SEC Contract Filing

Filing Date: 2021-06-23

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>7
<FILENAME>tm2120481d1_ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt"><B>Exhibit 10.3</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>TRADEMARK LICENSE AGREEMENT</U></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; text-align: center"><B>June&nbsp;16, 2021</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The parties to this Trademark
License Agreement (the &ldquo;<U>Agreement</U>&rdquo;) are:</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD STYLE="text-align: justify"><B>Angel Oak Companies, LP f/k/a Angel Oak Companies LLC</B>, a Delaware limited partnership with a principal
place of business at 3344 Peachtree Road NE, Suite&nbsp;1725, Atlanta, GA 30326 (&ldquo;<U>Angel Oak</U>&rdquo;); and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD STYLE="text-align: justify"><B>Angel Oak Mortgage,&nbsp;Inc.</B>, a Maryland corporation with a principal place of business at 3344
Peachtree Road NE, Suite&nbsp;1725, Atlanta, GA 30326 (&ldquo;<U>Licensee</U>&rdquo;).</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Angel Oak and Licensee may be referred to individually
as a &ldquo;<U>Party</U>&rdquo; or collectively as the &ldquo;<U>Parties</U>.&rdquo;</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 Agreement is effective
as of the date first written above (the &ldquo;<U>Effective Date</U>&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>WHEREAS</B></FONT>,
Angel Oak is the owner of all rights in and to the ANGEL OAK word and design marks, both standing alone and in combination with other
terms and/or design elements (the &ldquo;<U>Angel Oak Marks</U>&rdquo;), which it has used continuously in United States commerce since
at least as early as 2014 in connection with mortgage banking services, namely, origination, acquisition, servicing, securitization and
brokerage of mortgage loans; and strategic financial advisory services; and/or a logo consisting of a circle containing a stylized image
of an oak tree with white branches extending up and out from either side of a white trunk surrounded by various geometric shapes in light
blue and darker blue representing leaves.</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"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>WHEREAS</B></FONT>,
in addition to its strong common law rights in the Angel Oak Marks, Angel Oak is the owner of U.S. Trademark and Service Mark Registration
Nos. 5,518,322 and 5,508,482;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOW
THEREFORE</B></FONT>, in consideration of the representations, promises, and covenants set forth in this Agreement, and for other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Definitions</U>.
In addition to the definitions set forth elsewhere in this Agreement, the following definitions shall apply to this Agreement:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">&ldquo;<U>Affiliate</U>&rdquo;
shall have the meaning specified in Rule&nbsp;501(b)&nbsp;under the Securities Act of 1933, as amended.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times,