Document:

EX-10.1

 Exhibit 10.1 

GORES III SUBSCRIPTION AGREEMENT 

This SUBSCRIPTION AGREEMENT is entered into this 1st day of November, 2019 (this “Subscription Agreement”),
by and between Gores Holdings III, Inc., a Delaware corporation (the “Company”), and the undersigned (“Subscriber”). 

WHEREAS, the Company concurrently herewith is entering into that certain Agreement and Plan of Merger, dated as of the date
hereof, substantially in the form provided to Subscriber (the “Merger Agreement”), pursuant to which the Company will acquire Shay Holding Corporation, on the terms and subject to the conditions set forth therein (the
“Transactions”); 
 WHEREAS, in connection with the Transactions, Subscriber desires to subscribe for and
purchase from the Company that number of shares of the Company’s Class A common stock, par value $0.0001 per share set forth on the signature page hereto (the “Acquired Shares”), for a purchase price of $9.20 per share, or
the aggregate purchase price set forth on the signature page hereto (the “Purchase Price”), and the Company desires to issue and sell to Subscriber the Acquired Shares in consideration of the payment of the Purchase Price by or on
behalf of Subscriber to the Company on or prior to the Closing (as defined below); 
 NOW, THEREFORE, in consideration of
the foregoing and the mutual representations, warranties and covenants, and subject to the conditions, herein contained, and intending to be legally bound hereby, the parties hereto hereby agree as follows: 

1. Subscription. Subject to the terms and conditions hereof, Subscriber hereby agrees to subscribe for and purchase, and
the Company hereby agrees to issue and sell to Subscriber, upon the payment of the Purchase Price, the Acquired Shares (such subscription and issuance, the “Subscription”). 

2. Closing. 

a. The closing of the Subscription contemplated hereby (the “Closing”) is contingent upon the substantially
concurrent consummation of the Transactions and shall occur immediately prior thereto. Not less than seven (7) business days prior to the scheduled closing date of the Transactions (the “Closing Date”), the Company shall
provide written notice to Subscriber (the “Closing Notice”) specifying (i) that the Company reasonably expects all conditions to the closing of the Transactions to be satisfied on a date that is not less than seven
(7) business days from the date of the Closing Notice and (ii) instructions for wiring the Purchase Price for the Acquired Shares. Subscriber shall deliver to the Company at least two (2) business days prior to the Closing Date, to be
held in escrow until the Closing, the Purchase Price for the Acquired Shares by wire transfer of United States dollars in immediately available funds to the account specified by the Company in the Closing Notice. On the Closing Date, the Company
shall deliver to Subscriber the Acquired Shares in book entry form, and the Purchase Price shall be released from escrow automatically and without further action by the Company or Subscriber. In the event the Closing does not occur on the Closing
Date, the Company shall promptly (but not later than one (1) business day thereafter) return the Purchase Price to Subscriber. 

b. The Closing shall be subject to the conditions that, on the Closing Date: 

  
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 (i) no suspension of the qualification of the Acquired Shares for offering
or sale or trading in any jurisdiction, or initiation or threatening in writing of any proceedings for any of such purposes, shall have occurred; 

(ii) all representations and warranties of the Company and Subscriber contained in this Subscription Agreement shall be true
and correct in all material respects as of the Closing Date, and consummation of the Closing shall constitute a reaffirmation by each of the Company and Subscriber of each of the representations, warranties and agreements of each such party
contained in this Subscription Agreement as of the Closing Date; 
 (iii) no governmental authority shall have enacted,
issued, promulgated, enforced or entered any judgment, order, rule or regulation (whether temporary, preliminary or permanent) which is then in effect and has the effect of making consummation of the transactions contemplated hereby illegal or
otherwise restricting, prohibiting or enjoining consummation of the transactions contemplated hereby; and 
 (iv) all
conditions precedent to the closing of the Transactions set forth in the Merger Agreement, including the approval of the Company’s stockholders, shall have been satisfied or waived. 

c. At the Closing, the parties hereto shall execute and deliver such additional documents and take such additional actions as
the parties reasonably may deem to be practical and necessary in order to consummate the Subscription as contemplated by this Subscription Agreement. 

3. Company Representations and Warranties. The Company represents and warrants that: 

a. The Company has been duly incorporated and is validly existing as a corporation in good standing under the laws of the State
of Delaware, with corporate power and authority to own, lease and operate its properties and conduct its business as presently conducted and to enter into, deliver and perform its obligations under this Subscription Agreement. 

b. The Acquired Shares have been duly authorized and, when issued and delivered to Subscriber against full payment therefor in
accordance with the terms of this Subscription Agreement, the Acquired Shares will be validly issued, fully paid and non-assessable and will not have been issued in violation of or subject to any preemptive or
similar rights created under the Company’s amended and restated certificate of incorporation or under the Delaware General Corporation Law. 

c. This Subscription Agreement has been duly authorized, executed and delivered by the Company and is enforceable against it in
accordance with its terms, except as may be limited or otherwise affected by (i) bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other laws relating to or affecting the rights of creditors generally, and
(ii) principles of equity, whether considered at law or equity. 

  
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 d. The issuance and sale of the Acquired Shares and the compliance by the
Company with all of the provisions of this Subscription Agreement and the consummation of the transactions contemplated herein will not conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default
under, or result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of the Company or any of its subsidiaries pursuant to the terms of (i) any indenture, mortgage, deed of trust, loan agreement,
lease, license or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the property or assets of the Company or any of its
subsidiaries is subject, which would reasonably be expected to have a material adverse effect on the business, properties, financial condition, stockholders’ equity or results of operations of the Company and its subsidiaries, taken as a whole
(a “Material Adverse Effect”) or materially affect the validity of the Acquired Shares or the legal authority of the Company to comply in all material respects with the terms of this Subscription Agreement; (ii) result in any
violation of the provisions of the organizational documents of the Company or any of its subsidiaries; or (iii) result in any violation of any statute or any judgment, order, rule or regulation of any court or governmental agency or body,
domestic or foreign, having jurisdiction over the Company or any of its subsidiaries or any of their respective properties that would reasonably be expected to have a Material Adverse Effect or materially affect the validity of the Acquired Shares
or the legal authority of the Company to comply in all material respects with this Subscription Agreement. 
 4.
Subscriber Representations and Warranties. Subscriber represents and warrants that: 
 a. If Subscriber is not an
individual, Subscriber has been duly formed or incorporated and is validly existing in good standing under the laws of its jurisdiction of incorporation or formation, with power and authority to enter into, deliver and perform its obligations under
this Subscription Agreement. If Subscriber is an individual, Subscriber has the authority to enter into, deliver and perform its obligations under this Subscription Agreement. 

b. If Subscriber is not an individual, this Subscription Agreement has been duly authorized, executed and delivered by
Subscriber. If Subscriber is an individual, the signature on this Subscription Agreement is genuine, and Subscriber has legal competence and capacity to execute the same. This Subscription Agreement is enforceable against Subscriber in accordance
with its terms, except as may be limited or otherwise affected by (i) bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other laws relating to or affecting the rights of creditors generally, and (ii) principles
of equity, whether considered at law or equity. 
 c. The execution, delivery and performance by Subscriber of this
Subscription Agreement and the consummation of the transactions contemplated herein will not conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, or result in the creation or
imposition of any lien, charge or encumbrance upon any of the property or assets of Subscriber or any of its subsidiaries pursuant to the terms of (i) any indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement or
instrument to which Subscriber or any of its subsidiaries is a party or by which Subscriber or any of its subsidiaries is bound or to which any of the property or assets of Subscriber or any of its subsidiaries is subject, which would reasonably be
expected to have a material adverse effect on the business, properties, financial condition, stockholders’ equity or results of operations of 

  
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Subscriber and its subsidiaries, taken as a whole (a “Subscriber Material Adverse Effect”) or materially affect the legal authority of Subscriber to comply in all material
respects with the terms of this Subscription Agreement; (ii) if Subscriber is not an individual, result in any violation of the provisions of the organizational documents of Subscriber or any of its subsidiaries; or (iii) result in any
violation of any statute or any judgment, order, rule or regulation of any court or governmental agency or body, domestic or foreign, having jurisdiction over Subscriber or any of its subsidiaries or any of their respective properties that would
reasonably be expected to have a Subscriber Material Adverse Effect or materially affect the legal authority of Subscriber to comply in all material respects with this Subscription Agreement. 

d. Subscriber (i) is a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act of
1933, as amended (the “Securities Act”)) or an “accredited investor” (within the meaning of Rule 501(a) under the Securities Act) satisfying the applicable requirements set forth on Schedule A, (ii) is
acquiring the Acquired Shares only for its own account and not for the account of others, or if Subscriber is subscribing for the Acquired Shares as a fiduciary or agent for one or more investor accounts, each owner of such account is a qualified
institutional buyer and Subscriber has full investment discretion with respect to each such account, and the full power and authority to make the acknowledgements, representations and agreements herein on behalf of each owner of each such account,
and (iii) is not acquiring the Acquired Shares with a view to, or for offer or sale in connection with, any distribution thereof in violation of the Securities Act (and shall provide the requested information on Schedule A following the
signature page hereto). Subscriber is not an entity formed for the specific purpose of acquiring the Acquired Shares. 
 e.
Subscriber understands that the Acquired Shares are being offered in a transaction not involving any public offering within the meaning of the Securities Act and that the Acquired Shares have not been registered under the Securities Act. Subscriber
understands that the Acquired Shares may not be resold, transferred, pledged or otherwise disposed of by Subscriber absent an effective registration statement under the Securities Act, except (i) to the Company or a subsidiary thereof,
(ii) to non-U.S. persons pursuant to offers and sales that occur outside the United States within the meaning of Regulation S under the Securities Act or (iii) pursuant to another applicable
exemption from the registration requirements of the Securities Act, and that any certificates representing the Acquired Shares shall contain a legend to such effect. Subscriber acknowledges that the Acquired Shares will not be eligible for resale
pursuant to Rule 144A promulgated under the Securities Act. Subscriber understands and agrees that the Acquired Shares will be subject to transfer restrictions and, as a result of these transfer restrictions, Subscriber may not be able to readily
resell the Acquired Shares and may be required to bear the financial risk of an investment in the Acquired Shares for an indefinite period of time. Subscriber understands that it has been advised to consult legal counsel prior to making any offer,
resale, pledge or transfer of any of the Acquired Shares. 
 f. Subscriber understands and agrees that Subscriber is
purchasing the Acquired Shares directly from the Company. Subscriber further acknowledges that there have been no representations, warranties, covenants and agreements made to Subscriber by [(i) from Deutsche Bank Securities Inc. and Morgan
Stanley & Co. acting as placement agents (the “Placement Agents”) for the Company or their respective affiliates or any of their respective control persons, officers, directors or employees or (ii)]1 the Company or its affiliates or any of their respective officers or directors, expressly or by implication, other than those representations, warranties, covenants and agreements included in this
Subscription Agreement. 
  
  

	1 	 Included only in agreements involving Placement Agents. 

  
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 g. Subscriber represents and warrants that its acquisition and holding of
the Acquired Shares will not constitute or result in a non-exempt prohibited transaction under Section 406 of the Employee Retirement Income Security Act of 1974, as amended, Section 4975 of the
Internal Revenue Code of 1986, as amended, or any applicable similar law. 
 h. In making its decision to purchase the
Acquired Shares, Subscriber represents that it has relied solely upon independent investigation made by Subscriber [and has not relied on any statements or other information provided by the Placement Agents, any of their respective affiliates or any
of their respective control persons, officers, directors or employees concerning the Company, Shay Holding Corporation, the Transactions or the Acquired Shares.] Subscriber acknowledges and agrees that Subscriber has [received such]2[had access to, and an adequate opportunity to review, such financial and other]3 information as Subscriber deems necessary in order to make an
investment decision with respect to the Acquired Shares, including with respect to the Company, Shay Holding Corporation and the Transactions. Subscriber represents and agrees that Subscriber and Subscriber’s professional advisor(s), if any,
have had the full opportunity to ask such questions, receive such answers and obtain such information as Subscriber and such undersigned’s professional advisor(s), if any, have deemed necessary to make an investment decision with respect to the
Acquired Shares. 
 i. Subscriber became aware of this offering of the Acquired Shares solely by means of [direct contact
between Subscriber and the Company or by certain employees of The Gores Group LLC or its affiliates acting on the Company’s behalf]4[contact from the Placement Agents]5 and the Acquired Shares were offered to Subscriber solely by [direct]6 contact between Subscriber and the [Company or by certain employees of The
Gores Group LLC or its affiliates acting on the Company’s behalf]7[Placement Agents]8. Subscriber did not become aware of this offering of
the Acquired Shares, nor were the Acquired Shares offered to Subscriber, by any other means, and The Gores Group LLC or its affiliates did not act as investment adviser, broker or dealer to Subscriber. Subscriber acknowledges that the Company
represents and warrants that the Acquired Shares (i) were not offered by any form of general solicitation or general advertising and (ii) are not being offered in a manner involving a public offering under, or in a distribution in
violation of, the Securities Act, or any state securities laws. 
  

	2 	 Included only in agreements without Placement Agents’ involvement. 

	3 	 Included only in agreements involving Placement Agents. 

	4 	 Included only in agreements without Placement Agents’ involvement. 

	5 	 Included only in agreements involving Placement Agents. 

	6 	 Included only in agreements without Placement Agents’ involvement. 

	7 	 Included only in agreements without Placement Agents’ involvement. 

	8 	 Included only in agreements involving Placement Agents.

  
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 j. Subscriber acknowledges that it is aware that there are substantial risks
incident to the purchase and ownership of the Acquired Shares. Subscriber has such knowledge 
 and experience in financial and business
matters as to be capable of evaluating the merits and risks of an investment in the Acquired Shares, and Subscriber has sought such accounting, legal and tax advice as Subscriber has considered necessary to make an informed investment decision. 

k. Alone, or together with any professional advisor(s), Subscriber represents and acknowledges that Subscriber has adequately
analyzed and fully considered the risks of an investment in the Acquired Shares and determined that the Acquired Shares are a suitable investment for Subscriber and that Subscriber is able at this time and in the foreseeable future to bear the
economic risk of a total loss of Subscriber’s investment in the Company. Subscriber acknowledges specifically that a possibility of total loss exists. 

l. Subscriber understands and agrees that no federal or state agency has passed upon or endorsed the merits of the offering of
the Acquired Shares or made any findings or determination as to the fairness of this investment. 
 m. Subscriber represents
and warrants that Subscriber is not (i) a person or entity named on the List of Specially Designated Nationals and Blocked Persons administered by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) or
in any Executive Order issued by the President of the United States and administered by OFAC (“OFAC List”), or a person or entity prohibited by any OFAC sanctions program, (ii) a Designated National as defined in the Cuban
Assets Control Regulations, 31 C.F.R. Part 515, or (iii) a non-U.S. shell bank or providing banking services indirectly to a non-U.S. shell bank. Subscriber agrees
to provide law enforcement agencies, if requested thereby, such records as required by applicable law, provided that Subscriber is permitted to do so under applicable law. Subscriber represents that if it is a financial institution subject to the
Bank Secrecy Act (31 U.S.C. Section 5311 et seq.) (the “BSA”), as amended by the USA PATRIOT Act of 2001 (the “PATRIOT Act”), and its implementing regulations (collectively, the “BSA/PATRIOT
Act”), that Subscriber maintains policies and procedures reasonably designed to comply with applicable obligations under the BSA/PATRIOT Act. Subscriber also represents that, to the extent required, it maintains policies and procedures
reasonably designed for the screening of its investors against the OFAC sanctions programs, including the OFAC List. Subscriber further represents and warrants that, to the extent required, it maintains policies and procedures reasonably designed to
ensure that the funds held by Subscriber and used to purchase the Acquired Shares were legally derived. 
 n. Subscriber has
commitments to have, and prior to the Closing will have, sufficient funds to pay the Purchase Price in escrow pursuant to Section 2(a). 

5. Registration Rights. 

a. The Company agrees that, within thirty (30) calendar days after the consummation of the Transactions (the
“Filing Deadline”), the Company will file with the U.S. Securities and Exchange Commission (the “SEC”) (at the Company’s sole cost and expense) a registration statement to register under and in accordance with
the provisions of the Securities Act, the offer, sale and distribution of all Registrable Securities (as defined below) on Form S-3 (which shall be filed pursuant to Rule 415 under the Securities Act as a
secondary-only registration statement), if the Company is then eligible for such short form, or any similar or successor short form registration or, if the Company is not then eligible for such short form

  
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registration, on Form S-1 or any similar or successor long form registration (the “Registration Statement”). The Company shall use its
commercially reasonable efforts to have the Registration Statement declared effective by the SEC as soon as practicable after the filing thereof, but no later than the sixty (60) calendar days following the Filing Deadline (the
“Effectiveness Deadline”); provided, that the Effectiveness Deadline shall be extended to ninety (90) calendar days after the Filing Deadline if the Registration Statement is reviewed by, and receives comments from, the
SEC; provided, however, that the Company’s obligations to include the Acquired Shares in the Registration Statement are contingent upon Subscriber furnishing in writing to the Company such information regarding Subscriber, the securities
of the Company held by Subscriber and the intended method of disposition of the Acquired Shares as shall be reasonably requested by the Company to effect the registration of the Acquired Shares, and shall execute such documents in connection with
such registration as the Company may reasonably request that are customary of a selling stockholder in similar situations, including providing that the Company shall be entitled to postpone and suspend the effectiveness or use of the Registration
Statement during any customary blackout or similar period and including with respect to the effectiveness thereof or in the event the Registration Statement must be supplemented, amended or suspended. The Company will use its commercially reasonable
efforts to maintain the continuous effectiveness of the Registration Statement until all such securities cease to be Registrable Securities (as defined below) or such shorter period upon which all Subscribers with Registrable Securities included in
such Registration Statement have notified the Company that such Registrable Securities have actually been sold. The Company will use commercially reasonable efforts to file all reports, and provide all customary and reasonable cooperation, necessary
to enable Subscriber to resell Registrable Securities pursuant to the Registration Statement or Rule 144, as applicable, qualify the Registrable Securities for listing on the applicable stock exchange, update or amend the Registration Statement as
necessary to include Registrable Securities and provide customary notice to holders of Registrable Securities. “Registrable Securities” shall mean, as of any date of determination, the Acquired Shares and any other equity security
of the Company issued or issuable with respect to the Acquired Shares by way of share split, dividend, distribution, recapitalization, merger, exchange, replacement or similar event or otherwise. As to any particular Registrable Securities, once
issued, such securities shall cease to be Registrable Securities (i) when they are sold, transferred, disposed or exchanged pursuant to an effective Registration Statement under the Securities Act, (ii) the earliest of (A) two (2)
years, (B) such time that such holder has disposed such securities pursuant to Rule 144 or (C) if Rule 144(i) is no longer applicable to the Company or Rule 144(i)(2) is amended to remove the reporting requirement preceding a disposition
of securities, such time that such holder is able to dispose of all of its, his or her Registrable Securities pursuant to Rule 144 without any volume limitations thereunder, (iii) when they shall have ceased to be outstanding or (iv) when
such securities have been sold in a private transaction in which the transferor’s rights under this Section 5(a) are not assigned to the transferee of such securities. 

b. The Company shall, notwithstanding any termination of this Subscription Agreement, indemnify, defend and hold harmless
Subscriber (to the extent a seller under the Registration Statement), the officers, directors, trustees, agents, partners, members, managers, stockholders, affiliates, employees and investment advisers of each of them, each person who controls
Subscriber (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) and the officers, directors, trustees, agents, partners, members, managers, 

  
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stockholders, affiliates, employees and investment advisers of each such controlling person, to the fullest extent permitted by applicable law, from and against any and all losses, claims,
damages, liabilities, costs (including, without limitation, reasonable costs of preparation and investigation and reasonable attorneys’ fees) and expenses (collectively, “Losses”), as incurred, that arise out of or are based
upon (i) any untrue or alleged untrue statement of a material fact contained in the Registration Statement, any prospectus included in the Registration Statement or any form of prospectus or in any amendment or supplement thereto or in any
preliminary prospectus, or arising out of or relating to any omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein (in the case of any prospectus or form of prospectus or
supplement thereto, in light of the circumstances under which they were made) not misleading, or (ii) any violation or alleged violation by the Company of the Securities Act, Exchange Act or any state securities law or any rule or regulation
thereunder, in connection with the performance of its obligations under this Section 5, except insofar as and to the extent, but only to the extent, that such untrue statements, alleged untrue statements, omissions or
alleged omissions are based solely upon information regarding Subscriber furnished in writing to the Company by Subscriber expressly for use therein. The Company shall notify Subscriber promptly of the institution, threat or assertion of any
proceeding arising from or in connection with the transactions contemplated by this Section 5 of which the Company is aware. Such indemnity shall remain in full force and effect regardless of any investigation made by or on
behalf of an indemnified party and shall survive the transfer of the Acquired Shares by Subscriber. 
 c. Subscriber shall,
severally and not jointly with any other subscriber, indemnify and hold harmless the Company, its directors, officers, agents and employees, each person who controls the Company (within the meaning of Section 15 of the Securities Act and
Section 20 of the Exchange Act), and the directors, officers, agents or employees of such controlling persons, to the fullest extent permitted by applicable law, from and against all Losses, as incurred, arising out of or are based upon any
untrue or alleged untrue statement of a material fact contained in any Registration Statement, any prospectus included in the Registration Statement, or any form of prospectus, or in any amendment or supplement thereto or in any preliminary
prospectus, or arising out of or relating to any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of any prospectus, or any form of prospectus or supplement
thereto, in light of the circumstances under which they were made) not misleading to the extent, but only to the extent, that such untrue statements or omissions are based solely upon information regarding Subscriber furnished in writing to the
Company by Subscriber expressly for use therein. In no event shall the liability of Subscriber be greater in amount than the dollar amount of the net proceeds received by Subscriber upon the sale of the Acquired Shares giving rise to such
indemnification obligation.[ 
 d. [Subscriber agrees that neither Placement Agent nor any of their respective control
persons, officers, directors or employees shall be liable to Subscriber in connection with its purchase of the Acquired Shares absent gross negligence, bad faith or fraud on the part of any such Placement Agent or any of their respective control
persons, officers, directors or employees.]9 
  

	9 	 Included only in agreements involving Placement Agents. 

  
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 6. Termination. This Subscription Agreement shall terminate and be
void and of no further force and effect, and all rights and obligations of the parties hereunder shall terminate without any further liability on the part of any party in respect thereof, upon the earlier to occur of (a) such date and time as
the Merger Agreement is terminated in accordance with its terms, (b) upon the mutual written agreement of each of the parties hereto to terminate this Subscription Agreement or (c) if any of the conditions to Closing set forth in
Section 2 of this Subscription Agreement are not satisfied on or prior to the Closing and, as a result thereof, the transactions contemplated by this Subscription Agreement are not or will not be consummated at the Closing;
provided, that nothing herein will relieve any party from liability for any willful breach hereof (including for the avoidance of doubt Subscriber’s willful breach of Section 2(b)(ii) of this Subscription
Agreement with respect to its representations and warranties as of the Closing Date) prior to the time of termination, and each party will be entitled to any remedies at law or in equity to recover losses, liabilities or damages arising from such
breach. The Company shall promptly notify Subscriber of the termination of the Merger Agreement promptly after the termination of such agreement. 

7. Trust Account Waiver. Subscriber acknowledges that the Company is a blank check company with the powers and
privileges to effect a merger, asset acquisition, reorganization or similar business combination involving the Company and one or more businesses or assets. Subscriber further acknowledges that, as described in the Company’s prospectus relating
to its initial public offering dated September 6, 2018 (the “Prospectus”) available at www.sec.gov, substantially all of the Company’s assets consist of the cash proceeds of the Company’s initial public offering and
private placements of its securities, and substantially all of those proceeds have been deposited in a trust account (the “Trust Account”) for the benefit of the Company, its public stockholders and the underwriters of the
Company’s initial public offering. Except with respect to interest earned on the funds held in the Trust Account that may be released to the Company to pay its tax obligations, if any, the cash in the Trust Account may be disbursed only for the
purposes set forth in the Prospectus. For and in consideration of the Company entering into this Subscription Agreement, the receipt and sufficiency of which are hereby acknowledged, Subscriber, on behalf of itself and its representatives, hereby
irrevocably waives any and all right, title and interest, or any claim of any kind they have or may have in the future, in or to any monies held in the Trust Account, and agrees not to seek recourse against the Trust Account as a result of, or
arising out of, this Subscription Agreement. 
 8. Miscellaneous. 

a. Subscriber acknowledges that the Company and others will rely on the acknowledgments, understandings, agreements,
representations and warranties contained in this Subscription Agreement. Prior to the Closing, Subscriber agrees to promptly notify the Company if any of the acknowledgments, understandings, agreements, representations and warranties set forth
herein are no longer accurate in all material respects. 
 b. The Company is entitled to rely upon this Subscription
Agreement and is irrevocably authorized to produce this Subscription Agreement or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby. 

  
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 c. Neither this Subscription Agreement nor any rights that may accrue to
Subscriber hereunder (other than the Acquired Shares acquired hereunder, if any) may be transferred or assigned. 
 d. All
the agreements, representations and warranties made by each party hereto in this Subscription Agreement shall survive the Closing. 

e. The Company may request from Subscriber such additional information as the Company may deem necessary to evaluate the
eligibility of Subscriber to acquire the Acquired Shares, and Subscriber shall provide such information as may be reasonably requested, to the extent readily available and to the extent consistent with its internal policies and procedures. 

f. This Subscription Agreement may not be modified, waived or terminated except by an instrument in writing, signed by the
party against whom enforcement of such modification, waiver, or termination is sought. 
 g. This Subscription Agreement
constitutes the entire agreement, and supersedes all other prior agreements, understandings, representations and warranties, both written and oral, among the parties, with respect to the subject matter hereof. This Subscription Agreement shall not
confer any rights or remedies upon any person other than the parties hereto, and their respective successor and assigns, and the Stockholder Representative (as defined in the Merger Agreement), which shall be a third-party beneficiary to this
Subscription Agreement and shall be entitled to the rights and benefits hereunder and may enforce the provisions hereof as if it were a party hereto. 

h. Except as otherwise provided herein, this Subscription Agreement shall be binding upon, and inure to the benefit of the
parties hereto and their heirs, executors, administrators, successors, legal representatives, and permitted assigns, and the agreements, representations, warranties, covenants and acknowledgments contained herein shall be deemed to be made by, and
be binding upon, such heirs, executors, administrators, successors, legal representatives and permitted assigns. 
 i. If any
provision of this Subscription Agreement shall be invalid, illegal or unenforceable, the validity, legality or enforceability of the remaining provisions of this Subscription Agreement shall not in any way be affected or impaired thereby and shall
continue in full force and effect. 
 j. This Subscription Agreement may be executed in one or more counterparts (including
by facsimile or electronic mail or in .pdf) and by different parties in separate counterparts, with the same effect as if all parties hereto had signed the same document. All counterparts so executed and delivered shall be construed together and
shall constitute one and the same agreement. 
 k. The parties hereto agree that irreparable damage would occur in the event
that any of the provisions of this Subscription Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties shall be entitled to an injunction or injunctions to prevent
breaches of this Subscription Agreement and to enforce specifically the terms and provisions of this Subscription Agreement, this being in addition to any other remedy to which such party is entitled at law, in equity, in contract, in tort or
otherwise. 

  
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 l. THIS SUBSCRIPTION AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS THAT WOULD OTHERWISE REQUIRE THE APPLICATION OF THE LAW OF ANY OTHER STATE. EACH PARTY HERETO HEREBY WAIVES ANY RIGHT TO A JURY TRIAL IN
CONNECTION WITH ANY LITIGATION PURSUANT TO THIS SUBSCRIPTION AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY. 

  
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 IN WITNESS WHEREOF, each of the Company and Subscriber has executed
or caused this Subscription Agreement to be executed by its duly authorized representative as of the date set forth below. 
  

			
	 GORES HOLDINGS III, INC.

		
	 By:
	 	  

		 	 Name:

		 	 Title:

 Date: November 1, 2019 

[SIGNATURE PAGE TO SUBSCRIPTION AGREEMENT] 

							
	 SUBSCRIBER:
  

Signature of Subscriber:
	  	 Signature of Joint Subscriber, if applicable:

				
	 By:
	 	
                 

	  	 By:
	  	  

	 Name:
	  	 Name:

	 Title:
	  	 Title:

			
	
Date:                     ,
2019
	  		  	
		
	 Name of Subscriber:
	  	 Name of Joint Subscriber, if applicable:

		
	  
 (Please
print. Please indicate name and
 capacity of person signing above)
	  	  
 (Please
Print. Please indicate name and
 capacity of person signing above)

			
	  
 Name in
which shares are to be registered
 (if different):
	  		  	
			
	 Email
Address:                                       
     
	  		  	

  

			
		
	 If there are joint investors, please check one:
	  	
		
	 ☐ Joint Tenants with Rights of Survivorship
	  	
		
	 ☐ Tenants-in-Common
	  	
		
	 ☐ Community Property
	  	

  

					
	 Subscriber’s
EIN:                                        
                        
	 		  	 Joint Subscriber’s EIN:
                                         
       

			
	 Business Address-Street:
	 		  	 Mailing Address-Street (if different):

	  
	 		  	  

			
		 		  	
	  
 City, State,
Zip:
	 		  	  
 City, State,
Zip:

			
	 Attn:
	 		  	 Attn:

			
	 Telephone No.:
                                         
                       
	 		  	 Telephone
No.:                                        
                        

			
		
	 Facsimile No.: __________________________
	  	 Facsimile No.: ______________________

		
	 Aggregate Number of Acquired Shares subscribed for: __________________________
	  	
		
	 Aggregate Purchase Price10: $
____________
	  	

 You must pay the Purchase Price by wire transfer of United States dollars in immediately available funds to
the account specified by the Company in the Closing Notice. 
  

	10 	 This is the aggregate number of Acquired Shares subscribed for multiplied by the price per Acquired Share of
$9.20, without rounding. 

 SCHEDULE A 

ELIGIBILITY REPRESENTATIONS OF SUBSCRIBER 
  

	A.	 QUALIFIED INSTITUTIONAL BUYER STATUS 

(Please check the applicable subparagraphs): 
  

	 	1.	 ☐ We are a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act
(a “QIB”)). 

  

	 	2.	 ☐ We are subscribing for the Acquired Shares as a fiduciary or agent for one or more investor
accounts, and each owner of such account is a QIB. 

 ***OR*** 

 

	B.	 ACCREDITED INVESTOR STATUS 

(Please check the applicable subparagraphs): 
  

	 	1.	 ☐ We are an “accredited investor” (within the meaning of Rule 501(a) under the Securities
Act or an entity in which all of the equity holders are accredited investors within the meaning of Rule 501(a) under the Securities Act), and have marked and initialed the appropriate box on the following page indicating the provision under which we
qualify as an “accredited investor.” 

  

	 	2.	 ☐ We are not a natural person. 

***AND*** 
  

	C.	 AFFILIATE STATUS 

(Please check the applicable box) 

SUBSCRIBER: 
  

	 	☐	 is: 

  

	 	☐	 is not: 

an “affiliate” (as defined in Rule 144 under the Securities Act) of the Company or acting on behalf of an affiliate
of the Company. 
 This page should be completed by Subscriber 

and constitutes a part of the Subscription Agreement. 

  
 Schedule A-1 

 Rule 501(a), in relevant part, states that an “accredited investor” shall mean any
person who comes within any of the below listed categories, or who the issuer reasonably believes comes within any of the below listed categories, at the time of the sale of the securities to that person. Subscriber has indicated, by marking and
initialing the appropriate box below, the provision(s) below which apply to Subscriber and under which Subscriber accordingly qualifies as an “accredited investor.” 

☐ Any bank, registered broker or dealer, insurance company, registered investment company, business development company,
or small business investment company; 
 ☐ Any plan established and maintained by a state, its political subdivisions,
or any agency or instrumentality of a state or its political subdivisions for the benefit of its employees, if such plan has total assets in excess of $5,000,000; 

☐ Any employee benefit plan, within the meaning of the Employee Retirement Income Security Act of 1974, if a bank,
insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5,000,000; 

☐ Any organization described in Section 501(c)(3) of the Internal Revenue Code, corporation, Massachusetts or
similar business trust, or partnership, not formed for the specific purpose of acquiring the securities offered, with total assets in excess of $5,000,000; 

☐ Any director, executive officer, or general partner of the issuer of the securities being offered or sold, or any
director, executive officer, or general partner of a general partner of that issuer; 
 ☐ Any natural person whose
individual net worth, or joint net worth with that person’s spouse, at the time of his purchase exceeds $1,000,000. For purposes of calculating a natural person’s net worth: (a) the person’s primary residence must not be included
as an asset; (b) indebtedness secured by the person’s primary residence up to the estimated fair market value of the primary residence must not be included as a liability (except that if the amount of such indebtedness outstanding at the
time of calculation exceeds the amount outstanding 60 days before such time, other than as a result of the acquisition of the primary residence, the amount of such excess must be included as a liability); and (c) indebtedness that is secured by
the person’s primary residence in excess of the estimated fair market value of the residence must be included as a liability; 

☐ Any natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint
income with that person’s spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year; 

☐ Any trust with assets in excess of $5,000,000, not formed to acquire the securities offered, whose purchase is directed
by a sophisticated person; or 
 ☐ Any entity in which all of the equity owners are accredited investors meeting one or
more of the above tests. 

  
 Schedule A-2EX-10.1

 Exhibit 10.1 

THIRD AMENDMENT TO REGISTRATION RIGHTS AGREEMENTS 

This Third Amendment (this “Third Amendment”), dated as of October 29, 2019, is made to those certain
Registration Rights Agreements (the “Registration Rights Agreements”), dated as of July 11, 2019 (effective as of July 15, 2019), and August 15, 2019, and as amended on September 30, 2019 and on October 18,
2019, between Delcath Systems, Inc. (the “Company”) and the purchasers signatories thereto. Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Registration Rights Agreements. 

WHEREAS, pursuant to Section 2(d)(iv) of the Registration Rights Agreements, the Company will incur certain penalties if “a
Registration Statement registering for resale all of the Registrable Securities is not declared effective by the Commission by the Effectiveness Date of the Initial Registration Statement;” and 

WHEREAS, due to the inability of the Company to obtain clearance from the Financial Industry Regulatory Authority for its planned
reverse stock split, the Company will be unable to register all of the Registrable Securities on an effective registration statement by that date, and therefore would otherwise be liable to pay to all Holders the liquidated damages specified in
Section 2(d); and 
 WHEREAS, certain Holders (the “Withholding Holders”) have agreed to withhold from registration at
this time a portion of their Registrable Securities in order to enable the Company to register the Registrable Securities of all other Holders in full; and 

WHEREAS, as a result of such arrangement, the Registrable Securities held by each of the Holders other than the Withholding Holders can
now be fully registered on an effective Registration Statement; and 
 WHEREAS, pursuant to Section 6(f) of the Registration
Rights Agreements, the Registration Rights Agreements may be amended by the written consent of the Company and Holders of at least a majority in interest of the Registrable Securities; and 

WHEREAS, the Company and Holders of at least a majority in interest of the Registrable Securities desire to amend the Registration
Rights Agreements to clarify that the liquidated damages specified in Section 2(d) are not payable to any Holder whose own Registrable Securities have been fully registered on an effective Registration Statement which remains continuously
effective in accordance with the requirements of the Registration Rights Agreements. 
 NOW, THEREFORE, in consideration of
the premises set forth above, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree to add the following new sentence at the end of Section 2(d): 

“Notwithstanding anything to the contrary contained herein, the liquidated damages set forth in this Section 2(d) shall not be payable to any Holder
whose own Registrable Securities have been fully registered on an effective registration statement on the Effectiveness Date which remains continuously effective in accordance with the requirements of this Agreement.” 

 

 This Third Amendment to the Registration Rights Agreements set forth herein shall take effect upon receipt
of fully executed copies of this Third Amendment by Holders representing a majority in interest of the then outstanding Registrable Securities. 
 Except as
expressly set forth above, all of the terms and conditions of the Registration Rights Agreements shall continue in full force and effect after the execution of this agreement and shall not be in any way changed, modified or superseded by the terms
set forth herein. 
 This Third Amendment may be executed in two or more counterparts and by facsimile or “.pdf” signature or otherwise, and each
of such counterparts shall be deemed an original and all of such counterparts together shall constitute one and the same agreement. 

[signature pages follows] 

  
 2 

 This Amendment is effective as of the date hereof. 

 

			
	DELCATH SYSTEMS, INC.
	
	By: /s/ Jennifer K. Simpson

 
			
	Name: Jennifer K. Simpson
	Title:   President & CEO

 [Holder signature pages follow] 

  
 3 

 
			
	HOLDER: Bigger Capital Fund L.P.
	
	By: /s/ Michael Bigger                    

			
	Name: Michael Bigger
	Title:   Managing Member of GP

  

			
	HOLDER: District 2 Capital Fund L.P.
	
	By: /s/ Michael Bigger                    

			
	Name: Michael Bigger
	Title:   Managing Member of GP

 [Signature Page to DCTH Third Amendment] 

  
 4 

 
			
	HOLDER: Rosalind Master Fund LP (“RMF”)
	
	By: /s/ Steven
Salamon                                    

 
			
	Name: Steven Salamon
	Title:   President, Rosalind Advisors, Inc. (advisor to RMF)

 [Signature Page to DCTH Third Amendment] 

  
 5 

 
			
	HOLDER: Rosalind Opportunities Fund I LP (“ROFI”)
	
	By: /s/ Steven
Salamon                                    

 
			
	Name: Steven Salamon
	Title:   President, Rosalind Advisors, Inc. (advisor to ROFI)

 [Signature Page to DCTH Third Amendment] 

  
 6

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