Document:

Exhibit 10.5

 

COMPANY SUPPORT AGREEMENT

 

This COMPANY SUPPORT
AGREEMENT, dated as of December 14, 2020 (this “Agreement”), by and among Thunder Bridge Acquisition II, Ltd.,
a Cayman Islands exempted company (“Thunder Bridge II”), Thunder Bridge II Surviving Pubco, Inc., a Delaware corporation
(“ParentCo”), Ay Dee Kay LLC, d/b/a indie Semiconductor, a California limited liability company (the “Company”),
and each of the members of the Company whose names appear on the signature pages of this Agreement (each, a “Company Member”
and, collectively, the “Company Members”).

 

WHEREAS, Thunder Bridge
II, the Company, Thunder Bridge II, ParentCo, TBII Merger Sub Inc., a Delaware corporation and wholly-owned subsidiary of ParentCo
(“TBII Merger Sub”), ADK Merger Sub, a Delaware limited liability company and wholly-owned subsidiary of ParentCo
(“ADK Merger Sub”) and certain other persons propose to enter into, simultaneously herewith, a master transactions
agreement (the “MTA”; terms used but not defined in this Agreement shall have the meanings ascribed to them
in the MTA), a copy of which has been made available to each Company Member, which provides, among other things, that, upon the
terms and subject to the conditions thereof, TBII Merger Sub will be merged with and into Thunder Bridge II (the “TBII
Merger”), with Thunder Bridge II surviving the TBII Merger as a wholly owned subsidiary of ParentCo, and ADK Merger Sub
will be merged with and into the Company (the “ADK Merger”), with the Company surviving the ADK Merger, as ultimately,
an indirect wholly-owned subsidiary of ParentCo;

 

WHEREAS, as of the
date hereof, each Company Member owns of record the number of class of units of the Company representing the Membership Interests
in the Company as set forth opposite such Company Member’s name on Exhibit A hereto (all such units and any units
of the Company of which ownership of record or the power to vote is hereafter acquired by the Company Members prior to the termination
of this Agreement being referred to herein as the “Units”); and

 

WHEREAS, in order to
induce, Thunder Bridge II, ParentCo, TBII Merger Sub Corp, ADK Merger Sub and the Company to enter into the MTA, the Company Members
are executing and delivering this Agreement to Thunder Bridge II and ParentCo.

 

NOW, THEREFORE, in
consideration of the foregoing and of the mutual covenants and agreements contained herein, and intending to be legally bound hereby,
each of the Company Members (severally and not jointly), Thunder Bridge II and the Company hereby agrees as follows:

 

1. Agreement
to Vote. Each Company Member, by this Agreement, with respect to its Units, severally and not jointly, hereby agrees (and
agrees to execute such documents and certificates evidencing such agreement as Thunder Bridge II may reasonably request in
connection therewith), if (and only if) the Approval Condition (as defined below) shall have been satisfied, to vote, at any
meeting of the members of the Company, and in any action by written consent of the members of the Company, all of such
Company Member’s Units (a) in favor of the approval and adoption of the MTA, the transactions contemplated by the MTA
and this Agreement, (b) in favor of any other matter reasonably necessary to the consummation of the transactions
contemplated by the MTA and considered and voted upon by the members of the Company, (c) in favor of the approval and
adoption of the Equity Incentive Plan (as defined in the MTA) and (d) against any action, agreement or transaction (other
than the MTA or the transactions contemplated thereby) or proposal that would result in a breach of any covenant,
representation or warranty or any other obligation or agreement of the Company under the MTA or that would reasonably be
expected to result in the failure of the transactions contemplated by the MTA from being consummated. Each Company Member
acknowledges receipt and review of a copy of the MTA. For purposes of this Agreement, “Approval Condition”
shall mean that the MTA shall not have been amended or modified to change the Merger Consideration payable under the MTA to
the Company Members. For the purpose of clarification, any adjustment to the Merger Consideration pursuant to Section
2.4 of the MTA shall not constitute an amendment or modification to the Merger Consideration for purposes of the
immediately preceding sentence.

 

     

     

    

 

2. Transfer
of Units. Except as may be required by or permitted in the MTA, each Company Member, severally and not jointly, agrees that
it shall not, directly or indirectly, (a) sell, assign, transfer (including by operation of law), lien, pledge, dispose of or otherwise
encumber any of the Units or otherwise agree to do any of the foregoing (unless the transferee agrees to be bound by this Agreement),
(b) deposit any Units into a voting trust or enter into a voting agreement or arrangement or grant any proxy or power of attorney
with respect thereto that is inconsistent with this Agreement, (c) enter into any contract, option or other arrangement or undertaking
with respect to the direct or indirect acquisition or sale, assignment, transfer (including by operation of law) or other disposition
of any Units (unless the transferee agrees to be bound by this Agreement), or (d) take any action that would have the effect of
preventing or disabling the Company Member from performing its obligations hereunder.

 

3. Representations
and Warranties. Each Company Member severally and not jointly, represents and warrants for and on behalf of itself to Thunder
Bridge II as follows:

 

(a) The
execution, delivery and performance by such Company Member of this Agreement and the consummation by such Company Member of the
transactions contemplated hereby do not and will not (i) conflict with or violate any Law or other Order applicable to such Company
Member, (ii) require any consent, approval or authorization of, declaration, filing or registration with, or notice to, any person
or entity, (iii) result in the creation of any Lien on any Units (other than pursuant to this Agreement, the MTA or transfer restrictions
under applicable securities laws or the Organizational Documents of the Company or such Company Member) or (iv) conflict with or
result in a breach of or constitute a default under any provision of such Company Member’s Organizational Documents.

 

(b) Such
Company Member owns of record and has good, valid and marketable title to the Units set forth opposite the Company Member’s
name on Exhibit A free and clear of any Lien (other than pursuant to this Agreement or transfer restrictions under applicable
securities Laws or the Organizational Documents of such Company Member) and has the sole power (as currently in effect) to vote
and full right, power and authority to sell, transfer and deliver such Units, and such Company Member does not own, directly or
indirectly, any other Units.

 

(c) Such
Company Member has the power, authority and capacity to execute, deliver and perform this Agreement and that this Agreement has
been duly authorized, executed and delivered by such Company Member.

 

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4. Termination.
This Agreement and the obligations of the Company Members under this Agreement shall automatically terminate upon the earliest
of (a) the Effective Time; (b) the termination of the MTA in accordance with its terms; and (c) the mutual agreement of Thunder
Bridge II and the Company. Upon termination or expiration of this Agreement, no party shall have any further obligations or liabilities
under this Agreement; provided, however, such termination or expiration shall not relieve any party from liability
for any willful breach of this Agreement occurring prior to such termination of this Agreement.

 

5. Miscellaneous.

 

(a) Except
as otherwise provided herein or in any Transaction Document, all costs and expenses incurred in connection with this Agreement
and the transactions contemplated hereby shall be paid by the party incurring such costs and expenses, whether or not the transactions
contemplated hereby are consummated.

 

(b) All
notices, requests, claims, demands and other communications hereunder shall be in writing and shall be given (and shall be deemed
to have been duly given upon receipt) by delivery in person, by telecopy or e-mail or by registered or certified mail (postage
prepaid, return receipt requested) to the respective parties at the following addresses (or at such other address for a party as
shall be specified in a notice given in accordance with this Section 5(b)):

 

If to ParentCo or Thunder Bridge II, to it at:

 

9912 Georgetown Pike, Suite D203

Great Falls, Virginia 22066

Attention: Gary Simanson, CEO

Telephone: (202) 431-0507

Email: gsimanson@thunderbridge.us

 

with a copy to:

 

Nelson Mullins Riley & Scarborough LLP

101 Constitution Ave NW, Suite 900

Washington, DC 20001

Attention: Jonathan Talcott; E. Peter Strand

Telephone: (202) 689-2906

Email: Jon.talcott@nelsonmullins.com

Peter.strand@nelsonmullins.com

 

and

 

Ellenoff Grossman & Schole LLP

1345 Avenue of the Americas, 11th Floor

New York, New York 10105

Attention: Douglas Ellenoff, Esq.

Matthew A. Gray, Esq.

Telephone: (212) 370-1300

Email: ellenoff@egsllp.com; mgray@egsllp.com

 

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If to the Company, to:

 

indie Semiconductor

32 Journey

Aliso Viejo, California 92656

Attention: Tom Schiller, CFO

Telephone: 949-608-0854

Email: Tom@indiesemi.com

 

with a copy to:

 

Loeb & Loeb

345 Park Avenue

New York, New York 10154

Attention: Mitchell Nussbaum; Giovanni Caruso

Telephone: (212)407-4159

Email: mnussbaum@loeb.com; gcaruso@loeb.com

 

If to a Company Member, to the address set forth for
such Company Member on the signature page hereof.

 

(c) If
any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law, or public
policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the
economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party.
Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, 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 a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to
the fullest extent possible.

 

(d) This
Agreement, the MTA and the Transaction Documents constitute the entire agreement among the parties with respect to the subject
matter hereof and supersede all prior agreements and undertakings, both written and oral, among the parties, or any of them, with
respect to the subject matter hereof. This Agreement shall not be assigned (whether pursuant to a merger, by operation of law or
otherwise).

 

(e) This
Agreement shall be binding upon and inure solely to the benefit of each party hereto, and nothing in this Agreement, express or
implied, is intended to or shall confer upon any other person any right, benefit or remedy of any nature whatsoever under or by
reason of this Agreement. No Company Member shall be liable for the breach by any other Company Member of this Agreement.

 

(f) The parties
hereto agree that irreparable damage may occur in the event any provision of this Agreement was not performed in accordance
with the terms hereof and that the parties shall be entitled to seek specific performance of the terms hereof, in addition to
any other remedy at law or in equity. Each of the parties agrees that it shall not oppose the granting of an injunction,
specific performance and other equitable relief when expressly available pursuant to the terms of this Agreement on the basis
that the other parties have an adequate remedy at law or an award of specific performance is not an appropriate remedy for
any reason at law or equity. Any party seeking an injunction or injunctions to prevent breaches or threatened breaches of, or
to enforce compliance with this Agreement when expressly available pursuant to the terms of this Agreement shall not be
required to provide any bond or other security in connection with any such Order.

 

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(g) This
Agreement shall be governed by, and construed in accordance with, the Laws of the State of New York applicable to contracts executed
in and to be performed in that State without giving effect to principles or rules of conflict of laws to the extent such principles
or rules would require or permit the application of Laws of another jurisdiction. All actions, suits or proceedings (collectively,
“Action”). All Actions arising out of or relating to this Agreement shall be heard and determined exclusively
in any federal or state court having jurisdiction within the State of New York. The parties hereto hereby (i) submit to the exclusive
jurisdiction of federal or state courts within the State of New York for the purpose of any Action arising out of or relating to
this Agreement brought by any party hereto, and (ii) irrevocably waive, and agree not to assert by way of motion, defense, or otherwise,
in any such Action, 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 Action is brought in an inconvenient forum, that the venue of the Action
is improper, or that this Agreement or the transactions contemplated hereunder may not be enforced in or by any of the above-named
courts.

 

(h) This
Agreement may be executed and delivered (including by facsimile or portable document format (pdf) transmission) in one or more
counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an
original but all of which taken together shall constitute one and the same agreement.

 

(i) Without
further consideration, each party shall use commercially reasonable efforts to execute and deliver or cause to be executed and
delivered such additional documents and instruments and take all such further action as may be reasonably necessary or desirable
to consummate the transactions contemplated by this Agreement.

 

(j) This
Agreement shall not be effective or binding upon any Company Member until such time as the MTA is executed by each of the parties
thereto.

 

(k) If,
and as often as, there are any changes in the Company or the Company Member’s Units by way of equity split, dividend, combination
or reclassification, or through merger, consolidation, reorganization, recapitalization or business combination, or by any other
means, equitable adjustment shall be made to the provisions of this Agreement as may be required so that the rights, privileges,
duties and obligations hereunder shall continue with respect to the Company Member and its Units as so changed.

 

(l) Each of the
parties hereto hereby waives to the fullest extent permitted by applicable law any right it may have to a trial by jury with
respect to any litigation directly or indirectly arising out of, under or in connection with this Agreement. Each of the
parties hereto (i) certifies that 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 that foregoing waiver and (ii)
acknowledges that it and the other parties hereto have been induced to enter into this Agreement and the transactions
contemplated hereby, as applicable, by, among other things, the mutual waivers and certifications in this Paragraph (l).

 

[Signature
pages follow]

 

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

 

	 	THUNDER BRIDGE ACQUISITION II, LTD.

 

	 	By:	/s/
    Gary A. Simanson
	 	Name:	Gary A. Simanson
	 	Title:	Chief Executive Officer

 

	 	THUNDER BRIDGE II SURVIVING PUBCO, INC.

 

	 	By:	/s/ Gary A.
    Simanson
	 	Name:	Gary A. Simanson
	 	Title:	President

 

	 	AY
    DEE KAY, LLC d/b/a INDIE SEMICONDUCTOR

 

	 	By:	/s/ Donald
    McClymont
	 	Name:	Donald McClymont
	 	Title:	Chief Executive Officer

 

[Signature
Page to Company Support Agreement] 

 

     

     

    

 

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

 

	 	COMPANY MEMBERS

 

	 	By:	/s/ Donald McClymont
	 		Donald McClymont

 

[Signature Page to Company Support
Agreement] 

 

     

     

    

 

	 	By:	/s/ Ichiro Aoki
	 	 	Ichiro Aoki

 

[Signature Page to Company Support
Agreement] 

 

     

     

    

 

	 	By:	/s/ Scott Kee
	 		Scott Kee

 

[Signature Page to Company Support
Agreement] 

 

     

     

    

 

	 	Anthem ADK Holdings, Inc.

 

	 	By:	/s/ William Woodward
	 		Name: William Woodward
	 	 	Title: Chief Executive Officer

 

[Signature Page to Company Support
Agreement] 

 

     

     

    

 

	 	GoDubs, Inc.

 

	 	By:	/s/ Steve Fu
	 	 	Name: Steve Fu
	 		Title: Chief Executive Officer

 

[Signature
Page to Company Support Agreement]

 

     

     

    

 

EXHIBIT
A

 

THE COMPANY
MEMBERS

 

	Company Member	 	Units of 
 Ay Dee Kay LLC, d/b/a indie
 Semiconductor	 
	Donald McClymont	 	227,875	 
	Ichiro Aoki	 	227,875	 
	Scott Kee	 	227,875	 
	Anthem ADK Holdings, Inc.	 	343,011	 
	GoDubs, Inc.	 	328,073	 

 

 

A-1Exhibit 10.6

 

Thunder Bridge Acquisition II LLC

9912 Georgetown Pike, Suite D203

Great Falls, Virginia 22066

 

December 14, 2020

 

Thunder Bridge Acquisition II, Ltd.

9912 Georgetown Pike, Suite D203

Great Falls, Virginia 22066

Attention: Chief Executive Officer

 

Re:   Sponsor
Earnout Letter

 

Ladies and Gentlemen:

 

Reference is hereby
made to that certain Master Transactions Agreement, dated as of [•], 2020 (as amended, the “Merger Agreement”)
by and among Thunder Bridge II Surviving Pubco, Inc., a Delaware corporation (“Parent”), the Merger Subs
described therein, Thunder Bridge Acquisition II Ltd., a Cayman Islands exempted company (including any successor entity thereto,
including upon the Domestication (as defined in the Merger Agreement), “Thunder Bridge II”), Ay Dee Kay
LLC, d/b/a indie Semiconductor, a California limited liability company (including the successor entity in its merger with ADK Merger
Sub pursuant to the Merger Agreement, the “Company”), the ADK Blockers named therein, ADK Service Provider
HoldCo, LLC, and the Company Securityholder Representative. Any capitalized term used but not defined herein will have the meanings
ascribed thereto in the Merger Agreement.

 

In connection with
the Merger Agreement, and pursuant to the authority of the undersigned Managing Member of Thunder Bridge Acquisition II LLC, a
Delaware limited liability company (“Sponsor”), under the Organizational Documents of Sponsor to enter
into arrangements with respect to Founder Shares (as defined below) to facilitate the initial business combination of Thunder Bridge
II, Sponsor agrees to enter into this letter agreement (this “Agreement”) with Parent, Thunder Bridge
II and the Company relating to the 8,625,000 Class B ordinary shares of Thunder Bridge II (including the Surviving Pubco Class
A Shares into which such shares are converted pursuant to the Domestication and Mergers in accordance with the Merger Agreement,
“Founder Shares”) initially purchased by Sponsor in a private placement prior to Thunder Bridge II’s
initial public offering, which shares are currently held by Sponsor.

 

For good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, Sponsor, the Company and Parent hereby agree as follows:

 

		1.	Sponsor hereby agrees that prior to the Closing it
shall enter into an Escrow Agreement with Surviving Pubco and Continental Stock Transfer and Trust, as escrow agent (the “Escrow
Agent”), in substantially the form attached as Exhibit A hereto (the “Sponsor Escrow Agreement”),
and upon and subject to the Closing, Sponsor shall deposit 3,450,000 of the Founder Shares (subject to equitable adjustment for
stock splits, stock dividends, reorganizations, combinations, recapitalizations and similar transactions affecting the Surviving
Pubco Class A Shares or Successor Shares (as defined below) after the date of this Agreement) (together with any equity securities
paid as dividends or distributions with respect to such shares or into which such shares are exchanged or converted, and in each
case only to the extent held in the Sponsor Escrow Account, the “Sponsor Escrow Shares”) into a segregated
escrow account (the “Sponsor Escrow Account”) with the Escrow Agent, to be held, along with any other
dividends, distributions or other income on the Sponsor Escrow Shares (“Escrow Earnings”), in the Sponsor
Escrow Account and disbursed in accordance with the terms of this Agreement and the Sponsor Escrow Agreement.

 

     

     

    

 

		2.	Sponsor shall not sell, transfer, or otherwise dispose of, or hypothecate or otherwise grant any
interest in or to, the Sponsor Escrow Shares. Except as otherwise set forth in this Agreement, all of the Sponsor Escrow Shares,
together with any Escrow Earnings, shall be retained in the Sponsor Escrow Account unless and until a Stock Price Trigger (as defined
below) or Triggering Event (as defined below) has occurred. In the event that, as of December 31, 2027 (the “Termination
Date,” and the period from the Closing Date until and including the Termination Date, the “Contingent
Period”), neither the Second Stock Price Trigger nor any Triggering Event has occurred, Sponsor will forfeit the
remaining Sponsor Escrow Shares and any remaining Escrow Earnings in the Sponsor Escrow Account, and the Escrow Agent shall deliver
such Sponsor Escrow Shares and such Escrow Earnings to the Surviving Company (with any Sponsor Escrow Shares to be delivered to
Surviving Pubco in certificated or book entry form for cancellation by Surviving Pubco). Surviving Pubco and Sponsor shall give
joint written instructions to the Escrow Agent to release the applicable Sponsor Escrow Shares promptly (but in any event within
five (5) Business Days) after the occurrence of a Stock Price Trigger or Triggering Event; provided, that Surviving Pubco
shall notify Sponsor in writing at least three (3) Business Days in advance of and provide written instructions to the Escrow Agent
to release one hundred percent (100%) of the Sponsor Escrow Shares upon the occurrence of a Triggering Event described in Sections
6(a), 6(b) or 6(c).

 

		3.	Until and unless the Sponsor Escrow Shares are forfeited, other than as expressly set forth in
this Agreement or the Sponsor Escrow Agreement, Sponsor shall have full ownership rights to the Sponsor Escrow Shares, including,
without limitation, the right to vote the Sponsor Escrow Shares, except that any Escrow Earnings shall be retained in the Sponsor
Escrow Account, to be held in accordance with the terms of this Agreement and the Sponsor Escrow Agreement.

 

		4.	Fifty percent (50%) of the Sponsor Escrow Shares shall vest, no longer be subject to forfeiture
and be released from the Sponsor Escrow Account if the closing price of Surviving Pubco Class A Shares or any equity security that
is the successor to Surviving Pubco Class A Shares (“Successor Shares”) on the principal exchange on
which such securities are then listed or quoted shall have been at or above $12.50 (in each case, subject to equitable adjustment
for stock splits, stock dividends, reorganizations, combinations, recapitalizations and similar transactions affecting the Surviving
Pubco Class A Shares or Successor Shares after the date of this Agreement) for twenty (20) trading days (which need not be consecutive)
over a thirty (30) trading day period at any time during the Contingent Period (the “First Stock Price Trigger”).

 

		5.	One hundred percent (100%) of the remaining Sponsor Escrow Shares shall vest, no longer be subject
to forfeiture and be released from the Sponsor Escrow Account if the closing price of Surviving Pubco Class A Shares or any Successor
Shares on the principal exchange on which such securities are then listed or quoted shall have been at or above $15.00 (in each
case, subject to equitable adjustment for stock splits, stock dividends, reorganizations, combinations, recapitalizations and similar
transactions affecting the Surviving Pubco Class A Shares or Successor Shares after the date of this Agreement) for twenty (20)
trading days (which need not be consecutive) over a thirty (30) trading day period at any time during the Contingent Period (the
“Second Stock Price Trigger” and together with the First Stock Price Trigger, the “Stock
Price Triggers”).

 

		6.	One hundred percent (100%) of the Sponsor Escrow Shares shall vest, no longer be subject to forfeiture
and be released from the Sponsor Escrow Account upon the first of any of the following to occur (a “Triggering Event”):

 

		a.	if Surviving Pubco shall engage in a “going private” transaction pursuant to Rule 13e-3
under the Securities Exchange Act 1934, as amended (the “Exchange Act”) or otherwise cease to be subject to reporting
obligations under Sections 13 or 15(d) of the Exchange Act;

 

		b.	if Surviving Pubco Class A Shares or Successor Shares shall cease to be listed on a national securities
exchange, other than for the failure to satisfy:

 

		i.	any applicable minimum listing requirements, including minimum round lot holder requirements, of
such national securities exchange, unless such failure is caused by an action or omission of Surviving Pubco or its Subsidiaries
taken after the Closing with the primary intent of causing, or which would otherwise reasonably be expected to cause, the Surviving
Pubco to violate such applicable minimum listing requirements; or

 

		ii.	a minimum price per share requirement of such national securities exchange;

 

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		c.	if any of the following shall occur:

 

		i.	there is consummated a merger or consolidation of the Surviving Pubco with any other corporation
or other entity, and, immediately after the consummation of such merger or consolidation, either (x) the Surviving Pubco board
of directors immediately prior to the merger or consolidation does not constitute at least a majority of the board of directors
of the company surviving the merger or, if the surviving company is a Subsidiary, the ultimate parent thereof, or (y) the voting
securities of the Surviving Pubco immediately prior to such merger or consolidation do not continue to represent or are not converted
into more than 50% of the combined voting power of the then outstanding voting securities of the Person resulting from such merger
or consolidation or, if the surviving company is a Subsidiary, the ultimate parent thereof; or

 

		ii.	the shareholders of the Surviving Pubco approve a plan of complete liquidation or dissolution of
the Surviving Pubco or there is consummated an agreement or series of related agreements for the sale, lease or other disposition,
directly or indirectly, by the Surviving Pubco of all or substantially all of the asset of Surviving Pubco and its Subsidiaries,
taken as a whole, other than such sale or other disposition by the Surviving Pubco of all or substantially all of the assets of
the Surviving Pubco and its Subsidiaries, taken as a whole, to an entity at least 50% of the combined voting power of the voting
securities of which are owned by shareholders of the Surviving Pubco in substantially the same proportions as their ownership of
the Surviving Pubco immediately prior to such sale; or

 

		iii.	any Person or any group of Persons acting together which would constitute a “group”
for purposes of Section 13(d) of the Exchange Act or any successor provisions thereto (excluding a corporation or other entity
owned, directly or indirectly, by the stockholders of the Surviving Pubco in substantially the same proportions as their ownership
of stock of the Surviving Pubco) is or becomes the Beneficial Owner, directly or indirectly, of securities of the Surviving Pubco
representing more than 50% of the combined voting power of the Surviving Pubco’s then outstanding voting securities.

 

		7.	Notwithstanding anything to the contrary herein, at or prior to the Closing, Sponsor may transfer
any Founder Shares to any third-party investor who provides equity or debt financing for the transactions contemplated by the Merger
Agreement without the consent of Surviving Pubco (subject to compliance with the provisions of the letter agreement, dated as of
August 8, 2019 by and among Thunder Bridge II, Sponsor and the directors and officers of Thunder Bridge II named therein (the “Insider
Letter”)); provided that (i) any Founder Shares so transferred shall continue to be subject to the terms and
conditions of the Insider Letter and, unless otherwise agreed in writing by the Company and Sponsor, the terms and conditions of
this Agreement and the Sponsor Escrow Agreement, and (ii) the transferee of such shares shall sign a joinder to this Agreement
agreeing to be bound by the obligations applicable to Sponsor and the Founder Shares in this Agreement, in form and substance reasonably
acceptable to the Company.

 

		8.	Within ten (10) days following the Closing, Sponsor shall distribute to its members any securities
of Parent that it owns in accordance with its Organizational Documents, subject to the terms of this Agreement and the Sponsor
Escrow Agreement (the “Liquidation”).

 

		9.	This Agreement constitutes the entire agreement and understanding of the parties hereto in respect
of the subject matter hereof and supersedes all prior understandings, agreements, or representations by or among the parties hereto,
written or oral, to the extent they relate in any way to the subject matter hereof; provided, that for the avoidance of
doubt, nothing herein shall affect the terms and conditions of the Insider Letter. This Agreement may not be changed, amended,
modified or waived as to any particular provision, except by a written instrument executed by both parties hereto.

 

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		10.	Subject to Section 7 above, neither party hereto may assign either this Agreement or any of its
rights, interests, or obligations hereunder without the prior written consent of the other party; provided, that in the
event of the Liquidation, Sponsor may, without obtaining the consent of any other party hereto, transfer Sponsor’s rights
to the Sponsor Escrow Shares and any Escrow Earnings and its rights and obligations under this Agreement and the Sponsor Escrow
Agreement to its members so long as such members agree in writing to be bound by the terms of this Agreement and the Sponsor Escrow
Agreement that apply to Sponsor hereunder and thereunder; provided, further, that upon any such Liquidation, all
of the rights of Sponsor hereunder (other than the rights to receive the Sponsor Escrow Shares and any Escrow Earnings upon their
release from the Sponsor Escrow Account in accordance with this Agreement and the Sponsor Escrow Agreement, which rights shall
be belong to the Sponsor’s members in accordance with such liquidation) shall automatically be assigned to Gary A. Simanson,
solely in his capacity as representative of the Sponsor members in order to ensure continued enforcement of the escrow arrangements
on behalf and for the benefit of the Sponsor members, without any further action by any party hereto or any other Person. Any purported
assignment in violation of this Section 10 shall be void and ineffectual and shall not operate to transfer or assign any interest
or title to the purported assignee. This Agreement shall be binding on the undersigned parties and their respective successors
and permitted assigns.

 

		11.	This Agreement shall be construed, interpreted and enforced in a manner consistent with the provisions
of the Merger Agreement. The provisions set forth in Sections 10.3, 11.4, 11.5, 11.6, 11.7, 11.8, 11.10, 11.11 and 11.12, of the
Merger Agreement, as in effect as of the date hereof, are hereby incorporated by reference into, and shall be deemed to apply to,
this Agreement as if all references to the “Agreement” in such sections were instead references to this Agreement.

 

		12.	Any notice, consent or request to be given in connection with any of the terms or provisions of
this Agreement shall be in writing and shall be sent in the same manner as provided in Section 11.1 of the Merger Agreement. Notices
to Sponsor shall be sent to the following address: Thunder Bridge Acquisition II LLC, 9912 Georgetown Pike, Suite D203, Great Falls,
Virginia 22066, Attention: Gary Simanson, Telephone: (202) 431-0507, Email: gsimanson@thunderbridge.us; with a copy (which shall
not constitute notice) to Nelson Mullins Riley & Scarborough LLP, 101 Constitution Ave NW, Suite 900, Washington, DC 20001,
Attention: Jon Talcott and E. Peter Strand, Telephone: (202) 689-2983, Email: Peter.Strand@nelsonmullins.com (or such other address
as shall be specified in a notice given in accordance with this Section 12 and Section 11.1 of the Merger Agreement).

 

		13.	Each of the parties hereto represents and warrants that (i) it has the power and authority, or
capacity, as the case may be, to enter into this Agreement and to carry out its obligations hereunder, (ii) except in the case
of a natural person, the execution and delivery of this Agreement and the performance of its obligations hereunder have been duly
and validly authorized by all corporate or limited liability company action on its part and (iii) this Agreement has been duly
and validly executed and delivered by each of the parties hereto and constitutes, a legal, valid and binding obligation of each
such party enforceable in accordance with its terms, except as such enforceability may be limited by the Enforcement Exceptions.
The Managing Member of the Sponsor represents and warrants that it has the power and authority pursuant to the Organizational Documents
of the Sponsor to enter into this Agreement, and agrees to take such actions in accordance with such Organizational Documents as
may be necessary or advisable to cause the Sponsor to comply with its obligations hereunder.

 

		14.	This Agreement shall terminate at such time, if any, as the Merger Agreement is terminated in accordance
with its terms prior to the Closing, and upon such termination this Agreement shall be null and void and of no effect whatsoever,
and the parties hereto shall have no obligations under this Agreement.

 

{Remainder of Page
Left Blank; Signature Page Follows}

 

    4

     

    

 

Please indicate your agreement to the foregoing
by signing in the space provided below.

 

	 	THUNDER BRIDGE ACQUISITION II LLC
	 	 	 
	 	By:	/s/ Gary A. Simanson
	 	Name: 	Gary A. Simanson
	 	Title:	Managing Member

 

Accepted and agreed, effective as of the date first set
forth above:

 

THUNDER BRIDGE ACQUISITION II, LTD

 

	By:	/s/ Gary A. Simanson	 
	Name: 	Gary A. Simanson	 
	Title:	Chief Executive Officer	 

 

AY DEE KAY, LLC

 

	By:	/s/ Donald McClymont	 
	Name: 	Donald McClymont	 
	Title:	Chief Executive Officer	 

   

Agreed and acknowledged, effective as of the date first
set forth above:

 

	/s/ Gary A. Simanson	 
	Gary A. Simanson, solely in his capacity as representative of the Sponsor members	 

  

{Signature Page to Sponsor Earnout
Letter}

 

    5

     

    

 

Exhibit A

Form of Sponsor Escrow Agreement

 

See attachment.

 

 

A-1

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