Document:

Exhibit 10.7

 

[●], 2021

 

Catalyst
Partners Acquisition Corp.

20 University Road 

Fourth Floor

Cambridge, Massachusetts 02138

 

Re: Initial Public Offering

 

Ladies and Gentlemen:

 

This letter (this
 “Letter Agreement”) is being delivered to you in accordance with the Underwriting Agreement (the
 “Underwriting Agreement”) to be entered into by and between Catalyst Partners Acquisition Corp., a Cayman
Islands exempted company (the “Company”), and Goldman Sachs & Co. LLC (the
 “Underwriter”), relating to an underwritten initial public offering (the “Public
Offering”), of 34,500,000 of the Company’s units (including up to 4,500,000 units granted to the Underwriter
that may be purchased to cover over-allotments, if any) (the “Units”), each comprised of one Class A
ordinary share of the Company, par value $0.0001 per share (the “Class A Ordinary Shares”), and
one-fifth of one redeemable warrant. Each whole Warrant (each, a “Warrant”) entitles the holder thereof to
purchase one Class A Ordinary Share at a price of $11.50 per share, subject to adjustment. The Units will be sold in the Public
Offering pursuant to a registration statement on Form S-1 and a prospectus (the “Prospectus”)
included therein, filed by the Company with the Securities and Exchange Commission (the “Commission”) and
the Company has applied to have the Units listed on the Nasdaq Capital Market. Certain capitalized terms used herein are defined in
paragraph 12 hereof.

 

In
order to induce the Company and the Underwriter to enter into the Underwriting Agreement and to proceed with the Public Offering and for
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, CAT Sponsor LLC, a Delaware
limited liability company (the “Sponsor”), Catalyst Partners Foundation (the “Foundation”)
and the undersigned individuals, each of whom is a member of the Company’s board of directors, a nominee for membership on the board
of directors and/or an executive officer of the Company (each, an “Insider” and collectively, the “Insiders”),
hereby agrees with the Company as follows:

 

1.            It
is acknowledged and agreed that the Company shall not enter into a definitive agreement regarding a proposed Business Combination without
the prior consent of the Sponsor. The Sponsor, the Foundation and each Insider agrees that if the Company seeks shareholder approval of
a proposed Business Combination, then in connection with such proposed Business Combination, it, he or she shall (i) vote any shares
of Capital Stock owned by it, him or her in favor of any proposed Business Combination and (ii) not redeem any Class A Ordinary
Shares owned by it, him or her in connection with such shareholder approval. If the Company seeks to consummate a proposed Business Combination
by engaging in a tender offer, the Sponsor, the Foundation and each Insider agrees that it, he or she will not sell or tender any Class A
Ordinary Shares owned by it, him or her in connection therewith.

 

    

     

    

 

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

  

The
Sponsor, the Foundation and each Insider acknowledges that it or he or she has no right, title, interest or claim of any kind in or to
any monies held in the Trust Account or any other asset of the Company as a result of any liquidation of the Company with respect to the
Founder Shares held by it. The Sponsor, the Foundation and each Insider hereby further
waives, with respect to any Class A Ordinary Shares held by it or him, if any, any redemption rights it or he or she may have in
connection with the consummation of a Business Combination, including, without limitation, any such rights available in the context of
a shareholder vote (i) to approve such Business Combination or in the context of a tender offer made by the Company to purchase Class A
Ordinary Shares (although the Sponsor, the Foundation the Insiders and their respective affiliates shall be entitled to redemption and
liquidation rights with respect to any Class A Ordinary Shares it or they hold if the Company fails to consummate a Business Combination
within 24 months from the date of the closing of the Public Offering) or (ii) to approve an amendment to the Company’s amended
and restated memorandum and articles of association to modify the substance or timing of its obligation to redeem 100% of our public shares
if we have not consummated a Business Combination within 24 months (or 27 months, if applicable) from the closing of the initial public
offering or with respect to any other material provisions relating to shareholders’ rights or pre- Business Combination activity.

 

3.            The
undersigned acknowledges and agrees that prior to entering into a definitive agreement for a Business Combination with a target company
that is affiliated with the undersigned or any other Insiders of the Company or their affiliates, such transaction must be approved by
a majority of the Company’s disinterested independent directors and the Company must obtain an opinion from an independent investment
banking firm, which is a member of the Financial Industry Regulatory Authority, or an independent accounting firm that such Business Combination
is fair to the Company’s unaffiliated shareholders from a financial point of view.

 

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4.            In
the event of the liquidation of the Trust Account the Sponsor (which for purposes of clarification shall not extend to any other shareholders,
members or managers of the Sponsor, or any of the other undersigned) (the “Indemnitor”) agrees to indemnify
and hold harmless the Company against any and all loss, liability, claim, damage and expense whatsoever (including, but not limited to,
any and all legal or other expenses reasonably incurred in investigating, preparing or defending against any litigation, whether pending
or threatened) to which the Company may become subject as a result of any claim by (i) any third party for services rendered or products
sold to the Company (except for the Company’s independent auditors) or (ii) any prospective target business with which the
Company has discussed entering into a transaction agreement (a “Target”); provided, however,
that such indemnification of the Company by the Indemnitor (x) shall apply only to the extent necessary to ensure that such claims
by a third party for services rendered or products sold to the Company or a Target do not reduce the amount of funds in the Trust Account
to below the lesser of (i) $10.00 per Public Share and (ii) the actual amount per Public Share held in the Trust Account as
of the date of the liquidation of the Trust Account if less than $10.00 per Public Share due to reductions in the value of the trust assets,
in each case net of the amount of interest earned on the property in the Trust Account which may be withdrawn to pay franchise and income
taxes, except as to any claims by a third party (including a Target) who executed a waiver of any and all rights to seek access to the
Trust Account and except as to any claims under the Company’s indemnity of the Underwriter against certain liabilities, including
liabilities under the Securities Act of 1933, as amended (the “Securities Act”). In the event that any such
executed waiver is deemed to be unenforceable against such third party, the Sponsor shall not be responsible to the extent of any liability
for such third party claims. The Indemnitor shall have the right to defend against any such claim with counsel of its choice reasonably
satisfactory to the Company if, within 15 days following written receipt of notice of the claim to the Indemnitor, the Indemnitor notifies
the Company in writing that it shall undertake such defense.

 

5.            To
the extent that the Underwriter does not exercise its option to purchase the additional Units within 45 days from the date of the
Prospectus in full (as further described in the Prospectus), the Sponsor and the Foundation agree to automatically surrender to the
Company for no consideration, for cancellation at no cost, an aggregate number of Founder Shares, on a pro rata basis, so that the
number of Founder Shares will equal of 23.1%, on an as-converted basis, of the sum of the total number of Class A Ordinary
Shares outstanding at such time. The Sponsor, the Foundation and Insiders further agree that to the extent that the size of the
Public Offering is increased or decreased, the Company will effect a share capitalization or a share repurchase, as applicable, with
respect to the Founder Shares immediately prior to the consummation of the Public Offering in such amount as to maintain the number
of Founder Shares, on an as-converted basis, at approximately   23.1% of our issued and outstanding ordinary shares upon the
consummation of this offering.

 

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6.            The
Sponsor, the Foundation and each Insider hereby agrees and acknowledges that: (i) the Underwriter and the Company would be irreparably
injured in the event of a breach by such Sponsor, the Foundation or an Insider of its, his or her obligations under paragraphs 1, 2, 3,
4, 5, 6, 7(a), 7(b), 7(c), and 9, as applicable, of this Letter Agreement (ii) monetary damages may not be an adequate remedy for
such breach and (iii) the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that such party
may have in law or in equity, in the event of such breach.

 

7.            (a) The
Sponsor, the Foundation and the Insiders agree that they shall not Transfer any Founder Shares (the “Founder Shares Lock-up”)
until the earliest of (A) one year after the completion of an initial Business Combination and (B) the date following the completion
of an initial Business Combination on which the Company completes a liquidation, merger, share exchange or other similar transaction that
results in all of the Company’s shareholders having the right to exchange their Class A Ordinary Shares for cash, securities
or other property (the “Founder Shares Lock-up Period”). Notwithstanding the foregoing, if, subsequent to a
Business Combination, the closing price of the Class A Ordinary Shares equals or exceeds $12.00 per share (as adjusted for share
sub-divisions, share capitalizations, share consolidations, reorganizations, recapitalizations and the like) for any 20 trading days within
a 30-trading day period commencing at least 150 days after the Company’s initial Business Combination, the Founder Shares shall
be released from the Founder Shares Lock-up.

 

(b)            The
Sponsor, the Foundation and Insiders agree that they shall not effectuate any Transfer of Private Placement Warrants or Class A Ordinary
Shares underlying such warrants until 30 days after the completion of an initial Business Combination.

 

(c)            Notwithstanding
the provisions set forth in paragraphs 7(a) and 7(b), Transfers of the Founder Shares
and Private Placement Warrants (and Class A Ordinary Shares issued or issuable upon the exercise or conversion of the Private Placement
Warrants and the Founder Shares and that are held by the Sponsor, the Foundation any Insider
or any of their permitted transferees (that have complied with this paragraph 8(c)), are permitted (a) to the Company’s officers
or directors, any affiliates or family members of any of the Company’s officers or directors, any direct or indirect members or
partners of the Initial Shareholders or their affiliates, any affiliates of the Initial Shareholders, or any employees of such affiliates,
or any funds or accounts advised by our Initial Shareholders or their affiliates; (b) in the case of an individual, by gift to a
member of one of the individual’s immediate family or to a trust, the beneficiary of which is a member of the individual’s
immediate family, an affiliate of such person or to a charitable organization; (c) in the case of an individual, by virtue of laws
of descent and distribution upon death of the individual; (d) in the case of an individual, pursuant to a qualified domestic relations
order; (e) by private sales or transfers made in connection with the consummation of an initial Business Combination at prices no
greater than the price at which the private placement warrants or Class A Ordinary Shares, as applicable, were originally purchased;
(f) by virtue of the Sponsor’s or the Foundation’s organizational documents upon liquidation or dissolution of the Sponsor
or the Foundation, as applicable; (g) to the Company for no value for cancellation in connection with the consummation of the Company’s
initial Business Combination; (h) in the event of the Company’s liquidation prior to the completion of the Company’s
initial Business Combination; or (i) in the event of the Company’s completion of a liquidation, merger, share exchange or other
similar transaction which results in all of the Company’s public shareholders having the right to exchange their Class A Ordinary
Shares for cash, securities or other property subsequent to the Company’s completion of the an initial Business Combination; provided,
however, that in the case of clauses (a) through (f) these permitted transferees must enter into a written agreement agreeing
to be bound by the restrictions herein.

 

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(d)            During
the period commencing on the effective date of the Underwriting Agreement and ending 180 days after such date, the Sponsor, the Foundation
and each Insider shall not, without the prior written consent of the Underwriter, Transfer any Units, Class A Ordinary Shares, Warrants
or any other securities convertible into, or exercisable or exchangeable for, Class A Ordinary Shares held by it, her or him, as
applicable. The provisions of this paragraph will not apply if the release or waiver is effected solely to permit a transfer not for consideration
and the transferee has agreed in writing to be bound by the same terms described in this Letter Agreement to the extent and for the duration
that such terms remain in effect at the time of the transfer.

 

8.            Each
of the Insiders agrees to be a director or officer of the Company, as applicable, until the earlier of the consummation by the Company
of an initial Business Combination, the liquidation of the Company, or his or her removal, death or incapacity. In the event of the removal
or resignation of an Insider as a director or officer (as applicable), each Insider agrees that he or she will not, prior to the consummation
of the Business Combination, without the prior express written consent of the Company, (i) use for the benefit of the undersigned
or to the detriment of the Company or (ii) disclose to any third party (unless required by law or governmental authority), any information
regarding a target candidate of the Company that is not generally known by persons outside of the Company, the Sponsor, or their respective
affiliates. The Sponsor, the Foundation and each Insider represents and warrants that it, he or she has never been suspended or expelled
from membership in any securities or commodities exchange or association or had a securities or commodities license or registration denied,
suspended or revoked. Each Insider’s biographical information furnished to the Company (including any such information included
in the Prospectus) is true and accurate in all respects and does not omit any material information with respect to the Insider’s
background. Each Insider’s questionnaire furnished to the Company and the Underwriter is true and accurate in all material respects.
Each Insider represents and warrants that: it, he or she is not subject to or a respondent in any legal action for, any injunction, cease-and-desist
order or order or stipulation to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction;
it or he or she has never been convicted of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any financial
transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and it or he or she is
not currently a defendant in any such criminal proceeding.

 

9.            Except
as disclosed in the Prospectus, neither the Sponsor, the Foundation nor any Insider nor any affiliate of the Sponsor, the Foundation or
any Insider, nor any director or officer of the Company, shall receive from the Company any finder’s fee, reimbursement, consulting
fee, monies in respect of any repayment of a loan or other compensation prior to, or in connection with any services rendered in order
to effectuate the consummation of the Company’s initial Business Combination (regardless of the type of transaction that it is).

 

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

 

11.            The
Company will maintain an insurance policy or policies providing directors’ and officers’ liability insurance, and the Insiders
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 of the Company’s directors or officers.

 

12.            As
used herein, (i) “Business Combination” shall mean a merger, share
exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities;
(ii) “Capital Stock” shall mean, collectively, the Class A Ordinary Shares and the Founder Shares;
(iii) “Founder Shares” shall mean the 10,350,000 Class B ordinary shares of the Company, par value
$0.0001 per share, outstanding prior to the consummation of the Public Offering; (iv) “Initial Shareholders”
shall mean the Sponsor, Foundation and any Insider that holds Founder Shares; (v) “Private Placement Warrants”
shall mean the warrants to purchase Class A Ordinary Shares of the Company that will be acquired by the Sponsor for an aggregate
purchase price of $11,200,000 (or $12,100,000 if the over-allotment option is not exercised by the Underwriter) or $0.60 per Private Placement
Warrant, in a private placement that shall close simultaneously with the consummation of the Public Offering (including Class A Ordinary
Shares issuable upon conversion thereof); (vi) “Public Shareholders” shall mean the holders of securities
issued in the Public Offering; (vii) “Trust Account” shall mean the trust fund into which a portion of
the net proceeds of the Public Offering and certain of the proceeds from the sale of the Private Placement Warrants shall be deposited;
and (viii) “Transfer” shall mean the (a) sale of, offer to sell, contract or agreement to sell, hypothecate,
pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or
increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16
of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder with respect
to, any security, (b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic
consequences of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise,
or (c) public announcement of any intention to effect any transaction specified in clause (a) or (b).

 

13.            This
Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and
supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they
relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may not be changed, amended,
modified or waived (other than to correct a typographical error) as to any particular provision, except by a written instrument executed
by all parties hereto.

 

14.            No
party hereto may assign either this Letter Agreement or any of its rights, interests, or obligations hereunder without the prior written
consent of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate
to transfer or assign any interest or title to the purported assignee. This Letter Agreement shall be binding on the Sponsor, the Foundation
and each Insider and their respective successors, heirs and assigns and permitted transferees.

 

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

 

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

 

17.            This
Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving
effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The parties
hereto (i) all agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Letter Agreement
shall be brought and enforced in the courts of New York City, in the State of New York, and irrevocably submit to such jurisdiction and
venue, which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction and venue or that
such courts represent an inconvenient forum.

 

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

 

19.            This
Letter Agreement shall terminate on the earlier of (i) the expiration of the Lock-up Periods or (ii) the liquidation of the
Company; provided further that paragraph 5 of this Letter Agreement shall survive such liquidation.

 

[Signature Page Follows]

 

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	 	Sincerely,

 

	 	CAT SPONSOR LLC
	 	 
	 	By:	 
	 	Name:	 Evan Sotiriou
	 	Title:	 Chief Operating Officer
	 	 
	 	DIRECTORS AND OFFICERS:
	 	 
	 	By:	 
	 	Name:	 James I. Cash
	 	Title:	Chairman and Chief Executive Officer
	 	 
	 	By:	 
	 	Name:	 Paul Sagan
	 	Title:	 President and Vice Chairman
	 	 
	 	By:	 
	 	Name:	 Evan Sotiriou
	 	Title:	 Chief Operating Officer
	 	 
	 	By:	 
	 	Name:	Robin L. Washington
	 	Title:	Chief Development Officer
	 	 
	 	By:	 
	 	Name:	 Kevin King
	 	Title:	 Investment Partner
	 	 
	 	By:	 
	 	Name:	 Kenneth I. Chenault
	 	Title:	 Director Nominee
	 	 
	 	By:	 
	 	Name:	 Ann Fudge
	 	Title:	 Director Nominee
	 	 
	 	By:	 
	 	Name:	 David J. Grain
	 	Title:	 Director Nominee
	 	 
	 	By:	 
	 	Name:	 Steven S. Reinemund
	 	Title:	 Director Nominee

 

[Signature Page to Letter Agreement]

 

    

     

    

 

	 	By:	 
	 	Name:	Corey E. Thomas
	 	Title:	Director Nominee
	 	 
	 	CATALYST PARTNERS FOUNDATION
	 	 
	 	By:	 
	 	Name:	 James I. Cash
	 	Title:	 Director

  

[Signature Page to Letter Agreement]

 

    

     

    

 

Acknowledged and Agreed:

	 	 
	CATALYST PARTNERS ACQUISITION CORP.	 
	 	 
	By:	 	 
	Name:	Evan Sotiriou	 
	Title:	Chief Operating Officer	 

  

[Signature Page to Letter Agreement]Exhibit 10.8

 

CATALYST PARTNERS ACQUISITION
CORP. 

20 University Road

Fourth Floor

Cambridge, MA 02138

 

[●], 2021

 

CAT Sponsor LLC

20 University Road

Fourth Floor

Cambridge, MA 02138

 

Re:  Administrative Services Agreement

 

Ladies and Gentlemen:

 

This letter agreement by and between Catalyst Partners
Acquisition Corp. (the “Company”) and CAT Sponsor LLC (“Sponsor”), dated as of the
date hereof, will confirm our agreement that, commencing on the date the securities of the Company are first listed on the Nasdaq Capital
Market (the “Listing Date”), pursuant to a Registration Statement on Form S-1 and prospectus filed with
the U.S. Securities and Exchange Commission (the “Registration Statement”) and continuing until the earlier
of the consummation by the Company of an initial business combination or the Company’s liquidation (in each case as described in
the Registration Statement) (such earlier date hereinafter referred to as the “Termination Date”):

 

		i.	Sponsor shall make available, or cause to be made available, to the Company, at 20 University Road, Fourth Floor, Cambridge, MA 02138
(or any successor location of Sponsor), certain office space, secretarial and administrative services as may be reasonably required by
the Company. In exchange therefor, the Company shall pay Sponsor, or an affiliate thereof, as determined by the Sponsor, a sum of $10,000
per month on the Listing Date and continuing monthly thereafter until the Termination Date; and

 

		ii.	Sponsor hereby irrevocably waives any and all right, title, interest, causes of action and claims of any kind as a result of, or arising
out of, this letter agreement (each, a “Claim”) in or to, and any and all right to seek payment of any amounts
due to it out of, the trust account established for the benefit of the public shareholders of the Company and into which substantially
all of the proceeds of the Company’s initial public offering will be deposited (the “Trust Account”),
and hereby irrevocably waives any Claim it may have in the future, which Claim would reduce, encumber or otherwise adversely affect the
Trust Account or any monies or other assets in the Trust Account, and further agrees not to seek recourse, reimbursement, payment or satisfaction
of any Claim against the Trust Account or any monies or other assets in the Trust Account for any reason whatsoever.

 

     

     

    

 

		iii.	To the fullest extent permitted by applicable law, the Company hereby agrees to indemnify, hold harmless and exonerate the Sponsor
and any of its affiliates (each, a “Sponsor Indemnitee”) from any and all costs, fees, 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 costs, fees, expenses, judgments, liabilities, fines, penalties and amounts paid in settlement)
actually, and reasonably incurred by any Sponsor Indemnitee or on a Sponsor Indemnitee’s behalf in connection with 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 instituted by the Company or any third party in respect of any investment
opportunities sourced by a Sponsor Indemnitee for the Company or any liability arising with respect to a Sponsor Indemnitee’s activities
in connection with the affairs of the Company (in each case that are provided without a separate written agreement between the Company
and such Sponsor Indemnitee); provided, that in no event shall a Sponsor Indemnitee be entitled to be indemnified or held harmless hereunder
in respect of any costs, fees, expenses, judgments, liabilities, fines, penalties and amounts paid in settlement (if any) that Sponsor
Indemnitee may incur by reason of such person’s own actual fraud or intentional misconduct; provided further, for the avoidance
of doubt, that under no circumstance shall a Sponsor Indemnitee have a Claim to any monies or assets held in the Trust Account, and the
Company shall not be permitted to procure monies or assets held in the Trust Account for the satisfaction of its obligations to any Sponsor
Indemnitee in respect of the indemnification provided hereunder.

 

This letter agreement constitutes the entire agreement
and understanding of the parties hereto in respect of its subject matter and supersedes all prior understandings, agreements, or representations
by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter hereof or the transactions
contemplated hereby.

 

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

 

No party hereto may assign either this letter agreement
or any of its rights, interests, or obligations hereunder without the prior written approval of the other party. Any purported assignment
in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest or title to the
purported assignee.

 

This letter agreement constitutes the entire relationship
of the parties hereto, and any litigation between the parties (whether grounded in contract, tort, statute, law or equity) shall be governed
by, construed in accordance with, and interpreted pursuant to the laws of the State of New York, without giving effect to its choice of
laws principles.

 

[Signature Page Follows]

 

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	 	 	 	Very truly yours, 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	CATALYST PARTNERS ACQUISITION CORP. 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	By:  	 
	 	 	 	 	Name:	Evan Sotiriou                                  
	 	 	 	 	Title:	Chief Operating Officer
	 	 	 	 	 	 
	AGREED TO AND ACCEPTED BY:	 	 	 
	 	 	 	 	 	 
	CAT SPONSOR LLC	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	By:  	 	 	 	 
	 	Name:	Evan Sotiriou	 	 	 
	 	Title: 	Chief Operating Officer	 	 	 

 

[Signature Page to Administrative Services
Agreement]

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