Exhibit
10.3


 


JAWS
JUGGERNAUT ACQUISITION CORPORATION

1601 Washington Avenue, Suite 800,

Miami Beach, FL 33139


June
17, 2021


Juggernaut
Sponsor LLC

1601 Washington Avenue, Suite 800

Miami Beach, FL 33139


Ladies
and Gentlemen:


This
letter will confirm our agreement that, commencing on the effective date (the “Effective Date”) of the registration
statement (the “Registration Statement”) for the initial public offering (the “IPO”)
of the securities of Jaws Juggernaut Acquisition Corporation (the “Company”) and continuing until the earlier
of (i) the consummation by the Company of an initial business combination and (ii) the Company’s liquidation (in each
case as described in the Registration Statement) (such earlier date hereinafter referred to as the “Termination Date”),
Juggernaut Sponsor LLC (the “Sponsor”) shall take steps directly or indirectly to make available to the Company
certain office space, secretarial and administrative services as may be required by the Company from time to time, situated at 1601 Washington
Avenue, Suite 800, Miami Beach, FL 33139 (or any successor location). In exchange therefore, the Company shall pay Juggernaut Sponsor
LLC a sum of $10,000 per month on the Effective Date and continuing monthly thereafter until the Termination Date. Juggernaut Sponsor
LLC hereby agrees that it does not have any right, title, interest or claim of any kind (a “Claim”) in or to
any monies that may be set aside in a trust account (the “Trust Account”) that may be established upon the
consummation of the IPO and hereby irrevocably waives any Claim it may have in the future as a result of, or arising out of, any negotiations,
contracts or agreements with the Company and will not seek recourse against 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.


The
parties may not assign this letter agreement and any of their rights, interests, or obligations hereunder without the consent of the
other party.


This
letter agreement 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 that will apply the laws of another jurisdiction.


This
letter agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all
of which together shall constitute one and the same agreement. Only one such counterpart signed by the party against whom enforceability
is sought needs to be produced to evidence the existence of this letter agreement.


[Signature
Page Follows]






     


     


    
 


	 	Very truly yours,
	 	 	 
	 	JAWS JUGGERNAUT ACQUISITION CORPORATION
	 	 	 
	 	By:	/s/
    Michael Racich
	 	Name:	Michael
    Racich
	 	Title:	Chief
    Financial Officer



 


	AGREED TO AND ACCEPTED BY:	 
	 	 	 
	JUGGERNAUT SPONSOR LLC	 
	 	 	 
	By:	/s/
    Paul E. Jacobs, Ph.D.	 
	Name:	Paul
    E. Jacobs, Ph.D.	 
	Title:	Chief
    Executive Officer	 






 


[Signature Page to Administrative
Services Agreement]