Document:

Exhibit 10.1

 

[____], 2019

 

AGBA Acquisition Limited

Room 1108, 11th Floor, Block
B

New Mandarin Plaza, 14 Science
Museum Road

Tsimshatsui East, Kowloon, Hong
Kong

 

Maxim Group LLC

405 Lexington Ave

New York, NY 10174

 

		Re:	Initial Public Offering

 

Ladies and Gentlemen:

 

This letter is being
delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”) entered
into by and between AGBA Acquisition Limited, a British Virgin Islands company (the “Company”), and Maxim
Group LLC, as Representative (the “Representative”) of the several underwriters named on Schedule A thereto
(the “Underwriters”), relating to an underwritten initial public offering (the “IPO”)
of the Company’s units (the “Units”), each comprised of one ordinary share of the Company, par
value $0.001 per share (the “Ordinary Shares”), one redeemable warrant, each warrant entitling its holder
to purchase one-half (1/2) of one Ordinary Share at an exercise price of $11.50 per full share (the “Warrants”),
and one right to receive one-tenth (1/10) of one Ordinary Share (the “Rights”). Certain capitalized terms
used herein are defined in paragraph 14 hereof.

 

In order to induce the
Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition of the benefit
that such IPO will confer upon the undersigned, and for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the undersigned hereby agrees with the Company as follows:

 

1.          If
the Company solicits approval of its shareholders of a Business Combination, the undersigned will vote all Ordinary Shares beneficially
owned by him, her or it, whether acquired before, in or after the IPO, in favor of such Business Combination.

 

2.          (a)
Unless the Company’s stockholders are previously given the option to redeem their shares in connection with amending applicable
documents to extend the time that the Company has to complete a Business Combination and that the Company fails to consummate a
Business Combination within 12 months from the closing of the Company’s IPO (or, in the event that the Company extended the
period of time to consummate a business combination up to three times, each by an additional three months, within 21 months) from
the closing of the Company’s IPO, the undersigned shall take all reasonable steps to (i) cause the Trust Fund to be liquidated
and distributed to the holders of the IPO Shares and (ii) cause the Company to liquidate as soon as reasonably practicable.

 

     

     

    

 

(b) The undersigned
hereby waives any and all right, title, interest or claim of any kind in or to any distribution of the Trust Fund and any remaining
net assets of the Company as a result of such liquidation with respect to his, her or its Insider Shares [including any shares
underlying the Private Units]1 (“Claim”)
and hereby waives any Claim the undersigned may have in the future as a result of, or arising out of, any contracts or agreements
with the Company and will not seek recourse against the Trust Fund for any reason whatsoever. [The undersigned acknowledges and
agrees that there will be no distribution from the Trust Fund with respect to any Warrants or Rights underlying the Private Units,
all of which will terminate on the Company’s liquidation.]2

 

[ (c) In the event of
the liquidation of the Trust Fund, the undersigned agrees to indemnify and hold harmless the Company against any and all loss,
liability, claims, 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)
which the Company may become subject as a result of any claim by any vendor or other person who is owed money by the Company for
services rendered or products sold or contracted for, but only to the extent necessary to ensure that such loss, liability, claim,
damage or expense does not reduce the amount of funds in the Trust Fund; provided, that such indemnity shall not apply if such
vendor or other person has executed an agreement waiving any claims against the Trust Fund. ] 3

 

[ (d) In the event that
the Company does not consummate a Business Combination and must liquidate and its remaining net assets are insufficient to complete
such liquidation, the undersigned agrees to advance such funds necessary to complete such liquidation and agrees not to seek repayment
for such expenses.] 4

 

3.          [In
the event that the Company does not consummate a Business Combination and must liquidate and its remaining net assets are insufficient
to complete such liquidation, the undersigned agrees to advance such funds necessary to complete such liquidation and agrees not
to seek recourse for such expenses.]5

 

4.          The
undersigned will escrow all of his, her or its Insider Shares pursuant to the terms of a Stock Escrow Agreement, which the Company
will enter into with the undersigned and an escrow agent acceptable to the Company.

 

5.          [The
undersigned agrees that until the Company consummates a Business Combination, the undersigned’s Private Units will be subject
to the transfer restrictions described in the Subscription Agreement relating to the undersigned’s Private Units.]6

 

 

 

1 NTD: Only include for AGBA Holding Limited.

2 NTD: Only include for AGBA Holding Limited.

3 NTD: Only include for AGBA Holding Limited.

4 NTD: Only include for AGBA Holding Limited.

5 NTD: Only include for AGBA Holding Limited.

6 NTD: Only include for AGBA Holding Limited.

 

     

     

    

 

6.          In
order to minimize potential conflicts of interest which may arise from multiple affiliations, the undersigned agrees to present
to the Company for its consideration, prior to presentation to any other person or entity, any suitable opportunity to acquire
a target business, until the earlier of the consummation by the Company of a Business Combination or the liquidation of the Company,
subject to any pre-existing fiduciary and contractual obligations the undersigned might have.

 

7.          The
undersigned acknowledges and agrees that prior to entering into a Business Combination with a target business that is affiliated
with any Insiders of the Company or their affiliates, including any company that is a portfolio company of, or otherwise affiliated
with, or has received financial investment from, an entity with which any Insider or their affiliates is affiliated, such transaction
must be approved by a majority of the Company’s disinterested independent directors and the Company must obtain an opinion
from an independent investment banking firm that such Business Combination is fair to the Company’s unaffiliated shareholders
from a financial point of view.

 

8.          Neither
the undersigned, any member of the family of the undersigned, nor any affiliate of the undersigned will be entitled to receive
and will not accept any compensation or other cash payment prior to, or for services rendered in connection with, the consummation
of the Business Combination; provided that the Company shall be allowed to repay working capital loans made by the undersigned
to the Company in cash upon consummation of the Business Combination. Notwithstanding the foregoing, the undersigned and any affiliate
of the undersigned shall be entitled to reimbursement from the Company for their out-of-pocket expenses incurred in connection
with identifying, investigating and consummating a Business Combination.

 

9.          Neither
the undersigned, any member of the family of the undersigned, nor any affiliate of the undersigned will be entitled to receive
or accept a finder’s fee or any other compensation in the event the undersigned, any member of the family of the undersigned
or any affiliate of the undersigned originates a Business Combination.

 

10.         [The
undersigned agrees to be a director/officer of the Company until the earlier of the consummation by the Company of a Business
Combination or the liquidation of the Company. The undersigned’s biographical information previously furnished to the Company
and the Representative is true and accurate in all material respects, does not omit any material information with respect to the
undersigned’s biography and contains all of the information required to be disclosed pursuant to Item 401 of Regulation
S-K, promulgated under the Securities Act of 1933.]7
The undersigned’s FINRA Questionnaire previously furnished to the Company and the Representative is true and
accurate in all material respects. The undersigned represents and warrants that:

 

 

 

7 NTD: Only remove for AGBA Holding Limited.

 

     

     

    

 

		(a)	He, she or it has never had a petition under the federal
bankruptcy laws or any state insolvency law been filed by or against (i) him, her or it, or any partnership in which he or she
was a general partner at or within two years before the time of filing; or (ii) any corporation or business association of which
he or she was an executive officer at or within two years before the time of such filing;

 

		(b)	He, she or it has never had a receiver, fiscal agent
or similar officer been appointed by a court for his business or property, or any such partnership;

 

		(c)	He, she or it has never been convicted of fraud in a
civil or criminal proceeding;

 

		(d)	He, she or it has never been convicted in a criminal
proceeding or named the subject of a pending criminal proceeding (excluding traffic violations and minor offenses);

 

		(e)	He, she or it has never been the subject of any order,
judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily
enjoining or otherwise limiting him, her or it from (i) acting as a futures commission merchant, introducing broker, commodity
trading advisor, commodity pool operator, floor broker, leverage transaction merchant, any other person regulated by the Commodity
Futures Trading Commission (“CFTC”) or an associated person of any of the foregoing, or as an investment adviser,
underwriter, broker or dealer in securities, or as an affiliated person, director or employee of any investment company, bank,
savings and loan association or insurance company, or from engaging in or continuing any conduct or practice in connection with
any such activity; or (ii) engaging in any type of business practice; or (iii) engaging in any activity in connection
with the purchase or sale of any security or commodity or in connection with any violation of federal or state securities or federal
commodities laws;

 

		(f)	He, she, or it has never been the subject of any order,
judgment or decree, not subsequently reversed, suspended or vacated, of any federal or state authority barring, suspending or
otherwise limiting for more than 60 days his, her or its right to engage in any activity described in 10(e)(i) above, or to be
associated with persons engaged in any such activity;

 

		(g)	He, she, or it has never been found by a court of competent
jurisdiction in a civil action or by the SEC to have violated any federal or state securities law, where the judgment in such
civil action or finding by the SEC has not been subsequently reversed, suspended or vacated;

 

		(h)	He, she, or it has never been found by a court of competent
jurisdiction in a civil action or by the CFTC to have violated any federal commodities law, where the judgment in such civil action
or finding by the CFTC has not been subsequently reversed, suspended or vacated;

 

     

     

    

 

		(i)	He, she, or it has never been the subject of, or a party
to, any Federal, State or foreign judicial or administrative order, judgment, decree or finding, not subsequently reversed, suspended
or vacated, relating to an alleged violation of (i) any Federal, State or foreign securities or commodities law or regulation,
(ii) any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary
or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and desist
order, or removal or prohibition order or (iii) any law or regulation prohibiting mail or wire fraud or fraud in connection with
any business entity;

 

		(j)	He, she or it has never been the subject of, or party
to, any sanction or order, not subsequently reversed, suspended or vacated, or any self-regulatory organization, any registered
entity, or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons
associated with a member;

 

		(k)	He, she or it has never been convicted of any felony
or misdemeanor: (i) in connection with the purchase or sale of any security; (ii) involving the making of any false filing with
the SEC; or (iii) arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment
advisor or paid solicitor of purchasers of securities;

 

		(l)	He, she or it was never subject to a final order of a
state or foreign securities commission (or an agency of officer of a state performing like functions); a state or foreign authority
that supervises or examines banks, savings associations, or credit unions; a state or foreign insurance commission (or an agency
or officer of a state performing like functions); an appropriate federal or foreign banking agency; the CFTC; or the National
Credit Union Administration that is based on a violation of any law or regulation that prohibits fraudulent, manipulative, or
deceptive conduct;

 

		(m)	He, she or it has never been subject to any order, judgment
or decree of any court of competent jurisdiction, that, at the time of the sale of the Units, restrained or enjoined him, her
or it from engaging or continuing to engage in any conduct or practice: (i) in connection with the purchase or sale of any security;
(ii) involving the making of any false filing with the SEC or any foreign regulatory agency with similar functions; or (iii) arising
out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser or paid
solicitor of purchasers of securities;

 

     

     

    

 

		(n)	He, she or it has never been subject to any order of
the SEC or any foreign regulatory agency with similar functions that orders him, her or it to cease and desist from committing
or causing a future violation of: (i) any scienter-based anti-fraud provision of the federal securities laws, including, but not
limited to, Section 17(a)(1) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, Section 15(c)
and Section 206(1) of the Advisers Act or any other rule or regulation thereunder; or (ii) Section 5 of the Securities Act;

 

		(o)	He, she or it has never filed (as a registrant or issuer),
or been named as an underwriter in any registration statement or Regulation A offering statement filed with the SEC that was the
subject of a refusal order, stop order, or order suspending the Regulation A exemption, or is, currently, the subject of an investigation
or proceeding to determine whether a stop order or suspension order should be issued;

 

		(p)	He, she or it has never been subject to a United States
Postal Service false representation order, or is currently subject to a temporary restraining order or preliminary injunction
with respect to conduct alleged by the United States Postal Service to constitute a scheme or device for obtaining money or property
through the mail by means of false representations;

 

		(q)	He, she or it is not subject to a final order of a state
securities commission (or an agency of officer of a state performing like functions); a state authority that supervises or examines
banks, savings associations, or credit unions; a state insurance commission (or an agency or officer of a state performing like
functions); an appropriate federal banking agency; the CFTC; or the National Credit Union Administration that bars the undersigned
from: (i) association with an entity regulated by such commission, authority, agency or officer; (ii) engaging in the business
of securities, insurance or banking; or (iii) engaging in savings association or credit union activities;

 

		(r)	He, she or it is not subject to an order of the SEC entered
pursuant to section 15(b) or 15B(c) of the Securities Exchange Act of 1934 (the “Exchange Act”) or section 203(e)
or 203(f) of the Investment Advisers Act of 1940 (the “Advisers Act”) that: (i) suspends or revokes the undersigned’s
registration as a broker, dealer, municipal securities dealer or investment adviser; (ii) places limitations on the activities,
functions or operations of, or imposes civil money penalties on, such person; or (iii) bars the undersigned from being associated
with any entity or from participating in the offering of any penny stock; and

 

		(s)	He, she or it has never been suspended or expelled from
membership in, or suspended or barred from association with a member of, a securities self-regulatory organization (e.g., a registered
national securities exchange or a registered national or affiliated securities association) for any act or omission to act constituting
conduct inconsistent with just and equitable principles of trade.

 

     

     

    

 

  

11.         [The
undersigned has full right and power, without violating any agreement by which he, she or it is bound, to enter into this letter
agreement and to serve as a Director and/or officer of the Company.]8

 

11.         The
undersigned hereby waives his, her or its right to exercise redemption rights with respect to any Ordinary Shares owned or to be
owned by the undersigned, directly or indirectly, whether purchased by the undersigned prior to the IPO, in the IPO or in the aftermarket,
and agrees that he, she or it will not seek redemption with respect to or otherwise sell, such shares in connection with any vote
to approve a Business Combination with respect thereto, a vote to amend the provisions of the Company’s Amended and Restated
Memorandum and Articles of Association, or a tender offer by the Company prior to a Business Combination.

 

12.         The
undersigned hereby agrees to not propose, or vote in favor of, an amendment to the Company’s Amended and Restated Memorandum
and Articles of Association with respect to the Company’s pre-Business Combination activities prior to the consummation of
a Business Combination unless the Company offers holders of IPO Shares the right to receive their pro rata portion of the funds
then held in the Trust Fund.

 

13.         In
connection with Section 5-1401 of the General Obligations Law of the State of New York, this letter agreement shall be governed
by, and construed in accordance with, the laws of the State of New York without regard to principles of conflicts of law that would
result in the application of the substantive law of another jurisdiction. The parties hereto agree that any action, proceeding
or claim arising out of or relating in any way to this letter agreement shall be resolved through final and binding arbitration
in accordance with the International Arbitration Rules of the American Arbitration Association (“AAA”). The arbitration
shall be brought before the AAA International Center for Dispute Resolution’s offices in New York City, New York, will be
conducted in English and will be decided by a panel of three arbitrators selected from the AAA Commercial Disputes Panel and that
the arbitrator panel’s decision shall be final and enforceable by any court having jurisdiction over the party from whom
enforcement is sought. The cost of such arbitrators and arbitration services, together with the prevailing party’s legal
fees and expenses, shall be borne by the non-prevailing party or as otherwise directed by the arbitrators.

 

14.         As
used herein, (i) a “Business Combination” shall mean a merger, share exchange, asset acquisition, contractual
arrangement, share purchase, recapitalization, reorganization or other similar business combination with one or more businesses
or entities; (ii) “Insiders” shall mean all officers, directors and shareholders of the Company immediately
prior to the IPO; (iii) “Insider Shares” shall mean all of the Ordinary Shares of the Company acquired
by an Insider prior to the IPO and any Ordinary Shares underlying the Private Units; (iv) “IPO Shares”
shall mean the Ordinary Shares issued in the Company’s IPO; (v) [“Private Units” shall mean (x)
the Units purchased in the private placement taking place simultaneously with the consummation of the Company’s IPO and
(y) the additional Units that may be purchased in connection with the exercise of the over-allotment option by the underwriters
in the IPO as described in the Registration Statement;]9
(vi) “Registration Statement” means the registration statement on Form S-1 filed by the
Company with respect to the IPO; and (vii) “Trust Fund” shall mean the trust fund into which a portion
of the net proceeds of the Company’s IPO will be deposited.

 

 

 

8 NTD: Only remove for AGBA Holding Limited.

9 NTD: Only include for AGBA Holding Limited.

 

     

     

    

 

15.         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 transmission.

 

If to the Representative:

 

Maxim Group LLC

405 Lexington Ave

New York, NY 10174

Attn: Clifford A. Teller

Facsimile: (212) 895-3773

 

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

 

Hunter Taubman Fischer & Li LLC 

1450 Broadway, 26th Floor 

New York, New York 10018

Attn: Arila Zhou, Esq.

Fax No.: (212) 202-6380

 

If to the Company:

 

AGBA Acquisition Limited

Room 1108, 11th Floor, Block B 

New Mandarin Plaza, 14 Science Museum
Road 

Tsimshatsui East, Kowloon, Hong Kong 

Attn: Gordon Lee, Chief Executive Officer

 

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

 

Loeb & Loeb LLP

345 Park Avenue

New York, NY 10154

Attn: Giovanni Caruso, Esq.

Facsimile: (212) 504-3013

 

16.         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 party. 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
parties hereto and any successors and assigns thereof.

 

     

     

    

 

17.         The
undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations and
warranties set forth herein in proceeding with the IPO.

 

	 	[_____________]
	 	 
	 	 
	 	By:	              
	 	Name: [*] 
	 	Title: [*]Exhibit 10.2

 

INVESTMENT MANAGEMENT TRUST AGREEMENT

 

This Agreement is made as of [*], 2019 by
and between AGBA Acquisition Limited (the “Company”) and Continental Stock Transfer & Trust Company, as trustee
(“Trustee”).

 

WHEREAS, the Company’s registration
statement on Form S-1, No. 333-230804 (“Registration Statement”) for its initial public offering of securities (“IPO”)
has been declared effective as of the date hereof (“Effective Date”) by the Securities and Exchange Commission (capitalized
terms used herein and not otherwise defined shall have the meanings set forth in the Registration Statement); and

 

WHEREAS, Maxim Group LLC (“Maxim”
or the “Underwriter”) is acting as the lead underwriter in the IPO; and

 

WHEREAS, if a Business Combination is not
consummated within the initial 12 month period following the closing of the IPO, the Company’s insiders may extend such period
three times by an additional three-months each time, up to a maximum of 21 months in the aggregate, by depositing $400,000 (or
$460,000 if the Underwriters’ over-allotment option is exercised in full) into the Trust Account (as defined below) no later
than the 12 month anniversary of the IPO, the 15 month anniversary of the IPO or the 18 month anniversary of the IPO (each, an
“Applicable Deadline”), as applicable, for each three-month extension (each, an “Extension”), in exchange
for which they will receive promissory notes; and

 

WHEREAS, as described in the Registration
Statement, and in accordance with the Company’s Amended and Restated Memorandum and Articles of Association, $40,000,000
of the gross proceeds of the IPO and the net proceeds of a private placement taking place simultaneously therewith ($46,000,000
if the over-allotment option is exercised in full), plus any amount eventually deposited on account of any Extension, will be delivered
to the Trustee to be deposited and held in the Trust Account for the benefit of the Company and the holders of the Company’s
ordinary shares, $0.001 par value, issued in the IPO as hereinafter provided (the proceeds to be delivered to the Trustee, including
the proceeds from any loans in connection with an Extension, if any, will be referred to herein as the “Property”;
the shareholders for whose benefit the Trustee shall hold the Property will be referred to as the “Public Shareholders,”
and the Public Shareholders and the Company will be referred to together as the “Beneficiaries”); and

 

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

 

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 a segregated trust account (“Trust
Account”) established by the Trustee at J.P. Morgan Chase Bank, N.A. in the United States, maintained by 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 instruction of the Company, invest and reinvest the Property (i) in United States government treasury
bills, notes or bonds having a maturity of 185 days or less and/or (ii) in money market funds meeting certain conditions under
Rule 2a-7 promulgated under the Investment Company Act of 1940, as amended, and that invest solely in U.S. treasuries, as determined
by the Company; it being understood that the Trust Account will earn no interest while account funds are uninvested awaiting the
Company’s instructions hereunder and that Trustee may earn bank credits or other consideration;

 

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

 

(e)          Notify
the Company and Maxim of all communications received by it with respect to any Property requiring action by the Company;

 

(f)          Supply
any necessary information or documents as may be requested by the Company in connection with the Company’s preparation of
its tax returns;

 

(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; and

 

(i)          Commence
liquidation of the Trust Account only after and promptly after receipt of, and only in accordance with, the terms of a letter (“Termination
Letter”), in a form substantially similar to that attached hereto as either Exhibit A or Exhibit B, signed on behalf of the
Company by its President, Chief Executive Officer or Chairman of the Board and Secretary or Assistant Secretary and, in the case
of a Termination Letter in a form substantially similar to that attached hereto as Exhibit A, acknowledged and agreed to by Maxim,
and complete the liquidation of the Trust Account and distribute the Property in the Trust Account only as directed in the Termination
Letter and the other documents referred to therein; provided, however, that in the event that a Termination Letter has not been
received by the Trustee by the 12-month anniversary of the closing of the IPO (“Closing”) or, in the event that the
Company extended the time to complete the Business Combination for up to 21-months from the closing of the IPO but has not completed
the Business Combination within such 21-month period, the 21-month anniversary of the Closing, (“Last Date”), the Trust
Account shall be liquidated in accordance with the procedures set forth in the Termination Letter attached as Exhibit B hereto
and distributed to the Public Shareholders as of the Last Date.

 

    	 	2	 

     

    

 

(j)          Upon
receipt of an extension letter (“Extension Letter”) substantially similar to Exhibit D hereto at least five business
days prior to the Applicable Deadline, signed on behalf of the Company by an executive officer, and receipt of the dollar amount
specified in the Extension Letter on or prior to the Applicable Deadline, to follow the instructions set forth in the Extension
Letter.

 

(k)          Not
disburse any amounts from the Trust Account in connection with a Business Combination in the event that the amount per share to
be received by the redeeming Public Shareholders is less than $10.00 per share (plus the amount per share deposited in the Trust
Account pursuant to any Extension Letter).

 

(l)          In
connection with a Business Combination, before making disbursements to the Depository Trust Company, the Company or any other person,
disburse the per share amount to redeeming Public Shareholders (other than shares tendered through the Depository Trust Company)
that have tendered their shares directly to the Trustee.

 

(m)          Promptly
acknowledge and comply with any irrevocable instruction letter delivered in the form of Exhibit E delivered by the Company in connection
with the disbursement of funds to a Public Shareholder.

 

(n)          Promptly
acknowledge, in writing to any redeeming Public Shareholder and the Company, any irrevocable instruction letter in the form of
Exhibit F delivered by such redeeming Public Shareholder after the announcement by the Company of a proposed Business Combination
and promptly comply with any irrevocable written instruction letter in the form of Exhibit F delivered by such Public Shareholder
in connection with the disbursement of funds to such Public Shareholder if the Company has not notified the Trustee in writing
during the Objection Period that such irrevocable written instruction letter is a Non-Compliant Instruction Letter (as defined
below).

 

		2.	Limited Distributions of Income from Trust Account.

 

(a)          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, the Trustee shall distribute to the Company the amount of interest income earned on the Trust Account requested by
the Company to cover any income or other tax obligation owed by the Company.

 

(b)          The
limited distributions referred to in Section 2(a) above shall be made only from income collected on the Property. Except as provided
in Section 2(a), no other distributions from the Trust Account shall be permitted except in accordance with Section 1(i), 1(m),
and 1(n) hereof.

 

(c)          The
Company shall provide Maxim with a copy of any Termination Letters and/or any other correspondence that it issues to the Trustee
with respect to any proposed withdrawal from the Trust Account promptly after such issuance.

 

    	 	3	 

     

    

 

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

 

(a)          Give
all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, Chief Executive Officer,
President or Chief Financial Officer. In addition, except with respect to its duties under paragraphs 1(i), 2(a) and 2(b) above,
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 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 the provisions of Sections 5 and 7(g) of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against,
any and all expenses, including reasonable counsel fees and disbursements, or loss suffered by the Trustee in connection with any
claim, potential claim, 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 income earned from investment of the Property, except for expenses and losses resulting from the Trustee’s
gross negligence 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 paragraph, it shall
notify the Company in writing of such claim (hereinafter referred to as the “Indemnified Claim”); provided, however,
that the Trustee’s failure to provide such notice shall not relieve the Company of its liability hereunder, except to the
extent that it is materially prejudiced by such failure. 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 consent shall not be unreasonably withheld or delayed. The Company may participate in such action
with its own counsel;

 

(c)          Pay
the Trustee an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Sections
2(a) and 2(b) as set forth on Schedule A hereto, 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 and further agreed that any fees owed to the Trustee
shall be deducted by the Trustee from the disbursements made to the Company pursuant to Sections 1(i) solely in connection with
the consummation of the Company’s initial acquisition, share exchange, share reconstruction and amalgamation, purchase of
all or substantially all of the assets of, or any other similar business combination with one or more businesses or entities (a
“Business Combination”), or pursuant to Section 2(b). The Company shall pay the Trustee the initial acceptance fee
and first year’s fee at the consummation of the IPO and thereafter on the anniversary of the Effective Date;

 

    	 	4	 

     

    

 

(d)          In
connection with any vote of the Company’s shareholders regarding a Business Combination, provide to the Trustee an affidavit
or certificate of a firm regularly engaged in the business of soliciting proxies and/or tabulating shareholder votes verifying
the vote of the Company’s shareholders regarding such Business Combination; and

 

(e)          In
the event that the Company directs the Trustee to commence liquidation of the Trust Account pursuant to Section 1(i), the Company
agrees that it will not direct the Trustee to make any payments that are not specifically authorized by this Agreement.

 

(f)          Upon
receiving the written request of a Public Shareholder to do so at any time after the date hereof, provide such Public Shareholder
with a copy of any instruction provided to the Trustee pursuant to Section 1(i) or Section 1(j) along with any Notification (as
defined in Exhibit A), Instruction Letter (as defined in Exhibit A), applicable flow of funds memorandum (or similar document),
or any other notice delivered to the Trustee by the Company regarding the disbursement of Property from the Trust Account resulting
in the Property left in the Trust Account being less than $40,000,000 (or $46,000,000 if the Underwriters’ over-allotment
option is exercised in full) plus any amount eventually deposited on account of any Extension, which, in each case, shall specify
to whom the Property shall be disbursed (such written notice, a “Disbursement Notice” and the date such Public Shareholder
receives a Disbursement Notice, a “Disbursement Notice Date”). Each Disbursement Notice shall be delivered to such
Public Shareholder at least two business days prior to the disbursement of any Property pursuant to Section 1(i) or Section 1(j)
and no Property shall be disbursed from the Trust Account prior to the date that is two business days from the applicable Disbursement
Notice Date.

 

(g)          At
the request of any Public Shareholder who has removed shares from street name and holds such shares either in certificated or book-entry
form and, except if such shares are held in book-entry form, delivered such certificated shares to the Trustee for purposes of
redemption in connection with a Business Combination, concurrently with the delivery of such shares, solely if such shares are
certificated. to the Trustee, send an irrevocable written instruction letter in the form of Exhibit E to the Trustee directing
the Trustee to disburse no less than $10.00 per share (plus the amount per share deposited in the Trust Account pursuant to any
Extension Letter) to such Public Shareholder.

 

(h)          Following
receipt of a copy of an irrevocable written instruction letter in the form of Exhibit F delivered by a Public Shareholder who has
removed shares from street name and holds such shares either in certificated or book-entry form and, except if such shares are
held in book-entry form, delivered such certificated shares to the Trustee for purposes of redemption in connection with a Business
Combination to the Trustee, review such letter to confirm (i) such letter is in the form of Exhibit F, (ii) a Business Combination
has been announced on or prior to the date of such letter and (iii) the number of ordinary shares set forth on such letter to be
redeemed is not greater than the number of ordinary shares held by the applicable Public Shareholder. Solely if the Company cannot
confirm the requirements of clauses (i) through (iii) of this Section 3(h), but not for any other reason, then within two days
of the Company’s receipt of the applicable copy of the irrevocable written instruction letter in the form of Exhibit F (such
time period, the “Objection Period”), the Company will notify the applicable Public Shareholder and the Trustee in
writing that such irrevocable written instruction letter is a “Non-Compliant Instruction Letter” and that the Trustee
shall not comply with such letter.

 

    	 	5	 

     

    

 

(i)        If
applicable, the Company shall issue a press release at least three days prior to the Applicable Deadline announcing that, at least
five days prior to the Applicable Deadline, the Company received notice from the Company’s insiders that the insiders intend
to extend the Applicable Deadline;

 

(j)          Promptly
following the Applicable Deadline, disclose whether or not the term the Company has to consummate a Business Combination has been
extended.

 

		4.	Limitations of Liability. The Trustee shall have
no responsibility or liability to:

 

(a)          Take
any action with respect to the Property, other than as directed in paragraphs 1 and 2 hereof and the Trustee shall have no liability
to any party except for liability arising out of its own gross negligence or willful misconduct;

 

(b)          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;

 

(c)          Change
the investment of any Property, other than in compliance with paragraph 1(c);

 

(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 exercise of its own best judgment, except for its gross negligence 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), 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 is believed by the Trustee, in good faith, 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;

 

    	 	6	 

     

    

 

(g)          Verify
the correctness of the information set forth in the Registration Statement or to confirm or assure that any acquisition made by
the Company or any other action taken by it is as contemplated by the Registration Statement;

 

(h)          File
local, state and/or federal tax returns or information returns with any taxing authority on behalf of the Trust Account and payee
statements with the Company documenting the taxes, if any, payable by the Company or the Trust Account, relating to the income
earned on the Property;

 

(i)          Pay
any taxes on behalf of the Trust Account (it being expressly understood that the Property shall not be used to pay any such taxes
and that such taxes, if any, shall be paid by the Company from funds not held in the Trust Account or released to it under Section
2(a) hereof);

 

 (j)          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; and

 

(k)          Verify
calculations, qualify or otherwise approve Company requests for distributions pursuant to Section 1(i), 1(m), 1(n), 2(a) or 2(b)
above.

 

5.          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 3(b) or Section 3(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.

 

		6.	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 during which time the Trustee shall 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 days
of receipt of the resignation notice from the Trustee, the Trustee may submit an application to have the Property deposited with
any court in the State of New York or with the United States District Court for the Southern District of New York and upon such
deposit, the Trustee shall be immune from any liability whatsoever; or

 

    	 	7	 

     

    

 

(b)          At
such time that the Trustee has completed the liquidation of the Trust Account in accordance with the provisions of paragraph 1(i)
hereof, and distributed the Property in accordance with the provisions of the Termination Letter, this Agreement shall terminate
except with respect to Paragraph 3(b).

 

		7.	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 information, or of any change in its authorized personnel. In executing funds
transfers, the Trustee will 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. The Trustee shall not
be liable for any loss, liability or expense resulting from any error in the information or transmission of the wire.

 

(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. It
may be executed in several original or facsimile counterparts, each one of which shall constitute an original, and together shall
constitute but one instrument.

 

(c)          This
Agreement contains the entire agreement and understanding of the parties hereto with respect to the subject matter hereof. Except
for Sections 1(i), 1(k), 1(l), 1(m), 1(n), 3(g), 3(h) 7(c) and 7(h) (which may only be amended with the approval of the holders
of at least 50% of the ordinary shares sold in the IPO, provided that all Public Shareholders must be given the right to receive
a pro-rata portion of the trust account (no less than $10.00 per share plus the amount per share deposited in the Trust Account
pursuant to any Extension Letter) in connection with any such amendment), this Agreement or any provision hereof may only be changed,
amended or modified by a writing signed by each of the parties hereto; provided, however, that no such change, amendment or modification
may be made without the prior written consent of Maxim. As to any claim, cross-claim or counterclaim in any way relating to this
Agreement, each party waives the right to trial by jury. The Trustee may require from Company counsel an opinion as to the propriety
of any proposed amendment.

 

(d)          The
parties hereto consent to the jurisdiction and venue of any state or federal court located in the City of New York, Borough of
Manhattan, for purposes of resolving any disputes hereunder.

 

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

 

    	 	8	 

     

    

 

if to the Trustee, to:

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: Francis Wolf and Celeste Gonzalez

Email: fwolf@continentalstock.com

Email: cgonzalez@continentalstock.com

 

if to the Company, to:

 

AGBA Acquisition Limited

Room 1108, 11th Floor, Block B

New Mandarin Plaza, 14 Science Museum
Road

Tsimshatsui East, Kowloon, Hong
Kong

Attn: Gordon Lee

 

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

 

Maxim Group LLC

405 Lexington Ave

New York, NY 10174

Attn: Clifford A. Teller

Fax No.: (212) 895-3773

 

and

 

Loeb & Loeb LLP

345 Park Avenue

New York, New York 10154

Attn: Giovanni Caruso, Esq.

Fax No.: (212) 407-4990

 

and

 

Hunter Taubman Fischer & Li LLC

1450 Broadway, 26th Floor

New York, New York 10018

Attn: Arila Zhou, Esq.

Fax No.: (212) 202-6380

 

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

 

    	 	9	 

     

    

 

(g)          Each
of the Trustee and the Company 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.

 

(h)          Each
of the Company and the Trustee hereby acknowledge that Maxim is a third party beneficiary of this Agreement.

 

    	 	10	 

     

    

 

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
	 	 	 
	 	AGBA ACQUISITION LIMITED  
	 	 	 
	 	By:	 
	 	 	Name:  Gordon Lee
	 	 	Title: Chief Executive Officer

 

Signature Page to Investment Management Trust Agreement

 

     

     

    

 

SCHEDULE A

 

	Fee Item	Time and method of payment 	Amount
	Initial acceptance fee	Initial closing of IPO by wire transfer 	
        $3,500

         

	Annual fee	Initial closing of IPO by wire transfer; thereafter on the anniversary of the effective date of the IPO by wire transfer or check	$10,000
	Transaction processing fee for disbursements to Company under Section 2	Deduction by Trustee from accumulated income following disbursement made to Company under Section 2	$250
	Paying Agent services as required pursuant to section 1(i) 	Billed to Company upon delivery of service pursuant to section 1(i) 	
         

        Prevailing rates

         

 

     

     

    

 

EXHIBIT A

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: Francis Wolf and Celeste Gonzalez

 

		Re:	Trust Account No. [_____________] - Termination Letter

 

Gentlemen:

 

Pursuant to paragraph
1(i) of the Investment Management Trust Agreement between AGBA Acquisition Limited (“Company”) and Continental Stock
Transfer & Trust Company (“Trustee”), dated as of [*], 2019 (“Trust Agreement”), this is to advise
you that the Company has entered into an agreement with [__________________] (“Target Business”) to consummate a business
combination with Target Business (“Business Combination”) on or about [insert date]. The Company shall notify
you at least 48 hours in advance of the actual date of the consummation of the Business Combination (“Consummation Date”).
Capitalized terms used herein and not otherwise defined 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 the Trust Account investments on [__________] and to transfer
the proceeds to the above-referenced account at J.P. Morgan Chase Bank, N.A. to the effect that, on the Consummation Date, all
of funds held in the Trust Account will be immediately available for transfer to the account or accounts that the Company shall
direct on the Consummation Date. It is acknowledged and agreed that while the funds are on deposit in the trust account awaiting
distribution, the Company will not earn any interest or dividends.

 

On the Consummation Date
(i) counsel for the Company shall deliver to you written notification that the Business Combination has been consummated, and (ii)
the Company shall deliver to you (a) [an affidavit] [a certificate] of [__________________], which verifies the vote of the Company’s
shareholders in connection with the Business Combination if a vote is held and (b) joint written instructions from the Company
and Maxim Group LLC with respect to the transfer of the funds held in the Trust Account, which must provide for the disbursement
of no less than $10.00 per share plus the amount per share deposited in the Trust Account per Extension Letter to redeeming Public
Shareholders (“Instruction Letter”). You are hereby directed and authorized to transfer the funds held in the Trust
Account immediately upon your receipt of the counsel’s letter 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 of the same and the Company shall direct you as to whether such funds should
remain in the Trust Account and distributed after the Consummation Date to the Company. Upon the distribution of all the funds
in the Trust Account pursuant to the terms hereof, the Trust Agreement shall be terminated.

 

    	 	13	 

     

    

 

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 the Trust Agreement on the business day immediately
following the Consummation Date as set forth in the notice.

 

	 	Very truly yours,
	 	 
	 	AGBA ACQUISITION LIMITED 
	 	 
	 	By:	        
	 	Name:
	 	Title:
	 	 
	 	By:	 
	 	Name:
	 	Title:  

 

	Acknowledged and Agreed:	 
	 	 
	Maxim Group LLC	 
	 	 
	By: 	          	 
	Name:	 
	Title:	 

 

    	 	14	 

     

    

 

EXHIBIT B

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: Francis Wolf and Celeste Gonzalez

 

		Re:	Trust Account No. [______________] - Termination Letter

 

Gentlemen:

 

Pursuant to paragraph
1(i) of the Investment Management Trust Agreement between AGBA Acquisition Limited (“Company”) and Continental Stock
Transfer & Trust Company (“Trustee”), dated as of [*], 2019 (“Trust Agreement”), this is to advise
you that the Company has been unable to effect a Business Combination with a Target Company within the time frame specified in
the Company’s Amended and Restated Memorandum and Articles of Association, as described in the Company’s prospectus
relating to its IPO. Capitalized terms used herein and not otherwise defined 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 the Trust Account investments on [______________] and to
transfer the total proceeds to the Trust Operating Account at J.P. Morgan Chase, N.A.. to await distribution to the Public Shareholders.
The Company has selected [____________, 20__] as the effective date for the purpose of determining when the Public Shareholders
will be entitled to receive their share of the liquidation proceeds. It is acknowledged that no interest will be earned by the
Company on the liquidation proceeds while on deposit in the Trust Checking Account. You agree to be the Paying Agent of record
and in your separate capacity as Paying Agent, to distribute said funds directly to the Public Shareholders in accordance with
the terms of the Trust Agreement and the Amended and Restated Memorandum and Articles of Association of the Company. Upon the distribution
of all the funds in the Trust Account, your obligations under the Trust Agreement shall be terminated.

 

	 	Very truly yours,
	 	AGBA ACQUISITION LIMITED
	 	 
	 	By:	                  
	 	Name:
	 	Title:
	 	 
	 	By:	 
	 	Name:
	 	Title:  Secretary/Assistant Secretary

 

cc: Maxim Group LLC

 

    	 	15	 

     

    

 

EXHIBIT C

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: Francis Wolf and Celeste Gonzalez

 

		Re:	Trust Account No. [___________]

 

Gentlemen:

 

Pursuant to paragraph
2(a) of the Investment Management Trust Agreement between AGBA Acquisition Limited (“Company”) and Continental Stock
Transfer & Trust Company (“Trustee”), dated as of [*], 2019 (“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. The Company
needs such funds to pay for its tax obligations. 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]

 

	 	AGBA ACQUISITION LIMITED
	 	 
	 	By:	         
	 	Name:
	 	Title:
	 	 
	cc: Maxim Group LLC	 
	 	 

    	 	16	 

     

    

 

EXHIBIT D

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: Francis Wolf and Celeste Gonzalez

 

		Re:	Trust Account No. [______________] Extension Letter

 

Gentlemen:

 

Pursuant to Section 1(l) of the Investment
Management Trust Agreement between AGBA Acquisition Limited (“Company”) and Continental Stock Transfer & Trust
Company, dated as of [*], 2019 (“Trust Agreement”), this is to advise you that the Company is extending the time available
in order to consummate a Business Combination with the Target Businesses for an additional three (3) months, from _______ to _________
(the “Extension”).

 

This Extension Letter shall serve as the
notice required with respect to Extension prior to the Applicable Deadline. Capitalized words used herein and not otherwise defined
shall have the meanings ascribed to them in the Trust Agreement.

 

In accordance with the terms of the Trust
Agreement, we hereby authorize you to deposit [$400,000] [(or $460,000 if the underwriters’ over-allotment option was exercised
in full)], which will be wired to you, into the Trust Account investments upon receipt.

 

This is the ____ of up to three Extension
Letters.

 

	 	Very truly yours,
	 	 
	 	AGBA ACQUISITION LIMITED
	 	 
	 	By:	      
	 	Name:
	 	Title:
	 	 
	cc: Maxim Group LLC	 

 

    	 	17	 

     

    

 

EXHIBIT E

 

[Letterhead of Company]

 

[Insert date]

 

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: Francis Wolf and Celeste Gonzalez

 

		Re:	Trust Account No. [______________] - Irrevocable Instruction
in Connection with Business Combination

 

Gentlemen:

 

Pursuant to paragraphs 1(m) and 3(g) of
the Investment Management Trust Agreement between AGBA Acquisition Limited (“Company”) and Continental Stock Transfer
& Trust Company (“Trustee”), dated as of [*], 2019 (“Trust Agreement”), this constitutes our irrevocable
instruction to you to (i) in conjunction with the Business Combination (as defined in the Trust Agreement), disburse a per share
amount of $______, for a total disbursement of $__________________which is not less than $10.00 (plus the amount per share deposited
in the Trust Account pursuant to any Extension Letter) to ________________ (the “Shareholder”) for the _____________________
ordinary shares of the Company delivered to you prior to or concurrently herewith for redemption in connection with the Business
Combination, and (ii) deliver to the Shareholder the amounts specified in clause (i) prior to delivering and amounts to the Depository
Trust Company, the Company, or any person from whom you have not received an irrevocable instruction substantially similar to this
one. The Shareholder wire instructions are attached. We understand that a servicing fee of $250.00 will deducted from the payment.
A share advice or DWAC instruction from our broker is also attached.

 

The Company shall indemnify you and your
officers, directors, principals, partners, agents and representatives, and hold each of them harmless from and against any and
all loss, liability, damage, claim or expense (including the reasonable fees and disbursements of its attorneys) incurred by or
asserted against you or any of them arising out of or in connection with the instructions set forth herein, the performance of
your duties hereunder and otherwise in respect hereof, including the costs and expenses of defending yourself or themselves against
any claim or liability hereunder, except that the Company shall not be liable hereunder as to matters in respect of which it is
determined that you have acted with gross negligence or in bad faith. You shall have no liability to the Company in respect to
any action taken or any failure to act in respect of this if such action was taken or omitted to be taken in good faith, and you
shall be entitled to rely in this regard on the advice of counsel.

 

The Board of Directors of the Company has
approved the foregoing irrevocable instructions and does hereby extend the Company’s irrevocable agreement to indemnify your
firm for all loss, liability or expense in carrying out the authority and direction herein contained on the terms herein set forth.

 

     

     

    

 

The Shareholder is intended to be and is
a third party beneficiary of this letter and the irrevocable instructions set forth herein, and no amendment or modification to
the instructions set forth herein may be made without the prior written consent of the Shareholder.

 

By signing below, the person executing
this letter certifies that they are duly authorized to execute this letter on behalf of the Company and to bind the Company to
all of the terms and conditions contained herein.

 

[remainder of page intentionally left
blank]

 

     

     

    

 

	 	Very truly yours,
	 	 
	 	AGBA ACQUISITION LIMITED
	 	 	 
	 	By: 	            
	 	Name: 	 
	 	Title:	 

 

	Acknowledged and Agreed:	 
	 	 
	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Trustee	 
	 	 
	 	 
	Name:	 
	Title:	 
	 	 
	Cc: [SHAREHOLDER].	 

 

Attachments: 

Shareholder Wire Instructions

Share advice or instruction

 

     

     

    

 

EXHIBIT F

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: Francis Wolf and Celeste Gonzalez

 

		Re:	Trust Account No. [______________] - Irrevocable Instruction
in Connection with Business Combination

 

Gentlemen:

 

Pursuant to paragraphs 1(n) and 3(h) of
the Investment Management Trust Agreement between AGBA Acquisition Limited (“Company”) and Continental Stock Transfer
& Trust Company (“Trustee”), dated as of [*], 2019 (“Trust Agreement”), this constitutes our irrevocable
instruction to you to (i) in conjunction with the Business Combination (as defined in the Trust Agreement), disburse a per share
amount of $______, for a total disbursement of $_________________which is not less than $10.00 (plus the amount per share deposited
in the Trust Account pursuant to any Extension Letter) per share to ________________ (the “Shareholder”) for the _____________________
ordinary shares of the Company delivered to you prior to or concurrently herewith for redemption in connection with the Business
Combination, and (ii) deliver to the Shareholder the amounts specified in clause (i) prior to delivering and amounts to the Depository
Trust Company, the Company, or any person from whom you have not received an irrevocable instruction substantially similar to this
one. Our wire instructions are attached. We understand that a servicing fee of $250.00 will deducted from our payment. A share
advice or DWAC instruction from our broker is attached.

 

The Company shall indemnify you and your
officers, directors, principals, partners, agents and representatives, and hold each of them harmless from and against any and
all loss, liability, damage, claim or expense (including the reasonable fees and disbursements of its attorneys) incurred by or
asserted against you or any of them arising out of or in connection with the instructions set forth herein, the performance of
your duties hereunder and otherwise in respect hereof, including the costs and expenses of defending yourself or themselves against
any claim or liability hereunder, except that the Company shall not be liable hereunder as to matters in respect of which it is
determined that you have acted with gross negligence or in bad faith. You shall have no liability to the Company in respect to
any action taken or any failure to act in respect of this if such action was taken or omitted to be taken in good faith, and you
shall be entitled to rely in this regard on the advice of counsel.

 

The Board of Directors of the Company does
hereby extend the Company’s irrevocable agreement to indemnify your firm for all loss, liability or expense in carrying out
the authority and direction herein contained on the terms herein set forth.

 

No amendment or modification to the instructions set forth herein
may be made without the prior written consent of the Shareholder.

 

By signing below, the person executing this letter certifies
that they are duly authorized to execute this letter on behalf of the Shareholder and to bind the Shareholder to all of the terms
and conditions contained herein.

 

[remainder of page intentionally left
blank]

 

     

     

    

 

	 	Very truly yours,
	 	 	 
	 	[SHAREHOLDER]
	 	 	 
	 	By: 	                    
	 	Name: 	 
	 	Title:	 

 

Acknowledged and Agreed:

 

CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Trustee

 

	 	 
	Name:	 
	Title:	 

 

		Cc:	AGBA Acquisition Limited

 

Room 1108, 11th Floor, Block B 

New Mandarin Plaza, 14 Science Museum Road 

Tsimshatsui East, Kowloon, Hong Kong 

Attn: Gordon Lee , Chief Executive Officer

 

Attachments:

Shareholder Wire Instructions

Share advice or instruction

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