Document:

Exhibit

Exhibit 10.10

THIRD AMENDMENT TO OFFICE LEASE

THIS THIRD AMENDMENT TO OFFICE LEASE (“Third Amendment”) is made and entered into as of this 1st day of May, 2018 (the “Effective Date”), by and between FIRST INTERNET BANCORP, an Indiana corporation (the “Landlord”) and FIRST INTERNET BANK OF INDIANA, an Indiana state chartered bank (the “Tenant”).

WITNESSETH:

WHEREAS, Landlord and Tenant entered into that certain Office Lease dated as of March 6, 2013 (the “Initial Lease”), pursuant to which Tenant leased approximately 15,254 square feet of space on the third floor (the “Initial Premises”) in the building located at 11201 USA Parkway, Fishers, Indiana (the “Building”), as more particularly set forth in the Initial Lease; and

WHEREAS, Landlord and Tenant entered into the First Amendment to Lease as of July 1, 2015 (together with the Initial Lease, the “Lease”), pursuant to which Tenant expanded the Initial Premises by adding an additional 19,364 square feet (together with the Initial Premises, the “Premises”; and 

WHEREAS, Landlord and Tenant entered into the Second Amendment to Lease as of July 1, 2016, pursuant to which Tenant further expanded the Premises by adding an additional 15,332 square feet on the second floor of the Building together with the “Premises”, (the “Completed Premises”).  This Second Amendment together with the Initial Lease and the First Amendment are hereinafter referred to as (the “Modified Lease”); and 

WHEREAS, Landlord and Tenant presently desire to further amend the Modified Lease in the manner provided in this Third Amendment. 

NOW THEREFORE, for and in consideration of the covenants and agreements hereinafter set forth, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Modified Lease shall be and is hereby amended as follows:

		
	1.
	Term

Exhibit 10.10

The Expiration Date of the Initial Lease is hereby extended to May 31, 2021.

		
	2.
	Rent 

The Minimum Rent Schedule as outlined in Schedule 1 of the Lease is revised as follows:

	
			
	Rent Period
	Monthly Rent
	Annual Rent

	June 1, 2018 through May 31, 2021
	$80,095.75
	$961,149.00

		
	3.
	Ratification

Except as revised herein, the Lease is hereby ratified, reaffirmed and unchanged in all other respects.

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

LANDLORD:

FIRST INTERNET BANCORP

By:    _________________________
David Becker
Chief Executive Officer    

TENANT:

FIRST INTERNET BANK OF INDIANA

By:    _________________________

Exhibit 10.10

C. Charles Perfetti
Senior Vice PresidentExhibit

Exhibit 10.11

FOURTH AMENDMENT TO OFFICE LEASE

THIS FOURTH AMENDMENT TO OFFICE LEASE (“Fourth Amendment”) is made and entered into as of this 1st day of February, 2020 (the “Effective Date”), by and between FIRST INTERNET BANKCORP, an Indiana corporation (the “Landlord”) and FIRST INTERNET BANK OF INDIANA, an Indiana state charted bank (the “Tenant”).
WITNESSETH:
WHEREAS, Landlord and Tenant entered into that certain Office Lease dated as of March 6, 2013 (the “Initial Lease”), pursuant to which Tenant leased approximately 15,254 square feet of space on the third floor (the “Initial Premises”) in the building located at 11201 USA Parkway, Fishers, Indiana (the “Building”), as more particularly set forth in the Initial Lease; and
WHEREAS, Landlord and Tenant entered into the First Amendment to Lease as of July 1, 2015 (together with the Initial Lease, the “Lease”), pursuant to which Tenant expanded the Initial Premises by adding an additional 19,364 square feet (together with the Initial Premises, the “Premises”); and
WHEREAS, Landlord and Tenant entered into the Second Amendment to Lease as of July 1, 2016, pursuant to which Tenant further expanded the Premises by adding an additional 15,332 square feet on the second floor of the Building together with the “Premises”, (the “Completed Premises”); and
WHEREAS, Landlord and Tenant entered into the Third Amendment to Lease as of May 1, 2018, in which the Modified Lease’s Expiration Date was extended to May 31, 2021 and the Minimum Rent Schedule was modified, as detailed In the Third Amendment.  This Third Amendment together with the Initial Lease and the First Amendment and Second Amendment are hereinafter referred to as (the “Modified Lease”); and
WHEREAS, Landlord and Tenant presently desire to further amend the Modified Lease in the manner provided in this Fourth Amendment.
NOW THEREFORE, for and in consideration of the covenants and agreements hereinafter set forth, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Modified Lease shall be and is hereby amended as follows:
		
	1.
	Term

The Expiration Date of the Modified Lease is hereby extended to March 31, 2022.

Exhibit 10.11

		
	2.
	Rent

The Minimum Rent Schedule as outlined in Schedule 1 of the Lease is revised as follows:

	
			
	Rent Period
	Monthly Rent
	Annual Rent

	February 1, 2020 through March 31, 2022
	$80,095.75
	$961,149.00

		
	3.
	Ratification

Except as revised herein, the Lease is hereby ratified, reaffirmed and unchanged in all other respects.

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

LANDLORD:
FIRST INTERNET BANCORP

By:_________________________
       David Becker
       Chief Executive Officer

TENANT:

FIRST INTERNET BANK OF INDIANA

By:_____________________________
      C. Charles Perfetti
      Senior Vice President

Exhibit 10.11Exhibit 4.9

 

DESCRIPTION
OF THE REGISTRANT’S SECURITIES

REGISTERED UNDER
SECTION 12 OF THE EXCHANGE ACT

 

The following
description sets forth certain material terms and provisions of the securities of Vertv Holdings Co that are registered under Section
12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The following description of our
securities is not complete and may not contain all the information you should consider before investing in our securities. This
description is summarized from, and qualified in its entirety by reference to, our Second Amended and Restated Certificate of Incorporation
(our “Certificate of Incorporation”) and Amended and Restated Bylaws (our “Bylaws”), which
are incorporated herein by reference. The summary below is also qualified by reference to the provisions of the General Corporation
Law of the State of Delaware (the “DGCL”). Unless the context otherwise indicates or requires, references to
(1) “the Company,” “we,” “us” and “our” refer to Vertiv
Holdings Co, a Delaware corporation, and its consolidated subsidiaries following the Business Combination (as defined below) and
(2) “GSAH” refer to GS Acquisition Holdings Corp prior to the Business Combination.

 

Vertiv Holdings Co, formerly known as GS
Acquisition Holdings Corp, was originally incorporated in Delaware on April 25, 2016 as a special purpose acquisition company formed
for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar
business combination with one or more businesses. On June 12, 2018, GSAH consummated its initial public offering (the “IPO”)
of 69,000,000 units (the “units”), each
unit representing one share of Class A common stock and one-third of one redeemable warrant to acquire one share
of Class A common stock (the “public warrants”), following which its securities began trading on
the New York Stock Exchange (the “NYSE”). Concurrently with the IPO, GS DC Sponsor I LLC, a Delaware limited
liability company (the “Sponsor”), purchased 10,533,333 warrants in a private placement (the “private
placement warrants” and, together with the public warrants, the “warrants”).

 

On
February 7, 2020 (the “Closing Date”), the Company consummated its previously announced business combination
pursuant to that certain Agreement and Plan of Merger, dated as of December 10, 2019 (the “Merger Agreement”),
by and among GSAH, Vertiv Holdings, LLC, a Delaware limited liability company (“Vertiv Holdings”), VPE Holdings,
LLC, a Delaware limited liability company (the “Vertiv Stockholder”), Crew Merger Sub I LLC, a Delaware limited
liability company and a direct, wholly-owned subsidiary of GSAH (“First Merger Sub”), and Crew Merger Sub II
LLC, a Delaware limited liability company and a direct, wholly-owned subsidiary of GSAH (“Second Merger Sub”).
As contemplated by the Merger Agreement, (1) First Merger Sub merged with and into Vertiv Holdings, with Vertiv Holdings continuing
as the surviving entity (the “First Merger”) and (2) immediately following the First Merger and as
part of the same overall transaction as the First Merger, Vertiv Holdings merged with and into Second Merger Sub, with Second
Merger Sub continuing as the surviving entity and renamed “Vertiv Holdings, LLC” (the “Second Merger”
and, collectively with the First Merger and the other transactions contemplated by the Merger Agreement, the “Business
Combination”). Immediately prior to the completion of the Business Combination, Sponsor dissolved and distributed its
private placement warrants to its members (collectively, the “Sponsor Members”).

 

In connection with
the Business Combination, GSAH changed its name to “Vertiv Holdings Co” and changed the trading symbols for its units,
Class A common stock and warrants on the NYSE from “GSAH.U,” “GSAH” and “GSAH WS,” and to “VERT.U,”
 “VRT” and “VRT WS,” respectively. As a result of the Business Combination, the Company became the owner,
directly or indirectly, of all of the assets of Vertiv Holdings and its subsidiaries, and the Vertiv Stockholder holds a portion
of the Company’s Class A common stock. 

 

     

     

    

 

Authorized and Outstanding Stock

 

Prior to the Business Combination, our
Certificate of Incorporation authorized the issuance of 725,000,000 shares of capital stock, consisting of (1) 720,000,000
shares of common stock, including (a) 700,000,000 shares of Class A common stock, $0.0001 par value per share, and (b)
20,000,000 shares of our Class B common stock, $0.0001 par value per share, and (2) 5,000,000 shares of preferred stock, par
value $0.0001 per share. Immediately prior to the completion of the Business Combination, each outstanding share of Class B
common stock automatically converted into one share of Class A common stock and the number of authorized shares of Class B
common stock was automatically reduced to zero. Following completion of the Business Combination, our Certificate of
Incorporation authorizes the issuance of 725,000,000 shares of capital stock, consisting of (1) 720,000,000 shares of common
stock, including (a) 700,000,000 shares of Class A common stock, $0.0001 par value per share, and (b) 20,000,000 shares of
undesignated common stock, $0.0001 par value per share, and (2) 5,000,000 shares of preferred stock, par value $0.0001 per
share.

 

Voting Power

 

Except as otherwise required by law or as
otherwise provided in any certificate of designation for any series of preferred stock, under our Certificate of Incorporation,
the holders of our common stock possess or will possess all voting power for the election of our directors and all other matters
requiring stockholder action and will be entitled to one vote per share on matters to be voted on by stockholders. The holders
of our common stock will at all times vote together as one class on all matters submitted to a vote of the holders of our common
stock.

 

Dividends

 

Subject to the rights, if any of the holders
of any outstanding shares of preferred stock, holders of our common stock will be entitled to receive such dividends and other
distributions, if any, as may be declared from time to time by our board of directors (our “Board”) in its discretion
out of funds legally available therefor and shall share equally on a per share basis in such dividends and distributions.

 

Liquidation, Dissolution and Winding
Up

 

In the event of our voluntary or involuntary
liquidation, dissolution or winding-up, the holders of our common stock will be entitled to receive all of our remaining assets
available for distribution to stockholders, ratably in proportion to the number of shares of our common stock held by them, after
the rights of the holders of the preferred stock have been satisfied.

 

Preemptive or Other Rights

 

Our stockholders will have no preemptive
or other subscription rights and there are no sinking fund or redemption provisions applicable to our common stock.

 

Election of Directors

 

There is no cumulative voting with respect
to the election of directors, with the result that directors will be elected by a plurality of the votes cast at a meeting of stockholders
by holders of our Class A common stock.

 

Preferred Stock

 

Our Certificate of Incorporation provides
that shares of preferred stock may be issued from time to time in one or more series. Our Board is authorized to fix the voting
rights, if any, designations, powers, preferences and relative, participating, optional, special and other rights, if any, and
any qualifications, limitations and restrictions thereof, applicable to the shares of each series. Our Board may, without stockholder
approval, issue preferred stock with voting and other rights that could adversely affect the voting power and other rights of the
holders of the common stock and could have anti-takeover effects. The ability of our Board to issue preferred stock without stockholder
approval could have the effect of delaying, deferring or preventing a change of control of us or the removal of existing management.
We have no preferred stock outstanding at the date hereof. Although we do not currently intend to issue any shares of preferred
stock, we cannot assure you that we will not do so in the future.

 

     

     

    

 

Units

 

The units began trading on the NYSE
under the symbol “GSAH.U” on June 8, 2018. On July 27, 2018, we announced that holders of our units may elect to
separately trade the Class A common stock and warrants underlying the units. Each unit consists of one share of Class A
common stock and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of
our Class A common stock at a price of $11.50 per share, subject to adjustment as described in this prospectus. Only whole
warrants will be issued on separation of units, and only whole warrants may be traded and be exercised for Class A common
stock. Unless otherwise stated in this prospectus or as the context otherwise requires, all references in this prospectus to
Class A common stock or warrants include such securities underlying the units.

 

Warrants

 

Public Warrants

 

Each whole warrant entitles the registered
holder to purchase one share of our Class A common stock at a price of $11.50 per share, subject to adjustment as discussed below,
at any time commencing on March 8, 2020. Pursuant to the warrant agreement, a warrant holder may exercise its warrants only for
a whole number of shares of Class A common stock. The warrants will expire on February 7, 2025, at 5:00 p.m., New York City time,
or earlier upon redemption or liquidation.

 

We are not obligated to deliver any shares
of Class A common stock pursuant to the exercise of a warrant and will have no obligation to settle such warrant exercise unless
a registration statement under the Securities Act of 1933, as amended (the “Securities Act”) covering the issuance
of the shares of Class A common issuable upon exercise of the warrants is then effective and a current prospectus relating to those
shares of Class A common stock is available, subject to our satisfying our obligations described below with respect to registration.
No warrant will be exercisable for cash or on a cashless basis, and we will not be obligated to issue any shares to holders seeking
to exercise their warrants, unless the issuance of the shares upon such exercise is registered or qualified under the securities
laws of the state of the exercising holder, or an exemption from registration is available. In the event that the conditions in
the two immediately preceding sentences are not satisfied with respect to a warrant, the holder of such warrant will not be entitled
to exercise such warrant and such warrant may have no value and expire worthless. In the event that a registration statement is
not effective for the exercised warrants, the purchaser of a unit containing such warrant will have paid the full purchase price
for the unit solely for the share of Class A common stock underlying such unit.

 

We filed a registration statement on Form
S-1 on February 7, 2020, which was declared effective on February 14, 2020 (as amended and supplemented from time to time, the
 “Registration Statement”), registering under the Securities Act all of the shares of Class A common stock issuable
upon exercise of the warrants and certain other securities. We will use our best efforts to maintain the effectiveness of such
Registration Statement, and a current prospectus relating thereto, until the warrants expire or are redeemed. Notwithstanding the
above, if our Class A common stock is at the time of any exercise of a warrant not listed on a national securities exchange such
that it satisfies the definition of a “covered security” under Section 18(b)(1) of the Securities Act, we may, at our
option, require holders of public warrants who exercise their warrants to do so on a “cashless basis” in accordance
with Section 3(a)(9) of the Securities Act and, in the event we so elect, we will not be required to file or maintain in effect
a registration statement, but will use our best efforts to qualify the shares under applicable blue sky laws to the extent an exemption
is not available.

 

Redemption of Warrants for Cash.
Once the warrants become exercisable, we may call the warrants for redemption:

 

		·	in whole and not in part;
	 	 	 

		·	at a price of $0.01 per warrant;
	 	 	 

		·	upon a minimum of 30 days’ prior written notice of redemption, or the 30-day redemption period, to each warrant holder;
and
	 	 	 

		·	if, and only if, the last reported sale price of our Class A common stock equals or exceeds $18.00 per share (as adjusted for
stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day
period ending on the third trading day prior to the date on which we send the notice of redemption to the warrant holders.

 

     

     

    

 

 

If and when the warrants become redeemable
by us, we may exercise our redemption right even if we are unable to register or qualify the underlying securities for sale under
all applicable state securities laws.

 

We have established the last of the redemption
criterion discussed above to prevent a redemption call unless there is at the time of the call a significant premium to the warrant
exercise price. If the foregoing conditions are satisfied and we issue a notice of redemption of the warrants, each warrant holder
will be entitled to exercise his, her or its warrant prior to the scheduled redemption date. However, the price of the Class A
common stock may fall below the $18.00 redemption trigger price as well as the $11.50 warrant exercise price after the redemption
notice is issued.

 

Redemption of Warrants for Shares
of Class A Common Stock. Commencing after June 6, 2020, we may redeem the outstanding warrants (except as described
herein with respect to the private placement warrants):

 

		·	in whole and not in part;

 

		·	at a price equal to a number of shares of Class A common stock to be determined by reference to the table below, based on the
redemption date and the “fair market value” of our Class A common stock (as defined below) except as otherwise described
below;

 

		·	upon a minimum of 30 days’ prior written notice of redemption, or the 30-day redemption period, to each warrant holder;
and
	 	 	 

		·	if, and only if, the last reported sale price of our Class A common stock equals or exceeds $10.00 per share (as adjusted for
stock splits, stock dividends, reorganizations, recapitalizations and the like) on the trading day prior to the date on which we
send the notice of redemption to the warrant holders.

 

The numbers in the table below represent
the “redemption prices,” or the number of shares of Class A common stock that a warrant holder will receive
upon redemption by us pursuant to this redemption feature, based on the “fair market value” of our Class A common stock
on the corresponding redemption date, determined based on the average of the last reported sales price for the 10 trading days
ending on the third trading day prior to the date on which the notice of redemption is sent to the holders of warrants, and the
number of months that the corresponding redemption date precedes the expiration date of the warrants, each as set forth in the
table below.

 

The stock prices set forth in the column
headings of the table below will be adjusted as of any date on which the number of shares issuable upon exercise of a warrant is
adjusted as set forth in the first three paragraphs under the heading “—Anti-dilution Adjustments” below.
The adjusted stock prices in the column headings will equal the stock prices immediately prior to such adjustment, multiplied
by a fraction, the numerator of which is the number of shares deliverable upon exercise of a warrant immediately prior to such
adjustment and the denominator of which is the number of shares deliverable upon exercise of a warrant as so adjusted. The number
of shares in the table below shall be adjusted in the same manner and at the same time as the number of shares issuable upon exercise
of a warrant.

 

     

     

    

 

	 	 	Fair Market Value of Class A Common Stock	 
	Redemption Date (period 
 to expiration of warrants)	 		$10.00	 	 		$11.00	 	 		$12.00	 	 		$13.00	 	 		$14.00	 	 		$15.00	 	 		$16.00	 	 		$17.00	 	 		$18.00	 
	57 months	 	 	0.257	 	 	 	0.277	 	 	 	0.294	 	 	 	0.310	 	 	 	0.324	 	 	 	0.337	 	 	 	0.348	 	 	 	0.358	 	 	 	0.365	 
	54 months	 	 	0.252	 	 	 	0.272	 	 	 	0.291	 	 	 	0.307	 	 	 	0.322	 	 	 	0.335	 	 	 	0.347	 	 	 	0.357	 	 	 	0.365	 
	51 months	 	 	0.246	 	 	 	0.268	 	 	 	0.287	 	 	 	0.304	 	 	 	0.320	 	 	 	0.333	 	 	 	0.346	 	 	 	0.357	 	 	 	0.365	 
	48 months	 	 	0.241	 	 	 	0.263	 	 	 	0.283	 	 	 	0.301	 	 	 	0.317	 	 	 	0.332	 	 	 	0.344	 	 	 	0.356	 	 	 	0.365	 
	45 months	 	 	0.235	 	 	 	0.258	 	 	 	0.279	 	 	 	0.298	 	 	 	0.315	 	 	 	0.330	 	 	 	0.343	 	 	 	0.356	 	 	 	0.365	 
	42 months	 	 	0.228	 	 	 	0.252	 	 	 	0.274	 	 	 	0.294	 	 	 	0.312	 	 	 	0.328	 	 	 	0.342	 	 	 	0.355	 	 	 	0.364	 
	39 months	 	 	0.221	 	 	 	0.246	 	 	 	0.269	 	 	 	0.290	 	 	 	0.309	 	 	 	0.325	 	 	 	0.340	 	 	 	0.354	 	 	 	0.364	 
	36 months	 	 	0.213	 	 	 	0.239	 	 	 	0.263	 	 	 	0.285	 	 	 	0.305	 	 	 	0.323	 	 	 	0.339	 	 	 	0.353	 	 	 	0.364	 
	33 months	 	 	0.205	 	 	 	0.232	 	 	 	0.257	 	 	 	0.280	 	 	 	0.301	 	 	 	0.320	 	 	 	0.337	 	 	 	0.352	 	 	 	0.364	 
	30 months	 	 	0.196	 	 	 	0.224	 	 	 	0.250	 	 	 	0.274	 	 	 	0.297	 	 	 	0.316	 	 	 	0.335	 	 	 	0.351	 	 	 	0.364	 
	27 months	 	 	0.185	 	 	 	0.214	 	 	 	0.242	 	 	 	0.268	 	 	 	0.291	 	 	 	0.313	 	 	 	0.332	 	 	 	0.350	 	 	 	0.364	 
	24 months	 	 	0.173	 	 	 	0.204	 	 	 	0.233	 	 	 	0.260	 	 	 	0.285	 	 	 	0.308	 	 	 	0.329	 	 	 	0.348	 	 	 	0.364	 
	21 months	 	 	0.161	 	 	 	0.193	 	 	 	0.223	 	 	 	0.252	 	 	 	0.279	 	 	 	0.304	 	 	 	0.326	 	 	 	0.347	 	 	 	0.364	 
	18 months	 	 	0.146	 	 	 	0.179	 	 	 	0.211	 	 	 	0.242	 	 	 	0.271	 	 	 	0.298	 	 	 	0.322	 	 	 	0.345	 	 	 	0.363	 
	15 months	 	 	0.130	 	 	 	0.164	 	 	 	0.197	 	 	 	0.230	 	 	 	0.262	 	 	 	0.291	 	 	 	0.317	 	 	 	0.342	 	 	 	0.363	 
	12 months	 	 	0.111	 	 	 	0.146	 	 	 	0.181	 	 	 	0.216	 	 	 	0.250	 	 	 	0.282	 	 	 	0.312	 	 	 	0.339	 	 	 	0.363	 
	9 months	 	 	0.090	 	 	 	0.125	 	 	 	0.162	 	 	 	0.199	 	 	 	0.237	 	 	 	0.272	 	 	 	0.305	 	 	 	0.336	 	 	 	0.362	 
	6 months	 	 	0.065	 	 	 	0.099	 	 	 	0.137	 	 	 	0.178	 	 	 	0.219	 	 	 	0.259	 	 	 	0.296	 	 	 	0.331	 	 	 	0.362	 
	3 months	 	 	0.034	 	 	 	0.065	 	 	 	0.104	 	 	 	0.150	 	 	 	0.197	 	 	 	0.243	 	 	 	0.286	 	 	 	0.326	 	 	 	0.361	 
	0 months	 	 	—	 	 	 	—	 	 	 	0.042	 	 	 	0.115	 	 	 	0.179	 	 	 	0.233	 	 	 	0.281	 	 	 	0.323	 	 	 	0.361	 

 

The exact fair market value and redemption
date may not be set forth in the table above, in which case, if the fair market value is between two values in the table or the
redemption date is between two redemption dates in the table, the number of shares of Class A common stock to be issued for each
warrant redeemed will be determined by a straight-line interpolation between the number of shares set forth for the higher and
lower fair market values and the earlier and later redemption dates, as applicable, based on a 365 or 366-day year, as applicable.
For example, if the average last reported sale price of our Class A common stock for the 10 trading days ending on the third trading
date prior to the date on which the notice of redemption is sent to the holders of the warrants is $11 per share, and at such time
there are 57 months until the expiration of the warrants, we may choose to, pursuant to this redemption feature, redeem the warrants
at a “redemption price” of 0.277 shares of Class A common stock for each whole warrant. For an example where
the exact fair market value and redemption date are not as set forth in the table above, if the average last reported sale price
of our Class A stock for the 10 trading days ending on the third trading date prior to the date on which the notice of redemption
is sent to the holders of the warrants is $13.50 per share, and at such time there are 38 months until the expiration of the warrants,
we may choose to, pursuant to this redemption feature, redeem the warrants at a “redemption price” of 0.298
shares of Class A common stock for each whole warrant. Finally, as reflected in the table above, we can redeem the warrants for
no consideration in the event that the warrants are “out of the money” (i.e. the trading price of our Class A common
stock is below the exercise price of the warrants) and about to expire.

 

     

     

    

 

Any public warrants held by our officers
or directors will be subject to this redemption feature, except that such officers and directors shall only receive “fair
market value” for such public warrants so redeemed (“fair market value” for such public warrants held by our
officers or directors being defined as the last reported sale price of the public warrants on such redemption date).

 

This redemption feature is structured to
allow for all of the outstanding warrants (other than the private placement warrants) to be redeemed when the Class A common stock
is trading at or above $10.00 per share, which may be at a time when the trading price of our Class A ordinary shares is below
the exercise price of the warrants. We have established this redemption feature to provide us with the flexibility to redeem the
warrants for shares of Class A common stock, instead of cash, for “fair value” without the warrants having to reach
the $18.00 per share threshold set forth above under “—Redemption of Warrants for Cash.” Holders of the
warrants will, in effect, receive a number of shares representing fair value for their warrants based on a Black-Scholes option
pricing model with a fixed volatility input. This redemption right provides us not only with an additional mechanism by which to
redeem all of the outstanding warrants, in this case, for shares of Class A common stock, and therefore have certainty as to (1)
our capital structure as the warrants would no longer be outstanding and would have been exercised or redeemed and (2) to the amount
of cash provided by the exercise of the warrants and available to us, and also provides a ceiling to the theoretical value of the
warrants as it locks in the “redemption prices” we would pay to warrant holders if we chose to redeem warrants
in this manner. We will effectively be required to pay fair value to warrant holders if we choose to exercise this redemption right
and it will allow us to quickly proceed with a redemption of the warrants for shares of Class A common stock if we determine it
is in our best interest to do so. As such, we would redeem the warrants in this manner when we believe it is in our best interest
to update our capital structure to remove the warrants and pay fair value to the warrant holders. In particular, it would allow
us to quickly redeem the warrants for shares of Class A common stock, without having to negotiate a redemption price with the warrant
holders. In addition, the warrant holders will have the ability to exercise the warrants prior to redemption if they should choose
to do so.

 

As stated above, we can redeem the
warrants when the Class A common stock is trading at a price starting at $10, which is below the exercise price of $11.50,
because it will provide certainty with respect to our capital structure and cash position while providing warrant holders
with fair value (in the form of shares of Class A common stock). If we choose to redeem the warrants when the Class A common
stock is trading at a price below the exercise price of the warrants, this could result in the warrant holders receiving
fewer shares of Class A common stock than they would have received if they had chosen to wait to exercise their warrants for
shares of Class A common stock if and when our Class A common stock is trading at a price higher than the exercise price of
$11.50.

 

No fractional shares of Class A common stock
will be issued upon redemption. If, upon redemption, a holder would be entitled to receive a fractional interest in a share, we
will round down to the nearest whole number of the number of shares of Class A common stock to be issued to the holder.

 

Redemption Procedures and Cashless
Exercise. If we call the warrants for redemption as described above, our management will have the option to require
all holders that wish to exercise warrants to do so on a “cashless basis.” In determining whether to require all holders
to exercise their warrants on a “cashless basis,” our management will consider, among other factors, our cash position,
the number of warrants that are outstanding and the dilutive effect on our stockholders of issuing the maximum number of shares
of Class A common stock issuable upon the exercise of our warrants. In such event, each holder would pay the exercise price by
surrendering the warrants for that number of shares of Class A common stock equal to the quotient obtained by dividing (x) the
product of the number of shares of Class A common stock underlying the warrants, multiplied by the excess of the “fair market
value” (as defined below) over the exercise price of the warrants by (y) the fair market value. The “fair market value”
shall mean the average last reported sale price of the Class A common stock for the 10 trading days ending on the third trading
day prior to the date on which the notice of redemption is sent to the holders of warrants. If our management takes advantage of
this option, the notice of redemption will contain the information necessary to calculate the number of shares of Class A common
stock to be received upon exercise of the warrants, including the “fair market value” in such case. Requiring a cashless
exercise in this manner will reduce the number of shares to be issued and thereby lessen the dilutive effect of a warrant redemption.
We believe this feature is an attractive option to us if we do not need the cash from the exercise of the warrants. If we call
our warrants for redemption and our management does not take advantage of this option, the Sponsor Members and their respective
permitted transferees would still be entitled to exercise their private placement warrants for cash or on a cashless basis using
the same formula described above that other warrant holders would have been required to use had all warrant holders been required
to exercise their warrants on a cashless basis, as described in more detail below.

 

     

     

    

 

A holder of a warrant may notify us in writing
in the event it elects to be subject to a requirement that such holder will not have the right to exercise such warrant, to the
extent that after giving effect to such exercise, such person (together with such person’s affiliates), would beneficially
own in excess of 9.8% (or such other amount as a holder may specify) of the shares of Class A common stock outstanding immediately
after giving effect to such exercise.

 

Anti-Dilution Adjustments.
If the number of outstanding shares of Class A common stock is increased by a stock dividend payable in shares of Class A common
stock, or by a split-up of shares of Class A common stock or other similar event, then, on the effective date of such stock dividend,
split-up or similar event, the number of shares of Class A common stock issuable on exercise of each warrant will be increased
in proportion to such increase in the outstanding shares of Class A common stock. A rights offering to holders of Class A common
stock entitling holders to purchase shares of Class A common stock at a price less than the fair market value will be deemed a
stock dividend of a number of shares of Class A common stock equal to the product of (1) the number of shares of Class A common
stock actually sold in such rights offering (or issuable under any other equity securities sold in such rights offering that are
convertible into or exercisable for Class A common stock) multiplied by (2) one minus the quotient of (x) the price per share of
Class A common stock paid in such rights offering divided by (y) the fair market value. For these purposes (1) if the rights offering
is for securities convertible into or exercisable for Class A common stock, in determining the price payable for Class A common
stock, there will be taken into account any consideration received for such rights, as well as any additional amount payable upon
exercise or conversion and (2) fair market value means the volume weighted average price of Class A common stock as reported during
the ten trading day period ending on the trading day prior to the first date on which the shares of Class A common stock trade
on the applicable exchange or in the applicable market, regular way, without the right to receive such rights.

 

In addition, if we, at any time while
the warrants are outstanding and unexpired, pay a dividend or make a distribution in cash, securities or other assets to the
holders of Class A common stock on account of such shares of Class A common stock (or other shares of our capital stock into
which the warrants are convertible), other than (a) as described above, (b) certain ordinary cash dividends, or (c) to
satisfy the redemption rights of the holders of Class A common stock in connection with the Business Combination, then the
warrant exercise price will be decreased, effective immediately after the effective date of such event, by the amount of cash
and/or the fair market value of any securities or other assets paid on each share of Class A common stock in respect of such
event.

 

     

     

    

 

 

If the number of outstanding shares of our
Class A common stock is decreased by a consolidation, combination, reverse stock split or reclassification of shares of Class A
common stock or other similar event, then, on the effective date of such consolidation, combination, reverse stock split, reclassification
or similar event, the number of shares of Class A common stock issuable on exercise of each warrant will be decreased in proportion
to such decrease in outstanding shares of Class A common stock.

 

Whenever the number of shares of Class A
common stock purchasable upon the exercise of the warrants is adjusted, as described above, the warrant exercise price will be
adjusted by multiplying the warrant exercise price immediately prior to such adjustment by a fraction (x) the numerator of which
will be the number of shares of Class A common stock purchasable upon the exercise of the warrants immediately prior to such adjustment,
and (y) the denominator of which will be the number of shares of Class A common stock so purchasable immediately thereafter.

 

In case of any reclassification or reorganization
of the outstanding shares of Class A common stock (other than those described above or that solely affects the par value of such
shares of Class A common stock), or in the case of any merger or consolidation of us with or into another corporation (other than
a consolidation or merger in which we are the continuing corporation and that does not result in any reclassification or reorganization
of our outstanding shares of Class A common stock), or in the case of any sale or conveyance to another corporation or entity of
the assets or other property of us as an entirety or substantially as an entirety in connection with which we are dissolved, the
holders of the warrants will thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions
specified in the warrants and in lieu of the shares of our Class A common stock immediately theretofore purchasable and receivable
upon the exercise of the rights represented thereby, the kind and amount of shares of stock or other securities or property (including
cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such
sale or transfer, that the holder of the warrants would have received if such holder had exercised their warrants immediately prior
to such event. However, if such holders were entitled to exercise a right of election as to the kind or amount of securities, cash
or other assets receivable upon such consolidation or merger, then the kind and amount of securities, cash or other assets for
which each warrant will become exercisable will be deemed to be the weighted average of the kind and amount received per share
by such holders in such consolidation or merger that affirmatively make such election, and if a tender, exchange or redemption
offer has been made to and accepted by such holders under circumstances in which, upon completion of such tender or exchange offer,
the maker thereof, together with members of any group (within the meaning of Rule 13d-5(b)(1) under the Exchange Act) of which
such maker is a part, and together with any affiliate or associate of such maker (within the meaning of Rule 12b-2 under the Exchange
Act) and any members of any such group of which any such affiliate or associate is a part, own beneficially (within the meaning
of Rule 13d-3 under the Exchange Act) more than 50% of the outstanding shares of Class A common stock, the holder of a warrant
will be entitled to receive the highest amount of cash, securities or other property to which such holder would actually have been
entitled as a stockholder if such warrant holder had exercised the warrant prior to the expiration of such tender or exchange offer,
accepted such offer and all of the Class A common stock held by such holder had been purchased pursuant to such tender or exchange
offer, subject to adjustments (from and after the consummation of such tender or exchange offer) as nearly equivalent as possible
to the adjustments provided for in the warrant agreement. Additionally, if less than 70% of the consideration receivable by the
holders of Class A common stock in such a transaction is payable in the form of Class A common stock in the successor entity that
is listed for trading on a national securities exchange or is quoted in an established over-the-counter market, or is to be so
listed for trading or quoted immediately following such event, and if the registered holder of the warrant properly exercises the
warrant within thirty days following public disclosure of such transaction, the warrant exercise price will be reduced as specified
in the warrant agreement based on the per share consideration minus Black-Scholes Warrant Value (as defined in the warrant agreement)
of the warrant.

 

The warrants have been issued under a
warrant agreement between Computershare Trust Company, N.A. and Computershare Inc., acting together as warrant agent, and us.
The warrant agreement provides that the terms of the warrants may be amended without the consent of any holder to cure any
ambiguity or correct any defective provision, but requires the approval by the holders of at least 50% of the then
outstanding public warrants to make any change that adversely affects the interests of the registered holders of public
warrants.

 

     

     

    

 

The warrants may be exercised upon surrender
of the warrant certificate on or prior to the expiration date at the offices of the warrant agent, with the exercise form on the
reverse side of the warrant certificate completed and executed as indicated, accompanied by full payment of the exercise price
(or on a cashless basis, if applicable), by certified or official bank check payable to us, for the number of warrants being exercised.
The warrant holders do not have the rights or privileges of holders of Class A common stock and any voting rights until they exercise
their warrants and receive shares of Class A common stock. After the issuance of shares of Class A common stock upon exercise of
the warrants, each holder will be entitled to one vote for each share held of record on all matters to be voted on by stockholders.

 

No fractional warrants will be issued upon
separation of the units and only whole warrants will trade.

 

Private Placement Warrants

 

With certain limited exceptions, the private
placement warrants and the respective Class A common stock underlying such warrants are not transferable, assignable or salable
(except to our officers and directors and other persons or entities affiliated with the Sponsor Members, each of whom will be subject
to the same transfer restrictions) until the period ending March 30, 2020. The private placement warrants will not be redeemable
by us so long as they are held by the Sponsor Members or their respective permitted transferees. The Sponsor Members, or their
respective permitted transferees, have the option to exercise the private placement warrants on a cashless basis and are entitled
to certain registration rights. Otherwise, the private placement warrants have terms and provisions that are identical to those
of the public warrants. If the private placement warrants are held by holders other than the Sponsor Members or their respective
permitted transferees, the private placement warrants will be redeemable by us and exercisable by the holders on the same basis
as the warrants included in the units being sold in this offering.

 

If holders of the private placement warrants
elect to exercise them on a cashless basis, they would pay the exercise price by surrendering his, her or its warrants for that
number of shares of Class A common stock equal to the quotient obtained by dividing (x) the product of the number of shares of
Class A common stock underlying the warrants, multiplied by the excess of the “fair market value” (as defined below)
over the exercise price of the warrants by (y) the fair market value. The “fair market value” shall mean the
average last reported sale price of the Class A common stock for the 10 trading days ending on the third trading day prior to the
date on which the notice of redemption is sent to the holders of warrants. If a holder of private placement warrants is affiliated
with us, their ability to sell our securities in the open market will be significantly limited. We have policies in place that
prohibit insiders from selling our securities except during specific periods of time. Even during such periods of time when insiders
will be permitted to sell our securities, an insider cannot trade in our securities if he or she is in possession of material non-public
information. Accordingly, unlike public stockholders who could exercise their warrants and sell the shares of Class A common stock
received upon such exercise freely in the open market in order to recoup the cost of such exercise, the insiders could be significantly
restricted from selling such securities.

 

Dividends

 

We have not paid any cash dividends on our
common stock to date. We expect to initiate an annual dividend of $0.01 per share of our Class A common stock. We are a holding
company without any direct operations and have no significant assets other than our ownership interest in Second Merger Sub. Accordingly,
our ability to pay dividends depends upon the financial condition, liquidity and results of operations of, and our receipt of dividends,
loans or other funds from, our subsidiaries. Our subsidiaries are separate and distinct legal entities and have no obligation to
make funds available to us. In addition, there are various statutory, regulatory and contractual limitations and business considerations
on the extent, if any, to which our subsidiaries may pay dividends, make loans or otherwise provide funds to us. For example, the
ability of our subsidiaries to make distributions, loans and other payments to us for the purposes described above and for any
other purpose may be limited by the terms of the agreements governing our outstanding indebtedness. The declaration and payment
of dividends is also at the discretion of our Board and depends on various factors including our results of operations, financial
condition, cash requirements, prospects and other factors deemed relevant by our Board.

 

In addition, under Delaware law, our Board
may declare dividends only to the extent of our surplus (which is defined as total assets at fair market value minus total liabilities,
minus statutory capital) or, if there is no surplus, out of our net profits for the then-current and/or immediately preceding fiscal
year.

 

     

     

    

 

Transfer Agent

 

The transfer agent for our common stock
is Computershare Trust Company, N.A. and our warrant agent for our warrants is Computershare Trust Company, N.A. and Computershare
Inc. (collectively, “Computershare”), acting together. We have agreed to indemnify and hold harmless Computershare
in its roles as transfer agent from and against any and all losses, claims, damages, costs, charges, counsel fees and expenses,
payments, expenses and liability arising out of or attributable to Computershare’s duties as transfer agent, except for Computershare’s
negligence, willful misconduct or breach of confidentiality. We have also agreed to indemnify and hold harmless Computershare in
its roles as warrant agent against any costs, expenses (including reasonable fees of its legal counsel), losses or damages, which
may be paid, incurred or suffered by or to which it may become subject, arising from or out of, directly or indirectly, any claims
or liability resulting from its actions as warrant agent; provided, however, that such covenant and agreement of us does not extend
to, and Computershare shall not be indemnified with respect to, such costs, expenses, losses and damages incurred or suffered by
Computershare as a result of, or arising out of, its gross negligence, bad faith or willful misconduct (each as determined by a
final judgment of a court of competent jurisdiction).

 

Certain Anti-Takeover Provisions of Delaware
Law, the Charter and Bylaws

 

Our Certificate of Incorporation contains
provisions that may discourage unsolicited takeover proposals that stockholders may consider to be in their best interests. We
are also subject to anti-takeover provisions under Delaware law, which could delay or prevent a change of control. Together, these
provisions may make more difficult the removal of management and may discourage transactions that otherwise could involve payment
of a premium over prevailing market prices for our securities. Certain of these provisions provide:

 

		·	no cumulative voting in the election of directors, which limits the ability of minority stockholders to elect director candidates;
	 	 	 

		·	the requirement that directors may only be removed from the Board for cause;
	 	 	 

		·	the right of our Board to elect a director to fill a vacancy created by the expansion of our Board or the resignation, death
or removal of a director in certain circumstances, which prevents stockholders from being able to fill vacancies on our Board;
	 	 	 

		·	a prohibition on stockholder action by written consent, which forces stockholder action to be taken at an annual or special
meeting of our stockholders;
	 	 	 

		·	a prohibition on stockholders calling a special meeting and the requirement that a meeting of stockholders may only be called
by members of our Board or the Chief Executive Officer of the Company, which may delay the ability of our stockholders to force
consideration of a proposal or to take action, including the removal of directors; and
	 	 	 

		·	advance notice procedures that stockholders must comply with in order to nominate candidates to our Board or to propose matters
to be acted upon at a meeting of stockholders, which may discourage or deter a potential acquirer from conducting a solicitation
of proxies to elect the acquirer’s own slate of directors or otherwise attempting to obtain control of the Company.

 

     

     

    

 

Forum Selection

 

Our Certificate of Incorporation
includes a forum selection clause, which provides that, unless we consent in writing to the selection of an alternative
forum, the Court of Chancery in the State of Delaware shall be the sole and exclusive forum for any stockholder (including a
beneficial owner) to bring: (a) any derivative action or proceeding brought on behalf of the Company; (b) any action
asserting a claim of breach of fiduciary duty owed by any of our directors, officers or other employees of the Company to the
Company or our stockholders; (c) any action asserting a claim arising pursuant to any provision of the DGCL or our
Certificate of Incorporation or Bylaws; or (d) any action asserting a claims governed by the internal affairs doctrine,
except for, as to each of (a) through (d) above, any claim (i) as to which the Court of Chancery determines that there is an
indispensable party not subject to the jurisdiction of the Court of Chancery (and the indispensable party does not consent to
the personal jurisdiction of the Court of Chancery within ten days following such determination), (ii) which is vested in the
exclusive jurisdiction of a court or forum other than the Court of Chancery, (iii) for which the Court of Chancery does not
have subject matter jurisdiction or (iv) arising under the federal securities laws, including the Securities Act, as to which
the Court of Chancery and the federal district court for the District of Delaware shall concurrently be the sole and
exclusive forums. Notwithstanding the foregoing, the forum selection clause will not apply to suits brought to enforce any
liability or duty created by the Exchange Act or any other claim for which the federal district courts of the United States
of America shall be the sole and exclusive forum.

 

Stockholders Agreement

 

At the closing of the Business Combination,
the Company, the Sponsor Members and the Vertiv Stockholder entered into that certain Stockholders' Agreement, dated as of February
7, 2020 (the “Stockholders Agreement”). The Stockholders Agreement provides that the Vertiv Stockholder may
not transfer the 118,261,955 shares of Class A common stock issued to the Vertiv Stockholder at the closing of the Business Combination
until August 5, 2020, subject to exceptions allowing for certain transfers to related parties and transfers in connection with
extraordinary transactions by the Company. Pursuant to the Stockholders Agreement, the Vertiv Stockholder will have the right to
nominate up to four directors to our Board, subject to its ownership percentage of the total outstanding shares of Class A common
stock. If the Vertiv Stockholder holds: (i) 30% or greater of the outstanding Class A common stock, it will have the right to nominate
four directors (two of which must be independent); (ii) less than 30% but greater than or equal to 20% of the outstanding Class
A common stock, it will have the right to nominate three directors (one of which must be independent); (iii) less than 20% but
greater than or equal to 10% of the outstanding Class A common stock, it will have the right to nominate two directors; (iv) less
than 10% but greater than or equal to 5% of the outstanding Class A common stock, it will have the right to nominate one director;
and (iv) less than 5% of the outstanding Class A common stock, it will not have the right to nominate any directors. As long as
the Vertiv Stockholder has the right to nominate at least one director, the Vertiv Stockholder shall have certain rights to appoint
its nominees to committees of the Board and the Company shall take certain actions to ensure the number of directors serving on
the Board does not exceed nine. In addition, the Stockholders Agreement provides that so long as the Company has any Executive
Chairman or Chief Executive Officer as a named executive officer, the Company shall take certain actions to include such Executive
Chairman or Chief Executive Officer on the slate of nominees recommended by the Board for election. The Stockholders Agreement
also provides that, for so long as the Vertiv Stockholder holds at least 5% of our outstanding Class A common stock, the Vertiv
Stockholder will have the right to designate an observer to attend meetings of the Board, subject to certain limitations.

 

Listing

 

Our Class A common stock, warrants and units
are traded on the NYSE under the symbols “VRT,” “VRT WS” and “VERT.U,” respectively.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00306-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00306-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00306-of-00352.parquet"}]]