Item 1.01 Entry into a Material Definitive Agreement.
On November 30, 2020, East Resources Acquisition Company, a Delaware corporation
(the "Company") entered into (i) that certain business services agreement with
JKLM Energy, LLC, a Delaware limited liability company ("JKLM"), an affiliate of
East Sponsor, LLC, a Delaware limited liability company and the Company's
sponsor ("East Sponsor") and (ii) that certain business services agreement with
East Management Services, LP, a Delaware limited partnership ("EMS"), and an
affiliate of East Sponsor, each effective as of July 24, 2020 (such agreements,
the "Business Services Agreements").
Pursuant to the Business Services Agreements, JKLM and EMS each shall
cover certain expenses of the Company, including by providing office space,
utilities, secretarial support, administrative services, salaries, wages,
benefits and other personnel-related costs, as may be reasonably required by the
Company to identify, investigate and complete an initial business combination.
In exchange therefor, the Company shall reimburse each of JKLM and EMS for such
expenses, in each case, in an aggregate amount not to exceed $10,000 per month
(each an "Expense Reimbursement Cap"), beginning on July 24, 2020 and continuing
monthly thereafter until the earlier of the consummation by the Company of an
initial business combination or the Company's liquidation (the "Termination
Date"). Additionally, the Company shall reimburse each of JKLM and EMS for (i)
all out-of-pocket expenses related to the Company's formation and initial public
offering and (ii) certain other expenses related to the Company's
identification, investigation, or completion of an initial business combination.
To the extent the actual amounts of any such monthly expenses of JKLM or EMS
exceed the Expense Reimbursement Cap, the Company shall reimburse JKLM or EMS,
as applicable, for such overages following the Termination Date.
The full text of each of the Business Services Agreements, attached hereto as
Exhibit 10.1 and Exhibit 10.2, respectively, are incorporated herein by
reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description of Exhibits
10.1 Business Services Agreement, by and between East Resources
Acquisition Company and JKLM Energy, LLC, dated as of November 30,
2020.
10.2 Business Services Agreement, by and between East Resources
Acquisition Company and East Management Services, LP, dated as of
November 30, 2020.
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