SEC Contract Filing

Filing Date: 2021-07-09

Document Content:
<DOCUMENT>
<TYPE>EX-10.9
<SEQUENCE>11
<FILENAME>d198478dex109.htm
<DESCRIPTION>EX-10.9
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<TITLE>EX-10.9</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.9 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Execution Version </B></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">July&nbsp;8, 2021 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Bullish </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">c/o Maples Corporate Services Limited </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">PO Box 309, Ugland House </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Grand Cayman, <FONT
STYLE="white-space:nowrap">KY1-1104</FONT> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Cayman Islands </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Re: Standstill Agreement </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This letter (this &#147;<B><I>Letter Agreement</I></B>&#148;) is being delivered to you in accordance with that certain Business Combination
Agreement (as may be amended, restated or supplemented from time to time, the &#147;<B><I>Business Combination Agreement</I></B>&#148;) entered into by and among Bullish, a Cayman Islands exempted company (&#147;<B><I>Pubco</I></B>&#148;), Bullish
Global, a Cayman Islands exempted company (the &#147;<B><I>Company</I></B>&#148;), Far Peak Acquisition Corporation, a Cayman Islands exempted company (&#147;<B><I>Purchaser</I></B>&#148;), BMC 1, a Cayman Islands exempted company
(&#147;<B><I>Merger Sub 1</I></B>&#148;) and BMC 2, a Cayman Islands exempted company (&#147;<B><I>Merger Sub 2</I></B>&#148;), pursuant to which, among other things, Purchaser will be merged with and into Merger Sub 1, with Merger Sub 1 being the
surviving entity and a wholly owned subsidiary of Pubco, and Merger Sub 2 will be merged with and into the Company, with the Company being the surviving entity and a wholly owned subsidiary of Pubco. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In order to induce Pubco and Purchaser to proceed with the Mergers (as defined in the Business Combination Agreement) and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned (the &#147;<B><I>Shareholder</I></B>&#148;) hereby agrees with Pubco as follows: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">For a period beginning on the Acquisition Closing Date (as defined in the Business Combination Agreement) and
ending on the second anniversary of the Acquisition Closing Date (the &#147;<B><I>Standstill Period</I></B>&#148;), the Shareholder covenants and agrees not to, and shall cause its controlled Affiliates not to, directly or indirectly acquire,
whether by purchase, tender or exchange offer, by joining a partnership, limited partnership, limited liability company, syndicate or other group or entity, through swap or hedging transactions or otherwise, record or beneficial ownership of any
share capital of Pubco other than an: (i)&nbsp;acquisition from any other person that has entered into a letter agreement substantially similar to this Agreement; (ii)&nbsp;acquisition pursuant to any award of restricted share units or options under
the Pubco Equity Plan (as defined in the Business Combination Agreement) or upon settlement of restricted share units or exercise of options; (iii)&nbsp;acquisition pursuant to distribution or transfer of any share capital of Pubco by block.one to
its shareholders via share dividend or repurchase; (iv)&nbsp;acquisition as a result of any share split, combination, recapitalization or other similar transaction in or of the securities of Pubco; or (v)&nbsp;acquisition that is otherwise approved
by the board of directors of Pubco (the &#147;<B><I>Board</I></B>&#148;) (including a majority of Pubco&#146;s independent directors). For the avoidance of doubt, but subject to any trading restrictions under applicable securities law, this
Agreement shall not in any way limit, restrict or prevent a disposition of any share capital of Pubco regardless of the manner of such disposition (including any deferred disposition, forward contract, installment sale, collateralized convertible
security or similar instrument). During the Standstill Period, the Shareholder shall be permitted to make requests to the Board to amend or waive any of the restrictions or obligations set forth herein; provided, that (i)&nbsp;any such request shall
not be publicly disclosed by the Shareholder, and (ii)&nbsp;any such request shall be made in a manner that is not reasonably likely to require the public disclosure of such request by Pubco; provided, further, that the approval of any such
amendment or waiver may only be granted by the written consent of the majority of Board (including a majority of Pubco&#146;s independent directors). </P></TD></T