Document:

Exhibit 10.3

 

FORM OF SUBSCRIPTION AGREEMENT

 

This SUBSCRIPTION AGREEMENT (this “Subscription
Agreement”) is entered into on July 25, 2022, by and between Ventoux CCM Acquisition Corp., a Delaware corporation (the “Company”),
and the undersigned subscriber (“Subscriber”).

 

WHEREAS, on November 10, 2021, the Company entered
into a definitive agreement with E la Carte, Inc., a Delaware corporation (“Presto”), and the other parties thereto
(as subsequently amended), providing for the combination of the Company and Presto (as amended, the “Transaction Agreement”
and the transactions contemplated by the Transaction Agreement, the “Transaction”);

 

WHEREAS, in connection with the Transaction, Subscriber
desires to subscribe for and purchase from the Company, immediately prior to the consummation of the Transaction, that number of shares
of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), set forth on the signature page
hereto (the “Subscribed Shares”) for a purchase price of $10.00 per share (the “Per Share Price”
and the aggregate of such Per Share Price for all Subscribed Shares being referred to herein as the “Purchase Price”),
and the Company desires to issue and sell to Subscriber the Subscribed Shares in consideration of the payment of the Purchase Price by
or on behalf of Subscriber to the Company; and

 

WHEREAS, substantially concurrently with the execution
of the Transaction Agreement or prior to the closing date of the Transaction (the “Closing Date”), the Company entered
into or will enter into subscription agreements (the “Other Subscription Agreements” and together with this Subscription
Agreement, the “Subscription Agreements”) with certain other accredited investors (the “Other Subscribers”
and together with Subscriber, the “Subscribers”), which are on substantially the same terms as the terms of this Subscription
Agreement (other than with respect to (t) the amounts, price and types of the Company’s securities to be subscribed for and purchased
by the Other Subscribers and any terms relating to such other types of the Company’s securities, (u) certain fees payable by Presto
to and certain board observer rights granted to Silver Rock Contingent Credit Fund LP, Silver Rock Tactical Allocation Fund LP, Lake Vineyard
Fund LP and Silver Rock Empire Fund LP and their affiliates (collectively, “Silver Rock”), (v) the purchase of Common
Stock from the Sponsors (as defined herein), (w) certain rights to nominate a member of the Company’s board of directors after and
contingent upon the Closing, (x) certain closing conditions in the Other Subscription Agreements relating to the Notes (as defined below)
and certain representations related to the payment of expenses in the Transaction, (y) (i) any rights or benefits granted to an Other
Subscriber in connection with such Other Subscriber’s compliance with any law, regulation or policy specifically applicable to such
Other Subscriber or in connection with the taxable status of an Other Subscriber and (ii) any rights with respect to the confidentiality
or disclosure of an Other Subscriber’s identity and (z) certain registration rights), pursuant to which such investors shall agree
or have agreed to purchase on the Closing Date, as applicable (i) shares of Common Stock, at the Per Share Price and (ii) the Company’s
convertible senior notes due 2026 (the “Notes”) and related warrants (the “Warrants”) to purchase
shares of Common Stock (together with the Subscribed Shares, the “Aggregate Subscribed Securities”); and

 

WHEREAS, William Blair & Company, L.L.C. (“William
Blair”), Truist Securities, Inc. (“Truist”) and Chardan Capital Markets, LLC (“Chardan”)
are acting as placement agents to the Company in connection with the issuance and sale of Common Stock to Other Subscribers.

 

NOW, THEREFORE, in consideration of the foregoing
and the mutual representations, warranties and covenants, and subject to the conditions, herein contained, and intending to be legally
bound hereby, the parties hereto hereby agree as follows:

 

1. Subscription. Subject
to the terms and conditions hereof, at the Closing (as defined below), Subscriber hereby agrees to subscribe for and purchase, and the
Company hereby agrees to issue and sell to Subscriber, upon the payment of the Purchase Price, the Subscribed Shares (such subscription
and issuance, the “Subscription”).

 

2. Closing.

 

a. Subject to
the terms of this Subscription Agreement, the consummation of the Subscription contemplated hereby (the “Closing”)
shall occur on the Closing Date immediately prior to or substantially concurrently with the consummation of the Transaction.

 

     

     

    

 

b. At least five
(5) Business Days before the anticipated Closing Date, the Company shall deliver written notice to Subscriber (the “Closing Notice”)
specifying (i) the anticipated Closing Date and (ii) the wire instructions for delivery of the Purchase Price to the Company. No later
than two (2) Business Days after receiving the Closing Notice, Subscriber shall deliver to the Company such information as is reasonably
requested in the Closing Notice in order for the Company to issue the Subscribed Shares to Subscriber. Subscriber shall deliver to the
Company, no later than one (1) Business Day prior to the Closing Date as set forth in the Closing Notice, (a) the Purchase Price for the
Subscribed Shares by wire transfer of United States dollars in immediately available funds to the account specified by the Company in
the Closing Notice, such funds to be held by the Company in escrow until the Closing and (b) such information as is reasonably requested
in the Closing Notice in order for the Company to issue the Subscribed Shares to Subscriber at the Closing.  Upon satisfaction
(or, if applicable, waiver) of the conditions set forth in this Section 2, the Company shall deliver to Subscriber (i) at the Closing,
the Subscribed Shares in book entry form, free and clear of any liens or other restrictions (other than those arising under this Subscription
Agreement or applicable state or federal securities laws), in the name of Subscriber (or its nominee in accordance with its delivery instructions)
or to a custodian designated by Subscriber, as applicable, and (ii) written notice from the Company or its transfer agent evidencing the
issuance to Subscriber of the Subscribed Shares on and as of the Closing Date. In the event that the consummation of the Transaction does
not occur within two (2) Business Days after the anticipated Closing Date specified in the Closing Notice, unless otherwise agreed to
in writing by the Company and Subscriber, the Company shall promptly (but in no event later than one (1) Business Day thereafter) return
the funds so delivered by Subscriber to the Company by wire transfer in immediately available funds to the account specified by Subscriber
and any book entries shall be deemed cancelled. Subscriber shall not be required to deliver to the Company on more than two (2) occasions,
the Purchase Price pursuant to a Closing Notice. Notwithstanding such return or cancellation, a failure to close on the anticipated Closing
Date shall not, by itself, be deemed to be a failure of any of the conditions to Closing set forth in this Section 2 to be satisfied
or waived on or prior to the Closing Date. For the purposes of this Subscription Agreement, “Business Day” means any day other
than a Saturday, Sunday or a day on which the Federal Reserve Bank of New York is closed.

 

c. The Closing
shall be subject to the satisfaction or valid waiver in writing by each of the parties hereto (to the extent a valid waiver is capable
of being issued) by the Company, on the one hand, or Subscriber, on the other, of the conditions that, on the Closing Date:

 

(i)  no
suspension of the qualification of the Common Stock for offering or sale or trading in any jurisdiction, or initiation or threatening
of any proceedings for any of such purposes, shall have occurred and the Subscribed Shares shall have been approved for listing on The
Nasdaq Stock Market LLC (“NASDAQ”), subject to official notice of issuance;

 

(ii)  all
conditions precedent to the closing of the Transaction set forth in the Transaction Agreement, including the approval of the Company’s
stockholders, shall have been satisfied or waived, and the closing of the Transaction shall be scheduled to occur concurrently with or
immediately following the Closing; and

 

(iii)   no
governmental authority shall have enacted, issued, promulgated, enforced or entered any judgment, order, law, rule or regulation (whether
temporary, preliminary or permanent) which is then in effect and has the effect of making consummation of the transactions contemplated
hereby illegal or otherwise restraining or prohibiting consummation of the transactions contemplated hereby (except in the case of a governmental
authority located outside the United States where such judgment, order, law, rule or regulation would not be reasonably expected to have
a Company Material Adverse Effect (as defined below)); and no such governmental authority shall have instituted or threatened in writing
a proceeding seeking to impose any such restraint or prohibition (except in the case of a governmental authority located outside the United
States where such restraint or prohibition would not be reasonably expected to have a Company Material Adverse Effect).

 

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d. The obligation
of the Company to consummate the Closing shall be subject to the satisfaction or valid waiver in writing by the Company of the additional
conditions that, on the Closing Date:

 

(i)  all
representations and warranties of Subscriber contained in this Subscription Agreement are true and correct in all material respects (other
than (x) those representations and warranties expressly made as of an earlier date, which shall be true and correct in all material respects
as of such date, and (y) representations and warranties that are qualified as to materiality or Subscriber Material Adverse Effect (as
defined below), which representations and warranties shall be true in all respects) at and as of the Closing Date; and

 

(ii)  Subscriber
shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by this Subscription
Agreement to be performed, satisfied or complied with by it at or prior to the Closing, except where the failure of such performance or
compliance would not reasonably be expected to prevent, materially delay or materially impair the ability of the Company to consummate
the Closing.

 

e. The obligation
of Subscriber to consummate the Closing shall be subject to the satisfaction or valid waiver by Subscriber of the additional conditions
that, on the Closing Date:

 

(i)  all
representations and warranties of the Company contained in this Subscription Agreement are true and correct in all material respects (other
than (x) those representations and warranties expressly made as of an earlier date, which shall be true and correct in all material respects
as of such date, and (y) representations and warranties that are qualified as to materiality or Company Material Adverse Effect (as defined
below), which representations and warranties shall be true in all respects) at and as of the Closing Date;

 

(ii) the
Company shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by
this Subscription Agreement to be performed, satisfied or complied with by it at or prior to the Closing;

 

(iii) there
shall have been no amendment, waiver or modification to the Transaction Agreement after the date hereof that materially and adversely
affects the Company or the economic benefits that Subscriber would reasonably expect to receive under this Subscription Agreement without
having received Subscriber’s prior written consent;

 

(iv) the
Company shall not have entered into any Other Subscription Agreement relating to Common Stock with a lower Per Share Price or other terms
(economic or otherwise) more favorable to such Other Subscriber than as set forth in this Subscription Agreement, other than with respect
to (a) the amounts, price and types of the Company’s securities to be subscribed for and purchased by the Other Subscribers and
any terms relating to such other types of the Company’s securities, (b) certain fees payable by Presto to and certain board observer
rights granted to Silver Rock, (c) the purchase of Common Stock from the Sponsors, (d) certain rights to nominate a member of the Company’s
board of directors after and contingent upon the Closing, (e) certain closing conditions in the Other Subscription Agreements relating
to the Notes and certain representations related to the payment of expenses in the Transaction, (f) (i) any rights or benefits granted
to an Other Subscriber in connection with such Other Subscriber’s compliance with any law, regulation or policy specifically applicable
to such Other Subscriber or in connection with the taxable status of an Other Subscriber and (ii) any rights with respect to the confidentiality
or disclosure of an Other Subscriber’s identity and (g) certain registration rights;

 

(v) there
has not occurred a Company Material Adverse Effect; and

 

(vi) the Company shall not have received any
consideration from any Other Subscriber that is not otherwise contemplated in such Other Subscription Agreement as in effect as of
the date hereof in order to, directly or indirectly, induce the Company or any Subsidiary (i) to treat such Other Subscriber in a
manner that is more favorable than the Subscriber, or (ii) to treat the Subscriber in a manner that is less favorable than any Other
Subscriber; provided, however, that the determination of whether the Subscriber has been treated more or less
favorably than any Other Subscriber shall disregard any other securities (other than the Subscribed Shares) of the Company purchased
by the Subscriber or Other Subscriber, respectively.

 

f. Prior
to or at the Closing, Subscriber shall deliver to the Company a duly completed and executed Internal Revenue Service Form W-9 or appropriate
Form W-8.

 

g. For the avoidance
of doubt, the Closing shall not be subject to Company’s consummation of the transactions pursuant to the Other Subscription Agreements.

 

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3. Company
Representations and Warranties. The Company represents and warrants to Subscriber that:

 

a. The Company
(i) is duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation; (ii) has the requisite
power and authority to own, lease and operate its properties, to carry on its business as it is now being conducted and to enter into,
deliver and perform its obligations under this Subscription Agreement; and (iii) is duly licensed or qualified to conduct its business
and, if applicable, is in good standing under the laws of each jurisdiction (other than its jurisdiction of incorporation) in which the
conduct of its business or the ownership of its properties or assets requires such license or qualification, except, with respect to the
foregoing clause (iii), where the failure to be in good standing would not reasonably be expected to have a Company Material Adverse Effect.
For purposes of this Subscription Agreement, a “Company Material Adverse Effect” means an event, change, development,
occurrence, condition or effect with respect to the Company and its subsidiaries, taken together as a whole (on a consolidated basis),
that, individually or in the aggregate, (A) would reasonably be expected to have a material adverse effect on the business, financial
condition or results of operations of the Company and its subsidiaries, taken together as a whole (on a consolidated basis) or (B) would
prevent, materially delay or materially impede the performance by the Company or its subsidiaries of their respective obligations under
this Subscription Agreement, including the sale of the Subscribed Shares, the Transaction Agreement or the consummation of the Transaction.

 

b. As of the
Closing Date, the Subscribed Shares will be duly authorized and, when issued and delivered to Subscriber against full payment therefor
in accordance with the terms of this Subscription Agreement, will be validly issued and will constitute legal, valid and binding obligations
of the Company, enforceable against the Company in accordance with their terms, except that the enforcement thereof may be subject to
applicable bankruptcy, insolvency or similar laws affecting creditors’ rights generally or by equitable principles relating to enforceability
(collectively, the “Enforceability Exceptions”), and will not have been issued in violation of any preemptive rights
created under the Company’s organizational documents or the laws of the State of Delaware.

 

c. This Subscription
Agreement has been duly authorized, executed and delivered by the Company, and assuming the due authorization, execution and delivery
of the same by Subscriber, this Subscription Agreement shall constitute the valid and legally binding obligation of the Company, enforceable
against the Company in accordance with its terms, except that the enforcement thereof may be subject to the Enforceability Exceptions.

 

d. The execution
and delivery of this Subscription Agreement, the issuance and sale of the Subscribed Shares and the compliance by the Company with all
of the provisions of this Subscription Agreement and the consummation of the transactions contemplated herein will not conflict with or
result in a breach or violation of any of the terms or provisions of, or constitute a default under, or result in the creation or imposition
of any lien, charge or encumbrance upon any of the property or assets of the Company pursuant to the terms of (i) any indenture, mortgage,
deed of trust, loan agreement, lease, license or other agreement or instrument to which the Company is a party or by which the Company
is bound or to which any of the property or assets of the Company is subject; (ii) the organizational documents of the Company; or (iii)
any statute or any judgment, order, rule or regulation of any court or governmental agency or body, domestic or foreign, having jurisdiction
over the Company or any of its properties that, in the case of clauses (i) and (iii), would reasonably be expected to have a Company Material
Adverse Effect or have a material adverse effect on the Company’s ability to consummate the transactions contemplated hereby, including
the issuance and sale of the Subscribed Shares.

 

e. Assuming the accuracy of the
representations and warranties of Subscriber, the Company is not required to obtain any consent, waiver, authorization or order of,
give any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental
authority, self-regulatory organization (including the Nasdaq Stock Market) or other person in connection with the execution,
delivery and performance of this Subscription Agreement (including, without limitation, the issuance of the Subscribed Shares),
other than (i) filings required by applicable state securities laws; (ii) the filing of a shelf registration statement pursuant to Section
6 below; (iii) the filing of a Notice of Exempt Offering of Securities on Form D with the United States Securities and Exchange
Commission (“Commission”) under Regulation D of the Securities Act of 1933, as amended (the “Securities
Act”), if applicable; (iv) those required by the Nasdaq Stock Market, including with respect to obtaining shareholder
approval; (v) those required to consummate the Transaction as provided under the Transaction Agreement; (vi) the filing of
notification under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, if applicable; (vii) such as have been or will have
been obtained, made or given on or prior to the Closing Date, and (viii) the failure of which to obtain would not be reasonably
likely to have a Company Material Adverse Effect or have a material adverse effect on the Company’s ability to consummate the
transactions contemplated hereby, including the issuance and sale of the Subscribed Shares.

 

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f.  As of
their respective dates, all reports required to be filed by the Company with the Commission (the “SEC Reports”) complied
in all material respects with the requirements of the Securities Act and the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), and the rules and regulations of the Commission promulgated thereunder, and none of the SEC Reports, when filed, contained
any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make
the statements therein, in the light of the circumstances under which they were made, not misleading. The financial statements of the
Company included in the SEC Reports comply in all material respects with applicable accounting requirements and the rules and regulations
of the Commission with respect thereto as in effect at the time of filing and fairly present in all material respects the financial position
of the Company as of and for the dates thereof and the results of operations and cash flows for the periods then ended, subject, in the
case of unaudited statements, to normal, year-end audit adjustments. The description of the business and financial information of Presto
set forth in the presentation dated April 2022 (the “Investor Presentation”) made available to the undersigned prior
to the execution of this Subscription Agreement, and as amended through the Closing Date, shall be consistent in all material respects
with the description of the business and financial information of Presto described or included in the definitive proxy statement of the
Company filed in connection with the approval of the Transaction by the stockholders of the Company. Notwithstanding the foregoing, with
respect to the proxy statement/prospectus filed or to be filed by the Company with respect to the Transactions or any other information
relating to the Transactions or to Presto or any of its affiliates included in any SEC Report or filed as an exhibit thereto, the representation
and warranty in this sentence is made to the Company’s knowledge.

 

g. As of the date hereof
and as of immediately prior to the Closing, the authorized share capital of the Company consists of 50,000,000 shares of Common
stock and 1,000,000 preferred shares, par value $0.0001 per share (“Preferred Shares”). As of the Closing Date
(and immediately after the consummation of the Transaction), the authorized share capital of the Company will consist of 180,000,000
shares of Common Stock and 1,500,000 Preferred Shares. As of the date hereof and as of immediately prior to the Closing: (i)
1,255,018 shares of Common Stock (excluding shares of Common Stock that are owned by the Sponsors and other insiders of the Company
(the “Founder Shares”)), 4,312,500 Founder Shares and no Preferred Shares were issued and outstanding; (ii)
17,250,000 public warrants, each exercisable to purchase one-half of one share of Common Stock at $11.50 per full share and
6,675,000 private placement warrants, (including 900,000 private placement warrants that will be cancelled at the Closing Date) each
exercisable to purchase one share of Common Stock at $11.50 per full share (together “Warrants”), were issued and
outstanding; (iii) 17,250,000 rights, each right entitling the holder to receive one-twentieth of one share of common stock upon the
consummation of the Transaction; and (iv) no Common Stock was subject to issuance upon exercise of outstanding options. As of the
date hereof, the Company has no outstanding long-term indebtedness for borrowed money that is or would be required to be recognized
as a long-term liability in accordance with generally accepted accounting principles (other than fees payable under the business
combination marketing agreement entered into in connection with its initial public offering and/or warrant liability accounting
treatment of the Company’s private placement warrants and/or public warrants) and will not have any long-term indebtedness for
borrowed money that is or would be required to be recognized as a long-term liability in accordance with generally accepted
accounting principles immediately prior to and as of the Closing (other than indebtedness disclosed in the SEC Reports or the
Company’s registration statement on Form S-4 (No. 333-263516), as amended, prior to the Closing Date) and all outstanding
convertible promissory notes heretofore issued by Presto will have been converted into Common Stock pursuant to the terms of the
Transaction Agreement as of the Closing. Immediately following the Closing, (i) 2,689,187 Founder Shares (including 90,000 Founder
Shares not held by the Sponsors) and 6,675,000 private placement warrants (including 900,000 private placement warrants that will be
cancelled at the Closing Date) will be fully vested, (ii) 444,500433,250 Founder Shares are subject to vesting pursuant to the
vesting provisions set forth in that certain Amended and Restated Sponsors Support Agreement dated July 25, 2022 and (iii) the
public warrants will have an exercise price $8.21. No Warrants are exercisable on or prior to the Closing. All (i) issued and
outstanding Common Stock has been duly authorized and validly issued, is fully paid and non-assessable and is not subject to
preemptive rights and (ii) outstanding Warrants have been duly authorized and validly issued, are fully paid and are not subject to
preemptive rights. As of the date hereof, except as set forth above and pursuant to (i) this Agreement, (ii) the Other Subscription
Agreements, (iii) the Transaction Agreement, or (iv) any agreement(s) that the Company may enter into with third parties for the
purpose of recapturing or reducing the shares of Common Stock redeemed by public shareholders, (such agreement(s), the
“Forward Purchase Agreement”), there are no outstanding options, warrants or other rights to subscribe for,
purchase or acquire from the Company any Common Stock or other equity interests in the Company (collectively, “Equity
Interests”) or securities convertible into or exchangeable or exercisable for Equity Interests. As of the date hereof, the
Company has no subsidiaries and does not own, directly or indirectly, interests or investments (whether equity or debt) in any
person, whether incorporated or unincorporated. There are no stockholder agreements, voting trusts or other agreements or
understandings to which the Company is a party or by which it is bound relating to the voting of any Equity Interests, other than
(A) the letter agreements entered into by the Company in connection with the Company’s initial public offering on December 30,
2020 pursuant to which the Company’s sponsor and the Company’s executive officers and independent directors agreed to
vote in favor of any proposed Business Combination (as defined therein), which includes the Transaction, (B) as contemplated by the
Transaction Agreement and (C) the Forward Purchase Agreement. With the exception of the Warrants, there are no securities or
instruments issued by or to which the Company is a party containing anti-dilution or similar provisions that will be triggered by
the issuance of (i) the Subscribed Shares or (ii) the securities to be issued pursuant to any Other Subscription Agreement.
Subscriber understands and acknowledges the Sponsors may from time to time enter into various agreements relating to the transfer of
the Founder Shares and private placement warrants in furtherance of the Transaction, and that such agreements shall not be in
violation of this Subscription Agreement so long as the aggregate number of outstanding Founder Shares or private placement warrants
do not increase, the Sponsors shall promptly notify Subscriber if the aggregate number of Founder Shares or private placement
warrants decrease as a result of such agreements.

 

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h. Except for
such matters as have not had and would not be reasonably likely to have a Company Material Adverse Effect or have a material adverse effect
on the Company’s ability to consummate the transactions contemplated hereby, including the issuance and sale of the Subscribed Shares,
as of the date hereof, there is no (i) suit, action, investigation, proceeding or arbitration before a governmental authority or arbitrator
pending, or, to the knowledge of the Company, threatened in writing against the Company or any of its directors or officers in their capacities
as such or (ii) judgment, decree, injunction, ruling or order of any governmental authority or arbitrator outstanding against the
Company or any of its directors or officers in their capacities as such.

 

i.  The
issued and outstanding shares of Common Stock are registered pursuant to Section 12(b) of Exchange Act, and are listed for trading on
the Nasdaq Stock Market under the symbol “VTAQ.” There is no suit, action, proceeding or investigation pending or, to the
knowledge of the Company, threatened against the Company by the Nasdaq Stock Market or the Commission with respect to any intention by
such entity to deregister the shares of Common Stock or prohibit or terminate the listing of the shares of Common Stock on the Nasdaq
Stock Market. The Company has taken no action that is designed to terminate the registration of the shares of Common Stock under the Exchange
Act. The Company has filed a listing application with NASDAQ for the Subscribed Shares and such application has been, or prior to Closing
will be, approved by NASDAQ.

 

j.  Upon
consummation of the Transaction, the issued and outstanding shares of Common Stock will be registered pursuant to Section 12(b) of the
Exchange Act and will be listed for trading on the Nasdaq Stock Market.

 

k. Assuming the
accuracy of Subscriber’s representations and warranties set forth in Section 4 of this Subscription Agreement, no registration
under the Securities Act is required for the offer and sale of the Subscribed Shares by the Company to Subscriber.

 

l.  No broker
or finder is entitled to any brokerage or finder’s fee or commission solely in connection with the sale of the Subscribed Shares
to Subscriber.

 

m.  Except for such
matters as have not had and would not be reasonably likely to have a Company Material Adverse Effect or have a material adverse
effect on the Company’s ability to consummate the transactions contemplated hereby, including the issuance and sale of the
Subscribed Shares, the Company is, and has been since its inception, in compliance with all laws applicable to the conduct of the
business of the Company. The Company has not received any written, or to its knowledge, other communication from a governmental
entity that alleges that the Company is not in compliance with or is in default or violation of any applicable law, except where
such noncompliance, default or violation would not be reasonably expected to have, individually or in the aggregate, a Company
Material Adverse Effect.

 

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n. The Company
has not in the past nor will it hereafter take any action to sell, offer for sale or solicit offers to buy any securities of the Company
that could result in the initial sale of the Subscribed Shares not being exempt from the registration requirements of Section 5 of the
Securities Act.

 

o. The Company
has all franchises, permits, licenses and any similar authority necessary for the conduct of its business as now being conducted by it,
the lack of which would have a material adverse effect, and to the Company’s knowledge, the Company is not in default in any material
respect under any of such franchises, permits, licenses or other authority.

 

p. There is no
action, suit, proceeding or investigation pending or, to the Company’s knowledge, currently threatened in writing against the Company
that questions the validity of this Agreement or the right of the Company to enter into this Agreement, or to consummate the transactions
contemplated thereby, or that might result, if determined adversely to the Company, in a material adverse effect, or in any material change
in the current equity ownership of the Company.

 

q. To the Company’s
knowledge, the Company owns or possesses sufficient legal rights to all (a) patents, patent applications and inventions; (b) trademarks,
service marks, trade names, trade dress, logos, domain names or corporate names and registrations and applications for registration thereof,
together with all of the goodwill associated therewith; (c) copyrights (registered or unregistered) and copyrightable works and registrations
and applications for registrations thereof; (d) computer software, data, and databases and documentation thereof; (e) trade secrets and
other confidential information; and (f) licenses, information and proprietary rights and processes necessary for its business as now conducted.
The Company has not received any written communications alleging that the Company has violated or, by conducting its business as proposed,
would violate any of the patents, trademarks, service marks, trade names, copyrights or trade secrets or other proprietary rights of any
other person or entity.

 

r.  The
Company has not entered into any subscription agreement, side letter or similar agreement with any investor in connection with such investor’s
direct or indirect investment in the Company other than (i) the Transaction Agreement, (ii) any agreement or arrangement contemplated
by the Transaction Agreement, which for the avoidance of doubt, includes the Forward Purchase Agreement, (iii) as disclosed in the Company’s
filings with the Commission and (iv) the Other Subscription Agreements. The Other Subscription Agreements reflect terms with respect to
the purchase of the Notes that are no more favorable to such subscriber thereunder than the terms of this Subscription Agreement other
than such Other Subscription Agreements containing any of the following: (t) the amounts, prices and types of the Company’s securities
to be subscribed for and purchased by the Other Subscribers and any terms relating to such other types of the Company’s securities,
(u) certain fees payable by Presto to and certain board observer rights granted to Silver Rock, (v) the purchase of Common Stock from
the Sponsors, (w) certain rights to nominate a member of the Company’s board of directors after and contingent upon the Closing,
(x) certain closing conditions in the Other Subscription Agreements relating to the Notes and certain representations related to the payment
of expenses in the Transaction, (y) (i) any rights or benefits granted to an Other Subscriber in connection with such Other Subscriber’s
compliance with any law, regulation or policy specifically applicable to such Other Subscriber or in connection with the taxable status
of an Other Subscriber and (ii) any rights with respect to the confidentiality or disclosure of an Other Subscriber’s identity and
(z) certain registration rights.

 

4. Subscriber
Representations and Warranties. Subscriber represents and warrants to the Company that:

 

a. Subscriber
(i) is duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation, and (ii) has the requisite
power and authority to enter into and perform its obligations under this Subscription Agreement.

 

b. This Subscription
Agreement has been duly executed and delivered by Subscriber, and assuming the due authorization, execution and delivery of the same by
the Company, this Subscription Agreement shall constitute the valid and legally binding obligation of Subscriber, enforceable against
Subscriber in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium
and similar laws affecting creditors generally and by the availability of equitable remedies.

 

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c. The execution
and delivery of this Subscription Agreement, the purchase of the Subscribed Shares and the compliance by Subscriber with all of the provisions
of this Subscription Agreement and the consummation of the transactions contemplated herein will not conflict with or result in a breach
or violation of any of the terms or provisions of, or constitute a default under, or result in the creation or imposition of any lien,
charge or encumbrance upon any of the property or assets of Subscriber pursuant to the terms of (i) any indenture, mortgage, deed of trust,
loan agreement, lease, license or other agreement or instrument to which Subscriber is a party or by which Subscriber is bound or to which
any of the property or assets of Subscriber is subject; (ii) the organizational documents of Subscriber; or (iii) any statute or any judgment,
order, rule or regulation of any court or governmental agency or body, domestic or foreign, having jurisdiction over Subscriber or any
of its properties that, in the case of clauses (i) and (iii), would reasonably be expected to have a Subscriber Material Adverse Effect.
For purposes of this Subscription Agreement, a “Subscriber Material Adverse Effect” means an event, change, development,
occurrence, condition or effect with respect to Subscriber that would reasonably be expected to have a material adverse effect on Subscriber’s
ability to consummate the transactions contemplated hereby, including the purchase of the Subscribed Shares.

 

d. Subscriber
is an “accredited investor” (within the meaning of Rule 501 under the Securities Act) satisfying the applicable requirements
set forth on Annex A; (ii) is acquiring the Subscribed Shares only for its own account and not for the account of others, or if Subscriber
is subscribing for the Subscribed Shares as a fiduciary or agent for one or more investor accounts, each owner of such account is an “accredited
investor” (within the meaning of Rule 501 under the Securities Act) and Subscriber has full investment discretion with respect to
each such account, and the full power and authority to make the acknowledgements, representations and agreements herein on behalf of each
owner of each such account, and (iii) is not acquiring the Subscribed Shares with a view to, or for offer or sale in connection with,
any distribution thereof in violation of the Securities Act (and has provided the Company with the requested information on Annex A following
the signature page hereto). Subscriber has provided to the Company prior to the date of this Subscription Agreement true and correct copies
of such documents that verify its status as an “accredited investor,” which documents may include, but are not limited to,
bank statements, brokerage statements, Form W-2s, Form 1040s, Form 1099s, Schedule K-1 to Form 1065, and any other documents that the
Company may reasonably request, in each case, for the years ended December 31, 2020 and December 31, 2021, respectively.

 

e. Subscriber
understands that the Subscribed Shares are being offered in a transaction not involving any public offering within the meaning of the
Securities Act and that the Subscribed Shares have not been registered under the Securities Act. Subscriber understands that the Subscribed
Shares may not be offered, resold, transferred, pledged or otherwise disposed of by Subscriber absent an effective registration statement
under the Securities Act, except (i) to the Company or a subsidiary thereof, or (ii) pursuant to an applicable exemption from the registration
requirements of the Securities Act, and, in each of cases (i) and (ii), in accordance with any applicable securities laws of the applicable
states and other jurisdictions of the United States, and as a result of these transfer restrictions, Subscriber may not be able to readily
resell the Subscribed Shares and may be required to bear the financial risk of an investment in the Subscribed Shares for an indefinite
period of time. Subscriber acknowledges and agrees that the Subscribed Shares will not be eligible for offer, resale, transfer, pledge
or disposition pursuant to Rule 144 promulgated under the Securities Act (“Rule 144”) until at least one year from
the Closing Date. Subscriber understands that it has been advised to consult legal counsel prior to making any offer, resale, pledge or
transfer of any of the Subscribed Shares.

 

f.  Each
book entry for the Subscribed Shares shall contain a notation, and each certificate (if any) evidencing the Subscribed Shares shall be
stamped or otherwise imprinted with a legend, in substantially the following form:

 

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE
WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER:

 

(1) REPRESENTS THAT IT IS
AN “accredited investor” (within the meaning of Rule 501 under the Securities Act) AND (2) AGREES FOR THE BENEFIT
OF (THE “COMPANY”) THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS SECURITY OR ANY BENEFICIAL
INTEREST HEREIN PRIOR TO THE DATE THAT IS THE LATER OF (X) ONE YEAR AFTER THE LAST ORIGINAL ISSUE DATE HEREOF OR SUCH SHORTER PERIOD
OF TIME AS PERMITTED BY RULE 144 UNDER THE SECURITIES ACT OR ANY SUCCESSOR PROVISION THERETO AND (Y) SUCH LATER DATE, IF ANY, AS MAY
BE REQUIRED BY APPLICABLE LAW, EXCEPT:

 

(A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, OR

 

    8

     

    

 

(B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BECOME EFFECTIVE
UNDER THE SECURITIES ACT AND IS EFFECTIVE AT THE TIME OF SUCH TRANSFER, OR

 

(C) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144
UNDER THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.

 

PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH CLAUSE
(2)(C) ABOVE, THE COMPANY AND THE TRANSFER AGENT RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER
EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES
ACT AND APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT.

 

THE SECURITIES REPRESENTED HEREBY ARE ALSO SUBJECT TO A LOCK-UP PERIOD
AS SET FORTH IN THE SUBSCRIPTION AGREEMENT, DATED AS OF JULY 25, 2022, THE TERMS OF WHICH MAY BE OBTAINED UPON WRITTEN REQUEST OF THE
SECRETARY OF THE COMPANY. SUCH LOCK-UP PERIOD IS BINDING ON TRANSFEREES OF THESE SECURITIES.

 

g. Subscriber
understands and agrees that Subscriber is purchasing the Subscribed Shares directly from the Company. Subscriber further acknowledges
that there have not been, and Subscriber hereby agrees that it is not relying on, any representations, warranties, covenants or agreements
made to Subscriber by the Company, any other party to the Transaction or any other person or entity, expressly or by implication, other
than those representations, warranties, covenants and agreements of the Company set forth in this Subscription Agreement. Subscriber acknowledges
that certain information provided by the Company was based on projections, and such projections were prepared based on assumptions and
estimates that are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and
uncertainties that could cause actual results to differ materially from those contained in the projections.

 

h. Subscriber
agrees that none of the William Blair, Truist or Chardan, nor any of their respective affiliates or any of their or their respective affiliates’
control persons, officers, directors or employees, shall be liable to Subscriber pursuant to this Subscription Agreement. On behalf of
itself and its affiliates, Subscriber releases each of William Blair, Truist or Chardan in respect of any losses, claims, damages, obligations,
penalties, judgments, awards, liabilities, costs, expenses or disbursements related to this Subscription Agreement or the transactions
contemplated hereby.

 

i.  In making its decision to purchase
the Subscribed Shares, Subscriber has relied solely upon independent investigation made by Subscriber and upon the representations,
warranties and covenants set forth herein. Subscriber acknowledges and agrees that Subscriber has received such information as
Subscriber deems necessary in order to make an investment decision with respect to the Subscribed Shares, including with respect to
the Company and the Transaction (including Presto and their respective subsidiaries (collectively, the “Acquired
Companies”)). Subscriber represents and agrees that Subscriber and Subscriber’s professional advisor(s), if any,
have had the full opportunity to ask such questions, receive such answers and obtain such information as Subscriber and such
undersigned’s professional advisor(s), if any, have deemed necessary to make an investment decision with respect to the
Subscribed Shares. Subscriber acknowledges and agrees that none of William Blair, Truist or Chardan, nor any respective affiliates
of William Blair, Truist or Chardan have provided Subscriber with any information or advice with respect to the Subscribed Shares
nor is such information or advice necessary or desired. None of William Blair, Truist or Chardan nor any of their respective
affiliates have made or make any representation as to the Company or the Acquired Companies or the quality or value of the
Subscribed Shares. Each of William Blair, Truist or Chardan has acting solely as a placement agent to the Company with respect to
the Other Subscription Agreements and is not acting as an underwriter or in any other capacity or as a fiduciary for the Company or
any other person or entity in connection with the Transaction and none of William Blair, Truist or Chardan or any of their
respective affiliates has prepared any disclosure or offering document in connection with the offer and sale of the Subscribed
Shares. Subscriber acknowledges that William Blair, Truist or Chardan and their respective directors, officers, employees,
representatives and controlling persons have made no independent investigation with respect to the Company or the Subscribed Shares
or the accuracy, completeness or adequacy of any information supplied to Subscriber by the Company.

 

    9

     

    

 

j. Subscriber
agrees and acknowledges that (i) as of the date hereof, Subscriber has had no contact, whether oral or in writing, with any of William
Blair, Truist or Chardan with respect to the Transaction, including this Subscription Agreement and (ii) the Company represents and warrants
that the Subscribed Shares are not being offered in a manner involving a public offering under, or in a distribution in violation of,
the Securities Act, or any state securities laws.

 

k. Subscriber
acknowledges that it is aware that there are substantial risks incident to the purchase and ownership of the Subscribed Shares. Subscriber
has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of an investment
in the Subscribed Shares, and Subscriber has had an opportunity to seek, and has sought, such accounting, legal, business and tax advice
as Subscriber has considered necessary to make an informed investment decision.

 

l. Subscriber
has adequately analyzed and fully considered the risks of an investment in the Subscribed Shares and determined that the Subscribed Shares
are a suitable investment for Subscriber and that Subscriber is able at this time and in the foreseeable future to bear the economic risk
of a total loss of Subscriber’s investment in the Company. Subscriber acknowledges specifically that a possibility of total loss
exists.

 

m. Subscriber understands
and agrees that no federal or state agency has passed upon or endorsed the merits of the offering of the Subscribed Shares or made any
findings or determination as to the fairness of this investment.

 

n. Subscriber
is not (i) a person or entity named on the List of Specially Designated Nationals and Blocked Persons administered by the U.S. Treasury
Department’s Office of Foreign Assets Control (“OFAC”) or in any Executive Order issued by the President of the
United States and administered by OFAC (“OFAC List”), or a person or entity prohibited by any OFAC sanctions program;
(ii) a Designated National as defined in the Cuban Assets Control Regulations, 31 C.F.R. Part 515; or (iii) a non-U.S. shell bank or providing
banking services indirectly to a non-U.S. shell bank (collectively, a “Prohibited Investor”). Subscriber agrees to
provide law enforcement agencies, if requested thereby, such records as required by applicable law, provided that Subscriber is permitted
to do so under applicable law. Subscriber represents that if it is a financial institution subject to the Bank Secrecy Act (31 U.S.C.
Section 5311 et seq.), as amended by the USA PATRIOT Act of 2001 and its implementing regulations (collectively, the “BSA/PATRIOT
Act”), that Subscriber maintains policies and procedures reasonably designed to comply with applicable obligations under the
BSA/PATRIOT Act. Subscriber also represents that, to the extent required, it maintains policies and procedures reasonably designed for
the screening of its investors against the OFAC sanctions programs, including the OFAC List. Subscriber further represents and warrants
that, to the extent required, it maintains policies and procedures reasonably designed to ensure that the funds held by Subscriber and
used to purchase the Subscribed Shares were legally derived.

 

o. As of the
date hereof, and during the 30-day period immediately prior to the date hereof Subscriber has not entered into, any “put equivalent
position” as such term is defined in Rule 16a-1 under the Exchange Act or short sale positions with respect to the securities of
the Company. Notwithstanding the foregoing, in the case of a Subscriber that is a multi-managed investment vehicle whereby separate portfolio
managers manage separate portions of such Subscriber’s assets and the portfolio managers have no direct knowledge of the investment
decisions made by the portfolio managers managing other portions of such Subscriber’s assets, the representation set forth above
shall only apply with respect to the portion of assets managed by the portfolio manager that made the investment decision to purchase
the Subscribed Shares covered by this Agreement.

 

    10

     

    

 

p. If Subscriber is an employee benefit plan
that is subject to Title I of ERISA, a plan, an individual retirement account or other arrangement that is subject to section 4975
of the Code or an employee benefit plan that is a governmental plan (as defined in section 3(32) of ERISA), a church plan (as
defined in section 3(33) of ERISA), a non-U.S. plan (as described in section 4(b)(4) of ERISA) or other plan that is not subject to
the foregoing but may be subject to provisions under any other federal, state, local, non-U.S. or other laws or regulations that are
similar to such provisions of ERISA or the Internal Revenue Code of 1986, as amended, or an entity whose underlying assets are
considered to include “plan assets” of any such plan, account or arrangement (each, a “Plan”) subject
to the fiduciary or prohibited transaction provisions of ERISA or section 4975 of the Code, Subscriber represents and warrants that
neither the Company, nor any of its respective affiliates (the “Transaction Parties”) has acted as the
Plan’s fiduciary, or has been relied on for advice, with respect to its decision to acquire and hold the Subscribed Shares,
and none of the Transaction Parties shall at any time be relied upon as the Plan’s fiduciary with respect to any decision to
acquire, continue to hold or transfer the Subscribed Shares and none of the acquisition, holding and/or transfer or disposition of
the Subscribed Shares will result in a non-exempt prohibited Transactions under ERISA or Section 4975 of the Code or any similar law
or regulation.

 

q. Subscriber
at the Closing will have sufficient funds to pay the Purchase Price pursuant to Section 2(a).

 

r. Subscriber
acknowledges and understands that the Subscribed Shares are, and following the Closing will be, subject to Transfer Restrictions. For
purposes of this Section 4(r), the term “Transfer Restrictions” means a condition to or restriction on the ability
of the undersigned to pledge, sell, assign or otherwise transfer the Subscribed Shares under any organizational document, policy or agreement
of, by or with the Company, including the restrictions on transfer described in Section 4(e) of this Subscription Agreement with
respect to the status of the Subscribed Shares as “restricted securities” pending their registration for resale under the
Securities Act, and described in Section 5 of this Subscription Agreement with respect to an eighteen (18) month lock-up, in accordance
with the terms of this Subscription Agreement.

 

5. Restriction
on Transfer of Subscribed Shares.    Until the date that is eighteen (18) months after the Closing Date, the Subscriber
shall not be permitted to, voluntarily or involuntarily, sell, assign, transfer (including by operation of law), create any lien or pledge,
dispose of or otherwise encumber any of the Subscribed Shares or otherwise agree to do any of the foregoing, (b) deposit any of such shares
of Common Stock into a voting trust or enter into a voting agreement or arrangement or grant any proxy or power of attorney with respect
thereto that is inconsistent with this Agreement (c) enter into any contract, option or other arrangement or undertaking requiring the
direct acquisition or sale, assignment, transfer or other disposition of any such shares of Common Stock, or (d) make any public announcement
of any intention to take any of the foregoing actions, in each case, without the prior written consent of the Company; provided,
that any transfer to an affiliate of the Subscriber that complies with the terms hereof shall not require such consent of the Company.
Notwithstanding anything to the contrary contained herein, each transferee of such shares of Common Stock shall, on or prior to the date
of this Agreement or (if later) the date that it first acquires any such shares of Common Stock, deliver to the Company a valid and duly
completed IRS Form W-9 (and, for the avoidance of doubt, at all times during which a person is holder of such Common Stock, such person
shall (i) have delivered to the Company such a valid and duly completed IRS Form W-9; and (ii) be eligible to deliver a valid and duly
completed IRS Form W-9 to the Company).

 

    11

     

    

 

6. Registration
of Subscribed Shares.

 

a. The Company agrees that, within thirty (30)
days after the Closing Date, the Company will file with the SEC (at the Company’s sole cost and expense) a registration
statement registering the resale of the Subscribed Shares (the “Registration Statement”), and the Company shall
use its commercially reasonable efforts to have the Registration Statement declared effective upon the Closing, but no later than
sixty (60) calendar days following the Closing Date (the “Effectiveness Deadline”), provided, that the
Effectiveness Deadline shall be extended to ninety (90) calendar days after the Closing Date if the Registration Statement is
reviewed by, and receives comments from, the SEC. The Company will provide a draft of the Registration Statement to the undersigned
for review at least two (2) business days in advance of filing the Registration Statement. In no event shall the undersigned be
identified as a statutory underwriter in the Registration Statement unless requested by the SEC. Notwithstanding the foregoing, if
the SEC prevents the Company from including any or all of the shares proposed to be registered under the Registration Statement due
to limitations on the use of Rule 415 of the Securities Act for the resale of the Subscribed Shares by the applicable stockholders
or otherwise, such Registration Statement shall register for resale such number of Subscribed Shares which is equal to the maximum
number of Subscribed Shares as is permitted by the SEC. In such event, the number of Subscribed Shares to be registered for each
selling stockholder named in the Registration Statement shall be reduced pro rata among all such selling stockholders. The
Company agrees that the Company will cause such Registration Statement to remain effective until the earlier of (i) two years
from the issuance of the Subscribed Shares, (ii) the date on which all of the Subscribed Shares shall have been sold, or (iii) on
the first date on which the undersigned can sell all of its Subscribed Shares (or shares received in exchange therefor) under Rule
144 of the Securities Act without limitation as to the manner of sale or the amount of such securities that may be sold. For as long
as the Registration Statement shall remain effective pursuant to the immediately preceding sentence, the Company will use its
reasonable best efforts to file all reports, and will provide all customary and reasonable cooperation, necessary to enable the
undersigned to resell the Subscribed Shares pursuant to the Registration Statement or Rule 144 of the Securities Act, as applicable,
qualify the Subscribed Shares for listing on the applicable stock exchange, update or amend the Registration Statement as necessary
to include the Subscribed Shares and provide customary notice to holders of Subscribed Shares. The undersigned agrees to disclose
its beneficial ownership, as determined in accordance with Rule 13d-3 of the Securities Exchange Act of 1934 (as amended, the
“Exchange Act”), of Subscribed Shares to the Company (or its successor) upon request to assist the Company in
making the determination described above. The Company’s obligations to include the Subscribed Shares in the Registration
Statement are contingent upon the undersigned furnishing in writing to the Company such information regarding the undersigned, the
securities of the Company held by the undersigned and the intended method of disposition of the Subscribed Shares as shall be
reasonably requested by the Company to effect the registration of the Subscribed Shares, and shall execute such documents in
connection with such registration as the Company may reasonably request that are customary of a selling stockholder in similar
situations. Subscriber shall not be entitled to use the Registration Statement for an underwritten offering of Subscribed Shares.
The Company may delay filing or suspend the use of any such registration statement if it determines that in order for the
registration statement to not contain a material misstatement or omission, an amendment thereto would be needed, or if such filing
or use could materially affect a bona fide business or financing transaction of the Company or would require premature disclosure of
information that could materially adversely affect the Company (each such circumstance, a “Suspension Event”); provided,
that, (i) the Company shall not so delay filing or so suspend the use of the Registration Statement for a period of more than sixty
(60) consecutive days or more than two (2) times in any three hundred sixty (360) day period and (ii) the Company shall use
commercially reasonable efforts to make such registration statement available for the sale by the undersigned of such securities as
soon as practicable thereafter. Upon receipt of any written notice from the Company (which notice shall not contain any material
non-public information regarding the Company) of the happening of any Suspension Event during the period that the Registration
Statement is effective or if as a result of a Suspension Event the Registration Statement or related prospectus contains any untrue
statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements
therein, in light of the circumstances under which they were made (in the case of the prospectus) not misleading, the undersigned
agrees that (i) it will immediately discontinue offers and sales of the Subscribed Shares under the Registration Statement
(excluding, for the avoidance of doubt, sales conducted pursuant to Rule 144) until the undersigned receives copies of a
supplemental or amended prospectus (which the Company agrees to promptly prepare) that corrects the misstatement(s) or omission(s)
referred to above and receives notice that any post-effective amendment has become effective or unless otherwise notified by the
Company that it may resume such offers and sales, and (ii) it will maintain the confidentiality of any information included in such
written notice delivered by the Company unless otherwise required by law or subpoena. If so directed by the Company, the undersigned
will deliver to the Company or, in the undersigned’s sole discretion, destroy all copies of the prospectus covering the
Subscribed Shares in the undersigned’s possession; provided, however, that this obligation to deliver or destroy
all copies of the prospectus covering the Subscribed Shares shall not apply (i) to the extent the undersigned is required to retain
a copy of such prospectus (a) in order to comply with applicable legal, regulatory, self-regulatory or professional requirements or
(b) in accordance with a bona fide pre-existing document retention policy or (ii) to copies stored electronically on archival
servers as a result of automatic data back-up.

 

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b. The Company shall, notwithstanding any
termination of this Subscription Agreement, indemnify, defend and hold harmless the undersigned (to the extent a seller under the
Registration Statement), the officers, directors, agents, partners, members, managers, stockholders, affiliates, employees and
investment advisers of the undersigned, each person who controls the undersigned (within the meaning of Section 15 of the Securities
Act or Section 20 of the Exchange Act) and the officers, directors, partners, members, managers, stockholders, agents, affiliates,
employees and investment advisers of each such controlling person, to the fullest extent permitted by applicable law, from and
against any and all losses, claims, damages, liabilities, costs (including, without limitation, reasonable attorneys’ fees)
and expenses (collectively, “Losses”) that arise out of or are based upon (i) any untrue or alleged untrue
statement of a material fact contained (or incorporated by reference) in the Registration Statement, any prospectus included in the
Registration Statement or any form of prospectus or in any amendment or supplement thereto or in any preliminary prospectus, or
arising out of or relating to any omission or alleged omission to state a material fact required to be stated therein or necessary
to make the statements therein (in the case of any prospectus or form of prospectus or supplement thereto, in light of the
circumstances under which they were made) not misleading, or (ii) any violation or alleged violation by the Company of the
Securities Act, the Exchange Act or any state securities law or any rule or regulation thereunder, in connection with the
performance of its obligations under this Section 5, except to the extent, but only to the extent, that such untrue
statements, alleged untrue statements, omissions or alleged omissions are based upon information regarding the undersigned furnished
in writing to the Company by the undersigned expressly for use therein. The Company shall notify the undersigned promptly of the
institution, threat or assertion of any proceeding arising from or in connection with the transactions contemplated by this Section
5 of which the Company is aware. Such indemnity shall remain in full force and effect regardless of any investigation made by or
on behalf of an indemnified party and shall survive the transfer of the Subscribed Shares by the undersigned. Notwithstanding the
forgoing, the Company’s indemnification obligations shall not apply to amounts paid in settlement of any Losses or action if
such settlement is effected without the prior written consent of the Company (which consent shall not be unreasonably withheld or
delayed), nor shall the Company be liable for any Losses to the extent they arise out of or are based upon a violation which occurs
(A) in connection with any failure of such person to deliver or cause to be delivered a prospectus made available by the Company in
a timely manner or (B) in connection with any offers or sales effected by or on behalf of the undersigned in violation of this
Agreement.

 

c. The undersigned
shall, severally and not jointly with any other subscriber in the offering, indemnify and hold harmless the Company, its directors, officers,
agents and employees, each person who controls the Company (within the meaning of Section 15 of the Securities Act and Section 20 of the
Exchange Act), and the directors, officers, agents or employees of such controlling persons, to the fullest extent permitted by applicable
law, from and against all Losses arising out of or based upon any untrue or alleged untrue statement of a material fact contained in any
Registration Statement, any prospectus included in the Registration Statement, or any form of prospectus, or in any amendment or supplement
thereto or in any preliminary prospectus, or arising out of or relating to any omission or alleged omission of a material fact required
to be stated therein or necessary to make the statements therein (in the case of any prospectus, or any form of prospectus or supplement
thereto, in light of the circumstances under which they were made) not misleading to the extent, but only to the extent, that such untrue
statements or omissions are based upon information regarding the undersigned furnished in writing to the Company by the undersigned expressly
for use therein. In no event shall the liability of the undersigned be greater in amount than the dollar amount of the net proceeds received
by the undersigned upon the sale of the Subscribed Shares giving rise to such indemnification obligation. Notwithstanding the forgoing,
the undersigned’s indemnification obligations shall not apply to amounts paid in settlement of any Losses or action if such settlement
is effected without the prior written consent of the undersigned (which consent shall not be unreasonably withheld or delayed).

 

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7. Termination.    This
Subscription Agreement shall terminate and be void and of no further force and effect, and all rights and obligations of the parties hereunder
shall terminate without any further liability on the part of any party in respect thereof, upon the earlier to occur of (a) such date
and time as the Transaction Agreement is terminated in accordance with its terms; (b) upon the mutual written agreement of the Company
and Subscriber to terminate this Subscription Agreement; (c) if, on the Closing Date of the Transaction, any of the conditions to Closing
set forth in Section 2 of this Subscription Agreement have not been satisfied as of the time required hereunder to be so satisfied
or waived (to the extent a valid waiver is capable of being issued) by the party entitled to grant such waiver and, as a result thereof,
the transactions contemplated by this Subscription Agreement are not consummated; or (d) the “Termination Date” as defined
in the Transaction Agreement (as such Termination Date may be amended or extended from time to time) (the “Termination Date”);
provided, that nothing herein will relieve any party from liability for any willful breach hereof prior to the time of termination,
and each party will be entitled to any remedies at law or in equity to recover losses, liabilities or damages arising from such breach.
The Company shall notify Subscriber of the termination of the Transaction Agreement promptly after the termination thereof.

 

8. Trust Account
Waiver.    Subscriber hereby acknowledges that the Company has established a trust account (the
“Trust Account”) containing the proceeds of its initial public offering (the “IPO”) and from
certain private placements occurring simultaneously with the IPO (including interest accrued from time to time thereon) for the
benefit of the Company’s public stockholders and certain other parties (including the underwriters of the IPO). For and in
consideration of the Company entering into this Subscription Agreement, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, Subscriber hereby (i) agrees that it does not now and shall not at any time
hereafter have any right, title, interest or claim of any kind in or to any assets held in the Trust Account, and shall not make any
claim against the Trust Account, regardless of whether such claim arises as a result of, in connection with or relating in any way
to this Subscription Agreement or any other matter, and regardless of whether such claim arises based on contract, tort, equity or
any other theory of legal liability (any and all such claims are collectively referred to hereafter as the “Released
Claims”); (ii) irrevocably waives any Released Claims that it may have against the Trust Account now or in the future as a
result of, or arising out of, any negotiations, contracts or agreements with the Company; and (iii) will not seek recourse against
the Trust Account for any reason whatsoever; provided however, that nothing in this Section 8 shall be deemed to limit
(x) any Subscriber’s right to distributions from the Trust Account in accordance with the Company’s amended and restated
certificate of incorporation in respect of any redemptions by Subscriber of its shares of public Common Stock of the Company
acquired by any means other than pursuant to this Subscription Agreement or (y) any Subscriber’s recourse against assets held
outside of the Trust Account or held by the post-Closing combined entity. Subscriber acknowledges and agrees that it shall not have
any redemption rights with respect to the Subscribed Shares pursuant to the Company’s organizational documents in connection
with the Transaction or any other business combination, any subsequent liquidation of the Trust Account, the Company or
otherwise.

 

9. Miscellaneous.

 

a. All notices,
requests, demands, claims, and other communications hereunder shall be in writing. Any notice, request, demand, claim, or other communication
hereunder shall be deemed duly given (i) when delivered personally to the recipient; (ii) when sent by electronic mail, on the date of
transmission to such recipient; provided, that such notice, request, demand, claim or other communication is also sent to the recipient
pursuant to clauses (i), (iii) or (iv) of this Section 9(a); (iii) one Business Day after being sent to the recipient by reputable
overnight courier service (charges prepaid), or (iv) four (4) Business Days after being mailed to the recipient by certified or registered
mail, return receipt requested and postage prepaid, and, in each case, addressed to the intended recipient at its address specified on
the signature page hereof or to such electronic mail address or address as subsequently modified by written notice given in accordance
with this Section 9(a).

 

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b. Subscriber
acknowledges that the Company and others will rely on the acknowledgments, understandings, agreements, representations and warranties
contained in this Subscription Agreement. Prior to the Closing, Subscriber agrees to promptly notify the Company if it becomes aware that
any of the acknowledgments, understandings, agreements, representations and warranties of Subscriber set forth herein are no longer accurate
in all material respects. The Company acknowledges that Subscriber and others will rely on the acknowledgments, understandings, agreements,
representations and warranties contained in this Subscription Agreement. Prior to the Closing, the Company agrees to promptly notify Subscriber
if it becomes aware that any of the acknowledgments, understandings, agreements, representations and warranties of the Company set forth
herein are no longer accurate in all material respects.

 

c. Each of the
Company and Subscriber is irrevocably authorized to produce this Subscription Agreement or a copy hereof to any interested party in any
administrative or legal proceeding or official inquiry with respect to the matters covered hereby.

 

d. Subscriber
shall pay all of its own expenses in connection with this Subscription Agreement and the transactions contemplated herein.

 

e. Neither this
Subscription Agreement nor any rights that may accrue to Subscriber hereunder (other than the Subscribed Shares acquired hereunder, if
any) may be transferred or assigned. Neither this Subscription Agreement nor any rights that may accrue to the Company hereunder may be
transferred or assigned (provided, that, for the avoidance of doubt, the Company may transfer the Subscription Agreement and its
rights hereunder solely in connection with the consummation of the Transaction and exclusively to another entity under the control of,
or under common control with, the Company). Notwithstanding the foregoing, Subscriber may assign its rights and obligations under this
Subscription Agreement to one or more of its affiliates (including other investment funds or accounts managed or advised by the investment
manager who acts on behalf of Subscriber) or, with the Company’s prior written consent, to another person, provided that
no such assignment shall relieve Subscriber of its obligations hereunder if any such assignee fails to perform such obligations, unless
the Company has given its prior written consent to such relief.

 

f. All
the agreements, representations and warranties made by each party hereto in this Subscription Agreement shall survive the Closing.

 

g. The Company
may request from Subscriber such additional information as the Company may deem necessary to evaluate the eligibility of Subscriber to
acquire the Subscribed Shares, and Subscriber shall provide such information as may be reasonably requested, to the extent readily available
and to the extent consistent with its internal policies and procedures.

 

h. This Subscription
Agreement may not be amended, modified, waived or terminated except by an instrument in writing, signed by the party against whom enforcement
of such modification, waiver, or termination is sought; provided, that, this Subscription Agreement may be amended, modified, waived
or terminated with the written consent of the Company and Subscribers then holding a majority of the Aggregate Subscribed Securities then
committed to be purchased at the Closing by (or, if after the Closing, then held by) all Subscribers (the “Required Subscribers”).
Upon the effectuation of such waiver, modification, amendment or termination with the consent of the Required Subscribers in conformance
with this Section 9(h), such amendment, modification, waiver or termination shall be binding on all Subscribers and effective as
to all of the Subscription Agreements. The Company shall promptly give written notice thereof to Subscriber if Subscriber has not previously
consented to such amendment, modification, waiver or termination in writing; provided that the failure to give such notice shall
not affect the validity of such amendment, modification, waiver or termination. Notwithstanding anything to the contrary herein, (i) no
amendment, modification or waiver shall be effective against any Subscriber unless such amendment, modification or waiver applies to all
Subscribers equally; (ii) any amendment, modification or waiver that has a disproportionate effect on a Subscriber (considered apart from
any disproportionate effect owing to the number of Subscribed Shares held by such Subscriber), shall require the consent of such Subscriber;
(iii) any amendment to Section 3(j), Section 6, or Section 7 (to amend the definition of Termination Date) or this
Section 9(h) of this Subscription Agreement; and (iv) any amendment, modification or other change that alters the Per Share Price,
the Purchase Price, or the number of Subscribed Shares shall require the consent of the undersigned Subscriber.

 

    15

     

    

 

 

 

i. This
Subscription Agreement constitutes the entire agreement, and supersedes all other prior agreements, understandings, representations and
warranties, both written and oral, among the parties, with respect to the subject matter hereof.

 

j. Except
as otherwise provided herein, this Subscription Agreement shall be binding upon, and inure to the benefit of the parties hereto and their
heirs, executors, administrators, successors, legal representatives, and permitted assigns, and the agreements, representations, warranties,
covenants and acknowledgments contained herein shall be deemed to be made by, and be binding upon, such heirs, executors, administrators,
successors, legal representatives and permitted assigns.

 

k. If any provision
of this Subscription Agreement shall be invalid, illegal or unenforceable, the validity, legality or enforceability of the remaining provisions
of this Subscription Agreement shall not in any way be affected or impaired thereby and shall continue in full force and effect.

 

l. This
Subscription Agreement may be executed and delivered in one or more counterparts (including by facsimile or electronic mail or in .pdf)
and by different parties in separate counterparts, with the same effect as if all parties hereto had signed the same document. All counterparts
so executed and delivered shall be construed together and shall constitute one and the same agreement.

 

m. This Subscription
Agreement is intended for the benefit of the parties hereto and their respective successors and permitted assigns and is not for the benefit
of, nor may any provision hereof be enforced by, any other person.

 

n. The parties
hereto agree that irreparable damage would occur in the event that any of the provisions of this Subscription Agreement were not performed
in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties shall be entitled to seek
an injunction or injunctions to prevent breaches of this Subscription Agreement and to enforce specifically the terms and provisions of
this Subscription Agreement, this being in addition to any other remedy to which such party is entitled at law, in equity, in contract,
in tort or otherwise.

 

o. This Subscription Agreement shall be governed
by, and construed in accordance with, the laws of the State of Delaware, without regard to the principles of conflicts of laws that would
otherwise require the application of the law of any other state.

 

p. EACH PARTY
HEREBY WAIVES ITS RESPECTIVE RIGHTS TO A TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OR RELATED TO THIS SUBSCRIPTION
AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY IN ANY ACTION, PROCEEDING OR OTHER LITIGATION OF ANY TYPE BROUGHT BY ANY PARTY AGAINST
ANY OTHER PARTY OR ANY AFFILIATE OF ANY OTHER SUCH PARTY, WHETHER WITH RESPECT TO CONTRACT CLAIMS, TORT CLAIMS OR OTHERWISE. THE PARTIES
AGREE THAT ANY SUCH CLAIM OR CAUSE OF ACTION SHALL BE TRIED BY A COURT TRIAL WITHOUT A JURY. WITHOUT LIMITING THE FOREGOING, THE PARTIES
FURTHER AGREE THAT THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY IS WAIVED BY OPERATION OF THIS SECTION AS TO ANY ACTION, COUNTERCLAIM OR
OTHER PROCEEDING WHICH SEEKS, IN WHOLE OR IN PART, TO CHALLENGE THE VALIDITY OR ENFORCEABILITY OF THIS SUBSCRIPTION AGREEMENT OR ANY PROVISION
HEREOF. THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS SUBSCRIPTION AGREEMENT.

 

    16

     

    

 

q. The parties
agree that all disputes, legal actions, suits and proceedings arising out of or relating to this Subscription Agreement must be brought
exclusively in the Court of Chancery of the State of Delaware and any state appellate court therefrom within the State of Delaware (or,
if the Court of Chancery of the State of Delaware declines to accept jurisdiction over a particular matter, any federal court within the
State of Delaware or, in the event each federal court within the State of Delaware declines to accept jurisdiction over a particular matter,
any state court within the State of Delaware) (collectively the “Designated Courts”). Each party hereby consents and
submits to the exclusive jurisdiction of the Designated Courts. No legal action, suit or proceeding with respect to this subscription
agreement may be brought in any other forum. Each party hereby irrevocably waives all claims of immunity from jurisdiction and any objection
which such party may now or hereafter have to the laying of venue of any suit, action or proceeding in any Designated Court, including
any right to object on the basis that any dispute, action, suit or proceeding brought in the Designated Courts has been brought in an
improper or inconvenient forum or venue. Each of the parties also agrees that delivery of any process, summons, notice or document to
a party hereof in compliance with Section 9(a) of this Subscription Agreement shall be effective service of process for any action,
suit or proceeding in a Designated Court with respect to any matters to which the parties have submitted to jurisdiction as set forth
above.

 

r. This
Subscription Agreement may only be enforced against, and any claim, action, suit or other legal proceeding based upon, arising out of,
or related to this Subscription Agreement, or the negotiation, execution or performance of this Subscription Agreement, may only be brought
against the entities that are expressly named as parties hereto and then only with respect to the specific obligations set forth herein
with respect to such party. No past, present or future director, officer, employee, incorporator, manager, member, partner, stockholder,
affiliate, agent, attorney or other representative of any party hereto or of any affiliate of any party hereto, or any of their successors
or permitted assigns, shall have any liability for any obligations or liabilities of any party hereto under this Subscription Agreement
or for any claim, action, suit or other legal proceeding based on, in respect of or by reason of the transactions contemplated hereby.

 

s. The Company shall, by 9:00 a.m., New York City
time, on the first (1st) business day immediately following the date of this Subscription Agreement, issue one or more press
releases or file with the Commission a Current Report on Form 8-K (collectively, the “Disclosure Document”) disclosing,
to the extent not previously publicly disclosed, all material terms of the transactions contemplated hereby and any other material, nonpublic
information that the Company has provided to Subscriber at any time prior to the filing of the Disclosure Document. From and after the
issuance of the Disclosure Document, Subscriber shall not be in possession of any material, non-public information received from the
Company or any of its officers, directors or employees. Notwithstanding the foregoing, the Company shall not publicly disclose the name
of Subscriber or any affiliate or investment adviser of Subscriber, or include the name of Subscriber or any affiliate or investment
adviser of Subscriber in any press release or in any filing with the Commission or any regulatory agency or trading market, without the
prior written consent (including by e-mail) of Subscriber, except as required by the federal securities laws, rules or regulations and
to the extent such disclosure is required by other laws, rules or regulations, at the request of the staff of the Commission or regulatory
agency or under Nasdaq Stock Market regulations, in which case the Company shall provide Subscriber with prior written notice (including
by e-mail) of such permitted disclosure, and shall reasonably consult with Subscriber regarding such disclosure.

 

t. The
obligations of Subscriber under this Subscription Agreement are several and not joint with the obligations of any Other Subscriber or
any other investor under the Other Subscription Agreements, and Subscriber shall not be responsible in any way for the performance of
the obligations of any Other Subscriber under this Subscription Agreement or any other investor under the Other Subscription Agreements.
The decision of Subscriber to purchase Subscribed Shares pursuant to this Subscription Agreement has been made by Subscriber independently
of any Other Subscriber or any other investor and independently of any information, materials, statements or opinions as to the business,
affairs, operations, assets, properties, liabilities, results of operations, condition (financial or otherwise) or prospects of the Company
or any of its subsidiaries which may have been made or given by any Other Subscriber or investor or by any agent or employee of any Other
Subscriber or investor, and neither Subscriber nor any of its agents or employees shall have any liability to any Other Subscriber or
investor (or any other person) relating to or arising from any such information, materials, statements or opinions. Nothing contained
herein or in any Other Subscription Agreement, and no action taken by Subscriber or investor pursuant hereto or thereto, shall be deemed
to constitute Subscriber and other investors as a partnership, an association, a joint venture or any other kind of entity, or create
a presumption that Subscriber and other investors are in any way acting in concert or as a group with respect to such obligations or the
transactions contemplated by this Subscription Agreement and the Other Subscription Agreements. Subscriber acknowledges that no Other
Subscriber has acted as agent for Subscriber in connection with making its investment hereunder and no Other Subscriber will be acting
as agent of Subscriber in connection with monitoring its investment in the Subscribed Shares or enforcing its rights under this Subscription
Agreement. Subscriber shall be entitled to independently protect and enforce its rights, including without limitation the rights arising
out of this Subscription Agreement, and it shall not be necessary for any Other Subscriber or investor to be joined as an additional party
in any proceeding for such purpose.

 

u. Following
the Closing Date, Company shall hold regular quarterly conference calls to discuss the company’s financial results during the previous
quarter.

 

[Signature pages follow.]

 

    17

     

    

 

IN WITNESS WHEREOF, each of the Company and
Subscriber has executed or caused this Subscription Agreement to be executed by its duly authorized representative as of the date first
set forth above.

 

	 	VENTOUX CCM ACQUISITION CORP.
	 	 
	 	By:	 
	 	 	Name: Edward Scheetz
	 	 	Title: Chairman and Chief Executive Officer

 

	 	Address for Notices:
	 	 
	 	1 East Putnam Avenue, Floor 4
	 	Greenwich, CT

 

[Signature Page to Ventoux CCM Acquisition Corp
Subscription Agreement]

 

    18

     

    

 

	 	SUBSCRIBER:
	 	 
	 	Print Name:	  
	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	Address for Notices:
	 	 
	 	Name in which shares are to be registered:

 

	Number of Subscribed Shares subscribed for:	 	 	[●]	 
	 	 	 	 	 
	Price Per Subscribed Share:	 	$	[●]	 
	 	 	 	 	 
	Aggregate Purchase Price of Subscribed Shares:	 	$	[●]	 

 

You must pay the Purchase Price by wire transfer
of United States dollars in immediately available funds to the account of the Company specified by the Company in the Closing Notice.

 

[Signature Page to Ventoux CCM Acquisition Corp
Subscription Agreement]

 

    19

     

    

 

ANNEX A

 

ELIGIBILITY REPRESENTATIONS OF SUBSCRIBER

 

This Annex A should be completed and signed by
Subscriber

and constitutes a part of the Subscription Agreement.

 

	A.	ACCREDITED INVESTOR STATUS (Please check the box)

 

		☐	Subscriber is an “accredited investor” (within
the meaning of Rule 501(a) under the Securities Act) and has marked and initialed the appropriate box below indicating the provision
under which it qualifies as an “accredited investor.”

 

	B.	AFFILIATE STATUS

(Please check the applicable box)

 

SUBSCRIBER:

 

		☐	is:

 

		☐	is not:

 

an “affiliate” (as defined in Rule 144 under
the Securities Act) of the Company or acting on behalf of an affiliate of the Company.

 

Rule 501(a), in relevant part, states that an “accredited
investor” shall mean any person who comes within any of the below listed categories, or who the issuer reasonably believes comes
within any of the below listed categories, at the time of the sale of the securities to that person. Subscriber has indicated, by marking
and initialing the appropriate box below, the provision(s) below which apply to Subscriber and under which Subscriber accordingly qualifies
as an “accredited investor.”

 

		☐	Any bank, registered broker or dealer, insurance company,
registered investment company, business development company, or small business investment company;

 

		☐	Any plan established and maintained by a state, its political
subdivisions, or any agency or instrumentality of a state or its political subdivisions for the benefit of its employees, if such plan
has total assets in excess of $5,000,000;

 

		☐	Any employee benefit plan, within the meaning of the Employee
Retirement Income Security Act of 1974, if a bank, insurance company, or registered investment adviser makes the investment decisions,
or if the plan has total assets in excess of $5,000,000;

 

		☐	Any corporation, similar business trust, partnership or any
organization described in Section 501(c)(3) of the Internal Revenue Code, not formed for the specific purpose of acquiring the securities
offered, with total assets in excess of $5,000,000;

 

		☐	Any trust with assets in excess of $5,000,000, not formed
to acquire the securities offered, whose purchase is directed by a sophisticated person;

 

		☐	Any entity in which all of the equity owners are accredited
investors meeting one or more of the above tests or one of the following tests; or

 

		☐	Any entity of a type not listed above and not formed for
the specific purpose of acquiring the securities offered that owns investments in excess of $5,000,000.

 

[Specify which tests:   ]

 

	 	SUBSCRIBER:
	 	 
	 	Print Name:
	 	 
	 	By:	 
	 	 	Name: 	         
	 	 	Title:	 

 

 

20Exhibit 10.4

 

FORM OF AMENDED AND RESTATED

WARRANT AGREEMENT

 

This AMENDED AND RESTATED WARRANT AGREEMENT (“Warrant
Agreement”) is made as of [●], 2022, by and between Ventoux CCM Acquisition Corp., a Delaware corporation (the “Company”),
and Continental Stock Transfer & Trust Company (the “Warrant Agent”).

 

WHEREAS, the Company completed an initial public
offering (the “Public Offering”) of 17,250,000 units (the “Units”) of the Company, inclusive
of the underwriters’ exercise of their over-allotment option in full, each Unit consisting of one share of common stock, par value
$0.0001 per share (the “Common Stock”), one right to receive one-twentieth of one share of Common Stock, and one warrant
(the “Public Warrant” or “Public Warrants”), each whole Public Warrant entitling its holder to purchase
one-half of one share of Common Stock (the “Public Warrant Shares”);

 

WHEREAS, the Company entered into Subscription Agreements
dated as of December 23, 2020 (collectively, the “Subscription Agreements”), with Ventoux Acquisition Holdings
LLC (the “Co-Sponsor”) and Chardan International Investments, LLC (the “Co-Sponsor II”, and
together with the Co-Sponsor, the “Sponsors”), pursuant to which the Co-Sponsor purchased 4,450,000 warrants and
the Co-Sponsor II purchased 2,225,000 warrants, for an aggregate purchase of 6,675,000 warrants, each for a purchase price
of $1.00 per warrant (the “Private Warrants”, together with the Public Warrants, the “Initial Warrants”),
each whole Private Warrant entitling its holder to purchase one share of Common Stock (“Private Warrant Shares”, and
together with the Public Warrant Shares, the “Initial Warrant Shares”);

 

WHEREAS, the Company, Co-Sponsor and Co-Sponsor II
desire to cancel 900,000 of the Private Warrants on a pro-rata basis between Co-Sponsor and Co-Sponsor II;

 

WHEREAS, the Company and Warrant Agent entered into
that certain Warrant Agreement, dated as of December 23, 2020 (the “Original Warrant Agreement”), which provides
for the form and provisions of the Initial Warrants, the terms upon which they shall be issued and exercised, and the respective rights,
limitations of rights, and immunities of the Company, the Warrant Agent and the holders of the Initial Warrants;

 

WHEREAS, the Company has filed with the Securities
and Exchange Commission (the “SEC”), and the SEC has declared effective, a Registration Statement on Form S-1,
No. 333-251048 (“Registration Statement”), for the registration, under the Securities Act of 1933, as
amended (the “Act”) relating to the issuance of, among other securities, the Public Warrants;

 

WHEREAS, the Company, Ventoux Merger Sub I,
Inc. (“First Merger Sub”), Ventoux Merger Sub II, LLC (“Second Merger Sub”) and E La Carte,
Inc. (the “Target”) have entered into that certain Agreement and Plan of Merger, dated as of November 10, 2021
(as amended, the “Merger Agreement”), pursuant to which (and subject to the terms and conditions set forth therein)
First Merger Sub will merge with and into the Target, with the Target surviving such merger as a wholly-owned subsidiary of the Company
(the “First Merger”), and immediately following the First Merger, the surviving corporation will merge with and into
Second Merger Sub, with Second Merger Sub continuing on as the surviving entity as a wholly-owned subsidiary of the Company (the merger
transactions collectively referred to as the “Merger”);

 

WHEREAS, the Company has, concurrently with entering
into the Merger Agreement, entered into a Subscription Agreement, dated as of November 10, 2021 (as amended, the “Subscription
Agreement”) with a certain investor (the “Subscriber”), pursuant to which the Subscriber has agreed
to subscribe for and purchase, and the Company has agreed to issue and sell to the Subscriber, effective as of immediately prior to the
effective time of the Merger, (a) an aggregate principal amount of $25,000,000 of Company’s 15.0% Cash + 5.0% PIK notes due
2026 (the “Notes”), which are convertible into shares of Common Stock, and (b) warrants to purchase an aggregate of
1,500,000 shares of Common Stock (the “Notes Warrant Shares” and together with the Initial Warrant Shares, the “Warrant
Shares”) for an initial exercise price of $11.50 per share of Common Stock (the “Note Financing Warrants”
and, together with the Initial Warrants, the “Warrants”);

 

     

     

    

 

WHEREAS, each Public Warrant entitles the holder
thereof to purchase one-half of one share of Common Stock at a price of $8.21 per whole share; and each Private Warrant and Note Financing
Warrant entitles the holder thereof to purchase one share of Common Stock for $11.50 per share, subject to adjustment as described herein;

 

WHEREAS, the Company desires the Warrant Agent to
act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance, registration, transfer, exchange,
redemption and exercise of the Warrants;

 

WHEREAS, the Company desires to provide for the
form, terms and provisions of the Warrants, including the terms upon which they shall be issued and exercised, and the respective rights,
limitation of rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants;

 

WHEREAS, in connection with the foregoing, the Company
and the Warrant Agent desire to amend and restate the Original Warrant Agreement in the form of this Agreement, in accordance with Section 9.8
of the Original Warrant Agreement, such that this Agreement will take effect and supersede the Original Warrant Agreement in its entirety
as of immediately prior to the effective time of the Merger (concurrently with the issuance of the Note Financing Warrants); and

 

WHEREAS, all acts and things have been done and
performed which are necessary to make the Warrants, when executed on behalf of the Company and countersigned by or on behalf of the Warrant
Agent, as provided herein, the legally valid and binding obligations of the Company, and to authorize the execution and delivery of this
Warrant Agreement.

 

NOW, THEREFORE, in consideration of the mutual agreements
herein contained, the parties hereto agree as follows:

 

1. Appointment of Warrant Agent. The Company
hereby appoints the Warrant Agent to act as agent for the Company for the Warrants, and the Warrant Agent hereby accepts such appointment
and agrees to perform the same in accordance with the terms and conditions set forth in this Warrant Agreement.

 

2. Warrants.

 

2.1 Form of Warrant. Each Warrant other than
a Private Warrant shall be: (a) issued in registered form only, (b) in substantially the form of Exhibit A hereto, the
provisions of which are incorporated herein and (c) signed by, or bear the facsimile signature of, the Chairman of the Board, the
Chief Executive Officer or the Chief Financial Officer of the Company. The Note Financing Warrants shall be identical to the Public
Warrants, except that the Note Financing Warrants shall be exercisable for one share of Common Stock. In the event the person whose
facsimile signature has been placed upon any Warrant shall have ceased to serve in the capacity in which such person signed the Warrant
before such Warrant is issued, it may be issued with the same effect as if he or she had not ceased to be such at the date of issuance.

 

2.2 Effect of Countersignature. Unless and
until countersigned by the Warrant Agent pursuant to this Warrant Agreement, a Warrant shall be invalid and of no effect and may not be
exercised by the holder thereof.

 

2.3 Registration.

 

2.3.1 Warrant Register. The Warrant Agent
shall maintain books (the “Warrant Register”), for the registration of the original issuance and transfers of the Warrants.
Upon the initial issuance of the Warrants, the Warrant Agent shall issue and register the Warrants in the names of the respective holders
thereof in such denominations and otherwise in accordance with instructions delivered to the Warrant Agent by the Company.

 

2.3.2 Registered Holder. Prior to due presentment
for registration of transfer of any Warrant, the Company and the Warrant Agent may deem and treat the person in whose name such Warrant
shall be registered upon the Warrant Register (“Registered Holder”) as the absolute owner of such Warrant and of each
Warrant represented thereby (notwithstanding any notation of ownership or other writing on the Warrant certificate made by anyone other
than the Company or the Warrant Agent), for the purpose of any exercise thereof, and for all other purposes, and neither the Company nor
the Warrant Agent shall be affected by any notice to the contrary.

 

    2

     

    

 

2.4 Reserved.

 

2.5 Private Warrants.

 

2.5.1 Cancellation of Certain Private Warrants.
Of the 6,675,000 Private Warrants outstanding immediately prior to the execution of this Warrant Agreement, 900,000 Private Warrants shall
be cancelled, on a pro rata basis between Co-Sponsor and Co-Sponsor II, effective as of the date hereof.

 

2.5.2 Exercise and Redemption. The Private
Warrants (i) will be exercisable either for cash or on a cashless basis at the holder’s option pursuant to Section 3.3
hereof and (ii) will not be redeemable by the Company, in either case as long as the Private Warrants are held by the initial purchasers
or any of their permitted transferees (as prescribed in the Subscription Agreements).

 

3. Terms and Exercise of Warrants.

 

3.1 Warrant Price. Each Warrant shall, when
countersigned by the Warrant Agent, entitle the Registered Holder thereof, subject to the provisions of such Warrant and of this Warrant
Agreement, to purchase from the Company the number of shares of Common Stock stated therein, at the exercise price of (i) $11.50 per whole
share for the Note Financing Warrants and the Private Warrants and (ii) $8.21 per whole share for the Public Warrants, subject to the
adjustments provided in Section 4 hereof. The term “Warrant Price” as used in this Warrant Agreement refers to
the price per whole share at which shares of Common Stock may be purchased at the time such Warrant is exercised. The Public Warrants
may only be exercised for a whole number of Warrant Shares by a Registered Holder.

 

3.2 Duration of Warrants. A Warrant may be
exercised only during the period (“Exercise Period”) commencing on the date of completion of the Company’s initial
business combination, and terminating at 5:00 p.m., New York City time, on the earlier to occur of (i) (A) with respect
to the Public Warrants, the Private Warrants (except as provided in the following clause (B)) and the Note Financing Warrants, five years
following the completion of the Company’s initial business combination, and (B) only with respect to the Warrants purchased
by Co-Sponsor II, five years from the effective date of the Registration Statement with respect to the Private Warrants, provided
that once the Private Warrants are not beneficially owned by Co-Sponsor II or any of its related persons anymore, the Private Warrants
may not be exercised five years following the completion of the Company’s initial business combination, and (ii) the date
fixed for redemption of the Warrants as provided in Section 6 of this Warrant Agreement (except as provided in Section 2.5)
(“Expiration Date”). Except with respect to the right to receive the Redemption Price (as set forth in Section 6
hereunder), each Warrant not exercised on or before the Expiration Date shall become void, and all rights thereunder and all rights in
respect thereof under this Warrant Agreement shall cease at the close of business on the Expiration Date. The Company may extend the duration
of the Warrants by delaying the Expiration Date; provided, however, that the Company will provide written notice of not less than 10 days
to Registered Holders of such extension and that such extension shall be identical in duration among all of the then outstanding Warrants.

 

3.3 Exercise of Warrants.

 

3.3.1 Cash Exercise. Subject to the provisions
of the Warrant and this Warrant Agreement, a Warrant, when countersigned by the Company, may be exercised by the Registered Holder thereof
by surrendering it at the office of the Warrant Agent, or at the office of its successor as Warrant Agent, currently being:

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Compliance Department

 

with the subscription form, as set forth in the
Warrant, duly executed, and by paying in full, in lawful money of the United States, by certified or bank cashier’s check
payable to the order of the Warrant Agent or by wire transfer to the Warrant Agent’s bank account, the Warrant Price for each whole
Warrant Share as to which the Warrant is exercised and any and all applicable taxes due in connection with the exercise of the Warrant,
the exchange of the Warrant for the Warrant Shares, and the issuance of the Warrant Shares (such exercise, a “Cash Exercise”).
A Cash Exercise in accordance with this Section 3.3.1 is available to the Registered Holder only during such times that there is
an effective registration statement registering the Warrant Shares, with the prospectus contained therein being available for the resale
of the Warrant Shares.

 

    3

     

    

 

3.3.2 Cashless Exercise. Notwithstanding
anything contained herein to the contrary, if there is no effective registration statement registering the Warrant Shares on any day
the Registered Holder desires to exercise the Warrants and more than 120 days have passed since the Company completed its initial
business combination, the Registered Holder may exercise the Warrants in whole or in part in lieu of making a cash payment for whole numbers
of Warrant Shares, by providing notice to the Chief Financial Officer of the Company in a subscription form of its election to utilize
cashless exercise, in which event the Company shall issue to the Holder the number of Warrant Shares determined as follows:

 

X = Y [(A-B)/A]

 

where:

 

X = the number of Warrant Shares to be issued to the Holder.

 

Y = the number of Warrant Shares with respect to which this
Warrant is being exercised.

 

A = the Fair Market Value of one share of Common Stock.

 

B = the Warrant Price.

 

The Registered Holder may not exercise any Warrants
in the absence of a registration statement except pursuant to this Section 3.3.2. For purposes of this Section 3.3.2
and Section 4.1, the “Fair Market Value” of one share of Common Stock is defined as follows:

 

		(i)	if the Company’s shares of Common Stock are listed and
traded on the New York Stock Exchange, the NYSE American, the NASDAQ Global Select Market, the NASDAQ Global Market or the NASDAQ
Capital Market (each, a “Trading Market”), the fair market value shall be deemed the average of the closing price
on such Trading Market for the 10 trading days ending on the third trading day immediately prior to the date the subscription
form is submitted to the Company in connection with the exercise of the Warrant; or

 

		(ii)	if the Company’s shares of Common Stock are not listed
on a Trading Market, but is traded in the over-the-counter market, the fair market value shall be deemed to be the average of the bid
price on such Trading Market for the 10 trading days ending on the third trading day immediately prior to the date the subscription
form is submitted in connection with the exercise of the Warrant; or

 

		(iii)	if there is no active public market for the Company’s
shares of Common Stock, the fair market value of the shares of Common Stock shall be determined in good faith by the Company’s
board of directors.

 

3.3.3 Fractional Shares. Notwithstanding
any provision to the contrary contained in this Warrant Agreement, the Company shall not be required to issue any fraction of a Warrant
Share in connection with the exercise of Warrants, and in any case where the Registered Holder would be entitled under the terms of the
Warrants to receive a fraction of a Warrant Share upon the exercise of such Registered Holder’s Warrants, issue or cause to be issued
only the largest whole number of Warrant Shares issuable on such exercise (and such fraction of a Warrant Share will be disregarded);
provided, that if more than one Warrant certificate is presented for exercise at the same time by the same Registered Holder, the number
of whole Warrant Shares which shall be issuable upon the exercise thereof shall be computed on the basis of the aggregate number of Warrant
Shares issuable on exercise of all such Warrants.

 

3.3.4 Issuance of Common
Stock Certificates. No later than three business days following the exercise of any Warrant and the clearance of the funds in payment
of the Warrant Price pursuant to Section 3.3.1 or cashless exercise pursuant to Section 3.3.2, the Company shall issue, or
cause to be issued, to the Registered Holder of such Warrant a certificate or certificates representing (or at the option of the Registered
Holder, a book-entry position and deliver electronically through the facilities of the Depository Trust Corporation) the number of whole
shares of Common Stock to which such Registered Holder is entitled, registered in such name or names as may be directed by such Registered
Holder, and, if such Warrant shall not have been exercised or surrendered in full, a new book-entry position or countersigned Warrant,
as applicable, for the number of shares of Common Stock as to which such Warrant shall not have been exercised or surrendered. Notwithstanding
the foregoing, the Company shall not deliver, or cause to be delivered, any securities without applicable restrictive legend pursuant
to the exercise of a Warrant unless (a) a registration statement under the Act with respect to the shares of Common Stock issuable
upon exercise of such Warrants is effective and a current prospectus relating to the shares of Common Stock issuable upon exercise of
the Warrants is available for delivery to the Registered Holder of the Warrant or (b) in the opinion of counsel to the Company,
the exercise of the Warrants is exempt from the registration requirements of the Act and such securities are qualified for sale or exempt
from qualification under applicable securities laws of the states or other jurisdictions in which the Registered Holder resides. Warrants
may not be exercised by, or securities issued to, any Registered Holder in any state in which such exercise or issuance would be unlawful.
In addition, in no event will the Company be obligated to pay such Registered Holder any cash consideration upon exercise or otherwise
“net cash settle” the Warrant.

 

    4

     

    

 

3.3.5 Valid Issuance. All shares of Common
Stock issued upon the proper exercise or surrender of a Warrant in conformity with this Warrant Agreement shall be validly issued, fully
paid and non-assessable.

 

3.3.6 Date of Issuance. Each person or entity
in whose name any book-entry position or certificate for shares of Common Stock is issued shall, for all purposes, be deemed to have become
the holder of record of such shares of Common Stock on the date on which the Warrant (or book-entry position representing such Warrant)
was surrendered and payment of the Warrant Price was made, irrespective of the date of delivery of such certificate, except that, if the
date of such surrender and payment is a date when the stock transfer books of the Company or book-entry system of the Warrant Agent are
closed, such person shall be deemed to have become the holder of such shares at the close of business on the next succeeding date on which
the stock transfer books or book-entry system are open.

 

3.3.7 Maximum Percentage. A holder of a Warrant
may notify the Company in writing in the event it elects to be subject to the provisions contained in this subsection 3.3.7; however,
no holder of a Warrant shall be subject to this subsection 3.3.7 unless he, she or it makes such election. If the election is made by
a holder, the Warrant Agent shall not effect the exercise of the holder’s Warrant, and such holder shall not have the right to exercise
such Warrant, to the extent that after giving effect to such exercise, such person (together with such person’s affiliates), to
the Warrant Agent’s actual knowledge, would beneficially own in excess of 9.9% (the “Maximum Percentage”) of
the shares of Common Stock outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate
number of shares of Common Stock beneficially owned by such person and its affiliates shall include the number of shares of Common Stock
issuable upon exercise of the Warrant with respect to which the determination of such sentence is being made, but shall exclude the shares
of Common Stock that would be issuable upon (x) exercise of the remaining, unexercised portion of the Warrant beneficially owned
by such person and its affiliates and (y) exercise or conversion of the unexercised or unconverted portion of any other securities
of the Company beneficially owned by such person and its affiliates (including, without limitation, any convertible notes or convertible
preferred shares or warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein. Except as
set forth in the preceding sentence, for purposes of this paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of
the Securities Exchange Act of 1934, as amended (the “Exchange Act”). For purposes of the Warrant,
in determining the number of outstanding shares of Common Stock, the holder may rely on the number of outstanding shares of Common Stock
as reflected in (1) the Company’s most recent annual report on Form 10-K, quarterly report on Form 10-Q, current
report on Form 8-K or other public filing with the SEC as the case may be, (2) a more recent public announcement by the Company,
or (3) any other notice by the Company or the Warrant Agent setting forth the number of shares of Common Stock outstanding. For any
reason at any time, upon the written request of the holder of the Warrant, the Company shall, within two business days, confirm orally
and in writing to such holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of
Common Stock shall be determined after giving effect to the conversion or exercise of equity securities of the Company by the holder and
its affiliates since the date as of which such number of outstanding shares of Common Stock was reported. By written notice to the Company,
the holder of a Warrant may from time to time increase or decrease the Maximum Percentage applicable to such holder to any other percentage
specified in such notice; provided, however, that any such increase shall not be effective until the sixty-first (61st) day
after such notice is delivered to the Company.

 

4. Adjustments.

 

4.1 Stock Dividends,
Splits. If, after the date hereof, and subject to the provisions of Section 4.5 below, the number of outstanding shares of
Common Stock is increased or decreased by a stock dividend payable in shares of Common Stock, or by a forward or reverse split of
shares of Common Stock, or other similar event, then, on the effective date of such stock dividend, split or similar event, the
number of shares of Common Stock issuable on exercise of each Warrant shall be increased or decreased in proportion to such increase
or decrease in outstanding shares of Common Stock. A rights offering to all holders of the shares of Common Stock entitling holders
to purchase shares of Common Stock at a price less than the Fair Market Value shall be deemed a stock dividend of a number of shares
of Common Stock equal to the product of (i) the number of shares of Common Stock actually sold in such rights offering (or
issuable under any other equity securities sold in such rights offering that are convertible into or exercisable for the shares of
Common Stock) multiplied by (ii) one minus the quotient of (x) the price per share of Common Stock paid in such rights
offering divided by (y) the Fair Market Value. For purposes of this subsection 4.1, if the rights offering is for securities
convertible into or exercisable for shares of Common Stock, in determining the price payable for the shares of Common Stock, there
shall be taken into account any consideration received for such rights, as well as any additional amount payable upon exercise or
conversion.

 

    5

     

    

 

4.2 Aggregation of Shares. If, after the
date hereof, and subject to the provisions of Section 4.6, the number of outstanding shares of Common Stock is decreased by a consolidation,
combination or reclassification of shares of Common Stock or other similar event, then, on the effective date of such consolidation, combination,
reclassification or similar event, the number of shares of Common Stock issuable on exercise of each Warrant shall be decreased in proportion
to such decrease in outstanding shares of Common Stock.

 

4.3 Extraordinary Dividends. If the Company,
at any time while the Warrants (or rights to purchase the Warrants) are outstanding and unexpired, shall pay a dividend or make a distribution
in cash, securities or other assets to the holders of the shares of Common Stock on account of such shares of Common Stock (or other shares
of the Company’s capital stock into which the Warrants are convertible), other than (a) as described in subsection 4.1 above,
(b) Ordinary Cash Dividends (as defined below), (c) to satisfy the conversion rights of the holders of the shares of Common
Stock in connection with a proposed initial business combination or vote to extend the time period to complete an initial business combination,
(d) as a result of the repurchase of shares of Common Stock by the Company in connection with an initial business combination or
as otherwise permitted by the Investment Management Trust Agreement between the Company and the Warrant Agent dated of even date herewith
or (e) in connection with the Company’s liquidation and the distribution of its assets upon its failure to consummate a business
combination (any such non-excluded event being referred to herein as an “Extraordinary Dividend”), then the Warrant
Price shall be decreased, effective immediately after the effective date of such Extraordinary Dividend, by the amount of cash and the
fair market value (as determined by the Company’s board of directors, in good faith) of any securities or other assets paid on each
share of Common Stock in respect of such Extraordinary Dividend. For purposes of this subsection 4.3, “Ordinary Cash Dividends”
means any cash dividend or cash distribution which, when combined on a per share basis with the per share amounts of all other cash dividends
and cash distributions paid on the shares of Common Stock during the 365-day period ending on the date of declaration of such dividend
or distribution (as adjusted to appropriately reflect any of the events referred to in other subsections of this Section 4 and excluding
cash dividends or cash distributions that resulted in an adjustment to the Warrant Price or to the number of shares of Common Stock issuable
on exercise of each Warrant) does not exceed $0.50 (being 5% of the offering price of the Units in the Offering). The foregoing adjustment
shall not apply to the Private Warrants or the Note Financing Warrants.

 

4.4 Adjustments in Exercise Price. Whenever
the number of shares of Common Stock purchasable upon the exercise of the Warrants is adjusted, as provided in Sections 4.1 and 4.2 above,
the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price, immediately prior to such adjustment, by
a fraction, (a) the numerator of which shall be the number of shares of Common Stock purchasable upon the exercise of the Warrants
immediately prior to such adjustment, and (b) the denominator of which shall be the number of shares of Common Stock so purchasable
immediately thereafter.

 

4.5 Replacement of Securities
upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding shares of Common Stock (other than
a change covered by Sections 4.1, 4.2 or 4.3 hereof or one that solely affects the par value of such shares of Common Stock), or, in
the case of any merger or consolidation of the Company with or into another entity (other than a consolidation or merger in which the
Company is the continuing entity and that does not result in any reclassification or reorganization of the outstanding shares of Common
Stock), or, in the case of any sale or conveyance to another corporation or entity of the assets or other property of the Company as
an entirety or substantially as an entirety, in connection with which the Company is dissolved, the Registered Holders shall thereafter
have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the Warrants and in lieu of the
shares of Common Stock of the Company immediately theretofore purchasable and receivable upon the exercise of the rights represented
thereby, the kind and amount of shares of stock or other securities or property (including cash) receivable upon such reclassification,
reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the Registered Holder would
have received if such Registered Holder had exercised his, her or its Warrant(s) immediately prior to such event; and if any reclassification
also results in a change in shares of Common Stock covered by Sections 4.1, 4.2 or 4.3, then such adjustment shall be made pursuant to
Sections 4.1, 4.2, 4.3 and this Section 4.5. The provisions of this Section 4.5 shall similarly apply to successive reclassifications,
reorganizations, mergers or consolidations, sales or other transfers. In no event shall the Warrant Price be reduced to less than the
par value per share of Common Stock issuable upon exercise of the Warrant.

 

    6

     

    

 

4.6 Notices of Changes in Warrant. Upon every
adjustment of the Warrant Price or the number of shares of Common Stock issuable upon exercise of a Warrant, the Company shall give written
notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting from such adjustment and the increase or decrease,
if any, in the number of shares of Common Stock purchasable at such price upon the exercise of a Warrant, setting forth in reasonable
detail the method of calculation and the facts upon which such calculation is based. Upon the occurrence of any event specified in Sections
4.1 – 4.5 the Company shall give written notice to each Registered Holder, at the last address set forth for such
Registered Holder in the Warrant Register, of the record date or the effective date of the event. Failure to give such notice, or any
defect therein, shall not affect the legality or validity of such event.

 

4.7 Form of Warrant. The form of Warrant
need not be changed because of any adjustment pursuant to this Section 4, and Warrants issued after such adjustment may state the
same Warrant Price and the same number of shares as is stated in the Warrants initially issued pursuant to this Warrant Agreement. However,
the Company may, at any time, in its sole discretion, make any change in the form of Warrant that the Company may deem appropriate and
that does not affect the substance thereof, and any Warrant thereafter issued or countersigned, whether in exchange or substitution for
an outstanding Warrant or otherwise, may be in the form as so changed.

 

4.8 Notice of Certain Transactions. In the
event that the Company shall (a) offer to holders of all its shares of Common Stock rights to subscribe for or to purchase any securities
convertible into shares of Common Stock or shares of stock of any class or any other securities, rights or options, (b) issue any
rights, options or warrants entitling all the holders of shares of Common Stock to subscribe for shares of Common Stock, or (c) make
a tender offer, redemption offer or exchange offer with respect to the shares of Common Stock, the Company shall send to the Registered
Holders a notice of such action or offer. Such notice shall be mailed to the Registered Holders at their addresses as they appear in the
Warrant Register, which shall specify the record date for the purposes of such dividend, distribution or rights, or the date such issuance
or event is to take place and the date of participation therein by the holders of shares of Common Stock, if any such date is to be fixed,
and shall briefly indicate the effect of such action on the shares of Common Stock and on the number and kind of any other shares of stock
and on other property, if any, and the number of shares of Common Stock and other property, if any, issuable upon exercise of each Warrant
and the Warrant Price after giving effect to any adjustment pursuant to this Section 4 which would be required as a result of such
action. Such notice shall be given as promptly as practicable after the Company has taken any such action.

 

4.9 Other Events. In case any event shall
occur affecting the Company as to which none of the provisions of preceding subsections of this Section 4 are strictly applicable,
but which would require an adjustment to the terms of the Warrants in order to (i) avoid an adverse impact on the Warrants and (ii) effectuate
the intent and purpose of this Section 4, then, in each such case, the Company shall appoint a firm of independent public accountants,
investment banking or other appraisal firm of recognized national standing, which shall give its opinion as to whether or not any adjustment
to the rights represented by the Warrants is necessary to effectuate the intent and purpose of this Section 4 and, if they determine
that an adjustment is necessary, the terms of such adjustment. The Company shall adjust the terms of the Warrants in a manner that is
consistent with any adjustment recommended in such opinion.

 

5. Transfer and Exchange of Warrants.

 

5.1 Registration of Transfer. The Warrant
Agent shall register the transfer, from time to time, of any outstanding Warrant into the Warrant Register, upon surrender of such Warrant
for transfer, properly endorsed with signatures properly guaranteed and accompanied by appropriate instructions for transfer. Upon any
such transfer, a new Warrant representing an equal aggregate number of Warrants shall be issued and the old Warrant shall be cancelled
by the Warrant Agent. The Warrants so cancelled shall be delivered by the Warrant Agent to the Company from time to time upon the Company’s
request.

 

    7

     

    

 

5.2 Procedure for Surrender of Warrants.
Warrants may be surrendered to the Warrant Agent, together with a written request for exchange or transfer, and, thereupon, the Warrant
Agent shall issue in exchange therefor one or more new Warrants as requested by the Registered Holder of the Warrants so surrendered,
representing an equal aggregate number of Warrants; provided, however, that, in the event a Warrant surrendered for transfer bears a restrictive
legend, the Warrant Agent shall not cancel such Warrant and shall issue new Warrants in exchange therefor until the Warrant Agent has
received an opinion of counsel for the Company stating that such transfer may be made and indicating whether the new Warrants must also
bear a restrictive legend.

 

5.3 Fractional Warrants. The Warrant Agent
shall not be required to effect any registration of transfer or exchange which will result in the issuance of a warrant certificate or
book-entry position for a fraction of a warrant.

 

5.4 Service Charges. No service charge shall
be made for any exchange or registration of transfer of Warrants.

 

5.5 Warrant Execution and Countersignature.
The Warrant Agent is hereby authorized to countersign and to deliver, in accordance with the terms of this Warrant Agreement, the Warrants
required to be issued pursuant to the provisions of this Section 5, and the Company, whenever required by the Warrant Agent, will
supply the Warrant Agent with Warrants duly executed on behalf of the Company for such purpose.

 

6. Redemption.

 

6.1 Redemption. Subject to the second sentence
of this Section 6.1, all (and not less than all) of the outstanding Warrants may be redeemed, in whole and not in part, at the option
of the Company, at any time from and after the Warrants become exercisable, and prior to their expiration, at the office of the Warrant
Agent, upon the notice referred to in Section 6.2, at the price of $0.01 per Warrant (“Redemption Price”); provided
that the last sales price of the shares of Common Stock has been equal to or greater than (i) $16.50 per share in the case of the Note
Financing Warrants and the Private Warrants or (ii)165% of the volume weighted average trading price of the Common Stock during the 20
trading day period starting on the trading day prior to the day on which the Company consummated the Merger in the case of the Public
Warrants (subject to adjustment for splits, dividends, recapitalizations and other similar events), for any twenty (20) trading days within
a thirty (30) trading day period ending on the third business day prior to the date on which notice of redemption is given and provided
further that there is a current registration statement in effect with respect to the shares of Common Stock underlying the Warrants and
a current prospectus relating thereto, for each day in the aforementioned 30-day trading period and continuing each day thereafter until
the Redemption Date (defined below). For avoidance of doubt, if and when the warrants become redeemable by the Company under this Section,
the Company may exercise its redemption right, even if it is unable to register or qualify the Warrant Shares for sale under all applicable
state securities laws.

 

6.2 Date Fixed for, and Notice of, Redemption.
In the event the Company shall elect to redeem all of the Warrants, the Company shall fix a date for the redemption (the “Redemption
Date”). Notice of redemption shall be mailed by first class mail, postage prepaid, by the Company not less than 30 days
prior to the date fixed for redemption to the Registered Holders of the Warrants to be redeemed at their last addresses as they shall
appear on the Warrant Register. Any notice mailed in the manner herein provided shall be conclusively presumed to have been duly given,
whether or not the Registered Holder received such notice.

 

6.3 Exercise After Notice of Redemption.
The Warrants may be exercised in accordance with Section 3 of this Warrant Agreement at any time after notice of redemption shall
have been given by the Company pursuant to Section 6.2 hereof and prior to the Redemption Date; provided that the Company may require
the Registered Holder who desires to exercise the Warrant to elect cashless exercise as set forth under Section 3.3.2, and such Registered
Holder must exercise the Warrants on a cashless basis if the Company so requires. On and after the Redemption Date, the Registered Holder
of the Warrants shall have no further rights except to receive, upon surrender of the Warrants, the Redemption Price.

 

6.4 No Other Rights to Cash Payment. Except
for a redemption in accordance with this Section 6, no Registered Holder of any Warrant shall be entitled to any cash payment whatsoever
from the Company in connection with the ownership, exercise or surrender of any Warrant under this Warrant Agreement.

 

    8

     

    

 

7. Other Provisions Relating to Rights of Registered
Holders of Warrants.

 

7.1 No Rights as Stockholder. A Warrant does
not entitle the Registered Holder thereof to any of the rights of a stockholder of the Company, including, without limitation, the right
to receive dividends, or other distributions, exercise any preemptive rights to vote or to consent or to receive notice as stockholders
in respect of the meetings of stockholders or the election of directors of the Company or any other matter.

 

7.2 Lost, Stolen Mutilated or Destroyed Warrants.
If any Warrant is lost, stolen, mutilated or destroyed, the Company and the Warrant Agent may, on such terms as to indemnity or otherwise
as they may in their discretion impose (which terms shall, in the case of a mutilated Warrant, include the surrender thereof), issue a
new Warrant of like denomination, tenor and date as the Warrant so lost, stolen, mutilated or destroyed. Any such new Warrant shall constitute
a substitute contractual obligation of the Company, whether or not the allegedly lost, stolen, mutilated or destroyed Warrant shall be
at any time enforceable by anyone.

 

7.3 Reservation of shares of Common Stock.
The Company shall at all times reserve and keep available a number of its authorized but unissued shares of Common Stock that will be
sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Warrant Agreement.

 

7.4 Registration of shares of Common Stock.
The Company agrees that as soon as practicable, but in no event later than 30 business days after the closing of a business combination,
it shall use its best efforts to file with the SEC a registration statement for the registration under the Act of the shares
of Common Stock issuable upon exercise of the Warrants, and to cause the same to become effective and to maintain the effectiveness of
such registration statement, and a current prospectus relating thereto, until the expiration of the Warrants in accordance with the provisions
of this Warrant Agreement. In addition, the Company agrees to use its best efforts to register the shares of Common Stock issuable upon
exercise of the Warrants under state blue sky laws, to the extent an exemption is not available.

 

8. Concerning the Warrant Agent and Other Matters.

 

8.1 Payment of Taxes. The Company will, from
time to time, promptly pay all taxes and charges that may be imposed upon the Company or the Warrant Agent in respect of the issuance
or delivery of shares of Common Stock upon the exercise of Warrants, but the Company shall not be obligated to pay any transfer taxes
in respect of the Warrants or such shares of Common Stock.

 

8.2 Resignation, Consolidation, or Merger of
Warrant Agent.

 

8.2.1 Appointment of Successor Warrant Agent.
The Warrant Agent, or any successor to it hereafter appointed, may resign its duties and be discharged from all further duties and liabilities
hereunder after giving 60 days’ notice in writing to the Company. If the office of the Warrant Agent becomes vacant by resignation
or incapacity to act or otherwise, the Company shall appoint, in writing, a successor Warrant Agent in place of the Warrant Agent. If
the Company shall fail to make such appointment within a period of 30 days after it has been notified in writing of such resignation
or incapacity by the Warrant Agent or by the Registered Holder of the Warrant (who shall, with such notice, submit his, her or its Warrant
for inspection by the Company), then the Registered Holder of any Warrant may apply to the Supreme Court of the State of New York
for the County of New York for the appointment of a successor Warrant Agent. Any successor Warrant Agent, whether appointed by the
Company or by such court, shall be a corporation organized and existing under the laws of the State of New York, in good standing
and having its principal office in the Borough of Manhattan, City and State of New York, and be authorized under such laws to exercise
corporate trust powers and subject to supervision or examination by federal or state authorities. After appointment, any successor Warrant
Agent shall be vested with all the authority, powers, rights, immunities, duties and obligations of its predecessor Warrant Agent with
like effect as if originally named as Warrant Agent hereunder, without any further act or deed; but, if for any reason it becomes necessary
or appropriate, the predecessor Warrant Agent shall execute and deliver, at the expense of the Company, an instrument transferring to
such successor Warrant Agent all the authority, powers, and rights of such predecessor Warrant Agent hereunder; and, upon request of any
successor Warrant Agent, the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for more fully and
effectually vesting in and confirming to such successor Warrant Agent all such authority, powers, rights, immunities, duties and obligations.

 

    9

     

    

 

8.2.2 Notice of Successor Warrant Agent.
In the event a successor Warrant Agent shall be appointed, the Company shall give notice thereof to the predecessor Warrant Agent and
the transfer agent for the shares of Common Stock not later than the effective date of any such appointment.

 

8.2.3 Merger or Consolidation of Warrant Agent.
Any corporation into which the Warrant Agent may be merged or with which it may be consolidated or any corporation resulting from any
merger or consolidation to which the Warrant Agent shall be a party shall be the successor Warrant Agent under this Warrant Agreement
without any further act on the part of the Company or the Warrant Agent.

 

8.3 Fees and Expenses of Warrant Agent.

 

8.3.1 Remuneration. The Company agrees to
pay the Warrant Agent reasonable remuneration for its services as Warrant Agent hereunder and will reimburse the Warrant Agent upon demand
for all expenditures that the Warrant Agent may reasonably incur in the execution of its duties hereunder.

 

8.3.2 Further Assurances. The Company agrees
to perform, execute, acknowledge and deliver, or cause to be performed, executed, acknowledged and delivered, all such further and other
acts, instruments and assurances as may reasonably be required by the Warrant Agent for the carrying out or performing of the provisions
of this Warrant Agreement.

 

8.4 Liability of Warrant Agent.

 

8.4.1 Reliance on Company Statement. Whenever,
in the performance of its duties under this Warrant Agreement, the Warrant Agent shall deem it necessary or desirable that any fact or
matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter (unless other evidence
in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established by a statement signed by
the Chief Executive Officer, Chief Financial Officer or Chairman of the Board of the Company and delivered to the Warrant Agent. The Warrant
Agent may rely upon such statement for any action taken or suffered in good faith by it pursuant to the provisions of this Warrant Agreement.

 

8.4.2 Indemnity. The Warrant Agent shall
be liable hereunder only for its own gross negligence, willful misconduct or bad faith. The Company agrees to indemnify the Warrant Agent
and hold it harmless against any and all liabilities, including judgments, costs and reasonable counsel fees, for anything done or omitted
by the Warrant Agent in the execution of this Warrant Agreement, except as a result of the Warrant Agent’s gross negligence, willful
misconduct or bad faith.

 

8.4.3 Exclusions. The Warrant Agent shall
have no responsibility with respect to the validity of this Warrant Agreement or with respect to the validity or execution of any Warrant
(except its countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant or condition contained
in this Warrant Agreement or in any Warrant; nor shall it be responsible to make any adjustments required under the provisions of Section 4
hereof or responsible for the manner, method or amount of any such adjustment or the ascertaining of the existence of facts that would
require any such adjustment; nor shall it, by any act hereunder, be deemed to make any representation or warranty as to the authorization
or reservation of any shares of Common Stock to be issued pursuant to this Warrant Agreement or any Warrant or as to whether any shares
of Common Stock will when issued be valid and fully paid and non-assessable.

 

8.5 Acceptance of Agency. The Warrant Agent
hereby accepts the agency established by this Warrant Agreement and agrees to perform the same upon the terms and conditions herein set
forth and, among other things, shall account promptly to the Company with respect to Warrants exercised and concurrently account for,
and pay to the Company, all moneys received by the Warrant Agent for the purchase of shares of the Company’s shares of Common Stock
through the exercise of Warrants.

 

9. Miscellaneous Provisions.

 

9.1 Successors. All the covenants and provisions
of this Warrant Agreement by or for the benefit of the Company or the Warrant Agent shall bind and inure to the benefit of their respective
successors and assigns.

 

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9.2 Notices. Any notice, statement or demand
authorized by this Warrant Agreement to be given or made by the Warrant Agent or by the Registered Holder of any Warrant to or on the
Company shall be delivered by hand or sent by registered or certified mail or overnight courier service, addressed (until another address
is filed in writing by the Company with the Warrant Agent) as follows:

 

Ventoux CCM Acquisition Corp.

3000 El Camino Real 2 Palo Alto Square Suite 900

Palo Alto, California 94306-2109

 

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

 

White and Case LLP

1221 Avenue of the Americas

New York, NY 10020-1095

Attn: Colin Diamond

 

Any notice, statement or demand authorized by this Warrant Agreement
to be given or made by the Registered Holder of any Warrant or by the Company to or on the Warrant Agent shall be delivered by hand or
sent by registered or certified mail or overnight courier service, addressed (until another address is filed in writing by the Warrant
Agent with the Company), as follows:

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

 

Any notice, sent pursuant to this Warrant Agreement shall be effective,
if delivered by hand, upon receipt thereof by the party to whom it is addressed, if sent by overnight courier, on the next business day
of the delivery to the courier, and if sent by registered or certified mail on the third day after registration or certification
thereof.

 

9.3 Applicable Law. The validity, interpretation,
and performance of this Warrant Agreement and of the Warrants shall be governed in all respects by the laws of the State of New York,
without giving effect to conflict of laws. Subject to applicable law, the Company and the Warrant Agent hereby agree that any action,
proceeding or claim against either of them arising out of or relating in any way to this Warrant Agreement shall be brought and enforced
in the courts of the State of New York or the United States District Court for the Southern District of New York, and irrevocably
submits to such jurisdiction, which jurisdiction shall be exclusive forum for any such action, proceeding or claim. The Company and the
Warrant Agent hereby waive any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Notwithstanding
the foregoing, the provisions of this paragraph will not apply to suits brought to enforce any liability or duty created by the Exchange Act
or any other claim for which the federal district courts of the United States of America are the sole and exclusive forum.

 

Any person or entity purchasing or otherwise acquiring
any interest in the Warrants shall be deemed to have notice of and to have consented to the forum provisions in this Section 9.3.
If any action, the subject matter of which is within the scope the forum provisions above, is filed in a court other than a court located
within the State of New York or the United States District Court for the Southern District of New York (a “foreign
action”) in the name of any Warrant holder, such Warrant holder shall be deemed to have consented to: (x) the personal
jurisdiction of the state and federal courts located within the State of New York or the United States District Court for the
Southern District of New York in connection with any action brought in any such court to enforce the forum provisions (an “enforcement
action”), and (y) having service of process made upon such Warrant holder in any such enforcement action by service upon
such Warrant holder’s counsel in the foreign action as agent for such Warrant holder.

 

Any such process or summons to be served upon the
Company or the Warrant Agent may be served by transmitting a copy thereof by registered or certified mail, return receipt requested, postage
prepaid, addressed to it at the address set forth in Section 9.2 hereof. Such mailing shall be deemed personal service and
shall be legal and binding upon the party receiving such service in any action, proceeding or claim.

 

9.4 Persons Having
Rights under this Warrant Agreement. Nothing in this Warrant Agreement expressed and nothing that may be implied from any of the
provisions hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties
hereto and the Registered Holders of the Warrants and, for the purposes of Sections 2.5 hereof, the Representative and the
underwriters, any right, remedy, or claim under or by reason of this Warrant Agreement or of any covenant, condition, stipulation,
promise, or agreement hereof. All covenants, conditions, stipulations, promises, and agreements contained in this Warrant Agreement
shall be for the sole and exclusive benefit of the parties hereto and their successors and assigns and of the Registered Holders of
the Warrants.

 

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9.5 Examination of the Warrant Agreement.
A copy of this Warrant Agreement shall be available at all reasonable times at the office of the Warrant Agent in the Borough of Manhattan,
City and State of New York, for inspection by the Registered Holder of any Warrant. The Warrant Agent may require any such Registered
Holder to submit his, her or its Warrant for inspection.

 

9.6 Counterparts- Facsimile Signatures. This
Warrant Agreement may be executed in any number of counterparts, and each of such counterparts shall, for all purposes, be deemed to be
an original, and all such counterparts shall together constitute one and the same instrument. Facsimile signatures shall constitute original
signatures for all purposes of this Warrant Agreement.

 

9.7 Effect of Headings. The section headings
herein are for convenience only and are not part of this Warrant Agreement and shall not affect the interpretation there of

 

9.8 Amendments. This Warrant Agreement and
any Warrant certificate may be amended by the parties hereto by executing a supplemental warrant agreement (a “Supplemental Agreement”),
without the consent of any of the Warrant holders, for the purpose of (i) curing any ambiguity, or curing, correcting or supplementing
any defective provision contained herein, or making any other provisions with respect to matters or questions arising under this Warrant
Agreement that is not inconsistent with the provisions of this Warrant Agreement or the Warrant certificates, (ii) evidencing the
succession of another corporation to the Company and the assumption by any such successor of the covenants of the Company contained in
this Warrant Agreement and the Warrants, (iii) evidencing and providing for the acceptance of appointment by a successor Warrant
Agent with respect to the Warrants, (iv) adding to the covenants of the Company for the benefit of the Registered Holders or surrendering
any right or power conferred upon the Company under this Warrant Agreement, or (viii) amending this Warrant Agreement and the Warrants
in any manner that the Company may deem to be necessary or desirable and that will not adversely affect the interests of the Registered
Holders in any material respect. All other modifications or amendments to this Warrant Agreement, including any amendment to increase
the Warrant Price or shorten the Exercise Period and any amendment to the terms of only the Note Financing Warrants, shall require
the written consent of the Registered Holders of a majority of the then outstanding Warrants. Notwithstanding the foregoing, the Company
may extend the duration of the Exercise Period in accordance with Section 3.2 without such consent.

 

9.9 Severability. This Warrant Agreement
shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability
of this Warrant Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or
provision, the parties hereto intend that there shall be added as a part of this Warrant Agreement a provision as similar in terms to
such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

[SIGNATURE PAGE FOLLOWS]

 

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IN WITNESS WHEREOF, this Warrant Agreement has been
duly executed by the parties hereto as of the day and year first above written.

 

	 	VENTOUX CCM ACQUISITION CORP.
	 	 
	 	By:	 
	 	 	Name:	Edward Scheetz
	 	 	Title:	Chief Executive Officer
	 	 	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY
	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

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Exhibit A

Form of Warrant

SPECIMEN WARRANT CERTIFICATE

 

	NUMBER	 	[ ] WARRANTS
	WA-	 	 

 

(THIS WARRANT WILL BE VOID IF NOT EXERCISED PRIOR
TO 5:00 P.M.

NEW YORK CITY TIME, FIVE YEARS FROM THE CLOSING DATE OF THE COMPANY’S

INITIAL BUSINESS COMBINATION)

VENTOUX CCM ACQUISITION CORP.

 

CUSIP 92280L119

 

WARRANT

 

THIS WARRANT CERTIFIES THAT, for value received, or registered assigns,
is the registered holder of a Warrant or Warrants (the “Warrant”), expiring on a date which is five years from the completion
of the Company’s initial business combination, to purchase one-half of one fully paid and non-assessable share (the “Warrant
Shares”), of common stock, par value $0.0001 per share (the “Common Stock”), of Ventoux CCM Acquisition Corp., a Delaware
corporation (the “Company”), for each Warrant evidenced by this Warrant Certificate. This Warrant Certificate is subject to
and shall be interpreted under the terms and conditions of the Warrant Agreement (as defined below).

 

The Warrant entitles the holder thereof to purchase
from the Company, from time to time, in whole or in part, commencing on the later to occur of (i) the completion of the Company’s
initial business combination or (ii) twelve (12) months following the closing of the Company’s initial public offering,
such number of Warrant Shares at the Warrant Price (as defined in the Warrant Agreement), upon surrender of this Warrant Certificate and
payment of the Warrant Price at the office or agency of Continental Stock Transfer & Trust Company (the “Warrant Agent”),
such payment to be made subject to the conditions set forth herein and in the Warrant Agreement, dated [●], 2020, between the
Company and the Warrant Agent (the “Warrant Agreement”). In no event shall the registered holder(s) of this Warrant be
entitled to receive a net-cash settlement in lieu of physical settlement in Warrant Shares of the Company. The Warrant Agreement provides
that, upon the occurrence of certain events, the Warrant Price and the number of Warrant Shares purchasable hereunder, set forth on the
face hereof, may be adjusted, subject to certain conditions. The term Warrant Price as used in this Warrant Certificate refers to the
price per full Warrant Share at which Warrant Shares may be purchased at the time the Warrant is exercised.

 

This Warrant will expire on the date first referenced
above if it is not exercised prior to such date by the registered holder pursuant to the terms of the Warrant Agreement or if it is not
redeemed by the Company prior to such date.

 

No fractional shares will be issued upon any exercise
of a Warrant. If, upon exercise of a Warrant, a holder would be entitled to receive a fractional interest in a share, the Company will,
upon exercise, issue or cause to be issued only the largest whole number of Warrant Shares issuable on such exercise (and such fraction
of a share will be disregarded).

 

Upon any exercise of the Warrant for less than the
total number of full Warrant Shares provided for herein, there shall be issued to the registered holder(s) hereof or its assignee(s) a
new Warrant Certificate covering the number of Warrant Shares for which the Warrant has not been exercised.

 

Warrant Certificates, when surrendered at the office
or agency of the Warrant Agent by the registered holder(s) hereof in person or by attorney duly authorized in writing, may be exchanged
in the manner and subject to the limitations provided in the Warrant Agreement, but without payment of any service charge, for another
Warrant Certificate or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants.

 

Upon due presentment for registration of transfer
of the Warrant Certificate at the office or agency of the Warrant Agent, a new Warrant Certificate or Warrant Certificates of like tenor
and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s) in exchange for this Warrant Certificate,
subject to the limitations provided in the Warrant Agreement, without charge except for any applicable tax or other governmental charge.

 

    14

     

    

 

The Company and the Warrant Agent may deem and treat
the registered holder(s) as the absolute owner(s) of this Warrant Certificate (notwithstanding any notation of ownership or
other writing hereon made by anyone) for the purpose of any exercise hereof, of any distribution to the registered holder(s), and for
all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.

 

This Warrant does not entitle the registered holder(s) to
any of the rights of a stockholder of the Company.

 

After the Warrant becomes exercisable and prior
to its expiration date, the Company reserves the right to call the Warrant at any time, with a notice of call in writing to the holder(s) of
record of the Warrant, giving 30 days’ written notice of such call if the last reported sale price of the Common Stock has
been equal to or greater than (i) $16.50 per share in the case of the Note Financing Warrants and the Private Warrants or (ii)165% of
the volume weighted average trading price of the Common Stock during the 20 trading day period starting on the trading day prior to the
day on which the Company consummated the Merger in the case of the Public Warrants for any 20 trading for any 20 trading days within
a 30 trading day period ending on the third trading day prior to the date on which notice of such call is given, provided that (i) a
registration statement under the Securities Act of 1933, as amended (the “Act”) with respect to the shares of Common
Stock issuable upon exercise must be effective and a current prospectus must be available for use by the registered holders hereof or
(ii) the Warrants may be exercised on cashless basis as set forth in the Warrant Agreement and such cashless exercise is exempt from
registration under the Act. The call price is $0.01 per Warrant Share. No fractional shares will be issued upon exercise of the Warrant.

 

If the foregoing conditions are satisfied and the
Company calls the Warrant for redemption, each holder will then be entitled to exercise his, her or its Warrant prior to the date scheduled
for redemption; provided that the Company may require the Registered Holder who desires to exercise the Warrant, to elect cashless exercise
as set forth in the Warrant Agreement, and such Registered Holder must exercise the Warrants on a cashless basis if the Company so requires.
Any Warrant either not exercised or tendered back to the Company by the end of the date specified in the notice of call shall be canceled
on the books of the Company and have no further value except for the $0.01 call price.

 

	By	 	 
	 	Chief Executive Officer	 

 

    15

     

    

 

[REVERSE OF CERTIFICATE]

 

SUBSCRIPTION FORM

 

To Be Executed by the Registered Holder(s) in
Order to Exercise Warrants

 

The undersigned hereby irrevocably elects to exercise
the right, represented by this Warrant Certificate, to receive shares of Common Stock in accordance with the terms of this Warrant Certificate
and pursuant to the method selected below. Capitalized terms used herein and not otherwise defined have the respective meanings set forth
in the Warrant Certificate. PLEASE CHECK ONE METHOD OF PAYMENT:

 

	 	 	a “Cash Exercise” with respect to Warrant Shares; and/or
	 	 	 
	 	 	a “Cashless Exercise” with respect to Warrant Shares because on the date of this exercise, there is no effective registration statement registering the Warrant Shares, or the prospectus contained therein is not available for the resale of the Warrant Shares, in which event the Company shall deliver to the registered holder(s) shares of Common Stock pursuant to Section 3.3.2 of the Warrant Agreement.

 

The undersigned requests that a certificate for
such shares be registered in the name(s) of:

 

	 
	(PLEASE TYPE OR PRINT NAME(S) AND ADDRESS)
	 
	(SOCIAL SECURITY OR TAX IDENTIFICATION NUMBER(S))

 

and be delivered to

 

(PLEASE PRINT OR TYPE NAME(S) AND ADDRESS)

 

and, if such number of Warrants shall not be all the Warrants evidenced
by this Warrant Certificate, that a new Warrant Certificate for the balance of such Warrants be registered in the name of, and delivered
to, the registered holder(s) at the address(es) stated below:

 

	Dated:	 
	 	 
	(SIGNATURE(S))	 
	(ADDRESS(ES))	 
	 	 
	(TAX IDENTIFICATION NUMBER(S))	 

 

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ASSIGNMENT

 

To Be Executed by the Registered Holder in Order
to Assign Warrants

 

	For Value Received, hereby sell(s), assign(s), and transfer(s) unto
	 	 	 
	(PLEASE TYPE OR PRINT NAME(S) AND

ADDRESS(ES))
	 	 	 
	(SOCIAL SECURITY OR TAX IDENTIFICATION NUMBER(S))

 

and to be delivered to

 

	 	 	 	 	 
	 	 	(PLEASE PRINT OR TYPE NAME(S)	 	 
	 	 	AND ADDRESS(ES))	 	 

 

	 	 	 
	(SOCIAL SECURITY OR TAX IDENTIFICATION NUMBER(S))
	 

                    of the Warrants represented by this Warrant Certificate, and hereby irrevocably constitute and appoint Attorney to transfer this Warrant Certificate on the books of the Company, with full power of substitution in the premises.

                     

 

	Dated:	 	 
	 	 	 
	(SIGNATURE(S))	 	 

 

NOTICE: THE SIGNATURE(S) TO THIS ASSIGNMENT MUST CORRESPOND
WITH THE NAME AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.

 

	Signature(s) Guaranteed:	 	 
	 	 	 
	By	 	 	 	 
	 	 	 	 	 

 

THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION
(BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM,
PURSUANT TO S.E.C. RULE 17Ad-15).

 

 

17

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