Document:

Exhibit 10.7

 

SECURITIES PURCHASE AGREEMENT

 

This Securities Purchase Agreement (this “Agreement”),
effective as of          , 2021, is made and entered into by and between Mountain & Co. Sponsor One LLP, a Cayman Islands limited liability
partnership (the “Seller”), Mountain & Co. I Sponsor LLC, a Cayman Islands limited liability company (the “Buyer”)
and Mountain & Co. I Acquisition Corp., a Cayman Islands exempted company (the “Company”).

 

RECITALS:

 

WHEREAS, the Buyer wishes to purchase an
aggregate of 5,750,000 Class B ordinary shares (the “Shares”), par value $0.0001 per share (“Class B Ordinary Shares”),
of the Company, and the Seller wishes to sell and transfer the Shares to the Buyer, on the terms and subject to the conditions set forth
in this Agreement.

 

AGREEMENT:

 

NOW, THEREFORE, in consideration of the
premises, representations, warranties and the mutual covenants contained in this Agreement, and for other good and valuable consideration,
the receipt, sufficiency and adequacy of which are hereby acknowledged, the parties hereto agree as follows:

 

ARTICLE I

DEFINITIONS

 

The terms defined in this Article I shall
have for all purposes of this Agreement the respective meanings set forth below:

 

“Agreement” shall have the meaning
set forth in the preamble to this Agreement.

 

“Buyer” shall have the meaning set
forth in the preamble to this Agreement.

 

“Class B Ordinary Shares” shall have
the meaning set forth in the recitals to this Agreement.

 

“Closing” shall have the meaning set
forth in Section 2.3 of this Agreement.

 

“Closing Date” shall have the meaning
set forth in Section 2.3 of this Agreement.

 

“Company” shall have the meaning set
forth in the preamble to this Agreement.

 

“Consent” means any consent, approval,
notification, waiver, or other similar action that is necessary or convenient.

 

“Governmental Body” shall mean any
legislature, agency, bureau, branch, department, division, commission, court, tribunal or other similar recognized organization or body
of any federal, state, county, municipal, local or foreign government or other similar recognized organization or body exercising similar
powers or authority.

 

“Law” shall mean any law (statutory,
common or otherwise), constitution, ordinance, rule, regulation, executive order or other similar authority enacted, adopted, promulgated
or applied by any Governmental Body.

 

“Lien” shall
mean a mortgage, deed of trust, pledge, hypothecation, assignment, encumbrance, charge, restriction, lien (statutory or otherwise, including,
without limitation, any lien for taxes), security interest, preference, participation interest, priority or security agreement or preferential
arrangement of any kind or nature whatsoever, including, without limitation, any conditional sale or other title retention agreement,
any financing lease having substantially the same economic effect as any of the foregoing and the filing of any document under the law
of any applicable jurisdiction to evidence any of the foregoing, other than (i) statutory, mechanics’ or other Liens incurred in
the Seller’s ordinary course of business or (ii) Liens for taxes incurred but not yet due.

 

     

     

    

 

“Order” shall mean an order, ruling,
decision, award, judgment, injunction or other similar determination or finding by, before or under the supervision of any Governmental
Body or arbitrator.

 

“Permit” shall mean a permit, license,
certificate, waiver, notice or similar authorization.

 

“Purchase Price” shall have the meaning
set forth in Section 2.2 of this Agreement.

 

“SEC” shall mean the United States
Securities and Exchange Commission.

 

“Seller” shall have the meaning set
forth in the preamble to this Agreement.

 

“Securities Act” shall mean the United
States Securities Act of 1933, as amended, or any successor federal statute, and the applicable rules and regulations promulgated and
in effect from time to time thereunder.

 

“Shares” shall have the meaning set
forth in the recitals to this Agreement.

 

ARTICLE II

PURCHASE OF THE SHARES

 

Section 2.1 Purchase and Sale of the Shares.
Subject to the terms and conditions hereof and in reliance upon the representations and warranties of the parties contained herein, simultaneous
with the execution hereof, the Seller shall sell and transfer to the Buyer, and the Buyer shall purchase and accept, the Shares, in consideration
of the payment of the Purchase Price noted herein.

 

Section 2.2 Purchase Price. As payment in
full for the Shares being purchased under this Agreement, prior to the execution hereof, the Buyer shall pay $25,000 to, and at the direction
of, the Seller by wire transfer of immediately available funds or by such other method as may be reasonably acceptable to the Seller (the
 “Purchase Price”).

 

Section 2.3 Closing. The closing of the
purchase and sale of the Shares (the “Closing”) shall be held on the date of this Agreement (“Closing Date”) at
the offices of Davis Polk & Wardwell London LLP, 5 Aldermanbury Square, London EC2V 7HR, United Kingdom, or such other place as may
be agreed upon by the parties hereto.

 

Section 2.4 Closing Deliveries. All actions
taken at the Closing shall be deemed to have been taken simultaneously.

 

(a) Buyer Deliveries. At the Closing the
Buyer shall deliver to the Seller the Purchase Price.

 

(b) Seller Deliveries. At the Closing, or
within a reasonable time after the Closing, the Seller shall sell and transfer to the Buyer the Shares and shall cause the Company to
make the necessary entries in the Register of Members of the Company.

 

Section 2.5 Further Assurances. The parties
hereto shall execute and deliver such additional documents and take such additional actions as any party reasonably may deem to be practical
and necessary in order to consummate the transactions contemplated by this Agreement.

 

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Section 2.6 Legend. Any certificate evidencing
the Shares and any certificate issued in exchange for or upon the transfer of any Shares shall be stamped or otherwise imprinted with
a legend in substantially the following form:

 

“THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION, AND MAY NOT BE TRANSFERRED IN VIOLATION
OF SUCH ACT AND LAWS.”

 

“THE SECURITIES REPRESENTED HEREBY ARE SUBJECT TO ADDITIONAL
RESTRICTIONS ON TRANSFER SET FORTH IN THE LETTER AGREEMENT BY AND AMONG THE COMPANY, MOUNTAIN & CO. I SPONSOR LLC AND THE OTHER PARTIES
THERETO. COPIES OF SUCH AGREEMENT MAY BE OBTAINED FROM THE COMPANY AT THE COMPANY’S PRINCIPAL PLACE OF BUSINESS WITHOUT CHARGE.”

 

Section 2.8 Trust Waiver. Notwithstanding
anything herein to the contrary, the Buyer hereby waives any and all right, title, interest or claim of any kind (“Claim”)
in or to any distribution of or from the trust account to be established in which proceeds of the initial public offering (the “IPO”)
conducted by the Company (including the deferred underwriting discounts and commissions) and proceeds of the sale of the warrants issued
in a private placement to occur in connection with the consummation of the IPO are to be deposited, as described in greater detail in
the registration statement and prospectus to be filed with the SEC in connection with the IPO, and hereby agrees not to seek recourse,
reimbursement, payment or satisfaction for any Claim against the trust account for any reason whatsoever.

 

Section 2.9 Surrender and Cancellation of Shares.

 

(a) In the event the over-allotment option (the
 “Over-Allotment Option”) granted to the representative(s) of the underwriters of the Company’s IPO is not exercised
in full, the Buyer acknowledges and agrees that it shall surrender for cancellation 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 surrender, the Buyer (and all other initial shareholders prior to the IPO, if any) will own an aggregate number of Shares (not including
ordinary shares issuable upon exercise of any warrants or any ordinary shares purchased by the Buyer in the Company’s IPO or in
the aftermarket) equal to 20% of the issued and outstanding ordinary shares of the Company immediately following the IPO.

 

(b) If any of the Shares are surrendered and cancelled
in accordance with this Section 2.9, then after such time the Buyer (or successor in interest) shall no longer have any rights as a holder
of such Shares, and the Company shall take such action as is appropriate to cancel such Shares.

 

ARTICLE III

REPRESENTATIONS AND WARRANTIES OF THE BUYER

 

The Buyer represents and warrants that the statements
contained in this ARTICLE III are correct and complete as of the date of this Agreement.

 

Section 3.1 Investment Representations.

 

(a) The ultimate parent of the Buyer is an “accredited
investor” as defined in Rule 501 of Regulation D under the Securities Act.

 

(b) The Buyer has received, has thoroughly read,
is familiar with and understands the contents of this Agreement.

 

(c) The Buyer hereby acknowledges
that an investment in the Shares involves certain significant risks. The Buyer acknowledges that there is a substantial risk that it
will lose all or a portion of its investment and that it is financially capable of bearing the risk of such investment for an indefinite
period of time. The Buyer has no need for liquidity in its investment in the Shares for the foreseeable future and is able to bear the
risk of that investment for an indefinite period. The Buyer understands that there presently is no public market for the Shares and none
is anticipated to develop in the foreseeable future. The Buyer’s present financial condition is such that the Buyer is under no
present or contemplated future need to dispose of any portion of the Shares purchased hereby to satisfy any existing or contemplated
undertaking, need or indebtedness. The Buyer’s overall commitment to investments which are not readily marketable is not disproportionate
to its net worth and the investment in the Company will not cause such overall commitment to become excessive.

 

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(d) The Buyer acknowledges that the Shares have
not been and will not be registered under the Securities Act, or any state securities act, and are being sold on the basis of exemptions
from registration under the Securities Act and applicable state securities acts, except those state securities acts that require registration
of the Shares thereunder. Reliance on such exemptions, where applicable, is predicated in part on the accuracy of the Buyer’s representations
and warranties set forth herein. The Buyer acknowledges and hereby agrees that the Shares will not be transferable under any circumstances
unless the Buyer either registers such transfer of the Shares in accordance with federal and state securities laws or finds and complies
with an available exemption under such laws. Accordingly, the Buyer hereby acknowledges that there can be no assurance that it will be
able to liquidate its investment in the Company.

 

(e) There are substantial risk factors pertaining
to an investment in the Company. The Buyer acknowledges that it has read the information set forth above regarding certain of such risks
and is familiar with the nature and scope of all such risks, including, without limitation, risks arising from the fact that the Company
is an entity with no operating history and no financial resources; and the Buyer is fully able to bear the economic risks of such investment
for an indefinite period, and can afford a complete loss thereof.

 

(f) The Buyer has been given the opportunity to
(i) ask questions of and receive answers from the Seller, the Company and their respective designated representatives concerning the terms
and conditions of the offering, the Company and the business and financial condition of the Company and (ii) obtain any additional information
that the Seller or Company possesses or can acquire without unreasonable effort or expense that is necessary to assist the Buyer in evaluating
the advisability of the purchase of the Shares and an investment in the Company. The Buyer further represents and warrants that, prior
to signing this Agreement, it has asked such questions, received such answers and obtained such information as it has deemed necessary
or advisable to evaluate the merits and risks of the purchase of the Shares and an investment in the Company. The Buyer is not relying
on any oral representation made by any person as to the Company or its operations, financial condition or prospects.

 

(g) The Buyer understands that no federal, state
or other governmental authority has made any recommendation, findings or determination relating to the merits of an investment in the
Company.

 

ARTICLE IV

REPRESENTATIONS AND WARRANTIES OF THE SELLER

 

The Seller represents and warrants that the statements
contained in this ARTICLE IV are correct and complete as of the date of this Agreement.

 

Section 4.1 Incorporation and Good Standing.
The Seller is duly incorporated, validly existing, and in good standing under the laws of the Cayman Islands.

 

Section 4.2 Power and
Authority; Enforceability. This Agreement constitutes the legal, valid, and binding obligation of the Seller, enforceable against
the Seller in accordance with its terms. The Seller has full power and authority to execute and deliver this Agreement and to perform
its obligations hereunder. The Seller has taken all actions necessary to authorize the execution and delivery of this Agreement, the
performance of its obligations hereunder, and the consummation of the transactions contemplated hereby. This Agreement has been duly
authorized, executed, and delivered by, and is enforceable against, the Seller.

 

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Section 4.3 No Violation; Necessary Approvals.
Neither the execution and delivery of this Agreement by the Seller, nor the consummation or performance by the Seller of any of the transactions
contemplated hereby, will: (a) with or without notice or lapse of time, constitute, create or result in a breach or violation of, default
under, loss of benefit or right under or acceleration of performance of any obligation required under any Law, Order, contract or Permit
to which the Seller is a party or by which it is bound or any of its assets are subject, or any provision of the Seller’s organizational
documents as in effect on the Closing Date, (b) result in the imposition of any lien, claim or encumbrance upon any assets owned by the
Seller; (c) require any Consent under any contract or organizational document to which the Seller is a party or by which it is bound;
or (d) require any Permit under any Law or Order other than (i) required filings, if any, with the SEC and (ii) notifications or other
filings with state or federal regulatory agencies after the Closing that are necessary or convenient and do not require approval of the
agency as a condition to the validity of the transactions contemplated hereunder; or (e) trigger any rights of first refusal, preferential
purchase or similar rights with respect to any of the Shares.

 

Section 4.4 Authorization of the Shares.
The Shares have been duly authorized and are duly and validly issued, fully paid and non-assessable Class B Ordinary Shares of the Company
and are free and clear of all Liens and claims, other than restrictions on transfer imposed by the Securities Act and applicable state
securities laws.

 

ARTICLE V

MISCELLANEOUS

 

Section 5.1 Entire Agreement. This Agreement,
together with any certificates, documents, instruments and writings that are delivered pursuant hereto, 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.

 

Section 5.2 Successors. All of the terms,
agreements, covenants, representations, warranties, and conditions of this Agreement are binding upon, and inure to the benefit of and
are enforceable by, the parties hereto and their respective successors.

 

Section 5.3 Assignments. Except as otherwise
provided herein, no party hereto may assign either this 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 Section 5.3 shall be void and ineffectual
and shall not operate to transfer or assign any interest or title to the purported assignee.

 

Section 5.4 WAIVER OF
JURY TRIAL. THE PARTIES HERETO EACH HEREBY AGREE TO WAIVE THEIR RESPECTIVE RIGHTS TO JURY TRIAL OF ANY DISPUTE BASED UPON OR
ARISING OUT OF THIS AGREEMENT OR ANY OTHER AGREEMENTS RELATING HERETO OR ANY DEALINGS AMONG THEM RELATING TO THE TRANSACTIONS. THE
SCOPE OF THIS WAIVER IS INTENDED TO BE ALL ENCOMPASSING OF ANY AND ALL ACTIONS THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE
SUBJECT MATTER OF THE TRANSACTIONS, INCLUDING, CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND
STATUTORY CLAIMS. THE PARTIES HERETO EACH ACKNOWLEDGE THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS
RELATIONSHIP AND THAT THEY WILL CONTINUE TO RELY ON THE WAIVER IN THEIR RELATED FUTURE DEALINGS. EACH PARTY HERETO FURTHER
REPRESENTS AND WARRANTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT EACH KNOWINGLY AND VOLUNTARILY WAIVES ITS
JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. NOTWITHSTANDING ANYTHING TO THE CONTRARY HEREIN, THIS WAIVER IS
IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED ORALLY OR IN WRITING, AND THE WAIVER WILL APPLY TO ANY AMENDMENTS, RENEWALS,
SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING HERETO. IN THE EVENT OF AN ACTION,
THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO TRIAL BY A COURT.

 

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Section 5.5 Counterparts. This Agreement
may be executed in two or more counterparts, each of which will be deemed an original but all of which together will constitute one and
the same instrument.

 

Section 5.6 Headings. The article and section
headings contained in this Agreement are inserted for convenience only and will not affect in any way the meaning or interpretation of
this Agreement.

 

Section 5.7 Governing Law. This Agreement,
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 Delaware, without
giving effect to its choice of laws principles.

 

Section 5.8 Amendments. This Agreement may
not be amended, modified or waived as to any particular provision, except by a written instrument executed by the parties hereto.

 

Section 5.9 Severability. The provisions
of this Agreement will be deemed severable and the invalidity or unenforceability of any provision will not affect the validity or enforceability
of the other provisions hereof; provided that if any provision of this Agreement, as applied to any party hereto or to any circumstance,
is adjudged by a Governmental Body, arbitrator, or mediator not to be enforceable in accordance with its terms, the parties hereto agree
that the Governmental Body, arbitrator, or mediator making such determination will have the power to modify the provision in a manner
consistent with its objectives such that it is enforceable, and/or to delete specific words or phrases, and in its reduced form, such
provision will then be enforceable and will be enforced.

 

Section 5.10 Expenses. Except as otherwise
expressly provided in this Agreement, each party hereto will bear its own costs and expenses incurred in connection with the preparation,
execution and performance of this Agreement and the consummation of the transactions contemplated hereby, including all fees and expenses
of agents, representatives, financial advisors, legal counsel and accountants.

 

Section 5.11 Construction. The parties hereto
have participated jointly in the negotiation and drafting of this Agreement. If an ambiguity or question of intent or interpretation arises,
this Agreement will be construed as if drafted jointly by the parties hereto and no presumption or burden of proof will arise favoring
or disfavoring any party hereto because of the authorship of any provision of this Agreement. Any reference to any federal, state, local,
or foreign Law will be deemed also to refer to Law as amended and all rules and regulations promulgated thereunder, unless the context
requires otherwise. The words “include,” “includes,” and “including” will be
deemed to be followed by “without limitation.” Pronouns in masculine, feminine, and neuter genders will be construed
to include any other gender, and words in the singular form will be construed to include the plural and vice versa, unless the context
otherwise requires. The words “this Agreement,” “herein,” “hereof,” “hereby,”
 “hereunder,” and words of similar import refer to this Agreement as a whole and not to any particular subdivision unless
expressly so limited. The parties hereto intend that each representation, warranty, and covenant contained herein will have independent
significance. If any party hereto has breached any representation, warranty, or covenant contained herein in any respect, the fact that
there exists another representation, warranty or covenant relating to the same subject matter (regardless of the relative levels of specificity)
which such party hereto has not breached will not detract from or mitigate the fact that such party hereto is in breach of the first representation,
warranty, or covenant.

 

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Section 5.12 Waiver. No waiver by any party
hereto of any default, misrepresentation, or breach of warranty or covenant hereunder, whether intentional or not, may be deemed to extend
to any prior or subsequent default, misrepresentation, or breach of warranty or covenant hereunder or affect in any way any rights arising
because of any prior or subsequent occurrence.

 

[Signature page follows]

 

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

 

	 	SELLER:
	 	 
	 	MOUNTAIN & CO. SPONSOR ONE LLP
	 	 
	 	By:	 
	 	Name:	Darryl E. Smith
	 	Title:	Managing Director
	 	 	 
	 	
    BUYER:

     

    MOUNTAIN & CO. I SPONSOR LLC

	 	 
	 	By:	 
	 	Name:	Dr. Cornelius Boersch
	 	Title:	Director
	 	 	 
	 	By:	 
	 	Name:	Daniel Wenzel
	 	Title:	Director

 

	 	COMPANY:

 

	 	MOUNTAIN & CO. I ACQUISITION CORP.

 

	 	By:	 
	 	Name:	Dr. Cornelius Boersch
	 	Title:	Director
	 	 
	 	By:	 
	 	Name:	Daniel Wenzel
	 	Title:	Director

 

[Signature Page to SPA]Exhibit 10.8

 

, 2021

Mountain & Co. I Acquisition Corp.

4001 Kennett Pike, Suite 302

Wilmington, Delaware 19807

 

Re:    Initial Public Offering

 

Ladies and Gentlemen:

 

This letter (this “Letter Agreement”) is
being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”) entered
into by and between Mountain & Co. I Acquisition Corp., a Cayman Islands exempted company (the “Company”),
and Credit Suisse Securities (USA) LLC, as underwriter (the “Underwriter”), relating to an underwritten initial
public offering (the “Public Offering”), of up to 20,000,000 of the Company’s units (including up
to 3,000,000 units that may be purchased to cover over-allotments, if any) (the “Units”), each comprised of
one of the Company’s Class A ordinary shares, par value $0.0001 per share (the “Class A Ordinary Shares”),
and one-half of one redeemable warrant. Each whole warrant (each, a “Warrant”) entitles the holder thereof
to purchase one Class A Ordinary Share at a price of $11.50 per share, subject to adjustment as described in the Prospectus (as defined
below). The Units will be sold in the Public Offering pursuant to a registration statement on Form S-1 and prospectus (the “Prospectus”)
filed by the Company with the U.S. Securities and Exchange Commission (the “Commission”) and the Company has
applied to have the Units listed on the Nasdaq Stock Market LLC. Certain capitalized terms used herein are defined in paragraph 14 hereof.

 

In order to induce the Company and the Underwriter to enter into the
Underwriting Agreement and to proceed with the Public Offering, and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, each of Mountain & Co. I Sponsor LLC (the “Sponsor”) and the undersigned
individuals, each of whom is, or will be, a member of the Company’s board of directors and/or management team or an employee of
the Company (each of the undersigned individuals, an “Insider” and collectively, the “Insiders”),
hereby agrees with the Company as follows:

 

		1.	It is acknowledged and agreed that the Company shall not enter into a definitive agreement regarding a proposed Business Combination
without the prior written consent of the Sponsor.

 

		2.	The Sponsor and each Insider agrees with the Company that if the Company seeks shareholder approval of a proposed Business Combination,
then in connection with such proposed Business Combination, it, he or she shall (i) vote any Ordinary Shares (as defined below) owned
by it, him or her in favor of any proposed Business Combination and (ii) not redeem any Ordinary Shares owned by it, him or her in
connection with such shareholder approval. If the Company seeks to consummate a proposed Business Combination by engaging in a tender
offer, the Sponsor and each Insider agrees that it, he or she will not sell or tender any Ordinary Shares owned by it, him or her in connection
therewith.

 

		3.	The Sponsor and each Insider hereby agrees with the Company that in the event that the Company fails
                                                            to consummate a Business Combination within 18 months from the closing of the Public Offering (or up to 24 months from the closing
                                                            of this offering if we extend the period of time to consummate a Business Combination), or such later period approved by the
                                                            Company’s shareholders in accordance with the Company’s amended and restated memorandum and articles of association (as
                                                            it may be amended from time to time, the “Charter”), the Sponsor and each Insider shall take all
                                                            reasonable steps to cause the Company to (i) cease all operations except for the purpose of winding up, (ii) as promptly
                                                            as reasonably possible but not more than ten (10) business days thereafter, redeem 100% of the Class A Ordinary Shares
                                                            sold as part of the Units in the Public Offering (the “Offering Shares”), at a per-share price, payable in
                                                            cash, equal to the aggregate amount then on deposit in the Trust Account (as defined below), including interest earned on the funds
                                                            held in the Trust Account (less taxes payable and up to $100,000 of interest to pay dissolution expenses), divided by the number of
                                                            then outstanding Offering Shares, which redemption will completely extinguish all Public Shareholders’ (as defined below)
                                                            rights as shareholders (including the right to receive further liquidating distributions, if any), and (iii) as promptly as
                                                            reasonably possible following such redemption, subject to the approval of the Company’s remaining shareholders and the
                                                            Company’s board of directors, dissolve and liquidate, subject, in each case, to the Company’s obligations under Cayman
                                                            Islands law to provide for claims of creditors and in all cases subject to the other requirements of applicable law. The Sponsor and
                                                            each Insider agrees to not propose any amendment to the Charter (A) to modify the substance or timing of the Company’s
                                                            obligation to allow redemption in connection with its initial business combination or to redeem 100% of the Offering Shares if the
                                                            Company does not complete a Business Combination within the required time period set forth in the Charter or (B) with respect to any
                                                            other material provisions relating to shareholders’ rights or pre-initial Business Combination activity, unless the Company
                                                            provides its Public Shareholders with the opportunity to redeem their Offering Shares upon approval of any such amendment at a
                                                            per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on
                                                            the funds held in the Trust Account and not previously released to the Company to pay its taxes (less up to $100,000 of interest to
                                                            pay dissolution expenses), divided by the number of then outstanding Offering Shares.

 

     

     

    

 

The Sponsor and each Insider acknowledges that it, he or she
has no right, title, interest or claim of any kind in or to any monies held in the Trust Account or any other asset of the Company as
a result of any liquidation of the Company with respect to the Founder Shares held by it, him or her. The Sponsor and each Insider hereby
further waives, with respect to any Ordinary Shares held by it, him or her, if any, any redemption rights it, he or she may have in connection
with (a) the consummation of a Business Combination, including, without limitation, any such rights available in the context of a
shareholder vote to approve such Business Combination, or (b) a shareholder vote to approve an amendment to the Charter (A) to modify
the substance or timing of the Company’s obligation to allow redemption in connection with its initial business combination or to
redeem 100% of the Offering Shares if the Company has not consummated a Business Combination within the time period set forth in the Charter
or (B) with respect to any other material provisions relating to shareholders’ rights or pre-initial Business Combination activity
or in the context of a tender offer made by the Company to purchase Offering Shares (although the Sponsor and the Insiders shall be entitled
to redemption and liquidation rights with respect to any Offering Shares it or they hold if the Company fails to consummate a Business
Combination within the time period set forth in the Charter). The undersigned acknowledges and agrees that there will be no distribution from the Trust Account with respect to any warrants, all rights
of which will terminate on the Company’s liquidation.

 

		4.	The undersigned acknowledges and agrees that prior to entering into a definitive agreement for a Business Combination with a target
business that is affiliated with the undersigned or any other Insiders of the Company or their affiliates, such transaction must be approved
by a majority of the Company’s disinterested independent directors and the Company must obtain an opinion from an independent investment
banking firm or an independent valuation or appraisal firm that such Business Combination is fair to the Company from a financial point
of view.

 

		5.	During the period commencing on the effective date of the Underwriting Agreement and ending 180 days after such date, the Sponsor
and each Insider shall not, without the prior written consent of the Underwriter, (i) sell, offer to sell, contract or agree to sell,
hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree to dispose of, directly or indirectly, or establish
or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations of the Commission
promulgated thereunder, with respect to, any Units, Ordinary Shares (including, but not limited to, Founder Shares), Warrants or any securities
convertible into, or exercisable, or exchangeable for, Ordinary Shares (but excluding Units and Ordinary Shares purchased in the Public
Offering or thereafter) owned by it, him or her, (ii) enter into any swap or other arrangement that transfers to another, in whole
or in part, any of the economic consequences of ownership of any Units, Ordinary Shares (including, but not limited to, Founder Shares),
Warrants or any securities convertible into, or exercisable, or exchangeable for, Ordinary Shares owned by it, him or her, whether any
such transaction is to be settled by delivery of such securities, in cash or otherwise, or (iii) publicly announce any intention
to effect any transaction specified in clause (i) or (ii). The provisions of this paragraph will not apply if the
release or waiver is effected solely to permit a transfer not for consideration and the transferee has agreed in writing to be bound by
the same terms described in this Letter Agreement to the extent and for the duration that such terms remain in effect at the time of the
transfer.

 

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		6.	In the event of the liquidation of the Trust Account upon the failure of the Company to consummate its initial Business Combination
within the time period set forth in the Charter, the Sponsor (the “Indemnitor”), which for purposes of clarification
shall not extend to any other shareholders, members or managers of the Sponsor, or any of the other undersigned, agrees to indemnify and
hold harmless the Company against any and all loss, liability, claim, damage and expense whatsoever (including, but not limited to, any
and all legal or other expenses reasonably incurred in investigating, preparing or defending against any litigation, whether pending or
threatened) to which the Company may become subject as a result of any claim by (i) any third party for services rendered or products
sold to the Company or (ii) any prospective target business with which the Company has entered into a written letter of intent, confidentiality
or other similar agreement or Business Combination agreement (a “Target”); provided, however,
that such indemnification of the Company by the Indemnitor (x) shall apply only to the extent necessary to ensure that such claims
by a third party or a Target do not reduce the amount of funds in the Trust Account to below the lesser of (i) $10.10 per Offering Share
and (ii) the actual amount per Offering Share held in the Trust Account as of the date of the liquidation of the Trust Account, if
less than $10.10 per Offering Share is then held in the Trust Account due to reductions in the value of the trust assets, in each case,
less taxes payable, (y) shall not apply to any claims by a third party or a Target which executed a waiver of any and all rights
to the monies held in the Trust Account (whether or not such waiver is enforceable) and (z) shall not apply to any claims under the
Company’s indemnity of the Underwriter against certain liabilities, including liabilities under the Securities Act of 1933, as amended.
In the event that any such executed waiver is deemed to be unenforceable against such third party, the Indemnitor shall not be responsible
to the extent of any liability for such third party claims. The Indemnitor shall have the right to defend against any such claim with
counsel of its choice reasonably satisfactory to the Company if, within 15 days following written receipt of notice of the claim to the
Indemnitor, the Indemnitor notifies the Company in writing that it shall undertake such defense.

 

		7.	To the extent that the Underwriter does not exercise its over-allotment option to purchase up to an additional 3,000,000 Units within
45 days from the date of the Prospectus (and as further described in the Prospectus), the Sponsor agrees to forfeit, at no cost, a number
of Founder Shares equal to 750,000 multiplied by a fraction, (i) the numerator of which is 3,000,000 minus the number of Units purchased
by the Underwriter upon the exercise of its over-allotment option, and (ii) the denominator of which is 3,000,000. The forfeiture
will be adjusted to the extent that the over-allotment option is not exercised in full by the Underwriter so that the Founder Shares will
represent an aggregate of 20% of the Company’s issued and outstanding Ordinary Shares after the Public Offering (not including Class A
Ordinary Shares underlying the Warrants or Private Placement Warrants (as defined below)). The Initial Shareholders further agree that
to the extent that the size of the Public Offering is increased or decreased, the Company will purchase or sell Units or effect a share
repurchase or share capitalization, as applicable, immediately prior to the consummation of the Public Offering in such amount as to maintain
the number of Founder Shares at 20% of the issued and outstanding Ordinary Shares upon the consummation of the Public Offering. In connection
with such increase or decrease in the size of the Public Offering, then (A) the references to 3,000,000 in the numerator and denominator
of the formula in the first sentence of this paragraph shall be changed to a number equal to 15% of the number of Class A Ordinary Shares
included in the Units issued in the Public Offering and (B) the reference to 750,000 in the formula set forth in the first sentence
of this paragraph shall be adjusted to such number of Founder Shares that the Sponsor would have to surrender to the Company in order
for the number of Founder Shares to be equal to an aggregate of 20% of the Company’s issued and outstanding Ordinary Shares after
the Public Offering (not including Class A Ordinary Shares underlying the Warrants or Private Placement Warrants).

 

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		8.	The Sponsor and each Insider hereby agrees and acknowledges that: (i) the Underwriter and the Company would be irreparably injured
in the event of a breach by such Sponsor or an Insider of its, his or her obligations under paragraphs 2, 3, 5, 6, 7, 9(a), 9(b) and 12,
as applicable, of this Letter Agreement, (ii) monetary damages may not be an adequate remedy for such breach and (iii) the non-breaching
party shall be entitled to injunctive relief, in addition to any other remedy that such party may have in law or in equity, in the event
of such breach.

 

		9.	(a) The Sponsor and each Insider agrees that it, he or she shall not Transfer any Founder Shares (or any Class A Ordinary Shares
issuable upon conversion thereof) until the earlier of (A) one year after the completion of the Company’s initial Business
Combination and (B) subsequent to the Business Combination, (x) if the closing price of the Class A Ordinary Shares equals
or exceeds $12.00 per share (as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like)
for any 20 trading days within any 30-trading day period commencing at least 150 days after the Company’s initial Business Combination
or (y) the date on which the Company completes a liquidation, merger, share exchange or other similar transaction that results in
all of the Company’s shareholders having the right to exchange their Class A Ordinary Shares for cash, securities or other
property (the “Founder Shares Lock-up Period”).

 

(b) The Sponsor and each Insider agrees that it, he or she
shall not Transfer any Private Placement Warrants, Working Capital Warrants or Extension Loan Warrants (or any Class A Ordinary Shares underlying the Private Placement Warrants), until
30 days after the completion of a Business Combination (the “Private Placement Warrants Lock-up Period”, together
with the Founder Shares Lock-up Period, the “Lock-up Periods”).

 

(c) Notwithstanding the provisions set forth in paragraphs
9(a) and (b), Transfers of the Founder Shares, Private Placement Warrants, Working Capital Warrants,  Extension Loan Warrants and the Class A Ordinary Shares underlying the Private
Placement Warrants or the Founder Shares and that are held by the Sponsor, any Insider or any of their permitted transferees (that have
complied with this paragraph 9(c)), are permitted (a) to the Company’s officers or directors, any affiliate or family member
of any of the Company’s officers or directors, any affiliate of the Sponsor or to any members of the Sponsor or any affiliates of
such members and funds and accounts advised by such members; (b) in the case of an individual, by gift to a member of such individual’s
immediate family or to a trust, the beneficiary of which is a member of such individual’s immediate family, an affiliate of such
individual or to a charitable organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon
death of such individual; (d) in the case of an individual, pursuant to a qualified domestic relations order; (e) by private
sales or transfers made in connection with any forward purchase agreement or similar arrangement or in connection with the consummation
of an initial Business Combination at prices no greater than the price at which the securities were originally purchased; (f) in
the event of the Company’s liquidation prior to the completion of an initial Business Combination; (g) by virtue of the laws
of the Cayman Islands or the Sponsor’s limited liability company agreement upon dissolution of the Sponsor; or (h) in the event
of the Company’s liquidation, merger, share exchange or other similar transaction which results in all of the Company’s shareholders
having the right to exchange their Class A Ordinary Shares for cash, securities or other property subsequent to the Company’s
completion of an initial Business Combination; provided, however, that in the case of clauses (a) through (e) or (g),
these permitted transferees must enter into a written agreement with the Company agreeing to be bound by the transfer restrictions herein
and the other restrictions contained in this Agreement (including provisions relating to voting, the Trust Account and liquidating distributions).

 

		10.	Each of the Insiders who is or is nominated to be a director or officer of the Company agrees to serve in such capacity until the
earlier of the consummation by the Company of an initial Business Combination, the liquidation of the Company, or his or her removal,
death or incapacity. The Sponsor and each Insider represents and warrants that it, he or she has never been suspended or expelled from
membership in any securities or commodities exchange or association or had a securities or commodities license or registration denied,
suspended or revoked. For each Insider who is or is nominated to be a director or officer of the Company, such Insider’s biographical
information furnished to the Company (including any such information included in the Prospectus) is true and accurate in all material respects and does not omit any material
information with respect to the Insider’s background. For each Insider who is or is nominated to be a director or officer of the
Company, such Insider’s questionnaire furnished to the Company is true and accurate in all respects. The Sponsor and each Insider
represents and warrants that: it, he or she is not subject to or a respondent in any legal action for, any injunction, cease-and-desist
order or order or stipulation to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction;
it, he or she has never been convicted of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any financial
transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and it, he or she is not
currently a defendant in any such criminal proceeding.

 

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		11.	The Company agrees that, except as disclosed in the Prospectus, neither the Sponsor nor any Insider or employee, nor any affiliate
of the Sponsor or any Insider or employee of the Company, shall receive from the Company any finder’s fee, reimbursement, consulting
fee, non-cash payments, monies in respect of any repayment of a loan or other compensation prior to, or in connection with any services
rendered in order to effectuate, the consummation of the Company’s initial Business Combination (regardless of the type of transaction
that it is), other than the following, none of which will be made from the proceeds held in the Trust Account prior to the completion
of the initial Business Combination: repayment of a loan and advances up to an aggregate of $500,000 made to the Company by the Sponsor;
payment to the Sponsor for certain office space, utilities, secretarial and administrative support services provided to the Company and
other expenses and obligations of the Sponsor as may be reasonably required by the Company for a total up to $10,000 per month; reimbursement
for any reasonable out-of-pocket expenses related to identifying, investigating, negotiating and completing an initial Business Combination;
and repayment of loans, if any, and on such terms as to be determined by the Company from time to time, made by the Sponsor or an affiliate
of the Sponsor or any of the Company’s officers or directors to finance transaction costs in connection with an intended initial
Business Combination, provided, that, if the Company does not consummate an initial Business Combination, a portion of the working capital
held outside the Trust Account may be used by the Company to repay such loaned amounts so long as no proceeds from the Trust Account are
used for such repayment. Up to $1,500,000 of such loans may be convertible into warrants at a price of $1.00 per warrant at the option
of the lender. Such warrants would be identical to the Private Placement Warrants, including as to exercise price, exercisability and
exercise period.

 

		12.	The Company, the Sponsor and each Insider has full right and power, without violating any agreement to which it, he or she is bound
(including, without limitation, any non-competition or non-solicitation agreement with any employer or former employer), to enter into
this Letter Agreement and, as applicable, to serve as an officer and/or director on the board of directors of the Company and hereby consents
to being named in the Prospectus as an officer and/or director of the Company.

 

		13.	As used herein, (i) “Business Combination” shall mean a merger, share
                                                             exchange, asset acquisition, share purchase, reorganization or similar business combination, involving the Company and one or more
                                                             businesses; (ii) “Ordinary Shares” shall mean the Class A Ordinary Shares and Class B ordinary
                                                             shares, par value $0.0001 per share (the “Class B Ordinary Shares”); (iii) “Founder
                                                             Shares” shall mean the 5,750,000 Class B Ordinary Shares issued and outstanding (up to 750,000 of which are
                                                             subject to complete or partial forfeiture by the Sponsor if the over-allotment option is not exercised in full by the Underwriter);
                                                             (iv) “Initial Shareholders” shall mean the Sponsor and any Insider that holds Founder Shares; (v)
                                                             “Private Placement Warrants” shall mean the 8,000,000 warrants (or 8,600,000 warrants if the
                                                             over-allotment option is exercised in full) that the Sponsor has agreed to purchase for an aggregate purchase price of $8,000,000
                                                             (or $8,600,000 if the over-allotment option is exercised in full), or $1.00 per warrant, in a private placement that shall occur
                                                             simultaneously with the consummation of the Public Offering; (vi) “Working Capital Warrants” shall mean
                                                             the warrants that may be issued in connection with financing the Company’s transaction costs in connection with a Business
                                                             Combination; (vii) “Extension Loan Warrants” shall mean the warrants that may be issued in connection with
                                                             an extension of the period of time the Company has to consummate a Business Combination as set forth in the Charter; (viii)
                                                             “Public Shareholders” shall mean the holders of securities issued in the Public Offering; (ix)
                                                             “Trust Account” shall mean the trust account into which a portion of the net proceeds of the Public
                                                             Offering and the sale of the Private Placement Warrants shall be deposited; and (x) “Transfer” shall
                                                             mean the (a) sale of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase or
                                                             otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position
                                                             or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Exchange Act,
                                                             and the rules and regulations of the Commission promulgated thereunder with respect to, any security, (b) entry into any swap
                                                             or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any security,
                                                             whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (c) public announcement
                                                             of any intention to effect any transaction specified in clause (a) or (b).

 

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		14.	The Company will maintain an insurance policy or policies providing directors’ and officers’ liability insurance, and
each Insider who is or is nominated to be a director or officer of the Company shall be covered by such policy or policies, in accordance
with its or their terms, to the maximum extent of the coverage available pursuant to such policy or policies for any of the Company’s
directors or officers.

 

		15.	This Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof
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 changed,
amended, modified or waived (other than to correct a typographical error) as to any particular provision, except by a written instrument
executed by (i) each Insider that is the subject of any such change, amendment, modification or waiver, (ii) the Sponsor and (iii) the
Company.

 

		16.	No party hereto may assign either this Letter Agreement or any of its rights, interests, or obligations hereunder without the prior
written consent of the other parties. 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 shall be binding on the Company,
the Sponsor and each Insider and their respective successors, heirs and assigns and permitted transferees.

 

		17.	Except as provided for in paragraph 8, nothing in this Letter Agreement shall be construed to confer upon, or give to, any person
or corporation other than the parties hereto any right, remedy or claim under or by reason of this Letter Agreement or of any covenant,
condition, stipulation, promise or agreement hereof. Except as provided for in paragraph 8, all covenants, conditions, stipulations, promises
and agreements contained in this Letter Agreement shall be for the sole and exclusive benefit of the parties hereto and their successors,
heirs, personal representatives and assigns and permitted transferees.

 

		18.	This Letter Agreement may be executed in any number of original, facsimile or other electronic counterparts and each of such counterparts
shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

		19.	This Letter Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not
affect the validity or enforceability of this Letter Agreement or of any other term or provision hereof. Furthermore, in lieu of any such
invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Letter Agreement a provision
as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

		20.	This Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York. The parties
hereto (i) all agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Letter Agreement
shall be brought and enforced in the courts of New York City, in the State of New York, and irrevocably submit to such jurisdiction and
venue, which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction and venue or that
such courts represent an inconvenient forum.

 

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		21.	Any notice, consent or request to be given in connection with any of the terms or provisions of this Letter Agreement shall be in
writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery
or facsimile or e-mail transmission.

 

		22.	This Letter Agreement shall terminate on the earlier of (i) the expiration of the Lock-up Periods and (ii) the liquidation
of the Company; provided, however, that this Letter Agreement shall earlier terminate in the event that the Public Offering is not consummated
and closed by September 30, 2021; provided further that paragraph 6 of this Letter Agreement shall survive such liquidation.

 

[Signature Page Follows]

 

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	 	Sincerely,
	 	 
	 	MOUNTAIN & CO. I SPONSOR LLC
	 	 
	 	By  	 
	 	 	Name: Dr. Cornelius Boersch
	 	 	Title: Director
	 	 	 
	 	 
	 	Dr. Cornelius Boersch
	 	 
	 	 
	 	Daniel Wenzel
	 	 
	 	 
	 	Alexander Hornung
	 	 
	 	 
	 	Prof. Dr. Utz Claassen
	 	 
	 	 
	 	Miles Gilburne
	 	 
	 	 
	 	Winston Ma
	 	 
	 	 
	 	Dr. Philip Rösler

 

	Acknowledged and Agreed:	 	 
	 	 	 
	MOUNTAIN & CO. I ACQUISITION CORP.	 	 
	 	 	 
	By:  	 	 	 
	 	Name: Dr. Cornelius Boersch	 	 
	 	Title: Chief Executive Officer	 	 

 

[Signature Page to Letter
Agreement]

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