EX-10.6 10 ea182296ex10-6_keenvision.htm ADMINISTRATIVE SERVICES AGREEMENT, DATED JULY 24, 2023, BY AND BETWEEN THE COMPANY AND KVC SPONSOR LLC

Exhibit 10.6

 

Administrative Services Agreement

 

This Administrative Services Agreement (the “Agreement”) dated this 24th day of July, 2023 is between KVC Sponsor LLC, herein referred to as “Service Provider” and Keen Vision Acquisition Corporation, herein referred to as “Customer”.

 

Service Provider has agreed to provide services to the Customer on the terms and conditions set out in this Agreement, while Customer is of the opinion that Service Provider has the proper and necessary qualifications, experience and abilities to provide services to Customer.

 

Therefore in consideration of the matters described above, the receipt and sufficiency of which consideration is hereby acknowledged, the Customer and the Service Provider agree as follows:

 

1. Scope of Work

 

The Service Provider is to provide the Customer with the following services (the “Services”): general and administrative services, including office space, administrative and support services, as may be reasonably required by the Company.

 

The services will include any other tasks which the Customer and the Service Provider may agree on.

 

2. Term of Agreement

 

This Agreement will begin on July 24, 2023 and will remain in full force and effect until the earlier of the consummation by the Company of an initial business combination or the Company’s liquidation (in each case as described in the Registration Statement for the Company’s initial public offering) unless terminated earlier pursuant to the terms hereof. This Agreement may be extended by mutual written agreement of the parties.

 

3. Trust Waiver

 

KVC Sponsor LLC hereby agrees that it does not have any right, title, interest or claim of any kind in or to any monies that may be set aside in a trust account (the “Trust Account”) that may be established upon the consummation of the IPO and will not seek recourse against the Trust Account for any reason whatsoever.

 

4. Termination

 

If either party seeks termination of this Agreement, the terminating party must provide a 30 days written notice to the other party.

 

5. Compensation

 

The Customer will provide compensation to the Service Provider of $10,000 per month commencing on the closing date of the initial public offering of the Customer for 9 months (or up to 15 months if the Customer extends the period of time it has to consummate an initial business combination) for the services rendered by the Service Provider as required by this Agreement. Compensation is payable at the completion of services.

 

 

 

IN WITNESS WHEREOF the parties have duly affixed their signatures under hand on this 24th day of July, 2023.

 

  KVC Sponsor LLC

 

  By: /s/ WONG, Kenneth K.C.
  Name:  WONG, Kenneth K.C.
  Title: Manager
     
  Keen Vision Acquisition Corporation

 

  By: /s/ WONG, Kenneth K.C.
  Name:  WONG, Kenneth K.C.
  Title: Chief Executive Officer

 

Signature Page to Administrative Services Agreement