Document:

Exhibit 10.3

 

Director
NOMINATION Agreement

 

THIS Director
NOMINATION Agreement (this “Agreement”) is made and entered into as of October 16, 2020, by and among
Paya Holdings Inc., a Delaware corporation (the “Company”), GTCR-Ultra Holdings, LLC, a Delaware limited liability
company (“Paya Holdings”) and GTCR Fund XI/B LP, a Delaware limited partnership and GTCR Fund XI/C LP, a Delaware
limited partnership (collectively, “GTCR”). This Agreement shall become effective (the “Effective Date”)
upon the consummation of the transactions (the “Closing”) contemplated by that certain agreement and plan of merger
agreement (the “Merger Agreement”), dated as of August 3, 2020, by and among the Company, GTCR Fund XI/C LP, Paya Holdings,
GTCR-Ultra Holdings II, LLC, FinTech Acquisition Corp. III, FinTech III Merger Sub Corp. and GTCR/Ultra Blocker, Inc.

 

WHEREAS, following the
Closing, GTCR, indirectly through Paya Holdings, will own a significant portion of the Company’s issued and outstanding common
stock, par value $0.001 per share (the “Common Stock”);

 

WHEREAS, in consideration
of GTCR and its affiliates participation in the transactions contemplated by the Merger Agreement, the Company has agreed to permit
GTCR to designate persons for nomination for election to the board of directors of the Company (the “Board”)
following the Effective Date on the terms and conditions set forth herein;

 

NOW, THEREFORE, in consideration
of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, each of the parties to this Agreement agrees as follows:

 

		1.	Board Nomination Rights.

 

(a) From
the Effective Date, GTCR shall have the right, but not the obligation, to nominate to the Board a number of designees equal to
the product of (x) the Total Number of Directors multiplied by (y) the GTCR Ownership Percentage (the “Nominees”),
rounded up to the nearest whole number (e.g., 11⁄4 Directors shall equate to 2 Directors); provided, that GTCR shall
not have the right to nominate any directors at any time the GTCR Ownership Percentage is less than 5%; provided, further, that
in the event that the GTCR Ownership Percentage is less than 50% and rounding to the nearest whole number would result in GTCR
having the right to nominate over 50% of the Total Number of Directors, GTCR shall instead have the right, but not the obligation,
to nominate to the Board a number of Nominees equal to the product of (x) the Total Number of Directors multiplied by (y) the GTCR
Ownership Percentage, rounded down to the nearest whole number. For purposes of calculating the number of directors that
GTCR is entitled to designate pursuant to the immediately preceding sentence, any such calculations shall be made after taking
into account any increase in the Total Number of Directors. In the event the Board is classified, the total number of Nominees
GTCR shall be entitled to nominate in connection with any election of directors shall equal the total number of Nominees GTCR is
then entitled to nominate pursuant to this Section 1(a) minus the number of Nominees whose terms do not expire at
such meeting.

 

     

     

    

 

(b) In
the event that GTCR has nominated less than the total number of designees GTCR shall be entitled to nominate pursuant to Section
1(a), GTCR shall have the right, at any time, to nominate such additional designees to which it is entitled, in which case,
the Company and the Directors shall take all necessary corporation action, to the fullest extent permitted by applicable law (including
with respect to fiduciary duties under Delaware law), to (x) enable GTCR to nominate and effect the election or appointment
of such additional individuals, whether by increasing the size of the Board, or otherwise and (y) to designate such additional
individuals nominated by GTCR to fill such newly created vacancies or to fill any other existing vacancies.

 

(c) The
Company shall pay all reasonable out-of-pocket expenses incurred by each of the Nominees in connection with the performance of
his or her duties as a director and in connection with his or her attendance at any meeting of the Board in accordance with the
Company’s policies and procedures.

 

(d) Certain
Defined Terms.

 

“Affiliate”
of any person shall mean any other person controlled by, controlling or under common control with such person; where “control”
(including, with its correlative meanings, “controlling,” “controlled by” and “under
common control with”) means possession, directly or indirectly, of power to direct or cause the direction of management
or policies (whether through ownership of securities, by contract or otherwise).

 

“Beneficially Own”
shall mean that a specified person has or shares the right, directly or indirectly, through any contract, arrangement, understanding,
relationship or otherwise, to vote shares of capital stock of the Company.

 

“Director”
means any member of the Board.

 

“GTCR Ownership Percentage”
means, as of any date of determination, the total number of shares of Common Stock Beneficially Owned by GTCR and its Affiliates
divided by the total number of shares of Common Stock Outstanding; for the avoidance of doubt, any shares required to be voted
for the Nominees pursuant to the Sponsor Support Agreement, dated as of August 3, 2020, by and among the Company, FinTech Acquisition
Corp. III, GTCR-Ultra Holdings II, LLC, Paya Holdings and the stockholders party thereto shall be deemed to be beneficially owned
by GTCR for so long as such agreement shall remain in effect.

 

“Total Number of Directors”
means the total number of Directors comprising the Board.

 

(e) No
reduction in the number of shares of Common Stock that GTCR Beneficially Owns shall shorten the term of any incumbent director.
At the Effective Date, the Board shall be comprised of nine members and the initial Nominees shall be Jeffrey Hack, Aaron Cohen,
KJ McConnell, Collin Roche, Anna May Trala, Stuart Yarbrough, Jim Bonetti, Mike Gordon and Christine Larsen.

 

(f) In
the event that any Nominee shall cease to serve for any reason, GTCR shall be entitled to designate such person’s successor
in accordance with this Agreement (regardless of GTCR’s beneficial ownership in the Company at the time of such vacancy)
and the Board shall promptly fill the vacancy with such successor nominee; it being understood that any such designee shall serve
the remainder of the term of the director whom such designee replaces.

 

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(g) If
a Nominee is not appointed or elected to the Board because of such person’s death, disability, disqualification, withdrawal
as a nominee or for other reason is unavailable or unable to serve on the Board, GTCR shall be entitled to designate promptly another
nominee and the director position for which the original Nominee was nominated shall not be filled pending such designation.

 

(h) So
long as GTCR has the right to nominate Nominees under Section 1(a) or any such Nominee is serving on the Board, the Company
shall use its reasonable best efforts to maintain in effect at all times directors and officers indemnity insurance coverage reasonably
satisfactory to GTCR, and the Company’s Amended and Restated Certificate of Incorporation and Amended and Restated Bylaws
(each as may be further amended, supplemented or waived in accordance with its terms, the “Organizational Documents”)
shall at all times provide for indemnification, exculpation and advancement of expenses to the fullest extent permitted under applicable
law.

 

(i) If
the size of the Board is expanded, GTCR shall be entitled to nominate a number of Nominees to fill the newly created vacancies
such that the total number of Nominees serving on the Board following such expansion will be equal to that number of Nominees that
GTCR would be entitled to nominate in accordance with Section 1(a) if such expansion occurred immediately prior to any meeting
of the stockholders of the Company called with respect to the election of members of the Board, and the Board shall appoint such
Nominees to the Board.

 

(j) If
at any time the Company is not a “controlled company” and is required by applicable law or the NASDAQ Stock Exchange
(the “Exchange”) listing standards to have a majority of the Board comprised of “independent directors”
(subject in each case to any applicable phase-in periods), GTCR’s Nominees shall include a number of persons that qualify
as “independent directors” under applicable law and the Exchange listing standards such that, together with any other
“independent directors” then serving on the Board that are not Nominees, the Board is comprised of a majority of “independent
directors.”

 

(k) At
any time that GTCR shall have any nomination rights under this Section 1, the Company shall not take any action, including
making or recommending any amendment to the Organizational Documents that could reasonably be expected to adversely affect GTCR’s
rights under this Agreement, in each case without the prior written consent of GTCR.

 

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2. Company
Obligations. The Company agrees to use its reasonable best efforts to ensure that prior to the date that GTCR and its Affiliates
cease to Beneficially Own shares of Common Stock representing at least 5% of the total voting power of the then outstanding Common
Stock, (i) each Nominee to a particular class of directors is included in the Board’s slate of nominees to the stockholders
(the “Board’s Slate”) for each election of directors of such class; and (ii) each Nominee to a particular
class of directors is included in the proxy statement prepared by management of the Company in connection with soliciting proxies
for every meeting of the stockholders of the Company called with respect to the election of members of the Board of such class
(each, a “Director Election Proxy Statement”), and at every adjournment or postponement thereof, and on every
action or approval by written consent of the stockholders of the Company or the Board with respect to the election of members of
the Board. GTCR will promptly report to the Company after GTCR ceases to Beneficially Own shares of Common Stock representing at
least 5% of the total voting power of the then outstanding Common Stock, such that the Company is informed of when this obligation
terminates. The calculation of the number of Nominees that GTCR is entitled to nominate to the Board’s Slate for any election
of directors shall be based on the GTCR Ownership Percentage immediately prior to the mailing to stockholders of the Director Election
Proxy Statement relating to such election (or, if earlier, the filing of the definitive Director Election Proxy Statement with
the U.S. Securities and Exchange Commission). Unless GTCR notifies the Company otherwise prior to the mailing to stockholders of
the Director Election Proxy Statement relating to an election of directors, the Nominees for such election shall be presumed to
be the same Nominees currently serving on the Board, and no further action shall be required of GTCR for the Board to include such
Nominees on the Board’s Slate; provided, that, in the event GTCR is no longer entitled to nominate the full number of Nominees
then serving on the Board, GTCR shall provide advance written notice to the Company, of which currently serving Nominee(s) shall
be excluded from the Board Slate, and of any other changes to the list of Nominees. Furthermore, the Company agrees that at any
time the Company qualifies as a “controlled company” under the rules of the Exchange the Company will elect to be a
“controlled company” for purposes of the Exchange and will disclose in its annual meeting proxy statement that it is
a “controlled company” and the basis for that determination.

 

3. Committees.
From and after the Effective Date hereof until such time as GTCR and its Affiliates cease to Beneficially Own shares of Common
Stock representing at least 5% of the total voting power of the then outstanding Common Stock, GTCR shall have the right to designate
a number of members of each committee of the Board equal to the nearest whole number greater than the product obtained by multiplying
the GTCR Ownership Percentage by the number of positions, including any vacancies, on the applicable committee, provided that any
such designee shall be a director and shall be eligible to serve on the applicable committee under applicable law or listing standards
of the Exchange, including any applicable independence requirements (subject in each case to any applicable exceptions, including
those for “controlled companies,” and any applicable phase-in periods). Any additional members shall be determined
by the Board. Nominees designated to serve on a Board committee shall have the right to remain on such committee until the next
election of directors, regardless of the level of the GTCR Ownership Percentage following such designation. Unless GTCR notifies
the Company otherwise prior to the time the Board takes action to change the composition of a Board committee, and to the extent
GTCR has the requisite GTCR Ownership Percentage for GTCR to nominate a Board committee member at the time the Board takes action
to change the composition of any such Board committee, any Nominee currently designated by GTCR to serve on a committee shall be
presumed to be re-designated for such committee.

 

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4. Amendment
and Waiver. Any provision of this Agreement may be amended or waived if, but only if, such amendment or waiver is in writing
and is signed, in the case of an amendment, by the Company and GTCR, or in the case of a waiver, by the party against whom the
waiver is to be effective. No failure or delay by any party in exercising any right, power or privilege hereunder shall operate
as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise
of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights
or remedies provided by law. GTCR shall not be obligated to nominate all (or any) of the Nominees it is entitled to nominate pursuant
to this Agreement for any election of directors but the failure to do so shall not constitute a waiver of its rights hereunder
with respect to future elections; provided, however, that in the event GTCR fails to nominate all (or any) of the
Nominees it is entitled to nominate pursuant to this Agreement prior to the mailing to stockholders of the Director Election Proxy
Statement relating to such election (or, if earlier, the filing of the definitive Director Election Proxy Statement with the U.S.
Securities and Exchange Commission), the Nominating and Governance Committee of the Board shall be entitled to nominate individuals
in lieu of such Nominees for inclusion in the Board’s Slate and the applicable Director Election Proxy Statement with respect
to the election for which such failure occurred and GTCR shall be deemed to have waived its rights hereunder with respect to such
election. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by law.

 

5. 
Benefit of Parties. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their
respective permitted successors and assigns. Notwithstanding the foregoing, the Company may not assign any of its rights or obligations
hereunder without the prior written consent of GTCR. Except as otherwise expressly provided in Section 6, nothing herein
contained shall confer or is intended to confer on any third party or entity that is not a party to this Agreement any rights under
this Agreement.

 

6. Assignment.
Upon written notice to the Company, GTCR may assign to any Affiliate of GTCR (other than a portfolio company) all of its rights
hereunder and, following such assignment, such assignee shall be deemed to be “GTCR” for all purposes hereunder.

 

7. Headings.
Headings are for ease of reference only and shall not form a part of this Agreement.

 

8. Governing
Law. This Agreement shall be construed in accordance with and governed by the law of the State of Delaware without giving effect
to the principles of conflicts of laws thereof.

 

9. Jurisdiction.
Any suit, action or proceeding seeking to enforce any provision of, or based on any matter arising out of or in connection with,
this Agreement may be brought against any of the parties in any federal court located in the State of Delaware or any Delaware
state court, and each of the parties hereby consents to the exclusive jurisdiction of such court (and of the appropriate appellate
courts) in any such suit, action or proceeding and waives any objection to venue laid therein. Process in any such suit, action
or proceeding 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 of the parties agrees that service of process upon such party at the address referred to in Section
16, together with written notice of such service to such party, shall be deemed effective service of process upon such party.

 

10. WAIVER
OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING
ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT.

 

11. Entire
Agreement. This Agreement constitutes the entire agreement among the parties with respect to the subject matter hereof and
supersedes all prior agreements, understandings and negotiations, both written and oral among the parties with respect to the subject
matter hereof.

 

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12. Counterparts;
Effectiveness. This Agreement may be signed in any number of counterparts, each of which shall be deemed an original. This
Agreement shall become effective when each party shall have received a counterpart hereof signed by each of the other parties.
An executed copy or counterpart hereof delivered by facsimile or email shall be deemed an original instrument.

 

13. Severability.
If any provision of this Agreement or the application thereof to any person or circumstance shall be invalid or unenforceable to
any extent, the remainder of this Agreement and the application of such provisions to other persons or circumstances shall not
be affected thereby and shall be enforced to the greatest extent permitted by law.

 

14. Further
Assurances. Each of the parties hereto shall execute and deliver such further instruments and do such further acts and things
as may be required to carry out the intent and purpose of this Agreement.

 

15. Specific
Performance. Each of the parties hereto agree that irreparable damage would occur if any provision of this Agreement were not
performed in accordance with the terms hereof and that the parties shall be entitled to an injunction or injunctions to prevent
breaches of this Agreement or to enforce specifically the performance of the terms and provisions hereof in any federal or state
court located in the State of Delaware, in addition to any other remedy to which they are entitled at law or in equity.

 

16. Notices.
All notices, requests and other communications to any party or to the Company shall be in writing (including facsimile or similar
writing) and shall be given,

 

If to the Company:

 

Paya Holdings Inc.

12120 Sunset Hills Road

Reston VA 20190

 

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

 

Kirkland & Ellis
LLP

300 N. LaSalle

Chicago, IL 60654

Attention: Mark A. Fennell,
P.C., Christian O. Nagler and Christopher M. Thomas, P.C.

 

Facsimile: (312) 862-2200

  

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If to any member
of GTCR or any Nominee:

 

GTCR-Ultra Holdings,
LLC

c/o GTCR Management
XI LLC

300 North LaSalle Street,
Suite 5600

Chicago, Illinois 60654

Attention: Collin E.
Roche and Aaron D. Cohen

Email: croche@gtcr.com
and aaron.cohen@gtcr.com

 

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

 

Kirkland & Ellis
LLP

300 N. LaSalle

Chicago, IL 60654

Attention: Mark A. Fennell,
P.C., Christian O. Nagler and Christopher M. Thomas, P.C.

 

Facsimile: (312) 862-2200

 

or to such other address or facsimile number
as such party or the Company may hereafter specify for the purpose by notice to the other parties and the Company. Each such notice,
request or other communication shall be effective when delivered at the address specified in this Section 16 during regular
business hours.

 

*       *       *       *       *

 

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

  

	 	PAYA HOLDINGS INC.
	 	 	 
	 	By:	/s/ Jeffrey Hack 
	 	Name:	Jeffrey Hack
	 	Title:	Chief Executive Officer
	 	 	 
	 	GTCR-ULTRA HOLDINGS, LLC
	 	 	 
	 	By: 	/s/ Jeffrey Hack
	 	Name: 	Jeffrey Hack
	 	Title: 	Chief Executive Officer
	 	 	 
	 	GTCR FUND XI/B LP
	 	 	 
	 	By:	GTCR Partners XI/B LP
	 	Its:	General Partner
	 	 	 
	 	By:	GTCR Investment XI LLC
	 	Its:	General Partner
	 	 	 
	 	By: 	/s/ Aaron Cohen
	 	Name: 	Aaron Cohen
	 	Title: 	Authorized Signatory

 

     

     

    

  

	 	GTCR FUND XI/C LP
	 	 	 
	 	By:	GTCR Partners XI/A&C LP
	 	Its:	General Partner
	 	 	 
	 	By:	GTCR Investment XI LLC
	 	Its:	General Partner
	 	 	 
	 	By: 	/s/ Aaron Cohen
	 	Name: 	Aaron Cohen
	 	Title: 	Authorized SignatoryExhibit 10.4

 

EXECUTION VERSION

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TAX RECEIVABLE AGREEMENT

by and among

FINTECH ACQUISITION CORP. Ill PARENT
CORP.,

GTCR-ULTRA HOLDINGS, LLC

and

CERTAIN OTHER PERSONS NAMED HEREIN,

DATED AS OF OCTOBER 16, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

TAX RECEIVABLE AGREEMENT

 

This TAX RECEIVABLE
AGREEMENT (this “Agreement”), dated as of October 16, 2020, is hereby entered into by and among FinTech Acquisition
Corp. Ill Parent Corp., a Delaware corporation (the “Parent Corporation”), GTCR-Ultra Holdings, LLC, a Delaware
limited liability company (“Seller”), GTCR Ultra-Holdings II, LLC, a Delaware limited liability company (the
“Company”), GTCR/Ultra Blocker, Inc., a Delaware corporation (“Blocker”) and GTCR Fund XI/C
LP, a Delaware limited partnership (“Blocker Seller”).

 

RECITALS

 

The Parent Corporation,
Seller, the Company, Blocker, Blocker Seller, FinTech III Merger Sub Corp., a Delaware corporation (“Merger Sub”)
and FinTech Acquisition Corp. Ill, a Delaware corporation (“Acquiror”) entered into the Agreement and Plan of
Merger, dated August 3, 2020 (the “Merger Agreement”).

 

Pursuant to the Merger
Agreement, Merger Sub will merge with and into Acquiror with Acquiror surviving and shareholders of Acquiror will receive shares
of the Parent Corporation in exchange for their shares of Acquiror (the “Merger”).

 

Pursuant to the Merger
Agreement, immediately following the Merger, (i) Blocker Seller will contribute to the Parent Corporation all right, title and
interest in and to a number of shares of Blocker stock in exchange for shares of the Parent Corporation and the right to receive
a portion of the Earnout Shares, (ii) Seller will contribute to the Parent Corporation all right, title and interest in and to
a portion of its Company units in exchange for shares of Parent Corporation and the right to receive a portion of the Earnout Shares
(together with the contribution described in clause (i), the “Contributions”), (iii) Blocker Seller will transfer
to the Parent Corporation any remaining Blocker shares held by Blocker Seller after giving effect to the Contributions in exchange
for cash and (iv) Seller will transfer to the Parent Corporation any remaining Company units held by Seller after giving effect
to the Contributions in exchange for cash (collectively, clauses (iii) and (iv) together with the Contributions and the Merger,
the “Transactions”).

 

Immediately following
the consummation of the Transactions, the Parent Corporation will contribute to Acquiror all right, title and interest in and to
(i) the Company units held by the Parent Corporation after giving effect to the Transactions and (ii) the Blocker shares held by
the Parent Corporation after giving effect to the Transactions (the “Parent Contributions”).

 

Immediately following
the Parent Contributions, Acquiror will contribute all of its right, title and interest in and to the Company units to Blocker.
Immediately following such contributions, the Parent Corporation will be the sole shareholder of Acquiror, Acquiror will be the
sole shareholder of Blocker and Blocker will be the sole member of the Company.

 

For U.S. federal income
tax purposes, the Contributions taken together with the Merger shall be treated as an integrated transaction described in Section
351(a) of the Code and the receipt of cash or other property by Blocker Seller and Seller pursuant to the Merger Agreement or this
Agreement shall be treated as receipt of taxable “boot” under Section 351(b).

 

Immediately after the
Parent Contributions, Blocker Seller will contribute to Seller all right, title and interest in and to (i) the shares of the Parent
Corporation held by Blocker Seller and (ii) the right to receive Blocker Seller’s share of the Earnout Shares.

 

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The Company will have
in effect for the taxable year that includes the Transactions an election under Section 754 of the Internal Revenue Code of 1986,
as amended (the “Code”).

 

The Parties hereto
are entering into this Agreement to set forth the agreements regarding the sharing of certain Tax benefits realized by the Parent
Corporation Group (as hereinafter defined).

 

NOW, THEREFORE, in
consideration of the foregoing and the respective covenants and agreements set forth herein, and intending to be legally bound
hereby, the parties hereto agree as follows:

 

ARTICLE I

DEFINITIONS

 

Section 1.1
Definitions. As used in this Agreement, the terms set forth in this Article I shall have the following meanings (such
meanings to be equally applicable to both the singular and plural forms of the terms defined).

 

“Accrued Amount”
means, with respect to any portion of a Net Tax Benefit, the interest on the Net Tax Benefit for a Taxable Year calculated at the
Agreed Rate from the due date (without extensions) for filing the Parent Corporation Return for such Taxable Year until the Payment
Date. For the avoidance of doubt, for Tax purposes, the Accrued Amount shall not be treated as interest (except to the extent treated
as Imputed Interest under applicable law), but shall instead be treated as additional consideration unless otherwise required by
law. In the case of a Tax Benefit Payment made in respect of an Amended Schedule, the Accrued Amount means the interest calculated
at the Agreed Rate from the date of such Amended Schedule becoming final in accordance with Section 2.3(b) until the Payment
Date.

 

“Actual Tax
Liability” means, with respect to any Taxable Year, the actual liability for Taxes of the Parent Corporation Group.

 

“Additional
Basis” means any Basis Adjustment resulting from payments made pursuant to this Agreement as described in Section
2.2(b).

 

“Affiliate”
means, with respect to any Person, any other Person that directly or indirectly, through one or more intermediaries, Controls,
is Controlled by, or is under common Control with, such first Person.

 

“Agreed Rate”
means LIBOR plus 300 basis points.

 

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

 

“Amended Schedule”
has the meaning set forth in Section 2.3(b).

 

“Basis
Adjustment” means any adjustment to the Tax basis of a Reference Asset as a result of the Transactions and the payments
made pursuant to this Agreement (as calculated under Section 2,1), including, but not limited to: (i) under Sections
734(b) and 743(b) of the Code (in situations where the Company remains classified as a partnership for U.S. federal income Tax
purposes); (ii) under Sections 732(b), 734(b) and 1012 of the Code (in situations where the Company becomes an entity that is disregarded
as separate from its owner for U.S. federal income Tax purposes); and (iii) under Section 362(a) of the Code. For the avoidance
of doubt, payments made under this Agreement shall not be treated as resulting in a Basis Adjustment to the extent such payments
are treated as Imputed Interest.

 

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“Basis Schedule”
has the meaning set forth in Section 2,1.

 

A “Beneficial
Owner” of a security is a Person who directly or indirectly, through any contract, arrangement, understanding, relationship
or otherwise, has or shares: (i) voting power, which includes the power to vote, or to direct the voting of, such security and/or
(ii) investment power, which includes the power to dispose of, or to direct the disposition of, such security. The terms “Beneficially
Own” and “Beneficial Ownership” shall have correlative meanings.

 

“Blocker”
has the meaning set forth in the Preamble of this Agreement

 

“Blocker Seller”
has the meaning set forth in the Preamble of this Agreement and any of its successors and assigns pursuant to Section 7.6(a).

 

“Board”
means the Board of Directors of the Parent Corporation.

 

“Business
Day” means Monday through Friday of each week, except that a legal holiday recognized as such by the government of the
United States of America or the State of Texas shall not be regarded as a Business Day.

 

“Change of
Control” means the occurrence of any of the following events:

 

(a) any
“person” or “group” (within the meaning of Sections 13(d) and 14(d) of the Securities Exchange Act of 1934,
as amended) becomes the Beneficial Owner of securities of the Parent Corporation representing more than fifty percent (50%) of
the combined voting power of the Parent Corporation’s then outstanding voting securities;

 

(b) the
shareholders of the Parent Corporation approve a plan of complete liquidation or dissolution of the Parent Corporation or there
is consummated an agreement or series of related agreements for the merger or other disposition, directly, or indirectly, by the
Parent Corporation of all or substantially all of the Parent Corporation’s assets, other than such sale or other disposition
by the Parent Corporation of all or substantially all of the Parent Corporation’s assets to an entity at least fifty percent
(50%) of the combined voting power of the voting securities of which are owned by shareholders of the Parent Corporation in substantially
the same proportions as their ownership of the Parent Corporation immediately prior to such sale;

 

(c) there
is consummated a merger or consolidation of the Parent Corporation or any direct or indirect subsidiary of the Parent Corporation
with any other corporation or other entity, and, immediately after the consummation of such merger or consolidation, either (x)
the individuals constituting the Board immediately prior to the merger or consolidation do not constitute at least a majority of
the Board surviving the merger or, if the surviving company is a subsidiary, the ultimate parent thereof, or (y) all of the Persons
who were the respective Beneficial Owners of the voting securities of the Parent Corporation immediately prior to such merger
or consolidation do not Beneficially Own, directly or indirectly, more than 50% of the combined voting power of the then outstanding
voting securities of the Person resulting from such merger or consolidation; or

 

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(d) the
following individuals cease for any reason to constitute a majority of the number of directors of the Board then serving: individuals
who were directors of the Board on the Closing Date or any new director whose appointment or election to the Board or nomination
for election by the Parent Corporation’s shareholders was approved or recommended by a vote of at least two-thirds (2/3)
of the directors then still in office who either were directors of the Board on the Closing Date or whose appointment, election
or nomination for election was previously so approved or recommended by the directors referred to in this clause (d);

 

Notwithstanding the
foregoing, a “Change of Control” shall not be deemed to have occurred by virtue of the consummation of any transaction
or series of integrated transactions immediately following which the record holders of the common stock of the Parent Corporation
immediately prior to such transaction or series of transactions continue to have substantially the same proportionate ownership
in and voting control over, and own substantially all of the shares of, an entity which owns all or substantially all of the assets
of the Parent Corporation immediately following such transaction or series of transactions.

 

“Closing Date”
means the closing date of the Merger and the Transactions.

 

“Closing Date
Basis” means (i) the Tax basis immediately prior to the Transactions of any Reference Asset that is goodwill or any other
intangible asset, (ii) any Tax basis resulting from any “start-up expenditures” (as defined in Section 195(c)(1) of
the Code) incurred in connection with the Transactions and all associated transactions and (iii) any Basis Adjustments resulting
from the Transactions.

 

“Code”
has the meaning set forth in the Recitals of this Agreement.

 

“Company”
has the meaning set forth in the Recitals of this Agreement.

 

“Control”
means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person,
whether through ownership of voting securities, by contract or otherwise.

 

“Corporate
Entity” means the Blocker and any Subsidiary of the Company that is classified as a corporation for U.S. federal income
tax purposes.

 

“Cumulative
Net Realized Tax Benefit” for a Taxable Year means the excess, if any, of the cumulative amount of Realized Tax Benefits
for all Taxable Years of the Parent Corporation Group, up to and including such Taxable Year, over the cumulative amount of Realized
Tax Detriments for the same period. The Realized Tax Benefit and Realized Tax Detriment for each Taxable Year shall be determined
based on the most recent Tax Benefit Schedule or Amended Schedule, if any, in existence at the time of such determination.

 

“Default Rate”
means LIBOR plus 500 basis points.

 

“Designated
Tax Attributes” means the Closing Date Basis, any Additional Basis, any Imputed Interest and any NOLs.

 

“Determination”
shall have the meaning ascribed to such term in Section 1313(a) of the Code or any other event (including the execution of IRS
Form 870-AD) that finally and conclusively establishes the amount of any liability for Tax, including, for the avoidance of doubt,
a concession of an issue by the taxpayer or agreement with a Taxing Authority on any issue.

 

“Dispute”
has the meaning set forth in Section 7.9(a).

 

    4

     

    

 

“Disputing
Party” has the meaning set forth in Section 7,10.

 

“Early Termination”
has the meaning set forth in Section 4,1.

 

“Early Termination
Date” means the date of an Early Termination Notice for purposes of determining the Early Termination Payment.

 

“Early Termination
Effective Date” has the meaning set forth in Section 4,4.

 

“Early Termination
Notice” has the meaning set forth in Section 4,4.

 

“Early Termination
Payment” has the meaning set forth in Section 4.5(b).

 

“Early Termination
Rate” means LIBOR plus 100 basis points; provided, that in the case of an Early Termination to which the last
sentence of the definition of “Valuation Assumptions” applies, it shall mean LIBOR plus 200 basis points.

 

“Early Termination
Schedule” has the meaning set forth in Section 4,4.

 

“Earnout Shares”
has the meaning ascribed to such term in the Merger Agreement.

 

“Expert”
means such nationally recognized expert in the particular area of disagreement as is mutually acceptable to both parties and is
described in Section 7,10.

 

“Hypothetical
Tax Liability” means, with respect to any Taxable Year, the liability for Taxes of the Parent Corporation Group (using
the same methods, elections, conventions, U.S. federal income tax rate and similar practices used on the relevant Parent Corporation
Return), but without taking into account any Designated Tax Attributes. For the avoidance of doubt, Hypothetical Tax Liability
shall be determined without taking into account (i) the carryover or carryback of any Tax item (or portions thereof) that is attributable
to any Designated Tax Attribute or (ii) any deduction for Imputed Interest. If all or a portion of the liability for Taxes for
a Taxable Year arises as a result of an audit or similar proceeding by a Taxing Authority of such Taxable Year, such liability
shall not be included in determining the Hypothetical Tax Liability unless and until there has been a Determination.

 

“Imputed Interest”
means any interest imputed under Section 1272, 1274 or 483 or other provision of the Code with respect to the Parent Corporation’s
payment obligations under this Agreement.

 

“IRS” means
the U.S. Internal Revenue Service.

 

“LIBOR”
means during any period, an interest rate per annum equal to the one-year LIBOR rate reported, on the date two (2) calendar days
prior to the first day of such period, on the Telerate Page 3750 (or if such screen shall cease to be publicly available, as reported
on Reuters Screen page “LIBOROl” or by any other publicly available source of such market rate) for London interbank
offered rates for United States dollar deposits for such period.

 

“Material
Objection Notice” has the meaning set forth in Section 4,4.

 

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

 

    5

     

    

 

“Net Tax Benefit”
for each Taxable Year shall mean an amount equal to the excess, if any, of (i) 85% of the Cumulative Net Realized Tax Benefit as
of the end of such Taxable Year over (ii) the total amount of payments previously made under Section 3,1 (excluding payments
attributable to Accrued Amounts).

 

“NOLs”
means the net operating losses, capital losses, Section 163(j) Carryovers and credit carryforwards of any Corporate Entity relating
to taxable periods ending on or prior to the Closing Date.

 

“Objection
Notice” has the meaning set forth in Section 2.3(a).

 

“Parent Corporation”
has the meaning set forth in the Preamble of this Agreement.

 

“Parent Corporation
Group” means the Parent Corporation, any direct or indirect Subsidiary of the Parent Corporation and any consolidated,
combined, unitary or similar group of entities that join in filing any Tax Return.

 

“Parent Corporation
Return” means the U.S. federal income Tax Return of the Parent Corporation (including any consolidated group of which
the Parent Corporation is a member, as further described in Section 7,11) filed with respect to any Taxable Year.

 

“Payment Date”
means any date on which a payment is required to be made pursuant to this Agreement.

 

“Person”
means any individual, corporation, firm, partnership, joint venture, limited liability company, estate, trust, business association,
organization, governmental entity or other entity.

 

“Realized Tax
Benefit” means, for a Taxable Year, the excess, if any, of the Hypothetical Tax Liability over the Actual Tax Liability.
If all or a portion of the Actual Tax Liability for such Taxes for the Taxable Year arises as a result of an audit by a Taxing
Authority of any Taxable Year, such liability shall not be included in determining the Realized Tax Benefit unless and until there
has been a Determination.

 

“Realized
Tax Detriment” means, for a Taxable Year, the excess, if any, of the Actual Tax Liability over the Hypothetical Tax Liability.
If all or a portion of the Actual Tax Liability for such Taxes for the Taxable Year arises as a result of an audit by a Taxing
Authority of any Taxable Year, such liability shall not be included in determining the Realized Tax Detriment unless and until
there has been a Determination.

 

“Reconciliation
Dispute” has the meaning set forth in Section 7,10.

 

“Reconciliation
Procedures” means the procedures described in Section 7,10.

 

“Reference
Asset” means an asset (other than cash or a cash equivalent) that is held by the Company, Blocker or any of the direct
or indirect Subsidiaries of the Company. A Reference Asset also includes any asset that is “substituted basis property”
under Section 7701(a)(42) of the Code with respect to a Reference Asset.

 

“Schedule”
means any of the following: (i) the Basis Schedule, (ii) a Tax Benefit Schedule, or (iii) the Early Termination Schedule.

 

“Section 163(i)
Carryovers” means disallowed interest expense carryforwards under Section 163(j) of the Code.

 

    6

     

    

 

“Senior Obligations”
has the meaning set forth in Section 5,1.

 

“Subsidiaries”
means, with respect to any Person, as of any date of determination, any other Person as to which such Person, owns, directly or
indirectly, or otherwise controls more than 50% of the voting power or other similar interests or the sole general partner interest
or managing member or similar interest of such Person.

 

“Tax Benefit
Payment” has the meaning set forth in Section 3,1.

 

“Tax Benefit
Schedule” has the meaning set forth in Section 2,2.

 

“Tax Proceeding”
has the meaning set forth in Section 6,1.

 

“Tax Return”
means any return, declaration, report or similar statement required to be filed with respect to Taxes (including any attached schedules),
including any information return, claim for refund, amended return and declaration of estimated Tax.

 

“Taxable Year”
means a taxable year of the Parent Corporation as defined in Section 441(b) of the Code (and, therefore, for the avoidance of doubt,
may include a period of less than twelve (12) months for which a Tax Return is made), ending on or after the Closing Date.

 

“Taxes”
means any and all taxes, assessments or similar charges imposed by the United States or any subdivision thereof that are based
on or measured with respect to net income or profits, and any interest related to such Tax.

 

“Taxing Authority”
means any federal, national, state, county or municipal or other local government, any subdivision, agency, commission or authority
thereof, or any quasi- governmental body exercising any taxing authority or any other authority exercising Tax regulatory authority.

 

“TRA Holders”
means Seller and Blocker Seller.

 

“Transactions”
has the meaning set forth in the Recitals of this Agreement.

 

“Transferor”
has the meaning set forth in Section 7.11(b).

 

“Treasury
Regulations” means the final, temporary and proposed regulations under the Code promulgated from time to time (including
corresponding provisions and succeeding provisions) as in effect for the relevant Taxable Year.

 

“Valuation
Assumptions” means, as of an Early Termination Date, the assumptions that in each Taxable Year ending on or after such
Early Termination Date, (i) the Parent Corporation Group will have taxable income sufficient to fully utilize (A) the deductions
arising from all Designated Tax Attributes during such Taxable Year or future Taxable Years (including, for the avoidance of doubt,
Designated Tax Attributes that would result from future Tax Benefit Payments that would be paid in accordance with the Valuation
Assumptions, further assuming such future Tax Benefit Payments would be paid on the due date, without extensions, for filing the
Parent Corporation Return for the applicable Taxable Year) in which such deductions would become available and (B) any loss or
credit carryovers generated by deductions arising from any Designated Tax Attributes that are available in the Taxable Year that
includes the Early Termination Date and any NOLs that have not been previously utilized in determining a Tax Benefit Payment as
of the date of such Early Termination Payment will be utilized by the Parent Corporation Group ratably each year from the Early
Termination Date through the scheduled expiration date of such NOLs (or, if there is no scheduled expiration date, then the scheduled
expiration date for these purposes shall be deemed to be the tenth (10th) anniversary of such Early Termination Date)
and (ii) the U.S. federal income Tax rates and state, local, and foreign income tax rates for each such Taxable Year will be those
specified for each such Taxable Year by the Code and other law as in effect on the Early Termination Date.

 

    7

     

    

 

Section 1.2
Other Definitional and Interpretative Provisions. 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. 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. 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. “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
agreement or contract are to that agreement or contract as amended, modified or supplemented from time to time in accordance with
the terms thereof. 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 or through and including, respectively.

 

ARTICLE II

DETERMINATION OF CERTAIN REALIZED TAX BENEFIT

 

Section
2.1 Basis Schedule. Within sixty (60) calendar days after the filing of the Parent Corporation Return for the Taxable Year
in which the Transactions are effected, the Parent Corporation shall deliver to Seller a schedule (the “Closing
Date Attribute Schedule”) that shows, in reasonable detail necessary to perform the calculations required by this Agreement,
(i) the Closing Date Basis, (ii) the period (or periods) over which such Closing Date Basis is amortizable and/or depreciable,
(iii) the NOLs, (iv) the scheduled expiration dates, if any, of the NOLs, and (v) any applicable limitations on the use of the
NOLs for Tax purposes (including under Section 382 of the Code). Within sixty (60) calendar days after the filing of the Parent
Corporation Return for a Taxable Year following the Taxable Year in which the Transactions are effected in which there arises additional
Closing Date Basis or Additional Basis, the Parent Corporation shall deliver to Seller a schedule (together with the Closing Date
Attribute Schedule, the “Basis Schedule”) that shows, in reasonable detail necessary to perform the calculations
required by this Agreement, (y) any additional Closing Date Basis and any Additional Basis and (z) the period (or periods) over
which such Closing Date Basis and Additional Basis is amortizable and/or depreciable.

 

Section 2.2 Tax Benefit
Schedule.

 

(a) Within
sixty (60) calendar days after the filing of the Parent Corporation Return for any Taxable Year in which there is a Realized Tax
Benefit or Realized Tax Detriment, the Parent Corporation shall provide to Seller: (i) a schedule showing, in reasonable detail,
the calculation of the Realized Tax Benefit or Realized Tax Detriment for such Taxable Year and the allocation of any Net Tax Benefit
among the TRA Holders, which allocation shall be made in accordance with Schedule A (a “Tax Benefit Schedule”),
(ii) the Parent Corporation Return, (iii) a reasonably detailed calculation by the Parent Corporation of the Hypothetical Tax Liability,
(iv) a reasonably detailed calculation by the Parent Corporation of the Actual Tax Liability, and (v) any other work papers related
thereto that are reasonably available to the Parent Corporation and requested by Seller. In addition, the Parent Corporation shall
allow Seller reasonable access to the appropriate representatives of the Parent Corporation Group in connection with a review of
such Tax Benefit Schedule. The Parent Corporation may use reasonable estimation methodologies for calculating the portion of any
Realized Tax Benefit or Realized Tax Detriment attributable to U.S. state or local Taxes. The Tax Benefit Schedule will become
final as provided in Section 2.3(a) and may be amended as provided in Section 2.3(b) (subject to the procedures set
forth in Section 2.3(b)).

 

    8

     

    

 

(b) For
purposes of calculating the Realized Tax Benefit or Realized Tax Detriment for any Taxable Year, carryovers or carrybacks of any
Designated Tax Attribute shall be considered to be subject to the rules of the Code and the Treasury Regulations, as applicable,
governing the use, limitation and expiration of carryovers or carrybacks of the relevant type. If a carryover or carryback of any
Tax item includes a portion that is attributable to any Designated Tax Attribute and another portion that is not so attributable,
such respective portions shall be considered to be used in accordance with a “with and without” methodology. The parties
agree that (i) any payment under this Agreement (to the extent permitted by law and other than amounts accounted for as Imputed
Interest) will have the effect of creating Additional Basis in Reference Assets (other than Reference Assets owned by a Corporate
Entity) for the Parent Corporation Group in the year of payment to the extent that the payment is allocated to Seller, and (ii)
as a result, such Additional Basis will be incorporated into the calculation for the year of payment and into future year calculations,
as appropriate.

 

Section 2.3 Procedure; Amendments.

 

(a) An
applicable Schedule or amendment thereto shall become final and binding on all parties thirty (30) calendar days from the first
date on which Seller has received the applicable Schedule or amendment thereto unless Seller (i) within thirty (30) calendar days
after receiving an applicable Schedule or amendment thereto, provides the Parent Corporation with notice of a material objection
to such Schedule (“Objection Notice”) made in good faith or (ii) provides a written waiver of such right of
any Objection Notice within the period described in clause (i) above, in which case such Schedule or amendment thereto becomes
binding on the date the waiver is received by the Parent Corporation. If the Parent Corporation and Seller, for any reason, are
unable to successfully resolve the issues raised in an Objection Notice within thirty (30) calendar days after receipt by the Parent
Corporation of such Objection Notice, the Parent Corporation and Seller shall employ the Reconciliation Procedures.

 

(b) The
applicable Schedule for any Taxable Year may be amended from time to time by the Parent Corporation (i) in connection with a Determination
affecting such Schedule, (ii) to correct inaccuracies in the Schedule identified as a result of the receipt of additional factual
information relating to a Taxable Year after the date the Schedule was provided to Seller, (iii) to correct inaccuracies in the
Schedule as a result of a change in law or applicable rules or regulations (including, if applicable, any such change having retroactive
effect), provided that any such amendment, to the extent applicable, must be consistent with the Tax Returns (including
any amendments) of the Parent Corporation Group, (iv) to correct inaccuracies in the Schedule as a result of a clerical or computational
error in preparation of the Schedule, (v) to comply with the Expert’s determination under the Reconciliation Procedures,
(vi) to reflect a change in the Realized Tax Benefit or Realized Tax Detriment for such Taxable Year attributable to a carryback
or carryforward of a loss or other Tax item to such Taxable Year, (vii) to reflect a change in the Realized Tax Benefit or Realized
Tax Detriment for such Taxable Year attributable to an amended Tax Return filed for such Taxable Year or (viii) to adjust a Basis
Schedule to take into account payments made pursuant to this Agreement (any such Schedule, an “Amended Schedule”).
The Parent Corporation shall provide an Amended Schedule to Seller within sixty (60) calendar days after the end of any Taxable
Year in which one or more events referenced in clauses (i) through (viii) of the preceding sentence occurred which Amended Schedule
shall reflect cumulative revisions attributable to all such events occurring in such Taxable Year. For the avoidance of doubt,
in the event a Schedule is amended after such Schedule becomes final pursuant to Section 2.3(a), the Amended Schedule shall
not be taken into account in calculating any Tax Benefit Payment in the Taxable Year to which the amendment relates but instead
shall be taken into account in calculating the Cumulative Net Realized Tax Benefit for the Taxable Year in which the amendment
actually occurs.

 

    9

     

    

 

ARTICLE III

TAX BENEFIT PAYMENTS

 

Section 3.1 Payments.

 

(a) Within
five (5) Business Days after a Tax Benefit Schedule for a Taxable Year becomes final in accordance with Section 2.3(a),
the Parent Corporation shall pay the Net Tax Benefit to the Seller for the benefit of the TRA Holders and the Accrued Amount with
respect thereto. Payment of the Net Tax Benefit and the Accrued Amount with respect thereto (together a “Tax Benefit
Payment”) shall be made by check, by wire transfer of immediately available funds to the bank account previously designated
by Seller to the Parent Corporation, or as otherwise agreed by the Parent Corporation and Seller. The parties hereto acknowledge
and agree that a portion of each Tax Benefit Payment shall be characterized as Imputed Interest. Neither Seller nor any TRA Holder
shall be required to return any portion of any previously made Tax Benefit Payment.

 

Section 3.2
No Duplicative Payments. It is intended that the provisions of this Agreement will not result in duplicative payment of
any amount (including interest) required under this Agreement. It is also intended that the provisions of this Agreement will result
in 85% of the Cumulative Net Realized Tax Benefit, and the Accrued Amount thereon, being paid to the Persons due payments pursuant
to this Agreement. The provisions of this Agreement shall be construed in the appropriate manner to achieve these fundamental results.

 

Section 3.3
Pro Rata Payments. If for any reason the Parent Corporation does not fully satisfy its payment obligations to make all Tax
Benefit Payments due under this Agreement in respect of a particular Taxable Year, then (i) the Parent Corporation will pay the
same proportion of each Tax Benefit Payment due to each Person due a payment under this Agreement in respect of such Taxable Year,
without favoring one obligation over the other, and (ii) no Tax Benefit Payment shall be made in respect of any Taxable Year until
all Tax Benefit Payments in respect of prior Taxable Years have been made in full.

 

    10

     

    

 

ARTICLE IV

TERMINATION

 

Section 4.1
Early Termination at Election of the Corporate Taxpayer. The Parent Corporation may terminate this Agreement at any time
by paying to Seller for the benefit of the TRA Holders the Early Termination Payment due to the TRA Holders pursuant to Section
4.5(b) (an “Early Termination”); provided that the Parent Corporation may withdraw any notice to
execute its termination rights under this Section 4,1 prior to the time at which any Early Termination Payment has been
paid. Upon payment of the Early Termination Payment by the Parent Corporation, the Parent Corporation shall not have any further
payment obligations under this Agreement, other than for any Tax Benefit Payment previously due and payable but unpaid as of the
Early Termination Notice. Upon payment of all amounts provided for in this Section 4,1, this Agreement shall terminate.

 

Section 4.2 Breach
of Agreement.

 

(a)
In the event that the Parent Corporation breaches any of its material obligations under this Agreement, whether as a result of
failure to make any payment when due, failure to honor any other material obligation required hereunder or by operation of law
as a result of the rejection of this Agreement in a case commenced under the Bankruptcy Code or otherwise, and such breach is not
cured by the Parent Corporation within thirty (30) days after notice is provided by the Seller, then at the election of Seller,
such breach shall be treated as an Early Termination. Upon such election, all obligations hereunder shall be accelerated and such
obligations shall be calculated as if an Early Termination Notice had been delivered on the date of such breach and shall
include (i) the Early Termination Payment, calculated as if an Early Termination Notice had been delivered on the date of a breach
and (ii) any Tax Benefit Payment previously due and payable but unpaid as of the date of a breach. Notwithstanding the foregoing,
in the event that the Parent Corporation breaches this Agreement, the TRA Holders shall be entitled to elect to receive the amounts
set forth in clauses (i) and (ii) above or to seek specific performance of the terms hereof.

 

(b) The
parties agree that the failure to make any payment due pursuant to this Agreement within three (3) months of the date such payment
is due shall be deemed to be a breach of a material obligation under this Agreement for all purposes of this Agreement, and that
it shall not be considered to be a breach of a material obligation under this Agreement to make a payment due pursuant to this
Agreement within three (3) months of the date such payment is due. Notwithstanding anything in this Agreement to the contrary,
it shall not be a breach of this Agreement if the Parent Corporation fails to make any Tax Benefit Payment when due to the extent
that the Parent Corporation has insufficient funds to make such payment; provided that the interest provisions of Section
5,2 shall apply to such late payment (unless the Parent Corporation does not have sufficient cash to make such payment as a
result of limitations imposed by existing credit agreements to which Parent Corporation or any Subsidiary of Parent Corporation
is a party, in which case Section 5,2 shall apply, but the Default Rate shall be replaced by the Agreed Rate); provided
further that it shall be a breach of this Agreement, and the provisions of Section 4.2(a) shall apply as of the original
due date of the Tax Benefit Payment, if the Parent Corporation makes any distribution of cash or other property to its shareholders
while any Tax Benefit Payment is due and payable but unpaid.

 

    11

     

    

 

Section 4.3
Acceleration Upon Change of Control. In the event of a Change of Control, all obligations hereunder shall be accelerated
and such obligations shall be calculated pursuant to this Article IV as if an Early Termination Notice had been delivered on the
closing date of the Change of Control and utilizing the Valuation Assumptions by substituting the phrase “the closing date
of a Change of Control” in each place where the phrase “Early Termination Effective Date” appears. Such obligations
shall include, but not be limited to, (1) the Early Termination Payment calculated as if an Early Termination Notice had been delivered
on the closing date of the Change of Control, (2) any Tax Benefit Payments agreed to by the Parent Corporation and the TRA Holders
as due and payable but unpaid as of the Early Termination Notice and (3) any Tax Benefit Payments due for any Taxable Year ending
prior to, with or including the closing date of a Change of Control (except to the extent that any amounts described in clauses
(2) or (3) are included in the Early Termination Payment). For the avoidance of doubt, Section 4.4 and Section 4.5 shall apply
to a Change of Control, mutatis mutandis.

 

Section
4.4 Early Termination Notice. If the Parent Corporation chooses to exercise its right of early termination under Section
4,1 above, the Parent Corporation shall deliver to Seller notice of such intention to exercise such right (the “Early
Termination Notice”) and a schedule (the “Early Termination Schedule”) showing in reasonable detail
the calculation of the Early Termination Payment; provided, that in the case of an Early Termination to which the last sentence
of the definition of “Valuation Assumptions” applies, the Parent Corporation shall be required to consult with Seller
in preparing the Early Termination Schedule in accordance with the last sentence of the definition of “Valuation Assumptions”
prior to delivering such schedule to Seller pursuant to the first part of this sentence. The Early Termination Schedule
shall become final and binding on all parties thirty (30) calendar days from the first date on which Seller has received such Schedule
or amendment thereto unless Seller (i) within thirty (30) calendar days after receiving the Early Termination Schedule, provides
the Parent Corporation with notice of a material objection to such Schedule made in good faith (“Material Objection Notice”)
or (ii) provides a written waiver of such right of a Material Objection Notice within the period described in clause (i) above,
in which case such Schedule becomes binding on the date the waiver is received by the Parent Corporation (the “Early Termination
Effective Date”). If the Parent Corporation and Seller, for any reason, are unable to successfully resolve the issues
raised in such notice within thirty (30) calendar days after receipt by the Parent Corporation of the Material Objection Notice,
the Parent Corporation and Seller shall employ the Reconciliation Procedures.

 

Section 4.5 Payment
upon Early Termination.

 

(a) Subject
to its right to withdraw any notice of Early Termination pursuant to Section 4,1, within five (5) Business Days after the
Early Termination Effective Date, the Parent Corporation shall pay to Seller, for the benefit of the TRA Holders, the aggregate
amount of Early Termination Payments to which the TRA Holders are entitled hereunder. Such payment shall be made by check, by wire
transfer of immediately available funds to a bank account or accounts designated by Seller, or as otherwise agreed by the Parent
Corporation and Seller.

 

(b) The
“Early Termination Payment” shall equal, with respect to each TRA Holder, the present value, discounted at the
Early Termination Rate as of the Early Termination Date, of all Tax Benefit Payments that would be required to be paid by the Parent
Corporation to such TRA Holder beginning from the Early Termination Date (including, for the avoidance of doubt, any Tax Benefit
Payment due and unpaid for the Taxable Year ending with or including the date of the Early Termination Notice) and assuming that
the Valuation Assumptions are applied.

 

ARTICLE V

SUBORDINATION AND LATE PAYMENTS

 

Section 5.1
Subordination. Notwithstanding any other provision of this Agreement to the contrary, any Tax Benefit Payment, Early Termination
Payment or any other payment required to be made by the Parent Corporation to any TRA Holder under this Agreement shall rank subordinate
and junior in right of payment to any principal, interest or other amounts due and payable in respect of any secured obligations
or obligations in respect of indebtedness for borrowed money of the Parent Corporation and its Subsidiaries (such obligations,
“Senior Obligations”) and shall rank pari passu with all current or future unsecured obligations of the Parent
Corporation that are not Senior Obligations. For the avoidance of doubt, notwithstanding the above, the determination of whether
it is a breach of this Agreement if the Parent Corporation fails to make any Tax Benefit Payment when due is governed by Section
42(a).

 

Section
5.2 Late Payments by the Parent Corporation. The amount of all or any portion of any Tax Benefit Payment, Early Termination
Payment or any other payment under this Agreement not made to Seller for the benefit of the TRA Holders when due under the
terms of this Agreement shall be payable together with any interest thereon, computed at the Default Rate (or, if so provided in
Section 4.2(a), at the Agreed Rate) and commencing from the date on which such Tax Benefit Payment, Early Termination Payment
or any other payment under this Agreement was due and payable.

 

ARTICLE VI

NO DISPUTES;
CONSISTENCY; COOPERATION; BOARD ACTION

 

Section 6.1 Participation
in the Parent Corporation Group’s Tax Matters. Except as otherwise provided herein, the Parent Corporation shall have
full responsibility for, and sole discretion over, all Tax matters concerning the Parent Corporation Group, including without limitation
the preparation, filing or amending of any Tax Return and defending, contesting or settling any issue pertaining to Taxes. Notwithstanding
the foregoing, the Parent Corporation shall notify Seller of, and keep Seller reasonably informed with respect to, the portion
of any audit, examination, or any other administrative or judicial proceeding (a “Tax Proceeding”) of any member
of the Parent Corporation Group by a Taxing Authority the outcome of which is reasonably expected to affect the rights and obligations
of the TRA Holders under this Agreement, and shall provide to Seller reasonable opportunity to provide information and other input
to the members of the Parent Corporation Group and their respective advisors concerning the conduct of any such portion of such
Tax Proceeding.

 

    12

     

    

 

Section 6.2 Consistency.
The Parent Corporation and the TRA Holders agree to report and cause to be reported for all purposes, including U.S. federal, state
and local Tax purposes and financial reporting purposes, all Tax-related items (including the Designated Tax Attributes and each
Tax Benefit Payment) in a manner consistent with that set forth in any Schedule or Amended Schedule required to be provided by
or on behalf of the Parent Corporation under this Agreement, as finally determined pursuant to Section 2.3. If the Parent Corporation
and any TRA Holder, for any reason, are unable to successfully resolve any disagreement concerning such treatment within thirty
(30) calendar days, the Parent Corporation and such TRA Holder shall employ the Reconciliation Procedures.

 

Section 6.3 Cooperation.
Each TRA Holder shall (i) furnish to the Parent Corporation in a timely manner such information, documents and other materials
as the Parent Corporation may reasonably request for purposes of making any determination or computation necessary or appropriate
under this Agreement, preparing any Tax Return or contesting or defending any Tax Proceeding (for the avoidance of doubt, excluding
any information, documents or materials relating to the owners of a TRA Holder), (ii) make itself available to the Parent Corporation
and its representatives to provide explanations of the documents and materials and such other information as the Parent Corporation
or its representatives may reasonably request in connection with any of the matters described in clause (i) above, and (iii) reasonably
cooperate in connection with any such matter.

 

Section 6.4 Board
Action. To the extent the Parent Corporation would, acting in accordance with its usual governance arrangements, require its
Board to approve or take an action with respect to this Agreement, the Parent Corporation shall instead or in addition obtain the
approval of the audit committee of its Board for such approval or action.

 

ARTICLE VII

MISCELLANEOUS

 

Section 7.1
Notices. All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be deemed
duly given and received (i) on the date of delivery if delivered personally, or by facsimile upon confirmation of transmission
by the sender’s fax machine if sent on a Business Day (or otherwise on the next Business Day) or (ii) on the first Business
Day following the date of dispatch if delivered by a recognized next- day courier service. All notices hereunder shall be delivered
as set forth below, or pursuant to such other instructions as may be designated in writing by the party to receive such notice:

 

If to the Parent Corporation, to:

 

FinTech Acquisition Corp. Ill Parent Corp.

303 Perimeter Center North, Suite 600

Atlanta, GA 30346

 

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

 

If to TRA Holders, to:

 

GTCR-Ultra Holdings, LLC

c/o GTCR Management XI LLC

300 North LaSalle Street, Suite 5600

Chicago, Illinois 60654

Attention: Collin E. Roche and Aaron D.
Cohen

Email: croche@gtcr.com and aaron.cohen@gtcr.com

 

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with a copy to:

 

Kirkland & Ellis
LLP

300 North LaSalle

Chicago, Illinois 60654

Attention: Mark A. Fennell, P.C.,
Christian O. Nagler and Christopher M. Thomas, P.C. Facsimile: (312) 862-2200

 

E-mail: mfennell@kirkland.com,
christian.nagler@kirkland.com and christopher.thomas@kirkland.com

 

Any party may change its address or fax number
by giving the other party written notice of its new address or fax number in the manner set forth above.

 

Section
7.2 Counterparts. This Agreement may be executed in one or more counterparts, all of which shall be considered one and the
same agreement and shall become effective when one or more counterparts have been signed by each of the parties and delivered to
the other parties, it being understood that all parties need not sign the same counterpart. Delivery of an executed signature
page to this Agreement by facsimile transmission shall be as effective as delivery of a manually signed counterpart of this Agreement.

 

Section 7.3
Entire Agreement; No Third Party Beneficiaries. This Agreement 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. This Agreement
shall be binding upon and inure solely to the benefit of each party hereto and their respective successors and permitted assigns,
and nothing in this Agreement, express or implied, is intended to or shall confer upon any other Person any right, benefit or remedy
of any nature whatsoever under or by reason of this Agreement.

 

Section 7.4
Governing Law. This Agreement shall be governed by, and construed in accordance with, the law of the State of Delaware,
without regard to the conflicts of laws principles thereof that would mandate the application of the laws of another jurisdiction.

 

Section 7.5
Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any
law or public policy, all other terms and provisions of this Agreement shall nevertheless remain in full force and effect so long
as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to
any party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties
hereto 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 are consummated as originally contemplated
to the greatest extent possible.

 

Section 7.6 Successors;
Assignment.

 

(a) Following
a written consent of the Parent Corporation (such consent not to be unreasonably withheld, conditioned or delayed) a TRA Holder
may assign this Agreement to any person without the prior written consent of the Parent Corporation as long as such transferee
executes and delivers a joinder to this Agreement, in form and substance reasonably satisfactory to the Parent Corporation, agreeing
to become a “TRA Holder” for all purposes of this Agreement, except as otherwise provided in such joinder. Any and
all payments payable or that may become payable to a TRA Holder pursuant to this Agreement may be assigned to any Person or Persons
as long as any such Person executes and delivers a joinder to this Agreement, in form and substance reasonably satisfactory to
the Parent Corporation, agreeing to be bound by Section 7,12 and acknowledging specifically the terms of Section 7.6(b).

 

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(b) Notwithstanding
the foregoing provisions of this Section 7,6, no assignee described in the second sentence of Section 7.6(a) shall
have any rights under this Agreement except for the right to enforce its right to receive payments under this Agreement.

 

(c) Except
as otherwise specifically provided herein, all of the terms and provisions of this Agreement shall be binding upon, shall inure
to the benefit of and shall be enforceable by the parties hereto and their respective successors, assigns, heirs, executors, administrators
and legal representatives. The Parent Corporation shall cause any direct or indirect successor (whether by purchase, merger, consolidation
or otherwise) to all or substantially all of the business or assets of the Parent Corporation, by written agreement, expressly
to assume and agree to perform this Agreement in the same manner and to the same extent that the Parent Corporation would be required
to perform if no such succession had taken place.

 

Section 7.7
Amendments; Waivers. No provision of this Agreement may be amended unless such amendment is approved in writing by each
of the Parent Corporation and by the TRA Holders who would be entitled to receive a majority of the Early Termination Payments
payable to all TRA Holders hereunder as of the date of the proposed amendment (excluding, for purposes of this sentence, all payments
made to any TRA Holder pursuant to this Agreement as of the date of the proposed amendment). No provision of this Agreement may
be waived unless such waiver is in writing and signed by the party against whom the waiver is to be effective.

 

Section 7.8
Titles and Subtitles. The titles of the sections and subsections of this Agreement are for convenience of reference only
and are not to be considered in construing this Agreement.

 

Section 7.9 Resolution
of Disputes.

 

(a) Any
and all disputes which are not governed by Section 7,10, including any ancillary claims of any party, arising out of, relating
to or in connection with the validity, negotiation, execution, interpretation, performance or non-performance of this Agreement
(including the validity, scope and enforceability of this Section 7,9 and Section 7,10) (each a “Dispute”)
shall be governed by this Section 7,9. The parties hereto shall attempt in good faith to resolve all Disputes by negotiation.
If a Dispute between the parties hereto cannot be resolved in such manner, such Dispute shall be finally settled by arbitration
conducted by a single arbitrator in the State of Delaware in accordance with the then-existing Rules of Arbitration of the International
Chamber of Commerce. If the parties to the Dispute fail to agree on the selection of an arbitrator within ten (10) calendar days
of the receipt of the request for arbitration, the International Chamber of Commerce shall make the appointment. The arbitrator
shall be a lawyer admitted to the practice of law in the State of Delaware and shall conduct the proceedings in the English language.
Performance under this Agreement shall continue if reasonably possible during any arbitration proceedings. In addition to monetary
damages, the arbitrator shall be empowered to award equitable relief, including an injunction and specific performance of any obligation
under this Agreement. The arbitrator is not empowered to award damages in excess of compensatory damages, and each party hereby
irrevocably waives any right to recover punitive, exemplary or similar damages with respect to any Dispute. The award shall be
the sole and exclusive remedy between the parties regarding any claims, counterclaims, issues, or accounting presented to the arbitral
tribunal. Judgment upon any award may be entered and enforced in any court having jurisdiction over a party or any of its assets.

 

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(b) Notwithstanding
the provisions of Section 7.9(a), the Parent Corporation may bring an action or special proceeding in any court of competent
jurisdiction for the purpose of compelling a party to arbitrate, seeking temporary or preliminary relief in aid of an arbitration
hereunder, and/or enforcing an arbitration award and, for the purposes of this Section 7.9(b), Seller and each TRA Holder
(i) expressly consents to the application of Section 7.9(c) to any such action or proceeding, (ii) agrees that proof shall
not be required that monetary damages for breach of the provisions of this Agreement would be difficult to calculate and
that remedies at law would be inadequate, and (iii) irrevocably appoints the Parent Corporation as agent of such party for service
of process in connection with any such action or proceeding and agrees that service of process upon such agent, who shall promptly
advise such party in writing of any such service of process, shall be deemed in every respect effective service of process upon
such party in any such action or proceeding.

 

(c) EACH
PARTY HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF COURTS LOCATED IN DELAWARE, FOR THE PURPOSE OF ANY JUDICIAL PROCEEDING
BROUGHT IN ACCORDANCE WITH THE PROVISIONS OF PARAGRAPH (B) OF THIS SECTION 7,9, OR ANY JUDICIAL PROCEEDING ANCILLARY TO
AN ARBITRATION OR CONTEMPLATED ARBITRATION ARISING OUT OF OR RELATING TO OR CONCERNING THIS AGREEMENT. Such ancillary judicial
proceedings include any suit, action or proceeding to compel arbitration, to obtain temporary or preliminary judicial relief in
aid of arbitration, or to confirm an arbitration award. The parties acknowledge that the fora designated by this Section 7.9(c)
have a reasonable relation to this Agreement, and to the parties’ relationship with one another.

 

(d) The
parties hereby waive, to the fullest extent permitted by applicable law, any objection which they now or hereafter may have to
personal jurisdiction or to the laying of venue of any such ancillary suit, action or proceeding brought in any court referred
to in Section 7.9(c) and such parties agree not to plead or claim the same.

 

Section
7.10 Reconciliation. In the event that the Parent Corporation and Seller (with respect to matters governed by the definition
of “Valuation Assumptions”, Section 2,3 and Section 4.4) or any TRA Holder (with respect to matters governed
by Section 6,2) (as applicable, the “Disputing Party”) are unable to resolve a disagreement with respect
to such matters within the relevant period designated in this Agreement (“Reconciliation Dispute”), the Reconciliation
Dispute shall be submitted to the Expert. The Expert shall be a partner or principal in a nationally recognized accounting or law
firm, and unless the Parent Corporation and the Disputing Party agree otherwise, the Expert shall not, and the firm that employs
the Expert shall not, have any material relationship with the Parent Corporation or the Disputing Party or other actual or potential
conflict of interest. If the parties are unable to agree on an Expert within fifteen (15) calendar days of receipt by the respondent(s)
of written notice of a Reconciliation Dispute, the Expert shall be appointed by the International Chamber of Commerce Centre for
Expertise. The Expert shall resolve any matter relating to the Early Termination Schedule or an amendment thereto within thirty
(30) calendar days and shall resolve any matter relating to a Tax Benefit Schedule or an amendment thereto within fifteen (15)
calendar days or as soon thereafter as is reasonably practicable, in each case after the matter has been submitted to the Expert
for resolution; provided that in resolving any matter, the Expert shall not require the Parent Corporation or any Affiliate thereof
to take a position, or to make any payment based on a position, that is not “more likely than not” to be sustained.
Notwithstanding the preceding sentence, if the matter is not resolved before any payment that is the subject of a disagreement
would be due (in the absence of such disagreement) or any Tax Return reflecting the subject of a disagreement is due, the undisputed
amount shall be paid on the date prescribed by this Agreement and such Tax Return may be filed as prepared by the Parent Corporation,
subject to adjustment or amendment upon resolution. The Parent Corporation and the Disputing Party shall each bear its own
costs and expenses of such proceeding, unless (i)the Expert adopts such Disputing Party’s position, in which case the Parent
Corporation shall reimburse such Disputing Party for any reasonable out-of-pocket costs and expenses in such proceeding, or (ii)
the Expert adopts the Parent Corporation’s position, in which case such Disputing Party shall reimburse the Parent Corporation
for any reasonable out-of-pocket costs and expenses in such proceeding. Any dispute as to whether a dispute is a Reconciliation
Dispute within the meaning of this Section 7,10 shall be decided by the Expert. The Expert shall finally determine any Reconciliation
Dispute and the determinations of the Expert pursuant to this Section 7,10 shall be binding on the Parent Corporation and
its Subsidiaries and the Disputing Party and may be entered and enforced in any court having jurisdiction.

 

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Section 7.11
Admission of the Parent Corporation into a Consolidated Group; Transfers of Corporate Assets.

 

(a) If
the Parent Corporation becomes a member of an affiliated or consolidated group of corporations that files a consolidated income
Tax Return pursuant to Sections 1501 et seq. of the Code or any corresponding provisions of U.S. state or local Tax law,
then: (i) the provisions of this Agreement shall be applied with respect to the group as a whole; and (ii) Tax Benefit Payments,
Early Termination Payments and other applicable items hereunder shall be computed with reference to the consolidated taxable income
of the group as a whole to the extent that any applicable Designated Tax Attributes can be used against such consolidated taxable
income of the group as a whole.

 

(b) If
the Parent Corporation (or any other entity that is obligated to make a Tax Benefit Payment or Early Termination Payment hereunder)
or any of its direct or indirect Subsidiaries (a “Transferor”) transfers one or more Reference Assets to a corporation
(or a Person classified as a corporation for U.S. federal income Tax purposes) with which the Transferor does not file a consolidated
Tax Return pursuant to Section 1501 of the Code, the Transferor, for purposes of calculating the amount of any Tax Benefit Payment
or Early Termination Payment (e.g., calculating the gross income of the entity and determining the Realized Tax Benefit of such
entity) due hereunder, shall be treated as having disposed of such Reference Assets in a fully taxable transaction on the date
of such contribution. The consideration deemed to be received by the Transferor shall be equal to the fair market value of the
transferred Reference Assets, plus (i) the amount of debt to which any such Reference Asset is subject, in the case of a transfer
of an encumbered Reference Asset or (ii) the amount of debt allocated to any such Reference Asset, in the case of a contribution
of a partnership interest. For purposes of this Section 7.11(b), a transfer of a partnership interest shall be treated as
a transfer of the Transferor’s share of each of the assets and liabilities of that partnership.

 

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Section 7.12 Confidentiality.

 

(a)
Each TRA Holder and each of its assignees acknowledges and agrees that the information of the Parent Corporation Group is confidential
and, except in the course of performing any duties as necessary for the Parent Corporation Group and its Affiliates, as required
by law or legal process or to enforce the terms of this Agreement, such person shall keep and retain in the strictest confidence
and not disclose to any Person any confidential matters, acquired pursuant to this Agreement, of the Parent Corporation
Group and its Affiliates and successors or the TRA Holders, learned by any TRA Holder heretofore or hereafter. This Section
7,12 shall not apply to (i) any information that has been made publicly available by the Parent Corporation or any of its Affiliates,
becomes public knowledge (except as a result of an act of a TRA Holder in violation of this Agreement) or is generally known to
the business community and (ii) the disclosure of information (A) as may be proper in the course of performing such TRA Holder’s
obligations, or monitoring or enforcing such TRA Holder’s rights, under this Agreement, (B) as part of such TRA Holder’s
normal reporting, rating or review procedure (including normal credit rating and pricing process), or in connection with such TRA
Holder’s or such TRA Holder’s Affiliates’ normal fund raising, marketing, informational or reporting activities,
or to such TRA Holder’s (or any of its Affiliates’) Affiliates, auditors, accountants, attorneys or other agents, (C)
to any bona fide prospective assignee of such TRA Holder’s rights under this Agreement, or prospective merger or other business
combination partner of such TRA Holder, provided that such assignee or merger partner agrees to be bound by the provisions
of this Section 7,12, (D) as is required to be disclosed by order of a court of competent jurisdiction, administrative body
or governmental body, or by subpoena, summons or legal process, or by law, rule or regulation; provided that any TRA Holder
required to make any such disclosure to the extent legally permissible shall provide the Parent Corporation prompt notice of such
disclosure, or to regulatory authorities or similar examiners conducting regulatory reviews or examinations (without any such notice
to the Parent Corporation), or (E) to the extent necessary for a TRA Holder to prepare and file its Tax Returns, to respond to
any inquiries regarding the same from any Taxing Authority or to prosecute or defend any Tax Proceeding with respect to such returns.

 

(b) If a TRA Holder
or an assignee commits a breach, or threatens to commit a breach, of any of the provisions of this Section 7,12, the Parent
Corporation shall have the right and remedy to have the provisions of this Section 7,12 specifically enforced by injunctive
relief or otherwise by any court of competent jurisdiction without the need to post any bond or other security, it being acknowledged
and agreed that any such breach or threatened breach shall cause irreparable injury to the Parent Corporation or any of its Subsidiaries
or the TRA Holders and the accounts and funds managed by the Parent Corporation and that money damages alone shall not provide
an adequate remedy to such Persons. Such rights and remedies shall be in addition to, and not in lieu of, any other rights and
remedies available at law or in equity.

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF, the Parent Corporation
and the TRA Holders have duly executed this Agreement as of the date first written above.

 

	 	PARENT CORPORATION:
	 	 	 	 
	 	FinTech Acquisition Corp. Ill Parent Corp.
	 	 	 	 
	 	By:	/s/ James J. McEntee, III
	 	 	Name:	James J. McEntee, III
	 	 	Title:	President and Chif Financial Officer
	 	 	 	 
	 	SELLER:
	 	 	 	 
	 	GTCR-Ultra Holdings, LLC
	 	 	 	 
	 	By:	/s/ Jeffrey Hack
	 	 	Name: 	Jeffrey Hack
	 	 	Title:	Chief Executive Officer

 

	 	BLOCKER SELLER:
	 	 	 	 
	 	GTCR Fund XI/C LP
	 	 	 	 
	 	By:	GTCR Partners XI/A&C LP
	 	Its:	General Partner
	 	 	 	 
	 	By:	GTCR Investment XI LLC
	 	Its:	General Partner
	 	 	 	 
	 	By:	/s/ Aaron Cohen
	 	 	Name: 	Aaron Cohen
	 	 	Title:	Authorized Signatory

 

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	 	BLOCKER:
	 	 	 	 
	 	GTCR/Ultra Blocker, Inc.
	 	 	 	 
	 	By:	/s/ Aaron Cohen
	 	 	Name:	Aaron Cohen
	 	 	Title:	Vice President & Treasurer
	 	 	 	 
	 	COMPANY:
	 	 	 	 
	 	GTCR-Ultra Holdings II, LLC
	 	 	 	 
	 	By:	/s/ Jeffrey Hack
	 	 	Name: 	Jeffrey Hack
	 	 	Title:	Chief Executive Officer

  

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Schedule A

 

In accordance with Section 3,1,
the entire Net Tax Benefit for each Taxable Year shall be paid within five (5) Business Days after a Tax Benefit Schedule for such
Taxable Year becomes final in accordance with Section 2.3(a).

 

The Net Tax Benefit shall be allocated among
the TRA Holders in accordance with their relative percentages, as set forth below:

 

Seller- 85.5328% 

Blocker Seller - 14.4672%

 

 

21

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