Document:

Exhibit 10.3

 

Execution Version

 

FORM OF WAIVER AND AMENDMENT NO. 1 TO SERIES
Z SUBSCRIPTION AGREEMENT

 

THIS WAIVER AND
AMENDMENT NO. 1 TO SERIES Z SUBSCRIPTION AGREEMENT (this “Amendment”) to that certain Series Z Subscription Agreement,
dated as of October 6, 2021 (the “Series Z Subscription Agreement”), by and among each of the undersigned subscribers
(each, a “Subscriber”) and Starry, Inc., a Delaware corporation (“Starry”), is made as of March
[●], 2022 by and among the Subscribers and Starry. Capitalized terms used, but not otherwise defined herein shall have the respective
meanings ascribed to such terms in the Series Z Subscription Agreement.

 

WHEREAS, in accordance
with Section 9(h) of the Series Z Subscription Agreement, the terms of the Series Z Subscription Agreement may be amended or waived only
by an instrument in writing, signed by each of the parties thereto;

 

WHEREAS, the parties
to the Transaction Agreement have acknowledged and agreed that the transactions contemplated by the Note Subscription Agreements (the
“Note Financing”) shall not be consummated and have waived any rights such parties may have relating thereto under
the Transaction Agreement (the “Note Waiver”);

 

WHEREAS, Section 9.03(e)
of the Transaction Agreement provides that the obligation of Holdings and Starry, Inc., a Delaware corporation (“Starry Inc.”),
to consummate the Mergers (as defined in the Transaction Agreement) is subject to the satisfaction or waiver by Starry Inc. of the condition
that the Closing Surviving Corporation Cash (as defined in the Transaction Agreement) equal or exceed $300,000,000 (the “Minimum
Cash Condition”);

 

WHEREAS, Starry Inc.
(on behalf of itself and Holdings) has waived the Minimum Cash Condition (the “Minimum Cash Waiver”);

 

WHEREAS, the parties
to the Transaction Agreement have acknowledged and agreed that the Subject Indebtedness (as defined in the Transaction Agreement) will
not be repaid in connection with the consummation of the Mergers and have waived any rights such parties may have relating thereto under
the Transaction Agreement, including any condition to such party’s obligation to consummate the Mergers relating thereto and any
other parties’ compliance with or performance of the covenants in the Transaction Agreement relating to the payoff or extinguishment
of the Subject Indebtedness (the “Indebtedness Payoff Waiver”);

 

WHEREAS, the Company
and Holdings entered into certain Non-Redemption Agreements with shareholders of the Company pursuant to which (i) such shareholders agreed
not to redeem their shares of Class A common stock of the Company and (ii) Holdings agreed to issue such investors an aggregate of 422,108
Class A Common Shares (the “NRA Issuances”); and

 

WHEREAS, each Subscriber
and Starry desires to amend and waive certain terms of the Series Z Subscription Agreement in accordance with this Amendment.

 

     

     

    

 

NOW, THEREFORE, in
consideration of the mutual covenants and agreements set forth herein and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto agree as follows:

 

1. Amendment.

 

(a) The
“Per Share Price” definition, and the “Price Per Subscribed Share” listed on the signature page of the Subscription
Agreement, is hereby amended such that the purchase price per share is decreased to $7.50 per share from $10.00 per share.

 

(b) The
number of Series Z Preferred Shares to be subscribed for and purchased by (i) FirstMark Capital OF III, L.P. is hereby amended to be increased
from 1,100,000 to 1,466,667 and (ii) FirstMark Capital S1, L.P. is hereby amended to be increased from 1,000,000 to 1,333,333. All references
to “Subscribed Preferred Shares” in the Series Z Subscription Agreement shall be deemed to refer to the amended number of
Series Z Preferred Shares to be purchased by the Subscriber.

 

(c) The
Aggregate Purchase Price of the Subscribed Preferred Shares for (i) FirstMark Capital OF III, L.P. is hereby amended to $11,000,002.50
and (ii) FirstMark Capital S1, L.P. is hereby amended to $9,999,997.50.

 

2. Waivers.

 

(a) Each
Subscriber hereby irrevocably waives any rights that such Subscriber may have (including in respect of any breach of representation or
warranty by Starry), or any condition to such Subscriber’s obligation to consummate the Closing, under the Subscription Agreement
relating to (A) the Minimum Cash Waiver or the failure to satisfy the Minimum Cash Condition, (B) the Note Waiver or the failure to consummate
the Note Financing, (C) the Indebtedness Payoff Waiver or the failure to payoff or extinguish the Subject Indebtedness; provided
that the foregoing waivers in respect of the Indebtedness Payoff Waiver or the failure to payoff or extinguish the Subject Indebtedness
are conditioned upon the receipt of a consent to the Transactions for purposes of the Subject Indebtedness from the applicable holders
of the Subject Indebtedness, (D) the NRA Issuances and (E) the amendment of the PIPE Subscription Agreements (as defined in the Transaction
Agreement) to increase the aggregate number of Holdings Class A Common Stock issuable thereunder to 14,533,334 from 10,900,000, based
on a purchase price per share equal to $7.50.

 

(b) Each
Subscriber hereby acknowledges that the parties to the Transaction Agreement anticipate that the Closing Date will occur on March 29,
2022, and each Subscriber hereby agrees to deliver its Aggregate Purchase Price by wire transfer of United States dollars in immediately
available funds to an account specified by Starry no later than March 25, 2022, such funds to be held in escrow by a third-party escrow
provider until the Closing. Each Subscriber agrees that this Amendment shall constitute the Closing Notice and that such Closing Notice
shall be deemed to have been timely given.

 

3. Effect
of Waiver and Amendment. Except as specifically amended or waived herein, the Series Z Subscription Agreement is hereby ratified and
confirmed and shall remain in full force and effect. Each reference in the Series Z Subscription Agreement to “this Subscription
Agreement,” “hereunder,” “hereof,” “herein” or words of like import, and each reference to the
Series Z Subscription Agreement in the other documents entered into in connection with the Series Z Subscription Agreement, shall mean
and be a reference to the Series Z Subscription Agreement, as amended and waived by this Amendment.

 

4. Miscellaneous.
Section 7 of the Subscription Agreement shall apply to this Amendment mutatis mutandis.

 

[Remainder of Page Intentionally Left Blank]

 

    2

     

    

 

IN WITNESS WHEREOF, the undersigned
parties have executed this Amendment as of the date first written above.

 

	 	STARRY, INC. 
	 	 	 
	 	By:	 
	 	Name:	           
	 	Title:	 

 

Signature
Page to Waiver and Amendment No. 1 to Series Z Subscription Agreement

 

     

     

    

  

	 	SUBSCRIBER
	 	 
	 	[●]
	 	 
	 	[●]
	 	 
	 	By: 	
	 	 	Name: 	[●]
	 	 	Title:	[●]

 

Signature
Page to Waiver and Amendment No. 1 to Series Z Subscription AgreementExhibit 10.4

 

Execution Version

 

FIRST Amendment
To Sponsor support agreement

 

THIS FIRST AMENDMENT TO SPONSOR
SUPPORT AGREEMENT (this “Amendment”) is made and entered into as of March 28, 2022 by and among FirstMark Horizon
Sponsor LLC, a Delaware limited liability company (the “Sponsor Holdco”), the individuals whose names and signatures
are set forth on the signature page to this Amendment (together with the Sponsor Holdco, each, a “Sponsor” and, together,
the “Sponsors”), FirstMark Horizon Acquisition Corp., a Delaware corporation (“SPAC”), Starry Group
Holdings, Inc. (formerly Starry Holdings, Inc.), a Delaware corporation (“Pubco”), and Starry, Inc., a Delaware corporation
(the “Company” and, collective with the Sponsors, SPAC and Pubco, the “Parties”). Capitalized terms
used and not defined herein have the respective meanings ascribed to them in the Sponsor Support Agreement (as defined below).

 

RECITALS

 

A. The
Parties entered into the Sponsor Support Agreement (the “Sponsor Support Agreement”), dated as of October 6, 2021,
and now wish to amend the Sponsor Support Agreement in accordance with the terms of the Sponsor Support Agreement and this Amendment.

 

B. Section
3.6 of the Sponsor Support Agreement provides that the Sponsor Support Agreement may be amended by an instrument in writing signed by
the Parties.

 

NOW, THEREFORE, in consideration
of the premises, and of the representations, warranties, covenants and agreements contained herein, the value, receipt and sufficiency
of which are hereby acknowledged, the Parties hereby agree as follows:

 

AGREEMENT

 

1. 
Amendment to Section 1.9. Section 1.9 of the Sponsor Support Agreement is hereby amended and restated in its entirety to read as
follows:

 

Section 1.9 Sponsor
Earn-out.

 

(a) Each
holder of Promote Shares (including Sponsor Holdco or any of its Permitted Transferees, but excluding each of Jason Robins, Luis Ubiñas,
Frederick Ball, and Allison Goldberg (collectively, including their Permitted Transferees, the “Independent Directors”))
hereby irrevocably agrees that, at (and subject only to the occurrence of) the Closing, the Earn-out Promote Shares will become restricted
shares and will be subject to the vesting and forfeiture provisions set forth in Section 1.9(d) (the “Earn-out Vesting
Terms”).

 

(b) The
Earn-out Promote Shares will be composed as follows: (i) 2,224,167 of the Earn-out Promote Shares will be subject to the vesting
and forfeiture conditions specified in Section 1.9(d)(i) (the “First Target Earn-out Shares”), (ii) an additional
951,973  of the Earn-out Promote Shares will be subject to the vesting and forfeiture conditions specified in Section 1.9(d)(ii)
(the “Second Target Earn-out Shares”) and (iii) an additional 951,973 of the Earn-out Promote Shares will be subject
to the vesting and forfeiture conditions specified in Section 1.9(d)(iii) (the “Third Target Earn-out Shares”).

 

     

     

    

 

(c) [Intentionally
omitted.]

 

(d) The
Earn-out Promote Shares will be subject to the following vesting conditions:

 

(i) If,
at any time during the Earn-out Period, the Closing Price equals or exceeds $12.50 per share (subject to equitable adjustment as set forth
in Section 1.8(e)) for 20 out of any 30 consecutive Trading Days, the First Target Earn-out Shares will immediately vest and
no longer be subject to the forfeiture conditions provided in this Section 1.9;

 

(ii) If,
at any time during the Earn-out Period, the Closing Price equals or exceeds $15.00 per share (subject to equitable adjustment as set forth
in Section 1.8(e)) for 20 out of any 30 consecutive Trading Days, the Second Target Earn-out Shares will immediately vest
and no longer be subject to the forfeiture conditions provided in this Section 1.9; and

 

(iii) If,
at any time during the Earn-out Period, the Closing Price equals or exceeds $17.50 per share (subject to equitable adjustment as set forth
in Error! Reference source not found.) for 20 out of any 30 consecutive Trading Days, the Third Target Earn-out Shares will
immediately vest and no longer be subject to the forfeiture conditions provided in this Section 1.9.

 

(e) For
the avoidance of doubt, if the vesting conditions applicable to more than one of Section 1.9(d)(i), Section 1.9(d)(ii) or
Section 1.9(d)(iii) have been satisfied at any time, then all of the Earn-out Promote Shares subject to such satisfied vesting
conditions will immediately vest and no longer be subject to the forfeiture conditions provided in this Section 1.9.

 

(f) If,
upon the expiration of the Earn-out Period, the vesting of any of the Earn-out Promote Shares has not occurred, then the applicable Earn-out
Promote Shares that failed to vest pursuant to Section 1.9(d), as applicable, and any dividends or distributions previously paid
or made in respect thereof will be automatically forfeited and transferred to Pubco for no consideration, and no Person (other than Pubco)
will have any further right with respect thereto. Notwithstanding anything to the contrary herein, in no event will any holder of Earn-out
Promote Shares be entitled to retain after the Earn-out Period an aggregate number of Earn-out Promote Shares greater than the total number
of Earn-out Promote Shares that has vested in accordance with Section 1.9(d) or Section 1.9(g).

 

(g) In
the event that there is a Pubco Sale during the Earn-out Period, then, to the extent that the holders of shares of Pubco Class A Common
Stock receive a Pubco Sale Price that is greater than or equal to the applicable Pubco Trading Price specified in Section 1.9(d)(i),
Section 1.9(d)(ii) or Section 1.9(d)(iii) (subject to Section 1.8(e)) any Earn-out Promote Shares that have
not previously vested in accordance with Section 1.9(d)(i), Section 1.9(d)(ii) or Section 1.9(d)(iii), as applicable,
will be deemed to have vested (to the extent that such Earn-out Promote Shares would have vested pursuant to Section 1.9(d)(i),
Section 1.9(d)(ii) or Section 1.9(d)(iii), as applicable, if the Pubco Trading Price had been the Pubco Sale Price for any
20 Trading Days within any period of 30 Trading Days during the Earn-out Period) immediately prior to the closing of such Pubco Sale,
and the holders of any Earn-out Promote Shares deemed vested pursuant to this Section 1.9(g) will be eligible to participate in
such Pubco Sale with respect to such Earn-Out Promote Shares on the same terms, and subject to the same conditions, as the holders of
shares of Pubco Class A Common Stock generally.

 

    2

     

    

 

(h) For
so long as any Earn-out Promote Share remains subject to the vesting and forfeiture conditions specified in Section 1.9(d), (i)
the holder thereof will be entitled to exercise the voting rights carried by such Earn-out Promote Share and (ii) the holder thereof will
not be entitled to receive any dividends or other distributions in respect of such Earn-out Promote Share, and any dividends or distributions
paid or made in respect of such Earn-out Promote Share will be retained by Pubco and invested as and to the extent determined by Pubco
and will be paid or made to the holder of such Earn-out Promote Share only when and to the extent that such Earn-out Promote Share vests
in accordance with Section 1.9(d), and, to the extent that such Earn-out Promote Share fails to vest in accordance with Section 1.9(d)
prior to the expiration of the Earn-out Period, any dividends or distributions paid or made in respect thereof will be forfeited to Pubco
for no consideration, and no Person (other than Pubco) will have any further right with respect thereto.

 

(i) For
purposes of this Agreement:

 

(i) “Pubco
Sale Price” means the price per share of Pubco Class A Common Stock paid or payable to the holders of outstanding shares
of Pubco Class A Common Stock (determined without giving effect to the vesting contemplated by Section 1.9(g)) in a Pubco
Sale, inclusive of any escrows, holdbacks or fixed deferred purchase price, but exclusive of any contingent deferred purchase price, earnouts
or the like; provided that, if and to the extent such price is payable in whole or in part in the form of consideration other than
cash, the price for such non-cash consideration shall be (a) with respect to any securities, (i) the average of the closing prices of
the sales of such securities on all securities exchanges on which such securities are then listed, averaged over a period of 21 days consisting
of the day as of which such value is being determined and the 20 consecutive Business Days preceding such day, or (ii) if the information
contemplated by the preceding clause (i) is not practically available, then the fair value of such securities as of the date of valuation
as determined in accordance with the succeeding clause (b), and (b) with respect to any other non-cash assets, the fair value thereof
as of the date of valuation, as determined by an independent, nationally recognized investment banking firm mutually selected by Pubco
and Sponsor Holdco, on the basis of an orderly sale to a willing, unaffiliated buyer in an arm’s-length transaction, taking into
account all factors determinative of value as the investment banking firm determines relevant (and giving effect to any transfer Taxes
payable in connection with such sale).

 

(ii) “Earn-out
Period” means the period commencing on the Closing Date and ending on the date that is five years after the Closing Date.

 

(iii) “Earn-out
Promote Shares” means 4,128,113 Promote Shares.

 

(iv) “Promote
Shares” means the shares of Pubco Class A Common Stock to be received by Sponsor Holdco pursuant to the SPAC Merger.

 

    3

     

    

 

2. Amendment
to Section 1.11(b)(i). Section 1.11(b)(i) of the Sponsor Support Agreement is hereby amended and restated in its entirety to read
as follows:

 

“In connection
with the Exchange:

 

(i) all 10,230,000
outstanding shares of SPAC Class B Common Stock held by Sponsor Holdco shall be exchanged and converted into the number of shares of SPAC
Class A Common Stock equal to: (i) 6,685,613 divided by (ii) the Class A Exchange Ratio (as defined in the Transaction Agreement); and”

 

3. Effect
of Amendment. Each of the Parties 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 Sponsor Support Agreement and have the same legal validity and effect as the Sponsor Support Agreement. Except as expressly and specifically
amended hereby, all terms and provisions of the Sponsor Support Agreement are and shall remain in full force and effect, and all references
to the Sponsor Support Agreement in this Amendment and in any ancillary agreements or documents delivered in connection with the Sponsor
Support Agreement shall hereafter refer to the Sponsor Support Agreement as amended by this Amendment, and as it may hereafter be further
amended or restated. Each reference in the Sponsor Support Agreement to “this Agreement,” “herein,” “hereof,”
“hereunder” or words of similar import shall hereafter be deemed to refer to the Sponsor Support Agreement as amended hereby
(except that references in the Sponsor Support Agreement to the “date hereof” or “date of this Agreement” or words
of similar import shall continue to mean October 6, 2021).

 

4. Inconsistency
or Conflict. In the event of any inconsistency or conflict between the terms and provisions of the Sponsor Support Agreement, on the
one hand, and this Amendment, on the other hand, the terms and provisions of this Amendment shall govern and control.

 

5. Additional
Provisions. The provisions contained in Article III (Miscellaneous) of the Sponsor Support Agreement are hereby incorporated by reference
into this Amendment, mutatis mutandis, and made a part of this Amendment as if set forth fully herein.

 

6. Counterparts.
This Amendment may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument.

 

[Signature page follows]

 

    4

     

    

 

IN WITNESS WHEREOF, the Sponsors,
SPAC, Pubco and the Company have each caused this First Amendment to Sponsor Support Agreement to be duly executed as of the date first
written above.

 

	 	SPONSORS:
	 	 	 	 
	 	FIRSTMARK HORIZON SPONSOR LLC
	 	 	 	 
	 	By:	/s/ Amish Jani
	 	 	Name:  	Amish Jani
	 	 	Title:	President
	 	 	 	 
	 	/s/ Richard Heitzmann
	 	Richard Heitzmann
	 	 	 	 
	 	/s/ Amish Jani
	 	Amish Jani
	 	 	 	 
	 	/s/ Jason Robins
	 	Jason Robins
	 	 	 	 
	 	/s/ Luis Ubiñas
	 	Luis Ubiñas
	 	 	 	 
	 	/s/ Frederick Ball
	 	Frederick Ball
	 	 	 	 
	 	/s/ Allison Goldberg
	 	Allison Goldberg

 

[Signature Page to First Amendment to Sponsor Support
Agreement]

 

     

     

    

 

	 	PUBCO:
	 	 	 
	 	STARRY GROUP HOLDINGS, INC.
	 	 	 
	 	By:	/s/ Chaitanya Kanojia
	 	 	Name:	Chaitanya Kanojia
	 	 	Title:	Chief Executive Officer

 

[Signature Page to First Amendment to Sponsor
Support Agreement] 

 

     

     

    

 

	 	SPAC:
	 	 	 	 
	 	FIRSTMARK HORIZON ACQUISITION CORP.
	 	 	 	 
	 	By:	/s/ Amish
    Jani
	 	 	Name: 	Amish Jani
	 	 	Title:	President

 

[Signature Page to First Amendment to Sponsor Support
Agreement]

 

     

     

    

 

	 	COMPANY:
	 	 	 	 
	 	STARRY, INC.
	 	 	 	 
	 	By:	/s/ William Lundregan
	 	 	Name:	William Lundregan
	 	 	Title:	Secretary

 

[Signature Page to First
Amendment to Sponsor Support Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00342-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00342-of-00352.parquet"}]]