Document:

Exhibit 10.7

 

Agrico Acquisition Corp.

Boundary Hall, Cricket Square

Grand Cayman, KY1-1102, Cayman Islands

 

July 7, 2021

 

De Jong Capital LLC

Boundary Hall, Cricket Square

Grand Cayman, KY1-1102, Cayman Islands

Attn: Brent de Jong

 

	 	Re:	Administrative Support Agreement

 

Ladies and Gentlemen:

 

This letter agreement by and
between Agrico Acquisition Corp. (the “Company”) and De Jong Capital LLC (“De Jong Capital”), 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) De Jong Capital and its
affiliates or designees shall make available, or cause to be made available, to the Company, at Boundary Hall, Cricket Square, Grand Cayman,
KY1-1102, Cayman Islands (or any successor location of De Jong Capital), certain office space, utilities and secretarial and administrative
support as may be reasonably required by the Company. In exchange therefor, the Company shall pay De Jong Capital the sum of $10,000 per
month on the Listing Date and continuing monthly thereafter until the Termination Date; and

 

(ii) De Jong Capital and its
affiliates or designees hereby irrevocably waive 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”) as a result of,
or arising out of, this letter agreement, 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.

 

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 this letter agreement 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 law principles.

 

	 	Very truly yours,
	 	 
	 	AGRICO ACQUISITION CORP.
	 	 	 
	 	By:	/s/ Brent de Jong
	 	 	Name: 	Brent de Jong
	 	 	Title:	Chief Executive Officer

 

AGREED TO AND ACCEPTED BY:

 

De Jong Capital LLC

 

	By:	/s/ Brent de Jong	 
	 	Name: 	Brent de Jong	 
	 	Title:	Managing MemberExhibit 4.1

 

	
    NUMBER 
	 	UNITS
	 	 	 
	IMAQU	 	 

 

INTERNATIONAL MEDIA ACQUISITION CORP.

 

	
    SEE REVERSE FOR

    CERTAIN DEFINITIONS
	 	CUSIP 459867 206

 

UNITS CONSISTING OF ONE
SHARE OF COMMON STOCK,

ONE RIGHT TO RECEIVE ONE-TWENTIETH SHARE OF
COMMON STOCK

AND ONE WARRANT TO PURCHASE THREE-FOURTHS SHARE
OF COMMON STOCK

 

THIS CERTIFIES THAT ________________________________________________________________________
is the owner of _________________________________________________________________________ Units.

 

Each Unit (“Unit”)
consists of one (1) share of common stock, par value $0.0001 per share (“Common Stock”), of International
Media Acquisition Corp., a Delaware corporation (the “Company”), one right (the “Right(s)”)
to receive one-twentieth (1/20) of one share of Common Stock upon the consummation of an initial Business Combination (as defined below)
and one redeemable warrant (the “Warrant(s)”). Each Warrant entitles the holder to purchase three-fourths (3/4)
of one share of Common Stock for $11.50 per share (subject to adjustment). Each Warrant will become exercisable on the later of (i) the
Company’s completion of a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other
similar business combination (“Business Combination”) and (ii) one year after the effective date of the registration
statement relating to the Company’s initial public offering (“IPO”), and will expire unless exercised before
5:00 p.m., New York City Time, on the fifth anniversary of the completion of an initial Business Combination, or earlier upon redemption
(the “Expiration Date”). Every twenty Rights entitles the holder thereof to receive one share of Common Stock upon
consummation of the Company’s initial Business Combination. The Common Stock, Rights and Warrants comprising the Units represented
by this certificate are not transferable separately prior to the 30th day after the date of the prospectus relating to the Company’s
IPO, subject to earlier separation in the discretion of Chardan Capital Markets, LLC, provided that the Company has filed with the Securities
and Exchange Commission a Current Report on Form 8-K which includes an audited balance sheet reflecting the Company’s receipt
of the gross proceeds of the IPO and issued a press release announcing when separate trading will begin. The terms of the Rights and
Warrants are governed by a rights agreement (the “Rights Agreement”), dated as of [•],
2021, and a warrant agreement (the “Warrant Agreement”), dated as of [•], 2021, respectively, both between the
Company and Continental Stock Transfer & Trust Company, as the rights agent and warrant agent, and are subject to the terms
and provisions contained therein, all of which terms and provisions the holder of this certificate consents to by acceptance hereof.
Copies of the Rights Agreement and the Warrant Agreement are on file at the office of Continental Stock Transfer & Trust Company
at 1 State Street, New York, New York 10004 and are available to any Right Holder or Warrant Holder, respectively, on written request
and without cost

 

This certificate is not valid
unless countersigned by the Transfer Agent and Registrar of the Company.

 

Witness the facsimile seal
of the Company and the facsimile signatures of its duly authorized officers.

 

	By	 	 	 
	 	Chairman of the Board	 	Chief Financial Officer

 

    

     

    

 

International Media Acquisition Corp.

 

The Company will furnish without
charge to each stockholder who so requests, a statement of the powers, designations, preferences and relative, participating, optional
or other special rights of each class of stock or series thereof of the Company and the qualifications, limitations, or restrictions of
such preferences and/or rights.

 

The following abbreviations,
when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to
applicable laws or regulations:

 

	TEN COM	—	as tenants in common	 	UNIF GIFT MIN ACT	—	 	Custodian	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	(Cust)	 	(Minor)
	TEN ENT	—	as tenants by the entireties	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	JT TEN	—	as joint tenants with right of survivorship and not as tenants in common	 	 	under Uniform Gifts to Minors Act

                                                

	 	 	 	 	 	 
	 	 	 	 	(State)

 

Additional abbreviations may also be used though
not in the above list.

 

	For value received, ___________________________ hereby sell, assign and transfer unto

 

	PLEASE INSERT SOCIAL SECURITY OR OTHER

IDENTIFYING NUMBER OF ASSIGNEE	 
	 	 
	 	 

 

	(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)

 

____________________________________________________________________________ Units
represented by the within Certificate, and do hereby irrevocably constitute and appoint

 

____________________________________________________________________________ Attorney to transfer
the said Units on the books of the within named Company will full power of substitution in the premises.

 

	Dated	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	Notice:	The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever.

 

	Signature(s) Guaranteed:	 
	 	 
	 	 
	THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).	 

 

    

     

    

 

The holder(s) of this certificate shall be
entitled to receive a pro-rata portion of the funds from the trust account with respect to the common stock underlying this certificate
only in the event that (i) the Company is forced to liquidate because it does not consummate an initial business combination within
the period of time set forth in the Company’s Amended and Restated Certificate of Incorporation, as the same may be amended from
time to time (the “Charter”), or (ii) if the holder seeks to convert his shares upon consummation of, or sell his shares
in a tender offer in connection with, an initial business combination or in connection with certain amendments to the Charter. In no other
circumstances shall the holder(s) have any right or interest of any kind in or to the trust account.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00330-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00330-of-00352.parquet"}]]