Document:

Exhibit 10.3

 

COMMON STOCK PURCHASE
AGREEMENT

 

AGREEMENT
(this “Agreement”) entered into as of the 13th day of November, 2020, by and between Laffin Acquisition
Corp., a Delaware corporation (the “Company”), and Ian Jacobs, an individual (the “Purchaser”).

 

WHEREAS,
the Purchaser desires to purchase, and the Company desires to sell, an aggregate of 250,000 shares (the “Shares”) of
the Company’s common stock, par value $0.0001 per share (the “Common Stock”) upon the terms and conditions hereof.

 

NOW,
THEREFORE, in consideration of the premises and the mutual agreements herein contained, the Purchaser and the Company hereby agree
as follows:

 

SECTION 1: SALE OF THE
SHARES

 

1.1 Sale
of the Shares. Subject to the terms and conditions hereof, the Company will sell to the Purchaser and the Purchaser will purchase
from the Company, upon the execution and delivery of this Agreement, the Shares for a purchase price equal to $25 (the “Purchase
Price”).

 

SECTION 2: CLOSING DATE;
DELIVERY

 

2.1
Closing Date. The closing of the purchase and sale of the Shares hereunder (the “Closing”) shall
be held immediately following the execution and delivery of this Agreement.

 

2.2
Delivery at Closing. At the Closing, the Company will record the issuance of the Shares in the Company’s
stock ledger with respect to the Common Stock of the Company in the Purchaser’s name, against payment of the Purchase Price
therefore as indicated above.

 

SECTION 3: REPRESENTATIONS
AND WARRANTIES OF PURCHASER

 

The undersigned Purchaser hereby represents and
warrants to the Company as follows:

 

3.1
Restricted Securities. None of the Shares are registered under the Securities Act of 1933, as amended (the
“Securities Act”), or any state securities laws. The Purchaser acknowledges that the Shares have not been recommended
by any US Federal or State securities commission or regulatory authority and have not confirmed the accuracy or determined the
adequacy of this Agreement. The Purchaser understands that the offering and sale of the Shares is intended to be exempt from registration
under the Securities Act, by virtue of Section 4(a)(2) thereof and, if deemed advisable by the Company, the provisions of Regulation
D promulgated thereunder, based, in part, upon the representations, warranties and agreements of the Purchaser contained in this
Agreement. The Purchaser understands that the Shares may not be sold, transferred or otherwise disposed of without registration
under the Securities Act or an exemption therefrom.

 

3.2  Experience.
The Purchaser has such knowledge and experience in financial and business matters that the Purchaser is capable of evaluating
the merits and risks of investment in the Company and of making an informed investment decision. The Purchaser has adequate
means of providing for the Purchaser’s current needs and possible future contingencies and the Purchaser has no need,
and anticipates no need in the foreseeable future, to sell the Shares for which the Purchaser subscribes. The Purchaser is
able to bear the economic risks of this investment and, consequently, without limiting the generality of the foregoing, the
Purchaser is able to hold the Shares for an indefinite period of time and has sufficient net worth to sustain a loss of the
Purchaser’s entire investment in the Company in the event such loss should occur. Except as otherwise indicated herein,
the Purchaser is the sole party in interest as to its investment in the Company, and it is acquiring the Shares solely for
investment for the Purchaser’s own account and has no present agreement, understanding or arrangement to subdivide,
sell, assign, transfer or otherwise dispose of all or any part of the Shares subscribed for to any other person.

 

     

     

    

 

3.3
Investment; Access to Data. The Purchaser has carefully reviewed and understands the risks of, and other considerations
relating to, a purchase of the Shares and an investment in the Company. The Purchaser has been furnished materials relating to
the Company, the private placement of the Common Stock or anything else that it has requested and has been afforded the opportunity
to ask questions and receive answers concerning the terms and conditions of the offering and obtain any additional information
which the Company possesses or can acquire without unreasonable effort or expense. Representatives of the Company have answered
all inquiries that the Purchaser has made of them concerning the Company, or any other matters relating to the formation and operation
of the Company and the offering and sale of the Common Stock. The Purchaser has not been furnished any offering literature other
than the materials that the Company may have provided at the request of the Purchaser; and the Purchaser has relied only on such
information furnished or made available to the Purchaser by the Company as described in this Section. The Purchaser is acquiring
the Shares for investment for the Purchaser’s own account, not as a nominee or agent and not with the view to, or for resale
in connection with, any distribution thereof. The Purchaser acknowledges that the Company is a start-up company with no current
operations, assets or operating history, which may possibly cause a loss of Purchaser’s entire investment in the Company.

 

3.4
Authorization. (a) This Agreement, upon execution and delivery thereof, will be a valid and binding obligation
of Purchaser, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization and moratorium
laws and other laws of general application affecting enforcement of creditors’ rights generally.

 

(b) The
execution, delivery and performance by Purchaser of this Agreement and compliance therewith and the purchase and sale of the Shares
will not result in a violation of and will not conflict with, or result in a breach of, any of the terms of, or constitute a default
under, any provision of state or Federal law to which Purchaser is subject, or any mortgage, indenture, agreement, instrument,
judgment, decree, order, rule or regulation or other restriction to which the Purchaser is a party or by which the Purchaser is
bound, or result in the creation of any mortgage, pledge, lien, encumbrance or charge upon any of the properties or assets of Purchaser
pursuant to any such term.

 

3.5
Accredited Investor. Purchaser is an accredited investor as defined in Rule 501(a) of Regulation D under the
Securities Act of 1933, as amended and has executed the statement of accredited investor annexed hereto as Exhibit A.

 

SECTION 4: MISCELLANEOUS

 

4.1
Governing Law. This Agreement shall be governed in all respects by the laws of the State of Delaware, without
regard to conflicts of laws principles thereof.

 

 4.2 Survival. The terms, conditions and agreements made herein shall survive the Closing.

 

4.3
Successors and Assigns. Except as otherwise expressly provided herein, the provisions hereof shall inure to
the benefit of, and be binding upon, the successors, assigns, heirs, executors and administrators of the parties hereto.

 

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4.4
Entire Agreement; Amendment; Waiver. This Agreement constitutes the entire and full understanding and agreement
between the parties with regard to the subject matter hereof. Neither this Agreement nor any term hereof may be amended, waived,
discharged or terminated, except by a written instrument signed by all the parties hereto.

 

4.5
Counterparts; Electronic Signature. This Agreement may be executed in any number of counterparts, each of
which shall be an original, but all of which together, shall constitute one instrument. This Agreement may be executed by facsimile
or pdf signature by any party and such signature will be deemed binding for all purposes hereof without delivery of an original
signature being thereafter required.

 

 

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page has been intentionally left blank.]

 

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IN
WITNESS WHEREOF, the undersigned have hereunto set their hands as of the day and year first written above

 

	 	LAFFIN ACQUISITION CORP.
	 	 	 
	 	By:	 
	 	 	Ian Jacobs
	 	 	President, Secretary, Chief Executive Officer, and Chief Financial Officer
	 	 	
	 	 	 
	 	PURCHASER
	 	 	 
	 	 	 
	 	Ian Jacobs

 

     4Exhibit 4.1

 

Third
Supplemental Indenture,

 

dated as of January 4, 2021

 

among

 

National
General Holdings Corp.,

 

as Issuer,

 

The
Allstate Corporation,

 

as Guarantor,

 

and

 

The
Bank of New York Mellon,

 

as Trustee,

 

to the

 

Indenture

 

dated as of May 23, 2014

 

6.750%
Senior Notes due 2024

 

     

     

    

 

	 	TABLE OF CONTENTS	 
	 	 	 
	ARTICLE 1      DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	2
	SECTION 1.01.	Scope of Supplemental Indenture	2
	SECTION 1.02.	Definitions	2
	ARTICLE 2      GUARANTEE	2
	SECTION 2.01.	The Guarantee	2
	SECTION 2.02.	Guarantee Unconditional, etc	2
	SECTION 2.03.	Subordination	3
	SECTION 2.04.	Reinstatement	3
	SECTION 2.05.	Subrogation	3
	SECTION 2.06.	No Waiver; Remedies	3
	ARTICLE 3     AMENDMENT AND RESTATEMENT	4
	SECTION 3.01.	Rule 144 Information	4
	ARTICLE 4      MISCELLANEOUS	4
	SECTION 4.01.	Effect on Successors and Assigns	4
	SECTION 4.02.	Governing Law; Waiver of Jury Trial	4
	SECTION 4.03.	No Security Interest Created	4
	SECTION 4.04.	Execution in Counterparts	4
	SECTION 4.05.	Notices	5
	SECTION 4.06.	Ratification of Base Indenture	5
	SECTION 4.07.	The Trustee	5

 

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THIRD SUPPLEMENTAL INDENTURE, dated as of
January 4, 2021 (this “Third Supplemental Indenture”), by and among National General Holdings Corp., a
Delaware corporation (the “Company”), The Allstate Corporation, a Delaware corporation (the “Guarantor”)
and parent of the Company, and The Bank of New York Mellon (the “Trustee”), as trustee under the Indenture,
dated as of May 23, 2014, between the Company and the Trustee (the “Base Indenture”), as supplemented by
the First Supplemental Indenture, dated as of May 23, 2014 (the “First Supplemental Indenture” and together
with the Base Indenture, the “Indenture”).

 

RECITALS OF THE COMPANY

 

WHEREAS, the Company executed and delivered
the Base Indenture to the Trustee to provide, among other things, for the issuance, from time to time, of the Company’s unsecured
senior debt Securities, in an unlimited aggregate principal amount, in one or more series to be established by the Company under,
and authenticated and delivered as provided in, the Base Indenture;

 

WHEREAS, pursuant to the terms of the Base
Indenture, the Company created and issued under the First Supplemental Indenture its 6.750% Senior Notes due 2024 (the “Securities”);

 

WHEREAS, Section 7.02 of the First
Supplemental Indenture provides for the Company and the Trustee to enter into a supplemental indenture to the Base Indenture with
the consent of a majority of the Holders of the Securities for the purposes of modifying the rights of the Holders under the Indenture;

 

WHEREAS, Section 7.01(c) of
the First Supplemental Indenture provides for the Company and the Trustee to enter into a supplemental indenture to the Base
Indenture without the consent of the Holders of the Securities to add a guarantee for the benefit of the Holders of the
Securities;

 

WHEREAS, all of the Holders of the Securities
have delivered an Act of the Holders of the Securities, acknowledged and agreed to by the Company and the Guarantor, requesting
that the Trustee enter into this Third Supplemental Indenture with the Company and the Guarantor to (i) add a guarantee of
the payment obligations of the Securities by the Guarantor and (ii) modify Section 4.03(a) of the First Supplemental
Indenture to replace the requirement of the Company to provide certain information about itself with a requirement of the Guarantor
to provide such information about itself instead; and

 

WHEREAS, all requirements necessary to make
this Third Supplemental Indenture a valid instrument in accordance with its terms have been performed, and the execution and delivery
of this Third Supplemental Indenture have been duly authorized in all respects.

 

NOW, THEREFORE, THIS THIRD SUPPLEMENTAL
INDENTURE WITNESSETH, it is mutually agreed, for the benefit of the Company and the equal and proportionate benefit of all Holders,
as follows:

 

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ARTICLE 1

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

 

SECTION 1.01.         Scope
of Supplemental Indenture.

 

The changes, modifications and supplements
to the Indenture effected by this Third Supplemental Indenture shall be applicable only with respect to, and shall govern only
the terms of (and only the rights of the Holders, the obligations of the Company, the obligations of the Guarantor and the rights
and obligations of the Trustee with respect to), the Securities, and shall not apply to any other securities that may be issued
under the Base Indenture (or govern the rights of the holders or the obligations of the Company or the Guarantor with respect to
any such other securities) unless a supplemental indenture with respect to such other securities specifically incorporates such
changes, modifications and supplements. The provisions of this Third Supplemental Indenture shall, with respect to the Securities,
supersede any corresponding provisions in the Indenture. Subject to the preceding sentence, and except as otherwise provided herein,
the provisions of the Indenture shall apply to the Securities and govern the rights of the Holders of the Securities, the obligations
of the Company and the rights and obligations of the Trustee with respect thereto.

 

SECTION 1.02.         Definitions.

 

For all purposes of this Third Supplemental
Indenture, except as otherwise expressly provided or unless the context otherwise requires, all words, terms and phrases defined
in the Indenture (but not otherwise defined herein) shall have the same meanings as in the Indenture.

 

ARTICLE 2

GUARANTEE

 

SECTION 2.01.        The
Guarantee.

 

The Guarantor hereby fully and unconditionally
guarantees to the Trustee and each Holder of a Security the full and prompt payment of all monetary obligations of the Company
under the Security and the Indenture, whether for principal of, premium (if any) and interest on any such Security, expenses, indemnification
or otherwise, including monetary obligations to the Trustee (such obligations being referred to herein as the “Obligations”),
when and as the same shall become due and payable, whether at maturity, on an interest payment date, by acceleration, redemption,
repayment or otherwise, in accordance with the terms of such Security and of the Indenture (the “Guarantee”).
In case of the failure of the Company punctually to pay any such Obligations, the Guarantor hereby agrees to cause any such payment
to be made punctually when and as the same shall become due and payable, whether at maturity, on an interest payment date, upon
acceleration, redemption, repayment or otherwise, and as if such payment were made by the Company. The Guarantor further agrees
that its guarantee herein constitutes a guarantee of payment when due (and not a guarantee of collection).

 

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SECTION 2.02.         Guarantee
Unconditional, etc.

 

The Guarantor hereby agrees that its obligations
hereunder shall be absolute, irrevocable and unconditional, irrespective of, and shall be unaffected by, any invalidity, irregularity
or unenforceability of any Security or the Indenture, any failure to enforce the provisions of any Security or the Indenture, or
any waiver, modification, consent or indulgence granted with respect thereto by the Holder of such Security or the Trustee, the
recovery of any judgment against the Company or any action to enforce the same, or any other circumstances which may otherwise
constitute a legal or equitable discharge of a surety or guarantor. The Guarantor hereby waives diligence, presentment, demand
of payment, filing of claims with a court in the event of merger, insolvency or bankruptcy of the Company, any right to require
a proceeding first against the Company, protest or notice with respect to any such Security or the Indebtedness evidenced thereby
and all demands whatsoever, and covenants that this Guarantee will not be discharged except by payment in full of the Obligations.
The Guarantor further agrees, to the fullest extent that it lawfully may do so, that, as between the Guarantor, on the one hand,
and the Holders and the Trustee, on the other hand, the maturity of the obligations guaranteed hereby may be accelerated as provided
in the Indenture for the purposes of this Guarantee, notwithstanding any stay, injunction or prohibition extant under any bankruptcy,
insolvency, reorganization or other similar law of any jurisdiction preventing such acceleration in respect of the obligations
guaranteed hereby.

 

SECTION 2.03.         Subordination.

 

The Guarantor hereby covenants and agrees
that its obligation to make payments of the Obligations hereunder constitutes a senior unsecured obligation of the Guarantor ranking
(a) equally in right of payment with all existing and future unsecured and unsubordinated indebtedness of the Guarantor from
time to time outstanding, (b) senior in right of payment with all existing and future expressly subordinated indebtedness
of the Guarantor from time to time outstanding and (c) junior in right of payment with any future secured indebtedness of
the Guarantor to the extent of the value of the assets securing such indebtedness.

 

SECTION 2.04.         Reinstatement.

 

This Guarantee shall continue to be effective
or be reinstated, as the case may be, if at any time payment on any Security, in whole or in part, is rescinded or must otherwise
be restored to the Company or the Guarantor upon the bankruptcy, liquidation or reorganization of the Company, the Guarantor or
otherwise.

 

SECTION 2.05.         Subrogation.

 

The Guarantor shall be subrogated to all
rights of the Holder of any Security against the Company in respect of any amounts paid to such Holder by the Guarantor pursuant
to the provisions of this Guarantee; provided, however, that the Guarantor shall not be entitled to enforce, or to
receive any payments arising out of or based upon, such right of subrogation until the principal of, and premium (if any) and interest
on all Securities and all other amounts due and owing under the Indenture shall have been paid in full.

 

SECTION 2.06.         No
Waiver; Remedies.

 

No failure on the part of the Trustee or
any Holder to exercise, and no delay in exercising, any right hereunder shall operate as a waiver thereof; nor shall any single
or partial exercise of any right hereunder preclude any other or further exercise thereof or the exercise of any other right. The
remedies herein provided are cumulative and not exclusive of any remedies provided by law.

 

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ARTICLE 3

AMENDMENT AND RESTATEMENT

 

SECTION 3.01.         Rule 144
Information.

 

Section 4.03(a) of the First Supplemental
Indenture is hereby deleted in its entirety and replaced with the following:

 

“(a) The Company covenants and
agrees that it shall, during any period in which The Allstate Corporation, a Delaware corporation and the parent of the Company
(“Allstate”), is not subject to Section 13 or 15(d) of the Exchange Act, make available to any Holder
or beneficial holder of Securities and any prospective purchaser of Securities designated by such Holder or beneficial holder,
the information, if any, required pursuant to Rule 144(c)(2) under the Securities Act as it relates to Allstate upon
the request of any such Holder or beneficial holder of the Securities.”

 

ARTICLE 4

MISCELLANEOUS

 

SECTION 4.01.         Effect
on Successors and Assigns.

 

All agreements of the Company, the Guarantor,
the Trustee, the Security Registrar, and the Paying Agent in the Indenture and the Securities will bind their respective successors.

 

SECTION 4.02.         Governing
Law; Waiver of Jury Trial.

 

This Third Supplemental Indenture shall
be governed by and construed in accordance with the laws of the State of New York without regard to conflicts of law principles
of such State other than New York General Obligations Law Section 5-1401. Each party hereto, hereby waives, to the fullest
extent permitted by applicable law, any right it may have to a trial by jury in respect of any litigation directly or indirectly
arising out of, under or in connection with the Indenture.

 

SECTION 4.03.         No
Security Interest Created.

 

Nothing in the Indenture or in the Securities,
expressed or implied, shall be construed to constitute a security interest under the Uniform Commercial Code or similar legislation,
as now or hereafter enacted and in effect, in any jurisdiction.

 

SECTION 4.04.         Execution
in Counterparts.

 

This Third Supplemental Indenture may be
executed by any one or more of the parties hereto in any number of counterparts, each of which shall be deemed to be an original,
but all such counterparts shall together constitute one and the same instrument. Delivery of this Third Supplemental Indenture
by one party to the other may be made by facsimile, electronic mail or other transmission method as permitted by applicable law,
and the parties hereto agree that any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid
and effective for all purposes. A party’s electronic signature (complying with the New York Electronic Signatures and Records
Act (N.Y. State Tech. §§ 301-309), as amended from time to time, or other applicable law) on this Third Supplemental
Indenture shall have the same validity and effect as a signature affixed by the party’s hand.

 

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SECTION 4.05.         Notices.

 

The Company or the Trustee, by notice given
to the other in the manner provided in Section 105 of the Base Indenture, may designate additional or different addresses
for subsequent notices or communications.

 

All notices or communications hereunder
to the Guarantor will be in writing and effective only on receipt, and will be mailed or delivered to The Allstate Corporation,
2775 Sanders Road, Northbrook, Illinois 60062(847), Attention: Secretary.

 

Notwithstanding anything to the contrary
in Sections 105 and 106 of the Base Indenture, whenever the Company of the Guarantor is required to deliver notice to the Holders,
the Company or the Guarantor, as the case may be, will, by the date it is required to deliver such notice to the Holders, deliver
a copy of such notice to the Trustee, the Paying Agent and the Security Registrar.

 

SECTION 4.06.         Ratification
of Base Indenture.

 

The Base Indenture, as supplemented by this
Supplemental Indenture, is in all respects ratified and confirmed, and this Supplemental Indenture shall be deemed part of the
Base Indenture in the manner and to the extent herein provided. For the avoidance of doubt, each of the Company and each Holder,
by its acceptance of such Securities, acknowledges and agrees that all of the rights, privileges, protections, immunities and benefits
afforded to the Trustee under the Base Indenture are deemed to be incorporated herein, and shall be enforceable by the Trustee
hereunder, in each of its capacities hereunder as if set forth herein in full.

 

SECTION 4.07.         The
Trustee.

 

The recitals in this Third Supplemental
Indenture are made by the Company and the Guarantor only and not by the Trustee. The Trustee shall not be responsible with respect
to the validity or sufficiency of this Third Supplemental Indenture, and all of the provisions contained in the Base Indenture
in respect of the rights, privileges, immunities, powers and duties of the Trustee shall be applicable in respect of the Securities
and of this Third Supplemental Indenture as fully and with like effect as set forth in full herein.

 

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left blank] 

 

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IN WITNESS WHEREOF, the parties hereto
have caused this Third Supplemental Indenture to be duly executed as of the day and year first above written.

 

	 	NATIONAL GENERAL HOLDINGS CORP., as
    Issuer
	 	 
	 	By:	/s/ Jeffrey Weissmann
	 	Name:  	Jeffrey Weissmann
	 	Title	Executive Vice President, General Counsel and Secretary
	 	 
	 	THE ALLSTATE CORPORATION, as Guarantor
	 	 
	 	By:	/s/ Mario Rizzo
	 	Name:   	Mario Rizzo
	 	Title	Executive Vice President and Chief Financial Officer
	 	 
	 	THE BANK OF NEW YORK MELLON, as Trustee
	 	 
	 	By:	/s/ FRANCINE
    KINCAID
	 	Name:  	FRANCINE KINCAID
	 	Title	Vice President

 

[Third
Supplemental Indenture]

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