Document:

Exhibit 10.7

 

CAPITAL COMMITMENT AGREEMENT

 

This Capital Commitment
Agreement (this “Agreement”) is entered into this 6th day of October, 2021 by and between IX Acquisition
Corp., a Cayman Islands exempted company (the “Company”), and IX Acquisition Sponsor, LLC, a Delaware limited liability
company (“Sponsor”).

 

WHEREAS, by execution and delivery
of this Agreement, Sponsor intends to commit to fund the Company’s working capital requirements up to an aggregate capital commitment
of $1,400,000 (the “Capital Commitment”).

 

NOW, THEREFORE, for good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby covenant and agree as follows:

 

		1.	Capital Commitment. The Company may call the Capital Commitment from the Sponsor in one or more
draws, but only to the extent such call of the Capital Commitment is in compliance with the terms and conditions of Section 3 below. The
obligations of Sponsor hereunder shall be subject to ninety (90) days’ prior written notice from the Company to the Sponsor. In
connection with the funding of the Capital Commitment, the Company shall issue a note in form attached hereto as Exhibit A to Sponsor
for an aggregate amount of up to the Capital Commitment. By execution hereof, Sponsor hereby covenants, acknowledges and agrees that Sponsor
shall pay the Capital Commitment to the Company in accordance with the terms hereof.

 

		2.	Use of Proceeds. The Company covenants and agrees that the proceeds of the Capital Commitment shall
be utilized to fund the working capital of the Company.

 

		3.	Capital Calls; Defaults.

 

		a.	From time to time following January 15, 2022 (subject to the last sentence hereof), upon determination by
the Company’s independent directors, the Company may deliver written notice (a “Capital Call Notice”) to Sponsor specifying
the aggregate amount of the Capital Commitment required to be funded by Sponsor (the “Call Amount”). The funding of such Call
Amount shall occur on the ninetieth (90th) day following the delivery of such Capital Call Notice or such earlier date as may
be agreed to by the Sponsor (such date, the “Requisite Funding Date”). On or before the Requisite Funding Date, Sponsor shall
deliver such Call Amount by wire transfer of immediately available funds to an account designated by the Company. Notwithstanding the
foregoing or anything else in this Agreement to the contrary, (i) in no event shall Sponsor be required to fund an aggregate amount in
excess of the Capital Commitment, (ii) Sponsor’s obligations hereunder shall terminate and be of no further force or effect upon
the Company’s liquidation or upon the approval by the Company’s board of directors of the Company’s liquidation, (iii)
in no event shall Sponsor have any liability for any amounts in excess of the Capital Commitment (when taken together with all amounts
previously funded pursuant to a Capital Call Notice), and (iv) any proceeds provided by Sponsor to the Company for purposes of funding
the working capital of the Company shall, regardless of whether such funds have been provided in response to a Capital Call under this
Agreement, reduce the Capital Commitment on a dollar for dollar basis.

 

		b.	Subject to the terms and conditions hereof, in the event that Sponsor fails to fund the applicable Call
Amount set forth in an applicable Capital Call Notice within ninety (90) days following the date set forth in such Capital Call Notice,
then Sponsor shall be deemed in default of its obligations hereunder (a “Call Default”). In the event of a Call Default, the
Company shall be entitled to seek specific performance of the Sponsor’s obligations with respect to such Call Default.

 

    

     

    

 

		4.	Representations and Warranties. Sponsor makes the following representations and warranties with
the intent that the same may be relied upon by the Company:

 

		a.	Authorization. The execution, delivery and performance of this Agreement by Sponsor has been duly
authorized by all necessary limited liability company, partnership or corporate action, and Sponsor has full power and authority to enter
into this letter agreement and to perform its obligations hereunder. This Agreement constitutes the valid and legally binding obligation
of Sponsor, enforceable in accordance with its terms, except to the extent limited by bankruptcy, insolvency, reorganization, moratorium
or similar laws affecting creditors’ rights generally or by general equitable principles.

 

		b.	Conflict. Neither the execution and delivery by Sponsor of this Agreement nor the consummation
by Sponsor of the transactions contemplated hereby, will require on the part of Sponsor any filing with, or permit, authorization, consent
or approval of, any government or governmental agency or instrumentality, whether federal, state or local, domestic or foreign.

 

		5.	Entire Agreement. This Agreement reflects the entire agreement among the parties hereto with respect
to the subject matter set forth herein and supersedes and replaces any other agreement or understanding with respect thereto.

 

		6.	Governing Law. This letter shall be a binding obligation of the parties hereto. This letter shall
be governed by Delaware law.

 

[Remainder of page
intentionally left blank]

 

    

     

    

 

This Capital Commitment Agreement is
executed and delivered as of the date first set forth above.

 

IX
Acquisition Sponsor, LLC

By: IX Acquisition Manager LLC, its sole member

 

	By:	/s/ Noah Aptekar	 
	Name:	Noah Aptekar	 
	Title:	Manager	 

 

IX
Acquisition Corp.

 

	By:	/s/ Noah Aptekar	 
	Name:	Noah Aptekar	 
	Title:	Chief Financial Officer	 

 

    

     

    

 

Exhibit A

 

Form of Note

 

[attached]Exhibit 10.1(a)

 

FIRST AMENDMENT TO THE

 

WINC, INC.

 

SEVENTH AMENDED AND RESTATED 

INVESTORS’ RIGHTS AGREEMENT

 

THIS FIRST AMENDMENT TO THE
WINC, INC. SEVENTH AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT (this “Amendment”), dated as of the
October 6, 2021, is entered into by and among Winc, Inc., a Delaware corporation (the “Company”), and
the undersigned investors constituting the holders of a majority of the Registrable Securities currently outstanding and the holders
a majority of the Registrable Securities then held by the Major Investors (collectively, the “Holders”). Capitalized
terms used but not otherwise defined herein shall have the respective meanings ascribed to them in the Agreement (as defined below).

 

WHEREAS,
the Company and the Holders previously entered into that certain Winc, Inc. Seventh Amended and Restated Investors’ Rights
Agreement, dated April 6, 2021 (the “Agreement”);

 

WHEREAS,
pursuant to Section 6.6 of the Agreement, the Agreement may be amended only with the written consent of the Company, the holders
of a majority of the Registrable Securities then outstanding, and the holders a majority of the Registrable Securities then held by the
Major Investors; and

 

WHEREAS,
the Company and the undersigned Holders, representing holders of a majority of the Registrable Securities currently outstanding and the
holders a majority of the Registrable Securities then held by the Major Investors, desire to amend the Agreement as set forth herein.

 

RESOLVED,
that, for consideration that is acknowledged by each of the Company and the Holders, the Agreement is hereby amended as set forth herein.

 

1.            Section 2.13
of the Agreement is hereby amended and restated to read in its entirety as follows:

 

“Termination of
Registration Rights. The right of any Holder to request registration or inclusion of Registrable Securities in any registration pursuant
to Subsections 2.1 or 2.2 shall terminate upon the earliest to occur of:

 

(a)            the
closing of a Deemed Liquidation Event;

 

(b)            the
fifth (5th) anniversary of the QIPO; and

 

(c)            such
time as such Holder holds less than 1% of the Company’s outstanding Common Stock (treating all shares of Preferred Stock on an
as converted basis) and all Common Stock held by or issuable to such Holder (and its Affiliates) may be sold pursuant to SEC Rule 144
during any ninety (90) day period.”

 

    1 

     

    

 

2.            This
Amendment shall be and is hereby incorporated in and forms a part of the Agreement.

 

3.            This
Amendment shall be effective as of the date first written above.

 

4.            This
Amendment shall be governed by and construed in accordance with the General Corporation Law of the State of Delaware without regard to
conflicts of law principles thereof.

 

5.            This
Amendment may be executed and delivered by facsimile signature, PDF or any electronic signature complying with the US federal ESIGN Act
of 2000 (e.g., www.docusign.com) and 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.

 

6.            Except
as set forth herein, the Agreement shall remain in full force and effect.

 

[signature pages follow]

 

    2 

     

    

 

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

 

	COMPANY:	 
	 	 
	WINC, INC.	 
	 	 
	 	 
	By:	/s/
    Matthew Thelen	 
	Name:	Matthew
    Thelen	 
	Title:	General
    Counsel	 

 

	Address:		 
	 	 	 

 

[Signature Page to the First Amendment
to the Winc, Inc. 

Seventh
Amended And Restated Investors’ Rights Agreement]

 

     

     

    

 

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

  

	HOLDER:	 
	 	 
	15
    ANGELS II LLC	 
	 	 
	 	 
	By:	/s/
    Scott Ring	 
	Name:	Scott
    Ring	 
	Title:	Authorized
    Person	 

 

	Address:	1865 Palmer
    Ave., Suite 104	 
	 	Larchmont,
    NY 10538	 

 

[Signature Page to the First Amendment
to the Winc, Inc. 

Seventh
Amended And Restated Investors’ Rights Agreement]

 

     

     

    

 

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

 

	HOLDER:	 
	 	 
	BESSEMER
    VENTURE PARTNERS VIII	 
	INSTITUTIONAL
    l.p.	 
	By:
    Deer VIII & Co. L.P., its general partner	 
	By:
    Deer VIII & Co. Ltd., its general partner	 
	 	 
	 	 
	By:	/s/
    Scott Ring	 
	Name:	Scott
    Ring	 
	Title:	Authorized
    Person	 

 

	Address:	c/o
    Bessemer Venture Partners	 
	 	1865 Palmer
    Ave., Suite 104	 
	 	Larchmont,
    NY 10538	 

 

[Signature Page to the First Amendment
to the Winc, Inc. 

Seventh
Amended And Restated Investors’ Rights Agreement]

 

     

     

    

 

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

 

	HOLDER:	 
	 	 
	GOBLUE
    VENTURES LLC	 
	 	 
	 	 
	By:	/s/
    Scott Ring	 
	Name:	Scott
    Ring	 
	Title:	Authorized
    Person	 

 

	Address:	1865 Palmer
    Ave., Suite 104	 
	 	Larchmont,
    NY 10538	 

 

[Signature Page to the First Amendment
to the Winc, Inc. 

Seventh
Amended And Restated Investors’ Rights Agreement]

 

     

     

    

 

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

 

	HOLDER:	 
	 	 
	WAHOOWA
    VENTURES LLC	 
	 	 
	 	 
	By:	/s/
    Scott Ring	 
	Name:	Scott
    Ring	 
	Title:	Authorized
    Person	 

 

	Address:	1865 Palmer
    Ave., Suite 104	 
	 	Larchmont,
    NY 10538	 

 

[Signature Page to the First Amendment
to the Winc, Inc. 

Seventh
Amended And Restated Investors’ Rights Agreement]

 

     

     

    

 

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

 

	HOLDER:	 
	 	 
	C2
    CLUB W HOLDINGS LLC	 
	 	 
	 	 
	By:	/s/
    Rick Smith	 
	Name:	Rick Smith	 
	Title:	Principal	 

 

	Address:		 
	 	 	 

 

[Signature Page to the First Amendment
to the Winc, Inc. 

Seventh
Amended And Restated Investors’ Rights Agreement]

 

     

     

    

 

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

 

	HOLDER:	 
	 	 
	C2
    CLUB W SPV LLC	 
	 	 
	 	 
	By:	/s/
    Rick Smith	 
	Name:	Rick Smith	 
	Title:	Principal	 

 

	Address:	 	 
	 	 	 

 

[Signature Page to the First Amendment
to the Winc, Inc. 

Seventh
Amended And Restated Investors’ Rights Agreement]

 

     

     

    

 

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

 

	HOLDER:	 
	 	 
	CROSCUT
    VENTURES 2 L.P.	 
	 	 
	 	 
	By:	/s/ Rick Smith	 
	Name:	Rick Smith	 
	Title:	Principal	 

 

	Address:		 
	 	 	 

 

[Signature Page to the First Amendment
to the Winc, Inc. 

Seventh
Amended And Restated Investors’ Rights Agreement]

 

     

     

    

 

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

 

	HOLDER:	 
	 	 
	RICE
    WINE VENTURES LLC	 
	 	 
	 	 
	By:	/s/ Shuhei Ohashi	 
	Name:	Shuhei Ohashi	 
	Title:	Manager	 

 

	Address:		 
	 	 	 

 

[Signature Page to the First Amendment
to the Winc, Inc. 

Seventh
Amended And Restated Investors’ Rights Agreement]

 

     

     

    

 

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

 

	HOLDER:	 
	 	 
	SAKE
    VENTURES, LLC	 
	 	 
	 	 
	By:	/s/ Akihiro Ishii	 
	Name:	Akihiro Ishii	 
	Title:	Manager	 
	 	 

 

	Address:		 
	 	 	 

 

[Signature Page to the First Amendment
to the Winc, Inc. 

Seventh
Amended And Restated Investors’ Rights Agreement]

 

     

     

    

 

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

 

	HOLDER:	 
	 	 
	DREAM
    CATCHER INVESTMENTS	 
	 	 
	 	 
	By:	/s/ Xiangwei Weng	 
	Name:	Xiangwei Weng	 
	Title:	 	 

 

	Address:		 
	 	 	 

 

[Signature Page to the First Amendment
to the Winc, Inc. 

Seventh
Amended And Restated Investors’ Rights Agreement]

 

     

     

    

 

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

 

	HOLDER:	 
	 	 
	DREAMER
    PATHWAY LIMITED (BVI)	 
	 	 
	 	 
	By:	/s/ Xiangwei Weng	 
	Name:	Xiangwei Weng	 
	Title:	 	 

 

	Address:	 	 
	 	 	 

 

[Signature Page to the First Amendment
to the Winc, Inc. 

Seventh
Amended And Restated Investors’ Rights Agreement]

 

     

     

    

 

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

 

	HOLDER:	 
	 	 
	SHININGWINE
    LIMITED (BVI)	 
	 	 
	 	 
	By:	/s/ Xiangwei Weng	 
	Name:	Xiangwei Weng	 
	Title:	 	 

 

	Address:		 
	 	 	 

 

[Signature Page to the First Amendment
to the Winc, Inc. 

Seventh
Amended And Restated Investors’ Rights Agreement]

 

     

     

    

 

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

 

	HOLDER:	 
	 	 
	SIEMER
    VENTURES II LP (D/B/A WAVEMAKER PARTNERS II)	 
	 	 
	 	 
	By:	/s/
    Eric Manlunas	 
	Name:	Eric Manlunas	 
	Title:	Principal	 

 

	Address:		 
	 	 	 

 

[Signature Page to the First Amendment
to the Winc, Inc. 

Seventh
Amended And Restated Investors’ Rights Agreement]

 

     

     

    

 

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

 

	HOLDER:	 
	 	 
	WAVEMAKER
    GLOBAL SELECT LLC	 
	 	 
	 	 
	By:	/s/
    Eric Manlunas	 
	Name:	Eric Manlunas	 
	Title:	Principal	 
	 	 

 

	Address:	 	 
	 	 	 

 

[Signature Page to the First Amendment
to the Winc, Inc. 

Seventh
Amended And Restated Investors’ Rights Agreement]

 

     

     

    

 

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

 

	HOLDER:	 
	 	 
	WAVEMAKER
    PARTNERS V LP	 
	 	 
	 	 
	By:	/s/ Eric Manlunas	 
	Name:	Eric Manlunas	 
	Title:	Principal	 
	 	 

 

	Address:	 	 
	 	 	 

 

[Signature Page to the First Amendment
to the Winc, Inc. 

Seventh
Amended And Restated Investors’ Rights Agreement]

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