Document:

Exhibit 10.4

 

AMENDMENT TO LETTER AGREEMENT

 

This Amendment (this “Amendment”),
dated as of November 22, 2022, by and among Tailwind Acquisition Corp., a Delaware corporation (the “Company”), Tailwind
Sponsor LLC, a Delaware limited liability company (“Sponsor”), and each of the undersigned (each, an “Insider”
and, collectively, the “Insiders”) is to that certain Letter Agreement, dated as of September 3, 2020 (the “Letter
Agreement”), by and among the Company, the Sponsor and the Insiders. Capitalized terms used but not defined herein shall have
the meanings ascribed to such terms in the Letter Agreement.

 

RECITALS

 

WHEREAS, on August 5,
2022, the Company entered into a Business Combination Agreement (as it may be amended, supplemented or otherwise modified from time to
time, the “Business Combination Agreement”) with Compass Merger Sub, Inc., a Delaware corporation, and Nuburu, Inc.,
a Delaware corporation (“Nuburu”);

 

WHEREAS, Section 12
of the Letter Agreement provides that the Letter Agreement may be amended only by an agreement in writing signed by the Company, the Sponsor
and the Insiders; and

 

WHEREAS, each of the
Company, the Sponsor and the Insiders desire to amend, and do hereby amend, the Letter Agreement as set forth in this Amendment to be
effective as of immediately following the consummation of the business combination pursuant to the Business Combination Agreement (the
 “Effective Time”).

 

NOW, THEREFORE, in
consideration of the foregoing recitals, the agreements set forth in this Amendment, and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the Company, the Sponsor and the Insiders, intending to be legally bound, hereby agree
as follows:

 

		1.	Timing of Effectiveness of Amendment. This Amendment is subject to and conditioned upon the occurrence
of the Effective Time and shall be effective only as of immediately following the Effective Time.

 

		2.	Amendments to the Letter Agreement.

 

(a)            The
following definition is amended and replaced in its entirety in Section 1 of the Letter Agreement:

 

“(ii) “Founder
Shares” shall mean, (x) prior to the occurrence of the Business Combination with Nuburu, the 8,625,500 shares of Class B
Common Stock of the Company, par value $0.0001 per share, outstanding prior to the consummation of the Public Offering and (y) on
and after the occurrence of the Business Combination with Nuburu, (A) the shares referred to in clause (x) of this definition,
(B) the shares of New SPAC Common Stock (as defined in the Business Combination Agreement, “New SPAC Common Stock”) into
which the shares referred to in clause (x) of this definition will automatically convert in connection with the Business Combination
with Nuburu and (C) any shares of New SPAC Series A Preferred Stock (as defined in the Business Combination Agreement) to which
the Sponsor or the Insiders may be entitled to receive by virtue of the Preferred Stock Issuance (as defined in the Business Combination
Agreement).

 

    

     

    

 

(b)            The
following definition is added to Section 1 of the Letter Agreement:

 

“(ix)“Sponsor Loan”
shall mean that certain indebtedness incurred or to be incurred by the SPAC up to an aggregate principal amount of $750,000 in connection
with the SPAC shareholder approval of the amendment to the SPAC’s certificate of incorporation to extend the date by which the SPAC
has to consummate a business combination, in the form of one or more non-interest bearing, unsecured promissory notes issued by the SPAC
to the Sponsor.”

 

(x) “Sponsor Debt”
shall mean indebtedness incurred or to be incurred by the Sponsor to make the Sponsor Loan.”

 

(c)            Sections
5(a) and (c) of the Letter Agreement are hereby amended and restated in their entirety as follows:

 

“5.             Lock-up:
Transfer Restrictions.

 

(a)            The
Sponsor and the Insiders agree that they shall not Transfer any Founder Shares (the “Founder Shares Lock-up”) (i) if
the completion of an initial Business Combination occurs prior to March 30, 2023, until the earliest of (A) nine (9) months
following the completion of an initial Business Combination and (B) September 30, 2023 and (ii) if the completion of an
initial Business Combination occurs on or after March 30, 2023, until six (6) months following the completion of an initial
Business Combination.

 

(c)            Notwithstanding
the provisions set forth in paragraphs 5(a) and (b), Transfers of the Founder Shares, Private Placement Warrants and
Common Stock underlying the Private Placement Warrants are permitted (a) to the Company’s officers or directors, any affiliates
or family members of any of the Company’s officers or directors, any members or partners of the Sponsor or their affiliates, any
affiliates of the Sponsor, or any employees of such affiliates; (b) solely with respect to the shares of New SPAC Series A Preferred
Stock (as defined in the Business Combination Agreement) to which the Sponsor or the Insiders may be entitled to receive by virtue of
the Preferred Stock Issuance (as defined in the Business Combination Agreement) or New SPAC Common Stock issued or issuable upon conversion
thereof, to the extent (i) the proceeds from any such Transfer do not exceed, when combined with any proceeds from any Transfers
contemplated by (ii) below, the lesser of (x) $1,500,000 and (y) an amount equal to two (2) multiplied by the aggregate
outstanding amount of the Sponsor Loan outstanding prior to the closing of a Business Combination, in the aggregate and are used by the
Sponsor to repay the Sponsor Debt or (ii) any such Transfer (not to exceed, when combined with any proceeds from any Transfers contemplated
by (i) above, the lesser of (x) $1,500,000 and (y) an amount equal to two (2) multiplied by the aggregate amount of
the Sponsor Loan outstanding prior to the closing of a Business Combination, in the aggregate) itself constitutes repayment of the Sponsor
Debt pursuant to the terms thereof; (c) in the case of an individual, by gift to a member of one of the individual’s immediate
family or to a trust, the beneficiary of which is a member of the individual’s immediate family, an affiliate of such person or
to a charitable organization; (d) in the case of an individual, by virtue of laws of descent and distribution upon death of the individual;(e) in
the case of an individual, pursuant to a qualified domestic relations order; (f) by private sales or transfers made in connection
with the consummation of a Business Combination at prices no greater than the price at which the Founder Shares, Private Placement Warrants
or Class A Common Stock, as applicable, were originally purchased; (g) by virtue of the laws of Delaware or the Sponsor’s
organizational documents upon liquidation or dissolution of the Sponsor; (h) to the Company for no value for cancellation in connection
with the consummation of an initial Business Combination; (i) in the event of the Company’s liquidation prior to the completion
of an initial Business Combination; or (j) in the event of the Company’s completion of a liquidation, merger, share exchange
or other similar transaction which results in all of the Company’s Public Stockholders having the right to exchange their Common
Stock for cash, securities or other property subsequent to the completion of an initial Business Combination; provided, however, that
in the case of clauses (a) and (c) through (g) these permitted transferees must enter into a written agreement agreeing
to be bound by these transfer restrictions.”

 

    - 2 -

     

    

 

		3.	References to the Letter Agreement. After giving effect to this Amendment, unless the context otherwise
requires, each reference in the Letter Agreement to “this Agreement,” “hereof,” “hereunder,” “herein,”
or words of like import referring to the Letter Agreement shall refer to the Letter Agreement as amended by this Amendment. Except as
specifically set forth above, the Letter Agreement shall remain unaltered and in full force and effect and the respective terms, conditions
or covenants thereof are hereby in all respects ratified and confirmed. Upon the execution and delivery of this Amendment by the parties
hereto, (a) this Amendment shall become effective immediately following the Effective Time, and (b) this Amendment shall be
incorporated in, and become a part of, the Letter Agreement as set forth herein for all purposes of the Letter Agreement.

 

		4.	Other Miscellaneous Provisions. Sections 14, 15 and 16 of the Letter Agreement shall apply to this
Amendment as if set forth herein, mutatis mutandis.

 

[Signatures Follow]

 

    - 3 -

     

    

 

IN WITNESS WHEREOF, the
parties have caused this Amendment to be duly executed as of the
date first written above.

 

	 	SPONSOR:
	 	 
	 	TAILWIND SPONSOR LLC
	 	 
	 	 
	 	By:	/s/ Philip Krim             
	 	Name: Philip Krim
	 	Title: Manager
	 	 
	 	 
	 	COMPANY:
	 	 
	 	TAILWIND ACQUISITION CORP.
	 	 
	 	 
	 	By:	/s/ Chris Hollod
	 	Name: Chris Hollod
	 	Title: Chief Executive Officer

 

[Signature Page to
Amendment to Letter Agreement] 

 

     

     

    

 

	 	Insiders:
	 	 
	 	 
	 	/s/ Philip Krim
	 	Philip Krim
	 	 
	 	 
	 	/s/ Chris Hollod
	 	Chris Hollod
	 	 
	 	 
	 	/s/ Matt Eby
	 	Matt Eby
	 	 
	 	 
	 	/s/ Alan Sheriff
	 	Alan Sheriff
	 	 
	 	 
	 	/s/ Wisdom Lu
	 	Wisdom Lu
	 	 
	 	 
	 	/s/ Neha Parikh
	 	Neha Parikh
	 	 
	 	 
	 	/s/ Will Quist
	 	Will Quist

 

[Signature Page to Amendment to Letter Agreement]EX-4.3

 Exhibit 4.3 

DESCRIPTION OF SECURITIES REGISTERED 

UNDER SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934 

The following is a summary of the shares (the “Shares”) of the SPDR® Gold MiniShares® Trust (“GLDM”), a series of the World Gold Trust (the “Trust”), which is the only class of securities of GLDM that is registered under Section 12 of the Securities
Exchange Act of 1934. 
 GENERAL 
 The Trust was formed
as a Delaware statutory trust on August 27, 2014 and consists of multiple series (each, a “Series”). Each Series issues common units of beneficial interest that represent units of fractional undivided beneficial interest in and
ownership of such Series. GLDM is the only operational Series. The Trust is sponsored by WGC USA Asset Management Company, LLC (the “Sponsor”). 

Each Share represents an equal beneficial interest in the net assets of GLDM, and each holder of the Shares (the “Shareholder”) is entitled to
receive such holder’s pro rata share of distributions of income and capital gains, if any, made with respect to GLDM. Upon redemption of the Shares, the applicable Shareholder shall be paid solely out of the funds and property of GLDM. All
Shares are fully paid and non-assessable. 
 SHARE SPLITS 

If the Sponsor believes that the per Share price in the secondary market for Shares has fallen outside a desirable trading price range, the Sponsor may cause
GLDM to declare a split or reverse split in the number of Shares outstanding and to make a corresponding change in the number of Shares constituting a Creation Unit (100,000 Shares). 

DISTRIBUTIONS 
 No Share shall have any priority or
preference over any other Share with respect to dividends or distributions of the Trust or otherwise. All dividends and distributions shall be made ratably among all Shareholders from the assets of GLDM according to the number of Shares held of
record by such Shareholders on the record date for any dividend or distribution or on the date of termination of the Trust, as the case may be. 
 VOTING
AND APPROVALS 
 Under the Fourth Amended and Restated Agreement and Declaration of Trust dated as of April 16, 2018, between the Sponsor and the
Delaware Trust Company, Shareholders have no voting rights except as the Sponsor may consider desirable and so authorize in its sole discretion. 
 THE
SECURITIES DEPOSITORY; BOOK-ENTRY-ONLY SYSTEM; GLOBAL SECURITY 
 The Depository Trust Company (“DTC”) acts as securities depository for the
Shares. DTC is a limited-purpose trust company organized under the laws of the State of New York, a member of the Federal Reserve System, a “clearing corporation” within the meaning of the New York Uniform Commercial Code, and a
“clearing agency” registered pursuant to the provisions of Section 17A of the Exchange Act. DTC was created to hold securities of DTC Participants and to facilitate the clearance and settlement of transactions in such securities among
the DTC Participants through electronic book-entry changes. This eliminates the need for physical movement of securities certificates. DTC Participants include securities brokers and dealers, banks, trust companies, clearing corporations, and
certain other organizations, some of whom (and/or their representatives) own DTC. Access to the DTC system is also available to others such as banks, brokers, dealers and trust companies that clear through or maintain a custodial relationship with a
DTC Participant, either directly or indirectly. DTC is expected to agree with and represent to the DTC Participants that it will administer its Book-Entry System in accordance with its rules and bylaws and the requirements of law. 

 Individual certificates will not be issued for the Shares. Instead, one or more global certificates will be
signed by the BNY Mellon Asset Servicing, a division of The Bank of New York Mellon, as the administrator of the Trust (the “Administrator”) and the Sponsor on behalf of GLDM, registered in the name of Cede & Co., as nominee for
DTC, and deposited with the Administrator on behalf of DTC. The global certificates will evidence all of the Shares outstanding at any time. The representations, undertakings and agreements made on the part of GLDM in the global certificates are
made and intended for the purpose of binding only GLDM and not the Administrator or the Sponsor individually. 
 Upon the settlement date of any creation,
transfer or redemption of Shares, DTC will credit or debit, on its book-entry registration and transfer system, the amount of the Shares so created, transferred or redeemed to the accounts of the appropriate DTC Participants. The Administrator and
the Authorized Participants will designate the accounts to be credited and charged in the case of creation or redemption of Shares. 
 Beneficial ownership
of the Shares will be limited to DTC Participants, Indirect Participants and persons holding interests through DTC Participants and Indirect Participants. Owners of beneficial interests in the Shares will be shown on, and the transfer of ownership
will be effected only through, records maintained by DTC (with respect to DTC Participants), the records of DTC Participants (with respect to Indirect Participants), and the records of Indirect Participants (with respect to Shareholders that are not
DTC Participants or Indirect Participants). Shareholders are expected to receive from or through the DTC Participant maintaining the account through which the Shareholder has purchased their Shares a written confirmation relating to such purchase.

 Shareholders that are not DTC Participants may transfer the Shares through DTC by instructing the DTC Participant or Indirect Participant through which
the Shareholders hold their Shares to transfer the Shares. Shareholders that are DTC Participants may transfer the Shares by instructing DTC in accordance with the rules of DTC. Transfers are made in accordance with standard securities industry
practice. 
 DTC may decide to discontinue providing its service with respect to Creation Units and/or the Shares by giving notice to the Administrator and
the Sponsor. Under such circumstances, the Administrator and the Sponsor will either find a replacement for DTC to perform its functions at a comparable cost or, if a replacement is unavailable, terminate GLDM. 

The rights of the Shareholders generally must be exercised by DTC Participants acting on their behalf in accordance with the rules and procedures of DTC.
Because the Shares can only be held in book-entry form through DTC and DTC Participants, investors must rely on DTC, DTC Participants and any other financial intermediary through which they hold the Shares to receive the benefits and exercise the
rights described in this section. Investors should consult with their broker or financial institution to find out about procedures and requirements for securities held in book-entry form through DTC.

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