Document:

Exhibit 10.1

 

PROPOSED
AMENDMENT

TO THE

INVESTMENT MANAGEMENT TRUST AGREEMENT

 

This Amendment No. 1 (this
 “Amendment”), dated as of August 5, 2022, to the Investment Management Trust Agreement (the “Trust Agreement”)
is made by and between Chardan NexTech Acquisition 2 Corp. (the “Company”) and Continental Stock Transfer & Trust Company,
as trustee (“Trustee”). All terms used but not defined herein shall have the meanings assigned to them in the Trust Agreement.

 

WHEREAS, the Company and the
Trustee entered into the Trust Agreement on August 10, 2021;

 

WHEREAS, Section 1(i)
of the Trust Agreement sets forth the terms that govern the liquidation of the Trust Account under the circumstances described therein;

 

WHEREAS, at an special meeting
of the Company held on August 5, 2022, the Company’s stockholders approved (i) a proposal to amend the Company’s Amended
and Restated Certificate of Incorporation (the “A&R COI”) to authorize the Company to extend the date up to three (3)
times for an additional one (1) month each time (for a maximum of three one-month extensions) by which the Company must (a) consummate
a merger, capital stock exchange, asset, stock purchase, reorganization or other similar business combination, which we refer to as our
initial business combination, (b) cease its operations except for the purpose of winding up if it fails to complete such initial
business combination, or (c) redeem all of the shares of common stock, par value $0.0001 per share, of the Company included as part
of the units sold in the Company’s initial public offering that was consummated on August 13, 2021, upon the deposit into
the trust account by the Company’s insiders, their affiliates or designees of $200,000 upon five days’ advance notice prior
to August 13, 2022, or such other date as may be extended (the “Extension”) and (ii) a proposal to amend the Trust
Agreement to authorize the Extension and its implementation by the Company; and

 

NOW THEREFORE, IT IS AGREED:

 

1.   Section 1(i)
of the Trust Agreement is hereby amended and restated in its entirety as follows:

 

“(i)   Commence
liquidation of the Trust Account only after and promptly after receipt of, and only in accordance with, the terms of a letter (“Termination
Letter”), in a form substantially similar to that attached hereto as either Exhibit A or Exhibit B, signed on behalf of
the Company by its President, Chief Executive Officer or Chairman of the Board and Secretary or Assistant Secretary and, in the case of
a Termination Letter in a form substantially similar to that attached hereto as Exhibit A, and complete the liquidation of the Trust
Account and distribute the Property in the Trust Account only as directed in the Termination Letter and the other documents referred to
therein; provided, however, that in the event that a Termination Letter has not been received by the Trustee by (1) the 12-month
anniversary of the closing of the IPO (“Closing”) (or the 18-month anniversary of the Closing if extended in full as described
in the prospectus relating to the IPO) (“Last Date”), or (2) if the Company’s Board of Directors extends the time
to complete the Business Combination up to three (3) times for an additional one (1) month each time (for a maximum of three one-month
extensions), upon the deposit into the Trust Account of $200,000 by the Company’s insiders, their affiliates or designees upon five
days’ advance notice prior to August 13, 2022 or such other date as may be extended, the Trust Account shall be liquidated
in accordance with the procedures set forth in the Termination Letter attached as Exhibit B hereto and distributed to the Public
Stockholders as of the Last Date.”

 

2.   Exhibit B of the Trust
Agreement is hereby amended and restated in its entirety as follows:

 

[Letterhead of Company]

 

[Date •]

 

    

     

    

 

Continental
Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, N.Y. 10004

Attn: Francis Wolf and Celeste Gonzalez

 

Re:   Trust Account — Termination
Letter

 

Ladies & Gentlemen:

 

Pursuant to paragraph 1(i)
of the Investment Management Trust Agreement between Chardan NexTech Acquisition 2 Corp. (“Company”) and Continental Stock
Transfer & Trust Company (“Trustee”), dated as of August 10, 2021 (the “Trust Agreement”), this is to
advise you that the Company has been unable to effect a Business Combination with a Target Company within the time frame specified in
the Company’s Amended and Restated Certificate of Incorporation, as amended. Capitalized terms used herein and not otherwise defined
shall have the meanings set forth in the Trust Agreement.

 

In accordance with the terms
of the Trust Agreement, we hereby authorize you to liquidate all the Trust Account investments and to transfer the total proceeds to the
Trust Operating Account at J.P. Morgan Chase Bank, N.A to await distribution to the Public Stockholders. The Company has selected July 11,
2022 as the effective date for the purpose of determining when the Public Stockholders will be entitled to receive their share of the
liquidation proceeds. It is acknowledged that no interest will be earned by the Company on the liquidation proceeds while on deposit in
the Trust Checking Account. You agree to be the Paying Agent of record and in your separate capacity as Paying Agent, to distribute said
funds directly to the Public Stockholders in accordance with the terms of the Trust Agreement and the Amended and Restated Certificate
of Incorporation of the Company. Upon the distribution of all the funds in the Trust Account, your obligations under the Trust Agreement
shall be terminated.

 

	 	Very truly yours,
	 	 
	 	CHARDAN NEXTECH ACQUISITION 2 CORP.
	 	 
	 	 
	 	By: 	 
	 	 	Jonas Grossman, Chief Executive Officer and Secretary

 

cc:   Chardan Capital Markets, LLC

 

3.   All other
provisions of the Trust Agreement shall remain unaffected by the terms hereof.

 

4.   This Amendment
may be signed in any number of counterparts, each of which shall be an original and all of which shall be deemed to be one and the same
instrument, with the same effect as if the signatures thereto and hereto were upon the same instrument. A facsimile signature or electronic
signature shall be deemed to be an original signature for purposes of this Amendment.

 

5.   This Amendment
is intended to be in full compliance with the requirements for an Amendment to the Trust Agreement as required by Section 7(c) of
the Trust Agreement, and every defect in fulfilling such requirements for an effective amendment to the Trust Agreement is hereby ratified,
intentionally waived and relinquished by all parties hereto.

 

6.   This Amendment
shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflicts
of law principles that would result in the application of the substantive laws of another jurisdiction. 

 

    2

     

    

 

IN WITNESS WHEREOF, the parties
have duly executed this Amendment to the Trust Agreement as of the date first written above.

 

	 	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Trustee
	 	 	 
	 	 	 
	 	By:	 /s/ Francis Wolf
	 	 	Francis Wolf, Vice President
	 	 	 
	 	 	CHARDAN NEXTECH ACQUISITION 2 CORP.
	 	 	 
	 	 	 
	 	By: 	/s/ Jonas Grossman
	 	 	 Jonas Grossman, Chief Executive Officer and Secretarypcor-ex101_63.htm

Exhibit 10.1

July 27, 2022

Joy Driscoll Durling

Chief Data Officer

Procore Technologies, Inc.

6309 Carpinteria Avenue

Carpinteria, CA 93013

 

Dear Joy,

You are currently employed by Procore Technologies, Inc. (the “Company”) as Chief Data Officer.  This letter agreement confirms the existing terms and conditions of your employment in that role.  

POSITION. You are serving in a full-time capacity as Chief Data Officer, reporting to Craig F. Courtemanche, Jr., President and Chief Executive Officer, working remotely.  Subject to the other provisions of this letter agreement, we may change your position, duties, and work location from time to time at our discretion.

EMPLOYEE BENEFITS. As a regular employee of the Company, you are eligible to participate in the Company’s standard benefits, subject to the terms and conditions of such plans and programs. Subject to the other provisions of this letter agreement, we may change compensation and benefits from time to time at our discretion.

SALARY. Your annual base salary is $390,000, payable in semi-monthly installments in accordance with the Company’s standard payroll practices for salaried employees. This salary will be subject to adjustment pursuant to the Company’s employee compensation policies in effect from time to time.

ANNUAL BONUS. You are eligible for incentive bonus compensation with a target bonus equal to 65% of your annual base salary, subject to the Company’s corporate bonus plan. 

EQUITY. You have been granted various equity interests in the Company.  Those equity interests shall continue to be governed in all respects by the terms of the applicable equity agreements, grant notices and equity plans.  

PROPRIETARY INFORMATION AND INVENTIONS AGREEMENT. You remain subject to the terms of the Proprietary Information and Inventions Agreement that you previously executed.

PERIOD OF EMPLOYMENT. Your employment with the Company remains “at will,” meaning that either you or the Company may terminate your employment at any time and for any reason, with or without cause.  This remains the full and complete agreement between you and the Company on this term. Although your job duties, title, compensation and benefits, as well as the Company’s personnel policies and procedures, may change from time to time, the “at will” nature of your employment may only be changed in an express written agreement signed by you and a duly authorized officer of the Company.

SEVERANCE. You will be eligible for severance benefits under the terms of the Executive Severance Agreement between you and the Company dated 08/02/22.

 

AMENDMENT. This letter agreement (except for terms reserved to the Company’s discretion) may not be amended or modified except by an express written agreement signed by you and a duly authorized officer of the Company.

ARBITRATION. To ensure the rapid and economical resolution of disputes that may arise in connection with your employment with the Company, you and the Company agree that any and all disputes, claims, or causes of action, in law or equity, including but not limited to statutory claims, arising from or relating to the enforcement, breach, performance, or interpretation of this agreement, your employment with the Company, or the termination of your employment, shall be resolved pursuant to the Federal Arbitration Act, 9 U.S.C. § 1-16, to the fullest extent permitted by law, by final, binding and confidential arbitration conducted by JAMS or its successor, under JAMS’ then applicable rules and procedures for employment disputes before a single arbitrator (available upon request and also currently available at http://www.jamsadr.com/rules-employment-arbitration/). You acknowledge that by agreeing to this arbitration procedure, both you and the Company waive the right to resolve any such dispute through a trial by jury or judge or administrative proceeding.  In addition, all claims, disputes, or causes of action under this section, whether by you or the Company, must be brought in an individual capacity, and shall not be brought as a plaintiff (or claimant) or class member in any purported class or representative proceeding, nor joined or consolidated with the claims of any other person or entity.  The arbitrator may not consolidate the claims of more than one person or entity, and may not preside over any form of representative or class proceeding.  To the extent that the preceding sentences regarding class claims or proceedings are found to violate applicable law or are otherwise found unenforceable, any claim(s) alleged or brought on behalf of a class shall proceed in a court of law rather than by arbitration.  This paragraph shall not apply to any action or claim that cannot be subject to mandatory arbitration as a matter of law, including, without limitation, claims brought pursuant to the California Private Attorneys General Act of 2004, as amended, the California Fair Employment and Housing Act, as amended, and the California Labor Code, as amended, to the extent such claims are not permitted by applicable law(s) to be submitted to mandatory arbitration and the applicable law(s) are not preempted by the Federal Arbitration Act or otherwise invalid (collectively, the “Excluded Claims”).  In the event you intend to bring multiple claims, including one of the Excluded Claims listed above, the Excluded Claims may be filed with a court, while any other claims will remain subject to mandatory arbitration.  You will have the right to be represented by legal counsel at any arbitration proceeding.  Questions of whether a claim is subject to arbitration under this agreement shall be decided by the arbitrator.  Likewise, procedural questions which grow out of the dispute and bear on the final disposition are also matters for the arbitrator.  The arbitrator shall: (a) have the authority to compel adequate discovery for the resolution of the dispute and to award such relief as would otherwise be permitted by law; and (b) issue a written statement signed by the arbitrator regarding the disposition of each claim and the relief, if any, awarded as to each claim, the reasons for the award, and the arbitrator’s essential findings and conclusions on which the award is based.  The arbitrator shall be authorized to award all relief that you or the Company would be entitled to seek in a court of law.  The Company shall pay all JAMS arbitration fees in excess of the administrative fees that you would be required to pay if the dispute were decided in a court of law. Nothing in this letter agreement is intended to prevent either you or the Company from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any such arbitration.  Any awards or orders in such arbitrations may be entered and enforced as judgments in the federal and state courts of any competent jurisdiction.

* * *

 

This letter agreement, together with your Proprietary Information and Inventions Agreement, equity agreements, and other agreements referenced herein, form the complete and exclusive statement of your employment agreement with the Company and supersedes any other agreements or promises made to you by anyone, whether oral or written, with respect to the subject matter hereof.  If any provision of this letter agreement is determined to be invalid or unenforceable, in whole or in part, this determination shall not affect any other provision of this letter agreement and the provision in question shall be modified so as to be rendered enforceable in a manner consistent with the intent of the parties insofar as possible under applicable law.  This letter agreement may be delivered and executed via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act or other applicable law), or other transmission method and shall be deemed to have been duly and validly delivered and executed and be valid and effective for all purposes.

Please sign and date this letter agreement below to indicate your agreement with its terms.  

		
	
Sincerely,

 

/s/ Craig F. Courtemanche, Jr.

Craig F. Courtemanche, Jr.
President & CEO
Procore Technologies, Inc.
	
ACCEPTED AND AGREED TO:

/s/ Joy Driscoll Durling

Signature of Joy Driscoll Durling

Dated: 08/02/22

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