FORM OF VOTING AGREEMENT
Exhibit 10.1
FORM OF
This Voting Agreement (this “Agreement”) is made as of December 27, 2016 by and among (i) Pacific Special Acquisition Corp., a British Virgin Islands business company with limited liability (including, without limitation, any successor entity thereto, “Purchaser”), (ii) Borqs International Holding Corp, an exempted company incorporated under the laws of the Cayman Islands with limited liability (the “Company”), and (iii) the undersigned shareholder (“Holder”) of the Company. Any capitalized term used but not defined in this Agreement will have the meaning ascribed to such term in the Merger Agreement (as defined below).
WHEREAS, on or about the date hereof, Purchaser, the Company, PAAC Merger Subsidiary Limited, an exempted company incorporated under the laws of the Cayman Islands with limited liability and a wholly-owned subsidiary of the Purchaser (“Merger Sub”), Zhengqi International Holding Limited, a business company incorporated in the British Virgin Islands with limited liability, in its capacity under the Merger Agreement as the Purchaser Representative, Xxxxxxxxx Xxx, in the capacity as the Seller Representative thereunder, and for limited purposes thereof, Zhengqi International Holding Limited, a business company incorporated in the British Virgin Islands with limited liability, have entered into that certain Merger Agreement, dated as of the date hereof (as amended from time to time in accordance with the terms thereof, the “Merger Agreement”), pursuant to which Merger Sub will merge with and into the Company, with the Company continuing as the surviving entity (the “Merger”), and as a result of which (i) all of the issued and outstanding shares in the capital of the Company, immediately prior to the Effective Time, shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, in exchange for the right to receive a Pro Rata Share of the Merger Consideration Shares, subject to the withholding of the Escrow Shares being deposited in the Escrow Account in accordance with the terms and conditions of the Merger Agreement and the Escrow Agreement, (ii) the Company’s options shall be assumed (with equitable adjustments to the number and exercise price of such assumed Company options) by Purchaser with the result that such assumed options shall be exercisable into ordinary shares of Purchaser and (iii) the Company’s warrant holders immediately prior to the Effective Time shall be issued warrants of the Purchaser exercisable into ordinary shares of the Purchaser, all upon the terms and subject to the conditions set forth in the Merger Agreement and in accordance with the applicable provisions of the Companies Law (2016 Revision) of the Cayman Islands (as amended, the “Cayman Law”);
WHEREAS, the Board of Directors of the Company (the “Board”) has unanimously (a) approved and declared advisable the Merger Agreement, the Plan of Merger, the Ancillary Documents, the Merger and the other transactions contemplated by any such document (collectively with the Merger, the “Transactions”), (b) determined that the Transactions are fair to and in the best interests of the Company and the holders of the shares in the capital of the Company (the “Company Shareholders”) and (c) recommended the approval and the adoption by each of the Company Shareholders of the Merger Agreement, the Plan of Merger, the Ancillary Documents, the Merger and the other Transactions;
WHEREAS, as a condition to the willingness of Purchaser to enter into the Merger Agreement, and as an inducement and in consideration therefor, and in view of the valuable consideration to be received by the Holder thereunder, and the expenses and efforts to be undertaken by the Purchaser and the Company to consummate the Transactions, Purchaser, the Company and the Holder desire to enter into this Agreement in order for the Holder to provide certain assurances to the Purchaser regarding the manner in which the Holder is bound hereunder to vote any shares in the capital of the Company which the Holder beneficially owns, holds or otherwise has voting power (the “Shares”) during the period from and including the date hereof through and including the date on which this Agreement is terminated in accordance with its terms (the “Voting Period”) with respect to the Merger Agreement, the Plan of Merger, the Ancillary Documents and the Transactions; and
WHEREAS, in connection with the Merger Agreement, certain other shareholders of the Company are entering into voting agreements with Purchaser and the Company substantially similar in form and substance to this Agreement (each, an “Other Voting Agreement”).
NOW, THEREFORE, in consideration of the premises set forth above, which are incorporated in this Agreement as if fully set forth below, and intending to be legally bound hereby, the parties hereby agree as follows:
1. Payment. Subject to the terms and conditions set forth in this Agreement, contingent upon the undersigned’s compliance with this Agreement, as a condition to, an inducement for and in consideration for the willingness of Purchaser to enter into the Merger Agreement, and in consideration of a payment of USD $100.00 (the “Payment”) which the Company promises to pay to the Holder , (less any withholdings as required by all applicable laws), at or prior to the Closing, the Holder agrees to be bound by and to act in accordance with the terms and conditions of this Agreement. The Payment may be made by the Company in the form of a check payable to the Holder and delivered to the address set forth below the Holder’s signature on the signature page of this Agreement or by wire transfer to a bank account designated by the Holder.
2. Covenant to Vote in Favor of Transactions. In exchange for the consideration described in Section 1 above, the Holder agrees, with respect to all of the Shares:
(a) during Voting Period, at each meeting of the Company Shareholders, and in each written consent or resolutions of any of the Company Shareholders in which Holder is entitled to vote or consent, Holder hereby unconditionally and irrevocably agrees to be present for such meeting and vote (in person or by proxy), or consent to any action by written consent or resolution with respect to, as applicable, the Shares (i) in favor of, and adopt, the Merger, the Merger Agreement, the Plan of Merger, the Ancillary Documents, any amendments to the Organizational Documents of the Surviving Company, the Merger and all of the other Transactions (and any actions required in furtherance thereof), (ii) in favor of the election of the Company Directors, Purchaser Directors and Mutual Directors to the Post-Closing Purchaser Board and the to the board of directors of the Surviving Company as of the Closing, and the other matters set forth in Section 5.17 of the Merger Agreement and the Required Company Shareholder Approval, and (iii) to vote the Shares in opposition to: (A) any Alternative Transaction and any and all other proposals for the acquisition of the Company, that could reasonably be expected to delay or impair the ability of the Company to consummate the Merger, the Merger Agreement, the Plan of Merger or any of the Transactions, or which are in competition with or materially inconsistent with the Merger Agreement or the Ancillary Documents; (B) other than as contemplated by the Merger Agreement, any material change in (x) the present capitalization of the Company or any amendment of the Company’s Organizational Documents or (y) the Company’s corporate structure or business; or (C) 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 in any material respect the Transactions or would reasonably be expected to result in any of the conditions to the Company’s obligations under the Merger Agreement not being fulfilled.
(b) to execute and deliver all related documentation and take such other action reasonably required in support of the Merger, the Merger Agreement, the Plan of Merger, any Ancillary Documents (except that it is understood that the Holder will not execute, deliver, or be bound by the Non-Competition Agreement) and any of the Transactions as shall reasonably be requested by the Company or Purchaser in order to carry out the terms and provision of this Section 2, including executing and delivering an applicable Letter of Transmittal, Transmittal Documents, stock power in favor of Purchaser and covering the Shares, Company Certificate, any actions by written consent of the shareholders of the Company in connection with the Merger and the other Transactions presented to the Holder, any applicable Ancillary Documents (including without limitation the Lock-Up Agreement, however, it being understood that the Holder will not execute, deliver, or be bound by the Non-Competition Agreement);
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(c) not to deposit, and to cause their Affiliates not to deposit, except as provided in this Agreement, any Shares owned by the Holder or his/her/its Affiliates in a voting trust or subject any Shares to any arrangement or agreement with respect to the voting of such Shares, unless specifically requested to do so by Purchaser in connection with the Merger Agreement, the Plan of Merger, the Ancillary Documents and any of the Transactions;
(d) except as contemplated by the Merger Agreement or the Ancillary Documents, make, or in any manner participate in, directly or indirectly, a “solicitation” of “proxies” or consents (as such terms are used in the rules of the SEC) or powers of attorney or similar rights to vote, or seek to advise or influence any Person with respect to the voting of, any Company Shares in connection with any vote or other action with respect to the Transactions, other than to recommend that Holders of the Company vote in favor of adoption of the Merger Agreement and the Transactions, the election of directors as contemplated by Section 5.17 of the Merger Agreement and any other proposal the approval of which is a condition to the obligations of the parties under the Merger Agreement (and any actions reasonably required in furtherance thereof and otherwise as expressly provided by Section 2 of this Agreement); and
(e) to refrain from exercising any dissenters’ rights or rights of appraisal under applicable law at any time with respect to the Merger, the Merger Agreement, the Plan of Merger, the Ancillary Documents and any of the Transactions, including without limitation pursuant to Section 238 of Cayman Law.
For the avoidance of any doubt, without limiting any rights or remedies of the parties available under this Agreement or applicable Law, in the event the Holder does not comply with the provisions of this Section 2, then neither the Payment nor any portion thereof shall be payable or otherwise owed to the Holder and the Holder shall not have any rights under Section 1 hereof, but the provisions of Sections 2 et seq. shall continue to apply and be effective.
3. Other Covenants.
(a) No Transfers. Holder agrees that during the Voting Period it shall not without Purchaser’s prior written consent, sell, transfer, assign or otherwise dispose of (including by gift) (collectively, a “Transfer”), or enter into any contract with respect to, or consent to, a Transfer of, any or all of the Shares unless the recipient of such Transfer or contract or consent for Transfer agrees in writing with Purchaser and the Company to be bound by the terms of this Agreement applicable to the Holder. The Company hereby agrees that it shall not permit any Transfer of the Shares in violation of this Agreement.
(b) Changes to Shares. In the event of a stock dividend or distribution, or any change in the Company Shares by reason of any stock dividend or distribution, split-up, recapitalization, combination, conversion, exchange of shares or the like, the term “Shares” shall be deemed to refer to and include the Shares as well as all such stock dividends and distributions and any securities into which or for which any or all of the Shares may be changed or exchanged or which are received in such transaction.
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(c) Compliance with Merger Agreement. Holder agrees to not during the Voting Period take or agree or commit to take any action that would make any representation and warranty of Holder contained in this Agreement inaccurate in any material respect. Holder further agrees that it shall use its commercially reasonable efforts to cooperate with Purchaser to effect the Merger Agreement, all other Transactions, the Ancillary Documents (except that it is understood that the Holder will not execute, deliver, or be bound by the Non-Competition Agreement) and the provisions of this Agreement. During the Voting Period, Holder shall not authorize or permit any of its Representatives to, directly or indirectly, take any action that the Company is prohibited from taking pursuant to Section 5.7 of the Merger Agreement.
(d) Proxy Statement. During the Voting Period, Holder agrees to provide to Purchaser and its Representatives any information regarding Holder or the Shares that is reasonably requested by Purchaser or its Representatives for inclusion in the Proxy Statement.
(e) Publicity. Holder shall not issue any press release or otherwise make any public statements with respect to the transactions contemplated herein without the prior written approval of the Company and Purchaser (not to be unreasonably withheld, conditioned or delayed). Holder hereby authorizes the Company and Purchaser to publish and disclose in any announcement or disclosure required by the SEC, the Nasdaq or the Proxy Statement (including without limitation all documents and schedules filed with the SEC in connection with the foregoing), Holder’s identity and ownership of the Shares and the nature of Holder’s commitments and agreements under this Agreement, the Merger Agreement, the Letter of Transmittal, the Transmittal Documents, and any other Ancillary Documents.
4. Representations and Warranties of Holder. Holder hereby represents and warrants to Purchaser as follows:
(a) Binding Agreement. Holder (i) if a natural person, is of legal age to execute this Agreement and is legally competent to do so and (ii) if not a natural person, is (A) a corporation, limited liability company, company or partnership duly organized and validly existing under the laws of the jurisdiction of its organization and (B) has all necessary power and authority to execute and deliver this Agreement, to perform its obligations hereunder and to consummate the transactions contemplated hereby. If Holder is not a natural person, the execution and delivery of this Agreement, the performance of its obligations hereunder and the consummation of the transactions contemplated hereby by Holder has been duly authorized by all necessary corporate, limited liability or partnership action on the part of Holder, as applicable. This Agreement, assuming due authorization, execution and delivery hereof by the other parties hereto, constitutes a legal, valid and binding obligation of Holder, enforceable against Holder in accordance with its terms (except as such enforceability may be limited by bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other similar laws of general applicability relating to or affecting creditor’s rights, and to general equitable principles). Holder understands and acknowledges that Purchaser is entering into the Merger Agreement in reliance upon the execution and delivery of this Agreement by Holder.
(b) Ownership of Shares. As of the date hereof, Holder has beneficial ownership over the type and number of the Shares set forth under Holder’s name on the signature page hereto, is the lawful owner of such Shares, has the sole power to vote or cause to be voted such Shares, and has good and valid title to such Shares, free and clear of any and all pledges, mortgages, encumbrances, charges, proxies, voting agreements, liens, adverse claims, options, security interests and demands of any nature or kind whatsoever, other than those imposed by this Agreement, applicable securities Laws or the Company’s Organizational Documents, as in effect on the date hereof. There are no claims for finder’s fees or brokerage commission or other like payments in connection with this Agreement or the transactions contemplated hereby payable by Holder pursuant to arrangements made by such Holder. Except for the Shares set forth under Holder’s name on the signature page hereto, as of the date of this Agreement, Holder is not a beneficial owner or recordholder of any: (i) equity securities of the Company, (ii) securities of the Company having the right to vote on any matters on which the holders of equity securities of the Company may vote or which are convertible into or exchangeable for, at any time, equity securities of the Company, or (iii) options or other rights to acquire from the Company any equity securities or securities convertible into or exchangeable for equity securities of the Company.
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(c) No Conflicts. No filing with, or notification to, any Governmental Authority, and no consent, approval, authorization or permit of any other person is necessary for the execution of this Agreement by Holder, the performance of its obligations hereunder or the consummation by it of the transactions contemplated hereby. None of the execution and delivery of this Agreement by Holder, the performance of its obligations hereunder or the consummation by it of the transactions contemplated hereby shall (i) conflict with or result in any breach of the Organizational Documents of Holder, if applicable, (ii) result in, or give rise to, a violation or breach of or a default under any of the terms of any Contract or obligation to which Holder is a party or by which Holder or any of the Shares or its other assets may be bound, or (iii) violate any applicable Law or Order, except for any of the foregoing in clauses (i) through (iii) as would not reasonably be expected to impair Holder’s ability to perform its obligations under this Agreement in any material respect.
(d) No Inconsistent Agreements. Holder hereby covenants and agrees that Holder (i) has not entered into, nor will enter into at any time while this Agreement remains in effect, any voting agreement or voting trust with respect to the Shares inconsistent with Holder’s obligations pursuant to this Agreement, (ii) has not granted, nor will grant at any time while this Agreement remains in effect, a proxy, a consent or power of attorney with respect to the Shares and (iii) has not entered into any agreement or knowingly taken any action (nor will enter into any agreement or knowingly take any action) that would make any representation or warranty of Holder contained herein untrue or incorrect in any material respect or have the effect of preventing Holder from performing any of its material obligations under this Agreement.
5. Miscellaneous.
(a) Termination. Notwithstanding anything to the contrary contained herein, this Agreement shall automatically terminate, and none of Purchaser, the Company or Holder shall have any rights or obligations hereunder, upon the earliest to occur of (i) the mutual written consent of Purchaser, the Company and Holder, (ii) the Closing Date (following the performance of the obligations of the parties hereunder required to be performed on the Closing Date), (iii) the date of termination of the Merger Agreement in accordance with its terms, (iv) July 20, 2017 and (v) any Other Voting Agreement is terminated without the consent of Holder (such consent not to be unreasonably withheld, delayed or conditioned). The termination of this Agreement shall not prevent any party hereunder from seeking any remedies (at law or in equity) against another party hereto or relieve such party from liability for such party’s breach of any terms of this Agreement. Notwithstanding anything to the contrary herein, the provisions of Section 5(a) shall survive the termination of this Agreement.
(b) Binding Effect; Assignment. This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the parties hereto and their respective permitted successors and assigns. This Agreement and all obligations of the Holder are personal to the Holder and may not be transferred or delegated by the Holder at any time. Purchaser may freely assign any or all of its rights under this Agreement, in whole or in part, to any successor entity (whether by merger, consolidation, equity sale, asset sale or otherwise) without obtaining the consent or approval of the Holder.
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(c) Third Parties. Nothing contained in this Agreement or in any instrument or document executed by any party in connection with the transactions contemplated hereby shall create any rights in, or be deemed to have been executed for the benefit of, any person that is not a party hereto or thereto or a successor or permitted assign of such a party.
(d) Governing Law; Jurisdiction. This Agreement and any dispute or controversy arising out of or relating to this Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to the conflict of law principles thereof. All Actions arising out of or relating to this Agreement shall be heard and determined exclusively in any state or federal court located in New York, New York (or in any court in which appeal from such courts may be taken) (the “Specified Courts”). Each party hereto hereby (i) submits to the exclusive jurisdiction of any Specified Court for the purpose of any Action arising out of or relating to this Agreement brought by any party hereto and (ii) irrevocably waives, and agrees not to assert by way of motion, defense or otherwise, in any such Action, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that the Action is brought in an inconvenient forum, that the venue of the Action is improper, or that this Agreement or the transactions contemplated hereby may not be enforced in or by any Specified Court. Each party agrees that a final judgment in any Action shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by Law. Each party irrevocably consents to the service of the summons and complaint and any other process in any other action or proceeding relating to the transactions contemplated by this Agreement, on behalf of itself, or its property, by personal delivery of copies of such process to such party at the applicable address set forth or referred to in Section 5(g). Nothing in this Section 5(d) shall affect the right of any party to serve legal process in any other manner permitted by applicable law.
(e) WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HERETO (i) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SEEK TO ENFORCE THAT FOREGOING WAIVER AND (ii) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 5(e).
(f) Interpretation. The titles and subtitles used in this Agreement are for convenience only and are not to be considered in construing or interpreting this Agreement. In this Agreement, unless the context otherwise requires: (i) any pronoun used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural and vice versa; (ii) the words “herein,” “hereto,” and “hereby” and other words of similar import in this Agreement shall be deemed in each case to refer to this Agreement as a whole and not to any particular section or other subdivision of this Agreement; and (iii) the term “or” means “and/or”. The parties have participated jointly in the negotiation and drafting of this Agreement. Consequently, in the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement.
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(g) Notices. All notices, consents, waivers and other communications hereunder shall be in writing and shall be deemed to have been duly given when delivered (i) in person, (ii) by facsimile or other electronic means, with affirmative confirmation of receipt, (iii) one Business Day after being sent, if sent by reputable, nationally recognized overnight courier service or (iv) three (3) Business Days after being mailed, if sent by registered or certified mail, pre-paid and return receipt requested, in each case to the applicable party at the following addresses (or at such other address for a party as shall be specified by like notice):
If to Purchaser, to:
Pacific Special Acquisition Corp. 000 Xxxxxx Xxxxx Xxxx The World Plaza, 27th Floor Pudong, Shanghai, China Attn: Yaqi Feng Facsimile No.: x00-00-0000-0000 Telephone No: x00-00-0000-0000 Email: xxxxxx000@000.xxx and xxxxxx@xxxxx.xxx |
With a copy to (which shall not constitute notice):
Ellenoff Xxxxxxxx & Schole LLP 1345 Avenue of the Xxxxxxxx, 00xx Xxxxx Xxx Xxxx, Xxx Xxxx 00000 Attention: Xxxxxxx Xxxxxxxx, Esq. Xxxxxx Xxxxxxxxx, Esq. Facsimile No.: (000) 000-0000 Telephone No.: (000) 000-0000 Email: xxxxxxxx@xxxxxx.xxx xxxxxxxxxx@xxxxxx.xxx
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If to Company, to:
Borqs International Holding Corp Tower A, Building B23 Universal Business Park Xx. 00 Xxxxxxxxxxxx Xxxx Xxxxxxxx Xxxxxxxx, Xxxxxxx 000000, Xxxxx Attn: Xxx Xxxx, CEO Facsimile No.: 00-00-0000-0000 Telephone No: 00-00-0000-0000 Email: xxx.xxxx@xxxxx.xxx
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With a copy to (which shall not constitute notice):
Fenwick & West LLP 000 Xxxxxxxxxx Xxxxxx Xxxxxxxx Xxxx, XX 00000 Attention: Xxx Xxxx Facsimile No.: (000) 000-0000 Telephone No.: (000) 000-0000 Email: xxxxx@xxxxxxx.xxx |
If to the Holder, to: the address set forth under Holder’s name on the signature page hereto, with a copy (which will not constitute notice) to, if not the party sending the notice, each of the Company and Purchaser (and each of their copies for notices hereunder).
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(h) Amendments and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance, and either retroactively or prospectively) only with the written consent of Purchaser, the Company and the Holder. No failure or delay by a party in exercising any right hereunder shall operate as a waiver thereof. No waivers of or exceptions to any term, condition, or provision of this Agreement, in any one or more instances, shall be deemed to be or construed as a further or continuing waiver of any such term, condition, or provision.
(i) Severability. In case any provision in this Agreement shall be held invalid, illegal or unenforceable in a jurisdiction, such provision shall be modified or deleted, as to the jurisdiction involved, only to the extent necessary to render the same valid, legal and enforceable, and the validity, legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired thereby nor shall the validity, legality or enforceability of such provision be affected thereby in any other jurisdiction. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties will substitute for any invalid, illegal or unenforceable provision a suitable and equitable provision that carries out, so far as may be valid, legal and enforceable, the intent and purpose of such invalid, illegal or unenforceable provision.
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(j) Specific Performance. Holder acknowledges that its obligations under this Agreement are unique, recognizes and affirms that in the event of a breach of this Agreement by the Holder, money damages may be inadequate and Purchaser may have not adequate remedy at law, and agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed by the Holder in accordance with their specific terms or were otherwise breached. Accordingly, Purchaser shall be entitled to seek an injunction or restraining order to prevent breaches of this Agreement by the Holder and to seek to enforce specifically the terms and provisions hereof, without the requirement to post any bond or other security or to prove that money damages would be inadequate, this being in addition to any other right or remedy to which such party may be entitled under this Agreement, at law or in equity.
(k) Expenses. Each party shall be responsible for its own fees and expenses (including without limitation the fees and expenses of investment bankers, accountants and counsel) in connection with the entering into of this Agreement, the performance of its obligations hereunder and the consummation of the transactions contemplated hereby; provided, that in the event of any Action arising out of or relating to this Agreement, the non-prevailing party in any such Action will pay its own expenses and the reasonable documented out-of-pocket expenses, including without limitation reasonable attorneys' fees and costs, reasonably incurred by the prevailing party.
(l) No Partnership, Agency or Joint Venture. This Agreement is intended to create a contractual relationship between Holder and the Company, on the one hand, and Purchaser, on the other hand, and is not intended to create, and does not create, any agency, partnership, joint venture or any like relationship among the parties hereto or among any other Company shareholders entering into voting agreements with Purchaser. Holder is not affiliated with any other holder of Company Shares entering into a voting agreement with Purchaser in connection with the Merger Agreement and has acted independently regarding its decision to enter into this Agreement and regarding its investment in the Company. Nothing contained in this Agreement shall be deemed to vest in Purchaser any direct or indirect ownership or incidence of ownership of or with respect to any Shares.
(m) Further Assurances. From time to time, at another party’s request and without further consideration, each party shall execute and deliver such additional documents and take all such further action as may be reasonably necessary or desirable to consummate the transactions contemplated by this Agreement.
(n) Entire Agreement. This Agreement (together with the Merger Agreement to the extent referred to herein) constitutes the full and entire understanding and agreement among the parties with respect to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties is expressly canceled; provided, that, for the avoidance of doubt, the foregoing shall not affect the rights and obligations of the parties under the Merger Agreement or any Ancillary Document. Notwithstanding the foregoing, nothing in this Agreement shall limit any of the rights or remedies of Purchaser or any of the obligations of the Holder under any other agreement between the Holder and Purchaser or any certificate or instrument executed by the Holder in favor of Purchaser, and nothing in any other agreement, certificate or instrument shall limit any of the rights or remedies of Purchaser or any of the obligations of the Holder under this Agreement.
(o) Counterparts; Facsimile. This Agreement may also be executed and delivered by facsimile or electronic signature or by email in portable document format in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
[Remainder of Page Intentionally Left Blank; Signature Page Follows]
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IN WITNESS WHEREOF, the parties have executed this Voting Agreement as of the date first written above.
| Purchaser: | ||
| Pacific Special Acquisition Corp. | ||
| By: | ||
| Name: | ||
| Title: | ||
| The Company: | ||
| Borqs International Holding Corp. | ||
| By: | ||
| Name: | ||
| Title: | ||
| The Holder: | ||
| Name of Holder: [_____________________________________________________] | ||
| By: | ||
| Name: | ||
| Title: |
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Number and Type of Company Shares:
______________________________________
______________________________________
______________________________________
Address for Notice:
Address: |
{Signature Page to Voting Agreement]
