SEC Contract Filing

Filing Date: 2021-09-17

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>tm2127408d4_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exhibit 10.1</B></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">[<I>Dealer</I>]</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">[__________]</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">[__________]</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">[__________]</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">[__________]</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 0pt 4.5in">[______], 2021</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">To: Porch Group,&nbsp;Inc.<BR>
2200 1st Avenue S., Suite&nbsp;300<BR>
Seattle, WA 98134&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left">Attention:</TD><TD STYLE="text-align: justify">General Counsel and Secretary</TD>
</TR></TABLE>

<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">Re: [Base][Additional] Call Option Transaction</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">The purpose of this letter
agreement (this &ldquo;<B>Confirmation</B>&rdquo;) is to confirm the terms and conditions of the call option transaction entered into
between [<I>Dealer</I>] (&ldquo;<B>Dealer</B>&rdquo;) and Porch Group,&nbsp;Inc. (&ldquo;<B>Counterparty</B>&rdquo;) as of the Trade Date
specified below (the &ldquo;<B>Transaction</B>&rdquo;). This letter agreement constitutes a &ldquo;Confirmation&rdquo; as referred to
in the ISDA Master Agreement specified below. Each party further agrees that this Confirmation together with the Agreement (as defined
below) evidence a complete binding agreement between Counterparty and Dealer as to the subject matter and terms of the Transaction to
which this Confirmation relates, and shall supersede all prior or contemporaneous written or oral communications with respect thereto.</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">The definitions and provisions
contained in the 2002 ISDA Equity Derivatives Definitions (the &ldquo;<B>Equity Definitions</B>&rdquo;), as published by the International
Swaps and Derivatives Association,&nbsp;Inc. (&ldquo;<B>ISDA</B>&rdquo;) are incorporated into this Confirmation. In the event of any
inconsistency between the Equity Definitions and this Confirmation, this Confirmation shall govern. Certain defined terms used herein
are based on terms that are defined in the Offering Memorandum dated September&nbsp;13, 2021 (the &ldquo;<B>Offering Memorandum</B>&rdquo;)
relating to the 0.75% Convertible Senior Notes due 2026 (as originally issued by Counterparty, the &ldquo;<B>Convertible Notes</B>&rdquo;
and each USD 1,000 principal amount of Convertible Notes, a &ldquo;<B>Convertible Note</B>&rdquo;) issued by Counterparty in an aggregate
initial principal amount of USD 385,000,000 (as increased by [up to]<SUP>1</SUP> an aggregate principal amount of USD 40,000,000 [if
and to the extent that]<SUP>2 </SUP>[pursuant to the exercise by]<SUP>3</SUP> the Initial Purchasers (as defined herein) [exercise]<SUP>4</SUP>[of]<SUP>5
</SUP>their option to purchase additional Convertible Notes pursuant to the Purchase Agreement (as defined herein)) pursuant to an Indenture
[to be]<SUP>6</SUP> dated September&nbsp;16, 2021 between Counterparty and U.S. Bank National Association, as trustee (the &ldquo;<B>Indenture</B>&rdquo;).
In the event of any inconsistency between the terms defined in the Offering Memorandum, the Indenture and this Confirmation, this Confirmation
shall govern. The parties acknowledge that this Confirmation is entered into on the date hereof with the understanding that (i)&nbsp;definitions
set forth in the Indenture that are also defined herein by reference to the Indenture and (ii)&nbsp;sections of the Indenture that are
referred to herein will conform to the descriptions thereof in the Offering Memorandum. If any such definitions in the Indenture or any
such sections of the Indenture differ from the descriptions thereof in the Offering Memorandum, the descriptions thereof in the Offering
Memorandum will govern for purposes of this Confirmation. The parties further acknowledge that the Indenture section numbers used herein
are based on the [draft of the Indenture last reviewed by Dealer as of the date of this Confirmation, and if any such section numbers
are changed in the Indenture as executed, the parties will amend this Confirmation in good faith to preserve the intent of the parties]<SUP>7</SUP>[Indenture
as executed]<SU