SEC Contract Filing

Filing Date: 2019-08-09

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>inwk8-kex101cooperationagr.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<div><a name="s7E7972F038123E3A36516DCDF7EF0104"></a></div><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:130%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">COOPERATION AGREEMENT </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:130%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:10pt;">This Cooperation Agreement, dated as of August </font><font style="font-family:inherit;font-size:11pt;">[&#8226;]</font><font style="font-family:inherit;font-size:10pt;">, 2019 (this &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Agreement</font><font style="font-family:inherit;font-size:10pt;">&#8221;), is by and among InnerWorkings, Inc. (the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Company</font><font style="font-family:inherit;font-size:10pt;">&#8221;) and the persons and entities set forth on </font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Schedule A</font><font style="font-family:inherit;font-size:10pt;">&#32;hereto (the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Engaged Group</font><font style="font-family:inherit;font-size:10pt;">,&#8221; and, for clarity and as applicable, including each member thereof acting individually). </font></div><div style="line-height:130%;padding-bottom:16px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">RECITALS</font></div><div style="line-height:130%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, the Company and Engaged Capital, LLC, a member of the Engaged Group, have engaged in various discussions and communications concerning the Company&#8217;s business, financial performance and strategic plans;</font></div><div style="line-height:130%;padding-bottom:16px;text-align:justify;text-indent:312px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:130%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, as of the date hereof, the Engaged Group is the Beneficial Owner (as defined below) of 2,582,346 shares of common stock, $0.0001 par value per share, of the Company (the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Common Stock</font><font style="font-family:inherit;font-size:10pt;">&#8221;), or approximately 4.98% of the Common Stock issued and outstanding on the date hereof; and</font></div><div style="line-height:130%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, the Company and the Engaged Group have determined to come to an agreement with respect to certain matters relating to the composition of the Board of Directors of the Company (the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Board</font><font style="font-family:inherit;font-size:10pt;">&#8221;) and certain other matters, as provided in this Agreement. </font></div><div style="line-height:130%;padding-bottom:16px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">AGREEMENT</font></div><div style="line-height:130%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NOW, THEREFORE, 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 (as defined below), intending to be legally bound hereby, agree as follows:</font></div><div style="line-height:130%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1. </font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Board Appointments, Committees and Related Agreements.</font><font style="font-family:inherit;font-size:10pt;">&#32;</font></div><div style="line-height:130%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#010000;">(a) </font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Board Matters</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:130%;padding-bottom:16px;text-align:justify;text-indent:144px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#010000;">(i) </font><font style="font-family:inherit;font-size:10pt;">Immediately following the execution of this Agreement, the Board and all applicable committees of the Board shall take all necessary actions to increase the size of the Board from nine to 11 directors and appoint Kirt P. Karros and Marc Zenner (each of Messrs. Karros and Zenner, a &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">New Director</font><font style="font-