The present paper which represents the fourth part of the series devoted to analysis of a simple Lee-type model of two-particle decay deals with three problems. The first one concerns relation of the model to the scattering theory. We prove asymptotic completeness for the elastic scattering of the two light particles and show that for a sufficiently weak coupling this system has just one resonance whose position is the same as that of the pole which yield the main contribution to the decay law. The second problem concerns spectral concentration; we prove its occurrence for families of intervals around<i>E</i> that shrink slower than quadratically in<i>g</i>. Finally, necessary and sufficient conditions for the existence of bound states are discussed.