SEC Contract Filing

Filing Date: 2020-08-06

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>7
<FILENAME>ea125088ex10-5_megalith.htm
<DESCRIPTION>FORM OF SUBSCRIPTION AGREEMENT
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.5</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SUBSCRIPTION AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Megalith Financial Acquisition Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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 <TD STYLE="width: 65%; font-size: 10pt">&nbsp;</TD>
 <TD STYLE="width: 35%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">August 5, 2020</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 48pt">In connection with the
proposed business combination (the &ldquo;<U>Transaction</U>&rdquo;) between Megalith Financial Acquisition Corp., a Delaware corporation
(the &ldquo;<U>Company</U>&rdquo;), and BankMobile Technologies, Inc., a Pennsylvania corporation (&ldquo;<U>BankMobile</U>&rdquo;),
pursuant to that certain Agreement and Plan of Merger, dated effective as of [ ], 2020, among the Company, BankMobile and the other
parties thereto (as may be amended and/or restated, the &ldquo;<U>Transaction Agreement</U>&rdquo;), the Company is seeking commitments
to purchase shares (the &ldquo;<U>Shares</U>&rdquo;) of the Company&rsquo;s Class A Common Stock, par value $0.0001 per share,
for a purchase price of $10.38 per share (the &ldquo;<U>Purchase Price</U>&rdquo;). The Company is offering the Shares in a private
placement in which the Company expects to raise an aggregate of $20,002,872. In connection therewith, the undersigned and the Company
agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>1.&nbsp;<U>Subscription</U></B>.
As of the date written above (the &ldquo;<U>Subscription Date</U>&rdquo;), the undersigned hereby irrevocably subscribes for and
agrees to purchase from the Company such number of Shares as is set forth on the signature page of this Subscription Agreement
at the Purchase Price and on the terms provided for herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>2.&nbsp;<U>Closing;
Delivery of Shares</U></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">a.&nbsp;The
closing of the sale of Shares contemplated hereby (the &ldquo;<U>Closing</U>&rdquo;) is contingent upon the substantially concurrent
consummation of the Transaction. The Closing shall occur on the date of, and immediately prior to, the consummation of the Transaction.
Upon (i) satisfaction of the conditions set forth in Section 3 below and (ii) not less than two (2) business days&rsquo; written
notice (which may be via email) from (or on behalf of) the Company to the undersigned (the &ldquo;<U>Closing Notice</U>&rdquo;),
that the Company reasonably expects the closing of the Transaction to occur on a date that is not less than two (2) business days
from the date of the Closing Notice, the undersigned shall deliver to the Company on the closing date specified in the Closing
Notice (the &ldquo;<U>Closing Date</U>&rdquo;) the Purchase Price for the Shares subscribed by wire transfer of United States dollars
in immediately available funds to the account specified by the Company in the Closing Notice against delivery to the undersigned
of the Shares in certificated form as set forth in Section 2(b) below. This Subscription Agreement shall terminate and be of no
further force or effect, without any liability to either party hereto, if the Company notifies the undersigned in writing that
it has abandoned its plans to move forward with the Transaction and/or terminates the undersigned&rsquo;s obligations without the
delivery of the Shares having occurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">b. &nbsp;Immediately
upon the Closing, the Company shall deliver (or cause the delivery of) the Shares in certificated form with restrictive legends
in the amount as set forth on the signature page to each of the undersigned as indicated on the signature page or to a custodian
designated by such undersigned, as applicable, as indicated below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>3.&nbsp;<U>Closing
Conditions</U></B>. In addition to the condition set forth in the first sentence of Section 2(a) a