Exhibit 10.2


 


INVESTMENT MANAGEMENT TRUST AGREEMENT


 


This Investment Management Trust Agreement
(this “Agreement”) is made effective as of December 10, 2019, by and between LIV Capital 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. 333-234799 (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 warrant,
each 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 EarlyBirdCapital, Inc., as representative
(the “Representative”) of the several underwriters (the “Underwriters”) named therein; and


 


WHEREAS, as described in the Prospectus,
$70,000,000 of the gross proceeds of the Offering and sale of the Private Placement Warrants (as defined in the Underwriting Agreement)
(or $80,500,000 if the Underwriters’ over-allotment option is exercised in full) will be delivered to the Trustee to be deposited
and held in a trust account located at all times in the United States (the “Trust Account”) for the benefit
of the Company and the holders of 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, 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 in the United States at J.P. Morgan Chase Bank, N.A. 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;


 


(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 180 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;
while on deposit, the Trustee may earn bank credits or other consideration;


 


(d)
Collect and receive, when due, all 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 or in connection with the
preparation or completing of the audit of the Company’s financial statements by the Company’s auditors;


 


(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 after (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 or
Chairman of the board of directors of the Company (the “Board”), and in the case of Exhibit A, jointly
signed by the Representative, and complete the liquidation of the Trust Account and distribute the Property in the Trust Account,
including interest (which interest shall be net of any taxes payable and, in the case of a Termination Letter in a form substantially
similar to that attached hereto as Exhibit B, 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 (i) 21 months
after the closing of the Offering and (ii) 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 (which interest
shall be net of any taxes payable and less up to $100,000 of interest to pay dissolution expenses), shall be distributed to the
Public Shareholders of record as of such date; provided, however, that in the event the Trustee receives a Termination
Letter in a form substantially similar to Exhibit B hereto, or if the Trustee begins to liquidate the Property because it
has received no such Termination Letter by the date specified in clause (y) of this Section ‎1(i), the Trustee
shall keep the Trust Account open until twelve (12) months following the date the Property has been distributed to the Public Shareholders;


 






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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, 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, as applicable; 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 initially deposited in 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, the Trustee shall distribute to the Public Shareholders of record as of such date the amount requested
by the Company to be used to redeem Ordinary Shares from Public Shareholders properly submitted in connection with a shareholder
vote to approve an amendment to the Company’s amended and restated memorandum and articles of association (i) that would
affect the ability of holders of public Ordinary Shares to exercise redemption rights or modify the substance or timing of the
Company’s obligation to redeem 100% of its public Ordinary Shares if the Company has not consummated an initial Business
Combination within such time as is described in the Company’s amended and restated memorandum and articles of association
or (ii) with respect to any other provision relating to shareholders’ rights or pre-initial Business Combination activity;
and


 






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(l)
Not make any withdrawals or distributions from the Trust Account other than pursuant to Sections ‎1(i),
‎1(j) or ‎1(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 or Chairman
of the Board. In addition, except with respect to its duties under Sections ‎1(i), ‎1(j)
and ‎1(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 out-of-pocket 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 or delayed. 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 or delayed. The Company may participate in such action with its own counsel;


 


(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), Schedule A and as may be provided
in Section ‎2(b) hereof;


 






    4


     


    

 


(d)
In connection with any vote of the Company’s shareholders regarding a merger, amalgamation, share exchange, asset
acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (a
“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; and


 


(f)
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.


 


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;


 


(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 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)
Refund any depreciation in principal of any Property;


 


(e)
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;


 


(f)
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, 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;


 






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


 


(h)
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;


 


(i)
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;


 


(j)
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


 


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


 


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.


 






    6


     


    

 


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 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); or


 


(c)
If the Offering is not consummated within ten (10) business days of the date of this Agreement, in which case any funds
received by the Trustee from the Company or LIV Capital Acquisition Sponsor, L.P. for purposes of funding the Trust Account shall
be promptly returned to the Company or LIV Capital Acquisition Sponsor, L.P., as applicable.


 


6.
Miscellaneous.


 


(a)
The Company and the Trustee each acknowledge that the Trustee will follow the security procedures set forth below 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.


 






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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 Sections ‎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 otherwise indicated his, her or its election to redeem his, her
or its Ordinary Shares in connection with a shareholder vote sought to amend this Agreement), 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, by electronic mail or by facsimile transmission:


 


if to the Trustee, to:


 


Continental Stock Transfer & Trust Company


One State Street, 30th Floor


New York, NY 10004


Attn: Francis Wolf and Celeste Gonzalez





	 	Email:	fwolf@continentalstock.com
	 	 	cgonzalez@continentalstock.com







 


if to the Company, to:


 


LIV Capital Acquisition Corp.


Torre Virreyes, Pedregal No. 24, Piso 6-601

Col. Molino del Rey

México, CDMX, C.P. 11040


Attn: Mariana Romero and Rodrigo Gamero








	 	Email:	mromero@livcapital.mx
	 	 	rgamero@livcapital.mx












 






    8


     


    

 


in each case, with copies to:


 


Davis Polk & Wardwell LLP

450 Lexington Avenue

New York, NY 10017


Attn: Derek J. Dostal, Esq.

Email: derek.dostal@davispolk.com


 


and


 


EarlyBirdCapital, Inc.


366 Madison Avenue, 8th Floor

New York, NY 10017


Attn.: Steven Levine and Mauro Conijeski





	 	Email:	 slevine@ebcap.com
	 	 	mconijeski@ebcap.com













 


and


 


Graubard Miller


405 Lexington Avenue, 11th Floor


New York, NY 10174


Attn:      David
Miller, Esq. and Jeffrey M. Gallant, Esq.





	 	Email:	DMiller@graubard.com
	 	 	JGallant@graubard.com













 


(f)
This Agreement may not be assigned by the Trustee without the prior consent of the Company.


 


(g)
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.


 


(h)
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.


 


(i)
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.


 


(j)
Each of the Company and the Trustee hereby acknowledges and agrees that the Representative, on behalf of the Underwriters,
is a third party beneficiary of this Agreement.


 


(k)
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]


 




    9


     


    


 


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


 


	 	LIV CAPITAL ACQUISITION CORP.
	 	 
	 	By:	/s/ Alexander R. Rossi
	 	 	Name:	 Alexander R. Rossi
	 	 	Title:	Chief Executive Officer and Chairman


 





[Signature Page to Investment Management
Trust Agreement]







 




    10


     


    


 


SCHEDULE A


 


	
        Fee
        Item

        
	 	
        Time
        and method of payment

        
	 	
        Amount

        

	Initial acceptance fee	 	Initial closing of Offering by wire transfer	 	$3,500
	Trustee administration fee	 	First year, initial closing of Offering by wire transfer; thereafter on the anniversary of the effective date of the Offering by wire transfer or check	 	$10,000
	Transaction processing fee for disbursements to Company under Sections ‎1(i), ‎1(j) and ‎1(k)	 	Billed to Company following disbursement made to Company under Section ‎1	 	$250.00
	Paying Agent services as required pursuant to Sections ‎1(i) and ‎1(k)	 	Billed to Company upon delivery of service pursuant to Sections ‎1(i) and ‎1(k)	 	Prevailing rates


 









    Sched. A-1


     


    

 


EXHIBIT A


 


[Letterhead of Company]


 


[Insert date]


 


Continental Stock Transfer & Trust Company


One State Street, 30th Floor


New York, New York 10004


Attn: Francis Wolf and Celeste Gonzalez


 


Re: Trust Account No. Termination Letter


 


Mr. Wolf and Ms. Gonzalez:


 


Pursuant to Section ‎1(i)
of the Investment Management Trust Agreement between LIV Capital Acquisition Corp. (the “Company”) and Continental
Stock Transfer & Trust Company (the “Trustee”), dated as of [·],
2019 (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 [insert date]. The Company shall notify you at least seventy-two (72) hours in advance (or such shorter time
as you may agree) of the actual date 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 a segregated account held by you on behalf of the Beneficiaries 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 Company shall direct on
the Consummation Date. It is acknowledged and agreed that while the funds are on deposit in the trust operating account at J.P.
Morgan Chase Bank, N.A. awaiting distribution, the Company will earn no 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 or Chief Financial 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) joint written instruction signed by the Company and EarlyBirdCapital, Inc., with respect to the transfer of the funds held
in 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.


 






    A-1


     


    

 


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 written instruction
as soon thereafter as possible.


 


	 	
        Very truly yours,

         

        LIV Capital Acquisition Corp.

         

	 	By:	 
	 	 	Name:
	 	 	Title:


 


Agreed and acknowledged by:


 


EarlyBirdCapital, Inc.


 





	By:	 	 
	 	Name:	 
	 	Title:	 



 






    A-2


     


    

 


EXHIBIT B


 


[Letterhead of Company]


 


[Insert date]


 


Continental Stock Transfer & Trust Company


One State Street, 30th Floor


New York, New York 10004


Attn: Francis Wolf and Celeste Gonzalez


 


Re: Trust Account No. Termination Letter


 


Mr. Wolf and Ms. Gonzalez:


 


Pursuant to Section ‎1(i)
of the Investment Management Trust Agreement between LIV Capital Acquisition Corp. (the “Company”) and Continental
Stock Transfer & Trust Company (the “Trustee”), dated as of [·],
2019 (the “Trust Agreement”), this is to advise you that the Company has been unable to effect a Business Combination
with a Target Business 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
a segregated account held by you on behalf of the Beneficiaries 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. 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(i) of the Trust Agreement.


 


	 	
        Very truly yours,

         

        LIV Capital Acquisition Corp.

         

	 	By:	 
	 	 	Name:
	 	 	Title:


 





cc: EarlyBirdCapital, Inc.


 




    B-1


     


    


 


EXHIBIT C


 


[Letterhead of Company]


 


[Insert date]


 


Continental Stock Transfer & Trust Company


One State Street, 30th Floor


New York, New York 10004


Attn: Francis Wolf and Celeste Gonzalez


 


Re: Trust Account No. Tax Payment Instruction


 


Mr. Wolf and Ms. Gonzalez:


 


Pursuant to Section ‎1(j)
of the Investment Management Trust Agreement between LIV Capital Acquisition Corp. (the “Company”) and Continental
Stock Transfer & Trust Company (the “Trustee”), dated as of [·],
2019 (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,

         

        LIV Capital Acquisition Corp.

         

	 	By:	 
	 	 	Name:
	 	 	Title:


 


cc: EarlyBirdCapital, Inc.


 




    C-1


     


    


 


EXHIBIT D


 


[Letterhead of Company]


 


[Insert date]


 


Continental Stock Transfer & Trust Company


One State Street, 30th Floor


New York, New York 10004


Attn: Francis Wolf and Celeste Gonzalez


 


Re: Trust Account No. Shareholder Redemption Withdrawal Instruction


 


Mr. Wolf and Ms. Gonzalez:


 


Pursuant to Section ‎1(k)
of the Investment Management Trust Agreement between LIV Capital Acquisition Corp. (the “Company”) and Continental
Stock Transfer & Trust Company (the “Trustee”), dated as of [·],
2019 (the “Trust Agreement”), the Company hereby requests that you deliver to the redeeming Public Shareholders
of the Company $[·] of the principal and interest income earned on the Property
as of the date hereof into a segregated account held by you on behalf of the Beneficiaries for distribution to the Shareholders
who have requested redemption of their Ordinary Shares. Capitalized terms used but not defined herein shall have the meanings set
forth in the Trust Agreement.


 


The Company needs such funds to pay its
Public Shareholders who have properly elected to have their Ordinary Shares redeemed by the Company in connection with a shareholder
vote to approve an amendment to the provisions of the Company’s amended and restated memorandum and articles of association
(i) that would affect the substance or timing of the Company’s obligation to redeem 100% of its public Ordinary Shares if
the Company does not complete its initial Business Combination within the required time period or (ii) with respect to any other
provision relating to shareholders’ rights or pre-initial Business Combination activity. As such, you are hereby directed
and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter.


 


	 	
        Very truly yours,

         

        LIV Capital Acquisition Corp.

         

	 	By:	 
	 	 	Name:
	 	 	Title:


 


cc: EarlyBirdCapital, Inc.


 


 


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