SEC Contract Filing

Filing Date: 2023-08-23

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>6
<FILENAME>ea184125ex10-1_99acquisition.htm
<DESCRIPTION>LETTER AGREEMENT, DATED AUGUST 17, 2023, BY THE COMPANY'S OFFICERS AND DIRECTORS AND 99 ACQUISITION SPONSOR LLC
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">August 17, 2023</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">99 Acquisition Group Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">14 Noblewood Ct,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Gaithersburg, MD 20878</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Re: <U>Initial Public Offering</U></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This letter (this &ldquo;<B><I>Letter Agreement</I></B>&rdquo;) is
being delivered to you in accordance with the Underwriting Agreement (the &ldquo;<B><I>Underwriting Agreement</I></B>&rdquo;) entered
into by and between 99 Acquisition Group Inc., a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;), and EF Hutton, division
of Benchmark Investments, 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
Offering</I></B>&rdquo;), of 8,650,000 of the Company&rsquo;s units (including up to 1,125,000 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 Stock</I></B>&rdquo;), one right, and one redeemable warrant. Each right entitles the holder thereof
to receive one-fifth of a share of Common Stock upon consummation of the Company&rsquo;s initial business combination. Each warrant (a
&ldquo;<B><I>Warrant</I></B>&rdquo;) entitles the holder thereof to purchase one share of Common Stock at a price of $11.50 per share,
subject to adjustment. The Units will be sold in the Public Offering pursuant to a registration statement on Form S-1 (File No. 333-269923)
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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 99 Acquisition 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;), hereby agrees with the Company as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1. The Sponsor 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 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2. (a) The Sponsor hereby agrees that in the event that the Company
fails to consummate a Business Combination within nine months, the time period by which the Company must consummate a Business Combination
may be extended by an additional three months on two occasions (for a total of up to 15 months) (or, if the Office of the Delaware Division
of Corporations shall not be open for business (including filing of corporate documents) on such date the next date upon which the Office
of the Delaware Division of Corporations shall be open). For each extension, the Sponsor will deposit into the Trust Account, for each
additional three-month period, $750,000, or up to $862,500 if the Underwriters&rsquo; over-allotment option is exercised in full ($0.10
per share), on or prior to the date of the applicable deadline. Such extension payments would be made in the form of non-interest bearing
loans to the Company, which are due and payable on the consummation of the initial Business Combination out of the proceeds of the Trust
Account releas