SEC Contract Filing

Filing Date: 2021-03-19

Document Content:
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<TYPE>EX-10.10
<SEQUENCE>14
<FILENAME>d149684dex1010.htm
<DESCRIPTION>EX-10.10
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<TITLE>EX-10.10</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.10 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>INDEMNITY AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">March&nbsp;16, 2021 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>THIS INDEMNITY
AGREEMENT</B>&nbsp;(this &#147;<B><I>Agreement</I></B>&#148;) is made as of March&nbsp;16, 2021, by and between Build Acquisition Corp., a Delaware corporation (the &#147;<B><I>Company</I></B>&#148;), and Noam Ohana
(&#147;<B><I>Indemnitee</I></B>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>RECITALS </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, highly competent persons have become more reluctant to serve publicly-held corporations as directors, officers or in other capacities unless
they are provided with adequate protection through insurance or adequate indemnification against inordinate risks of claims and actions against them arising out of their service to and activities on behalf of such corporations; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the board of directors of the Company (the &#147;<B><I>Board</I></B>&#148;) has determined that, in order to attract and retain qualified
individuals, the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons serving the Company and any of its subsidiaries from certain liabilities. Although the furnishing of such insurance
has been a customary and widespread practice among United States-based publicly-traded corporations and other business enterprises, the Company believes that, given current market conditions and trends, such insurance may be available to it in the
future only at higher premiums and with more exclusions. At the same time, directors, officers and other persons in service to corporations or business enterprises are being increasingly subjected to expensive and time-consuming litigation relating
to, among other things, matters that traditionally would have been brought only against the Company or business enterprise itself. The Amended and Restated Certificate of Incorporation (the &#147;<B><I>Charter</I></B>&#148;) and the Bylaws of the
Company (the &#147;<B><I>Bylaws</I></B>&#148;) require indemnification of the officers and directors of the Company. Indemnitee may also be entitled to indemnification pursuant to applicable provisions of the Delaware General Corporation Law
(&#147;<B><I>DGCL</I></B>&#148;). The Charter, the Bylaws and the DGCL expressly provide that the indemnification provisions set forth therein are not exclusive, and thereby contemplate that contracts may be entered into between the Company and
members of the Board, officers and other persons with respect to indemnification, hold harmless, exoneration, advancement and reimbursement rights; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the uncertainties relating to such insurance and to indemnification have increased the difficulty of attracting and retaining such persons;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests of
the Company&#146;s stockholders and that the Company should act to assure such persons that there will be increased certainty of such protection in the future; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, 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, such persons to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern that they will not be so protected against liabilities; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, this Agreement is a supplement to and in furtherance of the Charter and the Bylaws 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; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, 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 </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOW</B>,<B>&nbsp;THEREFORE</B>, in consideration of the premises and the covenants contained herein and
subject to the provisions of the letter agreement dated as of the date hereof the Company, Indemnitee and the other parties thereto pursuant