Document:

Exhibit 10.4

    

     

    

    REGISTRATION RIGHTS AGREEMENT

     

    

    THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of      , 2019, is made and entered into by and among
        South Mountain Merger Corp., a Delaware corporation (the “Company”), South Mountain LLC, a Delaware limited liability company (the “Sponsor”), and the undersigned parties listed under Holder on the signature
        page hereto (each such party, together with the Sponsor and any person or entity who hereafter becomes a party to this Agreement pursuant to Section 5.2 of
        this Agreement, a “Holder” and collectively the “Holders”).

     

      

    RECITALS

     

      

    WHEREAS, the Company
        and the Sponsor have entered into that certain Securities Subscription Agreement, dated as of     , 2019, pursuant to which the Sponsor purchased an aggregate of 5,750,000 shares (the “Founder Shares”) of the Company’s Class B common stock, par value $0.0001 per share (the “Class B Common Stock”) (up to 750,000 of which are subject to forfeiture depending on the
        extent to which the underwriter’s over-allotment option is exercised);

     

        

    WHEREAS, the Founder
        Shares are convertible into shares of the Company’s Class A common stock, par value $0.0001 per share (the “Common Stock”), on the terms and conditions provided in the Company’s amended and restated
        certificate of incorporation;

     

        

    WHEREAS, on      ,
        2019, the Company and the Sponsor entered into that certain Private Placement Warrants Purchase Agreement, pursuant to which the Sponsor agreed to purchase an aggregate of 6,000,000 warrants (or up to 6,540,000 warrants if the over-allotment option
        in connection with the Company’s initial public offering is exercised in full) (the “Private

            Placement Warrants”), in a private placement occurring simultaneously with the closing of the Company’s initial public offering;

     

        

    WHEREAS, in order to
        finance transaction costs in connection with an intended initial business combination, the Sponsor or an affiliate of the Sponsor or certain of the Company’s officer and directors may loan to the Company funds as the Company may require, of which
        up to $1,500,000 of such loans may be convertible into warrants (“Working Capital Warrants”) at a price of $1.00 per warrant; and

     

        

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

    
      
        

    

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

     

      

    ARTICLE I

        DEFINITIONS

     

      

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

     

        

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

     

        

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

     

        

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

     

        

    “Business Combination” shall mean any merger, capital stock exchange, asset acquisition, stock
        purchase, reorganization or other similar business combination with one or more businesses, involving the Company.

     

        

    “Business Day” means any day, other than a Saturday or a Sunday, that is neither a legal holiday nor a
        day on which banking institutions are generally authorized or required by law or regulation to close in the City of New York, New York.

     

      

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

     

        

    “Commission” shall mean the Securities and Exchange Commission.

     

        

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

     

        

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

     

        

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

     

        

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

     

        

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

     

        

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

     

        

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

    
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    “Founder Shares” shall have the meaning given in the Recitals hereto and shall be deemed to include
        the shares of Common Stock issuable upon conversion thereof.

     

        

    “Founder Shares Lock-up Period” shall mean, with respect to the Founder Shares, the period ending on
        the earlier of (A) one year after the completion of the Company’s initial Business Combination or (B) subsequent to the Business Combination, (x) if the closing
        price of the Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days
        after the Company’s initial Business Combination or (y) the date on which the Company completes a liquidation, merger, capital stock exchange, reorganization or
        other similar transaction that results in all of the Company’s stockholders having the right to exchange their shares of Common Stock for cash, securities or other
        property.

     

        

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

     

        

    “Insider Letter” shall mean that certain letter agreement, dated as of    , 2019, by and among the
        Company, the Sponsor and each of the Company’s officers, directors and director nominees.

     

        

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

     

        

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

     

        

    “Permitted Transferees” shall mean any person or entity to whom a Holder of Registrable Securities is
        permitted to transfer such Registrable Securities prior to the expiration of the Founder Shares Lock-up Period or Private Placement Lock-up Period, as the case may be, and pursuant to the Insider Letter and any other applicable agreement between
        such Holder and the Company, in each case for so long as such agreements remain in effect, and to any transferee thereafter.

     

        

    “Piggyback Registration” shall have the meaning given in subsection 2.2.1.

     

        

    “Private Placement Lock-up Period” shall mean, with respect to Private Placement Warrants that are
        held by the initial purchasers of such Private Placement Warrants or their Permitted Transferees, the Private Placement Warrants and any shares of Common Stock issued or issuable upon the exercise or conversion of the Private Placement Warrants and
        that are held by the initial purchasers of the Private Placement Warrants or their Permitted Transferees, the period ending 30 days after the completion of the Company’s
        initial Business Combination.

     

        

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

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

     

        

    “Registrable Security” shall mean (a) the shares of Common Stock issued or issuable upon the
        conversion of any Founder Shares, (b) the Private Placement Warrants (including any shares of Common Stock issued or issuable upon the exercise of any such Private Placement Warrants), (c) any outstanding share of Common Stock or any other equity
        security (including, without limitation, the shares of Common Stock issued or issuable upon the exercise of any other equity security, units comprising shares of Common Stock and warrants, and warrants) of the Company held by a Holder from time to
        time, (d) any equity securities (including the shares of Common Stock issued or issuable upon the exercise of any such equity security) of the Company issuable upon conversion of any working capital loans in an amount up to $1,500,000 made to the
        Company by a Holder (including the Working Capital Warrants and any shares of Common Stock issuable upon the exercise of the Working Capital Warrants), and (e) any other equity security of the Company issued or issuable with respect to any such
        share of Common Stock by way of a stock dividend or stock split or in connection with a combination of shares, recapitalization, merger, consolidation or reorganization; provided,
        however, that, as to any particular Registrable Security, such securities shall cease to be Registrable Securities when: (A) a Registration Statement with
        respect to the sale of such securities shall have become effective under the Securities Act and such securities shall have been sold, transferred, disposed of or exchanged in accordance with such Registration Statement; (B) such securities shall
        have been otherwise transferred, new certificates for such securities not bearing a legend restricting further transfer shall have been delivered by the Company and subsequent public distribution of such securities shall not require registration
        under the Securities Act; (C) such securities shall have ceased to be outstanding; (D) such securities have been sold without registration pursuant to Rule 144 promulgated under the Securities Act (or any successor rule promulgated by the
        Commission); or (E) such securities have been sold to, or through, a broker, dealer or underwriter in a public distribution or other public securities transaction.

     

        

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

     

        

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

     

      

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

     

      

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

     

      

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

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

     

      

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

     

      

    (F)         reasonable fees and expenses
        of one (1) legal counsel selected by the majority-in-interest of the Demanding Holders initiating a Demand Registration to be registered for offer and sale in the applicable Registration.

     

        

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

     

        

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

     

        

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

     

        

    “Sponsor” shall have the meaning given in the Preamble hereto.

     

        

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

     

        

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

     

      

    “Working Capital Warrants” shall
        have the meaning given in the Recitals hereto.

     

      

    ARTICLE II

        REGISTRATIONS

     

      

    2.1         Demand Registration.

     

      

    2.1.1      Request for Registration.  Subject to the provisions of subsection 2.1.4 and Section 2.4 hereof, at any time and from time to time on or after the date the Company consummates the Business Combination, the Holders of at least 20% in interest of the
        then-outstanding number of Registrable Securities (the “Demanding Holders”) may make a written demand for Registration of all or part of their Registrable Securities, which written demand shall describe the amount and type of securities to
        be included in such Registration and the intended method(s) of distribution thereof (such written demand a “Demand Registration”).  The Company shall, within three (3) Business Days of the Company’s receipt of the Demand Registration, notify, in writing, all other Holders of Registrable Securities of such demand, and each Holder of Registrable Securities who thereafter wishes to
        include all or a portion of such Holder’s Registrable Securities in a Registration pursuant to a Demand Registration (each such Holder that includes all or a
        portion of such Holder’s Registrable Securities in such Registration, a “Requesting Holder”) shall so notify the Company, in writing, within five (5)
        Business Days after the receipt by the Holder of the notice from the Company.  Upon receipt by the Company of any such written notification from a Requesting Holder(s) to the Company, such Requesting Holder(s) shall be entitled to have their
        Registrable Securities included in a Registration pursuant to a Demand Registration and the Company shall effect, as soon thereafter as practicable, but not more than forty five (45) days immediately after the Company’s receipt of the Demand Registration, the Registration of all Registrable Securities requested by the Demanding Holders and Requesting Holders pursuant to such Demand Registration.  Under no
        circumstances shall the Company be obligated to effect more than an aggregate of four (4) Registrations pursuant to a Demand Registration under this subsection 2.1.1
        with respect to any or all Registrable Securities; provided, however,
        that a Registration shall not be counted for such purposes unless a Form S-1 or any similar long-form registration statement that may be available at such time (“Form S-1”) has become effective and all of the Registrable Securities
        requested by the Requesting Holders to be registered on behalf of the Requesting Holders in such Form S-1 Registration have been sold, in accordance with Section 3.1
        of this Agreement.

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

     

      

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

     

      

    2.1.4      Reduction of Underwritten Offering.  If the managing Underwriter or Underwriters in an Underwritten Registration pursuant to a Demand Registration, in good faith, advises the Company, the Demanding
        Holders and the Requesting Holders (if any) in writing that the dollar amount or number of Registrable Securities that the Demanding Holders and the Requesting Holders (if any) desire to sell, taken together with all other Common Stock or other
        equity securities that the Company desires to sell and the Common Stock, if any, as to which a Registration has been requested pursuant to separate written contractual piggy-back registration rights held by any other stockholders who desire to
        sell, exceeds the maximum dollar amount or maximum number of equity securities that can be sold in the Underwritten Offering without adversely affecting the proposed offering price, the timing, the distribution method, or the probability of success
        of such offering (such maximum dollar amount or maximum number of such securities, as applicable, the “Maximum Number of Securities”), then the Company shall include in such Underwritten Offering, as follows: (i) first, the
        Registrable Securities of the Demanding Holders and the Requesting Holders (if any) (pro rata based on the respective number of Registrable Securities that each Demanding Holder and Requesting Holder (if any) holds prior to such Underwritten Registration) that can be sold without exceeding the Maximum Number of
        Securities; (ii) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (i), Common Stock or other equity securities for the account of other persons or entities that the Company is obligated to
        register pursuant to separate written contractual arrangements with such persons or entities and that can be sold without exceeding the Maximum Number of Securities; and (iii) third, to the extent that the Maximum Number of Securities has not been
        reached under the foregoing clauses (i) and (ii), Common Stock or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum Number of Securities.

     

      

    2.1.5      Demand Registration Withdrawal.  A majority-in-interest of the Demanding Holders initiating a Demand Registration or a majority-in-interest of the Requesting Holders (if any), pursuant to a
        Registration under subsection 2.1.1 shall have the right to withdraw from a Registration pursuant to such Demand Registration for any or no reason
        whatsoever upon written notification to the Company and the Underwriter or Underwriters (if any) of their intention to withdraw from such Registration prior to the effectiveness of the Registration Statement filed with the Commission with respect
        to the Registration of their Registrable Securities pursuant to such Demand Registration.  Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with a
        Registration pursuant to a Demand Registration prior to its withdrawal under this subsection 2.1.5.

    
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    2.2         Piggyback Registration.

     

      

    2.2.1      Piggyback Rights.  If, at any time on or after the date the Company consummates a Business Combination, the Company proposes to file a Registration Statement under the Securities Act with respect to
        an offering of equity securities, or securities or other obligations exercisable or exchangeable for, or convertible into equity securities, for its own account or for the account of stockholders of the Company (or by the Company and by the
        stockholders of the Company including, without limitation, pursuant to Section 2.1 hereof), other than a Registration Statement (i) filed in connection with
        any employee stock option or other benefit plan, (ii) for an exchange offer or offering of securities solely to the Company’s existing stockholders, (iii) for an
        offering of debt that is convertible into equity securities of the Company or (iv) for a dividend reinvestment plan, then the Company shall give written notice of such proposed filing to all of the Holders of Registrable Securities as soon as
        practicable but not less than three (3) Business Days before the anticipated filing date of such Registration Statement, which notice shall (A) describe the amount and type of securities to be included in such offering, the intended method(s) of
        distribution, and the name of the proposed managing Underwriter or Underwriters, if any, in such offering, and (B) offer to all of the Holders of Registrable Securities the opportunity to register the sale of such number of Registrable Securities
        as such Holders may request in writing within five (5) Business Days after receipt of such written notice (such Registration a “Piggyback Registration”).  The Company shall, in good faith, cause such Registrable Securities to be
        included in such Piggyback Registration and shall use its best efforts to cause the managing Underwriter or Underwriters of a proposed Underwritten Offering to permit the Registrable Securities requested by the Holders pursuant to this subsection 2.2.1 to be included in a Piggyback Registration on the same terms and conditions as any similar securities of the Company included in such
        Registration and to permit the sale or other disposition of such Registrable Securities in accordance with the intended method(s) of distribution thereof.  All such Holders proposing to distribute their Registrable Securities through an
        Underwritten Offering under this subsection 2.2.1 shall enter into an underwriting agreement in customary form with the Underwriter(s) selected for such
        Underwritten Offering by the Company.

     

      

    2.2.2      Reduction of Piggyback Registration.  If the managing Underwriter or Underwriters in an Underwritten Registration that is to be a Piggyback Registration, in good faith, advises the Company and the
        Holders of Registrable Securities participating in the Piggyback Registration in writing that the dollar amount or number of shares of Common Stock that the Company desires to sell, taken together with (i) the shares of Common Stock, if any, as to
        which Registration has been demanded pursuant to separate written contractual arrangements with persons or entities other than the Holders of Registrable Securities hereunder, (ii) the Registrable Securities as to which registration has been
        requested pursuant to Section 2.2 hereof, and (iii) the shares of Common Stock, if any, as to which Registration has been requested pursuant to separate
        written contractual piggy-back registration rights of other stockholders of the Company, exceeds the Maximum Number of Securities, then:

     

      

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

     

      

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

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

     

      

    2.2.4      Unlimited Piggyback Registration Rights.  For purposes of clarity, any Registration effected pursuant to Section 2.2
        hereof shall not be counted as a Registration pursuant to a Demand Registration effected under Section 2.1 hereof.

     

      

    2.3         Registrations on Form S-3.  The Holders of Registrable Securities may at any time, and from time to time, request in writing that the Company, pursuant to Rule 415 under the Securities Act (or any
        successor rule promulgated thereafter by the Commission), register the resale of any or all of their Registrable Securities on Form S-3 or any similar short form registration statement that may be available at such time (“Form S-3”). 

        Within three (3) Business Days of the Company’s receipt of a written request from a Holder or Holders of Registrable Securities for a Registration on Form S-3, the
        Company shall promptly give written notice of the proposed Registration on Form S-3 to all other Holders of Registrable Securities, and each Holder of Registrable Securities who thereafter wishes to include all or a portion of such Holder’s Registrable Securities in such Registration on Form S-3 shall so notify the Company, in writing, within ten (10) days after the receipt by the Holder of the notice
        from the Company. As soon as practicable thereafter, but not more than twelve (12) days after the Company’s initial receipt of such written request for a
        Registration on Form S-3, the Company shall register all or such portion of such Holder’s Registrable Securities as are specified in such written request, together
        with all or such portion of Registrable Securities of any other Holder or Holders joining in such request as are specified in the written notification given by such Holder or Holders; provided, however, that the Company shall not be obligated to effect any such Registration pursuant to Section 2.3 hereof if (i) a Form S-3 is not available for such offering; or (ii) the Holders of Registrable Securities, together with the Holders of any other
        equity securities of the Company entitled to inclusion in such Registration, propose to sell the Registrable Securities and such other equity securities (if any) at any aggregate price to the public of less than $5,000,000.

     

      

    Any request for an underwritten offering pursuant to a Form S-3 shall follow the procedures of Section 2.1 (including Section 2.1.4) but shall not count against the number of long form
        Demand Registrations that may be made pursuant to Section 2.1.1.

     

      

    2.4         Restrictions on Registration Rights.  If (A) during the period starting with the date sixty (60) days prior to the Company’s
        good faith estimate of the date of the filing of, and ending on a date one hundred and twenty (120) days after the effective date of, a Company initiated Registration and provided
        that the Company has delivered written notice to the Holders prior to receipt of a Demand Registration pursuant to subsection 2.1.1 and it continues to
        actively employ, in good faith, all reasonable efforts to cause the applicable Registration Statement to become effective; (B) the Holders have requested an Underwritten Registration and the Company and the Holders are unable to obtain the
        commitment of underwriters to firmly underwrite the offer; or (C) in the good faith judgment of the Board such Registration would be seriously detrimental to the Company and the Board concludes as a result that it is essential to defer the filing
        of such Registration Statement at such time, then in each case the Company shall furnish to such Holders a certificate signed by the Chairman of the Board stating that in the good faith judgment of the Board it would be seriously detrimental to the
        Company for such Registration Statement to be filed in the near future and that it is therefore essential to defer the filing of such Registration Statement.  In such event, the Company shall have the right to defer such filing for a period of not
        more than thirty (30) days; provided, however, that the Company
        shall not defer its obligation in this manner more than once in any 12-month period. Notwithstanding anything to the contrary contained in this Agreement, no Registration shall be effected or permitted and no Registration Statement shall become
        effective, with respect to any Registrable Securities held by any Holder, until after the expiration of the Founder Shares Lock-Up Period or the Private Placement Lock-Up Period, as the case may be.

    
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    ARTICLE III

        COMPANY PROCEDURES

     

      

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

     

      

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

     

      

    3.1.2      prepare and file with the Commission such
        amendments and post-effective amendments to the Registration Statement, and such supplements to the Prospectus, as may be requested by the Holders or any Underwriter of Registrable Securities or as may be required by the rules, regulations or
        instructions applicable to the registration form used by the Company or by the Securities Act or rules and regulations thereunder to keep the Registration Statement effective until all Registrable Securities covered by such Registration Statement
        are sold in accordance with the intended plan of distribution set forth in such Registration Statement or supplement to the Prospectus;

     

      

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

     

      

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

    
      9

      
        

    

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

     

      

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

     

      

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

     

      

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

     

      

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

     

      

    3.1.10    permit a representative of the Holders, the
        Underwriters, if any, and any attorney or accountant retained by such Holders or Underwriter to participate, at each such person’s own expense, in the preparation
        of the Registration Statement, and cause the Company’s officers, directors and employees to supply all information reasonably requested by any such representative,
        Underwriter, attorney or accountant in connection with the Registration; provided, however, that such representatives or Underwriters enter into a confidentiality agreement, in form and substance reasonably satisfactory to the Company, prior to the release or disclosure of any such information;

     

      

    3.1.11    obtain a “cold comfort” letter from the Company’s independent registered public accountants in the event of an Underwritten Registration, in customary form and covering such matters of the type customarily covered by “cold comfort” letters as the managing Underwriter may reasonably request, and reasonably satisfactory to a majority-in-interest of
        the participating Holders;

     

      

    3.1.12    on the date the Registrable Securities are
        delivered for sale pursuant to such Registration, obtain an opinion, dated such date, of counsel representing the Company for the purposes of such Registration, addressed to the Holders, the placement agent or sales agent, if any, and the
        Underwriters, if any, covering such legal matters with respect to the Registration in respect of which such opinion is being given as the Holders, placement agent, sales agent, or Underwriter may reasonably request and as are customarily included
        in such opinions and negative assurance letters, and reasonably satisfactory to a majority in interest of the participating Holders;

     

      

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

    
      10

      
        

    

    3.1.14    make available to its security holders, as soon
        as reasonably practicable, an earnings statement covering the period of at least twelve (12) months beginning with the first day of the Company’s first full
        calendar quarter after the effective date of the Registration Statement which satisfies the provisions of Section 11(a) of the Securities Act and Rule 158
        thereunder (or any successor rule promulgated thereafter by the Commission);

     

      

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

     

      

    3.1.16    otherwise, in good faith, cooperate reasonably
        with, and take such customary actions as may reasonably be requested by the Holders, in connection with such Registration, including, without limitation, making available senior executives of the Company to participate in any due diligence sessions
        that may be reasonably requested by the Underwriter in any Underwritten Offering.

     

      

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

     

      

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

     

      

    3.4         Suspension of Sales; Adverse Disclosure.  Upon receipt of written notice from the Company that a Registration Statement or Prospectus contains a Misstatement, each of the Holders shall forthwith
        discontinue disposition of Registrable Securities until he, she or it has received copies of a supplemented or amended Prospectus correcting the Misstatement (it being understood that the Company hereby covenants to prepare and file such supplement
        or amendment as soon as practicable after the time of such notice), or until he, she or it is advised in writing by the Company that the use of the Prospectus may be resumed.  If the filing, initial effectiveness or continued use of a Registration
        Statement in respect of any Registration at any time would require the Company to make an Adverse Disclosure or would require the inclusion in such Registration Statement of financial statements that are unavailable to the Company for reasons
        beyond the Company’s control, the Company may, upon giving prompt written notice of such action to the Holders, delay the filing or initial effectiveness of, or
        suspend use of, such Registration Statement for the shortest period of time, but in no event more than thirty (30) days, determined in good faith by the Company to be necessary for such purpose.  In the event the Company exercises its rights under
        the preceding sentence, the Holders agree to suspend, immediately upon their receipt of the notice referred to above, their use of the Prospectus relating to any Registration in connection with any sale or offer to sell Registrable Securities.  The
        Company shall immediately notify the Holders of the expiration of any period during which it exercised its rights under this Section 3.4.

    
      11

      
        

    

    3.5         Reporting Obligations.  As long as any Holder shall own Registrable Securities, the Company, at all times while it shall be a reporting company under the Exchange Act, covenants to file timely (or
        obtain extensions in respect thereof and file within the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to Sections

          13(a) or 15(d) of the Exchange Act and to promptly furnish the Holders with true and complete copies of all such filings.  The Company further covenants
        that it shall take such further action as any Holder may reasonably request, all to the extent required from time to time to enable such Holder to sell shares of Common Stock held by such Holder without registration under the Securities Act within
        the limitation of the exemptions provided by Rule 144 promulgated under the Securities Act (or any successor rule promulgated thereafter by the Commission), including providing any legal opinions.  Upon the request of any Holder, the Company shall
        deliver to such Holder a written certification of a duly authorized officer as to whether it has complied with such requirements.

     

      

    ARTICLE IV

        INDEMNIFICATION AND CONTRIBUTION

     

      

    4.1         Indemnification.

     

      

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

     

      

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

     

      

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

    
      12

      
        

    

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

     

      

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

            4.1.5 from any person who was not guilty of such fraudulent misrepresentation.

     

      

    ARTICLE V

        MISCELLANEOUS

     

      

    5.1         Notices.  Any notice or communication under this Agreement must be in writing and given by (i) deposit in the United States mail, addressed to the party to be notified, postage prepaid and
        registered or certified with return receipt requested, (ii) delivery in person or by courier service providing evidence of delivery, or (iii) transmission by hand delivery, electronic mail, telecopy, telegram or facsimile.  Each notice or
        communication that is mailed, delivered, or transmitted in the manner described above shall be deemed sufficiently given, served, sent, and received, in the case of mailed notices, on the third business day following the date on which it is mailed
        and, in the case of notices delivered by courier service, hand delivery, electronic mail, telecopy, telegram or facsimile, at such time as it is delivered to the addressee (with the delivery receipt or the affidavit of messenger) or at such time as
        delivery is refused by the addressee upon presentation.  Any notice or communication under this Agreement must be addressed, if to the Company, to: 767 Fifth Avenue, 9th
        Floor, New York, NY 10153, Attention: Charles Bernicker, and, if to any Holder, at such Holder’s address or facsimile number as set forth in the Company’s books and records.  Any party may change its address for notice at any time and from time to time by written notice to the other parties hereto, and such change of
        address shall become effective thirty (30) days after delivery of such notice as provided in this Section 5.1.

    
      13

      
        

    

    5.2         Assignment; No Third Party Beneficiaries.

     

      

    5.2.1      This Agreement and the rights, duties and
        obligations of the Company hereunder may not be assigned or delegated by the Company in whole or in part.

     

      

    5.2.2       A Holder may assign or delegate such Holder’s rights, duties or obligations under this Agreement, in whole or in part, to a Permitted Transferee who agrees to become bound by the transfer restrictions set forth
        in this Agreement.

     

      

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

     

      

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

     

      

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

     

      

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

     

      

    5.4         Governing Law; Venue.  NOTWITHSTANDING THE PLACE WHERE THIS AGREEMENT MAY BE EXECUTED BY ANY OF THE PARTIES HERETO, THE PARTIES EXPRESSLY AGREE THAT THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED
        UNDER THE LAWS OF THE STATE OF NEW YORK AS APPLIED TO AGREEMENTS AMONG NEW YORK RESIDENTS ENTERED INTO AND TO BE PERFORMED ENTIRELY WITHIN NEW YORK, WITHOUT REGARD TO THE CONFLICT OF LAW PROVISIONS OF SUCH JURISDICTION AND (II) THE VENUE FOR ANY
        ACTION TAKEN WITH RESPECT TO THE AGREEMENT SHALL BE ANY STATE OR FEDERAL COURT IN NEW YORK COUNTY IN THE STATE OF NEW YORK.

     

      

    EACH PARTY HERETO ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE
        COMPLICATED AND DIFFICULT ISSUES, AND, THEREFORE, EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT TO ANY ACTION DIRECTLY OR
        INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT.

    
      14

      
        

    

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

     

      

    5.6         Other Registration Rights.  The Company represents and warrants that no person, other than a Holder of Registrable Securities has any right to require the Company to register any securities of the
        Company for sale or to include such securities of the Company in any Registration filed by the Company for the sale of securities for its own account or for the account of any other person.  Further, the Company represents and warrants that this
        Agreement supersedes any other registration rights agreement or agreement with similar terms and conditions and in the event of a conflict between any such agreement or agreements and this Agreement, the terms of this Agreement shall prevail.

     

      

    5.7         Term.  This Agreement shall terminate upon the date as of which (A) all of the Registrable Securities have been sold pursuant to a Registration Statement (but in no event prior to the applicable
        period referred to in Section 4(a)(3) of the Securities Act and Rule 174 thereunder (or any successor rule promulgated thereafter by the Commission)) or (B) the Holders of all Registrable Securities are permitted to sell the Registrable Securities
        under Rule 144 (or any similar provision) under the Securities Act without limitation on the amount of securities sold or the manner of sale.  The provisions of Section

            3.5 and Article IV shall survive any termination.

     

      

    

      [Signature pages follow]

    

    
      15

      
        

    

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

       

      

      	 	
              COMPANY:

            
	 	 
	 	
              SOUTH MOUNTAIN MERGER CORP.,

            
	 	
              a Delaware corporation

            
	 	 
	 	
              By:

            	 
	 	 	
              Name:

            	
              Charles Bernicker

            
	 	 	
              Title:

            	
              Director and CEO

            

      

      

      	 	
              HOLDERS:

            
	 	 
	 	
              SOUTH MOUNTAIN LLC

            
	 	 
	 	
              By: Harbour Reach Holdings LLC, its managing member

            
	 	 
	 	
              By: Netherton Investments Limited, its managing member

            
	 	 	 	 
	 	
              By:

            	 
	 	 	
              Name:

            	
              Robert Heaselgrave

            
	 	 	
              Title:

            	
              Director

            
	 	 	 	 
	 	[OTHER HOLDERS]  

      

      

      
         

        

        [Signature Page to Registration Rights Agreement]Exhibit 10.6

    

     

    

    PRIVATE PLACEMENT

      WARRANTS PURCHASE AGREEMENT

     

    

    THIS PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT, dated as of      , 2019 (this “Agreement”), is entered into
        by and between South Mountain Merger Corp., a Delaware corporation (the “Company”), and South Mountain LLC, a Delaware limited liability company (the “Purchaser”).

     

      

    WHEREAS, the Company intends to consummate an initial public offering of the Company’s units (the “Public
            Offering”), each unit consisting of one share of the Company’s
        Class A common stock, par value $0.0001 per share (a “Share”), and one-half of one redeemable warrant, each whole warrant exercisable for one Share at an exercise price of $11.50 per Share, as set forth in the Company’s registration statement on Form S-1 related to the Public Offering (the “Registration Statement”); and

     

      

    WHEREAS, the Purchaser now wishes to purchase an aggregate of 6,000,000 warrants (or 6,540,000 warrants if the underwriters’
        over-allotment option is exercised in full) (the “Warrants”), each Warrant entitling the holder to purchase one Share at an exercise price of $11.50 per Share.

     

      

    NOW THEREFORE, in consideration of the mutual promises contained in this Agreement and other good and valuable consideration,
        the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby, intending legally to be bound, agree as follows:

     

          

    AGREEMENT

     

      

    Section 1.          Authorization, Purchase and Sale; Terms
        of the Warrants.

     

      

    A.           Authorization of the Warrants.  The Company has duly authorized the issuance and sale of the Warrants to the Purchaser.

     

      

    B.           Purchase and Sale of the Warrants.

     

      

    (i)            As payment in full for the 6,000,000
        Warrants being purchased under this Agreement, the Purchaser shall pay $6,000,000 (the “Purchase Price”), by wire transfer of immediately available funds in accordance with the Company’s wiring instructions, at least one (1) business day prior to the closing of the Public Offering, or on such other date as the Company and the Purchaser may agree.

     

      

    (ii)           In the event that the underwriters’
        over-allotment option is exercised in full, the Purchaser shall purchase up to an additional 540,000 Warrants (the “Additional Warrants”), in the same proportion as the amount of the over-allotment option that is exercised, and
        simultaneously with such purchase of Additional Warrants, as payment in full for the Additional Warrants being purchased hereunder, and at least one (1) business day prior to the closing of all or any portion of the over-allotment option, or on
        such other date as the Company and the Purchaser may agree, the Purchaser shall pay $1.00 per Additional Warrant, up to an aggregate amount of $540,000, by wire transfer of immediately available funds in accordance with the Company’s wiring instructions.

    
      
        

    

    
    (iii)          The closing of the purchase and sale of the
        Warrants shall take place simultaneously with the closing of the Public Offering (the “Initial
            Closing Date”).  The closing of the purchase and sale of the Additional Warrants, if applicable, shall take place simultaneously with the closing of
        all or any portion of the over-allotment option (such closing date, together with the Initial Closing Date, the “Closing Dates” and each, a “Closing Date”).  The closing of the purchase and sale of each of the Warrants
        and the Additional Warrants shall take place at the offices of Paul, Weiss, Rifkind, Wharton & Garrison LLP, 1285 Avenue of the Americas, New York, New York, 10019, or such other place as may be agreed upon by the parties hereto.

     

      

    C.           Terms of the Warrants.

     

      

    (i)            The Warrants shall have their terms set
        forth in a Warrant Agreement to be entered into by the Company and a warrant agent, in connection with the Public Offering (a “Warrant Agreement”).

     

      

    (ii)           At or prior to the time of the Initial
        Closing Date, the Company and the Purchaser shall enter into a registration rights agreement (the “Registration Rights Agreement”) pursuant to which the Company will grant certain registration rights to the Purchaser relating to the
        Warrants and the Shares underlying the Warrants.

     

      

    Section 2.          Representations and Warranties of the Company.  As a material inducement to the Purchaser to enter
        into this Agreement and purchase the Warrants, the Company hereby represents and warrants to the Purchaser (which representations and warranties shall survive the Closing Dates) that:

     

      

    A.           Organization and Corporate Power.  The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and is qualified to do business in every
        jurisdiction in which the failure to so qualify would reasonably be expected to have a material adverse effect on the financial condition, operating results or assets of the Company.  The Company possesses all requisite corporate power and
        authority necessary to carry out the transactions contemplated by this Agreement and the Warrant Agreement.

     

      

    B.           Authorization; No Breach.

     

      

    (i)            The execution, delivery and performance of
        this Agreement and the Warrants have been duly authorized by the Company as of the Closing Dates.  This Agreement constitutes a valid and binding obligation of the Company, enforceable in accordance with its terms.  Upon issuance in accordance
        with, and payment pursuant to, the terms of the Warrant Agreement and this Agreement, the Warrants will constitute valid and binding obligations of the Company, enforceable in accordance with their terms as of the Closing Dates.

    
      2

      
        

    

    (ii)           The execution and delivery by the Company
        of this Agreement and the Warrants, the issuance and sale of the Warrants, the issuance of the Shares upon exercise of the Warrants and the fulfillment of, and compliance with, the respective terms hereof and thereof by the Company, do not and will
        not as of the Closing Dates (a) conflict with or result in a breach of the terms, conditions or provisions of, (b) constitute a default under, (c) result in the creation of any lien, security interest, charge or encumbrance upon the Company’s capital stock or assets under, (d) result in a violation of, or (e) require any authorization, consent, approval, exemption or other action by or notice or
        declaration to, or filing with, any court or administrative or governmental body or agency pursuant to the certificate of incorporation or the bylaws of the Company (in effect on the date hereof or as may be amended prior to completion of the
        contemplated Public Offering), or any material law, statute, rule or regulation to which the Company is subject, or any agreement, order, judgment or decree to which the Company is subject, except for any filings required after the date hereof
        under federal or state securities laws.

     

      

    C.          Title to Securities.  Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, the Shares issuable upon exercise of the Warrants will be duly and
        validly issued, fully paid and nonassessable.  Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, the Purchaser will have good title to the Warrants and the Shares issuable upon exercise of such
        Warrants, free and clear of all liens, claims and encumbrances of any kind, other than (i) transfer restrictions hereunder and under the other agreements contemplated hereby, (ii) transfer restrictions under federal and state securities laws, and
        (iii) liens, claims or encumbrances imposed due to the actions of the Purchaser.

     

      

    D.          Governmental Consents.  No permit, consent, approval or authorization of, or declaration to or filing with, any governmental authority is required in connection with the execution, delivery and
        performance by the Company of this Agreement or the consummation by the Company of any other transactions contemplated hereby.

     

      

    E.          Regulation D Qualification.  Neither the Company nor, to its knowledge, any of its affiliates, officers, directors or beneficial stockholders of 20% or more of its outstanding securities, has
        experienced a disqualifying event as enumerated pursuant to Rule 506(d) of Regulation D under the Securities Act of 1933, as amended (the “Securities Act”).

     

      

    Section 3.          Representations and Warranties of the Purchaser.  As a material inducement to the Company to enter
        into this Agreement and issue and sell the Warrants to the Purchaser, the Purchaser hereby represents and warrants to the Company (which representations and warranties shall survive the Closing Dates) that:

     

      

    A.          Organization and Requisite Authority.  The Purchaser possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement.

     

      

    B.          Authorization; No Breach.

     

      

     (i)            This Agreement constitutes a valid and
        binding obligation of the Purchaser, enforceable in accordance with its terms, subject to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general applicability relating to or affecting creditors’ rights and to general equitable principles (whether considered in a proceeding in equity or law).

    
      3

      
        

    

    (ii)           The execution and delivery by the Purchaser
        of this Agreement and the fulfillment of and compliance with the terms hereof by the Purchaser does not and shall not as of the Closing Dates conflict with or result in a breach by the Purchaser of the terms, conditions or provisions of any
        agreement, instrument, order, judgment or decree to which the Purchaser is subject.

     

      

    C.          Investment Representations.

     

      

    (i)            The Purchaser is acquiring the Warrants
        and, upon exercise of the Warrants, the Shares issuable upon such exercise (collectively, the “Securities”), for the Purchaser’s own account, for
        investment purposes only and not with a view towards, or for resale in connection with, any public sale or distribution thereof.

     

      

    (ii)           The Purchaser is an “accredited investor” as such term is defined in Rule 501(a)(3) of Regulation D 
        under the Securities Act and the Purchaser has not experienced a disqualifying event as enumerated pursuant to Rule 506(d) of Regulation D under the Securities Act.

    

    

     

      

    (iii)          The Purchaser understands that the
        Securities are being offered and will be sold to it in reliance on specific exemptions from the registration requirements of the United States federal and state securities laws and that the Company is relying upon the truth and accuracy of, and the
        Purchaser’s compliance with, the representations and warranties of the Purchaser set forth herein in order to determine the availability of such exemptions and the
        eligibility of the Purchaser to acquire such Securities.

     

      

    (iv)          The Purchaser did not enter into this
        Agreement as a result of any general solicitation or general advertising within the meaning of Rule 502(c) under the Securities Act.

     

      

    (v)           The Purchaser has been furnished with all
        materials relating to the business, finances and operations of the Company and materials relating to the offer and sale of the Securities which have been requested by the Purchaser.  The Purchaser has been afforded the opportunity to ask questions
        of the executive officers and directors of the Company.  The Purchaser understands that its investment in the Securities involves a high degree of risk and it has sought such accounting, legal and tax advice as it has considered necessary to make
        an informed investment decision with respect to the acquisition of the Securities.

     

      

    (vi)          The Purchaser understands that no United
        States federal or state agency or any other government or governmental agency has passed on or made any recommendation or endorsement of the Securities or the fairness or suitability of the investment in the Securities by the Purchaser nor have
        such authorities passed upon or endorsed the merits of the offering of the Securities.

     

      

    (vii)         The Purchaser understands that: (a) the
        Securities have not been and are not being registered under the Securities Act or any state securities laws, and may not be offered for sale, sold, assigned or transferred unless (1) subsequently registered thereunder or (2) sold in reliance on an
        exemption therefrom; and (b) except as specifically set forth in the Registration Rights Agreement, neither the Company nor any other person is under any obligation to register the Securities under the Securities Act or any state securities laws or
        to comply with the terms and conditions of any exemption thereunder.

    
      4

      
        

    

    (viii)        The Purchaser has such knowledge and
        experience in financial and business matters, knowledge of the high degree of risk associated with investments in the securities of companies in the development stage such as the Company, is capable of evaluating the merits and risks of an
        investment in the Securities and is able to bear the economic risk of an investment in the Securities in the amount contemplated hereunder for an indefinite period of time.  The Purchaser has adequate means of providing for its current financial
        needs and contingencies and will have no current or anticipated future needs for liquidity which would be jeopardized by the investment in the Securities.  The Purchaser can afford a complete loss of its investments in the Securities.

     

      

    Section 4.          Conditions of the Purchaser’s Obligations.  The obligations of the Purchaser to purchase and pay for
        the Warrants are subject to the fulfillment, on or before the Closing Dates, of each of the following conditions:

     

      

    A.          Representations and Warranties.  The representations and warranties of the Company contained in Section 2
        shall be true and correct at and as of the Closing Dates as though then made.

     

      

    B.          Performance.  The Company shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that are required to be performed or complied with by it on or
        before the Closing Dates.

     

      

    C.          No Injunction.  No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by or in any court or governmental
        authority of competent jurisdiction or any self-regulatory organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions contemplated by this Agreement or the Warrant Agreement.

     

      

    D.          Warrant Agreement.  The Company shall have entered into a Warrant Agreement with a warrant agent on terms satisfactory to the Purchaser (the “Warrant Agreement”).

     

      

    Section 5.          Conditions of the Company’s Obligations.  The obligations of the Company to the Purchaser under this
        Agreement are subject to the fulfillment, on or before the Closing Dates, of each of the following conditions:

     

      

    A.          Representations and Warranties.  The representations and warranties of the Purchaser contained in Section 3
        shall be true and correct at and as of the Closing Dates as though then made.

     

      

    B.          Performance.  The Purchaser shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that are required to be performed or complied with by the
        Purchaser on or before the Closing Dates.

     

      

    C.          No Injunction.  No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by or in any court or governmental
        authority of competent jurisdiction or any self-regulatory organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions contemplated by this Agreement or the Warrant Agreement.

    
      5

      
        

    

    D.          Warrant Agreement.  The Company shall have entered into the Warrant Agreement.

     

      

    Section 6.          Termination.  This Agreement may be terminated at any time after December 31, 2019 upon the election
        by either the Company or a Purchaser entitled to purchase a majority of the Warrants upon written notice to the other parties if the closing of the Public Offering does not occur prior to such date.

     

      

    Section 7.          Survival of Representations and Warranties.  All of the representations and warranties contained
        herein shall survive the Closing Dates.

     

      

    Section 8.          Definitions.  Terms used but not otherwise defined in this Agreement shall have the meaning assigned
        to such terms in the Registration Statement.

     

      

    Section 9.          Miscellaneous.

     

      

    A.          Successors and Assigns.  Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement by or on behalf of any of the parties hereto shall bind and inure to
        the benefit of the respective successors of the parties hereto whether so expressed or not.  Notwithstanding the foregoing or anything to the contrary herein, the parties may not assign this Agreement, other than assignments by the Purchaser to
        affiliates thereof.

     

      

    B.          Severability.  Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is
        held to be prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement.

     

      

    C.          Counterparts.  This Agreement may be executed simultaneously in two or more counterparts, none of which need contain the signatures of more than one party, but all such counterparts taken together
        shall constitute one and the same agreement.

     

      

    D.          Descriptive Headings; Interpretation.  The descriptive headings of this Agreement are inserted for convenience only and do not constitute a substantive part of this Agreement.  The use of the word “including” in this Agreement shall be by way of example rather than by limitation.

     

      

    E.          Governing Law.  This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with and governed by the laws of New York applicable to contracts wholly
        performed within the borders of such state, without giving effect to the conflict of law principles thereof.  The parties hereto irrevocably submit to the exclusive jurisdiction of any federal court sitting in the Southern District of New York or
        any state court located in New York County, State of New York, over any suit, action or proceeding arising out of or relating to this Agreement.  To the fullest extent they may effectively do so under applicable law, the parties hereto irrevocably
        waive and agree not to assert, by way of motion, as a defense or otherwise, any claim that they are not subject to the jurisdiction of any such court, any objection that they may now or hereafter have to the laying of the venue of any such suit,
        action or proceeding brought in any such court and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum.

     

      

    F.           Amendments.  This letter agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed by all parties hereto.

     

      

    [Signature page follows]

    
      6

      
        

    

    
      IN WITNESS WHEREOF, the parties
        hereto have executed this Agreement to be effective as of the date first set forth above.

       

      

      	 	
              COMPANY:

            
	 	 
	 	
              SOUTH MOUNTAIN MERGER CORP.

            
	 	 
	 	
              By:

            	 
	 	 	
              Name:

            	
              Charles Bernicker

            
	 	 	
              Title:

            	
              Director and CEO

            

      

      

      	 	
              SOUTH MOUNTAIN LLC

            
	 	 	 	 
	 	
              By: Harbour Reach Holdings LLC, its managing member

            
	 	 	 	 
	 	
              By: Netherton Investments Limited, its managing member

            
	 	 	 	 
	 	
              By:

            	 
	 	 	
              Name:

            	
              Robert Heaselgrave

            
	 	 	
              Title:

            	
              Director

            

      

      

      
        [Signature Page to Private Placement Warrants Purchase Agreement]

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