Exhibit 10.6


 


FORM OF WARRANT ASSUMPTION AGREEMENT


 


ASSIGNMENT, ASSUMPTION AND AMENDMENT AGREEMENT


 


This Assignment, Assumption
and Amendment Agreement (this “Agreement”) is made as of [●], 2022, by and among Endurance Acquisition Corp.,
a Cayman Islands exempted company (the “Company”), SatixFy Communications Ltd., a limited liability company organized
under the laws of the State of Israel (“TopCo”), and Continental Stock Transfer & Trust Company, a New York
corporation (the “Warrant Agent”).


 


WHEREAS, the Company
and the Warrant Agent are parties to that certain Warrant Agreement, dated as of September 14, 2021, and filed with the United States
Securities and Exchange Commission on September 17, 2021 (the “Existing Warrant Agreement”);


 


WHEREAS, capitalized
terms used herein, but not otherwise defined, shall have the meanings given to such terms in the Existing Warrant Agreement;


 


WHEREAS, pursuant
to the Existing Warrant Agreement, the Company issued (i) 7,630,000 warrants to the Sponsor and Cantor Fitzgerald & Co.
(collectively, the “Private Placement Warrants”) to purchase the Company’s Class A Ordinary Shares, par
value $0.0001 per share (“Class A Shares”), with each Private Placement Warrant being exercisable for one Class A
Ordinary Share and with an exercise price of $11.50 per share, and (ii) 10,000,000 warrants as part of units to public investors
in the Public Offering (the “Public Warrants” and together with the Private Placement Warrants, the “Warrants”)
to purchase Class A Ordinary Shares, with each whole Public Warrant being exercisable for one Class A Ordinary Share and with
an exercise price of $11.50 per share;


 


WHEREAS, on March
8, 2022, that certain Business Combination Agreement (the “BCA”) was entered into by and among the Company,
SatixFy MS, a Cayman Islands exempted company (“Merger Sub”), and TopCo;


 


WHEREAS, all of the
Warrants are governed by the Existing Warrant Agreement;


 


WHEREAS, pursuant
to the provisions of the BCA, Merger Sub will merge with and into the Company (the “Merger”), with the Company surviving
the Merger as a direct, wholly-owned subsidiary of TopCo. In accordance with the provisions of the BCA, each issued and outstanding ordinary
share of the Company will be exchanged for one ordinary share of TopCo, par value NIS 0.01 per share (“TopCo Ordinary Shares”);


 


WHEREAS, upon consummation
of the Merger, and as provided in Section 4.5 of the Existing Warrant Agreement, the Warrants will no longer be exercisable for
Class A Shares but instead will be exercisable (subject to the terms and conditions of the Existing Warrant Agreement as amended
hereby) for TopCo Ordinary Shares;


 


WHEREAS, the Board
of Directors of the Company has determined that the consummation of the transactions contemplated by the BCA will constitute a Business
Combination (as defined in the Recitals of the Existing Warrant Agreement);


 


[Signature Page to Warrant Assumption
Agreement]


 






    


     


    

 


WHEREAS, in connection
with the Merger, the Company desires to assign all of its right, title and interest in the Existing Warrant Agreement to TopCo and TopCo
wishes to accept such assignment; and


 


WHEREAS, Section 9.8
of the Existing Warrant Agreement provides that the Company and the Warrant Agent may amend the Existing Warrant Agreement without the
consent of any Registered Holder for the purpose of curing any ambiguity, or curing, correcting or supplementing any defective provision
contained therein or adding or changing any other provisions with respect to matters or questions arising under the Existing Warrant
Agreement as the Company and the Warrant Agent may deem necessary or desirable and that the Company and the Warrant Agent deem shall
not adversely affect the rights of the Registered Holders thereunder.


 


NOW, THEREFORE, in
consideration of the mutual agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, and intending to be legally bound hereby, the parties hereto agree as follows.


 


1.             Assignment
and Assumption; Consent.


 


1.1.            Assignment
and Assumption. The Company hereby assigns to TopCo all of the Company’s right, title and interest in and to the Existing Warrant
Agreement (as amended hereby) as of the Effective Time (as defined in the BCA) and TopCo hereby assumes, and agrees to pay, perform,
satisfy and discharge in full, as the same become due, all of the Company’s liabilities and obligations under the Existing Warrant
Agreement (as amended hereby) arising from and after the Effective Time.


 


1.2.            Consent.
The Warrant Agent hereby consents to the assignment of the Existing Warrant Agreement by the Company to TopCo pursuant to Section ‎1.1
hereof effective as of the Effective Time, and the assumption of the Existing Warrant Agreement by TopCo from the Company pursuant to
Section ‎1.1
hereof effective as of the Effective Time, and to the continuation of the Existing Warrant Agreement in full force and effect from and
after the Effective Time, subject at all times to the Existing Warrant Agreement (as amended hereby) and to all of the provisions, covenants,
agreements, terms and conditions of the Existing Warrant Agreement and this Agreement.


 


2.             Amendment
of Existing Warrant Agreement. The Company and the Warrant Agent hereby amend the Existing Warrant
Agreement (including all Exhibits thereto) as provided in this Section ‎2,
effective as of the Effective Time, and acknowledge and agree that the amendments to the Existing Warrant Agreement set forth in this
Section ‎2 are to provide for the delivery of Alternative
Issuance pursuant to Section 4.5 of the Existing Warrant Agreement (in connection with the Merger) and are necessary or desirable
and that such amendments do not adversely affect the rights of the Registered Holders thereunder.


 






    2


     


    

 


2.1.            Preamble.
The preamble on page one of the Existing Warrant Agreement is hereby amended by deleting “Endurance Acquisition Corp., a Cayman
Islands exempted company” and replacing it with “SatixFy Communications Ltd, a limited liability company organized under
the laws of the State of Israel”. As a result thereof, all references to the “Company” in the Existing Warrant Agreement
(including Exhibits thereto) shall be references to SatixFy Communications Ltd. rather than Endurance Acquisition Corp.


 


2.2.            Reference
to TopCo Shares. All references to “Ordinary Shares” in the Existing Warrant Agreement (including all Exhibits thereto)
shall mean “SatixFy Communications Ltd. Ordinary Shares” or “ordinary shares in the share capital of SatixFy Communications
Ltd.”


 


2.3.            Detachability
of the Warrants. Section 2.4 of the Existing Warrant Agreement is hereby deleted and replaced with the following: “[INTENTIONALLY
OMITTED”].


 


2.4.            References
to Business Combination. All references to “Business Combination” in the Existing Warrant Agreement (including all Exhibits
thereto) shall be references to the transactions contemplated by the Merger, and references to “the completion of the Business
Combination” and all variations thereof in the Existing Warrant Agreement (including all Exhibits thereto) shall be references
to the Merger Effective Time.


 


2.5.            Notice.
The address for notices to the Company set forth in Section 9.2 of the Existing Warrant Agreement is hereby amended and restated
in its entirety as follows:


 


SatixFy Communications Ltd.


12 Hamada St.,


Rehovot, 7670315


Israel


Attention: Yoav
Leibovitch


Email:         yoav@satixfy.com


 


3.             Miscellaneous
Provisions.


 


3.1.            Effectiveness
of this Agreement. Each of the parties hereto acknowledges and agrees that the effectiveness of this Agreement shall be expressly
subject to the occurrence of the Merger (as defined in the BCA) and shall automatically be terminated and shall be null and void if the
BCA shall be terminated for any reason.


 


3.2.            Successors.
All the covenants and provisions of this Agreement by or for the benefit of TopCo or the Warrant Agent shall bind and inure to the benefit
of their respective successors and assigns.


 


3.3.            Severability.
This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the
validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable
term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision as similar in terms to
such invalid or unenforceable provision as may be possible and be valid and enforceable.


 






    3


     


    

 


3.4.            Applicable
Law. The validity, interpretation and performance of this Agreement shall be governed in all respects by the laws of the State of
New York, without giving effect to conflict of law principles that would result in the application of the substantive laws of another
jurisdiction. The parties hereby agree that any action, proceeding or claim against a party arising out of or relating in any way to
this Agreement shall be brought and enforced in the courts of the State of New York or the United States District Court for the Southern
District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. Each of the parties hereby
waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum.


 


3.5.            Examination
of the Warrant Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the Warrant Agent
in the Borough of Manhattan, City and State of New York, for inspection by the registered holder of any Warrant. The Warrant Agent may
require any such holder to submit his Warrant for inspection by it.


 


3.6.            Counterparts.
This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all purposes
be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.


 


3.7.            Effect
of Headings. The section headings herein are for convenience only and are not part of this Agreement and shall not affect the interpretation
thereof.


 


3.8.            Entire
Agreement. This Agreement and the Existing Warrant Agreement, as modified by this Agreement, constitutes the entire understanding
of the parties and supersedes all prior agreements, understandings, arrangements, promises and commitments, whether written or oral,
express or implied, relating to the subject matter hereof, and all such prior agreements, understandings, arrangements, promises and
commitments are hereby canceled and terminated.


 


[Remainder of page intentionally left
blank.]


 






    4


     


    

 


IN WITNESS WHEREOF, the parties hereto have caused
this Agreement to be duly executed as of the date first above written.


 


	 	ENDURANCE ACQUISITION CORP.
	 	 
	 	 
		By:	 
	 	 	Name:  
	 	 	Title:    



 


[Signature Page to Warrant Assumption Agreement]


 






     


     


    

 


	 	SATIXFY COMMUNICATIONS LTD.
	 	 
	 	 
		By:	 
	 	 	Name: 
	 	 	Title:  



 


[Signature Page to Warrant Assumption Agreement]


 






     


     


    

 


	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent
	 
	 
		By:	 
	 	 	Name: 
	 	 	Title:  



 


[Signature Page to Warrant Assumption Agreement]


 






     


     


    

 


	 	Consented to in accordance with Section 3.27 of the Underwriting Agreement between Endurance Acquisition Corp. and Cantor Fitzgerald & Co., dated as of September 14, 2021:  
	 	 
	 	CANTOR FITZGERALD & CO.
	 	 
	 	 
		By:	
	 	 	Name: 
	 	 	Title: 




 


[Signature Page to Warrant Assumption Agreement]