Document:

Exhibit 10.1

 

THIS PROMISSORY NOTE (“NOTE”)
HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”).  THIS NOTE HAS
BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE THEREOF
UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE COMPANY THAT SUCH
REGISTRATION IS NOT REQUIRED.  

 

PROMISSORY NOTE

 

	
        Principal Amount:  $400,000.00

         
	
        Dated as of February 21, 2020

        New York, New York

 

Longevity Acquisition
Corporation, a British Virgin Islands company with limited liability (“Maker”), promises to pay to the
order of Whale Management Corporation, a British Virgin Islands company with limited liability, or its registered assigns or successors
in interest or order (“Payee”), the principal sum of Four Hundred Thousand Dollars ($400,000.00) in lawful money
of the United States of America, on the terms and conditions described below.  All payments on this Note shall be made
by check or wire transfer of immediately available funds to such account as Payee may from time to time designate by written notice
in accordance with the provisions of this Note.

 

1. Repayment. The
principal balance of this Note shall be payable on the earliest to occur of (i) the date on which Maker consummates its initial
business combination and (ii) the date that the winding up of Maker is effective (such date, the “Maturity Date”).
The principal balance may be prepaid at any time, at the election of Maker.

 

2. Interest. This
Note shall be non-interest bearing.

 

3. Intentionally
Omitted.

 

4. Application
of Payments. All payments received by Payee pursuant to this Note shall be applied first to the payment in full of any
costs incurred in the collection of any sum due under this Note, including (without limitation) reasonable attorney’s fees,
and then to the reduction of the unpaid principal balance of this Note.

 

5. Events of Default. The
following shall constitute an event of default (“Event of Default”):

 

(a) Failure to Make
Required Payments. Failure by Maker to pay the principal amount due pursuant to this Note within five (5) business days of the
Maturity Date.

 

(b) Voluntary Bankruptcy,
Etc. The commencement by Maker of a voluntary case under any applicable 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 any applicable 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.

 

6. Remedies.

 

(a) Upon the occurrence
of an Event of Default specified in Section 5(a) hereof, Payee may, by written notice to Maker, declare this Note to be due immediately
and payable, whereupon the unpaid principal amount of this Note and all other amounts payable hereunder, 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 5(b) and 5(c) hereof, the unpaid principal balance of this Note and all other amounts
payable hereunder, shall automatically and immediately become due and payable, in all cases without any action on the part of Payee.

 

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 this 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 or personal property 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 agrees that additional makers, endorsers, guarantors,
or sureties may become parties hereto without notice to Maker or affecting Maker’s liability hereunder.

 

9. Notices. All
notices, statements or other documents which are required or contemplated by this Note shall be: (i) in writing and delivered personally
or sent by first class registered or certified mail, overnight courier service or facsimile or electronic transmission to the address
designated in writing, (ii) by facsimile to the number most recently provided to such party or such other address or fax number
as may be designated in writing by such party and (iii) by electronic mail, to the electronic mail address most recently provided
to such party or such other electronic mail address as may be designated in writing by such party.  Any notice or other
communication so transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the business
day following receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business day after delivery
to an overnight courier service or five (5) days after mailing if sent by mail.

 

10. Construction. THIS
NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF NEW YORK, WITHOUT REGARD TO THE CONFLICT OF LAWS PROVISIONS
THEREOF.

 

11. 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.

 

12. Trust Waiver.  Notwithstanding
anything herein to the contrary, Payee hereby waives any claim in or to any distribution of or from the trust account (the “Trust
Account”) established in connection with Maker’s initial public offering (the “IPO”), and hereby
agrees not to seek recourse, reimbursement, payment or satisfaction for any claim against the Trust Account for any reason whatsoever;
provided, however, that upon the consummation of the initial business combination, Maker shall repay the principal balance of this
Note out of the proceeds released to Maker from the Trust Account.

 

13. Amendment;
Waiver.  Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent
of Maker and Payee.

 

14. Assignment.  No
assignment or transfer of this Note or any rights or obligations hereunder may be made by any party hereto (by operation of law
or otherwise) without the prior written consent of the other party hereto and any attempted assignment without the required consent
shall be void; provided, however, that the foregoing shall not apply to an affiliate of Payee who agrees to be bound
to the terms of this Note.

 

     

     

    

 

15.       Conversion.

 

(a) Notwithstanding
anything contained in this Note to the contrary, at Payee’s option, at any time prior to payment in full of the principal
balance of this Note, Payee may elect to convert all or any portion of the unpaid principal balance of this Note into that number
of units, each unit consisting of one ordinary share of the Maker, one warrant exercisable for one half of one ordinary share of
the Maker and one right to receive one-tenth (1/10) of one ordinary share of the Maker upon the consummation of an initial business
combination (the “Conversion Units”), equal to: (x) the portion of the principal amount of this
Note being converted pursuant to this Section 15, divided by (y) $10.00, rounded up to the nearest whole number of units. The Conversion
Units shall be identical to the units issued by the Maker to the Payee in a private placement upon consummation of the Maker’s
initial public offering. The Conversion Units and their underlying securities, and any other equity security of Maker issued or
issuable with respect to the foregoing by way of a stock dividend or stock split or in connection with a combination of shares,
recapitalization, amalgamation, consolidation or reorganization, shall be entitled to the registration rights set forth in Section
16 hereof.

 

(b) Upon any complete
or partial conversion of the principal amount of this Note, (i) such principal amount shall be so converted and such converted
portion of this Note shall become fully paid and satisfied, (ii) Payee shall surrender and deliver this Note, duly endorsed, to
Maker or such other address which Maker shall designate against delivery of the Conversion Units, (iii) Maker shall promptly deliver
a new duly executed Note to Payee in the principal amount that remains outstanding, if any, after any such conversion and (iv)
in exchange for all or any portion of the surrendered Note, Maker shall, at the direction of Payee, deliver to Payee (or its members
or their respective affiliates) (Payee or such other persons, the “Holders”) the Conversion Units, which shall
bear such legends as are required, in the opinion of counsel to Maker or by any other agreement between Maker and Payee and applicable
state and federal securities laws.

 

(c) The Holders shall
pay any and all issue and other taxes that may be payable with respect to any issue or delivery of the Conversion Units upon conversion
of this Note pursuant hereto; provided, however, that the Holders shall not be obligated to pay any transfer taxes resulting from
any transfer requested by the Holders in connection with any such conversion.

 

(d) The Conversion
Units shall not be issued upon conversion of this Note unless such issuance and such conversion comply with all applicable provisions
of law.

 

16.       Registration
Rights.

 

(a) Reference is made
to that certain Registration Rights Agreement between Maker and the parties thereto, dated as of August 28, 2018 (the “Registration
Rights Agreement”). All capitalized terms used in this Section 16 shall have the same meanings ascribed to them in the
Registration Rights Agreement.

 

(b) The Holders shall
be entitled to one Demand Registration, which shall be subject to the same provisions as set forth in Section 2.1 of the Registration
Rights Agreement.

 

(c) The Holders shall
also be entitled to include the Conversion Units and their underlying securities in Piggyback Registrations, which shall be subject
to the same provisions as set forth in Section 2.2 of the Registration Rights Agreement; provided, however, that in the event that
an underwriter advises Maker that the Maximum Number of Securities has been exceeded with respect to a Piggyback Registration,
the Holders shall not have any priority for inclusion in such Piggyback Registration.

 

(d) Except as set forth
above, the Holders and Maker, as applicable, shall have all of the same rights, duties and obligations set forth in the Registration
Rights Agreement.

 

 

[Signature Page Follows]

 

     

     

    

 

 

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

 

	 	LONGEVITY ACQUISITION CORPORATION
	 	 	 
	 	By:	/s/ Matthew Chen
	 	 	Name: Matthew Chen
	 	 	Title: Chairman and Chief Executive OfficerEX-4.1

 Exhibit 4.1 

DESCRIPTION OF REGISTRANT’S SECURITIES 
 REGISTERED PURSUANT TO SECTION 12 OF THE 
 SECURITIES EXCHANGE ACT OF 1934

 The following description of our common stock is a summary and does not purport to be complete. It is subject to
and qualified in its entirety by reference to our Second Amended and Restated Certificate of Incorporation, as amended (our “Certificate”), and our Amended and Restated Bylaws (our “Bylaws”), each of which has been filed with the
Securities and Exchange Commission as an exhibit to this Annual Report on Form 10-K or incorporated by reference therein. The summary below is also qualified by provisions of applicable law. 

General 
 Under our
Certificate, we have authority to issue up to 400,000,000 shares of common stock, par value $0.01 per share. Our common stock is registered under Section 12 of the Securities Exchange Act of 1934, as amended, and is listed on the New York Stock
Exchange under the symbol “WAT.” 
 The rights, preferences and privileges of holders of common stock are subject to
the rights of the holders of shares of any series of preferred stock that we may designate and issue in the future. 
 Voting Rights

 Holders of our common stock are entitled to one vote for each share held on all matters submitted to a vote of
stockholders and do not have cumulative voting rights. Our Bylaws provide that a nominee for director will be elected by the affirmative vote of a majority of the votes cast with respect to such nominee; however, if the number of nominees exceeds
the number of directors to be elected, the directors will be elected by affirmative vote of a plurality of the votes cast. 
 Dividend Rights

 Subject to the rights of holders of any outstanding shares of preferred stock, holders of our common stock are entitled to
receive dividends, if any, as may be declared from time to time by our board of directors (the “Board of Directors”) in its discretion out of funds legally available for the payment of dividends. 

Liquidation Rights 

Subject to the rights of holders of any outstanding shares of preferred stock, holders of our common stock will share ratably in all
assets legally available for distribution to out stockholders in the event of dissolution. 
 Anti-takeover Effects of the Delaware General
Corporation Law and Our Certificate of Incorporation and Bylaws 
 Our Certificate and our Bylaws contain certain provisions
that may discourage, delay, or prevent a change in our management or control over us. We expect that these provisions, which are summarized below, will discourage coercive takeover practices or inadequate takeover bids. These provisions are also
designed to encourage persons seeking to acquire control of us to first negotiate with the Board of Directors, which we believe may result in an improvement of the terms of any such acquisition in favor of our stockholders. However, they may also
discourage acquisitions that some stockholders may favor. 
 No Stockholder Action by Written Consent 

Our Certificate provides that any action required or permitted to be taken by our stockholders must be effected at a duly called annual or
special meeting of stockholders and may not be effected by written consent in lieu of a meeting. 

 Special Meeting of Stockholders and Advance Notice Requirements for Stockholder
Proposals 
 Our Certificate and Bylaws provide that a special meeting of our stockholders may only be called by the
Board of Directors, the Chairman of the Board of Directors or our President and Chief Executive Officer, or by the Chairman of the Board of Directors, our President and Chief Executive Officer or our Secretary at the request in writing of
stockholders holding at least fifty percent (50%) of the number of shares of stock outstanding and entitled to vote at such meeting. 
 Our Bylaws set forth advance notice procedures for stockholder proposals to be brought before an annual meeting of the stockholders, including the nomination of directors, or any special meeting of the
stockholders called for the purpose of electing directors. Stockholders at an annual meeting may only consider proposals (a) specified in the notice of meeting (or any supplement thereto) given by or at the direction of the Board of Directors
(or any duly authorized committee thereof), (b) otherwise properly brought before the annual meeting by or at the direction of the Board of Directors (or any duly authorized committee thereof) or (c) otherwise properly brought before the
annual meeting by any stockholder of the Corporation (i) who is a stockholder of record on the date of the giving of the notice required by our Bylaws and on the record date for the determination or stockholders entitled to vote at such annual
meeting and (ii) who complies with the notice procedures set forth in our Bylaws. To be timely, a stockholder’s notice must be received at our principal executive offices not less than 60 not more than 90 days prior to the date of the
annual meeting; provided, however, that in the event that less than 70 days notice or prior public disclosure of the date of the annual meeting is given to stockholders, notice by the stockholder in order to be timely must be received no later than
the close of business on the tenth day following the day on which such notice of the date of the annual meeting was mailed or such public disclosure of the annual meeting was made, whichever occurs first. 

Nominations of persons for election to our Board of Directors may be made at any annual meeting of stockholders, or at any special
meeting of stockholders called for the purpose of electing directors, (a) by or at the direction of the Board of Directors (or any duly authorized committee thereof) or (b) by any stockholder of the Corporation (i) who is a
stockholder of record on the date of the giving of the notice required by our Bylaws and on the record date for the determination of stockholders entitled to vote at such meeting and (ii) who complies with the notice procedures set forth in our
Bylaws. To be timely, a stockholder’s notice must be received at our principal executive offices (a) in the case of an annual meeting, not less than 60 not more than 90 days prior to the date of the annual meeting; provided, however, that
in the event that less than 70 days notice or prior public disclosure of the date of the annual meeting is given to stockholders, notice by the stockholder in order to be timely must be received no later than the close of business on the tenth day
following the day on which such notice of the date of the annual meeting was mailed or such public disclosure of the annual meeting was made, whichever occurs first, and (b) in the case of a special meeting of stockholders called for the
purpose of electing directors, not later than the close of business on the tenth day following the day on which notice of the date of the special meeting was mailed or public disclosure of the date of the special meeting was made, whichever occurs
first. 
 These provisions could have the effect of delaying until the next stockholder meeting any stockholder actions that are
favored by the holders of a majority of our outstanding voting securities.
 Requirements for Removal and Interim Election
of Directors 
 The stockholders may, at any special meeting the notice of which states that it is called for that
purpose, remove, with or without cause, any director and fill the vacancy, provided that if any director was elected by the holders of any class of stock voting separately as a class under the provisions of the Certificate, such director may be
removed and the vacancy filled only by the holders of that class of stock voting separately as a class. Vacancies caused by any such removal and not filled by the stockholders at the meeting at which such removal was made, or any vacancy caused by
the death or resignation of any director or for any other reason, and any newly created directorship resulting from any increase in the authorized number of directors, may be filled by the affirmative vote of a majority of the directors then in
office, even if less than a quorum, and any director so elected to fill any such vacancy or newly created directorship will hold office until his successor is elected and qualified or until his earlier death, resignation or removal. 

In the case of the resignation of a director, a majority of the directors then in office, including those who have so resigned, will have
power to fill such vacancy and the vote will take effect when such resignation becomes 

 
effective, and each director so chosen will hold office until his successor is elected and qualified or until his earlier death, resignation or removal. 

Amendment to Certificate of Incorporation and Bylaws 

Our Bylaws may be amended or repealed, or new bylaws may be adopted, by our Board of Directors at any regular or special meeting by the
affirmative vote of a majority of all of the members of the Board of Directors, provided, in the case of any special meeting at which all of the members of the Board of Directors are not present, that the notice of such meeting shall have stated
that the amendment of the Bylaws was one of the purposes of the meeting. Our Bylaws may be altered, amended or repealed and other bylaws may be adopted by the holders of a majority of the total outstanding stock of the Corporation entitled to vote
at any annual meeting or special meeting, provided, in the case of any special meeting, that notice of such proposed alteration, amendment, repeal or adoption is included in the notice of the meeting. 

Any provision of our Certificate may be amended or repealed from time to time and at any time in the manner prescribed by the laws of the
state of Delaware. The Delaware General Corporation Law (the “DGCL”) provides generally that the affirmative vote of a majority of the outstanding stock entitled to vote on amendments to a corporation’s certificate of incorporation or
bylaws is required to approve such amendment. 
 Exclusive Jurisdiction of Certain Actions 

Unless we consent in writing to the selection of an alternative forum, our Bylaws require that the Court of Chancery of the State of
Delaware, to the fullest extent permitted by law, be the sole and exclusive forum for (a) any derivative action or proceeding brought on our behalf, (b) any action asserting a claim of breach of fiduciary duty owed by, or other wrongdoing
by, any of our directors, officers, employees or agents to us or to our stockholders, creditors or other constituents, (c) any action asserting a claim arising pursuant to any provision of the DGCL or our Certificate or Bylaws, (d) any
action to interpret, apply, enforce or determine the validity of our Certificate or Bylaws or (e) any action asserting a claim governed by the internal affairs doctrine. Although we believe this provision benefits the company by providing
increased consistency in the application of Delaware law in the types of lawsuits to which it applies, the provision may have the effect of discouraging lawsuits against our directors, officers, employees or agents. 

Authorized but Unissued Shares 
 The authorized but unissued shares of common stock and preferred stock are available for future issuance without stockholder approval, subject to any limitations imposed by the listing standards of the
New York Stock Exchange. Our Board of Directors may issue shares of preferred stock in one or more series, to establish the number of shares to be included in each such series, and to fix the designations, powers, preferences, and rights of the
share of each such series, and any qualifications limitations, or restrictions thereof. These additional shares may be used for a variety of corporate finance transactions, acquisitions and employee benefit plans. The existence of authorized but
unissued common stock and preferred stock could make more difficult, or discourage an attempt to obtain control of us by means of a proxy contest, tender offer, merger, or otherwise.

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