BUSINESS COMBINATION AGREEMENT - FIRST AMENDMENT
Exhibit 4.2
BUSINESS COMBINATION AGREEMENT - FIRST AMENDMENT
THIS FIRST AMENDMENT is made effective as of the 28th day of May, 2020,
AMONG:
LINCOLN ACQUISITIONS CORP., a corporation incorporated under the laws of the Province of British Columbia (the “Acquiror”};
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BYND - BEYOND SOLUTIONS LTD., a corporation incorporated under the laws of Israel (“BYND”);
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1232986 B.C. LTD., a corporation incorporated under the laws of British Columbia (“Fundingco”);
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each of the BYND Shareholders described in the BCA (as hereinafter defined);
WHEREAS:
A. Each of the parties hereto is a party to a business combination agreement dated the 16th day of December, 2019 (the “BCA”); and
B. Each of the parties to the BCA wish to amend certain terms and conditions of the BCA, as hereinafter provided;
NOW THEREFORE THIS AGREEMENT WITNESSES that, in consideration of the covenants and agreements herein contained, the parties hereto do covenant and agree each with the other as follows:
1. | Capitalized terms not otherwise defined herein shall have the meanings ascribed thereto in the BCA. |
2. | Section 1.l(y) of the BCA is hereby deleted and replaced with the following: |
“(y) | “Dosing Date” means October 15, 2020 or such other date upon which Acquiror, BYND, Fundingco and the BYND Shareholders mutually agree;” |
3. | The first paragraph of Section 11.2 of the BCA is hereby amended by deleting the words “Article 8” and replacing them with “Article 7”. |
4. | All of the remaining terms of the BCA otherwise remain in effect and are not altered by this First Amendment |
5. | Notwithstanding the foregoing, this Agreement is conditional upon the receipt by Xxxx Xxxx Law Corporation for the Acquiror, on or before Friday, June 5, 2020, of an additional deposit of ($17,500. This condition is for the benefit of the Acquiror and may be waived by it, in writing. |
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IN WITNESS WHEREOF the parties have hereunto set their hands and seals as of the Effective Date.
LINCOLN ACQUISITIONS CORP. | BYND - BEYOND SOLUTIONS LTO. | |||
per: | /s/Xxxxxxx Xxxxxxx | Per: | ||
Xxxxxxx Xxxxxxx, President | Moti Maram, President | |||
1232986 B.C. LTO. | ||||
per: | /s/Xxxx Xxxxxx | |||
Xxxx Xxxxxx, President | Moti Marad; on his own behalf and in his capacity as attorney-in fact on behalf of the BYND Shareholders |