Document:

Exhibit 10.1

 

December
7, 2020

 

Concord
Acquisition Corp

477
Madison Avenue

New York, NY 10022

 

		Re:	Initial
Public Offering

 

Ladies
and Gentlemen:

 

This
letter (this “Letter Agreement”) is being delivered to you in accordance with the Underwriting Agreement
(the “Underwriting Agreement”) by and between Concord Acquisition Corp, a Delaware corporation (the
“Company”), and Cowen and Company, LLC, as the representative (the “Representative”)
of the several underwriters named therein (each an “Underwriter” and collectively, the “Underwriters”),
relating to an underwritten initial public offering (the “Public Offering”), of up to 27,600,000 of
the Company’s units (including up to 3,600,000 units that may be purchased to cover the Underwriters’ option to purchase
additional units, if any) (the “Units”), each comprised of one share of Class A common stock of
the Company, par value $0.0001 per share (“Class A Common Stock”), and one-half of one redeemable
warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one
share of Class A Common Stock at a price of $11.50 per share, subject to adjustment. The Units will be sold in the Public
Offering pursuant to a registration statement on Form S-1 and prospectus (the “Prospectus”) filed by
the Company with the Securities and Exchange Commission (the “Commission”). Certain capitalized terms
used herein are defined in paragraph 11 hereof.

 

In
order to induce the Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the Public Offering
and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Concord Sponsor Group
LLC, a Delaware limited liability company (the “Sponsor”), CA Co-Investment LLC, a Delaware limited
liability company (“Cowen Investments” and together with the Sponsor, the “Holders”),
and the other undersigned persons (each such other undersigned persons, an “Insider” and collectively,
the “Insiders”), each hereby agrees, severally but not jointly, with the Company as follows:

 

1.
The Sponsor, Cowen Investments and each Insider agree that if the Company seeks stockholder approval of a proposed Business Combination,
then in connection with such proposed Business Combination, it, he or she shall (i) vote any Shares owned by it, him or her
in favor of any proposed Business Combination (including any proposals recommended by the Company’s Board of Directors in
connection with such Business Combination) and (ii) not redeem any Shares owned by it, him or her in connection with such
stockholder approval. If the Company seeks to consummate a proposed Business Combination by engaging in a tender offer, the Sponsor,
Cowen Investment and each Insider agrees that it, he or she will not sell or tender any Shares owned by it, him or her in connection
therewith.

 

2.
The Sponsor, Cowen Investments and each Insider hereby agrees that in the event that the Company fails to consummate a Business
Combination within 18 months from the closing of the Public Offering (or 24 months from the closing of the Public Offering if
the Company extends the period of time to consummate a Business Combination, as described in more detail in the prospectus), or
such later period approved by the Company’s stockholders in accordance with the Company’s amended and restated certificate
of incorporation, the Sponsor, Cowen Investments and each Insider shall take all reasonable steps to cause the Company to (i)
cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than 10 business
days thereafter, subject to lawfully available funds therefor, redeem 100% of the shares of Class A Common Stock sold as part
of the Units in the Public Offering (the “Offering Shares”), at a per share price, payable in cash,
equal to the aggregate amount then on deposit in the Trust Account, including interest (which interest shall be net of taxes payable
and less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Offering Shares, which
redemption will completely extinguish all Public Stockholders’ rights as stockholders (including the right to receive further
liquidating distributions, if any) and (iii) as promptly as reasonably possible following such redemption, subject to the approval
of the Company’s remaining stockholders and the Company’s board of directors, dissolve and liquidate, subject in each
case to the Company’s obligations under Delaware law to provide for claims of creditors and the other requirements of applicable
law. The Sponsor, Cowen Investments and each Insider agree to not propose any 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 Company’s initial Business Combination or to redeem 100% of the Offering Shares if the Company does not complete
its initial Business Combination within 18 months from the closing of the Public Offering (or 24 months from the closing of the
Public Offering if the Company extends the period of time to consummate a Business Combination) or (B) with respect to any other
provision relating to stockholders’ rights or pre-initial Business Combination activity, unless the Company provides its
Public Stockholders with the opportunity to redeem their Offering Shares upon approval of any such amendment at a per share price,
payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest (which interest shall
be net of taxes payable), divided by the number of then outstanding Offering Shares.

 

     

     

    

 

The
Sponsor, Cowen Investments and each Insider acknowledge that it, he or she has no right, title, interest or claim of any kind
in or to any monies held in the Trust Account or any other asset of the Company as a result of any liquidation of the Company
with respect to the Founder Shares and Private Placement Shares held by it. The Sponsor, Cowen Investments and each Insider hereby
further waive, with respect to any Shares held by it, him or her, if any, any redemption rights it, he or she may have in connection
with (x) the consummation of a Business Combination, including, without limitation, any such rights available in the context of
a stockholder vote to approve such Business Combination or in the context of a tender offer made by the Company to purchase shares
of Class A Common Stock and (y) 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 redemptions in connection with
the Company’s initial Business Combination or to redeem 100% of the Offering Shares if the Company has not consummated its
initial Business Combination within 18 months from the closing of the Public Offering (or 24 months from the closing of the Public
Offering if the Company extends the period of time to consummate a Business Combination) or (B) with respect to any other provision
relating to stockholders’ rights or pre-initial Business Combination activity (although the Sponsor and the Insiders shall
be entitled to redemption and liquidation rights with respect to any Offering Shares it or they hold if the Company fails to consummate
a Business Combination within 18 months from the date of the closing of the Public Offering (or 24 months from the closing of
the Public Offering if the Company extends the period of time to consummate a Business Combination)).

 

3.
Without limiting Cowen Investments’ obligations under paragraph 7 hereof, during the period commencing on the date of commencement
of sales of the Public Offering and ending 180 days after such date, Cowen Investments shall not sell, transfer, assign, pledge
or hypothecate any of its Founder Shares or Private Placement Units (or any securities underlying the Private Placement Units,
including the Private Placement Shares and Private Placement Warrants and the shares of Class A Common Stock underlying the Private
Placement Warrants), or subject any of such securities to any hedging, short sale, derivative, put, or call transaction that would
result in the effective economic disposition of such securities, except as provided in FINRA Rule 5110(e)(1), which such restrictions
shall not be subject to release or waiver, with or without the consent of the Representative, during the period commencing on
the date of commencement of sales of the Public Offering and ending 180 days after such date. Notwithstanding the provisions set
forth in paragraphs 7(a) and (b) below, during the period commencing on the date of commencement of sales of the Public Offering
and ending 180 days after such date, the Sponsor, Cowen Investments and each Insider shall not, without the prior written consent
of the Representative, (i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option
or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly,
or file with, or submit to, the Commission a registration statement under the Securities Act of 1933, as amended (the “Securities
Act”), relating to any Units, shares of Class A Common Stock, Founder Shares, Warrants or any securities convertible
into, or exercisable, or exchangeable for, any Units, shares of Class A Common Stock, Founder Shares, or Warrants, or publicly
disclose the intention to undertake any of the foregoing, or (ii) enter into any swap or other arrangement that transfers, in
whole or in part, any of the economic consequences of ownership of any Units, shares of Class A Common Stock, Founder Shares,
or Warrants or any such other securities, whether any such transaction described in clause (i) or (ii) above is to be settled
by delivery of units or such other securities, in cash or otherwise; provided, however, that the foregoing does
not apply to the forfeiture of any Founder Shares pursuant to their terms or any transfer of Founder Shares to any current or
future independent director of the company (as long as such current or future independent director transferee is subject to this
Letter Agreement or executes an agreement substantially identical to the terms of this Letter Agreement, as applicable to directors
and officers at the time of such transfer; and as long as, to the extent any Section 16 reporting obligation is triggered as a
result of such transfer, any related Section 16 filing includes a practical explanation as to the nature of the transfer). Each
of the Insiders and the Sponsor acknowledges and agrees that, prior to the effective date of any release or waiver, of the restrictions
set forth in this paragraph 3 or paragraph 7 below, the Company may announce the impending release or waiver by press release
through a major news service at least two business days before the effective date of the release or waiver. The provisions of
this paragraph will not apply if (i) the release or waiver is effected solely to permit a transfer of securities that is not for
consideration and (ii) the transferee has agreed in writing to be bound by the same terms described in this Letter Agreement to
the extent and for the duration that such terms remain in effect at the time of the transfer.

 

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4.
In the event of the liquidation of the Trust Account, the Sponsor (which for purposes of clarification shall not extend to any
other stockholders, members or managers of the Sponsor) agrees to indemnify and hold harmless the Company against any and all
loss, liability, claim, damage and expense whatsoever (including, but not limited to, any and all legal or other expenses reasonably
incurred in investigating, preparing or defending against any litigation, whether pending or threatened, or any claim whatsoever)
to which the Company may become subject as a result of any claim by (i) any third party (other than the Company’s independent
registered public accounting firm) for services rendered or products sold to the Company or (ii) a prospective target business
with which the Company has discussed entering into a transaction agreement (a “Target”); provided,
however, that such indemnification of the Company by the Sponsor shall apply only to the extent necessary to ensure that
such claims by a third party for services rendered (other than the Company’s independent registered public accounting firm)
or products sold to the Company or a Target do not reduce the amount of funds in the Trust Account to below (i) $10.00 per
Offering Share or (ii) such lesser amount per Offering Share held in the Trust Account as of the date of the liquidation of the
Trust Account due to reductions in the value of the trust assets as of the date of the liquidation of the Trust Account, in each
case, net of the amount of interest which may be withdrawn to pay taxes, except as to any claims by a third party who executed
a waiver of any and all rights to seek access to the Trust Account and except as to any claims under the Company’s indemnity
of the Underwriters against certain liabilities, including liabilities under the Securities Act of 1933, as amended. In the event
that any such executed waiver is deemed to be unenforceable against such third party, the Sponsor shall not be responsible to
the extent of any liability for such third party claims. The Sponsor shall have the right to defend against any such claim with
counsel of its choice reasonably satisfactory to the Company if, within 15 days following written receipt of notice of the claim
to the Sponsor, the Sponsor notifies the Company in writing that it shall undertake such defense.

 

5.
(a) To the extent that the Underwriters do not exercise their option to purchase up to an additional 3,600,000 Units within 45
days from the date of the Prospectus (and as further described in the Prospectus), (x) the Sponsor agrees that it shall forfeit,
at no cost, a number of Founder Shares in the aggregate equal to 720,000 multiplied by a fraction, (i) the numerator of which
is 3,600,000 minus the number of Units purchased by the Underwriters upon the exercise of their option to purchase additional
Units and (ii) the denominator of which is 3,600,000 and (y) Cowen Investments agrees that it shall forfeit, at no cost, a number
of Founder Shares in the aggregate equal to 180,000 multiplied by a fraction, (i) the numerator of which is 3,600,000 minus the
number of Units purchased by the Underwriters upon the exercise of their option to purchase additional Units and (ii) the denominator
of which is 3,600,000. All references in this Letter Agreement to Founder Shares of the Company being forfeited shall take effect
as a contribution of such Founder Shares to the Company’s capital as a matter of Delaware law. The forfeiture will be adjusted
to the extent that the option to purchase additional Units is not exercised in full by the Underwriters so that the number of
Founder Shares will equal an aggregate of 20.0% of the Company’s issued and outstanding Shares after the Public Offering
(not including the Private Placement Shares). The Initial Stockholders further agree that to the extent that the size of the Public
Offering is increased or decreased, the Company will effect a capitalization or stock repurchase or redemption, as applicable,
immediately prior to the consummation of the Public Offering in such amount as to maintain the number of Founder Shares at 20.0%
of the Company’s issued and outstanding Shares upon the consummation of the Public Offering (not including the Private Placement
Shares). In connection with such increase or decrease in the size of the Public Offering, then (A) the references to 3,600,000
in the numerator and denominator of the formula in the first sentence of this paragraph shall be changed to a number equal to
15.0% of the number of shares of Class A Common Stock included in the Units issued in the Public Offering, (B) the reference to
720,000 and 180,000 in the formula set forth in the first sentence of this paragraph shall be adjusted to, respectively, the total
number of Founder Shares that the Sponsor would have to return to the Company in order for the number of Founder Shares that the
Sponsor owns (together with the Insiders) to equal an aggregate of 16.0% of the Company’s issued and outstanding Shares
after the Public Offering (not including the Private Placement Shares) and the total number of Founder Shares that Cowen Investments
would have to return to the Company in order for the number of Founder Shares that Cowen Investments owns to equal an aggregate
of 4.0% of the Company’s issued and outstanding Shares after the Public Offering (not including the Private Placement Shares).

 

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(b)
If, in connection with the closing of a Business Combination, the Sponsor agrees to forfeit any Founder Shares or Private Placement
Units (or any securities underlying the Private Placement Units) to the Company at no cost or subject its Founder Shares or Private
Placement Units (or any securities underlying the Private Placement Units) to contractual terms or restrictions, convert its Founder
Shares into other securities or contractual rights or otherwise modify the terms of its Founder Shares or Private Placement Units
(each a “Sponsor Modification”), then Cowen Investments agrees to forfeit, subject, convert or modify
its Founder Shares or Private Placement Units (or any securities underlying the Private Placement Units) on a pro rata basis and
on the same terms as the Sponsor, and hereby grants to the Company and any representative designated by the Company without further
action by Cowen Investments a limited irrevocable power of attorney to effect such forfeiture or Sponsor Modification on behalf
of Cowen Investments, which power of attorney shall be deemed to be coupled with an interest.

 

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

 

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

 

(b)
The Sponsor, Cowen Investments and each Insider agree that it, he or she shall not Transfer any Private Placement Units, including
the Private Placement Shares and one-half of one redeemable warrant (“Private Placement Warrants”) included
therein or any shares of Class A Common Stock issued or issuable upon the conversion or exercise of the Private Placement Warrants,
until 30 days after the completion of a Business Combination (the “Private Placement Units Lock-Up Period”,
together with the Founder Shares Lock-Up Period, the “Lock-Up Periods”).

  

(c)
Notwithstanding the provisions set forth in paragraphs 7(a) and (b), Transfers of the Founder Shares, Private Placement Units,
Private Placement Shares, Private Placement Warrants and shares of Class A Common Stock issued or issuable upon the exercise or
conversion of the Private Placement Warrants or the Founder Shares and that are held by the Sponsor, Cowen Investments or any
Insider or any of their permitted transferees (that have complied with this paragraph 7(c)), are permitted (a) to the Company’s
officers or directors, any affiliates or family members of any of the Company’s officers or directors, any members of the
Holders, or any affiliates of the Holders, (b) in the case of an individual, by gift to a member of the individual’s immediate
family or to a trust, the beneficiary of which is a member of the individual’s immediate family or an affiliate of such
person, or to a charitable organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon
death of the individual; (d) in the case of an individual, pursuant to a qualified domestic relations order; (e) by private sales
or transfers made in connection with the consummation of the Company’s Business Combination at prices no greater than the
price at which the securities were originally purchased; (f) in the event of the Company’s liquidation prior to the Company’s
completion of an initial Business Combination; (g) by virtue of the laws of the State of Delaware or the Sponsor’s limited
liability company agreement, as amended, upon dissolution of the Sponsor; or (h) in the event of the Company’s completion
of a liquidation, merger, stock exchange, reorganization or other similar transaction which results in all of the Public Stockholders
having the right to exchange their Class A Common Stock for cash, securities or other property subsequent to the Company’s
completion of an initial Business Combination; provided, however, that in the case of clauses (a) through (e), these
permitted transferees must enter into a written agreement with the Company agreeing to be bound by the transfer restrictions and
other applicable restrictions in this Letter Agreement.

 

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8.
The Sponsor, Cowen Investments and each Insider represent and warrant that it, he or she has never been suspended or expelled
from membership in any securities or commodities exchange or association or had a securities or commodities license or registration
denied, suspended or revoked. Each Insider’s biographical information furnished to the Company, if any (including any such
information included in the Prospectus), is true and accurate in all respects and does not omit any material information with
respect to such Insider’s background. The Sponsor, Cowen Investments and each Insider’s questionnaire furnished to
the Company, if any, is true and accurate in all respects. The Sponsor, Cowen Investments and each Insider represent and warrant
that: it is not subject to or a respondent in any legal action for, any injunction, cease-and-desist order or order or stipulation
to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction; it has never been convicted
of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any financial transaction or handling of funds of another
person, or (iii) pertaining to any dealings in any securities and it is not currently a defendant in any such criminal proceeding.

 

9.
Except as disclosed in, or as expressly contemplated by, the Prospectus, neither the Sponsor, Cowen Investments nor any Insider
nor any affiliate of the Sponsor, Cowen Investments or any Insider, nor any director or officer of the Company, shall receive
from the Company any finder’s fee, reimbursement, consulting fee, monies in respect of any repayment of a loan or other
compensation prior to, or in connection with any services rendered in order to effectuate the consummation of the Company’s
initial Business Combination (regardless of the type of transaction that it is).

 

10.
The Sponsor, Cowen Investments and each Insider have full right and power, without violating any agreement to which it is bound
(including, without limitation, any non-competition or non-solicitation agreement with any employer or former employer), to enter
into this Letter Agreement and, as applicable, to serve as an officer and/or a director on the board of directors of the Company
and hereby consents to being named in the Prospectus as an officer and/or a director of the Company.

 

11.
As used herein, (i) “Business Combination” shall mean a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination, involving the Company and one or more businesses; (ii) “Shares”
shall mean, collectively, the Class A Common Stock, the Founder Shares, Private Placement Shares, and Class A Common Stock underlying
the Private Placement Warrants; (iii) “Founder Shares” shall mean the 6,900,000 shares of Class B
common stock, par value $0.0001 per share, issued and outstanding immediately prior to the consummation of the Public Offering
(up to 900,000 shares of which are subject to complete or partial forfeiture by the Holders to the extent the over-allotment option
is not exercised by the Underwriters); (iv) “Initial Stockholders” shall mean the Sponsor, Cowen
Investments and any Insider that holds Founder Shares; (v) “Private Placement Shares” shall mean the
680,000 shares of Class A Common Stock underlying the Private Placement Units (or 752,000 shares of Class A Common Stock if the
over-allotment option is exercised in full); (vi) “Private Placement Units” shall mean the 680,000
units of the Company (or 752,000 units if the over-allotment option is exercised in full) that the Holders have agreed to purchase
for an aggregate purchase price of $6,800,000 in the aggregate (or $7,520,000 if the over-allotment option is exercised in full),
or $10.00 per unit, in a private placement that shall occur substantially concurrently with the consummation of the Public Offering;
(vii) “Public Stockholders” shall mean the holders of securities issued in the Public Offering;
(viii) “Trust Account” shall mean the trust fund into which a portion of the net proceeds of the
Public Offering shall be deposited; and (ix) “Transfer” shall mean the (a) sale or assignment
of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase or otherwise dispose of
or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation with
respect to or decrease of a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934,
as amended, and the rules and regulations of the Commission promulgated thereunder with respect to, any security, (b) entry
into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership
of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (c) public
announcement of any intention to effect any transaction specified in clause (a) or (b) herein.

 

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12.
This Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter
hereof and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral,
to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement
may not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision,
except by a written instrument executed by (1) each Insider and each Holder that is the subject of any such change, amendment
modification or waiver and (2) the Company.

  

13.
No party hereto may assign either this Letter Agreement or any of its rights, interests, or obligations hereunder without the
prior written consent of the other parties. Any purported assignment in violation of this paragraph shall be void and ineffectual
and shall not operate to transfer or assign any interest or title to the purported assignee. This Letter Agreement shall be binding
on the Sponsor, Cowen Investments and each Insider and their respective successors, heirs and assigns and permitted transferees.

 

14.
Nothing in this Letter Agreement shall be construed to confer upon, or give to, any person or corporation other than the parties
hereto any right, remedy or claim under or by reason of this Letter Agreement or of any covenant, condition, stipulation, promise
or agreement hereof. All covenants, conditions, stipulations, promises and agreements contained in this Letter Agreement shall
be for the sole and exclusive benefit of the parties hereto and their successors, heirs, personal representatives and assigns
and permitted transferees; provided, however, that the Underwriters shall benefit from the provisions set forth
in paragraph 3, which such paragraphs shall not be amended or modified without the written consent of the Representative.

 

15.
This Letter Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall
for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

16.
This Letter Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall
not affect the validity or enforceability of this Letter Agreement or of any other term or provision hereof. Furthermore, in lieu
of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this
Letter Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and
enforceable.

 

17.
This Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York. The
parties hereto (i) all agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Letter
Agreement shall be brought and enforced in the courts of New York City, in the State of New York, and irrevocably submit to such
jurisdiction and venue, which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction
and venue or that such courts represent an inconvenient forum.

 

18.
Any notice, consent or request to be given in connection with any of the terms or provisions of this Letter Agreement shall be
in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested),
by hand delivery or facsimile or other electronic transmission.

 

19.
Each party hereto shall not be liable for any breaches or misrepresentations contained in this Letter Agreement by any other party
to this Letter Agreement, and no party shall be liable or responsible for the obligations of another party, including, without
limitation, indemnification obligations and notice obligations.

 

20.
This Letter Agreement shall terminate on the earlier of (i) the expiration of the Lock-Up Periods and (ii) the liquidation of
the Company; provided, however, that this Letter Agreement shall earlier terminate in the event that the Public
Offering is not consummated and closed by December 31, 2020; provided further that paragraph 4 of this Letter Agreement
shall survive such liquidation.

 

[Signature
page follows]

 

    6

     

    

 

	 	Sincerely,
	 	 	 
	 	Concord
    Sponsor Group LLC
	 	 	 
	 	By:	/s/
    Michele Cito
	 	 	Name:  	/s/
    Michele Cito
	 	 	Title:
    	Authorized
    Signatory 
	 	 	 
	 	CA
    Co Investment LLC
	 	 	 
	 	By:	/s/
Owen Littman
	 	 	Name:	Owen Littman
	 	 	Title:
    	Authorized
    Signatory 

 

	 	/s/
    Bob Diamond
	 	 
	 	 
	 	/s/
    Jeff Tuder
	 	 
	 	 
	 	/s/
    Michele Cito
	 	 
	 	 
	 	/s/
    David Schamis
	 	 
	 	 
	 	/s/
    Peter Ort
	 	 
	 	 
	 	/s/
    Thomas King
	 	 
	 	 
	 	/s/
Larry Leibowitz

 

     

     

    

  

	Acknowledged
    and Agreed: 	 
	 	 	 
	Concord
    Acquisition Corp	 
	 	 	 
	By:	/s/
Jeff Tuder	 
	Name:  	Jeff
    Tuder	 
	Title:	Chief
    Executive OfficerExhibit
10.2

 

INVESTMENT
MANAGEMENT TRUST AGREEMENT

 

This
Investment Management Trust Agreement (this “Agreement”) is made effective as of December 7, 2020, by
and between Concord Acquisition Corp, a Delaware corporation (the “Company”), and Continental Stock
Transfer & Trust Company, a New York limited purpose trust company (the “Trustee”).

 

WHEREAS,
the Company’s registration statement on Form S-1, File No. 333-249654 (the “Registration Statement”)
and prospectus (the “Prospectus”) for the initial public offering of the Company’s units (the
“Units”), each of which consists of one share of the Company’s Class A common stock, par value
$0.0001 per share (the “Common Stock”), and one-half of one redeemable warrant, each whole warrant entitling
the holder thereof to purchase one share of Common Stock (such initial public offering hereinafter referred to as the “Offering”),
has been declared effective as of the date hereof (the “Effective Date”) by the U.S. Securities and
Exchange Commission (capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Registration
Statement);

 

WHEREAS,
the Company has entered into an Underwriting Agreement (the “Underwriting Agreement”) with Cowen and
Company, LLC, as representative (the “Representative”) of the several underwriters (the “Underwriters”)
named therein;

 

WHEREAS,
as described in the Prospectus, and in accordance with the Company’s amended and restated certificate of incorporation,
as the same may be amended from time to time (the “Charter”), $240,000,000 of the proceeds of the Offering
and sale of the Private Placement Units (as defined in the Underwriting Agreement) (or $276,000,000, if the Underwriters’
over-allotment option is exercised in full) will be delivered to the Trustee to be deposited and held in a segregated trust account
located at all times in the United States (the “Trust Account”) for the benefit of the Company and the
holders of the Common Stock included in the Units issued in the Offering as hereinafter provided (the amount to be delivered to
the Trustee (and any interest subsequently earned thereon) is referred to herein as the “Property,”
the stockholders for whose benefit the Trustee shall hold the Property will be referred to as the “Public Stockholders,”
and the Public Stockholders and the Company will be referred to together as the “Beneficiaries”);

 

WHEREAS,
the Company has entered into that certain Business Combination Marketing Agreement, dated as of [●], 2020, with the Representative,
pursuant to which the Company will pay the Representative a cash fee (the “Marketing Fee”) for certain
advisory services upon the consummation of the Company’s initial Business Combination (as defined below) in an amount equal
to, in the aggregate, 3.5% of the gross proceeds of the Offering, including any proceeds from the full or partial exercise of
the Underwriters’ over-allotment option; and

 

WHEREAS,
the Company and the Trustee desire to enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee
shall hold the Property.

 

NOW
THEREFORE, IT IS AGREED:

 

1. Agreements
and Covenants of Trustee. The Trustee hereby agrees and covenants to:

 

(a) Hold
the Property in trust for the Beneficiaries in accordance with the terms of this Agreement in the Trust Account established by
the Trustee in the United States at J.P. Morgan Chase Bank, N.A., (or at another U.S.-chartered commercial bank with consolidated
assets of $100 billion or more) in the United States, maintained by the Trustee 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 solely in United States government
securities within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended, having a maturity of
185 days or less, or in money market funds meeting the conditions of paragraphs (d)(1), (d)(2), (d)(3) and (d)(4) of Rule 2a-7
promulgated under the Investment Company Act of 1940, as amended (or any successor rule), which invest only in direct U.S. government
treasury obligations, as determined by the Company; the trustee may not invest in any other securities or assets, it being understood
that the Trust Account will earn no interest while account funds are uninvested awaiting the Company’s instructions hereunder
and the Trustee may earn bank credits or other consideration during such periods;

 

     

     

    

 

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

 

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

 

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

 

(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 the Chief Executive Officer, Chief Financial Officer,
President, Executive Vice President, Vice President, Secretary or Chairman of the board of directors of the Company (the “Board”)
or other authorized officer of the Company, and, in the case of Exhibit A, acknowledged and agreed to by the Representative, and
complete the liquidation of the Trust Account and distribute the Property in the Trust Account, including interest (which interest
shall be net of taxes payable, and less up to $100,000 of interest that may be released to the Company to pay dissolution expenses),
only as directed in the Termination Letter and the other documents referred to therein, or (y) upon the date which is, the later
of (1) 18 months after the closing of the Offering (or 24 months after the closing of the Offering if the Company extends the
period of time to consummate the initial business combination, as described in the Prospectus) and (2) such later date as may
be approved by the Company’s stockholders in accordance with the Charter if a Termination Letter has not been received by
the Trustee prior to such date, in which case the Trust Account shall be liquidated in accordance with the procedures set forth
in the Termination Letter attached as Exhibit B and the Property in the Trust Account, including interest (which interest shall
be net of taxes payable, and less up to $100,000 of interest that may be released to the Company to pay dissolution expenses)
shall be distributed to the Public Stockholders of record as of such date; provided, however, that the Trustee has no obligation
to monitor or question the Company’s position that an allocation has been made for taxes payable;

 

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

 

    2

     

    

 

 

(k) Upon
written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto
as Exhibit D, the Trustee shall distribute to the remitting brokers on behalf of Public Stockholders redeeming shares of Common
Stock the amount required to pay for redeemed shares of Common Stock from Public Stockholders in connection with a stockholder
vote to approve an amendment to the Charter (i) modify the substance or timing of the Company’s obligation to allow redemption
in connection with a Business Combination or to redeem 100% of the shares of Common Stock included in the Units sold in the Offering
if the Company does not complete a Business Combination within the time period set forth in the Company’s Charter or (ii)
with respect to any other provision relating to stockholders’ rights or pre-initial Business Combination activity. The written
request of the Company referenced above shall constitute presumptive evidence that the Company is entitled to distribute said
funds, and the Trustee shall have no responsibility to look beyond said request; and

 

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

 

2. Agreements
and Covenants of the Company. The Company hereby agrees and covenants to:

 

(a) Give
all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, Chief Executive Officer,
Chief Financial Officer, President, Executive Vice President, Vice President or Secretary. In addition, except with respect to
its duties under Sections 1(i), 1(j) and 1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in
relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given
by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such
instructions in writing;

 

(b) Subject
to Section 4 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including
reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder
and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection
with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder,
or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross
negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement
of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(b),
it shall notify the Company in writing of such claim (hereinafter referred to as the “Indemnified Claim”).
The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided that the Trustee shall
obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld.
The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent
shall not be unreasonably withheld. 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 the disbursements are made to the Company pursuant to Section 1(i) solely in
connection with the completion of a Business Combination (defined below). The Company shall pay the Trustee the initial acceptance
fee and the first annual administration fee at the consummation of the Offering and thereafter on the anniversary of the Effective
Date. The Trustee shall refund the Company the annual administration 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), Schedule A and as may be provided in Section 2(b) hereof;

 

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

 

    3

     

    

 

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

 

(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

 

(g) Expressly
provide in any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit
A that the Marketing Fee be paid directly to the account or accounts directed by the Representative on behalf of the Underwriters
prior to any transfer of the funds held in the Trust Account to the Company or any other person.

 

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;

 

(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, franchise and income tax obligations, except pursuant to Section 1(j) hereof; or

 

    4

     

    

 

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

 

4. Trust
Account Waiver. The Trustee has no right of set-off or any right, title, interest or claim of any kind (“Claim”)
to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account
that it may have now or in the future. 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 by the Company 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;

 

(b) At
such time that the Trustee has completed the liquidation of the Trust Account and its obligations in accordance with the provisions
of Section 1(i) hereof (which section may not be amended under any circumstances) and distributed the Property in accordance
with the provisions of the Termination Letter, this Agreement shall terminate except with respect to Section 2(b) and Section 4;
or

 

(c) If
the Offering is not consummated within ten (10) business days of the date of this Agreement, in which case any funds received
by the Trustee from the Company, CA Co-Investment LLC or Concord Sponsor Group LLC, as applicable, shall be returned promptly
following the receipt by the Trustee of written instructions from the Company.

 

6. Miscellaneous.

 

(a) The
Company and the Trustee each acknowledge that the Trustee will follow the security procedures set forth below with respect to
funds transferred from the Trust Account. The Company and the Trustee will each restrict access to confidential information relating
to such security procedures to authorized persons. Each party must notify the other party 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.

 

    5

     

    

 

(c) This
Agreement contains the entire agreement and understanding of the parties hereto with respect to the subject matter hereof. This
Agreement or any provision hereof may only be changed, amended or modified (other than to correct a typographical error) by a
writing signed by each of the parties hereto.

 

(d) This
Agreement or any provision hereof may only be changed, amended or modified pursuant to Section 6(c) hereof with the Consent
of the Stockholders. For purposes of this Section 6(d), the “Consent of the Stockholders” means
(i) receipt by the Trustee of a certificate from the inspector of elections of the stockholder meeting certifying that the Company’s
stockholders of record as of a record date established in accordance with Section 213(a) of the Delaware General Corporation Law,
as amended (or any successor rule), who hold sixty-five percent (65%) or more of all then outstanding shares of the Common Stock
and Class B common stock, par value $0.0001 per share, of the Company voting together as a single class, have voted in favor of
such change, amendment or modification, or (ii) the Company’s stockholders of record as of the record date who hold sixty-five
percent (65%) or more of all then outstanding shares of the Common Stock and Class B common stock, par value $0.0001 per share,
of the Company voting together as a single class, have delivered to the Trustee a signed writing approving such change, amendment
or modification. No such amendment will affect any Public Stockholder who has otherwise indicated his, her or its election to
redeem his, her or its shares of Common Stock in connection with a stockholder vote sought to amend this Agreement, including
a corresponding change to the Charter. Except for any liability arising out of the Trustee’s gross negligence, fraud or
willful misconduct, the Trustee may rely conclusively on the certification from the inspector or elections referenced above and
shall be relieved of all liability to any party for executing the proposed amendment in reliance thereon.

 

(e) 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 electronic mail:

 

if
to the Trustee, to:

 

Continental
Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: Francis Wolf and Celeste Gonzalez

Email: fwolf@continentalstock.com 

Email:
cgonzalez@continentalstock.com

 

if
to the Company, to:

 

Concord
Acquisition Corp

477
Madison Avenue

New
York, NY 10022 

	 	Attn:	Jeff Tuder
	 	Email:	jeff@tremsoncapital.com

 

in
each case, with copies to:

 

Greenberg
Traurig, LLP

1750
Tysons Boulevard, Suite 1000

McLean,
VA 22102 

	 	Attn:	Alan I. Annex, Esq. and Jason T. Simon, Esq.
	 	Email:	annexa@gtlaw.com and simonj@gtlaw.com

 

    6

     

    

 

and:

 

White
& Case, LLP

1221 Avenue of the Americas

New York, NY 10020 

	 	Attn:	Joel L. Rubinstein, Esq. and Elliott M. Smith, Esq.
	 	Email:	joel.rubinstein@whitecase.com and elliott.smith@whitecase.com

 

(g) Each
of the Company and the Trustee hereby represents that it has the full right and power and has been duly authorized to enter into
this Agreement and to perform its respective obligations as contemplated hereunder. The Trustee acknowledges and agrees that it
shall not make any claims or proceed against the Trust Account, including by way of set-off, and shall not be entitled to any
funds in the Trust Account under any circumstance.

 

(h) This
Agreement is the joint product of the Trustee and the Company and each provision hereof has been subject to the mutual consultation,
negotiation and agreement of such parties and shall not be construed for or against any party hereto.

 

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

 

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

 

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

 

[Signature
Page Follows]

 

    7

     

    

 

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/ Francis Wolf
	 	Name:	Francis Wolf
	 	Title:	Vice President
	 	 	 
	 	CONCORD Acquisition Corp
	 	 
	 	By:	/s/ Jeff Tuder
	 	Name:  	Jeff Tuder
	 	Title:	Chief Executive Officer

 

[Signature
Page to Investment Management Trust Agreement] 

 

     

     

    

 

SCHEDULE
A

 

	Fee Item	 	Time and method of payment	 	Amount	 
	Initial set-up fee	 	Initial closing of Offering by wire transfer	 	$	3,500.00	 
	Trustee administration fee	 	First year, initial closing of Offering by wire transfer, thereafter on the anniversary of the effective date of the Offering by wire transfer or check	 	$	10,000.00	 
	Transaction processing fee for disbursements to Company under Sections 1(i), 1(j) and 1(k)	 	Billed to Company following disbursement made to Company under Sections 1(i), 1(j) and 1(k)	 	$	250.00	 
	Paying Agent services as required pursuant to Sections 1(i) and 1(k)	 	Billed to Company upon delivery of service pursuant to Sections 1(i) and 1(k)	 	 	Prevailing rates	 

 

     

     

    

 

EXHIBIT
A

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

 

		Re:	Trust
Account - Termination Letter

 

Dear
Mr. Wolf and Ms. Gonzalez:

 

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

 

In
accordance with the terms of the Trust Agreement, we hereby authorize you to commence to liquidate all of the assets of the Trust
Account and to transfer the proceeds to a segregated account held by you on behalf of the Beneficiaries to the effect that, on
the Consummation Date, all of the funds held in the Trust Account will be immediately available for transfer to the account or
accounts that the Company shall direct on the Consummation Date (including as directed to it by the Representative on behalf of
the Underwriters (with respect to the Marketing Fee)). It is acknowledged and agreed that while the funds are on deposit in the
trust operating account at J.P. Morgan Chase Bank, N.A. awaiting distribution, neither the Company nor the Representative will
earn any interest or dividends.

 

On
the Consummation Date (i) counsel for the Company shall deliver to you written notification that the Business Combination has
been consummated, or will be consummated substantially concurrently with your transfer of funds to the accounts as directed by
the Company (the “Notification”) and (ii) the Company shall deliver to you (a) a certificate of the
Chief Executive Officer, which verifies that the Business Combination has been approved by a vote of the Company’s stockholders,
if a vote is held and (b) a joint written instruction signed by the Company and the Representative with respect to the transfer
of the funds held in the Trust Account, including payment of the Marketing Fee from the Trust Account (the “Instruction
Letter”). You are hereby directed and authorized to transfer the funds held in the Trust Account immediately upon
your receipt of the Notification and the Instruction Letter, in accordance with the terms of the Instruction Letter. In the event
that certain deposits held in the Trust Account may not be liquidated by the Consummation Date without penalty, you will notify
the Company in writing of the same and the Company shall direct you as to whether such funds should remain in the Trust Account
and be distributed after the Consummation Date to the Company. Upon the distribution of all the funds, net of any payments necessary
for reasonable unreimbursed expenses related to liquidating the Trust Account, your obligations under the Trust Agreement shall
be terminated.

 

In
the event that the Business Combination is not consummated on the Consummation Date described in the notice thereof and we have
not notified you on or before the original Consummation Date of a new Consummation Date, then upon receipt by the Trustee of written
instructions from the Company, the funds held in the Trust Account shall be reinvested as provided in Section 1(c) of the
Trust Agreement on the business day immediately following the Consummation Date as set forth in such notice as soon thereafter
as possible.

 

    A-1

     

    

 

	 	Very truly yours,
	 	 
	 	Concord Acquisition Corp
	 	 
	 	By:	       
	 	Name:	 
	 	Title:	 

 

	Acknowledged and Agreed:  	 
	 	 
	Cowen and Company, LLC	 
	 	 	 
	By:	          	 
	Name:	 	 
	Title:	 	 

 

    A-2

     

    

 

EXHIBIT
B

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

 

		Re:	Trust
Account - Termination Letter

 

Dear
Mr. Wolf and Ms. Gonalez:

 

Pursuant
to Section 1(i) of the Investment Management Trust Agreement between Concord Acquisition Corp (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of _________, 2020 (the
“Trust Agreement”), this is to advise you that the Company did not effect a business combination with
a Target Business (the “Business Combination”) within the time frame specified in the Company’s
Charter, as described in the Company’s Prospectus relating to the Offering. Capitalized terms used but not defined herein
shall have the meanings set forth in the Trust Agreement.

 

In
accordance with the terms of the Trust Agreement, we hereby authorize you to liquidate all of the assets in the Trust Account
and transfer the total proceeds into a segregated account held by you on behalf of the Beneficiaries to await distribution to
the Public Stockholders. The Company has selected [_________, 20__]1 as the effective date for the purpose of determining
when the Public Stockholders will be entitled to receive their share of the liquidation proceeds. You agree to be the Paying Agent
of record and, in your separate capacity as Paying Agent, agree to distribute said funds directly to the Company’s Public
Stockholders in accordance with the terms of the Trust Agreement and the Company’s Charter. Upon the distribution of all
the funds, net of any payments necessary for reasonable unreimbursed expenses related to liquidating the Trust Account, your obligations
under the Trust Agreement shall be terminated, except to the extent otherwise provided in Section 1(i) of the Trust
Agreement.

 

	 	Very truly yours,
	 	 
	 	Concord Acquisition Corp
	 	 
	 	By:	       
	 	Name:	 
	 	Title:	 

 

		cc:	Cowen
and Company, LLC

 

 

		1	18
months from the closing of the Offering or at a later date, if extended.

 

    B-1

     

    

 

EXHIBIT
C

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

 

		Re:	Trust
Account - Withdrawal Instruction

 

Dear
Mr. Wolf and Ms. Gonalez:

 

Pursuant
to Section 1(j) of the Investment Management Trust Agreement between Concord Acquisition Corp (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of _________, 2020 (the
“Trust Agreement”), the Company hereby requests that you deliver to the Company $[_____] of the interest
income earned on the Property as of the date hereof. Capitalized terms used but not defined herein shall have the meanings set
forth in the Trust Agreement.

 

The
Company needs such funds to pay for the tax obligations as set forth on the attached tax return or tax statement. In accordance
with the terms of the Trust Agreement, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly
upon your receipt of this letter to the Company’s operating account at:

 

[WIRE
INSTRUCTION INFORMATION]

 

	 	Very truly yours,
	 	 
	 	Concord Acquisition Corp
	 	 
	 	By:	       
	 	Name:	 
	 	Title:	 

 

		cc:	Cowen
and Company, LLC

 

    C-1

     

    

 

EXHIBIT
D

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

 

		Re:	Trust
Account - Stockholder Redemption Withdrawal Instruction

 

Dear
Mr. Wolf and Ms. Gonzalez:

 

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

 

The
Company needs such funds to pay its Public Stockholders who have properly elected to have their shares of Common Stock redeemed
by the Company in connection with a stockholder vote to approve an amendment to the Company’s Charter to (i) modify the
substance or timing of the Company’s obligation to allow redemption in connection with a Business Combination or to redeem
100% of the shares of Common Stock included in the Units sold in the Offering if the Company does not complete a Business Combination
within the time period set forth in the Company’s Charter or (ii) with respect to any other provision relating to stockholders’
rights or pre-initial Business Combination activity. As such, you are hereby directed and authorized to transfer (via wire transfer)
such funds promptly upon your receipt of this letter.

 

	 	Very truly yours,
	 	 
	 	Concord Acquisition Corp
	 	 
	 	By:	       
	 	Name:	 
	 	Title:	 

 

		cc:	Cowen
and Company, LLC

 

 

D-1

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