Document:

Document

Exhibit 10.3

Exchange Agreement
November 4, 2021

Perficient, Inc.
555 Maryville University Drive
Suite 600
Saint Louis, Missouri 63141

Re:    Perficient, Inc.’s Exchange of 1.250% Convertible Senior Notes due 2025
Ladies and Gentlemen:
The undersigned investor (the “Investor”), for itself and on behalf of the beneficial owners listed on Exhibit A hereto (the “Accounts”) for whom the Investor holds contractual and investment authority (each, including the Investor if it is a party exchanging Old Notes (as defined below), an “Exchanging Investor”) hereby agrees to exchange (the “Exchange”), with Perficient, Inc., a Delaware corporation (the “Company”), the aggregate principal amount of the Company’s 1.250% Convertible Senior notes due 2025, CUSIP 71375U AD3 (the “Old Notes”) set forth in Exhibit A hereto that it beneficially owns for (1) cash (the “Cash Consideration”) in an amount equal to the sum of (x) 163.0% of the principal amount of Old Notes to be exchanged; (y) accrued interest on such Old Notes to be exchanged from, and including, August 1, 2021 to, but excluding, the Closing Date (as defined below), calculated in accordance with the Existing Indenture (as defined below); and (z) cash payable in lieu of delivering any fractional share, as provided below; and (2) 8.6004 shares of the Company’s common stock, $0.001 par value per share, CUSIP 71375 U101 (the “Common Stock”), per $1,000 principal amount of such Old Notes to be exchanged, provided, however, that if the number of shares of Common Stock deliverable to any Exchanging Investor pursuant to this clause (2) is not a whole number, then, in lieu of issuing any fractional share of Common Stock, the Company will deliver to such Exchanging Investor a cash amount equal to the product of the related fraction and $147.6458 per share (the shares of Common Stock deliverable pursuant to this clause (2), the “Exchange Shares,” and the Exchange Shares, together with the Cash Consideration deliverable pursuant to clause (1) above, the “Exchange Consideration”).
The Old Notes were issued pursuant to that certain Indenture (the “Existing Indenture”), dated as of August 14, 2020, between the Company, as issuer, and U.S. Bank National Association, as trustee (in such capacity, the “Old Notes Trustee”). If only one Exchanging Investor is identified in Exhibit A hereto, then each reference in this Exchange Agreement to “Exchanging Investors” will be deemed to be a reference to such Exchanging Investor identified in Exhibit A hereto, mutatis mutandis.
The Investor understands that the Exchange is being made without registration under the Securities Act of 1933, as amended (the “Securities Act”), or any securities laws of any state of the United States or of any other jurisdiction, and the Exchange Shares are only being offered to 
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“qualified institutional buyers” (as defined in Rule 144A under the Securities Act) in reliance on a private placement exemption from registration under the Securities Act.
1.    Agreement to Exchange. Subject to the terms and conditions of this Exchange Agreement, the Investor hereby agrees to exchange, and to cause each other Exchanging Investor, if any, to exchange, an aggregate principal amount of the Old Notes set forth on the signature page hereto for the Exchange Consideration.
    The Exchange will occur in accordance with the procedures set forth in Section 3 hereof.
2.    The Closing. The closing of the Exchange (the “Closing”) will take place at the offices of Bryan Cave Leighton Paisner LLP, One Metropolitan Square, 211 North Broadway, Suite 3600, St. Louis, MO 63102, at 10:00 a.m., New York City time, on the later of (a) November 9, 2021; (b) such date as the conditions to Closing set forth in Section 6 are satisfied or waived; and (c) such other time and place as the Company and the Investor may agree (such later date, the “Closing Date”).
3.    Exchange. Subject to the terms and conditions of this Exchange Agreement, the Investor hereby, for itself and on behalf of each Exchanging Investor, sells, assigns and transfers to, or upon the order of, the Company, all right, title and interest in such portion of the Old Notes as indicated on Exhibit A hereto, waives any and all other rights with respect to such Old Notes and the Existing Indenture and releases and discharges the Company from any and all claims the Investor and the Accounts may now have, or may have in the future, arising out of, or related to, such Old Notes, including, without limitation, any claims arising from any existing or past defaults under the Existing Indenture, or any claims that the Investor or any Exchanging Investor is entitled to receive additional interest with respect to the Old Notes.
At or prior to 9:30 a.m., New York City time, on the Closing Date, the Investor agrees to direct the eligible participant of The Depository Trust Company (“DTC”) through which each Exchanging Investor holds a beneficial interest in the Old Notes to submit a withdrawal instruction through DTC’s Deposits and Withdrawal at Custodian (“DWAC”) program to the Old Notes Trustee), for the aggregate principal amount of the Old Notes to be exchanged pursuant to this Exchange Agreement (the “DWAC Withdrawal”).
DTC will act as securities depositary for the Exchange Shares. At or prior to 9:30 a.m. New York City time on the Closing Date, the Investor agrees to direct an eligible DTC participant to submit a deposit instruction (the “Exchange Shares DWAC Deposit”) through DTC’s DWAC program to Computershare Trust Company, N.A., as DTC custodian for the Common Stock (the “Transfer Agent”), for the aggregate number of Exchange Shares that it is entitled to receive pursuant to this Exchange Agreement, or comply with such other settlement procedures mutually agreed in writing by the Investor and the Company. The Exchange Consideration will not be delivered until a valid DWAC Withdrawal of the Old Notes has been received and accepted by the Old Notes Trustee. If the Closing does not occur, any Old Notes submitted for DWAC Withdrawal will be returned to the DTC participant that submitted the withdrawal instruction in accordance with the procedures of DTC. The Investor acknowledges that each of the DWAC Withdrawal and the Exchange Shares DWAC Deposit must be 
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posted on the Closing Date and that if it is posted before the Closing Date, then it will expire unaccepted and must be resubmitted on the Closing Date.
For the convenience of each Exchanging Investor, attached hereto as Exhibit B is a summary of the delivery instructions that must be followed to settle the Exchange through DTC.
The Investor acknowledges and understands that other investors are participating in similar exchanges, each of which contemplates a DWAC Withdrawal and an Exchange Shares DWAC Deposit. The Company intends to complete the Exchange Shares DWAC Deposit concurrently for all investors who have submitted valid DWAC Withdrawals and Exchange Shares DWAC Deposits by the deadline above. In the event that the Investor complies with the deadline above for the DWAC Withdrawal and other investors do not, the Company will use its commercially reasonable efforts to ensure that the New Notes Exchange Shares are delivered to the Investor pursuant to the Exchange Shares DWAC Deposit on the Closing Date. However, in the event that such Exchange Shares are not delivered on the Closing Date, the Company will use its commercially reasonable efforts to ensure that the same will be delivered on the business day immediately following the Closing Date or as soon as reasonably practicable thereafter.
On the Closing Date, subject to satisfaction of the conditions precedent specified in this Exchange Agreement, and the prior receipt of a valid DWAC Withdrawal conforming with the aggregate principal amount of the Old Notes to be exchanged by each Exchanging Investor and a valid Exchange Shares DWAC Deposit conforming with the aggregate number of Exchange Shares to be issued to such Exchanging Investor in the Exchange, the Company hereby agrees to (1) pay the applicable Cash Consideration to such Exchanging Investor by wire transfer to the account in the United States of such Exchanging Investor set forth in Exhibit A to this Exchange Agreement and (2) deliver, by acceptance of such Exchange Shares DWAC Deposit, such Exchange Shares (or comply with such other settlement procedures mutually agreed in writing by the Company and such Exchanging Investor) to the DTC account of such Exchanging Investor specified on Exhibit A to this Exchange Agreement.
If (w) the Old Notes Trustee is unable to locate the DWAC Withdrawal or (x) or the Transfer Agent is unable to locate the Exchange Shares DWAC Deposit or (y) such DWAC Withdrawal does not conform to the Old Notes to be exchanged in the Exchange or such Exchange Shares DWAC Deposit does not conform to the Exchange Shares to be issued in the Exchange, then the Company will promptly notify the Investor. If, because of the occurrence of an event described in clause (w), (x) or (y) of the preceding sentence, the Cash Consideration is not paid or the Exchange Shares are not delivered on the Closing Date, then such Cash Consideration or Exchange Shares, as applicable will be paid or delivered, as applicable, on the first business day following the Closing Date (or as soon as reasonably practicable thereafter) on which all applicable conditions set forth in clauses (w), (x) or (y) of the first sentence of this paragraph have been cured.
All questions as to the form of all documents and the validity and acceptance of the Old Notes will be determined by the Company, in its reasonable discretion, which determination will be final and binding.
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All authority herein conferred or agreed to be conferred in this Exchange Agreement will survive the dissolution of the Investor, and any representation, warranty, undertaking and obligation of the Investor hereunder will be binding upon the trustees in bankruptcy, legal representatives, successors and assigns of the Investor.
4.    Representations, Warranties and Covenants of the Company. The Company represents and warrants to the Exchanging Investors and covenants that:
(a)    The Company is duly formed, validly existing and in good standing under the laws of the State of Delaware, with full power and authority to conduct its business as it is currently being conducted and to own its assets. The Company has full power and authority to consummate the Exchange and to enter into this Exchange Agreement and perform all of its obligations hereunder.
(b)    The Exchange Shares, when issued and delivered in exchange for the Old Notes in the manner set forth in this Exchange Agreement, will be validly issued, fully paid and non-assessable, and free and clear of all mortgages, liens, pledges, charges, security interests, encumbrances, title retention agreements, options, preemptive rights, equity or other adverse claims thereto (collectively, “Liens”) created by the Company.
(c)    The Exchange and the other transactions contemplated thereby will not (i) contravene any law, rule or regulation binding on the Company or any subsidiary thereof or any judgment or order of any court or arbitrator or governmental or regulatory authority applicable to the Company or any such subsidiary, (ii) constitute a breach or violation or result in a default under any loan agreement, mortgage, lease or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which it is bound or (iii) constitute a breach or violation or result in a default under the organizational documents of the Company or any subsidiary thereof, except, in the case of clauses (i) and (ii) above, for such contraventions, conflicts, violations or defaults that would not, individually or in the aggregate, reasonably be expected to result in a material adverse effect on the business, properties, management, financial position, stockholders’ equity or results of operations of the Company and its subsidiaries taken as a whole or on the performance by the Company of its obligations under this Exchange Agreement.
(d)    No consent, approval, authorization, order, license, registration or qualification of or with any court or governmental or regulatory authority is required for the execution, delivery and performance by the Company of its obligations under this Exchange Agreement and the consummation of the transactions contemplated by this Exchange Agreement, except such as have been obtained or made (or will, at the Closing, have been obtained or made) by the Company.
(e)    This Exchange Agreement has been duly authorized, executed and delivered by the Company.
(f)    At or before the Closing, the Company will have submitted to the Nasdaq Stock Market an Application for Listing of Additional Shares with respect to the Exchange Shares. The Company will use its commercially reasonable efforts to maintain the listing of the Exchange Shares on the Nasdaq Global Select Market for so long as the Common Stock is then so listed.
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(g)    Assuming the accuracy of the representations and warranties of the Investor, made on behalf of itself and the Exchanging Investors, (i) the issuance of the Exchange Shares in exchange for the Old Notes pursuant to this Exchange Agreement is exempt from the registration requirements of the Securities Act; and (ii) when issued pursuant to this Exchange Agreement, the Exchange Shares will be freely transferable without restrictions as to volume and manner of sale pursuant to Rule 144 under the Securities Act. When issued pursuant to this Exchange Agreement, the Exchange Shares will each be issued with an “unrestricted” CUSIP number and will not be subject to any restriction on transfer imposed by the Company or under the Securities Act by persons who are not, and who have not been at any time during the preceding three months, an “affiliate” of the Company within the meaning of Rule 144 under the Securities Act.
(h)    The Company is not and, after giving effect to the transactions contemplated by this Exchange Agreement, will not be required to register as an “investment company” within the meaning of the Investment Company Act of 1940, as amended, and the rules and regulations of the Securities and Exchange Commission (“SEC”) thereunder.
(i)    The Covered SEC Filings (as defined below), taken as a whole, do not include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. As used herein, “Covered SEC Filings” means each of the following documents, in the form they have been filed with the SEC and including any amendments thereto filed with the SEC: (w) the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020; (x) the Company’s Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2021, June 30, 2021 and September 30, 2021; (y) those portions of the Company’s 2021 Proxy Statement on Schedule 14A that are incorporated by reference into the Annual Report referred to in clause (w) above; and (z) the Company’s Current Reports on Form 8-K (excluding any Current Reports or portions thereof that are furnished, and not filed, pursuant to Item 2.02 or Item 7.01 of Form 8-K, and any related exhibits) filed with the SEC after December 31, 2020.
5.    Representations and Warranties of the Investor. The Investor hereby, for itself and on behalf of each Exchanging Investor, represents and warrants to and covenants with the Company that:
(a)    The Investor, for itself and on behalf of each Exchanging Investor, has full power and authority to exchange, sell, assign and transfer the Old Notes to be exchanged hereby and to enter into this Exchange Agreement and perform all obligations required to be performed by the Investor or such Exchanging Investor hereunder.
(b)    Each of the Exchanging Investors is and, immediately before the Closing, will be the beneficial owner of the Old Notes set forth on Exhibit A. Neither the Investor nor any other Exchanging Investor is, as of the date of this Exchange Agreement, or, at the Closing, will be, and, at no time during the three months preceding the date of this Exchange Agreement or preceding the Closing, was or will any of them be, a “person” that is an “affiliate” of the Company (as such terms are defined in Rule 144 under the Securities Act).
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(c)    When the Old Notes are exchanged pursuant to this Exchange Agreement, the Company will acquire good, marketable and unencumbered title to the Old Notes, free and clear of all Liens.
(d)    The Exchange will not (i) contravene any law, rule or regulation binding on the Investor or any of the Exchanging Investors or any investment guideline or restriction applicable to the Investor or any of the Exchanging Investors, or (ii) constitute a breach or violation or result in a default under the organizational documents of the Investor or any Exchanging Investor or any material loan agreement, mortgage, lease or other agreement or instrument to which the Investor or any Exchanging Investor is a party or by which it is bound.
(e)    The Investor and each Exchanging Investor is a resident of the jurisdiction set forth on Exhibit A attached to the Exchange Agreement.
(f)    The Investor and each Exchanging Investor will comply with all applicable laws and regulations in effect in any jurisdiction in which the Investor or any of the Exchanging Investors acquires any Exchange Shares pursuant to the Exchange and will obtain any consent, approval or permission required for such purchases, acquisitions or sales under the laws and regulations of any jurisdiction to which the Investor or any of the Exchanging Investors is subject or in which the Investor or any Exchanging Investor acquires any Exchange Shares pursuant to the Exchange.
(g)    The Investor and each Exchanging Investor acknowledges that no person has been authorized to give any information or to make any representation concerning the Company or the Exchange other than as contained in this Exchange Agreement and the Covered SEC Filings. The Company takes no responsibility for, and provides no assurance as to the reliability of, any other information that others may provide to the Investor or any Exchanging Investor.
(h)    The Investor and each Exchanging Investor understands and accepts that the Exchange Shares to be acquired in the Exchange involve risks. Each of the Investor and the Exchanging Investors has such knowledge, skill and experience in business, financial and investment matters that such person is capable of evaluating the merits and risks of the Exchange and an investment in the Exchange Shares. With the assistance of each Exchanging Investor’s own professional advisors, to the extent that the Exchanging Investor has deemed appropriate, each Exchanging Investor has made its own legal, tax, accounting and financial evaluation of the merits and risks of an investment in the Exchange Shares and the consequences of the Exchange and this Exchange Agreement. Each Exchanging Investor has considered the suitability of the Exchange Shares as an investment in light of its own circumstances and financial condition, and each of the Investor and the Exchanging Investor is able to bear the risks associated with an investment in the Exchange Shares.
(i)    The Investor confirms that it and each Exchanging Investor is not relying on any statement (written or oral), representation or warranty made by, or on behalf of, the Company, Jefferies LLC (“Jefferies”), Morgan Stanley & Co. LLC (“Morgan Stanley”) or any of their respective affiliates as investment, tax or other advice or as a recommendation to participate in the Exchange and receive the Exchange Consideration in exchange for Old Notes. Neither the Company, Jefferies, Morgan Stanley nor any of their respective affiliates is acting or has acted as 
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an advisor to the Investor or any Exchanging Investor in deciding whether to participate in the Exchange and to exchange Old Notes for the Exchange Consideration.
(j)    The Investor confirms that none of the Company, Jefferies, Morgan Stanley or any of their respective affiliates have (i) given any guarantee or representation as to the potential success, return, effect or benefit (either legal, regulatory, tax, financial, accounting or otherwise) of an investment in the Exchange Shares; or (ii) made any representation to the Investor or any Exchanging Investor regarding the legality of an investment in the Exchange Shares under applicable investment guidelines, laws or regulations. In deciding to participate in the Exchange, each of the Investor and the Exchanging Investors is not relying on the advice or recommendations of the Company, Jefferies or Morgan Stanley, or their respective affiliates, and has made its own independent decision that the terms of the Exchange and the investment in the Exchange Shares are suitable and appropriate for it.
(k)    Each of the Investor and the Exchanging Investors is familiar with the business and financial condition and operations of the Company and has had the opportunity to conduct its own investigation of the Company and the Exchange Shares. Each of the Investor and the Exchanging Investors has had access to and reviewed the Covered SEC Filings and such other information concerning the Company and the Exchange Shares it deems necessary to enable it to make an informed investment decision concerning the Exchange. Each of the Investor and the Exchanging Investors has been offered the opportunity to ask questions of the Company and received answers thereto, as it deems necessary to enable it to make an informed investment decision concerning the Exchange.
(l)    Each of the Investor and the Exchanging Investors understands that no federal or state agency has passed upon the merits or risks of an investment in the Exchange Shares or made any recommendation or endorsement, or made any finding or determination concerning the fairness or advisability, of such investment or the consequences of the Exchange and this Exchange Agreement.
(m)    Each Exchanging Investor and each account for which it is acting is a “qualified institutional buyer” as defined in Rule 144A under the Securities Act. Each of the Investor and the Exchanging Investors agrees to furnish any additional information requested by the Company or any of its affiliates to assure compliance with applicable U.S. federal and state securities laws in connection with the Exchange.
(n)    Each Exchanging Investor is acquiring the Exchange Shares solely for such Exchanging Investor’s own beneficial account, for investment purposes, and not with a view to, or for resale in connection with, any distribution of the Exchange Shares in violation of the Securities Act. Each of the Investor and the Exchanging Investors understands that the offer and sale of the Exchange Shares have not been registered under the Securities Act or any state securities laws by reason of specific exemptions under the provisions thereof that depend in part upon the investment intent of the Investor and the Exchanging Investors and the accuracy of the other representations made by the Investor, for itself and on behalf of each Exchanging Investor, in this Exchange Agreement. Each of the Investor and the Exchanging Investors understands that the Company and its affiliates are relying upon the representations and agreements contained in 
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this Exchange Agreement (and any supplemental information) for the purpose of determining whether the Exchange meets the requirements for such exemptions.
(o)    The Investor acknowledges that the terms of the Exchange have been mutually negotiated between the Investor and the Company.
(p)    The Investor will, upon request, execute and deliver, for itself and on behalf of any Exchanging Investor, any additional documents that the Company,  the Old Notes Trustee or the Transfer Agent may reasonably request to complete the Exchange.
(q)    The Investor understands that, unless the Investor notifies the Company in writing to the contrary at or before the Closing, each of the Investor’s representations and warranties, on behalf of itself and each Exchanging Investor, contained in this Exchange Agreement will be deemed to have been reaffirmed and confirmed as of the Closing, taking into account all information received by the Investor and each Exchanging Investor.
(r)    The Investor was given a meaningful opportunity to negotiate the terms of the Exchange.
(s)    The Investor’s and each Exchanging Investor’s participation in the Exchange was not conditioned by the Company on the Investor or any Exchanging Investor’s exchange of a minimum principal amount of Old Notes for the Exchange Consideration.
(t)    The Investor had a sufficient amount of time to consider whether to participate in the Exchange, and neither the Company, Jefferies nor Morgan Stanley, nor any of their respective affiliates or agents, has placed any pressure on the Investor to respond to the opportunity to participate in the Exchange.
(u)    No later than one (1) business day after the date hereof, the Investor agrees to deliver to the Company settlement instructions substantially in the form of Exhibit A attached to the Exchange Agreement for each of the Exchanging Investors.
(v)    The Investor acknowledges and agrees that neither Jefferies nor Morgan Stanley has acted as a financial advisor or fiduciary to the Investor or any Exchanging Investor and that each of Jefferies and Morgan Stanley and their respective directors, officers, employees, representatives and controlling persons have no responsibility for making, and have not made, any independent investigation of the information contained herein or in the Company’s SEC filings and make no representation or warranty to the Investor or any Exchanging Investor, express or implied, with respect to the Company, the Old Notes or the Exchange Consideration or the accuracy, completeness or adequacy of the information provided to the Investor or any Exchanging Investor or any other publicly available information, nor will any of the foregoing persons be liable for any loss or damages of any kind resulting from the use of the information contained therein or otherwise supplied to the Investor or any Exchanging Investor.
(w)    If the Investor is exchanging any Old Notes or acquiring any of the Exchange Consideration as a fiduciary or agent for one or more accounts (including any Accounts that are Exchanging Investors), it represents that it has (i) the requisite investment discretion with respect to each such account necessary to effect the Exchange, (ii) full power to make the foregoing 
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representations, warranties and covenants on behalf of such account; and (iii) contractual authority with respect to each such account.
(x)    The Investor acknowledges that, concurrently with the Exchange, the Company is conducting a private placement for cash of convertible senior notes.
6.    Conditions to Obligations of the Investor and the Company. The obligations of the Investor to deliver (or cause to be delivered) the Old Notes and of the Company to deliver the Exchange Consideration are subject to the satisfaction at or prior to the Closing of the following conditions precedent: the representations, warranties and covenants of the Company contained in Section 4 hereof and of the Investor, for itself and on behalf of the Exchanging Investors, contained in Section 5 hereof are true and correct as of the Closing in all respects with the same effect as though such representations and warranties had been made as of the Closing, and all covenants therein to be performed at or before the Closing have been performed. The obligation of the Company to deliver the Exchange Consideration is further subject to the conditions precedent set forth in Section 3 hereof and the prior receipt by the Company of a valid DWAC Withdrawal and Exchange Shares DWAC Deposit, in each case conforming to the requirements set forth in this Exchange Agreement.
7.    Covenant and Acknowledgment of the Company. (i) As of the date hereof the Company is not aware of, and has not provided to the Investor, any material non-public information regarding the Company, other than any material non-public information relating to the Exchange or the concurrent private placement of convertible senior notes; and (ii) the Company hereby agrees to publicly disclose at or before 8:30 a.m., New York City time, on the first business day after the date hereof (such time and date, the “Release Time”), the exchange of the Old Notes contemplated by this Exchange Agreement and similar exchange agreements, and the information referred to in clause (i) regarding the concurrent private placement of convertible senior notes in a press release or Current Report on Form 8-K. The Company hereby acknowledges and agrees that, as of the Release Time, none of the information provided by or on behalf of the Company to the Investor or any Exchanging Investor in connection with the Exchange will constitute material non-public information.
8.    Further Instruments and Acts. Each of the parties to this Exchange Agreement agrees to execute and deliver such further instruments and do such further acts as may be reasonably necessary or proper to more effectively carry out the purposes of this Exchange Agreement.
9.    Waiver, Amendment. Neither this Exchange Agreement nor any provisions hereof may be modified, changed, discharged or terminated except by an instrument in writing, signed by the party against whom any waiver, change, discharge or termination is sought.
10.    Assignability. Neither this Exchange Agreement nor any right, remedy, obligation or liability arising hereunder or by reason hereof will be assignable by either the Company, on the one hand, or the Investor or any Exchanging Investor, on the other hand, without the prior written consent of the other party.
11.    Taxation. The Investor acknowledges that, if an Exchanging Investor is a United States person for U.S. federal income tax purposes, either (a) the Company must be provided 
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with a correct taxpayer identification number (“TIN”) (generally a person’s social security or federal employer identification number) and certain other information on a properly completed and executed Internal Revenue Service (“IRS”) Form W-9, which is provided herein on Exhibit C attached to the Exchange Agreement, or (b) another basis for exemption from backup withholding must be established. The Investor further acknowledges that, if an Exchanging Investor is not a United States person for U.S. federal income tax purposes, the Company must be provided the appropriate properly completed and executed IRS Form W-8, attesting to that non-U.S. Exchanging Investor’s foreign status and certain other information as may be reasonably necessary to reduce or eliminate any withholding or deduction, including information establishing an exemption from withholding under Sections 1471 through 1474 of the Internal Revenue Code of 1986, as amended. The Investor further acknowledges that any Exchanging Investor may be subject to 30% U.S. federal withholding on amounts, if any, attributable to accrued and unpaid interest, or 24% U.S. federal backup withholding on certain payments or deliveries made to such Exchanging Investor unless such Exchanging Investor properly establishes an exemption from, or a reduced rate of, such withholding or backup withholding.
12.    Waiver of Jury Trial. EACH OF THE COMPANY, THE INVESTOR AND THE EXCHANGING INVESTORS IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY LEGAL PROCEEDING ARISING OUT OF THE TRANSACTIONS CONTEMPLATED BY THIS EXCHANGE AGREEMENT.
13.    Governing Law. This Exchange Agreement will be governed by and construed in accordance with the laws of the State of New York.
14.    Section and Other Headings. The section and other headings contained in this Exchange Agreement are for reference purposes only and will not affect the meaning or interpretation of this Exchange Agreement.
15.    Counterparts. This Exchange Agreement may be executed in any number of counterparts, each of which when so executed and delivered will be deemed to be an original and all of which together will be deemed to be one and the same agreement. Delivery of an executed signature page to this Exchange Agreement by facsimile or other electronic transmission (including pdf format) will be effective as delivery of a manually executed counterpart hereof.
16.    Notices. All notices and other communications to the Company provided for herein will be in writing and will be deemed to have been duly given if delivered personally or sent by nationally recognized overnight courier service or by registered or certified mail, return receipt requested, postage prepaid to the following addresses (or such other address as either party may have hereafter specified by notice in writing to the other): (a) if to the Company, Perficient, Inc., 555 Maryville University Drive, Suite 600, Saint Louis, Missouri 63141, Attention: General Counsel; and (b) if to the Investor, the address provided on the signature page below.
17.    Binding Effect. The provisions of this Exchange Agreement will be binding upon and accrue to the benefit of the parties hereto and the Exchanging Investors and their respective heirs, legal representatives, successors and permitted assigns.
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18.    Notification of Changes. The Investor hereby covenants and agrees to notify the Company upon the occurrence of any event prior to the Closing that would cause any representation, warranty, or covenant of the Investor, made on behalf of itself and each Exchanging Investor, contained in this Exchange Agreement to be false or incorrect.
19.    Severability. If any term or provision of this Exchange Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or unenforceability will not affect any other term or provision of this Exchange Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction.
20.    Reliance by Jefferies and Morgan Stanley. Each of Jefferies and Morgan Stanley may rely on each representation and warranty of the Company and of the Investor, made on behalf of itself and each Exchanging Investor, herein or pursuant to the terms hereof with the same force and effect as if such representation or warranty were made directly to Jefferies or Morgan Stanley, as applicable. Each of Jefferies and Morgan Stanley will be a third-party beneficiary of this Exchange Agreement to the extent provided in this Section 20.
[Remainder of Page Intentionally Left Blank; Signature Page Follows]

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In Witness Whereof, the undersigned has executed this Exchange Agreement as of the date first written above.
															
			Investor:		
					
					
			Legal Name
					
					
			By:		
				Name:	
				Title:	
					
					
	Investor Address:				
	Telephone:				
					
	Country (and, if applicable, State) of Residence			
					
				
					
	Taxpayer Identification Number:			
					

[Signature Page to Exchange Agreement]

																		
			PERFICIENT, INC.
						
						
			By:	
				Name:		
				Title:		
						
						
						
						

[Signature Page to Exchange Agreement]

EXHIBIT A
Exchanging Investor Information
(Complete the Following Form for Each Exchanging Investor)
															
	Legal Name of Exchanging Holder:	
					
	Aggregate principal amount of Old Notes to be exchanged (must be a multiple of $1,000):	$	,000
					
	Exchanging Holder’s Address:	
		
		
	Telephone:	
	Country (and, if applicable, State) of Residence:	
	Taxpayer Identification Number:	
					
	Account for Old Notes		Account for Exchange Shares		Wire Instructions for Cash Consideration
					
	DTC Participant Number:		DTC Participant Number:		Bank Routing #:
					
					
	DTC Participant Name:		DTC Participant Name:		SWIFT Code:
					
					
	DTC Participant Phone Number:		DTC Participant Phone Number:		Bank Address:
					
					
	DTC Participant Contact Email:		DTC Participant Contact Email:		
					
					
			Account # at DTC Participant:		Account Number:
					
					
					Account Name:
					

            
A-1

EXHIBIT B
Exchange Procedures
NOTICE TO INVESTOR
    Attached are Investor Exchange Procedures for the settlement of the exchange (the “Exchange”) of 1.250% Convertible Senior notes due 2025, CUSIP 71375U AD3 (the “Old Notes”) of Perficient, Inc. (the “Company”) for (1) cash (the “Cash Consideration”); and (2) shares of the Company’s common stock, $0.001 par value per share, CUSIP 71375 U101 (the “Exchange Shares”) (collectively, the “Exchange Consideration”), pursuant to the Exchange Agreement, dated as of November 4, 2021, between you and the Company, which is expected to occur on November 9, 2021. To ensure timely settlement, please follow the instructions for the Exchange as set forth on the following page.
    Your failure to comply with the attached instructions may delay your receipt of the Exchange Consideration.
    If you have any questions, please contact Suraj Vasishtha at (212) 708-2727 or svasishtha@jefferies.com or Kent Bischoff at (212) 708-2861 or kbischoff@jefferies.com.
    Thank you.

B-1

Delivery of the Old Notes
You must direct the eligible DTC participant through which you hold a beneficial interest in the Old Notes to post on November 9, 2021, no later than 9:30 a.m., New York City time, withdrawal instructions through DTC via DWAC for the aggregate principal amount of Old Notes (CUSIP #71375U AD3) set forth in Exhibit B.1 of the Exchange Agreement to be exchanged. It is important that this instruction be submitted and the DWAC posted on November 9, 2021; if it is posted before November 9, 2021, then it will expire unaccepted and will need to be re-posted on November 9, 2021.
To receive the Exchange Shares
You must direct your eligible DTC participant through which you wish to hold a beneficial interest in the Exchange Shares to post on November 9, 2021, no later than 9:30 a.m., New York City time, a deposit instruction through DTC via DWAC for the aggregate number of Exchange Shares to which you are entitled pursuant to the Exchange (calculated as the product, rounded down to the nearest whole number, of (x) 8.6004 shares and (y) the principal amount (expressed in thousands) of the Old Notes being exchanged). It is important that this instruction be submitted and the DWAC posted on November 9, 2021; if it is posted before November 9, 2021, then it will expire unaccepted and will need to be re-posted on November 9, 2021.
Closing
On November 9, 2021, after the Company receives your Old Notes and your delivery instructions as set forth above, and subject to the satisfaction of the conditions to Closing as set forth in your Exchange Agreement, the Company will pay the Cash Consideration deliver the Exchange Shares in accordance with the delivery instructions above.

B-2

Exhibit C
Under U.S. federal income tax law, a holder who exchanges Old Notes for the Exchange Consideration generally must provide such holder’s correct taxpayer identification number (“TIN”) on IRS Form W-9 (attached hereto) or otherwise establish a basis for exemption from backup withholding. A TIN is generally an individual holder’s social security number or a holder’s employer identification number. If the correct TIN is not provided, the holder may be subject to a $50 penalty imposed by the IRS. In addition, certain payments made to holders may be subject to U.S. backup withholding tax (currently set at 24% of the payment). If a holder is required to provide a TIN but does not have the TIN, the holder should consult its tax advisor regarding how to obtain a TIN. Certain holders are not subject to these backup withholding and reporting requirements. Non-U.S. Holders generally may establish their status as exempt recipients from backup withholding by submitting a properly completed applicable IRS Form W-8 (available from the Company or the IRS at www.irs.gov), signed, under penalties of perjury, attesting to such holder’s exempt foreign status. U.S. backup withholding is not an additional tax. Rather, the U.S. federal income tax liability of persons subject to backup withholding will be reduced by the amount of tax withheld. If withholding results in an overpayment of taxes, a refund may be obtained provided that the required information is timely furnished to the IRS. Holders are urged to consult their tax advisors regarding how to complete the appropriate forms and to determine whether they are exempt from backup withholding or other withholding taxes.

C-1Exhibit 10.1

 

Execution Version

 

SPONSOR SUPPORT AGREEMENT

 

This Sponsor Support Agreement (this “Agreement”)
is made as of November 9, 2021, by and among GT Gettaxi ListCo, a Cayman Islands exempted company (“Pubco”), Rosecliff
Acquisition Corp I, a Delaware corporation (“SPAC”), Rosecliff Acquisition Sponsor I LLC, a Delaware limited liability
company (“Sponsor”), and the undersigned individuals, each of whom is a director and/or officer of SPAC (the “Insiders”
and, together with Sponsor, the “Voting Parties” and each a “Voting Party”).

 

WHEREAS, contemporaneously with the execution
and delivery of this Agreement, (i) SPAC, (ii) GT Gettaxi Limited, a Cyprus corporation, (iii) Pubco, (iv) GT Gettaxi SPV, a Cayman Islands
exempted company (“SPV Holdco”), (v) GT Gettaxi Merger Sub 1, a Cayman Islands exempted company (“Merger Sub
I”), (vi) Gett Merger Sub, Inc., a Delaware corporation (“Merger Sub II”) and (vii) Dooboo Holding Limited,
a Cyprus corporation (“Dooboo”) entered into a Business Combination Agreement (as the same may be amended from time
to time, the “Business Combination Agreement”), pursuant to which, at the Closing, (a) Pubco will acquire all of the
issued and outstanding ordinary shares, par value $0.01 per share, of Pubco (“Ordinary Shares”) held by Dooboo from
Dooboo in exchange for such par value in cash, (b) following Pubco’s receipt of the PIPE Financing Amount and issuance of Ordinary
Shares in exchange for the PIPE Financing Amount, SPV Holdco will merge with and into Merger Sub I (the “SPV Holdco Merger”),
with Merger Sub I surviving as a wholly owned, direct subsidiary of Pubco and (c) following the consummation of the SPV Holdco Merger,
Merger Sub II will merge with and into the SPAC, with the SPAC surviving as a wholly owned, direct subsidiary of Pubco (collectively,
the “Business Combination”).

 

NOW, THEREFORE, in consideration of the
premises and for other good and valuable consideration, the receipt, sufficiency and adequacy of which are hereby acknowledged, the parties
hereto agree as follows:

 

1 Definitions.
As used herein, the term “Voting Shares” shall mean, taken together, all securities of SPAC beneficially owned (as
such term is defined in Rule 13d-3 under the Exchange Act, excluding shares of stock underlying unexercised options or warrants, but including
any shares of stock acquired upon exercise of such options or warrants) (“Beneficially Owned” or “Beneficial
Ownership”) by any Voting Party, including any and all securities of SPAC acquired and held in such capacity subsequent to the
date hereof. Capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Business Combination
Agreement.

 

2 Representations
and Warranties of the Voting Parties. Each Voting Party on its own behalf hereby represents and warrants to the other parties hereto,
severally and not jointly, with respect to such Voting Party and such Voting Party’s Beneficial Ownership of its Voting Shares set
forth on Annex A as follows:

 

(a) Organization;
Authority. If such Voting Party is not an individual, such Voting Party is duly organized, validly existing and in good standing under
the laws of the jurisdiction in which it is organized, and such Voting Party has all necessary power and authority to execute, deliver
and perform its obligations under this Agreement and to consummate the transactions contemplated hereby. If such Voting Party is an individual,
such Voting Party has full legal capacity, right and authority to execute, deliver and perform its obligations under this Agreement and
the consummate the transactions contemplated hereby. This Agreement has been duly authorized, executed and delivered by each Voting Party.
Assuming due authorization, execution and delivery by each other party to this Agreement, this Agreement constitutes a legally valid and
binding obligation of such Voting Party, enforceable against such Voting Party in accordance with its terms, except as enforcement may
be limited by applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or similar laws affecting creditors’
rights generally and by principles governing the availability of equitable remedies.

 

(b) No
Consent. No consent, approval or authorization of, or designation, declaration or filing with, any Governmental Authority or other
Person on the part of such Voting Party is required in connection with the execution, delivery and performance by such Voting Party of
this Agreement and the transactions contemplated hereby. If such Voting Party is a natural person, no consent of such Voting Party’s
spouse or creditor is necessary under any “community property” or other laws for the execution and delivery of this Agreement
or the consummation of the transactions contemplated hereby. If such Voting Party is a trust, no consent of any beneficiary is required
for the execution and delivery of this Agreement or the consummation of the transactions contemplated hereby.

 

     

     

    

 

(c) No
Conflicts. Neither the execution and delivery of this Agreement, nor the consummation of the transactions contemplated hereby, nor
compliance with the terms hereof, will violate, conflict with or result in a breach of, or constitute a default (with or without notice
or lapse of time or both) under any provision of, any trust agreement, loan or credit agreement, note, bond, mortgage, indenture, lease
or other agreement, instrument, permit, concession, franchise, license, judgment, order, notice, decree, statute, law, ordinance, rule
or regulation applicable to such Voting Party or to such Voting Party’s property or assets (including the Voting Shares), or, if
such Voting Party is not an individual, such Voting Party’s Governing Documents, in each case, that would reasonably be expected
to prevent or delay the consummation of the Business Combination or that would reasonably be expected to prevent Voting Party from fulfilling
its obligations under this Agreement and consummating the transactions contemplated hereby.

 

(d) Ownership
of Shares. Except pursuant to the arrangements referred to in the following sentence, such Voting Party (i) Beneficially Owns its
Voting Shares free and clear of all Liens (other than restrictions under applicable securities laws or SPAC’s Governing Documents)
and (ii) has the sole power to vote or cause to be voted its Voting Shares. Except pursuant hereto and pursuant to (i) the Business Combination
Agreement, (ii) that certain Warrant Agreement, dated as of February 11, 2021, by and between SPAC and Continental Stock Transfer &
Trust Company, a New York corporation, (iii) the Registration Rights Agreement, dated February 11, 2021, by and between SPAC and the Voting
Parties, (iv) the Subscription Agreement, and (v) if such Voting Party is not an individual, the Governing Documents of such Voting Party,
there are no options, warrants or other rights, agreements, arrangements or commitments of any character to which such Voting Party is
a party relating to the pledge, acquisition, disposition, transfer or voting of its Voting Shares prior to the consummation of the Business
Combination and there are no voting trusts or voting agreements with respect to such Voting Party’s Voting Shares. Such Voting Party
does not Beneficially Own (i) any Voting Shares, other than the Voting Shares set forth on Annex A or (ii) any options, warrants
or other rights to acquire any additional shares of common stock of SPAC (“SPAC Common Stock”) or any security exercisable
for or convertible into SPAC Common Stock, other than as set forth on Annex A.

 

(e) No
Litigation. There is no Action pending, or, to the knowledge of such Voting Party, threatened, against such Voting Party that would
reasonably be expected to materially impair or materially adversely affect the ability of such Voting Party to perform its obligations
hereunder or to consummate the transactions contemplated by this Agreement.

 

3 Agreement
to Vote Shares; Further Assurances.

 

(a) Each
Voting Party agrees, during the term of this Agreement, (x) to appear at each meeting of the stockholders of SPAC relating to the Business
Combination (a “Stockholder Meeting”) or otherwise cause its Voting Shares to be counted as present thereat for the purpose
of establishing a quorum; (y) to vote or cause to be voted the Voting Shares that he, she or it Beneficially Owns, at every meeting (or
in connection with any request for action by written consent) of the stockholders of SPAC at which the Transactions are considered and
at every adjournment or postponement thereof, and (z) to execute a written consent or consents if stockholders of SPAC are requested to
vote their shares through the execution of an action by written consent, in each case to the extent such Voting Shares are entitled to
vote thereon pursuant to the SPAC’s Governing Documents: (i) in favor of (A) the Business Combination Agreement and the Transactions,
including the SPAC Merger, (B) any proposal to adjourn or postpone such meeting of stockholders of SPAC to a later date if there are not
sufficient votes to approve the Business Combination Agreement or the Transactions, including the SPAC Merger, and (C) any other matter
reasonably necessary to the consummation of the Transactions and considered and voted upon by the stockholders of SPAC; and (ii) against
(A) any proposal or offer from any Person (other than Pubco or any of its Affiliates) concerning (1) a merger, consolidation, liquidation,
recapitalization, share exchange or other business combination transaction involving SPAC, (2) the issuance or acquisition of shares of
capital stock or other equity securities of SPAC or (3) the sale, lease, exchange or other disposition of any significant portion of SPAC’s
properties or assets; (B) any action, proposal, transaction or agreement that could reasonably be expected to result in a breach of any
covenant, representation or warranty or any other obligation or agreement of (1) SPAC under the Business Combination Agreement or (2)
such Voting Party hereunder; and (C) any action, proposal, transaction or agreement that could reasonably be expected to impede, interfere
with, delay, discourage, adversely affect or inhibit the timely consummation of the Business Combination or the fulfillment of SPAC’s
conditions under the Business Combination Agreement or change in any manner the dividend policy or capitalization, including the voting
rights, of any class of shares of SPAC (including any amendments to the Governing Documents), except as contemplated by this Agreement.

 

    2

     

    

 

(b) From
time to time, at the request of SPAC, each Voting Party shall take, all such further actions, as may be necessary or appropriate to, in
the most expeditious manner reasonably practicable, effect the purposes of this Agreement, and execute customary documents incident to
the consummation of the Business Combination.

 

4 No
Voting Trusts or Other Arrangement. Each Voting Party agrees that during the term of this Agreement Voting Party will not, and will
not permit any entity under Voting Party’s control to, deposit any Voting Shares in a voting trust, grant any proxies with respect
to the Voting Shares or subject any of the Voting Shares to any arrangement with respect to the voting of the Voting Shares except as
contemplated in this Agreement. Each Voting Party hereby revokes any and all previous proxies and attorneys in fact with respect to the
Voting Shares.

 

5 Transfer
and Encumbrance. Each Voting Party agrees that during the term of this Agreement, such Voting Party will not, directly or indirectly,
transfer (including by operation of law), sell, offer, exchange, assign, pledge or otherwise dispose of or encumber (“Transfer”)
any of his, her or its Voting Shares or enter into any contract, option or other agreement with respect to, or consent to, a Transfer
of any of his, her or its Voting Shares or such Voting Party’s voting or economic interest therein. Any attempted Transfer of Voting
Shares or any interest therein in violation of this Section 5 shall be null and void. This Section 5 shall not prohibit a Transfer
of Voting Shares by any Voting Party (or prohibit any Voting Party from entering into any contract, option or other agreement with respect
to, or prohibit such Voting Party from consenting to, a Transfer of any of his, her or its Voting Shares or such Voting Party’s
voting or economic interest therein) (i) to any Affiliates or any member of such Voting Party’s immediate family or any Affiliates
of such Voting Party, (ii) by gift to (a) in the case of an individual, a member of such Voting Party’s immediate family, (b) a
trust, the beneficiary of which is, or is an Affiliate of, such Voting Party or, in the case of an individual, a member of such Voting
Party’s immediate family, or (c) a charitable organization, (iii) in the case of an individual, by virtue of laws of descent and
distribution upon death, (iv) in the case of an individual, pursuant to a qualified domestic relations order or in connection with a divorce
settlement, (v) in the case of a trust, by distribution to one or more of the permissible beneficiaries of such trust, (vi) in the event
of SPAC’s liquidation prior to SPAC’s completion of the Business Combination or (vii) in the case of an entity, by virtue
of the laws of such Voting Party’s jurisdiction of incorporation or organization, such Voting Party’s organizational documents
or the rights attaching to the equity interests in such Voting Party upon dissolution of such Voting Party; provided, however, that in
the case of clauses (i) through (v), as a pre-condition to such Transfer, the transferee must agree in a writing, reasonably satisfactory
in form and substance to SPAC and Pubco, to be bound by all of the terms of this Agreement. For purposes of this Agreement, “immediate
family” shall mean with respect to any natural person, any of the following: such person’s spouse or domestic partner, the siblings
of such person and his or her spouse or domestic partner, and the direct descendants and ascendants (including adopted and step children
and parents) of such person and his or her spouses or domestic partners and siblings.

 

6 Appraisal
and Dissenters’ Rights. Each Voting Party hereby (i) waives, and agrees not to assert or perfect, any rights of appraisal or
rights to dissent from the SPAC Merger that Voting Party may have by virtue of ownership of the Voting Shares and (ii) agrees not to commence
or participate in any claim, derivative or otherwise, against SPAC relating to the negotiation, execution or delivery of this Agreement
or the Business Combination Agreement or the consummation of the Business Combination, including any claim (1) challenging the validity
of, or seeking to enjoin the operation of, any provision of this Agreement or (2) alleging a breach of any fiduciary duty of the Board
of Directors of SPAC in connection with this Agreement, the Business Combination Agreement or the Business Combination.

 

7 Waiver
of Anti-Dilution Provisions. Sponsor hereby irrevocably and unconditionally (but subject to the consummation of the Business Combination)
waives any adjustment to the Initial Conversion Ratio (as defined in the Amended and Restated Certificate of Incorporation of SPAC (the
“Certificate of Incorporation”)) to which it would otherwise be entitled pursuant to Section 4.3(b)(ii) of the Certificate
of Incorporation that would result from the issuance of shares of Class A Common Stock or other equity-linked securities pursuant to the
Subscription Agreements or otherwise in connection with the Transactions.

 

    3

     

    

 

8 Vesting
Provisions.

 

(a) Sponsor
agrees that, on the Closing Date, 25% of the Ordinary Shares to be received by Sponsor at the Closing in accordance with the terms of
the Business Combination Agreement in exchange for the shares of Class B common stock, par value $0.0001 per share, of SPAC (the “Founder
Shares”) (or the shares of SPAC Class A Common Stock into which the Founder Shares were converted in connection with the Transactions)
(the “Earnout Shares”), shall be transferred to an escrow agent reasonably acceptable to Sponsor and Pubco (the “Escrow
Agent”), and such Earnout Shares shall thereafter be held by the Escrow Agent in accordance with the terms of this Section 8,
the Business Combination Agreement and an escrow agreement reasonably acceptable to Pubco and Sponsor.

 

(b) The
Earnout Shares shall automatically vest in Sponsor, and Sponsor and Pubco shall cause the Earnout Shares to be released to Sponsor promptly,
following the first date during the Earnout Period on which the Share Price Level equals or exceeds $12.50 (as equitably adjusted on account
of any subdivision, capitalization, share dividend, combination, reclassification or similar equity restructuring transaction or any changes
in the Ordinary Shares as a result of a merger, consolidation, reorganization, recapitalization, business combination or similar transaction
involving Pubco) (the “Price Target”). Subject to Section 8(c), in the event that the Price Target is not met during
the Earnout Period, then this Section 8 shall terminate and no Earnout Shares shall vest in Sponsor hereunder and such shares shall be
forfeited, released and returned to Pubco upon the expiration of the Earnout Period.

 

(c) If,
during the Earnout Period, there is a Pubco Sale that will result in the holders of Ordinary Shares receiving a per share price (based
on the value of the cash, securities or in-kind consideration being delivered in respect of Ordinary Shares, as determined in good faith
by the Board of Directors of Pubco) (the “Per Share Price”) equal to or in excess of the Price Target, then immediately
prior to the consummation of such Pubco Sale (a) if the Price Target has not previously been met, it shall be deemed to have been met
and (b) Sponsor and Pubco shall cause the Earnout Shares to be released to Sponsor and Sponsor shall be eligible to participate in such
Pubco Sale. If, during the Earnout Period, there is a Pubco Sale that will result in the holders of Ordinary Shares receiving a Per Share
Price that is less than the Price Target, then this Section 8 shall terminate and no Earnout Shares shall vest in Sponsor hereunder in
connection with or following completion of the Pubco Sale and such shares shall be forfeited upon the completion of the Pubco Sale.

 

(d) As used
in this Section 8, (i) the term “Earnout Period” means the period beginning on the date that is sixty (60) days after
the Closing Date and ending on the date that is the fifth anniversary of the Closing Date; (ii) the term “Share Price Level”
means the Pubco VWAP for any twenty (20) trading days (which may or may not be consecutive) within any consecutive thirty (30) trading
day period.

 

9 Sponsor
Lock-up.

 

(a) Sponsor
agrees that it shall not effectuate a Transfer of the Restricted Securities that are held by Sponsor during the period commencing on the
Closing Date and ending on (i) for 50% of the Restricted Securities held by Sponsor, the earlier of (1) one (1) year after the Closing
Date and (2) the date on which the Pubco VWAP is equal to or greater than $12.50 (as equitably adjusted on account of any subdivision,
share split or consolidation, capitalization, share dividend, reorganization, combination, reclassification or similar equity restructuring
transaction or any changes in the Ordinary Shares as a result of a merger, consolidation, reorganization, recapitalization, business combination
or similar transaction involving Pubco) for a period of at least twenty (20) trading days (which may or may not be consecutive) within
any consecutive thirty (30) trading day period commencing after the Closing Date and (ii) for all other Restricted Securities held by
Sponsor, one (1) year after the Closing Date (the “Sponsor Lock-Up Period” and such restrictions on Transfer during
the Sponsor Lock-Up Period, the “Sponsor Lock-Up”).

 

    4

     

    

 

(b) Notwithstanding
the provisions set forth in Section 9(a), Transfers of the Restricted Securities that are held by Sponsor (and that have complied with
this Section ‎9(b)) are permitted:

 

(i) to
any Affiliates of Sponsor;

 

(ii) by
gift to (A) a trust, the beneficiary of which is, or is an Affiliate of, Sponsor, or (B) a charitable organization;

 

(iii) by
virtue of the laws of Sponsor’s jurisdiction of incorporation or organization, Sponsor’s organizational documents or the rights
attaching to the equity interests in Sponsor upon dissolution of Sponsor;

 

(iv) the
exercise of any options, warrants or other convertible securities to purchase Ordinary Shares (which exercises may be effected on a cashless
basis to the extent the instruments representing such options or warrants permit exercises on a cashless basis); provided, that
any Ordinary Shares issued upon such exercise shall be subject to the Sponsor Lock-Up Period;

 

(v) in
the event of the Company’s liquidation, merger, share exchange, reorganization 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 (including,
for the avoidance of doubt, a Pubco Sale);

 

(vi) in
connection with any bona fide mortgage, pledge, hypothecation, encumbrance or other grant of a security interest to an unaffiliated financial
institution in connection with any bona fide loan or debt transaction or enforcement thereunder, including foreclosure thereof (so long
as any such mortgage, pledge, hypothecation, encumbrance or grant of security interest shall be on terms consistent with customary loan
or debt transactions), and Sponsor shall provide the Company with written notice prior to entering into such transaction; and

 

(vii) for
purposes of satisfying any withholding and/or other taxes that become payable in connection with the exchange of SPAC Private Warrants
held by Sponsor for Pubco Private Warrants in connection with the consummation of the Business Combination;

 

provided, that in the case of clauses
(i) through (iii), such transferee, to the extent not already party hereto, must enter into a written agreement agreeing to be bound by
the restrictions herein.

 

(c) If
any Transfer is made or attempted contrary to the provisions of this Agreement, such Transfer shall be null and void ab initio,
and the Company shall refuse to recognize any such transferee of the Restricted Securities as one of its equity holders for any purpose.
In order to enforce this Section ‎9, the Company may impose stop-transfer instructions with respect to the Restricted Securities
of Sponsor (and any permitted transferees and assigns thereof) until the end of the Sponsor Lock-Up Period.

 

(d) During
the Sponsor Lock-Up Period, each certificate (if issued) or book entry position evidencing any Restricted Securities subject to the Sponsor
Lock-Up Period shall be stamped, notated or otherwise imprinted with a legend in substantially the following form, in addition to any
other applicable legends:

 

“THE SECURITIES REPRESENTED BY THIS
CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER SET FORTH IN A Sponsor Support AGREEMENT,
DATED AS OF November 9, 2021, BY AND AMONG THE ISSUER OF SUCH SECURITIES (THE “ISSUER”),
THE ISSUER’S SECURITY HOLDER NAMED THEREIN and the other parties thereto, AS AMENDED.
A COPY OF SUCH SPONSOR SUPPORT AGREEMENT WILL BE FURNISHED WITHOUT CHARGE BY THE ISSUER TO THE HOLDER HEREOF UPON WRITTEN REQUEST.”

 

    5

     

    

 

(e) For
the avoidance of any doubt, Sponsor shall retain all of the rights of a holder of the Restricted Securities held by Sponsor during the
Sponsor Lock-Up Period, including, where applicable, the right to vote any Restricted Securities, in each case, for so long as Sponsor
owns such Restricted Securities.

 

(f) As
used in this Section ‎9, (i) “Transfer” shall mean the (1) sale 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 U.S. Securities and Exchange Commission promulgated thereunder with
respect to, any security, (2) 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 (3) public announcement of any intention to effect any transaction specified in clause (1) or (2), and (ii) “Restricted Securities”
shall mean the Ordinary Shares and Pubco Private Warrants to be received by Sponsor pursuant to the Business Combination Agreement, together
with any (1) securities paid as dividends or distributions with respect to such securities, (2) securities into which such securities
are exchanged or converted and (3) securities issued or issuable upon the exercise of the Pubco Private Warrants.

 

(g) Notwithstanding
anything to the contrary herein, in the event that the board of directors of Pubco (the “Pubco Board”) (i) amends or
otherwise modifies any terms of the Lock-Up (as defined in the Amended and Restated Memorandum and Articles of Association of Pubco (the
“Articles of Association”)), then such amendment or modification shall be deemed to apply to the Sponsor Lock-Up mutatis
mutandis, or (ii) waives or otherwise releases the Lock-Up (as defined in the Articles of Association) with respect to any Restricted
Shares (as defined in the Articles of Association), then such waiver or release shall be deemed to apply to the Restricted Securities
on a proportionate basis determined by reference to (x) the number of Restricted Shares (as defined in the Articles of Association) subject
to such waiver or release divided by (y) the aggregate number of Restricted Shares.

 

10 Redemption
Rights. Each Voting Party agrees not to exercise any right to redeem any Voting Shares Beneficially Owned as of the date hereof or
acquired and held in such capacity subsequent to the date hereof.

 

11 Termination.
This Agreement shall automatically terminate upon the earliest to occur of (i) the SPAC Merger Effective Time and (ii) the date on which
the Business Combination Agreement is validly terminated in accordance with its terms; provided that (x) in the case of clause (i) those
rights and obligations that are explicitly provided for to survive after the Closing (including Section 8, Section 9 and any related definitions
used therein) shall continue to apply in accordance with their terms and (y) this Section 11 and Sections 13, 14, 15, 16, 17, 18, 20 and
21 hereof shall continue to apply. In the event of a valid termination of the Business Combination Agreement in accordance with its terms,
this Agreement shall be of no force and effect and the parties agree that the Prior Letter Agreement (as defined herein) shall be reinstated
and shall be effective and binding upon them in accordance with its terms notwithstanding the termination of such agreement herein. No
such termination or reinstatement of the Prior Letter Agreement shall relieve any Voting Party, SPAC or Pubco from any liability resulting
from a willful breach of this Agreement occurring prior to such termination or reinstatement.

 

12 No
Agreement as Director or Officer. Each Voting Party is signing this Agreement solely in its capacity as a stockholder of SPAC. No
Voting Party makes any agreement or understanding in this Agreement in such Voting Party’s capacity (or in the capacity of any Affiliate,
partner or employee of Voting Party) as a director or officer of SPAC or any of its Subsidiaries (if Voting Party holds such office).
Nothing in this Agreement will limit or affect any actions or omissions taken by a Voting Party (or any Affiliate, partner or employee
of Voting Party) in his, her or its capacity as a director or officer of SPAC, and no actions or omissions taken in any Voting Party’s
capacity (or in the capacity of any Affiliate, partner or employee of Voting Party) as a director or officer shall be deemed a breach
of this Agreement. Nothing in this Agreement will be construed to prohibit, limit or restrict a Voting Party (or any Affiliate, partner
or employee of Voting Party) from exercising his or her fiduciary duties as an officer or director to SPAC or its Subsidiaries.

 

13 Specific
Enforcement. It is agreed and understood that monetary damages would not adequately compensate an injured party for the breach of
this Agreement by any party hereto and, accordingly, that this Agreement shall be specifically enforceable, in addition to any other remedy
to which such injured party is entitled at law or in equity, and that any breach of this Agreement shall be the proper subject of a temporary
or permanent injunction or restraining order. Further, each party hereto waives any claim or defense that there is an adequate remedy
at law for such breach or threatened breach or an award of specific performance is not an appropriate remedy for any reason at law or
equity and agrees that a party’s rights would be materially and adversely affected if the obligations of the other parties under
this Agreement were not carried out in accordance with the terms and conditions hereof.

 

    6

     

    

 

14 Entire
Agreement. This Agreement supersedes all prior agreements, written or oral, among the parties hereto with respect to the subject matter
hereof and contains the entire agreement among the parties with respect to the subject matter hereof. Any provision of this Agreement
may be amended or waived if, but only if, such amendment or waiver is in writing and is signed, in the case of an amendment, by each party
to this Agreement, or, in the case of a waiver, by the party against whom the waiver is to be effective. No waiver of any provisions hereof
by either party shall be deemed a waiver of any other provisions hereof by such party, nor shall any such waiver be deemed a continuing
waiver of any provision hereof by such party. Without limiting the generality of the foregoing, SPAC and each of the Voting Parties hereby
agree that as of the date of this Agreement, the letter agreement, dated as of February 11, 2021, by and among SPAC and the Voting Parties
(the “Prior Letter Agreement”) shall have no further force or effect unless and until this Agreement is terminated
pursuant to Section 11(ii).

 

15 Notices.
All notices and other communications hereunder shall be in writing and shall be given (and shall be deemed to have been duly given) by
delivery: (a) in person; (b) by e-mail (having obtained electronic delivery confirmation thereof); (c) by reputable, nationally recognized
overnight courier service; or (d) by registered or certified mail, pre-paid and return receipt requested; provided, however, that notice
given pursuant to clauses (c) and (d) above shall not be effective unless a duplicate copy of such notice is also given in person or by
e-mail (having obtained electronic delivery confirmation thereof). Such communications, to be valid, must be addressed as follows:

 

if to SPAC, to:

 

Rosecliff Acquisition Corp I

767 Fifth Avenue, 34th Floor

New York, NY 10022

Attention: Michael Murphy

Email: mm@rosecliffspac.com

 

with a copy to:

 

Latham & Watkins LLP

811 Main Street

Houston, TX 77002

Attention: Ryan J. Maierson; John M. Greer

Email: Ryan.Maierson@lw.com; John.Greer@lw.com

 

if to Pubco to:

 

c/o GT Gettaxi (UK) Limited

Floor 2, Elm Yard

13-16 Elm Street

London WC1X 0BJ

United Kingdom

Attention: Global Legal Team

Email: global.legal@gett.com

with a copy to:

 

Davis Polk & Wardwell LLP

450 Lexington Avenue

New York, NY 10017

Attention: Lee Hochbaum, Michael Kaplan, Yasin Keshvargar

Email: lee.hochbaum@davispolk.com; michael.kaplan@davispolk.com;

 yasin.keshvargar@davispolk.com

 

if to the Voting Parties(s), to the address(es) set forth on Annex
A hereto,

 

or to such other address or to the attention of such Person or Persons
as the recipient party has specified by prior written notice to the sending party (or in the case of counsel, to such other readily ascertainable
business address as such counsel may hereafter maintain). If more than one method for sending notice as set forth above is used, the earliest
notice date established as set forth above shall control.

 

    7

     

    

 

16 Governing
Law. This Agreement shall be governed by and construed in accordance with the Laws of the State of New York, without giving effect
to any choice of Law or conflict of Law provision or rule (whether of the State of New York or any other jurisdiction) that would cause
the application of the law of any jurisdiction other than the State of New York. Each Party (a) irrevocably consents to the service of
the summons and complaint and any other process in any action or proceeding relating to the transactions contemplated by this Agreement,
for and on behalf of itself or any of its properties or assets, in accordance with this Section 16 or in such other manner as may be permitted
by applicable Law, that such process may be served in the manner of giving notices in this Section 16 and that nothing in this Section
16 shall affect the right of any Party to serve legal process in any other manner permitted by applicable Law, (b) irrevocably and unconditionally
consents and submits itself and its properties and assets in any action or proceeding to the exclusive general jurisdiction of any New
York State court or federal court of the United States of America, in each case, sitting in New York County, and any appellate court thereof
in the event any dispute or controversy arises out of this Agreement or the transactions contemplated hereby or thereby, or for recognition
and enforcement of any Order in respect thereof, (c) agrees that it will not attempt to deny or defeat such personal jurisdiction by motion
or other request for leave from any such court, (d) agrees that any actions or proceedings arising in connection with this Agreement or
the transactions contemplated hereby or thereby shall be brought, tried and determined only in such New York State court or, to the extent
permitted by Law, in such federal court, (e) waives any objection that it may now or hereafter have to the venue of any such action or
proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the
same, and (f) agrees that it will not bring any action or proceeding relating to this Agreement or the transactions contemplated hereby
or thereby in any court other than the aforesaid courts. Each Party agrees that a final Order in any action or proceeding in such courts
as provided above shall be conclusive and may be enforced in other jurisdictions by suit on the Order or in any other manner provided
by applicable Law.

 

17 WAIVER
OF TRIAL BY JURY. THE PARTIES EACH HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM,
DEMAND, ACTION, OR CAUSE OF ACTION (I) ARISING UNDER THIS AGREEMENT OR (II) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE
DEALINGS OF THE PARTIES IN RESPECT OF THIS AGREEMENT OR ANY OF THE TRANSACTIONS RELATED HERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER
ARISING, AND WHETHER IN CONTRACT, TORT, EQUITY, OR OTHERWISE. THE PARTIES EACH HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND,
ACTION, OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY AND THAT THE PARTIES MAY FILE AN ORIGINAL COUNTERPART OF A COPY
OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY.

 

18 Severability.
In case any provision in this Agreement shall be held invalid, illegal or unenforceable in a jurisdiction, such provision shall be modified
or deleted, as to the jurisdiction involved, only to the extent necessary to render the same valid, legal and enforceable, and the validity,
legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired thereby nor shall the validity,
legality or enforceability of such provision be affected thereby in any other jurisdiction. Upon such determination that any term or other
provision is invalid, illegal or incapable of being enforced, the parties hereto will substitute for any invalid, illegal or unenforceable
provision a suitable and equitable provision that carries out, so far as may be valid, legal and enforceable, the intent and purpose of
such invalid, illegal or unenforceable provision.

 

    8

     

    

 

19 Counterparts.
This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, and all of which taken together shall
constitute one and the same instrument. The words “execution,” “signed,” “signature,” “delivery”
and words of like import in this Agreement or in any instruments, agreements, certificates, legal opinions, negative assurance letters
or other documents entered into or delivered pursuant to or in connection with this Agreement shall include images of manually executed
signatures transmitted by facsimile or other electronic format (including, without limitation, “pdf,” “tif” or
“jpg”) and other electronic signatures (including, without limitation, DocuSign and AdobeSign). The use of electronic signatures
and electronic records (including, without limitation, any contract or other record created, generated, sent, communicated, received or
stored by electronic means) shall be of the same legal effect, validity and enforceability as a manually executed signature or use of
a paper-based record-keeping system to the fullest extent permitted by applicable law, including the Federal Electronic Signatures in
Global and National Commerce Act, the New York State Electronic Signatures and Records Act and any other applicable law, including, without
limitation, any state law based on the Uniform Electronic Transactions Act or the Uniform Commercial Code.

 

20 Titles
and Headings. Titles and headings of sections of this Agreement are for convenience only and shall not affect the construction of
any provision of this Agreement.

 

21 Assignment;
Successors and Assigns; No Third Party Rights. Except as otherwise provided herein, this Agreement may not, without the prior written
consent of the other parties hereto, be assigned by operation of Law or otherwise, and any attempted assignment shall be null and void.
Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs,
successors, permitted assigns and legal representatives, and nothing herein, express or implied, it intended to or shall confer upon any
other Person any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.

 

22 Further
Assurances. Each party hereto shall execute and deliver such additional documents as may be necessary or desirable to give effect
to the transactions contemplated by this Agreement.

 

[Remainder of page intentionally left blank]

 

    9

     

    

 

IN WITNESS WHEREOF, the parties hereto have executed
and delivered this Sponsor Support Agreement as of the date first written above.

 

	 	 	GT GETTAXI LISTCO
	 	 
	 	By:	 
	 	 	Name:	    
	 	 	Title:	 

 

[Signature Page to Sponsor Support Agreement]

 

    10

     

    

 

	 	SPAC: Rosecliff Acquisition Corp I
	 	 
	 	By:	/s/ Michael P. Murphy
	 	 	Name: 	Michael P. Murphy
	 	 	Title:	Chief Executive Officer

 

[Signature Page to Sponsor Support Agreement]

 

    11

     

    

 

	 	SPONSOR:
	 	 
	 	ROSECLIFF ACQUISITION SPONSOR I LLC
	 	 	 
	 	By:	/s/ Michael P. Murphy
	 	 	Name: 	Michael P. Murphy
	 	 	Title:	Chief Executive Officer

 

[Signature Page to Sponsor Support Agreement]

 

    12

     

    

 

	 	INSIDERS:
	 	 
	 	/s/ Michael P. Murphy
	 	Michael P. Murphy
	 	 
	 	/s/ Jordan Zimmerman
	 	Jordan Zimmerman
	 	 
	 	/s/ Kieran Goodwin
	 	Kieran Goodwin
	 	 
	 	/s/ Brian Radecki
	 	Brian Radecki
	 	 
	 	/s/ Franklin S. Edmonds, Jr.
	 	Franklin S. Edmonds, Jr.
	 	 
	 	/s/ Heather Bellini
	 	Heather Bellini
	 	 

 

[Signature Page to Sponsor Support Agreement]

 

    13

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