Document:

Exhibit 10.6

 

UNIT SUBSCRIPTION AGREEMENT

 

This UNIT SUBSCRIPTION
AGREEMENT (this “Agreement”) is made as of the 24th day of August 2017, by and between Draper Oakwood
Technology Acquisition, Inc., a Delaware corporation (the “Company”), having its principal place of business
at 55 East 3rd Ave., San Mateo, CA 94401, and EarlyBirdCapital, Inc., a Delaware corporation (the “Subscriber”),
having its principal place of business at 366 Madison Avenue, New York, New York 10017.

 

WHEREAS, the Company
desires to sell to the Subscriber on a private placement basis (the “Offering”) an aggregate of 50,000 units
(the “Initial Units”) of the Company, and up to an additional 4,500 units (the “Additional Units”
and together with the Initial Units, the “Units”) of the Company in the event that the underwriters’ 45-day
over-allotment option (“Over-Allotment Option”) is exercised in full or part, each Unit comprised of one share
of Class A common stock of the Company, par value $0.0001 per share (“Common Stock”), one right (“Right”)
to receive one-tenth of one share of Common Stock upon the consummation of a Business Combination (defined below), to be governed
by the Right Agreement (defined herein), and one-half of one warrant, each whole warrant exercisable to purchase one share of Common
Stock (“Warrant”), for a purchase price of $10.00 per Unit. The shares of Common Stock underlying the Rights
are hereinafter referred to as the “Right Shares”.  The shares of Common Stock underlying the Warrants
are hereinafter referred to as the “Warrant Shares”.  The shares of Common Stock underlying the Units
(excluding the Right Shares and Warrant Shares) are hereinafter referred to as the “Placement Shares.” The Rights
underlying the Units are hereinafter referred to as the “Placement Rights.” The Warrants underlying the Units
are hereinafter referred to as the “Placement Warrants.”  The Units, Placement Shares, Placement Rights,
Placement Warrants, Right Shares and Warrant Shares, collectively, are hereinafter referred to as the “Securities.”  Each
whole Placement Warrant is exercisable to purchase one full share of Common Stock at an exercise price of $11.50 during the period
commencing on the later of (i) twelve (12) months from the date of the closing of the Company’s initial public offering of
units (the “IPO”) and (ii) 30 days following the consummation of the Company’s initial business combination
(the “Business Combination”), as such term is defined in the registration statement in connection with the IPO,
as amended at the time it becomes effective (the “Registration Statement”), and expiring on the fifth anniversary
of the consummation of the Business Combination; provided however, that so long as the Placement Warrants are held by the Subscriber
or its designee, they will not be permitted to exercise such Placement Warrants after the five year anniversary of the effective
date of the Registration Statement; and

 

WHEREAS, the Subscriber
wishes to purchase 50,000 Initial Units and up to 4,500 Additional Units, and the Company wishes to accept such subscription from
Subscriber.

 

NOW, THEREFORE, in
consideration of the premises and the mutual covenants hereinafter set forth and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the Company and Subscriber hereby agree as follows:

 

1.     Agreement
to Subscribe

 

	 	1.1.	Purchase and Issuance of the Units.

 

	 	(a)	Upon the terms and subject to the conditions of this Agreement, the Subscriber hereby agrees to purchase from the Company, and the Company hereby agrees to sell to the Subscriber, on the Closing Date (as defined below) the Initial Units in consideration of the payment of the Initial Purchase Price (as defined below). On the Closing Date, or within a reasonable time after the Closing Date, but in no event later than thirty (30) days after the Closing Date, the Company shall deliver to the Subscriber the certificates representing the Securities purchased.

 

	 	(b)	Subscriber hereby agrees to purchase up to an additional 4,500 Additional Units at $10.00 per Additional Unit for a purchase price of up to $45,000. The purchase and issuance of the Additional Units shall occur only in the event that the Over-Allotment Option is exercised in full or in part. The total number of Additional Units to be purchased hereunder shall be in the same proportion as the proportion of the Over-Allotment Option that is exercised. Each purchase of Additional Units shall occur simultaneously with the consummation of any portion of the Over-Allotment Option.

 

     

     

    

 

	 	1.2.	Purchase Price.

 

	 	(a)	As payment in full for the Initial Units being purchased under this Agreement, the Subscriber shall pay $500,000 (the “Initial Purchase Price”) by wire transfer of immediately available funds or by such other method as may be reasonably acceptable to the Company, to the trust account (the “Trust Account”) at a financial institution to be chosen by the Company, maintained by Continental Stock Transfer & Trust Company, acting as trustee (“Continental”), or into an escrow account maintained by Ellenoff Grossman & Schole LLP (“EG&S”), counsel for the Company, one (1) business day prior to the date of effectiveness of the Registration Statement.

 

	 	(b)	As payment in full for the Additional Units being purchased under this Agreement, the Subscriber shall pay $10.00 per Additional Unit being purchased by wire transfer of immediately available funds or by such other method as may be reasonably acceptable to the Company, to the Trust Account at a financial institution to be chosen by the Company, maintained by Continental, or into an escrow account maintained by EG&S, one (1) business day prior to the Closing Date of the Over-Allotment Option.

 

1.3.   
Closing. The closing of the purchase and sale of the Initial Units shall take place simultaneously with the closing of the IPO
and the closing of the purchase and sale of Additional Units shall take place simultaneously with the closing of the Over-Allotment
Option (each a “Closing Date”). The closing of the purchase and sale of the Units shall take place at the offices
of EG&S, 1345 Avenue of the Americas, 11th Floor, New York, New York, 10105, or such other place as may be
agreed upon by the parties hereto.

 

1.4      Termination.
This Agreement and each of the obligations of the undersigned shall be null and void and without effect if a Closing does not occur
prior to September 30, 2017.

  

2.     Representations
and Warranties of Subscriber

 

Subscriber represents
and warrants to the Company that:

 

2.1.    No
Government Recommendation or Approval.  Subscriber understands that no federal or state agency has passed upon or made
any recommendation or endorsement of the Company or the Offering of the Securities.

 

2.2.   
Accredited Investor. Subscriber represents that it is an “accredited investor” as such term is defined in Rule 501(a)
of Regulation D under the Securities Act of 1933, as amended (the “Securities Act”), and acknowledges that the
sale contemplated hereby is being made in reliance, among other things, on a private placement exemption to “accredited investors”
under the Securities Act and similar exemptions under state law.

 

2.3.   
Intent.  Subscriber is purchasing the Securities solely for investment purposes, for Subscriber’s own account and
not with a view to the distribution thereof and Subscriber has no present arrangement to sell the Securities to or through any
person or entity except as may be permitted under the Insider Letter.  Subscriber shall not engage in hedging transactions
with regard to the Securities unless in compliance with the Securities Act.

  

2.4.   
Restrictions on Transfer.  Subscriber acknowledges and understands the Units are being offered in a transaction not involving
a public offering in the United States within the meaning of the Securities Act.  The Securities have not been registered
under the Securities Act and, if in the future Subscriber decides to offer, resell, pledge or otherwise transfer the Securities,
such Securities may be offered, resold, pledged or otherwise transferred only (A) pursuant to an effective registration statement
filed under the Securities Act, (B) pursuant to an exemption from registration under Rule 144 promulgated under the Securities
Act, if available, or (C) pursuant to any other available exemption from the registration requirements of the Securities Act,
and in each case in accordance with any applicable securities laws of any state or any other jurisdiction. Notwithstanding the
foregoing, Subscriber acknowledges and understands the Securities are subject to transfer restrictions as described in Section
5 hereof. Subscriber agrees that if any transfer of its Securities or any interest therein is proposed to be made, as a condition
precedent to any such transfer, Subscriber may be required to deliver to the Company an opinion of counsel satisfactory to the
Company with respect to such transfer. Absent registration or another available exemption from registration, Subscriber agrees
it will not resell the Securities (unless otherwise permitted herein, as described in the Registration Statement).  Subscriber
further acknowledges that because the Company is a shell company, Rule 144 may not be available to Subscriber for the resale of
the Securities until the one year anniversary following consummation of the initial Business Combination of the Company, despite
technical compliance with the requirements of Rule 144 and the release or waiver of any contractual transfer restrictions.

 

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2.5.  Sophisticated
Investor.

 

(i)  Subscriber
is sophisticated in financial matters and is able to evaluate the risks and benefits of the investment in the Securities.

 

(ii) Subscriber is
aware that an investment in the Securities is highly speculative and subject to substantial risks because, among other things,
the Securities are subject to transfer restrictions and have not been registered under the Securities Act and therefore cannot
be sold unless subsequently registered under the Securities Act or an exemption from such registration is available. Subscriber
is able to bear the economic risk of its investment in the Securities for an indefinite period of time.

 

2.6.   Independent
Investigation.  Subscriber, in making the decision to purchase the Units, has relied upon an independent investigation
of the Company and has not relied upon any information or representations made by any third parties or upon any oral or written
representations or assurances from the Company, its officers, directors or employees or any other representatives or agents of
the Company, other than as set forth in this Agreement. Subscriber is familiar with the business, operations and financial condition
of the Company and has had an opportunity to ask questions of, and receive answers from the Company’s officers and directors
concerning the Company and the terms and conditions of the offering of the Units and has had full access to such other information
concerning the Company as Subscriber has requested. Subscriber confirms that all documents that it has requested have been made
available and that Subscriber has been supplied with all of the additional information concerning this investment which Subscriber
has requested.

 

2.7   Organization
and Authority.  Subscriber is duly organized, validly existing and in good standing under the laws of the State of Delaware
and it possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement.

 

2.8.  Authority.
This Agreement has been validly authorized, executed and delivered by Subscriber and is a valid and binding agreement enforceable
in accordance with its terms, subject to the general principles of equity and to bankruptcy or other laws affecting the enforcement
of creditors’ rights generally.

  

2.9.   
No Conflicts. The execution, delivery and performance of this Agreement and the consummation by Subscriber of the transactions
contemplated hereby do not violate, conflict with or constitute a default under (i) Subscriber's charter documents, (ii) any
agreement or instrument to which Subscriber is a party or (iii) any law, statute, rule or regulation to which Subscriber is subject,
or any agreement, order, judgment or decree to which Subscriber is subject.

 

2.10.  No Legal
Advice from Company.  Subscriber acknowledges it has had the opportunity to review this Agreement and the transactions
contemplated by this Agreement and the other agreements entered into between the parties hereto with Subscriber’s own legal
counsel and investment and tax advisors.  Except for any statements or representations of the Company made in this Agreement
and the other agreements entered into between the parties hereto, Subscriber is relying solely on such counsel and advisors and
not on any statements or representations of the Company or any of its representatives or agents for legal, tax or investment advice
with respect to this investment, the transactions contemplated by this Agreement or the securities laws of any jurisdiction.

 

2.11.  Reliance
on Representations and Warranties.  Subscriber understands the Units are being offered and sold to Subscriber in reliance
on exemptions from the registration requirements under the Securities Act, and analogous provisions in the laws and regulations
of various states, and that the Company is relying upon the truth and accuracy of the representations, warranties, agreements,
acknowledgments and understandings of Subscriber set forth in this Agreement in order to determine the applicability of such provisions.

 

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2.12.  No General
Solicitation.  Subscriber is not subscribing for the Units as a result of or subsequent to any general solicitation or
general advertising, including but not limited to any advertisement, article, 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 in a registration statement
with respect to the IPO filed with the Securities and Exchange Commission (“SEC”).

 

2.13.  Legend.  Subscriber
acknowledges and agrees the certificates evidencing each of the Securities shall bear a restrictive legend (the “Legend”),
in form and substance substantially as set forth in Section 4 hereof.

 

3.    Representations,
Warranties and Covenants of the Company

 

The Company represents
and warrants to, and agrees with, Subscriber that:

 

3.1.   
Valid Issuance of Capital Stock. The total number of shares of all classes of capital stock which the Company has authority to
issue is 15,000,000 shares of Class A Common Stock, 3,000,000 shares of Class F Common Stock, $0.0001 par value per share (the
“Class F Common Stock”), and 1,000,000 shares of preferred stock, $0.0001 par value per share (“Preferred
Stock”). As of the date hereof, the Company has issued and outstanding 1,437,500 shares of Class F Common Stock (of which
up to 187,500 shares are subject to forfeiture as described in the Registration Statement), no shares of Class A Common Stock and
no shares of Preferred Stock. All of the issued shares of capital stock of the Company have been duly authorized, validly issued,
and are fully paid and non-assessable.

 

3.2    
Title to Securities.  Upon issuance in accordance with, and payment pursuant to, the terms hereof, that certain right
agreement to be entered into with Continental, as rights agent (the “Right Agreement”) and that certain warrant
agreement to be entered into between the Company and Continental, as warrant agent (the “Warrant Agreement”),
as the case may be, each of the Units, Placement Shares, Placement Rights, Placement Warrants, Right Shares and Warrant Shares
will be duly and validly issued, fully paid and non-assessable. On the date of issuance of the Units, the Right Shares and Warrant
Shares shall have been reserved for issuance. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the
Right Agreement and the Warrant Agreement, as the case may be, Subscriber will have or receive good title to the Units, Placement
Shares, Placement Rights and Placement Warrants, free and clear of all liens, claims and encumbrances of any kind, other than (i)
transfer restrictions hereunder and (ii) transfer restrictions under federal and state securities laws.

  

3.3.   
Organization and Qualification. The Company is a corporation duly incorporated, validly existing and in good standing under the
laws of the State of Delaware and has the requisite corporate power to own its properties and assets and to carry on its business
as now being conducted.

 

3.4.   
Authorization; Enforcement. (i) The Company has the requisite corporate power and authority to enter into and perform its
obligations under this Agreement and to issue the Securities in accordance with the terms hereof, (ii) the execution, delivery
and performance of this Agreement by the Company and the consummation by it of the transactions contemplated hereby have been duly
authorized by all necessary corporate action, and no further consent or authorization of the Company or its Board of Directors
or stockholders is required, and (iii) this Agreement constitutes valid and binding obligations of the Company enforceable
against the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency,
fraudulent conveyance, moratorium, reorganization, or similar laws relating to, or affecting generally the enforcement of, creditors’
rights and remedies or by equitable principles of general application and except as enforcement of rights to indemnity and contribution
may be limited by federal and state securities laws or principles of public policy.

 

3.5.   
No Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions
contemplated hereby do not (i) result in a violation of the Company’s certificate of incorporation or by-laws, (ii) conflict
with, or constitute a default under any agreement or instrument to which the Company is a party or (iii) any law statute, rule
or regulation to which the Company is subject or any agreement, order, judgment or decree to which the Company is subject. Other
than any SEC or state securities filings which may be required to be made by the Company subsequent to the Closing, and any registration
statement which may be filed pursuant thereto, the Company is not required under federal, state or local law, rule or regulation
to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental agency or
self-regulatory entity in order for it to perform any of its obligations under this Agreement or issue the Units, Placement Shares,
Placement Rights, Placement Warrants, Right Shares or Warrant Shares in accordance with the terms hereof.

 

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4.     Legends

 

4.1.    Legend.
The Company will issue the Units, Placement Shares, Placement Rights and Placement Warrants, and when issued, the Right Shares
and Warrant Shares, purchased by the Subscriber in the name of the Subscriber. The Securities will bear the following Legend and
appropriate “stop transfer” instructions:

 

“THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”),
OR ANY STATE SECURITIES LAWS AND NEITHER THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR
OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR SUCH LAWS OR AN EXEMPTION
FROM REGISTRATION UNDER THE SECURITIES ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL FOR THIS CORPORATION, IS AVAILABLE.”

 

“THE
SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO LOCKUP PURSUANT TO AN UNIT SUBSCRIPTION AGREEMENT BY AND BETWEEN DRAPER
OAKWOOD TECHNOLOGY ACQUISITION, INC. AND EARLYBIRDCAPITAL, INC. AND MAY ONLY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE
DISPOSED DURING THE TERM OF THE LOCKUP PURSUANT TO THE TERMS SET FORTH IN THE UNIT SUBSCRIPTION AGREEMENT.”

  

4.2.   
Subscriber’s Compliance. Nothing in this Section 4 shall affect in any way Subscriber’s obligations and agreements
to comply with all applicable securities laws upon resale of the Securities.

 

4.3.   
Company’s Refusal to Register Transfer of the Securities.  The Company shall refuse to register any transfer of
the Securities, if in the sole judgment of the Company such purported transfer would not be made (i) pursuant to an effective
registration statement filed under the Securities Act, or pursuant to an available exemption from the registration requirements
of the Securities Act and (ii) in compliance herewith.

 

4.4    
Registration Rights.  The Subscriber will be entitled to certain registration rights which will be governed by a registration
rights agreement (“Registration Rights Agreement”) to be entered into between, among others, the Subscriber
and the Company, on or prior to the effective date of the Registration Statement; provided, however, that the Subscriber may not
exercise its demand and “piggy back” registration rights pursuant to such Registration Rights Agreement after five
(5) and seven (7) years after the effective date of the Registration Statement, respectively, and the Subscriber may not exercise
its demand registration rights thereunder more than one time. 

 

5.    Lockup.

 

The Subscriber acknowledges
and agrees that the Units, the Placement Shares, the Placement Warrants, the Placement Rights, the Warrant Shares and Rights Shares
shall not be transferable, saleable or assignable until 30 days after the consummation of a Business Combination, except to permitted
transferees. The Units, the Placement Shares, the Placement Warrants, the Placement Rights, the Warrant Shares and the Rights Shares
will be deemed compensation by the Financial Industry Regulatory Authority (“FINRA”) and will therefore be subject
to lock-up for a period of 180 days immediately following the date of effectiveness of the Registration Statement or commencement
of sales of the IPO, subject to certain limited exceptions, pursuant to Rule 5110(g)(1) of the FINRA Manual. Accordingly, the Units,
the Placement Shares, the Placement Warrants, the Placement Rights, the Warrant Shares and the Rights Shares may not be sold, transferred,
assigned, pledged or hypothecated for 180 days immediately following the effective date of the Registration Statement except to
any underwriter or selected dealer participating in the IPO and the bona fide officers or partners of the Subscriber and any such
participating underwriter or selected dealer nor may they be the subject of any hedging, short sale, derivative, put or call transaction
that would result in the economic disposition of the securities by any person during such 180-day period.

 

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6.       Waiver
of Liquidation Distributions.

 

In connection with
the Securities purchased pursuant to this Agreement, Subscriber hereby waives any and all right, title, interest or claim of any
kind in or to any distributions of the amounts in the Trust Account with respect to the Securities, whether (i) in connection with
the exercise of redemption rights if the Company consummates the Business Combination, (ii) in connection with any tender offer
conducted by the Company prior to a Business Combination or (iii) upon the Company’s redemption of shares of Common Stock
sold in the Company’s IPO upon the Company’s failure to timely complete the Business Combination.  In the
event a Subscriber purchases shares of Common Stock in the IPO or in the aftermarket, any additional shares so purchased shall
be eligible to receive the redemption value of such shares of Common Stock upon the same terms offered to all other purchasers
of Common Stock in the IPO in the event the Company fails to consummate the Business Combination.

 

7.     Termination
of Placement Rights and Placement Warrants.

 

7.1.   
Failure to Consummate Business Combination. The Placement Rights and Placement Warrants shall be terminated upon the dissolution
of the Company or in the event that the Company does not consummate the Business Combination within 12 months from the consummation
of the IPO (or up to 18 months from the consummation of the IPO if the Company extends the period of time to consummate a Business
Combination, as described in more detail in the Registration Statement), unless otherwise extended by the Company.

 

7.2.   
Termination of Rights as Holder. If the Placement Rights and Placement Warrants are terminated in accordance with Section 7.1,
then after such time a Subscriber (or successor in interest) shall no longer have any rights as a holder of such Placement Rights
or Placement Warrants and the Company shall take such action as is appropriate to cancel such Placement Rights and Placement Warrants.
Subscriber hereby irrevocably grants the Company a limited power of attorney for the purpose of effectuating the foregoing and
agrees to take any and all measures reasonably requested by the Company necessary to effect the foregoing.

 

8.     Rescission
Right Waiver and Indemnification.

 

8.1.   
Subscriber understands and acknowledges an exemption from the registration requirements of the Securities Act requires there be
no general solicitation of purchasers of the Units. In this regard, if the IPO were deemed to be a general solicitation with respect
to the Units, the offer and sale of such Units may not be exempt from registration and, if not, Subscriber may have a right to
rescind its purchase of the Units. In order to facilitate the completion of the Offering and in order to protect the Company, its
stockholders and the amounts in the Trust Account from claims that may adversely affect the Company or the interests of its stockholders,
Subscriber hereby agrees to waive, to the maximum extent permitted by applicable law, any claims, right to sue or rights in law
or arbitration, as the case may be, to seek rescission of its purchase of the Units. Subscriber acknowledges and agrees this waiver
is being made in order to induce the Company to sell the Units to the Subscriber. Subscriber agrees the foregoing waiver of rescission
rights shall apply to any and all known or unknown actions, causes of action, suits, claims or proceedings (collectively, “Claims”)
and related losses, costs, penalties, fees, liabilities and damages, whether compensatory, consequential or exemplary, and expenses
in connection therewith, including reasonable attorneys’ and expert witness fees and disbursements and all other expenses
reasonably incurred in investigating, preparing or defending against any Claims, whether pending or threatened, in connection with
any present or future actual or asserted right to rescind the purchase of the Units hereunder or relating to the purchase of the
Units and the transactions contemplated hereby.

 

8.2.   
Subscriber agrees not to seek recourse against the Trust Account for any reason whatsoever in connection with its purchase of the
Units or any Claim that may arise now or in the future relating to the purchase of the Units.

 

8.3.   
Subscriber acknowledges and agrees that the stockholders of the Company are and shall be third-party beneficiaries of this Section
8. 

 

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8.4.   
Subscriber agrees that to the extent any waiver of rights under this Section 8 is ineffective as a matter of law, Subscriber has
offered such waiver for the benefit of the Company as an equitable right that shall survive any statutory disqualification or bar
that applies to a legal right. Subscriber acknowledges the receipt and sufficiency of consideration received from the Company hereunder
in this regard.

 

9.     Terms
of the Units and Underlying Securities

 

9.1 The Units and their
component parts are substantially identical to the units to be offered in the IPO except that: (i) the Units and component parts
will be subject to transfer restrictions, except in limited circumstances, until 30 days following the consummation of the Business
Combination, (ii) the Placement Warrants will be non-redeemable so long as they are held by the initial holder thereof (or any
of its permitted transferees), and may be exercisable on a “cashless” basis if held by a Subscriber or its permitted
transferees and (iii) the Units and component parts are being purchased pursuant to an exemption from the registration requirements
of the Securities Act and will become freely tradable only after the expiration of the lockup described above in clause (i) and
they are registered pursuant to the Registration Rights Agreement to be signed on or before the date of the Prospectus or an exemption
from registration is available. Additionally, so long as the Placement Warrants are held by the Subscriber or its designees, they
will not be permitted to exercise such Placement Warrants after the five year anniversary of the effective date of the Registration
Statement.

  

10.     Governing
Law; Jurisdiction; Waiver of Jury Trial

 

This Agreement shall
be governed by and construed in accordance with the laws of the State of New York for agreements made and to be wholly performed
within such state. The parties hereto hereby waive any right to a jury trial in connection with any litigation pursuant to this
Agreement and the transactions contemplated hereby.

  

11.   Assignment;
Entire Agreement; Amendment

 

11.1.  Assignment.
Neither this Agreement nor any rights hereunder may be assigned by any party to any other person other than by a Subscriber to
a person agreeing to be bound by the terms hereof, including the waiver contained in Section 8 hereof.

 

11.2.  Entire
Agreement. This Agreement sets forth the entire agreement and understanding between the parties as to the subject matter thereof
and merges and supersedes all prior discussions, agreements and understandings of any and every nature among them.

 

11.3.  Amendment.
Except as expressly provided in this Agreement, neither this Agreement nor any term hereof may be amended, waived, discharged or
terminated other than by a written instrument signed by the party against whom enforcement of any such amendment, waiver, discharge
or termination is sought.

 

11.4.  Binding
upon Successors. This Agreement shall be binding upon and inure to the benefit of the parties hereto and to their respective heirs,
legal representatives, successors and permitted assigns. 

 

12.   Notices

 

11.1   Notices.
Unless otherwise provided herein, any notice or other communication to a party hereunder shall be sufficiently given if in writing
and personally delivered or sent by facsimile or other electronic transmission with copy sent in another manner herein provided
or sent by courier (which for all purposes of this Agreement shall include Federal Express or other recognized overnight courier)
or mailed to said party by certified mail, return receipt requested, at its address provided for herein or such other address as
either may designate for itself in such notice to the other.  Communications shall be deemed to have been received when
delivered personally, on the scheduled arrival date when sent by next day or 2nd-day courier service, or if sent by facsimile upon
receipt of confirmation of transmittal or, if sent by mail, then three days after deposit in the mail. If given by electronic transmission,
such notice shall be deemed to be delivered (a) if by electronic mail, when directed to an electronic mail address at which
the party has consented to receive notice; (b) if by a posting on an electronic network together with separate notice to the
party of such specific posting, upon the later of (1) such posting and (2) the giving of such separate notice; and (c) if
by any other form of electronic transmission, when directed to the party.

 

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13.   Counterparts

 

This Agreement may
be executed in one or more counterparts, all of which when taken together shall be considered one and the same agreement and shall
become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both
parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission or by e-mail
delivery of a “pdf” format data file, such signature shall create a valid and binding obligation of the party executing
(or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature
page were an original thereof.

 

14.   Survival;
Severability

 

14.1.  Survival.
The representations, warranties, covenants and agreements of the parties hereto shall survive each Closing Date.

 

14.2. Severability.
In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable
or void, this Agreement shall continue in full force and effect without said provision; provided that no such severability shall
be effective if it materially changes the economic benefit of this Agreement to any party.

 

15.   Headings.

 

The titles and subtitles
used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.

 

[remainder of page intentionally left blank]

 

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This subscription is accepted by the Company
on the 24th day of August 2017.

 

	 	DRAPER OAKWOOD TECHNOLOGY ACQUISITION, INC.
	 	 	 
	 	By:	/s/ Aamer Sarfraz
	 	 	Name: Aamer Sarfraz
	 	 	Title: Chief Executive Officer

 

Accepted and agreed on the date hereof

 

	 	EARLYBIRDCAPITAL, INC.
	 	 	 
	 	By:	/s/ Steve Levine
	 	 	Name: Steve Levine 
	 	 	Title: Chief Executive Officer

 

 

9Exhibit 10.10

 

SERVICES AGREEMENT

 

The SERVICES AGREEMENT
(the “Services Agreement”) dated as of [______], 2017 (“Effective Date”), by
and between Draper Venture Network, Inc., a Delaware corporation (the "Service Provider"), and Draper
Oakwood Technology Acquisition, Inc. (“DOTA”) (each individually referred to herein as a “Party”
and collectively as the “Parties”).

 

RECITALS

 

A.       DOTA
desires to become a member of the “Draper Venture Network.”

 

B.       In
order to become a member of the Draper Venture Network, DOTA understands that it must pay the Service Provider certain consideration
in exchange for the Service Provider providing certain support services to DOTA pursuant to the terms and conditions of this Agreement.

 

AGREEMENT

 

NOW, THEREFORE, in
consideration of the foregoing and the mutual covenants and obligations contained herein, the parties agree as follows:

 

1.       Services.
In exchange for the consideration described in Section 2 of this Agreement, the Service Provider agrees to provide DOTA with the
services described in Attachment 1 (the “Services”). Notwithstanding the foregoing, subject to
Section 3, the Service Provider shall have the right to add or delete the services to be provided pursuant to Attachment 1 in its
reasonable and good faith discretion, upon the prior written consent of DOTA, which consent will not be unreasonably withheld.
Any additional services rendered by Service Provider to DOTA, but not enumerated on Attachment 1, shall be deemed gratuitous
and not entitle DOTA to receive such services for any period of time or receive other services not enumerated on Attachment 1.

 

2.       Fees.
In consideration of the Services to be provided by the Service Provider to DOTA hereunder, DOTA shall cause to be paid to the Service
Provider the fees set forth on Attachment 2 (the “Fees”) in accordance with the payment provisions
contained therein.

 

3.       Limitation
on Duties. The Parties hereto acknowledge that the Service Provider will provide the Services but shall not manage the
affairs of, act in the name of, or bind DOTA.

 

4.       Term
of Agreement. Commencing following the consummation of the initial public offering of DOTA (the “IPO”),
except as provided under Section 5 of this Agreement, the Services will be performed hereunder until 24 months following the IPO
(or such other date as set forth in DOTA’s certificate of incorporation, as amended from time to time) (the “Termination
Date”). However, if DOTA is dissolved prior to Termination Date, this Agreement shall terminate.

 

5.       Early
Termination. This Agreement may be terminated by DOTA or the Service Provider should the other Party materially breach
any portion of this Agreement and not cure such breach within thirty (30) days (a “Cause Termination”).

 

6.       Nonassignment/Binding
Agreement. Neither this Agreement nor any rights under this Agreement may be assigned or otherwise transferred by either
Party, in whole or in part, whether voluntarily or by operation of law, including by way of sale of assets, merger or consolidation,
without the prior written consent of the other Party, which consent will not be unreasonably withheld. Subject to the foregoing,
this Agreement will be binding upon and will inure to the benefit of the parties and their respective successors and assigns. Any
assignment in violation of the foregoing will be null and void.

 

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7.       Independent
Contractors. The relationship of the parties under this Agreement is that of independent contractors. Neither party will
be deemed to be an employee, agent, partner or legal representative of the other for any purpose and neither will have any right,
power or authority to create any obligation or responsibility on behalf of the other.

 

8.       Notices.
Any notice required or permitted under the terms of this Agreement or required by law must be in writing and must be: (a) delivered
in person; (b) sent by first class registered mail, or air mail, as appropriate; or (c) sent by overnight air courier,
in each case properly posted and fully prepaid to the appropriate address set forth in the preamble to this Agreement. Either party
may change its address for notice by notice to the other party given in accordance with this section. Notices will be considered
to have been given at the time of actual delivery in person, three (3) business days after deposit in the mail as set forth above,
or one (1) day after delivery to an overnight air courier service.

 

9.       Waiver;
Waiver Against Trust. 

 

(a)       Any
waiver of the provisions of this Agreement or of a party’s rights or remedies under this Agreement must be in writing to
be effective. Failure, neglect, or delay by a party to enforce the provisions of this Agreement or its rights or remedies at any
time, will not be construed as a waiver of such party’s rights under this Agreement and will not in any way effect the validity
of the whole or any part of this Agreement or prejudice such party’s right to take subsequent action. No exercise or enforcement
by either party of any right or remedy under this Agreement will preclude the enforcement by such party of any other right or remedy
under this Agreement or that such party is entitled by law to enforce.

 

(b)       The
Service Provider hereby acknowledges that it is aware that DOTA will establish a trust account (the “Trust Account”)
for the benefit of its public stockholders upon the closing of the IPO. The Service Provider, for itself and its affiliates, hereby
agrees that it has no right, title, interest or claim of any kind in or to any monies held in the Trust Account, or any other asset
of DOTA as a result of any liquidation of DOTA. The Service Provider hereby agrees that it shall have no right of set-off or any
right, title, interest or claim of any kind (“Claim”) to, or to any monies in, the Trust Account, and
hereby irrevocably waives any Claim to, or to any monies in, the Trust Account that it may have now or in the future. In the event
the Service Provider has any Claim against DOTA under this Agreement, the Service Provider shall pursue such Claim solely against
DOTA and its assets outside the Trust Account and not against the property or any monies in the Trust Account.

 

10.       Severability.
If any term, condition, or provision in this Agreement is found to be invalid, unlawful or unenforceable to any extent, the parties
shall endeavor in good faith to agree to such amendments that will preserve, as far as possible, the intentions expressed in this
Agreement. If the parties fail to agree on such an amendment, such invalid term, condition or provision will be severed from the
remaining terms, conditions and provisions, which will continue to be valid and enforceable to the fullest extent permitted by
law.

 

11.       Governing
Law. This Agreement will be interpreted and construed in accordance with the laws of the State of California, without regard
to conflict of law principles.

 

12.       Arbitration.
Except as specified herein, all disputes arising out of or in connection with the in accordance with the Commercial Rules of
Arbitration (the “Rules”) of the American Arbitration Association (“AAA”) in effect from time to time.
Any arbitration administered hereunder shall occur in San Mateo, California. Judgment on any award may be entered in any court
having jurisdiction. This clause shall not preclude parties from seeking provisional remedies in aid of arbitration from a court
of appropriate jurisdiction. The arbitrator shall, in the award, allocate all or part of the costs of the arbitration, including
the fees of the arbitrator and the reasonable attorneys’ fees of the prevailing party.

 

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13.       Entire
Agreement. This Agreement (including the Attachments and any addenda hereto signed by both parties) contains the entire
agreement of the parties with respect to the subject matter of this Agreement and supersedes all previous communications, representations,
understandings and agreements, either oral or written, between the parties with respect to said subject matter. This Agreement
may not be amended, except by a writing signed by both parties.

 

14.       Non-Exclusivity.
The services to be rendered by the Service Provider to DOTA under this Agreement shall not be deemed to be exclusive, and the Service
Provider shall be free to render similar services to others.

 

15.       Counterparts.
This Agreement may be executed in counterparts, each of which so executed will be deemed to be an original and such counterparts
together will constitute one and the same agreement. Facsimile and electronic signatures shall be deemed originals for all purposes.

 

16.       Confidentiality.
DOTA agrees to treat the information concerning the Service Provider, the terms of this Agreement, and any information related
to the Services rendered as confidential information and shall not, without the Service Provider’s prior written consent,
disclose such information to any person or entity. Notwithstanding the foregoing, however (i) DOTA may disclose such information
to its principals, accountants, legal counsel or as required by applicable law (but in the case of applicable law, only to the
extent that such requirement cannot be avoided or eliminated via commercially reasonable efforts) and (iii) the foregoing information
shall no longer be deemed confidential information for purposes of this provision if such information is currently or becomes publicly
known or available in the absence of any improper or unlawful action on the part of DOTA or known or available to DOTA other than
through or on behalf of the Service Provider. Notwithstanding the foregoing, the Service Provider hereby acknowledges that (x)
the terms of this Agreement will be disclosed in the registration statement filed with the Securities and Exchange Commission in
connection with the IPO (the “Registration Statement”), (y) this Agreement may be filed with the Securities
and Exchange Commission as an exhibit to the Registration Statement and (iii) DOTA may disclose the terms of this Agreement to
potential IPO investors.

 

[SIGNATURE PAGE FOLLOWS IMMEDIATELY]

 

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IN WITNESS WHEREOF,
the parties have executed this Services Agreement as of the Effective Date set forth above.

 

	DRAPER VENTURE NETWORK, INC.	 	DRAPER OAKWOOD TECHNOLOGY ACQUISITION, INC.
	 	 	 	 	 
	By:		 	By:	 
	 	Gabriel Turner, CEO	 	 	Aamer A. Sarfraz, CEO

 

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ATTACHMENT 1

 

Description of Services

 

Service Provider shall
use commercially reasonable efforts to provide the following types of Services, with such scope and breadth of all such Services
determined by Service Provider in its good faith and reasonable discretion:

 

		●	Deal syndication support

 

		●	Access to private member web portal

 

		●	Business and corporate development introductions and support

 

		●	Production of events that may include the GP Spring Forum, CEO Summit and/or others

 

		●	Service provider introductions and recommendations

 

		●	Newsletters, member conference calls and other communications

 

		●	Research database subscriptions

 

		●	Discounts on select products and services 

 

    

     

    

 

ATTACHMENT 2

 

Fees and Payments

 

MEMBERSHIP FEES

 

Prospective Member:                      Draper
Oakwood Technology Acquisition, Inc. 

 

Membership Fees shall consist of membership interests in Draper
Oakwood Investments, LLC (the “Sponsor”) representing founder shares in DOTA, subject to the terms
and conditions set forth in the Sponsor’s Limited Liability Company Operating Agreement

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