SEC Contract Filing

Filing Date: 2021-08-16

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>cvii-20210630xex10d1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 9.11.0.85--><!--Created on: 8/16/2021 09:23:51 AM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">Exhibit 10.1</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">INDEMNITY AGREEMENT</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">THIS INDEMNITY AGREEMENT</b><font style="font-size:12pt;"> (this &#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Agreement</u><font style="font-size:12pt;">&#8221;) is made as of May 11, 2021, by and between Churchill Capital Corp VII, a Delaware corporation (the &#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Company</u><font style="font-size:12pt;">&#8221;), and Andrew Frankle (&#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Indemnitee</u><font style="font-size:12pt;">&#8221;).</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">RECITALS</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">WHEREAS</b><font style="font-size:12pt;">, the Board of Directors of the Company (the &#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Board</u><font style="font-size:12pt;">&#8221;) has determined that it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, hold harmless, exonerate and to advance expenses on behalf of, persons who serve the Company and its direct and indirect subsidiaries (collectively, the &#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Company Group</u><font style="font-size:12pt;">&#8221;) to the fullest extent permitted by applicable law;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">WHEREAS</b><font style="font-size:12pt;">, this Agreement is a supplement to and in furtherance of the Amended and Restated Certificate of Incorporation (the &#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Charter</u><font style="font-size:12pt;">&#8221;) and the Bylaws (the &#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Bylaws</u><font style="font-size:12pt;">&#8221;) of the Company and any resolutions adopted pursuant thereto, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">WHEREAS</b><font style="font-size:12pt;white-space:pre-wrap;">, Indemnitee may not be willing to serve as an officer or director, advisor or in another capacity without adequate protection, and the Company desires Indemnitee to serve in such capacity. Indemnitee is willing to serve, continue to serve and to take on additional service for or on behalf of the Company on the condition that Indemnitee be so indemnified; and</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">NOW, THEREFORE</b><font style="font-size:12pt;">, in consideration of the premises and the covenants contained herein and subject to the provisions of the letter agreements dated as of May 11, 2021, the Company and Indemnitee do hereby covenant and agree as follows:</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">TERMS AND CONDITIONS</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-indent:0pt;width:18pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:left;">1.</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">SERVICES TO THE COMPANY</u><font style="font-size:12pt;white-space:pre-wrap;">. In consideration of the Company&#8217;s covenants and obligations hereunder, Indemnitee will serve or continue to serve as an officer, director, advisor, key employee or any other capacity of any member of the Company Group, as applicable, for so long as Indemnitee is duly elected or appointed or retained or until Indemnitee tenders Indemnitee&#8217;s resignation or until Indemnitee is removed. The foregoing notwithstanding, this Agreement shall continue in full force and effect after Indemnitee has ceased to serve as a director, o