Document:

Exhibit 10.1

 

Severance Agreement and Release of
Claims

Peter Merkulov (hereinafter
 “Employee”) and GlobalSCAPE, Inc. (hereinafter “Company”), hereby agree to sever the employment relationship
under the terms and conditions set forth below:

1.
Consideration. In consideration of the promises and undertakings of Employee memorialized in this Agreement,
Company agrees to pay the Severance Pay set forth in Exhibit 1. Both parties understand that the terms provided herein constitute
fair and adequate consideration for the execution of this Agreement. Employee acknowledges that by signing this Agreement and accepting
the benefits provided herein, Employee is receiving benefits to which Employee would not otherwise be entitled.

2.
Indemnification Regarding Taxes. Employee agrees that should the foregoing payment result in Company being held obligated
to pay taxes, penalties, or interest, for which Employee was initially responsible and which should have been deducted from the
proceeds of the amounts paid, Employee will fully indemnify Company for all such taxes, penalties, or interest actually paid by
Company. Employee further agrees that should the foregoing payment be found improper or unwarranted by the Internal Revenue Service
or any other taxing authority, with the result that Employee is held obligated to pay additional taxes, penalties, or interest,
Employee will not assert, file or make any claims against Company or any of the other Released Parties (as defined in Paragraph
3 below), or pursue any other causes of action against Company or any of the other Released Parties for such taxes, penalties,
or interest Employee may be compelled to pay and the costs, including attorneys’ fees, which Employee may have to pay in
connection with any disputes between Employee and the Internal Revenue Service or any other taxing authority. Employee acknowledges
and agrees that neither Company, nor its respective attorneys, have made any representations to Employee regarding the tax consequences
of any amounts received by Employee pursuant to this Agreement.

3.
Release of Claims. Employee, on Employee’s behalf and on behalf of Employee’s family members, heirs,
successors, and assigns, in consideration of the promises and undertakings of Company memorialized in this Agreement, hereby release,
acquit, and forever discharge: (i) Company; (ii) any companies affiliated with Company, including parent and subsidiary corporations;
and (iii) any of the stockholders, officers, directors, agents, servants, employees, representatives, insurers, attorneys, successors,
and assigns of Company, in their respective individual, business, and official capacities (all of the foregoing referenced in the
immediately preceding (i),(ii), and (iii) as the “Released Parties” and each individually referred to as a “Released
Party”), from any and all claims, complaints, liabilities, damages, causes of action, suits, rights, costs, and expenses
(including attorneys’ fees) of any nature or kind whatsoever, known or unknown, including but not limited to any claim relating
to Employee’s employment or to the termination of Employee’s employment arising under federal, state or local law prohibiting
employment discrimination and/or retaliation, which Employee now has, or which Employee had at any time prior to the execution
of this Agreement, against the Company. This Release of Claims includes, without limitation, the following:

    	 

     

    

(i)
Claims related to Employee’s employment and/or Employee’s separation from the Company including, without limitation,
any allegation of a violation of any employment, bonus, or other compensation agreement with the Company including, without limitation,
any claims under any employment agreement between Employee and any Released Party;

(ii)
Claims that could be asserted in any Charge of Discrimination filed by Employee with the Equal Employment Opportunity Commission
and/or the Texas Workforce Commission--Civil Rights Division;

(iii)
Claims arising under state or federal constitution or state or federal statute (including, without limitation, all tort
claims), city ordinance, or public policy, including, without limitation, the Securities Exchange Act of 1934, as amended, the
Employee Retirement Income Security Act of 1974, 29 U.S.C. §1001 et seq., the Consolidated Ombinus and Budget Reconciliation
Act, claims involving employment discrimination, harassment, and/or retaliation of any form (including, without limitation, claims
under the Age Discrimination in Employment Act of 1967, 29 U.S.C. §621 et seq., Title VII of the Civil Rights Act of
1964 as amended, 42 U.S.C. §2000e et seq., the Civil Rights Act of 1870, 42 U.S.C. §1981, the Americans with Disabilities
Act of 1990, 42 U.S.C. §12101 et seq., the Family and Medical Leave Act of 1993, 29 U.S.C. §2601 et seq., the Equal Pay
Act, 29 U.S.C. §206, the Texas Commission on Human Rights Act, Tex. Lab. Code Ann. §21.001 et seq., and/or the Texas
Workers’ Compensation Act, Tex. Lab. Code §451.001 et seq., the Texas Labor Code, the Fair Labor Standards Act, or the
Equal Pay Act, or any other federal, state or local law;

(iv)
Claims arising under state or federal contract, tort, or common law, including, without limitation, any claim of breach
of contract, promissory estoppel, detrimental reliance, wrongful discharge, false imprisonment, assault, battery, intentional infliction
of emotional distress, defamation, slander, libel, fraud, invasion of privacy, breach of the covenant of good faith and fair dealing,
breach of fiduciary duty, conversion, and tortious interference with any type of third-party relationship, as well as any and all
damages that may arise out of any such claims, including, without limitation, claims for economic loss, lost profits, loss of capital,
lost wages, lost earning capacity, emotional distress, mental anguish, personal injuries, punitive damages, or any future damages;

(v)
Claims of retaliation of any nature, including, but not limited to, the anti-retaliatory provisions of the statutes identified
in Paragraph 3(iii) of this Agreement; and

(vi)
CLAIMS OF NEGLIGENCE OF ANY KIND INCLUDING, WITHOUT LIMITATION, GROSS NEGLIGENCE AGAINST GLOBALSCAPE BASED UPON THE ACTION
OR INACTION OF GLOBALSCAPE.

Employee does not
waive the right to apply for workers’ compensation, any state-provided unemployment compensation for which Employee may otherwise
be qualified, or any other right that may not be waived by agreement between the parties.

    	2

     

    

4.
Acknowledgment of Waiver of Claims under ADEA. Employee understands and acknowledges that Employee IS WAIVING
AND RELEASING ANY RIGHTS EMPLOYEE MAY HAVE UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT of 1967 (“ADEA”), and that
this waiver and release is knowing and voluntary. Employee understands and agrees that this waiver and release does not apply to
any rights or claims that may arise under the ADEA after the Effective Date of this Agreement. Employee understands and acknowledges
that the consideration given for this waiver and release is in addition to anything of value to which Employee was already entitled.
Employee further understands and acknowledges that Employee has been advised by this writing that: (a) Employee should consult
with an attorney prior to executing this Agreement; (b) Employee has forty-five (45) days within which to consider this
Agreement; (c) Employee has seven (7) days following Employee’s execution of this Agreement to revoke this Agreement; (d)
this Agreement shall not be effective until after the revocation period has expired; (e) Employee has been advised of the eligibility
factors and the time limits applicable and that Employee has been provided with information in writing about job titles and ages
of all individuals eligible or selected for the program, a copy of which is attached hereto as Exhibit 2; and (f) nothing
in this Agreement prevents or precludes Employee from challenging or seeking a determination in good faith of the validity of this
waiver under the ADEA, nor does it impose any condition precedent, penalties, or costs for doing so, unless specifically authorized
by federal law. In the event Employee signs this Agreement and returns it to the Company in less than the 45-day period identified
above, Employee hereby acknowledges that Employee has freely and voluntarily chosen to waive the time period allotted for considering
this Agreement. 

5.
Non-disclosure of Terms of Agreement.  Further in consideration of the promises and undertakings of Company memorialized
in this Agreement, Employee represents and warrants that Employee has not disclosed to any person the existence or the terms of
this Agreement. Employee and Company agree that this instrument shall not be filed of record or disclosed to any other persons,
that all of the terms of this Agreement including but not limited to the amount paid in severance by Company, and that all of Employee’s
claims and allegations against Company shall be kept confidential by Employee and shall not be divulged by him to any person, other
than Employee’s spouse, accountants or tax return preparers except as they may be required by law or judicial process to
reveal such information.

6.
Confidential Information. During Employee’s employment with Company, Employee was provided with and had access
to and knowledge of Company’s method of operation and other confidential information. Employee understands that this confidential
information is in the nature of a trade secret, and is the exclusive property of Company. Employee covenants and agrees that Employee
will not, directly or indirectly, use for Employee’s own benefit, use to the detriment of Company, or divulge to persons
other than authorized representatives of Company, any confidential information of Company. Employee further agrees that Employee’s
Confidentiality, Nondisclosure, Nonsolicitation, Noncompete, and Inventions Agreement, as it may have been amended in writing (“Confidentiality
Agreement”) survives the execution of this Agreement and is not superseded by this Agreement, and is incorporated as if fully
set forth herein. To the extent that the provisions of the Confidentiality Agreement state that any provision therein does
not apply upon involuntary termination of employment due to company lay-off, Employee agrees that such exception shall not apply,
and in consideration of the Severance Pay, Employee affirms that Employee will comply with all provisions of the Confidentiality
Agreement, including the provision(s) with an exception for termination of employment due to company lay-off. Employee
acknowledges that irreparable injury will result to Company in the event of Employee’s breach of any of the provisions herein.
Consequently, in addition to any other rights or remedies available to Company for breach of this Agreement by Employee, Company
shall be entitled to enforcement by preliminary or temporary restraining order and injunction. In the event Company seeks a restraining
order and injunction in accordance with this Agreement, Employee agrees that a bond posted by Company in the amount of $500 is
reasonable and sufficient.

    	3

     

    

7.
Return of Company Property. Further in consideration of the promises and undertakings of Company memorialized in
this Agreement, Employee agrees and represents that Employee has returned to Company any and all items of Company’s property,
including but not limited to files, manuals, business records, customer records, correspondence, software and related program passwords,
computer printouts and disks, electronically stored information (“ESI”) that resides on any of Employee’s personal
electronic devices including but not limited to a personal computer, keys, equipments, and any and all other documents or property
which Employee had possession of, access to, or control over during the course of Employee’s employment with Company or subsequent
thereto, including but not limited to any and all documents of Company and any documents removed from or copied from other documents
contained in Company’s files. Employee further acknowledges and agrees that all of the documents or other tangible things
to which Employee has had possession of, access to, or control over during the course of or subsequent to Employee’s employment
with Company, including but not limited to all documents or other tangible things, pertaining to any specific business transactions
in which Company was involved, or to any customers and suppliers of Company, or to the business operations of Company are considered
confidential and have been returned to Company. In the event Employee is in possession of ESI that resides on any of Employee’s
personal electronic devices including but not limited to a personal computer, upon returning Company’s ESI to Company, Employee
agrees and represents that all Company ESI has been deleted from all personal electronic devices and is inaccessible to Employee
or any other party having access to those devices. Employee represents that Company property including Company ESI has not been
copied and/or distributed to anyone who is not an authorized representative of Company. Employee will provide, upon Company’s
request, verification under penalty of perjury that Employee deleted Company ESI from all personal electronic devices and made
Company ESI inaccessible to Employee or any other party having access to those devices immediately upon Company’s acceptance
of Employee’s resignation, and that Employee has not copied and/or distributed Company ESI to anyone who is not an authorized
representative of Company.

8.
User IDs and Passwords. Immediately upon Company’s acceptance of Employee’s resignation, or upon request,
Employee agrees to provide all User IDs and Passwords used by Employee, and of any other party of which he is aware, to access
Company ESI on Company computers, electronic devices, and software.

9.
Non-Disparagement.  It is understood and agreed by Employee that Employee will not, in any manner, disparage Company.
It is also understood and agreed by Employee and Company that Company will state that Employee resigned, provide only a neutral
reference consisting of Employee’s dates of employment, last position held and last rate of pay. It is further understood
by Employee that Employee is to provide only the name of Leah Webb, Head of Administrative Services of the Company, as the individual
to be contacted by all prospective employers of Employee.

    	4

     

    

10.
Agreement Does Not Apply to Certain Disclosures. The provisions of this Paragraph 10 shall apply, notwithstanding
Paragraphs 5-9 and 11. Nothing in this Agreement prohibits Employee or the Company from reporting possible violations of federal
law or regulation to the Financial Industry Regulatory Authority or any governmental agency or entity, including but not limited
to, the Department of Justice, the Securities and Exchange Commission, the Congress, and any agency Inspector General, or making
other disclosures that are protected under the whistleblower provisions of federal law or regulation. Parties do not need prior
authorization of other Parties to make any such reports or disclosures, and Parties are not required to notify other Parties that
have made such reports or disclosures. Additionally, nothing in this Agreement limits the Employee’s right to receive an
award for information provided to any government agency.

Employee is hereby
notified in accordance with the Defend Trade Secrets Act of 2016 that the Employee will not be held criminally or civilly liable
under any federal or state trade secret law for the disclosure of a trade secret that: (a) is made (i) in confidence to a federal,
state, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting
or investigating a suspected violation of law; or (b) is made in a complaint or other document that is filed under seal in a lawsuit
or other proceeding. The Employee is further notified that if the Employee files a lawsuit for retaliation against the Company
for reporting a suspected violation of law, the Employee may disclose the Company’s trade secrets to the Employee’s
attorney and use the trade secret information in the court proceeding if the Employee: (a) files any document containing the trade
secret under seal; and (b) does not disclose the trade secret, except pursuant to court order.

11.
Cooperation. Further, in consideration of the promises and undertakings of Company memorialized in this Agreement,
Employee agrees to fully cooperate with Company and will be available via telephone and e-mail to answer any Company-related questions
through date of separation.

12.
No Admission of Liability. It is understood and agreed by Employee that this Agreement is for the sole purpose of
agreeing to sever the employment relationship of Employee and that, except to the extent necessary to enforce the terms and conditions
of this Agreement, neither the Agreement nor any part of it may be construed as, used, or admitted into evidence in any judicial,
administrative, or arbitral proceeding, as an admission of any kind by Company.

13.
Authority to Execute Agreement.  Employee and Company warrant and represent that they have the authority to execute
this Agreement without reservation.

14.
No Presumption Against Interest.  This Agreement has been jointly negotiated, drafted, and reviewed by Employee and
Company and, therefore, no provision arising directly or indirectly herefrom may be construed against any Party as being drafted
by that Party.

    	5

     

    

15.
Resolution of Disputes. Employee and Company agree that all disputes, controversies or claims between them arising
out of or relating to this Agreement shall be submitted to, and determined by, a judge of a court of competent jurisdiction in
Bexar County, Texas, whether in state or federal court. By execution of this Agreement, Employee and Company hereby acknowledge
and agree that each party has had an opportunity to consult with legal counsel and that EACH PARTY KNOWINGLY AND VOLUNTARILY
WAIVES ANY RIGHT TO A TRIAL BY JURY of any dispute pertaining to or relating in any way to the subject of this Agreement, the
provisions of any federal, state, or local law, regulation, or ordinance.

16.
Complete Defense. Employee understands and agrees that the Agreement is intended to be as broad and comprehensive
as possible so that Company shall never be liable, directly or indirectly, to Employee for all claims arising from Employee’s
employment or relating to Employee’s employment with or separation from Company. Employee further understands, acknowledges,
and agrees that in the event any claim, suit, or action of any kind whatsoever arising from Employee’s employment or relating
to Employee’s employment with or separation from Company shall be commenced by Employee, the Agreement shall constitute a
complete defense to such claim or action of any kind.

17.
No Waiver. Any failure or forbearance by Company to exercise any right or remedy with respect to enforcement of this
Agreement or any instrument executed in connection herewith shall not be construed as a waiver of Company’s rights or remedies,
nor shall such failure or forbearance operate to modify this Agreement or such instruments in the absence of a writing as provided
above. No waiver of any of the terms of this Agreement shall be valid unless in writing and signed by all Parties to this Agreement.
The waiver by Company of any provision of this Agreement shall not operate or be construed as a waiver of any subsequent breach
by Company, nor shall any waiver operate or be construed as a rescission of this Agreement.

18.
Entire Agreement. Employee and Company finally agree that, except for any other agreement expressly referenced herein
as surviving this Agreement, this Agreement: (i) contains and constitutes the entire understanding and agreement between them with
respect to its subject matter; (ii) supersedes and cancels any previous negotiations, agreements, commitments, and writings with
respect to that subject matter; (iii) may not be released, discharged, abandoned, supplemented, changed or modified in any manner
except by a writing of concurrent or subsequent date signed by all parties; and (iv) shall be construed and enforced in accordance
with the laws of the State of Texas. Employee and Company further agree that if any provision of this Agreement is held to be unenforceable,
such provision shall be considered to be separate, distinct, and severable from the other remaining provisions of this Agreement,
and shall not affect the validity or enforceability of such other remaining provisions. If this Agreement is held to be unenforceable
as written, but may be made enforceable by limitation, then such provision shall be enforceable to the maximum extent permitted
by applicable law.

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19.
NOTICE: Employee should thoroughly review and understand this Agreement before signing it. THIS AGREEMENT
INCLUDES A RELEASE AND WAIVER OF LEGAL RIGHTS AND CLAIMS. Company advises Employee to consult with an attorney prior to executing
this Agreement. By signing this Agreement, Employee agrees that Employee fully understands Employee’s right to discuss this
Agreement with an attorney of Employee’s choice and that Employee has exercised such right or waived such right. If Employee
wishes to accept and agree to these terms, Employee has 45 days within which to sign this Agreement, and seven days after execution
of this Agreement to revoke the terms of this Agreement. The “Effective Date” of this Agreement will be the first business
day after the revocation period expires.

SIGNED on the dates shown below.

	 	 	 
	 	 	 
	Dated:	
 8/21/18 

	 	 /s/ Leah Webb

 

	 	 	Leah Webb 

Head of Administrative Services
	 	 	 	 

 

    	7

     

    

 

	 	 	 
	 	 	 
	Dated:	
 08/21/2018 

	 	  /s/ Peter Merkulow

 

	 	 	Employee
	 	 	Print Name:	  Peter Merkulow

 

	 	 	 	 	 

 

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Exhibit 1

 

 

Name of Employee: Peter Merkulov_________________________________

 

The Company will continue to pay Employee all relevant compensation
and reimbursements including, but not limited to base salary, MBO and/or commission payments, business expenses reimbursements
as well as provide the same level of benefits for the period through October 31, 2018, “the Separation Date”.

 

Severance Pay: The base portion of the Severance Pay will be the
sum of $42,187.51 payable in biweekly payments beginning November 16, 2018, less applicable and customary taxes and deductions.
As a part of the Severance Pay the Company also agrees to pay MBO component for November and December for a total sum of $23,030.00
payable in 2 equal installments. These amounts are collectively to be referred to herein as the “Severance Pay”.

Schedule for payments for MBO part of the Severance Pay are: December
28, 2018 and January 25, 2019.

 

COBRA premiums: The Company agrees to pay COBRA premiums for medical,
dental and vision policies for months of November and December 2018.

 

Annual Bonus: The Company agrees to pay the annual bonus for the
year 2018. The time of the annual bonus payment is to be determined in accordance with the Company’s standard practices.
The total amount of 2018 annual bonus is to be calculated based on the attainment determined for the participants of 2018 annual
bonus program and will be pro-rated for 10 months.

    	9

     

    

 

Exhibit 2

Older
Workers Benefit Protection Act Disclosure Notice

The Older Workers
Benefit Protection Act (OWBPA) requires that employers provide specific information to employees who are 40 years of age or older
and asked to execute a release of claims in connection with a group termination program. This document provides this information.

 

The decisional unit
is all employees in the Company.

The group of individuals
covered: All employees of the Company whose employment is being terminated in August 2018 are eligible for the severance offer,
provided that the employee meets the qualifications for receiving severance. The severance policy, as set forth in the employee
handbook, is as follows:

SEVERANCE POLICY

 

In the event of an involuntary termination
due to a reduction in force/downsizing, change in company direction, department reorganization, position reclassification, job
elimination or termination for performance, GlobalSCAPE provides a severance benefit for the affected employee(s). This does not
apply to terminations for cause, refusal to be reassigned or refusal to be relocated.

 

The rate of severance is based upon length
of service with GlobalSCAPE (or as adjusted through acquisition). This policy applies to all exempt and non-exempt, full-time and
part-time employees working 70 hours or more per pay period and who receive company benefits. Part-time employees who do not receive
company benefits will receive severance pay on a pro-rated basis in accordance with their scheduled hours. GlobalSCAPE will honor
the original date of hire with the organization as long as the break-in-service for a rehired employee did not exceed one (1) year
in length.

 

	Length of Service	Number of Weeks
	More than one year – less than two	2
	Two years – less than four	3
	Four years – less than six	4
	Six years – less than eight	5
	Eight years – less than ten	6
	Ten years – less than twelve	7
	Twelve years or more	8

 

The maximum allowed severance is eight weeks. Severance is calculated
on base pay only. Employees may choose to receive it as a salary continuation benefit (continue payments on scheduled paydays)
or in a lump sum.

    	10

     

    

 

Eligibility
Factors: In determining who would be selected for the layoff and thus eligible for receiving severance (provided that the employee
selected for layoff otherwise meets the criteria for receiving severance), the Company reviewed the Company’s overall performance,
reviewed budgetary and cost considerations, and then looked at the relative performance of each individual; the quality of an employee’s
work, his/her reliability, and his/her conduct with respect to teamwork.

Time
limits: Each employee who is offered a severance proposal has 45 days to consider the Agreement and seven (7) days to revoke acceptance
after signing. An employee wishing to receive the Severance Pay must execute the proposed release within such period.

The
following table sets forth the job titles and ages of all individuals in the above named decisional unit whose employment was selected
for termination and those who were not. Those whose employment was terminated, but who do not otherwise meet the criteria for receiving
severance, are marked with as asterisk (*).

 

	Globalscape 	Enterprise Sales Manager	62	Y
	Globalscape 	Senior Software Engineer	28	Y
	Globalscape 	M&S Specialist	42	N
	Globalscape 	Product Manager	31	Y
	Globalscape 	Test Analyst I	36	Y
	Globalscape 	Channel Marketing Manager	46	Y
	Globalscape 	Business Development Representative	20	N
	Globalscape 	Server Support Analyst II	30	N
	Globalscape 	Senior Consultant	44	N
	Globalscape 	Content Creation Manager	40	Y
	Globalscape 	Server Support Analyst II	47	N
	Globalscape 	Test Analyst III	51	N

 

    	11

     

    

	Globalscape 	Server Support Analyst II	23	N
	Globalscape 	Senior Project Manager	64	Y
	Globalscape 	Senior Sales Engineer	54	N
	Globalscape 	Vice President of Sales	37	N
	Globalscape 	Software Engineer in Test	30	Y
	Globalscape 	Mid Market Sales Manager	29	N
	Globalscape 	Server Support Analyst I	26	N
	Globalscape 	Server Support Analyst III	36	N
	Globalscape 	Senior Software Engineer	39	Y
	Globalscape 	Mid Market Sales Manager	32	N
	Globalscape 	Software Engineer	24	N
	Globalscape 	Director of Product Management	56	Y
	Globalscape 	Chief Architect for EFT	38	Y
	Globalscape 	Test Analyst I	35	Y
	Globalscape 	Test Analyst I	45	Y
	Globalscape 	Server Support Analyst I	27	N
	Globalscape 	Office Assistant	61	N
	Globalscape 	Business Development Representative	23	N
	Globalscape 	Public Relations Media Relations Specialist	55	Y
	Globalscape 	Software Engineer	26	Y
	Globalscape 	International Inside Channel Sales Manager	57	N
	Globalscape 	Senior System Engineer	37	N
	Globalscape 	Senior Director of Channel Sales & Marketing	50	Y

 

    	12

     

    

	Globalscape 	Sales Engineer	47	N
	Globalscape 	Staff Accountant	29	N
	Globalscape 	Business Development Representative	24	N
	Globalscape 	Senior Software Engineer	48	N
	Globalscape 	Director of Inside Sales	50	N
	Globalscape 	Software Engineering Manager	55	Y
	Globalscape 	Server Support Analyst III	33	N
	Globalscape 	Senior Director of Sales Engineering	48	N
	Globalscape 	Server Support Analyst III	54	N
	Globalscape 	Contracts Administrator	29	N
	Globalscape 	System Administrator	29	N
	Globalscape 	President & CEO	46	N
	Globalscape 	Marketing Operations Manager	45	Y
	Globalscape 	Director of Professional Services	37	N
	Globalscape 	Senior Sales Engineer	37	Y
	Globalscape 	Markting Content Manager Copywriter	45	N
	Globalscape 	Senior Consultant	39	N
	Globalscape 	Test Analyst I	27	Y
	Globalscape 	Senior Channel Sales Manager	58	Y
	Globalscape 	Server Support Analyst III	34	N
	Globalscape 	Server Support Analyst I	25	N

 

    	13

     

    

	Globalscape 	Mid Market Sales Manager	55	N
	Globalscape 	Server Support Analyst III	30	N
	Globalscape 	Test Analyst I	48	Y
	Globalscape 	Inside Channel Account Manager	30	N
	Globalscape 	Server Support Analyst II	29	N
	Globalscape 	Channel Sales Manager	62	Y
	Globalscape 	Senior Manager of Marketing Communitcations	55	Y
	Globalscape 	Senior Consultant	55	N
	Globalscape 	Senior Network Administrator	45	N
	Globalscape 	Server Support Analyst II	30	N
	Globalscape 	Mid Market Sales Manager	35	N
	Globalscape 	Enterprise Sales Manager	52	N
	Globalscape 	Recruiting Manager	44	N
	Globalscape 	Federal Government Sales Manager	60	Y
	Globalscape 	Server Support Analyst I	32	N
	Globalscape 	Sales Operations	50	N
	Globalscape 	Knowledge Manager	59	N
	Globalscape 	Software Engineer in Test	30	N
	Globalscape 	Senior Director of Engineering	42	Y
	Globalscape 	Business Development Representative Lead	44	N
	Globalscape 	Vice President of Operations	55	N
	Globalscape 	Senior Product Manager	60	N

 

    	14

     

    

	Globalscape 	Chief Technology Officer	39	N
	Globalscape 	Enterprise Sales Manager	44	N
	Globalscape 	Network Administrator	45	N
	Globalscape 	Staff Accountant	22	N
	Globalscape 	Server Support Analyst II	40	N
	Globalscape 	Inside Sales Representative	42	N
	Globalscape 	Senior Software Engineer	48	N
	Globalscape 	Vice President of Marketing	56	Y
	Globalscape 	Enterprise Sales Manager	51	Y
	Globalscape 	Server Support Analyst II	39	N
	Globalscape 	Server Support Analyst II	41	N
	Globalscape 	Channel Sales Manager	32	N
	Globalscape 	Senior Director of Product Strategy	46	N
	Globalscape 	Sales Engineer	48	Y
	Globalscape 	Director of Client Services	38	N
	Globalscape 	M&S Specialist	27	N
	Globalscape 	Product Marketing Manager	25	N
	Globalscape 	Senior Project Manager	53	N
	Globalscape 	Test Analyst III	36	Y
	Globalscape 	M&S Support Specialist	23	N
	Globalscape 	Vice President of Human Resources	45	Y
	Globalscape 	Senior Director of Information Systems	41	N
	Globalscape 	Business Development Representative	23	N

 

    	15

     

    

	Globalscape 	Director of Demand Generation	44	Y
	Globalscape 	Server Support Analyst III	32	N
	Globalscape 	DevOps Engineer	31	N
	Globalscape 	Test Analyst II	42	N
	Globalscape 	Mid Market Sales Manager	54	Y
	Globalscape 	Server Support Analyst I	34	N
	Globalscape 	Server Support Analyst II	23	N
	Globalscape 	Server Support Analyst II	29	N
	Globalscape 	International Channel Account Manager	56	N
	Globalscape 	Technical Account Manager	27	Y
	Globalscape 	Business Development Representative	38	N
	Globalscape 	VP of Business Development & Enterprise Sales	48	Y
	Globalscape 	Director of Product Marketing, Product Strategy	32	N
	Globalscape 	Staff Accountant	27	N
	Globalscape 	Manager of Test	37	N
	Globalscape 	Software Engineer	24	N
	Globalscape 	Director of Corporate Administration	53	N
	Globalscape 	Test Analyst I	44	Y
	Globalscape 	Software Engineer	32	Y
	Globalscape 	Senior System Engineer	39	N
	Globalscape 	DevOps Engineer	36	N

 

    	16

     

    

	Globalscape 	Sales Engineer	27	N
	Globalscape 	Sales Operations Specialist	25	N
	Globalscape 	Test Analyst III	66	N
	Globalscape 	CFO	55	N
	Globalscape 	Channel Sales Engineer	48	Y

 

    	17Exhibit 10.2

 

EXECUTION VERSION

 

[•], 2018

 

Churchill Capital Corp

640 Fifth Avenue, 12th Floor

New York, NY 10019

 

(212) 380-7500

 

		Re:	Initial Public Offering

 

Gentlemen:

 

This letter (this “Letter Agreement”)
is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”) to be
entered into by and among Churchill Capital Corp, a Delaware corporation (the “Company”) and Citigroup Global
Markets Inc. (the “Underwriter”), relating to an underwritten initial public offering (the “Public
Offering”), of 51,750,000 of the Company’s units (including up to 6,750,000 units that may be purchased to cover
over-allotments, if any) (the “Units”), each comprised of one share of the Company’s Class A common stock,
par value $0.0001 per share (the “Common Stock”), and one half of one redeemable warrant. Each whole Warrant
(each, a “Warrant”) entitles the holder thereof to purchase one share of Common Stock at a price of $11.50 per
share, subject to adjustment. The Units will be sold in the Public Offering pursuant to a registration statement on Form S-1 and
prospectus (the “Prospectus”) filed by the Company with the U.S. Securities and Exchange Commission (the “Commission”)
and the Company has applied to have the Units listed on the New York Stock Exchange. Certain capitalized terms used herein are
defined in paragraph 11 hereof.

 

In order to induce the Company and the Underwriter
to enter into the Underwriting Agreement and to proceed with the Public Offering and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, Churchill Sponsor LLC (the “Sponsor”) and each
of the undersigned individuals, each of whom is a member of the Company’s board of directors and/or management team (each,
an “Insider” and collectively, the “Insiders”), hereby agrees with the Company as follows:

 

1.          The
Sponsor and each Insider agrees that if the Company seeks stockholder approval of a proposed Business Combination, then in connection
with such proposed Business Combination, it, he or she shall (i) vote any shares of Capital Stock owned by it, him or her in favor
of any proposed Business Combination and (ii) not redeem any shares of Common Stock owned by it, him or her in connection with
such stockholder approval.

 

     

     

    

 

2.          The
Sponsor and each Insider hereby agrees that in the event that the Company fails to consummate a Business Combination within 24
months from the closing of the Public Offering, or such later period approved by the Company’s stockholders in accordance
with the Company’s amended and restated certificate of incorporation (the “Charter”), the Sponsor and
each Insider shall take all reasonable steps to cause the Company to (i) cease all operations except for the purpose of winding
up, (ii) as promptly as reasonably possible but not more than 10 business days thereafter, subject to lawfully available funds
therefor, redeem 100% of the Common Stock sold as part of the Units in the Public Offering (the “Offering Shares”),
at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account (net of amounts withdrawn
to pay the Company’s taxes and less up to $100,000 of interest to pay dissolution expenses), including interest, divided
by the number of then outstanding Offering Shares, which redemption will completely extinguish all Public Stockholders’ rights
as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii)
as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining stockholders
and the Company’s board of directors, dissolve and liquidate, subject in each case to the Company’s obligations under
Delaware law to provide for claims of creditors and other requirements of applicable law. The Sponsor and each Insider agree to
not propose any amendment to the Charter that would modify the substance or timing of the Company’s obligation to redeem
100% of the Offering Shares if the Company does not complete a Business Combination within 24 months from the closing of the Public
Offering, unless the Company provides its Public Stockholders with the opportunity to redeem their Offering Shares upon approval
of any such amendment at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account
(net of amounts withdrawn to pay the Company’s taxes and less up to $100,000 of interest to pay dissolution expenses), including
interest, divided by the number of then outstanding Offering Shares.

 

The Sponsor and each Insider acknowledges
that it, he or she has no right, title, interest or claim of any kind in or to any monies held in the Trust Account or any other
asset of the Company as a result of any liquidation of the Company with respect to the Founder Shares held by it, him or her. The
Sponsor and each Insider hereby further waive, with respect to any shares of Common Stock held by it, him or her, if any, any redemption
rights it, he or she may have in connection with the consummation of a Business Combination, including, without limitation, any
such rights available in the context of a stockholder vote to approve such Business Combination or in the context of a tender offer
made by the Company to purchase shares of Common Stock (although the Sponsor, the Insiders and their respective affiliates shall
be entitled to redemption and liquidation rights with respect to any Offering Shares it or they hold if the Company fails to consummate
a Business Combination within 24 months from the date of the closing of the Public Offering or in connection with a stockholder
vote to approve an amendment to the Charter to modify the substance or timing of the Company’s obligation to redeem 100%
of the Offering Shares if the Company does not complete a Business Combination within 24 months from the closing of the Public
Offering).

 

    	 	2	 

     

    

 

3.          During
the period commencing on the effective date of the Underwriting Agreement and ending 180 days after such date, the Sponsor and
each Insider shall not, without the prior written consent of the Underwriter, (i) sell, offer to sell, contract or agree to sell,
hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree to dispose of, directly or indirectly, or establish
or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations of the Commission
promulgated thereunder, with respect to any Units, shares of Capital Stock, Warrants or any securities convertible into, or exercisable,
or exchangeable for, shares of Common Stock owned by it, him or her, (ii) enter into any swap or other arrangement that transfers
to another, in whole or in part, any of the economic consequences of ownership of any Units, shares of Capital Stock, Warrants
or any securities convertible into, or exercisable, or exchangeable for, shares of Common Stock owned by it, him or her, whether
any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (iii) publicly announce any intention
to effect any transaction specified in clause (i) or (ii). Each of the Insiders and the Sponsor acknowledges and agrees that, prior
to the effective date of any release or waiver of the restrictions set forth in this paragraph 3 or paragraph 7 with respect to
Insiders other than the Sponsor, below, the Company shall announce the impending release or waiver by press release through a major
news service at least two business days before the effective date of the release or waiver. Any such release or waiver granted
shall only be effective two business days after the publication date of such press release. The provisions of this paragraph will
not apply if (i) the release or waiver is effected solely to permit a transfer of securities without consideration and (ii) the
transferee has agreed in writing to be bound by the same terms described in this Letter Agreement to the extent and for the duration
that such terms remain in effect at the time of the transfer.

 

4.          In
the event of the liquidation of the Trust Account, the Sponsor (which for purposes of clarification shall not extend to any other
shareholders, members or managers of the Sponsor) agrees to indemnify and hold harmless the Company against any and all loss, liability,
claim, damage and expense whatsoever (including, but not limited to, any and all legal or other expenses reasonably incurred in
investigating, preparing or defending against any litigation, whether pending or threatened, or any claim whatsoever) to which
the Company may become subject as a result of any claim by (i) any third party (other than the Company’s independent
accountants) for services rendered or products sold to the Company or (ii) any prospective target business with which the Company
has entered into a letter of intent, confidentiality or other similar agreement for a Business Combination (a “Target”);
provided, however, that such indemnification of the Company by the Sponsor (x) shall apply only to the extent necessary
to ensure that such claims by a third party (other than the Company’s independent public accountants) or a Target do not
reduce the amount of funds in the Trust Account to below the lesser of (i) $10.00 per Offering Share or (ii) the actual amount
per Offering Share held in the Trust Account as of the date of the liquidation of the Trust Account, if less then $10.00 per Offering
Share is then held in the Trust Account due to reductions in the value of the trust assets less interest earned on the Trust Account
which may be withdrawn to pay taxes, (y) shall not apply to any claims by a third party (including a Target) that executed a waiver
of any and all rights to the monies held in the Trust Account (whether or not such waiver is enforceable) and (z) shall not apply
to any claims under the Company’s indemnity of the Underwriter against certain liabilities, including liabilities under the
Securities Act of 1933, as amended. In the event that any such executed waiver is deemed to be unenforceable against such third
party, the Sponsor shall not be responsible to the extent of any liability for such third party claims. The Sponsor shall have
the right to defend against any such claim with counsel of its choice reasonably satisfactory to the Company if, within 15 days
following written receipt of notice of the claim to the Sponsor, the Sponsor notifies the Company in writing that it shall undertake
such defense. For the avoidance of doubt, none of the Company’s officers or directors will indemnify the Company for claims
by third parties, including, without limitation, claims by vendors and prospective target businesses.

 

    	 	3	 

     

    

 

5.          To
the extent that the Underwriter does not exercise its over-allotment option to purchase up to an additional 6,750,000 Units within
45 days from the date of the Prospectus (and as further described in the Prospectus), the Sponsor agrees to forfeit, at no cost,
a number of Founder Shares in the aggregate equal to the product of 1,687,500 multiplied by a fraction, (i) the numerator of which
is 6,750,000 minus the number of Units purchased by the Underwriter upon the exercise of its over-allotment option, and (ii) the
denominator of which is 6,750,000. The forfeiture will be adjusted to the extent that the over-allotment option is not exercised
in full by the Underwriter so that the Initial Stockholders will own an aggregate of 20.0% of the Company’s issued and outstanding
shares of Capital Stock after the Public Offering. To the extent that the size of the Public Offering is increased or decreased,
the Company will effect a capitalization or share repurchase, redemption or stock split or other appropriate mechanism, as applicable,
immediately prior to the consummation of the Public Offering in such amount as to maintain the ownership of the Capital Stock of
the Initial Stockholders prior to the Public Offering at 20.0% of the Company’s issued and outstanding Capital Stock upon
the consummation of the Public Offering. In connection with such increase or decrease in the size of the Public Offering, (A) references
to 6,750,000 in the numerator and denominator of the formula in the first sentence of this paragraph shall be changed to a number
equal to 15% of the number of shares included in the Units issued in the Public Offering and (B) the reference to 1,687,500 in
the formula set forth in the immediately preceding sentence shall be adjusted to such number of Founder Shares that the Sponsor
would have to return to the Company in order to hold (with all of the Initial Stockholders) an aggregate of 20.0% of the Company’s
issued and outstanding Capital Stock after the Public Offering.

 

6.          (a)          Jerre
Stead and Sheryl von Blucher hereby agree not to participate in the formation of, or become an officer or director of, any other
special purpose acquisition company with a class of securities registered under the Exchange Act until the Company has entered
into a definitive agreement regarding a Business Combination or the Company has failed to complete a Business Combination within
the time period set forth in the Charter.

 

(b)          The
Sponsor and each Insider hereby agrees and acknowledges that: (i) the Underwriter and the Company would be irreparably injured
in the event of a breach by such Sponsor or an Insider of its, his or her obligations under paragraphs 1, 2, 3, 4, 5, 6(a), 7(a),
7(b), and 9, as applicable, of this Letter Agreement (ii) monetary damages may not be an adequate remedy for such breach and (iii)
the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that such party may have in law
or in equity, in the event of such breach.

 

    	 	4	 

     

    

 

7.          (a)          The
Sponsor and each Insider agree that it or he shall not Transfer any Founder Shares (or shares of Common Stock issuable upon conversion
thereof) until the earlier of (A) one year after the completion of the Company’s initial Business Combination or (B) subsequent
to the Business Combination, (x) if the last sale price of the Common Stock equals or exceeds $12.00 per share (as adjusted for
stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day
period commencing at least 150 days after the Company’s initial Business Combination or (y) the date on which the Company
completes a liquidation, merger, capital stock exchange, reorganization or other similar transaction that results in all of the
Company’s stockholders having the right to exchange their shares of Common Stock for cash, securities or other property (the
 “Founder Shares Lock-up Period”).

 

(b)          The
Sponsor and each Insider agree that it, he or she shall not Transfer any Private Placement Warrants (or shares of Common Stock
issued or issuable upon the exercise of the Private Placement Warrants) until 30 days after the completion of a Business Combination
(the “Private Placement Warrants Lock-up Period”, together with the Founder Shares Lock-up Period, the “Lock-up
Periods”).

 

(c)          Notwithstanding
the provisions set forth in paragraphs 3 and 7(a) and (b), Transfers of the Founder Shares, Private Placement Warrants and shares
of Common Stock issued or issuable upon the exercise or conversion of the Private Placement Warrants or the Founder Shares and
that are held by the Sponsor, any Insider or any of their permitted transferees (that have complied with this paragraph 7(c)),
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 of the Sponsor, or any affiliates of the Sponsor; (b) in the case of an individual, transfers
by gift to a member of the individual’s immediate family, to a trust, the beneficiary of which is a member of the individual’s
immediate family or an affiliate of such person, or to a charitable organization; (c) in the case of an individual, transfers by
virtue of laws of descent and distribution upon death of the individual; (d) in the case of an individual, transfers pursuant to
a qualified domestic relations order; (e) transfers 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 securities were originally purchased; (f) transfers in the
event of the Company’s liquidation prior to the completion of an initial Business Combination; (g) transfers by virtue of
the laws of the State of Delaware or the Sponsor’s limited liability company agreement upon dissolution of the Sponsor; (h)
to a nominee or custodian of a person or entity to whom a disposition or transfer would be permissible under clauses (a) through
(g) above; provided, however, that in the case of clauses (a) through (e) and (h), these permitted transferees must
enter into a written agreement with the Company agreeing to be bound by the transfer restrictions herein.

 

8.          The
Sponsor and each Insider represent and warrant that it, he or she has never been suspended or expelled from membership in any securities
or commodities exchange or association or had a securities or commodities license or registration denied, suspended or revoked.
Each Insider’s biographical information furnished to the Company (including any such information included in the Prospectus)
is true and accurate in all respects and does not omit any material information with respect to the Insider’s background.
The Sponsor and each Insider’s questionnaire furnished to the Company is true and accurate in all respects. The Sponsor and
each Insider represents and warrants that: it, he or she is not subject to or a respondent in any legal action for, any injunction,
cease-and-desist order or order or stipulation to desist or refrain from any act or practice relating to the offering of securities
in any jurisdiction; it, he or she has never been convicted of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating
to any financial transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and
it, he or she is not currently a defendant in any such criminal proceeding.

 

    	 	5	 

     

    

 

9.          Except
as disclosed in the Prospectus, neither the Sponsor nor any Insider nor any affiliate of the Sponsor or any Insider, nor any director
or officer of the Company, shall receive from the Company any finder’s fee, reimbursement, consulting fee, monies in respect
of any repayment of a loan or other compensation prior to, or in connection with any services rendered in order to effectuate the
consummation of the Company’s initial Business Combination (regardless of the type of transaction that it is), other than
the following, none of which will be made from the proceeds held in the Trust Account prior to the completion of the initial Business
Combination: repayment of a loan and advances up to an aggregate of $300,000 made to the Company by the Sponsor; and repayment
of loans, if any, and on such terms as to be determined by the Company from time to time, made by the Sponsor or any of the Company’s
officers or directors to finance transaction costs in connection with an intended initial Business Combination, provided,
that, if the Company does not consummate an initial Business Combination, a portion of the working capital held outside the Trust
Account may be used by the Company to repay such loaned amounts so long as no proceeds from the Trust Account are used for such
repayment. Up to $1,500,000 of such loans may be convertible into warrants at a price of $1.00 per warrant at the option of the
lender. Such warrants would be identical to the Private Placement Warrants, including as to exercise price, exercisability and
exercise period.

 

10.         The
Sponsor and each Insider have full right and power, without violating any agreement to which it is bound (including, without limitation,
any non-competition or non-solicitation agreement with any employer or former employer), to enter into this Letter Agreement and,
as applicable, to serve as an officer and/or a director on the board of directors of the Company and hereby consents to being named
in the Prospectus as an officer and/or a director of the Company.

 

11.         As
used herein, (i) “Business Combination” shall mean a merger, capital stock exchange, asset acquisition, stock
purchase, reorganization or similar business combination, involving the Company and one or more businesses; (ii) “Capital
Stock” shall mean, collectively, the Common Stock and the Founder Shares; (iii) “Founder Shares” shall
mean the 12,937,500 shares of the Company’s Class B common stock, par value $0.0001 per share, (or 11,250,000 shares if the
over-allotment option is not exercised by the Underwriter) initially held by the Sponsor; (iv) “Initial Stockholders”
shall mean the Sponsor and any other holder of Founder Shares immediately prior to the Public Offering; (v) “Private Placement
Warrants” shall mean the warrants to purchase up to 13,500,000 shares of Common Stock of the Company (or 14,850,000 shares
of Common Stock if the over-allotment option is exercised in full) that the Sponsor has agreed to purchase for an aggregate purchase
price of $13,500,000 in the aggregate (or $14,850,000 if the over-allotment option is exercised in full), or $1.00 per warrant,
in a private placement that shall occur simultaneously with the consummation of the Public Offering; (vi) “Public Stockholders”
shall mean the holders of securities issued in the Public Offering; (vii) “Trust Account” shall mean the trust
fund into which a portion of the net proceeds of the Public Offering and the sale of the Private Placement Warrants shall be deposited;
and (viii) “Transfer” shall mean the (a) sale or assignment of, offer to sell, contract or agreement to sell,
hypothecate, pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly,
or establishment or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent position
within the meaning of Section 16 of the Exchange Act and the rules and regulations of the Commission promulgated thereunder with
respect to, any security, (b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the
economic consequences of ownership of any security, whether any such transaction is to be settled by delivery of such securities,
in cash or otherwise, or (c) public announcement of any intention to effect any transaction specified in clause (a) or (b).

 

    	 	6	 

     

    

 

12.         This
Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof
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 Letter Agreement may not
be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision, except by
a written instrument executed by all parties hereto.

 

13.         Except
as otherwise provided herein, no party hereto may assign either this Letter Agreement or any of its rights, interests, or obligations
hereunder without the prior written consent of the other parties. 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 Letter
Agreement shall be binding on the Sponsor and each Insider and their respective successors, heirs and assigns and permitted transferees.

 

14.         Nothing
in this Letter Agreement shall be construed to confer upon, or give to, any person or entity other than the parties hereto any
right, remedy or claim under or by reason of this Letter Agreement or of any covenant, condition, stipulation, promise or agreement
hereof. All covenants, conditions, stipulations, promises and agreements contained in this Letter Agreement shall be for the sole
and exclusive benefit of the parties hereto and their successors, heirs, personal representatives and assigns and permitted transferees.

 

15.         This
Letter Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all
purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

    	 	7	 

     

    

 

16.         This
Letter Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect
the validity or enforceability of this Letter Agreement or of any other term or provision hereof. Furthermore, in lieu of any such
invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Letter Agreement
a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

17.         This
Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without
giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
The parties hereto (i) all agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this
Letter Agreement shall be brought and enforced in the courts of New York City, in the State of New York, and irrevocably submit
to such jurisdiction and venue, which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive
jurisdiction and venue or that such courts represent an inconvenient forum.

 

18.         Any
notice, consent or request to be given in connection with any of the terms or provisions of this Letter Agreement shall be in writing
and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery
or facsimile transmission.

 

19.         This
Letter Agreement shall terminate on the earlier of (i) the expiration of the Lock-up Periods or (ii) the liquidation of the Company;
provided, however, that this Letter Agreement shall earlier terminate in the event that the Public Offering is not
consummated and closed by March 31, 2019; provided further that paragraph 4 of this Letter Agreement shall survive such
liquidation for a period of six years.

 

[Signature Page Follows]

 

    	 	8	 

     

    

 

	 	Sincerely,
	 	 
	 	CHURCHILL SPONSOR LLC
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

[Signature Page to Letter Agreement]

 

     

     

    

 

Acknowledged and Agreed:

 

CHURCHILL CAPITAL CORP

 

	By:	 	 
	 	Name:	 
	 	Title:	 

 

[Signature Page to Letter Agreement]

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