SEC Contract Filing

Filing Date: 2022-08-01

Document Content:
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<TYPE>EX-10.3
<SEQUENCE>6
<FILENAME>tm2222213d1_ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
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<P STYLE="text-align: right; margin: 0"><B>&nbsp;</B></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">July&nbsp;29, 2022</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">Galata Acquisition Corp.<BR>
2001 S Street NW, Suite&nbsp;320&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Washington, DC 20009&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attention: Kemal Kaya, Chief Executive Officer</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">Reference is made to that certain Business Combination Agreement (the
 &ldquo;<B><I>BCA</I></B>&rdquo;), to be dated as of the date hereof, by and among Marti Technologies,&nbsp;Inc., a Delaware corporation
(the &ldquo;<B><I>Company</I></B>&rdquo;), Galata Acquisition Corp., a Cayman Islands exempted company (&ldquo;<B><I>SPAC</I></B>&rdquo;),
and Galata Merger Sub,&nbsp;Inc., a Delaware corporation and a direct, wholly owned subsidiary of SPAC. This letter agreement (this &ldquo;<B><I>Letter
Agreement</I></B>&rdquo;) is being entered into and delivered by SPAC, the Company, Galata Acquisition Sponsor, LLC, a Delaware limited
liability company (the &ldquo;<B><I>Sponsor</I></B>&rdquo;), and Gala Investments LLC, a Delaware limited liability company (together
with Sponsor, the &ldquo;<B><I>Founder Shareholders</I></B>&rdquo;), in connection with the transactions contemplated by the BCA. Capitalized
terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the BCA.</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 consideration of the foregoing and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, SPAC, the Company and each Founder Shareholder hereby agree as follows:</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD>Each Founder Shareholder represents and warrants that such Founder Shareholder holds the number of Founders Shares set forth opposite
such Founder Shareholder&rsquo;s name on <U>Exhibit&nbsp;A</U> under the heading &ldquo;Total Shares,&rdquo; which shares collectively
constitute all of the issued and outstanding Founder Shares as of the date hereof. As of the date hereof, there are 3,593,750 Founder
Shares issued and outstanding. As used herein, &ldquo;<B><I>Founder Shares</I></B>&rdquo; means Class&nbsp;B ordinary shares, par value
$0.0001 per share, of SPAC.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD>During the period commencing on the date hereof and ending on the earlier of the Closing and the valid termination of the BCA pursuant
to Article&nbsp;IX thereof, each Founder Shareholder agrees not to (a)&nbsp;sell, offer to sell, contract or agree to sell, hypothecate,
pledge, grant any option to purchase, dispose of or otherwise transfer or agree to transfer, directly or indirectly, file (or participate
in the filing of) a registration statement with the SEC (other than the Registration Statement or the Proxy Statement) or establish or
increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section&nbsp;16 of the Exchange
Act and the rules&nbsp;and regulations of the SEC promulgated thereunder, with respect to any Founder Shares held by such Founder Shareholder,
(b)&nbsp;deposit any Founder Shares held by such Founder Shareholder into a voting trust or enter into a voting agreement or any similar
agreement, arrangement or understanding with respect to the Founder Shares or grant any proxy (except as otherwise provided herein), consent
or power of attorney with respect thereto (other than pursuant to this Letter Agreement), (c)&nbsp;enter into any swap or other arrangement
that transfers to another, in whole or in part, any of the economic consequences of ownership of any Founder Shares held by such Founder
Shareholder, or (d)&nbsp;publicly announce any intention to effect any transaction specified in clauses (a), (b)&nbsp;or (c); <I>provided</I>,
that each Founder Shareholder may transfer Founder Shares as contemplated by clauses (i)&nbsp;through (v)&nbsp;of Section&nbsp;4(d)&nbsp;of
the Prior Letter Agreement (as defined below), if and only if, the transferee of such Founder Shares evidences in writing reasonably satisfactory
to SPAC such transferee&rsquo;s agreement to be bound by and subject to the terms and provisions hereof to the same effect as such Founder
Shareholder.</TD></TR></TABLE>

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