Exhibit 10.1


 


INVESTMENT MANAGEMENT TRUST AGREEMENT


 


This Investment Management Trust Agreement
(this “Agreement”) is made effective as of [●], 2020 by and between Consonance-HFW Acquisition
Corp., a Cayman Islands exempted company (the “Company”), and Continental Stock Transfer & Trust
Company, a New York corporation (the “Trustee”).


 


WHEREAS, the Company’s registration
statement on Form S-1, File No. (333-[_____]) (the “Registration Statement”) and prospectus (the “Prospectus”)
for the initial public offering of the Company’s units (the “Units”), each of which consists of
one of the Company’s Class A ordinary shares, par value $0.0001 per share (the “Ordinary Shares”),
and one-third of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one Ordinary Share (such initial
public offering hereinafter referred to as the “Offering”), has been declared effective as of the date
hereof by the U.S. Securities and Exchange Commission; and


 


WHEREAS, the Company has entered into an
Underwriting Agreement (the “Underwriting Agreement”) with J.P. Morgan Securities LLC, as representative
(the “Representative”) of the underwriter (the “Underwriter”) named therein;
and


 


WHEREAS, as described in the
Prospectus, $100,000,000 of the gross proceeds of the Offering and the sale of the Private Placement Units (as defined in the
Underwriting Agreement) (or $115,000,000 if the Underwriter’s over-allotment option is exercised in full) will be
delivered to the Trustee to be deposited and held in a segregated trust account located at all times in the United States
(the “Trust Account”) for the benefit of the Company and the holders of the Ordinary Shares
included in the Units issued in the Offering as hereinafter provided (the amount to be delivered to the Trustee (and any
interest subsequently earned thereon) is referred to herein as the “Property,” the shareholders for
whose benefit the Trustee shall hold the Property will be referred to as the “Public Shareholders,”
and the Public Shareholders and the Company will be referred to together as the “Beneficiaries”);
and


 


WHEREAS, pursuant to the Underwriting Agreement,
a portion of the Property equal to $3,500,000, or $4,025,000 if the Underwriter’s over-allotment option is exercised in full,
is attributable to deferred underwriting discounts and commissions that will be payable by the Company to the Underwriter upon
the consummation of the Business Combination (as defined below) (the “Deferred Discount”); and


 


WHEREAS, the Company and the Trustee desire
to enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee shall hold the Property.


 


NOW THEREFORE, IT IS AGREED:


 


		1.	Agreements and Covenants of Trustee. The Trustee hereby agrees and covenants to:



 


		(a)	Hold the Property in trust for the Beneficiaries in accordance with the terms of this Agreement in the Trust Account established
by the Trustee located in the United States at J.P. Morgan Chase Bank, N.A. (or at another U.S. chartered commercial bank with
consolidated assets of $100 billion or more), maintained by Trustee and at a brokerage institution selected by the Trustee that
is reasonably satisfactory to the Company;



 


		(b)	Manage, supervise and administer the Trust Account subject to the terms and conditions set forth herein;



 






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(c)             In a timely manner, upon the written instruction of the Company, invest and reinvest the Property in United States
government securities within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended, having a maturity
of 185 days or less, or in money market funds meeting the conditions of paragraphs (d)(1), (d)(2), (d)(3) and (d)(4) of Rule 2a-7
promulgated under the Investment Company Act of 1940, as amended (or any successor rule), which invest only in direct U.S. government
treasury obligations, as determined by the Company; the Trustee may not invest in any other securities or assets, it being understood
that the Trust Account will earn no interest while account funds are uninvested awaiting the Company’s instructions hereunder
and the Trustee may earn bank credits or other consideration;


 


(d)             Collect and receive, when due, all principal, interest or other income arising from the Property, which shall become
part of the “Property,” as such term is used herein;


 


(e)             Promptly
notify the Company and the Representative of all communications received by the Trustee with respect to any Property requiring
action by the Company;


 


(f)              Supply any necessary information or documents as may be requested by the Company (or its authorized agents) in connection
with the Company’s preparation of the tax returns relating to assets held in the Trust Account;


 


(g)              Participate in any plan or proceeding for protecting or enforcing any right or interest arising from the Property
if, as and when instructed by the Company to do so;


 


(h)             Render to the Company monthly written statements of the activities of, and amounts in, the Trust Account reflecting
all receipts and disbursements of the Trust Account;


 


(i)               Commence liquidation of the Trust Account only after and promptly following (x) receipt of, and only in accordance
with, the terms of a letter from the Company (“Termination Letter”) in a form substantially similar to
that attached hereto as either Exhibit A or Exhibit B, as applicable, signed on behalf of the Company by its Chief
Executive Officer, Chief Financial Officer or other authorized officer of the Company, and complete the liquidation of the Trust
Account and distribute the Property in the Trust Account, including interest earned on the funds held in the Trust Account and
not previously released to the Company to pay its income taxes, if any, (less up to $100,000 of interest to pay dissolution expenses),
only as directed in the Termination Letter and the other documents referred to therein, or (y) upon the date which is the later
of (1) 24 months after the closing of the Offering and (2) such later date as may be approved by the Company’s shareholders
in accordance with the Company’s amended and restated memorandum and articles of association, if a Termination Letter has
not been received by the Trustee prior to such date, in which case the Trust Account shall be liquidated in accordance with the
procedures set forth in the Termination Letter attached as Exhibit B and the Property in the Trust Account, including interest
earned on the funds held in the Trust Account and not previously released to the Company to pay its income taxes, if any, (less
up to $100,000 of interest to pay dissolution expenses), shall be distributed to the Public Shareholders of record as of such date;


 






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 (j)               Upon
written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto
as Exhibit C (a “Tax Payment Withdrawal Instruction”), withdraw from the Trust Account and distribute
to the Company the amount of interest earned on the Property requested by the Company to cover any tax obligation owed by the
Company as a result of assets of the Company or interest or other income earned on the Property, which amount shall be delivered
directly to the Company by electronic funds transfer or other method of prompt payment, and the Company shall forward such payment
to the relevant taxing authority, so long as there is no reduction in the principal amount per share initially deposited in the
Trust Account; provided, however, that to the extent there is not sufficient cash in the Trust Account to pay such
tax obligation, the Trustee shall liquidate such assets held in the Trust Account as shall be designated by the Company in writing
to make such distribution, so long as there is no reduction in the principal amount per share initially deposited in the Trust
Account (it being acknowledged and agreed that any such amount in excess of interest income earned on the Property shall not be
payable from the Trust Account). The written request of the Company referenced above shall constitute presumptive evidence that
the Company is entitled to said funds, and the Trustee shall have no responsibility to look beyond said request; 


 


(k)              Upon written request from the Company, which may be given from time to time in a form substantially similar to that
attached hereto as Exhibit D (a “Shareholder Redemption Withdrawal Instruction”), the Trustee
shall distribute to the remitting brokers on behalf of Public Shareholders redeeming Ordinary Shares the amount required to pay
redeemed Ordinary Shares from Public Shareholders pursuant to the Company’s amended and restated memorandum and articles
of association; and


 


(l)               Not make any withdrawals or distributions from the Trust Account other than pursuant to Section 1(i), (j)
or (k) above.


 


		2.	Agreements and Covenants of the Company. The Company hereby agrees and covenants to:



 


(a)              Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer,
Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections
1(i), (j) or (k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any
verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of
the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in
writing;


 


(b)             Subject to Section 4 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and
all reasonable and documented expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee
in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against
the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement,
the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting
from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of
demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification
under this Section 2(b), it shall notify the Company in writing of such claim (hereinafter referred to as the “Indemnified
Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided
that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably
withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such
consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;


 






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 (c)            
Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration
fee, and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly
understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to
Sections 1(i) through 1(k) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual
administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of
the Trustee except as set forth in this Section 2(c) and as may be provided in Section 2(b) hereof; 


 


(d)             In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition,
share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business
Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the shareholder
meeting verifying the vote of such shareholders regarding such Business Combination;


 


(e)             Provide the Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent
to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;


 


(f)              Unless otherwise agreed between the Company and the Representative, ensure that any Instruction Letter (as defined
in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that
the Deferred Discount is paid directly to the account or accounts directed by the Representative on behalf of the Underwriter prior
to any transfer of the funds held in the Trust Account to the Company or any other person;


 


(g)             Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing
the Trustee to make any distributions that are not permitted under this Agreement;


 


(h)             If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A)
to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have
their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares
if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect
to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”),
the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of
Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option
and properly tender their shares in connection with such Amendment; and


 


(i)              Within five (5) business days after the Underwriter exercise the over-allotment option (or any unexercised portion
thereof) or such over-allotment option expires, provide the Trustee with a notice in writing of the total amount of the Deferred
Discount, which shall in no event be less than $3,500,000.


 


		3.	Limitations of Liability. The Trustee shall have no responsibility or liability to:



 


(a)             Imply obligations, perform duties, inquire or otherwise be subject to the provisions of any agreement or document
other than this Agreement and that which is expressly set forth herein;


 






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(b)             Take any action with respect to the Property, other than as directed in Section 1 hereof, and the Trustee
shall have no liability to any third party except for liability arising out of the Trustee’s gross negligence, fraud or willful
misconduct;


 


(c)             Institute any proceeding for the collection of any principal and income arising from, or institute, appear in or
defend any proceeding of any kind with respect to, any of the Property unless and until it shall have received written instructions
from the Company given as provided herein to do so and the Company shall have advanced or guaranteed to it funds sufficient to
pay any expenses incident thereto;


 


		(d)	Change the investment of any Property, other than in compliance with Section 1 hereof;



 


		(e)	Refund any depreciation in principal of any Property;



 


(f)              Assume that the authority of any person designated by the Company to give instructions hereunder shall not be continuing
unless provided otherwise in such designation, or unless the Company shall have delivered a written revocation of such authority
to the Trustee;


 


(g)             The other parties hereto or to anyone else for any action taken or omitted by it, or any action suffered by it to
be taken or omitted, in good faith and in the Trustee’s best judgment, except for the Trustee’s gross negligence, fraud
or willful misconduct. The Trustee may rely conclusively and shall be protected in acting upon any order, notice, demand, certificate,
opinion or advice of counsel (including counsel chosen by the Trustee with written notification to the Company, which counsel may
be the Company’s counsel), statement, instrument, report or other paper or document (not only as to its due execution and
the validity and effectiveness of its provisions, but also as to the truth and acceptability of any information therein contained)
which the Trustee believes, in good faith and with reasonable care, to be genuine and to be signed or presented by the proper person
or persons. The Trustee shall not be bound by any notice or demand, or any waiver, modification, termination or rescission of this
Agreement or any of the terms hereof, unless evidenced by a written instrument delivered to the Trustee, signed by the proper party
or parties and, if the duties or rights of the Trustee are affected, unless it shall give its prior written consent thereto;


 


 (h)              Verify the accuracy of the information contained in the Registration Statement;




 


(i)              Provide any assurance that any Business Combination entered into by the Company or any other action taken by the
Company is as contemplated by the Registration Statement;


 


(j)              File information returns with respect to the Trust Account with any local, state or federal taxing authority or provide
periodic written statements to the Company documenting the taxes payable by the Company, if any, relating to any interest income
earned on the Property;


 


(k)             Prepare, execute and file tax reports, income or other tax returns and pay any taxes with respect to any income generated
by, and activities relating to, the Trust Account, regardless of whether such tax is payable by the Trust Account or the Company,
including, but not limited to, income tax obligations, except pursuant to Section 1(j) hereof; or


 


(l)              Verify calculations, qualify or otherwise approve the Company’s written requests for distributions pursuant
to Sections 1(i), 1(j) or 1(k) hereof.


 






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4.              Trust Account Waiver. The Trustee has no right of set-off or any right, title, interest or claim of any kind
(“Claim”) to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or
to any monies in, the Trust Account that it may have now or in the future. In the event the Trustee has any Claim against the Company
under this Agreement, including, without limitation, under Section 2(b) or Section 2(c) hereof, the Trustee shall
pursue such Claim solely against the Company and its assets outside the Trust Account and not against the Property or any monies
in the Trust Account.


 


		5.	Termination. This Agreement shall terminate as follows:



 


(a)             If the Trustee gives written notice to the Company that it desires to resign under this Agreement, the Company shall
use its reasonable efforts to locate a successor trustee, pending which the Trustee shall continue to act in accordance with this
Agreement. At such time that the Company notifies the Trustee that a successor trustee has been appointed by the Company and has
agreed to become subject to the terms of this Agreement, the Trustee shall transfer the management of the Trust Account to the
successor trustee, including but not limited to the transfer of copies of the reports and statements relating to the Trust Account,
whereupon this Agreement shall terminate; provided, however, that in the event that the Company does not locate a
successor trustee within ninety (90) days of receipt of the resignation notice from the Trustee, the Trustee may submit an application
to have the Property deposited with any court in the State of New York or with the United States District Court for the Southern
District of New York and upon such deposit, the Trustee shall be immune from any liability whatsoever; or


 


(b)             At such time that the Trustee has completed the liquidation of the Trust Account and its obligations in accordance
with the provisions of Section 1(i) hereof and distributed the Property in accordance with the provisions of the Termination
Letter, this Agreement shall terminate except with respect to Section 2(b).


 


		6.	Miscellaneous.



 


(a)             The Company and the Trustee each acknowledge that the Trustee will follow the security procedures set forth herein
with respect to funds transferred from the Trust Account. The Company and the Trustee will each restrict access to confidential
information relating to such security procedures to authorized persons. Each party must notify the other party immediately if it
has reason to believe unauthorized persons may have obtained access to such confidential information, or of any change in its authorized
personnel. In executing funds transfers, the Trustee shall rely upon all information supplied to it by the Company, including,
account names, account numbers, and all other identifying information relating to a Beneficiary, Beneficiary’s bank or intermediary
bank. Except for any liability arising out of the Trustee’s gross negligence, fraud or willful misconduct, the Trustee shall
not be liable for any loss, liability or expense resulting from any error in the information or transmission of the funds.


 


(b)             This Agreement 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.
This Agreement may be executed in several original or facsimile counterparts, each one of which shall constitute an original, and
together shall constitute but one instrument.


 






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(c)             This Agreement contains the entire agreement and understanding of the parties hereto with respect to the subject
matter hereof. Except for Section 1(i), 1(j) and 1(k) hereof (which sections may not be modified, amended
or deleted without the affirmative vote of sixty-five percent (65%) of the then outstanding Ordinary Shares and Class B ordinary
shares, par value $0.0001 per share, of the Company, voting together as a single class; provided that no such amendment
will affect any Public Shareholder who has properly elected to redeem his or her Ordinary Shares in connection with a shareholder
vote for an Amendment, this Agreement or any provision hereof may only be changed, amended or modified (other than to correct a
typographical error) by a writing signed by each of the parties hereto.


 


(d)             The parties hereto consent to the jurisdiction and venue of any state or federal court located in the City of New
York, State of New York, for purposes of resolving any disputes hereunder. AS TO ANY CLAIM, CROSS-CLAIM OR COUNTERCLAIM IN ANY
WAY RELATING TO THIS AGREEMENT, EACH PARTY WAIVES THE RIGHT TO TRIAL BY JURY.


 


(e)            
Any notice, consent or request to be given in connection with any of the terms or provisions of this Agreement shall
be in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested),
by hand delivery or by electronic mail or facsimile transmission:


 


if to the Trustee, to:


 


Continental Stock Transfer & Trust Company


1 State Street, 30th Floor


New York, New York 10004


		Attn:	Francis E. Wolf, Jr. & Celeste Gonzalez



		Email:	fwolf@continentalstock.com

 cgonzalez@continentalstock.com



 


if to the Company, to:


 


Consonance-HFW Acquisition
Corp.


1 Palmer Square, Suite 305


Princeton, NJ 08540


 


in each case, with copies
to:


 


Goodwin Procter LLP


601 Marshall Street


Redwood City, CA 94063


Attention: Dan Espinoza


 


and


 


J.P. Morgan Securities LLC


383 Madison Avenue


New York, New York 10179


Attn: Equity Syndicate Desk


 


and


 


Davis Polk & Wardwell LLP


450 Lexington Avenue


New York, New York 10017


Attn: Deanna L. Kirkpatrick


Email: deanna.kirkpatrick@davispolk.com


 






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(f)                      
Each of the Company and the Trustee hereby represents that it has the full right and power and has been duly authorized
to enter into this Agreement and to perform its respective obligations as contemplated hereunder. The Trustee acknowledges and
agrees that it shall not make any claims or proceed against the Trust Account, including by way of set-off, and shall not be entitled
to any funds in the Trust Account under any circumstance.


 


(g)                     
This Agreement is the joint product of the Trustee and the Company and each provision hereof has been subject to
the mutual consultation, negotiation and agreement of such parties and shall not be construed for or against any party hereto.


 


(h)                     
This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but
all such counterparts shall together constitute one and the same instrument. Delivery of a signed counterpart of this Agreement
by facsimile or electronic transmission shall constitute valid and sufficient delivery thereof.


 


(i)                      
Each of the Company and the Trustee hereby acknowledges and agrees that the Representative on behalf of the Underwriter
is a third-party beneficiary of this Agreement.


 


(j)                     
Except as specified herein, no party to this Agreement may assign its rights or delegate its obligations hereunder
to any other person or entity.


 


[Signature Page Follows]





 






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


 


CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as
Trustee


   


	 By: 	            	   



 Name: Francis Wolf 




 Title:   Vice President 




 


Consonance-HFW Acquisition Corp.


 


	By:	                                              	 



Name: Gad Soffer


Title: Chief Executive Officer


 






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SCHEDULE A


 


	Fee Item	 	Time and Method of Payment	 	Amount
	Initial acceptance fee	 	
        Initial closing of the offering by wire transfer

         
	 	$3,500.00
	Annual fee	 	
        First year, initial closing of the Offering by wire transfer;
        thereafter $10,000.00 on the anniversary of the effective date of the Offering by wire

         

        transfer or check

         
	 	$10,000.00
	
        Transaction processing fee for disbursements to Company under
        Sections 1(i), (j) and (k)

         
	 	Billed by Trustee to Company under Section 1	 	$250.00
	Paying Agent services as required pursuant to Section 1(i) and 1(k)	 	Billed to Company upon deliver of service pursuant to Section 1(i) and 1(k)	 	Prevailing rates


 









     


     


    

 


EXHIBIT A


 


[Letterhead of Company]


 


[Insert date]


 


Continental Stock Transfer & Trust Company 


1 State Street, 30th Floor 


New York, New York 10004 


 Attn: Francis Wolf & Celeste Gonzalez 


 


Re:          Trust Account - Termination Letter


  


 Dear Mr. Wolf and Ms. Gonzalez: 


  


Pursuant to Section 1(i) of the Investment
Management Trust Agreement between Consonance-HFW Acquisition Corp. (the “Company”) and Continental Stock Transfer
& Trust Company (“Trustee”), dated as of [●], 2020 (the “Trust Agreement”), this is to advise
you that the Company has entered into an agreement with [_____] (the “Target Business”) to consummate a business combination
with Target Business (the “Business Combination”) on or about [_____]. The Company shall notify you at least seventy-two
(72) hours in advance of the actual date (or such shorter time period as you may agree) of the consummation of the Business Combination
(the “Consummation Date”). Capitalized terms used but not defined herein shall have the meanings set forth in the Trust
Agreement.


 


In accordance with the terms of the Trust
Agreement, we hereby authorize you to commence to liquidate all of the assets of the Trust Account, and to transfer the proceeds
into the trust operating account at J.P. Morgan Chase Bank, N.A. to the effect that, on the Consummation Date, all of the funds
held in the Trust Account will be immediately available for transfer to the account or accounts that the Representative (with respect
to the Deferred Discount) and the Company shall direct on the Consummation Date. It is acknowledged and agreed that while the funds
are on deposit in said trust operating account at J.P. Morgan Chase Bank, N.A. awaiting distribution, neither the Company nor the
Representative will earn any interest or dividends.


 


On the Consummation Date (i) counsel for
the Company shall deliver to you written notification that the Business Combination has been consummated, or will be consummated
substantially concurrently with your transfer of funds to the accounts as directed by the Company (the “Notification”),
and (ii) the Company shall deliver to you (a) a certificate of the Chief Executive Officer, Chief Financial Officer or other authorized
officer of the Company, which verifies that the Business Combination has been approved by a vote of the Company’s shareholders,
if a vote is held and (b) a joint written instruction signed by the Company and the Representative with respect to the transfer
of the funds held in the Trust Account, including payment of amounts owed to public shareholders who have properly exercised their
redemption rights and payment of the Deferred Discount directly to the account or accounts directed by the Representative from
the Trust Account (the “Instruction Letter”). You are hereby directed and authorized to transfer the funds held in
the Trust Account immediately upon your receipt of the Notification and the Instruction Letter, in accordance with the terms of
the Instruction Letter. In the event that certain deposits held in the Trust Account may not be liquidated by the Consummation
Date without penalty, you will notify the Company in writing of the same and the Company shall direct you as to whether such funds
should remain in the Trust Account and be distributed after the Consummation Date to the Company. Upon the distribution of all
the funds, net of any payments necessary for reasonable unreimbursed expenses related to liquidating the Trust Account, your obligations
under the Trust Agreement shall be terminated.


 


In the event that the Business Combination
is not consummated on the Consummation Date described in the notice thereof and we have not notified you on or before the original
Consummation Date of a new Consummation Date, then upon receipt by the Trustee of written instructions from the Company, the funds
held in the Trust Account shall be reinvested as provided in Section 1(c) of the Trust Agreement on the business day immediately
following the Consummation Date as set forth in such notice as soon thereafter as possible.


 


	 	Very truly yours,
	 	 
	 	Consonance-HFW Acquisition
    Corp.
	 	 
	 	By: 	                              
	 	Name: 
	 	Title




 


cc: J.P. Morgan Securities LLC


 






     


     


    

 


EXHIBIT B


 


[Letterhead of Company]


 


[Insert date]


 


Continental Stock Transfer & Trust Company 


1 State Street, 30th Floor 


New York, New York 10004 


 Attn: Francis Wolf & Celeste Gonzalez 


 


Re:           Trust Account - Termination Letter


 


 Dear Mr. Wolf and Ms. Gonzalez: 


 


Pursuant to Section 1(i) of the Investment Management Trust
Agreement between Consonance-HFW Acquisition Corp. (the “Company”) and Continental Stock Transfer & Trust Company
(the “Trustee”), dated as of [●], 2020 (the “Trust Agreement”), this is to advise you that the Company
has been unable to effect a business combination with a Target Business (the “Business Combination”) within the time
frame specified in the Company’s Amended and Restated Memorandum and Articles of Association, as described in the Company’s
Prospectus relating to the Offering. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust
Agreement.


 


 In accordance with the terms of the Trust Agreement, we
hereby authorize you to liquidate all of the assets in the Trust Account and to transfer the total proceeds into the trust operating
account at J.P. Morgan Chase Bank, N.A. to await distribution to the Public Shareholders. The Company has selected [_____] as
the effective date for the purpose of determining when the Public Shareholders will be entitled to receive their share of the
liquidation proceeds. It is acknowledged that no interest will be earned by the Company on the liquidation proceeds while on deposit
in the trust operating account. You agree to be the Paying Agent of record and, in your separate capacity as Paying Agent, agree
to distribute said funds directly to the Company’s Public Shareholders in accordance with the terms of the Trust Agreement
and the Amended and Restated Memorandum and Articles of Association of the Company. Upon the distribution of all the funds, net
of any payments necessary for reasonable unreimbursed expenses related to liquidating the Trust Account, your obligations under
the Trust Agreement shall be terminated, except to the extent otherwise provided in Section 1(j) of the Trust Agreement. 


 


	 	Very truly yours,
	 	 
	 	Consonance-HFW Acquisition Corp.
	 	 
	 	By: 
	 	Name: 
	 	Title




 


cc: J.P. Morgan Securities LLC


 






     


     


    

 





EXHIBIT C


 


[Letterhead of Company]


 


[Insert date]


 


Continental Stock Transfer & Trust Company 


1 State Street, 30th Floor 


New York, New York 10004 


 Attn: Francis Wolf & Celeste Gonzalez 


 


Re:          Trust Account – Tax Payment Withdrawal Instruction


 


 Dear Mr. Wolf and Ms. Gonzalez:  


 


Pursuant to Section
1(j) of the Investment Management Trust Agreement between Consonance-HFW Acquisition Corp. (the
“Company”) and Continental Stock Transfer & Trust Company (the
“Trustee”), dated as of [●], 2020 (the “Trust Agreement”), the
Company hereby requests that you deliver to the Company $ [      ] of the interest
income earned on the Property as of the date hereof. Capitalized terms used but not defined herein shall have the meanings
set forth in the Trust Agreement.


 


The Company needs such
funds to pay for the tax obligations as set forth on the attached tax return or tax statement. In accordance with the terms of
the Trust Agreement, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt
of this letter to the Company’s operating account at:


 


[WIRE INSTRUCTION INFORMATION]


 


	 	Very truly yours,
	 	 
	 	Consonance-HFW Acquisition
    Corp.
	 	 
	 	By: 
	 	Name: 
	 	Title




 


cc: J.P. Morgan Securities LLC


 






     


     


    

 





EXHIBIT D


 


[Letterhead of Company]


 


[Insert date]


 


Continental Stock Transfer & Trust Company 


1 State Street, 30th Floor 


New York, New York 10004 


 Attn: Francis Wolf & Celeste Gonzalez 


 


Re:          Trust Account – Shareholder Redemption Withdrawal
Instruction


 


 Dear Mr. Wolf and Ms. Gonzalez:  


 


Pursuant to Section 1(k) of the Investment Management Trust
Agreement between Consonance-HFW Acquisition Corp. (the “Company”) and Continental Stock Transfer & Trust Company
(the “Trustee”), dated as of [●], 2020 (the “Trust Agreement”), the Company hereby requests that
you deliver to the redeeming Public Shareholders on behalf of the Company $[_____] of the principal and interest income earned
on the Property as of the date hereof. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust
Agreement.


 


Pursuant to Section 1(k) of the Trust Agreement, this is to
advise you that the Company has sought an Amendment. Accordingly, in accordance with the terms of the Trust Agreement, we hereby
authorize you to liquidate a sufficient portion of the Trust Account and to transfer $[●] of the proceeds of the Trust Account
to the trust operating account at J.P. Morgan Chase Bank, N.A. for distribution to the shareholders that have requested redemption
of their shares in connection with such Amendment.


  


	 	Very truly yours,
	 	 
	 	Consonance-HFW Acquisition Corp.
	 	  
	 	By:
	 	Name: 
	 	Title




 


cc: J.P. Morgan Securities LLC