Document:

Exhibit 10.4

 

Clarim Acquisition Corp.

245 Fifth Avenue, Suite 1500

New York, NY 10016

 

January 28, 2021

 

Clarim Holdings, LLC

245 Fifth Avenue, Suite 1500

New York, NY 10016

 

	 	Re: Administrative Support Agreement

 

Ladies and Gentlemen:

 

This letter agreement by and between Clarim
Acquisition Corp. (the “Company”) and Clarim Holdings, LLC (“Clarim Holdings”), dated as of the date hereof,
will confirm our agreement that, commencing on the date the Registration Statement on Form S-1 and prospectus filed with the U.S.
Securities and Exchange Commission (File No. 333-252086) (the “Registration Statement”) is declared effective (the “Effective
Date”), 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) Clarim Holdings shall make available,
or cause to be made available, to the Company, at 245 Fifth Avenue, Suite 1500, New York, NY 10016 (or any successor location of
Clarim Holdings), 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 Clarim Holdings the sum of $10,000 per month on the Effective Date and
continuing monthly thereafter until the Termination Date; and

 

(ii) Clarim Holdings 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,
	 	 
	 	CLARIM ACQUISITION CORP.
	 	 	 
	 	By:	/s/ James F. McCann
	 	 	Name:	James F. McCann
	 	 	Title:	Chief Executive Officer

 

AGREED TO AND ACCEPTED BY:

 

CLARIM HOLDINGS, LLC

 

	By:	/s/ James F. McCann	 
	 	Name:	James F. McCann	 
	 	Title:	Managing Member	 

 

 

[Signature Page to Administrative Support
Agreement]Exhibit 10.5

 

PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT

 

THIS PRIVATE PLACEMENT WARRANTS PURCHASE
AGREEMENT, dated as of January 28, 2021 (as it may from time to time be amended, this “Agreement”), is entered
into by and between Clarim Acquisition Corp., a Delaware corporation (the “Company”), and Clarim Partners, LLC,
a Delaware limited liability company (the “Purchaser”).

 

WHEREAS, the Company intends to consummate
a public offering of the Company’s units (the “Public Offering”), each unit consisting of one share of
the Company’s Class A common stock, par value $0.0001 per share (a “Share”), and one-third of one redeemable
warrant, each whole warrant exercisable for one Share at an exercise price of $11.50 per Share, as set forth in the Company’s
registration statement on Form S-1 related to the Public Offering (the “Registration Statement”); and

 

WHEREAS, the Purchaser has agreed to purchase
from the Company an aggregate of 4,666,667 warrants (or up to 5,166,667 warrants if the over-allotment option in connection with
the Public Offering is exercised in full) (the “Sponsor Warrants”), each Sponsor Warrant entitling the holder
to purchase one Share at an exercise price of $11.50 per Share.

 

NOW THEREFORE, in consideration of the mutual
promises contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties to this Agreement hereby, intending legally to be bound, agree as follows:

 

AGREEMENT

 

Section 1. Authorization, Purchase and Sale; Terms of the
Sponsor Warrants.

 

A. Authorization of the Sponsor Warrants.
The Company has duly authorized the issuance and sale of the Sponsor Warrants to the Purchaser.

 

B. Purchase and Sale of the Sponsor Warrants.

 

(i) As payment in full for the 4,666,667
Sponsor Warrants being purchased under this Agreement, Purchaser shall pay $7,000,000 (the “Purchase Price”),
by wire transfer of immediately available funds or by such other method as may be reasonably acceptable to the Company, to the
trust account (the “Trust Account”) at a financial institution to be chosen by the Company, maintained by Continental
Stock Transfer & Trust Company, acting as trustee, at least one (1) business day prior to the date of effectiveness of the
Registration Statement.

 

(ii) In the event that the over-allotment
option is exercised in full or in part, Purchaser shall purchase up to an additional 500,000 Sponsor Warrants (the “Additional
Sponsor Warrants”), in the same proportion as the amount of the over-allotment option that is exercised, and simultaneously
with such purchase of Additional Sponsor Warrants, as payment in full for the Additional Sponsor Warrants being purchased hereunder,
and at least one (1) business day prior to the closing of all or any portion of the over-allotment option, Purchaser shall pay
$1.50 per Additional Sponsor Warrant, up to an aggregate amount of $750,000, by wire transfer of immediately available funds or
by such other method as may be reasonably acceptable to the Company, to the Trust Account.

 

(iii) The closing of the purchase and sale
of the Sponsor Warrants shall take place simultaneously with the closing of the Public Offering (the “Initial Closing
Date”). The closing of the purchase and sale of the Additional Sponsor Warrants, if applicable, shall take place simultaneously
with the closing of all or any portion of the over-allotment option (such closing date, together with the Initial Closing Date,
the “Closing Dates” and each, a “Closing Date”). The closing of the purchase and sale of
each of the Sponsor Warrants and the Additional Sponsor Warrants shall take place at the offices of Ellenoff Grossman & Schole
LLP, 1345 Avenue of the Americas, New York, New York 10105, or such other place as may be agreed upon by the parties hereto.

 

     

     

    

 

C. Terms of the Sponsor Warrants.

 

(i) The Sponsor Warrants shall have their
terms set forth in a Warrant Agreement to be entered into by the Company and a warrant agent, in connection with the Public Offering
(a “Warrant Agreement”).

 

(ii) At or prior to the time of the Initial
Closing Date, the Company and the Purchaser shall enter into a registration rights agreement (the “Registration Rights
Agreement”) pursuant to which the Company will grant certain registration rights to the Purchaser relating to the Sponsor
Warrants and the Shares underlying the Sponsor Warrants.

 

Section 2. Representations and Warranties of the Company.
As a material inducement to the Purchaser to enter into this Agreement and purchase the Sponsor Warrants, the Company hereby represents
and warrants to the Purchaser (which representations and warranties shall survive the Closing Dates) that:

 

A. Organization and Corporate Power.
The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and
is qualified to do business in every jurisdiction in which the failure to so qualify would reasonably be expected to have a material
adverse effect on the financial condition, operating results or assets of the Company. The Company possesses all requisite corporate
power and authority necessary to carry out the transactions contemplated by this Agreement and the Warrant Agreement.

 

B. Authorization; No Breach.

 

(i) The execution, delivery and performance
of this Agreement and the Sponsor Warrants have been duly authorized by the Company as of the Closing Dates. This Agreement constitutes
a valid and binding obligation of the Company, enforceable in accordance with its terms. Upon issuance in accordance with, and
payment pursuant to, the terms of the Warrant Agreement and this Agreement, the Sponsor Warrants will constitute valid and binding
obligations of the Company, enforceable in accordance with their terms as of the Closing Dates.

 

(ii) The execution and delivery by the Company
of this Agreement and the Sponsor Warrants, the issuance and sale of the Sponsor Warrants, the issuance of the Shares upon exercise
of the Sponsor Warrants and the fulfillment of, and compliance with, the respective terms hereof and thereof by the Company, do
not and will not as of the Closing Dates (a) conflict with or result in a breach of the terms, conditions or provisions of, (b)
constitute a default under, (c) result in the creation of any lien, security interest, charge or encumbrance upon the Company’s
capital stock or assets under, (d) result in a violation of, or (e) require any authorization, consent, approval, exemption or
other action by or notice or declaration to, or filing with, any court or administrative or governmental body or agency pursuant
to the certificate of incorporation or the bylaws of the Company (in effect on the date hereof or as may be amended prior to completion
of the contemplated Public Offering), or any material law, statute, rule or regulation to which the Company is subject, or any
agreement, order, judgment or decree to which the Company is subject, except for any filings required after the date hereof under
federal or state securities laws.

 

C. Title to Securities. Upon issuance
in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, the Sponsor Warrants will be duly and
validly issued and the Shares issuable upon exercise of the Sponsor Warrants will be duly and validly issued, fully paid and nonassessable.
Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, the Purchaser will have
good title to the Sponsor Warrants and the Shares issuable upon exercise of such Sponsor Warrants, free and clear of all liens,
claims and encumbrances of any kind, other than (i) transfer restrictions hereunder and under the other agreements contemplated
hereby, (ii) transfer restrictions under federal and state securities laws, and (iii) liens, claims or encumbrances imposed due
to the actions of the Purchaser.

 

D. Governmental Consents. No permit,
consent, approval or authorization of, or declaration to or filing with, any governmental authority is required in connection with
the execution, delivery and performance by the Company of this Agreement or the consummation by the Company of any other transactions
contemplated hereby.

 

Section 3. Representations and Warranties of the Purchaser.
As a material inducement to the Company to enter into this Agreement and issue and sell the Sponsor Warrants to the Purchaser,
the Purchaser hereby represents and warrants to the Company (which representations and warranties shall survive the Closing Dates)
that:

 

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A. Organization and Requisite Authority.
The Purchaser possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement.

 

B. Authorization; No Breach.

 

(i) This Agreement constitutes a valid and
binding obligation of the Purchaser, enforceable in accordance with its terms, subject to bankruptcy, insolvency, fraudulent conveyance,
reorganization, moratorium and other laws of general applicability relating to or affecting creditors’ rights and to general
equitable principles (whether considered in a proceeding in equity or law).

 

(ii) The execution and delivery by the Purchaser
of this Agreement and the fulfillment of and compliance with the terms hereof by the Purchaser does not and shall not as of the
Closing Dates conflict with or result in a breach by the Purchaser of the terms, conditions or provisions of any agreement, instrument,
order, judgment or decree to which the Purchaser is subject.

 

C. Investment Representations.

 

(i) The Purchaser is acquiring the Sponsor
Warrants and, upon exercise of the Sponsor Warrants, the Shares issuable upon such exercise (collectively, the “Securities”),
for the Purchaser’s own account, for investment purposes only and not with a view towards, or for resale in connection with,
any public sale or distribution thereof.

 

(ii) The Purchaser is an “accredited
investor” as such term is defined in Rule 501(a)(3) of Regulation D of the Securities Act of 1933, as amended (the “Securities
Act”), and such Purchaser has not experienced a disqualifying event as enumerated pursuant to Rule 506(d) of Regulation
D under the Securities Act.

 

(iii) The Purchaser understands that the
Securities are being offered and will be sold to it in reliance on specific exemptions from the registration requirements of the
United States federal and state securities laws and that the Company is relying upon the truth and accuracy of, and the Purchaser’s
compliance with, the representations and warranties of the Purchaser set forth herein in order to determine the availability of
such exemptions and the eligibility of the Purchaser to acquire such Securities.

 

(iv) The Purchaser did not enter into this
Agreement as a result of any general solicitation or general advertising within the meaning of Rule 502(c) under the Securities
Act.

 

(v) The Purchaser has been furnished with
all materials relating to the business, finances and operations of the Company and materials relating to the offer and sale of
the Securities which have been requested by the Purchaser. The Purchaser has been afforded the opportunity to ask questions of
the executive officers and directors of the Company. The Purchaser understands that its investment in the Securities involves a
high degree of risk and it has sought such accounting, legal and tax advice as it has considered necessary to make an informed
investment decision with respect to the acquisition of the Securities.

 

(vi) The Purchaser understands that no United
States federal or state agency or any other government or governmental agency has passed on or made any recommendation or endorsement
of the Securities or the fairness or suitability of the investment in the Securities by the Purchaser nor have such authorities
passed upon or endorsed the merits of the offering of the Securities.

 

(vii) The Purchaser understands that: (a)
the Securities have not been and are not being registered under the Securities Act or any state securities laws, and may not be
offered for sale, sold, assigned or transferred unless (1) subsequently registered thereunder or (2) sold in reliance on an exemption
therefrom; and (b) except as specifically set forth in the Registration Rights Agreement, neither the Company nor any other person
is under any obligation to register the Securities under the Securities Act or any state securities laws or to comply with the
terms and conditions of any exemption thereunder. While such Purchaser understands that Rule 144 under the Securities Act is not
available for the resale of securities initially issued by shell companies (other than business combination related shell companies)
or issuers that have been at any time previously a shell company, such Purchaser understands that Rule 144 includes an exception
to this prohibition if the following conditions are met: (i) the issuer of the securities that was formerly a shell company has
ceased to be a shell company; (ii) the issuer of the securities is subject to the reporting requirements of Section 13 or 15(d)
of the Securities Exchange Act of 1934, as amended (the “Exchange Act”); (iii) the issuer of the securities
has filed all Exchange Act reports and material required to be filed, as applicable, during the preceding 12 months (or such shorter
period that the issuer was required to file such reports and materials), other than Form 8-K reports; and (iv) at least one year
has elapsed from the time that the issuer filed current Form 10 type information with the SEC reflecting its status as an entity
that is not a shell company.

 

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(viii) The Purchaser has such knowledge
and experience in financial and business matters, knowledge of the high degree of risk associated with investments in the securities
of companies in the development stage such as the Company, is capable of evaluating the merits and risks of an investment in the
Securities and is able to bear the economic risk of an investment in the Securities in the amount contemplated hereunder for an
indefinite period of time. The Purchaser has adequate means of providing for its current financial needs and contingencies and
will have no current or anticipated future needs for liquidity which would be jeopardized by the investment in the Securities.
The Purchaser can afford a complete loss of its investment in the Securities.

 

Section 4. Conditions of the Purchaser’s Obligations.
The obligations of the Purchaser to purchase and pay for the Sponsor Warrants are subject to the fulfillment, on or before the
Closing Dates, of each of the following conditions:

 

A. Representations and Warranties.
The representations and warranties of the Company contained in Section 2 shall be true and correct at and as of the Closing Dates
as though then made.

 

B. Performance. The Company shall
have performed and complied with all agreements, obligations and conditions contained in this Agreement that are required to be
performed or complied with by it on or before the Closing Dates.

 

C. No Injunction. No litigation,
statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed
by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority over
the matters contemplated hereby, which prohibits the consummation of any of the transactions contemplated by this Agreement or
the Warrant Agreement.

 

D. Warrant Agreement and Registration
Rights Agreement. The Company shall have entered into a Warrant Agreement with a warrant agent (the “Warrant Agreement”)
and the Registration Rights Agreement, each on terms satisfactory to the Purchaser.

 

E. Corporate Consents. The Company
shall have obtained the consent of its Board of Directors authorizing the execution, delivery and performance of this Agreement
and the Warrant Agreement and the issuance and sale of the Sponsor Warrants hereunder.

 

Section 5. Conditions of the Company’s Obligations.
The obligations of the Company to the Purchaser under this Agreement are subject to the fulfillment, on or before the Closing Dates,
of each of the following conditions:

 

A. Representations and Warranties.
The representations and warranties of the Purchaser contained in Section 3 shall be true and correct at and as of the Closing Dates
as though then made.

 

B. Performance. The Purchaser shall
have performed and complied with all agreements, obligations and conditions contained in this Agreement that are required to be
performed or complied with by the Purchaser on or before the Closing Dates.

 

C. No Injunction. No litigation,
statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed
by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority over
the matters contemplated hereby, which prohibits the consummation of any of the transactions contemplated by this Agreement or
the Warrant Agreement.

 

D. Warrant Agreement and Registration
Rights Agreement. The Company shall have entered into the Warrant Agreement and the Registration Rights Agreement.

 

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E. Corporate Consents. The Company
shall have obtained the consent of its Board of Directors authorizing the execution, delivery and performance of this Agreement
and the Warrant Agreement and the issuance and sale of the Sponsor Warrants hereunder.

 

Section 6. Termination. This Agreement may be terminated
at any time after December 31, 2022 upon the election by either the Company or a Purchaser entitled to purchase a majority of the
Sponsor Warrants upon written notice to the other parties if the closing of the Public Offering does not occur prior to such date.

 

Section 7. Survival of Representations and Warranties.
All of the representations and warranties contained herein shall survive the Closing Dates.

 

Section 8. Definitions. Terms used but not otherwise
defined in this Agreement shall have the meaning assigned to such terms in the Registration Statement.

 

Section 9. Miscellaneous.

 

A. Successors and Assigns. Except
as otherwise expressly provided herein, all covenants and agreements contained in this Agreement by or on behalf of any of the
parties hereto shall bind and inure to the benefit of the respective successors of the parties hereto whether so expressed or not.
Notwithstanding the foregoing or anything to the contrary herein, the parties may not assign this Agreement, other than assignments
by the Purchaser to affiliates thereof.

 

B. Severability. Whenever possible,
each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if
any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall be ineffective
only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement.

 

C. Counterparts. This Agreement may
be executed simultaneously in two or more counterparts, none of which need contain the signatures of more than one party, but all
such counterparts taken together shall constitute one and the same agreement. 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.

 

D. Descriptive Headings; Interpretation.
The descriptive headings of this Agreement are inserted for convenience only and do not constitute a substantive part of this Agreement.
The use of the word “including” in this Agreement shall be by way of example rather than by limitation.

 

E. Governing Law. This Agreement
shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall be construed in accordance
with the internal laws of the State of Delaware.

 

F. Amendments. This Agreement may
not be amended, modified or waived as to any particular provision, except by a written instrument executed by all parties hereto.

 

 

[Signature page follows]

 

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IN WITNESS WHEREOF, the parties hereto
have executed this Agreement to be effective as of the date first set forth above.

 

	 	COMPANY:
	 	 
	 	CLARIM ACQUISITION CORP.
	 	 
	 	By:	/s/ James F. McCann
	 	Name:	James F. McCann
	 	Title:	Chief Executive Officer

 

	CLARIM PARTNERS, LLC	 
	 	 
	By:	/s/ James F. McCann	 
	 	Name: 	James F. McCann	 
	 	Title: 	Managing Member	 

 

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