Document:

Exhibit 10.6

 

	 	April
    6, 2017

 

Forum
Merger Corporation 

c/o
Forum Investors I, LLC 

135
East 57th Street, 8th Floor 

New
York, NY 10022

 

EarlyBirdCapital,
Inc. 

366
Madison Avenue 

New
York, New York 10017

 

Re: Initial
Public Offering

 

Gentlemen:

 

This
letter is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
entered into by and between Forum Merger Corporation, a Delaware corporation (the “Company”), and EarlyBirdCapital,
Inc. as representative (the “Representative”) of the several Underwriters named in Schedule I thereto
(the “Underwriters”), relating to an underwritten initial public offering (the “IPO”)
of the Company’s units (the “Units”), each comprised of one share of the Company’s Class
A common stock, par value $0.0001 per share (the “Common Stock”), one right entitling the holder to
one-tenth of one share of Common Stock (each, a “Right”), and one half of one warrant, each whole warrant
exercisable for one share of Common Stock (each, a “Warrant”). Certain capitalized terms used herein
are defined in paragraph 13 hereof.

 

In
order to induce the Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the IPO, and in
recognition of the benefit that such IPO will confer upon the undersigned, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agrees with the Company as follows:

 

1.
If the Company solicits approval of its stockholders of a Business Combination, the undersigned will vote all shares of Common
Stock beneficially owned by him, whether acquired before, in or after the IPO, in favor of such Business Combination.

 

2.
In the event that the Company fails to consummate a Business Combination within the time period set forth in the Company’s
Certificate of Incorporation, as the same may be amended from time to time, the undersigned will, as promptly as possible, cause
the Company to (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible, but not
more than 10 business days thereafter, redeem the Common Stock sold as part of the Units in the IPO (the “Offering Shares”),
at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest
earned on the Trust Account net of interest that may be used by the Company to pay its franchise and income taxes payable and
up to $100,000 of interest that may be released to us to pay dissolution expenses, divided by the number of then outstanding public
shares, which redemption will completely extinguish public stockholders’ rights as stockholders (including the right to
receive further liquidation distributions, if any), and (iii) as promptly as reasonably possible following such redemption, subject
to the approval of the Company’s remaining stockholders and the Company’s board of directors, dissolve and liquidate,
subject in the cases of clauses (ii) and (iii) to the Company’s obligations under Delaware law to provide for claims of
creditors and other requirements of applicable law. The undersigned hereby waives any and all right, title, interest or claim
of any kind the undersigned may have in the future in or to any distribution of the Trust Account and any remaining net assets
of the Company as a result of, or arising out of, any contracts or agreements with the Company and will not seek recourse against
the Trust Account for any reason whatsoever. The undersigned acknowledges and agrees that there will be no distribution from the
Trust Account with respect to any Warrants or Rights, all rights of which will terminate on the Company’s liquidation.

 

    

     

    

 

3.
The undersigned acknowledges and agrees that prior to entering into a Business Combination with a target business that is affiliated
with any Insiders of the Company or their affiliates, such transaction must be approved by a majority of the Company’s disinterested
independent directors and the Company must obtain an opinion from an independent investment banking firm, or another independent
entity that commonly renders valuation opinions on the type of target business the Company is seeking to acquire, that such Business
Combination is fair to the Company’s unaffiliated stockholders from a financial point of view.

 

4.
Neither the undersigned nor any affiliate of the undersigned will be entitled to receive and will not accept any compensation
or other cash payment prior to, or for services rendered in order to effectuate, the consummation of the Business Combination;
provided that the Company shall be allowed to make the payments set forth in the Registration Statement under the caption “Prospectus
Summary – The Offering – Limited payments to insiders.” Notwithstanding the foregoing, the undersigned and any
affiliate of the undersigned shall be entitled to reimbursement from the Company for their out-of-pocket expenses incurred in
connection with identifying, investigating and consummating a Business Combination.

 

5.
Neither the undersigned nor any affiliate of the undersigned will be entitled to receive or accept a finder’s fee or any
other compensation in the event the undersigned, any member of the family of the undersigned or any affiliate of the undersigned
originates a Business Combination.

 

6.
The undersigned will not, without the prior written consent of the Representative pursuant to the Underwriting Agreement, offer,
sell, contract to sell, pledge, hedge, or otherwise dispose of, (or enter into any transaction which is designed to, or might
reasonably be expected to, result in the disposition (whether by actual disposition or effective economic disposition due to cash
settlement or otherwise) by the undersigned or any affiliate of the undersigned or any person in privity with the undersigned
or any affiliate of the undersigned), directly or indirectly, including the filing (or participation in the filing) of a registration
statement with the Securities and Exchange Commission in respect of, or establish or increase a put equivalent position or liquidate
or decrease a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), and the rules and regulations of the Securities and Exchange Commission promulgated
thereunder with respect to, any Units, shares of Common Stock, Warrants of the Company or any securities convertible into, or
exercisable or exchangeable for shares of Common Stock, or publicly announce an intention to effect any such transaction, for
a period of 180 days after the date of the Underwriting Agreement.

 

7.
(a) In order to minimize potential conflicts of interest that may arise from multiple corporate affiliations, the undersigned
hereby agrees that until the earliest of the Company’s initial Business Combination or liquidation, the undersigned shall
present to the Company for its consideration, prior to presentation to any other entity, any target business that has a fair market
value of at least 80% of the assets held in the Trust Account (excluding deferred underwriting commissions and taxes payable on
the income accrued on the Trust Account), subject to any pre-existing fiduciary or contractual obligations the undersigned might
have.

 

(b)
The undersigned has agreed not to participate in the formation of, or become an officer or director of, any blank check company
with a class of securities registered under the Exchange Act until the Company has entered into a definitive agreement regarding
its initial Business Combination or the Company has failed to complete an initial Business Combination within the time period
set forth in the Company’s Certificate of Incorporation as the same may be amended from time to time.

 

(c)
The undersigned hereby agrees and acknowledges that (i) each of the Underwriters and the Company may be irreparably injured in
the event of a breach of any of the obligations contained in this letter, (ii) monetary damages may not be an adequate remedy
for such breach and (iii) the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that
such party may have in law or in equity, in the event of such breach.

 

    2

     

    

 

8.
The undersigned agrees to be an Officer and/or Director of the Company until the earlier of the consummation by the Company of
a Business Combination or the liquidation of the Company. The undersigned’s biographical information previously furnished
to the Company and the Representative is true and accurate in all respects, does not omit any material information with respect
to the undersigned’s background and contains all of the information required to be disclosed pursuant to Item 401 of Regulation
S-K, promulgated under the Securities Act of 1933. The undersigned’s FINRA Questionnaire previously furnished to the Company
and the Representative is true and accurate in all respects. The undersigned represents and warrants that:

 

	 	(a)	he
    is not subject to, or a respondent in, any legal action for, any injunction, cease-and-desist order or order or stipulation
    to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction;

 

	 	(b)	he
    has never been convicted of or pleaded guilty to any crime (i) involving any fraud or (ii) relating to any financial transaction
    or handling of funds of another person, or (iii) pertaining to any dealings in any securities and he is not currently a defendant
    in any such criminal proceeding; and

 

	 	(c)	he
    has never been suspended or expelled from membership in any securities or commodities exchange or association or had a securities
    or commodities license or registration denied, suspended or revoked.

 

9.
The undersigned has full right and power, without violating any agreement by which he is bound, to enter into this letter agreement
and to serve as an Officer and/or Director of the Company.

 

10.
The undersigned hereby waives his right to exercise conversion rights with respect to any shares of the Company’s common
stock owned or to be owned by the undersigned, directly or indirectly, whether such shares are purchased by the undersigned in
the IPO or in the aftermarket, and agrees that he will not seek conversion with respect to such shares in connection with any
vote to approve a Business Combination.

 

11.
The undersigned hereby agrees to not propose, or vote in favor of, an amendment to Article Sixth or Seventh of the Company’s
Amended and Restated Certificate of Incorporation prior to the consummation of a Business Combination unless the Company provides
public stockholders with the opportunity to convert their shares of Common Stock upon such approval in accordance with such Article
Sixth thereof.

 

12.
This letter 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.
The undersigned hereby (i) agrees that any action, proceeding or claim against him arising out of or relating in any way to this
letter agreement (a “Proceeding”) shall be brought and enforced in the courts of the State of New York of the United
States of America for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall
be exclusive, (ii) waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum and
(iii) irrevocably agrees to appoint Ellenoff Grossman & Schole LLP as agent for the service of process in the State of New
York to receive, for the undersigned and on his behalf, service of process in any Proceeding. If for any reason such agent is
unable to act as such, the undersigned will promptly notify the Company and the Representative and appoint a substitute agent
acceptable to each of the Company and the Representative within 30 days and nothing in this letter will affect the right of either
party to serve process in any other manner permitted by law.

 

13.
As used herein, (i) a “Business Combination” shall mean a merger, share exchange, asset acquisition, stock purchase,
recapitalization, reorganization or other similar business combination with one or more businesses or entities; (ii) “Insiders”
shall mean all officers, directors and sponsors of the Company immediately prior to the IPO; and (iii) “Trust Account”
shall mean the trust account into which a portion of the net proceeds of the Company’s IPO will be deposited.

 

14.
This Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter
hereof and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral,
to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement
may not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision,
except by a written instrument executed by all parties hereto.

 

15.
The undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations
and warranties set forth herein in proceeding with the IPO. Nothing contained herein shall be deemed to render the Underwriters
a representative of, or a fiduciary with respect to, the Company, its stockholders or any creditor or vendor of the Company with
respect to the subject matter hereof.

 

16.
This letter agreement shall be binding on the undersigned and such person’s respective successors, heirs, personal representatives
and assigns. This letter agreement shall terminate on the earlier of (i) the consummation of a Business Combination and (ii) the
liquidation of the Company; provided, that such termination shall not relieve the undersigned from liability for any
breach of this agreement prior to its termination.

 

[Signature
Page Follows]

 

    3

     

    

 

	 	Marshall Kiev
	 	Print
    Name of Insider
	 	 
	 	/s/ Marshall Kiev
	 	 Signature
	 	 
	 	Stephen Vogel 
	 	Print Name of Insider
	 	 
	 	/s/ Stephen Vogel 
	 	Signature
	 	 
	 	Jerry Elliott
	 	Print Name of Insider
	 	 
	 	/s/ Jerry Elliott
	 	 Signature
	 	 
	 	Neil Goldberg
	 	Print Name of Insider
	 	 
	 	/s/ Neil Goldberg
	 	 Signature
	 	 
	 	Richard Katzman 
	 	Print Name of Insider
	 	 
	 	/s/ Richard
    Katzman 
	 	Signature
	 	 
	 	Steven Berns
	 	Print Name of Insider
	 	 
	 	/s/ Steven Berns
	 	Signature
	 	 

 

	 	Acknowledged
    and Agreed:
	 	 
	 	Forum
    Merger Corporation

  

	 	By:	/s/ David Boris
	 	 	Name: David Boris
	 	 	Title:   Co-Chief Executive Officer

 

	 	EarlyBirdCapital,
    Inc.
	 	 	 
	 	By:	/s/ Steven Levine
	 	 	Name: Steven Levine
	 	 	Title: CEO

 

[Signature
Page to Insider Letter]

 

    	 	4	 

     

    

 

		David Boris 
	 	Print Name of Insider
	 	 
	 	/s/ David Boris
	 	Signature
	 	 

 

	 	Acknowledged
    and Agreed:
	 	 
	 	Forum
    Merger Corporation

  

	 	By:	/s/ Marshall Kiev
	 	 	Name: Marshall Kiev
	 	 	Title:   Co-Chief Executive Officer

 

	 	EarlyBirdCapital,
    Inc.
	 	 	 
	 	By:	/s/ Steven Levine
	 	 	Name: Steven Levine
	 	 	Title: CEO

 

[Signature
Page to Insider Letter]

 

 

5Exhibit 10.7

 

AMENDED
AND RESTATED UNIT SUBSCRIPTION AGREEMENT

 

This
AMENDED AND RESTATED UNIT SUBSCRIPTION AGREEMENT (this “Agreement”) is made as of the 6th day
of April 2017, by and between Forum Merger Corporation, a Delaware corporation (the “Company”), having its
principal place of business at 135 East 57th Street, 8th Floor, New York, NY 10022, and  Forum
Investors I, LLC, a Delaware limited liability company (the “Subscriber”), having its principal place of business
at 135 East 57th Street, 8th Floor, New York, NY 10022.

 

WHEREAS,
on March 15, 2017, the Company and the Subscriber entered into the Sponsor Unit Subscription Agreement (the “Original
Agreement”), wherein the Purchaser agreed to purchase from the Company on a private placement basis (the “Offering”)
an aggregate of 480,000 units (the “Initial Units”) of the Company, and up to an additional 56,250 units (the
“Additional Units” and together with the Initial Units, the “Units”) of the Company in the
event that the underwriters’ 45-day over-allotment option (“Over-Allotment Option”) is exercised in full
or part, each Unit comprised of one share of Class A common stock of the Company, par value $0.0001 per share (“Common
Stock”), one right (“Right”) to receive one-tenth of one share of Common Stock upon the consummation
of a Business Combination (defined below), to be governed by the Right Agreement (defined herein), and one-half of one warrant,
each whole warrant exercisable to purchase one share of Common Stock (“Warrant”), for a purchase price of $10.00
per Unit. The shares of Common Stock underlying the Rights are hereinafter referred to as the “Right Shares”.  The
shares of Common Stock underlying the Warrants are hereinafter referred to as the “Warrant Shares”.  The
shares of Common Stock underlying the Units (excluding the Right Shares and Warrant Shares) are hereinafter referred to as the
“Placement Shares.” The Rights underlying the Units are hereinafter referred to as the “Placement
Rights.” The Warrants underlying the Units are hereinafter referred to as the “Placement Warrants.”  The
Units, Placement Shares, Placement Rights, Placement Warrants, Right Shares and Warrant Shares, collectively, are hereinafter
referred to as the “Securities.”  Each whole Placement Warrant is exercisable to purchase one full
share of Common Stock at an exercise price of $11.50 during the period commencing on the later of (i) twelve (12) months from
the date of the closing of the Company’s initial public offering of units (the “IPO”) and (ii) 30 days
following the consummation of the Company’s initial business combination (the “Business Combination”),
as such term is defined in the registration statement in connection with the IPO, as amended at the time it becomes effective
(the “Registration Statement”), and expiring on the fifth anniversary of the consummation of the Business Combination;
and

 

WHEREAS,
the Subscriber now wishes to purchase 555,000 Initial Units and up to 67,500 Additional Units, and the Company wishes to accept
such subscription from Subscriber.

 

WHEREAS,
the Company and the Purchaser also desire to amend and restate the Original Agreement and to enter into this Agreement.

 

NOW,
THEREFORE, in consideration of the premises and the mutual covenants hereinafter set forth and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Company and Subscriber hereby agree as follows:

 

1.     Agreement
to Subscribe

 

		1.1.	Purchase
                                         and Issuance of the Units. 

 

		(a)	Upon
                                         the terms and subject to the conditions of this Agreement, the Subscriber hereby agrees
                                         to purchase from the Company, and the Company hereby agrees to sell to the Subscriber,
                                         on the Closing Date (as defined below) the Initial Units in consideration of the payment
                                         of the Initial Purchase Price (as defined below). On the Closing Date, or within a reasonable
                                         time after the Closing Date, but in no event later than thirty (30) days after the Closing
                                         Date, the Company shall deliver to the Subscriber the certificates representing the Securities
                                         purchased.

 

		(b)	Subscriber
                                         hereby agrees to purchase up to an additional 67,500 Additional Units at $10.00 per Additional
                                         Unit for a purchase price of up to $675,000. The purchase and issuance of the Additional
                                         Units shall occur only in the event that the Over-Allotment Option is exercised in full
                                         or in part. The total number of Additional Units to be purchased hereunder shall be in
                                         the same proportion as the proportion of the Over-Allotment Option that is exercised.
                                         Each purchase of Additional Units shall occur simultaneously with the consummation of
                                         any portion of the Over-Allotment Option.

 

     

     

    

  

		1.2.	Purchase
                                         Price.

 

		(a)	As
                                         payment in full for the Initial Units being purchased under this Agreement, the Subscriber
                                         shall pay $5,550,000 (the “Initial Purchase Price”) by wire transfer
                                         of immediately available funds or by such other method as may be reasonably acceptable
                                         to the Company, to the trust account (the “Trust Account”) at
                                         a financial institution to be chosen by the Company, maintained by Continental Stock
                                         Transfer & Trust Company, acting as trustee (“Continental”),
                                         or into an escrow account maintained by Ellenoff Grossman & Schole LLP (“EG&S”), counsel
                                         for the Company, one (1) business day prior to the date of effectiveness of the Registration
                                         Statement.

 

		(b)	As
                                         payment in full for the Additional Units being purchased under this Agreement, the Subscriber
                                         shall pay $10.00 per Additional Unit being purchased by wire transfer of immediately
                                         available funds or by such other method as may be reasonably acceptable to the Company,
                                         to the Trust Account at a financial institution to be chosen by the Company, maintained
                                         by Continental, or into an escrow account maintained by EG&S, one (1) business day
                                         prior to the Closing Date of the Over-Allotment Option. 

        

1.3.   
Closing. The closing of the purchase and sale of the Initial Units shall take place simultaneously with the closing of the IPO
and the closing of the purchase and sale of Additional Units shall take place simultaneously with the closing of the Over-Allotment
Option (each a “Closing Date”). The closing of the purchase and sale of the Units shall take place at the offices
of EG&S, 1345 Avenue of the Americas, 11th Floor, New York, New York, 10105, or such other place as may be
agreed upon by the parties hereto.

 

1.4
     Termination. This Agreement and each of the obligations of the undersigned shall be null and void
and without effect if a Closing does not occur prior to June 30, 2017.

  

2.     Representations
and Warranties of Subscriber

 

Subscriber
represents and warrants to the Company that:

 

2.1.  
 No Government Recommendation or Approval.  Subscriber understands that no federal or state agency has passed upon
or made any recommendation or endorsement of the Company or the Offering of the Securities.

 

2.2.   
Accredited Investor. Subscriber represents that it is an “accredited investor” as such term is defined in Rule 501(a)
of Regulation D under the Securities Act of 1933, as amended (the “Securities Act”), and acknowledges that
the sale contemplated hereby is being made in reliance, among other things, on a private placement exemption to “accredited
investors” under the Securities Act and similar exemptions under state law.

 

2.3.   
Intent.  Subscriber is purchasing the Securities solely for investment purposes, for Subscriber’s own account
(and/or for the account or benefit of its members or affiliates, as permitted, pursuant to the terms of an agreement (the “Insider
Letter”) to be entered into with respect to the Securities between, among others, Subscriber  and the Company,
as described in the Registration Statement), and not with a view to the distribution thereof and Subscriber has no present arrangement
to sell the Securities to or through any person or entity except as may be permitted under the Insider Letter.  Subscriber
shall not engage in hedging transactions with regard to the Securities unless in compliance with the Securities Act.

 

    	 	2	 

     

    

  

2.4.   
Restrictions on Transfer.  Subscriber acknowledges and understands the Units are being offered in a transaction not
involving a public offering in the United States within the meaning of the Securities Act.  The Securities have not
been registered under the Securities Act and, if in the future Subscriber decides to offer, resell, pledge or otherwise transfer
the Securities, such Securities may be offered, resold, pledged or otherwise transferred only (A) pursuant to an effective
registration statement filed under the Securities Act, (B) pursuant to an exemption from registration under Rule 144 promulgated
under the Securities Act, if available, or (C) pursuant to any other available exemption from the registration requirements
of the Securities Act, and in each case in accordance with any applicable securities laws of any state or any other jurisdiction.
Notwithstanding the foregoing, Subscriber acknowledges and understands the Securities are subject to transfer restrictions as
described in Section 8 hereof. Subscriber agrees that if any transfer of its Securities or any interest therein is proposed to
be made, as a condition precedent to any such transfer, Subscriber may be required to deliver to the Company an opinion of counsel
satisfactory to the Company with respect to such transfer. Absent registration or another available exemption from registration,
Subscriber agrees it will not resell the Securities (unless otherwise permitted pursuant to the Insider Letter, as described in
the Registration Statement).  Subscriber further acknowledges that because the Company is a shell company, Rule 144
may not be available to Subscriber for the resale of the Securities until the one year anniversary following consummation of the
initial Business Combination of the Company, despite technical compliance with the requirements of Rule 144 and the release or
waiver of any contractual transfer restrictions.

 

2.5.   
Sophisticated
Investor.

 

(i)  Subscriber
is sophisticated in financial matters and is able to evaluate the risks and benefits of the investment in the Securities.

 

(ii)
Subscriber is aware that an investment in the Securities is highly speculative and subject to substantial risks because, among
other things, the Securities are subject to transfer restrictions and have not been registered under the Securities Act and therefore
cannot be sold unless subsequently registered under the Securities Act or an exemption from such registration is available. Subscriber
is able to bear the economic risk of its investment in the Securities for an indefinite period of time.

 

2.6.   
Independent
Investigation.  Subscriber, in making the decision to purchase the Units, has relied upon an independent investigation
of the Company and has not relied upon any information or representations made by any third parties or upon any oral or written
representations or assurances from the Company, its officers, directors or employees or any other representatives or agents of
the Company, other than as set forth in this Agreement. Subscriber is familiar with the business, operations and financial condition
of the Company and has had an opportunity to ask questions of, and receive answers from the Company’s officers and directors
concerning the Company and the terms and conditions of the offering of the Units and has had full access to such other information
concerning the Company as Subscriber has requested. Subscriber confirms that all documents that it has requested have been made
available and that Subscriber has been supplied with all of the additional information concerning this investment which Subscriber
has requested.

 

2.7   
Organization
and Authority.  Subscriber is duly organized, validly existing and in good standing under the laws of the State of Delaware
and it possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement.

 

2.8.   
Authority.
This Agreement has been validly authorized, executed and delivered by Subscriber and is a valid and binding agreement enforceable
in accordance with its terms, subject to the general principles of equity and to bankruptcy or other laws affecting the enforcement
of creditors’ rights generally.

  

2.9.   
No Conflicts. The execution, delivery and performance of this Agreement and the consummation by Subscriber of the transactions
contemplated hereby do not violate, conflict with or constitute a default under (i) Subscriber's charter documents, (ii) any
agreement or instrument to which Subscriber is a party or (iii) any law, statute, rule or regulation to which Subscriber is subject,
or any agreement, order, judgment or decree to which Subscriber is subject.

 

2.10. 
No Legal Advice from Company.  Subscriber acknowledges it has had the opportunity to review this Agreement and the transactions
contemplated by this Agreement and the other agreements entered into between the parties hereto with Subscriber’s own legal
counsel and investment and tax advisors.  Except for any statements or representations of the Company made in this Agreement
and the other agreements entered into between the parties hereto, Subscriber is relying solely on such counsel and advisors and
not on any statements or representations of the Company or any of its representatives or agents for legal, tax or investment advice
with respect to this investment, the transactions contemplated by this Agreement or the securities laws of any jurisdiction.

 

    	 	3	 

     

    

 

2.11. 
Reliance on Representations and Warranties.  Subscriber understands the Units are being offered and sold to Subscriber
in reliance on exemptions from the registration requirements under the Securities Act, and analogous provisions in the laws and
regulations of various states, and that the Company is relying upon the truth and accuracy of the representations, warranties,
agreements, acknowledgments and understandings of Subscriber set forth in this Agreement in order to determine the applicability
of such provisions.

 

2.12. 
No General Solicitation.  Subscriber is not subscribing for the Units as a result of or subsequent to any general solicitation
or general advertising, including but not limited to any advertisement, article, notice or other communication published in any
newspaper, magazine, or similar media or broadcast over television or radio, or presented at any seminar or meeting or in a registration
statement with respect to the IPO filed with the Securities and Exchange Commission (“SEC”).

 

2.13. 
Legend.  Subscriber acknowledges and agrees the certificates evidencing each of the Securities shall bear a restrictive
legend (the “Legend”), in form and substance substantially as set forth in Section 4 hereof.

 

3.    Representations,
Warranties and Covenants of the Company

 

The
Company represents and warrants to, and agrees with, Subscriber that:

 

3.1.   
Valid Issuance of Capital Stock. The total number of shares of all classes of capital stock which the Company has authority to
issue is 30,000,000 shares of Class A Common Stock, 5,000,000 shares of Class F Common Stock, $0.0001 par value per share (the
“Class F Common Stock”), and 1,000,000 shares of preferred stock, $0.0001 par value per share (“Preferred
Stock”). As of the date hereof, the Company has issued and outstanding 4,312,500 shares of Class F Common Stock (of
which up to 562,500 shares are subject to forfeiture as described in the Registration Statement), no shares of Class A Common
Stock and no shares of Preferred Stock. All of the issued shares of capital stock of the Company have been duly authorized, validly
issued, and are fully paid and non-assessable.

 

3.2    
Title to Securities.  Upon issuance in accordance with, and payment pursuant to, the terms hereof, that certain right
agreement to be entered into with Continental, as rights agent (the “Right Agreement”) and that certain warrant
agreement to be entered into between the Company and Continental, as warrant agent (the “Warrant Agreement”),
as the case may be, each of the Units, Placement Shares, Placement Rights, Placement Warrants, Right Shares and Warrant Shares
will be duly and validly issued, fully paid and non-assessable. On the date of issuance of the Units, the Right Shares and Warrant
Shares shall have been reserved for issuance. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the
Right Agreement and the Warrant Agreement, as the case may be, Subscriber will have or receive good title to the Units, Placement
Shares, Placement Rights and Placement Warrants, free and clear of all liens, claims and encumbrances of any kind, other than
(i) transfer restrictions hereunder and pursuant to the Insider Letter and (ii) transfer restrictions under federal and state
securities laws.

  

3.3.   
Organization and Qualification. The Company is a corporation duly incorporated, validly existing and in good standing under the
laws of the State of Delaware and has the requisite corporate power to own its properties and assets and to carry on its business
as now being conducted.

 

3.4.   
Authorization; Enforcement. (i) The Company has the requisite corporate power and authority to enter into and perform its
obligations under this Agreement and to issue the Securities in accordance with the terms hereof, (ii) the execution, delivery
and performance of this Agreement by the Company and the consummation by it of the transactions contemplated hereby have been
duly authorized by all necessary corporate action, and no further consent or authorization of the Company or its Board of Directors
or stockholders is required, and (iii) this Agreement constitutes valid and binding obligations of the Company enforceable
against the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency,
fraudulent conveyance, moratorium, reorganization, or similar laws relating to, or affecting generally the enforcement of, creditors’
rights and remedies or by equitable principles of general application and except as enforcement of rights to indemnity and contribution
may be limited by federal and state securities laws or principles of public policy.

 

    	 	4	 

     

    

 

3.5.   
No Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions
contemplated hereby do not (i) result in a violation of the Company’s certificate of incorporation or by-laws, (ii) conflict
with, or constitute a default under any agreement or instrument to which the Company is a party or (iii) any law statute, rule
or regulation to which the Company is subject or any agreement, order, judgment or decree to which the Company is subject. Other
than any SEC or state securities filings which may be required to be made by the Company subsequent to the Closing, and any registration
statement which may be filed pursuant thereto, the Company is not required under federal, state or local law, rule or regulation
to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental agency or
self-regulatory entity in order for it to perform any of its obligations under this Agreement or issue the Units, Placement Shares,
Placement Rights, Placement Warrants, Right Shares or Warrant Shares in accordance with the terms hereof.

 

4.     Legends

 

4.1.    Legend.
The Company will issue the Units, Placement Shares, Placement Rights and Placement Warrants, and when issued, the Right Shares
and Warrant Shares, purchased by the Subscriber in the name of the Subscriber. The Securities will bear the following Legend and
appropriate “stop transfer” instructions:

 

“THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”),
OR ANY STATE SECURITIES LAWS AND NEITHER THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR
OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR SUCH LAWS OR AN EXEMPTION
FROM REGISTRATION UNDER THE SECURITIES ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL FOR THIS CORPORATION, IS AVAILABLE.”

 

“THE
SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO LOCKUP PURSUANT TO AN INSIDER LETTER BETWEEN, AMONG OTHERS, FORUM MERGER
CORPORATION AND FORUM INVESTORS I, LLC AND MAY ONLY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE TERM
OF THE LOCKUP PURSUANT TO THE TERMS SET FORTH IN THE INSIDER LETTER.”

  

4.2.   
Subscriber’s Compliance. Nothing in this Section 4 shall affect in any way Subscriber’s obligations and agreements
to comply with all applicable securities laws upon resale of the Securities.

 

4.3.   
Company’s Refusal to Register Transfer of the Securities.  The Company shall refuse to register any transfer of
the Securities, if in the sole judgment of the Company such purported transfer would not be made (i) pursuant to an effective
registration statement filed under the Securities Act, or pursuant to an available exemption from the registration requirements
of the Securities Act and (ii) in compliance herewith and with the Insider Letter.

 

4.4    
Registration Rights.  The Subscriber will be entitled to certain registration rights which will be governed by a registration
rights agreement (“Registration Rights Agreement”) to be entered into between, among others, the Subscriber
and the Company, on or prior to the effective date of the Registration Statement. 

 

5.    Waiver
of Liquidation Distributions.

 

In
connection with the Securities purchased pursuant to this Agreement, Subscriber hereby waives any and all right, title, interest
or claim of any kind in or to any distributions of the amounts in the Trust Account with respect to the Securities, whether (i)
in connection with the exercise of redemption rights if the Company consummates the Business Combination, (ii) in connection with
any tender offer conducted by the Company prior to a Business Combination or (iii) upon the Company’s redemption of shares
of Common Stock sold in the Company’s IPO upon the Company’s failure to timely complete the Business Combination.  In
the event a Subscriber purchases shares of Common Stock in the IPO or in the aftermarket, any additional shares so purchased shall
be eligible to receive the redemption value of such shares of Common Stock upon the same terms offered to all other purchasers
of Common Stock in the IPO in the event the Company fails to consummate the Business Combination.

 

    	 	5	 

     

    

 

6.     Termination
of Placement Rights and Placement Warrants.

 

6.1.   
Failure to Consummate Business Combination. The Placement Rights and Placement Warrants shall be terminated upon the dissolution
of the Company or in the event that the Company does not consummate the Business Combination within 24 months from the consummation
of the IPO, unless otherwise extended by the Corporation.

 

6.2.
    Termination of Rights as Holder. If the Placement Rights and Placement Warrants are terminated in
accordance with Section 6.1, then after such time a Subscriber (or successor in interest) shall no longer have any
rights as a holder of such Placement Rights or Placement Warrants and the Company shall take such action as is appropriate to
cancel such Placement Rights and Placement Warrants. Subscriber hereby irrevocably grants the Company a limited power of
attorney for the purpose of effectuating the foregoing and agrees to take any and all measures reasonably requested by the
Company necessary to effect the foregoing.

 

7.     Rescission
Right Waiver and Indemnification.

 

7.1.   
Subscriber understands and acknowledges an exemption from the registration requirements of the Securities Act requires there be
no general solicitation of purchasers of the Units. In this regard, if the IPO were deemed to be a general solicitation with respect
to the Units, the offer and sale of such Units may not be exempt from registration and, if not, Subscriber may have a right to
rescind its purchase of the Units. In order to facilitate the completion of the Offering and in order to protect the Company,
its stockholders and the amounts in the Trust Account from claims that may adversely affect the Company or the interests of its
stockholders, Subscriber hereby agrees to waive, to the maximum extent permitted by applicable law, any claims, right to sue or
rights in law or arbitration, as the case may be, to seek rescission of its purchase of the Units. Subscriber acknowledges and
agrees this waiver is being made in order to induce the Company to sell the Units to the Subscriber. Subscriber agrees the foregoing
waiver of rescission rights shall apply to any and all known or unknown actions, causes of action, suits, claims or proceedings
(collectively, “Claims”) and related losses, costs, penalties, fees, liabilities and damages, whether compensatory,
consequential or exemplary, and expenses in connection therewith, including reasonable attorneys’ and expert witness fees
and disbursements and all other expenses reasonably incurred in investigating, preparing or defending against any Claims, whether
pending or threatened, in connection with any present or future actual or asserted right to rescind the purchase of the Units
hereunder or relating to the purchase of the Units and the transactions contemplated hereby.

 

7.2.   
Subscriber agrees not to seek recourse against the Trust Account for any reason whatsoever in connection with its purchase of
the Units or any Claim that may arise now or in the future.

 

7.3.   
Subscriber acknowledges and agrees that the stockholders of the Company are and shall be third-party beneficiaries of this Section
7. 

 

7.4.   
Subscriber agrees that to the extent any waiver of rights under this Section 7 is ineffective as a matter of law, Subscriber has
offered such waiver for the benefit of the Company as an equitable right that shall survive any statutory disqualification or
bar that applies to a legal right. Subscriber acknowledges the receipt and sufficiency of consideration received from the Company
hereunder in this regard.

 

8.     Terms
of the Units and Underlying Securities

 

8.1   

The Units and their component parts are substantially identical to the units to be offered in the IPO except that: (i) the Units
and component parts will be subject to transfer restrictions, except in limited circumstances, until 30 days following the consummation
of the Business Combination, (ii) the Placement Warrants will be non-redeemable so long as they are held by the initial holder
thereof (or any of its permitted transferees), and may be exercisable on a “cashless” basis if held by a Subscriber
or its permitted transferees and (iii) the Units and component parts are being purchased pursuant to an exemption from the registration
requirements of the Securities Act and will become freely tradable only after the expiration of the lockup described above in
clause (i) and they are registered pursuant to the Registration Rights Agreement to be signed on or before the date of the Prospectus
or an exemption from registration is available.

 

    	 	6	 

     

    

 

8.2   

Subscriber agrees to vote the Placement Shares in accordance with the terms of the Insider Letter and as otherwise described in
the Registration Statement.

 

9.     Governing
Law; Jurisdiction; Waiver of Jury Trial

 

This
Agreement shall be governed by and construed in accordance with the laws of the State of New York for agreements made and to be
wholly performed within such state. The parties hereto hereby waive any right to a jury trial in connection with any litigation
pursuant to this Agreement and the transactions contemplated hereby.

  

10.   Assignment;
Entire Agreement; Amendment

 

10.1. 
Assignment. Neither this Agreement nor any rights hereunder may be assigned by any party to any other person other than by a Subscriber
to a person agreeing to be bound by the terms hereof, including the waiver contained in Section 7 hereof.

 

10.2. 
Entire Agreement. This Agreement sets forth the entire agreement and understanding between the parties as to the subject matter
thereof and merges and supersedes all prior discussions, agreements and understandings of any and every nature among them.

 

10.3.
 Amendment. Except as expressly provided in this Agreement, neither this Agreement nor any term hereof may be amended, waived,
discharged or terminated other than by a written instrument signed by the party against whom enforcement of any such amendment,
waiver, discharge or termination is sought.

 

10.4. 
Binding upon Successors. This Agreement shall be binding upon and inure to the benefit of the parties hereto and to their respective
heirs, legal representatives, successors and permitted assigns. 

 

11.   Notices

 

11.1  
Notices. Unless otherwise provided herein, any notice or other communication to a party hereunder shall be sufficiently given
if in writing and personally delivered or sent by facsimile or other electronic transmission with copy sent in another manner
herein provided or sent by courier (which for all purposes of this Agreement shall include Federal Express or other recognized
overnight courier) or mailed to said party by certified mail, return receipt requested, at its address provided for herein or
such other address as either may designate for itself in such notice to the other.  Communications shall be deemed to
have been received when delivered personally, on the scheduled arrival date when sent by next day or 2nd-day courier service,
or if sent by facsimile upon receipt of confirmation of transmittal or, if sent by mail, then three days after deposit in the
mail. If given by electronic transmission, such notice shall be deemed to be delivered (a) if by electronic mail, when directed
to an electronic mail address at which the stockholder has consented to receive notice; (b) if by a posting on an electronic
network together with separate notice to the stockholder of such specific posting, upon the later of (1) such posting and
(2) the giving of such separate notice; and (c) if by any other form of electronic transmission, when directed to the
stockholder.

 

12.   Counterparts

 

This
Agreement may be executed in one or more counterparts, all of which when taken together shall be considered one and the same agreement
and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood
that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission
or by e-mail delivery of a “pdf” format data file, such signature shall create a valid and binding obligation of the
party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf”
signature page were an original thereof.

 

13.   Survival;
Severability

 

13.1. 
Survival. The representations, warranties, covenants and agreements of the parties hereto shall survive each Closing Date.

 

13.2.
Severability. In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction to
be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision; provided that
no such severability shall be effective if it materially changes the economic benefit of this Agreement to any party.

 

14.   Headings.

 

The
titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting
this Agreement.

 

[remainder
of page intentionally left blank]

 

    	 	7	 

     

    

 

This
subscription is accepted by the Company on the 6th day of April, 2017.

  

	 	FORUM MERGER CORPORATION
	 	 	 
	 	By:	/s/
David Boris
	 	Name:	David Boris
	 	Title:	Chief Financial Officer

 

Accepted
and agreed on the date hereof

  

	 	
        

        FORUM INVESTORS I, LLC

        By: Forum Capital Management LLC, its 

        Managing Member

	 	 	 
	 	By:	/s/
David Boris
	 	Name:	David Boris
	 	Title:	Managing Member

 

 

8

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