Administrative Services Agreement, dated January 12, 2021, between the Company and the Sponsor

Contract Categories: Business Operations - Services Agreements

Exhibit 10.6


Execution Version




1140 Avenue of the Americas, 9th Floor
New York, NY 10036


January 12, 2021


Pontem LLC

1140 Avenue of the Americas, 9th Floor New York, NY 10036


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 the securities of Pontem Corporation (the “Company””) and continuing until the earlier of (i) the consummation by the Company of an initial business combination and (ii) the Company's liquidation (in each case as described in the Registration Statement) (such earlier date hereinafter referred to as the Termination Date””), Pontem LLC (the “Sponsor”) shall take steps directly or indirectly to make available to the Company certain office space and secretarial and administrative services as may be required by the Company from time to time, situated at 1140 Avenue of the Americas, 9th Floor, New York, NY 10036 (or any successor location). In exchange therefor, the Company shall pay the Sponsor a sum of $10,000 per month on the Effective Date and continuing monthly thereafter until the Termination Date. The Sponsor hereby agrees that it does not have any right, title, interest or claim of any kind (a Claim””) in or to any monies that may be set aside in a trust account (the Trust Account”) that may be established upon the consummation of the IPO and hereby irrevocably 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.


This letter agreement constitutes the entire agreement and understanding of the parties hereto in respect of its subject matter and supersedes all prior understandings, agreements, or representations by or between the parties hereto, written or oral, to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby.


This letter agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed by the parties hereto.


The parties may not assign this letter agreement and any of their rights, interests, or obligations hereunder without the consent of the other party.


This letter agreement shall be governed by, construed in accordance with, and interpreted pursuant to the laws of the State of New York, without giving effect to its choice of laws principles that will apply the laws of another jurisdiction.


This letter agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same agreement. Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence of this letter agreement.


[Signature Page Follows]





  Very truly yours,
  By: /s/ Nina Murphy
  Name: Nina Murphy
  Title: Chief Financial Officer






By: /s/ Nina Murphy  
Name: Nina Murphy  
Title: Chief Financial Officer  


[Signature Page to Administrative Services Agreement]