Document:

Exhibit 10.3

 

EXECUTION VERSION

 

AMENDED AND RESTATED VOTING AGREEMENT

 

This Amended and Restated Voting Agreement
(this “Agreement”) is entered into as of December 12, 2018, between One Madison Corporation, a Cayman Islands
exempted company (the “Company”), BSOF Master Fund L.P., a Cayman Islands exempted limited partnership (“BSOF
I”), and BSOF Master Fund II L.P., a Cayman Islands exempted limited partnership (“BSOF II” and, together
with BSOF I, the “BSOF Entities”).

 

Recitals

 

WHEREAS, the Company was incorporated for
the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination
with one or more businesses (a “Business Combination”);

 

WHEREAS, the Company, the BSOF Entities
and One Madison Group LLC, a Delaware limited liability company, are parties to the Strategic Partnership Agreement, dated as of
December 15, 2017 (the “Strategic Partnership Agreement”), pursuant to which the BSOF Entities agreed to act
as a strategic partner to the Company;

 

WHEREAS, BSOF I and BSOF II are the owners
of 3,440,000 and 560,000 Class A ordinary shares, par value $0.0001 per share (“Class A Shares”), of the Company,
respectively, (together with any Class A Shares which BSOF I or BSOF II acquires beneficial ownership of prior to the completion
of the Ranpak Business Combination (as defined below), the “Covered Shares”);

 

WHEREAS, the Company intends to enter into
a Stock Purchase Agreement in substantially the form attached hereto as Exhibit A (the “Stock Purchase Agreement”)
pursuant to which the Company will acquire from Rack Holdings L.P., a Delaware limited partnership, all of the issued and outstanding
shares of capital stock of Rack Holdings Inc., a Delaware corporation (“Ranpak”), on the terms and subject to
the conditions set forth therein (the “Ranpak Business Combination”);

 

WHEREAS, the parties entered into that certain
Voting Agreement dated as of November 12, 2018 (the “Original Voting Agreement”), pursuant to which the BSOF
Entities agreed, among other things, (i) to vote all of the Covered Shares in favor of any shareholder approvals sought by the
Company in connection with the Ranpak Business Combination and (ii) not to exercise their right to redeem the Covered Shares in
connection with the Ranpak Business Combination; and

 

WHEREAS, the parties wish to amend and restate
the Original Voting Agreement its entirety as set forth herein.

 

NOW, THEREFORE, in consideration of the
premises, representations, warranties and the mutual covenants contained in this Agreement, and for other good and valuable consideration,
the receipt, sufficiency and adequacy of which are hereby acknowledged, the parties hereto agree as follows:

 

     

     

    

 

Agreement

 

1.
Voting. Subject to Section 6(a) (Negotiation of Stock Purchase Agreement), each
BSOF Entity hereby agrees that it shall vote any Covered Shares owned by it in favor of any shareholder approvals sought by the
Company in connection with the Ranpak Business Combination. If a BSOF Entity fails to vote any Covered Shares it is required to
vote hereunder in favor of any shareholder approvals sought by the Company in connection with the Ranpak Business Combination,
such BSOF Entity hereby grants hereunder to the Company and any representative designated by the Company without further action
by such BSOF Entity a limited irrevocable power of attorney to effect such vote on behalf of such BSOF Entity, which power of attorney
shall be deemed to be coupled with an interest.

 

2.
Redemption. Each BSOF Entity hereby waives, with respect to the Covered Shares, any redemption
rights it may have in connection with the consummation of the Ranpak Business Combination, including any such rights available
in the context of a shareholder vote to approve the Ranpak Business Combination.

 

3.
Transfers. Each BSOF Entity agrees that it shall not Transfer (as defined below) any of
the Covered Shares prior to the completion of the Ranpak Business Combination, without the prior written consent of the Company,
unless, as a condition to effecting such Transfer, such BSOF Entity enters into a written agreement with the transferee pursuant
to which such transferee agrees to be bound by the provisions of this Agreement with respect to the Covered Shares acquired by
such transferee. As used in this Agreement, “Transfer” shall mean the (i) sale of, offer to sell, contract or
agreement to sell, hypothecation, 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 Securities and Exchange Commission promulgated thereunder) with respect to, any of the Covered Shares (excluding any pledges
in the ordinary course of business for bona fide financing purposes or as part of prime brokerage arrangements, so long as such
pledge would not result in a BSOF Entity being unable to honor its obligations under this Agreement) or (ii) 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 of the
Covered Shares, whether any such transaction is to be settled by delivery of such Covered Shares, in cash or otherwise, but, in
each case of clause (i) or (ii), only if such transaction would result in a BSOF Entity being unable to honor its obligations under
this Agreement. 

 

4.
Representations and Warranties of the BSOF Entities. Each BSOF Entity represents and warrants
to the Company as follows, as of the date hereof:

 

a.
Organization and Power. Such BSOF Entity is duly organized, validly existing, and in good standing under the laws of the
jurisdiction of its formation (if the concept of “good standing” is a recognized concept in such jurisdiction) and
has all requisite power and authority to carry on its business as presently conducted and as proposed to be conducted.

 

b.
Authorization. Such BSOF Entity has full power and authority to enter into this Agreement. This Agreement, when executed
and delivered by such BSOF Entity, will constitute the valid and legally binding obligation of such BSOF Entity, enforceable in
accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance
or any other laws of general application affecting the enforcement of creditors’ rights generally or (ii) as limited by laws
relating to the availability of specific performance, injunctive relief or other equitable remedies.

 

    2 

     

    

 

c.
Governmental Consents and Filings. Assuming the accuracy of the representations and warranties made by the Company in this
Agreement, no consent, approval, order or authorization of, or registration, qualification, designation, declaration or filing
with, any federal, state or local governmental authority is required on the part of such BSOF Entity in connection with the consummation
of the transactions contemplated by this Agreement or the Ranpak Business Combination.

 

d.
Compliance with Other Instruments. The execution, delivery and performance by such BSOF Entity of this Agreement and the
consummation by such BSOF Entity of the transactions contemplated by this Agreement will not result in any violation or default
(i) of any provisions of its organizational documents, if applicable, (ii) of any instrument, judgment, order, writ or decree
to which it is a party or by which it is bound, (iii) under any note, indenture or mortgage to which it is a party or by which
it is bound, (iv) under any lease, agreement, contract or purchase order to which it is a party or by which it is bound or (v)
of any provision of federal or state statute, rule or regulation applicable to such BSOF Entity, in each case (other than clause
(i)), which would have a material adverse effect on such BSOF Entity or its ability to consummate the transactions contemplated
by this Agreement.

 

5.
Representations and Warranties of the Company. The Company represents and warrants to
the BSOF Entities as follows:

 

a.
Organization and Corporate Power. The Company is a company duly incorporated and validly existing and in good standing as
a company under the laws of its jurisdiction of incorporation and has all requisite corporate power and authority to carry on its
business as presently conducted and as proposed to be conducted. The Company has no subsidiaries.

 

b.
Authorization. The Company has full power and authority to enter into this Agreement. This Agreement, when executed and
delivered by the Company, will constitute the valid and legally binding obligation of the Company, enforceable in accordance with
its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or any
other laws of general application affecting the enforcement of creditors’ rights generally or (ii) as limited by laws relating
to the availability of specific performance, injunctive relief or other equitable remedies.

 

c.
Governmental Consents and Filings. Assuming the accuracy of the representations and warranties made by the BSOF Entities
in this Agreement, no consent, approval, order or authorization of, or registration, qualification, designation, declaration or
filing with, any federal, state or local governmental authority is required on the part of the Company in connection with the consummation
of the transactions contemplated by this Agreement.

 

d.
Compliance with Other Instruments. The execution, delivery and performance of this Agreement and the consummation of the
transactions contemplated by this Agreement will not result in any violation or default (i) of any provisions of its articles of
association, Charter or other governing documents, (ii) of any instrument, judgment, order, writ or decree to which it is a party
or by which it is bound, (iii) under any note, indenture or mortgage to which it is a party or by which it is bound, (iv) under
any lease, agreement, contract or purchase order to which it is a party or by which it is bound or (v) of any provision of federal
or state statute, rule or regulation applicable to the Company, in each case (other than clause (i)) which would have a material
adverse effect on the Company or its ability to consummate the transactions contemplated by this Agreement.

 

    3 

     

    

 

6.
Additional Agreements and Acknowledgements of the BSOF Entities.

 

a.
Negotiation of Stock Purchase Agreement. The Company (i) is hereby authorized to negotiate and enter into the Stock Purchase
Agreement, the other Transaction Documents (as defined in the Stock Purchase Agreement) and the Debt Commitment Letters (as defined
in the Stock Purchase Agreement) and (ii) subject to the other provisions of this Agreement, including Section 6(b), may amend
or waive any provision of the Stock Purchase Agreement, any other Transaction Document or any Debt Commitment Letter or take or
consent to any action in connection with the Stock Purchase Agreement, the other Transaction Documents or the Debt Commitment Letters;
provided that (x) the Base Consideration (as defined in the Stock Purchase Agreement) shall not exceed $950,000,000, (y) the amount
of debt financing obtained by the Company for the Ranpak Business Combination shall not exceed $650,000,000, and (z) the other
terms of the Stock Purchase Agreement shall not be changed from the form set forth on Exhibit A in a manner that would reasonably
be expected to adversely and materially impact the economic benefits expected to be derived by the Company from the Ranpak Business
Combination. Upon entry into the Stock Purchase Agreement, the Company shall provide the BSOF Entities with a copy of the final
executed Stock Purchase Agreement.

 

b.
Amendment of Stock Purchase Agreement. After the Company has entered into the Stock Purchase Agreement, the Company shall
give written notice (the “Amendment Notice”) to the BSOF Entities in the event that any material amendment to
the Stock Purchase Agreement is proposed, describing in detail such material amendment. Upon receipt of the Amendment Notice, the
BSOF Entities shall have ten (10) business days (the “Amendment Notice Period”) to deliver to the Company a
written notice (the “Amendment Response”), which shall specify whether the BSOF Entities consent to the amendment
to the Stock Purchase Agreement. Any Amendment Response so delivered shall be binding upon delivery and irrevocable by the BSOF
Entities. If the BSOF Entities do not deliver an Amendment Response before the expiration of the Amendment Notice Period, the BSOF
Entities shall be deemed to have not consented to the amendment to the Stock Purchase Agreement. Prior to entering into any such
material amendment to the Stock Purchase Agreement, the Company shall have received the consent of the BSOF Entities.

 

c.
Trust Account.

 

i.
The BSOF Entities hereby acknowledge that they are aware that the Company established a trust account (the “Trust Account”)
for the benefit of its public shareholders at the closing of the initial public offering. Each BSOF Entity, for itself and its
affiliates, hereby agrees that it 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.

 

ii.
Each BSOF Entity hereby agrees that it shall have no right of set-off or any right, title, interest or claim of any kind (“Claim”)
to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account
that it may have now or in the future. In the event a BSOF Entity has any Claim against the Company under this Agreement, such
BSOF Entity shall pursue such Claim solely against the Company and its assets outside the Trust Account and not against the property
or any monies in the Trust Account.

 

d.
PIPE Financing. BSOF I and BSOF II each acknowledges that the Company has notified such BSOF Entity that, in connection
with the Ranpak Business Combination, the Company intends to enter into subscription agreements with certain persons, pursuant
to which such persons will subscribe for a total of 14,200,000 Class A Shares, Class C Shares and/or preference shares (and/or
securities convertible into Class A Shares, Class C Shares and/or preference shares), at a purchase price of $10.00 per share and
on the terms set forth in the form of the subscription agreement provided to such BSOF Entity, which shares will be issued by the
Company immediately prior to the completion of the Ranpak Business Combination for the purpose of obtaining financing to be used
by the Company in connection with the completion of the Ranpak Business Combination, including backstop financing to replace funds
in the Trust Account in the event that any public shareholders of the Company exercise their right of redemption in connection
with the Ranpak Business Combination (collectively, the “PIPE Financing”). BSOF I and BSOF II each hereby waives
any right it has under the Strategic Partnership Agreement to receive notice of, and to participate in, the PIPE Financing. To
the extent required by the Strategic Partnership Agreement, BSOF I and BSOF II each hereby consents to the PIPE Financing.

  

    4 

     

    

 

7. Termination.
This Agreement (i) will terminate automatically upon the completion of the Ranpak Business Combination
or the termination of the Stock Purchase Agreement in accordance with its terms and (ii) may be terminated at any time prior to
the completion of the Ranpak Business Combination by mutual written consent of the Company and the BSOF Entities. In the event
of any termination of this Agreement pursuant to this Section 7, this Agreement shall forthwith become null and void and have no
effect, without any liability on the part of the BSOF Entities or the Company and their respective directors, officers, employees,
partners, managers, members, or shareholders and all rights and obligations of each party shall cease; provided, however,
that nothing contained in this Section 7 shall relieve either party from liabilities or damages arising out of any fraud or willful
breach by such party of any of its representations, warranties, covenants or agreements contained in this Agreement. 

 

8.
General Provisions.

 

a.
Notices. All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be
deemed effectively given upon the earlier of actual receipt, or (i) personal delivery to the party to be notified, (ii) when sent,
if sent by electronic mail or facsimile (if any) during normal business hours of the recipient, and if not sent during normal business
hours, then on the recipient’s next business day, (iii) five (5) business days after having been sent by registered or certified
mail, return receipt requested, postage prepaid, or (iv) one (1) business day after deposit with a nationally recognized overnight
courier, freight prepaid, specifying next business day delivery, with written verification of receipt. All communications sent
to the Company shall be sent to: One Madison Corporation, 3 East 28th Street, 8th Floor, New York, New York
10016, Attn: David Murgio, Secretary, email: dmurgio@onemadisongroup.com, with a copy to the Company’s counsel at: Davis
Polk & Wardwell LLP, 450 Lexington Avenue, New York, NY 10017, Attn: Deanna L. Kirkpatrick, Esq., email: deanna.kirkpatrick@davispolk.com,
fax: (212) 701-5135, and John B. Meade, Esq., email: john.meade@davispolk.com,
fax: (212) 701-5077, and Lee Hochbaum, Esq., email: lee.hochbaum@davispolk.com,
fax (212) 701-5736. 

 

All
communications to the BSOF Entities shall be sent to the BSOF Entities’ address as set forth on the signature page hereof,
or to such e-mail address, facsimile number (if any) or address as subsequently modified by written notice given in accordance
with this Section 8(a).

 

b.
Survival of Representations and Warranties. All of the representations and warranties contained herein shall survive the
completion of the Ranpak Business Combination.

 

    5 

     

    

 

c.
Amendment and Restatement; Entire Agreement. This Agreement amends and restates the Original Voting Agreement in its entirety.
This Agreement, together with any documents, instruments and writings that are delivered pursuant hereto or referenced herein,
constitutes the entire agreement and understanding of the parties hereto in respect of its subject matter and supersedes all prior
understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any
way to the subject matter hereof or the transactions contemplated hereby.

 

d.
Successors. All of the terms, agreements, covenants, representations, warranties, and conditions of this Agreement are binding
upon, and inure to the benefit of and are enforceable by, the parties hereto and their respective successors. Nothing in this Agreement,
express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns
any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

 

e.
Assignments. Except as otherwise specifically provided herein, no party hereto may assign either this Agreement or any of
its rights, interests, or obligations hereunder without the prior written approval of the other party.

 

f.
Counterparts. This Agreement may be executed in two or more counterparts, each of which will be deemed an original but all
of which together will constitute one and the same instrument.

 

g.
Headings. The section headings contained in this Agreement are inserted for convenience only and will not affect in any
way the meaning or interpretation of this Agreement.

 

h.
Governing Law. This Agreement, the entire relationship of the parties hereto, and any litigation between the parties (whether
grounded in contract, tort, statute, law or equity) shall be governed by, construed in accordance with, and interpreted pursuant
to the laws of the State of New York, without giving effect to its choice of laws principles.

 

i.
Jurisdiction. The parties (i) hereby irrevocably and unconditionally submit to the jurisdiction of the state courts of New
York and to the jurisdiction of the United States District Court for the Southern District of New York for the purpose of any suit,
action or other proceeding arising out of or based upon this Agreement, (ii) agree not to commence any suit, action or other proceeding
arising out of or based upon this Agreement except in state courts of New York or the United States District Court for the Southern
District of New York, and (iii) hereby waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such
suit, action or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its
property is exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum,
that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced
in or by such court.

 

j.
Waiver of Jury Trial. The parties hereto hereby waive any right to a jury trial in connection with any litigation pursuant
to this Agreement and the transactions contemplated hereby.

 

    6 

     

    

 

k.
Amendments. This Agreement may not be amended, modified or waived as to any particular provision, except with the written
consent of the Company and the BSOF Entities.

 

l.
Severability. The provisions of this Agreement will be deemed severable and the invalidity or unenforceability of any provision
will not affect the validity or enforceability of the other provisions hereof; provided that if any provision of this Agreement,
as applied to any party hereto or to any circumstance, is adjudged by a governmental authority, arbitrator, or mediator not to
be enforceable in accordance with its terms, the parties hereto agree that the governmental authority, arbitrator, or mediator
making such determination will have the power to modify the provision in a manner consistent with its objectives such that it is
enforceable, and/or to delete specific words or phrases, and in its reduced form, such provision will then be enforceable and will
be enforced.

 

m.
Expenses. Each of the Company and the BSOF Entities will bear their own costs and expenses incurred in connection with the
preparation, execution and performance of this Agreement and the consummation of the transactions contemplated hereby, including
all fees and expenses of agents, representatives, financial advisors, legal counsel and accountants. 

 

n.
Construction. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. If an ambiguity
or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties hereto and
no presumption or burden of proof will arise favoring or disfavoring any party hereto because of the authorship of any provision
of this Agreement. Any reference to any federal, state, local, or foreign law will be deemed also to refer to law as amended and
all rules and regulations promulgated thereunder, unless the context requires otherwise. The words “include,” “includes,”
and “including” will be deemed to be followed by “without limitation.” Pronouns in masculine, feminine,
and neuter genders will be construed to include any other gender, and words in the singular form will be construed to include the
plural and vice versa, unless the context otherwise requires. The words “this Agreement,” “herein,” “hereof,”
“hereby,” “hereunder,” and words of similar import refer to this Agreement as a whole and not to any particular
subdivision unless expressly so limited. The parties hereto intend that each representation, warranty, and covenant contained herein
will have independent significance. If any party hereto has breached any representation, warranty, or covenant contained herein
in any respect, the fact that there exists another representation, warranty or covenant relating to the same subject matter (regardless
of the relative levels of specificity) which such party hereto has not breached will not detract from or mitigate the fact that
such party hereto is in breach of the first representation, warranty, or covenant.

 

o.
Waiver. No waiver by any party hereto of any default, misrepresentation, or breach of warranty or covenant hereunder, whether
intentional or not, may be deemed to extend to any prior or subsequent default, misrepresentation, or breach of warranty or covenant
hereunder or affect in any way any rights arising because of any prior or subsequent occurrence.

 

p.
Confidentiality. Except as may be required by law, regulation or applicable stock exchange listing requirements, unless
and until the transactions contemplated hereby and the terms hereof are publicly announced or otherwise publicly disclosed by the
Company, the parties hereto shall keep confidential and shall not publicly disclose the existence or terms of this Agreement. Each
BSOF Entity hereby acknowledges that in connection with its examination of certain confidential information that has been or will
be provided to it and/or its representatives regarding the proposed Ranpak Business Combination, such BSOF Entity and/or its representatives
may have access to material non-public information concerning the Company and Ranpak. Each BSOF Entity agrees to keep this information
confidential. Each BSOF Entity acknowledges that it is aware (and that its representatives have been or will be advised by it)
that the United States and other applicable securities laws prohibit any person who has received from an issuer material nonpublic
information relating to such issuer from purchasing or selling securities of such issuer or from communicating such information
to any other person under circumstances in which it is reasonably foreseeable that such person is likely to purchase or sell such
securities.

 

q.
Specific Performance. The BSOF Entities agree that irreparable damage would occur in the event that any provision of this
Agreement was not performed by the BSOF Entities in accordance with the specific terms hereof or was otherwise breached, and that
money damages or legal remedies would not be an adequate remedy for any such damages. Therefore, it is accordingly agreed that
the Company shall be entitled to enforce specifically the terms and provisions of this Agreement, or to enforce compliance with,
the covenants and obligations of the BSOF Entities, in any court of competent jurisdiction, and appropriate injunctive relief shall
be granted in connection therewith. The Company, in seeking an injunction, a decree or order of specific performance, shall not
be required to provide any bond or other security in connection therewith and any such remedy shall be in addition and not in substitution
for any other remedy to which the Company is entitled at law or in equity.

 

    7 

     

    

 

IN WITNESS WHEREOF, the undersigned have executed this
Agreement to be effective as of the date first set forth above.

 

	BSOF I:	 	 
	 	 	 
	BSOF Master Fund L.P.	Address
for Notices:	
        345 Park Avenue

        New York, NY 10154 

 

	By:	/s/ Peter Koffler	 	E-mail:	Koffler@blackstone.com
	 	Name: Peter Koffler	 	 	 
	 	Title: Authorized Person 	 	 	 

 

	BSOF II:    
	 
	BSOF Master Fund II L.P.	Address
for Notices:	
        345 Park Avenue

        New York, NY 10154 

 

	By:	/s/ Peter Koffler	 	E-mail:	Koffler@blackstone.com
	 	Name: Peter Koffler	 	 	 
	 	Title: Authorized Person 	 	 	 

  

[Signature Page to Amended and Restated Voting Agreement]

 

     

     

    

 

	COMPANY:	 
	 	 
	ONE MADISON CORPORATION	 
	 	 
	By:	/s/ Omar M. Asali	 
	 	Name: Omar M. Asali	 
	 	Title: Chairman and Chief Executive Officer	 

 

[Signature Page to Amended and Restated Voting Agreement]

 

     

     

    

 

Exhibit A

 

Form of Stock Purchase AgreementExhibit 10.4

 

EXECUTION VERSION

 

ASSIGNMENT AND ASSUMPTION AGREEMENT

 

This
Assignment and Assumption Agreement, dated as of December 12, 2018 (this “Agreement”), is made by and among
Omar Asali (the “Assignor”), Gerard Griffin (the “Assignee”) and One Madison Corporation,
a Cayman Islands exempted company (the “Company”).

 

WHEREAS,
the Assignor has entered into that certain Forward Purchase Agreement, dated as of October 5, 2017 (as amended from time to time,
the “Forward Purchase Agreement”), by and between the Assignor and the Company, pursuant to which, among other
things, the Assignor (i) committed to subscribe for and purchase from the Company, immediately prior to the closing of the Company’s
initial business combination, 2,355,500 Class A ordinary shares of the Company (the “Class A Shares”) and 785,167
warrants of the Company (the “Warrants”) for an aggregate purchase price of $23,555,000, subject to the terms
and conditions contained therein, and (ii) subscribed for and purchased 588,875 Class B ordinary shares of the Company (the “Class
B Shares”);

 

WHEREAS, the Assignor
and the Assignee are entering into an Amended and Restated Reallocation Agreement (the “Reallocation Agreement”)
pursuant to which certain of the Warrants and Class B Shares will be reallocated among the Assignor, the Assignee and the other
investors party thereto on the terms and subject to the conditions set forth therein;

 

WHEREAS, the
Assignor wishes to assign to the Assignee all of its rights, duties and obligations under the Forward Purchase Agreement with
respect to its commitment to subscribe for and purchase, in accordance with the terms and procedures set forth in Section 1
of the Forward Purchase Agreement, 350,000 Class A Shares and 116,667 Warrants, subject to the reallocation specified in the
Reallocation Agreement (the “Securities”), for an aggregate purchase price of $3,500,000 (such rights,
duties and obligations, together with the terms, covenants and restrictions set forth in Section 6 of the Forward Purchase
Agreement, the “Assigned Obligations”), and the Assignee wishes to accept and assume all of such Assigned
Obligations; and

 

WHEREAS,
in connection with the assignment and assumption of the Assigned Obligations, subject to the reallocation specified in the Reallocation
Agreement, the Assignor wishes to sell and transfer to the Assignee all of its right, title and interest in and to an aggregate
of 87,500 Class B Shares of the Company (the “Purchased Class B Shares”), representing the Assignee’s
proportionate amount of the Class B Shares relative to its commitment to purchase the Securities, and the Assignee wishes to purchase
and receive the Purchased Class B Shares from the Assignor at the same price per share at which the Assignor purchased the Purchased
Class B Shares from the Company;

 

     

     

    

 

NOW,
THEREFORE, in consideration of the premises, representations, warranties and the mutual covenants contained in this Agreement,
and for other good and valuable consideration, the receipt, sufficiency and adequacy of which are hereby acknowledged, the parties
hereto, intending to be legally bound, hereby agree as follows:

 

Section 1. Assignment
and Assumption of Rights Under Forward Purchase Agreement. The Assignor hereby assigns the Assigned Obligations to the
Assignee, and the Assignee hereby assumes and agrees to timely perform all of the Assigned Obligations and to become a party
to the Forward Purchase Agreement as if he were an original party thereto with respect to the Assigned Obligations; provided,
that such assignment, acceptance and assumption shall not relieve the Assignor of its commitment to subscribe for and
purchase the securities in accordance with the terms and procedures set forth in Section 1 of the Forward Purchase Agreement
(or the Assigned Obligations related thereto) in the event that Assignee does not consummate such purchase on the date on
which the Closing is required to occur pursuant to the Forward Purchase Agreement. For the avoidance of doubt, the Assigned
Obligations shall include those terms, covenants and restrictions set forth in Section 6 of the Forward Purchase
Agreement.

 

Section
2. Transfer and Sale of Purchased Class B Shares. The Assignor hereby sells, transfers, conveys and delivers the Purchased
Class B Shares to the Assignee and the Assignee does hereby purchase and accept such Shares. Concurrently with the execution hereof,
the Assignee is paying to the Assignor an aggregate amount of $875.00 in consideration for the transfer, sale and purchase of the
Purchased Class B Shares. Any forfeiture under this Agreement shall take effect as a surrender for no consideration as a matter
of Cayman Islands law.

 

Section
3. Consent and Agreement of Company. The Company hereby consents and agrees to the transactions effected pursuant to this
Agreement and further agrees and acknowledges that notwithstanding any provision of the Forward Purchase Agreement (a) no breach,
default or obligation of the Assignor under the Forward Purchase Agreement will arise as a result of the transactions contemplated
hereby and (b) following execution of this Agreement, the Assignor’s obligation under the Forward Purchase Agreement with
respect to the purchase of Class A Shares and Warrants shall be to purchase 2,005,500 Class A Shares and 668,500 Warrants for an
aggregate purchase price of $20,055,000 on the terms and subject to the conditions set forth in the Forward Purchase Agreement,
and subject to adjustment as specified in the Reallocation Agreement. Except for the assignment of the Assigned Obligations and
the transfer and sale of the Purchased Class B Shares to the Assignee, the terms and conditions of the Forward Purchase Agreement
and all of the Assignor’s rights and obligations thereunder will continue in full force and effect.

 

Section
4. No Conflicts. Each party represents and warrants that neither the execution and delivery of this Agreement by such party,
nor the consummation or performance by such party of any of the transactions contemplated hereby, will, with or without notice
or lapse of time, constitute, create or result in a breach or violation of, default under, loss of benefit or right under or acceleration
of performance of any obligation required under any agreement to which it is a party, except for any such breaches or violations
that have been waived or consented to as of the date of this Agreement.

 

Section
5. Representations of Assignee. The Assignee represents, warrants, acknowledges and agrees as follows:

 

(a)  The
investment in the Purchased Class B Shares involves certain significant risks. The Assignee has no need for liquidity in his
investment in the Purchased Class B Shares for the foreseeable future and is able to bear the risk of that investment for an
indefinite period.

 

    	 	2	 

     

    

 

(b) This
Agreement is made with the Assignee in reliance upon the Assignee’s representation, which by the
Assignee’s execution of this Agreement, the Assignee hereby confirms, that the Purchased Class B Shares to be acquired
by the Assignee will be acquired for investment for the Assignee’s own account, not as a nominee or agent, and not with
a view to the resale or distribution of any part thereof, and that the Assignee has no present intention of selling, granting
any participation in, or otherwise distributing the same in violation of law. By executing this Agreement, the Assignee
further represents that the Assignee does not presently have any contract, undertaking, agreement or arrangement with any
Person to sell, transfer or grant participations to such Person or to any third Person, with respect to any of the Purchased
Class B Shares. For purposes of this Agreement, “Person” means an individual, a limited liability company,
a partnership, a joint venture, a corporation, a trust, an unincorporated organization, any other entity or any government or
any department or agency thereof.

 

(c) The Assignee
understands that the Purchased Class B Shares have not been, and will not be, registered under the under Act, by reason of a specific
exemption from the registration provisions of the Securities Act of 1933, as amended (the “Act”) which depends
upon, among other things, the bona fide nature of the investment intent and the accuracy of the Assignee’s representations
as expressed herein. The Assignee understands that the Purchased Class B Shares are “restricted securities” under
applicable U.S. federal and state securities laws and that, pursuant to these laws, the Assignee must hold the Purchased Class
B Shares indefinitely unless they are registered with the U.S. Securities and Exchange Commission (the “SEC”)
and qualified by state authorities, or an exemption from such registration and qualification requirements is available. The Assignee
acknowledges that the Company has no obligation to register or qualify the Purchased Class B Shares, or any Class A Shares into
which they may be converted into or exercised for, for resale, except under the Registration Rights Agreement attached as an exhibit
to the Company’s registration statement on Form S-1, as amended, filed under the Act. The Assignee further acknowledges
that if an exemption from registration or qualification is available, it may be conditioned on various requirements including,
but not limited to, the time and manner of sale, the holding period for the Purchased Class B Shares, and on requirements relating
to the Company which are outside of the Assignee’s control, and which the Company is under no obligation and may not be
able to satisfy.

 

(d) The Assignee has been
given the opportunity to (i) ask questions of and receive answers from the Assignor and the Company concerning the terms and conditions
of the Assigned Obligations and Purchased Class B Shares, and the business and financial condition of the Company and (ii) obtain
any additional information that the Assignor possesses or can acquire without unreasonable effort or expense that is necessary
to assist the Assignee in evaluating the advisability of the purchase of the assumption of the Assigned Obligations and the Purchased
Class B Shares and an investment in the Company. The Assignee is not relying on any oral or written representation made by any
person as to the Company or its operations, financial condition or prospects, the Assigned Obligations or the Purchased Class
B Shares.

 

(e)  The
Assignee is an “accredited investor” as defined in Regulation D promulgated by the SEC under the Act.

 

(f) Assignee has available to it sufficient
funds to satisfy its obligations under this Agreement and under the Assigned Obligations.

 

    	 	3	 

     

    

 

(g) Assignee is neither
a person associated nor affiliated with Credit Suisse Securities (USA) LLC or Merrill Lynch, Pierce, Fenner & Smith Incorporated
or, to its actual knowledge, any other member of the Financial Industry Regulatory Authority that participated in the IPO.

 

Section
6. Trust Account Waiver. In connection with the purchase of the Purchased Class B Shares pursuant to this Agreement, the
Assignee hereby waives, in accordance with Section 6(c) of the Forward Purchase Agreement, any and all right, title, interest or
claim of any kind in or to any distributions by the Company from the trust account which will be established for the benefit of
the Company’s public stockholders and into which substantially all of the proceeds of the underwritten initial public offering
by the Company will be deposited (the “Trust Account”) and will not seek recourse against the Trust Account
for any reason whatsoever.

 

Section
7. Restrictions on Transfer. The Assignee acknowledges and agrees that it is bound by the restrictions on transfer with
respect to the Purchased Class B Shares as set forth in the Forward Purchase Agreement.

 

Section
8. Miscellaneous. This Agreement and the Reallocation Agreement, together with any certificates, documents, instruments
and writings that are delivered pursuant hereto and thereto, constitutes the entire agreement and understanding of the parties
hereto in respect of its subject matter. This Agreement shall bind and inure to the benefit of each party hereto and their respective
successors and assigns. The parties hereto agree to take all such further actions and to execute, acknowledge and deliver all such
further documents that are necessary or useful in carrying out the purposes of this Agreement. This Agreement may be executed in
counterparts, each of which will be deemed an original but all of which together will constitute one and the same instrument. This
Agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed by all
parties hereto. Except as otherwise provided herein, no party hereto may assign either this Agreement or any of its rights, interests,
or obligations hereunder without the prior written approval of the other parties. This Agreement and the rights and obligations
of the parties hereunder shall be construed in accordance with and governed by the laws of the state of New York, without giving
effect to the conflict of law principles thereof.

 

[Signature Page Follows]

 

    	 	4	 

     

    

 

IN WITNESS WHEREOF, the undersigned
have executed this Agreement to be effective as of the date first set forth above.

 

	 	ASSIGNOR:
	 	 	 
	 	/s/ Omar Asali
	 	Name:	Omar Asali
	 	 	 
	 	ASSIGNEE:
	 	 	 
	 	/s/ Gerard Griffin
	 	Name:	Gerard Griffin

 

 

[Signature Page
to Griffin Assignment and Assumption Agreement]

 

     

     

    

 

	Acknowledged and Agreed:	 
	 	 
	ONE MADISON CORPORATION	 
	 	 	 
	By:	/s/ Omar M. Asali	 
	Name:	Omar M. Asali	 
	Title:	Chairman & Chief Executive Officer	 

 

 

 

[Signature Page to Griffin Assignment and Assumption
Agreement]

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