Exhibit 10.5


 


SUPPORT AGREEMENT


 


This SUPPORT AGREEMENT (this “Agreement”),
dated as of [●], 2020, is entered into by and between Forum Merger III Corporation, a Delaware corporation (“Parent”),
and the undersigned stockholder (the “Stockholder” and, together with Parent, each a “Party”
and collectively, the “Parties”) of Electric Last Mile, Inc., a Delaware corporation (the “Company”).
Capitalized terms used herein and not otherwise defined shall have the meaning ascribed to them in the Agreement and Plan of Merger,
dated as of December 10, 2020 (as amended, supplemented or otherwise modified from time to time, the “Merger Agreement”),
by and among the Company, Parent, ELMS Merger Corp., a Delaware corporation (“Merger Sub”) and Jason
Luo, in the capacity as the initial Stockholder Representative thereto in accordance with the terms and conditions of the Merger
Agreement.


 


RECITALS


 


WHEREAS, as of the
date of this Agreement, the Stockholder is the record holder and the beneficial (as such term is defined in Rule 13d-3 under the
Exchange Act, which meaning shall apply for all purposes of this Agreement whenever the term “beneficial” or “beneficially”
is used) owner of, and has full voting power over, the number of shares of common stock, par value $0.0001 per share (the “Shares”),
of the Company set forth on the Stockholder’s signature page hereto;


 


WHEREAS, the Company,
Parent and Merger Sub have entered into the Merger Agreement, which provides for the merger of Merger Sub with and into the Company
(the “Merger”), with the Company surviving the Merger, pursuant to the provisions of the DGCL;


 


WHEREAS, the Stockholder
acknowledges that, as a condition and material inducement to Parent and Merger Sub’s willingness to enter into the Merger
Agreement, Parent has required that (i) certain stockholders specified in the Merger Agreement, promptly after the execution and
delivery of the Merger Agreement and in any event within twenty-four (24) hours and (ii) prior to the Closing, the holders of 100%
of the issued and outstanding Shares enter into Support Agreements, including written consents in the form attached hereto as Annex
A (each, a “Written Consent”), and, in order to induce Parent and Merger Sub to enter into the
Merger Agreement and consummate the Merger and the other transactions contemplated by the Merger Agreement, the Stockholder is
willing to enter into this Agreement;


 


WHEREAS, Parent desires
that the Stockholder agree, and the Stockholder is willing to agree, subject to the limitations herein, not to Transfer (as defined
below) any of its Shares, and to enter into the Written Consent and otherwise vote its Shares in a manner so as to facilitate consummation
of the Merger and the other transactions contemplated by the Merger Agreement, and to undertake certain additional obligations
pursuant to this Agreement;


 






    


     


    

  







WHEREAS, concurrently
with the execution and delivery of this Agreement, the Stockholder is executing and delivering a Written Consent, constituting
the Stockholder’s consent to, and vote to adopt, the Merger Agreement;


 


WHEREAS, concurrently
with the execution and delivery of this Agreement, the Stockholder is executing and delivering the Amended and Restated Registration
Rights Agreement in the form attached hereto as Annex B; and


 


WHEREAS, Parent and
the Stockholder desire to make certain representations, warranties, covenants and agreements in connection with this Agreement.


 


NOW, THEREFORE, in
consideration of the foregoing premises and the representations, warranties, covenants and agreements set forth in this Agreement,
the Parties agree as follows:


 


Article
1



VOTING AND TRANSFER OF SHARES


 


Section 1.01.Voting.


 


(a)       The
Stockholder irrevocably and unconditionally agrees, during the period beginning on the date of this Agreement and ending on the
Expiration Date (the “Applicable Period”), at each meeting of the stockholders of the Company (a “Meeting”)
and at each adjournment or postponement thereof, and in connection with each action or approval by consent in writing of the stockholders
of the Company (a “Consent Solicitation”), to cause to be present in person or represented by proxy and
to vote or cause to be voted (or express consent or dissent in writing, as applicable) that number of Shares set forth on the Stockholder’s
signature page hereto and any additional Shares that are hereafter held of record or beneficially owned by the Stockholder (collectively,
the “Subject Shares”) that are entitled to vote (or express consent or dissent in writing, as applicable),
in each case as follows:


 


(i)       in
favor of any proposal for stockholders of the Company to adopt the Merger Agreement and approve any other matters necessary for
consummation of the transactions contemplated by the Merger Agreement, including the Merger;


 


(ii)       in
favor of any proposal to adjourn a Meeting at which there is a proposal for stockholders of the Company to adopt the Merger Agreement
to a later date if there are not sufficient votes to adopt the Merger Agreement or if there are not sufficient Shares present in
person or represented by proxy at such Meeting to constitute a quorum;


 


(iii)       against
any proposal providing for an Alternative Transaction or the adoption of an agreement to enter into an Alternative Transaction;


 






    2


     


    

 


(iv)       against
any proposal for any amendment or modification of the Company’s Organizational Documents that would change the voting rights
of any Shares or the number of votes required to approval any proposal, including the vote required to adopt the Merger Agreement;
and


 


(v)       against
any action, transaction or agreement that (A) would result in a breach of any representation or warranty or covenant of the Company
under the Merger Agreement; (B) would reasonably be expected to prevent, delay or impair consummation of the Transactions in any
material respect; or (C) result in any of the conditions set forth in Article VI of the Merger Agreement not being fulfilled.


 


(b)       Any
vote required to be cast or consent or dissent in writing required to be expressed pursuant to this Section 1.01 shall be
cast or expressed in accordance with the applicable procedures relating thereto so as to ensure that it is duly counted for purposes
of determining that a quorum is present (if applicable) and for purposes of recording the results of that vote or Consent Solicitation.
For the avoidance of doubt, nothing contained herein requires the Stockholder (or entitles any proxy of the Stockholder) to convert,
exercise or exchange any options, warrants or convertible securities in order to obtain any underlying Shares.


 


(c)       The
Stockholder agrees not to enter into any commitment, agreement, understanding or similar arrangement with any Person to vote or
give voting instructions or express consent or dissent in writing in any manner inconsistent with the terms of this Section
1.01.


 


Section 1.02.No
Transfers. During the Applicable Period, the Stockholder shall not, directly or indirectly: (a) sell, convey, assign, transfer
(including by succession or otherwise by operation of Law), exchange, pledge, hypothecate or otherwise encumber or dispose of any
Subject Shares (or any right, title or interest therein) or any rights to acquire any securities or equity interests of the Company;
(b) deposit any Subject Shares or any rights to acquire any securities or equity interests of the Company into a voting trust or
enter into a voting agreement or any other arrangement with respect to any Subject Shares or any rights to acquire any securities
or equity interests of the Company or grant or purport to grant any proxy or power of attorney with respect thereto; (c) enter
into any contract, option, call or other arrangement or undertaking, whether or not in writing, with respect to the sale, conveyance,
assignment, transfer (including by succession or otherwise by operation of Law), exchange, pledge, hypothecation or other encumbrance
or disposition, or limitation on the voting rights, of any Subject Shares (or any right, title or interest therein) or any rights
to acquire any securities or equity interests of the Company; (d) otherwise grant, permit or suffer the creation of any Liens on
any Subject Shares (other than applicable restrictions on transfer under U.S. state or federal securities or “blue sky”
Laws) or (e) commit or agree to take any of the foregoing actions (any action described in clauses (a), (b), (c), (d) and (e),
a “Transfer”); provided, however, that the foregoing shall not prohibit Transfers (i) between
the Stockholder and any Affiliate of the Stockholder, (ii) to a trust for the benefit of the Stockholder or to any member of a
Stockholder’s immediate family or a trust for the benefit of such immediate family member or (iii) by will, other testamentary
document or under the laws of intestacy upon the death of Stockholder, in each case, so long as, prior to and as a condition to
the effectiveness of any such Transfer, such Affiliate or transferee executes and delivers to Parent a joinder to this Agreement
in the form attached hereto as Annex C. Any Transfer or action in violation of this Section 1.02 shall be
void ab initio. If any involuntary Transfer of any of Subject Shares occurs, the transferee (and all transferees and subsequent
transferees of such transferee) shall take and hold such Subject Shares subject to all of the restrictions, liabilities and rights
under this Agreement, which shall continue in full force and effect during the Applicable Period. For the avoidance of doubt, nothing
in this Section 1.02 shall prevent entry into or performance of any obligations pursuant to the Amended and Restated Registration
Rights Agreement.


 






    3


     


    

 


Section 1.03.Stop
Transfer. The Stockholder shall not request that the Company register any transfer of any Certificate or other uncertificated
interest representing any Subject Shares made in violation of the restrictions set forth in Section 1.02 during the Applicable
Period.


 


Section 1.04.Waiver
of Appraisal Rights. The Stockholder hereby agrees not to assert, exercise or perfect, directly or indirectly, and irrevocably
and unconditionally waives, any appraisal rights (including under Section 262 of the DGCL) with respect to the Merger and any rights
to dissent with respect to the Merger (collectively, “Appraisal Rights”).


 


Section 1.05.Public
Announcements; Filings; Disclosures.


 


(a)       The
Stockholder (and the Stockholder’s controlled Affiliates) shall not issue any press release or make any other public announcement
or public statement (a “Public Communication”) with respect to this Agreement, the Merger Agreement,
or the transactions contemplated by this Agreement or the Merger Agreement, without the prior written consent of Parent (which
consent may be withheld in Parent’s sole discretion), except (i) as required by applicable Law or court process, in which
case the Stockholder shall use its reasonable best efforts to provide Parent and Parent’s legal counsel with a reasonable
opportunity to review and comment on such Public Communication in advance of its issuance and shall give reasonable and good faith
consideration to any such comments or (ii) with respect to a Public Communication that is consistent with prior disclosures by
Parent; provided, that the foregoing shall not apply to any disclosure required to be made by the Stockholder to a Governmental
Entity so long as such disclosure is consistent with the terms of this Agreement and the Merger Agreement and the disclosures made
by the Company and Parent pursuant to the terms of the Merger Agreement. Notwithstanding anything to the contrary in this Section
1.05(a), if the Stockholder is a director or officer of the Company, in his or her capacity as a director or officer of the
Company, he or she may make public statements in such capacity to the extent permitted under the Merger Agreement.


 


(b)       The
Stockholder hereby consents to and authorizes the Company and Parent to publish and disclose in any Public Communication or in
any disclosure required by the SEC and in the proxy statement prepared by Parent and filed with the SEC relating to the Parent
Special Meeting (the “Proxy Statement”) the Stockholder’s identity and ownership of Subject Shares
and the Stockholder’s obligations under this Agreement (the “Stockholder Information”), consents
to the filing of this Agreement to the extent required by applicable Law to be filed with the SEC or any regulatory authority relating
to the Merger, and agrees to cooperate with Parent in connection with such filings, including providing Stockholder Information
reasonably requested by Parent. Parent shall use its reasonable best efforts to provide the Stockholder with a reasonable opportunity
to review and comment on any Stockholder Information included in such disclosure in advance of its filing. As promptly as practicable,
the Stockholder shall notify Parent of any required corrections with respect to any Stockholder Information supplied by the Stockholder,
if and to the extent the Stockholder becomes aware that any such Stockholder Information shall have become false or misleading
in any material respect.


 






    4


     


    

 


Section 1.06.Non-Solicitation.


 


(a)       The Stockholder
acknowledges that the Stockholder has read Section 5.15(a) (Exclusivity) of the Merger Agreement. In addition, the Stockholder,
solely in the Stockholder’s capacity as a stockholder of the Company, agrees not to, directly or indirectly, take any action
that would violate Section 5.15(a) of the Merger Agreement if such Stockholder were deemed a “Representative” of the
Company for purposes of Section 5.15(a) of the Merger Agreement; provided, that the foregoing shall not serve to limit or
restrict any actions taken by such Stockholder in any capacity other than as a stockholder of the Company, to the extent such actions
are in compliance with or required under Section 5.15(a) of the Merger Agreement.


 


(b)       Notwithstanding
Section 1.06(a), the Stockholder may participate in discussions and negotiations with any Person making a proposal relating
to an Alternative Transaction (or its Representatives) with respect to such proposal if (i) the Company is engaging in discussions
or negotiations with such Person in compliance with Section 5.15(a) of the Merger Agreement and (ii) such Stockholder’s negotiations
and discussions are in conjunction with and ancillary to the Company’s discussions and negotiations.


 


Section 1.07.No
Agreement as Director or Officer. The Stockholder is entering into this Agreement solely in the Stockholder’s capacity
as record or beneficial owner of Subject Shares and nothing herein is intended to or shall limit or affect any actions taken by
the Stockholder or any employee, officer, director (or person performing similar functions), partner or other Affiliate (including,
for this purpose, any appointee or representative of the Stockholder to the board of directors of the Company) of the Stockholder,
solely in his or her capacity as a director or officer of the Company (or a Subsidiary of the Company) or other fiduciary capacity
for the Company’s stockholders.


 


Section 1.08.Acquisition
of Additional Shares. The Stockholder shall promptly (and in any event within two Business Days) notify Parent of the number
of any additional Shares with respect to which the Stockholder becomes the holder of record or acquires beneficial ownership, if
any, after the execution of this Agreement and before the Expiration Date, which Shares shall, for the avoidance of doubt, automatically
become Subject Shares in accordance with Section 1.01.







 






    5


     


    

 


Section 1.09.No
Litigation. The Stockholder hereby agrees not to commence, maintain or participate in, or facilitate, assist or encourage,
and agrees to take all actions necessary to opt out of any class in any class action with respect to, any claim, derivative or
otherwise, suit, proceeding or cause of action, in law or in equity, in any court or before any Governmental Entity (a) challenging
the validity of, or seeking to enjoin or delay the operation of, any provision of this Agreement or the Merger Agreement (including
any claim seeking to enjoin or delay the consummation of the Merger), (b) alleging a breach of any fiduciary duty of any Person
in connection with the Merger Agreement or the Transactions, or (c) seeking Appraisal Rights in connection with the Merger. Notwithstanding
the foregoing, nothing herein shall be deemed to prohibit the Stockholder from enforcing the Stockholder’s rights under this
Agreement or the Stockholder’s right to receive the Merger Consideration or any cash in lieu of fractional shares to which
it may be entitled pursuant to the Merger Agreement in accordance with the terms thereof.


 


Section 1.10.Further
Assurances. The Stockholder shall execute and deliver, or cause to be executed and delivered, such further certificates, instruments
and other documents and to take such further actions as Parent may reasonably request for the purpose of effectively carrying out
the transactions contemplated by this Agreement.


 


Article
2



REPRESENTATIONS AND WARRANTIES OF THE STOCKHOLDER


 


The Stockholder hereby
represents and warrants to Parent as follows:


 


Section 2.01.Organization;
Authorization. In the event the Stockholder is an individual, the Stockholder has full power, right and legal capacity to execute
and deliver this Agreement and to perform his or her obligations hereunder. In the event the Stockholder is a legal entity, (a)
the Stockholder is a legal entity duly organized, validly existing and in good standing under the Laws of the Stockholder’s
jurisdiction of organization, (b) the Stockholder has all requisite corporate or similar power and authority and has taken all
corporate or similar action necessary in order to execute and deliver this Agreement, to perform the Stockholder’s obligations
under this Agreement and to consummate the transactions contemplated by this Agreement and (c) no approval by any holder of the
Stockholder’s equity interests is necessary to approve this Agreement. This Agreement has been duly executed and delivered
by the Stockholder and, in the event the Stockholder is an individual and is married and any of the Stockholder’s Subject
Shares constitute community property or spousal approval is otherwise required in order for this Agreement to be a valid and binding
obligation of the Stockholder, this Agreement has been duly executed and delivered by or on behalf of the Stockholder’s spouse,
and this Agreement constitutes a valid and binding agreement of the Stockholder enforceable against the Stockholder in accordance
with its terms, subject to the Bankruptcy and Equity Exception.


 






    6


     


    

 


Section 2.02.Governmental
Filings; No Violations; Certain Contracts.


 


(a)       Except
for filings with the SEC under the Exchange Act and such other reports under, and such other compliance with, the Exchange Act
as may be required in connection with this Agreement, no filings, notices, reports, consents, registrations, approvals, permits
or authorizations are required to be made by the Stockholder with, nor are any required to be made or obtained by the Stockholder
with or from any Governmental Entity, in connection with the execution, delivery and performance of this Agreement by the Stockholder
and the consummation of the transactions contemplated by this Agreement, except as would not, individually or in the aggregate,
reasonably be expected to prevent, delay or impair the ability of the Stockholder to perform the Stockholder’s obligations
under this Agreement or to consummate the transactions contemplated by this Agreement.


 


(b)       The
execution, delivery and performance of this Agreement by the Stockholder does not, and the consummation of the transactions contemplated
by this Agreement by the Stockholder shall not, constitute or result in (i) a breach or violation of, or a default under, the Organizational
Documents of the Stockholder, if applicable, or (ii) with or without notice, lapse of time or both, a breach or violation of, a
termination (or right of termination) of or default under, the creation or acceleration of any obligations under or the creation
of an Encumbrance on any of the assets of the Stockholder pursuant to, any Contract binding upon the Stockholder or, assuming (solely
with respect to performance of this Agreement and consummation of the transactions contemplated by this Agreement) compliance with
the matters referred to in Section 2.02(a), under any Law to which the Stockholder is subject, except, in each case, as
would not, individually or in the aggregate, reasonably be expected to prevent, delay or impair the ability of the Stockholder
to perform its obligations under this Agreement or consummate the transactions contemplated by this Agreement.


 


Section 2.03.Litigation.
As of the date of this Agreement, except as would not, individually or in the aggregate, reasonably be expected to prevent, delay
or impair the ability of the Stockholder perform its obligations under this Agreement or to consummate the transactions contemplated
by this Agreement, (a) there are no Actions pending or, to the knowledge of the Stockholder, threatened against the Stockholder
or any of its Affiliates and (b) neither the Stockholder nor any of its Affiliates is a party to or subject to the provisions of
any judgment, order, writ, injunction, decree or award of any Governmental Entity.


 


Section 2.04.Ownership
of Company Stock; Voting Power. The Stockholder’s signature page hereto correctly sets forth the number of the Stockholder’s
Subject Shares as of the date of this Agreement and, other than such Subject Shares, as of the date of this Agreement, there are
no Company securities (or any securities convertible, exercisable or exchangeable for, or rights to purchase or acquire, any Company
securities) held of record or beneficially owned by the Stockholder or in respect of which the Stockholder has full voting power.
The Stockholder is the record holder and beneficial owner of all of its Subject Shares and has, and shall have throughout the Applicable
Period, full voting power and power of disposition with respect to all such Subject Shares free and clear of any liens, claims,
proxies, voting trusts or agreements, options or any other encumbrances or restrictions on title, transfer or exercise of any rights
of a stockholder in respect of such Subject Shares (collectively, “Encumbrances”), except for any such
Encumbrance that (a) may be imposed pursuant to (i) this Agreement, (ii) any applicable restrictions on transfer under U.S. state
or federal securities or “blue sky” Laws, or (iii) the Company’s Organizational Documents or the terms of any
customary custody or similar agreement applicable to Subject Shares held in brokerage accounts or (b) would not, individually or
in the aggregate, reasonably be expected to prevent, delay or impair the ability of the Stockholder perform its obligations under
this Agreement or to consummate the transactions contemplated by this Agreement. No Person has any contractual or other right or
obligation to purchase or otherwise acquire any of the Stockholder’s Subject Shares other than pursuant to the Merger Agreement
or as set forth in the Company’s Organizational Documents.


 






    7


     


    

 


Section 2.05.Reliance.
The Stockholder understands and acknowledges that Parent and Merger Sub are relying upon the Stockholder’s execution, delivery
and performance of this Agreement and upon the representations and warranties and covenants of the Stockholder contained in this
Agreement.


 


Section 2.06.Finder’s
Fees. No agent, broker, investment banker, finder or other intermediary is or shall be entitled to any fee or commission or
reimbursement of expenses from Parent, Merger Sub or the Company or any of their respective Affiliates in respect of this Agreement
based upon any arrangement or agreement made by or on behalf of such Stockholder.


 


Section 2.07.Proxy
Statement. None of the information supplied or to be supplied by the Stockholder for inclusion or incorporation by reference
in the Proxy Statement and any amendment or supplement thereto will, at the date of mailing to the stockholders of the Parent and
at the time of the Parent Special Meeting contain any untrue statement of a material fact or omit to state any material fact required
to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were
made, not misleading.


 


Section 2.08.Other
Agreements. The Stockholder has not taken or permitted any action that would or would reasonably be expected to (a) constitute
or result in a breach hereof, (b) make any representation or warranty of the Stockholder set forth herein untrue or inaccurate
or (c) otherwise restrict, limit or interfere with the performance of this Agreement, the Merger Agreement or the transactions
contemplated by this Agreement or the Merger Agreement.


 


Section 2.09.Stockholder
Has Adequate Information. The Stockholder acknowledges that the Stockholder is a sophisticated investor with respect to the
Stockholder’s Subject Shares and has adequate information concerning the business and financial condition of the Company
to make an informed decision regarding the transactions contemplated by this Agreement and has, independently and without reliance
upon Parent, the Company or any Affiliate of Parent and the Company, and based on such information as the Stockholder has deemed
appropriate, made the Stockholder’s own analysis and decision to enter into this Agreement. The Stockholder acknowledges
that the Stockholder has had the opportunity to seek independent legal advice prior to executing this Agreement.


 






    8


     


    

 


Section 2.10.No
Other Representations or Warranties. Except for the representations and warranties made by the Stockholder in this Article
2, neither the Stockholder nor any other Person makes any express or implied representation or warranty to Parent in connection
with this Agreement or the transactions contemplated by this Agreement, and the Stockholder expressly disclaims any such other
representations or warranties.


 


Article
3



REPRESENTATIONS AND WARRANTIES OF PARENT


 


Parent represents and
warrants to the Stockholder as follows:


 


Section 3.01.Organization.
Parent is a corporation duly organized, validly existing and in good standing under the Laws of Delaware.


 


Section 3.02.Corporate
Authority. Parent has all requisite corporate power and authority and has taken all corporate or similar action necessary in
order to execute and deliver this Agreement, to perform its obligations under this Agreement and to consummate the transactions
contemplated by this Agreement. No approval by any holder of Parent’s equity interests is necessary to approve this Agreement.
This Agreement has been duly executed and delivered by Parent and constitutes a valid and binding agreement of Parent enforceable
against Parent in accordance with its terms, subject to the Bankruptcy and Equity Exception.


 


Section 3.03.No
Other Representations or Warranties. Except for the representations and warranties made by Parent in this Article 3,
neither Parent nor any other Person makes any express or implied representation or warranty to the Stockholder in connection with
this Agreement or the transactions contemplated by this Agreement, and Parent expressly disclaims any such other representations
or warranties.


 


Article
4



GENERAL PROVISIONS


 


Section 4.01.Termination.
This Agreement, including the voting agreements contemplated by this Agreement, shall automatically be terminated at the earliest
to occur of: (a) the Effective Time; (b) the termination of the Merger Agreement pursuant to Article VII thereof; (c) the effective
date of a written agreement duly executed and delivered by Parent and the Stockholder terminating this Agreement; (d) any amendment
or modification of, or waiver under, the Merger Agreement, in each case without the prior written consent of the Stockholder, in
a manner that (1) reduces or imposes any restriction on the right of the Stockholder to receive the Merger Consideration, (2) reduces
the amount or changes the form of the Merger Consideration, or (3) extends the Outside Date (the date and time at which the earliest
of clause (a), (b), (c), and (d) occurs being, the “Expiration Date”); provided, however,
that in the case of any termination pursuant to clause (a) of this sentence, Section 1.04 (Waiver of Appraisal Rights),
Section 1.05 (Public Announcements; Filings; Disclosures), Section 1.09 (No Litigation) and Section
1.10 (Further Assurances) and this Article 4 shall survive such termination. Nothing set forth in this Section
4.01 or elsewhere in this Agreement shall relieve any Party of any liability or damages to any other Party for any breach of
this Agreement by such Party prior to such termination or fraud in connection with, arising out of or otherwise related to the
express representations and warranties set forth in this Agreement or any instrument or other document delivered pursuant to this
Agreement.


 






    9


     


    

 


Section 4.02.Notices.
All notices, requests, instructions, consents, claims, demands, waivers, approvals and other communications to be given or made
hereunder by a Party to the other Party shall be in writing and shall be deemed to have been duly given or made on the date of
delivery to the recipient thereof if received prior to 5:00 p.m. in the place of delivery and such day is a Business Day (or otherwise
on the next succeeding Business Day) if (a) served by personal delivery or by a nationally recognized overnight courier service
upon the Party for whom it is intended, (b) delivered by registered or certified mail, return receipt requested or (c) sent by
email; provided that email transmission is promptly confirmed by telephone or otherwise. Such communications shall be sent
to the respective Parties at the following street addresses or email addresses or at such other street address, or email address
for a Party as shall be specified for such purpose in a notice given in accordance with this Section 4.02:


 


If to Parent:


 


Forum Merger III Corporation


1615 South Congress Avenue


Suite 103


Delray Beach, FL 33445


Attention: Marshall Kiev


      David Boris


Email: mk@mkcapitalpartners.com


    david@forummerger.com


 


with a copy to (which shall not constitute notice):


 


White & Case LLP

1221 Avenue of the Americas


New York, NY 10020

Attention: Joel Rubinstein


   Gary Silverman


Email: Joel.Rubinstein@whitecase.com


   Gary.Silverman@whitecase.com


 






    10


     


    

 


If to the Stockholder,
to the Stockholder’s address set forth on a signature page hereto.


 


Section 4.03.Miscellaneous.
Article IX, other than Sections 9.5, 9.8, 9.13 and 9.14 of the Merger Agreement, shall apply to this Agreement mutatis mutandis.


 


[Signature Page Follows]


 






    11


     


    

 





IN WITNESS WHEREOF,
the Parties have caused this Agreement to be duly executed as of the date first written above.


 


	 	
        Forum Merger III Corporation

	 	 
	 	By:  	                                             
	 	 	Name:
	 	 	Title:


 


[Signature Page to Stockholder Support
Agreement]




 






    


     


    

 




IN WITNESS WHEREOF,
the Parties have caused this Agreement to be duly executed as of the date first written above.


	
         

        STOCKHOLDER
	 	 
	 	 	 
	 	 	 
	 	 	 
	Signature of Stockholder	 	Name of Person Signing for the Stockholder (If signing in a representative capacity for a corporation, trust, partnership or other entity)
	 	 	 
	 	 	 
	 	 	 
	Printed Name of Stockholder	 	Title of Person Signing for the Stockholder (If signing in a representative capacity for a corporation, trust, partnership or other entity)
	 	 	 
	 	 	 
	[Signature of Stockholder’s Spouse]	 	[Printed Name of Stockholder’s Spouse]



 


	Address:	 	 
	 	 


 



	 	Shares Owned Beneficially	 	 	 	Shares Held of Record	 	Shares Over Which the Stockholder has Full Voting Power
	 	[●]	 	 	 	[●]	 	[●]



 


[Signature Page to Stockholder Support
Agreement]








 






    


     


    

 


Annex A


 


ACTION

BY WRITTEN CONSENT

OF THE STOCKHOLDERS

OF

ELECTRIC LAST MILE, INC.


 


In accordance with
Sections 228 and 251 of the Delaware General Corporation Law (“DGCL”) and the Amended and Restated Bylaws
of Electric Last Mile, Inc., a Delaware corporation (the “Company”), the undersigned stockholders of
the Company (the “Stockholders”), having not less than the minimum number of votes that would be necessary
to authorize or take such action at a meeting at which all shares entitled to vote thereon were present and voted and representing
all of the stockholders of the Company, hereby take the following actions and adopt the following resolutions:


 


APPROVAL
OF THE MERGER AGREEMENT AND THE TRANSACTIONS CONTEMPLATED THEREBY


 


WHEREAS, the Stockholders have considered the transactions contemplated
by the Agreement and Plan of Merger (the “Merger Agreement”), dated as of December 10, 2020, by and among
the Company, Forum Merger III Corporation, a Delaware corporation (“Parent”), ELMS Merger Corp., a Delaware
corporation and wholly owned subsidiary of Parent (“Merger Sub”), and Jason Luo, in the capacity as the
initial Stockholder Representative thereto, a copy of which has been presented to the Stockholders and is attached hereto as Annex
A. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to them in the Merger Agreement;


 


WHEREAS, the Merger
Agreement provides for, among other things, the merger of Merger Sub with and into the Company (the “Merger”),
with the Company as the surviving corporation;


 


WHEREAS, pursuant to
the Merger and subject to the terms and conditions of the Merger Agreement, Parent will deliver or cause to be delivered the aggregate
Merger Consideration to be allocated among the Stockholders as provided in the Merger Agreement in exchange for all of the issued
and outstanding shares of capital stock of the Company;


 


WHEREAS, the Board
of Directors of the Company (the “Board”) has approved and declared advisable the Merger Agreement and
entered into the Merger Agreement on the date thereof; and


 


WHEREAS, the Board
has recommended that the Stockholders vote in favor of the adoption of the Merger Agreement and the transactions contemplated thereby.


 


NOW, THEREFORE, BE
IT RESOLVED, that the Merger Agreement, together with all exhibits, annexes and schedules thereto, the transactions contemplated
thereby, including the Merger, and any matter required to be approved by the Stockholders in order to facilitate the Merger and
the approval of all other transactions contemplated by the Merger Agreement are hereby consented to, adopted, approved and ratified
in accordance with the DGCL and the Company’s Amended and Restated Bylaws (the “Bylaws”); and that
the Company be, and hereby is, authorized, directed and empowered to (i) perform its obligations under the Merger Agreement and
(ii) enter into and/or perform its obligations under each other agreement, instrument, document or certificate required or permitted
to be entered into by the Company under the terms of the Merger Agreement;


 






    Annex A-1


     


    

 


RESOLVED FURTHER, that
the officers of the Company be, and each of them hereby is, authorized and directed, on behalf and in the name of the Company,
to do or cause to be done any and all such further acts and things and to execute and deliver any and all such additional agreements,
certificates, documents and instruments as any such officer may deem necessary or appropriate in connection with the transactions
contemplated by the Merger Agreement;


 


RESOLVED FURTHER, that
the officers of the Company be, and each of them hereby is, authorized and directed, on behalf and in the name of the Company,
to cause to be prepared, executed and filed with the appropriate foreign, federal, state or local governmental authorities or instrumentalities,
including the filing of the Certificate of Merger, such registrations, declarations or other filings as any such officer may deem
necessary or desirable or as may be required by such governmental authorities or instrumentalities in connection with the transactions
contemplated by the Merger Agreement;


 


RESOLVED FURTHER, that
the Board be, and hereby is, authorized and empowered to amend the Merger Agreement and take any other action with respect to the
Merger Agreement permitted under Section 251(d) of the DGCL, as the Board may, in the exercise of its discretion, deem advisable,
appropriate and in the best interests of the Company and its Stockholders; and


 


RESOLVED FURTHER, that
any rights to receive notice, or any other consent or waiver required in connection with the Merger or the Merger Agreement, under
the DGCL, the Company’s Certificate of Incorporation, the Bylaws or any other agreement or provision is hereby waived or
granted, as applicable, in all respects.


 


WAIVER OF
DISSENTERS’ RIGHTS


 


WHEREAS, under the
DGCL, the Stockholders may be entitled to appraisal rights in connection with the Merger.


 


NOW, THEREFORE, BE
IT RESOLVED, that each undersigned Stockholder, with respect only to himself, herself or itself, hereby irrevocably waives any
appraisal rights under the DGCL and any notice or disclosure requirements related thereto.


 






    Annex A-2


     


    

 


GENERAL
AUTHORITY


 


RESOLVED FURTHER, that
any of the officers of the Company be, and each hereby is, authorized, directed and empowered, acting on behalf of the Company,
to execute and deliver any certificates, documents, agreements and instruments that any officer or officers executing such documents
may, in the exercise of such officer’s or officers’ discretion, deem appropriate, advisable and in the best interests
of the Company pursuant to the foregoing resolutions, together with such amendments and modifications thereof as shall be made
therein with the approval of such officer or officers, the execution of which shall be conclusive evidence of such approval; and


 


RESOLVED FURTHER, that
any and all acts heretofore done, and any and all documents, instruments and certificates heretofore executed and delivered, in
the name and on behalf of the Company, in connection with the transactions contemplated by the Merger Agreement are hereby ratified
and approved.


 


[The remainder of this page has been
intentionally left blank.]


 






    Annex A-3


     


    

 





The undersigned has
executed this Action By Written Consent of the Stockholders as of the date set forth below.


 


STOCKHOLDER


 


	 	 	 
	Signature of Stockholder	 	Name of Person Signing for the Stockholder (If signing in a representative capacity for a corporation, trust, partnership or other entity)
	 	 	 
	 	 	 
	Printed Name of Stockholder	 	Title of Person Signing for the Stockholder (If signing in a representative capacity for a corporation, trust, partnership or other entity)
	 	 	 
	Date:	 	 








 


[Signature Page to Action By Written
Consent of the Stockholders]


 






    Annex A-4


     


    

 


Annex B


 


FORM OF AMENDED AND RESTATED REGISTRATION
RIGHTS AGREEMENT


 


See attached.





 






    Annex B-1


     


    

 


Annex C


 


FORM OF JOINDER


 


This Joinder Agreement
(this “Joinder Agreement”) is made as of the date written below by the undersigned (the “Joining
Party”) in accordance with the  Support Agreement dated as of [●] [●], 20[●] (the
“Support Agreement”) by and between Parent and the stockholder of the Company that is party thereto as
the same may be amended, supplemented or otherwise modified from time to time. Capitalized terms used herein and not otherwise
defined shall have the meaning ascribed to them in the Support Agreement.


 


The Joining Party hereby
acknowledges, agrees and confirms that, by its execution of this Joinder Agreement, the Joining Party shall be deemed to be a party
to, and a “Stockholder” under, the Support Agreement as of the date hereof and shall have all of the rights and obligations
of a Stockholder as if it had executed the Support Agreement. The Joining Party hereby ratifies, as of the date hereof, and agrees
to be bound by, all of the terms, provisions and conditions contained in the Support Agreement.


 


IN WITNESS WHEREOF,
the undersigned has duly executed this Joinder Agreement as of the date written below.


 


Date: [●] [●], 20[●] 


 


	 	By:	         
	 	 	Name:
	 	 	Title:
	 	 	Address for Notices:
	 	 	 
	 	 	With copies to:


 


 


Annex C-1