Document:

Exhibit 10.3

 

 

April 29, 2020

ASADUZ ZAMAN KHAN

SYSOREX GOVERNMENT SERVICES

 

		RE:	GCF RESOURCES LLC

Remaining Balance of purchased amount

 

Dear Attn: SYSOREX GOVERNMENT SERVICES, INC.

 

Pursuant to your request, we would like to let you know the
following. The settlement balance, as of the date above, of the amount purchased from SYSOREX GOVERNMENT SERVICES, INC. by GCF
RESOURCES LLC has been paid in full and this account is now closed.

 

If you need any further information regarding your account,
please do not hesitate to contact us at 516-667-0792.

 

Sincerely,

 

Mendy LevinExhibit 10.5

 

AMENDMENT #2 TO CONVERTIBLE PROMISSORY NOTE

 

This
Amendment #2 to Convertible Promissory Note (this “Amendment”) is entered into as of April 23, 2020, by and
between Chicago Venture Partners, L.P., a Utah limited partnership (“Lender”),
and Sysorex, Inc., a Nevada corporation (“Borrower”). Capitalized
terms used in this Amendment without definition shall have the meanings given to them in the Note (as defined below).

 

A. 
Borrower previously issued to Lender a Convertible Promissory Note dated December 31, 2018 in the principal amount of $625,000.00
(the “Note”).

 

B. 
Effective as of December 31, 2019, Borrower and Lender entered into that certain Amendment to Convertible Promissory Note
(the “Prior Amendment”), pursuant to which, among other modifications, Borrower and Lender agreed to extend
the Maturity Date of the Note.

 

C. 
Borrower has requested that Lender again extend the Maturity Date of the Note (the “Extension”).

 

D. 
Lender has agreed, subject to the terms, amendments, conditions and understandings expressed in this Amendment, to grant
the Extension.

 

NOW, THEREFORE, for good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

 

1. 
Recitals. Each of the parties hereto acknowledges and agrees that the recitals set forth above in this Amendment
are true and accurate and are hereby incorporated into and made a part of this Amendment.

 

 2. Extension. The Maturity Date for the Note is hereby extended until June 30, 2020.

 

3. 
Extension Fee. In consideration of Lender’s grant of the Extension, its fees incurred in preparing this Amendment
and other accommodations set forth herein, Borrower agrees to pay to Lender an extension fee in the amount of $21,546.12 (the “Extension
Fee”). The Extension Fee is hereby added to the Outstanding Balance of the Note as of the date of this Amendment. Lender
and Borrower further agree that the Extension Fee is deemed to be fully earned as of the date hereof, is nonrefundable under any
circumstance, and that the Extension Fee tacks back to the date of the Note for Rule 144 purposes. Borrower represents and warrants
that as of the date hereof the Outstanding Balance of the Note, following the application of the Extension Fee, is $739,949.50.

 

     

     

    

 

4. 
Representations and Warranties. In order to induce Lender to enter into this Amendment, Borrower, for itself, and
for its affiliates, successors and assigns, hereby acknowledges, represents, warrants and agrees as follows:

 

(a) 
Borrower has full power and authority to enter into this Amendment and to incur and perform all obligations and covenants
contained herein, all of which have been duly authorized by all proper and necessary action. No consent, approval, filing or registration
with or notice to any governmental authority is required as a condition to the validity of this Amendment or the performance of
any of the obligations of Borrower hereunder.

 

(b) 
There is no fact known to Borrower or which should be known to Borrower which Borrower has not disclosed to Lender on or
prior to the date of this Amendment which would or could materially and adversely affect the understanding of Lender expressed
in this Amendment or any representation, warranty, or recital contained in this Amendment.

 

(c) 
Except as expressly set forth in this Amendment, Borrower acknowledges and agrees that neither the execution and delivery
of this Amendment nor any of the terms, provisions, covenants, or agreements contained in this Amendment shall in any manner release,
impair, lessen, modify, waive, or otherwise affect the liability and obligations of Borrower under the terms of the Transaction
Documents.

 

(d) 
Borrower has no defenses, affirmative or otherwise, rights of setoff, rights of recoupment, claims, counterclaims, actions
or causes of action of any kind or nature whatsoever against Lender, directly or indirectly, arising out of, based upon, or in
any manner connected with, the transactions contemplated hereby, whether known or unknown, which occurred, existed, was taken,
permitted, or begun prior to the execution of this Amendment and occurred, existed, was taken, permitted or begun in accordance
with, pursuant to, or by virtue of any of the terms or conditions of the Transaction Documents. To the extent any such defenses,
affirmative or otherwise, rights of setoff, rights of recoupment, claims, counterclaims, actions or causes of action exist or existed,
such defenses, rights, claims, counterclaims, actions and causes of action are hereby waived, discharged and released. Borrower
hereby acknowledges and agrees that the execution of this Amendment by Lender shall not constitute an acknowledgment of or admission
by Lender of the existence of any claims or of liability for any matter or precedent upon which any claim or liability may be asserted.

 

(e) 
Borrower represents and warrants that as of the date hereof no Events of Default or other material breaches exist under
the Transaction Documents or have occurred prior to the date hereof.

 

5. 
Certain Acknowledgments. Each of the parties acknowledges and agrees that no property or cash consideration of any
kind whatsoever has been or shall be given by Lender to Borrower in connection with the Extension or any other amendment to the
Note granted herein.

 

6. 
Other Terms Unchanged. The Note, as amended by this Amendment and the Prior Amendment, remains and continues in
full force and effect, constitutes legal, valid, and binding obligations of each of the parties, and is in all respects agreed
to, ratified, and confirmed. Any reference to the Note after the date of this Amendment is deemed to be a reference to the Note
as amended by this Amendment and the Prior Amendment. If there is a conflict between the terms of this Amendment and the Note,
the terms of this Amendment shall control. If there is a conflict between this Amendment and the Prior Amendment, the terms of
this Amendment shall control. No forbearance or waiver may be implied by this Amendment. Except as expressly set forth herein,
the execution, delivery, and performance of this Amendment shall not operate as a waiver of, or as an amendment to, any right,
power, or remedy of Lender under the Note, as in effect prior to the date hereof.

 

    2

     

    

 

7. 
No Reliance. Borrower acknowledges and agrees that neither Lender nor any of its officers, directors, members, managers,
equity holders, representatives or agents has made any representations or warranties to Borrower or any of its agents, representatives,
officers, directors, or employees except as expressly set forth in this Amendment and the Transaction Documents and, in making
its decision to enter into the transactions contemplated by this Amendment, Borrower is not relying on any representation, warranty,
covenant or promise of Lender or its officers, directors, members, managers, equity holders, agents or representatives other than
as set forth in this Amendment.

 

8. 
Counterparts. This Amendment may be executed in any number of counterparts, each of which shall be deemed an original,
but all of which together shall constitute one instrument. The parties hereto confirm that any electronic copy of another party’s
executed counterpart of this Amendment (or such party’s signature page thereof) will be deemed to be an executed original
thereof.

 

9. 
Further Assurances. Each party shall do and perform or cause to be done and performed, all such further acts and
things, and shall execute and deliver all such other agreements, certificates, instruments and documents, as the other party may
reasonably request in order to carry out the intent and accomplish the purposes of this Amendment and the consummation of the transactions
contemplated hereby.

 

[Remainder of page intentionally left blank]

 

    3

     

    

 

IN WITNESS WHEREOF, the undersigned
have executed this Amendment as of the date set forth above.

 

	 	LENDER:
	 	 
	 	Chicago Venture Partners,
    L.P.
	 	 
	 	By: 	Chicago Venture Management, L.L.C.,
	 	 	its General Partner
	 	 
	 	 	By: 	CVM, Inc., its Manager
	 	 
	 	 	 	By: 	/s/ John M. Fife
	 	 	 	 	John M. Fife, President
	 	 
	 	BORROWER:
	 	 
	 	Sysorex, Inc.
	 	 
	 	By:	/s/ A.
    Zaman Khan
	 	Printed Name:  	A. Zaman Khan
	 	Title: 	CEO

 

 

[Signature Page to Amendment #2 to Convertible Promissory
Note]

 

4EX-10.8

 Exhibit 10.8 

Execution Version 

AMENDMENT NO. 2, dated as of May 13, 2020 (this “Amendment”), to the NAC FOUNDER SUPPORT AGREEMENT, dated as of
January 5, 2020 (as amended by that certain Amendment No. 1, dated as of March 18, 2020, the “Agreement”), by and among Nebula Acquisition Corp., a Delaware corporation (“NAC”), Nebula Parent Corp., a
Delaware corporation, Open Lending, LLC, a Texas limited liability company, and each of the stockholders of NAC whose names appear on the signature pages of the Agreement. Unless otherwise defined herein, capitalized terms are used herein as defined
in the Agreement. 
 WITNESSETH: 

WHEREAS, the parties have entered into the Agreement; and 

WHEREAS, the parties wish to amend the Agreement as set forth in this Amendment. 

NOW, THEREFORE, in consideration of the rights and obligations contained herein, and for other good and valuable consideration, the adequacy
of which is hereby acknowledged, the parties agree as follows: 
 Section 1.    Amendments the Agreement.

 (A). Section 5 of the Agreement is hereby deleted in its entirety and replaced with the following: 

“5. Earn-Out Consideration. 

(a)    The Sponsor, the Company and NAC hereby agree that following the Closing, in addition to the consideration to be
received pursuant to the BCA, ParentCo shall be required to issue to the Sponsor additional ParentCo Common Shares as follows: 

(i)    Six Hundred Twenty Five Thousand (625,000) ParentCo Common Shares, in the aggregate, if any time
prior to or as of the second anniversary of the Closing (the “First Deadline”) the VWAP is greater than or equal to Twelve Dollars ($12.00) over any twenty (20) trading days within any thirty (30) trading day period (the
“First Earn-Out Target”) (such 625,000 ParentCo Common Shares, the “First Level Earn-Out Consideration”). 

(ii)    Six Hundred Twenty Five Thousand (625,000) ParentCo Common Shares, in the aggregate, if any time
prior to or as of the date that is thirty (30) months after Closing (the “Second Deadline”) the VWAP is greater than or equal to Fourteen Dollars ($14.00) over any twenty (20) trading days within any thirty
(30) trading day period (the “Second Earn-Out Target”, and, together with the First Earn-Out Target, the
“Earn-Out Targets”) (such 625,000 ParentCo Common Shares, the “Second Level Earn-Out Consideration” and together with the First Level Earn-Out Consideration, the “Earn-Out Consideration”). For the avoidance of doubt, each of the First Level Earn-Out
Consideration and Second Level Earn-Out Consideration is issuable only once in accordance with the terms of this Section 5(a) and the maximum amount of
Earn-Out Consideration is 1,250,000 ParentCo Common Shares, in the aggregate.  

 (b)    If any of the Earn-Out
Targets set forth in Section 5(a) shall have been achieved, within five (5) Business Days following the achievement of the applicable Earn-Out Target, ParentCo shall issue the
applicable Earn-Out Consideration to the Sponsor. 
 (c)    If a Change of
Control of ParentCo occurs (i) prior to the First Deadline, then the full Earn-Out Consideration issuable pursuant to Section 5(a) that remains unissued as of immediately prior
to the consummation of such Change of Control shall immediately vest and the Sponsor shall be entitled to receive such Earn-Out Consideration prior to the consummation of such Change of Control and
(ii) after the First Deadline but prior to the Second Deadline, then the Second Level Earn-Out Consideration issuable pursuant to Section 5(a) that remains unissued as of
immediately prior to the consummation of such Change of Control shall immediately vest and the Sponsor shall be entitled to receive such Second Level Earn-Out Consideration prior to the consummation of such
Change of Control. By way of example, if a Change of Control of ParentCo shall occur after the First Deadline and before the Second Deadline, such Change of Control shall cause the Second Level Earn-Out
Consideration to vest and be payable by Parentco and the First Level Earn-Out Consideration (if not previously paid) shall not vest and will not be payable by ParentCo due to such Change of Control. 

(d)    The Earn-Out Consideration and the
Earn-Out Targets shall be adjusted to reflect appropriately the effect of any stock split, reverse stock split, stock dividend (including any dividend or distribution of securities convertible into ParentCo
Common Shares), reorganization, recapitalization, reclassification, combination, exchange of shares or other like change with respect to ParentCo Common Shares, occurring on or after the date hereof and prior to the time any such Earn-Out Consideration is delivered to Sponsor, if any.” 
 (B). Exhibit B of the Agreement is hereby deleted
in its entirety and replaced with the following: 
 “AMENDMENT TO THE LETTER AGREEMENT 

Effective as of the consummation of the transactions contemplated by the BCA, sub-paragraph (a) of paragraph 7 is
hereby deleted in its entirety and replaced with the following: 
 (a)    The Sponsor and each Insider agrees that it or
he shall not Transfer any Founder Shares (or, for all purposes of this Letter Agreement, shares of Common Stock issuable upon conversion thereof or shares of capital stock for which such Founder Shares may have been exchanged pursuant to the
Company’s initial Business Combination) except as follows: 
 (A) one half of such Founder Shares shall not have any
restrictions on Transfer under this Agreement six (6) months following completion of the Company’s initial Business Combination; 

(B) twenty five percent (25%) of such Founder Shares shall not have any restrictions on Transfer under this Agreement if, at
any time prior to or as of the seventh (7th) anniversary of the completion of the Company’s initial Business Combination, the daily volume weighted average price (the “VWAP”)
of the shares of Common Stock is greater than or equal to $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) over any twenty (20) trading days within any thirty (30) trading
day period; 

  
 2 

 (C) the remaining twenty five percent (25%) of such Founders Shares shall
not have any restrictions on Transfer under this Agreement if, at any time prior to or as of the seventh (7th) anniversary of the completion of the Company’s initial Business Combination, the
VWAP of the shares of Common Stock is greater than or equal to $14.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) over any twenty (20) trading days within any thirty
(30) trading day period; and 
 (D) notwithstanding clauses (B) and (C), all Founder Shares shall not have any
restrictions on Transfer under this Agreement on the date, if prior to or as of the seventh (7th) anniversary of the completion of the Company’s initial Business Combination, on which the
Company (or the successor to the Company pursuant to the Company’s initial Business Combination) undergoes a Change of Control (collectively, the “Founder Shares Lock-up Period”) 

Following the seventh (7th) anniversary of the completion of the Company’s initial Business Combination, the Sponsor and each Insider shall immediately
and, in any event within five (5) business days, forfeit and surrender to the Company (for no consideration), any Founder Shares which shall not have become freely Transferable pursuant to the provisions of clauses (A), (B), (C) or
(D) above. For purposes of this paragraph (a), “Change of Control” shall have the meaning specified in that certain Business Combination Agreement, dated as of January 5, 2020, among Nebula Acquisition Corp., Open Lending, LLC,
BRP Hold 11, Inc., Nebula Parent Corp., NBLA Merger Sub LLC, NBLA Merger Sub Corp. and certain other persons.” 

Section 2.    Parties in Interest. This Amendment shall be binding upon and inure solely to the benefit of
each party hereto, and nothing in this Amendment, express or implied, is intended to or shall confer upon any other person any right, benefit or remedy of any nature whatsoever under or by reason of this Amendment. No Founder shall be liable for the
breach by any other Founder of this Amendment. 
 Section 3.    Entire Agreement. This Amendment constitutes
the entire agreement among the parties with respect to the subject matter hereof and supersede all prior agreements and undertakings, both written and oral, among the parties, or any of them, with respect to the subject matter hereof. Except as
amended by this Amendment, the Agreement shall continue in full force and effect. 

Section 4.    Counterparts. This Amendment may be executed and delivered (including by facsimile or portable
document format (pdf) transmission) in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the
same agreement. 
 Section 5.    Governing Law. This Amendment shall be governed by, and construed in
accordance with, the laws of the State of Delaware applicable to contracts executed in and to be performed in that State. 

  
 3 

 [Signature Page Follows] 

  
 4 

 IN WITNESS WHEREOF the parties have hereunto caused this Amendment to be duly executed as of
the date first set forth above. 
  

	
	NEBULA ACQUISITION CORP.
	
	 /s/ Adam H. Clammer

	Name: Adam H. Clammer
	Title: Co-Chief Executive Officer
	
	NEBULA PARENT CORP.
	
	 /s/ Adam H. Clammer

	Name: Adam H. Clammer
	Title: President
	
	OPEN LENDING, LLC
	
	 /s/ Ross Jessup

	Name: Ross Jessup
	Title: CFO, COO and Secretary

  
 [Signature Page to
Amendment to Founder Support Agreement] 

 
			
	FOUNDERS:
	
	Nebula Holdings, LLC
		
	By:	 	 /s/ Adam H. Clammer

	Name: Adam H. Clammer
	Title: Managing Member
	
	Adam H. Clammer
	
	 /s/ Adam H. Clammer

	
	James H. Greene, Jr.
	
	 /s/ James H. Greene, Jr.

	
	Rufina Adams
	
	 /s/ Rufina Adams

	
	David Kerko
	
	 /s/ David Kerko

  
 [Signature Page to
Amendment to Founder Support Agreement] 

 
	
	James C. Hale
	
	 /s/ James C. Hale

	
	Ronald Lamb
	
	 /s/ Ronald Lamb

  
 [Signature Page to
Amendment to Founder Support Agreement]

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