Document:

EX-10.1

 Exhibit 10.1 

VOTING AND SUPPORT AGREEMENT 

This Voting and Support Agreement (this “Agreement”) is made and entered into as of October     , 2022,
by and among NAVER Corporation, a public corporation founded under the laws of the Republic of Korea (“Parent”), the stockholders of Poshmark, Inc., a Delaware corporation (the “Company”), listed on
Schedule A hereto (each, a “Stockholder” and, collectively, the “Stockholders”), and the Company. 

RECITALS 
 WHEREAS,
concurrently with the execution and delivery of this Agreement, Parent, Proton Parent, Inc., a Delaware corporation and a wholly owned subsidiary of Parent (“Proton Parent”), Proton Merger Sub, Inc., a Delaware corporation and a
wholly owned subsidiary of Proton Parent (“Merger Sub”), and the Company, are entering into an Agreement and Plan of Merger (as it may be amended, supplemented or otherwise modified from time to time, the “Merger
Agreement”) that, among other things and subject to the terms and conditions set forth therein, provides for the merger of Merger Sub with and into the Company (the “Merger”), with the Company being the surviving
corporation in the Merger; 
 WHEREAS, as of the date hereof, each Stockholder is the record and/or “beneficial owner” (within the
meaning of Rule 13d-3 under the Exchange Act, which meaning will apply for all purposes of this Agreement; provided, that all options, warrants, restricted stock units and other convertible securities are
included even if not exercisable within sixty (60) days of the date hereof) of the number of shares of Class A common stock, par value $0.0001 per share, of the Company (the “Class A Common Stock”)
and/or Class B common stock, par value $0.0001 per share, of the Company (the “Class B Common Stock”, together with Class A Common Stock, the “Company Stock”) as set forth next to such
Stockholder’s name on Schedule A hereto, being all of the shares of Company Stock owned of record or beneficially by such Stockholder as of the date hereof (with respect to such Stockholder, the “Owned
Shares”, and the Owned Shares together with any additional shares of Company Stock that such Stockholder may acquire record and/or beneficial ownership of after the date hereof, such Stockholder’s “Covered Shares”);

 WHEREAS, the Company Board, including a majority of the Independent Directors (as defined in Article V of the Company’s Charter),
has unanimously (i) determined that it is in the best interests of the Company and its stockholders, and declared it advisable, to enter into the Merger Agreement providing for the Merger upon the terms and subject to the conditions set forth
therein; (ii) approved the execution and delivery of the Merger Agreement by the Company, the performance by the Company of its covenants and other obligations thereunder, and the consummation of the Merger upon the terms and subject to the
conditions set forth in the Merger Agreement; (iii) resolved to recommend that the Company Stockholders adopt the Merger Agreement; (iv) directed that the adoption of the Merger Agreement be submitted for consideration by the Company
Stockholders at a meeting thereof; and (v) approved the entry by the Stockholders into this Agreement; 
 WHEREAS, it is the express
purpose and intent of the parties that this Agreement constitutes an exception to a Transfer (as defined in Article V of the Charter) pursuant to clause (f) of such definition; and 

 WHEREAS, as an inducement and condition for Parent and Merger Sub to enter into the Merger
Agreement, each Stockholder has agreed to enter into this Agreement with respect to such Stockholder’s Covered Shares. 
 NOW,
THEREFORE, in consideration of the foregoing and the respective representations, warranties, covenants and agreements set forth below and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto, intending to be legally bound, do hereby agree as follows: 
 1.    Definitions. Capitalized
terms used but not otherwise defined herein shall have the respective meanings ascribed to such terms in the Merger Agreement. When used in this Agreement, the following terms shall have the meanings assigned to them in this
Section 1. 
 “Expiration Time” shall mean the earliest to occur of (a) the Effective Time
or (b) such date and time as the Merger Agreement shall be validly terminated pursuant to Article VIII thereof. 

“Lien” means any lien, encumbrance, hypothecation, adverse claim, charge, mortgage, security interest, pledge or option,
proxy, right of first refusal or first offer, preemptive right, deed of trust, servitude, voting trust, transfer restriction or any other similar restriction. 

“Permitted Lien” means (i) any Lien arising under this Agreement, (ii) any applicable restrictions on transfer
under the Securities Act of 1933 and (iii) with respect to Company Options or Company RSUs, any Lien created by the terms of any applicable Employee Plan or award agreement thereunder. 

“Transfer” shall mean (a) any direct or indirect offer, sale, assignment, encumbrance, pledge, hypothecation, dividend,
disposition, loan or other transfer (whether voluntary or involuntary and including by merger, by testamentary disposition, by gift, by operation of Law or otherwise), or entry into any option or other Contract, swap, arrangement, agreement or
understanding with respect to any offer, sale, assignment, encumbrance, pledge, hypothecation, dividend, disposition, loan or other transfer (whether voluntary or involuntary and including by merger, by testamentary disposition, by gift, by
operation of Law or otherwise), of any Covered Shares or any interest (including legal or beneficial) in any Covered Shares (in each case other than this Agreement), (b) the deposit of any Covered Shares into a voting trust, the entry into a
voting agreement, arrangement, understanding or commitment (other than this Agreement) with respect to such Covered Shares or the grant of any proxy or power of attorney with respect to such Covered Shares, (c) the creation of any Lien, or the
entry into any Contract, swap, arrangement, agreement or understanding creating any Lien, with respect to any Covered Shares (other than Permitted Liens), (d) the entry into any derivative or hedging arrangement with respect to any Covered
Securities or any interest therein, (e) with respect to Covered Shares that are shares of Class B Common Stock, any other action that would constitute a Transfer as defined in Article V of the Charter or (f) any Contract or commitment
(whether or not in writing) to take any of the actions referred to in the foregoing clauses (a), (b), (c), (d) or (e) above. 

  
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 2.    Agreement to Not Transfer the Covered Shares. Until the
Expiration Time, each Stockholder agrees not to and to cause each of its Affiliates not to Transfer or cause or permit the Transfer of any of such Stockholder’s Covered Shares (except as provided in this Section 2), other than with the
prior written consent of Parent; provided, however, that any Stockholder may, (a) with respect to Covered Shares that are shares of Class B Common Stock, Transfer any such Covered Shares to any Permitted
Transferee of Stockholder (as defined in Article IV of the Charter), and (b) with respect to Covered Shares that are shares of Class A Common Stock, Transfer any such Covered Shares (i) by will or by operation of law or other
Transfers for estate planning purposes, (ii) underlying such Stockholder’s Company Options and/or Company RSUs for the net settlement of such Company Options and/or Company RSUs in order to satisfy any tax withholding obligation or to pay
the exercise price of such Company Options, (iii) to any stockholder, member or partner of any Stockholder which is an entity and under common control with such Stockholder, and (iv) to any Affiliate of Stockholder under common control
with such Stockholder, in each case of clauses (a) and (b), only if such transferee of such Covered Shares evidences in writing reasonably satisfactory to Parent such transferee’s agreement to be bound by and subject to the terms and
provisions hereof to the same effect as such transferring Stockholder. Any Transfer or attempted Transfer of any Covered Shares in violation of this Section 2 shall be null and void and of no effect whatsoever. If any
involuntary transfer of any of such Stockholder’s Covered Shares shall occur (including a sale by Stockholder’s trustee in any bankruptcy, or a sale to a purchaser at any creditor’s or court sale), the transferee (which term, as used
herein, shall include any and all transferees and subsequent transferees of the initial transferee) shall take and hold such Covered Shares subject to all of the restrictions, liabilities and rights under this Agreement, which shall continue in full
force and effect until the valid termination of this Agreement. At all times commencing with the execution and delivery of this Agreement and continuing until the Expiration Time, in furtherance of this Agreement, each Stockholder hereby authorizes
the Company to notify the Company’s transfer agent that there is a stop transfer order with respect to all of the Covered Shares (and that this Agreement places limits on the voting and transfer of such Covered Shares). 

3.    Agreement to Vote the Covered Shares. 

3.1    Until the Expiration Time, at every meeting of the Company’s stockholders at which any of the following matters
are to be voted on (and at every adjournment or postponement thereof), each Stockholder shall vote (including via proxy or written consent) all of such Stockholder’s Covered Shares (or cause the holder(s) of record on any applicable record date
to vote (including via proxy or written consent) all of such Stockholder’s Covered Shares): 
 (a)    in favor of
the approval and adoption of the Merger Agreement and the transactions contemplated by the Merger Agreement; 

(b)    in favor of the approval of any proposal to adjourn or postpone the meeting to a later date if there are not
sufficient votes present for there to be a quorum or for the approval and adoption of the Merger Agreement on the date on which such meeting is held; 

(c)    in favor of any other transactions reasonably required in furtherance of the matters set forth in
Section 3.1(a) and Section 3.1(b); and 

  
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 (d)    against (i) any action, proposal, transaction or agreement
that would reasonably be expected to result in any condition set forth in Article VII of the Merger Agreement not being satisfied prior to the Termination Date, (ii) any Acquisition Proposal or any action with the intention to further any
Acquisition Proposal, (iii) any action that would reasonably be expected to impede, interfere with, delay, discourage, adversely affect, or inhibit the adoption of the Merger Agreement or the timely consummation of the Merger or the fulfillment
of the Company’s, Parent’s or Merger Sub’s conditions to Closing under the Merger Agreement, (iv) any reorganization, dissolution, liquidation, winding up or similar extraordinary transaction involving the Company (except as
expressly contemplated by the Merger Agreement), and (v) any action which would reasonably be expected to result in a material breach of any representation, warranty, covenant or agreement of the Company in the Merger Agreement or of a
Stockholder contained in this Agreement. 
 3.2    Until the Expiration Time, at every meeting of the Company’s
stockholders (and at every adjournment or postponement thereof), each Stockholder shall appear at such meeting or otherwise cause each Covered Share to be counted for the purposes of a quorum and shall be represented in person or by proxy held by
the Chief Executive Officer of the Company at such meeting (or cause the holder(s) of record on any applicable record date to be represented in person or by such proxy at such meeting) in order for the Covered Shares to be counted as present for
purposes of establishing a quorum. 
 3.3    Until the Expiration Time, each Stockholder shall execute and deliver (or
cause the holders of record of the Covered Shares to execute and deliver), within five (5) Business Days of receipt, any proxy card or voting instructions it receives that is sent by the Company to its stockholders soliciting proxies with
respect to any matter described in Section 3.1 which shall be voted in the manner described in Sections 3.1 and 3.2. 

4.    Waiver of Appraisal Rights and Certain Other Actions. Each Stockholder hereby irrevocably waives and agrees
not to exercise any and all appraisal rights under Section 262 of the DGCL with respect to all of such Stockholder’s Covered Shares owned (beneficially or of record) by such Stockholder. In addition, each Stockholder hereby agrees not to
commence or participate in (x) any class action with respect to Parent, Proton Parent, the Company or any of their respective Subsidiaries or successors, or (y) any legal action, derivative or otherwise, against Parent, Proton Parent, the
Company or any of their respective Subsidiaries or successors, in each case: (a) challenging the validity of, or seeking to enjoin or delay the operation of, any provision of this Agreement or the Merger Agreement (including any claim seeking
to enjoin or delay the Closing) or (b) to the fullest extent permitted under applicable Law, alleging a breach of any duty of the Company Board, Parent or Proton Parent in connection with the Merger Agreement, this Agreement or the transactions
contemplated thereby or hereby. 

  
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 5.    Fiduciary Duties. Each Stockholder is entering into this
Agreement solely in its capacity as the record holder or beneficial owner of such Stockholder’s Covered Shares. Without limiting the terms of the Merger Agreement in any respect, nothing in this Agreement shall in any way attempt to limit or
affect any actions taken by any of the Stockholder’s or its Affiliates’ designee(s) or beneficial owner(s) serving on the Company Board (solely to the extent in any such director’s capacity as such) or any such Stockholder, solely to
the extent in his or her capacity as a director, officer or employee of the Company or any of its Affiliates, from complying with his or her fiduciary obligations solely to the extent acting in such designee’s or beneficial owner’s
capacity as a director, officer or employee of the Company. Without limiting the terms of the Merger Agreement in any respect, no action taken (or omitted to be taken) solely to the extent in any such capacity as a director, officer or employee
shall be deemed to constitute a breach of this Agreement. 
 6.    Representations and Warranties of the
Stockholder. Each Stockholder hereby represents and warrants to Parent that: 
 6.1    Due Authority. The
Stockholder has the full power and capacity to make, enter into and carry out the terms of this Agreement. If an entity, the Stockholder is duly organized, validly existing and in good standing in accordance with the laws of its jurisdiction of
formation, as applicable. The execution and delivery of this Agreement, the performance of the Stockholder’s obligations hereunder, and the consummation of the transactions contemplated hereby have been validly authorized, and, assuming the
accuracy of the representations and warranties set forth in Section 7.2(b), no other consents or authorizations are required to give effect to this Agreement or the transactions contemplated by this Agreement. This
Agreement has been duly and validly executed and delivered by the Stockholder and constitutes a valid and binding obligation of the Stockholder enforceable against it in accordance with its terms, except as enforcement may be limited by applicable
bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar Laws affecting or relating to creditors’ rights generally and equitable remedies of specific performance and injunctive and other forms of equitable
relief may be subject to equitable defenses and to the discretion of the court before which any proceeding therefor may be brought. If Stockholder is an individual and is married, and any of the Covered Shares constitute community property or
spousal approval is otherwise necessary for this Agreement to be legal, binding and enforceable, such Stockholder’s spouse has delivered with this Agreement a Spousal Consent in the form attached hereto as Exhibit A and this Agreement has
been duly authorized, executed and delivered by, and constitutes the legal, valid and binding obligation of, Stockholder’s spouse, enforceable against Stockholder’s spouse in accordance with its terms. 

6.2    Ownership of the Covered Shares. (a) The Stockholder is, as of the date hereof, the beneficial or
record owner of such Stockholder’s Covered Shares, all of which are free and clear of any Liens, other than Permitted Liens, and (b) subject only to community property laws, if applicable, the Stockholder has sole voting power over all of
such Stockholder’s Covered Shares and no person (other than the Stockholder and any person under common control with the Stockholder) has a right to acquire any of the Covered Shares held by the Stockholder. The Stockholder has not entered into
any agreement to Transfer any Covered Shares. As of the date hereof, the Stockholder does not own, beneficially or of record, any shares of Company Stock or other voting shares of the Company (or any securities convertible, exercisable or
exchangeable for, or rights to purchase or acquire, any shares of Company Stock or other voting shares of the Company) other than the Owned Shares. 

  
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 6.3    No Conflict; Consents. 

(a)    The execution and delivery of this Agreement by the Stockholder does not, and the performance by the Stockholder of
its obligations under this Agreement does not and will not: (i) violate any Laws applicable to the Stockholder or (ii) result in any breach of or constitute a default under any Contract or obligation to which the Stockholder is a party or
by which the Stockholder is subject or (iii) if an entity, violate the certificate of incorporation, bylaws, operating agreement, limited partnership agreement or any equivalent organizational or governing documents of such Stockholder, in each
case of clauses (i) through (iii), except for such violations, breaches or defaults as would not delay or impair in any respect the ability of the Stockholder to perform its obligations under the Agreement. 

(b)    No consent, approval, order or authorization of, or registration, declaration or, except as required under the HSR
Act, any competition, antitrust and investment laws or regulations of any jurisdiction or by the rules and regulations promulgated under the Exchange Act, filing with, any Governmental Authority or any other Person, is required by or with respect to
the Stockholder in connection with the execution and delivery of this Agreement or the consummation by such Stockholder of the transactions contemplated hereby. 

6.4    Absence of Litigation. As of the date hereof, there is no legal action pending against, or, to the knowledge
of the Stockholder, threatened against or affecting the Stockholder that would reasonably be expected to prevent, materially delay or materially impair the ability of the Stockholder to perform its obligations under this Agreement. 

7.    Representations and Warranties of Parent. Parent hereby represents and warrants to the Stockholder that: 

7.1    Due Authority. Parent has the full power and capacity to make, enter into and carry out the terms of this
Agreement. Parent is duly organized, validly existing and in good standing in accordance with the laws of its jurisdiction of formation. The execution and delivery of this Agreement, the performance of Parent’s obligations hereunder, and the
consummation of the transactions contemplated hereby has been validly authorized, and assuming the accuracy of the representations and warranties set forth in Section 6.3(b), no other consents or authorizations are required
to give effect to this Agreement or the transactions contemplated by this Agreement. This Agreement has been duly and validly executed and delivered by Parent and constitutes a valid and binding obligation of Parent enforceable against it in
accordance with its terms, except as enforcement may be limited by general principles of equity whether applied in a court of law or a court of equity and by bankruptcy, insolvency and similar Laws affecting creditors’ rights and remedies
generally. 
 7.2    No Conflict; Consents. 

(a)    The execution and delivery of this Agreement by Parent does not, and the performance by Parent of its obligations
under this Agreement does not and will not: (i) violate any Laws applicable to Parent, or (ii) result in any breach of or constitute a default under 

  
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any Contract or obligation to which Parent is a party or by which Parent is subject, or (iii) violate the certificate of incorporation, bylaws, operating agreement, limited partnership
agreement or any equivalent organizational or governing documents of Parent, in the case of each of clauses (i) through (iii), except for such violations, breaches or defaults as would not prevent, materially delay or materially impair the
ability of Parent to perform its obligations under this Agreement. 
 (b)    No consent, approval, order or
authorization of, or registration, declaration or, except as required under the HSR Act, any competition, antitrust and investment laws or regulations of any jurisdiction, by the rules and regulations promulgated under the Exchange Act or as set
forth on Section 4.4 of the Parent Disclosure Letter, filing with, any Governmental Authority or any other Person, is required by or with respect to Parent in connection with the execution and delivery of this Agreement or the consummation by
Parent of the transactions contemplated hereby. 
 7.3    Absence of Litigation. As of the date hereof, there is
no legal action pending against, or, to the knowledge of Parent, threatened against or affecting Parent that would reasonably be expected to prevent, materially delay or materially impair the ability of Parent to perform its obligations under this
Agreement. 
 7.4    Ownership of Company Common Stock. Parent does not beneficially own any shares of Company
Common Stock. 
 8.    No Solicitation. Subject in all cases to Section 5, each
Stockholder agrees that it will not, and will cause its Affiliates not to, directly or indirectly, and will not (and will cause its Affiliates not to) authorize, instruct or permit any investment banker, attorney or other advisor or other
Representative to act on such Stockholder’s or the Company’s behalf to, take any action that the Company, its Subsidiaries or their respective Representatives are prohibited from taking pursuant to Section 5.3 of the Merger Agreement.

 9.    HSR Filing. Each Stockholder agrees to file a Notification and Report Form pursuant to the HSR Act as
promptly as practicable (and in any event within ten Business Dates of the date of this Agreement). Each Stockholder further agrees to supply as promptly as practicable any additional information and documentary materials that may be requested
pursuant to the HSR Act in connection with the Transactions and that Section 6.2 of the Merger Agreement shall apply to such Stockholder mutatis mutandis. 

10.    Miscellaneous. 

10.1    No Ownership Interest. Nothing contained in this Agreement shall be deemed to vest in Parent any direct,
indirect or beneficial ownership or incidence of ownership of or with respect to the Covered Shares. Without limiting this Agreement in any manner, all rights, ownership and economic benefits of and relating to the Covered Shares shall remain vested
in and belong to the Stockholders, and Parent shall have no authority to direct any Stockholder in the voting or disposition of any of the Covered Shares, except as expressly provided herein. Parent and each Stockholder acknowledge and agree that
this Agreement constitutes a voting and support agreement for the purposes of Article V of the Charter. 

  
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 10.2    Certain Adjustments. In the event of a stock split, stock
dividend or distribution, or any change in the Company Stock by reason of any split-up, reverse stock split, recapitalization, combination, reclassification, exchange of shares or the like, the terms
“Company Stock” and “Covered Shares” shall be deemed to refer to and include such shares as well as all such stock dividends and distributions and any securities into which or for which any or all of such shares may be changed or
exchanged or which are received in such transaction. 
 10.3    Amendments and Modifications. This Agreement may
not be modified, amended, altered or supplemented except upon the execution and delivery of a written agreement executed by all of the parties hereto. 

10.4    Expenses. All costs and expenses incurred in connection with this Agreement shall be paid by the party
hereto incurring such cost or expense. 
 10.5    Notices. All notices and other communications hereunder shall
be in writing in one of the following formats and shall be deemed given (a) upon actual delivery if personally delivered to the party hereto to be notified if received prior to 5:00 p.m. on a Business Day in the place of receipt, otherwise such
notice or communication shall be deemed not to have been received until the next succeeding Business Day in the place of receipt; (b) when sent if sent by email to the party hereto to be notified if received prior to 5:00 p.m. on a Business Day
in the place of receipt, otherwise such notice or communication shall be deemed not to have been received until the next succeeding Business Day in the place of receipt; provided, that notice given by email shall not be effective unless
(i) such notice specifically states that it is being delivered pursuant to this Agreement and (ii) either (A) a duplicate copy of such email notice is promptly given by one of the other methods described in this
Section 10.5 or (B) the receiving party hereto delivers a written confirmation of receipt for such notice by email (excluding “out of office” or similar automated replies) or any other method described in
this Section 10.5; or (c) when delivered if sent by a courier (with confirmation of delivery) if received prior to 5:00 p.m. on a Business Day in the place of receipt, otherwise such notice or communication shall be
deemed not to have been received until the next succeeding Business Day in the place of receipt; in each case to the party hereto to be notified at the following address: 

(i)    if to the Stockholders, to: 

[Stockholder] 
 [Address] 

[City, State ZIP] 

Attention:    [●] 

                    [●] 

Email:         [●] 

                    [●] 

with a copy (which shall not constitute notice) to: 

[Name] 
 [Address] 

[City, State ZIP] 

  
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 Attention:    [●] 

                    [●] 

Email:         [●] 

                    [●] 

(ii)    if to Parent, to: 

NAVER Corporation 
 NAVER 1784

 95 Jeongjail-ro, Bundang-gu, Seongnam-si, Gyeonggi-do 
 13561, Republic of Korea 

Attention:    Agnus Park 

                    So Yeon Yoon 

                    Seng-Hwan Chun 

Email:           

with a copy (which shall not constitute notice) to: 

Kirkland & Ellis LLP 

601 Lexington Avenue 
 New York,
NY 10022 
 Attention:    Edward J. Lee, P.C. 

                    Rachael G. Coffey,
P.C. 
 Email:    Edward.lee@kirkland.com 

               rachael.coffey@kirkland.com 

(iii)    if to Company, to: 

Poshmark, Inc. 
 203 Redwood
Shores Parkway, 8th Floor 
 Redwood City, CA 94065 

Attention:    Evan Ferl 

Email:     

  
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 with a copy (which shall not constitute notice) to: 

Goodwin Procter LLP 
 100
Northern Avenue 
 Boston, Massachusetts 02210 

Attention:    Anthony 

                    J. McCusker Joshua M.
Zachariah 
                     Jean A.
Lee 
 Email:         amccusker@goodwinlaw.com 

                    
jzachariah@goodwinlaw.com 

                    jeanlee@goodwinlaw.com

 From time to time, any party hereto may provide notice to the other parties hereto of a change in its address or e-mail address through a notice given in accordance with this Section 10.5, except that that notice of any change to the address or any of the other details specified in or pursuant to this
Section 10.5 will not be deemed to have been received until, and will be deemed to have been received upon, the later of the date (A) specified in such notice; or (B) that is five Business Days after such notice
would otherwise be deemed to have been received pursuant to this Section 10.5. 

10.6    Enforcement; Exclusive Jurisdiction. 

(a)    The rights and remedies of the parties hereto shall be cumulative with and not exclusive of any other remedy
conferred hereby. The parties hereto agree that irreparable damage would occur and that the parties would not have any adequate remedy at law in the event that any of the provisions of this Agreement were not performed in accordance with their
specific terms or were otherwise breached. It is accordingly agreed that the parties hereto shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this
Agreement, this being in addition to any other remedy to which they are entitled at law or in equity. 
 (b)    In
addition, each of the parties (i) irrevocably consents to the service of the summons and complaint and any other process (whether inside or outside the territorial jurisdiction of the Chosen Courts) in any Legal Proceeding relating to this
Agreement, for and on behalf of itself or any of its properties or assets, in accordance with Section 10.5 or in such other manner as may be permitted by applicable Law, and nothing in this
Section 10.6 will affect the right of any party hereto to serve legal process in any other manner permitted by applicable Law; (ii) irrevocably and unconditionally consents and submits itself and its properties and
assets in any Legal Proceeding to the exclusive general jurisdiction of the Court of Chancery of the State of Delaware and any state appellate court therefrom within the State of Delaware (or, if the Court of Chancery of the State of Delaware
declines to accept jurisdiction over a particular matter, any other state or federal court within the State of Delaware) (the “Chosen Courts”) in the event that any dispute or controversy arises out of this Agreement or the
transactions contemplated hereby; (iii) agrees that it shall not attempt to deny or defeat such personal jurisdiction by motion or other 

  
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request for leave from any such court; (iv) agrees that any Legal Proceeding arising in connection with this Agreement or the transactions contemplated hereby or thereby shall be brought,
tried and determined only in the Chosen Courts; (v) waives any objection that it may now or hereafter have to the venue of any such Legal Proceeding in the Chosen Courts or that such Legal Proceeding was brought in an inconvenient court and
agrees not to plead or claim the same; and (vi) agrees that it shall not bring any Legal Proceeding relating to this Agreement or the transactions contemplated hereby or thereby in any court other than the Chosen Courts. Each of Parent and the
Stockholders agrees that a final judgment in any Legal Proceeding in the Chosen Courts will be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by applicable Law. 

10.7    Waiver of Jury Trial. EACH PARTY HERETO ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY THAT MAY ARISE
PURSUANT TO THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT THAT SUCH PARTY HERETO MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LEGAL
PROCEEDING (WHETHER FOR BREACH OF CONTRACT, TORTIOUS CONDUCT OR OTHERWISE) DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE MERGER. EACH PARTY HERETO ACKNOWLEDGES AND AGREES THAT (i) NO REPRESENTATIVE, AGENT OR
ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER; (ii) IT UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER;
(iii) IT MAKES THIS WAIVER VOLUNTARILY; AND (iv) IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 10.7. 

10.8    Documentation and Information. 

(a)    Each Stockholder consents to and authorizes the publication and disclosure by Parent and the Company of such
Stockholder’s identity and holding of the Covered Shares, the terms of this Agreement (including, for the avoidance of doubt, the disclosure of this Agreement), and any other information that Parent or the Company reasonably determines is
required to be disclosed by applicable Law, in any press release, the Proxy Statement and any other disclosure document required in connection with the Merger Agreement, the Merger and the Transactions. Each Stockholder acknowledges that Parent,
Merger Sub and the Company, in Parent’s or the Company’s sole discretion, as applicable, may file this Agreement or a form hereof with the SEC or any other Governmental Authority. Such Stockholder agrees to promptly give Parent and the
Company any information they may reasonably request for the preparation of any such disclosure documents. 

(b)    Each Stockholder shall not make any public announcement regarding this Agreement and the transactions contemplated
hereby without the prior written consent of Parent and the Company, except (x) as may be required by applicable Law, (y) ordinary course disclosure and communication to existing or prospective general or limited partners, equity holders,
members, managers and investors of such Stockholder or any Affiliate of such 

  
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Stockholder, in each case who are subject to customary confidentiality restrictions or (z) ordinary course public disclosures, including marketing announcements and general advertisements,
consistent with past practice and to the extent consistent with public statements and disclosures previously made by Parent. 

(c)    If applicable and to the extent required under applicable Law, such Stockholder shall promptly and in accordance
with applicable Law amend their Schedule 13D or Schedule 13G filed with the SEC to disclose this Agreement and, such Stockholder shall provide a draft of such amendment to Parent and Merger Sub and consider any reasonable comments in good faith
prior to such filing. 
 10.9    Further Assurances. Each Stockholder agrees, from time to time, at the
reasonable request of Parent and without further consideration, to execute and deliver such additional documents and take all such further action as may be reasonable required to consummate and make effective, in the most expeditious manner
practicable, the transactions contemplated by this Agreement. 
 10.10    Entire Agreement. This Agreement
constitutes the entire agreement and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. For the avoidance of doubt, nothing in this Agreement shall be deemed to
amend, alter or modify, in any respect, any of the provisions of the Merger Agreement. 
 10.11    Reliance. Each
Stockholder understands and acknowledges that Parent and Merger Sub are entering into the Merger Agreement in reliance upon such Stockholder’s execution and delivery of this Agreement. 

10.12    Interpretation. The words “hereof”, “herein” and “hereunder” and words of
like import used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement. The descriptive headings used herein are inserted for convenience of reference only and are not intended to be part of
or to affect the meaning or interpretation of this Agreement. References to Articles, Sections, Exhibits and Schedules are to Articles, Sections, Exhibits and Schedules of this Agreement unless otherwise specified. All Exhibits and Schedules annexed
hereto or referred to herein are hereby incorporated in and made a part of this Agreement as if set forth in full herein. Any capitalized terms used in any Exhibit or Schedule but not otherwise defined therein, shall have the meaning as defined in
this Agreement. Any singular term in this Agreement shall be deemed to include the plural, and any plural term the singular. The definitions contained in this Agreement are applicable to the masculine as well as to the feminine and neuter genders of
such term. Whenever the words “include”, “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation”, whether or not they are in fact followed by
those words or words of like import. “Writing”, “written” and comparable terms refer to printing, typing and other means of reproducing words (including electronic media) in a visible form. References to any statute shall be
deemed to refer to such statute and to any rules or regulations promulgated thereunder. References to any Person include the successors and permitted assigns of that Person. References from or through any date mean, unless otherwise specified, from
and including such date or through and including such date, respectively. References to any period of days will be deemed to be to the relevant number of 

  
 -12- 

 
calendar days unless otherwise specified. The parties agree that they have been represented by counsel during the negotiation, drafting, preparation and execution of this Agreement and,
therefore, in the event an ambiguity or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties, and no presumption or burden of proof will arise favoring or disfavoring any party hereto by
virtue of the authorship of any of the provisions of this Agreement. 
 10.13    Assignment. Neither this
Agreement nor any of the rights, interests or obligations hereunder shall be assigned by any of the parties hereto in whole or in part (whether by operation of Law or otherwise) without the prior written consent of the other parties, and any such
assignment without such consent shall be null and void. This Agreement shall be binding upon, inure to the benefit of and be enforceable by the parties hereto and their respective successors and permitted assigns. 

10.14    Severability. If any term or other provision of this Agreement is held by a court of competent
jurisdiction or other authority to be invalid, void, unenforceable or against its regulatory policy, the remainder of the terms and provisions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or
invalidated, so long as the economic and legal substance of the transactions contemplated hereby, taken as a whole, is not affected in a manner materially adverse to any party hereto. Upon such a determination, the parties hereto shall negotiate in
good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the fullest extent
possible. 
 10.15    Counterparts. This Agreement and any amendments hereto may be executed in one or more
counterparts, all of which will be considered one and the same agreement and will become effective when one or more counterparts have been signed by each of the Parties hereto and delivered to the other parties hereto, it being understood that all
parties hereto need not sign the same counterpart. Any such counterpart, to the extent delivered by fax or .pdf, .tif, .gif, .jpg or similar attachment to electronic mail (any such delivery, an “Electronic Delivery”), will be
treated in all manner and respects as an original executed counterpart and will be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person. No party hereto may raise the use of an
Electronic Delivery to deliver a signature, or the fact that any signature or agreement or instrument was transmitted or communicated through the use of an Electronic Delivery, as a defense to the formation of a contract, and each party hereto
forever waives any such defense, except to the extent such defense relates to lack of authenticity. 

10.16    Governing Law. This Agreement and all actions, proceedings, causes of action, claims or counterclaims
(whether based on contract, tort, statute or otherwise) based upon, arising out of or relating to this Agreement or the actions of Parent or any Stockholder in the negotiation, administration, performance and enforcement hereof (including any claim
or cause of action based upon, arising out of or related to any representation or warranty made in connection with this Agreement or as an inducement to enter into this Agreement), shall be governed by, and construed in accordance with the Laws of
the State of Delaware, including its statutes of limitations, without giving effect to any choice or conflict of Laws provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application of the Laws,
including any statutes of limitations, of any jurisdiction other than the State of Delaware. 

  
 -13- 

 10.17    Non-Survival of
Representations and Warranties. None of the representations and warranties in this Agreement or in any schedule, instrument or other document delivered pursuant to this Agreement shall survive the Effective Time or the termination of this
Agreement. This Section 10.17 shall not limit any covenant or agreement contained in this Agreement that by its terms is to be performed in whole or in part after the Effective Time or the termination of this Agreement.

 10.18    Termination. This Agreement shall automatically terminate without further action by any of the
parties hereto and shall have no further force or effect as of the earliest to occur of (a) the Expiration Time or (b) with respect to any Stockholder, the election of such Stockholder in its sole discretion to terminate this Agreement
promptly following any amendment of any term or provision of the original unamended Merger Agreement dated as of the date hereof that reduces or changes the form of consideration payable pursuant to such Merger Agreement; provided that the
provisions of this Section 10 (except for Section 10.8(c)) shall survive any such termination. Notwithstanding the foregoing, termination of this Agreement shall not prevent any party hereto from
seeking any remedies (at law or in equity) against any other party for that party’s breach of any of the terms of this Agreement prior to the date of termination. 

[Signature page follows] 

  
 -14- 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and
delivered as of the date first above written. 
  

			
	NAVER CORPORATION
		
	By:	 	          

		 	Name:
		 	Title:

  
 [Signature Page to Voting
and Support Agreement] 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and
delivered as of the date first above written. 
  

			
	[STOCKHOLDERS]
		
	By:	 	          

		 	Name:
		 	Title:

  
 [Signature Page to Voting
and Support Agreement] 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and
delivered as of the date first above written. 
  

			
	POSHMARK, INC.
		
	By:	 	          

		 	Name:
		 	Title:

  
 [Signature Page to Voting
and Support Agreement] 

 Schedule A 

 

					
	 Stockholder
	  	 Shares of Company Stock
	  	 Options / RSUs

		  		  	

 Exhibit A 

Spousal Consent 
 I,
[●], spouse of [●], acknowledge that I have read the Voting and Support Agreement, dated as of [            ], 2022, to which this Consent is attached as Exhibit A (the
“Agreement”), and that I know the contents of the Agreement. I am aware that the Agreement contains provisions regarding the voting and transfer of shares of capital stock of the Company that my spouse may own, including any
interest I might have therein. 
 I hereby agree that my interest, if any, in any shares of capital stock of the Company subject to the
Agreement shall be irrevocably bound by the Agreement and further understand and agree that any community property interest I may have in such shares of capital stock of the Company shall be similarly bound by the Agreement. 

I am aware that the legal, financial and related matters contained in the Agreement are complex and that I am free to seek independent
professional guidance or counsel with respect to this Consent. I have either sought such guidance or counsel or determined after reviewing the Agreement carefully that I will waive such right. 

 

									
	Dated:	 	          
	 		 	          

		 		 		 	[Name of Stockholder’s Spouse]EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
 FIRST
AMENDMENT TO SECOND AMENDED AND RESTATED 
 CREDIT AGREEMENT 

This FIRST AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”), is made and entered into as
of May 6, 2022 (the “Effective Date”), by and among TREAN INSURANCE GROUP, INC., a Delaware corporation (“Holdings”), TREAN CORPORATION, a Minnesota corporation (“Trean”), TREAN
COMPSTAR HOLDINGS LLC, a Delaware limited liability company (“Trean Compstar”), BENCHMARK ADMINISTRATORS, LLC (“BA LLC” and together with Holdings, Trean and Trean Compstar, collectively the
“Borrower”), the other Loan Parties party hereto, the banks and other financial institutions and lenders from time to time party hereto (the “Lenders”), and FIRST HORIZON BANK, in its capacity as
administrative agent and collateral agent for the Lenders (the “Administrative Agent”). 
 W I T N E S S E T H: 

WHEREAS, Holdings, the Borrower, the other Loan Parties party thereto, the Lenders party thereto and Administrative Agent are parties
to that certain Second Amended and Restated Credit Agreement, dated as of July 16, 2020 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), pursuant to which the Lenders
committed to make certain loans and other financial accommodations to the Borrower upon the terms and conditions set forth therein; 

WHEREAS, Borrower and the other Loan Parties have requested that Administrative Agent and the Lenders amend certain provisions of the
Credit Agreement, and subject to the terms and conditions of this Amendment, Administrative Agent and the Lenders have agreed to make such amendments; 

NOW, THEREFORE, in consideration of the premises, the covenants and agreements contained herein, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, Borrower and the other Loan Parties, the Lenders and Administrative Agent do hereby agree that capitalized terms used herein (including the recitals hereto) and not
otherwise defined herein shall have the meanings given such terms in the Credit Agreement and further agree as follows: 
 1.
ACKNOWLEDGMENTS. 
 a. Acknowledgment of Obligations. All Obligations, together with interest accrued and accruing thereon, and fees,
costs, expenses and other charges now or hereafter payable by the Loan Parties to the Lenders, are unconditionally owing by the Loan Parties, all without offset, defense or counterclaim of any kind, nature or description whatsoever. 

b. Acknowledgment of Liens. Each of the Loan Parties hereby acknowledges, confirms and agrees that Administrative Agent on behalf of the
Lenders has and shall continue to have valid, enforceable and perfected first priority liens (subject to certain Liens expressly permitted by the terms and conditions of the Credit Agreement) upon and security interests in the Collateral heretofore
granted by the Loan Parties to Administrative Agent on behalf of the Lenders pursuant to the Loan Documents. 

 c. Binding Effect of Documents. Each of the Loan Parties hereby acknowledges,
confirms and agrees that: (a) each of the Loan Documents to which it is a party has been duly executed and delivered by it to Administrative Agent, and each is in full force and effect as of the date hereof, (b) the agreements and
obligations of each Loan Party contained in the Loan Documents and in this Amendment constitute the legal, valid and binding obligations of such Loan Party, enforceable against it in accordance with their respective terms, except as enforceability
may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability, and no Loan Party has a valid
defense to the enforcement of such obligations and (c) Administrative Agent and the Lenders are and shall be entitled to the rights, remedies and benefits provided for them in the Loan Documents and applicable law. 

2. AMENDMENTS TO THE CREDIT AGREEMENT. Subject to the terms and conditions of this Amendment, including, without limitation, the satisfaction
of the conditions specified in Section 3 below, the Credit Agreement is hereby amended as follows, with each such amendment effective immediately prior to closing of the Transaction:  
 (a) Section 7.7(m) of the Credit Agreement is hereby amended
and restated as follows: 
 “(m) a one-time Investment by Holdings or any Restricted Subsidiary
in the Benchmark Entities to be made on or about May 6, 2022 from proceeds of cash on the balance sheet of the Borrower, provided all of the following conditions are satisfied: 

(i) no Default or Event of Default has occurred and is continuing or would arise as a result of such Investment; 

(ii) after giving effect to such Investment, Holdings is in compliance on a pro forma basis with the covenants set forth in Section 7.1,
recomputed for the most recent quarter for which financial statements have been delivered; and 
 (iii) the aggregate Investment permitted
pursuant to this clause (m) shall not exceed $10,000,000;” 
 3. CONDITIONS TO EFFECTIVENESS OF THIS AMENDMENT. The effectiveness
of this Amendment, including the amendments set forth in Section 2 above, is subject to the following: 
 (a) The
receipt by the Administrative Agent of one or more counterparts of this Agreement duly executed and delivered by the Borrower, Holdings, each other Loan Party, and the Administrative Agent and the Lenders. 

  
 -2- 

 (b) The representations and warranties set forth in this Amendment are true and correct in
all material respects (without duplication of any materiality qualifier contained therein). 
 4. REPRESENTATIONS AND WARRANTIES. Borrower,
and each other Loan Party by executing the Acknowledgment and Consent attached hereto, hereby represents and warrants with and to Administrative Agent and the Lenders as follows: 

(a) Representations and Warranties. On and as of the date hereof, and after giving effect to this Amendment: (i) each of the
representations and warranties contained in the Loan Documents was true and correct in all material respects when made and is true and correct in all material respects on and as of the date of this Amendment (other than those representations and
warranties that are expressly qualified by a Material Adverse Effect or other materiality qualification, in which case such representations and warranties shall be true and correct in all respects) with the same full force and effect as if each of
such representations and warranties had been made by such Person on the date hereof and in this Amendment, except for any representation and warranty that for representations and warranties expressly stated to relate to a specific earlier date, in
which case such representations and warranties shall remain true and correct in all material respects as of such earlier date (other than those representations and warranties that are expressly qualified by a Material Adverse Effect or other
materiality qualification, in which case such representations and warranties shall be true and correct in all respects as of such earlier date), and (ii) no Default or Event of Default exists. 

(b) Material Adverse Effect. Since December 31, 2021, there has been no development, event or change in condition that has had or
could reasonably be expected to have a Material Adverse Effect. 
 (c) Binding Effect of Documents. This Amendment and the other Loan
Documents have been duly executed and delivered to Administrative Agent and the Lenders by the Borrower and each of the other Loan Parties and are in full force and effect, as modified hereby. 

(d) No Conflict, Etc. The execution and delivery and performance of this Amendment by the Borrower and each of the other Loan Parties
will not (i) contravene the terms of any of that Person’s organizational documents, (ii) conflict with or result in any material breach or contravention of, or result in the creation of any Lien (other than Liens securing the
Obligations) under, any document evidencing any material contractual obligation to which such Person is a party or any order, injunction, writ or decree of any Governmental Authority to which such Person or its Property is subject; or
(iii) violate any material Requirement of Law in any material respect. 
 (e) Events of Default. Immediately prior to, and
after giving effect to this Amendment, no Default or Event of Default has occurred and is continuing as of the date hereof. 

  
 -3- 

 5. PROVISIONS OF GENERAL APPLICATION. 

(a) Effect of this Amendment. Except for the amendments expressly set forth and referred to in Section 2, no
other changes or modifications to the Loan Documents are intended or implied and in all other respects the Loan Documents are hereby specifically ratified and confirmed by all parties hereto as of the date hereof. In the event of any conflict
between the terms of this Amendment and the other Loan Documents, the terms of this Amendment shall control. Nothing in this Amendment is intended, or shall be construed, to constitute a novation or an accord and satisfaction of any Loan
Party’s Obligations under or in connection with the Credit Agreement or any of the other Loan Documents or to modify, affect or impair the perfection or continuity of Administrative Agent’s security interests in, security titles to or
other liens on any Collateral for the Obligations. The Credit Agreement and this Amendment shall be read and construed as one agreement. Administrative Agent and the Lenders hereby notify the Loan Parties that, effective from and after the date of
this Amendment, Administrative Agent and the Lenders intend to enforce all of the provisions of the Loan Documents and that Administrative Agent and the Lenders expect that the Loan Parties will strictly comply with the terms of the Loan Documents
from and after this date. 
 (b) Loan Document. The parties hereto acknowledge, confirm and agree that this Amendment shall constitute
a Loan Document under the Credit Agreement. 
 (c) Costs and Expenses. The Loan Parties absolutely and unconditionally agree to
pay to Administrative Agent, on demand by Administrative Agent at any time and as often as the occasion therefore may require reasonable costs and expenses actually incurred in connection with the development, preparation and execution of,
this Amendment and any other documents prepared in connection herewith, and the consummation and administration of the transactions contemplated hereby and thereby, including the reasonable fees and disbursements of counsel to the Administrative
Agent and filing and recording fees and expenses which shall at any time be incurred or sustained by Administrative Agent or any of its directors, officers, employees or agents as a consequence of or in any way in connection with the preparation,
negotiation, execution, or delivery of this Amendment and any agreements prepared, negotiated, executed or delivered in connection herewith, all in accordance with the terms and conditions set forth in Section 10.5 of the
Credit Agreement. 
 (d) Further Assurances. The parties hereto shall execute and deliver such additional documents and take such
additional action as may be reasonably necessary or desirable to effectuate the provisions and purposes of this Amendment. 
 (e) Binding
Effect. This Amendment shall be binding upon and inure to the benefit of each of the parties hereto and their respective successors and assigns. 

(f) Survival of Representations and Warranties. All representations and warranties made in this Amendment or any other document
furnished in connection with this Amendment shall survive the execution and delivery of this Amendment and the other documents, and no investigation by Administrative Agent or any Lender shall affect the representations and warranties or the right
of Administrative Agent or the Lenders to rely upon them. 

  
 -4- 

 (g) Releases. As a material inducement to Administrative Agent and the Lenders to
enter into this Amendment and to grant concessions to the Loan Parties, all in accordance with and subject to the terms and conditions of this Amendment, each Loan Party: 

(i) Does hereby remise, release, acquit, satisfy and forever discharge Administrative Agent and the Lenders and their
subsidiaries and affiliates, and all of their respective past, present and future officers, directors, employees, agents, attorneys, representatives, participants, heirs, successors and assigns (each a “Releasee” and collectively,
the “Releasees”) from any and all manner of debts, accountings, bonds, warranties, representations, covenants, promises, contracts, controversies, arguments, liabilities, obligations, expenses, damages, judgments, executions,
actions, claims, demands and causes of action of any nature whatsoever, whether at law or in equity, either now accrued or hereafter maturing or whether known or unknown, which any Loan Party now has or hereafter can, shall or may have by reason of
any manner, cause or things, from the beginning of the world to and including the date of this Amendment, with respect to matters arising out of, in connection with or related to (A) any and all obligations owed or owing to any Releasee under
any document evidencing financial arrangements by, among and between such Releasee and any Loan Party, relating to the Credit Agreement, and including, but not limited to, the administration or funding thereof; (B) the Credit Agreement and
indebtedness evidenced and secured thereby; or (C) any other agreement or transaction between any Loan Party and any Releasee entered into in connection with the Credit Agreement, except that the Loan Parties shall have no obligation hereunder
to a Releasee with respect to any of the foregoing matters resulting from the gross negligence or willful misconduct of such Releasee as finally determined by a court of competent jurisdiction. 

(ii) Does hereby covenant and agree never to institute or cause to be instituted or continued prosecution of any suit or other
form of action or proceeding of any kind or nature whatsoever against any Releasee by reason of or in connection with any of the foregoing matters, claims or causes of action; provided, however, that the foregoing release and covenant
not to sue shall not apply to any claim arising after the date of this Amendment with respect to acts, occurrences or events after the date of this Amendment; and, further provided that the foregoing release and covenant not to sue
shall not apply to any rights or claims, if any, of any third party creditors of any Loan Party. If any Loan Party or any of its successors, assigns or other legal representations violates the foregoing covenant, such Loan Party and its successors,
assigns and legal representatives, jointly and severally agree to pay, in addition to such other damages as any Releasee may sustain as a result of such violation, all attorneys’ fees and costs incurred by any Releasee as a result of such
violation. 

  
 -5- 

 (iii) Does hereby expressly acknowledge and agree that the covenants and
agreements of Administrative Agent and the Lenders contained in this Amendment shall not be construed as an admission of any wrongdoing, liability or culpability on the part of Administrative Agent or any Lender or as any admission by Administrative
Agent or any Lender of the existence of claims by any Loan Party against Administrative Agent, the Lenders or any other Releasee. Each Loan Party, Administrative Agent and the Lenders acknowledge and agree that the value to the Loan Parties of the
covenants, consents and agreements on the part of Administrative Agent and the Lenders contained in this Amendment substantially and materially exceed any and all value of any kind or nature whatsoever of any claims or other liabilities waived or
released by the Loan Parties. 
 (iv) Notwithstanding anything contained in this Amendment, the general release set forth in
this Amendment shall not extend to and shall not include any duties or obligations of Administrative Agent or the Lenders in the Credit Agreement as modified by this Amendment or in any of the Loan Documents. 

(h) Entire Agreement. This Amendment represents the entire agreement of the Borrower, the Administrative Agent and the Lenders with
respect to the subject matter hereof and thereof and supersedes all prior understandings, negotiations, correspondence and agreements of the parties regarding such subject matter. 

(i) GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED
AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK)
WITHOUT REFERENCE TO THE CONFLICTS OR CHOICE OF LAW PRINCIPLES THEREOF OTHER THAN SUCH SECTION 5-1401. 

(j) Incorporation of Credit Agreement Provisions. The provisions contained in Sections 10.9, 10.12, and 10.17 of the Credit Agreement
are incorporated herein by reference to the same extent as if reproduced herein in their entirety. 
 (k) Counterparts. This Amendment
may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Signature pages may be detached from multiple separate
counterparts and attached to a single counterpart. Delivery of an executed signature page of this Amendment by facsimile transmission or Electronic Transmission shall be as effective as delivery of a manually executed counterpart hereof. 

[Remainder of page intentionally blank; next page is signature page] 

  
 -6- 

 IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed by
their respective officers thereunto duly authorized, as of the date first above written. 
  

			
	 BORROWER:
  

TREAN CORPORATION, a Minnesota corporation

		
	By:	 	 /s/ Nicholas J. Vassallo

	Name:	 	Nicholas J. Vassallo
	Title:	 	Chief Financial Officer and Treasurer
	
	TREAN COMPSTAR HOLDINGS LLC, a Delaware limited liability company
		
	By:	 	 /s/ Nicholas J. Vassallo

	Name:	 	Nicholas J. Vassallo
	Title:	 	Chief Financial Officer and Treasurer
	
	BENCHMARK ADMINISTRATORS, LLC, a California limited liability company
		
	By:	 	 /s/ Nicholas J. Vassallo

	Name:	 	Nicholas J. Vassallo
	Title:	 	Chief Financial Officer and Treasurer
	
	TREAN INSURANCE GROUP, INC., a Delaware corporation, as Holdings and a Borrower
		
	By:	 	 /s/ Nicholas J. Vassallo

	Name:	 	Nicholas J. Vassallo
	Title:	 	Chief Financial Officer and Treasurer

 TREAN 

FIRST AMENDMENT TO SECOND A&R CREDIT AGREEMENT 

SIGNATURE PAGE 

 
			
	 OTHER LOAN PARTIES:
  

WESTCAP INSURANCE SERVICES, LLC, a California limited liability company

		
	By:	 	 /s/ Nicholas J. Vassallo

	Name:	 	Nicholas J. Vassallo
	Title:	 	Chief Financial Officer and Treasurer
	
	TREAN REINSURANCE SERVICES, LLC, a Minnesota limited liability company
		
	By:	 	 /s/ Nicholas J. Vassallo

	Name:	 	Nicholas J. Vassallo
	Title:	 	Chief Financial Officer and Treasurer
	
	COMPSTAR INSURANCE SERVICES, LLC, a California limited liability company
		
	By:	 	 /s/ Nicholas J. Vassallo

	Name:	 	Nicholas J. Vassallo
	Title:	 	Chief Financial Officer and Treasurer
	
	COMPSTAR HOLDING COMPANY LLC, a Delaware limited liability company
		
	By:	 	 /s/ Nicholas J. Vassallo

	Name:	 	Nicholas J. Vassallo
	Title:	 	Chief Financial Officer and Treasurer

 TREAN 

FIRST AMENDMENT TO SECOND A&R CREDIT AGREEMENT 

SIGNATURE PAGE 

 
			
	FIRST HORIZON BANK, as Administrative Agent, Swingline Lender and a Lender
		
	By:	 	 /s/ Leslie Johnson

	Name:	 	Leslie Johnson
	Title:	 	Managing Director

 TREAN 

FIRST AMENDMENT TO SECOND A&R CREDIT AGREEMENT 

SIGNATURE PAGE

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