Document:

EX-10.1

 Exhibit 10.1 

PROMISSORY NOTE 
  

			
	$150,000	  	As of April 5, 2022

 Slam Corp. (“Maker”) promises to pay to the order of Slam Sponsor, LLC or its successors or assigns
(“Payee”) the principal sum of one hundred fifty thousand dollars ($150,000) in lawful money of the United States of America, on the terms and conditions described below. 

1.    Principal. The principal balance of this Note shall be repayable on the consummation of the Maker’s
initial merger, stock exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities (a “Business Combination”). Payee understands that if a Business
Combination is not consummated, this Note will not be repaid and all amounts owed hereunder will be forgiven except to the extent that the Maker has funds available to it outside of its trust account established in connection with its initial public
offering. 
 2.    Interest. No interest shall accrue on the unpaid principal balance of this Note. 

3.    Application of Payments. All payments shall be applied first to payment in full of any costs incurred in the
collection of any sum due under this Note, including (without limitation) reasonable attorneys’ fees, then to the payment in full of any late charges and finally to the reduction of the unpaid principal balance of this Note. 

4.    Events of Default. The following shall constitute Events of Default: 

(a)    Failure to Make Required Payments. Failure by Maker to pay the principal of this Note within five
(5) business days following the date when due. 
 (b)    Voluntary Bankruptcy, Etc. The commencement
by Maker of a voluntary case under the Federal Bankruptcy Code, as now constituted or hereafter amended, or any other applicable federal or state bankruptcy, insolvency, reorganization, rehabilitation or other similar law, or the consent by it to
the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator (or other similar official) of Maker or for any substantial part of its property, or the making by it of any assignment for the benefit of
creditors, or the failure of Maker generally to pay its debts as such debts become due, or the taking of corporate action by Maker in furtherance of any of the foregoing. 

(c)    Involuntary Bankruptcy, Etc. The entry of a decree or order for relief by a court having jurisdiction
in the premises in respect of maker in an involuntary case under the Federal Bankruptcy Code, as now or hereafter constituted, or any other applicable federal or state bankruptcy, insolvency or other similar law, or appointing a receiver,
liquidator, assignee, custodian, trustee, sequestrator (or similar official) of Maker or for any substantial part of its property, or ordering the winding-up or liquidation of its affairs, and the
continuance of any such decree or order unstayed and in effect for a period of 60 consecutive days. 

5.    Remedies. 

(a)    Upon the occurrence of an Event of Default specified in Section 4(a), Payee may, by written notice to Maker,
declare this Note to be due and payable, whereupon the principal amount of this Note, and all other amounts payable thereunder, shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which
are hereby expressly waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding. 

(b)    Upon the occurrence of an Event of Default specified in Sections 4(b) and 4(c), the unpaid principal balance of,
and all other sums payable with regard to, this Note shall automatically and immediately become due and payable, in all cases without any action on the part of Payee. 

6.    Conversion. Upon consummation of a Business Combination, the Payee shall have the option, but not the
obligation, to convert the principal balance of this Note, in whole or in part at the option of the Payee, into Private Placement Warrants (as defined in that certain Warrant Agreement, dated February 25, 2021, by and between the Maker and
Continental Stock Transfer & Trust Company), at a price of $1.50 per Private Placement Warrant. As promptly after notice by Payee to Maker to convert the principal balance of this Note, which must be made at least

 
24 hours prior to the consummation of the Business Combination, as reasonably practicable and after Payee’s surrender of this Note, Maker shall have issued and delivered to Payee, without
any charge to Payee, a warrant certificate or certificates (issued in the name(s) requested by Payee), or made appropriate book-entry notation on the books and records of the Maker, for the number of Warrants of Maker issuable upon the conversion of
this Note. 
 7.    Waivers. Maker and all endorsers and guarantors of, and sureties for, this Note waive
presentment for payment, demand, notice of dishonor, protest, and notice of protest with regard to the Note, all errors, defects and imperfections in any proceedings instituted by Payee under the terms of this Note, and all benefits that might
accrue to Maker by virtue of any present or future laws exempting any property, real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or sale under execution, or providing for any stay of
execution, exemption from civil process, or extension of time for payment; and Maker agrees that any real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of execution issued hereon, may be sold upon any
such writ in whole or in part in any order desired by Payee. 
 8.    Unconditional Liability. Maker hereby
waives all notices in connection with the delivery, acceptance, performance, default, or enforcement of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any other party, and shall not
be affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or consented to by Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted by Payee with
respect to the payment or other provisions of this Note, and agree that additional makers, endorsers, guarantors, or sureties may become parties hereto without notice to them or affecting their liability hereunder. 

9.    Notices. Any notice called for hereunder shall be deemed properly given if (i) sent by certified mail,
return receipt requested, (ii) personally delivered, (iii) dispatched by any form of private or governmental express mail or delivery service providing receipted delivery, (iv) sent by telefacsimile or (v) sent by e-mail, to the following addresses or to such other address as either party may designate by notice in accordance with this Section: 

If to Maker: 
 Slam Corp. 

55 Hudson Yards, 47th Floor, Suite C 

New York, New York 10001 
 If to
Payee: 
 Slam Sponsor, LLC 

55 Hudson Yards, 47th Floor, Suite C 

New York, New York 10001 
 Notice shall be
deemed given on the earlier of (i) actual receipt by the receiving party, (ii) the date shown on a telefacsimile transmission confirmation, (iii) the date on which
an e-mail transmission was received by the receiving party’s on-line access provider (iv) the date reflected on a signed delivery receipt,
or (vi) two (2) Business Days following tender of delivery or dispatch by express mail or delivery service. 

10.    Trust Waiver. Notwithstanding anything herein to the contrary, the Payee hereby waives any and all right,
title, interest or claim of any kind (“Claim”) in or to any distribution of or from the trust account established in which proceeds of the Makers initial public offering of securities (“IPO”) (including the deferred underwriters
discounts and commissions) and proceeds of the sale of the warrants issued in a private placement which occurred in connection with the consummation of the IPO are deposited, as described in greater detail in the registration statement and
prospectus filed with the Securities and Exchange Commission in connection with the IPO, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the trust account for any reason whatsoever. 

11.    Construction. This Note shall be construed and enforced in accordance with the domestic, internal law, but
not the law of conflict of laws, of the State of New York. 
 12.    Severability. Any provision contained in
this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 [Remainder
of Page Intentionally Left Blank] 

 IN WITNESS WHEREOF, Maker, intending to be legally bound hereby, has caused this Note to be duly executed by
its Chairman the day and year first above written. 
  

			
	Slam Corp.
		
	By:	 	 /s/ Himanshu Gulati

	Name:	 	Himanshu Gulati
	Title:	 	Chairman

  

					
	Agreed and Acknowledged:
	
	Slam Sponsor, LLC
	a Cayman Islands limited liability company
		
	By:	 	 /s/ Himanshu Gulati

		 	Name:	 	Himanshu Gulati
		 	Title:	 	Authorized Signatory

 [Signature Page to Promissory Note]Exhibit 4.22

    

     

    

    March 1, 2022

    

    

    Holder of Warrants to Purchase Ordinary Shares issued in July 2021

    

    

    Re: Amendment to Existing Warrants

    

    

    Dear Holder:

    

    

    Reference is hereby made to the offering on or about the date hereof (the “Offering”) by Check-Cap Ltd. (the “Company”) of (i) ordinary shares, par value NIS 2.40 per
      share (“Ordinary Shares”), (ii) Pre-Funded Warrants to purchase Ordinary Shares (“Pre-Funded Warrants”) and (iii) Warrants to purchase Ordinary Shares (the “Ordinary Warrants” and, collectively, with the Ordinary Shares and
      Pre-Funded Warrants, the “Securities”).

    

    

    This letter confirms that, in consideration for the Holder’s participation in the Offering and purchase of Securities in the Offering (the “Purchase Commitment”), the
      Company hereby amends, effective as of the closing of the Offering, the Holder’s existing warrants to purchase up to [_____] Ordinary Shares at an exercise price of $1.50 per share issued in July 2021 (the “Warrants”), by (i) reducing the
      Exercise Price of the Warrants (as defined therein) to $0.65 per share and (ii) extending the Termination Date of the Warrants (as defined therein) to January 2, 2025 (the “Warrant Amendment”).  The Warrant Amendment shall be effective upon
      the closing the Offering and the satisfaction of the other terms and conditions referenced below.

    

    

    As a condition to the Warrant Amendment, the Holder hereby undertakes to deliver a complete and executed Israeli tax residency certificate, in the form attached as Exhibit A hereto.

    

    

    The Warrant Amendment is subject to the consummation of the Offering and the Holder’s satisfaction of the Purchase Commitment. In the event that either (i) the Offering is not
      consummated, or (ii) the Holder does not satisfy the Purchase Commitment, the Warrant Amendment shall be null and void and the provisions of the Warrants in effect prior to the date hereof shall remain in effect.

    

    

    Except as expressly set forth herein, the terms and provisions of the Warrants shall remain in full force and effect after the execution of this letter and shall not be in any way
      changed, modified or superseded except by the terms set forth herein.

    

    

    From and after the effectiveness of the Warrant Amendment, the Company agrees to promptly deliver to the Holder, upon request, amended Warrants that reflect the Warrant Amendments
      in exchange for the surrender for cancellation of the Holder’s Warrants to be amended as provided herein.

    

    

    [Signature Page Follows]

     

    

    
      
        

    

    

    

    IN WITNESS WHEREOF, the parties hereto have caused this agreement to be duly executed by their respective authorized signatories as of the date first indicated above.

    

    

    CHECK-CAP LTD.

    

    

    By: _____________________

    Name:

    Title:

    

    

    Name of Holder: ________________________________________________________

    

    

    Signature of Authorized Signatory of Holder: __________________________________

    

    

    Name of Authorized Signatory: ____________________________________________________

    

    

    
      [Signature Page to Warrant Amendment Agreement]

    

    
      
        

    

    Exhibit A

    

    

    DECLARATION OF STATUS FOR ISRAELI INCOME TAX PURPOSES

    (This declaration should be completed only by Non-Israeli Residents and Israeli Broker)

     

        

    You are receiving this form - the “Declaration of Status for Israeli Income Tax Purposes” as a holder of the Company's shares and/or warrants ("Securities" and "Holder", respectively).

    

    

    	
            PART I

          	
              Identification and details of Holder (including Eligible Israeli Brokers)

          

    	
            1. Name:

          	
            2. Type of Holder (more than one box may be applicable):

          
	
            (please print full name)

          	
            ☐    Corporation (or
                Limited Liability Company)

            ☐    Individual

            ☐    Trust

            ☐    Partnership

            ☐    Other:

            _________________

             

             

          	
            ☐    Bank

            ☐    Broker

            ☐    Financial Institution

          
	
            3. For individuals only:

          	
            4. For all other Holders

          
	
            Date of birth:  ______/_____/______

                month /  day  /  year

          	
            Country of incorporation or organization:

          
	
            Country of residence:

             

          	
            Registration number of corporation (if applicable):

          
	
            Countries of citizenship (name all citizenships):

             

          
	
            Taxpayer Identification or Social Security No. (if applicable):

             

             

             

          	
            Country of residence:

          
	
            5. Permanent Address (state, city, zip or postal code, street, house number,
              apartment number):

             

             

          
	
            6. Mailing Address (if different from above):

          	
            7.  Contact Details:

            Name:______________

            Capacity:_______________

                Telephone Number:___________________

                  (country code, area code and number):

             

             

             

          
	
            8. I hold the Securities of the Company (mark X in the appropriate place):

            ☐          directly, as a Registered Holder

            ☐          Through a Broker.  If you marked
                this box, please state the name of your Broker:  _________________

            ☐          Both directly and through a
                Broker.  If you marked this box, please state the name of your Broker:  _________________

             

          

    	
            PART II

          	
             Declaration by Non-Israeli Residents „ Eligible Israeli Brokers should not complete this Part II

          

    	
            A. To be completed only by Individuals.  I hereby declare that: (if the statement
              is correct, mark X in the following boxes)

          
	
            A.1 ☐    I am NOT and at the date of
                purchase of my Securities was not a “resident of Israel” for tax purposes as defined under Israeli law, which means, among other things, that:

            •    The State of Israel is not my
                permanent place of residence,

            •    The State of Israel is neither my
                place of residence nor that of my family (for this purpose "family" shall mean spouse and children under the age of 18),

            •    My ordinary
                or permanent place of activity is NOT in the State of Israel and I do NOT have a permanent establishment in the State of Israel,

            •    I do NOT engage in an occupation in
                the State of Israel,

            •    I do NOT own a business or part of a
                business in the State of Israel,

            •    I am NOT insured by the Israeli
                National Insurance Institution,

            •    I was NOT present (nor am I planning
                to be present) in Israel for 183 days or more during this tax year,

            •    I was NOT
                present (nor am I planning to be present) in Israel for 30 days or more during this tax year, and the total period of my presence in Israel during this tax year and the two previous tax years is less than 425 days in total.

            A.2 ☐    I acquired the Securities on or
                after 1.1.2009.

             

          

    

    

    
      [Signature Page to Warrant Amendment Agreement]

    

    
      
        

    

    

    

    	
            B. To be completed by Corporations (except Partnerships and Trusts).  I hereby
              declare that: (if correct, mark X in the following boxes)

          
	
            B.1 ☐    The corporation is NOT and at the date of purchase of its Securities was not a “resident of Israel” for tax
              purposes as defined under Israeli law, which means, among other things, that:

            •    The corporation is NOT registered
                with the Registrar of Companies in Israel,

            •    The corporation is NOT registered
                with the Registrar of "Amutot" (non-profit organizations) in Israel,

            •    The control of the corporation is
                NOT located in Israel,

            •    The management of the corporation
                is NOT located in Israel,

            •    The corporation does NOT have a
                permanent establishment in Israel, and

            •    No Israeli resident holds,
                directly or indirectly via shares or through a trust or in any other manner or with another who is an Israeli resident, 25% or more of any “means of control” in the corporation as specified below:

            o   The right to
                participate in profits;

            o   The right to
                appoint a director;

            o   The right to vote;

            o   The right to share
                in the assets of the corporation at the time of its liquidation; and

            o   The right to
                direct the manner of exercising one of the rights specified above.

            B.2 ☐   The corporation acquired the Securities on or after 1.1.2009

          
	
            C. To be completed by Partnerships.  I hereby declare that: (if correct, mark X in
              the following boxes)

          
	
            C.1 ☐    The partnership is NOT and at
                the date of purchase of its Securities was not a “resident of Israel” for tax purposes as defined under Israeli law, which means, among other things, that:

            •   The partnership is NOT registered
                with the Registrar of Partnerships in Israel,

            •   The control of the partnership is
                NOT located in Israel,

            •   The management of the partnership
                is NOT located in Israel,

            •   The partnership does NOT have a
                permanent establishment in Israel,

            •    NO Israeli resident holds,
                directly or indirectly via shares or through a trust or in any other manner or with another who is an Israeli resident, 25% or more of the rights in the partnership, and

            •    NO direct partner in the
                partnership is an Israeli resident.

            C.2 ☐    The partnership acquired the Securities on or after on
                or after 1.1.2009

          
	
            D. To be completed by Trusts. I hereby declare that: (if correct, mark X in the
              following boxes)

          
	
            D.1 ☐    The trust is NOT and at the date
                of purchase of its Securities was not a “resident of Israel” for tax purposes as defined under Israeli law, which means, among other things, that:

            •   The trust is NOT registered in
                Israel,

            •   The settlor of the trust is NOT an
                Israeli resident,

            •   The beneficiaries of the trust are
                NOT Israeli residents, and

            •   The trustee of the trust is NOT an
                Israeli resident.

            D.2 ☐  The trust acquired the Securities on or after 1.1.2009

          
	
            PART III

          	
            Declaration by Israeli Bank, Broker or Financial Institution „          Non-Israeli Residents should not complete this Part III

             

          
	
            I hereby declare that: (if correct, mark X in the following box)

            ☐       I am a
                bank, broker or financial institution that is a “resident of Israel” within the meaning of that term in Section 1 of the Ordinance , I am holding the Securities solely on behalf of beneficial shareholder(s) and I am subject to the
                provisions of the Ordinance and the regulations promulgated thereunder relating to the withholding of Israeli tax, including with respect to the cash payment (if any) made by me to such beneficial shareholder(s) with respect to Securities
                in connection with the Intel Tender Offer.

          
	
            PART IV

          	
             Certification. By signing this form, I also declare that:

          
	
            •     I understood this form and
                completed it correctly and pursuant to the instructions.

            •     I provided accurate, full and complete
                details in this form.

            •     I am aware that providing false details
                constitutes criminal offense.

            •     I are aware that
                this form may be provided to the Israeli Tax Authority, in case the Israeli Tax Authority so requests, for purposes of audit or otherwise.

          

    
       

      

    

    SIGN HERE „

    

    

    
      	
               

            	
               

            
	
              
                Signature of Holder                                Date

              

            	
              Capacity in which acting (or Individual authorized to sign On your behalf)

            

    

                                                                                             

    
      [Signature Page to Warrant Amendment Agreement]

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