Document:

Exhibit 10.4

      

       

        

      THIS EXPENSE ADVANCEMENT AGREEMENT (this "Agreement"), dated as of January 28, 2021, is made and entered into by and among CF Acquisition Corp. V, a Delaware
        corporation (the "Company"), and CFAC Holdings V, LLC (the "Sponsor").

       

      RECITALS

       

      WHEREAS, the Company is engaged in an initial public offering (the "Offering") pursuant to which the Company will
        issue and deliver up to 28,750,000 units (the "Units") (including up to 3,750,000 Units subject to an over-allotment option granted to the underwriters of the Offering), with each Unit
        comprised of one share of common stock, par value $0.0001 per share (the "Common Stock"), of the Company and one-third of one warrant, each whole warrant exercisable to purchase one share
        of Common Stock at $11.50 per share, subject to certain adjustments (each, a "Warrant," and collectively, the "Warrants");

       

      WHEREAS, the Company has filed with the Securities and Exchange Commission a registration statement on Form S-1, No. 333-251971 (the "Registration Statement") for the registration, under the Securities Act of 1933, as amended (the "Securities Act"), of the Units and the Warrants and the Common Stock
        underlying the Units, including a prospectus (the "Prospectus");

       

      WHEREAS, the proceeds of the Offering, together with certain additional amounts from a concurrency private placement, will be deposited in a trust account (the "Trust Account") at J.P. Morgan Chase Bank, N.A. and managed by Continental Stock Transfer & Trust Company, as trustee, as described in the Registration Statement and the Prospectus; and

       

      WHEREAS, the Sponsor desires to enter into this Agreement in order to facilitate the Offering and the other transactions contemplated in the Registration Statement and the
        Prospectus, including any merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination by the Company with one or more businesses (a "Business
          Combination").

       

      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:

       

      1. (a) From time to time, as may be requested by the Company, the Sponsor agrees to advance to the Company up to $1,750,000.00 in the aggregate, in each instance pursuant to the terms of the form of promissory note
        attached as Exhibit A hereto (the "Note"), as may be necessary to fund the Company's expenses relating to investigating and selecting a target business and other working capital
        requirements following the Offering and prior to any potential Business Combination.

       

      (b) The Sponsor represents to the Company that the Sponsor is capable of making such advances to satisfy its obligations under Section 1(a).

       

      (c) Notwithstanding anything to the contrary herein or in the Note, the Sponsor hereby waives any and all right, title, interest or claim of any kind ("Claim") in or to any distribution of the Trust Account in which the proceeds of the Offering, together with certain additional amounts, as described in greater detail in the Registration Statement and the Prospectus,
        will be deposited, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever; provided, however, that if the Company completes its Business Combination, the
        Company may repay such loaned amounts out of the proceeds released to the Company from the Trust Account.

       

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

       

      3. No party may assign either this Agreement or any of his, her or its rights, interests, or obligations hereunder without the prior written consent of the other party; provided,
        however, that, subject to all applicable securities laws, the Note shall be freely assignable by the Sponsor to any assignee; provided, further, that Sponsor's obligations hereunder shall remain in full
        force and effect in the event that an assignee fails to timely perform any of Sponsor's obligations hereunder. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any
        interest or title to the purported assignee. This Agreement shall be binding on the undersigned and each of his or its heirs, personal representatives, successors and assigns.

       

      
        
          

      

      4. Any notice, statement or demand authorized by this Agreement shall be sufficiently given (i) when so delivered if by hand or overnight delivery, (ii) the date and time shown on a facsimile transmission confirmation,
        or (iii) if sent by certified mail or private courier service within five (5) days after deposit of such notice, postage prepaid. Such notice, statement or demand shall be addressed as follows:

       

      If to the Company or the Sponsor:

      110 East 59th Street

      New York, NY 10022

      Attn: Chief Executive Officer

      Facsimile: (212) 829-4708

      

      

      with a copy in each case (which shall not constitute notice) to:

       

      Ellenoff Grossman & Schole LLP

      1345 Avenue of the Americas

      New York, New York 10105

      Attn: Stuart Neuhauser, Esq.

      Facsimile: (212) 370-7889

      

      

      5. This Agreement may be executed in any number of original or facsimile or other electronic counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts
        shall together constitute but one and the same instrument.

       

      6. This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability of this Agreement or of any other term or provision
        hereof. Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision as similar in terms to such invalid or unenforceable provision as may
        be possible and be valid and enforceable.

       

      7. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the
        substantive laws of another jurisdiction. The parties hereto (i) agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Agreement shall be brought and enforced in the state or federal courts located in
        the Borough of Manhattan in the State of New York, and irrevocably submits to such jurisdiction and venue, which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction and venue or that such courts
        represent an inconvenient forum.

       

      [Signature Page Follows]

       

      

      
        
          

      

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

       

      	 	
              CF ACQUISITION CORP. V

            
	 	 	 
	 	
              By:

            	
              /s/ Howard Lutnick

            
	 	 	
              Name:

            	
              Howard W. Lutnick

            
	 	 	
              Title:

            	
              Chief Executive Officer

            

      

      

      	 	
              CFAC HOLDINGS V, LLC

            
	 	 
	 	
              By:

            	
              /s/ Howard Lutnick

            
	 	 	
              Name:

            	
              Howard Lutnick

            
	 	 	
              Title:

            	
              Chief Executive Officer

            

      

      

      [Signature Page to the Expense Advance Agreement between CF Acquisition Corp. V and CFAC Holdings V, LLC for up to $1,750,000]Exhibit 10.5

    

     

      

    
      PRIVATE PLACEMENT UNITS PURCHASE AGREEMENT

       

      This PRIVATE PLACEMENT UNITS PURCHASE AGREEMENT (this "Agreement")
        is made as of the 28th day of January 2021, by and between CF Acquisition Corp. V, a Delaware corporation (the "Company"), and CFAC Holdings V, LLC, a Delaware
        limited liability company (the "Subscriber"), with a principal place of business at 110 East 59th Street, New York, NY 10022.

       

      WHEREAS, the Company desires to sell to Subscriber on a private placement basis (the "Offering") an aggregate of 600,000 units (the "Units") of the Company, each Unit comprised of one share of Class A common stock of
        the Company, par value $0.0001 per share ("Common Stock"), and one-third of one warrant to purchase one share of Common Stock ("Warrant"), for a purchase price of $6,000,000, or $10.00 per Unit. The shares of Common Stock underlying the Warrants are hereinafter referred to as the "Warrant Shares". The shares of Common Stock underlying the Units (excluding the Warrant Shares) are hereinafter referred to as the "Placement Shares." The Warrants underlying the Units are hereinafter referred to as the "Placement Warrants." The Units,
        Placement Shares, Placement Warrants and Warrant Shares, collectively, are hereinafter referred to as the "Securities." Each Placement Warrant is exercisable
        to purchase one share of Common Stock at an exercise price of $11.50 per share during the period commencing on the later of (i) twelve (12) months from the date of the closing of the Company's initial public offering of units (the "IPO") and (ii) 30 days following the consummation of the Company's initial business combination (the "Business Combination"), as such term is defined in the registration statement in connection with the IPO, as amended at the time it becomes effective (the "Registration Statement"), and expiring on the fifth anniversary of the consummation of the Business Combination; and

       

      WHEREAS, Subscriber wishes to purchase 600,000 Units for a purchase price of $6,000,000 and the Company wishes to accept such subscription from
        Subscriber.

       

      NOW, THEREFORE, in consideration of the premises and the mutual covenants hereinafter set forth and other good and valuable consideration, the receipt
        and sufficiency of which are hereby acknowledged, the Company and Subscriber hereby agree as follows:

       

      1. Agreement to Subscribe

       

      1.1. Purchase and Issuance of the Units. Upon the terms and subject to the conditions of this Agreement, Subscriber hereby agrees to purchase from the
        Company, and the Company hereby agrees to sell to Subscriber, on the Closing Date (as defined below) the Units in consideration of the payment of the Purchase Price (as defined below). On the Closing Date, the Company shall deliver (via book entry)
        to Subscriber the Securities purchased.

       

      1.2. Purchase Price. As payment in full for the Units being purchased under this Agreement, Subscriber shall pay an aggregate of $6,000,000 (the "Purchase Price") by wire transfer of immediately available funds or by such other method as may be reasonably acceptable to the Company, to the trust account (the "Trust Account") at a financial institution to be chosen by the Company,
        maintained by Continental Stock Transfer & Trust Company, acting as trustee ("Continental"), no later than the Closing Date (as defined below).

       

      1.3. Closing. The closing of the purchase and sale of the Units shall take place simultaneously with the closing of the IPO (the "Closing Date"). The closing of the purchase and sale of the Units shall take place at the offices of Ellenoff Grossman & Schole LLP, 1345 Avenue of the
        Americas, 11th Floor, New York, New York, 10105, or such other place as may be agreed upon by the parties hereto.

       

      1.4 Termination. This Agreement and each of the obligations of the undersigned shall be null and void and without effect if the IPO does not close
        prior to September 30, 2021.

       

      2. Representations and Warranties of Subscriber

       

      Subscriber represents and warrants to the Company that:

       

      2.1. No Government Recommendation or Approval. Subscriber understands that no federal or state agency has passed upon or made any recommendation or
        endorsement of the Company or the Offering of the Securities.

       

      2.2. Accredited Investor. Subscriber represents that it is an "accredited investor" as such term is defined in Rule 501(a) of Regulation D under the
        Securities Act of 1933, as amended (the "Securities Act"), and acknowledges that the sale contemplated hereby is being made in reliance, among other things, on
        a private placement exemption to "accredited investors" under the Securities Act and similar exemptions under state law.

       

      
        
          

      

      2.3. Intent. Subscriber is purchasing the Securities solely for investment purposes, for Subscriber's own account (and/or for the account or benefit of
        its members or affiliates, as permitted, pursuant to the terms of an agreement (the "Insider Letter") to be entered into with respect to the Securities
        between, among others, Subscriber and the Company, as described in the Registration Statement), and not with a view to the distribution thereof and Subscriber has no present arrangement to sell the Securities to or through any person or entity
        except as may be permitted under the Insider Letter. Subscriber shall not engage in hedging transactions with regard to the Securities unless in compliance with the Securities Act.

       

      2.4. Restrictions on Transfer. Subscriber acknowledges and understands the Units are being offered in a transaction not involving a public offering in
        the United States within the meaning of the Securities Act. The Securities have not been registered under the Securities Act and, if in the future Subscriber decides to offer, resell, pledge or otherwise transfer the Securities, such Securities may
        be offered, resold, pledged or otherwise transferred only (A) pursuant to an effective registration statement filed under the Securities Act, (B) pursuant to an exemption from registration under Rule 144 promulgated under the Securities Act, if
        available, or (C) pursuant to any other available exemption from the registration requirements of the Securities Act, and in each case in accordance with any applicable securities laws of any state or any other jurisdiction. Notwithstanding the
        foregoing, Subscriber acknowledges and understands the Securities are subject to transfer restrictions as described in Section 8 hereof. Subscriber agrees that if any transfer of its Securities or any interest therein is proposed to be made, as a
        condition precedent to any such transfer, Subscriber may be required to deliver to the Company an opinion of counsel satisfactory to the Company with respect to such transfer. Absent registration or another available exemption from registration,
        Subscriber agrees it will not resell the Securities (unless otherwise permitted pursuant to the Insider Letter, as described in the Registration Statement). Subscriber further acknowledges that because the Company is a shell company, Rule 144 may
        not be available to Subscriber for the resale of the Securities until the one year anniversary following consummation of the Business Combination of the Company, despite technical compliance with the requirements of Rule 144 and the release or
        waiver of any contractual transfer restrictions.

       

      2.5. Sophisticated Investor.

       

      (i) Subscriber is sophisticated in financial matters and is able to evaluate the risks and benefits of the investment in the Securities.

       

      (ii) Subscriber is aware that an investment in the Securities is highly speculative and subject to substantial risks because, among other things, the
        Securities are subject to transfer restrictions and have not been registered under the Securities Act and therefore cannot be sold unless subsequently registered under the Securities Act or an exemption from such registration is available.
        Subscriber is able to bear the economic risk of its investment in the Securities for an indefinite period of time.

       

      2.6. Independent Investigation. Subscriber, in making the decision to purchase the Units, has relied upon an independent investigation of the Company
        and has not relied upon any information or representations made by any third parties or upon any oral or written representations or assurances from the Company, its officers, directors or employees or any other representatives or agents of the
        Company, other than as set forth in this Agreement. Subscriber is familiar with the business, operations and financial condition of the Company and has had an opportunity to ask questions of, and receive answers from the Company's officers and
        directors concerning the Company and the terms and conditions of the offering of the Units and has had full access to such other information concerning the Company as Subscriber has requested. Subscriber confirms that all documents that it has
        requested have been made available and that Subscriber has been supplied with all of the additional information concerning this investment which Subscriber has requested.

       

      2.7 Organization and Authority. Subscriber is duly organized, validly existing and in good standing under the laws of the State of Delaware and it
        possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement.

       

      2.8. Authority. This Agreement has been validly authorized, executed and delivered by Subscriber and is a valid and binding agreement enforceable in
        accordance with its terms, subject to the general principles of equity and to bankruptcy or other laws affecting the enforcement of creditors' rights generally.

       

      2.9. No Conflicts. The execution, delivery and performance of this Agreement and the consummation by Subscriber of the transactions contemplated hereby
        do not violate, conflict with or constitute a default under (i) Subscriber's charter documents, (ii) any agreement or instrument to which Subscriber is a party or (iii) any law, statute, rule or regulation to which Subscriber is subject, or any
        agreement, order, judgment or decree to which Subscriber is subject.

       

      
        
          

      

      2.10. No Legal Advice from Company. Subscriber acknowledges it has had the opportunity to review this Agreement and the transactions contemplated by
        this Agreement and the other agreements entered into between the parties hereto with Subscriber's own legal counsel and investment and tax advisors. Except for any statements or representations of the Company made in this Agreement and the other
        agreements entered into between the parties hereto, Subscriber is relying solely on such counsel and advisors and not on any statements or representations of the Company or any of its representatives or agents for legal, tax or investment advice
        with respect to this investment, the transactions contemplated by this Agreement or the securities laws of any jurisdiction.

       

      2.11. Reliance on Representations and Warranties. Subscriber understands the Units are being offered and sold to Subscriber in reliance on exemptions
        from the registration requirements under the Securities Act, and analogous provisions in the laws and regulations of various states, and that the Company is relying upon the truth and accuracy of the representations, warranties, agreements,
        acknowledgments and understandings of Subscriber set forth in this Agreement in order to determine the applicability of such provisions.

       

      2.12. No General Solicitation. Subscriber is not subscribing for the Units as a result of or subsequent to any general solicitation or general
        advertising, including but not limited to any advertisement, article, notice or other communication published in any newspaper, magazine, or similar media or broadcast over television or radio, or presented at any seminar or meeting or in a
        registration statement with respect to the IPO filed with the Securities and Exchange Commission ("SEC").

       

      2.13. Legend. Subscriber acknowledges and agrees the certificates evidencing each of the Securities shall bear a restrictive legend (the "Legend"), in form and substance substantially as set forth in Section 4 hereof.

       

      3. Representations, Warranties and Covenants of the Company

       

      The Company represents and warrants to, and agrees with, Subscriber that:

       

      3.1. Valid Issuance of Capital Stock. The total number of shares of all classes of capital stock which the Company has authority to issue is
        271,000,000 shares of common stock, including 240,000,000 shares of Common Stock and 30,000,000 shares of Class B common stock, $0.0001 par value per share ("Class B
          Common Stock"), and 1,000,000 shares of preferred stock, $0.0001 par value per share ("Preferred Stock"). As of the date hereof, the Company has
        issued and outstanding 7,187,500 shares of Class B Common Stock (of which up to 937,500 shares are subject to forfeiture as described in the Registration Statement), no shares of Class A Common Stock and no shares of Preferred Stock. All of the
        issued shares of capital stock of the Company have been duly authorized, validly issued, and are fully paid and non-assessable.

       

      3.2 Title to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof and that certain warrant agreement to be entered
        into between the Company and Continental, as warrant agent (the "Warrant Agreement"), each of the Placement Shares and Warrant Shares will be duly and validly
        issued, fully paid and non-assessable. On the date of issuance of the Units, the Warrant Shares shall have been reserved for issuance. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, Subscriber
        will have or receive good title to the Units, Placement Shares and Placement Warrants, free and clear of all liens, claims and encumbrances of any kind, other than (i) transfer restrictions hereunder and pursuant to the Insider Letter and (ii)
        transfer restrictions under federal and state securities laws.

       

      3.3. Organization and Qualification. The Company is a corporation duly incorporated, validly existing and in good standing under the laws of the State
        of Delaware and has the requisite corporate power to own its properties and assets and to carry on its business as now being conducted.

       

      
        
          

      

      3.4. Authorization; Enforcement. (i) The Company has the requisite corporate power and authority to enter into and perform its obligations under this
        Agreement and to issue the Securities in accordance with the terms hereof, (ii) the execution, delivery and performance of this Agreement by the Company and the consummation by it of the transactions contemplated hereby have been duly authorized by
        all necessary corporate action, and no further consent or authorization of the Company or its Board of Directors or stockholders is required, (iii) this Agreement constitutes valid and binding obligations of the Company enforceable against the
        Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance, moratorium, reorganization, or similar laws relating to, or affecting generally the enforcement of,
        creditors' rights and remedies or by equitable principles of general application and except as enforcement of rights to indemnity and contribution may be limited by federal and state securities laws or principles of public policy, (iv) the Units,
        when issued and delivered in the manner set forth herein, will constitute valid and binding obligations of the Company enforceable against the Company in accordance with their terms, except as such enforceability may be limited by applicable
        bankruptcy, insolvency, fraudulent conveyance, moratorium, reorganization, or similar laws relating to, or affecting generally the enforcement of, creditors' rights and remedies or by equitable principles of general application and except as
        enforcement of rights to indemnity and contribution may be limited by federal and state securities laws or principles of public policy and (v) the Placement Warrants, when issued and delivered in the manner set forth herein, will constitute valid
        and binding obligations of the Company enforceable against the Company in accordance with their terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance, moratorium, reorganization, or similar
        laws relating to, or affecting generally the enforcement of, creditors' rights and remedies or by equitable principles of general application and except as enforcement of rights to indemnity and contribution may be limited by federal and state
        securities laws or principles of public policy.

       

      3.5. No Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions contemplated
        hereby do not (i) result in a violation of the Company's certificate of incorporation or by-laws, (ii) conflict with, or constitute a default under any agreement or instrument to which the Company is a party or (iii) any law, statute, rule or
        regulation to which the Company is subject or any agreement, order, judgment or decree to which the Company is subject. Other than any SEC or state securities filings which may be required to be made by the Company subsequent to the closing of the
        IPO, and any registration statement which may be filed pursuant thereto, the Company is not required under federal, state or local law, rule or regulation to obtain any consent, authorization or order of, or make any filing or registration with,
        any court or governmental agency or self-regulatory entity in order for it to perform any of its obligations under this Agreement or issue the Units, Placement Shares, Warrants or the Warrant Shares in accordance with the terms hereof.

       

      4. Legends

       

      4.1. Legend. The Company will issue the Units, Placement Shares and Warrants, and when issued, the Warrant Shares, purchased by Subscriber in the name
        of Subscriber. The Securities will bear the following Legend and appropriate "stop transfer" instructions:

       

      "THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"),
        OR ANY STATE SECURITIES LAWS AND NEITHER THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR SUCH LAWS OR AN
        EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL FOR THIS CORPORATION, IS AVAILABLE."

       

      "THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO LOCKUP PURSUANT TO AN INSIDER LETTER BETWEEN, AMONG OTHERS, CF
        ACQUISITION CORP. V AND CFAC HOLDINGS V, LLC AND MAY ONLY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE TERM OF THE LOCKUP PURSUANT TO THE TERMS SET FORTH IN THE INSIDER LETTER."

       

      4.2. Subscriber's Compliance. Nothing in this Section 4 shall affect in any way Subscriber's obligations and agreements to comply with all applicable
        securities laws upon resale of the Securities.

       

      4.3. Company's Refusal to Register Transfer of the Securities. The Company shall refuse to register any transfer of the Securities, if in the sole
        judgment of the Company such purported transfer would not be made (i) pursuant to an effective registration statement filed under the Securities Act, or pursuant to an available exemption from the registration requirements of the Securities Act and
        (ii) in compliance herewith and with the Insider Letter.

       

      4.4 Registration Rights. Subscriber will be entitled to certain registration rights which will be governed by a registration rights agreement ("Registration Rights Agreement") to be entered into between, among others, Subscriber and the Company, on or prior to the effective date of the Registration
        Statement.

       

      
        
          

      

      5. Waiver of Liquidation Distributions.

       

      In connection with the Securities purchased pursuant to this Agreement, Subscriber hereby waives any and all right, title, interest or claim of any
        kind in or to any distributions of the amounts in the Trust Account with respect to the Securities, whether (i) in connection with the exercise of redemption rights if the Company consummates the Business Combination, (ii) in connection with any
        tender offer conducted by the Company prior to a Business Combination, (iii) upon the Company's redemption of shares of Common Stock sold in the Company's IPO upon the Company's failure to timely complete the Business Combination or (iv) in
        connection with a stockholder vote to approve an amendment to the Company's amended and restated certificate of incorporation (A) to modify the substance or timing of the Company's obligation to allow redemption in connection with the Business
        Combination or to redeem 100% of the Company's public shares if the Company does not timely complete the Business Combination or (B) with respect to any other provision relating to stockholders' rights or pre-Business Combination activity. In the
        event Subscriber purchases shares of Common Stock in the IPO or in the aftermarket, any additional shares so purchased shall be eligible to receive the redemption value of such shares of Common Stock upon the same terms offered to all other
        purchasers of Common Stock in the IPO in the event the Company fails to consummate the Business Combination.

       

      6. Terms of Placement Warrants.

       

      6.1 Terms. Each Placement Warrant shall have the terms set forth in the Warrant Agreement. Specifically, the Placement Warrants will not be exercisable
        more than five years from the effective date of the Registration Statement in accordance with FINRA Rule 5110.

       

      6.2. Failure to Consummate Business Combination. The Placement Warrants shall be terminated upon the dissolution of the Company or in the event that
        the Company does not consummate the Business Combination within 24 months from the consummation of the IPO, unless otherwise extended by the Company.

       

      6.3. Termination of Rights as Holder. If the Placement Warrants are terminated in accordance with Section 6.1, then after such time Subscriber (or its
        successor in interest) shall no longer have any rights as a holder of such Placement Warrants and the Company shall take such action as is appropriate to cancel such Placement Warrants. Subscriber hereby irrevocably grants the Company a limited
        power of attorney for the purpose of effectuating the foregoing and agrees to take any and all measures reasonably requested by the Company necessary to effect the foregoing.

       

      7. Rescission Right Waiver and Indemnification.

       

      7.1. Subscriber understands and acknowledges an exemption from the registration requirements of the Securities Act requires there be no general
        solicitation of purchasers of the Units. In this regard, if the IPO were deemed to be a general solicitation with respect to the Units, the offer and sale of such Units may not be exempt from registration and, if not, Subscriber may have a right to
        rescind its purchase of the Units. In order to facilitate the completion of the Offering and in order to protect the Company, its stockholders and the amounts in the Trust Account from claims that may adversely affect the Company or the interests
        of its stockholders, Subscriber hereby agrees to waive, to the maximum extent permitted by applicable law, any claims, right to sue or rights in law or arbitration, as the case may be, to seek rescission of its purchase of the Units. Subscriber
        acknowledges and agrees this waiver is being made in order to induce the Company to sell the Units to Subscriber. Subscriber agrees the foregoing waiver of rescission rights shall apply to any and all known or unknown actions, causes of action,
        suits, claims or proceedings (collectively, "Claims") and related losses, costs, penalties, fees, liabilities and damages, whether compensatory, consequential
        or exemplary, and expenses in connection therewith, including reasonable attorneys' and expert witness fees and disbursements and all other expenses reasonably incurred in investigating, preparing or defending against any Claims, whether pending or
        threatened, in connection with any present or future actual or asserted right to rescind the purchase of the Units hereunder or relating to the purchase of the Units and the transactions contemplated hereby.

       

      7.2. Subscriber agrees not to seek recourse against the Trust Account for any reason whatsoever in connection with its purchase of the Units or any
        Claim that may arise now or in the future.

       

      7.3. Subscriber acknowledges and agrees that the stockholders of the Company are and shall be third-party beneficiaries of this Section 7.

       

      7.4. Subscriber agrees that to the extent any waiver of rights under this Section 7 is ineffective as a matter of law, Subscriber has offered such
        waiver for the benefit of the Company as an equitable right that shall survive any statutory disqualification or bar that applies to a legal right. Subscriber acknowledges the receipt and sufficiency of consideration received from the Company
        hereunder in this regard.

       

      
        
          

      

      8. Terms of the Units and Placement Warrants

       

      8.1 The Units and their component parts are substantially identical to the units to be offered in the IPO except that: (i) the Units and component
        parts will be subject to transfer restrictions, except in limited circumstances, until 30 days following the consummation of the Business Combination, (ii) the Placement Warrants will be non-redeemable so long as they are held by Subscriber (or any
        of its permitted transferees), and may be exercisable on a "cashless" basis if held by Subscriber or its permitted transferees, as further described in the Warrant Agreement, and (iii) the Units and component parts are being purchased pursuant to
        an exemption from the registration requirements of the Securities Act and will become freely tradable only after the expiration of the lockup described above in clause (i) and they are registered pursuant to the Registration Rights Agreement to be
        signed by, among others, the Company and Subscriber on or before the date of the prospectus for the IPO or an exemption from registration is available, and the restrictions described above in clause (i) have expired. Additionally, the Subscriber
        acknowledges and agrees that the Units and their component parts will be deemed underwriting compensation by the Financial Industry Regulatory Authority ("FINRA")
        and, pursuant to FINRA Rule 5110(e)(1), may not be sold during the offering, or transferred, assigned, pledged or hypothecated or be the subject of any hedging, short sale, derivative, put or call transaction that would result in the economic
        disposition of the securities for a period of 180 days immediately following the date of effectiveness or commencement of sales in the IPO, except as provided in FINRA Rule 5110(e)(2).

       

      8.2 Subscriber agrees to vote the Placement Shares in accordance with the terms of the Insider Letter and as otherwise described in the Registration
        Statement.

       

      9. Governing Law; Jurisdiction; Waiver of Jury Trial

       

      This Agreement shall be governed by and construed in accordance with the laws of the State of New York for agreements made and to be wholly performed
        within such state, without regards to the conflicts of laws principles thereof. Any suit brought by either party shall be brought in the state or federal courts sitting in New York County in the State of New York. The parties hereto hereby waive
        any right to a jury trial in connection with any litigation pursuant to this Agreement and the transactions contemplated hereby.

       

      10. Assignment; Entire Agreement; Amendment

       

      10.1. Assignment. Neither this Agreement nor any rights hereunder may be assigned, in whole or in part, by any party to any other person without the
        prior written consent of the other party hereto except that Subscriber may assign this Agreement, or any of its rights hereunder, to a person agreeing to be bound by the terms hereof, including the waiver contained in Section 7 hereof.

       

      10.2. Entire Agreement. This Agreement sets forth the entire agreement and understanding between the parties as to the subject matter thereof and
        merges and supersedes all prior discussions, agreements and understandings of any and every nature among them with respect to such subject matter.

       

      10.3. Amendment. Except as expressly provided in this Agreement, neither this Agreement nor any term hereof may be amended, waived, discharged or
        terminated other than by a written instrument signed by the party against whom enforcement of any such amendment, waiver, discharge or termination is sought.

       

      10.4. Binding upon Successors. This Agreement shall be binding upon and inure to the benefit of the parties hereto and to their respective successors
        and permitted assigns.

       

      11. Notices

       

      Unless otherwise provided herein, any notice or other communication to a party hereunder shall be sufficiently given if in writing and personally
        delivered or sent by facsimile or other electronic transmission with copy sent in another manner herein provided or sent by courier (which for all purposes of this Agreement shall include Federal Express or other recognized overnight courier) or
        mailed to said party by certified mail, return receipt requested, at its address provided for herein or such other address as either may designate for itself in such notice to the other. Communications shall be deemed to have been received when
        delivered personally, on the scheduled arrival date when sent by next day or 2nd-day courier service, or if sent by facsimile upon receipt of confirmation of transmittal or, if sent by mail, then three days after deposit in the mail. If given by
        electronic transmission, such notice shall be deemed to be delivered when directed to an electronic mail address at which such party has consented to receive notice.

       

      
        
          

      

      12. Counterparts

       

      This Agreement may be executed in one or more counterparts, all of which when taken together shall be considered one and the same agreement and shall
        become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission or
        by e-mail delivery of a "pdf" format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or ".pdf"
        signature page were an original thereof.

       

      13. Survival; Severability

       

      13.1. Survival. The representations, warranties, covenants and agreements of the parties hereto shall survive the Closing.

       

      13.2. Severability. In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal,
        unenforceable or void, this Agreement shall continue in full force and effect without said provision; provided that no such severability shall be effective if it materially changes the economic benefit of this Agreement to any party.

       

      14. Headings.

       

      The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this
        Agreement.

       

      [signature page follows]

       

      
        
          

      

      This subscription is accepted by the Company on the day of January
          28, 2021.

       

      	 	
              CF ACQUISITION CORP. V

            
	 	 	 
	 	
              By:

            	
              /s/ Howard W. Lutnick

            
	 	 	
              Name: Howard W. Lutnick

            
	 	 	
              Title: Chairman and Chief Executive Officer

            

      

      

      Accepted and agreed on the date set forth above.

      

      

      	 	
              CFAC HOLDINGS V, LLC

            
	 	 	 
	 	
              By:

            	
              /s/ Howard W. Lutnick

            
	 	 	
              Name: Howard W. Lutnick

            
	 	 	
              Title: Chief Executive Officer

            

      

      

      [Signature Page to Private Placement Units Subscription Agreement - CF Acquisition Corp. V]

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