by this Agreement.

 

1. Transfer,
Voting and Non-Redemption of Common Stock.

 

(a) Investor
covenants and agrees that until the earlier of (i) the closing under the Business Combination Agreement (the “Closing”)
or (ii) the date on which the Business Combination Agreement is terminated in accordance with its terms (the “Termination
Date”), it shall not, and shall ensure that its Affiliates do not, Transfer any Common Stock, including any Backstop
Shares that it acquires under Section 2. For purposes hereof, (A) “Affiliate” means affiliate
as such term is defined in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
and (B) “Transfer” means any direct or indirect transfer, redemption, disposition or monetization in
any manner whatsoever, including through redemption election or any derivative transactions.

 

(b) Investor
covenants and agrees that it shall, and shall cause each of its Affiliates to, (i) vote all of the Common Stock, if any, including
any Backstop Shares, that it owns as of the record date for the special meeting of stockholders to be held by the Company to approve,
among other things, the Business Combination (the “Special Meeting”) in favor of (A) the Business Combination,
pursuant to a proxy statement filed by the Company with the Securities and Exchange Commission (the “SEC”)
in connection with the Special Meeting, as supplemented by definitive additional materials filed with the Exchange through the
date hereof (the “Proxy Statement”) and (B) each of the other proposals of the Company set forth in
the Proxy Statement, and (ii) waive and not exercise any rights that it may have to redeem or convert any Common Stock that it
owns, including any Backstop Shares that it acquires under Section 2, in connection with the redemption conducted by the
Company in accordance with the Company’s organizational documents and the final prospectus of Purchaser, dated September
14, 2017, and filed with the SEC on September 15, 2017 (File No. 333-220180) (the “IPO Prospectus”)
in conjunction with the Business Combination (the “Redemption”).

  

      
 

     

    

 

2. Backstop.
Commencing on the date hereof and through 5:00 p.m. Eastern Time on December 14, 2018 (the “Deadline”),
Investor shall (provided it is lawful to do so) purchase the number of shares of Common Stock of the Company set forth opposite
its name on the signature page hereto in the open market (the “Open Market Shares”) or in privately
negotiated transactions with third parties, including forward contracts (the “Private Purchase Shares”,
and collectively with the Open Market Shares, including any Pubco Ordinary Shares issued in exchange for shares of Common Stock
in connection with the Business Combination, the “Backstop Shares”), provided that such transactions
settle prior to the Closing. Notwithstanding anything to the contrary contained herein, any purchases of Backstop Shares by Investor
hereunder shall be effected through the Broker, subject to broker’s commissions. On the Business Day immediately following
the Deadline and promptly at other times requested by the Company from time to time, Investor will (x) notify the Company in writing
of the number of Open Market Shares and Private Purchase Shares so purchased and the aggregate purchase price paid by Investor
for such Backstop Shares (the “Aggregate Purchase Price”) and (y) provide the Company, for all Backstop
Shares acquired, all documentary evidence reasonably requested by the Company or its advisors (including legal counsel) or the
Company’s transfer agent and proxy solicitor to confirm that Investor has purchased such shares and holds such shares through
the Closing and has not submitted any such shares for redemption in connection with the Redemption. Investor acknowledges that,
in connection with the Business Combination, Pubco will issue ordinary shares, par value $0.0001 per share, of Pubco (“Pubco
Ordinary Shares”) in exchange for the outstanding Common Stock of the Company, as described in the Proxy Statement.

 

3. Escrow.
the Company and Pubco have delivered an irrevocable instruction letter in the form attached hereto as Exhibit E to Continental
Stock and Trust Company (“CST”), as trustee pursuant to the Investment Management Trust Agreement (the
“Trust Agreement”), dated as of September 14, 2017, by and between the Company and CST, instructing
CST to deliver from the Trust Account an amount (Investor’s “Escrow Amount”) equal to the number
of Backstop Shares held by Investor and not redeemed in accordance with this Agreement multiplied by the Redemption Price to a
segregated escrow account (the “Escrow Account”) with CST, as escrow agent (the “Escrow
Agent”), pursuant to an escrow agreement substantially in the form of Exhibit A hereto by and among Pubco,
the Company, Investor, the Broker and the Escrow Agent (the “Escrow Agreement”). In the event that the
Business Combination Agreement is terminated and the Closing does not occur, Investor shall retain its rights as a public holder
of Common Stock pursuant to the terms of the Trust Agreement. For purposes hereof, the “Redemption Price”
means an amount equal to the price at which each share of Common Stock is redeemed from Public Stockholders (as defined below)
pursuant to the Redemption.

 

4. Pubco
Share Issuance. In consideration of the purchase and retention by Investor of the Backstop Shares through the Closing in accordance
with the terms of this Agreement, Pubco agrees that, not later than ten (10) days following the Closing, it will issue to Investor
0.25 Pubco Ordinary Shares for each Backstop Share held and retained by Investor in accordance with the terms of this Agreement
(such Pubco Ordinary Shares, the “Additional Shares”, and together with the Backstop Shares, the “Securities”).
Pubco hereby agrees, on the terms and conditions set forth in Exhibit B hereto, to register the resale of the Additional
Shares (and any Affiliate Shares as described below) under the Securities Act of 1933, as amended (the “Securities
Act”), and the rules and regulations promulgated thereunder, and applicable state securities laws.

 

5. Restriction
on Transfer of the Additional Shares and Affiliate Shares. Investor hereby agrees that it will not, directly or indirectly,
transfer, dispose of or otherwise monetize the Additional Shares in any manner whatsoever, except pursuant to an effective registration
statement under the Securities Act with respect to such shares (the “Investor Resale Registration Statement”)
or in a transaction that is in compliance with the Securities Act and applicable state securities laws. Investor further agrees
that if at the time any sale, transfer or other disposal of Backstop Shares is to be made, Investor is an Affiliate of Pubco or
shall have been an Affiliate of Pubco at any time during the ninety (90) days immediately before such sale, transfer or other
disposal, Investor will not sell, transfer or dispose of such Backstop Shares except pursuant to the Investor Resale Registration
Statement or other effective registration statement under the Securities Act covering the sale of such Backstop Shares (such Backstop
Shares when Investor is or has been an Affiliate of Pubco as described in this sentence, “Affiliate Shares”)
or in a transaction that is in compliance with the Securities Act and applicable state securities laws. Except as provided in
this Agreement, it shall be a condition to any such transfer described in this Section 5 (other than pursuant to the effective
Investor Resale Registration Statement) that Pubco shall be furnished with a written opinion of counsel to the holder of such
Additional Shares or Affiliate Shares, reasonably satisfactory to Pubco, to the effect that the proposed transfer would be in
compliance with the Securities Act and applicable state securities laws.

  

    2

     

    

 

6. Resale
of Shares.

 

(a) Investor
acknowledges that the Broker has been engaged by Investor to (i) purchase the Backstop Shares on behalf of Investor prior to the
Deadline and allow sufficient time for the settlement of such purchases prior to the Closing in accordance with Section 2
and (ii) sell the Backstop Shares (and, following the effectiveness of the Investor Resale Registration Statement, the Additional
Shares and Affiliate Shares) in the open market on behalf of Investor (and Other Guaranteed Investors) during the ninety (90)
day period following the Closing (the “Resale Period”). Investor agrees that from the Broker’s
engagement by the Investor until the end of the Resale Period, Investor may not terminate Broker’s engagement without the
prior written consent of Pubco and the Company (not to be unreasonably withheld, delayed or conditioned, and in any event only
with the appointment of a replacement broker that is reasonably acceptable to Pubco and the Company to act as “Broker”
on behalf of Investor hereunder). At its sole discretion, Pubco may reduce the Resale Period by up to thirty (30) days; provided,
that (i) no such reduction in the Resale Period shall make the resale period end less than five (5) Trading Days after the Investor
Resale Registration Statement has become effective, and (ii) Pubco may not reduce the Resale Period for any Other Guaranteed Investor
unless it also reduces the Resale Period under this Agreement.

 

(b) Investor
hereby acknowledges and agrees that pursuant to this Agreement, it is giving standing instructions to the Broker during the Resale
Period to sell its Securities in accordance with the terms and conditions set forth on Exhibit C hereto (the “Sale
Conditions”). For the avoidance of doubt, during the Resale Period, without the prior written consent of Pubco,
Investor may not sell any Securities except through the Broker in accordance with the Sale Conditions.

 

(c) Investor
shall provide a written report to Pubco, no less than weekly, with the total number of Backstop Shares and Additional Shares it
has sold through the Broker, and the net proceeds (net of broker’s commissions) from such sales (“Net Proceeds”),
and shall provide a final written report with respect to such matters on at the close of trading on the last day of the Resale
Period (or on the next Business Day if such date is not a Business Day), in each case, along with reasonable backup documentation
provided by the Broker for such sales and other backup documentation reasonably requested by Pubco. In the event that at the end
of the Resale Period the Broker has not been able to sell all of the Securities in the open market in accordance with this Agreement,
Pubco shall purchase any remaining unsold Securities from the Broker on behalf of Investor at a price per share equal to the VWAP
(as defined in the Business Combination Agreement) of the Pubco Ordinary Shares over the ten (10) Trading Days ending on the close
of business on the principal securities exchange or securities market on which the Pubco Ordinary Shares are then traded as of
the last day of the Resale Period (as equitably adjusted for share splits or dividends, combinations, recapitalizations and the
like during such ten Trading Day period); provided, that in no event shall Pubco be obligated to purchase any remaining unsold
Securities from the Broker to the extent that the Net Proceeds from any such sale would be in excess of the Guaranteed Amount
with respect to such Securities. For purposes of this Agreement, (i) a “Business Day” shall mean any
day that is not a Saturday, a Sunday or a day on which commercial banks in New York City are required or authorized to be closed,
and (ii) a “Trading Day” shall mean a day during which trading in the Common Stock generally occurs
on the NASDAQ Capital Market or, if the Common Stock is not listed on the NASDAQ Capital Market, on the principal other national
or regional securities exchange on which the Common Stock is then listed or, if the Common Stock is not listed on a national or
regional securities exchange, on the principal other market on which the Common Stock is then listed or admitted for trading.
Any funds held of the account of Investor in the Broker Account after the sale of Securities may be removed from the Broker Account
at any time during or after the Resale Period. Investor acknowledges that it is a sophisticated investor engaged in the business
of assessing and assuming investment risks with respect to securities, including Pubco’s securities, and further acknowledges
in the event that Pubco is required or permitted to repurchase its securities pursuant to this Section 6(c) or Exhibit
C, Investor understands and acknowledges that Pubco may have material non-public information of or regarding Pubco or its
securities (“Non-Public Information”), which Non-Public Information may be material to a reasonable
investor when making an investment decision. Investor hereby waives any claim, or potential claim, it has or may have against
Pubco or Pubco’s Representatives relating to Pubco’s possession of Non-Public Information in connection with Pubco’s
purchase of any Pubco securities from Investor pursuant to this Section 6(c) or Exhibit C.

  

    3

     

    

 

7. Guaranty.

 

(a) Pubco
hereby guarantees to Investor, subject to the provisions hereof, that the aggregate Net Proceeds received by Investor from all
sales of Investor’s Backstop Shares and Additional Shares (including repurchases by Pubco pursuant to the last sentence
of Section 6) shall be not less than one hundred and ten percent (110%) of Investor’s Aggregate Purchase Price (the
“Guaranteed Amount”).

 

(b) In
the event that the Net Proceeds received by Investor as of the second Business Day after the end of the Resale Period shall be
less than Investor’s Guaranteed Amount (the “Shortfall”), the Broker shall, on the second Business
Day after the end of the Resale Period instruct the Escrow Agent in accordance with the Escrow Agreement to pay (i) to Investor’s
brokerage account with the Broker (the “Broker Account”), the aggregate amount of the Shortfall and
(ii) to Pubco the remaining balance of the funds in the Escrow Account. In any event, Investor shall be entitled to any interest,
dividends, gains and other income on the Escrow Amount while held in the Escrow Account (“Earnings”),
and on the final distribution of funds in the Escrow Account (but in no event later than the second Business Day after the end
of the Resale Period), the Broker shall instruct the Escrow Agent in accordance with the Escrow Agreement to pay the Earnings
to the Broker Account.

 

(c) Upon
making such payment to the Broker Account, Pubco shall have no continuing obligations under this Section 7 with respect
to such amounts paid, and Investor’s sole recourse should it not receive the portion of the Shortfall paid to the Broker
Account shall be to seek payment from the Broker, and Investor shall have in no circumstance have recourse against Pubco or its
officers or directors.

 

8. Representations,
Warranties, Understandings, Risk Acknowledgments, and Covenants of Investor. Investor hereby represents, warrants and covenants
to the Company and Pubco as follows:

 

(a) Investor
will be purchasing the Backstop Shares and receiving the Additional Shares for its own account, not as a nominee or agent. Investor
will not sell, assign or transfer any Securities at any time in violation of the Securities Act or applicable state securities
laws. Investor acknowledges that the Additional Shares and Affiliate Shares cannot be sold unless subsequently registered under
the Securities Act and applicable state securities laws or an exemption from such registration is available. Investor understands
that the Additional Shares (A) have not been registered under the Securities Act or any state securities laws, (B) have been offered
and will be sold in reliance upon an exemption from the registration and prospectus delivery requirements of the Securities Act,
and (C) will be issued in reliance upon exemptions from the registration and prospectus delivery requirements of state securities
laws which relate to private offerings. Pursuant to the foregoing, Investor acknowledges that until such time as the resale of
the Additional Shares and any Affiliate Shares have been registered under the Securities Act as contemplated hereby or may otherwise
may be sold pursuant to an exemption from registration, the certificates representing any Additional Shares or Affiliate Shares
acquired or held by Investor shall bear a customary restrictive legend (and a stop-transfer order may be placed against transfer
of the certificates evidencing such Additional Shares and Affiliate Shares) reflecting such limitations in form and substance
reasonably acceptable to Pubco. Additionally, Investor acknowledges that the Securities may include additional legends in form
and substance reasonably acceptable to Pubco reflecting the transfer restrictions under this Agreement that apply during the Resale
Period.

  

    4

     

    

 

(b) Investor
has knowledge, skill and experience in financial, business and investment matters relating to an investment of this type and is
capable of evaluating the merits and risks of such investment and protecting Investor’s interest in connection with the
acquisition of the Securities. Investor understands that the acquisition of the Securities is a speculative investment and involves
substantial risks and that Investor could lose its entire investment. Further, Investor has (i) carefully read and considered
the risks identified in the Disclosure Documents (as defined below) and (ii) carefully considered the risks related to the Business
Combination, the Company, Pubco and Reebonz and has taken full cognizance of and understands all of the risks related to the Company,
Pubco, Reebonz, the Business Combination, the Securities and the transactions contemplated hereby, including the purchase of the
Securities. Acknowledging the very significant tax impact analysis and other analyses that is warranted in determining the consequences
to it of purchasing and owning the Securities, to the extent deemed necessary by Investor, Investor has had the opportunity to
retain, at its own expense, and relied upon, appropriate professional advice regarding the investment, tax and legal merits and
consequences of the foregoing, including purchasing and owning the Securities. Investor has the ability to bear the economic risks
of Investor’s investment in the Company, including a complete loss of the investment, and Investor has no need for liquidity
in such investment.

 

(c) Investor
has been furnished by the Company and Pubco all information (or provided access to all information it reasonably requested) regarding
the business and financial condition of the Company, Pubco, Reebonz, the expected plans for future business activities, and the
merits and risks of an investment in the Securities which Investor has reasonably requested or otherwise needs to evaluate the
investment in the Securities. Investor is in receipt of and has carefully read and understands the following items (collectively,
the “Disclosure Documents”): (i) the IPO Prospectus; (ii) each filing made by the Company and Pubco
with the SEC following the filing of the IPO Prospectus through the date of this Agreement; (iii) the Business Combination Agreement
(including any amendment thereto), a copy of which has been filed by the Company with the SEC; and (iv) the Proxy Statement and
the matters proposed to be voted on pursuant thereto, a copy of which has been filed by the Company with the SEC. Investor understands
the significant extent to which certain of the disclosures contained in items (i) and (ii) above shall no longer apply following
the Closing. Investor acknowledges that none of the Company, Pubco nor Reebonz nor any of respective Affiliates has made or makes
any representation or warranty to Investor in respect of the Company, Pubco, Reebonz or the Business Combination, other than the
representations and warranties contained in this Agreement.

 

(d) In
making its investment decision to acquire the Securities, Investor is relying solely on investigations made by Investor and its
Representatives. The offer to sell the Additional Shares was communicated to Investor in such a manner that Investor was able
to ask questions of and receive answers from the management of the Company and Pubco concerning the terms and conditions of the
proposed transaction and that at no time was Investor presented with or solicited by or through any advertisement, article, leaflet,
public promotional meeting, notice or other communication published in any newspaper, magazine or similar media or broadcast over
television or radio or presented at any seminar or meeting or any other form of general or public advertising or solicitation.

  

    5

     

    

 

(e) Investor
acknowledges that it has been advised that: (i) The Securities have not been approved or disapproved by the SEC or any state securities
commission nor has the SEC or any state securities commission passed upon the accuracy or adequacy of any representations by the
Company. Any representation to the contrary is a criminal offense. (ii) In making an investment decision, Investor must rely on
its own examination of the Company, Pubco, Reebonz, the Business Combination, and the Securities, including the merits and risks
involved. The Securities have not been recommended by any federal or state securities commission or regulatory authority. Furthermore,
the foregoing authorities have not confirmed the accuracy or determined the adequacy of any representation. Any representation
to the contrary is a criminal offense. (iii) The Additional Shares and Affiliate Shares will be “restricted securities”
within the meaning of Rule 144 under the Securities Act, are subject to restrictions on transferability and resale and may not
be transferred or resold except as permitted under the Securities Act and applicable state securities laws, pursuant to registration
or exemption therefrom. Investor is aware of the provisions of Rule 144 are not currently available and, in the future, may not
become available for resale of any of the Additional Shares and Affiliate Shares and that the Pubco is an issuer subject to Rule
144(i) under the Securities Act.

 

(f) Investor
further represents and warrants that it is a “qualified institutional buyer” within the meaning of Rule 144A under
the Securities Act or an “accredited investor” within the meaning of Rule 501 of Regulation D under the Securities
Act, and Investor has executed the Investor Questionnaire attached hereto as Exhibit D (the “Investor Questionnaire”)
and shall provide to the Company and Pubco an updated Investor Questionnaire for any change in circumstances at any time on or
prior to the Closing. As of the date of this Agreement and at all times during the Resale Period, Investor and its Affiliates
do not have, and during the 30 day period prior to the date of this Agreement, Investor and its Affiliates have not, in a seller,
transferor or other similar capacity, entered into, any “put equivalent position” as such term is defined in Rule
16a-1 of under the Exchange Act or short sale positions with respect to the securities of the Company or, following the Closing,
the securities of Pubco. In addition, Investor shall comply with all applicable provisions of Regulation M promulgated under the
Securities Act.

 

(g) If
Investor is a natural person, he or she has reached the age of majority in the state in which Investor resides, has adequate means
of providing for Investor’s current financial needs and contingencies, is able to bear the substantial economic risks of
an investment in the Securities for an indefinite period of time, has no need for liquidity in such investment and, at the present
time, could afford a complete loss of such investment. If Investor is a partnership, corporation, trust, estate or other entity
(an “Entity”): (i) such Entity has the full legal right and power and all authority and approval required
(a) to execute and deliver, or authorize execution and delivery of, this Agreement and all other instruments executed and delivered
by or on behalf of such Entity in connection with the acquisition of the Securities, (b) to delegate authority pursuant to power
of attorney and (c) to acquire and hold such Securities; (ii) the signature of the party signing on behalf of such Entity is binding
upon such Entity; and (iii) such Entity has not been formed for the specific purpose of acquiring such Securities unless each
beneficial owner of such entity is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities
Act, is qualified as an accredited investor within the meaning of Rule 501(a) of Regulation D promulgated under the Securities
Act and has submitted information substantiating such individual qualification. If Investor is a retirement plan or is investing
on behalf of a retirement plan, Investor acknowledges that investment in the Securities poses additional risks including the inability
to use losses generated by an investment in the Securities to offset taxable income.

 

(h) This
Agreement has been duly authorized, executed and delivered by Investor and constitutes a legal, valid and binding obligation of
Investor enforceable against Investor in accordance with its terms, except as such enforceability may be limited by: (i) applicable
bankruptcy, insolvency, reorganization, moratorium or other similar laws in effect that limit creditors’ rights generally;
(ii) equitable limitations on the availability of specific remedies; (iii) principles of equity (regardless of whether such enforcement
is considered in a proceeding in law or in equity); and (iv) to the extent rights to indemnification and contribution may be limited
by federal securities laws or the public policy underlying such laws (collectively, the “Enforceability Exceptions”).

  

    6

     

    

 

(i) Investor
understands and confirms that the Company and Pubco will rely on the representations and covenants contained herein in effecting
the transactions contemplated by this Agreement. All representations and warranties provided to the Company furnished by or on
behalf of Investor, taken as a whole, are true and correct and do not contain any untrue statement of material fact or omit to
state any material fact necessary in order to make the statements made therein, in the light of the circumstances under which
they were made, not misleading. Investor agrees to furnish the Company and Pubco with such other information as either of them
may reasonably request in order to verify the accuracy of the information contained herein and agrees to notify the Company and
Pubco immediately of any material change in the information provided herein that occurs prior to the acceptance of this Agreement
by the Company and Pubco.

 

(j) Neither
Investor nor, to the extent it has them, any of its shareholders, members, managers, general or limited partners, directors, Affiliates
or executive officers (collectively with Investor, the “Covered Persons”), are subject to any of the
“Bad Actor” disqualifications described in Rule 506(d) under the Securities Act (a “Disqualification Event”),
except for a Disqualification Event covered by Rule 506(d)(2) or (d)(3). Investor has exercised reasonable care to determine whether
any Covered Person is subject to a Disqualification Event. The acquisition of Securities by Investor will not subject the Company
to any Disqualification Event.

 

9. Representations,
Warranties, Understandings, Risk Acknowledgments, and Covenants of Pubco and the Company. Each of Pubco and the Company hereby
represents, warrants and covenants to Investor as follows:

 

(a) Subject
to obtaining all required approvals necessary in connection with the consummation and performance of the Business Combination
Agreement (including the approval by the Company’s stockholders at the Special Meeting of the matters described in clauses
(i)(A) and (B) of Section 1(b)), (i) each of Pubco and the Company has all requisite corporate power and authority to enter into
and perform it obligations under this Agreement and the Escrow Agreement, and (ii) the delivery and performance of this Agreement
and the Escrow Agreement by Pubco and the Company and the consummation by each of them of the transactions contemplated hereby
and thereby have been duly and validly authorized by all requisite corporate action, and no other proceedings on Pubco’s
or the Company’s part are necessary to authorize the execution, delivery or performance of this Agreement or the Escrow
Agreement. This Agreement has been, and upon its execution and delivery by Pubco and the Company the Escrow Agreement shall be,
duly authorized, executed and delivered by each of Pubco and the Company and, assuming the due authorization, execution and delivery
of this Agreement and the Escrow Agreement by the other parties hereto and thereto, constitutes a legal, valid and binding obligation
of each such party enforceable against such party in accordance with its terms, except as such enforceability may be limited by
the Enforceability Exceptions.

 

(b) The
Additional Shares shall have been duly and validly authorized for issuance and sale to Investor and, when issued to Investor in
the manner contemplated by this Agreement, will be duly and validly issued, and will be sold free and clear of any and all liens
and encumbrances other than those imposed by Pubco’s organizational documents, this Agreement and applicable securities
laws or as otherwise created by Investor.

 

(c) After
the Closing and after giving effect to the transactions contemplated by this Agreement and the Other Guaranteed Agreements to
occur in connection with the Closing, Pubco, together with its subsidiaries, will not be insolvent.

  

    7

     

    

 

10. Waiver
Against Trust. Investor understands that, as described in the IPO Prospectus, the Company has established a trust account
(the “Trust Account”) containing the proceeds of its initial public offering (the “IPO”)
and the overallotment shares acquired by its underwriters and from certain private placements occurring simultaneously with the
IPO (including interest accrued from time to time thereon) for the benefit of the Company’s public stockholders and underwriters
(the “Public Stockholders”), and that, except as otherwise described in the IPO Prospectus, the Company
may disburse monies from the Trust Account only: (a) to the Public Stockholders in the event they elect to redeem their Common
Stock in connection with the consummation of the Company’s initial business combination (as such term is used in the IPO
Prospectus), (b) to the Public Stockholders if the Company fails to consummate its initial business combination within twelve
(12) months (or up to twenty (21) months if extended pursuant to the terms of its organizational documents) after the closing
of the IPO, (c) to pay any taxes and for working capital purposes from the interest accrued in the Trust Account, and (d) to the
Company after or concurrently with the consummation of its initial business combination. For and in consideration of the Company
entering into this Agreement and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
Investor hereby agrees on behalf of itself and its Affiliates that, notwithstanding anything to the contrary in this Agreement,
neither Investor nor its Affiliates do now or shall at any time hereafter have any right, title, interest or claim of any kind
in or to any monies in the Trust Account or distributions therefrom, or make any claim against the Trust Account (including any
distributions therefrom), regardless of whether such claim arises as a result of, in connection with or relating in any way to,
this agreement or any proposed or actual business relationship between the Company or its Representatives, on the one hand, and
Investor or its Representatives, on the other hand, or any other matter, and regardless of whether such claim arises based on
contract, tort, equity or any other theory of legal liability (“Released Claims”). Investor on behalf
of itself and its Affiliates hereby irrevocably waives any Released Claims that Investor or its Affiliates may have against the
Trust Account (including any distributions therefrom) now or in the future as a result of, or arising out of, any negotiations,
contracts or agreements with the Company or its Representatives and will not seek recourse against the Trust Account (including
any distributions therefrom) for any reason whatsoever. Investor agrees and acknowledges that such irrevocable waiver is material
to this Agreement and specifically relied upon by the Company and its Affiliates to induce the Company to enter in this Agreement,
and Investor further intends and understands such waiver to be valid, binding and enforceable against Investor and each of its
Affiliates under applicable law. Notwithstanding the foregoing, this Section 10 shall not affect any rights of the Investor
or its Affiliates as a Public Stockholder to receive distributions from the Trust Account in its capacity as a Public Stockholder
(but subject to the agreements of Investor in Section 1(b)). Notwithstanding anything to the contrary contained in this
Agreement, this Section 10 shall survive termination or expiration of this Agreement for any reason. For purposes of this
Agreement, the term “Representatives” shall mean, with respect to any party, its Affiliates and the
respective officers, directors, managers, employees, consultants, advisors, agents and other legal representatives of such party
and its Affiliates.

 

11. Expenses.
Each party hereto shall pay all of its own expenses in connection with this Agreement and the transactions contemplated hereby.

 

12. Survival.
All representations, warranties and covenants of Investor contained in Section 8 of this Agreement and of Pubco and the
Company contained in Section 9 of this Agreement shall survive until the earlier of (a) the Closing and (b) the Termination
Date. Investor acknowledges the meaning and legal consequences of the representations, warranties and covenants contained herein
and that the Company and Pubco have relied upon such representations, warranties and covenants in determining Investor’s
qualification and suitability to purchase or acquire the Securities.

  

    8

     

    

 

13. Notices.
All notices, consents, waivers and other communications hereunder will be in writing and will be deemed to have been duly given
when delivered (i) in person, (ii) by facsimile or other electronic means, with affirmative confirmation of receipt, (iii) one
(1) Business Day after being sent, if sent by reputable, nationally recognized overnight courier service or (iv) three (3) Business
Days after being mailed, if sent by registered or certified mail, pre-paid and return receipt requested, in each case to the applicable
party at the following addresses (or at such other address as shall be specified by like notice):

 

	If
        to the Company or Pubco at or prior to the Closing, to:

         

        Draper
        Oakwood Technology Acquisition, Inc.

        c/o Draper Oakwood Investments, LLC

        55 East 3rd Ave.

        San Mateo, CA 94401, USA

        Attn: Aamer Sarfraz

        Telephone No.: +44-777-049-0449

        Email: aamer@draperoakwood.com
	with
        copies (which will not constitute notice) to:

         

        Ellenoff
        Grossman & Schole LLP

        1345 Avenue of the Americas, 11th Floor

        New York, New York 10105, USA

        Attn: Stuart Neuhauser, Esq. and Douglas Ellenoff, Esq.

        Facsimile No.: (212) 370-7889

        Telephone No.: (212) 370-1300

        Email: sneuhauser@egsllp.com; ellenoff@egsllp.com

         

        and

         

        Reebonz
        Limited

        5 Tampines North Drive 5

        Singapore 528548

        Attn: Samuel Lim Kok Eng

        Facsimile No.: 011 65 6499 9443

        Telephone No.: 011 65 6511 8475

        Email: samuel.lim@reebonz.com

         

        and

         

        Dentons
        Rodyk & Davidson LLP

        80 Raffles Place, #33-00 UOB Plaza 1

        Singapore 048624

        Attn: S. Sivanesan

        Facsimile No.: 011 65 6532 1838

        Telephone No.: 011 65 6885 3685

        Email: sivanesan.s@dentons.com

         

	If
        to the Company or Pubco after the Closing, to:

         

        Reebonz
        Holding Limited

        5 Tampines North Drive 5

        Singapore 528548

        Attn: Samuel Lim Kok Eng

        Facsimile No.: 011 65 6499 9443

        Telephone No.: 011 65 6511 8475

        Email: samuel.lim@reebonz.com
	with
        copies (which will not constitute notice) to:

         

        Dentons
        Rodyk & Davidson LLP

        80 Raffles Place, #33-00 UOB Plaza 1

        Singapore 048624

        Attn: S. Sivanesan

        Facsimile No.: 011 65 6532 1838

        Telephone No.: 011 65 6885 3685

        Email: sivanesan.s@dentons.com

         

        and

         

        Draper
        Oakwood Investments, LLC

        55 East 3rd Ave.

        San Mateo, CA 94401, USA

        Attn: Aamer Sarfraz

        Telephone No.: +44-777-049-0449

        Email: aamer@draperoakwood.com

         

        and

         

        Ellenoff
        Grossman & Schole LLP

        1345 Avenue of the Americas, 11th Floor

        New York, New York 10105, USA

        Attn: Stuart Neuhauser, Esq. and Douglas Ellenoff, Esq.

        Facsimile No.: (212) 370-7889

        Telephone No.: (212) 370-1300

        Email: sneuhauser@egsllp.com; ellenoff@egsllp.com

  

    9

     

    

 

	
        If to the Broker to:

         

        Cowen and Company, LLC

        262 Harbor Drive

        Stamford, CT. 06902

        Attn: Tim Manning, Managing Director Special Situations

        Telephone No.: __________________

        Email: __________________________

         

	If to Investor, to the address of Investor set forth on the signature page hereto.

 

14. Notification
of Changes. Investor agrees to notify the Company and Pubco immediately upon the occurrence of any event that would cause
any representation, warranty, covenant or other statement contained in this Agreement to be false or incorrect or of any change
in any statement made herein.

 

15. Entire
Agreement; Amendments; Waiver. This Agreement, together with the exhibits hereto, constitutes the entire agreement of Investor,
the Company, Pubco and the Broker relating to the matters contained herein and therein, superseding all prior contracts or agreements,
whether oral or written; provided, that the foregoing will not affect any confidentiality obligations of Investor to the Company,
Pubco or Reebonz pursuant to any confidentiality agreements entered into by Investor prior to the date hereof. This Agreement
may not be amended, modified or terminated except by an instrument in writing signed by the Company, Pubco and Investor, and with
respect to Sections 6(b) and 7(b) hereof and Exhibit C hereto, the Broker. This Agreement may not be waived
except by an instrument in writing signed by the party against whom enforcement of waiver is sought.

 

16. Assignment;
Binding Effect. This Agreement shall not be assigned without the prior written consent of the Company, Pubco and Investor
(not to be unreasonably withheld, delayed or conditioned), and any assignment without such consent shall be null and void ab initio.
Except as otherwise provided herein, this Agreement shall be binding upon and inure to the benefit of the parties and their heirs,
successors and assigns, and the agreements, representations, warranties and acknowledgments contained herein shall be deemed to
be made by and be binding upon such heirs, executors, administrators, successors, legal representatives and assigns. This Agreement
does not confer any rights or remedies upon any person or entity other than the parties hereto and their heirs, successors and
permitted assigns, provided, however, that Reebonz is an intended third-party beneficiary of this Agreement, and each party hereby
acknowledges and agrees that Reebonz has the right prior to the Closing to cause the Company and Pubco to enforce their respective
rights and perform their respective obligations under this Agreement.

 

17. Arbitration.
Any and all disputes, controversies and claims (other than applications for a temporary restraining order, preliminary injunction,
permanent injunction or other equitable relief or application for enforcement of a resolution under this Section 17) arising
out of, related to, or in connection with this Agreement or the transactions contemplated hereby (a “Dispute”)
shall be governed by this Section 17. A party must, in the first instance, provide written notice of any Disputes to the
other parties subject to such Dispute, which notice must provide a reasonably detailed description of the matters subject to the
Dispute. The parties involved in such Dispute shall seek to resolve the Dispute on an amicable basis within ten (10) Business
Days of the notice of such Dispute being received by such other parties subject to such Dispute (the “Resolution Period”);
provided, that if any Dispute would reasonably be expected to have become moot or otherwise irrelevant if not decided within sixty
(60) days after the occurrence of such Dispute, then there shall be no Resolution Period with respect to such Dispute. Any Dispute
that is not resolved during the Resolution Period may immediately be referred to and finally resolved by arbitration pursuant
to the then-existing Expedited Procedures (as defined in the AAA Procedures) of the Commercial Arbitration Rules (the “AAA
Procedures”) of the AAA. Any party involved in such Dispute may submit the Dispute to the AAA to commence the proceedings
after the Resolution Period. To the extent that the AAA Procedures and this Agreement are in conflict, the terms of this Agreement
shall control. The arbitration shall be conducted by one arbitrator nominated by the AAA promptly (but in any event within five
(5) Business Days) after the submission of the Dispute to the AAA and reasonably acceptable to each party subject to the Dispute.
The arbitrator shall accept his or her appointment and begin the arbitration process promptly (but in any event within five (5)
Business Days) after his or her nomination and acceptance by the parties subject to the Dispute. The proceedings shall be streamlined
and efficient. The arbitrator shall decide the Dispute in accordance with the substantive law of the state of New York. Time is
of the essence. Each party subject to the Dispute shall submit a proposal for resolution of the Dispute to the arbitrator within
twenty (20) days after confirmation of the appointment of the arbitrator. The arbitrator shall have the power to order any party
to do, or to refrain from doing, anything consistent with this Agreement, the Escrow Agreement and applicable law, including to
perform its contractual obligation(s); provided, that the arbitrator shall be limited to ordering pursuant to the foregoing power
(and, for the avoidance of doubt, shall order) the relevant party (or parties, as applicable) to comply with only one or the other
of the proposals. The arbitrator’s award shall be in writing and shall include a reasonable explanation of the arbitrator’s
reason(s) for selecting one or the other proposal. The seat of arbitration shall be in New York County, State of New York. The
language of the arbitration shall be English.

  

    10

     

    

 

18. Governing
Law; Jurisdiction; WAIVER OF JURY TRIAL. This Agreement shall be governed by, construed and enforced in accordance with the
laws of the State of New York without regard to the conflict of laws principles thereof. Subject to Section 17, any action,
litigation, claim or other legal proceeding (a “Proceeding”) arising out of or relating to this Agreement
shall be heard and determined exclusively in any state or federal court located in New York, New York (or in any appellate court
thereof) (the “Specified Courts”). Subject to Section 17, each party hereto (and Reebonz to the
extent of its third party beneficiary rights) hereby (a) submits to the exclusive jurisdiction of any Specified Court for the
purpose of any Proceeding arising out of or relating to this Agreement and (b) irrevocably waives, and agrees not to assert by
way of motion, defense or otherwise, in any such Proceeding, any claim that it is not subject personally to the jurisdiction of
the above-named courts, that its property is exempt or immune from attachment or execution, that the Proceeding is brought in
an inconvenient forum, that the venue of the Proceeding is improper, or that this Agreement or the transactions contemplated hereby
may not be enforced in or by any Specified Court. Each party (and Reebonz to the extent of its third party beneficiary rights)
agrees that a final judgment in any Proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment
or in any other manner provided by law. Each party irrevocably consents to the service of the summons and complaint and any other
process in any other Proceeding relating to the transactions contemplated by this Agreement, on behalf of itself, or its property,
by personal delivery of copies of such process to such party at the applicable address set forth in Section 13. Nothing
in this Section 18 shall affect the right of any party to serve legal process in any other manner permitted by law. Each
party hereto (and Reebonz to the extent of its third party beneficiary rights) hereby waives to the fullest extent permitted by
applicable law any right it may have to a trial by jury with respect to any Proceeding directly or indirectly arising out of,
under or in connection with this Agreement or the transactions contemplated hereby.

 

19. Specific
Performance. Each party acknowledges that the rights of each party to consummate the transactions contemplated by this Agreement
are unique, recognizes and affirms that in the event of a breach of this Agreement by any party, money damages may be inadequate
and the non-breaching party (or Reebonz) may have not adequate remedy at law, and agree that irreparable damage would occur in
the event that any of the provisions of this Agreement were not performed by an applicable party in accordance with their specific
terms or were otherwise breached. Accordingly, each party (and Reebonz as a third party beneficiary) shall be entitled to seek
an injunction or restraining order to prevent breaches of this Agreement and to seek to enforce specifically the terms and provisions
hereof, without the requirement to post any bond or other security or to prove that money damages would be inadequate, this being
in addition to any other right or remedy to which such party may be entitled under this Agreement, at law or in equity.

  

    11

     

    

 

20. Severability.
In case any provision in this Agreement shall be held invalid, illegal or unenforceable in a jurisdiction, such provision shall
be modified or deleted, as to the jurisdiction involved, only to the extent necessary to render the same valid, legal and enforceable,
and the validity, legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired
thereby nor shall the validity, legality or enforceability of such provision be affected thereby in any other jurisdiction. Upon
such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties will substitute
for any invalid, illegal or unenforceable provision a suitable and equitable provision that carries out, so far as may be valid,
legal and enforceable, the intent and purpose of such invalid, illegal or unenforceable provision.

 

21. Further
Assurances. From time to time, at another party’s request and without further consideration (but at the requesting party’s
reasonable cost and expense), each party shall execute and deliver such additional documents and take all such further action
as may be reasonably necessary to consummate the transactions contemplated by this Agreement.

 

22. Interpretation.
The headings, titles and subtitles used in this Agreement are for convenience only and are not to be considered in construing
or interpreting this Agreement. In this Agreement, unless the context otherwise requires: (i) any pronoun used in this Agreement
shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall
include the plural and vice versa; (ii) “including” (and with correlative meaning “include”) means including
without limiting the generality of any description preceding or succeeding such term and shall be deemed in each case to be followed
by the words “without limitation”; (iii) the words “herein,” “hereto,” and “hereby”
and other words of similar import shall be deemed in each case to refer to this Agreement as a whole and not to any particular
section or other subdivision of this Agreement; and (iv) the term “Dollars” or “$” means U.S. dollars.
The parties have participated jointly in the negotiation and drafting of this Agreement. Consequently, in the event an ambiguity
or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto,
and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision
of this Agreement.

 

23. Counsel.
Investor hereby acknowledges that the Company and Pubco and their respective counsel represent the interests of the Company and
Pubco, respectively, and not those of Investor in any agreement (including this Agreement) to which the Company or Pubco is a
party.

 

24. Information;
Confidentiality. Without limiting any pre-existing confidentiality obligations of Investor, Investor agrees that it will not,
until the Closing, without the Company’s and Pubco’s prior written consent, disclose to any other person or entity
the nature, extent or fact that Investor is entering this Agreement or the terms and conditions hereof, or any information Investor
may receive in connection with this Agreement (in each case to the extent the Company or Pubco or their respective Representatives
have communicated the confidentiality thereof) other than (a) pursuant to the order of any court or administrative agency or in
any pending legal or administrative proceeding, or otherwise as required by applicable law or compulsory legal process (in which
case Investor agrees, to the extent not prohibited by applicable law, to inform the Company and Pubco promptly thereof prior to
such disclosure and cooperate with any efforts by the Company or Pubco to prevent or limit such disclosure), (b) to the extent
that such information is or becomes publicly available other than by reason of disclosure by Investor or its Representatives in
violation of this Agreement, or (c) to Investor’s Representatives who need to know such information and who are informed
of the confidential nature of such information and are obligated to keep such information confidential. Investor will cause its
Representatives to comply with the confidentiality provisions of this Agreement as fully as if they were a party hereto and will
be responsible for a breach of the confidentiality provisions of this Agreement by any such Representatives. In addition, Investor
shall not, for a period of six (6) months from the date hereof, make any public disclosure of the nature, extent or fact that
Investor is entering this Agreement or the terms and conditions hereof, without the prior written consent of the Company and Pubco.

 

25. Counterparts;
Facsimile. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall
be deemed to be an original and all of which together shall be deemed to be one and the same agreement. A facsimile or other electronic
transmission of this signed Agreement shall be legal and binding on all parties hereto.

 

{Signature
pages follow}

    12

     

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement, as of the date first written above.

  

	 	The Company:
	 	 
	 	DRAPER OAKWOOD TECHNOLOGY ACQUISITION, INC.
	 	 
	 	By: 	/s/ Aamer Sarfraz
	 	 	Name: 	 Aamer Sarfraz
	 	 	Title:	 Chief Executive Officer
	 	 
	 	Pubco:
	 	 
	 	DOTA HOLDINGS LIMITED
	 	 
	 	By: 	/s/ Aamer Sarfraz
	 	 	Name: 	Aamer Sarfraz
	 	 	Title:	 Director
	 	 
	 	The Broker:
	 	 
	 	Solely with respect to Sections 6(b) and 7(b) hereof and Exhibit C hereto:
	 	 
	 	COWEN AND COMPANY, LLC
	 	 
	 	By:	 /s/ Tim Manning
	 	 	Name:	 Tim Manning
	 	 	Title:	 MD

 

{Additional
Signature Pages Follow}

  

{Signature Page to Backstop Agreement}

      
 

     

    

 

	 	Accepted and agreed, effective as of the date first set forth above:
	 	 
	 	Name of Investor:
	 	 
	 	S4 Limited
	 	[Please print full name of Investor (individual or entity)]
	 	 
	 	Signature:
	 	 
	 	/s/ Robert Salem
	 	[Authorized signature of Investor]
	 	 
	 	Name of Signatory:
	 	 
	 	Robert Salem
	 	[Please print full name of authorized signatory if Investor is an entity]
	 	 
	 	Title of Signatory:
	 	 
	 	Director
	 	[Please print title of authorized signatory if Investor is an entity]
	 	 
	 	Total Number of Purchased Shares:
	 	 
	 	1,000,000

  

	 	Address for Notice:
	 	 
	 	S4 Limited
	 	5 Church Mount
	 	London, N2 0RW, United Kingdom
	 	Attn: Robert Salem, Director
	 	Email: ________________
	 	Tel: __________________
	 	  
	 	with a copy (which will not constitute notice) to:
	 	  
	 	Loeb & Loeb LLP
	 	345 Park Avenue
	 	New York, NY 10154
	 	Attn: Giovanni Caruso, Esq.
	 	Facsimile No.: ________________
	 	Telephone No.: _______________
	 	Email: ______________________

  

{Signature
Page to Backstop Agreement}

     

     

    

 

Exhibit
A

Form
of Escrow Agreement

 

See
attachment.

 

    A-1

     

    

 

ESCROW
AGREEMENT

 

This
ESCROW AGREEMENT (this “Agreement”) is made as of December 13, 2018 by and among Draper Oakwood Technology
Acquisition, Inc., a Delaware corporation (the “Company”), DOTA Holdings Limited,
a Cayman Islands exempted company (“Pubco”), S4 Limited (“Investor”), Cowen
and Company, LLC (the “Broker”) and Continental Stock Transfer & Trust Company, as escrow
agent (the “Escrow Agent”).

 

WHEREAS,
the Company and Pubco are parties to that certain Business Combination Agreement, dated as of September 4, 2018 (as amended, the
“Business Combination Agreement”), by and among the Company, Pubco, DOTA Merger Subsidiary Inc., a Delaware
corporation and a wholly owned subsidiary of Pubco, Draper Oakwood Investments, LLC (solely in the capacity as the Purchaser Representative
thereunder), Reebonz, Limited, a Singapore corporation (“Reebonz”), and the shareholders of Reebonz
named therein, pursuant to which the parties will consummate a business combination where Reebonz will become a wholly-owned subsidiary
of Pubco (the “Business Combination”);

 

WHEREAS,
in connection with the Business Combination, the Company, Pubco, Investor and the Broker have entered into that certain Backstop
Agreement, dated as of December 13, 2018 (the “Backstop Agreement”);

 

WHEREAS,
pursuant to, and subject to the terms and conditions of, the Backstop Agreement, Investor has agreed to purchase through the Broker
a specified number of shares of Class A common stock of the Company in the open market or in privately negotiated transactions
with third parties (together with any Pubco ordinary shares issued in exchange for shares of the Company’s Class A common
stock in connection with the Business Combination, the “Backstop Shares”);

 

WHEREAS,
in accordance with Section 3 of the Backstop Agreement the Company agreed to establish a segregated escrow account (the “Escrow
Account”) and to provide irrevocable instructions to Continental Stock Transfer & Trust Company, in its capacity
as the trustee (the “Trustee”) of the Company’s trust account (the “Trust Account”)
under the Investment Management Trust Agreement, dated as of September 14, 2017, by and between the Company and the Trustee, to
deliver from the Trust Account an amount equal to the number of Backstop Shares held by Investor and not redeemed in accordance
with the Backstop Agreement multiplied by the Redemption Price (as defined in the Backstop Agreement) (the “Escrow
Amount”) to be held and disbursed in accordance with this Agreement, subject to the terms and conditions of the
Backstop Agreement; and

 

WHEREAS,
the Escrow Agent is willing to establish the Escrow Account on the terms and subject to the conditions of this Agreement.

 

NOW,
THEREFORE, in consideration of the premises and mutual covenants herein contained, the parties hereto hereby agree as follows: 

 

1.  Appointment;
Cash Placed in Escrow. Pubco, the Company and Investor hereby appoint the Escrow Agent as their escrow agent for the purposes
set forth herein, and the Escrow Agent hereby accepts such appointment and agrees to act as escrow agent in accordance with the
terms and conditions set forth herein. As of the consummation of the Business Combination, the Company shall irrevocably direct
the Trustee to deposit or cause to be deposited with the Escrow Agent the Escrow Amount to be held in escrow in the Escrow Account
in accordance with this Agreement. The Escrow Agent will issue to Pubco, the Company and Investor its written confirmation of
the receipt of the Escrow Amount.

  

    1

     

    

 

2. Maintenance
of the Escrow Funds. Upon delivery of the Escrow Amount to the Escrow Agent, the Escrow Amount, together with all interest,
dividends, gains and other income thereon (collectively, “Earnings” and, the Escrow Amount, together
with the Earnings, as reduced by any disbursements from the Escrow Account by the Escrow Agent in accordance with the terms of
this Agreement, the “Escrow Funds”), shall be held by the Escrow Agent in the Escrow Account in accordance
with the terms of this Agreement. During the term of this Escrow Agreement, the Escrow Agent shall invest and reinvest the Escrow
Funds in direct obligations of, or obligations guaranteed by, the United States of America, or as otherwise jointly directed in
writing by Pubco and Investor. All income earned and received from the investment and reinvestment of the Escrow Funds (including
any Earnings thereon) shall continue to be held in the Escrow Account and shall increase the amount of the Escrow Funds, but upon
distribution of the Escrow Funds in accordance with this Agreement, all Earnings on the Escrow Amount will be distributed to Investor.
While the funds are on deposit, the Escrow Agent may earn bank credits or other consideration. Subject to the aforementioned permitted
investments, the Escrow Funds shall at all times remain available for distribution in accordance with the terms of this Agreement.
During the term of this Agreement, the Escrow Agent shall hold the Escrow Funds in the Escrow Account, subject to the aforementioned
permitted investments, and shall not sell, transfer, dispose of, lend or otherwise subject to any lien, attachment or other encumbrance
any of the Escrow Funds except until and to the extent that they are disbursed in accordance with Section 3 below.

 

3. Disbursement
of the Escrow Funds. The Escrow Agent shall hold the Escrow Funds and shall deliver the Escrow Funds (or the applicable portion
thereof) either to the Investor’s brokerage account with the Broker (the “Broker Account”) or
to Pubco, in any case in accordance with the terms of the Backstop Agreement and pursuant to a written instruction executed by
the Broker; provided, that upon the final distribution of the Escrow Funds (and in no event later than the second Business Day
after the end of the Resale Period (as defined in the Backstop Agreement)), the Broker shall provide written instructions to the
Escrow Agent for all Earnings to be distributed to the Broker Account.

 

4. Tax
Matters. For all U.S. and foreign tax purposes, except as required by applicable law, Pubco shall be the owner of the Escrow
Funds while held in the Escrow Account and until released in accordance with this Agreement, except that all Earnings earned with
respect to the Escrow Funds while held by the Escrow Agent shall be treated as earned by Investor until released. The Escrow Agent
shall have the right to deduct and withhold taxes from any payments to be made hereunder if such withholding is required by law
and to request and receive any necessary tax forms, including Form W-9 or the appropriate series of Form W-8, as applicable, or
any similar information, from the applicable recipient of Escrow Funds.

 

5. Duties.
The Escrow Agent’s duties are entirely ministerial and not discretionary, and the Escrow Agent will be under no duty or
obligation to do or to omit the doing of any action with respect to any Escrow Funds, except to give notice, provide monthly reports,
make disbursements, keep an accurate record of all transactions with respect to the Escrow Funds, hold the Escrow Funds in accordance
with the terms of this Agreement and to comply with any other duties expressly set forth in this Agreement. The Escrow Agent shall
not have any interest in any Escrow Funds, but shall serve as escrow holder only and have only possession thereof. Nothing contained
herein shall be construed to create any obligation or liability whatsoever on the part of the Escrow Agent to anyone other than
the parties to this Agreement. There are no third party beneficiaries to this Agreement.

 

6. Monthly
Reports Upon Request. The Escrow Agent shall provide monthly account statements to Pubco and Investor with respect to the
Escrow Account. Pubco and Investor shall have one hundred twenty (120) days to object in writing to such reports. If no written
notice detailing a party's objections has been received by the Escrow Agent within this period, an acceptance of such reports
shall be deemed to have occurred.

  

    2

     

    

 

7. Authorized
Parties; Reliance. Pubco, the Company, Investor and the Broker agree to provide, on Exhibit A (as it may be amended
from time to time) to this Agreement, the names and specimen signatures of those persons who are authorized to issue notices and
instructions to the Escrow Agent and execute required documents under this Agreement. The Escrow Agent may rely and shall be protected
in acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by
it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent is entitled to rely on,
and shall be fully protected in relying on, the instructions and notices from any one of the authorized signers, as identified
on the attached Exhibit A (as it may be amended from time to time) to this Agreement, from each of Pubco, the Company,
Investor and the Broker, either acting alone, until such time as their authority is revoked in writing, or until successors have
been appointed and identified by notice in the manner described in Section 13 below.

 

8. Good
Faith. The Escrow Agent shall not be liable for any action taken by it in good faith and reasonably believed by it to be authorized
or within the rights or powers conferred upon it by this Agreement and may consult with counsel of its own choice and shall have
full and complete authorization and protection for any action taken or suffered by it hereunder in good faith and in accordance
with the opinion of such counsel.

 

9. Right
to Resign. The Escrow Agent may resign and be discharged from its duties or obligations hereunder by giving such notice in
writing of such resignation specifying a date when such resignation shall take effect, which shall be a date not less than sixty
(60) days after the date of the notice of such resignation. Similarly, the Escrow Agent may be removed and replaced following
the giving of thirty (30) days’ notice to the Escrow Agent by Pubco, the Company and Investor. In either event, Pubco, the
Company and Investor shall agree upon a successor Escrow Agent. If Pubco, the Company and Investor are unable to agree upon a
successor or shall have failed to appoint a successor prior to the expiration of sixty (60) days following the date of resignation
or thirty (30) days following the date of removal, the then-acting Escrow Agent may petition any court of competent jurisdiction
for the appointment of a successor escrow agent or otherwise appropriate relief, and any such resulting appointment shall be binding
upon all of the parties hereto. Any successor Escrow Agent shall execute and deliver to the predecessor Escrow Agent, Pubco, the
Company and Investor an instrument accepting such appointment and the transfer of the Escrow Funds and agreeing to the terms of
this Agreement.

 

10. Compensation.
The Escrow Agent shall be entitled to receive the fees as set forth on Exhibit B for the services to be rendered hereunder,
and to be paid or reimbursed for all reasonable documented out-of-pocket expenses, disbursements and advances, including reasonable
documented out-of-pocket attorneys’ fees, incurred or paid in connection with carrying out its duties hereunder, such amounts
to be paid by Pubco and/or the Company.

 

11. Indemnification.
Pubco hereby agrees to indemnify the Escrow Agent for, and to hold it harmless against any loss, liability or expense incurred
without gross negligence or willful misconduct on the part of the Escrow Agent, arising out of or in connection with its entering
into this Agreement and carrying out its duties hereunder.

 

12. Disputes.
If a controversy arises among the parties hereto as to whether or not or to whom the Escrow Agent shall transfer all or any portion
of any Escrow Funds, or as to any other matter arising out of or relating to this Agreement or any Escrow Funds, the Escrow Agent
shall not be required to determine the same, shall not make any transfer of and shall retain the Escrow Funds in dispute without
liability to anyone until the rights of the parties to the dispute shall have finally been determined by mutual written agreement
of Pubco, the Company and Investor, or by a final non-appealable judgment or order of a Specified Court (as defined below), but
the Escrow Agent shall be under no duty whatsoever to institute or defend any such proceedings. The Escrow Agent shall be entitled
to assume that no such controversy has arisen unless it has received notice of such controversy or conflicting written notices
from the parties to this Agreement.

  

    3

     

    

 

13. Notices.
Except to the extent expressly set forth herein, all notices and communications hereunder shall be in writing and shall be deemed
to be given if (a) delivered personally, (b) sent by facsimile or email (with affirmative confirmation of receipt), (c) sent by
recognized overnight courier that issues a receipt or other confirmation of delivery or (d) sent by registered or certified mail,
return receipt requested, postage prepaid to the parties as follows:

 

	If
        to the Company or Pubco, to:

         

        Reebonz
        Holding Limited

        5 Tampines North Drive 5

        Singapore 528548

        Attn: Samuel Lim Kok Eng

        Facsimile No.: 011 65 6499 9443

        Telephone No.: 011 65 6511 8475

        Email: samuel.lim@reebonz.com
	with
        copies (which will not constitute notice) to:

         

        Dentons
        Rodyk & Davidson LLP

        80 Raffles Place, #33-00 UOB Plaza 1

        Singapore 048624

        Attn: S. Sivanesan

        Facsimile No.: 011 65 6532 1838

        Telephone No.: 011 65 6885 3685

        Email: sivanesan.s@dentons.com

         

        and

         

        Draper
        Oakwood Investments, LLC

        55 East 3rd Ave.

        San Mateo, CA 94401, USA

        Attn: Aamer Sarfraz

        Telephone No.: +44-777-049-0449

        Email: aamer@draperoakwood.com

         

        and

         

        Ellenoff
        Grossman & Schole LLP

        1345 Avenue of the Americas, 11th Floor

        New York, New York 10105, USA

        Attn: Stuart Neuhauser, Esq. and Douglas Ellenoff, Esq.

        Facsimile No.: (212) 370-7889

        Telephone No.: (212) 370-1300

        Email: sneuhauser@egsllp.com; ellenoff@egsllp.com

         

	If
        to Investor, to:

         

        S4
Limited

5 Church Mount

London, N2 0RW, United Kingdom

Attn: Robert Salem, Director

Email: ______________________

Tel: ________________________
	with
        a copy (which will not constitute notice) to:

         

        Loeb
& Loeb LLP

345 Park Avenue

New York, NY 10154

Attn: Giovanni Caruso, Esq.

Facsimile No.: __________________

Telephone No.: _________________

Email: ________________________

	If
        to the Broker, to:

         

        Cowen
and Company, LLC

262 Harbor Drive

Stamford, CT. 06902

Attn: Tim Manning, Managing Director Special Situations

Telephone No.: ______________________

Email: _____________________________

	If
        to the Escrow Agent, to:

         

        Continental
Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attention: Francis Wolf & Patrick Small

Email: ____________________________

Telephone No: _____________________

 

    4

     

    

 

or
at such other address as any of the above may have furnished to the other parties in a notice duly given as provided herein. Any
such notice or communication given in the manner specified in this Section 13 shall be deemed to have been given (i) on
the date personally delivered or transmitted by facsimile or email (with affirmative confirmation of receipt), (ii) one (1) Business
Day after the date sent by recognized overnight courier that issues a receipt or other confirmation of delivery or (iii) three
(3) Business Days after being sent by registered or certified mail, return receipt requested, postage prepaid.

 

14. Term.
This Agreement shall terminate upon the final, proper and complete distribution of all Escrow Funds in accordance with the terms
hereof; provided, that Pubco’s obligations under the last sentence of Section 11 hereof shall survive any
termination of this Agreement.

 

15. Entire
Agreement. The terms and provisions of this Agreement (including the Exhibits hereto, which are hereby incorporated by reference
herein) constitute the entire agreement between the Escrow Agent and the other parties hereto with respect to the subject matter
hereof; provided, that nothing herein shall affect the Backstop Agreement or the Business Combination Agreement, or any of the
rights or obligations of the respective parties thereunder. The actions of the Escrow Agent shall be governed solely by this Agreement.

 

16. Amendment;
Waiver. This Agreement may be amended or modified only by a written instrument duly signed by the parties hereto, and any
provision hereof may be waived only by a written instrument duly signed by the party against whom enforcement of such waiver is
sought.

 

17. Severability.
In the event that any provision of this Agreement or the application thereof, becomes or is declared by a court of competent jurisdiction
to be illegal, void or unenforceable, the remainder of this Agreement will continue in full force and effect and the application
of such provision to other persons or entities or circumstances will be interpreted so as reasonably to effect the intent of the
parties hereto. The parties further agree to replace such void or unenforceable provision of this Agreement with a valid and enforceable
provision that will achieve, to the extent possible, the economic, business and other purposes of such void or unenforceable provision.

 

18. Further
Assurances. From time to time on and after the date hereof, Pubco, the Company and Investor shall deliver or cause to be delivered
to the Escrow Agent such further documents and instruments and shall do and cause to be done such further acts as the Escrow Agent
shall reasonably request (it being understood that the Escrow Agent shall have no obligation to make any such request) to carry
out more effectively the provisions and purposes of this Agreement, to evidence compliance herewith or to assure itself that it
is protected in acting hereunder.

  

    5

     

    

 

19. Accounting.
In the event of the resignation or removal of the Escrow Agent, upon the termination of this Agreement or upon demand at any time
of any of Pubco, the Company or Investor under reasonable circumstances, the Escrow Agent shall render to Pubco, the Company,
Investor and the successor escrow agent (if any) an accounting (free of charge) in writing of the property constituting the Escrow
Funds.

 

20. Interpretation.
The parties acknowledge and agree that: (a) this Agreement is the result of negotiations between the parties and will not be deemed
or construed as having been drafted by any one party, (b) each party and its counsel have reviewed and negotiated the terms and
provisions of this Agreement (including any Exhibits attached hereto) and have contributed to its revision and (c) the rule of
construction to the effect that any ambiguities are resolved against the drafting party will not be employed in the interpretation
of this Agreement. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the
meaning or interpretation of this Agreement. In this Agreement, unless the context otherwise requires: (i) words of the masculine,
feminine or neuter gender will include the masculine, neuter or feminine gender, and words in the singular number or in the plural
number will each include, as applicable, the singular number or the plural number; (ii) reference to any person or entity includes
such person’s or entity’s successors and assigns but, if applicable, only if such successors and assigns are permitted
by this Agreement, and reference to a person or entity in a particular capacity excludes such person or entity in any other capacity;
(iii) reference to any law means such law as amended, modified codified or reenacted, in whole or in part, and in effect from
time to time, including rules and regulations promulgated thereunder; (iv) any agreement or instrument defined or referred to
herein or in any agreement or instrument that is referred to herein means such agreement or instrument as from time to time amended,
modified or supplemented, including by waiver or consent and references to all attachments thereto and instruments incorporated
therein; (v) the words “herein, “hereof” and “hereunder” and other words of similar import refer
to this Agreement as a whole and not to any particular Article, Section or other subdivision; (vi) the words “include,”
“includes” and “including” when used herein shall be deemed in each case to be followed by the words “without
limitation”; (vii) any reference herein to “dollars” or “$” shall mean United States dollars; and
(viii) reference to any Section or Exhibit means such Section hereof or Exhibit hereto.

 

21. Successors
and Assigns. This Agreement and the rights and obligations hereunder may not be assigned without the prior written consent
of each of the parties hereto (such consent not to be unreasonably withheld, delayed or conditioned), and any purported assignment
without such consent shall be null and void ab initio. This Agreement will be binding upon, inure to the benefit of and be enforceable
by the parties and their respective successors and permitted assigns.

 

22. Failure
or Indulgence Not Waiver; Remedies Cumulative. No failure or delay on the part of any party hereto in the exercise of any
right hereunder will impair such right or be construed to be a waiver of, or acquiescence in, any breach of any representation,
warranty, covenant or agreement herein, nor will any single or partial exercise of any such right preclude any other (or further)
exercise thereof or of any other right. All rights and remedies existing under this Agreement are cumulative to, and not exclusive
to or exclusive of, any rights or remedies otherwise available to a party hereunder.

 

23. Governing
Law; Venue. The terms and provisions of this Agreement shall be construed and enforced in accordance with the laws of the
State of New York without reference to its conflict of law provisions. Subject to Section 12, each of the parties hereto
irrevocably consents to the exclusive jurisdiction and venue of any state or federal court located in New York, New York (or in
any appellate court thereof) (the “Specified Courts”), in connection with any matter based upon or arising
out of this Agreement or the matters contemplated herein, agrees that process may be served upon them in any manner authorized
by the laws of the State of New York for such persons or entities and waives and covenants not to assert or plead any objection
which they might otherwise have to such jurisdiction, venue and such process.

  

    6

     

    

 

24. Waiver
of Jury Trial. EACH PARTY HEREBY WAIVES THEIR RESPECTIVE RIGHTS TO A TRIAL BY JURY IN ANY LITIGATION, CLAIM, CAUSE OF ACTION
OR OTHER LEGAL PROCEEDING BASED UPON OR ARISING OUT OF OR RELATED TO THIS AGREEMENT, IN ANY ACTION, PROCEEDING OR OTHER LITIGATION
OF ANY TYPE BROUGHT BY ANY OF THE PARTIES HERETO AGAINST ANY OTHER PARTY OR PARTIES, WHETHER WITH RESPECT TO CONTRACT CLAIMS,
TORT CLAIMS, OR OTHERWISE. THE PARTIES HERETO EACH AGREE THAT ANY SUCH LITIGATION, CLAIM, CAUSE OF ACTION OR OTHER LEGAL PROCEEDING
SHALL BE TRIED BY A COURT TRIAL WITHOUT A JURY. WITHOUT LIMITING THE FOREGOING, THE PARTIES HERETO FURTHER AGREE THAT THEIR RESPECTIVE
RIGHT TO A TRIAL BY JURY IS WAIVED BY OPERATION OF THIS SECTION AS TO ANY ACTION, COUNTERCLAIM OR OTHER PROCEEDING WHICH SEEKS,
IN WHOLE OR IN PART, TO CHALLENGE THE VALIDITY OR ENFORCEABILITY OF THIS AGREEMENT OR ANY PROVISION HEREOF. THIS WAIVER SHALL
APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT.

 

25. Counterparts.
This Agreement may be executed simultaneously in two or more counterparts (including by facsimile or other electronic transmission),
each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

26. U.S.
Patriot Act. Pubco, the Company and Investor agree to provide the Escrow Agent with the information reasonably requested by
the Escrow Agent to verify and record Pubco’s, the Company’s and Investor’s respective identities pursuant to
the Escrow Agent’s procedures for compliance with the U.S. Patriot Act and any other applicable laws.

 

27. Representations
of the Parties. Each of the parties hereto hereby represents and warrants that as of the date hereof: (a) it has the power
and authority to execute and deliver this Agreement and to perform its obligations hereunder, and all such actions have been duly
and validly authorized by all necessary proceedings; and (b) this Agreement has been duly authorized, executed and delivered by
it, and constitutes a legal, valid and binding agreement of it.

 

{Remainder
of Page Intentionally Left Blank; Signature Page Follows}

 

    7

     

    

 

IN
WITNESS WHEREOF, the undersigned have executed this Escrow Agreement as of the day and year first above written.

   

	 	The Escrow Agent:
	 	 
	 	CONTINENTAL STOCK TRANSFER
	 	& TRUST COMPANY
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	The Company:
	 	 
	 	DRAPER OAKWOOD TECHNOLOGY ACQUISITION,
    INC.
	 	 
	 	By:	 
	 	 	Name:	Aamer Sarfraz
	 	 	Title:	Chief Executive Officer
	 	 
	 	Pubco:
	 	 
	 	DOTA HOLDINGS LIMITED
	 	 
	 	By:	
	 	 	Name:	Aamer Sarfraz
	 	 	Title:	Director
	 	 
	 	Investor:
	 	 
	 	S4 LIMITED
	 	 
	 	By:	
	 	 	Name: 	Robert Salem
	 	 	Title:	Director
	 	 
	 	The Broker:
	 	 
	 	COWEN AND COMPANY, LLC.
	 	 
	 	By:	
	 	 	Name:
	 	 	Title:

  

{Signature
Page to Escrow Agreement}

     

     

    

 

EXHIBIT
A

AUTHORIZED SIGNERS

 

Pubco:

 

	Name	 	Telephone Number	 	Specimen Signature
	1. 	 	 	 	 	 
	2.	 	 	 	 	 

  

The
Company:

  

	Name	 	Telephone Number	 	Specimen Signature
	1. 	 	 	 	 	 
	2.	 	 	 	 	 

 

Investor:

 

	Name	 	Telephone Number	 	Specimen Signature
	1. 	 	 	 	 	 
	2.	 	 	 	 	 

  

The
Broker:

  

	Name	 	Telephone Number	 	Specimen Signature
	1. 	 	 	 	 	 
	2.	 	 	 	 	 

 

     

     

    

 

EXHIBIT
B

FEE INFORMATION

  

	Acceptance Fee and Administration fee, first account	 	$	5,500.00	 
	2nd and subsequent accounts, each	 	$	2,750.00	 

  

The
acceptance fee and administration fee covers all account set-up services, the review, negotiation and execution of this Agreement,
KYC, OFAC and USA Patriot Act due diligence, claim instructions and release instructions, on-going account, compliance review,
records retention, and escheat services. The acceptance fee and administration fee is due and payable upon the effective date
of appointment. See assumptions for duration.

  

	Investment Management Fee	 	$	3,500.00	 
	2nd and each subsequent accounts, each	 	$	1,750.00	 

 

The
investment management fee covers the investment and reinvestment of the Escrow Funds as contemplated by Section 2 of the Escrow
Agreement.

  

	Payment processing, per disbursement (first 5 at no additional cost)	 	$	50.00	 

   

	Out-of-pocket expenses	At cost

 

Out-of-pocket
expenses when applicable will be billed at cost at the sole discretion of Continental Stock Transfer & Trust Company.

  

	Extraordinary services	Market rate

 

Fees
for services not specifically covered in this schedule will be billed in accordance with our prevailing rates for such services.

 

These
costs may include, but are not limited to, review of IRS Form W-8IMY for foreign holders, shareholder presentment status updates,
shareholder record adjustments, electronic copies of shareholder presentments and non-standard shareholder records.

 

Notwithstanding
the provisions above, if there are multiple escrow accounts established in connection with the Backstop Agreement and Other Guaranteed
Agreements (as defined in the Backstop Agreement), (i) with respect to the first such escrow account (whether pursuant to this
Agreement or another escrow agreement with the Escrow Agent) the acceptance fee and administration fee shall be $5,500.00 and
the investment management fee shall be $3,500.00, and (ii) with respect to each additional escrow account (whether pursuant to
this Agreement or another escrow agreement with the Escrow Agent) the acceptance fee and administration fee shall only be $2,750.00
and the investment management fee shall only be $1,750.00.

 

Assumptions

 

This
proposal is based upon the following assumptions with respect to the role of escrow agent. Should any of the assumptions, duties
or responsibilities change, we reserve the right to affirm, modify or rescind this proposal.

 

		●	The
                                         period of this Agreement is 4 months. Beyond this duration, a fee of $400.00/month will
                                         be in effect ($200/month per 2nd and each additional account).

 

		●	Continental
                                         will be provided W-9/appropriate W-8 forms and payment instructions for disbursements.

 

Terms
and conditions

 

		●	Invoices
                                         outstanding for over 30 days are subject to a 1.5% per month late payment penalty.

 

		●	Acceptance
                                         of the appointment described in this proposal is subject to compliance with the requirements
                                         of the USA Patriot Act of 2001 described below, Continental Stock Transfer & Trust
                                         Company satisfactory review of all governing documents, and the execution of the governing
                                         documents by all parties.

 

		●	This
                                         fee proposal may not be modified except in writing and will be deemed accepted upon your
                                         execution of the paying agent agreement.

 

Important
information about opening a new account

 

To
help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions
to obtain, verify, and record information that identifies each person (individual, corporation, partnership, trust, estate or
other entity recognized as a legal person) for whom we open an account.

 

What
this means for you: Before we open an account, we will ask for your name, address, date of birth (for individuals), TIN/EIN or
other information that will allow us to identify you or your company. For individuals, this could mean identifying documents such
as a driver’s license. For a corporation, partnership, trust, estate or other entity recognized as a legal person, this
could mean identifying documents such as a Certificate of Formation from the issuing state agency. 

 

     

     

    

 

Exhibit
B

Registration Rights

 

		1.	Pubco
                                         agrees that, within thirty (30) calendar days after the Closing, it will file with the
                                         SEC (at Pubco’s sole cost and expense) the Investor Resale Registration Statement
                                         registering the resale of the Additional Shares and, if applicable, any Affiliate Shares,
                                         and Pubco shall use its commercially reasonable efforts to have the Investor Resale Registration
                                         Statement declared effective as soon as practicable after the filing thereof. Pubco agrees
                                         that it will cause such Investor Resale Registration Statement (or another registration
                                         statement, which may be a “shelf” registration statement, which replacement
                                         registration statement shall be considered the Investor Resale Registration Statement
                                         for purposes hereof) to remain effective until the earlier of (i) one (1) year after
                                         the Closing, (ii) the first date on which Investor can sell all of its Additional Shares
                                         and, if applicable, Affiliate Shares under Rule 144 of the Securities Act without limitation
                                         as to the manner of sale or the amount of such securities that may be sold or (iii) until
                                         all of the Additional Shares and, if applicable, Affiliate Shares have been sold by Investor.

 

		2.	Pubco’s
                                         obligations to include the Additional Shares and Affiliate Shares of Investor in the
                                         Registration Statement are contingent upon Investor furnishing in writing to Pubco such
                                         information regarding Investor, the securities of Pubco held by Investor and the intended
                                         method of disposition of the Additional Shares and Affiliate Shares as shall be reasonably
                                         requested by Pubco to effect the registration of such Additional Shares and Affiliate
                                         Shares, and shall execute such documents in connection with such registration as Pubco
                                         may reasonably request that are customary of a selling stockholder in similar situations.
                                         Without limiting the foregoing, Investor agrees to disclose to Pubco upon request Investor’s
                                         beneficial ownership, as determined in accordance with Rule 13d-3 of the Exchange Act.
                                         Investor shall be responsible for any fees or commissions due to the Broker or any underwriter
                                         in connection with the sale of the Additional Shares or Affiliate Shares under the Investor
                                         Resale Registration Statement. Notwithstanding anything to the contrary contained herein,
                                         any sales of Additional Shares or Affiliate Shares under the Investor Resale Registration
                                         Statement shall be consistent with the provisions of this Agreement, including the requirement
                                         that such sales be effected by the Broker.

 

		3.	Notwithstanding
                                         anything to the contrary contained herein, Pubco may suspend the use of any Investor
                                         Resale Registration Statement if it determines in the opinion of counsel for Pubco that
                                         in order for the Investor Resale Registration Statement to not contain a material misstatement
                                         or omission, an amendment thereto would be needed to include information that would at
                                         that time not otherwise be required in a current, quarterly, or annual report under the
                                         Exchange Act, as amended; provided, that, Pubco shall use commercially reasonable efforts
                                         to make such Investor Resale Registration Statement available for the sale by Investor
                                         of the Additional Securities and, if applicable, Affiliate Shares, as soon as practicable
                                         thereafter.

 

		4.	With
                                         respect to the Additional Shares or Affiliate Shares of Investor included the Investor
                                         Resale Registration Statement:

 

		(a)	To
                                         the extent permitted by applicable law and SEC rules and policies, Pubco will indemnify
                                         and hold harmless Investor from and against any and all loss, damage, claim or liability
                                         (joint or several) to which Investor may become subject under the Securities Act, the
                                         Exchange Act, or other federal or state securities law, insofar as such loss, damage,
                                         claim or liability (or any action in respect thereof) arises out of or is based upon:
                                         (i) any untrue statement of a material fact contained in the Investor Resale Registration
                                         Statement; (ii) any omission to state in the Investor Resale Registration Statement a
                                         material fact required to be stated therein, or necessary to make the statements therein
                                         not misleading; or (iii) any violation by Pubco (or any of its Representatives) of the
                                         Securities Act, the Exchange Act, any state securities law (collectively, “Registration
                                         Damages”); and Pubco will pay to Investor any legal or other expenses reasonably
                                         incurred by Investor in connection with investigating or defending any claim or proceeding
                                         from which Registration Damages may result; provided, however, that the foregoing indemnity
                                         shall not apply to the extent that any such Registration Damages arise solely out of,
                                         result solely from or are solely based upon information provided by Investor in the Investor
                                         Resale Registration Statement or actions or omissions made by Pubco or its Representatives
                                         in reliance upon and in conformity with information furnished by or on behalf of Investor
                                         for use in connection with the Investor Resale Registration Statement; provided, further,
                                         that Pubco shall not be responsible to indemnify for any amounts paid in settlement of
                                         any claim or proceeding if such settlement is effected without the consent of Pubco,
                                         which consent shall not be unreasonably withheld, delayed or conditioned.

 

		(b)	To
                                         the extent permitted by applicable law and SEC rules and policies, Investor will indemnify
                                         and hold harmless Pubco, its Representatives (including any underwriter under the Securities
                                         Act), any other security holder of Pubco selling securities in the Investor Resale Registration
                                         Statement and any controlling person (as defined in the Securities Act) of any such persons
                                         or entities from and against any and all Registration Damages, in each case only to the
                                         extent that such Registration Damages arise solely out of, result solely from or are
                                         based solely upon information provided by Investor in the Investor Resale Registration
                                         Statement or actions or omissions made by Pubco or its Representatives in reliance upon
                                         and in conformity with information furnished by or on behalf of Investor for use in connection
                                         with the Investor Resale Registration Statement; and Investor will pay to Pubco and each
                                         other aforementioned indemnified person or entity any legal or other expenses reasonably
                                         incurred thereby in connection with investigating or defending any claim or proceeding
                                         from which Registration Damages may result, as such expenses are incurred; provided,
                                         that Investor shall not be responsible to indemnify for any amounts paid in settlement
                                         of any claim or proceeding if such settlement is effected without the consent of Investor,
                                         which consent shall not be unreasonably withheld, delayed or conditioned; provided, further,
                                         that, except in the case of fraud claims, in no event shall any indemnification obligation
                                         of such Investor under this paragraph exceed the net proceeds from the offering and sale
                                         of Additional Shares and Affiliate Shares actually received by Investor, together with
                                         any payments for Investor’s Shortfall with respect to such Additional Shares and
                                         Affiliate Shares in accordance with the terms of this Agreement.

  

    B-1

     

    

 

Exhibit
C

Sale Conditions

 

		1.	Subject
                                         to the limitations set forth in this Exhibit C, the Broker is authorized by Investor
                                         during the Resale Period to sell on any national securities exchange, over-the-counter
                                         market or automated trading system on which Pubco Ordinary Shares are then traded all
                                         of the Securities of Investor that are freely tradeable or have been registered for resale
                                         under the Investor Resale Registration Statement. Such authorization shall be for the
                                         Broker to sell during each Trading Day in the Resale Period the maximum amount of Securities
                                         that it can sell subject to the limitations set forth in this Exhibit C. The authorization
                                         by Investor of the Broker hereunder shall be irrevocable without the prior written consent
                                         of Pubco.

 

		2.	Investor
                                         directs the Broker to execute the sales of the Securities under this Exhibit C
                                         under ordinary principles of best execution. Except as otherwise set forth in this Exhibit
                                         C, the timing and execution of all sales of Securities will be made at the sole discretion
                                         of the Broker; provided, that the Broker will use its commercially reasonable efforts
                                         (i) to sell on each Trading Day during the Resale Period the maximum amount of Securities
                                         that can be sold in accordance with this provisions of this Exhibit C and (ii)
                                         to effect such sales in a manner not disruptive to the market. Investor will provide
                                         no other instruction or guidance to the Broker with respect to any sales of Securities.

 

		3.	In
                                         the event that the price per share for any sale of Securities is to be less than $6.00
                                         per share (as equitably adjusted for share splits or dividends, combinations, recapitalizations
                                         and the like after the Closing), the Broker shall first offer Pubco the right (for a
                                         period of two (2) trading hours) to purchase such Securities at the then current market
                                         price rather than selling such Securities in the open market.

 

		4.	If
                                         at the time any sale is to be made, Investor is an Affiliate of Pubco or shall have been
                                         an Affiliate of Pubco at any time during the ninety (90) days immediately before the
                                         sale, the Broker shall not effect the sale of Securities for Investor unless there is
                                         an effective registration statement under the Securities Act covering the sale of such
                                         Securities. Notwithstanding anything to the contrary contained herein, the Broker shall
                                         not be required to effect any sale hereunder if it reasonably believes in good faith
                                         based on the advice of counsel that the Broker would be deemed to be an underwriter under
                                         the Securities Act with respect to such sale.

 

		5.	All
                                         sales of the Securities and the Pubco Ordinary Shares held by the Other Guaranteed Investors
                                         under their respective Other Guaranteed Agreements (collectively with the Securities,
                                         the “Guaranteed Resale Securities”) that are then available
                                         for sale as freely-tradeable securities under the Securities Act or under an effective
                                         registration statement under the Securities Act covering such sale (the “Available
                                         Guaranteed Resale Securities”) shall be effected by the Broker pro rata
                                         among Investor and the Other Guaranteed Investors in accordance with the number of Available
                                         Guaranteed Resale Securities owned.

 

		6.	The
                                         amount of Guaranteed Resale Securities sold by the Broker, together with all sales of
                                         Guaranteed Resale Securities sold by the Broker for the account of Investor and the Other
                                         Guaranteed Investors within the preceding month, shall not exceed the greatest of: (a)
                                         one-quarter percent (0.25%) of the Pubco Ordinary Shares outstanding; or (b) one quarter
                                         (1/4) of the average weekly reported volume of trading in Pubco Ordinary Shares on all
                                         national securities exchanges and/or reported through the automated quotation system
                                         of a registered securities association during the four (4) calendar weeks preceding the
                                         date of the sale.

  

    C-1

     

    

 

		7.	In
                                         the event that at the end of each thirty (30) day period during the Resale Period, Investor
                                         has not received (directly or through the Broker Account) at least $333,333.33 in Net
                                         Proceeds from the sales of Securities during the prior thirty (30) day period, upon the
                                         written request of Investor to Pubco, Pubco shall, within two (2) Business Days after
                                         receipt of such written request, purchase from Investor a number of Securities (first
                                         Additional Shares and then Backstop Shares) equal in dollar amount to the difference
                                         between $333,333.33 and the actual Net Proceeds received (directly or through the Broker
                                         Account) by Investor during such prior thirty (30) day period, with each of the Securities
                                         valued at a price per share equal to the VWAP (as defined in the Business Combination
                                         Agreement) of the Pubco Ordinary Shares over the ten (10) Trading Days ending on the
                                         close of business on the principal securities exchange or securities market on which
                                         the Pubco Ordinary Shares are then traded as of the last day of such thirty (30) day
                                         period (as equitably adjusted for share splits or dividends, combinations, recapitalizations
                                         and the like during such ten Trading Day period). For the avoidance of doubt, Pubco shall
                                         not use the Escrow Funds in making such purchase under this paragraph.

 

		8.	Notwithstanding
                                         anything to the contrary in this Exhibit C, in the event that the event that the
                                         price per share for any sale of Securities is to be greater than the Redemption Price
                                         (as equitably adjusted for share splits or dividends, combinations, recapitalizations
                                         and the like after the Closing), the Broker shall be free to make such sale without regards
                                         to the restrictions set forth in paragraph 6 of this Exhibit C.

 

		9.	All
                                         such sales shall be effected as:

 

		(a)	brokers’
                                         transactions within the meaning of section 4(4) of the Securities Act, including transactions
                                         referred to in Rule 144(g) under the Securities Act;

 

		(b)	transactions
                                         directly with a market maker, as that term is defined in section 3(a)(38) of the Exchange
                                         Act; or

 

		(c)	riskless
                                         principal transactions where: (i) the offsetting trades must be executed at the same
                                         price (exclusive of an explicitly disclosed markup or markdown, commission equivalent,
                                         or other fee); (ii) the transaction is permitted to be reported as riskless under the
                                         rules of a self-regulatory organization; and (iii) the requirements of the following
                                         paragraphs of Rule 144 under the Securities Act): (g)(2)(applicable to any markup or
                                         markdown, commission equivalent, or other fee), (g)(3), and (g)(4) of Rule 144 are met.

 

		10.	The
                                         Broker shall not be required to sell any Securities hereunder at any time: (i) the Broker
                                         reasonably determines that it is prohibited from doing so by a legal, contractual or
                                         regulatory restriction applicable to it or its Affiliates or to Investor or Investor’s
                                         Affiliates; or (ii) a market disruption, banking moratorium, outbreak or escalation of
                                         hostilities or other crisis or calamity has occurred.

 

		11.	No
                                         sale may be: (a) the opening (regular way) sale reported in the consolidated system;
                                         or (b) effected during the 30 minutes before the scheduled close of the primary trading
                                         session in the principal market for the Pubco Ordinary Shares, and the 30 minutes before
                                         the scheduled close of the primary trading session in the market where the sale is effected.
                                         However, sales may be effected following the close of the primary trading session until
                                         the termination of the period in which last sale prices are reported in the consolidated
                                         system so long as such sales are effected at prices that do not exceed the lower of the
                                         closing price of the primary trading session in the principal market for the Pubco Ordinary
                                         Shares and any lower bids or sale prices subsequently reported in the consolidated system,
                                         and all of the other Sale Conditions are met. Notwithstanding the foregoing, the sale
                                         may not be the opening transaction of the session following the close of the primary
                                         trading session.

 

		12.	Sales
                                         must be effected at a price that is not lower than the lowest independent ask or the
                                         last independent transaction price, whichever is lower, quoted or reported in the consolidated
                                         system at the time the sale is effected.

  

    C-2

     

    

 

Exhibit
D

Investor
Questionnaire

  

THIS
QUESTIONNAIRE MUST BE ANSWERED FULLY AND RETURNED ALONG WITH YOUR COMPLETED BACKSTOP AGREEMENT IN CONNECTION WITH YOUR PROSPECTIVE
RECEIPT OF BONUS SHARES FROM DOTA HOLDINGS LIMITED (“PUBCO”).

 

THE
INFORMATION SUPPLIED IN THIS QUESTIONNAIRE WILL BE HELD IN STRICT CONFIDENCE. NO INFORMATION WILL BE DISCLOSED EXCEPT TO THE EXTENT
THAT SUCH DISCLOSURE IS REQUIRED BY LAW OR REGULATION, OTHERWISE DEMANDED BY PROPER LEGAL PROCESS OR IN LITIGATION INVOLVING PUBCO
AND ITS CONTROLLING PERSONS.

  

Capitalized
terms used herein without definition shall have the respective meanings given such terms as set forth in the Backstop Agreement
by and among Draper Oakwood Technology Acquisition, Inc., a Delaware corporation, Pubco, the investor identified on the signature
page thereto and Cowen and Company, LLC (the “Agreement”).

  

(1)
The undersigned represents and warrants that he, she or it comes within at least one category marked below, and that for any
category marked, he, she or it has truthfully set forth, where applicable, the factual basis or reason the undersigned comes
within that category. The undersigned agrees to furnish any additional information which Pubco reasonably deems necessary in
order to verify the answers set forth below.

 

	Category
    A ___	The
        undersigned is an individual (not a partnership, corporation, etc.) whose individual net worth, or joint net worth with
        his or her spouse, presently exceeds $1,000,000.

         

        Explanation.
        In calculating net worth, you include all of your assets (other than your primary residence), whether liquid or illiquid,
        such as cash, stock, securities, personal property and real estate based on the fair market value of such property MINUS
        all debts and liabilities (except that a mortgage or other debt secured by your primary residence, up to the estimated
        fair market value of the primary residence as of the Closing, shall not be included as a liability, provided that if the
        amount of such indebtedness outstanding as of the Closing exceeds the amount outstanding 60 days before such time,
        other than as a result of the acquisition of your primary residence, the amount of such excess shall be included as a
        liability. Further, the amount of any mortgage or other indebtedness secured by your primary residence that exceeds the
        fair market value of the residence as of the Closing shall be included as a liability.

         

	Category
    B ___	The undersigned is an individual (not a partnership, corporation, etc.) who had an income in excess of $200,000 in each of the two most recent years, or joint income with his or her spouse in excess of $300,000 in each of those years (in each case including foreign income, tax exempt income and full amount of capital gains and losses but excluding any income of other family members and any unrealized capital appreciation) and has a reasonable expectation of reaching the same income level in the current year.

                                                                               

	Category
    C ___	The undersigned is a director or executive officer of Pubco.

                                                                               

	Category
    D ___	The
        undersigned is a bank, as defined in Section 3(a)(2) of the Securities Act of 1933, as amended (the “Act”);
        a savings and loan association or other institution as defined in Section 3(a)(5)(A) of the Act, whether acting in
        its individual or fiduciary capacity; any broker or dealer registered pursuant to Section 15 of the Securities Exchange
        Act of 1934; any insurance company as defined in Section 2(a)(13) of the Act; any investment company registered under
        the Investment Company Act of 1940 or a business development company as defined in Section 2(a)(48) of that Act;
        any Small Business Investment Company licensed by the U.S. Small Business Administration under Section 301(c)
        or (d) of the Small Business Investment Act of 1958; any plan established and maintained by a state, its political subdivisions,
        or any agency or instrumentality of a state or its political subdivisions, for the benefit of its employees, if such plan
        has total assets in excess of $5,000,000; any employee benefit plan within the meaning of the Employee Retirement Income
        Security Act of 1974 if the investment decision is made by a plan fiduciary, as defined in Section 3(21) of such
        act, which is either a bank, savings and loan association, insurance company, or registered investment advisor, or if
        the employee benefit plan has total assets in excess of $5,000,000 or, if a self-directed plan, with investment decisions
        made solely by persons that are accredited investors (describe entity).

         

        ___________________________________________________________________
        ___________________________________________________________________

  

    D-1

     

    

 

	Category
    E ___	The
undersigned is a private business development company as defined in Section 202(a) (22) of the Investment Advisors Act of
1940 (describe entity)  

        ___________________________________________________________________
        ___________________________________________________________________  

         

	Category
    F ___	The
undersigned is either a corporation, partnership, Massachusetts or similar business trust, or any organization described in Section 501(c)(3)
of the Internal Revenue Code, in each case not formed for the specific purpose of acquiring the Additional Shares and with total
assets in excess of $5,000,000. (describe entity) 

        ___________________________________________________________________
        ___________________________________________________________________

         

	Category
    G ___	The
undersigned is a trust with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the Additional
Shares, where the purchase is directed by a “sophisticated investor” as defined in Regulation 506(b)(2)(ii) under
the Act. 

        __________________________________________________________________

        __________________________________________________________________ 

         

	Category
    H ___	The
undersigned is an entity (other than a trust) in which all of the equity owners are “accredited investors” within
one or more of the above categories. If relying upon this Category alone, each equity owner must complete a separate copy of this
Investor Questionnaire. (describe entity) 

        ___________________________________________________________________
        ___________________________________________________________________

         

	 	The
    undersigned agrees that the undersigned will notify Pubco at any time on or prior to the applicable closing in the event that
    the representations and warranties in this Investor Questionnaire shall cease to be true, accurate and complete.

 

(2)
Suitability (please answer each question)

  

(a)
Are you familiar with the risk aspects and the non-liquidity of investments such as the Additional Shares for which you seek to
acquire?

 

YES
_____     NO _____

 

    D-2

     

    

 

(b)
Do you understand that there is no guarantee of financial return on this investment and that you run the risk of losing your entire
investment?

 

YES
_____     NO _____

 

(3)
Manner in which title is to be held: (circle one)

 

	(a)	Individual
    Ownership
	(b)	Community
    Property
	(c)	Joint
    Tenant with Right of Survivorship (both parties must sign)
	(d)	Partnership
	(e)	Tenants
    in Common
	(f)	Company
	(g)	Trust
	(h)	Other

 

(4)
Are you a U.S. person (as defined in the Securities Act)?

  

YES
_____     NO _____

  

 (5)
FINRA Affiliation.

 

Are
you affiliated or associated with a member of FINRA (please check one):

  

YES
_____     NO _____

  

If
Yes, please describe: 

 

_______________________________________________________________________________

 

_______________________________________________________________________________

 

_______________________________________________________________________________

  

*
If subscriber is a Registered Representative with a member of FINRA, have the following acknowledgment signed by the
appropriate party:

  

The
undersigned FINRA firm acknowledges receipt of the notice required by the Conduct Rules of FINRA.

   

	 	 	 
	 	Name
    of FINRA Member Firm	 
	 	 	 
	 	By:	 	 
	 	 	Authorized
    Officer	 
	 	 	 	 
	 	Date:	 	 

  

{Remainder
of page intentionally left blank}

  

    D-3

     

    

 

The
undersigned is informed of the significance to Pubco of the foregoing representations and answers contained in this Investor Questionnaire
and such answers have been provided under the assumption that Pubco will rely on them. The undersigned represents and warrants
to Pubco, as or on behalf of the Investor, that the information in this Investor Questionnaire is true, complete and accurate
and may be relied upon by Pubco. The Investor understands that a false representation may constitute a violation of law, and that
any person or entity who suffers damage as a result of a false representation may have a claim against the Investor for damages

   

	Individual Signature:	 	Entity Signature:
	 	 	 
	 	 	 
	Signature	 	Entity Name
	 	 	 
	 	 	By:	 
	Name (Print)	 	Signature

 

	Date:	 	 	 
	 	 	Signatory Name (Print)
	 	 	 
	 	 	 
	 	 	Title
	 	 	 
	 	 	 
	 	 	Date:

  

    D-4

     

    

 

Exhibit
E

Instruction
Letter

   

See
attachment.

  

    E-1

     

    

 

DRAPER
OAKWOOD TECHNOLOGY ACQUISITION, INC.

c/o
Draper Oakwood Investments, LLC

55 East 3rd Ave.

San
Mateo, CA 94401

  

December
13, 2018

  

Continental
Stock Transfer & Trust Company

1
State Street 30th Floor

New
York, NY 10004

Attn:
Steven G. Nelson and Sharmin Carter 

 

		Re:	Trust
Account No. [   ] - Irrevocable Instruction in Connection with Business Combination

 

Gentlemen:

  

Reference
is hereby made to that certain Investment Management Trust Agreement between Draper Oakwood Technology Acquisition, Inc. (“Company”)
and Continental Stock Transfer & Trust Company (“Trustee”), dated as of September 14, 2017 (the “Trust Agreement”).
Any defined term used but not defined herein will have the meaning ascribed to such term in the Trust Agreement.

  

The
Company has entered into (i) that certain Business Combination Agreement, dated as of September 4, 2018 (as amended, the “Business
Combination Agreement”), by and among the Company, DOTA Holdings Limited, a Cayman Islands exempted company (“Pubco”),
DOTA Merger Subsidiary Inc., a Delaware corporation and a wholly owned subsidiary of Pubco, Draper Oakwood Investments, LLC (solely
in the capacity as the Purchaser Representative thereunder), Reebonz, Limited, a Singapore corporation (“Reebonz”),
and the shareholders of Reebonz named therein, pursuant to which the parties will consummate a business combination where Reebonz
will become a wholly-owned subsidiary of Pubco (the “Business Combination”), (ii) that certain Backstop Agreement,
dated as of December 13, 2018 (the “Backstop Agreement”), by and among the Company, Pubco, S4 Limited (“Investor”)
and Cowen and Company, LLC (the “Broker”), and (iii) that certain Escrow Agreement, dated as of December 13, 2018
(the “Escrow Agreement”), by and among the Company, Pubco, the Investor and Continental Stock Transfer & Trust
Company, as escrow agent (the “Escrow Agent”).

  

This
letter constitutes the Company’s irrevocable instruction to the Trustee that upon the consummation of the Business Combination
(the “Closing”), subject to written confirmation from the Broker to Trustee that Investor has complied with its obligations
under the Backstop Agreement to be satisfied at or prior to the Closing, the Trustee shall disburse from the Trust Account and
pay to the Escrow Agent, to be held by the Escrow Agent in an escrow account established by the Escrow Agent under the Escrow
Agreement, an amount equal to (the “Escrow Amount”) the product of (x) 1,000,000 multiplied by (y) the price per share
to be paid to Public Stockholders who exercise their conversion rights in connection with the Closing of the Business Combination.
The Escrow Amount shall be deducted from the Trust Account prior to making any other disbursements pursuant to any other instruction
letters provided by the Company in connection with the Closing.

  

Investor
is intended to be and is a third party beneficiary hereof, and no amendment or modification to the instructions set forth herein
may be made without the consent of Investor.

  

By
signing below, each person executing this letter certifies that they are duly authorized to execute this agreement on behalf of
the entity for which they are signing and to bind such party to all of the terms and conditions contained herein.

  

[remainder
of page intentionally left blank]

  

     

     

    

 

	 	Very truly yours,
	 	 
	 	DRAPER OAKWOOD TECHNOLOGY ACQUISITION, INC.
	 	 
	 	By: 	 
	 	 	Name: 	 Aamer Sarfraz
	 	 	Title:	 Chief Executive Officer
	 	 
	 	S4 LIMITED
	 	 
	 	By: 	 
	 	 	Name:	 Robert Salem
	 	 	Title:	 Director

 

	Acknowledged and Agreed:	 
	 	 
	CONTINENTAL STOCK TRANSFER & TRUST COMPANY	 
	 	 
	 	 
	Name:	 
	Title:

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