Document:

EX-10.3

 Exhibit 10.3 

Execution Version 
 Far Peak Acquisition
Corporation 
 511 6th Ave #7342 
 New York, New York 10011 

Bullish 
 c/o Maples Corporate Services Centre Limited 

P.O, Box 309, Ugland House 
 Grand Cayman, Cayman Islands KY1-1104 
 Re: Amendment to the Letter Agreement 

Ladies and Gentlemen: 
 This amendment to the
Letter Agreement, dated as of July 8, 2021 (this “Letter Agreement Amendment”), is made and entered into by and among Far Peak LLC (the “Sponsor”) and each of the undersigned (each, an
“Insider” and, collectively, the “Insiders”) in respect of and in reference to that certain Letter Agreement, dated as of December 4, 2020 (the “Letter Agreement”), by and among the Sponsor and
the Insiders. Capitalized terms used but not defined in this Letter Agreement Amendment shall have the meanings given to them in the Letter Agreement. The Sponsor and the Insiders acknowledge and agree that the effectiveness of this Letter Agreement
Amendment shall be expressly subject to the consummation of the Initial Closing contemplated by that certain Business Combination Agreement (as may be amended, restated or supplemented from time to time, the “Business Combination
Agreement”) to be entered into by and among Bullish, a Cayman Islands exempted company (“Pubco”), Bullish Global, a Cayman Islands exempted company, Far Peak Acquisition Corporation, a Cayman Islands exempted company, BMC
1, a Cayman Islands exempted company and BMC 2, a Cayman Islands exempted company and shall automatically be terminated and made null and void if the Business Combination Agreement is terminated pursuant to the terms therein. The transactions
contemplated by the Business Combination Agreement are referred to herein as the “Bullish Business Combination.” In order to induce Pubco to proceed with the Mergers (as defined in the Business Combination Agreement) and for other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Sponsor and the Insiders hereby agree with the Company and Pubco to amend the Letter Agreement as follows: 

1. Paragraph 6 of the Letter Agreement is amended, restated and replaced, in its entirety, with the following: 

“6. Lock-up; Transfer Restrictions. 

(a) Notwithstanding anything to the contrary in the Letter Agreement, for purpose of Paragraph 6, (i) “Founder Shares” shall
mean the Class B ordinary shares of the Company, which will be converted into the Class A ordinary shares of Pubco pursuant to the Business Combination Agreement, (ii) “Ordinary Shares” shall mean the Company’s
Class A ordinary shares, which will be converted into the Class A ordinary shares of Pubco pursuant to the Business Combination Agreement, (iii) “Private Placement Warrants” shall mean the warrants to purchase Class A
ordinary shares of the Company, which will be converted into the Pubco Warrants (as defined in 

 
the Business Combination Agreement) pursuant to the Business Combination Agreement, (iv) references to the Company shall refer to Pubco following the consummation of the transactions
contemplated by the Business Combination Agreement, and (v) references to “initial Business Combination” and “Business Combination” shall refer to the transactions contemplated by the Business Combination Agreement. 

(b) The Sponsor. 

(i) The Sponsor agrees that it shall not Transfer any Founder Shares (the “Sponsor
Lock-up”) until the earliest of (A) one year after the completion of an initial Business Combination and (B) following the completion of an initial Business Combination, the date on which
the Company completes a liquidation, merger, share exchange or other similar transaction that results in all of the Company’s shareholders having the right to exchange their Ordinary Shares for cash, securities or other property (the
“Sponsor Lock-up Period”). Notwithstanding the foregoing, but subject to Paragraph 6(b)(ii) below, if, subsequent to a Business Combination, the closing price of the Ordinary Shares
equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share capitalizations, share consolidations, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period commencing at least 150 days after the Company’s initial Business Combination, the Founder Shares shall be released from the Sponsor Lock-up;
provided, however, that, if the Sponsor Lock-up Period would have otherwise expired prior to the date that is 180 days after the Company’s initial Business Combination, such expiration shall
not be deemed effective until 180 days after the Company’s initial Business Combination. 
 (ii) In addition to the provisions of
Paragraph 6(b)(i) above: 
 (1) if, in connection with the consummation of the Bullish Business Combination, more than 15,000,000
Class A ordinary shares are validly tendered for redemption and not withdrawn, the Sponsor shall, at the closing of the Bullish Business Combination, surrender to the Company for cancellation 1,950,000 Founder Shares (the
“Forfeiture”); 
 (2) if, in connection with the consummation of the Bullish Business Combination there is no Forfeiture,
then following the closing of such Bullish Business Combination, (i) the Sponsor shall not Transfer 780,000 Founder Shares (the “First Tier Locked-up Shares”) until such time as the
closing price of the Ordinary Shares equals or exceeds $12.50 per share (as adjusted for share sub-divisions, share capitalizations, share consolidations, reorganizations, recapitalizations and the like) for
any 20 trading days within a 30-trading day period after the closing of the initial Business Combination, and (ii) the Sponsor shall not Transfer an additional 780,000 Founder Shares (the
“Second-Tier Locked-up Shares”) until such time as the closing price of the Ordinary Shares equals or exceeds $15.00 per share (as adjusted for share
sub-divisions, share capitalizations, share consolidations, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period after
the closing of the initial Business Combination; and 
 (3) in connection with the consummation of the Bullish Business Combination, the
Sponsor shall, at the closing of the Bullish Business Combination, surrender to the Company for cancellation 400,000 Private Placement Warrants. 

 (iii) The Sponsor agrees that it shall not effectuate any Transfer of Private Placement
Warrants or Ordinary Shares underlying such warrants until 30 days after the completion of an initial Business Combination. 
 (iv)
Notwithstanding the provisions set forth in Paragraphs 6(b)(i)—6(b)(iii), Transfers of the Founder Shares, Private Placement Warrants and Ordinary Shares underlying the Private Placement Warrants 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 or partners of the Sponsor or their affiliates, any affiliates of the Sponsor, or any employees of such
affiliates; (b) by private sales or transfers, including, for the avoidance of doubt, pursuant to the terms of the Securities Purchase Agreement, dated as of the date hereof, among the Sponsor, Pubco and the Anchor Subscriber named therein,
made in connection with any forward purchase agreement or similar arrangement or in connection with the consummation of a Business Combination at prices no greater than the price at which the Founder Shares, Private Placement Warrants or Ordinary
Shares, as applicable, were originally purchased; (c) by virtue of the Sponsor’s organizational documents upon liquidation or dissolution of the Sponsor; (d) in the event of the Company’s liquidation, merger, share exchange or
other similar transaction which results in all of the Company’s Public Shareholders having the right to exchange their Ordinary Shares for cash, securities or other property subsequent to the completion of an initial Business Combination; or
(e) from the Sponsor to the Anchor Investor upon the consummation of a Business Combination, in an aggregate amount of 1,950,000 Founder Shares; provided, however, that in the case of clauses (a) through (c) and (e), these permitted
transferees must enter into a written agreement agreeing to be bound by these transfer restrictions. 
 (c) The Insiders. 

(i) The Insiders agree that they shall not Transfer any Founder Shares (the “Insiders
Lock-up”) until the earliest of (A) one year after the completion of an initial Business Combination and (B) following the completion of an initial Business Combination, the date on which
the Company completes a liquidation, merger, share exchange or other similar transaction that results in all of the Company’s shareholders having the right to exchange their Ordinary Shares for cash, securities or other property (the
“Insiders Lock-up Period”, and together with the Sponsor Lock-up Period, the “Founder Shares Lock-up
Period”). Notwithstanding the foregoing, if, subsequent to a Business Combination, the closing Stock Price of the Ordinary Shares equals or exceeds $12.00 per share (as adjusted for share
sub-divisions, share capitalizations, share consolidations, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period
commencing at least 150 days after the Company’s initial Business Combination, the Founder Shares shall be released from the Insiders Lock-up; provided, however, that, if the Insiders Lock-up Period would have otherwise expired prior to the date that is 180 days after the Company’s initial Business Combination, such expiration shall not be deemed effective until 180 days after the
Company’s initial Business Combination 
 (ii) The Insiders agree that they shall not effectuate any Transfer of Private Placement
Warrants or Ordinary Shares underlying such warrants until 30 days after the completion of an initial Business Combination. 

 (iii) Notwithstanding the provisions set forth in Paragraphs 6(c)(i) and
6(c)(ii), Transfers of the Founder Shares, Private Placement Warrants and Ordinary Shares underlying the Private Placement Warrants 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 or partners of the Sponsor or their affiliates, any affiliates of the Sponsor, or any employees of such affiliates; (b) by gift to a member of one of the individual’s immediate
family or to a trust, the beneficiary of which is a member of the individual’s immediate family, an affiliate of such person or to a charitable organization; (c) by virtue of laws of descent and distribution upon death of the individual;
(d) 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 a Business Combination at
prices no greater than the price at which the Founder Shares, Private Placement Warrants or Ordinary Shares, as applicable, were originally purchased; (f) in the event of the Company’s liquidation, merger, share exchange or other similar
transaction which results in all of the Company’s Public Shareholders having the right to exchange their Ordinary Shares for cash, securities or other property subsequent to the completion of an initial Business Combination; provided, however,
that in the case of clauses (a) through (e) these permitted transferees must enter into a written agreement agreeing to be bound by these transfer restrictions.” 

2. Paragraph 7 of the Letter Agreement is amended, restated and replaced, in its entirety, with the following: 

“7. Remedies. The Sponsor and each of the Insiders hereby agree and acknowledge that (i) each of the Underwriters, the Company and Pubco would
be irreparably injured in the event of a breach by the Sponsor or such Insider of its, her or his obligations, as applicable under paragraphs 3, 4, 6, 8, and 11, (ii) monetary damages may not be an adequate remedy
for such breach and (iii) the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that such party may have in law or in equity, in the event of such breach.”

 3. Paragraph 9 of the Letter Agreement is deleted in its entirety. 

4. Paragraph 19 of the Letter Agreement is amended, restated and replaced, in its entirety, with the following: 

“19. No Third Party Beneficiaries. The parties hereto acknowledge and agree that Pubco shall be entitled to specifically enforce obligations of the
Sponsor and the Insiders under the Letter Agreement and this Letter Agreement Amendment and the provisions of Paragraphs 6 and 7 of the Letter Agreement (as amended by this Letter Agreement Amendment) to which Pubco is an express third
party beneficiary on the terms and subject to the conditions set forth therein. The Letter Agreement and this Letter Agreement Amendment shall not confer any rights or benefits on any persons that are not parties hereto or thereto, except as set
forth with respect to the Underwriters in respect of any amendment to Section 6(d) or with respect to Pubco.” 
 5. The Letter Agreement and this
Letter Agreement Amendment constitute the entire agreement and understanding of the parties hereto in respect of the subject matter hereof 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. 

 6. This Letter Agreement Amendment may not be changed, amended, modified or waived (other than to correct a
typographical error) as to any particular provision, except by a written instrument executed by all parties affected thereby. 
 7. Paragraph 13
through 18 of the Letter Agreement are incorporated herein and shall apply to this Letter Agreement Amendment mutatis mutandis. 

[Signature Page Follows] 

			
	
	FAR PEAK LLC
		
	By:	 	 /s/ Thomas W. Farley

	Name: Thomas W. Farley
	Title: Manager
	
	INSIDERS
		
	By:	 	 /s/ Thomas W. Farley 

	Name: Thomas W. Farley
		
	By:	 	 /s/ David W. Bonanno 

	Name: David W. Bonanno
		
	By:	 	 /s/ Stanley A. McChrystal 

	Name: Stanley A. McChrystal
		
	By:	 	 /s/ Nicole Seligman 

	Name: Nicole Seligman
		
	By:	 	 /s/ Charles Vice 

	Name: Charles Vice

  
 [Signature Page to the
Letter Agreement Amendment] 

			
	Acknowledged and Agreed:
	FAR PEAK ACQUISITION CORPORATION
		
	By:	 	 /s/ Thomas W. Farley

	Name: Thomas W. Farley
	Title:	 	Chief Executive Officer, President and Chairman of the Board

  
 [Signature Page to the
Letter Agreement Amendment] 

			
	Acknowledged and Agreed:
	BULLISH
		
	By:	 	 /s/ Andrew Bliss

	Name: Andrew Bliss
	Title: Director

  
 [Signature Page to the
Letter Agreement Amendment]EX-10.4

 Exhibit 10.4 

Execution Version 
 [NAME OF APPLICABLE
FUND] 
 c/o BlackRock Financial Management, Inc. 
 55 East 52nd
Street 
 New York, NY 10055 
 Attn: Christopher Biasotti 

 

	Re:	 Side Letter Agreement 

Ladies and Gentlemen: 
 Reference is made to that
certain Subscription Agreement (the “Agreement”), dated as of November 12, 2020, by and among Far Peak Acquisition Corporation, a Cayman Island company limited by shares (the “Company”), Far Peak LLC, a Cayman
Island limited liability company (the “Sponsor”) and                (the “Purchaser”). Capitalized terms
used in this side letter agreement (the “Side Letter Agreement”) and not defined herein shall have the meanings ascribed to such terms in the Agreement. 

In connection with the Company’s entry into that certain Business Combination Agreement (as may be amended, restated or supplemented from
time to time, the “Business Combination Agreement”) by and among the Company, Bullish, a Cayman Islands exempted company (“Pubco”), Bullish Global, a Cayman Islands exempted company, BMC 1, a Cayman Islands exempted
company and BMC 2, a Cayman Islands exempted company, the parties are contemporaneously entering into this Side Letter Agreement. 

Pursuant to Section 2 of the Agreement, if, in connection with a Business Combination, the Sponsor enters into any
other arrangements with respect to the Founder Shares and/or the Private Placement Warrants (or the Sponsor’s membership interests representing an interest in any of the foregoing) (a “Change in Investment”), such Change in
Investment shall apply pro rata to the Purchaser and the Sponsor based on the relative number of Founder Shares and/or Private Placement Warrants to be held by each on the closing of a Business Combination; provided, however that in no
event shall such Change in Investment apply to more than 25% of the Founder Shares to be purchased by the Purchaser and/or 20% of the Private Placement Warrants held by the Purchaser. 

Pursuant to Section 2 of the Agreement, the Purchaser shall take all steps and execute all such agreements as may be
necessary or reasonably requested by the Sponsor to effectuate such Change in Investment on the same terms as applicable to the Sponsor. 

In connection with the transactions contemplated by the Business Combination Agreement (the “Bullish Business Combination”)
the Sponsor has agreed to a Change in Investment as reflected in the Securities Purchase Agreement attached hereto as Exhibit A (the “Securities Purchase Agreement”) and the Amendment to the Letter Agreement attached hereto
as Exhibit B. 
 In consideration of the foregoing, and in connection with the Agreement and the obligations contemplated thereunder,
the parties hereby agree as follows: 
  

 1. Section 6(a) of the Agreement shall be deemed amended and restated in its
entirety to reflect the following: 
 (i) Notwithstanding anything to the contrary in the Agreement, for purpose of Section 6, (1)
“Founder Shares” shall mean the Class B ordinary shares of the Company, which will be converted into the Class A ordinary shares of Pubco pursuant to the Business Combination Agreement, (2)
“Class A Common Stock” shall mean the Company’s Class A ordinary shares, which will be converted into the Class A ordinary shares of Pubco pursuant to the Business Combination Agreement, (3)
“Private Placement Warrants” shall mean the warrants to purchase Class A ordinary shares of the Company, which will be converted into the Pubco Warrants (as defined in the Business Combination Agreement) pursuant to the
Business Combination Agreement, (4) references to the Company shall refer to Pubco following the consummation of the transactions contemplated by the Business Combination Agreement, and (5) references to “Business Combination”
shall refer to Bullish Business Combination. 
 (ii) The Purchaser agrees that it shall not Transfer (1) any Founder Shares until the
earlier of (A) one year after the closing of the Business Combination (the “Business Combination Closing”) and (B) the date following the Business Combination Closing on which the Company completes a liquidation, merger,
capital stock exchange or other similar transaction that results in all of the Company’s stockholders having the right to exchange their Class A Common Stock for cash, securities or other property (such period, the “Lock-up Period”) or (2) any Private Placement Warrants (or any shares of Class A Common Stock issuable upon exercise of the Private Placement Warrants) until 30 days after the Business Combination
Closing. Notwithstanding the foregoing, if subsequent to the Business Combination Closing, the closing price of the Class A Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations,
recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Business Combination Closing, the Founder Shares shall be released from the
lockup referenced in this Section 6(a)(ii); provided, however, that, if the Lock-up Period would have otherwise expired prior to the date that is 180 days after the
Business Combination Closing, such expiration shall not be deemed effective until 180 days after the Business Combination Closing. 
 (iii)
In addition to the provisions of Section 6(a)(ii) above: 
 (1) if, (A) in connection with the consummation of
the Bullish Business Combination, more than 15,000,000 Class A ordinary shares of the Company are validly tendered for redemption and not withdrawn and (B) in connection with such redemptions, the Sponsor has surrendered to the Company for
cancellation 1,950,000 Founder Shares, then (C) the Purchaser shall, at the closing of the Bullish Business Combination, receive
 [390,000] fewer Founder Shares than it otherwise would have received pursuant to
Section 1(a)(ii) of the Agreement (the “Forfeiture”); and 

  
 2 

 (2) if, in connection with the consummation of the Bullish Business Combination, there is no
Forfeiture, then (A) the Purchaser shall not Transfer [195,000] Founder Shares until such time as the closing price of the Class A Common Stock equals or exceeds $12.50 per share (as adjusted for share sub-divisions, share capitalizations, share consolidations, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period after the
Business Combination Closing, and (B) the Purchaser shall not Transfer an additional [195,000] Founder Shares until such time as the closing price of the Class A Common Stock equals or exceeds $15.00 per share (as adjusted for share sub-divisions, share capitalizations, share consolidations, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period after the
Business Combination Closing. 
 (iv) Notwithstanding the provisions set forth in (ii) and (iii) above, Transfers of the Securities
are permitted (1) to the Company’s officers or directors, any affiliates or family members of any of the Company’s officers or directors, any members or partners of the Sponsor or their affiliates, any affiliates of the Sponsor, or
any employees of such affiliates; (2) in the case of an individual, by gift to a member of one of the individual’s immediate family or to a trust, the beneficiary of which is a member of the individual’s immediate family, an affiliate
of such person or to a charitable organization; (3) in the case of an individual, by virtue of laws of descent and distribution upon death of the individual; (4) in the case of an individual, pursuant to a qualified domestic relations
order; (5) by private sales or transfers made in connection with any forward purchase agreement or similar arrangement or in connection with the consummation of a Business Combination at prices no greater than the price at which the applicable
Securities were originally purchased; (6) by virtue of the Purchaser’s organizational documents upon liquidation or dissolution of the Purchaser; (7) in the event of the Company’s liquidation, merger, stock exchange,
reorganization or other similar transaction which results in all of the Company’s public shareholders having the right to exchange their Class A Common Stock for cash, securities or other property subsequent to the Company’s
completion of the Business Combination; and (8) to the Purchaser’s affiliates, to any investment fund or other entity controlled or managed by the Purchaser, or to any investment manager or investment advisor of the Purchaser or an
affiliate of any such investment manager or investment advisor or to any investment fund or other entity controlled or managed by such persons (each of the foregoing, a “Permitted Transferee”); provided, however, that in the case of
clauses (1) through (6) and (8) these Permitted Transferees must enter into a written agreement agreeing to be bound by the terms of the Agreement, including these transfer restrictions. “Transfer” shall mean the
(x) sale of, offer to sell, contract or agreement to sell, hypothecation, 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 Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations of the
SEC promulgated thereunder) with respect to, any of the Securities; (y) 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 of the Securities, whether any
such transaction is to be settled by delivery of such Securities, in cash or otherwise, or (z) public announcement of any intention to effect any transaction specified in clause (x) or (y); provided further, that
Section 6(a) of the Agreement shall not prohibit the Purchaser from effecting a Short Sale with securities that do not constitute “Securities” under the Agreement. 

  
 3 

 2. Pursuant to the Change in Investment agreed to by the Sponsor, the Purchaser agrees, at the Business
Combination Closing and at the Sponsor’s written direction, it shall (i) sell [600,000] Private Placement Warrants to the Sponsor, or a designee the Sponsor, for a purchase price of $1.00 per Private Placement Warrant and
(ii) surrender to the Company for cancellation [100,000] Private Placement Warrants. 
 3. Notwithstanding anything contained herein to the contrary,
this Side Letter Agreement shall not be effective until the transactions contemplated by the Business Combination Agreement are effected. If the Acquisition Closing (as defined in the Business Combination Agreement) is not consummated, this Side
Letter Agreement shall automatically and immediately terminate, and no party hereto shall have any rights, nor any obligations, under this Side Letter Agreement. 

4. Sections 7(f)-(g), 7(i)-(m) and 7(o)-(s) of the Agreement are hereby incorporated by reference. 

[Signature page follows] 

  
 4 

			
	Sincerely,
	
	PURCHASER:
	
	[INPUT BLACKROCK ENTITY]
		
	By:	 	              

	Name:	 	  

	Title:	 	  

  
  

  
 [Signature Page to Side
Letter Agreement] 

 
			
	ACKNOWLEDGED AND AGREED BY:
	
	COMPANY:
	
	FAR PEAK ACQUISITION CORPORATION
		
	By:	 	 

                     
    

	Name:	 	  

	Title:	 	  

	
	SPONSOR:
	
	FAR PEAK LLC
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 [Signature Page to Side
Letter Agreement]

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