SEC Contract Filing

Filing Date: 2021-01-25

Document Content:
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">January&nbsp;24, 2021 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">TS Innovation
Acquisitions Corp. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">45 Rockefeller Plaza </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, NY 10111
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attention: Paul A. Galiano </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email:
pgaliano@tishmanspeyer.com </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Latch, Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">508 West 26th
Street, Suite 6G </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, NY 10001 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attention: Priyen Patel
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: Priyen.patel@latch.com </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;Re:</P></TD>
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<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><U>Sponsor Agreement</U></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This
letter (this &#147;<B><I>Sponsor Agreement</I></B>&#148;) is being delivered to you in accordance with that certain Agreement and Plan of Merger, dated as of the date hereof (the &#147;<B><I>Merger Agreement</I></B>&#148;), by and among TS
Innovation Acquisitions Corp., a Delaware corporation (&#147;<B><I>TSIA</I></B>&#148;), Latch, Inc., a Delaware corporation (the &#147;<B><I>Company</I></B>&#148;), and Lionet Merger Sub Inc., a Delaware corporation (&#147;<B><I>Merger
Sub</I></B>&#148;), pursuant to which Merger Sub shall merge with and into the Company, with the Company surviving the merger (the &#147;<B>Merger</B>&#148;, and, together with the other transactions contemplated by the Merger Agreement, the
&#147;<B><I>Business Combination</I></B>&#148;). This Sponsor Agreement hereby amends and restates in its entirety that certain letter, dated November&nbsp;9, 2020, from TS Innovation Acquisitions Sponsor, L.L.C., a Delaware limited liability
company (the &#147;<B><I>Sponsor</I></B>&#148;), and the undersigned individuals, each of whom is a member of TSIA&#146;s board of directors and/or management team (each, an &#147;<B><I>Insider</I></B>&#148; and collectively, the
&#147;<B><I>Insiders</I></B>&#148;), to TSIA (the &#147;<B><I>Prior Letter Agreement</I></B>&#148;). Certain capitalized terms used herein are defined in paragraph 6 hereof. Capitalized terms used but not otherwise defined herein shall have the
respective meanings ascribed to such terms in the Merger Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Sponsor and certain Insiders are currently, and as of the Closing will be, the
record owners of all of the outstanding Founder Shares and outstanding Private Placement Warrants, with the Sponsor and Insider&#146;s ownership as of the date hereof detailed on <U>Schedule A</U> hereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In order to induce the Company and TSIA to enter into the Merger Agreement and for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the Sponsor and each Insider hereby agrees with TSIA and, at all times prior to any valid termination of the Merger Agreement, the Company as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1. The Sponsor and each Insider irrevocably agrees that it, he or she shall: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%" VALIGN="top" ALIGN="left">a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">vote any Common Stock and Founder Shares owned by it, him or her (all such common stock, the
&#147;<B><I>Covered Shares</I></B>&#148;) in favor of the Proposals and each other proposal related to the Business Combination included on the agenda for the Special Meeting; </P></TD></TR></TABLE>
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