STRICTLY CONFIDENTIAL Lifeward Ltd.
Exhibit 10.30
Execution Version
January 6, 2025
STRICTLY CONFIDENTIAL
▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇.
Marlborough, MA 01752
Attn: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇, Chief Executive Officer
Dear ▇▇. ▇▇▇▇▇▇▇▇:
This letter agreement (this “Agreement”)
constitutes the agreement between Lifeward Ltd. (the “Company”) and ▇.▇. ▇▇▇▇▇▇▇▇▇▇ & Co., LLC (“▇▇▇▇▇▇▇▇▇▇”), that ▇▇▇▇▇▇▇▇▇▇ shall serve as the exclusive underwriter, agent or advisor in any offering of securities of the Company (the “Securities”) during the Term (as hereinafter defined) of this Agreement, including, but not limited to, a so-called at-the-market facility (“ATM”)
(each, an “Offering”). The terms of each Offering and the Securities issued in connection therewith shall be mutually agreed upon by the Company and
▇▇▇▇▇▇▇▇▇▇ and nothing herein implies that ▇▇▇▇▇▇▇▇▇▇ would have the power or authority to bind the Company and nothing herein implies that the Company shall have an obligation to issue any Securities. It is understood that ▇▇▇▇▇▇▇▇▇▇’▇ assistance
in an Offering will be subject to the satisfactory completion of such investigation and inquiry into the affairs of the Company as ▇▇▇▇▇▇▇▇▇▇ deems appropriate under the circumstances and to the receipt of all internal approvals of ▇▇▇▇▇▇▇▇▇▇ in
connection with an Offering. The Company expressly acknowledges and agrees that ▇▇▇▇▇▇▇▇▇▇’▇ involvement in an Offering is strictly on a reasonable best efforts basis and that the consummation of an Offering will be subject to, among other things,
market conditions. The execution of this Agreement does not constitute a commitment by ▇▇▇▇▇▇▇▇▇▇ to purchase the Securities and does not ensure a successful Offering of the Securities or the success of ▇▇▇▇▇▇▇▇▇▇ with respect to securing any other
financing on behalf of the Company. ▇▇▇▇▇▇▇▇▇▇ may retain other underwriters, brokers, dealers or agents on its behalf in connection with an Offering.
A. Compensation; Reimbursement. The Company shall compensate
▇▇▇▇▇▇▇▇▇▇, as follows:
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Cash Fee. The Company shall pay to ▇▇▇▇▇▇▇▇▇▇ a cash fee, or
as to an underwritten Offering an underwriter discount, equal to 7.0% of the aggregate gross proceeds raised at each closing of each Offering (each, a “Closing”);
provided, however, that the cash fee for an ATM shall equal 3.0% of the aggregate gross proceeds raised in each takedown pursuant to an ATM. In addition, upon the exercise for cash of any privately-placed, unregistered warrants issued to
investors in an Offering, the Company shall pay ▇▇▇▇▇▇▇▇▇▇, within five (5) business days of the Company’s receipt of the exercise price, (i) a cash fee of 7.0% of the aggregate gross exercise price paid in cash with respect thereto; and
(ii) a management fee of 1.0% of the aggregate gross exercise price paid in cash with respect thereto.
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| 2. |
Warrant Coverage. The Company shall issue to ▇▇▇▇▇▇▇▇▇▇ or
its designees at each Closing, warrants (the “▇▇▇▇▇▇▇▇▇▇ Warrants”) to purchase that number of ordinary shares of the Company equal to 6.0% of the
aggregate number of ordinary shares (or ordinary share equivalent, if applicable) placed in each Offering (and if an Offering includes a “greenshoe” or “additional investment” component, such number of ordinary shares underlying such
“greenshoe” or “additional investment” component, with the ▇▇▇▇▇▇▇▇▇▇ Warrants issuable upon the exercise of such component); provided, however, that no warrants will be issued to ▇▇▇▇▇▇▇▇▇▇ in connection with an ATM. If the Securities
included in an Offering are convertible, the ▇▇▇▇▇▇▇▇▇▇ Warrants shall be determined by dividing the gross proceeds raised in such Offering by the Offering Price (as defined hereunder). The ▇▇▇▇▇▇▇▇▇▇ Warrants shall be in a customary form
reasonably acceptable to ▇▇▇▇▇▇▇▇▇▇, have a term of five (5) years and an exercise price equal to 125% of the offering price per share (or unit, if applicable) in the applicable Offering and if such offering price is not available, the
market price of the ordinary shares on the date an Offering is commenced (such price, the “Offering Price”). If warrants are issued to investors in
an Offering, the ▇▇▇▇▇▇▇▇▇▇ Warrants shall have the same terms as the warrants issued to investors in the applicable Offering, except that such ▇▇▇▇▇▇▇▇▇▇ Warrants shall have an exercise price equal to 125% of the Offering Price. In
addition, upon the exercise for cash of any privately-placed, unregistered warrants issued to investors in an Offering, the Company shall issue to ▇▇▇▇▇▇▇▇▇▇ (or its designees), within five (5) business days of the Company’s receipt of the
exercise price, the ▇▇▇▇▇▇▇▇▇▇ Warrants to purchase that number of ordinary shares of the Company equal to 6.0% of the aggregate number of such ordinary shares underlying such warrants that have been so exercised and such ▇▇▇▇▇▇▇▇▇▇
Warrants will be in the same form and terms as the ▇▇▇▇▇▇▇▇▇▇ Warrants originally issued in the applicable Offering.
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| 3. |
Expense Allowance. Out of the proceeds of each Closing, the
Company also agrees to pay ▇▇▇▇▇▇▇▇▇▇ (a) a management fee equal to 1.0% of the gross proceeds raised in each Offering; (b) $35,000 for non-accountable expenses (to be increased to $50,000 in case a public Offering is contemplated or
consummated); (c) up to $50,000 for fees and expenses of legal counsel and other out-of-pocket expenses (to be increased to $100,000 in case a public Offering is contemplated or consummated); plus the additional amount payable by the
Company pursuant to Paragraph D.4 hereunder and, if applicable, the costs associated with the use of a third-party electronic road show service (such as NetRoadshow) in an amount not to exceed $3,500; provided, however, that such amounts in
no way limit or impair the indemnification and contribution provisions of this Agreement.
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Notwithstanding anything to the contrary included in the preceding paragraph, in connection with an ATM, the
Company shall pay ▇▇▇▇▇▇▇▇▇▇ up to $75,000 for fees and expenses of its legal counsel in addition to any other out-of-pocket expenses that will be incurred by the Company and ▇▇▇▇▇▇▇▇▇▇ in connection with the set-up, execution, performance and
maintenance of the ATM.
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Tail. ▇▇▇▇▇▇▇▇▇▇ shall be entitled to compensation under
clauses (1) and (2) hereunder, calculated in the manner set forth therein, with respect to any public or private offering or other financing or capital-raising transaction of any kind (“Tail Financing”) to the extent that any capital or funds in such Tail Financing is provided to the Company directly or indirectly by investors whom ▇▇▇▇▇▇▇▇▇▇ had contacted directly during the Term or
introduced directly to the Company during the Term, if such Tail Financing is consummated at any time within the 12-month period following the expiration or termination of this Agreement. ▇▇▇▇▇▇▇▇▇▇ shall provide the Company with a list of
investors who are subject to this tail provision as soon as reasonably practicable following the expiration or termination of this Agreement upon the Company’s request.
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| 5. |
Right of First Refusal. If, from the date hereof until the
12-month anniversary following consummation of each Offering (subject to FINRA Rule 5110(g)(6)(A)), the Company or any of its subsidiaries (a) decides to dispose of or acquire business units or acquire any of its outstanding securities or
make any exchange or tender offer or enter into a merger, consolidation or other business combination or any recapitalization, reorganization, restructuring or other similar transaction, including, without limitation, an extraordinary
dividend or distributions or a spin-off or split-off, ▇▇▇▇▇▇▇▇▇▇ (or any affiliate designated by ▇▇▇▇▇▇▇▇▇▇) shall have the right to act as the Company’s exclusive financial advisor for any such transaction; or (b) decides to raise funds by
means of a public offering (including ATMs) or a private placement or any other capital-raising financing of equity, equity-linked or debt securities (excluding, for the avoidance of doubt, a straight debt), ▇▇▇▇▇▇▇▇▇▇ (or any affiliate
designated by ▇▇▇▇▇▇▇▇▇▇) shall have the right to act as sole book-running manager, sole underwriter or sole placement agent for such financing. If ▇▇▇▇▇▇▇▇▇▇ or one of its affiliates decides to accept any such engagement, the agreement
governing such engagement will contain, among other things, provisions for customary fees for transactions of similar size and nature and the provisions of this Agreement, including indemnification, which are appropriate to such a
transaction.
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B. Term and Termination of Engagement; Exclusivity. The term of ▇▇▇▇▇▇▇▇▇▇’▇ exclusive engagement will begin on the date hereof and end sixty (60) days thereafter
(the “Initial Term”); provided, however, that if an Offering is consummated within the Initial Term, the term of this Agreement shall be extended by an
additional sixty (60) day period (the “Extension Term,” and together with the Initial Term, the “Term”). For clarity, the term “Term” shall mean the Initial Term if there is no Extension Term. Notwithstanding anything to the contrary contained herein, the Company agrees that the provisions relating to
the payment of fees, reimbursement of expenses, right of first refusal, tail, indemnification and contribution, confidentiality, conflicts, independent contractor and waiver of the right to trial by jury will survive any termination or expiration
of this Agreement. Notwithstanding anything to the contrary contained herein, the Company has the right to terminate the Agreement for cause in compliance with FINRA Rule 5110(g)(5)(B)(i). The exercise of such right of termination for cause
eliminates the Company’s obligations with respect to the provisions relating to the tail fees and right of first refusal. Notwithstanding anything to the contrary contained in this Agreement, in the event that an Offering pursuant to this
Agreement shall not be carried out for any reason whatsoever during the Term, the Company shall be obligated to pay to ▇▇▇▇▇▇▇▇▇▇ its actual and accountable out-of-pocket expenses related to an Offering (including the fees and disbursements of
▇▇▇▇▇▇▇▇▇▇’▇ legal counsel) and, if applicable, for electronic road show service used in connection with an Offering to a limit of $100,000 in the aggregate. During ▇▇▇▇▇▇▇▇▇▇’▇ engagement hereunder: (i) the Company will not, and will not permit
its representatives to, other than in coordination with ▇▇▇▇▇▇▇▇▇▇, contact or solicit institutions, corporations or other entities or individuals as potential purchasers of the Securities or investment banks in connection with an Offering and
(ii) the Company will not pursue any financing transaction which would be in lieu of an Offering. Furthermore, the Company agrees that during ▇▇▇▇▇▇▇▇▇▇’▇ engagement hereunder, all inquiries from prospective investors will be referred to
▇▇▇▇▇▇▇▇▇▇. Additionally, except as set forth hereunder, the Company represents, warrants and covenants that no brokerage or finder’s fees or commissions are or will be payable by the Company or any subsidiary of the Company to any broker,
financial advisor or consultant, finder, placement agent, investment banker, bank or other third-party with respect to any Offering.
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C. Information; Reliance. The Company shall furnish, or cause to be furnished, to ▇▇▇▇▇▇▇▇▇▇ all information requested by ▇▇▇▇▇▇▇▇▇▇ for the purpose of rendering
services hereunder and conducting due diligence (all such information being the “Information”). In addition, the Company agrees to make available to
▇▇▇▇▇▇▇▇▇▇ upon request from time to time the officers, directors, accountants, counsel and other advisors of the Company. The Company recognizes and confirms that ▇▇▇▇▇▇▇▇▇▇ (a) will use and rely on the Information, including any documents
provided to investors in each Offering (the “Offering Documents”) which shall include any Purchase Agreement (as defined hereunder), and on information
available from generally recognized public sources in performing the services contemplated by this Agreement without having independently verified the same; (b) does not assume responsibility for the accuracy or completeness of the Offering
Documents (other than such portion of the Offering Documents made in reliance upon, and in conformity with, written information furnished by ▇▇▇▇▇▇▇▇▇▇ to the Company specifically for inclusion in the Offering Documents) or the Information and
such other information; and (c) will not make an appraisal of any of the assets or liabilities of the Company. Upon reasonable request, the Company will meet with ▇▇▇▇▇▇▇▇▇▇ or its representatives to discuss all information relevant for
disclosure in the Offering Documents and will cooperate in any investigation undertaken by ▇▇▇▇▇▇▇▇▇▇ thereof, including any document included or incorporated by reference therein. At each Offering, at the request of ▇▇▇▇▇▇▇▇▇▇, the Company shall
deliver such legal letters (including, without limitation, negative assurance letters), opinions, comfort letters, officers’ and secretary certificates and good standing certificates, all in form and substance satisfactory to ▇▇▇▇▇▇▇▇▇▇ and its
counsel as is customary for such Offering. ▇▇▇▇▇▇▇▇▇▇ shall be a third party beneficiary of any representations, warranties, covenants, closing conditions and closing deliverables made by the Company in any Offering Documents, including
representations, warranties, covenants, closing conditions and closing deliverables made to any investor in an Offering.
D. Related Agreements. At each Offering, the Company shall enter into the following additional agreements, as applicable:
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Underwritten Offering. If an Offering is an underwritten
Offering, the Company and ▇▇▇▇▇▇▇▇▇▇ shall enter into a customary underwriting agreement in form and substance satisfactory to the Company and its counsel and ▇▇▇▇▇▇▇▇▇▇ and its counsel.
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Best Efforts Offering. If an Offering is on a best efforts
basis, the sale of Securities to the investors in the Offering will be evidenced by a purchase agreement (“Purchase Agreement”) between the Company
and such investors in a form reasonably satisfactory to the Company and ▇▇▇▇▇▇▇▇▇▇. ▇▇▇▇▇▇▇▇▇▇ shall be a third party beneficiary with respect to the representations, warranties, covenants, closing conditions and closing deliverables
included in the Purchase Agreement. Prior to the signing of any Purchase Agreement, officers of the Company with responsibility for financial affairs will be available to answer inquiries from prospective investors.
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| 3. |
ATM Offering. If an Offering is an ATM, the Company and
▇▇▇▇▇▇▇▇▇▇ shall enter into a customary at-the-market sales agreement in form and substance satisfactory to the Company and its counsel and ▇▇▇▇▇▇▇▇▇▇ and its counsel.
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| 4. |
Escrow, Settlement and Closing. If each Offering is not
settled via delivery versus payment (“DVP”), the Company and ▇▇▇▇▇▇▇▇▇▇ shall enter into an escrow agreement with a third party escrow agent pursuant
to which ▇▇▇▇▇▇▇▇▇▇’▇ compensation and expenses shall be paid from the gross proceeds of the Securities sold. If the Offering is settled in whole or in part via DVP, ▇▇▇▇▇▇▇▇▇▇ shall arrange for its clearing agent to provide the funds to
facilitate such settlement; provided, however, if the clearing firm provides the funds in a best efforts offering and subsequent to such delivery an investor fails to provide the necessary funds to the clearing agent for such purchase of
Securities, ▇▇▇▇▇▇▇▇▇▇ shall instruct the clearing agent to promptly return any such Securities to the Company and the Company shall promptly return such investor’s purchase price to the clearing agent. The Company shall pay ▇▇▇▇▇▇▇▇▇▇
closing costs, which shall also include the reimbursement of the out-of-pocket cost of the escrow agent or clearing agent, as applicable, which closing costs shall not exceed $15,950.
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FINRA Amendments. Notwithstanding anything herein to the
contrary, in the event that ▇▇▇▇▇▇▇▇▇▇ determines that any of the terms provided for hereunder shall not comply with a FINRA rule, including but not limited to FINRA Rule 5110, then the Company shall agree to amend this Agreement (or
include such revisions in the final underwriting agreement) in writing upon the request of ▇▇▇▇▇▇▇▇▇▇ to comply with any such rules; provided that any such amendments shall not provide for terms that are less favorable to the Company than
are reflected in this Agreement.
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E. Confidentiality. In the event of the consummation or public announcement of any Offering, ▇▇▇▇▇▇▇▇▇▇ shall have the right to disclose its participation in such
Offering, including, without limitation, the Offering at its cost of “tombstone” advertisements in financial and other newspapers and journals.
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F. Indemnity.
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In connection with the Company’s engagement of ▇▇▇▇▇▇▇▇▇▇ hereunder, the Company hereby agrees to indemnify and hold harmless ▇▇▇▇▇▇▇▇▇▇ and its affiliates, and the
respective controlling persons, directors, officers, members, shareholders, agents and employees of any of the foregoing (collectively the “Indemnified Persons”),
from and against any and all claims, actions, suits, proceedings (including those of shareholders), damages, liabilities and reasonable and documented expenses incurred by any of them (including the reasonable and documented fees and
expenses of counsel), as incurred, whether or not the Company is a party thereto (collectively a “Claim”), that are (A) related to or arise out of
(i) any actions taken or omitted to be taken (including any untrue statements made or any statements omitted to be made) by the Company, or (ii) any actions taken or omitted to be taken by any Indemnified Person in connection with the
Company’s engagement of ▇▇▇▇▇▇▇▇▇▇, or (B) otherwise relate to or arise out of ▇▇▇▇▇▇▇▇▇▇’▇ activities on the Company’s behalf under ▇▇▇▇▇▇▇▇▇▇’▇ engagement, and the Company shall reimburse any Indemnified Person for all reasonable and
documented expenses (including the reasonable and documented fees and expenses of counsel) as incurred by such Indemnified Person in connection with investigating, preparing or defending any such claim, action, suit or proceeding, whether
or not in connection with pending or threatened litigation in which any Indemnified Person is a party. The Company will not, however, be responsible for any Claim that is finally judicially determined to have resulted from the gross
negligence or willful misconduct of any such Indemnified Person for such Claim. The Company further agrees that no Indemnified Person shall have any liability to the Company for or in connection with the Company’s engagement of ▇▇▇▇▇▇▇▇▇▇
except for any Claim incurred by the Company as a result of such Indemnified Person’s gross negligence or willful misconduct.
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| 2. |
The Company further agrees that it will not, without the prior written consent of ▇▇▇▇▇▇▇▇▇▇, settle, compromise or consent to the entry of any judgment in any
pending or threatened Claim in respect of which indemnification may be sought hereunder (whether or not any Indemnified Person is an actual or potential party to such Claim), unless such settlement, compromise or consent includes an
unconditional, irrevocable release of each Indemnified Person from any and all liability arising out of such Claim.
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| 3. |
Promptly upon receipt by an Indemnified Person of notice of any complaint or the assertion or institution of any Claim with respect to which indemnification is being
sought hereunder, such Indemnified Person shall notify the Company in writing of such complaint or of such assertion or institution but failure to so notify the Company shall not relieve the Company from any obligation it may have
hereunder, except and only to the extent such failure results in the forfeiture by the Company of substantial rights and defenses. If the Company is requested by such Indemnified Person, the Company will assume the defense of such Claim,
including the employment of one counsel for such Indemnified Person (including local counsel, if applicable) and the payment of the reasonable and documented fees and expenses of such counsel, provided, however, that such counsel shall be
satisfactory to the Indemnified Person and provided further that if the legal counsel to such Indemnified Person reasonably determines that the use of counsel chosen by the Company to represent such Indemnified Person would present such
counsel with a conflict of interest or if the defendant in, or target of, any such Claim, includes an Indemnified Person and the Company, and legal counsel to such Indemnified Person reasonably concludes that there may be legal defenses
available to it or other Indemnified Persons different from or in addition to those available to the Company, such Indemnified Person will employ its own separate counsel (including local counsel, if necessary) to represent or defend him,
her or it in any such Claim and the Company shall pay the reasonable and documented fees and expenses of such counsel. If such Indemnified Person does not request that the Company assume the defense of such Claim, such Indemnified Person
will employ its own separate counsel (including local counsel, if necessary) to represent or defend him, her or it in any such Claim and the Company shall pay the reasonable and documented fees and expenses of such counsel. Notwithstanding
anything herein to the contrary, if the Company fails timely or diligently to defend, contest, or otherwise protect against any Claim, the relevant Indemnified Person shall have the right, but not the obligation, to defend, contest,
compromise, settle, assert crossclaims, or counterclaims or otherwise protect against the same, and shall be fully indemnified by the Company therefor, including without limitation, for the reasonable fees and expenses of its counsel and
all amounts paid as a result of such Claim or the compromise or settlement thereof. In addition, with respect to any Claim in which the Company assumes the defense, the Indemnified Person shall have the right to participate in such Claim
and to retain his, her or its own counsel therefor at his, her or its own expense.
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The Company agrees that if any indemnity sought by an Indemnified Person hereunder is held by a court to be unavailable for any reason then (whether or not ▇▇▇▇▇▇▇▇▇▇
is the Indemnified Person), the Company and ▇▇▇▇▇▇▇▇▇▇ shall contribute to the Claim for which such indemnity is held unavailable in such proportion as is appropriate to reflect the relative benefits to the Company, on the one hand, and
▇▇▇▇▇▇▇▇▇▇ on the other, in connection with ▇▇▇▇▇▇▇▇▇▇’▇ engagement referred to above, subject to the limitation that in no event shall the amount of ▇▇▇▇▇▇▇▇▇▇’▇ contribution to such Claim exceed the amount of fees actually received by
▇▇▇▇▇▇▇▇▇▇ from the Company pursuant to ▇▇▇▇▇▇▇▇▇▇’▇ engagement. The Company hereby agrees that the relative benefits to the Company, on the one hand, and ▇▇▇▇▇▇▇▇▇▇ on the other, with respect to ▇▇▇▇▇▇▇▇▇▇’▇ engagement shall be deemed to
be in the same proportion as (a) the total value paid or proposed to be paid or received by the Company pursuant to the applicable Offering (whether or not consummated) for which ▇▇▇▇▇▇▇▇▇▇ is engaged to render services bears to (b) the fee
paid or proposed to be paid to ▇▇▇▇▇▇▇▇▇▇ in connection with such engagement.
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| 5. |
The Company’s indemnity, reimbursement and contribution obligations under this Agreement (a) shall be in addition to, and shall in no way limit or otherwise adversely
affect any rights that any Indemnified Person may have at law or at equity and (b) shall be effective whether or not the Company is at fault in any way.
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G. Limitation of Engagement to the Company. The Company acknowledges that ▇▇▇▇▇▇▇▇▇▇ has been retained only by the Company, that ▇▇▇▇▇▇▇▇▇▇ is providing services
hereunder as an independent contractor (and not in any fiduciary or agency capacity) and that the Company’s engagement of ▇▇▇▇▇▇▇▇▇▇ is not deemed to be on behalf of, and is not intended to confer rights upon, any shareholder, owner or partner of
the Company or any other person not a party hereto as against ▇▇▇▇▇▇▇▇▇▇ or any of its affiliates, or any of its or their respective officers, directors, controlling persons (within the meaning of Section 15 of the Securities Act of 1933, as
amended (the “Securities Act”) or Section 20 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), employees or agents. Unless otherwise expressly agreed in writing by ▇▇▇▇▇▇▇▇▇▇, no one other than the Company is authorized to rely upon this Agreement or any other statements or conduct of
▇▇▇▇▇▇▇▇▇▇, and no one other than the Company is intended to be a beneficiary of this Agreement. The Company acknowledges that any recommendation or advice, written or oral, given by ▇▇▇▇▇▇▇▇▇▇ to the Company in connection with ▇▇▇▇▇▇▇▇▇▇’▇
engagement is intended solely for the benefit and use of the Company’s management and directors in considering a possible Offering, and any such recommendation or advice is not on behalf of, and shall not confer any rights or remedies upon, any
other person or be used or relied upon for any other purpose. ▇▇▇▇▇▇▇▇▇▇ shall not have the authority to make any commitment binding on the Company. The Company, in its sole discretion, shall have the right to reject any investor introduced to it
by ▇▇▇▇▇▇▇▇▇▇.
H. Limitation of ▇▇▇▇▇▇▇▇▇▇’▇ Liability to the Company. ▇▇▇▇▇▇▇▇▇▇ and the Company further agree that neither ▇▇▇▇▇▇▇▇▇▇ nor any of its affiliates or any of its
or their respective officers, directors, controlling persons (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act), employees or agents shall have any liability to the Company, its security holders or
creditors, or any person asserting claims on behalf of or in the right of the Company (whether direct or indirect, in contract, tort, for an act of negligence or otherwise) for any losses, fees, damages, liabilities, costs, expenses or equitable
relief arising out of or relating to this Agreement or the services rendered hereunder, except for losses, fees, damages, liabilities, costs or expenses that arise out of or are based on any action of or failure to act by ▇▇▇▇▇▇▇▇▇▇ and that are
finally judicially determined to have resulted solely from the gross negligence or willful misconduct of ▇▇▇▇▇▇▇▇▇▇.
I. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York applicable to agreements made and to be
fully performed therein. Any disputes that arise under this Agreement, even after the termination of this Agreement, will be heard only in the state or federal courts located in the City of New York, State of New York. The parties hereto
expressly agree to submit themselves to the jurisdiction of the foregoing courts in the City of New York, State of New York. The parties hereto expressly waive any rights they may have to contest the jurisdiction, venue or authority of any court
sitting in the City and State of New York. In the event ▇▇▇▇▇▇▇▇▇▇ or any Indemnified Person is successful in any action, or suit against the Company, arising out of or relating to this Agreement, the final judgment or award entered shall be
entitled to have and recover from the Company the reasonable and documented costs and expenses incurred in connection therewith, including its reasonable attorneys’ fees. Any rights to trial by jury with respect to any such action, proceeding or
suit are hereby waived by ▇▇▇▇▇▇▇▇▇▇ and the Company.
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J. Notices. All notices hereunder will be in writing and sent by certified mail, hand delivery, overnight delivery or e-mail, if sent to ▇▇▇▇▇▇▇▇▇▇, at the
address set forth on the first page hereof, e-mail: ▇▇▇▇▇▇▇@▇▇▇▇▇.▇▇▇, Attention: Head of Investment Banking, and if sent to the Company, to the address set forth on the first page hereof, e-mail: ▇▇▇▇.▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇.▇▇▇, Attention: Chief
Financial Officer. Notices sent by certified mail shall be deemed received five days thereafter, notices sent by hand delivery or overnight delivery shall be deemed received on the date of the relevant written record of receipt, notices sent by
e-mail shall be deemed received as of the date and time they were sent.
K. Conflicts. The Company acknowledges that ▇▇▇▇▇▇▇▇▇▇ and its affiliates may have and may continue to have investment banking and other relationships with
parties other than the Company pursuant to which ▇▇▇▇▇▇▇▇▇▇ may acquire information of interest to the Company. ▇▇▇▇▇▇▇▇▇▇ shall have no obligation to disclose such information to the Company or to use such information in connection with any
contemplated transaction.
L. Anti-Money Laundering. To help the United States government fight the funding of terrorism and money laundering, the federal laws of the United States require
all financial institutions to obtain, verify and record information that identifies each person with whom they do business. This means ▇▇▇▇▇▇▇▇▇▇ must ask the Company for certain identifying information, including a government-issued
identification number (e.g., a U.S. taxpayer identification number) and such other information or documents that ▇▇▇▇▇▇▇▇▇▇ considers appropriate to verify the Company’s identity, such as certified articles of incorporation, a government-issued
business license, a partnership agreement or a trust instrument.
M. Miscellaneous. The Company represents and warrants that it has all requisite power and authority to enter into and carry out the terms and provisions of this
Agreement and the execution, delivery and performance of this Agreement does not breach or conflict with any agreement, document or instrument to which it is a party or bound. Furthermore, the Company represents and warrants that no consent.
permit, waiver. approval or authorization of any third party in connection with the execution, delivery and performance by the Company of this Agreement or an Offering, is required or has not been obtained. This Agreement shall not be modified or
amended except in writing signed by ▇▇▇▇▇▇▇▇▇▇ and the Company. This Agreement shall be binding upon and inure to the benefit of both ▇▇▇▇▇▇▇▇▇▇ and the Company and their respective assigns, successors, and legal representatives. This Agreement
constitutes the entire agreement of ▇▇▇▇▇▇▇▇▇▇ and the Company with respect to the subject matter hereof and supersedes any prior agreements with respect to the subject matter hereto. If any provision of this Agreement is determined to be invalid
or unenforceable in any respect, such determination will not affect such provision in any other respect, and the remainder of the Agreement shall remain in full force and effect. This Agreement may be executed in counterparts (including
electronic counterparts). each of which shall be deemed an original but all of which together shall constitute one and the same instrument. Signatures to this Agreement transmitted by electronic mail in “portable document format” (.pdf) form, or
by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing the original signature. The undersigned hereby consents
to receipt of this Agreement in electronic form and understands and agrees that this Agreement may be signed electronically. In the event that any signature is delivered by electronic mail (including any electronic signature covered by the U.S.
federal ESIGN Act of 2000, Uniform Electronic Transactions Act, the Electronic Signatures and Records Act or other applicable law, e.g., ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇) or otherwise by electronic transmission evidencing an intent to sign this Agreement, such
electronic mail or other electronic transmission shall create a valid and binding obligation of the undersigned with the same force and effect as if such signature were an original. Execution and delivery of this Agreement by electronic mail or
other electronic transmission is legal, valid and binding for all purposes.
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In acknowledgment that the foregoing correctly sets forth the understanding reached by ▇▇▇▇▇▇▇▇▇▇ and the Company,
please sign in the space provided below, whereupon this letter shall constitute a binding Agreement as of the date indicated above.
| Very truly yours, | |||
| ▇.▇. ▇▇▇▇▇▇▇▇▇▇ & CO., LLC | |||
|
By:
|
/s/ ▇▇▇▇ ▇. Viklund | ||
| Name: ▇▇▇▇ ▇. Viklund | |||
| Title: Chief Executive Officer | |||
| Date: January 6, 2025 | |||
Accepted and Agreed:
By: /s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇
Name: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇
Title: CEO
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