SEC Contract Filing

Filing Date: 2018-02-14

Document Content:
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>6
<FILENAME>d539539dex104.htm
<DESCRIPTION>EX-10.4
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.4</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.4 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>EXECUTION VERSION </B></P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>KKR
WAND HOLDINGS CORPORATION </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>9 West 57th Street, Suite 4200 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>New York, NY 10019 </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">February&nbsp;12, 2018 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">WMIH Corp. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">800 Fifth Avenue, Suite 4100 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Seattle, Washington 98104 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Re: <U>Warrant Exchange </U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and
Gentlemen: </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. This letter agreement is made as of February&nbsp;12, 2018, by and between KKR Wand Holdings Corporation, a Cayman Islands
exempted company (the &#147;<U>Warrantholder</U>&#148;), and WMIH Corp., a Delaware corporation (the &#147;<U>Company</U>&#148;), and shall be effective as of the consummation of the merger contemplated by the Merger Agreement (as defined below)
(the &#147;<U>Closing</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. Reference is made to the Agreement and Plan of Merger (the &#147;<U>Merger Agreement</U>&#148;)
entered into by the Company and Wand Merger Corporation (&#145;<U>Merger Sub</U>&#148;) with [Eclipse], a Delaware corporation, on the date hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. As of the date hereof, the Warrantholder holds warrants to purchase, in the aggregate, 61,400,000 shares of common stock of the Company,
par value $0.00001 per share (the &#147;<U>Common Stock</U>&#148; and such warrants to purchase the Common Stock, the &#147;<U>Warrants</U>&#148;). Capitalized terms not defined herein shall have the meaning given to such terms in the Warrants. For
the avoidance of doubt, it is hereby agreed and understood that, following the exchange of the Warrants for the Warrant Shares as contemplated herein, the Warrants shall be void and of no effect and no Warrants shall be deemed issued or outstanding.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. In contemplation of the entry into the Merger Agreement by the Company and the Closing, the Company and the Warrantholder hereby agree
as follows: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">a.</TD>
<TD ALIGN="left" VALIGN="top">At the Effective Time (as defined in the Merger Agreement) and subject to the conditions to the Closing contained in the Merger Agreement, the Company shall exchange the Warrants for 21,197,619 validly issued, fully
paid and <FONT STYLE="white-space:nowrap">non-assessable</FONT> shares of Common Stock (the &#147;<U>Warrant Shares</U>&#148;). </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">b.</TD>
<TD ALIGN="left" VALIGN="top">At the Effective Time and subject to the conditions to the Closing contained in the Merger Agreement, the Company shall effect the exchange by issuing and delivering the Warrant Shares to the Warrantholder, registered
in the name of the Warrantholder, and the Warrantholder shall deliver, or cause to be delivered, to the Company the warrant certificate(s) representing the Warrants, duly endorsed for assignment to the Company. </TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">c.</TD>
<TD ALIGN="left" VALIGN="top">The Company and the Warrantholder agree to cooperate with each other and their respective officers, employees, attorneys, accountants and other agents, and, generally, do such other reasonable acts and things in good
faith as may be necessary to effectuate the intents and purposes of this letter agreement, subject to the terms and conditions hereof and compliance with applicable law, including taking reasonable action to facilitate the filing of any document or
the taking of reasonable action to assist the other parties hereto in complying with the terms hereof. </TD></TR></TABLE> <P STYLE