Exhibit 10.26
9 September 2024
Variation Agreement
Between:
A. | Gelteq Limited (Gelteq); and |
B. | ARC Group Limited (ARC). |
1. | The parties (Gelteq and ARC) entered into a Financial Services Advisory agreement dated 13 February 2024 (Agreement). |
2. | Terms capitalised herein, unless defined in this letter shall have the same meaning as in the Agreement. |
3. | Clause 4 of the Agreement states that the Agreement expires upon completion of the IPO or 30 June 2024 (whichever is the soonest). |
4. | The parties acknowledge that the IPO of Gelteq has not occurred and that Gelteq continues to require the services of Arc in accordance with this Agreement. |
5. | The parties agree: |
a. | to extend and vary the agreement so that the reference to 30 June 2024 is varied | |
b. | that all other terms and conditions of the Agreement remain in full force and effect; | |
c. | that no other provision of this agreement (including any provisions relating to the Advisory Service Fees) are varied; | |
d. | clauses 6 9 of the Agreement apply to this letter as though they were restated in this letter. |
By signing this agreement the parties agree to the provision set out herein.
Agreed and accepted for an on behalf of: | Agreed and accepted for an on behalf of: |
Gelteq Ltd | ARC Group Ltd | |
/s/ Nathan Givoni | /s/ Authorized Signatory | |
Nathan Givoni | Authorized Signatory | |
CEO | Managing Partner | |
Date: 09/09/2024 | Date: 09/09/2024 |
Gelteq and Arc - Variation - 9 September 2024