Surrender of Shares and
Amendment No. 1 to the
Securities Subscription Agreement
This Surrender of Shares and Amendment No. 1 to the Securities Subscription Agreement, dated January 13, 2021 (this Agreement), is made by and between Jack Creek Investment Corp., a Cayman Islands exempted company (the Company), and JCIC Sponsor LLC, a Cayman Islands limited liability company (the Subscriber).
WHEREAS, the Company and the Subscriber have entered into that certain Securities Subscription Agreement, dated as of August 24, 2020 (the Subscription Agreement), pursuant to which the Subscriber subscribed for an aggregate of 8,625,000 Class B ordinary shares, par value $0.0001 per share of the Company (Class B Shares), for an aggregate purchase price of $25,000, and up to 1,125,000 of such Class B Shares are subject to complete or partial forfeiture by the Subscriber if the underwriters of the Companys initial public offering (the IPO) do not fully exercise their over-allotment option as described therein;
WHEREAS, the Subscriber desires to surrender for no consideration 1,437,500 Class B Shares, resulting in an aggregate of 7,187,500 Class F shares outstanding, up to 937,500 of which are intended to be subject to complete or partial forfeiture by the Subscriber if the underwriters of the Companys IPO do not fully exercise their over-allotment option as described in the Subscription Agreement;
WHEREAS, as a result of such surrender, the per-share purchase price will remain approximately $0.003 per share; and
WHEREAS, the Company and the Subscriber desire to amend the Subscription Agreement to modify the number of Class B Shares subject to forfeiture in connection with the IPO and the Subscriber desires to provide an irrevocable notice of surrender of certain Class B Shares to the Company.
NOW, THEREFORE, in consideration of the mutual conditions and agreements set forth in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
1. Surrender of Shares.
| ||(a) || |
The Subscriber hereby irrevocably surrenders to the Company for no consideration 1,437,500 Class B Shares.
| ||(b) || |
The Subscriber confirms that the Company has not, as at the date of this letter, issued any share certificates to it.