Document:

Exhibit 10.30

 

Settlement
Agreement & Release

 

This Settlement Agreement
 & Release ("Agreement"), dated this 29th day of November, 2021, is by and between:

 

		·	Electromedical Technologies, Inc. a Delaware corporation having a principal place of business at 16561
N. 92nd Street, Ste. 101, Scottsdale, AZ 85260 ("EMED");

 

		·	Blue Ridge Enterprises, LLC, a California limited liability company (“Blue Ridge”), having
a principal place of business at 5256 South Mission Road, Ste. 104, Bonsall, CA 92003;

 

		·	Donald Steinberg (“Steinberg”), in his capacities as Blue Ridge’s sole member and manager
and as an individual, having an address of record of 3223 Sumac Road, Fallbrook CA; and,

 

		·	Dianna Kaplan (“Kaplan”), an individual and former spouse of Steinberg, with an address of
Le Chateau Village, 1 Rue De Saverdun, St. Martin D’Oydes 09100, France

 

EMED, Blue Ridge, Steinberg and Kaplan may be
collectively referred to as the “Parties.”

 

RECITALS:

 

Whereas,
beginning on December 14, 2018, and terminating on July 1, 2020, EMED issued to
Steinberg and Blue Ridge a series of promissory notes, an accounting of which is attached to this Agreement as Exhibit 1, containing all
principal and interest owed, and fully incorporated herein by reference. The Parties confirm that the promissory notes listed on Exhibit
1 fully and completely list all outstanding promissory notes issued by EMED to Steinberg or Blue Ridge as of the date hereof (the “EMED
Notes”).

 

WHEREAS,
Steinberg and Kaplan were formerly husband and wife. On June 15, 2020, Kaplan filed a petition for divorce
under case number 20FL003764N in the Superior Court for the State of California, County of San Diego. On April 16, 2021, the Court entered
judgment of dissolution of their marriage.

 

     1 

     

    

 

WHEREAS,
the judgment of dissolution included a global agreement executed between Steinberg and Kaplan (the “Global
Agreement”), which dealt with the resolution of many of the interests between Steinberg and Kaplan, including with respect to Electromedical
Technologies, Inc. By operation of the Global Agreement, among other provisions, Kaplan is entitled to fifty percent (50%) in and to all
of Steinberg’s right, title and interest in and to any Electromedical equity, rights, preferences, future issuances or other assets,
whether direct or indirect, including by way of Steinberg’s direct or indirect ownership of Blue Ridge or any other entity, including
by way of loan, note or agreement to or in favor of EMED or any of EMED’s shareholders, directors, officers, employees or affiliates,
including the EMED Notes.

 

WHEREAS,
EMED owes Blue Ridge and Steinberg a balance due of $231,500 in principal and $18,370.27 in interest
on all outstanding EMED Notes, totaling $249,870.27.

 

WHEREAS,
the Parties entered into good faith discussions to retire the balance of principal and interest owed
under the EMED Notes, and the Parties deem it to be in their shared best interests to avoid the commencement of legal action, including,
but not limited to (i) a civil action for damages filed in any court of competent jurisdiction, (ii) an arbitration in any venue, or (iii)
any other civil action of any kind or sort consistent with any applicable law and the EMED Notes, and to resolve any and all disputes
between them finally and forever regarding the EMED Notes in order to avoid the inconvenience, costs and expenses related to any and all
such legal actions, upon the terms and condition set forth herein, including the application of California law to this Agreement; and,

 

NOW
THEREFORE, in consideration for the mutual promises and covenants contained herein,
the sufficiency of which is hereby acknowledged, the Parties hereto agree as follows: 

 

Section 1.Incorporation
of the RECITALS clauses.

 

1.1.       The
Parties acknowledge that all of the representations set forth in the RECITALS clauses of this Agreement are incorporated herein by reference
and made a material part of this Agreement with the same force and effect as if more fully set forth here at. The Parties waive any rule
of contract construction or legal presumption that would prohibit any court of competent jurisdiction from construing or enforcing this
Agreement based upon the contents of the RECITALS above.

 

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Section 2.Settlement Payment,
Document Delivery; Release of All Claims.

 

2.1.       Settlement
Payment. Upon the execution of this Agreement, EMED will pay Kaplan in satisfaction of her interest under the Global Agreement in
the EMED Notes as follows:

 

2.2.       Upon
execution of this Agreement, EMED will immediately pay Kaplan sixty-two thousand, four hundred and sixty-seven dollars, and fifty-seven
cents ($62,467.57).

 

2.3.       Within
thirty business days of execution of this Agreement by the Parties, EMED will pay Kaplan sixty-two thousand, four hundred and sixty-seven
dollars, and fifty-seven cents ($62,467.57) (the payments described in Section 2.2 and 2.3, together, the “Funds”).

 

2.4.       Further,
upon the execution of this Agreement, EMED shall issue to Blue Ridge two million (2,000,000) shares of EMED restricted common stock in
complete, full and final satisfaction of any and all claims Steinberg and Blue Ridge has or may have, know or unknown, against EMED
that arise from the EMED Notes in any manner whatsoever. The two million shares shall be subject to a lock up and leak out agreement restricting
aggregate sales of the shares to five hundred thousand (500,000) shares per month.

 

2.5.       The
Funds shall be distributed to Kaplan electronically transferred as follows: Wise Bank part of the Community Federal Savings Bank (CFSB);
Account Holder: Dianna Kaplan; Wire Routing Number: 026073008; Account Number: 822000088878; Address: 19 W 24th Street, New
York, NY 10010.

 

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2.6.       Release
of All Claims. Immediately upon satisfaction of this Agreement by receipt by Kaplan of the Funds in immediately available funds and
the issuance of the restricted common stock, including execution of the lock up leak out agreement by Steinberg, the remainder of this
Agreement shall go into effect. Except as provided for herein, and in further consideration of the mutual covenants hereto, EMED, Blue
Ridge, Steinberg and Kaplan agree on behalf of themselves, and their respective successors, assigns, officers, directors, shareholders,
attorneys, employees, agents, independent contractors, affiliates, control persons, administrators, and any and all persons or business
entities acting by and through each of them as the case may be, to irrevocably and unconditionally remise, release, acquit, satisfy and
forever discharge each other, specifically including their agents, directors, officers, affiliates, employees representatives, insurance
carriers, attorneys, divisions and subsidiaries, (and all agents, directors, officers, employees, representatives, insurance carriers,
and attorneys of such divisions and subsidiaries), and their predecessors, successors, administrators and assigns, and all persons acting
by, through, under, or in concert with any of them (collectively "Releases"), of and from any and all claims, actions, causes
of action, suits, debts, charges, complaints, claims, liabilities, obligations, promises, agreements, controversies, damages, and expenses
(including attorney fees and costs actually incurred), of any nature whatsoever, known or unknown, in law or equity, arising out of the
EMED Notes.

 

2.7.       Except
as for any specific rights created by virtue of this Agreement and the Global Agreement, EMED, Blue Ridge, Steinberg and Kaplan promise
not to institute any future suits or proceedings at law or in equity or any arbitration or administrative proceedings against each other
for or on account of any claim or cause of action arising specifically out of the EMED Notes, with the exception of any rights, claims
or causes of action accruing to Kaplan after the effective date hereof, should Steinberg and/or Blue Ridge, or any affiliated person or
entity acting on behalf of Steinberg, enter into any future contracts with EMED that result in Steinberg acquiring, directly or indirectly,
any right, title and interest in and to any EMED equity, rights, preferences, cash, future issuances or other assets.

 

2.8.       This
is intended as a full and complete release and discharge of any or all claims that EMED, Blue Ridge, Steinberg and Kaplan may or might
have or had against each other regarding the EMED Notes, qualified by the terms and conditions of Section 2.8, and EMED, Blue Ridge, Steinberg
and Kaplan do so in full and final settlement, release and discharge of any and all such claims and the Parties intend to and do forever
hereby release and discharge each other of and from any and all liability of any nature related to the EMED Notes.

 

     4 

     

    

 

2.10        This
Agreement constitutes a compromise, settlement, and release of claims and is being entered into solely to avoid the burden, inconvenience,
and expense of litigating those claims. No Party to this Agreement admits any liability to the other Party with respect to any such claim
or any other matter. Each Party expressly denies liability as to every claim, which may be asserted by the other Party. Therefore, this
Agreement is not to be and shall never be construed or deemed an admission or concession by any of the Parties hereto of liability or
culpability at any time for any purpose concerning any claim being compromised, settled, and released, or any other matter.

 

Section 3.Miscellaneous
Provisions.

 

3.1.       Notices.
All notices, offers of other communications required or permitted to be given pursuant to this Agreement shall be in writing and shall
be considered as properly given or made (i) if delivered personally; or (ii) upon receipt by facsimile transmission (with written confirmation
of receipt) or confirmed electronic mail; or (iii) after the expiration of the second business day following deposit with documented overnight
delivery service; or (iv) five business days of transmission by regular mail. All notices given or made pursuant hereto shall be so given
or made to the parties at the following addresses:

 

	If to EMED:	Electromedical Technologies, Inc. 
	 	Attention: Mr. Matthew Wolfson
	 	16561 N. 92nd Street, Ste. 101 
	 	Scottsdale, AZ 8526 
	 	 
	If to Blue Ridge:	Blue Ridge Enterprises, LLC
	 	Attention: Mr. Donald Steinberg
		5256 South Mission Road, Ste. 104 
	 	Bonsall, CA 92003
	 	 
	If to Steinberg:	Mr. Donald Steinberg
	 	3223 Sumac Road
	 	Fallbrook CA 92003

 

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	If to Kaplan:	Ms. Dianna Kaplan
	 	Le Chateau Village, 1 Rue De Saverdun
	 	St. Martin D’Oydes 09100, France
	 	diannakaplan1@gmail.com

 

The address of any party hereto
may be changed by a notice in writing given in accordance with the provisions hereof.

 

3.2.       Severability.
If any provision of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, or unenforceable, such provision
shall be severed and enforced to the extent possible or modified in such a way as to make it enforceable, and the invalidity, illegality
or unenforceability thereof shall not affect the validity, legality, or enforceability of the remaining provisions of this Agreement.

 

3.3.       Binding
on Affiliated Third Parties. This Agreement shall inure to the benefit of and shall be binding upon EMED, Blue Ridge, Kaplan and Steinberg
and their respective agents, representatives, executors, administrators, trustees, personal representatives, partners, directors, officers,
shareholders, agents, attorneys, insurers, employees, representatives, predecessors, successors, heirs, and assigns.

 

3.4.       Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of California without regard to principles
of conflict of laws. Any controversy or claim arising out of or relating to this Agreement or the breach thereof, shall be settled
by civil action in the federal or state courts sitting in San Diego, California. In the event any civil action is commenced, the prevailing
party shall be determined by a court, and the court shall award the prevailing party its attorney fees as an element of costs.

 

3.5.       Counterparts.
This Agreement may be executed in multiple counterparts, all of which shall be deemed originals, and with the same effect as if all Parties
had signed the same document. All of such counterparts shall be construed together with and shall constitute one Agreement, but in making
proof, it shall only be necessary to produce one such counterpart. A facsimile or email transmission shall be as valid and enforceable
as an original.

 

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3.6.       Entire
Understanding. This Agreement is the entire, final, and complete agreement of the Parties relating to the subject of this Agreement
and supersedes and replaces all prior or existing written and oral agreements between the Parties or their representatives relating thereto.

 

3.7.       Further
Assurances. The parties agree to execute and deliver to each other such other documents, and to do such other acts and things, all
as the other party may reasonably request for the purpose of carrying out the intent of this Agreement.

 

3.8.       Amendments.
This Agreement shall not be amended or otherwise modified unless in writing signed by all of the parties hereto.

 

3.9.       Acknowledgment.
EMED, Blue Ridge, Kaplan and Steinberg acknowledges (i) each has read this Agreement including all exhibits completely, and have consulted
with their respective attorneys concerning its contents and legal consequences, and have requested any change in language necessary or
desirable to effectuate their intent and expectations so that the rule of construction of contracts construing ambiguities against the
drafting party shall be inapplicable; (ii) they have taken all corporate actions and obtained all corporate authorizations, consents and
approvals, if applicable, as are conditions precedent to their authority to execute this Agreement, and thus warrant that they are fully
authorized to bind the Party for which they execute this Agreement; and, (iii) there has been and will be no assignment or other transfer
of any claim released herein, or any part thereof, and each Party agrees to defend, indemnify and hold harmless the other party from any
claims, obligations, or other liabilities, including specifically attorney’s fees and costs incurred, which result from the assertion
by any third party of a right to any claim which is released by this Agreement. The foregoing warranties and representations shall survive
the execution and delivery of this Agreement. Blue Ridge, Steinberg, and Kaplan each acknowledge that except for the resolution regarding
the EMED Notes herein, no part of the Global Agreement between Kaplan and Steinberg is modified in any way, shape, or form and that the
Global Agreement continues in full force and effect and each of Steinberg and Kaplan reaffirm their agreement with all provisions in the
Global Agreement.

 

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3.10.       Assignment.
This Agreement shall be binding upon and inure to the benefit of each party hereto or to such party's heirs, executors, administrators,
successors and assigns and nothing in this Agreement, express or implied, is intended to confer upon any other person any rights or remedies
of any nature whatsoever under or by reason of this Agreement. No Party to this Agreement may assign or delegate any of its rights under
this Agreement.

 

3.11.       Confidentiality.
Each of the parties represents and agrees that it will keep the terms, provisions and amounts in this Agreement confidential and that
it will not, without the consent of the other Party, disclose, divulge or furnish such confidential information to any person other than
their immediate families, their attorney and accountant (all of whom will be informed of and bound by this confidentiality provision)
except as required by law or, if necessary, to any applicable taxing authorities.

 

3.12.       Payments.
All references to dollar amounts in this Agreement shall be to United States dollars.

 

IN WITNESS WHEREOF,
the parties have signed this agreement upon the date first written above.

 

ELECTROMEDICAL
TECHNOLOGIES, INC.

 

By:_________________________________

Name: MATTHEW WOLFSON

Title: Principal Executive
Officer

 

 

BLUE
RIDGE ENTERPRISES, LLC

 

By:______________________

Name: DONALD STEINBERG

Title: Manager

 

     8 

     

    

 

DONALD
STEINBERG

 

 

By:______________________

Name: DONALD STEINBERG

Title: An Individual

 

 

DIANNA
KAPLAN

 

 

By:______________________

Name: DIANNA KAPLAN

Title: Individually

 

 

 

 

 

     9EX-10.1

 Exhibit 10.1 

AMENDMENT NO. 2 TO THE BUSINESS COMBINATION AGREEMENT 

This AMENDMENT NO. 2 TO THE BUSINESS COMBINATION AGREEMENT (this “Amendment”), effective as of January 10, 2022, amends the
Business Combination Agreement (the “Agreement”), dated as of June 28, 2021, as amended November 30, 2021, by and among Trebia Acquisition Corp., a Cayman Islands exempted company (“Trebia”), S1 Holdco,
LLC, a Delaware limited liability company (“S1 Holdco”), System1 Midco, LLC, a Delaware limited liability company (“S1 Midco”), System1 S1, LLC, a Delaware limited liability company (“S1”), OpenMail
LLC, a Delaware limited liability company (“OpenMail”), Orchid Merger Sub I, Inc., a Delaware corporation and direct, wholly owned subsidiary of Trebia (“Trebia Merger Sub”), Orchid Merger Sub II, LLC, a Delaware
limited liability company (“Trebia Merger Sub LLC”), Orchid Finco, LLC, a Delaware limited liability company (“Trebia Finco LLC”), CSC III System1 Blocker Inc., a Delaware corporation
(“CSC Blocker 1”), CSC (Offshore) III System1 Blocker, Inc., a Delaware corporation (“CSC Blocker 2”), CSC III-A
System1 Blocker, Inc., a Delaware corporation (“CSC Blocker 3” and, together with CSC Blocker 1 and CSC Blocker 2, the “CSC Blockers”), Court Square Capital Partners III, L.P., a Delaware limited partnership
(“Court Square III L.P.”), Court Square Capital Partners (Offshore) III, L.P., a Cayman Islands limited partnership (“Court Square (Offshore) L.P.”), Court Square Capital Partners
III-A, L.P., a Delaware limited partnership (“Court Square III-A L.P.” and, together with Court Square III L.P. and Court Square (Offshore) L.P., the
“Blocker Parents”), Court Square Capital GP III, LLC, a Delaware limited liability company (“Court Square Capital GP”), Court Square Capital Partners (Executive) III, L.P., a Delaware limited partnership
(“Court Square Executive” and, together with Court Square Capital GP and Court Square III L.P., the “Court Square GPs”), System1 SS Protect Holdings, Inc., a Delaware corporation (“Protected”), the
Persons listed on Exhibit L to the Agreement (collectively, the “Redeemed OM Members”), Trasimene Trebia, LP (“Trasimene Sponsor”), BGPT Trebia LP (“BGPT Sponsor” and, together with Trasimene
Sponsor, the “Founders”) and the Persons listed on Exhibit J to the Agreement (collectively, the “Protected Rollover Parties”). Trebia, S1 Holdco, S1 Midco, S1, OpenMail, Trebia Merger Sub, Trebia Finco LLC, Trebia
Merger Sub LLC, the CSC Blockers, the Blocker Parents, the Court Square GPs, Protected, the Redeemed OM Members, the Founders and the Protected Rollover Parties are collectively referred to herein as the “Parties” and each
individually as a “Party.” Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Agreement. 

W I T N E S S E T H: 

WHEREAS Trebia, Trebia Merger Sub, Trebia Merger Sub LLC, Trebia Finco LLC, the Founders, the CSC Blockers, the Blocker Parents, the Court
Square GPs, S1 Holdco, S1 Midco, S1, OpenMail, Protected, the Redeemed OM Members and the Protected Rollover Parties have entered into the Agreement; and 

WHEREAS, pursuant to and in accordance with Section 15.10 of the Agreement, the Parties desire to amend the Agreement as set forth in
this Amendment; 
 NOW, THEREFORE, in consideration of the promises, and the mutual representations, warranties, covenants and agreements
set forth herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows: 

Section 1. Amendment to Exhibits. Exhibit B and Exhibit G to the Agreement shall be amended in their entirety by replacing such
Exhibits with Exhibit A and Exhibit B, respectively, to this Amendment. 
 Section 2. Amendment to the Recitals. The
third paragraph of the recitals to the Agreement is hereby amended by replacing such paragraph in its entirety with the following: 
  

 “WHEREAS, on or prior to the date hereof, Trebia has obtained (i) an equity
commitment in the amount of $250,000,000 (the “Cannae Backstop Amount”) from Cannae Holdings, Inc. (“Cannae”) pursuant to the terms of a Backstop Facility Agreement (the “Backstop Agreement”), all
or a portion of which may be used to fund (A) to the extent that the Trebia Shareholder Redemption Value (as defined below), if any, is less than $200,000,000, fifty percent (50%) of such amount, (B) to the extent that the Trebia
Shareholder Redemption Value, if any, is in excess of $200,000,000 but less than $300,000,000, the amount funded pursuant to clause (A) plus one-hundred percent (100%) of such amount between
$200,000,000 and $300,000,000, and (C) to the extent that the Trebia Shareholder Redemption Value, if any, is in excess of $417,500,000 but less than $517,500,000, the amount funded pursuant to clauses (B) and (C) plus fifty percent
(50%) of such amount between $417,500,000 and $517,500,000, and, in accordance with the terms of the Backstop Agreement, Cannae shall subscribe for a number of shares of Trebia Class A Common Stock equal to such aggregate amount divided
by $10; (ii) a debt commitment from the financing sources party thereto to Trebia Finco LLC, dated as of the date of this Agreement (the “Debt Commitment Letter”); and (iii) solely to the extent that the Trebia Shareholder
Redemption Value, if any, is in excess of $417,500,000, the Redeemed OM Members, OpenMail and Protected have agreed to reduce the Closing Cash Consideration otherwise payable pursuant to this Agreement in an amount equal to fifty percent (50%) of
the Trebia Shareholder Redemption Value, if any, in excess of $417,500,000 (and (x) in the case of the Redeemed OM Members and OpenMail, a corresponding reduction in the number of S1 Holdco Units that will be redeemed by S1 Holdco, as set forth
in the Allocation Schedule and (y) in the case of Protected, a corresponding increase in the Closing Seller Equity Consideration that will be paid to Protected), and, in accordance with the terms and subject to the conditions of this Agreement
and in the proportions set forth on the Allocation Schedule;” 
 Section 3. Amendments to Article I. 

(a) Section 1.01 of the Agreement is hereby amended by deleting the following defined terms and related definitions in their entirety: 

“Additional Seller Backstop Election” has the meaning specified in the Recitals hereto. 

“Allocated Percentage” means the relevant percentage notified in writing to Trebia by S1 Holdco and Protected upon making an
Additional Seller Backstop Election for each of the reductions in respect of the Specified Proceeds Reduction contemplated in Section 3.01(c), Section 3.01(d),
Section 3.01(e), Section 3.01(f), Section 3.01(g) and Section 3.03(a); provided that the sum of all Allocated Percentages shall equal
100%. 
 “Specified Proceeds Reduction” has the meaning specified in Schedule 1.01(c) of the
Disclosure Schedules. 
 (b) Section 1.01 of the Agreement is hereby amended by replacing the definition of “Allocation
Schedule” in its entirety with the following: 
 “Allocation Schedule” means a schedule dated as of the Closing
Date, prepared by S1 Holdco and Protected in a form consistent with the format set forth on the illustrative example of the Allocation Schedule attached hereto as Exhibit G (as such form may be altered from time to time as agreed between
Trebia, OpenMail, S1 Holdco and Protected), setting forth, (a) the name of OpenMail, each Blocker Parent, Court Square Executive, Court Square Capital GP, each Redeemed OM Member, each Protected Rollover Party, each holder of Protected Common
Stock, each holder of equity interests in Protected UK, each holder of equity interests in Protected Security Holdings, each holder of equity interests in OpenMail 

  
 2 

 
and each holder of Value Creation Units (all such Persons, the “Sellers”), (b) the allocation of the Closing Cash Consideration and the Closing Seller Equity Consideration (if
any) at the Closing to each Seller, and (c) the allocation of the Seller Backstop Amount, in each case, in accordance with the methodology and principles set forth on Exhibit G (as such form may be altered from time to time as agreed
between Trebia, OpenMail, S1 Holdco and Protected). 
 (c) Section 1.01 of the Agreement is hereby amended by replacing the definition of
“Seller Backstop Amount” in its entirety with the following: 
 “Seller Backstop Amount” means an amount
equal to (a)(i) the Trebia Shareholder Redemption Value, minus (ii) $417,500,000, multiplied by (b) fifty percent (50%); provided that if the result of such calculation is less than or equal to zero, then the Seller Backstop
Amount shall equal $0. 
 (d) Section 1.01 of the Agreement is hereby amended by replacing the definition of “Trebia Shareholder
Redemption Value” in its entirety with the following: 
 “Trebia Shareholder Redemption Value” means an amount
equal to $10 multiplied by the number of Trebia Class A Ordinary Shares that are redeemed in connection with the Special Meeting. 

Section 4. Amendments to Article II. 

(a) Section 2.02(a) of the Agreement is hereby amended by replacing such section in its entirety with the following: 

“(a) Cannae Backstop. Prior to and in connection with the Closing and in accordance with the terms of the Backstop Agreement,
Cannae will pay and deliver to Trebia an amount up to the Cannae Backstop Amount, which amount will be used to fund (A) to the extent that the Trebia Shareholder Redemption Value, if any, is less than $200,000,000, fifty percent (50%) of such
amount, (B) to the extent that the Trebia Shareholder Redemption Value, if any, is in excess of $200,000,000 but less than $300,000,000, the amount funded pursuant to clause (A) plus
one-hundred percent (100%) of such amount between $200,000,000 and $300,000,000 and (C) to the extent that the Trebia Shareholder Redemption Value, if any, is in excess of $417,500,000 but less than
$517,500,000, the amount funded pursuant to clauses (B) and (C) plus fifty percent (50%) of such amount between $417,500,000 and $517,500,000, and, in accordance with the terms of the Backstop Agreement, Cannae shall subscribe for a
number of shares of Trebia Class A Common Stock equal to such aggregate amount divided by $10.” 
 (b) Section 2.02(c) of
the Agreement is hereby amended by replacing such section in its entirety with the following: 
 “(c) [Reserved].” 

(c) Section 2.09(a) of the Agreement is hereby amended by replacing such section in its entirety with the following: 

“(a) Subject to the terms and conditions set forth herein, on the Closing Date, immediately following the OpenMail Redemption and prior to
the OpenMail S1 Holdco Unit Redemption (x) S1 Holdco shall redeem, and the Redeemed OM Members shall agree to the redemption of, the Redeemed OM Members S1 Units from the Redeemed OM Members in exchange for the Redeemed OM Members’
applicable portion of the S1 Holdco Closing Cash Consideration as set forth in the Allocation Schedule, and (y) Trebia shall issue to the Redeemed OM Members a number of shares of Trebia Class C Common Stock equal to the number of New S1
Holdco Class B Units held by the Redeemed OM Members immediately following the Redeemed OM Members S1 Holdco Unit Redemption and in consideration for the payment to Trebia by the Redeemed OM Members of $1.” 

  
 3 

 (d) Section 2.10(a) of the Agreement is hereby amended by replacing such section in its
entirety with the following: 
 “(a) Subject to the terms and conditions set forth herein, on the Closing Date and immediately following
the Redeemed OM Members S1 Holdco Unit Redemption and prior to the Protected Reorganization (x) S1 Holdco shall redeem, and OpenMail shall agree to the redemption of, the OpenMail S1 Units from OpenMail in exchange for OpenMail’s
applicable portion of the S1 Holdco Closing Cash Consideration as set forth in the Allocation Schedule and (y) Trebia shall issue to OpenMail a number of shares of Trebia Class C Common Stock equal to the number of New S1 Holdco
Class B Units held by OpenMail immediately following the OpenMail S1 Holdco Unit Redemption in consideration for the payment to Trebia by OpenMail of $1.” 

(e) Section 2.12 of the Agreement is hereby amended by replacing such section in its entirety with the following: 

“The Protected Rollover. On the Closing Date, immediately following the Protected Reorganization and prior to the Protected
Merger, on the terms and conditions set forth herein, the Protected Rollover Parties will contribute to Trebia the Protected Rollover Shares, as set forth on the Protected Rollover Schedule; provided, that the Protected Rollover Schedule may
be amended to reflect additional Protected Rollover Parties (the “Post-Signing Protected Rollover Parties”), subject to (x) Trebia’s written consent to the inclusion of each such Post-Signing Protected Rollover Party on
the Protected Rollover Schedule and (y) such Post-Signing Protected Rollover Party duly executing a joinder to this Agreement. In exchange for the contribution of the Protected Rollover Shares by the Protected Rollover Parties, Trebia shall
(i) issue to each of the Protected Rollover Parties such Protected Rollover Party’s applicable portion of the Closing Seller Equity Consideration (in the form of Trebia Class A Common Stock) as set forth in the Allocation Schedule,
(ii) pay such Protected Rollover Party’s applicable portion of the Protected Closing Cash Consideration as set forth in the Allocation Schedule, and (iii) issue to such Protected Rollover Party a number of shares of Trebia
Class A Common Stock equal to such Protected Rollover Party’s portion of the Seller Backstop Amount (as set forth on the Allocation Schedule), if any, divided by $10.” 

Section 5. Amendments to Article III. 

(a) Section 3.01(c) of the Agreement is hereby amended by replacing such section in its entirety with the following: 

“(c) At the Closing, in connection with the consummation of the Redeemed OM Members S1 Holdco Unit Redemption, (A) S1 Holdco shall
pay to each Redeemed OM Member by wire transfer of immediately available funds to such account or accounts as designated by such Redeemed OM Member such Redeemed OM Member’s applicable portion of the S1 Holdco Closing Cash Consideration as set
forth in the Allocation Schedule, (B) Trebia shall issue and deliver to such Redeemed OM Member the applicable portion of the Closing Seller Equity Consideration (in the form of a number of shares of Trebia Class C Common Stock), as set
forth in the Allocation Schedule, and (C) each Redeemed OM Member shall pay to Trebia $1.” 
 (b) Section 3.01(d) of the Agreement
is hereby amended by replacing such section in its entirety with the following: 

  
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 “(d) At the Closing, in connection with the consummation of the OpenMail S1 Holdco Unit
Redemption, (A) S1 Holdco shall pay to each Redeemed OM Member by wire transfer of immediately available funds to such account or accounts as designated by such Redeemed OM Member’s applicable portion of the S1 Holdco Closing Cash
Consideration as set forth in the Allocation Schedule, (B) Trebia shall issue and deliver to OpenMail the applicable portion of the Closing Seller Equity Consideration (in the form of a number of shares of Trebia Class C Common Stock), as
set forth in the Allocation Schedule, and (C) OpenMail shall pay to Trebia $1.” 
 (c) Section 3.01(e) of the Agreement is hereby
amended by replacing such section in its entirety with the following: 
 “(e) At the Closing, Trebia shall, subject to delivery of a
duly executed and completed stock power in accordance with Section 4.05, in connection with the consummation of the Protected Rollover, (i) cause the Paying Agent to pay to each Protected Rollover Party the applicable
portion of the Protected Closing Cash Consideration as set forth in the Allocation Schedule, (ii) issue and deliver to such Protected Rollover Party the applicable portion of the Closing Seller Equity Consideration (in the form of Trebia
Class A Common Stock) as set forth in the Allocation Schedule, and (iii) issue and deliver to such Protected Rollover Party a number of shares of Trebia Class A Common Stock equal to such Protected Rollover Party’s portion of the
Seller Backstop Amount (as set forth on the Allocation Schedule), if any, divided by $10.” 
 (d) Section 3.01(f) of the
Agreement is hereby amended by replacing such section in its entirety with the following: 
 “(f) At the Closing, Trebia shall, subject
to delivery of a duly executed and completed Letter of Transmittal in accordance with Section 4.05, in connection with the consummation of the Protected Merger, (i) cause the Paying Agent to pay to the applicable
stockholder of Protected, by wire transfer of immediately available funds to such account or accounts as set forth in such Letter of Transmittal, such party’s respective applicable portion of the Protected Closing Cash Consideration as set
forth in the Allocation Schedule, (ii) issue and deliver to such stockholder of Protected their respective applicable portions of the Closing Seller Equity Consideration (in the form of Trebia Class A Common Stock) as set forth in the
Allocation Schedule, and (iii) issue and deliver to such stockholder of Protected a number of shares of Trebia Class A Common Stock equal to such Person’s portion of the Seller Backstop Amount (as set forth on the Allocation
Schedule), if any, divided by $10.” 
 (e) Section 3.01(g) of the Agreement is hereby amended by replacing such section in its
entirety with the following: 
 “(g) With respect to VCUs: (i) at the Closing, S1 Holdco shall arrange for payment to the holders
of Vested VCUs through S1 Holdco’s or a System1 Subsidiary’s payroll system (as applicable) and less applicable withholding taxes, such holders’ respective applicable portions of the S1 Holdco Closing Cash Consideration as set forth
in the Allocation Schedule, and (ii) Trebia shall issue and deliver to such holders their respective applicable portions of the Closing Seller Equity Consideration (in the form of (x) with respect to Vested VCUs, shares of Trebia
Class A Common Stock to be issued by Trebia at the Closing and (y) with respect to Unvested VCUs, unvested Trebia RSUs subject to vesting as provided in Section 12.10(d) to be issued by Trebia on the date that is
sixty five (65) days after the Closing (the “Unvested RSU Issuance Date”); provided that, in the event that a holder of Unvested VCUs as of the Closing is not a Trebia Service Provider as of the Unvested RSU Issuance Date,
Trebia shall, in lieu of the issuance of Unvested RSUs to such holder pursuant to this Section 3.01(g), pay to such holder on the Unvested RSU Issuance Date an amount in cash equal to (A) $10, multiplied by (B) the
number of Unvested RSUs issuable to such holder which would have vested between the date of the Closing and the 

  
 5 

 
date upon which such holder ceased to be a Trebia Service Provider) as set forth in the Allocation Schedule. Any required withholding taxes with respect to the issuance of shares of Trebia
Class A Common Stock to a holder of Vested VCUs pursuant to this Section 3.01(g) may, at election of the recipient of such shares, (1) be satisfied through an open-market, broker-assisted sales transaction, on
terms subject to approval of Trebia, pursuant to which Trebia is promptly delivered the amount of proceeds necessary to satisfy the required withholding taxes (based on maximum statutory withholding rates), or (2) if Trebia is subject to a Black-Out Period at the time the withholding obligation arises, such withholding taxes will be satisfied by Trebia retaining that number of shares of Trebia Class A Common Stock otherwise issuable to such
holder having a value equal to the aggregate amount of such required withholding taxes (based on maximum statutory withholding rates).” 

(f) Section 3.03(a) of the Agreement is hereby amended by replacing such section in its entirety with the following: 

“(a) The Protected Common Stock, other than the Protected Rollover Shares, issued and outstanding immediately prior to the Protected
Effective Time will be converted into, and the holders of such Protected Common Stock shall be entitled to receive, in the aggregate with respect to all Protected Common Stock held by such holder, the applicable portion of the Protected Closing Cash
Consideration and the Closing Seller Equity Consideration (in the form of Trebia Class A Common Stock) as set forth in the Allocation Schedule. All such Protected Common Stock will no longer be outstanding and shall automatically be cancelled
and will cease to exist, and the holders shall thereafter cease to have any rights with respect to such securities.” 
 Section 6.
Amendment to Article IV. Section 4.04(d) of the Agreement is hereby amended by replacing such section in its entirety with the following: 

“(d) The Trebia Parties shall be entitled to rely upon the Allocation Schedule, and in no event will Trebia or any of its Affiliates have
any liability to any Blocker Parent, S1 Holdco, OpenMail, Court Square GPs, holder of Protected Securities or any other Person with respect to the allocation of the Closing Cash Consideration or the Closing Seller Equity Consideration payable under
this Agreement or pursuant to the Transactions provided such payments and/or issuances are made in accordance with the terms hereof and as set forth in the Allocation Schedule; provided, however, that in no event shall the amounts set
forth on the Allocation Schedule result in, or require Trebia or any other Person to issue or pay hereunder, an amount greater than the aggregate of the Closing Cash Consideration and the Closing Seller Equity Consideration. In no event shall
(A) the aggregate Closing Cash Consideration as set forth on the Allocation Schedule delivered to S1 Holdco and Protected pursuant to this Section 4.04 exceed $462,500.000 (subject to adjustment pursuant to clause
(ii) of the Protected Closing Cash Consideration), (B) aggregate Closing Seller Equity Consideration as set forth in such Allocation Schedule exceed the number of shares equal to $667,500,000 divided by $10 (plus any amounts
attributable to the Seller Backstop Amount, if any) or (C) the sum of the aggregate Closing Seller Cash Consideration and aggregate Closing Seller Equity Consideration set forth in such Allocation Schedule exceed $1,130,000,000 (subject to
adjustment pursuant to clause (ii) of the Protected Closing Cash Consideration) (with the Closing Seller Equity Consideration valued at $10 per share).” 

Section 7. Amendment to Article XIII. Section 13.01(e) of the Agreement is hereby amended by replacing such section in its
entirety with the following: 
 “(e) Available Cash Amount. The Available Cash Amount shall not be less than $467,500,000.”

  
 6 

 Section 8. Effect of Amendment. Each Party to this Amendment represents that it has
all necessary power and authority to enter into and perform the obligations of this Amendment and that there are no consents or approvals required to be obtained by such party for such party to enter into and perform its obligations under this
Amendment that have not been obtained. This Amendment shall be deemed incorporated into, and form a part of, the Agreement and have the same legal validity and effect as the Agreement. This Amendment shall be effective as of the date first written
above. After giving effect to this Amendment, unless the context otherwise requires, each reference in the Agreement or any Exhibit or Schedule thereto to “this Agreement”, “the Agreement”, “hereof”, “herein”
or words of like import referring to the Agreement shall refer to the Agreement as amended by this Amendment and Amendment No. 1 to the Agreement, dated as of November 30, 2021 (except that references in the Agreement to the “date
hereof” or “date of this Agreement” or words of similar import shall continue to mean June 28, 2021). Except as amended by this Amendment, the Agreement (as amended prior to the date hereof) will continue in full force and effect
and shall be otherwise unaffected hereby. 
 Section 9. Amendment to Article XIV. Section 14.01(e) of the Agreement is hereby
amended by replacing such section in its entirety with the following: 
 “(e) by Trebia if (i) any of the S1 Holdco Written
Consent, the Court Square GPs’ Written Consent, or the Blocker Parents’ Written Consent is not delivered to Trebia within forty-eight hours of the date hereof, or (ii) the Protected Written Consent is not delivered to Trebia within
two (2) Business Days following the SEC Clearance Date; provided, however, that Trebia’s right to terminate this Agreement pursuant to this Section 14.01(e) shall expire upon the actual delivery to Trebia of each of the
foregoing written consents; provided, further, however, that each such written consent is delivered on or prior to January 13, 2022.” 

Section 10. Effect of Amendment. Each Party to this Amendment represents that it has all necessary power and authority to enter into
and perform the obligations of this Amendment and that there are no consents or approvals required to be obtained by such party for such party to enter into and perform its obligations under this Amendment that have not been obtained. This Amendment
shall be deemed incorporated into, and form a part of, the Agreement and have the same legal validity and effect as the Agreement. This Amendment shall be effective as of the date first written above. After giving effect to this Amendment, unless
the context otherwise requires, each reference in the Agreement or any Exhibit or Schedule thereto to “this Agreement”, “the Agreement”, “hereof”, “herein” or words of like import referring to the Agreement
shall refer to the Agreement as amended by this Amendment and Amendment No. 1 to the Agreement, dated as of November 30, 2021 (except that references in the Agreement to the “date hereof” or “date of this Agreement” or
words of similar import shall continue to mean June 28, 2021). Except as amended by this Amendment, the Agreement (as amended prior to the date hereof) will continue in full force and effect and shall be otherwise unaffected hereby. 

Section 11. Governing Law; Jurisdiction; Waiver of Jury Trial. Section 15.06 and Section 15.12 of the Agreement are hereby
incorporated into this Amendment by reference, mutatis mutandis. 
 Section 12. Counterparts; Electronic Delivery;
Severability. Section 15.02, Section 15.07, and Section 15.11 of the Agreement are hereby incorporated into this Amendment by reference, mutatis mutandis. 

[Signature Pages Follow] 

  
 7 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment No. 2 effective as
of the day and year first indicated above. 
  

			
	S1 HOLDCO, LLC
		
	By:	 	 /s/ Michael Blend

		 	Name: Michael Blend
		 	Title:   CEO & Chairman of the Board

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	SYSTEM1 MIDCO, LLC
		
	By:	 	 /s/ Michael Blend

		 	Name: Michael Blend
		 	Title:   Manager

  
  

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	SYSTEM1 S1, LLC
	
	By: SYSTEM1 MIDCO, LLC
	Its: Sole Member
		
	By:	 	 /s/ Michael Blend

		 	Name: Michael Blend
		 	Title:   Manager

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	OPENMAIL, LLC
		
	By:	 	 /s/ Michael Blend

		 	Name: Michael Blend
		 	Title:   Manager

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	SYSTEM1 SS PROTECT HOLDINGS, INC.
		
	By:	 	 /s/ Michael Blend

		 	Name: Michael Blend
		 	Title:   President

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	REDEEMED OM MEMBERS
	
	FGL LABS
		
	By:	 	 /s/ Chuck Ursini

		 	Name: Chuck Ursini
		 	Title:   Managing Member

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	THE DANTE JACOB BLEND TRUST OF 2017
		
	By:	 	 /s/ Stanley Blend

		 	Name: Stanley Blend
		 	Title:   Manager

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	THE NOLA DELFINA ROSE BLEND TRUST OF 2017
		
	By:	 	 /s/ Stanley Blend

		 	Name: Stanley Blend
		 	Title:   Manager

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	THE BLEND FAMILY TRUST FOUNDATION
		
	By:	 	 /s/ Stanley Blend

		 	Name: Stanley Blend
		 	Title:   Manager

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	LONE STAR FRIENDS TRUST
		
	By:	 	 /s/ Stanley Blend

		 	Name: Stanley Blend
		 	Title:   Manager

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	CEE HOLDINGS TRUST
		
	By:	 	 /s/ Brittany Gale

		 	Name: Brittany Gale
		 	Title:   Trust Officer, Jackson Hole Trust Co., TTE

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	By:	 	 /s/ Kevin Ferrell

		 	Name: Kevin Ferrell

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	By:	 	 /s/ David Cummings

		 	Name: David Cummings

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	PROTECTED ROLLOVER PARTIES
	
	Harvey’s Gaingels Protected LLC
		
	By:	 	 /s/ Joseph Jones

		 	Name: Joseph Jones
		 	Title:   Managing Member

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	STAHURRICANE II LLC
		
	By:	 	 /s/ Paul Stahura

		 	Name: Paul Stahura
		 	Title:   Manager

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	By:	 	 /s/ Stanley Blend

		 	Name: Stanley Blend

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	ARCH INVESTMENTS LTD
		
	By:	 	 /s/ Bruce Hendin

		 	Name: Bruce Hendin
		 	Title:   Authorized Signatory

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	SHE INVESTMENTS, LTD
		
	By:	 	 /s/ Ruth Hoine

		 	Name: Ruth Hoine
		 	Title:   Managing Partner

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	DANIEL AND MELINDA BERMAN LIVING TRUST 2010
		
	By:	 	 /s/ Daniel Berman

		 	Name: Daniel Berman
		 	Title:   Trustee

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	CARBON INVESTMENTS, LLC
		
	By:	 	 /s/ Moujan Kazerani

		 	Name: Moujan Kazerani
		 	Title:   Founding Partner

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	By:	 	 /s/ John C Rosenberg

		 	Name: John C Rosenberg

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	By:	 	 /s/ John Civantos

		 	Name: John Civantos

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	By:	 	 /s/ Manuel De Zarraga

		 	Name: Manuel De Zarraga
		 	Title: Trustee

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	By:	 	 /s/ Jennifer Lancaster

		 	Name: Jennifer Lancaster

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	By:	 	 /s/ Tridivesh Kidambi

		 	Name: Tridivesh Kidambi

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	By:	 	 /s/ Lee Maen

		 	Name: Lee Maen

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	CEE HOLDINGS TRUST
		
	By:	 	 /s/ Amy Potter

		 	Name: Amy Potter
		 	Title: Co-General Counsel, Jackson Hole Trust Co., TTE

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	LONE STAR FRIENDS TRUST
		
	By:	 	 /s/ Stanley Blend

		 	Name: Stanley Blend
		 	Title: Manager

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	THE DANTE JACOB BLEND TRUST OF 2017
		
	By:	 	 /s/ Stanley Blend

		 	Name: Stanley Blend
		 	Title: Manager

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	THE NOLA DELFINA BLEND TRUST OF 2017
		
	By:	 	 /s/ Stanley Blend

		 	Name: Stanley Blend
		 	Title: Manager

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	LONE INVESTMENT HOLDING
		
	By:	 	 /s/ Stanley Blend

		 	Name: Stanley Blend
		 	Title: Manager

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	By:	 	 /s/ Paul Filsinger

		 	Name: Paul Filsinger

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	By:	 	 /s/ Mark Huerta

		 	Name: Mark Huerta

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	By:	 	 /s/ Scott Birnbaum

		 	Name: Scott Birnbaum

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	By:	 	 /s/ Stewart Marlborough

		 	Name: Stewart Marlborough
		 	Title:

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 
			
	By:	 	 /s/ Daniel Weinrot

		 	Name: Daniel Weinrot

  
 [Signature Page to
Amendment No. 2 to Business Combination Agreement] 

 EXHIBIT A 

Form of Trebia Bylaws 

[See attached.] 

 EXHIBIT B 

Allocation Schedule 
 [See
attached.]

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