SEC Contract Filing

Filing Date: 2024-08-29

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>4
<FILENAME>tm2422966d1_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Supplemental Agreement
(this &ldquo;<U>Agreement</U>&rdquo;), dated as of August&nbsp;28, 2024, is entered into by and between <B>YA II PN,&nbsp;LTD.</B>, a
Cayman Islands exempt limited company (the &ldquo;<U>Investor</U>&rdquo;), <B>CANOO INC.</B>, a corporation organized and existing under
the laws of the State of Delaware (the &ldquo;<U>Company</U>&rdquo;). Capitalized terms not otherwise defined herein shall have the meanings
set forth in the July&nbsp;Prepaid Advance Agreement (as defined below).</P>

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

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<TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">On June&nbsp;13, 2024, the parties entered into that certain Pre-Paid Advance Agreement (as amended and
supplemented from time to time, the &ldquo;<U>June&nbsp;PPA</U>&rdquo;) pursuant to which Yorkville agreed to advance $15,000,000 to the
Company (the &ldquo;<U>June&nbsp;Prepaid Advance</U>&rdquo;) pursuant to the terms set forth in the June&nbsp;PPA. As of the date hereof,
$15,000,000 in principal amount and $158,219.18 of accrued and unpaid interest remains outstanding under the June&nbsp;Prepaid Advance
(collectively, the &ldquo;<U>Outstanding June&nbsp;PPA Amount</U>&rdquo;).</TD></TR></TABLE>

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<TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">On July&nbsp;19, 2024, the parties entered into that certain Pre-Paid Advance Agreement (as amended and
supplemented from time to time, including by this Agreement, the &ldquo;<U>July&nbsp;Prepaid Advance Agreement</U>&rdquo;) pursuant to
which the Company may, subject to conditions and limitations set forth in the July&nbsp;Prepaid Advance Agreement, request Prepaid Advances
from time to time in an aggregate amount not to exceed the Maximum Advance Amount from the Investor by providing a Request. On that same
day, the Company requested, and the Investor agreed to advance, $15,000,000 (the &ldquo;<U>First Prepaid Advance</U>&rdquo;) pursuant
to the terms set forth in the July&nbsp;Prepaid Advance Agreement.</TD></TR></TABLE>

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<TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify">On July&nbsp;20, 2022, the parties entered into that certain Pre-Paid Advance Agreement (as amended and
supplemented from time to time, including by the March&nbsp;2024 Supplemental Agreement (as defined below), the &ldquo;<U>2022 PPA</U>&rdquo;)
pursuant to which the Company could, subject to the conditions and limitations set forth in the 2022 PPA, request Pre-Paid Advances (as
defined in the 2022 PPA) in an amount not to exceed the Maximum Advance Amount (as defined in the 2022 PPA) not to exceed the Maximum
Advance Amount from the Investor by providing a written Request (as defined in the 2022 PPA). On March&nbsp;12, 2024, the parties entered
into that certain Supplemental Agreement (the &ldquo;<U>March&nbsp;2024 Supplemental Agreement</U>&rdquo;) pursuant to which the Company
requested, and the Investor agreed to advance to the Company, $62,032,000.</TD></TR></TABLE>

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<TD STYLE="width: 0.5in">(D)</TD><TD STYLE="text-align: justify">Pursuant to this Agreement, the parties desire to supplement the terms and conditions of the July&nbsp;Prepaid
Advance Agreement in respect of a second Request for a Prepaid Advance in the amount of $25,158,219.18 to be provided by the Company to
the Investor concurrently with the execution of this Agreement. This Agreement shall govern the Second Prepaid Advance (as defined below).</TD></TR></TABLE>

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