Amendment No. 1 to Asset Purchase Agreement between Marizyme, Inc. and Somahlution, LLC (March 31, 2020)

Summary

Marizyme, Inc. and Somahlution, LLC have agreed to amend their original Asset Purchase Agreement dated December 15, 2019. This amendment updates the termination provisions, allowing either party to terminate the agreement if the transaction is not completed by April 30, 2020, with a possible 30-day extension if short-term funding is arranged, or by mutual written consent. The amendment is effective as of March 31, 2020, and is signed by both parties' CEOs.

EX-10.1 2 f8k060420_ex10z1.htm EXHIBIT 10.1 AMENDMENT NO. 1 DATED MARCH 31, 2020 TO ASSET PURCHASE AGREEMENT DATED DECEMBER 15, 2019 BY AND BETWEEN THE REGISTRANT AND SOMAHLUTION, LLC ET AL. Exhibit 10.1 Amendment No. 1 dated March 31, 2020 to Asset Purchase Agreement dated December 15, 2019 by and between the Registrant and Somahlution, LLC et al.

 

AMENDMENT 1 to the ASSET PURCHASE AGREEMENT Dated December 15, 2019

 

WHEREAS, Somahlution and Marizyme both wish to amend their Asset Purchase Agreement by replacing Section 9(b) in its entirety with a new Section 9(b) below.

 

Somahlutions and Marizyme mutually agree to replacing Section 9(a and b) in its entirety with a new Section 9(a and b) as per the following:

 

9. Termination. This Agreement may be terminated at any time prior to the Closing:

 

(a)by the mutual written consent of Seller and Buyer; 

 

(b)by either Party if the transactions contemplated by this Agreement are not consummated by April 30, 2020, which date shall be automatically extended if short term funding is arranged for up to an additional 30 days if and as required (the “Drop-Dead Date”) and further by mutual agreement;  

 

IN WITNESS WHEREOF, the parties have caused their duly authorized representatives to execute this Agreement as of the date written below.

 

SOMAHLUTION LLC

 

 

Marizyme, Inc.

 

(“Somahlution”)

 

 

(“Marizyme”)

 

 

 

 

 

 

By:

/s/ Satish Chandran

 

By:

/s/ Nicholas DeVito

Title:

CEO

 

Title:

CEO

Date:

March 31, 2020

 

Date:

March 31, 2020

 

Amendment 1 – Asset Purchase Agreement – Marizyme and Somahlutions