Document:

sqbg_Ex10_4

		

			Exhibit 10.4

		

		

			 

		

		

			Execution Version

		

		
			 
		

		
			May 15, 2020
		

		
			VIA EMAIL
		

		
			 
		

		
			Sequential Brands Group, Inc.
		

		
			601 West 26th Street 
		

		
			9th Floor
		

		
			New York, NY 10001
		

		
			Attention: Mr. David Conn 
		

		
			 
		

		
			RE:Proposed SBA Loan
		

		
			Dear Mr. Conn:
		

		
			 
		

		
			We refer to that certain Third Amended and Restated Credit Agreement,  dated as of July 1, 2016 (as amended, modified, supplemented and restated from time to time, the “Credit Agreement”) by and among Sequential Brands Group, Inc., a Delaware corporation (“Borrower” or “you”), the Guarantors party thereto, the Lenders from time to time party thereto and Wilmington Trust, National Association, as Agent for the Lenders thereunder (in such capacity and together with its successors and assigns, “Agent” or “us”) for the Lenders.  Capitalized terms used but not defined herein shall have the meaning set forth in the Credit Agreement.
		

		
			 
		

		
			You have informed us that you intend to incur certain loan obligations in reliance on the Small Business Administration’s Paycheck Protection Program (the “Paycheck Protection Program”) under the Coronavirus Aid,  Relief,  and Economic Security Act (P.L. 116-136) (the “CARES Act”) in an aggregate principal amount of up to $769,295 (the “SBA Loan”; and the unsecured Indebtedness evidenced thereby, the “SBA Loan Debt”).  The incurrence of the SBA Loan Debt requires the consent of Agent (at the direction of the Required Lenders) under the Credit Agreement, and accordingly, you have requested our consent to incur the SBA Loan Debt.  Agent (at the direction of the Required Lenders) hereby consents to the incurrence of the SBA Loan Debt and agrees that, notwithstanding anything to the contrary contained in the Credit Agreement, such SBA Loan Debt shall constitute Permitted Indebtedness under the terms of Section 7.03 of the Credit Agreement, Indebtedness and Consolidated Total Indebtedness for all purposes under the Credit Agreement and other Loan Documents, including, without limitation, for purposes of calculating the financial covenants under Section 7.15 of the Credit Agreement, subject to the following terms and conditions:
		

		
			 
		

			
	
			
				 (a)
			

			
	
			
			Borrower shall have submitted all required forms, applications and certificates required for, and shall have been conditionally approved to receive, the SBA Loan under the Paycheck Protection Program;  

		
			 
		

			
	
			
				 (b)
			

			
	
			
			Borrower shall (i) at all times comply with all terms applicable to the SBA Loan, including without limitation, any requirements with respect to the use of proceeds of the SBA Loan, and (ii) make only regularly scheduled payments of interest accruing 

		 

		

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	on, and to the extent required under, the SBA Loan at a rate not exceeding 1.0% per annum in respect thereof;

		
			 
		

			
	
			
				 (c)
			

			
	
			
			Prior to the effectiveness of the foregoing consent, Agent and the Lenders shall have received a corresponding consent from all applicable third parties to the extent such consent is required in connection with the SBA Loan or this consent (collectively, the “Required Consents”);

		
			 
		

			
	
			
				 (d)
			

			
	
			
			Borrower shall furnish to Agent and the Lenders (it being understood that the Borrower may send each of the following via e-mail to the Agent and Lender’s e-mail addresses specified on Schedule 10.02 of the Credit Agreement): (i) no later than the 15th day of each calendar month, a detailed description of how the proceeds of the SBA Loan have been applied by Borrower (and, if applicable, the other Loan Parties and their Subsidiaries)  through the end of the immediately prior 14-day period, (ii) no later than the 29th day of each calendar month, a detailed description of how the proceeds of the SBA Loan have been applied by Borrower (and, if applicable, the other Loan Parties and their Subsidiaries)  through the end of the immediately prior 14-day period, (iii) promptly and in any event within five (5) Business Days after submission, copies of all documents submitted by Borrower to request and justify forgiveness of the SBA Loan Debt, and (iv)  promptly and in any event within five (5) Business Days after receipt, copies of any notices received by the applicable lender or Governmental Authority with respect to the SBA Loan;

		
			 
		

			
	
			
				 (e)
			

			
	
			
			(i) By not later than June 5, 2020 (or such later date as the KKR Representative may agree in its sole discretion), Borrower shall cause all proceeds of the SBA Loan (and no other funds) to be deposited in into a segregated deposit account (the “SBA Loan Account”), which such deposit account shall constitute an Excluded Account; (ii) Borrower shall use funds from the SBA Loan Account solely for the purposes set forth in Section 1106(b) of the CARES Act and otherwise in compliance with all other provisions or requirements of the CARES Act applicable in order for the SBA Loan Debt to be eligible for forgiveness and (iii) Borrower shall apply for, and submit all documents required to obtain, forgiveness or other relief of the SBA Loan Debt by all deadlines required by the CARES Act; and

		
			 
		

			
	
			
				 (f)
			

			
	
			
			In no event shall Borrower or any Loan Party or any of their respective Affiliates directly or indirectly purchase, redeem, defease, prepay or repay any principal of, premium, if any, interest or other amount payable in respect of seventy-five percent (75%) of the initial principal amount of the SBA Loan Debt, other than (i) the cancellation and forgiveness of all or any portion of the SBA Loan Debt, (ii) if funded from funds in the SBA Loan Account,  or (iii) to the extent Agent otherwise consents in writing at the direction of the Required Lenders in their sole discretion.

		
			 
		

		
			The Borrower agrees that any failure to comply with any of the foregoing conditions that occurs (and in the case of any such failure to comply which is capable of being cured has not been cured within three (3) Business Days) shall constitute an immediate and automatic Event of Default.
		

		
			 
		

		
			

		 

		

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			The Borrower hereby represents and warrants to Agent and the Lenders that (i) the Borrower has determined in good faith, after consultation with counsel on all matters related to the SBA Loan, that it is eligible to apply as a borrower under the Paycheck Protection Program, including the application of the Paycheck Protection Program’s affiliation rules, and have taken into consideration in making such determination the Interim Final Rule and all FAQs issued by the Small Business Administration as of the date hereof, including determining that the current economic uncertainty makes the loan request necessary to support its ongoing operations taking into account Borrower’s current business activity and its ability to access other sources of liquidity sufficient to support its ongoing operations in a manner that is not significantly detrimental to the business; (ii) all applications, documents and other information submitted to any Governmental Authority with respect to the SBA Loan were at the time of submission, and continue to be, true and correct in all material respects as of the date hereof;  (iii) neither the Agent nor any Lender or any Affiliates thereof are deemed an “affiliate” of any Loan Party or any of its Subsidiaries for any purpose related to the SBA Loan, including the eligibility criteria with respect thereto; (iv) Borrower is responsible for making its own independent judgment with respect to the SBA Loan and the process leading thereto, and it has not relied on Agent, any Lender or any of their affiliates with respect to any of such matters; and (v) after giving effect to this consent, the execution, delivery and performance of the documents governing the SBA Loan do not conflict with or violate the terms of the Credit Agreement and the other Loan Documents and the rights and remedies of Agent and the Lenders thereunder.  Borrower hereby further represents and warrants that all of the Required Consents have been obtained on or prior to the date hereof. 
		

		
			 
		

		
			Each Loan Party agrees that it will not make any claim that Agent, any Lender or any of their affiliates have rendered advisory services of any nature or respect in connection with the SBA Loan,  the Paycheck Protection Program or the process leading thereto.
		

		
			 
		

		
			In addition to and the foregoing, Borrower, Guarantors and Agent hereby agree as follows: 
		

		
			 
		

			
	
			
				 1.
			The consent set forth in this letter agreement is effective solely for the purposes set forth herein and shall be limited precisely as written and shall not be deemed to: (a) except as expressly provided herein, be a consent to any amendment, waiver or modification of any term or condition of the Credit Agreement or of any other Loan Document, which shall remain and continue in full force and effect; (b) prejudice any right that Agent or the Lenders have or may have in the future under or in connection with the Credit Agreement or any other Loan Document;  (c) waive any Default and/or Event of Default that may exist and is continuing as of the date hereof or occur hereafter; or (d) establish a custom or course of dealing among Borrower or any other Loan Party, on the one hand, and Agent or any Lender, on the other hand.

		
			 
		

			
	
			
				 2.
			Borrower and Agent hereby acknowledge and agree that this letter agreement constitutes a Loan Document and that this letter agreement cannot be modified or terminated except with the written consent of each of the undersigned.  

		
			 
		

			
	
			
				 3.
			The provisions of the Credit Agreement regarding choice of law, jurisdiction, venue and jury trial waiver are expressly incorporated herein and shall govern this letter agreement.  No Person other than the parties hereto, shall have any rights hereunder or be entitled to rely on this letter agreement and all third-party beneficiary rights are hereby expressly disclaimed.

		
			 
		

		
			

		 

		

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				 4.
			This letter agreement may be executed in any number of counterparts and by any combination of the parties hereto in separate counterparts, each of which counterparts shall be an original and all of which taken together shall constitute one and the same letter agreement.  Electronic signatures shall have the same effect as original signatures.  This letter agreement shall become effective as of the date first above written when counterparts of this letter agreement shall have been executed by the Loan Parties, the Lenders and Agent.

		
			 
		

			
	
			
				 5.
			The Lenders party hereto, constituting the Required Lenders under the Credit Agreement, hereby direct and authorize (acting pursuant to and subject to the provisions of the Credit Agreement, including Section 9 thereof) the Agent to execute and deliver this letter agreement.

		
			 
		

			
	
			
				 6.
			Each Loan Party hereby acknowledges that:  (a) it has no defenses, claims or set‐offs to the enforcement by Agent or Lenders of the Obligations on the date hereof; (b) to its knowledge, Agent and the Lenders have fully performed all undertakings and obligations owed to it as of the date hereof; and (c) except to the limited extent expressly set forth in this letter agreement, Agent and Lenders do not waive, diminish or limit any term or condition contained in the Credit Agreement or any of the other Loan Documents.  

		
			 
		

		
			Please counter-sign this letter agreement below to indicate your consent and agreement to the terms and conditions set forth herein.
		

		
			

		 

		

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			Sincerely,
		

		
			WILMINGTON TRUST, NATIONAL ASSOCIATION, as Agent
		

		
			By: /s/ David Bergstrom_______________________________________________________________________________
		

		
			Name: David Bergstrom
		

		
			Title: Vice President
		

		
			 
		

		
			 
		

		
			 
		

		
			

		 

		

			[Signature Page to Consent Letter – Sequential Brands Group, Inc.]

		

		

			 

		

		

			 

		

		

			 

		

		

		
			Borrower, each Guarantor and each Lender hereby acknowledges, understands and agrees to the terms and conditions set forth above, and have caused this letter agreement to be duly executed by their respective authorized officers as of the day and year first above written.
		

		
			BORROWER:
		

		
			 
		

		
			SEQUENTIAL BRANDS GROUP, INC. 
		

		
			 
		

		
			By /s/ David Conn
Name:  David Conn
Title:  Chief Executive Officer
		

		
			 
		

		
			 
		

		
			GUARANTORS:
		

		
			SQBG, INC.
		

		
			By:  /s/ David Conn
Name:  David Conn
Title:  Chief Executive Officer
		

		
			SEQUENTIAL LICENSING, INC.
		

		
			By:  /s/ David Conn
Name:  David Conn
Title:  Chief Executive Officer
		

		
			WILLIAM RAST LICENSING, LLC
		

		
			By:  /s/ David Conn
Name:  David Conn
Title:  Chief Executive Officer
		

		
			HEELING SPORTS LIMITED  
		

		
			By:  /s/ David Conn
Name:  David Conn
Title:  Chief Executive Officer
		

		
			 
		

		
			 
		

		
			

		 

		

			[Signature Page to Consent Letter – Sequential Brands Group, Inc.]

		

		

			 

		

		

			 

		

		

			 

		

		

		
			B®AND MATTER, LLC
		

		
			By: /s/ David Conn
Name:  David Conn
Title:  Chief Executive Officer
		

		
			 
		

		
			SBG FM, LLC
		

		
			By:  /s/ David Conn
Name:  David Conn
Title:  Chief Executive Officer
		

		
			 
		

		
			SBG UNIVERSE BRANDS, LLC
		

		
			By:  /s/ David Conn
Name:  David Conn
Title:  Chief Executive Officer
		

		
			 
		

		
			GALAXY BRANDS LLC
		

		
			By:  /s/ David Conn
Name:  David Conn
Title:  Chief Executive Officer
		

		
			 
		

		
			The Basketball Marketing Company, Inc. 
		

		
			By:  /s/ David Conn
Name:  David Conn
Title:  Chief Executive Officer
		

		
			 
		

		
			AMERICAN SPORTING GOODS CORPORATION
		

		
			By:  /s/ David Conn
Name:  David Conn
Title:  Chief Executive Officer
		

		
			

		 

		

			[Signature Page to Consent Letter – Sequential Brands Group, Inc.]

		

		

			 

		

		

			 

		

		

			 

		

		

		
			LNT BRANDS LLC 
		

		
			By:  /s/ David Conn
Name:  David Conn
Title:  Chief Executive Officer
		

		
			 
		

		
			JOE’S HOLDINGS LLC
		

		
			By:  /s/ David Conn
Name:  David Conn
Title:  Chief Executive Officer
		

		
			 
		

		
			GAIAM BRAND HOLDCO, LLC
		

		
			By:  /s/ David Conn
Name:  David Conn
Title:  Chief Executive Officer
		

		
			GAIAM AMERICAS, INC.
		

		
			By:  /s/ David Conn
Name:  David Conn
Title:  Chief Executive Officer
		

		
			SBG-GAIAM HOLDINGS, LLC
		

		
			By:  /s/ David Conn
Name:  David Conn
Title:  Chief Executive Officer
		

		
			 
		

		
			 
		

		
			

		 

		

			[Signature Page to Consent Letter – Sequential Brands Group, Inc.]

		

		

			 

		

		

			 

		

		

			 

		

		

		
			LENDERS:
		

		
			 
		

		
			FS KKR CAPITAL CORP.
		

		
			 
		

		
			By: /s/ Jessica Woolf_______________
		

		
			Name: Jessica Woolf
		

		
			Title: Authorized Signatory
		

		
			                          
		

		
			FS KKR MM CLO 1 LLC
		

		
			 
		

		
			By: /s/ Jessica Woolf_______________
		

		
			Name: Jessica Woolf
		

		
			Title: Authorized Signatory
		

		
			 
		

		
			 
		

		
			DARBY CREEK LLC
		

		
			 
		

		
			By: /s/ Jessica Woolf_______________
		

		
			Name: Jessica Woolf
		

		
			Title: Authorized Signatory
		

		
			 
		

		
			 
		

		
			FS KKR CAPITAL CORP. II
		

		
			 
		

		
			By: /s/ Jessica Woolf_______________
		

		
			Name: Jessica Woolf
		

		
			Title: Authorized Signatory
		

		
			 
		

		
			 
		

		
			DUNLAP FUNDING LLC
		

		
			 
		

		
			By: /s/ Jessica Woolf_______________
		

		
			Name: Jessica Woolf
		

		
			Title: Authorized Signatory
		

		
			 
		

		
			 
		

		
			

		 

		

			[Signature Page to Consent Letter – Sequential Brands Group, Inc.]

		

		

			 

		

		

			 

		

		

			 

		

		

		
			LENDERS:  
		

		
			 
		

		
			APOLLO CENTRE STREET PARTNERSHIP, L.P.
		

		
			By: Apollo Centre Street Advisors (APO DC), L.P., its general partner
		

		
			By: Apollo Centre Street Advisors (APO DC‐GP), LLC, its general partner
		

		
			 
		

		
			By: /s/ Joseph D. Glatt____________
		

		
			Name: Joseph D. Glatt
		

		
			Title: Vice President
		

		
			 
		

		
			 
		

		
			APOLLO UNION STREET PARTNERS, L.P.
		

		
			By: Apollo Union Street Advisors, L.P., its General Partner
		

		
			By: Apollo Union Street Capital Management, LLC, its General Partner
		

		
			 
		

		
			By: /s/ Joseph D. Glatt____________
		

		
			Name: Joseph D. Glatt
		

		
			Title: Vice President
		

		
			 
		

		
			 
		

		
			APOLLO KINGS ALLEY CREDIT FUND, LP
		

		
			By: Apollo Kings Alley Credit Advisors, L.P., its general partner
		

		
			By: Apollo Kings Alley Credit Capital Management, LLC, its general partner
		

		
			 
		

		
			By: /s/ Joseph D. Glatt____________
		

		
			Name: Joseph D. Glatt
		

		
			Title: Vice President
		

		
			 
		

		
			 
		

		
			APOLLO MOULTRIE CREDIT FUND, L.P.
		

		
			By: Apollo Moultrie Credit Fund Management, LLC, its investment manager
		

		
			 
		

		
			By: /s/ Joseph D. Glatt____________
		

		
			Name: Joseph D. Glatt
		

		
			Title: Vice President
		

		
			 
		

		
			 
		

		
			

		 

		

			[Signature Page to Consent Letter – Sequential Brands Group, Inc.]

		

		

			 

		

		

			 

		

		

			 

		

APOLLO TACTICAL VALUE SPN INVESTMENTS, L.P.
		

		
			By: Apollo Tactical Value SPN Advisors (APO DC), L.P., its General Partner
		

		
			By: Apollo Tactical Value SPN Capital Management (APO DC-GP), LLC, its General Partner
		

		
			 
		

		
			By: /s/ Joseph D. Glatt____________
		

		
			Name: Joseph D. Glatt
		

		
			Title: Vice President
		

		
			 
		

		
			 
		

		
			APOLLO INVESTMENT CORPORATION
		

		
			By: Apollo Investment Management, L.P., as Advisor
		

		
			By: ACC Management, LLC, as its General Partner
		

		
			 
		

		
			By: /s/ Joseph D. Glatt____________
		

		
			Name: Joseph D. Glatt
		

		
			Title: Vice President
		

		
			 
		

		 

		

			[Signature Page to Consent Letter – Sequential Brands Group, Inc.]Exhibit 10.1 

 

IDEANOMICS, INC.

 

May 20, 2020

 

Holder of 10% Senior Secured Convertible
Debentures

 

	 	Re:	Amendment and Waiver of Convertible Debentures

 

Dear Holder:

 

Reference is made to
the following securities of Ideanomics, Inc. (the “Company”) beneficially owned by you (the “Holder”):
(i) the 10% Senior Secured Convertible Debenture issued on February 22, 2019 (“February 2019 Debenture”), (ii)
the 10% Original Issue Discount Senior Convertible Debenture, issued on September 27, 2019, as amended (the “September
2019 Debenture”), (iii) the 10% Senior Secured Convertible Debenture issued on October 29, 2019 (“October 2019
Debenture”), (iv) the 10% Senior Secured Convertible Debenture issued on November 8, 2019 (“November 8, 2019
Debenture”), (v) the 10% Senior Secured Convertible Debenture issued on November 13, 2019 (“November 13, 2019
Debenture”), (vi) the 10% Senior Secured Convertible Debenture issued on November 27, 2019 (the “November 27, 2019
Debenture” and together with the aforementioned debentures, the “Debentures”), (vii) the Series A Common
Stock Purchase Warrants issued on February 22, 2019 (“Series A Warrants”), (viii) the Series A-2 Common Stock
Purchase Warrants issued on September 27, 2019 (the “Series A-2 Warrants”), (ix) the Series A-3 Common Stock
Purchase Warrant issued on October 29, 2019 (the “Series A-3 Warrants”), (x) the Series A-4 Common Stock Purchase
Warrant issued on November 8, 2019 (the “Series A-4 Warrants”), (viii) a Series A-5 Common Stock Purchase Warrant
issued on November 13, 2019 (the “Series A-5 Warrants”) and (ix) a Series A-6 Common Stock Purchase Warrant
issued on November 27, 2019 (the “Series A-6 Warrants” and together with the aforementioned warrants, the “Warrants”).
You agree to waive any right to have the Exercise Price of the Warrants and Conversion Price of the Debentures (which shall include
all currently outstanding Warrants and Debentures you have with respect to the Company) adjusted solely in connection with one
or more drawdowns from time to time on or before June 1, 2020 of up to, in the aggregate, $3,000,000 (the “Financing”)
pursuant to the Company’s stock equity distribution line (“SEDL”); provided, however, that
this waiver shall only apply to draw downs during such period for an effective net per share price to the Company of $0.36 or greater,
subject to adjustment for reverse and forward stock splits and the like. Capitalized terms not otherwise defined herein shall
have the meanings set forth in the Debentures and Warrants.

 

The Company hereby
agrees to permanently reduce the Conversion Price of $1 million principal amount of Debentures held by the Holder to the lowest
price per share for shares sold pursuant to the Financing, subject to adjustment thereunder (“Adjusted Price”).
On or before 5 p.m. ET on June 1, 2020, the Company shall provide the Holder with a written representation from the Company’s
Chief Financial Officer as to the Adjusted Price. The Holder, in its sole discretion by written notice to the Company, may indicate
which Debentures are so adjusted.

 

The Company shall reimburse
the Holder $10,000 upon the execution of this agreement for its legal fees and expenses incurred in connection with the drafting
and negotiation of this agreement.

 

On or before 9:00 am
ET on May 21, 2020, the Company shall issue a press release or file a Current Report on Form 8-K with the SEC disclosing all material
terms of the transactions contemplated hereunder. The Company represents, warrants and covenants that, upon acceptance of this
offer, the shares underlying the Debentures shall be issued free of any legends or restrictions on resale by Holder and all of
the Conversion Shares shall be delivered electronically through the Depository Trust Company within 1 Business Day of the date
the Company receives the Notice of Conversion (or, with respect to Conversion Shares that would otherwise be in excess of the Beneficial
Ownership Limitation, within 2 Business Days of the date the Company is notified by Holder that its ownership is less than the
Beneficial Ownership Limitation). The terms of the Debentures, including but not limited to the obligations to deliver the Conversion
Shares, shall otherwise remain in effect as if the acceptance of this offer were a formal Notice of Conversion (including but not
limited to any liquidated damages and compensation in the event of late delivery of the Conversion Shares).

 

     

     

    

 

The Company acknowledges
and agrees that the obligations of the Holders under this letter agreement are several and not joint with the obligations of any
other holder or any other holders of Debentures and Warrants to Purchase Common Stock of the Company (each, an “Other
Holder”) under any other agreement related to the conversion of debentures or exercise of such warrants (“Other
Agreement”), and the Holder shall not be responsible in any way for the performance of the obligations of any Other Holder
or under any such Other Agreement. Additionally, the Company represents and warrants to the Holder that no other consideration
has been paid to any other part to waive or consent to the Financing or the transactions contemplated hereunder. Nothing contained
in this letter agreement, and no action taken by the Holders pursuant hereto, shall be deemed to constitute the Holder and the
Other Holders as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Holder
and the Other Holders are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated
by this letter agreement and the Company acknowledges that the Holder and the Other Holders are not acting in concert or as a group
with respect to such obligations or the transactions contemplated by this letter agreement or any Other Agreement. The Company
and the Holder confirm that the Holder has independently participated in the negotiation of the transactions contemplated hereby
with the advice of its own counsel and advisors. The Holder shall be entitled to independently protect and enforce its rights,
including, without limitation, the rights arising out of this letter agreement, and it shall not be necessary for any Other Holder
to be joined as an additional party in any proceeding for such purpose.

 

The Company hereby
represents and warrants as of the date hereof and covenants and agrees that none of the terms offered to any Other Holder with
respect to any Other Agreement (or any amendment, modification or waiver thereof), is or will be more favorable to such Other Holder
than those of the Holder and this letter agreement. If, and whenever on or after the date hereof, the Company enters into an Other
Agreement, then (i) the Company shall provide notice thereof to the Holder promptly following the occurrence thereof and (ii) the
terms and conditions of this letter agreement shall be, without any further action by the Holder or the Company, automatically
amended and modified in an economically and legally equivalent manner such that the Holder shall receive the benefit of the more
favorable terms and/or conditions (as the case may be) set forth in such Other Agreement, provided that upon written notice to
the Company at any time the Holder may elect not to accept the benefit of any such amended or modified term or condition, in which
event the term or condition contained in this letter agreement shall apply to the Holder as it was in effect immediately prior
to such amendment or modification as if such amendment or modification never occurred with respect to the Holder. The provisions
of this paragraph shall apply similarly and equally to each Other Agreement.

 

***************

 

     

     

    

 

To accept this offer,
Holder must counter execute this letter agreement and return the fully executed agreement to the Company by e-mail at:apoor@ideanomics.com
on or before 5 p.m. Eastern on May 20, 2020.

 

Please do not hesitate
to call me if you have any questions.

 

	 	Sincerely yours, 	 
	 	 	 	 
	 	IDEANOMICS, INC.	 
	 	 	 	 
	 	 	 	 
	 	By:	                	 
	 	Name:  Alfred Poor	 
	 	Title:    Chief Executive Officer	 

 

Accepted and Agreed to:

 

Name of Holder: ________________________________________________________

 

Signature of Authorized Signatory of
Holder: _________________________________

 

Name of Authorized Signatory: _______________________________________________

 

Title of Authorized Signatory: ________________________________________________

 

Conversion Shares:

 

 

DTC Instructions:

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