Document:

Exhibit 10.11

 

 

 

October
28, 2019

 

Shareholder
Representative Services LLC

950
17th Street, Suite 1400

Denver,
CO 80202

Attn:
Managing Director

Fax:
(303) 623-0294

Email:
deals@srsacquiom.com

 

Chardan
Healthcare Acquisition Corp.

17
State Street, 21st Floor

New
York, NY 10004

Attn:
Jonas Grossman

Fax:

e-mail:grossmanj@chardanspac.com

 

Loeb
& Loeb LLP

345 Park Ave

New York, NY 10154

Attention:
Giovanni Caruso

Fax:
(212) 937-3943

e-mail:
gcaruso@loeb.com

 

Meitar
Liquornik Geva Leshem Tal

16
Abba Hillel Road

Ramat
Gan, Israel

Attention:
Mike Rimon, Adv.

Email:
mrimon@meitar.com

To
whom it may concern:

 

Reference
is made to the Merger Agreement (as amended on October 11, 2019, the “Merger Agreement”) dated as of July 16, 2019,
by and among BiomX Ltd., an Israeli company, Shareholder Representative Services LLC, as the Shareholders’ Representative,
Chardan Healthcare Acquisition Corp., a Delaware corporation and CHAC Merger Sub Ltd., an Israeli company. Any terms not defined
herein shall have the same meaning as such terms have in Merger Agreement.

 

Section
9.8(b)(ii) of the Merger Agreement requires that “the immediately available funds contained in the New Investment Escrow
Account available for release to Purchaser immediately following the Closing that have not been deposited into the New Investment
Escrow Account pursuant to the Company Securityholder Purchase Agreements or the Third Party Purchase Agreements to equal or exceed
Three Million Dollars ($3,000,000),” and it is a condition to the Closing pursuant to sections 10.2(h)(ii) and 10.3(h)(ii)
of the Merger Agreement that no less than $3,000,000 be invested in the New Investment Escrow Account pursuant to one or more
purchase agreements that are not Company Securityholder Purchase Agreements or Third Party Purchase Agreements. By signing below,
the parties hereto hereby agree to waive the requirement in Section 9.8(b)(ii), and the closing conditions in Sections 10.2(h)(ii)
and 10.3(h)(ii), of the Merger Agreement, provided that the immediately available funds contained in the New Investment Escrow
Account available for release to Purchaser immediately following the Closing that have not been deposited into the New Investment
Escrow Account pursuant to the Company Securityholder Purchase Agreements or the Third Party Purchase Agreements equals or exceeds
Two Million Seven Hundred Ninety Eight Thousand and Two Hundred Fifty Dollars ($2,798,250).

 

Section
10.3(f) of the Merger Agreement provides that it is a condition to the Closing that the “aggregate amount of Indebtedness,
expenses and other liabilities of Purchaser that remain unpaid as of immediately prior to the Closing is less than $1,000,000.”
By signing below, the Company hereby agrees to waive the closing condition in Section 10.3(f) of the Merger Agreement,

 

For
the avoidance of doubt, this waiver does not alter the original terms of the Merger Agreement, other than the waivers described
above.

 

     

     

    

 

	Sincerely,	 
	 	 	 
	BIOMX LTD. 	 
	 	 
	By:	/s/ Jonathan Solomon	 
	Name:	Jonathan Solomon	 
	Title:	CEO	 
	 	 
	Acknowledged and Agreed:	 
	 	 
	CHARDAN HEALTHCARE ACQUISITION CORP. 	 
	 	 
	By: 	/s/ Jonas Grossman 	 
	Name:	Jonas Grossman	 
	Title:	Chief Executive Officer	 
	 	 
	CHAC MERGER SUB LTD. 	 
	 	 
	By: 	/s/ Jonas Grossman	 
	Name:	Jonas Grossman	 
	Title:	Director	 
	 	 
	SHAREHOLDER REPRESENTATIVE SERVICES LLC, 
	solely in its capacity as the Shareholders’ Representative 
	 	 
	By: 	/s/ Sam Riffe	 
	Name:	Sam Riffe	 
	Title:	Managing DirectorExhibit
10.12

 

AGREEMENT

 

This
AGREEMENT (this “Agreement”) is made as of this 28th day of October, 2019 by and between
Cornix LLC (“Buyer”) and Chardan Healthcare Acquisition Corp. (“CHAC”).

 

WHEREAS,
CHAC was organized for the purpose of acquiring, through a merger, capital stock exchange, asset acquisition or other similar
business combination, an operating business; and

 

WHEREAS,
CHAC has entered into that certain Merger Agreement, dated as of July 16, 2019 by and among CHAC, BiomX Ltd., CHAC Merger Sub
Ltd., and Shareholder Representative Services LLC.

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto
hereby agree as follows:

 

ARTICLE
I

Purchase
and sale

 

Section
1.01 Buyer hereby agrees with CHAC to purchase $300,000 of shares (the “Shares”) of CHAC’s common stock in the
public markets or in privately negotiated transactions no later than the-three month anniversary after this Agreement is disclosed
publicly by CHAC. Buyer will furnish to CHAC trade confirmations (or such other documentation as is reasonably satisfactory to
CHAC) to evidence the purchase of the Shares.

 

Section
1.02 In respect of the Shares, Buyer agrees that it will not (1) offer for sale, sell, pledge, grant any option to purchase or
otherwise dispose of (collectively, a “Disposition”) any Shares for a period commencing on the date hereof and ending
on the termination date of the Agreement, inclusive (the “Lock-Up Period”), (2) exercise or seek to exercise or effectuate
in any manner any rights of any nature that Buyer has or may have hereafter to require the Company to register under the Act the
undersigned’s sale, transfer or other disposition of any of the Shares, or (3) engage, directly or indirectly (including
through any entity deemed to be an “affiliate” of Buyer under the Securities Act of 1933, as amended, or the Securities
Exchange Act of 1934, as amended (the “Exchange Act”)) in any hedging, collar (whether or not for any consideration)
or other transaction that is designed to or reasonably expected to lead or result in a Disposition of Shares during the Lock-Up
Period, even if such Shares would be disposed of by someone other than such holder, and such prohibited hedging or other transactions
would include any short sale or any purchase, sale or grant of any right (including any put or call option or reversal or cancellation
thereof) with respect to any Shares or with respect to any security (other than a broad-based market basket or index) that includes,
relates to or derives any significant part of its value from Shares.

 

     

     

    

 

Section
1.03 The execution and delivery of this Agreement and performance in accordance with the terms of this Agreement have been duly
authorized on Buyer’s behalf by all necessary action, Buyer’s entry into this Agreement and the performance of its
obligations hereunder will not in any way be limited by any provision of Buyer’s formation and operating agreements or by
any other legal, contractual, regulatory or other restrictions to which such entry and performance may be subject. Buyer has made
all notifications and obtained all consents, approvals and authorizations required by its formation and operating agreements,
the law or any other applicable regulations for or in connection with this Agreement. The purchase of the Shares does not conflict
with, result in a breach or violation of, or constitute a default under: (A) any agreement or instrument to which Buyer is a party
or by which Buyer or any of its properties or assets is bound; (B) any statute, rule or regulation applicable to, or any order
of any court or governmental agency with jurisdiction over Buyer or its assets or properties; and (C) any policy of Buyer or other
internal rules or regulations applicable to Buyer, including, but not limited to, Counterparty’s window, blackout or other
similar policy. Buyer is not aware of any material non-public information (within the meaning of Rule 10b5-1 under the Exchange
Act) concerning CHAC and the entry into and performance by it of its obligations under this Agreement does not and will not constitute
a violation by it or any of its affiliates of applicable law or regulation prohibiting “insider trading.” Neither
Buyer nor any person acting on Buyer’s behalf has engaged in any behavior which is designed to cause, has caused, or might
reasonably be expected to cause, manipulation of the price of any security of CHAC and it is not entering into this Agreement
to create actual or apparent trading activity in any Shares (or any security convertible into or exchangeable for any shares of
CHAC’s capital stock) or to raise or depress or otherwise manipulate the price of any shares of common stock of CHAC (or
any security convertible into or exchangeable for any shares of common stock of CHAC) or otherwise in violation of the Exchange
Act.

 

ARTICLE
II

Miscellaneous

 

Section
2.01 Termination. This Agreement shall terminate on the earlier of (i) the six month anniversary of the last purchase date
of Shares, and (ii) the date that the per share closing price of CHAC’s common stock has been in excess $15.00 per share
for three consecutive trading days.

 

Section
2.02 Counterparts; Facsimile. This Agreement may be executed in any number of counterparts, each of which when so executed
shall be deemed to be an original and all of which taken together shall constitute one and the same instrument. This Agreement
or any counterpart may be executed via facsimile transmission, and any such executed facsimile copy shall be treated as an original.

 

Section
2.03 Governing Law. This Agreement shall for all purposes be deemed to be made under and shall be construed in
accordance with the laws of New York. Each of the parties hereby agrees that any action, proceeding or claim against it
arising out of or relating in any way to this Agreement shall, to the fullest extent applicable, be brought and enforced
first in the Southern District of New York, then to such other court in the State of New York as appropriate and irrevocably
submits to such jurisdiction, which jurisdiction shall be exclusive. Each of the parties hereby waives any objection to such
exclusive jurisdiction and that such courts represent an inconvenient forum.

 

    2

     

    

  

Section
2.04 Remedies Cumulative. Each of the parties hereto acknowledges and agrees that, in the event of any breach of any covenant
or agreement contained in this Agreement by the other party, money damages may be inadequate with respect to any such breach and
the non-breaching party may have no adequate remedy at law. It is accordingly agreed that each of the parties hereto shall be
entitled, in addition to any other remedy to which they may be entitled at law or in equity, to seek injunctive relief and/or
to compel specific performance to prevent breaches by the other party hereto of any covenant or agreement of such other party
contained in this Agreement.

 

Section
2.05 Severability. If any term, provision or covenant of this Agreement is held by a court of competent jurisdiction or
other authority to be invalid, void or unenforceable, the remainder of the terms, provisions and covenants of this Agreement shall
remain in full force and effect and shall in no way be affected, impaired or invalidated

 

Section
2.06 Binding Effect; Assignment. This Agreement shall be binding upon and inure to the benefit of the parties hereto and
their respective legal representatives, successors and permitted assigns.

 

Section
2.07 Headings. The descriptive headings of the Sections hereof are inserted for convenience only and do not constitute
a part of this Agreement.

 

Section
2.08 Entire Agreement; Changes in Writing.This Agreement constitutes the entire agreement among the parties hereto
and supersedes and cancels any prior agreements, representations and warranties, whether oral or written, among the parties hereto
relating to the transaction contemplated hereby. Neither this Agreement nor any provision hereof may be changed or amended orally,
but only by an agreement in writing signed by the other party hereto.

 

    3

     

    

 

IN
WITNESS WHEREOF, the undersigned have executed this Agreement as of the date set forth on the first page of this Agreement.

 

	 	CORNIX LLC
	 	 	 
	 	By:	/s/
    Steven Urbach
	 	Name:	Steven
    Urbach
	 	Title:	President
	 	 	 
	 	CHARDAN HEALTHCARE ACQUISITION CORP.
	 	 	 
	 	By:	/s/
    Jonas Grossman
	 	Name:  	Jonas
    Grossman
	 	Title:	Member

 

 

4

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