SEC Contract Filing

Filing Date: 2021-01-29

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>7
<FILENAME>ea134120ex10-3_dandzmedia.htm
<DESCRIPTION>WARRANT PURCHASE AGREEMENT, DATED JANUARY 25, 2021, BETWEEN THE COMPANY AND D AND Z MEDIA HOLDINGS LLC
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.3</B></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">PRIVATE
PLACEMENT WARRANTS PURCHASE AGREEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; 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 PRIVATE PLACEMENT
WARRANTS PURCHASE AGREEMENT, dated as of January 25, 2021 (as it may from time to time be amended, this &ldquo;<B>Agreement</B>&rdquo;),
is entered into by and between D and Z Media Acquisition Corp., a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;), and
D and Z Media Holdings LLC, a Delaware limited liability company (the &ldquo;<B>Purchaser</B>&rdquo;).</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">WHEREAS, the Company
intends to consummate an initial public offering of the Company&rsquo;s units (the &ldquo;<B>Public Offering</B>&rdquo;), each
unit consisting of one share of the Company&rsquo;s Class A common stock, par value $0.0001 per share (each, a &ldquo;<B>Share</B>&rdquo;),
and one-third of one redeemable warrant. Each whole warrant entitles the holder to purchase one Share at an exercise price of $11.50
per Share. The Purchaser has agreed to purchase an aggregate of 4,433,333 warrants (or 4,915,217 warrants in the aggregate to the
extent the over-allotment option in connection with the Public Offering is exercised) (the &ldquo;<B>Private Placement Warrants</B>&rdquo;),
each Private Placement Warrant entitling the holder to purchase one Share at an exercise price of $11.50 per Share.</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">NOW THEREFORE, in consideration
of the mutual promises contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties to this Agreement hereby, intending legally to be bound, agree 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"><U>AGREEMENT</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 1 Authorization,
Purchase and Sale; Terms of the Private Placement Warrants</B>.</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"><FONT STYLE="text-decoration: none">A.
</FONT><U>Authorization of the Private Placement Warrants</U>. <FONT STYLE="text-decoration: none">The Company has duly authorized
the issuance and sale of the Private Placement Warrants to the Purchaser.</FONT></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"><U>B. Purchase and
Sale of the Private Placement Warrants</U>.</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">On the date of the
consummation of the Public Offering or on such earlier time and date as may be mutually agreed by the Purchaser and the Company
(the &ldquo;<B>Initial Closing Date</B>&rdquo;), the Company shall issue and sell to the Purchaser, and the Purchaser shall purchase
from the Company, 4,433,333 Private Placement Warrants at a price of $1.50 per warrant for an aggregate purchase price of $6,650,000
(the &ldquo;<B>Purchase Price</B>&rdquo;), which shall be paid by wire transfer of immediately available funds to the Company in
accordance with the Company&rsquo;s wiring instructions at least one business day prior to the date of effectiveness of the registration
statement on Form S-1 (File No. 333-252000) (the &ldquo;<B><I>Registration Statement</I></B>&rdquo;) filed in connection with the
Public Offering. On the Initial Closing Date, the Company, shall either, at its option, deliver certificates evidencing the Private
Placement Warrants purchased by the Purchaser on such date duly registered in the Purchaser&rsquo;s name to the Purchaser, or effect
such delivery in book-entry form. On the date of the consummation of the closing of the over-allotment option in connection with
the Public Offering or on such earlier time and date as may be mutually agreed by the Purchaser and the Company (each such date,
an &ldquo;<B>Over-allotment Closing Date</B>,&rdquo; and each Over-allotment Closing Date (if any) and the Initial Closing Date
being sometimes referred to herein as a &ldquo;<B>Closing Date</B>&rdquo;), the Company shall issue and sell to the Purchaser,
and the Purchaser shall purchase from the Company, up to an aggregate of 481,884 Private Placem