Document:

EX-4.4

 Exhibit 4.4 

WARRANT AGREEMENT 
 TDMY
TECHNOLOGY GROUP, INC. 
 and 

CONTINENTAL STOCK TRANSFER & TRUST COMPANY 

Dated [ ], 2021 
 THIS WARRANT
AGREEMENT (this “Agreement”), dated [], 2021, is by and between TdMY Technology Group, Inc., a Delaware corporation (the “Company”), and Continental Stock Transfer & Trust Company, a New York
corporation, as warrant agent (in such capacity, the “Warrant Agent”). 
 WHEREAS, it is proposed that the Company
enter into that certain Private Placement Warrants Purchase Agreement, with TdMY Sponsor, LLC, a Delaware limited liability company (the “Sponsor”), pursuant to which the Sponsor will purchase an aggregate of 4,666,667
warrants (or up to 5,166,667 warrants if the underwriters in the Public Offering (defined below) exercise their Over-allotment Option (as defined below) in full) simultaneously with the closing of the Offering (and the closing of the Over-allotment
Option, if applicable), bearing the legend set forth in Exhibit B hereto (the “Private Placement Warrants”) at a purchase price of $1.50 per Private Placement Warrant. Each Private Placement Warrant entitles the holder
thereof to purchase one share of Class A Common Stock (as defined below) at a price of $11.50 per share, subject to adjustment as described herein; and 

WHEREAS, in order to finance the Company’s transaction costs in connection with an intended initial merger, share exchange, asset
acquisition, share purchase, reorganization or similar business combination, involving the Company and one or more businesses (a “Business Combination”), the Sponsor or an affiliate of the Sponsor or certain of the
Company’s officers and directors may, but are not obligated to, loan the Company funds as the Company may require, of which up to $1,500,000 of such loans may be convertible into up to an additional 1,000,000 Private Placement Warrants at a
price of $1.50 per Private Placement Warrant; and 
 WHEREAS, the Company is engaged in an initial public offering (the
“Offering”) of units of the Company’s equity securities, each such unit comprised of one share of Class A common stock of the Company, par value $0.0001 per share (“Common Stock”), and one-fifth of one Public Warrant (as defined below) (the “Units”) and, in connection therewith, has determined to issue and deliver up to 5,000,000 redeemable warrants (including up to
5,750,000 redeemable warrants subject to the Over-allotment Option) to public investors in the Offering (the “Public Warrants” and, together with the Private Placement Warrants, the “Warrants”). Each
whole Warrant entitles the holder thereof to purchase one share of Common Stock for $11.50 per share, subject to adjustment as described herein. Only whole Warrants are exercisable. A holder of the Public Warrants will not be able to exercise any
fraction of a Warrant; and 
 WHEREAS, the Company has filed with the Securities and Exchange Commission (the
“Commission”) a registration statement on Form S-1, File No. 333-257379 and prospectus (the “Prospectus”), for the
registration, under the Securities Act of 1933, as amended (the “Securities Act”), of the Units, the Public Warrants and the Common Stock included in the Units; 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 (if a physical certificate is issued), 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: 

1. Appointment of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company for the Warrants, and the
Warrant Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions set forth in this Agreement. 

2. Warrants. 
 2.1. Form
of Warrant. Each Warrant shall initially be issued in registered form only. 
 2.2. Effect of Countersignature. If a physical
certificate is issued, unless and until countersigned by the Warrant Agent pursuant to this Agreement, a certificated Warrant shall be invalid and of no effect and may not be exercised by the holder thereof. 

2.3. Registration. 

2.3.1. Warrant Register. The Warrant Agent shall maintain books (the “Warrant Register”), for the registration
of original issuance and the registration of transfer of the Warrants. Upon the initial issuance of the Warrants in book-entry form, the Warrant Agent shall issue and register the Warrants in the names of the respective holders thereof in such
denominations and otherwise in accordance with instructions delivered to the Warrant Agent by the Company. Ownership of beneficial interests in the Public Warrants shall be shown on, and the transfer of such ownership shall be effected through,
records maintained by institutions that have accounts with The Depository Trust Company (the “Depositary”) (such institution, with respect to a Warrant in its account, a “Participant”). 

If the Depositary subsequently ceases to make its book-entry settlement system available for the Public Warrants, the Company may instruct the
Warrant Agent regarding making other arrangements for book-entry settlement. In the event that the Public Warrants are not eligible for, or it is no longer necessary to have the Public Warrants available in, book-entry form, the Warrant Agent shall
provide written instructions to the Depositary to deliver to the Warrant Agent for cancellation each book-entry Public Warrant, and the Company shall instruct the Warrant Agent to deliver to the Depositary definitive certificates in physical form
evidencing such Warrants (“Definitive Warrant Certificates”) which shall be in the form annexed hereto as Exhibit A. 

Physical certificates, if issued, shall be signed by, or bear the facsimile signature of, a Co-Chairman
of the Board, Chief Executive Officer or other principal officer of the Company. In the event the person whose facsimile signature has been placed upon any Warrant shall have ceased to serve in the capacity in which such person signed the Warrant
before such Warrant is issued, it may be issued with the same effect as if he or she had not ceased to be such at the date of issuance. 

2.3.2. Registered Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent may
deem and treat the person in whose name such Warrant is registered in the Warrant Register (the “Registered Holder”) as the absolute owner of such 

  
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Warrant and of each Warrant represented thereby, for the purpose of any exercise thereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice
to the contrary. 
 2.4. Detachability of Warrants. The Common Stock and Public Warrants comprising the Units shall begin separate
trading on the 52nd day following the date of the Prospectus or, if such 52nd day is not on a day, other than a Saturday, Sunday or federal holiday, on which banks in New York City are generally open for normal business (a “Business
Day”), then on the immediately succeeding Business Day following such date, or earlier (the “Detachment Date”) with the consent of Goldman Sachs & Co. LLC, but in no event shall the Common Stock and the
Public Warrants comprising the Units be separately traded until (A) the Company has filed a Current Report on Form 8-K with the Commission containing an audited balance sheet reflecting the receipt by the
Company of the gross proceeds of the Offering, including the proceeds then received by the Company from the exercise by the underwriters of their right to purchase additional Units in the Offering (the “Over-allotment
Option”), if the Over-allotment Option is exercised prior to the filing of the Current Report on Form 8-K, and (B) the Company issues a press release announcing when such separate trading
shall begin. 
 2.5. Fractional Warrants. The Company shall not issue fractional Warrants other than as part of the Units, each of
which is comprised of one share of Common Stock and one-fifth of one whole Public Warrant. If, upon the detachment of Public Warrants from the Units or otherwise, a holder of Warrants would be entitled to
receive a fractional Warrant, the Company shall round down to the nearest whole number the number of Warrants to be issued to such holder. 

2.6. Private Placement Warrants. The Private Placement Warrants shall be identical to the Public Warrants, except that so long as they
are held by the Sponsor, the Company’s officers and directors or any of their Permitted Transferees (as defined below), as applicable, the Private Placement Warrants: (i) may be exercised for cash or on a “cashless basis,”
pursuant to subsection 3.3.1(c) hereof, (ii) including the Common Stock issuable upon exercise of the Private Placement Warrants, may not be transferred, assigned or sold until thirty (30) days after the completion by the Company of
an initial Business Combination, and (iii) shall not be redeemable by the Company; provided, however, that in the case of (ii), the Private Placement Warrants and any Common Stock issued upon exercise of the Private Placement
Warrants may be transferred by the holders thereof: 
 (a) to the Company’s officers or directors, any affiliates or family members of
any of the Company’s officers or directors, any affiliate of the Sponsor or to any member of the Sponsor or any of their affiliates; 

(b) in the case of an individual, by gift to a member of such individual’s immediate family or to a trust, the beneficiary of which is a
member of such individual’s immediate family, an affiliate of such person or to a charitable organization; 
 (c) in the case of an
individual, by virtue of laws of descent and distribution upon death of such person; 
 (d) in the case of an individual, pursuant to a
qualified domestic relations order; 
 (e) by private sales or transfers made in connection with any forward purchase agreement or similar
arrangement or in connection with the consummation of the Company’s Business Combination at prices no greater than the price at which the Private Placement Warrants or Common Stock, as applicable, were originally purchased; 

(f) by virtue of the laws of the State of Delaware or the Sponsor’s organizational documents upon liquidation or dissolution of the
Sponsor; 

  
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 (g) in the event of the Company’s liquidation prior to the completion of its initial
Business Combination; or 
 (h) in the event that, subsequent to the consummation of a Business Combination, the Company completes a
liquidation, merger, share exchange or other similar transaction which results in all of the Company’s stockholders having the right to exchange their Common Stock for cash, securities or other property subsequent to the completion of the
Company’s initial Business Combination; 
 provided, however, that, in the case of clauses (a) through (f), these permitted
transferees (the “Permitted Transferees”) must enter into a written agreement with the Company agreeing to be bound by the transfer restrictions in this Agreement and the other restrictions contained in the letter agreement,
dated the date hereof, by and among the Company, the Sponsor and the Company’s officers and directors. 
 3. Terms and Exercise of
Warrants. 
 3.1. Warrant Price. Each whole Warrant shall entitle the Registered Holder thereof, subject to the provisions of such
Warrant and of this Agreement, to purchase from the Company the number of Common Stock stated therein, at the price of $11.50 per share, subject to the adjustments provided in Section 4 hereof and in the last sentence of
this Section 3.1. The term “Warrant Price” as used in this Agreement shall mean the price per share (including in cash or by payment of Warrants pursuant to a “cashless exercise,” to the
extent permitted hereunder) described in the prior sentence at which shares of Common Stock may be purchased at the time a Warrant is exercised. The Company in its sole discretion may lower the Warrant Price at any time prior to the Expiration Date
(as defined below) for a period of not less than fifteen Business Days (unless otherwise required by the Commission, any national securities exchange on which the Warrants are listed or applicable law); provided that the Company shall provide at
least five days’ prior written notice of such reduction to Registered Holders of the Warrants; and provided further, that any such reduction shall be identical among all of the Warrants. 

3.2. Duration of Warrants. A Warrant may be exercised only during the period (the “Exercise Period”) (A)
commencing on the later of: (i) the date that is thirty (30) days after the first date on which the Company completes a Business Combination, and (ii) the date that is twelve (12) months from the date of the closing of the
Offering, and (B) terminating at the earliest to occur of (x) 5:00 p.m., New York City time on the date that is five (5) years after the date on which the Company completes its initial Business Combination, (y) the liquidation of the
Company in accordance with the Company’s certificate of incorporation (as amended from time to time, the “Charter”), if the Company fails to complete a Business Combination, and (z) 5:00 p.m., New York City time on the
Redemption Date (as defined below) as provided in Section 6.3 hereof; 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 or a valid exemption therefrom being available. Except with respect to the right to receive the Redemption Price (as defined below) in the event of a redemption (as
set forth in Section 6 hereof), each Warrant not exercised on or before the Redemption Date shall become void, and all rights thereunder and all rights in respect thereof under this Agreement shall cease at 5:00 p.m. New
York City time on the Redemption Date. The Company in its sole discretion may extend the duration of the Warrants by delaying the Redemption Date; provided that the Company shall provide at least twenty (20) days prior written notice of
any such extension to Registered Holders of the Warrants and, provided further that any such extension shall be identical in duration among all the Warrants. 

3.3. Exercise of Warrants. 

3.3.1. Payment. Subject to the provisions of the Warrant and this Agreement, a Warrant may be exercised by the Registered Holder
thereof by delivering to the Warrant Agent at its corporate trust department (i) the Definitive Warrant Certificate evidencing the Warrants to be exercised, 

  
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or, in the case of a Warrant represented by a book-entry, the Warrants to be exercised (the “Book-Entry Warrants”) on the records of the Depositary to an account of the
Warrant Agent at the Depositary designated for such purposes in writing by the Warrant Agent to the Depositary from time to time, (ii) an election to purchase (“Election to Purchase”) any shares of Common Stock pursuant
to the exercise of a Warrant, properly completed and executed by the Registered Holder on the reverse of the Definitive Warrant Certificate or, in the case of a Book-Entry Warrant, properly delivered by the Participant in accordance with the
Depositary’s procedures, and (iii) the payment in full of the Warrant Price for each share of Common Stock as to which the Warrant is exercised and any and all applicable taxes due in connection with the exercise of the Warrant, the
exchange of the Warrant for the shares of Common Stock and the issuance of such shares of Common Stock, as follows: 
 (a) in lawful money
of the United States, in good certified check or good bank draft payable to the order of the Warrant Agent; 
 (b) [Reserved]; 

(c) with respect to any Private Placement Warrant, so long as such Private Placement Warrant is held by the Sponsor, one of the Company’s
directors or officers or a Permitted Transferee, by surrendering the Warrants for that number of shares of Common Stock equal to the quotient obtained by dividing (x) the product of the number of shares of Common Stock underlying the Warrants,
multiplied by the excess of the “Sponsor Exercise Fair Market Value” (as defined in this subsection 3.3.1(c)) less the Warrant Price by (y) the Sponsor Exercise Fair Market Value. Solely for purposes of this
subsection 3.3.1(c), the “Sponsor Fair Market Value” shall mean the average last reported sale price of the Common Stock for the ten (10) trading days ending on the third (3rd) trading day prior to the date on
which notice of exercise of the Private Placement Warrant is sent to the Warrant Agent; 
 (d) as provided in
Section 6.2 hereof with respect to a Make-Whole Exercise; or 
 (e) as provided in
Section 7.4 hereof. 
 3.3.2. Issuance of Common Stock on Exercise. As soon as practicable after the
exercise of any Warrant and the clearance of the funds in payment of the Warrant Price (if payment is pursuant to subsection 3.3.1(a)), the Company shall issue to the Registered Holder of such Warrant a book-entry position or certificate, as
applicable, for the number of full shares of Common Stock to which he, she or it is entitled, registered in such name or names as may be directed by him, her or it, and if such Warrant shall not have been exercised in full, a new book-entry position
or countersigned Warrant, as applicable, for the number of shares of Common Stock as to which such Warrant shall not have been exercised. If fewer than all the Warrants evidenced by a Book Entry Warrant Certificate are exercised, a notation shall be
made to the records maintained by the Depositary, its nominee for each Book Entry Warrant Certificate, or a Participant, as appropriate, evidencing the balance of the Warrants remaining after such exercise. Notwithstanding the foregoing, the Company
shall not be obligated to deliver any shares of Common Stock pursuant to the exercise of a Warrant and shall have no obligation to settle such Warrant exercise unless a registration statement under the Securities Act with respect to the shares of
Common Stock underlying the Public Warrants is then effective and a prospectus relating thereto is current, subject to the Company’s satisfying its obligations under Section 7.4. No Warrant shall be exercisable and the
Company shall not be obligated to issue shares of Common Stock upon exercise of a Warrant unless the Common Stock issuable upon such Warrant exercise have been registered, qualified or deemed to be exempt from registration or qualification under the
securities laws of the state of residence of the Registered Holder of the Warrants. In the event that the conditions in the two immediately preceding sentences are not satisfied with respect to a Warrant, the holder of such Warrant shall not be
entitled to exercise such Warrant and such Warrant may have no value and expire worthless, in which case the purchaser of a Unit containing such Public Warrants 

  
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shall have paid the full purchase price for the Units solely for the shares of Common Stock underlying such Unit. In no event will the Company be required to net cash settle the Warrant exercise.
Subject to Section 4.6 of this Agreement, a Registered Holder of Warrants may exercise its Warrants only for a whole number of Common Stock. The Company may require holders of Public Warrants to settle the Warrant on a
“cashless basis” pursuant to Section 7.4. If, by reason of any exercise of Warrants on a “cashless basis”, the holder of any Warrant would be entitled, upon the exercise of such Warrant, to receive a
fractional interest in a share of Common Stock, the Company shall round down to the nearest whole number, the number of shares of Common Stock to be issued to such holder. 

3.3.3. Valid Issuance. All shares of Common Stock issued upon the proper exercise of a Warrant in conformity with this Agreement shall
be validly issued, fully paid and nonassessable. 
 3.3.4. Date of Issuance. Each person in whose name any book-entry position or
certificate, as applicable, for shares of Common Stock is issued shall for all purposes be deemed to have become the holder of record of such shares of Common Stock on the date on which the Warrant, or book-entry position representing such Warrant,
was surrendered and payment of the Warrant Price was made, irrespective of the date of delivery of such certificate in the case of a certificated Warrant, except that, if the date of such surrender and payment is a date when the share transfer books
of the Company or book-entry system of the Warrant Agent are closed, such person shall be deemed to have become the holder of such shares of Common Stock at the close of business on the next succeeding date on which the share transfer books or
book-entry system are open. 
 3.3.5. Maximum Percentage. A holder of a Warrant may notify the Company in writing in the event it
elects to be subject to the provisions contained in this subsection 3.3.5; however, no holder of a Warrant shall be subject to this subsection 3.3.5 unless he, she or it makes such election. If the election is made by a holder, the
Warrant Agent shall not effect the exercise of the holder’s Warrant, and such holder shall not have the right to exercise such Warrant, to the extent that after giving effect to such exercise, such person (together with such person’s
affiliates), to the Warrant Agent’s actual knowledge, would beneficially own in excess of 4.9% or 9.8% (or such other amount as a holder may specify) (the “Maximum Percentage”) of the shares of Common Stock outstanding
immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number of shares of Common Stock beneficially owned by such person and its affiliates shall include the number of shares of Common Stock issuable
upon exercise of the Warrant with respect to which the determination of such sentence is being made, but shall exclude shares of Common Stock that would be issuable upon (x) exercise of the remaining, unexercised portion of the Warrant
beneficially owned by such person and its affiliates and (y) exercise or conversion of the unexercised or unconverted portion of any other securities of the Company beneficially owned by such person and its affiliates (including, without
limitation, any convertible notes or convertible preferred stock or warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein. Except as set forth in the preceding sentence, for purposes of this
paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). For purposes of the Warrant, in determining the number of
outstanding shares of Common Stock, the holder may rely on the number of outstanding shares of Common Stock as reflected in (1) the Company’s most recent Annual Report on Form 10-K, Quarterly Report
on Form 10-Q, Current Report on Form 8-K or other public filing with the Commission as the case may be, (2) a more recent public announcement by the Company or
(3) any other notice by the Company or Continental Stock Transfer & Trust Company, as transfer agent (in such capacity, the “Transfer Agent”), setting forth the number of shares of Common Stock outstanding. For
any reason at any time, upon the written request of the holder of the Warrant, the Company shall, within two (2) Business Days, confirm orally and in writing to such holder the number of shares of Common Stock then outstanding. In any case, the
number of issued and outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of equity securities of the Company by the holder and its affiliates since the date as of which such

  
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number of issued and outstanding shares of Common Stock was reported. By written notice to the Company, the holder of a Warrant may from time to time increase or decrease the Maximum Percentage
applicable to such holder to any other percentage specified in such notice; provided, however, that any such increase shall not be effective until the sixty-first (61st) day after such notice is delivered to the Company. 

4. Adjustments. 
 4.1.
Stock Dividends. 
 4.1.1. Split-Ups. If after the date hereof, and subject to the
provisions of Section 4.6 below, the number of issued and outstanding shares of Common Stock is increased by a stock dividend of Common Stock, or by a split-up of shares of Common
Stock or other similar event, then, on the effective date of such share split-ups or similar event, the number of shares of Common Stock issuable on exercise of each Warrant shall be increased in proportion to
such increase in the issued and outstanding shares of Common Stock. A rights offering made to all or substantially all holders of the Common Stock entitling holders to purchase shares of Common Stock at a price less than the “Historical Fair
Market Value” (as defined below) shall be deemed a stock dividend of a number of shares of Common Stock equal to the product of (i) the number of shares of Common Stock actually sold in such rights offering (or issuable under any other
equity securities sold in such rights offering that are convertible into or exercisable for the Common Stock) and (ii) one (1) minus the quotient of (x) the price per share of Common Stock paid in such rights offering divided by
(y) the Historical Fair Market Value. For purposes of this subsection 4.1.1, (i) if the rights offering is for securities convertible into or exercisable for Common Stock, in determining the price payable for Common Stock, there shall be
taken into account any consideration received for such rights, as well as any additional amount payable upon exercise or conversion and (ii) “Historical Fair Market Value” means the volume weighted average price of the Common
Stock during the ten (10) trading day period ending on the trading day prior to the first date on which the shares of Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive such
rights. 
 4.1.2. Extraordinary Dividends. If the Company, at any time while the Warrants are outstanding and unexpired, pays to all
or substantially all of the holders of the Common Stock a dividend or makes a distribution in cash, securities or other assets on account of such shares of Common Stock (or other shares into which the Warrants are convertible), other than
(a) as described in subsection 4.1.1 above, (b) Ordinary Cash Dividends (as defined below), (c) to satisfy the redemption rights of the holders of the Common Stock in connection with a proposed initial Business Combination,
(d) to satisfy the redemption rights of the holders of the Common Stock in connection with a stockholder vote to amend the Company’s Charter (i) to modify the substance or timing of the Company’s obligation to provide holders of
Common Stock the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Company’s public shares if it does not complete its initial Business Combination within the period
set forth in the Charter, or (ii) with respect to any other provision relating to the rights of holders of Common Stock or (e) in connection with the redemption of public shares upon the failure of the Company to complete its initial
Business Combination and any subsequent distribution of its assets upon its liquidation (any such non-excluded event being referred to herein as an “Extraordinary Dividend”), then the
Warrant Price shall be decreased, effective immediately after the effective date of such Extraordinary Dividend, by the amount of cash and/or the fair market value (as determined by the Company’s board of directors (the
“Board”), in good faith) of any securities or other assets paid on each share of Common Stock in respect of such Extraordinary Dividend. For purposes of this subsection 4.1.2, “Ordinary Cash
Dividends” means any cash dividend or cash distribution which, when combined on a per share basis, with the per share amounts of all other cash dividends and cash distributions paid on the Common Stock during the 365-day period ending on the date of declaration of such dividend or distribution to the extent it does not exceed $0.50 (which amount shall be adjusted to appropriately reflect any of the events referred to in
other subsections of this Section 4 and excluding cash dividends or cash distributions 

  
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that resulted in an adjustment to the Warrant Price or to the number of shares of Common Stock issuable on exercise of each Warrant). 

4.2. Aggregation of Shares. If after the date hereof, and subject to the provisions of Section 4.6 hereof, the
number of issued and outstanding shares of Common Stock is decreased by a consolidation, combination, reverse stock split or reclassification of shares of Common Stock or other similar event, then, on the effective date of such consolidation,
combination, reverse stock split, reclassification or similar event, the number of shares of Common Stock issuable on exercise of each Warrant shall be decreased in proportion to such decrease in issued and outstanding shares of Common Stock. 

4.3. Adjustments in Warrant Price. Whenever the number of shares of Common Stock purchasable upon the exercise of the Warrants is
adjusted, as provided in subsection 4.1.1 or Section 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price immediately prior to such adjustment by a fraction
(x) the numerator of which shall be the number of shares of Common Stock purchasable upon the exercise of the Warrants immediately prior to such adjustment, and (y) the denominator of which shall be the number of shares of Common Stock so
purchasable immediately thereafter. 
 4.4. Raising of the Capital in Connection with the Initial Business Combination. If
(x) the Company issues additional shares of Common Stock or equity-linked securities for capital raising purposes in connection with the closing of its initial Business Combination at an issue price or effective issue price of less than $9.20
per share of Common Stock (with such issue price or effective issue price to be determined in good faith by the Board and, in the case of any such issuance to the Sponsor or its affiliates, without taking into account any shares of Class B
Common Stock (as defined below), par value $0.0001 per share, of the Company held by the Sponsor or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from
such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of the Company’s initial Business Combination on the date of the completion of the Company’s initial Business Combination
(net of redemptions), and (z) the volume-weighted average trading price of the Common Stock during the twenty (20) trading day period starting on the trading day prior to the day on which the Company consummates its initial Business
Combination (such price, the “Market Value”) is below $9.20 per share, the Warrant Price shall be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, the $18.00 per
share redemption trigger price described in Section 6.1 and Section 6.2 shall be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price and
the $10.00 per share redemption trigger price described in Section 6.2 shall be adjusted (to the nearest cent) to be equal to the higher of the Market Value and the Newly Issued Price. 

4.5. Replacement of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the issued and outstanding
shares of Common Stock (other than a change under Section 4.1 or Section 4.2 hereof or that solely affects the par value of such shares of Common Stock), or in the case of any merger or
consolidation of the Company with or into another corporation (other than a consolidation or merger in which the Company is the continuing corporation (and is not a subsidiary of another entity whose stockholders did not own all or substantially all
of the Common Stock of the Company in substantially the same proportions immediately before such transaction) and that does not result in any reclassification or reorganization of the issued and outstanding shares of Common Stock), or in the case of
any sale or conveyance to another corporation or entity of the assets or other property of the Company as an entirety or substantially as an entirety in connection with which the Company is dissolved, the holders of the Warrants shall thereafter
have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the Warrants and in lieu of the shares of Common Stock of the Company immediately theretofore purchasable and receivable upon the exercise of the
rights represented thereby, the kind and amount of shares or stock or other securities or property (including cash) receivable upon such 

  
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reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the holder of the Warrants would have received if such holder had
exercised his, her or its Warrant(s) immediately prior to such event (the “Alternative Issuance”); provided, however, that (i) if the holders of the Common Stock were entitled to exercise a right of election as to
the kind or amount of securities, cash or other assets receivable upon such consolidation or merger, then the kind and amount of securities, cash or other assets constituting the Alternative Issuance for which each Warrant shall become exercisable
shall be deemed to be the weighted average of the kind and amount received per share by the holders of the Common Stock in such consolidation or merger that affirmatively make such election, and (ii) if a tender, exchange or redemption offer
shall have been made to and accepted by the holders of the Common Stock (other than a tender, exchange or redemption offer made by the Company in connection with redemption rights held by stockholders of the Company as provided for in the Charter or
as a result of the redemption of shares of Common Stock by the Company if a proposed initial Business Combination is presented to the stockholders of the Company for approval) under circumstances in which, upon completion of such tender or exchange
offer, the maker thereof, together with members of any group (within the meaning of Rule 13d-5(b)(1) under the Exchange Act) of which such maker is a part, and together with any affiliate or associate of such
maker (within the meaning of Rule 12b-2 under the Exchange Act) and any members of any such group of which any such affiliate or associate is a part, own beneficially (within the meaning of Rule 13d-3 under the Exchange Act) more than 50% of the issued and outstanding shares of Common Stock, the holder of a Warrant shall be entitled to receive as the Alternative Issuance, the highest amount of cash,
securities or other property to which such holder would actually have been entitled as a stockholder if such Warrant holder had exercised the Warrant prior to the expiration of such tender or exchange offer, accepted such offer and all of the Common
Stock held by such holder had been purchased pursuant to such tender or exchange offer, subject to adjustments (from and after the consummation of such tender or exchange offer) as nearly equivalent as possible to the adjustments provided for in
this Section 4; provided further that if less than 70% of the consideration receivable by the holders of the Common Stock in the applicable event is payable in the form of common stock in the successor entity that is
listed for trading on a national securities exchange or is quoted in an established over-the-counter market, or is to be so listed for trading or quoted immediately
following such event, and if the Registered Holder properly exercises the Warrant within thirty (30) days following the public disclosure of the consummation of such applicable event by the Company pursuant to a Current Report on Form 8-K filed with the Commission, the Warrant Price shall be reduced by an amount (in dollars) equal to the difference of (i) the Warrant Price in effect prior to such reduction minus (ii) (A) the Per Share
Consideration (as defined below) (but in no event less than zero) minus (B) the Black-Scholes Warrant Value (as defined below). The “Black-Scholes Warrant Value” means the value of a Warrant immediately prior to the
consummation of the applicable event based on the Black-Scholes Warrant Model for a Capped American Call on Bloomberg Financial Markets (assuming zero dividends) (“Bloomberg”). For purposes of calculating such amount,
(i) Section 6 of this Agreement shall be taken into account, (ii) the price of each share of Common Stock shall be the volume weighted average price of the Common Stock during the ten (10) trading day period
ending on the trading day prior to the effective date of the applicable event, (iii) the assumed volatility shall be the 90 day volatility obtained from the HVT function on Bloomberg determined as of the trading day immediately prior to the day
of the announcement of the applicable event and (iv) the assumed risk-free interest rate shall correspond to the U.S. Treasury rate for a period equal to the remaining term of the Warrant. “Per Share Consideration” means
(i) if the consideration paid to holders of the Common Stock consists exclusively of cash, the amount of such cash per share of Common Stock, and (ii) in all other cases, the volume weighted average price of the Common Stock as reported
during the ten (10) trading day period ending on the trading day prior to the effective date of the applicable event. If any reclassification or reorganization also results in a change in shares of Common Stock covered by subsection
4.1.1, then such adjustment shall be made pursuant to subsection 4.1.1 or Sections 4.2, 4.3 and this Section 4.4. The provisions of this Section 4.4 shall similarly apply
to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers. In no event shall the Warrant Price be reduced to less than the par value per share issuable upon exercise of such Warrant. 

  
 9 

 4.6. Notices of Changes in Warrant. Upon every adjustment of the Warrant Price or the
number of shares of Common Stock issuable upon exercise of a Warrant, the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting from such adjustment and the increase or decrease, if any,
in the number of shares of Common Stock purchasable at such price upon the exercise of a Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon the occurrence of any event
specified in Sections 4.1, 4.2, 4.3, 4.4 or 4.5, the Company shall give written notice of the occurrence of such event to each holder of a Warrant, at the last address set forth for such holder in the Warrant Register, of the record
date or the effective date of the event. Failure to give such notice, or any defect therein, shall not affect the legality or validity of such event. 

4.7. No Fractional Shares. Notwithstanding any provision contained in this Agreement to the contrary, the Company shall not issue
fractional shares of Common Stock upon the exercise of Warrants. 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 the number of shares of Common Stock to be issued to such holder. 

4.8. Form of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this
Section 4, and Warrants issued after such adjustment may state the same Warrant Price and the same number of shares of Common Stock as is stated in the Warrants initially issued pursuant to this Agreement; provided,
however, that the Company may at any time in its sole discretion make any change in the form of Warrant that the Company may deem appropriate and that does not affect the substance thereof, and any Warrant thereafter issued or countersigned, whether
in exchange or substitution for an outstanding Warrant or otherwise, may be in the form as so changed. 
 4.9. Other Events. In case
any event shall occur affecting the Company as to which none of the provisions of the preceding subsections of this Section 4 are strictly applicable, but which would require an adjustment to the terms of the Warrants in order to (i) avoid
an adverse impact on the Warrants and (ii) effectuate the intent and purpose of this Section 4, then, in each such case, the Company shall appoint a firm of independent public accountants, investment banking or other
appraisal firm of recognized national standing, which shall give its opinion as to whether or not any adjustment to the rights represented by the Warrants is necessary to effectuate the intent and purpose of this Section 4
and, if they determine that an adjustment is necessary, the terms of such adjustment. The Company shall adjust the terms of the Warrants in a manner that is consistent with any adjustment recommended in such opinion. 

4.10. No Adjustment. For the avoidance of doubt, no adjustment shall be made to the terms of the Warrants solely as a result of an
adjustment to the conversion ratio of the shares of the Company’s Class B common stock (the “Class B Common Stock”) into Common Stock or the conversion of the shares of Class B
Common Stock into Common Stock, in each case, pursuant to the Charter. 
 5. Transfer and Exchange of Warrants. 

5.1. Registration of Transfer. The Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant upon the
Warrant Register, upon surrender of such Warrant for transfer, properly endorsed with signatures properly guaranteed and accompanied by appropriate instructions for transfer. Upon any such transfer, a new Warrant representing an equal aggregate
number of Warrants shall be issued and the old Warrant shall be cancelled by the Warrant Agent. In the case of certificated Warrants, the Warrants so cancelled shall be delivered by the Warrant Agent to the Company from time to time upon request.

 5.2. Procedure for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, together with a written request for
exchange or transfer, and thereupon the Warrant Agent shall issue 

  
 10 

 
in exchange therefor one or more new Warrants as requested by the Registered Holder of the Warrants so surrendered, representing an equal aggregate number of Warrants; provided, however,
that except as otherwise provided herein or with respect to any Book-Entry Warrant, each Book-Entry Warrant may be transferred only in whole and only to the Depositary, to another nominee of the Depositary, to a successor depository, or to a nominee
of a successor depository; provided further, however that in the event that a Warrant surrendered for transfer bears a restrictive legend (as in the case of the Private Placement Warrants), the Warrant Agent shall not cancel
such Warrant and issue new Warrants in exchange thereof until the Warrant Agent has received an opinion of counsel for the Company stating that such transfer may be made and indicating whether the new Warrants must also bear a restrictive legend.

 5.3. Fractional Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which shall
result in the issuance of a warrant certificate or book-entry position for a fraction of a warrant, except as part of the Units. 
 5.4.
Service Charges. No service charge shall be made for any exchange or registration of transfer of Warrants. 
 5.5. Warrant
Execution and Countersignature. The Warrant Agent is hereby authorized to countersign and to deliver, in accordance with the terms of this Agreement, the Warrants required to be issued pursuant to the provisions of this
Section 5, and the Company, whenever required by the Warrant Agent, shall supply the Warrant Agent with Warrants duly executed on behalf of the Company for such purpose. 

5.6. Transfer of Warrants. Prior to the Detachment Date, the Public Warrants may be transferred or exchanged only together with the Unit
in which such Warrant is included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange of such Unit. Furthermore, each transfer of a Unit on the register relating to such Units shall operate also to transfer the
Warrants included in such Unit. Notwithstanding the foregoing, the provisions of this Section 5.6 shall have no effect on any transfer of Warrants on and after the Detachment Date. 

6. Redemption. 
 6.1.
Redemption of Warrants for Cash. Subject to Section 6.5 hereof, not less than all of the outstanding Warrants may be redeemed, at the option of the Company, at any time during the Exercise Period, at the office of
the Warrant Agent, upon notice to the Registered Holders of the Warrants, as described in Section 6.3 below, at a Redemption Price of $0.01 per Warrant, provided that (a) the Reference Value equals or exceeds $18.00
per share (subject to adjustment in compliance with Section 4 hereof) and (b) there is an effective registration statement covering the issuance of the shares of Common Stock issuable upon exercise of the Warrants, and
a current prospectus relating thereto, available throughout the 30-day Redemption Period (as defined in Section 6.3 below). 

6.2. Redemption of Warrants for Shares of Common Stock. Subject to Section 6.5 hereof, not less than all of
the outstanding Warrants may be redeemed, at the option of the Company, at any time during the Exercise Period, at the office of the Warrant Agent, upon notice to the Registered Holders of the Warrants, as described in
Section 6.3 below, at a Redemption Price of $0.10 per Warrant, provided that the Reference Value equals or exceeds $10.00 per share (subject to adjustment in compliance with Section 4
hereof). During the 30-day Redemption Period in connection with a redemption pursuant to this Section 6.2, Registered Holders of the Warrants may elect to exercise their Warrants on a
“cashless basis” pursuant to subsection 3.3.1 and receive a number of shares of Common Stock determined by reference to the table below, based on the Redemption Date (calculated for purposes of the table as the period to expiration
of the Warrants) and the “Redemption Fair Market Value” (as such term is defined in this Section 6.2) (a “Make-Whole Exercise”). Solely for purposes of this
Section 6.2, the “Redemption Fair Market Value” shall mean the volume weighted average price of the shares of Common Stock for the ten (10) 

  
 11 

 
trading days immediately following the date on which notice of redemption pursuant to this Section 6.2 is sent to the Registered Holders. In connection with any
redemption pursuant to this Section 6.2, the Company shall provide the Registered Holders with the Redemption Fair Market Value no later than one (1) Business Day after the ten (10) trading day period described
above ends. 
  

																																					
	 	  	Fair Market Value of Class A Common Stock (period to expiration of warrants)	 
	Redemption Date	  	£$10.00	 	  	$11.00	 	  	$12.00	 	  	$13.00	 	  	$14.00	 	  	$15.00	 	  	$16.00	 	  	$17.00	 	  	3$18.00	 
	 60 months
	  	 	0.261	 	  	 	0.281	 	  	 	0.297	 	  	 	0.311	 	  	 	0.324	 	  	 	0.337	 	  	 	0.348	 	  	 	0.358	 	  	 	0.361	 
	 57 months
	  	 	0.257	 	  	 	0.277	 	  	 	0.294	 	  	 	0.310	 	  	 	0.324	 	  	 	0.337	 	  	 	0.348	 	  	 	0.358	 	  	 	0.361	 
	 54 months
	  	 	0.252	 	  	 	0.272	 	  	 	0.291	 	  	 	0.307	 	  	 	0.322	 	  	 	0.335	 	  	 	0.347	 	  	 	0.357	 	  	 	0.361	 
	 51 months
	  	 	0.246	 	  	 	0.268	 	  	 	0.287	 	  	 	0.304	 	  	 	0.320	 	  	 	0.333	 	  	 	0.346	 	  	 	0.357	 	  	 	0.361	 
	 48 months
	  	 	0.241	 	  	 	0.263	 	  	 	0.283	 	  	 	0.301	 	  	 	0.317	 	  	 	0.332	 	  	 	0.344	 	  	 	0.356	 	  	 	0.361	 
	 45 months
	  	 	0.235	 	  	 	0.258	 	  	 	0.279	 	  	 	0.298	 	  	 	0.315	 	  	 	0.330	 	  	 	0.343	 	  	 	0.356	 	  	 	0.361	 
	 42 months
	  	 	0.228	 	  	 	0.252	 	  	 	0.274	 	  	 	0.294	 	  	 	0.312	 	  	 	0.328	 	  	 	0.342	 	  	 	0.355	 	  	 	0.361	 
	 39 months
	  	 	0.221	 	  	 	0.246	 	  	 	0.269	 	  	 	0.290	 	  	 	0.309	 	  	 	0.325	 	  	 	0.340	 	  	 	0.354	 	  	 	0.361	 
	 36 months
	  	 	0.213	 	  	 	0.239	 	  	 	0.263	 	  	 	0.285	 	  	 	0.305	 	  	 	0.323	 	  	 	0.339	 	  	 	0.353	 	  	 	0.361	 
	 33 months
	  	 	0.205	 	  	 	0.232	 	  	 	0.257	 	  	 	0.280	 	  	 	0.301	 	  	 	0.320	 	  	 	0.337	 	  	 	0.352	 	  	 	0.361	 
	 30 months
	  	 	0.196	 	  	 	0.224	 	  	 	0.250	 	  	 	0.274	 	  	 	0.297	 	  	 	0.316	 	  	 	0.335	 	  	 	0.351	 	  	 	0.361	 
	 27 months
	  	 	0.185	 	  	 	0.214	 	  	 	0.242	 	  	 	0.268	 	  	 	0.291	 	  	 	0.313	 	  	 	0.332	 	  	 	0.350	 	  	 	0.361	 
	 24 months
	  	 	0.173	 	  	 	0.204	 	  	 	0.233	 	  	 	0.260	 	  	 	0.285	 	  	 	0.308	 	  	 	0.329	 	  	 	0.348	 	  	 	0.361	 
	 21 months
	  	 	0.161	 	  	 	0.193	 	  	 	0.223	 	  	 	0.252	 	  	 	0.279	 	  	 	0.304	 	  	 	0.326	 	  	 	0.347	 	  	 	0.361	 
	 18 months
	  	 	0.146	 	  	 	0.179	 	  	 	0.211	 	  	 	0.242	 	  	 	0.271	 	  	 	0.298	 	  	 	0.322	 	  	 	0.345	 	  	 	0.361	 
	 15 months
	  	 	0.130	 	  	 	0.164	 	  	 	0.197	 	  	 	0.230	 	  	 	0.262	 	  	 	0.291	 	  	 	0.317	 	  	 	0.342	 	  	 	0.361	 
	 12 months
	  	 	0.111	 	  	 	0.146	 	  	 	0.181	 	  	 	0.216	 	  	 	0.250	 	  	 	0.282	 	  	 	0.312	 	  	 	0.339	 	  	 	0.361	 
	 9 months
	  	 	0.090	 	  	 	0.125	 	  	 	0.162	 	  	 	0.199	 	  	 	0.237	 	  	 	0.272	 	  	 	0.305	 	  	 	0.336	 	  	 	0.361	 
	 6 months
	  	 	0.065	 	  	 	0.099	 	  	 	0.137	 	  	 	0.178	 	  	 	0.219	 	  	 	0.259	 	  	 	0.296	 	  	 	0.331	 	  	 	0.361	 
	 3 months
	  	 	0.034	 	  	 	0.065	 	  	 	0.104	 	  	 	0.150	 	  	 	0.197	 	  	 	0.243	 	  	 	0.286	 	  	 	0.326	 	  	 	0.361	 
	 0 months
	  	 	—  	 	  	 	—  	 	  	 	0.042	 	  	 	0.115	 	  	 	0.179	 	  	 	0.233	 	  	 	0.281	 	  	 	0.323	 	  	 	0.361	 

 The exact Redemption Fair Market Value and Redemption Date may not be set forth in the table above, in which
case, if the Redemption Fair Market Value is between two values in the table or the Redemption Date is between two redemption dates in the table, the number of shares of Common Stock to be issued for each Warrant exercised in a Make-Whole Exercise
shall be determined by a straight-line interpolation between the number of shares set forth for the higher and lower Redemption Fair Market Values and the earlier and later redemption dates, as applicable, based on a
365- or 366-day year, as applicable. 
 The share prices set
forth in the column headings of the table above shall be adjusted as of any date on which the number of shares issuable upon exercise of a Warrant or the Warrant Price is adjusted pursuant to Section 4 hereof. If the number
of shares issuable upon exercise of a Warrant is adjusted pursuant to Section 4 hereof, the adjusted share prices in the column headings shall equal the share prices immediately prior to such adjustment, multiplied by a
fraction, the numerator of which is the number of shares deliverable upon exercise of a Warrant immediately prior to such adjustment and the denominator of which is the number of shares deliverable upon exercise of a Warrant as so adjusted. The
number of shares in the table above shall be adjusted in the same manner and at the same time as the number of shares issuable upon exercise of a Warrant. If the Warrant Price of a warrant is adjusted, (a) in the case of an adjustment pursuant
to Section 4.4 hereof, the adjusted share prices in the column headings shall equal the share prices immediately prior to such adjustment multiplied by a fraction, the numerator of which is the higher of the Market Value
and the Newly Issued Price and the denominator of which is $10.00 and (b) in the case of an adjustment pursuant to Section 4.1.2 hereof, the adjusted share prices in the column headings shall equal the share prices
immediately prior to such adjustment less the decrease in the Warrant Price pursuant to such Warrant Price adjustment. In no event shall the number of shares issued in connection with a Make-Whole Exercise exceed 0.361 shares of Common Stock per
Warrant (subject to adjustment) 

  
 12 

 6.3. Date Fixed for, and Notice of, Redemption; Redemption Price; Reference Value. In
the event that the Company elects to redeem the Warrants pursuant to Sections 6.1 or 6.2, the Company shall fix a date for the redemption (the “Redemption Date”). Notice of redemption shall be mailed by first
class mail, postage prepaid, by the Company not less than thirty (30) days prior to the Redemption Date (the “30-day Redemption Period”) to the Registered Holders of the Warrants
to be redeemed at their last addresses as they shall appear on the registration books. Any notice mailed in the manner herein provided shall be conclusively presumed to have been duly given whether or not the Registered Holder received such notice.
As used in this Agreement, (a) “Redemption Price” shall mean the price per Warrant at which any Warrants are redeemed pursuant to Sections 6.1 or 6.2 and (b) “Reference Value” shall mean
the last reported sales price of the shares of Common Stock for any twenty (20) trading days within the thirty (30) trading-day period ending on the third trading day prior to the date on which
notice of the redemption is given. 
 6.4. Exercise After Notice of Redemption. The Warrants may be exercised, for cash (or on a
“cashless basis” in accordance with Section 6.2 of this Agreement) at any time after notice of redemption shall have been given by the Company pursuant to Section 6.3 hereof and prior to
the Redemption Date. On and after the Redemption Date, the record holder of the Warrants shall have no further rights except to receive, upon surrender of the Warrants, the Redemption Price. 

6.5. Exclusion of Private Placement Warrants. The Company agrees that (a) the redemption rights provided in
Section 6.1 and Section 6.2 hereof shall not apply to the Private Placement Warrants if at the time of the redemption such Private Placement Warrants continue to be held by the Sponsor or its
Permitted Transferees, as applicable. However, once such Private Placement Warrants are transferred (other than to Permitted Transferees in accordance with Section 2.6 hereof), the Company may redeem the Private Placement
Warrants pursuant to Section 6.1 or 6.2 hereof, provided that the criteria for redemption are met, including the opportunity of the holder of such Private Placement Warrants to exercise the Private Placement Warrants
prior to redemption pursuant to Section 6.4 hereof. Private Placement Warrants that are transferred to persons other than Permitted Transferees shall upon such transfer cease to be Private Placement Warrants and shall
become Public Warrants under this Agreement, including for purposes of Section 9.8 hereof. 
 7. Other
Provisions Relating to Rights of Holders of Warrants. 
 7.1. No Rights as Stockholder. A Warrant does not entitle the Registered
Holder thereof to any of the rights of a stockholder of the Company, including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive rights to vote or to consent or to receive notice as stockholders in
respect of the meetings of stockholders or the election of directors of the Company or any other matter. 
 7.2. Lost, Stolen, Mutilated,
or Destroyed Warrants. If any Warrant is lost, stolen, mutilated, or destroyed, the Company and the Warrant Agent may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a mutilated
Warrant, include the surrender thereof), issue a new Warrant of like denomination, tenor, and date as the Warrant so lost, stolen, mutilated, or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company,
whether or not the allegedly lost, stolen, mutilated, or destroyed Warrant shall be at any time enforceable by anyone. 
 7.3. Reservation
of Common Stock. The Company shall at all times reserve and keep available a number of its authorized but unissued shares of Common Stock that shall be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this
Agreement. 

  
 13 

 7.4. Registration of Common Stock; Cashless Exercise at Company’s Option. 

7.4.1. Registration of the Common Stock. The Company agrees that as soon as practicable, but in no event later than fifteen
(15) Business Days after the closing of its initial Business Combination, it shall use its commercially reasonable efforts to file with the Commission a registration statement for the registration, under the Securities Act, of the shares of
Common Stock issuable upon exercise of the Warrants. The Company shall use its commercially reasonable efforts to cause the same to become effective and to maintain the effectiveness of such registration statement, and a current prospectus relating
thereto, until the expiration of the Warrants in accordance with the provisions of this Agreement. If any such registration statement has not been declared effective by the sixtieth (60th) Business Day following the closing of the Business
Combination, holders of the Warrants shall have the right, during the period beginning on the sixty-first (61st) Business Day after the closing of the Business Combination and ending upon such registration statement being declared effective by the
Commission, and during any other period when the Company shall fail to have maintained an effective registration statement covering the shares of Common Stock issuable upon exercise of the Warrants, to exercise such Warrants on a “cashless
basis,” by exchanging the Warrants (in accordance with Section 3(a)(9) of the Securities Act or another exemption) for that number of shares of Common Stock equal to the lesser of (A) the quotient obtained by dividing (x) the
product of the number of shares of Common Stock underlying the Warrants, multiplied by the excess of the “Fair Market Value” (as defined below) less the Warrant Price by (y) the Fair Market Value and (B) 0.361. Solely for purposes of
this subsection 7.4.1, “Fair Market Value” shall mean the volume-weighted average price of the Common Stock as reported during the ten (10) trading day period ending on the trading day prior to the date that
notice of exercise is received by the Warrant Agent from the holder of such Warrants or its securities broker or intermediary. The date that notice of “cashless exercise” is received by the Warrant Agent shall be conclusively determined by
the Warrant Agent. In connection with the “cashless exercise” of a Public Warrant, the Company shall, upon request, provide the Warrant Agent with an opinion of counsel for the Company (which shall be an outside law firm with securities
law experience) stating that (i) the exercise of the Warrants on a “cashless basis” in accordance with this subsection 7.4.1 is not required to be registered under the Securities Act and (ii) the shares of Common Stock
issued upon such exercise shall be freely tradable under United States federal securities laws by anyone who is not an affiliate (as such term is defined in Rule 144 (or any successor rule) under the Securities Act) of the Company and, accordingly,
shall not be required to bear a restrictive legend. Except as provided in subsection 7.4.2, for the avoidance of any doubt, unless and until all of the Warrants have been exercised or have expired, the Company shall continue to be obligated
to comply with its registration obligations under the first three sentences of this subsection 7.4.1. 
 7.4.2. Cashless Exercise
at Company’s Option. If the Common Stock is at the time of any exercise of a Public Warrant not listed on a national securities exchange such that they satisfy the definition of a “covered security” under Section 18(b)(1) of
the Securities Act, the Company may, at its option, (i) require holders of Public Warrants who exercise Public Warrants to exercise such Public Warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities
Act as described in subsection 7.4.1 and (ii) in the event the Company so elects, the Company shall (x) not be required to file or maintain in effect a registration statement for the registration, under the Securities Act, of the
Common Stock issuable upon exercise of the Warrants, notwithstanding anything in this Agreement to the contrary, and (y) use its commercially reasonable efforts to register or qualify for sale the Common Stock issuable upon exercise of the
Public Warrant under applicable blue sky laws to the extent an exemption is not available. 
 8. Concerning the Warrant Agent and Other
Matters. 
 8.1. Payment of Taxes. The Company shall from time to time promptly pay all taxes and charges that may be imposed upon
the Company or the Warrant Agent in respect of the issuance or 

  
 14 

 
delivery of shares of Common Stock upon the exercise of the Warrants, but the Company shall not be obligated to pay any transfer taxes in respect of the Warrants or such shares of Common Stock.

 8.2. Resignation, Consolidation, or Merger of Warrant Agent. 

8.2.1. Appointment of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its duties and
be discharged from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the office of the Warrant Agent becomes vacant by resignation or incapacity to act or otherwise, the Company
shall appoint in writing a successor Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment within a period of thirty (30) days after it has been notified in writing of such resignation or incapacity by
the Warrant Agent or by the holder of a Warrant (who shall, with such notice, submit his, her or its Warrant for inspection by the Company), then the holder of any Warrant may apply to the Supreme Court of the State of New York for the County of New
York for the appointment of a successor Warrant Agent at the Company’s cost. Any successor Warrant Agent, whether appointed by the Company or by such court, shall be a corporation or other entity organized and existing under the laws of the
State of New York, in good standing and having its principal office in the Borough of Manhattan, City and State of New York, and authorized under such laws to exercise corporate trust powers and subject to supervision or examination by federal or
state authority. After appointment, any successor Warrant Agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations of its predecessor Warrant Agent with like effect as if originally named as Warrant Agent
hereunder, without any further act or deed; but if for any reason it becomes necessary or appropriate, the predecessor Warrant Agent shall execute and deliver, at the expense of the Company, an instrument transferring to such successor Warrant Agent
all the authority, powers, and rights of such predecessor Warrant Agent hereunder; and upon request of any successor Warrant Agent the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for more fully and
effectually vesting in and confirming to such successor Warrant Agent all such authority, powers, rights, immunities, duties, and obligations. 

8.2.2. Notice of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give notice
thereof to the predecessor Warrant Agent and the Transfer Agent for the Common Stock not later than the effective date of any such appointment. 

8.2.3. Merger or Consolidation of Warrant Agent. Any entity into which the Warrant Agent may be merged or with which it may be
consolidated or any entity resulting from any merger or consolidation to which the Warrant Agent shall be a party shall be the successor Warrant Agent under this Agreement without any further act. 

8.3. Fees and Expenses of Warrant Agent. 

8.3.1. Remuneration. The Company agrees to pay the Warrant Agent reasonable remuneration for its services as such Warrant Agent
hereunder and shall, pursuant to its obligations under this Agreement, reimburse the Warrant Agent upon demand for all expenditures that the Warrant Agent may reasonably incur in the execution of its duties hereunder. 

8.3.2. Further Assurances. The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed,
acknowledged, and delivered all such further and other acts, instruments, and assurances as may reasonably be required by the Warrant Agent for the carrying out or performing of the provisions of this Agreement. 

8.4. Liability of Warrant Agent. 

8.4.1. Reliance on Company Statement. Whenever in the performance of its duties under this Agreement, the Warrant Agent shall deem it
necessary or desirable that any fact or matter 

  
 15 

 
be proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be
deemed to be conclusively proved and established by a statement signed by the Chief Executive Officer or a Co-Chairman of the Board of the Company and delivered to the Warrant Agent. The Warrant Agent may rely
upon such statement for any action taken or suffered in good faith by it pursuant to the provisions of this Agreement. 
 8.4.2.
Indemnity. The Warrant Agent shall be liable hereunder only for its own gross negligence, willful misconduct, fraud or bad faith. The Company agrees to indemnify the Warrant Agent and save it harmless against any and all liabilities,
including judgments, out-of-pocket costs and reasonable outside counsel fees, for anything done or omitted by the Warrant Agent in the execution of this Agreement,
except as a result of the Warrant Agent’s gross negligence, willful misconduct, fraud or bad faith. 
 8.4.3. Exclusions. The
Warrant Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the validity or execution of any Warrant (except its countersignature thereof). The Warrant Agent shall not be responsible for any breach by
the Company of any covenant or condition contained in this Agreement or in any Warrant. The Warrant Agent shall not be responsible to make any adjustments required under the provisions of Section 4 hereof or responsible for
the manner, method, or amount of any such adjustment or the ascertaining of the existence of facts that would require any such adjustment; nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization or
reservation of any shares of Common Stock to be issued pursuant to this Agreement or any Warrant or as to whether any shares of Common Stock shall, when issued, be valid and fully paid and nonassessable. 

8.5. Acceptance of Agency. The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon
the terms and conditions herein set forth and among other things, shall account promptly to the Company with respect to Warrants exercised and concurrently account for, and pay to the Company, all monies received by the Warrant Agent for the
purchase of shares of Common Stock through the exercise of the Warrants. 
 8.6. Waiver. The Warrant Agent has no right of set-off or any other right, title, interest or claim of any kind (“Claim”) in, or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement,
dated as of the date hereof, by and between the Company and Continental Stock Transfer & Trust Company as trustee thereunder) and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust
Account for any reason whatsoever. The Warrant Agent hereby waives any and all Claims against the Trust Account and any and all rights to seek access to the Trust Account. 

9. Miscellaneous Provisions. 

9.1. 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. 
 9.2. Notices. Any notice, statement or demand authorized by
this Agreement to be given or made by the Warrant Agent or by the holder of any Warrant to or on the Company shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service
within five (5) days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Company with the Warrant Agent), as follows: 

TdMY Technology Group, Inc. 
 1180
North Town Center Drive, Suite 100 
 Las Vegas, Nevada 89144 

  
 16 

 Attention: Niccolo de Masi, Chief Executive Officer 

with a copy to: 
 Cleary Gottlieb
Steen & Hamilton LLP 
 One Liberty Plaza 

New York, NY 10006 
 Attn: Adam
Brenneman 
 Email: abrenneman@cgsh.com 
 Any
notice, statement or demand authorized by this Agreement to be given or made by the holder of any Warrant or by the Company to or on the Warrant Agent shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by
certified mail or private courier service within five (5) days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Warrant Agent with the Company), as follows: 

Continental Stock Transfer & Trust Company 

One State Street, 30th Floor 
 New
York, NY 10004 
 Attention: Compliance Department 

in each case, with copies to: 

Cleary Gottlieb Steen & Hamilton LLP 

One Liberty Plaza 
 New York, NY
10006 
 Attn: Adam Brenneman 

Email: abrenneman@cgsh.com 
 and

 Ropes & Gray LLP 

1211 Avenue of the Americas 
 New
York, NY 10036 
 Attn: Paul D. Tropp, 

            Christopher J. Capuzzi 

Email: Paul.Tropp@ropesgray.com 

            Christopher.Capuzzi@ropesgray.com 

9.3. Applicable Law and Exclusive Forum. The validity, interpretation, and performance of this Agreement and of the Warrants shall be
governed in all respects by the laws of the State of New York. The Company hereby agrees that any action, proceeding or claim against it 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 forum for any such action, proceeding or claim. The Company hereby waives any
objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Notwithstanding the foregoing, the provisions of this paragraph will not apply to suits brought to enforce any liability or duty created by the Exchange
Act or any other claim for which the federal district courts of the United States of America are the sole and exclusive forum. Any person or entity purchasing or otherwise acquiring any interest in the Warrants shall be deemed to have notice of and
to have consented to the forum provisions in this Section 9.4. If any action, the subject matter of which is within the scope the forum provisions above, is filed in a court other than a court located within the State of
New York or the United States District Court for the Southern District of New York (a “foreign action”) 

  
 17 

 
in the name of any warrant holder, such warrant holder shall be deemed to have consented to: (x) the personal jurisdiction of the state and federal courts located within the State of New
York or the United States District Court for the Southern District of New York in connection with any action brought in any such court to enforce the forum provisions (an “enforcement action”), and (y) having service of
process made upon such warrant holder in any such enforcement action by service upon such warrant holder’s counsel in the foreign action as agent for such warrant holder. 

9.4. Persons Having Rights under this Agreement. Nothing in this Agreement shall be construed to confer upon, or give to, any person,
corporation or other entity other than the parties hereto and the Registered Holders of the Warrants any right, remedy, or claim under or by reason of this Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. All
covenants, conditions, stipulations, promises, and agreements contained in this Agreement shall be for the sole and exclusive benefit of the parties hereto and their successors and assigns and of the Registered Holders of the Warrants. 

9.5. 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 such holder’s Warrant for inspection by the Warrant Agent.

 9.6. 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. 

9.7. 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. 
 9.8. Amendments. This Agreement may be amended by the parties hereto without the consent of any
Registered Holder for the purpose of (i) curing any ambiguity or to correct any defective provision or mistake, including to conform the provisions hereof to the description of the terms of the Warrants and this Agreement set forth in the
Prospectus, (ii) amending the definition of “Ordinary Cash Dividend” as contemplated by and in accordance with the second sentence of subsection 4.1.2 or (iii) adding or changing any provisions with respect to matters or
questions arising under this Agreement as the parties may deem necessary or desirable and that the parties deem shall not adversely affect the rights of the Registered Holders under this Agreement. All other modifications or amendments, including
any modification or amendment to increase the Warrant Price or shorten the Exercise Period and any amendment to the terms of only the Private Placement Warrants, shall require the vote or written consent of the Registered Holders of 50% of the
then-outstanding Public Warrants and, solely with respect to any amendment to the terms of the Private Placement Warrants or any provision of this Agreement with respect to the Private Placement Warrants, 50% of the then-outstanding Private
Placement Warrants. Notwithstanding the foregoing, the Company may lower the Warrant Price or extend the duration of the Exercise Period pursuant to Sections 3.1 and 3.2, respectively, without the consent of the Registered Holders.

 9.9. 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. 
  

			
	Exhibit A	 	Form of Warrant Certificate
		
	Exhibit B	 	Legend — Private Placement Warrants

  
 18 

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

			
	TDMY TECHNOLOGY GROUP, INC.
		
	By:	 	
                     
        

		 	Name: Niccolo de Masi
		 	Title: Chief Executive Officer
	
	CONTINENTAL STOCK TRANSFER & TRUST COMPANY as Warrant Agent
		
	By:	 	
                     
            

		 	Name:
		 	Title: [Vice President]

 [Signature Page to Warrant Agreement] 

 EXHIBIT A 

[FACE] 
 Number 

Warrants 
 THIS WARRANT
SHALL BE VOID IF NOT EXERCISED PRIOR TO 
 THE EXPIRATION OF THE EXERCISE PERIOD PROVIDED FOR 

IN THE WARRANT AGREEMENT DESCRIBED BELOW 

TdMY Technology Group, Inc. 

Incorporated Under the Laws of the State of Delaware 

CUSIP [•] 
 Warrant
Certificate 
 This Warrant Certificate certifies that [    ], or registered assigns, is the
registered holder of [    ] warrant(s) (the “Warrants” and each, a “Warrant”) to purchase shares of Class A common stock, $0.0001 par value
(“Class A Common Stock”), of TdMY Technology Group, Inc., a Delaware corporation (the “Company”). Each Warrant entitles the holder, upon exercise during the period set
forth in the Warrant Agreement referred to below, to receive from the Company that number of fully paid and nonassessable shares of Class A Common Stock as set forth below, at the exercise price (the “Warrant Price”) as
determined pursuant to the Warrant Agreement, payable in lawful money (or through “cashless exercise” as provided for in the Warrant Agreement) of the United States of America upon surrender of this Warrant Certificate and
payment of the Warrant Price at the office or agency of the Warrant Agent referred to below, subject to the conditions set forth herein and in the Warrant Agreement. Defined terms used in this Warrant Certificate but not defined herein shall have
the meanings given to them in the Warrant Agreement. 
 Each whole Warrant is initially exercisable for one fully paid and non-assessable share of Class A Common Stock. Fractional shares shall not be issued upon exercise of any Warrant. If, upon the exercise of Warrants, a holder would be entitled to receive a fractional interest
in a share of Class A Common Stock, the Company shall, upon exercise, round down to the nearest whole number the number of shares of Class A Common Stock to be issued to the Warrant holder. The number of shares of Class A Common Stock
issuable upon exercise of the Warrants is subject to adjustment upon the occurrence of certain events as set forth in the Warrant Agreement. 

The initial Warrant Price per share of Class A Common Stock for any Warrant is equal to $11.50 per share. The Warrant Price is subject to
adjustment upon the occurrence of certain events as set forth in the Warrant Agreement. 
 Subject to the conditions set forth in the
Warrant Agreement, the Warrants may be exercised only during the Exercise Period and to the extent not exercised by the end of such Exercise Period, such Warrants shall become void. The Warrants may be redeemed, subject to certain conditions, as set
forth in the Warrant Agreement. 
 Reference is hereby made to the further provisions of this Warrant Certificate set forth on the reverse
hereof and such further provisions shall for all purposes have the same effect as though fully set forth at this place. 

  

 This Warrant Certificate shall not be valid unless countersigned by the Warrant Agent, as
such term is used in the Warrant Agreement. This Warrant Certificate shall be governed by and construed in accordance with the internal laws of the State of New York. 

 

			
	TDMY TECHNOLOGY GROUP, INC.
		
	By:	 	
                     
        

		 	Name:
		 	Title: Authorized Signatory
	
	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent
		
	By:	 	
                     
    

		 	Name:
		 	Title:

 [Form of Warrant Certificate] 

[Reverse] 
 The Warrants
evidenced by this Warrant Certificate are part of a duly authorized issue of Warrants entitling the holder on exercise to receive [ ] shares of Class A Common Stock and are issued or to be issued pursuant to a Warrant Agreement dated as of [ ],
2021 (the “Warrant Agreement”), duly executed and delivered by the Company to Continental Stock Transfer & Trust Company, a New York corporation, as warrant agent (the “Warrant Agent”), which
Warrant Agreement is hereby incorporated by reference in and made a part of this instrument and is hereby referred to for a description of the rights, limitation of rights, obligations, duties and immunities thereunder of the Warrant Agent, the
Company and the holders (the words “holders” or “holder” meaning the Registered Holders or Registered Holder, respectively) of the Warrants. A copy of the Warrant Agreement may be obtained by the
holder hereof upon written request to the Company. Defined terms used in this Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant Agreement. 

Warrants may be exercised at any time during the Exercise Period set forth in the Warrant Agreement. The holder of Warrants evidenced by this
Warrant Certificate may exercise them by surrendering this Warrant Certificate, with the form of Election to Purchase set forth hereon properly completed and executed, together with payment of the Warrant Price as specified in the Warrant Agreement
(or through “cashless exercise” as provided for in the Warrant Agreement) at the principal corporate trust office of the Warrant Agent. In the event that upon any exercise of Warrants evidenced hereby the number of Warrants
exercised shall be less than the total number of Warrants evidenced hereby, there shall be issued to the holder hereof or his, her or its assignee, a new Warrant Certificate evidencing the number of Warrants not exercised. 

Notwithstanding anything else in this Warrant Certificate or the Warrant Agreement, no Warrant may be exercised unless at the time of exercise
(i) a registration statement covering the issuance of the shares of Class A Common Stock to be issued upon exercise is effective under the Securities Act and (ii) a prospectus thereunder relating to the shares of Class A Common
Stock is current, except through “cashless exercise” as provided for in the Warrant Agreement. 
 The Warrant Agreement
provides that upon the occurrence of certain events the number of shares of Class A Common Stock issuable upon exercise of the Warrants set forth on the face hereof may, subject to certain conditions, be adjusted. If, upon exercise of a
Warrant, the holder thereof would be entitled to receive a fractional interest in a share of Class A Common Stock, the Company shall, upon exercise, round down to the nearest whole number of shares of Class A Common Stock to be issued to
the holder of the Warrant. 
 Warrant Certificates, when surrendered at the principal corporate trust office of the Warrant Agent by the
Registered Holder thereof in person or by legal representative or 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 evidencing in the aggregate a like number of Warrants. 
 Upon due
presentation for registration of transfer of this Warrant Certificate at the office 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(s) in exchange for this Warrant Certificate, subject to the limitations provided in the Warrant Agreement, without charge except for any tax or other governmental charge imposed in connection therewith. 

The Company and the Warrant Agent may deem and treat the Registered Holder(s) hereof as the absolute owner(s) 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 holder(s) hereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be
affected by any notice to the contrary. Neither the Warrants nor this Warrant Certificate entitles any holder hereof to any rights of a stockholder of the Company. 

 Election to Purchase 

(To Be Executed Upon Exercise of Warrant) 

The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, to receive [ ] shares of
Class A Common Stock and herewith tenders payment for such shares of Class A Common Stock to the order of TdMY Technology Group, Inc. (the “Company”) in the amount of $[ ] in accordance with the terms hereof.
The undersigned requests that a certificate for such shares of Class A Common Stock be registered in the name of [ ], whose address is [ ] and that such shares of Class A Common Stock be delivered to [ ] whose address is
[ ]. If said [ ] number of shares of Class A Common Stock is less than all of the shares of Class A Common Stock purchasable hereunder, the undersigned requests that a new Warrant Certificate representing the remaining balance of
such shares of Class A Common Stock be registered in the name of [ ], whose address is [ ] and that such Warrant Certificate be delivered to [ ], whose address is [ ]. 

In the event that the Warrant has been called for redemption by the Company pursuant to Section 6.2 of the Warrant
Agreement and a holder thereof elects to exercise its Warrant pursuant to a Make-Whole Exercise, the number of shares of Class A Common Stock that this Warrant is exercisable for shall be determined in accordance with subsection 3.3.1(c)
or Section 6.2 of the Warrant Agreement, as applicable. 
 In the event that the Warrant is a Private
Placement Warrant that is to be exercised on a “cashless” basis pursuant to subsection 3.3.1(c) of the Warrant Agreement, the number of shares of Class A Common Stock that this Warrant is exercisable for shall be determined in
accordance with subsection 3.3.1(c) of the Warrant Agreement. 
 In the event that the Warrant is to be exercised on a
“cashless” basis pursuant to Section 7.4 of the Warrant Agreement, the number of shares of Class A Common Stock that this Warrant is exercisable for shall be determined in accordance with
Section 7.4 of the Warrant Agreement. 
 In the event that the Warrant may be exercised, to the extent allowed by
the Warrant Agreement, through cashless exercise (i) the number of shares of Class A Common Stock that this Warrant is exercisable for would be determined in accordance with the relevant section of the Warrant Agreement which allows for
such cashless exercise and (ii) the holder hereof shall complete the following: The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, through the cashless exercise provisions of the Warrant
Agreement, to receive shares of Class A Common Stock. If said number of shares is less than all of the shares of Class A Common Stock purchasable hereunder (after giving effect to the cashless exercise), the undersigned requests that a new
Warrant Certificate representing the remaining balance of such shares of Class A Common Stock be registered in the name of [ ], whose address is [ ] and that such Warrant Certificate be delivered to [ ], whose address is
[ ]. 
 [Signature Page Follows] 

 Date: [    ], 20[    ] 

 

					
		 		 	(Signature)
			
		 	                	 	(Address)
		 		 	  

		 		 	(Tax Identification Number)
			
	Signature Guaranteed:	 		 	
	  
	 		 	

 THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND
LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15 UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED). 

 EXHIBIT B 

LEGEND 
 THE SECURITIES REPRESENTED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND
ANY APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, SUBJECT TO ANY ADDITIONAL LIMITATIONS ON TRANSFER DESCRIBED IN THE LETTER AGREEMENT BY AND AMONG TDMY TECHNOLOGY GROUP, INC. (THE
“COMPANY”), TDMY SPONSOR, LLC AND THE OTHER PARTIES THERETO, THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD OR TRANSFERRED PRIOR TO THE DATE THAT IS THIRTY (30) DAYS AFTER THE DATE UPON WHICH THE COMPANY
COMPLETES ITS INITIAL BUSINESS COMBINATION (AS DEFINED IN SECTION 3 OF THE WARRANT AGREEMENT REFERRED TO HEREIN) EXCEPT TO A PERMITTED TRANSFEREE (AS DEFINED IN SECTION 2 OF THE WARRANT AGREEMENT) WHO AGREES IN WRITING WITH THE COMPANY
TO BE SUBJECT TO SUCH TRANSFER PROVISIONS. 
 SECURITIES EVIDENCED BY THIS CERTIFICATE AND SHARES OF CLASS A COMMON STOCK OF THE COMPANY ISSUED UPON
EXERCISE OF SUCH SECURITIES SHALL BE ENTITLED TO REGISTRATION RIGHTS UNDER A REGISTRATION AGREEMENT TO BE EXECUTED BY THE COMPANY. 
 NO. [ ] WARRANTExhibit 10.1

 

OPERATING AGREEMENT OF

JDI-CUMBERLAND INLET, LLC

 

THIS OPERATING AGREEMENT (this
“Agreement” or “Operating Agreement”) is made and entered into as of the 24 day of June, 2021,
by and between JACOBY DEVELOPMENT, INC., a Georgia corporation (“JDI”) (hereinafter referred to as the “Manager”),
SGB DEVELOPMENT CORP., a Delaware corporation (“SG DEV”) (hereinafter, together with Manager, referred to individually
as a “Member” and, collectively with any additional Members that may be admitted to the Company, as “Members”)
and JDI-CUMBERLAND INLET, LLC (the “Company”).

 

RECITALS:

 

WHEREAS, JDI formed
the Company by filing Articles of Organization with the Secretary of State of Georgia on August 11, 2020;

 

WHEREAS, no prior
operating agreement of the Company has been entered into by JDI; and

 

WHEREAS, no membership
interests in the Company have been issued to any person or entity prior to the date hereof; and

 

WHEREAS, as of
the date hereof and immediately prior to the execution of this Agreement JDI is the sole member of the Company; and

 

WHEREAS, the Company
is admitting SG DEV as a member and entering into this Agreement in connection therewith;

 

NOW THEREFORE,
in consideration of the mutual covenants and agreements hereinafter contained, Ten Dollars ($10.00) and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto desire to set forth herein their respective rights, duties
and responsibilities with respect to the Company and, therefore, hereby agree as follows:

 

ARTICLE I 

 DEFINITIONS

 

The following terms used
in this Operating Agreement shall have the following meanings (unless otherwise expressly provided herein):

 

“Adjusted
Capital Account.” With respect to each Owner, the balance of such Owner’s Capital Account as of the end of the relevant
Fiscal Year or other period, after giving effect to the following adjustments:

 

(i) Credit
to such Capital Account any amounts which such Owner is deemed to be obligated to restore pursuant to the penultimate sentences of Regulations
Sections 1.704-2(g)(1) and 1.704-2(i)(5); and

 

    1

     

    

 

(ii) Debit
to such Capital Account the items described in Sections 1.704-1(b)(2)(ii) (d)(4), 1.704-1(b)(2)(ii)(d)(5), and 1.704-1(b)(2)(ii)(d)(6)
of the Regulations.

 

The foregoing definition of Adjusted
Capital Account is intended to comply with the provisions of Section 1.704-1(b)(2)(ii)(d) of the Regulations and shall be interpreted
consistently therewith.

 

“Affiliate.”
With respect to any Person, (i) in the case of an individual, any Relative of such Person, (ii) any officer, director, trustee, partner,
member, manager, employee or holder of fifty percent (50%) or more of any class of the voting securities of or equity interest in such
Person, (iii) any corporation, partnership, limited liability company, limited liability partnership, trust or other entity controlling,
controlled by or under common control with such Person.

 

“Articles
of Organization.” The Articles of Organization of JDI-CUMBERLAND INLET, LLC, as filed with the Secretary of State of the State
of Georgia, as the same may be amended from time to time.

 

“BBA
Partnership Audit Rules.” Mean Sections 6221 through 6241 of the Code, as amended by the Bipartisan Budget Act of 2015, including
any other Code provisions with respect to the same subject matter as Sections 6221 through 6241 of the Code, and any regulations promulgated
or proposed under any such Sections and any administrative guidance with respect thereto.

 

“Budget.”
shall mean the annual operating budget for the Company approved by the Manager and presented to the Members.

 

“Capital Account.”
An account maintained with respect to each Owner in accordance with the following:

 

(i) An
Owner’s Capital Account shall be credited for the Owner’s Capital Contributions and the Profits and items of income and gain
allocated to the Owner pursuant to this Agreement, and shall be debited for distributions to the Owner pursuant to this Agreement and
the Losses and items of loss and deduction allocated to the Owner pursuant to this Agreement.

 

(ii) In
the event any Economic Interest is transferred in accordance with the terms of this Agreement, the transferee shall succeed to the Capital
Account of the transferor to the extent that it relates to the transferred Economic Interest.

 

(iii) If
the net amount with regard to any Owner’s Capital Account is a credit, such amount shall be referred to as a positive Capital Account
balance; if the net amount is a debit, a negative Capital Account balance.

 

The foregoing
provisions and other provisions of this Agreement relating to the maintenance of Capital Accounts are intended to comply with Section
1.704-1(b) of the Regulations and shall be interpreted and applied in a manner consistent therewith.

 

    2

     

    

 

“Capital
Contribution.” Any contribution by an Owner to the capital of the Company pursuant to this Operating Agreement, in cash or property,
whenever made. The amount of any Capital Contribution made by an Owner other than in cash, shall be the net fair market value of the property,
as determined by the Members.

 

“Code.”
The Internal Revenue Code of 1986, as may be amended from time to time. All references herein to specific sections of the Code shall
be deemed to refer also to any successor provisions of succeeding law.

 

“Company.” JDI-CUMBERLAND
INLET, LLC, a Georgia limited liability company.

 

“Economic
Interest.” A Member’s or Economic Interest Holder’s share of one or more of the Company’s Profits, Losses
and rights to distributions of the Company’s Net Cash Available for Distribution pursuant to this Operating Agreement and the Georgia
Act, but not any right to vote on, consent to, approve or otherwise participate in any decision of the Members.

 

“Economic Interest Holder.”
The owner of an Economic Interest who is not a Member.

 

“Entity.”
Any general partnership, limited liability partnership, limited partnership, limited liability company, corporation, joint venture, trust,
business trust, cooperative or association or any foreign trust or foreign business organization.

 

“Fiscal
Year.” The Company’s fiscal year, which shall be the calendar year, unless otherwise agreed by the Members.

 

“Georgia
Act.” The Georgia Limited Liability Company Act (O.C.G.A. §14-11-100, et seg.), as may be amended from time to time.

 

“Majority Interest.”
Members owning 51% of the outstanding Ownership Percentages.

 

“Manager.”
The party or parties appointed a Manager pursuant to Section 5.1 below. The Company may have more than one Manager. The initial manager
shall be Jacoby Development, a Delaware limited liability company.

 

“Member.”
Each Person who executes a counterpart of this Operating Agreement as a Member and each Person who may become a Member hereafter.

 

“Member Loan.” A
loan made by a Member pursuant to Section 8.1(d) below.

 

“Membership Interest.”
A Member’s entire interest in the Company, including such

Member’s Economic Interest and
Voting Interest.

 

“Net
Cash Available for Distribution.” The gross cash proceeds from Company operations, less the portion thereof used to pay or establish
reserves for all Company working capital purposes, and other costs or expenses incident to the ownership or operation of the Company’s
business, all as determined by the Managers. “Net Cash Available for Distribution” shall not be reduced by depreciation, amortization,
cost recovery deductions, or similar allowances, but shall be increased by any reductions of reserves previously established pursuant
to the first sentence of this paragraph.

 

    3

     

    

 

“Operating
Agreement.” This Operating Agreement as originally executed and as may be amended from time to time in accordance with the terms
hereof

 

“Outstanding
Capital Contribution.” A Member’s total Capital Contributions less the cumulative distributions to such Member pursuant
to Section 9.1(b).

 

“Owner.”
Any Member or any Economic Interest Holder. “Owners” means, collectively, all Members and Economic Interest Holders.

 

“Ownership
Percentage.” The Ownership Percentage of each Member as set forth on the attached Exhibit “A”. In the event
all or any portion of an Economic Interest is transferred by an Owner in accordance with the provisions of this Operating Agreement, the
transferee shall succeed to the Ownership Percentage of the transferor to the extent it relates and corresponds to the transferred Economic
Interest. For purposes of the provisions hereof relating to actions taken or approved by Members, including voting, written consents or
other approvals, Ownership Percentages held by Members shall not be taken into account.

 

“Person.”
Any association, corporation, joint stock company, estate, general partnership, limited association, limited liability company, joint
venture, limited partnership, natural person, real estate investment trust, business trust or other trust, custodian, nominee or any other
individual or entity in its own or any representative capacity.

 

“Profits”
and “Losses.” For each Fiscal Year, an amount equal to the Company’s taxable income or loss for such Fiscal
Year, determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss, or deduction required to be
stated separately pursuant to Code Section 703(a)(l) shall be included in taxable income or loss), with the following adjustments:

 

(i) Any
income of the Company that is exempt from federal income tax and not otherwise taken into account in computing Profits and Losses in accordance
herewith shall be added to such taxable income or loss;

 

(ii) Any
expenditures of the Company described in Section 705(a)(2)(B) of the Code or treated as 705(a)(2)(B) expenditures pursuant to Section
1.704-l(b)(2)(iv)(i) of the Regulations, and not otherwise taken into account in computing Profits and Losses in accordance herewith shall
be subtracted from such taxable income or loss;

 

(iii) In
the event the Members determine to adjust the book value of Company property pursuant to Section 1.704-1(b)(2)(iv)(f) of the Regulations,
the amount of such adjustment shall be added to (to the extent it results in an increase in the book value of the property) or subtracted
from (to the extent it results in a decrease in the book value of the property) such taxable income or loss;

 

(iv) In
the event any property is reflected on the books and records of the Company at an amount which differs from the property’s adjusted
basis for federal income tax purposes, then Profits and Losses shall be determined with respect to items of income, gain, loss or deduction
attributable to such property in accordance with Section 10.6 hereof; and

 

    4

     

    

 

(v)  Any
items which are specially allocated pursuant to Sections 10.3, 10.4 and

 

10.6 hereof shall not be taken into
account in computing Profits and Losses.

 

If the Company’s
taxable income or taxable loss for a Fiscal Year, as adjusted in the manner provided above, is a positive amount, such amount shall be
the Company’s Profit for such Fiscal Year; and if negative, such amount shall be the Company’s Loss for such Fiscal Year.

 

“Project”
shall mean the Project Land together with the improvements developed thereon as more fully described in the Executive Summary attached
hereto as Exhibit B and made a part hereof.

 

“Project
Land.” That certain piece of real property consisting of approximately 1,268 Acres of land in the City of St. Mary’s Georgia,
of which approximately 352 Acres are developable.

 

“Relative.”
Any member of the immediate family of an individual Member (parents, children, grandchildren and/or spouse), or any trust for the
primary benefit of a Member, or the aforesaid members of the immediate family of such individual Member.

 

“Service Provider”
means, any Person who provides services to the Company or any Person controlled by the Company, whether an Affiliate of the Managers or
otherwise, as may be designated or selected from time to time as such by the Managers, in their sole and absolute discretion, and to which
the Company may pay Service Provider Fees in accordance with Section 6.07(b), in each case for so long as such Person acts in such capacity.

 

“Treasury
Regulations” or “Regulations.” The Federal Income Tax Regulations promulgated under the Code, as such regulations
may be amended from time to time (including corresponding provisions of succeeding regulations).

 

“Voting
Interest” A Member’s right to participate in the management of the business and affairs of the Company, including the
right to vote on, consent to, or otherwise participate in any decision or action of or by the Members granted pursuant to this Operating
Agreement or the Georgia Act. For purposes of the provisions hereof relating to actions taken or to be taken or approval by Members, only
Voting Interests shall be taken into account. In the event all or any portion of an Economic Interest is transferred by an Owner in accordance
with the provisions of this Operating Agreement, the transferee shall not succeed to the Voting Interest of the transferor; any transferee
of an Economic Interest who has not been admitted as a Member shall have no Voting Interest.

 

    5

     

    

 

ARTICLE II

FORMATION
OF COMPANY AND INVESTMENTREPRESENTATIONS

 

2.1  Formation.
On August 11, 2020 the Company was formed as a Georgia Limited Liability Company by executing and delivering the Articles of Organization
to the Secretary of State of Georgia in accordance with the provisions of the Georgia Act.

 

2.2  Name.
The name of the Company is JDI-CUMBERLAND INLET, LLC

 

2.3  Principal
Place of Business. The principal place of business of the Company within the State of Georgia is 8200 Roberts Drive, Suite 200,
Atlanta, Georgia 30350. The Company may locate its place(s) of business and registered office at any other place or places as the Members
may deem advisable from time to time.

 

2.4  Registered
Agent and Registered Office. The Company’s registered agent is Jacoby Development. Inc. and its registered office
is the office of its registered agent at 8200 Robert Drive, Suite 200, Atlanta, Georgia 30350. The registered agent and registered office
may be changed from time to time by filing the name of the new registered agent and/or the address of the new registered office with the
Secretary of State of the State of Georgia pursuant to the Georgia Act.

 

2.5 Term.
The term of the Company commenced on the date the Articles of Organization were filed with the Secretary of State of the State of Georgia
and shall continue until dissolved in accordance with the provisions of this Operating Agreement or the Georgia Act.

 

2.6 Investment
Purpose. Each Member acknowledges that the interests in the Company, including each Member’s Ownership Interest, have not
been registered under the Georgia Securities Act of 1973, as amended (“Georgia Securities Act”), any other state securities
or blue sky laws or the Securities Act of 1933, as amended (“Federal Securities Act”). To the extent the interests
are deemed to constitute a “security”, such interests have been issued in reliance on Paragraph (13) of Section 10-5-9 of
the Georgia Securities Act and the statutory exemption under the Federal Securities Act relating to transactions not involving a public
offering (Section 4(2)), and each Member acknowledges that reliance on such exemptions is based in part on the representations made by
such Member in this Section 2.6. The interests in the Company may not be sold or transferred except in a transaction which is exempt under
the Georgia Securities Act and the Federal Securities Act, or pursuant to an effective registration under the Georgia Securities Act,
the Federal Securities Act and any other applicable state securities laws. Each Member hereby represents and warrants that its interest
in the Company is being acquired for investment purposes only and without the intent of participating directly or indirectly in a distribution
thereof.

 

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ARTICLE III

BUSINESS
OF COMPANY

 

 3.1 The business purpose of the Company shall be limited to:

 

(a) acquiring and owning
the Project Land;

 

(b) developing
the improvements on the Project Land, including a marina, towncenter, apartments and single family units, townhomes, commercial, retail
and lodging buildings/structures, eco-tourism park, inclusive of camping yurts, cabins and cottages all utilizing modular structures designed,
fabricated and installed by SG Echo pursuant to a Service Provider agreement substantially in the form of Exhibit C;

 

(c)
developing, operating, improving, financing, refinancing, recapitalizing, leasing, managing, commercially exploiting and eventually
selling the Project, and otherwise dealing with the Project for the benefit of the Company;

 

(d) engaging in
all activities necessary, customary, convenient, or incidental to any of the foregoing.

 

ARTICLE IV

NAMES AND ADDRESSES OF MEMBERS

 

 4.1 The names of the Members are as follows:

 

Jacoby Development, Inc.

SGB Development Corp.

 

The addresses of the Members are set forth next to their
signatures below.

 

ARTICLE V

 MANAGEMENT

 

5.1 Manager;
Tenure and Qualifications. The Company initially shall have one Manager to be designated by JDI. JDI designates itself as the
initial Manager (the “Manager”). A Manager need not be a resident of the State of Georgia or a Member of the Company.
A Manager of the Company may resign at any time by giving written notice to the Members. The resignation of a Manager shall take effect
upon receipt of notice thereof or at such later time as shall be specified in such notice. Unless otherwise specified in the notice thereof,
the acceptance of such resignation shall not be necessary to make it effective. A Manager may be removed only by the Member that designated
that Manager. If a Manager resigns or is removed, the Member that designated that Manager shall designate a successor Manager to take
the place of the Manager that resigned or was removed. The resignation or removal of a Manager that is a Member shall not affect the rights
of the Member, as a Member, and shall not constitute a withdrawal of the Member from the Company.

 

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5.2 Management.
Subject to the terms of this Agreement, including but not limited to Section 5.3, the property, business and affairs of the Company will
be managed, and the conduct of its day-to-day business will be controlled by the Manager, subject to the specific delegation of responsibilities
described in subsections (c) through (g) below. Except as otherwise provided hereunder, the Manager shall have all of the rights, powers
and obligations of a class of managers as provided in the Act and as otherwise provided by law. Without limiting the generality of the
foregoing, the Manager, after consulting with the other Members, shall have the following powers, and the Manager is authorized on behalf
of the Company to do or cause to be done the following:

 

		(i)	to acquire the Project Land, including arranging the financing therefor;

 

		(ii)	to supervise and manage the Project, including arranging the financing therefor;

 

		(iii)	to supervise the property, business and affairs of the Company and hire, on behalf of the Company, such
employees, consultants, professionals or other personnel as may be necessary or desirable in connection therewith, provided that such
actions are in accordance with the Budget, from time to time;

 

		(iv)	to cause the Company to enter into such Service Provider Agreements with a general contractor for the
Project that may provide for subcontracting to an Affiliate of the Members, provided that such general and subcontracting agreements shall
be at arms-length;

 

		(v)	to make any and all filings on behalf of the Company and its Members as it shall deem necessary, including,
without limitation, the filing of such documents, forms and requests for exemption as may be required pursuant to federal and state securities
laws;

 

		(vi)	to make such filings with governmental and other authorities and to take any and all other actions as
may be necessary to maintain the limited liability of the Members of the Company;

 

		(vii)	to establish and maintain bank accounts, including savings, checking accounts and demand deposit accounts,
and cash management accounts;

 

		(viii)	to cause the Company to enter into such Service Provider Agreements with vendors or consultants, including
SG DEV. or its Affiliates;

 

		(ix)	to employ accountants, legal counsel or other experts to perform services for the Company and to compensate
them from Company funds;

 

		(x)	incur indebtedness or arrange financing for or on behalf of the Company, in order to pay expenses of the
Company Expenses and/or to invest in the Project and fund the Company’s operations; and

 

		(xi)	to take such actions that the Manager deems necessary or advisable, in its reasonable discretion and business
judgment, to execute, deliver and perform the Company’s rights and obligations.

 

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5.3 Major Decisions.
Notwithstanding Section 5.2, or any power or authority granted the Managing Member under the Act, the Manager may not make any decision,
take any action, or intentionally permit occurrence of an event specified below (each, a “Major Decision”) without
first obtaining the written consent of the other Members, which consent shall not be unreasonably withheld or delayed:

 

		(i)	amend or modify this Agreement the result of which is to adversely affect and/or impair SG DEV’s
rights, benefits and interests hereunder;

 

		(ii)	initiate or conduct any non-budgeted or non-ordinary course expenses, capital or emergency costs in excess
of $50,000 in cost per occurrence, except for (i) repairs which if not made promptly could reasonably be expected to result in material
damage to the Project or harm to health, safety or welfare of occupants, guests or the public and (ii) repairs resulting from a casualty
whereby the repairs are fully covered by insurance (except for normal and customary deductibles) and are substantially in accordance with
the original plans and specifications for the Project, except as adjusted to comply with requirements of law and any loan documents;

 

		(iii)	cause or permit the Company or any of its respective Affiliates to engage in any activity with respect to
the Company, the Project, and/or the Company Business that is not consistent with the purpose of the Company as set forth in Section 3.1;

 

		(iv)	enter into purchase and sale or other transaction agreements on behalf of the Company to make or dispose of the
Project, or assets of the Company or merger or effect another form of corporate transaction;

 

		(v)	cause or permit a change to the tax or accounting methodology utilized by the Company;

 

		(vi)	modify or waive any provision of the annual Budget of the Company;

 

		(vii)	cause a distribution of property other than cash to the Members;

 

		(viii)	cause the Company to pay the Manager a fee for its services as Manager of the Company;

 

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		(ix)	merge, consolidate, convert, or otherwise reorganize the Company with or into another Person, re-domesticate,
or otherwise change the state or other jurisdiction where the Company is organized, or enter into any share or unit exchange (or similar
transaction);

 

		(x)	hypothecate, pledge, encumber or grant any security interest in a material portion of the assets of the
Company;

 

		(xi)	convert or reorganize the Company into another entity form (including a corporation) or cause the Company
to be taxed as a corporation for federal income tax purposes;

 

		(xii)	except as otherwise provided in this Agreement, enter into, amend, restate, substitute, or modify, or make
any other decision with respect to, any contract, agreement, transaction, or other arrangement between the Company and the Manager or
any Member (or any Affiliate of a Manager or any Member), in a manner that is not pursuant to terms and conditions that are substantially
the same as those that would be available on an arms-length basis with third parties other than the Manager, Member or Affiliate;

 

		(xv)	making or permitting the Company to make, any loans or advances to or guaranties for the benefit of any
Person (other than a wholly owned subsidiary of the Company);
	 	 	 
	 	(xvi)	approve
of the appointment of a Manager to succeed JDI;
	 	 	 
	 	(xviii)	make
any decision to dissolve and liquidate the Company;

 

		(xix)	admit new members to or issue economic interests in the Company in accordance with Section 8.8, provided
(i) the rights, privileges, benefits and equity valuation offered by the Manager are not superior to those of SG DEV hereunder and (ii)
SG DEV’s Membership Interest is not diluted by reason of such admission.
	 	 	 
	 	(xx)	increase
or decrease the number of Managers; and

 

		(xxi)	amend, modify or make any additional acquisitions or expand the scope of the Project.

 

Unless authorized to do so herein or otherwise
by the Members, no attorney-in-fact, employee or other agent of the Company shall have any power or authority to bind the Company in any
way, to pledge its credit or to render it liable pecuniarily for any purpose. No Member shall have any power or authority to bind the
Company unless the Member has been authorized by the Manager to act as an agent of the Company in accordance with the previous sentence.

 

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5.4  Non-Exclusive
Duty. Except as specifically provided herein, the Manager shall not be required to manage the Company as the Manager’s
sole and exclusive function and any the Manager may have other business interests and may engage in other activities in addition to those
relating to the Company. Neither the Company nor any Member shall have any right, pursuant to this Operating Agreement or otherwise,
to share or participate in such other investments or activities of a Member or a Manager or to the income or proceeds derived therefrom.
No Member or Manager shall incur liability to the Company or to any of the Members as a result of engaging in any other business or ventures.

 

5.5  Limitation
on Liability of Manager: Indemnification.

 

(a)  A
Manager shall not be liable to the Company or to any Member for good faith negligence or for honest mistakes of judgment or losses or
liabilities due to such good faith mistakes or due to the negligence, dishonesty, unlawful acts or bad faith of any employee, broker or
other agent, accountant, attorney, other professional or person employed by the Company provided that such person was selected, engaged,
retained and supervised by such Manager with reasonable care. A Manager shall have no liability to the Company or to any Member for any
loss suffered by the Company which arises out of any action or inaction of the Manager if, prior thereto, the Manager, in good faith,
determined that such course of conduct was in, and not opposed to, the best interests of the Company and such course of conduct did not
constitute willful misconduct or a material breach of this Agreement or gross negligence.

 

(b)  A
Manager, its members, managers, Members, agents, employees and representatives shall be indemnified by the Company to the fullest extent
permitted by law, against any losses, judgments, liabilities, expenses and amounts paid in settlement of any claims sustained by it or
any of them in connection with the Company, provided that (i) such course of conduct was, in good faith, intended to be in, and not opposed
to, the best interests of the Company and such liability or loss was not the result of willful misconduct, or a material breach of this
Agreement or gross negligence on the part of the Manager or such person, and (ii) any such indemnification will only be recoverable from
the assets of the Company and the Members shall not have any liability on account thereof. All rights to indemnification permitted herein
and payment of associated expenses shall not be affected by the dissolution or other cessation of the existence of the Manager, or the
withdrawal, adjudication of bankruptcy or insolvency of the Manager.

 

(c)  Expenses
incurred in defending a threatened or pending civil, administrative or criminal action, suit or proceeding against any person who may
be entitled to indemnification pursuant to this Section 5.5 may be paid by the Company in advance of the final disposition of such action,
suit or proceeding, if (i) the legal action relates to the performance of duties or services by such person on behalf of the Company,
(ii) the legal action is initiated by a third party who is not a Member, (iii) there is a reasonable likelihood that such party will be
entitled to indemnification by the Company with respect to such legal action and (iv) such person undertakes to repay the advanced funds
to the Company in cases in which it is not entitled to indemnification under this Section 5.5.

 

(d)  The
term “Manager” as used in this Section 5.5 shall include any additional or substitute Manager.

 

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5.6 Books and Records; Reporting.
The Managers shall, at the expense of the Company, keep, or cause to be kept, accurate, full and complete books of accounts showing
assets,liabilities, income, operations, transactions, and the financial condition of the Company on the cash basis of accounting; and
any Member shall have access thereto at any reasonable time during regular business hours and each shall have the right to copy said records
at his own expense. The Manager shall (i) provide the Members, no less than quarterly, written reports concerning the status of the development
of the Project, including balance sheet, income statement and cash flow statement, (ii) provide annual financial statements, the truthfulness
and accuracy of which shall be verified under oath by a principal officer of the Manager, and (iii) cooperate with SG DEV’s auditors
in connection with their audit of SG DEV and its affiliates.

 

5.7  Federal
Income Tax Elections. All elections required or permitted to be made by the Company under the Code shall be made by the Tax Matters
Member (as that term is hereinafter defined). For all purposes permitted or required by the Code, the Members constitute and appoint Advantage
as “tax matters partner” pursuant to Section 6231(a)(7) of the Code (the “Tax Matters Member”), or if Advantage
is no longer a Member, then such other Member as shall be elected by the vote of the Members owning a Majority Interest shall be the Tax
Matters Member. The provisions on limitations of liability of the Members and indemnification set forth in this Article V hereof shall
be fully applicable to the Tax Matters Member in its capacity as such. The Tax Matters Member may resign at any time by giving written
notice to the Company and each of the other Members. Upon the resignation of the Tax Matters Member, a new Tax Matters Member may be elected
by the vote of Members holding a Majority Interest. Effective as of January 1, 2018, or if later, the date that the BBA Partnership Audit
Rules are first applicable to the Company, the Tax Matters Member is hereby designated the “partnership representative” as
defined in Section 6223 of the Code, as amended by the Bi-partisan Budget Act of 2015 (the “Partnership Representative”).
The Partnership Representative is authorized and required to represent the Company (at the Company’s expense) in all disputes,
controversies or proceedings with the Internal Revenue Service, and, in its sole discretion, is authorized to make any available election
with respect to the BBA Partnership Audit Rules and take any action it deems necessary or appropriate to comply with the requirements
of the Code and to conduct the Company’s affairs with respect to the BBA Partnership Audit Rules. Each Member and former Member
will cooperate fully with the Partnership Representative with respect to any such disputes, controversies or proceedings with the Internal
Revenue Service, including providing the Partnership Representative with any information reasonably requested to comply with and make
elections under the BBA Partnership Audit Rules.

 

ARTICLE VI

RIGHTS AND OBLIGATIONS OF MEMBERS

 

6.1  Limitation
of Members’ Liability. Each Member’s liability shall be limited as set forth in this Operating Agreement, the
Georgia Act and other applicable law.

 

6.2  No
Liability for Company Obligations. No Member will have any personal liability for any debts or losses of the Company beyond his
or its respective Capital Contributions.

 

6.3  List
of Members. Upon the written request of any Member, the Company shall provide a list showing the names, addresses, Membership
Interest and Economic Interest of all Members and any other information required to be provided to Members by the Georgia Act.

 

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6.4  Priority
and Return of Capital. Except as may be expressly provided in Article IX, no Member or Economic Interest Holder shall have priority
over any other Member or Economic Interest Holder, either as to the return of Capital Contributions or as to Profits, Losses or distributions.
This Section shall not apply to loans (as distinguished from Capital Contributions) which a Member makes to the Company.

 

6.5 Transactions
Between the Company and Members. Notwithstanding that it may constitute a conflict of interest, any Member and/or Manager and
their respective Affiliates may engage in any transaction with the Company so long as such transaction is not expressly prohibited by
this Agreement and so long as the terms and conditions of such transaction, on an overall basis, are fair and reasonable to the Company
and are at least as favorable to the Company as those that are generally available from persons capable of similarly performing them.

 

ARTICLE VII

MEETINGS
OF MEMBERS

 

7.1  Meetings.
Meetings of the Members for any purpose, unless otherwise prescribed by the Georgia Act, may be called by any Member. Written notice to
each Member entitled to vote at such meeting, stating the place, day and hour of the meeting and the purpose or purposes for which the
meeting is called, shall be delivered not less than five (5) nor more than fifty (50) days before the date of the meeting in the manner
designated for notices pursuant to Section 16.14 hereof.

 

7.2  Meeting
Without Notice; Meeting by Telephone. If all of the Members shall meet at any time and place and consent to the holding of a meeting
at such time and place, such meeting shall be valid without call or notice. At such meeting, any lawful action may be taken. Members may
also meet by video or telephonic conference call provided the requisite notice is given or waived.

 

7.3  Place
of Meetings. The Persons calling any meeting may designate any place mutually agreed by all Members, or if they cannot
agree, then any place within Metropolitan Atlanta, Georgia, or any place within thirty (30) miles of the Project, as the place of meeting
for any meeting of the Members. If no designation is made, the place of meeting shall be the principal executive office of the Company
in the State of Georgia.

 

ARTICLE VIII

CAPITAL CONTRIBUTIONS, LOANS, LOAN
GUARANTIES, AND ADDITIONAL MEMBERS

 

8.1  Capital;
Percentage Interests; Capital Accounts.

 

(a) Initial
Capital Contributions. JDI has already made a Capital Contributions to the Company in the amount of five hundred thousand dollars
($500,000). For its Capital Contribution to the Company, SG DEV shall pay into the Company the sum of three million dollars ($3,000,000),
the proceeds of which shall be used to acquire the Project Land by and in the name of the Company, provided further that SG DEV’s
Capital Contribution shall not be due until it completes due diligence concerning the Property no later than June 29, 2021.

 

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(b) Exhibit
“A” sets forth the Ownership Percentages of each Member in the Company. The Ownership Percentage of each Member in
the Company may be evidenced by a certificate issued by the Company to each respective Member in such form as shall be approved by
the Manager.

 

A Capital Account shall be
maintained by the Manager for each Member in accordance with the requirements of Treas. Reg. §1.704-1(b)(2)(iv). In furtherance thereof,
Capital Accounts shall be (i) debited for distributions to the Members pursuant to Sections 7, 8 and 15 hereof and for allocations of
losses and deductions in accordance with Section 6 hereof, (ii) credited for the cash contributions by the Members pursuant to this Section
5 and allocations of profits and gain pursuant to Section 6 hereof.

 

(c) Additional
Capital Contributions; Third Party Loans.

 

(i) No Member shall have
any obligation to contribute any capital to the Company.

 

(ii) In the event Manager
determines that the Company requires funds, the Manager shall cause the Company to attempt to borrow the necessary additional capital
on a non-recourse basis, from banks or institutional lenders, upon such terms and at such rates as are commercially reasonable at that
time (a “Loan”). Each Member shall cooperate in the Company’s attempts to obtain any Loan.

 

(d) Loans
by Members. In the event the Company is unable to borrow any necessary additional capital from third parties as described in Section
8.1(c) above, any Member shall have the right, but not the obligation, to loan such additional capital to the Company on terms set forth
herein below (hereinafter a “Member Loan”). If more than one Member elects to make any such Member Loan to the Company,
the Members shall coordinate such Member Loans so that the Member Loans shall be made only in proportion to the respective percentage
interest in the Company of the Members making such Member Loans. If any Member(s) shall make any Member Loan(s) to the Company or advance
money on its behalf as described hereinabove, the amount of any such Member Loan(s) or advance(s) shall not be treated as a Capital Contribution
but shall be a debt due from the Company. Any such Member Loan(s) of additional capital to the Company by a Member shall bear interest
at the “Prime Rate” listed in the “Money Rates” column in The Wall Street Journal (or such other comparable
rate as may be reasonably designated by the Manager, if such “Prime Rate” is not ascertainable) plus four percent (4%) and
such Member Loan and interest shall be repayable by the Company out of Cash Flow and net proceeds as set forth in Section 8.3 below. Upon
the request of any Member, the Company shall execute a promissory note evidencing any Member Loan made by such Member pursuant to the
terms of this Section 8.1(d).

 

8.2 Allocations/Tax
Matters.

 

(a) Allocation
of Profits and Losses. Unless otherwise agreed, profits and losses shall, for income tax purposes, be allocated to the Members pro
rata in accordance with their respective percentage interests.

 

(b) Tax
Matter Partner. Manager shall be the tax matters partner for the Company.

 

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(c) Tax
Elections. Manager shall have the right to make tax elections for the Company, including an election pursuant to Section 754 of the
Internal Revenue Code of 1986.

 

8.3. Cash
Flow. At such times as it deems appropriate, but no less often than quarterly, the Manager shall distribute the “Cash Flow”
(as hereinafter defined) of the Company as follows:

 

(a) First,
to the Members pro rata and in proportion to any Member Loans made by the Members pursuant to Section 5 above, to repay any accrued but
unpaid interest under such Member Loans;

 

(b) Next,
pro rata and in proportion to any Member Loans made by the Members pursuant to Section 5 above, to repay any unpaid principal under any
such Member Loans;

 

(c) Next,
to the Members pro rata to their respective Ownership Percentage interests in the Company.

 

For purposes of this Agreement,
the “Cash Flow” of the Company shall be the gross cash receipts for the applicable accounting period from all sources, other
than capital contributions of the Members, less gross cash expenditures of the Company for such period determined in accordance
with sound cash method principles consistently applied, and less cash on hand of the Company as of the end of such period in such
reserves or additions to reserves reasonably deemed necessary or appropriate by the Manager to meet the obligations of the Company.

 

8.4 Sales
Proceeds and Refinancing Proceeds. The net proceeds received by the Company from any sale, financing or refinancing by the Company
(less any reserves reasonably deemed necessary or appropriate by the Manager to meet the obligations of the Company) shall be distributed
in accordance with this Section 8.4 promptly following receipt thereof by the Company. For purposes of this Agreement, condemnation proceeds
and casualty or hazard insurance proceeds (to the extent not used for rebuilding) shall be deemed sales proceeds. Such proceeds shall
be distributed in the following order and priority:

 

(a) First,
to the Members pro rata and in proportion to any Member Loans made by the Members pursuant to Section 8.1(d) above, to repay any accrued
but unpaid interest under such Member Loans;

 

(b) Next,
pro rata and in proportion to any Member Loans made by the Members pursuant to Section 8.1(d) above, to repay any unpaid principal under
any such Member Loans;

 

(c) Next,
to the Members as a return of capital, pro rata in accordance with their capital contributions to the Company, to the extent such capital
has not already been repaid out of distribution(s) under this Section;

 

(d) all
remaining proceeds shall be distributed to the Members pro rata in accordance with their respective Ownership Percentage interests in
the Company.

 

8.5  Rules
Governing Capital. Except as otherwise expressly provided in this Operating Agreement or as required by law:

 

(a)  no
Owner may withdraw any Capital Contribution from the Company;

 

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(b)  no
Owner shall be required to make Loans to the Company;

 

(c) neither
a Loan by an Owner to the Company nor its repayment by the Company shall have any effect on any Owner’s Capital Account or Economic
Interest except as provided by Section 8.2(e) above; and

 

(d)  notwithstanding
the nature of any Owner’s Capital Contribution, such Owner has only the right to demand and receive cash in return for such
Capital Contribution.

 

8.6.  Right
of First Refusal. If JDI receives a good faith, bona fide written offer from an unaffiliated third party to purchase all or any
portion of the Project, which offer JDI intends to accept (an “Offer”), JDI shall first offer to SG DEV at the same
price and upon substantially the same terms as are contained in the Offer. JDI’s offer to SG DEV shall be in writing and shall be
accompanied by a copy of the Offer. SG DEV shall have thirty (30) calendar days after receipt of such offer from JDI (the “ROFR
Offer Period”) within which to accept the offer. If SG DEV fails to accept or affirmatively rejects the offer to purchase all
or any portion of the Project within the Company Offer Period, JDI then shall offer to sell all or any portion of the Project which are
not to be purchased by SG DEV.

 

8.7 Forced Sale.
At any time following the funding from SG DEV of its capital contribution through and including the second anniversary of the execution
hereof, JDI shall have the right at its discretion to purchase the interest of SG DEV, by (i) returning to SG DEV its $3,000,000 capital
contribution and (ii) providing an Annual Internal Rate of Return (IRR) of forty (40%) Percent (i.e. $1,200,000 per year). Provided SG
DEV has funded its capital contribution, at any time after second anniversary of the execution hereof, JDI shall have the right at its
discretion to purchase the interest of SG DEV by (i) returning to SG DEV its $3,000,000 capital contribution and (ii) providing an Annual
Internal Rate of Return (IRR) of thirty-two and one-half (32.5%) Percent (i.e. $975,000 per year). The exercise by JDI of the buyout right
set forth in this Section 8.7 shall in no way impair or affect SG DEV’s rights and interests in and to the Service Provider agreement
with the Company, all of which shall remain in full force and effect.

 

8.8  Purchase
of Membership Interest. At the closing of the purchase and sale of a Member’s Membership Interest in the Company pursuant
to the Section 8.7 above (the day of such closing is hereinafter referred to as the “Closing Date”), the purchasing
Member shall pay the entire purchase price for such Membership Interest in accordance with the terms of the Section above and the selling
Member shall duly execute and deliver all documents that may be necessary or desirable, in the reasonable opinion of the purchasing Member
and its counsel, to effect the transfer of the selling Member’s entire Membership Interest in the Company to the purchasing Member.
Such Membership Interest in the Company shall be conveyed to the purchasing Member by the selling Member free and clear of all liens and
encumbrances, whatsoever, other than those affecting the Project, and the purchasing Member shall accept such Membership Interest subject
to the selling Member’s share, if any, of all liabilities and obligations of the Company as of the Closing Date, and shall assume
and agree to pay and perform and indemnify and hold the selling Member wholly harmless from all liabilities and obligations of the Company
as of the Closing Date with respect to which, and to the extent the selling Member is personally liable. The purchasing Member, as a condition
to the selling Member’s obligation to consummate the sale of its Membership Interest in the Company to the purchasing Member, shall
release of the selling Member and any affiliated guarantor from any and all liabilities and obligations of the Company for which the selling
Member or such guarantor is personally liable. Notwithstanding anything to the contrary set forth in this Section, the selling Member
and any affiliated guarantor shall not be released from, and shall have continuing liability for, all liabilities and obligations to the
Company arising out of the selling Member’s fraud, bad faith, willful misconduct or gross negligence.

 

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8.9 Additional
Members. Subject to Section 5.3(xix) hereof, the Manager may at any time and from time to time cause the Company to issue
additional Membership Interests for such consideration, and upon such terms and conditions, and to such Persons, as the Manager
shall determine, including but not limited to any new or existing Members (including the Manager). Except as otherwise provided in
this Agreement, any issuances of Membership Interests pursuant to this Section 8.9 may be in one or more classes (either new or
existing classes) for such consideration and on such terms and conditions as the Manager in its discretion determines to be in the
best interests of the Company, which classes of Membership Interests may have such designations, preferences, and relative,
participating, optional or other special rights as shall be fixed by the Manager.

 

ARTICLE IX

DISTRIBUTIONS TO OWNERS

 

9.1  Net
Cash Available for Distribution. Except as otherwise provided in Article XIV hereof, the Manager shall distribute, at such
times it reasonably deems appropriate, Net Cash Available for Distribution to the Members in the following order of priority:

 

(a) First,
if any Member Loans have been made to the Company pursuant to Section 8.1 above or if a Member or an Affiliate of a Member has made any
payments to a third party lender pursuant to the guarantee or endorsement of any debt of the Company (“Guarantee Payments”)
or if a Member has directly paid or advanced funds to a third party on behalf of the Company, which payments or advances are approved
by the Manager (“Advances”), then to such Member(s) in the amount of each such Member Loan or Guarantee Payment or
Advance, applied first to the payment of accrued but unpaid interest on such Member Loan(s) or Guarantee Payment(s) or Advance(s) (with
interest on any such Guarantee Payment or Advance being accrued at the rate set forth in Section 8.3 for Member Loans) and, after such
interest has been paid in full, applied to the principal amount thereof (for purposes of this 9.l(a), only Member Loan(s) or Guarantee
Payment(s) or Advance(s) made after the date of this Operating Agreement, if any, shall be considered). Notwithstanding anything to the
contrary set forth herein, under no circumstances shall either Guarantee Payments or Advances be deemed to include the Certificate of
Deposit (as defined below);

 

(b)  Next,
to the Members in the amount of their Outstanding Capital

 

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(c)  Any
remaining Net Cash Available for Distribution shall be distributed to the Members pro rata in accordance with their respective Ownership
Percentages.

 

9.2 Limitation
Upon Distributions. No distribution shall be made to the Owners if prohibited by O.C.G.A. §14-11-407.

 

9.3 Interest
On and Return of Capital Contributions. No Owner shall be entitled to interest on its Capital Contribution or to the return
of its Capital Contribution, except as otherwise specifically provided for herein.

 

9.4  Withholding.

 

(a) The Company
shall withhold and pay over to the Internal Revenue Service or other applicable taxing authority all taxes or withholdings, and all interest,
penalties, additions to tax, and similar liabilities in connection therewith or attributable thereto (hereinafter “Withheld Taxes”)
to the extent that the Tax Matters Member determines that such withholding and/or payment is required by the Code or any other law, rule,
or regulation, including, without limitation, Sections 1441, 1442, 1445, or 1446 of the Code and Section 48-7-129 of the Official Code
of Georgia Annotated. The Tax Matters Member shall determine in good faith to which Member such Withheld Taxes are attributable. All
amounts withheld pursuant to this Section 9.4 with respect to any allocation, payment or distribution to any Member shall be considered
a loan (“Withholding Loan”) by the Company to such Member. The borrowing Member shall repay such Withholding Loan within
ten Business Days after the Tax Matters Member delivers a written demand therefor, together with interest from the date such loan was
made until the date of repayment thereof at a rate per annum equal to the lesser of (i) the maximum rate permitted by law, and (ii) the
“Prime Rate” (as defined in Section 8.3 above). In addition to any rights of the Company to enforce its right to receive payment
of the Withholding Loan, plus any accrued interest thereon, the Company may deduct from any distribution to be made to a borrowing Member
or any amount available for distribution to a borrowing Member an amount not greater than the outstanding balance of any Withholding Loan,
plus any accrued interest thereon, as a payment in total or partial satisfaction thereo£ . In the event that the Company deducts
the amount of the Withholding Loan plus any accrued interest thereon from any actual distribution or amount otherwise available to be
distributed, the amount so deducted shall be treated as an actual distribution to the borrowing Member for all purposes of this Operating
Agreement.

 

(b) If an amount
payable to the Company is reduced because the Person paying that amount withholds and/or pays over to the Internal Revenue Service or
other applicable taxing authority any amount as a result of the status of a Member, the Tax Matters Member shall make such adjustments
to the amounts distributed and allocated among the Members as it determines fair and equitable. (For example, if a portion of interest
income earned by the Company is withheld by the payor and paid over to the Internal Revenue Service because a particular Member is a non-U.S.
Person, the Manager might include such withheld and paid over amount in computing amounts available for distribution to the Members pursuant
to Article IX and treat such withheld and paid over amount as if that amount were distributed to the Member in satisfaction of whose tax
liability such amount was withheld and paid over.

 

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ARTICLE X

ALLOCATIONS OF PROFITS AND LOSSES

 

10.1  Profits.
After giving effect to the special allocations set forth in Sections 10.3 and 10.4 hereof, Profits for any Fiscal Year shall be allocated
to the Owners in accordance with their respective Ownership Percentages.

 

10.2  Losses.
After giving effect to the special allocations set forth in Sections 10.3 and 10.4 hereof, Losses for any Fiscal Year shall be allocated
to the Owners in the following order and priority:

 

(a)  Except
as provided in Subsection 10.2(b) hereof, Losses for any Fiscal Year shall be allocated to the Owners in accordance with their respective
Ownership Percentages.

 

(b)  Notwithstanding
anything in this Agreement to the contrary, no loss or item of deduction shall be allocated to an Owner if such allocation would cause
such Owner to have a negative Adjusted Capital Accounts as of the last day of the Fiscal Year or other period to which such allocation
relates. Any amounts not allocated to an Owner pursuant to the limitations set forth in this Subsection 10.2(b) shall be allocated to
the other Owners to the extent possible without violating the limitations set forth in this Subsection 10.2(b), and any amounts remaining
to be allocated shall be allocated among the Owners in accordance with their respective Ownership Percentages.

 

10.3  Special
Allocations. The following special allocations shall be made in the following order:

 

(a)  Minimum
Gain Chargeback; Qualified Income Offset. Items of Company income and gain shall be allocated to the Owners in an amount sufficient
to satisfy the “minimum gain chargeback” requirements of Sections 1.704-2(f) and 1.704-2(i)(4) of the Regulations and the
“qualified income offset” requirement of Section 1.704-1(b)(2)(ii)(g)(3) of the Regulations.

 

(b)  Partner
Nonrecourse Deductions. “Partner nonrecourse deductions” (within the meaning of Section 1.704-2(i) of the Regulations)
shall be allocated to the Owner who bears the economic risk of loss associated with such deductions, in accordance with Section 1.704-2(i)
of the Regulations.

 

(c)  Nonrecourse
Deductions. “Nonrecourse Deductions” (within the meaning of Section 1.704-2(b)(1) and 1.704-2(c) of the Regulations) shall
be allocated among the Owners in accordance with their respective Ownership Percentages.

 

(d)  Section
754 Adjustments. To the extent an adjustment to the adjusted tax basis of any Company asset pursuant to Sections 734(b) or 743(b)
of the Code is required, pursuant to Section 1.704-1(b)(2)(iv)(m) of the Regulations, to be taken into account in determining Capital
Accounts, the amount of such adjustment to the Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis
of the asset) or loss (if the adjustment decreases such basis) and such gain or loss shall be specially allocated to the Owners in accordance
with the requirements of Section 1.704-1(b)(2)(iv)(m) of the Regulations.

 

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(e)  Cancellation
of Debt Income. To the extent the Company incurs income as a result of the cancellation of debt or the revision of debt terms, then
the entire amount of income associated with such cancellation or revision shall be allocated to those Members that were Members when the
debt was incurred by the Company, and not affect any Members that were admitted as Members subsequent to the time such debt was incurred
by the Company.

 

(f)  Charitable
Contributions. To the extent the Company participates in a charitable contribution of its assets to a public charity, the federal
income tax deduction associated with that contribution shall be fully allocated pro rata based on the Membership percentage interests.

 

(g)  Losses.
To the extent the Company incurs Losses, such Losses shall be fully allocated to SG DEV up to an amount equal to SG DEV’s capital
contribution, and thereafter pro rata based on the Ownership Percentage interests.

 

10.4  Curative
Allocations. The allocations set forth in Subsection 10.2(b) and Subsections 10.3(a) through (d) hereof (the “Regulatory
Allocations”) are intended to comply with certain requirements of the Regulations. It is the intent of the Members that, to
the extent possible, all Regulatory Allocations shall be offset either with other Regulatory Allocations or with special allocations of
other items of Company income, gain, loss, or deduction pursuant to this Section 10.4. Therefore, notwithstanding any other provision
of this Article X (other than the Regulatory Allocations), the Members shall make such offsetting special allocations of Company income,
gain, loss, or deduction in whatever manner it determines appropriate so that, after such offsetting allocations are made, each Owner’s
Capital Account balance is, to the extent possible, equal to the Capital Account balance such Owner would have had if the Regulatory Allocations
were not part of the Operating Agreement and all Company items were allocated pursuant to Section 10.1 and Section 10.2(a). In exercising
its discretion under this Section 10.4, the Members shall take into account future Regulatory Allocations under Subsections 10.3(a) that,
although not yet made, are likely to offset other Regulatory Allocations made under Subsections

10.3(b) and 10.3(c).

 

10.5  Other
Allocation Rules.

 

(a)  For
purposes of determining the Profits, Losses, or any other items allocable to any period, Profits, Losses, and any such other items shall
be determined on a daily, monthly, or other basis, as determined by the Members using any permissible method under Code Section 706 and
the Regulations thereunder.

 

(b)  All
allocations to the Owners pursuant to this Article X, except as otherwise provided, shall be divided among them in proportion to their
Ownership Percentages.

 

(c)  The
Members are aware of the income tax consequences of the allocations made by this Article X and hereby agree to be bound by the provisions
of this Article X in reporting their shares of Company income and loss for income tax purposes.

 

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10.6  Tax/Book
Differences. In the event that any Company property is reflected in the Company’s books and records, pursuant to Sections
1.704-1(b)(2)(iv)(d) or (f) of the Regulations, at an amount which differs from the adjusted tax basis of such property, then allocations
with respect to such property for income tax purposes shall be made in a manner which takes into consideration differences between such
book value and such adjusted tax basis in the manner provided in Section 704(c) of the Code, the Regulations promulgated thereunder and
Section 1.704-1(b)(2)(iv)(f)(4) of the Regulations, which amounts shall not affect, or in any way be taken into account in computing,
any Owner’s Capital Account or share of Profits, Losses, other items, or distributions pursuant to any provision of this Agreement.
Any allocations with respect to any such property for purposes of maintaining the Owners’ Capital Accounts, and the determination
of Profits and Losses, shall be made by reference to the book value of such property, and not its adjusted tax basis, all in accordance
with Section 1.704-1(b)(2)(iv)(g) of the Regulations.

 

Any elections
or other decisions relating to allocations governed by this Section 10.6 shall be made by the Members in any manner that reasonably reflects
the purpose and intention of this Agreement.

 

10.7  Allocation
of Nonrecourse Liabilities. The “excess nonrecourse liabilities” of the Company (within the meaning of Section 1.752-3(a)(3)
of the Regulations) shall be shared by the Owners in accordance with their respective Ownership Percentages.

 

ARTICLE XI

BOOKS AND
RECORDS

 

11.1  Fiscal
Year. The Company’s Fiscal Year shall be the calendar year, unless otherwise agreed by the Members.

 

11.2  Records,
Audits and Reports. At the expense of the Company, the Manager shall maintain records and accounts of all operations and expenditures
of the Company. The Company shall keep at its principal place of business the following records:

 

(a)  A current
list of the full name and last known address of each Member and Economic Interest Holder;

 

(b)  Copies
of such records as would enable a Member to determine the relative voting rights, if any, of the Members;

 

(c)  A copy
of the Articles of Organization of the Company and all amendments;

 

(d)  Copies
of the Company’s federal, state, and local income tax returns and reports, if any, for the three most recent years;

 

(e)  Copies
of this Operating Agreement, together with any amendments thereto;

 

(f)  Copies
of any financial statements of the Company for the three most recent years;

 

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(g)   Copies
of any bank statements of the Company for the three most recent years; and

 

(h)   Copies
of any and all material agreements to which the Company is a party or otherwise bound or affected by.

 

11.3 Tax Returns.
At the expense of the Company, the Tax Matters Member shall cause the preparation and timely filing of all tax returns required to be
filed by the Company pursuant to the Code and all other tax returns deemed necessary and required in each jurisdiction in which the Company
does business. The Company shall provide each Member with such information as is required for such Member to file his individual tax returns.
Copies of all such returns, or pertinent information therefrom, shall be furnished to each Member.

 

11.4  
Quarterly Reports. No less than quarterly the Manager shall provide the Members with a report on the (i) status of the Project,
(ii) the financial condition and affairs of the Company (balance sheet, income statement, cash flow, etc.), and (iii) whether there are
any actual or threatened litigations involving the Company.

 

ARTICLE XII

VOLUNTARY TRANSFERS OF INTERESTS

 

12.1  General
Prohibition. Except as otherwise set forth in this Article XII, no Member or Economic Interest Holder may assign, convey, sell,
transfer, liquidate, encumber or in any way alienate (a “Transfer”) all or any part of its Membership Interest or Economic
Interest without the prior written consent of all the Members, which consent may be given or withheld in the sole discretion of each Member.
Any attempt to Transfer all or any portion of a Membership Interest or Economic Interest in violation of this Section 12.1 shall be null
and void and shall have no effect whatsoever.

 

12.2  Affiliate
and Relative Transfers. Any Member, upon written notice to the other Members, may Transfer all or any portion of its Membership
Interest in the Company to an Affiliate, a Relative, or to an estate planning vehicle for the benefit of one or more Relatives, without
the written consent of the other Member(s); provided that (i) the assignor continues to control the decision-making of the Member, (ii)
the transferee is not a foreign person or entity, and (iii) such Affiliate or Relative shall comply first with the provisions of Section
12.4 with respect to any Transfer of a Membership Interest in the Company. Furthermore, the Transfer of a Member’s interest to Relative
or Relatives following the death of Member shall not require the written consent of the other Member(s).

 

12.3  Pledge
of Economic Interests. No Member may pledge or assign its Membership Interest or its Economic Interest, as collateral security
for any loan without the prior written consent of all of the other Members.

 

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12.4  Conditions
of Transfer and Assignment. A transferee of a Membership Interest or Economic Interest permitted under this Article XII shall
become a Member or an Economic Interest Holder, as the case may be, unless otherwise provided in Sections 12.2 or 12.3, only if all the
Members consent in writing thereto and the following conditions have been satisfied:

 

(a) the transferor, its
legal representative or authorized agent must have executed a written instrument of transfer of such Membership Interest or Economic Interest
in form and substance satisfactory to the remaining Member;

 

(b) the transferee must
have executed a written agreement, in form and substance satisfactory to the remaining Member, to assume all of the duties and obligations
of the transferor under this Operating Agreement with respect to the transferred Membership Interest or Economic Interest, as applicable,
and to be bound by and subject to all of the terms and conditions of this Operating Agreement;

 

(c) the transferor, its
legal representative or authorized agent, and the transferee must have executed a written agreement, in form and substance satisfactory
to the remaining Member, to indemnify and hold the Company and the other Members harmless from and against any loss or liability arising
out of the Transfer;

 

(d) the transferee must
have executed such other documents and instruments as the remaining Member may deem necessary or appropriate in order to consummate the
admission of the transferee as a Member, if with respect to a Membership Interest;

 

(e) unless waived by the
remaining Member, the transferee or the transferor must have paid the expenses incurred by the Company in connection with the admission
of the transferee to the Company; and

 

(f) with respect to any
transferee desiring to become a Member, the remaining Member(s) must consent to such transferee becoming a substitute Member, which consent
can be given or withheld in the sole and absolute discretion of the remaining Member(s), except as otherwise provided in Section 12.2.
A permitted transferee of an Economic Interest who does not become a Member shall be an Economic Interest Holder only and shall be entitled
only to the transferor’s Economic Interest to the extent assigned. Such transferee shall not be entitled to vote on any question
regarding the Company, or on any other matter requiring the vote, consent or approval of the Members hereunder, and the Ownership Percentage
associated with the transferred Economic Interest shall not be considered to be outstanding for voting purposes; and

 

(g) Unless waived by the remaining
Member, the transferor shall deliver an opinion of counsel that the transferring Member’s interest in the Company has been registered
for sale under applicable state and federal securities laws or that such registration is not required.

 

12.5  Successors
as to Economic Rights. References in this Operating Agreement to Members also shall be deemed to constitute a reference
to Economic Interest Holders if and to the extent that the provision relates to economic rights and obligations. By way of illustration
and not limitation, such provisions would include those regarding Capital Accounts, distributions, allocations, and contributions. A transferee
shall succeed to the transferor’s Capital Contributions and Capital Account to the extent related to the Economic Interest transferred,
regardless of whether or not such transferee becomes a Member.

 

12.6.  Competing
Activities. Nothing in this Agreement shall be deemed to restrict in any way the freedom of any Member to conduct any business
or activity whatsoever without any accountability to the Company or the Members, even if such business or activity competes with the business
of the Company, provided that the Manager or its Affiliates shall not engage in a business or activity that competes with the business
of the Company and that is located within 60 miles of the Project.

 

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ARTICLE XIII

DISSOLUTION
AND TERMINATION

 

13.1  Dissolution.

 

(a)  The
Company shall be dissolved upon the occurrence of any of the following events:

 

(i)  the written
agreement of all the Members; or

 

(ii) the sale
or other disposition of all or substantially all of the assets of the Company (except under circumstances where (x) all or a portion of
the purchase price is payable after the closing of the sale or other disposition, or (y) the Company retains a material economic or ownership
interest in the entity to which all or substantially all of its assets are transferred) in accordance with the terms of this Agreement;
or

 

(iii)  The
entry of a decree of judicial dissolution under O.C.G.A. §14-11-603(a).

 

(b)  Except
as expressly permitted in this Operating Agreement and notwithstanding anything to the contrary in O.C.G.A. §14-11-601, a Member
shall not withdraw voluntarily or take any other voluntary action which directly causes the person to cease to be Member; provided, however,
that any Member who transfers its entire Membership Interest in accordance with this Agreement shall cease to be a Member.

 

(c) Damages
for breach of Subsection 14.1(b) hereof shall be monetary damages only (and not in the form of specific performance), and such damages
may be offset against any distributions by the Company to which the withdrawing member otherwise would be entitled.

 

13.2  Effect
of Dissolution. Upon dissolution, the Company shall cease to carry on- its business, except as permitted by O.C.G.A. §14-11-605.
Upon dissolution, the Members shall file a statement of commencement of winding up pursuant to O.C.G.A. §14-11-606 and shall publish
the notice permitted by O.C.G.A.. §14-11-608.

 

13.3  Winding
Up, Liquidation and Distribution of Assets.

 

(a) Upon
dissolution, an accounting of the Company’s assets, liabilities and operations shall be made by the Company’s independent
accountants, from the date of the last previous accounting until the date of dissolution. The Person or Persons (the “Liquidators”)
selected by the Members shall proceed immediately to wind up the affairs of the Company.

 

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(b)  If
the Company is dissolved and its affairs are to be wound up, the Liquidators:

 

(i) shall
sell or otherwise liquidate all of the Company’s assets as promptly as practicable (except to the extent the Liquidators may determine
to distribute any assets to the Members in kind);

 

(ii)  
shall allocate any profit or loss resulting from such sales to the Members and Economic Interest Holders in accordance with Article X
hereof;

 

(iii)  shall
discharge all liabilities of the Company, including liabilities to Members and Economic Interest Holders who are creditors, to the extent
otherwise permitted by law, other than liabilities to Members and Economic Interest Holders for distributions, and establish such reserves
as may be reasonably necessary to provide for contingent liabilities of the Company; and

 

(iv)  shall
distribute the remaining assets to the Owners in accordance with their respective Ownership Percentages.

 

If any assets of the Company
are to be distributed in kind, the net fair market value of such assets as of the date of dissolution shall be determined by independent
appraisal or by agreement of the Members. Such assets shall be deemed to have been sold as of the date of dissolution for their net fair
market value, and the Capital Accounts of the Owners shall be adjusted pursuant to the provisions of this Operating Agreement to reflect
such deemed sale.

 

(c)  Notwithstanding
anything to the contrary in this Operating Agreement, upon a liquidation within the meaning of Section 1.704-1(b)(2)(ii)(g) of the Regulations,
if any Owner has a deficit Capital Account (after giving effect to all contributions, distributions, allocations and other Capital Account
adjustments for all taxable years, including the year during which such liquidation occurs), such Owner shall have no obligation to make
any Capital Contribution, and the negative balance of such Owner’s Capital Account shall not be considered a debt owed by such Owner
to the Company or to any other Person for any purpose whatsoever.

 

(d)  Upon
completion of the winding up, liquidation and distribution of the assets, the Company shall be deemed terminated.

 

(e)  The
Members shall comply with any applicable requirements of applicable law pertaining to the winding up of the affairs of the Company and
the final distribution of its assets.

 

13.4 Certificate of
Termination. When all debts, liabilities and obligations have been paid and discharged or adequate provisions have been
made therefor and all of the remaining property and assets have been distributed to the Owners, a Certificate of Termination may be executed
and filed with the Secretary of State of Georgia in accordance with O.C.G.A. §14-11-610.

 

13.5 Return of Contribution
Nonrecourse to Other Owners. Except as provided by law or as expressly provided in this Operating Agreement, upon dissolution,
each Owner shall look solely to the assets of the Company for the return of its Capital Account. If the Company property remaining after
the payment or discharge of the debts and liabilities of the Company is insufficient to return the Capital Account of one or more Owners,
including, without limitation, all or any part of that Capital Account attributable to Capital Contributions, then such Owner or Owners
shall have no recourse against any other Owner.

 

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ARTICLE XIV

MISCELLANEOUS
PROVISIONS

 

14.1 Application of
Georgia Law. This Operating Agreement, and the application and interpretation hereof, shall be governed exclusively by
its terms and by the laws of the State of Georgia.

 

14.2 No Partnership
Intended for Non-Tax Purposes. The Members have formed the Company under the Georgia Act and expressly disavow any intention
to form a partnership under Georgia’s Uniform Partnership Act, Georgia’s Uniform Limited Partnership Act or the partnership
act or laws of any other state. The Members do not intend to be partners one to another or partners as to any third party.

 

14.3 No Action for
Partition. No Member or Economic Interest Holder has any right to maintain any action for partition with respect to the property
of the Company.

 

14.4 Further Assurances.
The Members each agree to cooperate, and to execute and deliver in a timely fashion any and all additional documents, designations, powers
of attorney and other instruments necessary to effectuate the purposes of the Company and this Operating Agreement or to comply with any
applicable laws, rules or regulations.

 

14.5 Construction.
Whenever the singular number is used in this Operating Agreement and when required by the context, the same shall include the plural and
vice versa, and the masculine gender shall include the feminine and neuter genders and vice versa.

 

14.6 Headings.
The headings in this Operating Agreement are inserted for convenience only and are in no way intended to describe, interpret, define,
or limit the scope, extent or intent of this Operating Agreement or any provision hereof.

 

14.7 Waivers.
The failure of any party to seek redress for violation of or to insist upon the strict performance of any covenant or condition of this
Operating Agreement shall not prevent a subsequent act, which would have originally constituted a violation, from having the effect of
an original violation.

 

14.8 Rights and Remedies
Cumulative. The rights and remedies provided by this Operating Agreement are cumulative and the use of any one right or remedy
by any party shall not preclude or waive the right to use any or all other remedies. Such rights and remedies are given in addition to
any other rights the parties may have by law, statute, ordinance or otherwise.

 

14.9 Severability.
If any provision of this Operating Agreement or the application thereof to any person or circumstance shall be invalid, illegal or unenforceable
to any extent, the remainder of this Operating Agreement and the application thereof shall not be affected and shall be enforceable to
the fullest extent permitted by law.

 

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14.10 Successors and
Assigns. Each and all of the covenants, terms, provisions and agreements herein contained shall be binding upon and inure to the
benefit of the parties hereto and, to the extent permitted by this Operating Agreement, their respective heirs, legal representatives,
successors and assigns.

 

14.11 Creditors.
None of the provisions of this Operating Agreement shall be for the benefit of or enforceable by any creditors of the Company.

 

14.12 Counterparts.
This Operating Agreement may be executed in counterparts, each of which shall be deemed an original but all of which shall constitute
one and the same instrument. The exchange of signature pages by facsimile or Portable Document Format (PDF) transmission shall constitute
effective delivery of such signature pages and may be used in lieu of the original signature pages for all purposes. Signatures transmitted
by facsimile or Portable Document Format (PDF) shall be deemed to be original signatures for all purposes.

 

14.13 Withholding Certificates.
In order to comply with Section 1446 of the Code and the applicable Treasury Regulations thereunder each Member shall provide to the Company
a properly executed withholding certificate (e.g. W-8BEN, W-8IMY, W-9) certifying their status as a U.S. Person or non-U.S. person. Failure
by any Member to provide such withholding certificate shall authorize the Manager to withhold from such Member the amount required to
be withheld under Section 1446 of the Code and the Treasury Regulations thereunder in the event of the allocation to such Member of “effectively
connected taxable income” as defined in the Code and the Treasury Regulations thereunder.

 

14.14 Notices.
Any notice, election or other communication provided for or required by this Operating Agreement shall be in writing and shall be deemed
to have been received (i) when delivered by hand or by email, or (ii) on the third calendar day following its deposit in the United States
Mail, certified or registered, return receipt requested, postage prepaid, or (iii) on the day after deposit with a national overnight
courier service, properly addressed to the person to whom such notice is intended to be given at the addresses provided by the Members:

 

Any Member shall have the
right to change its designated address by delivery of notice of such change to the other Members in accordance with this Section 16.14.
Any such change shall be effective ten (10) days after receipt by the addressee.

 

14.15 Modifications.
No change or modification of this Operating Agreement nor any waiver of any term or condition hereof shall be valid or binding upon the
Members, unless such change, modification or waiver shall be in writing and signed by all of the Members.

 

    27

     

    

 

14.16 Arbitration.
Any dispute, controversy or claim arising out of or in connection with, or relating to, this Operating Agreement or any breach or alleged
breach hereof, upon the request of any party involved, shall be submitted to, and settled by, arbitration within Fulton County, State
of Georgia, pursuant to the commercial arbitration rules then in effect of the American Arbitration Association (or at any time or at
any other place or under any other form of arbitration mutually acceptable to the parties so involved). Any award rendered shall be final
and conclusive upon the parties and a judgment thereon may be entered in the highest court of the forum, state or federal, having jurisdiction.
The expenses of the arbitration shall be borne equally by the parties to the arbitration; provided, however, that each party shall pay
for and bear the cost of its own experts, evidence and counsel’s fees; and provided further, however, that in the discretion of
the arbitrator, any award may include the cost of a party’s counsel if the arbitrator expressly determines that the party against
whom such award is entered has caused the dispute, controversy or claim to be submitted to arbitration as a dilatory tactic.

 

14.17 Time.
TIME IS OF THE ESSENCE OF THIS OPERATING AGREEMENT, AND TO ANY PAYMENTS, ALLOCATIONS, AND DISTRIBUTIONS SPECIFIED UNDER THIS OPERATING
AGREEMENT.

 

14.18 Recitals.
The recitals to this Agreement are incorporated in, and made a part of, this Agreement.

 

[ Signatures set forth on following page ]

 

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IN WITNESS WHEREOF, the parties
have entered into this Operating Agreement as of the day first above set forth.

 

	 	MEMBERS:
	 	 
	 	JACOBY DEVELOPMENT, INC., a Georgia corporation
	 	 	 
	 	By:	/s/ James F. Jacoby
	 	 	Name: James F. Jacoby
	 	 	Title:   President

 

	 	Address:	8200 Roberts Drive, Suite 200
	 	 	Atlanta, GA 30350

 

	 	SGB DEVELOPMENT CORP., a Delaware corporation
	 	 	 
	 	By:	/s/ Paul Galvin
	 	 	Name:  	Paul Galvin
	 	 	Title: 	Chief Executive Officer

 

	 	Address: 195 Montague Street
    14th Floor

Brooklyn Heights, NY 11201

 

     

     

    

 

EXHIBIT “A”

 

OWNERSHIP PERCENTAGES

 

	Member	 	Ownership Percentage	 
	Jacoby Development, Inc. 	 	 	90	%
	SG Development Corp.	 	 	10	%
	Total:	 	 	100	%

 

     

     

    

 

EXHIBIT “B”

 

LEGAL DESCRIPTION OF PROJECT LAND

 

 

 

     

     

    

 

EXHIBIT “C”

 

SERVICE PROVIDER AGREEMENT BETWEEN THE COMPANY
AND SG ECHO LLC

 

See Exhibit 10.2 on the Current Report on Form 8-K

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