Document:

Exhibit 10.2

 

INVESTMENT
MANAGEMENT TRUST AGREEMENT

 

This
Agreement is made as of March 23, 2015 by and between Harmony Merger Corp. (the “Company”) and Continental Stock Transfer
& Trust Company (“Trustee”).

 

WHEREAS,
the Company’s registration statement on Form S-1, No. 333-197330 (“Registration Statement”) for its initial
public offering of securities (“IPO”) has been declared effective as of the date hereof (“Effective Date”)
by the Securities and Exchange Commission (capitalized terms used herein and not otherwise defined shall have the meanings set
forth in the Registration Statement); and

 

WHEREAS,
Cantor Fitzgerald & Co. (“Cantor Fitzgerald”) is acting as the representative of the underwriters in the IPO;
and

 

WHEREAS,
as described in the Registration Statement, and in accordance with the Company’s Amended and Restated Certificate of Incorporation,
$102,000,000 of the gross proceeds of the IPO and a private placement taking place simultaneously therewith ($117,300,000 if the
underwriters’ over-allotment option is exercised in full) will be delivered to the Trustee to be deposited and held in a
trust account for the benefit of the Company and the holders of the Company’s common stock, par value $.0001 per share (“Common
Stock”), issued in the IPO as hereinafter provided (the amount to be delivered to the Trustee will be referred to herein
as the “Property”; the stockholders for whose benefit the Trustee shall hold the Property will be referred to as the
“Public Stockholders,” and the Public Stockholders and the Company will be referred to together as the “Beneficiaries”);

 

WHEREAS,
a portion of the Property equal to $3,000,000 (or $3,450,000 if the over-allotment option is exercised in full) is attributable
to deferred underwriting discounts and commissions that may be payable by the Company to Cantor Fitzgerald upon the consummation
of the Business Combination (as defined below) (the “Deferred Underwriting Fee”); and

 

WHEREAS,
the Company and the Trustee desire to enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee
shall hold the Property;

 

IT
IS AGREED:

 

1.        Agreements
and Covenants of Trustee. The Trustee hereby agrees and covenants to:

 

(a)        Hold
the Property in trust for the Beneficiaries in accordance with the terms of this Agreement in a segregated trust account (“Trust
Account”) established by the Trustee at JPMorgan Chase Bank NA in the United States, maintained by Trustee, and at a brokerage
institution selected by the Trustee that is satisfactory to the Company;

 

(b)        Manage,
supervise and administer the Trust Account subject to the terms and conditions set forth herein;

 

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(c)        In
a timely manner, upon the instruction of the Company, invest and reinvest the Property (i) in United States government treasury
bills, notes or bonds having a maturity of 180 days or less and/or (ii) in money market funds meeting certain conditions under
Rule 2a-7 promulgated under the Investment Company Act of 1940, as amended, and that invest solely in U.S. treasuries, as determined
by the Company;

 

(d)        Collect
and receive, when due, all principal and income arising from the Property, which shall become part of the “Property,”
as such term is used herein;

 

(e)        Notify
the Company and Cantor Fitzgerald of all communications received by it with respect to any Property requiring action by the Company;

 

(f)        Supply
any necessary information or documents as may be requested by the Company in connection with the Company’s preparation of
its tax returns;

 

(g)        Participate
in any plan or proceeding for protecting or enforcing any right or interest arising from the Property if, as and when instructed
by the Company to do so;

 

(h)        Render
to the Company monthly written statements of the activities of and amounts in the Trust Account reflecting all receipts and disbursements
of the Trust Account; and

 

(i)        Commence
liquidation of the Trust Account only after and promptly after receipt of, and only in accordance with, the terms of a letter
(“Termination Letter”), in a form substantially similar to that attached hereto as either Exhibit A or Exhibit C,
signed on behalf of the Company by its President, Chief Executive Officer or Chairman of the Board and Secretary or Assistant
Secretary, affirmed by counsel for the Company and, in the case of a Termination Letter in a form substantially similar to that
attached hereto as Exhibit A, acknowledged and agreed to by Cantor Fitzgerald, and complete the liquidation of the Trust Account
and distribute the Property in the Trust Account only as directed in the Termination Letter and the other documents referred to
therein; provided, however, that in the event that a Termination Letter has not been received by the Trustee by the 24-month anniversary
of the Closing, (“Last Date”), the Trust Account shall be liquidated in accordance with the procedures set forth in
the Termination Letter attached as Exhibit B hereto and distributed to the Public Stockholders as of the Last Date. The provisions
of this Section 1(i) may not be modified, amended or deleted under any circumstances.

 

(j)
        Distribute upon receipt of an Amendment Notification Letter (defined below), to Public Stockholders who exercised their conversion
rights in connection with an Amendment (defined below) an amount equal to the pro rata share of the Property relating to the shares
of Common Stock for which such Public Stockholders have exercised conversion rights in connection with such Amendment.

 

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2.        Limited
Distributions of Income from Trust Account.

 

(a)        Upon
written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto
as Exhibit D, the Trustee shall distribute to the Company the amount of interest income earned on the Trust Account requested
by the Company to cover any income or other tax obligation owed by the Company.

 

(b)        The
limited distributions referred to in Section 2(a) above shall be made only from income collected on the Property. Except as provided
in Section 2(a) above, no other distributions from the Trust Account shall be permitted except in accordance with Sections 1(i)
and 1(j) hereof.

 

(c)        The
Company shall provide Cantor Fitzgerald with a copy of any Termination Letters and/or any other correspondence that it issues
to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after such issuance.

 

3.        Agreements
and Covenants of the Company. The Company hereby agrees and covenants to:

 

(a)        Give
all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, Vice Chairman of the
Board, Chief Executive Officer, Chief Operating Officer or Chief Financial Officer. In addition, except with respect to its duties
under paragraphs 1(i), 1(j) and 2(a) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any
verbal or telephonic advice or instruction which it in good faith believes to be given by any one of the persons authorized above
to give written instructions, provided that the Company shall promptly confirm such instructions in writing;

 

(b)        Subject
to the provisions of Sections 5 and 7(g) of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against,
any and all expenses, including reasonable counsel fees and disbursements, or loss suffered by the Trustee in connection with
any claim, potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or in connection
with any claim or demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or
the Property or any income earned from investment of the Property, except for expenses and losses resulting from the Trustee’s
gross negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement
of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this paragraph, it shall
notify the Company in writing of such claim (hereinafter referred to as the “Indemnified Claim”). The Trustee shall
have the right to conduct and manage the defense against such Indemnified Claim, provided, that the Trustee shall obtain the consent
of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not
agree to settle any Indemnified Claim without the prior written consent of the Company, which consent shall not be unreasonably
withheld. The Company may participate in such action with its own counsel;

 

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(c)        Pay
the Trustee an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Section
2(a) as set forth on Schedule A hereto, which fees shall be subject to modification by the parties from time to time. It is expressly
understood that the Property shall not be used to pay such fees and further agreed that any fees owed to the Trustee shall be
deducted by the Trustee from the disbursements made to the Company pursuant to Section 1(i) solely in connection with the consummation
of a Business Combination. The Company shall pay the Trustee the initial acceptance fee and first year’s fee at the consummation
of the IPO and thereafter on the anniversary of the Effective Date;

 

(d)        In
connection with any vote of the Company’s stockholders regarding a Business Combination, provide to the Trustee an affidavit
or certificate of a firm regularly engaged in the business of soliciting proxies and/or tabulating stockholder votes verifying
the vote of the Company’s stockholders regarding such Business Combination; and

 

(e)        In
the event that the Company directs the Trustee to commence liquidation of the Trust Account pursuant to Section 1(i), the Company
agrees that it will not direct the Trustee to make any payments that are not specifically authorized by this Agreement.

 

(f)        
If the Company seeks to amend any provisions of its amended and restated certificate of incorporation relating to stockholders’
rights or pre-Business Combination activity (including the time within which the Company has to complete a Business Combination)
(in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification
Letter”) in the form of Exhibit B providing instructions for the distribution of funds to Public Stockholders who exercise
their conversion option in connection with such Amendment.

 

(g)
        Within four (4) business days after Cantor Fitzgerald exercises the over-allotment option (or any unexercised portion thereof)
or such over-allotment expires, provide the Trustee with a notice in writing of the total amount of the Deferred Underwriting
Fee, which shall in no event be less than $3,000,000.

  

4.        Limitations
of Liability. The Trustee shall have no responsibility or liability to:

 

(a)        Take
any action with respect to the Property, other than as directed in paragraphs 1 and 2 hereof and the Trustee shall have no liability
to any party except for liability arising out of its own gross negligence or willful misconduct;

 

(b)        Institute
any proceeding for the collection of any principal and income arising from, or institute, appear in or defend any proceeding of
any kind with respect to, any of the Property unless and until it shall have received instructions from the Company given as provided
herein to do so and the Company shall have advanced or guaranteed to it funds sufficient to pay any expenses incident thereto;

 

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(c)        Change
the investment of any Property, other than in compliance with paragraph 1(c);

 

(d)        Refund
any depreciation in principal of any Property;

 

(e)        Assume
that the authority of any person designated by the Company to give instructions hereunder shall not be continuing unless provided
otherwise in such designation, or unless the Company shall have delivered a written revocation of such authority to the Trustee;

 

(f)        The
other parties hereto or to anyone else for any action taken or omitted by it, or any action suffered by it to be taken or omitted,
in good faith and in the exercise of its own best judgment, except for its gross negligence or willful misconduct. The Trustee
may rely conclusively and shall be protected in acting upon any order, notice, demand, certificate, opinion or advice of counsel
(including counsel chosen by the Trustee), statement, instrument, report or other paper or document (not only as to its due execution
and the validity and effectiveness of its provisions, but also as to the truth and acceptability of any information therein contained)
which is believed by the Trustee, in good faith, to be genuine and to be signed or presented by the proper person or persons.
The Trustee shall not be bound by any notice or demand, or any waiver, modification, termination or rescission of this Agreement
or any of the terms hereof, unless evidenced by a written instrument delivered to the Trustee signed by the proper party or parties
and, if the duties or rights of the Trustee are affected, unless it shall give its prior written consent thereto;

 

(g)        Verify
the correctness of the information set forth in the Registration Statement or to confirm or assure that any acquisition made by
the Company or any other action taken by it is as contemplated by the Registration Statement; and

 

(h)        File
local, state and/or Federal tax returns or information returns with any taxing authority on behalf of the Trust Account and payee
statements with the Company documenting the taxes, if any, payable by the Company or the Trust Account, relating to the income
earned on the Property.

 

(i)        Pay
any taxes on behalf of the Trust Account (it being expressly understood that the Property shall not be used to pay any such taxes
and that such taxes, if any, shall be paid by the Company from funds not held in the Trust Account or released to it under Section
2(a) hereof).

 

(j)        Imply
obligations, perform duties, inquire or otherwise be subject to the provisions of any agreement or document other than this agreement
and that which is expressly set forth herein.

 

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(k)        Verify
calculations, qualify or otherwise approve Company requests for distributions pursuant to Sections 1(i), 1(j) or 2(a) above.

 

5.        Trust
Account Waiver. The Trustee has no right of set-off or any right, title, interest or claim of any kind (“Claim”)
to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account
that it may have now or in the future. In the event the Trustee has any Claim against the Company under this Agreement, including,
without limitation, under Section 3(b) or Section 3(c) hereof, the Trustee shall pursue such Claim solely against the Company
and its assets outside the Trust Account and not against the Property or any monies in the Trust Account

 

6.        Termination.
This Agreement shall terminate as follows:

 

(a)        If
the Trustee gives written notice to the Company that it desires to resign under this Agreement, the Company shall use its reasonable
efforts to locate a successor trustee during which time the Trustee shall act in accordance with this Agreement. At such time
that the Company notifies the Trustee that a successor trustee has been appointed by the Company and has agreed to become subject
to the terms of this Agreement, the Trustee shall transfer the management of the Trust Account to the successor trustee, including
but not limited to the transfer of copies of the reports and statements relating to the Trust Account, whereupon this Agreement
shall terminate; provided, however, that, in the event that the Company does not locate a successor trustee within ninety days
of receipt of the resignation notice from the Trustee, the Trustee may submit an application to have the Property deposited with
any court in the State of New York or with the United States District Court for the Southern District of New York and upon such
deposit, the Trustee shall be immune from any liability whatsoever; or

 

(b)        At
such time that the Trustee has completed the liquidation of the Trust Account in accordance with the provisions of paragraph 1(i)
hereof, and distributed the Property in accordance with the provisions of the Termination Letter, this Agreement shall terminate
except with respect to Paragraph 3(b).

 

7.        Miscellaneous.

 

(a)        The
Company and the Trustee each acknowledge that the Trustee will follow the security procedures set forth below with respect to
funds transferred from the Trust Account. The Company and the Trustee will each restrict access to confidential information relating
to such security procedures to authorized persons. Each party must notify the other party immediately if it has reason to believe
unauthorized persons may have obtained access to such information, or of any change in its authorized personnel. In executing
funds transfers, the Trustee will rely upon all information supplied to it by the Company, including account names, account numbers
and all other identifying information relating to a beneficiary, beneficiary’s bank or intermediary bank. The Trustee shall
not be liable for any loss, liability or expense resulting from any error in the information or transmission of the wire.

 

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(b)        This
Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving
effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. It
may be executed in several original or facsimile counterparts, each one of which shall constitute an original, and together shall
constitute but one instrument.

 

(c)        This
Agreement contains the entire agreement and understanding of the parties hereto with respect to the subject matter hereof. Except
for Section 1(i) (which may not be amended under any circumstances), this Agreement or any provision hereof may only be changed,
amended or modified by a writing signed by each of the parties hereto; provided, however, that no such change, amendment or modification
may be made without the prior written consent of Cantor Fitzgerald. As to any claim, cross-claim or counterclaim in any way relating
to this Agreement, each party waives the right to trial by jury. The Trustee may require from Company counsel an opinion as to
the propriety of any proposed amendment.

 

(d)        The
parties hereto consent to the jurisdiction and venue of any state or federal court located in the City of New York, Borough of
Manhattan, for purposes of resolving any disputes hereunder.

 

(e)        Any
notice, consent or request to be given in connection with any of the terms or provisions of this Agreement shall be in writing
and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery
or by facsimile transmission:

 

if
to the Trustee, to:

 

Continental
Stock Transfer

&
Trust Company

17
Battery Place

New
York, New York 10004

Attn:
Steven G. Nelson, Chairman, and Frank A. DiPaolo, CFO

Fax
No.: (212) 509-5150

 

if
to the Company, to:

 

Harmony
Merger Corp.

777
Third Avenue, 37th Floor

New
York, New York 10017

Attn:
Eric. S. Rosenfeld, Chairman and Chief Executive Officer

Fax
No.: (212) 319-0760

 

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in
either case with a copy to:

 

Cantor
Fitzgerald & Company

499
Park Avenue

New
York, New York 10022

Attn:
David Batalion

Fax
No.: (___) ___-____

 

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

 

(g)        Each
of the Trustee and the Company hereby represents that it has the full right and power and has been duly authorized to enter into
this Agreement and to perform its respective obligations as contemplated hereunder. The Trustee acknowledges and agrees that it
shall not make any claims or proceed against the Trust Account, including by way of set-off, and shall not be entitled to any
funds in the Trust Account under any circumstance. In the event that the Trustee has a claim against the Company under this Agreement,
the Trustee will pursue such claim solely against the Company and not against the Property held in the Trust Account.

 

(h)        Each
of the Company and the Trustee hereby acknowledge that Cantor Fitzgerald is a third party beneficiary of this Agreement.

 

[Signature
Page Follows]

 

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IN WITNESS
WHEREOF, the parties have duly executed this Investment Management Trust Agreement as of the date first written above.

 

	 	CONTINENTAL
    STOCK TRANSFER & TRUST

COMPANY, as Trustee
	 	 	 
	 	By:	/s/
    Frank A. Di Paolo
	 	 	Name:  Frank
    A. Di Paolo
	 	 	Title:  Trust
    Officer
	 	 	 
	 	HARMONY
    MERGER CORP.
	 	 	 
	 	By:	/s/
    Eric S. Rosenfeld
	 	 	Name:
    Eric S. Rosenfeld
	 	 	Title:
    Chief Executive Officer

 

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SCHEDULE
A

 

	Fee
    Item	Time
    and method of payment 	Amount
	Initial
    acceptance fee	Initial
    closing of IPO by wire transfer	$2,000
	Annual
    fee	First
    year, initial closing of IPO by wire transfer; thereafter on the anniversary of the effective date of the IPO by wire transfer
    or check	$10,000
	Transaction
    processing fee for disbursements to Company under Section 2	Deduction
    by Trustee from accumulated income following disbursement made to Company under Section 2	$250
	Paying
    Agent services as required pursuant to section 1(i)	Billed
    to Company upon delivery of service pursuant to section 1(i)	 

        Prevailing
        rates

         

 

    	10

    	 

    

 

EXHIBIT
A

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer & Trust Company

17
Battery Place

New
York, New York 10004

Attn:
Steven Nelson and Frank DiPaolo

 

	 	Re:	Trust
    Account No.  XXXXXX - Termination Letter

 

Gentlemen:

 

Pursuant
to paragraph 1(i) of the Investment Management Trust Agreement between Harmony Merger Corp. (“Company”) and Continental
Stock Transfer & Trust Company (“Trustee”), dated as of March 23, 2015 (“Trust Agreement”), this is
to advise you that the Company has entered into an agreement (“Business Agreement”) with __________________ (“Target
Business”) to consummate a business combination with Target Business (“Business Combination”) on or about [insert
date]. The Company shall notify you at least 48 hours in advance of the actual date of the consummation of the Business Combination
(“Consummation Date”). Capitalized terms used herein and not otherwise defined shall have the meanings set forth in
the Trust Agreement.

 

In
accordance with the terms of the Trust Agreement, we hereby authorize you to liquidate the Trust Account investments on
__________ and to transfer the proceeds to the above-referenced account at ________ to the effect that, on the Consummation
Date, all of funds held in the Trust Account will be immediately available for transfer to the account or accounts that the
Company shall direct on the Consummation Date. It is acknowledged and agreed that while the funds are on deposit in the trust
account awaiting distribution, the Company will not earn any interest or dividends.

 

On
the Consummation Date (i) counsel for the Company shall deliver to you written notification that the Business Combination has
been consummated and (ii) the Company shall deliver to you (a) [an affidavit] [a certificate] of __________________, which verifies
the vote of the Company’s stockholders in connection with the Business Combination if a vote is held and (b) joint written
instructions from it and Cantor Fitzgerald & Co. with respect to the transfer of the funds held in the Trust Account, including
payment of the Deferred Underwriting Fee from the Trust Account (“Instruction Letter”). You are hereby directed and
authorized to transfer the funds held in the Trust Account immediately upon your receipt of the counsel's letter and the Instruction
Letter, in accordance with the terms of the Instruction Letter. In the event that certain deposits held in the Trust Account may
not be liquidated by the Consummation Date without penalty, you will notify the Company of the same and the Company shall direct
you as to whether such funds should remain in the Trust Account and distributed after the Consummation Date to the Company. Upon
the distribution of all the funds in the Trust Account pursuant to the terms hereof, the Trust Agreement shall be terminated.

 

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In
the event that the Business Combination is not consummated on the Consummation Date described in the notice thereof and we have
not notified you on or before the original Consummation Date of a new Consummation Date, then upon receipt by the Trustee of written
instructions from the Company, the funds held in the Trust Account shall be reinvested as provided in the Trust Agreement on the
business day immediately following the Consummation Date as set forth in the notice.

 

	 	Very
    truly yours,
	 	 
	 	HARMONY
    MERGER CORP.
	 	 	 
	 	By:	 
	 	 	Eric
    S. Rosenfeld, Chairman of the Board
	 	 	 
	 	By:	 
	 	 	David
    D. Sgro, Chief Operating Officer

 

	AGREED TO AND	 
	ACKNOWLEDGED BY	 
	 	 	 
	CANTOR FITZGERALD & CO.	 
	 	 	 
	By:	 	 

 

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EXHIBIT
B

[Letterhead
of Company]

 

[Insert
date]

Continental
Stock Transfer & Trust Company

17
Battery Place

New
York, New York 10004

Attn:
Steven Nelson and Frank DiPaolo

 

	 	Re:	Trust
    Account No.  XXXXXX - Termination Letter

 

Gentlemen:

 

Reference
is made to the Investment Management Trust Agreement between Harmony Merger Corp. (“Company”) and Continental Stock
Transfer & Trust Company, dated as of March 23, 2015 (“Trust Agreement”). Capitalized words used herein and not
otherwise defined shall have the meanings ascribed to them in the Trust Agreement.

 

Pursuant
to Section 1(j) of the Trust Agreement, this is to advise you that the Company has sought an Amendment. Accordingly,
in accordance with the terms of the Trust Agreement, we hereby authorize you to liquidate the Trust Account on
[         ] and to transfer $_____ of the proceeds of
the Trust to the checking account at [           ] for
distribution to the stockholders that have requested conversion of their shares in connection with such Amendment. The
remaining funds shall be reinvested by you as previously instructed.

 

	 	Very
    truly yours,
	 	 
	 	HARMONY
    MERGER CORP.
	 	 	 
	 	By:	 
	 	 	Eric
    S. Rosenfeld, Chairman of the Board
	 	 	 
	 	By:	 
	 	 	David
    D. Sgro, Chief Operating Officer

 

cc:
Cantor Fitzgerald & Co.

 

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EXHIBIT
C

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer & Trust Company

17
Battery Place

New
York, New York 10004

Attn:
Steven Nelson and Frank DiPaolo

 

	 	Re:	Trust
    Account No.  XXXXXX - Termination Letter

 

Gentlemen:

 

Pursuant
to paragraph 1(i) of the Investment Management Trust Agreement between Harmony Merger Corp. (“Company”) and Continental
Stock Transfer & Trust Company (“Trustee”), dated as of March 23, 2015 (“Trust Agreement”), this is
to advise you that the Company has been unable to effect a Business Combination with a Target Company within the time frame specified
in the Company’s Amended and Restated Certificate of Incorporation, as described in the Company’s prospectus relating
to its IPO. Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Trust Agreement.

 

In
accordance with the terms of the Trust Agreement, we hereby authorize you to liquidate all the Trust Account investments on ______________
and to transfer the total proceeds to the Trust Checking Account at  to await distribution to the Public Stockholders.
The Company has selected ____________, 20__ as the record date for the purpose of determining the Public Stockholders entitled
to receive their share of the liquidation proceeds. It is acknowledged that no interest will be earned by the Company on the liquidation
proceeds while on deposit in the Trust Checking Account. You agree to be the Paying Agent of record and in your separate capacity
as Paying Agent, to distribute said funds directly to the Public Stockholders in accordance with the terms of the Trust Agreement
and the Amended and Restated Certificate of Incorporation of the Company. Upon the distribution of all the funds in the Trust
Account, your obligations under the Trust Agreement shall be terminated.

 

	 	Very
    truly yours,
	 	 
	 	HARMONY
    MERGER CORP.
	 	 	 
	 	By:	 
	 	 	Eric
    S. Rosenfeld, Chairman of the Board
	 	 	 
	 	By:	 
	 	 	David
    D. Sgro, Chief Operating Officer

 

cc:
Cantor Fitzgerald & Co.

 

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EXHIBIT
D

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer & Trust Company

17
Battery Place

New
York, New York 10004

Attn:
Frank Di Paolo and Cynthia Jordan

 

	 	Re:	Trust
    Account No. XXXXXX

 

Gentlemen:

 

Pursuant
to paragraph 2(a) of the Investment Management Trust Agreement between Harmony Merger Corp. (“Company”) and Continental
Stock Transfer & Trust Company (“Trustee”), dated as of March 23, 2015 (“Trust Agreement”), the Company
hereby requests that you deliver to the Company $_______ of the interest income earned on the Property as of the date hereof.
The Company needs such funds to pay for its tax obligations. In accordance with the terms of the Trust Agreement, you are hereby
directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to the Company’s
operating account at:

 

[WIRE
INSTRUCTION INFORMATION]

 

	 	HARMONY
    MERGER CORP.
	 	 	 
	 	By:	 
	 	 	Eric
    S. Rosenfeld, Chairman of the Board
	 	 	 
	 	By:	 
	 	 	David
    D. Sgro, Chief Operating Officer

 

cc:
Cantor Fitzgerald & Co.

 

 

15Exhibit 10.3

 

STOCK ESCROW AGREEMENT

 

STOCK ESCROW AGREEMENT, dated as of March 23,
2015 (“Agreement”), by and among HARMONY MERGER CORP., a Delaware corporation (“Company”), ERIC S. ROSENFELD,
DAVID D. SGRO, GREG MONAHAN, THOMAS KOBYLARZ, JOHN SCHAUERMAN, ADAM SEMLER, LEONARD B. SCHLEMM, JOEL GREENBLATT, JEFF HASTINGS,
COVALENT CAPITAL PARTNERS MASTER FUND, L.P., NPIC LIMITED, THE K2 PRINCIPAL FUND L.P., HALCYON MASTER FUND L.P., ROSENFELD CHILDREN’S
SUCCESSOR TRUST and DKU 2013 LLC (“Initial Stockholders”) and CONTINENTAL STOCK TRANSFER & TRUST COMPANY, a New
York corporation (“Escrow Agent”).

 

WHEREAS, the Company has entered into an Underwriting
Agreement, dated as of March 23, 2015 (“Underwriting Agreement”), with Cantor Fitzgerald & Co. (“Cantor Fitzgerald”)
acting as representative of the several underwriters (collectively, the “Underwriters”), pursuant to which, among other
matters, the Underwriters have agreed to purchase 10,000,000 units (“Units”) of the Company, plus an additional 1,500,000
Units if the Underwriters exercise their over-allotment option in full. Each Unit consists of one share of common stock of the
Company, par value $0.0001 per share (“Common Stock”), and one warrant to purchase one share of Common Stock (as more
fully described in the Company’s final Prospectus, dated March 23, 2015 (“Prospectus”), comprising part of the
Company’s Registration Statement on Form S-1 (File No. 333-197330) under the Securities Act of 1933, as amended (“Registration
Statement”), declared effective on March 23, 2015 (“Effective Date”) and hereinafter referred to as a “Business
Combination”).

 

WHEREAS, the Initial Stockholders have agreed
as a condition of the sale of the Units to deposit their shares of Common Stock of the Company, as set forth opposite their respective
names in Exhibit A attached hereto (collectively “Escrow Shares”), in escrow as hereinafter provided.

 

WHEREAS, the Company and the Initial Stockholders
desire that the Escrow Agent accept the Escrow Shares, in escrow, to be held and disbursed as hereinafter provided.

 

IT IS AGREED:

 

1.    Appointment of
Escrow Agent. The Company and the Initial Stockholders hereby appoint the Escrow Agent to act in accordance with and subject
to the terms of this Agreement and the Escrow Agent hereby accepts such appointment and agrees to act in accordance with and subject
to such terms.

 

2.    Deposit of Escrow
Shares. On or before the Effective Date, each of the Initial Stockholders shall deliver to the Escrow Agent certificates representing
such Initial Stockholder’s respective Escrow Shares, to be held and disbursed subject to the terms and conditions of this
Agreement. Each of the Initial Stockholders acknowledges that the certificate representing such Initial Stockholder’s Escrow
Shares is legended to reflect the deposit of such Escrow Shares under this Agreement.  

 

    	 

    	 

    

 

3.    Disbursement of
the Escrow Shares.

 

3.1       The
Escrow Agent shall hold the Escrow Shares during the period (the “Escrow Period”) commencing on the date hereof and
ending (i) for 50% of the Escrow Shares, on the earlier of (x) one year after the date of the consummation of the Company’s
initial Business Combination and (y) the date on which the closing price of the Company’s Common Stock equals or exceeds
$12.50 per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations) for any 20 trading days
within any 30-trading day period commencing after the Company’s initial Business Combination and (ii) for the remaining 50%
of the Escrow Shares, one year after the date of the consummation of an initial Business Combination. The Company shall promptly
provide notice of the consummation of a Business Combination to the Escrow Agent. Upon completion of the Escrow Period, the Escrow
Agent shall disburse such amount of each Initial Stockholder’s Escrow Shares (and any applicable share power) to such Initial
Stockholder; provided, however, that if the Escrow Agent is notified by the Company pursuant to Section 6.7 hereof that the Company
is being liquidated at any time during the Escrow Period, then the Escrow Agent shall promptly destroy the certificates representing
the Escrow Shares; provided further, however, that if, within one year after the Company consummates a Business Combination, the
Company (or the surviving entity) subsequently consummates a liquidation, merger, stock exchange or other similar transaction which
results in all of the stockholders of such entity having the right to exchange their shares of Common Stock for cash, securities
or other property, then the Escrow Agent will, upon receipt of a notice executed by the Chairman of the Board, Chief Executive
Officer or other authorized officer of the Company, in form reasonably acceptable to the Escrow Agent, certifying that such transaction
is then being consummated or such conditions have been achieved, as applicable, release the Escrow Shares to the Initial Stockholders.
The Escrow Agent shall have no further duties hereunder after the disbursement or destruction of the Escrow Shares in accordance
with this Section 3.

 

3.2       Notwithstanding
Section 3.1, if the Underwriters do not exercise their over-allotment option to purchase an additional 1,500,000 Units of the Company
in full within 45 days of the date of the Prospectus (as described in the Underwriting Agreement), the Initial Stockholders agree
that the Escrow Agent shall return to the Company for cancellation, at no cost, the number of Escrow Shares held by each such holder
determined by multiplying (a) the product of (i) 575,000, multiplied by (ii) a fraction, (x) the numerator of which is the number
of Escrow Shares held by each such holder, and (y) the denominator of which is the total number of Escrow Shares, by (b) a fraction,
(i) the numerator of which is 1,500,000 minus the number of shares of Common Stock purchased by the Underwriters upon the exercise
of their over-allotment option, and (ii) the denominator of which is 1,500,000. The Company shall promptly provide notice to the
Escrow Agent of the expiration or termination of the Underwriters’ over-allotment option and the number of Units, if any,
purchased by the Underwriters in connection with their exercise thereof.

 

4.    Rights of Initial
Shareholders in Escrow Shares.

 

4.1       Voting
Rights as a Stockholder. Subject to the terms of the Insider Letters described in Section 4.4 hereof and except as herein provided,
the Initial Stockholders shall retain all of their rights as stockholders of the Company during the Escrow Period, including, without
limitation, the right to vote such shares. 

 

    	2

    	 

    

 

4.2       Dividends
and Other Distributions in Respect of the Escrow Shares. During the Escrow Period, all dividends payable in cash with respect
to the Escrow Shares shall be paid to the Initial Stockholders, but all dividends payable in stock or other non-cash property (“Non-Cash
Dividends”) shall be delivered to the Escrow Agent to hold in accordance with the terms hereof. As used herein, the term
“Escrow Shares” shall be deemed to include the Non-Cash Dividends distributed thereon, if any.

 

4.3       Restrictions
on Transfer. During the Escrow Period, the only permitted transfers of the Escrow Shares will be (i) amongst the Initial Stockholders
or their affiliates or to the Company’s officers, directors and employees, (ii) by bona fide gift to a member of the Initial
Stockholder’s immediate family or to a trust, the beneficiary of which is the Initial Stockholder or a member of the Initial
Stockholder’s immediate family for estate planning purposes, (iii) by virtue of the laws of descent and distribution upon
death of the Initial Stockholder, (iv) pursuant to a qualified domestic relations order, (v) by certain pledges to secure obligations
incurred in connection with purchases of the Company’s securities, (vi) by private sales made at or prior to the consummation
of a Business Combination at prices no greater than the price at which the Escrow Shares were originally purchased or (vii) to
the Company for cancellation in connection with the consummation of a Business Combination, in each case, except for clause (vii),
on the condition that such transfers may be implemented only upon the respective transferee’s written agreement to be bound
by the terms and conditions of this Agreement and of the Insider Letter (as defined below) signed by the Initial Stockholder transferring
the Escrow Shares.

 

4.4       Insider
Letters. Each of the Initial Stockholders has executed a letter agreement with Cantor Fitzgerald and the Company, dated as
indicated on Exhibit A hereto, and the form of which is filed as an exhibit to the Registration Statement (“Insider Letter”),
respecting the rights and obligations of such Initial Stockholder in certain events, including but not limited to the liquidation
of the Company.

 

5.    Concerning the
Escrow Agent.

 

5.1       Good
Faith Reliance. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith and in the exercise
of its own best judgment, and may rely conclusively and shall be protected in acting upon any order, notice, demand, certificate,
opinion or advice of counsel (including counsel chosen by the Escrow Agent), statement, instrument, report or other paper or document
(not only as to its due execution and the validity and effectiveness of its provisions, but also as to the truth and acceptability
of any information therein contained) which is believed by the Escrow Agent to be genuine and to be signed or presented by the
proper person or persons. The Escrow Agent shall not be bound by any notice or demand, or any waiver, modification, termination
or rescission of this Agreement unless evidenced by a writing delivered to the Escrow Agent signed by the proper party or parties
and, if the duties or rights of the Escrow Agent are affected, unless it shall have given its prior written consent thereto. 

 

    	3

    	 

    

 

5.2       Indemnification.
The Escrow Agent shall be indemnified and held harmless by the Company from and against any expenses, including counsel fees and
disbursements, or loss suffered by the Escrow Agent in connection with any action, suit or other proceeding involving any claim
which in any way, directly or indirectly, arises out of or relates to this Agreement, the services of the Escrow Agent hereunder,
or the Escrow Shares held by it hereunder, other than expenses or losses arising from the gross negligence or willful misconduct
of the Escrow Agent. Promptly after the receipt by the Escrow Agent of notice of any demand or claim or the commencement of any
action, suit or proceeding, the Escrow Agent shall notify the other parties hereto in writing. In the event of the receipt of such
notice, the Escrow Agent, in its sole discretion, may commence an action in the nature of interpleader in an appropriate court
to determine ownership or disposition of the Escrow Shares or it may deposit the Escrow Shares with the clerk of any appropriate
court or it may retain the Escrow Shares pending receipt of a final, non appealable order of a court having jurisdiction over all
of the parties hereto directing to whom and under what circumstances the Escrow Shares are to be disbursed and delivered. The provisions
of this Section 5.2 shall survive in the event the Escrow Agent resigns or is discharged pursuant to Sections 5.5 or 5.6 below.

 

5.3       Compensation.
The Escrow Agent shall be entitled to reasonable compensation from the Company for all services rendered by it hereunder. The Escrow
Agent shall also be entitled to reimbursement from the Company for all expenses paid or incurred by it in the administration of
its duties hereunder including, but not limited to, all counsel, advisors’ and agents’ fees and disbursements and all
taxes or other governmental charges.

 

5.4       Further
Assurances. From time to time on and after the date hereof, the Company and the Initial Stockholders shall deliver or cause
to be delivered to the Escrow Agent such further documents and instruments and shall do or cause to be done such further acts as
the Escrow Agent shall reasonably request to carry out more effectively the provisions and purposes of this Agreement, to evidence
compliance herewith or to assure itself that it is protected in acting hereunder.

 

5.5       Resignation.
The Escrow Agent may resign at any time and be discharged from its duties as escrow agent hereunder by its giving the other parties
hereto written notice and such resignation shall become effective as hereinafter provided. Such resignation shall become effective
at such time that the Escrow Agent shall turn over to a successor escrow agent appointed by the Company, the Escrow Shares held
hereunder. If no new escrow agent is so appointed within the 60 day period following the giving of such notice of resignation,
the Escrow Agent may deposit the Escrow Shares with any court it reasonably deems appropriate.

 

5.6       Discharge
of Escrow Agent. The Escrow Agent shall resign and be discharged from its duties as escrow agent hereunder if so requested
in writing at any time by the other parties hereto, jointly, provided, however, that such resignation shall become effective only
upon acceptance of appointment by a successor escrow agent as provided in Section 5.5.

 

5.7       Liability.
Notwithstanding anything herein to the contrary, the Escrow Agent shall not be relieved from liability hereunder for its own gross
negligence or its own willful misconduct.

 

5.8       Waiver.
The Escrow Agent hereby waives any right of set-off or any other right, title, interest or claim of any kind (“Claim”)
in, or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of
the date hereof, by and between the Company and the Escrow Agent as trustee thereunder) and hereby agrees not to seek recourse,
reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever.

 

    	4

    	 

    

 

6.    Miscellaneous.

 

6.1       Governing
Law. This Agreement shall for all purposes be deemed to be made under and shall be construed in accordance with the laws of
the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive
laws of another jurisdiction.

 

6.2       Third
Party Beneficiaries. Each of the Initial Stockholders hereby acknowledges that the Underwriters are third party beneficiaries
of this Agreement and this Agreement may not be modified or changed without the prior written consent of Cantor Fitzgerald.

 

6.3       Entire
Agreement. This Agreement contains the entire agreement of the parties hereto with respect to the subject matter hereof and,
except as expressly provided herein, may not be changed or modified except by an instrument in writing signed by the party to the
charged.

 

6.4       Headings.
The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation
thereof.

 

6.5       Binding
Effect. This Agreement shall be binding upon and inure to the benefit of the respective parties hereto and their legal representatives,
successors and assigns.

 

6.6       Notices.
Any notice or other communication required or which may be given hereunder shall be in writing and either be delivered personally
or be mailed, certified or registered mail, or by private national courier service, return receipt requested, postage prepaid,
and shall be deemed given when so delivered personally or, if mailed, two days after the date of mailing, as follows:

 

If to the Company, to:

 

Harmony Merger Corp.

777 Third Avenue, 37th Floor

New York, New York 10017

Attn: Eric S. Rosenfeld, Chairman and
Chief Executive Officer

 

If to a Stockholder, to his address set forth
in Exhibit A.

 

and if to the Escrow Agent, to:

 

Continental Stock Transfer & Trust
Company

17 Battery Place

New York, New York 10004

Attn: Chairman 

 

A copy of any notice sent hereunder shall be
sent to:

 

Cantor Fitzgerald & Co.

499 Park Avenue

New York, New York 10022

Attn: David Batalion

 

    	5

    	 

    

 

and:

 

Graubard Miller

The Chrysler Building

405 Lexington Avenue

New York, New York 10174

Attn: David Alan Miller, Esq.

 

and:

 

Ellenoff Grossman & Schole LLP

1345 Avenue of the Americas

New York, New York 10105

Attn: Douglas S. Ellenoff, Esq.

 

The parties may change the persons and addresses
to which the notices or other communications are to be sent by giving written notice to any such change in the manner provided
herein for giving notice.

 

6.7       Liquidation
of the Company. The Company shall give the Escrow Agent written notification of the liquidation and dissolution of the Company
in the event that the Company fails to consummate a Business Combination within the time period specified in the Prospectus.

 

[Signature Page Follows]

 

    	6

    	 

    

 

WITNESS the execution of this Agreement as of
the date first above written.

 

	 	COMPANY:
	 	 	 
	 	HARMONY MERGER CORP.
	 	 	 
	 	By:	/s/ David D. Sgro
	 	 	Name: David D. Sgro
	 	 	Title: Chief Operating Officer
	 	 	 
	 	INITIAL STOCKHOLDERS:
	 	 	 
	 	 	/s/ Eric S. Rosenfeld
	 	 	Eric S. Rosenfeld
	 	 	 
	 	DKU 2013, LLC
	 	 	 
	 	By:	/s/ Jeff Moses
	 	 	Name: Jeff Moses
	 	 	Title:
	 	 	 
	 	NPIC Limited
	 	 	 
	 	By:	/s/ Greg Lemaich
	 	 	Name: Greg Lemaich
	 	 	Title: General Consel
	 	 	 
	 	THE K2 PRINCIPAL FUND L.P.
	 	 	 
	 	By:	/s/ Shawn Kimel
	 	 	Name: Shawn Kimel
	 	 	Title: Managing Partner
	 	 	 
	 	COVALENT CAPITAL PARTNERS MASTER FUND, L.P.
	 	 	 
	 	By:	/s/ William C. Stone Jr.
	 	 	Name: William C. Stone Jr.
	 	 	Title: Authorized Signatory
	 	 	 

 

    	7

    	 

    

 

	 	HALCYON MASTER FUND L.P.
	 	By Halcyon Offshore Asset Management LLC, its investment manager
	 	 	 
	 	By:	/s/ Manish K. Mital; /s/ Jacob Fishells
	 	 	Name: Manish K. Mital; Jacob Fishells
	 	 	Title: General Counsel; Authorized Signatory
	 	 	 
	 	ROSENFELD CHILDREN’S SUCCESSOR TRUST
	 	 	 
	 	By:	/s/ Eric S. Rosenfeld
	 	 	Name: Eric S. Rosenfeld
	 	 	Title:
	 	 	 
	 	 	/s/ David D. Sgro
	 	 	David D. Sgro
	 	 	 
	 	 	/s/ Gregory Monahan
	 	 	Gregory Monahan
	 	 	 
	 	 	/s/ Thomas Kobylarz
	 	 	Thomas Kobylarz
	 	 	 
	 	 	/s/ John Schauerman
	 	 	John Schauerman
	 	 	 
	 	 	/s/ Adam Semler
	 	 	Adam Semler
	 	 	 
	 	 	/s/ Leonard B. Schlemm
	 	 	Leonard B. Schlemm
	 	 	 
	 	 	/s/ Joel Greenblatt
	 	 	Joel Greenblatt
	 	 	 
	 	 	/s/ Jeff Hastings
	 	 	Jeff Hastings
	 	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY
	 	 	 
	 	By:	/s/ Kevin Jennings
	 	 	Name: Kevin Jennings
	 	 	Title: Vice-President

 

    	8

    	 

    

 

EXHIBIT A

 

	
        Name and Address of 

        Initial Stockholder 
	
        Number

        of Shares
	
        Stock 

        Certificate
        Number
	
        Date of
        

        Insider
        Letter

	 	 	 	 
	
        Leonard Schlemm

        c/o Harmony Merger Corp.

        777 Third Avenue, 37th Floor

        New York, NY 10017
	119,800	1	March 23, 2015
	 	 	 	 
	
        John Schauerman

        c/o Harmony Merger Corp.

        777 Third Avenue, 37th Floor

        New York, NY 10017
	15,000	2	March 23, 2015
	 	 	 	 
	
        Adam Semler

        c/o Harmony Merger Corp.

        777 Third Avenue, 37th Floor

        New York, NY 10017
	15,000	3	March 23, 2015
	 	 	 	 
	
        Joel Greenblatt

        c/o Harmony Merger Corp.

        777 Third Avenue, 37th Floor

        New York, NY 10017
	15,000	4	March 23, 2015
	 	 	 	 
	
        Eric Rosenfeld

        c/o Harmony Merger Corp.

        777 Third Avenue, 37th Floor

        New York, NY 10017
	1,525,566	5	March 23, 2015
	 	 	 	 
	
        Rosenfeld Children’s Successor Trust

        c/o Harmony Merger Corp.

        777 Third Avenue, 37th Floor

        New York, NY 10017
	60,000	6	March 23, 2015
	 	 	 	 
	
        David Sgro

        c/o Harmony Merger Corp.

        777 Third Avenue, 37th Floor

        New York, NY 10017
	310,956	7	March 23, 2015
	 	 	 	 
	
        Greg Monahan

        c/o Harmony Merger Corp.

        777 Third Avenue, 37th Floor

        New York, NY 10017
	134,593	8	March 23, 2015
	 	 	 	 
	
        Tom Kobylarz

        c/o Harmony Merger Corp.

        777 Third Avenue, 37th Floor

        New York, NY 10017
	60,335	9	March 23, 2015

  

    	9

    	 

    

 

	
        Name and Address of 

        Initial Stockholder 
	
        Number

        of Shares
	
        Stock 

        Certificate
        Number
	
        Date of
        

        Insider
        Letter

	 	 	 	 
	
        Jeff Hastings

        c/o Harmony Merger Corp.

        777 Third Avenue, 37th Floor

        New York, NY 10017
	100,000	10	March 23, 2015
	 	 	 	 
	
        Covalent Capital Partners Master Fund, L.P.

        c/o Harmony Merger Corp.

        777 Third Avenue, 37th Floor

        New York, NY 10017
	180,000	11	March 23, 2015
	 	 	 	 
	
        Halcyon Master Fund L.P.

        c/o Harmony Merger Corp.

        777 Third Avenue, 37th Floor

        New York, NY 10017
	215,000	12	March 23, 2015
	 	 	 	 
	
        DKU 2013 LLC

        c/o Harmony Merger Corp.

        777 Third Avenue, 37th Floor

        New York, NY 10017
	195,000	13	March 23, 2015
	 	 	 	 
	
        NCIP Limited

        c/o Harmony Merger Corp.

        777 Third Avenue, 37th Floor

        New York, NY 10017
	40,000	14	March 23, 2015
	 	 	 	 
	
        The K2 Principal Fund L.P.

        c/o Harmony Merger Corp.

        777 Third Avenue, 37th Floor

        New York, NY 10017
	40,000	15	March 23, 2015

 

 

10

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