Document:

EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 

AMENDMENT NO. 1 TO TRANSACTION AGREEMENT 

This AMENDMENT NO. 1 TO TRANSACTION AGREEMENT, dated as of February 6, 2017 (this “Amendment”), is made by and among
Playa Hotels & Resorts B.V., a Dutch private limited liability company (the “Company”), Pace Holdings Corp., a Cayman Islands exempted company (“Parent”), Porto Holdco B.V., a Dutch private limited
liability company (besloten vennootschap met beperkte aansprakelijkeid) (“Holdco”), and New Pace Holdings Corp., a Cayman Islands exempted company (“New Pace”). Capitalized terms used herein but not
specifically defined herein shall have the meanings ascribed to such terms in the Transaction Agreement (as defined below). 
 WHEREAS, the
Company, Parent, Holdco and New Pace are parties to the Transaction Agreement, dated as of December 13, 2016 (the “Transaction Agreement”); 

WHEREAS, pursuant to Section 8.13 of the Transaction Agreement, the Transaction Agreement may not be amended except by an instrument in
writing signed (including by electronic means) on behalf of each of the parties thereto; and 
 WHEREAS, each of the parties to the
Transaction Agreement agrees to amend the Transaction Agreement as described below. 
 NOW, THEREFORE, in consideration of the foregoing and
the representations, warranties, covenants and agreements herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties to this Amendment agree as follows: 

1.    Effective as of the date of this Amendment, the Transaction Agreement is hereby amended as follows: 

(a)    The following text is hereby added after the third recital in the preamble of the Transaction Agreement and the
index of defined terms is hereby updated to include the term “Employee Subscription Agreements”: 
 “WHEREAS, prior to the
Closing, Parent shall enter into subscription agreements with certain employees of the Company pursuant to which such employees of the Company shall agree to subscribe for, and Holdco shall agree to issue to such employees of the Company, on the
terms and subject to the conditions and limitations set forth therein, Holdco Common Shares immediately following the consummation of the Company Merger (as defined below) (the “Employee Subscription Agreements”).” 

(b)    Section 1.1 of the Transaction Agreement is hereby amended and restated in its entirety to read as follows: 

“1.1    Closing. Upon the terms and subject to the conditions of this Agreement, the closing of the
transactions contemplated hereby (the “Closing”) shall take place remotely by the exchange of closing deliverables and the taking of the closing actions contemplated by Section 1.3 at the Company Merger Effective Time (except
in the case of the payments contemplated by Section 1.3, which shall be made as promptly as practicable after such time), which shall occur on the third (3rd) Business Day after the satisfaction (or waiver in accordance with this Agreement) of
the last to occur of the conditions set forth in Article VI (other than any such conditions which by their nature cannot be satisfied until the Closing Date, which shall be required to be so satisfied or (to the extent permitted by applicable Laws
and this Agreement) waived on the Closing Date), unless another date or place is agreed to in writing by the parties, but in no event shall the Closing occur before March 10, 2017 unless the parties hereto agree otherwise (such date on which
the Closing occurs, the “Closing Date”).” 

  
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 (c)    Section 1.3(g) of the Transaction Agreement is hereby amended and
restated in its entirety to read as follows: 
 “(g)     Holdco shall issue 449,900 Holdco Common Shares to Parent
against an issue price in the aggregate amount of EUR 44,990 to be paid in cash and, following such issuance, a notarial deed of conversion and amendment of articles of association of Holdco shall be executed before the Civil Law Notary, pursuant to
which (i) Holdco shall be converted into a Dutch public limited liability company (naamloze vennootschap) and (ii) the articles of association of Holdco shall be amended, both with effect from the moment immediately prior to the
consummation of the Parent Merger; provided that such 449,900 Holdco Common Shares shall be canceled immediately following the consummation of the Company Merger;” 

(d)    The following text is hereby added as a new Section 1.3(m): 

“(m)    The employees of the Company party to the Employee Subscription Agreements shall deliver their respective
subscription amounts to Holdco, and Holdco shall issue to such employees of the Company, Holdco Common Shares pursuant to and in accordance with the terms of the Employee Subscription Agreements.” 

(e)    Section 2.2(b)(iii) of the Transaction Agreement is hereby amended and restated in its entirety to read as follows:

 “(iii) The aggregate number of Holdco Common Shares to be received as Company Merger Consideration payable pursuant to this Section
2.2(b) shall consist of a number of newly-issued Holdco Common Shares equal to (A) the quotient obtained by dividing (x) the Holdco Equity Value by (y) a per share issue price of $10.00, less (B) the total number of Holdco Common
Shares issued, or subject to the warrants issued, pursuant to and in accordance with Section 2.1 and less (C) the total number of Holdco Common Shares to be issued to employees of the Company pursuant to and in accordance with the Employee
Subscription Agreements. The aggregate number of Holdco Founder Warrants to be received as Company Merger Consideration payable pursuant to this Section 2.2(b) shall be equal to the number of Surrendered Parent Founder Warrants. The aggregate number
of Company Earnout Warrants to be received as Company Merger Consideration payable pursuant to this Section 2.2(b) shall be equal to the number of warrants subject to the Company Earnout Warrant Agreements.” 

(f)    Section 6.1(f) of the Transaction Agreement is hereby amended and restated in its entirety to read as follows: 

“(f)     Minimum Proceeds. The funds contained in the Trust Account (net of the amount of any Parent
Shareholder Redemption Amount) together with the amounts to be funded pursuant to the Subscription Agreements and the funds to be funded pursuant to the Employee Subscription Agreements shall equal or exceed $375,000,000 (the “Minimum
Proceeds Amount”); provided, that the Minimum Proceeds Amount shall be reduced in the event that any Company Preferred Shares are converted into Company Common Shares following the date of this Agreement pursuant to and in accordance
with the terms of the Securities Purchase Agreement entered into with HI Holdings (it being understood that the amount of such reduction will be determined on a
dollar-for-dollar basis pursuant to Section 2.2 of such Securities Purchase Agreement and that in no event shall the Minimum Proceeds Amount be reduced to less than
$325,000,000).” 
 (g)    The definition of “Ancillary Agreements” in Section 8.1 of the Transaction
Agreement is hereby amended and restated in its entirety to read as follows: 
 “Ancillary Agreements” means the
Confidentiality Agreement, the Subscription Agreements, the Employee Subscription Agreements, Parent Sponsor Letter Agreement, Waiver Agreement, Parent Pace Earnout Warrant Agreement, Company Earnout Warrant Agreements, Parent Merger Agreement,
Securities Purchase Agreements, Company Merger Agreement, the Shareholder Agreement and the Registration Rights Agreement. 

  
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 (h)    The definition of “Holdco Equity Value” in Section 8.1
of the Transaction Agreement is hereby amended and restated in its entirety to read as follows: 
 “Holdco Equity Value”
means (a) the Total Enterprise Value, less (b) the Indebtedness Amount, plus (c) the Cash Balance, plus (d) the Cap Cana Escrow, less (e) the Total Expenses, plus (f) the Excess Parent Transaction Expenses, plus
(g) the aggregate amount of cash in the Trust Account as of immediately prior to Closing, less (h) the Parent Shareholder Redemption Amount, plus (i) the aggregate amount paid by the Investors pursuant to and in accordance with the
Subscription Agreements, plus (j) the aggregate amount to be paid by employees of the Company pursuant to and in accordance with the Employee Subscription Agreements, and less (k) the Preference Balance. 

(i)    The definition of “Parent Transaction Expenses” in Section 8.1 of the Transaction Agreement is
hereby amended and restated in its entirety to read as follows: 
 “ “Parent Transaction Expenses” means (a) all
accrued and unpaid fees, expenses and disbursements of counsel, accountants, advisors and consultants to Parent, New Pace or Holdco incurred after September 16, 2015 and (b) all accrued and unpaid costs and expenses incident to the
negotiation and preparation of this Agreement and the other documents contemplated hereby (including the Ancillary Agreements) and the performance and compliance with all agreements and conditions contained herein to be performed or complied with at
or before the Closing, including the fees, expenses and disbursements of its counsel and accountants, due diligence expenses, advisory and consulting fees and expenses, and other third-party fees required to consummate the transactions contemplated
hereby, in each case, of Parent or its Subsidiaries as of the Closing (and prior to giving effect to any payment thereof contemplated by Section 1.3(c)), as determined by Parent in good faith and set forth in the Parent Consideration Schedule to be
delivered by Parent to Company prior to the Closing and subject to determination pursuant to Section 1.2(c), less an amount equal to the fees reimbursed by the Nasdaq to Holdco following the date hereof; provided that Parent Transaction Expenses
shall not include Parent Underwriting Fees.” 
 (j)    The paragraph at the bottom of Exhibit L is hereby
amended and restated in its entirety to read as follows: 
 “The numbers above (i) assume that there are no redemptions by Parent
shareholders in connection with the Transactions, (ii) do not include or otherwise take into account any Holdco Common Shares to be issued to employees of the Company pursuant to and in accordance with the Employee Subscription Agreements and
(iii) and do not include any shares that would be subject to an incentive plan of Holdco. Such numbers shall be updated as of Closing in accordance with the terms and conditions of the Agreement.” 

2.    The parties hereto hereby agree that, except as specifically provided in this Amendment, the Transaction Agreement
shall remain in full force and effect without any other amendments or modifications. 
 3.    The provisions of Sections
8.3 through 8.13 of the Transaction Agreement are hereby incorporated into this Amendment by reference and shall be applicable to this Amendment for all purposes. 

[The remainder of this page is intentionally left blank.] 

  
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 IN WITNESS WHEREOF, each party has caused this Amendment to be signed by its respective officer
thereunto duly authorized, all as of the date first written above. 
  

			
	PLAYA HOTELS & RESORTS B.V.
		
	By:	 	 /s/ Bruce D. Wardinski

	Name:	 	Bruce D. Wardinski
	Title:	 	Executive Director

  
 [AMENDMENT NO. 1 TO
TRANSACTION AGREEMENT] 

  
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	PACE HOLDINGS CORP.
		
	By:	 	 /s/ Karl Peterson

	Name:	 	Karl Peterson
	Title:	 	Director

  
 [AMENDMENT NO. 1 TO
TRANSACTION AGREEMENT] 

  
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	PORTO HOLDCO B.V.
		
	By:	 	 /s/ Pedro Fernandes das Neves

	Name:	 	Pedro Fernandes das Neves
	Title:	 	Manager

  
 [AMENDMENT NO. 1 TO
TRANSACTION AGREEMENT] 

  
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	NEW PACE HOLDINGS CORP.
		
	By:	 	 /s/ Michael Lagatta

	Name:	 	Michael Lagatta
	Title:	 	Director

  
 [AMENDMENT NO. 1 TO
TRANSACTION AGREEMENT] 

  
 7EX-10.2

 Exhibit 10.2 
  

			
		 	February 6, 2017

 Pace Holdings Corp. 
 301
Commerce St., Suite 3300 
 Fort Worth, TX 76102 
  

	Re:	Initial Public Offering 

 Gentlemen: 

This letter (this “Letter Agreement”) amends and restates that certain letter agreement, dated as of
September 10, 2015, delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”), dated as of the same date, by and between Pace Holdings Corp., a Cayman Islands exempted company (the
“Company”), and Deutsche Bank Securities Inc. and Citigroup Global Markets Inc., as the underwriters (the “Underwriters”), relating to an underwritten initial public offering (the “Public
Offering”), of 46,000,000 of the Company’s units (including up to 6,000,000 units subject to an over-allotment option) (the “Units”), each comprised of one Class A ordinary share of the Company, par
value $0.0001 per share (the “Ordinary Shares”), and one warrant (each, a “Warrant”). Each Warrant entitles the holder thereof to purchase one-third of one Ordinary Share at a price of one third
of $11.50 per share, subject to adjustment. The Units were sold in the Public Offering pursuant to a registration statement on Form S-1 and prospectus (the “Prospectus”) filed by the Company with the Securities and
Exchange Commission (the “Commission”) and the Company applied to have the Units listed on the Nasdaq Capital Market. Certain capitalized terms used herein are defined in paragraph 11 hereof. 

In order to induce the Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the Public Offering and for
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, TPACE Sponsor Corp., a Cayman Islands exempted company (the “Sponsor”), and the undersigned individuals, each of whom is a
director or member of the Company’s management team (each, an “Insider” and collectively, the “Insiders”), hereby agrees with the Company as follows: 

1. The Sponsor and each Insider agrees that if the Company seeks shareholder approval of a proposed Business Combination, then in connection
with such proposed Business Combination, it or he shall (i) vote any shares owned by it or him in favor of any proposed Business Combination and (ii) not redeem any Ordinary Shares owned by it or him in connection with such shareholder
approval. 
 2. The Sponsor and each Insider hereby agrees that in the event that the Company fails to consummate a Business Combination
within 24 months from the closing of the Public Offering, or such later period approved by the Company’s shareholders in accordance with the Company’s amended and restated memorandum and articles of association, the Sponsor and each
Insider shall take all reasonable steps to cause the Company to (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than 10 business days thereafter, subject to lawfully
available funds therefor, redeem 100% of the Ordinary Shares 

 
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, including interest (which interest shall be net of taxes payable and less up to $50,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish all
Public Shareholders’ rights as shareholders (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 shareholders and the Company’s board of directors, dissolve and liquidate, subject in each case to the Company’s obligations under Cayman Islands law to provide for claims of creditors and other
requirements of applicable law. The Sponsor and each Insider agrees to not propose any amendment to the Company’s amended and restated memorandum and articles of association 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 shareholders with the opportunity to
redeem their Ordinary Shares upon approval of any such amendment at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest (which interest shall be net of taxes payable), divided by
the number of then outstanding public shares. 
 The Sponsor and each Insider acknowledges that it or he has no right, title, interest or
claim of any kind in or to any monies held in the Trust Account or any other asset of the Company as a result of any liquidation of the Company with respect to the Founder Shares held by it. The Sponsor and each Insider hereby further waives, with
respect to any Ordinary Shares held by it or him, if any, any redemption rights it or he may have in connection with the consummation of a Business Combination, including, without limitation, any such rights available in the context of a shareholder
vote to approve such Business Combination or in the context of a tender offer made by the Company to purchase Ordinary Shares (although the Sponsor and the Insiders shall be entitled to redemption and liquidation rights with respect to any Ordinary
Shares it or they hold if the Company fails to consummate a Business Combination within 24 months from the date of the closing of the Public Offering). 

3. Notwithstanding the provisions set forth in paragraphs 7(a) and (b) below, during the period commencing on the effective date of
the Underwriting Agreement and ending 180 days after such date, the Sponsor and each Insider shall not, without the prior written consent of Deutsche Bank Securities Inc. and Citigroup Global Markets Inc., (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, Ordinary Shares, Warrants or any securities convertible into, or
exercisable, or exchangeable for, Ordinary Shares owned by it, (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, Ordinary Shares, Warrants
or any securities convertible into, or exercisable, or exchangeable for, Ordinary Shares owned by it, 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). Each of the Insiders and the Sponsor acknowledges and agrees that, 

  
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prior to the effective date of any release or waiver, of the restrictions set forth in this paragraph 3 or paragraph 7 below, the Company shall announce the impending release or waiver
by press release through a major news service at least two business days before the effective date of the release or waiver. Any release or waiver granted shall only be effective two business days after the publication date of such press release.
The provisions of this paragraph will not apply if the release or waiver is effected solely to permit a transfer not for consideration and the transferee has agreed in writing to be bound by the same terms described in this Letter Agreement to the
extent and for the duration that such terms remain in effect at the time of the transfer. 
 4. In the event of the liquidation of the Trust
Account, the Sponsor (which for purposes of clarification shall not extend to any other shareholders, members or managers of the Sponsor) agrees to indemnify and hold harmless the Company against any and all loss, liability, claim, damage and
expense whatsoever (including, but not limited to, any and all legal or other expenses reasonably incurred in investigating, preparing or defending against any litigation, whether pending or threatened, or any claim whatsoever) to which the Company
may become subject as a result of any claim by (i) any third party for services rendered or products sold to the Company or (ii) a prospective target business with which the Company has entered into an acquisition agreement (a
“Target”); provided, however, that such indemnification of the Company by the Sponsor shall apply only to the extent necessary to ensure that such claims by a third party for services rendered (other than the
Company’s independent public accountants and the Underwriters) or products sold to the Company or a Target do not reduce the amount of funds in the Trust Account to below (i) $10.00 per share of the Offering Shares or (ii) such
lesser amount per share of the Offering Shares held in the Trust Account due to reductions in the value of the trust assets as of the date of the liquidation of the Trust Account, in each case, net of the amount of interest earned on the
property in the Trust Account which may be withdrawn to pay taxes, except as to any claims by a third party who executed a waiver of any and all rights to seek access to the trust account and except as to any claims under the Company’s
indemnity of the Underwriters against certain liabilities, including liabilities under the Securities Act of 1933, as amended. In the event that any such executed waiver is deemed to be unenforceable against such third party, the Sponsor shall not
be responsible to the extent of any liability for such third party claims. The Sponsor shall have the right to defend against any such claim with counsel of its choice reasonably satisfactory to the Company if, within 15 days following written
receipt of notice of the claim to the Sponsor, the Sponsor notifies the Company in writing that it shall undertake such defense. 
 5. To the
extent that the Underwriters do not exercise their over-allotment option to purchase up to an additional 6,000,000 Ordinary Shares within 45 days from the date of the Prospectus (and as further described in the Prospectus), the Sponsor agrees
that it shall forfeit, at no cost, a number of Founder Shares in the aggregate equal to 1,500,000 multiplied by a fraction, (i) the numerator of which is 6,000,000 minus the number of Ordinary Shares purchased by the Underwriters upon the
exercise of their over-allotment option, and (ii) the denominator of which is 6,000,000. All references in this Letter Agreement to shares of the Company being forfeited shall take effect as surrenders for no consideration of such shares as a
matter of Cayman Islands law. The forfeiture will be adjusted to the extent that the over- allotment option is not exercised in full by the Underwriters so that the Initial Shareholders will own an aggregate of 20.0% of the Company’s issued and
outstanding shares after the Public Offering. The Initial Shareholders further agree that to the extent that the size of the Public Offering is increased or decreased, the 

  
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Company will effect a capitalization or share repurchase or redemption, as applicable, immediately prior to the consummation of the Public offering in such amount as to maintain the ownership of
the Initial Shareholders prior to the Public Offering at 20.0% of its issued and outstanding shares upon the consummation of the Public Offering. In connection with such increase or decrease in the size of the Public Offering, then (A) the
references to 6,000,000 in the numerator and denominator of the formula in the first sentence of this paragraph shall be changed to a number equal to 15% of the number of shares included in the Units issued in the Public Offering and (B) the
reference to 1,500,000 in the formula set forth in the immediately preceding sentence shall be adjusted to such number of Founder Shares that the Sponsor would have to return to the Company in order to hold (with all of the Initial Shareholders) an
aggregate of 20.0% of the Company’s issued and outstanding shares after the Public Offering. 
 6. (a) The Sponsor and each Insider
hereby agrees not to participate in the formation of, or become an officer or director of, any other blank check company until either the Company (i) enters into a definitive agreement regarding an initial Business Combination or (ii) has
failed to complete an initial Business Combination within 24 months after the closing of the Public Offering; provided, that in the case of clause (i), such other blank check company does not consummate its initial public offering prior to the
consummation of such initial Business Combination. 
 (b) The Sponsor and each Insider hereby agrees and acknowledges that: (i) the
Underwriters and the Company would be irreparably injured in the event of a breach by such Sponsor or Insider of its or his obligations under paragraphs 1, 2, 3, 4, 5, 6(a), 7(a), 7(b), and 9 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. 

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

(b) The Sponsor and each Insider agrees that it or he shall not effectuate any Transfer of Private Placement Warrants or Ordinary Shares issued
or issuable upon the conversion of the Private Placement Warrants, until 30 days after the completion of a Business Combination (the “Private Placement Warrants Lock-up Period”, together with the Founder Shares Lock-up
Period, the “Lock-up Periods”). 
 (c) Notwithstanding the provisions set forth in paragraphs 7(a) and (b),
Transfers of the Founder Shares, Private Placement Warrants and Ordinary Shares issued or issuable upon the 

  
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exercise or conversion of the Private Placement Warrants or the Founder Shares and that are held by the Sponsor or its permitted transferees (that have complied with this paragraph 7(c)),
are permitted (a) to the Company’s officers or directors, any affiliates or family members of any of the Company’s officers or directors, any members of the Sponsor, or any affiliates of the Sponsor; (b) in the case of an
individual, transfers by gift to a member of the individual’s immediate family, to a trust, the beneficiary of which is a member of the individual’s immediate family or an affiliate of such person, or to a charitable organization;
(c) in the case of an individual, transfers by virtue of laws of descent and distribution upon death of the individual; (d) in the case of an individual, transfers pursuant to a qualified domestic relations order; (e) transfers by
private sales or transfers made in connection with the consummation of a Business Combination at prices no greater than the price at which the securities were originally purchased; (f) transfers in the event of the Company’s liquidation
prior to the completion of an initial Business Combination; (g) transfers by virtue of the laws of the Cayman Islands or the Sponsor’s memorandum and articles of association upon dissolution of the Sponsor; and (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 shareholders having the right to exchange their Ordinary Shares for cash, securities or other property
subsequent to the completion of the Company’s initial 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 the
restrictions herein. 
 8. The Sponsor and each Insider represents and warrants that it or he has never been suspended or expelled from
membership in any securities or commodities exchange or association or had a securities or commodities license or registration denied, suspended or revoked. Each Insider’s biographical information furnished to the Company (including any such
information included in the Prospectus) is true and accurate in all respects and does not omit any material information with respect to the undersigned’s background. Each Insider’s questionnaire furnished to the Company is true and
accurate in all respects. Each Insider represents and warrants that: it is not subject to or a respondent in any legal action for, any injunction, cease-and-desist order or order or stipulation to desist or refrain from any act or practice relating
to the offering of securities in any jurisdiction; it has never been convicted of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any financial transaction or handling of funds of another person, or
(iii) pertaining to any dealings in any securities and it is not currently a defendant in any such criminal proceeding. 
 9. Except as
disclosed in the Prospectus, neither the Sponsor nor any Insider nor any affiliate of the Sponsor or any Insider, nor any director or officer of the Company, shall receive from the Company any finder’s fee, reimbursement, consulting fee, monies
in respect of any repayment of a loan or other compensation prior to, or in connection with any services rendered in order to effectuate the consummation of the Company’s initial Business Combination (regardless of the type of transaction that
it is), other than the following, none of which will be made from the proceeds held in the Trust Account prior to the completion of the initial Business Combination: repayment of a loan and advances of an aggregate of $200,000 made to the Company by
the Sponsor; payment to an affiliate of the Sponsor for office space, utilities and secretarial support for a total of $10,000 per month; reimbursement for any reasonable out-of-pocket expenses related to identifying, investigating and
consummating an initial Business Combination, and repayment of loans, if any, and on such terms as to be determined by the 

  
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Company from time to time, made by the Sponsor 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. Such warrants would be identical to the Private
Placement Warrants. 
 10. The Sponsor and each Insider has full right and power, without violating any agreement to which it is bound
(including, without limitation, any non-competition or non-solicitation agreement with any employer or former employer), to enter into this Letter Agreement and, as applicable, to serve as 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. 
 11. As used herein, (i) “Business
Combination” shall mean a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination, involving the Company and one or more businesses; (ii) “Shares”
shall mean, collectively, the Ordinary Shares and the Founder Shares; (iii) “Founder Shares” shall mean the 11,500,000 Class F Ordinary Shares, par value $0.0001 per share, initially issued to the Sponsor (or
10,000,000 shares if the over-allotment option is not exercised by the Underwriters) for an aggregate purchase price of $25,000, or $0.0025 per share, prior to the consummation of the Public Offering; (iv) “Initial
Shareholders” shall mean the Sponsor and any Insider that holds Founder Shares; (v) “Private Placement Warrants” shall mean the Warrants to purchase up to 20,000,000 Ordinary Shares of the Company (or
22,400,000 Ordinary Shares if the over-allotment option is exercised in full) that the Sponsor has agreed to purchase for an aggregate purchase price of $10,000,000 in the aggregate (or $11,200,000 if the over-allotment option is exercised in full),
or $0.50 per Warrant, in a private placement that shall occur simultaneously with the consummation of the Public Offering; (vi) “Public Shareholders” shall mean the holders of securities issued in the Public
Offering; (vii) “Trust Account” shall mean the trust fund into which a portion of the net proceeds of the Public Offering shall be deposited; and (viii) “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). 

12. This Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and
supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may
not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision, except by a written instrument executed by all parties hereto. 

  
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 13. No party hereto may assign either this Letter Agreement or any of its rights, interests, or
obligations hereunder without the prior written consent of the other 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 Sponsor and Insiders and their respective successors, assigns and permitted transferees. 

14. This Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving
effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The parties hereto (i) all agree that any action, proceeding, claim or dispute arising out of, or relating in any way
to, this Letter Agreement shall be brought and enforced in the courts of New York City, in the State of New York, and irrevocably submit to such jurisdiction and venue, which jurisdiction and venue shall be exclusive and (ii) waive any
objection to such exclusive jurisdiction and venue or that such courts represent an inconvenient forum. 
 15. 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. 
 16. This Letter Agreement shall terminate on the earlier of (i) the expiration of the Lock-up Periods or
(ii) the liquidation of the Company; provided, however, that this Letter Agreement shall earlier terminate in the event that the Public Offering is not consummated and closed by December 31, 2015; provided further that
paragraph 4 of this Letter Agreement shall survive such liquidation. 
 [Signature Page follows] 

  
 7 

 
					
	Sincerely,
	
	TPACE SPONSOR CORP.
			
	By: 	 		 	
		 	/s/ Karl Peterson
		 	Name: 	 	Karl Peterson
		 	Title:	 	President
			
	By:	 		 	
		 	/s/ David Bonderman
		 	David Bonderman
		
	By:	 	
		 	/s/ James Coulter
		 	James Coulter
		
	By:	 	
		 	/s/ Karl Peterson
		 	Karl Peterson
		
	By:	 	
		 	/s/ Clive Bode
		 	Clive Bode
		
	By:	 	
		 	/s/ Dirk Eller
		 	Dirk Eller
		
	By:	 	
		 	/s/ Chad Leat
		 	Chad Leat
		
	By:	 	
		 	/s/ Robert Suss
		 	Robert Suss
		
	By:	 	
		 	/s/ Paul Walsh
		 	Paul Walsh
		
	By:	 	
		 	/s/ Kneeland Youngblood
		 	Kneeland Youngblood

					
	Acknowledged and Agreed:
	
	PACE HOLDINGS CORP.
			
	By: 	 		 	
		 	/s/ Karl Peterson
		 	Name: 	 	Karl Peterson
		 	Title:	 	President and Chief Executive Officer

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