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20 Cube TERMINATION AGREEMENT

This document summarizes a termination agreement between 20cube logistics pte ltd and Drake Star Securities LLC to end their engagement where Drake Star was acting as the exclusive financial advisor for 20cube on a proposed SPAC transaction. The agreement mutually releases both parties from any liability or claims relating to the terminated engagement and agreement. It also limits both parties' liability to each other and keeps the confidentiality provisions in place. The termination agreement is governed by New York law and becomes effective upon signature by both parties.

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61 views2 pages

20 Cube TERMINATION AGREEMENT

This document summarizes a termination agreement between 20cube logistics pte ltd and Drake Star Securities LLC to end their engagement where Drake Star was acting as the exclusive financial advisor for 20cube on a proposed SPAC transaction. The agreement mutually releases both parties from any liability or claims relating to the terminated engagement and agreement. It also limits both parties' liability to each other and keeps the confidentiality provisions in place. The termination agreement is governed by New York law and becomes effective upon signature by both parties.

Uploaded by

ankit
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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TERMINATION AGREEMENT

By and Between

This Termination Agreement (“Agreement”) is made and entered into on [date] by and between
20cube logistics pte ltd having its office at 1 Phillip Street #03-01 Royal One Phillip, Singapore
(together with its subsidiaries and affiliated entities (if any), the “Company”) hereby represented
through it Director Mr. Niruttan -on the one side-

and

Drake Star Securities LLC, having its office at 950 Third Avenue, Suite 2001 New York, NY 10022
(“Drake Star”). hereby represented through it Partner Mr. Chuck Morton -on the second
side-

Hereinafter Company and the Drake Star shall be referred to severally as the “Party” and jointly as
the “Parties”.

RECITALS

WHEREAS, the Company engaged Drake Star as its exclusive financial advisor in connection with a
proposed SPAC Transaction, pursuant to a letter agreement dated July 8, 2021(Terminated
Agreement); and

WHEREAS, << please mention the details of discussions held and the reason for the termination in 2-
3 para>>

WHEREAS, the Company and Drake Star have mutually agreed to terminate the engagement and the
Terminated Agreement, subject to the terms and conditions set forth herein:

1. Termination of Engagement: The engagement of Drake Star as the exclusive financial advisor
in connection with the proposed SPAC Transaction is terminated as of the date of this
Agreement. The Parties hereby mutually agree that the Terminated Agreement is hereby
terminated as of the date of this Agreement. Unless otherwise expressly provided in this
Agreement, neither Party shall have any further rights or obligations under the Terminated
Agreement (including any provisions surviving after termination of any of the Terminated
Agreement).

2. Release of Liability: Each Party hereby releases and discharges the other Party, its Affiliates
and the partners, members, officers, directors, employees and agents of any of the
foregoing, from, and agrees not to initiate any actions against any of such Persons for, any
and all obligations, claims and Liabilities, whether past, present or future, arising from or
relating to any of the Terminated Agreement as of today’s date or the transactions
contemplated thereby. The Company and Drake Star mutually release each other from any
liability, claims, damages, losses, or expenses arising from or related to the engagement and
any work performed under the Terminated Agreement, including without limitation any
breach of the Terminated Agreement.

3. Limitation of Liability: Both parties agree that they shall have no liability to each other,
whether in contract, tort, or otherwise, for any claims, damages, or losses arising from the
Agreement or its termination, except as provided in this Agreement.
4. Confidentiality: The confidentiality provisions of the terminated agreement shall survive the
termination of the engagement and continue to be binding on the parties.

5. Governing Law: This Agreement shall be governed by and construed in accordance with the
laws of State of New York, without regard to its conflicts of laws principles.

6. Entire Agreement: This Agreement constitutes the entire understanding of the parties and
supersedes all prior negotiations, understandings, and agreements between them, whether
written or oral.

7. Counterparts: This Agreement may be executed in counterparts, each of which shall be


deemed an original, but all of which together shall constitute one and the same instrument.

8. Effectiveness: This Agreement shall become effective as of the date written in the signatory
page of this Agreement.

IN WITNESS WHEREOF, the parties have executed this Termination Agreement as of the date first
above written.

20cube logistics pte ltd:

Name:

Title:

Drake Star Securities LLC:

Name:

Title:

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