Form of Administrative Support Agreement by and between the Registrant and ShiftPixy Investments, Inc

Contract Categories: Business Finance - Investment Agreements
EX-10.9 20 tm2113504d5_ex10-9.htm EXHIBIT 10.9


Exhibit 10.9


TechStackery, Inc.

501 Brickell Key Drive, Suite 300

Miami, FL 33131

[●], 2021

ShiftPixy Investments, Inc.
501 Silverside Road, Suite 102

Wilmington, Delaware 19809


Re: Administrative Services Agreement


Ladies and Gentlemen:


This letter agreement by and between TechStackery, Inc., a Delaware corporation (the “Company”) and ShiftPixy Investments, Inc., a Wyoming corporation (the “Sponsor”), will confirm our agreement that, commencing on the date the securities of the Company are first listed on The New York Stock Exchange (the “Listing Date”), pursuant to a Registration Statement on Form S-1 (Registration No. 333-255595) and related prospectus filed with the U.S. Securities and Exchange Commission (the “Registration Statement”) and continuing until the earlier of the consummation by the Company of an initial business combination (as defined in the Registration Statement) or the Company’s liquidation (in each case as described in the Registration Statement) (such earlier date hereinafter referred to as the “Termination Date”):


(i) the Sponsor shall make available, or cause to be made available, to the Company, at 501 Brickell Key Drive, Suite 300, Miami, FL 33131 (or any successor location of the Sponsor), certain office space, utilities and secretarial and administrative support as may be reasonably required by the Company. In exchange therefor, the Company shall pay the Sponsor the sum of $10,000 per month payable commencing on the Listing Date and continuing monthly thereafter until the Termination Date; and


(ii) the Sponsor hereby irrevocably waives any and all right, title, interest, causes of action and claims of any kind as a result of, or arising out of, this letter agreement in or to, and any and all right to seek payment of any amounts due to it (each, a “Claim”) out of, the trust account established for the benefit of the public stockholders of the Company and into which substantially all of the proceeds of the Company’s initial public offering will be deposited (the “Trust Account”), and hereby irrevocably waives any Claim it may have in the future, which Claim would reduce, encumber or otherwise adversely affect the Trust Account or any monies or other assets in the Trust Account, and further agrees not to seek recourse, reimbursement, payment or satisfaction of any Claim against the Trust Account or any monies or other assets in 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 among 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. 


No party hereto may assign either this letter agreement or any of its rights, interests, or obligations hereunder without the prior written approval of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest or title to the purported assignee.


This letter agreement constitutes the entire relationship of the parties hereto, and any litigation between the parties (whether grounded in contract, tort, statute, law or equity) 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 law principles.





[Signature Page Follows]





  Very truly yours,
  Name:  Scott W. Absher
  Title:    Chief Executive Officer
  ShiftPixy Investments, Inc.


[Signature Page to Administrative Services Agreement]