Exhibit
10.4


 


Letter
Agreement


 


January 7, 2021


 


Global
Synergy Acquisition Corp.


540
Madison Avenue, 17th Floor


New
York, NY 10022


 


	 	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 Synergy Acquisition Corp., a Cayman
Islands exempted company (the “Company”), Credit Suisse Securities (USA) LLC and J.P. Morgan Securities
LLC, as representatives (the “Representatives”) of the several underwriters named therein (the “Underwriters”),
relating to an underwritten initial public offering (the “Public Offering”) of 25,875,000 of the Company’s
units (including 3,375,000 units that may be purchased pursuant to the Underwriters’ 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 one-half of one redeemable warrant (each whole warrant, a “Warrant”).
Each Warrant entitles the holder thereof to purchase one Ordinary Share at a price of $11.50 per share, subject to adjustment,
terms and limitations as described in the Prospectus (as defined below). The Units will be sold in the Public Offering pursuant
to a registration statement on Form S-l 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 Synergy LLC
(the “Sponsor”) and each of the undersigned (each, an “Insider” and, collectively,
the “Insiders”) hereby agree with the Company as follows:


 


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 6,468,750 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 $7,600,000 (with or without the exercise of the Underwriters’ 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) “Working
Capital Warrants” shall mean the warrants that may be issued in connection with financing the Company’s
transaction costs in connection with the Business Combination; (v) “Extension Warrants” shall mean
the warrants that may be issued in connection with an extension of the period of time the Company has to consummate a
Business Combination as set forth in the Articles (as defined below); (vi) “Public Shareholders”
shall mean the holders of Ordinary Shares included in the Units issued in the Public Offering; (vii) “Public
Shares” shall mean the Ordinary Shares included in the Units issued in the Public Offering; (viii)
“Trust Account” shall mean the trust account into which the net proceeds of the Public Offering and
certain proceeds from 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 (ix) “Articles” 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 Sponsor and each Insider’s questionnaire
furnished to the Company is true and accurate in all material 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 such Insider is not currently a defendant in any such criminal
proceeding; and 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.


 


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, including any extension, set forth in the Articles, 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 its income 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 each case 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 Articles (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 Articles, including any extension, or (ii) with respect to any other 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 Articles (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
Articles or (ii) with respect to any other 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 Articles). The Sponsor and each Insider acknowledge and agree, with respect to itself, herself or himself, that there will be no distribution from
the Trust Account with respect to any warrants, all rights of which will terminate on the Company’s liquidation.


 


(c)
Each of the undersigned acknowledges and agrees that prior to entering into a definitive agreement for a Business Combination with a target
business that is affiliated with the undersigned or any other Insiders of the Company or their respective affiliates, the Company
must obtain an opinion from an independent investment banking firm or an independent accounting firm that such Business Combination
is fair to the Company from a financial point of view.


 


5.
Lock-up; Transfer Restrictions.


 


(a)
The Sponsor and each Insider agree that it, she or he 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) subsequent to an initial Business
Combination, (x) if the closing price of the Ordinary Shares equals or exceeds $12.00 per share (as adjusted for share subdivisions,
share capitalizations, share consolidations, 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 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)
The Sponsor and each Insider agree that it, he or she shall not effectuate any Transfer of Private Placement Warrants, Working Capital Warrants or Extension Warrants or Ordinary
Shares underlying such warrants until 30 days after the completion of an initial Business Combination.


 


(c)
Notwithstanding the provisions set forth in paragraphs 5(a) and (b), Transfers of the Founder Shares, Private
Placement Warrants, Working Capital Warrants and Extension Warrants, and Ordinary Shares underlying the Private Placement
Warrants, Working Capital Warrants and Extension Warrants are permitted (a) to the Company’s officers or directors, any affiliate or family member of any of the
Company’s officers or directors, any members or partners of the Sponsor or their affiliates, any affiliates of the
Sponsor, or any employees of such affiliates; (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, Working Capital Warrants and
Extension 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) and (h) 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 Representatives, 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 4(h) of the Underwriting Agreement.


 






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6.
Remedies. The Sponsor and each of the Insiders hereby agree and acknowledge that (i) each of 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 directors and 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 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.


 


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 Articles, 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 Underwriters 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 purchase 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, on an as converted basis, an aggregate 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 surrender or redemption
or other appropriate mechanism, 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, on an as-converted basis, 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 all parties hereto.


 






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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, facsimile or other electronic 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. In the event that any signature is delivered by facsimile transmission or by e-mail delivery
of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party executing (or
on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature
page were an original thereof.


 


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 or 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 or other electronic transmission.


 


[Signature
Page Follows]


 






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	 	Sincerely,
	 	GLOBAL
    SYNERGY LLC
	 	 	 
	 	By:	 /s/
    Jaideep Puri
	 	 	Name:	Jaideep
    Puri
	 	 	Title:	Manager


 


[Signature
Page to Letter Agreement]


 



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	 	By:	/s/ Alok
    Oberoi
	 	 	Name:	Alok
    Oberoi
	 	 	Title:	President
    and Co-CEO


 


[Signature
Page to Letter Agreement]


 



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	 	By:	/s/ Suresh
    Vaswani
	 	 	Name:	Suresh
    Vaswani
	 	 	Title:	Director
    and Co-CEO


 


[Signature
Page to Letter Agreement]


 






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	 	By:	 /s/ Hank Uberoi
	 	 	Name:	Hank
    Uberoi
	 	 	Title:	Chairman
    of the Board


 


[Signature
Page to Letter Agreement]


 






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	 	By:	/s/ Murtaza Moochhala
	 	 	Name:	Murtaza
    Moochhala
	 	 	Title:	COO
    and CFO


 


[Signature
Page to Letter Agreement]


 






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	 	By:	/s/ Brooks Entwistle
	 	 	Name:	Brooks
    Entwistle
	 	 	Title:	Director


 


[Signature
Page to Letter Agreement]


 






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	 	By:	/s/ Kirk Wagar
	 	 	Name:	Kirk
    Wagar
	 	 	Title:	Director


 


[Signature
Page to Letter Agreement]


 






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	 	By:	/s/ Ben Druskin
	 	 	Name:	Ben
    Druskin
	 	 	Title:	Director


 


[Signature
Page to Letter Agreement]


 



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Acknowledged
and Agreed:


GLOBAL
SYNERGY ACQUISITION CORP. 


 


	By:	/s/ Alok Oberoi	 
	 	Name:	Alok
    Oberoi	 
	 	Title:	President
    and Co-CEO	 


 


[Signature
Page to Letter Agreement]


 


 


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