SEC Contract Filing

Filing Date: 2022-03-30

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>formofdirectorfeeagreementa.htm
<DESCRIPTION>EX-10.5
<TEXT>
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<title>Document</title></head><body><div id="ie6b9ba629ea3435bac863faa0a103764_1"></div><div style="min-height:72pt;width:100%"><div style="margin-top:6pt;text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">Exhibit 10.5</font></div></div><div style="margin-bottom:12pt;margin-top:6pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">DIRECTOR FEE AGREEMENT</font></div><div style="margin-top:6pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">This Director Fee Agreement (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">Agreement</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#8221;) is made and entered into by and among Emil W. Henry, Jr. (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">Director</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#8221;), Tiger Infrastructure Partners LP, a Delaware limited partnership (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">Tiger</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#8221;), and Sunlight Financial Holdings Inc., a Delaware corporation (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">Company</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#8221;), effective as of March 29, 2022.</font></div><div style="margin-top:6pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">WHEREAS</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">, in connection with the Director&#8217;s service on the board of directors (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">Board</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#8221;) of the Company, the Company desires to memorialize in writing its existing agreement to compensate the Director for such service on the Board, pursuant to the terms and conditions set forth herein.</font></div><div style="margin-top:6pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">NOW, THEREFORE</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">, in consideration of the mutual covenants, promises, and obligations set forth herein, the parties agree as follows&#58;</font></div><div style="margin-bottom:12pt;margin-top:12pt;text-align:justify;text-indent:21.55pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">1.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;padding-left:5.45pt;text-decoration:underline">Compensation</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">. In exchange for the Director&#8217;s service on the Board, the Company shall pay to Tiger cash equal to the sum of&#58; a) the annual cash compensation otherwise payable to non-employee members of the Board for their participation on the Board during the covered year, plus (b) cash equal to the fair market value of the equity award that is otherwise payable to the non-employee members of the Board for their participation on the Board for the covered year, valued as of and payable after the applicable vesting date, or as otherwise provided in the then current outside director compensation policy with approval of the Compensation Committee or such other committee vested with such authority by the Board.</font></div><div style="margin-bottom:12pt;margin-top:12pt;text-align:justify;text-indent:21.55pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">2.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;padding-left:5.45pt;text-decoration:underline">Amendment, Waiver</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">. This Agreement may not be modified, amended or waived in any manner, except by an instrument in writing signed by all parties hereto. The waiver by any party of compliance with any provision of this Agreement by the other party or parties shall not operate or be construed as a waiver of any other provision of this Agreement, or of any subsequent breach by such party of a provision of this Agreement.</font></div><div style="margin-bottom:12pt;margin-top:12pt;text-align:justify;text-indent:21.55pt"><font style="color:#000000;font-family:'Times N