Document:

Exhibit 10.2

 

[●], 2021

 

890 5th Avenue Partners, Inc.

14 Elm Place, Suite 206

Rye, NY 10580

 

	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 among 890 5th Avenue Partners, Inc., a Delaware corporation
(the “Company”), Cowen and Company, LLC and Craig-Hallum Capital Group LLC, as the representatives (the
 “Representatives”) 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 28,750,000 of the Company’s units (including up to 3,750,000 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-third 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 12 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, 200 Park Avenue Partners, LLC, a Delaware
limited liability company (the “Sponsor”), PA 2 Co-Investment LLC, a Delaware limited liability
company (“Cowen Investments”), and Craig-Hallum Capital Group LLC, a Minnesota limited liability
company (solely in its capacity as a holder of Founder Shares and 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,
and collectively with its affiliates who are holders of Founder Shares and 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, “Craig-Hallum” and together with the Sponsor and Cowen Investments, the
 “Holders”), and the other undersigned persons (each such other undersigned persons, an
 “Insider” and collectively, the “Insiders”), each hereby agrees, with
respect to itself, himself or herself only and severally but not jointly, with the Company as follows:

 

1. The Sponsor, Cowen Investments, Craig-Hallum
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 Investments, Craig-Hallum
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, Craig-Hallum
and each Insider hereby agrees that in the event that the Company fails to consummate a Business Combination within 24 months from
the closing of the Public Offering, 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, Craig-Hallum 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, Craig-Hallum 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 24 months from the
closing of the Public Offering 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, Craig-Hallum
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, Craig-Hallum 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 24 months from the closing of the Public Offering 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 24 months from the date of the closing of the Public Offering).

 

3. Without limiting Cowen Investments’
and Craig-Hallum’s 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, neither Cowen Investments nor Craig-Hallum shall 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 Representatives, 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, Craig-Hallum and each Insider shall
not, without the prior written consent of the Representatives, (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, or any 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. 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 3,750,000 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 821,741 multiplied by a fraction, (i) the numerator of which is 3,750,000 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 3,750,000. (y) Cowen Investments agrees that it shall forfeit, at no cost, a number of Founder Shares in the aggregate
equal to 81,030 multiplied by a fraction, (i) the numerator of which is 3,750,000 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 3,750,000
and (z) Craig-Hallum agrees that it shall forfeit, at no cost, a number of Founder Shares in the aggregate equal to 34,729
multiplied by a fraction, (i) the numerator of which is 3,750,000 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 3,750,000. 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 3,750,000 in the numerator and denominator of the
formula in the first sentence of this paragraph shall be changed to a number equal to 15.0% of the number of shares of Class A
Common Stock included in the Units issued in the Public Offering, (B) the reference to 821,741, 81,030 and 34,729 in the formulas
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 approximately 17.53% of the Company’s issued and outstanding Shares after the Public Offering
(not including the Private Placement Shares), 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 approximately 1.73%
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 Craig-Hallum would have to return to the Company in order for the number of Founder Shares
that Craig-Hallum owns to equal an aggregate of approximately 0.74% 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 each of Cowen Investments and Craig-Hallum 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 or Craig-Hallum a limited irrevocable power of attorney to effect such forfeiture or Sponsor Modification
on behalf of Cowen Investments and Craig-Hallum, which power of attorney shall be deemed to be coupled with an interest.

 

6. The Sponsor, Cowen Investments, Craig-Hallum
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, Craig-Hallum or Insider of its, his or her obligations under paragraphs 1,
2, 3, 4, 5, 7(a), 7(b) and 9 of this Letter Agreement, (ii) monetary damages may not be an adequate remedy for such breach
and (iii) the non-breaching party shall be entitled to 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,
Craig-Hallum 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) 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 or (y) 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 (the “Founder Shares Lock-Up Period”).

 

(b) The Sponsor, Cowen Investments,
Craig-Hallum and each Insider agree that it, he or she shall not Transfer any Private Placement Units, including the Private Placement
Shares and one-third 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, Craig-Hallum 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. Each of the Sponsor, Cowen Investments,
Craig-Hallum and each Insider represents and warrants that it, he or she has never been suspended or expelled from membership in
any securities or commodities exchange or association or had a securities or commodities license or registration denied, suspended
or revoked. Each Insider’s biographical information furnished to the Company, 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’s, Cowen Investments’, Craig-Hallum’s and each Insider’s questionnaire furnished
to the Company, if any, is true and accurate in all respects. Each of the Sponsor, Cowen Investments, Craig-Hallum and each Insider
represents and warrants 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. Subject to the following sentence,
each Insider hereby agrees not to participate in the formation of, or become an officer or director of, any other special
purpose acquisition company with a stated focus on the technology, media and telecommunications industry until the Company
has entered into a definitive agreement regarding a Business Combination or the Company has failed to complete a Business
Combination within 24 months after the closing of the Public Offering. For the avoidance of doubt and notwithstanding the
foregoing, each Insider may participate in the formation of, or become an officer or director of, any other special purpose
acquisition company that does not have a stated focus on the technology, media and telecommunications industry (including
those with a stated focus on health technology or medical technology) or that is a successor company to an existing special
purpose acquisition company in which any of them is interested at any time and whether or not the Company has entered into a
definitive agreement regarding a Business Combination. For the avoidance of doubt, this Section 9 does not apply to Cowen and Company, LLC, Cowen Investments or Craig-Hallum.

 

10. Except as disclosed in, or as expressly
contemplated by, the Prospectus, none of the Sponsor, Cowen Investments, Craig-Hallum nor any Insider nor any affiliate of the
Sponsor, Cowen Investments, Craig-Hallum or any Insider, nor any other director or officer of the Company or nominee, 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).

 

11. Each of the Sponsor, Cowen Investments,
Craig-Hallum and each Insider represents and warrants that it, he or she has full right and power, without violating any agreement
to which it, he or she 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.

 

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12. 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 7,187,500 shares of Class F
common stock, par value $0.0001 per share, issued and outstanding immediately prior to the consummation of the Public Offering
(up to 937,500 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, Craig-Hallum and any Insider that holds Founder Shares; (v) “Private Placement Shares”
shall mean the 702,500 shares of Class A Common Stock underlying the Private Placement Units (or 777,500 shares of Class A
Common Stock if the over-allotment option is exercised in full); (vi) “Private Placement Units”
shall mean the 702,500 units of the Company (or 777,500 units if the over-allotment option is exercised in full) that the Holders
have agreed to purchase for an aggregate purchase price of $7,025,000 in the aggregate (or $7,775,000 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) of this sentence.

 

13. 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.

 

14. 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, Craig-Hallum
and each Insider and their respective successors, heirs and assigns and permitted transferees.

 

15. 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 Representatives.

 

16. 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.

 

17. 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.

 

18. 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.

 

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19. 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.

 

20. 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.

 

21. 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 June 30, 2021; provided further that paragraph 4 of this Letter Agreement shall survive such liquidation.

 

[Signature page follows]

 

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	 	Sincerely,
	 	 	 
	 	200 Park Avenue Partners, LLC
	 	 	 
	 	By:	 
	 	 	Name: 	Adam Rothstein
	 	 	Title: 	Manager
	 	 	 
	 	PA 2 Co-Investment LLC
	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title: 	 
	 	 	 
	 	Craig-Hallum Capital Group LLC
	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title: 	 

 

	 	 
	 	Adam Rothstein 
	 	 
	 	 
	 	Emiliano Calemzuk 
	 	 
	 	 
	 	Michael Del Nin 
	 	 
	 	 
	 	Linda Yaccarino 
	 	 
	 	 
	 	Kelli Turner 
	 	 
	 	 
	 	David Bank 
	 	 
	 	 
	 	Scott Flanders 
	 	 
	 	 
	 	Jon Jashni 
	 	 
	 	 

 

	Acknowledged and Agreed: 	 
	 	 	 
	890 5th Avenue Partners, Inc.	 
	 	 	 
	By:	 	 
	Name:  	 Adam Rothstein	 
	Title:	 Executive Chairman	 

 

[Signature
Page to Letter Agreement]Exhibit 10.3

 

INVESTMENT
MANAGEMENT TRUST AGREEMENT

 

This Investment Management Trust Agreement
(this “Agreement”) is made effective as of [●], 2021, by and between 890 5th Avenue Partners, Inc.,
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. 333-251650 (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-third 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 and Craig-Hallum Capital
Group LLC, as representatives (the “Representatives”) 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”), $250,000,000 of the aggregate proceeds of the Offering and sale of the Private
Placement Units (as defined in the Underwriting Agreement) (or $287,500,000, if the Underwriters’ over-allotment option is
exercised in full) will be delivered to the Trustee to be deposited and held in a segregated trust account located 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 [●], 2021, with the Representatives, pursuant to which the
Company will pay the Representatives 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
Representatives 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 Executive Chairman, Chief Executive Officer, Chief Financial Officer, 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 Representatives, 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) 24 months
after the closing of the Offering 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;

 

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(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 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. 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, Executive Chairman, Chief Executive Officer, Chief Financial
Officer, 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 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;

 

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(e) Provide the Representatives 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 Representatives respectively 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;

 

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(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

 

(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, PA 2 Co-Investment LLC, Craig-Hallum Capital Group LLC and its affiliates or 200 Park Avenue Partners, 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.

 

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(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 F 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 F 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 and cgonzalez@continentalstock.com

 

if to the Company, to:

 

890 5th Avenue Partners, Inc.

14 Elm Place, Suite 206

Rye, NY 10580

Attn: Adam Rothstein

Email:  [●]

 

in each case, with copies to:

 

BraunHagey & Borden LLP

351 California Street, 10th Floor

San Francisco, CA 94104

Attn: Daniel J. Harris, Esq. and Jason R. Sanderson, Esq.

Email:  harris@braunhagey.com and sanderson@braunhagey.com

 

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and:

 

Greenberg Traurig, P.A.

333 S.E. 2nd Avenue

Miami, FL 33131

Attn: Alan I. Annex, Esq. and Win Rutherfurd, Esq.

Email:  annexa@gtlaw.com and rutherfurdw@gtlaw.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 Representatives on behalf of the Underwriters are third party beneficiaries 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]

 

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

 

	 	CONTINENTAL STOCK TRANSFER &
	 	TRUST COMPANY, as Trustee
	 	 	 
	 	By:	 
	 	Name:	Francis Wolf
	 	Title:	Vice President
	 	 	 
	 	890 5th Avenue Partners, Inc.
	 	 	 
	 	By:	 
	 	Name:	 Adam Rothstein
	 	Title:	 Executive Chairman

 

[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 890 5th Avenue Partners, Inc. (the “Company”) and Continental Stock
Transfer & Trust Company (the “Trustee”), dated as of _________, 2021 (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 Representatives 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 Representatives 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 Representatives 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,
	 	 
	 	890 5th Avenue Partners, Inc.
	 	 
	 	By:	   
	 	Name:	 
	 	Title:	 

 

	Acknowledged and Agreed:	 
	 	 
	Cowen and Company, LLC	 
	 	 
	By:	           	 
	Name:	 	 
	Title:	 	 
	 	 	 
	Craig-Hallum Capital Group LLC	 
	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 

 

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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. Gonzalez:

 

Pursuant to Section 1(i) of the Investment
Management Trust Agreement between 890 5th Avenue Partners, Inc. (the “Company”) and Continental Stock
Transfer & Trust Company (the “Trustee”), dated as of _________, 2021 (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,
	 	 
	 	890 5th Avenue Partners, Inc.
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

	cc:	Cowen and Company, LLC
	 	Craig-Hallum Capital Group LLC

 

 

1
24 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. Gonzalez:

 

Pursuant to Section 1(j) of
the Investment Management Trust Agreement between 890 5th Avenue Partners, Inc. (the “Company”) and Continental
Stock Transfer & Trust Company (the “Trustee”), dated as of _________, 2021 (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,
	 	 
	 	890 5th Avenue Partners, Inc.
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

	cc:	Cowen and Company, LLC
	 	Craig-Hallum Capital Group 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 890 5th Avenue Partners, Inc. (the “Company”) and Continental
Stock Transfer & Trust Company (the “Trustee”), dated as of _________, 2021 (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,
	 	 
	 	890 5th Avenue Partners, Inc.
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

	cc:	Cowen and Company, LLC
	 	Craig-Hallum Capital Group LLC

 

    D-1

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