EX-10.4





 Exhibit 10.4 

OPY Acquisition Corp. I 

85 Broad Street 
 New
York, New York 10004 
 October 26, 2021 

OPY Acquisition LLC I 
 85 Broad Street 

New York, New York 10004 
  

	 	Re:	 Administrative Services Agreement 



Ladies and Gentlemen: 
 This letter agreement by and between OPY
Acquisition Corp. I (the “Company”) and OPY Acquisition LLC I (“Provider”), dated as of the date hereof, will confirm our agreement that, commencing on the effective date (the “Effective Date”) of
the Registration Statement on Form S-1 filed with the U.S. Securities and Exchange Commission (the “Registration Statement”) for the Company’s initial public offering and continuing
until the earlier of the consummation by the Company of an initial business combination 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.	 Provider shall make available, or cause to be made available, to the Company, at 85 Broad Street, New York, NY
10004 (or any successor location of Provider), certain office space and administrative support services as may be reasonably required by the Company. In exchange therefor, the Company shall pay Provider the sum of $10,000 per month on the Effective
Date and continuing monthly thereafter until the Termination Date; and 


  

	 	ii.	 Provider 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 (each, a “Claim”) in or to, and any and all right to seek payment of any amounts due to it 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 all 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. 

  
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 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
laws principles. 
 This letter agreement may be executed in one or more counterparts. 












 
			
	Very truly yours,
	
	OPY ACQUISITION CORP. I
		
	By:	 	 /s/ Jonathan Siegel

	Name:	 	 Jonathan Siegel

	Title:	 	 Chief Executive Officer




 

			
	AGREED TO AND ACCEPTED BY:
	
	OPY ACQUISITION LLC I
	by its manager, Oppenheimer Alternative Investment Management, LLC
		
	By:	 	 /s/ Robert S. Lowenthal

	Name:	 	Robert S. Lowenthal
	Title:	 	Senior Vice President

 [Signature Page to Administrative Services Agreement]