Document:

Exhibit
10.9

 

THIS
DEED OF INDEMNITY is made this day             of

 

BETWEEN

 

		(1)	FORAFRIC
                                            GLOBAL PLC, a company incorporated in Gibraltar with registered number and            with a registered
                                            office situated at Madison Building, Midtown, Queensway, Gibraltar GX11 1AA, Gibraltar (the
                                            “Indemnifier”); and
	 	 	 
		(2)	                           of
                                                                    , Gibraltar (the “Director”).

 

WHEREAS:

 

		(1)	The
                                            Director is appointed to the board of directors of the Indemnifier.

 

		(2)	To
                                            the maximum extent legally permissible, the Indemnifier has agreed to indemnify and hold
                                            harmless the Director from and against any expenses, losses, damage or any other liability
                                            which the Director may incur in connection with his directorship of the Indemnifier.

 

NOW
IT IS HEREBY AGREED as follows:

 

	1.	To
                                            the maximum extent legally permissible, the Indemnifier shall indemnify and hold harmless
                                            the Director against all liabilities, costs, expenses, damages and losses (including any
                                            direct, indirect or consequential losses, loss of profit, loss of reputation and all interest,
                                            penalties and legal and other reasonable professional costs and expenses) suffered or incurred
                                            by the Director arising out of or in connection with any actions, suits, proceedings, claims,
                                            demands, costs, charges and expenses whatsoever which may be made taken or instituted against
                                            the Director in connection with his office of directorship of the Indemnifier. For the avoidance
                                            of doubt, the Indemnifier shall indemnify and hold harmless the Director against any such
                                            liability incurred by him in defending any proceedings, whether civil or criminal, in which
                                            judgment is given in his favour or in which he is acquitted or in connection with any application
                                            under section 477 of the Companies Act of Gibraltar in which relief is granted to him by
                                            the court.

 

	2.	To
                                            the maximum extent legally permissible, the Indemnifier shall indemnify and hold harmless
                                            the Director and keep the Director indemnified against all demands, claims, liabilities,
                                            losses, costs and expenses, including all legal and other costs, charges and expenses the
                                            Director may incur in connection with enforcing, or attempting to enforce, his rights to
                                            indemnification under this Deed. In addition, and to the maximum extent legally permissible,
                                            the Indemnifier shall pay and reimburse such sums to the Director upon such Director’s
                                            request, together with interest at the rate of 10% a year above the cost to the Director
                                            on any such sums incurred by the Director before and after judgment, from the date when such
                                            sums were first paid or incurred by the Director until the date of payment in full of such
                                            sums by the Indemnifier, save that the Director shall be required to evidence all his legal
                                            and other costs, charges and expenses in connection with enforcing, or attempting to enforce,
                                            his rights to indemnification under this Deed.

 

    	 

     

    

 

	3.	Notwithstanding
                                            clauses 1 and 2 above, the indemnity provided by the Indemnifier pursuant to this Deed does
                                            not extend to:

 

		(a)	any
                                            liabilities resulting from fraud, gross negligence or wilful misconduct of the Director;
                                            or

 

		(b)	any
                                            liabilities in respect of which the Indemnifier is not permitted to indemnify the Director
                                            pursuant to any law or regulation to which the Indemnifier is subject.

 

	4.	If
                                            any third party makes a claim, or notifies an intention to make a claim, against the Director
                                            which may reasonably be considered likely to give rise to a liability under this Deed (a
                                            “Claim”), the Director shall:

 

		(a)	as
                                            soon as reasonably practicable, give written notice of the Claim to the Indemnifier, specifying
                                            the nature of the Claim in reasonable detail (to the extent known by the Director);

 

		(b)	not
                                            make any admission of liability, agreement or compromise in relation to the Claim without
                                            the prior written consent of the Indemnifier (such consent not to be unreasonably conditioned,
                                            withheld or delayed); and

 

		(c)	subject
                                            to the Indemnifier providing security to the Director’s reasonable satisfaction against
                                            any claim, liability, costs, expenses, damages or losses which may be incurred, take such
                                            action as the Indemnifier may reasonably request to avoid, dispute, compromise or defend
                                            the Claim.

 

	5.	The
                                            indemnity provided under this Deed shall be in addition to and shall not be in any way prejudiced
                                            or affected by any one or more other indemnities, guarantees, securities or other obligations
                                            which the Director may now or subsequently hold whether from the Indemnifier or from any
                                            other person. The Director may at any time and without reference to the Indemnifier give
                                            time for payment or grant any other indulgence and give up, deal with, vary, exchange or
                                            abstain from perfecting or enforcing any other indemnities, guarantees, securities or other
                                            obligations held by the Director at any time and discharge any party to them or any of them,
                                            and release or realise them or any of them, and compound with, accept compositions from and
                                            make any other arrangements with any person or persons, as the Director thinks fit, without
                                            affecting the Indemnifier’s liability under this Deed.

 

    	 

     

    

 

	6.	No
                                            delay or omission on the part of the Director in exercising any right, power, privilege or
                                            remedy in respect of this Deed shall impair such right, power, privilege or remedy, or be
                                            construed as a waiver of it, nor shall any single or partial exercise of any such right,
                                            power, privilege or remedy preclude any further exercise of it or the exercise of any other
                                            right, power, privilege or remedy. The rights, powers, privileges and remedies provided in
                                            this Deed are cumulative and not exclusive of any rights powers, privileges or remedies provided
                                            by law.

 

	7.	If
                                            any provision of this Deed (or part of a provision) is found by any court or administrative
                                            body of competent jurisdiction to be invalid, unenforceable or illegal, the other provisions
                                            shall remain in force. If any invalid, unenforceable or illegal provision would be valid,
                                            enforceable or legal if some part of it were deleted or modified, the provision shall apply
                                            with whatever modification is necessary to give effect to the commercial intention of the
                                            parties.

 

	8.	No
                                            variation of this Deed shall be effective unless it is in writing and signed and delivered
                                            as a deed by the parties (or their authorised representatives).

 

	9.	No
                                            party may assign any of its rights under this agreement.

 

	10.	This
                                            agreement shall enure for the benefit of and shall be binding upon the lawful successors,
                                            heirs, executors, and beneficiaries of the parties.

 

	11.	This
                                            Deed may be executed in any number of counterparts, each of which, when executed and delivered,
                                            shall constitute a duplicate original, but all the counterparts shall together constitute
                                            the one Deed.

 

	12.	This
                                            Deed and any dispute or claim arising out of or in connection with it or its subject matter
                                            or formation (including non-contractual disputes or claims) shall be governed by and construed
                                            in accordance with the laws of Gibraltar.

 

	13.	Each
                                            party irrevocably agrees that the courts of Gibraltar shall have exclusive jurisdiction to
                                            settle any dispute or claim arising out of or in connection with this Deed or its subject
                                            matter or formation (including non-contractual disputes or claims).

 

IN
WITNESS whereof the parties hereto have executed these presents as a deed the day and year first above written.

 

[Remainder
of page left intentionally blank. Signature page follows.]

 

    	 

     

    

 

SIGNATURE
PAGE

 

	Executed
    as a deed by	 	 	 
	 	 	 	 
	[                           ] 	 	)	 
	 	 	)	 
	 	 	)	 
	 	 	)	 
	in
    the presence of	 	)	 
	 	 	)	 
	 	 	)	 
	 	 	)	 
	 	 	 	 
	Executed
    as a deed by	 	 	 
	For
    and on behalf of 	 	 	 
	FORAFRIC
    GLOBAL PLC	 	 	 
	 	 	)	 
	 	 	)	 
	 	 	)	 
	 	 	)
    	 
	 	 	) 	Director
	 	 	)	 
	in
    the presence of	 	)	 
	 	 	)	 
	 	 	)	 
	 	 	)Exhibit
10.10

 

Dated_April
20, 2022

 

FORAFRIC
AGRO HOLDINGS LIMITED

(as
Issuer)

 

and

 

LIGHTHOUSE
CAPITAL LIMITED

(as
Issuer’s Shareholder)

 

____________________________________________________

 

AMENDMENT
TO bond SUBScRIPTION deed

(USD
$40,000,000 6% Bonds 2026)

____________________________________________________

 

 

 

    	-1-

    	 

    

 

This
Deed is made on April 20, 2022 (this “Deed”)

 

By

 

		(1)	FORAFRIC
                                            AGRO HOLDINGS LIMITED, a private company limited by shares incorporated under the laws
                                            of Gibraltar with registered number 114436 and registered office at 57/63 Line Wall Road,
                                            Gibraltar (Issuer); and

 

		(2)	LIGHTHOUSE
                                            CAPITAL LIMITED, a private company limited by shares incorporated under the laws of Gibraltar
                                            with registered number 114433 and registered office at 57/63 Line Wall Road, Gibraltar (Issuer’s
                                            Shareholder)

 

for
the benefit of the Subscribers as defined in the Bond Subscription Deed referred to in this deed.

 

Whereas

 

		(A)	Issuer
                                            has by a resolution of its directors passed on 31 December 2021authorised the issue of 6
                                            per cent. per annum bonds in the aggregate initial principal amount of up to USD $40,000,000
                                            constituted by a Bond Subscription Deed dated 31 December 2021 executed by Issuer
                                            and Issuer’s Shareholder for the benefit of the Subscribers as therein defined (the
                                            Bond Subscription Deed).

 

		(B)	There
                                            are set out in the Schedule to this deed details of the Subscribers to the Bonds and the
                                            Bonds subscribed by each of them.

 

		(C)	By
                                            an Agreement entitled “Amendment No. 1 to Purchase Agreement” dated 20 April
                                            2022 the structure of the DE-SPAC Transaction has been amended, inter alia, by substituting
                                            Globis NV Merger Corp. currently a Nevada corporation (New Parent) for Globis Acquisition
                                            Corp. (Globis). Prior to consummation of the DE-SPAC Transaction, New Parent will,
                                            amongst other things, have re-domiciled to Gibraltar, altered its share capital and re-registered
                                            as a public limited company under Gibraltar law and its yet to be incorporated wholly owned
                                            Nevada subsidiary (New Subsidiary) will have merged with Globis, with New Subsidiary
                                            as the surviving company. The holders of common stock, warrant holders and unit holders of
                                            New Subsidiary, other than New Parent, will subsequently contribute their respective interests
                                            in New Subsidiary to New Parent, in exchange for equivalent interests in New Parent. Subject
                                            to completion of the DE-SPAC Transaction on or before the DE-SPAC Longstop Date, New Parent
                                            will acquire entire issued share capital of the Issuer on the DE-SPAC Transaction Date and
                                            concurrently New Parent will (i) assume by novation all the rights and obligations of Issuer
                                            under the Bond Subscription Deed, and (ii) issue to Bondholders such number of ordinary shares
                                            of New Parent (each of $0.001 par value) as shall correspond at the Conversion Price to the
                                            principal amount (plus accrued interest up to that date) of the Bonds, the said shares to
                                            be issued to Bondholders pro rata to their respective Bond holdings.

 

		(D)	This
                                            deed is executed in order to amend the Bond Subscription Deed by bringing its terms into
                                            line with the certain changes to the DE-SPAC Transaction as provided in this deed.

 

		(E)	This
                                            deed is subject to the approval of the Majority Bondholders to the execution of this deed
                                            as hereinafter provided.

 

    	-2-

    	 

    

 

Now
this Deed Witnesses as follows:

 

		1	Supplementary
                                            Agreement

 

		1.1	This
                                            deed is supplementary to, and shall be read as one with, the Bond Subscription Deed.

 

		1.2	Save
                                            as amended by this deed, the Bond Subscription Deed shall continue in full force and effect
                                            in accordance with its terms and conditions.

 

		1.3	The
                                            following clauses of the Bond Subscription Deed, namely Clauses 17 (Assignment and Transfer),
                                            19 (Miscellaneous), 20 (Communications), 21 (Confidentiality), 22 (Governing Law and Jurisdiction),
                                            23 (Third Party Rights) and 24 (Counterparts), shall apply to this deed as they apply to
                                            the Bond Subscription Deed.

 

		2	Condition
                                            Precedent

 

		2.1	This
                                            deed is conditional upon the signing of a written resolution by or on behalf of the Majority
                                            Bondholders approving this deed pursuant to clause 19.4 of the Bond Subscription Deed and
                                            paragraphs 6.18 and 6.19 of the Conditions (the Bondholder Approval).

 

		2.2	The
                                            Bondholder Approval may be contained in one or several documents in similar form each signed
                                            by one or more Bondholders.

 

		2.3	This
                                            deed shall come into effect forthwith upon the signing of the Bondholder Approval.

 

		3	Interpretation

 

		3.1	In
                                            this deed, terms defined and references construed in the Bond Subscription Deed shall bear
                                            the same meanings and constructions except as provided herein.

 

		3.2	Each
                                            reference in the Bond Subscription Deed to “this Deed” shall be construed as
                                            a reference to the Bond Subscription Deed as amended by this deed.

 

		4	Amendments
                                            to Bond Subscription Deed

 

		4.1	The
                                            definition of “Globis” in the Bond Subscription Deed shall be deleted in its
                                            entirety.

 

		4.2	The
                                            following definition shall be included in Paragraph 1 of Schedule 1 to the Bond Subscription
                                            Deed:

 

“Forafric
Global PLC” means Forafric Global PLC, currently a Nevada corporation named Globis NV Merger Corp., which subject to the terms
and conditions separately agreed between itself, Globis Acquisition Corp., the Issuer’s Shareholder and the Issuer, is to change
its jurisdiction of incorporation and name by de-registering as a Nevada corporation, and continuing and re-domiciling as a Gibraltar
private limited company pursuant to the Gibraltar Companies Act 2014 and the Gibraltar Companies (Re-domiciliation) Regulations 1996
and re-registering as a Gibraltar public limited company in accordance with Gibraltar law.

 

		4.3	The
                                            definition of “Globis Shares” in the Bond Subscription Deed shall be deleted
                                            in its entirety.

 

		4.4	The
                                            following definition shall be included in Paragraph 1 of Schedule 1 to the Bond Subscription
                                            Deed:

 

“Forafric
Global Shares” means ordinary shares of USD $0.001 par value in the capital of Forafric Global ranking pari passu with all other
ordinary shares in its capital.

 

		4.5	Each
                                            reference in the Bond Subscription Deed to “Globis” shall be replaced by a reference
                                            to Forafric Global PLC.

 

		4.6	Each
                                            reference in the Bond Subscription Deed to “Globis Shares” shall be replaced
                                            by a reference to Forafric Global Shares.

 

		4.7	Clause
                                            6.3(b) of the Bond Subscription Deed shall be amended by the addition of the following at
                                            the end of the paragraph: “(rounded down to the nearest complete number of Forafric
                                            Global Shares allotted and issued at the Conversion Price)”.

 

    	-3-

    	 

    

 

IN
WITNESS whereof this Deed has been executed as a deed on the date first above written.

 

	Signed as a Deed for and on behalf of

                         FORAFRIC AGRO HOLDINGS LIMITED

                         acting by a director in the presence of:
		 /s/ Ariel Belilo 

                         

                         

                         

	 		Director

 

	
	
	Witness
    signature	 	 
	 	 	 
	 	 	 
	Name
    (in block capitals)	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Address	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Occupation	 	 
	 	 	 

 

    	-4-

    	 

    

 

	Signed
    as a Deed for and on behalf of

                         LIGHTHOUSE
    CAPITAL LIMITED

                         acting
    by a director in the presence of:
		 /s/ Mesod Bengio 

                         
 
	 	 	Director

 

	
	
	Witness
    signature	 	 
	 	 	 
	 	 	 
	Name
    (in block capitals)	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Address	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Occupation	 	 
	 	 	 

 

    	-5-

    	 

    

 

Schedule
– The Subscribers

 

    	-6-

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