SEC Contract Filing

Filing Date: 2023-07-06

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ea181303ex10-1_rumbleoninc.htm
<DESCRIPTION>COOPERATION AGREEMENT, DATED JUNE 30, 2023, BY AND AMONG RUMBLEON, INC., WILLIAM COULTER, AND MARK TKACH
<TEXT>
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.1</B></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><I>Execution Version</I></B></P>

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

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>COOPERATION AGREEMENT</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This COOPERATION AGREEMENT
(this &ldquo;<B>Agreement</B>&rdquo;) is made and entered into as of June&nbsp;30, 2023 (the &ldquo;<B>Effective Date</B>&rdquo;), by
and among RumbleOn, Inc., a Nevada corporation (the &ldquo;<B>Company</B>&rdquo;), on the one hand, and William Coulter and Mark Tkach
(each a &ldquo;<B>Stockholder</B>&rdquo; and together, the &ldquo;<B>Stockholders</B>&rdquo;), on the other hand. The Company and the
Stockholders are each herein referred to as a &ldquo;<B>Party</B>&rdquo; and collectively as the &ldquo;<B>Parties</B>.&rdquo; Capitalized
terms used herein and not otherwise defined have the meanings ascribed to them in <U>Section&nbsp;13</U> below.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, as of the
Effective Date, Mr. Coulter beneficially owns an aggregate of 2,621,405 shares of Common Stock;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, as of the
Effective Date, Mr. Tkach beneficially owns an aggregate of 2,621,028 shares of Common Stock;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, on March 16,
2023, the Stockholders submitted to the Company a notice of (the &ldquo;<B>Nomination Notice</B>&rdquo;) their intent to nominate Mr.
Coulter and Melvin Flanigan for election to the Board of Directors of the Company (the &ldquo;<B>Board</B>&rdquo;) and submit certain
other stockholder proposals for consideration at the 2023 Annual Meeting of Stockholders of the Company (including any adjournments, postponements,
reschedulings or continuations thereof and any meeting which may be called in lieu thereof, the &ldquo;<B>2023 Annual Meeting</B>&rdquo;);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, on June 15,
2023 (the &ldquo;<B>Term Sheet Effective Date</B>&rdquo;), the Company and the Stockholders entered into a Binding Term Sheet (the &ldquo;<B>Term
Sheet</B>&rdquo;) relating to the settlement of the matters subject to a proxy contest at the 2023 Annual Meeting;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, on June 16,
2023, the Board appointed Mr. Tkach as the Company&rsquo;s Interim Chief Executive Officer; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the Company
and the Stockholders have determined to come to an agreement with respect to the composition of the Board and certain other matters, as
provided in this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOW, THEREFORE</B>, in
consideration of the foregoing premises and the mutual covenants and agreements contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound hereby, agree as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>1.&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Board
Composition and Related Matters</U></FONT></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;<U>Board
Matters</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(i)&nbsp;Following
the execution of the Term S