Document:

Exhibit 10.12

 

Churchill Capital Corp VI

640 Fifth Avenue, 12th Floor

New York, NY 10019

February 11, 2021

 

M. Klein Associates, Inc.

640 Fifth Avenue, 12th Floor

New York, NY 10019

 

Re: Administrative Services Agreement

 

Ladies and Gentlemen:

 

This letter agreement by and between Churchill Capital Corp
VI, a Delaware corporation (the “Company”) and M. Klein Associates, Inc., a New York corporation (the
 “Services Provider”), dated as of the date hereof, will confirm our agreement that, commencing on the
date that securities of the Company are first listed on the New York Stock Exchange (the “Listing Date”)
and continuing until the earlier of the consummation by the Company of an initial business combination and the Company’s
liquidation (in each case as described in the Registration Statement on Form S-1 (File No. 333-252005) filed with the Securities
and Exchange Commission) (such earlier date hereinafter referred to as the “Termination Date”):

 

		1.	The Services Provider (and/or any of its affiliates designated by the Services Provider) shall make available to the Company,
at the address of the Services Provider referred to above (or any successor location or other existing office locations of the
Services Provider or any of its affiliates), office space and administrative and support services as may be reasonably requested
by the Company. In exchange therefor, the Company shall pay to the Services Provider, on the first day of each month, the sum of
$30,000 per month commencing on the Listing Date and continuing monthly thereafter until the Termination Date; and

 

		2.	The Services Provider hereby irrevocably waives any and all right, title, interest, causes of action and claims of any kind
or nature whatsoever (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 a substantial
amount of proceeds of the Company’s initial public offering will be deposited (the “Trust Account”),
and hereby irrevocably waives any Claim it presently has or may have in the future as a result of, or arising out of, this letter
agreement, 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 all 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, provided that the Services
Provider may assign this letter agreement or any of its rights, interests, or obligations hereunder to an affiliate without the
prior written approval of the Company. 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 with respect to the subject matter described herein and any litigation between the parties (whether grounded
in contract, tort, statute, law or equity) shall be governed by and construed in accordance with the laws of the State of New York.

 

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 letter
agreement.

 

[Signature page follows]

 

    2 

     

    

 

	 	 	 	Very truly yours,
	 	 	 	 	 
	 	 	 	Churchill Capital Corp VI
	 	 	 	 	 
	 	 	 	By:	/s/ Jay Taragin
	 	 	 	 	Name: Jay Taragin
	 	 	 	 	Title: Chief Financial Officer
	 	 	 	 	 
	AGREED TO AND ACCEPTED BY:	 	 	 
	 	 	 	 	 
	M. KLEIN ASSOCIATES, INC.	 	 	 
	 	 	 	 	 
	By:	/s/ Jay Taragin	 	 	 
	 	Name: Jay Taragin	 	 	 
	 	Title: Authorize Person	 	 	 

 

[Signature Page to Administrative Services
Agreement]Document

Exhibit 10.49

AMENDMENT NUMBER 3                                                                        
TO 
THE CANADIAN PACIFIC RAILWAY COMPANY SECONDARY PENSION PLAN

EFFECTIVE JUNE 1, 2013:

1.Section 5.06 is deleted in its entirety and replaced with the following:
              
              “5.06   Company Contributions to the Fund

(a)The Company shall pay into the Fund from time to time such amounts as may be required in accordance with such tests and standards for solvency as are prescribed by the Act and the Regulations, provided such contributions are made pursuant to a recommendation of the Actuary in accordance with the Revenue Rules.

(b)While the Plan remains in force, the Company is entitled, subject to the requirements of the Act, the Regulations and the Revenue Rules, 

(i)to utilize any surplus assets to reduce any amounts the Company is required to pay into the Fund, or 

(ii)to withdraw any surplus assets from the Fund.”

2.Subsection 6.01(e) is deleted in its entirety and replaced with the following:

“(e)     Pensionable Service shall include:

(i)A period lay-off that does not exceed twelve (12) consecutive calendar months, where

(A)at the commencement of the lay-off the Member has at least twenty (20) years of cumulative Service, and

(B)the Member, throughout the lay-off, has not declined to accept another position offered by the Company;

(ii)Leave due to child care responsibilities, including maternity leave, granted by the Company pursuant to the Canada Labour Code; 

(iii) A leave of absence in respect of which a Member receives any Earnings other than Deemed Earnings;

(iv)On and after January 1, 2004, compassionate care leave granted by the Company pursuant to the Canada Labour Code; and

(v)A period of Service rendered outside Canada while the Member is a resident of Canada.”Document

Exhibit 10.50

AMENDMENT NUMBER 14
TO THE CANADIAN PACIFIC RAILWAY COMPANY PENSION PLAN
CONSOLIDATED AS AT JANUARY 1, 2009

Effective May 1, 2017,
1.Amend subparagraph 4.03(d) by adding the phrase “but subject to paragraph 4.09” immediately following the phrase “Notwithstanding subparagraphs (a), (b) and (c)”.
2.Amend subparagraph 4.03(e) by adding the phrase “but subject to paragraph 4.09” immediately following the phrase “Notwithstanding subparagraphs (a), (b) and (c)”.
3.Add new paragraph 4.09 after paragraph 4.08:

“4.09   Option to Become a DC Member for CPPA Service
(a)A Member who is an Employee in a position represented by CPPA on May 12, 2017 shall irrevocably elect on or before that date to either remain a DB Member or become a DC Member effective June 1, 2017. If the Member fails to make such an election within the allowable time period, the Member shall be deemed to have elected to remain a DB Member. 
(b)An Employee who joins the Plan after May 12, 2017 as an Employee in a position represented by CPPA shall, within 30 days of joining the Plan, irrevocably elect to either become a DB Member or become a DC Member effective on the date the Member joins the Plan. If the Member fails to make such an election within the allowable time period, the Member shall be deemed to have elected to become a DB Member.
(c)After May 12, 2017, if a Member who is not an Employee in a position represented by CPPA becomes an Employee in a position represented by CPPA, and if the Member has not at any time made an election under subparagraph (a) or (b) or under this subparagraph (c), then the Member shall, within 30 days after becoming an Employee in a position represented by CPPA, make an irrevocable election to participate either as a DB Member or as a DC Member effective on the first day of the month following the date the Member makes such an election. If the Member fails to make such an election within the allowable time period, then
(i)if the Member is a DB Member immediately prior to becoming an Employee in a position represented by CPPA, the Member shall be deemed to have elected to remain a DB Member, and
(ii)if the Member is a DC Member immediately prior to becoming an Employee in a position represented by CPPA, the Member shall be deemed to have elected to remain a DC Member.
(d)An election made or deemed to have been made by a Member under subparagraph (a), (b) or (c) shall apply to all periods of CPPA Service accrued by the Member on and after the effective date of the election. Any DB Pension Benefits accrued by the Member in respect of Pensionable Service prior to the effective date of the election shall continue to be provided as DB Pension Benefits, and any DC Pension Benefits accrued by the Member in respect of Pensionable Service prior to the effective date of the election shall continue to be provided as DC Pension Benefits.
(e)If a Member who is an Employee in a position represented by CPPA becomes a Management Employee, and if the Member has elected or is deemed to have elected to participate as a DC Member under subparagraph (a), (b) or (c), then notwithstanding clause 4.03(d)(i), the Member shall remain a DC Member after becoming a Management Employee and shall continue to accrue DC Pension Benefits for all Management Service accrued by the Member on and after the date the Member becomes a Management Employee.
(f)If a Member who is an Employee in a position represented by CPPA becomes an Employee in a position represented by a Union other than CPPA, then the Member shall participate as a DB Member effective on the date the Member becomes an Employee in a position represented by that other Union. 
4.Delete subparagraph 6.11(d) in its entirety and replace it with the following:
“(d)      Pensionable Service described under subparagraphs (b) and (c), if applicable, above shall be recognized in determining eligibility for any defined benefit entitlements for a Member:

(i)electing to join the defined benefit portion of the Plan in accordance with paragraph 4.05, 
(ii)required to join the defined benefit portion of the Plan in accordance with subparagraph 4.03(e), 
(iii)who was in a position covered by a collective agreement with a Union and, who upon becoming a Management Employee, elects to participate in the Defined Contribution Provision, or 
(iv)who elects to participate in the Defined Contribution Provision in accordance with paragraph 4.09.”

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