Document:

Exhibit
10.3

 

REGISTRATION
RIGHTS AGREEMENT

 

THIS
REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is entered into as of February 2, 2018, by and among
(i) Global Partner Acquisition Corp., a Delaware corporation, which will be known after the consummation of the transactions
contemplated by the Merger Agreement (as defined below) as “Purple Innovation, Inc.” (including any successor entity
thereto, the “Parent”), (ii) Global Partner Sponsor I LLC, a Delaware limited liability company,
solely in its capacity under the Merger Agreement as the Parent Representative (the “Parent Representative”),
and (iii) InnoHold, LLC, a Delaware limited liability company (the “Investor”).

 

WHEREAS,
on November 2, 2017, the Parent, PRPL Acquisition, LLC, a Delaware limited liability company and a wholly-owned subsidiary of
Parent (“Merger Sub”), Purple Innovation, LLC, a Delaware limited liability company (the “Company”),
the Investor and the Parent Representative entered into that certain Agreement and Plan of Merger (as amended from time to time
in accordance with the terms thereof, including by the First Amendment to Merger Agreement, dated as of January 8, 2018, the “Merger
Agreement”), pursuant to which, subject to the terms and conditions thereof, Merger Sub will merge with and into
the Company, with the Company continuing as the surviving entity (the “Merger”), and a result of which,
among other matters, all of the issued and outstanding membership interests of the Company immediately prior to the consummation
of the Merger (the “Closing”) shall no longer be outstanding and shall automatically be cancelled and
shall cease to exist, in exchange for the Merger Consideration, including the Equity Consideration consisting of Parent Class
B Common Stock and Surviving Entity Class B Units;

 

WHEREAS,
in connection with the consummation of the transactions contemplated by the Merger Agreement, Parent, the Company, the Parent
Representative and the Investor are also entering into a Lock-Up Agreement (as amended from time to time in accordance with the
terms thereof, the “Lock-Up Agreement”), pursuant to which the Investor has agreed not to transfer its
Equity Consideration for the lock-up period set forth therein; and

 

WHEREAS,
the parties desire to enter into this Agreement to provide the Investor with certain rights relating to the registration of the
Class A Common Stock held by it or which it may acquire;

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements set forth herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.
DEFINITIONS. Any capitalized term used
but not defined in this Agreement will have the meaning ascribed to such term in the Merger Agreement. The following capitalized
terms used herein have the following meanings:

 

“Agreement”
means this Agreement, as amended, restated, supplemented, or otherwise modified from time to time.

 

“Class
A Common Stock” means the class A common stock, par value $0.0001 per share, of Parent (including any successor
common equity securities into which such securities are exchanged or converted), as renamed in connection with the Closing from
common stock, par value $0.0001 per share.

 

“Class
B Common Stock” means the class B common stock, par value $0.0001 per share, of Parent.

 

“Closing”
is defined in the recitals to this Agreement.

 

     

     

    

 

“Common
Stock” means, collectively, the shares of Class A Common Stock and Class B Common Stock of Parent, including any
shares of common stock of Parent issuable upon the exercise of any warrant or upon the exercise, conversion or exchange of any
other right to acquire shares of common stock of Parent.

 

“Company”
is defined in the recitals to this Agreement.

 

“Demand
Registration” is defined in Section 2.1.1.

 

“Form
S-3” is defined in Section 2.3.

 

“Founder
Registration Rights Agreement” means that certain Registration Rights Agreement, dated as of July 29, 2015, between
Parent and Global Partner Sponsor I, LLC, a Delaware limited liability company, as amended.

 

“Founder
Securities” means those securities included in the definition of “Registrable Security” specified in
the Founder Registration Rights Agreement.

 

“Indemnified
Party” is defined in Section 4.3.

 

“Indemnifying
Party” is defined in Section 4.3.

 

“Investor”
is defined in the preamble to this Agreement, and include any transferee of the Registrable Securities (so long as they remain
Registrable Securities) of Investor permitted under this Agreement and the Lock-Up Agreement.

 

“Investor
Indemnified Party” is defined in Section 4.1.

 

“Lock-Up
Agreement” is defined in the recitals to this Agreement.

 

“Maximum
Number of Shares” is defined in Section 2.1.4.

 

“Merger”
is defined in the recitals to this Agreement.

 

“Merger
Agreement” is defined in the recitals to this Agreement.

 

“Merger
Sub” is defined in the recitals to this Agreement.

 

“Other
Registrable Securities” means the Founder Securities and any PIPE Registrable Securities.

 

“Other
Registration Rights Agreements” means the Founders Registration Rights Agreement, and the PIPE Registration Rights
Agreements.

 

“Parent”
is defined in the preamble to this Agreement, and shall include Parent’s successors by merger, acquisition, reorganization
or otherwise.

 

“Parent
Representative” is defined in the preamble to this Agreement.

 

“Piggy-Back
Registration” is defined in Section 2.2.1.

 

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“PIPE
Registrable Securities” means any securities which Parent may have obligations to register under the PIPE Registration
Rights Agreements.

 

“PIPE
Registration Rights Agreements” means any registration rights agreements that have been or will be entered into
by the Parent prior to or in connection with the Closing in connection with any subscription and/or backstop arrangements with
potential investors in Parent in connection with the Closing.

 

“Pro
Rata” is defined in Section 2.2.2(a).

 

“Proceeding”
is defined in Section 6.10.

 

“Register,”
“Registered” and “Registration” mean a registration effected by preparing
and filing a registration statement or similar document in compliance with the requirements of the Securities Act, and the applicable
rules and regulations promulgated thereunder, and such registration statement becoming effective.

 

“Registrable
Securities” means all of the Class A Common Stock to be issued by Parent, in accordance with the Merger Agreement,
in exchange for the Equity Consideration issued under the Merger Agreement, including any warrants, share capital or other securities
of Parent issued as a dividend or other distribution with respect to or in exchange for or in replacement of such Class A Common
Stock. As to any particular Registrable Securities, such securities shall cease to be Registrable Securities when: (a) a Registration
Statement with respect to the sale of such securities shall have become effective under the Securities Act and such securities
shall have been sold, transferred, disposed of or exchanged in accordance with such Registration Statement; (b) such securities
shall have been otherwise transferred, new certificates for them not bearing a legend restricting further transfer shall have
been delivered by Parent and subsequent public distribution of them shall not require registration under the Securities Act; (c)
such securities shall have ceased to be outstanding or (d) the Registrable Securities are freely saleable under Rule 144 without
volume limitations.

 

“Registration
Expenses” is defined in Section 3.3.

 

“Registration
Statement” means a registration statement filed by Parent with the SEC in compliance with the Securities Act and
the rules and regulations promulgated thereunder for a public offering and sale of equity securities, or securities or other obligations
exercisable or exchangeable for, or convertible into, equity securities (other than a registration statement on Form S-4 or Form
S-8, or their successors, or any registration statement covering only securities proposed to be issued in exchange for securities
or assets of another entity).

 

“Specified
Courts” is defined in Section 6.10.

 

“Underwriter”
means a securities dealer who purchases any Registrable Securities as principal in an underwritten offering and not as part of
such dealer’s market-making activities.

 

2.
REGISTRATION RIGHTS.

 

2.1
Demand Registration.

 

2.1.1
Request for Registration. Subject to Section 2.4, at any time and from time to time after the Closing, the Investor may
make a written demand for registration under the Securities Act of all or part of its Registrable Securities (a “Demand
Registration”). Any demand for a Demand Registration shall specify the number of Registrable Securities proposed
to be sold and the intended method(s) of distribution thereof. Parent shall not be obligated to effect more than an aggregate
of three (3) Demand Registrations under this Section 2.1.1 in respect of all Registrable Securities.

 

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2.1.2
Effective Registration. A registration will not count as a Demand Registration until the Registration Statement filed with
the SEC with respect to such Demand Registration has been declared effective and Parent has complied with all of its obligations
under this Agreement with respect thereto; provided, however, that if, after such Registration Statement has been declared effective,
the offering of Registrable Securities pursuant to a Demand Registration is interfered with by any stop order or injunction of
the SEC or any other governmental agency or court, the Registration Statement with respect to such Demand Registration will be
deemed not to have been declared effective, unless and until, (i) such stop order or injunction is removed, rescinded or otherwise
terminated, and (ii) the Investor thereafter elects to continue the offering; provided, further, that Parent shall not be obligated
to file a second Registration Statement until a Registration Statement that has been filed is counted as a Demand Registration
or is terminated.

 

2.1.3
Underwritten Offering. If the Investor so elects and advises Parent as part of its written demand for a Demand Registration
that the offering of such Registrable Securities pursuant to such Demand Registration shall be in the form of an underwritten
offering, then the right of the Investor to include its Registrable Securities in such registration shall be conditioned upon
its participation in such underwriting and the inclusion of its Registrable Securities in the underwriting to the extent provided
herein. The Investor shall enter into an underwriting agreement in customary form with the Underwriter or Underwriters selected
for such underwriting by the Investor.

 

2.1.4
Reduction of Offering. If the managing Underwriter or Underwriters for a Demand Registration that is to be an underwritten
offering advises Parent and the Investor in writing that the dollar amount or number of Registrable Securities which the Investor
desires to sell, taken together with all other Class A Common Stock or other securities which Parent desires to sell and the Class
A Common Stock or other securities, if any, as to which registration by Parent has been requested pursuant to written contractual
piggy-back registration rights held by other security holders of Parent who desire to sell, exceeds the maximum dollar amount
or maximum number of shares that can be sold in such offering without adversely affecting the proposed offering price, the timing,
the distribution method, or the probability of success of such offering (such maximum dollar amount or maximum number of shares,
as applicable, the “Maximum Number of Shares”), then Parent shall include in such registration: (i)
first, the Registrable Securities as to which Demand Registration has been requested by the Investor that can be sold without
exceeding the Maximum Number of Shares; (ii) second, to the extent that the Maximum Number of Shares has not been reached under
the foregoing clause (i), the Class A Common Stock or other securities that Parent desires to sell that can be sold without exceeding
the Maximum Number of Shares; and (iii) third, to the extent that the Maximum Number of Shares has not been reached under the
foregoing clauses (i) and (ii), the Class A Common Stock or other securities for the account of other Persons that Parent is obligated
to register pursuant to written contractual arrangements with such Persons and that can be sold without exceeding the Maximum
Number of Shares. In the event that Parent securities that are convertible into Class A Common Stock are included in the offering,
the calculations under this Section 2.1.4 shall include such Parent securities on an as-converted to Class A Common Stock basis.

 

2.1.5
Withdrawal. If the Investor disapproves of the terms of any underwriting or is not entitled to include all of its Registrable
Securities in any offering, the Investor may elect to withdraw from such offering by giving written notice to Parent and the Underwriter
or Underwriters of its request to withdraw prior to the effectiveness of the Registration Statement filed with the SEC with respect
to such Demand Registration. If the Investor withdraws from a proposed offering relating to a Demand Registration in such event,
then such registration shall not count as a Demand Registration provided for in Section 2.1. Notwithstanding anything to the contrary
in this Agreement, but subject to Section 4, the Parent shall be responsible for the Registration Expenses incurred in connection
with a Registration pursuant to a Demand Registration prior to its withdrawal under this Section 2.1.5.

 

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2.2
Piggy-Back Registration.

 

2.2.1
Piggy-Back Rights. Subject to Section 2.4, if at any time after the Closing Parent proposes to file a Registration Statement
under the Securities Act with respect to an offering of equity securities, or securities or other obligations exercisable or exchangeable
for, or convertible into, equity securities, by Parent for its own account or for security holders of Parent for their account
(or by Parent and by security holders of Parent including pursuant to Section 2.1), other than a Registration Statement (i) filed
in connection with any employee share option or other benefit plan, (ii) for an exchange offer or offering of securities solely
to Parent’s existing shareholders, (iii) for an offering of debt that is convertible into equity securities of Parent or
(iv) for a dividend reinvestment plan, then Parent shall (x) give written notice of such proposed filing to the Investor as soon
as practicable but in no event less than ten (10) days before the anticipated filing date, which notice shall describe the amount
and type of securities to be included in such offering, the intended method(s) of distribution, and the name of the proposed managing
Underwriter or Underwriters, if any, of the offering, and (y) offer to the Investor in such notice the opportunity to register
the sale of such number of Registrable Securities as the Investor may request in writing within five (5) days following receipt
of such notice (a “Piggy-Back Registration”). To the extent permitted by applicable securities laws
with respect to such registration by Parent or another demanding shareholder, Parent shall cause such Registrable Securities to
be included in such registration and shall use its best efforts to cause the managing Underwriter or Underwriters of a proposed
underwritten offering to permit the Registrable Securities requested to be included in a Piggy-Back Registration on the same terms
and conditions as any similar securities of Parent and to permit the sale or other disposition of such Registrable Securities
in accordance with the intended method(s) of distribution thereof. If the Investor proposes to distribute its Registrable Securities
through a Piggy-Back Registration that involves an Underwriter or Underwriters, the Investor shall enter into an underwriting
agreement in customary form with the Underwriter or Underwriters selected for such Piggy-Back Registration.

 

2.2.2
Reduction of Offering. If the managing Underwriter or Underwriters for a Piggy-Back Registration that is to be an underwritten
offering advises Parent and the Investor in writing that the dollar amount or number of Class A Common Stock or other Parent securities
which Parent desires to sell, taken together with (i) the Class A Common Stock or other Parent securities, if any, as to which
registration has been demanded pursuant to written contractual arrangements with Persons other than the Investor hereunder, (ii)
the Registrable Securities as to which registration has been requested under this Section 2.2, and (iii) the Class A Common Stock
or other Parent securities, if any, as to which registration has been requested pursuant to the written contractual piggy-back
registration rights of other security holders of Parent, exceeds the Maximum Number of Shares, then Parent shall include in any
such registration:

 

(a)
If the registration is undertaken for Parent’s account: (i) first, the Class A Common Stock or other securities that Parent
desires to sell that can be sold without exceeding the Maximum Number of Shares; (ii) second, to the extent that the Maximum Number
of Shares has not been reached under the foregoing clause (i), the Other Registrable Securities as to which piggy-back registration
has been requested pursuant to the Other Registration Rights Agreements and the Registrable Securities of the Investor as to which
registration has been requested pursuant to this Section 2.2, together that can be sold without exceeding the Maximum Number of
Shares, with the Other Registrable Securities and Registrable Securities being included pro rata in accordance with the number
of securities that each such Person has requested be included in such piggy-back registration, regardless of the number of securities
held by each such Person (such proportion is referred to herein as “Pro Rata”); and (iii) third, to
the extent that the Maximum Number of shares has not been reached under the foregoing clauses (i) and (ii), the Class A Common
Stock or other securities for the account of other Persons that Parent is obligated to register pursuant to written contractual
arrangements with such Persons and that can be sold without exceeding the Maximum Number of Shares;

 

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(b)
If the registration is a “demand” registration undertaken at the demand of holders of Other Registrable Securities
under an Other Registration Rights Agreement: (i) first, the Other Registrable Securities for the account of the demanding holders
under the Other Registration Rights Agreement that can be sold without exceeding the Maximum Number of Shares; (ii) second, to
the extent that the Maximum Number of Shares has not been reached under the foregoing clause (i), the Class A Common Stock or
other securities that Parent desires to sell that can be sold without exceeding the Maximum Number of Shares; (iii) third, to
the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (i) and (ii), the Other Registrable
Securities as to which piggy-back registration has been requested pursuant to the Other Registration Rights Agreements (excluding
the holders who exercised such demand rights) and the Registrable Securities of the Investor as to which registration has been
requested pursuant to this Section 2.2, together that can be sold without exceeding the Maximum Number of Shares, with such Other
Registrable Securities and Registrable Securities being included Pro Rata; and (iv) fourth, to the extent that the Maximum Number
of Shares has not been reached under the foregoing clauses (i), (ii) and (iii), the Class A Common Stock or other securities for
the account of other Persons that Parent is obligated to register pursuant to written contractual arrangements with such Persons
and that can be sold without exceeding the Maximum Number of Shares; and

 

(c)
If the registration is a “demand” registration undertaken at the demand of Persons other than the Investor or the
holders of Other Registrable Securities, (i) first, the Class A Common Stock or other securities for the account of such demanding
Persons that can be sold without exceeding the Maximum Number of Shares; (ii) second, to the extent that the Maximum Number of
Shares has not been reached under the foregoing clause (i), the Class A Common Stock or other securities that Parent desires to
sell that can be sold without exceeding the Maximum Number of Shares; (iii) third, to the extent that the Maximum Number of Shares
has not been reached under the foregoing clauses (i) and (ii), the Other Registrable Securities as to which piggy-back registration
has been requested pursuant to the Other Registration Rights Agreements and the Registrable Securities of the Investor as to which
registration has been requested pursuant to this Section 2.2, together that can be sold without exceeding the Maximum Number of
Shares, with such Other Registrable Securities and Registrable Securities being included Pro Rata; and (iv) fourth, to the extent
that the Maximum Number of Shares has not been reached under the foregoing clauses (i), (ii) and (iii), the Class A Common Stock
or other securities for the account of other Persons that Parent is obligated to register pursuant to written contractual arrangements
with such Persons and that can be sold without exceeding the Maximum Number of Shares.

 

In
the event that Parent securities that are convertible into Class A Common Stock are included in the offering, the calculations
under this Section 2.2.2 shall include such Parent securities on an as-converted to Class A Common Stock basis. Notwithstanding
anything to the contrary contained above, to the extent that the registration of Investor’s Registrable Securities would
prevent Parent or the demanding stockholders from effecting such registration and offering, Investor shall not be permitted to
exercise Piggy-Back Registration rights with respect to such registration and offering.

 

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2.2.3
Withdrawal. The Investor may elect to withdraw its request for inclusion of Registrable Securities in any Piggy-Back Registration
by giving written notice to Parent of such request to withdraw prior to the effectiveness of the Registration Statement. Parent
(whether on its own determination or as the result of a withdrawal by Persons making a demand pursuant to written contractual
obligations) may withdraw a Registration Statement at any time prior to the effectiveness of such Registration Statement without
any liability to the Investor, subject to the next sentence and the provisions of Section 4. Notwithstanding any such withdrawal,
Parent shall pay all expenses incurred in connection with such Piggy-Back Registration as provided in Section 3.3 by the Investor
to the extent that it has requested to have its Registrable Securities included in such Piggy-Back Registration.

 

2.3
Registrations on Form S-3. After the Closing, subject to Section 2.4, the Investor may at any time and from time to time,
request in writing that Parent register the resale of any or all of such Registrable Securities on Form S-3 or any similar short-form
registration which may be available at such time (“Form S-3”); provided, however, that Parent
shall not be obligated to effect such request through an underwritten offering. As soon as practicable after receipt of such written
request, Parent will effect the registration of all or such portion of the Investor’s Registrable Securities as are specified
in such request; provided, however, that Parent shall not be obligated to effect any such registration pursuant to this Section
2.3: (i) if Form S-3 is not available to Parent for such resale offering, including if it is because a resale registration is
not permitted under applicable securities laws because Parent is a subsidiary of the Investor; or (ii) if the Investor, together
with the holders of any other securities of Parent entitled to inclusion in such registration, propose to sell Registrable Securities
and such other securities (if any) at any aggregate price to the public of less than $1,000,000. Registrations effected pursuant
to this Section 2.3 shall not be counted as Demand Registrations effected pursuant to Section 2.1.

 

2.4
Restriction of Offerings. Notwithstanding anything to the contrary contained in this Agreement, the Investor shall not
be entitled to request, and Parent shall not be obligated to effect, or to take any action to effect, any registration (including
any Demand Registration or Piggy-Back Registration) pursuant to this Section 2 with respect to any Registrable Securities during
the Lock-Up Period (as such term is defined in the Lock-Up Agreement) while they are subject to restrictions on transfer under
the Lock-Up Agreement.

 

3.
REGISTRATION PROCEDURES.

 

3.1
Filings; Information. Whenever Parent is required to effect the registration of any Registrable Securities by the Investor
pursuant to Section 2, Parent shall use its best efforts to effect the registration and sale of such Registrable Securities in
accordance with the intended method(s) of distribution thereof as expeditiously as practicable, and in connection with any such
request:

 

3.1.1
Filing Registration Statement. Parent shall use its best efforts to, as expeditiously as possible after receipt of a request
for a Demand Registration pursuant to Section 2.1, prepare and file with the SEC a Registration Statement on any form for which
Parent then qualifies or which counsel for Parent shall deem appropriate and which form shall be available for the sale of all
Registrable Securities to be registered thereunder in accordance with the intended method(s) of distribution thereof, and shall
use its best efforts to cause such Registration Statement to become effective and use its best efforts to keep it effective for
the period required by Section 3.1.3; provided, however, that Parent shall have the right to defer any Demand Registration
for up to ninety (90) days, and any Piggy-Back Registration for such period as may be applicable to deferment of any demand registration
to which such Piggy-Back Registration relates, in each case if Parent shall furnish to the Investor a certificate signed by the
President, Chief Executive Officer or Chairman of Parent stating that, in the good faith judgment of the Board of Directors of
Parent, it would be materially detrimental to Parent and its shareholders for such Registration Statement to be effected at such
time; provided further, however, that Parent shall not have the right to exercise the right set forth in the immediately preceding
proviso more than once in any 365-day period in respect of a Demand Registration hereunder.

 

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3.1.2
Copies. Parent shall, prior to filing a Registration Statement or prospectus, or any amendment or supplement thereto, furnish
without charge to the Investor and its legal counsel if the Investor is including Registrable Securities in such registration
copies of such Registration Statement as proposed to be filed, each amendment and supplement to such Registration Statement (in
each case including all exhibits thereto and documents incorporated by reference therein), the prospectus included in such Registration
Statement (including each preliminary prospectus), and such other documents as the Investor or its legal counsel may request in
order to facilitate the disposition of the Registrable Securities owned by the Investor.

 

3.1.3
Amendments and Supplements. Parent shall prepare and file with the SEC such amendments, including post-effective amendments,
and supplements to such Registration Statement and the prospectus used in connection therewith as may be necessary to keep such
Registration Statement effective and in compliance with the provisions of the Securities Act until all Registrable Securities
and other securities covered by such Registration Statement have been disposed of in accordance with the intended method(s) of
distribution set forth in such Registration Statement or such securities have been withdrawn or until such time as the Registrable
Securities cease to be Registrable Securities as defined by this Agreement.

 

3.1.4
Notification. After the filing of a Registration Statement, Parent shall promptly, and in no event more than three (3)
Business Days after such filing, notify the Investor of such filing, and shall further notify the Investor promptly and confirm
such advice in writing in all events within three (3) Business Days after the occurrence of any of the following: (i) when such
Registration Statement becomes effective; (ii) when any post-effective amendment to such Registration Statement becomes effective;
(iii) the issuance or threatened issuance by the SEC of any stop order (and Parent shall take all actions required to prevent
the entry of such stop order or to remove it if entered); and (iv) any request by the SEC for any amendment or supplement to such
Registration Statement or any prospectus relating thereto or for additional information or of the occurrence of an event requiring
the preparation of a supplement or amendment to such prospectus so that, as thereafter delivered to the purchasers of the securities
covered by such Registration Statement, such prospectus will not contain an untrue statement of a material fact or omit to state
any material fact required to be stated therein or necessary to make the statements therein not misleading, and promptly make
available to the Investor any such supplement or amendment; except that before filing with the SEC a Registration Statement or
prospectus or any amendment or supplement thereto, Parent shall furnish to the Investor and its legal counsel copies of all such
documents proposed to be filed sufficiently in advance of filing to provide the Investor and its legal counsel with a reasonable
opportunity to review such documents and comment thereon, and Parent shall not file any Registration Statement or prospectus or
amendment or supplement thereto to which the Investor or its legal counsel shall object.

 

3.1.5
State Securities Laws Compliance. Prior to any public offering of Registrable Securities, Parent shall use its best efforts
to (i) register or qualify the Registrable Securities covered by the Registration Statement under such securities or “blue
sky” laws of such jurisdictions in the United States as the Investor (in light of its intended plan of distribution) may
reasonably request and (ii) take such action necessary to cause such Registrable Securities covered by the Registration Statement
to be registered with or approved by such other governmental authorities as may be necessary by virtue of the business and operations
of Parent and do any and all other acts and things that may be necessary or advisable to enable the Investor to consummate the
disposition of such Registrable Securities in such jurisdictions; provided, however, that Parent shall not be required
to qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this paragraph
or take any action to which it would be subject to general service of process or taxation in any such jurisdiction where it is
not then otherwise so subject.

 

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3.1.6
Agreements for Disposition. Parent shall enter into customary agreements (including, if applicable, an underwriting agreement
in customary form) and take such other actions as are reasonably required in order to expedite or facilitate the disposition of
such Registrable Securities. The representations, warranties and covenants of Parent in any underwriting agreement which are made
to or for the benefit of any Underwriters, to the extent applicable, shall also be made to and for the benefit of the Investor.
The Investor shall not be required to make any representations or warranties in the underwriting agreement except, if applicable,
with respect to the Investor’s organization, good standing, authority, title to Registrable Securities, lack of conflict
of such sale with the Investor’s material agreements and organizational documents, and with respect to written information
relating to the Investor that the Investor has furnished in writing expressly for inclusion in such Registration Statement.

 

3.1.7
Cooperation. The principal executive officer of Parent, the principal financial officer of Parent, the principal accounting
officer of Parent and all other officers and members of the management of Parent shall cooperate fully in any offering of Registrable
Securities hereunder, which cooperation shall include the preparation of the Registration Statement with respect to such offering
and all other offering materials and related documents, and participation in meetings with Underwriters, attorneys, accountants
and potential investors.

 

3.1.8
Records. Parent shall make available for inspection by the Investor, any Underwriter participating in any disposition pursuant
to such registration statement and any attorney, accountant or other professional retained by the Investor or any Underwriter,
all financial and other records, pertinent corporate documents and properties of Parent, as shall be necessary to enable them
to exercise their due diligence responsibility, and cause Parent’s officers, directors and employees to supply all information
requested by any of them in connection with such Registration Statement.

 

3.1.9
Opinions and Comfort Letters. Parent shall furnish to the Investor a signed counterpart, addressed to the Investor, of
(i) any opinion of counsel to Parent delivered to any Underwriter and (ii) any comfort letter from Parent’s independent
public accountants delivered to any Underwriter. In the event no legal opinion is delivered to any Underwriter, Parent shall furnish
to the Investor, at any time that the Investor elects to use a prospectus, an opinion of counsel to Parent to the effect that
the Registration Statement containing such prospectus has been declared effective and that no stop order is in effect.

 

3.1.10 Earnings Statement. Parent shall comply with all applicable rules and regulations of the SEC and the Securities Act, and
make available to its shareholders, as soon as practicable, an earnings statement covering a period of twelve (12) months, which
earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder.

 

3.1.11 Listing. Parent shall use its best efforts to cause all Registrable Securities that are Class A Common Stock included in
any registration to be listed on such exchanges or otherwise designated for trading in the same manner as similar securities issued
by Parent are then listed or designated or, if no such similar securities are then listed or designated, in a manner satisfactory
to the Investor.

 

3.1.12 Road Show. If the registration involves the registration of Registrable Securities involving gross proceeds in excess of
$25,000,000, Parent shall use its reasonable efforts to make available senior executives of Parent to participate in customary
“road show” presentations that may be reasonably requested by the Underwriter in any underwritten offering.

 

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3.2
Obligation to Suspend Distribution. Upon receipt of any notice from Parent of the happening of any event of the kind described
in Section 3.1.4(iv), or, in the case of a resale registration on Form S-3 pursuant to Section 2.3 hereof, upon any suspension
by Parent, pursuant to a written insider trading compliance program adopted by Parent’s Board of Directors, of the ability
of all “insiders” covered by such program to transact in Parent’s securities because of the existence of material
non-public information, the Investor shall immediately discontinue disposition of its Registrable Securities pursuant to the Registration
Statement covering such Registrable Securities until the Investor receives the supplemented or amended prospectus contemplated
by Section 3.1.4(iv) or the restriction on the ability of “insiders” to transact in Parent’s securities is removed,
as applicable, and, if so directed by Parent, the Investor will deliver to Parent all copies, other than permanent file copies
then in the Investor’s possession, of the most recent prospectus covering such Registrable Securities at the time of receipt
of such notice.

 

3.3
Registration Expenses. Subject to Section 4, Parent shall bear all costs and expenses incurred in connection with any Demand
Registration pursuant to Section 2.1, any Piggy-Back Registration pursuant to Section 2.2, and any registration on Form S-3 effected
pursuant to Section 2.3, and all expenses incurred in performing or complying with its other obligations under this Agreement,
whether or not the Registration Statement becomes effective (“Registration Expenses”), including: (i)
all registration and filing fees; (ii) fees and expenses of compliance with securities or “blue sky” laws (including
fees and disbursements of counsel in connection with blue sky qualifications of the Registrable Securities); (iii) printing expenses;
(iv) Parent’s internal expenses (including all salaries and expenses of its officers and employees); (v) the fees and expenses
incurred in connection with the listing of the Registrable Securities as required by Section 3.1.11; (vi) Financial Industry Regulatory
Authority fees; (vii) fees and disbursements of counsel for Parent and fees and expenses for independent certified public accountants
retained by Parent (including the expenses or costs associated with the delivery of any opinions or comfort letters requested
pursuant to Section 3.1.9); (viii) the fees and expenses of any special experts retained by Parent in connection with such registration
and (ix) the fees and expenses of one legal counsel selected by the Investor. Parent shall have no obligation to pay any underwriting
discounts or selling commissions attributable to the Registrable Securities being sold by the Investor, which underwriting discounts
or selling commissions shall be borne by the Investor. Additionally, in an underwritten offering, all selling security holders
and Parent shall bear the expenses of the Underwriter pro rata in proportion to the respective amount of securities each is selling
in such offering.

 

3.4
Information. The Investor shall provide such information as may reasonably be requested by Parent, or the managing Underwriter,
if any, in connection with the preparation of any Registration Statement including any Registrable Securities of the Investor,
including amendments and supplements thereto, in order to effect the registration of any Registrable Securities under the Securities
Act pursuant to Section 2 and in connection with the obligation to comply with federal and applicable state securities laws.

 

4.
INDEMNIFICATION AND CONTRIBUTION.

 

4.1
Indemnification by Parent. Parent agrees to indemnify and hold harmless the Investor, and the Investor’s officers,
employees, affiliates, directors, partners, members, attorneys and agents, and each Person, if any, who controls the Investor
(within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) (each, an “Investor Indemnified
Party”), from and against any expenses, losses, judgments, claims, damages or liabilities, whether joint or several,
arising out of or based upon any untrue statement of a material fact contained in any Registration Statement under which the sale
of such Registrable Securities was registered under the Securities Act, any preliminary prospectus, final prospectus or summary
prospectus contained in the Registration Statement, or any amendment or supplement to such Registration Statement, or arising
out of or based upon any omission to state a material fact required to be stated therein or necessary to make the statements therein
not misleading, or any violation by Parent of the Securities Act or any rule or regulation promulgated thereunder applicable to
Parent and relating to action or inaction required of Parent in connection with any such registration; and Parent shall promptly
reimburse the Investor Indemnified Party for any legal and any other expenses reasonably incurred by such Investor Indemnified
Party in connection with investigating and defending any such expense, loss, judgment, claim, damage, liability or action; provided,
however, that Parent will not be liable in any such case to the extent that any such expense, loss, claim, damage or liability
arises out of or is based upon any untrue statement or omission made in such Registration Statement, preliminary prospectus, final
prospectus, or summary prospectus, or any such amendment or supplement, in reliance upon and in conformity with information furnished
to Parent, in writing, by such selling holder expressly for use therein. Parent also shall indemnify any Underwriter of the Registrable
Securities, their officers, affiliates, directors, partners, members and agents and each Person who controls such Underwriter
on substantially the same basis as that of the indemnification provided above in this Section 4.1.

 

    	 	10	 

     

    

 

4.2
Indemnification by the Investor. The Investor will, in the event that any registration is being effected under the Securities
Act pursuant to this Agreement of any Registrable Securities held by the Investor, indemnify and hold harmless Parent, each of
its directors and officers and each Underwriter (if any), and each other selling holder and each other Person, if any, who controls
another selling holder or such Underwriter within the meaning of the Securities Act, against any losses, claims, judgments, damages
or liabilities, whether joint or several, insofar as such losses, claims, judgments, damages or liabilities (or actions in respect
thereof) arise out of or are based upon any untrue statement of a material fact contained in any Registration Statement under
which the sale of such Registrable Securities was registered under the Securities Act, any preliminary prospectus, final prospectus
or summary prospectus contained in the Registration Statement, or any amendment or supplement to the Registration Statement, or
arise out of or are based upon any omission to state a material fact required to be stated therein or necessary to make the statement
therein not misleading, if the statement or omission was made in reliance upon and in conformity with information furnished in
writing to Parent by the Investor expressly for use therein, and shall reimburse Parent, its directors and officers, each Underwriter
and each other selling holder or controlling Person for any legal or other expenses reasonably incurred by any of them in connection
with investigation or defending any such loss, claim, damage, liability or action. The Investor’s indemnification obligations
hereunder shall be several and not joint and shall be limited to the amount of any net proceeds actually received by the Investor.

 

4.3
Conduct of Indemnification Proceedings. Promptly after receipt by any Person of any notice of any loss, claim, damage or
liability or any action in respect of which indemnity may be sought pursuant to Section 4.1 or 4.2, such Person (the “Indemnified
Party”) shall, if a claim in respect thereof is to be made against any other Person for indemnification hereunder,
notify such other Person (the “Indemnifying Party”) in writing of the loss, claim, judgment, damage,
liability or action; provided, however, that the failure by the Indemnified Party to notify the Indemnifying Party shall not relieve
the Indemnifying Party from any liability which the Indemnifying Party may have to such Indemnified Party hereunder, except and
solely to the extent the Indemnifying Party is actually prejudiced by such failure. If the Indemnified Party is seeking indemnification
with respect to any claim or action brought against the Indemnified Party, then the Indemnifying Party shall be entitled to participate
in such claim or action, and, to the extent that it wishes, jointly with all other Indemnifying Parties, to assume control of
the defense thereof with counsel satisfactory to the Indemnified Party. After notice from the Indemnifying Party to the Indemnified
Party of its election to assume control of the defense of such claim or action, the Indemnifying Party shall not be liable to
the Indemnified Party for any legal or other expenses subsequently incurred by the Indemnified Party in connection with the defense
thereof other than reasonable costs of investigation; provided, however, that in any action in which both the Indemnified Party
and the Indemnifying Party are named as defendants, the Indemnified Party shall have the right to employ separate counsel (but
no more than one such separate counsel) to represent the Indemnified Party and its controlling Persons who may be subject to liability
arising out of any claim in respect of which indemnity may be sought by the Indemnified Party against the Indemnifying Party,
with the fees and expenses of such counsel to be paid by such Indemnifying Party if, based upon the written opinion of counsel
of such Indemnified Party, representation of both parties by the same counsel would be inappropriate due to actual or potential
differing interests between them. No Indemnifying Party shall, without the prior written consent of the Indemnified Party, consent
to entry of judgment or effect any settlement of any claim or pending or threatened proceeding in respect of which the Indemnified
Party is or could have been a party and indemnity could have been sought hereunder by such Indemnified Party, unless such judgment
or settlement includes an unconditional release of such Indemnified Party from all liability arising out of such claim or proceeding.

 

    	 	11	 

     

    

 

4.4
Contribution.

 

4.4.1
If the indemnification provided for in the foregoing Sections 4.1, 4.2 and 4.3 is unavailable to any Indemnified Party in respect
of any loss, claim, damage, liability or action referred to herein, then each such Indemnifying Party, in lieu of indemnifying
such Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of such loss, claim,
damage, liability or action in such proportion as is appropriate to reflect the relative fault of the Indemnified Parties and
the Indemnifying Parties in connection with the actions or omissions which resulted in such loss, claim, damage, liability or
action, as well as any other relevant equitable considerations. The relative fault of any Indemnified Party and any Indemnifying
Party shall be determined by reference to, among other things, whether the untrue statement of a material fact or the omission
to state a material fact relates to information supplied by such Indemnified Party or such Indemnifying Party and the parties’
relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission.

 

4.4.2
The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 4.4 were determined
by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred
to in the immediately preceding Section 4.4.1.

 

4.4.3
The amount paid or payable by an Indemnified Party as a result of any loss, claim, damage, liability or action referred to in
the immediately preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other
expenses incurred by such Indemnified Party in connection with investigating or defending any such action or claim. Notwithstanding
the provisions of this Section 4.4, no holder of Registrable Securities shall be required to contribute any amount in excess of
the dollar amount of the net proceeds (after payment of any underwriting fees, discounts, commissions or taxes) actually received
by such holder from the sale of Registrable Securities which gave rise to such contribution obligation. No Person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person
who was not guilty of such fraudulent misrepresentation.

 

5.
UNDERWRITING AND DISTRIBUTION.

 

5.1
Rule 144. Parent covenants that it shall file any reports required to be filed by it under the Securities Act and the Exchange
Act and shall take such further action as the Investor may reasonably request, all to the extent required from time to time to
enable the Investor to sell Registrable Securities without registration under the Securities Act within the limitation of the
exemptions provided by Rule 144 under the Securities Act, as such Rule may be amended from time to time, or any similar rule or
regulation hereafter adopted by the SEC.

 

    	 	12	 

     

    

 

6.
MISCELLANEOUS.

 

6.1
Other Registration Rights. Parent represents and warrants that as of the date of this Agreement, no Person, other than
the holders of (i) the Registrable Securities, (ii) the Founder Securities and (iii) the PIPE Registrable Securities, has any
right to require Parent to register any of Parent’s capital stock for sale or to include Parent’s capital stock in
any registration filed by Parent for the sale of capital stock for its own account or for the account of any other Person.

 

6.2
Assignment; No Third Party Beneficiaries. This Agreement and the rights, duties and obligations of Parent hereunder may
not be assigned or delegated by Parent in whole or in part. This Agreement and the rights, duties and obligations of the Investor
hereunder may be freely assigned or delegated by the Investor in conjunction with and to the extent of any permitted transfer
of Registrable Securities by the Investor. In the event of any such assignment by the Investor of some but not all of its rights
hereunder, the assignee will be included in the term “Investor” under this Agreement and shall have pro rata rights
under this Agreement with respect to the Registrable Securities so transferred to it, but any determination, consent or action
by the Investor hereunder will require the holders of a majority-in-interest of the Registrable Securities. This Agreement and
the provisions hereof shall be binding upon and shall inure to the benefit of each of the parties, to the permitted assigns of
the Investor or of any assignee of the Investor. This Agreement is not intended to confer any rights or benefits on any Persons
that are not party hereto other than as expressly set forth in Article 4 and this Section 6.2. If the Parent Representative is
replaced in accordance with the terms of the Merger Agreement, the replacement Parent Representative shall automatically become
a party to this Agreement as if it were the original Parent Representative hereunder.

 

6.3
Notices. All notices, consents, waivers and other communications hereunder shall be in writing and shall be deemed to have
been duly given when delivered (i) in person, (ii) by facsimile or other electronic means, with affirmative confirmation of receipt,
(iii) one Business Day after being sent, if sent by reputable, nationally recognized overnight courier service or (iv) three (3)
Business Days after being mailed, if sent by registered or certified mail, pre-paid and return receipt requested, in each case
to the applicable Party at the following addresses (or at such other address for a Party as shall be specified by like notice):

 

	If
                                         to the Parent Representative, to:
	With
    a copy to (which shall not constitute notice):
	 	 	 	 
	Global
    Partner Sponsor I LLC	Ellenoff
    Grossman & Schole, LLP
	c/o
    Ellenoff Grossman & Schole, LLP	1345
    Avenue of the Americas, 11th Floor
	1345
    Avenue of the Americas, 11th Floor	New
    York, NY 10105
	New
    York, NY 10105	Attn:	Douglas
    Ellenoff, Esq.
	Attn:
     	Douglas
    Ellenoff, Esq.  	 	Stuart
    Neuhauser, Esq.
	 	Stuart
    Neuhauser, Esq.   	Fax:	(212)
    370-7889
	Fax:	(212)
    370-7889       	Tel:	(212)
    370-1300
	Tel:	(212)
    370-1300  	Email:	ellenoff@egsllp.com
	Email:	ellenoff@egsllp.com	 	sneuhauser@egsllp.com
	 	sneuhauser@egsllp.com	 	 

 

    	 	13	 

     

    

 

	If
    to Parent after the Closing, to:	With
    copies to (which shall not constitute notice):
	 	 	 	 
	Purple
                                         Innovation, Inc.
	Dorsey
    & Whitney LLP
	123
    E. 200 N.	111
    S. Main St., Suite 2100
	Alpine,
    UT 84004	Salt
    Lake City, UT 84111
	Attn:	Casey
    McGarvey	Attn:	Nolan
    S. Taylor
	Email:	casey@purple.com	E-mail:	taylor.nolan@dorsey.com
			Fax:	(801)
    933-7373
	 	 	Tel:	(801)
    933-7366
	 	 	 	 
	 	 	and	 
	 	 	 	 
	 	 	the
    Parent Representative (and its copy for notices hereunder)

 

	If
    to the Investor, to:	With
    a copy to (which shall not constitute notice):
	 	 	 	 
	InnoHold,
    LLC	Dorsey
    & Whitney LLP
	123
    E.  200 N.	111
    S. Main St., Suite 2100
	Alpine,
    UT 84004	Salt
    Lake City, UT 84111
	Attn:	Casey
    McGarvey	Attn:	Nolan
    S. Taylor
	Email:	casey@purple.com	E-mail:	taylor.nolan@dorsey.com
	 	 	Fax:	(801)
    933-7373
	 	 	Tel:	(801)
    933-7366

  

6.4
Severability. This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision
hereof shall not affect the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore,
in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part
of this Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible that is valid
and enforceable.

 

6.5
Counterparts. This Agreement may be executed in multiple counterparts (including by facsimile or pdf or other electronic
document transmission), each of which shall be deemed an original, and all of which taken together shall constitute one and the
same instrument.

 

6.6
Entire Agreement. This Agreement (together with the Merger Agreement and the Lock-Up Agreement to the extent incorporated
herein, and including all agreements entered into pursuant hereto or thereto or referenced herein or therein and all certificates
and instruments delivered pursuant hereto and thereto) constitutes the entire agreement of the parties with respect to the subject
matter hereof and supersedes all prior and contemporaneous agreements, representations, understandings, negotiations and discussions
between the parties, whether oral or written, relating to the subject matter hereof; provided, that, for the avoidance
of doubt, the foregoing shall not affect the rights and obligations of the parties under the Merger Agreement or any other Related
Document or the rights or obligations of the parties under the Other Registrations Rights Agreements.

 

6.7
Interpretation. Titles and headings of sections of this Agreement are for convenience only and shall not affect the construction
of any provision of this Agreement. In this Agreement, unless the context otherwise requires: (i) any pronoun used in this Agreement
shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall
include the plural and vice versa; (ii) “including” (and with correlative meaning “include”) means including
without limiting the generality of any description preceding or succeeding such term and shall be deemed in each case to be followed
by the words “without limitation”; (iii) the words “herein,” “hereto,” and “hereby”
and other words of similar import in this Agreement shall be deemed in each case to refer to this Agreement as a whole and not
to any particular section or other subdivision of this Agreement; and (iv) the term “or” means “and/or”.
The parties have participated jointly in the negotiation and drafting of this Agreement. Consequently, in the event an ambiguity
or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto,
and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision
of this Agreement.

 

    	 	14	 

     

    

 

6.8
Amendments; Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may be
waived (either generally or in a particular instance, and either retroactively or prospectively) only with the written agreement
or consent of Parent, the Parent Representative and the Investor. No failure or delay by a party in exercising any right hereunder
shall operate as a waiver thereof. No waivers of or exceptions to any term, condition, or provision of this Agreement, in any
one or more instances, shall be deemed to be or construed as a further or continuing waiver of any such term, condition, or provision

 

6.9
Remedies Cumulative. In the event a party fails to observe or perform any covenant or agreement to be observed or performed
under this Agreement, the other parties may proceed to protect and enforce its rights by suit in equity or action at law, whether
for specific performance of any term contained in this Agreement or for an injunction against the breach of any such term or in
aid of the exercise of any power granted in this Agreement or to enforce any other legal or equitable right, or to take any one
or more of such actions, without being required to post a bond. None of the rights, powers or remedies conferred under this Agreement
shall be mutually exclusive, and each such right, power or remedy shall be cumulative and in addition to any other right, power
or remedy, whether conferred by this Agreement or now or hereafter available at law, in equity, by statute or otherwise.

 

6.10
Governing Law; Jurisdiction. This Agreement shall be governed by, construed and enforced in accordance with the laws of
the State of Delaware without regard to the conflict of laws principles thereof. All actions, claims or other legal proceedings
arising out of or relating to this Agreement (a “Proceeding”) shall be heard and determined exclusively
in any state or federal court located in the State of Delaware (or in any court in which appeal from such courts may be taken)
(the “Specified Courts”). Each party hereto hereby (a) submits to the exclusive jurisdiction of any
Specified Court for the purpose of any Proceeding brought by any party hereto and (b) irrevocably waives, and agrees not to assert
by way of motion, defense or otherwise, in any such 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 Proceeding is brought
in an inconvenient forum, that the venue of the Proceeding is improper, or that this Agreement or the transactions contemplated
hereby may not be enforced in or by any Specified Court. Each party agrees that a final judgment in any Proceeding shall be conclusive
and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by applicable Law. Each party
irrevocably consents to the service of the summons and complaint and any other process in any Proceeding, on behalf of itself,
or its property, by personal delivery of copies of such process to such party at the applicable address set forth in Section 6.3.
Nothing in this Section 6.10 shall affect the right of any party to serve legal process in any other manner permitted by applicable
Law.

 

6.11
WAIVER OF TRIAL BY JURY. EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES THE RIGHT TO A TRIAL BY JURY IN ANY ACTION,
SUIT, COUNTERCLAIM OR OTHER PROCEEDING (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF, CONNECTED WITH OR RELATING
TO THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREBY, OR THE ACTIONS OF THE INVESTORS IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE
OR ENFORCEMENT HEREOF.

 

6.12
Termination of Merger Agreement. This Agreement shall be binding upon each party upon such party’s execution and
delivery of this Agreement, but this Agreement shall only become effective upon the Closing under the Merger Agreement. In the
event that the Merger Agreement is validly terminated in accordance with its terms prior to the Closing, this Agreement shall
automatically terminate and become null and void and be of no further force or effect, and the parties shall have no obligations
hereunder.

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK; SIGNATURE PAGES FOLLOW]

  

    	 	15	 

     

    

 

IN
WITNESS WHEREOF, the parties have caused this Registration Rights Agreement to be executed and delivered as of the date first
written above.

 

	  
	Parent:
	 	 
	 	GLOBAL
    PARTNER ACQUISITION CORP.
	 	 	 
	 	By:	/s/
    Paul Zepf
	 	Name:	Paul
    Zepf
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	The
    Parent Representative:
	 	 
	 	GLOBAL
    PARTNER SPONSOR I LLC, 

    solely in its capacity under the Merger Agreement as the Parent Representative
	 	 
	 	By:	/s/
    Paul Zepf
	 	Name:	Paul
    Zepf
	 	Title:	Manager
	 	 	 
	 	The
    Investor:
	 	 
	 	INNOHOLD,
    LLC
	 	 
	 	By:	/s/
    Terry V. Pearce
	 	Name:	Terry
    V. Pearce
	 	Title:	Manager

 

 

 

{Signature
Page to Registration Rights Agreement}

 

16Exhibit
10.4

 

NON-COMPETITION
AND NON-SOLICITATION AGREEMENT

 

THIS
NON-COMPETITION AND NON-SOLICITATION AGREEMENT (this “Agreement”) is being executed and delivered as
of February 8, 2018 by each of InnoHold, LLC, a Delaware limited liability company (“InnoHold”),
Terry Pearce (“Terry”) and Tony Pearce (“Tony” and together
with Terry, the “Founders” and collectively with InnoHold, the “Sellers”),
in favor of and for the benefit of Global Partner Acquisition Corp., a Delaware corporation, which will be known after
the consummation of the transactions contemplated by the Merger Agreement (as defined below) as “Purple Innovation, Inc.”
(including any successor entity thereto, “Parent”), Purple Innovation, LLC, a Delaware limited
liability company (including any successor entity thereto, the “Company”), and each of Parent’s
and/or the Company’s respective present and future Affiliates, successors and direct and indirect Subsidiaries (collectively
with Parent and the Company, the “Covered Parties”). Any capitalized term used, but not defined in this
Agreement will have the meaning ascribed to such term in the Merger Agreement (defined below).

 

WHEREAS,
on November 2, 2017, Parent, PRPL Acquisition, LLC, a Delaware limited liability company and a wholly-owned subsidiary of Parent
(“Merger Sub”), the Company, InnoHold and Global Partner Sponsor I LLC, a Delaware limited liability
company, in its capacity under the Merger Agreement as the Parent Representative (the “Parent Representative”),
entered into that certain Agreement and Plan of Merger (as amended from time to time in accordance with the terms thereof, the
“Merger Agreement”), pursuant to which, subject to the terms and conditions thereof, Merger Sub will
merge with and into the Company, with the Company continuing as the surviving entity (the “Merger”),
and a result of which, among other matters, all of the issued and outstanding membership interests of the Company immediately
prior to the consummation of the Merger (the “Closing”) shall no longer be outstanding and shall automatically
be cancelled and shall cease to exist, in exchange for the Merger Consideration;

 

WHEREAS,
on January 8, 2018, the parties to the Merger Agreement amended certain provisions therein;

 

WHEREAS,
the Company is in the business of (i) designing and manufacturing comfort technology products worldwide to improve how people
sleep, sit, and stand, including mattresses, pillows, platform bases and cushions, and (ii) marketing, licensing and selling its
products worldwide through direct-to-consumer, traditional retail channels and partnerships (clauses (i) and (ii), collectively,
the “Business”);

 

WHEREAS,
in connection with, and as a condition to the consummation of the transactions contemplated by the Merger Agreement (the “Transactions”),
and to enable Parent to secure more fully the benefits of the Transactions, including the protection and maintenance of the goodwill
and confidential information of the Company, Parent has required that the Sellers enter into this Agreement;

 

WHEREAS,
the Sellers are entering into this Agreement in order to induce Parent to consummate the Transactions, pursuant to which the Sellers
will directly or indirectly receive a material benefit; and

 

WHEREAS,
InnoHold is the sole member of the Company, and each Founder is a significant equity holder of InnoHold and a director, executive
officer and founder of the Company, and each Seller has contributed to the value of the Company and has obtained extensive and
valuable knowledge and confidential information concerning the business of the Company.

 

     

     

    

 

NOW,
THEREFORE, in order to induce Parent to consummate the Transactions, and for other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, the Seller hereby agrees as follows:

 

1.
Restriction on Competition.

 

(a)
Restriction. Each Seller hereby agrees that during the Restricted Period, such Seller will not, and will not permit its
Affiliates to, without the prior written consent of Parent (which may be withheld in its sole discretion), anywhere in the world,
directly or indirectly engage in the Business (other than through a Covered Party) or own, manage, finance or control, or participate
in the ownership, management, financing or control of, or become engaged or serve as an officer, director, member, partner, employee,
agent, consultant, advisor or representative of, a business or entity (other than a Covered Party) that engages in the Business
(a “Competitor”). For purposes of this Agreement: (i) the “Restricted Period”
means the period from the Closing until the later of (x) the three (3) year anniversary of the Closing Date and (y) the one (1)
year anniversary of the Termination Date; and (ii) the “Termination Date” means with respect to any
Seller the date on which such Seller is no longer a director, officer, manager or employee of Parent or any of its Subsidiaries.

 

(b)
Exceptions. Notwithstanding the foregoing: (i) any Seller and its Affiliates may own passive investments of no more than
two percent (2%) of any class of outstanding equity interests in a Competitor that is publicly traded, so long as such Seller
and its Affiliates and their respective directors, officers, managers and employees who were involved with the business of the
Covered Parties, and the immediate family members of the Seller or its Affiliates, are not involved in the management or control
of such Competitor (“Permitted Ownership”); and (ii) the Sellers’ continued ownership, control
and operation of EdiZONE, LLC, a Delaware limited liability company (“EdiZONE”), will not be deemed
to violate the provisions of this Section 1 so long (A) as the Sellers and EdiZONE comply with the terms and conditions
of the Amended and Restated Confidential Assignment and License Back Agreement between EdiZONE and the Company executed November
1, 2017 and effective December 27, 2016 (the “Amended EdiZONE Agreement”) and (B) the Sellers and EdiZONE
and their respective Affiliates do not directly or indirectly compete with the Business anywhere in the world other than EdiZONE
performing its obligations under its existing third party license agreements as in effect as of the date hereof.

 

(c)
Acknowledgment. Each Seller acknowledges and agrees, based upon such Seller’s own education, experience and training,
that (i) such Seller possesses knowledge of confidential information of the Company and its Subsidiaries and the Business, (ii)
such Seller’s execution of this Agreement is a material inducement to Parent to consummate the Transactions and to realize
the goodwill of the Company and its Subsidiaries, for which such Seller will receive a substantial direct or indirect financial
benefit, and that Parent would not have entered into the Merger Agreement or consummated the Transactions but for such Seller’s
agreements set forth in this Agreement; (iii) it would impair the goodwill of the Company and its Subsidiaries and reduce the
value of the assets of the Company and its Subsidiaries and cause serious and irreparable injury if such Seller were to use its
ability and knowledge by engaging in the Business in competition with a Covered Party, and/or to otherwise breach the obligations
contained herein and that the Covered Parties would not have an adequate remedy at law because of the unique nature of the Business,
(iv) neither such Seller nor its Affiliates have any intention of engaging in the Business (other than through the Covered Parties)
during the Restricted Period other than through Permitted Ownership, (v) the relevant public policy aspects of restrictive covenants,
covenants not to compete and non-solicitation provisions have been discussed, and every effort has been made to limit the restrictions
placed upon such Seller to those that are reasonable and necessary to protect the Covered Parties’ legitimate interests,
(vi) the Covered Parties conduct and intend to conduct the Business everywhere in the world and compete with other businesses
that are or could be located in any part of the world, (vii) the foregoing restrictions on competition are fair and reasonable
in type of prohibited activity, geographic area covered, scope and duration, (viii) the consideration provided to such Seller
under this Agreement and the Merger Agreement is not illusory, and (ix) such provisions do not impose a greater restraint than
is necessary to protect the goodwill or other business interests of the Covered Parties.

 

    	 	2	 

     

    

 

2.
No Solicitation; No Disparagement.

 

(a)
No Solicitation of Employees and Consultants. Each Seller agrees that, during the Restricted Period, such Seller will not,
and will not permit its Affiliates to, without the prior written consent of Parent (which may be withheld in its sole discretion),
either on its own behalf or on behalf of any other Person (other than, if applicable, a Covered Party in the performance of such
Seller’s or its Affiliate’s duties on behalf of the Covered Parties), directly or indirectly: (i) hire or engage as
an employee, independent contractor, consultant or otherwise any Covered Personnel (as defined below); (ii) solicit, induce, encourage
or otherwise cause (or attempt to do any of the foregoing) any Covered Personnel to leave the service (whether as an employee,
consultant or independent contractor) of any Covered Party; or (iii) in any way interfere with or attempt to interfere with the
relationship between any Covered Personnel and any Covered Party; provided, however, a Seller and its Affiliates
will not be deemed to have violated this Section 2(a) if any Covered Personnel voluntarily and independently solicits an
offer of employment from such Seller or its Affiliate (or other Person whom such Seller or its Affiliate is acting on behalf of)
by responding to a general advertisement or solicitation program conducted by or on behalf of such Seller or its Affiliate (or
such other Person whom such Seller or its Affiliate is acting on behalf of) that is not targeted at such Covered Personnel or
Covered Personnel generally, so long as such Covered Personnel is not hired. For purposes of this Agreement, “Covered
Personnel” shall mean any Person who is or was an employee, consultant or independent contractor of the Covered
Parties, (A) if the relevant time of determination is before the Termination Date, as of such date of determination or during
the one (1) year period preceding such date and, (B) if the relevant time of determination is after the Termination Date, as of
the Termination Date or during the one (1) year period preceding the Termination Date; provided, that Covered Personnel
will not include (i) any Founder’s spouse, child or grandchild or a spouse of a Founder’s child or grandchild, (ii)
Casey McGarvey if such individual’s employment with the employing Covered Parties has already been terminated at least three
months prior to being hired by a Seller or its Affiliate and such individual is not released from any non-competition, non-solicitation,
confidentiality, assignment of intellectual property or similar protective covenants on behalf of any Covered Party and (iii)
any individual who is terminated by its employing or engaging Covered Parties at least three months prior to being hired by a
Seller or its Affiliate, so long as the Sellers comply with their respective obligations hereunder with respect to such individual
during such three month post-termination period.

 

(b)
Non-Solicitation of Customers and Suppliers. Each Seller agrees that, during the Restricted Period, such Seller will not,
and will not permit its Affiliates to, without the prior written consent of Parent (which may be withheld in its sole discretion),
individually or on behalf of any other Person (other than, if applicable, a Covered Party in the performance of such Seller’s
or its Affiliate’s duties on behalf of the Covered Parties), directly or indirectly: (i) solicit, induce, encourage or otherwise
cause (or attempt to do any of the foregoing) any Covered Customer (as defined below) to (A) cease being, or not become, a client
or customer of any Covered Party with respect to the Business or (B) reduce the amount of business of such Covered Customer with
any Covered Party, or otherwise alter such business relationship in a manner adverse to any Covered Party, in either case, with
respect to or relating to the Business; (ii) interfere with or disrupt (or attempt to interfere with or disrupt) the contractual
relationship between any Covered Party and any Covered Customer; (iii) divert any business with any Covered Customer relating
to the Business from a Covered Party; (iv) solicit for business, provide services to, engage in or do business with, any Covered
Customer for products or services that are part of the Business; or (v) interfere with or disrupt (or attempt to interfere with
or disrupt), any Person that was a vendor, supplier, distributor, agent or other service provider of a Covered Party at the time
of such interference or disruption, for a purpose competitive with a Covered Party as it relates to the Business. For purposes
of this Agreement, a “Covered Customer” shall mean any Person who is or was an actual customer or client
(or prospective customer or client with whom a Covered Party actively marketed or made or taken specific action to make a proposal)
of a Covered Party, (A) if the relevant time of determination is before the Termination Date, as of such date of determination
or during the one (1) year period preceding such date and, (B) if the relevant time of determination is after the Termination
Date, as of the Termination Date or during the one (1) year period preceding the Termination Date. Notwithstanding the foregoing,
EdiZONE may continue to perform its obligations under its existing third party license agreements as in effect as of the date
hereof, even with respect to Covered Customers, in accordance with the terms and conditions of the Amended EdiZONE Agreement.

 

    	 	3	 

     

    

 

(c)
Non-Disparagement.

 

(i)
Each Seller agrees that from and after the Closing Date, such Seller will not, and will not permit its Affiliates to, directly
or indirectly engage in any conduct that involves the making or publishing (including through electronic mail distribution or
online social media) of any written or oral public statements or remarks (including the repetition or distribution of derogatory
rumors, allegations, negative reports or comments) that are disparaging, deleterious or damaging to the integrity, reputation
or good will of one or more Covered Parties or their respective management, officers, employees, independent contractors or consultants.
Notwithstanding the foregoing, subject to Section 3 below, the provisions of this Section 2(c)(i) shall not restrict
such Seller or its Affiliates from providing truthful testimony or information in response to a subpoena or investigation by a
Governmental Authority or in connection with any legal action by such Seller or its Affiliate against any Covered Party under
this Agreement, the Merger Agreement or any other Related Document that is asserted in good faith.

 

(ii)
Parent agrees that from and after the Closing Date, Parent’s officers and directors will not directly or indirectly engage
in any conduct that involves the making or publishing (including through electronic mail distribution or online social media)
of any written or oral public statements or remarks (including the repetition or distribution of derogatory rumors, allegations,
negative reports or comments) that are disparaging, deleterious or damaging to the integrity, reputation or good will of any Seller.
Notwithstanding the foregoing, subject to Section 3 below, the provisions of this Section 2(c)(ii) shall not restrict
Parent’s officers or directors from providing truthful testimony or information in response to a subpoena or investigation
by a Governmental Authority or in connection with any legal action by a Covered Party against any Seller under this Agreement,
the Merger Agreement or any other Related Document that is asserted in good faith.

 

3.
Confidentiality. From and after the Closing Date, each Seller will, and will cause its Representatives to (but with respect
to its controlling Affiliates, only to the extent it is able), keep confidential and not (except, if applicable, in the performance
of such Seller’s duties on behalf of the Covered Parties) directly or indirectly use, disclose, reveal, publish, transfer
or provide access to, any and all Covered Party Information without the prior written consent of Parent (which may be withheld
in its sole discretion). As used in this Agreement, “Covered Party Information” means all material and
information relating to the business, affairs and assets of any Covered Party, including material and information that concerns
or relates to such Covered Party’s bidding and proposal, technical, computer hardware or software, administrative, management,
operational, data processing, financial, marketing, sales, human resources, business development, planning and/or other business
activities, regardless of whether such material and information is maintained in physical, electronic, or other form, that is:
(A) gathered, compiled, generated, produced or maintained by such Covered Party through its Representatives, or provided to such
Covered Party by its suppliers, service providers or customers; and (B) intended and maintained by such Covered Party or its Representatives,
suppliers, service providers or customers to be kept in confidence. The obligations set forth in this Section 3 will not
apply to any Covered Party Information where such Seller can prove that such material or information: (i) is known or available
through other lawful sources not bound by a confidentiality agreement with, or other confidentiality obligation to, any Covered
Party; (ii) is or becomes publicly known through no violation of this Agreement or other non-disclosure obligation of such Seller
or any of its Representatives; (iii) is already in the possession of such Seller at the time of disclosure through lawful sources
not bound by a confidentiality agreement or other confidentiality obligation as evidenced by such Seller’s documents and
records; or (iv) is required to be disclosed pursuant to an order of any administrative body or court of competent jurisdiction
(provided that (A) the applicable Covered Party is given reasonable prior written notice, (B) such Seller cooperates (and
causes its Representatives to cooperate) with any reasonable request of any Covered Party to seek to prevent or narrow such disclosure
and (C) if after compliance with clauses (A) and (B) such disclosure is still required, such Seller and its Representatives only
disclose such portion of the Covered Party Information that is expressly required by such order, as it may be subsequently narrowed).
Notwithstanding the foregoing, Sellers may disclose information to EdiZONE and EdiZONE’s third party licensees consistent
with the Amended EdiZONE Agreement and as required by the underlying EdiZONE third-party licenses, so long as the Sellers have
obtained (subject to customary terms and conditions to the extent EdiZONE and the third party licensees are not already subject
to confidentiality obligations directly to the Sellers or indirectly through EdiZONE) and enforce (directly or indirectly through
EdiZONE) strict confidentiality obligations against EdiZONE and such third party licensees with respect to such information consistent
with the requirements of the terms and conditions of the Amended EdiZONE Agreement. For the avoidance of doubt, nothing herein
imposes (i) liability to the Sellers to the extent that any such confidential information has previously been provided to EdiZONE
or its third party licensees prior to the date of this Agreement (so long as the Sellers enforce confidentiality obligations with
respect to such information from and after the date of this Agreement) or (ii) an obligation onto Sellers to obtain or seek stricter
obligations of confidentiality from existing third party licensees of EdiZONE than what already exists in their respective license
agreements.

 

    	 	4	 

     

    

 

4.
Representations and Warranties. Each Seller hereby represents and warrants, to and for the benefit of the Covered Parties
as of the date of this Agreement and as of the Closing Date, that: (a) such Seller has full power and capacity to execute and
deliver, and to perform all of such Seller’s obligations under, this Agreement; and (b) neither the execution and delivery
of this Agreement nor the performance of such Seller’s obligations hereunder will result directly or indirectly in a violation
or breach of any agreement or obligation by which such Seller is a party or otherwise bound. By entering into this Agreement,
each Seller certifies and acknowledges that such Seller has carefully read all of the provisions of this Agreement, and that such
Seller voluntarily and knowingly enters into this Agreement.

 

5.
Remedies. The covenants and undertakings of the Sellers contained in this Agreement relate to matters which are of a special,
unique and extraordinary character and a violation of any of the terms of this Agreement may cause irreparable injury to the Covered
Parties, the amount of which may be impossible to estimate or determine and which cannot be adequately compensated. Each Seller
agrees that, in the event of any breach or threatened breach by such Seller of any covenant or obligation contained in this Agreement,
each applicable Covered Party will be entitled to seek the following remedies (in addition to, and not in lieu of, any other remedy
at law or in equity or pursuant to the Merger Agreement or the other Related Documents that may be available to the Covered Parties,
including monetary damages), and a court of competent jurisdiction may award: (i) an injunction, restraining order or other equitable
relief restraining or preventing such breach or threatened breach, without the necessity of proving actual damages or posting
bond or security, which each Seller expressly waives; and (ii) recovery of the Covered Party’s attorneys’ fees and
costs incurred in enforcing the Covered Party’s rights under this Agreement. Each Seller hereby consents to the award of
any of the above remedies to the applicable Covered Party in connection with any such breach or threatened breach. Each Seller
hereby acknowledges and agrees that in the event of any breach of this Agreement, any value attributed or allocated to this Agreement
(or any other non-competition agreement with such Seller) under or in connection with the Merger Agreement shall not be considered
a measure of, or a limit on, the damages of the Covered Parties.

 

6.
Survival of Obligations. The expiration of the Restricted Period will not relieve a Seller of any obligation or liability
arising from any breach by such Seller of this Agreement during the Restricted Period. Each Seller further agrees that the time
period during which the covenants contained in Section 1 and Section 2 of this Agreement will be effective will
be computed by excluding from such computation any time during which such Seller is in violation of any provision of such Sections.

 

    	 	5	 

     

    

 

7.
Miscellaneous.

 

(a)
Notices. All notices, consents, waivers and other communications hereunder shall be in writing and shall be deemed to have
been duly given when delivered (i) in person, (ii) by facsimile or other electronic means, with affirmative confirmation of receipt,
(iii) one Business Day after being sent, if sent by reputable, nationally recognized overnight courier service or (iv) three (3)
Business Days after being mailed, if sent by registered or certified mail, pre-paid and return receipt requested, in each case
to the applicable party at the following addresses (or at such other address for a party as shall be specified by like notice):

 

	If
                                         to Parent (or any other Covered Party), to:

	with
    a copy (that will not constitute notice) to: 
	Purple
    Innovation, Inc.	Ellenoff
    Grossman & Schole LLP
	123
    E. 200 N.	1345
    Avenue of the Americas, 11th Floor
	Alpine,
    UT 84004	New
    York, New York 10105
	Attn:	Casey
    McGarvey	Attn:	Douglas
    Ellenoff, Esq.
	Email:	casey@onpurple.com	 	Stuart Neuhauser,
    Esq.
	 	 	Facsimile
    No.:	(212) 370-7889
	and	Telephone No.:	(212) 370-1300
	 	 	Email:	ellenoff@egsllp.com
	Global
    Partner Sponsor I LLC		sneuhauser@egsllp.com
	c/o
    Ellenoff Grossman & Schole LLP	 	
	1345
    Avenue of the Americas, 11th Floor	 	 
	New
    York, NY 10105	 	 
	Attn:	Douglas Ellenoff, Esq.	 	 
	 	Stuart Neuhauser,
    Esq.	 	 
	Fax:	(212) 370-7889	 	 
	Tel:	(212) 370-1300	 	 
	Email:	ellenoff@egsllp.com	 	 
	 	sneuhauser@egsllp.com	 	 
	 	 	 	 
	If
                                         to any Seller, to:

	With
                                         a copy to (which shall not constitute notice):

	 	 
	InnoHold,
    LLC	Dorsey
    & Whitney LLP
	123
    E. 200 N.	111
    S. Main St., Suite 2100
	Alpine,
    UT 84004	Salt
    Lake City, UT 84111
	Attn:	Casey McGarvey	Attn:	Nolan S.
    Taylor
	Email:	casey@onpurple.com	E-mail:	taylor.nolan@dorsey.com
	 	 	Fax:	(801) 933-7373
	 	 	Tel:	(801) 933-7366

 

(b)
Integration and Non-Exclusivity. This Agreement, the Merger Agreement and the other Related Documents contain the entire
agreement between the Sellers and the Covered Parties concerning the subject matter hereof. Notwithstanding the foregoing, the
rights and remedies of the Covered Parties under this Agreement are not exclusive of or limited by any other rights or remedies
which they may have, whether at law, in equity, by contract or otherwise, all of which will be cumulative (and not alternative).
Without limiting the generality of the foregoing, the rights and remedies of the Covered Parties, and the obligations and liabilities
of the Sellers and their Affiliates, under this Agreement, are in addition to their respective rights, remedies, obligations and
liabilities (i) under the laws of unfair competition, misappropriation of trade secrets, or other requirements of statutory or
common law, or any applicable rules and regulations and (ii) otherwise conferred by contract, including the Merger Agreement and
any other written agreement between a Seller or its Affiliate and any of the Covered Parties. Nothing in the Merger Agreement
will limit any of the obligations, liabilities, rights or remedies of a Seller or the Covered Parties under this Agreement, nor
will any breach of the Merger Agreement or any other agreement between a Seller or its Affiliate and any of the Covered Parties
limit or otherwise affect any right or remedy of the Covered Parties under this Agreement. If any term or condition of any other
agreement between a Seller or its Affiliate and any of the Covered Parties conflicts or is inconsistent with the terms and conditions
of this Agreement, the more restrictive terms will control as to such Seller or its Affiliate, as applicable.

 

    	 	6	 

     

    

 

(c)
Severability; Reformation. Each provision of this Agreement is separable from every other provision of this Agreement.
If any provision of this Agreement is found or held to be invalid, illegal or unenforceable, in whole or in part, by a court of
competent jurisdiction, then (i) such provision will be deemed amended to conform to applicable laws so as to be valid, legal
and enforceable to the fullest possible extent, (ii) the invalidity, illegality or unenforceability of such provision will
not affect the validity, legality or enforceability of such provision under any other circumstances or in any other jurisdiction,
and (iii) the invalidity, illegality or unenforceability of such provision will not affect the validity, legality or enforceability
of the remainder of such provision or the validity, legality or enforceability of any other provision of this Agreement. The Sellers
and the Covered Parties will substitute for any invalid, illegal or unenforceable provision a suitable and equitable provision
that carries out, so far as may be valid, legal and enforceable, the intent and purpose of such invalid, illegal or unenforceable
provision. Without limiting the foregoing, if any court of competent jurisdiction determines that any part hereof is unenforceable
because of the duration, geographic area covered, scope of such provision, or otherwise, such court will have the power to reduce
the duration, geographic area covered or scope of such provision, as the case may be, and, in its reduced form, such provision
will then be enforceable. The Sellers will, at a Covered Party’s request, join such Covered Party in requesting that such
court take such action.

 

(d)
Amendment; Waiver. This Agreement may not be amended or modified in any respect, except by a written agreement executed
by the Sellers, Parent and the Parent Representative (or their respective permitted successors or assigns). No waiver will be
effective unless it is expressly set forth in a written instrument executed by the waiving party (and if such waiving party is
a Covered Party, the Parent Representative) and any such waiver will have no effect except in the specific instance in which it
is given. Any delay or omission by a party in exercising its rights under this Agreement, or failure to insist upon strict compliance
with any term, covenant, or condition of this Agreement will not be deemed a waiver of such term, covenant, condition or right,
nor will any waiver or relinquishment of any right or power under this Agreement at any time or times be deemed a waiver or relinquishment
of such right or power at any other time or times.

 

(e)
Governing Law; Jurisdiction. This Agreement shall be governed by, construed and enforced in accordance with the
Laws of the State of Delaware without regard to the conflict of laws principles thereof. All Actions arising out of or relating
to this Agreement shall be heard and determined exclusively in any state or federal court located in the State of Delaware (or
in any appellate courts thereof) (the “Specified Courts”). Each party hereto hereby (a) submits to the
exclusive jurisdiction of any Specified Court for the purpose of any Action arising out of or relating to this Agreement brought
by any party hereto, (b) irrevocably waives, and agrees not to assert by way of motion, defense or otherwise, in any such Action,
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 Action is brought in an inconvenient forum, that the venue of the Action is improper, or
that this Agreement or the transactions contemplated hereby may not be enforced in or by any Specified Court and (c) waives any
bond, surety or other security that might be required of any other party with respect thereto. Each party agrees that a final
judgment in any Action shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other
manner provided by Law or in equity. Each party irrevocably consents to the service of the summons and complaint and any other
process in any other action or proceeding relating to the transactions contemplated by this Agreement, on behalf of itself, or
its property, by personal delivery of copies of such process to such party at the applicable address set forth in Section 7(a).
Nothing in this Section 7(e) shall affect the right of any party to serve legal process in any other manner permitted by
Law.

 

    	 	7	 

     

    

 

(f)
WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT
IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS
AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HAS
REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SEEK TO ENFORCE THAT FOREGOING
WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 7(f).
ANY PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 7(f)
WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF EACH SUCH PARTY TO THE
WAIVER OF ITS RIGHT TO TRIAL BY JURY.

 

(g)
Successors and Assigns; Third Party Beneficiaries. This Agreement will be binding upon the Sellers and their respective
estates, heirs, successors and assigns, and will inure to the benefit of the Covered Parties, and their respective successors
and assigns. Each Covered Party may freely assign any or all of its rights under this Agreement, at any time, in whole or in part,
to any Person which acquires, in one or more transactions, at least a majority of the equity securities (whether by equity sale,
merger or otherwise) of such Covered Party or all or substantially all of the assets of such Covered Party and its Subsidiaries,
taken as a whole, without obtaining the consent or approval of any Seller. Each Seller agrees that the obligations of such Seller
under this Agreement are personal and will not be assigned by such Seller. Each of the Covered Parties are express third party
beneficiaries of this Agreement and will be considered parties under and for purposes of this Agreement.

 

(h)
Parent Representative Authorized to Act on Behalf of Covered Parties. The parties acknowledge and agree that the Parent
Representative is authorized and shall have the sole right to act on behalf of Parent and the other Covered Parties under this
Agreement, including the right to enforce Parent’s rights and remedies under this Agreement. Without limiting the foregoing,
in the event that a Seller serves as a director, officer, employee or other authorized agent of a Covered Party, such Seller shall
have no authority, express or implied, to act or make any determination on behalf of a Covered Party in connection with this Agreement
or any dispute or Action with respect hereto.

 

(i)
Construction. Each Seller acknowledges that such Seller has been represented by counsel, or had the opportunity to be represented
by counsel of its choice. Any rule of construction to the effect that ambiguities are to be resolved against the drafting party
will not be applied in the construction or interpretation of this Agreement. Neither the drafting history nor the negotiating
history of this Agreement will be used or referred to in connection with the construction or interpretation of this Agreement.
The headings and subheadings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning
or interpretation of this Agreement. In this Agreement: (i) the words “include,” “includes” and “including”
when used herein shall be deemed in each case to be followed by the words “without limitation”; (ii) the definitions
contained herein are applicable to the singular as well as the plural forms of such terms; (iii) whenever required by the context,
any pronoun shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and
verbs shall include the plural and vice versa; (iv) the words “herein,” “hereto,” and “hereby”
and other words of similar import shall be deemed in each case to refer to this Agreement as a whole and not to any particular
Section or other subdivision of this Agreement; (v) the word “if” and other words of similar import when used herein
shall be deemed in each case to be followed by the phrase “and only if”; (vi) the term “or” means “and/or”;
and (vii) any agreement or instrument defined or referred to herein or in any agreement or instrument that is referred to herein
means such agreement or instrument as from time to time amended, modified or supplemented, including by waiver or consent and
references to all attachments thereto and instruments incorporated therein. Notwithstanding anything to the contrary contained
herein, for purposes of this Agreement, Parent and its Subsidiaries will not be deemed to be Affiliates of any Seller (or any
Affiliate of any Seller other than Parent and its Subsidiaries), and visa versa.

 

(j)
Counterparts. This Agreement may be executed in one or more counterparts, and by the different parties hereto in separate
counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one
and the same agreement. A photocopy, faxed, scanned and/or emailed copy of this Agreement or any signature page to this Agreement,
shall have the same validity and enforceability as an originally signed copy.

 

(k)
Effectiveness. This Agreement shall be binding upon each Seller upon such Seller’s execution and delivery of this
Agreement, but this Agreement shall only become effective upon the consummation of the Transactions. In the event that the Merger
Agreement is validly terminated in accordance with its terms prior to the consummation of the Transactions, this Agreement shall
automatically terminate and become null and void, and the parties shall have no obligations hereunder.

 

[Remainder
of Page Intentionally Left Blank; Signature Page Follows]

 

    	 	8	 

     

    

 

IN
WITNESS WHEREOF, the undersigned has duly executed and delivered this Non-Competition and Non-Solicitation Agreement as of the
date first written above.

 

	 
	The
    Sellers:
	 	 	 
	 	INNOHOLD,
    LLC
	 	 	 
	 	By:	/s/
    Terry V. Pearce
	 	Name:
    Terry V. Pearce
	 	Title:
    Manager
	 	 	 
	 	/s/
    Terry Pearce
	 	Terry
    Pearce
	 	 	 
	 	/s/
    Tony Pearce
	 	Tony
    Pearce

 

	Acknowledged
    and accepted as of the date first written above:
	 	 
	Parent:
    	 
	 	 	 
	Global
    Partner Acquisition Corp.	 
	 	 
	By:
    	/s/
    Paul Zepf 	 
	Name:	Paul
    Zepf	 
	Title:	Chief
    Executive Officer	 
	 	 	 
	The
    Company:	 
	 	 
	PURPLE
    INNOVATION, LLC	 
	 	 
	By:
    	/s/
    Samuel D. Bernards 	 
	Name:	Samuel
    D. Bernards	 
	Title:
    	Chief
    Executive Officer	 
	 	 	 
	The
    Parent Representative:	 
	 	 	 
	GLOBAL
                                         PARTNER SPONSOR I LLC,

solely
in its capacity under the Merger

Agreement
as the Parent Representative

	 
	 	 
	By:
    	/s/
    Paul Zepf 	 
	Name:	Paul
    Zepf	 
	Title:	Manager	 

 

[Signature
Page to Non-Competition and Non-Solicitation Agreement]

 

9

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