Document:

Exhibit
10.7

 

Administration
Service Agreement

 

This
Administration Service Agreement (the “Agreement”) dated this __ day of [     ], 2022 is between
DT Cloud Capital Corp., herein referred to as “Service Provider” and DT Cloud Acquisition Corporation, herein referred to
as “Customer”.

 

Service
Provider has agreed to provide services to the Customer on the terms and conditions set out in this Agreement, while Customer is of the
opinion that Service Provider has the proper and necessary qualifications, experience and abilities to provide services to Customer.

 

Therefore
in consideration of the matters described above, the receipt and sufficiency of which consideration is hereby acknowledged, the Customer
and the Service Provider agree as follows:

 

	1.	Scope
    of Work

 

The
Service Provider is to provide the Customer with the following services (the “Services”): Company Administration, office
space, utilities, secretarial and administrative support services provided to members of the Customer’s management team.

 

The
services will include any other tasks which the Customer and the Service Provider may agree on.

 

	2.	Term
    of Agreement

 

This
Agreement will begin on [      ], 2022 and will remain in full force and effect for up to nine months (or up
to 21 months, as applicable). This Agreement may be extended by mutual written agreement of the parties.

 

	3.	Termination

 

If
either party seeks termination of this Agreement, the terminating party must provide a 30 days written notice to the other party.

 

	4.	Compensation

 

The
Customer will provide compensation to the Service Provider of US$10,000 per month for the services rendered by the Service Provider as
required by this Agreement. Compensation is payable at the completion of services; provided, however, that the Company may delay payment
of such monthly fee upon a determination by the audit committee of the board of directors of the Company that the Company lacks sufficient
funds held outside of the Trust Account (as defined below) to pay actual or anticipated expenses in connection with an initial business
combination. Any such unpaid amount shall accrue without interest and either be due and payable no later than the date of the Company’s
initial business combination. If the Company does not consummate an initial business combination, any accrued and unpaid amounts hereunder
shall be forgiven. The Sponsor hereby agrees that it does not have any right, title, interest or claim of any kind in or to any monies
that may be set aside in a trust account (the “Trust Account”) to be established upon the consummation of the IPO (the “Claim”)
and hereby waives any Claim it may have in the future as a result of, or arising out of, any negotiations, contracts or agreements with
the Company and will not seek recourse against the Trust Account for any reason whatsoever.

 

    	 

     

    

 

IN
WITNESS WHEREOF the parties have duly affixed their signatures under hand on this day of 2022

 

	DT
    Cloud Acquisition Corporation	 
	 	 	 
	By:	 	 
	Name:	Olivia
    Wenxi He	 
	Title:	CEO	 
	 	 	 
	DT
    Cloud Capital Corp.	 
	 	 	 
	By:	 	 
	Name:	Man
    Chak Leung	 
	Title:	DirectorDocument

Exhibit 10.1

                  4601 Fairfax Drive N, Suite 600 | Arlington, VA 22203
+1 833 358 3623
fluenceenergy.com

August 26, 2022

Manavendra Sial

Dear Manavendra, 
I am delighted to confirm an offer from Fluence Energy, Inc. (“Fluence”) as the Senior Vice President (SVP) and Chief Financial Officer reporting to Julian Nebreda, Chief Executive Officer. The effective date is September 15, 2022. This position is considered a Section 16 Officer position subject to certain external disclosures as Fluence is a publicly traded company. For this position, you may work remotely from your residency or from the Fluence Arlington, Virginia office. Fluence requires the completion of your background check and certification of your eligibility to work in the United States and will require documents evidencing such eligibility from you. In this position you will participate in, or be eligible for, the compensation and benefits outlined below in accordance with the job being evaluated as an Executive Officer at the Executive Officer job grade level EO4. All details within this letter are dependent of approval by the Fluence Compensation Committee and the Fluence Board of Directors.
COMPENSATION AND BENEFITS
Base Salary: Your annual base salary will be $500,000 paid in one-twelfth increments monthly. Your next annual base salary review will be for a January 1, 2024 merit increase consideration and will be reviewed annually thereafter in accordance with Fluence policy and practice, subject to approval by the Board of Directors Compensation Committee. 
Annual Incentive Plan: You are eligible to participate in the Fluence Annual Incentive Plan (“AIP”) effective October 1, 2022 (start of fiscal year 2023), with a target incentive of 75% of your annual base salary as defined in the plan. The AIP award is based upon your individual performance and company performance measured against established objectives for the fiscal measurement year. The AIP award is typically paid in the first business quarter following the end of each fiscal year. Your potential receipt of this AIP award is subject to approval by the Board of Directors Compensation Committee. The plan administrator reserves the right to make determinations regarding the plan at any time.
Benefits: You are eligible to participate in Fluence’s Health and Welfare Benefits Programs and Fluence’s short-term and long-term disability, accidental death and dismemberment, and life insurance plans, beginning on your first day of employment.
Retirement: You will be eligible to participate in The Fluence Energy Savings Plan, which is a 401(k) plan, after you receive your first paycheck. You may contribute up to 50% of your gross salary to your account in accordance with the terms and conditions of the retirement plan and you will receive a company matching contribution of 100% of your contributions up to 5% of your gross salary.
Long-term Incentive Award: We also want you to share in Fluence Energy’s vision and its future. For that reason, you will be awarded a one-time equity grant of $1,400,000 delivered in the form of Restricted Stock Units (RSUs), subject to approval by the Board of Directors Compensation Committee. The grant effective date is your hire date with Fluence, and these RSUs will be awarded to you once you are hired. The grant value is converted to RSUs using the Fluence closing stock price on the grant effective date and are subject to a vesting schedule of one-third annually on the anniversary of the grant date. The plan administrator reserves the right to make determinations regarding this plan at any time. Further details will be provided to you in the coming weeks.

1

                4601 Fairfax Drive N, Suite 600 | Arlington, VA 22203
+1 833 358 3623
fluenceenergy.com

Sign on Cash Bonus: You will receive a one-time payment of $500,000, subject to approval by the Board of Directors Compensation Committee and subject to taxes, paid December 31, 2022, provided you remain employed with Fluence on the payment date. If you voluntarily leave Fluence Energy as an employee prior to September 15, 2025 (three-year anniversary date) or are terminated from Fluence due to Cause as defined in the Executive Severance Plan, you will be required to pay this amount back to Fluence Energy with the payback value reduced pro-rata on a daily basis spread over the three-year period.

Sign on LTI Award: You will receive a one-time payment of $1,200,000 delivered in the form of RSUs with the same grant and vesting rules as the LTI Award described above, subject to approval by the Board of Directors Compensation Committee.
Retention Stability Clause: If Fluence involuntarily terminates your employment prior to your one-year new hire anniversary date for any reason other than Cause as defined in the Executive Severance Plan, Fluence will pay a one-time cash payment of $1,200,000, subject to approval by the Board of Directors Compensation Committee, net of any RSU vesting as applicable, and subject to taxes, within 30 days of termination; this Retention Stability Clause expires on your one-year new hire anniversary date.
Executive Severance Plan: As an Executive Officer of Fluence, you are eligible to participate in the Fluence Executive Severance Plan, subject to approval by the Board of Directors Compensation Committee. Further details will be provided to you in the coming weeks.
Executive Officer Policies: Fluence maintains company policies applicable to all employees. In addition, you are subject to additional policies applicable only to Executive Officers, specifically the Fluence Executive Stock Ownership Guidelines and the Fluence Clawback Policy, as approved by the Board of Directors Compensation Committee. Further details will be provided to you in the coming weeks.
New Hire Paperwork Agreement: Prior to your start date, you will receive a list of pre-hire documents. By signing this offer, you are agreeing to send back all new hire paperwork no later than one week prior to starting with Fluence. If HR does not receive the signed documentation, your start date may be delayed. 
ACCEPTANCE PROCESS
Manavendra, your experience, and background will be an asset to this position, and we look forward to you joining Fluence. To confirm your acceptance of this offer, please print this letter, sign, and return to me through email as soon as possible on Aug 26th 2022. If you have any questions concerning the terms of this offer, please do not hesitate to contact me.
Sincerely,
Larissa Cerqueira
Larissa Cerqueira
Chief Human Resources Officer

Your employment with Fluence Energy is and will be “at will” employment, for an indefinite period of time. This means that you or the Company may terminate the employment relationship at any time, for any reason or for no reason. No oral or written representation made by anyone at Fluence may change the “at will” nature of this relationship. You retain the option, as does Fluence, of ending your employment with Fluence at any time, with or without notice and with or without cause. This letter is governed by the laws of Virginia. Fluence is an “at will” employer; this letter does not constitute a contract for employment.

2

                4601 Fairfax Drive N, Suite 600 | Arlington, VA 22203
+1 833 358 3623
fluenceenergy.com

Read and Accepted:         
Signature:    /s/ Manavendra Sial______________________    Date:    8/26/2022        
                Manavendra Sial                Start Date: September 15, 2022    
3

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