Document:

Exhibit 10.7

 

ACI Corp. 5 

399 Park Ave. 

New York, New York 10022

 

February 16, 2021

 

CAA 5 LLC

 

399 Park Avenue

New York, New York 10022

 

	 	RE:	Securities Subscription Agreement

 

Ladies and Gentlemen:

 

This agreement (the
 “Agreement”) is entered into on February 16, 2021 by and between CAA 5 LLC, a Delaware limited liability
company (the “Subscriber” or “you”), and ACI Corp. 5, a Delaware corporation (the “Company”,
 “we” or “us”). Pursuant to the terms hereof, the Company hereby accepts the offer the Subscriber
has made to purchase 5,750,000 shares of Class B common stock, $0.0001 par value per share (the “Shares”),
up to 750,000 of which are subject to forfeiture by you if the underwriters of the initial public offering (“IPO”)
of units (“Units”) of the Company, do not fully exercise their over-allotment option (the “Over-allotment
Option”). The Company and the Subscriber’s agreements regarding such Shares are as follows:

 

1. Purchase of Securities.

 

1.1. Purchase of
Shares. For the sum of $25,000 (the “Purchase Price”), which the Company acknowledges receiving in cash,
the Company hereby issues the Shares to the Subscriber, and the Subscriber hereby purchases the Shares from the Company, subject
to forfeiture, on the terms and subject to the conditions set forth in this Agreement.  Concurrently
with the Subscriber’s execution of this Agreement, the Company shall, at its option, deliver to the Subscriber a certificate
registered in the Subscriber’s name representing the shares (the “Original Certificate”), or effect such
delivery in book-entry form.

 

2. Representations, Warranties
and Agreements.

 

2.1. Subscriber’s
Representations, Warranties and Agreements. To induce the Company to issue the Shares to the Subscriber, the Subscriber hereby
represents and warrants to the Company and agrees with the Company as follows:

 

2.1.1. 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 offering of the Shares.

 

2.1.2. 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 formation and governing documents of the Subscriber,
(ii) any agreement, indenture 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.

 

2.1.3. Organization
and Authority. The Subscriber is a Delaware limited liability company, validly existing and in good standing under the laws
of Delaware and possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement.
Upon execution and delivery by you, this Agreement is a legal, valid and binding agreement of Subscriber, enforceable against Subscriber
in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance
or similar laws affecting the enforcement of creditors’ rights generally and subject to general principles of equity (regardless
of whether enforcement is sought in a proceeding at law or in equity).

 

     

     

    

 

2.1.4. Experience,
Financial Capability and Suitability. Subscriber is: (i) sophisticated in financial matters and is able to evaluate the
risks and benefits of the investment in the Shares and (ii) able to bear the economic risk of its investment in the Shares
for an indefinite period of time because the Shares have not been registered under the Securities Act (as defined below) and therefore
cannot be sold unless subsequently registered under the Securities Act or an exemption from such registration is available. Subscriber
is capable of evaluating the merits and risks of its investment in the Company and has the capacity to protect its own interests.
Subscriber must bear the economic risk of this investment until the Shares are sold pursuant to: (i) an effective registration
statement under the Securities Act or (ii) an exemption from registration available with respect to such sale. Subscriber
is able to bear the economic risks of an investment in the Shares and to afford a complete loss of Subscriber’s investment
in the Shares.

 

2.1.5. Access
to Information; Independent Investigation. Prior to the execution of this Agreement, the Subscriber has had the opportunity
to ask questions of and receive answers from representatives of the Company concerning an investment in the Company, as well as
the finances, operations, business and prospects of the Company, and the opportunity to obtain additional information to verify
the accuracy of all information so obtained. In determining whether to make this investment, Subscriber has relied solely on Subscriber’s
own knowledge and understanding of the Company and its business based upon Subscriber’s own due diligence investigation and
the information furnished pursuant to this paragraph. Subscriber understands that no person has been authorized to give any information
or to make any representations which were not furnished pursuant to this Section 2 and Subscriber has not relied on any other
representations or information in making its investment decision, whether written or oral, relating to the Company, its operations
and/or its prospects.

 

2.1.6. Regulation
D Offering. 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 the sale
contemplated hereby is being made in reliance on a private placement exemption to “accredited investors” within the
meaning of Section 501(a) of Regulation D under the Securities Act or similar exemptions under state law.

 

2.1.7. Investment
Purposes. The Subscriber is purchasing the Shares solely for investment purposes, for the Subscriber’s own account and
not for the account or benefit of any other person, and not with a view towards the distribution or dissemination thereof. The
Subscriber did not decide to enter into this Agreement as a result of any general solicitation or general advertising within the
meaning of Rule 502 under the Securities Act.

 

2.1.8. Restrictions
on Transfer; Shell Company. Subscriber understands the Shares are being offered in a transaction not involving a public offering
within the meaning of the Securities Act. Subscriber understands the Shares will be “restricted securities” within
the meaning of Rule 144(a)(3) under the Securities Act, and Subscriber understands that the certificates or book-entries
representing the Shares will contain a legend in respect of such restrictions. If in the future the Subscriber decides to offer,
resell, pledge or otherwise transfer the Shares, such Shares may be offered, resold, pledged or otherwise transferred only pursuant
to: (i) registration under the Securities Act, or (ii) an available exemption from registration. Subscriber agrees that
if any transfer of its Shares or any interest therein is proposed to be made, as a condition precedent to any such transfer, Subscriber
may be required to deliver to the Company an opinion of counsel satisfactory to the Company. Absent registration or an exemption,
the Subscriber agrees not to resell the Shares. 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 Shares until one year following consummation of the initial business
combination of the Company, despite technical compliance with the requirements of Rule 144 and the release or waiver of any
contractual transfer restrictions.

 

2.1.9. No Governmental
Consents. No governmental, administrative or other third party consents or approvals are required, necessary or appropriate
on the part of Subscriber in connection with the transactions contemplated by this Agreement.

 

2.2. Company’s
Representations, Warranties and Agreements. To induce the Subscriber to purchase the Shares, the Company hereby represents
and warrants to the Subscriber and agrees with the Subscriber as follows:

 

2.2.1. Organization
and Corporate Power. The Company is a Delaware corporation and is qualified to do business in every jurisdiction in which the
failure to so qualify would reasonably be expected to have a material adverse effect on the financial condition, operating results
or assets of the Company. The Company possesses all requisite corporate power and authority necessary to carry out the transactions
contemplated by this Agreement.

 

    	 	2	 

     

    

 

2.2.2. No Conflicts.
The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions contemplated
hereby do not violate, conflict with or constitute a default under (i) the Certificate of Incorporation or By Laws of the
Company, (ii) any agreement, indenture or instrument to which the Company is a party or (iii) 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.

 

2.2.3. Title
to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the Shares will be duly and validly
issued, fully paid and nonassessable. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the Subscriber
will have or receive good title to the Shares, free and clear of all liens, claims and encumbrances of any kind, other than (a) transfer
restrictions hereunder and other agreements to which the Shares may be subject which have been notified to the Subscriber in writing,
(b) transfer restrictions under federal and state securities laws, and (c) liens, claims or encumbrances imposed due
to the actions of the Subscriber.

 

2.2.4. No Adverse
Actions. There are no actions, suits, investigations or proceedings pending, threatened against or affecting the Company which:
(i) seek to restrain, enjoin, prevent the consummation of or otherwise affect the transactions contemplated by this Agreement
or (ii) question the validity or legality of any transactions or seeks to recover damages or to obtain other relief in connection
with any transactions.

 

3. Forfeiture of Shares.

 

3.1. Partial or
No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO is
not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall
forfeit any and all rights to such number of Shares (up to an aggregate of 750,000 Shares and pro rata based upon the percentage
of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial
stockholders prior to the IPO, if any) will own an aggregate number of Shares, not including Shares issuable upon exercise of any
warrants or any Common Stock purchased by Subscriber in the IPO or in the aftermarket equal to 20% of the issued and outstanding
Shares immediately following the IPO.

 

3.2. Termination
of Rights as Stockholder. If any of the Shares are forfeited in accordance with this Section 3, then after such time the
Subscriber (or successor in interest), shall no longer have any rights as a holder of such forfeited Shares, and the Company shall
take such action as is appropriate to cancel such forfeited Shares.

 

3.3. Share Certificates.
In the event an adjustment to the Original Certificates, if any, is required pursuant
to this Section 3, then the Subscriber shall return such Original Certificates to the Company or its designated agent as soon
as practicable upon its receipt of notice from the Company advising Subscriber of such adjustment, following which a new certificate
(the “New Certificate”), if any, shall be issued in such amount representing the adjusted number of Shares held
by the Subscriber. The New Certificate, if any, shall be returned to the Subscriber as soon as practicable. Any such adjustment
for any uncertificated securities held by the Subscriber shall be made in book-entry form.

 

4. Waiver of Liquidation Distributions;
Redemption Rights. In connection with the Shares purchased pursuant to this Agreement, the Subscriber hereby waives any and
all right, title, interest or claim of any kind in or to any distributions by the Company from the trust account which will be
established for the benefit of the Company’s public stockholders and into which substantially all of the proceeds of the
IPO will be deposited (the “Trust Account”), in the event of a liquidation of the Company upon the Company’s
failure to timely complete an initial business combination. For purposes of clarity, in the event the Subscriber purchases Shares
in the IPO or in the aftermarket, any additional Shares so purchased shall be eligible to receive any liquidating distributions
by the Company. However, in no event will the Subscriber have the right to redeem any Shares into funds held in the Trust Account
upon the successful completion of an initial business combination.

 

5. Restrictions on Transfer.

 

5.1. Securities
Law Restrictions. In addition to any restrictions to be contained in that certain letter agreement (commonly known as an “Insider
Letter”) to be dated as of the closing of the IPO by and between Subscriber and the Company, Subscriber agrees not to
sell, transfer, pledge, hypothecate or otherwise dispose of all or any part of the Shares unless, prior thereto (a) a registration
statement on the appropriate form under the Securities Act and applicable state securities laws with respect to the Shares proposed
to be transferred shall then be effective or (b) the Company has received an opinion from counsel reasonably satisfactory
to the Company, that such registration is not required because such transaction is exempt from registration under the Securities
Act and the rules promulgated by the Securities and Exchange Commission thereunder and with all applicable state securities
laws.

 

    	 	3	 

     

    

 

5.2.  Lock-up.
Subscriber acknowledges that the Securities will be subject to lock-up provisions (the “Lock-up”) contained
in the Insider Letter.

 

5.3.  Restrictive
Legends. Any certificates representing the Shares shall have endorsed thereon legends substantially as follows:

 

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

 

“THE SECURITIES REPRESENTED BY THIS
CERTIFICATE ARE SUBJECT TO A LOCKUP AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE TERM
OF THE LOCKUP.”

 

5.4. Additional
Shares or Substituted Securities. In the event of the declaration of a share dividend, the declaration of an extraordinary
dividend payable in a form other than Shares, a spin-off, a share split, an adjustment in conversion ratio, a recapitalization
or a similar transaction affecting the Company’s outstanding Shares without receipt of consideration, any new, substituted
or additional securities or other property which are by reason of such transaction distributed with respect to any Shares subject
to this Section 5 or into which such Shares thereby become convertible shall immediately be subject to this Section 5
and Section 3. Appropriate adjustments to reflect the distribution of such securities or property shall be made to the number
and/or class of Shares subject to this Section 5 and Section 3.

 

5.5. Registration
Rights. Subscriber acknowledges that the Shares are being purchased pursuant to an exemption from the registration requirements
of the Securities Act and will become freely tradable only after certain conditions are met or they are registered pursuant to
a registration rights agreement to be entered into with the Company prior to the closing of the IPO.

 

6. Other Agreements.

 

6.1. Further Assurances.
Subscriber agrees to execute such further instruments and to take such further action as may reasonably be necessary to carry out
the intent of this Agreement.

 

6.2. Notices. All
notices, statements or other documents which are required or contemplated by this Agreement shall be: (i) in writing and delivered
personally or sent by first class registered or certified mail, overnight courier service or facsimile or electronic transmission
to the address designated in writing, (ii) by facsimile to the number most recently provided to such party or such other address
or fax number as may be designated in writing by such party and (iii) by electronic mail, to the electronic mail address most
recently provided to such party or such other electronic mail address as may be designated in writing by such party. Any notice
or other communication so transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the
business day following receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business
day after delivery to an overnight courier service or five (5) days after mailing if sent by mail.

 

6.3. Entire Agreement.
This Agreement, together with the Insider Letter and the Registration Rights Agreement, each substantially in the form to be filed
as an exhibit to the Registration Statement on Form S-1 associated with the Company’s IPO, embodies the entire agreement
and understanding between the Subscriber and the Company with respect to the subject matter hereof and supersedes all prior oral
or written agreements and understandings relating to the subject matter hereof. No statement, representation, warranty, covenant
or agreement of any kind not expressly set forth in this Agreement shall affect, or be used to interpret, change or restrict, the
express terms and provisions of this Agreement.

 

 

    	 	4	 

     

    

 

6.4. Modifications
and Amendments. The terms and provisions of this Agreement may be modified or amended only by written agreement executed by
all parties hereto.

 

6.5. Waivers and
Consents. The terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted, only by
a written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall
be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether
or not similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it was
given, and shall not constitute a continuing waiver or consent.

 

6.6. Assignment.
The rights and obligations under this Agreement may not be assigned by either party hereto without the prior written consent
of the other party.

 

6.7. Benefit. All
statements, representations, warranties, covenants and agreements in this Agreement shall be binding on the parties hereto and
shall inure to the benefit of the respective successors and permitted assigns of each party hereto. Nothing in this Agreement shall
be construed to create any rights or obligations except among the parties hereto, and no person or entity shall be regarded as
a third-party beneficiary of this Agreement.

 

6.8. Governing
Law. This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with and governed
by the laws of New York applicable to contracts wholly performed within the borders of such state, without giving effect to the
conflict of law principles thereof.

 

6.9. Severability.
In the event that any court of competent jurisdiction shall determine that any provision, or any portion thereof, contained
in this Agreement shall be unreasonable or unenforceable in any respect, then such provision shall be deemed limited to the extent
that such court deems it reasonable and enforceable, and as so limited shall remain in full force and effect. In the event that
such court shall deem any such provision, or portion thereof, wholly unenforceable, the remaining provisions of this Agreement
shall nevertheless remain in full force and effect.

 

6.10. No Waiver
of Rights, Powers and Remedies. No failure or delay by a party hereto in exercising any right, power or remedy under this Agreement,
and no course of dealing between the parties hereto, shall operate as a waiver of any such right, power or remedy of such party.
No single or partial exercise of any right, power or remedy under this Agreement by a party hereto, nor any abandonment or discontinuance
of steps to enforce any such right, power or remedy, shall preclude such party from any other or further exercise thereof or the
exercise of any other right, power or remedy hereunder. The election of any remedy by a party hereto shall not constitute a waiver
of the right of such party to pursue other available remedies. No notice to or demand on a party not expressly required under this
Agreement shall entitle the party receiving such notice or demand to any other or further notice or demand in similar or other
circumstances or constitute a waiver of the rights of the party giving such notice or demand to any other or further action in
any circumstances without such notice or demand.

 

6.11. Survival
of Representations and Warranties. All representations and warranties made by the parties hereto in this Agreement or in any
other agreement, certificate or instrument provided for or contemplated hereby, shall survive the execution and delivery hereof
and any investigations made by or on behalf of the parties.

 

6.12. No Broker
or Finder. Each of the parties hereto represents and warrants to the other that no broker, finder or other financial consultant
has acted on its behalf in connection with this Agreement or the transactions contemplated hereby in such a way as to create any
liability on the other. Each of the parties hereto agrees to indemnify and save the other harmless from any claim or demand for
commission or other compensation by any broker, finder, financial consultant or similar agent claiming to have been employed by
or on behalf of such party and to bear the cost of legal expenses incurred in defending against any such claim.

 

    	 	5	 

     

    

 

6.13. Headings
and Captions. The headings and captions of the various subdivisions of this Agreement are for convenience of reference only
and shall in no way modify or affect the meaning or construction of any of the terms or provisions hereof.

  

6.14. Counterparts.
This Agreement may be executed in one 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 any other form of electronic delivery, 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 signature page were an
original thereof.

 

6.15. Construction.
The parties hereto have participated jointly in the negotiation and drafting of this Agreement. If an ambiguity or question
of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties hereto and no presumption
or burden of proof will arise favoring or disfavoring any party hereto because of the authorship of any provision of this Agreement.
The words “include,” “includes,” and “including” will be deemed to be
followed by “without limitation.” Pronouns in masculine, feminine, and neuter genders will be construed to include
any other gender, and words in the singular form will be construed to include the plural and vice versa, unless the context otherwise
requires. The words “this Agreement,” “herein,” “hereof,” “hereby,”
 “hereunder,” and words of similar import refer to this Agreement as a whole and not to any particular subdivision
unless expressly so limited. The parties hereto intend that each representation, warranty, and covenant contained herein will have
independent significance. If any party hereto has breached any representation, warranty, or covenant contained herein in any respect,
the fact that there exists another representation, warranty or covenant relating to the same subject matter (regardless of the
relative levels of specificity) which such party hereto has not breached will not detract from or mitigate the fact that such party
hereto is in breach of the first representation, warranty, or covenant.

 

6.16. Mutual Drafting.
This Agreement is the joint product of the Subscriber and the Company and each provision hereof has been subject to the mutual
consultation, negotiation and agreement of such parties and shall not be construed for or against any party hereto.

 

7. Voting and Tender of Shares.
Subscriber agrees to vote the Shares in favor of an initial business combination that the Company negotiates and submits for approval
to the Company’s stockholders and shall not seek redemption with respect to such Shares. Additionally, the Subscriber agrees
not to tender any Shares in connection with a tender offer presented to the Company’s stockholders in connection with an
initial business combination negotiated by the Company.

 

8. Indemnification. Each party
shall indemnify the other against any loss, cost or damages (including reasonable attorney’s fees and expenses) incurred
as a result of such party’s breach of any representation, warranty, covenant or agreement in this Agreement.

 

[Signature Page Follows]

 

    	 	6	 

     

    

 

If the foregoing accurately
sets forth our understanding and agreement, please sign the enclosed copy of this Agreement and return it to us.

 

	 	Very truly yours.
	 	 
	 	ACI CORP. 5 
	 	 
	 	By:	/s/
    Kenneth Moelis 
	 	Name: 	Kenneth Moelis 
	 	Title:	Chief Executive Officer

 

	Accepted and agreed as of the date first written above.
	 
	 	 
	CAA 5 LLC	 
	 	 
	By:	/s/
    Kenneth Moelis 	 
	Name: 	Kenneth Moelis 	 
	Title:	Managing Member
	 

 

[Signature Page to
Securities Subscription Agreement]Exhibit 10.8

 

ATLAS CREST INVESTMENT CORP. V

399 Park Avenue

New York, NY 10022

 

[ ], 2021

 

Moelis & Company LLC

399 Park Avenue

New York, NY 10022

 

Re: Support
Agreement

 

Ladies and Gentlemen:

 

1.                  
This letter agreement by and between Atlas Crest Investment Corp. V (the “Company”) and Moelis &
Company LLC (“Moelis”), 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 New York Stock Exchange (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)	Moelis shall make available, or cause to be made available, to the Company, at 399 Park Avenue,
New York, New York 10022 (or any successor location of Moelis), certain office space and secretarial and administrative services
as may be reasonably required by the Company; and

 

		(ii)	Moelis, or its parent, Moelis & Company Group LP, shall make available certain corporate development
and other operational support, including accounting and legal services, as may be reasonably required by the Company (the services
set forth in clauses (i) and (ii) are referred to herein as, the “Services”).

 

In exchange therefor,
the Company shall pay Moelis the sum of $10,000 per month on the Listing Date and continuing monthly thereafter until the Termination
Date.

 

2.                  We are an independent contractor (and we are expressly not acting as a fiduciary) with the contractual duties described
herein owing only to the Company. Since we will be acting on the Company’s behalf, the Company and we agree to the indemnity
and other provisions set forth in Annex A. The Company’s obligations set forth therein shall be in addition
to any rights that any Indemnified Person may have at common law or otherwise. Other than the Indemnified Persons, there are no
third-party beneficiaries of this agreement.

 

3.                  
Either of us may terminate this agreement at any time, with or without cause, on written notice. In the event
of any termination, we will continue to be entitled to the fees that became payable hereunder prior to termination. Annex A,
Sections 2 through 6 shall remain in full force and effect after the completion or termination of this agreement.

 

4.                   Moelis
is an independent investment bank which is engaged in a range of investment banking activities. Certain affiliates of Moelis
are engaged in asset management and other activities for their own account and otherwise. Moelis and its affiliates may have
interests that differ from the Company’s interests. Moelis and its affiliates have no duty to disclose to the Company,
or use for the Company’s benefit, any information acquired in the course of providing services to any other party,
engaging in any transaction or carrying on any other businesses. Moelis’ employees, officers, partners and affiliates
may at any time own the Company’s securities or those of any other entity involved in any transaction contemplated by
this agreement. Moelis recognizes its obligations under applicable securities laws in connection with the purchase and sale
of such securities. The provision of the Services by Moelis to the Company as set forth herein or the entry into this
agreement by Moelis with the Company shall not restrict or prevent Moelis from acting as a financial advisor, placement agent
or investment banker to any other party, including without limitation, (i) to a party that is the counterparty in an initial
business combination contemplated or to be consummated by the Company or (ii) another special purpose acquisition company
evaluating the same or similar initial business combination as the Company .

 

     

     

    

 

5.                  
Moelis 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 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”)
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.

 

6.                  
This agreement and any disputes or claims that may arise out of this agreement shall be governed by and construed
in accordance with the internal laws of the State of New York, and this agreement embodies the entire agreement and supersedes
any prior written or oral agreement relating to the subject matter hereof, and may only be amended or waived in writing signed
by both the Company and us. If any part of this agreement is judicially determined to be unenforceable, it shall be interpreted
to the fullest extent enforceable so as to give the closest meaning to its intent and the remainder of this agreement shall continue
in full force and effect. Any proceeding arising out of this agreement shall be heard exclusively in a New York state or federal
court sitting in the city and county of New York, to whose jurisdiction and forum Moelis and the Company irrevocably submit. The
Company also irrevocably consents to the service of process in any such proceeding by mail to the Company’s address set forth
above. This agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which
shall constitute one and the same agreement. This agreement shall be binding upon the Company and us and its and our respective
successors and assigns. WE AND THE COMPANY (ON ITS OWN BEHALF AND, TO THE EXTENT PERMITTED BY APPLICABLE LAW, ON BEHALF OF ITS
SECURITY HOLDERS) WAIVE ANY RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY PROCEEDING ARISING OUT OF THIS AGREEMENT.

 

(Signature page follows)

 

     2

     

    

 

	 	Very truly yours,
	 	 
	 	ATLAS CREST INVESTMENT CORP. V
	 	 
	 	 
	 	By:	 
	 	 	Name:   Michael Spellacy
	 	 	Title:     Chief Executive Officer
	 	 
	 	MOELIS & COMPANY LLC
	 	 
	 	 
	 	By:	 
	 	 	Name:   Ken Moelis
	 	 	Title:     Chief Executive Officer

 

[Services Agreement Signature Page]

 

     

     

    

 

ANNEX A

 

In the event that Moelis & Company
LLC or our affiliates or any of our or our affiliates’ respective current or former directors, officers, partners, managers,
agents, representatives or employees (including any person controlling us or any of our affiliates) (collectively, “Indemnified
Persons”) becomes involved in any capacity in any actual or threatened action, claim, suit, investigation or proceeding (an
 “Action”) arising out of, related to or in connection with this agreement or any matter referred to herein, the Company
will reimburse such Indemnified Person for the reasonable out-of-pocket costs and expenses (including counsel fees) of investigating,
preparing for and responding to such Action or enforcing this agreement, as they are incurred. The Company will also indemnify
and hold harmless any Indemnified Person from and against, and the Company agrees that no Indemnified Person shall have any liability
to the Company or its affiliates, or their respective owners, directors, officers, employees, security holders or creditors for,
any losses, claims, damages or liabilities (collectively, “Losses”) (A) related to or arising out of oral or written
statements or omissions made or information provided by the Company or its agents or (B) otherwise arising out of, related to or
in connection with this agreement or our performance thereof, except that this clause (B) shall not apply to Losses that are finally
judicially determined to have resulted primarily from the bad faith or gross negligence of such Indemnified Person.

 

If such indemnification or limitation on
liability are for any reason not available or insufficient to hold an Indemnified Person harmless, the Company agrees to contribute
to the Losses in such proportion as is appropriate to reflect the relative benefits received (or anticipated to be received) by
the Company, on the one hand, and by us, on the other hand, with respect to this agreement or, if such allocation is judicially
determined to be unavailable, in such proportion as is appropriate to reflect the relative benefits and relative fault of the Company
on the one hand and of us on the other hand, and any other equitable considerations; provided, however, that, to the extent permitted
by applicable law, in no event shall the Indemnified Persons be responsible for amounts that exceed the fees actually received
by us from the Company in connection with this agreement. Relative benefits to the Company, on the one hand, and us, on the other
hand, with respect to this agreement shall be deemed to be in the same proportion as (i) the total value paid or proposed to be
paid or received or proposed to be received by the Company or its security holders, as the case may be, pursuant to the Transaction(s),
whether or not consummated, bears to (ii) the fees actually received by us in connection with this agreement.

 

The Company will not, without our prior
written consent (not to be unreasonably withheld), settle, compromise, consent to the entry of any judgment in or otherwise seek
to terminate (a “Settlement”) any Action in respect of which indemnification is or may be sought hereunder (whether
or not an Indemnified Person is a party thereto) unless such Settlement includes a release of each Indemnified Person from any
Losses arising out of such Action. The Company will not permit any such Settlement to include a statement as to, or an admission
of, fault or culpability by or on behalf of an Indemnified Person without such Indemnified Person’s prior written consent.
No Indemnified Person seeking indemnification, reimbursement or contribution under this agreement will, without the Company’s
prior written consent (not to be unreasonably withheld), agree to the Settlement of any Action.

 

Prior to effecting any proposed sale, exchange,
dividend or other distribution or liquidation of all or substantially all of its assets or any significant recapitalization or
reclassification of its outstanding securities that does not explicitly or by operation of law provide for the assumption of the
obligations of the Company set forth herein, the Company will notify us in writing of its arrangements for the Company’s
obligations set forth herein to be assumed by another creditworthy party (for example through insurance, surety bonds or the creation
of an escrow) upon terms and conditions reasonably satisfactory to the Company and us.

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