Document:

Exhibit 10.15

 

INVESTORS’
RIGHTS AGREEMENT

 

THIS INVESTORS’
RIGHTS AGREEMENT (this “Agreement”) is entered into as of the [__] day of [____], 2020, by and among
Clever Leaves Holdings Inc., a corporation organized under the laws of British Columbia, Canada (the “Company”),
and the undersigned parties listed under Investors on the signature page hereto (each, an “Investor”
and collectively, the “Investors”).

 

WHEREAS, the Company
is party to that certain Business Combination Agreement, dated as of July 25, 2020 (as amended, amended and restated, supplemented
or otherwise modified from time to time, the “BCA”), by and among the Company, Schultze Special Purpose
Acquisition Corp., a Delaware corporation (“Schultze”), Novel Merger Sub Inc., a Delaware corporation
(“Merger Sub”), and Clever Leaves International Inc., a corporation organized under the laws of British
Columbia, Canada, pursuant to which, among other things, Merger Sub will merge with and into Schultze (with Schultze being the
surviving entity) in exchange for Schultze’s stockholders receiving Common Shares of the Company as provided by the BCA;
and

 

WHEREAS, in connection
with the transactions contemplated by the BCA, the Company has agreed to grant to the Investors certain rights with respect to
nomination of directors and the registration of the Registrable Securities (as defined below) on the terms and conditions set forth
herein.

 

NOW, THEREFORE, in
consideration of the mutual covenants and agreements set forth herein, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1. DEFINITIONS.
The following terms used herein have the following meanings:

 

		1.1.	“Affiliate” means, with
respect to any specified person, any person that, directly or indirectly, controls, is controlled by, or is under common control
with, such specified person, through one or more intermediaries or otherwise.

 

		1.2.	“Agreement” means this Agreement,
as amended, restated, supplemented, or otherwise modified from time to time.

 

		1.3.	“Assignment Agreement” means
that certain Assignment, Assumption and Amendment Agreement dated as of [__], 2020, by and among the Company, Schultze and Continent
Stock Transfer & Trust Company.

 

		1.4.	“BCA” is defined in the recitals
to this Agreement.

 

		1.5.	“Beneficially Own” or “Beneficially
Owned” has the meaning ascribed to it in Section 13(d) of the Exchange Act.

 

		1.6.	“Board of Directors” means the
board of directors of the Company.

 

		1.7.	“Commission” means the Securities
and Exchange Commission, or any other Federal agency then administering the Securities Act or the Exchange Act.

 

		1.8.	“Common Shares” means the Common
Shares of the Company.

 

     

     

    

 

		1.9.	“Company” is defined in the preamble
to this Agreement.

 

		1.10.	“Demand Registration” is defined
in Section 2.1.1.

 

		1.11.	“Demanding Holder” is defined
in Section 2.1.1.

 

		1.12.	“Earn-Out Shares” means the Common
Shares issuable pursuant to the Transaction Support Agreement.

 

		1.13.	“Earn-Out Target Conditions”
means the First Level Earn-Out Target and the Second Level Earn-Out Target (each as defined in Exhibit A to the Transaction Support
Agreement).

 

		1.14.	“Exchange Act” means the Securities
Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder, all as the same shall
be in effect at the time.

 

		1.15.	“Form S-3” is defined in Section
2.2.4.

 

		1.16.	“Indemnified Party” is defined
in Section 4.3.

 

		1.17.	“Indemnifying Party” is defined
in Section 4.3.

 

		1.18.	“Independent Director” shall
mean a director who complies with the independence requirements for directors with respect to the Company (without reference to
any applicable exemptions from such requirements, and without reference to any heightened requirements for service on the audit
committee of the Board of Directors) for companies listed on Nasdaq.

 

		1.19.	“Initiating Holders” is defined
in Section 2.1.1.

 

		1.20.	“Investor” is defined in the
preamble to this Agreement.

 

		1.21.	“Investor Indemnified Party”
is defined in Section 4.1.

 

		1.22.	“Maximum Number of Shares” is
defined in Section 2.1.4.

 

		1.23.	“Merger Sub” is defined in the
recitals to this Agreement.

 

		1.24.	“Minimum Holding Condition” is
defined in Section 6.1.1.

 

		1.25.	“Misstatement” is defined in
Section 3.1.4.

 

		1.26.	“Notices” is defined in Section
7.2.

 

		1.27.	“Permitted Transferees” means
(i) with respect to any Investor, its (a) officers, directors, members, consultants or Affiliates, (b) relatives and trusts for
estate planning purposes, (c) descendants upon death or (d) pursuant to a qualified domestic relations order; (ii) the Company;
and (iii) any other Investor.

 

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		1.28.	“person” means an individual,
corporation, partnership, limited partnership, limited liability company, syndicate, person (including a “person”
as defined in Section 13(d)(3) of the Exchange Act), trust, association or entity or government, political subdivision, agency
or instrumentality of a government.

 

		1.29.	“Piggy-Back Registration” is
defined in Section 2.2.1.

 

		1.30.	“Pro Rata” is defined in Section
2.1.4.

 

		1.31.	“Register,” “Registered”
and “Registration” mean a registration effected by preparing and filing a registration statement or
similar document in compliance with the requirements of the Securities Act, and the applicable rules and regulations promulgated
thereunder, and such registration statement becoming effective.

 

		1.32.	“Registrable Securities” means
(i) any Common Shares issued to an Investor pursuant to the terms of the BCA, (ii) any Common Shares issuable upon the exercise
of the Warrants, and (iii) any Common Shares issued as (or issuable upon the conversion or exercise of any warrant, right, or
other security that is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of, the
Common Shares referenced in clauses (i) and (ii) above. As to any particular Registrable Securities, such securities shall cease
to be Registrable Securities when: (a) a Registration Statement with respect to the sale of such securities shall have become
effective under the Securities Act and such securities shall have been sold, transferred, disposed of or exchanged in accordance
with such Registration Statement; (b) such securities shall have been otherwise transferred, new certificates for them not bearing
a legend restricting further transfer shall have been delivered by the Company and subsequent public distribution of them shall
not require registration under the Securities Act; (c) such securities shall have ceased to be outstanding; or (d) the Registrable
Securities are freely saleable under Rule 144 under the Securities Act without volume limitations.

 

		1.33.	“Registration Statement” means
a registration statement filed by the Company with the Commission in compliance with the Securities Act and the rules and regulations
promulgated thereunder for a public offering and sale of equity securities, or securities or other obligations exercisable or
exchangeable for, or convertible into, equity securities (other than a registration statement on Form S-4 or Form S-8, or their
successors, or any registration statement covering only securities proposed to be issued in exchange for securities or assets
of another entity).

 

		1.34.	“Schultze” is defined in the
recitals to this Agreement.

 

		1.35.	“Securities Act” means the Securities
Act of 1933, as amended, and the rules and regulations of the Commission promulgated thereunder, all as the same shall be in effect
at the time.

 

		1.36.	“SPAC Director” means an individual
elected to the Board of Directors that has been nominated by the Investors pursuant to this Agreement.

 

		1.37.	“SPAC Majority Holders” is defined
in Section 6.1.1.

 

		1.38.	“SPAC Shares” means Common Shares
held by the Investors.

 

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		1.39.	“Warrants” means the Private
Warrants and Public Warrants issued pursuant to the Existing Warrant Agreement (each as defined in the Assignment Agreement) and
assumed by the Company pursuant to the Assignment Agreement.

 

		1.40.	“Transaction Support Agreement”
means the Transaction Support Agreement dated as of July 25, 2020, as amended by Amendment No. 1 to Transaction Support Agreement
dated as of November 9, 2020, by and among the Company, Schultze and the other parties party thereto.

 

		1.41.	“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.

 

2. REGISTRATION
RIGHTS.

 

2.1. Demand
Registration.

 

2.1.1. Request for
Registration. At any time and from time to time on or after the expiration of the Lockup Period (as such term is defined in
the Transaction Support Agreement), Investors holding at least a majority in interest of the then-outstanding number of Registrable
Securities held by all Investors (such Investors, the “Initiating Holders”) may make a written demand
for registration under the Securities Act of all or part of their Registrable Securities (a “Demand Registration”).
Any demand for a Demand Registration shall specify the number of shares of Registrable Securities proposed to be sold and the intended
method(s) of distribution thereof. The Company will notify all holders of Registrable Securities of the demand, and each holder
of Registrable Securities who wishes to include all or a portion of such holder’s Registrable Securities in the Demand Registration
(each such holder including shares of Registrable Securities in such registration, a “Demanding Holder”)
shall so notify the Company, and provide the information request by the Company to prepare the Registration Statement, within five
(5) days after the receipt by the holder of the notice from the Company. Upon any such request and provision of such information,
the Demanding Holders shall be entitled to have their Registrable Securities included in the Demand Registration, subject to Section
2.1.4 and the provisos set forth in Section 3.1.1. The Company shall not be obligated to effect more than an aggregate
of two (2) Demand Registrations under this Section 2.1.1 in respect of all Demand Registrations initiated by the Investors.

 

2.1.2. Effective Registration.
A registration will not count as a Demand Registration until the Registration Statement filed with the Commission with respect
to such Demand Registration has been declared effective and the Company has complied with all of its obligations under this Agreement
with respect thereto; provided, however, that if, after such Registration Statement has been declared effective,
the offering of Registrable Securities pursuant to a Demand Registration is interfered with by any stop order or injunction of
the Commission or any other governmental agency or court, the Registration Statement with respect to such Demand Registration will
be deemed not to have been declared effective, unless and until, (i) such stop order or injunction is removed, rescinded or otherwise
terminated, and (ii) a majority in interest of the Demanding Holders thereafter elect to continue the offering; provided,
further, that the Company shall not be obligated to file a second Registration Statement until a Registration Statement
that has been filed is counted as a Demand Registration or is terminated. For the avoidance of doubt, any terminated Registration
Statement shall be counted as a Demand Registration provided for in Section 2.1.

 

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2.1.3. Underwritten
Offering. If a majority in interest of the Demanding Holders so elect and such holders so advise the Company as part of their
written demand for a Demand Registration, the offering of such Registrable Securities pursuant to such Demand Registration shall
be in the form of an underwritten offering. In such event, the right of any holder to include its Registrable Securities in such
registration shall be conditioned upon such holder’s participation in such underwriting and the inclusion of such holder’s
Registrable Securities in the underwriting to the extent provided herein. All Demanding Holders proposing to distribute their Registrable
Securities through such underwriting shall enter into an underwriting agreement in customary form with the Underwriter or Underwriters
selected for such underwriting by the Initiating Holders.

 

2.1.4. Reduction of
Offering. If the managing Underwriter or Underwriters for a Demand Registration that is to be an underwritten offering advises,
in its good faith opinion, the Company and the Demanding Holders that the dollar amount or number of shares of Registrable Securities
which the Demanding Holders desire to sell, taken together with all other shares of Common Shares or other securities which the
Company desires to sell and the shares of Common Shares, if any, as to which registration has been requested pursuant to written
contractual piggy-back registration rights held by other shareholders of the Company who desire to sell, exceeds the maximum dollar
amount or maximum number of shares that can be sold in such offering without adversely affecting the proposed offering price, the
timing, the distribution method, or the probability of success of such offering (such maximum dollar amount or maximum number of
shares, as applicable, the “Maximum Number of Shares”), then the Company shall include in such registration:
(i) first, the Registrable Securities as to which Demand Registration has been requested by the Initiating Holders (pro rata in
accordance with the number of shares that each such person has requested be included in such registration, regardless of the number
of shares held by each such person (such proportion is referred to herein as “Pro Rata”)) that can be
sold without exceeding the Maximum Number of Shares; (ii) second, to the extent that the Maximum Number of Shares has not been
reached under the foregoing clause (i), the shares of Common Shares or other securities that any other Demanding Holders desire
to sell that can be sold without exceeding the Maximum Number of Shares; (iii) third, to the extent that the Maximum Number of
Shares has not been reached under the foregoing clauses (i) and (ii), the shares of Common Shares or other securities that the
Company desires to sell that can be sold without exceeding the Maximum Number of Shares; and (iv) fourth, to the extent that the
Maximum Number of Shares have not been reached under the foregoing clauses (i), (ii) and (iii), the shares of Common Shares or
other securities for the account of other persons that the Company is obligated to register pursuant to written contractual arrangements
with such persons and that can be sold without exceeding the Maximum Number of Shares.

 

2.1.5. Demand Registration
Withdrawal. If a majority-in-interest of the Demanding Holders disapprove of the terms of any underwriting or are not entitled
to include all of their Registrable Securities in any offering, such majority-in-interest of the Demanding Holders may elect to
withdraw from such offering by giving written notice to the Company and the Underwriter or Underwriters of their request to withdraw
prior to the effectiveness of the Registration Statement filed with the Commission with respect to such Demand Registration. If
a majority-in-interest of the Demanding Holders withdraws from a proposed offering relating to a Demand Registration then such
registration shall count as a Demand Registration provided for in Section 2.1.

 

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2.2. Piggy-Back
Registration.

 

2.2.1. Piggy-Back
Rights. If at any time on or after the date the Company proposes to file a Registration Statement under the Securities Act
with respect to an offering of equity securities, or securities or other obligations exercisable or exchangeable for, or convertible
into, equity securities, by the Company for its own account or for shareholders of the Company for their account (or by the Company
and by shareholders of the Company including, without limitation, pursuant to Section 2.1), other than a Registration Statement
(i) filed in connection with any employee stock option or other benefit plan, (ii) for an exchange offer or offering of securities
solely to the Company’s existing shareholders, (iii) for an offering of debt that is convertible into equity securities of
the Company, (iv) for a dividend reinvestment plan or (v) for the registration of shares or equity securities underlying any Warrants,
then the Company shall (x) give written notice of such proposed filing to the holders of Registrable Securities as soon as practicable
but in no event less than ten (10) days before the anticipated filing date, which notice shall describe the amount and type of
securities to be included in such offering, the intended method(s) of distribution, and the name of the proposed managing Underwriter
or Underwriters, if any, of the offering, and (y) offer to the holders of Registrable Securities in such notice the opportunity
to register the sale of such number of shares of Registrable Securities as such holders may request in writing within five (5)
days following receipt of such notice, provided such holders also provide the information requested by the Company to prepare the
Registration Statement within five (5) days following receipt of such notice (a “Piggy-Back Registration”).
Subject to Section 2.2.2, the Company shall cause such Registrable Securities to be included in such registration and shall
use its commercially reasonable 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 on the same terms and conditions as any
similar securities of the Company and to permit the sale or other disposition of such Registrable Securities in accordance with
the intended method(s) of distribution thereof. All holders of Registrable Securities proposing to distribute their securities
through a Piggy-Back Registration that involves an Underwriter or Underwriters shall enter into an underwriting agreement in customary
form with the Underwriter or Underwriters selected for such Piggy-Back Registration.

 

2.2.2. Reduction of
Offering. If the managing Underwriter or Underwriters for a Piggy-Back Registration that is to be an underwritten offering
advises the Company and the holders of Registrable Securities that in its good faith opinion the dollar amount or number of shares
of Common Shares which the Company desires to sell, taken together with shares of Common Shares, if any, as to which registration
has been demanded pursuant to separate written contractual arrangements with persons or entities other than the holders of Registrable
Securities hereunder, the Registrable Securities as to which registration has been requested under this Section 2.2, and
the shares of Common Shares, if any, as to which registration has been requested pursuant to the written contractual piggy-back
registration rights of other shareholders of the Company, exceeds the Maximum Number of Shares, then the Company shall include
in any such registration:

 

(a) If the registration
is undertaken for the Company’s account: (A) the shares of Common Shares or other securities that the Company desires to
sell that can be sold without exceeding the Maximum Number of Shares; (B) to the extent that the Maximum Number of Shares has not
been reached under the foregoing clause (A), the shares of Common Shares or other securities, if any, comprised of Registrable
Securities, Pro Rata, as to which registration has been requested pursuant to the terms hereof, that can be sold without exceeding
the Maximum Number of Shares; and (C) to the extent that the Maximum Number of Shares has not been reached under the foregoing
clauses (A) and (B), the shares of Common Shares or other securities for the account of other persons that the Company is obligated
to register pursuant to written contractual piggy-back registration rights with such persons and that can be sold without exceeding
the Maximum Number of Shares; and

 

(b) If the registration
is a “demand” registration undertaken at the demand of persons other than the holders of Registrable Securities, (A)
first, the shares of Common Shares or other securities for the account of the demanding persons that can be sold without exceeding
the Maximum Number of Shares; (B) second, to the extent that the Maximum Number of Shares has not been reached under the foregoing
clause (A), the shares of Common Shares or other securities that the Company desires to sell that can be sold without exceeding
the Maximum Number of Shares; (C) third, to the extent that the Maximum Number of Shares has not been reached under the foregoing
clauses (A) and (B), collectively the shares of Common Shares or other securities comprised of Registrable Securities, Pro Rata,
as to which registration has been requested pursuant to the terms hereof that can be sold without exceeding the Maximum Number
of Shares; and (D) fourth, to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (A),
(B) and (C), the shares of Common Shares or other securities for the account of other persons that the Company is obligated to
register pursuant to written contractual arrangements with such persons, that can be sold without exceeding the Maximum Number
of Shares.

 

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2.2.3. Piggyback Registration
Withdrawal. Any holder of Registrable Securities may elect to withdraw such holder’s request for inclusion of Registrable
Securities in any Piggy-Back Registration by giving written notice to the Company of such request to withdraw prior to the effectiveness
of the Registration Statement. The Company (whether on its own determination or as the result of a withdrawal by persons making
a demand pursuant to written contractual obligations) may withdraw a Registration Statement at any time prior to the effectiveness
of such Registration Statement.

 

2.2.4. Registrations
on Form S-3. The holders of Registrable Securities may at any time and from time to time request in writing that the Company
register the resale of any or all of such Registrable Securities on Form S-3 or any similar short-form registration which may be
available at such time (“Form S-3”) so long as such request covers at least $25 million worth of the
market value of Common Shares; provided, however, that the Company shall not be obligated to effect such request
through an underwritten offering. Upon receipt of such written request, the Company will give written notice of the proposed registration
to all other holders of Registrable Securities, and each holder of Registrable Securities who wishes to include all or a portion
of such holder’s Registrable Securities in such registration on such Form S-3 shall so notify the Company, and provide the
information request by the Company to prepare the Registration Statement, within five (5) days after the receipt by the holder
of the notice from the Company. As soon as practicable thereafter, the Company shall effect the registration of all or such portion
of such holder’s or holders’ Registrable Securities as are specified in such request, together with all or such portion
of the Registrable Securities or other securities of the Company, if any; provided, however, that the Company shall
not be obligated to effect any such registration pursuant to this Section 2.2.4: (i) if Form S-3 is not available for such
offering; or (ii) if the holders of the Registrable Securities, together with the holders of any other securities of the Company
entitled to inclusion in such registration, propose to sell Registrable Securities and such other securities (if any) at any aggregate
price to the public of less than $25 million. Registrations effected pursuant to this Section 2.2.4 shall not be counted
as Demand Registrations effected pursuant to Section 2.1.

 

3. REGISTRATION
PROCEDURES.

 

3.1. Filings; Information.
Whenever the Company is required to effect the registration of any Registrable Securities pursuant to Section 2, the Company
shall use its commercially reasonable efforts to effect the registration and sale of such Registrable Securities in accordance
with the intended method(s) of distribution thereof as expeditiously as reasonably possible, and in connection with any such request:

 

3.1.1. Filing Registration
Statement. The Company shall use commercially reasonable efforts after receipt of a request for a Demand Registration pursuant
to Section 2.1, prepare and file with the Commission a Registration Statement on any form for which the Company then qualifies
or which counsel for the Company shall deem appropriate and which form shall be available for the sale of all Registrable Securities
to be registered thereunder in accordance with the intended method(s) of distribution thereof, and shall use its commercially reasonably
efforts to cause such Registration Statement to become effective and, upon request of the holders of a majority of the Registrable
Securities registered thereunder, keep such registration statement effective for the period required by Section 3.1.3; provided,
however, that the Company shall have the right to defer any Demand Registration for up to sixty (60) days, and any Piggy-Back
Registration for such period as may be applicable to deferment of any demand registration to which such Piggy-Back Registration
relates, in each case if the Company shall furnish to the holders a certificate signed by the President or Chief Executive Officer
of the Company stating that, in the good faith judgment of the Board of Directors, it would be materially detrimental to the Company
and its shareholders for such Registration Statement to be effected at such time; provided further, however, that the Company
shall not have the right to exercise the right set forth in the immediately preceding proviso more than twice in any 365-day period
in respect of a Demand Registration hereunder.

 

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3.1.2. Copies.
The Company shall, prior to filing a Registration Statement or prospectus, or any amendment or supplement thereto, furnish without
charge to the holders of Registrable Securities included in such registration, and such holders’ legal counsel, copies of
such Registration Statement as proposed to be filed, each amendment and supplement to such Registration Statement (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 the holders of Registrable Securities included in such registration
or legal counsel for any such holders may reasonably request in order to facilitate the disposition of the Registrable Securities
owned by such holders.

 

3.1.3. Amendments
and Supplements. Except as otherwise set forth herein, the Company shall prepare and file with the Commission such amendments,
including post-effective amendments, and supplements to such Registration Statement and the prospectus used in connection therewith
as may be necessary to keep such Registration Statement effective and in compliance with the provisions of the Securities Act in
order to enable the disposition of all Registrable Securities and other securities covered by such Registration Statement.

 

3.1.4. Notification.
After the filing of a Registration Statement, the Company shall promptly after such filing, notify the holders of Registrable Securities
included in such Registration Statement of such filing, and shall further notify such holders promptly and confirm such advice
in writing in all events within five (5) business days of the occurrence of any of the following: (i) when such Registration Statement
becomes effective; (ii) when any post-effective amendment to such Registration Statement becomes effective; (iii) the issuance
or threatened issuance by the Commission of any stop order; and (iv) any request by the Commission for any amendment or supplement
to such Registration Statement or any prospectus relating thereto or for additional information or of the occurrence of an event
requiring the preparation of a supplement or amendment to such prospectus so that, as thereafter delivered to the purchasers of
the securities covered by such Registration Statement, such prospectus 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 (a
“Misstatement”), and promptly make available to the holders of Registrable Securities included in such
Registration Statement any such supplement or amendment; except that before filing with the Commission a Registration Statement
or prospectus or any amendment or supplement thereto, including documents incorporated by reference, the Company shall furnish
to the holders of Registrable Securities included in such Registration Statement and to the legal counsel for any such holders,
copies of all such documents proposed to be filed sufficiently in advance of filing to provide such holders and legal counsel with
a reasonable opportunity to review such documents and comment thereon.

 

3.1.5. State Securities
Laws Compliance. The Company shall use its commercially reasonable efforts to (i) register or qualify the Registrable Securities
covered by the Registration Statement under such securities or “blue sky” laws of such jurisdictions in the United
States as the holders of Registrable Securities included in such Registration Statement (in light of their intended plan of distribution)
may reasonably request and (ii) take such action necessary to cause such Registrable Securities covered by the Registration Statement
to be registered with or approved by such other governmental authorities 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 the holders of
Registrable Securities included in such Registration Statement to consummate the disposition of such Registrable Securities in
such jurisdictions; provided, however, that the Company shall not be required to qualify generally to do business
or to file a general consent to service of process in any jurisdiction, unless the Company is already subject to service in such
jurisdiction and except as may be required by the Securities Act.

 

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3.1.6. Agreements
for Disposition. The Company shall enter into customary agreements (including, if applicable in an underwritten offering, an
underwriting agreement in customary form) and take such other actions as are reasonably required in order to expedite or facilitate
the disposition of such Registrable Securities. No holder of Registrable Securities included in such Registration Statement shall
be required to make any representations or warranties in the underwriting agreement except, if applicable, with respect to such
holder’s organization, good standing, authority, title to Registrable Securities, lack of conflict of such sale with such
holder’s material agreements and organizational documents, and with respect to written information relating to such holder
that such holder has furnished in writing expressly for inclusion in such Registration Statement.

 

3.1.7. Cooperation.
The chief executive officer, the chief financial officer, the principal accounting officer of the Company and all other officers
and members of the management of the Company shall cooperate fully in any offering of Registrable Securities hereunder, which cooperation
shall include, without limitation, the preparation of the Registration Statement with respect to such offering and all other offering
materials and related documents, and participation in meetings with Underwriters, attorneys, accountants and potential investors
in an underwritten offering.

 

3.1.8. Records.
The Company shall make available for inspection by any seller of Registrable Securities included in the Registration Statement,
any Underwriter participating in any disposition pursuant to such Registration Statement and any attorney, accountant or other
professional retained by any such seller of Registrable Securities or any Underwriter, all financial and other records, pertinent
corporate documents and properties of the Company, as shall be necessary to enable them to exercise their due diligence responsibility,
and cause the Company’s officers, directors and employees to supply all information reasonably requested by any of them in
connection with such Registration Statement.

 

3.1.9. Opinions and
Comfort Letters. The Company shall obtain an opinion or comfort letter from the Company’s legal counsel and independent
public accountants delivered to any Underwriter in the event of an underwritten offering, in customary form and covering such matters
of the type customarily covered by any opinions or comfort letters as the managing Underwriter may reasonably request, and reasonably
satisfactory to a majority in interest of the participating holders.

 

3.1.10. Earnings Statement.
The Company shall comply with all applicable rules and regulations of the Commission and the Securities Act, and make available
to its shareholders, as soon as reasonably practicable, an earnings statement covering a period of twelve (12) months, which earnings
statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder.

 

3.1.11. Listing.
The Company shall use its commercially reasonable efforts to cause all Registrable Securities included in any registration to be
listed on such exchanges or otherwise designated for trading in the same manner as similar securities issued by the Company are
then listed or designated.

 

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3.1.12. Road Show.
If the registration involves the registration of Registrable Securities involving gross proceeds in excess of $25,000,000, the
Company shall use its reasonable efforts to make available senior executives of the Company to participate in customary “road
show” presentations that may be reasonably requested by the Underwriter in any underwritten offering.

 

3.1.13. Other.
The Company shall otherwise, in good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested
by the Investors, in connection with any Registration.

 

3.2. Obligation
to Suspend Distribution. Upon receipt of any notice from the Company of the happening of any event of the kind described in
Section 3.1.4(iv) or that a Registration Statement contains a Misstatement, each holder of Registrable Securities included
in any Registration shall immediately discontinue disposition of such Registrable Securities pursuant to the Registration Statement
covering such Registrable Securities until such holder receives the supplemented or amended prospectus contemplated by Section
3.1.4(iv) or is advised in writing by the Company that the use of the prospectus contained in such Registration Statement may
be resumed, and, if so directed by the Company, each such holder will deliver to the Company all written copies, other than permanent
file copies then in such holder’s possession, of the most recent prospectus covering such Registrable Securities at the time
of receipt of such notice. The Company shall immediately notify the holders of Registrable Securities of the expiration of any
period during which it exercised its rights under this Section 3.2.

 

3.3. Registration
Expenses. The Company shall bear all costs and expenses incurred in connection with any Demand Registration pursuant to Section
2.1, any Piggy-Back Registration pursuant to Section 2.2, and any registration on Form S-3 effected pursuant to Section
2.2.4, and all of the following expenses incurred in performing or complying with its other obligations under this Agreement:
(i) all registration and filing fees; (ii) fees and expenses of compliance with securities or “blue sky” laws (including
reasonable fees and disbursements of counsel in connection with blue sky qualifications of the Registrable Securities); (iii) printing
expenses; (iv) the Company’s internal expenses (including, without limitation, all salaries and expenses of its officers
and employees); (v) the fees and expenses incurred in connection with the listing of the Registrable Securities as required by
Section 3.1.11; (vi) Financial Industry Regulatory Authority fees; (vii) fees and disbursements of counsel for the Company
and reasonable fees and expenses for independent certified public accountants retained by the Company (including the expenses or
costs associated with the delivery of any opinions or comfort letters requested pursuant to Section 3.1.9); (viii) the reasonable
fees and expenses of any special experts retained by the Company in connection with such registration and (ix) the reasonable and
documented fees and expenses, not to exceed $75,000 in connection with any Registration Statement, of one legal counsel selected
by the holders of a majority in interest of the Registrable Securities included in such registration. The Company shall have no
obligation to pay any underwriting discounts or selling commissions attributable to the Registrable Securities being sold by the
holders thereof, which underwriting discounts or selling commissions shall be borne by such holders. Additionally, in an underwritten
offering, all selling shareholders and the Company shall bear the expenses of the Underwriter Pro Rata in proportion to the respective
amount of shares each is selling in such offering.

 

3.4. Information.
The holders of Registrable Securities shall provide such information as may reasonably be requested by the Company, or the managing
Underwriter, if any, in connection with the preparation of any Registration Statement, including amendments and supplements thereto,
in order to effect the registration of any Registrable Securities under the Securities Act pursuant to Section 2 and in
connection with the Company’s obligation to comply with federal, provincial and applicable state securities laws.

 

    10

     

    

 

4. INDEMNIFICATION
AND CONTRIBUTION.

 

4.1. Indemnification
by the Company. The Company agrees to indemnify and hold harmless, to the extent permitted by law, each Investor whose Registrable
Securities are covered by a Registration Statement, such Investor’s officers, directors and each Person, if any, who controls
such Investor (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) (each, an “Investor
Indemnified Party”), from and against any out-of-pocket expenses, losses, judgments, claims, damages or liabilities
(collectively, “Losses”), caused by any Misstatement or alleged Misstatement contained in any Registration
Statement, any preliminary prospectus, final prospectus or summary prospectus contained in the Registration Statement, or any amendment
or supplement to such Registration Statement, or any violation by the Company of the Securities Act or any rule or regulation promulgated
thereunder applicable to the Company and relating to action or inaction required of the Company in connection with any such registration;
and the Company shall promptly reimburse the Investor Indemnified Party for any legal and any other expenses reasonably incurred
by such Investor Indemnified Party in connection with investigating and defending any such Loses; provided, however,
that the Company shall not be liable in any such case to the extent that any such Losses arises out of or is based upon any Misstatement
made in such Registration Statement, preliminary prospectus, final prospectus, or summary prospectus, or any such amendment or
supplement, in reliance upon and in conformity with information furnished to the Company, in writing, by such selling holder expressly
for use therein. In connection with an underwritten offering, the Company also shall indemnify any Underwriter of the Registrable
Securities, their officers, directors, and each person who controls such Underwriter to the same extent as provided above with
respect to the indemnification of the Investor Indemnified Parties. It is agreed that the indemnity agreement contained in this
Section 4.1 shall not apply to amounts paid in settlement of any such Losses (or actions in respect thereof) if such settlement
is effected without the consent of the Company (which consent shall not be unreasonably withheld).

 

4.2. Indemnification
by Holders of Registrable Securities. Subject to the limitations set forth in Section 4.4.3 hereof, each selling holder
of Registrable Securities will, in the event that any registration is being effected under the Securities Act pursuant to this
Agreement of any Registrable Securities held by such selling holder, indemnify and hold harmless the Company, each of its directors
and officers and each Underwriter (if any), and each other selling holder and each other person, if any, who controls another selling
holder or such Underwriter within the meaning of the Securities Act, against any Losses, insofar as such Losses arise out of or
are based upon any Misstatement or alleged Misstatement contained in any Registration Statement under which the sale of such Registrable
Securities was registered under the Securities Act, any preliminary prospectus, final prospectus or summary prospectus contained
in the Registration Statement, or any amendment or supplement to the Registration Statement, or arise out of or are based upon
any omission or the alleged omission to state a material fact required to be stated therein or necessary to make the statement
therein not misleading, if the statement or omission was made in reliance upon and in conformity with information furnished in
writing to the Company by such selling holder expressly for use therein, and shall reimburse the Company, its directors and officers,
and each other selling holder or controlling person for any legal or other expenses reasonably incurred by any of them in connection
with investigation or defending any such Loss. Each selling holder’s indemnification obligations hereunder shall be several
and not joint and shall be limited to the amount of any net proceeds actually received by such selling holder.

 

    11

     

    

 

4.3. Conduct of
Indemnification Proceedings. Promptly after receipt by any person of any notice of any Loss in respect of which indemnity may
be sought pursuant to Section 4.1 or 4.2, such person (the “Indemnified Party”) shall,
if a claim in respect thereof is to be made against any other person for indemnification hereunder, notify such other person (the
“Indemnifying Party”) in writing of the Loss; provided, however, that the failure by the
Indemnified Party to notify the Indemnifying Party shall not relieve the Indemnifying Party from any liability which the Indemnifying
Party may have to such Indemnified Party hereunder, except and solely to the extent the Indemnifying Party is actually prejudiced
by such failure. If the Indemnified Party is seeking indemnification with respect to any claim or action brought against the Indemnified
Party, then the Indemnifying Party shall be entitled to participate in such claim or action, and, to the extent that it wishes,
jointly with all other Indemnifying Parties, to assume control of 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 control of 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 other than reasonable costs of investigation; provided,
however, that in any action in which both the Indemnified Party and the Indemnifying Party are named as defendants, the
Indemnified Party shall have the right to employ separate counsel (but no more than one such 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, with the fees and expenses of such counsel to be paid by
such Indemnifying Party if, based upon the written advice of counsel of such Indemnified Party, representation of both parties
by the same counsel would be inappropriate due to actual or potential differing interests between them. No Indemnifying Party shall,
without the prior written consent of the Indemnified Party, consent to entry of judgment or effect any settlement of any claim
or pending or threatened proceeding in respect of any Losses for which the Indemnified Party seeks indemnification hereunder if
such settlement or judgment includes any non-monetary remedies, requires an admission of fault or culpability on the part of the
Indemnified Party or does not include an unconditional release from all liability of the Indemnified Party in respect of such Losses.

 

4.4. Contribution.

 

4.4.1. If the indemnification
provided for in the foregoing Sections 4.1, 4.2 and 4.3 is unavailable to any Indemnified Party in respect
of any Loss 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 Loss in such proportion as is appropriate to reflect
the relative fault of the Indemnified Parties and the Indemnifying Parties in connection with the actions or omissions which resulted
in such Loss. The relative fault of any Indemnified Party and any Indemnifying Party shall be determined by reference to, among
other things, whether the Misstatement relates to information supplied by such Indemnified Party or such Indemnifying Party and
the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such Misstatement.

 

4.4.2. The parties hereto
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 Section 4.4.1.

 

4.4.3. The amount paid
or payable by an Indemnified Party as a result of any Loss referred to in the immediately preceding paragraph shall be deemed to
include, subject to the limitations set forth above, any legal or other expenses 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 holder
of Registrable Securities shall be required to contribute any amount in excess of the dollar amount of the net proceeds (after
payment of any underwriting fees, discounts, commissions or taxes) actually received by such holder from the sale of Registrable
Securities which gave rise to such contribution obligation. No person guilty of fraudulent misrepresentation (within the meaning
of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent
misrepresentation.

 

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5. RULE
144 INFORMATION.

 

5.1. Rule 144.
The Company covenants that it shall file any reports required to be filed by it under the Securities Act and the Exchange Act and
shall take such further action as the holders of Registrable Securities may reasonably request, all to the extent required from
time to time to enable such holders to sell Registrable Securities without registration under the Securities Act within the limitation
of the exemptions provided by Rule 144 under the Securities Act, as such Rules may be amended from time to time, or any similar
rule or regulation hereafter adopted by the Commission.

 

6. BOARD
OF DIRECTORS.

 

6.1. Director Nomination
Rights.

 

6.1.1. For so long as
the Minimum Holding Condition is satisfied, the Investors holding a majority in interest of the SPAC Shares then outstanding (the
“SPAC Majority Holders”) shall have the right to nominate, collectively, one person (the “Nominee”)
to the Board of Directors for election to the Board of Directors by giving written notice to the Company not later than twenty
(20) days after receiving notice of the date of the applicable meeting of shareholders provided to the Investors, provided
that the Nominee has: (a) provided the Company with the Nominee’s written consent to a customary background check, which
consent shall be provided promptly after the Nominee is proposed; (b) completed a reasonably satisfactory interview with the Nominating
and Governance Committee (or similarly designated committee), which shall be completed as promptly as practicable following receipt
of a completed director questionnaire; (c) provided the Company with a completed director questionnaire (in the form to be provided
by the Company within three (3) business days of being identified) and such other information required as may be reasonably requested
by the Board of Directors; (d) agreed to take all necessary action not be considered to be “overboarded” under the
applicable policies of Institutional Shareholder Services, Inc. (“ISS”) and Glass Lewis & Co., LLC
(“Glass Lewis”) as a result of his or her appointment to the Board of Directors; and (e) qualifies as
an Independent Director. In the event the Nominating and Governance Committee declines to approve a Nominee, the SPAC Majority
Holders may propose a new Nominee, subject to the approval process described above, until a Nominee is approved in accordance with
this Section 6.1.1. For purposes of this Agreement, the “Minimum Holding Condition” shall be deemed
to be satisfied until the first such time that Investors (together with their respective Affiliates) cease to Beneficially Own
collectively a number of Common Shares equal to or greater than: (i) 50% of the total number of Common Shares held by the Investors
on the date hereof (as the same may be adjusted by share splits, reverse splits, share dividends, recapitalizations or other similar
events) and (ii) 2.0% of the then-issued and outstanding Common Shares, as determined on a fully diluted basis, including the Earn-Out
Shares for so long as the Earn-Out Target Conditions pertaining to such Earn-Out Shares remain capable of being satisfied; provided
that if the Investors do not satisfy clause (ii) of the Minimum Holding Condition at closing of the transactions contemplated by
the BCA, the Minimum Holding Condition shall nevertheless be deemed to be satisfied until such time that the Investors (or any
of their respective Affiliates) sell, transfer or otherwise divest any Common Shares, in which case the Minimum Holding Condition
shall immediately cease to be satisfied.

 

6.1.2. Following approval
of a Nominee by the Board of Directors, the Company shall take all actions necessary to ensure that: (i) the applicable Nominee
is included in the Board of Director’s slate of nominees to the shareholders of the Company for each election of directors
and recommended by the Board of Directors at any meeting of shareholders called for the purpose of electing directors; (ii) the
Nominee up for election is included in the proxy statement prepared by management of the Company in connection with the Company’s
soliciting proxies or consents in favor of the foregoing for every meeting of the shareholders of the Company called with respect
to the election of members of the Board of Directors, and at every adjournment or postponement thereof, and on every action or
approval by written resolution of the shareholders of the Company or the Board of Directors with respect to the election of members
of the Board of Directors; and (iii) such Nominee receives the same level of support as is provided for the other director nominees
of the Company with respect to the applicable meeting of stockholders or consent solicitation. In addition, each Investor agrees
with the Company that such Investor shall vote in favor of each person to be appointed or nominated, as the case may be, for election
to the Board of Directors and who has been recommended by the Board of Directors for such appointment or nomination at every meeting
of the shareholders of the Company called with respect to the election of members of the Board of Directors, and at every adjournment
or postponement thereof, and on every action or approval by written resolution of the shareholders of the Company or the Board
of Directors with respect to the election of members of the Board of Directors.

 

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6.1.3. If a vacancy occurs
because of the death, disability, disqualification, resignation or removal of a SPAC Director or for any other reason, and at such
time, the Minimum Holding Condition is satisfied then SPAC Majority Holders shall be entitled to designate such person’s
successor, and the Company shall, within ten (10) days of such designation, take all necessary actions within its control such
that such vacancy shall be filled with such successor Nominee, it being understood that any such successor designee shall serve
the remainder of the term of the director whom such designee replaces.

 

6.1.4. If at any time,
the Minimum Holding Condition cease to be satisfied, then within ten (10) days of such occurring, the SPAC Director shall tender
his or her resignation to the Board of Directors for the Board of Director’s consideration. The Investors’ board designation
right pursuant to this Section 6 shall terminate and be of no further force and effect upon the first time the Investors
cease to satisfy the Minimum Holding Condition and shall not be reinstated under any circumstances.

 

6.2. Director Consent
Rights. If (i) at the time of the closing of the transactions contemplated by the BCA, the Board of Directors is composed of
five (5) or fewer directors, (ii) the Company proposes for the number of directors comprising the Board of Directors to be greater
than five (5) directors and (iii) at the time the Company makes such proposal, the Minimum Holding Condition is satisfied, then
prior to the nomination (or, if there is no nomination, the appointment) of a sixth individual to the Board of Directors (an “Additional
Director”), the SPAC Majority Holders shall have the right to consent (such consent not to be unreasonably withheld,
conditioned or delayed) to the nomination (or, if there is no nomination, the appointment) of the Additional Director; provided,
however, that such right to consent with respect to such Additional Director shall expire upon an Additional Director becoming
a member of the Board of Directors in accordance with the requirements of this sentence. For the avoidance of doubt, if the SPAC
Majority Holders do not provide consent to the nomination of an Additional Director in accordance with this Section 6.2
(and the refusal to provide consent was reasonable), the Company may propose a new Additional Director, and such nomination (or,
if there is no nomination, the appointment) of such Additional Director shall be subject to the approval process described above,
until the SPAC Majority Holders shall have consented to the nomination (or, if there is no nomination, the appointment) and such
Additional Director shall have begun service as a member of the Board of Directors.

 

7. MISCELLANEOUS.

 

7.1. Assignment;
No Third Party Beneficiaries. This Agreement and the rights, duties and obligations of the Company hereunder may not be assigned
or delegated by the Company in whole or in part. This Agreement and the rights, duties and obligations of the holders of Registrable
Securities hereunder may only be transferred or assigned to Permitted Transferees of a holder of Registrable Securities. This Agreement
and the provisions hereof shall be binding upon and shall inure to the benefit of each of the parties and the Permitted Transferees
of the applicable holder of Registrable Securities or of any assignee of the Investors or holder of Registrable Securities. This
Agreement is not intended to confer any rights or benefits on any persons that are not party hereto other than as expressly set
forth in Section 4 and this Section 7.1.

 

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7.2. Notices.
All notices, demands, requests, consents, approvals or other communications (collectively, “Notices”)
required or permitted to be given hereunder or which are given with respect to this Agreement shall be in writing and shall be
personally served, delivered by reputable air courier service with charges prepaid, or transmitted by hand delivery, telegram,
telex or facsimile, addressed as set forth below, or to such other address as such party shall have specified most recently by
written notice. Notice shall be deemed given on the date of service or transmission if personally served or transmitted by telegram,
telex or facsimile; provided, that if such service or transmission is not on a business day or is after normal business hours,
then such notice shall be deemed given on the next business day. Notice otherwise sent as provided herein shall be deemed given
on the next business day following timely delivery of such notice to a reputable air courier service with an order for next-day
delivery.

 

To the Company:

 

Clever Leaves Holdings Inc.

489 Fifth Ave, 27th Floor

New York, NY 10017

Attn: Kyle Detwiler, Chief Executive Officer

David Kastin, General Counsel

Email: kyle.detwiler@cleverleaves.com

   david.kastin@cleverleaves.com

 

with a copy to:

 

Freshfields Bruckhaus Deringer US LLP

601 Lexington Avenue, 31st Floor

New York, NY 10022

Attn: Sebastian L. Fain, Esq.

Pamela L. Marcogliese, Esq.

Email: sebastian.fain@freshfields.com

pamela.marcogliese@freshfields.com

 

To an Investor, to the address set forth below such
Investor’s name on Exhibit A.

 

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

 

7.4. Counterparts.
This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, and all of which taken together
shall constitute one and the same instrument. Delivery of a signed counterpart of this Agreement by facsimile or email/pdf transmission
shall constitute valid and sufficient delivery thereof.

 

7.5. Entire Agreement.
This Agreement (including all agreements entered into pursuant hereto and all certificates and instruments delivered pursuant hereto
and thereto) constitute the entire agreement of the parties with respect to the subject matter hereof and supersede all prior and
contemporaneous agreements, representations, understandings, negotiations and discussions between the parties, whether oral or
written.

 

    15

     

    

 

7.6. Modifications
and Amendments. No amendment, modification or termination of this Agreement shall be binding upon any party unless executed
in writing by such party.

 

7.7. Titles and
Headings. Titles and headings of sections of this Agreement are for convenience only and shall not affect the construction
of any provision of this Agreement.

 

7.8. Waivers and
Extensions. Any party to this Agreement may waive any right, breach or default which such party has the right to waive, provided
that such waiver will not be effective against the waiving party unless it is in writing, is signed by such party, and specifically
refers to this Agreement. Waivers may be made in advance or after the right waived has arisen or the breach or default waived has
occurred. Any waiver may be conditional. No waiver of any breach of any agreement or provision herein contained shall be deemed
a waiver of any preceding or succeeding breach thereof nor of any other agreement or provision herein contained. No waiver or extension
of time for performance of any obligations or acts shall be deemed a waiver or extension of the time for performance of any other
obligations or acts.

 

7.9. Remedies Cumulative.
In the event that the Company fails to observe or perform any covenant or agreement to be observed or performed under this Agreement,
the Investor or any other holder of Registrable Securities may proceed to protect and enforce its rights by suit in equity or action
at law, whether for specific performance of any term contained in this Agreement or for an injunction against the breach of any
such term or in aid of the exercise of any power granted in this Agreement or to enforce any other legal or equitable right, or
to take any one or more of such actions, without being required to post a bond. None of the rights, powers or remedies conferred
under this Agreement shall be mutually exclusive, and each such right, power or remedy shall be cumulative and in addition to any
other right, power or remedy, whether conferred by this Agreement or now or hereafter available at law, in equity, by statute or
otherwise.

 

7.10. Governing
Law; Dispute Resolution. This Agreement shall be governed by the laws of the Province of British Columbia and the laws of Canada
applicable in such Province. The parties (a) hereby irrevocably and unconditionally submit to the jurisdiction of the courts of
the Province of British Columbia for the purpose of any suit, action or other proceeding arising out of or based upon this Agreement,
(b) agree not to commence any suit, action or other proceeding arising out of or based upon this Agreement except in the courts
of the Province of British Columbia, and (c) hereby waive, and agree not to assert, by way of motion, as a defense, or otherwise,
in any such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts,
that its property is exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient
forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not
be enforced in or by such court.

 

7.11. Waiver of
Trial by Jury. EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES THE RIGHT TO A TRIAL BY JURY OF ANY CLAIM OR CAUSE
OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT OR THE SUBJECT MATTER HEREOF. THE SCOPE OF THIS WAVIER IS INTENDED TO BE
ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS AGREEMENT,
INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT OR DELICT CLAIMS (INCLUDING NEGLIGENCE), BREACH OF DUTY CLAIMS AND ALL OTHER
COMMON LAW, CIVIL LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES HERETO AND THESE PROVISIONS
WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED THIS
WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS RIGHT TO A TRIAL BY JURY FOLLOWING CONSULTATION
WITH LEGAL COUNSEL.

 

Each party will bear
its own costs in respect of any disputes arising under this Agreement. The prevailing party shall be entitled to reasonable legal
fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled. Each of the parties
to this Agreement consents to personal jurisdiction for any equitable action sought in any court of competent jurisdiction.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

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IN WITNESS WHEREOF,
the parties have caused this Investors’ Rights Agreement to be executed and delivered by their duly authorized representatives
as of the date first written above.

 

	 	COMPANY:
	 	 	 
	 	CLEVER LEAVES HOLDINGS INC.
	 	 	 
	 	By:	 
	 	 	Name: 
	 	 	Title: 
	 	 	 
	 	INVESTORS:
	 	 	 
	 	SCHULTZE SPECIAL PURPOSE ACQUISITION SPONSOR, LLC
	 	 	 
	 	By:	Schultze Asset Management, LP
	 	By:	Schultze Asset Management GP, LLC
	 	 	 
	 	By:	 
	 	 	Name: George J. Schultze
	 	 	Title: Managing Member
	 	 	 
	 	 	 
	 	 	Name: William G. LaPerch
	 	 	 
	 	 	 
	 	 	Name: William T. Allen
	 	 	 
	 	 	 
	 	 	Name: John J. Walker

 

Signature Page to Investors’ Rights
Agreement

 

     

     

    

 

EXHIBIT
A

 

Investor Names and Addresses

 

Schultze Special Purpose Acquisition Sponsor, LLC

800 Westchester Avenue, Suite 632

Rye Brook, NY 10573

 

William G. LaPerch

c/o Schultze Special Purpose Acquisition Corp.

800 Westchester Avenue, Suite 632

Rye Brook, NY 10573

 

William T. Allen

c/o Schultze Special Purpose Acquisition Corp.

800 Westchester Avenue, Suite 632

Rye Brook, NY 10573

 

John J. Walker

c/o Schultze Special Purpose Acquisition Corp.

800 Westchester Avenue, Suite 632

Rye Brook, NY 10573Exhibit 10.29

 

		TO:	Clever Leaves International Inc. (formerly, Northern Swan Holdings, Inc.) (the “Company”)

 

		RE:	The Notes (as such term is defined in the amended and restated intercreditor and collateral agency
agreement dated May 10, 2019 (the “Intercreditor Agreement”)) among, the Company, as issuer, GLAS Americas LLC
(the “Collateral Agent”), as collateral agent, GLAS USA LLC, as paying agent, and the noteholders party thereto
from time to time.

 

		DATE:	November 9, 2020

 

AMENDMENT, CONSENT AND WAIVER AGREEMENT
NO. 3

 

WHEREAS all
capitalized terms used in this amendment, consent and waiver agreement (this “Agreement”) and not otherwise defined
herein shall have the meanings ascribed thereto in the Intercreditor Agreement;

 

AND WHEREAS
the undersigned entered into an amendment, consent and waiver agreement dated March 26, 2020, which provided for, among other things,
amendments to the Notes so as to increase the rate of interest payable on the aggregate principal amount owing under the Notes
and to provide that such interest be payable in kind;

 

AND WHEREAS
the undersigned entered into an amendment, consent and waiver agreement no. 2 dated June 23, 2020, which provided for, among other
things, amendments to the Notes to clarify that the amendments to Section 2.2.1 of the Notes described in the recital above were
to have been made effective as of January 1, 2020;

 

AND WHEREAS
the undersigned wish to further amend the Notes as more particularly set out herein;

 

AND WHEREAS
the Company entered into an amended and restated business combination agreement dated as of November 9, 2020 (the “Business
Combination Agreement”), by and among Schultze Special Purpose Acquisition Corp. (“SPAC”), Clever Leaves
Holdings Inc. (“Canada Holdco”), Novel Merger Sub Inc. (“Merger Sub”) and the Company;

 

AND WHEREAS
in order to effect the Transactions (as such term is defined in the Business Combination Agreement), among other things:

 

		(a)	(i) the Company formed each of Canada Holdco and 1255096 B.C. Ltd. (“Canada Newco”),
each being a wholly-owned direct subsidiary of the Company, and (ii) Canada Holdco formed Merger Sub, being a wholly-owned indirect
subsidiary of the Company (which, in accordance with Section 2.3.2 of the Notes, each of Canada Holdco, Canada Newco and Merger
Sub are required to deliver a guarantee to the Secured Parties in respect of the Secured Obligations);

 

		(b)	the Company, being the sole shareholder
                                         of Northern Swan International, Inc. (“NS International”) will contribute
                                         all of the shares it holds in NS International to Canada Newco (which, in accordance
                                         with Sections 6.2.8 and 6.2.12 of the Notes and Section 5.01(b) of the amended and restated
                                         pledge agreement dated May 10, 2019 (the “Pledge Agreement”) given
                                         by the Company to the Collateral Agent, requires the prior written consent of the Noteholders
                                         and the Collateral Agent, respectively), with NS International being a wholly-owned direct
                                         subsidiary of Canada Newco following such contribution;

 

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		(c)	pursuant to the Plan of Arrangement (as such term is defined in the Business Combination Agreement),
all shareholders of the Company will exchange their respective shares in the Company for common shares of Holdco and the Company,
following such exchange, will be a wholly-owned direct subsidiary of Holdco;

 

		(d)	following consummation of the Arrangement (as such term is defined in the Business Combination
Agreement), Merger Sub will merge with and into the SPAC, with SPAC surviving such merger as a wholly-owned direct subsidiary of
Holdco (“Surviving Corporation”);

 

		(e)	the Company will issue certain shares to Canada Holdco in exchange for the contribution by Canada
Holdco to the Company of the Surviving Corporation and, following such contribution, Surviving Corporation will be a wholly-owned
direct subsidiary of the Company; and

 

		(f)	the Surviving Corporation will issue common shares to the Company in exchange for the contribution
by the Company of all of the shares that the Company holds in its wholly-owned direct subsidiary NS US Holdings, Inc. (“NS
US”) to the Surviving Corporation (which, in accordance with Sections 6.2.8 and 6.2.12 of the Notes and Section 5.01(b)
of the Pledge Agreement, requires the prior written consent of the Noteholders and the Collateral Agent, respectively), with NS
US being a wholly-owned direct subsidiary of Surviving Corporation following such contribution;

 

AND WHEREAS prior
to the effectiveness of the Transactions, the Company and Canada Holdco wish to enter into an unsecured subordinated convertible
note dated on or about the date hereof (the “Unsecured Convertible Note”) in favour of Neem Holdings, LLC in
the principal amount of USD$3,000,000 (which, in accordance with Section 6.2.1 of the Notes, requires the prior written consent
of the Noteholders unless the indebtedness owing under such unsecured subordinated convertible note is subordinated to the Obligations
upon terms and conditions and pursuant to a subordination agreement in form and substance reasonably satisfactory to the Noteholders),
the proceeds of which shall be used for the purposes of funding the overall operating expenses of the Company, as well as investments
contemplated by the Company from time to time;

 

AND WHEREAS
the Company has requested the Noteholders to waive the Company’s compliance with Sections 6.2.1, 6.2.8, and 6.2.12 of the Notes
(solely to permit (a) the funding of the overall operating expenses of the Company as well as investments contemplated by the
Company from time to time, and (b) the Transactions) and to direct the Collateral Agent to consent, in accordance with Section
5.01(b) of the Pledge Agreement, to the Company contributing all of the shares it holds in (i) NS International to Canada Newco,
and (ii) NS US to the Surviving Corporation;

 

NOW THEREFORE
for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by each of the undersigned, each
of the undersigned agree as follows:

 

		1.	AMENDMENTS

 

		1.1	Subject to satisfaction of the conditions precedent set forth in Section 3 of this Agreement and
to satisfaction of the conditions subsequent set forth in Section 4.1 of this Agreement:

 

    2

     

    

 

		1.1.1	Common Shares. Each Note is hereby amended by deleting Section 1.1.11 of each Note in its
entirety and replacing it with the following:

 

““Common
Shares” means the Common shares in the capital of Canada Holdco, as such shares exist at
the close of business on the Merger Date; provided that, in the event of a subdivision, redivision, reduction, combination, consolidation
or reclassification of the capital of Canada Holdco or such successive subdivisions, redivisions, reductions, combinations, consolidations
or reclassifications, “Common Shares” shall thereafter mean the shares corresponding to the Common Shares resulting from
such subdivision, redivision, reduction, combination, consolidation or reclassification;”.

 

		1.1.2	Guarantors. Each Note is hereby amended by deleting Section 1.1.21 of each Note in its entirety
and replacing it with the following:

 

““Guarantors”
means Canada Holdco, 1255096 B.C. Ltd., Surviving Corporation, NS US Holdings, Inc., Herbal Brands, Inc., Northern Swan International,
Inc., Northern Swan Management, Inc., Northern Swan Deutschland Holdings, Inc., Northern Swan Portugal Holdings, Inc. and “Guarantor”
means any of them;”. 

 

		1.1.3	Included Obligors. Each Note is hereby amended by deleting Section 1.1.24 of each Note in
its entirety and replacing it with the following:

 

““Included
Obligors” means the Company, Canada Holdco, 1255096 B.C. Ltd., Surviving Corporation, Northern
Swan International, Inc., Eagle Holdings and Clever Leaves, and “Included Obligor” means any one of them;”.

 

		1.1.4	Intercreditor and Collateral Agency Agreement. Each Note is hereby amended by deleting Section
1.1.26 of each Note in its entirety and replacing it with the following:

 

““Intercreditor
and Collateral Agency Agreement” means the amended and restated intercreditor and collateral
agency agreement dated as of May 10, 2019 among the Agent, GLAS USA LLC (the “Paying Agent”),
the Lender, the Other Lenders and the Company, as such agreement may be amended, restated or amended and restated from time to
time;”.

 

		1.1.5	Material Adverse Change. Each Note is hereby amended by deleting Section 1.1.29 of each
Note in its entirety and replacing it with the following:

 

““Material
Adverse Change” means any change or event which constitutes a material adverse change in
(i) the business, operations, condition (financial or otherwise), assets or properties of Canada Holdco and its subsidiaries,
taken as a whole, (ii) the enforceability of this Convertible Note or any of the other Loan Documents against Canada Holdco
or the Company, (iii) the ability of Canada Holdco or the Company to timely and fully perform its obligations hereunder or
under any of the other Loan Documents, or (iv) the ability of the Lender to enforce its rights and remedies hereunder or under
any of the other Loan Documents;”.

 

		1.1.6	Trigger Event. Each Note is hereby amended by amending Section 1.1.45 of each Note by replacing
the amount “USD$13.54” in each of clause (i) and clause (ii) thereof with “USD$41.38”.

 

		1.1.7	Company.

 

		1.1.7.1	Each Note is hereby amended by replacing each reference to “the Company” or “The
Company” with “Canada Holdco” in each of Section 1.1.34, Section 1.1.41, Section 3.3, Section 3.4, Section 3.5,
Section 4.5, Section 4.7 and Section 4.8.

 

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		1.1.7.2	All references in Sections 6.4 of each Note to the Company shall be deemed to be references to both the Company and Canada
Holdco.

 

		1.1.8	Definitions. Each Note is hereby amended by amending Section 1.1 of each Note to insert
the following definitions in proper alphabetical sequence:

 

““Affiliate”
means, in relation to any Person (the “first named person”), any other Person that Controls, is Controlled by
or is under common Control with the first named person; provided that, for greater certainty, none of the Company, Canada Holdco
nor any of their respective subsidiaries is an Affiliate of the Lender or any of its subsidiaries for the purposes of this Convertible
Note;

 

“Business Combination
Agreement” means amended and restated business combination agreement dated as of November 9, 2020, by and among Schultze
Special Purpose Acquisition Corp., Canada Holdco, Novel Merger Sub Inc. and the Company;”

 

“Canada Holdco”
means Clever Leaves Holdings Inc. and any successor thereto;

 

“Exempt Issuances”
means (i) securities issued in conjunction with incentive plans as may be approved by shareholders of the Company, Canada Holdco
or any of their respective Affiliates from time to time, and securities issued to management, directors, employees or consultants
of the Company, Canada Holdco or any of their respective Affiliates in exchange for remuneration; (ii) securities issued pursuant
to the terms of convertible securities outstanding on the date of the Business Combination Agreement; (iii) securities issued upon
the exercise of any warrants of the Company or Canada Holdco outstanding as of the Merger Date; (iv) securities issued upon the
conversion of any convertible common shares of Canada Holdco in accordance with its organizational documents; (v) securities issued
in conjunction with business combinations, acquisitions or other corporate reorganizations; and (vi) securities issued pursuant
to the terms of convertible securities issued after the date of the Business Combination Agreement, provided the Lender was given
the opportunity to fully exercise its rights under Section 5.4 in connection with the issuance of such convertible securities;

 

“Exposure” has
the meaning ascribed to such term in the Intercreditor and Collateral Agency Agreement;

 

“Merger Date”
means the Merger Effective Time (as such term is defined in the Business Combination Agreement);

 

“Rateable Share”
means the Lender’s Exposure as a percentage of the aggregate outstanding Exposure of the Lender and the Other Lenders;

 

“Share Conditions”
means Common Shares that immediately upon issuance meet the following conditions: (i) such Common Shares are issued as fully paid,
non-assessable shares; (ii) such Common Shares are posted or accepted for trade on any of the New York Stock Exchange, NASDAQ,
the Toronto Stock Exchange or the TSX Venture Exchange; and (iii) such Common Shares are freely tradable securities with no resale
or other restrictions;

 

“Surviving Corporation”
means the corporation surviving and continuing following the merger of Novel Merger Sub Inc. and Schultze Special Purpose Acquisition
Corp. and any successor thereto; and

 

    4

     

    

 

“VWAP” means
volume-weighted average price, being the price per security calculated by dividing (x) an amount equal to the total value of securities
traded during a particular time period, by (y) an amount equal to the total volume of securities traded over that particular time
period, which shall be based on the price and volume quotes provided by the applicable public stock exchange, which amount shall
be calculated by the Company and shall be satisfactory to the Lender, each acting reasonably;”.

 

		1.1.9	Modifications. Each Note is hereby amended by amending Section 1 of each Note to insert
the following new Section 1.6:

 

“1.6Modifications.
In the event any amendments or modifications are made to the Business Combination Agreement or to the Payment Spreadsheet or Calculation
Methodology (as such terms are defined in the Business Combination Agreement) and such amendments or modifications could result
in a consequential change to the Conversion Price, each of the Company and the Lenders agree to revise each Note accordingly.”.

 

		1.1.10	Term, Interest and Payment. Each Note is hereby amended by deleting Section 2.2.1 of each
Note in its entirety and replacing it with the following:

 

“2.2.1Interest shall
accrue on the whole amount of the Principal Amount outstanding and remaining from time to time unpaid, commencing from the date
hereof and continuing both before and after the Maturity Date, default and judgment until actual payment in full of this Convertible
Note or conversion as hereinafter provided, at the annual interest rate of eight percent (8%) calculated and payable, (subject
to Section 2.2.4) in cash, quarterly in arrears on March 31, June 30, September 30 and December 31 of each year commencing on March
31, 2019; provided that, from January 1, 2020 to December 31, 2020 interest shall accrue at the annual interest rate of ten percent
(10%) calculated and compounded quarterly in arrears on March 31, 2020, June 30, 2020, and September 30, 2020 and all accrued interest
shall be payable in kind as the Purchase Price (as defined in the applicable Subscription Agreement) for the subscription amount
for the SPAC Shares (as defined in the applicable Subscription Agreement) pursuant to that certain subscription agreement between
the applicable Lender and Schultze Special Purpose Acquisition Corp. (the “Subscription Agreement”). Interest
shall be computed on the basis of the actual number of days elapsed divided by 365 or 366, as the case may be, compounded quarterly.
Principal and interest shall be payable in lawful money of the United States of America, and shall be paid to the Paying Agent
at 3 Second Street, Suite 206, Jersey City, NJ 07311 or at such other place as the Paying Agent may have designated from time to
time in writing to the Company.”

 

		1.1.11	Term, Interest and Payment. Each Note is hereby amended by amending Section 2.2 of each
Note by inserting the following new Section 2.2.4:

 

“2.2.4Subject
to Applicable Law, the Company shall have the right, at its option, by giving notice in writing to the Lender, no more than 15
days and no less than 3 trading days prior to the applicable interest payment date, to pay any such interest payment by issuing
securities to the Lender that meet the Share Conditions. The number of securities which are required to be delivered by the Company
to the Lender in satisfaction of any interest payment shall be determined by calculating the quotient of (A) the dollar amount
of the interest which is due, divided by (B) 95% of the ten (10) day VWAP ending three trading days prior to the relevant
interest payment date. Payment of interest by the delivery of securities that meet the Share Conditions shall be deemed satisfied
upon delivery of the appropriate number of securities to the Lender, or as the Lender may otherwise designate to the Company in
writing, within 3 Business Days of the applicable interest payment date.”.

 

    5

     

    

 

		1.1.12	Guarantees/Security. Each Note is hereby amended by deleting Section 2.3.1 of each Note
in its entirety and replacing it with the following:

 

“2.3.1This
Convertible Note is a direct secured obligation of the Company secured by a first-ranking pledge over (i) the Company’s interests
in and to 1255096 B.C. Ltd. and Surviving Corporation, (ii) Canada Holdco’s interests in and to the Company, (iii) 1255096 B.C.
Ltd.’s interests in and to Northern Swan International, Inc. and (iv) Surviving Corporation’s interests in and to NS US Holdings,
Inc., in each case to and in favour of the Agent for the benefit of the Lender and the other lenders issued secured convertible
notes as of the date hereof (collectively, the “Other Lenders”) as evidenced by those certain pledge agreements
granted in favour of the Agent.”.

 

		1.1.13	Lender Conversion Right. Each Note is hereby amended by amending Section 3.1 of each Note
by replacing the amount “USD$11.00” with “USD$33.62”.

 

		1.1.14	No Fractional Shares. Each Note is hereby amended by amending Section 4.4 of each Note by
inserting the following sentence at the end of such Section:

 

“No fractional
shares shall be issued in connection with the issuance of the SPAC Shares. If any fractional interest in the SPAC Shares would,
except for the provisions of this Section, have been deliverable upon the subscription for the SPAC Shares, it is agreed that the
number of SPAC Shares to be delivered shall be rounded down to the nearest whole integer, in lieu of delivering any certificate
of fractional interest.”.

 

		1.1.15	Company Repayment. Each Note is hereby amended by deleting Section 5.1 of each Note in its
entirety and replacing it with the following:

 

“5.1Company Repayment:
The Obligations may be prepaid by the Company at any time, provided that, any and all applicable accrued interest on such principal
amount that is prepaid is concurrently paid by the Company.”.

 

		1.1.16	Optional Repayment. Each Note is hereby amended by amending Section 5 of each Note to insert
the following new Section 5.3 and Section 5.4:

 

“5.3Optional Repayment:
Subject to the last sentence of this Section, the Company shall have the right, at its option, on March 31, June 30, September
30 and December 31 of each year by giving notice in writing to the Lender to elect to repay the Obligations, in whole or in part,
by issuing securities to the Lender that meet the Share Conditions. The number of securities which are required to be delivered
by the Company to the Lender in satisfaction of any such repayment shall be determined by calculating the quotient of (A) the dollar
amount of the repayment, divided by (B) 95% of the ten (10) day VWAP ending three trading days prior to the relevant date.
Such repayment shall be deemed satisfied upon delivery of the appropriate number of securities to the Lender, or as the Lender
may otherwise designate to the Company in writing, within 3 Business Days following the Company’s election to make such repayment.
The repayment amount permitted pursuant to this Section 5.3 shall be limited to the lesser of (i) four times the ten (10) day average
value of daily volume of traded securities used for the above noted VWAP calculation; and (ii) the Lender’s Rateable Share
of USD$2,000,000.

 

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5.4       Equity
Offering Repayment: Following the Merger Date, from and after such time that the Company, Canada Holdco or any of their respective
Affiliates issue equity securities (including without limitation preferred stock, convertible preferred stock and private investments
in public equity (PIPEs) (collectively, “Equity Securities”) directly or indirectly, for cash or cash equivalents
in excess of USD$25,000,000 (net of reasonable cash fees, including reasonable accounting, advisory and legal fees, commissions
and other out-of-pocket cash expenses, in each case, directly related to or incurred in connection with such issuance) in aggregate
(inclusive of net cash retained on the Merger Date), in the event that the Company, Canada Holdco or any of their respective Affiliates
proposes to issue Equity Securities directly or indirectly, for cash or cash equivalents (an “Equity Financing”),
other than the issue of Equity Securities pursuant to an Exempt Issuance and other than the issue of Equity Securities as part
of the Transactions (as such term is defined in the Business Combination Agreement):

 

		5.4.1	The Company shall deliver a notice to the Lender in writing as soon as practicably possible (and
if a public announcement of an Equity Issuance is required, immediately before such announcement), but in any event at least five
Business Days prior to the proposed closing date of the Equity Financing (the “Equity Financing Notice”), specifying:
(A) the total number of Equity Securities which are proposed to be issued; (B) the rights, privileges, restrictions, terms and
conditions of the Equity Securities proposed to be issued; (C) the consideration for which the Equity Securities are proposed to
be issued; and (D) the proposed closing date of the Equity Financing.

 

		5.4.2	Subject to compliance with Applicable Law and receipt of all required regulatory approvals, the
Lender shall have the right, at its option, to convert the Obligations, in whole or in part, into subscriptions for the purchase
of up to the Lender’s Rateable Share of 25% of such number of Equity Securities that the Company proposes to offer for sale as
described in the Equity Financing Notice for and on the same terms and conditions (taking account for the exchange of the Obligations
instead of a cash or cash equivalent payment), as offered to the other potential investors under the Equity Financing all as set
forth in the Equity Financing Notice; provided that, if any accrued and unpaid interest owing at the date of such conversion on
the Principal Amount so converted is not also converted as set out above, it shall be payable by the Company to the Lender in cash
or securities (as provided in Section 2.2.4 above). If the Lender elects to subscribe for such Equity Securities, the Lender shall
provide written notice to the Company by the close of business on the fifth Business Day following the day upon which the Equity
Financing Notice is received by the Lender, failing which the Lender will not be entitled to exercise its right in respect of such
Equity Financing. In the written notice, the Lender shall specify the amount of Obligations the Lender wishes to convert into Equity
Securities pursuant to such Equity Financing.

 

		5.4.3	If the Lender does not elect to participate in such Equity Financing, then the Company shall be
required to repay the Obligations within 5 Business Days of the closing of such Equity Financing in an amount equal to the Lender’s
Rateable Share of 25% of the Net Proceeds from such Equity Financing. “Net Proceeds” means the net amount equal to the
aggregate amount received in cash in connection with such Equity Financing, less the sum of reasonable fees, including reasonable
accounting, advisory and legal fees, commissions and other out-of-pocket expenses.”.

 

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		1.1.17	Repayment. Each Note is hereby amended by amending Section 6.2.11 of each Note by inserting
the phrase “or (v) unless the Transactions become effective, make any repayment, redemption, purchase or other defeasance
or discharge of indebtedness owing by the Company and Canada Holdco pursuant to the unsecured subordinated convertible note dated
on or about November 9, 2020 (the “Unsecured Convertible Note”) in favour of Neem Holdings, LLC in the principal
amount of USD$3,000,000 (provided that, for greater certainty, the indebtedness owing under the Unsecured Convertible Note may
be converted into class D preferred shares in the capital of the Company in accordance with the terms of the Unsecured Convertible
Note);” at the end of such Section.

 

		1.1.18	Negative Covenants. Each Note is hereby amended by (i) replacing the “.” at the
end of Section 6.2.13 with “; and” and (ii) amending Section 6.2 of each Note to insert the following new Section 6.2.14:

 

“6.2.14amend,
revise, amend and restate or otherwise modify the Business Combination Agreement without the prior written consent of Rimrock High
Income Plus (Master) Fund, Ltd., such consent not to be unreasonably withheld or delayed.”.

 

		1.1.19	Representations and Warranties. Each Note is hereby amended by deleting Section 7.1.6 of
each Note in its entirety and replacing it with the following:

 

“7.1.6
Authorized Capital. The authorized capital of the Company consists of: (A) the following common shares: (i) an unlimited
number of Class A Voting Common shares, of which 19,825,838 are issued and outstanding as of November 9, 2020 (including those
Class A Voting Common shares underlying awards of restricted stock units and deferred shares); (ii) an unlimited number of Class
B Voting Common shares, of which 0 are issued and outstanding as of November 9, 2020; (iii) an unlimited number of Class C Non-Voting
Common shares, of which 0 are issued and outstanding as of November 9, 2020; and (B) the following preferred shares: (i) an unlimited
number of Class C Preferred shares, of which 4,429,559 are issued and outstanding as of November 9, 2020; and (ii) an unlimited
number of Class D Preferred shares, of which 2,319,215 are issued and outstanding as of November 9, 2020. Except pursuant to the
Loan Documents, (i) other than (A) the Class A Voting Common shares to be issued pursuant to the Business Combination Agreement,
(B) 194,805 Class D Preferred shares issuable upon the conversion of a US$3,000,000 principal amount, interest free, unsecured,
subordinated convertible promissory note, (C) such number of Class A Voting Common shares issuable upon the conversion of US$4,162,000
principal amount 8% convertible debentures due June 30, 2023, (D) such number of Class A Voting Common shares issuable upon the
conversion of US$2,230,000 principal amount 8% convertible debentures due September 30, 2023, (E) 2,714,954 stock options issued
to certain employees and consultants of the Company and exercisable for Class A Voting Common shares, (F) warrants to purchase
222,324 Class A Voting Common shares, (G) a warrant to purchase that number of Class A Voting Common shares as will, pursuant to
the Business Combination Agreement and the plan of arrangement set forth therein, convert into and be exchanged for 300,000 Common
shares in the capital of Canada Holdco, and (H) rights of certain management of the Company to obtain 5,625,572 Class A Voting
Common shares in connection with the exchange of certain exchangeable shares of Eagle Holdings, the Company does not have any outstanding
agreement, subscription, warrant, option or commitment (nor has it granted any right or privilege capable of becoming an agreement,
subscription, warrant, option or commitment) obligating it to issue or sell any Common Shares or other securities, including any
security or obligation of any kind convertible into or exchangeable for Common Shares or other security; and (ii) there is no outstanding
share or stock appreciation right, phantom equity, restricted share unit, deferred share unit or similar right, agreement, arrangement
or commitment based on the market price of the Common Shares or the income or any other attribute of the Company or any of its
subsidiaries (except as described above). Except for (i) the amended and restated shareholders agreement dated March 30, 2019 among
the Company and each of the shareholders listed on Schedule A thereto; (ii) the Investor Rights Agreement dated March 30, 2019
among the Company and certain investors listed on Schedule A thereto; and (iii) the Shareholder Support Agreements entered into
in connection with the Business Combination Agreement by and among the Company and certain directors, officers and other key shareholders
each holding in excess of 5% of the issued and outstanding voting securities of the Company, there is no outstanding shareholder
agreement, proxy, voting trust, right to require registration under any applicable securities legislation or any other arrangement
or commitment to which the Company or any of its subsidiaries is a party or bound, with respect to the voting, disposition or registration
of any outstanding securities of the Company or any of its subsidiaries.”.

 

    8

     

    

 

		2.	Waiver AND CONSENT

 

		2.1	Subject to satisfaction of the conditions precedent set forth in Section 3 of this Agreement, each
of the Noteholders hereby (a) waives the Company’s compliance with Sections 6.2.1 of the Notes solely in connection with the incurrence
of the debt owing by the Company and Canada Holdco to Neem Holdings, LLC pursuant to the Unsecured Convertible Note to permit the
funding of the overall operating expenses of the Company as well as investments contemplated by the Company from time to time,
and (b) consents to the repayment of the indebtedness owing by the Company and Canada Holdco to Neem Holdings, LLC in accordance
with the Unsecured Convertible Note, ten (10) Business Days after the completion date for the Transactions (or if the Business
Combination Agreement is terminated in accordance with its terms, issue to Neem Holdings, LLC 194,805 fully paid and non-assessable
class D preferred shares in the capital of the Company within ten (10) Business Days of such termination).

 

		2.2	Subject to satisfaction of the conditions precedent set forth in Section 3 of this Agreement and
satisfaction of the conditions subsequent set forth in Section 4.2 of this Agreement:

 

		2.2.1	Each of the Noteholders hereby waives the Company’s compliance with Sections 6.2.8, and 6.2.12
of the Notes solely to permit the Transactions and the execution and delivery of all documents, instruments and agreements by the
Company in connection therewith, the performance by the Company of all of its obligations thereunder and the entering into and
consummation of any and all of the transactions contemplated thereby.

 

		2.2.2	Each of the Noteholders hereby directs the Collateral Agent to consent, in accordance with Section
5.01(b) of the Pledge Agreement, to the Company contributing all of the shares it holds in (a) Northern Swan International,
Inc. to Canada Newco, and (b) NS US Holdings, Inc. to the Surviving Corporation.

 

		2.2.3	The Collateral Agent hereby consents, in accordance with Section 5.01(b) of the Pledge Agreement,
to the Company contributing all of the shares it holds in (a) Northern Swan International, Inc. to Canada Newco, and (b) NS
US Holdings, Inc. to the Surviving Corporation; provided that such consent shall not constitute a release by the Collateral Agent
of any of the security interests granted to it in accordance with the Pledge Agreement; and provided further that the granting
of such consent shall be conditional upon the receipt by the Collateral Agent of a duly executed guarantee and pledge agreement
from each of Canada Holdco, Canada Newco and Surviving Corporation, together with the original share certificates (and transfer
powers) in respect of the shares pledged pursuant to such pledge agreement, executed copies of all officer’s certificates, resolutions
and opinions reasonably required by either the Collateral Agent or the Required Holder in connection therewith.

 

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		3.	CONDITIONS PRECEDENT

 

		3.1	This Agreement shall not become effective until each of the following conditions shall have been
performed and satisfied to the satisfaction of each of the Noteholders:

 

		3.1.1	this Agreement shall have been duly executed and delivered by each of the parties hereto;

 

		3.1.2	the Noteholders shall have received written confirmation from the Company (or its counsel on its
behalf) that the scope of work set out in the closing agenda attached as Exhibit A hereto (the “Closing Agenda”)
is satisfactory;

 

		3.1.3	receipt by Rimrock High Income Plus (Master) Fund, Ltd. of a work fee in the amount of USD$55,000,
to be applied to legal fees and expenses incurred by counsel to the Noteholders;

 

		3.1.4	the Noteholders shall have received written confirmation from the Company (or its counsel on its
behalf) that it shall pay all of its counsel’s legal fees (up to a maximum of USD$25,000) in respect of the preparation, negotiation,
execution and administration of this Agreement, the other Loan Documents and the ancillary documents required in connection therewith;
and

 

		3.1.5	each of the Noteholders shall have received a PIPE subscription agreement in form and substance
satisfactory to it, which agreement shall contemplate a non-cash exchange of accrued payable in kind interest on the Notes for
common stock of Schultze Special Purpose Acquisition Corp.

 

		4.	CONDITIONS SUBSEQUENT

 

		4.1	The amendments to the Notes set out in Section 1 above shall not become effective unless and until
each of the following conditions subsequent shall have been performed and satisfied:

 

		4.1.1	the Agreed PIPE (as defined in the Business Combination Agreement) has been consummated; and

 

		4.1.2	each of the Transactions has closed and is effective.

 

		4.2	The waivers and consents set out in Section 2 above shall be subject to the satisfaction of each
of the following conditions subsequent being satisfied on or before December 31, 2020 or such later date as the Noteholders may
(in their sole discretion) consent to (the “Conditions Subsequent Satisfaction Date”), failing which such waivers
and consents shall be withdrawn at the close of business on the Conditions Subsequent Satisfaction Date and cease to have force
or effect at that time:

 

		4.2.1	the Agreed PIPE (as defined in the Business Combination Agreement) has been consummated;

 

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		4.2.2	each of the Transactions has closed and is effective; and

 

		4.2.3	each of the Loan Documents and ancillary documents set out in the Closing Agenda are delivered
to the Noteholders, each in form and substance satisfactory to Rimrock High Income Plus (Master) Fund, Ltd.

 

		5.	REPRESENTATIONS AND WARRANTIES

 

		5.1	The Company and each of the Guarantors (as defined in each of the Notes) represents, warrants and
covenants as follows:

 

		5.1.1	each of the statements contained in this Agreement (including the recitals hereto) are true and
accurate in all respects and fully and completely disclose all material information with respect to their subject matter;

 

		5.1.2	all corporate action necessary for the authorization, execution, delivery and performance of this
Agreement by each of the Company and Guarantors have been duly authorized and taken;

 

		5.1.3	this Agreement, when duly executed and delivered by each of the Company and Guarantors will constitute
a legal, valid and binding obligation, enforceable against each of them in accordance with its terms; and

 

		5.1.4	all representations and warranties set out in each of the Notes as they relate to the Company and
Guarantors shall be deemed to have been repeated on the date of this Agreement (except to the extent that such representation or
warranty expressly relates solely to an earlier date or period in which case it is true and correct as of such earlier date or
period) and shall continue in effect for so long as the Company is indebted to the Noteholders pursuant to the Notes or any of
them, subject to any amendments contained herein.

 

		6.	MISCELLANEOUS

 

		6.1	This Agreement is supplemental to the Notes. The Notes and Loan Documents (as defined in each Note)
remain in full force and effect, as amended hereby, and are hereby ratified and confirmed in all respects. Each of the Company
and Guarantors will comply with all reporting requirements, financial covenants and non-financial covenants and all other terms
set forth in each of the Notes and other Loan Documents, as amended hereby, and all other documentation executed and delivered
to the Noteholders in connection therewith.

 

		6.2	Each of the Company and Guarantors hereby agrees to duly execute and deliver or cause to be executed
or delivered such further instruments, agreements or similar documents as may be necessary to carry out the provisions and purposes
of this Agreement.

 

		6.3	The execution, delivery and effectiveness of this Agreement shall not constitute a waiver of any
provision contained in the Notes or Loan Documents, except as specifically set forth herein.

 

    11

     

    

 

		6.4	The consents and waivers set forth in Section 2.1 above shall be limited precisely as written and
relates solely to the provisions of Sections 6.2.8, and 6.2.12 of the Notes in the manner and to the extent described above and
nothing in this Agreement shall be deemed to:

 

		6.4.1	constitute a waiver of compliance by the Company or any other Obligor with respect to any other
term, provision or condition of the Notes or any other Loan Document, or any other instrument or agreement referred to therein;
or

 

		6.4.2	prejudice any right or remedy that the Noteholders, the Collateral Agent or any Person that is
a Noteholder at any time under the Notes may now have or may have in the future under or in connection with the Notes or any other
Loan Document, or any other instrument or agreement referred to therein.

 

		6.5	Each of the Company and Guarantors hereby agrees to duly execute and deliver or cause to be executed
or delivered such further instruments, agreements or similar documents as may be necessary to carry out the provisions and purposes
of this Agreement.

 

		6.6	The execution, delivery and effectiveness of this Agreement shall not constitute a waiver of any
provision contained in the Notes or Loan Documents, except as specifically set forth herein.

 

		6.7	This Agreement shall be governed by and interpreted in accordance with the laws of British Columbia
and the federal laws of Canada applicable therein.

 

		6.8	This Agreement may be executed and delivered in original, facsimile or portable document format
(pdf) form.

 

		6.9	Pursuant to section 4.03(a)(viii) of the Intercreditor Agreement, each of the Noteholders, by their
execution hereof, directs the Collateral Agent, to acknowledge the waivers, consents, requests, amendments and modifications described
and contained herein and it is understood that the Collateral Agent shall be able to conclusively rely upon the Noteholders’ direction
in connection with its acknowledgement of the same.

 

		6.10	It is acknowledged and agreed that:

 

		6.10.1	the execution and delivery by the Collateral Agent of this Agreement is solely intended to satisfy
the technical requirements of Section 4.14(b) of the Intercreditor Agreement and shall not be construed as the consent by the
Collateral Agent to any of the transactions contemplated in Section 2.1 or Section 2.2 of this Agreement, other than as set out
in Section 2.1.3 above; 

 

		6.10.2	the Collateral Agent shall be able to conclusively rely upon the direction provided in  Section
2.2.2 of this Agreement in connection with the consent given in Section 2.2.3 of this Agreement; and

 

		6.10.3	all of the rights, protections and immunities applicable to the Collateral Agent and set forth
in the Notes and the Intercreditor Agreement shall be incorporated by reference herein.

 

(the remainder
of the page has been left intentionally blank; execution pages follow)

 

    12

     

    

 

DATED as of
the date first written above.

 

	 	CLEVER LEAVES INTERNATIONAL INC. 
	 	 
	 	By:	 	/s/
Kyle Detwiler
	 	 	Name: 	Kyle Detwiler
	 	 	Title:	Chief Executive Officer

  

	 	CLEVER LEAVES HOLDINGS INC.
	 	 
	 	By:	 	/s/
Kyle Detwiler
	 	 	Name: 	Kyle Detwiler
	 	 	Title:	Director

    

	 	GLAS AMERICAS LLC
	 	 
	 	By:	 	/s/
Diana Gulyan
	 	 	Name: 	Diana Gulyan
	 	 	Title:	AVP

  

	 	GLAS USA LLC
	 	 
	 	By:	 	/s/
Diana Gulyan
	 	 	Name: 	Diana Gulyan
	 	 	Title:	AVP

  

	 	Rimrock High Income Plus (Master) Fund, Ltd.
	 	 
	 	By:	 	/s/
Steve Foulke
	 	 	Name: 	Steve Foulke
	 	 	Title:	Managing Director

  

	 	Anson INVESTMENTS MASTER FUND LP by its co-investment advisor, ANSON ADVISORS INC.
	 	 
	 	By:	 	/s/ Moez Kassam         
	 	 	Name: 	Moez Kassam
	 	 	Title:	Director

 

    13

     

    

 

	 	Anson OPPORTUNITIES MASTER FUND LP by its co-investment advisor, ANSON ADVISORS INC.
	 	 
	 	By:	 	/s/ Moez Kassam         
	 	 	Name: 	Moez Kassam
	 	 	Title:	Director

   

	 	Anson EAST MASTER FUND LP by its co-investment advisor, ANSON ADVISORS INC.
	 	 
	 	By:	 	/s/ Moez Kassam         
	 	 	Name: 	Moez Kassam
	 	 	Title:	Director

 

	 	AC Anson INVESTMENTS LTD.
	 	 
	 	By:	 	/s/ Moez Kassam         
	 	 	Name: 	Moez Kassam
	 	 	Title:	Director

 

	 	axios growth partners, llc
	 	 
	 	By:	 	 /s/ Nicholas Rutherford        
	 	 	Name: 	Nicholas Rutherford
	 	 	Title:	Manager of Axios Holdings, LLC, the Manager
of Axios Growth Partners, LLC

 

	 	NS CO-INVESTMENT LLC
	 	 
	 	By:	 	/s/ Owen Littman
	 	 	Name: 	Owen Littman
	 	 	Title:	Authorized Person

 

	 	cowen and company, llc, as Noteholder
	 	 
	 	By:	 	/s/ Owen Littman
	 	 	Name: 	Owen Littman
	 	 	Title:	Authorized Person

  

 

 

14

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