Authentic Equity Acquisition Corp. 32 Elm Place, 2nd Floor Rye, NY 10580Letter Agreement • January 7th, 2022 • Authentic Equity Acquisition Corp. • Blank checks • New York
This letter (this “Letter Agreement”) is being delivered to you in connection with the appointment of the undersigned, Robert Ernst (the “Insider”), as a director of Authentic Equity Acquisition Corp., a Cayman Islands exempted company (the “Company”). The Insider acknowledges that the Company has consummated its initial public offering on January 20, 2021 (the “Public Offering”) of 23,000,000 units (including 3,000,000 units purchased pursuant to the Underwriters’ option to purchase additional units, the “Units”), each comprised of one Class A ordinary share, par value $0.0001 per share (the “Ordinary Shares”), of the Company and one-half of one redeemable warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Ordinary Share at a price of $11.50 per share, subject to adjustment. Certain capitalized terms used herein are defined in paragraph 1 hereof.
