Document:

EX-10.3

 Exhibit 10.3 

PRIVATE PLACEMENT CAPSTM PURCHASE AGREEMENT 

THIS PRIVATE PLACEMENT CAPSTM PURCHASE AGREEMENT (as it may from time to time be
amended and including all exhibits referenced herein, this “Agreement”), dated as of September 15, 2020, is entered into by and among Executive Network Partnering Corporation, a Delaware corporation (the
“Company”), and ENPC Holdings, LLC, a Delaware limited liability company (the “Purchaser”). 

WHEREAS, the Company intends to consummate an initial public offering of the Company’s
CAPSTM (the “Public Offering”), each CAPSTM consisting of one share of Class A common stock of the
Company, par value $0.0001 per share (each, a “Share”), and one-quarter of one redeemable warrant, each whole warrant entitling the holder to purchase one Share at an exercise price of
$28.75 per Share, as set forth in the Company’s Registration Statement on Form S-1, filed with the U.S. Securities and Exchange Commission (the “SEC”), File Number 333-248267 and 333-248267 (the “Registration Statement”), under the Securities Act of 1933, as amended (the “Securities Act”).

 WHEREAS, the Purchaser has agreed to purchase, at a price of $25.00 per private placement CAPSTM, an aggregate of 224,000 private placement CAPSTM (and up to 21,600 additional private placement CAPSTM if the underwriter of the Public Offering exercises its over-allotment option in full) (the “Private Placement
CAPSTM”), each Private Placement CAPSTM consisting of one Share (each, a “Private Placement
Share”), and one-quarter of one redeemable warrant, each whole warrant entitling the holder to purchase one Share at an exercise price of $28.75 per Share (each, a “Private Placement
Warrant”). 
 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
CAPSTM. 
 A. Authorization of the Private Placement CAPSTM. The Company has duly authorized the issuance and sale of the Private Placement CAPSTM to the Purchaser. 

B. Purchase and Sale of the Private Placement CAPSTM. 

(i) On the date of the consummation of the Public Offering (the “IPO Closing Date”), the Company shall issue and sell
to the Purchaser, and the Purchaser shall purchase from the Company, 224,000 Private Placement CAPSTM at a price of $25.00 per private placement CAPSTM for an aggregate purchase price of $5,600,000 (the “Purchase Price”). The Purchaser shall pay the Purchase Price by wire transfer of immediately available funds in the
following amounts: (i) $2,000,000 to the Company, at a financial institution to be chosen by the Company, and (ii) $3,600,000 to the trust account maintained by Continental Stock Transfer & Trust Company, acting as trustee (the
“Trust Account”), in each case accordance with the Company’s wiring instructions, at least one (1) business day prior to the IPO Closing Date. On the IPO Closing Date, subject to the receipt of funds pursuant to the
immediately prior sentence, the Company, at its option, shall deliver a certificate evidencing the Private Placement CAPSTM purchased on such date duly registered in the Purchaser’s name
to the Purchaser or effect such delivery in book-entry form. 
 (ii) On the date of the closing of the over-allotment option, if any, in
connection with the Public Offering or on such earlier time and date as may be mutually agreed by the Purchaser and the Company (an “Over-allotment Closing Date”, and each Over-allotment Closing Date (if any) and the IPO
Closing Date, a “Closing Date”), the Company shall issue and sell to the Purchaser, and the Purchaser shall purchase from the Company, up to 21,600 Private Placement
CAPSTM (or, to the extent the over-allotment option is not exercised in full, a lesser number of Private Placement CAPSTM in proportion
to portion of the over-allotment option that is then exercised) at a price of $25.00 per CAPSTM for an aggregate purchase price of up to $540,000 (the “Over-allotment Purchase
Price”). The Purchaser shall pay the Over-allotment Purchase Price in accordance with the Company’s 

 
wire instruction by wire transfer of immediately available funds to the Trust Account, at least one (1) business day prior to the Over-allotment Closing Date. On the Over-allotment Closing
Date, subject to the receipt of funds pursuant to the immediately prior sentence, the Company shall, at its option, deliver a certificate evidencing the Private Placement CAPSTM purchased on
such date duly registered in the Purchaser’s name to the Purchaser or effect such delivery in book-entry form. 
 C. Terms of the
Private Placement Warrants. 
 (i) Each Private Placement Warrant shall have the terms set forth in a Warrant Agreement to be entered
into by the Company and a warrant agent on the IPO Closing Date, in connection with the Public Offering (the “Warrant Agreement”). 

(ii) On or prior to the IPO Closing Date, the Company and the Purchaser shall enter into a registration and stockholder rights agreement (the
“Registration and Stockholder Rights Agreement”) pursuant to which the Company will grant certain registration rights to the Purchaser relating to the Private Placement Shares, 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 CAPSTM, the Company hereby represents and warrants to the Purchaser (which representations
and warranties shall survive each Closing Date) that: 
 A. Incorporation and Corporate Power. The Company is a corporation duly
incorporated, validly existing and in good standing under the laws of the State of Delaware 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 Warrant Agreement have been duly authorized by the Company as of each
Closing Date. This Agreement constitutes the valid and binding obligation of the Company, 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). Upon issuance in accordance with, and payment pursuant to, the terms of the Warrant Agreement
and this Agreement, the Private Placement CAPSTM and the Private Placement Warrants will constitute valid and binding obligations of the Company, enforceable in accordance with their terms as
of the Closing Date, 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 Company of this Agreement and the Warrant Agreement, the
issuance and sale of the Private Placement CAPSTM, the issuance of the Private Placement Shares and the Private Placement Warrants, and the issuance of 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 each Closing Date (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 capital stock or assets under, (d) result in 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 certificate of incorporation 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. 

  
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 C. Title to Securities. Upon issuance in accordance with, and payment pursuant to,
the terms hereof and the Warrant Agreement, the Private Placement Shares and the Shares issuable upon exercise of the Private Placement Warrants will be duly and validly issued, fully paid and nonassessable. On the date of issuance of the Private
Placement Warrants, the shares issuable upon exercise of the Private Placement Warrants shall have been reserved for issuance. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, the Purchaser will
have good title to the Private Placement CAPSTM purchased by it, the Private Placement Shares, 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. Regulation D Qualification. Neither the Company nor, to its actual knowledge, any of
its affiliates, members, officers, directors or beneficial shareholders of 20% or more of its outstanding securities, has experienced a disqualifying event as enumerated pursuant to Rule 506(d) of Regulation D under the Securities Act. 

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 CAPSTM to the Purchaser, the Purchaser hereby represents and warrants to the Company (which representations and warranties shall survive
each Closing Date) 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 each Closing Date (a) conflict with or result in a breach by the Purchaser 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 Purchaser’s equity or assets under, (d) result in 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 Purchaser’s organizational documents 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 Purchaser is subject, or any agreement, instrument, order, judgment or decree to which the Purchaser is subject, except for any filings required after the date hereof under federal or state
securities laws. 
 C. Investment Representations. 

(i) The Purchaser is acquiring the Private Placement CAPSTM, the Private Placement
Shares and the Private Placement Warrants and, upon exercise of the Private Placement Warrants, the Shares issuable upon such exercise (collectively, the “Securities”) for its 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, and the Purchaser has not experienced a disqualifying event as enumerated pursuant to Rule 506(d) of Regulation D under the Securities Act. 

  
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 (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 decide to 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;
(b) except as specifically set forth in the Registration and Stockholder 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; and (c) Rule 144 adopted pursuant to the Securities Act will not be available for resale transactions of Securities prior to a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar partnering transaction, involving the Company and one or more businesses (a “Partnering Transaction”) and may not be available for resale transactions of Securities after a Partnering
Transaction. 
 (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 investments in the Securities. 

Section 4. Conditions of the Purchaser’s Obligations. The obligations of the Purchaser to purchase and pay for
the Private Placement CAPSTM are subject to the fulfillment, on or before each Closing Date, 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 Date 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 such Closing Date. 

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. 

  
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 D. Warrant Agreement and Registration and Stockholder Rights Agreement. The Company
shall have entered into the Warrant Agreement, in the form of Exhibit A hereto, and the Registration and Stockholder Rights Agreement, in the form of Exhibit B hereto, in each case on terms satisfactory to the Purchaser. 

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 each Closing Date, 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 such Closing Date 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 such Closing Date. 
 C. 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 CAPSTM, the Private Placement Shares and the Private Placement Warrants hereunder. 
 D.
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. 

E. Warrant Agreement. The Company shall have entered into the Warrant Agreement. 

Section 6. Definitions. Terms used but not otherwise defined in this Agreement shall have the meaning assigned to
such terms in the Registration Statement. 
 Section 7. 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 affiliates thereof (including, without limitation one or more of its members). 

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. Signatures to this Agreement transmitted via facsimile or e-mail shall be
valid and effective to bind the party so signing. 
 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. 

  
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 E. Governing Law. This Agreement shall be deemed to be a contract made under the laws
of the State of New York and for all purposes shall be construed in accordance with the internal laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the laws of another
jurisdiction. 
 F. Amendments. This Agreement may not be amended, modified or waived as to any particular provision, except by a
written instrument executed by the parties hereto. 
 [Signature page follows] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement. 

 

			
	COMPANY:
	
	EXECUTIVE NETWORK PARTNERING CORPORATION
		
	By:	 	 /s/ Alex Dunn

	Name:	 	Alex Dunn
	Title:	 	Chief Executive Officer
	
	PURCHASER:
	
	ENPC HOLDINGS, LLC
		
	By:	 	 /s/ Alex Dunn

	Name:	 	Alex Dunn
	Title:	 	President

 [Signature Page to Private Placement
CAPSTM Purchase Agreement] 

 EXHIBIT A 

Warrant Agreement 

  
 A-1 

 EXHIBIT B 

Registration and Stockholder Rights Agreement 

  
 B-1EX-10.4

 Exhibit 10.4 

EXECUTIVE NETWORK PARTNERING CORPORATION 

137 Newbury Street, 7th Floor 

Boston, MA 02116 

September 15, 2020 
 ENPC Holdings, LLC,

 137 Newbury Street, 7th Floor 
 Boston, MA 02116 

Re: Administrative Support Agreement  

Ladies and Gentlemen: 
 This letter agreement by
and between Executive Network Partnering Corporation (the “Company”) and ENPC Holdings, LLC (“Sponsor”), dated as of the date hereof, will confirm our agreement that, commencing on the date the securities of the Company are first
listed on the New York Stock Exchange (the “Listing Date”), pursuant to a Registration Statement on Form S-1 and prospectus filed with the Securities and Exchange Commission (the
“Registration Statement”) and continuing until the earlier of the consummation by the Company of an initial partnering transaction or the Company’s liquidation (in each case as described in the Registration Statement) (such earlier
date hereinafter referred to as the “Termination Date”): 
  

	 	i.	 Sponsor shall make available, or cause to be made available, to the Company, at 137 Newbury Street, 7th Floor,
Boston, MA 02116 (or any successor location of Sponsor), certain office space, utilities and secretarial and administrative support as may be reasonably required by the Company. In exchange therefor, the Company shall pay Sponsor the sum of $20,000
per month on the Listing Date and continuing monthly thereafter until the Termination Date; and 

  

	 	ii.	 Sponsor hereby irrevocably waives any and all right, title, interest, causes of action and claims of any kind
as a result of, or arising out of, this letter agreement (each, a “Claim”) in or to, and any and all right to seek payment of any amounts due to it out of, the trust account established for the benefit of the public stockholders of the
Company and into which substantially all of the proceeds of the Company’s initial public offering will be deposited (the “Trust Account”), and hereby irrevocably waives any Claim it may have in the future, which Claim would reduce,
encumber or otherwise adversely affect the Trust Account or any monies or other assets in the Trust Account, and further agrees not to seek recourse, reimbursement, payment or satisfaction of any Claim against the Trust Account or any monies or
other assets in the Trust Account for any reason whatsoever. 

 This letter agreement constitutes the entire agreement and
understanding of the parties hereto in respect of its subject matter and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter
hereof or the transactions contemplated hereby. 

 This letter agreement may not be amended, modified or waived as to any particular provision,
except by a written instrument executed by the parties hereto. 
 No party hereto may assign either this letter agreement or any of its
rights, interests, or obligations hereunder without the prior written approval of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest or
title to the purported assignee. 
 This letter agreement constitutes the entire relationship of the parties hereto, and any litigation
between the parties (whether grounded in contract, tort, statute, law or equity) shall be governed by, construed in accordance with, and interpreted pursuant to the laws of the State of New York, without giving effect to its choice of laws
principles. 
 [Signature Page Follows] 

  
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	Very truly yours,
	
	EXECUTIVE NETWORK PARTNERING CORPORATION
		
	By:	 	 /s/ Alex Dunn

		 	Name: Alex Dunn
		 	Title:   Chief Executive Officer

  

			
	AGREED TO AND ACCEPTED BY:
	
	ENPC HOLDINGS, LLC
		
	By:	 	 /s/ Alex Dunn

		 	Name: Alex Dunn
		 	Title:   President

 [Signature Page to Administrative Support Agreement]

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