Document:

Exhibit 10.2

        

       

        

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

    

    
      

      

    

    
      PROMISSORY NOTE

       

    

    	
            Principal Amount:  Up to $300,000

          	
            Dated as of September 21, 2020

            New York, New York

          

    
       

    

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

    

    
       

      1.            

      Principal. The
        principal balance of this Note shall be payable by the Maker on the earlier of: (i) June 30, 2021 or (ii) the date on which Maker consummates an initial public offering of its securities. The principal balance may be prepaid at any time. Under no
        circumstances shall any individual, including but not limited to any officer, director, employee or shareholder of the Maker, be obligated personally for any obligations or liabilities of the Maker hereunder.

       

      2.            

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

       

      3.            

        

       Drawdown
          Requests. Maker and Payee agree that Maker may request up to Three Hundred Thousand Dollars ($300,000) for costs reasonably related to Maker’s initial public offering of its securities. The principal of this Note may be drawn down from
        time to time prior to the earlier of: (i) March 31, 2021 or (ii) the date on which Maker consummates an initial public offering of its securities, upon request from Maker to Payee (each, a “Drawdown Request”) in such amounts as Maker may determine in its discretion. Payee shall fund each Drawdown Request no later than five (5) business days after receipt of a Drawdown Request;
        provided, however, that the maximum amount of drawdowns collectively under this Note is Three Hundred Thousand Dollars ($300,000). Once an amount is drawn down under this Note, it shall not be available for future Drawdown Requests even if prepaid.
        No fees, payments or other amounts shall be due to Payee in connection with, or as a result of, any Drawdown Request by Maker.

       

      4.            

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

       

      5.            

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

    

    
       

      (a)           

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

    

    
       

    

    
      (b)          

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

       

      (c)           

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

      
        1

        
          

      

    

    
      6.            

      

       Remedies.

    

    
       

      (a)           

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

    

    
       

    

    
      (b)           

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

    

    
       

      7.            

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

       

      8.            

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

    

    
       

    

    
      9.            

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

       

      10.          

      Construction. THIS
        NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THEREOF.

       

      11.          

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

       

      12.          

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

    

    
      
        2

        
          

      

      13.          

        

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

       

      14.          

      Assignment.
        No assignment or transfer of this Note or any rights or obligations hereunder may be made by any party hereto (by operation of law or otherwise) without the prior written consent of the other party hereto and any attempted assignment without the
        required consent shall be void; provided, however, this Note is
        freely assignable by the Payee to any assignee.

       

    

    
      [Signature page follows]

    

    
      3

      
        

    

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

    

    
       

    

    	
             

          	
            CF FINANCE ACQUISITION CORP. IV

          
	
             

          	
             

          	
             

          
	
             

          	
            By:

          	
            /s/ Paul Pion

          
	
             

          	
             

          	
            Name: Paul Pion

          
	
             

          	
             

          	
            Title: Chief Financial Officer

          

    

    

    

    

    [Signature Page to the Promissory Note by CF Finance Acquisition Corp. IV in favor of CF Finance Holdings IV, LLC – pre-IPO Loan]

     

    

  

  4Exhibit 10.3

    

    

    INVESTMENT MANAGEMENT TRUST AGREEMENT

    

    

    This Investment Management Trust Agreement (this "Agreement") is made effective as of [ ], 2020, by and between CF Acquisition Corp. IV, a Delaware corporation (the "Company"), and Continental Stock Transfer & Trust Company, a New York corporation (the "Trustee").

    

    

    WHEREAS, the Company's registration statement on Form S-1, File No. 333-251184 (the Registration Statement") and prospectus (the "Prospectus") for the initial public offering of the Company's units (the "Units"), each of which consists 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 entitling the holder thereof to purchase one share of Common Stock (such initial public offering hereinafter
      referred to as the "Offering"), has been declared effective as of the date hereof by the U.S. Securities and Exchange
      Commission; and

    

    

    WHEREAS, the Company has entered into an Underwriting Agreement (the "Underwriting Agreement") with Cantor Fitzgerald & Co. as
      representative (the "Representative") of the several underwriters (the "Underwriters") named therein; and

    

    

    WHEREAS, as described in the Prospectus, $400,000,000 of the gross proceeds of the Offering and sale of the Private Placement Units (as
      defined in the Underwriting Agreement) (or $460,000,000, if the Underwriters' over-allotment option is exercised in full) will be delivered to the Trustee to be deposited and held in a segregated trust account located at all times in the United
      States (the "Trust Account") for the benefit of the Company and the holders of the Common Stock included in the Units issued in the Offering as hereinafter provided (the amount to be delivered to the Trustee (and any interest subsequently earned
      thereon) is 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");
      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.

    

    

    NOW, THEREFORE, 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 the Trust Account established by the
      Trustee in the United States at J.P. Morgan Chase Bank, N.A. and (or at another U.S chartered commercial bank with consolidated assets of $100 billion or more) at a brokerage institution selected by the Trustee that is reasonably satisfactory to the
      Company;

    

    

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

    

    

    (c) In a timely manner, upon the written instruction of the Company, invest and reinvest the Property solely in United States government
      securities within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended, having a maturity of 185 days or less, or in money market funds meeting the conditions of paragraphs (d)(1), (d)(2), (d)(3) and (d)(4) of Rule 2a-7
      promulgated under the Investment Company Act of 1940, as amended (or any successor rule), which invest only in direct U.S. government treasury obligations, as determined by the Company; it being understood that the Trust Account will earn no interest
      while account funds are uninvested awaiting the Company's instructions hereunder and the trustee may earn bank credits and other consideration.

    

    

    (d) Collect and receive, when due, all interest or other income arising from the Property, which shall become part of the "Property," as such term is used herein;

    

    

    (e) Promptly notify the Company and the Representative of all communications received by the Trustee with respect to any Property requiring
      action by the Company;

    

    

    
      
        

    

    (f) Supply any necessary information or documents as may be requested by the Company (or its authorized agents) in connection with the
      Company's preparation of the tax returns relating to assets held in the Trust Account;

    

    

    (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;

    

    

    (i) Commence liquidation of the Trust Account only after and promptly after (x) receipt of, and only in accordance with, the terms of a
      letter from the Company ("Termination Letter") in a form substantially similar to that attached hereto as either Exhibit A or Exhibit B, as applicable, signed on behalf of the Company by its Chief Executive Officer, Chief Financial Officer, President, Executive Vice President, Vice President, Secretary or
      Chairman of the board of directors of the Company (the "Board") or other authorized officer of the Company (and, in the case of
      Exhibit A, jointly signed by the Representative), and complete the liquidation of the Trust Account and distribute the Property in the Trust Account, including
      interest (net of taxes, less up to $100,000 of interest that may be released to the Company to pay dissolution expenses), only as directed in the Termination Letter and the other documents referred to therein, or (y) upon the date which is, the later
      of (1) 24 months after the closing of the Offering and (2) such later date as may be approved by the Company's stockholders in accordance with the Company's amended and restated certificate of incorporation if a Termination Letter has not been
      received by the Trustee prior to such date, in which case the Trust Account shall be liquidated in accordance with the procedures set forth in the Termination Letter attached as Exhibit B and the Property in the Trust Account, including interest (net of taxes, less up to $100,000 of interest that may be released to the Company to pay dissolution expenses) shall be distributed to the Public
      Stockholders of record as of such date;

    

    

    (j) 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 C, withdraw from the Trust Account and distribute to the Company the amount of interest earned on the Property requested by the Company to cover any
      tax obligation owed by the Company as a result of assets of the Company or interest or other income earned on the Property, which amount shall be delivered directly to the Company by electronic funds transfer or other method of prompt payment, and
      the Company shall forward such payment to the relevant taxing authority; provided, however, that to the extent there is not sufficient cash in the Trust Account to pay such tax obligation, the Trustee shall liquidate such assets held in the Trust Account as shall be designated by the Company in writing to
      make such distribution, so long as there is no reduction in the principal amount per share initially deposited in the Trust Account; provided, further, that if the tax to be paid is a franchise tax, the written request by the Company to make such distribution shall be accompanied by a copy of the
      franchise tax bill from the State of Delaware for the Company and a written statement from the principal financial officer of the Company setting forth the actual amount payable (it being acknowledged and agreed that any such amount in excess of
      interest income earned on the Property shall not be payable from the Trust Account). The written request of the Company referenced above shall constitute presumptive evidence that the Company is entitled to said funds, and the Trustee shall have no
      responsibility to look beyond said request;

    

    

     (k) 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 (from a segregated account) on behalf of the Company to the Public Stockholders of record as of such date the amount
      requested by the Company to be used to redeem shares of Common Stock from Public Stockholders properly submitted in connection with a stockholder vote to approve an amendment to the Company's amended and restated certificate of incorporation to
      modify the substance or timing of the Company's obligation to allow redemption in connection with its initial Business Combination (as defined below) or to redeem 100% of its public shares of Common Stock if the Company has not consummated an initial
      Business Combination within such time as is described in the Company's amended and restated certificate of incorporation. The written request of the Company referenced above shall constitute presumptive evidence that the Company is entitled to
      distribute said funds, and the Trustee shall have no responsibility to look beyond said request; and

    

    

    (l) Not make any withdrawals or distributions from the Trust Account other than pursuant to Sections 1(i), 1(j) or 1(k)
      above.

    

    

    
      
        

    

    2. 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, Chief Executive Officer,
      Chief Financial Officer, President, Executive Vice President, Vice President, Secretary or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(i), 1(j) and 1(k)
      hereof, 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 and with reasonable care, 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 Section 4 hereof, hold the
      Trustee harmless and indemnify the Trustee from and against any and all out-of-pocket expenses, including reasonable outside counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it as permitted
      hereunder and in connection with any 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 interest earned on the Property, except for any expenses and losses arising out of, in connection with or resulting from the Trustee's gross negligence, fraud 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 Section
          2(b), 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 or
      delayed. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld or delayed. The Company may participate in such action with its own counsel;

    

    

    (c) Pay the Trustee the fees set forth on Schedule A
      hereto, including an initial acceptance fee, annual administration fee, and transaction processing fee which fees shall be subject to modification as agreed by the parties from time to time. It is expressly understood that the Property shall not be
      used to pay such fees unless and until a Business Combination is consummated. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Trustee shall refund to the
      Company the annual administration fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Account or after the removal or withdrawal of the Trustee in accordance with this Agreement. The Company shall not be
      responsible for any other fees or charges of the Trustee except as set forth in this Section 2(c), Schedule A and as may be provided in Section 2(b) hereof;

    

    

    (d) In connection with any vote of the Company's stockholders regarding a merger, capital stock exchange, asset acquisition, stock
      purchase, reorganization or similar business combination involving the Company and one or more businesses (the "Business Combination"), provide to the Trustee an affidavit or certificate of the inspector of elections for the stockholder meeting
      verifying the vote of such stockholders regarding such Business Combination;

    

    

     (e) Provide the Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with
      respect to any proposed withdrawal from the Trust Account promptly after it issues the same; and

    

    

    (f) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee
      to make any distributions that are not permitted under this Agreement.

    

    

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

    

    

    (a) 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;

    

    

    
      
        

    

    (b) Take any action with respect to the Property, other than as directed in Section 1 hereof, and the Trustee shall have no liability to any third party except for liability arising out of, in connection with or resulting from the Trustee's gross negligence, fraud, or willful misconduct;

    

    

    (c) 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;

    

    

    (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 Company 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 Trustee's best judgment in accordance with this Agreement, except for the Trustee's gross negligence, fraud 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, which counsel may be the Company's counsel), 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 the Trustee believes, in good faith and with reasonable care, 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 accuracy of the information contained in the Registration Statement;

    

    

    (h) Provide any assurance that any Business Combination entered into by the Company or any other action taken by the Company is as
      contemplated by the Registration Statement;

    

    

     (i) File information returns with respect to the Trust Account with any local, state or federal taxing authority or provide periodic
      written statements to the Company documenting the taxes payable by the Company, if any, relating to any interest income earned on the Property;

    

    

    (j) Prepare, execute and file tax reports, income or other tax returns and pay any taxes with respect to any income generated by, and
      activities relating to, the Trust Account, regardless of whether such tax is payable by the Trust Account or the Company, including, but not limited to, franchise and income tax obligations, except pursuant to Section 1(j) hereof; or

    

    

    (k) Verify calculations, qualify or otherwise approve the Company's written requests for distributions pursuant to Sections 1(i), 1(j) or 1(k) hereof.

    

    

    4. 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 for any reason whatsoever. In the event the Trustee has any Claim against the Company under this Agreement, including, without
      limitation, under Section 2(b) or Section 2(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 and the Trustee hereby agrees not to seek recourse, reimbursement, payment or satisfaction of
      any Claim against the Trust Account.

    

    

    
      
        

    

    5. 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, pending which the Trustee shall continue to act in accordance with this Agreement. At such time that the Company notifies the Trustee that a successor trustee has been appointed 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 (90) 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 located
      in the Borough of Manhattan 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 with respect to any liability arising after such time; or

    

    

    (b) At such time that the Trustee has completed the liquidation of the Trust Account and its obligations in accordance with the provisions
      of Section 1(i) hereof (which section may not be amended under any circumstances) and distributed the Property in accordance with the provisions of the
      Termination Letter, this Agreement shall terminate except with respect to Section 2(b).

    

    

    (c) If the Offering is not consummated within ten (10) business days of the date of this Agreement, in which case any funds received by the
      Trustee from the Company or CFAC Holdings IV, LLC, the Company's sponsor, as applicable, shall be returned promptly following the receipt by the Trustee of written instructions from the Company.

    

    

    6. 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 as promptly as practicable if it
      has reason to believe unauthorized persons may have obtained access to such confidential information, or of any change in its authorized personnel. In executing funds transfers, the Trustee shall 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. Except for any liability arising out of, in connection with or resulting from the Trustee's
      gross negligence, fraud or willful misconduct, the Trustee shall not be liable for any loss, liability or expense resulting from any error in the information or transmission of the funds.

    

    

     (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. The parties hereto consent to the jurisdiction and venue of any state or federal court located in the City of New York, State
      of New York, for purposes of resolving any disputes hereunder. AS TO ANY CLAIM, CROSS-CLAIM OR COUNTERCLAIM IN ANY WAY RELATING TO THIS AGREEMENT, EACH PARTY WAIVES THE RIGHT TO TRIAL BY JURY.

    

    

    (c) This Agreement contains the entire agreement and understanding of the parties hereto with respect to the subject matter hereof. This
      Agreement or any provision hereof may only be changed, amended or modified (other than to correct a typographical error) by a writing signed by each of the parties hereto; provided, that an amendment to Section 1(i) shall also require the consent of
      the Representative.

    

    

    
      
        

    

    (d) This Agreement or any provision hereof may only be changed, amended or modified pursuant to Section 6(c) hereof with the Consent of the Stockholders. For purposes of this Section 6(d), the "Consent of the Stockholders"
      means receipt by the Trustee of a certificate from the inspector of elections of the stockholder meeting certifying that the Company's stockholders of record as of a record date established in accordance with Section 213(a) of the Delaware General
      Corporation Law, as amended ("DGCL") (or any successor rule), who hold sixty-five percent (65%) or more of all then outstanding
      shares of the Common Stock and Class B common stock, par value $0.0001 per share, of the Company voting together as a single class, have voted in favor of such change, amendment or modification. No such amendment will affect any Public Stockholder
      who has otherwise indicated his election to redeem his shares of Common Stock in connection with a stockholder vote sought to amend this Agreement to modify the substance or timing of the Company's obligation to allow redemption in connection with
      its initial business combination or to redeem 100% of the Common Stock if the Company does not complete its initial Business Combination within the time frame specified in the Company's amended and restated certificate of incorporation. Except for
      any liability arising out of, in connection with or resulting from the Trustee's gross negligence, fraud or willful misconduct, the Trustee may rely conclusively on the certification from the inspector or elections referenced above and shall be
      relieved of all liability to any party for executing the proposed amendment in reliance thereon.

    

    

    (e) 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.

    

    

    (f) 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, by facsimile or by electronic mail:

    

    

    if to the Trustee, to:

    

    

    Continental Stock Transfer & Trust Company

    1 State Street, 30th Floor

    New York, NY 10004

    Attn: Francis Wolf and Celeste Gonzalez

    Email: fwolf@continentalstock.com

    Email: cgonzalez@continentalstock.com

    

    

    if to the Company, to:

    CF Acquisition Corp. IV

    110 East 59th Street

    New York, NY 10022

    Attn: Howard W. Lutnick

    

    

    in each case, with copies to:

    Ellenoff Grossman & Schole LLP

    1345 Avenue of the Americas

    New York, NY 10105

    Attn: Stuart Neuhauser, Esq.

    Email: sneuhauser@egsllp.com

    and

    Cantor Fitzgerald & Co.

    110 East 59th Street

    New York, NY 10022

    Attn: General Counsel

    Fax No.: (212) 829-4708

    and

    Graubard Miller

    The Chrysler Building

    405 Lexington Avenue

    New York, New York 10174

    Attn: Jeffrey Gallant, Esq.

    Email: JGallant@graubard.com

    

    

    
      
        

    

    (g) Each of the Company and the Trustee 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.

    

    

    (h) This Agreement is the joint product of the Trustee 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.

    

    

    (i) This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such
      counterparts shall together constitute one and the same instrument. Delivery of a signed counterpart of this Agreement by facsimile or electronic transmission shall constitute valid and sufficient delivery thereof.

    

    

    (j) Each of the Company and the Trustee hereby acknowledges and agrees that Cantor Fitzgerald & Co. on behalf of the Underwriters is a
      third party beneficiary of this Agreement.

    

    

    (k) Except as specified herein, no party to this Agreement may assign its rights or delegate its obligations hereunder to any other person
      or entity.

    

    

    [Signature Page Follows]

    

    

    
      
        

    

    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:

          	 
	 	 	
            Name:

          	
            Francis E. Wolf, Jr.

          
	 	 	
            Title:

          	
            Vice President

          
	 	 	 
	 	
            CF ACQUISITION CORP. IV

          
	 	 	 
	 	
            By:

          	 
	 	 	
            Name:

          	
            Howard W. Lutnick

          
	 	 	
            Title:

          	
            Chairman and Chief Executive Officer

          

    

    

    

    

    [Signature Page to Investment Management Trust Agreement -
        CF Acquisition Corp. IV]

    

    

    
      
        

    

    SCHEDULE A

    

    

    	
            Fee Item

          	 	
            Time and method of payment

          	 	
            Amount

          	 
	
            Initial set-up fee.

          	 	
            Initial closing of Offering by wire transfer.

          	 	
            $

          	
            3,500

          	 
	
            Trustee administration fee

          	 	
            Payable annually. First year fee payable, at initial closing of Offering by wire transfer, thereafter by wire transfer or check.

          	 	
            $

          	
            10,000

          	 
	
            Transaction processing fee for disbursements to Company under Sections
                1(i) and (j)

          	 	
            Billed to the Company following disbursement made to Company under Section
                1

          	 	
            $

          	
            250

          	 
	
            Paying Agent services as required pursuant to Section 1(i) or (k)

          	 	
            Billed to Company upon delivery of service pursuant to Section 1(i)
              or (k)

          	 	 	
            Prevailing rates

          	 

    

    

    

    

    
      
        

    

    EXHIBIT A

    [Letterhead of Company]

    [Insert date]

    

    

    Continental Stock Transfer & Trust Company

    1 State Street, 30th Floor

    New York, New York 10004

    Attn: Francis Wolf and Celeste Gonzalez

    	 	
            Re:

          	
            Trust Account - Termination Letter

          

    Dear Mr. Wolf and Ms. Gonzalez:

    

    

    Pursuant to Section 1(i) of the Investment Management Trust Agreement between CF Acquisition Corp. IV (the "Company") and Continental Stock Transfer & Trust Company (the "Trustee"), dated as of [ ], 2020 (the "Trust Agreement"), this is to advise you that the Company has entered into an agreement with (the "Target Business") to consummate a business combination with Target Business (the "Business Combination") on or about [insert date]. The Company shall notify you at least seventy-two (72) hours in advance of the actual date
      (or such shorter time as you may agree) of the consummation of the Business Combination (the "Consummation Date"). Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

    

    

    In accordance with the terms of the Trust Agreement, we hereby authorize you to commence to liquidate all of the assets of the Trust
      Account and to transfer the proceeds to a segregated account held by you on behalf of the Beneficiaries to the effect that, on the Consummation Date, all of the 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 operating account at J.P. Morgan Chase Bank, N.A. 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, or will be consummated substantially concurrently with your transfer of funds to the accounts as directed by the Company (the "Notification") and (ii) the Company shall deliver to you (a) a certificate of the Chief Executive Officer, which verifies that the Business Combination has been approved by a vote of the Company's stockholders, if a vote is held and
      (b) a joint written instruction signed by the Company and the Representative with respect to the transfer of the funds held in the Trust Account, including payment of amounts owed to public stockholders who have properly exercised their redemption
      rights (the "Instruction Letter"). You are hereby directed and authorized to transfer the funds held in the Trust Account immediately upon your receipt of the Notification 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 in writing of the same and the Company shall direct you as to whether such
      funds should remain in the Trust Account and be distributed after the Consummation Date to the Company. Upon the distribution of all the funds, net of any payments necessary for reasonable unreimbursed expenses related to liquidating the Trust
      Account, your obligations under the Trust Agreement shall be terminated.

    

    

    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 Section 1(c) of the
      Trust Agreement on the business day immediately following the Consummation Date as set forth in such notice as soon thereafter as possible.

    

    

    [signature page follows]

    

    

    
      
        

    

    

    

    	 	
            Very truly yours,

          
	 	 
	 	
            CF ACQUISITION CORP. IV

          
	 	 	 
	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          

     

    

    Agreed to and acknowledged by:

    CANTOR FITZGERALD & CO.

     

    

    	
            By:

          	 	 
	
            Name:

          	 	 
	
            Title:

          	 	 

    

    

    
      
        

    

    

    

    EXHIBIT B

     

    

    [Letterhead of Company]

    [Insert date]

    

    

    Continental Stock Transfer & Trust Company

    1 State Street, 30th Floor

    New York, New York 10004

    Attn: Francis Wolf and Celeste Gonzalez

    	 	
            Re:

          	
            Trust Account - Termination Letter

          

    Dear Mr. Wolf and Ms. Gonzalez:

    

    

    Pursuant to Section 1(i) of the Investment Management Trust Agreement between CF Acquisition Corp. IV (the "Company") and Continental Stock Transfer & Trust Company (the "Paying Agent"), dated as of [ ], 2020 (the "Trust Agreement"), this is to advise you that the Company has been unable to effect a business combination with a Target Business (the "Business Combination")
      within the time frame specified in the Company's Amended and Restated Certificate of Incorporation, as described in the Company's Prospectus relating to the Offering. Capitalized terms used but not defined herein 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 of the assets in the Trust Account and to
      transfer the total proceeds into a segregated account held by you on behalf of the Beneficiaries to await distribution to the Public Stockholders. The Company has selected (1) as the effective date for the purpose of determining when the
      Public Stockholders will be entitled to receive their share of the liquidation proceeds. You agree to be the Paying Agent of record and, in your separate capacity as Paying Agent, agree to distribute said funds directly to the Company's 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, your obligations under the Trust Agreement shall be terminated, except
      to the extent otherwise provided in Section 1(j) of the Trust Agreement.

    

    

    	
            (1)

          	
            24 months from the closing of the Offering.

          	 	

          
	 	
            Very truly yours,

          
	 	 
	 	
            CF Acquisition Corp. IV

          
	 	 	 
	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          
	
            cc:

          	
            Cantor Fitzgerald & Co.

          	 	 

    

    

    

    

    
      
        

    

    EXHIBIT C

    

    

    [Letterhead of Company]

    [Insert date]

    

    

    Continental Stock Transfer & Trust Company

    1 State Street, 30th Floor

    New York, New York 10004

    Attn: Francis Wolf and Celeste Gonzalez

    	 	
            Re:

          	
            Trust Account -Withdrawal Instruction

          
	 	 	 

    Dear Mr. Wolf and Ms. Gonzalez:

    

    

    Pursuant to Section 1(j) of the Investment
      Management Trust Agreement between CF Acquisition Corp. IV (the "Company") and Continental Stock Transfer & Trust Company
      (the "Trustee"), dated as of [ ], 2020 (the "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. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

    

    

    The Company needs such funds to pay for the tax obligations as set forth on the attached tax return or tax statement. 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]

     

    

    	 	
            Very truly yours,

          
	 	 
	 	
            CF Acquisition Corp. IV

          
	 	 	 
	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          
	
            cc:

          	
            Cantor Fitzgerald & Co.

          	 	 

    

    

    

    

    
      
        

    

    EXHIBIT D

    

    

    [Letterhead of Company]

    [Insert date]

    

    

    Continental Stock Transfer & Trust Company

    1 State Street, 30th Floor

    New York, New York 10004

    Attn: Francis Wolf and Celeste Gonzalez

    	 	
            Re:

          	
            Trust Account - Stockholder Redemption Withdrawal Instruction

          
	 	 	 

    Dear Mr. Wolf and Ms. Gonzalez:

    

    

    Pursuant to Section 1(k) of the Investment
      Management Trust Agreement between CF Acquisition Corp. IV (the "Company") and Continental Stock Transfer & Trust Company
      (the "Trustee"), dated as of [ ], 2020 (the "Trust Agreement"), the Company hereby requests that you deliver to the
      redeeming Public Stockholders of the Company $ of the principal and interest income earned on the Property as of the date hereof to a segregated account held by you on behalf of the Beneficiaries. Capitalized terms used but not defined herein shall
      have the meanings set forth in the Trust Agreement.

    

    

    The Company needs such funds to pay its Public Stockholders who have properly elected to have their shares of Common Stock redeemed by the
      Company in connection with a stockholder vote to approve an amendment to the Company's amended and restated certificate of incorporation to modify the substance or timing of the Company's obligation to allow redemption in connection with the
      Company's initial business combination or to redeem 100% of public shares of Common Stock if the Company has not consummated an initial Business Combination within such time as is described in the Company's amended and restated certificate of
      incorporation. As such, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to a segregated account held by you on behalf of the Beneficiaries.

    

    

    	 	
            Very truly yours,

          
	 	 
	 	
            CF Acquisition Corp. IV

          
	 	 	 
	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          
	
            Cc:

          	
            Cantor Fitzgerald & Co.

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