Exhibit 10.1


 


October 20, 2021


 


Global Technology Acquisition Corp. I


19 West 24th Street, 10th Floor


New York, NY 10010


 


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”) entered
into by and among Global Technology Acquisition Corp. I, a Cayman Islands exempted company (the “Company”) and
Citi Global Markets Inc. and Goldman Sachs & Co. LLC, as underwriters (the “Underwriters”), relating to
an underwritten initial public offering (the “Public Offering”) of up to 20,125,000 of the Company’s units
(including 2,625,000 units that may be purchased pursuant to the Underwriter’s option to purchase additional units, the “Units”),
each comprising of one of the Company’s Class A ordinary shares, par value $0.0001 per share (the “Ordinary Shares”),
and a fraction of one redeemable warrant (each whole warrant, a “Warrant”). Each whole Warrant entitles the
holder thereof to purchase one Ordinary Share at a price of $11.50 per share, subject to adjustment. The Units will be sold in the Public
Offering pursuant to a registration statement on Form S-1 and a prospectus (the “Prospectus”) filed by the Company
with the U.S. Securities and Exchange Commission (the “Commission”). Certain capitalized terms used herein are
defined in paragraph 1 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, Global Technology Acquisition I Sponsor LP (the “Sponsor”) and each of the
undersigned individuals, each of whom is a member of the Company’s board of directors, a nominee for membership on the Company’s
board of directors and/or a member of the Company’s management team (each, an “Insider” and, collectively,
the “Insiders”) hereby agree, severally but not jointly, with the Company as follows:


 






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		1.	Definitions. As used herein, (i) “Business Combination” shall mean a merger, share exchange,
                                                          asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities; (ii)
                                                          “Founder Shares” shall mean the 5,031,250 Class B ordinary shares of the Company, par value $0.0001 per
                                                          share, outstanding prior to the consummation of the Public Offering; (iii) “Private Placement Warrants”
                                                          shall mean the warrants to purchase Ordinary Shares of the Company that will be acquired by the Sponsor for an aggregate purchase
                                                          price of $9,500,000 (or up to $10,550,000 if the Underwriter’s exercise their option to purchase additional units), or $1.00
                                                          per Warrant, in a private placement that shall close simultaneously with the consummation of the Public Offering (including Ordinary
                                                          Shares issuable upon conversion thereof); (iv) “Public Shareholders” shall mean the holders of Ordinary
                                                          Shares included in the Units issued in the Public Offering; (v) “Public Shares” shall mean the Ordinary
                                                          Shares included in the Units issued in the Public Offering; (vi) “Trust Account” shall mean the trust
                                                          account into which a portion of the net proceeds of the Public Offering and the sale of the Private Placement Warrants shall be
                                                          deposited; (vii) “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 (viii) “Charter” shall mean the Company’s Amended and Restated
                                                          Memorandum and Articles of Association, as the same may be amended from time to time.



 


		2.	Representations and Warranties.



 


		(a)	The Sponsor and each Insider, with respect to itself, herself or himself, represent and warrant to the Company that it, she or he
has the full right and power, without violating any agreement to which it, she or he is bound (including, without limitation, any non-competition
or non-solicitation agreement with any employer or former employer), to enter into this Letter Agreement, as applicable, and to serve
as an officer of the Company and/or a director on the Company’s Board of Directors (the “Board”), as applicable,
and each Insider hereby consents to being named in the Prospectus, road show and any other materials as an officer and/or director of
the Company, as applicable.



 


		(b)	Each Insider represents and warrants, with respect to herself or himself, that such Insider’s biographical information furnished
to the Company (including any such information included in the Prospectus) is true and accurate in all material respects and does not
omit any material information with respect to such Insider’s background. The Insider’s questionnaire furnished to the Company
is true and accurate in all material respects. Each Insider represents and warrants that such Insider 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; such Insider 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 such Insider is not currently a defendant in any such criminal proceeding; and such Insider 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.



 






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		3.	Business Combination Vote. It is acknowledged and agreed that the Company shall not enter into a definitive agreement regarding
a proposed Business Combination without the prior consent of the Sponsor. The Sponsor and each Insider, with respect to itself or herself
or himself, agrees that if the Company seeks shareholder approval of a proposed initial Business Combination, then in connection with
such proposed initial Business Combination, it, she or he, as applicable, shall vote all Founder Shares and any Public Shares held by
it, her or him, as applicable, in favor of such proposed initial Business Combination (including any proposals recommended by the Board
in connection with such Business Combination) and not redeem any Public Shares held by it, her or him, as applicable, in connection with
such shareholder approval.



 


		4.	Failure to Consummate a Business Combination; Trust Account Waiver.



 


		(a)	The Sponsor and each Insider hereby agree, with respect to itself, herself or himself, that in the event that the Company fails to
consummate its initial 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, redeem 100% of the Public 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 taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of
then outstanding Public Shares, which redemption will completely extinguish Public Shareholders’ rights as shareholders (including
the right to receive further liquidation distributions, if any); and (iii) as promptly as reasonably possible following such redemption,
subject to the approval of the Company’s remaining shareholders and the Board, liquidate and dissolve, subject in the case of clauses
(ii) and (iii) to the Company’s obligations under Cayman Islands law to provide for claims of creditors and in all cases subject
to the other requirements of applicable law. The Sponsor and each Insider agree not to propose any amendment to the Charter (i) that would
modify the substance or timing of the Company’s obligation to provide holders of the Public Shares the right to have their shares
redeemed in connection with an initial Business Combination or to redeem 100% of the Public Shares if the Company does not complete an
initial Business Combination within the required time period set forth in the Charter or (ii) with respect to any provision relating to
the rights of holders of Public Shares unless the Company provides its Public Shareholders with the opportunity to redeem their Public
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 taxes,
if any, divided by the number of then-outstanding Public Shares.



 






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		(b)	The Sponsor and each Insider, with respect to itself, herself or himself, acknowledges that it, she or he 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, her or him, if any. The Sponsor and each of the Insiders hereby further waive, with respect to any Founder
Shares and Public Shares held by it, her or him, as applicable, any redemption rights it, she or he may have in connection with the consummation
of a Business Combination, including, without limitation, any such rights available in the context of a shareholder vote to approve such
Business Combination or a shareholder vote to approve an amendment to the Charter (i) that would modify the substance or timing of the
Company’s obligation to provide holders of the Public Shares the right to have their shares redeemed in connection with an initial
Business Combination or to redeem 100% of the Public Shares if the Company has not consummated an initial Business Combination within
the time period set forth in the Charter or (ii) with respect to any provision relating to the rights of holders of Public Shares (although
the Sponsor and the Insiders shall be entitled to liquidation rights with respect to any Public Shares they hold if the Company fails
to consummate a Business Combination within the required time period set forth in the Charter).



 


		5.	Lock-up; Transfer Restrictions.



 


		(a)	The Sponsor and the Insiders agree that they shall not Transfer any Founder Shares (the “Founder Shares Lock-up”)
until the earliest of (A) one year after the completion of an initial Business Combination and (B) the date following the completion of
an initial Business Combination on which the Company completes a liquidation, merger, share exchange 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”). Notwithstanding the foregoing, if, subsequent to a Business Combination,
the closing price of the Ordinary Shares equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share capitalizations,
share consolidations, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period commencing
at least 150 days after the Company’s initial Business Combination, the Founder Shares shall be released from the Founder Shares
Lock-up.



 


		(b)	The Sponsor and Insiders agree that they shall not effectuate any Transfer of Private Placement Warrants or Ordinary Shares underlying
such warrants until 30 days after the completion of an initial Business Combination.



 






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		(c)	Notwithstanding the provisions set forth in paragraphs 5(a) and (b), Transfers of the Founder Shares, Private Placement
Warrants and Ordinary Shares underlying the Private Placement Warrants are permitted (a) to the Company’s officers or directors,
any affiliates or family members of any of the Company’s officers or directors, any members of the Sponsor, or any affiliates of
the Sponsor or the Sponsor’s members; (b) in the case of an individual, by gift to a member of one of the individual’s immediate
family or to a trust, the beneficiary of which is a member of the individual’s immediate family, an affiliate of such person or
to a charitable organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon death of the individual; (d)
in the case of an individual, pursuant to a qualified domestic relations order; (e) by private sales or transfers made in connection with
the consummation of a Business Combination at prices no greater than the price at which the Founder Shares, Private Placement Warrants
or Ordinary Shares, as applicable, were originally purchased; (f) by virtue of the Sponsor’s organizational documents upon liquidation
or dissolution of the Sponsor; (g) to the Company for no value for cancellation in connection with the consummation of an initial Business
Combination, (h) in the event of the Company’s liquidation prior to the completion of a Business Combination; or (i) in the event
of completion of a liquidation, merger, share exchange or other similar transaction which results in all of the Company’s Public
Shareholders having the right to exchange their Ordinary Shares for cash, securities or other property subsequent to the completion of
an initial Business Combination; provided, however, that in the case of clauses (a) through (f) these permitted transferees
must enter into a written agreement agreeing to be bound by these transfer restrictions.



 


		(d)	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 Underwriter, Transfer any Units, Ordinary Shares, Warrants or any
other securities convertible into, or exercisable or exchangeable for, Ordinary Shares held by it, her or him, as applicable, subject
to certain exceptions enumerated in Section 6(h) of the Underwriting Agreement.



 


		6.	Remedies. The Sponsor and each of the Insiders hereby agree and acknowledge that (i) the Underwriters and the Company would
be irreparably injured in the event of a breach by the Sponsor or such Insider of its, her or his obligations, as applicable under paragraphs
3, 4, 5, 7, 10 and 11, (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.	Payments by the Company. Except as disclosed in the Prospectus, neither the Sponsor nor any affiliate of the Sponsor nor any
director or officer of the Company nor any affiliate of the officers shall receive from the Company any finder’s fee, reimbursement,
consulting fee, monies in respect of any payment of a loan or other compensation prior to, or in connection with any services rendered
in order to effectuate the consummation of the Company’s initial Business Combination (regardless of the type of transaction that
it is).



 


		8.	Director and Officer Liability Insurance. The Company will maintain an insurance policy or policies providing directors’
and officers’ liability insurance, and the Insiders shall be covered by such policy or policies, in accordance with its or their
terms, to the maximum extent of the coverage available for any of the Company’s directors or officers.



 


		9.	Termination. This Letter Agreement shall terminate on the earlier of (i) the expiration of the Founder Shares Lock-up Period
and (ii) the liquidation of the Company.



 






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		10.	Indemnification. In the event of the liquidation of the Trust Account upon the failure of the Company to consummate its initial
Business Combination within the time period set forth in the Charter, the Sponsor (the “Indemnitor”) 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) 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 (except for the Company’s independent auditors) or (ii) any prospective target business with which
the Company has discussed entering into a transaction agreement (a “Target”); provided, however,
that such indemnification of the Company by the Indemnitor (x) 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 the lesser of (i) $10.00 per Public Share and (ii) the actual amount per Public Share held in the Trust Account as of the date
of the liquidation of the Trust Account if less than $10.00 per Public Share due to reductions in the value of the trust assets, in each
case net of interest that may be withdrawn to pay the Company’s tax obligations, (y) shall not apply to any claims by a third party
or Target who executed a waiver of any and all rights to the monies held in the Trust Account (whether or not such waiver is enforceable)
and (z) shall not apply to any claims under the Company’s indemnity of the Underwriter against certain liabilities, including liabilities
under the Securities Act of 1933, as amended. The Indemnitor shall have the right to defend against any such claim with counsel of its
choice reasonably satisfactory to the Company if, within 15 days following written receipt of notice of the claim to the Indemnitor, the
Indemnitor notifies the Company in writing that it shall undertake such defense.



 


		11.	Forfeiture of Founder Shares. To the extent that the Underwriters do not exercise their option to additional Units within 45
days from the date of the Prospectus in full (as further described in the Prospectus), the Sponsor agrees to automatically surrender to
the Company for no consideration, for cancellation at no cost, an aggregate number of Founder Shares so that the number of Founder Shares
will equal of 20% of the sum of the total number of Ordinary Shares and Founder Shares outstanding at such time. The Sponsor and Insiders
further agree that to the extent that the size of the Public Offering is increased or decreased, the Company will effect a share capitalization
or a share repurchase, as applicable, with respect to the Founder Shares immediately prior to the consummation of the Public Offering
in such amount as to maintain the number of Founder Shares at 20% of the sum of the total number of Ordinary Shares and Founder Shares
outstanding at such time.



 


		12.	Entire Agreement. 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 (i) each Insider that is the subject of any such change, amendment, modification or waiver, (ii)
the Company and (iii) the Sponsor.



 






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		13.	Assignment. 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 parties. 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 shall be binding on
the Sponsor, each of the Insiders and each of their respective successors, heirs, personal representatives and assigns and permitted transferees.



 


		14.	Counterparts. 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.



 


		15.	Effect of Headings. The paragraph headings herein are for convenience only and are not part of this Letter Agreement and shall
not affect the interpretation thereof.



 


		16.	Severability. 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.	Governing Law. 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 and venue shall be exclusive, and (ii) waive any objection to such exclusive jurisdiction
and venue or that such courts represent an inconvenient forum.



 


		18.	Notices. 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.



 


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	 	Sincerely,
	 	 
	 	GLOBAL TECHNOLOGY ACQUISITION I SPONSOR LP
	 	 
		By:	/s/ Arnau Porto Dolc
	 	Name: 	Arnau Porto Dolc
		Title:	Director



 


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Acknowledged and Agreed:


 


GLOBAL TECHNOLOGY ACQUISITION CORP. I


 


	By:	/s/ Claudia Gast	 
	 	Name: Claudia Gast	 
	 	Title: Chief Financial Officer	 






 


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Acknowledged and Agreed:


 


	By:	/s/ Arnau Porto Dolc	 
	 	Name: Arnau Porto Dolc	 
	 	Title: Chief Executive Officer, Global Technology Acquisition Corp. I	 






 


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Acknowledged and Agreed:


 


	By:	/s/ Fabrice Grinda	 
	 	Name: Fabrice Grinda	 
	 	Title: Executive Chairman, Global Technology Acquisition Corp. I	 






 


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Acknowledged and Agreed:


 


	By:	/s/ Claudia Gast	 
	 	Name: Claudia Gast	 
	 	Title: Chief Financial Officer, Global Technology Acquisition Corp. I	 






 


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	Acknowledged and Agreed:	 
	 	 
	By:	/s/ Robert Perdue	 
	 	Name: Robert Perdue	 
	 	Title: Board Member, Global Technology Acquisition Corp. I	 






 


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	Acknowledged and Agreed:	 
	 	 
	By:	/s/ Gabriel Silva	 
	 	Name: Gabriel Silva	 
	 	Title: Board Member, Global Technology Acquisition Corp. I	 


 


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	Acknowledged and Agreed:	 
	 	 
	By:	/s/ Michael Zeisser	 
	 	Name: Michael Zeisser	 
	 	Title: Board Member, Global Technology Acquisition Corp. I	 


 


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	Acknowledged and Agreed:	 
	 	 
	By:	/s/ Juan Villalonga	 
	 	Name: Juan Villalonga	 
	 	Title: Board Member, Global Technology Acquisition Corp. I	 


 


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	Acknowledged and Agreed:	 
	 	 
	By:	/s/ Jeff Weinstein	 
	 	Name: Jeff Weinstein	 
	 	Title: Chief Strategy Officer, Global Technology Acquisition Corp. I	 


 


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	Acknowledged and Agreed:	 
	 	 
	CITIGROUP GLOBAL MARKETS INC.	 
	 	 
	By:	/s/ Alberto Pandolfi	 
	 	Name: Alberto Pandolfi	 
	 	Title: Managing Director	 


 


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	Acknowledged and Agreed:	 
	 	 
	GOLDMAN SACHS & CO. LLC	 
	 	 
	By:	/s/ Lyle Schwartz	 
	 	Name: Lyle Schwartz	 
	 	Title: Managing Director	 


 


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