Document:

EX-10.8

 Exhibit 10.8 

Lerer Hippeau Acquisition Corp. 

100 Crosby Street, Suite 201 
 New
York, NY 10012 
  

			
	Lerer Hippeau Ventures Management, LLC	  	[●], 2021
	100 Crosby Street, Suite 201	  	
	New York, NY 10012	  	

  

	Re:	 Administrative Services Agreement 

Gentlemen: 
 This letter agreement by and between Lerer Hippeau
Acquisition Corp., a Delaware corporation (the “Company”), and Lerer Hippeau Ventures Management, LLC, a Delaware limited liability company (“LHV Management”), 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 Stock Market LLC (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 (File No. 333-253066) filed with the
Securities and Exchange Commission) (such earlier date hereinafter referred to as the “Termination Date”): 
  

	 	1.	 LHV Management shall make available to the Company, at 100 Crosby Street, Suite 201, New York, NY 10012 (or any
successor location or other existing office locations of LHV Management or any of its affiliates), certain office space, administrative and support 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 LHV Management the sum of $10,000 per month commencing on the Listing Date and continuing monthly thereafter until the Termination Date; and 

 

	 	2.	 LHV Management 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 LHV Management 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] 

  
 2 

 
			
	Very truly yours,
	
	LERER HIPPEAU ACQUISITION CORP.
		
	By:	 	  

	Name:
	Title:

  

			
	AGREED TO AND ACCEPTED BY:
	
	LERER HIPPEAU VENTURES MANAGEMENT, LLC
		
	By:	 	  

	Name:
	Title:

  
 [Signature Page to
Administrative Services Agreement]Document

                                                                                                                                         Exhibit 10.17

AMENDMENT NO. 1 TO THE SHAREHOLDERS’ AGREEMENT
THIS AMENDMENT NO. 1 (the Amendment) TO THE ROWAN SHAREHOLDERS’ AGREEMENT is made on 18 December 2017
BETWEEN
(1)    SAUDI ARAMCO DEVELOPMENT COMPANY, a limited liability company incorporated and registered in the Kingdom with commercial registration number 2052002216, having a registered share capital of SAR 500,000 and with its registered office at P.O. Box 500, Dhahran, 3131, the Kingdom (Saudi Aramco);
(2)    ROWAN REX LIMITED, a limited company duly organised and existing under the laws of the British Overseas Territory of the Cayman Islands (Rowan, and together with Saudi Aramco, the Shareholders); and
(3)    SAUDI ARAMCO ROWAN OFFSHORE DRILLING COMPANY, a limited company incorporated and registered in the Kingdom with commercial registration number 2051064243, having a registered share capital of SAR 187,500,000 and with its registered office at P.O. Box 3039, Al-Khobar, 34218, the Kingdom of Saudi Arabia (the Company).
WHEREAS
(A)    The Shareholders are parties to that certain Shareholders’ Agreement, dated November 21, 2016 (the Agreement), as acceded to on 25 May 2017 by and related to the Company.
(B)    The Company is a 50/50 joint venture formed by the Shareholders to own, operate and manage offshore drilling rigs in the Kingdom and provide services as a contracting company in accordance with the rules and requirements of the Saudi Arabian foreign investment regulations.
(C)    The Shareholders wish to amend the Agreement with respect to Saudi Aramco’s rights to transfer its Shareholder Instruments and its interests in the Transaction Agreements to a newly incorporated Saudi Aramco Qualifying Affiliate in certain circumstances.
IT IS AGREED THAT
1.DEFINITIONS AND INTERPRETATION
1.1    In this Amendment, unless the context otherwise requires, defined terms shall have the
       meanings ascribed thereto in the Agreement.

1.2    The interpretive provisions of Clause 1.2 of the Agreement shall apply to this                                                                                                                                                                                                     Amendment, mutatis mutandis, as if fully set forth herein,

2. AMENDMENT TO THE AGREEMENT

2.1    The Parties acknowledge that, in the period between the Effective Date and the Project Operations Date, Saudi Aramco had the benefit of certain rights in relation to a transfer of its Shareholder Instruments and its entire interest in each Transaction Agreement to which Saudi Aramco is a party to a newly incorporated Saudi Aramco Qualifying Affiliate, such rights as set out in paragraph 8 of Schedule 2 of the Agreement.

2.2     The Parties acknowledge that the Project Operations Date for the purposes of the   Agreement occurred on 17 October 2017 (the Actual Project Operations Date).

2.3     The Parties hereby acknowledge and agree that Saudi Aramco’s rights and obligations under paragraph 8 of Schedule 2 of the Agreement shall continue to apply from the Actual Project Operations Date up to and including 30 June 2018 (the Extension Date) and that, subject to the rights and obligations set out in paragraph 8 of Schedule 2 of the Agreement, Saudi Aramco shall be entitled to transfer its Shareholder Instruments, and its entire interest in each Transaction Agreement to which Saudi Aramco is a party to, to a Saudi Aramco Qualifying Affiliate at any time on or before the Extension Date.
3.    GENERAL PROVISIONS
3.1    The provisions of Clauses 18 and 25 of the Agreement shall apply to this Amendment, mutatis mutandis, as if fully set forth herein.

3.2    Save as amended pursuant to this Amendment, the provisions of the Agreement shall continue in full force and effect.
3.3     If there is any conflict between the terms of this Amendment and the Agreement, this Amendment shall prevail.
3.4    This Agreement and any non-contractual rights or obligations arising out of or in connection with it shall be governed by and construed in accordance with the laws of The Kingdom.
[Signature page follows]

 

This Amendment has been entered into on the date stated at the beginning of it.
SAUDI ARAMCO DEVELOPMENT COMPANY
By:    /s/ Ziad T. Al-Murshed
Name:    Ziad T. Al-Murshed    
Title:    Executive Director    
In the presence of: 
Signature of witness    /s/ Abdulrahman Matsun /s/ Mohammad A. Qandi
Name of witness     Abdulrahman Matsun      Mohammad A. Qandi    
Address of witness     Dhahran, KSA     Dhahran, KSA    
Occupation of witness    Lawyer         Attorney    
ROWAN REX LIMITED
By:    /s/ Mark F. Mai    
Name:    Mark F. Mai    
Title:    Vice President and Secretary    
In the presence of: 
Signature of witness    /s/ Momen Wishahy     /s/ Ebhrahim Hal
Name of witness     Momen Wishahy    Ebhrahim Hal
Address of witness     Houston, TX        Houston, TX
Occupation of witness    Engineer        EngineerDocument

                                                                                                                                         Exhibit 10.18

AMENDMENT NO. 2 TO THE SHAREHOLDERS’ AGREEMENT
THIS AMENDMENT NO. 2 (the Amendment) to the Shareholders' Agreement (the Agreement) is made on June 28, 2018.
BETWEEN:
(1)Saudi Aramco Development Company, a single shareholder limited liability company incorporated and registered in the Kingdom of Saudi Arabia with commercial registration number 2052002216, having a registered share capital of SAR 500,000 and its registered office at P.O. Box 5000, Dhahran, 31311, the Kingdom of Saudi Arabia (Saudi Aramco);
(2)Rowan Rex Limited, a limited company duly organized and existing under the laws of the British Overseas Territory of the Cayman Islands (Rowan);
(3)Saudi Aramco Rowan Offshore Drilling Company, a limited liability company established pursuant to the rules and regulations of the Kingdom of Saudi Arabia, holding commercial registration certificate number 2051064243 dated 20/08/1438H, with a registered capital of SAR 187,500,000 and having its principal office at Al-Khobar, Kingdom of Saudi Arabia (the Company); and
(4)Mukamala Oil Field Services Limited, a limited liability company established pursuant to the rules and regulations of the Kingdom of Saudi Arabia, holding commercial registration certificate number 2052101267 dated 20/09/1439H, with a registered capital of SAR 500,000 and having its principal office at Dhahran, Kingdom of Saudi Arabia (Mukamala).;
(each the Party and together the Parties).
WHEREAS
The Shareholders have entered into the Agreement, dated 31 October 2016, which was later amended on 18 December 2017 to form and manage the Company as a 50/50 joint venture formed to own, operate, and manage offshore drilling rigs in the Kingdom and provide services as a contracting company in accordance with the Rules and requirements of the Kingdom;
the Company acceded to the Agreement on 25 May 2017;
the Agreement provides Saudi Aramco the right to transfer its Shareholder Instruments and its interests in the Transaction Agreements to a newly incorporated Saudi Aramco Qualifying Affiliate;
Saudi Aramco has provided written notice to Rowan and the Company on 22 May 2018 of Saudi Aramco's intention to transfer its Shareholder Instruments and its interests in some of the Transaction Agreements to Mukamala pursuant to paragraph 8 of schedule 2 of the Agreement (the Notice);

the Shareholders wish to amend the Agreement to reflect the transfer to Mukamala and the change in ownership of the Company pursuant to the Notice.
IT IS AGREED THAT
1.DEFINITIONS AND INTERPRETATION
1.1    In this Amendment, unless defined herein or the context otherwise requires, capitalized terms shall have the meaning ascribed thereto under the Agreement.
1.2    The interpretive provisions of Clause 1.2 of the Agreement shall apply to this Amendment, mutatis mutandis, as if fully set forth herein.
2.AMENDMENT TO THE AGREEMENT
2.1    The Parties hereby acknowledge and agree that as of the date of this Amendment:
(a)    all reference to Saudi Aramco in the Agreement and the preamble to the Agreement are hereby replaced to reference Mukamala, as if Mukamala were named a Party to the Agreement instead of Saudi Aramco;
(b)    Saudi Aramco is hereby released and discharged from all and any obligations owed and/or owing by it under the Agreement, and
(c)    Mukamala hereby assumes all rights and obligations of Saudi Aramco pursuant to, and arising from, the Agreement as if Mukamala were named a Party to the Agreement instead of Saudi Aramco.
3.GENERAL PROVISIONS
3.1    The provisions of Clause 18 and Clause 25 of the Agreement shall apply to this  Amendment, mutatis mutandis, as if fully set forth herein.
3.2    Save as amended pursuant to this Amendment, the provisions of the Agreement shall continue in full force and effect.
3.3    If there is any conflict between the terms of this Amendment and the Agreement, this Amendment shall prevail.
3.4    This Amendment may be executed and delivered in any number of counterparts and this has the same effect as if the signatures on the counterparts were on a single copy of this Amendment.
3.5    This Amendment and any non-contractual rights or obligations arising out of or in connection with it shall be governed by and constructed in accordance with the laws of the Kingdom of Saudi Arabia.
 

[Signature pages follows]

This Amendment has been entered into on the date stated at the beginning of it.
SAUDI ARAMCO DEVELOPMENT COMPANY
By:    /s/ Yasser M. Mufti
Name:    Yasser M. Mufti
Title:    Chairman
In the presence of: 
Signature of witness     /s/ Mohammad A. Qandi     /s/ Eyad Aljubran    
Name of witness     Mohammad A. Qandi        Eyad Aljubran    
Address of witness     Dhahran        Dhahran    
Occupation of witness    Attorney        Attorney    
ROWAN REX LIMITED
By:    /s/ Mohammed Al-Qahtani
Name:    Mohammed Al-Qahtani
Title:    Attorney-in-Fact
In the presence of: 
Signature of witness    /s/ Abdullah Alsqoed        /s/ Signatory
Name of witness     /s/ Abdullah Alsqoed        Signatory    
Address of witness     Riyadh, Saudi Arabia        Riyadh, Saudi Arabia
Occupation of witness    Lawyer        Lawyer

 

MUKAMALA OIL FIELDS SERVICES LIMITED
By:    /s/ Mohanad M. Alamdar    
Name:    Mohanad M. Alamdar
Title:    Manager    
In the presence of: 
Signature of witness    /s/ Ali Awadh Alenazi        /s/ Anas Saad Aldossary    
Name of witness     Ali Awadh Alenazi        Anas Saad Aldossary    
Address of witness     Dhahran        Dhahran    
Occupation of witness    Division Head (PM)        Business Dev Analyst

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