Document:

EX-4.2

 Exhibit 4.2 

FORM OF REGISTRATION RIGHTS AGREEMENT 

This Registration Rights Agreement (this “Agreement”), dated as of [•], 2021, by and among Arhaus, Inc., a Delaware
corporation (the “Company”), FS Equity Partners VI, L.P., a Delaware limited partnership (“FSEP VI”), FS Affiliates VI, L.P., a Delaware limited partnership (“FS Affiliates”) and each of the
investors listed on Schedule A hereto (collectively with FSEP VI and FS Affiliates, the “FS Stockholders”), and each of the other investors listed on Schedule B hereto (which are collectively referred to herein as the
“Reed Stockholders”). 
 R E C I T A L S 

A. Prior to the date of this Agreement, Ash Merger Sub 1, Inc., a Delaware corporation and wholly owned subsidiary of the Company, was merged
into FS Arhaus Holding, Inc., a Delaware corporation (“FS Holding”), and Ash Merger Sub 2, Inc., a Delaware corporation and wholly owned subsidiary of the Company, was merged into Homeworks Holdings, Inc., an Ohio corporation
(“Homeworks”), as part of a reorganization (collectively, the “Reorganization”) of Arhaus, LLC, a Delaware limited liability company (“Arhaus”). 

B. The FS Stockholders and the Reed Stockholders were direct or indirect holders of equity interests of Arhaus, Homeworks or FS Holding at the
time of the Reorganization and are holders of shares of capital stock of the Company on the date hereof. 
 C. The parties hereto are
entering into this Agreement to establish certain registration rights with respect to the capital stock of the Company. 
 A G R E E M E N
T 
 NOW, THEREFORE, in consideration of the foregoing, the mutual covenants contained herein and for other good and valuable
consideration, the receipt and adequacy of which is hereby acknowledged, the parties hereto agree as follows: 
 ARTICLE I 

1.1 Definitions. As used in this Agreement, the following terms shall have the following meanings: 

“Affiliate” means with respect to any Person, any individual, corporation, general partnership, limited partnership, limited
liability partnership, joint venture, association, limited liability company, joint stock company, trust, or unincorporated organization, that directly or indirectly through one or more intermediaries, controls, or is controlled by, or is under
common control with such Person. For the purposes of this definition, the term “control” when used with respect to any specified Person, shall mean the power to direct or cause the direction of the operation or management of such Person,
directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative of the foregoing. 

 “Agreement” has the meaning set forth in the preamble hereof. 

“Board” means the Company’s board of directors. 

“Common Stock” means the Company’s common stock, par value $0.001 per share. 

“Company” has the meaning set forth in the preamble of this Agreement. 

“Company Business” means the retail sale of furniture and home furnishings. 

“Company Competitor” means a Person whose business competes with the Company Business. 

“Demand Registration” has the meaning set forth in Section 2.1. 

“Excess Amount” means, with respect to an underwritten offering, the number of Registrable Securities requested by a
Stockholder or Stockholders to be sold pursuant to Section 2.1, Section 2.2 or Section 2.3 which the managing Underwriter(s) determine exceeds the largest number of
Registrable Securities which can successfully be sold in an orderly manner in such offering within a price range acceptable to holders of a majority of the Registrable Securities proposed to be sold in such underwritten offering. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 “FS Affiliates” has the meaning set forth in the preamble of this Agreement. 

“FS Principals” means Brad J. Brutocao, Bradford M. Freeman, Benjamin D. Geiger, Jordan A. Hathaway, John S. Hwang, Christian
B. Johnson, Jon D. Ralph, John M. Roth, and Ronald P. Spogli. 
 “FS Stockholders” has the meaning set forth in the
preamble of this Agreement. 
 “FSEP VI” has the meaning set forth in the preamble of this Agreement. 

“Indemnified Party” has the meaning set forth in Section 4.3. 

“Indemnifying Party” has the meaning set forth in Section 4.3. 

“Initial Public Offering” means the initial public offering of shares of Common Stock pursuant to a registration statement
under the Securities Act of 1933, as amended (other than an offering registered on Form S-4 or S-8 (or any substitute for such forms)). 

“Inspectors” has the meaning set forth in Section 3.1(g). 

  
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 “LLC Agreement” means the Third Amended and Restated Limited Liability
Company Agreement of Arhaus. 
 “Other Registration Rights Holders” means any Persons who hereafter purchase Common Stock
from the Company and enter into an agreement with the Company allowing such persons to join in the Demand Registrations and Piggy-Back Registrations hereunder. 

“Permitted Transferee” means (i) with respect to any Stockholder that is not a natural person or a trust, any controlled
Affiliate of such Stockholder; provided that such Affiliate is not a Company Competitor or does not own a controlling interest in a Company Competitor; (ii) with respect to any Stockholder who is a natural person, the spouse, parents, siblings
and descendants of any such Person, and any trust, limited liability company, partnership or other entity intended to act as an estate planning vehicle solely for the benefit of any of the foregoing Persons; (iii) with respect to any
Stockholder that is a trust, the trustee and beneficiaries of the trust and the spouse, parents, siblings and descendants of any such trust’s beneficiaries and any other trust, limited liability company, partnership or other entity intended to
act as an estate planning vehicle solely for the benefit of any of the foregoing Persons; and (iv) with respect to a Transfer by any FS Stockholder, to any Person who is (A) a controlled Affiliate of such FS Stockholder, (B) any
investment fund or partnership that is organized and controlled by any of the FS Principals, (C) any limited or general partner of a fund or partnership referred to in subclause (B) or a partner, member or manager of such a fund or
partnership or any management company of such a fund or partnership, (D) any general or limited partner of an entity referred to in subclause (B) or any Permitted Transferee of an entity referred to in subclause (B) or (E) any member
of the immediate family or to any family trust of any Person described in subclause (C) or (D). 
 “Person” means any
individual, corporation, partnership, joint venture, limited liability company, trust, unincorporated organization, other entity or governmental entity. 

“Piggy-Back Registration” has the meaning set forth in Section 2.3. 

“Piggy-Back Registration Statement” has the meaning set forth in Section 2.3. 

“Pro Rata Share” of a Stockholder shall be a fraction, (i) the numerator of which shall be the total number of shares of
Common Stock then held by the Stockholder and (ii) the denominator of which shall be the total number of shares of Common Stock then held by all Stockholders and Other Registration Rights Holders participating in the offering. 

“Qualified IPO” shall mean a firmly underwritten Initial Public Offering with aggregate gross proceeds (including primary and
secondary sales) of at least $50,000,000 and a public offering price per share at least equal to the Class B Liquidation Amount (as defined in the LLC Agreement) (as adjusted for stock splits, dividends and the like) immediately prior to the
closing of the Qualified IPO. 
 “Records” has the meaning set forth in Section 3.1(g). 

“Reed” means John Reed. 

“Reed Stockholders” has the meaning set forth in the preamble of this Agreement. 

  
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 “Registrable Securities” means (a) any Common Stock now owned or
hereafter acquired by any Stockholder and (b) any securities issued with respect to such Common Stock referred to in clause (a) by way of a stock dividend or stock split or in connection with a combination of shares, recapitalization,
merger, consolidation or reorganization. As to any particular Registrable Securities, such securities shall cease to be Registrable Securities when (i) a registration statement with respect to the sale of such securities shall have been
declared effective under the Securities Act and such securities have been disposed of in accordance with such registration statement, (ii) such securities shall have been sold pursuant to Rule 144 or are otherwise eligible for sale under Rule
144 without any volume or manner of sale restriction, (iii) such securities have been transferred to any Person who is not a Permitted Transferee of the transferor, or (iv) such securities shall have ceased to be outstanding. 

“Register”, “Registered” and “Registration” refer to a registration effected by preparing
and filing a registration statement (a “Registration Statement”) in compliance with the Securities Act, and such Registration Statement becoming effective by declaration, order or rule of the SEC. 

“Reorganization” shall have the meaning set forth in the recitals of this Agreement. 

“Requisite Share Number” means the number of shares of Common Stock representing not less than $20,000,000 in fair market
value as determined in good faith by the Board. 
 “Rule 144” means Rule 144 promulgated under the Securities Act, and any
successor to or modification of such rule. 
 “S-3 Registration” has the meaning
set forth in Section 2.2. 
 “Securities Act” means the Securities Act of 1933, as amended, and
the rules and regulations promulgated thereunder. 
 “SEC” means the U.S. Securities and Exchange Commission. 

“Selling Holder” means a Person who is selling or proposing to sell Registrable Securities pursuant to an effective
registration statement filed under the Securities Act as contemplated by this Agreement. 
 “Stockholder” means the FS
Stockholders and the Reed Stockholders (or, in each case, any Permitted Transferee thereof). 
 “Suspension Period” has the
meaning set forth in Section 3.1. 
 “Transfer” means any direct or indirect transfer, sale,
assignment or other disposition of Common Stock. 
 “Underwriter” means a securities dealer who purchases any Registrable
Securities as principal in an underwritten offering and not as part of such dealer’s market-making activities. 
 “Withdrawal
Election” has the meaning set forth in Section 2.4(b). 

  
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 ARTICLE II 

2.1 Demand Registration. 

(a) Request for Registration. At any time beginning six months after the completion of a Qualified IPO and from time to time
thereafter, FSEP VI (on behalf of the FS Stockholders) or Reed (on behalf of the Reed Stockholders) may make a written request for registration under the Securities Act of all or part of its Registrable Securities (a “Demand
Registration”); provided, that the Stockholder making the request is requesting that at least the Requisite Share Number of its shares be registered; provided further that the Company shall not be obligated to effect
more than two Demand Registrations for the FS Stockholders and two Demand Registrations for the Reed Stockholders. Any such request will specify the number of shares of Registrable Securities proposed to be sold and will also specify the intended
method of disposition thereof. The Company shall give written notice of such registration request within 10 days after the receipt thereof to all other Stockholders and Other Registration Rights Holders. If FSEP VI or Reed requests a Demand
Registration meeting all of the foregoing requirements, each of the other Stockholders (or their Permitted Transferees) and each of the Other Registration Rights Holders shall be entitled to submit to the Company, within 10 days after receipt of
notice of the request for a Demand Registration, a written request to join in such Demand Registration, and if such a follow-on request is made, thereupon the other Stockholders or Other Registration Rights
Holders who made such a follow-on request shall be entitled to include their Registrable Securities in such Demand Registration on a pro rata basis, determined based on the Pro Rata Share then held by FSEP VI
or Reed (including Permitted Transferees), the other Stockholders (including Permitted Transferees) and the Other Registration Rights Holders up to the number of Registrable Securities proposed to be sold in such Demand Registration. The Company
shall not have any right to participate in a Demand Registration. 
 (b) Effective Registration. A registration will not count as a
Demand Registration (or request therefor) until the registration statement filed under the Securities Act with respect thereto has been declared effective by the SEC. 

(c) Underwritten Offering. If FSEP VI or Reed so elects, the offering of such Registrable Securities pursuant to such Demand
Registration shall be in the form of an underwritten offering. The Company and the initiating Stockholder of the Demand Registration shall jointly select one or more nationally recognized firms of investment bankers to act as the managing
Underwriter or Underwriters in connection with such offering and shall jointly select any additional managers to be used in connection with the offering. 

(d) Required Delays. Notwithstanding anything contained in this Section 2.1 to the contrary, if any request
for Demand Registration is delivered at a time when (i) a Demand Registration has become effective in the previous 90 days, (ii) the Company has filed a Registration Statement with respect to an underwritten primary registration of Common
Stock on behalf of the Company that has become effective in the previous 90 days or has determined or is currently planning (and the Board has approved or is expected to approve such determination or plan) to file such a Registration Statement (so
long as a Registration Statement is filed with respect thereto within one month of the Stockholder’s or Stockholders’ request for Demand Registration), in which case the Company may require the Stockholder or Stockholders to postpone such
request 

  
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until the expiration of the 90-day period following the effective date of such registration; or (iii) in the opinion of a majority of the Board, such
registration would (x) require premature disclosure of material information that the Company has a valid reason for preserving as confidential and such disclosure would materially and adversely affect the Company, (y) render the Company
unable to comply with the requirements of the Securities Act or Exchange Act, or (z) adversely affect a material acquisition, disposition, merger or other similar material transaction involving the Company, or otherwise materially and adversely
affect the Company or the market for the Company’s Common Stock (it being understood that the ordinary effect of a Demand Registration on the market for securities does not meet the foregoing standard) (any of the foregoing, a “Material
Event Postponement”), the Company, with the prior authorization of the Board, may require the Stockholder to postpone such request for an appropriate period (not to exceed 90 days in any 12 month period); provided, however,
that the Company may not require such a postponement more than one time for the conditions described in clauses (i) or (ii) above in any 12 month period. In the event of a Material Event Postponement, the Company shall use its reasonable best
efforts to effect such registration as promptly as possible after removal of the reasons for the Material Event Postponement. 
 2.2
Registration on Form S-3. 
 (a) Request for Registration. If at such time after the
Company has qualified for the use of Form S-3 (or any successor form to Form S-3) promulgated under the Securities Act, FSEP VI (on behalf of the FS Stockholders) or
Reed (on behalf of the Reed Stockholders) may make a written request that the Company file a registration statement on Form S-3 for a public offering of shares of all or part of its or their Registrable
Securities (an “S-3 Registration”); provided, that the Company shall not be obligated to effect any such registration pursuant to this Section 2.2 if
(i) the Company effected two registration statements on Form S-3 pursuant to this Section 2.2 during the preceding 12-month period or
(ii) such S-3 Registration covers an offering of less than $10,000,000 of Registrable Securities. Any such request will specify the number of shares of Registrable Securities proposed to be sold and will
also specify the intended method of disposition thereof. The Company shall give written notice of such registration request within ten days after the receipt thereof to all other Stockholders and Other Registration Rights Holders. If FSEP VI (on
behalf of the FS Stockholders) or Reed (on behalf of the Reed Stockholders) requests an S-3 Registration meeting all of the foregoing requirements, each of the other Stockholders (or their Permitted
Transferees) and each of the Other Registration Rights Holders shall be entitled to submit to the Company, within 10 days after receipt of notice of such request for an S-3 Registration, a written request to
join in such S¬3 Registration, and if such a follow-on request is made, thereupon the other Stockholders or Other Registration Rights Holders who made such a
follow-on request shall be entitled to include Registrable Securities in such S-3 Registration on a pro rata basis, determined based on the Pro Rata Share then held by
the participating Stockholders (including Permitted Transferees) and the Other Registration Rights Holders up to the number of Registrable Securities proposed to be sold in such S¬3 Registration. 

(b) Effective Registration. A registration will not count as a S-3 Registration (or request
therefor) until it has become effective. 

  
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 (c) Underwritten Offering. If the Company or the initiating Stockholder of a S-3 Registration so elects, the offering of such Registrable Securities pursuant to such S-3 Registration shall be in the form of an underwritten offering. The Company and the
initiating Stockholder of the S-3 Registration shall jointly select one or more nationally recognized firms of investment bankers to act as the managing Underwriter or Underwriters in connection with such
offering and shall jointly select any additional managers to be used in connection with the offering. 
 (d) Required Delays.
Notwithstanding anything contained in this Section 2.2 to the contrary, if any request for S-3 Registration is delivered at a time when (i) a Demand Registration has become
effective in the previous 90 days, (ii) the Company has filed a Registration Statement with respect to an underwritten primary registration of Common Stock on behalf of the Company that has become effective in the previous 90 days or has
determined or is currently planning (and the Board has approved or is expected to approve such determination or plan) to file such a Registration Statement (so long as a Registration Statement is filed with respect thereto within one month of the
Stockholder’s or Stockholders’ request for S-3 Registration), in which case the Company may require the Stockholder or Stockholders to postpone such request until the expiration of the 90-day period following the effective date of such registration, or (iii) in the opinion of a majority of the Company’s Board such registration would result in a Material Event Postponement, the Company,
with the prior authorization of the Board, may require the Stockholder to postpone such request for an appropriate period (not to exceed 90 days in any 12 month period); provided, however, that the Company may not require such a
postponement more than one time for the conditions described in clauses (i) or (ii) above in any 12 month period. In the event of a Material Event Postponement, the Company shall use its reasonable best efforts to effect such registration as
promptly as possible after removal of the reasons for the Material Event Postponement. 
 2.3 Piggy-Back Registration. If at any time
after the closing of the Company’s Qualified IPO, the Company proposes to file a Registration Statement under the Securities Act, with respect to an offering by the Company for its own account or for the account of any of its respective
security holders of any security of the same class as the Registrable Securities (other than a Registration Statement on Form S-4 or S-8 (or any substitute form that may
be adopted by the SEC), or a Registration Statement filed in connection with an exchange offer or offering of securities solely to the Company’s existing security holders), which registration would permit the inclusion of such Registrable
Securities pursuant to this Section 2.3, then the Company shall give written notice of such proposed filing to the Stockholders and Other Registration Rights Holders as soon as practicable, and such notice shall offer such
Stockholders (and their Permitted Transferees) and Other Registration Rights Holders the opportunity to register such number of shares of Registrable Securities as each such Stockholder or Other Registration Rights Holder may request in writing
within 10 days of receipt of such notice (which request shall specify the Registrable Securities intended to be disposed of by such Stockholder or Other Registration Rights Holder and the intended method of distribution thereof) (a
“Piggy-Back Registration”). The Company shall use its best efforts to cause the managing Underwriter or Underwriters of a proposed underwritten offering to permit the Registrable Securities requested to be included in a Piggy-Back
Registration to be included on the same terms and conditions as any similar securities of the Company included therein to permit the sale or other disposition of such Registrable Securities in accordance with the intended method of distribution
thereof. Subject to Section 2.4(b), any Stockholder or Other Registration Rights Holder shall have the right to withdraw its request for inclusion of its Registrable Securities in any Piggy-Back Registration by giving
written notice to the Company of its request to withdraw within 10 days of its request for inclusion; provided, that the Registration Statement including such shares (a “Piggy-Back Registration Statement”) is not yet
effective. The Company may withdraw a Piggy-Back Registration Statement at any time prior to the time it becomes effective in its sole discretion. 

  
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 2.4 Reduction of Offering. 

(a) Notwithstanding anything contained herein, if the managing Underwriter or Underwriters of an offering described in
Section 2.1, Section 2.2 or Section 2.3 determine that the size of the offering that the Stockholders, the Company or any other Persons intend to make is such that the
success of the offering or the price at which the offering would reasonably be expected to occur would be adversely affected by inclusion of the Registrable Securities requested to be included, then (i) with respect to a Demand Registration or
an S-3 Registration, if the size of the offering is the basis of such Underwriter’s or Underwriters’ determination, the Company shall not be required to include in such registration an amount of
Registrable Securities requested to be included in such offering equal to the Excess Amount, such reduction to be allocated pro rata among all Selling Holders according to the Pro Rata Share of such Selling Holders, and (ii) in the case of a
Piggy-Back Registration, if securities are being offered for the account of other Persons as well as the Company, the securities the Company seeks to include shall have priority over securities sought to be included by any other Person (including
the Stockholders and Other Registration Rights Holders) and, with respect to the Registrable Securities intended to be offered by Stockholders or Other Registration Rights Holders, any reduction in the amount of securities to be offered by such
Stockholders or Other Registration Rights Holders will be allocated pro rata among all Stockholders or Other Registration Rights Holders according to their Pro Rata Share (it being understood that with respect to the Stockholders and Other
Registration Rights Holders, such reduction may be all of such class of securities). 
 (b) If, as a result of the proration provisions of
Section 2.4(a), any Stockholder or Other Registration Rights Holder shall not be entitled to include all Registrable Securities in a Demand Registration, S-3 Registration or
Piggy-Back Registration that such Stockholder or Other Registration Rights Holder has requested to be included, such Stockholder or Other Registration Rights Holder may elect to withdraw his request to include Registrable Securities in such
registration (a “Withdrawal Election”); provided, however, that a Withdrawal Election shall be irrevocable and, after making a Withdrawal Election, a Stockholder or Other Registration Rights Holder shall no longer have any right to
include Registrable Securities in the registration as to which such Withdrawal Election was made. 
 ARTICLE III 

3.1 Filings; Information. Whenever FSEP VI (on behalf of the FS Stockholders) or Reed (on behalf of the Reed Stockholders) requests
that any Registrable Securities be registered pursuant to Section 2.1 or Section 2.2, the Company shall use its reasonable best efforts to effect the registration of such Registrable Securities in
accordance with the intended method of disposition thereof as quickly as practicable, and in connection with any such request: 
 (a) The
Company shall, subject to Section 2.1(d) or Section 2.2(d), as applicable, as expeditiously as practicable prepare and file with the SEC a Registration Statement on any form for which the Company
then qualifies and which form shall be available for the sale 

  
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of the Registrable Securities to be registered thereunder in accordance with the intended method of distribution thereof, and use its reasonable best efforts to cause such filed registration
statement to be declared effective as expeditiously as practicable thereafter, and use reasonable best efforts to cause such Registration Statement to remain effective until the earlier of (i) 90 days from the date such Registration Statement was
declared effective or (ii) the date on which the sale of Registrable Securities has been completed. If the Company receives multiple requests for registration in accordance with this Agreement, then, except as provided in
Section 2.1(a) or Section 2.2(a), such requests shall be given priority based upon the order in which they were received. 

(b) The Company shall, prior to filing any Registration Statement, prospectus, or any amendment or supplement thereto, furnish to each Selling
Holder and one counsel representing all the Selling Holders and each Underwriter, if any, of the Registrable Securities covered by such Registration Statement, copies of each such document as proposed to be filed, together with exhibits thereto,
which documents, in the case of a Demand Registration or S-3 Registration, will be subject to review and comment by one counsel representing all the Selling Holders (and the Company will make such changes and
additions thereto as reasonably requested), and thereafter furnish to each Selling Holder, such counsel and Underwriter, if any, such number of copies of such Registration Statement, each amendment and supplement thereto (in each case including all
exhibits thereto and documents incorporated by reference therein), the prospectus included in such registration statement (including each preliminary prospectus) and such other documents as such Selling Holder or Underwriter may reasonably request
in order to facilitate the disposition of the Registrable Securities owned by such Selling Holder pursuant to such Registration Statement. 

(c) After the filing of the Registration Statement, the Company shall promptly notify each Selling Holder of Registrable Securities covered by
such Registration Statement of any stop order issued or threatened by the SEC and promptly take all reasonable actions required to prevent the entry of such stop order or to remove it if entered. 

(d) The Company shall use its reasonable best efforts to (i) register or qualify the Registrable Securities under such other securities
or blue sky laws of such jurisdictions in the United States as any Selling Holder reasonably (in light of such Selling Holder’s intended plan of distribution) requests and (ii) cause such Registrable Securities to be registered with or
approved by such other governmental agencies or authorities in the United States as may be necessary by virtue of the business and operations of the Company and do any and all other acts and things that may be reasonably necessary or advisable to
enable such Selling Holder to consummate the disposition of the Registrable Securities owned by such Selling Holder; provided, however, that the Company shall not be required to (A) qualify generally to do business in any
jurisdiction where it would not otherwise be required to qualify but for this paragraph (d), (B) subject itself to taxation in any such jurisdiction or (C) consent to general service of process in any such jurisdiction where it would not
otherwise be required to qualify but for this paragraph (d). 
 (e) The Company shall immediately notify each Selling Holder of such
Registrable Securities, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of the occurrence of any event requiring the preparation of a supplement or amendment to such prospectus so that, as
thereafter delivered to the purchasers of such 

  
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Registrable Securities or otherwise used in connection with the sale thereof, such prospectus will comply with the requirements of the Securities Act and the rules and regulations thereunder and
will not contain an untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading and promptly make available to each Selling Holder copies of any such
supplement or amendment. 
 (f) The Company shall enter into customary agreements (including, if applicable, an underwriting agreement and lock-up agreement in customary forms) and take such other actions as are reasonably required in order to expedite or facilitate the disposition of such Registrable Securities. 

(g) The Company shall promptly deliver to each Selling Holder of such Registrable Securities and each Underwriter, if any, subject to
restrictions imposed by the United States federal government or any agency or instrumentality thereof, copies of all written correspondence between the SEC and the Company, its counsel or auditors with respect to the Registration Statement (or, in
the case of substantive unwritten correspondence, a description thereof) and make available for inspection by any Selling Holder of such Registrable Securities, any Underwriter participating in any disposition pursuant to such Registration Statement
and any attorney, accountant or other professional retained by any such Selling Holder or Underwriter (collectively, the “Inspectors”), all pertinent financial and other records, corporate documents and properties of the Company
(collectively, the “Records”), subject to each Selling Holder, on behalf of itself and its agents, entering into a customary confidentiality agreement in a form reasonably acceptable to the Company, and to restrictions imposed by
any governmental authority governing access to classified information, as shall be reasonably necessary to enable them to conduct a reasonable due diligence investigation, and cause the Company’s officers, directors and employees to supply all
information reasonably requested by any Inspectors in connection with such Registration Statement. Notwithstanding the foregoing, records that the Company determines, in good faith, to be confidential and which it notifies the Inspectors are
confidential or that the provision of such records would forfeit attorney-client privilege shall not be disclosed by the Inspectors unless (i) the disclosure of such Records is necessary to avoid or correct a misstatement or omission in such
registration statement or (ii) to the extent it is required by a court or administrative order or other legal process or by applicable law; provided that each Selling Holder of such Registrable Securities further agrees that it will,
upon learning that disclosure of such Records is sought pursuant to clause (ii), give notice to the Company and allow the Company, at its expense, to undertake appropriate action to prevent disclosure of the Records deemed confidential. Each Selling
Holder of such Registrable Securities agrees that information obtained by it solely as a result of such inspections shall be deemed confidential and shall not be used by it or its agents as the basis for any transactions in the securities of the
Company or its Affiliates unless and until such is made generally available to the public. 
 (h) The Company shall otherwise use reasonable
best efforts to comply with all applicable rules and regulations of the SEC, and make available to its security holders, as soon as reasonably practicable, an earnings statement covering a period of 12 months, beginning within three months after the
effective date of the registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder. 

  
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 (i) The Company shall use reasonable best efforts to cause all such Registrable Securities
to be listed on each national securities exchange or automated quotation system on which similar securities issued by the Company are then traded, listed or quoted (if any). 

(j) The Company may require each Selling Holder of Registrable Securities to promptly furnish in writing to the Company such information
regarding the distribution of the Registrable Securities and the Selling Holder as the Company may from time to time reasonably request and such other information as may be legally required in connection with such registration. 

(k) The Chairman of the Board of Directors of the Company, the Chief Executive Officer of the Company and other members of the management of
the Company shall reasonably cooperate in any offering of Registrable Securities pursuant to Section 2.1 or Section 2.2, including, without limitation, participation in meetings with potential investors, preparation of materials for such
investors, and making management of the Company available for “road show” presentations and similar selling efforts. 
 Each
Selling Holder agrees that, upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.1(e) hereof, such Selling Holder will immediately discontinue disposition of
Registrable Securities pursuant to the Registration Statement covering such Registrable Securities until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by
Section 3.1(e) hereof (such period during which a Selling Holder is required to refrain from disposition of Registrable Securities, a “Suspension Period”), and, if so directed by the Company, such Selling
Holder will deliver to the Company all copies, other than permanent file copies then in such Selling Holder’s possession, of the most recent prospectus covering such Registrable Securities at the time of receipt of such notice. In the event the
Company shall give such notice, the Company shall extend the period during which such Registration Statement shall be maintained effective (including the period referred to in Section 3.1(a) hereof) by the number of days
during the period from and including the date of the giving of notice pursuant to Section 3.1(e) hereof to the date when the Company shall make available to the Selling Holders of Registrable Securities covered by such
Registration Statement a prospectus supplemented or amended to conform with the requirements of Section 3.1(e) hereof. 

3.2 Registration Expenses. In connection with any Demand Registration pursuant to Section 2.1, any S-3 Registration pursuant to Section 2.2 and any registration statement filed pursuant to Section 2.3, the Company shall pay the following registration expenses
incurred in connection with the registration thereunder, whether or not such registration becomes effective: (i) all registration and filing fees, (ii) all fees and expenses of compliance with securities or blue sky laws, (iii) all
printing expenses, (iv) all of the Company’s internal expenses (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting duties), (v) all fees and expenses, if any, incurred in
connection with the listing of the Registrable Securities, (vi) all fees and disbursements of counsel for the Company and all fees and expenses of the Company’s independent registered public account firm and other auditors retained by the
Company, (vii) all fees and expenses of any special experts retained by the Company in connection with such registration, and (viii) with respect to a Demand Registration or an S-3 Registration, the
reasonable fees and expenses of one counsel (who shall be reasonably acceptable to the Company) for all of the Selling Holders (in addition to counsel for the Company), with such counsel selected 

  
 11 

 
by Stockholders holding a majority of the Registrable Securities being registered in such Demand Registration or S-3 Registration. The Company shall have
no obligation to pay any underwriting fees, discounts or commissions attributable to the sale of Registrable Securities by the Selling Holders, or any other selling or other
out-of-pocket expenses of the Selling Holders except as expressly set forth in this Agreement. 

ARTICLE IV 
 4.1
Indemnification by the Company. 
 (a) The Company agrees to indemnify and hold harmless each Selling Holder, its officers, directors
and agents, and each Person, if any, who controls such Selling Holder within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act from and against any loss, claim, damage or liability and any action in respect
thereof to which such Selling Holder, its officers, directors and agents, and any such controlling Person may become subject under the Securities Act or otherwise, insofar as such loss, claim, damage, liability or action arises out of, or is based
upon, any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement or prospectus relating to the Registrable Securities (as amended or supplemented if the Company shall have furnished any amendments or
supplements thereto) or any preliminary prospectus, or arises out of, or is based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and
shall reimburse each Selling Holder, its officers, directors and agents, and each such controlling Person for any legal and other expenses reasonably incurred by that Selling Holder, its officers, directors and agents, or any such controlling Person
in investigating or defending or preparing to defend against any such loss, claim, damage, liability or action. The Company also agrees to indemnify any Underwriters of the Registrable Securities, their officers and directors and each Person who
controls such Underwriters on substantially the same basis as that of the indemnification of the Selling Holders provided in this Section 4.1. 

(b) The indemnity agreement contained in Section 4.1(a) shall not apply to amounts paid in settlement of any such
loss, claim, damage or liability and any action in respect thereof if such settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld, conditioned or delayed), nor shall the Company be liable in any
such case for any loss, claim, damage, liability and any action in respect thereof to the extent that it arises from or is based upon written information relating to the Indemnified Party furnished expressly for use in connection with such
registration by such Person, nor shall the Company be liable to any Person for any such loss, claim, damage or liability and any action in respect thereof to the extent it arises from or is based upon (a) any untrue statement or alleged untrue
statement of a material fact contained in any Registration Statement or prospectus relating to the Registrable Securities delivered by such Person after such Person had received written notice from the Company pursuant to
Section 3.1(e) that such Registration Statement or prospectus contained such untrue statement or alleged untrue statement of a material fact and stating specifically that a Suspension Period is then in effect, (b) any
omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading after such Person has received written notice from the Company pursuant to
Section 3.1(e) that such Registration Statement or prospectus contained such omission or alleged omission and stating specifically that a Suspension Period is then in effect, or (c) the failure of such Person to
deliver any preliminary or final prospectus, or any amendments or supplements thereto, required under applicable securities laws, including the Securities Act, to be so delivered. 

  
 12 

 4.2 Indemnification by Selling Holders. Each Selling Holder agrees, severally but not
jointly, to indemnify and hold harmless the Company, its officers, directors and agents and each Person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act to the same
extent as the foregoing indemnity from the Company to such Selling Holder, but only with reference to information related to such Selling Holder furnished in writing by such Selling Holder or on such Selling Holder’s behalf expressly for use in
any Registration Statement or prospectus relating to the Registrable Securities, or any amendment or supplement thereto, or any preliminary prospectus. Each Selling Holder also agrees to indemnify and hold harmless Underwriters of the Registrable
Securities, their officers and directors and each Person who controls such Underwriters on substantially the same basis as that of the indemnification of the Company provided in this Section 4.2. In no event, however, shall
any indemnity obligation under this Section 4.2 exceed the net proceeds from the offering received by such Selling Holder. 

4.3 Conduct of Indemnification Proceedings. Promptly after receipt by any Person in respect of which indemnity may be sought pursuant
to Section 4.1 or Section 4.2 (an “Indemnified Party”) of notice of any claim or the commencement of any action, the Indemnified Party shall, if a claim in respect thereof is to be
made against the Person against whom such indemnity may be sought (an “Indemnifying Party”) promptly notify the Indemnifying Party in writing of the claim or the commencement of such action provided that the failure to notify the
Indemnifying Party shall not relieve it from any liability which it may have to an Indemnified Party except to the extent of any actual prejudice resulting therefrom. If any such claim or action shall be brought against an Indemnified Party, and it
shall notify the Indemnifying Party thereof, the Indemnifying Party shall be entitled to participate therein, and, to the extent that it wishes, jointly with any other similarly notified Indemnifying Party, to assume the defense thereof with counsel
satisfactory to the Indemnified Party. After notice from the Indemnifying Party to the Indemnified Party of its election to assume the defense of such claim or action, the Indemnifying Party shall not be liable to the Indemnified Party for any legal
or other expenses subsequently incurred by the Indemnified Party in connection with the defense thereof; provided, however, that the Indemnified Party shall have the right to employ separate counsel to represent the Indemnified Party
and its controlling Persons who may be subject to liability arising out of any claim in respect of which indemnity may be sought by the Indemnified Party against the Indemnifying Party, but the fees and expenses of such counsel shall be for the
account of such Indemnified Party unless (i) the Indemnifying Party and the Indemnified Party shall have mutually agreed otherwise or (ii) based upon the advice of counsel of such Indemnified Party representation of both parties by the
same counsel would be inappropriate due to actual or potential conflict of interests between them, in which case the Indemnifying Party shall be responsible for the reasonable fees and expense of one counsel for the Indemnified Party. The
Indemnifying Party shall not be liable for any settlement of any proceeding effected without its written consent (which consent shall not be unreasonably withheld, conditioned or delayed), but if settlement is made with such consent or if an
Indemnified Party is entitled to indemnification hereunder and there is a final judgment for the plaintiff, the Indemnifying Party shall indemnify the Indemnified Party from and against any loss, claim, damage, or liability by reason of such
settlement or judgment. No Indemnifying Party shall, without the prior written consent of the Indemnified Party, effect any settlement of any claim or pending or threatened proceeding in respect of which the Indemnified Party is or could have been a
party and indemnity could have been sought hereunder by such Indemnified Party, unless such settlement includes an unconditional release of such Indemnified Party from all liability arising out of such claim or proceeding. 

  
 13 

 4.4 Contribution. If the indemnification provided for in this Article IV is
unavailable to, or is insufficient to hold harmless, the Indemnified Parties in respect of any losses, claims, damages or liabilities referred to herein, then each such Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall
contribute to the amount paid or payable by such Indemnified Party as a result of such losses, claims, damages or liabilities in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the
indemnified party on the other in connection with the statements or omissions which resulted in such loss, claim, damage, liability or action as well as any other relevant equitable considerations; provided, however, that no person
found guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) by a court of competent jurisdiction shall be entitled to contribution from any person who was not guilty of such fraudulent
misrepresentation. The relative fault of the indemnifying party and of the indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged
omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or
omission. Each Selling Holder’s obligations to contribute pursuant to this Section 4.4 are several in that proportion which the net proceeds of the offering received by such Selling Holding bears to the total net
proceeds of the offering received by all the Selling Holders, and not joint. 
 The Company and the Selling Holders agree that it would not
be just and equitable if contribution pursuant to this Section 4.4 were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to in the
immediately preceding paragraph. The amount paid or payable by an Indemnified Party as a result of the losses, claims, damages or liabilities referred to in the immediately preceding paragraph shall be deemed to include, subject to the limitations
set forth above, any legal or other expenses reasonably incurred by such Indemnified Party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 4.4, no
Selling Holder shall be required to contribute any amount in excess of the net proceeds from the offering received by such Selling Holder. 

4.5 Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in any underwriting
agreement entered into in connection with any underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control. 

ARTICLE V 
 5.1
Participation in Underwritten Registrations. No Person may participate in any underwritten registration hereunder unless such Person (a) agrees to sell such Person’s securities on the basis provided in any underwriting arrangements
approved by the Persons entitled hereunder to approve such arrangements and (b) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements, lock-up agreements and
other documents reasonably required under the terms of such underwriting arrangements and this Agreement. 

  
 14 

 5.2 Rule 144. The Company covenants that, after it becomes subject to the reporting
obligations of the Exchange Act, it shall use reasonable best efforts to file any reports required to be filed by it under the Exchange Act and that it shall take such further action as any Stockholder (or Permitted Transferee) may reasonably
request, all to the extent reasonably required from time to time to enable Stockholders (and Permitted Transferees) to sell Registrable Securities without registration under the Securities Act within the limitation of the exemptions provided by
(a) Rule 144 under the Securities Act, as such rule may be amended from time to time, or (b) any similar rule or regulation hereafter adopted by the SEC. Upon the request of any Stockholder (or Permitted Transferee), the Company shall
deliver to such Stockholder (or Permitted Transferee) a written statement as to whether it has complied with such requirements. 
 5.3
Holdback Agreements. 
 (a) In connection with any registration statement filed by the Company for an underwritten public offering,
each Stockholder of Registrable Securities (whether or not such Stockholder is participating in such registration) (i) agrees not to effect any sale or distribution of the security being registered or of a similar security of the Company, or
any securities convertible into or exchangeable or exercisable for such securities, including a sale pursuant to Rule 144 or Rule 144A under the Securities Act, during the seven days prior to and during the 180 days (in the case of the
Company’s Qualified IPO) or 90 days (in the case of other underwritten public offerings) beginning on and continuing after the effective date of such registration statement (except as part of such registration) or such shorter period as may be
reasonably requested by the managing underwriter, and (ii) agrees to enter into customary lock-up agreements reasonably requested by the Company or the managing underwriter which are consistent with the
foregoing or which are necessary to give further effect thereto. Each such holdback period in clause (i) and lock-up agreement described in clause (ii) shall apply equally to all Stockholders.
Notwithstanding the foregoing, to the extent that the provisions contained in any underwriting agreement entered into in connection with any underwritten public offering are in conflict with the foregoing provisions, the provisions in the
underwriting agreement shall control. 
 (b) With respect to a Demand Registration effected pursuant to
Section 2.1 or an S-3 Registration effected pursuant to Section 2.2 hereof, the Company agrees not to effect any sale or distribution of any securities
similar to those being registered in accordance with Section 2.1 or Section 2.2 hereof, or any securities convertible into or exchangeable or exercisable for such securities, during such period as
is reasonably required by the Underwriter beginning on and continuing after the effective date of any registration statement (except as part of a registration statement where the Stockholder making such Demand Registration or S-3 Registration consents) or the commencement of a public distribution of Registrable Securities; provided, however, that the provisions of this paragraph (b) shall not prevent the conversion or
exchange of any securities pursuant to their terms into or for other securities and shall not prevent the issuance of securities by the Company pursuant to any Registration Statement on Form S-4 or S-8 (or any substitute form that may be adopted by the SEC) or a Registration Statement filed in connection with an exchange offer or offering of securities solely to the Company’s existing security holders,
under any employee benefit, stock option or stock subscription plans or in private placements. 

  
 15 

 5.4 Limitations on Subsequent Registration Rights. From and after the date of this
Agreement, the Company shall not, without the prior written consent of FSEP VI, enter into any agreement with any holder or prospective holder of any securities of the Company that would grant any registration rights to third parties that are more
favorable than or inconsistent with the rights granted hereunder. 
 5.5 Successors and Assigns. This Agreement, and all obligations
and rights hereunder, shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns; provided, however, that no rights of any Stockholder under this Agreement may be assigned to any Person
other than to a Permitted Transferee of such Stockholder, and no such Permitted Transferee shall be allowed to further transfer or assign such rights to any third Person; and provided, further, that prior to (and as a condition
precedent to the effectiveness of) any assignment or other transfer from a Stockholder to a Permitted Transferee thereof, such Permitted Transferee shall enter into a written agreement with such Stockholder and the Company (which shall also be for
the benefit of the other parties hereto and all other Permitted Transferees), in form and substance reasonably satisfactory to the Company, agreeing to be bound by all terms and conditions of this Agreement which are applicable to such Stockholder.

 5.6 No Waivers; Amendments. 

(a) No failure or delay by any party in exercising any right, power, or privilege hereunder shall operate as a waiver thereof, nor shall any
single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies
provided by law. 
 (b) This Agreement may be amended, modified or supplemented only with the written consent of FSEP and Reed. Any such
amendment, modification or supplement so consented to in writing shall be binding upon the parties hereto and their successors and permitted assigns (if any). 

(c) Any provision of this Agreement may be waived if, but only if, such waiver is in writing and is signed by the party against whom the
enforcement of such waiver is sought. 
 5.7 Notices. All notices, requests, demands and other communications under this Agreement
must be in writing and will be deemed duly given, unless otherwise expressly indicated to the contrary in this Agreement, (i) when personally delivered, (ii) upon receipt of a telephonic facsimile transmission with a confirmed telephonic
transmission answer back or (iii) one (1) business day after having been dispatched by a nationally recognized overnight courier service, addressed to the parties or their permitted assigns at the addresses set forth on Exhibit A (or at
such other address or number as is given in writing by either party to the other). 
 5.8 Governing Law. This Agreement shall be
construed in accordance with and governed by the laws of the State of Delaware, without regard to any conflicts or choice of law principles that would require the application of the laws of any other jurisdiction. 

  
 16 

 5.9 Entire Agreement. This Agreement constitutes the entire agreement and
understanding among the parties hereto with respect to the subject matter hereof and supersedes any and all prior agreements and understandings, written or oral, relating to the subject matter hereof. 

5.10 Severability. Any term or provision of this Agreement which is invalid or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such invalidity or unenforceability without rendering invalid or unenforceable the remaining terms and provisions of this Agreement or affecting the validity or enforceability of any of the terms or
provisions of this Agreement in any other jurisdictions, it being intended that all rights and obligations of the parties hereunder shall be enforceable to the fullest extent permitted by law. 

5.11 Counterparts. This Agreement may be executed in any number of counterparts (including by facsimile or other electronic
transmission), each of which shall be deemed an original, but all of which taken together shall constitute one and the same instrument. 

[Signature Page Follows] 

  
 17 

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

					
	COMPANY:
	
	ARHAUS, INC.,
a Delaware corporation

 
					
		
	By:	 	 
		 	Name:
		 	Title:
	
	FS EQUITY PARTNERS VI, L.P.,
a Delaware limited partnership

 
					
		
	By:	 	FS CAPITAL PARTNERS VI, LLC, Its General Partner

 
					
			
	     	 	By:	 	 
		 		 	Name:
		 		 	Title:
	
	FS AFFILIATES VI, L.P.,
a Delaware limited partnership
		
	By:	 	FS CAPITAL PARTNERS VI, LLC, Its General Partner

 
					
			
	     	 	By:	 	 
		 		 	Name:
		 		 	Title:
	
	REED STOCKHOLDERS:
	
	 
	John Reed
	[Others]

  
 [Signature Page to
Registration Rights Agreement] 

 SCHEDULE A 

FS STOCKHOLDERS AND ADDRESSES FOR NOTICE 
  

			
	 FS Stockholder
	  	 Address for Notice

		
	FS Equity Partners VI, L.P.	  	 c/o Freeman Spogli & Co.
 11100 Santa
Monica Blvd., Suite 1900
 Los Angeles, CA 90025
 Attention:
Brad Brutocao
 Facsimile: (310) 444-1870
  

with a copy to:
  

Morgan, Lewis & Bockius LLP
 101 Park Avenue

New York, NY 10178
 Attention: Christina Edling Melendi

Facsimile: (212) 309-6001

		
	FS Affiliates VI, L.P.	  	 c/o Freeman Spogli & Co.
 11100 Santa
Monica Blvd., Suite 1900
 Los Angeles, CA 90025
 Attention:
Brad Brutocao
 Facsimile: (310) 444-1870
  

with a copy to:
  

Morgan, Lewis & Bockius LLP
 101 Park Avenue

New York, NY 10178
 Attention: Christina Edling Melendi

Facsimile: (212) 309-6001

		
	Starrett Family Trust, Dated 4-11-99	  	
		
	Norman Matthews	  	
		
	Greg Bettinelli	  	

  
 A-1 

 SCHEDULE B 

REED STOCKHOLDERS AND ADDRESSES FOR NOTICE 
  

			
	 Reed Stockholder
	  	 Address for Notice

		
	John Reed	  	
		
	2018 Dynasty Trust	  	
		
	John P. Reed Trust U/A/D 4/29/85	  	
		
	The Reed 2019 GRAT	  	
		
	The Reed 2013 GST TrustEX-4.3

 Exhibit 4.3 

FORM OF INVESTOR RIGHTS AGREEMENT 

THIS INVESTOR RIGHTS AGREEMENT (this “Agreement”), dated as of [•], 2021 (the “Effective Date”), is
among Arhaus, Inc., a Delaware corporation (the “Company”), FS Equity Partners VI, L.P., a Delaware limited partnership (“FS Equity”), FS Affiliates VI, L.P., a Delaware limited partnership (“FS
Affiliates” and together with FS Equity, “Sponsor”), John P. Reed (“Reed”), 2018 Reed Dynasty Trust u/a/d December 24, 2018 (“2018 Trust”), John P. Reed Trust u/a/d April 29, 1985
(“1985 Trust”), Reed 2013 Generation-Skipping Trust u/a/d October 22, 2013 (the “2013 Trust”), and The John P. Reed 2019 GRAT u/a/d December 31, 2019 (“2019 Trust” and together with Reed,
2018 Trust, 1985 Trust, the 2013 Trust, the “Reed Entities”). 
 ARTICLE I 

DEFINITIONS; RULES OF CONSTRUCTION 

SECTION 1.01. Definitions. The following terms, as used herein, have the following meanings: 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling, controlled by or under direct
or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any Person means the power to direct the management and policies of such Person, directly or indirectly,
whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. No Person shall be deemed to be an Affiliate of
another Person solely by virtue of the fact that both Persons own shares of the Company’s Capital Stock. 

“Agreement” has the meaning set forth in the preamble. 

“Board” means the Board of Directors of the Company. 

“Capital Stock” means, with respect to any Person, any and all shares, interests, participations, rights in or other
equivalents (however designated) of such Person’s capital stock, and any rights, warrants or options exercisable or exchangeable for or convertible into such capital stock. 

“Class A Common Stock” means the Class A Common Stock, par value $0.0001 per share, of the Company.

 “Common Stock” means the Class A Common Stock and the Class B Common Stock, par value $0.001 per share, of the
Company. 
 “Company” has the meaning set forth in the preamble. 

“End Date” shall mean the date on which Sponsor ceases to own at least 20% of the number of shares of Class A Common
Stock held by the Sponsor on the Effective Date. 
 “Effective Date” has the meaning set forth in the preamble. 

“Founder Director” has the meaning set forth in Section 3.01(b). 

“FS Affiliates” has the meaning set forth in the preamble. 

“FS Equity” has the meaning set forth in the preamble. 

“Necessary Action” means, with respect to a specified result, all commercially reasonable actions required to cause such
result that are within the power of a specified Person, including (i) voting or providing a written consent or proxy, or soliciting such votes, written consents or proxies, with respect to the Common Stock in at each annual or special meeting
of the stockholders of the Company called for the election of directors, and whenever the stockholders of the Company act by written consent with respect to the election of directors, (ii) 

 
causing the adoption of stockholders’ resolutions approving amendments to the organizational documents of the Company and the adoption of such amendments, (iii) executing agreements and
instruments, (iv) making, or causing to be made, with governmental, administrative or regulatory authorities, all filings, registrations or similar actions that are required to achieve such result and (v) causing members of the Board of
Directors, subject to any fiduciary duties that such members may have as directors of the Company (including pursuant to Section 3.02(c)), to act in a certain manner, including causing members of the Board of Directors or
any nominating or similar committee of the Board of Directors (the “Nominating Committee”) to nominate, appoint or recommend the nomination, appointment or election of the Founder Director and the Sponsor Designees as provided by
this Agreement, in each case, except to the extent action would violate applicable securities laws or stock exchange or stock market rules. 

“Permitted Transferee” means: 

(i) with respect to any stockholder of the Company who is a natural person, (a) such stockholder’s immediate family
(for purposes of this agreement, “immediate family” shall mean any relationship by blood, marriage, or adoption, not more remote than first cousin), (b) any trust which is for the primary benefit of such stockholder or one or more members
of such stockholder’s immediate family, and (c) a charitable organization that is controlled by such stockholder, including but not limited to a community foundation which permits donor participation in directing charitable donations from
charitable gifts given by such stockholder; 
 (ii) with respect to any stockholder of the Company that is a trust, to
(a) the settlor, trustee, or beneficiaries of the trust, or as otherwise permitted under the terms of the instrument governing the trust, (b) immediate family members of a trust beneficiary, and (c) any other trust, limited liability
company, partnership, or other entity intended to act as an estate planning vehicle solely for the benefit of any of the foregoing persons; 

(iii) with respect to any stockholder of the Company that is not a natural person or a trust, any Affiliate of such
stockholder; 
 (iv) to the extent such stockholder is an investment fund, (a) any Related Person of such stockholder,
(b) any investor in such stockholder that receives a pro rata distribution of shares of Common Stock to all investors in such stockholder, and (c) any Person acquiring all or substantially all of the investment portfolio of such
stockholder; 
 provided, that in any of such cases, such Permitted Transferee (i) is an accredited investor within the meaning
of Regulation D under the 1933 Act and (ii) executes a Joinder Agreement in the form attached hereto as Exhibit A. 

“Person” means an individual, a corporation, a general or limited partnership, a limited liability company, a joint stock
company, an association, a trust or any other entity or organization, including a government, a political subdivision or an agency or instrumentality thereof. 

“Related Person” means, with respect to any Person, (i) an Affiliate of such Person, (ii) any investment manager,
investment partnership, investment adviser or general partner of such Person, (iii) any investment fund, investment partnership, investment account or other investment Person whose investment manager, investment adviser, managing member or
general partner is such Person or a Related Person of such Person and (iv) any equity investor, partner, officer, member or manager of such Person; provided, however, that no Person shall be deemed an Affiliate of another Person
solely by virtue of the fact that both Persons own shares of the Capital Stock of the Company. 
 “Representatives” means,
with respect to any specified Person, such Person and such Person’s Affiliates, their successors and assigns and any of their respective agents, employees, stockholders, partners, members, representatives, officers, advisers and directors. 

“Securities Act” means the Securities Act of 1933. 

  
 2 

 “Sponsor” has the meaning set forth in the preamble. 

“Sponsor Designees” has the meaning set forth in Section 3.02(a). 

SECTION 1.02. Rules of Construction. 

(a) Whenever any provision of this Agreement calls for any calculation based on a number of shares of Common Stock issued and outstanding or
held by a Stockholder, the number of shares of Common Stock deemed to be issued and outstanding or held by that Stockholder, unless specifically stated otherwise, as applicable, shall be the total number of shares of Common Stock then issued and
outstanding or owned by the Stockholder and its Permitted Transferees. 
 (b) Any provision of this Agreement that refers to the words
“include,” “includes” or “including” shall be deemed to be followed by the words “without limitation.” References to numbered or letter articles, sections and subsections refer to articles, sections and
subsections, respectively, of this Agreement unless expressly stated otherwise. All references to this Agreement include, whether or not expressly referenced, the Exhibits and Schedules attached hereto. References to a Section, paragraph, Exhibit or
Schedule shall be to a Section or paragraph of, or Exhibit or Schedule to, this Agreement unless otherwise indicated. The words “hereof,” “herein” and “hereunder” and words of similar import when
used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement. The word “or” when used in this Agreement is not exclusive. The definitions contained in this Agreement are
applicable to the singular as well as the plural forms of such terms. Any agreement, instrument, law or statute defined or referred to herein or in any agreement or instrument that is referred to herein means such agreement, instrument, or statute
as from time to time amended, modified or supplemented, including (in the case of agreements or instruments) by waiver or consent and (in the case of statutes) by succession of comparable successor statutes and references to all attachments thereto
and instruments incorporated therein unless otherwise indicated. References to a Person are also to its permitted successors and assigns. In the event that any claim is made by any Person relating to any conflict, omission or ambiguity in this
Agreement, no presumption or burden of proof or persuasion shall be implied by virtue of the fact that this Agreement was prepared by or at the request of a particular Person or its counsel. 

ARTICLE II 

REPRESENTATIONS AND WARRANTIES 

Each of the parties hereby severally represents and warrants to each of the other parties as follows: 

SECTION 2.01. Authority; Enforceability. Such party (a) has the legal capacity or organizational power and authority to execute,
deliver and perform its obligations under this Agreement and (b) (in the case of parties that are not natural persons) is duly organized and validly existing and in good standing under the laws of its jurisdiction of organization. This Agreement has
been duly executed and delivered by such party and constitutes a legal, valid and binding obligation of such party, enforceable against such party in accordance with the terms of this Agreement, subject to applicable bankruptcy, insolvency,
reorganization, moratorium and other laws affecting the rights of creditors generally and to the exercise of judicial discretion in accordance with general principles of equity (whether applied by a court of law or of equity). 

SECTION 2.02. Consent. No consent, waiver, approval, authorization, exemption, registration, license or declaration is required to be
made or obtained by such party, other than those that have been made or obtained on or prior to the date hereof, in connection with (a) the execution or delivery of this Agreement or (b) the consummation of any of the transactions
contemplated hereby. 

  
 3 

 ARTICLE III 

BOARD OF DIRECTORS 

SECTION 3.01. Size and Composition. As of the Effective Time, the authorized number of directors on the Board shall be nine. From and
after the Effective Date until the End Date, unless otherwise agreed in writing by Sponsor and the Reed Entities: 
 (a) each of Sponsor and
Reed Entities and their respective Permitted Transferees shall (i) vote or otherwise give its consent in respect of all shares of Common Stock (whether now owned or hereafter acquired) owned by such Person, and (ii) take all other
Necessary Action, to cause: 
 (A) the election to the Board of (I) John Reed or his designee (“Founder
Director”), and (II) any Sponsor Designee designated by Sponsor in accordance with Section 3.02, in each case, subject to his or her election by the stockholders of the Company; and 

(B) the removal from the Board of any director elected in accordance with clause (A) above, with or without cause,
(I) in the case of the Founder Director, upon the written request of John Reed, and (II) in the case of the Sponsor Designee, upon the written request of the Sponsor. 

(b) the Company shall take all Necessary Actions to cause (i) the matters set forth in clause (a) above to be carried out in
accordance with the provisions thereof and (ii) the number of directors on the Board not to exceed eleven. 
 SECTION 3.02. Sponsor
Designees. 
 (a) The Sponsor shall have the right, but not the obligation, to nominate for election or appointment to the Board (such
nominees, the “Sponsor Designees”) (subject, as applicable, to their election by the stockholders of the Company) that number of individuals that, if elected, will result in the Sponsor having the number of directors serving on the
Board that is shown below: 
 (i) two directors, so long as the Sponsor and its Permitted Transferees hold more than 60% of
the number of shares of Class A Common Stock held by the Sponsor on the Effective Date, and 
 (ii) one director, so
long as the Sponsor and its Permitted Transferees hold 20% or more of the number of shares of Class A Common Stock held by the Sponsor on the Effective Date. 

(b) If the Sponsor has nominated fewer than the total number of Sponsor Designees the Sponsor is entitled to nominate pursuant
to this Section 3.02, the Sponsor shall have the right, at any time, to nominate such additional number of Sponsor Designees to which it is entitled, in which case the other parties to this Agreement shall take all
Necessary Actions, as requested by the Sponsor, to (x) increase the size of the Board as required to enable the Sponsor to so nominate such additional Sponsor Designees and (y) appoint such additional Sponsor Designees nominated by the
Sponsor to fill such newly created vacancy or vacancies, as applicable. 
 (c) An individual designated by the Sponsor for
election as a director shall comply with any applicable requirements of the governing documents of the Company and the charter for, and related guidelines of, the Nominating Committee. 

SECTION 3.03. Committee Membership. On or prior to the End Date, the Sponsor and the Company shall take all Necessary Actions to cause
each of the Compensation Committee of the Board and the Nominating Committee of the Board to include in its membership at least one of the Sponsor Nominees designated by the Sponsor. 

SECTION 3.04. Subsidiaries. Except as otherwise agreed to among the Sponsor, John Reed and the Company, the Company shall take all
necessary action to cause the membership of the board of directors (or similar governing body) of Arhaus, LLC (or of a successor entity thereto that is the primary operating business of the Company and its subsidiaries) to be the same as that of the
Board. 

  
 4 

 ARTICLE IV 

MISCELLANEOUS 
 SECTION
4.01. Notices. All notices, demands or requests made pursuant to, under or by virtue of this Agreement must be in writing and sent to the party to which the notice, demand or request is being made at the address or facsimile number set forth
on the signature pages hereof or such other address or facsimile number as such party may hereafter specify in writing in accordance with this Section 4.01; provided, that: 

(a) unless otherwise specified by FS Equity or FS Affiliates in a notice delivered by FS Equity or FS Affiliates in accordance with this
Section 4.01, any notice required to be delivered to Sponsor shall be properly delivered if delivered to: 
 FS
Equity Partners VI, L.P. 
 c/o Freeman Spogli & Co. 

11100 Santa Monica Boulevard, Suite 1900 

Los Angeles, CA 90025 
 Attention:
Brad Brutocao 
 Telephone: (310) 444-1822 

Facsimile: (310) 444-1870 

with copies (which shall not constitute notice) to: 

Morgan Lewis & Bockius LLP 

101 Park Avenue 
 New York, NY
10178-0060 
 Attention: Christina Edling Melendi, Esq. 

Telephone: (212) 309-6949 

Facsimile: (212) 309-6001 

(b) unless otherwise specified by a Reed Entity in a notice delivered by such Reed Entity in accordance with this
Section 4.01, any notice required to be delivered to the Reed Entity shall be properly delivered if delivered to: 
  

                       
                                  

                       
                                  

                       
                                  

Attention:                     
                  

Telephone:                     
                  

Facsimile:                     
                  
 with copies (which shall not
constitute notice) to: 
  

                       
                                  

                       
                                  

                       
                                  

Attention:
                                       

Telephone:                     
                  
 Facsimile:
                                       

and 

  
 5 

 (c) unless otherwise specified by the Company in a notice delivered by the Company in
accordance with this Section 4.01, any notice required to be delivered to the Company shall be properly delivered if delivered to: 

Arhaus, Inc. 
 51 E. Hines Hill
Road 
 Boston Heights, OH 44236 

Attention: General Counsel 

Telephone: (440) 439-7700 

Facsimile: [    
                    ] 
 with a copy
(which shall not constitute notice) to: 
 Baker & Hostetler LLP 

127 Public Square, Suite 2000 

Cleveland, OH 44114 
 Attention:
Suzanne Hanselman 
 Telephone: (216) 861-7090 

Facsimile: (216) 696-0740 

Notice shall be delivered (i) by nationally recognized overnight courier delivery for next business day delivery, (ii) by hand delivery, or
(iii) by facsimile or electronic mail transmission if confirmation of transmission is received by the sender or no failure message is generated. Legal counsel for the respective parties may send to the other party any notices, requests, demands
or other communications required or permitted to be given hereunder by such party. Each such notice or other communication shall for all purposes of this Agreement be treated as effective, or as having been given, only upon receipt thereof at the
address specified hereunder. 
 SECTION 4.02. Binding Effect; Benefits. This Agreement shall be binding upon and inure to the benefit
of the parties to this Agreement and their respective successors and permitted assigns. Nothing in this Agreement, express or implied, is intended or shall be construed to give any person other than the parties to this Agreement or their respective
successors or permitted assigns any legal or equitable right, remedy or claim under or in respect of any agreement or any provision contained herein. 

SECTION 4.03. Amendment. This Agreement may not be amended, restated, modified or supplemented in any respect and the observance of any
term of this Agreement may not be waived except by a written instrument executed by the Reed Entities and the Sponsor; provided, that no amendment, restatement, modification, supplement or waiver of this Agreement that adversely affects the
Company shall be effective without the written consent of the Company (it being understood that requirements regarding Board and committee membership shall not be deemed to adversely affect the Company). 

SECTION 4.04. Assignability. Neither this Agreement nor any right, remedy, obligation or liability arising hereunder or by reason
hereof shall be assignable by any party hereto except as otherwise expressly stated hereunder or with the prior written consent of the Reed Entities and the Sponsor. 

SECTION 4.05. Governing Law; Submission to Jurisdiction. This Agreement shall be governed by and construed in accordance with the
internal laws of the State of Delaware, without giving effect to its principles of conflict of laws. The parties hereto irrevocably submit, in any legal action or proceeding relating to this Agreement, to the jurisdiction of the courts of the United
States located in the State of Delaware or in any Delaware state court located in Delaware county and consent that any such action or proceeding may be brought in such courts and waive any objection that they may now or hereafter have to the venue
of such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient forum. 
 SECTION 4.06.
Waiver of Jury Trial. Each party to this Agreement, for itself and its Related Persons, hereby irrevocably and unconditionally waives to the fullest extent permitted by applicable law all right to trial by jury in any action, proceeding or
counterclaim (whether based on contract, tort or otherwise) arising out of or relating to the actions of the parties hereto or their respective Related Persons pursuant to this Agreement or in the negotiation, administration, performance or
enforcement of this Agreement. 
 SECTION 4.07. Enforcement. The parties expressly agree that the provisions of this Agreement
may be specifically enforced against each of the parties hereto in any court of competent jurisdiction. 

  
 6 

 SECTION 4.08. Severability. If any provision of this Agreement shall be invalid,
illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. If any of this Agreement is so broad as to be unenforceable, the provision shall be interpreted to
be only so broad as is enforceable. 
 SECTION 4.09. Additional Securities Subject to Agreement. All shares of Common Stock that any
party hereto hereafter acquires by means of a stock split, stock dividend, distribution, exercise of options or warrants or otherwise (other than pursuant to a public offering) whether by merger, consolidation or otherwise (including shares of a
surviving corporation into which the shares of Common Stock are exchanged in such transaction) will be subject to the provisions of this Agreement to the same extent as if held on the date hereof. 

SECTION 4.10. Section and Other Headings. The section and other headings contained in this Agreement are for reference purposes only
and shall not affect the meaning or interpretation of this Agreement. 
 SECTION 4.11. Counterparts. This Agreement may be executed,
including by way of electronic signature (pdf and facsimile formats included), in any number of counterparts, each of which may be executed by less than all of the parties hereto, each of which shall be enforceable against the parties actually
executing such counterparts, and all of which together shall constitute one instrument. 
 SECTION 4.12. Expenses. Except as
otherwise specified in this Agreement, all costs and expenses, including fees and disbursements of counsel, financial advisors and accountants, incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the
Company. 
 SECTION 4.13. Further Assurances. Each party agrees that he, she or it shall, from time to time after the date of this
Agreement, execute and deliver such other documents and instruments and take such other actions as may be reasonably requested by any other party to carry out the transactions contemplated by this Agreement. 

SECTION 4.13. Specific Performance. Without limiting or waiving in any respect any rights or remedies of the parties hereto under this
Agreement now or hereinafter existing at law or in equity or by statute, each of the parties hereto will be entitled to seek specific performance of the obligations to be performed by the other in accordance with the provisions of this Agreement.

 SECTION 4.14. Complete Agreement. This Agreement constitutes the complete agreement of the parties with respect to the subject
matter hereof and supersede all prior discussions, negotiations and understandings. 
 [SIGNATURE PAGES FOLLOW] 

  
 7 

 IN WITNESS WHEREOF, the Company, Sponsor and the Reed Entities have executed this Agreement
as of the day and year first above written. 
  

			
	 ARHAUS, INC.

		
	 By:
	 	 
		 	 Name:

		 	 Title:

  

			
	 FS EQUITY PARTNERS VI, L.P.

	
	 By: FS Capital Partners VI, LLC, its general partner

		
	 By:
	 	 
		 	 Name:

		 	 Title:

  

			
	 FS AFFILIATES VI, L.P.

	
	 By: FS Capital Partners VI, LLC, its general partner

		
	 By:
	 	 
		 	 Name:

		 	 Title:

  

			
		
		 	 
		 	 JOHN P. REED

		 	
		 	

  

			
	 2018 REED DYNASTY TRUST U/A/D DECEMBER 24, 2018

		
	 By:
	 	 
		 	 Name:William T. Beargie

		 	 Title:   Trustee

		 	

  

			
		
	 By:
	 	 
		 	 Name:Albert T. Adams

		 	 Title:  Trustee

  

			
	 JOHN P. REED TRUST, U/A/D APRIL 29, 1985

		
	 By:
	 	 
		 	 Name:John Reed

		 	 Title:  Trustee

		 	

  

			
	 REED 2013 GENERATION-SKIPPING TRUST U/A/D OCTOBER 22, 2013

		
	 By:
	 	 
		 	 Name:William T. Beargie

		 	 Title:   Trustee

  
 [Signature Page to
Investor Rights Agreement] 

 
			
		
	By:	 	 
		 	Name: Albert T. Adams
		 	Title:   Trustee
	
	THE JOHN P. REED 2019 GRAT U/A/D DECEMBER 31, 2019
		
	By:	 	 
		 	Name: John Reed
		 	Title:   Trustee

  
 9

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