Document:

Exhibit 10.1

 

Second
AMENDMENT TO Preferred Stock Sale Option AGREEMENT

 

This Second Amendment to Preferred
Stock Sale (this “Amendment”), dated as of November 28, 2022, by and among Tailwind Acquisition Corp., a Delaware
corporation (the “Company”), and the other signatories hereto (together with the Company, the “Parties”),
is to that certain Preferred Stock Sale Option Agreement, dated as of August 5, 2022 (as amended pursuant to the Amendment to Preferred
Stock Sale Option Agreement dated November 22, 2022, the “Sale Option Agreement”), by and among the Company and
the Holders (as defined therein). Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the
Sale Option Agreement.

 

RECITALS

 

WHEREAS,
Section 8.12 of the Registration Rights Agreement, as incorporated into Section 5 of the Sale Option Agreement, provides that
the Sale Option Agreement may be amended prior to the Effective Time only by an agreement in writing signed by the Company and the Holders;

 

WHEREAS,
the Holders, together with certain other parties, expect to be party to a Rule 10b5-1 Sales Plan (the “Sales Plan”)
with Tigress Financial Partners LLC (“Tigress”) pursuant to which the Holders and such other parties will authorize
Tigress to sell shares of Stock (as defined in the Sales Plan), subject to the conditions and limitations set forth in the Sales Plan;
and

 

WHEREAS,
each of the Parties desires to amend, and does hereby amend, the Sale Option Agreement as set forth herein.

 

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 Parties, intending to be legally bound, hereby agree
as follows:

 

		1.	Amendments to the Sale Option Agreement.

 

(a)            A
new Section 8 is hereby inserted into the Sale Option Agreement to read as follows:

 

“8.           Transfer
Restrictions

 

(a)           Except
as permitted by Section 8(b), each Holder shall not Transfer any Restricted Securities beneficially owned or owned of record by such
Holder until the end of the Lock-up Period.

 

(b)           The
provisions of Section 8(a) shall not apply to:

 

(i)            the
conversion of Shares into securities or other property in accordance with the terms thereof;

 

(ii)          Transfers
as a bona fide gift;

 

    

     

    

 

(iii)         Transfers
to a trust, or other entity formed for estate planning purposes for the primary benefit of the spouse, domestic partner, parent, sibling,
child or grandchild of the undersigned or any other person with whom the undersigned has a relationship by blood, marriage or adoption
not more remote than first cousin;

 

(iv)          Transfers
by will or intestate succession upon the death of the undersigned;

 

(v)           Transfers
pursuant to a qualified domestic order or in connection with a divorce settlement;

 

(vi)          if
the undersigned is a corporation, partnership (whether general, limited or otherwise), limited liability company, trust or other business
entity, (A) Transfers to another corporation, partnership, limited liability company, trust or other business entity that controls,
is controlled by or is under common control or management with the undersigned, and (B) distributions to partners, limited liability
company members or stockholders of the undersigned;

 

(vii)        Transfers
to the Company’s officers, directors or their affiliates;

 

(viii)       pledges
of Restricted Securities as security or collateral in connection with any borrowing or the incurrence of any indebtedness by any Holder;
provided, however, that such borrowing or incurrence of indebtedness is secured by a portfolio of assets or equity interests issued by
multiple issuers;

 

(ix)         Transfers
after (I) the announcement of a bona fide tender or exchange offer by a person other than (A) the Holders or (B) an affiliate
of the Holders where such affiliation does not arise with or through the Company with respect to the Shares or Common Stock or (II) a
public announcement is made by the Company or a person controlled by the Company with respect to a bona fide merger, acquisition, reorganization,
recapitalization or comparable transaction affecting the securities of the Company as a result of which the Shares or Common Stock will
be exchanged for or converted into shares of another company; and

 

(x)           the
establishment of a trading plan pursuant to Rule 10b5-1 promulgated under the Exchange Act; provided, however, that such plan does
not provide for the Transfer of Restricted Securities during the Lock-up Period;

 

provided, however, that in the case
of any Transfer pursuant to paragraphs (ii) through (vii), each donee, distributee or other transferee shall agree in writing, in
form and substance reasonably satisfactory to the Company, to be bound by the provisions of this Agreement.

 

(c)            For
purposes of this Section 8:

 

(i)) “Lock-up
Period” shall mean with respect to a Holder the period beginning on the Closing Date and ending on the earliest of (A) December 29,
2023, (B) the date that the aggregate number of shares of Stock (as defined in the Sales Plan) sold under the Sales Plan results
in no remaining shares of Stock available for Tigress to sell with respect to such Holder and (C) the termination of the Sales Plan
with respect to such Holder.

 

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(ii) “Restricted
Securities” shall mean with respect to a Holder and its respective Permitted Transferees:

 

(A) any shares
of New SPAC Series A Preferred Stock that was acquired by such Holder pursuant to the Company’s exercise of the Option; and.

 

(B) any shares
of Common Stock to be issued to such Holder as a result of any conversion of any shares of New SPAC Series A Preferred Stock referred
to in clause (A) above).

 

(iv) “Sales
Plan” shall mean that certain Rule 10b5-1 Sales Plan that the Holders and other persons expect to enter into with Tigress
pursuant to which the Holders will authorize Tigress to sell shares of Stock, subject to the conditions and limitations set forth in the
Sales Plan.

 

(v) “Tigress”
shall mean Tigress Financial Partners LLC.

 

(b)            A
new Section 9 is hereby inserted into the Sale Option Agreement to read as follows:

 

“9.           Board
Approval. The board of directors of the Company, or an appropriate committee of “non-employee directors” (as defined
in Rule 16b-3 of the Securities Exchange Act of 1934, as amended, the “Exchange Act”) thereof, shall adopt one or
more resolutions consistent with the interpretive guidance of the Securities and Exchange Commission designed to cause each
acquisition of shares of New SPAC Series A Preferred Stock by the Holders pursuant to this Agreement to be an exempt
transaction for purposes of Section 16(b) of the Exchange Act pursuant to Rule 16b-3
thereunder to the extent consistent with applicable law.”

 

		2.	References to the Sale Option Agreement. After giving effect to this Amendment, unless the context
otherwise requires, each reference in the Sale Option Agreement to “this Agreement,” “hereof,” “hereunder,”
 “herein,” or words of like import referring to the Sale Option Agreement shall refer to the Sale Option Agreement as amended
by this Amendment. Except as specifically set forth above, the Sale Option 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 immediately effective, and (b) this Amendment shall
be incorporated in, and become a part of, the Sale Option Agreement as set forth herein for all purposes of the Sale Option Agreement.

 

		3.	Other Miscellaneous Provisions. Sections 8.1, 8.2, 8.3, 8.4, 8.5, 8.6, 8.7, 8.8, 8.12, 8.13 and
8.15 of the Registration Rights Agreement, as incorporated through Section 5 of the Sale Option Agreement, shall apply to this Amendment
as if set forth herein, mutatis mutandis.

 

[Signatures Follow]

 

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

 

	 	COMPANY:
	 	 
	 	
    TAILWIND ACQUISITION CORP.

    

	 	 
	 	 
	 	By:	/s/ Chris Hollod
	 	Name: 	Chris Hollod
	 	Title: 	Chief Executive Officer

 

[Signature Page to Second Amendment to Preferred Stock Sale Option Agreement]

 

    

     

    

 

	 	HOLDERS:
	 	 
	 	Anzu Nuburu LLC
	 	 
	 	 
	 	By:	/s/ David Seldin
	 	Print Name:	David Seldin
	 	Title:	Manager
	 	 	 
	 	Anzu Nuburu II LLC
	 	 
	 	 
	 	By:	 /s/ David Seldin
	 	Print Name:	David Seldin
	 	Title:	Manager
	 	 	 
	 	Anzu Nuburu III LLC
	 	 
	 	 
	 	By:	 /s/ David Seldin
	 	Print Name:	David Seldin
	 	Title:	Manager
	 	 	 
	 	Anzu Nuburu V LLC
	 	 
	 	 
	 	By:	 /s/ David Seldin
	 	Print Name:	David Seldin
	 	Title:	Manager

 

[Signature Page to Second Amendment to Preferred Stock Sale Option Agreement]Exhibit 10.2 

 

November 28, 2022

 

Anzu Partners LLC 

12160 Race Track Road 

Suite 250 

Tampa, FL 33626 

Attn: Daniel J. Hirsch

 

Re: Nuburu, Inc. - Board Designees

 

Ladies and Gentlemen:

 

Reference is made to that certain Business Combination
Agreement dated as of August 5, 2022 (the “BCA”) among Tailwind Acquisition Corp. (“Tailwind”),
Compass Merger Sub, Inc. and Nuburu, Inc. (the “Company”). Capitalized terms used but not defined herein
shall have the meanings assigned to them in the BCA.

 

In consideration of the mutual promises and covenants
set forth herein, Tailwind, the Company and Anzu Partners LLC (“Anzu”) hereby agree as follows:

 

		1.	Anzu Designee Post-Closing.

 

(a)            Upon
the Effective Time, Tailwind and the Company shall use their respective reasonable best efforts to cause Daniel J. Hirsch (or, if Daniel
J. Hirsch is unable to serve as a director of Tailwind at the Effective Time, then another representative designated by Anzu in writing
and reasonably acceptable to the Company) to be a member of the SPAC Board as a Class III director pursuant to Section 2.05(b) and
Section 7.15(a) of the BCA (such representative, the “Anzu Representative”).

 

(b)            Subject
to Section 1(c) hereof, following the Effective Time, in connection with any vacancy caused by the departure of the Anzu Representative
from the SPAC Board (unless Anzu declines in writing to designate a successor nominee), Tailwind shall cause such vacancy to be filled
by one designee of Anzu (to be selected by Anzu, with notice of such selection to be delivered in writing to Tailwind, and reasonably
acceptable to Tailwind).

 

(c)            Tailwind’s
obligations pursuant to Section 1(b) shall automatically terminate at the close of business on the day on which the initial
term of the Class III directors ends.

 

		2.	Representations and Warranties. Each of the parties hereto hereby represents and warrants to each of the other parties hereto
as follows:

 

(a)            The
execution and delivery by such party of this letter agreement does not, and the performance of this letter agreement by such party will
not, (i) conflict with or violate the governing documents of such party, (ii) conflict with or violate any law applicable to
such party, (iii) result in any breach of, or constitute a default (or an event which, with notice or lapse of time or both, would
become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, or result in the creation
of a lien on any property or asset of such party pursuant to, any material agreement to which such party is bound, or (iv) require
any consent, approval, authorization or permit of, or filing with or notification to, any governmental authority, except, with respect
to clauses (ii), (iii) and (iv), for any such conflicts, violations, breaches, defaults, consents, approvals, authorizations, permits
or filings or other occurrences that, individually or in the aggregate, are not reasonably expected to prevent, materially delay or materially
impede the performance by such party of its obligations under this letter agreement.

 

    1 

     

    

 

(b)            Such
party has all necessary power and authority to execute and deliver this letter agreement, to perform its obligations hereunder and to
consummate the transactions contemplated hereby. The execution and delivery by such party of this letter agreement, the performance by
such party of its obligations hereunder and the consummation by such party of the transactions contemplated hereby, have been duly and
validly authorized by all necessary corporate action and no other corporate actions on the part of such party are necessary to authorize
this letter agreement or to consummate the transactions contemplated hereby. This letter agreement has been duly and validly executed
and delivered by such party and, assuming due authorization, execution and delivery by the other parties hereto, constitutes a legal,
valid and binding obligation of such party, enforceable against such party in accordance with its terms except as such enforceability
may be limited by bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or similar laws relating to or affecting the
enforcement of creditors’ rights in general and by general principles of equity.

 

		3.	Miscellaneous.

 

(a)            Sections
10.03, 10.06, 10.07, 10.08 and 10.09 of the BCA shall apply to this letter agreement as if set forth herein, mutatis mutandis.

 

(b)            For
clarity, as between Tailwind and the Company, Tailwind confirm their consent for each other to enter into this letter agreement, notwithstanding
any provision of Section 6.01 or Section 6.02 of the BCA that may be interpreted to the contrary.

 

[Signature page follows]

 

    2 

     

    

 

	Very truly yours,	 
	 	 	 
	NUBURU, INC.	 
	 	 	 
	By:	/s/ Mark Zediker	 
	Name:	 Mark Zediker	 
	Title:	Chief Executive Officer	 
	 	 	 
	Agreed and Accepted:	 
	 	 
	TAILWIND ACQUISITION CORP.	 
	 	 
	By:	/s/ Chris Hollod	 
	Name:	Chris Hollod	 
	Title:	Chief Executive Officer	 
	 	 	 
	ANZU PARTNERS LLC	 
	 	 
	By:	/s/ David Seldin	 
	Name:	David Seldin	 
	Title:	Manager	 

  

[Signature
Page to Letter Agreement (Board Designee)]

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