Document:

Exhibit 10.2

 

[_______], 2017

 

I-AM Capital Acquisition Company 

1345 Avenue of the Americas, 2nd Floor

New York, NY 10105

 

		Re:	Initial Public Offering

 

Gentlemen:

 

This letter (this “Letter Agreement”)
is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
proposed to be entered into by and between I-AM Capital Acquisition Company, a Delaware corporation (the “Company”),
and Maxim Group LLC, as representative of the several underwriters named therein (the “Underwriters”),
relating to an underwritten initial public offering (the “Public Offering”), of up to 5,750,000 of the
Company’s units (the “Units”), each Unit comprised of one share of the Company’s common
stock, par value $0.0001 per share (the “Common Stock”), one warrant (each, a “Warrant”)
and one right to receive one-tenth (1/10) of one share of Common Stock (the “Rights”). Each Warrant
entitles the holder thereof to purchase one share of the Common Stock at a price of $11.50 per share, subject to adjustment. The
Units shall be sold in the Public Offering pursuant to a registration statement on Form S-1 and prospectus (the “Prospectus”)
filed by the Company with the Securities and Exchange Commission (the “Commission”) and the Company
shall apply to have the Units listed on the Nasdaq Capital Market. Certain capitalized terms used herein are defined in paragraph
11 hereof.

 

In order to induce the Company and the
Underwriters to enter into the Underwriting Agreement and to proceed with the Public Offering and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, I-AM Capital Partners LLC (the “Sponsor”)
and the undersigned individuals, each of whom is a director, or officer of the Company (each, an “Insider”
and collectively, the “Insiders”), hereby agrees with the Company as follows:

 

1. The Sponsor and each Insider agrees
that if the Company seeks stockholder approval of a proposed Business Combination, then in connection with such proposed Business
Combination, it, he or she shall (i) vote any shares of Common Stock owned by it, him or her in favor of such proposed Business
Combination and (ii) not redeem any shares of Common Stock owned by it, him or her in connection with such stockholder approval.
The Sponsor and each Insider agrees not to (i) tender any Shares of Common Stock in connection with a tender offer conducted in
conjunction with a Business Combination and (ii) request that more than $600,000 of interest be withdrawn from the Trust Account
for working capital purposes.

 

2. The Sponsor and each Insider agrees
that in the event that the Company fails to consummate a Business Combination (as defined in the Underwriting Agreement) within
12 months from the date of the closing of the Public Offering (or up to 21 months from the closing of the Public Offering if the
Company extends the period of time to consummate a Business Combination in accordance with the Company’s amended and restated
certificate of incorporation (the “Charter”)), or such later period approved by the Company’s stockholders
in accordance with the Charter, the Sponsor and Insiders 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, including interest (which interest shall be net of taxes payable and up to a maximum
of $600,000 of working capital released to the Company, including repayment from interest of loans made to the Company by the Sponsor
or application of withdrawn or accrued interest to the Sponsor’s obligation to loan the Company money in connection with
an extension as described in the Charter, and less up to $50,000 of interest to pay liquidation expenses), divided by the number
of then outstanding public shares, which redemption will completely extinguish 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 each case to the Company’s obligations under Delaware
law to provide for claims of creditors and other requirements of applicable law. The Sponsor and each Insider agrees not to propose
any amendment to the Charter that would affect the substance or timing of the Company’s obligation to redeem 100% of the
Offering Shares if the Company does not complete a Business Combination within 12 months from the closing of the Public Offering
(or up to 21 months from the closing of the Public Offering if the Company extends the period of time to consummate a Business
Combination in accordance with the Charter), 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 (which interest shall be net of taxes payable and up to a maximum
of $600,000 of working capital released to the Company), divided by the number of then outstanding Offering Shares.

 

     

     

    

 

The Sponsor and each Insider acknowledges that
it, he or she 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 held by it. The Sponsor and each
Insider further waives, with respect to any shares of the Common Stock held by it, him or her, if any, any redemption rights it,
he or she may have in connection with the consummation of a Business Combination, including, without limitation, any such rights
available in the context of a stockholder vote to approve such Business Combination or in the context of a tender offer made by
the Company to purchase shares of the Common Stock (although the Sponsor and Insiders shall be entitled to redemption and liquidation
rights with respect to any shares of the Common Stock (other than the Founder Shares) they hold if the Company fails to consummate
a Business Combination within 12 months from the date of the closing of the Public Offering (or up to 21 months from the closing
of the Public Offering if the Company extends the period of time to consummate a Business Combination in accordance with the Charter)).

 

3. Subject to the provisions set forth in paragraphs 7(a) and (b) below, during the period commencing
on the effective date of the Underwriting Agreement and ending 180 days after such date, the Sponsor and each Insider shall not
(i) sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any option to purchase or otherwise dispose
of or agree to dispose of, directly or indirectly, file (or participate in the filing of) a registration statement with the Commission
or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16
of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder, with
respect to any Units, shares of Common Stock, Warrants, Rights or any securities convertible into, or exercisable, or exchangeable
for, shares of Common Stock owned by it, if any, (ii) enter into any swap or other arrangement that transfers to another,
in whole or in part, any of the economic consequences of ownership of any Units, shares of Common Stock, Warrants, Rights or any
securities convertible into, or exercisable, or exchangeable for, shares of Common Stock owned by it, if any, whether any such
transaction is to be settled by delivery of such securities, in cash or otherwise, or (iii) publicly announce any intention
to effect any transaction specified in clause (i) or (ii). The foregoing sentence shall not apply to the registration of the
offer and sale of Units contemplated by the Underwriting Agreement and the sale of the Units to the Underwriters. The Sponsor and
each Insider acknowledges and agrees that, prior to the effective date of any release or waiver, of the restrictions set forth
in this paragraph 3 or paragraph 7 below, the Company shall announce the impending release or waiver by press release through a
major news service at least two business days before the effective date of the release or waiver. Any release or waiver granted
shall only be effective two business days after the publication date of such press release. The provisions of this paragraph will
not apply if (i) the release or waiver is effected solely to permit a transfer of securities that is not for consideration
and (ii) the transferee has agreed in writing to be bound by the same terms described in this Letter Agreement to the extent
and for the duration that such terms remain in effect at the time of the transfer.

 

4. In the event of the liquidation of the Trust Account, the Sponsor (the “Indemnitor”)
agrees to indemnify and hold harmless the Company against any and all loss, liability, claim, damage and expense whatsoever (including,
but not limited to, any and all legal or other expenses reasonably incurred in investigating, preparing or defending against any
litigation, whether pending or threatened, or any claim whatsoever) to which the Company may become subject as a result of any
claim by (i) any third party for services rendered or products sold to the Company or (ii) a prospective target business
with which the Company has entered into an acquisition agreement (a “Target”); provided, however,
that such indemnification of the Company by the Indemnitor shall apply only to the extent necessary to ensure that such claims
by a third party for services rendered or products sold to the Company or a Target do not reduce the amount of funds in the Trust
Account to below (i) $10.15 per Offering Share (or up to $10.3285 per Offering Share if the Company extends the period of
time to consummate a Business Combination in accordance with the Charter) or (ii) such lesser amount per share of the Offering
Shares held in the Trust Account due to reductions in the value of the trust assets as of the date of the liquidation of the Trust
Account, in each case, net of the amount of interest earned on the property in the Trust Account which may be withdrawn to pay
taxes and up to a maximum of $600,000 for working capital purposes, except as to any claims by a third party who executed a waiver
of any and all rights to seek access to the Trust Account and except as to any claims under the Company’s indemnity of the
Underwriters against certain liabilities, including liabilities under the Securities Act of 1933, as amended. In the event that
any such executed waiver is deemed to be unenforceable against such third party, the Indemnitor shall not be responsible to the
extent of any liability for such third party claim. The Indemnitor shall have the right to defend against any such claim with counsel
of its choice reasonably satisfactory to the Company if, within 15 days following written receipt of notice of the claim to the
Indemnitor, the Indemnitor notifies the Company in writing that it shall undertake such defense.

 

     

     

    

 

5. To the extent that the Underwriters do not
exercise their over-allotment option to purchase an additional 750,000 Units within 45 days from the date of the Prospectus (and
as further described in the Prospectus), the Sponsor and Insiders agree that they shall forfeit, at no cost, a number of Founder
Shares in the aggregate equal to 187,500 multiplied by a fraction, (i) the numerator of which is 750,000 minus the number
of Units purchased by the Underwriters upon the exercise of their over-allotment option, and (ii) the denominator of which
is 750,000. The forfeiture will be adjusted to the extent that the over-allotment option is not exercised in full by the Underwriters
so that the stockholders prior to the Public Offering will own an aggregate of 20% of the Company’s issued and outstanding
shares of Common Stock after the Public Offering (not including the private placement shares and the shares issued to the Underwriters).
The Sponsor and Insiders further agree that to the extent that the size of the Public Offering is increased or decreased, the Company
will purchase or sell shares of Common Stock or effect a stock dividend or share contribution back to capital, as applicable, immediately
prior to the consummation of the Public Offering in such amount as to maintain the ownership of the stockholders prior to the Public
Offering at 20% of its issued and outstanding shares of Common Stock upon the consummation of the Public Offering (not including
the private placement shares and the shares issued to the Underwriters). In connection with such increase or decrease in the size
of the Public Offering, then (A) the references to 750,000 in the numerator and denominator of the formula in the first sentence
of this paragraph shall be changed to a number equal to 15% of the number of shares included in the Units issued in the Public
Offering and (B) the reference to 187,500 in the formula set forth in the first sentence of this paragraph shall be adjusted
to such number of shares of the Common Stock that the Sponsor and Insiders would have to return to the Company in order to hold
an aggregate of 20% of the Company’s issued and outstanding shares after the Public Offering (not including the private placement
shares and the shares issued to the Underwriters).

 

6. (a) The Sponsor and each Insider agrees
not to participate in the formation of, or become an officer or director of, any other blank check company until the Company has
entered into a definitive agreement with respect to a Business Combination or the Company has failed to complete a Business Combination
within 12 months after the closing of the Public Offering (or up to 21 months from the closing of the Public Offering if the Company
extends the period of time to consummate a Business Combination in accordance with the Charter).

 

(b) The Sponsor and each Insider agrees and acknowledges
that: (i) each of the Underwriters and the Company would be irreparably injured in the event of a breach by the Sponsor or
Insider of his, her or its obligations (as applicable) under paragraphs 1, 2, 3, 4, 5, 6(a), 7(a), 7(b), and 9 of this Letter Agreement,
(ii) monetary damages may not be an adequate remedy for such breach, and (iii) the non-breaching party shall be entitled
to injunctive relief, in addition to any other remedy that such party may have in law or in equity, in the event of such breach.

 

7. (a) The Sponsor and each Insider agrees
that it, he or she shall not Transfer (as defined below) any Founder Shares until the earlier of (i) one year after the completion
of a Business Combination or earlier if, subsequent to a Business Combination, (x) the last sale price of the Common Stock equals
or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for
any 20 trading days within any 30-trading day period commencing at least 150 days after a Business Combination or (y) the
date following the completion of a Business Combination on which the Company completes a liquidation, merger, stock exchange or
other similar transaction that results in all of the Company’s stockholders having the right to exchange their shares of
Common Stock for cash, securities or other property (the “Founder Shares Lock-up Period”).

 

(b) The Sponsor and each Insider agrees that
it, he or she shall not effectuate any Transfer of Private Placement Units and the securities contained therein, until the completion
of a Business Combination (the “Private Placement Units Lock-up Period”, together with the Founder Shares
Lock-up Period, the “Lock-up Periods”).

 

     

     

    

 

(c) Notwithstanding the provisions set forth
in paragraphs 7(a) and (b), Transfers of the Founder Shares, Private Placement Units and securities contained therein are permitted
to (a)  the Company’s officers or directors, any affiliates or family members of any of the Company’s officers
or directors, any members of the Sponsor or any affiliates of the Sponsor or any of its members; (b) in the case of an individual,
by a gift to a member of one of the members of the individual’s immediate family or to a trust, the beneficiary of which
is a member of one of the individual’s immediate family, an affiliate of such person or to a charitable organization; (c) in
the case of an individual, by virtue of laws of descent and distribution upon death of the individual; (d) in the case of
an individual, pursuant to a qualified domestic relations order; (e) by private sales or transfers made in connection with
the consummation of a Business Combination at prices no greater than the price at which the securities were originally purchased;
or (f) in the event of the Company’s liquidation prior to the completion of a Business Combination; provided, however,
that in the case of clauses (a) through (e), these permitted transferees must enter into a written agreement agreeing to be
bound by these transfer restrictions and the other terms described in this Letter Agreement to the extent and for the duration
that such terms remain in effect at the time of the transfer.

 

8. The Sponsor and each Insider represents
and warrants that it, he or she 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. Each Insider’s biographical
information furnished to the Company is true and accurate in all respects and does not omit any material information with respect
to the undersigned’s background. Each Insider’s questionnaire furnished to the Company and the information about the
Insider in the Prospectus is true and accurate in all respects. Each Insider represents and warrants that: the undersigned 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; the undersigned 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 the undersigned is not currently a defendant
in any such criminal proceeding.

 

9. Except as disclosed in the Prospectus, neither
the Sponsor or any Insider nor any affiliate of the Sponsor or any Insider, nor any director or officer of the Company, shall receive
from the Company 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 a Business Combination (regardless
of the type of transaction that it is), other than the following, none of which will be made from the proceeds of the Public Offering
held in the Trust Account prior to the completion of a Business Combination: (a) repayment of loans of up to an aggregate of $300,000
made to the Company by the Sponsors; (b) payment to the Sponsor for office space, utilities and secretarial support for a total
of $10,000 per month; (c) reimbursement for any reasonable out-of-pocket expenses related to identifying, investigating and consummating
a Business Combination, and (d) repayment of loans, if any, and on such terms as to be determined by the Company from time to time,
made by the Sponsor or certain of the Company’s officers and directors to finance transaction costs in connection with an
intended Business Combination, provided, that, if the Company does not consummate a Business Combination, a portion of the working
capital held outside the Trust Account may be used by the Company to repay such loaned amounts so long as no other proceeds from
the Trust Account are used for such repayment. In the event that the Company does not consummate a Business Combination, the Sponsor
of the Company hereby waives its right to be repaid for any loan the Sponsor has made to the Company, including loans to extend
the period of time during which the Company must consummate a Business Combination (other than from funds available to the Company
not held in the Trust Account, including interest permitted to be withdrawn). Up to $1,500,000 of such loans (including any loans
made in connection with the extension of the time available for the Company to consummate a Business Combination) may be convertible
into units of the post Business Combination entity at a price of $10.00 per unit at the option of the lender. Such units would
be identical to the Private Placement Units.

 

10. The Sponsor and each Insider has full right
and power, without violating any agreement to which it 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 a director
on the board of directors of the Company and hereby consents to being named in the prospectus as a director or director nominee
of the Company.

 

     

     

    

 

11. As used herein, (i) “Business
Combination” shall mean a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar
initial business combination, involving the Company and one or more businesses; (ii) “Founder Shares”
shall mean the 1,437,500 shares of the Common Stock of the Company initially acquired by the Sponsor for an aggregate purchase
price of $25,000, or approximately $0.0001 per share, prior to the consummation of the Public Offering; (iii) “Private
Placement Units” shall mean up to 254,500 units (or 280,750 units if the underwriters’ over-allotment option
is exercised in full) of the Company that are to be acquired by the Sponsor for an aggregate purchase price of $2,545,000 in the
aggregate (or $2,807,500 in the aggregate if the underwriters’ over-allotment option is exercised in full), or $10.00 per
Unit, in a private placement that shall occur simultaneously with the consummation of the Public Offering; (iv) “Public
Stockholders” shall mean the holders of securities issued in the Public Offering; (v) “Trust Account”
shall mean the trust fund into which a portion of the net proceeds of the Public Offering shall be deposited; and (vi) “Transfer”
shall mean the (a) sale of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase
or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position
or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Securities
Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder with respect to, any security,
(b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences
of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise,
or (c) public announcement of any intention to effect any transaction specified in clause (a) or (b).

 

12. This Letter Agreement constitutes the entire
agreement and understanding of the parties hereto in respect of the subject matter hereof and supersedes all prior understandings,
agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject
matter hereof or the transactions contemplated hereby. This Letter Agreement may not be changed, amended, modified or waived (other
than to correct a typographical error) as to any particular provision, except by a written instrument executed by all parties hereto.

 

13. 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 party.
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 Sponsors and Insiders and their
respective successors and permitted assigns. Any transfer made in contravention of this Letter Agreement shall be null and void.

 

14. 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 submits to such jurisdiction and venue, which
jurisdiction and venue shall be exclusive and (ii) waives any objection to such exclusive jurisdiction and venue or that such
courts represent an inconvenient forum.

 

15. 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.

 

16. This Letter Agreement shall terminate on
the earlier of (i) the expiration of the Lock-up Periods or (ii) the liquidation of the Company; provided, however,
that this Letter Agreement shall earlier terminate in the event that the Public Offering is not consummated and closed by December
31, 2017, provided further that paragraph 4 of this Letter Agreement shall survive such liquidation.

 

[Signature page follows]

 

     

     

    

 

Sincerely,

 

I-AM CAPITAL PARTNERS LLC

 

	By:	 	 
	 	
        Name:

        Title:   
	 
	 	 	 
	By:	 	 
	 	F. Jacob Cherian	 
	 	 	 
	By:	 	 
	 	Suhel Kanuga	 
	 	 	 
	By:	 	 
	 	Donald Caldwell	 
	 	 	 
	By:	 	 
	 	Roman Franklin	 
	 	 	 
	By:	 	 
	 	Max Hooper	 
	 	 	 
	By:	 	 
	 	Frank Leavy	 
	 	 	 
	Acknowledged and Agreed:	 

 

	I-AM CAPITAL ACQUISITION COMPANY  	 
	 	 	 
	By:	 	 
	 	Name:    	 
	 	Title:Exhibit 10.3

 

INVESTMENT MANAGEMENT TRUST AGREEMENT

 

This
Investment Management Trust Agreement (this “Agreement”) is made effective as of [________], 2017 by
and between I-AM Capital Acquisition Company, 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, No. 333-219251 (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 common stock, par value $0.0001 per share (the “Common Stock”),
one warrant, each warrant entitling the holder thereof to purchase one share of Common Stock, and one right to receive one-tenth
(1/10) of 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 with Maxim Group LLC as representative of the several underwriters (the
“Underwriters”) named therein (the “Underwriting Agreement”); and

 

WHEREAS,
if a Business Combination is not consummated within the initial 12 month period following the closing of the Offering, the Company’s
sponsor may extend such period by three three-month periods, up to a maximum of 21 months in the aggregate, by depositing $291,667
(or $335,398 if the Underwriters’ over-allotment option is exercised in full) into the Trust Account no later than the 12
month anniversary of the Offering, the 15 month anniversary of the Offering, or the 18 month anniversary of the Offering (each,
an “Applicable Deadline”) for each three month extension (each, an “Extension”),
in exchange for which they will receive promissory notes (unless accrued or withdrawn interest is applied pursuant to the terms
hereof); and

 

WHEREAS, as described in the Registration Statement, $50,750,000 of the gross proceeds of the Offering
and sale of the Private Placement Units (as defined in the Underwriting Agreement) (or $58,362,500 if the Underwriters’ over-allotment
option is exercised in full, plus any amount eventually deposited on account of any Extension) will be delivered to the Trustee
to be deposited and held in a segregated trust account located 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), including the proceeds from
any loans in connection with an Extension, if any, 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,
pursuant to the Underwriting Agreement, a portion of the Property equal to $1,750,000, or $2,012,500 if the Underwriters’
over-allotment option is exercised in full, is attributable to deferred underwriting discounts and commissions that may be payable
by the Company to the Underwriters upon the consummation of the Business Combination (as defined below) (the “Deferred
Discount”); 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 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 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 180 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; the Trustee may not invest in any other securities or assets, it being understood that the Trust
Account will earn no interest while account funds are uninvested awaiting the Company’s instructions hereunder;

 

(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 Maxim Group LLC 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 signed on behalf of the Company by its Chief Executive Officer,
Chief Financial Officer or Chairman of the board of directors (the “Board”) or other authorized officer
of the Company, and complete the liquidation of the Trust Account and distribute the Property in the Trust Account, including interest
(which interest shall be net of any taxes payable and up to a maximum of $600,000 of working capital released to us and less up
to $50,000 of interest that may be released to the Company to pay liquidation expenses), only as directed in the Termination Letter
and the other documents referred to therein, or (y) upon the date which is 12 months after the closing of the Offering (or 15,
18, or 21 months after the closing of the Offering, if extended), 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 (which interest shall be net of any taxes
payable and up to a maximum of $600,000 of working capital released to us and less up to $50,000 of interest that may be released
to the Company to pay liquidation expenses), shall be distributed to the Public Stockholders of record as of such date; provided,
however, that in the event the Trustee receives a Termination Letter in a form substantially similar to Exhibit B hereto, or if
the Trustee begins to liquidate the Property because it has received no such Termination Letter by the date which is 12 months
after the closing of this Offering (or 15, 18, or 21 months after the closing of the Offering, if extended), the Trustee shall
keep the Trust Account open until 12 months following the date the Property has been distributed to the Public Stockholders;

 

(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 (a “Withdrawal Instruction”), 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 or for working capital
purposes (including repayment of loans made to the Company by the Company’s sponsor or application of withdrawn or accrued
interest to the sponsor’s obligation to loan the Company money in connection with an extension), 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 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); provided, further that no more than $600,000 may be withdrawn for working capital purposes
.. 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 (a “Shareholder Redemption Withdrawal Instruction”), the Trustee shall distribute (from
a segregated account) 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 any provision of the Company’s amended and restated certificate of incorporation relating to stockholders’ rights
or pre-initial Business Combination activity. 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;
and

 

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

 

(m)
Upon receipt of an extension letter (“Extension Letter”) substantially similar to Exhibit E hereto at
least five business days prior to the Applicable Deadline, signed on behalf of the Company by an executive officer, and receipt
of the dollar amount specified in the Extension Letter on or prior to the Applicable Deadline, to follow the instructions set forth
in the Extension Letter.

 

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, President, Chief
Executive Officer or Chief Financial Officer. In addition, except with respect to its duties under Sections 1(i), 1(j),
1(k) and 1(m) 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 expenses,
including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it
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 expenses and losses 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 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 it is distributed to the Company pursuant to Sections 1(i) through 1(k) hereof.
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 monthly fee (on a pro rata basis) with respect to any period after the liquidation
of the Trust Account. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in
this Section 2(c) 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 (a “Business
Combination”), provide to the Trustee an affidavit or certificate of a designated Inspector of Elections from a firm regularly
engaged in the business of soliciting proxies and/or tabulating stockholder votes for stockholder meetings verifying the vote of
the Company’s stockholders regarding such Business Combination;

 

(e)
Provide Maxim Group LLC 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;

 

(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;

 

(g)
Within four (4) business days after the Underwriters exercise 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 Discount, which shall
in no event be less than $1,750,000;

 

(h)
If applicable, issue a press release at least three days prior to the Applicable Deadline announcing that, at least five days prior
to the Applicable Deadline, the Company received notice from the Company’s sponsor that the sponsor intends to extend the
Applicable Deadline;

 

(i)
Promptly following the Applicable Deadline, disclose whether or not the term the Company has to consummate a Business Combination
has been extended;

 

(j)
Not, by amendment of its amended and restated certificate of incorporation, bylaws or other agreement, through any reorganization,
transfer of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of securities, or any other voluntary
action, avoid or seek to avoid the observance or performance of any of the terms of the rights of the Public Stockholders, and
will at all times in good faith carry out all of the provisions described in the Company’s amended and restated certificate
of incorporation, herein and in any other agreement described in the Registration Statement, in each case, as of the date hereof,
and take all action as may be required to protect the rights of the Public Stockholders. For the avoidance of doubt and without
limiting the generality of the foregoing, the Company will not impair the redemption rights of the Public Stockholders as described
in its amended and restated certificate of incorporation and in the Registration Statement, in each case, as of the date hereof,
through the amendment of the Company’s amended and restated certificate of incorporation or any of the agreements or arrangements
described herein or otherwise, and the Company will ensure that the Public Stockholders shall at all times be granted the redemption
rights as described in the Company’s amended and restated certificate of incorporation, herein and in the Registration Statement,
in each case, as of the date hereof.

 

(k)
Upon receiving the written request of a Public Stockholder to do so at any time after the date hereof, provide such Public Stockholder
with a copy of any instruction provided to the Trustee pursuant to Section 1(i) or Section 1(j) along with any Notification
(as defined in Exhibit A), Instruction Letter (as defined in Exhibit A),  applicable flow of funds memorandum (or similar
document), or any other notice delivered to the Trustee by the Company regarding the disbursement of Property from the Trust Account
resulting in the Property left in the Trust Account being less than $50,750,000 (or $58,362,500 if the Underwriters’ over-allotment
option is exercised in full) plus any amount eventually deposited on account of any Extension, which, in each case, shall specify
to whom the Property shall be disbursed (such written notice, a "Disbursement Notice" and the date such
Public Shareholder receives a Disbursement Notice, a "Disbursement Notice Date"). Each Disbursement Notice
shall be delivered to such Public Shareholder at least two business days prior to the disbursement of any Property pursuant to
Section 1(i) or Section 1(j) and no Property shall be disbursed from the Trust Account prior to the date that is
two business days from the applicable Disbursement Notice Date.

 

     

     

    

 

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 party except for liability arising out of 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 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 Trustee’s best judgment, 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, 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) and 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. 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.

 

     

     

    

 

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 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 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).

 

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 immediately 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 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. This
Agreement 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 Sections 1(i) and 1(k) hereof (which may not be modified, amended or deleted without
the affirmative vote of sixty five percent (65%) of the then outstanding shares of Common Stock; provided that 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), 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.

 

(d)
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.

 

(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 or electronic mail transmission:

 

     

     

    

 

if to the Trustee,
to:

 

Continental Stock
Transfer & Trust Company

1 State Street,
30th Floor New York, New York 10004

Attn: Steven G.
Nelson or Sharmin Carter

Fax No.: (212)
509-5150

 

     

     

    

 

if to the Company,
to:

I-AM Capital Acquisition
Company

1345 Avenue of
the Americas, 2nd Floor

New York, NY 10105

Attn: F.
Jacob Cherian

Fax No.: (212)878-3630

 

in each case, with
copies to:

 

Ellenoff Grossman
& Schole LLP

1345 Avenue of
the Americas

New York, New
York 10105

Attn: Stuart Neuhauser,
Esq.

Fax No.: (212)
370-7889

 

and

Maxim Group LLC

405 Lexington
Avenue

New York, NY 10174

Attn: Larry Glassberg

Fax No.: (212)
895-3783

 

and

Loeb & Loeb
LLP

345 Park Avenue

New York, NY 10154

Attn: Mitchell
S. Nussbaum

Fax No.: (212)
407-4990

 

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

 

(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 Maxim Group LLC on behalf of the Underwriters, is a third
party beneficiary of this Agreement and that the Public Stockholders are third party beneficiaries
of Sections 2(j) and 2(k) hereof.

 

(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:
	 	 	Title:
	 	 	 
	 	I-AM Capital Acquisition Company
	 	 	 
	 	By:	 
	 	 	Name: F. Jacob Cherian
	 	 	Title:   Chief Executive Officer

 

     

     

    

 

SCHEDULE A

 

	Fee Item	 	Time and method of payment	 	Amount	 
	Initial set-up fee.	 	Initial closing of Offering by wire transfer.	 	$	1,500	 
	Trustee administration fee	 	Payable annually. First year fee payable, at initial closing of Offering by wire transfer, thereafter by wire transfer or check.	 	$	8,000	 
	Transaction processing fee for disbursements to Company under Sections 1(i) and 1(j)	 	Deduction by Trustee from accumulated income following disbursement made to Company under Section 1	 	$	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	 

 

     

     

    

 

EXHIBIT A

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust
Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Steven G. Nelson or Sharmin Carter

 

		Re:	Trust Account No.      Termination Letter

 

Gentlemen:

 

Pursuant
to Section 1(i) of the Investment Management Trust Agreement between I-AM Capital Acquisition Company (“Company”)
and Continental Stock Transfer & Trust Company (“Trustee”), dated as of ___________, 2017 (“Trust
Agreement”), this is to advise you that the Company has entered into an 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 forty-eight (48) hours in advance of the actual date of
the consummation of the Business Combination (“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 on [insert date], and to transfer the proceeds into a segregated account held by you on behalf of the Beneficiaries
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 segregated account held by you on behalf of the Beneficiaries 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 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) joint written instruction signed by
the Company and Maxim Group LLC 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 and payment of the Deferred Discount to Maxim Group
LLC from the Trust Account (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 in the Trust Account pursuant to the terms hereof, 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 the notice as soon thereafter as
possible.

 

     

     

    

 

	 	Very truly yours,
	 	 
	 	I-AM Capital Acquisition Company
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

cc: Maxim Group LLC

 

     

     

    

 

EXHIBIT B

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust
Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Steven G. Nelson or Sharmin Carter

 

		Re:	Trust Account No.      Termination Letter

 

Gentlemen:

 

Pursuant
to Section 1(i) of the Investment Management Trust Agreement between I-AM Capital Acquisition Company (“Company”)
and Continental Stock Transfer & Trust Company (“Trustee”), dated as of [●], 2017 (“Trust
Agreement”), this is to advise you that the Company has been unable to effect a business combination with a Target
Business (“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 on [●],
20__ 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 [●], 20__, as the record date for the purpose of determining the Public
Stockholders 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.

 

	 	Very truly yours,
	 	 
	 	I-AM Capital Acquisition Company
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

cc: Maxim Group LLC

 

     

     

    

 

EXHIBIT C

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust
Company

1 State Street, 30thFloor

New York, New York 10004

Attn: Steven Nelson and Sharmin Carter

 

		Re:	Trust Account No.      Withdrawal Instruction

 

Gentlemen:

 

Pursuant
to Section 1(j) of the Investment Management Trust Agreement between I-AM Capital Acquisition Company (“Company”)
and Continental Stock Transfer & Trust Company (“Trustee”), dated as of [●], 2017 (“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] [for working capital purposes. The Company has previously withdrawn $___ for working capital purposes]. 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,
	 	 
	 	I-AM Capital Acquisition Company
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

cc: Maxim Group LLC

 

     

     

    

 

EXHIBIT D

 

[Letterhead
of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust
Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Steven Nelson and Sharmin Carter

 

		Re:	Trust Account No. [____] Shareholder Redemption Withdrawal Instruction

 

Gentlemen:

 

Pursuant
to Section 1(k) of the Investment Management Trust Agreement between I-AM Capital Acquisition Company (“Company”)
and Continental Stock Transfer & Trust Company (“Trustee”), dated as of [●], 2017 (“Trust
Agreement”), the Company hereby requests that you deliver $[         
] 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 shareholder vote to approve an amendment to the Company’s amended and restated certificate
of incorporation that would affect the substance or timing of the Company’s obligation 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,
	 	 
	 	I-AM Capital Acquisition Company
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

cc: Maxim Group LLC

 

     

     

    

 

EXHIBIT E

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock
Transfer& Trust Company

1 State Street,
30th Floor

New York, New
York 10004

Attn:  Steven
Nelson and Sharmin Carter

 

		Re:	Trust Account No. [     ] Extension Letter

 

Gentlemen:

 

Pursuant
to Section 1(m) of the Investment Management Trust Agreement between I-AM Capital Acquisition Company (“Company”)
and Continental Stock Transfer & Trust Company, dated as of [        ], 2017 (“Trust
Agreement”), this is to advise you that the Company is extending the time available in order to consummate a Business
Combination with the Target Businesses for an additional three (3) months, from _______ to _________ (the “Extension”).

 

This
Extension Letter shall serve as the notice required with respect to Extension prior to the Applicable Deadline. Capitalized words
used herein and not otherwise defined shall have the meanings ascribed to them in the Trust Agreement.

 

In
accordance with the terms of the Trust Agreement, we hereby authorize you to (i) deposit [$291,667 (or $335,398 if the underwriters’
over-allotment option was exercised in full)], which will be wired to you, into the Trust Account investments upon receipt and
(ii) apply [           ] of accrued interest held in the trust account toward
the obligation of the Company’s sponsor to lend the Company $291,667 (or $335,398) in connection with such extension.

 

This
is the ____ of up to three Extension Letters.

 

	 	Very truly yours,
	 	 
	 	I-AM CAPITAL ACQUISITION COMPANY
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

cc:           Maxim
Group LLC

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00273-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00273-of-00352.parquet"}]]