Magna Management LLC [address]
Exhibit 10.7
Magna Management LLC
[address]
____________, 2016
M I Acquisitions, Inc.
c/o Magna Management LLC
0 Xxxxxxx Xxxxxx
New York, NY 10004
Ladies and Gentlemen:
This letter will confirm
our agreement that commencing on the effective date (the “Effective Date”) of the registration statement (the “Registration
Statement”) relating to the initial public offering of the securities of M I Acquisitions, Inc. (the “Company”)
and continuing until the consummation by the Company of its initial business combination or the distribution of the trust
account to the Company’s then public shareholders (as described in the Registration Statement), Magna Management LLC (the
“Firm”) shall make available to the Company certain general and administrative services, including the use of office
space, utilities and secretarial support, as may be required by the Company from time to time, at [___________________] (or any
successor location). In exchange therefor, the Company shall pay the Firm at the rate of $10,000 per month. Notwithstanding the
foregoing, if the Company’s audit committee determines that the Company lacks sufficient funds outside of the trust account
to pay its actual or anticipated expenses, all payments hereunder shall be deferred until the consummation of its initial business
combination. Any such deferred amount shall accrue without interest and be due and payable no later than the date of the consummation
of our initial business combination.
Very truly yours, | ||
MAGNA MANAGEMENT LLC | ||
By: | ||
Name: | ||
Title: |
Agreed to and Accepted as of the date first written above by: |
||
M I ACQUISITIONS, INC. | ||
By: | ||
Name: | ||
Title: |