Document:

Exhibit 10.5

 

EXECUTION VERSION

 

Bright Lights Acquisition Corp.

12100 Wilshire Blvd, Suite 1150

Los Angeles, CA 90025

 

January 6, 2021

 

Bright Lights Sponsor LLC

12100 Wilshire Blvd, Suite 1150

Los Angeles, CA 90025

 

Re: Administrative Services Agreement

 

Gentlemen:

 

This letter agreement by and between Bright Lights Acquisition
Corp., a Delaware corporation (the “Company”), and Bright Lights Sponsor LLC, a Delaware limited liability
company (the “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”)
and continuing until the earlier of the consummation by the Company of an initial business combination and the Company’s
liquidation (in each case as described in the Registration Statement on Form S-1, as amended (File No. 333-251513), filed with
the Securities and Exchange Commission) (such earlier date hereinafter referred to as the “Termination Date”):

 

		1.	The Sponsor shall make available to the Company, at 12100 Wilshire Blvd, Suite 1150, Los Angeles, CA 90025 (or any successor
location or other existing office locations of the Sponsor or any of its affiliates), certain office space, secretarial and administrative
services, including compliance services, as may be reasonably requested by the Company. In exchange therefor, the Company shall
pay, on the first day of each month, to the Sponsor the sum of $10,000 per month commencing on the Listing Date and continuing
monthly thereafter until the Termination Date; and

 

		2.	The Sponsor hereby irrevocably waives any and all right, title, interest, causes of action and claims of any kind or nature
whatsoever (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 stockholders 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 presently has or may have in the future as a result of, or arising out of, this letter
agreement, 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 all 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, provided that the Sponsor
may assign this letter agreement to an affiliate without the prior written approval of the Company. 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, 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
and construed in accordance with the laws of the State of New York.

 

This letter agreement may be executed in one 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 letter
agreement.

 

[Signature page follows]

 

     

    

    

 

	 	Very truly yours,
	 	 
	 	BRIGHT LIGHTS ACQUISITION CORP.
	 	 	 
	 	By:	/s/ Michael Mahan
	 	 	Name:	Michael Mahan
	 	 	Title:	Chief Executive Officer

 

	 	AGREED TO AND ACCEPTED BY:
	 	 
	 	Bright Lights Sponsor LLC
	 	 	 
	 	By:	/s/ Michael Mahan
	 	 	Name:	Michael Mahan
	 	 	Title:	Chief Executive OfficerExhibit 10.6

 

EXECUTION VERSION

 

STRATEGIC SERVICES AGREEMENT

 

This Agreement is made
on this 6th day of January, 2021 by and between Bright Lights Acquisition Corp., a Delaware corporation (the “Company”),
and Hahn Lee (the “Strategic Consultant”). The Company and Strategic Consultant are sometimes hereinafter referred
to singly as the “Party” and collectively as the “Parties.”

 

WHEREAS, the Strategic
Consultant is being appointed by the Company to offer certain professional services as per requirements of the Company, on the
terms and conditions as set forth below:

 

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

 

	 	1.	Services

 

The Strategic Consultant
has been appointed by the Company in the capacity of “Chief Financial Officer and Secretary” to render professional
services as requested by the Company from time to time.

 

	 	2.	Term

 

The term of the Agreement
shall commence on the date the securities of the Company are first listed on The Nasdaq Capital Market, pursuant to a Registration
Statement on Form S-1 filed with the Securities and Exchange Commission, File No. 333-251513 (the “Registration Statement”),
and shall continue 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), unless terminated earlier by either Party pursuant to Section
3 below. During the term of the Agreement, the Strategic Consultant shall report to the Chief Executive Officer of the Company.

 

	 	3.	Termination

 

The Company or the
Strategic Consultant may terminate this Agreement by giving 15 days’ prior written notice to the other Party; provided that
either Party may terminate this Agreement immediately upon written notice to the other Party in the event of a material breach
of this Agreement by such other Party. Upon such termination, the obligations of both Parties shall come to an end (except those
obligations that expressly survive the termination of this Agreement) and the Strategic Consultant shall immediately hand over
to the Company, all documents, papers, data, confidential information or any other information obtained by him during the course
of the Agreement and shall fully co-operate with the Company to ensure a smooth and orderly transition of information, data and
records to the Company.

 

The Company shall be
relieved of any obligation to pay the Strategic Consultant for any services except for those, which may have been performed up
to the date of termination.

 

	 	4.	Relationship

 

Except as specifically
set forth herein, nothing contained in this Agreement shall be construed as creating a contract of employment or partnership among
the Parties. This Agreement does not authorize the Parties to assume, create or undertake any obligation of any kind expressed
or implied, on behalf of or in the name of any of the other Party without express written consent.

 

	 	5.	Compliance with Local Laws

 

The Strategic Consultant
will be responsible for legal and statutory compliance with local laws, taxation and any other business of other laws or any other
country to which he may be deputed. The Strategic Consultant will indemnify the Company all costs, including any interest, penalties
and legal expenses and fees that the Company may incur as a result of non-compliance with any laws or acts as applicable to an
independent service provider.

 

     

     

    

 

	 	6.	Taxes and Insurance

 

The Strategic Consultant
shall be responsible for charging in the invoice and payment of any indirect taxes after recovery from the Company as required
by the regulations. All payments to the Strategic Consultant shall be subject to applicable United States federal, state and local
taxes.

 

The Strategic Consultant
shall be solely responsible for obtaining medical, accident and insurance policies and the Company shall have no obligation or
liability with respect to any expenses incurred by the Strategic Consultant relating to the above-referred risks.

 

	 	7.	Compensation

 

In consideration for
the services to be performed hereunder, the Company shall pay to the Strategic Consultant the sum of $12,500 per month during the
term of this Agreement. Additionally, the Company will reimburse the Consultant for any business expenses, including pre-approved
travel-related expenses, incurred in connection with the provision of services hereunder, in accordance with the Company’s
standard policies and procedures in effect from time to time.

 

	 	8.	Confidentiality

 

During the term of
this Agreement and thereafter at all times, the Strategic Consultant shall keep strictly confidential all non-public information
regarding the Company and its business, including information regarding any transactions or proposed transactions, records and
information received by him from the Company and/or developed or prepared by him or by his staff or sub-contractors, if any, pursuant
to this Agreement. Strategic Consultant will sign a confidentiality agreement before commencing on any assignment if desired by
Company.

 

	 	9.	Performance

 

Failure on part of
the Company, at any time, to require performance of any provisions of the obligations of the Strategic Consultant set forth in
this Agreement, shall not affect the right to require full performance thereof at any time thereafter.

 

	 	10.	Engagement

 

This Agreement is executed
based on the individual professional expertise of the Strategic Consultant and the Strategic Consultant agrees not to assign this
Agreement or any rights or obligations hereunder, to any third party without prior written consent of the Company

 

	 	11.	Amendment

 

No modification, deletion,
amendment or variation of any term or provision of this Agreement shall be of any force or effect, unless stated in writing and
signed by the parties, or in case of a waiver, signed by the party granting the waiver. No verbal agreement or understanding or
conduct of any nature relating to the subject matter hereof shall be considered valid and enforceable.

 

	 	12.	Indemnification

 

Subject to Section
14 below, the Strategic Consultant shall be entitled to indemnification by the Company pursuant to an Indemnification Agreement
being entered into between the Company and the Strategic Consultant on or about the date hereof.

 

	 	13.	Other Obligations

 

The Strategic Consultant
represents and warrants to the Company that he currently is under no contract or agreement, nor has the Strategic Consultant previously
executed any documents whatsoever with any other person, firm, association, or corporation that will, in any manner, prevent the
Strategic Consultant from providing the services contemplated under this Agreement.

 

    2

     

    

 

	 	14.	Waiver

 

The Strategic Consultant
understands that, in connection with the Company’s planned initial public offering (the “IPO”), the Company
intends to establish a trust account (the “Trust Account”), initially in an amount expected to be $200,000,000,
for the benefit of the Company’s public stockholders and that the Company may disburse monies from the Trust Account only
under the limited circumstances to be set forth in the prospectus for the IPO. The Strategic Consultant hereby agrees that he does
not have any right, title, interest or claim of any kind in or to any monies in the Trust Account (“Claim”)
and waives any Claim he may have in the future as a result of, or arising out of, any services provided to the Company hereunder
and will not seek recourse against the Trust Account for any breach by the Company of this Agreement or for any other reason. This
section shall survive the termination of this Agreement for any reason.

 

	 	15.	Miscellaneous

 

(a)               
Entire Agreement. This Agreement constitutes the entire agreement and understanding between the parties with respect to
the Strategic Consultant’s engagement by the Company, and the other subject matters contained herein, expressly superseding
all prior written, oral or implied agreements and understandings.

 

(b)               
Waiver. The waiver by any party of any breach of any covenant or condition of this Agreement shall not be construed as a
waiver of any subsequent breach of such covenant or condition or of the breach of any other restrictive covenant or condition contained
in this Agreement.

 

(c)               
Headings. Any section or paragraph title or caption contained in this Agreement is for convenience only, and in no way defines,
limits or describes the scope or intent of this Agreement or any of the provisions hereof.

 

(d)               
Successors. The Company may assign the rights and benefits given to it in this Agreement. This Agreement shall also survive
any sale of assets, merger, consolidation, or other change in the corporate structure of the Company. The duties of the Contractor
hereunder are personal in nature and, therefore, may not be assigned.

 

(e)               
Severability. If any term, condition, or provision of this Agreement shall be found to be illegal or unenforceable for any
reason, such provision shall be modified or deleted so as to make the balance of this Agreement, as modified, valid and enforceable
to the fullest extent permitted by applicable law.

 

(f)                
Amendment or Modifications. This agreement shall not be amended, revoked, altered or modified in whole or in part, except
by an agreement in writing signed by the parties.

 

(g)               
Governing Law. All questions relating to the interpretation, performance or breach of this Agreement shall be governed by
the law of the State of Delaware.

 

(h)               
Construction. This Agreement shall not be construed against any party by reason of the fact that the party may be responsible
for the drafting of this Agreement or any provision hereof.

 

(i)                
Knowledge of Rights and Duties. The parties have carefully reviewed and completely read all of the provisions of this Agreement
and understand and have been advised that they should consult with their own legal counsel for any and all explanations of their
rights, duties, obligations and responsibilities hereunder.

 

(j)                
Survival. The provisions of Sections 3 through 15 of this Agreement shall survive the termination or expiration, for any
reason, of this Agreement.

 

    3

     

    

 

IN WITNESS WHEREOF,
the parties have executed this Agreement on the dates below indicated.

 

	 	BRIGHT LIGHTS ACQUISITION CORP.
	 	 	 
	 	By:	/s/ Michael Mahan
	 	Name: 	Michael Mahan
	 	Its:	Chief Executive Officer
	 	 	 
	 	STRATEGIC CONSULTANT
	 	 	 
	 	By:	/s/ Hahn Lee
	 	Name:	Hahn Lee

 

 

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