Exhibit
10.1


 


October
18, 2021


 


Enterprise
4.0 Technology Acquisition Corp.


533
Airport Blvd Suite 400


Burlingame,
CA 94010


 


		Re:	Initial
                                            Public Offering



 


Ladies
and Gentlemen:


 


This
letter (this “Letter Agreement”) is being delivered to you in accordance with the Underwriting Agreement (the
“Underwriting Agreement”) to be entered into by and among Enterprise 4.0 Technology Acquisition Corp., a Cayman
Islands exempted company (the “Company”), and Cantor Fitzgerald & Co. and Mizuho Securities USA LLC, as
representatives (the “Representatives”) of the several underwriters (each, an “Underwriter”
and collectively, the “Underwriters”), relating to an underwritten initial public offering (the “Public
Offering”), of up to 30,015,000 of the Company’s units (including up to 3,915,000 units that may be purchased to
cover over-allotments, if any) (the “Units”), each comprised of one Class A ordinary share of the Company,
par value $0.0001 per share (the “Ordinary Shares”), and one-half of one warrant. Each whole Warrant (each,
a “Warrant”) entitles the holder thereof to purchase one Ordinary Share. The Units shall be sold in the Public
Offering pursuant to a registration statement on Form S-1 (File Nos. 333-259773 and 333-260344) and prospectus (the “Prospectus”)
filed by the Company with the Securities and Exchange Commission (the “Commission”) and the Company shall apply
to have the Units listed on the Nasdaq Global Market. Certain capitalized terms used herein are defined in Section 11 hereof.


 


In
order to induce the Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the Public Offering and
for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, ENT4.0 Technology Sponsor LLC
(the “Sponsor”) and the undersigned individuals, each of whom is a member of the Company’s board of directors
and/or management team, hereby agree with the Company as follows:


 


1.
The Sponsor and each Insider agrees that (A) if the Company seeks shareholder approval of a proposed Business Combination, then in connection
with such proposed Business Combination, it, he or she shall (i) vote any Shares owned by it, him or her in favor of any proposed Business
Combination and (ii) not redeem any Shares owned by it, him or her in connection with such shareholder approval, (B) if the Company engages
in a tender offer in connection with any proposed Business Combination, it, he or she shall not sell any Shares to the Company in connection
therewith and (C) if the Company seeks shareholder approval of any proposed amendment to the Charter prior to the completion of a Business
Combination, it, he or she shall not redeem any Shares owned by it, him or her in connection with such shareholder approval.


 


2.
The Sponsor and each Insider hereby agrees that in the event that the Company fails to complete a Business Combination within the time
period set forth in the Charter, the Sponsor and each Insider shall take all reasonable steps to cause the Company to (i) cease all operations
except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than 10 business days thereafter, subject
to lawfully available funds therefor, redeem 100% of the Ordinary Shares sold as part of the Units in the Public Offering (the “Offering
Shares”), at a per- share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including
interest earned on the funds held in the Trust Account and not previously released to the Company to pay any taxes (less up to $100,000
of interest to pay winding up and dissolution expenses), divided by the number of then outstanding Offering Shares, which redemption
will completely extinguish all Public Shareholders’ rights as shareholders (including the right to receive further liquidation
distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to
the approval of the Company’s remaining shareholders and the Company’s board of directors, dissolve and liquidate, subject
in the case of clauses (ii) and (iii) above to the Company’s obligations under Cayman Islands law to provide for claims of creditors
and other requirements of applicable law. The Sponsor and each Insider agrees to not propose any amendment to the Charter (i) that would
affect the substance or timing of the Company’s obligation to provide holders of the Offering Shares the right to have their Offering
Shares redeemed in connection with the Business Combination or redeem 100% of the Offering Shares if the Company does not complete a
Business Combination within the time period described in the Prospectus or (ii) with respect to any other provision relating to shareholders’
rights or pre-Business Combination activity, unless the Company provides its public shareholders with the opportunity to redeem their
Ordinary Shares upon approval of any such amendment at a per-share price, payable in cash, equal to the aggregate amount then on deposit
in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released to the Company to
pay any taxes, divided by the number of then outstanding Offering Shares.


 






     


     


    

 


The
Sponsor and each Insider acknowledges that it, he or she has no right, title, interest or claim of any kind in or to any monies held
in the Trust Account or any other asset of the Company as a result of any liquidation of the Company with respect to the Founder Shares
held by it, him or her. The Sponsor and each Insider hereby further waives any claim such Sponsor or Insider may have in the future as
a result of, or arising out of, any contracts or agreements with the Company and will not seek recourse against the Trust Fund for any
reason whatsoever except in each case with respect to the Sponsor’s or the Insider’s right to a pro rata interest in the
proceeds held in the Trust Fund for any Offering Shares such Sponsor or Insider may hold.


 


3.
During the period commencing on the effective date of the Underwriting Agreement and ending 180 days after such date, the Sponsor and
each Insider shall not, without the prior written consent of the Representatives, (i) sell, offer to sell, contract or agree to sell,
hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree to dispose of, directly or indirectly, or establish
or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities
Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder, with respect to any Units,
Ordinary Shares, Founder Shares, Warrants or any securities convertible into, or exercisable, or exchangeable for, Ordinary Shares owned
by it, him or her, (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic
consequences of ownership of any Units, Ordinary Shares, Founder Shares, Warrants or any securities convertible into, or exercisable,
or exchangeable for, Ordinary Shares owned by it, him or her, whether any such transaction is to be settled by delivery of such securities,
in cash or otherwise, or (iii) publicly announce any intention to effect any transaction specified in clause (i) or (ii). Each of the
Insiders and the Sponsor acknowledges and agrees that, prior to the effective date of any release or waiver of the restrictions set forth
in this Section 3, the Company shall announce the impending release or waiver by press release through a major news service at least
two business days before the effective date of the release or waiver. Any release or waiver granted shall only be effective two business
days after the publication date of such press release. The provisions of this Section will not apply if the release or waiver is effected
solely to permit a transfer not for consideration and the transferee has agreed in writing to be bound by the same terms described in
this Letter Agreement to the extent and for the duration that such terms remain in effect at the time of the transfer.


 


4.
In the event of the liquidation of the Trust Account, the Sponsor (which for purposes of clarification shall not extend to any other
shareholders, members or managers of the Sponsor) agrees to indemnify and hold harmless the Company against any and all loss, liability,
claim, damage and expense whatsoever (including, but not limited to, any and all legal or other expenses reasonably incurred in investigating,
preparing or defending against any litigation, whether pending or threatened, or any claim whatsoever) to which the Company may become
subject as a result of any claim by (i) any third party for services rendered or products sold to the Company or (ii) a prospective target
business with which the Company has entered into a letter of intent, confidentiality or other similar agreement or a Business Combination
agreement (a “Target”); provided, however, that such indemnification of the Company by the Sponsor
shall apply only to the extent necessary to ensure that such claims by a third party for services rendered or products sold to the Company
or a Target do not reduce the amount of funds in the Trust Account to below (i) $10.20 per share of the Offering Shares or (ii) such
lesser amount per share of the Offering Shares held in the Trust Account due to reductions in the value of the trust assets as of the
date of the liquidation of the Trust Account, in each case, net of the amount of interest earned on the property in the Trust Account
which may be withdrawn to pay taxes, except as to any claims by a third party (including a Target) who executed a waiver of any and all
rights to seek access to the Trust Account and except as to any claims under the Company’s indemnity of the Underwriters against
certain liabilities, including liabilities under the Securities Act of 1933, as amended. In the event that any such executed waiver is
deemed to be unenforceable against such third party, the Sponsor shall not be responsible to the extent of any liability for such third
party claims. The Sponsor shall have the right to defend against any such claim with counsel of its choice reasonably satisfactory to
the Company.


 


5.
To the extent that the Underwriters do not exercise their over-allotment option to purchase up to an additional 3,915,000 Units within
45 days from the date of the Prospectus (and as further described in the Prospectus), the Sponsor agrees to surrender, at no cost, a
number of Founder Shares in the aggregate equal to 978,750 multiplied by a fraction, (i) the numerator of which is 3,915,000 minus the
number of Units purchased by the Underwriters upon the exercise of their over-allotment option, and (ii) the denominator of which is
3,915,000.


 






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6.
The Sponsor and each Insider hereby agrees and acknowledges that: (i) the Underwriters and the Company would be irreparably injured in
the event of a breach by such Sponsor or an Insider of its, his or her obligations under Sections 1, 2, 3, 4, 5, 7(a), 7(b), and 9, as
applicable, of this Letter Agreement (ii) monetary damages may not be an adequate remedy for such breach and (iii) the non-breaching
party shall be entitled to injunctive relief, in addition to any other remedy that such party may have in law or in equity, in the event
of such breach.


 


7.
(a) Subject to Section 7(c), the Sponsor and each Insider agrees that it, he or she shall not Transfer any Founder Shares (or Ordinary
Shares issuable upon conversion thereof) until the earlier of (A) one year after the completion of the Company’s initial Business
Combination or (B) subsequent to the Business Combination, (x) if the last sale price of the Ordinary Shares equals or exceeds $12.00
per share (as adjusted for share splits, share capitalizations, rights issuances, subdivisions, reorganizations, recapitalizations and
the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Company’s initial Business
Combination or (y) the date on which the Company completes a liquidation, merger, share exchange, reorganization or other similar transaction
that results in all of the Company’s shareholders having the right to exchange their Ordinary Shares for cash, securities or other
property (the “Founder Shares Lock-up Period”).


 


(b)
Subject to Section 7(c), the Sponsor and each Insider agrees that it, he or she shall not Transfer any Placement Units, Sponsor Loan
Units, Placement Shares, Sponsor Loan Shares, Placement Warrants (or Ordinary Shares issued or issuable upon the conversion or exercise
of Placement Warrants), Sponsor Loan Warrants (or Ordinary Shares issued or issuable upon the conversion or exercise of Sponsor Placement
Warrants) until 30 days after the completion of a Business Combination (the “Placement Unit Lock-up Period”,
together with the Founder Shares Lock-up Period, the “Lock-up Periods”).


 


(c)
Notwithstanding the provisions set forth in Sections 7(a) and (b), Transfers of the Founder Shares, Placement Units, Sponsor Loan Units,
Placement Shares, Placement Warrants, Sponsor Loan Warrants and Ordinary Shares issued or issuable upon the exercise or conversion of
Placement Warrants or Sponsor Loan Warrants or the Founder Shares and that are held by the Sponsor, any Insider or any of their permitted
transferees (that have complied with this Section 7(c)), are permitted (1) (a) to the Company’s officers and directors, the Initial
Holders, and other Insiders, (b) to an affiliate or immediate family member of any of the Company’s officers, directors, Initial
Holders and other Insiders, (c) to any member, officer or director of the Sponsor, or any immediate family member, partner, affiliate
or employee of a member of the Sponsor, (d) by gift to any permitted transferee under any of the immediately preceding subsections (a)
through (c), a trust, the beneficiaries of which are one or more permitted transferees under any of the immediately preceding subsections
(a) through (c), or a charitable organization, (e) by virtue of laws of descent and distribution upon death of any of the Company’s
officers, directors, Initial Holders or members of the Sponsor, (f) pursuant to a qualified domestic relations order, (g) in the event
of the Company’s liquidation prior to completion of the initial Business Combination, (h) by virtue of the laws of the Cayman Islands
or the Sponsors’ limited liability company agreements upon dissolution of either Sponsor, (i) subsequent to the initial Business
Combination, upon and in connection with a liquidation, merger, share exchange or other similar transaction which results in all of the
Company’s shareholders having the right to exchange their Ordinary Shares for cash, securities or other property, (j) subsequent
to the initial Business Combination, in the event of a consolidation merger, share exchange or similar transaction in which the Company
is the surviving entity that results in a change in the majority of its board of directors or management team and (k) through private
sales or transfers made in connection with any forward purchase agreement or similar arrangement or in connection with the completion
of the initial Business Combination at prices no greater than the price at which the Founder Shares, Placement Shares, Sponsor Loan Shares
or Warrants were originally purchased; provided, however, that in the case of clauses (a) through (f), (h) and (k) these permitted transferees
must enter into a written agreement agreeing to be bound by these transfer restrictions, and (2) in connection with an initial Business
Combination with the consent of the Company to any third party that agrees in writing to be bound by the provisions of this Letter Agreement
applicable to Insiders (other than paragraph 1). For the avoidance of doubt, for the purposes of this Letter Agreement, a managed account
managed by the same investment manager of any member of the Sponsor shall be deemed an affiliate of such member.


 




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(d)
Subject to the limitations described herein, each Insider shall retain all of such Insider’s rights as a security holder during,
as applicable, the Lock-Up Periods including, without limitation, the right to vote, as the case may be, the Founder Shares and/or Placement
Shares or Sponsor Loan Shares.


 


8.
The Sponsor and each Insider represents and warrants that it, he or she has never been suspended or expelled from membership in any securities
or commodities exchange or association or had a securities or commodities license or registration denied, suspended or revoked. Each
Insider’s biographical information furnished to the Company (including any such information included in the Prospectus) is true
and accurate in all respects and does not omit any material information with respect to the Insider’s background. Each Insider’s
questionnaire furnished to the Company is true and accurate in all respects. Each Insider represents and warrants that: it, he or she
is not subject to or a respondent in any legal action for, any injunction, cease-and-desist order or order or stipulation to desist or
refrain from any act or practice relating to the offering of securities in any jurisdiction; it, he or she has never been convicted of,
or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any financial transaction or handling of funds of another person,
or (iii) pertaining to any dealings in any securities and it, he or she is not currently a defendant in any such criminal proceeding.


 


9.
Except as disclosed in the Prospectus, neither the Sponsor nor any Insider nor any affiliate of the Sponsor or any Insider, nor any director
or officer of the Company, shall receive from the Company any find er’s fee, reimbursement or cash payments prior to, or in connection
with any services rendered in order to effectuate the completion of the Company’s initial Business Combination (regardless of the
type of transaction that it is), other than the amounts described in the Prospectus under the heading “Summary – The Offering
– Limited Payments to Insiders.”


 


10.
The Sponsor and each Insider has full right and power, without violating any agreement to which it is bound (including, without limitation,
any non-competition or non-solicitation agreement with any employer or former employer), to enter into this Letter Agreement and, as
applicable, to serve as an officer and/or director on the board of directors of the Company and hereby consents to being named in the
Prospectus as an officer and/or director of the Company.


 


11.
As used herein, (i) “Business Combination” shall mean a merger, share exchange, asset acquisition, stock purchase,
reorganization or similar business combination, involving the Company and one or more businesses; (ii) “Shares”
shall mean, collectively, the Ordinary Shares, Placement Shares, Sponsor Loan Shares and the Founder Shares; (iii) “Founder
Shares” shall mean (a) the 7,503,750 Class B ordinary shares of the Company, par value $0.0001 per share, initially issued
to the Sponsor (up to 978,750 Shares of which are subject to complete or partial surrender by the Sponsor if the over-allotment option
is not exercised by the Underwriters) for an aggregate purchase price of $25,000, or approximately $0.003 per share, prior to the completion
of the Public Offering; (iv) “Initial Holders” shall mean the Sponsor and any Insider that holds Founder Shares;
(v) “Insiders” shall mean the Sponsor and its members, any holders of Founder Shares, any person who receives
Placement Units, Founder Shares or their respective underlying securities as a Permitted Transferee and each officer and director of
the Company; (vi) “Placement Shares” shall mean the Ordinary Shares sold as part of the Placement Units; (vii)
“Placement Warrants” shall mean the Warrants to purchase up to an aggregate of 350,000 Class A Ordinary Shares
that are included in the Placement Units; (viii) “Placement Units” shall mean the aggregate of up to 700,000
Units of the Company (each Placement Unit consists of one-half of a Placement Warrant and one Placement Share) sold in the Private Placement
to the Sponsor for an aggregate purchase price of up to $7,000,000; (ix) “Private Placement” shall mean that
certain private placement transaction occurring simultaneously with the closing of the Public Offering pursuant to which the Company
has agreed to sell an aggregate of up to 700,000 Placement Units to the Sponsor; (x) “Public Shareholders”
shall mean the holders of securities issued in the Public Offering; (xi) “Sponsor Loan” shall mean the loan
the Sponsor will be making to the Company simultaneously with the Public Offering; (xii) “Sponsor Loan Shares”
shall mean the shares underlying the Sponsor Loan Units; (xiii) “Sponsor Loan Units” shall mean an aggregate
of up to 622,300 Units of the Company (each Sponsor Loan Unit consists of one-half of a Sponsor Loan Warrant and one Sponsor Loan Share)
that may be issued to the Sponsor upon conversion of the Sponsor Loan; (xii) “Sponsor Loan Warrants” shall
mean the Warrants to purchase an aggregate of up to 311,150 Ordinary Shares that are included in the Sponsor Loan Units; (xiv) “Trust
Account” shall mean the trust fund into which a portion of the net proceeds of the Public Offering shall be deposited;
(xv) “Transfer” shall mean the (a) sale of, offer to sell, contract or agreement to sell, hypothecate, pledge,
grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase
of a put equivalent position or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16
of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder with respect
to, any security, (b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences
of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or
(c) public announcement of any intention to effect any transaction specified in clause (a) or (b); and (xvi) “Charter”
shall mean the Company’s memorandum and articles of association, as the same may be amended from time to time.


 






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12.
This Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof
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 changed,
amended, modified or waived (other than to correct a typographical error) as to any particular provision, except by a written instrument
executed by all parties hereto.


 


13.
No party hereto may assign either this Letter Agreement or any of its rights, interests, or obligations hereunder without the prior written
consent of the other party. Any purported assignment in violation of this Section shall be void and ineffectual and shall not operate
to transfer or assign any interest or title to the purported assignee. This Letter Agreement shall be binding on the Sponsor and each
Insider and their respective successors, heirs and assigns and permitted transferees.


 


14.
Nothing in this Letter Agreement shall be construed to confer upon, or give to, any person or corporation other than the parties hereto
any right, remedy or claim under or by reason of this Letter Agreement or of any covenant, condition, stipulation, promise or agreement
hereof. All covenants, conditions, stipulations, promises and agreements contained in this Letter Agreement shall be for the sole and
exclusive benefit of the parties hereto and their successors, heirs, personal representatives and assigns and permitted transferees.


 


15.
This Letter Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all
purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.


 


16.
This Letter Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect
the validity or enforceability of this Letter Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid
or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Letter Agreement a provision
as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.


 


17.
This Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving
effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The parties
hereto (i) all agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Letter Agreement shall
be brought and enforced in the courts of New York City, in the State of New York, and irrevocably submit to such jurisdiction and venue,
which jurisdiction a nd venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction and venue or that such courts
represent an inconvenient forum.


 


18.
Any notice, consent or request to be given in connection with any of the terms or provisions of this Letter Agreement shall be in writing
and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery
or facsimile transmission.


 


19.
This Letter Agreement shall terminate on the earlier of (i) the expiration of the Lock-up Periods or (ii) the liquidation of the Company;
provided, however, that this Letter Agreement shall earlier terminate in the event that the Public Offering is not completed and closed
by June 30, 2022; provided further that Section 4 of this Letter Agreement shall survive such liquidation.


 


[Signature
Page Follows]


 




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	 	Sincerely,
	 	 
	 	Enterprise
    4.0 Technology Acquisition Corp.
	 	 	 
	 	By:	/s/
    Eric Benhamou
	 	Name:	Eric Benhamou
	 	Title:	Chief Executive Officer
	 	 	 
	 	/s/
    Christopher Paisley
	 	Name: 	Christopher Paisley
	 	 	 
	 	/s/
    Ron Sege
	 	Name:	Ron Sege
	 	 	 
	 	/s/
    Yashwanth Hemaraj
	 	Name:	Yashwanth Hemaraj
	 	 	 
	 	/s/
    Kim Le
	 	Name:	Kim Le
	 	 	 
	 	/s/
    Sudhakar Ramakrishna
	 	Name:	Sudhakar Ramakrishna
	 	 	 
	 	/s/
    Mona Sabet
	 	Name:	Mona Sabet
	 	 	 
	 	/s/
    Judith Sim
	 	Name:	Judith Sim
	 	 	 
	 	/s/
    Alex Vieux
	 	Name:	Alex Vieux
	 	 	 
	 	/s/
    Steven Fletcher
	 	Name:	Steven Fletcher



 


	 	ENT4.0 Technology Sponsor LLC
	 	 	 
	 	By:	/s/ Steven
    Fletcher
	 	Name:	Steven Fletcher
	 	Title:	Managing Member



 


[Signature
Page to Letter Agreement]