EXHIBIT 10.4
FORM OF NON-COMPETITION AND NON-SOLICITATION AGREEMENT
THIS NON-COMPETITION AND NON-SOLICITATION AGREEMENT (this “Agreement”) is being executed and delivered as of , 2022, by the undersigned shareholder of the Company (as defined below) (the “Subject Party”) in favor of and for the benefit of BCAC Holdings Inc., a Delaware corporation which will be known after the consummation of the transactions contemplated by the Merger Agreement (as defined below) (the “Closing”) as “eCombustible Products Holdings Corporation” (together with its successors, “Pubco”), eCombustible Energy, LLC, a Delaware limited liability company (together with its successors, including the Company Surviving Subsidiary (as defined in the Merger Agreement) (the “Company”), and each of Pubco’s and/or the Company’s respective present and future Affiliates, successors and direct and indirect Subsidiaries (including Purchaser) (collectively with Pubco and the Company, the “Covered Parties”). Any capitalized term used but not defined in this Agreement will have the meaning ascribed to such term in the Merger Agreement.
WHEREAS, Pubco and the Company are parties to that certain Agreement and Plan of Merger, dated as of November 23, 2021 (as amended from time to time in accordance with the terms thereof, the “Merger Agreement”), by and among (i) Benessere Capital Acquisition Corp., a Delaware corporation, and, prior to giving effect to the Closing, the parent entity of Pubco (together with its successors, including the Purchaser Surviving Subsidiary, “Purchaser”), (ii) Pubco, (iii) BCAC Purchaser Merger Sub Inc., a Delaware corporation and a wholly-owned subsidiary of Pubco (“Purchaser Merger Sub”), (iv) BCAC Merger Sub LLC, a Delaware limited liability company and a wholly-owned subsidiary of Pubco (“Company Merger Sub”, and together with Pubco, Purchaser and Purchaser Merger Sub, the “Purchaser Parties”),(v) BCAC Purchaser Rep LLC, a Delaware limited liability company, in its capacity as the Purchaser Representative thereunder (including any successor Purchaser Representative appointed in accordance therewith, the “Purchaser Representative”), (vi) the Company, and (vii) Jorge Arevalo, in his capacity as Seller Representative thereunder, pursuant to which, subject to the terms and conditions thereof, among other matters, (a) Purchaser Merger Sub will merge with and into Purchaser, with Purchaser continuing as the surviving entity (the “Purchaser Merger”), and with security holders of Purchaser receiving substantially equivalent securities of Pubco, and (b) Company Merger Sub will merge with and into the Company, with the Company continuing as the surviving entity (the “Company Merger”, and together with the Purchaser Merger, the “Mergers” and, collectively with the other transactions contemplated by the Merger Agreement, the “Transactions”), and with the equity holders of the Company, including the Subject Party, receiving shares of common stock of Pubco, and as a result of which Mergers, among other matters, Purchaser and the Company will become wholly-owned subsidiaries of Pubco and Pubco will become a publicly traded company, all upon the terms and subject to the conditions set forth in the Merger Agreement and in accordance with the applicable provisions of the DGCL and the DLLCA;
WHEREAS, the Company (and, after the Closing, Pubco), directly and indirectly through its Subsidiaries, fabricates modular fuel supply units, through which it produces customized hydrogen-based fuel solutions and enters into long-term fuel supply contracts with customers with respect to such units and solutions] (collectively, the “Business”);
WHEREAS, in connection with, and as a condition to the Closing and to enable the Purchaser and Pubco to secure more fully the benefits of the Transactions, including the protection and maintenance of the goodwill and confidential information of the Company and its Subsidiaries and the other Covered Parties, the Purchaser, Pubco and the Company have required that the Subject Party enter into this Agreement;
WHEREAS, the Subject Party is entering into this Agreement in order to induce the Purchaser and Pubco to enter into the Merger Agreement and consummate the Transactions, pursuant to which the Subject Party will directly or indirectly receive a material benefit; and