Document:

Exhibit 10.1

 

INVESTMENT MANAGEMENT TRUST AGREEMENT

 

This Investment Management Trust Agreement
(this “Agreement”) is made effective as of September 14, 2021 by and between Endurance Acquisition Corp., a
Cayman Islands exempted company (the “Company”), and Continental Stock Transfer & Trust Company, a New York
corporation (the “Trustee”).

 

WHEREAS, the Company’s registration statement
on Form S-1 (File No. 333-259098) (the “Registration Statement”), including the prospectus therein (the “Prospectus”),
for the initial public offering of the Company’s units (the “Units”), each of which consists of one Class A ordinary
share, par value $0.0001 per share (the “Ordinary Share”), and one-half of one redeemable warrant, each whole warrant
entitling the holder thereof to purchase one Ordinary Share (such initial public offering hereinafter referred to as the “Offering”),
has been declared effective as of the date hereof by the U.S. Securities and Exchange Commission; and

 

WHEREAS, the Company has entered into an Underwriting
Agreement (the “Underwriting Agreement”) with Cantor Fitzgerald & Co. and Truist Securities, Inc., as underwriters
(the “Underwriters”); and

 

WHEREAS, as described in the Prospectus, $201,000,000
of the gross proceeds of the Offering and sale of the Private Placement Warrants (as defined in the Underwriting Agreement) (or $231,150,000
if the Underwriters’ over-allotment option is exercised in full) will be delivered to the Trustee to be deposited and held in a
segregated trust account located at all times in the United States (the “Trust Account”) for the benefit of the Company
and the holders of the Ordinary Shares included in the Units issued in the Offering as hereinafter provided (the amount to be delivered
to the Trustee (and any interest subsequently earned thereon) is referred to herein as the “Property,” the shareholders
for whose benefit the Trustee shall hold the Property are referred to herein as the “Public Shareholders,” and the
Public Shareholders and the Company are referred to herein, collectively, as the “Beneficiaries”); and

 

WHEREAS, pursuant to the Underwriting Agreement,
a portion of the Property equal to $9,000,000, or $10,350,000 if the Underwriters’ over-allotment option is exercised in full, is
attributable to deferred underwriting discounts and commissions that will be payable by the Company to the Underwriters upon and concurrently
with the consummation of the Business Combination (as defined below) (the “Deferred Discount”); and

 

WHEREAS, the Company and the Trustee desire to enter
into this Agreement to set forth the terms and conditions pursuant to which the Trustee shall hold the Property.

 

NOW THEREFORE, IT IS AGREED:

 

 1.            Agreements
and Covenants of Trustee. The Trustee hereby agrees and covenants to:

 

(a)       Hold
the Property in trust for the Beneficiaries in accordance with the terms of this Agreement in the Trust Account established by the
Trustee located in the United States at J.P. Morgan Chase Bank, N.A. (or at another U.S.-chartered commercial bank with consolidated
assets of $100 billion or more) and at a brokerage institution selected by the Trustee that is reasonably satisfactory to the
Company;

 

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(b)              
Manage, supervise and administer the Trust Account subject to the terms and conditions set forth herein;

 

(c)              
In a timely manner, upon the written instruction of the Company, invest and reinvest the Property solely in United States government securities
within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended (or any successor rule), having a maturity of
185 days or less, or in money market funds meeting the conditions of paragraphs (d)(1), (d)(2), (d)(3) and (d)(4) of Rule 2a-7 promulgated
under the Investment Company Act of 1940, as amended, which invest only in direct U.S. government treasury obligations, as determined
by the Company; the Trustee may not invest in any other securities or assets, it being understood that the Trust Account will earn no
interest while account funds are uninvested awaiting the Company’s instructions hereunder; while funds are invested or uninvested,
the Trustee may earn bank credits or other consideration;

 

(d)              
Collect and receive, when due, all interest or other income arising from the Property, which shall become part of the “Property,”
as such term is used herein;

 

(e)              
As soon as practicable, notify the Company and the Underwriters of all communications received by the Trustee with respect to any Property
requiring action by the Company;

 

(f)               
Supply any necessary information or documents as may be requested by the Company (or its authorized agents) in connection with the Company’s
preparation of tax returns relating to assets held in the Trust Account or in connection with the preparation or completion of the audit
of the Company’s financial statements by the Company’s auditors;

 

(g)              
Participate in any plan or proceeding for protecting or enforcing any right or interest arising from the Property if, as and when instructed
by the Company to do so;

 

(h)              
Render to the Company monthly written statements of the activities of, and amounts in, the Trust Account reflecting all receipts and disbursements
of the Trust Account;

 

(i)                
Commence liquidation of the Trust Account only after and promptly after (x) receipt of, and only in accordance with, the terms of a
letter from the Company (“Termination Letter”) in a form substantially similar to that attached hereto as either Exhibit
A or Exhibit B signed on behalf of the Company by its Chief Executive Officer, President, Chief Financial Officer, Chief
Operating Officer, General Counsel, Secretary or Chairman of the board of directors of the Company (the “Board”)
or other authorized officer of the Company, and complete the liquidation of the Trust Account and distribute the Property in the
Trust Account, including interest (less up to $100,000 of interest that may be released to the Company to pay dissolution expenses
and which interest shall be net of any taxes payable, it being understood that the Trustee has no obligation to monitor or question
the Company’s position that an allocation has been made for taxes payable), only as directed in the Termination Letter and the
other documents referred to therein;, or (y) upon the date which is eighteen (18) months after the closing of the Offering, or such
later date as may be approved by the Company’s shareholders in accordance with the Company’s Amended and Restated
Memorandum and Articles of Association (“Articles”), as it may be amended from time to time, if a Termination Letter has
not been received by the Trustee prior to such date, in which case the Trust Account shall be liquidated in accordance with the
procedures set forth in the Termination Letter attached as Exhibit B and the Property in the Trust Account, including interest (less
up to $100,000 of interest that may be released to the Company to pay dissolution expenses and which interest shall be net of any
taxes payable), shall be distributed to the Public Shareholders of record as of such date;

 

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(j)                
Upon written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto as
Exhibit C (a “Tax Payment Withdrawal Instruction”), withdraw from the Trust Account and distribute to the Company
the amount of interest earned on the Property requested by the Company to cover any tax obligation owed by the Company as a result of
assets of the Company or interest or other income earned on the Property, which amount shall be delivered directly to the Company by electronic
funds transfer or other method of prompt payment, and the Company shall forward such payment to the relevant taxing authority; provided,
however, that to the extent there is not sufficient cash in the Trust Account to pay such tax obligation, the Trustee shall liquidate
such assets held in the Trust Account as shall be designated by the Company in writing to make such distribution so long as there is no
reduction in the principal amount per share initially deposited in the Trust Account; provided, further, however,
that if the tax to be paid is a franchise tax, the written request by the Company to make such distribution shall be accompanied by a
copy of the franchise tax bill for the Company (it being acknowledged and agreed that any such amount in excess of interest income earned
on the Property shall not be payable from the Trust Account). The written request of the Company referenced above shall constitute presumptive
evidence that the Company is entitled to said funds, and the Trustee shall have no responsibility to look beyond said request;

 

(k)              
Upon written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto
as Exhibit D (a “Shareholder Redemption Withdrawal Instruction”), the Trustee shall distribute on behalf
of the Company the amount requested by the Company to be used to redeem Ordinary Shares from Public Shareholders properly submitted
in connection with a shareholder vote to approve an amendment to the Company’s Articles (A) to modify the substance or
timing of the Company’s obligation to allow redemption in connection with the Company’s initial merger, share exchange,
asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses
(a “Business Combination”) or to redeem 100% of the Company’s public shares if the Company does not
complete its initial Business Combination within twenty-four eighteen(2418) months from the
closing of the Offering or (B) with respect to any other provision relating to shareholders’ rights or pre-initial Business
Combination activity. The written request of the Company referenced above shall constitute presumptive evidence that the Company is
entitled to distribute said funds, and the Trustee shall have no responsibility to look beyond said request; and

 

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(l)                
Not make any withdrawals or distributions from the Trust Account other than pursuant to Sections 1(i), (j) or (k)
above.

  

2.                 
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:

 

(a)              
Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, President, Chief Executive
Officer, Chief Financial Officer, Chief Operating Officer, General Counsel, Secretary or other authorized officer of the Company. In addition,
except with respect to its duties under Sections 1(i), 1(j) and 1(k) hereof, the Trustee shall be entitled to rely
on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care,
believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly
confirm such instructions in writing;

 

(b)              
Subject to Section 4 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all reasonable and documented
expenses, including reasonable outside counsel fees and disbursements, or losses suffered by the Trustee in connection with any action
taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or
in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder,
or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s or its representatives’
gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement
of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(b), it shall
notify the Company in writing of such claim (hereinafter referred to as the “Indemnified Claim”). The Trustee shall
have the right to conduct and manage the defense against such Indemnified Claim; provided that the Trustee shall obtain the consent
of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to
settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld;
provided, further, that the Company may conduct and manage the defense against any Indemnified Claim if the Trustee does
not promptly take action to mount such a defense. The Company may participate in such action with its own counsel;

 

(c)              
Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee, and
transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood
that the Property shall not be used to pay such fees unless and until the Property is distributed to the Company pursuant to Sections
1(i) and 1(j) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration
fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as
set forth in this Section 2(c), Schedule A hereto and as may be provided in Section 2(b) hereof;

 

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(d)              
In connection with any vote of the Company’s shareholders regarding a Business Combination, provide to the Trustee an affidavit
or certificate of the inspector of elections for the shareholder meeting verifying the vote of such shareholders regarding such Business
Combination;

 

(e)              
Provide the Underwriters with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect
to any proposed withdrawal from the Trust Account promptly after it issues the same; 

 

(f)               
Expressly provide in any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the
Form of Exhibit A that the Deferred Discount be paid directly to the account or accounts directed by the Underwriters; and

 

(g)              
Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee
to make any distributions that are not permitted under this Agreement.

 

3.                 
Limitations of Liability. The Trustee shall have no responsibility or liability to:

 

(a)              
Imply obligations, perform duties, inquire or otherwise be subject to the provisions of any agreement or document other than this Agreement
and that which is expressly set forth herein;

 

(b)              
Take any action with respect to the Property, other than as directed in Section 1 hereof, and the Trustee shall have no liability
to any party except for liability arising out of the Trustee’s or its representatives’ gross negligence, fraud or willful
misconduct;

 

(c)              
Institute any proceeding for the collection of any principal and income arising from, or institute, appear in or defend any proceeding
of any kind with respect to, any of the Property unless and until it shall have received instructions from the Company given as provided
herein to do so and the Company shall have advanced or guaranteed to it funds sufficient to pay any reasonably incurred and documented
expenses incident thereto;

 

(d)              
Refund any depreciation in principal of any Property;

 

(e)              
Assume that the authority of any person designated by the Company to give instructions hereunder shall not be continuing unless provided
otherwise in such designation, or unless the Company shall have delivered a written revocation of such authority to the Trustee;

 

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(f)               
The other parties hereto or to anyone else for any action taken or omitted by it, or any action suffered by it to be taken or
omitted, in good faith and in the Trustee’s best judgment, except for the Trustee’s or its representatives’ gross
negligence, fraud or willful misconduct. The Trustee may rely conclusively and shall be protected in acting upon any order, notice,
demand, certificate, opinion or advice of counsel (including counsel chosen by the Trustee with written notification to the Company,
which counsel may be the Company’s counsel), statement, instrument, report or other paper or document (not only as to its due
execution and the validity and effectiveness of its provisions, but also as to the truth and acceptability of any information
therein contained) which the Trustee believes, in good faith and with reasonable care, to be genuine and to be signed or presented
by the proper person or persons. The Trustee shall not be bound by any notice or demand, or any waiver, modification, termination or
rescission of this Agreement or any of the terms hereof, unless evidenced by a written instrument delivered to the Trustee, signed
by the proper party or parties and, if the duties or rights of the Trustee are affected, unless it shall give its prior written
consent thereto;

  

(g)              
Verify the accuracy of the information contained in the Registration Statement;

 

(h)              
Provide any assurance that any Business Combination entered into by the Company or any other action taken by the Company is as contemplated
by the Registration Statement;

 

(i)                
File information returns with respect to the Trust Account with any local, state or federal taxing authority or provide periodic written
statements to the Company documenting the taxes payable by the Company, if any, relating to any interest income earned on the Property;

 

(j)                
Prepare, execute and file tax reports, income or other tax returns and pay any taxes with respect to any income generated by, and activities
relating to, the Trust Account, regardless of whether such tax is payable by the Trust Account or the Company, including, but not limited
to, franchise and income tax obligations, except pursuant to Section 1(j) hereof; or

 

(k)              
Verify calculations, qualify or otherwise approve the Company’s written requests for distributions pursuant to Sections 1(i),
1(j) or 1(k) hereof.

 

4.                 
Trust Account Waiver. The Trustee has no right of set-off or any right, title, interest or claim of any kind (“Claim”)
to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account that it
may have now or in the future. In the event the Trustee has any Claim against the Company under this Agreement, including, without limitation,
under Section 2(b) or Section 2(c) hereof, the Trustee shall pursue such Claim solely against the Company and its assets
outside the Trust Account and not against the Property or any monies in the Trust Account.

 

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5.                 
Termination; Replacement of Trustee. This Agreement shall terminate as follows:

 

(a)              
If the Trustee gives written notice to the Company that it desires to resign under this Agreement, the Company shall use its reasonable
efforts to locate a successor trustee, pending which the Trustee shall continue to act in accordance with this Agreement. At such time
that the Company notifies the Trustee that a successor trustee has been appointed and has agreed to become subject to the terms of this
Agreement (whether following the Trustee giving notice that it desires to resign under this Agreement or the Company otherwise electing
to replace the Trustee under this Agreement), the Trustee shall transfer the management of the Trust Account to the successor trustee,
including but not limited to the transfer of copies of the reports and statements relating to the Trust Account and any other reasonable
transfer requests the Company may make, whereupon this Agreement shall terminate; provided, however, that in the event that
the Company does not locate a successor trustee within ninety (90) days of receipt of the resignation notice from the Trustee, the Trustee
may submit an application to have the Property deposited with any court in the State of New York or with the United States District Court
for the Southern District of New York and upon such deposit, the Trustee shall be immune from any liability whatsoever;

 

(b)              
At such time that the Trustee has completed the liquidation of the Trust Account and its obligations in accordance with the provisions
of Section 1(i) hereof and distributed the Property in accordance with the provisions of the Termination Letter, this Agreement
shall terminate except with respect to Section 2(b); or

 

(c)              
If the Offering is not consummated within ten (10) business days of the date of this Agreement, in which case any funds received by the
Trustee from the Company or Endurance Antarctica Partners, LLC, as applicable, for purposes of funding the Trust Account shall be promptly
returned to the Company or Endurance Antarctica Partners, LLC, as applicable.

 

6.                 
Miscellaneous.

 

(a)              
The Company and the Trustee each acknowledge that the Trustee will follow the security procedures set forth below with respect to funds
transferred from the Trust Account. The Company and the Trustee will each restrict access to confidential information relating to such
security procedures to authorized persons. Each party must notify the other party immediately if it has reason to believe unauthorized
persons may have obtained access to such confidential information, or of any change in its authorized personnel. In executing funds transfers,
the Trustee shall rely upon all information supplied to it by the Company, including, account names, account numbers, and all other identifying
information relating to a Beneficiary, Beneficiary’s bank or intermediary bank. Except for any liability arising out of the Trustee’s
or its representatives’ gross negligence, fraud or willful misconduct, the Trustee shall not be liable for any loss, liability or
out-of-pocket expense resulting from any error in the information or transmission of the funds.

 

(b)              
This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving effect
to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.

 

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(c)              
This Agreement contains the entire agreement and understanding of the parties hereto with respect to the subject matter hereof. Except
for Sections 1(i), 1(j) and 1(k) hereof (which may not be modified, amended or deleted without the affirmative vote
of sixty five percent (65%) of the then outstanding Ordinary Shares and Class B ordinary shares, par value $0.0001 per share, of the Company
voting together as a single class; provided that no such amendment will affect any Public Shareholder who has otherwise indicated its
election to redeem its Ordinary Shares in connection with a shareholder vote sought to amend this Agreement), this Agreement or any provision
hereof may only be changed, amended or modified (other than to correct a typographical error) by a writing signed by each of the parties
hereto.

 

(d)              
The parties hereto consent to the jurisdiction and venue of any state or federal court located in the City of New York, State of New York,
for purposes of resolving any disputes hereunder. AS TO ANY CLAIM, CROSS-CLAIM OR COUNTERCLAIM IN ANY WAY RELATING TO THIS AGREEMENT,
EACH PARTY WAIVES THE RIGHT TO TRIAL BY JURY.

 

(e)              
Any notice, consent or request to be given in connection with any of the terms or provisions of this Agreement shall be in writing and
shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery, by electronic
mail or by facsimile transmission:

  

if to the Trustee, to:

 

Continental Stock Transfer & Trust Company

One State Street, 30th Floor

New York, NY 10004

Attn: Francis Wolf and Celeste Gonzalez

Email: fwolf@continentalstock.com and

cgonzalez@continemtalstock.com

 

if to the Company, to:

 

Endurance Acquisition Corp.

630 Fifth Avenue, 20th Floor

New York, NY 10111

Attn: Richard Davis, Chief Executive Officer

 

in each case, with copies to:

 

Morrison & Foerster LLP

250 West 55th Street

New York, NY 10019

Attn: Larry P. Medvinsky 

Justin R. Salon

Andrew P. Campbell

 

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and

 

Cantor Fitzgerald & Co.

110 East 59th Street

New York, NY 10022

Attn.: Tristan Yapalater

  

Truist Securities, Inc.

3333 Peachtree Rd NE

Atlanta, GA 30326

Attn: Gregory Ogborn

 

and

 

Ellenoff Grossman & Schole LLP

1345 Avenue of the Americas

New York, NY 10105

Attn: Stuart Neuhauser

   

(f)               
This Agreement may not be assigned by the Trustee without the prior consent of the Company.

 

(g)              
Each of the Company and the Trustee hereby represents that it has the full right and power and has been duly authorized to enter into
this Agreement and to perform its respective obligations as contemplated hereunder. The Trustee acknowledges and agrees that it shall
not make any claims or proceed against the Trust Account, including by way of set-off, and shall not be entitled to any funds in the Trust
Account under any circumstance.

 

(h)              
This Agreement is the joint product of the Trustee and the Company and each provision hereof has been subject to the mutual consultation,
negotiation and agreement of such parties and shall not be construed for or against any party hereto.

 

(i)                
This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts
shall together constitute one and the same instrument. Delivery of a signed counterpart of this Agreement by facsimile or electronic transmission
shall constitute valid and sufficient delivery thereof.

 

(j)                
Each of the Company and the Trustee hereby acknowledges and agrees that the Underwriters are third party beneficiaries of this Agreement.

 

(k)              
Except as specified herein, no party to this Agreement may assign its rights or delegate its obligations hereunder to any other person
or entity.

  

[Signature Page Follows]

 

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IN WITNESS WHEREOF, the parties have duly
executed this Investment Management Trust Agreement as of the date first written above.

 

	 	Continental Stock Transfer & Trust Company, as Trustee
	 	 
	 	By:	/s/ Francis Wolf
	 	 	Name: Francis Wolf
	 	 	Title: Vice President
	 	 
	 	ENDURANCE ACQUISITION CORP.
	 	 
	 	By:	/s/ Richard Davis
	 	 	Name: Richard Davis
	 	 	Title: CEO

 

[Signature Page to Investment Management Trust
Agreement]

 

     

     

    

 

SCHEDULE A

 

	Fee Item	 	Time and method of payment	 	Amount	 
	Initial acceptance fee	 	Initial closing of the Offering by wire transfer.	 	$	3,500.00	 
	 	 	 	 	 	 	 
	Annual fee	 	First year fee payable at initial closing of the Offering by wire transfer, thereafter on the anniversary of the effective date of the Offering by wire transfer or check.	 	$	10,000.00	 
	 	 	 	 	 	 	 
	Transaction processing fee for disbursements to Company under Sections 1(i) and 1(j)	 	Billed to Company following disbursement made to Company under Sections 1(i) and 1(j)	 	$	250.00	 
	 	 	 	 	 	 	 
	Paying Agent services as required pursuant to Sections 1(i) and 1(k)	 	Billed to Company upon delivery of service pursuant to Sections 1(i) and 1(k)	 	 	Prevailing rates	 

 

    Sched. A-1

     

    

 

EXHIBIT A

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

One State Street, 30th Floor

New York, NY 10004

Attn: Francis Wolf and Celeste Gonzalez

 

Re: Trust Account Termination Letter

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section 1(i) of the Investment Management Trust
Agreement between Endurance Acquisition Corp. (the “Company”) and Continental Stock Transfer & Trust Company (the
 “Trustee”), dated as of September [●], 2021 (the “Trust Agreement”), this is to advise you
that the Company has entered into an agreement with [insert name] (the “Target Business”) to consummate a business
combination with Target Business (the “Business Combination”) on or about [insert date]. The Company shall notify you
at least seventy-two (72) hours in advance of the actual date of the consummation of the Business Combination (the “Consummation
Date”). Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement. 

 

In accordance with the terms of the Trust Agreement,
we hereby authorize you to commence to liquidate all of the assets of the Trust Account and to transfer the proceeds into the above-referenced
trust operating account at J.P. Morgan Chase Bank, N.A. to the effect that, on the Consummation Date, all of the funds held in the Trust
Account will be immediately available for transfer to the account or accounts that Cantor Fitzgerald & Co. and Truist Securities,
Inc. (the “Underwriters”) (with respect to the Deferred Discount) and the Company shall direct on the Consummation
Date. It is acknowledged and agreed that while the funds are on deposit in the trust operating account at J.P. Morgan Chase Bank, N.A.
awaiting distribution, neither the Company nor the Underwriters will earn any interest on such funds.

 

On the Consummation Date (i) counsel for the
Company shall deliver to you written notification that the Business Combination has been consummated, or will be consummated
substantially, concurrently with your transfer of funds to the accounts as directed by the Company (the
 “Notification”) and (ii) the Company shall deliver to you (a) a certificate of the Chief Executive Officer, which
verifies that the Business Combination has been approved by a vote of the Company’s shareholders, if a vote is held and (b)
joint written instruction signed by the Company and the Underwriters with respect to the transfer of the funds held in the Trust
Account, including payment of the Deferred Discount from the Trust Account (the “Instruction Letter”). You are
hereby directed and authorized to transfer the funds held in the Trust Account immediately upon your receipt of the Notification and
the Instruction Letter, in accordance with the terms of the Instruction Letter. In the event that certain deposits held in the Trust
Account may not be liquidated by the Consummation Date without penalty, you will notify the Company in writing of the same and the
Company shall direct you as to whether such funds should remain in the Trust Account and be distributed after the Consummation Date
to the Company. Upon the distribution of all the funds, net of any payments necessary for reasonable unreimbursed expenses related
to liquidating the Trust Account, your obligations under the Trust Agreement shall be terminated.

 

In the event that the Business Combination is not
consummated on the Consummation Date described in the notice thereof and we have not notified you on or before the original Consummation
Date of a new Consummation Date, then upon receipt by the Trustee of written instructions from the Company, the funds held in the Trust
Account shall be reinvested as provided in Section 1(c) of the Trust Agreement on the business day immediately following the Consummation
Date as set forth in the notice as soon thereafter as possible.

 

	 	Very Truly Yours,
	 	 
	 	ENDURANCE ACQUISITION CORP.
	 	 
	 	By:	 
	 	 	Name:	 
	 		Title:	 

 

	cc:	
    Cantor Fitzgerald & Co.

    Truist Securities, Inc. as Underwriters

 

    E-A

     

    

 

EXHIBIT B

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

One State Street, 30th Floor

New York, NY 10004

Attn: Francis Wolf and Celeste Gonzalez

 

Re: Trust Account Termination Letter

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section 1(i) of the Investment
Management Trust Agreement between Endurance Acquisition Corp. (the “Company”) and Continental Stock Transfer &
Trust Company (the “Trustee”), dated as of September [●], 2021 (the “Trust Agreement”), this
is to advise you that the Company has been unable to effect a Business Combination with a Target Business within the time frame specified
in the Company’s Amended and Restated Memorandum and Articles of Association (“Articles”), as described in the
Company’s Prospectus relating to the Offering. Capitalized terms used but not defined herein shall have the meanings set forth in
the Trust Agreement.

 

In accordance with the terms of the Trust
Agreement, we hereby authorize you to liquidate all of the assets in the Trust Account and to transfer the total proceeds into the trust
operating account at J.P. Morgan Chase Bank, N.A. to await distribution to the Public Shareholders. The Company has selected [●]
as the effective date for the purpose of determining when the Public Shareholders will be entitled to receive their share of the liquidation
proceeds. You agree to be the Paying Agent of record and, in your separate capacity as Paying Agent, agree to distribute said funds directly
to the Company’s Public Shareholders in accordance with the terms of the Trust Agreement and the Articles of the Company. Upon the
distribution of all the funds, your obligations under the Trust Agreement shall be terminated, except to the extent otherwise provided
in Section 1(j) of the Trust Agreement.

 

	 	Very truly yours,
	 	 
	 	ENDURANCE ACQUISITION CORP.
	 	 
	 	By:	 
	 	 	Name:	 
	 		Title:	 

 

	cc:	
    Cantor Fitzgerald & Co.

    Truist Securities, Inc. as Underwriters

 

    E-B

     

    

 

EXHIBIT C

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

One State Street, 30th Floor

New York, NY 10004

Attn: Francis Wolf and Celeste Gonzalez

 

Re: Trust Account Tax Payment Withdrawal Instruction

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section 1(j) of the Investment
Management Trust Agreement between Endurance Acquisition Corp. (the “Company”) and Continental Stock Transfer &
Trust Company (the “Trustee”), dated as of September [●], 2021 (the “Trust Agreement”), the
Company hereby requests that you deliver to the Company $[●] of the interest income earned on the Property as of the date hereof.
Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

 The Company needs such funds to pay for the
tax obligations as set forth on the attached tax return or tax statement. In accordance with the terms of the Trust Agreement, you are
hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to the Company’s
operating account at:

 

[WIRE INSTRUCTION INFORMATION]

 

	 	Very truly yours,
	 	 
	 	ENDURANCE ACQUISITION CORP.
	 	 
	 	By:	 
	 	 	Name:	 
	 		Title:	 

 

	cc:	
    Cantor Fitzgerald & Co.

    Truist Securities, Inc. as Underwriters

 

    E-C

     

    

 

EXHIBIT D

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

One State Street, 30th Floor

New York, NY 10004

Attn: Francis Wolf and Celeste Gonzalez

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Re: Trust Account Shareholder Redemption Withdrawal Instruction

 

Pursuant to Section 1(l) of the Investment
Management Trust Agreement between Endurance Acquisition Corp. (the “Company”) and Continental Stock Transfer &
Trust Company (the “Trustee”), dated as of September [●], 2021 (the “Trust Agreement”), the
Company hereby requests that you deliver to the redeeming Public Shareholders of the Company $[●] of the principal and interest
income earned on the Property as of the date hereof into a segregated account held by you on behalf of the Beneficiaries for distribution
to the Shareholders who have requested redemption of their shares. Capitalized terms used but not defined herein shall have the meanings
set forth in the Trust Agreement.

 

The Company needs such funds to pay its Public
Shareholders who have properly elected to have their Ordinary Shares redeemed by the Company in connection with a shareholder vote to
approve an amendment to the Company’s amended and restated memorandum and articles of association (A) to modify the substance
or timing of the Company’s obligation to allow redemption in connection with the Company’s initial Business Combination or
to redeem 100% of the Company’s public shares if it does not complete its initial Business Combination within such time as is described
in the Company’s amended and restated memorandum and articles of association or (B) with respect to any other provision relating
to shareholders’ rights or pre-initial Business Combination activity. As such, you are hereby directed and authorized to transfer
(via wire transfer) such funds promptly upon your receipt of this letter to the redeeming Public Shareholders in accordance with your
customary procedures.

 

	 	Very Truly Yours,

 

	 	ENDURANCE ACQUISITION CORP.
	 	 
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

cc: Cantor Fitzgerald & Co.

Truist Securities, Inc. as
Underwriters

 

    E-DExhibit 10.2 

 

FORM OF SHAREHOLDER SUPPORT AGREEMENT

 

COMPANY SHAREHOLDER SUPPORT AGREEMENT

 

THIS
COMPANY SHAREHOLDER SUPPORT AGREEMENT (this “Agreement”), dated as of March 8, 2022, is entered
into by and among Endurance Acquisition Corp., a Cayman Islands exempt company (“SPAC”), SatixFy
Communications Ltd., a limited liability company organized under the laws of the State of Israel (the
 “Company”), and the party listed on the signature pages hereto as a “Shareholder” (the
 “Shareholder”).

 

RECITALS

 

WHEREAS,
concurrently herewith, SPAC, SatixFy MS, a Cayman Islands exempt company and a direct, wholly-owned subsidiary of the Company (“Merger
Sub”), and the Company are entering into a Business Combination Agreement substantially in the form attached hereto as Annex
A (as amended, supplemented, restated or otherwise modified from time to time, the “Business Combination Agreement”;
capitalized terms used but not otherwise defined in this Agreement shall have the meanings ascribed to them in the Business Combination
Agreement);

 

WHEREAS,
immediately prior to the Closing Date, the Company Preferred Shares will be converted into Company Ordinary Shares, in accordance with
the Governing Documents of the Company and, immediately following such conversion, the Company shall effect the issuance of bonus shares
to the holders of each Company Ordinary Share that is issued and outstanding immediately prior to the Effective Time, such that immediately
following such issuance each holder of Company Ordinary Shares immediately following consummation of the Merger (as defined below) shall
hold an aggregate number of Company Ordinary Shares equal to the aggregate number of Company Ordinary Shares held by such holder immediately
prior to the Merger multiplied by the Exchange Ratio calculated in accordance with Section 2.1(c) of the Business Combination
Agreement (such issuance of bonus shares, together with the conversion of Company Preferred Shares, the “Capital Restructuring”);

 

WHEREAS,
at the Effective Time, upon the terms and subject to the conditions of the Business Combination Agreement and in accordance with the applicable
provisions of Companies Act, Merger Sub will merge with and into SPAC (the “Merger”), with SPAC continuing as
the surviving company after the Merger, as a result of which SPAC will become a direct, wholly-owned subsidiary of the Company;

 

WHEREAS,
as of the date hereof, the Shareholder is the record and “beneficial owner” (within the meaning of Rule 13d-3 under
the Securities Exchange Act of 1934, as amended (together with the rules and regulations promulgated thereunder, the “Exchange
Act”)) of and is entitled to vote [[●] Company Ordinary Shares, [●] Company Preferred A Shares, [●] Company
Preferred B Shares, and [●] Company Preferred C Shares] (collectively, the “Owned Shares”; the Owned
Shares and any additional Company Ordinary Shares and/or Company Preferred Shares (or any securities convertible into or exercisable
or exchangeable for Company Ordinary Shares and/or Company Preferred Shares) in which the Shareholder has or acquires record or beneficial
ownership after the date hereof, including by purchase, as a result of a share dividend, share split, recapitalization, combination,
reclassification, exchange or change of such shares, or upon exercise or conversion of any securities, the “Covered Shares”);
and

 

     

     

    

 

WHEREAS,
as a condition and inducement to the willingness of SPAC to enter into the Business Combination Agreement, SPAC, the Company and the Shareholder
are entering into this Agreement.

 

NOW,
THEREFORE, in consideration of the foregoing and the mutual covenants and agreements herein contained, and intending to be
legally bound hereby, SPAC, the Company and the Shareholder hereby agree as follows:

 

1.             Consents;
Agreement to Vote.

 

(a)             The
Shareholder acknowledges that it has read the Business Combination Agreement and this Agreement and has had the opportunity to consult
with its tax and legal advisors. The Shareholder hereby consents to (i) the consummation of the transactions contemplated by the
Business Combination Agreement and the Ancillary Documents (as defined below), (ii) the termination of the Shareholders’ Agreement
dated as of May 12, 2020 and waives any and all rights granted to it thereunder and (iii) the withholding of a number of Ordinary
Shares to which the Shareholder is entitled in connection with the Pre-Closing Recapitalization as may be approved by the Board of Directors
of the Company in connection with the transactions contemplated by the Business Combination Agreement, such Ordinary Shares to be withheld
on a pro rata basis among the holders of the class(es) or series of the share capital of the Company and deposited into a separate escrow
or trust account for potential transfer to one or more third party investors in the Company, including pursuant to the terms of the Subscription
Agreements entered into concurrently with the Business Combination Agreement.

 

    	 	2	 

     

    

 

(b)             Concurrently
with the execution and delivery of this Agreement, the Shareholder irrevocably and unconditionally agrees to (i) vote (or cause to
be voted, as applicable) the Covered Shares in favor of all of the matters, actions and proposals necessary to consummate the transactions
contemplated by the Business Combination Agreement and the Ancillary Documents as defined in the Business Combination Agreement as amended,
supplemented, restated or otherwise modified from time to time (the “Ancillary Documents”) (including, but not
limited to, the Pre-Closing Recapitalization, the Merger and the Company Shareholder Proposals) at the Company Shareholders Meeting (including
without limitation any class vote undertaken at any such meeting and at every adjournment or postponement thereof or in connection with
any written action of the shareholders or otherwise), and (ii) when such meeting is held, appear at such meeting or otherwise cause
the Covered Shares to be counted as present at the Company Shareholders Meeting for purposes of constituting a quorum. Without limiting
the generality of the foregoing, prior to the Closing, (A) to the extent that it is necessary or advisable, in each case, as reasonably
determined by the Company, for any matters, actions or proposals to be approved by the Shareholder in connection with, or otherwise in
furtherance of, the transactions contemplated by the Business Combination Agreement or the Ancillary Documents (including, but not limited
to, proposals for the approval and adoption of any amendments to the Shareholders’ Agreement, the PIPE Financing, the Debt Financing,
the Backstop Financing, the employee stock purchase plan, the D&O insurance policy covering the Company’s directors and officers
and indemnification agreements with the directors of the Company, in each case, in connection with the transactions contemplated by the
Business Combination Agreement), the Shareholder shall (1) vote (or cause to be voted, as applicable) the Covered Shares in favor
of or consent to or approve any such matters, actions or proposals promptly following written request thereof from the Company, as applicable,
and (2) if applicable, cause the Covered Shares to be counted as present at any meeting of the Company Shareholders for purposes
of constituting a quorum in connection with any vote contemplated by clause (1), (B) the Shareholder shall vote (or cause to be voted,
as applicable) the Covered Shares against and withhold consent or approval with respect to (1) any Company Acquisition Proposal,
(2) any proposals which are in competition with or materially inconsistent with, the Business Combination Agreement or any Ancillary
Document, (3) any change in the present capitalization of the Company or any amendment of the Governing Documents of the Company,
except to the extent expressly permitted under the Business Combination Agreement, (4) any liquidation, dissolution or other change
in the Company’s corporate structure or business, or (5) any other matter, action or proposal that (I) results in or would
reasonably be expected to result in (x) a breach of any of the Company’s covenants, agreements or obligations under the Business
Combination Agreement or (y) any of the conditions to the Closing set forth in Article VI of the Business Combination Agreement
not being satisfied, or (II) would, or would reasonably be expected to, prevent or materially delay or impair the Shareholder’s
ability to perform its obligations hereunder or to consummate the transactions contemplated hereby or to prevent or materially delay or
impair the consummation of the Merger or the other transactions contemplated by the Business Combination Agreement and the Ancillary Documents;
and (C) in any other circumstances upon which a consent or other approval is required under the Company’s Governing Documents
or otherwise sought in furtherance of any of the transactions contemplated by the Business Combination Agreement or any Ancillary Document
(including the Debt Financing and the Backstop Financing), in each case as determined by the Company, vote, consent or approve (or cause
to be voted, consented or approved) all of the Shareholder’s Covered Shares in favor thereof. The Shareholder irrevocably and unconditionally
agrees to waive, release and forever discharge (i) any and all rights of first refusal, preemptive rights, rights of first offer,
rights of first notice, participation, co-sale, anti-dilution, over-allotment, registration rights, any veto rights, rights of purchase,
subscription or any other similar rights and any notice thereof as set forth and contained in the existing Articles of Association of
the Company (the “Rights”), any other agreement, certificate, instrument, or document, and/or in accordance
with applicable Law or otherwise and (ii) the performance or satisfaction of any and all obligations of the Company (or any of its
Subsidiaries), its officers, directors, employees, agents or representatives in connection with the Rights. Such waiver shall be binding
upon the Shareholder and his/her/its heirs, personal representatives, successors and assigns. The Shareholder agrees to terminate any
investor rights agreements, side letters and similar agreements effective upon the closing of the transactions contemplated by the Business
Combination Agreement, without any ongoing liability or obligation of the Company or any of its Subsidiaries.

 

(c)             Without
limiting any other rights or remedies of SPAC or the Company, the Shareholder hereby irrevocably appoints the Company or any individual
designated by the Company as the Shareholder’s agent, attorney-in-fact and proxy (with full power of substitution and resubstitution),
for and in the name, place and stead of the Shareholder, to attend on behalf of the Shareholder any meeting of the Company Shareholders
with respect to the matters described in Section 1(b) above, to include the Covered Shares in any computation for purposes
of establishing a quorum at any such meeting of the Company Shareholders, to vote (or cause to be voted, as applicable) the Covered Shares
or consent or approve (or withhold consent or approval, as applicable) with respect to any of the matters described in Section 1(b) above
in connection with any meeting of the Company Shareholders, any action by written consent or any other approval by the Company Shareholders,
in each case, in the event that (i) the Shareholder fails to perform or otherwise comply with the covenants, agreements or obligations
set forth in Section 1(b) above, (ii) any Proceeding is pending or threatened by or on behalf of the Shareholder
or the Company that challenges or could impair the enforceability or validity of the covenants, agreements or obligations set forth in
this Agreement or (iii) the Company notifies the Shareholder of its intent to exercise the proxy set forth in this Section 1(c).

 

    	 	3	 

     

    

 

(d)             The
proxy granted by the Shareholder pursuant to Section 1(c) above is coupled with an interest sufficient in law to support
an irrevocable proxy and is granted in consideration for the Company entering into the Business Combination Agreement and agreeing to
consummate the transactions contemplated thereby. The proxy granted by the Shareholder pursuant to Section 1(c) above
is also a durable proxy and shall survive the bankruptcy, dissolution, death, incapacity or other inability to act by the Shareholder
and shall revoke any and all prior proxies granted by the Shareholder with respect to the Covered Shares. The vote, consent or approval
by the proxyholder with respect to the matters described in Section 1(b) above shall control in the event of any conflict
between such vote, consent or approval (or withholding of consent or approval, as applicable) by the proxyholder of the Covered Shares
and a vote, consent or approval (or withholding of consent or approval, as applicable) by the Shareholder of the Covered Shares (or any
other Person with the power to vote or provide consent or approval (or withhold consent or approval, as applicable) with respect to the
Covered Shares) with respect to the matters described in Section 1(b) above. The proxyholder may not exercise the proxy
granted pursuant to Section 1(c) above on any matter except for those matters described in Section 1(b) above.
The proxy granted by the Shareholder pursuant to Section 1(c) above shall be valid for the duration of this Agreement.

 

2.             No
Inconsistent Agreements. The Shareholder hereby covenants and agrees that the Shareholder shall not, at any time prior to the Termination
Date (as defined below), (i) enter into any voting agreement or voting trust with respect to any of the Shareholder’s Covered
Shares that is inconsistent with the Shareholder’s obligations pursuant to this Agreement, (ii) grant a proxy or power of attorney
with respect to any of the Shareholder’s Covered Shares that is inconsistent with the Shareholder’s obligations pursuant to
this Agreement, or (iii) enter into any agreement or undertaking that is otherwise inconsistent with, or would interfere with, or
prohibit or prevent it from satisfying, its obligations pursuant to this Agreement.

 

3.             Termination.
This Agreement shall automatically terminate, without any notice or other action by any Party, and no party shall have any further obligations
or liabilities under this Agreement, upon the earliest of (i) the Effective Time, (ii) the termination of the Business Combination
Agreement in accordance with its terms or (iii) the time this Agreement is terminated upon the mutual written agreement of SPAC,
the Company and the Shareholder (the earliest such date under clause (i), (ii) and (iii) being referred to herein as the “Termination
Date”); provided, that the provisions set forth in Sections ‎10
to ‎23 below shall survive the termination of this Agreement;
provided, further, that termination of this Agreement shall not relieve any party hereto from any liability for any willful
breach of, or actual fraud in connection with, this Agreement prior to such termination.

 

    	 	4	 

     

    

 

4.             Representations
and Warranties of the Shareholder. The Shareholder hereby represents and warrants to the Company and SPAC as to itself, as of the
date hereof and as of the Closing, as follows:

 

(a)             The
Shareholder is the sole record and beneficial owner (within the meaning of Rule 13d-3 under the Exchange Act) of, and has good, valid
and marketable title to, the Covered Shares, free and clear of Liens other than as created by this Agreement or pursuant to the Governing
Documents of the Company. As of the date hereof, other than the Owned Shares, the Shareholder does not own beneficially or of record any
share capital of the Company (or any securities convertible into share capital of the Company).

 

(b)             The
Shareholder (i) except as provided in this Agreement, has full voting power, full power of disposition and full power to issue instructions
with respect to the matters set forth herein, in each case, with respect to the Shareholder’s Covered Shares, (ii) has not
entered into any voting agreement or voting trust or any other agreement or arrangement, including any proxy, consent or power of attorney,
with respect to any of the Shareholder’s Covered Shares that is inconsistent with the Shareholder’s obligations pursuant to
this Agreement, (iii) has not granted a proxy or power of attorney with respect to any of the Shareholder’s Covered Shares
that is inconsistent with the Shareholder’s obligations pursuant to this Agreement, and has no knowledge and is not aware of any
such proxy or power of attorney in effect, and (iv) has not entered into any agreement or undertaking that is otherwise inconsistent
with, or would interfere with, or prohibit or prevent it from satisfying, its obligations pursuant to this Agreement, and has no knowledge
and is not aware of any such agreement or undertaking.

 

(c)             (A) If
the Shareholder is a natural person, he or she has all the requisite power and authority and has taken all action necessary in order to
execute and deliver this Agreement, to perform his or her obligations hereunder and to consummate the transactions contemplated hereby,
and (B) if the Shareholder is not a natural person it (i) is a legal entity duly organized, validly existing and, to the extent
such concept is applicable, in good standing under the applicable Law of the jurisdiction of its organization, and (ii) has all requisite
corporate or other power and authority and has taken all corporate or other action necessary in order to, execute, deliver and perform
its obligations under this Agreement and to consummate the transactions contemplated hereby. This Agreement has been duly executed and
delivered by the Shareholder and constitutes a valid and binding agreement of the Shareholder enforceable against the Shareholder in accordance
with its terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar applicable
Law affecting creditors’ rights generally and subject, as to enforceability, to general principles of equity.

 

(d)             Other
than the filings, notices and reports pursuant to, in compliance with or required to be made under the Exchange Act, if any, no filings,
notices, reports, consents, registrations, approvals, permits, waivers, expirations of waiting periods or authorizations are required
to be obtained by the Shareholder from, or to be given by the Shareholder to, or be made by the Shareholder with, any Governmental Entity
in connection with the execution, delivery and performance by the Shareholder of this Agreement, the consummation of the transactions
contemplated hereby or the Merger and the other transactions contemplated by the Business Combination Agreement.

 

    	 	5	 

     

    

 

(e)             The
execution, delivery and performance of this Agreement by the Shareholder do not, and the consummation of the transactions contemplated
hereby or the Merger and the other transactions contemplated by the Business Combination Agreement will not, constitute or result in (i) a
breach or violation of, or a default under, the Governing Documents of the Shareholder (if the Shareholder is not a natural person), (ii) with
or without notice, lapse of time or both, a breach or violation of, a termination (or right of termination) of or a default under, the
loss of any benefit under, the creation, modification or acceleration of any obligations under or the creation of a Lien on any of the
properties, rights or assets of the Shareholder pursuant to any Contract binding upon the Shareholder or, assuming (solely with respect
to performance of this Agreement and the transactions contemplated hereby), compliance with the matters referred to in Section ‎‎4(d),
under any applicable Law to which the Shareholder is subject or (iii) violate, or constitute a breach under, any Order or applicable
Law to which the Shareholder or any of his, her or its properties or assets are subject or bound or (iv) any change in the rights
or obligations of any party under any Contract legally binding upon the Shareholder, except, in the case of clause (ii), (iii) or
(iv) directly above, for any such breach, violation, termination, default, creation, acceleration or change that would not, individually
or in the aggregate, reasonably be expected to prevent or materially delay or impair the Shareholder’s ability to perform its obligations
hereunder or to consummate the transactions contemplated hereby, the consummation of the Merger or the other transactions contemplated
by the Business Combination Agreement and the Ancillary Documents.

 

(f)             As
of the date of this Agreement, there is no action, proceeding or investigation pending against the Shareholder or, to the knowledge of
the Shareholder, threatened against the Shareholder that questions the beneficial or record ownership of the Shareholder’s Covered
Shares, that would reasonably be expected to question the validity of this Agreement or to prevent or materially impair, enjoin or delay
the ability of the Shareholder to perform its obligations under this Agreement or to consummate the transactions contemplated hereby.

 

(g)             The
Shareholder is a sophisticated shareholder and has adequate information concerning the business and financial condition of SPAC and the
Company to make an informed decision regarding this Agreement and the other transactions contemplated by the Business Combination Agreement
and has independently and based on such information as the Shareholder has deemed appropriate, made its own analysis and decision to enter
into this Agreement. The Shareholder acknowledges that none of SPAC, the Company or any other Person have made, and Shareholder has not
relied upon, any representation or warranty, whether express or implied, of any kind or character except as expressly set forth in this
Agreement. The Shareholder acknowledges that the agreements contained herein with respect to the Covered Shares owned by the Shareholder
are irrevocable.

 

(h)             The
Shareholder understands and acknowledges that SPAC and the Company are entering into the Business Combination Agreement in reliance upon
the Shareholder’s execution and delivery of this Agreement and the representations, warranties, covenants and other agreements of
the Shareholder contained herein.

 

(i)              No
investment banker, broker, finder or other intermediary is entitled to any broker’s, finder’s, financial advisor’s or
other similar fee or commission in connection with the transactions contemplated hereby or by the Business Combination Agreement based
upon arrangements made by or, to the knowledge of the Shareholder, on behalf of the Shareholder.

 

    	 	6	 

     

    

 

(j)             There
is no Order or Law issued by any court of competent jurisdiction or other Governmental Entity, or other legal restraint or prohibition
relating to the Shareholder or any of his, her or its Affiliates that would reasonably be expected to adversely affect the ability of
the Shareholder to perform, or otherwise comply with, any of his, her or its covenants, agreements or obligations under this Agreement
in any material respect.

 

5.             Certain
Covenants of the Shareholder. Except in accordance with the terms of this Agreement, the Shareholder hereby covenants and agrees as
follows:

 

(a)             Prior
to the Termination Date, the Shareholder shall not, and shall cause its Affiliates and Subsidiaries not to, shall not authorize its Representatives
to, and shall use its reasonable best efforts to cause its and their respective Representatives not to, directly or indirectly, (i) solicit,
initiate, knowingly encourage (including by means of furnishing or disclosing information), knowingly facilitate, approve, endorse, recommend,
discuss or negotiate, directly or indirectly, any inquiry, proposal or offer (written or oral) that constitutes, or may reasonably be
expected to result in or lead to, a Company Acquisition Proposal (in each case, other than the Transactions, a “Company Business
Combination Proposal”); (ii) furnish or disclose any non-public information about the Company to any Person in connection
with, or that could reasonably be expected to lead to, a Company Business Combination Proposal (except that the Shareholder shall be permitted
to disclose non-public information about the Company to its limited partners, members, or shareholders for the limited purpose of securing
the corporate or other power and authority to execute and perform this Agreement, provided the Shareholder takes reasonable efforts to
cause such Persons to comply with this Section ‎‎5(a));
(iii) enter into any Contract or other arrangement or understanding regarding a Company Business Combination Proposal; or (iv) otherwise
cooperate in any way with, or assist or participate in, or knowingly facilitate or encourage any effort or attempt by any Person to do
or seek to do any of the foregoing. The Shareholder shall (A) notify the Company and the SPAC promptly (and in any event within one
Business Day) upon receipt by the Shareholder of any Company Business Combination Proposal, and describe the material terms and conditions
of any such Company Business Combination Proposal in reasonable detail (including the identity of the Persons making such Company Business
Combination Proposal) and (B) keep the Company and the SPAC reasonably informed on a current basis of any modifications or other
material developments with respect to such Company Business Combination Proposal or information. The Shareholder also agrees that, immediately
following the execution of this Agreement, the Shareholder shall, and shall cause its Affiliates and Subsidiaries to, and shall use its
reasonable best efforts to cause its and their respective Representatives to, cease any solicitations, discussions or negotiations with
any Person (other than the parties hereto and their respective Representatives) conducted heretofore in connection with a Company Business
Combination Proposal or with respect to any opposition to or competition with the consummation of the Merger.

 

Notwithstanding
anything in this Agreement to the contrary, (i) the Shareholder shall not be responsible for the actions of the Company or the board
of directors of the Company (or any committee thereof), any Subsidiary of the Company, or any officers, directors (in their capacity as
such), employees and professional advisors of any of the foregoing (the “Company Related Parties”), including
with respect to any of the matters contemplated by this Section ‎‎5(a), (ii) the Shareholder makes
no representations or warranties with respect to the actions of any of the Company Related Parties and (iii) any breach by the Company
of its obligations under Section 5.6 of the Business Combination Agreement shall not be considered a breach of this Section ‎‎5(a) (it
being understood for the avoidance of doubt that the Shareholder shall remain responsible for any breach by the Shareholder or its, his
or her Representatives (other than any such Representative that is a Company Related Party) of this Section ‎‎5(a)).

 

    	 	7	 

     

    

 

(b)             The
Shareholder hereby agrees not to, directly or indirectly, prior to the Termination Date, except in connection with the Capital Restructuring,
(i) sell, transfer, pledge, tender, grant, encumber, assign, hedge, swap, convert or otherwise dispose of (including by merger (including
by conversion into securities or other consideration) by tendering into any tender or exchange offer, by gift, testamentary disposition,
by operation of applicable Law, by encumbering or by using a derivative to transfer or otherwise), either voluntarily or involuntarily
(collectively, “Transfer”), or enter into any Contract, option or other arrangement (including profit sharing
agreement) with respect to the Transfer of any of the Shareholder’s Covered Shares; (ii) publicly announce any intention to
effect any transaction specified in clause (i); or (iii) take any action that would make any representation or warranty of the Shareholder
contained herein untrue or incorrect or prevent or materially delay or impair the Shareholder’s ability to perform its obligations
hereunder or to consummate the transactions contemplated hereby; provided, however, that nothing herein shall prohibit a
Transfer to a Permitted Transferee (as defined in the Governing Documents) (a “Permitted Transfer”); provided,
further, that any Permitted Transfer shall be permitted only if, as a precondition to such Permitted Transfer, the Permitted Transferee
agrees in a writing, reasonably satisfactory in form and substance to SPAC, to assume all of the obligations of the Shareholder under,
and be bound by all of the terms of, this Agreement; provided, further, that any Permitted Transfer shall not relieve the
Shareholder of its obligations under this Agreement. Any Transfer in violation of this Section ‎‎5(b) with
respect to the Shareholder’s Covered Shares shall be null and void. Nothing in this Agreement shall prohibit direct or indirect
transfers of equity or other interests in a Shareholder.

 

(c)             The
Shareholder hereby authorizes the Company to maintain a copy of this Agreement at either the executive office or the registered office
of the Company.

 

(d)             The
Shareholder hereby acknowledges that it has read the Business Combination Agreement and this Agreement and has had the opportunity to
consult with its tax and legal advisors. The Shareholder shall be bound by and comply with Section 5.3 (Confidentiality; Access
to Information) and Section 5.4 (Public Announcement) of the Business Combination Agreement (and any relevant definitions
contained in such sections) as if the Shareholder was an original signatory to the Business Combination Agreement with respect to such
provisions.

 

6.             Further
Assurances. From time to time, at the Company and the SPAC’s mutual request and without further consideration, the Shareholder
shall execute and deliver such additional documents and take all such further action as may be reasonably necessary to effect the actions
and consummate the transactions contemplated by this Agreement. The Shareholder further agrees not to commence or participate in, and
to take all actions necessary to opt out of any class action with respect to, any action or claim, derivative or otherwise, against SPAC,
the Sponsor, the Company or any of their respective Affiliates, successors and assigns relating to the negotiation, execution or delivery
of this Agreement, the Business Combination Agreement or the consummation of the transactions contemplated hereby and thereby (including
the Capital Restructuring), including, but not limited to, allegations of a breach of any fiduciary duty of any Person in connection with
the evaluation, negotiation or entry into the Business Combination Agreement.

 

    	 	8	 

     

    

 

7.             Disclosure.
The Shareholder hereby authorizes the Company and SPAC to publish and disclose in any announcement or disclosure required by the SEC (or
as otherwise required by any applicable securities laws or any other securities authorities), or include in any document or information
required to be filed with or furnished to the SEC or the NYSE or NASDAQ, the Shareholder’s identity and ownership of the Covered
Shares and the nature of the Shareholder’s obligations under this Agreement and, if deemed appropriate by the Company or SPAC, a
copy of this Agreement. The Shareholder will promptly provide any information reasonably requested by the Company or SPAC for, and will
otherwise use commercially reasonable efforts to obtain any approval required in connection with, any regulatory application or filing
made or approval sought in connection with the transactions contemplated by the Business Combination Agreement (including filings with
the SEC or NASDAQ), including the PIPE Financing.

 

8.             [Reserved].

 

9.             Amendment
and Modification. This Agreement may not be amended, modified or supplemented in any manner, whether by course of conduct or otherwise,
except by an instrument in writing signed by SPAC, the Company and the Shareholder. Any party to this Agreement may, at any time prior
to the Termination Date, waive any of the terms or conditions of this Agreement, or agree to an amendment or modification to this Agreement
in the manner contemplated by this Section 9 or Section 10, as applicable.

 

10.           Waiver.
No failure or delay by any party hereto exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall
any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege.
The rights and remedies of the parties hereto hereunder are cumulative and are not exclusive of any rights or remedies which they would
otherwise have hereunder. Any agreement on the part of a party hereto to any such waiver shall be valid only if set forth in a written
instrument executed and delivered by such party.

 

11.           Notices.
All notices and other communications hereunder shall be in writing and shall be deemed given: (a) on the date established by the
sender as having been delivered personally; (b) one Business Day after being sent by a nationally recognized overnight courier guaranteeing
overnight delivery; (c) on the date sent, if sent by email, to the addresses below; or (d) on the fifth Business Day after the
date mailed, by certified or registered mail, return receipt requested, postage prepaid. Such communications, to be valid, must be addressed
as follows:

 

if to the Company or SPAC
following the Closing, to:

 

SatixFy Communications Ltd.

12 Hamada St.,

Rehovot, 7670315

Israel

Attention:     Yoav
Leibovitch

Email:             yoav@satixfy.com

 

    	 	9	 

     

    

 

with
copies (which shall not constitute notice) to:

 

Davis Polk & Wardwell LLP

450 Lexington Avenue

New York NY 10017

Attention: Lee Hochbaum

Brian Wolfe

Michael Kaplan

Email:            lee.hochbaum@davispolk.com
brian.wolfe@davispolk.com

michael.kaplan@davispolk.com

 

and

 

Gross & Co.

132 Derech Menachem Begin St.

1 Azrieli Center, Round Building

Tel Aviv 6701101

Israel

Attention:      Richard
J. Mann

Email:              rick@gkh-law.com

 

if to SPAC prior to the Closing, to:

 

Endurance Acquisition Corp.

630 Fifth Avenue, 20th Floor

New York, NY 10111

Attention:      Richard
C. Davis

Email:              rdavis@enduranceacquisition.com

 

with copies (which shall not constitute notice) to:

 

Morrison & Foerster LLP

250 West 55th Street

New York, NY 10019

Attention:      Larry
Medvinsky and David Slotkin

Email:              lmedvinsky@mofo.com

dslotkin@mofo.com

 

Meitar
| Law Offices

16 Abba Hillel Road

Ramat Gan 52506, Israel

Attention:      Clifford M. J. Felig

Email:              cfelig@meitar.com

 

    	 	10	 

     

    

 

If to the Shareholder, to
such address indicated on the Company’s records with respect to the Shareholder or to such other address or addresses as the Shareholder
may from time to time designate in writing.

 

12.           No
Ownership Interest. Nothing contained in this Agreement shall be deemed to vest in SPAC any direct or indirect ownership or incidence
of ownership of or with respect to the Covered Shares of the Shareholder. All rights, ownership and economic benefits of and relating
to the Covered Shares of the Shareholder shall remain vested in and belong to the Shareholder, and SPAC shall have no authority to manage,
direct, restrict, regulate, govern or administer any of the policies or operations of Company or exercise any power or authority to direct
the Shareholder in the disposition of any of the Shareholder’s Covered Shares, except as otherwise provided herein.

 

13.           Entire
Agreement. This Agreement, the Business Combination Agreement and the Ancillary Documents constitute the entire agreement among the
parties hereto with respect to the subject matter hereof and supersede all other prior agreements and understandings, both written and
oral, among the parties hereto with respect to the subject matter hereof. No representations, warranties, covenants, understandings, agreements,
oral or otherwise, with respect to the subject matter contemplated by this Agreement exist between the parties hereto except as expressly
set forth or referenced in this Agreement and the Business Combination Agreement. In the event of any inconsistency, conflict, or ambiguity
as to the rights and obligations of the parties hereto under this Agreement and the Business Combination Agreement, the terms of this
Agreement shall control and supersede any such inconsistency, conflict or ambiguity.

 

14.           No
Third-Party Beneficiaries. The Shareholder hereby agrees that its representations, warranties and covenants set forth herein are solely
for the benefit of SPAC and the Company in accordance with and subject to the terms of this Agreement, and this Agreement is not intended
to, and does not, confer upon any Person other than the parties hereto any rights or remedies hereunder, including the right to rely upon
the representations and warranties set forth herein.

 

15.           Governing
Law and Venue; Service of Process; Waiver of Jury Trial.

 

(a)             This
Agreement and any action, suit, dispute, controversy or claim arising out of this Agreement, or the validity, interpretation, breach or
termination of this Agreement, shall be governed by and construed in accordance with the internal law of the State of Delaware regardless
of the law that might otherwise govern under applicable principles of conflicts of law thereof.

 

(b)             Each
of the parties hereto irrevocably consents to the exclusive jurisdiction and venue of the Chancery Court of the State of Delaware, or,
if such court declines jurisdiction, then to any federal court located in Wilmington, Delaware or any appellate court therefrom in connection
with any matter based upon or arising out of this Agreement, agrees that process may be served upon them in any manner authorized by the
laws of the State of Delaware for such Person and waives and covenants not to assert or plead any objection which they might otherwise
have to such manner of service of process. Each of the parties hereto and any Person asserting rights as a third-party beneficiary may
do so only if he, she or it hereby waives, and shall not assert as a defense in any legal dispute, that: (i) such Person is not personally
subject to the jurisdiction of the above named courts for any reason; (ii) such Proceeding may not be brought or is not maintainable
in such court; (iii) such Person’s property is exempt or immune from execution; (iv) such Proceeding is brought in an
inconvenient forum; or (v) the venue of such Proceeding is improper. Each of the parties hereto and any Person asserting rights as
a third-party beneficiary hereby agrees not to commence or prosecute any such action, claim, cause of action or suit other than before
one of the above-named courts, nor to make any motion or take any other action seeking or intending to cause the transfer or removal of
any such action, claim, cause of action or suit to any court other than one of the above-named courts, whether on the grounds of inconvenient
forum or otherwise. Each of the parties hereto hereby consents to service of process in any such proceeding in any manner permitted by
Delaware law, and further consents to service of process by nationally recognized overnight courier service guaranteeing overnight delivery,
or by registered or certified mail, return receipt requested, at its address specified pursuant to Section ‎‎11.
Notwithstanding the foregoing in this Section ‎‎15,
any party hereto may commence any action, claim, cause of action or suit in a court other than the above-named courts solely for the purpose
of enforcing an order or judgment issued by one of the above-named courts.

 

    	 	11	 

     

    

 

(c)             TO
THE EXTENT NOT PROHIBITED BY APPLICABLE LAW WHICH CANNOT BE WAIVED, EACH OF THE PARTIES HERETO AND ANY PERSON ASSERTING RIGHTS AS A THIRD-PARTY
BENEFICIARY MAY DO SO ONLY IF HE, SHE OR IT IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT TO TRIAL BY JURY ON ANY CLAIMS OR COUNTERCLAIMS
ASSERTED IN ANY LEGAL DISPUTE RELATING TO THIS AGREEMENT AND FOR ANY COUNTERCLAIM RELATING THERETO, WHETHER NOW EXISTING OR HEREAFTER
ARISING. IF THE SUBJECT MATTER OF ANY SUCH LEGAL DISPUTE IS ONE IN WHICH THE WAIVER OF JURY TRIAL IS PROHIBITED, NO PARTY HERETO NOR ANY
PERSON ASSERTING RIGHTS AS A THIRD-PARTY BENEFICIARY SHALL ASSERT IN SUCH LEGAL DISPUTE A NONCOMPULSORY COUNTERCLAIM ARISING OUT OF OR
RELATING TO THIS AGREEMENT. FURTHERMORE, NO PARTY HERETO NOR ANY PERSON ASSERTING RIGHTS AS A THIRD-PARTY BENEFICIARY SHALL SEEK TO CONSOLIDATE
ANY SUCH LEGAL DISPUTE WITH A SEPARATE ACTION OR OTHER PROCEEDING IN WHICH A JURY TRIAL CANNOT BE WAIVED.

 

16.             Assignment;
Successors. No party hereto shall assign this Agreement or any part hereof without the prior written consent of the other parties.
Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective permitted
successors and assigns. Any attempted assignment in violation of the terms of this Section ‎‎16
shall be null and void, ab initio.

 

17.             Non-Recourse.
This Agreement may only be enforced against, and any claim or cause of action based upon, arising out of, or related to this Agreement
or the transactions contemplated hereby may only be brought against, the entities that are expressly named as parties hereto, and then
only with respect to the specific obligations set forth herein with respect to such party. Except to the extent a named party to this
Agreement (and then only to the extent of the specific obligations undertaken by such named party in this Agreement), (a) no past,
present or future director, officer, employee, incorporator, member, partner, shareholder, affiliate, agent, attorney, advisor or representative
or affiliate of any named party to this Agreement and (b) no past, present or future director, officer, employee, incorporator, member,
partner, shareholder, affiliate, agent, attorney, advisor or representative or affiliate of any of the foregoing shall have any liability
(whether in contract, tort, equity or otherwise) for any one or more of the representations, warranties, covenants, agreements or other
obligations or liabilities of any one or more of SPAC, the Company or the Shareholder under this Agreement of or for any claim based on,
arising out of, or related to this Agreement or the transactions contemplated hereby.

 

    	 	12	 

     

    

 

18.           Enforcement.
The parties hereto agree that irreparable damage for which monetary damages, even if available, would not be an adequate remedy, would
occur in the event that the parties do not perform their obligations under the provisions of this Agreement in accordance with its specified
terms or otherwise breach such provisions. The parties hereto acknowledge and agree that (a) the parties shall be entitled to an
injunction, specific performance, or other equitable relief, to prevent breaches of this Agreement and to enforce specifically the terms
and provisions hereof, including the Shareholder’s obligations to vote its Covered Shares as provided in this Agreement, without
proof of damages, prior to the valid termination of this Agreement, this being in addition to any other remedy to which they are entitled
under this Agreement, and (b) the right of specific enforcement is an integral part of the transactions contemplated by this Agreement
and without that right, none of the parties would have entered into this Agreement. Each party agrees that it will not oppose the granting
of specific performance and other equitable relief on the basis that the other parties have an adequate remedy at applicable Law or that
an award of specific performance is not an appropriate remedy for any reason at applicable Law or equity. The parties acknowledge and
agree that any party seeking an injunction to prevent breaches of this Agreement and to enforce specifically the terms and provisions
of this Agreement in accordance with this Section ‎18
shall not be required to provide any bond or other security in connection with any such injunction.

 

19.            Severability.
Whenever possible, each provision of this Agreement will be interpreted in such a manner as to be effective and valid under applicable
Law, but if any term or other provision of this Agreement is held to be invalid, illegal or unenforceable under applicable Law, all other
provisions of this Agreement shall remain in full force and effect so long as the economic or legal substance of the transactions contemplated
hereby is not affected in any manner materially adverse to any party. Upon such determination that any term or other provision of this
Agreement is invalid, illegal or unenforceable under applicable Law, the parties hereto shall negotiate in good faith to modify this Agreement
so as to effect the original intent of the parties hereto as closely as possible in an acceptable manner in order that the transactions
contemplated hereby are consummated as originally contemplated to the greatest extent possible.

 

20.           Counterparts.
This Agreement and any amendment hereto may be executed in one or more counterparts, each of which shall be deemed to be an original,
but all of which shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Agreement
or any amendment hereto by electronic means, including docusign, e-mail, or scanned pages shall be effective as delivery of a manually
executed counterpart to this Agreement or any amendment hereto.

 

    	 	13	 

     

    

 

21.           Interpretation
and Construction. The words “hereof,” “herein” and “hereunder” and words of like import used in
this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement. The descriptive headings
used herein are inserted for convenience of reference only and are not intended to be part of or to affect the meaning or interpretation
of this Agreement. References to Sections are to Sections of this Agreement unless otherwise specified. Any singular term in this Agreement
shall be deemed to include the plural, and any plural term the singular. The definitions contained in this Agreement are applicable to
the masculine as well as to the feminine and neuter genders of such term. Whenever the words “include,” “includes”
or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation,”
whether or not they are in fact followed by those words or words of like import. “Writing,” “written” and comparable
terms refer to printing, typing and other means of reproducing words (including electronic media) in a visible form. References to any
statute shall be deemed to refer to such statute as amended and to any rules or regulations promulgated thereunder. References to
any person include the successors and permitted assigns of that person. References from or through any date mean, unless otherwise specified,
from and including such date or through and including such date, respectively. In the event an ambiguity or question of intent or interpretation
arises, this Agreement will be construed as if drafted jointly by the parties hereto, and no presumption or burden of proof will arise
favoring or disfavoring any party by virtue of the authorship of any of the provisions of this Agreement.

 

22.           Capacity
as a Shareholder. Notwithstanding anything herein to the contrary, the Shareholder signs this Agreement solely in the Shareholder’s
capacity as a shareholder of the Company, and not in any other capacity, and this Agreement shall not limit or otherwise affect the actions
of the Shareholder or any affiliate, employee or designee of the Shareholder or any of its affiliates in his or her capacity, if applicable,
as an officer or director of the Company or any other Person. The Shareholder shall not be liable or responsible for any breach, default,
or violation of any representation, warranty, covenant or agreement hereunder by any other shareholder that is entering into a similar
Agreement.

 

23.           Trust
Account Waiver. The Shareholder agrees that he, she or it shall be subject to the terms and conditions of Section 8.18 (‘Trust
Account Waiver’) of the Business Combination Agreement as though the Shareholder were the Company thereunder and that Section 8.18
(as so modified) is hereby incorporated into this Agreement, mutatis mutandis.

 

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

 

    	 	14	 

     

    

 

IN WITNESS WHEREOF, the parties
hereto have caused this Agreement to be executed (where applicable, by their respective officers or other authorized Persons thereunto
duly authorized) as of the date first written above.

 

	 	ENDURANCE ACQUISITION CORP.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	SATIXFY COMMUNICATIONS LTD.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

[Signature Page to Company Shareholder Support
Agreement]

 

     

     

    

 

IN WITNESS WHEREOF, the parties
hereto have caused this Agreement to be executed (where applicable, by their respective officers or other authorized Persons thereunto
duly authorized) as of the date first written above.

 

	 	[SHAREHOLDER]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	 	16

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