Document:

Exhibit 10.1

    

    

    Execution Version

    

    

    September 17, 2020

    

    

    North Mountain Merger Corp.

    767 Fifth Avenue, 9th Floor

    New York, NY 10153

    

    

    	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”) to be entered into by and among North Mountain Merger Corp., a Delaware corporation (the “Company”) and Citigroup Global Markets Inc. (the “Representative”), relating to an underwritten initial public offering (the “Public Offering”), of 13,225,000 of
      the Company’s units (including up to 1,725,000 units that may be purchased to cover over-allotments, if any) (the “Units”), each comprised of one share of the Company’s Class A common stock, par value $0.0001 per share (the “Common

          Stock”), and one-half of one redeemable warrant.  Each whole Warrant (each, a “Warrant”)
      entitles the holder thereof to purchase one share of 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 U.S. Securities and Exchange Commission (the “Commission”) and the Company has applied to have the Units listed on the Nasdaq.  Certain capitalized terms used herein are defined in paragraph 11 hereof.

    

    

    In order to induce the Company and the Representative 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, North Mountain LLC (the “Sponsor”) and each of the undersigned individuals, each of whom is a member of
      the Company’s board of directors and/or management team (each, an “Insider” and collectively,
      the “Insiders”), which term, for the avoidance of doubt, shall not include the Sponsor or any members or managers of the Sponsor
      other than those members or managers who are also members of the Company’s board of directors and/or management team)), hereby severally (and not jointly and severally) agrees with the Company as follows:

    

    

    1.          The Sponsor and each Insider agrees 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 of Capital Stock owned by it, him or her in favor of any proposed Business Combination and (ii) not redeem any shares of Common Stock 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 and each Insider agrees that it, he or she will not sell or tender any shares of Capital Stock owned by it, him or her in connection therewith.

    

    

    
      
        

    

    
    

    

    2.          The Sponsor 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 “Charter”), the Sponsor 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 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 (net of amounts withdrawn to fund the regulatory compliance costs and to pay the Company’s taxes (“Permitted Withdrawals”))
      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), subject to applicable law, 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 other requirements of applicable law.  The Sponsor and each Insider agree to not propose any amendment to the Charter that would modify the substance or timing of the Company’s
      obligation to redeem 100% of the Offering Shares if the Company does not complete a Business Combination within the required time period set forth in the Charter or with respect to any other material provisions 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 (net of Permitted Withdrawals), divided by the number of then outstanding Offering Shares.

    

    

    The Sponsor and each Insider acknowledges 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 as a result of any liquidation of the
      Company with respect to the Founder Shares held by it, him or her.  The Sponsor and each Insider hereby further waive, with respect to any shares of Common Stock held by it, him or her, if any, any redemption rights it, he or she may have in
      connection with 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 Common Stock (although the Sponsor, the Insiders and their respective affiliates 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 the time period set forth in the Charter or in connection with a stockholder vote to approve an amendment to the Charter to modify the substance or timing of the Company’s obligation to
      redeem 100% of the Offering Shares if the Company does not complete a Business Combination within the time period set forth in the Charter or with respect to any other material provisions relating to stockholders' rights or pre-initial business
      combination activity).

    

    

    
      2

      
        

    

    

    

    3.          During the period commencing on the effective date of the Underwriting Agreement and ending 180 days after such date, the Sponsor and each Insider shall not, without the prior written
      consent of the Representative, (i) sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree to dispose of, directly or indirectly, or establish or increase a put equivalent
      position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations of the Commission promulgated thereunder, with
      respect to any Units, shares of Capital Stock, Warrants or any securities convertible into, or exercisable, or exchangeable for, shares of Common Stock owned by it, him or her, (ii) enter into any swap or other arrangement that transfers to another,
      in whole or in part, any of the economic consequences of ownership of any Units, shares of Capital Stock, Warrants or any securities convertible into, or exercisable, or exchangeable for, shares of Common Stock owned by it, him or her, whether any
      such transaction is to be settled by delivery of such securities, in cash or otherwise, or (iii) publicly announce any intention to effect any transaction specified in clause (i) or (ii).  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 shall 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.  Any such release or waiver granted shall only be effective two business days after the publication date of such press release.  The provisions of this paragraph will not apply if (i)
      the release or waiver is effected solely to permit a transfer of securities without 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.

    

    

    4.          In the event of the liquidation of the Trust Account, the Sponsor (which for purposes of clarification shall not extend to any other shareholders, members or managers of the Sponsor or any
      other Insider) 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 for services rendered or products sold to the Company or
      (ii) any prospective target business with which the Company has entered into a letter of intent, confidentiality or other similar agreement for a Business Combination (a “Target”); provided, however, that such indemnification of the Company by the Sponsor (x) shall apply only to the extent necessary to
      ensure that such claims by a third party or a Target do not reduce the amount of funds in the Trust Account to below the lesser of (i) $10.00 per Offering Share or (ii) the actual amount per Offering Share held in the Trust Account as of the date of
      the liquidation of the Trust Account, if less than $10.00 per Offering Share is then held in the Trust Account due to reductions in the value of the trust assets less Permitted Withdrawals, (y) shall not apply to any claims by a third party
      (including a Target) that executed a waiver of any and all rights to the monies held in the Trust Account (whether or not such waiver is enforceable) and (z) shall not apply to any claims under the Company’s
      indemnity of the Representative against certain liabilities, including liabilities under the Securities Act of 1933, as amended.  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.  For the avoidance of doubt, none of the Company’s officers or directors
      will indemnify the Company for claims by third parties, including, without limitation, claims by vendors and prospective target businesses.

    

    

    
      3

      
        

    

    

    

    5.          To the extent that the Representative does not exercise its over-allotment option to purchase up to an additional 1,725,000 Units within 45 days from the date of the Prospectus (and as
      further described in the Prospectus), the Sponsor agrees to forfeit, at no cost, a number of Founder Shares in the aggregate equal to the product of 431,250 multiplied by a fraction, (i) the numerator of which is 1,725,000 minus the number of Units
      purchased by the Representative upon the exercise of its over-allotment option, and (ii) the denominator of which is 1,725,000. The forfeiture will be adjusted to the extent that the over-allotment option is not exercised in full by the
      Representative so that the Initial Stockholders will own an aggregate of 20.0% of the Company’s issued and outstanding shares of Capital Stock after the Public Offering.  To the extent that the size of the Public
      Offering is increased or decreased, the Company will effect a capitalization or share repurchase, redemption or stock split or other appropriate mechanism, as applicable, immediately prior to the consummation of the Public Offering in such amount as
      to maintain the ownership of the Capital Stock of the Initial Stockholders prior to the Public Offering at 20.0% of the Company’s issued and outstanding Capital Stock upon the consummation of the Public Offering. 
      In connection with such increase or decrease in the size of the Public Offering, (A) references to 1,725,000 in the numerator and denominator of the formula in the first sentence of this paragraph shall be changed to a number equal to 15% of the
      number of shares included in the Units issued in the Public Offering and (B) the reference to 431,250 in the formula set forth in the immediately preceding sentence shall be adjusted to such number of Founder Shares that the Sponsor would have to
      return to the Company in order to hold (with all of the Initial Stockholders) an aggregate of 20.0% of the Company’s issued and outstanding Capital Stock after the Public Offering.

    

    

    6.          The Sponsor and each Insider hereby agrees and acknowledges that: (i) the Representative and the Company would be irreparably injured in the event of a breach by such Sponsor or an Insider
      of its, his or her obligations under paragraphs 1, 2, 3, 4, 5, 7(a), 7(b), and 9, as applicable, 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
      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 and each Insider agree that it or he shall not Transfer any Founder Shares (or shares of Common Stock issuable upon conversion thereof) until the earlier of (A) one
      year after the completion of the Company’s initial Business Combination or (B) subsequent to the Business Combination, (x) if the closing price of the Common Stock equals or exceeds $12.00 per share (as adjusted
      for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Company’s initial Business
      Combination or (y) the date on which the Company completes a liquidation, merger, capital stock exchange, reorganization or other similar transaction that results in all of the Company’s stockholders having the
      right to exchange their shares of Common Stock for cash, securities or other property (the “Founder Shares Lock-up Period”).

    

    

    (b)          The Sponsor and each Insider agree that it, he or she shall not Transfer any Private Placement Warrants (or shares of Common Stock issued or issuable upon the exercise of the Private
      Placement Warrants) until 30 days after the completion of a Business Combination (the “Private Placement Warrants Lock-up Period”,
      together with the Founder Shares Lock-up Period, the “Lock-up Periods”).

    

    

    
      4

      
        

    

    

    

    (c)          Notwithstanding the provisions set forth in paragraphs 3 and 7(a) and (b), Transfers of the Founder Shares, Private Placement Warrants and shares of 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, 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 Sponsor, or any affiliates of the Sponsor; (b) in the
      case of an individual, transfers by gift to a member of the individual’s immediate family, 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, transfers by virtue of laws of descent and distribution upon death of the individual; (d) in the case of an individual, transfers pursuant to a
      qualified domestic relations order; (e) transfers by private sales or transfers made in connection with the consummation of a Business Combination at prices no greater than the price at which the securities were originally purchased; (f) transfers in
      the event of the Company’s liquidation prior to the completion of an initial Business Combination; (g) transfers by virtue of the laws of the State of Delaware or the Sponsor’s limited liability company agreement
      upon dissolution of the Sponsor; (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 Company’s public stockholders having the right to exchange
      their shares of Class A common stock for cash, securities or other property subsequent to the completion of the initial business combination; (i) to a nominee or custodian of a person or entity to whom a disposition or transfer would be permissible
      under clauses (a) through (h) above; provided, however, that in the case of clauses (a) through (e) and (i), these permitted transferees must enter into a written agreement with the Company agreeing to be bound by the transfer
      restrictions herein and the other restrictions contained in this Agreement (including provisions relating to voting, the Trust Account and liquidating distributions).

    

    

    8.          The Sponsor and each Insider represent and warrant that it, he or she has never been suspended or expelled from membership in any securities or commodities exchange or association or had a
      securities or commodities license or registration denied, suspended or revoked.  Each Insider’s biographical information furnished to the Company (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 the Insider’s background.  The Sponsor and each Insider’s questionnaire furnished to the
      Company is true and accurate in all respects.  The Sponsor and each Insider represents and warrants that: it, he or she 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, he or she 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, he or she is not currently a defendant in any such criminal proceeding.

    

    

    
      5

      
        

    

    

    

    9.          Except as disclosed in the Prospectus, neither any Sponsor nor any Insider nor any affiliate of the Sponsor or any Insider, nor any director or officer of the Company, shall receive from
      the Company any finder’s fee, reimbursement, consulting fee, monies in respect of any repayment of a loan or other compensation prior to, or in connection with any services rendered in order to effectuate the consummation of the Company’s initial
      Business Combination (regardless of the type of transaction that it is), other than the following, none of which will be made from the proceeds held in the Trust Account prior to the completion of the initial Business Combination: repayment of a loan
      and advances of up to $300,000 made to the Company by the Sponsor to cover expenses related to the organization of the Company and the Public Offering; payment to an affiliate of the Sponsor for office space and/or support services for a total of
      $10,000 per month; reimbursement for any reasonable out-of-pocket expenses related to identifying, investigating and consummating an initial Business Combination, and repayment of loans, if any, and on such terms as to be determined by the Company
      from time to time, made by the Sponsor or certain of the Insiders to finance transaction costs in connection with an intended initial Business Combination, provided, that, if the Company does not consummate an initial Business Combination, a portion
      of the working capital held outside the Trust Account may be used by the Company to repay such loaned amounts so long as no proceeds from the Trust Account are used for such repayment. Up to $1,500,000 of such loans may be convertible into warrants
      of the post Business Combination entity at a price of $1.00 per warrant at the option of the lender. Such warrants would be identical to the Private Placement Warrants.

    

    

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

    

    

    11.          As used herein, (i) “Business Combination” shall mean a merger,
      capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination, involving the Company and one or more businesses; (ii) “Capital Stock” shall mean, collectively, the Common Stock and the Founder Shares; (iii) “Founder Shares” shall
      mean the 3,306,250 shares of the Company’s Class B common stock, par value $0.0001 per share, (or 2,875,000 shares if the over-allotment option is not exercised by the Representative) initially held by the
      Sponsor; (iv) “Initial Stockholders” shall mean the Sponsor and any other holder of Founder Shares immediately prior to the Public
      Offering; (v) “Private Placement Warrants” shall mean the warrants to purchase up to 3,800,000 shares of Common Stock of the
      Company (or 4,145,000 shares of Common Stock if the over-allotment option is exercised in full) that the Sponsor has agreed to purchase for an aggregate purchase price of $3,800,000 in the aggregate (or $4,145,000 if the over-allotment option is
      exercised in full), or $1.00 per warrant, in a private placement that shall occur simultaneously with the consummation of the Public Offering; (vi) “Public Stockholders” shall mean the holders of securities issued in the Public Offering; (vii) “Trust Account” shall
      mean the trust fund into which a portion of the net proceeds of the Public Offering and the sale of the Private Placement Warrants shall be deposited; and (viii) “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 Exchange Act 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).

    

    

    
      6

      
        

    

    

    

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

    

    

    13.          Except as otherwise provided herein, 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 and each Insider and their respective successors, heirs and assigns and permitted transferees.

    

    

    14.          Nothing in this Letter Agreement shall be construed to confer upon, or give to, any person or entity 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.

    

    

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

    

    

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

    

    

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

    

    

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

    

    

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

    

    

    [Signature Page Follows]

    

    

    
      7

      
        

    

    

    

    	 	
            Sincerely,

          
	 	 	 	 
	 	
            NORTH MOUNTAIN MERGER CORP.

          
	 	 	 	 
	 	
            By:

          	
            /s/ Charles B. Bernicker

          
	 	 	
            Name:

          	
            Charles B. Bernicker

          
	 	 	
            Title:

          	
            Chief Executive Officer

          

    

    

    

    

    

    

    

    

    [Signature Page to Letter Agreement]

    
      
        

    

    

    

    Acknowledged and Agreed:

    

    

    AGREED TO AND ACCEPTED BY:

    

    

    	
            NORTH MOUNTAIN LLC

          
	 	 	 	 	 	 
	 	
            By:

          	
            Harbour Reach Holdings LLC, its managing member

          
	 	 	 	 	 	 
	 	 	
            By:

          	
            Netherton Investments Limited, its managing member

          
	 	 	 	 	 	 
	 	 	 	
            By:

          	
            /s/ Mike Bell

          	 
	 	 	 	 	
            Name:

          	
            Mike Bell

          	 
	 	 	 	 	
            Title:

          	
            Director

          	 

    

    

    DIRECTORS AND MANAGEMENT TEAM OF NORTH MOUNTAIN MERGER CORP.

    

    

    	
            /s/ Charles B. Bernicker

          	 
	
            Charles B. Bernicker

          	 
	
            Chief Executive Officer

          	 
	 	 
	
            /s/ Nicholas Dermatas

          	 
	
            Nicholas Dermatas

          	 
	
            Chief Financial Officer and Secretary

          	 
	 	 
	
            /s/ Robert L. Metzger

          	 
	
            Robert L. Metzger

          	 
	
            Director

          	 
	 	 
	
            /s/ Scott O’Callaghan

          	 
	
            Scott O’Callaghan

          	 
	
            Director

          	 
	 	 
	
            /s/ Douglas J. Pauls

          	 
	
            Douglas J. Pauls

          	 
	
            Director

          	 

    

    

    

    

    

    

    [Signature Page to Letter Agreement]Exhibit 10.2

    

    

    Execution Version

    

    

    INVESTMENT MANAGEMENT TRUST AGREEMENT

    

    

    This Investment Management Trust Agreement (this “Agreement”) is made effective as of September 17, 2020 by and between North Mountain Merger Corp., a Delaware corporation (the “Company”), and Continental
      Stock Transfer & Trust Company, a New York corporation (the “Trustee”).

    

    

    WHEREAS, the Company’s registration statement on Form S-1, File No. 333-246328 (the “Registration Statement”) and prospectus (the “Prospectus”) for the initial public offering of the Company’s units (the “Units”),

      each of which consists of one share of the Company’s Class A common stock, par value $0.0001 per share (the “Common Stock”), and one-half of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one share of
      Common Stock (such initial public offering hereinafter referred to as the “Offering”), has been declared effective as of the date hereof by the U.S. Securities and Exchange Commission; and

    

    

    WHEREAS, the Company has entered into an Underwriting Agreement (the “Underwriting Agreement”) with Citigroup Global Markets Inc. (the “Representative”); and

    

    

    WHEREAS, as described in the Prospectus, $115,000,000 of the gross proceeds of the Offering and sale of the Private Placement Warrants (as defined in the Underwriting Agreement) (or $132,250,000 if the Representative’s
      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”);

      and

    

    

    WHEREAS, pursuant to the Underwriting Agreement, a portion of the Property equal to $4,025,000, or $4,628,750 if the Representative’s over-allotment option is exercised in full, is attributable to deferred underwriting
      discounts and commissions that will be payable by the Company to the Representative upon and concurrently with the consummation of the Business Combination (as defined below) (the “Deferred Discount”); 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 Citibank, N.A. (or at
      another U.S. – chartered commercial bank with consolidated assets of $100 billion or more) 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 in solely 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 credit or other consideration;

    

    

    (d)

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

    

    

    (e)

    As soon as practicable notify the Company and the Representative of all communications received by the Trustee with respect to any Property requiring action by the Company;

    

    

    (f)

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

    

    

    (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 its Chief Executive Officer, President, Chief Financial Officer, Secretary or Chairman of the board of
      directors of the Company (the “Board”) or other authorized officer of the Company and, in the case of Exhibit A, acknowledged and agreed to by the Representative and complete the liquidation of the Trust Account and distribute the
      Property in the Trust Account, including interest earned on funds held in the Trust Account (net of amounts withdrawn in accordance with this Agreement 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 (i) 24 months after the closing of the Offering and (ii) such later date as may be approved by the Company’s
      stockholders in accordance with the Company’s amended and restated Certificate of Incorporation, 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 earned on funds held in the Trust Account (net of amounts withdrawn in accordance with this Agreement 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;

    

    

    
      2

      
        

    

    

    

     

    (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 (a “Tax Payment Withdrawal Instruction”),

      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 owed by the Company as a result of assets of the Company or interest or other income
      earned on the Property, which such payment the Company shall forward to the relevant taxing authority; 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 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 relevant taxing authority for the Company.  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;

    

    

    (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 (a “Working Capital Withdrawal
        Instruction”), withdraw from the Trust Account and distribute to the Company the amount of interest earned on the Property requested by the Company to fund working capital compliance requirements (a “Working Capital Withdrawal”), which
      amount shall be delivered directly to the Company; provided, however, that to the extent there is not sufficient cash in the Trust Account to fund such Working Capital Withdrawal, 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.  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.

    

    

    (l)

    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 E (a “Stockholder Redemption Withdrawal
        Instruction”), the Trustee shall distribute to the Public Stockholders on behalf of the Company the amount requested by the Company to be used to redeem shares of Common Stock from Public Stockholders properly submitted in connection with a
      stockholder vote to approve an amendment to the Company’s amended and restated Certificate of Incorporation to modify the substance or timing of the Company’s obligation to redeem 100% of its public shares of Common Stock if the Company has not
      consummated an initial Business Combination within such time as is described in the Company’s amended and restated Certificate of Incorporation or with respect to any other material provisions 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

    

    

    (m)

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

    

    

    
      3

      
        

    

    

    

     

    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, President, Chief Executive Officer, Chief Financial Officer or Secretary.  In addition,
      except with respect to its duties under Sections 1(i), 1(j), 1(k) and 1(l) 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 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, or its representatives’, 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; provided, further that the Company may conduct and manage the defense against any Indemnified Claim if the Trustee does not promptly take reasonable steps to mount such
      a defense.  The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company.  The Company may participate in any such action with its own counsel;

    

    

    (c)

    Pay the Trustee the fees set forth on Schedule A hereto, including an initial set-up 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 and until the property is distributed to the Company pursuant to Sections 1(i) hereof.  The Company shall
      pay the Trustee the initial set-up fee and the first annual administration fee at the consummation of the Offering.  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 verifying the vote of such stockholders regarding such Business
      Combination;

    

    

    
      4

      
        

    

    

    

     

    (e)

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

    

    

    (f)

    Unless otherwise agreed between the Company and the Representative, ensure that any Instruction Letter delivered in connection with a Termination Letter in the form of Exhibit A expressly
      provides that the Deferred Discount is paid directly to the accounts as directed by the Representative prior to any transfer of the funds held in the Trust Account to the Company or any other person;

    

    

    (g)

    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

    

    

    (h)

    Within four (4) business days after the Representative exercises the over-allotment option (or any unexercised portion thereof) or such over-allotment expires, provide the Trustee with a notice in
      writing of the total amount of the Deferred Discount, which shall in no event be less than $4,025,000, or $4,628,750 if the underwriters’ overallotment option is exercised in full.

    

    

    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 party except for liability arising out of the
      Trustee’s, or its representatives’, 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 reasonably incurred 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;

    

    

    
      5

      
        

    

    

    

     

    (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, or its representatives’, gross negligence, fraud, or willful misconduct.  The Trustee may rely conclusively and shall be protected in acting upon any order, notice, demand, certificate, opinion or advice of counsel (including counsel
      chosen by the Trustee, which counsel may be the Company’s counsel), statement, instrument, report or other paper or document (not only as to its due execution and the validity and effectiveness of its provisions, but also as to the truth and
      acceptability of any information therein contained) which the Trustee believes, in good faith and with reasonable care, to be genuine and to be signed or presented by the proper person or persons.  The Trustee shall not be bound by any notice or
      demand, or any waiver, modification, termination or rescission of this Agreement or any of the terms hereof, unless evidenced by a written instrument delivered to the Trustee, signed by the proper party or parties and, if the duties or rights of the
      Trustee are affected, unless it shall give its prior written consent thereto;

    

    

    (g)

    Verify the accuracy of the information contained in the Registration Statement;

    

    

    (h)

    Provide any assurance that any Business Combination entered into by the Company or any other action taken by the Company is as contemplated by the Registration Statement;

    

    

    (i)

    File information returns with respect to the Trust Account with any local, state or federal taxing authority or provide periodic written statements to the Company documenting the taxes payable by
      the Company, if any, relating to any interest income earned on the Property;

    

    

    (j)

    Prepare, execute and file tax reports, income or other tax returns and pay any taxes with respect to any income generated by, and activities relating to, the Trust Account, regardless of whether
      such tax is payable by the Trust Account or the Company, including, but not limited to, franchise and income tax obligations, except pursuant to Section 1(j) hereof; or

    

    

    (k)

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

    

    

    
      6

      
        

    

    

    

     

    5.

    Termination and Replacement of Trustee.  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 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 and any other reasonable transfer requests that the Company may make, 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; or

    

    

    (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 and distributed the Property
      in accordance with the provisions of the Termination Letter, this Agreement shall terminate except with respect to Section 2(b).

    

    

    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, or its representatives’, 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.

    

    

    (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.

    

    

    
      7

      
        

    

    

    

     

    (d)

    Sections 1(i) and 1(l) 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 receipt by the Trustee of a certificate from the inspector of elections of the stockholder meeting certifying that either (i) 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 (“DGCL”) (or any successor rule), who hold sixty-five percent (65%) or more of all then outstanding shares of the Common Stock and Class B common
      stock, par value $0.0001 per share, of the Company voting together as a single class, have voted in favor of such change, amendment or modification, or (ii) the Company’s stockholders of record as of the record date who hold sixty-five percent (65%)
      or more of all then outstanding shares of the Common Stock and Class B common stock, par value $0.0001 per share, of the Company voting together as a single class, have delivered to such entity a signed writing approving such change, amendment or
      modification.  No such amendment will affect any Public Stockholder who has otherwise indicated his election to redeem his share of Common Stock in connection with a stockholder vote sought to amend the Certificate of Incorporation.  Except for any
      liability arising out of the Trustee’s, or its representatives’, 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, County 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 facsimile transmission:

    

    

    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:

    

    

    North Mountain Merger Corp.

    767 Fifth Avenue, 9th Floor

    New York, NY 10153

    Attn: Charles B. Bernicker

    

    

    
      8

      
        

    

    

    

     

    in each case, with copies to:

    

    

    Paul, Weiss, Rifkind, Wharton & Garrison LLP

    1285 Avenue of the Americas

    New York, NY 10019

    Attn: Raphael M. Russo

    Fax No.: (212) 757-3990

    

    

    and

    

    

    Citigroup Global Markets Inc.

    388 Greenwich Street

    New York, NY 10013

    Attn: Pavan Bellur

    

    

    in each case, with copies to:

    

    

    Kirkland & Ellis LLP

    601 Lexington Avenue

    New York, NY 10022

    Attn.: Christian O. Nagler

    Fax No.: (212) 446-4900

    

    

    (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)

    Each of the Company and the Trustee hereby acknowledges and agrees that the Representative is a third party beneficiary of this Agreement.

    

    

    (i)

    The Trustee shall perform its duties under this Agreement in compliance with all applicable laws and keep confidential all information relating to this Agreement and, except as required by
      applicable law, shall not use such information for any purpose other than the performance of the Trustee’s obligations under this Agreement.

    

    

    (j)

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

    

    

    (k)

    This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. 
      Only one counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement.

    

    

    [Signature Page Follows]

    

    

    
      9

      
        

    

    

    

     

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

    

    

    	 	
            Continental Stock Transfer & Trust Company,

            as Trustee

          
	 	 	 	 
	 	
            By:

          	
            /s/ Francis Wolf

          
	 	 	
            Name:

          	
            Francis Wolf

          
	 	 	
            Title:

          	
            Vice President

          
	 	 	 	 
	 	
            North Mountain Merger Corp.

          
	 	 	 	 
	 	
            By:

          	
            /s/ Charles B. Bernicker

          
	 	 	
            Name:

          	
            Charles B. Bernicker

          
	 	 	
            Title:

          	
            Chief Executive Officer

          

    

    

    

    

    

    

    [Signature Page to Investment Management Trust Agreement]

    
      
        

    

    
    

    

     

    SCHEDULE A

    

    

     

    	
            Fee Item

          	
            Time and method of payment

          	
            Amount

          
	
            Initial set-up fee.

          	
            Initial closing of Offering by wire transfer.

          	
            $3,500.00

          
	
            Trustee administration fee

          	
            Payable annually.  First year fee payable at initial closing of Offering by wire transfer; thereafter, payable by wire transfer or check.

          	
            $10,000.00

          
	
            Transaction processing fee for disbursements to Company under Sections 1(i), 1(j), 1(k) and 1(l)

          	
             Billed to Company following disbursement made to Company under Section 1

          	
            $250.00

          
	
            Paying Agent services as required pursuant to Section 1(i) and 1(l)

          	
            Billed to Company upon delivery of service pursuant to Section 1(i) and 1(l)

          	
            Prevailing rates

          

    

    

    

    

    
      Sch. A-1

      
        

    

    
    

    

     

    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 Termination Letter

          

    

    

    Dear Mr. Wolf and Ms. Gonzalez:

    

    

    Pursuant to Section 1(i) of the Investment Management Trust Agreement between North Mountain Merger Corp. (the “Company”) and Continental Stock Transfer & Trust Company (the “Trustee”), dated as
      of [DATE] (the “Trust Agreement”), this is to advise you that the Company has entered into an agreement with [insert name] (the “Target Business”) to consummate a business combination with Target Business (the “Business Combination”)

      on or about [insert date].  The Company shall notify you at least  seventy-two (72) hours in advance 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 into the trust operating account at  JPMorgan
      Chase Bank N.A. to the effect that, on the Consummation Date, all of the funds held in the Trust Account will be immediately available for transfer to the account or accounts that the Company shall direct on the Consummation Date (including as
      directed to it by the Representative) (with respect to the Deferred Discount).  It is acknowledged and agreed that while the funds are on deposit in the trust operating account at JPMorgan Chase Bank N.A. 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, or will be consummated 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 of the Company, which verifies that the Business Combination has been approved by a vote of the
      Company’s stockholders, if a vote is held and (b) a joint written instruction signed by the Company and the Representative with respect to the transfer of the funds held in the Trust Account, including payment of amounts owed to public stockholders
      who have properly exercised their redemptions rights and payment of amounts of the Deferred Discount to the underwriter 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.

    

    

    
      Ex. A-1

      
        

    

    

    

     

    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 written instruction as soon thereafter as possible.

    

    

    	 	
            Very truly yours,

          
	 	 	 
	 	
            North Mountain Merger Corp.

          
	 	 	 
	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          

    

    

    	
            Acknowledged:

          
	 	 	 	 
	
            Citigroup Global Markets Inc.

          
	 	 	 	 
	
            By:

          	 	 
	 	
            Name:

          	 	 
	 	
            Title:

          	 	 

    

    

    
      Ex. A-2

      
        

    

    
    

    

     

    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 Termination Letter

          

    

    

    Dear Mr. Wolf and Ms. Gonzalez:

    

    

    Pursuant to Section 1(i) of the Investment Management Trust Agreement between North Mountain Merger Corp. (the “Company”) and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of [DATE] (the “Trust
      Agreement”), this is to advise you that the Company has been unable to effect a Business Combination with a Target Business within the time frame specified in the Company’s amended and restated Certificate of Incorporation, 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 to 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 [insert completion deadline] 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 Public Stockholders in accordance with the terms of the Trust Agreement and the amended
      and restated Certificate of Incorporation of 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, except to the extent otherwise provided in Section 1(i) of the Trust Agreement.

    

    

    	 	
            Very truly yours,

          
	 	 	 
	 	
            North Mountain Merger Corp.

          
	 	 	 
	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          

     

    

    

    

    	cc:	
            Citigroup Global Markets Inc.

          

    

    

    
      Ex. B-1

      
        

    

    
    

    

     

    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 Tax Payment Withdrawal Instruction

          

    

    

    Dear Mr. Wolf and Ms. Gonzalez:

    

    

    Pursuant to Section 1(j) of the Investment Management Trust Agreement between North Mountain Merger Corp. (the “Company”) and Continental Stock Transfer & Trust Company (the “Trustee”), dated as
      of [DATE] (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,

          
	 	 	 
	 	
            North Mountain Merger Corp.

          
	 	 	 
	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          

    

    

    	cc:	
            Citigroup Global Markets Inc.

          

    

    

    
      Ex. C-1

      
        

    

    
    

    

     

    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 Working Capital Withdrawal Instruction

          

    

    

    Dear Mr. Wolf and Ms. Gonzalez:

    

    

    Pursuant to Section 1(k) of the Investment Management Trust Agreement between North Mountain Merger Corp. (the “Company”) and Continental Stock Transfer & Trust Company (the “Trustee”), dated as
      of [DATE] (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 fund its working capital requirements.  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,

          
	 	 	 
	 	
            North Mountain Merger Corp.

          
	 	 	 
	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          

    

    

    	cc:	
            Citigroup Global Markets Inc.

          

    

    

    
      Ex. D-1

      
        

    

    
    

    

     

    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 Stockholder Redemption Withdrawal Instruction

          

    

    

    Dear Mr. Wolf and Ms. Gonzalez:

    

    

    Pursuant to Section 1(l) of the Investment Management Trust Agreement between North Mountain Merger Corp. (the “Company”) and Continental Stock Transfer & Trust Company (the “Trustee”), dated as
      of [DATE] (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 into a segregated
      account held by you on behalf of the Beneficiaries for distribution to the Stockholders who have requested redemption of their shares.  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 amended and restated Certificate of Incorporation.  As such, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter.

    

    

    	 	
            North Mountain Merger Corp.

          
	 	 	 
	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          

    

    

    	cc:	
            Citigroup Global Markets Inc.

          

    

    

  

  Ex. E-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00314-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00314-of-00352.parquet"}]]