Document:

EX-10.11

 Exhibit 10.11 

December 5th, 2018 
 Carl Decicco 

Dear Carl, 
 On behalf of Foghorn Therapeutics (the
“Company”), I am delighted to offer you employment with the Company. This offer letter (the “Offer Letter”) and the accompanying documents and agreements summarize and set forth important terms about your employment with the
Company. 
 1. Starting Date, Position, and Duties. 

a. Your initial position shall be Chief Scientific Officer. In your role, you shall report to the CEO. We anticipate that your
employment shall start on December 10th, 2019 (the “Start Date”). In this key position you shall have responsibility for driving the scientific direction of the Company. In your role you
are expected to build and supervise a team to execute against objectives and to develop and manage processes and systems to support these functions. It is understood that you will be employed by the Company in such capacity or such other capacity as
may be mutually agreed upon by the Company and you from time to time. As a member of our team, we expect you to devote all of your professional and working time and energies to the business and affairs of the Company. You shall not engage in non-Company related business activities (including board memberships and academic appointments) without Company’s prior written consent, provided that any such consented- to services do not interfere with the
performance of your duties hereunder, do not compete with Company, and do not otherwise violate the provisions of your Confidentiality Agreement (as described below); and (ii) upon your request in advance of same, Company in its sole discretion
may provide you with written consent to serve on other boards or committees (provided, again, that such consented-to services do not interfere with the performance of your duties hereunder, compete with
Company, or otherwise breach the provisions of your Confidentiality Agreement (as described below). 
 b. As is generally true for
Company employees, you shall be employed on an at- will basis, which means that neither you nor the Company are guaranteeing this employment relationship for any specific period of time. Either of us may
choose to end the employment relationship at any time, for any reason, with or without notice. If any benefit is subject to a benefit plan, the terms of that plan shall control. Other than the terms of this Offer Letter, the Company reserves the
right to alter, supplement or rescind its employment procedures, benefits or policies (other than the employment at-will policy) at any time in its sole and absolute discretion and without notice. 

2. Compensation. During your employment hereunder, as compensation for all services performed for the Company and its affiliates, the Company
will provide you with the following compensation and benefits: 
 a. Salary. Your initial base pay shall be at a rate of
$400,000 on an annualized basis, minus customary deductions for federal and state taxes and the like, and payable in accordance with the Company’s normal payroll practices. 

 b. Signing Bonus. In the first company pay cycle following your Start Date,
you shall receive a one time signing bonus in the amount of $85,000, less required deductions for federal and state taxes and other applicable withholdings. If, prior to the one-year anniversary of your Start
Date, you voluntary terminate your employment not following a “Resignation for Good Reason” (as defined below) or your employment is terminated by the Company for “Cause” (as defined below) such bonus is subject to repayment in
full. 
 c. Annual Performance Bonus. You shall be eligible to receive an annual bonus of up to 40% of your base salary,
payable upon the achievement, as determined by the Board of Directors of the Company (the “Board”) in its sole discretion, of specific milestones to be mutually agreed in writing. The annual bonus shall be paid to you no later than
March 15th of the calendar year immediately following the calendar year in which it was earned. You must be employed by the Company on the last day of the calendar year to which a bonus relates in order to be eligible for and have earned the annual
bonus. 
 d. Equity Grants. Subject to the terms and conditions of this Section 2.c. and any applicable policies and
agreements (including but not limited to the “Equity Plan” and “Equity Agreements” described below), you shall be eligible for the following grant: 
  

	 	i.	 Option Grant. Provided you commence employment with the Company on or before December 10th, 2019, subject to the approval of the Board, you will be granted an option to purchase 866,500 shares of common stock of the company at an exercise price equal to the fair market value of the stock
on the date of the grant as determined by the Board. This stock option shall vest 25% on the first anniversary of the grant date, and the remaining 75% of the stock option shall vest on a quarterly basis on the first day of each calendar quarter for
the 12 quarters thereafter, subject to your continued employment with the Company. 

  

	 	ii.	 Terms and Conditions. In all respects, the stock option described in this Section 2 shall be
governed by the 2016 Equity Incentive Plan (the “Equity Plan”) and an applicable Stock Option Agreement (as applicable, an “Equity Agreement”) executed by you pursuant thereto. The stock option described in this Section 2
shall be, to the maximum extent permissible, treated as “incentive stock options” within the meaning of Section 422 of the Internal Revenue Code and the rules and regulations thereunder. 

 

	 	iii.	 Accelerated Vesting. If you are subject to an Involuntary Termination (as defined below) outside of a
CIC Period (as defined below), then the vesting and, if applicable, the exercisability of each of your outstanding equity-based awards under the Equity Plan or any additional equity- based plan

  
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maintained by the Company or any applicable successor plans thereto shall be partially accelerated such that the number of shares subject to each such equity-based award that would have vested
during the 12 month period following your Separation (as defined below) (or, in the case of an equity-based award in which vesting of the shares is subject to the achievement of a performance-based condition, then 25% of the shares subject to such
equity-based award) shall remain outstanding and eligible to vest and be vested and, if applicable, exercisable as of the effective date of the Release (as defined below). In addition, if you are subject to an Involuntary Termination during the CIC
Period , then all of your then-unvested equity-based awards under the Equity Plan shall remain outstanding and eligible to vest and be fully accelerated and, if applicable, exercisable as of the effective date of the Release. 

e. Benefits. You shall be eligible to participate in the Company’s benefit plans to the same extent as, and subject to the
same terms, conditions and limitations applicable to, other Company employees of similar rank and tenure. Summaries of each of the Company’s benefit plans are available to you. These benefits may be modified, changed or eliminated from time to
time at the sole discretion of the Company, and the provision of such benefits does not change your status as an at-will employee. Where a particular benefit is subject to a formal plan (for example, medical
insurance or life insurance), eligibility to participate in and receive any particular benefit is governed solely by the applicable plan document. 

f. Travel and Lodging Allowance. The Company shall provide you with an allowance of $5,000 per month ($60,000 in total) for
reasonable travel expenses related to your commute between your home location in Pennsylvania and the Company’s office location in Cambridge, MA, and for reasonable lodging expenses in the Cambridge, MA vicinity. 

g. Expense Reimbursement. The Company shall reimburse you for all ordinary and reasonable out-of-pocket business expenses incurred in furtherance of the Company’s business in accordance with the Company’s policies with respect thereto as in effect from time to time. You must submit any
request for reimbursement no later than ninety (90) days following the date that such business expense is incurred. All reimbursements hereunder shall be made or provided in accordance with the requirements of Section 409A
(“Section 409A”) of the Internal Revenue Code and the rules and regulations thereunder (the “Code”) including, where applicable, the requirement that: (i) any reimbursement is for expenses incurred during your lifetime
(or during a shorter period of time specified in this Offer Letter); (ii) the amount of expenses eligible for reimbursement during a calendar year may not affect the expenses eligible for reimbursement in any other calendar year; (iii) the
reimbursement of an eligible expense shall be made no later than the last day of the calendar year following the year in which the expense is incurred; and (iv) the right to reimbursement or in kind benefits is not subject to liquidation or
exchange for another benefit. 

  
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 3. Severance Benefit upon Termination without Cause Following Change of Control. 

a. Notwithstanding the at-will nature of the parties’ relationship, should you be subject
to an Involuntary Termination, then conditioned upon your timely execution and non-revocation of a separation agreement containing a release of claims and other customary terms in the form provided by the
Company (the “Release”) and compliance with your Confidentiality Agreement described below then: (i) the Company shall provide you with a payment in an amount equal to (A) 9 months of your then current base salary plus (B) the
amount of any bonus previously awarded to you by the Board with respect to any calendar year concluded prior to the date of termination that remains unpaid as of the date of termination, payable, in each case ((A) and (B)), in the form of salary
continuation over the 9 month period following the date of separation, commencing on the first regular Company payday that is at least 5 business days following the effective date of the Release; (ii) (x) if the Company is subject to the
Consolidated Omnibus Budget Reconciliation Act (“COBRA”) or similar state law, (y) the premium subsidy described below is not illegal or discriminatory under the Code, the Patient Protection and Affordable Care Act or the Health Care
and Education Reconciliation Act, and (z) if you properly elect to receive benefits under COBRA, then the Company shall provide you with 9 months of your COBRA premiums at the Company’s normal rate of contribution for employees for your
coverage at the level in effect immediately prior to your termination; and (iii) subject to the terms and conditions of the Equity Plan and Equity Agreements, any portion of any stock option granted to you that remains outstanding as of the
date of separation and that has vested as of such date (or that vests in accordance with the provisions of Section 2(c)(iii) shall remain outstanding and exercisable for a period of 3 months following the Separation Date or, if earlier, the
normal 10-year expiration date of such stock options. 
 b. For purposes of this offer
letter, “Cause” means any one or more of the following actions: (i) your material breach of the terms of this Offer Letter or your breach of the terms of the Confidentiality Agreement; (ii) your material dishonesty,
willful misconduct, gross negligence, or reckless conduct in each case, if such conduct is in connection with the performance of your services to the Company or any of its affiliates; (iii) your commission of an act of fraud, theft,
misappropriation or embezzlement that is, in each case, materially injurious to the Company or an of its affiliates; (iv) your indictment of, or pleading nolo contendere to, any crime involving moral turpitude or any felony; or (v) your
material violation of a Company policy that had been previously provided to you in writing or your willful refusal to perform, or substantial negligence in the performance of, your assigned duties to the Company or any of its affiliates (other than
as a result of your mental or physical impairment). For purpose of clauses (i), (ii), (iii), and (v), “Cause” will only exist if: (1) the Company delivered to you a written description of the events or conditions giving rise to your
termination for Cause; and (2) if curable, you have been given at least 15 days to cure such events or conditions and you fail to cure such events or conditions within such time period given. 

c. For purposes of this offer letter, “Change of Control” means: (i) any “Person” (as such term is used in
Sections 13(d) and 14(d) of the Exchange Act) becomes the “Beneficial Owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 50%
or more of the total voting power represented by the Company’s then outstanding voting securities (excluding for this purpose any such voting securities held by the Company or its Affiliates or by any employee benefit plan of the Company)
pursuant to a transaction or a series of related transactions which the Board does not approve; or (ii) a merger or consolidation of the Company whether or not approved by the Board, other than a merger or

  
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consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into
voting securities of the surviving entity or the parent of such corporation) more than 50% of the total voting power represented by the voting securities of the Company or such surviving entity or parent of such corporation, as the case may be,
outstanding immediately after such merger or consolidation; or (iii) the sale or disposition by the Company of all or substantially all of the Company’s assets in a transaction requiring stockholder approval; notwithstanding the foregoing,
no transaction or series of transactions shall constitute a Change of Control unless such transaction or series of transactions constitutes a “change in control event” within the meaning of Treasury Regulation Section 1.409A-3(i)(5)(i). 
 d. For purposes of this offer letter, “CIC Period”
means the period commencing on the date that is three months prior to the date on which a Change of Control occurs and ending on the date that is 12 months following such occurrence. 

e. For purposes of this offer letter, “Involuntary Termination” means either (a) your Termination Without Cause
or (b) your Resignation for Good Reason. 
 f. For purposes of this offer letter, “Resignation for Good Reason”
means a Separation as a result of your resignation within 180 days after one of the following conditions has come into existence without your consent: 
  

	 	i.	 A reduction in your base salary other than in connection with an across-the-board reduction effecting all similarly situated executives of the Company; 

  

	 	ii.	 A material diminution of your title, authority, duties or responsibilities; or 

 

	 	iii.	 A material breach of this agreement by Company; or 

 

	 	iv.	 A relocation of your principal workplace by more than 50 miles. 

A Resignation for Good Reason will not be deemed to have occurred unless you give the Company written notice of the condition within 90 days after the
condition comes into existence and the Company fails to remedy the condition within 30 days after receiving your written notice. 

g. For purposes of this offer letter, “Separation” means a “separation from service,” as defined in the
regulations under Section 409A of the Code. 
 h. For purposes of this offer letter “Termination Without Cause”
means a Separation as a result of a termination of your employment by the Company without Cause (and not as a result of your death or disability), provided you are willing and able to continue performing services within the meaning of Treasury
Regulation 1.409A-l(n)(l). 
 i. Any severance payments paid under this Section 3 shall
commence within 60 days after the date of termination; provided, however, that if the 60-day period begins in one calendar year and ends in a second calendar year, the severance payments begin to be paid in
the second calendar year by the last day of such 60-day period; provided, further, that the initial payment shall 

  
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include a catch-up payment to cover amounts retroactive to the day immediately following the date of termination. Each payment pursuant to this Offer
Letter is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). 

j. Should you voluntarily terminate your employment for any reason (other than for Good Reason) or should your employment be terminated
for Cause (whether before or after a Change of Control) or as a result of your death or disability, then you shall not be entitled to any severance payments described herein. Nothing in this Section 3 shall alter your status as an at-will employee. 
 k. Vesting in the Event of a Change of Control or Death. Notwithstanding
anything to the contrary hereunder or in the Equity Plan or an applicable Equity Agreement, in the event of a Change of Control or your death, then you (or your estate, as applicable) automatically shall vest in all of the then-unvested shares
subject to the equity awards under the Plan as of the date of the consummation of such Change of Control or the date of death, as applicable. 
 4.
Certification. By signing this Offer Letter, you are certifying to the Company that: (a) your employment with the Company does not and shall not require you to breach any agreement entered into by you prior to employment with the Company
(i.e., you have not entered into any agreements with previous employers that are in conflict with your obligations to the Company); (b) to the extent you are subject to restrictive agreements with any prior employer that may affect your employment
with the Company, you have provided us with a copy of that agreement; (c) your employment with the Company does not violate any order, judgment or injunction applicable to you, and you have provided the Company with a copy of any such order,
judgment, or injunction; and (d) all facts you have presented to the Company are accurate and true, including all statements made to the Company pertaining to your education, training, qualifications, licensing and prior work experience on any
job application, resume or c.v., or in any interview. Please understand that the Company does not want you to disclose any confidential information belonging to a previous employer or to incorporate the proprietary information of any previous
employer into the Company’s proprietary information and expects that you shall abide by restrictive covenants to prior employers. 
 5.
Required 1-9 Documentation. Your employment with the Company is conditioned on your eligibility to work in the United States. For purposes of completing the INS
1-9 form, you must provide us sufficient documentation to demonstrate your identity and eligibility to work in the United States on or before your first day of employment. 

6. Confidentiality and Other Obligations. As part of your employment with the Company, you shall be exposed to, and provided with, valuable
confidential and trade secret information concerning the Company and its present and prospective clients. As a result, in order to protect the Company’s legitimate business interests, you agree, as a condition of your employment, to enter into
the enclosed Employee Non-Competition Agreement (the “Non-Compete Agreement”) and the Employee Non-Solicitation,
Confidentiality and Assignment of Inventions Agreement (the “Confidentiality Agreement”). You must sign and return the Confidentiality Agreement before beginning your employment with the Company. The
Non-Compete Agreement must be signed after you have had the requisite ten business days to review. 

  
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 7. Section 409A and 280G of the Code. 

a. Notwithstanding any other provision of this Offer Letter to the contrary, if any amount (including imputed income) to be paid to you
pursuant to this Offer Letter as a result of your termination of employment is “deferred compensation” subject to Section 409A of the Code, and if you are a “Specified Employee” (as defined under Section 409A of the
Code) as of the date of your termination of employment hereunder, then, to the extent necessary to avoid the imposition of excise taxes or other penalties under Section 409A of the Code, the payment of benefits, if any, scheduled to be paid by
the Company to you hereunder during the first 6-month period following the date of a termination of employment hereunder shall not be paid until the date which is the first business day after six
(6) months have elapsed since your termination of employment for any reason other than death. Any deferred compensation payments delayed in accordance with the terms of this Section 6.a. shall be paid in a lump sum after 6-months have elapsed since your termination of employment. Any other payments shall be made according to the schedule provided for herein. 

b. If any of the benefits set forth in this Offer Letter are “deferred compensation” under Section 409A of the Code, any
termination of employment triggering payment of such benefits must constitute a “separation from service” under Section 409A of the Code before distribution of such benefits can commence. To the extent that the termination of your
employment does not constitute a “separation from service” under Section 409A of the Code (as the result of further services that are reasonably anticipated to be provided by you to the Company at the time your employment terminates),
any benefits payable under this Offer Letter that constitute “deferred compensation” under Section 409A of the Code shall be delayed until after the date of a subsequent event constituting a “separation from service” under
Section 409A of the Code. For purposes of clarification, this Section 6.b. shall not cause any forfeiture of benefits on your part, but shall only act as a delay until such time as a “separation from service” occurs. 

c. It is intended that each installment of the payments and benefits provided under this Offer Letter shall be treated as a separate
“payment” for purposes of Section 409A of the Code. Neither the Company nor you shall have the right to accelerate or defer the delivery of any such payments or benefits except to the extent specifically permitted or required by
Section 409A of the Code. 
 d. This Offer Letter shall be interpreted and at all times administered in a manner that avoids the
inclusion of compensation in income under Section 409A of the Code. Any provision inconsistent with Section 409A of the Code shall be read out of the Offer Letter. For purposes of clarification, this Section 6.d. shall be a rule of
construction and interpretation and nothing in this Section 6.d. shall cause a forfeiture of benefits on the part of you. You acknowledge and agree that the Company does not guarantee the tax treatment or tax consequences associated with any
payment or benefit arising under this Offer Letter, including but not limited to consequences related to Section 409A of the Code. 

e. If any payment or benefit you would receive under this Offer Letter, when combined with any other payment or benefit you receive
pursuant to a Change of Control (for purposes of this section, a “Payment”) would: (i) constitute a “parachute payment” within the meaning of Section 280G the Code; and (ii) but for this sentence, be subject to the
excise tax 

  
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imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment shall be either: (A) the full amount of such Payment; or (B) such lesser amount as would result
in no portion of the Payment being subject to the Excise Tax, whichever of the foregoing amounts, taking into account the applicable federal, state and local employments taxes, income taxes and the Excise Tax, results in your receipt, on an after-tax basis, of the greater amount of the Payment notwithstanding that all or some portion of the Payment may be subject to the Excise Tax. With respect to subsection (B), if there is more than one method of
reducing the payment as would result in no portion of the Payment being subject to the Excise Tax, then you shall determine which method shall be followed, provided that if you fail to make such determination within five (5) days after Company
has sent you written notice of the need for such reduction, Company may determine the amount of such reduction in its sole discretion. 
 8.
General. This Offer Letter, together with the Confidentiality Agreement and the restricted stock and option agreements and any other agreements specifically referred to herein, embodies the entire agreement and understanding between the
parties hereto with respect to the subject matter hereof, and supersedes all prior oral or written agreements and understandings relating to the subject matter hereof. The terms and provisions of this Offer Letter may be modified or amended only by
written agreement executed by the parties hereto, and may be waived (or consent for the departure there from granted) only by a written document executed by the party entitled to the benefits of such terms or provisions. The Company may assign its
rights and obligations hereunder to any person or entity that succeeds to all or substantially all of the Company’s business. You may not assign your rights and obligations hereunder without the prior written consent of the Company and any such
attempted assignment by you without the prior written consent of the Company shall be void. This Offer Letter and the rights and obligations of the parties hereunder shall be construed in accordance with and governed by the internal law of
Massachusetts, without giving effect to the conflict of law principles of any jurisdiction. By accepting this offer of employment, you agree that any action, demand, claim or counterclaim in connection with any aspect of your employment with the
Company, or any separation of employment (whether voluntary or involuntary) from the Company, shall be brought in the courts of Massachusetts or of the United States of America for the District of Massachusetts, and shall be resolved by a judge
alone, and you waive and forever renounce your right to a trial before a civil jury. 
 9. Indemnification. The Company shall indemnify and
hold you harmless for any liability, including reasonable attorneys1 fees and costs, incurred by reason of any act or omission by you in your capacity as an employee and/or officer of the Company
to the extent permitted by the Company’s certificate of incorporation, as amended. 

  
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 This offer shall remain open, unless sooner revoked by the Company, through XX 2018. Please acknowledge
acceptance of this employment offer by signing and dating below. Keep one copy for your files and return one executed copy to me. 
 We greatly look forward
to having you on the team. 
  

			
	Very truly yours,
	
	Foghorn Therapeutics
		
	By:	 	 /s/ Adrian Gottschalk

		 	Adrian Gottschalk, CEO

  

	
	Agreed and Agreed to:
	
	 /s/ Carl Decicco

	Carl Decicco
	
	 December 10, 2018

	Date

  
 - 9 -Exhibit 10.6

 

THIS
PROMISSORY NOTE (“NOTE”) HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”). THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION
OF THE RESALE THEREOF UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO
THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.  

 

PROMISSORY NOTE

 

	Principal Amount:  Up to $300,000	Dated as of August 26, 2020

New York, New York

 

Atlas Crest Investment
Corp., a Delaware corporation and blank check company (the “Maker”), promises to pay to the order of Atlas
Crest Investment LLC or its registered assigns or successors in interest (the
“Payee”), or order, the principal sum of up to Three Hundred Thousand Dollars ($300,000) in lawful money of
the United States of America, on the terms and conditions described below.  All payments on this Note shall be made by
check or wire transfer of immediately available funds or as otherwise determined by the Maker to such account as the Payee may
from time to time designate by written notice in accordance with the provisions of this Note.

 

1. Principal. The principal
balance of this Note shall be payable by the Maker on the earlier of: (i) March 31, 2021 or (ii) the date on which Maker consummates
an initial public offering of its securities. The principal balance may be prepaid at any time. Under no circumstances shall
any individual, including but not limited to any officer, director, employee or shareholder of the Maker, be obligated personally
for any obligations or liabilities of the Maker hereunder.

 

2. Interest. No interest
shall accrue on the unpaid principal balance of this Note.

 

3. Drawdown Requests. Maker
and Payee agree that Maker may request up to Three Hundred Thousand Dollars ($300,000) for costs reasonably related to Maker’s
initial public offering of its securities. The principal of this Note may be drawn down from time to time prior to the earlier
of: (i) March 31, 2021 or (ii) the date on which Maker consummates an initial public offering of its securities, upon written request
from Maker to Payee (each, a “Drawdown Request”). Each Drawdown Request must state the amount to be drawn down,
must not be an amount less than Ten Thousand Dollars ($10,000) unless agreed upon by Maker and Payee and shall be reflected on
Schedule A. Payee shall fund each Drawdown Request no later than five (5) business days after receipt of a Drawdown Request; provided,
however, that the maximum amount of drawdowns collectively under this Note is Three Hundred Thousand Dollars ($300,000). Once an
amount is drawn down under this Note, it shall not be available for future Drawdown Requests even if prepaid. No fees, payments
or other amounts shall be due to Payee in connection with, or as a result of, any Drawdown Request by Maker. Notwithstanding the
foregoing, all payments shall be applied first to payment in full of any costs incurred in the collection of any sum due under
this Note, including (without limitation) reasonable attorneys’ fees, and then to the reduction of the unpaid principal balance
of this Note.

 

4. Application of Payments. All
payments shall be applied first to payment in full of any costs incurred in the collection of any sum due under this Note, including
(without limitation) reasonable attorney’s fees, then to the payment in full of any late charges and finally to the reduction
of the unpaid principal balance of this Note.

 

5. Events of Default. The
following shall constitute an event of default (“Event of Default”):

 

(a) Failure
to Make Required Payments. Failure by Maker to pay the principal amount due pursuant to this Note within five (5) business
days of the date specified above.

 

(b) Voluntary
Bankruptcy, Etc. The commencement by Maker of a voluntary case under any applicable bankruptcy, insolvency, reorganization,
rehabilitation or other similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator,
assignee, trustee, custodian, sequestrator (or other similar official) of Maker or for any substantial part of its property, or
the making by it of any assignment for the benefit of creditors, or the failure of Maker generally to pay its debts as such debts
become due, or the taking of corporate action by Maker in furtherance of any of the foregoing.

 

     

     

    

  

(c) Involuntary
Bankruptcy, Etc. The entry of a decree or order for relief by a court having jurisdiction in the premises in respect of Maker
in an involuntary case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator,
assignee, custodian, trustee, sequestrator (or similar official) of Maker or for any substantial part of its property, or ordering
the winding-up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period
of 60 consecutive days.

  

6. Remedies.

 

(a) Upon the occurrence
of an Event of Default specified in Section 5(a) hereof, Payee may, by written notice to Maker, declare this Note to be due immediately
and payable, whereupon the unpaid principal amount of this Note, and all other amounts payable hereunder, shall become immediately
due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, anything
contained herein or in the documents evidencing the same to the contrary notwithstanding. 

 

(b) Upon the occurrence
of an Event of Default specified in Sections 5(b) and 5(c), the unpaid principal balance of this Note, and all other sums payable
with regard to this Note, shall automatically and immediately become due and payable, in all cases without any action on the part
of Payee.

 

7. Waivers. Maker and all
endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice of dishonor, protest, and
notice of protest with regard to the Note, all errors, defects and imperfections in any proceedings instituted by Payee under the
terms of this Note, and all benefits that might accrue to Maker by virtue of any present or future laws exempting any property,
real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or sale under execution,
or providing for any stay of execution, exemption from civil process, or extension of time for payment; and Maker agrees that any
real estate that may be levied upon pursuant to a judgment obtained by virtue hereof or any writ of execution issued hereon, may
be sold upon any such writ in whole or in part in any order desired by Payee.

 

8. Unconditional Liability. Maker
hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement of the payment of this
Note, and agrees that its liability shall be unconditional, without regard to the liability of any other party, and shall not be
affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or consented to by Payee,
and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted by Payee with respect to
the payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors, or sureties may become
parties hereto without notice to Maker or affecting Maker’s liability hereunder.

 

9. Notices. All notices,
statements or other documents which are required or contemplated by this Note shall be made in writing and delivered: (i) personally
or sent by first class registered or certified mail, overnight courier service or facsimile or electronic transmission to the address
designated in writing, (ii) by facsimile to the number most recently provided to such party or such other address or fax number
as may be designated in writing by such party or (iii) by electronic mail, to the electronic mail address most recently provided
to such party or such other electronic mail address as may be designated in writing by such party. Any notice or other communication
so transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the business day following
receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business day after delivery to an overnight
courier service or five (5) days after mailing if sent by mail.

 

10. Construction. THIS
NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF DELAWARE, WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS THEREOF.

 

11. Severability. Any provision
contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition
or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

    2

     

    

 

12. Trust Waiver.  Notwithstanding
anything herein to the contrary, the Payee hereby waives any and all right, title, interest or claim of any kind (“Claim”)
in or to any distribution of or from the trust account to be established in which the proceeds of the initial public offering (the
“IPO”) to be conducted by the Maker (including the deferred underwriters discounts and commissions) and the
proceeds of the sale of the warrants to be issued in a private placement to occur prior to the closing of the IPO are to be deposited,
as described in greater detail in the registration statement and prospectus to be filed with the Securities and Exchange Commission
in connection with the IPO, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against
the trust account for any reason whatsoever.

 

13. Amendment; Waiver.  Any
amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent of the Maker and the Payee.

 

14. Assignment. No assignment
or transfer of this Note or any rights or obligations hereunder may be made by any party hereto (by operation of law or otherwise)
without the prior written consent of the other party hereto and any attempted assignment without the required consent shall be
void.

 

    3

     

    

 

IN WITNESS WHEREOF,
Maker, intending to be legally bound hereby, has caused this Note to be duly executed by the undersigned as of the day and year
first above written.

 

	 	ATLAS CREST INVESTMENT CORP.
	 	 	   
	 	By:	/s/ Kenneth Moelis
	 	 	Name:	Kenneth
    Moelis
	 	 	Title:	Chairman and Interim Chief Executive Officer

 

     

     

    

 

Schedule A

 

	Date of Drawdown	 	Amount	 	Use of Funds

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