SEC Contract Filing

Filing Date: 2021-06-21

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>7
<FILENAME>tm218925d13_ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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 <P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: right; margin: 0pt"><B>Exhibit 10.3</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">June 15, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Zimmer Energy Transition Acquisition Corp.<BR>
9 West 57<SUP>th</SUP> Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">33<SUP>rd</SUP> Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, NY 10019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(212) 710-2347</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">Re: <U>Initial Public Offering</U></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This letter (this &#8220;<U>Letter
Agreement</U>&#8221;) is being delivered to you in accordance with the Underwriting Agreement (the &#8220;<U>Underwriting
Agreement</U>&#8221;) to be entered into by and among Zimmer Energy Transition Acquisition Corp., a Delaware corporation (the
 &#8220;<U>Company</U>&#8221;), on the one hand, and Citigroup Global Markets Inc. and Barclays Capital Inc., as representatives (the
 &#8220;<U>Representatives</U>&#8221;) of the several underwriters (the &#8220;<U>Underwriters</U>&#8221;), on the other hand,
relating to an underwritten initial public offering (the &#8220;<U>Public Offering</U>&#8221;) of up to 34,500,000 of the
Company&#8217;s units (including up to 4,500,000 units that may be purchased to cover over-allotments, if any) (the
 &#8220;<U>Units</U>&#8221;), each comprised of one share of the Company&#8217;s Class A common stock, par value $0.0001 per share
(the &#8220;<U>Common Stock</U>&#8221;) and one-third of one redeemable warrant (each, a &#8220;<U>Warrant</U>&#8221;). Each whole
Warrant 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 and prospectus (the
 &#8220;<U>Prospectus</U>&#8221;) filed by the Company with the U.S. Securities and Exchange Commission (the
 &#8220;<U>Commission</U>&#8221;), 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>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">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 ZETA Sponsor LLC (the &#8220;<U>Sponsor</U>&#8221;) and the undersigned individuals,
each of whom is a member of the Company&#8217;s board of directors, or a member of the Company&#8217;s management team (each, an &#8220;<U>Insider</U>&#8221;
and collectively, the &#8220;<U>Insiders</U>&#8221;), hereby severally (and not jointly and severally) agrees with the Company as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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 Capital Stock owned by it, him or her in connection with
such stockholder approval. If the Company seeks to consummate a proposed Business Combination by engaging in a tender offer, the Sponsor
and each Insider agrees that it, he or she will not sell or tender any shares of Capital Stock owned by it, him or her in connection
therewith.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Sponsor and each Insider hereby agrees that in the event that the Company fails to consummate a Business Combination within
24 months from the closing of the Public Offering, or such later period approved by the Company&#8217;s stockholders in accordance with
the Company&#8217;s amended and restated certificate of incorporation (the &#8220;<U>Charter</U>&#8221;), 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 100% of the
Common Stock sold as part of the Units in the Public Offering (the &#8220;<U>Offering Shares</U>