Exhibit 10.3


 


Big
Cypress Acquisition Corp.


300
W. 41st Street, Suite 202


Miami
Beach, FL 33140


 


January
11, 2021


 


Big
Cypress Holdings LLC


300
W. 41st Street, Suite 202


Miami
Beach, FL 33140


 


Re:
Administrative Support Agreement


 


Ladies
and Gentlemen:


 


This
letter agreement by and between Big Cypress Acquisition Corp. (the “Company”) and Big Cypress Holdings LLC (“BCH”),
dated as of the date hereof, will confirm our agreement that, commencing on the date the securities of the Company are first listed
on The Nasdaq Capital Market (the “Listing Date”), pursuant to a Registration Statement on Form S-1 and 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 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)
BCH shall make available, or cause to be made available, to the Company, at 300 W. 41st Street, Suite 202, Miami Beach, FL 33140
(or any successor location of BCH), certain office space, utilities and secretarial and administrative support as may be reasonably
required by the Company. In exchange therefor, the Company shall pay to BCH the sum of $10,000 per month on the Listing Date and
continuing monthly thereafter until the Termination Date; and


 


(ii)
BCH 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”) as a result
of, or arising out of, this letter agreement, 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,
	 	 
	 	BIG
    CYPRESS ACQUISITION CORP.
	 	 	 
	 	By:	/s/
    Samuel Reich
	 	Name:	Samuel
    Reich 
	 	Title:	Chief
    Executive Officer


 


AGREED
TO AND ACCEPTED BY:


 


BIG
CYPRESS HOLDINGS LLC


 


	By:	/s/
    Ilan Katz	 
	Name:	Ilan
    Katz 	 
	Title:	Managing
    Member	 


 


[Signature
Page to Administrative Support Agreement]