Document:

Exhibit 10.12

 

FIRST AMENDMENT TO

2020 NOTE PURCHASE AGREEMENT

 

This First Amendment (this
 “Amendment”) to the 2020 Note Purchase Agreement is dated as of March 16, 2021 and amends that certain 2020
Note Purchase Agreement (the “Original Agreement”) dated December 16, 2020 by and among Samsara Vision, Inc.,
a Delaware corporation (the “Company”), and the Investors listed on Exhibit A thereto (herein individually
an “Investor” and collectively, the “Investors”). Capitalized terms used herein but
not otherwise defined shall have the same meanings assigned to them in the Original Agreement, except where the context otherwise requires.

 

RECITALS

 

A.             
The Company and the undersigned Investors are parties to the Original Agreement, and desire to amend the Original Agreement as
set forth herein.

 

B.             
The requisite Investors have agreed to amend the Original Agreement as set forth herein.

 

AGREEMENT

 

NOW, THEREFORE, in consideration
of the foregoing and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties
hereby agree as follows:

 

1.           
Size of Offering. Section 2.2 of the Original Agreement is hereby amended to read in its entirety as follows:

 

“Subsequent
Closing. Including the amount received by the Company from the Initial Closing, the Company may sell additional Notes for up to
an aggregate principal amount of $13,000,000 at any time on or prior to 5PM PDT of December 31, 2021 (each such sale, a “Subsequent
Closing”) subject to the terms and conditions of this Agreement. Any participant in a Subsequent Closing who has not already
signed this Agreement will execute a counterpart of this Agreement and agree to be bound by the terms hereby and become a party hereto
as an “Investor” hereunder. After each Subsequent Closing, Exhibit A will be updated by the Company without any further
action on the part of the parties hereto to reflect the addition of any subsequent Investors and additional amounts invested pursuant
to this Agreement. The Initial Closing and any Subsequent Closing are each referred to in this Agreement as a “Closing,”
and the date of a particular Closing is referred to as the “Closing Date.””

 

2.           
Confirmation of Original Agreement and Notes. Except as amended hereby, all of the terms of the Original Agreement
and the Notes shall remain and continue in full force and effect and are hereby confirmed in all respects, and all references to the Original
Agreement shall be deemed to refer to the Original Agreement as amended hereby.

 

    

     

    

 

3.              
Governing Law. This Amendment will be governed by and construed under the internal laws of the State of Delaware
as applied to agreements among Delaware residents entered into and to be performed entirely within Delaware, without reference to principles
of conflict of laws or choice of laws.

 

4.              
Counterparts. This Amendment may be executed in two or more counterparts, each of which shall be deemed an original,
and all of which together shall constitute one and the same instrument. This Amendment shall become binding when one or more counterparts,
individually or taken together, shall bear the signatures of the requisite parties to amendment the Original Agreement.

 

5.              
Entire Agreement. This Amendment, together with the Original Agreement and all exhibits thereto (including the Notes),
constitute the entire understanding and agreement of the parties with respect to the transactions contemplated herein and supersede all
prior and contemporaneous understandings and agreements, whether written or oral, with respect to such transactions.

 

[Remainder of Page Intentionally Left Blank]

    

     

    

 

IN WITNESS WHEREOF, the
parties have executed this First Amendment to 2020 Note Purchase Agreement as of the date first written above.

 

	 	COMPANY:
	 	 	 
	 	SAMSARA
    VISION, INC.
	 	a
    Delaware corporation
	 	 	 
	 	By:	/s/
    Tom Ruggia
	 	Name:	Tom
    Ruggia
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	Address:	27
    Route 202, Suites 8 & 9
	 	 	PO
    Box 705
	 	 	Far
    Hills, NJ 07931
	 	Email:	truggia@samsaravision.com

 

    

     

    

 

IN WITNESS WHEREOF,
the parties have executed this First Amendment to 2020 Note Purchase Agreement as of the date first written above.

 

	INVESTOR:	 
	 	 
	VOT HOLDINGS LLC	 
	 	 	 
	By:	/s/ Steve DeNelsky	 
	Name:	Steve DeNelsky	 
	Title:	Managing Member	 
	 	 	 
	Address:	 
	 	 
	Email:Exhibit 10.13

 

SECOND AMENDMENT TO

2020 NOTE PURCHASE AGREEMENT

 

This Second Amendment (this
 “Amendment”) to the 2020 Note Purchase Agreement is dated as of December 14, 2021 and amends that certain 2020
Note Purchase Agreement dated December 16, 2020, as amended by the First Amendment thereto dated March 16, 2021 (as amended, the “Existing
Agreement”), by and among Samsara Vision, Inc., a Delaware corporation (the “Company”), and the
Investors listed on Exhibit A thereto (herein individually an “Investor” and collectively, the “Investors”).
Capitalized terms used herein but not otherwise defined shall have the same meanings assigned to them in the Existing Agreement, except
where the context otherwise requires.

 

RECITALS

 

A.               
The Company and the undersigned Investors are parties to the Existing Agreement, and desire to amend the Existing Agreement and
the Notes as set forth herein.

 

B.                
The requisite Investors have agreed to amend the Existing Agreement and the Notes as set forth herein.

 

AGREEMENT

 

NOW, THEREFORE, in consideration
of the foregoing and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties
hereby agree as follows:

 

1.                 
Amendment to Existing Agreement. Section 3.1 of the Existing Agreement is hereby amended to read in its entirety
as follows:

 

“3.1 Maturity
Date of the Notes. Each Note issued pursuant to this Agreement will be due and payable by the Company upon demand by the holder
thereof on or after January 1, 2023 (the “Maturity Date”).”

 

2.                 
Amendment to Notes. Section 1 of each Note is hereby amended to read in its entirety as follows:

 

“1. Maturity.
Unless converted or as otherwise provided under this Note, the Principal Amount and all accrued and unpaid Interest (as defined below)
shall be due and payable by the Company to the Noteholder on demand on or after January 1, 2023 (the “Maturity Date”).”

 

3.                 
Confirmation of Existing Agreement and Notes. Except as amended hereby, all of the terms of the Existing Agreement
and the Notes shall remain and continue in full force and effect and are hereby confirmed in all respects, and all references to the Existing
Agreement shall be deemed to refer to the Existing Agreement as amended hereby.

 

    

     

    

 

4.                 
Governing Law. This Amendment will be governed by and construed under the internal laws of the State of Delaware
as applied to agreements among Delaware residents entered into and to be performed entirely within Delaware, without reference to principles
of conflict of laws or choice of laws.

 

5.                 
Counterparts. This Amendment may be executed in two or more counterparts, each of which shall be deemed an original,
and all of which together shall constitute one and the same instrument. This Amendment shall become binding when one or more counterparts,
individually or taken together, shall bear the signatures of the requisite parties to amendment the Existing Agreement.

 

6.                 
Entire Agreement. This Amendment, together with the Existing Agreement and all exhibits thereto (including the Notes),
constitute the entire understanding and agreement of the parties with respect to the transactions contemplated herein and supersede all
prior and contemporaneous understandings and agreements, whether written or oral, with respect to such transactions.

 

[Remainder of Page Intentionally Left Blank]

 

    

     

    

 

IN WITNESS WHEREOF, the parties have executed this
Second Amendment to 2020 Note Purchase Agreement as of the date first written above.

 

	 	COMPANY:
	 	 	 
	 	SAMSARA
    VISION, INC.
	 	a
    Delaware corporation
	 	 	 
	 	By:	/s/
    Tom Ruggia
	 	Name:	Tom
    Ruggia
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	Address:	27
    Route 202, Suites 8 & 9
	 	 	PO
    Box 705
	 	 	Far
    Hills, NJ 07931
	 	Email:	truggia@samsaravision.com

 

    

     

    

 

IN WITNESS WHEREOF, the parties have executed this
Second Amendment to 2020 Note Purchase Agreement as of the date first written above.

 

	INVESTOR:	 
	 	 
	VOT HOLDINGS LLC	 
	 	 	 
	By:	/s/ Steve Denelsky	 
	Name:	Steve Denelsky	 
	Title:	Managing Member	 
	 	 	 
	Address:	777 Third Avenue, 19th Floor	 
	 	New York, NY 10017	 
	Email:	steve@lsafunding.comEX-10.1

   

  Exhibit 10.1

   

  Volkswagen Group of America, Inc.
Volkswagen Group of America Investments, LLC

  	 

  December 17, 2021

   

  QuantumScape Battery, Inc.
1730 Technology Drive

  San Jose, CA 95110

  Attn: Jagdeep Singh, CEO

   

  Dear Mr. Singh:

   

  Reference is made (i) to the Amended and Restated Joint Venture Agreement, dated May 14, 2020, by and among Volkswagen Group of America, Inc., a New Jersey corporation (“VWGoA”), Volkswagen Group of America Investments, LLC, a Delaware limited liability company, an affiliate of VWGoA and designated member in the JV Entity (“VW Member”), QuantumScape Battery, Inc. (f/k/a QuantumScape Corporation), a Delaware corporation (“QS”), and QSV Operations LLC, a Delaware limited liability company (the “JV Entity”), as amended by that certain First Amendment to Amended and Restated Joint Venture Agreement, dated September 21, 2020, by and among the same parties (the Amended and Restated Joint Venture Agreement as amended by the First Amendment to Amended and Restated Joint Venture Agreement, the “JV Agreement”), and (ii) that certain letter agreement by and among VWGoA, VWGoAI, QS and the JV Entity, dated May 13 2021 (the “Original Letter Agreement”).  VWGoA, VW Member, QS and the JV Entity are collectively referred to as the “Parties,” and any capitalized terms used herein without definition have the meanings set forth in the JV Agreement.

   

  This letter confirms the agreement amongst the Parties of the following, notwithstanding anything in the JV Agreement to the contrary:

   

  (a)Subject to section (c) below, the Parties currently contemplate locating the Phase 1 Pilot Line in either Salzgitter, Germany or some other location in or around Germany; 

   

  (b)The Parties intend for the Phase 1 Pilot Line (currently with a planned 1 GWh of capacity) to be scalable to the Phase 2 Gigafactory (currently with a planned 20 GWh of capacity) at the same location, provided that the final decision for or against any such scaling remains reserved; 

   

  (c)The final determination of the location of the Phase 1 Pilot Line shall be made by VWGoA in its sole discretion no later than September 30, 2022 based on an analysis by VWGoA of the operational costs, government incentives and other relevant considerations, and Section 3.1.1 of the JV Agreement is hereby amended accordingly; 

   

  (d)To the extent anything in this letter conflicts with any provision in the JV Agreement, this letter shall prevail, and except as may be amended hereby, the JV Agreement shall remain in full force and effect; 

   

  (e)The Original Letter Agreement shall be amended and restated in its entirety by this letter agreement, effective immediately; and

   

   

  

  
Execution Version

  (f)Sections 9.6, 9.8 – 9.11, and 9.13 – 9.18 of the JV Agreement shall apply to this letter agreement mutatis mutandis.

   

  Please confirm your acceptance and agreement of the matters set forth in this letter by executing in the space provided on the signature pages hereto. 

   

  Thank you.

   

  [Signature Page Follows]

   

   

   

  Page 2

   

  

  
Execution Version

   

  Sincerely,

 

  Volkswagen Group of America, Inc. 

    

    

  By: /s/ Kevin Duke                                                 
Name: Kevin Duke 
Title: Secretary

    

   

  Volkswagen Group of America

  INVESTMENTS, LLC 

    

    

  By: /s/ Kevin Duke                                                 
Name: Kevin Duke
Title: VP & Secretary

    

  Accepted and Agreed:

    

  QUANTUMSCAPE BATTERY, INC.

  
 

  By: /s/ Michael McCarthy                                 
Name: Michael McCarthy
Title: Chief Legal Officer

    

   

  QSV OPERATIONS LLC

    

    

  By: /s/ Michael McCarthy                                 
Name: Michael McCarthy
Title: Manager
Title:

  Page 3

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