SEC Contract Filing

Filing Date: 2021-11-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>10
<FILENAME>ex10_1.htm
<DESCRIPTION>LETTER AGREEMENT, DATED OCTOBER 26, 2021, BY AND AMONG THE COMPANY, ITS OFFICERS, ITS DIRECTORS, BRIGHT VISION SPONSOR LLC AND I-BANKERS SECURITIES, INC
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">October 26, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deep Medicine Acquisition Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">595 Madison Avenue, 12th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">New York, NY 10017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
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 <TD STYLE="width: 6%; font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Re:</FONT></TD>
 <TD STYLE="width: 94%; font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Initial Public Offering</U></FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">This letter (this &ldquo;<B><I>Letter</I></B>&nbsp;<B><I>Agreement</I></B>&rdquo;)
is being delivered to you in accordance with the Underwriting Agreement (the &ldquo;<B><I>Underwriting&nbsp;Agreement</I></B>&rdquo;)
entered into by and among Deep Medicine Acquisition Corp., a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;), and I-Bankers
Securities, Inc., as representative (the &ldquo;<B><I>Representative</I></B>&rdquo;) of the several underwriters (each, an &ldquo;<B><I>Underwriter</I></B>&rdquo;
and collectively, the &ldquo;<B><I>Underwriters</I></B>&rdquo;), relating to an underwritten initial public offering (the &ldquo;<B><I>Public</I></B>&nbsp;<B><I>Offering</I></B>&rdquo;),
of 12,650,000 of the Company&rsquo;s units (including up to 1,650,000 units that may be purchased to cover over-allotments, if any) (the
&ldquo;<B><I>Units</I></B>&rdquo;), each comprised of one share of the Company&rsquo;s Class A common stock, par value $0.0001 per share
(the &ldquo;<B><I>Common</I></B>&nbsp;<B><I>Stock</I></B>&rdquo;), and one right. Each right (a &ldquo;<B><I>Right</I></B>&rdquo;) entitles
the holder thereof to receive one-tenth (1/10) of one share of Common Stock. The Units will be sold in the Public Offering pursuant to
a registration statements on Form S-1 (File Nos. 333-259500 and 333-260515) and prospectus (the &ldquo;<B><I>Prospectus</I></B>&rdquo;)
filed by the Company with the U.S. Securities and Exchange Commission (the &ldquo;<B><I>Commission</I></B>&rdquo;) and the Company has
applied to have the Units listed on The Nasdaq Global Market. Certain capitalized terms used herein are defined in paragraph 11 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">In order to induce the Company and the Underwriters to enter into the Underwriting
Agreement and to proceed with the Public Offering and for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, each of Bright Vision Sponsor LLC (the &ldquo;<B><I>Sponsor</I></B>&rdquo;), and the undersigned individuals,
each of whom is a member of the Company&rsquo;s board of directors and/or management team or an advisor of the Company (each, an &ldquo;<B><I>Insider</I></B>&rdquo;
and collectively, the &ldquo;<B><I>Insiders</I></B>&rdquo;) and Representative, hereby agrees with the Company as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">1. The Sponsor, Representative and each Insider agrees
that if the Company seeks stockholder approval of a proposed Business Combination, then in connection with such proposed Business Combination,
it, he or she shall (i) vote any shares of Capital Stock owned by it, him or her in favor of any proposed Business Combination and (ii)
not redeem any shares of Common Stock owned by it, him or her in connection with such stockholder approval. If the Company engages in
a tender offer in connection with any proposed Business Combination, the Sponsor, Representative and each Insider agrees that it, he or
she will not seek to sell its, his or her shares of Capital Stock to the Company in connection with such tender offer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">2. (a) The Sponsor, and each Insider hereby agrees
that in the event that the Company fails to consummate a Business Combination within the timeframe set forth in the Company&rsquo;s second
amended and restated certificate of incorporation, as it may be amended from time to time (the &ldquo;<B><I>Charter</I></B>&rdquo;) and
Section 2(a) herein, the Sponsor, and each Insider shall take all reasonable steps to cause the Company to (i) cease all operations except
for the purpose of winding up, (ii) as promptly as reasonably possible but not more than 10 business days thereafter, subject to lawfully
available funds therefor, redeem 10