Document:

EX-10.2

 Exhibit 10.2 

BENESSERE CAPITAL ACQUISITION CORP. 

78 SW 7th Street, Suite 500 
 Miami,
FL 33130 
 June 24, 2022 

 

 ARC Global Investments LLC 

78 SW 7th Street, Suite 500 
 Miami, FL 33130 

Attn: Patrick Orlando 
 Patrick Orlando 

c/o Benessere Capital Acquisition Corp. 
 78 SW 7th Street, Suite
500 
 Miami, FL 33130 
 Guillermo Cruz 

c/o Benessere Capital Acquisition Corp. 
 78 SW 7th Street, Suite
500 
 Miami, FL 33130 
 Juan Fernandez 

c/o Benessere Capital Acquisition Corp. 
 78 SW 7th Street, Suite
500 
 Miami, FL 33130 
 Francisco O. Flores 

c/o Benessere Capital Acquisition Corp. 
 78 SW 7th Street, Suite
500 
 Miami, FL 33130

 Joseph A. Porello 

c/o Benessere Capital Acquisition Corp. 
 78 SW 7th Street, Suite
500 
 Miami, FL 33130 
 Rene Gerardo Sagebien 

c/o Benessere Capital Acquisition Corp. 
 78 SW 7th Street, Suite
500 
 Miami, FL 33130 
 Justin L. Shaner 

c/o Benessere Capital Acquisition Corp. 
 78 SW 7th Street, Suite
500 
 Miami, FL 33130 
 Eric Swider 

c/o Benessere Capital Acquisition Corp. 
 78 SW 7th Street, Suite
500 
 Miami, FL 33130 
 Javier Tora 

c/o Benessere Capital Acquisition Corp. 
 78 SW 7th Street, Suite
500 
 Miami, FL 33130] 

 

  

	 	Re:	 Amendment of the Insider Letter 

Ladies and Gentlemen: 
 Reference is made to
that certain letter agreement, dated January 4, 2021 (the “Insider Letter”), by and among, Benessere Capital Acquisition Corp., a Delaware corporation (the “Company”), Arc Global Investments LLC, a Delaware limited liability
company (the “Sponsor”), and the directors, officers or other initial shareholders of the Company named therein (the “Insiders”), pursuant to which, among other matters, the Sponsor and the Insiders agreed in Section 9
thereof, that the Sponsor, an affiliate of the Sponsor or certain officers and directors of the Company may make non-interest bearing loans to the Company to finance transaction costs in connection with the
Company’s initial business combination (the “Business Combination”) and that, at the option of the lender, up to $1,500,000 of such loans may be convertible into units of the Company, at a price of $10.00 per unit, upon consummation
of the Business Combination. Any term used but not defined in this letter agreement (this “Amendment”) will have the meaning ascribed to such term in the Insider Letter and the Merger Agreement (defined below). 

  
 1 

 On November 23, 2021, the Company entered into that certain Agreement and Plan of
Merger (as amended, including by the First Amendment to Agreement and Plan of Merger, dated June 5, 2022, the “Merger Agreement”), by and among the Company, BCAC Holdings Inc., a Delaware corporation
(“Pubco”), BCAC Purchaser Merger Sub Inc., a Delaware corporation and a wholly-owned subsidiary of Pubco (“Purchaser Merger Sub”), BCAC Company Merger Sub LLC, a Delaware limited liability company and
a wholly-owned subsidiary of Pubco (“Company Merger Sub”), BCAC Purchaser Rep LLC, a Delaware limited liability company, in the capacity as the Purchaser Representative thereunder, Jorge Arevalo in the capacity as the Seller
Representative thereunder and eCombustible Energy LLC, a Delaware limited liability company (“eCombustible”), pursuant to which, among other matters, (i) Purchaser Merger Sub will merge with and into the Company, with
the Company continuing as the surviving entity, and with security holders of the Company receiving substantially equivalent securities of Pubco (the “Purchaser Merger”), and (ii) Company Merger Sub will merge with and
into eCombustible, with eCombustible continuing as the surviving entity (the “Company Merger”, and together with the Purchaser Merger, the “Mergers”), and with equity holders of the eCombustible
receiving shares of common stock of Pubco, and as a result of which Mergers, among other matters, the Company and eCombustibel will become wholly-owned subsidiaries of Pubco and Pubco will become a publicly traded company, all upon the terms and
subject to the conditions set forth in the Merger Agreement and in accordance with the applicable provisions of the Delaware General Corporation Law, as amended, and the Delaware Limited Liability Company Act, as amended. 

In connection with the Merger Agreement, each of the Sponsor and the Insiders, have agreed to revise the terms of the Insider Letter, to
increase the aggregate principal amount of loans by the Sponsor, its Affiliates or the officers and directors of the Company that can be converted into units of the Company, from $1,500,000 to $5,000,000, provided that such securities are issued
solely for the purpose of funding (i) extension expenses, and (ii) expenses that are related to the closing of the business combination with eCombustible. 

The Insider Letter may be changed, amended or modified by a written instrument executed by the Company and each officer or director that is
the subject of any such change, amendment modification or waiver. 
 For good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the Company and each Primary Initial Shareholder hereby agrees as follows: 
  

	1.	 Amendments to Insider Letter. The Parties hereby agree to the following amendments to the Insider
Letter: 

  

	 	(a)	 The defined terms in this Amendment, and the definitions incorporated by reference from the Merger Agreement,
are hereby added to the Insider Letter as if they were set forth therein. 

  

	 	(b)	 The second to last sentence of Section 9 of the Insider Letter is hereby amended by deleting it in its
entirety and replacing it with the following: 

 “ Up to $5,000,000 of such loans may be convertible into units, at a
price of $10.00 per unit at the option of the lender, upon consummation of the initial Business Combination; provided that such securities are issued solely for the purpose of funding (i) extension expenses, and (ii) expenses that are
related to the closing of the initial Business Combination with eCombustible.” 

  
 2 

	2.	 Miscellaneous. Except as expressly provided in this Amendment, all of the terms and provisions in the
Insider Letter are and shall remain in full force and effect, on the terms and subject to the conditions set forth therein. This Amendment does not constitute, directly or by implication, an amendment or waiver of any provision of the Insider
Letter, or any other right, remedy, power or privilege of any party thereto, except as expressly set forth herein. Any reference to the Insider Letter in the Insider Letter or any other agreement, document, instrument or certificate entered into or
issued in connection therewith shall hereinafter mean the Insider Letter, as amended by this Amendment (or as the Insider Letter may be further amended or modified in accordance with the terms thereof). The terms of this Amendment shall be governed
by, enforced and construed and interpreted in a manner consistent with the provisions of the Insider Letter, including Sections 18 thereof. 

{Remainder of Page Intentionally Left Blank; Signature page follows} 

  
 3 

 Please indicate your agreement to the foregoing by signing in the space provided below. 

 

			
	BENESSERE CAPITAL ACQUISITION CORP.
		
	By:	 	 /s/ Patrick Orlando

	Name: Patrick Orlando
	Title: Chief Executive Officer

  

			
	Accepted and agreed, effective as of the date first set forth above:
	
	ARC GLOBAL INVESTMENTS LLC
		
	By:	 	 /s/ Patrick Orlando

	Name: Patrick Orlando
	Title: Managing Member
	
	 /s/ Patrick Orlando

	Patrick Orlando
	
	 /s/ Guillermo Cruz

	Guillermo Cruz
	
	 /s/ Juan Fernandez

	Juan Fernandez
	
	 /s/ Francisco O. Flores

	Francisco O. Flores
	
	 /s/ Joseph A. Porello

	Joseph A. Porello
	
	 /s/ Rene Gerardo Sagebien

	Rene Gerardo Sagebien
	
	 /s/ Justin L. Shaner

	Justin L. Shaner

 [Signature Page to Amendment to Insider Letter] 

			
	 /s/ Eric Swider

	 Eric Swider

	
	 /s/ Javier Tora

	 Javier Tora

	
	 Accepted and agreed, effective as of the date first set forth
above:

	
	 EF HUTTON, a division of Benchmark Investments, LLC

		
	 By:
	 	 /s/ Sam Fleischman

	 Name: Sam Fleischman

	 Title: Supervisory Principal

 [Signature Page to Amendment to Insider Letter]Document

Exhibit 10.1

AMENDMENT THREE TO THE 
FEDERAL HOME LOAN BANK OF ATLANTA
BENEFIT EQUALIZATION PLAN

    THIS AMENDMENT to the Federal Home Loan Bank of Atlanta Benefit Equalization Plan, as amended and restated effective January 1, 2018 (the “Plan”) is adopted by the Board of Directors (the “Board”) of the Federal Home Loan Bank of Atlanta (the “Bank”) effective as of the date set forth herein:

WITNESSETH:

    WHEREAS, the Bank maintains the Plan, and such Plan is currently in effect; and

    WHEREAS, pursuant to Section 9.01 of the Plan, the Board may amend the Plan at any time;

    NOW, THEREFORE, the Board hereby amends the Plan as follows, effective July 2, 2022:

Article 1 is hereby amended as follows:

Section 1.10 is deleted and replaced as follows:

    1.10 “Compensation” means total compensation as defined in the Savings Plan.

A new section 1.12 is inserted as follows, and all sections thereafter are renumbered sequentially thereafter:

    1.12 “Defined Benefit Equalization Plan” means the extra benefits provided to certain Eligible Executives in accordance with Article III of the Plan. 

Article 5 is hereby deleted and replaced as follows:

Article V. Amount and Payment of Executive Retirement Plan Benefits
5.01    Eligible Executives who are not eligible to accrue benefits under the Defined Benefit Equalization Plan, (each an “Executive Retirement Plan Participant”), shall receive additional executive retirement benefits under this Article V as follows, which shall be in addition to any contributions provided under Section 4.03. For clarification, such Executive Retirement Plan Participant shall, for a given Plan Year, receive the benefit described under paragraphs (a), (b), (c), (d) or (e), below as applicable.

(a)    Provided that an Executive Retirement Plan Participant has met the requirements to receive elective deferral and employer contributions and other benefits as 

set forth in Article IV, above, an eligible Executive Retirement Plan Participant hired or promoted to chief executive officer on or after April 1, 2021, shall receive an Executive Retirement Plan Benefit equal to (i) plus (ii) below:

(i)20% of any bonuses paid in the current Plan Year to an eligible Executive Retirement Plan Participant;  
 
(ii)14% of such Executive Retirement Plan Participant’s Compensation earned during the current Plan Year, offset by the amount of any employer non-elective contribution contributed on behalf of such Executive Retirement Plan Participant under Section 4.03(b) of this Plan, and offset by the amount of any employer non-elective contribution contributed on behalf of such Executive Retirement Plan Participant under the Savings Plan.
    (b)    Provided that an Executive Retirement Plan Participant has met the requirements to receive elective deferral and employer contributions and other benefits as set forth in Article IV, above, an eligible Executive Retirement Plan Participant who is incumbent at the executive vice president level and occupies the Chief Risk Officer position as of July 1, 2022, shall receive an Executive Retirement Plan Benefit equal to (i) plus (ii) below:
(i)20% of any bonuses paid in the current Plan Year to an eligible Executive Retirement Plan Participant;
(ii)14% of such Executive Retirement Plan Participant’s Compensation earned during the current Plan Year, offset by the amount of any employer non-elective contribution contributed on behalf of such Executive Retirement Plan Participant under Section 4.03(b) of this Plan, and offset by the amount of any employer non-elective contribution contributed on behalf of such Executive Retirement Plan Participant under the Savings Plan;
    (c)    Provided that an Executive Retirement Plan Participant has met the requirements to receive elective deferral and employer contributions and other benefits as set forth in Article IV, above, an eligible Executive Retirement Plan Participant who is hired or promoted to the executive vice president level or above on or after August 1, 2022, and who is not accruing benefits under the Retirement Fund, shall receive an Executive Retirement Plan Benefit equal to (i) plus (ii) below:
(i)15% of any bonuses paid in the current Plan Year to an eligible Executive Retirement Plan Participant;
(ii)9% of such Executive Retirement Plan Participant’s Compensation earned during the current Plan Year, offset by the amount of any employer non-elective contribution contributed on behalf of such Executive Retirement Plan Participant under Section 4.03(b) of this Plan, and offset by the amount of any employer non-elective contribution contributed on behalf of such Executive Retirement Plan Participant under the Savings Plan;

    (d)    Provided that an Executive Retirement Plan Participant has met the requirements to receive elective deferral and employer contributions and other benefits as set forth in Article IV, above, an eligible Executive Retirement Plan Participant who is hired or promoted to the executive vice president level or above on or after August 1, 2022, and who is accruing benefits under the Retirement Fund, shall receive an Executive Retirement Plan Benefit equal to (i) plus (ii) below:
(i)12% of any bonuses paid in the current Plan Year to an eligible Executive Retirement Plan Participant;
(ii)6% of such Executive Retirement Plan Participant’s Compensation earned during the current Plan Year, offset by the amount of any employer non-elective contribution contributed on behalf of such Executive Retirement Plan Participant under Section 4.03(b) of this Plan, and offset by the amount of any employer non-elective contribution contributed on behalf of such Executive Retirement Plan Participant under the Savings Plan;
 (e)    Provided that an Executive Retirement Plan Participant has met the requirements to receive elective deferral and employer contributions and other benefits as set forth in Article IV, above, an eligible Executive Retirement Plan Participant at the senior vice president level shall receive an Executive Retirement Plan Benefit equal to (i) plus (ii) below:

(i)10% of any bonuses paid in the current Plan Year to an eligible Executive Retirement Plan Participant;
(ii)4% of such Executive Retirement Plan Participant’s Compensation earned during the current Plan Year, offset by the amount of any employer non-elective contribution contributed on behalf of such Executive Retirement Plan Participant under Section 4.03(b) of this Plan, and offset by the amount of any employer non-elective contribution contributed on behalf of such Executive Retirement Plan Participant under the Savings Plan.

5.02    An Executive Retirement Plan Participant shall be vested in the benefits described in this Article V in the same manner as described in Section 4.06 above, provided however that any contributions under Section 5.01 shall become vested only after the Executive Retirement Plan Participant completes two years of service. Benefits described in this Article V shall be distributed in accordance with the same distribution elections made by an Executive Retirement Plan Participant in accordance with Article IV above.

*    *    *    *    *

IN WITNESS WHEREOF, the Bank through and by its board of directors has adopted this Amendment on the date shown below, but effective as of the date indicated above.  

FEDERAL HOME LOAN BANK OF ATLANTA

By:/s/ Dawn Gehring                                   
Dawn Gehring
Senior Vice President, Chief Human Resources Officer

Date: July 28, 2022
            
ATTEST:

/s/ Mary M. Young               
Sr. Deputy Asst. Corporate Secretary

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