Document:

Exhibit 10.17

 

AMENDMENT AND TERMINATION

OF THE

AMENDED AND RESTATED MILAN PARENT, LLC

2019 PHANTOM INCENTIVE EQUITY PLAN

_____________, 2021

 

Milan Parent, LLC, a Delaware
limited liability company (the “Company”), has previously adopted the Amended and Restated Milan Parent, LLC 2019
Phantom Incentive Equity Plan, (and as may be amended from time to time, the “Plan”). Section 6(b) of the
Plan allows the Board of Managers of the Company (the “Board”) to amend the Plan in certain respects from time to
time.

 

The Board has determined
that it is appropriate to amend and terminate the Plan effective as of the date Milan Laser Inc.’s registration statement on Form S-1
is declared effective, subject to the consummation of the initial public offering of Milan Laser Inc. Class A Common Stock (the
 “IPO”). In the event that the IPO is not consummated on or prior to December 31, 2021, this amendment and termination
shall be void ab initio.

 

The Plan, as revised by this
amendment and termination, constitutes the entire Plan as amended to date. Capitalized terms not defined herein shall have the meanings
assigned to them under the Plan. Notwithstanding any other provision in the Plan:

 

1.            The
definition of Payment Date in Appendix A of the Plan is hereby amended to add a final sentence that reads as follows:

 

“In addition, notwithstanding
any other provision of the Plan or the applicable Award Agreement, a Plan Termination (as defined in Section 6(k), below) shall
constitute a Payment Date.”

 

2.            The
definition of Phantom Unit Payment in Appendix A of the Plan is hereby amended to add the following new subsection (v):

 

“(v) Notwithstanding any
other provision of the Plan, if the Payment Date is due to a Plan Termination, the Phantom Unit Payment shall be distributed with respect
to all Phantom Units including such Phantom Units that are vested prior to or in connection with, such Plan Termination on or following
the 12-month anniversary of the Plan Termination. Such Phantom Unit Payment shall be distributed to the Participant within thirty (30)
days following the 12-month anniversary of the Plan Termination (the “Plan Termination Distribution Date”); provided
that no such distribution shall be made if the Plan Termination Distribution Date and associated distributions are determined by the
Board to be proximate to a downturn in the Company’s financial health (within the meaning of Treasury Regulation Section 1.409A-3(j)(4)(ix)(C))
if such distribution would result in additional taxes or penalties to the Participant under Section 409A of the Code, and in such
event the distribution shall be made as soon thereafter as permissible without penalty under Section 409A of the Code.”

 

    1 

     

    

 

3.            Section 6(k) of
the Plan is hereby amended to read as follows:

 

This Plan shall
become effective as of July 23, 2019 (the “Effective Date”). The Plan shall terminate as to future awards on
the date which is twelve (12) years after the Effective Date. Notwithstanding the foregoing, the Plan shall be terminated (the “Plan
Termination”) effective as of the date Milan Laser Inc.’s registration statement on Form S-1 is declared effective,
subject to the consummation of the initial public offering of Milan Laser Inc. Class A Common Stock (the “IPO”),
and in connection with the Plan Termination distributions shall be made to all eligible Participants in accordance with the definition
of Phantom Unit Payment. The Plan Termination is intended to comply with Treasury Regulation Section 1.409A-3(j)(4)(ix)(C) and
this amendment and termination shall be interpreted accordingly. Notwithstanding the foregoing, no provision of this amendment and termination
shall be interpreted or construed to transfer any liability for failure to comply with the requirements of Section 409A of the Code
from any Participant or any other individual to the Company or any of its affiliates, employees or agents.”

 

4.            Payment
to be made to the Participant in such form as shall be determined by the Board in its sole discretion, including without limitation in
the form of shares of common stock or other securities of Milan Laser Inc..

 

5.            This
amendment and termination shall be governed in all respects, including as to validity, interpretation and effect, by the internal laws
of the State of Delaware, without giving effect to the choice of law principles thereof. Except as set forth in this amendment and termination,
the terms and conditions of the Plan shall remain in full force and effect. In accordance with its authority under Section 3 of
the Plan, the Board has determined that this amendment and termination does not adversely impact the rights of any Participant under
any Award granted to such Participant under the Plan.

 

* * * * * * * *

 

    2 

     

    

 

Executed as of the first date set forth above.

 

	 	MILAN PARENT, LLC
	 	 
	 	 
	 	 
	 	 
	 	Name:	 
	 	 
	 	Title:	 

 

Signature Page to Amendment
to

the Amended and Restated Milan Parent, LLC

2019 Phantom Incentive Equity PlanExhibit
4.1

 

	NUMBER

    U-__________

     
	 	UNITS
	SEE REVERSE FOR CERTAIN
    DEFINITIONS	LEGATO MERGER CORP. II	 

 

CUSIP
52473Y 203

 

UNITS
CONSISTING OF ONE SHARE OF COMMON STOCK AND ONE-HALF OF ONE WARRANT

 

THIS
CERTIFIES THAT ______________________________________________________________________________________________

 

is
the owner of ______________________________________________________________________________ Units.

 

Each Unit (“Unit”) consists of
one (1) share of common stock, par value $0.0001 per share (“Common Stock”), of Legato Merger Corp. II, a Delaware
corporation (the “Company”), and one-half of one warrant of the Company (“Warrant”). Each whole
Warrant entitles the holder to purchase one share of Common Stock for $11.50 per share (subject to adjustment). Each Warrant will become
exercisable 30 days after the Company’s completion of an initial merger, capital stock exchange, asset acquisition, or other similar
business combination with one or more businesses or entities (a “Business Combination”) and will expire unless exercised
before 5:00 p.m., New York City Time, on the fifth anniversary of the completion of an initial Business Combination, or earlier upon
redemption or liquidation. The Common Stock and Warrant(s) comprising the Unit(s) represented by this certificate are not transferable
separately until ninety (90) days following the IPO, unless EarlyBirdCapital, Inc. informs the Company of its decision to allow earlier
separate trading, except that in no event will the Common Stock and Warrants be separately tradeable until the Company has filed an audited
balance sheet reflecting the Company’s receipt of the gross proceeds of its initial public offering and issued a press release
announcing when such separate trading will begin. The terms of the Warrants are governed by a Warrant Agreement, dated as of ___________,
2021, between the Company and American Stock Transfer & Trust Company, as Warrant Agent, and are subject to the terms and provisions
contained therein, all of which terms and provisions the holder of this certificate consents to by acceptance hereof. Copies of the Warrant
Agreement are on file at the office of the Warrant Agent at 6201 15th Avenue, Brooklyn, NY 11219, and are available to any Warrant holder
on written request and without cost.

 

This
certificate is not valid unless countersigned by the Transfer Agent and Registrar of the Company. Witness the facsimile seal of the Company
and the facsimile signatures of its duly authorized officers.

 

	By	 
	 	 
	__________________________________________	____________________________________________
	Chairman	Secretary

 

Legato
Merger Corp. II

 

The
Company will furnish without charge to each unitholder who so requests, a statement of the powers, designations, preferences, and relative,
participating, optional, or other special rights of each class of stock or series thereof of the Company and the qualifications, limitations,
or restrictions of such preferences and/or rights.

 

     

     

    

 

The
following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written
out in full according to applicable laws or regulations:

 

	TEN COM –	as tenants in common	UNIF GIFT MIN ACT -	_____ Custodian
    ______
	TEN ENT –	as tenants by the entireties	 	(Cust)	(Minor)
	JT TEN –	as joint tenants with right of survivorship	 	under Uniform
    Gifts to Minors
	 	and not as tenants in common	 	Act ______________
	 	 	 	(State)

 

Additional
abbreviations may also be used though not in the above list.

 

For
value received, ___________________________ hereby sell, assign, and transfer unto

 

	PLEASE
    INSERT SOCIAL SECURITY OR OTHER

    IDENTIFYING
    NUMBER OF ASSIGNEE
	 
	 	 

 

 

 

(PLEASE
PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)

 

 

	 	Units

 

represented
by the within Certificate, and do hereby irrevocably constitute and appoint

 

 

	 	Attorney

to
transfer the said Units on the books of the within named Company with full power of substitution in the premises.

 

Dated
                                            

 

	 	 	 
	 	Notice:	The signature to this assignment
    must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement
    or any change whatever.

 

Signature(s)
Guaranteed:

 

	 	 
	THE SIGNATURE(S) SHOULD
    BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION	 
	(BANKS, STOCKBROKERS, SAVINGS
    AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH	 
	MEMBERSHIP IN AN APPROVED
    SIGNATURE GUARANTEE MEDALLION PROGRAM,	 
	PURSUANT TO S.E.C. RULE
    17Ad-15).	 

 

The
holder(s) of this certificate shall be entitled to receive a pro-rata portion of the funds from the trust account with respect to the
common stock underlying this certificate only in the event that (i) the Corporation is forced to liquidate because it does not consummate
an initial business combination within the period of time set forth in the Corporation’s Amended and Restated Certificate of Incorporation,
as the same may be amended from time to time (the “Charter”) or (ii) if the holder seeks to convert his shares upon consummation
of, or sell his shares in a tender offer in connection with, an initial business combination or in connection with certain amendments
to the Charter. In no other circumstances shall the holder(s) have any right or interest of any kind in or to the trust account.

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