EX-10.10





 Exhibit 10.10 

Surrender of Shares and 

Amendment No. 1 to the 

Securities Subscription Agreement 
 This
Surrender of Shares and Amendment No. 1 to the Securities Subscription Agreement, dated July 16, 2021 (this “Agreement”), is made by and between Swiftmerge Acquisition Corp., a Cayman Islands exempted company (the
“Company”), and Swiftmerge Holdings, LP, a Delaware limited partnership (the “Subscriber”). 
 WHEREAS, the Company
and the Subscriber have entered into that certain Securities Subscription Agreement, dated as of February 5, 2021 (the “Subscription Agreement”), pursuant to which the Subscriber subscribed for an aggregate of 7,187,500
Class B ordinary shares, par value $0.0001 per share of the Company (“Class B Shares”), for an aggregate purchase price of $25,000, and up to 937,500 of such Class B Shares are subject to complete or
partial forfeiture by the Subscriber if the underwriters of the Company’s initial public offering (the “IPO”) do not fully exercise their over-allotment option as described therein; 

WHEREAS, the Subscriber desires to surrender for no consideration 1,437,500 Class B Shares, resulting in an aggregate of 5,750,000 Class B
shares outstanding, up to 750,000 of which are intended to be subject to complete or partial forfeiture by the Subscriber if the underwriters of the Company’s IPO do not fully exercise their over-allotment option as described in the
Subscription Agreement; 
 WHEREAS, as a result of such surrender, the per-share purchase price
will increase from approximately $0.003 per share to $0.004 per share; and 
 WHEREAS, the Company and the Subscriber desire to amend the
Subscription Agreement to modify the number of Class B Shares subject to forfeiture in connection with the IPO and the Subscriber desires to provide an irrevocable notice of surrender of certain Class B Shares to the Company. 

NOW, THEREFORE, in consideration of the mutual conditions and agreements set forth in this Agreement, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
  

	 	1.	 Surrender of Shares. 



 

	 	(a)	 The Subscriber hereby irrevocably surrenders to the Company for no consideration 1,437,500 Class B Shares.



  

	 	(b)	 The Subscriber confirms that the Company has not, as at the date of this letter, issued any share certificates
to it. 


  

	 	2.	 Amendment to Subscription Agreement. Section 3.1 of the Subscription Agreement is hereby deleted in
its entirety and replaced with a new Section 3.1 to read as follows: 


 “3.1. Partial or No Exercise of
the Over-allotment Option. In the event the Over-allotment Option granted to the representative(s) of the underwriter(s) of the Company’s IPO is not exercised in full, the Subscriber acknowledges and agrees that it shall surrender for
cancellation any and all rights to such number of Shares (up to an aggregate of 750,000 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such surrender, the Subscriber (and all
other initial shareholders prior to the IPO, if any) will own an aggregate number of Shares (not including ordinary shares issuable upon exercise of any warrants or any ordinary shares purchased by Subscriber in the Company’s IPO or in the
aftermarket) equal to 20% of the issued and outstanding ordinary shares of the Company immediately following the IPO, plus, if applicable, the number of Shares to be sold pursuant to any forward purchase agreement.” 

 

	 	3.	 Agreement Remains Effective. Except as modified herein or amended hereby, the terms and conditions
contained in the Subscription Agreement shall continue in full force and effect. 















	 	4.	 Governing Law. This Agreement and the rights and obligations of the parties hereunder shall be construed
in accordance with and governed by the laws of Delaware applicable to contracts wholly performed within the borders of such state, without giving effect to the conflict of law principles thereof. 



 

	 	5.	 Headings and Captions. The headings and captions of the various subdivisions of this Agreement are for
convenience of reference only and shall in no way modify or affect the meaning or construction of any of the terms or provisions hereof. 


  

	 	6.	 Counterparts. This Agreement may be executed in one or more counterparts, all of which when taken
together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign the same counterpart. In the
event that any signature is delivered by facsimile transmission or any other form of electronic delivery, 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 signature page were an original thereof. 



  
 2 













 IN WITNESS WHEREOF, the undersigned have caused this Agreement to be executed as of the date first
written above. 
  

			
	SWIFTMERGE ACQUISITION CORP.
		
	By:	 	 /s/ John Bremner

	Name:	 	John Bremner
	Title:	 	Chief Executive Officer


 SWIFTMERGE HOLDINGS, LP 

By: SWIFTMERGE HOLDINGS GP, LLC, 
 its general partner 

 

			
	 By:
	 	 /s/ John Bremner

	 Name:
	 	John Bremner
	 Title:
	 	President

 [Signature Page to Surrender of Shares and 

Amendment No. 1 to the Securities Subscription Agreement]