SEC Contract Filing

Filing Date: 2024-01-31

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>4
<FILENAME>tm244743d1_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;10.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><I>Execution Version</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FEE MODIFICATION AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>January&nbsp;25, 2024</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B></FONT>,
pursuant to that certain Underwriting Agreement between Newcourt Acquisition Corp (together with any successor entity thereto, the &ldquo;<B><I>Company</I></B>&rdquo;)
and Cantor Fitzgerald&nbsp;&amp; Co., as Representative of the several Underwriters (&ldquo;<B><I>CF&amp;CO</I></B>&rdquo;), dated October&nbsp;19,
2021 (as may be amended from time to time, the &ldquo;<B><I>Underwriting Agreement</I></B>&rdquo;), entered into in connection with the
Company&rsquo;s initial public offering (&ldquo;<B><I>IPO</I></B>&rdquo;), CF&amp;CO is entitled to deferred underwriting commissions
of $5,567,500 in the aggregate (after giving effect to the waiver (the &ldquo;<B><I>Waiver</I></B>&rdquo;) of 50% of the original $11,135,000
deferred underwriting fee, which waiver CF&amp;CO hereby reaffirms) (the &ldquo;<B><I>Deferred Fee</I></B>&rdquo;), upon the consummation
of a Business Combination. Capitalized terms used herein and not defined shall have the respective meanings ascribed to such terms in
the Underwriting Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B></FONT>,
the Company has entered into that certain Amended and Restated Business Combination Agreement, dated as of July&nbsp;31, 2023 (as may
be amended from time to time, the &ldquo;<B><I>Business Combination Agreement</I></B>,&rdquo; and the transactions contemplated thereby,
the &ldquo;<B><I>Transaction</I></B>&rdquo;) with Psyence Biomed II Corp. (including any affiliates thereof, &ldquo;<B><I>Psyence</I></B>&rdquo;)
and certain other parties. For the avoidance of doubt, following the Transaction with Psyence, for purposes hereof, all references to
the &ldquo;Company&rdquo; herein shall also refer to any public successor entity to the Company following the Transaction, in particular
 &ldquo;Psyence Biomedical Ltd.,&rdquo; the contemplated public entity parent to the Company (the &ldquo;<B><I>Successor</I></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B></FONT>,
as of the date hereof, CF&amp;CO has become a party to that certain lock-up agreement by and among the Successor, the Company and certain
other shareholders of the Successor (the &ldquo;<B><I>Lock-Up Agreement</I></B>&rdquo;), with respect to (x)&nbsp;187,000 New Common Shares
(as defined herein) and (y)&nbsp;93,500 warrants to purchase New Common Shares, in each case, purchased in a private placement in connection
with the Company&rsquo;s IPO (collectively, the &ldquo;<B><I>CF&amp;CO IPO PP Securities</I></B>&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the Company and CF&amp;CO (collectively the &ldquo;<B><I>Parties</I></B>&rdquo;
and each, a &ldquo;<B><I>Party</I></B>&rdquo;), hereby agree as follows:</P>

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 <TD STYLE="width: 48px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD>
 <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Fee Reduction</U></FONT>: In the event that the Company consummates the Transaction,</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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 <TD STYLE="width: 48px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD>
 <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CF&amp;CO agrees that it will forfeit the entirety of the $5,567,500 Deferred Fee that would otherwise be payable by the Company to CF&amp;CO pursuant to the Underwriting Agreement, and, in lieu thereof, and in satisfaction in full of the obligations to deliver the Deferred Fee to CF&amp;CO, the