MEMBER SUPPORT AGREEMENT
Exhibit 10.1
This Member Support Agreement (this “Agreement”) is made as of October 24, 2023, by and among (i) Learn CW Investment Corporation, a Cayman Islands exempted company with limited liability (“Parent”), Learn SPAC Holdco, Inc. (“Holdco”), a Delaware corporation and a wholly owned subsidiary of Parent, (iii) Innventure LLC, a Delaware limited liability company (the “Company”), and (iv) the undersigned Company Members (the “Company Members” and each a “Company Member”).
WHEREAS, contemporaneously with the execution and delivery of this Agreement, Parent, Holdco and the Company, and the other persons party thereto, have entered into a Business Combination Agreement (as amended or modified from time to time, the “Transaction Agreement”), whereby the parties intend to effect a business combination among Parent, Holdco and the Company and , on the terms and subject to the conditions set forth therein (collectively, the “Transactions”) (capitalized terms used but not defined herein shall have the respective meanings set forth in the Transaction Agreement).
NOW, THEREFORE, in order to induce Parent and Holdco to enter into the Transaction Agreement and for other good and valuable consideration, the receipt, sufficiency and adequacy of which are hereby acknowledged, the parties hereto agree as follows:
1. Definitions. As used herein, the term “Voting Units” shall mean all securities of the Company beneficially owned (as such term is defined in Rule 13d-3 under the Exchange Act, excluding membership interests underlying unexercised options or warrants, but including any membership interests acquired upon exercise of such options or warrants) (“Beneficially Owned”) by any Company Member, including any and all securities of the Company acquired and held in such capacity subsequent to the date hereof. Capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Transaction Agreement.
2. Representations and Warranties of the Company Members. Each Company Member on its own behalf only hereby represents and warrants to the other parties hereto, severally and not jointly, with respect to such Company Member (and not as to any other Person) and such Company Member’s ownership of its Voting Units:
(a) Authority. If Company Member is a legal entity, Company Member is an entity duly organized, validly existing and in good standing (where applicable) under the Laws of the jurisdiction in which it is incorporated, organized or constituted, and has all requisite power and authority to enter into this Agreement, to perform fully Company Member’s obligations hereunder and to consummate the transactions contemplated hereby. If Company Member is a natural person, Company Member has the legal capacity to enter into this Agreement. If Company Member is a legal entity, this Agreement has been duly authorized, executed and delivered by Company Member. This Agreement constitutes a valid and binding obligation of Company Member enforceable in accordance with its terms, except as enforcement may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar Laws affecting creditors’ rights generally and by general principles of equity (regardless of whether considered in a proceeding in equity or at law).
(b) No Consent. No consent, approval or authorization of, or designation, declaration or filing with, any Governmental Authority or other Person on the part of Company Member is required in connection with the execution, delivery and performance of this Agreement, that would reasonably be expected to prevent or delay the consummation of the Transactions or that would reasonably be expected to prevent or materially delay Company Member from fulfilling its obligations under this Agreement. If Company Member is a natural person, no consent of such Company Member’s spouse is necessary under any “community property” or other Laws for the execution and delivery of this Agreement or the consummation of the transactions contemplated hereby. If Company Member is a trust, no consent of any beneficiary is required for the execution and delivery of this Agreement or the consummation of the transactions contemplated hereby.
(c) No Conflicts. Neither the execution and delivery of this Agreement, nor the consummation of the transactions contemplated hereby, nor compliance with the terms hereof, will violate, conflict with or result in a breach of, or constitute a default (with or without notice or lapse of time or both) under any provision of, Company Member’s organizational documents, any trust agreement, loan or credit agreement, note, bond, mortgage, indenture, lease or other agreement, instrument, permit, concession, franchise, license, judgment, order, notice, decree, statute, Law, ordinance, rule or regulation applicable to Company Member or to Company Member’s property or assets (including the Voting Units) that would reasonably be expected to prevent or delay the consummation of the Transactions or that would reasonably be expected to prevent Company Member from fulfilling its obligations under this Agreement.
(d) Ownership of Membership Interests. Company Member (i) Beneficially Owns all of the Voting Units free and clear of all Liens (ii) has the sole power to vote or caused to be voted its Voting Units and the sole power of disposition and sole power to agree to all of the matters set forth in this Agreement, in each case, with respect to all of its Voting Units, other than pursuant to the Company Affiliate Agreements or any restrictions on transfer arising under applicable securities Laws. Except pursuant hereto and pursuant to that certain Fifth Amended and Restated Limited Liability Company Agreement of the Company, effective as of April 27, 2022, by and among the Company, Innventure1 LLC, a Delaware limited liability company, WE-INN LLC, an Illinois limited liability company and certain other members of the Company party thereto, as may be amended and amended and restated, from time to time, and any other similar agreements or side letters between the Company and Company Members relating to management rights, board observer rights or similar arrangements, the “Company Affiliate Agreements”), there are no options, warrants or other rights, agreements, arrangements or commitments of any character to which Company Member is a party relating to the pledge, acquisition, disposition, transfer or voting of Voting Units prior to the consummation of the Transactions and there are no voting trusts or voting agreements with respect to the Voting Units. Company Member does not Beneficially Own (i) any Voting Units other than the Voting Units set forth on Annex A or (ii) any options, warrants or other rights to acquire any additional Voting Units or any security exercisable for or convertible into Voting Units, other than as set forth on Annex A.
(e) No Litigation. There is no Action pending against, or, to the knowledge of Company Member, threatened against, Company Member that would reasonably be expected, individually or in the aggregate, to materially impair or materially adversely affect the ability of Company Member to perform Company Member’s obligations hereunder or to consummate the transactions contemplated by this Agreement. None of Company Member or any of its Affiliates is subject to any injunction, order, decree or ruling enacted, issued, promulgated, enforced or entered into by any Governmental Authority that would reasonably be expected, individually or in the aggregate, to materially impair or materially adversely affect the ability of Company Member to perform Company Member’s obligations hereunder or to consummate the transactions contemplated by this Agreement.
3. Agreement to Vote Membership Interests; Irrevocable Proxy; Further Assurances.
(a) Each Company Member irrevocably and unconditionally agrees that it shall, and shall cause any other holder of record of any of such Company Member’s Voting Units to, validly execute and deliver to the Company, as promptly as reasonably practicable after the Registration Statement becomes effective, and in any event within seventy-two (72) hours after the Registration Statement becomes effective, an irrevocable Written Consent in the form proposed by the Company in respect of all of such Company Member’s Voting Units. In addition, each Company Member irrevocably and unconditionally agrees that at any duly called meeting of the Company Members (or any adjournment or postponement thereof), and in any action by written consent of the Company Members requested by the Company’s board of managers or undertaken as contemplated by the Transactions, each Company Member shall, if a meeting is held, appear at the meeting, in person or by proxy, or otherwise cause its Voting Units to be counted as present thereat for purposes of establishing a quorum, and each Company Member shall vote or consent (or cause to be voted or consented), in person or by proxy, all of such Voting Units (i) in favor of the adoption of the Transaction Agreement and approval of the Transactions (and any actions required in furtherance thereof), (ii) against any action, proposal, transaction or agreement that would result in a breach in any respect of any representation, warranty, covenant, obligation or agreement of the Company contained in the Transaction Agreement, (iii) in favor of any proposal to adjourn or postpone such meeting of the Company to a later date if there are not sufficient votes to approve the Transactions, (iv) in favor of the conversion of the Company Units into the right to receive the Holdco Common Stock contingent upon the consummation of the Transactions, (v) in favor of the termination of the Company Affiliate Agreements, immediately prior to, and contingent upon, the consummation of the Transactions and (vi) against the following actions or proposals: (A) any proposal in opposition to approval of the Transaction Agreement or in competition with or materially inconsistent with the Transaction Agreement or (B) any other action or proposal involving the Company or any of its subsidiaries that is intended, or would reasonably be expected, to prevent, impede, interfere with, delay, postpone or adversely affect the Transactions in any material respect or would reasonably be expected to result in any of the Company’s closing conditions or obligations under the Transaction Agreement not being satisfied. Each Company Member agrees not to, and shall cause its Affiliates not to, enter into any agreement, commitment or arrangement with any person, the effect of which would be inconsistent with or violative of the provisions and agreements contained in this Section 3(a).
(b) Each of the Company Members hereby appoints Parent, as its proxy and attorney-in-fact, with full power of substitution and resubstitution, to vote or act by written consent during the term of this Agreement with respect to the Voting Units in accordance with Section 3(a) (but only to matters and proposals relating thereto). This proxy and power of attorney is given to secure the performance of the duties of Company Member under this Agreement. Each Company Member shall take such further action or execute such other instruments as may be necessary to effectuate the intent of this proxy. This proxy and power of attorney granted by Company Member shall be irrevocable during the term of this Agreement, shall be deemed to be coupled with an interest sufficient in law to support an irrevocable proxy and shall revoke any and all prior proxies granted by Company Member with respect to the Voting Units (but only with respect to the matters and proposals set forth in Section 3(a)). The power of attorney granted by Company Member herein is a durable power of attorney and shall survive the dissolution, bankruptcy, death or incapacity of Company Member. The proxy and power of attorney granted hereunder shall terminate upon the termination of this Agreement.
(c) From time to time, at the request of the Company, each Company Member shall take all such further actions, as may be necessary or appropriate to, in the most expeditious manner reasonably practicable, effect the purposes of this Agreement, and execute customary documents incident to the consummation of the Transactions.
4. No Voting Trusts or Other Arrangement. Each Company Member agrees that during the term of this Agreement Company Member will not, and will not permit any entity under Company Member’s control to, deposit any Voting Units in a voting trust, grant any proxies with respect to the Voting Units or subject any of the Voting Units to any arrangement with respect to the voting of the Voting Units. Each Company Member hereby revokes any and all previous proxies and attorneys in fact with respect to the Voting Units.
5. Transfer and Encumbrance. Each Company Member agrees that during the term of this Agreement, absent the advance written consent of Parent, Company Member will not, directly or indirectly, Transfer any of his, her or its Voting Units or enter into any contract, option or other agreement with respect to, or consent to, a Transfer of, any of his, her or its Voting Units or Company Member’s voting or economic interest therein. Any attempted Transfer of Voting Units or any interest therein in violation of this Section 5 shall be null and void. This Section 5 shall not prohibit a Transfer of Voting Units by any Company Member (a) to any other Company Member who is a signatory hereto, (b) in the case of an individual, (i) by gift to any person related to the Company Member by blood, marriage, or domestic relationship (“immediate family”), a charitable organization or a trust or other entity formed for estate planning purposes for the benefit of an immediate family member, (ii) by will, intestacy or by virtue of laws of descent and distribution upon the death of such individual, or (iii) pursuant to a qualified domestic relations order, (c) in the case of a corporation, limited liability company, partnership, trust or other entity, to any stockholder, member, partner or trust beneficiary as part of a distribution, or to any corporation, partnership or other entity that is an affiliate (as defined in Rule 405 of the Securities Act of 1933, as amended) of the Company Member, (d) in the event of a liquidation, merger, stock or unit exchange or other similar transaction which results in all of the Company Members having the right to exchange their shares of common stock for cash, securities or other property, or (e) to the Company in connection with the “net” or “cashless” exercise of options or other rights to purchase shares of common stock held by such Company Member in satisfaction of any tax withholding or exercise price obligations through cashless surrender or otherwise (each, a “Permitted Transferee”), provided that any shares of common stock issued upon exercise of such option or other rights shall remain subject to the terms of this Section 5; provided, however, that, in the case of clauses (b) and (c), such transferees shall enter into a written agreement with the Company agreeing to be bound by the transfer restrictions set forth herein; and provided, further, with respect to clauses (b) and (c), that any such transfer shall not involve a disposition for value. For purposes of this Agreement, “Transfer” means the (1) sale or assignment of, offer to sell, contract or agreement to sell, gift, hypothecate, pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Exchange Act with respect to, any security, (2) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (3) public announcement of any intention to effect any transaction specified in clause (1) or (2).
6. Appraisal and Dissenters’ Rights. Each Company Member hereby (a) waives, and agrees not to assert or perfect, any rights of appraisal or rights to dissent from the Transactions that Company Member may have by virtue of ownership of the Voting Units and (b) agrees not to commence or participate in any claim, derivative or otherwise, against the Company relating to the negotiation, execution or delivery of this Agreement or the Transaction Agreement or the consummation of the Transactions, including any claim (i) challenging the validity of, or seeking to enjoin the operation of, any provision of this Agreement or (ii) alleging a breach of any fiduciary duty of the Board of managers of the Company in connection with this Agreement, the Transaction Agreement or the Transactions.
7. Lock-Up.
(a) Subject to and contingent upon the consummation of the Transactions, the Company Members may not Transfer any shares of common stock received by the Company Members as consideration in the Transactions (“Lock-up Shares”) until the end of the period beginning on the closing date of the Transactions and ending on the date of the opening of the first trading window at least 180 days after the closing date of the Transactions (the “Lock-up Period”). The Lock-up Shares shall carry appropriate legends indicating the restrictions on Transfer imposed by this Section 7, including as required by Section 151(f) of the DGCL in respect to uncertificated stock.
(b) Notwithstanding the provisions set forth in Section 7(a), the Company Members or their respective Permitted Transferees may Transfer the Lock-up Shares during the Lock-up Period to any Permitted Transferee (with such definition applying mutatis mutandis to the Lock-up Shares as if set forth fully herein), provided that any shares of common stock issued upon exercise of option or other rights pursuant to clause (e) of the definition of Permitted Transferee shall remain subject to the terms of this Section 7; provided, however, that, in the case of clauses (b) and (c) of the definition of Permitted Transferee, such transferees shall enter into a written agreement with Holdco agreeing to be bound by the transfer restrictions set forth herein; and provided, further, with respect to clauses (b) and (c) of the definition of Permitted Transferee, that any such transfer shall not involve a disposition for value.
8. Redemption Rights. Each Company Member agrees not to exercise any right to redeem any of Company Member’s Voting Units Beneficially Owned as of the date hereof or acquired and held in such capacity subsequent to the date hereof.
9. Termination. This Agreement shall automatically terminate upon the earliest to occur of (a) the Effective Time and (b) the date on which the Transaction Agreement is terminated in accordance with its terms; provided, that, in the event the Transactions are consummated, the obligations of the Company Members with respect to the Lock-up Shares shall survive any termination of this Agreement until the expiration of the Lock-up Period. Upon termination of this Agreement, no party shall have any further obligations or liabilities under this Agreement; provided, that nothing in this Section 9 shall relieve any party of liability for any willful breach of this Agreement occurring prior to termination.
10. No Agreement as Manager or Officer. Each Company Member is signing this Agreement solely in its capacity as a Company Member, as applicable. No Company Member makes any agreement or understanding in this Agreement in such Company Member’s capacity (or in the capacity of any Affiliate, partner or employee of Company Member) as a manager or officer of the Company (if Company Member holds such office). Nothing in this Agreement will limit or affect any actions or omissions taken by a Company Member in his, her or its capacity as a manager or officer of the Company, and no actions or omissions taken in any Company Member’s capacity as a manager or officer shall be deemed a breach of this Agreement. Nothing in this Agreement will be construed to prohibit, limit or restrict a Company Member from exercising his or her fiduciary duties as an officer or manager to the Company or the Company Members, as applicable.
11. Specific Enforcement. Monetary damages would not adequately compensate an injured party for the breach of this Agreement by any party hereto and, accordingly, this Agreement shall be specifically enforceable, in addition to any other remedy to which such injured party is entitled at law or in equity, and any breach of this Agreement shall be the proper subject of a temporary or permanent injunction or restraining order. Further, each party hereto waives any claim or defense that there is an adequate remedy at law for such breach or threatened breach or an award of specific performance is not an appropriate remedy for any reason at law or equity and agrees that a party’s rights would be materially and adversely affected if the obligations of the other parties under this Agreement were not carried out in accordance with the terms and conditions hereof.
12. Entire Agreement. This Agreement and the Transaction Agreement supersede all prior agreements, written or oral, among the parties hereto with respect to the subject matter hereof and contain the entire agreement among the parties with respect to the subject matter hereof. Any provision of this Agreement may be amended or waived if, but only if, such amendment or waiver is in writing and is signed, in the case of an amendment, by each party to this Agreement, or, in the case of a waiver, by the party against whom the waiver is to be effective. No waiver of any provisions hereof by either party shall be deemed a waiver of any other provisions hereof by such party, nor shall any such waiver be deemed a continuing waiver of any provision hereof by such party.
13. Notices. All notices, requests, claims, demands, and other communications hereunder shall be in writing and shall be deemed to have been given (a) when delivered by hand (with written confirmation of receipt), (b) when received by the addressee if sent by a nationally recognized overnight courier (receipt requested), (c) on the date sent by e-mail of a PDF document (provided, that no “error” message or other notification of non-delivery or non-receipt is generated) if sent during normal business hours of the recipient, and on the next Business Day if sent after normal business hours of the recipient, or (d) on the next Business Day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid. Such communications must be sent to the respective parties at the addresses set forth in the Transaction Agreement, with respect to Parent and the Company, and at the addresses set forth on Annex A with respect to the Company Members (or at such other address for a party as shall be specified in a notice given in accordance with this Section 13).
14. Miscellaneous.
(a) Governing Law. This Agreement, the rights and duties of the parties hereto, and any disputes (whether in contract, tort or statute) arising out of, under or in connection with this Agreement will be governed by and construed and enforced in accordance with the Laws of the State of Delaware, without giving effect to its principles or rules of conflict of Laws to the extent such principles or rules would require or permit the application of the Laws of another jurisdiction. The parties hereto irrevocably and unconditionally submit to the exclusive jurisdiction of the United States District Court for the District of Delaware or, if such court does not have jurisdiction, the Delaware state courts located in Wilmington, Delaware, in any action arising out of or relating to this Agreement. The parties hereto irrevocably agree that all such claims shall be heard and determined in such a Delaware federal or state court, and that such jurisdiction of such courts with respect thereto will be exclusive. Each party hereto hereby waives, and agrees not to assert, as a defense in any action, suit or proceeding arising out of or relating to this Agreement that it is not subject to such jurisdiction, or that such action, suit or proceeding may not be brought or is not maintainable in such courts or that the venue thereof may not be appropriate or that this Agreement may not be enforced in or by such courts. The parties hereto hereby consent to and grant any such court jurisdiction over the person of such parties and over the subject matter of any such dispute and agree that mailing of process or other papers in connection with any such action, suit or proceeding in the manner provided in Section 13 or in such other manner as may be permitted by Law, will be valid and sufficient service thereof.
(b) Waiver of Jury Trial. To the extent not prohibited by applicable Law that cannot be waived, each of the parties hereto irrevocably waives any right it may have to trial by jury in respect of any litigation based on, arising out of, under or in connection with this Agreement, including but not limited to any course of conduct, course of dealing, oral or written statement or action of any party hereto.
(c) Severability. The invalidity of any portion hereof shall not affect the validity, force or effect of the remaining portions hereof. If it is ever held that any restriction hereunder is too broad to permit enforcement of such restriction to its fullest extent, such restriction shall be enforced to the maximum extent permitted by Law.
(d) Counterparts. This Agreement may be executed in two or more counterparts for the convenience of the parties hereto, each of which shall be deemed an original and all of which together will constitute one and the same instrument. Delivery of an executed counterpart of a signature page to this Agreement by electronic, facsimile or portable document format shall be effective as delivery of a mutually executed counterpart to this Agreement.
(e) Titles and Headings. The titles, captions and table of contents in this Agreement are for reference purposes only, and shall not in any way define, limit, extend or describe the scope of this Agreement or otherwise affect the meaning or interpretation of this Agreement.
(f) Assignment; Successors and Assigns; No Third Party Rights. Except as otherwise provided herein, this Agreement may not, without the prior written consent of the other parties hereto, be assigned by operation of law or otherwise, and any attempted assignment shall be null and void. Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, successors, permitted assigns and legal representatives, and nothing herein, express or implied, is intended to or shall confer upon any other Person any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.
(g) Further Assurances. Each party hereto shall execute and deliver such additional documents as may be necessary or desirable to effect the transactions contemplated by this Agreement.
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IN WITNESS WHEREOF, the parties hereto have executed and delivered this Member Support Agreement as of the date first written above.
| PARENT: | |||
| LEARN CW INVESTMENT CORPORATION | |||
| By: | /s/ Xxxxxx Xxxxxx | ||
| Name: | Xxxxxx Xxxxxx | ||
| Title: | Chief Executive Officer | ||
| HOLDCO: | |||
| LEARN SPAC Holdco, INC.. | |||
| By: | /s/ Xxxxxx Xxxxxx | ||
| Name: Xxxxxx Xxxxxx | |||
| Title: President | |||
[Signature Page to Member Support Agreement]
IN WITNESS WHEREOF, the parties hereto have executed and delivered this Member Support Agreement as of the date first written above.
| COMPANY: | |||
| INNVENTURE LLC | |||
| By: | /s/ Xxxxx Xxxxxxxxxx | ||
| Name: | Xxxxx Xxxxxxxxxx | ||
| Title: | Managing Partner and CFO | ||
[Signature Page to Member Support Agreement]
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XXXXX XXXXXX
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By:
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/s/ Xxxxx Xxxxxx | |
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ALTOIRA CUSTODIAN FBO XXXXXXXXXXX XXXXXX SEP IRA
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By:
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/s/ Xxxxxxxxxxx Xxxxxx | |
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XXXXX XXXXXXXX HOLDING USA INC
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By:
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/s/ Xxxx Xxxxxxxx | |
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Name: Xxxx Xxxxxxxx
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Title: President
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XXXXX XXXXXX
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By:
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/s/ Xxxxx Xxxxx Xxxxxx | |
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ASCENT X INNVENTURE TC, A SERIES OF ASCENT X INNVENTURE, LP
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By:
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/s/ Xxxxxxxx Xxxxxxxx | |
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Name: Xxxxxxxx Xxxxxxxx
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Title: Authorized Signatory
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XXXXXXXX XXXXXXXX
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By:
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/s/ Xxxxxxxx XxXxxxxx | |
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XXXXXXXX XXXXXX
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By:
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/s/ Xxxxxxxx Xxxxxx | |
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CDS DELAWARE HOLDINGS LLC
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By:
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/s/ Xxxxxxxxxxx Xxxxx | |
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Name: Xxxxxxxxxxx Xxxxx
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Title: Managing Member
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XXXX XXXXXX
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By:
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/s/ Xxxx Xxxxxx | |
[Signature Page to Member Support Agreement]
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XXXXXXXXX & XXXXXXX XXX XXXXXXX, JT TEN
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By:
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/s/ Xxxxxxxxx Xxxxxxx | |
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XXXXXXXXXXX XXXXXX
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By:
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/s/ Xxxxxxxxxxx Xxxxxx | |
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CNB CUSTODY IRA FBO XXXXX XXXXXX ACCT #8469065
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By:
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/s/ Xxxxx Xxxxxx |
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Name: Xxxxx Xxxxxx
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XXXXX XXXXX
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By:
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/s/ Xxxxx Xxxxx |
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COMMUNITY NATIONAL BANK CUSTODIAN FBO XXXXXX X. XXXXX XXX ACCT # 3069176
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By:
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/s/ Xxx Xxxxx |
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Name: Xxx Xxxxx
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Title: Owner
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COMMUNITY NATIONAL BANK CUSTODIAN FBO XXXXXXXX X. XXXXX XXX ACCT # 3069184
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By:
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/s/ Xxxxxxxx X. Xxxxx |
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Name: Xxxxxxxx X. Xxxxx
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Title: Owner
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XXXXXX'X XXXXXX WARFARE LLC
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By:
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/s/ Xxxx Xxxxxx |
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Name: Xxxx Xxxxxx
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Title: Manager
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XXXXX X. XXXXXXXXX
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By:
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/s/ Xxxxx X. Xxxxxxxxx |
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NUVIEW TRUST CO. CUSTODIAN FBO XXXX XXXXXXX IRA
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By:
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/s/ Xxxx Xxxxxxx |
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Name: Xxxx Xxxxxxx
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Title: Trustee
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[Signature Page to Member Support Agreement]
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XXXXXX X. XXXXXX REVOCABLE TRUST AND XXXX X. XXXXXX REVOCABLE TRUST
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By:
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/s/ Xxxxxx Xxxxxx |
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Name: Xxxxxx Xxxxxx
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Title: Trustee
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XXXXX XXXXXXXXX
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By:
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/s/ Xxxxx Xxxxxxxxx |
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DNA INVESTORS LLC
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By:
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/s/ Xxxxxxx Xxxxx Xxxxxxx |
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Name: Xxxxxxx Xxxxx Xxxxxxx
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Title: Managing Director
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FLIGHT DECK PROPERTIES LLC
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By:
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/s/ Xxxxxxx Xxxxxxxx |
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Name: Xxxxxxx Xxxxxxxx
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Title: Owner principal
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XXXXX XXXXXX
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By:
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/s/ Xxxxx Xxxxxx |
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XXXXXXX XXXXXX
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By:
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/s/ Xxxxxxx Xxxxxx |
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[Signature Page to Member Support Agreement]
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XXXX X. XXXXXX REVOCABLE LIVING TRUST DTD MAY 22, 2002
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By:
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/s/ Xxxx X. Xxxxxx Revocable Living Trust |
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Name: Xxxx X. Xxxxxx
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Title: Trustee
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XXXXX XXXX
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By:
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/s/ Xxxxx Xxxx |
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XXXXXXX X. XXXXXXX AND XXXXXX X. XXXXXXX, AS TENANTS BY THE ENTIRETIES
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By:
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/s/ Xxxxxxx X. Xxxxxxx |
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XXXXXXX XXXXXXX
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By:
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/s/ Xxxxxxx Xxxxxxx |
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HOLLOW CORN DOG
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By:
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/s/ Xxxxxx Xxxx |
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Name: Xxxxxx Xxxx
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Title: Authorized Signatory
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INNVENTURE1 LLC
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| /s/ Xxxxxxx Xxxxxxx |
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Name: Xxxxxxx Xxxxxxx
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Title: Authorized Signatory
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XXXXX X. XXXXXX DECLARATION OF TRUST
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By:
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/s/ Xxxxx X. Xxxxxx | |
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Name: Xxxxx X. Xxxxxx
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Title: Trustee
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XXXX XXXXXXXX
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By:
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/s/ Xxxx Xxxxxxxx |
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XXXX XXXXX XXXXXXX DECLARATION OF TRUST DTD 09/12/2011, XXXX XXXXXXX, TEE
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By:
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/s/ Xxxx Xxxxx Xxxxxxx Declaration of Trust |
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Name: Xxxx Xxxxx Xxxxxxx Declaration of Trust
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Title: Trustee
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[Signature Page to Member Support Agreement]
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XXXXX XXXXXXXXXX
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By:
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/s/ Xxxxx Xxxxxxxxxx |
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XXXX XXXXX
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By:
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/s/ Xxxx Xxxxx |
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XXXXXXX XXXXXXX
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By:
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/s/ Xxxxxxx Xxxxxxx |
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[Signature Page to Member Support Agreement]
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XXXXX AND XXXXXXXXXX XXXXX
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By:
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/s/ Xxxxx Xxxxx |
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XXXXX XXXXXXXXX
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By:
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/s/ Xxxxx Xxxxxxxxx |
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XXXXXX XXXX-XXXXXX
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By:
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/s/ Xxxxxx Xxxx-Xxxxxx |
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XXXXXXXX X. XXXXXXX
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||
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By:
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/s/ Xxxxxxxx X. Xxxxxxx |
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XXXXXX XXXXXXXXX
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||
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/s/ Xxxxxx Xxxxxxxxx
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||
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LOUIS & XXXXXX XXXXXXXX
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||
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By:
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/s/ Xxxxx Xxxxxxxx | |
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XXXXX XXXXXX
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||
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By:
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/s/ Xxxxx Xxxxxx | |
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XXXXX CONSULTING CO, LLC
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||
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By:
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/s/ Xxxxxxx Xxxxx |
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Name: Xxxxxxx Xxxxx
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||
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Title: President
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||
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X. XXXXX XXXXXXX
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||
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By:
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/s/ X. Xxxxx Xxxxxxx |
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XXXXXXX XXX
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||
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By:
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/s/ Xxxxxxx Xxx |
|
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MCALPHA LLC
|
||
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By:
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/s/ Xxxxx XxXxxxxxx |
|
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Name: Xxxxx XxXxxxxxx
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||
|
Title: Manager
|
||
[Signature Page to Member Support Agreement]
|
XXXXXXX XXXXXXX
|
||
|
By:
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/s/ Xxxxxxx Xxxxxxx |
|
|
MIDLAND TRUST COMPANY AS CUSTODIAN CBO XXXXXX XXXXX #1708083
|
||
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By:
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/s/ Xxxxxx Xxxxx |
|
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Name: Xxxxxx Xxxxx
|
||
|
XXXXX XXXXXX
|
||
|
By:
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/s/ Xxxxx Xxxxxx |
|
|
Name: Xxxxx Xxxxxx
|
||
|
Title: Series B Member
|
||
|
XXXX XXXXXXX
|
||
|
By:
|
/s/ Xxxx Xxxxxxx |
|
|
NUVIEW TRUST CO. CUSTODIAN FBO XXXXX XXXXX XXXX ACCT # 1723643
|
||
|
By:
|
/s/ Nuview Trust Co. FBO Xxxxx Xxxxx XXX Xxxx Acct # 1723643 |
|
|
Name: Nuview Trust Co. FBO Xxxxx Xxxxx XXX Xxxx #1723643
|
||
|
Title: Beneficiary
|
||
|
XXXX XXXXXX
|
||
|
By:
|
/s/ Xxxx Xxxxxx |
|
|
XXXXXX XXXXXXXX
|
||
|
By:
|
/s/ Xxxxxx XxXxxxxx |
|
|
COMMUNITY NATIONAL BANK AS CUSTODIAN FBO: XXXXX XXXXXXXXX IRA #8271249
|
||
|
By:
|
/s/ Xxxxx X. Xxxxxxxxx |
|
|
Name: Xxxxx X. Xxxxxxxxx
|
||
|
Title: Owner
|
||
[Signature Page to Member Support Agreement]
|
XXXXXX XXXXXXX
|
||
|
By:
|
/s/ Xxxxxx Xxxxxxx |
|
|
XXXX AND XXXXX XXXXXX
|
||
|
By:
|
/s/ Xxxx Xxxxxx |
|
|
XXXXX XXXXXXX
|
||
|
By:
|
/s/ Xxxxx Xxxxxxx |
|
|
SP3 INVESTMENTS, LLC
|
||
|
By:
|
Xxxxxxx Xxxxxxx |
|
|
Name: Xxxxxxx Xxxxxxx
|
||
|
Title: Member
|
||
|
XXXXXX X. XXXXXX TRUST
|
||
|
By:
|
/s/ Xxxxxx X. Xxxxxx |
|
|
Name: Xxxxxx X. Xxxxxx
|
||
|
Title: Trustee
|
||
|
SUNGARDEN INVESTMENT HOLDINGS, LLC
|
||
|
By:
|
/s/ Xxx Xxxxxx |
|
|
Name: Xxx Xxxxxx
|
||
|
Title: Managing Member
|
||
|
TACRIPE ENTERPRISES LLC
|
||
|
By:
|
/s/ Xxx Xxxxx |
|
|
Name: Xxx Xxxxx
|
||
|
Title: Manager
|
||
|
XXX XXXXXX
|
||
|
By:
|
/s/ Xxx Xxxxxx |
|
|
TDC VENTURES LP
|
||
|
By:
|
/s/ Xxxx Xxxx Xxxxxxx |
|
|
Name: Xxxx Xxxx Xxxxxxx
|
||
|
Title: Owner
|
||
[Signature Page to Member Support Agreement]
|
THE XXXXX X.X. KOPPERL 2002 TRUST
|
||
|
By:
|
/s/ Xxxxx X.X. Kopperl
|
|
|
Name: Xxxxx X.X. Kopperl
|
||
|
Title: Trustee
|
||
|
THE IRREVOCABLE ALOHA TRUST UTD 05/01/2002
|
||
|
By:
|
/s/ Xxxxxxxx Xxxxxxx Xxxxxxxx Trustee
|
|
|
Name: Xxxxxxxx Xxxxxxx Xxxxxxxx
|
||
|
Title: Trustee
|
||
[Signature Page to Member Support Agreement]
|
XXXXXXX XXXXXX
|
||
|
By:
|
/s/ Xxxxxxx Xxxxxx
|
|
|
XXXX AND XXXX XXXXXXXXX
|
||
|
By:
|
/s/ Xxxx Xxxxxxxxx
|
|
|
TRANSPORTATION MANAGEMENT, INC
|
||
|
By:
|
/s/ Xxxx Xxxxxx
|
|
|
Name: Xxxx Xxxxxx
|
||
|
Title: President
|
||
|
TRI STATE VENTURE INVESTMENT GROUP III LLC
|
||
|
By:
|
/s/ Xxx Xxxxx
|
|
|
Name: Xxx Xxxxx
|
||
|
Title: Organizer
|
||
|
VALARITI LLC
|
||
|
By:
|
/s/ Xxxxx Xxxxx
|
|
|
Name: Xxxxx Xxxxx
|
||
|
Title: Managing Director
|
||
|
WE-INN LLC
|
||
|
By:
|
/s/ Xxxx Xxxxxx
|
|
|
Name: Xxxx Xxxxxx
|
||
|
Title: Co-President
|
||
|
XXXXXXX X. XXXXX XXX
|
||
|
By:
|
/s/ Xxxxxxx X. Xxxxx XXX
|
|
|
XXXXXXX XXXXXX
|
||
|
By:
|
/s/ Xxxxxxx Xxxxxx
|
|
|
XXXXXX XXX XXX XXXX
|
||
|
By:
|
/s/ Xxxxxx xxx xxx Xxxx
|
|
[Signature Page to Member Support Agreement]
Annex A
Voting Units of Company Members
Class B
| Investor | Units | Contribution |
| The Irrevocable Aloha Trust UTD 05/01/2002 | 515,507 | $ 5,000,000.00 |
| Ascent X Innventure TC, A Series of Ascent X Innventure, LP | 295,901 | $ 2,870,000.00 |
| TRI STATE VENTURE INVESTMENT GROUP III LLC | 104,648 | $ 1,015,000.00 |
| Xxxxx Xxxxxxxxx | 77,326 | $ 750,000.00 |
| AltoIRA Custodian FBO Xxxxxxxxxxx Xxxxxx SEP IRA | 61,861 | $ 600,000.00 |
| SP3 Investments, LLC | 51,551 | $ 500,000.00 |
| TDC Ventures LP | 51,551 | $ 500,000.00 |
| Xxxx & Xxxxx Xxxxxx | 45,364 | $ 440,000.00 |
| The Xxxxx X.X. Kopperl 2002 Trust | 30,931 | $ 300,000.00 |
| Xxxxxxxxxxx Xxxxxx | 30,930 | $ 300,000.00 |
| Xxxxx Xxxxxx | 30,930 | $ 300,000.00 |
| Xxxxx Xxxxxx | 30,930 | $ 300,000.00 |
| McAlpha LLC | 30,414 | $ 295,000.00 |
| Xxxx Xxxxxx | 25,775 | $ 250,000.00 |
| Xxxxxx X. Xxxxxx Revocable Trust and Xxxx X. Xxxxxx Revocable Trust | 25,775 | $ 250,000.00 |
| Xxxxx Xxxxxxx | 25,775 | $ 250,000.00 |
| CDS Delaware Holdings LLC | 25,775 | $ 250,000.00 |
| Xxxxxxxx Xxxxxxx | 23,713 | $ 230,000.00 |
| Tacripe Enterprises LLC | 23,095 | $ 224,000.00 |
| DNA Investors LLC | 20,620 | $ 200,000.00 |
| TRANSPORTATION MANAGEMENT, INC | 16,238 | $ 157,500.00 |
| Xxxxx XxXxxx | 15,465 | $ 150,000.00 |
| Xxxxx and Xxxxxxxxxx Xxxxx | 13,532 | $ 131,250.00 |
| XXXXX XXXXXXXX HOLDING USA INC | 12,888 | $ 125,000.00 |
| Xxxxxx X. Xxxxxx Trust | 12,888 | $ 125,000.00 |
| Midland Trust Company As Custodian CBO Xxxxxx Xxxxx #1708083 | 10,825 | $ 105,000.00 |
| Xxxxx X. Xxxxxxxxx | 10,310 | $ 100,000.00 |
| CNB CUSTODY IRA FBO XXXXX XXXXXX ACCT #8469065 | 10,310 | $ 100,000.00 |
| Xxxxxxxx Xxxxxx | 10,310 | $ 100,000.00 |
| XXXX X. XXXXXX REVOCABLE LIVING TRUST DTD MAY 22, 2002 | 10,310 | $ 100,000.00 |
| Xxxxxx Xxxx-Xxxxxx | 10,310 | $ 100,000.00 |
| Xxxxxx XxXxxxxx | 10,310 | $ 100,000.00 |
| Hollow Corn Dog | 10,310 | $ 100,000.00 |
| Xxxxx Xxxxx Xxxxxxx | 10,310 | $ 100,000.00 |
| Xxxxx Consulting Co, LLC | 10,310 | $ 100,000.00 |
| Flight Deck Properties LLC | 10,310 | $ 100,000.00 |
| Xxxxxxx Xxx | 10,310 | $ 100,000.00 |
| Xxxxxxxxx & Xxxxxxx Xxx Xxxxxxx , JT TEN | 10,310 | $ 100,000.00 |
| NuView Trust Co Custodian FBO Xxxxx Xxxxx Xxxx Acct # 1723643 | 10,310 | $ 100,000.00 |
| Xxxx Xxxxx Xxxxxxx Declaration of Trust DTD 09/12/2011, Xxxx Xxxxxxx, TEE | 10,310 | $ 100,000.00 |
| Xxxxx X. Xxxxxx Declaration of Trust | 10,310 | $ 100,000.00 |
| Xxxxx Xxxx | 10,310 | $ 100,000.00 |
| Sungarden Investment Holdings, LLC | 10,310 | $ 100,000.00 |
| Xxxxx & Xxxxxx Xxxxxxxx | 10,310 | $ 100,000.00 |
| Xxxxx Xxxxxx | 10,310 | $ 100,000.00 |
| Xxxxx Xxxxxxxxxx | 10,310 | $ 100,000.00 |
| NuView Trust Co. Custodian FBO Xxxx Xxxxxxx IRA | 10,310 | $ 100,000.00 |
| Xxxxxxx X Xxxxxx | 10,310 | $ 100,000.00 |
| Xxxxxxx Xxxxxxx | 10,310 | $ 100,000.00 |
| Xxxxxx Xxx Xxx Xxxx | 7,733 | $ 75,000.00 |
| Xxxxxx’x Xxxxxx Warfare LLC | 5,484 | $ 53,190.41 |
| COMMUNITY NATIONAL BANK CUSTODIANFBO XXXXXX X. XXXXX XXX ACCT # 3069176 | 5,155 | $ 50,000.00 |
| COMMUNITY NATIONAL BANK CUSTODIANFBO XXXXXXXX X. XXXXX XXX ACCT # 3069184 | 5,155 | $ 50,000.00 |
| Xxxxxxx X. Xxxxx III | 5,155 | $ 50,000.00 |
| Xxxxxxx Xxxxxxxx | 5,155 | $ 50,000.00 |
| Community National Bank as Custodian FBO: Xxxxx Xxxxxxxxx IRA #8271249 | 5,155 | $ 50,000.00 |
| Xxxx and Xxxx Xxxxxxxxx | 5,155 | $ 50,000.00 |
| Xxx XxXxxxxx | 5,155 | $ 50,000.00 |
| Total | 1,896,640 | $ 18,395,940.41 |
Class B-1
| Investor | Units | Contribution |
| Innventure1 LLC | 342,608 | $ 3,323,053.43 |
| Xxxxxxx Xxxxxxx | 260,787 | $ 2,529,429.00 |
| Xxxx Xxxxx | 171,498 | $ 1,663,394.00 |
| Total | 774,893 | $ 7,515,876.43 |
Class A
| Investor | Units | Contribution |
| Innventure1 LLC | 5,894,438 | na |
| We-Inn LLC | 4,980,562 | na |
| Total | 10,875,000 | na |
Class C
| Investor | Units | Contribution |
| Xxxxxx Xxxxxxx | 470,000 | na |
| Xxxx Xxxxxx | 30,000 | na |
| Xxxxxxx Xxxxxxx | 30,000 | na |
| Xxxxxxx X. Xxxxxxx and Xxxxxx X. Xxxxxxx, as Tenants by the Entireties | 430,000 | na |
| Xxx Xxxxxx | 20,000 | na |
| Valariti LLC | 45,000 | na |
| Xxxxx Xxxxx | 75,000 | na |
| Xxxx Xxxxxxx | 75,000 | na |
| Xxxxxxx Xxxxxx | 75,000 | na |
| Xxxxx Xxxxxx | 110,125 | na |
| Xxxxx Xxxxxxxxx | 15,000 | na |
| Total | 1,375,125 | na |
