SEC Contract Filing

Filing Date: 2017-08-02

Document Content:
<DOCUMENT>
<TYPE>EX-10.1A
<SEQUENCE>6
<FILENAME>s107004_ex10-1a.htm
<DESCRIPTION>EXHIBIT 10.1(A)
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.1(a)</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">July 27, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pensare Acquisition Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1720 Peachtree Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Suite 629</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Atlanta, GA 30309</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">EarlyBirdCapital, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">366 Madison Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">New York, New York 10017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Re: <U>Initial Public Offering</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ladies and Gentlemen:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This letter (this &ldquo;<B><I>Letter
Agreement</I></B>&rdquo;) is being delivered to you in accordance with the Underwriting Agreement (the &ldquo;<B><I>Underwriting
Agreement</I></B>&rdquo;) entered into by and between Pensare Acquisition Corp., a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;),
and EarlyBirdCapital, Inc., as representative of the several underwriters (the &ldquo;<B><I>Underwriters</I></B>&rdquo;), relating
to an underwritten initial public offering (the &ldquo;<B><I>Public</I></B>&nbsp;<B><I>Offering</I></B>&rdquo;), of 27,000,000
of the Company&rsquo;s units (the &ldquo;<B><I>Units</I></B>&rdquo;), each comprised of one share of the Company&rsquo;s common
stock, par value $0.001 per share (the &ldquo;<B><I>Common Stock</I></B>&rdquo;), one right to receive one-tenth of one share of
Common Stock (each, a &ldquo;<B><I>Right</I></B>&rdquo;) and one-half of one warrant (each, a &ldquo;<B><I>Warrant</I></B>&rdquo;).
Each whole Warrant&nbsp;entitles the holder thereof to purchase one share of the Common Stock at a price of $11.50 per share, subject
to adjustment. The Units shall be sold in the Public Offering pursuant to the registration statements on Form S-1, Nos. 333-219162
and 333-219518 and the prospectus (the &ldquo;<B><I>Prospectus</I></B>&rdquo;) filed by the Company with the Securities and Exchange
Commission (the &ldquo;<B><I>Commission</I></B>&rdquo;) and the Company has applied to have the Units&nbsp;listed on the NASDAQ
Capital Market. Certain capitalized terms used herein are defined in paragraph ten hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In order to induce
the Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the Public Offering and for other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Pensare Sponsor Group, LLC (the
&ldquo;<B><I>Sponsor</I></B>&rdquo;) hereby agrees with the Company as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Sponsor agrees that if the Company seeks stockholder approval of a proposed Business Combination, then in connection
with such proposed Business Combination, it shall vote all Founder Shares and any shares acquired by it in the Public Offering
or the secondary public market in favor of such proposed Business Combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.5in; text-align: justify">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Sponsor hereby agrees that in the event that the Company fails to consummate a Business Combination within the time
period set forth in the Company&rsquo;s amended and restated certificate of incorporation, as the same may be amended from time
to time, the Sponsor shall take all reasonable steps to cause the Company to (i) cease all operations except for the purpose of
winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem 100% of the Common
Stock sold as