Document:

EX-10.8

 Exhibit 10.8 

HUDSON EXECUTIVE INVESTMENT CORP. 

570 Lexington Avenue, 35th Floor 

New York, NY 10022 

[            ], 2020 

Hudson Executive Capital LP 
 570 Lexington Avenue, 35th Floor 
 New York, NY 10022

HEC Sponsor LLC 
 570 Lexington Avenue, 35th Floor 
 New York, NY 10022 

Re:    Administrative Services Agreement 

Ladies and Gentlemen: 
 This letter agreement
(this “Agreement”) by and among Hudson Executive Investment Corp. (the “Company”), HEC Sponsor LLC (the “Sponsor”) and Hudson Executive Capital LP, an affiliate of the Sponsor
(“HEC”), dated as of the date hereof, will confirm our agreement that, commencing on the date the securities of the Company are first listed on The Nasdaq Capital Market (the “Listing Date”), pursuant
to a Registration Statement on Form S-1 and prospectus filed with the U.S. Securities and Exchange Commission (the “Registration Statement”) and continuing until the earlier of the
consummation by the Company of an initial business combination or the Company’s liquidation (in each case as described in the Registration Statement) (such earlier date hereinafter referred to as the “Termination Date”):

 1.    HEC shall make available, or cause to be made available, to the Company, at 570 Lexington Avenue, 35th Floor, New York, NY 10022 (or any successor location), office space and secretarial and administrative services as may be reasonably required by the Company. In exchange therefor, the Company shall
pay HEC $10,000 per month on the Listing Date and continuing monthly thereafter until the Termination Date; and 

2.    The Sponsor and HEC each hereby irrevocably waives any and all right, title, interest, causes of action and claims
of any kind as a result of, or arising out of, this Agreement (each, a “Claim”) in or to, and any and all right to seek payment of any amounts due to it out of, the trust account established for the benefit of the public
stockholders of the Company and into which substantially all of the proceeds of the Company’s initial public offering will be deposited (the “Trust Account”), and hereby irrevocably waives any Claim it may have in the
future as a result of, or arising out of, this Agreement, which Claim would reduce, encumber or otherwise adversely affect the Trust Account or any monies or other assets in the Trust Account, and further agrees not to seek recourse, reimbursement,
payment or satisfaction of any Claim against the Trust Account or any monies or other assets in the Trust Account for any reason whatsoever. 

This Agreement constitutes the entire agreement and understanding of the parties hereto in respect of its subject matter and supersedes all
prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. 

This Agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed by the parties
hereto. 
 No party hereto may assign either this Agreement or any of its rights, interests, or obligations hereunder without the prior
written approval of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest or title to the purported assignee. 

This Agreement constitutes the entire relationship of the parties hereto, and any litigation between the parties (whether grounded in
contract, tort, statute, law or equity) shall be governed by, construed in accordance with, and interpreted pursuant to the laws of the State of New York. 

[Signature Page Follows]

 
			
	Very truly yours,
	
	HUDSON EXECUTIVE INVESTMENT CORP.
		
	By:	 	  

		 	Name: Douglas G. Bergeron
		 	Title:   Chief Executive Officer

  

			
	AGREED AND ACCEPTED BY:
	
	HUDSON EXECUTIVE CAPITAL LP
		
	By:	 	  

		 	Name: Douglas G. Bergeron
		 	Title:   Managing Partner
	
	HEC SPONSOR LLC
		
	By:	 	  

		 	Name: Douglas G. Bergeron
		 	Title:   Manager

 [Signature Page to Administrative Services Agreement]EX-10.1

 Exhibit 10.1 

AMENDMENT TO EMPLOYMENT AGREEMENT 

This AMENDMENT TO EMPLOYMENT AGREEMENT (the “Amendment”) is made, entered and effective as of this 21st day of May 2020 (the “Effective Date), by and between Air Products and Chemicals, Inc. (together with its affiliates and subsidiaries, the “Company”), and
Seifollah Ghasemi (the “Executive”). 
 W I T N E S E T H: 

WHEREAS, the Company and the Executive entered into an Amended and Restated Employment Agreement effective as of October 1, 2017 (the
“Employment Agreement”); and 
 WHEREAS, the Company and the Executive wish to amend the Employment Agreement to extend the
Term (as defined in the Employment Agreement) so that the Term shall continue until September 30, 2025, rather than ending on September 30, 2022. 

NOW, THEREFORE, in accordance with Section 21 of the Employment Agreement, the Company and the Executive hereby agree as follows,
effective as of the Effective Date: 
 1.    Section 1(aa) of the Employment Agreement (“Definitions”) is
amended to provide in its entirety as follows: “‘Term’ is the period from the Start Date through September 30, 2025.” 

2.    Section 3 of the Employment Agreement (“Term”) is amended to provide in its entirety as follows: 

“The employment of the Executive by the Company as provided in this Agreement shall continue until September 30, 2025 (the
“Term”), unless earlier terminated in accordance with the terms of Section 12 of this Agreement.” 

3.    Section 12(d) of the Employment Agreement (“Termination by the Company without Cause or Resignation by the
Executive for Good Reason”) shall be amended so that the proviso at the end of subsection (i) reads in its entirety as follows: 

“provided, however, if the date of termination occurs after September 30, 2023, the two years of salary and bonus payable to the
Executive under the Separation Program shall be multiplied by a fraction, the numerator of which shall be the number of days from the last day of employment until September 30, 2025, and the denominator of which shall be 731, and shall not be
payable if the last day of employment is on or after September 30, 2025;” 
 In all other respects, the Employment Agreement shall
remain unchanged. In accordance with Section 21 of the Employment Agreement, the Company’s agreement to this Amendment is subject to the consent of the Company’s Board of Directors. 

 IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date first
written above. 
  

									
	AIR PRODUCTS AND CHEMICALS, INC.	  		  	SEIFOLLAH GHASEMI
				
	By:	  	 /s/ Sean D. Major
	  		  	 /s/ Seifi Ghasemi

	Title:	  	Executive Vice President	  		  	Date:	  	May 21, 2020
		  	General Counsel and Secretary	  	            	  		  	
	Date:	  	May 21, 2020Exhibit 10.1

 

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THIS NOTE HAS
BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE THEREOF
UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE MAKER THAT SUCH
REGISTRATION IS NOT REQUIRED.

 

PROMISSORY
NOTE

 

$750,000.00

Issue
Date: May 21, 2020

No.
A-1

New
York, New York

 

Insurance
Acquisition Corp. (the “Maker”) promises to pay to the order of Cohen & Company, LLC (the “Payee”)
the principal sum of up to Seven Hundred and Fifty Thousand Dollars ($750,000.00) (the “Maximum Principal Amount”)
in lawful money of the United States of America, on the terms and conditions described below.

 

1. Principal.
The Payee shall be obligated to lend to the Maker amounts up to the Maximum Principal Amount. The principal balance of this Note,
as reflected on Schedule A hereto (such schedule to be updated from time to time by Maker as amounts are borrowed from
the Payee up to the Maximum Principal Amount) shall be repayable on the date (the “Maturity Date”) on which
Maker consummates a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination
with one or more businesses (the “Initial Business Combination”). If Maker does not consummate an Initial Business
Combination, Maker may use all or a portion of any working capital held outside the Trust Account (as defined below) to repay
the balance of this Note; however, no proceeds from the Trust Account may be used for such repayment. If such funds are insufficient
to repay this Note, the unpaid amounts shall be forgiven.

 

2. Interest.
This Note shall bear no interest.

 

3. Application
of Payments. All payments shall be applied first to payment in full of any costs incurred in the collection of any sum due
under this Note, including (without limitation) reasonable attorneys’ fees, then to the payment in full of any late charges
and finally to the reduction of the unpaid principal balance of this Note.

 

4. Conversion.
At the Maturity Date, by providing written notice to Maker, Payee may elect to convert any portion or all of the amount outstanding
under this Note into warrants to purchase shares of common stock of the entity surviving or resulting from the Initial Business
Combination at a conversion price of $1.00 per warrant. The terms and conditions of such warrants shall be as described in the
registration statement and prospectus filed with the Securities and Exchange Commission in connection with the Maker’s initial
public offering (together, the “Registration Statement”).

 

5. Events
of Default. The following shall constitute Events of Default:

 

(a) Failure
to Make Required Payments. Failure by Maker to pay the principal of, or other payments on, this Note within five (5) business
days following the date when due.

 

6. Remedies.

 

(a)
Upon the occurrence of an Event of Default specified in Section 5(a), Payee may, by written notice to Maker, declare this Note
to be due and payable, whereupon the principal amount of this Note, and all other amounts payable under this Note, shall become
immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly
waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding.

  

     

     

    

 

7. Waivers.
Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice of dishonor,
protest, and notice of protest with regard to this Note, all errors, defects and imperfections in any proceedings instituted by
Payee under the terms of this Note, and all benefits that might accrue to Maker by virtue of any present or future laws exempting
any property, real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy
or sale under execution, or providing for any stay of execution, exemption from civil process, or extension of time for payment;
and Maker agrees that any real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of
execution issued hereon, may be sold upon any such writ in whole or in part in any order desired by Payee.

 

8. Unconditional
Liability. Maker hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement
of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any other
party, and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or
consented to by Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted
by Payee with respect to the payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors,
or sureties may become parties hereto without notice to them or affecting their liability hereunder.

 

9. Notices.
Any notice called for hereunder shall be deemed properly given if (i) sent by certified mail, return receipt requested, (ii) personally
delivered, (iii) dispatched by any form of private or governmental express mail or delivery service providing receipted delivery,
(iv) sent by facsimile or (v) sent by e-mail, to the following addresses or to such other address as either party may designate
by notice in accordance with this Section:

 

If
to Maker:

 

Insurance
Acquisition Corp.

2929
Arch Street, Suite 1703

Philadelphia,
PA 19104-2870

Attention:
Amanda Abrams

Email:
aabrams@cohenandcompany.com

 

If
to Payee:

 

Cohen
& Company, LLC

2929
Arch Street, Suite 1703

Philadelphia,
PA 19104-2870

Attention:
Joseph Pooler

Email:
jpooler@cohenandcompany.com

 

Notice
shall be deemed given on the earlier of (i) actual receipt by the receiving party, (ii) the date shown on a telefacsimile transmission
confirmation, (iii) the date on which an e-mail transmission was received by the receiving party’s on-line access provider,
(iv) the date reflected on a signed delivery receipt, or (vi) two (2) business days following tender of delivery or dispatch by
express mail or delivery service.

 

10. Construction. THIS
NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS
THEREOF THAT WOULD RESULT IN THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.

 

11. Severability.
Any provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and
any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.

 

12. Trust
Waiver. Notwithstanding anything herein to the contrary, the Payee hereby waives any and all right, title, interest or claim
of any kind (“Claim”) in or to any distribution of the trust account (the “Trust Account”)
in which the proceeds of Maker’s initial public offering and the proceeds of the sale of the securities issued in a private
placement consummated concurrently with the completion of the Maker’s initial public offering have been deposited, as described
in greater detail in the Registration Statement, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction
for any Claim against the Trust Account for any reason whatsoever.

 

    2

     

    

 

13. Amendment;
Waiver. Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent
of the Maker and the Payee.

 

14. Assignment.
No assignment or transfer of this Note or any rights or obligations hereunder may be made by any party hereto (by operation of
law or otherwise) without the prior written consent of the other party hereto and any attempted assignment without the required
consent shall be void.

 

15.
Loan Commitment Agreement. The amounts funded to Maker pursuant to this Note are being provided in satisfaction of the
obligations of Insurance Acquisition Sponsor, LLC (the “Sponsor”) to loan funds to Maker under that certain
Loan Commitment Agreement, dated March 19, 2019, between Maker and the Sponsor. The Payee is an affiliate of the Sponsor.

 

[Signature
Page Follows]

 

    3

     

    

 

IN
WITNESS WHEREOF, Maker, intending to be legally bound hereby, has caused this Note to be duly executed the day and year first
above written.

 

	 	INSURANCE
    ACQUISITION CORP.
	 	 	 
	 	By:	/s/
    John Butler
	 	Name:  	John Butler
	 	Title: 	Chief Executive Officer and President

 

[Insurance
Acquisition Corp. Promissory Note - Post IPO Working Capital]

 

     

     

    

 

SCHEDULE
A

 

	Date	 	Draw/Principal Amount	 
	May 21, 2020	 	$	350,000.00	 
	 	 	 	 	 
	Total Principal Amount Outstanding:	 	$	350,000.00

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