Document:

EX-10.24

 Exhibit 10.24 

 

	*	 Portions of this exhibit have been excluded because it both (i) is not material and (ii) would be competitively
harmful if publicly disclosed. 

  
  

 
 SUPPORT SERVICES AGREEMENT 

by and between 
 APEX CLEARING
CORPORATION 
 and 
 APEX CRYPTO
LLC 
 Effective as of October 1, 2020 
  

 
  

 SUPPORT SERVICES AGREEMENT 

This SUPPORT SERVICES AGREEMENT (this “Agreement”) is executed March 22, 2021, and shall be effective as of
October 1, 2020 (the “Effective Date”), by and between Apex Clearing Corporation (“Apex”) and Apex Crypto LLC (“Crypto”). 

W I T N E S S E T H: 

WHEREAS, Apex is willing to provide or arrange for the provision of certain services to Crypto and its subsidiaries, all upon the terms and
conditions set forth herein. 
 NOW, THEREFORE, in consideration of the promises contained herein, it is agreed as follows: 

1. Term. The term of this Agreement shall commence as of the Effective Date hereof and shall remain in effect until the earliest to
occur of (a) such time as no Services (defined below) have been provided by Apex to Crypto hereunder for a continuous period of three (3) months and no future Services are contemplated at such time, (b) the termination of this
Agreement in accordance with Section 8, and (c) the first (1st) anniversary of the Effective Date hereof. This Agreement may be terminated by a party as provided herein or, as provided in Section 8, with respect to a
particular Service or group of Services only, in which case it shall remain in full force and effect with respect to the other Services described herein. 

2. Services. Crypto hereby engages Apex to provide certain monitoring and support services from time to time and upon request, as set
forth on Exhibit A attached hereto and as may otherwise be agreed between the parties after the Effective Date (the “Services”), on the terms and conditions set forth herein (the “Engagement”).
Notwithstanding the foregoing, Apex need not make available nor provide any Services to the extent that doing so would unreasonably interfere with the performance by any employee of such employee’s duties for Apex or otherwise cause
unreasonable burden to Apex. 
 3. Charges for Services. 

(a) As compensation for the Services and the rights granted to Crypto under this Agreement, Crypto shall pay Apex the
compensation set forth on Exhibit A (the Fees , which is based on a five percent (5%) mark-up above Apex’s fully-loaded costs of providing the Services. Apex shall bear all of its expenses in accomplishing the Services, unless specified
in Exhibit A or agreed to in writing in advance by Crypto, including any travel or other costs or expenses and any applicable sales or use taxes. Upon reasonable request by either party, the parties shall meet and discuss the then-current
Fees and whether the Fees need to be adjusted for additional or future Services, to be mutually agreed between the parties. 

(b) Apex shall invoice Crypto on a quarterly basis for all Services performed by Apex and expenses to the extent reimbursable
during the immediately preceding calendar quarter. Each invoice (unless disputed as otherwise provided below) shall be due and payable thirty (30) days after Crypto’s receipt thereof. If there is a reasonable and good faith dispute with
regard to a portion of an invoice, Crypto shall provide notice and 

 
detail of the dispute prior to the payment due date, and shall pay the undisputed portion as provided in this Agreement. The parties shall work together in good faith to resolve any dispute under
this Section 3(b) as soon as practicable by escalating such dispute to higher levels of management if necessary. 
 4.
Representations and Warranties. 
 (a) Each party represents and warrants that: (i) it has all requisite legal
and corporate power to execute and deliver this Agreement; (ii) it has taken all corporate action necessary for the authorization, execution and delivery of this Agreement; (iii) no agreement or understanding with any other person, firm,
corporation or other entity exists or will exist which would interfere with its obligations under this Agreement; and (iv) this Agreement is a legal, valid and binding obligation enforceable against it in accordance with the terms of this
Agreement. 
 (b) Apex represents and warrants that it will perform the Services in a workmanlike and professional manner
according to the applicable Service descriptions set forth in Exhibit A and as determined by the parties from time to time and in compliance with the terms and conditions of this Agreement. 

(c) Disclaimer. EXCEPT AS OTHERWISE STATED IN THIS AGREEMENT, NEITHER PARTY MAKES ANY WARRANTIES OF ANY KIND OR NATURE, WHETHER
EXPRESS OR IMPLIED OR STATUTORY, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF MERCHANTABILITY, NON-INFRINGEMENT, TITLE, FITNESS FOR A PARTICULAR PURPOSE OR USE, OR THOSE ARISING FROM A COURSE OF DEALING OR
USAGE OF TRADE. 
 5. Confidentiality. As used herein: 

“Associated Third Parties” means third parties associated with either party, including each party’s
customers, suppliers, licensors, licensees, partners, collaborators, vendors, distributors and buyers. 
 “Associated Third Party
Confidential Information” means any and all confidential, secret, proprietary or otherwise non-public documents, materials and other information, in tangible and intangible form, including such
information as may be shared prior to the Effective Date, of Associated Third Parties. By way of example, Associated Third Party Confidential Information may include the habits or practices of Associated Third Parties, technology of Associated Third
Parties, requirements of Associated Third Parties and information related to the business conducted between a party and such Associated Third Parties; provided, however, that Associated Third Party Confidential Information does not
include any documents, materials or other information to the extent the same have become publicly known and made generally available through no wrongful act of a party or of others. 

“Confidential Information” means any and all confidential, secret proprietary or otherwise non-public documents, materials and other information, in tangible and intangible form, including such information as may be shared prior to the Effective Date, that relate to the actual or anticipated business,
operations, research or development of either party, including (i) research, 

  
 2 

 
strategies (including business, marketing, development, sales and other commercial strategies), internal practices, plans, timetables, forecasts and other information regarding a party’s
products or services and markets therefor (including names, costs, pricing, sales and credit information and market studies), (ii) inventions, developments, ideas, techniques, methods, discoveries, results, trade secrets, know-how, copyrightable material, patents and patent applications, works of authorship and other confidential intellectual property, (iii) designs, specifications, documentation, components, software (including
source code), object code, algorithms, data, data structures, scripts, applications, programming interfaces, images, icons, audiovisual components and objects, schematics, drawings, models, mask works, graphics, protocols, processes, formulae and
other visual depictions, in whole or in part, of any of the foregoing, and (iv) marketing, human resources, legal, accounting, financial, organizational and other business information and records; provided, however, that a
party’s Confidential Information does not include any of the foregoing items to the extent the same have become publicly known and made generally available through no wrongful act of the other party or of others. Each party understands and
agrees that (1) the above list is not exhaustive and each party’s Confidential Information also includes documents, materials and other information marked or otherwise identified as confidential or proprietary or that would otherwise
appear to a reasonable person to be confidential, secret, proprietary or otherwise non-public in the context and circumstances in which the such documents, materials or information are known or used and
(2) Confidential Information developed by Apex in the course of the Engagement shall be subject to the terms and conditions hereof as if Crypto furnished the same Confidential Information to Apex in the first instance. Confidential Information
also includes any personally identifiable information of an individual. 
 (a) During and after the term of the Engagement, each party will
treat all Confidential Information and Associated Third Party Confidential Information of the disclosing party, to the extent that such disclosing party is permitted to share such information with the other party, as strictly confidential and will
not, directly or indirectly, access, use, copy, remove or disclose to any entity or person (including any employee of such party not having the need and authority to know and use the Confidential Information or Associated Third Party Confidential
Information, as applicable, in connection with such party’s business), in whole or in part, any Confidential Information or Associated Third Party Confidential Information, except as required in the performance of such party’s performance
of its obligations hereunder or with the written authorization of an executive officer. Notwithstanding the foregoing, nothing herein shall be construed to prevent disclosure of Confidential Information or Associated Third Party Confidential
Information as may be required by applicable law or regulation or pursuant to the valid order of a court of competent jurisdiction or an authorized government agency, provided that (i) such disclosure does not exceed the extent of disclosure
required by such law, regulation or order and (ii) the receiving party promptly provides written notice of any such order to an executive officer of the disclosing party and allows the disclosing party to seek a protective order or other
appropriate remedy. Each party also agrees to comply with any and all reasonable policies and guidelines that may be adopted from time to time regarding the other party’s Confidential Information, Associated Third Parties and Associated Third
Party Confidential Information. 
 (b) Each party agrees that, during the term of the Engagement, such party will not improperly use,
disclose or induce the other party to use any confidential, secret, proprietary or otherwise non-public information or trade secrets of any other entity or person. Each party also agrees that it will not bring
onto the other party’s premises, or transfer onto the other party’s technology systems, any unpublished document, materials, source code, proprietary information or trade secret belonging to any such other entity or person unless consented
to in writing by both the other party and such other entity or person. 

  
 3 

 6. Indemnification; Limitation of Liability. 

(a) Each Party (an”Indemnitor”) shall indemnify, defend and hold harmiess the other party and its employees,
directors, members, offcers and agents (each, an “Indemnitee”) form and against any and all third-party claims and losses (inceluding reasonable attorneys’ fess) incurred by the indemnitee resulting in (i) bodily injury,
death or physical damage to real or tangible personal property of such third party, to the extent such injury, death or damage is caused by the negligent act or willful misconduct of the Indemnitor in the performance of its responsibilities in
connection with this Agreement, or (ii) arising from any breach of this Agreement by the indemnitor. 
 (b) Apex will indemnify, defend
and hold harmless Crypto and its employees, directors, members, officers and agents from and against any and all third-party claims against Crypto and will pay any costs, losses or damages that may be finally awarded against Crypto (including
reasonable attootneys’ fees) to the extent specifically based on any claimed infringement or misappropriation by the Services or deliverables provided by Apex of any third party copyright, trademark, trade secret, patent or other intellectual
property right; provided that (a) Crypto notifies Apex in writing within thirty (30) calendar days of its receipt of written notice of the claim (provided, however, that any delay by Crypto in giving such notice shall not excuse
Apex’s obligations under this Section except to the extent, if any, that Apex is prejudiced by such delay); (b) Apex has sole control of the defense and settlement of the claim; and (c) Crypto provides Apex with all reasonable assistance,
information, and authority necessary to perform Apex’s under this paragraph (reasonable out-of-pocket expenses incurred by Crypto in providing such assistance will
be reimbursed by Apex). Crypto may, at its own cost and expense, participate through its attorneys or otherwise in such settlement, investigation, trial and defense of such claim and any appeal arising therefrom. Notwithstanding the foregoing, Apex
will have no liability for any claim of infringement or misappropriation: (i) that is based on the combination, operation, or use of any deliverables with materials (e.g., software, hardware or content) or services not furnished by Apex or any
of its subcontractors; or (ii) that is based on any deliverable that has been altered or modified by Crypto or by any third party other than Apex’s subcontractors. 

(c) EXCEPT WITH RESPECT TO BREACH OF A OBLIGATIONS UNDER SECTION 5 OR ANY INSTANCES OF GROSS NEGLIGENCE, FRAUD, OR WILLFUL
MISCONDUCT: (I) LIABILITY TO THE OTHER UNDER THIS AGREEMENT EXCEED THE AMOUNTS PAID BY CRYPTO TO APEX UNDER THIS AGREEMENT IN THE TWELVE (12) MONTHS PRECEDING THE CLAIM, AND (II) IN NO EVENT WILL EITHER PARTY BE LIABLE TO THE OTHER
FOR ANY CONSEQUENTIAL, INCIDENTAL, INDIRECT, PUNITIVE, EXEMPLARY OR SPECIAL DAMAGES (INCLUDING LOSS OF PROFITS, DATA, BUSINESS OR GOODWILL), REGARDLESS OF THE FORM OF ACTION OR THEORY OF RECOVERY AND EVEN IF ADVISED OF THE POSSIBILITY OF SUCH
DAMAGES. 
 7. Services by Third Parties. Apex may not use subcontractors or otherwise procure any of the Services or benefits
specified in Section 2 hereof from a third party without Crypto s prior written consent. 

  
 4 

 8. Termination of Services. 

(a) Termination for Convenience. Either of Crypto or Apex may discontinue Apex’s provision of any or all of the
Services, or terminate this Agreement in its entirety, by providing written notice to the other party setting forth the Services to be discontinued at least thirty (30) days before the requested termination date and Apex shall discontinue
providing such Services on such requested termination date. If any portion of the Services are terminated pursuant to this Section 8(a), the parties shall review and mutually agree upon reasonable adjustments to the Fees. 

(b) Termination for Material Breach. Either party may terminate this Agreement with immediate effect if the other party
breaches any material provision hereof and fails to cure the same within fifteen (15) days of written notice thereof. 

(c) Termination in the Event of a Change of Control. In the event that either Apex or Crypto undergoes a change of
Control such that after such transaction is consummated Apex and Crypto will no longer remain under common Control, either party may terminate this Agreement as of the effective date of such change of Control by providing written notice to the other
party. “Control” (including the terms “controlled by” and “under common control with”) means the possession, directly or indirectly or as trustee or executor, of
the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, as trustee or executor, by contract or credit arrangement or otherwise. 

(d) Post-Termination Payments. Notwithstanding any provision herein to the contrary, all payment obligations hereunder
shall survive the happening of any event causing termination of this Agreement until all amounts due hereunder in respect of the period prior to the date of termination have been paid. 

9. Excused Performance. Apex does not warrant that any of the Services shall be free of interruption caused by any cause or
circumstance beyond its reasonable control, including without limitation any strikes, lockouts, accidents, or inability to obtain third-party cooperation. No such interruption of Services shall be deemed to constitute a breach of any kind whatsoever
and Apex shall have no liability to Crypto for any such interruption of services or benefits. 
 10. Miscellaneous. 

(a) This Agreement and all the covenants herein contained shall be binding upon the parties hereto, their respective
successors, legal representatives and assigns. Neither party shall have the right to assign all or any portion of their obligations or interests in this Agreement or any monies which may be due pursuant hereto without the prior written consent of
the other party, except that either party may assign this Agreement, in connection with any transfer, by operation of law or otherwise (including a change of Control of such party), of all or substantially all of the business or assets of such party
relating to this Agreement to the transferee of such business or assets, subject in Section 8(c). 

  
 5 

 (b) No waiver by any party hereto of any of its rights under this Agreement
shall be effective unless in writing and signed by an officer of the party waiving such right. No waiver of any breach of this Agreement shall constitute a waiver of any subsequent breach, whether or not of the same nature. No failure or delay in
exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any right, power or privilege hereunder. This
Agreement may not be modified or amended except by a writing signed by officers of each of the parties hereto. 
 (c) Nothing
express or implied in this Agreement is intended to confer, nor shall anything herein confer, upon any person other than the parties and their respective successors and permitted assigns, any rights, remedies, obligations or liabilities whatsoever.

 (d) This Agreement constitutes the entire agreement of the parties with respect to the Services described herein, and
cancels and supersedes any and all prior written or oral contracts or negotiations between the parties with respect to the subject matter hereof. 

(e) This Agreement shall be strictly construed as independent from any other agreement or relationship by Apex or any of its
respective affiliates, on the one hand, and Crypto or any of its subsidiaries or affiliates, on the other hand. 
 (f) This
Agreement is made pursuant to and shall be governed and construed in accordance with the laws of the State of Illinois, without regard to the principles of conflict of laws thereof. Each party submits to the exclusive jurisdiction of the state and
federal courts located in Chicago, Illinois in connection with any disputes arising hereunder. 
 (g) The parties hereby
waive and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune
from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such
court. 
 (h) EACH OF APEX AND CRYPTO (ON ITS OWN BEHALF AND, TO THE EXTENT PERMITTED BY LAW, ON BEHALF OF ITS RESPECTIVE
EQUITY HOLDERS AND CREDITORS) HEREBY WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY IN RESPECT OF ANY CLAIM BASED UPON, ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT. 

(i) The descriptive headings of the several sections hereof are inserted for convenience only and shall not control or affect
the meaning or construction of any of the provisions hereof. 
 (j) Sections 4, 8(d) and 10 shall survive the termination,
amendment, modification or waiver of this Agreement indefinitely. 

  
 6 

 (k) Any notice, request or other communication required or permitted in this
Agreement shall be in writing and shall be sufficiently given if personally delivered or if sent by registered or certified mail, postage prepaid, or by email addressed as follows: 

(i) If to Apex: 

Apex Clearing Corporation 

350 St. Paul St., Suite 1300 

Dallas, Texas 75201 

Attn: Legal Department 

Email: apex-legal@apexclearing.com 

(ii) If to Crypto: 

Apex Crypto LLC 

141 W. Jackson Blvd., Suite 50 

Chicago, IL 60604 

Attn: Legal Department 

Email: legal@peak6.com 

The address of either party may be changed on notice to the other party hereto duly served in accordance with the foregoing provisions. 

(l) If any part of any provision of this Agreement shall be invalid or unenforceable under applicable law, said part shall be
ineffective to the extent of such invalidity only, without in any way affecting the remaining parts of said provision or the remaining provisions of this Agreement. 

(m) This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original, but all of
which taken together shall constitute one and the same agreement. Delivery of a facsimile, PDF or other electronic version of one or more signatures to this Agreement shall be deemed adequate delivery for purposes of this Agreement. 

[Signature Page Follows] 

  
 7 

 IN WITNESS WHERE OF, the parties hereto have executed or caused this Support Services Agreement to be
executed in their respective names by their respective officers thereunto duly authorized, as of the date first written above. 
  

			
	APEX CLEARING CORPORATION
		
	By:	 	/s/ William Capuzzi
		 	Name: William Capuzzi
		 	Title: Chief Executive Officer

  

			
	APEX CRYPTO LLC
		
	By:	 	/s/ Daniel Rosenthal
		 	Name: Daniel Rosenthal
		 	Title: CEO

 Signature page to Support Services Agreement 

 EXHIBIT A 

DESCRIPTION OF SERVICES AND COMPENSATION 

DESCRIPTION OF SERVICES 
  

	1.	 Services to Be Performed by Apex. 

 

	 	•	 	 Support and maintenance services as needed and requested by Crypto 

 

	 	•	 	 24/7 alert and monitoring support as needed and requested by Crypto 

 

	 	•	 	 Apex will provide “Pager Duty” licenses to Crypto 

DESCRIPTION OF COMPENSATION 
  

	 	1.	 Crypto shall be charged a total amount of $[****] per month (to be invoiced $[****] quarterly) for the the
"Pager Duty” licenses provided by Apex. 

  

	 	2.	 Additionally, Crypto shall be charged all direct people costs provided by Apex pursuant to this Agreement and
as calculable by Apex in its reasonable, good-faith discretion, using a consistent methodology. 

 Exhibit A to Support
Services AgreementEX-10.25

 Exhibit 10.25 

*Portions of this exhibit have been excluded because it both (i) is not material and (ii) would be competitively harmful if publicly disclosed.

 EXECUTION 
  

 
  

SUPPORT SERVICES AGREEMENT 
 by
and between 
 PEAK6 INVESTMENTS, L.P. 

and 
 APEX CLEARING HOLDINGS LLC

 Dated as of June 5, 2012 
  

 
  

 SUPPORT SERVICES AGREEMENT 

This SUPPORT SERVICES AGREEMENT (this “Agreement”) is made and entered into as of June 5, 2012, by and between PEAK6
Investments, L.P. (the “Providing Party”), and Apex Clearing Holdings LLC, a Delaware limited liability company (the “Receiving Party”). 

W I T N E S S E T H :

 WHEREAS, the Providing Party is willing to provide or arrange for the provision of certain services to the Receiving Party and its
subsidiaries, all upon the terms and conditions set forth herein. 
 NOW, THEREFORE, in consideration of the premises contained herein, it
is agreed as follows: 
 1. Term. The term of this Agreement shall commence as of the date hereof and shall remain in effect until the
earliest to occur of (a) such time as no services have been provided by the Providing Party to the Receiving Party hereunder for a continuous period of three (3) months, (b) the termination of this Agreement in accordance with
Section 11, and (c) the third (3rd) anniversary of the date hereof; provided, however, that this Agreement shall not terminate pursuant to this clause (c) and shall automatically be renewed for additional one (1) year periods at
the end of each prior period unless the Receiving Party shall have notified the other parties in writing at least ninety (90) days prior to the end of such period that this Agreement shall not be renewed. This Agreement may be terminated by a
party as provided herein or, as provided in Section 11, with respect to a particular service or group of services only, in which case it shall remain in full force and effect with respect to the other services described herein. 

2. Services. During the term hereof, and upon the terms and conditions set forth herein, the Receiving Party may from time to time
request, and upon such a request, to the extent it is reasonable as determined by the Providing Party in good faith, the Providing Party agrees to use commercially reasonable efforts to provide, or cause to be provided through an affiliate, or
otherwise, at the Receiving Party’s expense as provided herein, the following services: 
 (a) Payroll Services.
Certain payroll services, which shall include preparation of payroll checks for the Receiving Party’s employees and maintenance of employee payroll records, and making provision for the associated payroll for payments and similar charges.

 (b) Financial, Risk Management and Operations Services. Assist the Receiving Party in establishing and maintaining
bank accounts, investing short-term funds, credit analysis, risk management, risk/credit review for potential clients, obtaining lines of credit, purchasing capital improvements (including supplies and equipment), and providing technical advice as
requested on commercial contracts and client/business development (it being understood that the Providing Party shall have no obligation to guarantee or provide other credit support for the obligations of the Receiving Party). 

 (c) Accounting and Treasury Services. Accounting and treasury
services, which shall include maintaining financial books and records for the Receiving Party, assisting in the preparation of the Receiving Party’s financial statements and such other accounting and treasury services as may be requested from
time to time. 
 (d) Legal Services. Such legal counsel as may be requested from time to time. All amounts received by
the Providing Party under Section 4 for legal services shall be used solely to reimburse a portion of the compensation and benefits expense for the members of Providing Party’s internal legal departments. The Receiving Party hereby
acknowledges and agrees that the legal services provided to the Receiving Party will be provided by the same legal counsel as are providing legal services to the Providing Party, as the case may be, and that conflicts of interest with respect to
such representation may arise. By executing this Agreement, the Receiving Party explicitly acknowledges the possibility of, and waives any claims, cause of action or damages resulting from, such conflicts. In the event that a conflict arises between
the Receiving Party and the Providing Party, as reasonably determined by the Providing Party, as the case may be, the legal department of the Providing Party, as the case may be, will cease its representation of the Receiving Party, but may continue
its representation of the Providing Party, as the case may be, and the Receiving Party agrees not to seek to disqualify such legal department from representing the Providing Party, as the case may be, based on such legal department’s prior
representations of the Receiving Party pursuant to this Agreement. 
 (e) Human Resources. Human resources services,
which shall include assistance in hiring and terminating employees and administering employee benefits, as may be requested in relation to the operation of the Receiving Party. 

(f) IT Services and Communication Facilities. Information technology support services and other information technology
services as may be requested from time to time. 
 (g) Promotional Sales and Marketing. Promotional sales and
marketing services to the Receiving Party as agreed by the Providing Party and the Receiving Party from time to time. 
 (h)
Miscellaneous. Such other miscellaneous services to the Receiving Party as the parties may reasonably agree. 
 For purposes of this Section 2,
the Receiving Party shall include each of the subsidiaries of the Receiving Party. Notwithstanding the foregoing, Providing Party need not make available nor provide any services to the extent that doing so would unreasonably interfere with the
performance by any employee of such employee’s duties for Providing Party or otherwise cause unreasonable burden to Providing Party. 

  
 2 

 3. Authority. Notwithstanding anything to the contrary contained in Section 2
hereof, the parties hereto acknowledge and agree that the Providing Party shall provide, or arrange for third parties to provide, the services set forth in Section 2 of this Agreement subject to the ultimate authority of the Receiving Party to
control its own business and affairs. Each party acknowledges that the services provided hereunder by the Providing Party, or arranged by the Providing Party to be provided by third parties, are intended to be administrative, technical and
ministerial and are not intended to set policy for the Receiving Party. 
 4. Charges for Services. In consideration for providing
the services to the Receiving Party as provided for in Section 2 hereof, and except as otherwise expressly set forth therein, the Receiving Party shall pay (a) to the Providing Party, the Fully Allocated Cost of such services and
(b) to the Providing Party, an amount equal to [****] of the Receiving Party’s consolidated gross revenues for the period covered by each invoice delivered by the Providing Party pursuant to Section 9 below (the “Revenue
Fee”). For purposes of this Section 4, “Fully Allocated Cost” shall mean the direct and indirect economic costs incurred by the Providing Party, as the case may be, as a result of the provision of such services allocated
to the provision of such services in a manner that is both (i) reasonable and (ii) consistent with the methodology then employed by the Providing Party and its affiliates in connection with the provision of similar services to related
parties. Fully Allocated Cost shall include, but not be limited to, labor costs (including, without limitation, salary and benefits), information technology and telecommunications infrastructure costs, real estate costs, regulatory costs,
administrative overhead and Taxes (but only to the extent invoiced in a manner consistent with the second to last sentence of this paragraph). The Providing Party shall not charge the · Receiving Party any portion of any Tax for which the
Providing Party receives a rebate or credit, or for which the Providing Party is entitled to a rebate or credit. Any Taxes required to be charged in respect of services provided by the Providing Party hereunder shall be charged in addition to any
charges otherwise due hereunder, and shall be separately stated and included in the relevant invoice. For the purpose of this Agreement, “Taxes” shall mean only sales, value added or similar taxes and shall expressly exclude any taxes
imposed on income or franchise or other similar taxes in lieu of income taxes. 
 5. Other Benefits and Services. From time to time,
the Providing Party may agree to assist the Receiving Party in the purchase of other benefits or services. In such event, the parties shall agree upon a mutually satisfactory basis of allocation of costs. 

6. Materials and Equipment. Receiving Party shall, and shall cause its affiliates to, purchase from the Providing Party and its
affiliates, or bear an allocation of costs in respect of, materials and equipment on the same basis and methodology then employed by the Providing Party and its affiliates in connection with the provision of similar materials and equipment to
related parties. 
 7. Exculpation and Indemnity. The Providing Party (including its affiliates and control persons and its
respective officers, directors and employees) shall not be liable to the Receiving Party or its affiliates or subsidiaries and each of its respective members, officers, directors or employees, shareholders, agents or representatives for any acts or
omissions taken 

  
 3 

 
or not taken in connection with this Agreement, except for acts or omissions constituting fraud or willful misconduct by the Providing Party in the performance of its duties under this Agreement
or as a result of an intentional material breach of this Agreement by the Providing Party of the terms of this Agreement. The Receiving Party shall indemnify, defend and hold harmless the Providing Party (and its affiliates and control persons and
its respective officers, agents, representatives, directors and employees) from and against any and all claims, causes of action or liabilities of any nature whatsoever (including reasonable attorneys’ fees) arising out of or in connection with
any claim against the Providing Party (or its affiliates and control persons and its respective officers, agents, representatives, directors and employees), as the case may be, under or otherwise in connection with this Agreement, except where such
claim is attributable to the fraud or willful misconduct of the Providing Party in the performance of its duties under this Agreement or an intentional material breach by the Providing Party of the terms of this Agreement. In no event shall the
Receiving Party be required to indemnify the Providing Party for any consequential, indirect, incidental or special damages of any nature for the matters contemplated by this Agreement. In no event shall the Providing Party be liable for any damages
to the Receiving Party or any other party hereunder in excess of the amount paid to it hereunder. 
 8. Documentation. The Providing
Party’s charges to the Receiving Party for all services and benefits provided to the Receiving Party hereunder shall be substantiated by appropriate schedules, invoices, and other appropriate documentation, including, without limitation, the
method of allocation and proof of payment of Taxes to the relevant taxing authority. 
 9. Invoicing and Billing. The Receiving Party
shall, within thirty (30) days after the end of each calendar month, provide a statement of the Receiving Party’s gross revenues for the preceding calendar month (“Revenue Statement”) for purposes of calculating the amount
owed by the Receiving Party to the Providing Party pursuant to Section 4(b) hereof. If the Receiving Party does not provide a Revenue Statement within the time period set forth in the preceding sentence, the Providing Party shall be entitled to
calculate the amount owed by the Receiving Party to the Providing Party pursuant to Section 4(b) hereof based on its good faith estimate of the revenues of the Receiving Party for such period. The Providing Party shall invoice the Receiving
Party on a monthly basis in arrears for charges for services provided to the Receiving Party pursuant hereto in accordance with Section 4(a) as incurred and for the amount payable to the Providing Party in accordance with Section 4(b),
such invoices to be delivered to the Receiving Party within the later of (a) fifteen (15) days after the delivery to the Providing Party by the Receiving Party of a Revenue Statement and (b) thirty (30) days after the end of the applicable
calendar month. The Receiving Party shall pay to the Providing Party the amount set forth in each invoice provided under this Agreement within thirty (30) days of the Receiving Party’s receipt of the applicable invoice. To the extent
commercially reasonable, the Providing Party shall invoice such charges in a manner that will minimize any Taxes imposed on the Receiving Party. 

  
 4 

 10. Services by Third Parties. The Providing Party may, at the Receiving Party’s
expense in accordance with Section 4, procure any of the services or benefits specified in Section 2 hereof from a third party. 

11. Termination of Services. Either of the Receiving Party or the Providing Party may discontinue the Providing Party’s provision
of all of the services, or any of the individual services, described in Section 2 of this Agreement by providing written notice to the other parties setting forth the services to be discontinued at least six (6) months before the requested
termination date and the Providing Party shall discontinue providing such services on such requested termination date. In addition, the Providing Party, on the one hand, and the Receiving Party, on the other hand, shall have the right to terminate
this Agreement with immediate effect if the Receiving Party, on the one hand, or the Providing Party, on the other hand, materially breaches any provision hereof and fails to cure the same within fifteen (15) days of written notice thereof.
Notwithstanding the foregoing, in no event may the Revenue Fee be terminated reduced or eliminated. 
 12. Excused Performance. The
Providing Party does not warrant that any of the services or benefits herein agreed to be provided shall be free of interruption caused by any cause or circumstance beyond its reasonable control; including without limitation any strikes, lockouts,
accidents, or inability to obtain third-party cooperation. No such interruption of services or benefits shall be deemed to constitute a breach of any kind whatsoever and the Providing Party shall have no liability to the Receiving Party for any such
interruption of services or benefits. 
 13. Post-Termination Payments. Notwithstanding any provision herein to the contrary, all
payment obligations hereunder shall survive the happening of any event causing termination of this Agreement until all amounts due hereunder in respect of the period prior to the effective date of termination have been paid. 

14. Miscellaneous. 

(a) This Agreement and all the covenants herein contained shall be binding upon the parties hereto, their respective
successors, legal representatives and assigns. Except as otherwise expressly provided for herein, none of the parties shall have the right to assign all or any portion of their obligations or interests in this Agreement or any monies which may be
due pursuant hereto without the prior written consent of the other parties; provided, however, that the Providing Party shall have the right to assign this Agreement, in whole or in part, to any of its affiliates, or cause such entities to perform
hereunder. 
 (b) No waiver by any party hereto of any of its rights under this Agreement shall be effective unless in
writing and signed by an officer of the party waiving such right. No waiver of any breach of this Agreement shall constitute a waiver of any subsequent breach, whether or not of the same nature. No failure or delay in exercising any right, power or
privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any right, power or privilege hereunder. This Agreement may not be modified or
amended except by a writing signed by officers of each of the parties hereto. 

  
 5 

 (c) Other than as expressly provided in Section 7 of this Agreement,
nothing express or implied in this Agreement is intended to confer, nor shall anything herein confer, upon any person other than the parties and their respective successors and permitted assigns, any rights, remedies, obligations or liabilities
whatsoever. 
 (d) This Agreement constitutes the entire agreement of the parties with respect to the services and benefits
described herein, and cancels and supersedes any and all prior written or oral contracts or negotiations between the parties with respect to the subject matter hereof. 

(e) This Agreement shall be strictly construed as independent from any other agreement or relationship by the Providing Party
or any of its respective affiliates, on the one hand, and the Receiving Party or any of its subsidiaries or affiliates, on the other hand. 

(f) This Agreement is made pursuant to and shall be governed and construed in accordance with the laws of the State of
Illinois, without regard to the principles of conflict of laws thereof. Each party submits to the exclusive jurisdiction of the state and federal courts located in Chicago, Illinois in connection with any disputes arising hereunder. 

(g) The parties hereby waive and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or
proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that
the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court. 

(h) EACH OF THE PROVIDING PARTY AND THE RECEIVING PARTY (ON ITS OWN BEHALF AND, TO THE EXTENT PERMITTED BY LAW, ON BEHALF OF
ITS RESPECTIVE EQUITY HOLDERS AND CREDITORS) HEREBY WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY IN RESPECT OF ANY CLAIM BASED UPON, ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT. 

(i) The descriptive headings of the several sections hereof are inserted for convenience only and shall not control or affect
the meaning or construction of any of the provisions hereof. 
 (j) Sections 4, 7, 9, 11, 12, 13 and 14 shall survive
the termination, amendment, modification or waiver of this Agreement indefinitely. 

  
 6 

 (k) Any notice, request or other communication required or permitted in this
Agreement shall be in writing and shall be sufficiently given if personally delivered or if sent by registered or certified mail, postage prepaid, addressed as follows: 
  

	 	(i)	 If to the Providing Party: 

PEAK6 Investments, L.P. 
 141 W.
Jackson Blvd., Suite 500 
 Chicago, IL 60604 

Attn: CEO and Chief Legal Officer 
  

	 	(ii)	 If to the Receiving Party: 

Apex Clearing Holdings LLC 
 141
W. Jackson Blvd., Suite 500 
 Chicago, IL 60604 

Attn: CEO and Chief Legal Officer 

The address of any party hereto may be changed on notice to the other parties hereto duly served in accordance with the foregoing provisions.

 (l) If any part of any provision of this Agreement shall be invalid or unenforceable under applicable law, said part shall
be ineffective to the extent of such invalidity only, without in any way affecting the remaining parts of said provision or the remaining provisions of this Agreement. 

(m) This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original, but all of
which taken together shall constitute one and the same agreement. Delivery of a telecopied version of one or more signatures on this Agreement shall be deemed adequate delivery for purposes of this Agreement. Delivery of a facsimile or other
electronic version of one or more signatures to this Agreement shall be deemed adequate delivery for purposes of this Agreement. 

[Signature Pages Follow] 

  
 7 

 IN WITNESS WHEREOF, the parties hereto have executed or caused this Support Services Agreement to be
executed in their respective names by their respective officers thereunto duly authorized, as of the date first written above. 
  

			
	 PEAK6 INVESTMENTS, L.P.

		
	By:	 	/s/ Jay Coppoletta
		 	 Name: Jay Coppoletta

		 	 Title: Chief Legal Officer

	
	 APEX CLEARING HOLDINGS LLC

		
	By:	 	/s/ Danny Rosenthal
		 	 Name: Danny Rosenthal

		 	 Title: Chief Executive Officer and President

 [Signature page to Apex Clearing Holdings LLC Support Services Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00326-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00326-of-00352.parquet"}]]