Amendment to Financial Services Agreement between ExcelFin Acquisition Corp. and Fin Venture Capital
ExcelFin Acquisition Corp. and Fin Venture Capital have agreed to amend their existing Financial Services Agreement. The amendment changes the agreement's end date to the earlier of the company's initial business combination or December 31, 2022. It also updates the payment terms, specifying that ExcelFin will pay Fin Venture Capital $112,500 per quarter starting March 15, 2021, until the new termination date. All other terms of the original agreement remain unchanged.
Exhibit 10.11
ExcelFin Acquisition Corp.
473 Jackson St., Suite 300
San Francisco, CA 94111
March 29, 2022
Fin Venture Capital
473 Jackson St., Suite 300
San Francisco, CA 94111
Re: Financial Services Agreement
Ladies and Gentlemen:
On October 20, 2021, ExcelFin Acquisition Corp., a Delaware corporation (the “Company”), and Fin Venture Capital (the “Services Provider”), entered into a letter agreement (the “Financial Services Agreement”) providing that the Service Provider shall provide certain services to the Company until the Termination Date (as defined therein). By this letter, the Company and the Services Provider hereby agree that:
1.The Termination Date shall be amended to be the earlier of the consummation by the Company of an initial business combination (as described in the Registration Statement on Form S-1 (File No. 333-260038) filed with the Securities and Exchange Commission) and December 31, 2022 (such earlier date hereinafter referred to as the “Termination Date”); and
2.The last sentence in the Paragraph 1 is hereby amended to read: “In exchange therefor, the Company shall pay the Services Provider the sum of $112,500 per quarter commencing on March 15, 2021 and continuing quarterly thereafter until the Termination Date; and”
Except as set forth herein, the Financial Services Agreement shall not be amended and shall remain in full force and effect.
This letter agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same letter agreement.
| Very truly yours, | ||
| | | |
| EXCELFIN ACQUISITION CORP. | ||
| | | |
| By: | /s/ Joe Ragan | |
| | Name: | Joe Ragan |
| | Title: | Chief Financial Officer |
AGREED TO AND ACCEPTED BY: | |||
| | ||
FIN VENTURE CAPITAL | |||
| | ||
By: | /s/ Logan Allin | | |
| Name: | Logan Allin | |
| Title: | Chief Executive Officer | |
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