Document:

EX-10.4

 Exhibit 10.4 

Confidential 

E.MERGE TECHNOLOGY ACQUISITION CORP. 

INDEPENDENT DIRECTOR 

COMPENSATION AGREEMENT 

June 22, 2022 
 This
Independent Director Compensation Agreement (the “Agreement”), dated as of the date first noted above, is made by and between E.Merge Technology Acquisition Corp, a Delaware corporation (the
“Company”), E.Merge Technology Sponsor LLC, a Delaware limited liability company (the “Sponsor”) with respect to Section 2 hereof only, and Morgan Hermand, an individual (the
“Independent Director”). 
 RECITALS 

WHEREAS, the Company is a public blank check company formed for the purpose of effecting a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business combination with one or more businesses (such transaction, a “Business Combination”); 

WHEREAS, the Board of Directors of the Company (the “Board”) believes that it is of paramount importance to the
effective corporate governance of the Company and its ability to maximize value through the Business Combination to attract qualified and competent independent members of the Board; 

WHEREAS, the Independent Director has agreed to serve as an independent member of the Board, in consideration for the payment
obligations contained in this agreement; and 
 WHEREAS, in order to ensure compliance with this Agreement in all circumstances, the
Sponsor wishes to provide a guarantee of the payment obligations of the Company under this Agreement in case the Company is dissolved, liquidated or no longer has the financial resources to pay the Independent Director’s compensation. 

AGREEMENT 
 NOW,
THEREFORE, in consideration of the foregoing and the Independent Director’s agreement to serve on the Board of the Company, the Company, the Independent Director and the Sponsor, intending to be legally bound, hereby agree as follows: 

1. Compensation.  
  

	 	a.	 In the event that the Company consummates its Business Combination, the Company will issue to the Independent
Director a one-time award of 12,500 shares of Class A common stock of the Company (or of any other security issued upon the conversion, exchange reclassification, split, reconstruction or similar
transaction consummated as part of the Business Combination with respect to such shares), provided that the Independent Director continues to serve on the board of the Company until the Closing of such Business Combination (the “Equity
Grant”). The Company shall use its commercially reasonable efforts to file, as soon as practicable, but not later than fifteen (15) business days after the closing of its Business Combination, a registration statement covering the
issuance of shares of the Company, including those constituting the Equity Grant, and shall use reasonable best efforts to cause such registration statement to be declared effective as promptly as reasonably practicable after the initial filing
thereof, but in no event later than sixty (60) days following the filing deadline, and the Equity Grant shall be issued promptly following the effectiveness of such registration statement. If no applicable registration statement is in effect

	 	
within 75 days following the closing of its Business Combination, then the Company will immediately issue the Equity Grant to the Independent Director in a private placement and the Company shall
use its commercially reasonable efforts to include the shares constituting the Equity Grant in a registration statement covering the resale of its securities on an eligible stock market in the U.S. promptly following the issuance of the Equity
Grant. 

  

	 	b.	 In the event that the Company does not consummate its Business Combination, and the Company begins the process
of dissolution and/or liquidation, the Company will pay the Independent Director a one-time cash payment of $125,000 immediately prior to the dissolution of the Company, provided that the Independent Director
serves on the board of the Company at such time (the “Cash Payment”). 

  

	 	c.	 Assuming the terms and conditions listed above are met, the Independent Director shall be paid either the
Equity Grant or the Cash Payment, above, but not both, under any circumstances. 

  

	2.	 Sponsor Guarantee. Should the Independent Director earn the compensation listed in Section 1.b.
above but the Company does not for any reason make the full Cash Payment to the Independent Director due thereunder prior to the date the Company liquidates, the Sponsor hereby agrees to pay to the Independent Director, on behalf of the Company,
such portion of the Cash Payment which remains unpaid as necessary to ensure that the full Cash Payment is made to the Independent Director in accordance with the terms of this Agreement. 

 

	3.	 Waiver against Trust. The Independent Director acknowledges that the Company is a blank check company
with the powers and privileges to effect a merger, asset acquisition, reorganization or similar business combination involving the Company and one or more businesses or assets. The Independent Director further acknowledges that, as described in the
Company’s prospectus relating to its initial public offering dated July 30, 2020 (the “Prospectus”) available at www.sec.gov (File No. 333-239836), substantially all of
the Company’s assets consist of the cash proceeds of the Company’s initial public offering and private placement of its securities, and substantially all of those proceeds have been deposited in a trust account (the “Trust
Account”) for the benefit of the Company, its public stockholders and the underwriters of Company’s initial public offering. Except with respect to interest earned on the funds held in the Trust Account that may be released to the
Company to pay its tax obligations, if any, the cash in the Trust Account may be disbursed only for the purposes set forth in the Company’s Prospectus. For and in consideration of the Company entering into this Agreement, the receipt and
sufficiency of which are hereby acknowledged, the Independent Director hereby irrevocably waives any and all right, title and interest, or any claim of any kind it has or may have in the future, in or to any monies held in the Trust Account,
regardless of whether such claim arises as a result of, in connection with or relating in any way to, this Agreement or any proposed or actual business relationship between the Company or its affiliates, on the one hand, and the Independent
Director, on the other hand, or any other matter, and regardless of whether such claim arises based on contract, tort, equity or any other theory of legal liability and irrevocably agrees not to seek recourse against the Trust Account as a result
of, or arising out of, this Agreement. To the extent Independent Director commences any action or proceeding based upon, in connection with, relating to or arising out of any matter relating to Company or its affiliates, which proceeding seeks, in
whole or in part, monetary relief against the Company or its affiliates, the Independent Director hereby acknowledges and agrees that the Independent Director’s sole remedy shall be against funds held outside of the Trust Account and that such
claim shall not permit the Independent Director (or any person claiming on any of their behalves or in lieu of any of the Independent Director) to have any claim against the Trust Account (including any distributions therefrom) or any amounts
contained therein and in the event of any action or proceeding based upon, in connection with, relating to or arising out of any matter relating to the Company or its affiliates, which proceeding seeks, in whole or in part, relief against the Trust
Account (including any distributions therefrom) in violation of this Agreement, Company shall be entitled to recover from the Independent 

	 	
Director and its affiliates, the associated legal fees and costs in connection with any such action, in the event Company or its affiliates, as applicable, prevails in such action or proceeding.
Notwithstanding anything else in this Section 3 to the contrary, nothing herein shall be deemed to limit the Independent Director’s or its affiliates’ right, title, interest or claim to the Trust Account by virtue of the Independent
Director’s record or beneficial ownership of any equity securities of the Company acquired by any means other than pursuant to this Agreement, including but not limited to any redemption right with respect to any such securities of Company.

 4. Miscellaneous. 
  

	 	a.	 The invalidity or unenforceability of any provision hereof shall in no way affect the validity or
enforceability of any other provision. In the event any provision hereof conflicts with any applicable law, such provision shall be deemed modified, consistent with the aforementioned intent, to the extent necessary to resolve such conflict.

  

	 	b.	 No supplement, modification, termination, waiver, restatement or amendment of this Agreement shall be binding
unless executed in writing by the Company and the Independent Director. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver
constitute a continuing waiver. 

  

	 	c.	 This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same the same instrument. Counterparts may be delivered via electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g.,
www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes. 

 

	 	d.	 The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to
constitute part of this Agreement or to affect the construction thereof. 

  

	 	e.	 This Agreement and the legal relations among the parties shall be governed by, and construed and enforced in
accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. The parties hereto irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement
shall be brought only in the Chancery Court of the State of Delaware (the “Delaware Court”), and not in any other state or federal court in the United States of America or any court in any other country, (ii) consent to
submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) waive any objection to the laying of venue of any such action or proceeding in the
Delaware Court, and (iv) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum. 

(Signature Page Follows) 

 IN WITNESS WHEREOF, the parties hereto have executed this Independent Director
Compensation Agreement as of the date first written above. 
  

	
	COMPANY:
	E.Merge Technology Acquisition Corp.
	
	 /s/ Jeff Clarke

	Signature
	
	Jeff Clarke
	
	  
 Print Name

	
	Co-CEO, CFO
	
	  
 Print Title

	
	INDEPENDENT DIRECTOR:
	
	 /s/ Morgan Hermand

	Signature
	
	Morgan Hermand
	
	  
 Print Name

	
	SPONSOR:
	
	E.MERGE TECHNOLOGY SPONSOR LLC
	
	 /s/ Steve Fletcher

	Signature
	
	Steve Fletcher
	
	  
 Print Name

	
	Managing Member
	
	  
 Print Title

 [Signature Page to Independent Director Compensation Agreement]EX-10.5

 Exhibit 10.5 

June 26, 2022 
 E.Merge Technology Acquisition Corp. 

630 Ramona St. 
 Palo Alto, CA 94301 

 

			
	Re:	  	Initial Public Offering

 Ladies and Gentlemen: 
 This
letter (this “Letter Agreement”) is being delivered to you in connection with your appointment as a director of E.Merge Technology Acquisition Corp., a Delaware corporation (the
“Company”), in accordance with the Underwriting Agreement entered into by and among the Company, and Cantor Fitzgerald & Co. and Mizuho Securities USA LLC, as representatives (the
“Representatives”) of the several underwriters (each, an “Underwriter” and collectively, the “Underwriters”), relating to an underwritten initial public offering (the
“Public Offering”), of 60,000,000 of the Company’s units (the “Units”), each comprised of one share of the Company’s Class A common stock, par value $0.0001 per share
(the “Common Stock”), and one-third of one redeemable warrant. Each whole warrant (each, a “Warrant”) entitles the holder thereof to purchase
one share of Common Stock at a price of $11.50 per share, subject to adjustment. The Units were sold in the Public Offering pursuant to a registration statement on Form S-1 (File Nos. 333-239836 and 333-240216) and prospectus (the “Prospectus”) filed by the Company with the U.S. Securities and Exchange Commission (the
“Commission”). Certain capitalized terms used herein are defined in paragraph 5 hereof. 
 For good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the hereby agrees with the Company as follows: 
 1. The undersigned hereby agrees
that in the event that the Company fails to consummate a Business Combination within the timeframe set forth in the Company’s second amended and restated certificate of incorporation, as it may be amended from time to time (the
“Charter”), the undersigned shall take all reasonable steps to cause the Company to (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than 10
business days thereafter, subject to lawfully available funds therefor, redeem 100% of the Common Stock sold as part of the Units in the Public Offering (the “Offering Shares”), at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account (as defined below), including interest earned on the funds held in the Trust Account and not previously released
to the Company to pay its taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Offering Shares, which redemption will completely extinguish all Public Stockholders’ rights as
stockholders (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining
stockholders and the Company’s board of directors, dissolve and liquidate, subject in the case of clauses (ii) and (iii) to the Company’s obligations under Delaware law to provide for claims of creditors and other requirements of
applicable law. The undersigned agrees not to propose any amendment to the Charter to modify (i) the substance or timing of the ability of holders of Offering Shares to seek redemption in connection with a Business Combination or amendments to
the Charter prior thereto or (ii) (A) the Company’s obligation to redeem 100% of the Offering Shares if the Company does not complete a Business Combination within such time set forth in the Charter or (B) any other provisions
relating to stockholders’ rights or pre-initial Business Combination activity, unless the Company provides its public stockholders with the opportunity to redeem their shares of Common Stock upon approval
of any such amendment at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not
previously released to the Company to pay its taxes, divided by the number of then outstanding Offering Shares. 
 The undersigned
acknowledges that he has no right, title, interest or claim of any kind in or to any monies held in the Trust Account or any other asset of the Company as a result of any liquidation of the Company with respect to the Founder Shares or Private
Placement Shares held by him. The undersigned hereby further waives, with respect to any shares of Common Stock held by him, if any, whether acquired now or hereafter, any redemption rights he may have in connection with the consummation of a
Business Combination or amendments to the Charter prior thereto, including, without limitation, any such rights available in the context of a stockholder vote to approve such Business 

 
Combination or a stockholder vote to approve an amendment to the Charter to modify (i) (A) the substance or timing of the Company’s obligation to redeem 100% of the Offering Shares if
the Company has not consummated a Business Combination within the time period set forth in the Charter or (B) any other provisions relating to stockholders’ rights or pre-initial Business Combination
activity or (ii) in the context of a tender offer made by the Company to purchase shares of Common Stock (although the Sponsor, the Insiders and their respective affiliates shall be entitled to redemption and liquidation rights with respect to
any Offering Shares it or they hold if the Company fails to consummate a Business Combination within the time period set forth in the Charter). 

2. The undersigned represents and warrants that he has never been suspended or expelled from membership in any securities or commodities
exchange or association or had a securities or commodities license or registration denied, suspended or revoked. The undersigned’s biographical information furnished to the Company (including any such information included in the Prospectus or
Current Report on Form 8-K filed by the Company in connection with the appointment of the undersigned (the “Form 8-K”)) is true and accurate in all respects
and does not omit any material information with respect to the Insider’s background. The undersigned’s questionnaire furnished to the Company is true and accurate in all respects. The undersigned represents and warrants that: he is not
subject to or a respondent in any legal action for, any injunction, cease-and-desist order or order or stipulation to desist or refrain from any act or practice relating
to the offering of securities in any jurisdiction; he has never been convicted of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any financial transaction or handling of funds of another person, or
(iii) pertaining to any dealings in any securities and he is not currently a defendant in any such criminal proceeding. 
 3. Except as
contemplated in the compensation agreements and director offer letters between the Company and you or as otherwise disclosed in the Prospectus or the Form 8-K, neither any of the Insiders nor affiliate of the
Insiders, shall receive any finder’s fee, reimbursement, consulting fee, monies in respect of any repayment of a loan or other compensation prior to, or in connection with any services rendered in order to effectuate, the consummation of the
Company’s initial Business Combination (regardless of the type of transaction that it is). 
 4. The undersigned has full right and
power, without violating any agreement to which he is bound (including, without limitation, any non-competition or non-solicitation agreement with any employer or former
employer), to enter into this Letter Agreement and, as applicable, to serve as an officer and/or director on the board of directors or an advisor of the Company and hereby consents to being named in the Prospectus or the Form 8-K as an officer and/or director of the Company. 
 5. As used herein, (i)
“Business Combination” shall mean a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination, involving the Company and one or more businesses; (ii)
“Founder Shares” shall mean (a) the 15,000,000 shares of the Company’s Class B common stock, par value $0.0001 per share, initially issued to the Sponsor for an aggregate purchase price of
$25,000, or $0.002 per share, prior to the consummation of the Public Offering; (iii) “Insiders” shall mean members of the Company’s board of directors and/or management team or an advisor of the Company; (iv)
“Private Placement Shares” shall mean the 1,200,000 shares of Common Stock comprising the Private Placement Units; (v)
“Private Placement Units” shall mean the 1,200,000 units, each comprised of one share of Common Stock and one-third of one warrant to purchase one
share of Common Stock, that the Sponsor purchased for an aggregate purchase price of $12,000,000 in the aggregate, or purchase price of $10.00 per Private Placement Unit, in a private placement that occurred simultaneously with the consummation of
the Public Offering; (vii) “Public Stockholders” shall mean the holders of securities issued in the Public Offering; (viii) “Sponsor” shall mean E.Merge Technology Sponsor LLC, a
Delaware limited liability company; and (ix) “Trust Account” shall mean the trust fund into which a portion of the net proceeds of the Public Offering were deposited. 

6. The Company will maintain an insurance policy or policies providing directors’ and officers’ liability insurance, and each
Director shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for any of the Company’s directors or officers. 

7. No party hereto may assign either this Letter Agreement or any of its rights, interests, or obligations hereunder without the prior written
consent of the other parties. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest or title to the purported assignee. This Letter Agreement shall be binding
on the undersigned and his respective successors, heirs and assigns and permitted transferees. 

 8. Nothing in this Letter Agreement shall be construed to confer upon, or give to, any
person or corporation other than the parties hereto any right, remedy or claim under or by reason of this Letter Agreement or of any covenant, condition, stipulation, promise or agreement hereof. All covenants, conditions, stipulations, promises and
agreements contained in this Letter Agreement shall be for the sole and exclusive benefit of the parties hereto and their successors, heirs, personal representatives and assigns and permitted transferees. 

9. This Letter Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all
purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. 
 10. This
Letter Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability of this Letter Agreement or of any other term or provision hereof. Furthermore, in
lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Letter Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be
valid and enforceable. 
 11. This Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State
of New York, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The parties hereto (i) all agree that any action, proceeding, claim or dispute arising out
of, or relating in any way to, this Letter Agreement shall be brought and enforced in the 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. 
 12. Any
notice, consent or request to be given in connection with any of the terms or provisions of this Letter 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 facsimile transmission. 
 13. This Letter Agreement shall terminate on the liquidation of the Company. 

14. The Company, the Sponsor and each Insider hereby acknowledges and agrees that the Representatives on behalf of the Underwriters are third
party beneficiaries of this Letter Agreement. 
 [Signature Page Follows] 

 
			
	Sincerely,
		
	By:	 	 /s/ Benjamin Reitzes

		 	Name: Benjamin Reitzes
		
	By:	 	 /s/ Morgan Hermand

		 	Name: Morgan Hermand

  

			
	Acknowledged and Agreed:
	
	E.MERGE TECHNOLOGY ACQUISITION CORP.
		
	By:	 	 /s/ Jeff Clarke

		 	Name: Jeff Clarke
		 	Title: Co-Chief Executive Officer and Chief Financial Officer

 [Signature Page to Letter Agreement]

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