0001213900-17-003668.txt : 20170412
20170412172528
8-K
8-K
8-K
20170406
20170406
BLANK CHECKS
6770
000121390017003668
17
Forum Merger Corp
>0001213900-17-003668.hdr.sgml : 20170412
20170412
<SEC-HEADER>0001213900-17-003668.hdr.sgml : 20170412
<ACCEPTANCE-DATETIME>20170412172528
ACCESSION NUMBER:		0001213900-17-003668
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		17
CONFORMED PERIOD OF REPORT:	20170406
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170412
DATE AS OF CHANGE:		20170412

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Forum Merger Corp
		CENTRAL INDEX KEY:			0001697152
		STANDARD INDUSTRIAL CLASSIFICATION:	BLANK CHECKS [6770]
		IRS NUMBER:				814619427
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38053
		FILM NUMBER:		17758645

	BUSINESS ADDRESS:	
		STREET 1:		135 EAST 57TH STREET, 8TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2127397860

	MAIL ADDRESS:	
		STREET 1:		135 EAST 57TH STREET, 8TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>9
<FILENAME>f8k040617ex10v_forummerger.htm
<DESCRIPTION>LETTER AGREEMENT BY AND BETWEEN THE COMPANY AND FORUM INVESTORS I, LLC
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif; text-align: right"><B>Exhibit 10.5</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 81%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 19%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">April
    6, 2017</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Forum
Merger Corporation</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">c/o
Forum Investors I, LLC&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">135
East 57<SUP>th </SUP>&nbsp;Street, 8<SUP>th</SUP>&nbsp;Floor&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
York, NY 10022</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EarlyBirdCapital,
Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">366
Madison Avenue</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
York, New York 10017</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 24px; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Re:</FONT></TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-decoration: underline"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Initial
    Public Offering</U></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gentlemen:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
letter is being delivered to you in accordance with the Underwriting Agreement (the &ldquo;<B><I>Underwriting Agreement</I></B>&rdquo;)
entered into by and between Forum Merger Corporation, a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;), and EarlyBirdCapital,
Inc. as representative (the &ldquo;<B><I>Representative</I></B>&rdquo;) of the several Underwriters named in Schedule I thereto
(the &ldquo;<B><I>Underwriters</I></B>&rdquo;), relating to an underwritten initial public offering (the &ldquo;<B><I>IPO</I></B>&rdquo;)
of the Company&rsquo;s units (the &ldquo;<B><I>Units</I></B>&rdquo;), each comprised of one share of the Company&rsquo;s Class
A common stock, par value $0.0001 per share (the &ldquo;<B><I>Common Stock</I></B>&rdquo;), one right entitling the holder to
one-tenth of one share of Common Stock (each a &ldquo;<B><I>Right</I></B>&rdquo;), and one half of one warrant, each whole warrant
exercisable for one share of Common Stock (each, a &ldquo;<B><I>Warrant</I></B>&rdquo;). Certain capitalized terms used herein
are defined in paragraph 12 hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.
If the Company solicits approval of its stockholders of a Business Combination, each of the undersigned will vote all shares of
Common Stock and Founders&rsquo; Common Stock beneficially owned by it, whether acquired before, in or after the IPO, in favor
of such Business Combination.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.
In the event that the Company fails to consummate a Business Combination within the time period set forth in the Company&rsquo;s
Certificate of Incorporation, as the same may be amended from time to time, each of the undersigned will, as promptly as possible,
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, redeem the Common Stock sold as part of the Units in the IPO (the &ldquo;Offering Shares&rdquo;),
at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest
earned on the Trust Account net of interest that may be used by the Company to pay its franchise and income taxes payable and
up to $100,000 of interest that may be released to us to pay dissolution expenses, divided by the number of then outstanding public
shares, which redemption will completely extinguish public stockholders&rsquo; rights as stockholders (including the right to
receive further liquidation distributions, if any), and (iii) as promptly as reasonably possible following such redemption, subject
to the approval of the Company&rsquo;s remaining stockholders and the Company&rsquo;s board of directors, dissolve and liquidate,
subject in the cases of clauses (ii) and (iii) to the Company&rsquo;s obligations under Delaware law to provide for claims of
creditors and other requirements of applicable law. The undersigned hereby waives any and all right, title, interest or claim
of any kind the undersigned may have in the future in or to any distribution of the Trust Account and any remaining net assets
of the Company as a result of, or arising out of, any contracts or agreements with the Company and will not seek recourse against
the Trust Account for any reason whatsoever. In the event of the liquidation of the Trust Account, Forum Investors I, LLC. agrees
to indemnify and hold harmless the Company for any debts and obligations to target businesses or vendors or other entities that
are owed money by the Company for services rendered or contracted for or products sold to the Company, but only to the extent
necessary to ensure that such debt or obligation does not reduce the amount of funds in the Trust Account below $10.00 per share;
provided that such indemnity shall not apply (i) if such vendor or prospective target business executed an agreement waiving any
right, title, interest or claim of any kind they may have in or to any monies held in the Trust Account, or (ii) as to any claims
under the Company&rsquo;s obligation to indemnify the Underwriters against certain liabilities, including liabilities under the
Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;). Each of the undersigned acknowledges and agrees that there
will be no distribution from the Trust Account with respect to any Warrants or Rights, all rights of which will terminate on the
Company&rsquo;s liquidation.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.
Each of 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, such transaction must be approved by a majority of the Company&rsquo;s
disinterested independent directors and the Company must obtain an opinion from an independent investment banking firm, or another
independent entity that commonly renders valuation opinions on the type of target business the Company is seeking to acquire,
that such Business Combination is fair to the Company&rsquo;s unaffiliated stockholders from a financial point of view.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.
Neither 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 order to effectuate, the consummation of the Business Combination;
provided that the Company shall be allowed to make the payments set forth in the Registration Statement under the caption &ldquo;Prospectus
Summary &ndash; The Offering &ndash; Limited payments to insiders.&rdquo; Notwithstanding the foregoing, each of 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.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.
Neither of the undersigned nor any affiliate of the undersigned will be entitled to receive or accept a finder&rsquo;s fee or
any other compensation in the event either of the undersigned, any member of the family of the undersigned or any affiliate of
the undersigned originates a Business Combination.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.
(a) Forum Investors I, LLC will place into escrow all shares of Founders&rsquo; Common Stock, portions of which shall be subject
to forfeiture in the event the Underwriters do not exercise their over-allotment option in full, pursuant to the terms of a Stock
Escrow Agreement which the Company will enter into with the undersigned and an escrow agent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
Neither of the undersigned will, without the prior written consent of the Representative pursuant to the Underwriting Agreement,
offer, sell, contract to sell, pledge, hedge, or otherwise dispose of, (or enter into any transaction which is designed to, or
might reasonably be expected to, result in the disposition (whether by actual disposition or effective economic disposition due
to cash settlement or otherwise) by the undersigned or any affiliate of the undersigned or any person in privity with the undersigned
or any affiliate of the undersigned), directly or indirectly, including the filing (or participation in the filing) of a registration
statement with the Securities and Exchange Commission in respect of, 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, and
the rules and regulations of the Securities and Exchange Commission promulgated thereunder with respect to, any Units, shares
of Common Stock, shares of Founders&rsquo; Common Stock, Warrants of the Company or any securities convertible into, or exercisable
or exchangeable for shares of Common Stock, or publicly announce an intention to effect any such transaction, for a period of
180 days after the date of the Underwriting Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)
Forum Investors I, LLC agrees that until 30 days after the Company consummates a Business Combination, the undersigned&rsquo;s
Founders&rsquo; Units (and underlying securities) will be subject to the transfer restrictions described in the Founder Units
Purchase Agreement relating to the undersigned&rsquo;s Founders&rsquo; Units.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.85in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.
Each of the undersigned hereby waives any right to exercise conversion rights with respect to any shares of the Common Stock or
Founders&rsquo; Common Stock owned or to be owned by the undersigned, directly or indirectly, whether such shares be part of the
Founders&rsquo; Common Stock or shares of Common Stock purchased by the undersigned in the IPO or in the aftermarket, and each
agrees not to seek conversion with respect to such shares in connection with any vote to approve a Business Combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.
Each of the undersigned has full right and power, without violating any agreement by which he or it is bound, to enter into this
letter agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.
Each of the undersigned hereby agrees to not propose, or vote in favor of, an amendment to Article Sixth or Seventh of the Company&rsquo;s
Amended and Restated Certificate of Incorporation prior to the consummation of a Business Combination unless the Company provides
public stockholders with the opportunity to convert their shares of Common Stock upon such approval in accordance with such Article
Sixth thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.
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, Forum Investors I, LLC agrees to advance such funds necessary to complete such liquidation and agrees
not to seek repayment for such expenses.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.
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.
Each of the undersigned hereby (i) agrees that any action, proceeding or claim against him arising out of or relating in any way
to this letter agreement (a &ldquo;Proceeding&rdquo;) shall be brought and enforced in the courts of the State of New York of
the United States of America for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction
shall be exclusive, (ii) waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum
and (iii) irrevocably agrees to appoint Ellenoff Grossman &amp; Schole LLP as agent for the service of process in the State of
New York to receive, for the undersigned and on his behalf, service of process in any Proceeding. If for any reason such agent
is unable to act as such, the undersigned will promptly notify the Company and the Representative and appoint a substitute agent
acceptable to each of the Company and the Representative within 30 days and nothing in this letter will affect the right of either
party to serve process in any other manner permitted by law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.
As used herein, (i) a &ldquo;Business Combination&rdquo; shall mean a merger, share exchange, asset acquisition, stock purchase,
recapitalization, reorganization or other similar business combination with one or more businesses or entities; (ii) &ldquo;Insiders&rdquo;
shall mean all officers, directors and sponsor of the Company immediately prior to the IPO; (iii) &ldquo;Founders&rsquo; Common
Stock&rdquo; shall mean all of the shares of Class F common stock, par value $0.0001 per share, of the Company acquired by an
Insider prior to the IPO; (iv) &ldquo;IPO Shares&rdquo; shall mean the shares of Common Stock issued in the Company&rsquo;s IPO;
(v) &ldquo;Founders&rsquo; Units&rdquo; shall mean the units that are being sold privately by the Company simultaneously with
the consummation of the IPO; (vi) &ldquo;Trust Account&rdquo; shall mean the trust account into which a portion of the net proceeds
of the IPO will be deposited; and (vii) &ldquo;Registration Statement&rdquo; means, collectively, the Company&rsquo;s registration
statements on Form S-1 (SEC File Nos. 333-216842 and 333-217187) filed with the Securities and Exchange Commission.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.
This Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter
hereof and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral,
to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement
may not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision,
except by a written instrument executed by all parties hereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.
Each of 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. Nothing contained herein shall be deemed to render the Underwriters
a representative of, or a fiduciary with respect to, the Company, its stockholders or any creditor or vendor of the Company with
respect to the subject matter hereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15.
This letter agreement shall be binding on the undersigned and such person&rsquo;s respective successors, heirs, personal representatives
and assigns. This letter agreement shall terminate on the earlier of (i) the consummation of a Business Combination and (ii) the
liquidation of the Company;&nbsp;<U>provided</U>, that such termination shall not relieve the undersigned from liability for any
breach of this agreement prior to its termination.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[Signature
Page Follows]</FONT></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="line-height: 115%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; line-height: 115%; border-bottom: Black 1.5pt solid">Forum Investors I, LLC</TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; line-height: 115%">Print Name of Insider</TD></TR>
<TR>
    <TD STYLE="line-height: 115%; width: 60%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%; width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%; width: 36%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Forum Capital Management, LLC, its managing member</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
David Boris</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Name: David Boris</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Title: &nbsp;&nbsp;Managing Member</P></TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Acknowledged and Agreed:</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Forum Merger Corporation</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1.5pt solid; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
David Boris</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;&nbsp;David Boris</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:&nbsp;&nbsp;&nbsp;&nbsp;Co-Chief Executive Officer</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EarlyBirdCapital, Inc.</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; line-height: 115%">/s/ Steven Levine</TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Steven Levine</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: CEO</FONT></TD></TR>
</TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[Signature
Page to Sponsor Insider Letter]</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">4</P>

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</DOCUMENT>
EX-10.5
9
f8k040617ex10v_forummerger.htm
LETTER AGREEMENT BY AND BETWEEN THE COMPANY AND FORUM INVESTORS I, LLC
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>9
<FILENAME>f8k040617ex10v_forummerger.htm
<DESCRIPTION>LETTER AGREEMENT BY AND BETWEEN THE COMPANY AND FORUM INVESTORS I, LLC
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif; text-align: right"><B>Exhibit 10.5</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 81%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 19%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">April
    6, 2017</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Forum
Merger Corporation</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">c/o
Forum Investors I, LLC&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">135
East 57<SUP>th </SUP>&nbsp;Street, 8<SUP>th</SUP>&nbsp;Floor&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
York, NY 10022</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EarlyBirdCapital,
Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">366
Madison Avenue</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
York, New York 10017</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 24px; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Re:</FONT></TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-decoration: underline"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Initial
    Public Offering</U></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gentlemen:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
letter is being delivered to you in accordance with the Underwriting Agreement (the &ldquo;<B><I>Underwriting Agreement</I></B>&rdquo;)
entered into by and between Forum Merger Corporation, a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;), and EarlyBirdCapital,
Inc. as representative (the &ldquo;<B><I>Representative</I></B>&rdquo;) of the several Underwriters named in Schedule I thereto
(the &ldquo;<B><I>Underwriters</I></B>&rdquo;), relating to an underwritten initial public offering (the &ldquo;<B><I>IPO</I></B>&rdquo;)
of the Company&rsquo;s units (the &ldquo;<B><I>Units</I></B>&rdquo;), each comprised of one share of the Company&rsquo;s Class
A common stock, par value $0.0001 per share (the &ldquo;<B><I>Common Stock</I></B>&rdquo;), one right entitling the holder to
one-tenth of one share of Common Stock (each a &ldquo;<B><I>Right</I></B>&rdquo;), and one half of one warrant, each whole warrant
exercisable for one share of Common Stock (each, a &ldquo;<B><I>Warrant</I></B>&rdquo;). Certain capitalized terms used herein
are defined in paragraph 12 hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.
If the Company solicits approval of its stockholders of a Business Combination, each of the undersigned will vote all shares of
Common Stock and Founders&rsquo; Common Stock beneficially owned by it, whether acquired before, in or after the IPO, in favor
of such Business Combination.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.
In the event that the Company fails to consummate a Business Combination within the time period set forth in the Company&rsquo;s
Certificate of Incorporation, as the same may be amended from time to time, each of the undersigned will, as promptly as possible,
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, redeem the Common Stock sold as part of the Units in the IPO (the &ldquo;Offering Shares&rdquo;),
at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest
earned on the Trust Account net of interest that may be used by the Company to pay its franchise and income taxes payable and
up to $100,000 of interest that may be released to us to pay dissolution expenses, divided by the number of then outstanding public
shares, which redemption will completely extinguish public stockholders&rsquo; rights as stockholders (including the right to
receive further liquidation distributions, if any), and (iii) as promptly as reasonably possible following such redemption, subject
to the approval of the Company&rsquo;s remaining stockholders and the Company&rsquo;s board of directors, dissolve and liquidate,
subject in the cases of clauses (ii) and (iii) to the Company&rsquo;s obligations under Delaware law to provide for claims of
creditors and other requirements of applicable law. The undersigned hereby waives any and all right, title, interest or claim
of any kind the undersigned may have in the future in or to any distribution of the Trust Account and any remaining net assets
of the Company as a result of, or arising out of, any contracts or agreements with the Company and will not seek recourse against
the Trust Account for any reason whatsoever. In the event of the liquidation of the Trust Account, Forum Investors I, LLC. agrees
to indemnify and hold harmless the Company for any debts and obligations to target businesses or vendors or other entities that
are owed money by the Company for services rendered or contracted for or products sold to the Company, but only to the extent
necessary to ensure that such debt or obligation does not reduce the amount of funds in the Trust Account below $10.00 per share;
provided that such indemnity shall not apply (i) if such vendor or prospective target business executed an agreement waiving any
right, title, interest or claim of any kind they may have in or to any monies held in the Trust Account, or (ii) as to any claims
under the Company&rsquo;s obligation to indemnify the Underwriters against certain liabilities, including liabilities under the
Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;). Each of the undersigned acknowledges and agrees that there
will be no distribution from the Trust Account with respect to any Warrants or Rights, all rights of which will terminate on the
Company&rsquo;s liquidation.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.
Each of 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, such transaction must be approved by a majority of the Company&rsquo;s
disinterested independent directors and the Company must obtain an opinion from an independent investment banking firm, or another
independent entity that commonly renders valuation opinions on the type of target business the Company is seeking to acquire,
that such Business Combination is fair to the Company&rsquo;s unaffiliated stockholders from a financial point of view.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.
Neither 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 order to effectuate, the consummation of the Business Combination;
provided that the Company shall be allowed to make the payments set forth in the Registration Statement under the caption &ldquo;Prospectus
Summary &ndash; The Offering &ndash; Limited payments to insiders.&rdquo; Notwithstanding the foregoing, each of 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.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.
Neither of the undersigned nor any affiliate of the undersigned will be entitled to receive or accept a finder&rsquo;s fee or
any other compensation in the event either of the undersigned, any member of the family of the undersigned or any affiliate of
the undersigned originates a Business Combination.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.
(a) Forum Investors I, LLC will place into escrow all shares of Founders&rsquo; Common Stock, portions of which shall be subject
to forfeiture in the event the Underwriters do not exercise their over-allotment option in full, pursuant to the terms of a Stock
Escrow Agreement which the Company will enter into with the undersigned and an escrow agent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
Neither of the undersigned will, without the prior written consent of the Representative pursuant to the Underwriting Agreement,
offer, sell, contract to sell, pledge, hedge, or otherwise dispose of, (or enter into any transaction which is designed to, or
might reasonably be expected to, result in the disposition (whether by actual disposition or effective economic disposition due
to cash settlement or otherwise) by the undersigned or any affiliate of the undersigned or any person in privity with the undersigned
or any affiliate of the undersigned), directly or indirectly, including the filing (or participation in the filing) of a registration
statement with the Securities and Exchange Commission in respect of, 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, and
the rules and regulations of the Securities and Exchange Commission promulgated thereunder with respect to, any Units, shares
of Common Stock, shares of Founders&rsquo; Common Stock, Warrants of the Company or any securities convertible into, or exercisable
or exchangeable for shares of Common Stock, or publicly announce an intention to effect any such transaction, for a period of
180 days after the date of the Underwriting Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)
Forum Investors I, LLC agrees that until 30 days after the Company consummates a Business Combination, the undersigned&rsquo;s
Founders&rsquo; Units (and underlying securities) will be subject to the transfer restrictions described in the Founder Units
Purchase Agreement relating to the undersigned&rsquo;s Founders&rsquo; Units.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.85in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.
Each of the undersigned hereby waives any right to exercise conversion rights with respect to any shares of the Common Stock or
Founders&rsquo; Common Stock owned or to be owned by the undersigned, directly or indirectly, whether such shares be part of the
Founders&rsquo; Common Stock or shares of Common Stock purchased by the undersigned in the IPO or in the aftermarket, and each
agrees not to seek conversion with respect to such shares in connection with any vote to approve a Business Combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.
Each of the undersigned has full right and power, without violating any agreement by which he or it is bound, to enter into this
letter agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.
Each of the undersigned hereby agrees to not propose, or vote in favor of, an amendment to Article Sixth or Seventh of the Company&rsquo;s
Amended and Restated Certificate of Incorporation prior to the consummation of a Business Combination unless the Company provides
public stockholders with the opportunity to convert their shares of Common Stock upon such approval in accordance with such Article
Sixth thereof.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.
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, Forum Investors I, LLC agrees to advance such funds necessary to complete such liquidation and agrees
not to seek repayment for such expenses.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.
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.
Each of the undersigned hereby (i) agrees that any action, proceeding or claim against him arising out of or relating in any way
to this letter agreement (a &ldquo;Proceeding&rdquo;) shall be brought and enforced in the courts of the State of New York of
the United States of America for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction
shall be exclusive, (ii) waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum
and (iii) irrevocably agrees to appoint Ellenoff Grossman &amp; Schole LLP as agent for the service of process in the State of
New York to receive, for the undersigned and on his behalf, service of process in any Proceeding. If for any reason such agent
is unable to act as such, the undersigned will promptly notify the Company and the Representative and appoint a substitute agent
acceptable to each of the Company and the Representative within 30 days and nothing in this letter will affect the right of either
party to serve process in any other manner permitted by law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.
As used herein, (i) a &ldquo;Business Combination&rdquo; shall mean a merger, share exchange, asset acquisition, stock purchase,
recapitalization, reorganization or other similar business combination with one or more businesses or entities; (ii) &ldquo;Insiders&rdquo;
shall mean all officers, directors and sponsor of the Company immediately prior to the IPO; (iii) &ldquo;Founders&rsquo; Common
Stock&rdquo; shall mean all of the shares of Class F common stock, par value $0.0001 per share, of the Company acquired by an
Insider prior to the IPO; (iv) &ldquo;IPO Shares&rdquo; shall mean the shares of Common Stock issued in the Company&rsquo;s IPO;
(v) &ldquo;Founders&rsquo; Units&rdquo; shall mean the units that are being sold privately by the Company simultaneously with
the consummation of the IPO; (vi) &ldquo;Trust Account&rdquo; shall mean the trust account into which a portion of the net proceeds
of the IPO will be deposited; and (vii) &ldquo;Registration Statement&rdquo; means, collectively, the Company&rsquo;s registration
statements on Form S-1 (SEC File Nos. 333-216842 and 333-217187) filed with the Securities and Exchange Commission.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.
This Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter
hereof and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral,
to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement
may not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision,
except by a written instrument executed by all parties hereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.
Each of 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. Nothing contained herein shall be deemed to render the Underwriters
a representative of, or a fiduciary with respect to, the Company, its stockholders or any creditor or vendor of the Company with
respect to the subject matter hereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15.
This letter agreement shall be binding on the undersigned and such person&rsquo;s respective successors, heirs, personal representatives
and assigns. This letter agreement shall terminate on the earlier of (i) the consummation of a Business Combination and (ii) the
liquidation of the Company;&nbsp;<U>provided</U>, that such termination shall not relieve the undersigned from liability for any
breach of this agreement prior to its termination.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[Signature
Page Follows]</FONT></P>

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

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="line-height: 115%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; line-height: 115%; border-bottom: Black 1.5pt solid">Forum Investors I, LLC</TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; line-height: 115%">Print Name of Insider</TD></TR>
<TR>
    <TD STYLE="line-height: 115%; width: 60%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%; width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%; width: 36%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Forum Capital Management, LLC, its managing member</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
David Boris</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Name: David Boris</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Title: &nbsp;&nbsp;Managing Member</P></TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Acknowledged and Agreed:</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Forum Merger Corporation</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1.5pt solid; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
David Boris</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;&nbsp;David Boris</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:&nbsp;&nbsp;&nbsp;&nbsp;Co-Chief Executive Officer</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EarlyBirdCapital, Inc.</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; line-height: 115%">/s/ Steven Levine</TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Steven Levine</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: CEO</FONT></TD></TR>
</TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[Signature
Page to Sponsor Insider Letter]</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">4</P>

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