Document:

EX-10.7

 Exhibit 10.7 

PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT 

THIS PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT, dated as of [●], 2020 (as it may from time to time be amended, this
“Agreement”), is entered into by and between Genesis Park Acquisition Corp., a Cayman Islands exempted company (the “Company”), and Jefferies LLC, a limited liability company formed under the laws of the State of
Delaware (the “Purchaser”). 
 WHEREAS, the Company intends to consummate a public offering of the Company’s
units (the “Public Offering”), each unit consisting of one Class A ordinary share of the Company, par value $0.0001 per share (a “Share”), and one-half of one redeemable
warrant, each whole warrant exercisable for one Share at an exercise price of $11.50 per Share, as set forth in the Company’s registration statement on Form S-1 related to the Public Offering (the
“Registration Statement”); 
 WHEREAS, the Purchaser has agreed to purchase from the Company an aggregate of 416,667
warrants (or up to 474,811 warrants if the over-allotment option in connection with the Public Offering is exercised in full) (the “Private Placement Warrants”), each Private Placement Warrant entitling the holder to purchase one
Share at an exercise price of $11.50 per Share; and 
 WHEREAS, concurrently with the execution of this Agreement, the Company is
entering into that certain Private Placement Warrants Purchase Agreement, dated as of the date hereof, with Genesis Park Holdings (the “Sponsor,” and such agreement, the “Sponsor Warrants Purchase Agreement”),
pursuant to which the Sponsor has agreed to purchase an aggregate of 6,833,333 warrants (or up to 7,562,689 warrants if the over-allotment option in connection with the Public Offering is exercised in full) (the “Sponsor Warrants”).

 NOW THEREFORE, in consideration of the mutual promises contained in this Agreement and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby, intending legally to be bound, agree as follows: 

AGREEMENT 

Section 1.    Authorization, Purchase and Sale; Terms of the Private Placement Warrants. 

A.    Authorization of the Private Placement Warrants. The Company has duly authorized the issuance and sale of the
Private Placement Warrants to the Purchaser. 
 B.    Purchase and Sale of the Private Placement Warrants. 

(i)    As payment in full for the 416,667 Private Placement Warrants being purchased under this Agreement, the Purchaser
shall pay $416,667 (the “Purchase Price”), by wire transfer of immediately available funds or by such other method as may be reasonably acceptable to the Company, to the trust account (the “Trust Account”) at a
financial institution to be chosen by the Company, maintained by Continental Stock Transfer & Trust Company, acting as trustee, at least one (1) business day prior to the date of effectiveness of the Registration Statement. 

(ii)    In the event that the over-allotment option is exercised in full or in part, the Purchaser shall purchase up to
58,144 additional Private Placement Warrants (the “Additional Private Placement Warrants”), in the same proportion as the amount of the over-allotment option that is exercised, and simultaneously with such purchase of Additional
Private Placement Warrants, as payment in full for the Additional Private Placement Warrants being purchased hereunder, and at least one (1) business day prior to the closing of all or any portion of the over-allotment option, the Purchaser
shall pay $1.00 per Additional 

 
Private Placement Warrant, up to an aggregate amount of $58,144, by wire transfer of immediately available funds or by such other method as may be reasonably acceptable to the Company, to the
Trust Account. 
 (iii)    The closing of the purchase and sale of the Private Placement Warrants shall take place
simultaneously with the closing of the Public Offering (the “Initial Closing Date”). The closing of the purchase and sale of the Additional Private Placement Warrants, if applicable, shall take place simultaneously with the closing
of all or any portion of the over-allotment option (such closing date, together with the Initial Closing Date, the “Closing Dates” and each, a “Closing Date”). The closing of the purchase and sale of each of the
Private Placement Warrants and the Additional Private Placement Warrants shall take place at the offices of Willkie Farr & Gallagher LLP, 787 Seventh Avenue, New York, New York, 10019, or such other place as may be agreed upon by the
parties hereto. 
 C.    Terms of the Private Placement Warrants. 

(i)    The Private Placement Warrants shall have their terms set forth in a Warrant Agreement to be entered into by the
Company and a warrant agent, in connection with the Public Offering (a “Warrant Agreement”). 

(ii)    At or prior to the time of the Initial Closing Date, the Company and the Purchaser shall enter into a registration
rights agreement (the “Registration Rights Agreement”) pursuant to which the Company will grant certain registration rights to the Purchaser relating to the Private Placement Warrants and the Shares underlying the Private Placement
Warrants. 
 Section 2.    Representations and Warranties of the Company. As a material inducement to
the Purchaser to enter into this Agreement and purchase the Private Placement Warrants, the Company hereby represents and warrants to the Purchaser (which representations and warranties shall survive the Closing Dates) that: 

A.    Incorporation and Corporate Power. The Company is an exempted company duly incorporated, validly existing and
in good standing under the laws of the Cayman Islands and is qualified to do business in every jurisdiction in which the failure to so qualify would reasonably be expected to have a material adverse effect on the financial condition, operating
results or assets of the Company. The Company possesses all requisite corporate power and authority necessary to carry out the transactions contemplated by this Agreement and the Warrant Agreement. 

B.    Authorization; No Breach. 

(i)    The execution, delivery and performance of this Agreement and the Private Placement Warrants have been duly
authorized by the Company as of the Closing Dates. This Agreement constitutes a valid and binding obligation of the Company, enforceable in accordance with its terms. Upon issuance in accordance with, and payment pursuant to, the terms of the
Warrant Agreement and this Agreement, the Private Placement Warrants will constitute valid and binding obligations of the Company, enforceable in accordance with their terms as of the Closing Dates. 

(ii)    The execution and delivery by the Company of this Agreement and the Private Placement Warrants, the issuance and
sale of the Private Placement Warrants, the issuance of the Shares upon exercise of the Private Placement Warrants and the fulfillment of, and compliance with, the respective terms hereof and thereof by the Company, do not and will not as of the
Closing Dates (a) conflict with or result in a breach of the terms, conditions or provisions of, (b) constitute a default under, (c) result in the creation of any lien, security interest, charge or encumbrance upon the Company’s
shares or assets under, (d) result in 

  
 2 

 
a violation of, or (e) require any authorization, consent, approval, exemption or other action by or notice or declaration to, or filing with, any court or administrative or governmental
body or agency pursuant to the amended and restated memorandum and articles of association of the Company (in effect on the date hereof or as may be amended prior to completion of the contemplated Public Offering), or any material law, statute, rule
or regulation to which the Company is subject, or any agreement, order, judgment or decree to which the Company is subject, except for any filings required after the date hereof under federal or state securities laws. 

C.    Title to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the
Warrant Agreement, the Private Placement Warrants will be duly and validly issued and the Shares issuable upon exercise of the Private Placement Warrants will be duly and validly issued, fully paid and
non-assessable. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement and the amended and restated memorandum and articles of association of the Company, the
Purchaser will have good title to the Private Placement Warrants and the Shares issuable upon exercise of such Private Placement Warrants, free and clear of all liens, claims and encumbrances of any kind, other than (i) transfer restrictions
hereunder and under the other agreements contemplated hereby, (ii) transfer restrictions under federal and state securities laws, and (iii) liens, claims or encumbrances imposed due to the actions of the Purchaser. 

D.    Governmental Consents. No permit, consent, approval or authorization of, or declaration to or filing with,
any governmental authority is required in connection with the execution, delivery and performance by the Company of this Agreement or the consummation by the Company of any other transactions contemplated hereby. 

E.    Additional Representations and Warranties. The representations and warranties of the Company set forth in
Section 1 of that certain Underwriting Agreement, dated as of the date hereof, by and between the Company and the Purchaser, as representative of the underwriters named therein (the “Underwriting Agreement”), are hereby
incorporated herein. 
 Section 3.    Representations and Warranties of the Purchaser. As a material
inducement to the Company to enter into this Agreement and issue and sell the Private Placement Warrants to the Purchaser, the Purchaser hereby represents and warrants to the Company (which representations and warranties shall survive the Closing
Dates) that: 
 A.    Organization and Requisite Authority. The Purchaser possesses all requisite power and
authority necessary to carry out the transactions contemplated by this Agreement. 
 B.    Authorization; No
Breach. 
 (i)    This Agreement constitutes a valid and binding obligation of the Purchaser, enforceable in
accordance with its terms, subject to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general applicability relating to or affecting creditors’ rights and to general equitable principles (whether
considered in a proceeding in equity or law). 
 (ii)    The execution and delivery by the Purchaser of this Agreement
and the fulfillment of and compliance with the terms hereof by the Purchaser does not and shall not as of the Closing Dates conflict with or result in a breach by the Purchaser of the terms, conditions or provisions of any agreement, instrument,
order, judgment or decree to which the Purchaser is subject. 

  
 3 

 C.    Investment Representations. 

(i)    The Purchaser is acquiring its Private Placement Warrants and, upon exercise of such Private Placement Warrants,
the Shares issuable upon such exercise (collectively, the “Securities”), for the Purchaser’s own account, for investment purposes only and not with a view towards, or for resale in connection with, any public sale or
distribution thereof. 
 (ii)    The Purchaser is an “accredited investor” as such term is defined in Rule
501(a)(3) of Regulation D of the Securities Act of 1933, as amended (the “Securities Act”), and the Purchaser has not experienced a disqualifying event as enumerated pursuant to Rule 506(d) of Regulation D under the Securities Act.

 (iii)    The Purchaser understands that the Securities are being offered and will be sold to it in reliance on
specific exemptions from the registration requirements of the United States federal and state securities laws and that the Company is relying upon the truth and accuracy of, and the Purchaser’s compliance with, the representations and
warranties of the Purchaser set forth herein in order to determine the availability of such exemptions and the eligibility of the Purchaser to acquire such Securities. 

(iv)    The Purchaser did not enter into this Agreement as a result of any general solicitation or general advertising
within the meaning of
 Rule 502(c) under the Securities Act. 
 (v)    The Purchaser has been furnished with all
materials relating to the business, finances and operations of the Company and materials relating to the offer and sale of the Securities which have been requested by the Purchaser. The Purchaser has been afforded the opportunity to ask questions of
the executive officers and directors of the Company. The Purchaser understands that its investment in the Securities involves a high degree of risk and it has sought such accounting, legal and tax advice as it has considered necessary to make an
informed investment decision with respect to the acquisition of the Securities. 
 (vi)    The Purchaser understands
that no United States federal or state agency or any other government or governmental agency has passed on or made any recommendation or endorsement of the Securities or the fairness or suitability of the investment in the Securities by the
Purchaser nor have such authorities passed upon or endorsed the merits of the offering of the Securities. 

(vii)    The Purchaser understands that: (a) the Securities have not been and are not being registered under the
Securities Act or any state securities laws, and may not be offered for sale, sold, assigned or transferred unless (1) subsequently registered thereunder or (2) sold in reliance on an exemption therefrom; and (b) except as
specifically set forth in the Registration Rights Agreement, neither the Company nor any other person is under any obligation to register the Securities under the Securities Act or any state securities laws or to comply with the terms and conditions
of any exemption thereunder. While the Purchaser understands that Rule 144 under the Securities Act is not available for the resale of securities initially issued by shell companies (other than business combination related shell companies) or
issuers that have been at any time previously a shell company, the Purchaser understands that Rule 144 includes an exception to this prohibition if the following conditions are met: (i) the issuer of the securities that was formerly a shell
company has ceased to be a shell company; (ii) the issuer of the securities is subject to the reporting requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”); (iii) the
issuer of the securities has filed all Exchange Act reports and material required to be filed, as applicable, during the preceding 12 months (or such shorter period that the issuer was required to file such reports and materials), other than Form 8-K reports; and (iv) at least one year has elapsed from the time that the issuer filed current Form 10 type information with the SEC reflecting its status as an entity that is not a shell company. 

  
 4 

 (viii)    The Purchaser has such knowledge and experience in financial
and business matters, knowledge of the high degree of risk associated with 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 Securities and
is able to bear the economic risk of an investment in the Securities in the amount contemplated hereunder for an indefinite period of time. The Purchaser 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 Securities. The Purchaser can afford a complete loss of its investment in the Securities. 

Section 4.    Conditions of the Purchaser’s Obligations. The obligations of the Purchaser to
purchase and pay for the Private Placement Warrants are subject to the fulfillment, on or before the Closing Dates, of each of the following conditions: 

A.    Representations and Warranties. The representations and warranties of the Company contained in Section 2
shall be true and correct at and as of the Closing Dates as though then made. 
 B.    Performance. The Company
shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that are required to be performed or complied with by it on or before the Closing Dates. 

C.    No Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall
have been enacted, entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority over the matters contemplated hereby, which prohibits the consummation of
any of the transactions contemplated by this Agreement or the Warrant Agreement. 
 D.    Warrant Agreement and
Registration Rights Agreement. The Company shall have entered into a Warrant Agreement with a warrant agent (the “Warrant Agreement”) and the Registration Rights Agreement, each on terms satisfactory to the Purchaser. 

E.    Corporate Consents. The Company shall have obtained the consent of its Board of Directors authorizing the
execution, delivery and performance of this Agreement and the Warrant Agreement and the issuance and sale of the Private Placement Warrants hereunder. 

F.    Underwriting Agreement. The conditions set forth in Section 5 of the Underwriting Agreement shall have
been satisfied. 
 Section 5.    Conditions of the Company’s Obligations. The obligations of the
Company to the Purchaser under this Agreement are subject to the fulfillment, on or before the Closing Dates, of each of the following conditions: 

A.    Representations and Warranties. The representations and warranties of the Purchaser contained in
Section 3 shall be true and correct at and as of the Closing Dates as though then made. 

B.    Performance. The Purchaser shall have performed and complied with all agreements, obligations and conditions
contained in this Agreement that are required to be performed or complied with by the Purchaser on or before the Closing Dates. 

  
 5 

 C.    No Injunction. No litigation, statute, rule, regulation,
executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority over the matters
contemplated hereby, which prohibits the consummation of any of the transactions contemplated by this Agreement or the Warrant Agreement. 

D.    Warrant Agreement and Registration Rights Agreement. The Company shall have entered into the Warrant
Agreement and the Registration Rights Agreement. 
 E.    Corporate Consents. The Company shall have obtained the
consent of its Board of Directors authorizing the execution, delivery and performance of this Agreement and the Warrant Agreement and the issuance and sale of the Private Placement Warrants hereunder. 

F.    Purchase of Sponsor Warrants. The consummation of the applicable purchase of the Sponsor Warrants pursuant to
the Sponsor Warrants Purchase Agreement shall occur simultaneously with the consummation of the purchase hereunder. 
 Section
6.    Terms of the Private Placement Warrants. 
 A.    Business Combination Obligations.
The Purchaser hereby agrees that if the Company seeks shareholder approval of a proposed Business Combination, then in connection with such proposed Business Combination, it shall (i) vote any ordinary shares of the Company owned by it in favor
of such proposed Business Combination and (ii) not redeem any ordinary shares of the Company owned by it in connection with such shareholder approval. If the Company engages in a tender offer in connection with any proposed Business
Combination, the Purchaser agrees that it will not seek to sell its ordinary shares of the Company to the Company in connection with such tender offer. 

B.    Lock-Up Period. The Purchaser agrees that it will not Transfer any
Private Placement Warrants (or ordinary shares of the Company issued or issuable upon the exercise of the Private Placement Warrants) until 30 days after the completion of a Business Combination; provided, however, that Transfers of such
securities are permitted (a) to the Company’s officers or directors, any affiliates or family members of any of the Company’s officers or directors, any members of the Purchaser or any affiliates of the Purchaser; (b) in the case
of an individual, by gift to a member of such individual’s immediate family or to a trust, the beneficiary of which is a member of such individual’s immediate family, an affiliate of such individual or to a charitable organization;
(c) in the case of an individual, by virtue of laws of descent and distribution upon death of such individual; (d) in the case of an individual, pursuant to a qualified domestic relations order; (e) by private sales or transfers made
in connection with any forward purchase agreement or similar arrangement or in connection with the consummation of an initial Business Combination at prices no greater than the price at which the shares or warrants were originally purchased;
(f) in the event of the Company’s liquidation prior to the completion of an initial Business Combination; or (g) by virtue of the laws of the Cayman Islands or the organizational documents of the Purchaser upon dissolution of the
Purchaser; provided, however, that in the case of clauses (a) through (e) or (g), these permitted transferees must enter into a written agreement with the Company agreeing to be bound by the transfer restrictions herein and the other
restrictions contained in this Agreement and by the same agreements entered into by the Purchaser with respect to such securities (including provisions relating to voting, the Trust Account and liquidating distributions). 

C.    FINRA Requirements. The Purchaser acknowledges and agrees that the Private Placement Warrants and their
related registration rights will be deemed compensation by the Financial Industry Regulatory Authority (“FINRA”) and will therefore, pursuant to Rule 5110(g) of the FINRA Manual, be 

  
 6 

 
subject to a lock-up for a period of 180 days immediately following the date of effectiveness or commencement of sales in the Public Offering, subject to
certain limited exceptions to permitted transferees hereunder and in accordance with FINRA Rule 5110(g)(2). Additionally, the Private Placement Warrants may not be sold, transferred, assigned, pledged or hypothecated during the foregoing 180-day period following the effective date of the Registration Statement except to any underwriter or selected dealer participating in the Public Offering or the bona fide officers or partners of the Purchaser or
any such participating underwriter or selected dealer. Additionally, the Private Placement Warrants and their related registration right will not be the subject of any hedging, short sale, derivative, put or call transaction that would result in the
economic disposition of such securities by any person for a period of 180 days immediately following the date of effectiveness or commencement of sale in the Public Offering. 

Section 7.    Termination. This Agreement may be terminated at any time after March 31, 2021 upon
the election by either the Company or the Purchaser upon written notice to the other party if the closing of the Public Offering does not occur prior to such date. 

Section 8.    Survival of Representations and Warranties. All of the representations and warranties
contained herein shall survive the Closing Dates. 
 Section 9.    Definitions. Terms used but not
otherwise defined in this Agreement shall have the meaning assigned to such terms in the Registration Statement. As used herein, (i) “Business Combination” shall mean a merger, share exchange, asset acquisition, share purchase,
reorganization or similar business combination, involving the Company and one or more businesses; and (ii) “Transfer” shall mean the (a) sale or assignment of, offer to sell, contract or agreement to sell, hypothecate, pledge,
grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent position within the
meaning of Section 16 of the Exchange Act and the rules and regulations of the Commission promulgated thereunder with respect to, any security, (b) entry into any swap or other arrangement that transfers to another, in whole or in part,
any of the economic consequences of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (c) public announcement of any intention to effect any transaction specified
in clause (a) or (b). 
 Section 10.    Miscellaneous. 

A.    Successors and Assigns. Except as otherwise expressly provided herein, all covenants and agreements contained
in this Agreement by or on behalf of any of the parties hereto shall bind and inure to the benefit of the respective successors of the parties hereto whether so expressed or not. Notwithstanding the foregoing or anything to the contrary herein, the
parties may not assign this Agreement, other than assignments by the Purchaser to its affiliates. 

B.    Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to
be effective and valid under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without
invalidating the remainder of this Agreement. 
 C.    Counterparts. This Agreement may be executed
simultaneously in two or more counterparts, none of which need contain the signatures of more than one party, but all such counterparts taken together shall constitute one and the same agreement. In the event that any signature is delivered by
facsimile transmission or by e-mail delivery of a “pdf” format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is
executed) with the same force and effect as if such facsimile or “pdf” signature page were an original thereof. 

  
 7 

 D.    Descriptive Headings; Interpretation. The descriptive
headings of this Agreement are inserted for convenience only and do not constitute a substantive part of this Agreement. The use of the word “including” in this Agreement shall be by way of example rather than by limitation. 

E.    Governing Law. This Agreement shall be deemed to be a contract made under the laws of the State of Delaware
and for all purposes shall be construed in accordance with the internal laws of the State of Delaware. 

F.    Amendments. This Agreement may not be amended, modified or waived as to any particular provision, except by a
written instrument executed by all parties hereto. 
 G.    Waiver of Claims Against Trust Account. The Purchaser
acknowledges that the Company has established the Trust Account. The Purchaser agrees that (i) it has no right, title, interest or claim of any kind in or to any monies held in the Trust Account, and (ii) it shall have 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, in each case in connection with this Agreement, and hereby irrevocably waives any
Claim to, or to any monies in, the Trust Account that it may have in connection with this Agreement or otherwise. In the event the Purchaser has any Claim against the Company, the Purchaser shall pursue such Claim solely against the Company’s
assets outside the Trust Account and not against the property or any monies in the Trust Account. The Purchaser agrees and acknowledges that such waiver is material to this Agreement and has been specifically relied upon by the Company to induce the
Company to enter into this Agreement and the Purchaser further intends and understands such waiver to be valid, binding and enforceable under applicable law. In the event that the Purchaser commences any action or proceeding which seeks, in whole or
in part, relief against the funds held in the Trust Account or distributions therefrom or any of the Company’s shareholders, whether in the form of monetary damages or injunctive relief, the Purchaser shall be obligated to pay to the Company
all of its legal fees and costs in connection with any such action in the event that the Company prevails in such action or proceeding. 

[Signature Page Follows] 

  
 8 

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

			
	COMPANY:
	
	GENESIS PARK ACQUISITION CORP.

 
			
		
	By:	 	  

	Name:
	Title:

  

			
	PURCHASER:
	
	JEFFERIES LLC

			
		
	By:	 	  

	Name:
	Title:Impossible Aerospace - Consultant Agreement FORM (00178292-3).DOCX

CONSULTANT AGREEMENT

This CONSULTANT AGREEMENT (this “Agreement”) is entered into on November 13, 2020 by and between Impossible Aerospace Corporation, a Delaware corporation (“Company”), and the consultant named on the signature page hereto (“Consultant”).  Alpine 4 Technologies, Ltd., a Delaware corporation (“ALPP”) is a party hereto for certain limited purposes under the Agreement.   

WHEREAS, concurrent with the execution of this agreement, the Company, ALPP and other parties thereto are entering into a Merger Agreement (as it may be amended, modified or supplemented in accordance with its terms, the “Merger Agreement”); and

WHEREAS, following the closing of the transaction contemplated under the Merger Agreement (the “Closing”), the Company desires to have the services of Consultant as set forth in this Agreement.  

NOW, THEREFORE, for good and valuable consideration, the parties hereto agree as follows: 

1.THE SERVICES.  Subject to the terms of this Agreement, Company hereby engages Consultant to perform, and Consultant shall perform, such services (the “Services”) as specified in Exhibit A attached hereto, as amended from time to time in writing signed by Company and Consultant (the “Scope of Services”).  Spencer Gore shall perform the Services on behalf of Consultant.       

2.TERM; TERMINATION.   

2.1.Term.  This Agreement shall come into effect immediately following the Closing (the “Effective Date”) and will terminate automatically on the earlier of prior written notice by either party to the other of termination (“Termination Notice”) of the Services for any or no reason (subject to Section 2.3 below).     

2.2.Termination of Services for Cause or Good Reason.   

(a)“Cause” for the Company to terminate the Consultant’s Services hereunder shall mean the occurrence of any of the following events, as determined by the Board of Directors of the Company (the “Board”) or a committee designated by the Board in good faith.   

(i)The Consultant’s conviction of any felony or any crime involving moral turpitude or dishonesty; 

(ii)The Consultant’s participation in a fraud involving or against the Company; 

(iii)The Consultant’s willful and material breach of the Consultant’s duties hereunder that is not cured within thirty (30) days after the Consultant’s written notice from the Board of such a breach; or 

(iv)The Consultant’s intentional and material damage to the Company’s property.   

 

(b)“Good Reason” for the Consultant to terminate his or her Services hereunder shall mean the occurrence of any of the following events without the Consultant’s consent: 

(i)A material change in the geographic location at which the Consultant must perform his or her duties to a point that is located more than fifty (50) miles from the Consultant’s residence as set forth on the signature page hereto or, in the event that the Consultant elects to perform the services required by this agreement at any other business office established by the Company, a material change in the geographic location at which the Consultant must perform his or her duties to a point that is located more than fifty (50) miles from such business office; or 

(ii)The imposition of work requirements that are illegal or excessively hazardous.  

 

2.3.Termination Notice.  If either party gives a Termination Notice, then this Agreement will terminate one (1) week after the other party’s receipt of the Termination Notice; provided that if the Services are terminated by the Company without Cause or by Consultant for Good Reason, (i) the unpaid portion of the cash fee set forth on Exhibit A shall immediately become due and payable, and (ii) the time-based vesting of all of the Restricted Stock Units set forth in Exhibit A hereto will accelerate in full with respect to the Service-Based Requirement (as such term is defined in Exhibit A) effective immediately as of the date of such termination of the Services.   

2.4.Effect of Termination.  Termination of this Agreement will constitute termination of the consultancy services.  Notwithstanding the foregoing, Sections 2.3, 3 through 7, and Exhibit A of this Agreement will survive termination of this Agreement and Consultant, ALPP and the Company shall remain bound thereby. 

3.COMPENSATION; PAYMENTS; EXPENSES.   

3.1.Compensation.  Company will pay Consultant the cash fee and grant Spencer Gore the equity grants set forth in the Scope of Services as Consultant’s sole compensation for the Services.  Unless otherwise expressly provided in the Scope of Services, upon termination of this Agreement for any reason, Consultant will be paid fees for Services that have been completed or rendered.  Unless otherwise expressly provided in the Scope of Services, payment to Consultant of undisputed fees will be due thirty (30) days after Company’s receipt of an invoice that contains accurate records of the work performed sufficient to document the invoiced fees. 

3.2.Taxes.  Consultant hereby directs Company not to withhold any income, social security, state disability, or other taxes that may be applicable to Consultant.  Consultant hereby represents that Consultant is an independent contractor and will pay such taxes on Consultant’s own behalf.   

3.3.Expenses.  Company will reimburse Consultant for all “out of pocket” expenses incurred in rendering the Services.   

4.COVENANTS, REPRESENTATIONS AND WARRANTIES.  Consultant hereby covenants, represents and warrants to Company that:  

4.1.Performance of Services.  The Services shall be performed in a professional and workmanlike manner and in accordance with industry standards.  Any deliverables provided by Consultant shall comply with the requirements set forth in the Scope of Services.  Consultant shall not subcontract or assign Services without Company’s prior written consent. 

 2 

4.2.Employees and Contractors.  If Consultant is a Company or other entity, (a) the undersigned has authority to bind Consultant to this Agreement and that all of Consultant’s employees and contractors who will provide Services hereunder have executed written agreements with Consultant containing confidentiality and assignment of invention provisions consistent with those in Sections 5 and 6 hereof, and (b) Consultant shall be solely responsible for all acts and omissions of its employees and contractors and for all payments to its employees and contractors, including, without limitation, tax withholding. 

4.3.No Conflicts.  Consultant’s performance of all the terms of this Agreement and Consultant’s work for Company does not and will not breach any invention, assignment or proprietary information agreement with any former employer or other party, or create any conflict of interest with anyone.  Consultant will not enter into any other agreement with any other person or entity, either written or oral, in conflict with the terms of this Agreement.  

4.4.Limitation on Disclosures.  Consultant will not disclose to Company or use for the benefit of Company any confidential information of a third party or derived from sources other than engagement with Company or association with Company during any period of consultancy. 

4.5.No Conflicts of Interest.  During the term of this Agreement, Consultant will not without the prior written approval of the Company directly or indirectly participate in or assist any business that is a current or potential supplier, customer or competitor of Company; provided, however, that Consultant may invest in such companies to an extent not exceeding one percent (1%) of the total outstanding shares in each of one or more such companies whose shares are listed on a national securities exchange or quoted daily by NASDAQ. 

4.6.Non-Solicitation.  During Consultant’s engagement with Company and for one (1) year after the termination of the engagement with Company for any or no reason, in order to enable Company to maintain a stable work force and to operate its business, Consultant shall not, without the prior written consent of the Company, either directly or indirectly solicit, induce, recruit or encourage any of Company’s employees, contractors, vendors or customers to leave their employment or engagement with Company, either for Consultant or for any other person or entity. 

5.CONFIDENTIALITY.   

5.1.Definition of Confidential Information.  For the purposes of this Agreement, “Confidential Information” shall mean all information disclosed by Company to Consultant, whether during or before the term of this Agreement, that is acknowledged as confidential by Company or whose confidential nature is reasonably apparent based on the circumstances under which the information was made available, including without limitation: (a) all matters of a technical nature, such as trade secrets, intellectual property, know-how, formulae, computer programs, source code, object code, machine code, routines, algorithms, software and documentation, secret processes or machines, inventions and research projects; (b) all matters of a business nature, such as information about costs, profits, markets, sales, customers, business contacts, suppliers, and employees (including salary, evaluation, and other personnel data); (c) all plans for further development; and (d) any other information of a similar nature.  Although certain information or technology may be generally known in the relevant industry, the fact that Company uses it, and how Company uses it, may not be so known, and therefore is Confidential Information.  Furthermore, the fact that various fragments of information or data may be generally known in the relevant industry does not mean that the manner in which Company combines them and the results obtained thereby are so known, and in such instance that fact also is Confidential Information.  For the avoidance of doubt, Confidential Information may include proprietary or confidential information of any third party disclosed to Company under condition of confidentiality.  Notwithstanding the foregoing, “Confidential Information” does not include information that Consultant can demonstrate by documentation: (w) was  

 3 

already known to Consultant without restriction on use or disclosure prior to receipt of such information from Company; (x) was or is independently developed by Consultant without reference to or use of any Confidential Information; (y) was or becomes generally known by the public other than by breach of this Agreement; or (z) was received by Consultant from a third party who was not, at the time, under any obligation to maintain the confidentiality of such information.  

5.2.Obligations of Confidentiality and Limited Use.  Consultant shall regard and preserve as confidential, and shall not divulge to unauthorized persons or use, or authorize or encourage persons who are under Consultant’s direction or supervision to use, for any unauthorized purposes, either during or after the term of the engagement, any Confidential Information. 

5.3.Exceptions to Obligations of Non-Disclosure.  Notwithstanding the foregoing nondisclosure obligations: 

(a)Consultant may disclose Confidential Information to the extent required by law or valid order of a court or other governmental authority; provided that Consultant shall first have given notice to Company and shall have made a reasonable effort to obtain a protective order requiring that the Confidential Information so disclosed be used only for the purposes for which the order was issued; and 

(b)Pursuant to 18 U.S.C. Section 1833(b), Consultant shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made: (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law; or (ii) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. 

5.4.Return of Confidential Information.  Upon request by Company, Consultant agrees to promptly deliver or destroy (as instructed by Company) to Company the original and any copies of Confidential Information, whether physical or digital.   

6.OWNERSHIP RIGHTS.   

6.1.Ownership of Inventions.  Consultant will promptly disclose in writing to the Company all inventions (whether or not patentable), ideas, improvements, techniques, know-how, concepts, processes, discoveries, developments, designs, formulae, artwork, content, software programs, other copyrightable works, trade secrets, technology, algorithms, data and any other work product created, conceived or developed by Consultant (whether alone or jointly with others) for Company during or before the term of this Agreement in connection with the Services or which relate to any Confidential Information (collectively, “Inventions”).  Consultant hereby agrees that all Inventions and all right, title and interest therein, including without limitation patents, patent rights, copyrights, mask work rights, trade secret rights and other intellectual property rights anywhere in the world (collectively “Rights”), are the sole property of Company.  Consultant agrees to assign and hereby assigns to Company all Inventions and all Rights.  Consultant agrees to perform all acts deemed necessary or desirable by Company to permit and assist it in evidencing, perfecting, obtaining, maintaining, defending and enforcing its Rights and/or Consultant’s assignment with respect to such Inventions in any and all countries.  Such acts may include without limitation the execution of documents and assistance or cooperation in legal proceedings.  Consultant hereby irrevocably designates and appoints Company and its duly authorized officers and agents as Consultant’s agents and attorneys-in-fact to act for and on behalf and instead of Consultant to execute and file any documents and to do all other lawfully permitted acts to further the above purposes with the same legal force and effect as if executed by Consultant. 

 4 

6.2.Ownership of Confidential Information.  As between the parties, Consultant hereby agrees that all Confidential Information and rights therein are the sole property of Company.  Consultant agrees to assign and hereby assigns to Company any rights or interests Consultant may have or acquire in Confidential Information and all rights relating to all Confidential Information. 

6.3.License to Preexisting IP.  Consultant agrees not to use or incorporate into Inventions any intellectual property developed by any third party or by Consultant other than in the course of performing the Services (“Preexisting IP”).  In the event Consultant uses or incorporates Preexisting IP into Inventions, Consultant hereby grants to Company a non-exclusive, perpetual, fully-paid and royalty-free, irrevocable and worldwide right, with the right to sublicense through multiple levels of sublicensees, to use, reproduce, distribute, create derivative works of, publicly perform and publicly display in any medium or format, whether now known or later developed, such Preexisting IP incorporated or used in Inventions.  However, in no event will Consultant incorporate into Inventions any software code licensed under the GNU GPL or LGPL or any similar “open source” license.  Consultant represents and warrants that Consultant has an unqualified right to license to Company all Preexisting IP as provided in this Section 6.3. 

7.GENERAL TERMS. 

7.1.Relationship of the Parties.  Company and Consultant are and will remain independent contractors as to each other, and no joint venture, partnership, agency or other relationship which would impose liability upon one party for the act or failure to act of the other will be created or implied hereby or herefrom.  Consultant will not be covered under Company employee benefit plans.  Except as expressly set forth herein, each party will bear full and sole responsibility for its own expenses, liabilities, costs of operation and the like.  Neither party will have any power to bind the other party or to assume or to create any obligation or responsibility, express or implied, on behalf or in the name of the other party. 

7.2.Severability; Amendment; Waiver.  If the application of any provision or provisions of this Agreement to any particular facts or circumstances is held to be invalid or unenforceable by any court of competent jurisdiction, then the validity and enforceability of such provision or provisions as applied to any other particular facts or circumstances and the validity of other provisions of this Agreement will not in any way be affected or impaired thereby.  This Agreement may not be amended or waived except in a written amendment executed by Consultant and an officer of Company and ALPP.  The waiver of any one default will not waive any other default. 

7.3.Governing Law.  This Agreement shall be governed in all respects by the laws of the United States of America and by the laws of the State of California, without giving effect to any conflicts of laws principles that require the application of the law of a different jurisdiction.  The prevailing party will be entitled to reasonable attorneys’ fees and expenses. 

7.4.Notices.  Any notice required or permitted by this Agreement shall be in writing and shall be delivered as follows with notice deemed given as indicated: (a) by personal delivery when delivered personally; (b) by overnight courier upon written verification of receipt; (c) by telecopy or facsimile transmission upon acknowledgment of receipt of electronic transmission; or (d) by certified or registered mail, return receipt requested, upon verification of receipt.  Notice shall be sent to the addresses set forth in the signature block below or such other address as either party may specify in writing. 

7.5.Assignment.  Neither party shall assign this Agreement without the prior written consent of the other party.  This Agreement will inure to the benefit of and will be binding upon the successors and permitted assigns of the parties, including without limitation any entity acquiring all or  

 5 

substantially all of the assets or voting stock of Company and any wholly-owned U.S. subsidiary of Company.

7.6.Interpretation.  The language of this Agreement will be construed as a whole according to its fair meaning, and not strictly for or against any of the parties.  The section headings in this Agreement are solely for convenience and will not be considered in its interpretation.  

7.7.Counterparts; Exhibits.  This Agreement may be executed in any number of counterparts, each of which will be an original, but all of which together will constitute one instrument.  The exhibits referred to herein and annexed hereto are hereby incorporated into and made a part of this Agreement. 

[Signature page follows]

 6 

IN WITNESS WHEREOF, for the purpose of binding the parties hereto to this Agreement, the parties or their duly authorized representatives have signed their names on the dates indicated below.  Consultant understands that, notwithstanding the date of execution or acceptance by Company, this Agreement is effective as of the Effective Date. 

 

	COMPANY

	 

	 

	IMPOSSIBLE AEROSPACE CORPORATION.

	 

	 

	 

	 

	By: 

	/s/ Spencer Gore

	Name: 

	Spencer Gore

	Title: 

	President and CEO

	 

	 

	ALPP

	 

	 

	 

	ALPINE 4 TECHNOLOGIES, LTD.

	 

	 

	 

	 

	By: 

	/s/ Kent Wilson

	Name: 

	Kent Wilson

	Title: 

	President

	 

	 

	 

	 

	CONSULTANT

	 

	 

	VMG ROBOTICS, LLC 

	 

	 

	By: 

	/s/ Spencer Gore

	Name: 

	Spencer Gore

	Title: 

	Managing Member

	 

	 

	Address:

	 

	 

	 

	 

	 

	 

	 

	Phone:

	 

	 

	 

	Email:

	 

SIGNATURE PAGE TO CONSULTANT AGREEMENT 

EXHIBIT A

SCOPE OF SERVICES AND COMPENSATION

Services

Reporting Relationships:  This position will report directly to the COO and CEO of ALPP and the Company.  

Consultant will:

·Provide input on Strategic planning and execution to enhance profitability, productivity and efficiency throughout the company’s operations. 

·Ensure that all the knowledge transfer of; design specifications, patent input, operational systems, US-1 production techniques, customer base, 3rd party software and internally written code is transferred and properly understood. 

 

Compensation

Cash Fee

ALPP shall pay or cause the Company to pay to Consultant an aggregate of $250,000.00 in accordance with the following payment schedule.  

	Payment Due Date 

	Amount of Payment

	January 20, 2021

	$41,666.67

	April 20, 2021

	$41,666.67

	January 20, 2022

	$83,333.33

	January 20, 2023

	$83,333.33

	Total

	$250,000.00

 

Each such payment shall be made by ALPP or the Company in such amount and on or before the applicable payment due date.  Notwithstanding the foregoing, in the event of a Change of Control (as such term is defined below), 100% of the unpaid portion of the cash fee shall be paid prior to or concurrent with the closing of such Change of Control.   

Equity 

Initial Grant.  As compensation for the Services, on the Closing Date (as such term is defined in the Merger Agreement), ALPP will grant or cause the Company to grant to Mr. Gore a number of Series C Preferred Stock restricted stock units (“Restricted Stock Units”) of ALPP with a grant date fair value equal to $850,000.00. 

Additional Grant.  Pursuant to the Merger Agreement, ALPP has reserved additional shares of ALPP Series C Preferred Stock with a grant date fair value equal to $250,000.00 (the “Advisor Pool”), which shall be reserved and available for grant to engage other former employees of Company prior to the 

merger (the “Former Employees”) for advisory services. ALPP may issue Restricted Stock Units from the Advisor Pool to Former Employees as it sees fit for a period of six (6) months from the Effective Date. The Company may opt instead to issue cash payments (the “Payments”) to Former Employees for consulting services in lieu of shares from the Advisor Pool.  In this case, shares may be canceled from the Advisor Pool in value equal to the Payments.

In the event that there are any shares remaining in the Advisor Pool on the earlier of (i) the six (6) month anniversary of the Effective Date or (ii) the termination of Consultant’s Services by the Company without Cause or by the Consultant for Good Reason, ALPP shall grant or cause the Company to grant Mr. Gore an additional number of Restricted Stock Units of ALPP with a grant date fair value equal to the value of the shares remaining in the Advisor Pool as of such date (the “Additional Restricted Stock Units”).  For the avoidance of doubt, if the value of Series C Preferred Stock is set by ALPP at a value other than $3.50 per share, all Restricted Stock Unit grants will have their share counts proportionally adjusted. 

Vesting of Restricted Stock Unit Grants:  Two vesting requirements will be required to be satisfied for a Restricted Stock Unit to vest: a time and service-based requirement (the “Service-Based Requirement”); and the “Trigger Event Requirement” (defined below). A Restricted Stock Unit shall actually vest (and therefore becomes a “Vested RSU”) on the first date upon which both the Service-Based Requirement and the Trigger Event Requirement are satisfied with respect to that particular Restricted Stock Unit (the “Vesting Date”).

Service-Based Requirement: 

·The Service-Based Requirement for each Restricted Stock Unit grant pursuant to this Agreement will be satisfied in equal monthly installments as follows: 1/6 of the RSUs will have the Service-Based Requirement satisfied in equal monthly installments during the 6 months following the Effective Date, subject to the Consultant’s continuous provision of Services.  For the avoidance of doubt, the Additional Restricted Stock Units will have satisfied the Service-Based Requirement in full on the date of grant.   

·Acceleration:  In the event that Consultant’s Services with the Company are terminated by the Company (or its successor) without Cause (as defined in the Agreement), or by the Consultant for Good Reason (as defined in the Agreement) on account of or within six (6) months following the Effective Date, all of the Restricted Stock Unit awards granted to Consultant or required to be granted to Consultant pursuant to the terms of this Agreement shall automatically vest in full solely with respect to the Service-Based Requirement as of the date of such termination. 

 

Trigger Event Requirement:  

·The Trigger Event Requirement shall be satisfied in full on the earlier of (A) the fifth day after the date on which (i) the Corporation’s Class A Common Stock first trades on a national securities exchange (including but not limited to NASDAQ, NYSE, or NYSE American, but excluding, for the avoidance of doubt, the OTCQX), (ii) the Company’s capital stock has five days of trading volume over >$5 million, and (iii) such shares of capital stock issued upon settlement of the RSUs are registered with the Securities and Exchange Commission, or (B) a Change of Control.  For purposes of this Agreement, “Change of Control” means (i) a sale of all or substantially all of the assets of the Company and its subsidiaries taken as a whole or (ii) a merger, consolidation or other similar business combination involving the Company, if, upon completion of such transaction the beneficial owners of voting equity securities of the Company immediately prior to the transaction beneficially own less than fifty percent of the successor entity’s voting equity securities; provided, that “Change of Control” shall not include a transaction where the consideration received or retained by the holders of the then outstanding  

C-2

capital stock of the Company does not consist primarily of (i) cash or cash equivalent consideration, (ii) securities which are registered under the Securities Act of 1933, as amended (the “Securities Act”).  

 

Upon settlement of the Vested RSUs, Mr. Gore shall have the right to begin converting Series C Preferred Stock shares issued upon settlement of the Restricted Stock Units to Class A Common Stock shares of ALPP. The number of shares of the Corporation’s Class A Common Stock into which the Series C Preferred Stock shares shall be convertible shall be determined by multiplying the number of shares of Series C Preferred Stock to be converted by $3.50, and then dividing that product by the Conversion Price (as such term is defined in the Merger Agreement).  

C-3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00317-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00317-of-00352.parquet"}]]