Document:

Exhibit 10.4

 

INVESTMENT MANAGEMENT TRUST AGREEMENT

 

This
Investment Management Trust Agreement (this “Agreement”) is made effective as of July 23, 2015 by and
between JM Global Holding 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. 333-204995 (the “Registration Statement”)
and related 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”), and one warrant, each warrant entitling the holder thereof to purchase
one-half of one share of Common Stock (such initial public offering hereinafter referred to as the “Offering”),
was declared effective by the U.S. Securities and Exchange Commission on July 23, 2015; and

 

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

 

WHEREAS,
as described in the Registration Statement, $50,000,000 of the gross proceeds of the Offering and sale of the Private Placement
Units (as defined in the Underwriting Agreement) (or $57,500,000 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 in the United States
(the “Trust Account”) for the benefit of the Company and the holders of the Company’s 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 are referred herein to as the “Public Stockholders,” and
the Public Stockholders and the Company together are referred to herein 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 at JP 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 (c)(2), (c)(3), (c)(4) and (c)(5) of Rule 2a-7 promulgated
under the Investment Company Act of 1940, as amended, 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;

 

(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 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, President, 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 any amounts representing interest earned on the Trust Account, less any interest previously released to, or
reserved for use by, the Company as provided in this Agreement for working capital purposes or to pay taxes or dissolution expenses,
only as directed in the Termination Letter and the other documents referred to therein, or (y) July 29, 2017 (“ Termination
Date ”), 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 any amounts representing interest earned on the Trust Account, less any interest
previously released to, or reserved for use by, the Company as provided in this Agreement for working capital requirements or
to pay taxes or dissolution expenses, shall be distributed to the Public Stockholders of record as of such date. The Trustee agrees
to serve as the paying agent of record (“Paying Agent”) with respect to any distribution of Property
that is to be made to the Public Stockholders and, in its separate capacity as Paying Agent, agrees to distribute such Property
directly to the Company’s Public Stockholders in accordance with the terms of this Agreement and the Company’s Certificate
of Incorporation in effect at the time of such distribution;

 

(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 Request”), 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, to cover working capital purposes or
pay dissolution expenses, which amount shall be delivered directly to the Company by electronic funds transfer or other method
of prompt payment. Any Withdrawal Request for a distribution to pay a franchise tax 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. To the extent there is not sufficient cash in the Trust Account to fulfill a Withdrawal
Request, 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. The
Trustee acknowledges and agrees that no amount in excess of interest income earned on the Property shall be payable from the Trust
Account to the Company pursuant to this Section 1(j). A Withdrawal Request 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

 

(k)
Not make any withdrawals or distributions from the Trust Account other than pursuant to Section 1(i) or (j) 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, President, Chief
Executive Officer or Chief Financial Officer. In addition, except with respect to its duties under Sections 1(i) and 1(j)
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;

 

    	2

    	 

    

 

(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),
the Trustee shall notify the Company in writing of such claim (hereinafter referred to as the “Indemnified Claim”).
The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided that the Trustee
shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld.
The Trustee shall not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent
shall not be unreasonably withheld. 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(j) 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 the inspector of elections for the stockholder
meeting verifying the vote of such stockholders regarding such Business Combination;

 

(e)
Provide 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;

 

(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; and

  

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 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;

 

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(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) and 1(j) 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) and distributed the Property in accordance with the provisions of the Termination Letter, this Agreement
shall terminate except as set forth in Section 2(b).

 

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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 Section 1(i) hereof (which may not be modified, amended or deleted without the affirmative vote of ninety percent
(90%) of the then outstanding shares of Common Stock); provided that no such amendment will affect any Public Stockholder who
has elected to redeem shares of Common Stock in connection with a stockholder vote to amend this Agreement to extend the Termination
Date;

 

(d)
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.

 

(e)
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.

 

(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
or by facsimile transmission:

 

if
to the Trustee, to:

 

Continental
Stock Transfer & Trust Company

17
Battery Place

New
York, New York 10004

Attn:
Steven G. Nelson and Frank Di Paolo

Fax
No.: (212) 509-5150

 

if
to the Company, to:

 

JM
Global Holding Company

1615
South Congress Avenue, Suite 103

Delray
Beach, Florida 33445

Attn:
Tim Richerson

 

in
each case, with copies to:

 

Ellenoff
Grossman & Schole LLP

1345
Avenue of the Americas

New
York, New York 10105

Attn:
Stuart Neuhauser

Fax
No.: (212) 370-7889

 

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

 

(h)
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.

 

(i)
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.

 

(j)
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.

 

(k)
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.

 

(l)
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]

 

    	6

    	 

    

 

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

 

	 	Continental Stock Transfer & Trust Company, as Trustee
	 	 	 
	 	By:	/s/ Frank Di Paolo
	 	 	
        Name: Frank Di Paolo

        Title: Vice President

 

	 	JM Global Holding Company    
	 	 	 
	 	By:	/s/ Tim Richerson
	 	 	
        Name: Tim Richerson  

        Title: Chief Executive Officer

 

[Signature
Page to Investment Management Trust Agreement]

 

    	7

    	 

    

 

SCHEDULE
A

 

	Fee Item	 	Time and method of payment	 	Amount	 
	Initial acceptance fee	 	Initial closing of IPO by wire transfer	 	$	1,500.00	 
	Annual fee	 	First year, initial closing of IPO by wire transfer; thereafter on the anniversary of the effective date of the IPO by wire transfer or check	 	$	10,000.00	 
	Transaction processing fee for disbursements to Company under Section 2	 	Deduction by Trustee from accumulated income following disbursement made to Company under Section 2	 	$	250.00	 
	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

17
Battery Place

New
York, New York 10004

Attn:
Steven G. Nelson and Frank Di Paolo

 

	 	Re:	Trust
    Account No. [________] Termination Letter

 

Gentlemen:

 

Pursuant
to Section 1(i) of the Investment Management Trust Agreement between JM Global Holding Company (“Company”)
and Continental Stock Transfer & Trust Company (“Trustee”), dated as of July 23, 2015 (“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 the trust checking account at JP Morgan Chase Bank, N.A. so
that, on the Consummation Date, all of funds held in the Trust Account will be immediately available for transfer to the account
or accounts that the Company shall direct on the Consummation Date. It is acknowledged and agreed that while the funds are on
deposit in the trust checking account at JP 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 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) [an affidavit] [a certificate] of the
Chief Executive Officer or President, which verifies that the Business Combination has been approved by a vote of the Company’s
stockholders, if a vote is held, and (b) written instruction signed by the Company with respect to the transfer of the funds held
in 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 from 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 the notice as soon thereafter as possible.

 

	 	Very truly yours,
	 	 	 
	 	JM Global Holding Company
	 	 	 
	 	By:	 
	 	 	Name: Tim Richerson
	 	 	Title: Chief Executive Officer

 

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

 

    	 

    	 

    

  

EXHIBIT
B

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer & Trust Company

17
Battery Place

New
York, New York 10004

Attn:
Steven G. Nelson, Frank Di Paolo and Mark Zimkind

 

	 	Re:	Trust
    Account No. [________] Termination Letter

 

Gentlemen:

 

Pursuant
to Section 1(i) of the Investment Management Trust Agreement between JM Global Holding Company (“Company”)
and Continental Stock Transfer & Trust Company (“Trustee”), dated as of July 23, 2015 (“Trust
Agreement”), this is to advise you that [the Company’s board of director has approved and commenced with the
liquidation and dissolution of the Company] [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 the trust checking account at JP Morgan Chase Bank, N.A. 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. In your capacity as Paying Agent, we hereby
direct you 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 as in effect at the time of such distribution.
Upon the distribution of all funds in the Trust Account, your obligations under the Trust Agreement shall be terminated, except
to the extent otherwise provided in Section 1(j) of the Trust Agreement.

 

	 	Very truly yours,
	 	 	 
	 	JM Global Holding Company    
	 	 	 
	 	By:	 
	 	 	Name: Tim Richerson
	 	 	Title: Chief Executive Officer

 

cc:
[___________], Cantor Fitzgerald & Co.

 

    	 

    	 

    

  

EXHIBIT
C

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer & Trust Company

17
Battery Place

New
York, New York 10004

Attn:
Cynthia Jordan, Vice President

 

	 	Re:	Trust
    Account No. [           ] Withdrawal Instruction

 

Gentlemen:

 

Pursuant
to Section 1(j) of the Investment Management Trust Agreement between JM Global Holding Company (“Company”)
and Continental Stock Transfer & Trust Company (“Trustee”), dated as of July 23, 2015 (“Trust
Agreement”), the Company hereby requests that you deliver to the Company $____ of the interest income earned on
the Property as of the date hereof. 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] [in connection with its dissolution [upon the expiration of the 24 month period following completion of the
Offering] [prior to Termination Date]]. 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,
	 	 	 
	 	  JM Global Holding Company
	 	 	 
	 	 By:	
	 	 	Name: Tim Richerson
	 	 	Title: Chief Executive Officer 

 

cc:
[ _________], Cantor Fitzgerald & Co.Exhibit 10.5

 

REGISTRATION RIGHTS AGREEMENT

 

THIS REGISTRATION RIGHTS
AGREEMENT (this “Agreement”), dated as of July 23, 2015, is made and entered into by and among each
of JM Global Holding Company, a Delaware corporation (the “Company”), Zhong Hui Holding Limited, a Republic
of Seychelles registered Company (the “Sponsor”) and the other Initial Stockholders (as defined below)
and any person or entity who hereafter becomes a party to this Agreement pursuant to Section 5.2 of this Agreement (each,
a “Holder” and collectively, the “Holders”).

 

RECITALS

 

WHEREAS, the Company
has issued the Sponsor and the other Initial Stockholders an aggregate of 1,504,688 shares (the “Founder Shares”)
of the Company’s common stock, $0.0001 par value per share (the “Common Stock”), of which an aggregate
of 192,188 Founder Shares are subject to the forfeiture to the extent that the underwriters of the Company’s initial public
offering (the “IPO”) do not exercise their overallotment option in full; 

 

WHEREAS, the Sponsor
has entered into a unit subscription agreement with the Company, pursuant to which the Sponsor has agreed to purchase an aggregate
of 250,000 units of the Company (each, a “ Placement Unit ” and collectively, the “
Placement Units ”) (or 268,750 Placement Units in the event the over-allotment option is exercised in full), each
Placement Unit consisting of one share of Common Stock (each, a “Placement Share” and collectively, the
“Placement Shares”) and one warrant to purchase one half of one share of Common Stock (each, a “Placement
Warrant ” and collectively, the “Placement Warrants”) in a private placement transaction
(the “Private Placement”) occurring simultaneously with the closing of the IPO; 

 

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

 

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

 

ARTICLE I

DEFINITIONS

 

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

 

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

 

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

 

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

 

1.1.4           “Business
Combination” means an initial merger, capital stock exchange, asset acquisition, stock purchase, reorganization
or similar business transaction with one or more businesses, or engagement in any other similar business combination transaction
involving the Company.

 

1.1.5           “Cantor”
shall mean Cantor Fitzgerald & Co.

 

    	 

    	 

    

 

1.1.6           “Commission”
shall mean the Securities and Exchange Commission.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

1.1.14        “Founder
Lock-up Period” shall mean, with respect to the Founder Shares, the period ending on the earlier of: (A) one year
following the Business Combination or (B) the date upon which the closing price of the Common Stock exceeds $12.00 for any 20
trading days within a 30-trading day period at least 150 days following the consummation of the Company’s initial business
combination, or earlier, in any case, if, following a business combination, the Company engages in a subsequent transaction (1)
resulting in its shareholders having the right to exchange their shares for cash or other securities or (2) involving a consolidation,
merger or similar transaction that results in change in the majority of the Board or management team of the Company in which the
Company is the surviving entity.

 

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

 

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

 

1.1.17        “Initial
Stockholders” shall mean the officers of the Company, the directors of the Company and the Sponsor.

 

1.1.18        “IPO”
shall have meaning set forth in the Recitals hereto.

 

1.1.19        “Letter
Agreements” shall mean the letter agreements by and among the Company, security holders named therein, and certain
of the Company’s officers and directors.

 

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

 

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

 

1.1.22        “Option
Securities” shall have the meaning given in Section 2.1.4

 

1.1.23        “Piggy-back
Registration” shall have the meaning given in Section 2.2.1.

 

1.1.24        “Placement
Share” or “Placement Shares” shall have the meaning given in the Recitals hereto.

 

1.1.25        “Placement
Unit Lock-up Period” shall mean, with respect to the Placement Units, Placement Shares, Placement Warrants and any
of the shares of Common Stock issued or issuable upon the exercise of such Placement Warrants, 30 days beginning after the consummation
of a Business Combination.

 

    	2

    	 

    

 

1.1.26        “Placement
Unit” or “Placement Units” shall have the meaning given in the Recitals hereto.

 

1.1.27        “Placement
Warrant” or “Placement Warrants” shall have the meaning given in the Recitals hereto.

 

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

 

1.1.29        “Pro
Rata” shall have the meaning given in Section 2.1.4.

 

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

 

1.1.31        “Prospectus
Date” shall mean the date of the final Prospectus filed with the Commission and relating to the IPO. 

 

1.1.32        “Registrable
Security” shall mean (a) the Founder Shares, (b) the Placement Warrants (including any shares of Common Stock
issued or issuable upon the exercise of any such Placement Warrants), (c) the Placement Shares, (d) any outstanding shares
of Common Stock or any other equity security (including the Common Stock issued or issuable upon the exercise of any other equity
security) held by a Holder as of the date of this Agreement, (e) any equity securities (including the shares of Common Stock
issued or issuable upon the exercise of any such equity security) of the Company issuable upon conversion of any working capital
loans made to the Company by a Holder, and (f) any other equity security of the Company issued or issuable with respect to any
such shares of Common Stock by way of a stock dividend or stock split or in connection with a combination of stock, acquisition,
recapitalization, consolidation, reorganization, stock exchange, stock reconstruction and amalgamation or contractual control arrangement
with, purchasing all or substantially all of the assets of, or engagement in any other similar transaction; provided, however,
that, as to any particular Registrable Security, such securities shall cease to be Registrable Securities when: (i) if a Registration
Statement with respect to the sale of such securities shall have become effective under the Securities Act, at the earlier of (a)
one year following the date the Registration Statement is declared effective or (b) the date that such securities shall have been
sold, transferred, disposed of or exchanged in accordance with such Registration Statement; (ii) such securities may otherwise
be transferred, new certificates for such securities not bearing a legend restricting further transfer shall have been delivered
by the Company and subsequent public distribution of such securities shall not require registration under the Securities Act; (iii) such
securities shall have ceased to be outstanding; or (iv) such securities have been sold to, or through, a broker, dealer or
underwriter in a public distribution or other public securities transaction.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    	3

    	 

    

 

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

 

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

 

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

  

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

  

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

 

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

 

ARTICLE II

REGISTRATIONS

 

2.1 Demand Registration.

 

2.1.1          Request
for Registration. Subject to the provisions of subsection 2.1.4 and Section 2.4 hereof, at any time and from time to time
on or after the date the Company consummates the Business Combination, the Holders of a majority-in-interest of the then outstanding
number of Registrable Securities (the “ Demanding Holders ”) may make a written demand for Registration
under the Securities Act of all or part of their Registrable Securities, which written demand shall describe the amount and type
of securities to be included in such Registration and the intended method(s) of distribution thereof (such written demand a “
Demand Registration ”) . The Company shall, within ten (10) days of the Company’s receipt of the
Demand Registration, notify, in writing, all other Holders of Registrable Securities of such demand, and each Holder of Registrable
Securities who thereafter wishes to include all or a portion of such Holder’s Registrable Securities in a Registration pursuant
to a Demand Registration (each such Holder that includes all or a portion of such Holder’s Registrable Securities in such
Registration, a “ Requesting Holder ”) shall so notify the Company, in writing, within five (5) days
after the receipt by the Holder of the notice from the Company. Upon receipt by the Company of any such written notification from
a Requesting Holder(s) to the Company, such Requesting Holder(s) shall be entitled to have their Registrable Securities included
in a Registration pursuant to a Demand Registration and the Company shall, not more than forty five (45) days after the Company’s
receipt of the Demand Registration, file a Registration Statement on Form S-1 or any similar long-form registration statement that
may be available at that time ( “ Form S-1 ”) with respect to all Registrable Securities requested by
the Demanding Holders and Requesting Holders pursuant such the Demand Registration, and shall use its reasonable best efforts to
cause such Registration Statement to be declared effective by the Commission as soon as practicable thereafter; provided, however,
that the Company may use a Registration Statement on Form S-3 or any successor form thereto if the Company would qualify
to use such form within 30 days after the date on which the initial demand request is given and the Company shall not be required
to file such Registration Statement until it is so qualified. Under no circumstances shall the Company be obligated to
effect more than an aggregate of three (3) Registrations pursuant to a Demand Registration under this subsection 2.1.1 with
respect to any or all Registrable Securities.

 

    	4

    	 

    

 

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

 

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

 

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

 

2.1.5          Demand
Registration Withdrawal. A majority-in-interest of the Demanding Holders initiating a Demand Registration or a majority-in-interest
of the Requesting Holders (if any), pursuant to a Registration under subsection 2.1.1 shall have the right in their sole discretion
to withdraw from a Registration pursuant to such Demand Registration upon written notification to the Company and the Underwriter
or Underwriters (if any) of their intention to withdraw from such Registration prior to the effectiveness of the Registration Statement
filed with the Commission with respect to the Registration of their Registrable Securities pursuant to such Demand Registration.
Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred
in connection a Registration pursuant to a Demand Registration prior to its withdrawal under this subsection 2.1.5.

 

    	5

    	 

    

  

2.2 Piggy-back Registration.

 

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

 

2.2.2          Reduction
of Piggy-back Registration. If the managing Underwriter or Underwriters in an Underwritten Registration that is to be a Piggy-back
Registration, in good faith, advises the Company and the Holders of Registrable Securities participating in the Piggy-back Registration
in writing that the dollar amount or number of the shares of Common Stock that the Company desires to sell, taken together with
(i) the shares of Common Stock, if any, as to which Registration has been demanded pursuant to separate written contractual
arrangements with persons or entities other than the Holders of Registrable Securities hereunder, (ii) the Registrable Securities
as to which registration has been requested pursuant Section 2.2.1 hereof, and (iii) the shares of Common Stock, if any, as
to which Registration has been requested pursuant to separate written contractual piggy-back registration rights of other stockholders
of the Company, exceeds the Maximum Number of Securities, then:

 

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

 

    	6

    	 

    

 

(b) If the Registration is pursuant
to a request undertaken at the demand of holders of Option Securities, then the Company shall include in any such Registration
(A) first, the shares of Common Stock or other securities for the account of the demanding persons, Pro Rata, that can be sold
without exceeding the Maximum Number of Shares; (B) second, to the extent that the Maximum Number of Shares has not been reached
under the foregoing clause (A), the shares of Common Stock or other securities that the Company desires to sell that can be sold
without exceeding the Maximum Number of Shares; (C) third, to the extent that the Maximum Number of Shares has not been reached
under the foregoing clauses (A) and (B), the shares of Registrable Securities, Pro Rata, as to which registration has been requested
pursuant to the terms hereof, that can be sold without exceeding the Maximum Number of Shares; and (D) fourth, to the extent that
the Maximum Number of Shares has not been reached under the foregoing clauses (A), (B) and (C), the shares of Common Stock or other
securities for the account of other persons that the Company is obligated to register pursuant to written contractual arrangements
with such persons, that can be sold without exceeding the Maximum Number of Shares; and

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

 

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

 

2.2.4          Unlimited
Piggy-back Registration Rights. For purposes of clarity, any Registration effected pursuant to Section 2.2 hereof shall
not be counted as a Registration pursuant to a Demand Registration effected under Section 2.1 hereof; provided, however, that
the rights to demand a Piggy-back Registration under this Section 2.2 shall terminate on the second anniversary of the consummation
of the Business Combination.

 

2.3 Registrations
on Form S-3. Provided that the Company has qualified for the use of a Registration Statement on Form S-3 or
any successor form thereto, the Holders of Registrable Securities may, at any time, and from time to time, request in writing that
the Company, pursuant to Rule 415 under the Securities Act (or any successor rule promulgated thereafter by the Commission),
register the resale of any or all of their Registrable Securities on Form S-3 or any similar short-form Registration Statement
that may be available at such time (“Form S-3”); provided, however, that the Company shall not be
obligated to effect such request through an Underwritten Offering. Within ten (10) days of the Company’s receipt of
a written request from a Holder or Holders of Registrable Securities for a Registration on Form S-3, the Company shall promptly
give written notice of the proposed Registration on Form S-3 to all other Holders of Registrable Securities, and each Holder of
Registrable Securities who thereafter wishes to include all or a portion of such Holder’s Registrable Securities in such
Registration on Form S-3 shall so notify the Company, in writing, within five (5) days after the receipt by the Holder of
the notice from the Company. As soon as practicable thereafter, but not more than thirty (30) days after the Company’s
initial receipt of such written request for a Registration on Form S-3, the Company shall file a Registration Statement on Form
S-3 with respect to the Registrable Securities of such Holder(s) as are specified in such written request, together with all or
such portion of Registrable Securities of any other Holder or Holders joining in such request as are specified in the written notification
given by such Holder or Holders, and shall use its reasonable best efforts to cause such Registration Statement to be declared
effective by the Commission as soon as practicable thereafter; provided, however, that the Company shall not be obligated to effect
any such Registration pursuant to Section 2.3 hereof if (i) a Form S-3 is not available for such offering; or (ii) the
Holders of Registrable Securities, together with the Holders of any other equity securities of the Company entitled to inclusion
in such Registration, propose to sell the Registrable Securities and such other equity securities (if any) at any aggregate price
to the public of less than $10,000,000. The rights to demand Registration on Form S-3 under this Section 2.3 shall terminate on
the third anniversary of the Business Combination.

 

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2.4 Restrictions
on Registration Rights. The Company shall not be obligated to effect any Demand Registration within 180 days after
the effective date of a previous Demand Registration or a previous Piggy-back Registration in which holders of Registrable
Securities were permitted to register, and actually sold, 75% of the Registrable Securities requested to be included therein. The
Company may postpone for up to 120 days the filing or effectiveness of (A) a Registration Statement for a Demand Registration if
the Holders have requested an Underwritten Registration and the Company and the Holders are unable to obtain the commitment of
underwriters to firmly underwrite the offer, or (B) a Registration Statement for a Demand Registration or a Registration on Form
S-3 if the Registration Statement is required under applicable law, rule or regulation to contain (i) financial statements that
are unavailable to the Company for reasons beyond the Company’s control, (ii) audited financial statements as of a date other
than the Company’s fiscal year end (unless the Holders requesting Registration agree to pay the reasonable expenses
of this audit), (iii) pro forma financial statements that are required to be included in a registration statement,
or if the Board determines in its reasonable good faith judgment that such Demand Registration would (x) materially interfere
with a significant acquisition, corporate organization or other similar transaction involving the Company, (y) require the Company
to make an Adverse Disclosure or (z) render the Company unable to comply with requirements under the Securities Act or Exchange
Act; provided, that in such event the Holders of a majority-in-interest of the Registrable Securities initiating a Demand Registration shall
be entitled to withdraw such request and, if such request is withdrawn, such Demand Registration shall not count as one
of the permitted Demand Registrations hereunder and the Company shall pay all Registration Expenses in connection
with such Registration. The Company may delay a Demand Registration hereunder only twice in any period of twelve
consecutive months.

 

ARTICLE III

COMPANY PROCEDURES

 

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

 

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

 

3.1.2          prepare
and file with the Commission such amendments and post-effective amendments to the Registration Statement, and such supplements
to the Prospectus, as may be requested by the Holders or any Underwriter of Registrable Securities or as may be required by the
rules, regulations or instructions applicable to the registration form used by the Company or by the Securities Act or rules and
regulations thereunder to keep the Registration Statement effective until the earlier of (a) one year following the effective date
of the Registration Statement or (b) until all Registrable Securities covered by such Registration Statement are sold in accordance
with the intended plan of distribution set forth in such Registration Statement or supplement to the Prospectus and either (i)
any underwriter overallotment option has terminated by its terms or (ii) the underwriters have advised the Company that they will
not exercise such option or any remaining portion thereof;

 

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

 

    	8

    	 

    

 

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

 

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

 

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

 

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

 

3.1.8          at least
five (5) days prior to the filing of any Registration Statement or Prospectus or any amendment or supplement to such Registration
Statement or Prospectus or any document that is to be incorporated by reference into such Registration Statement or Prospectus,
furnish a copy thereof to each seller of such Registrable Securities or its counsel;

 

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

 

3.1.10        in the
event of an Underwritten Offering, permit the participating Holders to rely on any “cold comfort” letter from the Company’s
independent registered public accountants provided to the managing Underwriter of such offering;

 

3.1.11        in the
event of an Underwritten Offering, permit the participating Holders to rely on any opinion(s) of counsel representing the Company
for the purposes of such Registration issued to the managing Underwriter of such offering covering legal matters with respect to
the Registration;

 

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

 

3.1.13        make
available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve
(12) months beginning with the first day of the Company’s first full calendar quarter after the effective date of the
Registration Statement which satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder, and
which requirement will be deemed to be satisfied if the Company timely files complete and accurate information on Forms 10-Q, 10-K
and 8-K under the Exchange Act and otherwise complies with Rule 158 under the Securities Act;

 

3.1.14        if the
Registration involves the Registration of Registrable Securities involving gross proceeds in excess of $25,000,000, use its reasonable
efforts to make available senior executives of the Company to participate in customary “road show” presentations that
may be reasonably requested by the Underwriter in any Underwritten Offering; and

 

    	9

    	 

    

 

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

 

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

 

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

 

3.4 Suspension
of Sales; Adverse Disclosure. Upon receipt of written notice from the Company that a Registration Statement or Prospectus contains
a Misstatement, each of the Holders shall forthwith discontinue disposition of Registrable Securities until he, she or it is advised
in writing by the Company that the use of the Prospectus may be resumed and he, she or it has received copies of a supplemented
or amended Prospectus correcting the Misstatement (it being understood that the Company hereby covenants to prepare and file such
supplement or amendment as soon as reasonably practicable after the time of such notice) and, if so directed by the Company, each
Holder shall deliver to the Company (at the Company's expense) all copies, other than permanent file copies then in such Holder's
possession, of the Prospectus covering such Registrable Securities at the time of receipt of such notice. If the continued use
of a Registration Statement in respect of any Registration at any time would require the Company to make an Adverse Disclosure,
or would require the inclusion in such Registration Statement of (i) financial statements that are unavailable to the Company for
reasons beyond the Company’s control, (ii) audited financial statements as of a date other than the Company’s fiscal
year end (unless the Holders requesting Registration agree to pay the reasonable expenses of this audit), or (iii) pro
forma financial statements that are required to be included in a registration statement, the Company may, upon giving
prompt written notice of such action to the Holders, delay the filing or initial effectiveness of, or suspend use of, such Registration
Statement for no more than 180 days. In the event the Company exercises its rights under the preceding sentence, the Holders
agree to suspend, immediately upon their receipt of the notice referred to above, their use of the Prospectus relating to any Registration
in connection with any sale or offer to sell Registrable Securities. The Company shall immediately notify the Holders of the expiration
of any period during which it exercised its rights under this Section 3.4.

 

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

 

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ARTICLE IV

INDEMNIFICATION AND CONTRIBUTION

 

4.1 Indemnification.

 

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

  

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

 

4.1.3          Any person
entitled to indemnification herein shall (i) give prompt written notice to the indemnifying party of any claim with respect
to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any person’s right to
indemnification hereunder to the extent such failure has not materially prejudiced the indemnifying party) and (ii) unless
in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties
may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably
satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability
for any settlement made by the indemnified party without its consent (but such consent shall not be unreasonably withheld). An
indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees
and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless
in the reasonable judgment of any indemnified party a conflict of interest may exist between such indemnified party and any other
of such indemnified parties with respect to such claim. No indemnifying party shall, without the consent of the indemnified party,
consent to the entry of any judgment or enter into any settlement which cannot be settled in all respects by the payment of money
(and such money is so paid by the indemnifying party pursuant to the terms of such settlement) or which settlement does not include
as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability
in respect to such claim or litigation.

 

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

 

    	11

    	 

    

 

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

 

ARTICLE V

MISCELLANEOUS

 

5.1 Notices.
Any notice or communication under this Agreement must be in writing and given by (i) deposit in the United States mail, addressed
to the party to be notified, postage prepaid and registered or certified with return receipt requested, (ii) delivery in person
or by courier service providing evidence of delivery, or (iii) transmission by hand delivery, electronic mail or facsimile.
Each notice or communication that is mailed, delivered, or transmitted in the manner described above shall be deemed sufficiently
given, served, sent, and received, in the case of mailed notices, on the third business day following the date on which it is mailed
and, in the case of notices delivered by courier service, hand delivery, electronic mail or facsimile, at such time as it is delivered
to the addressee (with the delivery receipt of the intended recipient or the affidavit of messenger) or at such time as delivery
is refused by the addressee upon presentation. Any notice or communication under this Agreement must be addressed to

 

the Company at:

 

JM Global Holding Company

1615 South Congress Avenue,
Suite 103

Delray Beach, Florida
33445

Email: timr@jmoceanavenue.com

 

with a copy to:

 

Ellenoff Grossman &
Schole LLP

1345 Avenue of the Americas

New York, New York 10105

Attention: Stuart Neuhauser

Email: sneuhauser@egsllp.com

Facsimile: (212) 370-7889

 

and to the Holders, at such Holder’s
address referenced in Schedule A.

 

Any party may change its address for notice
at any time and from time to time by written notice to the other parties hereto, and such change of address shall become effective
thirty (30) days after delivery of such notice as provided in this Section 5.1.

 

    	12

    	 

    

 

5.2 Assignment; No Third Party Beneficiaries.

 

5.2.1          This Agreement
and the rights, duties and obligations of the Company hereunder may not be assigned or delegated by the Company in whole or in
part. Prior to the expiration of the Founder Lock-up Period or Placement Unit Lock-up Period, as the case may be, no Holder may
assign or delegate their rights, duties or obligations under this Agreement in whole or in part. Notwithstanding the above, as
it applies to the Registrable Securities, the Holder may transfer such securities during the respective lock-up period to any Permitted
Transferee (as such term is defined in that certain Warrant Agreement between the Company and Continental Stock Transfer &
Trust Company) but only if such Permitted Transferee agrees to become bound by the transfer restrictions set forth in this Agreement
and the applicable Letter Agreement(s).

 

5.2.2          Except
as set forth in subsection 5.2.1 hereof, this Agreement and the rights, duties and obligations of the Holders of Registrable Securities
hereunder may be assigned or delegated by such Holder of Registrable Securities in conjunction with and to the extent of any transfer
of Registrable Securities by any such Holder.

 

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

 

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

 

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

 

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

 

5.4 Governing
Law; Venue. THE PARTIES EXPRESSLY AGREE THAT THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS OF THE STATE
OF NEW YORK, WITHOUT REGARD TO THE CONFLICT OF LAW PROVISIONS OF SUCH JURISDICTION. Any legal suit, action or proceeding arising
out of or based upon this Agreement or the transactions contemplated hereby may be instituted in the federal courts of
the United States or the courts of the State of New York in each case located in the city of New York, and each party irrevocably
submits to the exclusive jurisdiction of such courts in any such suit, action or proceeding.

 

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

 

5.6 Other
Registration Rights. The Company represents and warrants that no person, other than a Holder of Registrable Securities or Option
Securities, has any right to require the Company to register any securities of the Company for sale or to include such securities
of the Company in any Registration filed by the Company for the sale of securities for its own account or for the account of any
other person.

 

5.7 Termination.
This Agreement shall terminate upon the earlier of (i) the fifth anniversary of the date of this Agreement or (ii) the
date as of which (A) all of the Registrable Securities have either been sold pursuant to a Registration Statement or cease
to be Registrable Securities (but in no event prior to the applicable period referred to in Section 4(3) of the Securities
Act and Rule 174 thereunder) or (B) the Holders of all Registrable Securities are permitted to sell the Registrable Securities
under Rule 144 (or any similar provision) under the Securities Act without limitation on the amount of securities sold or the manner
of sale. The provisions of Section 3.5 and Article IV shall survive any termination.

 

[SIGNATURE PAGES FOLLOW]

 

    	13

    	 

    

 

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

 

	 	COMPANY:
	 	 
	 	
        JM GLOBAL HOLDING COMPANY

        a Delaware corporation

	 	 	 
	 	By:	/s/ Tim Richerson
	 	 	
        Name: Tim Richerson

        Title:   Chief Executive Officer

 

	 	
        HOLDERS:

         

        ZHONG HUI HOLDING LIMITED

        a Republic of Seychelles registered company

	 	 
	 	By:	/s/ Qi (Jacky) Zhang
	 	 	Name: 
	 	 	Title: 

. 

	 	/s/ Qi (Jacky) Zhang
	 	Qi (Jacky) Zhang  
	 	 
	 	/s/ Tim Richerson
	 	Tim Richerson
	 	 
	 	/s/ Peter Nathanial
	 	Peter Nathanial
	 	 
	 	/s/ Kurt Jetta 
	 	Kur Jetta

 

	 	/s/ Dongliang Qu
	 	Dongliang Qu

  

[Registration Rights Agreement]

 

 

14

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