Document:

Exhibit 10.2

 

 

August 23, 2016

 

 

Landcadia Holdings, Inc.

1510 West Loop South

Houston, Texas 77027

 

Re: Initial Public Offering

 

This letter (this “Letter
Agreement”) is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting
Agreement”) entered into by and between Landcadia Holdings, Inc., a Delaware corporation (the “Company”),
and Jefferies LLC and Deutsche Bank Securities Inc., as representatives of the several underwriters (the “Underwriters”),
relating to the underwritten initial public offering (the “Public Offering”), of 28,750,000 of the Company’s
units (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 warrant (each, a “Warrant”).
Each Warrant entitles the holder thereof to purchase one-half of one share of Common Stock at a price of $5.75 per one-half share
($11.50 per whole share), subject to adjustment. The Units were sold in the Public Offering pursuant to a registration statement
on Form S-1 (File No. 333-210980) and prospectus (the “Prospectus”) filed by the Company with the Securities
and Exchange Commission (the “Commission”). Certain capitalized terms used herein are defined in paragraph
9 hereof.

 

For good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agrees with the Company as
follows:

 

1. The undersigned
agrees that if the Company seeks stockholder approval of a proposed Business Combination, then in connection with such proposed
Business Combination, he or she shall vote all the Founder Shares (as defined in paragraph 9 hereof) owned by him and any shares
of Common Stock acquired by him in the Public Offering or the secondary public market in favor of such proposed Business Combination.

  

2. The undersigned
hereby agrees that in the event that the Company fails to consummate a Business Combination (as defined in paragraph 9 hereof)
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 second amended and restated certificate of incorporation, he or she 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, 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 (as defined in paragraph 9 hereof) including interest (less taxes payable and up to $50,000 of interest to
pay dissolution expenses), 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 liquidation 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 undersigned agrees that he or she will not propose any amendment to the Company’s second amended and restated certificate
of incorporation that would affect 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 shares of Common Stock 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 including interest (which
interest shall be net of taxes payable), divided by the number of then outstanding Offering Shares.

 

     

     

    

 

The undersigned acknowledges
that 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. The undersigned hereby further
waives, with respect to any Founder Shares or shares of Common Stock held by him or her, any redemption rights he or she may have
in connection with a stockholder vote to amend the Company’s second amended and restated certificate of incorporation to
modify the substance or timing of the Company’s obligation to redeem 100% of the shares of Common Stock if the Company does
not complete a Business Combination within 24 months from the closing of the Public Offering. The undersigned hereby further waives,
with respect to any Founder Shares or shares of Common Stock held by him or her, any redemption rights 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. The undersigned shall be entitled to redemption and liquidation rights with respect to any shares of Common Stock he or
she holds if the Company fails to consummate a Business Combination within 24 months from the date of the closing of the Public
Offering.

 

3. Notwithstanding
the provisions set forth in paragraphs 5(a) and (b) below and except for the permitted Transfers described in paragraph 5(c) below,
during the period commencing on the effective date of the Underwriting Agreement and ending 180 days after the effective date of
the Prospectus, the undersigned shall not (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, and the rules and regulations of the Commission promulgated thereunder, with respect to any Units, shares of Common Stock,
Warrants or any securities convertible into, or exercisable, or exchangeable for, shares of Common Stock owned by 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 Common Stock, Warrants or any securities convertible into, or exercisable, or exchangeable for, shares
of Common Stock owned by 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, including the filing of a registration statement specified
in clause (i) or (ii). The foregoing sentence shall not apply to the registration of the offer and sale of Units contemplated by
the Underwriting Agreement. The undersigned 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 5 below, the Company shall announce the impending release or waiver
by press release through a major news service at least two (2) business days before the effective date of the release or waiver.
Any release or waiver granted shall only be effective two (2) business days after the publication date of such press release.

  

4. (a) The undersigned
hereby agrees not to participate in the formation of, or become an officer or director of, any other blank check company that unless
and until the Company has entered into a definitive agreement with respect to a Business Combination or the Company has failed
to complete a Business Combination within 24 months after the closing of the Public Offering.

 

(b) The undersigned
hereby agrees and acknowledges that: (i) each of the Underwriters and the Company would be irreparably injured in the event of
a breach by the undersigned of his obligations under paragraphs 1, 2, 3, 4(a), 5(a), 5(b) and 8 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.

 

5. (a) The undersigned
agrees not to Transfer (as defined in paragraph 9 hereof) any Founder Shares until one year after the date of the consummation
of a Business Combination or earlier if, subsequent to a Business Combination, (i) 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 consummation of a Business Combination
or (ii) the Company consummates a subsequent liquidation, merger, stock exchange or other similar transaction which 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 undersigned
agrees that he or she shall not effectuate any Transfer of Sponsor Warrants (as defined in paragraph 9 hereof) or Common Stock
underlying such warrants until 30 days after the completion of a Business Combination (the “Sponsor Warrants Lock-up
Period”, together with the Founder Shares Lock-up Period, the “Lock-up Periods”).

  

    2 

     

    

 

(c) Notwithstanding
the provisions set forth in paragraphs 3 and 5(a) and (b), Transfers of the Founder Shares, Sponsor Warrants and shares of Common
Stock issued or issuable upon the exercise or conversion of the Sponsor Warrants 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 Sponsors
or their affiliates, or any affiliates of the Sponsors, (b) in the case of an individual, 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, by virtue of laws of descent and distribution upon
death of the individual; (d) in the case of an individual, pursuant to a qualified domestic relations order; (e) 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) by virtue of the laws of the state of Delaware or the organizational documents of either
of the Sponsors upon dissolution of the respective Sponsor; (g) in the event of the Company’s liquidation prior to the completion
of a Business Combination; or (h) in the event of the Company’s completion of a liquidation, merger, stock exchange or other
similar transaction which results in all of the Company’s stockholders having the right to exchange their Founder Shares
or shares of Common Stock for cash, securities or other property subsequent to the completion of a Business Combination; provided,
however, that in the case of clauses (a) through (e) these permitted transferees must enter into a written agreement agreeing
to be bound by these transfer restrictions.

 

6. The undersigned’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 undersigned’s background. The undersigned’s
questionnaire furnished to the Company is true and accurate in all respects. The undersigned represents and warrants that: the
undersigned 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; the undersigned 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 the undersigned is not currently a defendant
in any such criminal proceeding; and the undersigned 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.

 

7.
Except as disclosed in the Prospectus, neither the undersigned nor any affiliate of the undersigned 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
of the Public Offering held in the Trust Account prior to the completion of a Business Combination: repayment of up to an aggregate
of $200,000 in loans or advances made to the Company by the Sponsors pursuant to promissory notes dated September 15, 2015; payment
of an aggregate of $10,000 per month to the FEI Sponsor for office space, secretarial and administrative services provided to members
of the Company’s management team by the FEI Sponsor pursuant to an Administrative Services Agreement to be entered into concurrent
with the closing of the Public Offering; reimbursement for any reasonable out-of-pocket expenses related to identifying, investigating
and completing an initial Business Combination; payment of a customary financial advisory fee to an affiliate of the Leucadia Sponsor
in an amount that constitutes a market standard financial advisory fee for comparable transactions at the closing of the Company’s
initial Business Combination, provided that no agreement with the Leucadia Sponsor or its affiliates will be entered into, and
no fees for such services will be paid to the Leucadia Sponsor or its affiliates, prior to the date that is 90 days from the date
of the Prospectus, unless the Financial Industry Regulatory Authority, Inc. determines that such payment would not be deemed underwriting
compensation in connection with the Public Offering; and repayment of loans, if any, and on such terms as to be determined by the
Company from time to time, made by the Sponsors or an affiliate of the Sponsors or certain of the Company’s officers and
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 of the post Business Combination entity at a price of $0.50 per warrant
at the option of the lender (with terms and conditions identical to the Sponsor Warrants).

 

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8. The undersigned
has full right and power, without violating any agreement to which he or she 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 to serve as a director
on the board of directors of the Company and hereby consents to being named in the Prospectus as a director of the Company.

 

9. 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) “Founder Shares”
shall mean the shares of the Class F common stock, par value $0.0001 per share, of the Company held by the Sponsors prior to the
consummation of the Public Offering; (iii) “Public Stockholders” shall mean the holders of securities
issued in the Public Offering; (iv) “Sponsor Warrants” shall mean the Warrants to purchase
7,000,000 shares of Common Stock that were acquired by the Sponsors for an aggregate purchase price of $7.0 million, or $0.50 per
warrant, in a private placement that occurred simultaneously with the consummation of the Public Offering; (v) “Trust
Account” shall mean the trust fund into which a portion of the net proceeds of the Public Offering were deposited;
and (vi) “Transfer” shall mean the (a) sale 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 Securities Exchange Act of 1934, as amended, 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).

 

10. 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 the parties hereto.

  

11. Neither party hereto
may assign either this Letter Agreement or any of his rights, interests, or obligations hereunder without the prior written consent
of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate
to transfer or assign any interest or title to the purported assignee. This Letter Agreement shall be binding on the undersigned
and his successors, heirs, personal representatives and assigns.

 

12. 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) 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.

 

14. 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.

 

15. This Letter Agreement
shall terminate on the earlier of (i) the expiration of the Lock-up Periods or (ii) the liquidation of the Company.

 

[Signature Page Follows]

 

 

 

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	 	Sincerely,
	 	 	 
	 	 	/s/ G. Michael Stevens
	 	 	Name: G. Michael Stevens
	 	 	 
	Acknowledged and Agreed:	 	 
	 	 	 
	
        LANDCADIA HOLDINGS, INC.

         
	 	 
	 	 	 
	By:	/s/ Richard H. Liem	 	 
	 	Name: Richard H. Liem	 	 
	 	Title: Vice President and Chief Financial Officer	 	 

 

 

 

 

 

 

 

 

[Signature Page to Letter Agreement]leds_Ex10_2

		
			 
		

		
			Exhibit 10.2
		

		
			 
		

		
			ASSIGNMENT AND ASSUMPTION OF PURCHASE AGREEMENT
		

		
			THIS ASSIGNMENT AND ASSUMPTION OF PURCHASE AGREEMENT (this “Assignment”) is made as of August 4, 2016, between PETER CHIOU, an individual (the “Assignor”), and WELL THRIVE LIMITED, a Samoa international company (the “Assignee”).
		

		
			.
		

		
			RECITALS 
		

			
	
			
				 A.
			Assignor is the purchaser under that certain Purchase Agreement dated as of June 28, 2016, between SEMILEDS CORPORATION, a Delaware corporation, (the “Company”), and Assignor, as purchaser (the “Purchase Agreement”), pursuant to which Assignor agreed to acquire from the Company the Securities (as defined in the Purchase Agreement). 

			
	
			
				 B.
			Assignor desires to assign to Assignee all of Assignor’s right, title and interest in, to and under the Purchaser Agreement, and Assignee desires to accept such assignment and to assume all obligations of Assignor under the Purchase Agreement, upon and subject to all of the terms and conditions hereinafter set forth.

		
			AGREEMENT 
		

		
			NOW, THEREFORE, in consideration of the premises, One Million Dollars ($[1,000,000]) paid by Assignee to Assignor, the mutual covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Assignor and Assignee hereby agree as follows:
		

			
	
			
				 1.
			Assignment and Assumption. Assignor hereby assigns to Assignee all of Assignor’s right, title and interest in, to and under the Purchase Agreement and all deposits delivered by Assignor thereunder, and Assignee hereby accepts such assignment, assumes all of Assignor’s obligations under the Purchase Agreement, agrees to be bound by all of the provisions thereof and to timely perform all of the obligations of the purchaser thereunder.

			
	
			
				 2.
			Authority. Each individual executing this Assignment on behalf of Assignee hereby represents and warrants to Assignor that (i) Assignee is a duly formed and existing entity in the jurisdiction of its formation, (ii) Assignee has full right and authority to execute and deliver this Assignment, and (iii) each person signing on behalf of Assignee is authorized to do so.

			
	
			
				 3.
			Representations and Warranties. Assignee hereby confirms that the representations and warranties of Assignor in Section 2 of the Purchase Agreement are true with respect to Assignee. 

		 

 

			
	
			
				 4.
			Guarantee.  Assignor hereby agrees to guarantee the obligations of Assignee under this Assignment in the event of Assignee’s non-performance of any of Assignee’s obligations hereunder or pursuant to the Purchase Agreement.

			
	
			
				 5.
			Partial Invalidity. If any term, provision or condition contained in this Assignment shall, to any extent, be invalid or unenforceable, the remainder of this Assignment and the application of such term, provision or condition to persons or circumstances other than those with respect to which it is invalid or unenforceable, shall not be affected thereby and each and every term, provision and condition of this Assignment shall be valid and enforceable to the fullest extent permitted by law.

			
	
			
				 6.
			Further Assurances. Each of Assignor and Assignee hereby covenants that it will, at any time and from time to time upon request by the other, and without the assumption of any additional liability thereby, execute and deliver such further documents and do such further acts as the other party may reasonably request in order to fully effect the purpose of this Assignment.

			
	
			
				 7.
			Enforcement by the Company. The provisions of this Assignment shall inure to the benefit of and be enforceable by the Company and its successors and assigns.

			
	
			
				 8.
			Governing Law.  This Assignment shall be governed by and construed in accordance with the laws of the State of Delaware.

			
	
			
				 9.
			Headings.  The headings of the sections of this Assignment are inserted solely for convenience or reference and are not a part of and are not intended to govern, limit or aid in the construction of any terms or provision hereof.

			
	
			
				 10.
			Entire Agreement. This Assignment is the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements between the parties hereto with respect thereto. This Assignment may not be altered, amended, changed, terminated or modified in any respect, unless the same shall be in writing and signed by the party to be charged and unless such amendment has been approved in writing by Assignor and the Company. All exhibits attached to this Assignment are incorporated herein by this reference. There shall be no presumption that this Assignment be construed more strictly against the party who itself or through its agent prepared it, it being agreed that all parties hereto have participated in the preparation of this Assignment and that each party had the opportunity to consult legal counsel before executing the same.

			
	
			
				 11.
			Successors. The provisions of this Assignment shall be binding upon, and shall inure to the benefit of, each of the parties hereto and their respective successors, transferees and assigns.

			
	
			
				 12.
			Counterparts. This Assignment may be executed in any number of counterparts, each of which shall be deemed an original, but all of which when taken together shall constitute one and the same agreement.  Signatures may be delivered by facsimile transmission or by e-mail in a portable document format (pdf).  All counterparts shall be deemed an original of this Agreement.

		
			
		

		
			

		 

		

			2

		

		

			 

		

 

IN WITNESS WHEREOF, Assignor and Assignee have executed and delivered this Assignment under seal as of the date first above written.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						ASSIGNOR

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						PETER CHIOU,

				
	
					
						 

					
					
						 

					
					
						 

					
					
						an individual

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						By:

					
					
						/s/ PETER CHIOU

				
	
					
						 

					
					
						 

					
					
						 

					
					
						Date:

					
					
						August 4, 2016

				

		
			 
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						ASSIGNEE

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						WELL THRIVE LIMITED,

				
	
					
						 

					
					
						 

					
					
						 

					
					
						a Samoa international company

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						By:

					
					
						/s/ Sheng-Chun Chang

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						Name:

					
					
						Sheng-Chun Chang

				
	
					
						 

					
					
						 

					
					
						 

					
					
						Its:

					
					
						Director

				
	
					
						 

					
					
						 

					
					
						 

					
					
						Date:

					
					
						August 4, 2016

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						AGREED AND ACKNOWLEDGED BY:

				
	
					
						 

				
	
					
						SEMILEDS CORPORATION,

				
	
					
						a Delaware corporation

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Trung Doan

				
	
					
						Name: 

					
					
						Trung Doan

				
	
					
						Its:

					
					
						Chairman and Chief Executive Officer

				
	
					
						Date:

					
					
						August 23, 2016

					
					
						 

				

		
			 
		

		 

		

			3

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