Exhibit 10.1


 


AMENDMENT

TO THE

INVESTMENT MANAGEMENT TRUST AGREEMENT


 


This Amendment No. 4 (this “Amendment”),
dated as of December 1, 2020, to the Investment Management Trust Agreement (as defined below) is made by and between Trident Acquisitions
Corp. (the “Company”) and Continental Stock Transfer & Trust Company, as trustee (“Trustee”).
All terms used but not defined herein shall have the meanings assigned to them in the Trust Agreement.


 


WHEREAS, the Company and the Trustee entered
into an Investment Management Trust Agreement dated as of May 29, 2018, as amended pursuant to that certain Amendment No. 1 to
the Trust Agreement dated as of November 27, 2019, that certain Amendment No. 2 to the Trust Agreement dated as of May 29, 2020
and that certain Amendment No. 3 to the Trust Agreement dated August 31, 2020 (as amended, the “Trust Agreement”);


 


WHEREAS, Section 1(i) of the Trust Agreement
sets forth the terms that govern the liquidation of the Trust Account under the circumstances described therein;


 


WHEREAS, at an annual meeting of stockholders
of the Company held on November 30, 2020 (the “Annual Meeting”), the Company’s stockholders approved (i)
a proposal to amend (the “Charter Amendment”) the Company’s amended and restated certificate of incorporation,
as amended, to provide that the date by which the Company shall be required to effect a Business Combination to be extended for
an additional three months, with an ability to further extend for an additional three months if approved by the Company’s
board of directors and (ii) a proposal to extend the date on which to commence liquidating the Trust Account in the event the Company
has not consummated a business combination; and


 


WHEREAS, on the date hereof, the Company
is filing the Charter Amendment with the Secretary of State of the State of Delaware.


 


NOW THEREFORE, IT IS AGREED:


 


1. Section 1(i) of the Trust Agreement
is hereby amended and restated to read in full as follows:


 


“(i) Commence liquidation
of the Trust Account only after and promptly after receipt of, and only in accordance with, the terms of a letter (“Termination
Letter”), in a form substantially similar to that attached hereto as either Exhibit A or Exhibit B, signed on behalf
of the Company by its President, Chief Executive Officer or Chairman of the Board and Secretary or Assistant Secretary, and complete
the liquidation of the Trust Account and distribute the Property in the Trust Account only as directed in the Termination Letter
and the other documents referred to therein; provided, however, that in the event that a Termination Letter has not been received
by the Trustee by the 30-month anniversary of the closing of the IPO (“Closing”), or (X) in the event that the
Company extended the time to complete the Business Combination for an additional 3-month period by, for each month of the extension
and if the daily volume weighted average price of the Company’s common stock for any 10 consecutive trading days in the prior
month is below $11.41 per share, as determined two (2) trading days prior to the last day of such month, depositing $0.05 for each
public share of common stock that has not redeemed, for up to 33-months from the closing of the IPO, or (Y) further extended the
time to complete the Business Combination by approval of the Company’s Board of Directors for an additional 3-month period
by, for each month of the further extension and if the daily volume weighted average price of the Company’s common stock
for any 10 consecutive trading days in the prior month is below $11.41 per share, as determined two (2) trading days prior to the
last day of such month, depositing $0.05 for each public share of common stock that has not redeemed, for up to 36-months from
the closing of the IPO, but has not completed the Business Combination within the applicable monthly anniversary of the Closing
(“Last Date”), the Trust Account shall be liquidated in accordance with the procedures set forth in the Termination
Letter attached as Exhibit B hereto and distributed to the Public Shareholders as of the Last Date.”


 


2. All other provisions of the Trust Agreement
shall remain unaffected by the terms hereof.


 


3. This Amendment may be signed in any
number of counterparts, each of which shall be an original and all of which shall be deemed to be one and the same instrument,
with the same effect as if the signatures thereto and hereto were upon the same instrument. A facsimile signature shall be deemed
to be an original signature for purposes of this Amendment.


 


4. This Amendment is intended to be in
full compliance with the requirements for an Amendment to the Trust Agreement as required by Section 7(c) of the Trust Agreement,
and every defect in fulfilling such requirements for an effective amendment to the Trust Agreement is hereby ratified, intentionally
waived and relinquished by all parties hereto.


 


5. This Amendment shall be governed by
and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflicts of law principles
that would result in the application of the substantive laws of another jurisdiction.


 




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IN WITNESS WHEREOF, the parties have duly
executed this 4th Amendment to the Investment Management Trust Agreement as of the date first written above.


 


CONTINENTAL STOCK TRANSFER & TRUST
COMPANY, AS TRUSTEE


 


	By:	/s/ Francis Wolf	 
	Name: 	Francis Wolf	 
	Title:	Vice President	 


 


TRIDENT ACQUISITIONS CORP.


 


	By:	/s/ Vadim Komissarov	 
	Name: 	Vadim Komissarov 	 
	Title:	Chief Executive Officer	 


 


 


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