SEC Contract Filing

Filing Date: 2024-12-19

Document Content:
<DOCUMENT>
<TYPE>EX-10.25
<SEQUENCE>4
<FILENAME>latchinc-alixpartnersadden.htm
<DESCRIPTION>EX-10.25
<TEXT>
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<title>Document</title></head><body><div id="i88c02da38a7445e99d8ab7105aeb115b_1"></div><div style="min-height:36.72pt;width:100%"><div><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Exhibit 10.25</font></div></div><div style="padding-left:34.55pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#91;AP Services, LLC Letterhead&#93;</font></div><div style="margin-top:26.4pt;padding-left:35.55pt;padding-right:35.7pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9.5pt;font-weight:400;line-height:117%">January 10, 2023</font></div><div style="padding-right:35.7pt"><font><br></font></div><div style="padding-left:36pt;padding-right:35.7pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9.5pt;font-weight:400;line-height:133%">Mr. Raju Rishi <br>Lead Independent Director </font></div><div style="margin-top:0.35pt;padding-left:35.55pt"><font style="background-color:#ffffff;color:#000000;font-family:'Verdana',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Latch, Inc.</font><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> </font></div><div style="margin-top:0.45pt;padding-left:35.45pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">508 West 26th Street </font></div><div style="margin-top:0.6pt;padding-left:35.2pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Suite 6G </font></div><div style="margin-top:0.45pt;padding-left:35.55pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">New York, NY 10001 </font></div><div style="margin-top:12.7pt;padding-left:35.55pt;padding-right:75.65pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9.5pt;font-weight:700;line-height:234%">Re&#58; Amended and Restated Agreement for Interim Management Services </font></div><div style="padding-right:75.65pt;text-indent:36pt"><font style="background-color:#ffffff;color:#000000;font-family:'Verdana',sans-serif;font-size:9.5pt;font-weight:400;line-height:133%">Dear Mr. Rishi&#58;</font><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9.5pt;font-weight:400;line-height:133%"> </font></div><div style="margin-top:12.55pt;padding-left:34.55pt;padding-right:36.9pt;text-indent:-0.1pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9.5pt;font-weight:400;line-height:117%">Latch, Inc. (the &#8220;Company&#8221;) and AP Services, LLC (&#8220;APS&#8221;) entered into an agreement dated January 3, 2023, as amended by Addendum 1 dated January 9, 2023, to provide interim management services to the Company at the election of the Board of Directors of the Company (the &#8220;Board&#8221;) (as amended, the &#8220;Initial Agreement&#8221;). The Company and APS have agreed to amend and restate the Initial Agreement as set forth herein. </font></div><div style="margin-top:12.55pt;padding-left:34.55pt;padding-right:36.9pt;text-indent:-0.1pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9.5pt;font-weight:400;line-height:117%">This letter (the &#8220;Agreement&#8221;) amends, restates and replaces, in its entirely, the Initial Agreement. For the avoidance of doubt, any fees and expenses due and owing under the Initial Agreement remain valid and payable and are governed by separate agreements&#59; provided, however, that the fees payable to APS based on hours spent by Jason Keyes and Marc Landy for Interim Management Services shall be payable in accordance with this Agreement. </font></div><div style="margin-top:12.55pt;padding-left:34.5pt;padding-right:33.25pt;text-indent:0.2pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9.5pt;font-weight:400;line-height:118%">All defined terms shall have the meanings ascribed to them in this Agreement and in the attached Schedule(s) and General Terms and Conditions. The Company and APS are each a &#8220;party,&#8221; and together the &#8220;parties.&#8221; </font></div><div style="margin-top:12.4pt;padding-left:35.45pt;padding-right:64.85pt;text-indent:-0.85pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9.5pt;font-weight:400;line-height:117%">The engagement of APS, including any APS employees who serve in Executive Officer positions, shall be under the supervision of the Board. </font></div><div style="margin-top:12.6pt;padding-left:35.05pt"><font style="background-color:#ffffff;color:#000000;font-family:'Verdana',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Objectives and Tasks</font><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%"> </font></div><div style="margin-top:12.6pt;padding-left:35.05pt;padding-right:25.75pt;text-indent:0.15pt"><font style="background-color:#ffffff;color:#000000;font-family:'Verdana',sans-serif;font-size:9.5pt;font-weight:400;line-height:118%">In the event the Board determines to engage an APS employee to serve in an Executive </font><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9.5pt;font-weight:400;line-height:118%"> </font><font style="background-color:#ffffff;color:#000000;font-family:'Verdana',sans-serif;font-size:9.5pt;font-weight:400;line-height:118%">Officer position, APS will provide Jason Keyes and Marc Landy to serve as the interim Chief </font><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9.5pt;font-weight:400;line-height:118%"> </font><font styl