Document:

Exhibit 4.5

 

OPTION AGREEMENT

 

OPTION AGREEMENT (this “Agreement”), made as of August 5, 2020, by and between Kismet Acquisition One Corp, a company incorporated in the British Virgin Islands as a business company with limited liability (the “Company”), and [·] (the “Optionee”).

 

WHEREAS, the Optionee is being appointed as a member of the board of directors of the Company (the “Board”) effective on the date hereof; and

 

WHEREAS, the sole member of the Board has approved the grant by the Company to the Optionee of an option to purchase ordinary shares of the Company, without par value (“Ordinary Shares”), on the terms set forth herein.

 

NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein and for other good and valuable consideration, the validity and sufficiency of which is hereby acknowledged, the parties agree as follows:

 

1.                                      Grant of Option.  Subject to the terms and conditions of this Agreement, the Company hereby grants the Optionee the right (the “Option”) to purchase all or any part of an aggregate of 40,000 Ordinary Shares.

 

2.                                      Vesting Schedule.  The Option shall vest and become exercisable in full only upon the consummation by the Company of a Business Combination (as such term is defined in the Company’s memorandum of association, as amended and restated on July 30, 2020) (the “Vesting Date”), subject to the Optionee continuing to serve as a member of the Board through the date immediately preceding the date of the consummation by the Company of a Business Combination.

 

3.                                      Exercise Price.  The exercise price of each Ordinary Share purchased pursuant to this Option shall be U.S.$10.00 (the “Exercise Price”).

 

4.                                      Exercise of Option.  The Optionee may exercise this Option, in whole or in part, with respect to any whole number of Ordinary Shares for which this Option is exercisable.  The Optionee shall exercise the Option by giving the Company written notice of such exercise, in the form attached hereto.  Such notice shall specify the number of Ordinary Shares to be purchased and shall be accompanied by payment, (i) in U.S. dollars, in cash, by wire transfer of immediately available funds, or by certified check or by official bank check, of an amount equal to the Exercise Price multiplied by the number of Ordinary Shares as to which the Option is being exercised or (ii) by instructing the Company to withhold a number of Ordinary Shares issuable upon exercise of the Option with an aggregate Fair Market Value (as defined below) as of the exercise date equal to the Exercise Price multiplied by the number of Ordinary Shares as to which the Option is being exercised.  “Fair Market Value” shall mean, as determined consistent with the applicable requirements of Sections 409A and 422 of the Internal Revenue Code of 1986, as amended, as of any specified date, the closing sales price of the Ordinary Shares for such date (or, in the event that the Ordinary Shares are not traded on such date, on the immediately preceding trading date) on the Nasdaq Stock Market or a domestic or foreign national securities exchange on which the Ordinary Shares may be listed, as determined in good faith by the Board. If the Ordinary Shares are not listed as set forth above, Fair Market Value shall be determined by the Board in good faith by any fair and reasonable means.

 

 

5.                                      Delivery of Ordinary Shares Certificate; Reservation of Ordinary Shares.

 

(a)                                 Subject to Section 6, as soon as practicable after receipt of the notice and payment referred to in Section 4 above, the Company shall deliver to the Optionee a certificate or certificates for such Ordinary Shares, or shall arrange for issuance of such Ordinary Shares to the Optionee in book entry form.

 

(b)                                 From the date hereof until the Expiration Date (as defined below), the Company shall at all times reserve and keep available out of its authorized but unissued Ordinary Shares or other securities to which the Optionee would be entitled pursuant to the terms of any recapitalization if, immediately prior to such recapitalization, the Optionee had been the holder of record of the number of Ordinary Shares then covered by the Option, solely for the purpose of issuance upon the exercise of this Option, the maximum number of shares issuable upon the exercise of this Option.

 

6.                                      Termination of Option.  Unless terminated earlier in accordance with the terms hereof, this Option and all rights of the Optionee to purchase Ordinary Shares hereunder shall terminate on the earliest to occur of (a) the fifth anniversary of the Vesting Date, (b) the liquidation of the Company if the Company does not consummate a Business Combination prior to such date, or (c) if the Optionee ceases to serve as a member of the Board prior to the date immediately preceding the date of the consummation by the Company of a Business Combination, the date of such cessation of service (the “Expiration Date”).

 

7.                                      Notice.  All notices, request, demands, waivers and communications required or permitted to be given hereunder shall be in writing and shall be delivered in person or mailed, certified or registered mail with postage prepaid, or sent by facsimile, as follows:

 

To the Company:

 

Kismet Acquisition One Corp

9 Building B, Lesnaya Street

Moscow, Russia 125196

Attn: Ivan Tavrin, Chairman and Chief Executive Officer

 

To Optionee:

 

To the address of the Optionee set forth on the signature page hereto.

 

or to 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. In the case of mailing, all such notices, requests, demands, waivers and communications shall be deemed to have been received on the third business day after the date of the mailing.  In the case of electronic mail after 5:00 P.M. local time at the place of delivery or on a day that is not a business day, all such notices, requests, demands, waivers and communications shall be deemed to have been received on the next business day.

 

8.                                      Certain Adjustments.

 

(a)                                 If, and whenever, prior to the termination of this Agreement and the distribution to the Optionee of Ordinary Shares underlying the Option, the Company shall effect a subdivision or consolidation of Ordinary Shares or the payment of a share dividend on Ordinary

 

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Shares without receipt of consideration by the Company, (X) the number of Ordinary Shares with respect to which the Option may thereafter be exercised or satisfied, as applicable, (i) in the event of an increase in the number of outstanding shares, shall be proportionately increased, and the purchase price per Ordinary Shares shall be proportionately reduced, and (ii) in the event of a reduction in the number of outstanding shares, shall be proportionately reduced, and the purchase price per Ordinary Share shall be proportionately increased, and (Y) any other share numbers contained in this Agreement shall be appropriately adjusted. Notwithstanding the foregoing or any other provision of this Section 8, any adjustment shall comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and in no event shall any adjustment be made which would render the Option subject to Section 409A of the Code.

 

(b)                                 If the Company recapitalizes or otherwise changes its capital structure, thereafter upon any exercise or satisfaction, as applicable, of the Option, the Optionee shall be entitled to purchase, in lieu of the number of Ordinary Shares then covered by the Option, the number and class of shares and securities to which the Optionee would have been entitled pursuant to the terms of the recapitalization if, immediately prior to such recapitalization, the Optionee had been the holder of record of the number of Ordinary Shares then covered by the Option.

 

(c)                                  In the event of changes to the outstanding Ordinary Shares by reason of extraordinary cash dividend, reorganization, mergers, consolidations, combinations, split-ups, spin-offs, exchanges or other relevant changes in capitalization occurring after the date of this Agreement and not otherwise provided for under this section, the Option shall be adjusted by the Board in its discretion as to the number and price of Ordinary Shares, other consideration subject to the Option, and/or other share numbers contained in this Agreement.

 

(d)                                 The number of Ordinary Shares subject to the option shall be rounded to the nearest whole number.

 

(e)                                  Any and all adjustments or actions taken by the Board of the Company pursuant to this Section shall be conclusive and binding for all purposes.

 

9.                                      No Restriction on the Right of the Company to Effect Corporate Changes.  The Option granted hereunder shall not affect in any way the right or power of the Company or its shareholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company, or any issue of shares or of options, warrants or rights to purchase shares or of bonds, debentures, preferred or prior preference shares whose rights are superior to or affect the Ordinary Shares or the rights of holders thereof or which are convertible into or exchangeable for Ordinary Shares, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise.

 

10.                               No Shareholder Rights.  The Optionee shall have no rights as a shareholder of the Company with respect to Ordinary Shares subject to this Option until payment for such shares shall have been made in full.  If the Optionee pays the Exercise Price with Ordinary Shares, the Optionee shall continue to be the shareholder of record with respect to the shares which it has tendered as exercise payment until the Optionee becomes the holder of record of the shares covered by the Option.

 

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11.                               Nontransferability.

 

(a)                                 Except as provided in Section 11(b) or by will or the laws of descent and distribution, the Option is not transferable, and may be exercised only by the Optionee.  In the event of any attempt by the Optionee to transfer, assign, pledge, hypothecate or otherwise dispose of the Option or of any right hereunder, except as provided for herein, or in the event of the levy of any attachment, execution or similar process upon the rights or interest hereby conferred, the Company may terminate the Option by notice to the Optionee and it shall thereupon become null and void.

 

(b)                                 Notwithstanding Section 11(a), the Optionee may transfer the Option, by gift or a domestic relations order, to a family member of the Optionee, or (b) the Optionee may transfer the Option to any officer, director, partner, member or affiliate of the Optionee, as long as no consideration is paid to the Optionee in connection with such transfer, provided in either case that the transferee agrees to be bound by the terms hereof.

 

(c)                                  Notwithstanding Sections 11(a) or (b), the Optionee may transfer the Option with the express, prior written consent of the board of directors of the Company, which consent may be withheld for any reason or for no reason.

 

12.                               Representations By and Covenants of Optionee. The following representations, warranties and covenants by Optionee are made as of the date of this Agreement and, unless stated otherwise herein, are also made as of each date of exercise of this Agreement.

 

(a)                                 If applicable, the Optionee understands and consents to the placement of a legend on any certificate or other document evidencing the Shares stating that they have not been registered under the Securities Act and setting forth or referring to the restrictions on transferability and sale thereof.

 

(b)                                 Optionee hereby represents that the address and facsimile number of Optionee furnished by him on the signature page of this Agreement is accurate and that said address is the Optionee’s principal residence.

 

(c)                                  This Agreement has been duly executed and delivered by the Optionee and constitutes the legal, valid and binding obligation of the Optionee, enforceable in accordance with its terms.

 

13.                               NSO.  It is intended that this Option shall be a non-qualified stock option and shall not constitute an incentive stock option for purposes of Section 422 of the Code.

 

14.                               Headings.  The headings of sections and subsections herein are included solely for convenience of reference and shall not affect the meaning of any of the provisions of this Agreement.

 

15.                               Severability.  In the event that any one or more provisions of this Agreement, or any action taken pursuant to this Agreement, should, for any reason, be unenforceable or invalid in any respect under any applicable laws, such unenforceability or invalidity shall not affect any other provision of this Agreement, but in such particular jurisdiction and instance this Agreement shall be construed as if such unenforceable or invalid provision had not been contained therein or if the action in question had not been taken thereunder.

 

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16.                               Governing Law.  This Agreement and all rights hereunder shall be construed in accordance with and governed by the internal laws of the British Virgin Islands applicable to agreements made and to be performed within the State of Delaware giving effect to any choice-of-law provisions thereof that would compel the application of the substantive laws of any other jurisdiction.

 

17.                               Entire Agreement; Amendment. This Agreement constitutes the entire agreement between the parties concerning the subject matter hereof. This Agreement may not be changed or modified except by an instrument in writing signed by both of the parties hereto.

 

18.                               Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.

 

[Signatures appear on following page]

 

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IN WITNESS WHEREOF, the Company and the Optionee have executed this Agreement effective as of the date first written above.

 

	
 
    	
KISMET ACQUISITION ONE CORP
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name: 
    	
Ivan Tavrin
    
	
 
    	
Title:
    	
Chief Executive Officer
    
	
 
    	
 
    
	
 
    	
OPTIONEE:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Name:
    
	
 
    	
Address:
    

 

 

EXERCISE FORM

 

	
 
    	
 
    	
Dated
    	
 
    

 

(1)                                 The undersigned hereby irrevocably elects to exercise the within Option to the extent of purchasing the number of Ordinary Shares of Kismet Acquisition One Corp (the “Company”) (or such number of Ordinary Shares or other securities or property to which the undersigned is entitled in lieu thereof or in addition thereto under the provisions of the Option) specified below:

 

Number of Shares to be purchased:

 

(2)  The undersigned hereby elects to make payment (Please check one):

 

o      by wire transfer of immediately available funds, which funds have been directed to the Company’s bank account.

 

o      with the enclosed bank draft, certified check or money order payable to the Company.

 

o      by allowing the Company to withhold such number of Ordinary Shares issuable upon exercise of the Option with an aggregate Fair Market Value as of the exercise date equal to the Exercise Price multiplied by the number of Ordinary Shares as to which the Option is being exercised.

 

(3)  The undersigned hereby irrevocably directs that the said shares be issued and delivered as follows:

 

	
Name(s) in Full
    	
 Address(es)
    	
Number of Shares
    	
 S.S. or IRS #
    

 

 

(4)  If the Option was not exercised in full, please check the following: o

 

The undersigned hereby irrevocably directs that any remaining portion of the Option be issued and delivered as follows:

 

	
Name(s) in Full
    	
 Address(es)
    	
Number of Shares
    	
 S.S. or IRS #
    
	
 
    	
 
    	
 
    	
 
    

 

	
 
    	
 
    
	
Signature of Holder
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
Print NameExhibit 4.6

 

ASSIGNMENT, ASSUMPTION AND AMENDMENT AGREEMENT

(OPTION AGREEMENT)

 

This Assignment, Assumption and Amendment Agreement (this “Agreement”) is made as of [·], 2021, by and among Kismet Acquisition One Corp, a company incorporated in the British Virgin Islands (the “Company”), Nexters Inc., a British Virgin Islands business company (“Pubco”), and [·] (the “Optionee”).

 

WHEREAS, the Company and the Optionee are parties to that certain Option Agreement, dated as of August 5, 2020 (the “Existing Option Agreement”), pursuant to which the Company has issued to the Optionee an option (the “Option”) to purchase 40,000 ordinary shares of the Company, no par value per share (“Ordinary Shares”);

 

WHEREAS, the terms of the Option are governed by the Existing Option Agreement and capitalized terms used herein, but not otherwise defined, shall have the meanings given to such terms in the Existing Option Agreement;

 

WHEREAS, on January 31, 2021, the Company, Pubco, Nexters Global Ltd., a private limited liability company domiciled in Cyprus (“Nexters”), and certain other persons and entities entered into a Business Combination Agreement (as amended from time to time, the “Business Combination Agreement”);

 

WHEREAS, pursuant to the Business Combination Agreement, among other things, the Company will merge with and into Pubco (the “Merger”), as a result of which the separate corporate existence of the Company shall cease and Pubco shall continue as the surviving company, and each issued and outstanding security of the Company shall no longer be outstanding and shall automatically be cancelled, in exchange for the right of the holder thereof to receive a substantially equivalent security of Pubco;

 

WHEREAS, upon consummation of the Merger, as provided in Section 8 of the Existing Option Agreement, the Option will no longer be exercisable for Ordinary Shares but instead will be exercisable (subject to the terms and conditions of the Existing Option Agreement as amended hereby) for a like number of ordinary shares of Pubco, no par value per share (“Pubco Ordinary Shares”);

 

WHEREAS, the consummation of the transactions contemplated by the Business Combination Agreement will constitute a Business Combination for purposes of the Existing Option Agreement; and

 

WHEREAS, in connection with the Merger, the Company desires to assign all of its right, title and interest in the Existing Option Agreement to Pubco.

 

NOW, THEREFORE, in consideration of the mutual agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties hereto agree as follows.

 

 

1.                                      Assignment and Assumption; Consent.

 

1.1                               Assignment and Assumption.  The Company hereby assigns to Pubco all of the Company’s right, title and interest in and to the Existing Option Agreement (as amended hereby) as of the Merger Effective Time (as defined in the Business Combination Agreement). Pubco hereby assumes, and agrees to pay, perform, satisfy and discharge in full, as the same become due, all of the Company’s liabilities and obligations under the Existing Option Agreement (as amended hereby) arising from and after the Merger Effective Time.

 

1.2                               Consent.  The Optionee hereby consents to the assignment of the Existing Option Agreement by the Company to Pubco pursuant to Section 1.1 hereof effective as of the Merger Effective Time, and the assumption of the Existing Option Agreement by Pubco from the Company pursuant to Section 1.1 hereof effective as of the Merger Effective Time, and to the continuation of the Existing Option Agreement in full force and effect from and after the Merger Effective Time, subject at all times to the Existing Option Agreement (as amended hereby) and to all of the provisions, covenants, agreements, terms and conditions of the Existing Option Agreement and this Agreement.

 

2.                                      Amendment of Existing Option Agreement.  The Company and the Optionee hereby amend the Existing Option Agreement as provided in this Section 2, effective as of the Merger Effective Time:

 

2.1                               Company.  All references in the Existing Option Agreement to the “Company” shall be references to Nexters Inc. rather than Kismet Acquisition One Corp.

 

2.2                               Ordinary Shares.  All references in the Existing Option Agreement to Ordinary Shares shall be references to Pubco Ordinary Shares (as such term is defined in the Business Combination Agreement) rather than ordinary shares of Kismet Acquisition One Corp.

 

2.3                               Vesting.  Section 2 of the Existing Option Agreement is hereby deleted and replaced with the following:

 

“2.                                Vesting Schedule. The Option is fully vested and exercisable as of [·], 2021.(1)”

 

3.                                      Miscellaneous Provisions.

 

3.1                               Effectiveness of Agreement.  Each of the parties hereto acknowledges and agrees that the effectiveness of this Agreement shall be expressly subject to the occurrence of the Merger and shall automatically be terminated and shall be null and void if the Business Combination Agreement shall be terminated for any reason.

 

3.2                               Successors.  All the covenants and provisions of this Agreement by or for the benefit of the Company or the Optionee shall bind and inure to the benefit of their permitted respective successors and assigns.

 

3.3                               Severability.  This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or

 

(1)  Insert date of Assignment, Assumption and Amendment Agreement.

 

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enforceability of this Agreement or of any other term or provision hereof.  Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

3.4                               Applicable Law.  This Agreement and all rights hereunder shall be construed in accordance with and governed by the internal laws of the British Virgin Islands applicable to agreements made and to be performed within the British Virgin Islands giving effect to any choice-of-law provisions thereof that would compel the application of the substantive laws of any other jurisdiction.

 

3.5                               Counterparts.  This Agreement may be executed in any number of counterparts, and by facsimile or portable document format (pdf) transmission, and each of such counterparts shall for all purposes be deemed to be an original and all such counterparts shall together constitute but one and the same instrument.

 

3.6                               Effect of Headings.  The Section headings herein are for convenience only and are not part of this Agreement and shall not affect the interpretation thereof.

 

3.7                               Entire Agreement.  The Existing Option Agreement, as modified by this Agreement, constitutes the entire understanding of the parties and supersedes all prior agreements, understandings, arrangements, promises and commitments, whether written or oral, express or implied, relating to the subject matter hereof, and all such prior agreements, understandings, arrangements, promises and commitments are hereby canceled and terminated.

 

[Remainder of page intentionally left blank.]

 

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IN WITNESS WHEREOF, each of the parties has caused this Agreement to be duly executed as of the date first above written.

 

	
 
    	
KISMET ACQUISITION ONE CORP
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    
	
 
    	
 
    
	
 
    	
NEXTERS INC.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
 
    

 

[Signature Page to Assignment, Assumption and Amendment Agreement]

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