Document:

Exhibit 10.3

 

REGISTRATION
RIGHTS AGREEMENT

 

THIS
REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of December 12, 2018, is made and entered
into by and among CF Finance Acquisition Corp., a Delaware corporation (the “Company”), CF Finance Holdings
LLC, a Delaware limited liability company (the “Sponsor”) and each of the undersigned individuals (together
with the Sponsor and any person or entity who hereafter becomes a party to this Agreement pursuant to Section 5.2 of this
Agreement, a “Holder” and collectively the “Holders”).

 

RECITALS

 

WHEREAS,
the Sponsor owns an aggregate of 7,187,500 shares (the “Initial Founder Shares”) of the Company’s
Class B common stock, par value $0.0001 per share, up to 937,500 of which will be forfeited to the Company for no consideration
depending on the extent to which the underwriters of the Company’s initial public offering exercise their over-allotment
option (the “Class B Common Stock”);

 

WHEREAS,
the Founder Shares are convertible into shares of the Company’s Class A common stock, par value $0.0001 per share (the “Common
Stock”), on the terms and conditions provided in the Company’s amended and restated certificate of incorporation;

 

WHEREAS,
on December 12, 2018, the Company and the Sponsor entered into that certain Private Placement Units Purchase Agreement, pursuant
to which the Sponsor agreed to purchase 600,000 units (the “Private Placement Units”), each Private
Placement Unit consisting of one share of Common Stock and three-quarters of one warrant (“Private Placement Warrant”),
in a private placement transaction occurring simultaneously with the closing of the Company’s initial public offering; each
whole Private Placement Warrant entitles the holder thereof to purchase one share of Common Stock at a price of $11.50 per share;

 

WHEREAS,
in order to fund the trust account in connection with the Company’s initial public offering, the Sponsor has agreed to loan
to the Company $2,500,000 (or $2,875,000 if the underwriter’s over-allotment is exercised in full), which may be convertible
into units (“Sponsor Loan Units”) at a price of $10.00 per unit;

 

WHEREAS,
in order to finance the Company’s transaction costs in connection with an intended initial Business Combination (as defined
below), the Sponsor has committed to loan $750,000 to the Company, and the Sponsor or an affiliate of the Sponsor or certain of
the Company’s executive officers and directors may, but are not obligated to, loan to the Company additional funds as the
Company may require, of which up to $1,500,000 of such loans (in the case of loans in excess of the initial $750,000 loan commitment,
only if such loans are made to the Company more than 90 days after the effective date of the registration statement relating to
the Company’s initial public offering) may be convertible into warrants (“Working Capital Warrants”)
at a price of $1.00 per warrant;

 

WHEREAS,
on December 12, 2018, the Company entered into that certain Forward Purchase Contract with the Sponsor, pursuant to which the
Sponsor has agreed to purchase (i) 3,000,000 units (the “Forward Purchase Units”), each such unit comprised
of one share of Class A Common Stock and three-quarters of one warrant, and (ii) 750,000 shares of Class A Common Stock (the “Forward
Purchase Founder Shares” and together with the Initial Founder Shares, the “Founder Shares”);
and

 

WHEREAS,
the Company and the Holders desire to enter into this Agreement, pursuant to which the Company shall grant the Holders certain
registration rights with respect to certain securities of the Company, as set forth in this Agreement. 

 

     

     

    

 

NOW,
THEREFORE, in consideration of the representations, covenants and agreements contained herein, and certain other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally
bound, hereby agree as follows:

 

ARTICLE
I

DEFINITIONS

 

1.1
Definitions. The terms defined in this Article I shall, for all purposes of this Agreement, have the respective
meanings set forth below:

 

“Adverse
Disclosure” shall mean any public disclosure of material non-public information, which disclosure, in the good faith
judgment of the Chief Executive Officer or principal financial officer of the Company, after consultation with counsel to the
Company, (i) would be required to be made in any Registration Statement or Prospectus in order for the applicable Registration
Statement or Prospectus not to contain any untrue statement of a material fact or omit to state a material fact necessary to make
the statements contained therein (in the case of any prospectus and any preliminary prospectus, in the light of the circumstances
under which they were made) not misleading, (ii) would not be required to be made at such time if the Registration Statement were
not being filed, and (iii) the Company has a bona fide business purpose for not making such information public.

 

“Agreement”
shall have the meaning given in the Preamble.

 

“Board”
shall mean the Board of Directors of the Company.

 

“Business
Combination” shall mean any merger, capital stock exchange, asset acquisition, stock purchase, reorganization or
other similar business combination with one or more businesses, involving the Company.

 

“Commission”
shall mean the Securities and Exchange Commission.

 

“Common
Stock” shall have the meaning given in the Recitals hereto.

 

“Company”
shall have the meaning given in the Preamble.

 

“Demand
Registration” shall have the meaning given in subsection 2.1.1.

 

“Demanding
Holder” shall have the meaning given in subsection 2.1.1.

 

“Exchange
Act” shall mean the Securities Exchange Act of 1934, as it may be amended from time to time.

 

“Form
S-1” shall have the meaning given in subsection 2.1.1.

 

“Form
S-3” shall have the meaning given in subsection 2.3.

 

“Forward
Purchase Founder Shares” shall have the meaning given in the Recitals hereto.

 

“Forward
Purchase Units” shall have the meaning given in the Recitals hereto.

 

“Founder
Shares” shall have the meaning given in the Recitals hereto.

 

“Founder
Shares Lock-up Period” shall mean, with respect to the Founder Shares, the period ending on the earlier of (A) one
year after the completion of the Company’s initial Business Combination or (B) subsequent to the Business Combination, (x)
if the last reported sale price of the Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends,
reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least
150 days after the Company’s initial Business Combination or (y) the date on which the Company completes a liquidation,
merger, capital stock exchange, reorganization or other similar transaction that results in all of the Company’s stockholders
having the right to exchange their shares of Common Stock for cash, securities or other property.

 

“Holders”
shall have the meaning given in the Preamble.

 

“Initial
Founder Shares” shall have the meaning given in the Recitals hereto and shall be deemed to include the shares of
Common Stock issuable upon conversion thereof.

 

     

     

    

 

“Insider
Letter” shall mean that certain letter agreement, dated as of December 12, 2018, by and among the Company, the Sponsor
and each of the Company’s officers, directors and director nominees.

 

“Maximum
Number of Securities” shall have the meaning given in subsection 2.1.4.

 

“Misstatement”
shall mean an untrue statement of a material fact or an omission to state a material fact required to be stated in a Registration
Statement or Prospectus, or necessary to make the statements in a Registration Statement or Prospectus (in the case of any prospectus
and any preliminary prospectus, in the light of the circumstances under which they were made) not misleading.

 

“Permitted
Transferees” shall mean any person or entity to whom a Holder of Registrable Securities is permitted to transfer
such Registrable Securities prior to the expiration of the Founder Shares Lock-up Period or Private Placement Lock-up Period,
as the case may be, under the Insider Letter, the Private Placement Unit Purchase Agreement, this Agreement and any other applicable
agreement between such Holder and the Company, and to any transferee thereafter.

 

“Piggyback
Registration” shall have the meaning given in subsection 2.2.1.

 

“Private
Placement Lock-up Period” shall mean, with respect to Private Placement Units (and their component securities),
Sponsor Loan Units (and their component securities) and Working Capital Warrants (and their component securities) that are held
by the initial holders of such Private Placement Units, Sponsor Loan Units or Working Capital Warrants or their Permitted Transferees
(and their component securities), the period ending 30 days after the completion of the Company’s initial Business Combination.

 

“Private
Placement Units” shall have the meaning given in the Recitals hereto.

 

“Private
Placement Warrants” shall have the meaning given in the Recitals hereto.

 

“Prospectus”
shall mean the prospectus included in any Registration Statement, as supplemented by any and all prospectus supplements and as
amended by any and all post-effective amendments and including all material incorporated by reference in such prospectus.

 

“Registrable
Security” shall mean (a) the Founder Shares and the shares of Common Stock issued or issuable upon the conversion
of any Initial Founder Shares, (b) the Private Placement Units (including any shares of Common Stock included in the Private Placement
Units, any Private Placement Warrants and any shares of Common Stock issued or issuable upon the exercise of the Private Placement
Warrants) and Sponsor Loan Units (including any shares of Common Stock issued or issuable upon the exercise of any such Sponsor
Loan Units, any warrants included in such Sponsor Loan Units and any shares of Common Stock issued or issuable upon the exercise
of the warrants included in such Sponsor Loan Units) (c) the Forward Purchase Units (including any shares of Common Stock included
in such Forward Purchase Units, any warrants included in such Forward Purchase Units and any shares of Common Stock issued or
issuable upon the exercise of the warrants included in such Forward Purchase Units), (d) any outstanding share of Common Stock
or any other equity security (including the shares of Common Stock issued or issuable upon the exercise of any other equity security)
of the Company held by a Holder as of the date of this Agreement, (e) any equity securities (including the shares of Common Stock
issued or issuable upon the exercise of any such equity security) of the Company issuable upon conversion of any working capital
loans in an amount up to $1,500,000 made to the Company by a Holder (including the Working Capital Warrants, which include any
shares of Common Stock issued or issuable upon the exercise of the Working Capital Warrants), and (f) any other equity security
of the Company issued or issuable with respect to any such share of Common Stock by way of a stock dividend or stock split or
in connection with a combination of shares, recapitalization, merger, consolidation or reorganization; provided, however,
that, as to any particular Registrable Security, such securities shall cease to be Registrable Securities when: (A) a Registration
Statement with respect to the sale of such securities shall have become effective under the Securities Act and such securities
shall have been sold, transferred, disposed of or exchanged in accordance with such Registration Statement; (B) such securities
shall have been otherwise transferred, new certificates for such securities not bearing a legend restricting further transfer
shall have been delivered by the Company and subsequent public distribution of such securities shall not require registration
under the Securities Act; (C) such securities shall have ceased to be outstanding; (D) such securities have been sold without
registration pursuant to Rule 144 promulgated under the Securities Act (or any successor rule promulgated thereafter by the Commission);
or (E) such securities have been sold to, or through, a broker, dealer or underwriter in a public distribution or other public
securities transaction.

 

     

     

    

 

“Registration”
shall mean a registration effected by preparing and filing a registration statement or similar document in compliance with the
requirements of the Securities Act, and the applicable rules and regulations promulgated thereunder, and such registration statement
becoming effective.

 

“Registration
Expenses” shall mean the out-of-pocket expenses of a Registration, including, without limitation, the following:

 

(A)
all registration and filing fees (including fees with respect to filings required to be made with the Financial Industry Regulatory
Authority, Inc.) and any securities exchange on which the Common Stock is then listed;

 

(B)
fees and expenses of compliance with securities or blue sky laws (including reasonable fees and disbursements of counsel for the
Underwriters in connection with blue sky qualifications of Registrable Securities);

 

(C)
printing, messenger, telephone and delivery expenses;

 

(D)
reasonable fees and disbursements of counsel for the Company;

 

(E)
reasonable fees and disbursements of all independent registered public accountants of the Company incurred specifically in connection
with such Registration; and

 

(F)
reasonable fees and expenses of one (1) legal counsel selected by the majority-in-interest of the Demanding Holders initiating
a Demand Registration to be registered for offer and sale in the applicable Registration.

 

“Registration
Statement” shall mean any registration statement that covers the Registrable Securities pursuant to the provisions
of this Agreement, including the Prospectus included in such registration statement, amendments (including post-effective amendments)
and supplements to such registration statement, and all exhibits to and all material incorporated by reference in such registration
statement.

 

“Requesting
Holder” shall have the meaning given in subsection 2.1.1.

 

“Securities
Act” shall mean the Securities Act of 1933, as amended from time to time.

 

“Sponsor”
shall have the meaning given in the Recitals hereto.

 

“Sponsor
Loan Units” shall have the meaning given in the Recitals hereto.

 

“Underwriter”
shall mean a securities dealer who purchases any Registrable Securities as principal in an Underwritten Offering and not as part
of such dealer’s market-making activities.

 

“Underwritten
Registration” or “Underwritten Offering” shall mean a Registration in which securities
of the Company are sold to an Underwriter in a firm commitment underwriting for distribution to the public.

 

“Working
Capital Warrants” shall have the meaning given in the Recitals hereto.

 

     

     

    

 

ARTICLE
II

REGISTRATIONS

 

2.1
Demand Registration.

 

2.1.1
Request for Registration. Subject to the provisions of subsection 2.1.4 and Section 2.4 hereof, at any time
and from time to time on or after the date the Company consummates the Business Combination, the Holders of at least a majority
in interest of the then-outstanding number of Registrable Securities (the “Demanding Holders”) may make
a written demand for Registration of all or part of their Registrable Securities, which written demand shall describe the amount
and type of securities to be included in such Registration and the intended method(s) of distribution thereof (such written demand
a “Demand Registration”). The Company shall, within ten (10) days of the Company’s receipt of
the Demand Registration, notify, in writing, all other Holders of Registrable Securities of such demand, and each Holder of Registrable
Securities who thereafter wishes to include all or a portion of such Holder’s Registrable Securities in a Registration pursuant
to a Demand Registration (each such Holder that includes all or a portion of such Holder’s Registrable Securities in such
Registration, a “Requesting Holder”) shall so notify the Company, in writing, within five (5) days after
the receipt by the Holder of the notice from the Company. Upon receipt by the Company of any such written notification from a
Requesting Holder(s) to the Company, such Requesting Holder(s) shall be entitled to have their Registrable Securities included
in a Registration pursuant to a Demand Registration and the Company shall effect, as soon thereafter as practicable, the Registration
of all Registrable Securities requested by the Demanding Holder(s) and Requesting Holder(s) pursuant to such Demand Registration,
including by filing a Registration Statement relating thereto as soon as practicable, but not more than forty five (45) days immediately
after the Company’s receipt of the Demand Registration. Under no circumstances shall the Company be obligated to effect
more than an aggregate of three (3) Registrations pursuant to a Demand Registration under this subsection 2.1.1 with respect
to any or all Registrable Securities; provided, however, that a Registration shall not be counted for such purposes
unless a Form S-1 or any similar long-form registration statement that may be available at such time (“Form S-1”)
has become effective and all of the Registrable Securities requested by the Requesting Holders to be registered on behalf of the
Requesting Holders in such Form S-1 Registration have been sold, in accordance with Section 3.1 of this Agreement.

 

2.1.2
Effective Registration. Notwithstanding the provisions of subsection 2.1.1 above or any other part of this Agreement,
a Registration pursuant to a Demand Registration shall not count as a Registration unless and until (i) the Registration Statement
filed with the Commission with respect to a Registration pursuant to a Demand Registration has been declared effective by the
Commission and (ii) the Company has complied with all of its obligations under this Agreement with respect thereto; provided,
further, that if, after such Registration Statement has been declared effective, an offering of Registrable Securities
in a Registration pursuant to a Demand Registration is subsequently interfered with by any stop order or injunction of the Commission,
federal or state court or any other governmental agency the Registration Statement with respect to such Registration shall be
deemed not to have been declared effective, unless and until, (a) such stop order or injunction is removed, rescinded or otherwise
terminated, and (b) a majority-in-interest of the Demanding Holders initiating such Demand Registration thereafter affirmatively
elect to continue with such Registration and accordingly notify the Company in writing, but in no event later than five (5) days,
of such election; and provided, further, that the Company shall not be obligated or required to file another Registration
Statement until the Registration Statement that has been previously filed with respect to a Registration pursuant to a Demand
Registration becomes effective or is subsequently terminated.

 

2.1.3
Underwritten Offering. Subject to the provisions of subsection 2.1.4 and Section 2.4 hereof, if a majority-in-interest
of the Demanding Holders so advise the Company as part of their Demand Registration that the offering of the Registrable Securities
pursuant to such Demand Registration shall be in the form of an Underwritten Offering, then the right of such Demanding Holder
or Requesting Holder (if any) to include its Registrable Securities in such Registration shall be conditioned upon such Holder’s
participation in such Underwritten Offering and the inclusion of such Holder’s Registrable Securities in such Underwritten
Offering to the extent provided herein. All such Holders proposing to distribute their Registrable Securities through an Underwritten
Offering under this subsection 2.1.3 shall enter into an underwriting agreement in customary form with the Underwriter(s)
selected for such Underwritten Offering by the majority-in-interest of the Demanding Holders initiating the Demand Registration.

 

     

     

    

 

2.1.4
Reduction of Underwritten Offering. If the managing Underwriter or Underwriters in an Underwritten Registration pursuant
to a Demand Registration, in good faith, advises the Company, the Demanding Holders and the Requesting Holders (if any) in writing
that the dollar amount or number of Registrable Securities that the Demanding Holders and the Requesting Holders (if any) desire
to sell, taken together with all other Common Stock or other equity securities that the Company desires to sell and the shares
of Common Stock, if any, as to which a Registration has been requested pursuant to separate written contractual piggy-back registration
rights held by any other stockholders who desire to sell, exceeds the maximum dollar amount or maximum number of equity securities
that can be sold in the Underwritten Offering without adversely affecting the proposed offering price, the timing, the distribution
method, or the probability of success of such offering (such maximum dollar amount or maximum number of such securities, as applicable,
the “Maximum Number of Securities”), then the Company shall include in such Underwritten Offering, as
follows: (i) first, the Registrable Securities of the Demanding Holders and the Requesting Holders (if any) (pro rata based on
the respective number of Registrable Securities that each Demanding Holder and Requesting Holder (if any) has requested be included
in such Underwritten Registration and the aggregate number of Registrable Securities that the Demanding Holders and Requesting
Holders have requested be included in such Underwritten Registration (such proportion is referred to herein as “Pro
Rata”)) that can be sold without exceeding the Maximum Number of Securities; (ii) second, to the extent that the
Maximum Number of Securities has not been reached under the foregoing clause (i), the Registrable Securities of Holders (Pro Rata,
based on the respective number of Registrable Securities that each Holder has so requested) exercising their rights to register
their Registrable Securities pursuant to subsection 2.2.1 hereof, without exceeding the Maximum Number of Securities; (iii)
third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (i) and (ii), Common
Stock or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum Number of Securities;
and (iv) fourth, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (i), (ii)
and (iii), Common Stock or other equity securities of other persons or entities that the Company is obligated to register in a
Registration pursuant to separate written contractual arrangements with such persons and that can be sold without exceeding the
Maximum Number of Securities.

 

2.1.5
Demand Registration Withdrawal. A majority-in-interest of the Demanding Holders initiating a Demand Registration or a majority-in-interest
of the Requesting Holders (if any), pursuant to a Registration under subsection 2.1.1 shall have the right to withdraw
from a Registration pursuant to such Demand Registration for any or no reason whatsoever upon written notification to the Company
and the Underwriter or Underwriters (if any) of their intention to withdraw from such Registration prior to the effectiveness
of the Registration Statement filed with the Commission with respect to the Registration of their Registrable Securities pursuant
to such Demand Registration. Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for
the Registration Expenses incurred in connection with a Registration pursuant to a Demand Registration prior to its withdrawal
under this subsection 2.1.5; provided that if the Company pays such expenses related to a Demand Registration initiated
by the Sponsor, such registration shall count as a Demand Registration for purposes of Section 3.6.

 

2.2
Piggyback Registration.

 

2.2.1
Piggyback Rights. If, at any time on or after the date the Company consummates a Business Combination, the Company proposes
to file a Registration Statement under the Securities Act with respect to an offering of equity securities, or securities or other
obligations exercisable or exchangeable for, or convertible into equity securities, for its own account or for the account of
stockholders of the Company (or by the Company and by the stockholders of the Company including, without limitation, pursuant
to Section 2.1 hereof), other than a Registration Statement (i) filed in connection with any employee stock option or other
benefit plan, (ii) for an exchange offer or offering of securities solely to the Company’s existing stockholders, (iii)
for an offering of debt that is convertible into equity securities of the Company or (iv) for a dividend reinvestment plan, then
the Company shall give written notice of such proposed filing to all of the Holders of Registrable Securities as soon as practicable
but not less than ten (10) days before the anticipated filing date of such Registration Statement, which notice shall (A) describe
the amount and type of securities to be included in such offering, the intended method(s) of distribution, and the name of the
proposed managing Underwriter or Underwriters, if any, in such offering, and (B) offer to all of the Holders of Registrable Securities
the opportunity to register the sale of such number of Registrable Securities as such Holders may request in writing within five
(5) days after receipt of such written notice (such Registration a “Piggyback Registration”). The Company
shall, in good faith, cause such Registrable Securities to be included in such Piggyback Registration and shall use its best efforts
to cause the managing Underwriter or Underwriters of a proposed Underwritten Offering to permit the Registrable Securities requested
by the Holders pursuant to this subsection 2.2.1 to be included in a Piggyback Registration on the same terms and conditions
as any similar securities of the Company included in such Registration and to permit the sale or other disposition of such Registrable
Securities in accordance with the intended method(s) of distribution thereof. All such Holders proposing to distribute their Registrable
Securities through an Underwritten Offering under this subsection 2.2.1 shall enter into an underwriting agreement in customary
form with the Underwriter(s) selected for such Underwritten Offering by the Company.

 

     

     

    

 

2.2.2
Reduction of Piggyback Registration. If the managing Underwriter or Underwriters in an Underwritten Registration that is
to be a Piggyback Registration, in good faith, advises the Company and the Holders of Registrable Securities participating in
the Piggyback Registration in writing that the dollar amount or number of shares of Common Stock that the Company desires to sell,
taken together with (i) the shares of Common Stock, if any, as to which Registration has been demanded pursuant to separate written
contractual arrangements with persons or entities other than the Holders of Registrable Securities hereunder (ii) the Registrable
Securities as to which registration has been requested pursuant to Section 2.2 hereof, and (iii) the shares of Common Stock,
if any, as to which Registration has been requested pursuant to separate written contractual piggy-back registration rights of
other stockholders of the Company, exceeds the Maximum Number of Securities, then:

 

(a)
If the Registration is undertaken for the Company’s account, the Company shall include in any such Registration (A) first,
the shares of Common Stock or other equity securities that the Company desires to sell, which can be sold without exceeding the
Maximum Number of Securities; (B) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing
clause (A), the Registrable Securities of Holders exercising their rights to register their Registrable Securities pursuant to
subsection 2.2.1 hereof, pro rata based on the respective number of Registrable Securities that each Holder has so requested,
which can be sold without exceeding the Maximum Number of Securities; and (C) third, to the extent that the Maximum Number of
Securities has not been reached under the foregoing clauses (A) and (B), the shares of Common Stock, if any, as to which Registration
has been requested pursuant to written contractual piggy-back registration rights of other stockholders of the Company, which
can be sold without exceeding the Maximum Number of Securities;

 

(b)
If the Registration is pursuant to a request by persons or entities other than the Holders of Registrable Securities, then the
Company shall include in any such Registration (A) first, the shares of Common Stock or other equity securities, if any, of such
requesting persons or entities, other than the Holders of Registrable Securities, which can be sold without exceeding the Maximum
Number of Securities; (B) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing
clause (A), the Registrable Securities of Holders exercising their rights to register their Registrable Securities pursuant to
subsection 2.2.1, pro rata based on the respective number of Registrable Securities that each Holder has requested be included
in such Underwritten Registration and the aggregate number of Registrable Securities that the Holders have requested be included
in such Underwritten Registration, which can be sold without exceeding the Maximum Number of Securities; (C) third, to the extent
that the Maximum Number of Securities has not been reached under the foregoing clauses (A) and (B), the shares of Common Stock
or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum Number of Securities;
and (D) fourth, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A), (B)
and (C), the shares of Common Stock or other equity securities for the account of other persons or entities that the Company is
obligated to register pursuant to separate written contractual arrangements with such persons or entities, which can be sold without
exceeding the Maximum Number of Securities.

 

2.2.3
Piggyback Registration Withdrawal. Any Holder of Registrable Securities shall have the right to withdraw from a Piggyback
Registration for any or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters (if
any) of his, her or its intention to withdraw from such Piggyback Registration prior to the effectiveness of the Registration
Statement filed with the Commission with respect to such Piggyback Registration. The Company (whether on its own good faith determination
or as the result of a request for withdrawal by persons pursuant to separate written contractual obligations) may withdraw a Registration
Statement filed with the Commission in connection with a Piggyback Registration at any time prior to the effectiveness of such
Registration Statement. Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration
Expenses incurred in connection with the Piggyback Registration prior to its withdrawal under this subsection 2.2.3.

 

     

     

    

 

2.2.4
Unlimited Piggyback Registration Rights. For purposes of clarity, any Registration effected pursuant to Section 2.2
hereof shall not be counted as a Registration pursuant to a Demand Registration effected under Section 2.1 hereof.

 

2.3
Registrations on Form S-3. Any Holder of Registrable Securities may at any time, and from time to time, request in writing
that the Company, pursuant to Rule 415 under the Securities Act (or any successor rule promulgated thereafter by the Commission),
register the resale of any or all of their Registrable Securities on Form S-3 or any similar short form registration statement
that may be available at such time (“Form S-3”); provided, however, that the Company shall
not be obligated to effect such request through an Underwritten Offering. Within five (5) days of the Company’s receipt
of a written request from a Holder or Holders of Registrable Securities for a Registration on Form S-3, the Company shall promptly
give written notice of the proposed Registration on Form S-3 to all other Holders of Registrable Securities, and each Holder of
Registrable Securities who thereafter wishes to include all or a portion of such Holder’s Registrable Securities in such
Registration on Form S-3 shall so notify the Company, in writing, within ten (10) days after the receipt by the Holder of the
notice from the Company. As soon as practicable thereafter, but not more than fifteen (15) days after the Company’s initial
receipt of such written request for a Registration on Form S-3, the Company shall register all or such portion of such Holder’s
Registrable Securities as are specified in such written request, together with all or such portion of Registrable Securities of
any other Holder or Holders joining in such request as are specified in the written notification given by such Holder or Holders;
provided, however, that the Company shall not be obligated to effect any such Registration pursuant to Section
2.3 hereof if (i) a Form S-3 is not available for such offering; or (ii) the Holders of Registrable Securities, together with
the Holders of any other equity securities of the Company entitled to inclusion in such Registration, propose to sell the Registrable
Securities and such other equity securities (if any) at any aggregate price to the public of less than $10,000,000.

 

2.4
Restrictions on Registration Rights. If during the period starting with the date sixty (60) days prior to the Company’s
good faith estimate of the date of the filing of, and ending on a date one hundred and twenty (120) days after the effective date
of, a Company initiated Registration and provided that the Company has delivered written notice to the Holders prior to receipt
of a Demand Registration pursuant to subsection 2.1.1 and it continues to actively employ, in good faith, all reasonable
efforts to cause the applicable Registration Statement to become effective, the Holders have requested an Underwritten Registration
and (A) the Company and the Holders are unable to obtain the commitment of underwriters to firmly underwrite the offer or (B)
in the good faith judgment of the Board such Registration would be seriously detrimental to the Company and the Board concludes
as a result that it is essential to defer the filing of such Registration Statement at such time, then in each case the Company
shall furnish to such Holders a certificate signed by the Chairman of the Board stating that in the good faith judgment of the
Board it would be seriously detrimental to the Company for such Registration Statement to be filed in the near future and that
it is therefore essential to defer the filing of such Registration Statement. In such event, the Company shall have the right
to defer such filing for a period of not more than thirty (30) days; provided, however, that the Company shall not
defer its obligation in this manner more than once in any 12-month period.

 

ARTICLE
III 

COMPANY PROCEDURES

 

3.1
General Procedures. If at any time on or after the date the Company consummates a Business Combination the Company is required
to effect the Registration of Registrable Securities, the Company shall use its best efforts to effect such Registration to permit
the sale of such Registrable Securities in accordance with the intended plan of distribution thereof, and pursuant thereto the
Company shall, as expeditiously as possible:

 

3.1.1
prepare and file with the Commission as soon as practicable a Registration Statement with respect to such Registrable Securities
and use its reasonable best efforts to cause such Registration Statement to become effective and remain effective until all Registrable
Securities covered by such Registration Statement have been sold;

 

3.1.2
prepare and file with the Commission such amendments and post-effective amendments to the Registration Statement, and such supplements
to the Prospectus, as may be requested by any Holder or any Underwriter of Registrable Securities or as may be required by the
rules, regulations or instructions applicable to the registration form used by the Company or by the Securities Act or rules and
regulations thereunder to keep the Registration Statement effective until all Registrable Securities covered by such Registration
Statement are sold in accordance with the intended plan of distribution set forth in such Registration Statement or supplement
to the Prospectus;

 

     

     

    

 

3.1.3
prior to filing a Registration Statement or prospectus, or any amendment or supplement thereto, furnish without charge to the
Underwriters, if any, and each Holder of Registrable Securities included in such Registration, and each such Holder’s legal
counsel, copies of such Registration Statement as proposed to be filed, each amendment and supplement to such Registration Statement
(in each case including all exhibits thereto and documents incorporated by reference therein), the Prospectus included in such
Registration Statement (including each preliminary Prospectus), and such other documents as the Underwriters and each Holder of
Registrable Securities included in such Registration or the legal counsel for any such Holders may request in order to facilitate
the disposition of the Registrable Securities owned by such Holders;

 

3.1.4
prior to any public offering of Registrable Securities, use its best efforts to (i) register or qualify the Registrable Securities
covered by the Registration Statement under such securities or “blue sky” laws of such jurisdictions in the United
States as any Holder of Registrable Securities included in such Registration Statement (in light of their intended plan of distribution)
may request and (ii) take such action necessary to cause such Registrable Securities covered by the Registration Statement to
be registered with or approved by such other governmental authorities as may be necessary by virtue of the business and operations
of the Company and do any and all other acts and things that may be necessary or advisable to enable the Holders of Registrable
Securities included in such Registration Statement to consummate the disposition of such Registrable Securities in such jurisdictions;
provided, however, that the Company shall not be required to qualify generally to do business in any jurisdiction
where it would not otherwise be required to qualify or take any action to which it would be subject to general service of process
or taxation in any such jurisdiction where it is not then otherwise so subject;

 

3.1.5
cause all such Registrable Securities to be listed on each securities exchange or automated quotation system on which similar
securities issued by the Company are then listed;

 

3.1.6
provide a transfer agent or warrant agent, as applicable, and registrar for all such Registrable Securities no later than the
effective date of such Registration Statement;

 

3.1.7
advise each seller of such Registrable Securities, promptly after it shall receive notice or obtain knowledge thereof, of the
issuance of any stop order by the Commission suspending the effectiveness of such Registration Statement or the initiation or
threatening of any proceeding for such purpose and promptly use its reasonable best efforts to prevent the issuance of any stop
order or to obtain its withdrawal if such stop order should be issued;

 

3.1.8
at least five (5) days prior to the filing of any Registration Statement or Prospectus or any amendment or supplement to such
Registration Statement or Prospectus, furnish a copy thereof to each seller of such Registrable Securities and its counsel, including,
without limitation, providing copies promptly upon receipt of any comment letters received with respect to any such Registration
Statement or Prospectus;

 

3.1.9
notify the Holders at any time when a Prospectus relating to such Registration Statement is required to be delivered under the
Securities Act, of the happening of any event as a result of which the Prospectus included in such Registration Statement, as
then in effect, includes a Misstatement, and then to correct such Misstatement as set forth in Section 3.4 hereof;

 

3.1.10
permit a representative of the Holders (such representative to be selected by a majority of the participating Holders), the Underwriters,
if any, and any attorney or accountant retained by such Holders or Underwriter to participate, at each such person’s own
expense, in the preparation of the Registration Statement, and cause the Company’s officers, directors and employees to
supply all information reasonably requested by any such representative, Underwriter, attorney or accountant in connection with
the Registration; provided, however, that such representatives or Underwriters enter into a confidentiality agreement,
in form and substance reasonably satisfactory to the Company, prior to the release or disclosure of any such information; and
provided further, the Company may not include the name of any Holder or Underwriter or any information regarding any Holder
or Underwriter in any Registration Statement or Prospectus, any amendment or supplement to such Registration Statement or Prospectus,
any document that is to be incorporated by reference into such Registration Statement or Prospectus, or any response to any comment
letter, without the prior written consent of such Holder or Underwriter and providing each such Holder or Underwriter a reasonable
amount of time to review and comment on such applicable document, which comments the Company shall include unless contrary to
applicable law;

 

     

     

    

 

3.1.11
obtain a “cold comfort” letter from the Company’s independent registered public accountants in the event of
an Underwritten Registration which the participating Holders may rely on, in customary form and covering such matters of the type
customarily covered by “cold comfort” letters as the managing Underwriter may reasonably request, and reasonably satisfactory
to a majority-in-interest of the participating Holders;

 

3.1.12
on the date the Registrable Securities are delivered for sale pursuant to such Registration, obtain an opinion, dated such date,
of counsel representing the Company for the purposes of such Registration, addressed to the Holders, the placement agent or sales
agent, if any, and the Underwriters, if any, covering such legal matters with respect to the Registration in respect of which
such opinion is being given as the Holders, placement agent, sales agent, or Underwriter may reasonably request and as are customarily
included in such opinions and negative assurance letters, and reasonably satisfactory to a majority in interest of the participating
Holders;

 

3.1.13
in the event of any Underwritten Offering, enter into and perform its obligations under an underwriting agreement, in usual and
customary form, with the managing Underwriter of such offering;

 

3.1.14
make available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least
twelve (12) months beginning with the first day of the Company’s first full calendar quarter after the effective date of
the Registration Statement which satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder
(or any successor rule promulgated thereafter by the Commission);

 

3.1.15
if the Registration involves the Registration of Registrable Securities involving gross proceeds in excess of $50,000,000, use
its reasonable efforts to make available senior executives of the Company to participate in customary “road show”
presentations that may be reasonably requested by the Underwriter in any Underwritten Offering; and

 

3.1.16
otherwise, in good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by the Holders,
in connection with such Registration.

 

3.2
Registration Expenses. The Registration Expenses of all Registrations shall be borne by the Company. It is acknowledged
by the Holders that the Holders shall bear all incremental selling expenses relating to the sale of Registrable Securities, such
as Underwriters’ commissions and discounts, brokerage fees, Underwriter marketing costs and, other than as set forth in
the definition of “Registration Expenses,” all reasonable fees and expenses of any legal counsel representing the
Holders.

 

3.3
Requirements for Participation in Underwritten Offerings. No person may participate in any Underwritten Offering for equity
securities of the Company pursuant to a Registration initiated by the Company hereunder unless such person (i) agrees to sell
such person’s securities on the basis provided in any underwriting arrangements approved by the Company and (ii) completes
and executes all customary questionnaires, powers of attorney, indemnities, lock-up agreements, underwriting agreements and other
customary documents as may be reasonably required under the terms of such underwriting arrangements.

 

3.4
Suspension of Sales; Adverse Disclosure. Upon receipt of written notice from the Company that a Registration Statement
or Prospectus contains a Misstatement, each of the Holders shall forthwith discontinue disposition of Registrable Securities until
it has received copies of a supplemented or amended Prospectus correcting the Misstatement (it being understood that the Company
hereby covenants to prepare and file such supplement or amendment as soon as practicable after the time of such notice), or until
it is advised in writing by the Company that the use of the Prospectus may be resumed. If the filing, initial effectiveness or
continued use of a Registration Statement in respect of any Registration at any time would require the Company to make an Adverse
Disclosure or would require the inclusion in such Registration Statement of financial statements that are unavailable to the Company
for reasons beyond the Company’s control, the Company may, upon giving prompt written notice of such action to the Holders,
delay the filing or initial effectiveness of, or suspend use of, such Registration Statement for the shortest period of time,
but in no event more than thirty (30) days, determined in good faith by the Company to be necessary for such purpose. In the event
the Company exercises its rights under the preceding sentence, the Holders agree to suspend, immediately upon their receipt of
the notice referred to above, their use of the Prospectus relating to any Registration in connection with any sale or offer to
sell Registrable Securities. The Company shall immediately notify the Holders of the expiration of any period during which it
exercised its rights under this Section 3.4.

 

     

     

    

 

3.5
Reporting Obligations. As long as any Holder shall own Registrable Securities, the Company, at all times while it shall
be a reporting company under the Exchange Act, covenants to file timely (or obtain extensions in respect thereof and file within
the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to Sections 13(a)
or 15(d) of the Exchange Act and to promptly furnish the Holders with true and complete copies of all such filings.
The Company further covenants that it shall take such further action as any Holder may reasonably request, all to the extent required
from time to time to enable such Holder to sell the shares of Common Stock held by such Holder without registration under the
Securities Act within the limitation of the exemptions provided by Rule 144 promulgated under the Securities Act (or any successor
rule promulgated thereafter by the Commission), including providing any legal opinions. Upon the request of any Holder, the Company
shall deliver to such Holder a written certification of a duly authorized officer as to whether it has complied with such requirements.

 

3.6
Limitations on Registration Rights. Notwithstanding anything herein to the contrary, (i) the Sponsor may not exercise its
rights under Sections 2.1 and 2.2 hereunder after five (5) and seven (7) years, respectively, after the effective date of the
registration statement relating to the Company’s initial public offering and (ii) the Sponsor may not exercise its rights
under Section 2.1 more than one time.

 

ARTICLE
IV

INDEMNIFICATION
AND CONTRIBUTION

 

4.1
Indemnification.

 

4.1.1
The Company agrees to indemnify, to the extent permitted by law, each Holder of Registrable Securities, its affiliates, officers
and directors and each person who controls such Holder (within the meaning of the Securities Act) against all losses, claims,
damages, liabilities and expenses (including attorneys’ fees) caused by any untrue or alleged untrue statement of material
fact contained in any Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto
or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein
not misleading, except insofar as the same are caused by or contained in any information furnished in writing to the Company by
such Holder expressly for use therein. The Company shall indemnify the Underwriters, their officers and directors and each person
who controls such Underwriters (within the meaning of the Securities Act) to the same extent as provided in the foregoing with
respect to the indemnification of the Holder.

 

4.1.2
In connection with any Registration Statement in which a Holder of Registrable Securities is participating, such Holder shall
furnish to the Company in writing such information and affidavits as the Company reasonably requests for use in connection with
any such Registration Statement or Prospectus and, to the extent permitted by law, shall indemnify the Company, its directors
and officers and agents and each person who controls the Company (within the meaning of the Securities Act) against any losses,
claims, damages, liabilities and expenses (including without limitation reasonable attorneys’ fees) resulting from any untrue
statement of material fact contained in the Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof
or supplement thereto or any omission of a material fact required to be stated therein or necessary to make the statements therein
not misleading, but only to the extent that such untrue statement or omission is contained in any information or affidavit so
furnished in writing by such Holder expressly for use therein; provided, however, that the obligation to indemnify
shall be several, not joint and several, among such Holders of Registrable Securities, and the liability of each such Holder of
Registrable Securities shall be in proportion to and limited to the net proceeds received by such Holder from the sale of Registrable
Securities pursuant to such Registration Statement. The Holders of Registrable Securities shall indemnify the Underwriters, their
officers, directors and each person who controls such Underwriters (within the meaning of the Securities Act) to the same extent
as provided in the foregoing with respect to indemnification of the Company.

 

     

     

    

 

4.1.3
Any person entitled to indemnification herein shall (i) give prompt written notice to the indemnifying party of any claim with
respect to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any person’s
right to indemnification hereunder to the extent such failure has not materially prejudiced the indemnifying party) and (ii) permit
such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party if the
indemnifying party provides notice of such to the indemnified party within 30 days of the indemnifying party’s receipt of
notice of such claim. After notice from the indemnifying party to the indemnified party of its election to assume the defense,
the indemnifying party will not be liable to the indemnified party for any other legal expenses except as provided below and except
for the reasonable costs of investigation subsequently incurred by the indemnified party in connection with the defense. The indemnified
party will have the right to employ its own counsel in any such action, but the fees, expenses and other charges of such counsel
will be at the expense of such indemnified party unless (1) the employment of counsel by the indemnified party has been authorized
in writing by the indemnifying party, (2) the indemnified party has reasonably concluded (based on advice of counsel) that there
may be legal defenses available to it or other indemnified parties that are different from or in addition to those available to
the indemnifying party, (3) a conflict or potential conflict exists (based on advice of counsel to the indemnified party) between
the indemnified party and the indemnifying party (in which case the indemnifying party will not have the right to direct the defense
of such action on behalf of the indemnified party) or (4) the indemnifying party has not in fact employed counsel to assume the
defense of such action or counsel reasonably satisfactory to the indemnified party, in each case, within a reasonable time after
receiving notice of the commencement of the action; in each of which cases the reasonable fees, disbursements and other charges
of counsel will be at the expense of the indemnifying party or parties. It is understood that the indemnifying party or parties
shall not, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable fees,
disbursements and other charges of more than one separate firm admitted to practice in such jurisdiction (plus local counsel)
at any one time for all such indemnified party or parties. If such defense is assumed, the indemnifying party shall not be subject
to any liability for any settlement made by the indemnified party without its consent (but such consent shall not be unreasonably
withheld). No indemnifying party shall, without the consent of the indemnified party, settle or compromise or consent to the entry
of any judgment in any pending or threatened claim, action or proceeding relating to the matters contemplated by this Section
4 (whether or not any indemnified party is a party thereto), unless such settlement, compromise or consent (1) includes an express
and unconditional release of each indemnified party, in form and substance reasonably satisfactory to such indemnified party,
from all liability arising out of such litigation, investigation, proceeding or claim and (2) does not include a statement as
to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified party.

 

4.1.4
The indemnification provided for under this Agreement shall remain in full force and effect regardless of any investigation made
by or on behalf of the indemnified party or any officer, director or controlling person of such indemnified party and shall survive
the transfer of securities. The Company and each Holder of Registrable Securities participating in an offering also agrees to
make such provisions as are reasonably requested by any indemnified party for contribution to such party in the event the Company’s
or such Holder’s indemnification is unavailable for any reason.

 

4.1.5
If the indemnification provided under Section 4.1 hereof from the indemnifying party is unavailable or insufficient to
hold harmless an indemnified party in respect of any losses, claims, damages, liabilities and expenses referred to herein, then
the indemnifying party, in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by the indemnified
party as a result of such losses, claims, damages, liabilities and expenses in such proportion as is appropriate to reflect the
relative fault of the indemnifying party and the indemnified party, as well as any other relevant equitable considerations. The
relative fault of the indemnifying party and indemnified party shall be determined by reference to, among other things, whether
any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to
state a material fact, was made by, or relates to information supplied by, such indemnifying party or indemnified party, and the
indemnifying party’s and indemnified party’s relative intent, knowledge, access to information and opportunity to
correct or prevent such action; provided, however, that the liability of any Holder under this subsection 4.1.5
shall be limited to the amount of the net proceeds received by such Holder in such offering giving rise to such liability.
The amount paid or payable by a party as a result of the losses or other liabilities referred to above shall be deemed to include,
subject to the limitations set forth in subsections 4.1.1, 4.1.2 and 4.1.3 above, any legal or other fees,
charges or expenses reasonably incurred by such party in connection with any investigation or proceeding. The parties hereto agree
that it would not be just and equitable if contribution pursuant to this subsection 4.1.5 were determined by pro rata allocation
or by any other method of allocation, which does not take account of the equitable considerations referred to in this subsection
4.1.5. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act)
shall be entitled to contribution pursuant to this subsection 4.1.5 from any person who was not guilty of such fraudulent
misrepresentation.

 

     

     

    

 

ARTICLE
V

MISCELLANEOUS

 

5.1
Notices. Any notice or communication under this Agreement must be in writing and given by (i) deposit in the United States
mail, addressed to the party to be notified, postage prepaid and registered or certified with return receipt requested, (ii) delivery
in person or by courier service providing evidence of delivery, or (iii) transmission by hand delivery, electronic mail or facsimile.
Each notice or communication that is mailed, delivered, or transmitted in the manner described above shall be deemed sufficiently
given, served, sent, and received, in the case of mailed notices, on the third business day following the date on which it is
mailed and, in the case of notices delivered by courier service, hand delivery, electronic mail or facsimile, at such time as
it is delivered to the addressee (with the delivery receipt or the affidavit of messenger) or at such time as delivery is refused
by the addressee upon presentation. Any notice or communication under this Agreement must be addressed, if to the Company, to:
110 East 59th Street, New York, NY 10022, and, if to any Holder, at such Holder’s address or contact information
as set forth in the Company’s books and records. Any party may change its address for notice at any time and from time to
time by written notice to the other parties hereto, and such change of address shall become effective thirty (30) days after delivery
of such notice as provided in this Section 5.1.

 

5.2
Assignment; No Third Party Beneficiaries.

 

5.2.1
This Agreement and the rights, duties and obligations of the Company hereunder may not be assigned or delegated by the Company
in whole or in part.

 

5.2.2
Prior to the expiration of the Founder Shares Lock-up Period or the Private Placement Lock-up Period, as the case may be, no Holder
may assign or delegate such Holder’s rights, duties or obligations under this Agreement, in whole or in part, except in
connection with a transfer of Registrable Securities by such Holder to a Permitted Transferee but only if such Permitted Transferee
agrees to become bound by the transfer restrictions set forth in this Agreement.

 

5.2.3
This Agreement and the provisions hereof shall be binding upon and shall inure to the benefit of each of the parties and its successors
and the permitted assigns of the Holders, which shall include Permitted Transferees.

 

5.2.4
This Agreement shall not confer any rights or benefits on any persons that are not parties hereto, other than as expressly set
forth in this Agreement, including Section 4.1 and Section 5.2 hereof.

 

5.2.5
No assignment by any party hereto of such party’s rights, duties and obligations hereunder shall be binding upon or obligate
the Company unless and until the Company shall have received (i) written notice of such assignment as provided in Section 5.1
hereof and (ii) the written agreement of the assignee, in a form reasonably satisfactory to the Company, to be bound by the
terms and provisions of this Agreement (which may be accomplished by an addendum or certificate of joinder to this Agreement).
Any transfer or assignment made other than as provided in this Section 5.2 shall be null and void.

 

     

     

    

 

5.3
Counterparts. This Agreement may be executed in multiple counterparts (including facsimile or PDF counterparts), each of
which shall be deemed an original, and all of which together shall constitute the same instrument, but only one of which need
be produced.

 

5.4
Governing Law; Venue. NOTWITHSTANDING THE PLACE WHERE THIS AGREEMENT MAY BE EXECUTED BY ANY OF THE PARTIES HERETO, THE
PARTIES EXPRESSLY AGREE THAT (I) THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS OF THE STATE OF NEW YORK AS
APPLIED TO AGREEMENTS AMONG NEW YORK RESIDENTS ENTERED INTO AND TO BE PERFORMED ENTIRELY WITHIN NEW YORK, WITHOUT REGARD TO THE
CONFLICT OF LAW PROVISIONS OF SUCH JURISDICTION AND (II) THE VENUE FOR ANY ACTION TAKEN WITH RESPECT TO THIS AGREEMENT SHALL BE
ANY STATE OR FEDERAL COURT IN NEW YORK COUNTY IN THE STATE OF NEW YORK.

 

5.5
Amendments and Modifications. Upon the written consent of the Company and the Holders of at least a majority in interest
of the Registrable Securities at the time in question, compliance with any of the provisions, covenants and conditions set forth
in this Agreement may be waived, or any of such provisions, covenants or conditions may be amended or modified; provided,
however, that notwithstanding the foregoing, any amendment hereto or waiver hereof that adversely affects one Holder, solely
in its capacity as a holder of the shares of capital stock of the Company, in a manner that is materially different from the other
Holders (in such capacity) shall require the consent of the Holder so affected. No course of dealing between any Holder or the
Company and any other party hereto or any failure or delay on the part of a Holder or the Company in exercising any rights or
remedies under this Agreement shall operate as a waiver of any rights or remedies of any Holder or the Company. No single or partial
exercise of any rights or remedies under this Agreement by a party shall operate as a waiver or preclude the exercise of any other
rights or remedies hereunder or thereunder by such party.

 

5.6
Other Registration Rights. The Company represents and warrants that no person, other than a Holder of Registrable Securities,
has any right to require the Company to register any securities of the Company for sale or to include such securities of the Company
in any Registration filed by the Company for the sale of securities for its own account or for the account of any other person.
Further, the Company represents and warrants that this Agreement supersedes any other registration rights agreement or agreement
with similar terms and conditions and in the event of a conflict between any such agreement or agreements and this Agreement,
the terms of this Agreement shall prevail.

 

5.7
Term. This Agreement shall terminate upon the earlier of (i) the tenth anniversary of the date of this Agreement or (ii)
the date as of which (A) all of the Registrable Securities have been sold pursuant to a Registration Statement (but in no event
prior to the applicable period referred to in Section 4(a)(3) of the Securities Act and Rule 174 thereunder (or any successor
rule promulgated thereafter by the Commission)) or (B) with respect to any Holder, such Holder ceasing to hold Registrable Securities.

 

[Signature
Page Follows]

 

     

     

    

 

IN
WITNESS WHEREOF, the undersigned have caused this Agreement to be executed as of the date first written above.

 

	 	COMPANY:
	 	 
	 	CF FINANCE ACQUISITION CORP.,
	 	a Delaware corporation
	 	 	 
	 	By:	 /s/
    Howard W. Lutnick
	 	 	Name: Howard W. Lutnick
	 	 	Title: Chairman and Chief Executive Officer
	 	 	 
	 	HOLDERS:
	 	 
	 	CF FINANCE HOLDINGS LLC,
	 	a Delaware limited liability company
	 	 	 
	 	By:	 /s/
    Howard W. Lutnick
	 	 	Name: Howard W. Lutnick
	 	 	Title: Chief Executive Officer
	 	 
	 	 /s/
    Peter J. Worth
	 	Name: Peter J. Worth

 

[Signature
Page to Registration Rights Agreement]Exhibit 10.4

 

CF
Finance Acquisition Corp.

110
East 59th Street

New
York, NY 10022

 

December
12, 2018

 

CF
Finance Holdings LLC

110
East 59th Street

New
York, NY 10022

 

	 	Re:	Forward
    Purchase Contract

 

Ladies
and Gentlemen:

 

We
are pleased to accept the offer CF Finance Holdings, LLC (the “Subscriber” or “you”) has
made to purchase an aggregate of (i) 3,000,000 units (the “Units”) of CF Finance Acquisition Corp., a Delaware
corporation (the “Company”), each Unit comprising one share of Class A common stock of the Company, par value
$0.0001 per share (“Class A Common Stock” or “Share”), and three-quarters of one warrant
(“Warrant”) and (ii) 750,000 Shares (the “Forward Purchase Shares”), for an aggregate purchase
price of $30,000,000. The Units, the securities underlying the Units and the Forward Purchase Shares, collectively, are hereinafter
referred to as the “Securities”. Each whole Warrant is exercisable to purchase one Share at an exercise price
of $11.50 per Share during the period commencing on the later of (i) twelve (12) months from the date of the closing of the Company’s
initial public offering of units, each comprising one share of Class A Common Stock and one Warrant (the “IPO”),
such IPO expected as of the date hereof to generate gross proceeds to the Company in the amount of $250,000,000 (exclusive of
the over-allotment option to be granted to the underwriters) and (ii) thirty (30) days following the consummation of the
Company’s initial business combination (the “Business Combination”) and expiring on the fifth anniversary
of the consummation of the Business Combination. This letter agreement (this “Agreement”) sets forth the terms
on which the Company is willing to sell the Securities to the Subscriber, and the Company and the Subscriber’s agreements
regarding such Securities, are as follows:

 

1. Purchase
of the Securities. For the sum of $30,000,000 (the “Purchase Price”), at the Closing (as defined herein),
the Company agrees to sell the Securities to the Subscriber, and the Subscriber hereby agrees to purchase the Securities from
the Company, subject to the terms and subject to the conditions set forth in this Agreement.

 

2. Representations,
Warranties and Agreements.

  

2.1 Subscriber’s
Representations, Warranties and Agreements. To induce the Company to issue the Securities to the Subscriber, the Subscriber
hereby represents and warrants to the Company and agrees with the Company as follows:

 

2.1.1 No
Government Recommendation or Approval. The Subscriber understands that no federal or state agency has passed upon or made
any recommendation or endorsement of the offering of the Securities.

  

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

 

2.1.3 Organization
and Authority. The Subscriber is a Delaware limited liability company, validly existing and in good standing under the laws
of Delaware and possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement.
Upon execution and delivery by the Subscriber and the Company, this Agreement is a legal, valid and binding agreement of Subscriber,
enforceable against Subscriber in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy,
insolvency, fraudulent conveyance or similar laws affecting the enforcement of creditors’ rights generally and subject to
general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity). 

 

     

     

    

 

2.1.4 Experience,
Financial Capability and Suitability. Subscriber is: (i) sophisticated in financial matters, is able to evaluate the risks
and benefits of the investment in the Securities and has the capacity to protect its own interests and (ii) able to bear the economic
risk of its investment in the Securities for an indefinite period of time because the Securities have not been registered under
the Securities Act (as defined below) and therefore cannot be sold unless pursuant to an effective registration statement under
the Securities Act (including pursuant to the Registration Rights Agreement (as defined below)) or an exemption from such registration
is available with respect to such sale. Subscriber is able to afford a complete loss of Subscriber’s investment in the Securities.

 

2.1.5 Access
to Information; Independent Investigation. Prior to the execution of this Agreement, the Subscriber has had the opportunity
to ask questions of and receive answers from representatives of the Company concerning an investment in the Company, as well as
the finances, operations, business and prospects of the Company, and the opportunity to obtain additional information to verify
the accuracy of all information so obtained. In determining whether to make this investment, Subscriber has relied solely on Subscriber’s
own knowledge and understanding of the Company and its business based upon Subscriber’s own due diligence investigation
and the information furnished pursuant to this paragraph. Subscriber understands that no person has been authorized to give any
information or to make any representations which were not furnished pursuant to this Section 2 and Subscriber has not relied on
any other representations or information in making its investment decision, whether written or oral, relating to the Company,
its operations and/or its prospects.

 

2.1.6 Regulation
D Offering. Subscriber represents that it is an “accredited investor” as such term is defined in Rule 501(a) of
Regulation D under the Securities Act of 1933, as amended (the “Securities Act”), and acknowledges the sale
contemplated hereby is being made in reliance on a private placement exemption to “accredited investors” within the
meaning of Section 501(a) of Regulation D under the Securities Act or similar exemptions under federal or state law.

 

2.1.7 Investment
Purposes. The Subscriber is purchasing the Securities solely for investment purposes, for the Subscriber’s own account
and not for the account or benefit of any other person, and not with a view towards the distribution or dissemination thereof.
The Subscriber did not decide to enter into this Agreement as a result of any general solicitation or general advertising within
the meaning of Rule 502 under the Securities Act.

 

2.1.8 Restrictions
on Transfer; Shell Company. Subscriber understands the Securities are being offered in a transaction not involving a public
offering within the meaning of the Securities Act. Subscriber understands the Securities will be “restricted securities”
within the meaning of Rule 144(a)(3) under the Securities Act and Subscriber understands that any certificates representing the
Securities will contain a legend in respect of such restrictions. If in the future the Subscriber decides to offer, resell, pledge
or otherwise transfer the Securities, such Securities may be offered, resold, pledged or otherwise transferred only pursuant to:
(i) registration under the Securities Act, or (ii) an available exemption from registration. Subscriber agrees that if any transfer
of its Securities or any interest therein is proposed to be made, as a condition precedent to any such transfer, Subscriber may
be required to deliver to the Company an opinion of counsel satisfactory to the Company. Absent registration or an exemption,
the Subscriber agrees not to resell the Securities. Subscriber further acknowledges that because the Company is a shell company,
Rule 144 may not be available to the Subscriber for the resale of the Securities until one (1) year following consummation of
the Business Combination, despite technical compliance with the requirements of Rule 144 and the release or waiver of any contractual
transfer restrictions.

 

2.1.9 No
Governmental Consents. No governmental, administrative or other third party consents or approvals are required or necessary
on the part of Subscriber in connection with the transactions contemplated by this Agreement.

 

     

     

    

 

2.2 Company’s
Representations, Warranties and Agreements. To induce the Subscriber to purchase the Securities, the Company hereby represents
and warrants to the Subscriber and agrees with the Subscriber as follows: 

 

2.2.1 Organization
and Corporate Power. The Company is a Delaware corporation and is qualified to do business in every jurisdiction in which
the failure to so qualify would reasonably be expected to have a material adverse effect on the financial condition, operating
results or assets of the Company. The Company possesses all requisite corporate power and authority necessary to carry out the
transactions contemplated by this Agreement.

 

2.2.2 No
Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions
contemplated hereby do not violate, conflict with or constitute a default under (i) the Certificate of Incorporation or Bylaws
of the Company, (ii) any agreement, indenture or instrument to which the Company is a party or (iii) any law, statute, rule or
regulation to which the Company is subject, or (iv) any agreement, order, judgment or decree to which the Company is subject.

 

2.2.3 Title
to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the Securities will be duly and
validly issued, fully paid and non-assessable. Upon issuance in accordance with, and payment pursuant to, the terms hereof the
Subscriber will have or receive good title to the Securities, free and clear of all liens, claims and encumbrances of any kind,
other than (a) transfer restrictions described herein and under federal and state securities laws, and (b) liens, claims or encumbrances
imposed due to the actions of the Subscriber. The Company will reserve sufficient Shares to permit issuance of all of the Securities,
including full exercise of the Warrants.

 

2.2.4 No
Adverse Actions. There are no actions, suits, investigations or proceedings pending, threatened against or affecting the Company
which: (i) seek to restrain, enjoin, prevent the consummation of or otherwise affect the transactions contemplated by this Agreement
or (ii) question the validity or legality of any such transactions or seeks to recover damages or to obtain other relief in connection
with any such transactions.

 

2.2.5 Authorization.
All corporate action on the part of the Company, its officers, directors and stockholders necessary for the authorization, execution
and delivery of this Agreement, the Securities, the performance of all obligations of the Company required pursuant hereto, and
the authorization, issuance (or reservation for issuance) of the Securities, has been taken. Upon execution and delivery by the
Company and each of the other parties of this Agreement, this Agreement constitutes a valid and legally binding obligation of
the Company, enforceable in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy,
insolvency, fraudulent conveyance or similar laws affecting the enforcement of creditors’ rights generally and subject to
general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity). When issued, the
Units and Warrants will constitute valid and legally binding obligations of the Company, enforceable in accordance with their
respective terms.

 

2.2.6 Capitalization.
The authorized capital stock of the Company on the date hereof, consists of 100,000,000 shares of Class A Common Stock, no shares
of which are issued and outstanding, 10,000,000 shares of Class B common stock, par value $0.0001 per share (“Class B
Common Stock” and, collectively with the Class A Common Stock, the “Common Stock”), 7,187,500 shares
of which are issued and outstanding (including up to 937,500 shares subject to forfeiture in the event that the underwriters’
over-allotment option is not exercised in full), and 1,000,000 shares of preferred stock, no shares of which are issued and outstanding.
All issued and outstanding shares of the Class B Common Stock (a) have been duly authorized and validly issued, and (b) are fully
paid and non-assessable. The rights, preferences, privileges and restrictions of the Common Stock are as stated in the Certificate
of Incorporation currently on file with the Delaware Secretary of State. There are no outstanding rights, options, warrants, preemptive
rights, rights of first refusal or similar rights for the purchase or acquisition from the Company of any securities of the Company.

 

2.2.7 No
Governmental Consents. No governmental, administrative or other third party consents or approvals are required or necessary
on the part of the Company in connection with the transactions contemplated by this Agreement, other than the filing of a Form D
with the Securities and Exchange Commission and such state Blue Sky, FINRA and Nasdaq consents and approvals as may be required.

 

     

     

    

  

3. Settlement
Date and Delivery.

 

3.1 Closing.
The settlement of the forward purchase contract for the purchase and sale of the Securities hereunder (the “Closing”)
shall be held at the same date and time as the closing of the Business Combination (the date of the Closing being referred to
as the “Closing Date”). At the Closing, the Company will issue to the Subscriber the Units and the Forward
Purchase Shares, each registered in the name of the Subscriber, against delivery of the Purchase Price in cash via wire transfer
to an account specified in writing by the Company no later than five (5) business days prior to the Closing.

 

3.2 Conditions
to Closing of the Company.

 

The
Company’s obligations to sell and issue the Securities at the Closing are subject to the fulfillment on or prior to the
Closing, as applicable, of each of the following conditions:

 

3.2.1 Representations.
The representations and warranties made by the Subscriber in Section 2 hereof shall be true and correct in all material respects
when made and shall be true and correct in all material respects on and as of the Closing Date (unless they specifically speak
as of another date in which case they shall be true and correct in all material respects as of such date) with the same force
and effect as if they had been made on and as of said date.

 

3.2.2 Blue
Sky. The Company shall have obtained all necessary Blue Sky law permits and qualifications, or secured an exemption therefrom,
required by any state for the offer and sale of the Securities.

 

3.3 Conditions
to Closing of the Subscriber.

 

The
Subscriber’s obligation to purchase the Securities at the Closing is subject to the fulfillment on or prior to the Closing
Date, as applicable, of each of the following conditions:

 

3.3.1 Representations
and Warranties Correct. The representations and warranties made by the Company in Section 2 of this Agreement shall be true
and correct in all material respects when made and shall be true and correct in all material respects on and as of the Closing
Date (unless they specifically speak as of another date in which case they shall be true and correct in all material respects
as of such date) with the same force and effect as if they had been made on and as of said date.

 

3.3.2 Covenants.
All covenants, agreements and conditions contained in this Agreement to be performed by the Company on or prior to the Closing
Date shall have been performed or complied with in all material respects.

 

3.3.3 Blue
Sky. The Company shall have obtained all necessary Blue Sky law permits and qualifications, or secured an exemption therefrom,
required by any state for the offer and sale of the Securities.

 

3.3.5 Registration
Rights Agreement. The Company and Subscriber shall have entered into a registration rights agreement (the “Registration
Rights Agreement”), as referenced in Section 5.5, in a form customary for transactions of the type contemplated hereby
and reasonably acceptable to each of the parties.

 

3.3.6 IPO
Closing. The Company shall have consummated an IPO raising at least $250,000,000 in gross proceeds.

 

3.3.7 Business
Combination. The Company shall have entered into an agreement with respect to the Business Combination and all conditions
to the closing of the Business Combination as set forth in such agreement, including the approval of the Company’s stockholders,
if applicable, shall have been satisfied or met. 

 

     

     

    

 

4. Terms
of the Units and Warrants.

 

4.1
The Warrants will be substantially identical to the warrants to be included in the units offered in the IPO as set forth in the
Warrant Agreement to be entered into with Continental Stock Transfer and Trust Company at or prior to the IPO (the “Warrant
Agreement”), except that the Warrants: (i) will be non-redeemable so long as they are held by the Subscriber (or any
of its permitted transferees), and (ii) are exercisable on a “cashless” basis if held by Subscriber or its permitted
transferees.

 

4.2
The Units and their component parts will be substantially identical to the units to be offered in the IPO except (i) as described
in Sections 4.1 and 4.3 and (ii) the Units and component parts are being offered and sold pursuant to an exemption from the registration
requirements of the Securities Act and will become freely tradable only after they are registered in accordance with the Registration
Rights Agreement to be signed on or before the date of the Company’s registration statement to be filed in connection with
the IPO, as amended at the time it becomes effective (the “Registration Statement”).

 

4.3
The Forward Purchase Shares will be substantially identical to the shares of Class A Common Stock to be offered in the IPO except
that the Forward Purchase Shares (i) are being offered and sold pursuant to an exemption from the registration requirements of
the Securities Act and will become freely tradable only after they are registered in accordance with the Registration Rights Agreement
and (ii) will be subject to the lock up described in Section 5.2.

 

5. Restrictions
on Transfer.

 

5.1 Securities
Law Restrictions. Subscriber hereby agrees not to sell, transfer, pledge, hypothecate or otherwise dispose of all or any part
of the Securities unless, prior thereto (a) a registration statement on the appropriate form under the Securities Act and applicable
state securities laws with respect to the Securities proposed to be transferred shall then be effective or (b) the Company has
received an opinion of counsel for the Company that such registration is not required because such transaction is exempt from
registration under the Securities Act and the rules promulgated by the Securities and Exchange Commission thereunder and under
all applicable state securities laws.

 

5.2 Lock
up. Subscriber hereby agrees not to sell, transfer, pledge, hypothecate or otherwise dispose of all or any part of the Forward
Purchase Shares until the earlier to occur of (the “Lock up”): (a) one year after the completion of the Business
Combination or (b) the date following the completion of the Business Combination on which the Company completes a liquidation,
merger, stock exchange or other similar transaction that results in all of the Company’s stockholders having the right to
exchange their shares of Class A Common Stock for cash, securities or other property. Notwithstanding the foregoing, if the last
reported sale price of the Class A Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends,
reorganizations, recapitalizations and the like) for any 20 trading days within any 30 trading day period commencing at least
150 days after the Business Combination, the Forward Purchase Shares will be released from the Lock up.

 

5.3 Restrictive
Legends. All certificates representing the Securities shall have endorsed thereon legends substantially as follows:

 

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

 

     

     

    

 

All
certificates representing the Forward Purchase Shares shall have endorsed thereon legends substantially as follows:

 

“THE
SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A LOCKUP AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE
DISPOSED DURING THE TERM OF THE LOCKUP EXCEPT PURSUANT TO ITS TERMS.” 

 

5.4 Additional
Units or Substituted Securities. In the event of the declaration of a share dividend, the declaration of an extraordinary
dividend payable in a form other than Common Stock, a spin-off, a share split, an adjustment in conversion ratio, a recapitalization
or a similar transaction affecting the Company’s outstanding Common Stock without receipt of consideration (other than those
occurring at the time of the IPO in connection with a change in the size of the offering), any new, substituted or additional
securities or other property which are by reason of such transaction distributed with respect to any Securities subject to this
Section 5.4 or into which such Securities thereby become convertible shall immediately be subject to this Section 5.4 and Section 3.
Appropriate adjustments to reflect the distribution of such securities or property shall be made to the number and/or class of
Securities subject to this Section 5.4 and Section 3. The Securities shall not be subject to forfeiture upon failure of the underwriters
to exercise their over-allotment option in the IPO.

 

5.5.
FINRA Lock-up. The Subscriber acknowledges and agrees that the Securities will be deemed underwriting compensation by the Financial
Industry Regulatory Authority (“FINRA”) and, pursuant to FINRA Rule 5110(g)(1), may not be sold during the offering,
or transferred, assigned, pledged or hypothecated or be the subject of any hedging, short sale, derivative, put or call transaction
that would result in the economic disposition of the securities for a period of 180 days immediately following the date of effectiveness
or commencement of sales in the IPO, except as provided in FINRA Rule 5110(g)(2). 

 

6. Other
Agreements.

 

6.1 Further
Assurances. Each of the Company and Subscriber agrees to execute such further instruments and to take such further action
as may reasonably be requested by the other party to carry out the intent of this Agreement.

 

6.2 Notices.
All notices, statements or other documents which are required or contemplated by this Agreement shall be in writing and delivered
personally or sent by first class registered or certified mail, overnight courier service or facsimile or electronic transmission
to the address 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.

 

6.3 Entire
Agreement. This Agreement, together with that certain Insider Letter to be entered into among the Subscriber, the Company
and the other parties thereto, substantially in the form to be filed as an exhibit to the Registration Statement, embodies the
entire agreement and understanding between the Subscriber and the Company with respect to the subject matter hereof and supersedes
all prior oral or written agreements and understandings relating to the subject matter hereof. No statement, representation, warranty,
covenant or agreement of any kind not expressly set forth in this Agreement shall affect, or be used to interpret, change or restrict,
the express terms and provisions of this Agreement.

 

6.4 Modifications
and Amendments. The terms and provisions of this Agreement may be modified or amended only by written agreement executed by
all parties hereto.

 

6.5 Waivers
and Consents. The terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted, only
by written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall
be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether
or not similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it
was given, and shall not constitute a continuing waiver or consent.

 

     

     

    

 

6.6 Assignment.
This Agreement, and the rights and obligations hereunder, may not be assigned, in whole or in party, by either party hereto without
the prior written consent of the other party, except that the Subscriber may assign this Agreement to any of its affiliates.

 

6.7 Benefit.
All statements, representations, warranties, covenants and agreements in this Agreement shall be binding on the parties hereto
and shall inure to the benefit of the respective successors and permitted assigns of each party hereto. Nothing in this Agreement
shall be construed to create any rights or obligations except among the parties hereto, and no person or entity shall be regarded
as a third-party beneficiary of this Agreement. 

 

6.8 Governing
Law and Venue. This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with
and governed by the laws of New York applicable to contracts wholly performed within the borders of such state, without giving
effect to the conflict of law principles thereof. The parties hereto (i) agree that any action, proceeding, claim or dispute arising
out of, or relating in any way to, this Agreement shall be brought and enforced in the federal or state courts of New York City,
in the State of New York, and irrevocably submit to such jurisdiction and venue, which jurisdiction and venue shall be exclusive
and (ii) waive any objection to such exclusive jurisdiction and venue or that such courts represent an inconvenient forum.

 

6.9 Severability.
In the event that any court of competent jurisdiction shall determine that any provision, or any portion thereof, contained in
this Agreement shall be unreasonable or unenforceable in any respect, then such provision shall be deemed limited to the extent
that such court deems it reasonable and enforceable, and as so limited shall remain in full force and effect. In the event that
such court shall deem any such provision, or portion thereof, wholly unenforceable, the remaining provisions of this Agreement
shall nevertheless remain in full force and effect.

 

6.10 No
Waiver of Rights, Powers and Remedies. No failure or delay by a party hereto in exercising any right, power or remedy under
this Agreement, and no course of dealing between the parties hereto, shall operate as a waiver of any such right, power or remedy
of such party. No single or partial exercise of any right, power or remedy under this Agreement by a party hereto, nor any abandonment
or discontinuance of steps to enforce any such right, power or remedy, shall preclude such party from any other or further exercise
thereof or the exercise of any other right, power or remedy hereunder. The election of any remedy by a party hereto shall not
constitute a waiver of the right of such party to pursue other available remedies. No notice to or demand on a party not expressly
required under this Agreement shall entitle the party receiving such notice or demand to any other or further notice or demand
in similar or other circumstances or constitute a waiver of the rights of the party giving such notice or demand to any other
or further action in any circumstances without such notice or demand.

 

6.11 Survival
of Representations and Warranties. All representations and warranties made by the parties hereto in this Agreement or in any
other agreement, certificate or instrument provided for or contemplated hereby, shall survive the execution and delivery hereof
and any investigations made by or on behalf of the parties.

 

6.12 No
Broker or Finder. Each of the parties hereto represents and warrants to the other that no broker, finder or other financial
consultant has acted on its behalf in connection with this Agreement or the transactions contemplated hereby in such a way as
to create any liability on the other. Each of the parties hereto agrees to indemnify and save the other harmless from any claim
or demand for commission or other compensation by any broker, finder, financial consultant or similar agent claiming to have been
employed by or on behalf of such party and to bear the cost of legal expenses incurred in defending against any such claim.

 

6.13 Headings
and Captions. The headings and captions of the various subdivisions of this Agreement are for convenience of reference only
and shall in no way modify or affect the meaning or construction of any of the terms or provisions hereof.

 

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

 

     

     

    

 

6.15 Construction.
The words “include,” “includes,” and “including” will be deemed to be
followed by “without limitation.” Pronouns in masculine, feminine, and neuter genders will be construed to
include any other gender, and words in the singular form will be construed to include the plural and vice versa, unless the context
otherwise requires. The words “this Agreement,” “herein,” “hereof,” “hereby,”
“hereunder,” and words of similar import refer to this Agreement as a whole and not to any particular subdivision
unless expressly so limited. The parties hereto intend that each representation, warranty, and covenant contained herein will
have independent significance. If any party hereto has breached any representation, warranty, or covenant contained herein in
any respect, the fact that there exists another representation, warranty or covenant relating to the same subject matter (regardless
of the relative levels of specificity) which such party hereto has not breached will not detract from or mitigate the fact that
such party hereto is in breach of the first representation, warranty, or covenant.

 

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

 

7. [Intentionally
Omitted].

 

8. Indemnification.
Each party shall indemnify the other against any loss, cost or damages (including reasonable attorney’s fees and expenses)
incurred as a result of such party’s breach of any representation, warranty, covenant or agreement in this Agreement.

 

9. Term.
The Subscriber’s obligation to acquire the Securities hereunder, and the Company’s obligation to sell the Securities
hereunder, shall be in effect until the earlier of (i) the consummation of the Business Combination within the time frame permitted
by the Company’s amended and restated certificate of incorporation (the “Charter”), which, as of the
date hereof, is expected to be 18 months from the consummation of the IPO, including any extensions beyond such term effected
pursuant to the terms of the Charter, and (ii) the liquidation of the Company in the event that the Company is unable to consummate
the Business Combination within the time frame permitted by the Charter (including any extensions).

 

10. Disclosure.
The Subscriber hereby acknowledges that (i) the terms of this Agreement will be disclosed in the Registration Statement, (ii)
this Agreement will be filed with the Securities and Exchange Commission as an exhibit to the Registration Statement and (iii)
the Company will disclose the terms of this Agreement to potential IPO investors and to potential Business Combination targets.

 

11. Waiver
of Claims Against Trust. The Subscriber hereby acknowledges that it is aware that the Company will establish a trust account
(the “Trust Account”) for the benefit of its public stockholders upon the closing of the IPO. The Subscriber
hereby agrees that it has no right, title, interest or claim of any kind in or to any monies held in the Trust Account, except
for redemption and liquidation rights the Subscriber may have in respect of any Shares issued as part of the units sold in the
IPO (“Public Shares”) held by the Subscriber, if any. The Subscriber hereby agrees that it shall have no right
of set-off or any right, title, interest or claim of any kind (“Claim”) to, or to any monies in, the Trust
Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account that it may have now or in the future,
except for redemption and liquidation rights the Subscriber may have in respect of any Public Shares held by the Subscriber, if
any. In the event the Subscriber has any Claim against the Company under this Agreement, the Subscriber shall pursue such Claim
solely against the Company and its assets outside the Trust Account and not against the property or any monies in the Trust Account,
except for redemption and liquidation rights the Subscriber may have in respect of any Public Shares held by the Subscriber, if
any.

 

[Signature
Page Follows]

 

     

     

    

 

If
the foregoing accurately sets forth our understanding and agreement, please sign the enclosed copy of this Agreement and return
it to us.

 

	 	Very truly yours,
	 	 
	 	CF
    FINANCE ACQUISITION CORP.
	 	By:	 /s/
    Howard W. Lutnick
	 	Name:	 Howard W. Lutnick
	 	Title:	 Chairman and Chief Executive Officer

 

	Accepted and agreed this 12th day
    of December, 2018.
	 
	CF
    FINANCE HOLDINGS LLC
	 By:	 /s/
    Howard W. Lutnick	 
	Name:	 Howard W. Lutnick	 
	Title:	 Chief Executive Officer

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