Document:

Exhibit
10.16

 

AST
& SCIENCE, LLC

 

December
15, 2020

 

Vodafone
Ventures Limited

c/o
Vodafone Group Services Limited

One
Kingdom Street

Paddington
Central, London W2 6BY

Attn:
Vodafone Group General Counsel

&
Company Secretary

 

Re:
Commercial Agreement

 

Vodafone
Ventures Limited:

 

Reference
is made to that certain Amended & Restated Series B Preferred Shares Purchase Agreement dated as of February 4, 2020 (the
“Series B Purchase Agreement”) by and among AST & Science, LLC (the “Company”) and certain
“Purchasers” party thereto, including Vodafone Ventures Limited (“VVL”). Capitalized terms used
without definition hereunder shall have the meanings ascribed to such terms in the Series B Purchase Agreement.

 

As
you know, the Series B Purchase Agreement, which remains in full force and effect, including in relation to Annex 1, contemplates
in Section 6.3(a) that VVL and the Company will negotiate and enter into the Vodafone Commercial Agreements, which agreements
will include the matters specified on Annex 1 to the Series B Purchase Agreement. As you also know, concurrently with the
execution of this letter agreement, the Company and certain of its existing equity holders are entering into an Equity Purchase
Agreement (the “Equity Purchase Agreement”) with New Providence Acquisition Corp. (“NPA”)
and New Providence Management LLC (“NPA Sponsor”). The Equity Purchase Agreement contemplates a series of transactions
the consummation of which will result in (i) NPA becoming the managing member of the Company and a publicly listed and traded
holding company for the Company’s business (NPA after the closing of the Equity Purchase Agreement, “PubCo”),
(ii) each of PubCo and the Company undergoing a recapitalization transaction to structure the ongoing business into an “UP-C”
structure and receive up to $400 million of new investment capital from NPA investors in a concurrent private offering of PubCo
equity and (iii) in connection with the foregoing, the amendment and restatement of the Company’s limited liability company
operating agreement, the adoption of a new charter and bylaws for PubCo (which will be renamed “AST SpaceMobile, Inc.”),
entry into a stockholders’ agreement among the PubCo, NPA Sponsor and certain of AST’s existing equity holders, among
other ancillary agreements facilitative to the foregoing (the transactions and agreements contemplated by the Equity Purchase
Agreement, collectively, the “Going Public Transactions”).

 

    	 

    	 

    

 

As
a result of Going Public Transactions, at the closing of the Equity Purchase Agreement, each of the Investors’ Rights Agreement,
Right of First Refusal and Co-Sale Agreement and Voting Agreement entered into in connection with the Series B Purchase Agreement
will be terminated. Those agreements contemplated, among other things, a series of VVL governance rights which relate principally
to VVL’s commercial dealings with the Company. In connection with the Going Public Transactions, and in light of the termination
of the aforementioned VVL governance rights, the parties hereto hereby agree that (i) the Vodafone Commercial Agreements, which
will include all covenants of the Company specified in this letter agreement as integral terms thereof, will be negotiated and
entered into between the Company, on the one hand, and Vodafone Group Services Limited, or its applicable affiliate, rather than
VVL, on the other hand, (ii) all references to “Vodafone” in Annex 1 to the Series B Purchase Agreement shall
be understood for all purposes to be references to Vodafone Group Services Limited or its applicable affiliates (other than VVL),
and (iii) VVL shall have no liability to the Company or its affiliates relating to or in connection with the Vodafone Commercial
Agreements or the negotiation, entry into, delivery or performance of the Vodafone Commercial Agreements.

 

In
addition, the parties hereto hereby agree that the Vodafone Commercial Agreements shall contain the following additional covenants,
which are intended to facilitate achieving the mutual business goals of the parties and their affiliates and which shall be binding
on the Company and its affiliates unless otherwise agreed to by Vodafone Group Services Limited in writing in advance:

 

	 	(1)	neither
    the Company nor its subsidiaries will enter into any material corporate strategic relationship or material commercial agreement
    with a party other than Vodafone Group Services Limited or its affiliates that would be reasonably expected to materially
    frustrate the Company’s ability to enter into, or satisfy its obligations under, the Vodafone Commercial Agreements;
    provided, however, that the foregoing shall in no event limit the ability of the Company or its subsidiaries
    to enter into (x) the Rakuten Commercial Agreements, (y) ordinary course agreements, or (z) any other agreements contemplated
    by the then-current business plan (“Business Plan”) for PubCo and the Company adopted by the board of directors
    of PubCo from time-to-time;
	 	 	 
	 	(2)	subject
    to compliance with applicable law, the Company will allocate sufficient funds in the capital budget for PubCo and the Company,
    including amendments thereof, to facilitate compliance with the Company’s obligations under the Vodafone Commercial
    Agreements or the Company’s obligations with respect the Vodafone Commercial Agreements under the Series B Purchase
    Agreement; and
	 	 	 
	 	(3)	subject
    to compliance with applicable law, the Company will not alter the Business Plan in a manner that is materially detrimental
    to the Company’s ability to promptly enter into, deliver, or satisfy its obligations under, the Vodafone Commercial
    Agreements.

 

    	 

    	 

    

 

In
furtherance of the foregoing, the parties hereto hereby agree that prior to the execution and delivery of the Vodafone Commercial
Agreements and the effectiveness thereof, each of the Company, PubCo, and their applicable subsidiaries shall comply with, or
cause its subsidiaries to comply with, each of the covenants set forth in clauses (1) through (3) above unless otherwise agreed
to by Vodafone Group Services Limited in writing in advance.

 

This
letter agreement shall take effect upon the closing of the Equity Purchase Agreement. Following such effectiveness (if any), this
letter agreement shall terminate and be of no further force or effect upon the execution of the Vodafone Commercial Agreements.
This letter agreement may not be amended or any provision hereof waived or modified except by an instrument in writing signed
by each of the parties hereto. This letter agreement, the rights and duties of the parties hereunder, any disputes (whether in
contract, tort or statute), and the legal relations among the parties arising hereunder shall be governed by and interpreted and
enforced in accordance with the laws of the State of Delaware without reference to its provisions or principles of conflicts of
laws. Each party to this letter agreement hereby irrevocably submits to the exclusive jurisdiction of any state or federal court
sitting in the State of Delaware in any action or proceeding arising out of or relating to this Agreement, and each party hereby
irrevocably agrees that all claims asserted in such action or proceeding shall be heard and determined in any such court. Each
party further irrevocably waives any objection which such party may now or hereafter have to the venue of the state or federal
court in the State of Delaware having jurisdiction, and irrevocably agrees not to assert that such court is an inconvenient forum.
This letter agreement may be executed in any number of counterparts with the same effect as if the parties hereto had signed the
same document. All counterparts will be construed together and will constitute one instrument.

 

[signature
page to follow]

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Letter Agreement on the date first written above, to be effective as of
and conditioned on the Closing as defined in the Equity Purchase Agreement.

 

	 	Very
    truly yours,
	 	 
	 	AST
    & SCIENCE, LLC
	 	 
	 	/s/
    Thomas E. Severson, Jr.
	 	Thomas
    E Severson, Jr., CFO

 

    	 

    	 

    

 

AGREED
AND ACCEPTED:

 

	VODAFONE
    VENTURES LIMITED	 
	 	 
	By:	/s/
    Edward Verner	 
	Name:	Edward
    Verner	 
	Title:	Authorized
    Signatory	 
	 	 	 
	VODAFONE
    GROUP SERVICES LIMITED	 
	 	 
	By:	/s/
    Johan Wibergh	 
	Name:	Johan
    Wibergh	 
	Title:	Group
    CTOExhibit
10.17

 

AST
& SCIENCE, LLC

 

December
15, 2020

 

ATC
TRS IV LLC

116
Huntington Avenue, 11th Floor

Boston,
MA 02116

Attention:
Jason Hirsch

 

Re:
Additional Agreements

 

ATC
TRS IV LLC:

 

This
letter agreement (this “Amended and Restated Letter Agreement”) amends and restates that certain letter (the
“Original Letter”) from AST & Science, LLC, a Delaware limited liability company (the “Company”)
to ATC TRS II LLC, a Delaware limited liability company and predecessor in interest to ATC TRS IV LLC, a Delaware limited liability
company (“you” or the “Investor” and, together with the Company, the “Parties,”
and each, a “Party”), dated October 16, 2019 in connection with the acquisition by the Investor of 149,685
Series B Preferred Shares (the “Preferred Shares”) of the Company, pursuant to that certain Series B Preferred
Shares Purchase Agreement, dated as of October 16, 2019 (the “Purchase Agreement,” and such sale of Series
B Preferred Shares pursuant to the Purchase Agreement, the “Series B Financing”).

 

As
you also know, concurrently with the execution of this Amended and Restated Letter Agreement, the Company and certain of its existing
equity holders are entering into an Equity Purchase Agreement (the “Equity Purchase Agreement”) with New Providence
Acquisition Corp. (“NPA”) and New Providence Management LLC (“NPA Sponsor”). The Equity
Purchase Agreement contemplates a series of transactions the consummation of which will result in (i) NPA becoming the managing
member of the Company and a publicly listed and traded holding company for the Company’s business (NPA after the closing
of the Equity Purchase Agreement, “PubCo”), (ii) each of PubCo and the Company undergoing a recapitalization
transaction to structure the ongoing business into an “UP-C” structure and receive up to $250 million of new investment
capital from NPA investors in a concurrent private offering of PubCo equity (the “PIPE Offering”) and (iii)
in connection with the foregoing, the amendment and restatement of the Company’s limited liability company operating agreement,
the adoption of a new charter and bylaws for PubCo (which will be renamed “AST SpaceMobile, Inc.”), entry into a stockholders’
agreement among the PubCo, NPA Sponsor and certain of AST’s existing equity holders, among other ancillary agreements facilitative
to the foregoing (the transactions and agreements contemplated by the Equity Purchase Agreement, collectively, the “Going
Public Transactions”).

 

As
a result of Going Public Transactions, and for other commercial reasons, the Company and the Investor hereby enter into this Amended
and Restated Letter Agreement pursuant to which the Parties agree as follows:

 

	 	1.	Sale
    of Shares to Competitor. As long as the Investor, together with its affiliated entities, owns no less than all of the
    Preferred Shares purchased by it pursuant to the Purchase Agreement, the Company agrees not to issue and/or sell equity securities
    in the PIPE Offering to a “Cellular Tower Company” defined as any person or company which is primarily engaged
    in the neutral host business, which shall include the operation of telecommunications systems through infrastructure or the
    erection, maintenance and/or provision of space on, or leasing of, telecommunications towers, whether ground based towers,
    rooftop towers, poles or other types of towers or communications systems, including fiber optic cables, or the communications
    facilities situated at various tower or communications sites; for the avoidance of doubt, the expression “Cellular Tower
    Company” will not include wireless mobile network operators or financial sponsors. 

 

    	 

    	 

    

 

	 	2.	Press
    Release. Section 2 of the Original Letter is hereby terminated and void effective upon the closing of the Equity Purchase
    Agreement.
	 	 	 
	 	3.	Commercial
    Agreement. See Annex A hereto which is incorporated herein by reference. 

 

This
Amended and Restated Letter Agreement is effective as of the date first above written.

 

	 	Very
    truly yours,
	 	 
	 	AST
    & SCIENCE, LLC
	 	 
	 	/s/
    Abel Avellan
	 	Abel
    Avellan, CEO

 

	AGREED
    AND ACCEPTED:	 
	 	 
	ATC
    TRS IV LLC 	 
	 	 	 
	By:	/s/
    Edmund DiSanto	 
	Name:	Edmund
    DiSanto	 
	Title:	EVP,
    Chief Administration Officer and General Counsel	 

 

    	 

    	 

    

 

ANNEX
A

 

ATC
TRS IV LLC (“American tower”) and AST&Science LLC (“AST”) Operational Agreement Terms

 

The
terms below amend and restate Annex A to the Original Letter and are effective as of the date of the Amended and Restated
Letter Agreement, to which these terms are attached and incorporated into by reference. These terms are predicated on the availability
of suitable American Tower facilities on a Market (defined below) by Market basis to serve as AST’s terrestrial gateway
facilities (such facilities, including the feeder link equipment, hosted operator cellular radio access equipment and software,
and all other reasonable or necessary equipment or software, collectively, the “Gateway Facilities” and each,
a “Gateway Facility”). Each capitalized term or expression used but not otherwise defined in this annex shall
have the meaning attributed to such term or expression in the Amended and Restated Letter Agreement.

 

Context:

 

AST’s
space platform and Gateway Facilities will provide mobile network operators (each, an “MNO”) mobile services
infrastructure to areas unserved and/or inconsistently served by terrestrial network coverage.

 

Each
Gateway Facility may serve (a) a single MNO or (b) multiple MNOs in each country (each, a “Market”).

 

The
Parties shall negotiate, in good faith, commercial agreements for the placement of Gateway Facilities on a Market by Market basis,
as provided for herein.

 

The
Markets in which Vodafone operates are set forth on Appendix A which, for the avoidance of doubt, shall not be modified
other than by mutual written agreement of the parties (the “Vodafone Markets” and, the Markets where Vodafone
does not operate, the “Carrier Neutral Markets”).

 

	A.	Vodafone
    Markets 

 

In
Vodafone Markets, each American Tower Gateway Facility may serve a single MNO provided that American Tower has local Market operations
with assets that meet AST’s and the MNO’s Service Level Agreement (each, an “SLA”) requirements,
technical requirements and availability. AST shall work with Vodafone and American Tower to evaluate and plan deployments with
preferred vendor status to also offer such facilities in the Vodafone Markets. In Vodafone Markets, the usage of any American
Tower services shall be subject to Vodafone’s, AST’s and American Tower’s mutual technical and commercial agreement
in addition to acquisition, zoning and permitting know-how on a Market by Market basis.

 

	B.	Carrier
    Neutral Markets

 

In
all Markets, American Tower Gateway Facilities may serve multiple MNOs and other service providers provided that American Tower
has local Market operations that meet AST’s and its customers’ SLA requirements, technical requirements and carrier
neutral availability. AST shall work with American Tower to evaluate and plan such deployments on existing or new properties,
or in new Markets. Such deployments shall be subject to the Right of First Bid process set forth herein and the mutual written
agreement of the Parties.

 

    	 

    	 

    

 

In
Carrier Neutral Markets, American Tower may at its sole discretion and upon written commercial and technical agreement with AST,
manage the operation of the AST deployed Gateway Facilities, including access points e/Node B / gNode B transport (the “Managed
Services”) and, where applicable, in connection with AST’s space platform and mobile network. Each Gateway Facility
in each Market will define the services, technical requirements and SLA to be agreed to between AST and American Tower subject
to the Right of First Bid process set forth in Section C herein.

 

	C.	Operational
    Agreement Terms

 

Term:
Five (5) years starting with the initial launch of Bluewalker 3 commercial mobile services by AST from its space platform
for mobile, which date shall be confirmed in writing by AST to American Tower.

 

American
Tower Preferred Vendor Rights: In the event AST requires a third party service provider of a Gateway Facility or services
in a Carrier Neutral Market, AST shall provide detailed requirements, schedules and desired locations in advance in writing to
American Tower. American Tower shall provide an initial estimate to provide such Gateway Facility or services. Should AST reasonably
deem such initial estimate acceptable, AST shall proceed to contract with American Tower. If AST does not, in its reasonable estimation,
deem such estimate acceptable, AST shall put to open bid such Gateway Facility or services, to which process American Tower shall
be invited, in its sole discretion, to participate, but in no case shall AST accept any bid that, all things being equal, is inferior
to American Tower’s best and final proposal. Any such choice of an alternative bidder shall be subject upon American Tower’s
request to a confidential third-party audit to validate such decision. For the avoidance of doubt, this preferred vendor process
shall apply (i) in all markets not set forth on Appendix A and (ii) with respect to any single MNO launches in Carrier Neutral
Markets.

 

American
Tower Preferred Gateway Facility Vendor Status: If in (i) Vodafone Markets where Vodafone elects not to use its own single
MNO facilities, (ii) all Markets not set forth in Appendix A, or (iii) instances where AST requires a third party vendor, American
Tower’s existing or proposed facilities are technically and commercially feasible for the AST’s space mobile services,
then AST will use commercially reasonable efforts to utilize American Tower facilities for AST’s global network and mutually
agree to financial terms. In all cases, the written consent of all AST customers, including the local MNO partners or Vodafone
in Vodafone Markets, shall be a requirement for the use of American Tower facilities or services on a Market by Market basis.

 

Carrier
Neutral Hosting Facilities in Equatorial Markets:

 

AST
shall immediately commence work with American Tower to evaluate and plan Gateway Facility and radio access network data center
deployments with preferred vendor status to offer carrier-neutral hosting facilities in the initial launch Markets set forth on
Appendix B (each, an “Equatorial Market”). In Equatorial Markets, the usage of American Tower Gateway Facilities,
acquisition, zoning and permitting know-how, as well as construction, and operational services shall be subject to the Parties’
mutual technical and commercial agreement, on an Equatorial Market by Equatorial Market basis.

 

Carrier
Neutral Hosting Facilities 

 

During
space mobile network deployments in the initial Equatorial Markets, (subject to the Vodafone Markets) as well as all other future
Markets inclusive of 5G (subject to the Vodafone Markets), American Tower will serve as the preferred vendor for carrier neutral
hosting facilities. Each such carrier neutral hosting facility shall have the ability to serve all MNOs in such Markets. American
Tower’s provision of a carrier neutral hosting facility to AST may include but not be limited to (i) operation of such carrier-neutral
hosting facility, (ii) all ground infrastructure and hosting capabilities necessary to operate such carrier neutral hosting facility,
(iii) the locations for each carrier neutral hosting facility, (iv) all power/electricity and other equipment needed to operate
such carrier-neutral hosting facility, (v) radio and associated computing and networking equipment, and (vi) appropriate security
for each carrier-neutral hosting facility.

 

    	 

    	 

    

 

For
the use of a carrier neutral hosting facility, AST shall pay American Tower a fair market monthly fee (the “Monthly Connection
Fee”) determined by the Parties on a facility-by-facility basis for the use and operation of the applicable carrier
neutral hosting facility. The Monthly Connection Fee will be an amount determined by the size of the facility, the number of AST
MNO partners utilizing the applicable carrier neutral hosting facility and any local Market requirements. AST will negotiate to
charge each MNO partner its pro rata share of the Monthly Connection Fee for the use of the applicable carrier-neutral
hosting facility and such amounts will be paid to American Tower as the Monthly Connection Fee.

 

Should
American Tower and AST mutually agree to construct a new carrier neutral hosting facility or construct improvements required to
an existing carrier neutral hosting facility in order to deliver the SpaceMobile Service in any Market, American Tower may choose
in its sole discretion to incur all such capital expenditures and manage the construction for such improvements (the “American
Tower Investments”). To the extent American Tower Investments are incurred, American Tower will provide AST a fair market,
long-term lease arrangement whereby the underlying lease construct will be based on the return of capital relating to the American
Tower Investments and at a market rate of return for the capital invested (the “Hosting Facility Lease”). AST
will negotiate to charge each MNO partner its pro rata share of the Hosting Facility Lease for the use of the applicable
carrier-neutral hosting facility and such amounts will be paid to American Tower in satisfaction of the payments required by the
Hosting Facility Lease.

 

**Remainder
of Page Intentionally Left Blank – Counterpart Signature Pages to Follow**

 

    	 

    	 

    

 

	AST & SCIENCE, LLC	 
	 	 	 
	By:	/s/
    Abel Avellan	 
	Name:	Abel
    Avellan	 
	Title:	CEO	 
	 	 	 
	ATC TRS IV LLC	 
	 	 	 
	By:	/s/
    Edmund DiSanto	 
	Name:	Edmund
DiSanto	 
	Title:	EVP,
    Chief Administration Officer and General Counsel	 

 

Signature
Page to Annex A – Operational Agreement Terms

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