Document:

Exhibit 10.1

 

AMENDMENT TO INVESTMENT MANAGEMENT
TRUST AGREEMENT

 

THIS AMENDMENT TO INVESTMENT MANAGEMENT TRUST
AGREEMENT (this “Amendment Agreement”), dated as of December 15, 2022, is made by and between TCW Special Purpose
Acquisition Corp., a Delaware corporation (the “Company”), and Continental Stock Transfer & Trust Company, a
New York corporation (the “Trustee”), and amends that certain Investment Management Trust Company, effective as
of March 1, 2021 (as amended, the “Trust Agreement”), by and between the Company and the Trustee. Capitalized
terms used but not defined in this Amendment Agreement have the meanings assigned to such terms in the Trust Agreement.

 

WHEREAS, following the closing of the Company’s
initial public offering of 46,393,299 units, including the partial exercise of the Underwriters’ over-allotment option (the “Offering”),
and as of March 5, 2021, a total of $463,932,990 of the net proceeds from the Offering was placed in the Trust Account;

 

WHEREAS, Section 1(i) of the Trust Agreement
provides that the Trustee is to liquidate the Trust Account and distribute the Property in the Trust Account, including interest earned
on the funds held in the Trust Account and not previously released to the Company to pay its taxes (less up to $100,000 of interest that
may be released to the Company to pay dissolution expenses), (x) upon receipt of, and only in accordance with, the terms of a Termination
Letter in a form substantially similar to that attached to the Trust Agreement as Exhibit A or Exhibit B, as applicable, or (y) the date
which is 24 months (or 27 months from the closing of the offering if the Company has executed a letter of intent, agreement in principle
or definitive agreement for an initial business combination within 24 months from the closing of the initial public offering) after the
closing of the Offering, if a Termination Letter has not been received by the Trustee prior to such date, in which case the Trust Account
shall be liquidated in accordance with the procedures set forth in the Termination Letter attached as Exhibit B and the Property in the
Trust Account, shall be distributed to the Public Stockholders of record as of such date;

 

WHEREAS, Section 6(d) of
the Trust Agreement provides that Section 1(i) of the Trust Agreement may not be changed, amended or modified without the
affirmative vote of at least sixty-five percent (65%) of the then outstanding shares of the Company’s Class A common stock,
par value $0.0001 per share (the “Common Stock”), and Class B common stock, par value $0.0001 per share (the
“Class B Common Stock”), of the Company, voting together as a single class; and

 

WHEREAS, at a meeting of the stockholders
of the Company held on or about the date hereof (the “Special Meeting”), at least sixty five percent (65%) of the voting
power of all then outstanding shares of the Common Stock and the Company’s Class B Common Stock have voted to approve this Amendment
Agreement;

 

WHEREAS, at the Special Meeting, the
stockholders of the Company also voted to approve the amendment and restatement of the Company’s second amended and restated
certificate of incorporation (the certificate of incorporation, as so amended and restated, the “Third Amended and Restated
Certificate”); and

 

WHEREAS, each of the Company and the Trustee desires to amend
the Trust Agreement as provided herein.

 

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

 

1. 
 Amendment to the Trust Agreement. Effective as of the execution hereof, Section 1(i) of the Trust Agreement is hereby
amended and restated in its entirety as follows:

 

’(i) Commence liquidation of the Trust
Account only after and promptly after (x) receipt of, and only in accordance with, the terms of a letter from the Company
(“Termination Letter”) in a form substantially similar to that attached hereto as either Exhibit A or Exhibit
B, as applicable, signed on behalf of the Company by its Chief Executive Officer, President, Chief Financial Officer, Secretary
or Chairman of the Board of Directors of the Company (the “Board”) or other authorized officer of the Company,
and complete the liquidation of the Trust Account and distribute the Property in the Trust Account, including interest earned on the
funds held in the Trust Account and not previously released to the Company to pay its taxes (less up to $100,000 of interest that
may be released to the Company to pay dissolution expenses), only as directed in the Termination Letter and the other documents
referred to therein; or (y) the Amended Termination Date (as such term is defined in the Company’s third amended and restated
certificate of incorporation), if a Termination Letter has not been received by the Trustee prior to such date, in which case the
Trust Account shall be liquidated in accordance with the procedures set forth in the Termination Letter attached as Exhibit B and
the Property in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released to
the Company to pay its taxes (less up to $100,000 of interest that may be released to the Company to pay dissolution expenses) shall
be distributed to the Public Stockholders of record as of such date;

 

     

     

    

 

2. 
Amendment to Exhibit B. Effective as of the execution hereof, Exhibit B of the Trust Agreement is hereby amended and restated
in its entirety with Exhibit B attached hereto.

 

3. 
No Further Amendment. The parties hereto agree that except as provided in this Amendment Agreement, the Trust Agreement shall
continue unmodified, in full force and effect and constitute legal and binding obligations of all parties thereto in accordance with its
terms. This Amendment Agreement forms an integral and inseparable part of the Trust Agreement.

 

 4. References.

 

(a) 
All references to the “Trust Agreement” (including “hereof,” “herein,” “hereunder,”
“hereby” and “this Agreement”) in the Trust Agreement shall refer to the Trust Agreement as amended by this Amendment
Agreement. Notwithstanding the foregoing, references to the date of the Trust Agreement (as amended hereby) and references in the Trust
Agreement to “the date hereof,” “the date of this Trust Agreement” and terms of similar import shall in all instances
continue to refer to March 1, 2021.

 

(b) 
All references to the “amended and restated certificate of incorporation” in the Trust Agreement (as amended by this
Amendment Agreement) and terms of similar import shall mean the Third Amended and Restated Certificate.

 

5.
Governing Law; Jurisdiction. This Amendment Agreement shall be governed by and construed and enforced in accordance with the
laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive
laws of another jurisdiction. The parties hereto consent to the jurisdiction and venue of any state or federal court located in the City
of New York, State of New York, for purposes of resolving any disputes hereunder. AS TO ANY CLAIM, CROSS-CLAIM OR COUNTERCLAIM IN ANY
WAY RELATING TO THIS AGREEMENT, EACH PARTY WAIVES THE RIGHT TO TRIAL BY JURY.

 

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

 

7. Other Miscellaneous Terms. The provisions
of Sections 6(f), 6(h) and 6(j) of the Trust Agreement shall apply mutatis mutandis to this Amendment Agreement, as if set forth
in full herein.

 

[Signature Pages Follow]

 

    2

     

    

 

IN WITNESS WHEREOF, the parties hereto have
caused this Amendment Agreement to be duly executed by their duly authorized representatives, all as of the day and year first above written.

 

	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Trustee
	 	 
	 	By:	/s/ Francis Wolf
	 	 	Name: 	Francis Wolf
	 	 	Title:	Vice President

 

	 	TCW SPECIAL PURPOSE ACQUISITION CORP.
	 	 
	 	By:	/s/ Joseph R. Shaposhnik
	 	 	Name: 	Joseph R. Shaposhnik
	 	 	Title:	Chief Executive Officer 

 

     

     

    

 

EXHIBIT B

 

TCW SPECIAL PURPOSE ACQUISITION
CORP.

865 South Figueroa Street

Los Angeles, CA 90017

 

December 15, 2022

 

Continental Stock Transfer & Trust Company 

1 State
Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste
Gonzalez

 

Re: Trust Account - Termination Letter

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to
Section 1(i) of the Investment Management Trust Agreement between TCW Special Purpose Acquisition Corp. (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of March 1, 2021 (the “Trust
Agreement”), this is to advise you that the Company has been unable to effect a business combination with a Target Business
(the “Business Combination”) within the time frame specified in the Company’s third amended and restated
certificate of incorporation. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

In accordance
with the terms of the Trust Agreement, we hereby authorize you to liquidate all of the assets in the Trust Account and to transfer the
total proceeds into a segregated account held by you at J.P. Morgan Chase Bank, N.A. on behalf of the Beneficiaries to await distribution
to the Public Stockholders. The Company has selected December 15, 2022 as the effective date for the purpose of determining when the Public
Stockholders will be entitled to receive their share of the liquidation proceeds. You agree to be the Paying Agent of record and, in your
separate capacity as Paying Agent, agree to distribute said funds directly to the Company’s Public Stockholders in accordance with
the terms of the Trust Agreement and third amended and restated certificate of incorporation of the Company. Upon the distribution of
all the funds, net of any payments necessary for reasonable unreimbursed expenses related to liquidating the Trust Account, your obligations
under the Trust Agreement shall be terminated, except to the extent otherwise provided in Section 1(i) of the Trust Agreement.

 

	Very truly yours,	 
	 	 
	TCW Special Purpose Acquisition Corp.	 
	 	 
	By:	         	 
	Name: 	 	 
	Title:	 	 

 

	cc:	Citigroup Global Markets Inc.	 
	 	Barclays Capital Inc.	 

 

 

B-1Exhibit 4.2

 

General

 

Our
authorized capital stock consists of 50,000,000 shares of common stock, $0.001 par value per share, and 5,000,000 shares of preferred
stock, $0.01 par value per share.

 

Common Stock

 

The
holders of our common stock are entitled to one vote per share on all matters submitted to a vote of shareholders and our articles of
incorporation do not provide for cumulative voting in the election of directors unless required by applicable law.  Subject
to preferences that may be applicable to any outstanding series of preferred stock, the holders of our common stock will receive ratably
any dividends declared by our Board of Directors out of funds legally available for the payment of dividends.  In the event
of our liquidation, dissolution or winding-up, the holders of our common stock are entitled to share ratably in all assets remaining after
payment of or provision for any liabilities, subject to prior distribution rights of preferred stock, if any, then outstanding.

 

 Preferred Stock

 

Our
articles of incorporation provide that our Board of Directors has the authority, without further action by the shareholders, to issue
up to 5,000,000 shares of preferred stock.  Our Board of Directors will be able to issue preferred stock in one or more series
and determine the voting powers, preferences and relative, participating, optional and other special rights of the shares of any such
series of preferred stock, and the qualifications, limitations, and restrictions of such shares, any or all of which may be greater than
the rights of our common stock.  Issuances of preferred stock could adversely affect the voting power of common stock and reduce
the likelihood that holders of our common stock will receive dividend payments and payments upon liquidation.  Any issuance
of preferred stock also could have the effect of decreasing the market price for our common stock and could delay, deter or prevent a
change in control of the Company.

 

Our
Board of Directors previously designated 1,000,000 shares of preferred stock as “Series A Convertible Preferred Stock,” 1,240,000
shares of preferred stock as “Series B Convertible Preferred Stock,” and 473,934 shares of preferred stock as “Series
C Convertible Preferred Stock.”  No shares of Series A Convertible Preferred Stock, Series B Convertible Preferred Stock
or Series C Convertible Preferred Stock are currently outstanding.

 

 Provisions of
Our Articles of Incorporation and Bylaws and Nevada Law that May Have an Anti-Takeover Effect

 

We
are subject to anti-takeover laws for Nevada corporations.  These anti-takeover laws prevent a Nevada corporation from engaging
in a business combination with any stockholder, including all affiliates and associates of the shareholder, who is the beneficial owner
of 10% or more of the corporation’s outstanding voting stock, for two years following the date that the shareholder first became
the beneficial owner of 10% or more of the corporation’s voting stock, unless specified conditions are met.  If those
conditions are not met, then after the expiration of the two-year period the corporation may not engage in a business combination with
such shareholder unless certain other conditions are met.

 

Our
articles of incorporation and our bylaws contain a number of provisions that may deter or impede takeovers or changes of control or management.  These
provisions:

 

		·	authorize our Board of Directors to establish
one or more series of preferred stock the terms of which can be determined by the Board of Directors at the time of issuance;

 

		·	do not allow for cumulative voting in the election
of directors unless required by applicable law.  Under cumulative voting a minority shareholder holding a sufficient percentage
of a class of shares may be able to ensure the election of one or more directors;

 

    	 	 	 

    	 

    

 

		·	state that special meetings of our shareholders
may be called only by the Chairman of the Board, the president or any two directors and must be called by the president upon the written
request of the holders of 10 percent of the outstanding shares of capital stock entitled to vote at such special meeting; and

 

		·	provide that the authorized number of directors
is no more than five, as determined by our Board of Directors.

 

These
provisions, alone or in combination with each other, may discourage transactions involving actual or potential changes of control, including
transactions that otherwise could involve payment of a premium over prevailing market prices to shareholders for their common stock.

 

Limitations on Liability
and Indemnification of Officers and Directors

 

Nevada
law authorizes corporations to limit or eliminate (with a few exceptions) the personal liability of directors to corporations and their
shareholders for monetary damages for breaches of directors’ fiduciary duties as directors.  Our articles of incorporation
and bylaws include provisions that eliminate, to the extent allowable under Nevada law, the personal liability of directors or officers
for monetary damages for actions taken as a director or officer, as the case may be.  Our articles of incorporation and bylaws
also provide that we must indemnify and advance reasonable expenses to our directors and officers to the fullest extent permitted by Nevada
law.  We are also expressly authorized to carry directors’ and officers’ insurance for our directors, officers,
employees and agents for some liabilities.

 

The
limitation of liability and indemnification provisions in our articles of incorporation and bylaws may discourage shareholders from bringing
a lawsuit against directors for breach of their fiduciary duty.  These provisions may also have the effect of reducing the likelihood
of derivative litigation against directors and officers, even though such an action, if successful, might otherwise benefit us and our
shareholders.  In addition, your investment may be adversely affected to the extent that, in a class action or direct suit,
we pay the costs of settlement and damage awards against directors and officers pursuant to the indemnification provisions in our articles
of incorporation and bylaws.

 

There
is currently no pending litigation or proceeding involving any of our directors, officers or employees for which indemnification is sought.

 

Authorized but Unissued
Shares

 

Our
authorized but unissued shares of common stock and preferred stock are available for future issuance without shareholder approval.  Nevada
law does not require shareholder approval for any issuance of authorized shares.  However, the NASDAQ listing requirements require
shareholder approval of certain issuances equal to or exceeding 20% of the then-outstanding voting power or the then-outstanding number
of shares of common stock.  No assurances can be given that our shares will remain so listed.  We may use additional
shares for a variety of corporate purposes, including future public offerings to raise additional capital, corporate acquisitions, and
employee benefit plans.  The existence of authorized but unissued shares of common stock and preferred stock could render more
difficult or discourage an attempt to obtain control of us by means of a proxy contest, tender offer, merger or otherwise.

 

Listing

 

Our common stock is listed
on The Nasdaq Capital Market under the trading symbol “GTIM”.

 

Transfer Agent and
Registrar

 

The transfer agent and
registrar for our common stock is Broadridge Financial Solutions, Inc.

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