Amendment to Consulting Agreement, dated April 1, 2022, by and between the Registrant and Jonathan R. Darnell
Exhibit 10.10
AltEnergy Acquisition Corp.
137 Rowayton Avenue
Rowayton, Connecticut 06853
April 1, 2022
Jonathan R. Darnell
450 E. 63rd Street, Apt 3E
New York, NY 10065
Re: | Consulting Agreement |
Dear Jon,
Reference is made to that certain letter agreement (the Consulting Agreement) dated April 12, 2021, by and between Jonathan R. Darnell (you) and A1tEnergy Acquisition Corp. (the Company). Capitalized terms used herein and not otherwise defined shall have the meanings assigned to them in the Consulting Agreement. This letter (this Amendment) when signed by you and the Company shall constitute an amendment to the Consulting Agreement.
1. Amendment. We hereby agree to amend and restate Section 2(a) of the Consulting Agreement to read in its entirety as follows:
(a) A consulting fee at the monthly rate of Fifteen Thousand Six Hundred and 00/100 Dollars ($15,600.00), which shall be paid monthly throughout the Term (as defined herein) (the Consulting Fee); provided, however, commencing April 1, 2022, $10,400 of the Consulting Fee shall be paid in cash monthly and $5,200 shall be accrued by the Company for your benefit to be paid upon the closing of a Business Combination (as defined in Section 3) if such closing occurs. If a Business Combination does not occur then the accrued amount described in preceding sentence shall not be due or paid. In connection with payment of the Consulting Fee, you shall submit an invoice to the Company on the last day of each calendar month throughout the Term providing a brief description of the services provided in the respective month.
2. Miscellaneous.
(a) Except as modified herein, all terms and conditions of the Consulting Agreement shall remain in full force and effect.
(b) This Amendment shall be construed and enforced exclusively in accordance with the laws of the State of New York without giving effect to any choice or conflict of law rules to the contrary, except that there shall be no presumption against the draftsman in the interpretation of this Amendment by any court.
(c) This Amendment may be executed in counterparts and by each party hereto on a separate counterpart, all of which when so executed shall be deemed to be an original, and all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Amendment by facsimile or email transmission shall be effective as delivery of a manually executed counterpart of this Amendment.
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Please confirm your acceptance of this Amendment by signing below, and then return the executed Amendment to the Company.
Sincerely, |
/s/ Russell M. Stidolph |
Russell M. Stidolph |
Chief Executive Officer |
AGREED: |
/s/ Jonathan R. Darnell |
Jonathan R. Darnell |
Date: April 11, 2022 |
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