Administrative Services Agreement, dated March 10, 2021, between the Company and SPAC Partners LLC

Contract Categories: Business Operations - Services Agreements
EX-10.8 12 ea137760ex10-8_archimedes.htm ADMINISTRATIVE SERVICES AGREEMENT, DATED MARCH 10, 2021, BETWEEN THE COMPANY AND SPAC PARTNERS LLC.

Exhibit 10.5

 

Archimedes Tech SPAC Partners Co.

2093 Philadelphia Pike #1968

Claymont, DE 19703

 

March 10, 2021

 

SPAC Partners LLC

2093 Philadelphia Pike #1968

Claymont, DE 19703

 

Ladies and Gentlemen:

 

This letter will confirm our agreement that, commencing on the effective date (the “Effective Date”) of the registration statement (the “Registration Statement”) for the initial public offering (the “IPO”) of Archimedes Tech SPAC Partners Co.’s (the “Company”) securities and continuing until the earlier of (i) the consummation by the Company of an initial business combination or (ii) the Company’s liquidation (in each case as described in the Registration Statement) (such earlier date hereinafter referred to as the “Termination Date”), SPAC Partners LLC shall make available to the Company certain office space, utilities and secretarial support as may be required by the Company from time to time, situated at 2093 Philadelphia Pike #1968, Claymont, DE 19703 (or any successor location). In exchange therefore, the Company shall pay SPAC Partners LLC the sum of $10,000 per month on the Effective Date and continuing monthly thereafter until the Termination Date. SPAC Partners LLC hereby agrees that it does not have any right, title, interest or claim of any kind in or to any monies that may be set aside in a trust account (the “Trust Account”) to be established upon the consummation of the IPO (the “Claim”) and hereby waives any Claim it may have in the future as a result of, or arising out of, any negotiations, contracts or agreements with the Company and will not seek recourse against the Trust Account for any reason whatsoever.

 

 

[Signature Page Follows]

 

 

 

 

  Very truly yours,
   
  Archimedes Tech SPAC Partners Co.
   
  By: /s/ Stephen N. Cannon
    Name: Stephen N. Cannon
    Title: Chief Executive Officer

 

AGREED TO AND ACCEPTED BY:
 
SPAC Partners LLC
   
By: /s/Stephen N. Cannon  
  Name: Stephen N. Cannon  
  Title: Authorized Person  

 

 

[Signature Page to Administrative Services Agreement]