Founder Share Forfeiture Agreement between Murphy Canyon Acquisition Sponsor, LLC and Murphy Canyon Acquisition Corp.
Murphy Canyon Acquisition Sponsor, LLC has agreed to forfeit 1,006,250 shares of Class B common stock (Founder Shares) due to changes in the deal structure. This agreement is accepted by Murphy Canyon Acquisition Corp. and is effective as of January 26, 2022. The forfeiture reduces the Sponsor's ownership in the company and reflects an adjustment to the original terms of the business arrangement.
Exhibit 10.9
January 26, 2022
VIA EMAIL
Murphy Canyon Acquisition Corp.
4995 Murphy Canyon Road, Suite 300
San Diego, CA 92123
Ladies and Gentlemen:
In light of the changes to the deal structure, Murphy Canyon Acquisition Sponsor, LLC hereby forfeits 1,006,250 shares of Class B common stock as part of the Founder Shares.
| Very truly yours, | ||
| Murphy Canyon Acquisition Sponsor, LLC | ||
| /s/ Jack Heilbron | ||
| Name: | Jack Heilbron | |
| Title: | Managing Member | |
Agreed to and accepted by:
Murphy Canyon Acquisition Corp.
| /s/ Jack Heilbron | ||
| Name: | Jack Heilbron | |
| Title: | Chief Executive Officer | |
