Document:

Exhibit 10.2

 

 

VOTING AND SUPPORT AGREEMENT

 

This Voting and Support Agreement
(this “Agreement”) is made and entered into as of September 28, 2022, by and among Bullseye FinCo, Inc., a Delaware
corporation (the “Buyer”) and the stockholders of BTRS Holdings Inc., a Delaware corporation (the “Company”)
listed on Schedule A hereto (each, a “Stockholder” and, collectively, the “Stockholders”).
Buyer and the Stockholders are referred to individually as a “Party” and collectively as “Parties”.

 

RECITALS

 

WHEREAS, concurrently with
the execution and delivery of this Agreement, Buyer, Bullseye Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of
Buyer (“Merger Sub”) and the Company, are entering into an Agreement and Plan of Merger (as it may be amended, supplemented
or otherwise modified from time to time, the “Merger Agreement”) that, among other things and subject to the terms
and conditions set forth therein, provides for the merger of Merger Sub with and into the Company, with the Company being the surviving
entity in such merger (the “Merger”);

 

WHEREAS, as of the date hereof,
each Stockholder is the record and/or “beneficial owner” (within the meaning of Rule 13d- 3 under the 1934 Act) of the number
of shares of common stock, par value $0.0001 per share, of the Company (the “Company Stock”) set forth next to such
Stockholder’s name on Schedule A hereto, being all of the shares of Company Stock owned of record or beneficially by such
Stockholder as of the date hereof (with respect to such Stockholder, the “Owned Shares”, and the Owned Shares together
with any additional shares of Company Stock and any additional Company Securities that such Stockholder holds or may acquire record and/or
beneficial ownership of after the date hereof, such Stockholder’s “Covered Shares”);

 

WHEREAS, the board of directors
of the Company (the “Company Board”) has unanimously (a) determined that the Merger Agreement and the other Transaction
Documents (as defined in the Merger Agreement) to which the Company is or will be a party and the transactions contemplated thereby, including
the Merger, are fair to and in the best interests of the Company and its stockholders, (b) approved, adopted and declared advisable the
Merger Agreement and the transactions contemplated thereby, including the Merger, in accordance with the requirements of the General Corporation
Law of the State of Delaware (the “DGCL”), (c) resolved, subject to Section 6.03(b) of the Merger Agreement, to recommend
approval and adoption of the Merger Agreement by the stockholders of the Company and (d) directed that the Transaction Documents to which
the Company is or will be a party be submitted to the stockholders of the Company for their adoption; and

 

WHEREAS, as an inducement
and condition for Buyer and Merger Sub to enter into the Merger Agreement, each Stockholder has agreed to enter into this Agreement with
respect to such Stockholder’s Covered Shares.

 

NOW, THEREFORE, in consideration
of the foregoing and the respective representations, warranties, covenants and agreements set forth below and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, do hereby agree
as follows:

 

     

     

    

1.   Definitions.
Capitalized terms used but not otherwise defined herein shall have the respective meanings ascribed to such terms in the Merger Agreement.
When used in this Agreement, the following terms shall have the meanings assigned to them in this Section 1.

 

“Expiration Time”
shall mean the earliest to occur of (a) the Effective Time and (b) such date and time as the Merger Agreement shall be validly terminated
pursuant to Article 10 thereof.

 

“Transfer”
shall mean (a) any direct or indirect offer, sale, assignment, encumbrance, pledge, hypothecation, disposition, loan or other transfer
(by operation of Applicable Law or otherwise), either voluntary or involuntary, or entry into any option, Contract, arrangement, understanding
or commitment with respect to any offer, sale, assignment, encumbrance, pledge, hypothecation, disposition, loan or other transfer (by
operation of Applicable Law or otherwise), of any Covered Shares or any interest in any Covered Shares (in each case other than this Agreement),
(b) the deposit of such Covered Shares into a voting trust, the entry into a voting agreement or arrangement (other than this Agreement)
with respect to such Covered Shares or the grant of any proxy or power of attorney (other than this Agreement) or similar arrangement
with respect to such Covered Shares, (c) entry into any hedge, swap or other transaction or Contract which is designed to (or is reasonably
expected to lead to or result in) a transfer of the economic consequences of ownership of any Covered Shares, whether any such transaction
is to be settled by delivery of Covered Shares, in cash or otherwise or (d) entry into any option, Contract, arrangement, understanding
or commitment (whether or not in writing) to take any of the actions referred to in the foregoing clauses (a), (b) or (c) above; provided,
however, that Transfer shall not include any such action between Stockholders who are a party to this Agreement or to an Affiliate or
family member (or trust or other entity for benefit of family members) of a Stockholder who contemporaneously executes a joinder to this
Agreement.

 

2.   Agreement
to Not Transfer the Covered Shares.

 

2.1   No
Transfer of Covered Shares. Until the Expiration Time, (a) each Stockholder agrees not to Transfer or cause or permit the Transfer
of any of such Stockholder’s Covered Shares, other than with the prior written consent of Buyer (to be granted or withheld by Buyer
for any reason or no reason) and (b) each Stockholder shall not seek or solicit any such Transfer or any such option, Contract, arrangement,
understanding or commitment with respect to any Transfer. Any Transfer or attempted Transfer of any Covered Shares in violation of this
Section 2.1 shall be null and void and of no effect whatsoever.

 

2.2   Update
of Beneficial Ownership Information. Promptly following the written request of Buyer, or upon a Stockholder’s or any of its
Affiliates’ acquisition of beneficial (as defined in Rule 13d-3 under the 1934 Act) or record ownership of additional shares of
Company Stock or other Company Securities after the date hereof, such Stockholder will send to Buyer a written notice setting forth the
number of Covered Shares beneficially owned by such Stockholder or any of its Affiliates and indicating the capacity in which such Covered
Shares are owned. Each Stockholder irrevocably agrees to cause any of its Affiliates that acquires any shares of Company Stock or other
Company Securities on or after the date hereof to execute an agreement in a form reasonably acceptable to Buyer to be bound with respect
to this Agreement with respect to such shares to the same extent such shares would be subject to this Agreement had they been

 

    2

     

    

acquired
by such Stockholder, and such shares or other Company Securities shall be deemed Covered Shares for all purposes hereunder.

 

3.   Agreement
to Vote the Covered Shares.

 

3.1   Until
the Expiration Time, at every meeting of the Company’s stockholders at which any of the following matters are to be voted on (and
at every adjournment, recess or postponement thereof), and on any action or approval of Company’s stockholders by written consent
with respect to any of the following matters, each Stockholder shall vote (including via proxy) all of such Stockholder’s Covered
Shares, in each case to the fullest extent that the Covered Shares are entitled to vote thereon or consent thereto (or cause the holder(s)
of record on any applicable record date to vote (including via proxy) all of such Stockholder’s Covered Shares):

 

(a)   in
favor of (i) the Merger and the approval and adoption of the Merger Agreement, including any amended and restated Merger Agreement or
amendment to the Merger Agreement that increases the Merger Consideration or otherwise is or results in the Merger Agreement being more
favorable to the Stockholders than the Merger Agreement in effect as of the date of this Agreement, (ii) the approval of any proposal
to adjourn or postpone any Stockholders Meeting to a later date if there are not sufficient votes for adoption of the Merger Agreement
on the date on which such meeting is held and (iii) the approval of any other matter considered and voted upon by the stockholders of
the Company at the Company Meeting as contemplated as of the date hereof by Section 8.03 of the Merger Agreement or as advised by the
board of directors of the Company; and

 

(b)   against
(i) any action or agreement that would or would reasonably be expected to result in a breach of any covenant, representation or warranty
or any other obligation or agreement of the Company contained in the Merger Agreement or that would result or would reasonably be expected
to result in any condition set forth in Article 9 of the Merger Agreement not being satisfied on a timely basis, (ii) any Acquisition
Proposal, or any other proposal made in opposition to, in competition with, or inconsistent with, the Merger Agreement, the Merger or
the transactions contemplated by the Merger Agreement and (iii) any other action, agreement or proposal which could reasonably be expected
to delay, postpone or adversely affect the consummation of the Merger or any of the other transactions contemplated by the Merger Agreement.

 

3.2   Until
the Expiration Time, at every meeting of the Company’s stockholders (and at every adjournment or postponement thereof), each Stockholder
shall be represented in person or by proxy at such meeting (or cause the holders of record on any applicable record date to be represented
in person or by proxy at such meeting) in order for the Covered Shares to be counted as present for purposes of establishing a quorum.

 

3.3   Each
Stockholder shall execute and deliver (or cause the holders of record to execute and deliver), within 48 hours of receipt, any proxy card
or voting instructions it receives that is sent to stockholders of the Company soliciting proxies with respect to any matter described
in Section 3.1, which shall be voted in the manner described in Section 3.1 (with Buyer to be promptly notified (and provided
reasonable evidence of) such execution and delivery of such proxy card or voting instructions).

 

    3

     

    

3.4   Notwithstanding
anything to the contrary in this Agreement, if at any time following the date hereof and prior to the Expiration Time any Stockholder
is restricted from taking any action pursuant to Section 3.1, Section 3.2 or Section 3.3 of this Agreement by any
applicable law or any order issued by any Government Authority, then (a) the obligations of each Stockholder set forth in Section 3.1,
Section 3.2 or Section 3.3 of this Agreement shall be of no force and effect for so long as such order is in effect solely
to the extent such order restrains, enjoins or otherwise prohibits such Stockholder from taking any such action, and (b) each Stockholder
shall cause the Covered Shares to not be represented in person or by proxy at any meeting at which a vote of such Stockholder on the Merger
Agreement or the transactions contemplated thereby is sought or requested.

 

4.   Waiver
of Dissenter and Appraisal Rights. Each Stockholder hereby irrevocably and unconditionally waives, and agrees to cause to be waived
and to prevent the exercise of, any rights of appraisal, any dissenter’s rights and any similar rights relating to the Merger or
any related transaction that the Stockholder may have by virtue of, or with respect to, the Covered Shares, including under Section 262
of the DGCL.

 

5.   Acquisition
Proposals.

 

5.1   Until
the Expiration Time, (a) each Stockholder (solely in the capacity as a stockholder of the Company) shall not, and shall direct its Affiliates
and their respective Representatives not to, directly or indirectly, (i) solicit, initiate or knowingly take any action to facilitate
or encourage the submission of any Acquisition Proposal, (ii) enter into or participate in any discussions or negotiations with, furnish
any information relating to the Company or any of its Subsidiaries to, otherwise cooperate in any way with, or assist, participate in,
knowingly facilitate or knowingly encourage any effort by, any Third Party that is seeking to make, or has made, an Acquisition Proposal,
(iii) encourage or recommend any other holder of Company Stock to not adopt the Merger Agreement or approve the transactions contemplated
by the Merger Agreement, including the Merger, or make any public statement approving or recommending an Acquisition Proposal, (iv) enter
into any agreement in principle, letter of intent, term sheet, merger agreement, purchase agreement, acquisition agreement, option agreement,
voting agreement, support agreement or other similar agreement in connection with any Acquisition Proposal or (v) agree to do any of the
foregoing and (b) each Stockholder (solely in the capacity as a stockholder of the Company) shall, and shall direct its Affiliates and
their respective Representatives to, cease immediately and cause to be terminated any and all existing activities, discussions or negotiations,
if any, with any Third Party and its Representatives conducted prior to the date hereof with respect to any Acquisition Proposal.

 

5.2   Until
the Expiration Time, each Stockholder (solely in the capacity as a stockholder of the Company) agrees to notify Buyer promptly (and in
any event within twelve (12) hours) after receipt of any Acquisition Proposal, any inquiry, proposal or offer which constitutes, or could
reasonably be expected to lead to an Acquisition Proposal or any inquiry or request for nonpublic information relating to the Company
and its Subsidiaries by any Person who has made or would reasonably be expected to make an Acquisition Proposal. Such notice shall (A)
indicate the identity of the Person who has made or could reasonably be expected to make an Acquisition Proposal and (B) include a copy
of any relevant written documents or agreements delivered to such Stockholder or its Representatives in connection with such inquiry,
proposal or offer (or, if

 

    4

     

    

not
delivered in writing, a summary of the material terms and conditions of any such proposal or offer or the nature of the information requested
pursuant to such inquiry or request). Thereafter, such Stockholder shall keep Buyer reasonably informed, on a prompt basis (and in any
event within one (1) Business Day), regarding any material changes to the status and material terms of any such inquiry, proposal or
offer (and shall provide Buyer with a copy of any relevant written documents or agreements delivered to the Company or its Representatives
that contain any material amendments thereto or any material change to the scope or material terms or conditions thereof (or, if not
delivered in writing, a summary of any such material amendments or material changes)).

 

5.3   Notwithstanding
the foregoing, if the Company is permitted, pursuant to Section 6.03 of the Merger Agreement, to have discussions or negotiations with
respect to an Acquisition Proposal, each Stockholder and its Representatives shall be permitted to participate in such discussions or
negotiations with the Person or group making such Acquisition Proposal to the same extent as the Company is permitted to do so under Section
6.03 of the Merger Agreement, subject to compliance by such Stockholder with Section 5.2 above.

 

6.   No
Legal Action. Each Stockholder shall not, and shall cause its Representatives not to, bring, commence, institute, maintain, prosecute
or voluntarily aid any claim, appeal, or proceeding in its capacity as a Stockholder which (a) challenges the validity of or seeks to
enjoin the operation of any provision of this Agreement or (b) alleges that the execution and delivery of this Agreement by any of the
Stockholders (or their performance hereunder solely in the capacity as a stockholder of the Company) breaches any fiduciary duty of the
Company Board (or any member thereof) or any duty that any of the Stockholders have (or may be alleged to have) to the Company or to the
other holders of the Company Stock.

 

7.   Fiduciary
Duties. Each Stockholder is entering into this Agreement solely in its capacity as the record holder or beneficial owner of such Stockholder’s
Covered Shares. Nothing in this Agreement shall in any way attempt to limit or affect any actions taken by any of Stockholder’s
or its Affiliates’ designee(s) or beneficial owner(s) serving on the Company Board or any such Stockholder or in his or her capacity
as a director, officer or employee of the Company or any of its Affiliates, from complying with his or her fiduciary obligations while
acting in such designee’s or beneficial owner’s capacity as a director, officer or employee of the Company. No action taken
(or omitted to be taken) in any such capacity as a director, officer or employee shall be deemed to constitute a breach of this Agreement.

 

8.   Notice
of Certain Events. Each Stockholder shall notify Buyer in writing promptly of (a) any fact, event or circumstance that would cause,
or reasonably be expected to cause or constitute, a breach of the representations and warranties of such Stockholder under this Agreement
or (b) the receipt by such Stockholder of any notice or other communication from any Person alleging that the consent of such Person is
or may be required in connection with this Agreement.

 

9.   Representations
and Warranties of the Stockholders. Each Stockholder hereby represents and warrants to Buyer that:

 

9.1   Due
Authority. Each Stockholder has the full power and capacity to make, enter into and carry out the terms of this Agreement. If any
Stockholder is not a natural person, (a)

 

    5

     

    

such
Stockholder is duly organized, validly existing and in good standing in accordance with the laws of its jurisdiction of formation, as
applicable, and (b) the execution and delivery of this Agreement, the performance of such Stockholder’s obligations hereunder,
and the consummation of the transactions contemplated hereby have been validly authorized, and no other consents or authorizations are
required to give effect to this Agreement or the transactions contemplated by this Agreement. This Agreement has been duly and validly
executed and delivered by each Stockholder and constitutes a valid and binding obligation of each Stockholder enforceable against it
in accordance with its terms, except as enforcement may be limited by general principles of equity whether applied in a court of law
or a court of equity and by bankruptcy, insolvency and similar Applicable Laws affecting creditors’ rights and remedies generally.

 

9.2   Ownership
of the Covered Shares. (a) Each Stockholder is, as of the date hereof, the beneficial or record owner of such Stockholder’s
Covered Shares, free and clear of any and all Liens, subscriptions, options, warrants, calls, proxies, commitments, restrictions and Contracts
of any kind other than those created by this Agreement and (b) each Stockholder has sole voting power over all of the Covered Shares beneficially
owned by each Stockholder. Each Stockholder has not entered into any agreement to Transfer any Covered Shares. As of the date hereof,
the Stockholders do not own, beneficially or of record, any shares of Company Stock or other voting shares of the Company (or any securities
convertible, exercisable or exchangeable for, or rights to purchase or acquire, any shares of Company Stock or other voting shares of
the Company) other than the Owned Shares. Any additional Company Securities acquired by the Stockholders after the date hereof and prior
to the Expiration Time will be owned beneficially or of record by the Stockholder, free and clear of any Liens, subscriptions, options,
warrants, calls, proxies, commitments, restrictions and Contracts of any kind other than those created by this Agreement. Each Stockholder
has and will have at all times through the Expiration Time sufficient rights and powers over voting and disposition with respect to the
matters set forth in Section 2 and Section 3, and to agree to all of the matters set forth in this Agreement, in each case
with respect to all of the Covered Shares, with no other limitations, qualifications or restrictions on such rights, in each case, subject
to the terms of this Agreement. All of the Covered Shares are, as of the date hereof, held directly by the Stockholders.

 

9.3   No
Conflict; Consents.

 

(a)   The
execution and delivery of this Agreement by each Stockholder does not, and the performance by each Stockholder of its obligations under
this Agreement and the compliance by each Stockholder with any provisions hereof does not and will not: (i) conflict with or violate any
Applicable Laws applicable to the Stockholders, or (ii) result in any breach of or constitute a default (or an event that with notice
or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation
of, or result in the creation of a Lien on any of the Covered Shares beneficially owned by each Stockholder pursuant to any Contract or
obligation to which each Stockholder is a party or by which each Stockholder is subject.

 

(b)   No
consent, approval, order or authorization of, or registration, declaration or, except as required by the rules and regulations promulgated
under the 1934 Act, filing with, any Governmental Authority or any other Person, is required by or with respect to each

 

    6

     

    

Stockholder
in connection with the execution and delivery of this Agreement or the consummation by them of the transactions contemplated hereby.

 

9.4   Absence
of Litigation. As of the date hereof, there is no legal action pending against, or, to the knowledge of each Stockholder, threatened
against or affecting each Stockholder that would reasonably be expected to materially impair the ability of each Stockholder to perform
its obligations hereunder or to consummate the transactions contemplated hereby on a timely basis.

 

9.5   Finders
Fees. No broker, investment bank, financial advisor or other person is entitled to any broker’s, finder’s, financial adviser’s
or similar fee or commission in connection with the transactions contemplated hereby based upon arrangements made by or on behalf of each
Stockholder.

 

9.6   No
Inconsistent Agreements. Each Stockholder hereby represents, warrants, covenants and agrees that, except for this Agreement, it (a)
has not entered into, and shall not enter into at any time while this Agreement remains in effect, any voting agreement, voting trust
or other similar agreement or arrangement, in each case with respect to the Covered Shares, (b) has not granted, and shall not grant at
any time while this Agreement remains in effect, a proxy, a consent or power of attorney with respect to the Covered Shares and (c) has
not entered into any agreement or knowingly taken any action (and shall not enter into any agreement or knowingly take any action) that
would make any representation or warranty of the Stockholders contained herein untrue or incorrect or have the effect of preventing the
Stockholders from performing any of his obligations under this Agreement.

 

10.   Representations
and Warranties of Buyer. Buyer hereby represents and warrants to the Stockholders that:

 

10.1   Due
Authority. Buyer has the full power and capacity to make, enter into and carry out the terms of this Agreement. Buyer is duly organized,
validly existing and in good standing in accordance with the laws of its jurisdiction of formation. The execution and delivery of this
Agreement, the performance of Buyer’s obligations hereunder, and the consummation of the transactions contemplated hereby has been
validly authorized, and no other consents or authorizations are required to give effect to this Agreement or the transactions contemplated
by this Agreement. This Agreement has been duly and validly executed and delivered by Buyer and constitutes a valid and binding obligation
of Buyer enforceable against it in accordance with its terms, except as enforcement may be limited by general principles of equity whether
applied in a court of law or a court of equity and by bankruptcy, insolvency and similar Applicable Laws affecting creditors’ rights
and remedies generally.

 

10.2   No
Conflict; Consents.

 

(a)   The
execution and delivery of this Agreement by Buyer does not, and the performance by Buyer of its obligations under this Agreement and the
compliance by Buyer with the provisions hereof do not and will not: (i) conflict with or violate any Applicable Laws applicable to Buyer,
or (ii) result in any breach of or constitute a default (or an event that with notice or lapse of time or both would become a material
default) under, or give to others any

 

    7

     

    

rights
of termination, amendment, acceleration or cancellation of, pursuant to any Contract or obligation to which Buyer is a party or by which
Buyer is subject.

 

(b)   No
consent, approval, order or authorization of, or registration, declaration or, except as required by the rules and regulations promulgated
under the 1934 Act, filing with, any Governmental Authority or any other Person, is required by or with respect to Buyer in connection
with the execution and delivery of this Agreement or the consummation by Buyer of the transactions contemplated hereby.

 

10.3   Absence
of Litigation. As of the date hereof, there is no legal action pending against, or, to the knowledge of Buyer, threatened against
or affecting Buyer that would reasonably be expected to materially impair the ability of Buyer to perform its obligations hereunder or
to consummate the transactions contemplated hereby on a timely basis.

 

11.   Miscellaneous.

 

11.1   No
Ownership Interest. Nothing contained in this Agreement shall be deemed to vest in Buyer any direct or indirect ownership or incidence
of ownership of or with respect to the Covered Shares. All rights, ownership and economic benefits of and relating to the Covered Shares
shall remain vested in and belong to the Stockholders, and Buyer shall have no authority to exercise any power or authority to direct
any Stockholder in the voting or disposition of any of the Covered Shares, except as otherwise provided herein.

 

11.2   Certain
Adjustments. In the event of a stock split, stock dividend or distribution, or any change in the Company Stock by reason of any split-up,
reverse stock split, recapitalization, combination, reclassification, exchange of shares or the like, the terms “Company Stock”
and “Covered Shares” shall be deemed to refer to and include such shares as well as all such stock dividends and distributions
and any securities into which or for which any or all of such shares may be changed or exchanged or which are received in such transaction.
Each Stockholder shall, while this Agreement is in effect, notify Buyer promptly in writing of the number of any additional shares of
Company Stock, any additional options, warrants or rights or other awards to purchase shares of Company Stock or other voting capital
stock of the Company and any other securities convertible into or exercisable or exchangeable for shares of Company Stock or other voting
capital stock or securities of the Company acquired (beneficially or of record) by such Person, if any, after the date hereof.

 

11.3   Amendments
and Modifications. This Agreement may not be modified, amended, altered or supplemented except upon the execution and delivery of
a written agreement executed by all of the Parties.

 

11.4   Expenses.
All costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the Party
incurring such cost or expense; provided, however, that in any Action to enforce this Agreement or the rights of Buyer hereunder,
the prevailing party in such Action shall be entitled to receive its reasonable attorney’s fees and all other reasonable costs and
expenses incurred in such Action.

 

11.5   Notices.
All notices and other communications hereunder shall be in writing and shall be deemed given if delivered personally, by email (with confirmation
of receipt) or sent

 

    8

     

    

by
a nationally recognized overnight courier service, such as Federal Express, to the Parties at the following addresses (or at such other
address for a Party as shall be specified by like notice made pursuant to this Section ‎11.5):

 

(i) if to the Stockholders, to the address set forth on Schedule
A. With a copy to (which shall not constitute notice) to:

 

Davis Polk & Wardwell LLP

450 Lexington Avenue

New York, New York 10018

Attention:Evan Rosen

Email:[***]

 

(ii) if to Buyer, to:

 

c/o EQT Partners Inc.

1114 Avenue of the Americas, 45th Floor

New York, NY 10036

Attention: Arvindh Kumar

Email: [***]

 

with a copy (which shall not constitute notice) to:

 

Weil, Gotshal & Manges LLP

767 5th Avenue

 

New York, New York 10153

Attention: Robert A. Rizzo; Raymond O. Gietz

Email: [***]; [***]

 

11.6   Enforcement;
Exclusive Jurisdiction.

 

(a)   The
rights and remedies of the Parties shall be cumulative with and not exclusive of any other remedy conferred hereby. The Parties agree
that irreparable damage would occur and that the Parties would not have any adequate remedy at law in the event that any of the provisions
of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that
the Parties shall be entitled to an injunction or injunctions to prevent breaches or threatened breaches of this Agreement and to enforce
specifically the terms and provisions of this Agreement in the Court of Chancery of the State of Delaware or, if under Applicable Law
exclusive jurisdiction over such matter is vested in the federal courts, any federal court located in the State of Delaware without proof
of actual damages or otherwise (and each Party hereby waives any requirement for the securing or posting of any bond in connection with
such remedy), this being in addition to any other remedy to which they are entitled at law or in equity. The parties further agree not
to assert that a remedy of specific enforcement is unenforceable, invalid, contrary to Applicable Law or inequitable for any reason, nor
to assert that a remedy of monetary damages would provide an adequate remedy for any such breach. The Parties’ rights in this Section
11.6 are an integral part of the transactions contemplated hereby and each Party hereby waives any objections to any remedy referred
to in this Section 11.6.

 

    9

     

    

(b)   In
addition, each of the Parties (i) consents to submit itself, and hereby submits itself, to the personal jurisdiction of the Court of Chancery
of the State of Delaware and any federal court located in the State of Delaware, or, if neither of such courts has subject matter jurisdiction,
any state court of the State of Delaware having subject matter jurisdiction, in the event any dispute arises out of this Agreement or
any of the transactions contemplated by this Agreement, (ii) agrees that it will not attempt to deny or defeat such personal jurisdiction
by motion or other request for leave from any such court, and agrees not to plead or claim any objection to the laying of venue in any
such court or that any judicial proceeding in any such court has been brought in an inconvenient forum, (iii) agrees that it will not
bring any action relating to this Agreement or any of the transactions contemplated by this Agreement in any court other than the Court
of Chancery of the State of Delaware and any federal court located in the State of Delaware, or, if neither of such courts has subject
matter jurisdiction, any state court of the State of Delaware having subject matter jurisdiction and (iv) consents to service of process
being made through the notice procedures set forth in Section 11.5.

 

11.7   Waiver
of Jury Trial. EACH OF THE PARTIES HEREBY KNOWINGLY, INTENTIONALLY AND VOLUNTARILY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED
BY APPLICABLE LAW, ANY AND ALL RIGHTS TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY
OR OTHERWISE, THAT SUCH PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SUIT OR PROCEEDING, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B)
ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVER
AND CERTIFICATIONS IN THIS SECTION 11.7.

 

11.8   Documentation
and Information. Each Stockholder consents to and authorizes the publication and disclosure by Buyer and the Company of such Stockholder’s
identity and holding of the Covered Shares, and the terms of this Agreement (including, for the avoidance of doubt, the disclosure of
this Agreement), in any press release, the Proxy Statement and any other disclosure document required in connection with the Merger Agreement,
the Merger and the transactions contemplated by the Merger Agreement.

 

11.9   Further
Assurances. Each Stockholder agrees, from time to time, at the reasonable request of Buyer and without further consideration, to execute
and deliver such additional documents and take all such further action as may be reasonable required to consummate and make effective,
in the most expeditious manner practicable, the transactions contemplated by this Agreement.

 

11.10   Stop
Transfer Instructions. At all times commencing with the execution and delivery of this Agreement and continuing until the Expiration
Time, in furtherance of this Agreement, each Stockholder hereby authorizes the Company or its counsel to notify the Company’s transfer
agent that there is a stop transfer order with respect to all of the Covered Shares (and that this Agreement places limits on the voting
and transfer of the Covered Shares),

 

    10

     

    

subject
to the provisions hereof and provided that any such stop transfer order and notice will immediately be withdrawn and terminated by the
Company following the Expiration Time.

 

11.11   Entire
Agreement. This Agreement, including Schedule A, (a) constitutes the entire agreement and supersedes all prior agreements and
understandings, both written and oral, among the Parties with respect to the subject matter hereof and (b) is not intended to confer upon
any Person other than the Parties any rights or remedies. For the avoidance of doubt, nothing in this Agreement shall be deemed to amend,
alter or modify, in any respect, any of the provisions of the Merger Agreement.

 

11.12   Reliance.
Each Stockholder understands and acknowledges that Buyer and Merger Sub are entering into the Merger Agreement in reliance upon such Stockholder’s
execution and delivery of this Agreement.

 

11.13   Interpretation.
The words “hereof”, “herein” and “hereunder” and words of like import used in this Agreement shall
refer to this Agreement as a whole and not to any particular provision of this Agreement. The descriptive headings used herein are inserted
for convenience of reference only and are not intended to be part of or to affect the meaning or interpretation of this Agreement. References
to Articles, Sections, Exhibits and Schedules are to Articles, Sections, Exhibits and Schedules of this Agreement unless otherwise specified.
All Exhibits and Schedules annexed hereto or referred to herein are hereby incorporated in and made a part of this Agreement as if set
forth in full herein. Any capitalized terms used in any Exhibit or Schedule but not otherwise defined therein, shall have the meaning
as defined in this Agreement. Any singular term in this Agreement shall be deemed to include the plural, and any plural term the singular.
The definitions contained in this Agreement are applicable to the masculine as well as to the feminine and neuter genders of such term.
Whenever the words “include”, “includes” or “including” are used in this Agreement, they shall be
deemed to be followed by the words “without limitation”, whether or not they are in fact followed by those words or words
of like import. Unless the context otherwise requires, “neither,” “nor,” “any,” “either”
and “or” are not exclusive. The word “extent” in the phrase “to the extent” means the degree to which
a subject or other thing extends, and does not simply mean “if.” “Writing”, “written” and comparable
terms refer to printing, typing and other means of reproducing words (including electronic media) in a visible form. References to any
statute shall be deemed to refer to such statute and to any rules or regulations promulgated thereunder. References to any Contract or
Applicable Law are to that Contract or Applicable Law, as applicable, as amended, modified or supplemented (including by waiver or consent)
from time to time in accordance with the terms hereof and thereof. References to “the transactions contemplated by this Agreement”
or words with a similar import shall be deemed to include the Merger. References to any Person include the successors and permitted assigns
of that Person. References from or through any date mean, unless otherwise specified, from and including such date or through and including
such date, respectively. References to any period of days will be deemed to be to the relevant number of calendar days unless otherwise
specified and if the last day of such period is not a Business Day, the period shall end on the next succeeding Business Day. The Parties
agree that they have been represented by counsel during the negotiation, drafting, preparation and execution of this Agreement and, therefore,
in the event an ambiguity or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the
Parties, and no presumption or burden of proof will arise favoring or disfavoring any Party by virtue of the authorship of any of the
provisions of this Agreement.

 

    11

     

    

11.14   Assignment.
Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by any of the Parties in whole or in
part (whether by operation of Applicable Law or otherwise) without the prior written consent of the other Parties, and any such assignment
without such consent shall be null and void; provided that Buyer may transfer or assign its rights and obligations under this Agreement,
in whole or from time to time in part, to one or more of its Affiliates at any time; provided, further, that any assignment
by Buyer shall not relieve Buyer of its obligations hereunder. This Agreement shall be binding upon, inure to the benefit of and be enforceable
by the Parties and their respective successors and permitted assigns.

 

11.15   Severability.
If any term or other provision of this Agreement is held by a court of competent jurisdiction or other authority to be invalid, void,
unenforceable or against its regulatory policy, the remainder of the terms and provisions of this Agreement shall remain in full force
and effect and shall in no way be affected, impaired or invalidated, so long as the economic and legal substance of the transactions contemplated
hereby, taken as a whole, is not affected in a manner materially adverse to any Party. Upon such a determination, the Parties shall negotiate
in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable manner
in order that the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible.

 

11.16   Counterparts.
This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement, it being understood
that each Party need not sign the same counterpart. This Agreement shall become effective when each Party shall have received a counterpart
hereof signed by all of the other Parties. Signatures delivered electronically or by facsimile shall be deemed to be original signatures.

 

11.17   Governing
Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF DELAWARE, WITHOUT GIVING EFFECT
TO CONFLICTS OF LAWS PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF THE LAW OF ANY OTHER STATE.

 

11.18   Non-Survival
of Representations and Warranties. None of the representations and warranties in this Agreement or in any schedule, instrument or
other document delivered pursuant to this Agreement shall survive the termination of this Agreement; provided, however,
that notwithstanding the foregoing, the Parties hereto acknowledge and agree that Buyer shall be entitled to exercise all rights and remedies
with respect to any breach prior to and including the termination of the representations, warranties, covenants and agreements made by
the Stockholders, which breach (and all of the available remedies with respect thereto) shall expressly survive the termination of this
Agreement. This Section 11.18 shall not limit any covenant or agreement contained in this Agreement that by its terms is to be
performed in whole or in part after the termination of this Agreement.

 

11.19   Termination.
This Agreement shall terminate automatically without further action by any of the Parties and shall have no further force or effect as
of the earliest to occur of (a) the Expiration Time and (b) with respect to any Stockholder, the election of such Stockholder in its sole
discretion to terminate this Agreement promptly following any amendment of any term or provision of the original unamended Merger Agreement
dated as of the date hereof that reduces

 

    12

     

    

or
changes the form of consideration payable pursuant to such Merger Agreement; provided, however, that the provisions of
this Section 11 shall survive any such termination. Notwithstanding the foregoing, termination of this Agreement shall not prevent
Buyer from seeking any remedies (at law or in equity) against any other Party for that Party’s breach of any of the terms of this
Agreement prior to the date of termination.

 

11.20   Waiver
of Rights. No failure on the part of Buyer to exercise any power, right, privilege or remedy under this Agreement, and no delay on
the part of Buyer in exercising any power, right, privilege or remedy under this Agreement, shall operate as a waiver of such power, right,
privilege or remedy; and no single or partial exercise of any such power, right, privilege or remedy shall preclude any other or further
exercise thereof or of any other power, right, privilege or remedy. Buyer shall not be deemed to have waived any claim available to Buyer
arising out of this Agreement, or any power, right, privilege or remedy of Buyer under this Agreement, unless the waiver of such claim,
power, right, privilege or remedy is expressly set forth in a written instrument duly executed and delivered on behalf of Buyer; and any
such waiver shall not be applicable or have any effect except in the specific instance in which it is given.

 

[Signature page follows]

 

    13

     

    

IN WITNESS WHEREOF, the Parties
have caused this Agreement to be duly executed and delivered on the date and year first above written.

 

	 	Bullseye FinCo, Inc.
	 	 
	 	By:	/s/ Adam Larsson
	 	 	Name:	Adam Larsson
	 	 	Title:	President

 

	 	 
	 	 
	 	By:	/s/ Christiaan Snyders
	 	 	Name:	Christiaan Snyders
	 	 	Title:	Vice President & Treasurer

 

[Signature Page to Voting Agreement]

 

     

     

    

IN WITNESS WHEREOF, the Parties
have caused this Agreement to be duly executed and delivered on the date and year first above written.

 

	 	Flint A. Lane
	 	 

 

	 	FL 2009 GRAT FBO APL
	 	 
	 	By:	/s/ Kathryn E. Lane
	 	 	Name:	Kathryn E. Lane
	 	 	Title:	Trustee

 

	 	FL 2009 GRAT FBO KML
	 	 
	 	By:	/s/ Kathryn E. Lane
	 	 	Name:	Kathryn E. Lane
	 	 	Title:	Trustee

 

	 	FL 2009 GRAT FBO TKL
	 	 
	 	By:	/s/ Kathryn E. Lane
	 	 	Name:	Kathryn E. Lane
	 	 	Title:	Trustee

 

[Signature Page to Voting Agreement]

 

     

     

    

SCHEDULE A

 

	
    Name

    	
    Owned Shares

    	
    Address

    (including email)

    
	 	 	 
	Flint A. Lane	17,897,386	
    520 Yucca Rd, Naples, FL 34102 

    Attention: Flint A. Lane

    

    Email: [***]

    

	 	 	 
	FL 2009 GRAT FBO APL	2,613,155.33	
    520 Yucca Rd, Naples, FL 34102

    

    Attention: Flint A. Lane

    

    Email:  [***]

    

	 	 	 
	FL 2009 GRAT FBO KML	2,613,155.33	
    520 Yucca Rd, Naples, FL 34102

    

    Attention: Flint A. Lane

    

    Email:  [***]

    

	 	 	 
	FL 2009 GRAT FBO TKL	2,613,155.33	
    520 Yucca Rd, Naples, FL 34102

    

    Attention: Flint A. Lane

    

    Email:  [***]Exhibit 10.3 

 

ROLLOVER AND
CONTRIBUTION AGREEMENT

 

This
ROLLOVER AND CONTRIBUTION AGREEMENT (this “Agreement”), is made and entered into as of September 28, 2022, by and
between (i) Bullseye Holdings, LP, a Delaware limited partnership, (“Parent”) and (ii) the undersigned (each, a “Rollover
Holder” and collectively, the “Rollover Holders”). Each of the parties hereto are referred to herein as
a “Party” and collectively, the “Parties”. Capitalized terms used but not defined herein shall
have the meanings ascribed to such terms in the Merger Agreement (as defined below).

 

RECITALS

 

WHEREAS,
concurrently with the execution and delivery of this Agreement, (i) Bullseye FinCo, Inc., a Delaware corporation (“Buyer”),
(ii) Bullseye Merger Sub, Inc., a Delaware corporation (“Merger Sub”) and (iii) BTRS Holdings, Inc., a Delaware corporation
(the “Company”), have entered into that certain Agreement and Plan of Merger (as it may be amended, modified or restated
from time to time, the “Merger Agreement”), pursuant to which, among other things, at the closing of the transactions
contemplated by the Merger Agreement (the “Closing”), Merger Sub shall merge with and into the Company, whereupon,
the separate existence of Merger Sub will cease to exist and the Company will be the surviving corporation as a wholly-owned subsidiary
of Buyer, upon the terms and subject to the conditions set forth therein;

 

WHEREAS,
as of the date hereof, the Rollover Holders are the record and beneficial owners of 25,736,852 shares of Class 1 Common Stock of the
Company in the aggregate;

 

WHEREAS,
subject to the terms and conditions set forth in this Agreement, immediately prior to the Closing, each Rollover Holder shall contribute,
transfer and assign to Parent all of his or its right, title and interest in the number of shares of Class 1 Common Stock of the Company
listed opposite such Rollover Holder’s name on Schedule I hereto (collectively, the “Contributed Shares”)
having the value equal to the amount set forth on Schedule I hereto (such contribution, transfer and assignment, the “Contribution”),
free and clear of all Liens (other than Liens under applicable securities laws and the Company’s organizational documents), in
exchange for a number of partnership interests in Parent (such interests in Parent to be issued to the Rollover Holders, the “Rollover
Interests”) having an aggregate value that is equal to the value of the Contributed Shares, at a price per Rollover Interest
equal to the same price per partnership interest of Parent to be acquired by Bullseye Holdings S.à r.l. at the Closing;

 

WHEREAS,
concurrently with the Contribution, Parent shall accept the Contributed Shares from the Rollover Holders and, in exchange therefor and
subject to the terms and conditions hereof, issue the Rollover Interests to the Rollover Holders (the “Exchange”);

 

WHEREAS,
it is intended that (i) the Contribution qualify as a transaction under Section 721 of the Internal Revenue Code of 1986, as amended
(the “Code”) and any comparable provision of state or local income tax law, and (ii) the further contribution of the
Contributed Shares from Parent to Bullseye TopCo, Inc. qualify as a transaction under Section 351 of the Code and any comparable provision
of state or local income tax law, and (iii) the further contribution of the Contributed Shares from Bullseye Topco, Inc. to Bullseye
Intermediate Holdings LLC be disregarded for U.S. federal (and applicable state and local) income tax purposes (collectively, the “Intended
Tax Treatment”); and

 

WHEREAS,
at the closing of the Contribution and the Exchange (the “Contribution Closing”), each Rollover Holder shall execute
and deliver to Parent a signature page or joinder to the Amended and Restated Agreement of Limited Partnership (as amended, restated,
supplemented or otherwise modified from time to time, the “Partnership Agreement”) of Parent, by and among Parent
and

 

     

     

    

the
other parties thereto, containing substantially the terms and conditions set forth on Exhibit A hereto, which shall become effective
upon the effectiveness of the amendment to such agreement to be entered into at or immediately prior to the Closing, relating to Parent
and the Rollover Interests to be received by such Rollover Holder pursuant to this Agreement.

 

NOW,
THEREFORE, in consideration of the premises, and of the representations, warranties, covenants and agreements contained herein, the parties
hereto agree as follows:

 

Article
I

Contribution and Exchange

 

1.1  
Contribution and Exchange. On the terms and subject to the conditions set forth herein (including the deliveries contemplated
by Article IV hereof) and subject to Section 1.3, immediately prior to the Closing, (i) each Rollover Holder shall contribute,
assign, transfer, convey and deliver to Parent the Contributed Shares set forth opposite such Rollover Holder’s name on Schedule
I hereto, free and clear of any and all Liens (other than Liens under applicable securities laws or the organizational documents
of the Company), (ii) Parent shall issue to such Rollover Holder its applicable portion of the Rollover Interests (in exchange for the
contribution, assignment, transfer, conveyance and delivery by such Rollover Holder to Parent of the Contributed Shares set forth opposite
such Rollover Holder’s name on Schedule I hereto), free and clear of any and all Liens, except as may exist by reason of
this Agreement, applicable securities laws and the Partnership Agreement or any Liens created by such Rollover Holder, (iii) Parent shall
further contribute, assign, transfer, convey and deliver to Bullseye TopCo, Inc. the Contributed Shares, free and clear of any and all
Liens (other than Liens under applicable securities laws), in exchange for a separate, newly issued block of stock in Bullseye TopCo,
Inc. and (iv) Bullseye TopCo, Inc. shall further contribute, assign, transfer, convey and deliver to Bullseye Intermediate Holdings LLC,
the Contributed Shares, free and clear of any and all Liens (other than Liens under applicable securities laws).

 

1.2  
Contribution Closing. The Contribution Closing shall occur immediately prior to the Closing. The Contribution Closing shall
take place virtually, at the offices of Weil, Gotshal & Manges LLP, 767 Fifth Avenue, New York, New York 10153, or at such other
place determined by the parties.

 

1.3  
Failure to Consummate the Closing. In the event that after the Contribution and the Exchange, the Closing fails to occur
for any reason whatsoever and the Merger Agreement is terminated, the parties hereto agree that concurrently with the termination of
the Merger Agreement, automatically and without any action of the parties hereto, Parent shall assign, transfer, convey and deliver to
the Rollover Holders the Contributed Shares and the Rollover Holders shall assign, transfer, convey and deliver to Parent the Rollover
Interests issued to the Rollover Holders, and in any such case, neither Parent nor the Rollover Holders shall have any further obligations
under this Agreement. In such event, each party shall provide all such cooperation as the other parties hereto may reasonably request
in order to ensure that the foregoing has been made effective.

 

Article
II

Representations and Warranties

 

2.1  
Representations and Warranties of Parent. Parent hereby makes the following representations and warranties to the Rollover
Holders, each and all of which shall be true and correct as of the date of this Agreement and the Contribution Closing:

 

    2 

     

    

(a)  
Parent has full limited partnership power and authority to execute and deliver this Agreement. Parent has duly executed and delivered
this Agreement. This Agreement is a valid and binding obligation of Parent enforceable in accordance with its terms, except as enforcement
thereof may be limited by bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium or other similar laws relating to
or affecting enforcement of creditors’ rights generally and except as enforcement thereof is subject to general principles of equity
(regardless of whether enforcement is considered in a proceeding in equity or at law).

 

(b)  
This Agreement and the consummation of the transactions contemplated hereby have been duly and validly authorized by all required
limited partnership action on the part of Parent and no other limited partnership proceedings on the part of Parent are necessary to
authorize this Agreement and the consummation of the transactions contemplated hereby.

 

(c)  
Except for waivers or consents that have been obtained or are in full force and effect, the execution and delivery of this Agreement
by Parent and the issuance of the Rollover Interests contemplated herein will not conflict with, or result in any violation of, or default
(with or without notice or lapse of time, or both) under (i) the certificate of limited partnership, the Partnership Agreement or other
organizational documents of Parent, (ii) any law, order or agreement applicable to Parent or by which any property or asset of Parent
is bound or affected or (iii) any agreement, lease or other instrument or obligation to which Parent is a party or by which any of Parent’s
assets is bound.

 

(d)  
Immediately following the Contribution Closing, the capitalization of the Partnership shall be as set forth in the Partnership
Agreement and the schedules, exhibits and unit ledger attached thereto, and all of the Partnership's outstanding equity securities, including
the Rollover Interests to be issued to the Rollover Holders hereunder, will be duly authorized and validly issued, fully paid and non-assessable,
and free and clear of all Liens, preemptive or similar rights (other than those arising under the agreements entered into at the Contribution
Closing by the Rollover Holders, including the Partnership Agreement, and those created under applicable securities laws). The rights,
privileges and preferences of all of the Partnership’s equity securities are as stated in the Partnership Agreement. There are
no outstanding interests convertible into or exchangeable or exercisable for, directly or indirectly, any equity interests of the Partnership.
Other than the Partnership Agreement, as of the Contribution Closing there will be no agreements or understandings to which the Partnership
is a party or obligated with respect to the voting of the Partnership’s equity securities.

 

(e)  
There are no lawsuits, claims, proceedings, investigations, injunctions, judgments, orders or decrees pending or, to Parent’s
knowledge, threatened against or affecting Parent or the Partnership that would adversely affect the consummation of the transactions
contemplated by this Agreement.

 

2.2  
Representations and Warranties of the Rollover Holders. To induce Parent to issue the Rollover Interests as herein provided,
each Rollover Holder makes the following representations and warranties to Parent, each and all of which shall be true and correct as
of the date of this Agreement and the Contribution Closing:

 

(a)  
To the extent that such Rollover Holder is an organization, such Rollover Holder is duly formed, validly existing and in good
standing under the laws of the jurisdiction of its formation. Such Rollover Holder has all requisite power and capacity to execute and
deliver this Agreement and the Partnership Agreement (or a joinder thereto). Such Rollover Holder has duly executed and delivered this
Agreement, and shall execute and deliver the Partnership Agreement

 

    3 

     

    

at
the Contribution Closing. This Agreement is, and once executed by such Rollover Holder the Partnership Agreement shall be, valid and
binding obligations of such Rollover Holder enforceable in accordance with their respective terms, except as enforcement thereof may
be limited by bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium or other similar laws relating to or affecting
enforcement of creditors’ rights generally and except as enforcement thereof is subject to general principles of equity (regardless
of whether enforcement is considered in a proceeding in equity or at law).

 

(b)  
Neither the execution and delivery of this Agreement or any other agreement or instrument in connection herewith by such Rollover
Holder, nor the acquisition of the Rollover Interests hereunder, will (i) violate, conflict with or result in a default (or give rise
to any right of termination, cancellation or acceleration) under any agreement, lease or other instrument or obligation to which such
Rollover Holder is a party or by which any of such Rollover Holder’s assets is bound, except for such defaults (or rights of termination,
cancellation or acceleration) as to which requisite waivers or consents have been obtained and are in full force and effect, or (ii)
violate any law, order, writ, injunction or decree applicable to such Rollover Holder.

 

(c)  
Immediately prior to the Contribution Closing such Rollover Holder will be the record and beneficial owner of the Contributed
Shares set forth opposite such Rollover Holder’s name on Schedule I hereto free and clear of all Liens (other than restrictions
on transfer under applicable securities laws). No other Person has any right to acquire the Contributed Shares. Upon transfer of such
Contributed Shares to Parent at the time of the Contribution Closing, Parent shall acquire good and valid title to such Contributed Shares,
free and clear of any and all Liens, other than any such Liens created by Parent, under applicable securities laws or under the Partnership
Agreement.

 

(d)  
Such Rollover Holder has not incurred or become liable for any broker’s commission or finder’s fee relating to the
transactions contemplated by this Agreement.

 

(e)  
Such Rollover Holder is acquiring the Rollover Interests for such Rollover Holder’s account, for investment and not with
a view to the sale or distribution thereof, nor with any present intention of distributing or selling the same. Such Rollover Holder
acknowledges that (i) the Rollover Interests have not been registered under the U.S. Securities Act of 1933 (as amended, the “Securities
Act”) or any securities or “blue sky” laws of any state, and, consequently, the materials relating to the offer
have not been subject to review and comment by the staff of the Securities and Exchange Commission or any other governmental authority,
(ii) there is not now and there may never be any public market for the Rollover Interests and (iii) Rule 144 promulgated under the Securities
Act is not presently available with respect to the sale of any Rollover Interests. None of the Rollover Interests may be offered, sold,
transferred, pledged, hypothecated or otherwise assigned unless such the Rollover Interests are registered under the Securities Act or
an exemption from such registration is available, in each case in accordance with any applicable securities or “blue sky”
laws of any state, and then only in accordance with the terms of the Partnership Agreement.

 

(f)  
Such Rollover Holder has had an opportunity to ask such questions as he or it has deemed necessary of, and to receive answers
from, representatives of Parent concerning the terms and conditions of the offering of the Rollover Interests and the merits and risks
of investing in the Rollover Interests and has had full access to such other information concerning Parent, its Subsidiaries and the
Rollover Interests as such Rollover Holder has requested. Such Rollover Holder’s knowledge and experience in financial and business
matters is such that it is capable of evaluating the merits and risk of the investment in the Rollover Interests. In furtherance of the

 

    4 

     

    

foregoing,
such Rollover Holder represents and warrants that (i) no representation or warranty, express or implied, whether written or oral, as
to the financial condition, results of operations, prospects, properties or business of Parent or any of its Affiliates or as to the
desirability or value of an investment in Parent has been made to such Rollover Holder by or on behalf of Parent or any of its Affiliates
and (ii) such Rollover Holder has relied upon his or its own independent appraisal and investigation, and the advice of such Rollover
Holder’s own counsel, tax advisors and other advisors, regarding the risks of an investment in Parent.

 

(g)  
Such Rollover Holder’s financial situation is such that such Rollover Holder can afford to bear the economic risk of holding
the Rollover Interests for an indefinite period and such Rollover Holder can afford to suffer the complete loss of such Rollover Holder’s
investment in the Rollover Interests.

 

(h)  
Such Rollover Holder is not subscribing for the Rollover Interests as a result of or subsequent to any advertisement, article,
notice or other communication published in any newspapers, magazine or similar media or broadcast over television or radio, or presented
at any seminar or meeting, or any solicitation of a subscription by a person or entity not previously known to such Rollover Holder in
connection with investments in securities generally.

 

(i)  
Such Rollover Holder hereby represents and warrants as to such Rollover Holder’s status by completing the Accredited Investor
Questionnaire attached hereto as Exhibit B.

 

(j)  
Such Rollover Holder’s principal place of residence is in the country or state so designated below his or its name on the
signature page hereto.

 

(k)  
Such Rollover Holder understands that federal regulations and executive orders administered by the United States Department of
the Treasury’s Office of Foreign Assets Control (“OFAC”) prohibit, among other things, the engagement in transactions
with, and the provision of services to, certain foreign countries, territories, entities and individuals. Such Rollover Holder represents
and warrants that he or it is not a person named on an OFAC list, nor is such Rollover Holder a person with whom dealings are prohibited
under any OFAC regulation.

 

Article
III

Further Acknowledgements and Agreements of the Rollover Holders

 

3.1  
Further Acknowledgements and Agreements of the Rollover Holders.

 

(a)  
The Rollover Holders hereby acknowledge and agree that, in exchange for the contribution of the Contributed Shares, they are only
entitled to receive the Rollover Interests, subject to the terms and conditions described herein. The issuance of the Rollover Interests
to the Rollover Holders will completely discharge any obligations of Parent and its Affiliates with respect to the Contributed Shares,
other than obligations under the Merger Agreement and the Partnership Agreement.

 

(b)  
The Rollover Holders hereby acknowledge and agree that the Rollover Interests are subject to restrictions on transfer and resale
and may not be transferred or resold except (i) as provided in the Partnership Agreement and (ii) as permitted under the Securities Act
and applicable state securities laws, pursuant to registration or exemption therefrom.

 

(c)  
The Rollover Holders hereby acknowledge and agree that either:

 

    5 

     

    

(i)  
(A) the Rollover Interests are being sold in a transaction not involving any public offering in the United States within the meaning
of the Securities Act and in connection with and as a part of the compensation and incentive arrangements between an Affiliate of Parent
and the Rollover Holders, (B) the execution and delivery of this Agreement and the grant of the Rollover Interests hereunder are intended
to qualify as an exempt offering under Rule 701 of the Securities Act, Regulation D under the Securities Act or other applicable exemption
from registration and the Rollover Interests will therefore not be registered under the Securities Act, and (C) Parent is under no obligation
to file any registration statement with the United States Securities and Exchange Commission in order to permit transfers of the Rollover
Interests; or 

 

(ii)  
(A) the Rollover Interests are being sold or granted in a transaction not involving any public offering in the United States within
the meaning of the Securities Act, (B) each Rollover Holder is an “accredited investor” within the meaning of Rule 501(a)
under Regulation D of the Securities Act, and has such knowledge and experience in financial and business matters as to be capable of
evaluating the merits and risks of their respective investments in the Rollover Interests, (C) each Rollover Holder is capable of bearing
the economic risks of such investment and is able to bear the complete loss of his or its investment in the Rollover Interests, (D) as
a result, the Rollover Interests will not be registered under the Securities Act, and (E) Parent is under no obligation to file any registration
statement with the United States Securities and Exchange Commission in order to permit transfers of the Rollover Interests.

 

(d)  
The Rollover Holders hereby acknowledge and agree that the Rollover Interests acquired hereunder shall be subject to the terms
of Partnership Agreement and, as a result thereof, the Rollover Interests will be subject to certain transfer restrictions and repurchase
rights set forth in the Partnership Agreement in favor of Parent. The parties hereto acknowledge and agree that, during the time period
between the date on which this Agreement is executed and delivered by the parties hereto (which is occurring concurrently with the execution
and delivery of the Merger Agreement by the parties thereto) and the Closing under the Merger Agreement, the Partnership Agreement setting
forth the terms and conditions of the Rollover Interests, will be drafted and finalized by the parties. If for any reason, the parties
have not entered into the Partnership Agreement concurrently with the Closing, then the parties shall operate Parent in accordance with
the terms set forth in Exhibit A until the parties have executed and delivered the Partnership Agreement.

 

Article
IV

Deliveries at the Contribution Closing

 

4.1  
Deliveries by Parent at the Contribution Closing. At the Contribution Closing, Parent shall:

 

(a)  
issue the Rollover Interests to the Rollover Holders; and

 

(b)  
deliver to the Rollover Holders the Partnership Agreement, duly executed by Parent.

 

4.2  
Deliveries by the Rollover Holders at the Contribution Closing. At or prior to the Contribution Closing, each Rollover
Holder shall deliver to Parent:

 

(a)  
a duly executed counterpart signature page or joinder to the Partnership Agreement;

 

(b)  
a completed Accredited Investor Questionnaire attached hereto as Exhibit B; and

 

    6 

     

    

(c)  
to the extent such Rollover Holder is a natural person and resides in a community property state, a duly executed and completed
copy of the spousal consent, substantially in the form attached hereto as Exhibit C.

 

Article
V

Miscellaneous

 

5.1  
Notices. All notices, requests and other communications to any party hereunder shall be in writing (including electronic
mail (“email”) transmission, so long as a receipt of such email is requested and received) and shall be given,

 

If to Parent, to:

 

Bullseye
Holdings, LP

c/o EQT
Partners Inc. 

1114 Avenue
of the Americas, 45th Floor

New York,
NY 10036 

Attention:

Arvindh
Kumar 

Tyler
Parker

Email:

[***]

[***]

 

with a
copy (which shall not constitute notice) to:

 

Weil, Gotshal &
Manges LLP

767 Fifth Avenue 

New York, New York
10153

Attention: 

Robert A. Rizzo

Raymond
Gietz

E-mail:

[***]

[***]

 

if to the Rollover Holders,
to:

 

Flint Lane

Email: 

[***]

 

with
a copy (which shall not constitute notice) to:

 

Morgan,
Lewis & Bockius LLP

502
Carnegie Center 

Princeton,
NJ 08540-6289

Attention:
Steven M. Cohen 

Email:
[***]

 

or
to such other address or email address as such party may hereafter specify for the purpose by notice to the other parties hereto. All
such notices, requests and other communications shall be deemed received on the date of receipt by the recipient thereof if received
prior to 5:00 p.m. on a business day in the place of

 

    7 

     

    

receipt.
Otherwise, any such notice, request or communication shall be deemed to have been received on the next succeeding business day in the
place of receipt.

 

5.2  
Successors and Assigns. This Agreement will be binding upon and inure to the benefit of the parties hereto and their respective
successors and permitted assigns; provided, however, that no party hereto may assign his or its rights or delegate his
or its obligations, in whole or in part, under this Agreement without the prior written consent of the other parties hereto, except that
Parent may, without the consent of any other party hereto, (i) transfer or assign this Agreement, or its respective rights and obligations
under this Agreement, in whole or from time to time in part, to one or more of its Affiliates at any time, (ii) transfer or assign its
respective rights hereunder for collateral security purposes to any lender providing financing to Parent or Merger Sub, and (iii) after
the Effective Time, to any Person; provided that such transfer or assignment shall not relieve Parent of its obligations hereunder.
Any purported assignment or delegation in violation of this Agreement shall be null and void ab initio.

 

5.3  
Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction
or other Governmental Authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions
of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated so long as the economic
or legal substance of the Transactions, taken as a whole, is not affected in any manner materially adverse to any party. Upon such a
determination, the parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties
as closely as possible in an acceptable manner in order that the Transactions be consummated as originally contemplated to the fullest
extent possible.

 

5.4  
Remedies. The parties agree that irreparable damage would occur and that the parties would not have any adequate remedy
at law in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise
breached. It is accordingly agreed that the parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement
and to enforce specifically the terms, provisions and covenants contained herein in any court set forth in Section 5.10, this
being in addition to any other remedy to which they are entitled at law or in equity. Each party agrees that it will not oppose the granting
of an injunction, specific performance and other equitable relief on the basis that (a) the other party (or parties) has (or have) an
adequate remedy at law or (b) an award of specific performance is not an appropriate remedy for any reason at law or equity.

 

5.5  
Non-Recourse. Notwithstanding anything that may be expressed or implied in this Agreement, any other Transaction Document
or any document, certificate or instrument delivered in connection herewith or otherwise, each party hereto acknowledges and agrees,
on behalf of itself and its respective Related Persons, that all Actions that may be based upon, in respect of, arise under, out of,
by reason of, be connected with, or relate in any manner to (a) this Agreement or any Transaction Document or the Transactions, (b) the
negotiation, execution or performance of this Agreement or any other Transaction Document (including any representation or warranty made
in, in connection with, or as an inducement to, any of the foregoing documents), (c) any breach or violation of this Agreement or any
other Transaction Document and (d) the failure of the Transactions to be consummated, in each case may be made only against (and are
those solely of) the Persons that are expressly identified as parties hereto or thereto, as applicable (other than claims by Parent against
the insurers under any buy side representations and warranty insurance policy obtained by Parent or any of its Affiliates). In furtherance
and not in limitation of the foregoing, each party hereto acknowledges and agrees, on behalf of itself and its respective Related Persons,
that no recourse under this Agreement or any other Transaction Document or in connection with any Transactions shall be sought or had
against any such other Person and no such other Person shall have any Liabilities (whether in contract or in tort, in law or in equity
or otherwise, or granted by statute or otherwise, whether by or through attempted piercing of the corporate, partnership, limited partnership
or limited liability company veil or any other theory or doctrine) of any nature whatsoever arising under, out

 

    8 

     

    

of,
in connection with or related in any manner to the items in the preceding clauses (a) through (d), it being expressly agreed and acknowledged
that no personal liability or Liabilities whatsoever shall attach to, be imposed on or otherwise be incurred by any direct or indirect,
past, present or future shareholder, equity holder, controlling person, member, partner (limited or general), manager, director, officer,
employee, lender, financing source (including, in the case of Parent, Merger Sub, Sponsor and their respective Affiliates, the Debt Financing
Sources), Affiliate, agent or other Representative of any party hereto or any Affiliate of any party hereto, through Parent, Merger Sub,
the Company, its Subsidiaries or otherwise, whether by or through attempted piercing of the corporate, partnership, limited partnership
or limited liability company veil, by or through a claim by or on behalf of any party hereto, as applicable, by the enforcement of any
assessment or by any legal or equitable actions, suits, claims, investigations or proceedings, by virtue of any law, or otherwise, except
for (i) claims against any Person that is party to, and solely pursuant to the terms and conditions of, the applicable Transaction Document(s),
(ii) claims of fraud, (iii) claims against any Person that is party to, and solely pursuant to the terms and conditions of the, the Confidentiality
Agreement, and (iv) claims Parent or Merger Sub may, in their sole discretion, assert against the Debt Financing Sources pursuant to
the terms and conditions of the Debt Commitment Letter.

 

5.6  
Survival of Representations and Warranties. All representations and warranties contained in this Agreement shall survive
the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby regardless of any investigation
made by, or on behalf of, any Party.

 

5.7  
Amendment and Waiver. This Agreement may not be modified or amended except by an instrument or instruments in writing signed
by each party hereto. Any party hereto may, only by an instrument in writing, waive compliance by any other party or parties hereto with
any term or provision hereof on the part of such other party or parties hereto to be performed or complied with. No failure or delay
of any party in exercising any right or remedy hereunder shall operate as a waiver thereof, nor will any single or partial exercise of
any right or power, or any abandonment or discontinuance of steps to enforce such right or power, preclude any other or further exercise
thereof or the exercise of any other right or power. The waiver by any party hereto of a breach of any term or provision hereof shall
not be construed as a waiver of any subsequent breach. The rights and remedies of the parties hereunder are cumulative and are not exclusive
of any rights or remedies that they would otherwise have hereunder.

 

5.8  
Entire Agreement; No Third Party Beneficiary. This Agreement and the other Transaction Documents constitute the entire
agreement between the parties with respect to the subject matter of this Agreement and supersedes all prior agreements and understandings,
both oral and written, between the parties with respect to the subject matter of this Agreement. This Agreement is not intended to confer
upon any Person not a party hereto.

 

5.9  
Exhibits and Schedules. The Schedules and Exhibits hereto are hereby incorporated into this Agreement and are hereby made
a part hereof as if set out in full in this Agreement.

 

5.10  
Governing Law.

 

(a)  
This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to the
conflicts of law rules or other rules that would result in the application of the laws of a different jurisdiction. Any and all claims,
controversies, causes of action, or other Actions arising out or relating to this Agreement, whether sounding in contract, tort, or statute,
shall be governed by the laws of the State of Delaware, without giving effect to any conflicts of law rules or other rules that would
result in the application of the laws of a different jurisdiction.

 

(b)  
The parties hereto agree that any Action seeking to enforce any provision of, relating to, or in connection with, this Agreement
or the Transactions shall be brought exclusively in the

 

    9 

     

    

Delaware
Chancery Court or, if such court shall not have or declines jurisdiction, any federal court or other Delaware state courts, in each case,
located in New Castle County in the State of Delaware (collectively, the “Chosen Courts”), and each of the parties
hereby irrevocably consents and submits to the exclusive jurisdiction of such Chosen Courts (and of the appropriate appellate courts
therefrom) in any such Action and irrevocably waives, to the fullest extent permitted by law, any objection that it may now or hereafter
have to the laying of the venue of any such Action in any such Chosen Court or that any such Action brought in any such Chosen Court
has been brought in an inconvenient forum. Process in any such Action may be served on any party anywhere in the world, whether within
or without the jurisdiction of any such court. Without limiting the foregoing, each party agrees that service of process on such party
as provided in Section 5.1 shall be deemed effective service of process on such party.

 

(c)  
To the extent that any party hereto has or hereafter may acquire any immunity from jurisdiction of any court or from any legal
process (whether through service or notice, attachment prior to judgment, attachment in aid of execution, execution or otherwise) with
respect to himself, herself or itself, or to such Person’s property, each such party hereto hereby irrevocably waives such immunity
in respect of such Person’s obligations with respect to this Agreement.

 

(d)  
Waiver of Jury Trial. EACH OF THE PARTIES HERETO ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS
AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE, EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY
WAIVES ANY AND ALL RIGHT SUCH PARTY MAY HAVE TO TRIAL BY JURY IN ANY LEGAL PROCEEDING OR OTHER ACTION ARISING OUT OF, RELATED TO, OR
IN CONNECTION WITH THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS, OR THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY. EACH PARTY CERTIFIES
AND ACKNOWLEDGES THAT (a) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HERETO HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT
SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (b) SUCH PARTY HERETO UNDERSTANDS AND HAS
CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (c) SUCH PARTY HERETO MAKES THIS WAIVER VOLUNTARILY, AND (d) SUCH PARTY HERETO HAS BEEN INDUCED
TO ENTER INTO THIS AGREEMENT AND EACH TRANSACTION DOCUMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION
5.10(d).

 

5.11  
Interpretation; Absence of Presumption

 

(a)  
For the purposes hereof: (i) words in the singular shall be held to include the plural and vice versa and words of one gender
shall be held to include the other gender as the context requires; (ii) the terms “hereof”, “herein”, and
“herewith” and words of similar import shall, unless otherwise stated, be construed to refer to this Agreement as a whole
(including all of the Schedules and Exhibits) and not to any particular provision of this Agreement, and Article, Section, paragraph,
Exhibit and Schedule references are to the Articles, Sections, paragraphs, Exhibits, and Schedules to this Agreement unless otherwise
specified; (iii) the word “including” and words of similar import when used in this Agreement shall mean “including,
without limitation”, unless the context otherwise requires or unless otherwise specified; and (iv) the word “or”
shall not be exclusive. Further, prior drafts of this Agreement or the fact that any clauses have been added, deleted or otherwise modified
from any prior drafts of this Agreement shall not be used as an aid of construction or otherwise constitute evidence of the intent of
the parties hereto, and no presumption or burden of proof shall arise favoring or disfavoring any party hereto by virtue of such prior
drafts.

 

    10 

     

    

(b)  
With regard to each and every term and condition of this Agreement, the parties hereto understand and agree that the same have
or has been mutually negotiated, prepared and drafted, and if at any time the parties hereto desire or are required to interpret or construe
any such term or condition, no consideration will be given to the issue of which party hereto actually prepared, drafted or requested
any term or condition of this Agreement.

 

5.12  
Intended Tax Treatment. No Party shall, and Parent shall not permit Bullseye TopCo, Inc. or any of its controlled Affiliates
to, take a position for U.S. federal (or applicable state and local) income tax purposes that is inconsistent with the Intended Tax Treatment,
unless required by applicable law, and each Party shall prepare and file all tax returns in a manner consistent with the Intended Tax
Treatment.

 

5.13  
Counterparts; Effectiveness. This Agreement may be signed in any number of counterparts, each of which shall be an original,
with the same effect as if the signatures thereto and hereto were upon the same instrument, it being understood and agreed that the parties
need not sign the same counterpart. Any such counterpart, to the extent delivered by fax or .pdf, .tif, .gif, .jpg or similar attachment
to electronic mail (any such delivery, an “Electronic Delivery”), will be treated in all manner and respects as an
original executed counterpart and will be considered to have the same binding legal effect as if it were the original signed version
thereof delivered in person. This Agreement shall become effective when each party hereto shall have received a counterpart hereof signed
(including by electronic signature) by all of the other parties hereto. Until and unless each party has received a counterpart hereof
signed (including by electronic signature) by the other party hereto, this Agreement shall have no effect and no party shall have any
right or obligation hereunder (whether by virtue of any other oral or written agreement or other communication). No party may raise the
use of an Electronic Delivery to deliver a signature, or the fact that any signature or agreement or instrument was transmitted or communicated
through the use of an Electronic Delivery, as a defense to the formation of a contract, and each party forever waives any such defense,
except to the extent such defense relates to lack of authenticity.

 

5.14  
Further Action. The Parties hereto shall execute and deliver all documents, provide all information, and take or refrain
from taking such actions as may be necessary or appropriate to achieve the purposes of this Agreement.

 

5.15  
Termination. This Agreement shall terminate automatically and shall be of no further force and effect in the event the
Merger Agreement is validly terminated in accordance with its terms; provided that the parties hereto shall give effect to the
provisions of Section 1.3.

 

[The remainder
of this page has been intentionally left blank.]

 

    11 

     

    

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

 

	 	BULLSEYE HOLDINGS, LP
	 	 	 	 
	 	By: Bullseye Holdings GP, LLC
	 	Its:  general partner
	 	 
	 	 
	 	 	 	 
	 	By:	 /s/ Adam Larsson
	 	 	Name:	Adam Larsson
	 	 	Title:   	President
	 	 	 	 
	 	 	 	 
	 	By:	 /s/ Christiaan Snyders
	 	 	Name:	Christiaan Snyders
	 	 	Title:   	Vice President & Treasurer

 

    [SIGNATURE PAGE TO ROLLOVER AGREEMENT]

     

    

	 	ROLLOVER HOLDERS:
	 	 
	 	Flint A. Lane
	 	 	 
	 	/s/ Flint A. Lane
	 	 	 
	 	 	 
	 	FL 2009 GRAT FBO TKL
	 	 
	 	 	             
	 	By:	 /s/ Kathryn E. Lane
	 	Name: Kathryn E. Lane
	 	Title: Trustee
	 	 
	 	 	     
	 	FL 2009 GRAT FBO KML
	 	 
	 	 	 
	 	By:	 /s/ Kathryn E. Lane
	 	Name: Kathryn E. Lane
	 	Title: Trustee
	 	 
	 	 	 
	 	FL 2009 GRAT FBO APL
	 	 
	 	 	 
	 	By:	 /s/ Kathryn E. Lane
	 	Name: Kathryn E. Lane
	 	Title: Trustee

 

    [SIGNATURE PAGE TO ROLLOVER AGREEMENT]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00349-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00349-of-00352.parquet"}]]