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 September 30, 2021 (this “Agreement”), is made by and between Twelve
Seas Investment Company IV TMT, a Delaware corporation (the “Company”), and Twelve Seas Sponsor IV TMT LLC, a Delaware
limited liability company (the “Subscriber”).


 


WHEREAS, the Company and the Subscriber
have entered into that certain Securities Subscription Agreement, dated as of April 20, 2021 (the “Subscription Agreement”),
pursuant to which the Subscriber subscribed for an aggregate of 8,625,000 shares of Class B common stock, par value $0.0001 per share
of the Company (“Class B Shares”), for an aggregate purchase price of $25,000, and up to 1,125,000 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 2,875,000 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 2,875,000 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 underwriters of the IPO (the “Underwriters”) is not
exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferee of Shares) shall forfeit 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 forfeiture, the Subscriber (and all other initial stockholders prior to the IPO,
if any) will own an aggregate number of Shares (not including shares of Class A common stock, par value $0.0001 per share, of the Company
(“Class A Shares”) issuable upon exercise of any warrants, any Class A Shares issued to the representative of the Underwriters
in connection with the IPO or any securities purchased by Subscriber or the representative of the Underwriters in connection with the
IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock immediately following
the IPO.”


 


		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 New York 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.



 


[Signature page follows]


 






    2


    


    

 


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


 


	 	Twelve Seas Investment Company
    IV TMT
	 	 	 	 
	 	By:	/s/ Alan Mitchell
	 	 	Name: 	Alan Mitchell
	 	 	Title:	President and Chief Investment Officer



 


	Twelve Seas Sponsor IV TMT LLC	 
	 	 	 
	By:	Columbia Communications Advisory, LLC,	 
	 	as Manager	 
	 	 	 
	By:	/s/ Alan Mitchell	 
	 	Name: 	 Alan Mitchell	 
	 	Title:	 Managing Partner	 



 


 


[Signature Page to Surrender of Shares and Amendment No. 1 to the
Securities Subscription Agreement]


 


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