Termination Agreement for Agreement and Plan of Merger between Corcentric, Inc. and North Mountain Merger Corp.
Corcentric, Inc. and North Mountain Merger Corp. have mutually agreed to terminate their previously signed Agreement and Plan of Merger, effective immediately as of August 29, 2022. This termination is in accordance with the terms set out in the original merger agreement. Both parties acknowledge and consent to ending the planned merger and any related transactions, with no further obligations under the original agreement.
EXHIBIT 10.1
| Corcentric, Inc. 200 Lake Drive East Cherry Hill, NJ 08002 | North Mountain Merger Corp. 767 Fifth Avenue, 9th Floor New York, New York 10153 |
August 29, 2022
RE: Termination of the Merger Agreement
Reference is made to that certain Agreement and Plan of Merger, dated as of December 9, 2021 (the “Merger Agreement”), by and among Corcentric, Inc. (the “Company”), North Mountain Merger Corp. (“Acquiror”), North Mountain Merger Sub Inc. and North Mountain Merger Sub II, LLC. Capitalized terms used herein shall have the same meaning as ascribed to them in the Merger Agreement.
Pursuant to Section 10.0l(a) of the Merger Agreement, by executing below, the Company and Acquiror each hereby agree to cause the termination of the Merger Agreement and the transactions contemplated thereby, effective immediately, giving effect to the express terms of Section 10.02(a) of the Merger Agreement.
Acknowledged and agreed to as of the date first written above
| CORCENTRIC, INC. | |||
| By: | /s/ Douglas Clark | ||
| Name: Douglas Clark | |||
| Title: Chief Executive Officer | |||
| NORTH MOUNTAIN MERGER CORP. | |||
| By: | Charles Bernicker | ||
| Name: Charles Bernicker | |||
| Title: Chief Executive Officer | |||
