Document:

Exhibit 4.4

 

ASSIGNMENT, ASSUMPTION
AND AMENDMENT AGREEMENT

 

This Assignment,
Assumption and Amendment Agreement (this “Agreement”) is made as of December 18, 2020, by and among Schultze
Special Purpose Acquisition Corp., a Delaware corporation (the “Company”), Clever Leaves Holdings Inc., a corporation
organized under the laws of British Columbia, Canada (“Holdco”), and Continental Stock Transfer & Trust
Company, a New York corporation (the “Warrant Agent”).

 

WHEREAS,
the Company and the Warrant Agent are parties to that certain Warrant Agreement, dated as of December 10, 2018, and filed with
the United States Securities and Exchange Commission on December 14, 2018 (the “Existing Warrant Agreement”;
capitalized terms used herein but not otherwise defined in this Agreement shall have the meanings ascribed to such terms in the
Existing Warrant Agreement);

 

WHEREAS,
pursuant to the Existing Warrant Agreement, the Company issued (a) 4,150,000 warrants to the Sponsor (collectively, the “Private
Warrants”) to purchase shares of the Company’s common stock, par value $0.0001 per share (“Common Stock”)
simultaneously with the closing of the Public Offering, at a purchase price of $1.00 per Private Warrant, with each Private Warrant
being exercisable for one share of Common Stock and with an exercise price of $11.50 per share and (b) 13,000,000 warrants to public
investors in the Public Offering (collectively, the “Public Warrants”) to purchase shares of Common Stock, with
each Public Warrant being exercisable for one share of Common Stock and with an exercise price of $11.50 per share;

 

WHEREAS,
on July 25, 2020, a Business Combination Agreement (as amended, amended and restated, supplemented or otherwise modified from time
to time, the “Business Combination Agreement”) was entered into by and among the Company, Holdco, Novel Merger
Sub Inc., a Delaware corporation and a wholly owned direct subsidiary of Holdco (“Merger Sub”), and Clever Leaves
International Inc., a corporation organized under the laws of British Columbia, Canada;

 

WHEREAS, all of the Warrants are governed by
the Existing Warrant Agreement;

 

WHEREAS,
pursuant to the provisions of the Business Combination Agreement, among other things, Merger Sub will merge with and into the Company
with the Company surviving such merger as a wholly owned subsidiary of Holdco (the “Merger”), and, as a result
of the Merger, all shares of Common Stock shall be converted into the right to receive common shares of Holdco (“Holdco
Common Shares”);

 

WHEREAS,
upon consummation of the Merger, as provided in Section 4.5 of the Existing Warrant Agreement, each of the issued and outstanding
Warrants will no longer be exercisable for shares of Common Stock but instead will be exercisable (subject to the terms and conditions
of the Existing Warrant Agreement as amended hereby) for Holdco Common Shares;

 

WHEREAS,
the board of directors of the Company has determined that the consummation of the transactions contemplated by the Business Combination
Agreement will constitute a Business Combination (as defined in Section 3.2 of the Existing Warrant Agreement);

 

     

     

    

 

WHEREAS,
in connection with the Merger, the Company desires to assign all of its right, title and interest in the Existing Warrant Agreement
to Holdco and Holdco wishes to accept such assignment; and

 

WHEREAS,
Section 9.8 of the Existing Warrant Agreement provides that the Company and the Warrant Agent may amend the Existing Warrant Agreement
without the consent of any registered holders for the purpose of curing any ambiguity, or curing, correcting or supplementing any
defective provision contained therein or adding or changing any other provisions with respect to matters or questions arising under
the Existing Warrant Agreement as the Company and the Warrant Agent may deem necessary or desirable and that the Company and the
Warrant Agent deem shall not adversely affect the interest of the registered holders.

 

NOW, THEREFORE,
in consideration of the foregoing and of the mutual covenants and agreements contained herein, the receipt and sufficiency of which
is hereby acknowledged, and intending to be legally bound, the parties hereto hereby agree as follows:

 

 1. Assignment and Assumption; Consent.

 

1.1 Assignment
and Assumption. The Company hereby assigns to Holdco all of the Company’s right, title and interest in and to the Existing
Warrant Agreement (as amended hereby) as of the Merger Effective Time (as defined in the Business Combination Agreement). Holdco
hereby assumes, and agrees to pay, perform, satisfy and discharge in full, as the same become due, all of the Company’s liabilities
and obligations under the Existing Warrant Agreement (as amended hereby) arising from and after the Merger Effective Time.

 

1.2 Consent.
The Warrant Agent hereby consents to the assignment of the Existing Warrant Agreement by the Company to Holdco pursuant to Section
1.1 hereof effective as of the Merger Effective Time, and the assumption of the Existing Warrant Agreement by Holdco from the
Company pursuant to Section 1.1 hereof effective as of the Merger Effective Time, and to the continuation of the Existing
Warrant Agreement in full force and effect from and after the Merger Effective Time, subject at all times to the Existing Warrant
Agreement (as amended hereby) and to all of the provisions, covenants, agreements, terms and conditions of the Existing Warrant
Agreement and this Agreement.

 

2. Amendment
of Existing Warrant Agreement. The Company and the Warrant Agent hereby amend the Existing Warrant Agreement as provided in
this Section 2, effective as of the Merger Effective Time, and acknowledge and agree that the amendments to the Existing
Warrant Agreement set forth in this Section 2 are necessary or desirable and that such amendments do not adversely affect
the interests of the registered holders:

 

2.1 Preamble.
The preamble on page one of the Existing Warrant Agreement is hereby amended by deleting “Schultze Special Acquisition Corp.,
a Delaware corporation” and replacing it with “Clever Leaves Holdings Inc., a corporation organized under the laws
of British Columbia, Canada”. As a result thereof, all references to the “Company” in the Existing Warrant Agreement
shall be references to Clever Leaves Holdings Inc. rather than Schultze Special Acquisition Corp.

 

    2

     

    

 

2.2 Recitals.
The recitals on pages one and two of the Existing Warrant Agreement are hereby deleted and replaced in their entirety as follows:

 

“WHEREAS,
on December 10, 2018, Schultze Special Acquisition Corp. (“Schultze”) entered into that certain Warrant Purchase
Agreement, dated December 10, 2018 (the “Warrant Purchase Agreement”), with Schultze Special Purpose Acquisition
Sponsor, LLC (the “Sponsor”), pursuant to which the Sponsor agreed to purchase an aggregate of 4,150,000 warrants
simultaneously with the closing of the Public Offering (as defined below) bearing the legend set forth in Exhibit B hereto
(the “Private Warrants”) at a purchase price of one dollar ($1.00) per Private Warrant; and

 

WHEREAS, on
December 13, 2018, Schultze consummated its initial public offering (“Public Offering”) of 13,000,000 units
(the “Units”), with each Unit consisting of one share of common stock of Schultze, par value $0.0001 per share
(“Schultze Common Stock”), and one warrant, where each warrant entitles the holder to purchase one share of
Schultze Common Stock at a price of $11.50 per share (the “Public Warrants” and together with the Private Warrants,
the “Schultze Warrants”); and

 

WHEREAS, Schultze
filed with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S-1, No. 333-228494
(the “Registration Statement”) and prospectus (the “Prospectus”), for the registration, under
the Securities Act of 1933, as amended (the “Act”), of the offering and sale of the Units, the Public Warrants
and the Schultze Common Stock included in the Units; and

 

WHEREAS, Schultze,
the Company, Clever Leaves International Inc., a corporation organized under the laws of British Columbia, Canada (“Clever
Leaves”), and Novel Merger Sub Inc., a Delaware corporation and a direct wholly owned subsidiary of the Company (“Merger
Sub”) are parties 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 “Business Combination Agreement”), which,
among other things, provides for the merger of Merger Sub with and into Schultze with Schultze surviving such merger as a wholly
owned subsidiary of the Company (the “Merger”), and, as a result of the Merger, all shares of Schultze Common
Stock shall be converted into and exchanged for the right to receive common shares of the Company (“Company Common Shares”);
and

 

WHEREAS, on
November 9, 2020, the Company, Schultze, the Sponsor and Clever Leaves entered into that certain Amendment No. 1 to Transaction
Support Agreement, pursuant to which the Sponsor agreed to surrender and forfeit a certain amount of Private Warrants immediately
prior to the consummation of the Merger; and

 

WHEREAS, on
December 18, 2020, pursuant to the terms of the Business Combination Agreement, the Company, Schultze and the Warrant Agent entered
into an Assignment, Assumption and Amendment Agreement (the “Warrant Assumption Agreement”), pursuant to which
Schultze assigned this Agreement to the Company and the Company assumed this Agreement from Schultze; and

 

    3

     

    

WHEREAS,
Schultze may issue up to an additional 750,000 Schultze Warrants (the “Working Capital Warrants”) in satisfaction
of the Sponsor Loans (as defined in the Business Combination Agreement) and that certain Promissory Note dated September 13, 2018
issued to Sponsor in the principal amount of $250,000; and

 

WHEREAS,
pursuant to the Business Combination Agreement, the Warrant Assumption Agreement and Section 4.5 of this Agreement, effective
as of the Merger Effective Time (as defined in the Business Combination Agreement), each of the issued and outstanding Schultze
Warrants (including the Working Capital Warrants) were no longer exercisable for shares of Schultze Common Stock but instead became
exercisable (subject to the terms and conditions of this Agreement) for Company Common Shares (each a “Warrant”
and collectively, the “Warrants”); and

 

WHEREAS,
the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection
with the issuance, registration, transfer, exchange, redemption and exercise of the Warrants; and

 

WHEREAS,
the Company desires to provide for the form and provisions of the Warrants, the terms upon which they shall be issued and exercised,
and the respective rights, limitation of rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants;
and

 

WHEREAS,
all acts and things have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company
and countersigned by or on behalf of the Warrant Agent, as provided herein, the valid, binding and legal obligations of the Company,
and to authorize the execution and delivery of this Agreement.

 

NOW,
THEREFORE, in consideration of the mutual agreements herein contained, the parties hereto agree as follows:”

 

2.3 Reference
to Company Common Shares. (i) All references to “Common Stock” in the Existing Warrant Agreement (including all
Exhibits thereto) shall mean “Company Common Shares” and (ii) all references to “stockholders” shall mean
“shareholders.”

 

2.4 Detachability
of Warrants. Section 2.5 of the Existing Warrant Agreement is hereby deleted and replaced with the following:

 

“[INTENTIONALLY OMITTED]”

 

Except that the defined term
“Business Day” set forth therein shall be retained for all purposes of the Existing Warrant Agreement.

 

 2.5 Post IPO Warrants.

 

2.5.1 Section 2.7 of the Existing Warrant
Agreement is hereby deleted in its entirety.

 

    4

     

    

 

2.5.2 All
references to “Post IPO Warrant” in the Existing Warrant Agreement (including all Exhibits thereto) shall be deleted.

 

2.6 Duration
of Warrants. The first sentence of Section 3.2 of the Existing Warrant Agreement is hereby deleted and replaced with the following:

 

“A Warrant may be
exercised only during the period commencing on the date that is thirty (30) days after the consummation of the transactions
contemplated by the Business Combination Agreement (a “Business Combination”), and terminating at 5:00
p.m., New York City time on the earlier to occur of: (x) the date that is five (5) years after the date on which the Business
Combination is completed, (y) the liquidation of the Company, or (z) other than with respect to the Private Warrants, the
Redemption Date (as defined below) as provided in Section 6.2 hereof (the “Expiration Date”); provided, however,
that the exercise of any Warrant shall be subject to the satisfaction of any applicable conditions, as set forth in Subsection
3.3.2 below with respect to an effective registration statement.”

 

 2.7 Book-Entry. A new Section 3.3.6 is hereby inserted as follows:

 

“Notwithstanding anything
herein to the contrary, any Company Common Share issued upon the exercise of a Warrant may be issued by the Company in uncertificated
or book- entry form.”

 

2.8 Replacement
of Securities upon Reorganization, etc. The first sentence and the second sentence of Section 4.5 of the Existing Warrant Agreement
is hereby amended to include the phrase “amalgamation, plan of arrangement” after the word “merger”.

 

2.9 No
Fractional Warrants or Shares. The third sentence of Section 4.7 of the Existing Warrant Agreement is hereby deleted and replaced
with the following:

 

“If, by reason of any
adjustment made pursuant to this Section 4, the holder of any Warrant would be entitled, upon the exercise of such Warrant, to
receive a fractional interest in a share, the Company shall, upon such exercise, round down to the nearest whole number of Company
Common Shares to be issued to the Warrant holder.”

 

 2.10 Notices.

 

2.10.1 Section
9.2 of the Existing Warrant Agreement is hereby amended in part to change the delivery of notices to the Company to the following:

 

“Clever Leaves Holdings
Inc.

489 Fifth Avenue, 27th Floor,

New York,

NY 10017

Attn: CEO

Email: kyle.detwiler@cleverleaves.com”

 

    5

     

    

 

2.10.2 Section
9.2 of the Existing Warrant Agreement is hereby further amended in part to change the delivery of a copy of notices sent to Greenberg
Traurig, LLP to be replaced with the following:

 

“Freshfields Bruckhaus Deringer US LLP

601 Lexington
Avenue, 31st Floor

New York, NY 10022

		Attn:	Sebastian L. Fain, Esq.

		Pam	L. Marcogliese, Esq.

		Email:	sebastian.fain@freshfields.com

		pamela.marcogliese@freshfields.com	”

 

 2.11 Currency. A new Section 9.11 is hereby inserted as follows:

 

“Currency. Unless
otherwise specified in this Agreement, all references to currency, monetary values and dollars set forth herein shall mean U.S.
dollars (USD) and all payments hereunder shall be made in U.S. dollars (USD).”

 

2.12 Exhibit
A to the Existing Warrant Agreement is hereby amended by deleting Exhibit A in its entirety and replacing it with new Exhibit A
attached hereto.

 

 3. Miscellaneous Provisions.

 

3.1 Effectiveness
of Warrant. Each of the parties hereto acknowledges and agrees that the effectiveness of this Agreement shall be expressly
subject to the occurrence of the Merger (as defined in the Business Combination Agreement) and shall automatically be terminated
and shall be null and void if the Business Combination Agreement shall be terminated for any reason.

 

3.2 Successors.
All the covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind and inure
to the benefit of their respective successors and assigns.

 

3.3 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 and be valid and enforceable.

 

3.4 Applicable
Law. The validity, interpretation and performance of this Agreement shall be governed in all respects by the laws of the State
of New York, without giving effect to conflict of law principles that would result in the application of the substantive laws of
another jurisdiction. The parties hereby agree that any action, proceeding or claim against a party arising out of or relating
in any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United States District
Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive.

 

    6

     

    

 

Each of the parties hereby waives any objection to such
exclusive jurisdiction and that such courts represent an inconvenient forum.

 

3.5 Examination
of the Warrant Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the Warrant
Agent in the Borough of Manhattan, City and State of New York, for inspection by the registered holder of any Warrant. The Warrant
Agent may require any such holder to submit his Warrant for inspection by it.

 

3.6 Counterparts.
This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all
purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. Signatures
to this Agreement transmitted by electronic mail in PDF form, or by any other electronic means designed to preserve the original
graphic and pictorial appearance of a document (including DocuSign), will be deemed to have the same effect as physical delivery
of the paper document bearing the original signatures.

 

3.7 Effect
of Headings. The section headings herein are for convenience only and are not part of this Agreement and shall not affect the
interpretation thereof.

 

 3.8 Reference to and Effect on Agreements; Entire Agreement.

 

3.8.1 Any
references to “this Agreement” in the Existing Warrant Agreement will mean the Existing Warrant Agreement as amended
by this Agreement. Except as specifically amended by this Agreement, the provisions of the Existing Warrant Agreement shall remain
in full force and effect.

 

3.8.2 This
Agreement and the Existing Warrant Agreement, as modified by this Agreement, constitutes the entire understanding of the parties
and supersedes all prior agreements, understandings, arrangements, promises and commitments, whether written or oral, express or
implied, relating to the subject matter hereof, and all such prior agreements, understandings, arrangements, promises and commitments
are hereby canceled and terminated.

 

[Remainder of page intentionally
left blank.]

 

    7

     

    

 

IN
WITNESS WHEREOF, each of the parties has caused this Agreement to be duly executed as of the date first above written.

 

	 	Schultze
    Special Purpose Acquisition Corp.
	 	 	 
	 	By:
    	/s/
    George J. Schultze
	 	Name:	George
    J. Schultze
	 	Title:	Chief
    Executive Officer and President
	 	 	 
	 	CLEVER
    LEAVES HOLDINGS INC.
	 	 	 
	 	By:
	/s/
    Kyle Detwiler
	 	Name:
    	Kyle
    Detwiler
	 	Title:
    	Director
	 	 	 
	 	CONTINENTAL
    STOCK TRANSFER &
	 	TRUST
    COMPANY, as Warrant Agent
	 	 	 
	 	By:
    	/s/
    Isaac J Kagan
	 	Name:	Isaac J Kagan
	 	Title:	Vice
    President

    

     

     

    

 

EXHIBIT
A

 

See
attached.

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

NUMBER

________-

 

	(SEE REVERSE
SIDE FOR LEGEND)                                                   	WARRANTS

THIS
WARRANT WILL BE VOID IF NOT EXERCISED PRIOR TO 

THE EXPIRATION DATE (DEFINED BELOW)

 

CLEVER
LEAVES HOLDINGS INC.

 

CUSIP
186760112

 

WARRANT

 

THIS
CERTIFIES THAT, for value received is the registered holder of a warrant or warrants (the “Warrant(s)”) of
Clever Leaves Holdings Inc., a corporation organized under the laws of British Columbia, Canada (the “Company”),
expiring at 5:00 p.m., New York City time, on the five year anniversary of the completion of the business combination (the “Expiration
Date”) contemplated by the Business Combination Agreement, dated as of July 25, 2020, by and among Schultze Special
Purpose Acquisition Corp., Clever Leaves International Inc., the Company and Novel Merger Sub Inc.(the “Business Combination”),
to purchase one fully paid and non-assessable common share without par value (“Shares”), of the Company for
each Warrant evidenced by this Warrant Certificate. The Warrant entitles the holder thereof to purchase from the Company 30 days
after the completion of the Business Combination, such number of Shares of the Company at the Warrant Price (as defined below),
upon surrender of this Warrant Certificate and payment of the Warrant Price at the office or agency of Continental Stock Transfer
& Trust Company (the “Warrant Agent”), but only subject to the conditions set forth herein and in the warrant
agreement between the Company and Continental Stock Transfer & Trust Company (the “Warrant Agreement”).
In no event will the Company be required to net cash settle any warrant exercise. The Warrant Agreement provides that upon the
occurrence of certain events the Warrant Price and the number of Shares purchasable hereunder, set forth on the face hereof, may,
subject to certain conditions, be adjusted. The term “Warrant Price” as used in this Warrant Certificate refers
to the price per Share at which Shares may be purchased at the time the Warrant is exercised. The initial Warrant Price per Share
is equal to $11.50 per share.

 

No
fraction of a Share will be issued upon any exercise of a Warrant. If the holder of a Warrant would be entitled to receive a fraction
of a Share upon any exercise of a Warrant, the Company shall, upon such exercise, round down to the nearest whole number of Shares
to be issued to such holder.

 

Upon
any exercise of the Warrant for less than the total number of full Shares provided for herein, there shall be issued to the registered
holder hereof or the registered holder’s assignee a new Warrant Certificate covering the number of Shares for which the
Warrant has not been exercised.

 

Warrant
Certificates, when surrendered at the office or agency of the Warrant Agent by the registered holder in person or by attorney
duly authorized in writing, may be exchanged in the manner and subject to the limitations provided in the Warrant Agreement, but
without payment of any service charge, for another Warrant Certificate or Warrant Certificates of like tenor and evidencing in
the aggregate a like number of Warrants.

 

Upon
due presentment for registration of transfer of the Warrant Certificate at the office or agency of the Warrant Agent, a new Warrant
Certificate or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to
the transferee in exchange for this Warrant Certificate, subject to the limitations provided in the Warrant Agreement, without
charge except for any applicable tax or other governmental charge.

 

The
Company and the Warrant Agent may deem and treat the registered holder as the absolute owner of this Warrant Certificate (notwithstanding
any notation of ownership or other writing hereon made by anyone), for the purpose of any exercise hereof, of any distribution
to the registered holder, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice
to the contrary.

 

This
Warrant does not entitle the registered holder to any of the rights of a shareholder of the Company.

 

     

     

    

 

The
Company reserves the right to call the Warrant at any time prior to its exercise with a notice of call in writing to the holders
of record of the Warrant, giving at least 30 days’ notice of such call, at any time while the Warrant is exercisable, if
the last sale price of the Shares has been at least $18.00 per share on each of 20 trading days within any 30 trading day period
(the “30-day trading period”) ending on the third business day prior to the date on which notice of such call
is given and if, and only if, there is a current registration statement in effect with respect to the Shares underlying the Warrants
commencing five business days prior to the 30-day trading period and continuing each day thereafter until the date of redemption.
The call price of the Warrants is to be $0.01 per Warrant. Any Warrant either not exercised or tendered back to the Company by
the end of the date specified in the notice of call shall be canceled on the books of the Company and have no further value except
for the $0.01 call price.

 

	By	 	 
	 	 	 
	 	Chief Executive Officer	Chief Financial Officer

 

SUBSCRIPTION
FORM

To
Be Executed by the Registered Holder in Order to Exercise Warrants

 

The
undersigned Registered Holder irrevocably elects to exercise______________Warrants represented by this Warrant Certificate, and to purchase
the Common Shares issuable upon the exercise of such Warrants, and requests that such shares shall be issued in the name of

 

 

(PLEASE
TYPE OR PRINT NAME AND ADDRESS)

 

 

 

 

 

 

(SOCIAL
SECURITY OR TAX IDENTIFICATION NUMBER)

and
be delivered to_________________________________________________________________________________

(PLEASE
PRINT OR TYPE NAME AND ADDRESS)

 

and,
if such number of Warrants shall not be all the Warrants evidenced by this Warrant Certificate, that a new Warrant Certificate
for the balance of such Warrants be registered in the name of, and delivered to, the Registered Holder at the address stated below:

 

	Dated:	 	 	 
		 	 	(SIGNATURE) 
	 	 	 	 
		 	 	(ADDRESS) 
	 	 	 	 
	 	 	 	 
		 	 	(TAX
    IDENTIFICATION NUMBER) 

 

ASSIGNMENT

To
Be Executed by the Registered Holder in Order to Assign Warrants

 

For
Value Received, ______________________hereby sell, assign, and transfer unto

 

 

 

(PLEASE
TYPE OR PRINT NAME AND ADDRESS)

 

 

 

 

 

 

(SOCIAL
SECURITY OR TAX IDENTIFICATION NUMBER)

and
be delivered to_________________________________________________________________________________

(PLEASE
PRINT OR TYPE NAME AND ADDRESS)

 

     

     

    

 

________________________of
the Warrants represented by this Warrant Certificate, and hereby irrevocably constitute and appoint __________________________Attorney
to transfer this Warrant Certificate on the books of the Company, with full power of substitution in the premises.

 

	Dated:	 	 	 
		 	 	(SIGNATURE) 

 

THE
SIGNATURE TO THE ASSIGNMENT OF THE SUBSCRIPTION FORM MUST CORRESPOND TO THE NAME WRITTEN UPON THE FACE OF THIS WARRANT CERTIFICATE
IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER, AND MUST BE GUARANTEED BY A COMMERCIAL BANK OR
TRUST COMPANY OR A MEMBER FIRM OF THE NYSE AMERICAN, NASDAQ, NEW YORK STOCK EXCHANGE, PACIFIC STOCK EXCHANGE, OR CHICAGO STOCK
EXCHANGE.Exhibit 10.4

 

Execution Version

 

INVESTORS’
RIGHTS AGREEMENT

 

THIS INVESTORS’
RIGHTS AGREEMENT (this “Agreement”) is entered into as of December 18, 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 December 18, 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.

 

		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.

 

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		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.

 

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.

 

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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.

 

		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.

 

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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.

 

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.

 

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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.

 

		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).

 

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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.

 

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.

 

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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.

 

		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.

 

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		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.

 

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.

 

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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:	/s/ Kyle Detwiler
	 	 	Name:  	 Kyle Detwiler
	 	 	Title: 	Director
	 	 	 
	 	INVESTORS:
	 	 	 
	 	SCHULTZE SPECIAL PURPOSE ACQUISITION SPONSOR, LLC
	 	 	 
	 	By:	Schultze Asset Management, LP
	 	By:	Schultze Asset Management GP, LLC
	 	 	 
	 	By:	/s/ George J. Schultze
	 	 	Name: 	George J. Schultze
	 	 	Title: 	Managing Member
	 	 	 
	 	 	/s/ William
    G. LaPerch
	 	 	Name: 	William G. LaPerch
	 	 	 
	 	 	/s/
    William T. Allen
	 	 	Name: 	William T. Allen
	 	 	 
	 	 	/s/
    John J. Walker
	 	 	Name: 	John J. Walker

    

     

     

    

 

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 10573

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