Document:

Exhibit 4.2

 

UCOMMUNE INTERNATIONAL LTD

Floor 8, Tower D

No.2 Guang Hua Road

Chaoyang District, Beijing

People’s Republic of China, 100026

 

October 25, 2022

 

JAK Opportunities LLC

17 State Street, 2100

New York, New York 10004

 

Re: Warrants

 

Dear Sirs and Madams:

 

Reference is made to the Series A Warrant, Series
B Warrant and Series C Warrant, each dated January 26, 2022 and amended on March 1, 2022 and August 29, 2022 (collectively, the “Warrants”),
between Ucommune International Ltd and JAK Opportunities LLC (the “Holder”), as the holder named therein. Capitalized
terms not otherwise defined herein shall have the meanings ascribed to such terms in the Warrants.

 

Effective on November 4, 2022, unless Nasdaq objects
to any of the amendments below prior to such date, each of the Warrants shall be amended and restated as follows:

 

1. Section 2(b) of each of the Warrants shall be
amended and restated as follows:

 

“b) Exercise Price. The exercise
price per Ordinary Share under this Warrant shall be $2.30,4 subject to adjustment hereunder (the “Exercise Price”).”

 

2. Section 5(o) of each of the Warrants shall be
amended and restated as follows:

 

“o)  Floor for Exercise Price
of the Warrant. Notwithstanding anything to the contrary in the Transaction Documents, the Exercise Price of the Warrant shall in
no event be lower than $2.30 (the “Floor Price”). The Floor Price shall be proportionately decreased upon a stock split
or share subdivision of Ordinary Shares, and shall be proportionately increased in the case of a reverse stock split or share combination
of Ordinary Shares. The Company agrees that while the Warrant remains outstanding, it will not issue Ordinary Shares or Ordinary Share
Equivalents at a price per share or with a conversion or exercise price per share, as applicable, that is below the Floor Price without
the prior written consent of the Holder.”

 

For the avoidance of doubt,
the amended Exercise Price in Section 2(b) above and the amended Floor Price in Section 5(o) above have already been adjusted to reflect
the share consolidation on April 22, 2022, in which every 20 ordinary shares with par value of US$0.0001 were consolidated into one ordinary
share with par value of US$0.002.

 

Each of the Warrants and this
letter agreement shall be read together and shall have the same effect as if each such Warrant and this letter agreement were contained
in one document. Except as expressly modified by this letter agreement, the terms and obligations of the Warrants and the Transaction
Documents remain unchanged and the Warrants and Transaction Documents shall continue in full force and effect.

 

This letter agreement shall
be governed by, construed and enforced in accordance with, the laws of the State of New York, without regard to the conflict of laws
principles thereof.

 

 

 

 

	4	Upon each exercise of the Series B Warrants, the holder thereof
shall be entitled to deduct 10% of the aggregate exercise price thereof in connection with each such exercise as an original issuance
discount.

 

     

     

    

 

If you are in agreement with
the foregoing, please have this letter agreement executed by your authorized representative and return a copy to the undersigned.

 

	 	Very Truly Yours,
	 	 
	 	UCOMMUNE INTERNATIONAL LTD
	 	 	 
	 	By: 	/s/ Siyuan Wang
	 	Name:	Siyuan Wang
	 	Title:	CFO

 

	Confirmed and Agreed to:	 
	 	 
	JAK OPPORTUNITIES LLC	 
	 	 	 
	By: 	/s/ Antonio Ruiz-Gimenez	 
	Name: 	Antonio Ruiz-Gimenez	 
	Title:	Managing Member	 

 

 

[Signature Page to Warrant Amendment]Exhibit 10.1

 

UCOMMUNE INTERNATIONAL LTD

Floor 8, Tower D

No.2 Guang Hua Road

Chaoyang District, Beijing

People’s Republic of China, 100026

 

October 25, 2022

 

JAK Opportunities LLC

17 State Street, 2100

New York, New York 10004

 

Re: Securities Purchase Agreement

 

Dear Sirs and Madams:

 

Reference is made to the Securities Purchase Agreement,
dated January 26, 2022 and amended on March 1, 2022 and August 29, 2022 (the “Securities Purchase Agreement”),
between Ucommune International Ltd and JAK Opportunities LLC (the “Purchaser”), as the purchaser named therein.
Capitalized terms not otherwise defined herein shall have the meanings ascribed to such terms in the Securities Purchase Agreement.

 

Effective on November 4, 2022, unless Nasdaq objects
to the amended Floor Price (as defined below) prior to such date, Section 4.21 of the Securities Purchase Agreement shall be amended and
restated as follows:

 

“4.21. Floor for Conversion
Price of the Debentures and Exercise Price of the Warrants. Notwithstanding anything to the contrary in the Transaction Documents,
neither the Conversion Price of the Debentures nor the Exercise Price of the Warrants shall be lower than $2.30 (the “Floor Price”).
The Floor Price shall be proportionately decreased upon a stock split or share subdivision of Ordinary Shares, and shall be proportionately
increased in the case of a reverse stock split or share combination of Ordinary Shares. The Company agrees that while the Debentures and
Warrants remain outstanding, it will not issue Ordinary Shares or Ordinary Share Equivalents at a price per share or with a conversion
or exercise price per share, as applicable, that is below the Floor Price without the prior written consent of the Purchaser.”

 

For the avoidance of doubt,
the amended Floor Price in Section 4.21 above has already been adjusted to reflect the share consolidation on April 22, 2022, in which
every 20 ordinary shares with par value of US$0.0001 were consolidated into one ordinary share with par value of US$0.002.

 

The Securities Purchase Agreement
and this letter agreement shall be read together and shall have the same effect as if the Securities Purchase Agreement and this letter
agreement were contained in one document. Except as expressly modified by this letter agreement, the terms and obligations of the Securities
Purchase Agreement and the Transaction Documents remain unchanged and the Securities Purchase Agreement and Transaction Documents shall
continue in full force and effect.

 

This letter agreement shall
be governed by, construed and enforced in accordance with, the laws of the State of New York, without regard to the conflict of laws principles
thereof.

 

     

     

    

 

If you are in agreement with
the foregoing, please have this letter agreement executed by your authorized representative and return a copy to the undersigned.

 

	 	Very Truly Yours,
	 	 
	 	UCOMMUNE INTERNATIONAL LTD
	 	 	 
	 	By: 	/s/ Siyuan Wang
	 	Name:	Siyuan Wang
	 	Title:	CFO

 

Confirmed and Agreed to:

 

	JAK Opportunities LLC
	 	 	 
	By:	/s/ Antonio Ruiz-Gimenez	 
	Name:	Antonio Ruiz-Gimenez	 
	Title:	Managing Member	 

 

[Signature Page to Securities Purchase Agreement
Amendment]gb-seconddeedofamendment

    SECOND DEED OF AMENDMENT TO EMPLOYMENT AGREEMENT     21 October 2022    Reference is made to the employment agreement dated 31 August 2020 between Global Blue SA and  Jacques Stern (as amended on 24 February 2022 and from time to time) (the “Employment  Agreement”).    Unless otherwise specified, words and expressions defined in the Employment Agreement (or the RSA  Award Certificate and Option Award Certificate as applicable) shall have the same meaning in this  letter.  In accordance with Clause 15.9 of the Employment Agreement, the Company and the Executive agree  the following:    1. AMENDMENT TO ADJUSTMENT MECHANICS  The Company and the Executive agree to make certain further amendments to the adjustment  mechanism set out in clause 4.9 of the Employment Agreement, such changes agreed separately in  writing (including by email) between the Company and the Executive, subject to approval by the  Remuneration Committee of Global Blue Group Holding AG.   2. ADJUSTMENT TO RSAS  The number of RSAs issued and common shares in the Parent Company issued upon the vesting of such  RSAs, in each case to the Executive in respect of each of the RSA tranches listed below, shall be as  listed below.  Such numbers constitute an amendment to the terms of the RSA Award Certificates issued  to the Executive in connection with the relevant grants, pursuant to each of the adjustment mechanisms  set out in clause 4.9 of the Employment Agreement and clause 1 of this letter. For the avoidance of  doubt: (1) the below summary is a restatement of the position as of 13 September 2022, and the only  additional RSAs and common shares to be issued now shall be those set out in the column “Incremental  RSAs Issued”; and (2) all other terms of the RSA Award Certificates shall remain unaffected.   Tranche 1 (awarded on 12 November 2020)    (a) Vested RSAs    Vested RSAs at 18/24 months Initial Net  RSAs   Incremental RSAs  Issued   Revised Net  RSAs  March-22 Vested / No Performance 9,573  10,034  19,607   Sep-22 Vested / No Performance 6,237  3,345  9,582   Total RSAs  15,810  13,379  29,189                       

 

    (b) Unvested RSAs    Unvested RSAs at 36/48 months Initial Net  RSAs   Incremental  RSAs Issued   Revised Net  RSAs  RSA without condition of performance      Sep-23 Vesting 19,192  6,690  25,882   Sep-24 Vesting 19,192  6,690  25,882   Total RSAs  38,384  13,380  51,764        RSA with condition of performance      EPS Growth Criteria 9,596  3,345  12,941   Absolute TSR Criteria 4,798  1,672  6,470   Relative TSR Criteria 4,798  1,672  6,470   Total Sep-23 Vesting 19,192  6,689 25,881        EPS Growth Criteria 9,596  3,345  12,941   Absolute TSR Criteria 4,798  1,672  6,470   Relative TSR Criteria 4,798  1,672  6,470   Total Sep-24 Vesting 19,192  6,689  25,881        Total RSAs  38,384  13,378  51,762       Tranche 2 (awarded on 12 October 2021)    (a) Vested RSAs    Vested RSAs at 18/24 months Initial Net  RSAs   Incremental RSAs  Issued   Revised Net  RSAs  Sep-22 Vested / No Performance 12,187  7,132  19,319   Sep-22 Vested / EPS Growth 6,093  3,566  9,659   Total RSAs  18,280  10,698 28,978       (b) Unvested RSAs    Unvested RSAs at 36/48 months Initial Net  RSAs   Incremental  RSAs Issued   Revised Net  RSAs  RSA without condition of performance      Sep-23 Vesting 18,750  7,132  25,882   Sep-24 Vesting 18,750  7,132  25,882   Sep-25 Vesting 18,750  7,132  25,882   Total RSAs  56,250  21,396  77,646        RSA with condition of performance      EPS Growth Criteria 9,375  3,566  12,941   Absolute TSR Criteria 4,688  1,782  6,470   

 

    Relative TSR Criteria 4,688  1,783  6,471  Total Sep-23 Vesting 18,750  7,131  25,881        EPS Growth Criteria 9,375  3,566  12,941   Absolute TSR Criteria 4,688  1,782  6,470   Relative TSR Criteria 4,688  1,783  6,471   Total Sep-24 Vesting 18,750  7,131  25,881        EPS Growth Criteria 9,375  3,566  12,941   Absolute TSR Criteria 4,688  1,782  6,470   Relative TSR Criteria 4,688  1,783  6,471  Total Sep-25 Vesting 18,750  7,131  25,881        Total RSAs  56,250  21,393  77,643    Tranche 3 (awarded on 19 October 2021)    (a) Vested RSAs    Vested RSAs at 12 months Initial Net  RSAs   Incremental RSAs  Issued   Revised Net  RSAs  Total RSAe  71,495  41,838 113,333     (b) Unvested RSAs    Unvested RSAs at 24 months Initial Net  RSAs   Incremental RSAs  Issued   Revised Net  RSAs  RSA without condition of performance      Total RSAe  165,000  62,757 227,757     3. ADJUSTMENT TO OPTION AWARDS  In accordance with clause 4.10 of the Employment Agreement, the Exercise Prices of the share options  granted to the Executive under the Parent Company's Management Incentive Plan for Share Options  shall be amended as set out below. Such revised prices constitute an amendment to the terms of the  Option Award Certificate issued to the Executive in connection with the relevant grants, pursuant to the  adjustment mechanisms set out in clause 4.10 of the Employment Agreement. For the avoidance of  doubt, all other terms of the Option Award Certificates shall remain unaffected.  Original  Option Strike  Price  New Option  Strike Price   Vesting Period     15 Feb  2022  15 Aug  2022  15 Aug  2023  15 Aug  2024  TOTAL  US$ 8.50 US$ 6.4232  335,155  111,718  223,437  223,437  893,747  US$ 10.50 US$ 8.4232 283,594  94,531  189,063  189,063  756,251  

 

    US$ 12.50 US$ 10.4232 232,031  77,344  154,688  154,688  618,751  US$ 14.50 US$ 12.4232  180,469  60,156  120,313  120,313  481,251  TOTAL  1,031,249  343,749  687,501  687,501  2,750,000       

 

    Executed as a DEED by GLOBAL BLUE SA  By: /s/ Jeremy Henderson-Ross    Name: Jeremy Henderson-Ross    Title: Authorised Signtory           Executed as a DEED by JACQUES STERN      By: /s/ Jacques Stern      Witness Signature: /s/ witness    Witness Name: ______________________    Witness Title: _______________________    Witness Address: _____________________

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