Document:

Exhibit 10.1

 

AMENDED AND RESTATED
PROMISSORY NOTE

 

 

 

	Not to Exceed $255,000	November 24, 2013

 

This Amended and Restated
Promissory Note (as further amended, supplemented or otherwise modified, this “Note”), amends and restates in its entirety
that certain Promissory Note (the “Original Note”) issued on August 5, 2013 by Levy Acquisition Sponsor, LLC, a Delaware
limited liability company (“Payee”), in favor of Levy Acquisition Corp., a Delaware corporation (“Maker”
or the “Company”), whose address is 444 North Michigan Avenue, Suite 3500, Chicago, IL 60611, in the original amount
of TWO HUNDRED THOUSAND DOLLARS ($200,000) or such lesser amount as shall have been advanced by Payee to Maker and shall remain
unpaid under the Original Note.

 

WHEREAS expenses incurred
from October 30, 2013 through the date hereof on behalf of the Company by the Payee are hereby deemed to be advances under the
Note. In furtherance thereof, and in consideration of the premises, covenants, promises, representations and warranties hereinafter
set forth, the Company hereby agrees as follows:

 

FOR VALUE RECEIVED,
the Company hereby unconditionally promises to pay to the order of Payee, at Payee’s office at 444 North Michigan Avenue,
Suite 3500, Chicago, IL 60611 (or such other address specified by Payee to Maker), the sum of
TWO HUNDRED FIFTY FIVE THOUSAND DOLLARS ($255,000) or such lesser amount as shall have been advanced by Payee to Maker and shall
remain unpaid under this Note, in legal and lawful money of the United States of America.

 

Payee may make advances
to Maker from time to time under this Note; provided, however, that notwithstanding anything to the contrary herein, at no time
shall the aggregate of all advances and readvances outstanding under this Note exceed $255,000.

 

This is a non-interest
bearing Note.

 

The entire unpaid principal
balance of this Note shall be due and payable upon the earlier of February 1, 2014 or the consummation of a public offering of
the Company’s securities.

 

If payment of this
Note or any installment of this Note is not made when due, the entire indebtedness hereunder, at the option of Payee, shall immediately
become due and payable, and Payee shall be entitled to pursue any or all remedies to which Payee is entitled hereunder, or at law
or in equity.

 

This Note may be prepaid,
in whole or in part, without penalty. This Note may not be changed, amended or modified except in a writing expressly intended
for such purpose and executed by the party against whom enforcement of the change, amendment or modification is sought. The loan
evidenced by this Note is made solely for business purposes and is not for personal, family, household or agricultural purposes.

 

    	 

    	 

    

 

THIS NOTE IS BEING
EXECUTED AND DELIVERED, AND IS INTENDED TO BE PERFORMED, IN THE STATE OF ILLINOIS. EXCEPT TO THE EXTENT THAT THE LAWS OF THE UNITED
STATES MAY APPLY TO THE TERMS HEREOF, THE SUBSTANTIVE LAWS OF THE STATE OF ILLINOIS SHALL GOVERN THE VALIDITY, CONSTRUCTION, ENFORCEMENT
AND INTERPRETATION OF THIS NOTE. IN THE EVENT OF A DISPUTE INVOLVING THIS NOTE OR ANY OTHER INSTRUMENTS EXECUTED IN CONNECTION
HEREWITH, THE UNDERSIGNED PARTIES IRREVOCABLY AGREE THAT VENUE FOR SUCH DISPUTE SHALL LIE IN ANY COURT OF COMPETENT JURISDICTION
IN THE STATE OF ILLINOIS.

 

Service of any notice
by Maker to Payee or by Payee to Maker, shall be mailed, postage prepaid by certified United States mail, return receipt requested,
at the address for such party set forth in this Note, or at such subsequent address provided to the other party hereto in the manner
set forth in this paragraph for all notices. Any such notice shall be deemed given three (3) days after deposit thereof in an official
depository under the care and custody of the United States Postal Service.

 

Should the indebtedness
represented by this Note or any part thereof be collected at law or in equity or through any bankruptcy, receivership, probate
or other court proceedings or if this Note is placed in the hands of attorneys for collection after default, the undersigned and
all endorsers, guarantors and sureties of this Note jointly and severally agree to pay to the holder of this Note, in addition
to the principal and interest due and payable hereon, reasonable attorneys’ and collection fees.

 

The undersigned and
all endorsers, guarantors and sureties of this Note and all other persons liable or to become liable on this Note severally waive
presentment for payment, demand, notice of demand and of dishonor and nonpayment of this Note, notice of intention to accelerate
the maturity of this Note, notice of acceleration, protest and notice of protest, diligence in collecting, and the bringing of
suit against any other party, and agree to all renewals, extensions, modifications, partial payments, releases or substitutions
of security, in whole or in part, with or without notice, before or after maturity.

 

The undersigned hereby
expressly and unconditionally waives, in connection with any suit, action or proceeding brought by the payee on this Note, any
and every right it may have to (i) injunctive relief, (ii) a trial by jury, (iii) interpose any counterclaim therein and (iv) have
the same consolidated with any other or separate suit, action or proceeding. Nothing herein contained shall prevent or prohibit
the undersigned from instituting or maintaining a separate action against payee with respect to any asserted claim.

 

This Note represents
the final agreement between the parties and may not be contradicted by evidence of prior, contemporaneous or subsequent oral agreements
of the parties.

 

[Signature page follows]

 

    	2

    	 

    

 

EXECUTED AND AGREED
as of the date first above written.

 

 

 

	 	LEVY ACQUISITION CORP.,
	 	a Delaware corporation
	 	 
	 	 
	 	By: 	/s/ Ari B. Levy
	 	 	Name: Ari B. Levy
Title: President and Chief Investment
Officer

 

[Signature
Page to AMENDED AND RESTATED Promissory Note]Exhibit 10.2

 

PRIVATE PLACEMENT WARRANTS ASSIGNMENT
AGREEMENT

 

 

This Private Placement
Warrants Assignment Agreement, dated as of November 19, 2013 (this “Assignment”), is made by and between Levy
Acquisition Sponsor, LLC, a Delaware limited liability company (the “Assignor”) and Michael R. Wallach (the
“Buyer”).

 

WHEREAS, on
the terms and subject to the conditions set forth in this Assignment, the Assignor wishes to assign an aggregate of 30,000 warrants
(the “Private Placement Warrants”), each exercisable to purchase one share of common stock of Levy Acquisition
Corp. (the “Company”), and having the terms described in the Company’s prospectus dated November 13, 2013
(the “Prospectus”) relating to the Company’s initial public offering (the “Public Offering”)
and the Buyer wishes to receive the Private Placement Warrants from the Assignor.

 

NOW, THEREFORE,
in consideration of the premises, representations, warranties and the mutual covenants contained in this Assignment, and for other
good and valuable consideration, the receipt, sufficiency and adequacy of which are hereby acknowledged, the parties hereto, intending
to be legally bound, hereby agree as follows:

 

Section 1 Assignment
of Private Placement Warrants. The Assignor hereby assigns 30,000 Private Placement Warrants to the Buyer, immediately following,
and conditional upon, the closing of the Public Offering and the private placement of the Private Placement Warrants to be made
by the Company to the Assignor simultaneously with the Public Offering. The Assignor shall assign the Private Placement Warrants
to the Buyer as compensation for the Buyer’s service as an officer of the Company and the Buyer will pay no consideration
for the assignment of the Private Placement Warrants. In connection with such assignment, the Assignor hereby assigns its rights,
duties and obligations under that certain Registration Rights Agreement, dated as of November 13, 2013, by and among the Company,
the Assignor and the other signatories thereto (the “Registration Rights Agreement”), to the Buyer, as a Permitted
Transferee (as defined in the Registration Rights Agreement).

 

Section 2 No
Conflicts. Each party represents and warrants that neither the execution and delivery of this Assignment by such, nor the consummation
or performance by such party of any of transactions contemplated hereby, will with or without notice or lapse of time, constitute,
create or result in a breach or violation of, default under, loss of benefit or right under or acceleration of performance of any
obligation required under any agreement to which it is a party.

 

Section 3 Investment
Representations. The Buyer represents and warrants, as follows: The Buyer hereby acknowledges that an investment in the Private
Placement Warrants involves certain significant risks. The Buyer has no need for liquidity in its investment in the Private Placement
Warrants for the foreseeable future and is able to bear the risk of that investment for an indefinite period. The Buyer acknowledges
and hereby agrees that the Private Placement Warrants (and the shares of common stock issuable upon exercise thereof) have not
been registered under the Securities Act of 1933, as amended (the “Act”) will not be transferable under any
circumstances unless registered by the Company in accordance with federal and state securities laws or sold in compliance with
an exemption under such laws and such transfer complies with all applicable lock-up restrictions on the Buyer (as described in
the Company’s registration statement on Form S-1, as amended (File Number 333-191587) (the “Registration Statement”),
under the Act, relating to the Public Offering)). The Buyer further understands that any certificates evidencing the Private Placement
Warrants bear a legend referring to the foregoing transfer restrictions.

 

    	 

    	 

    

 

The Private Placement
Warrants are being acquired solely for the Buyer’s own account, for investment purposes only, and are not being purchased
with a view to or for the resale, distribution, subdivision or fractionalization thereof; and the Buyer has no present plans to
enter into any contract, undertaking, agreement or arrangement for such resale, distribution, subdivision or fractionalization.
The Buyer has been given the opportunity to (i) ask questions of and receive answers from the Assignor and the Company concerning
the terms and conditions of the Private Placement Warrants, and the business and financial condition of the Company and (ii) obtain
any additional information that the Assignor possesses or can acquire without unreasonable effort or expense that is necessary
to assist the Buyer in evaluating the advisability of the purchase of the Private Placement Warrants and an investment in the Company.
The Buyer is not relying on any oral representation made by any person as to the Company or its operations, financial condition
or prospects. The Buyer is an “accredited investor” as defined in Regulation D promulgated by the Securities and Exchange
Commission under the Act. The Buyer acknowledges, and agrees to be bound by, the terms and provisions of the Securities Escrow
Agreement dated November 13, 2013 among the Company and the other parties thereto (the “Escrow Agreement”),
and that the Private Placement Warrants shall remain in escrow until the termination of the Escrow Period (as defined in the Escrow
Agreement).

 

Section 4 Assignor
Representations. The Assignor represents and warrants as follows: Neither the Assignor, nor any of its officers, directors,
employees, agents or members has either directly or indirectly, including through a broker or finder, engaged in any general solicitation
or published any advertisement in connection with the assignment of the Private Placement Warrants.

 

Section 5 Miscellaneous.
This Assignment, together with the certificates, documents, instruments and writings that are delivered pursuant hereto, constitutes
the entire agreement and understanding of the parties hereto in respect of its subject matter. This Assignment may be executed
in two or more counterparts, each of which will be deemed an original but all of which together will constitute one and the same
instrument. This Assignment may not be amended, modified or waived as to any particular provision, except by a written instrument
executed by all parties hereto. Except as otherwise provided herein, no party hereto may assign either this Assignment or any of
its rights, interests, or obligations hereunder without the prior written approval of the other party.

 

[SIGNATURE PAGE FOLLOWS]

 

    	 

    	 

    

 

IN WITNESS WHEREOF,
the undersigned have executed this Assignment to be effective as of the date first set forth above.

 

 

 

	 	LEVY ACQUISITION SPONSOR, LLC
	 	 
	 	 
	 	By: 	/s/ Ari Levy
	 	 	Name: Ari Levy
Title: President

 

	 	BUYER
	 	 
	 	 
	 		/s/ Michael R. Wallach
	 	 	Michael R. Wallach

 

 

 

[SIGNATURE PAGE TO Private
Placement WARRANTS ASSIGNMENT AGREEMENT]

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