Document:

Exhibit 10.11

 

CONFIDENTIAL

 

[●], 2021               

 

TPG Pace Tech Opportunities II Corp.

301 Commerce St., Suite 3300

Fort Worth, TX 76102

Attention: Eduardo Tamraz, Executive Vice President of Corporate
Development and Secretary

 

		Re:	Engagement of Services

 

Dear Eduardo Tamraz:

 

This will confirm the basis upon which TPG Pace Tech Opportunities
II Corp. (“Client”) has engaged TPG Capital BD, LLC (“TPG Capital BD”) to provide
independent financial consulting services, consisting of a review of deal structure and terms and related structuring advice in
connection with the transaction described in paragraph 1 below (the “Engagement”).

 

1.                 
Fee. The Client shall pay TPG Capital BD a fee of up to $957,375 (the “Fee”), which shall
be payable by the Client and due to TPG Capital BD upon the consummation of the initial public offering of the securities of the
Client (the “Transaction” and such consummation of the initial issuance of securities, the “Closing”).
If the Closing does not occur during the Term, then no Fee shall be payable to TPG Capital BD. The fees described in this paragraph
1 are compensation for the Engagement, which consists of work directly related to the Transaction. Any work that is outside of
the scope of the Engagement shall be subject to additional compensation as separately agreed by the parties hereto.

 

2.                 
Term of Engagement. This Agreement shall remain in force for a period of twelve (12) months from the date hereof,
or until 45 days following the consummation of the Transaction, whichever occurs earlier, and may be extended upon mutual agreement
of the parties hereto (including any renewal thereof, the “Term”).  The Term may be terminated by
either TPG Capital BD or the Client at any time prior to its expiration with forty-five (45) days advance written notice to the
other.  Expiration or termination of this Agreement shall not affect TPG Capital BD’s right to indemnification or contribution
or payment of the Fee in accordance with the terms of this Agreement.  Without limiting the foregoing, notwithstanding the
expiration or termination of this Agreement, the provisions of this Agreement shall survive and remain operative in accordance
with their respective terms. 

 

3.                  Scope
of Liability. Neither TPG Capital BD (nor any of its control persons, members, managers, officers, employees, agents or
affiliates) shall be liable to the Client or to any other person claiming through the Client for any error of judgment or for
any claim, loss or expense suffered by the Client or any such other person in connection with the matters to which the
Engagement relates except to the extent a claim, loss or expense arises out of or is based upon any action or failure to act
by TPG Capital BD or any of its control persons, members, managers, officers, employees, agents or affiliates, other than an
action or failure to act undertaken at the request or with the consent of the Client, that is found in a final judicial
determination (or a settlement tantamount thereto) to constitute bad faith, willful misconduct or gross negligence on the
part of TPG Capital BD or any such other person.

 

     

     

    

 

TPG Pace Tech Opportunities II Corp.

[●], 2021

Page 2

 

4.                 
Indemnity and Contribution. Recognizing that transactions of the type contemplated by the Engagement sometimes result
in litigation and that TPG Capital BD’s role is limited to acting in the capacities described herein, the Client agrees to
indemnify TPG Capital BD and its control persons, members, managers, officers, employees, agents and affiliates (each, including
TPG Capital BD, an “Indemnified Person”) to the full extent lawful against any and all claims, losses
and expenses as incurred (including all reasonable fees and disbursements of each such Indemnified Person’s counsel and all
reasonable travel and other out-of-pocket expenses incurred by each such Indemnified Person in connection with investigation of
and preparation for any such pending or threatened claims and any litigation or other proceedings arising therefrom) arising out
of any actual or proposed Transaction or the Engagement; provided; however, there shall be excluded from such indemnification
any such claim, loss or expense that arises primarily out of or is based primarily upon any action or failure to act by any Indemnified
Person, other than an action or failure to act undertaken at the request or with the consent of the Client, that is found in a
final judicial determination (or a settlement tantamount thereto) to constitute bad faith, willful misconduct or gross negligence
on the part of any Indemnified Person.

 

The Client shall be notified in writing by TPG Capital BD
if any action, suit or investigation (an “Action”) is commenced against TPG Capital BD or, so long
as TPG Capital BD has actual knowledge of such Action, any other Indemnified Person, within a reasonable time after TPG
Capital BD or any other Indemnified Person shall have been served with a summons or other first legal process, but failure so
to notify the Client shall not relieve the Client from any liability that it may have hereunder, except to the extent that
such failure so to notify the Client materially prejudices the Client’s rights. The Client may assume, at its own
expense, the defense of any Action exercisable upon written notice to TPG Capital BD and any such Indemnified Person(s), if
applicable, within 30 days of notice by TPG Capital BD or such Indemnified Person provided pursuant to the preceding sentence
and the Client will have no liability for any legal costs of such Indemnified Person subsequently incurred except as set
forth below, and such defense shall be conducted by counsel chosen by the Client and reasonably satisfactory to TPG Capital
BD and such Indemnified Person(s), if applicable. The Indemnified Person shall have the right to participate in the defense
of any Action with counsel selected by it subject to the Client’s right to control the defense thereof. The fees and
disbursements of such counsel shall be at the expense of the Indemnified Person, provided, that if in the reasonable
opinion of counsel to the Indemnified Person, (a) there are legal defenses available to an Indemnified Person that are
different from or additional to those available to the Client; or (b) there exists an actual conflict of interest between the
Client and the Indemnified Person that cannot be waived, the Client shall be liable for the reasonable fees and expenses of
counsel to the Indemnified Person in each jurisdiction for which the Indemnified Person determines counsel is required). If
the Client elects not to compromise or defend such Action, fails to promptly notify the Indemnified Person in writing of its
election to defend as provided in this Agreement, or fails to diligently prosecute the defense of such Action, the
Indemnified Person may, subject to the next paragraph, pay, compromise, defend such Action and seek indemnification for any
and all damages, expenses, liabilities and losses based upon, arising from or relating to such Action. The parties hereto and
their affiliates shall cooperate with each other in all reasonable respects in connection with the defense of any Action.

 

     

     

    

 

TPG Pace Tech Opportunities II Corp.

[●], 2021

Page 3

 

Notwithstanding any other provision of
this Agreement, the Client shall not enter into settlement of any Action without the prior written consent of the Indemnified
Person except as provided in this paragraph. If a firm offer is made to settle an Action without permitting or leading to further
claims, losses, liability or expense or the creation of a financial or other obligation on the part of the Indemnified Person
and provides, in customary form, for the unconditional release of each Indemnified Person from all liabilities and obligations
in connection with such Action and the Client desires to accept and agree to such offer, the Client shall give written notice
to that effect to the Indemnified Person. If the Indemnified Person fails to consent to such firm offer within ten (10) days after
its receipt of such notice, the Indemnified Person may continue to contest or defend such Action and in such event, the maximum
liability of the Client as to such Action shall not exceed the amount of such settlement offer plus the Indemnified Person’s
costs and expenses (including reasonable fees and disbursements of counsel and other out-of-pocket expenses) through the end of
such ten (10) day period. If the Indemnified Person fails to consent to such firm offer and also fails to assume defense of such
Action, the Client may settle the Action upon the terms set forth in such firm offer to settle such Action. If the Indemnified
Person has assumed the defense pursuant to the previous paragraph, it shall not agree to any settlement without the written consent
of the Client.

 

In the event that the foregoing indemnity is unavailable or insufficient to hold such Indemnified Person(s) harmless, then the
Client shall contribute to amounts paid or payable by such Indemnified Person(s) in respect of such claims, losses and expenses
in such proportion as appropriately reflects the relative benefits received by, and fault of, the Client and such Indemnified
Person(s) in connection with the matters as to which such claims, losses and expenses relate and other equitable considerations.

 

5.                 
Information Provided to TPG Capital BD. In performing the services described above, the Client agrees to furnish
or cause to be furnished to TPG Capital BD such information as TPG Capital BD reasonably believes appropriate to permit TPG Capital
BD to provide the services contemplated by this Agreement to or for the Client (all such information so furnished being the “Information”).
The Client recognizes and confirms that TPG Capital BD (a) will use and rely primarily on the Information and on information available
from generally recognized public sources in performing the services contemplated hereby without having independently verified any
of the same, (b) does not assume responsibility for the accuracy or completeness of the Information and such other information,
and (c) will not make any appraisal of any of the assets or liabilities of the Client.

 

6.                 
Confidentiality. In the event of the consummation and public disclosure of any Transaction, TPG Capital BD shall
have the right, to disclose its participation in the Transaction by listing the client name and logo on its website and in its
marketing materials.

 

Except as required by law or regulation, or pursuant to
order of a court of competent jurisdiction, no analysis, information or advice, whether communicated in written, electronic,
oral or other form, provided by TPG Capital BD to Client or to its Client Representatives or its affiliates (as such term is
defined below) in connection with the Engagement (the “TPG Capital BD Information”) shall be
disclosed by the Client or such Client Representatives, in whole or in part, to any third party, or circulated or referred to
publicly, or used for any purpose other than in connection with the Engagement and the Transaction without the prior written
consent of TPG Capital BD. Except as required by law or regulation, or pursuant to order of a court of competent
jurisdiction, neither party may disclose to any third party the existence or terms of this Agreement without the prior
written consent of the other party. Notwithstanding anything herein to the contrary, the fact of TPG Capital BD’s
Engagement may be disclosed by the Client to its affiliates and its directors, officers, accountants, legal advisors and
employees (the “Client Representatives”) to the extent required for the exclusive purpose of the
Engagement or as required by law, rule or regulation. For avoidance of doubt, TPG Capital BD’s Engagement may be
disclosed in the Client’s registration statement, preliminary prospectus, prospectus and each amendment or supplement
to any of them, as filed with the Securities and Exchange Commission. The Client shall cause and hereby represents that each
of its Client Representatives to whom the TPG Capital BD Information is disclosed is legally bound to keep such TPG Capital
BD Information confidential as provided by this Section 6. The Client shall be responsible for any damages to TPG Capital BD
to the extent caused by breaches of this Section 6 by any of its Client Representatives.

 

     

     

    

 

TPG Pace Tech Opportunities II Corp.

[●], 2021

Page 4

 

TPG Capital BD agrees to keep confidential all material nonpublic
information provided to it by the Client (the “Client Information”). Notwithstanding any provision herein
to the contrary, TPG Capital BD may disclose Client Information to its affiliates, members, officers, accountants, agents, legal
advisors and employees (the “TPG Capital BD Representatives”) to the extent required for the exclusive
purpose of the Engagement. TPG Capital BD shall cause and hereby represents that each of its TPG Capital BD Representatives to
whom the Client Information is disclosed is legally bound to keep such Client Information confidential as provided by this Section
6. TPG Capital BD shall be responsible for any damages to the Client to the extent caused by breaches of this Section 6 by any
of its TPG Capital BD Representatives.

 

TPG Capital BD Information shall be considered public and not
protected by this Agreement if (a) it is or becomes generally available to the public other than as a result of a disclosure by
the Client or a Client Representatives in breach of the terms of this Section 6, (b) it becomes available to the Client on a non-confidential
basis from a source (other than TPG Capital BD or a TPG Capital BD Representative) not known by the Client to be under a duty of
confidentiality to TPG Capital BD, or (c) if it is already known to the Client at the time of disclosure.

 

Nothing in this Agreement shall obligate either party to
refrain from disclosure of TPG Capital BD Information or the Client Information (as the case may be,
 “Confidential Information”) hereunder to the extent such disclosure is required by law, regulation
or judicial process or at the request of a regulatory authority. In the event that any Confidential Information is required
to be disclosed by law, including without limitation, pursuant to the terms of a subpoena or similar document or in
connection with litigation or other legal proceedings, the receiving party of such information hereby agrees, to the extent
permitted by applicable law or regulation, to notify the disclosing party promptly of the existence, terms and circumstances
surrounding such request. To the extent permitted by applicable law or regulation, the receiving party shall allow the
disclosing party, in its sole discretion and at its sole expense, to contest the disclosure of Confidential Information on
the disclosing party’s behalf, and the receiving party will reasonably cooperate with the disclosing party in such
efforts to contest such disclosure at disclosing party’s expense.

 

     

     

    

 

TPG Pace Tech Opportunities II Corp.

[●], 2021

Page 5

 

Each party hereto acknowledges and agrees that irreparable damage
would occur to the other and their respective affiliates in the event any of the provisions of this Section 6 were not performed
in accordance with their specific terms or were otherwise breached and monetary damages would not be a sufficient remedy for any
such non-performance or breach. Accordingly, each party shall be entitled to specific performance of the terms of this Section
6, including, without limitation, an injunction or injunctions to prevent breaches of the provisions of this Section 6 and to enforce
specifically the terms and provisions hereof in any court of competent jurisdiction in New York, New York or the Federal District
Court for the Southern District of New York in addition to any other remedy to which such party may be entitled at law or in equity.

 

The parties hereto agree that the provisions of this Section
6 will survive the expiration or termination of this Agreement for two (2) years after such expiration or termination.

 

7.                 
Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New
York (including, without limitation, provisions concerning limitations of actions), without reference to the conflicts of laws
rules of that or any other jurisdiction, except that Federal law shall also apply to the extent relevant.

 

To the full extent lawful, each of the Client and TPG Capital
BD hereby consents irrevocably to the exclusive jurisdiction of the courts of the State of New York located in the Borough of Manhattan,
New York as having proper subject matter jurisdiction, or the Federal District Court for the Southern District of New York. Any
suit involving any dispute or matter arising under this Agreement may only be brought before a judge in the courts of the State
of New York located in the Borough of Manhattan, New York or the Federal District Court for the Southern District of New York,
and each of the Client and TPG Capital BD consents to the exercise of personal jurisdiction by any such court with respect to such
proceeding.

 

Each of the Client and TPG Capital BD hereby irrevocably
waives trial by jury.

 

8.                 
Miscellaneous.

 

(a)              
The parties understand that TPG Capital BD is being engaged hereunder as an independent contractor to provide the services
described above solely to the Client, and that TPG Capital BD is not acting as a fiduciary of the Client, the security holders
or creditors of the Client or any other persons in connection with the Engagement.

 

(b)               The
Client understands and acknowledges that TPG Capital BD and its affiliates (collectively, the “TPG Capital BD
Group”), engage in providing a wide variety of financial consulting services and other investment banking
products and services to a wide range of institutions and individuals. In the ordinary course of business, the TPG Capital BD
Group and certain of its employees, as well as investment funds in which they may have financial interests, may acquire, hold
or sell, long or short positions, or trade or otherwise effect transactions, in debt, equity, and other securities and
financial instruments (including bank loans and other obligations) of, or investments in, a party that may be involved in the
matters contemplated by this Agreement. With respect to any such securities, financial instruments and/or investments, all
rights in respect of such securities, financial instruments and investments, including any voting rights, will be exercised
by the holder of the rights, in its sole discretion. In addition, the TPG Capital BD Group may currently, and may in the
future, have relationships with parties other than the Client, including parties that may have interests with respect to the
Client, the Transaction or other parties involved in the Transaction, from which conflicting interests or duties may arise.
Although the TPG Capital BD Group in the course of such other activities and relationships may acquire information about the
Client, the Transaction or such other parties, the TPG Capital BD Group shall have no obligation to, and may not be
contractually permitted to, disclose such information, or the fact that the TPG Capital BD Group is in possession of such
information, to the Client or to use such information on the Client’s behalf.

 

     

     

    

 

TPG Pace Tech Opportunities II Corp.

[●], 2021

Page 6

 

(c)              
This Agreement incorporates the entire agreement, and supersedes all prior agreements, arrangements or understandings (whether
oral or written), between the parties with respect to the subject matter hereof, and may not be amended or modified except in writing
signed by each party hereto.

 

(d)              
This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original and all of which
together will be deemed to be one and the same document.

 

(e)              
TPG Capital BD agrees that it shall have no right, title, interest or claim of any kind (each, a “Claim”)
in or to any monies held in the trust account established in connection with the Client’s initial public offering for the
benefit of the Client and holders of shares issued in such offering, and hereby waives any Claim it may have in the future as a
result of, or arising out of, any services provided to the Client and will not seek recourse against such trust account for any
reason whatsoever.

 

     

     

    

 

TPG Pace Tech Opportunities II Corp.

[●], 2021

Page 7

 

If you are in agreement with the foregoing, please sign and
return the attached copy of this Agreement, whereupon this Agreement shall become effective as of the date hereof.

 

	 	Very truly yours,
	 	 
	 	TPG Capital BD, LLC
	 	 
	 	By:	 
	 	 	Name: Alan Head
	 	 	Title:   Chief Compliance Officer

 

Acknowledged and Agreed on

this ____ day of ________, 2021:

 

	TPG Pace Tech Opportunities II Corp.
	 
	By:	 	 
	 	Name: Eduardo Tamraz
	 	Title: Executive Vice President of Corporate Development and Secretaryex_235249.htm

Exhibit 10.3

 

 

BioLargo, Inc.

2021 Engagement Extension Agreement

 

This Engagement Extension Agreement (the “Extension”) references the Engagement Agreement and Scope Letter dated February 1, 2008 (“2008 Agreement”) by and between CFO 911 (Charles K. Dargan II) (the “Advisor)” and BioLargo, Inc. (the “Company”), and written extensions to the Agreement (the “Prior Extensions”), pursuant to which Charles K. Dargan II has been serving as the Company’s Chief Financial Officer. The parties desire to extend the terms of the prior agreements for a period of one year, pursuant to the terms of this Extension. The 2008 Agreement, the Prior Extensions and this Extension are collectively referred to herein as the “Agreement”.

 

Except as expressly amended or modified herein, all terms and conditions set forth in the 2008 Agreement and Prior Extensions are incorporated herein by this reference and continue to be in full force and effect. The parties acknowledge and confirm that Mr. Dargan has been serving as the Company’s Chief Financial Officer since February 1, 2008, and that he continues to do so through today’s date. The prior extension expired on January 31, 2021. The Advisor and the Company hereby agree to extend the Term of the engagement as set forth in the 2008 Agreement for one year, to expire January 31, 2022 (the “Extended Term”). Notwithstanding the foregoing, either party may terminate this Agreement upon 30 days’ written notice. At the end of the Extended Term, unless this Agreement has been terminated, Advisor shall continue to serve as the Company’s Chief Financial Officer until new terms are agreed upon, or until one of the parties gives notice to terminate the relationship.

 

During the Extended Term, the Advisor shall receive the compensation as set forth in this Extension. The Company shall issue to Charles K. Dargan II an option (the “Option”) to purchase 25,000 shares of the Company’s common stock for each month during the Extended Term (thus, an option to purchase 300,000 shares, representing 12 months). The Option shall vest over the period of the Extended Term, with 25,000 shares having vested as of March 18, 2021, and the remaining shares to vest 25,000 shares monthly beginning March 31, 2021, and each month thereafter, so long as this Agreement is in full force and effect. The Option shall be exercisable at the closing price of the Company’s common stock as of the date signed by Advisor below (the “Grant Date”), and shall expire ten years from the grant date. The Option shall be issued pursuant to the Company’s 2018 Equity Incentive Plan.

 

AGREED TO AND ACCEPTED AS OF THE DATE LAST SIGNED BELOW

 

	CFO 911	 	BioLargo, Inc.	 
	18851 NE 29TH Avenue, Suite 700	 	14921 Chestnut Street	 
	Aventura, FL 33180	 	Westminster, CA 92683	 
	 	 	 	 

 

	By:	 	 	By:	 	 

	Name: Mr. Charles K. Dargan II	 	Name: Mr. Dennis P. Calvert	 
	Title: Chief Executive Officer	 	Title: President/CEO	 
	Date signed: ______________	 	Date signed: _____________	 
	Stock price on date signed: ______

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