Document:

ex_238572.htm

and between Medley Management Inc., a Delaware corporation (the "Company"), and Peter Kravitz of Province LLC ("Director").

 

The Company and Director desire to enter into this Agreement to set forth the terms and conditions of Director's service on the Board of Directors of the Company (the "Board").

 

AGREEMENTS

 

In consideration of the mutual covenants of the parties hereto as hereinafter set forth and other good and valuable consideration, the receipt and sufficiency of which hereby are acknowledged, the parties hereto hereby agree as follows:

 

1. Service on the Board of Directors.

 

(a) Position and Duties. Beginning on the date hereof and ending on the earlier of December 31, 2021, Director's death, disability, resignation or removal (the "Term"), Director shall serve as a member of the Board, and such committees of the Board as the Board may request from time to time.

 

(b) Time Commitment. Director agrees to attend all meetings of the Board and meetings of any committees of the Board of which Director is a member in person (unless such meeting is to be held telephonically or by video conference, in which case Director shall attend such meeting telephonically or by video conference, as the case may be).

 

(c) Compensation. For as long as Director serves on the Board, Director shall receive compensation in the amount of $45,000 for the first month and then $30,000 per month thereafter, subject to amounts required by law to be withheld, if any (the "Monthly Fee"), provided, however, that the Monthly Fee may be reduced at any time following the date that is four (4) months after the Effective Date if the Board determines that the duties of the Director have been materially reduced. The Monthly Fee shall be paid in advance on the first day of each month during the Term.

 

(d) Expenses. The Company will reimburse Director for all reasonable out-of-pocket expenses incurred by Director in connection with the performance of Director's duties and obligations under this Agreement, including any reasonable out-of-pocket expenses incurred by Director in attending meetings of the Board or any committee thereof on which Director serves. Director shall comply with such limitations and reporting requirements with respect to expenses as may be established by the Company from time to time (including without limitation provision of supporting documentation).

 

(e) Early Termination. The Board shall provide Director with no less than one months prior notice of the removal of Director (the "Early Termination Notice Period") from the Board prior to the expiration of the Term ("Early Termination"); provided, however, that an Early Termination may occur prior to the Early Termination Notice Period if the Board pays Director a severance payment equal to one Monthly Fee.

 

2. Notices. Any notice provided for in this Agreement must be in writing and must be either personally delivered, emailed or sent by reputable overnight courier service (charges prepaid) to the recipient at the address indicated on the signature page to this Agreement or such other address or to the attention of such other Person as the recipient party shall have specified by prior written notice to the sending party. Any notice under this Agreement shall be deemed to have been given when personally delivered, when transmitted by email or one business day after sent by reputable overnight courier service.

 

3. General Provisions.

 

(a) Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision or any other jurisdiction, but this Agreement shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein.

 

(b) Complete Agreement. This Agreement and those documents expressly referred to herein embody the complete agreement and understanding among the parties and supersede and preempt any prior understandings, agreements or representations by or among the parties, written or oral, which may have been related to the subject matter hereof in any way.

 

(c) Counterparts. This Agreement may be executed in separate counterparts, each ofwhich is deemed to be an original and all of which taken together constitute one and the same agreement.

 

(d) Remedies. Each of the parties to this Agreement shall be entitled to enforce his or its rights under this Agreement specifically, to recover damages and costs (including reasonable attorney's fees) caused by any breach of any provision of this Agreement and to exercise all other rights existing in its favor.

 

(e) Amendment and Waiver. The provisions of this Agreement may be amended and waived only with the prior written consent of the Company and Director.

 

(f) Assignment. Except as otherwise provided herein, this Agreement shall bind and inure to the benefit of and be enforceable by Director, the Company and their respective successors and assigns.

 

(g) Governing Law. The provisions of this Agreement shall be construed in accordance with the internal laws, but not the law of conflicts of the State of Delaware. For the purposes of any claim or cause of action in any legal proceeding initiated over any dispute arising out of or relating to this Agreement or any of the transactions contemplated hereby, such claim or cause of action shall be initiated in any federal or state court located within the State of Delaware, and the parties further agree that venue for all such matters shall lie exclusively in those courts. The parties hereby irrevocably waive, to the fullest extent permitted by applicable law, any objection that they may now or hereafter have, including, without limitation, any claim of forum non conveniens, to venue and any objection to personal jurisdiction or venue in such jurisdiction in the courts located in the State of Delaware. The parties agree that a judgment in any such dispute may be enforced in other jurisdictions by proceedings on the judgment or in any other manner provided by law.

 

(h) Waiver of Jury Trial. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS OR EVENTS CONTEMPLATED HEREBY OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY HERETO. THE PARTIES HERETO EACH AGREE THAT ANY AND ALL SUCH CLAIMS AND CAUSES OF ACTION SHALL BE TRIED BY THE COURT WITHOUT A JURY. EACH OF THE PARTIES HERETO FURTHER WAIVES ANY RIGHT TO SEEK TO CONSOLIDATE ANY SUCH LEGAL PROCEEDING IN WHICH A JURY TRIAL HAS BEEN WAIVED WITH ANY OTHER LEGAL PROCEEDING IN WHICH A JURY TRIAL CANNOT OR HAS NOT BEEN WAIVED.

 

[ Remainder of page intentionallyExhibit 4.1

  

SPECIMEN
UNIT CERTIFICATE

	SEE
    REVERSE FOR

    CERTAIN

    DEFINITIONS	 	Excelsa
    Acquisition Corp.	 	 	 	NUMBER
    UNITS U-
	 	 	 	 	 
	 	 	 	 	 	 	CUSIP
    G32376108

 

UNITS
CONSISTING OF ONE CLASS A ORDINARY SHARE AND

ONE-THIRD OF ONE REDEEMABLE WARRANT TO PURCHASE

ONE CLASS A ORDINARY SHARE

 

THIS
CERTIFIES THAT is the owner of Units.

 

Each
Unit (“Unit”) consists of one (1) Class A ordinary share, par value $0.0001 per share (“Ordinary Shares”),
of Excelsa Acquisition Corp., a Cayman Islands exempted company (the “Company”), and one-third (1/3) of one redeemable
warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one (1) Ordinary Share for
$11.50 per share (subject to adjustment). Each Warrant will become exercisable thirty (30) days after the Company’s completion
of a merger, share exchange, asset acquisition, share purchase, reorganization or other similar business combination with one
or more businesses (each, a “Business Combination”), and will expire unless exercised before 5:00 p.m., New York City
Time, on the date that is five (5) years after the date on which the Company completes its initial Business Combination, or earlier
upon redemption or liquidation (the “Expiration Date”). The Ordinary Shares and Warrants comprising the Units represented
by this certificate are not transferable separately prior to __________, 2021, unless Credit Suisse Securities (USA) LLC and J.P.
Morgan Securities LLC elect to allow earlier separate trading, subject to the Company’s filing with the Securities and Exchange
Commission of a Current Report on Form 8-K containing an audited balance sheet reflecting the Company’s receipt of the gross
proceeds of the Company’s initial public offering and issuing a press release announcing when separate trading will begin.
No fractional warrants will be issued upon separation of the Units and only whole warrants are exercisable. The terms of the Warrants
are governed by a Warrant Agreement, dated as of ___________, 2021, between the Company and Continental 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 1 State Street, 30th Floor, New York, New York 10004, and are available to any Warrant holder on written request
and without cost.

 

Upon
the consummation of the Business Combination, the Units represented by this certificate will automatically separate into the Class
A Ordinary Shares and Warrants comprising such Units.

 

This
certificate is not valid unless countersigned by the Transfer Agent and Registrar of the Company.

 

This
certificate shall be governed by and construed in accordance with the internal laws of the State of New York.

 

Witness
the facsimile signatures of its duly authorized officers.

 

	By	 
	 	Chief Executive Officer
	 	 
	By	 
	 	Chief Financial Officer

    

     

    

Excelsa
Acquisition Corp.

 

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 shares 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)
	 	 	 	under Uniform Gifts to Minors Act
	 	 	 	(State)
	JT TEN —	as joint tenants with right of survivorship and not as tenants in common	 

 

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

 

For
value received, hereby sells, assigns and transfers 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) MUST 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 UNDER THE SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED OR ANY SUCCESSOR RULES).

	 

     2

     

    

In
each case, as more fully described in the Company’s final prospectus dated _________, 2021, the holder(s) of this certificate
shall be entitled to receive a pro-rata portion of certain funds held in the trust account established in connection with the
Company’s initial public offering only in the event that (i) the Company redeems the Ordinary Shares sold in its initial
public offering and liquidates because it does not consummate an initial Business Combination within the period of time set forth
in the Company’s amended and restated memorandum and articles of association, as the same may be amended from time to time,
(ii) the Company redeems the Ordinary Shares sold in its initial public offering in connection with a shareholder vote to amend
the Company’s amended and restated memorandum and articles of association (A) that would modify the substance or timing
of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection
with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete
its initial Business Combination within the time period set forth therein or (B) with respect to any other material provision
relating to the rights of holders of the Ordinary Shares or pre-initial Business Combination activity, or (iii) if the holder(s)
seek(s) to redeem for cash his, her or its respective Ordinary Shares in connection with a tender offer (or proxy solicitation,
solely in the event the Company seeks shareholder approval of the proposed initial Business Combination) setting forth the details
of a proposed initial Business Combination. In no other circumstances shall the holder(s) have any right or interest of any kind
in or to the trust account.

     3

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