Item 1.02 Termination of a Material Definitive
Agreement.
As previously reported, on December 9, 2021, North
Mountain Merger Corp., a Delaware corporation (“North Mountain”), entered into an Agreement and Plan of Merger (the
“Merger Agreement”) with North Mountain Merger Sub Inc., a wholly owned subsidiary of North Mountain (“Merger
Sub I”), North Mountain Merger Sub II, LLC, a wholly owned subsidiary of North Mountain (“Merger Sub II”),
and Corcentric, Inc., a Delaware corporation (“Corcentric”).
Termination of Merger Agreement
On August 29, 2022, North Mountain and
Corcentric announced that they had entered into a Letter Agreement (the “Termination
Agreement”), pursuant to which the parties agreed to mutually terminate the Merger Agreement, effective
immediately.
Termination of Related Agreements
As a result of the termination of the Merger Agreement,
the Merger Agreement will be of no further force and effect, and each of the transaction agreements entered into in connection with the
Merger Agreement, including, but not limited to (i) the Share Vesting and Warrant Surrender Agreement (the “Share Vesting and
Warrant Surrender Agreement”), dated as of December 9, 2021, by and between North Mountain, North Mountain LLC, a Delaware limited
liability company (the “Sponsor”), and Corcentric, (ii) the lockup agreements (the “Lockup Agreements”),
each dated as of December 9, 2021, entered into by North Mountain and certain Corcentric stockholders, (iii) the registration rights agreement
(the “Registration Rights Agreement”), dated as of December 9, 2021, by and among North Mountain, the Sponsor and certain
stockholders of Corcentric, (iv) the subscription agreements (the “Subscription Agreements”), each dated as of December
9, 2021, between North Mountain, investment funds managed by Wellington Management Company LLP, Millais Limited and SMMC Sponsor Interests,
LLC and (v) the support agreement (the “Support Agreement”), dated as December 9, 2021, by and among North Mountain,
Merger Sub I, Merger Sub II and certain stockholders of Corcentric, will either automatically be terminated in accordance with their terms
or be of no further force and effect.
The foregoing descriptions of the Merger Agreement,
the Termination Agreement, the Share Vesting and Warrant Surrender Agreement, the Lockup Agreements, the Registration Rights Agreement
and the Subscription Agreements do not purport to be complete and are qualified in their entirety by the terms and conditions of the full
text of the Termination Agreement, which is attached hereto as Exhibit 10.1, the full text of the Merger Agreement, which was previously
filed as Exhibit 2.1 to North Mountain’s Current Report on Form 8-K (the “Signing 8-K”) filed with the U.S. Securities
and Exchange Commission (the “SEC”) on December 10, 2022, the full text of the Share Vesting and Warrant Surrender
Agreement, which was previously filed as Exhibit 10.5 to the Signing 8-K, the full text of the Lockup Agreements, the form of which was
previously filed as Exhibit 10.4 to the Signing 8-K, the full text of the Registration Rights Agreement, which was previously filed as
Exhibit 10.3 to the Signing 8-K, and the full text of the Subscription Agreements, a form of which was previously filed as Exhibit 10.1
to the Signing 8-K., and the full text of the Support Agreement, which was previously filed as Exhibit 10.2 to the Signing 8-K.