SEC Contract Filing

Filing Date: 2020-11-03

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>6
<FILENAME>tm2034867d1_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><U>Exhibit 10.1</U></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">October 29, 2020</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CONX Corp.<BR>
5701 S. Santa Fe Dr.<BR>
Littleton, CO 80120</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">Re:</TD><TD><U>Initial Public Offering</U></TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This letter (this &ldquo;<B><I>Letter
Agreement</I></B>&rdquo;) is being delivered to you in accordance with the Underwriting Agreement (the &ldquo;<B><I>Underwriting
Agreement</I></B>&rdquo;) entered into by and among CONX Corp., a Nevada corporation (the &ldquo;<B><I>Company</I></B>&rdquo;),
and Deutsche Bank Securities Inc. (the &ldquo;<B><I>Underwriter</I></B>&rdquo;), relating to an underwritten initial public offering
(the &ldquo;<B><I>Public Offering</I></B>&rdquo;), of up to 86,250,000 of the Company&rsquo;s units (including up to 11,250,000
units that may be purchased to cover over-allotments, if any) (the &ldquo;<B><I>Units</I></B>&rdquo;), each comprised of one share
of the Company&rsquo;s Class A common stock, par value $0.0001 per share (the &ldquo;<B><I>Class A Common Stock</I></B>&rdquo;),
and one-fourth of one redeemable warrant. Each whole warrant (each, a &ldquo;<B><I>Warrant</I></B>&rdquo;) entitles the holder
thereof to purchase one share of Class A Common Stock at a price of $11.50 per share, subject to adjustment as described in the
Prospectus (as defined below). The Units will be sold in the Public Offering pursuant to a registration statement on Form S-1 and
prospectus (the &ldquo;<B><I>Prospectus</I></B>&rdquo;) filed by the Company with the U.S. Securities and Exchange Commission (the
 &ldquo;<B><I>Commission</I></B>&rdquo;) and the Company has applied to have the Units listed on The Nasdaq Capital Market. Certain
capitalized terms used herein are defined in paragraph&nbsp;11 hereof.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In order to induce
the Company and the Underwriter to enter into the Underwriting Agreement and to proceed with the Public Offering and for other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each of nXgen Opportunities, LLC
(the &ldquo;<B><I>Sponsor</I></B>&rdquo;) and the undersigned parties, each of whom is a member of the Company&rsquo;s board of
directors and/or management team (each of the undersigned parties other than the Sponsor, an &ldquo;<B><I>Insider</I></B>&rdquo;
and collectively, the &ldquo;<B><I>Insiders</I></B>&rdquo;), hereby agrees with the Company as follows:</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">The Sponsor and each Insider agrees that if the Company seeks stockholder approval of a proposed
Business Combination, then in connection with such proposed Business Combination, it, he or she shall (i) vote any shares of Common
Stock (as defined below) owned by it, him or her in favor of any proposed Business Combination and (ii) not redeem any shares of
Common Stock owned by it, him or her in connection with such stockholder approval. If the Company seeks to consummate a proposed
Business Combination by engaging in a tender offer, the Sponsor and each Insider agrees that it, he or she will not sell or tender
any shares of Common Stock owned by it, him or her in connection therewith.</TD></TR></TABLE>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">The Sponsor and each Insider hereby agrees that in the event that the Company fails to consummate
a Business Combination within 24 months from the closing of the Public Offering, or such later period approved by the Company&rsquo;s
stockholders in accordance with the Company&rsquo;s amended and restated articles of incorporation (as they may be amended from
time to time, the &ldquo;<B><I>Charter</I></B>&rdquo;), the Sponsor and each Insider shall take all reasonable steps to cause the
Company to (i) cease all operations except fo