Document:

Exhibit 10.32

 

STOCKHOLDERS AGREEMENT

 

DATED AS OF [●], 2019

 

AMONG

 

REPAY HOLDINGS CORPORATION

 

AND

 

THUNDER BRIDGE ACQUISITION LLC

 

    	 

     

    

 

Table of Contents

 

	 	 	Page
	 	 	 
	ARTICLE I. INTRODUCTORY MATTERS	1
	 	 	 
	1.1	Defined Terms	1
	1.2	Construction	6
	 	 	 
	ARTICLE II. CORPORATE GOVERNANCE MATTERS	6
	 	 	 
	2.1	Election of Directors	6
	2.2	Compensation	8
	2.3	Other Rights of the Stockholder Designee	8
	2.4	Stockholder Designator	8
	 	 	 
	ARTICLE III. INFORMATION	8
	 	 	 
	3.1	Books and Records; Access	8
	3.2	Certain Reports	9
	3.3	Confidentiality	9
	3.4	Information Sharing	9
	 	 	 
	ARTICLE IV. ADDITIONAL COVENANTS	9
	 	 	 
	4.1	Pledges	9
	4.2	Spin-Offs or Split-Offs	10
	 	 	 
	ARTICLE V. GENERAL PROVISIONS	10
	 	 	 
	5.1	Termination	10
	5.2	Notices	11
	5.3	Amendment; Waiver	11
	5.4	Further Assurances	12
	5.5	Assignment	12
	5.6	Third Parties	12
	5.7	Governing Law	12
	5.8	Jurisdiction; Waiver of Jury Trial	12
	5.9	Specific Performance	13
	5.10	Entire Agreement	13
	5.11	Severability	13
	5.12	Table of Contents, Headings and Captions	13
	5.13	Counterparts	13
	5.14	No Recourse	13

 

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STOCKHOLDERS AGREEMENT

 

This Stockholders Agreement
is entered into as of [●], 2019 by and among Repay Holdings Corporation, a Delaware corporation and the successor to Parent
(as defined below) (together with Parent to the extent applicable, the “Company”), and Thunder Bridge Acquisition
LLC, a Delaware limited liability company (the “Stockholder”).

 

RECITALS:

 

WHEREAS, Thunder Bridge
Acquisition Ltd., a Cayman Islands exempted company (“Parent”), TB Acquisition Merger Sub LLC, a Delaware limited
liability company and wholly-owned subsidiary of Parent (“Merger Sub”), Hawk Parent Holdings LLC, a Delaware
limited liability company (together with the successor thereto upon the consummation of the Merger (as defined below), “Opco”)
and, solely in its capacity as the Company Securityholder Representative thereunder, CC Payment Holdings, L.L.C., a Delaware limited
liability company, have entered into that certain Agreement and Plan of Merger, dated as of January 21, 2019 (as amended, the “Merger
Agreement”), pursuant to which Merger Sub will merge with and into Opco (the “Merger”) with Opco being
the surviving limited liability company; and

 

WHEREAS, in connection
with the Merger, the Company and the Stockholder wish to set forth certain understandings between such parties, including with
respect to certain governance matters.

 

NOW, THEREFORE, the parties
agree as follows:

 

ARTICLE
I.

INTRODUCTORY MATTERS

 

1.1 Defined
Terms.  In addition to the terms defined elsewhere herein, the following terms have the following meanings
when used herein with initial capital letters:

 

“Affiliate”
has the meaning set forth in Rule 12b-2 promulgated under the Exchange Act, as in effect on the date hereof.

 

“Agreement”
means this Stockholders Agreement, as the same may be amended, supplemented, restated or otherwise modified from time to time in
accordance with the terms hereof.

 

“Beneficially
Own” has the meaning set forth in Rule 13d-3 promulgated under the Exchange Act.

 

“Board”
means the Board of Directors of the Company.

 

“Business Day”
means a day other than a Saturday, Sunday, federal or New York State holiday or other day on which commercial banks in New York
City are authorized or required by law to close.

 

    	 

     

    

 

“Class I Director”
has the meaning set forth in the Organizational Documents of the Company.

 

“Class II Director”
has the meaning set forth in the Organizational Documents of the Company.

 

“Class III Director”
has the meaning set forth in the Organizational Documents of the Company.

 

“Common Stock”
means the shares of Class A Common Stock, par value $0.0001 per share, of the Company, and any equity securities issued in respect
thereof, or in substitution therefor, in connection with any stock split, dividend or combination, or any reclassification, recapitalization,
merger, consolidation or similar transaction. For the avoidance of doubt, for purposes of determining whether a Person Beneficially
Owns Common Stock of the Company under this Agreement, such Person’s ownership will include any limited liability company
units of Opco which such Person can exchange into shares of Common Stock pursuant to the Second Amended and Restated Limited Liability
Company Agreement of Opco and the Exchange Agreement (as defined in the Merger Agreement).

 

“Company”
has the meaning set forth in the Preamble.

 

“Confidential
Information” means any information concerning the Company or its Subsidiaries that is furnished after the date of this
Agreement by or on behalf of the Company or its designated representatives to the Stockholder or its designated representatives,
together with any notes, analyses, reports, models, compilations, studies, documents, records or extracts thereof containing, based
upon or derived from such information, in whole or in part; provided, however, that Confidential Information does
not include information:

 

		(i)	that is or has become publicly available other than as a result of a disclosure by the Stockholder
or its designated representatives in violation of this Agreement;

 

		(ii)	that was already known to the Stockholder or its designated representatives or was in the possession
of the Stockholder or its designated representatives, in either case without an obligation of confidentiality to the Company or
its Affiliate, prior to its being furnished by or on behalf of the Company or its designated representatives;

 

		(iii)	that is received by the Stockholder or its designated representatives from a source other than
the Company or its designated representatives; provided, that the source of such information was not actually known by such
Stockholder or designated representative to be bound by a confidentiality agreement with, or other contractual obligation of confidentiality
to, the Company or its Affiliate;

 

		(iv)	that was independently developed or acquired by the Stockholder or its designated representatives
or on its or their behalf, in any case, without the violation of the terms of this Agreement or the use of or reference to any
Confidential Information; or

 

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		(v)	that the Stockholder or its designated representatives is required, in the good faith determination
of the Stockholder or such designated representative, to disclose by applicable law, regulation or legal process; provided,
that the Stockholder or such designated representative (A) to the extent permitted by applicable law, notifies the Company reasonably
in advance of any such disclosure, (B) reasonably cooperates (at the Company’s sole expense) with the Company in any reasonable
efforts taken by the Company to prevent or limit such disclosure and (C) otherwise takes reasonable steps to minimize the extent
of any such required disclosure; provided, further, that the requirements of the foregoing proviso shall not be required
where disclosure is made in connection with a routine audit or examination by a regulatory or self-regulatory authority, bank examiner
or auditor and such audit or examination does not specifically reference the Company or this Agreement.

 

“Control”
(including its correlative meanings, “Controlled by” and “under common Control with”) means
possession, directly or indirectly, of the power to direct or cause the direction of management or policies (whether through ownership
of securities or partnership or other ownership interests, by contract or otherwise) of a Person.

 

“Director”
means any director of the Company from time to time.

 

“Exchange Act”
means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder, as the same may be
amended from time to time.

 

“Governmental
Authority” means any nation or government, any state or other political subdivision thereof, and any entity exercising
executive, legislative, judicial, regulatory or administrative functions of or pertaining to government.

 

“Immediate Family”
means, with respect to an individual, the spouse, domestic partner designated in good faith by such individual, lineal descendants
or antecedents of such individual, mother-in-law, father-in-law, son-in-law, daughter-in-law, adopted or step child or grandchild.

 

“Information”
has the meaning set forth in Section 3.1 hereof.

 

“Initial Board”
means the Board of Directors of the Company immediately following the consummation of the transactions contemplated by the Merger
Agreement.

 

“Insider Letter”
means that certain letter agreement, dated as of June 18, 2018, by and among Parent, Parent Sponsor and certain other signatories
thereto.

 

“Kight”
means Peter J. Kight.

 

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“Law”
means any statute, law, regulation, ordinance, rule, injunction, order, decree, governmental approval, directive, requirement,
or other governmental restriction or any similar form of decision of, or determination by, or any interpretation or administration
of any of the foregoing by, any Governmental Authority.

 

“Liquidation”
means the distribution by Parent Sponsor to its members of the securities of the Company that it owns in accordance with its Organizational
Documents and the Parent Sponsor Letter (as defined in the Merger Agreement).

 

“Merger”
has the meaning set forth in the Recitals.

 

“Merger Agreement”
has the meaning set forth in the Recitals.

 

“Merger Sub”
has the meaning set forth in the Recitals.

 

“NewCo has
the meaning set forth in Section 4.2 hereof.

 

“Non-Recourse
Party” has the meaning set forth in Section 5.14 hereof.

 

“Opco”
has the meaning set forth in the Recitals.

 

“Organizational
Documents” means: (1) the articles or certificate of incorporation and the bylaws of a corporation; (2) the partnership
agreement and any statement of partnership of a general partnership; (3) the limited partnership agreement and the certificate
of limited partnership of a limited partnership; (4) the limited liability company agreement, operating agreement and the certificate
of organization of a limited liability company, (5) the trust agreement and any documents that govern the formation of a trust;
(6) any charter or similar document adopted or filed in connection with the creation, formation, or organization of a Person; and
(7) any amendment to any of the foregoing.

 

“Parent”
has the meaning set forth in the Recitals.

 

“Parent Sponsor”
means Thunder Bridge Acquisition LLC, a Delaware limited liability company.

 

“Parent Sponsor
Letter” means that certain letter agreement, dated as of January 21, 2019, as amended, by and among Parent, Parent Sponsor
and Opco.

 

“Parent Sponsor
Member” means any member of Parent Sponsor as of the date of this Agreement.

 

“Permitted Transferee”
means, with respect to the Stockholder: (i) for so long as the Stockholder is Parent Sponsor, an Affiliate of the Stockholder,
so long as either (A) such Affiliate is wholly owned by the Stockholder, (B) such Affiliate directly or indirectly wholly owns
the Stockholder, or (C) the Stockholder and the transferee both have the same ultimate owners; (ii) for so long as the Stockholder
is the Stockholder Designator, a trust or other Affiliate entity of the Stockholder Designator that is controlled by the Stockholder
Designator, and the beneficiaries of which are comprised solely of the Stockholder Designator and the members of the Immediate
Family of the Stockholder Designator, provided, that any transfer of interests to such Permitted Transferee under this clause (ii)
is for bona fide inheritance or estate planning purposes; and (iii) irrespective of whether the Stockholder is Parent Sponsor or
the Stockholder Designator, a Parent Sponsor Member or any Related Party that has entered into a voting agreement with the Stockholder
or otherwise is otherwise part of a “group” for purposes of the Exchange Act and has filed a form with the SEC indicating
that it is part of a “group” with the Stockholder for purposes of the Exchange Act.

 

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“Person”
means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock company, a trust,
a joint venture, an unincorporated organization, or other form of business organization, whether or not regarded as a legal entity
under applicable Law, or any Governmental Authority or any department, agency or political subdivision thereof.

 

“Related Party”
means, (i) with respect to any Parent Sponsor Member that is a natural person, a trust or other Affiliate entity of such Parent
Sponsor Member that is controlled by such Parent Sponsor Member and the beneficiaries of which are comprised solely of such Parent
Sponsor Member and the members of the Immediate Family of such Parent Sponsor Member or (ii) with respect to any Parent Sponsor
Member, an Affiliate of such Parent Sponsor Member so long as either (x) such Affiliate is wholly owned by such Parent Sponsor
Member, (y) such Affiliate directly or indirectly wholly owns such Parent Sponsor Member or (z) such Parent Sponsor Member and
the transferee both have the same ultimate owners.

 

“Stockholder”
has the meaning set forth in the Preamble.

 

“Stockholder
Designator” has the meaning set forth in Section 2.4.

 

“Stockholder
Designee” has the meaning set forth in Section 2.1(c).

 

“Subsidiary”
means, with respect to any Person, any corporation, limited liability company, partnership, association or other business entity
of which: (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence
of any contingency) to vote in the election of directors, representatives or trustees thereof is at the time owned or Controlled,
directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or any combination thereof; or (ii)
if a limited liability company, partnership, association or other business entity, a majority of the total voting power of stock
(or equivalent ownership interest) of the limited liability company, partnership, association or other business entity is at the
time owned or Controlled, directly or indirectly, by that Person or one or more Subsidiaries of that Person or any combination
thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority ownership interest in a limited liability
company, partnership, association or other business entity if such Person or Persons shall (a) be allocated a majority of limited
liability company, partnership, association or other business entity gains or losses or shall be or (b) Control the managing member,
managing director or other governing body or general partner of such limited liability company, partnership, association or other
business entity.

 

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“Total Number
of Directors” means the total number of directors comprising the Board from time to time.

 

1.2 Construction.  The
language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no
rule of strict construction will be applied against any party. Unless the context otherwise requires: (a) “or”
is disjunctive but not exclusive, (b) words in the singular include the plural, and in the plural include the singular, (c) the
words “hereof,” “herein,” and “hereunder” and words of similar import
when used in this Agreement refer to this Agreement as a whole and not to any particular provision of this Agreement, and Section
references are to this Agreement unless otherwise specified, and (d) the words “include”, “includes” and
“including” shall be deemed to be followed by the phrase “without limitation”.

 

ARTICLE
II.

CORPORATE GOVERNANCE MATTERS

 

2.1 Election
of Directors.

 

(a) The
Stockholder and the Company agree that the Initial Board as of the consummation of the transactions contemplated by the Merger
Agreement will consist of the following nine (9) individuals: Jeremy Schein; Paul R. Garcia; Shaler Alias; Richard E. Thornburgh;
Robert H. Hartheimer; Maryann Goebel; William Jacobs; John Morris; and Peter J. Kight, or such replacement Directors as are designated
pursuant to the Merger Agreement.

 

(b) 
For as long as the Stockholder and its Permitted Transferees Beneficially Own at least five percent (5%) the outstanding Common
Stock, the Stockholder Designator shall have the right, but not the obligation, to designate, and the individuals nominated for
election as Directors by, or at the direction of, the Board or a duly-authorized committee thereof shall include, the Stockholder
Designee (as defined below), who shall be a Class I Director. The rights of the Stockholder Designator set forth in this Section
2.1(b) shall at all times be subject to the requirement that the Stockholder Designee shall (1), in each case under applicable
rules of the Nasdaq Stock Market or any other market upon which the shares of Common Stock are then listed, (i) be eligible to
serve as a Director, (ii) qualify as an independent director and (iii) be eligible to serve on the audit committee of the Company
and (2) be willing to serve on the audit committee of the Company.

 

(c) If
at any time Paul R. Garcia is no longer the Stockholder Designee in accordance herewith, and the Stockholder Designator has not
designated an individual that the Stockholder Designator is then entitled to designate pursuant to Section 2.1(b) hereof
as the Stockholder Designee, the Stockholder Designator shall have the right, at any time and from time to time, to designate such
individual which it is entitled to so designate as the Stockholder Designee, in which case, any individual nominated by or at the
direction of the Board or any duly-authorized committee thereof for election as a Director to fill any vacancy on the Board shall
include such designee, and the Company shall use its best efforts to (x) effect the election of such designee, whether by increasing
the size of the Board or otherwise, and (y) cause the election of such designee to fill any such newly-created vacancies or to
fill any other existing vacancies. Paul R. Garcia, for so long as he serves as a Director and otherwise qualifies to serve as the
Stockholder Designee pursuant to the requirements herein, and each such subsequent individual whom the Stockholder Designator shall
actually designate pursuant to Section 2.1(b) and who is thereafter elected and qualified to serve as a Director shall be
referred to herein as the “Stockholder Designee”. For so long as Paul R. Garcia is willing and, in each case
under applicable rules of the Nasdaq Stock Market or any other market upon which the shares of Common Stock are then listed, (i)
eligible to serve as a Director, (ii) qualifies as an independent director and (iii) is eligible to serve on the audit committee
of the Company, the Stockholder Designator shall continue to designate Paul R. Garcia (and no other person) as the Stockholder
Designee; provided, however, that notwithstanding the foregoing, the Stockholder Designator may designate a person other than Paul
R. Garcia as the Stockholder Designee with the prior written consent of the Company.

 

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(d) Directors
are subject to removal pursuant to the applicable provisions of the Organizational Documents of the Company; provided, however,
for as long as this Agreement remains in effect, subject to applicable Law, the Stockholder Designee may only be removed with the
consent of the Stockholder Designator.

 

(e) In
the event that a vacancy is created at any time by death, retirement, removal, disqualification, resignation or other cause with
respect to the Stockholder Designee, any individual nominated by or at the direction of the Board or any duly-authorized committee
thereof to fill such vacancy shall be, and the Company shall use its best efforts to cause such vacancy to be filled, as soon as
possible by, a new designee of the Stockholder Designator, and the Company shall take or cause to be taken, to the fullest extent
permitted by law, at any time and from time to time, all actions necessary to accomplish the same.

 

(f) The
Company shall, to the fullest extent permitted by law, include the Stockholder Designee in the slate of nominees recommended by
the Board at any meeting of stockholders called for the purpose of electing directors (or consent in lieu of meeting), and use
its best efforts to cause the election of the Stockholder Designee to the Board, including nominating the Stockholder Designee
to be elected as a Director as provided herein, recommending the Stockholder Designee’s election and soliciting proxies or
consents in favor thereof. In the event that the Stockholder Designee shall fail to be elected to the Board at any meeting of stockholders
called for the purpose of electing directors (or consent in lieu of meeting), the Company shall use its best efforts to cause the
Stockholder Designee (or a new designee of the Stockholder Designator) to be elected to the Board, as soon as possible, and the
Company shall take or cause to be taken, to the fullest extent permitted by law, at any time and from time to time, all actions
necessary to accomplish the same.

 

(g) In
addition to any vote or consent of the Board or the stockholders of the Company required by applicable Law or the Organizational
Documents of the Company, and notwithstanding anything to the contrary in this Agreement, for so long as this Agreement is in effect,
any action by the Board to increase or decrease the Total Number of Directors (other than any increase in the Total Number of Directors
in connection with the election of one or more Directors elected exclusively by the holders of one or more classes or series of
the Company’s shares other than Common Stock) shall require the prior written consent of the Stockholder Designator.

 

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2.2 Compensation.
Except to the extent the Stockholder Designator may otherwise notify the Company, the Stockholder Designee shall be entitled to
compensation consistent with the compensation received by other non-employee Directors, including any fees and equity awards.

 

2.3 Other
Rights of the Stockholder Designee. Except as provided in Section 2.2, the Stockholder Designee, while serving on the
Board, shall be entitled to the same rights and privileges applicable to all other members of the Board generally or to which
all such members of the Board are entitled. In furtherance of the foregoing, the Company shall indemnify, exculpate, and reimburse
fees and expenses of the Stockholder Designee (including by entering into an indemnification agreement in a form substantially
similar to the Company’s form director indemnification agreement) and provide the Stockholder Designee with director and
officer insurance to the same extent it indemnifies, exculpates, reimburses and provides insurance for the other members of the
Board pursuant to the Organizational Documents of the Company, applicable law or otherwise.

 

2.4 Stockholder
Designator. The Stockholder hereby irrevocably agrees that Kight shall be the Stockholder Designator; provided, however, that
in the event of the death or incapacity of Kight, the Stockholder Designator shall automatically become Robert H. Hartheimer;
and provided, further, that in the event of the death or incapacity of both Robert H. Hartheimer and Kight, this Agreement shall
terminate in accordance with the provisions of Section 5.1(a)(v) hereof, but subject to the provisions of Section 5.1(b)
hereof. Kight, or such other person then serving as the Stockholder Designator at any time under this Agreement in accordance
with this Section 2.4 shall be referred to herein as the “Stockholder Designator”.

 

ARTICLE
III.

INFORMATION

 

3.1 Books
and Records; Access.  The Company shall, and shall cause its Subsidiaries to, keep proper books, records and accounts,
in which full and correct entries shall be made of all financial transactions and the assets and business of the Company and each
of its Subsidiaries in accordance with generally accepted accounting principles. The Company shall, and shall cause its Subsidiaries
to, (a) permit the Stockholder and its designated representatives (or other designees), at reasonable times and upon reasonable
prior notice to the Company, to review the books and records of the Company or any of such Subsidiaries and to discuss the affairs,
finances and condition of the Company or any of such Subsidiaries with the officers of the Company or any such Subsidiary and
(b) provide the Stockholder all information of a type, at such times and in such manner as is consistent with the Company’s
past practice or that is otherwise reasonably requested by the Stockholder from time to time (all such information so furnished
pursuant to this Section 3.1, the “Information”). Subject to Section 3.4, the Stockholder (and
any party receiving Information from the Stockholder) who shall receive Information shall maintain the confidentiality of such
Information. Notwithstanding the foregoing, the Company shall not be required to disclose any privileged Information of the Company
so long as the Company has used commercially reasonable efforts to enter into an arrangement pursuant to which it may provide
such information to the Stockholder without the loss of any such privilege.

 

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3.2 Certain
Reports.  The Company shall deliver or cause to be delivered to the Stockholder, at its request:

 

(a) to
the extent otherwise prepared by the Company, operating and capital expenditure budgets and periodic information packages relating
to the operations and cash flows of the Company and its Subsidiaries; and

 

(b) to
the extent otherwise prepared by the Company, such other reports and information as may be reasonably requested by the Stockholder;
provided, however, that the Company shall not be required to disclose any privileged information of the Company so
long as the Company has used commercially reasonable efforts to enter into an arrangement pursuant to which it may provide such
information to the Stockholder without the loss of any such privilege.

 

3.3 Confidentiality.
The Stockholder agrees that it will, and will direct its designated representatives to, keep confidential and not disclose any
Confidential Information; provided, however, that the Stockholder and its designated representatives may disclose
Confidential Information to the Stockholder Designee and to (a) their and their Affiliates’ respective attorneys, accountants,
consultants, insurers, financing sources and other advisors in connection with the Stockholder’s investment in the Company,
(b) any Person, including a prospective purchaser of Common Stock, as long as such Person has agreed, in writing, to customary
confidentiality restrictions with respect to such Confidential Information, (c) any of the Stockholder’s or its respective
Affiliates’ partners, members, stockholders, directors, officers, employees or agents who reasonably need to know such information
in the ordinary course of business (the Persons referenced in clauses (a), (b) and (c), the Stockholder’s “designated
representatives”) or (d) as the Company may otherwise consent in writing; provided, further, however,
that (i) each designated representative be under an obligation of confidentiality to either the Company or the Stockholder with
respect to such Confidential Information and (ii) the Stockholder agrees to be responsible for any breaches of this Section
3.3 by the Stockholder’s designated representatives.

 

3.4 Information
Sharing. Each party hereto acknowledges and agrees that the Stockholder Designee may share any information concerning the
Company and its Subsidiaries received by them from or on behalf of the Company or its designated representatives with the Stockholder
and its designated representatives (subject to the Stockholder’s obligation to maintain the confidentiality of Confidential
Information in accordance with Section 3.3).

 

ARTICLE
IV.

ADDITIONAL COVENANTS

 

4.1 Pledges.  Upon
the request of the Stockholder that it wishes to pledge, hypothecate or grant security interests in any or all of the Common Stock
held by it, including to banks or financial institutions as collateral or security for loans, advances or extensions of credit,
the Company agrees to reasonably cooperate with the Stockholder in taking any action reasonably necessary to consummate any such
pledge, hypothecation or grant, including without limitation, delivery of letter agreements to lenders in form and substance reasonably
satisfactory to such lenders (which may include agreements by the Company in respect of the exercise of remedies by such lenders)
and instructing the transfer agent to transfer any such Common Stock subject to the pledge, hypothecation or grant into the facilities
of The Depository Trust Company without restricted legends; provided, in each case, that the Stockholder is not otherwise restricted
from pledging, hypothecating or granting a security interest in such Common Stock under the terms of the Parent Sponsor Director
Support Agreements (as defined in the Merger Agreement) or any other agreement with the Company or applicable securities Law.

 

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4.2 Spin-Offs
or Split-Offs. In the event that the Company effects the separation of any portion of its business into one or more entities
(each, a “NewCo”), whether existing or newly formed, including without limitation by way of spin-off, split-off,
carve-out, demerger, recapitalization, reorganization or similar transaction, and the Stockholder will receive equity interests
in any such NewCo as part of such separation, the Company shall cause any such NewCo to enter into a Stockholders agreement with
the Stockholder that provides the Stockholder with rights vis-á-vis such NewCo that are substantially identical to those
set forth in this Agreement.

 

ARTICLE
V.

GENERAL PROVISIONS

 

5.1 Termination.  

 

(a) This
Agreement shall terminate on the earlier to occur of (i) such time as the Stockholder and its Permitted Transferees Beneficially
Own less than 5% of the outstanding Common Stock, (ii) the delivery of a written notice by the Stockholder to the Company requesting
that this Agreement terminate, (iii) the date that is five (5) years from the date hereof, (iv) the later of (A) the vesting of
100% of the Sponsor Escrow Shares (as defined in the Parent Sponsor Letter) in accordance with the terms of the Parent Sponsor
Letter and (B) the expiration of the Founder Shares Lock-Up Period (as defined in the Insider Letter) and (v) upon the death or
incapacity of both of Kight and Robert H. Hartheimer.

 

(b) From
the date hereof until the earlier of:

 

(i) such
time that this Agreement has been terminated pursuant to clauses (i) through (iv) of Section 5.1(a); or

 

(ii) the
occurrence of any of the events that would have caused the termination of this Agreement under clauses (i), (iii) or (iv) of Section
5.1(a) after this Agreement has been terminated pursuant to clause (v) of Section 5.1(a);

 

the Company shall cause
the charter of its nominating and corporate governance committee to provide that in the event of a termination of this Agreement
pursuant to clause (v) of Section 5.1(a), until any of the events that would have caused the termination of this Agreement
under clauses (i), (iii) or (iv) of Section 5.1(a) have occurred, (A) for so long as Paul R. Garcia is willing and eligible
to serve in accordance with the terms of Section 2.1(b) hereof, the nominating and governance committee of the Board shall
continue to include Paul R. Garcia among its nominees for Directors for the Class I Director seat held by Paul R. Garcia on the
Initial Board and (B) if Paul R. Garcia is no longer willing or eligible to serve in accordance with the terms of Section 2.1(b)
hereof, the nominating and governance committee of the Board will nominate an independent director in such Class I Director seat
who otherwise satisfies the requirements applicable to the Stockholder Designee under the last sentence of Section 2.1(b)
hereof; provided, that without limiting their eligibility to serve as Directors pursuant to any other agreement or otherwise with
respect to any other board seat, no Affiliate of the Company Sponsor (as defined in the Merger Agreement) nor any officer, director,
manager, employee, partner, member or stockholder of the Company Sponsor or any Affiliate thereof will be nominated in lieu of
Paul R. Garcia or any successor Director to Paul R. Garcia. This Section 5.1(b) (and any provisions related to the enforcement
or interpretation thereof) will survive any termination of this Agreement and shall be enforceable by any Permitted Transferee
as an express third party beneficiary.

 

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5.2 Notices.  Any
notice, designation, request, request for consent or consent provided for in this Agreement shall be in writing and shall be either
personally delivered, sent by facsimile or sent by reputable overnight courier service (charges prepaid) to the Company at the
address set forth below and to any other recipient at the address indicated on the Company’s records, or at such address
or to the attention of such other Person as the recipient party has specified by prior written notice to the sending party. Notices
and other such documents will be deemed to have been given or made hereunder when delivered personally or sent by facsimile (receipt
confirmed) and one (1) Business Day after deposit with a reputable overnight courier service.

 

The Company’s address is:

 

Repay Holdings Corporation

3 West Paces Ferry Road, Suite 200

Atlanta, Georgia 30305

Attention: John A. Morris, CEO

Phone: (404) 504-7474

Email: jmorris@repayonline.com

 

The Stockholder’s address is:

 

Thunder Bridge Acquisition LLC

9912 Georgetown Pike, Suite D203

Great Falls, Virginia 22066

		Attention:	Gary A. Simanson

Peter J. Kight

Phone: (202) 431-0507 (phone)

 

		Email:	gsimanson@thunderbridge.us

pkight@thunderbridge.us

 

5.3 Amendment;
Waiver.  This Agreement may be amended, supplemented or otherwise modified only by a written instrument executed
by the Company and the other parties hereto. Neither the failure nor delay on the part of any party hereto to exercise any right,
remedy, power or privilege under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of
any right, remedy, power or privilege preclude any other or further exercise of the same or of any other right, remedy, power
or privilege, nor shall any waiver of any right, remedy, power or privilege with respect to any occurrence be construed as a waiver
of such right, remedy, power or privilege with respect to any other occurrence. No waiver shall be effective unless it is in writing
and is signed by the party asserted to have granted such waiver.

 

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5.4 Further
Assurances.  The parties hereto will sign such further documents, cause such meetings to be held, resolutions passed,
exercise their votes and do and perform and cause to be done such further acts and things necessary, proper or advisable in order
to give full effect to this Agreement and every provision hereof. To the fullest extent permitted by law, the Company shall not
directly or indirectly take any action that is intended to, or would reasonably be expected to result in, the Stockholder being
deprived of the rights contemplated by this Agreement.

 

5.5 Assignment.  This
Agreement may not be assigned without the express prior written consent of the other party hereto, and any attempted assignment,
without such consent, will be null and void; provided, however, that, upon the Liquidation of Parent Sponsor, the rights of Parent
Sponsor under this Agreement shall automatically be assigned to the Stockholder Designator without further action by any party
hereto or any other Person, and the Stockholder Designator shall be considered the “Stockholder” for all purposes
hereunder; provided, further, that, for the avoidance of doubt, if upon such automatic assignment this Agreement would have been
terminated under clause (i) of Section 5.1(a), then instead of such assignment this Agreement shall automatically terminate
upon such Liquidation. This Agreement will inure to the benefit of and be binding on the parties hereto and their respective successors
and permitted assigns.

 

5.6 Third
Parties.  Except for the rights of the Stockholder Designator as expressly set forth in this Agreement, including
Sections 2.4 and 5.5 hereof, and subject to Section 5.1(b), this Agreement does not create any rights, claims
or benefits inuring to any person that is not a party hereto nor create or establish any third party beneficiary hereto.

 

5.7 Governing
Law.  THIS AGREEMENT AND ITS ENFORCEMENT AND ANY CONTROVERSY ARISING OUT OF OR RELATING TO THE MAKING OR PERFORMANCE
OF THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

5.8 Jurisdiction;
Waiver of Jury Trial.  Each party hereto hereby (i) agrees that any action, directly or indirectly, arising out
of, under or relating to this Agreement shall exclusively be brought in and shall exclusively be heard and determined by either
the Supreme Court of the State of New York sitting in Manhattan or the United States District Court for the Southern District
of New York, and (ii) solely in connection with the action(s) contemplated by subsection (i) hereof, (A) irrevocably and unconditionally
consents and submits to the exclusive jurisdiction of the courts identified in subsection (i) hereof, (B) irrevocably and unconditionally
waives any objection to the laying of venue in any of the courts identified in clause (i) of this Section 5.8, (C) irrevocably
and unconditionally waives and agrees not to plead or claim that any of the courts identified in such clause (i) is an inconvenient
forum or does not have personal jurisdiction over any party hereto, and (D) agrees that mailing of process or other papers in
connection with any such action in the manner provided herein or in such other manner as may be permitted by applicable law shall
be valid and sufficient service thereof. Each party hereto hereby irrevocably waives,
to the fullest extent permitted by applicable law, any right it may have to a trial by jury in respect of any claim or action
directly or indirectly arising out of, under or in connection with this Agreement or the services contemplated hereby.

 

    	12

     

    

 

5.9 Specific
Performance.  Each party hereto acknowledges and agrees that in the event of any breach of this Agreement by any
of them, the other parties hereto would be irreparably harmed and could not be made whole by monetary damages. Each party accordingly
agrees to waive the defense in any action for specific performance that a remedy at law would be adequate and agrees that the
parties, in addition to any other remedy to which they may be entitled at law or in equity, shall be entitled to specific performance
of this Agreement without the posting of a bond.

 

5.10 Entire
Agreement.  This Agreement sets forth the entire understanding of the parties hereto with respect to the subject
matter hereof. There are no agreements, representations, warranties, covenants or understandings with respect to the subject matter
hereof or thereof other than those expressly set forth herein and therein. This Agreement supersedes all other prior agreements
and understandings between the parties with respect to such subject matter. Notwithstanding the foregoing, nothing herein shall
affect the rights and obligations of the Company or the Stockholder or its Affiliates under any other agreements with respect
to confidentiality and non-use of information, which the parties express agree shall not be superseded by the terms of this Agreement.

 

5.11 Severability.
If any provision of this Agreement, or the application of such provision to any Person or circumstance or in any jurisdiction,
shall be held to be invalid or unenforceable to any extent, (i) the remainder of this Agreement shall not be affected thereby,
and each other provision hereof shall be valid and enforceable to the fullest extent permitted by law, (ii) as to such Person
or circumstance or in such jurisdiction such provision shall be reformed to be valid and enforceable to the fullest extent permitted
by law, and (iii) the application of such provision to other Persons or circumstances or in other jurisdictions shall not be affected
thereby.

 

5.12 Table
of Contents, Headings and Captions.  The table of contents, headings, subheadings and captions contained in this
Agreement are included for convenience of reference only, and in no way define, limit or describe the scope of this Agreement
or the intent of any provision hereof.

 

5.13 Counterparts.  This
Agreement and any amendment hereto may be signed in any number of separate counterparts (including by facsimile, pdf or other
electronic document transmission), each of which shall be deemed an original, but all of which taken together shall constitute
one Agreement (or amendment, as applicable).

 

5.14 No
Recourse.  This Agreement may only be enforced against, and any claims or cause of action that may be based upon,
arise out of or relate to this Agreement, or the negotiation, execution or performance of this Agreement, the transactions contemplated
hereby or the subject matter hereof may only be made against, the parties hereto and no past, present or future Affiliate, director,
officer, employee, incorporator, member, manager, partner, stockholder, agent, attorney or representative of any party hereto
or any past, present or future Affiliate, director, officer, employee, incorporator, member, manager, partner, stockholder, agent,
attorney or representative of any of the foregoing (each, a “Non-Recourse Party”) shall have any liability
for any obligations or liabilities of the parties to this Agreement or for any claim based on, in respect of, or by reason of,
the transactions contemplated hereby. Without limiting the rights of any party against the other parties hereto, in no event shall
any party or any of its Affiliates seek to enforce this Agreement against, make any claims for breach of this Agreement against,
or seek to recover monetary damages from, any Non-Recourse Party.

 

[Remainder of Page Intentionally Left
Blank]

 

    	13

     

    

 

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement on the day and year first above written.

  

	 	COMPANY
	 	 
	 	Repay Holdings Corporation,
	 	a Delaware corporation
	 	 
	 	By:	    
	 	Name:	 
	 	Title:	 

 

	 	STOCKHOLDER
	 	 
	 	Thunder Bridge Acquisition LLC,
	 	a Delaware limited liability company
	 	 
	 	By:	        
	 	Name:	 
	 	Title:	 

 

[Signature Page to Parent Sponsor
Stockholders Agreement]Exhibit (10)(a)

    

    

    

    

    

    

    Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm

    

    

    

    

    We consent to the reference to our firm under the caption “Independent Registered Public Accounting Firm” in Post-Effective Amendment
        No. 49 to the 1933 Act Registration Statement (Form N-4 No. 333-138190) and Amendment No. 677 to the 1940 Act Registration Statement (Form N-4 No. 811-08517), and to the use therein of our reports dated (a) March 13, 2019, with respect to the
        consolidated financial statements of The Lincoln National Life Insurance Company and (b) April 16, 2019, with respect to the financial statements of Lincoln Life Variable Annuity Account N for the registration of interests in a separate account
        under individual flexible payment deferred variable annuity contracts.

    

    

    /s/ Ernst & Young LLP

    

    

    Philadelphia, Pennsylvania

    June 14, 2019

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