Document:

Exhibit
10.1

 

[•], 2013

 

 

Global Defense & National Security Systems, Inc.

11921 Freedom Drive, Suite 550

Two Fountain Square

Reston, Virginia 20190

 

Re:INITIAL PUBLIC OFFERING

 

Ladies and Gentlemen:

 

This letter (this
"Letter Agreement") is being delivered to you in accordance with the Underwriting Agreement (the
"Underwriting Agreement") entered into among Global Defense & National Security Systems, Inc., a
Delaware corporation (the “Company”), Cowen & Company, LLC, Maxim Group LLC, and I-Bankers Securities,
Inc. (together with Cowen & Company, LLC and Maxim Group LLC, the “Underwriters”), dated [•],
2013, relating to an underwritten initial public offering (the “IPO”) of up to 6,900,000 shares of common
stock, par value $0.0001 per share (the “Common Stock”) of the Company. The Common Stock shall be sold in
the IPO pursuant to a registration statement on Form S-1 and prospectus (the "Prospectus") filed by the Company
with the Securities and Exchange Commission and the Company shall apply to have the Common Stock listed on the Nasdaq Capital
Market. Certain capitalized terms used herein are defined in Section 13 hereof.

 

In order to induce the Company and the Underwriters
to enter into the Underwriting Agreement and to proceed with the IPO and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the undersigned hereby agrees with the Company as follows:

 

1.If the Company solicits approval of its stockholders of
a proposed Business Combination, the undersigned will vote all Insider Shares and any shares acquired by the undersigned in the
IPO or the secondary public market in favor of any such proposed Business Combination. The undersigned will not convert any of
the shares of Common Stock owned by the undersigned into their pro rata share of the aggregate amount then on deposit in the Trust
Account in connection with a stockholder vote to approve a Business Combination or in connection with any vote to amend the Amended
and Restated Certificate of Incorporation of the Company or sell any of the shares of Common Stock owned by the undersigned pursuant
to a tender offer as described in the Registration Statement.

 

    	 

    	 

    

 

2.In the event that the Company fails to consummate a Business
Combination within twenty one (21) months from the effective date (the “Effective Date”) of the Registration
Statement, the undersigned will take all reasonable actions within the undersigned’s power to (i) cease all operations except
for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten (10) business days thereafter, redeem
100% of the outstanding IPO Shares at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the
Trust Account, less franchise and income taxes to the extent they may be paid from interest earned on the Trust Account, divided
by the number of then outstanding public shares, which redemption will completely extinguish public stockholders’ rights
as stockholders (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii)
as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining stockholders
and Board of Directors, dissolve and liquidate, subject (in the case of (ii) and (iii) above) to the Company’s obligations
under Delaware law to provide for claims of creditors and the requirements of other applicable law. The undersigned agrees that
in connection with any cessation of the corporate existence of the Company, it will take all reasonable steps to cause the Company
to adopt a plan of distribution in accordance with Section 281(b) of the General Corporation Law of the State of Delaware or any
successor provision thereto. The undersigned hereby waives any and all right, title, interest or claim of any kind (each a “Claim”)
in or to (x) any distribution of the Trust Account with respect to the undersigned’s Insider Shares in connection with a
liquidation and (y) any remaining net assets of the Company after such liquidation. The undersigned hereby waives any Claim against
the Trust Account the undersigned may have in the future as a result of, or arising out of, any contracts or agreements with the
Company and will not seek recourse against the funds held in or distributed from the Trust Account for any reason, other than expressly
permitted in the Registration Statement, including the redemption or liquidation of any IPO Shares purchased after the date of
the IPO.

 

3.Except as disclosed in the Registration Statement, neither
the undersigned nor any Affiliate of the undersigned will be entitled to receive and will not accept any compensation for services
rendered to the Company prior to or in connection with the consummation of the Business Combination; provided, that the undersigned
shall be entitled to reimbursement from the Company upon approval by the Company’s Audit Committee for the undersigned’s
reasonable out-of-pocket expenses incurred in connection with seeking and consummating a Business Combination.

 

4.Neither the undersigned nor any Affiliate of the undersigned
will be entitled to receive or accept from the Company a finder’s fee, broker commission or any other compensation in the
event the undersigned or any Affiliate of the undersigned originates a Business Combination.

 

5.The undersigned shall place the undersigned’s Insider
Shares in escrow, in accordance with the terms of a Securities Escrow Agreement which the Company will enter into with the undersigned
and American Stock Transfer & Trust Company, as escrow agent, in form and substance acceptable to the Company.

 

6.Of the total Insider Shares, 50% of such shares will be
released from escrow six months after the closing of a Business Combination. The remaining 50% of the Insider Shares will be released
from escrow one year after the closing of a Business Combination. Up to 261,290 of the Insider Shares will be released from escrow
and mandatorily redeemed if the over-allotment option is not exercised in full by the Underwriters. Prior to the conclusion of
such escrow periods, the Insider Shares will not be transferred, assigned sold or released from escrow, subject to certain limited
exceptions, including transfers (1) to the Company’s officers, directors and employees, to the undersigned’s affiliates
or its members upon its liquidation, (2) to relatives and trusts for estate planning purposes, (3) by virtue of the laws of descent
and distribution upon death, (4) pursuant to a qualified domestic relations order, (5) by certain pledges to secure obligations
incurred in connection with purchases of the Company’s securities or (6) by private sales made in connection with the consummation
of a Business Combination at prices no greater than the price at which the shares were originally purchased, in each case where
the transferee agrees to the terms of the escrow agreement and mandatory redemption, as the case may be.

 

    	 

    	 

    

 

7.The undersigned shall not transfer, assign or sell any
of the Private Placement Shares (except to certain permitted transferees) until thirty (30) days after the completion of a Business
Combination.

 

8.With respect to the undersigned, the information in the
Registration Statement is true and accurate in all respects and does not omit any material information with respect to the undersigned.
The undersigned represents and warrants that:

 

8.1the undersigned is not subject to, or a respondent
in, any legal action for any injunction, cease-and-desist order or order or stipulation to desist or refrain from any act or practice
relating to the offering of securities in any jurisdiction;

 

8.2the undersigned has never been convicted of or pleaded
guilty to any crime (i) involving any fraud; (ii) relating to any financial transaction or handling of funds of another person;
(iii) pertaining to any dealings in any securities; or (iv) moral turpitude, and the undersigned is not currently a defendant in
any such criminal proceeding;

 

8.3the undersigned has never been suspended or expelled
from membership in any securities or commodities exchange or association or had a securities or commodities license or registration
denied, suspended or revoked;

 

8.4a petition under any federal bankruptcy laws or any
state insolvency law was not filed by or against, nor was a receiver, fiscal agent or similar officer appointed by a court for
the business or property of the undersigned, or for any partnership in which the undersigned was a general partner within the past
ten years;

 

8.5the undersigned has not been subject to any order
prohibiting and is not subject to any legal proceeding seeking to prohibit the undersigned from engaging in any type of business
practice;

 

8.6the undersigned has not been found by a court of
competent jurisdiction in a civil action by the Securities and Exchange Commission or by any other federal or state administrative
or regulatory authority to have violated any federal or state securities law;

 

8.7the undersigned has not been found by a court of
competent jurisdiction in a civil action by the Commodity Futures Trading Commission or by any other federal or state administrative
or regulatory authority to have violated any federal or state commodities law; and

 

    	 

    	 

    

 

8.8the Company will not consummate any Business Combination
that involves a target acquisition which is affiliated with Global Defense & National Security Holdings LLC, a Delaware limited
liability company (the "Sponsor"), or any of the officers or directors of the Company, including (i) an entity that is
affiliated with any of the foregoing, (ii) an entity in which any of the foregoing or their affiliates
are currently officers or directors, or (iii) an entity in which any of the foregoing or their affiliates are currently invested
through an investment vehicle controlled by them (except an entity in which any of the foregoing or their affiliates are currently passive investors and had in the aggregate greater than 1% of the outstanding stock), unless the Company has obtained an opinion from an independent investment banking
firm which is a member of the Financial Industry Regulatory Authority and the approval of a majority of the Company’s disinterested
and independent directors (if it has any at that time) that the Business Combination is fair to its unaffiliated stockholders from
a financial point of view.

 

9.[In the event of the distribution of the Trust Account
upon the Company’s failure to complete a Business Combination within twenty-one (21) months from the Effective Date, the
undersigned agrees (for purposes of this paragraph 9, the undersigned shall be referred to as the “Indemnitor”) to
indemnify and hold harmless the Company against any and all loss, liability, claim, damage and expense whatsoever (including, but
not limited to, any and all legal or other expenses reasonably incurred in investigating, preparing or defending against any litigation,
whether pending or threatened, or any claim whatsoever) to which the Company may become subject as a result of any claim by (i)
any third party for services rendered or contracted for or products sold to the Company or (ii) a prospective target business with
which the Company has entered into an acquisition agreement (a “Target”); provided, however, that such indemnification
of the Company by the Indemnitor shall apply only to the extent necessary to ensure that such claims by a Target or by a third
party for services rendered or products sold to the Company do not reduce the amount of funds in the Trust Account to below $10.55
per IPO Share and provided, further, that such indemnification of the Company by the Indemnitor shall apply only if such third
party or Target has not executed an agreement waiving claims against and all rights to seek access to the Trust Account. Notwithstanding
any of the foregoing, such indemnification of the Company by the Indemnitor shall not apply as to any claims against the Company
by the underwriters of the IPO. The Indemnitor shall have the right to defend against any such claim with counsel of its choice
reasonably satisfactory to the Company if, within 15 days following written receipt of notice of the claim to the Indemnitor, the
Indemnitor notifies the Company in writing that the Indemnitor shall undertake such defense. The Indemnitor agrees not to seek
repayment of such expenses from the Company or the holders of the IPO Shares. Notwithstanding the foregoing, this paragraph 9 shall
cease to be applicable upon consummation of a Business Combination.]1

 

10.This Letter Agreement shall be binding on the Company
and the undersigned and the undersigned’s respective successors, heirs, personal representatives and assigns. This letter
agreement shall terminate on the earlier of (i) the date upon which the Business Combination is consummated and (ii) the date upon
which the liquidation and distribution of the Trust Account is completed, provided that the following Sections shall survive such
termination: 3, 4, 5, 11, 12, and 13.

 

 

 

 

 

 

 

 

 

1
To be included in letter agreement between the Company and the Sponsor.

  

    	 

    	 

    

 

11.This Letter Agreement shall be governed by, and construed
in accordance with, the laws of the State of New York applicable to contracts executed in and to be performed in that State, including,
without limitation, Sections 5-1401 and 5-1402 of the New York General Obligations Law and the New York Civil Practice Laws and
Rules 327(b). Each of the Company and the undersigned hereby (i) agrees that any action, proceeding or claim against him or it
arising out of or relating in any way to this letter agreement shall be brought and enforced in the courts of the State of New
York or the United States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which
jurisdiction shall be exclusive and (ii) waives any objection to such exclusive jurisdiction and that such courts represent an
inconvenient forum.

 

12.Each party hereto hereby irrevocably and unconditionally
waives the right to a trial by jury in any action, suit, counterclaim or other proceeding (whether based on contract, tort or otherwise)
arising out of, connected with or relating to this Letter Agreement.

 

13. As used herein:

 

13.1“Affiliate” shall have the meaning
ascribed to it in Rule 12b-2 of the General Rules and Regulations under the Securities Exchange Act of 1934, as amended.

 

13.2.“Business Combination” shall
have the meaning set forth in the Registration Statement.

 

13.3“Insiders” shall mean each of
the following:

 

	 	Damian Perl
	 	Dale R. Davis
	 	Craig Dawson
	 	Frederic Cassis
	 	Gavin Long
	 	Dean G. Popps
	 	Hon. David C. Gompert
	 	Dr. John Gannon
	 	Global Defense & National Security Holdings LLC

 

13.4“Insider Shares” shall mean all
of the shares of Common Stock of the Company issued prior to the IPO and prior to the Private Placement Shares.

 

13.5“IPO Shares” shall mean the shares
of Common Stock issued in the Company’s IPO.

 

13.6“Registration Statement” shall
mean the registration statement filed by the Company on Form S-1 (No. 333-191195) with the Securities and Exchange Commission on
September 16, 2013, and any amendment or supplement thereto, in connection with the IPO.

 

13.7“Private Placement Shares” shall
mean the shares of Common Stock to be purchased by the undersigned simultaneously with and subject to the consummation of the Company’s
IPO, as set forth in that certain Private Placement Agreement, dated as of [•], 2013, by and between the Company and the undersigned.

 

    	 

    	 

    

 

13.8“Trust Account” shall mean the
trust account established pursuant to the Investment Management Trust Agreement to be entered into by and between the Company and
American Stock Transfer & Trust Company, as Trustee (the “Trust Agreement”), the amounts therein to be released
only in the event of the consummation of a Business Combination, a liquidation of the Company or as otherwise permitted by the
Trust Agreement.

 

14.No term or provision of this letter agreement may be
amended, changed, waived, altered or modified except by written instrument executed and delivered by the undersigned and the Company.

 

15. The undersigned’s biographical information, in
the case of an individual, furnished to the Company is true and accurate in all respects and does not omit any material information
with respect to the undersigned’s background. In the case of an individual, the undersigned’s questionnaire furnished
to the Company is true and accurate in all respects. The undersigned represents and warrants that: the undersigned is not subject
to or a respondent in any legal action for, any injunction, cease-and-desist order or order or stipulation to desist or refrain
from any act or practice relating to the offering of securities in any jurisdiction; the undersigned has never been convicted of,
or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any financial transaction or handling of funds of another
person, or (iii) pertaining to any dealings in any securities and the undersigned is not currently a defendant in any such criminal
proceeding; and the undersigned has never been suspended or expelled from membership in any securities or commodities exchange
or association or had a securities or commodities license or registration denied, suspended or revoked.

 

16. The undersigned, in the case of an individual, has full
right and power, without violating any agreement to which he or she is bound (including, without limitation, any non-competition
or non-solicitation agreement with any employer or former employer), to enter into this Letter Agreement and to serve as an officer
of the Company or as a director on the board of directors of the Company, as applicable, and hereby consents to being named in
the Registration Statement as an officer and/or director of the Company, as applicable.

 

    	 

    	 

    

 

	 	Sincerely,	 
	 	 	 
	 	 	 
	 	[	]

 

 

 

 

Accepted and agreed:

 

GLOBAL DEFENSE & NATIONAL SECURITY

SYSTEMS, INC.

 

	By:		 
	Name:  	 	 
	Title:   	 	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[Signature Page to Insider Letter]Exhibit 10.8

 

PRIVATE PLACEMENT PURCHASE AGREEMENT

 

This Private Placement Purchase Agreement
(this “Agreement”), dated as of                               , 2013, is made and entered into by and between Global Defense & National Security
Systems, Inc., a Delaware corporation (the “Company”), and Global Defense & National Security Holdings
LLC (“Buyer”). Buyer and the Company are collectively referred to herein as the “Parties.”

 

RECITALS:

 

WHEREAS, Buyer
wishes to purchase from the Company 645,000 shares (the “Firm Shares”) of the Company’s common
stock, par value $0.0001 per share, subject to adjustment as provided in Section 2.3 of this Agreement (the “Common
Stock”);

 

WHEREAS, in connection with the
Company’s consummation of a Business Combination (as defined below), Buyer wishes to purchase the Share from the Company
and the Company wishes to sell the Shares to Buyer on the terms and subject to the conditions set forth in this Agreement;

 

WHEREAS, this Agreement is integral
to the completion of the Company’s initial public offering (the “IPO”) in which Cowen and Company,
LLC, Maxim Group LLC, and I-Bankers Securities, Inc. are acting as underwriters (collectively, the “Underwriters”);
and

 

NOW, THEREFORE, in consideration
of the premises, representations, warranties and mutual covenants contained in this Agreement, and for other good and valuable
consideration, the receipt, sufficiency and adequacy of which are hereby acknowledged, the Parties hereto agree as follows:

 

ARTICLE I.

DEFINITIONS

 

The terms defined in this ARTICLE I shall
have for all purposes of this Agreement the respective meanings set forth below:

 

“Business Combination”
means the Company’s initial acquisition of one or more operating businesses or assets through a merger, capital stock exchange,
asset or stock acquisition, exchangeable share transaction or other similar business combination that shall have an aggregate fair
market value of at least 80% of the Company’s net assets (excluding deferred underwriting discounts and commissions) at the
time of such business combination, and pursuant to which a majority of the shares of Common Stock issued in the IPO are voted in
favor of the acquisition and the Company has net tangible assets of at least $5,000,001 upon such consummation (as described in
the Registration Statement).

 

“Buyer”
has the meaning set forth in the preamble to this Agreement.

 

“Closing”
has the meaning set forth in Section 2.4 of this Agreement.

 

“Closing Date”
has the meaning set forth in Section 2.4 of this Agreement.

 

“Common Stock”
has the meaning set forth in the recitals to this Agreement.

 

“Company”
has the meaning set forth in the preamble to this Agreement.

 

“Consent”
means any consent, approval, notification, waiver, or other similar action that is necessary or convenient.

 

“Firm Shares”
has the meaning set forth in Section 2.1 of this Agreement.

 

“Firm Shares Purchase
Price” has the meaning set forth in Section 2.2 of this Agreement.

 

    	 

    	 

    

 

“Governmental Body”
means any legislature, agency, bureau, branch, department, division, commission, court, tribunal or other similar reorganized organization
or body of any federal, state, county, municipal, local or foreign government or other similar recognized organization or body
exercising similar powers or authority.

 

“Initial Closing”
has the meaning set forth in Section 2.4 of this Agreement.

 

“Initial Closing Date”
has the meaning set forth in Section 2.4 of this Agreement.

 

“Insider Letter”
means that certain letter agreement entered into by the Company and the Buyer, dated [·].

 

“IPO”
has the meaning set forth in the recitals to this Agreement.

 

“Law” means any
law (statutory, common or otherwise), constitution, ordinance, rule, regulation, executive order or other similar authority enacted,
adopted, promulgated or applied by any Governmental Body.

 

“Lien” means
a mortgage, deed of trust, pledge, hypothecation, assignment, encumbrance, charge, restriction, lien (statutory or otherwise, including,
without limitation, any lien for taxes), security interest, preference, participation interest, priority or security agreement
or preferential arrangement of any kind or nature whatsoever, including, without limitation, any conditional sale or other title
retention agreement, any financing lease having substantially the same economic effect as any of the foregoing and the filing of
any document under the law of any applicable jurisdiction to evidence any of the foregoing, other than (i) statutory, mechanics’
or other Liens incurred in the Company’s ordinary course of business or (ii) Liens for taxes incurred but not yet due.

 

“Lockup Period”
has the meaning set forth in Section 5.2(a) of this Agreement.

 

“Option Closing”
has the meaning set forth in Section 2.4 of this Agreement.

 

“Option Closing Date”
has the meaning set forth in Section 2.4 of this Agreement.

 

“Option Shares”
has the meaning set forth in Section 2.1 of this Agreement.

 

“Option Shares Purchase
Price” has the meaning set forth in Section 2.2 of this Agreement.

 

“Order” means
an order, ruling, decision, award, judgment, injunction or other similar determination or finding by, before or under the supervision
of any Governmental Body or arbitrator.

 

“Parties”
has the meaning set forth in the preamble to this Agreement.

 

“Per Share Price” has the meaning set forth in Section 2.2 of this
Agreement.

 

“Permit” means
a permit, license, certificate, waiver, notice or similar authorization to which Buyer is a party or by which Buyer is bound or
any of its assets are subject.

 

“Permitted
Assignees” has the meaning set forth in Section 5.1 of this Agreement.

  

“Purchase Price”
means the Firm Shares Purchase Price in the case of the purchase of the Firm Shares and the Option Shares Purchase Price in the
case of the purchase of the Option Shares.

 

“Registration Statement”
means the registration statement on Form S-1, File No. 333-191195, as amended, relating to the IPO.

 

“Rule 144”
has the meaning set forth in Section 3.1(d) of this Agreement.

 

“SEC”
means the United States Securities and Exchange Commission.

 

    	 

    	 

    

 

“Securities Act”
means the United States Securities Act of 1933, as amended, or any successor federal statute, and the applicable rules and regulations
promulgated and in effect from time to time thereunder.

 

“Shares”
has the meaning set forth in Section 2.1 of this Agreement.

 

“Underwriters”
has the meaning set forth in the recitals to this Agreement.

 

ARTICLE II

PURCHASE OF COMMON STOCK

 

Section 2.1 Purchase and Sale of the
Shares. Subject to the terms and conditions hereof and in reliance upon the representations and warranties of the Parties contained
herein, on the Closing Date, the Company shall sell and deliver to Buyer, and Buyer shall purchase from the Company, the Firm Shares,
in consideration of the payment of the Firm Shares Purchase Price noted herein. Subject to the terms and conditions hereof and
in reliance upon the representations and warranties of the Parties contained herein, if the over-allotment option is exercised
by the Underwriters in full or in part, the Company shall sell and deliver to Buyer, and Buyer shall purchase from the Company,
at a price equal to $10.00 per additional private placement share (up to a maximum of 76,500 additional shares, the “Option
Shares” and together with the Firm Shares, the “Shares”) in an amount that is necessary
to initially maintain in the trust account an amount equal to $10.55 per share sold to the public in the IPO. These additional
private placement shares will be purchased in a private placement that will occur simultaneously with the purchase of shares resulting
from the exercise of the over-allotment option (the “Option Closing Date”).

 

Section 2.2 Purchase Price. As payment
in full for the Firm Shares being purchased under this Agreement and against delivery of the certificates therefor, on the Closing
Date, Buyer or its Permitted Assignees shall pay $10.00 per share (the “Per Share Price”), for an aggregate
amount of $6,450,000 (the “Firm Shares Purchase Price”), to the Company by wire transfer of immediately
available funds to the account specified by the Company to Buyer. As payment in full for the Option Shares being purchased under
this Agreement and against delivery of the certificates therefor, on the Option Closing Date, Buyer or its Permitted Assignees
shall pay the Per Share Price for each Option Share purchased to the Company (the “Option Shares Purchase Price”)
by wire transfer of immediately available funds to the account specified by the Company to Buyer.

 

Section 2.3 Adjustments.

 

(a) If after the date hereof and prior
to the Closing, and subject to the provisions of Section 2.3(d) below, the number of outstanding shares of Common Stock is increased
by a stock dividend payable in shares of Common Stock, or by a split-up of shares of Common Stock, or other similar event, then,
on the effective date of such stock dividend, split-up or similar event, the number of Shares to be purchased in the Closing shall
be increased in proportion to such increase in outstanding shares of Common Stock.

 

(b) If after the date hereof, and subject
to the provisions of Section 2.3(d) below, the number of outstanding shares of Common Stock is decreased by a consolidation, combination,
reverse stock split or reclassification of shares of Common Stock or other similar event, then, on the effective date of such consolidation,
combination, reverse stock split, reclassification or similar event, the number of Shares to be purchased in the Closing shall
be decreased in proportion to such decrease in outstanding shares of Common Stock.

 

(c) Upon the occurrence
of any event specified in Sections 2.3(a) or 2.3(b), then, in any such event, the Company shall give written notice to the Buyer,
of the record date or the effective date of the event. Failure to give such notice, or any defect therein, shall not affect the
legality or validity of such event.

 

(d) If, by reason of any adjustment made
pursuant to this Section 2.3, any of the Shares to be purchased pursuant to this Agreement shall include a fractional interest
in a Share, the number of Shares to be purchased pursuant to this Agreement shall be rounded up or down to the nearest whole number.

 

Section 2.4 Closing. The closing
of the purchase and sale of the Firm Shares (the “Initial Closing”) shall be held at the offices of Skadden,
Arps, Slate, Meagher & Flom LLP, 525 University Avenue, Suite 1400, Palo Alto, California 94301, or such other place as may
be agreed upon by the Parties hereto, concurrently with the closing of the IPO on the day on which the IPO closes (the “Initial
Closing Date”). The closing of the purchase and sale of the Option Shares (the “Option Closing”
and each a “Closing”) shall be held at the offices of Skadden, Arps, Slate, Meagher & Flom LLP, 525
University Avenue, Suite 1400, Palo Alto, California 94301, or such other place as may be agreed upon by the Parties hereto, on
the Option Closing Date.

 

    	 

    	 

    

 

Section 2.5 Closing Deliveries.
All actions taken at the Closing shall be deemed to have been taken simultaneously.

 

(a) Buyer Deliveries.
At the Closing, Buyer shall deliver to the Company the Purchase Price and, if applicable, any counterpart signature pages to this
Agreement executed by any Permitted Assignees pursuant to Section 5.1 hereof.

 

(b) Company Deliveries.
At the Closing, the Company shall deliver to Buyer and, if applicable, any Permitted Assignees, the certificates representing the
Firm Shares or the Option Shares, as applicable.

 

Section 2.6 Conditions Precedent to
the Obligations of Buyer and the Company. Each of Buyer’s and the Company’s obligation to consummate the Closing
is subject to the Company’s consummation of the IPO.

 

Section 2.7 Further Assurances.
The Parties hereto shall execute and deliver such additional documents and take such additional actions as any party reasonably
may deem to be practical and necessary in order to consummate the transactions contemplated by this Agreement.

 

ARTICLE III

REPRESENTATIONS AND WARRANTIES OF THE
BUYER

 

Buyer represents and warrants to the Company
that the statements contained in this ARTICLE III are correct and complete as of the date of this Agreement.

 

Section 3.1 Investment Representations.
In connection with the purchase of the Shares, Buyer represents to the Company the following:

 

(a) Buyer has been furnished
with all materials relating to the Company’s business affairs and financial condition and materials related to the offer
and sale of the Shares that have been requested by Buyer and has acquired sufficient information about the Company to reach an
informed and knowledgeable decision to acquire the Shares. Buyer has been afforded the opportunity to ask questions of the executive
officer and directors of the Company. Buyer understands that its investment in the Shares involves a high degree of risk. Buyer
has sought such accounting, legal and tax advice as Buyer has considered necessary to make an informed investment decision with
respect to Buyer’s acquisition of the Shares. Buyer has such knowledge and expertise in financial and business matters, knows
of the high degree of risk associated with investments generally and particularly investments in the securities of companies in
the development stage such as the Company, is capable of evaluating the merits and risks of an investment in the Shares, and is
able to bear the economic risk of an investment in the Shares in the amount contemplated hereunder. Buyer has adequate means of
providing for its current financial needs and contingencies and will have no current or anticipated future needs for liquidity
which would be jeopardized by the investment in the Shares. Buyer is purchasing the Shares for investment for Buyer’s own
account only and not with a view to, or for resale in connection with, any “distribution” thereof within the meaning
of the Securities Act. Buyer understands that the Company is a blank check development stage company recently formed for the purpose
of consummating the Business Combination and understands that there is no assurance as to the future performance of the Company
and that the Company may never effectuate the Business Combination.

 

(b) Buyer understands that
the Shares have not been registered under the Securities Act or any state securities law by reason of a specific exemption therefrom,
and that the Company is relying on the truth and accuracy of, and Buyer’s compliance with, the representations and warranties
and agreements of Buyer set forth herein to determine the availability of such exemptions and the eligibility of Buyer to acquire
such Shares, including, but not limited to, the bona fide nature of Buyer’s investment intent as expressed herein.

 

(c) Buyer further acknowledges
and understands that the Shares must be held indefinitely unless the Shares are subsequently registered under the Securities Act
or an exemption from such registration is available. Buyer understands that the certificates evidencing the Shares will be imprinted
with a legend which prohibits the transfer of the Shares (i) unless the Shares are registered or such registration is not required
in the opinion of counsel for the Company and (ii) until 30 days after the completion of the Business Combination.

 

    	 

    	 

    

 

(d) Buyer is familiar with
the provisions of Rule 144 under the Securities Act, as in effect from time to time (“Rule 144”),
which, in substance, permit limited public resale of “restricted securities” acquired, directly or indirectly, from
the issuer thereof (or from an affiliate of such issuer), in a non-public offering subject to the satisfaction of certain conditions.
Unless the Company registers the Shares under the Securities Act, the Shares may be resold by Buyer only in certain limited circumstances
subject to the provisions of Rule 144, which requires, among other things: (i) the availability of certain public information about
the Company and (ii) the resale occurring following the required holding period under Rule 144 after Buyer has purchased, and made
full payment of (within the meaning of Rule 144), the securities to be sold.

 

(e) Buyer further understands
that at the time Buyer wishes to sell the Shares there may be no public market upon which to make such a sale, and that, even if
such a public market then exists, the Company may not be satisfying the current public information requirements of Rule 144, and
that, in such event, Buyer would be precluded from selling the Shares under Rule 144 even if the minimum holding period requirement
had been satisfied. Notwithstanding Sections 3.1(d) and (e) hereof, Buyer understands that it may be considered a promoter of the
Company and understands that it is the position of the SEC that promoters or affiliates of a blank check company and their transferees,
both before and after the Business Combination, would act as an “underwriter” under the Act when reselling the securities
of a blank check company. Accordingly, the SEC believes that those securities can be resold only through a registered offering
and that Rule 144 would not be available for those resale transactions despite technical compliance with the requirements of Rule
144.

 

(f) Buyer represents that Buyer
is an “accredited investor” as that term is defined in Rule 501 of Regulation D promulgated by the SEC under the Securities
Act.

 

(g) Buyer has all necessary
power and authority to enter into this Agreement and to consummate the transactions contemplated hereby. This Agreement has been
duly executed and delivered by Buyer. Subject to the terms and conditions of this Agreement, this Agreement constitutes the valid,
binding and enforceable obligation of Buyer, enforceable in accordance with its terms, except as enforceability may be limited
by (i) applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer or similar laws of general application
now or hereafter in effect affecting the rights and remedies of creditors and by general principles of equity (regardless of whether
enforcement is sought in a proceeding at law or in equity); and (ii) the applicability of the federal and state securities laws
and public policy as to the enforceability of the indemnification provisions of this Agreement. The purchase by Buyer of the Shares
does not conflict with any material contract by which Buyer or its property is bound, or any laws or regulations or decree, ruling
or judgment of any court applicable to Buyer or its property. The principal place of business of Buyer is as set forth on the signature
page hereto.

 

(h) Buyer did not decide to
enter into this Agreement as a result of any general solicitation or general advertising within the meaning of Rule 502(c) of the
Securities Act.

  

ARTICLE IV

REPRESENTATIONS AND WARRANTIES OF THE
COMPANY

 

Section 4.1 Company Representations
and Warranties. The Company hereby represents and warrants to Buyer that the Company has all necessary corporate power and
authority to enter into this Agreement and to consummate the transactions contemplated hereby. All corporate action necessary to
be taken by the Company to authorize the execution, delivery and performance of this Agreement and all other agreements and instruments
delivered by the Company in connection with the transactions contemplated hereby has been duly and validly taken and this Agreement
has been duly executed and delivered by the Company. Subject to the terms and conditions of this Agreement, this Agreement constitutes
the valid, binding and enforceable obligation of the Company, enforceable in accordance with its terms, except as enforceability
may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer or similar laws of general
application now or hereafter in effect affecting the rights and remedies of creditors and by general principles of equity (regardless
of whether enforcement is sought in a proceeding at law or in equity); and (ii) the applicability of the federal and state securities
laws and public policy as to the enforceability of the indemnification provisions of this Agreement. The sale by the Company of
the Shares does not conflict with the amended and restated certificate of incorporation or by-laws of the Company or any material
contract by which the Company or its property is bound, or any federal or state laws or regulations or decree, ruling or judgment
of any United States or state court applicable to the Company or its property.

 

Section 4.2 Power and Authority; Enforceability.
This Agreement constitutes the legal, valid, and binding obligation of the Company, enforceable against the Company in accordance
with its terms. The Company has full power and authority to execute and deliver this Agreement and to perform its obligations hereunder.
The Company has taken all actions necessary to authorize the execution and delivery of this Agreement, the performance of its obligations
hereunder, and the consummation of the transactions contemplated hereby. This Agreement has been duly authorized, executed, and
delivered by, and is enforceable against, the Company.

 

    	 

    	 

    

 

Section 4.3 No Violation; Necessary
Approvals. Neither the execution and delivery of this Agreement by the Company, nor the consummation or performance by the
Company of any of transactions contemplated hereby, will: (a) with or without notice or lapse of time, constitute, create or result
in a breach or violation of, default under, loss of benefit or right under or acceleration of performance of any obligation required
under any Law, Order, contract or Permit to which the Company is a party or by which it is bound or any of its assets are subject,
or any provision of the Company’s organizational documents as in effect on the Closing Date, (b) result in the imposition
of any Lien, claim or encumbrance upon any assets owned by the Company; (c) require any Consent under any contract or organizational
document to which the Company is a party or by which it is bound; or (d) require any Permit under any Law or Order other than (i)
required filings, if any, with the SEC and (ii) notifications or other filings with state or federal regulatory agencies after
the Closing that are necessary or convenient and do not require approval of the agency as a condition to the validity of the transactions
contemplated hereunder; or (e) trigger any rights of first refusal, preferential purchase or similar rights with respect to any
of the Shares.

 

ARTICLE V

ASSIGNMENT AND TRANSFER

 

Section 5.1 Assignment by Buyer.
Notwithstanding anything herein to the contrary, from the date hereof until the Closing Date, Buyer may assign to any of its affiliates
(collectively, the “Permitted Assignees”), the right to purchase any portion of the Shares (the “Assigned
Shares”). In the event of such an assignment, such Permitted Assignees will assume Buyer’s obligations under
this Agreement in regards to the Assigned Shares. Each Permitted Assignee will pay to the Company at the Closing an amount equal
to the product of the Per Share Price and the number of Assigned Shares to be purchased by such Permitted Assignee, and will be
bound by the restrictions imposed on the Assigned Shares by this Agreement, including the restrictions set forth in Section
5.2 hereof. Each Permitted Assignee will execute a counterpart signature page to this Agreement, agreeing to be bound by the
provisions of this ARTICLE V. At the Closing, the Company will deliver to such Permitted Assignees the certificates representing
the Assigned Shares.

 

Section 5.2 Transfer Restrictions.

 

(a) Buyer shall not sell, offer
to sell, contract or agree to sell, assign, hypothecate, pledge, donate, encumber, grant any option to purchase or otherwise dispose
of any interest in the Shares until after 30 days from the consummation of the Business Combination (the “Lockup Period”)
..

 

(b) Notwithstanding the foregoing,
Buyer may transfer any of the Shares (i) to any member of Buyer (the “Member”), (ii) by gift to a member
of the Member’s immediate family for estate planning purposes or to a trust, the beneficiary of which is the Buyer or a member
of the Member’s immediate family, (iii) if the Member is not a natural person, by gift to a member of the immediate family
of such Member’s controlling person for estate planning purposes or to a trust, the beneficiary of which is such Buyer’s
controlling person or a member of the immediate family of such Member’s controlling person, (iv) by virtue of the laws of
descent and distribution upon death of the Member, or (v) pursuant to a qualified domestic relations order; provided, however,
that such permitted transfers may be implemented only upon the respective transferee’s written agreement to be bound by the
terms and conditions of this Agreement and of the Insider Letter signed by such Buyer transferring such Shares and such other documents
as the Company may reasonably require. During the Lockup Period, no Buyer shall pledge or grant a security interest in such Buyer’s
Shares or grant a security interest in such Buyer’s rights under this Agreement.

 

ARTICLE VI 

MISCELLANEOUS

 

Section 6.1 Notices. All notices
required or permitted hereunder shall be in writing and shall be deemed effectively given: (i) upon personal delivery to the party
to be notified, (ii) when sent by confirmed facsimile if sent during normal business hours of the recipient, and if not during
normal business hours of the recipient, then on the next business day, (iii) five calendar days after having been sent by registered
or certified mail, return receipt requested, postage prepaid, (iv) when sent by email with confirmation of receipt from the party
to be notified or (v) one business day after deposit with a nationally recognized overnight courier, specifying next day delivery,
with written verification of receipt. All communications shall be sent to a party hereto at such party’s address hereinafter
set forth on the signature page hereof.

 

    	 

    	 

    

 

Section 6.2 Successors and Assigns.
This Agreement shall inure to the benefit of the successors and assigns of the Company and, subject to the restrictions on transfer
herein set forth, shall be binding upon Buyer and Buyer’s successors and assigns.

 

Section 6.3 Attorneys’ Fees; Specific
Performance. Buyer shall reimburse the Company for all costs incurred by the Company in enforcing the performance of, or protecting
its rights under, any part of this Agreement, including reasonable costs of investigation and attorneys’ fees.

 

Section 6.4 Governing Law; Venue. This
Letter Agreement shall be governed by, and construed in accordance with, the laws of the State of New York applicable to contracts
executed in and to be performed in that State, including, without limitation, Sections 5-1401 and 5-1402 of the New York General
Obligations Law and the New York Civil Practice Laws and Rules 327(b). Each of the Company and the undersigned hereby (i) agrees
that any action, proceeding or claim against him or it arising out of or relating in any way to this letter agreement shall be
brought and enforced in the courts of the State of New York or the United States District Court for the Southern District of New
York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive and (ii) waives any objection to such
exclusive jurisdiction and that such courts represent an inconvenient forum.

 

Section 6.5 Further Execution. The
Parties agree to take all such further action(s) as may reasonably be necessary to carry out and consummate this Agreement as soon
as practicable, and to take whatever steps may be necessary to obtain any governmental approval in connection with or otherwise
qualify the issuance of the securities that are the subject of this Agreement.

 

Section 6.6 Independent Counsel.
Buyer acknowledges that this Agreement has been prepared on behalf of the Company by Skadden, Arps, Slate, Meagher & Flom LLP,
counsel to the Company and that Skadden, Arps, Slate, Meagher & Flom LLP does not represent, and is not acting on behalf of,
Buyer. Buyer has been provided with an opportunity to consult with Buyer’s own counsel with respect to this Agreement.

 

Section 6.7 Entire Agreement; Amendment.
This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes and
merges all prior agreements or understandings, whether written or oral. This Agreement may not be amended, modified or revoked,
in whole or in part, except by an agreement in writing signed by each of the Parties hereto.

 

Section 6.8 Severability. If one
or more provisions of this Agreement are held to be unenforceable under applicable law, the Parties agree to renegotiate such provision
in good faith. In the event that the Parties cannot reach a mutually agreeable and enforceable replacement for such provision,
then (i) such provision shall be excluded from this Agreement, (ii) the balance of the Agreement shall be interpreted as if such
provision were so excluded and (iii) the balance of the Agreement shall be enforceable in accordance with its terms.

 

Section 6.9 Counterparts. This Agreement
may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall constitute
one instrument. This Agreement or any counterpart may be executed via facsimile or electronic mail transmission, and any such executed
facsimile or electronic mail copy shall be treated as an original.

 

Section 6.10 Survival. The representations
and warranties contained herein will survive the delivery of, and the payment for, the Shares.

 

Section 6.11 Waiver of Jury Trial.
Each party hereto hereby irrevocably and unconditionally waives the right to a trial by jury in any action, suit, counterclaim
or other proceeding (whether based on contract, tort or otherwise) arising out of, connected with or relating to this Agreement,
the transactions contemplated hereby, or the actions of Purchaser in the negotiation, administration, performance or enforcement
hereof.

 

[Signature page follows]

 

    	 

    	 

    

 

IN WITNESS WHEREOF, the undersigned
have executed this Agreement to be effective as of the date first set forth above.

 

[Signature Page to Private Placement
Purchase Agreement]

 

	 	COMPANY:
	 	 
	 	GLOBAL DEFENSE & NATIONAL SECURITY SYSTEMS,
	 	INC.
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 
	 	Address:
	 	11921 Freedom Drive, Suite 550
	 	Two Fountain Square
	 	Reston, Virginia 20190
	 	 
	 	 
	 	BUYER:
	 	 
	 	GLOBAL DEFENSE & NATIONAL SECURITY HOLDINGS
	 	LLC
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 
	 	Address:
	 	11921 Freedom Drive, Suite 550
	 	Two Fountain Square
	 	Reston, Virginia 20190

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