Document:

Exhibit 10.6

 

UNIT SUBSCRIPTION AGREEMENT 

 

This UNIT SUBSCRIPTION
AGREEMENT (this “Agreement”) is made as of the day of 2021, by and between FTAC Hera Acquisition Corp., a Cayman
Islands exempted company (the “Company”), having its principal place of business at 2929 Arch Street, Suite
1703, Philadelphia, PA 19104, and FTAC Hera Sponsor, LLC (the “Subscriber”).

 

WHEREAS, the Company desires
to sell on a private placement basis (the “Offering”) an aggregate of 1,800,000 units (“Units”)
of the Company, each Unit comprised of one Class A ordinary share of the Company, par value $0.0001 per share (“Common
Shares”), and one-fourth of one warrant to purchase one Common Share (“Warrant”), for an aggregate
purchase price of $18,000,000, or $10.00 per Unit. The Common Shares underlying the Warrants are hereinafter referred to as the
“Warrant Shares.”  The Common Shares underlying the Units (excluding the Warrant Shares) are hereinafter
referred to as the “Placement Shares.” The Warrants underlying the Units are hereinafter referred to as the
“Placement Warrants.”  The Units, Placement Shares, Placement Warrants and Warrant Shares, collectively,
are hereinafter referred to as the “Securities.”  Placement Warrants may be exercised only to the
extent that, when aggregated with other Placement Warrants being exercised, the exercise is for a whole share or whole shares;
no fractional shares shall be issuable. The exercise price for any Warrant Share shall be $11.50. Subject to the foregoing, the
Placement Warrants are exercisable during the period commencing on the later of (i) twelve (12) months from the date of the completion
of the Company’s initial public offering of units (the “IPO”) and (ii) 30 days following the consummation
of the Company’s initial business combination (the “Business Combination”), as such term is defined in
the registration statement filed in connection with the IPO, as amended at the time it becomes effective (the “Registration
Statement”), and expiring on the fifth anniversary of the consummation of the Business Combination; and

 

WHEREAS, the Subscriber
wishes to purchase 900,000 Units from the Company and the Company wishes to accept such subscription from the Subscriber.

 

NOW, THEREFORE, in consideration
of the premises and the mutual covenants hereinafter set forth and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Company and the Subscriber hereby agree as follows:

 

		1.	Agreement to Subscribe

 

1.1 Purchase and Issuance
of the Units. Upon the terms and subject to the conditions of this Agreement, the Subscriber hereby agrees to purchase from
the Company, and the Company hereby agrees to sell to the Subscriber, on the Closing Date (as defined below), 900,000 Units for
a purchase price of $9,000,000 (the “Purchase Price”).

 

1.2 Delivery of the
Purchase Price.  Upon execution of this Agreement, the Company is bound to fulfill its obligations hereunder and
the Subscriber hereby irrevocably commits to deliver either directly into a trust account (the “Trust Account”
) held at JP Morgan Chase Bank, N.A. or any other financial institution chosen by the Company, with Continental Stock Transfer &
Trust Company acting as trustee (“Continental”), or into an escrow account maintained by Ledgewood, PC (“Ledgewood”),
counsel for the Company, the Purchase Price in immediately available funds by wire transfer or such other form of payment as shall
be acceptable to the Trustee, in its sole and absolute discretion, one (1) business day prior to the effective date of the Registration
Statement.

 

1.3 Closing. The
closing of the Offering (the “Closing”), shall take place at the offices of Ledgewood, simultaneously with the
closing of the IPO on or before June 30, 2021 (the “Closing Date”). On the Closing Date, if the Subscriber has
delivered the Purchase Price to Ledgewood as described in Section 1.2 above, Ledgewood shall wire the purchase price to Continental
for deposit in the Trust Account.

 

1.4 Termination.  This
Agreement and each of the obligations of the undersigned shall be null and void and without effect if the Closing does not occur
prior to June 30, 2021.

 

     

     

    

 

		2.	Representations and Warranties of Subscriber

 

The Subscriber represents
and warrants to the Company that:

 

2.1 No Government Recommendation
or Approval.  The Subscriber understands that no federal or state agency has passed upon or made any recommendation
or endorsement of the Company or the Offering of the Securities.

 

2.2 Accredited Investor.
The Subscriber represents that it is an “accredited investor” as such term is defined in Rule 501(a) of Regulation
D under the Securities Act of 1933, as amended (the “Securities Act”), and acknowledges that the sale contemplated
hereby is being made in reliance, among other things, on a private placement exemption to “accredited investors” under
the Securities Act and similar exemptions under state law.

 

2.3 Intent.  The
Subscriber is purchasing the Securities solely for investment purposes, for the Subscriber’s own account (and/or for the
account or benefit of its members or affiliates, as permitted, pursuant to the terms of an agreement (the “Letter Agreement”)
to be entered into with respect to the Securities between, among others, the Subscriber and the Company, as described in the
Registration Statement), and not with a view to the distribution thereof and the Subscriber has no present arrangement to sell
the Securities to or through any person or entity except as may be permitted under the Letter Agreement.  The Subscriber
shall not engage in hedging transactions with regard to the Securities unless in compliance with the Securities Act.

 

2.4 Restrictions on
Transfer.  The Subscriber acknowledges and understands the Units are being offered in a transaction not involving
a public offering in the United States within the meaning of the Securities Act.  The Securities have not been registered
under the Securities Act and, if in the future the Subscriber decides to offer, resell, pledge or otherwise transfer the Securities,
such Securities may be offered, resold, pledged or otherwise transferred only (A) pursuant to an effective registration statement
filed under the Securities Act, (B) pursuant to an exemption from registration under Rule 144 promulgated under the Securities
Act, if available, or (C) pursuant to any other available exemption from the registration requirements of the Securities Act,
and in each case in accordance with any applicable securities laws of any state or any other jurisdiction. Notwithstanding the
foregoing, the Subscriber acknowledges and understands the Securities are subject to transfer restrictions as described in Section
8 hereof.  The Subscriber agrees that, if any transfer of its Securities or any interest therein is proposed to be made,
as a condition precedent to any such transfer the Subscriber may be required to deliver to the Company an opinion of counsel satisfactory
to the Company with respect to such transfer. Absent registration or another available exemption from registration, the Subscriber
agrees it will not transfer the Securities (unless otherwise permitted pursuant to the Letter Agreement, as described in the Registration
Statement).  The Subscriber further acknowledges that because the Company is a shell company, Rule 144 may not be available
to the Subscriber for the resale of the Securities until the one year anniversary following consummation of the Business Combination,
despite technical compliance with the requirements of Rule 144 and the release or waiver of any contractual transfer restrictions.

 

2.5 Sophisticated Investor.

 

  (i) The
Subscriber’s managers and members are individually accredited investors and are sophisticated in financial matters and
able to evaluate the risks and benefits of the investment in the Securities.

 

  (ii) The Subscriber
is aware that an investment in the Securities is highly speculative and subject to substantial risks because, among other things,
(a) the Securities are subject to transfer restrictions and have not been registered under the Securities Act and therefore cannot
be sold unless subsequently registered under the Securities Act or an exemption from such registration is available and (b) the
Subscriber has waived its redemption rights with respect to the Securities as set forth in Section 5 hereof, and the Securities
held by the Subscriber are not entitled to, and have no right, interest or claim to any monies held in the Trust Account, and accordingly
the Subscriber may suffer a loss of a portion or all of its investment in the Securities. The Subscriber is able to bear the economic
risk of its investment in the Securities for an indefinite period of time.

 

    2 

     

    

 

2.6 Independent Investigation.  The
Subscriber, in making the decision to purchase the Units, has relied upon an independent investigation of the Company and has not
relied upon any information or representations made by any third parties or upon any oral or written representations or assurances
from the Company, its officers, directors or employees or any other representatives or agents of the Company, other than as set
forth in this Agreement. The Subscriber is familiar with the business, operations and financial condition of the Company and has
had an opportunity to ask questions of, and receive answers from the Company’s officers and directors concerning the Company
and the terms and conditions of the Offering and has had full access to such other information concerning the Company as the Subscriber
has requested. The Subscriber confirms that all documents that it has requested have been made available and that the Subscriber
has been supplied with all of the additional information concerning this investment which the Subscriber has requested.

 

2.7 Organization and
Authority.  The Subscriber is duly organized, validly existing and in good standing under the laws of the State of
Delaware and it possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement.

 

2.8 Authority. This
Agreement has been validly authorized, executed and delivered by the Subscriber and is a valid and binding agreement enforceable
in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance,
moratorium, reorganization, or similar laws relating to, or affecting generally the enforcement of, creditors’ rights and
remedies or by equitable principles of general application and except as enforcement of rights to indemnity and contribution may
be limited by federal and state securities laws or principles of public policy.

 

2.9 No Conflicts.
The execution, delivery and performance of this Agreement and the consummation by the Subscriber of the transactions contemplated
hereby do not violate, conflict with or constitute a default under (i) the Subscriber's charter documents, (ii) any agreement
or instrument to which the Subscriber is a party or (iii) any law, statute, rule or regulation to which the Subscriber is subject,
or any agreement, order, judgment or decree to which the Subscriber is subject.

 

2.10 No Legal Advice
from Company.  The Subscriber acknowledges it has had the opportunity to review this Agreement and the transactions
contemplated by this Agreement and the other agreements entered into between the parties hereto with the Subscriber’s own
legal counsel and investment and tax advisors.  Except for any statements or representations of the Company made in this
Agreement and the other agreements entered into between the parties hereto, the Subscriber is relying solely on such review, counsel
and advisors and not on any statements or representations of the Company or any of its representatives or agents for legal, tax
or investment advice with respect to this investment, the transactions contemplated by this Agreement or the securities laws of
any jurisdiction.

 

2.11 Reliance on Representations
and Warranties.  The Subscriber understands the Units are being offered and sold to the Subscriber in reliance on
exemptions from the registration requirements under the Securities Act, and analogous provisions in the laws and regulations of
various states, and that the Company is relying upon the truth and accuracy of the representations, warranties, agreements, acknowledgments
and understandings of the Subscriber set forth in this Agreement in order to determine the applicability of such provisions.

 

2.12 No General Solicitation.  The
Subscriber is not subscribing for the Units as a result of or subsequent to any general solicitation or general advertising, including
but not limited to any advertisement, article, notice or other communication published in any newspaper, magazine, or similar media
or broadcast over television or radio, or presented at any seminar or meeting or in a registration statement with respect to the
IPO filed with the Securities and Exchange Commission (“SEC”).

 

2.13 Legend.  The
Subscriber acknowledges and agrees the certificates evidencing each of the Securities shall bear a restrictive legend (the “Legend”),
in form and substance substantially as set forth in Section 4 hereof.

 

		3.	Representations, Warranties and Covenants of the Company

 

The Company represents
and warrants to, and agrees with, the Subscriber that:

 

3.1 Valid Issuance of
Capital Stock. The total number of shares of all classes of ordinary and preferred shares which the Company has authority to
issue is 550,000,000 ordinary shares and 5,000,000 preference shares (“Preferred Shares”). As of the date hereof,
the Company has issued and outstanding 22,012,500 Class B ordinary shares (of which up to 2,812,500 shares are subject to forfeiture)
and no Preferred Shares. All of the issued ordinary shares of the Company have been duly authorized, validly issued, and are fully
paid and non-assessable.

 

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3.2 Title to Securities.  Upon
issuance in accordance with, and payment pursuant to, the terms hereof and that certain Warrant Agreement to be entered into between
the Company and Continental, as warrant agent (the “Warrant Agreement”), as the case may be, each of the Units,
Placement Shares, Placement Warrants and the Warrant Shares will be duly and validly issued, fully paid and non-assessable. On
the date of issuance of the Units, the Warrant Shares shall have been reserved for issuance. Upon issuance in accordance with,
and payment pursuant to, the terms hereof and the Warrant Agreement, as the case may be, the Subscriber will have or receive good
title to the Units, Placement Shares and Placement Warrants, free and clear of all liens, claims and encumbrances of any kind resulting
from actions of, or any failure to act by, the Company, other than (i) transfer restrictions hereunder and pursuant to the Letter
Agreement and (ii) transfer restrictions under federal and state securities laws.

 

3.3 Organization and
Qualification. The Company is duly incorporated and validly existing as an exempted company in good standing under the laws
of the Cayman Islands and has the requisite corporate power to own its properties and assets and to carry on its business as now
being conducted.

 

3.4 Authorization; Enforcement.
(i) The Company has the requisite corporate power and authority to enter into and perform its obligations under this Agreement
and to issue the Securities in accordance with the terms hereof, (ii) the execution, delivery and performance of this Agreement
by the Company and the consummation by it of the transactions contemplated hereby have been duly authorized by all necessary corporate
action, and no further consent or authorization of the Company or its Board of Directors or shareholders is required, and (iii) this
Agreement constitutes a valid and binding obligation of the Company enforceable against the Company in accordance with its terms,
except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance, moratorium, reorganization,
or similar laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies or by equitable principles
of general application and except as enforcement of rights to indemnity and contribution may be limited by federal and state securities
laws or principles of public policy.

 

3.5 No Conflicts.
The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions contemplated
hereby do not (i) result in a violation of the Company’s amended and restated memorandum and articles of association,
(ii) conflict with, or constitute a default under any agreement or instrument to which the Company is a party or by which
it is bound or (iii) violate any law statute, rule or regulation to which the Company is subject or any agreement, order, judgment
or decree to which the Company is subject. Other than any SEC or state securities filings which may be required to be made by the
Company subsequent to the Closing, and any registration statement which may be filed pursuant thereto, the Company is not required
under federal, state or local law, rule or regulation to obtain any consent, authorization or order of, or make any filing or registration
with, any court or governmental agency or self-regulatory entity in order for it to perform any of its obligations under this Agreement
or issue the Units, Placement Shares, Placement Warrants or the Warrant Shares in accordance with the terms hereof.

 

		4.	Legends 

 

4.1 Legend. The
Company will issue the Units, Placement Shares and Placement Warrants, and, when issued, the Warrant Shares, purchased by the Subscriber
in the name of the Subscriber. The Securities will bear the following Legend and appropriate “stop transfer” instructions:

 

“THE SECURITIES
REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR
ANY STATE SECURITIES LAWS AND NEITHER THESE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE
DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION
UNDER THE SECURITIES ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL FOR THIS CORPORATION, IS AVAILABLE.”

 

“THE SECURITIES
REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER PURSUANT TO A LETTER AGREEMENT AMONG FTAC HERA ACQUISITION
CORP. AND THE OTHER PARTIES THERETO AND MAY ONLY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF DURING THE TERM
THEREOF PURSUANT TO THE TERMS SET FORTH IN THE LETTER AGREEMENT.”

 

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4.2 Subscriber’s
Compliance. Nothing in this Section 4 shall affect in any way the Subscriber’s obligations and agreements to comply
with all applicable securities laws upon resale of the Securities.

 

4.3 Company’s
Refusal to Register Transfer of the Securities.  The Company shall refuse to register any transfer of the Securities
if, in the sole judgment of the Company, such purported transfer would not be made (i) pursuant to an effective registration
statement filed under the Securities Act, or (ii) pursuant to an available exemption from the registration requirements of
the Securities Act and applicable state securities laws and (iii) in compliance herewith and with the Letter Agreement.

 

4.4 Registration Rights.  The
Subscriber will be entitled to certain registration rights which will be governed by a registration rights agreement (“Registration
Rights Agreement”) to be entered into between, among others, the Subscriber and the Company, on or prior to the effective
date of the Registration Statement. 

 

		5.	Waiver of Liquidation Distributions.

 

In connection with the
Securities purchased pursuant to this Agreement, the Subscriber hereby waives any and all redemption rights (i) in connection with
the Company’s consummation of the Business Combination, (ii) upon the Company’s failure to consummate the Business
Combination within 24 months from the completion of the IPO or the liquidation of the Company prior to the expiration of such 24
month period or (iii) if the Company seeks an amendment to its amended and restated memorandum and articles of association that
would affect the substance or timing of the Company’s obligation to redeem 100% of the Public Shares (as defined below).  In
the event the Subscriber purchases Common Shares in the IPO or in the aftermarket (“Public Shares”), the Subscriber
hereby waives any and all right, title, interest or claim of any kind in or to any distributions with respect to any Public Shares
in connection with the exercise of redemption rights in connection with the Company’s consummation of the Business Combination.
For the avoidance of doubt, the Subscriber shall be eligible to redeem any Public Shares upon the same terms offered to all other
holders of Common Shares in the IPO in the event the Company fails to consummate the Business Combination, or liquidates, within
24 months from the completion of the IPO.

 

		6.	Termination of Placement Warrants.

 

6.1 Failure to Consummate
Business Combination. The Placement Warrants shall be terminated upon the dissolution of the Company or in the event that the
Company does not consummate the Business Combination within 24 months from the completion of the IPO.

 

6.2 Termination of Rights
as Holder. If the Placement Warrants are terminated in accordance with Section 6.1, then after such time, the Subscriber
(or its successor in interest) shall no longer have any rights as a holder of such Placement Warrants and the Company shall take
such action as is appropriate to cancel such Placement Warrants. The Subscriber hereby irrevocably grants the Company a limited
power of attorney for the purpose of effectuating the foregoing and agrees to take any and all measures reasonably requested by
the Company necessary to effect the foregoing.

 

		7.	Rescission Right Waiver and Indemnification.

 

7.1 The Subscriber
understands and acknowledges an exemption from the registration requirements of the Securities Act requires there be no general
solicitation of purchasers of the Units. In this regard, if the IPO were deemed to be a general solicitation with respect to the
Units, the offer and sale of such Units may not be exempt from registration and, if not, the Subscriber may have a right to rescind
its purchase of the Units. In order to facilitate the completion of the Offering and in order to protect the Company, its shareholders
and the amounts in the Trust Account from claims that may adversely affect the Company or the interests of its shareholders, the
Subscriber hereby agrees to waive, to the maximum extent permitted by applicable law, any claims, right to sue or rights in law
or arbitration, as the case may be, to seek rescission of its purchase of the Units. The Subscriber acknowledges and agrees this
waiver is being made in order to induce the Company to sell the Units to the Subscriber. The Subscriber agrees the foregoing waiver
of rescission rights shall apply to any and all known or unknown actions, causes of action, suits, claims or proceedings (collectively,
“Claims”) and related losses, costs, penalties, fees, liabilities and damages, whether compensatory, consequential
or exemplary, and expenses in connection therewith, including reasonable attorneys’ and expert witness fees and disbursements
and all other expenses reasonably incurred in investigating, preparing or defending against any Claims, whether pending or threatened,
in connection with any present or future actual or asserted right to rescind the purchase of the Units hereunder or relating to
the purchase of the Units and the transactions contemplated hereby.

 

    5 

     

    

 

7.2 The Subscriber
agrees not to seek recourse against the Trust Account for any reason whatsoever in connection with its purchase of the Units or
any Claim that may arise now or in the future.

 

7.3 The Subscriber
acknowledges and agrees that the shareholders of the Company are and shall be third-party beneficiaries of this Section 7. 

 

7.4 The Subscriber
agrees that, to the extent any waiver of rights under this Section 7 is ineffective as a matter of law, the Subscriber has offered
such waiver for the benefit of the Company as an equitable right that shall survive any statutory disqualification or bar that
applies to a legal right. The Subscriber acknowledges the receipt and sufficiency of consideration received from the Company hereunder
in this regard.

 

		8.	Terms of the Units and Placement Warrants

 

The Units and their component
parts are substantially identical to the units to be offered in the IPO except that: (i) the Units and their component parts will
be subject to transfer restrictions, except in limited circumstances, until 30 days following the consummation of the Business
Combination, (ii) the Placement Warrants will be non-redeemable, except in limited circumstances, so long as they are held by the
Subscriber (or any of its permitted transferees), and will be exercisable on a “cashless” basis if held by the
Subscriber or its permitted transferees and (iii) the Units and their component parts are being purchased pursuant to an exemption
from the registration requirements of the Securities Act and will become freely tradable only after they are registered or an exemption
from registration is available, and the restrictions described above in clause (i) have expired.

 

		9.	Governing Law; Jurisdiction; Waiver of Jury Trial

 

This Agreement shall be
governed by and construed in accordance with the laws of the State of New York for agreements made and to be wholly performed within
such state. The parties hereto hereby waive any right to a jury trial in connection with any litigation pursuant to this Agreement
and the transactions contemplated hereby.

 

		10.	Assignment; Entire Agreement; Amendment

 

10.1 Assignment.
Neither this Agreement nor any rights hereunder may be assigned by any party to any other person other than by the Subscriber to
a person agreeing to be bound by the terms hereof, including the waiver contained in Section 7 hereof.

 

10.2 Entire Agreement.
This Agreement sets forth the entire agreement and understanding between the parties as to the subject matter hereof and merges
and supersedes all prior discussions, agreements and understandings of any and every nature among them.

 

10.3 Amendment.
Except as expressly provided in this Agreement, neither this Agreement nor any term hereof may be amended, waived, discharged or
terminated other than by a written instrument signed by the party against whom enforcement of any such amendment, waiver, discharge
or termination is sought.

 

10.4 Binding upon Successors.
This Agreement shall be binding upon and inure to the benefit of the parties hereto and to their respective heirs, legal representatives,
successors and permitted assigns. 

 

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		11.	Notices

 

11.1 Notices. Unless
otherwise provided herein, any notice or other communication to a party hereunder shall be sufficiently given if in writing and
personally delivered or sent by facsimile or other electronic transmission with copy sent in another manner herein provided or
sent by courier (which for all purposes of this Agreement shall include Federal Express or other recognized overnight courier)
or mailed to said party by certified mail, return receipt requested, at its address provided for herein or such other address as
either may designate for itself in such notice to the other.  Communications shall be deemed to have been received when
delivered personally, on the scheduled arrival date when sent by next day or 2nd-day courier service, or if sent by facsimile upon
receipt of confirmation of transmittal or, if sent by mail, then three days after deposit in the mail. If given by electronic transmission,
such notice shall be deemed to be delivered (a) if by electronic mail, when directed to an electronic mail address at which
the recipient has consented to receive notice; (b) if by a posting on an electronic network together with separate notice
to the recipient of such specific posting, upon the later of (1) such posting and (2) the giving of such separate notice;
and (c) if by any other form of electronic transmission, when directed to the recipient.

 

		12.	Counterparts

 

This Agreement may be
executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement and shall
become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both
parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission or by e-mail
delivery of a “pdf” format data file, such signature shall create a valid and binding obligation of the party executing
(or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature
page were an original thereof.

 

		13.	Survival; Severability

 

13.1 Survival. The
representations, warranties, covenants and agreements of the parties hereto shall survive the Closing.

 

13.2 Severability.
In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable
or void, this Agreement shall continue in full force and effect without said provision; provided that no such severability shall
be effective if it materially changes the economic benefit of this Agreement to any party.

 

		14.	Headings.

 

The titles and subtitles
used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.

 

[remainder of page intentionally left blank]

 

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Accepted and agreed on the date set forth above.

 

	 	FTAC HERA ACQUISITION CORP. 
	 	 	 
	 	By:	  
	 	 	Name:  Daniel G. Cohen
	 	 	Title:    President and Chief Executive Officer

 

Accepted and agreed on the date set forth above.

 

	 	
        SUBSCRIBER:

        FTAC HERA SPONSOR, LLC

	 	 
	 	 	 
	 	By:	  
	 	 	Name:  Betsy Z. Cohen
	 	 	Title:    Manager

 

[FTAC Hera Placement Unit Subscription Agreement]Exhibit 10.7

 

FORM OF
INDEMNITY AGREEMENT

 

THIS
INDEMNITY AGREEMENT (this “Agreement”) is made on [        ], 2021.

 

Between:

 

		(1)	FTAC
HERA ACQUISITION CORP., an exempted company incorporated under the laws of the Cayman Islands with registered office
at Maples Corporate Services Limited, PO Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands (the “Company”);
and

 

		(2)	_____________________
(“Indemnitee”).

 

Whereas:

 

		(A)	Highly
competent persons have become more reluctant to serve publicly-held companies or corporations as directors, officers or in other
capacities unless they are provided with adequate protection through insurance or adequate indemnification against inordinate
risks of claims and actions against them arising out of their service to and activities on behalf of such companies or corporations;

 

		(B)	The
board of directors of the Company (the “Board”) has determined that, in order to attract and retain qualified
individuals, the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons
serving the Company and its subsidiaries from certain liabilities.  Although the furnishing of such insurance has been a
customary and widespread practice among publicly traded companies or corporations and other business enterprises, the Company
believes that, given current market conditions and trends, such insurance may be available to it in the future only at higher
premiums and with more exclusions.  At the same time, directors, officers and other persons in service to companies, corporations
or business enterprises are being increasingly subjected to expensive and time-consuming litigation relating to, among other things,
matters that traditionally would have been brought only against the Company or business enterprise itself.  The amended and
restated articles of association of the Company (the “Articles”) provide for the indemnification of the officers
and directors of the Company.  The Articles expressly provide that the indemnification provisions set forth therein are not
exclusive, and thereby contemplate that contracts may be entered into between the Company and members of the board of directors,
officers and other persons with respect to indemnification, hold harmless, exoneration, advancement and reimbursement rights;

 

		(C)	The
uncertainties relating to such insurance and to indemnification have increased the difficulty of attracting and retaining such
persons;

 

		(D)	The
Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests
of the Company’s shareholders and that the Company should act to assure such persons that there will be increased certainty
of such protection in the future;

 

		(E)	It
is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, hold harmless, exonerate and
to advance expenses on behalf of, such persons to the fullest extent permitted by applicable law and the Articles so that they
will serve or continue to serve the Company free from undue concern that they will not be so protected against liabilities;

 

		(F)	This
Agreement is a supplement to and in furtherance of the Articles and any resolutions adopted pursuant thereto, and shall not be
deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder;

 

		(G)	Indemnitee
may not be willing to serve as an officer or director, advisor or in another capacity without adequate protection, and the Company
desires Indemnitee to serve in such capacity.  Indemnitee is willing to serve, continue to serve and to take on additional
service for or on behalf of the Company on the condition that he be so indemnified; and

 

NOW,
THEREFORE, in consideration of the premises and the covenants contained herein and subject to the provisions of the letter agreement
dated as of [     ], 2021 among the Company, Indemnitee and the other parties thereto pursuant to the Underwriting
Agreement between the Company and the Underwriters in connection with the Company’s initial public offering, the Company
and Indemnitee do hereby covenant and agree as follows:

 

     

     

    

 

TERMS
AND CONDITIONS

 

		1	SERVICES
TO THE COMPANY

 

Indemnitee
will serve or continue to serve as an officer, director, advisor, key employee or in any other capacity of the Company, as applicable,
for so long as Indemnitee is duly elected, appointed or retained or until Indemnitee tenders his resignation or until Indemnitee
is removed. The foregoing notwithstanding, this Agreement shall continue in full force and effect after Indemnitee has ceased
to serve as a director, officer, advisor, key employee or in any other capacity of the Company, as provided in Section 17. This
Agreement, however, shall not impose any obligation on Indemnitee or the Company to continue Indemnitee’s service to the
Company beyond any period otherwise required by law or by other agreements or commitments of the parties, if any.

 

		2	DEFINITIONS

 

As
used in this Agreement:

 

		2.1	References
to “agent” shall mean any person who is or was a director, officer or employee of the Company or a subsidiary
of the Company or other person authorized by the Company to act for the Company, to include such person serving in such capacity
as a director, officer, employee, advisor, fiduciary or other official of another company, a corporation, partnership, limited
liability company, joint venture, trust or other enterprise at the request of, for the convenience of, or to represent the interests
of the Company or a subsidiary of the Company.

 

		2.2	The
terms “Beneficial Owner” and “Beneficial Ownership” shall have the meanings set forth in
Rule 13d-3 promulgated under the Exchange Act (as defined below) as in effect on the date hereof.

 

		2.3	A
“Change in Control” shall be deemed to occur upon the earliest to occur after the date of this Agreement of
any of the following events:

 

		(a)	Acquisition
of Shares by Third Party.  Other than an affiliate of FTAC Hera Sponsor, LLC or FTAC Hera Advisors, LLC, any Person (as
defined below) is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing fifteen percent
(15%) or more of the combined voting power of the Company’s then outstanding securities entitled to vote generally in the
election of directors, unless (1) the change in the relative Beneficial Ownership of the Company’s securities by any
Person results solely from a reduction in the aggregate number of outstanding shares entitled to vote generally in the election
of directors, or (2) such acquisition was approved in advance by the Continuing Directors (as defined below) and such acquisition
would not constitute a Change in Control under part (c) of this definition;

 

	 	(b)	Change in Board of
    Directors.  Individuals who, as of the date hereof, constitute the Board, and any new director whose election by
    the Board or nomination for election by the Company’s shareholders was approved by a vote of at least two thirds of
    the directors then still in office who were directors on the date hereof or whose election for nomination for election was
    previously so approved (collectively, the “Continuing Directors”), cease for any reason to constitute at
    least a majority of the members of the Board;

 

    2

     

    

 

	 	(c)	Corporate Transactions. 
    The effective date of a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination,
    involving the Company and one or more businesses (a “Business Combination”), in each case, unless, following
    such Business Combination: (1) all or substantially all of the individuals and entities who were the Beneficial Owners
    of securities entitled to vote generally in the election of directors immediately prior to such Business Combination beneficially
    own, directly or indirectly, more than 51% of the combined voting power of the then outstanding securities of the Company
    entitled to vote generally in the election of directors resulting from such Business Combination (including, without limitation,
    a company or corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s
    assets either directly or through one or more Subsidiaries) in substantially the same proportions as their ownership immediately
    prior to such Business Combination, of the securities entitled to vote generally in the election of directors; (2) other
    than an affiliate of FTAC Hera Sponsor, LLC or FTAC Hera Advisors, LLC, no Person (excluding any company or corporation resulting
    from such Business Combination) is the Beneficial Owner, directly or indirectly, of 15% or more of the combined voting power
    of the then outstanding securities entitled to vote generally in the election of directors of the surviving company or corporation
    except to the extent that such ownership existed prior to the Business Combination; and (3) at least a majority of the
    Board of Directors of the company or corporation resulting from such Business Combination were Continuing Directors at the
    time of the execution of the initial agreement, or of the action of the Board of Directors, providing for such Business Combination;

  

	 	(d)	Liquidation. 
    The approval by the shareholders of the Company of a complete liquidation of the Company or an agreement or series of agreements
    for the sale or disposition by the Company of all or substantially all of the Company’s assets, other than factoring
    the Company’s current receivables or escrows due (or, if such approval is not required, the decision by the Board to
    proceed with such a liquidation, sale, or disposition in one transaction or a series of related transactions); or

 

	 	(e)	Other Events. 
    There occurs any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A
    of Regulation 14A (or a response to any similar item on any similar schedule or form) promulgated under the Exchange Act (as
    defined below), whether or not the Company is then subject to such reporting requirement.

 

		2.4	“Corporate
Status” describes the status of a person who is or was a director, officer, trustee, general partner, manager, managing
member, fiduciary, employee or agent of the Company or of any other Enterprise (as defined below) which such person is or was
serving at the request of the Company.

 

		2.5	“Cayman
Court” shall mean the Courts of the Cayman Islands.

 

		2.6	“Disinterested
Director” shall mean a director of the Company who is not and was not a party to the Proceeding (as defined below) in
respect of which indemnification is sought by Indemnitee.

 

		2.7	“Enterprise”
shall mean the Company and any other company, a corporation, constituent corporation (including any constituent of a constituent)
absorbed in a consolidation or merger to which the Company (or any of its wholly owned subsidiaries) is a party, limited liability
company, partnership, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is or was serving at
the request of the Company as a director, officer, trustee, general partner, manager, managing member, fiduciary, employee or
agent.

 

		2.8	“Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended.

 

		2.9	“Expenses”
shall include all direct and indirect costs, fees and expenses of any type or nature whatsoever, including, without limitation,
all attorneys’ fees and costs, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses,
fees of private investigators and professional advisors, duplicating costs, printing and binding costs, telephone charges, postage,
delivery service fees, fax transmission charges, secretarial services and all other disbursements, obligations or expenses in
connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in,
settlement or appeal of, or otherwise participating in, a Proceeding (as defined below), including reasonable compensation for
time spent by Indemnitee for which he or she is not otherwise compensated by the Company or any third party.  Expenses also
shall include Expenses incurred in connection with any appeal resulting from any Proceeding (as defined below), including without
limitation the principal, premium, security for, and other costs relating to any cost bond, supersedeas bond, or other appeal
bond or its equivalent.  Expenses, however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments
or fines against Indemnitee.

 

    3

     

    

 

		2.10	“Indemnity
Obligations” shall mean all obligations of the Company to Indemnitee under this Agreement, including, without limitation,
the Company’s obligations to provide indemnification to Indemnitee and advance Expenses to Indemnitee under this Agreement.

 

		2.11	“Independent
Counsel” shall mean a law firm or a member of a law firm with significant experience in matters of corporate law and
neither presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any matter
material to either such party (other than with respect to matters concerning Indemnitee under this Agreement, or of other indemnitees
under similar indemnification agreements); or (ii) any other party to the Proceeding (as defined below) giving rise to a
claim for indemnification hereunder.  Notwithstanding the foregoing, the term “Independent Counsel” shall
not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest
in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.

 

		2.12	References
to “fines” shall include any excise tax assessed on Indemnitee with respect to any employee benefit plan; references
to “serving at the request of the Company” shall include any service as a director, officer, employee, agent
or fiduciary of the Company which imposes duties on, or involves services by, such director, officer, employee, agent or fiduciary
with respect to an employee benefit plan, its participants or beneficiaries; and if Indemnitee acted in good faith and in a manner
Indemnitee reasonably believed to be in the best interests of the participants and beneficiaries of an employee benefit plan, Indemnitee
shall be deemed to have acted in a manner “not opposed to the best interests of the Company” as referred to
in this Agreement.

 

		2.13	The
term “Person” shall have the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act
as in effect on the date hereof; provided, however, that “Person” shall exclude: (i) the Company; (ii) any
Subsidiaries (as defined below) of the Company; (iii) any employment benefit plan of the Company or of a Subsidiary (as defined
below) of the Company or of any company or corporation owned, directly or indirectly, by the shareholders of the Company in substantially
the same proportions as their ownership of shares of the Company; and (iv) any trustee or other fiduciary holding securities
under an employee benefit plan of the Company or of a Subsidiary (as defined below) of the Company or of a company or corporation
owned directly or indirectly by the shareholders of the Company in substantially the same proportions as their ownership of shares
of the Company.

 

		2.14	The
term “Proceeding” shall include any threatened, pending or completed action, suit, arbitration, mediation,
alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed
proceeding, whether brought in the right of the Company or otherwise and whether of a civil (including intentional or unintentional
tort claims), criminal, administrative, or investigative or related nature, in which Indemnitee was, is, will or might be involved
as a party or otherwise by reason of the fact that Indemnitee is or was a director or officer of the Company, by reason of any
action (or failure to act) taken by him or of any action (or failure to act) on his part while acting as a director or officer
of the Company, or by reason of the fact that he is or was serving at the request of the Company as a director, officer, trustee,
general partner, manager, managing member, fiduciary, employee or agent of any other Enterprise, in each case whether or not serving
in such capacity at the time any liability or expense is incurred for which indemnification, reimbursement, or advancement of
expenses can be provided under this Agreement.

 

		2.15	The
term “Subsidiary,” with respect to any Person, shall mean any company, corporation, limited liability company,
partnership, joint venture, trust or other entity of which a majority of the voting power of the voting equity securities or equity
interest is owned, directly or indirectly, by that Person.

 

    4

     

    

 

		3	INDEMNITY
IN THIRD-PARTY PROCEEDINGS

 

To
the fullest extent permitted by applicable law and the Articles, the Company shall indemnify, hold harmless and exonerate Indemnitee
in accordance with the provisions of this Section 3 if Indemnitee was, is, or is threatened to be made, a party to or a participant
(as a witness, deponent or otherwise) in any Proceeding, other than a Proceeding by or in the right of the Company to procure
a judgment in its favor by reason of Indemnitee’s Corporate Status.  Pursuant to this Section 3, Indemnitee
shall be indemnified, held harmless and exonerated against all Expenses, judgments, liabilities, fines, penalties and amounts
paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of
such Expenses, judgments, fines, penalties and amounts paid in settlement) actually and reasonably incurred by Indemnitee or on
his behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in
a manner he reasonably believed to be in or not opposed to the best interests of the Company and, in the case of a criminal Proceeding,
had no reasonable cause to believe that his conduct was unlawful.

 

		4	INDEMNITY
IN PROCEEDINGS BY OR IN THE RIGHT OF THE COMPANY

 

To
the fullest extent permitted by applicable law and the Articles, the Company shall indemnify, hold harmless and exonerate Indemnitee
in accordance with the provisions of this Section 4 if Indemnitee was, is, or is threatened to be made, a party to or a participant
(as a witness, deponent or otherwise) in any Proceeding by or in the right of the Company to procure a judgment in its favor by
reason of Indemnitee’s Corporate Status.  Pursuant to this Section 4, Indemnitee shall be indemnified, held
harmless and exonerated against all Expenses actually and reasonably incurred by him or on his behalf in connection with such
Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he reasonably believed to
be in or not opposed to the best interests of the Company.  No indemnification, hold harmless or exoneration for Expenses
shall be made under this Section 4 in respect of any claim, issue or matter as to which Indemnitee shall have been finally
adjudged by a court to be liable to the Company, unless and only to the extent that any court in which the Proceeding was brought
or the Cayman Court shall determine upon application that, despite the adjudication of liability but in view of all the circumstances
of the case, Indemnitee is fairly and reasonably entitled to indemnification, to be held harmless or to exoneration.

 

		5	INDEMNIFICATION
FOR EXPENSES OF A PARTY WHO IS WHOLLY OR PARTLY SUCCESSFUL

 

Notwithstanding
any other provisions of this Agreement except for Section 27, to the extent that Indemnitee was or is, by reason of Indemnitee’s
Corporate Status, a party to (or a participant in) and is successful, on the merits or otherwise, in any Proceeding or in defense
of any claim, issue or matter therein, in whole or in part, the Company shall, to the fullest extent permitted by applicable law
and the Articles, indemnify, hold harmless and exonerate Indemnitee against all Expenses actually and reasonably incurred by him
in connection therewith.  If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise,
as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall, to the fullest extent permitted
by applicable law and the Articles, indemnify, hold harmless and exonerate Indemnitee against all Expenses actually and reasonably
incurred by him or on his behalf in connection with each successfully resolved claim, issue or matter.  If Indemnitee is
not wholly successful in such Proceeding, the Company also shall, to the fullest extent permitted by applicable law and the Articles,
indemnify, hold harmless and exonerate Indemnitee against all Expenses reasonably incurred in connection with a claim, issue or
matter related to any claim, issue, or matter on which Indemnitee was successful.  For purposes of this Section 5 and
without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice,
shall be deemed to be a successful result as to such claim, issue or matter.

 

		6	INDEMNIFICATION
FOR EXPENSES OF A WITNESS

 

Notwithstanding
any other provision of this Agreement except for Section 27, to the extent that Indemnitee is, by reason of his Corporate
Status, a witness or deponent in any Proceeding to which Indemnitee is not a party or threatened to be made a party, he shall,
to the fullest extent permitted by applicable law and the Articles, be indemnified, held harmless and exonerated against all Expenses
actually and reasonably incurred by him or on his behalf in connection therewith.

 

    5

     

    

 

		7	ADDITIONAL
INDEMNIFICATION, HOLD HARMLESS AND EXONERATION RIGHTS

 

		7.1	Notwithstanding
any limitation in Sections 3, 4, or 5, except for Section 27, the Company shall, to the fullest extent permitted by applicable
law and the Articles, indemnify, hold harmless and exonerate Indemnitee if Indemnitee is a party to or threatened to be made a
party to any Proceeding (including a Proceeding by or in the right of the Company to procure a judgment in its favor) against
all Expenses, judgments, fines, penalties and amounts paid in settlement (including all interest, assessments and other charges
paid or payable in connection with or in respect of such Expenses, judgments, fines, penalties and amounts paid in settlement)
actually and reasonably incurred by Indemnitee in connection with the Proceeding.  No indemnification, hold harmless or exoneration
rights shall be available under this Section 7.1 on account of Indemnitee’s conduct which constitutes a breach of Indemnitee’s
duty of loyalty to the Company or its shareholders or is an act or omission not in good faith or which involves intentional misconduct
or a knowing violation of the law.

 

		7.2	Notwithstanding
any limitation in Sections 3, 4, 5 or 7.1, except for Section 27, the Company shall, to the fullest extent permitted by applicable
law and the Articles, indemnify, hold harmless and exonerate Indemnitee if Indemnitee is a party to or threatened to be made a
party to any Proceeding (including a Proceeding by or in the right of the Company to procure a judgment in its favor) against
all Expenses, judgments, fines, penalties and amounts paid in settlement (including all interest, assessments and other charges
paid or payable in connection with or in respect of such Expenses, judgments, fines, penalties and amounts paid in settlement)
actually and reasonably incurred by Indemnitee in connection with the Proceeding.

 

		8	CONTRIBUTION
IN THE EVENT OF JOINT LIABILITY

 

		8.1	To
the fullest extent permissible under applicable law and the Articles, if the indemnification, hold harmless and/or exoneration
rights provided for in this Agreement are unavailable to Indemnitee in whole or in part for any reason whatsoever, the Company,
in lieu of indemnifying, holding harmless or exonerating Indemnitee, shall pay, in the first instance, the entire amount incurred
by Indemnitee, whether for judgments, liabilities, fines, penalties, amounts paid or to be paid in settlement and/or for Expenses,
in connection with any Proceeding without requiring Indemnitee to contribute to such payment, and the Company hereby waives and
relinquishes any right of contribution it may have at any time against Indemnitee.

 

		8.2	The
Company shall not enter into any settlement of any Proceeding in which the Company is jointly liable with Indemnitee (or would
be if joined in such Proceeding) unless such settlement provides for a full and final release of all claims asserted against Indemnitee.

 

		8.3	The
Company hereby agrees to fully indemnify, hold harmless and exonerate Indemnitee from any claims for contribution which may be
brought by officers, directors or employees of the Company other than Indemnitee who may be jointly liable with Indemnitee.

 

		9	EXCLUSIONS

 

Notwithstanding
any provision in this Agreement, the Company shall not be obligated under this Agreement to make any indemnification, advance
expenses, hold harmless or exoneration payment in connection with any claim made against Indemnitee:

 

		(a)	for
which payment has actually been received by or on behalf of Indemnitee under any insurance policy or other indemnity or advancement
provision, except with respect to any excess beyond the amount actually received under any insurance policy, contract, agreement,
other indemnity or advancement provision or otherwise;

 

	 	(b)	for an accounting of
    profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within the meaning
    of Section 16(b) of the Exchange Act or similar provisions of state statutory law or common law; or

 

	 	(c)	except as otherwise
    provided in Sections 14.5 and 14.6  hereof, prior to a Change in Control, in connection with any Proceeding (or any part
    of any Proceeding) initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated by Indemnitee
    against the Company or its directors, officers, employees or other indemnitees, unless (i) the Board authorized the Proceeding
    (or any part of any Proceeding) prior to its initiation or (ii) the Company provides the indemnification, hold harmless
    or exoneration payment, in its sole discretion, pursuant to the powers vested in the Company under applicable law and the
    Articles. Indemnitee shall seek payments or advances from the Company only to the extent that such payments or advances are
    unavailable from any insurance policy of the Company covering Indemnitee.

 

    6

     

    

 

		10	ADVANCES
OF EXPENSES; DEFENSE OF CLAIM

  

		10.1	Notwithstanding
any provision of this Agreement to the contrary except for Section 27, and to the fullest extent not prohibited by applicable
law or the Articles, the Company shall pay the Expenses incurred by Indemnitee (or reasonably expected by Indemnitee to be incurred
by Indemnitee within three months) in connection with any Proceeding within ten (10) days after the receipt by the Company
of a statement or statements requesting such advances from time to time, prior to the final disposition of any Proceeding. 
Advances shall, to the fullest extent permitted by law, be unsecured and interest free. Advances shall be made without regard
to Indemnitee’s ability to repay the Expenses and without regard to Indemnitee’s ultimate entitlement to be indemnified,
held harmless or exonerated under the other provisions of this Agreement.  Advances shall include any and all reasonable
Expenses incurred pursuing a Proceeding to enforce this right of advancement, including Expenses incurred preparing and forwarding
statements to the Company to support the advances claimed.  To the fullest extent required by applicable law and the Articles,
such payments of Expenses in advance of the final disposition of the Proceeding shall be made only upon the Company’s receipt
of an undertaking, by or on behalf of Indemnitee, to repay the advance to the extent that it is ultimately determined that Indemnitee
is not entitled to be indemnified by the Company under the provisions of this Agreement, the Articles, applicable law or otherwise. 
This Section 10.1 shall not apply to any claim made by Indemnitee for which an indemnification, hold harmless or exoneration
payment is excluded pursuant to Section 9.

 

		10.2	The
Company will be entitled to participate in the Proceeding at its own expense.

 

		10.3	The
Company shall not settle any action, claim or Proceeding (in whole or in part) which would impose any Expense, judgment, fine,
penalty or limitation on Indemnitee without Indemnitee’s prior written consent.

 

		11	PROCEDURE
FOR NOTIFICATION AND APPLICATION FOR INDEMNIFICATION

 

		11.1	Indemnitee
agrees to notify promptly the Company in writing upon being served with any summons, citation, subpoena, complaint, indictment,
information or other document relating to any Proceeding or matter which may be subject to indemnification, hold harmless or exoneration
rights, or advancement of Expenses covered hereunder.  The failure of Indemnitee to so notify the Company shall not relieve
the Company of any obligation which it may have to Indemnitee under this Agreement, or otherwise.

 

		11.2	Indemnitee
may deliver to the Company a written application to indemnify, hold harmless or exonerate Indemnitee in accordance with this Agreement. 
Such application(s) may be delivered from time to time and at such time(s) as Indemnitee deems appropriate in his or
her sole discretion.  Following such a written application for indemnification by Indemnitee, Indemnitee’s entitlement
to indemnification shall be determined according to Section 12.1 of this Agreement.

 

		12	PROCEDURE
UPON APPLICATION FOR INDEMNIFICATION

 

		12.1	A
determination, if required by applicable law and the Articles, with respect to Indemnitee’s entitlement to indemnification
shall be made in the specific case by one of the following methods: (i) if no Change in Control has occurred, (x) by a majority
vote of the Disinterested Directors, even though less than a quorum of the Board, (y) by a committee of Disinterested Directors,
even though less than a quorum of the Board, or (z) if there are no Disinterested Directors, or if such Disinterested Directors
so direct, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee, or (ii)
if a Change in Control has occurred, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered
to Indemnitee.  The Company will promptly advise Indemnitee in writing with respect to any determination that Indemnitee
is or is not entitled to indemnification, including a description of any reason or basis for which indemnification has been denied. 
If it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten (10) days
after such determination.  Indemnitee shall reasonably cooperate with the person, persons or entity making such determination
with respect to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon
reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and
which is reasonably available to Indemnitee and reasonably necessary to such determination.  Any costs or Expenses (including
reasonable attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating with the person, persons or entity
making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement
to indemnification) and the Company hereby agrees to indemnify and to hold Indemnitee harmless therefrom.

 

    7

     

    

 

		12.2	In
the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 12.1
hereof, the Independent Counsel shall be selected as provided in this Section 12.2.  The Independent Counsel shall be
selected by Indemnitee (unless Indemnitee shall request that such selection be made by the Board), and Indemnitee shall give written
notice to the Company advising it of the identity of the Independent Counsel so selected and certifying that the Independent Counsel
so selected meets the requirements of “Independent Counsel” as defined in Section 2 of this Agreement. 
If the Independent Counsel is selected by the Board, the Company shall give written notice to Indemnitee advising him of the identity
of the Independent Counsel so selected and certifying that the Independent Counsel so selected meets the requirements of “Independent
Counsel” as defined in Section 2 of this Agreement.  In either event, Indemnitee or the Company, as the case
may be, may, within ten (10) days after such written notice of selection shall have been received, deliver to the Company
or to Indemnitee, as the case may be, a written objection to such selection; provided, however, that such objection may be asserted
only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent Counsel”
as defined in Section 2 of this Agreement, and the objection shall set forth with particularity the factual basis of such
assertion.  Absent a proper and timely objection, the person so selected shall act as Independent Counsel.  If such
written objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless
and until such objection is withdrawn or a court of competent jurisdiction has determined that such objection is without merit. 
If, within twenty (20) days after submission by Indemnitee of a written request for indemnification pursuant to Section 11.2
hereof, no Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee may petition the
Cayman Court for resolution of any objection which shall have been made by the Company or Indemnitee to the other’s selection
of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by the Cayman Court, and the person
with respect to whom all objections are so resolved or the person so appointed shall act as Independent Counsel under Section 12.1
hereof.  Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 14.1 of this Agreement, Independent
Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of
professional conduct then prevailing).

  

		12.3	The
Company agrees to pay the reasonable fees and expenses of Independent Counsel and to fully indemnify and hold harmless such Independent
Counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement
pursuant hereto.

 

		13	PRESUMPTIONS
AND EFFECT OF CERTAIN PROCEEDINGS

 

		13.1	In
making a determination with respect to entitlement to indemnification hereunder, the person, persons or entity making such determination
shall presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification
in accordance with Section 11.2 of this Agreement, and the Company shall have the burden of proof to overcome that presumption
in connection with the making by any person, persons or entity of any determination contrary to that presumption.  Neither
the failure of the Company (including by its directors or Independent Counsel) to have made a determination prior to the commencement
of any action pursuant to this Agreement that indemnification is proper in the circumstances because Indemnitee has met the applicable
standard of conduct, nor an actual determination by the Company (including by its directors or Independent Counsel) that Indemnitee
has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has
not met the applicable standard of conduct.

 

    8

     

    

 

		13.2	If
the person, persons or entity empowered or selected under Section 12 of this Agreement to determine whether Indemnitee is
entitled to indemnification shall not have made a determination within thirty (30) days after receipt by the Company of the request
therefor, the requisite determination of entitlement to indemnification shall be deemed to have been made and Indemnitee shall
be entitled to such indemnification, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material
fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification,
or (ii) a final judicial determination that any or all such indemnification is expressly prohibited under applicable law
and the Articles; provided, however, that such 30-day period may be extended for a reasonable time, not to exceed an additional
fifteen (15) days, if the person, persons or entity making the determination with respect to entitlement to indemnification in
good faith requires such additional time for the obtaining or evaluating of documentation and/or information relating thereto.

  

		13.3	The
termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon
a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely
affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner
which he reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding,
that Indemnitee had reasonable cause to believe that his conduct was unlawful.

 

		13.4	For
purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith if Indemnitee’s
action is based on the records or books of account of the Enterprise, including financial statements, or on information supplied
to Indemnitee by the directors, managers, managing members, or officers of the Enterprise in the course of their duties, or on
the advice of legal counsel for the Enterprise, its Board, any committee of the Board or any director, trustee, general partner,
manager, or managing member or on information or records given or reports made to the Enterprise, its Board, any committee of
the Board or any director, trustee, general partner, manager or managing member by an independent certified public accountant
or by an appraiser or other expert selected by the Enterprise, its Board, any committee of the Board or any director, trustee,
general partner, manager or managing member.  The provisions of this Section 13.4 shall not be deemed to be exclusive
or to limit in any way the other circumstances in which Indemnitee may be deemed or found to have met the applicable standard
of conduct set forth in this Agreement.

 

		13.5	The
knowledge and/or actions, or failure to act, of any other director, officer, trustee, partner, manager, managing member, fiduciary,
agent or employee of the Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification
under this Agreement.

 

		14	REMEDIES
OF INDEMNITEE

 

		14.1	In
the event that (i) a determination is made pursuant to Section 12 of this Agreement that Indemnitee is not entitled
to indemnification under this Agreement, (ii) advancement of Expenses, to the fullest extent permitted by applicable law
and the Articles, is not timely made pursuant to Section 10 of this Agreement, (iii) no determination of entitlement
to indemnification shall have been made pursuant to Section 12.1 of this Agreement within thirty (30) days after receipt
by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to Sections 5, 6,
7 or the last sentence of Section 12.1 of this Agreement within ten (10) days after receipt by the Company of a written
request therefor, (v) a contribution payment is not made in a timely manner pursuant to Section 8 of this Agreement,
(vi) payment of indemnification pursuant to Section 3 or 4 of this Agreement is not made within ten (10) days after
a determination has been made that Indemnitee is entitled to indemnification, or (vii) payment to Indemnitee pursuant to
any hold harmless or exoneration rights under this Agreement or otherwise is not made within ten (10) days after receipt
by the Company of a written request therefor, Indemnitee shall be entitled to an adjudication by the Cayman Court to such
indemnification, hold harmless, exoneration, contribution or advancement rights.  Alternatively, Indemnitee, at his
option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of
the American Arbitration Association.  Except as set forth herein, the provisions of Cayman Islands law (without regard to
its conflict of laws rules) shall apply to any such arbitration.  The Company shall not oppose Indemnitee’s right to
seek any such adjudication or award in arbitration.

 

    9

     

    

 

		14.2	In
the event that a determination shall have been made pursuant to Section 12.1 of this Agreement that Indemnitee is not entitled
to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 14 shall be conducted in all
respects as a de novo trial, or arbitration, on the merits and Indemnitee shall not be prejudiced by reason of that adverse determination. 
In any judicial proceeding or arbitration commenced pursuant to this Section 14, Indemnitee shall be presumed to be
entitled to be indemnified, held harmless, exonerated and to receive advances of Expenses under this Agreement and the Company
shall have the burden of proving Indemnitee is not entitled to be indemnified, held harmless, exonerated and to receive advances
of Expenses, as the case may be, and the Company may not refer to or introduce into evidence any determination pursuant to Section 12.1
of this Agreement adverse to Indemnitee for any purpose.  If Indemnitee commences a judicial proceeding or arbitration pursuant
to this Section 14, Indemnitee shall not be required to reimburse the Company for any advances pursuant to Section 10
until a final determination is made with respect to Indemnitee’s entitlement to indemnification (as to which all rights
of appeal have been exhausted or lapsed).

 

		14.3	If
a determination shall have been made pursuant to Section 12.1 of this Agreement that Indemnitee is entitled to indemnification,
the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 14,
absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s
statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification
under applicable law or the Articles.

 

		14.4	The
Company shall be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 14
that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such
court or before any such arbitrator that the Company is bound by all the provisions of this Agreement.

 

		14.5	The
Company shall indemnify and hold harmless Indemnitee to the fullest extent permitted by law against all Expenses and, if requested
by Indemnitee, shall (within ten (10) days after the Company’s receipt of such written request) pay to Indemnitee,
to the fullest extent permitted by applicable law and the Articles, such Expenses which are incurred by Indemnitee in connection
with any judicial proceeding or arbitration brought by Indemnitee (i) to enforce his rights under, or to recover damages
for breach of, this Agreement or any other indemnification, hold harmless, exoneration, advancement or contribution agreement
or provision of the Articles now or hereafter in effect; or (ii) for recovery or advances under any insurance policy maintained
by any person for the benefit of Indemnitee, regardless of the outcome and whether Indemnitee ultimately is determined to be entitled
to such indemnification, hold harmless or exoneration right, advancement, contribution or insurance recovery, as the case may
be (unless such judicial proceeding or arbitration was not brought by Indemnitee in good faith).

 

		14.6	Interest
shall be paid by the Company to Indemnitee at a rate to be agreed between the Company and Indemnitee for amounts which the Company
indemnifies, holds harmless or exonerates, or is obliged to indemnify, hold harmless or exonerate for the period commencing with
the date on which Indemnitee requests indemnification, to be held harmless, exonerated, contribution, reimbursement or advancement
of any Expenses and ending with the date on which such payment is made to Indemnitee by the Company.

 

		15	SECURITY

 

Notwithstanding
anything herein to the contrary except for Section 27, to the extent requested by Indemnitee and approved by the Board, the
Company may at any time and from time to time provide security to Indemnitee for the Company’s obligations hereunder through
an irrevocable bank line of credit, funded trust or other collateral.  Any such security, once provided to Indemnitee, may
not be revoked or released without the prior written consent of Indemnitee.

 

    10

     

    

 

		16	NON-EXCLUSIVITY;
SURVIVAL OF RIGHTS; INSURANCE; SUBROGATION

 

		16.1	The
rights of Indemnitee as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at
any time be entitled under applicable law, the Articles, any agreement, a vote of shareholders or a resolution of directors, or
otherwise.  No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right
of Indemnitee under this Agreement in respect of any Proceeding (regardless of when such Proceeding is first threatened, commenced
or completed) arising out of, or related to, any action taken or omitted by such Indemnitee in his Corporate Status prior to such
amendment, alteration or repeal.  To the extent that a change in applicable law, whether by statute or judicial decision,
permits greater indemnification, hold harmless or exoneration rights or advancement of Expenses than would be afforded currently
under the Articles or this Agreement, then this Agreement (without any further action by the parties hereto) shall automatically
be deemed to be amended to require that the Company indemnify Indemnitee to the fullest extent permitted by law.  No right
or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be
cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or
otherwise.  The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent
assertion or employment of any other right or remedy.

  

		16.2	The
Articles permit the Company to purchase and maintain insurance or furnish similar protection or make other arrangements including,
but not limited to, providing a trust fund, letter of credit, or surety bond (“Indemnification Arrangements”)
on behalf of Indemnitee against any liability asserted against him or incurred by or on behalf of him or in such capacity as a
director, officer, employee or agent of the Company, or arising out of his status as such, whether or not the Company would have
the power to indemnify him against such liability under the provisions of this Agreement, as it may then be in effect.  The
purchase, establishment, and maintenance of any such Indemnification Arrangement shall not in any way limit or affect the rights
and obligations of the Company or of Indemnitee under this Agreement except as expressly provided herein, and the execution and
delivery of this Agreement by the Company and Indemnitee shall not in any way limit or affect the rights and obligations of the
Company or the other party or parties thereto under any such Indemnification Arrangement.

 

		16.3	To
the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers, trustees,
partners, managers, managing members, fiduciaries, employees, or agents of the Company or of any other Enterprise which such person
serves at the request of the Company, Indemnitee shall be covered by such policy or policies in accordance with its or their
terms to the maximum extent of the coverage available for any such director, officer, trustee, partner, manager, managing member,
fiduciary, employee or agent under such policy or policies.  If, at the time the Company receives notice from any source
of a Proceeding as to which Indemnitee is a party or a participant (as a witness, deponent or otherwise), the Company has director
and officer liability insurance in effect, the Company shall give prompt notice of such Proceeding to the insurers in accordance
with the procedures set forth in the respective policies.  The Company shall thereafter take all necessary or desirable action
to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such Proceeding in accordance with
the terms of such policies.

 

		16.4	In
the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights
of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including
execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.

 

		16.5	The
Company’s obligation to indemnify, hold harmless, exonerate or advance Expenses hereunder to Indemnitee who is or was serving
at the request of the Company as a director, officer, trustee, partner, manager, managing member, fiduciary, employee or agent
of any other Enterprise shall be reduced by any amount Indemnitee has actually received as indemnification, hold harmless or exoneration
payments or advancement of expenses from such Enterprise.  Notwithstanding any other provision of this Agreement to the contrary
except for Section 27, (i) Indemnitee shall have no obligation to reduce, offset, allocate, pursue or apportion any
indemnification, hold harmless, exoneration, advancement, contribution or insurance coverage among multiple parties possessing
such duties to Indemnitee prior to the Company’s satisfaction and performance of all its obligations under this Agreement,
and (ii) the Company shall perform fully its obligations under this Agreement without regard to whether Indemnitee holds,
may pursue or has pursued any indemnification, advancement, hold harmless, exoneration, contribution or insurance coverage rights
against any person or entity other than the Company.

 

    11

     

    

 

		16.6	The
Company hereby acknowledges that Indemnitee may have certain rights to indemnification, advancement of Expenses and/or insurance
provided by one or more Persons with whom or which Indemnitee may be associated. The Company hereby acknowledges and agrees that
(i) the Company shall be the indemnitor of first resort with respect to any Proceeding, Expense, liability or matter that is the
subject of the Indemnity Obligations, (ii) the Company shall be primarily liable for all Indemnity Obligations and any indemnification
afforded to Indemnitee in respect of any Proceeding, Expense, liability or matter that is the subject of Indemnity Obligations,
whether created by law, organizational or constituent documents, contract (including, without limitation, this Agreement) or otherwise,
(iii) any obligation of any other Persons with whom or which Indemnitee may be associated to indemnify Indemnitee and/or advance
Expenses to Indemnitee in respect of any proceeding shall be secondary to the obligations of the Company hereunder, (iv) the Company
shall be required to indemnify Indemnitee and advance Expenses to Indemnitee hereunder to the fullest extent provided herein without
regard to any rights Indemnitee may have against any other Person with whom or which Indemnitee may be associated or insurer of
any such Person and (v) the Company irrevocably waives, relinquishes and releases any other Person with whom or which Indemnitee
may be associated from any claim of contribution, subrogation or any other recovery of any kind in respect of amounts paid by
the Company hereunder. In the event that any other Person with whom or which Indemnitee may be associated or their insurers advances
or extinguishes any liability or loss which is the subject of any Indemnity Obligation owed by the Company or payable under any
insurance policy provided under this Agreement, the payor shall have a right of subrogation against the Company or its insurer
or insurers for all amounts so paid which would otherwise be payable by the Company or its insurer or insurers under this Agreement.
In no event will payment of an Indemnity Obligation of the Company under this Agreement by any other Person with whom or which
Indemnitee may be associated or their insurers, affect the obligations of the Company hereunder or shift primary liability for
any Indemnity Obligation to any other Person with whom or which Indemnitee may be associated. Any indemnification and/or insurance
or advancement of Expenses provided by any other Person with whom or which Indemnitee may be associated, with respect to any liability
arising as a result of Indemnitee’s Corporate Status or capacity as an officer or director of any Person, is specifically
in excess of any Indemnity Obligation of the Company or valid and any collectible insurance (including, without limitation, any
malpractice insurance or professional errors and omissions insurance) provided by the Company under this Agreement, and any obligation
to provide indemnification and/or insurance or advance Expenses provided by any other Person with whom or which Indemnitee may
be associated shall be reduced by any amount that Indemnitee collects from the Company as an indemnification payment or advancement
of Expenses pursuant to this Agreement.

 

		17	DURATION
OF AGREEMENT

 

All
agreements and obligations of the Company contained herein shall continue during the period Indemnitee serves as a director or
officer of the Company or as a director, officer, trustee, partner, manager, managing member, fiduciary, employee or agent of
any other company, a corporation, partnership, joint venture, trust, employee benefit plan or other Enterprise which Indemnitee
serves at the request of the Company and shall continue thereafter so long as Indemnitee shall be subject to any possible Proceeding
(including any rights of appeal thereto and any Proceeding commenced by Indemnitee pursuant to Section 14 of this Agreement)
by reason of his Corporate Status, whether or not he is acting in any such capacity at the time any liability or expense is incurred
for which indemnification or advancement can be provided under this Agreement.

 

		18	SEVERABILITY

 

If
any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever:
(a) the validity, legality and enforceability of the remaining provisions of this Agreement (including, without limitation,
each portion of any Section, paragraph or sentence of this  Agreement containing any such provision held to be invalid, illegal
or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and
shall remain enforceable to the fullest extent permitted by law; (b) such provision or provisions shall be deemed reformed
to the extent necessary to conform to applicable law and the Articles and to give the maximum effect to the intent of the parties
hereto; and (c) to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion
of any Section, paragraph or sentence of this Agreement containing any such provision held to be invalid, illegal or unenforceable,
that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested thereby.

 

    12

     

    

 

		19	ENFORCEMENT
AND BINDING EFFECT

 

		19.1	The
Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby
in order to induce Indemnitee to serve as a director, officer or key employee of the Company, and the Company acknowledges that
Indemnitee is relying upon this Agreement in serving as a director, officer or key employee of the Company.

  

		19.2	Without
limiting any of the rights of Indemnitee under the Articles as they may be amended from time to time, this Agreement constitutes
the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements
and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof.

 

		19.3	The
indemnification, hold harmless, exoneration and advancement of expenses rights provided by or granted pursuant to this Agreement
shall be binding upon and be enforceable by the parties hereto and their respective successors and assigns (including any direct
or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or assets
of the Company), shall continue as to an Indemnitee who has ceased to be a director, officer, employee or agent of the Company
or a director, officer, trustee, general partner, manager, managing member, fiduciary, employee or agent of any other Enterprise
at the Company’s request, and shall inure to the benefit of Indemnitee and his or her spouse, assigns, heirs, devisees,
executors and administrators and other legal representatives.

 

		19.4	The
Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to
all, substantially all or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance
satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent
that the Company would be required to perform if no such succession had taken place.

 

		19.5	The
Company and Indemnitee agree herein that a monetary remedy for breach of this Agreement, at some later date, may be inadequate,
impracticable and difficult of proof, and further agree that such breach may cause Indemnitee irreparable harm.  Accordingly,
the parties hereto agree that Indemnitee may enforce this Agreement by seeking, among other things, injunctive relief and/or specific
performance hereof, without any necessity of showing actual damage or irreparable harm and that by seeking injunctive relief and/or
specific performance, Indemnitee shall not be precluded from seeking or obtaining any other relief to which he may be entitled. 
The Company and Indemnitee further agree that Indemnitee shall be entitled to such specific performance and injunctive relief,
including temporary restraining orders, preliminary injunctions and permanent injunctions, without the necessity of posting bonds
or other undertaking in connection therewith.  The Company acknowledges that in the absence of a waiver, a bond or undertaking
may be required of Indemnitee by a court of competent jurisdiction and the Company hereby waives any such requirement of such
a bond or undertaking.

 

		20	MODIFICATION
AND WAIVER

 

No
supplement, modification or amendment of this Agreement shall be binding unless executed in writing by the Company and Indemnitee. 
No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions of this
Agreement nor shall any waiver constitute a continuing waiver.

  

    13

     

    

 

		21	NOTICES

 

All
notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed to have been
duly given (i) if delivered by hand and receipted for by the party to whom said notice or other communication shall have
been directed, or (ii) mailed by certified or registered mail with postage prepaid, on the third (3rd) business day after
the date on which it is so mailed:

 

(a)
If to Indemnitee, at the address indicated on the signature page of this Agreement or such other address as Indemnitee shall
provide in writing to the Company.

 

(b)
If to the Company, to:

 

FTAC
Hera Acquisition Corp. 

2929 Arch Street

Suite
1703

Philadelphia,
PA 19104

Attn:

 

With
a copy, which shall not constitute notice, to:

 

Ledgewood,
PC

Two
Commerce Square, Suite 3400

Philadelphia,
PA 19103

Attn:
Mark Rosenstein, Esq. 

 

or
to any other address as may have been furnished to Indemnitee in writing by the Company.

 

		22	APPLICABLE
LAW AND CONSENT TO JURISDICTION

 

This
Agreement and the legal relations among the parties shall be governed by, and construed and enforced in accordance with, the laws
of the State of New York, without regard to its conflict of laws rules.  Except with respect to any arbitration commenced
by Indemnitee pursuant to Section 14.1 of this Agreement, the Company and Indemnitee hereby irrevocably and unconditionally:
(a) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the
Cayman Court and not in any other state or federal court in the United States of America or any court in any other country; (b) consent
to submit to the exclusive jurisdiction of the Cayman Court for purposes of any action or proceeding arising out of or in connection
with this Agreement; (c) waive any objection to the laying of venue of any such action or proceeding in the Cayman Court;
and (d) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Cayman Court
has been brought in an improper or inconvenient forum, or is subject (in whole or in part) to a jury trial.

 

		23	IDENTICAL
COUNTERPARTS

 

This
Agreement may be executed in two 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 Agreement.  Only one such counterpart signed by the party against whom
enforceability is sought needs to be produced to evidence the existence of this Agreement.

 

		24	MISCELLANEOUS

 

Use
of the masculine pronoun shall be deemed to include usage of the feminine pronoun where appropriate.  The headings of the
paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or
to affect the construction thereof.

 

		25	PERIOD
OF LIMITATIONS

 

No
legal action shall be brought and no cause of action shall be asserted by or in the right of the Company against Indemnitee, Indemnitee’s
spouse, heirs, executors or personal or legal representatives after the expiration of two years from the date of accrual of such
cause of action, and any claim or cause of action of the Company shall be extinguished and deemed released unless asserted by
the timely filing of a legal action within such two-year period; provided, however, that if any shorter period of limitations
is otherwise applicable to any such cause of action such shorter period shall govern.

 

    14

     

    

 

		26	ADDITIONAL
ACTS

 

If
for the validation of any of the provisions in this Agreement any act, resolution, approval or other procedure is required, the
Company undertakes to cause such act, resolution, approval or other procedure to be affected or adopted in a manner that will
enable the Company to fulfil its obligations under this Agreement.

 

		27	WAIVER
OF CLAIMS TO TRUST ACCOUNT

 

Indemnitee
hereby agrees that it does not have any right, title, interest or claim of any kind (each, a “Claim”) in or
to any monies in the trust account established in connection with the Company’s initial public offering for the benefit
of the Company 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 Company and will not seek recourse against such trust account for any reason
whatsoever.

   

		28.	MAINTENANCE
OF INSURANCE

 

The
Company shall use commercially reasonable efforts to obtain and maintain in effect during the entire period for which the Company
is obligated to indemnify Indemnitee under this Agreement, one or more policies of insurance with reputable insurance companies
to provide the officers/directors of the Company with coverage for losses from wrongful acts and omissions and to ensure the Company’s
performance of its indemnification obligations under this Agreement. Indemnitee shall be covered by such policy or policies in
accordance with its or their terms to the maximum extent of the coverage available for any such director or officer under such
policy or policies. In all such insurance policies, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee
with the same rights and benefits as are accorded to the most favorably insured of the Company’s directors and officers.

 

[SIGNATURE
PAGE FOLLOWS]

 

    15

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Indemnity Agreement to be signed on the day and year first above written.

 

	 	FTAC
    HERA ACQUISITION CORP.
	 	 
	 	By:	 
	 	 	Name:	            
	 	 	Title:	 
	 	 	 
	 	 	 
	 	 	Name:
	 	 	 
	 	 	 
	 	 	Address:

 

[Signature
Page to Indemnity Agreement]

 

 

16

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