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Document

EXHIBIT 10.1

SECOND AMENDMENT TO CREDIT AGREEMENTS

This Second Amendment to Credit Agreements (this “Amendment”) is entered into as of August 11, 2022, and effective as of June 30, 2022, by and among Local Bounti Operating Company LLC, a Delaware limited liability company and successor by merger to Local Bounti Corporation, a Delaware corporation  (the “Company”), Local Bounti Corporation, a Delaware corporation formerly known as Leo Holdings III Corp (“Holdings”) and the other Guarantors signatory hereto, the Subsidiary Borrowers signatory hereto, Cargill Financial Services International, Inc., a Delaware corporation (“CFSI”), in its capacity as the Senior Lender (as defined below), and CFSI, in its capacity as the Subordinated Lender (as defined below).
The Company and CFSI are parties to (i) a Credit Agreement dated as of September 3, 2021 (as amended by a First Amendment to Credit Agreements and Subordination Agreement dated as of March 14, 2022 (the “First Amendment”), and as further amended, restated, supplemented or otherwise modified from time to time, the “Senior Credit Agreement”), among the Company, certain Subsidiaries of the Company from time to time party thereto, as borrowers (the “Subsidiary Borrowers” and, together with the Company, the “Borrowers”), and CFSI, as lender (in such capacity, the “Senior Lender”), and (ii) a Subordinated Credit Agreement dated as of September 3, 2021 (as amended by the First Amendment, and as further amended, restated, supplemented or otherwise modified from time to time, the “Subordinated Credit Agreement” and, together with the Senior Credit Agreement, the “Credit Agreements”), among the Company, the Subsidiary Borrowers from time to time party thereto, and CFSI, as lender (in such capacity, the “Subordinated Lender”). 
The Borrowers have requested that the Senior Lender and the Subordinated Lender make certain amendments to the Credit Agreements, and the Senior Lender and the Subordinated Lender is each willing to grant such request on the terms and subject to the conditions set forth herein.
ACCORDINGLY, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
1.    Definitions.  As used herein, capitalized terms defined in the Credit Agreements and not otherwise defined herein shall have the meanings given them in the Credit Agreements.  
2.    Amendments to Senior Credit Agreement.  The Senior Credit Agreement is hereby amended as follows:
(a)    Section 1.1 of the Senior Credit Agreement is amended by adding or amending and restating, as the case may be, the following definitions:
“Minimum Interest Amount” means (x) so long as the Qualified Reduced Interest Reserve Period is in effect, an amount equal to the greater of (I) $0 and (II) the sum of all interest payments due and payable by the Borrowers in respect of Term Loans outstanding for a period of four (4) calendar quarters (equal to $9,142,898.05 as of the Second Amendment Effective Date), and (y) at all other times until (and including) the last Business Day of the calendar quarter ending March 31, 2024, an amount equal to the greater of (I) $0 and (II) the sum of all interest payments due and payable by the Borrowers in respect of Term Loans outstanding during the period commencing on the First Amendment Funding Date and ending on the last Business Day of the calendar quarter ending March 31, 2024; provided that, in the case of each of the preceding clause (x) and clause (y), to the extent the aggregate principal balance of outstanding Term Loans during such applicable period is at any time less than $75,000,000, the Minimum Interest Amount shall be determined assuming that aggregate principal balance of outstanding Term Loans is $75,000,000.
			
	

“Minimum P&I Amount” means, as of any date of determination occurring during the periods described in the table below, the amount set forth opposite each such applicable period:
						
	Period	Minimum P&I Amount
	The period commencing on the First Amendment Funding Date and ending on March 31, 2024	The Minimum Interest Amount (which amount, so long as no Qualified Reduced Interest Reserve Period is in effect, may be reduced from time to time as a result of the application of funds in the Debt Service Reserve Account to the payment of interest in accordance with Sections 2.3(a) and 2.3(d)), plus the amount of principal payments that would be required pursuant to Section 2.3(b) for two (2) calendar quarters, calculated based on the greater of (i) the aggregate principal balance of outstanding Term Loans during such period and (ii) $75,000,000

	The period commencing on April 1, 2024 and at all times thereafter	An amount equal to the sum of interest and principal payments that would be required pursuant to Section 2.3 for two (2) calendar quarters, calculated based on the outstanding principal balance of the Term Loans as of the Term Loan Commitment Termination Date

“Qualified Equity Financing” means an equity financing pursuant to which Holdings issues and sells shares of its equity securities to investors in an arm’s-length transaction for the principal purpose of raising capital.
“Qualified Reduced Interest Reserve Period” means the period commencing on the Second Amendment Effective Date and ending on the earlier of (a) the occurrence of any Event of Default, (b) the effective date of a Qualified Equity Financing, and (c) March 31, 2024.
“Second Amendment Effective Date” means June 30, 2022.
(b)    Section 5.17(b) of the Senior Credit Agreement is amended and restated in its entirety to read as follows:
(b)    If at any time (whether as a result of the end or expiration of the Qualified Reduced Interest Reserve Period, fluctuations in applicable interest rates or otherwise) the funds in the Debt Service Reserve Account are determined by the Lender in its reasonable discretion to be less than the Minimum P&I Amount (each such shortfall, a “DSRA Shortfall”), the Borrowers shall promptly (and in any event not later than two (2) Business Days after a DSRA Shortfall has been identified) fund or otherwise remit cash (including, at the Borrowers’ election, any proceeds of a Term Loan) to the Debt Service Reserve Account in an amount equal to or greater than such DSRA 
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Shortfall.  For the avoidance of doubt, the Borrowers shall cause the Debt Service Reserve Account to be subject to a blocked Account Control Agreement in favor of the Lender at all times.
3.    Amendments to Subordinated Credit Agreement.  The Subordinated Credit Agreement is hereby amended as follows:
(a)    Section 1.1 of the Subordinated Credit Agreement is amended by adding or amending and restating, as the case may be, the following definitions:
“Initial Minimum Interest Amount” means (x) so long as the Qualified Reduced Interest Reserve Period is in effect, an amount equal to the greater of (I) $0 and (II) the sum of all interest payments due and payable by the Borrowers in respect of Term Loans outstanding for a period of four (4) calendar quarters (equal to $5,156,666.67 as of the Second Amendment Effective Date), and (y) at all other times until (and including) the last Business Day of the calendar quarter ending March 31, 2024, an amount equal to the greater of (I) $0 and (II) the sum of all interest payments due and payable by the Borrowers in respect of Term Loans outstanding during the period commencing on the First Amendment Funding Date and ending on the last Business Day of the calendar quarter ending March 31, 2024; provided that, in the case of each of the preceding clause (x) and clause (y), to the extent the aggregate principal balance of outstanding Term Loans during such applicable period is at any time less than $20,000,000, the Minimum Interest Amount shall be determined assuming that aggregate principal balance of outstanding Term Loans is $20,000,000
“Minimum Interest Amount” means, as of any date of determination occurring during the periods described in the table below, the amount set forth opposite each such applicable period:
						
	Period	Minimum Interest Amount
	The period commencing on the First Amendment Funding Date and ending on March  31, 2024	The Initial Minimum Interest Amount (which amount, so long as no Qualified Reduced Interest Reserve Period is in effect, may be reduced from time to time as a result of the application of funds in the Interest Reserve Account to the payment of interest in accordance with Sections 2.3(a) and 2.3(d))
	The period commencing on April 1, 2024 and at all times thereafter	An amount equal to interest payments that would be required for two (2) calendar quarters, calculated based on the aggregate principal balance of outstanding Term Loans during such period

“Qualified Equity Financing” means an equity financing pursuant to which Holdings issues and sells shares of its equity securities to investors in an arm’s-length transaction for the principal purpose of raising capital.
“Qualified Reduced Interest Reserve Period” means the period commencing on the Second Amendment Effective Date and ending on the earlier of (a) the occurrence of 
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any Event of Default, (b) the effective date of a Qualified Equity Financing, and (c) March 31, 2024.
“Second Amendment Effective Date” means June 30, 2022.
(b)    Section 5.17(b) of the Subordinated Credit Agreement is amended and restated in its entirety to read as follows:
(b)    If at any time (whether as a result of the end or expiration of the Qualified Reduced Interest Reserve Period, fluctuations in applicable interest rates or otherwise) the funds in the Interest Reserve Account are determined by the Lender in its reasonable discretion to be less than the Minimum Interest Amount (each such shortfall, an “IRA Shortfall”), the Borrowers shall promptly (and in any event not later than two (2) Business Days after an IRA Shortfall has been identified) fund or otherwise remit cash (including, at the Borrowers’ election, any proceeds of a Term Loan) to the Interest Reserve Account in an amount equal to or greater than such IRA Shortfall.  For the avoidance of doubt, the Borrowers shall cause the Interest Reserve Account to be subject to a blocked Account Control Agreement in favor of the Lender at all times.
4.    References.  All references in each Credit Agreement to “this Agreement” shall be deemed to refer to such Credit Agreement as amended hereby and any and all references in any other Loan Documents to the Credit Agreements shall be deemed to refer to the Credit Agreements as amended hereby.
5.    No Other Changes.  Except as expressly set forth herein, all terms of each Credit Agreement and each of the other Loan Documents remain in full force and effect.
6.    Representations and Warranties.  Each Loan Party represents and warrants to the Senior Lender and the Subordinated Lender as follows: 
(a)    Such Loan Party is a corporation or limited liability company, as applicable, duly formed, validly existing and in good standing under the Laws of the jurisdiction of its incorporation or organization.  Each Loan Party (i) has all requisite power and authority and all requisite governmental licenses, authorizations, consents and approvals to (A) own or lease its assets and carry on its business and (B) execute and deliver this Amendment and perform its obligations under this Amendment, the Credit Agreements as amended hereby and each agreement, instrument or document entered into pursuant to any of the foregoing (collectively, the “Amendment Documents”), and (ii) is duly qualified and is licensed and, if applicable, in good standing under the Laws of each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification or license, except, in the case of clause (ii), in jurisdictions where the failure to be so qualified or in good standing, individually or in the aggregate, has not had and could not reasonably be expected to result in a Material Adverse Effect.
(b)    The execution and delivery by such Loan Party of this Amendment, and the performance by such Loan Party of the Amendment Documents, have been duly authorized by all necessary corporate or other organizational action, and do not and will not (i) contravene the terms of its Organizational Documents, (ii) conflict with or result in any breach or contravention of, or the creation of any Lien under, or require any payment to be made under, (A) any Contractual Obligation (including, without limitation, any Material Agreement or any Contractual Obligation relating to borrowed money) to which such Loan Party is a party or affecting any such Loan Party or the properties of such Loan Party or (B) any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which such Loan Party or its property is subject, or (iii) violate any Law other than any violation, in the case of this clause (iii), that could not reasonably be expected to result in a Material Adverse Effect.
(c)    This Amendment has been duly executed and delivered by such Loan Party.  Each Amendment Document constitutes a legal, valid and binding obligation of each Loan Party 
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that is a party thereto, enforceable against such Loan Party in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, receivership, moratorium or other Laws affecting creditors’ rights generally and by general principles of equity.
(d)    All of the representations and warranties contained in the Loan Documents, including without limitation in Article III of each Credit Agreement, are true and correct in all material respects (or, in the case of any such representation or warranty already qualified by materiality, in all respects) on and as of the date hereof.
(e)    No Default or Event of Default has occurred and is continuing, or would result from, (i) the execution and delivery of this Amendment or (ii) the consummation of the transactions contemplated under this Amendment or the Credit Agreements as amended hereby.
7.    Effectiveness.  This Amendment shall be effective as of the Second Amendment Effective Date upon receipt by the Senior Lender and the Subordinated Lender of a copy of this Amendment, duly executed by the Loan Parties, the Senior Lender and the Subordinated Lender.
8.    No Waiver or Extension.  Neither the execution of this Amendment or of any other agreement, instrument or document contemplated hereunder, nor any oral communication between the Senior Lender, the Subordinated Lender and any Loan Party, nor the making of any financial accommodation, nor any acceptance of any payment of the Obligations, shall be deemed to be a waiver of any Default or Event of Default or any other breach, default or event of default under any Loan Document or other document held by the Senior Lender or the Subordinated Lender, whether or not known to the Senior Lender or the Subordinated Lender and whether or not existing on the date hereof.
9.    Release of Lenders.  By its signature below, each Loan Party, for itself and on behalf of its respective present and former shareholders, members, directors and officers thereof and such Loan Party’s successors (including, without limitation, any trustees or receivers acting on behalf of such Loan Party and any debtor-in-possession with respect to such Loan Party), assigns, subsidiaries and Affiliates (collectively, the “Releasors”), hereby absolutely and unconditionally releases and forever discharges each of the Senior Lender and the Subordinated Lender, and any and all of the Senior Lender’s and the Subordinated Lender’s respective participants, parent companies, subsidiaries, Affiliates, insurers, indemnitors, successors and assigns, together with all of the present and former directors, officers, agents and employees of any of the foregoing (collectively, the “Released Parties”), from any and all claims, demands or causes of action of any kind, nature or description, whether arising in Law or equity or upon contract or tort or under any state or federal Law or otherwise, which any Releasor has had, now has or has made claim to have against any Released Party for or by reason of any act, omission, matter, cause or thing whatsoever occurring or arising prior to the date of this Amendment, whether such claims, demands and causes of action are matured or unmatured, known or unknown, liquidated or unliquidated, matured or unmatured, or fixed or contingent.
10.    Acknowledgment and Agreement of Guarantors.  By its signature below, each Guarantor (i) consents to the terms and execution of this Amendment; (ii) acknowledges that (x) all indebtedness arising under the Senior Credit Agreement, as amended hereby, constitutes indebtedness guarantied under each Guaranty (as defined in the Senior Credit Agreement) and secured by the Security Agreement (as defined in the Senior Credit Agreement), and (y) all indebtedness arising under the Subordinated Credit Agreement, as amended hereby, constitutes indebtedness guarantied under each Guaranty (as defined in the Subordinated Credit Agreement) and secured by the Security Agreement (as defined in the Subordinated Credit Agreement); (iii) reaffirms (x) all of its obligations to the Senior Lender pursuant to the terms of its Guaranty (as defined in the Senior Credit Agreement), the Security Agreement (as defined in the Senior Credit Agreement) and the other Loan Documents (as defined in the Senior Credit Agreement) to which it is a party, and (y) all of its obligations to the Subordinated Lender pursuant to the terms of its Guaranty (as defined in the Subordinated Credit Agreement), the Security Agreement (as defined in the Subordinated Credit Agreement) and the other Loan Documents (as defined in the Subordinated Credit Agreement) to which it is a party; and (iv) acknowledges that (x) the Senior Lender may amend, restate, extend, renew or otherwise modify the Senior Credit Agreement and any indebtedness or agreement of the Borrowers thereunder, or enter into any agreement or extend additional 
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or other credit accommodations in connection therewith, without notifying or obtaining the consent of such Guarantor and without impairing the liability of such Guarantor under any Guaranty (as defined in the Senior Credit Agreement), the Security Agreement (as defined in the Senior Credit Agreement) or any other Loan Document (as defined in the Senior Credit Agreement) to which it is a party, and (y) the Subordinated Lender may amend, restate, extend, renew or otherwise modify the Subordinated Credit Agreement and any indebtedness or agreement of the Borrowers thereunder, or enter into any agreement or extend additional or other credit accommodations in connection therewith, without notifying or obtaining the consent of such Guarantor and without impairing the liability of such Guarantor under any Guaranty (as defined in the Subordinated Credit Agreement), the Security Agreement (as defined in the Subordinated Credit Agreement) or any other Loan Document (as defined in the Subordinated Credit Agreement) to which it is a party.
11.    Costs and Expenses.  Each Borrower hereby reaffirms its obligation under Section 8.3(a) of each Credit Agreement to pay or reimburse the Senior Lender or the Subordinated Lender, as applicable, for all reasonable and documented out-of-pocket expenses incurred by the Senior Lender or the Subordinated Lender, as applicable, and their respetive Affiliates (including the reasonable and documented fees, charges and disbursements of outside counsel for the Senior Lender and the Subordinated Lender) to the extent required pursuant to Section 8.3(a) of each Credit Agreement, in connection with the preparation, negotiation, execution, delivery and administration of this Amendment and the other documents, agreements and certificates contemplated hereunder.
12.    Miscellaneous.  This Amendment shall be governed by, and construed in accordance with, the internal law of the State of New York (without giving effect to the conflict of laws principles thereof other than Sections 5-1401 and 5-1402 of the New York General Obligations Law, which shall apply to this Amendment and all documentation hereunder).  This Amendment, together with the Credit Agreements as amended hereby and the other Loan Documents, comprises the final and complete integration of all prior expressions by the parties hereto with respect to the subject matter hereof and shall constitute the entire agreement among the parties hereto with respect to such subject matter, superseding all prior oral or written understandings.  Any provision of this Amendment which is prohibited or unenforceable shall be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof.  Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose.  This Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which counterparts, taken together, shall constitute but one and the same instrument.  Delivery of an executed counterpart of a signature page to this Amendment by facsimile or by e-mail transmission of a PDF or similar copy shall be equally as effective as delivery of an original executed counterpart of this Amendment.  Any party delivering an executed counterpart signature page by facsimile or by e-mail transmission shall also deliver an original executed counterpart, but the failure to deliver an original executed counterpart shall not affect the validity, enforceability or binding effect of this Amendment.  
Signature pages follow.
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IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the day and year first above written. 
LOCAL BOUNTI OPERATING COMPANY LLC, as Borrower

By:     /s/ Kathleen Valiasek    
Name: Kathleen Valiasek
Title:  Chief Financial Officer

BOUNTI BITTERROOT LLC, as Borrower

By:     /s/ Kathleen Valiasek    
Name: Kathleen Valiasek
Title:  Chief Financial Officer

CONTROLLED ENVIRONMENT PROPERTY COMPANY, LLC, as Borrower

By: LOCAL BOUNTI OPERATING COMPANY LLC, its sole member

By:     /s/ Kathleen Valiasek    
Name: Kathleen Valiasek
Title:  Chief Financial Officer

GROW BOUNTI NORTHWEST, LLC, as Borrower

By: CONTROLLED ENVIRONMENT PROPERTY COMPANY, LLC, its sole member

By: LOCAL BOUNTI OPERATING COMPANY LLC, its sole member

By:     /s/ Kathleen Valiasek    
Name: Kathleen Valiasek
Title: Chief Financial Officer 
Signature Page to Second Amendment to Credit Agreements

531 FOLEY LANE HAMILTON, LLC, as Borrower

By:     /s/ Kathleen Valiasek    
Name: Kathleen Valiasek
Title:   President

LOCAL BOUNTI CORPORATION, as Holdings

By:     /s/ Kathleen Valiasek    
Name: Kathleen Valiasek
Title:   Chief Financial Officer

Signature Page to Second Amendment to Credit Agreements

2139 E. 8TH STREET GREELEY, LLC, as Guarantor

By:     /s/ Kathleen Valiasek    
Name: Kathleen Valiasek
Title:   President 

HOLLANDIA PRODUCE GROUP, INC., as Guarantor

By:     /s/ Kathleen Valiasek    
Name: Kathleen Valiasek
Title:   President

HOLLANDIA PRODUCE GA, LLC, as Guarantor

By:     /s/ Kathleen Valiasek    
Name: Kathleen Valiasek
Title:   President

ADVANCED SUSTAIN ABILITY, LLC, as Guarantor

By:     /s/ Kathleen Valiasek    
Name: Kathleen Valiasek
Title:   President

HOLLANDIA REAL ESTATE, LLC, as Guarantor

By:     /s/ Kathleen Valiasek    
Name: Kathleen Valiasek
Title:   President

GREEN GROWTH CONSULTING, LLC, as Guarantor

By:     /s/ Kathleen Valiasek    
Name: Kathleen Valiasek
Title:  President 

Signature Page to Second Amendment to Credit Agreements

HOLLANDIA FLOWERS, LLC, as Guarantor

By:     /s/ Kathleen Valiasek    
Name: Kathleen Valiasek
Title:   President

HOLLANDIA PRODUCE, LLC, as Guarantor

By:     /s/ Kathleen Valiasek    
Name: Kathleen Valiasek
Title:   President
Signature Page to Second Amendment to Credit Agreements

CARGILL FINANCIAL SERVICES INTERNATIONAL, INC., as Senior Lender 

By:     /s/ Erik Haugen    
Name:  Erik Haugen    
Title:    TM Settlement Manager    

CARGILL FINANCIAL SERVICES INTERNATIONAL, INC., as Subordinated Lender 

By:     /s/ Erik Haugen    
Name:  Erik Haugen    
Title:    TM Settlement Manager    

Signature Page to Second Amendment to Credit AgreementsExhibit 10.2
OSIRIS ACQUISITION CORP.
95 5th Avenue, 6th Floor
New York, NY 10003
Makan Delrahim
95 5th Avenue, 6th Floor
New York, NY 10003
Dear Mr. Delrahim,
As previously discussed, attached hereto as Annex A is a summary of the terms (the “Term Sheet”) in connection with your service as a director of Osiris Acquisition Corp. This letter and Term Sheet memorialize our agreement and constitute a binding commitment on both parties. Please indicate your agreement with the foregoing, by signing this letter where indicated below.
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	Very truly yours,

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	OSIRIS ACQUISITION CORP.

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	By:
	/s/ Anthony Martucci

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	Name: Anthony Martucci

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	Title: Chief Financial Officer

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	Agreed to and accepted:
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	/r/ Makan Delrahim
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	Dated:04/12/2022
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Annex A
Summary of Terms for Director of Osiris Acquisition Corp.
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	Parties:
	Company: Osiris Acquisition Corp., a Delaware corporation (the “Company”); and

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	Director: Makan Delrahim (the “Director”).

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	Term:
	Subject to the Director’s re-election, the Director will serve until such time that such Director’s successor is duly elected and qualified, or until such Director’s death or removal from office.

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	The Director may be removed, with or without cause, at any time by the board of directors (the “Board”).

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	The Director will be automatically removed from the Board if such Director resigns such Director’s office by writing delivered to the Board.

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	Fees and Expenses:
	One-time cash payment of $400,000, to be paid promptly following the date hereof.

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	If the Director resigns, other than in connection with the consummation of a “deSPAC” transaction, or is removed from the Board for cause, then the Director shall repay the Company an amount equal to (i) $400,000 minus (ii) the product of (A) $28,570 multiplied by (B) the number of full months that have elapsed from the commencement of the Director’s service on the Board through the date of such resignation or removal.  Such repayment shall be made within 30 days following such resignation or removal.

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	The Company shall reimburse to the Director all travel expenses reasonably incurred by such Director in the proper performance of the Director’s obligations under this letter, provided that the Director supplies receipts or other evidence of such expenditures.

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	Citizenship
	The Director confirms that he is a citizen of the United States.

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	Duties, Time and Commitment:
	Shall use reasonable best efforts to attend all convened meetings of the Board and, if requested by the Board, meetings of the shareholders of the Company.

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	Duties of committee members are as set forth in the committee charters and include attendance of committee meetings.

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	During the continuance of the Director’s appointment, the Director will be expected to:

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	(i)

faithfully, efficiently, competently and diligently perform the Director’s duties and exercise such powers as are appropriate to the Director’s role as a non-executive director;

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	(ii)

in so far as reasonably possible, attend all meetings of the Board and of any committees of the Board of which the Director is a member;

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	(iii)

promptly declare, so far as the Director is aware, the nature of any interest, whether direct or indirect, in any contract or proposed contract entered into by any member of the Company;

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	(iv)

comply with all reasonable requests, instructions and regulations made or given by the Board (or by any duly authorized committee thereof) and give to the Board such explanations, information and assistance as the Board may reasonably require;

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	(v)

act in the best interests of the Company; and

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	(vi)

use commercially reasonable efforts to promote and extend the interests and reputation of the Company, including assisting the Board in relation to public and corporate affairs and bringing to bear for the benefit of the Board the Director’s particular knowledge and experience.

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	Since the Director is classified as an independent director, the Director shall promptly inform the Board of any circumstances that would likely affect such independent status.

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	The Director shall inform the Board within 10 business days of the Director’s appointment of any held (indirect and indirect) personal interests which may conflict with the Company and its business.

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	Confidential Information
	The Director agrees that both during and after the Director’s time as a director of the Company, the Director will not use for the Director’s own, or for another’s benefit, or disclose or permit the disclosure of any confidential information relating to the Company, including without limitation any information about the deliberations of the Board.

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	The restriction shall cease to apply to any confidential information which may (other than by reason of the Director’s breach of these terms) become available to the public generally.

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	The Director also agrees during the Director’s appointment that the Director will not, other than for the benefit of the Company and in

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	connection with service as a director, make any notes, memoranda, electronic records, tape records, films, photographs, plans, drawings or any form of record relating to any matter within the scope of the business or concerning the dealings or affairs of the Company and will return any such items at any time at the request of the Board.

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	The Director confirms that the Director has notified the Board in writing of all other directorships, appointments and interests, including any directorship, appointment or interest in a company, business or undertaking which competes or is likely to compete with the Company or which could otherwise potentially give rise to a conflict with the Director’s duties with the Company (a “Competing Interest”).

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	The Director undertakes that during the term of the Director’s appointment, the Director will promptly disclose to the Board in writing any new directorship, appointment or interest.

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	Indemnification:
	The Director is entitled to indemnification and advancement of expenses by the Company to the fullest extent permitted by Section 145 of the Delaware General Corporation Law as set forth in the Second Amended and Restated Certificate of Incorporation of the Company (the “Charter”).  The Charter provides, amongst other things, for indemnification of the Director, to the fullest extent permitted by law, for any losses, liabilities, expenses, incurred or suffered by in connection with any action, suit or proceeding in which the Director is made a party or threatened to be made a party by reason of his service as a director of the Company.  The Charter further provides that indemnification will continue after the Director has ceased to be a director of the Company and shall inure to the benefit of his or her heirs, executors and administrators.

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	Insurance:
	The Company has an insurance policy under which the directors and officers of the Company are insured, subject to the limits of the policy, against certain losses arising from claims made against such directors and officers by reason of any acts or omissions covered under the policy in their respective capacities as directors or officers of the Company, including certain liabilities under securities laws.

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	Miscellaneous
	This letter does not create the relationship of employee and employer between the Director and the Company.

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	This letter constitutes the entire agreement between the Director and the Company with respect to the subject matter hereof and supersedes any prior agreement or understanding among or between them with respect to such subject matter.

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	Governing Law and Jurisdiction:
	The terms hereunder are governed under the laws of Delaware. The Delaware courts have non-exclusive jurisdiction to settle any dispute and the parties submit to the non-exclusive jurisdiction of the Delaware courts.

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	The structure, practices and committees of the Board, including matters relating to the size, independence and composition of the Board, the election and removal of directors, requirements relating to Board action, the powers delegated to Board committees and the appointment of executive officers, are governed by the Company’s Charter and Bylaws (as in effect from time to time).

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	Notices:
	Any notice to be given under the terms of this letter shall, in the case of notice to the Company, be deemed to be given if left at or sent by first class post or facsimile transmission (in each case, addressed to the Chief Financial Officer) to Osiris Acquisition Corp., 95 5th Avenue, 6th Floor, New York, New York 10003, Attention: Anthony Martucci. Any such notice shall be deemed to be given at the time of its delivery or dispatch by facsimile transmission or on the next following weekday (not being a public holiday) after it was posted.

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