Document:

Exhibit 10.8

 

HORIZON ACQUISITION CORPORATION

600 Steamboat Road, Suite 200 

Greenwich, CT 06830

 

[●], 2020

 

Horizon Sponsor, LLC 

600 Steamboat Road, Suite 200 

Greenwich, CT 06830

 

Re:  Administrative Support
Agreement

 

Ladies and Gentlemen:

 

This letter agreement by and between
Horizon Acquisition Corporation (the “Company”) and Horizon Sponsor, LLC (“Sponsor”), dated as of the
date hereof, will confirm our agreement that, commencing on the date the securities of the Company are first listed on the
New York Stock Exchange (the “Listing Date”), pursuant to a Registration Statement on Form S-1 and
prospectus filed by the Company with the Securities and Exchange Commission (the “Registration Statement”) and
continuing until the earlier of the consummation by the Company of an initial business combination and the Company’s
liquidation (in each case as described in the Registration Statement) (such earlier date hereinafter referred to as the
“Termination Date”):

 

		i.	Sponsor shall make available, or cause to be made available, to the Company, at 600 Steamboat Road, Suite 200 Greenwich,
CT 06830 (or any successor location of Sponsor), certain office space, utilities and secretarial and administrative support as
may be reasonably required by the Company. In exchange therefor, the Company shall pay Sponsor the sum of $10,000 per month on
the Listing Date and continuing monthly thereafter until the Termination Date; and

 

		ii.	Sponsor hereby irrevocably waives any and all right, title, interest, causes of action and claims of any kind as a result of,
or arising out of, this letter agreement (each, a “Claim”) in or to, and any and all right to seek payment of any amounts
due to it out of, the trust account established for the benefit of the public stockholders of the Company and into which substantially
all of the proceeds of the Company’s initial public offering will be deposited (the “Trust Account”), and hereby
irrevocably waives any Claim it may have in the future, which Claim would reduce, encumber or otherwise adversely affect the Trust
Account or any monies or other assets in the Trust Account, and further agrees not to seek recourse, reimbursement, payment or
satisfaction of any Claim against the Trust Account or any monies or other assets in the Trust Account for any reason whatsoever.

 

This letter agreement constitutes the entire
agreement and understanding of the parties hereto in respect of its subject matter and supersedes all prior understandings, agreements,
or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter
hereof or the transactions contemplated hereby.

 

     

     

    

 

This letter agreement may not be amended,
modified or waived as to any particular provision, except by a written instrument executed by the parties hereto.

 

No party hereto may assign either this letter
agreement or any of its rights, interests, or obligations hereunder without the prior written approval of the other party. Any
purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any
interest or title to the purported assignee.

 

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

 

This letter agreement may be executed in
two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same
instrument.

 

[Signature Page Follows]

 

    2

     

    

 

	 	Very truly yours,
	 	 
	 	HORIZON ACQUISITION CORPORATION

 

	 	By:	 
	 	 	Name:  Todd Boehly
	 	 	Title:    Chairman, Chief Executive Officer and Chief Financial Officer

 

	AGREED TO AND ACCEPTED BY:	 
	 	 
	HORIZON SPONSOR, LLC	 

 

	By: 	 	 
	 	Name: Todd Boehly 	 
	 	Title: Chief Executive OfficerExhibit

 

EXHIBIT 10.6

FIRST AMENDMENT TO EXECUTIVE SERVICES AGREEMENT

This First Amendment (the “First Amendment”) to the Executive Services Agreement between Babcock & Wilcox Enterprises, Inc. (the “Company”) and BRPI Executive Consulting, LLC (“BRPI”) dated November 19th, 2018 is made and entered into this 22nd day of April 2020 (the “Effective Date”).  

WHEREAS, the Company and BRPI desire to change the payment terms of Section 3 of the Executive Services Agreement, on the terms and conditions specified in this First Amendment.

NOW, THEREFORE, in consideration of the foregoing, Section 3.1 of the Executive Services Agreement is hereby amended and restated in its entirety as follows:

“3.1    As full compensation for the Services rendered by BRPI pursuant to this Agreement, the Company shall pay BRPI a fee in the annual amount of $750,000, paid monthly in advance by the fifth day of each calendar month, and such other compensation as the parties determine to be reasonable and appropriate. Notwithstanding the forgoing, from June 1, 2020 through November 30, 2020, BRPI agrees that fifty percent (50%) of the amount payable each month pursuant to this Section 3.1 shall be deferred and shall be payable by the Company on the fifth calendar day of March 2021.” 

Except as set forth above, nothing in this First Amendment shall be deemed to alter, amend, or modify any other provisions of the Executive Services Agreement.

IN WITNESS WHEREOF, the parties hereto have agreed to and have executed this First Amendment on the Effective Date.

	
		
	 
	BRPI EXECUTIVE CONSULTING, LLC:

	 
	 

	By:
	/s/ Kenneth M. Young

	Name:
	Kenneth M. Young

	Title:
	Chief Executive Officer

	
		
	 
	BABCOCK & WILCOX ENTERPRISES, INC.

	 
	 

	By:
	/s/ John Dziewisz

	Name:
	John Dziewisz

	Title:
	Senior Vice President and SecretaryExhibit

EXHIBIT 10.7

SECOND AMENDMENT TO EXECUTIVE EMPLOYMENT AGREEMENT

This Second Amendment (the ”Second Amendment”) to the Executive Employment Agreement between Babcock & Wilcox Enterprises, Inc. (the “Company”) and Henry Bartoli (the “Executive”) dated November 19th, 2018 is made and entered into this 22nd day of April, 2020 (the Effective Date”).  

RECITALS

WHEREAS, the Company and Executive desire to change the payment terms of the Executive’s Annual Salary provided in Section 6a of the Executive Employment Agreement, on the terms and conditions specified in this Second Amendment; and

WHEREAS, the Company and Executive desire to set forth in writing their understandings and agreement with respect to such matter.

AGREEMENT

NOW, THEREFORE, in consideration of the foregoing, the Company’s payment of the Executive’s Annual Salary, the mutual promises hereinafter set forth, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto, intended to be legally bound, agree to the following revisions to the Executive Employment Agreement:

(6) COMPENSATION – At the end of (a) Annual Salary, insert the following: “notwithstanding the forgoing, from June 1 through November 18, 2020 fifty percent (50%) of the Executive’s Annual Salary shall be deferred and shall be paid in a lump sum in the last regular paycheck in November 2020.”

Except as set forth above, nothing in this Second Amendment shall be deemed to alter, amend, or modify any other provisions of the Executive Employment Agreement.

IN WITNESS WHEREOF, the parties hereto have agreed to and have executed this Second Amendment on the Effective Date.
                        	
	
	EXECUTIVE:

	 

	/s/ Henry Bartoli

	Henry Bartoli

                        
	
		
	 
	BABCOCK & WILCOX ENTERPRISES, INC.

	 
	 

	By:
	/s/ Kenneth M. Young

	Name:
	Kenneth M. Young

	Title:
	Chief Executive OfficerExhibit

EXHIBIT 10.8

FIRST AMENDMENT TO EXECUTIVE EMPLOYMENT AGREEMENT

This First Amendment (the ”First Amendment”) to the Executive Employment Agreement between Babcock & Wilcox Enterprises, Inc. (the “Company”) and Louis Salamone (the “Executive”) dated November 19th, 2018 is made and entered into this 22nd day of April, 2020 (the Effective Date”).  

RECITALS

WHEREAS, the Company and Executive desire to change the payment terms of the Executive’s Annual Salary provided in Section 6a of the Executive Employment Agreement, on the terms and conditions specified in this First Amendment; and

WHEREAS, the Company and Executive desire to set forth in writing their understandings and agreement with respect to such matter.

AGREEMENT

NOW, THEREFORE, in consideration of the foregoing, the Company’s payment of the Executive’s Annual Salary, the mutual promises hereinafter set forth, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto, intended to be legally bound, agree to the following revisions to the Executive Employment Agreement:

(6) COMPENSATION – At the end of (a) Annual Salary, insert the following: “notwithstanding the forgoing from June 1 through November 18, 2020 thirty percent (30%) of the Executive’s Annual Salary shall be deferred and shall be paid in a lump sum in the last regular paycheck in November 2020. This Agreement intends to qualify for the short-term deferral exemption under IRS Code Section 409A.  As a result, no payment hereunder will be made later than 2 1⁄2 months after the end of the calendar year in which such deferral occurs.” 

Except as set forth above, nothing in this First Amendment shall be deemed to alter, amend, or modify any other provisions of the Executive Employment Agreement.

IN WITNESS WHEREOF, the parties hereto have agreed to and have executed this First Amendment on the Effective Date.                
	
	
	EXECUTIVE:

	 

	/s/ Louis Salamone

	Louis Salamone

                        
	
		
	 
	BABCOCK & WILCOX ENTERPRISES, INC.

	 
	 

	By:
	/s/ Kenneth M. Young

	Name:
	Kenneth M. Young

	Title:
	Chief Executive Officer

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