Document:

Exhibit 10.3

 

OMNIBUS TERMINATION

OF

COMMON STOCK PURCHASE WARRANTS

 

THIS OMNIBUS TERMINATION
OF COMMON STOCK PURCHASE WARRANTS (this “Termination”) is made and entered into as of July 17, 2020, by and
between CCUR Holdings, Inc., a Delaware corporation (the “Company”), Kamil Blaszczak (“Blaszczak”),
Oskar Kowalski (“Kowalski”) and Avraham Zeines (“Zeines” and, collectively with Blaszczak
and Kowalski, the “Holders”).

 

WHEREAS, in
connection with the purchase by LM Capital Solutions, LLC, a wholly owned subsidiary of the Company, of substantially all of the
assets of AZOKKB, LLC (formerly known as Luxemark Capital LLC), the Company issued the following common stock purchase warrants
to the Holders: (a) that certain Common Stock Purchase Warrant dated as of February 13, 2019 by the Company for the benefit of
Blaszczak, (b) that certain Common Stock Purchase Warrant dated as of February 13, 2019 by the Company for the benefit of Kowalski,
and (c) that certain Common Stock Purchase Warrant dated as of February 13, 2019 by the Company for the benefit of Zeines ((a),
(b), and (c), collectively, the “Warrants”).

 

WHEREAS, in
connection with the transactions contemplated by that certain Assignment and Assumption Agreement dated as of even date herewith
by and between LM Capital Solutions, LLC and AZOKKB, LLC (the “A&A Agreement”), the Company and the Holders
desire, as a condition to entering into the A&A Agreement and consummating the transactions contemplated thereby, to terminate
the Warrants and all rights and obligations related thereto arising therefrom.

 

NOW, THEREFORE, in consideration
of the foregoing premises and other good and valuable consideration, including without limitation the entry into and the consummation
of the transactions contemplated by the A&A Agreement, the receipt and sufficiency of which are hereby conclusively acknowledged,
the Company and each of the Holders hereby agree as follows:

 

		1.	The Company and each of the Holders, as the
 “Requisite Holders” under the Warrants and in their individually capacities with respect to their respective Warrants,
agree and acknowledge that as of the date hereof, each of the Warrants are hereby terminated in full and rendered null
and void, and all past, current, or future obligations of the Company under the Warrants shall be extinguished. The
Holders will return the originals of the Warrants for cancellation by the Company as of the date hereof. Each of the Holders acknowledges
and agrees that as of the date hereof, he shall have no surviving right, title or interest in or to the Warrant, any shares purchasable
thereunder or any other option, warrant, right or interest to acquire any equity of the Company.

 

		2.	Each of the Holders represents and warrants that (a) he
has not exercised or purported to exercise the Warrant for his benefit in whole or in part to purchase any shares of the Company’s
common stock, (b) he is the sole owner and holder of the Warrant for his benefit, and has not assigned, transferred, sold,
pledged, conveyed or otherwise disposed of (or attempted any of the foregoing with respect to) such Warrant or any shares purchasable
thereunder and (c) has the power and authority to execute and deliver this Termination.

 

		3.	This Termination constitutes the entire agreements between the Company and the Holders with respect
to the transactions, rights, obligations, liabilities and agreements contemplated thereby.

 

		4.	The validity, performance, construction and effect of this Termination shall be governed by and
construed in accordance with the internal laws of the State of Delaware, without regard to principles of conflicts of law.

 

		5.	This Termination may be executed in one or more counterparts, all of which shall be considered
one and the same agreement, and shall be effective when one or more such counterparts have been signed by each of the parties hereto
and delivered to the other parties.

 

[Signature Pages Follow]

 

 

     

     

    

 

IN WITNESS WHEREOF, the undersigned have
duly executed this Termination as of the date first written above.

 

 

COMPANY

 

CCUR
HOLDINGS, INC.

 

 

By:
/s/ Igor Volshteyn

Name:
Igor Volshteyn

Title:
COO/President

 

 

HOLDERS

 

 

/s/
Avraham Zeines

AVRAHAM
ZEINES

 

 

/s/
Kamil Blaszczak

KAMIL
BLASZCZAK

 

 

/s/
Oskar Kowalski

OSKAR
KOWALSKIExhibit 10.4

 

ASSIGNMENT AND ASSUMPTION AGREEMENT

 

This
Assignment and Assumption Agreement (this “Agreement”) is made and entered into as of July 17, 2020 (“Effective
Date”), by and between LM CAPITAL SOLUTIONS, LLC, a New York limited
liability company (“Assignor”), and AZOKKB,
LLC (formerly known as Luxemark Capital LLC), a New York limited liability company (“Assignee”).

 

Recitals

 

A.       Assignor
is a party to commercial agreements as set forth on Exhibit A attached hereto (together with any amendments, modifications
or restatements thereto or thereof, the “Portfolio Documents”) representing rights, covenants, agreements, liabilities
and obligations (the “Obligations”) of the counterparties
to the Portfolio Documents (such Persons (as defined below), the “Funders”) and Assignor with respect
to one another.

 

B.       Assignee
is purchasing from Assignor all of Assignor’s right, title and interest in the Portfolio Documents, including the Portfolio
Documents themselves (collectively, the “Assigned Rights”), in consideration for the Final Purchase Price (as
defined below) and the assumption of all of Assignor’s liabilities and obligations under the Portfolio Documents other than
liabilities under the KCG Agreement (the “Assumed Liabilities”); provided, that, notwithstanding anything herein
to the contrary, Assignee is purchasing only the right to receive participation payments under the KCG Agreement and is not assuming
any liabilities thereunder; provided, further, that, notwithstanding anything herein to the contrary, the right to receive participation
payments under the KCG Agreement shall be the only right under the KCG Agreement included in the Assigned Rights.

 

C.       Concurrently
with the execution and delivery of this Agreement, (i) Assignor, Assignee and CCUR Holdings, Inc., a Delaware corporation (“CCUR”),
are entering into that certain Consent and Amendment to Assignor’s Amended and Restated Operating Agreement, (ii) Assignor
and CCUR are entering into that certain Amendment and Waiver to Master Promissory Note by and between Assignor and CCUR, (iii)
Assignor, CCUR, Avraham Zeines (“Zeines”), Oskar Kowalski (“Kowalski”) and Kamil Blaszczak
(“Blaszczak”) are entering into that certain Waiver and Amendment to Asset Purchase Agreement, (iv) CCUR, Zeines,
Kowalski and Blaszczak are entering into that certain Omnibus Common Stock Purchase Warrant Termination, and (v) Assignor and Newco
Capital Group, LLC are entering into that certain Engagement Agreement (such documents referenced in (i), (ii), (iii), (iv) and
(v), collectively, the “Ancillary Documents”).

 

Agreement

 

NOW, THEREFORE, in
consideration of the foregoing, the covenants and agreements contained herein and in the Ancillary Documents and other valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound, mutually
agree as follows:

 

1.       Effective
as of the Effective Date, in consideration of the payment by Assignee to Assignor of the Final Purchase Price (as defined below)
and the assumption by the Assignee of the Assumed Liabilities, Assignor hereby sells and assigns to Assignee, and Assignee hereby
purchases and assumes from Assignor, the Assigned Rights, including without limitation all (i) claims (including “claims”
as defined in the United Stated Bankruptcy Code section 101(5)), suits, causes of action and any other rights of Assignor, whether
known or unknown, against the Funders or otherwise under the Portfolio Documents; and (ii) amounts owed or payable to Assignor
under or in connection with the Portfolio Documents, in each case, without representation, warranty or recourse (except as set
forth in Section 2 below). In addition to the foregoing, Assignee shall pay all transfer taxes and any applicable documentary
taxes required to be paid by either Assignor or Assignee in connection with the transactions contemplated by this Agreement.

 

     

     

    

 

2.       (a)
At the closing of the transactions contemplated hereby, which shall take place via the remote exchange of electronic signature
pages (the “Closing”), (i) the Assignee shall pay to the Assignor the Initial Purchase Price (as defined below)
via wire transfer of immediately available funds to an account designated by the Assignor on or prior to the Effective Date and
(ii) the parties to the Ancillary Documents shall deliver the signature pages thereto and the transactions contemplated thereby
shall be effective. The “Purchase Price” shall mean an aggregate amount equal to the average RTR/TCP balances
with respect to each Funder (1) as of the close of business in the United States on July 16, 2020 with respect to the KCG
Agreement and (2) as of the close of business in Australia on July 17, 2020 with respect to the BizCap Agreements, in each
case calculated consistent with the example calculation set forth as Exhibit B hereto and in a manner consistent with
past practice, and shall mean an amount equal to One Million One Hundred Fifty Four Thousand Eighty Dollars and Thirty Two Cents
($1,154,080.32).

 

(b) Following the Closing,
Assignor shall accept any funds paid to it by the Funders with respect to Obligations that have been assigned to the Assignee hereunder.
In the event that Assignor receives any such payment after the Effective Date other than with respect to Effective Date Cash (as
defined below), Assignor shall promptly turn over the same to the Assignee. Assignor shall be entitled to keep for its own account
any payments it receives after the Effective Date with respect to Effective Date Cash.

 

(c) Following the Closing,
in the event that Assignee receives any payment after the Effective Date with respect to Effective Date Cash, Assignee shall promptly
turn over the same to Assignor. “Effective Date Cash” means amounts held by Funders in cash as of the Effective
Date pursuant to the Portfolio Documents (as opposed to amounts that, as of the Effective Date, have been deployed by Funders in
connection with merchant cash advance activity) including without limitation or duplication amounts set forth in Exhibit C
hereto.

 

3.       Assignor
hereby represents and warrants to and for the benefit of Assignee that (i)
it has the full power and authority to execute, deliver and perform all of the terms of this Agreement; (ii) this Agreement constitutes
the legal, valid and binding obligation of Assignor, enforceable in accordance with its terms; (iii) the execution and delivery
of this Agreement and the performance by Assignor of its obligations hereunder will not violate or contravene any law, rule, regulation,
judgment, order, decree, writ or injunction to which Assignor is subject; (iv) it has full right, title and interest, as
lender, in and to the Portfolio Documents and the Obligations thereunder; (v) it has not sold, assigned, transferred or otherwise
conveyed all or any part of its interest therein and (vi) no broker or
other party entitled to a commission is involved in connection with this transaction. Assignor acknowledges and agrees that
Assignee would not be entering into this Agreement without the concurrent execution and delivery of the Ancillary Documents and
that the entry into Ancillary Documents by the other parties thereto constitute a material inducement to Assignee to enter into
this Agreement.

 

4.       Assignee
hereby represents and warrants to and for the benefit of Assignor that (i) it has the full power and authority to execute, deliver
and perform all of the terms of this Agreement; (ii) this Agreement constitutes the legal, valid and binding obligation of the
Assignee, enforceable in accordance with its terms; (iii) the execution and delivery of this Agreement and the performance by Assignee
of its obligations hereunder will not violate or contravene any law, rule, regulation, judgment, order, decree, writ, or injunction
to which Assignee is subject; and (iv) no broker or other party entitled to a commission is involved in connection with this transaction.
Assignee acknowledges and agrees that Assignor would not be entering into this Agreement without the concurrent execution
and delivery of the Ancillary Documents and that the entry into Ancillary Documents by the other parties thereto constitute a material
inducement to Assignee to enter into this Agreement.

 

     

     

    

 

5.       Each
party further represents and warrants to and for the benefit of the other party that, assuming the accuracy of the representations
and warranties made by the other party below:

 

(i)       none
of such party, or any of its officers, directors, or controlling persons is a Person that is, or is owned or controlled by Persons
that are, in violation of any Anti-Terrorism Laws;

 

(ii)        none
of such party, or any of its officers, directors, or controlling persons is a Person that is, or is owned or controlled by Persons
that are: (A) the subject of any Sanctions, or (B) organized or resident in a country or territory that is, or whose government
is, the subject of Sanctions; and

 

(iii)       it
is materially in compliance with the U.S. Foreign Corrupt Practices Act, as amended (15 U.S.C. Section 78dd-1, et seq.), and any
applicable laws or regulations relating thereto.

 

For purposes of this Agreement:

 

“Person”
means an individual, corporation, partnership, joint venture, limited liability company, Governmental Authority, unincorporated
organization, trust, association or other entity;

 

“Anti-Terrorism
Law” means any requirement of law, regulation or rule related to the prohibition and prevention of money laundering or
financing terrorism, including the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct
Terrorism Act of 2001 (also known as the “USA PATRIOT Act,” Title III of Pub. L. 107-56), The Currency and Foreign
Transactions Reporting Act, as amended (also known as the “Bank Secrecy Act”, 31 U.S.C. §§ 5311-5314, 5315-5332
and 12 U.S.C. §§ 1829b and 1951-1959), the Trading With the Enemy Act, as amended (50 U.S.C. § 1 et seq.), and Executive
Order 13224 (effective September 24, 2001); and

 

“Sanctions”
means, sanctions administered or enforced by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC),
U.S. Department of State, or other relevant sanctions authority.

 

6.       Except
as expressly set forth in Sections 2 and 5 above, Assignor makes no representation or warranty, express or implied,
at law or in equity, with respect to the Portfolio
Documents or the Obligations, including, without limitation, enforceability, liability or collectability. Assignee acknowledges
and agrees that, other than payments due pursuant to 2(b), it will look solely to Funders for the payment of the Obligations represented
by the Portfolio Documents. Assignee has entered into this Agreement solely upon its own independent investigation and credit analysis
and is not relying upon any information supplied by or any representations made by Assignor, except as set forth in Section 2.
Assignee hereby acknowledges and agrees that, except as expressly set forth in this Agreement, Assignee is purchasing the Portfolio
Documents and the Obligations thereunder on an “as-is, where-is” basis, and without recourse. Assignee has had the
opportunity to engage legal counsel and has performed such due diligence which it deems necessary and appropriate in connection
with the assignment contemplated hereunder. Assignee represents to Assignor that it understands that enforcement of the Portfolio
Documents in respect of the Obligations may not result in collection of all or any of the sums due thereunder. Assignee assumes
all risks, including risk of loss, counterclaims, defenses and delays, and the cost of enforcement of claims with respect to the
Portfolio Documents and the Obligations, and understands that the nature of the enforcement thereof may be adversarial, and subject
to actual or potential claims and defenses of the Funders or other third parties.

 

7.       Assignee
acknowledges and agrees that the Portfolio Documents shall not include any correspondence, memoranda, credit analysis, term sheets,
proposals, compliance certificates, accounts receivable or inventory reports, or marketing plans of Assignor or other writings
of a similar nature relating to the administration of the Obligations and the Portfolio Documents. Assignee waives any right or
claim that it may have by virtue of this Agreement to review any documentation that Assignor or its counsel may have other than
the Portfolio Documents.

 

     

     

    

 

8.       Each
of Assignor and Assignee agrees that except (i) as may be necessary to implement and enforce the terms of this Agreement, (ii)
as may be required by law, legal process, by an order, judgment or decree of a court of other governmental authority of competent
jurisdiction, (iii) disclosures to its own employees, professionals or representatives, or (iv) to comply with or meet regulatory
or operational requirements, it shall not disclose to any Person the existence of, or terms and conditions of, this Agreement or
any document executed or delivered in connection herewith. After the Effective Date, to the extent not previously disclosed in
connection with the solicitation of any consent required under the Portfolio Documents by any Funder in connection with the transactions
contemplated by this Agreement, each of Assignor and Assignee may disclose to the Funders the existence of this Agreement but not
the Purchase Price.

 

9.       Assignee,
for itself and its successors and assigns, hereby accepts the assignment of, and assumes the obligations arising under, the Assumed
Liabilities and the Portfolio Documents in accordance with their terms, and the Assignee shall, as of the Effective Date, assume
and thereafter honor and fully perform the obligations and liabilities of Assignor arising under the Portfolio Documents, including
with respect to the Assumed Liabilities, after the Effective Date.

 

10.       Reserved.

 

11.       Assignee
agrees to submit all Internal Revenue Service Forms and Information Returns and other required or appropriate filings, if and when
applicable, with all state, federal and local governing bodies with respect to the Obligations relating to the period during which
it owns the Portfolio Documents and Obligations.

 

12.       Assignee
acknowledges that it may acquire confidential information from Assignor that may include “nonpublic personal information”
as that term is defined in 15 U.S.C. 6809 concerning customers and agrees that it will not use or disclose any such confidential
information except for the purposes contemplated by this Agreement. Assignee shall maintain policies and procedures designed to:
(1) ensure the security and confidentiality of confidential information; (2) protect against any anticipated threats or hazards
to the security or integrity of confidential information; and (3) protect against unauthorized access to or use of confidential
information that could result in substantial harm or inconvenience to any present or former customer of Assignor.

 

13.       The
parties agree to do, execute, acknowledge and deliver, or cause to be done, executed, acknowledged and delivered all further acts,
assignments, documents, instruments, transfers and assurances as may reasonably be requested of them in order to carry out and
give effect to this Agreement. Except as otherwise expressly provided in this Agreement, Assignee and Assignor shall each bear
its own respective costs and expenses, including attorneys’ fees, in connection with this Agreement and the transactions
contemplated herein

 

14.       This
Agreement will in all respects be governed by and construed in accordance with the laws of the State of New York. Assignor and
Assignee hereby submit to the exclusive jurisdiction of any state or federal courts located in New York County, New York with respect
to any matters relating to this Agreement.

 

15.       This
Agreement constitutes the entire agreement of the parties and supersedes all other prior agreements and understandings,
both written and oral, between the parties with respect to the subject
matter hereof. This Agreement may only be amended in a writing signed by the parties hereto. The declaration of invalidity
of any provision of this Agreement shall not affect any part of the remainder of the provisions.

 

     

     

    

 

16.       This
Agreement will be binding upon and inure to the benefit of Assignor and the Assignee and their respective successors and assigns.
The parties relationship is that of buyer and seller; the parties are not partners or joint venturers and neither party has any
authority to represent, obligate or bind the other with respect to any third party.

 

17.       This
Agreement may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when
executed and delivered, shall be deemed to be an original, and all of which, when taken together, shall constitute but one and
the same Agreement. Delivery of an executed counterpart of this Agreement by facsimile shall be equally as effective as delivery
of an original executed counterpart of this Agreement.

 

18.       ASSIGNEE
AND ASSIGNOR HEREBY WAIVE THE RIGHT TO A TRIAL BY JURY OF ANY MATTERS ARISING OUT OF THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY.

 

 

 

[Signature page to follow]

 

 

     

     

    

IN WITNESS WHEREOF,
the parties hereto have executed this Agreement as of the date first written above.

 

ASSIGNOR:

 

LM
CAPITAL SOLUTIONS, LLC

 

 

By: /s/
Igor Volshteyn

Print Name:
Igor Volshteyn

Title: President

 

Assignor’s Address for Notice:

 

LM Capital Solutions, LLC

c/o CCUR Holdings, Inc.

6470 East Johns Crossing, Suite 490

Duluth, GA 30097

Attention: Heather Asher

 

Telephone Number: 770.305.6796

Email:heather.asher@ccurholdings.com

 

With copy to:

 

Moore & Van Allen PLLC

100 N. Tryon Street, Suite 4700

Charlotte, NC 28202

Attention: Mike Miller

 

Telephone Number: 704.331.1057

Email:michaelmiller@mvalaw.com

 

 

     

     

    

IN WITNESS WHEREOF,
the parties hereto have executed this Agreement as of the date first written above.

 

 

ASSIGNEE:

 

AZOKKB, LLC

 

 

By: /s/ Avraham Zeines

Name: Avraham Zeines

Title: Member

 

Assignee’s Address for Notice:

 

55 Broad St., 9th Floor

New York, NY 10004

Phone: 718-755-9286

Email: abe@abezeines.com

 

With copy to:

 

Joseph R. Waala, Esq.

Relativity Law Group

2124 N. 2nd St.

Philadelphia, PA 19122

Phone:    585-993-2507

Fax:    800-507-8187

Email: JRWaala@WaalaLaw.com

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