Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On
On
In connection with the appointment of
· A Letter Agreement, dated as of
the Company andMr. Allen , pursuant to which he has agreed to (i) waive any redemption rights with respect to any shares of the Company's Class B common stock, par value$0.0001 per share, issued to theSponsor and Health Assurance Economy Foundation , aDelaware corporation (the "Foundation" and such shares, the "Alignment Shares") and shares of the Company's Class A common stock, par value$0.0001 per share, sold as part of the SAILSM securities in the Company's initial public offering ("Public Shares") he holds in connection with the completion of the Company's initial business combination, (ii) waive any redemption rights with respect to any Alignment Shares and Public Shares he holds in connection with a stockholder vote to approve an amendment to the Company's Second Amended and Restated Certificate of Incorporation to modify the substance or timing of the Company's obligation to redeem 100% of the Company's Public Shares if the Company has not consummated an initial business combination within 24 months from the closing of the initial public offering, which occurred onNovember 17, 2020 (or such later date as approved by holders of a majority of shares of the Company's outstanding common stock that are voted at a meeting to extend such date, voting together as a single class) or with respect to any other material provisions relating to stockholders' rights or pre-initial business combination activity and (iii) waive any rights to liquidating distributions from the trust account with respect to any Alignment Shares he holds if the Company fails to complete its initial business combination within 24 months from the closing of the initial public offering, or such later date as described in (ii) above (although he will be entitled to liquidating distributions from the trust account with respect to any Public Shares he holds if the Company fails to complete its initial business combination within the prescribed time frame); and
· An Indemnity Agreement, dated as of
between the Company andMr. Allen , providingMr. Allen contractual indemnification in addition to the indemnification provided for in the Company's Second Amended and Restated Certificate of Incorporation.
The foregoing descriptions of the Letter Agreement and the Indemnity Agreement do not purport to be complete and are qualified in their entireties by reference to the Letter Agreement and the Indemnity Agreement, copies of which are attached as Exhibits 10.1 and 10.2, respectively, and are incorporated herein by reference. The terms of these agreements are substantially the same as the terms signed by the Company's directors and officers as of the closing of the initial public offering and as currently in effect.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. 10.1 Letter Agreement, dated as ofApril 5, 2022 , between the Company andMark Allen . 10.2 Indemnity Agreement, dated as ofApril 5, 2022 , between the Company andMark Allen . 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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