Document:

Exhibit 4.5

 

NOTATION
OF GUARANTEE

 

February
4, 2022

 

Reference
is hereby made to the Note Purchase Agreement dated as of January 11, 2022 (the “Purchase
Agreement”) by and among Merida Merger Sub I, a Delaware corporation (which
has been renamed Leafly Holdings, Inc., the “Company”), pursuant
to which the Company issued on the date hereof its 8.00% Convertible Senior Notes due 2025 (the “Notes”)
to the purchasers party to the Purchase Agreement. Capitalized terms used but not defined herein have the meanings given to them in the
Notes.

 

 1. Guarantee.

 

1.1
For value received, the undersigned Guarantor hereby jointly and severally, fully, unconditionally and irrevocably guarantees (the
“Guarantee”) the Notes and the obligations of the Company thereunder and under the Purchase Agreement, and
guarantees to each Holder: (i) the principal of and interest, if any, on all obligations under the Notes and all obligations under the
Purchase Agreement, shall be paid in full when due, whether at the Maturity Date, by acceleration, redemption, conversion, purchase or
otherwise, together with interest on the overdue principal, if any, and all other obligations of the Company to the Holders thereunder
shall be paid in full or performed, all in accordance with the terms hereof and thereof; and (ii) in case of any extension of time of
payment or renewal of any Notes or of any such other obligations, the same shall be paid in full when due or performed in accordance
with the terms of the extension or renewal, whether at Maturity Date, by acceleration, redemption, conversion, purchase or otherwise.
This Guarantee shall be a guarantee of payment and not of collection.

 

1.2
The Guarantor hereby agrees that its obligations hereunder shall be unconditional, irrespective of the validity, regularity or enforceability
of the Notes, the absence of any action to enforce the same, any waiver or consent by any Holder with respect to any provisions hereof
or thereof, the recovery of any judgment against the Company, any action to enforce the same or any other circumstance which might otherwise
constitute a legal or equitable discharge or defense of the Guarantor. The validity and enforceability of this Notation of Guarantee
shall not be affected by the fact that it is not affixed to any particular Note.

 

1.3
The Guarantor hereby waives the benefits of diligence, presentment, demand for payment, filing of claims with a court in the event
of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company or any other Person, protest,
notice and all demands whatsoever and covenants that the Guarantee of such Guarantor shall not be discharged as to the Notes and the
Purchase Agreement except by complete performance of the obligations contained in the Notes, Purchase Agreement and such Guarantee or
as provided for in the Notes. The Guarantor hereby agrees that, in the event of a default in payment of principal or interest on the
Notes, whether at their Maturity Date, by acceleration, redemption, conversion, purchase or otherwise, legal proceedings may be instituted
by the Holders of the Notes directly against the Guarantor to enforce each such Guarantor’s Guarantee without first proceeding
against the Company. The Guarantor agrees that if, after the occurrence and during the continuance of an Event of Default, the Holders
are prevented by applicable law from exercising their respective rights to accelerate the maturity of the Notes, to collect interest
on the Notes, or to enforce or exercise any other right or remedy with respect to the Notes, such Guarantor shall pay to the account
of the Holders, upon demand therefor, the amount that would otherwise have been due and payable had such rights and remedies been permitted
to be exercised by the Holders.

 

     

     

    

 

1.4
If any Holder is required by any court or otherwise to return to the Company or the Guarantor, or any custodian, trustee, liquidator
or other similar official acting in relation to the Company or the Guarantor, any amount paid by any of them to such Holder, the Guarantee
of the Guarantor, to the extent theretofore discharged, shall be reinstated in full force and effect. This Section 1.4 shall remain effective
notwithstanding any contrary action which may be taken by any Holder in reliance upon such amount required to be returned. This Section
1.4 shall survive the termination of this Notation of Guarantee or the Notes.

 

1.5
The Guarantor further agrees that, as between the Guarantor, on the one hand, and the Holders, on the other hand, (x) the maturity
of the obligations guaranteed hereby may be accelerated as provided in Section 12 of the Notes for the purposes of the Guarantee of such
Guarantor, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the obligations guaranteed
hereby, and (y) in the event of any acceleration of such obligations as provided in Section 12 of the Notes, such obligations (whether
or not due and payable) shall forthwith become due and payable by the Guarantor for the purpose of the Guarantee of the Guarantor.

 

1.6
Guarantor agrees that it will not be entitled to any right of subrogation in relation to the Holders in respect of any obligations
guaranteed hereby until payment in full of all obligations guaranteed hereby. Guarantor further agrees that, as between the Guarantor,
on the one hand, and the Holders, on the other hand, (1) the maturity of the obligations guaranteed hereby may be accelerated as provided
in the Notes, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the obligations guaranteed
hereby, and (2) in the event of any declaration of acceleration of such obligations, such obligations (whether or not due and payable)
will forthwith become due and payable by the Guarantor for the purpose of this Notation of Guarantee.

 

2.
Limitation of Guarantors’
Liability. The Guarantor, and by its acceptance
of the Notes and this Notation of Guarantee, each Holder confirms that it is the intention of all such parties that the Guarantee of
such Guarantor not constitute a fraudulent transfer or conveyance for purposes of bankruptcy law, the Uniform Fraudulent Conveyance Act,
the Uniform Fraudulent Transfer Act or any similar federal or state law or the provisions of its local law relating to fraudulent transfer
or conveyance. To effectuate the foregoing intention, the Holders and Guarantors hereby irrevocably agree that the obligations of such
Guarantor under its Guarantee shall be limited to the maximum amount that will not, after giving effect to all other contingent and fixed
liabilities of such Guarantor and after giving effect to any collections from, rights to receive contribution from or payments made by
or on behalf of any other Guarantor in respect of the obligations of such other Guarantor under its Guarantee, result in the obligations
of such Guarantor under its Guarantee constituting a fraudulent transfer or conveyance.

 

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3. Guarantors May Consolidate, Etc., on Certain Terms.

 

3.1
Except as otherwise provided in this Section 3 and subject to certain limitations described in this Notation of Guarantee
governing the release of the Guarantee upon the sale, disposition or transfer of the Guarantor, the Guarantor may not sell or otherwise
dispose of all or substantially all of its assets, or consolidate with or merge with or into (whether or not such Guarantor is the surviving
Person) another Person unless:

 

(a)
 (i) such Guarantor is the surviving entity; or (y) the Person formed by or surviving any such consolidation or merger (if
other than such Guarantor) or to which such sale, assignment, transfer, conveyance, lease or other disposition has been made is a corporation
or limited liability company organized or existing under the laws of the United States, any state of the United States or the District
of Columbia (such Guarantor or such Person, including the Person to which such sale, assignment, transfer, conveyance, lease or other
disposition has been made, as the case may be, being herein called the “Successor Guarantor”);

 

(ii)
the Successor Guarantor (if other than such Guarantor) assumes all the obligations of such Guarantor under this Notation of Guarantee
pursuant to written agreements; and

 

(iii) 
immediately after giving effect to such transaction, no Default or Event of Default under the Notes exists;

 

 or

 

(b)
the transaction does not violate Section 10(e) of the Notes.

 

3.2
 In case of any such consolidation, merger, sale or conveyance and upon the assumption by the Successor Guarantor, by such executed
documents as reasonably deemed sufficient by the Company, of the Guarantee and the due and punctual performance of all of the covenants
and conditions of this Notation of Guarantee and the Notes to be performed by the relevant predecessor Guarantor, such Successor Guarantor
shall succeed to and be substituted for such predecessor Guarantor with the same effect as if it had been named herein as a Guarantor.
All the Guarantees so issued shall in all respects have the same legal rank and benefit under this Notation of Guarantee and the Notes
as the Guarantees theretofore and thereafter issued in accordance with the terms of this Notation of Guarantee and the Form of Global
Note as though all such Guarantees had been issued at the date of the execution hereof.

 

3.3
Notwithstanding the foregoing, this Section 3 will not apply to a sale, assignment, transfer, conveyance, lease or other
disposition of assets by a Guarantor to the Company. 

 

4.
Release of Guarantee.
The Guarantor shall be automatically released and
relieved of any obligations under this Guarantee, in the event that:

 

4.1
the sale, disposition or other transfer (including through merger or consolidation) of all of the Capital Stock (or any sale, disposition
or other transfer of Capital Stock following which the Guarantor is no longer a Subsidiary of the Company) or all or substantially all
of the assets of the Guarantor if such sale, disposition or other transfer is made in compliance with the provisions of Section 3 of
this Notation of Guarantee and the Notes or is made in accordance with the Notes, including making a Fundamental Change Offer if required
by the provisions of the Notes;

 

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4.2
upon the merger or consolidation of the Guarantor with and into the Company that is the surviving Person in such merger or consolidation,
or upon the liquidation of such Guarantor following the transfer of all of its assets to the Company; or

 

4.3
if the Company discharges its obligations with respect to the entire aggregate principal amount of the Notes and all other obligations
under the Notes and the Purchase Agreement (other than contingent indemnification obligations in which no claim has been asserted as
of such date).

 

5.
Benefits Acknowledged. The
Guarantor acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by the Notes
and that its guarantee and waivers pursuant to this Notation of Guarantee are knowingly made in contemplation of such
benefits.

 

6.
Governing Law.
THIS NOTATION OF GUARANTEE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. The Guarantor hereby
agrees to submit to the jurisdiction of the courts of the State of New York in any action or proceeding arising out of or relating to
this Notation of Guarantee and its Guarantee hereunder.

 

[Signature
Page Follows]

 

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IN
WITNESS WHEREOF, the Guarantor has duly executed this Notation of Guarantee as of the date first above written.

 

	 	Leafly, llc
	 	 
	 	By:	/s/ Yoko Miyashita
	 	 	Name: Yoko Miyashita
	 	 	Title:   Chief Executive Officer

 

[Signature Page to Notation of Guarantee]

 

 

5Exhibit 10.1

 

EXECUTION VERSION

 

AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT

 

THIS AMENDED AND RESTATED REGISTRATION
RIGHTS AGREEMENT (this “Agreement”), dated as of February 4, 2022, is made and entered into by and among (a)
Leafly Holdings, Inc., a Delaware corporation (formerly, Merida Merger Corp. I, the “Company”), (b) Merida Holdings,
LLC, a Delaware limited liability company (the “Sponsor” and together with its Permitted Transferees (as defined
herein), the “Sponsor Holders”), (c) EarlyBirdCapital, Inc. (“EarlyBirdCapital” and
together with its Permitted Transferees, the “EarlyBirdCapital Holders”), and (c) the stockholders of Leafly
Holdings, Inc., a Washington corporation, immediately prior to the Effective Time party hereto (such stockholders, and their respective
Permitted Transferees, the “Leafly Holders”). The Sponsor Holders, the EarlyBirdCapital Holders, the Leafly
Holders and any person or entity who hereafter becomes a party to this Agreement pursuant to Section 5.2 of this Agreement, a “Holder”
and collectively the “Holders.”

 

RECITALS

 

WHEREAS, the Company
and the Sponsor entered into that certain Securities Subscription Agreement, dated as of August 1, 2019 (the “Founder Shares
Purchase Agreement”), pursuant to which the Sponsor purchased an aggregate of 2,875,000 shares (the “Founder
Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”),
on November 4, 2019, the Sponsor received a stock dividend of 0.2 shares of Common Stock for each share of Common Stock, and on December
19, 2021, in connection with the expiration of the underwriters’ overallotment option, the Sponsor forfeited an aggregate of 199,612
shares of Common Stock, resulting in the Sponsor holding an aggregate of 3,250,388 shares of Common Stock;

 

WHEREAS, the Company
and EarlyBirdCapital entered into that certain Securities Subscription Agreement, dated as of August 1, 2019 (the “Representative
Shares Purchase Agreement”), pursuant to which the EarlyBirdCapital Holders purchased an aggregate of 100,000 shares of
Common Stock (the “Representative Shares”), and on November 4, 2019, the EarlyBirdCapital Holders received a
stock dividend of 0.2 shares of Common Stock for each share of Common Stock, resulting in the EarlyBirdCapital Holders holding an aggregate
of 120,000 shares of Common Stock;

 

WHEREAS, on November
7, 2019, the Company, the Sponsor and EarlyBirdCapital entered into certain Warrants Purchase Agreements, pursuant to which the Sponsor
purchased 3,150,000 warrants (the “Private Placement Warrants”) and EarlyBirdCapital purchased 600,000 Private
Placement Warrants, in a private placement transaction occurring simultaneously with the closing of the Company’s initial public
offering on November 7, 2019;

 

WHEREAS, on November
13, 2019, as a result of the partial exercise of the overallotment option granted to the underwriters of the Company’s initial public
offering, pursuant to the Warrants Purchase Agreements the Sponsor purchased an additional 168,262 Private Placement Warrants and EarlyBirdCapital
purchased an additional 32,049 Private Placement Warrants, in private placement transactions;

 

WHEREAS, on November
4, 2019, the Company, the Sponsor Holders and the EarlyBirdCapital Holders entered into that certain Registration Rights Agreement (the
“Existing Registration Rights Agreement”), pursuant to which the Company granted the Sponsor Holders and the
EarlyBirdCapital Holders certain registration rights with respect to certain securities of the Company;

 

WHEREAS, upon the closing
of the transactions (the “Transactions”) contemplated by that certain Agreement and Plan of Merger, dated August
9, 2021, by and among the Company, Merida Merger Sub, Inc., a Washington corporation, Merida Merger Sub II, LLC, a Washington limited
liability company, and Leafly, LLC, a Washington limited liability company (formerly known as Leafly Holdings, Inc.), the Sponsor shall
forfeit, and the Company shall terminate and cancel 13,000 shares of Common Stock on the Closing Date;

 

WHEREAS, immediately after giving effect to the Transactions, in accordance with the Merger Agreement,
the Leafly Holders shall receive shares of Common Stock (“Merger Shares”);

 

     

    

    

 

WHEREAS, the Leafly Holders
may receive additional shares of Common Stock (the “Earn Out Shares”) pursuant to the earn out provisions of
the Merger Agreement;

 

WHEREAS, pursuant to
Section 6.7 of the Existing Registration Rights Agreement, the provisions, covenants and conditions set forth therein may be amended
or modified upon the written consent of the parties to the Existing Registration Rights Agreement; and

 

WHEREAS, the Company
and the Sponsor Holders desire to amend and restate the Existing Registration Rights Agreement pursuant to Section 6.7 thereof
in order to provide the Holders with registration rights with respect to the Registrable Securities on the terms set forth herein.

 

NOW, THEREFORE, in consideration
of the representations, covenants and agreements contained herein, and certain other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

 

ARTICLE
I

DEFINITIONS

 

1.1 Definitions. The terms
defined in this Article I shall, for all purposes of this Agreement, have the respective meanings set forth below:

 

“Adverse Disclosure”
shall mean any public disclosure of material non-public information, which disclosure, in the good faith judgment of the Chief Executive
Officer of the Company or the Board, after consultation with counsel to the Company, (a) would be required to be made in any Registration
Statement or Prospectus in order for the applicable Registration Statement or Prospectus not to contain any Misstatement, (b) would not
be required to be made at such time if the Registration Statement were not being filed, declared effective or used, as the case may be,
and (c) the Company has a bona fide business purpose for not making such information public.

 

“Affiliate”
means, with respect to a specified Person, each other Person that directly, or indirectly through one or more intermediaries, controls
or is controlled by, or is under common control with, the Person specified; provided, however, that no Holder shall be deemed an Affiliate
of any other Holder solely by reason of an investment in, or holding of Common Stock (or securities convertible or exchangeable for share
of Common Stock) of, the Company. As used in this definition, “control” (including with correlative meanings,
“controlled by” and “under common control with”) means possession, directly or indirectly,
of power to direct or cause the direction of management or policies (whether through ownership of voting securities or by contract or
other agreement); provided, however, that in no event shall the term “Affiliate” include any portfolio
company of any Holder or their respective Affiliates (other than the Company).

 

“Aggregate Blocking
Period” shall have the meaning given in Section 2.4.

 

“Agreement”
shall have the meaning given in the Preamble.

 

“Block Trade”
means a registered offering and/or sale of Registrable Securities with a total offering price reasonably expected to exceed $10,000,000
by any Holder on a coordinated or underwritten basis commonly known as a “block trade” (whether firm commitment
or otherwise) not involving a roadshow or other substantial marketing efforts prior to pricing, including, without limitation, a same
day trade, overnight trade or similar transaction.

 

“Board”
shall mean the Board of Directors of the Company.

 

“Claims”
shall have the meaning given in subsection 4.1.1.

 

“Closing Date”
shall mean the date of this Agreement.

 

“Commission”
shall mean the Securities and Exchange Commission.

 

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“Commission Guidance”
means (a) any publicly-available written guidance of the Commission staff, or any comments, requirements or requests of the Commission
staff and (b) the Securities Act and the rules and regulations thereunder.

 

“Common Stock”
shall have the meaning given in the Recitals hereto.

 

“Company”
shall have the meaning given in the Preamble.

 

“Company Shelf Takedown
Notice” shall have the meaning given in subsection 2.1.3.

 

“Demanding Holder”
shall mean, as applicable, (a) the applicable Holders making a written demand for the Registration of Registrable Securities pursuant
to subsection 2.2.1, collectively, or (b) the applicable Holders making a written demand for a Shelf Underwritten Offering of Registrable
Securities pursuant to subsection 2.1.3, collectively.

 

“Demand Registration”
shall have the meaning given in subsection 2.2.1.

 

“EarlyBirdCapital”
shall have the meaning given in the Preamble.

 

“EarlyBirdCapital
Holders” shall have the meaning given in the Preamble.

 

“Earn Out Shares”
shall have the meaning given in the Recitals hereto.

 

“Effectiveness Deadline”
shall have the meaning given in subsection 2.1.1.

 

“Exchange Act”
shall mean the Securities Exchange Act of 1934, as it may be amended from time to time.

 

“Existing Registration
Rights Agreement” shall have the meaning given in the Recitals hereto.

 

“FINRA”
means the Financial Industry Regulatory Authority, Inc. or any successor thereto.

 

“Form S-1 Shelf”
shall have the meaning given in subsection 2.1.2.

 

“Form S-3 Shelf”
shall have the meaning given in subsection 2.1.2.

 

“Founder Shares”
shall have the meaning given in the Recitals hereto.

 

“Founder Shares
Purchase Agreement” shall have the meaning given in the Recitals hereto.

 

“Leafly Demanding
Holders” shall have the meaning given in subsection 2.1.1.

 

“Leafly Holders”
shall have the meaning given in the Preamble.

 

“Leafly, Inc.”
shall have the meaning given in the Preamble.

  

“Lock-up Period”
shall mean, with respect to the Founder Shares and Merger Shares, the period ending 180 days following the Closing Date.

 

“Maximum Number
of Securities” shall have the meaning given in subsection 2.2.4.

 

“Misstatement”
shall mean an untrue statement of a material fact or an omission to state a material fact required to be stated therein, or necessary
to make the statements therein (in the case of any Prospectus or any preliminary Prospectus, in the light of the circumstances under which
they were made) not misleading.

 

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“Permitted Transferees”
shall mean a person or entity to whom a Sponsor Holder, EarlyBirdCapital Holder or a Leafly Holder of Registrable Securities is permitted
to Transfer such Registrable Securities prior to the expiration of the Lock-up Period, the bylaws of the Company as in effect from time
to time or any other applicable agreement between such Sponsor Holder, EarlyBirdCapital Holder or such Leafly Holder, as applicable, and
the Company.

 

“Person”
shall mean any individual, firm, corporation, partnership, limited liability company, incorporated or unincorporated association, joint
venture, joint stock company, governmental agency or instrumentality or other entity of any kind.

 

“Piggyback Registration”
shall have the meaning given in subsection 2.3.1.

 

“Private Placement
Warrants” shall have the meaning given in the Recitals hereto.

 

“Pro Rata”
shall have the meaning given in subsection 2.2.4.

 

“Prospectus”
shall mean the prospectus included in any Registration Statement, as supplemented by any and all prospectus supplements and as amended
by any and all post-effective amendments and including all material incorporated by reference in such prospectus.

 

“Registrable Security”
shall mean (a) any outstanding share of Common Stock and Private Placement Warrants of the Company held by a Holder (i) as of the date
of this Agreement or (ii) hereafter acquired by a Holder to the extent such shares of Common Stock or Private Placement Warrants are “restricted
securities” (as defined in Rule 144) or are otherwise held by an “affiliate” (as defined in Rule
144) of the Company; (b) any share of Common Stock issued upon the exercise of any Private Placement Warrants; (c) any share of Common
Stock issued or issuable as Earn Out Shares to the Leafly Holders including any equity security of the Company issued or issuable pursuant
to the Parent Earn Out Plan; and (d) any other equity security of the Company issued or issuable with respect to any such share of Common
Stock referred to in the foregoing clauses (a) through (d) by way of a stock dividend or stock split or in connection with a combination
of shares, recapitalization, merger, consolidation or other reorganization or otherwise; provided, however, that, as to any particular
Registrable Security, such securities shall cease to be Registrable Securities when: (i) a Registration Statement with respect to the
sale of such securities shall have become effective under the Securities Act and such securities shall have been sold, transferred, disposed
of or exchanged by the applicable Holder in accordance with such Registration Statement; (ii) such securities shall have been otherwise
transferred, new certificates for such securities not bearing (or book entry positions not subject to) a legend restricting further transfer
shall have been delivered by the Company and subsequent public distribution of such securities shall not require registration under the
Securities Act; (iii) such securities shall have ceased to be outstanding; or (iv) such securities have been sold to, or through, a broker,
dealer or underwriter in a public distribution or other public securities transaction.

 

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

 

“Registration Expenses”
shall mean the out-of-pocket expenses of a Registration, including, without limitation, the following:

 

(a) all registration and filing
fees (including fees with respect to filings required to be made with FINRA) and any national securities exchange on which the Common
Stock is then listed;

 

(b) fees and expenses of compliance
with securities or blue sky laws (including reasonable fees and disbursements of counsel for the Underwriters in connection with blue
sky qualifications of Registrable Securities);

 

(c) printing, messenger, telephone
and delivery expenses;

 

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(d) reasonable fees and disbursements
of counsel for the Company;

 

(e) reasonable fees and disbursements
of all independent registered public accountants of the Company incurred specifically in connection with such Registration; and

 

(g) reasonable fees and expenses
of one (1) legal counsel (and any local or foreign counsel) selected by (i) in the case of a Demand Registration pursuant to Section
2.2 or a Shelf Underwritten Offering pursuant to Section 2.1, a majority-in-interest of the Demanding Holders initiating a
Demand Registration or Shelf Underwritten Offering (including, without limitation, a Block Trade), as applicable, or (ii) in the case
of a Registration under Section 2.3 initiated by the Company for its own account or that of a Company stockholder other than pursuant
to rights under this Agreement, a majority-in-interest of participating Holders, in the case of (i) and (ii), not to exceed $50,000 without
the consent of the Company.

 

“Registration Statement”
shall mean any registration statement that covers the Registrable Securities pursuant to the provisions of this Agreement, including the
Prospectus included in such registration statement, amendments (including post-effective amendments) and supplements to such registration
statement, and all exhibits to and all material incorporated by reference in such registration statement.

 

“Removed Shares”
shall have the meaning given in Section 2.6.

 

“Representative
Shares” shall have the meaning given in the Recitals.

 

“Representative
Shares Purchase Agreement” shall have the meaning given in the Recitals.

 

“Requesting Holder”
shall have the meaning given in subsection 2.2.

 

“Securities Act”
shall mean the Securities Act of 1933, as amended from time to time.

 

“Shelf Takedown
Notice” shall have the meaning given in subsection 2.1.3.

 

“Shelf Underwritten
Offering” shall have the meaning given in subsection 2.1.3.

 

“Sponsor”
shall have the meaning given in the Preamble.

 

“Sponsor-EBC Demanding
Holders” shall have the meaning given in subsection 2.1.1.

 

“Sponsor Holders”
shall have the meaning given in the Preamble.

 

“Sponsor-Leafly
Holders” shall mean the Sponsor Holders together with the Leafly Holders.

 

“Transactions”
shall have the meaning given in the Recitals hereto.

 

“Transfer”
shall mean the (a) sale or assignment of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase
or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position
or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Exchange Act with
respect to, any security, (b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic
consequences of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise,
or (c) public announcement of any intention to effect any transaction specified in clause (a) or (b).

 

“Underwriter”
shall mean a securities dealer who purchases any Registrable Securities as principal in an Underwritten Offering and not as part of such
dealer’s market-making activities.

 

“Underwritten Registration”
or “Underwritten Offering” shall mean a Registration in which securities of the Company are sold to an Underwriter
in a firm commitment underwriting for distribution to the public.

 

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ARTICLE
II

REGISTRATIONS

 

2.1
Shelf Registration.

 

2.1.1
The Company shall, as soon as reasonably practicable, but in any event within thirty (30) days after the Closing Date (the “Filing
Deadline”), file a Registration Statement under the Securities Act to permit the public resale of all the Registrable Securities
held by the Holders from time to time as permitted by Rule 415 under the Securities Act (or any successor or similar provision adopted
by the Commission then in effect) on the terms and conditions specified in this subsection 2.1.1 and shall use its commercially
reasonable efforts to cause such Registration Statement to be declared effective as soon as practicable after the filing thereof, but
in no event later than sixty (60) days following the Filing Deadline (the “Effectiveness Deadline”); provided,
that the Effectiveness Deadline shall be extended to ninety (90) days after the Filing Deadline if the Registration Statement is reviewed
by, and receives comments from, the Commission. The Registration Statement filed with the Commission pursuant to this subsection 2.1.1
shall be on Form S-3 or, if Form S-3 is not then available to the Company, on Form S-1 or such other form of registration statement as
is then available to effect a registration for resale of such Registrable Securities, covering such Registrable Securities, and shall
contain a Prospectus in such form as to permit any Holder to sell such Registrable Securities pursuant to Rule 415 under the Securities
Act (or any successor or similar provision adopted by the Commission then in effect) beginning on the effective date for such Registration
Statement. A Registration Statement filed pursuant to this subsection 2.1.1 shall provide for the resale pursuant to any method
or combination of methods legally available to, and requested by, the Holders. The Company shall use its commercially reasonable efforts
to cause a Registration Statement filed pursuant to this subsection 2.1.1 to remain effective, and to be supplemented and amended
to the extent necessary to ensure that such Registration Statement is available or, if not available, that another Registration Statement
is available, for the resale of all the Registrable Securities held by the Holders until all such Registrable Securities have ceased to
be Registrable Securities. As soon as practicable following the effective date of a Registration Statement filed pursuant to this subsection
2.1.1, but in any event within three (3) business days of such date, the Company shall notify the Holders of the effectiveness of
such Registration Statement. When effective, a Registration Statement filed pursuant to this subsection 2.1.1 (including the documents
incorporated therein by reference) will comply as to form in all material respects with all applicable requirements of the Securities
Act and the Exchange Act and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated
therein or necessary to make the statements therein not misleading (in the case of any Prospectus contained in such Registration Statement,
in the light of the circumstances under which such statement is made).

 

2.1.2
If the Company files a shelf registration statement on Form S-3 (a “Form S-3 Shelf”) and thereafter the
Company becomes ineligible to use Form S-3 for secondary sales, the Company shall use its commercially reasonable efforts to file a shelf
registration on Form S-1 (a “Form S-1 Shelf”) as promptly as practicable to replace the Form S-3 Shelf and to
have the Form S-1 Shelf declared effective as promptly as practicable and to cause such Form S-1 Shelf to remain effective, and to be
supplemented and amended to the extent necessary to ensure that such Registration Statement is available or, if not available, that another
Registration Statement is available, for the resale of all the Registrable Securities held by the Holders until all such Registrable Securities
have ceased to be Registrable Securities. Upon such date as the Company becomes eligible to use Form S-3 for secondary sales or, in the
case of a Form S-1 Shelf filed to register the resale of Removed Shares pursuant to Section 2.6 hereof, upon such date as the Company
becomes eligible to register all of the Removed Shares for resale on a Form S-3 Shelf pursuant to the Commission Guidance and, if applicable,
without a requirement that any of the Sponsor-Leafly Holders be named as an “underwriter” therein, the Company
shall use its commercially reasonable efforts to file a Form S-3 Shelf as promptly as practicable to replace the applicable Form S-1 Shelf
and to have the Form S-3 Shelf declared effective as promptly as practicable and to cause such Form S-3 Shelf to remain effective, and
to be supplemented and amended to the extent necessary to ensure that such Registration Statement is available or, if not available, that
another Registration Statement is available, for the resale of all the Registrable Securities thereunder held by the applicable Holders
until all such Registrable Securities have ceased to be Registrable Securities.

 

    6

     

    

 

2.1.3
At any time and from time to time following the effectiveness of the shelf registration statement required by subsection 2.1.1,
any Holder may request to sell all or a portion of their Registrable Securities in an underwritten offering that is registered pursuant
to such shelf registration statement, including a Block Trade (a “Shelf Underwritten Offering”), provided that
such Holder(s) reasonably expects to sell Registrable Securities yielding aggregate gross proceeds in excess of $10,000,000 from such
Shelf Underwritten Offering (the “Minimum Amount”). All requests for a Shelf Underwritten Offering shall be
made by giving written notice to the Company (the “Shelf Takedown Notice”). Each Shelf Takedown Notice shall
specify the approximate number of Registrable Securities proposed to be sold in the Shelf Underwritten Offering and the expected price
range (net of underwriting discounts and commissions) of such Shelf Underwritten Offering. Promptly after receipt of any Shelf Takedown
Notice, the Company shall give written notice of such requested Shelf Underwritten Offering to all other Holders of Registrable Securities
(the “Company Shelf Takedown Notice”) and, subject to the provisions of subsection 2.2.4, shall include
in such Shelf Underwritten Offering all Registrable Securities with respect to which the Company has received written requests for inclusion
therein, within five (5) business days after sending the Company Shelf Takedown Notice, or, in the case of a Block Trade, as provided
in Section 2.5. The Company shall enter into an underwriting agreement in a form as is customary in Underwritten Offerings of securities
by the Company with the managing Underwriter or Underwriters selected by the Holders requesting such Shelf Underwritten Offering (which
managing Underwriter or Underwriters shall be subject to approval of the Company, which approval shall not be unreasonably withheld) and
shall take all such other reasonable actions as are requested by the managing Underwriter or Underwriters in order to expedite or facilitate
the disposition of such Registrable Securities in accordance with the terms of this Agreement. In connection with any Shelf Underwritten
Offering contemplated by this subsection 2.1.3, subject to Section 3.3 and Article IV, the underwriting agreement into which
each Holder and the Company shall enter shall contain such representations, covenants, indemnities and other rights and obligations as
are customary in underwritten offerings of securities by the Company. Notwithstanding any other provision of this Agreement to the contrary,
the Sponsor Holders and EarlyBirdCapital Holders, together, on the one hand, and the Leafly Holders, on the other hand, may each demand
not more than two (2) Shelf Underwritten Offerings, and the Company shall not be obligated to participate in more than four (4) Shelf
Underwritten Offerings, pursuant to this Section 2.1.3 in any twelve (12)-month period.

 

2.2
Demand Registration.

 

2.2.1
Request for Registration. Subject to the provisions of subsection 2.2.5 and Sections 2.4 and 3.4 hereof, at
any time and from time to time after the date the Closing Date, each of (a) the Sponsor Holders and EarlyBirdCapital Holders of at least
a majority in interest of the then-outstanding number of Registrable Securities held by the Sponsor Holders and EarlyBirdCapital Holders
(the “Sponsor-EBC Demanding Holders”) and (b) the Leafly Holders of at least a majority in interest of the then-outstanding
number of Registrable Securities held by the Leafly Holders (the “Leafly Demanding Holders”), may make a written
demand for Registration of all or part of their Registrable Securities, on (i) Form S-1 or (ii) if available, Form S-3, which in the case
of either clause (i) or (ii), may be a shelf registration statement filed pursuant to Rule 415 under the Securities Act, which written
demand shall describe the amount and type of securities to be included in such Registration and the intended method(s) of distribution
thereof (such written demand a “Demand Registration”). The Company shall, promptly following the Company’s
receipt of a Demand Registration, notify, in writing, all other Holders of Registrable Securities of such demand, and each Holder of Registrable
Securities who thereafter wishes to include all or a portion of such Holder’s Registrable Securities in a Registration pursuant
to a Demand Registration (each such Holder that includes all or a portion of such Holder’s Registrable Securities in such Registration,
a “Requesting Holder”) shall so notify the Company, in writing, within five (5) days after the receipt by the
Holder of the notice from the Company. For the avoidance of doubt, to the extent a Requesting Holder also separately possesses Demand
Registration rights pursuant to this Section 2.2, but is not the Holder who exercises such Demand Registration rights, the exercise
by such Requesting Holder of its rights pursuant to the foregoing sentence shall not count as the exercise by it of one of its Demand
Registration rights. Upon receipt by the Company of any such written notification from a Requesting Holder(s) to the Company, subject
to subsection 2.2.4 below, such Requesting Holder(s) shall be entitled to have their Registrable Securities included in a Registration
pursuant to a Demand Registration and the Company shall use its commercially reasonable efforts to file a registration statement on Form
S-1 or Form S-3, as applicable, as soon thereafter as practicable, but not more than forty-five (45) days following the Company’s
receipt of the Demand Registration, for Registration of all Registrable Securities requested by the Demanding Holders and Requesting Holders
pursuant to such Demand Registration. The Company shall not be obligated to effect more than (A) an aggregate of three (3) Registrations
pursuant to a Demand Registration initiated by the Sponsor Holders and/or EarlyBirdCapital Holders and (B) an aggregate of six (6) Registrations
pursuant to a Demand Registration initiated by the Leafly Holders, in each case under this subsection 2.2 with respect to any or
all Registrable Securities; provided, however, that a Registration shall not be counted for such purposes unless a Registration
Statement that may be available at such time has become effective and all of the Registrable Securities requested by the Requesting Holders
to be registered on behalf of the Demanding Holders and the Requesting Holders in such Registration have been sold, in accordance with
Section 3.1 of this Agreement; provided further, that, notwithstanding any other provision of this Agreement to the contrary, the
Sponsor Holders and EarlyBirdCapital Holders, on the one hand, and the Leafly Holders, on the other hand, may each demand not more than
two (2) Demand Registrations or Shelf Underwritten Offerings, and the Company shall not be obligated to participate in more than four
(4) Demand Registrations or Shelf Underwritten Offerings, in any twelve (12)-month period.

 

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2.2.2
Effective Registration. Notwithstanding the provisions of subsection 2.2 above or any other part of this Agreement,
a Registration pursuant to a Demand Registration shall not count as a Registration unless and until (a) the Registration Statement filed
with the Commission with respect to a Registration pursuant to a Demand Registration has been declared effective by the Commission and
(b) the Company has complied with all of its obligations under this Agreement with respect thereto; provided further, that if, after such
Registration Statement has been declared effective, an offering of Registrable Securities in a Registration pursuant to a Demand Registration
is subsequently interfered with by any stop order or injunction of the Commission, federal or state court or any other governmental agency
the Registration Statement with respect to such Registration shall be deemed not to have been declared effective unless and until (i)
such stop order or injunction is removed, rescinded or otherwise terminated and (ii) a majority-in-interest of the Demanding Holders initiating
such Demand Registration thereafter affirmatively elect to continue with such Registration and accordingly notify the Company in writing,
but in no event later than five (5) days after the removal, rescission or other termination of such stop order or injunction, of such
election; provided further, that the Company shall not be obligated or required to file another Registration Statement until the Registration
Statement that has been previously filed with respect to a Registration pursuant to a Demand Registration by the same Demanding Holder
becomes effective or is subsequently terminated.

 

2.2.3
Underwritten Offering. Subject to the provisions of subsection 2.2.4 and Sections 2.4 and 3.4 hereof, if a
majority-in-interest of the Demanding Holders so advise the Company as part of their Demand Registration that the offering of the Registrable
Securities pursuant to such Demand Registration shall be in the form of an Underwritten Offering, then the right of such Demanding Holder
or Requesting Holder (if any) to include its Registrable Securities in such Registration shall be conditioned upon such Holder’s
participation in such Underwritten Offering and the inclusion of such Holder’s Registrable Securities in such Underwritten Offering
to the extent provided herein. All such Holders proposing to distribute their Registrable Securities through an Underwritten Offering
under this subsection 2.2.3, subject to Section 3.3 and Article IV, shall enter into an underwriting agreement in customary
form with the Company and the Underwriter(s) selected for such Underwritten Offering by a majority-in-interest of the Demanding Holders
initiating the Demand Registration, which managing Underwriter or Underwriters shall be subject to approval of the Company, which approval
shall not be unreasonably withheld.

 

2.2.4
Reduction of Underwritten Offering. If a Demand Registration is to be an Underwritten Offering and the managing Underwriter
or Underwriters, in good faith, advises the Company, the Demanding Holders and the Requesting Holders (if any) in writing, in its or their
opinion, that the dollar amount or number of Registrable Securities that the Demanding Holders and the Requesting Holders (if any) desire
to sell, taken together with all other Common Stock or other equity securities that the Company desires to sell for its own account and
the shares of Common Stock, if any, that have been requested to be sold in such Demand Registration pursuant to separate written contractual
piggy-back registration rights held by any other stockholders of the Company, exceeds the maximum dollar amount or maximum number of equity
securities that can be sold in such Underwritten Offering without adversely affecting the proposed offering price, the timing, the distribution
method, or the probability of success of such offering (such maximum dollar amount or maximum number of such securities, as applicable,
the “Maximum Number of Securities”), then the Company shall include in such Underwritten Offering: (a) first,
the Registrable Securities of the Demanding Holders and the Requesting Holders (if any) (pro rata based on the total amount of Registrable
Securities held by each such Demanding Holder and Requesting Holder (if any) (such proportion is referred to herein as “Pro
Rata”)) that can be sold without exceeding the Maximum Number of Securities; (b) second, to the extent that the Maximum
Number of Securities has not been reached under the foregoing clause (a), the shares of Common Stock or other equity securities that the
Company desires to sell for its own account, which can be sold without exceeding the Maximum Number of Securities; and (c) third, to the
extent that the Maximum Number of Securities has not been reached under the foregoing clauses (a) and (b), the shares of Common Stock
or other equity securities of other Persons that the Company is obligated to include in such Demand Registration pursuant to separate
written contractual arrangements with such Persons and that can be sold without exceeding the Maximum Number of Securities.

 

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2.2.5
Demand Registration Withdrawal. A Demanding Holder or a Requesting Holder shall have the right to withdraw all or a portion
of its Registrable Securities included in a Demand Registration pursuant to subsection 2.2.1 or a Shelf Underwritten Offering pursuant
to subsection 2.1.3 for any or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters
(if any) of its intention to so withdraw at any time prior to (a) in the case of a Demand Registration not involving an Underwritten Offering,
the effectiveness of the applicable Registration Statement, or (b) in the case of any Demand Registration involving an Underwritten Offering
or any Shelf Underwritten Offering, prior to the filing of the applicable “red herring” prospectus or prospectus
supplement used for marketing such Underwritten Offering or Shelf Underwritten Offering; provided, however, that upon withdrawal by a
majority-in-interest of the Demanding Holders initiating a Demand Registration (or in the case of a Shelf Underwritten Offering, withdrawal
of an amount of Registrable Securities included by the Holders in such Shelf Underwritten Offering, in their capacity as Demanding Holders,
being less than the Minimum Amount), the Company shall cease all efforts to secure effectiveness of the applicable Registration Statement
or complete the Underwritten Offering, as applicable. If withdrawn, such requested Demand Registration or Shelf Underwritten Offering
shall constitute a demand for a Demand Registration or Shelf Underwritten Offering for purposes of Section 2.2.1 unless either
(i) the Demanding Holders have not previously withdrawn any Demand Registration or (ii) the Demanding Holders reimburse the Company for
all Registration Expenses with respect to such Underwritten Shelf Takedown. Notwithstanding anything to the contrary in this Agreement,
the Company shall be responsible for the Registration Expenses incurred in connection with a Registration pursuant to a Demand Registration
or a Shelf Underwritten Offering prior to and including its withdrawal under this subsection 2.2.5 unless the Demanding Holders
elect to pay such Registration Expenses pursuant to clause (ii) of this subsection 2.2.5.

 

2.3
Piggyback Registration.

 

2.3.1
Piggyback Rights. If the Company proposes to file a Registration Statement under the Securities Act with respect to an offering
of equity securities, or securities or other obligations exercisable or exchangeable for, or convertible into equity securities, for its
own account or for the account of stockholders of the Company (or by the Company and by the stockholders of the Company including, without
limitation, pursuant to Article II hereof), other than a Registration Statement (or any registered offering with respect thereto) (a)
filed in connection with any employee stock option or other benefit, (b) for an exchange offer or offering of securities solely to the
Company’s existing stockholders or pursuant to a Registration Statement on Form S-4 (or similar form that relates to a transaction
subject to Rule 145 under the Securities Act or any successor rule thereto), (c) for an offering of debt that is convertible into equity
securities of the Company, (d) filed in connection with an “at-the-market” offering or (e) for a dividend reinvestment
plan or a rights offering, then the Company shall give written notice of such proposed filing to all of the Holders of Registrable Securities
as soon as practicable but not less than ten (10) days (or, in the case of a Block Trade, three (3) business days) before the anticipated
filing date of such Registration Statement, which notice shall (i) describe the amount and type of securities to be included in such offering,
the intended method(s) of distribution (including whether such registration will be pursuant to a shelf registration statement), and the
proposed price and name of the proposed managing Underwriter or Underwriters, if any, in such offering, and (iii) offer to all of the
Holders of Registrable Securities (provided that, with respect to the Sponsor Holders and the EarlyBirdCapital Holders, no such notice
shall be required to the extent the Registrable Securities of such Holders are included in an effective shelf registration statement in
accordance with Section 2.1, if the date the notice is sent to Holders of Registrable Securities is more than three (3) months
prior to the expiration of the Lock-Up Period, then the notice is not required to be sent to the Holders of Founder Shares and Merger
Shares) the opportunity to register the sale of such number of Registrable Securities as such Holders may request in writing within five
(5) days after receipt of such written notice (or in the case of a Block Trade, within one (1) business day) (such Registration a “Piggyback
Registration”). The Company shall, in good faith, cause such Registrable Securities identified in a Holder’s response
notice described in the foregoing sentence to be included in such Piggyback Registration and shall use its commercially reasonable efforts
to cause the managing Underwriter or Underwriters of a proposed Underwritten Offering, if any, to permit the Registrable Securities requested
by the Holders pursuant to this subsection 2.3.1 to be included in a Piggyback Registration on the same terms and conditions as
any similar securities of the Company or Company stockholder(s) for whose account such Registration Statement is to be filed included
in such Registration and to permit the sale or other disposition of such Registrable Securities in accordance with the intended method(s)
of distribution thereof. All such Holders proposing to distribute their Registrable Securities through an Underwritten Offering under
this subsection 2.3.1, subject to Section 3.3 and Article IV, shall enter into an underwriting agreement in customary form
with the Underwriter(s) selected for such Underwritten Offering by the Company or the Holders as provided in subsection 2.1.3 or
subsection 2.2.3, as applicable. For purposes of this Section 2.3, the filing by the Company of an automatic shelf registration
statement for offerings pursuant to Rule 415(a) that omits information with respect to any specific offering pursuant to Rule 430B shall
not trigger any notification or participation rights hereunder until such time as the Company amends or supplements such Registration
Statement to include information with respect to a specific offering of Securities (and such amendment or supplement shall trigger the
notice and participation rights provided for in this Section 2.3).

 

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2.3.2 Reduction of
Piggyback Registration. If a Piggyback Registration is to be an Underwritten Offering and the managing Underwriter or
Underwriters, in good faith, advises the Company and the Holders of Registrable Securities participating in the Piggyback
Registration in writing, in its or their opinion, that the dollar amount or number of shares of Common Stock that the Company
desires to sell, taken together with (a) the shares of Common Stock, if any, as to which Registration has been demanded pursuant to
separate written contractual arrangements with Persons other than the Holders of Registrable Securities hereunder (b) the
Registrable Securities as to which registration has been requested pursuant Section 2.3.3 hereof, and (c) the shares of
Common Stock, if any, as to which Registration has been requested pursuant to separate written contractual piggy-back registration
rights of other stockholders of the Company, exceeds the Maximum Number of Securities, then:

 

2.3.2.1
if the Registration is undertaken for the Company’s account, the Company shall include in any such Registration (a) first,
the Common Stock or other equity securities that the Company desires to sell for its own account, which can be sold without exceeding
the Maximum Number of Securities; (b) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing
clause (a), the Registrable Securities of Holders exercising their rights to register their Registrable Securities pursuant to subsection
2.3.1 hereof, Pro Rata, which can be sold without exceeding the Maximum Number of Securities; and (c) third, to the extent that the
Maximum Number of Securities has not been reached under the foregoing clauses (a) and (b), the Common Stock, if any, as to which Registration
has been requested pursuant to written contractual piggy-back registration rights of other stockholders of the Company, which can be sold
without exceeding the Maximum Number of Securities; and

 

2.3.2.2
if the Registration is pursuant to a request by Persons other than the Holders of Registrable Securities, then the Company shall
include in any such Registration (a) first, the shares of Common Stock or other equity securities, if any, of such requesting Persons,
other than the Holders of Registrable Securities, which can be sold without exceeding the Maximum Number of Securities; (b) second, to
the extent that the Maximum Number of Securities has not been reached under the foregoing clause (a), the Registrable Securities of Holders
exercising their rights to register their Registrable Securities pursuant to subsection 2.3.1 hereof, Pro Rata, which can be sold
without exceeding the Maximum Number of Securities; (c) third, to the extent that the Maximum Number of Securities has not been reached
under the foregoing clauses (a) and (b), the Common Stock or other equity securities that the Company desires to sell for its own account,
which can be sold without exceeding the Maximum Number of Securities; and (d) fourth, to the extent that the Maximum Number of Securities
has not been reached under the foregoing clauses (a), (b) and (c), the Common Stock or other equity securities for the account of other
Persons that the Company is obligated to register pursuant to separate written contractual arrangements with such persons or entities,
which can be sold without exceeding the Maximum Number of Securities.

 

2.3.3
Piggyback Registration Withdrawal. Any Holder of Registrable Securities (other than a Demanding Holder, whose right to withdraw
from an Underwritten Shelf Takedown, and related obligations, shall be governed by subsection 2.2.5) shall have the right to withdraw
all or any portion of its Registrable Securities in a Piggyback Registration for any or no reason whatsoever upon written notification
to the Company and the Underwriter or Underwriters (if any) of his, her or its intention to withdraw such Registrable Securities from
such Piggyback Registration prior to (a) in the case of a Piggyback Registration not involving an Underwritten Offering or Shelf Underwritten
Offering, the effectiveness of the applicable Registration Statement, or (b), in the case of any Piggyback Registration involving an Underwritten
Offering or any Shelf Underwritten Offering, prior to the filing of the applicable “red herring” prospectus
or prospectus supplement used to market such Underwritten Offering or Shelf Underwritten Offering. The Company (whether on its own good
faith determination or as the result of a request for withdrawal by Persons pursuant to separate written contractual obligations) may
withdraw a Registration Statement filed with the Commission in connection with a Piggyback Registration at any time prior to the effectiveness
of such Registration Statement. Notwithstanding anything to the contrary in this Agreement (other than subsection 2.2.5), the Company
shall be responsible for the Registration Expenses incurred in connection with the Piggyback Registration prior to and including its withdrawal
under this subsection 2.3.3.

 

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2.3.4
Unlimited Piggyback Registration Rights. For purposes of clarity, any Registration effected pursuant to Section 2.33
hereof shall not be counted as a Registration pursuant to a Demand Registration effected under Section 2.12 hereof or a Shelf Underwritten
Offering effected under subsection 2.1.3.

 

2.4
Restrictions on Registration Rights. If (a) during the period starting with the date sixty (60) days prior to the Company’s
good faith estimate of the date of the filing of, and ending on a date one hundred and twenty (120) days after the effective date of,
a Company-initiated Registration and provided that the Company has delivered written notice to the Holders prior to receipt of a Demand
Registration pursuant to subsection 2.2 and it continues to actively employ, in good faith, all reasonable efforts to cause the
applicable Registration Statement to become effective; (b) the Holders have requested an Underwritten Registration and the Company and
the Holders are unable to obtain the commitment of underwriters to firmly underwrite such offering; or (c) in the good faith judgment
of the Board such Registration would be seriously detrimental to the Company and the Board concludes as a result that it is essential
to defer the filing of such Registration Statement at such time, then in each case the Company shall have the right to defer such filing
for a period of not more than sixty (60) consecutive days; provided, however, that the Company shall not defer its obligation in this
manner more than one hundred twenty (120) total calendar days in any twelve (12)-month period (the “Aggregate Blocking Period”).

  

2.5
Block Trades. Notwithstanding any other provision of this Article II, but subject to Sections 2.4 and 3.4,
if the Holders desire to effect a Block Trade, then notwithstanding any other time periods in this Article II, the Holders shall provide
written notice to the Company at least five (5) business days prior to the date such Block Trade will commence. As expeditiously as possible,
the Company shall use its commercially reasonable efforts to facilitate such Block Trade, provided that the Holders engaging in such Block
Trade use their reasonable best efforts to work with the Company and the Underwriters (including by disclosing the maximum number of Registrable
Securities proposed to be the subject of such Block Trade) in order to facilitate preparation of the Registration Statement, Prospectus
and other offering documentation related to the Block Trade and any related due diligence and comfort procedures. In the event of a Block
Trade, and after consultation with the Company, the Demanding Holders and the Requesting Holders (if any) shall determine the Maximum
Number of Securities, the underwriter or underwriters (which shall consist of one or more reputable nationally recognized investment banks)
and share price of such offering.

 

2.6
Rule 415; Removal. If at any time the Commission takes the position that the offering of some or all of the Registrable
Securities in a Registration Statement on Form S-3 filed pursuant to this Article II is not eligible to be made on a delayed or continuous
basis under the provisions of Rule 415 under the Securities Act (provided, however, that the Company shall be obligated to use diligent
efforts to advocate with the Commission for the registration of all of the Registrable Securities in accordance with the Commission Guidance,
including without limitation, Compliance and Disclosure Interpretation 612.09) or requires a Sponsor-Leafly Holder to be named as an “underwriter,”
the Company shall promptly notify each holder of Registrable Securities thereof (or in the case of the Commission requiring a Sponsor-Leafly
Holder to be named as an “underwriter,” the Sponsor-Leafly Holders) and the Company will use commercially reasonable efforts
to persuade the Commission that the offering contemplated by such Registration Statement is a valid secondary offering and not an offering
“by or on behalf of the issuer” as defined in Rule 415. In the event that the Commission refuses to alter its
position, the Company shall (a) remove from such Registration Statement such portion of the Registrable Securities (the “Removed
Shares”) and/or (b) agree to such restrictions and limitations on the registration and resale of the Registrable Securities
as the Commission may require to assure the Company’s compliance with the requirements of Rule 415; provided, however, that the
Company shall not agree to name any Sponsor-Leafly Holder as an “underwriter” in such Registration Statement
without the prior written consent of such Sponsor-Leafly Holder and, if the Commission requires such Sponsor-Leafly Holder to be named
as an “underwriter” in such Registration Statement, notwithstanding any provision in this Agreement to the contrary,
the Company shall not be under any obligation to include any Registrable Securities of such Sponsor-Leafly Holder in such Registration
Statement. In the event of a share removal pursuant to this Section 2.6, the Company shall give the applicable Holders at least
five (5) days prior written notice along with the calculations as to such Holder’s allotment. Any removal of shares of the Holders
pursuant to this Section 2.6 shall first be applied to Holders other than the Sponsor-Leafly Holders with securities registered
for resale under the applicable Registration Statement and thereafter allocated between the Sponsor-Leafly Holders on a pro rata basis
based on the aggregate amount of Registrable Securities held by the Sponsor-Leafly Holders. In the event of a share removal of the Holders
pursuant to this Section 2.6, the Company shall promptly register the resale of any Removed Shares pursuant to subsection 2.1.2
hereof and in no event shall the filing of such Registration Statement on Form S-1 or subsequent Registration Statement on Form S-3 filed
pursuant to the terms of subsection 2.1.2 be counted as a Demand Registration hereunder. Until such time as the Company has registered
all of the Removed Shares for resale pursuant to Rule 415 on an effective Registration Statement, the Company shall not be able to defer
the filing of a Registration Statement pursuant to Section 2.4 hereof.

 

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ARTICLE
III

COMPANY PROCEDURES

 

3.1
General Procedures. If the Company is required to effect the Registration of Registrable Securities, the Company shall use
its commercially reasonable efforts to effect such Registration to permit the sale of such Registrable Securities in accordance with the
intended plan of distribution thereof, and pursuant thereto the Company shall, as expeditiously as possible:

 

3.1.1
prepare and file with the Commission as soon as practicable a Registration Statement with respect to such Registrable Securities
and use its commercially reasonable efforts to cause such Registration Statement to become effective and remain effective until all Registrable
Securities covered by such Registration Statement have been sold;

 

3.1.2
prepare and file with the Commission such amendments and post-effective amendments to the Registration Statement, and such supplements
to the Prospectus, as may be reasonably requested by the Holders of at least five percent (5%) of the Registrable Securities registered
on such Registration Statement or any Underwriter of Registrable Securities or as may be required by the rules, regulations or instructions
applicable to the registration form used by the Company or by the Securities Act or rules and regulations thereunder to keep the Registration
Statement effective until all Registrable Securities covered by such Registration Statement are sold in accordance with the intended plan
of distribution set forth in such Registration Statement or supplement to the Prospectus;

 

3.1.3
prior to filing a Registration Statement or Prospectus, or any amendment or supplement thereto, furnish without charge to the Underwriters,
if any, and the Holders of Registrable Securities included in such Registration, and such Holders’ legal counsel, copies of such
Registration Statement as proposed to be filed, each amendment and supplement to such Registration Statement (in each case including all
exhibits thereto and documents incorporated by reference therein), the Prospectus included in such Registration Statement (including each
preliminary Prospectus), and such other documents as the Underwriters and the Holders of Registrable Securities included in such Registration
or the legal counsel for any such Holders may request in order to facilitate the disposition of the Registrable Securities owned by such
Holders;

 

3.1.4
prior to any public offering of Registrable Securities, but in any case no later than the effective date of the applicable Registration
Statement, use its commercially reasonable efforts to (a) register or qualify the Registrable Securities covered by the Registration Statement
under such securities or “blue sky” laws of such jurisdictions in the United States as the Holders of Registrable
Securities included in such Registration Statement (in light of their intended plan of distribution) may request to keep such registration
or qualification in effect for so long as such Registration Statement remains in effect and (b) take such action necessary to cause such
Registrable Securities covered by the Registration Statement to be registered with or approved by such other governmental authorities
as may be necessary by virtue of the business and operations of the Company or otherwise and do any and all other acts and things that
may be necessary or advisable, in each case, to enable the Holders of Registrable Securities included in such Registration Statement to
consummate the disposition of such Registrable Securities in such jurisdictions; provided, however, that the Company shall not be required
to qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify or take any action to which
it would be subject to general service of process or taxation in any such jurisdiction where it is not then otherwise so subject;

 

3.1.5
cause all such Registrable Securities to be listed on each securities exchange or automated quotation system on which similar securities
issued by the Company are then listed;

 

3.1.6
provide a transfer agent or warrant agent, as applicable, and registrar for all such Registrable Securities no later than the effective
date of such Registration Statement;

 

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3.1.7
promptly furnish to each seller of Registrable Securities covered by such Registration Statement such number of conformed copies
of such Registration Statement and of each such amendment and supplement thereto (in each case including all exhibits), such number of
copies of the Prospectus contained in such Registration Statement (including each preliminary Prospectus and any summary Prospectus) and
any other Prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and such
other documents as such seller may reasonably request;

 

3.1.8
notify each seller of such Registrable Securities, promptly after it shall receive notice or obtain knowledge thereof, of any request
by the Commission that the Company amend or supplement such Registration Statement or Prospectus or of the issuance of any stop order
by the Commission suspending the effectiveness of such Registration Statement or Prospectus or the initiation or threatening of any proceeding
for such purpose and promptly use its reasonable best efforts to amend or supplement such Registration Statement or Prospectus or prevent
the issuance of any stop order or to obtain its withdrawal if such stop order should be issued, as applicable;

  

3.1.9
notify each Holder of Registrable Securities covered by such Registration Statement, promptly after the Company receives notice
thereof, of the time when such Registration Statement has been declared effective or a supplement to any Prospectus forming a part of
such Registration Statement has been filed;

 

3.1.10
at least five (5) days prior to the filing of any Registration Statement or Prospectus or any amendment or supplement to such Registration
Statement or Prospectus furnish a copy thereof to each seller of such Registrable Securities or its counsel;

 

3.1.11
notify the Holders at any time when a Prospectus relating to such Registration Statement is required to be delivered under the
Securities Act, of the happening of any event or the existence of any condition as a result of which the Prospectus included in such Registration
Statement, as then in effect, includes a Misstatement, or in the opinion of counsel for the Company it is necessary to supplement or amend
such Prospectus to comply with law, and then to correct such Misstatement or include such information as is necessary to comply with law,
in each case as set forth in Section 3.4 hereof;

 

3.1.12
permit a representative of the Holders, the Underwriters, if any, and any attorney or accountant retained by such Holders or Underwriter,
at each such Person’s own expense, to participate in the preparation of any Registration Statement, and cause the Company’s
officers, directors and employees to supply all information reasonably requested by any such representative, Underwriter, attorney or
accountant in connection with such Registration Statement; provided, however, that if requested by the Company, such representatives
or Underwriters enter into a confidentiality agreement, in form and substance reasonably satisfactory to the Company, prior to the release
or disclosure of any such information;

 

3.1.13
obtain a “cold comfort” letter (including a bring-down letter dated as of the date the Registrable Securities
are delivered for sale pursuant to such Registration) from the Company’s independent registered public accountants in the event
of an Underwritten Offering, in customary form and covering such matters of the type customarily covered by “cold comfort”
letters as the managing Underwriter may reasonably request, and reasonably satisfactory to a majority-in-interest of the participating
Holders and the managing Underwriter;

 

3.1.14
on the date the Registrable Securities are delivered for sale pursuant to such Registration, obtain an opinion and negative assurance
letter, dated such date, of counsel representing the Company for the purposes of such Registration, addressed to the Holders, the placement
agent or sales agent, if any, and the Underwriters, if any, covering such legal matters with respect to the Registration in respect of
which such opinion is being given as the Holders, placement agent, sales agent, or Underwriter may reasonably request and as are customarily
included in such opinions and negative assurance letters, and reasonably satisfactory to a majority in interest of the participating Holders
and the managing Underwriter;

 

3.1.15
in the event of any Underwritten Offering, enter into and perform its obligations under an underwriting agreement, in usual and
customary form, with the managing Underwriter of such offering;

 

    13

     

    

 

3.1.16
otherwise use its commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and to
make available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve
(12) months beginning with the first day of the Company’s first full calendar quarter after the effective date of the Registration
Statement which satisfies the provisions of Section 11(a) of the Securities Act and the rules and regulations thereunder, including Rule
158 thereunder (or any successor rule promulgated thereafter by the Commission);

 

3.1.17
use its reasonable efforts to make available senior executives of the Company to participate in customary “road show”
presentations that may be reasonably requested by the Underwriter in any Underwritten Offering; and

 

3.1.18
otherwise, in good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by the Holders
in connection with such Registration.

 

3.2
Registration Expenses. The Registration Expenses of all Registrations shall be borne by the Company. It is acknowledged
by the Holders that the Holders shall bear all incremental selling expenses relating to the sale of Registrable Securities, such as Underwriters’
commissions and discounts, brokerage fees, and, other than as set forth in the definition of “Registration Expenses,” all
reasonable fees and expenses of any legal counsel representing the Holders.

 

3.3
Participation in Underwritten Offerings.

 

3.3.1
No Person may participate in any Underwritten Offering for equity securities of the Company pursuant to a Registration initiated
by the Company hereunder unless such Person (a) agrees to sell such Person’s securities on the basis provided in any underwriting
arrangements approved by the Company and (b) completes and executes all customary questionnaires, indemnities, lock-up agreements, underwriting
agreements and other customary documents as may be reasonably required under the terms of such underwriting arrangements.

 

3.3.2
Holders participating in an Underwritten Offering may, at their option, require that any or all of the representations and warranties
by, and the other agreements on the part of, the Company to and for the benefit of the Underwriters shall also be made to and for the
benefit of such Holders and that any or all of the conditions precedent to the obligations of such Underwriters shall also be made to
and for the benefit of such Holders; provided, however, that the Company shall not be required to make any representations or warranties
with respect to written information specifically provided by a Holder in writing for inclusion in the Registration Statement.

 

3.4
Suspension of Sales; Adverse Disclosure. Upon receipt of written notice from the Company that a Registration Statement or
Prospectus contains a Misstatement, or in the opinion of counsel for the Company it is necessary to supplement or amend such Prospectus
to comply with law, each of the Holders shall forthwith discontinue disposition of Registrable Securities until it has received copies
of a supplemented or amended Prospectus correcting the Misstatement or including the information counsel for the Company believes to be
necessary to comply with law (it being understood that the Company hereby covenants to prepare and file such supplement or amendment as
soon as practicable after the time of such notice such that the Registration Statement or Prospectus, as so amended or supplemented, as
applicable, will not include a Misstatement and complies with applicable law), or until it is advised in writing by the Company that the
use of the Prospectus may be resumed. If the filing, initial effectiveness or continued use of a Registration Statement in respect of
any Registration at any time would require the Company to make an Adverse Disclosure or would require the inclusion in such Registration
Statement of financial statements that are unavailable to the Company for reasons beyond the Company’s control, the Company may,
upon giving prompt written notice of such action to the Holders, delay the filing or initial effectiveness of, or suspend use of, such
Registration Statement for the shortest period of time, but in no event more than forty-five (45) days, determined in good faith by the
Chief Executive Officer of the Company or the Board to be necessary for such purpose; provided, that each day of any such suspension pursuant
to this Section 3.4 shall correspondingly decrease the Aggregate Blocking Period available to the Company during any twelve (12)-month
period pursuant to Section 2.4 hereof; and provided further that that notwithstanding the foregoing, (a) if the Company is unable
to file the Registration Statement or have it declared effective, as applicable, prior to the date on which the Company’s financial
statements for the nine (9)-months ended September 30, 2021 become stale, the Company shall be permitted to delay the filing of the Registration
Statement, or any required amendment to the Registration Statement to include the audited financial statements of the Company for the
year ended December 31, 2021, until no later than the date on which the Company would be required to file its Annual Report on Form 10-K
for the year ended December 31, 2021, and (b) if the Company is required to file a post-effective amendment to the Registration Statement
in order to include the audited consolidated financial statements of Leafly Holdings, Inc. for the year ended December 31, 2021 and update
certain disclosures in connection therewith, the use of Registration Statement prior to the SEC’s declaration of the effectiveness
of the post-effective amendment shall be suspended (together with clause (a), each an “Anticipated Suspension Event”),
and each Holder agrees that the occurrence of any Anticipated Suspension Event shall not count toward the forty five (45) total calendar
day period set forth above. In the event the Company exercises its rights under the preceding sentence, the Holders agree to suspend,
immediately upon their receipt of the notice referred to above, their use of the Prospectus relating to any Registration in connection
with any sale or offer to sell Registrable Securities. The Company shall immediately notify the Holders of the expiration of any period
during which it exercised its rights under this Section 3.4.

 

    14

     

    

 

3.5
Market Stand-off. In connection with any Underwritten Offering or Shelf Underwritten Offering of equity securities of the
Company (other than a Block Trade), if requested by the managing Underwriter(s), each participating Holder will agree that it shall not
Transfer any shares of Common Stock or other equity securities of the Company (other than those included in such offering pursuant to
this Agreement), without the prior written consent of the managing Underwriter(s), during a period the ninety (90)-day period beginning
on the date of pricing of such offering or such shorter period during which the Company agrees not to conduct an underwritten primary
offering of Common Stock, except in the event the Underwriters managing the offering otherwise agree by written consent. Each Holder agrees
to execute a customary lock-up agreement in favor of the Underwriters to such effect (in each case on substantially the same terms and
conditions as all such participating Holders).

 

3.6
Covenants of the Company. As long as any Holder shall own Registrable Securities, the Company hereby covenants and agrees:

 

3.6.1
the Company will not file any Registration Statement or Prospectus included therein or any other filing or document (other than
this Agreement) with the Commission which refers to any Holder of Registrable Securities by name without the prior written approval of
such Holder, which may not be unreasonably withheld, unless required by applicable law or the Commission Guidance;

 

3.6.2
at all times while it shall be a reporting company under the Exchange Act, to file timely (or obtain extensions in respect thereof
and file within the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to Sections
13(a) or 15(d) of the Exchange Act and to promptly furnish the Holders with true and complete copies of all such filings, provided that
any documents publicly filed or furnished with the Commission pursuant to the Electronic Data Gathering Analysis and Retrieval System
(or any successor thereto) shall be deemed to have been furnished to the Holders pursuant to this subsection 3.5.2. The Company
further covenants that it shall take such further action as any Holder may reasonably request, all to the extent required from time to
time to enable such Holder to sell shares of Common Stock held by such Holder without registration under the Securities Act within the
limitation of the exemptions provided by Rule 144 promulgated under the Securities Act (or any successor rule promulgated thereafter by
the Commission). Upon the request of any Holder, the Company shall deliver to such Holder a written certification of a duly authorized
officer as to whether it has complied with such requirements; and

 

3.6.3
upon request of a Holder, the Company shall (i) authorize the Company’s transfer agent to remove any legend on share certificates
of such Holder’s Common Stock or Private Placement Warrants restricting further transfer (or any similar restriction in book entry
positions of such Holder) if such restrictions are no longer required by the Securities Act or any applicable state securities laws or
any agreement with the Company to which such Holder is a party, including if such shares subject to such a restriction have been sold
pursuant to a Registration Statement, (ii) request the Company’s transfer agent to issue in lieu thereof shares of Common Stock
or Private Placement Warrants without such restrictions to the Holder upon, as applicable, surrender of any stock certificates evidencing
such shares of Common Stock, or warrant certificates evidencing such Private Placement Warrants or to update the applicable book entry
position of such Holder so that it no longer is subject to such a restriction, and (iii) use commercially reasonable efforts to cooperate
with such Holder to have such Holder’s shares of Common Stock or Private Placement Warrants, as the case may be, transferred into
a book-entry position at The Depository Trust Company, in each case, subject to delivery of customary documentation, including any documentation
required by such restrictive legend or book-entry notation.

 

    15

     

    

 

ARTICLE
IV

INDEMNIFICATION AND CONTRIBUTION

 

4.1
Indemnification.

 

4.1.1
The Company agrees to indemnify, to the extent permitted by law, each Holder of Registrable Securities, its officers, directors
and agents and each Person who controls such Holder (within the meaning of the Securities Act) from and against all losses, claims, damages,
liabilities and out-of-pocket expenses (including reasonable attorneys’ fees) (or actions or proceedings, whether commenced or threatened,
in respect thereof) (collectively, “Claims”), resulting from any untrue or alleged untrue statement of any material
fact contained in any Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any
omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading;
except insofar as the Claim arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission
made in such filing in reliance upon and in conformity with information furnished in writing to the Company by such Holder expressly for
use therein.

 

4.1.2
In connection with any Registration Statement in which a Holder of Registrable Securities is participating, the Company may require
that, as a condition to including any Registrable Securities in any Registration Statement the Company shall have received an undertaking
reasonably satisfactory to it from such Holder, to indemnify the Company, its directors and officers and agents and each Person who controls
the Company (within the meaning of the Securities Act) from and against Claims resulting from any untrue statement of any material fact
contained in the Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission
of a material fact required to be stated therein or necessary to make the statements therein not misleading, but only to the extent that
such untrue statement or omission is contained in any information so furnished in writing by such Holder expressly for use therein; provided,
however, that the obligation to indemnify shall be several, not joint and several, among such Holders of Registrable Securities, and the
liability of each such Holder of Registrable Securities shall be in proportion to and limited to the net proceeds received by such Holder
from the sale of Registrable Securities pursuant to such Registration Statement. The Holders of Registrable Securities shall indemnify
the Underwriters, their officers, directors and each Person who controls such Underwriters (within the meaning of the Securities Act)
to the same extent as provided in the foregoing with respect to indemnification of the Company. If any Underwriter shall require any Holder
of Registrable Securities to provide any indemnification other than that provided hereinabove in this subsection 4.1.2, such Holder
may elect not to participate in such Underwritten Offering (but shall not have any claim against the Company as a result of such election).

 

4.1.3
Any Person entitled to indemnification herein shall (a) give prompt written notice to the indemnifying party of any Claim with
respect to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any person’s right to
indemnification hereunder to the extent such failure has not materially prejudiced the indemnifying party) and (b) unless in such indemnified
party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to such
Claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party.
An indemnifying party who is not entitled to, or elects not to, assume the defense of a Claim shall not be obligated to pay the fees and
expenses of more than one (1) counsel for all parties indemnified by such indemnifying party with respect to such Claim, unless in the
reasonable judgment of any indemnified party a conflict of interest may exist between such indemnified party and any other of such indemnified
parties with respect to such Claim. No indemnifying party shall, without the consent of the indemnified party, consent to the entry of
any judgment or enter into any settlement which cannot be settled in all respects by the payment of money (and such money is so paid by
the indemnifying party pursuant to the terms of such settlement) and which settlement includes a statement or admission of fault or culpability
on the part of such indemnified party or does not include as an unconditional term thereof the giving by the claimant or plaintiff to
such indemnified party of a release from all liability in respect to such claim or litigation.

 

4.1.4
The indemnification provided for under this Agreement shall remain in full force and effect regardless of any investigation made
by or on behalf of the indemnified party or any officer, director, partners, stockholders or members, employees, agents, investment advisors
or controlling person of such indemnified party and shall survive the Transfer of Registrable Securities. The Company and each Holder
of Registrable Securities participating in a Registration also agrees to make such provisions as are reasonably requested by any indemnified
party for contribution to such party in the event the Company’s or such Holder’s indemnification is unavailable for any reason.

 

    16

     

    

 

4.1.5
If the indemnification provided under Section 4.1 hereof from the indemnifying party is unavailable or insufficient to hold
harmless an indemnified party in respect of any Claims, then the indemnifying party, in lieu of indemnifying the indemnified party, shall
contribute to the amount paid or payable by the indemnified party as a result of such Claims (a) in such proportion as is appropriate
to reflect the relative benefits received by the indemnifying party or parties on the one hand and the indemnified party or parties on
the other hand from the offering of the Registrable Securities or (b) if the allocation provided by clause (a) above is not permitted
by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (a) above but
also to reflect the relative fault of the indemnifying party or parties on the other hand in connection with the statements or omissions
that resulted in such Claims, as well as any other relevant equitable considerations. The relative fault of the indemnifying party and
indemnified party shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged
untrue statement of a material fact or omission or alleged omission to state a material fact, was made by, or related to information supplied
by, such indemnifying party or indemnified party, and the indemnifying party’s and indemnified party’s relative intent, knowledge,
access to information and opportunity to correct or prevent such action; provided, however, that the liability of any Holder or any director,
officer, agent or controlling Person thereof under this subsection 4.1.5 shall be limited to the amount of the net proceeds received
by such Holder in such offering giving rise to such liability. The amount paid or payable by a party as a result of the losses or other
liabilities referred to above shall be deemed to include, subject to the limitations set forth in subsections 4.1.1, 4.1.2 and
4.1.3 above, any legal or other fees, charges or expenses reasonably incurred by such party in connection with any investigation or proceeding.
The parties hereto agree that it would not be just and equitable if contribution pursuant to this subsection 4.1.5 were determined
by pro rata allocation or by any other method of allocation, which does not take account of the equitable considerations referred to in
this subsection 4.1.5. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities
Act) shall be entitled to contribution pursuant to this subsection 4.1.5 from any person who was not guilty of such fraudulent
misrepresentation.

 

ARTICLE
V

MISCELLANEOUS

 

5.1
Notices. Any notice or communication under this Agreement must be in writing and given by (a) deposit in the United States
mail, addressed to the party to be notified, postage prepaid and registered or certified with return receipt requested, (b) delivery in
person or by courier service providing evidence of delivery, or (c) transmission by hand delivery, electronic mail, telecopy, telegram
or facsimile. Each notice or communication that is mailed, delivered, or transmitted in the manner described above shall be deemed sufficiently
given, served, sent, and received, in the case of mailed notices, on the third business day following the date on which it is mailed and,
in the case of notices delivered by courier service, hand delivery, electronic mail, telecopy, telegram or facsimile, at such time as
it is delivered to the addressee (with the delivery receipt or the affidavit of messenger) or at such time as delivery is refused by the
addressee upon presentation. Any notice or communication under this Agreement must be addressed, if to the Company, to: Leafly Holdings,
Inc., 333 Elliott Avenue West Suite 200 Seattle, WA 98119 Attn: Yoko Miyashita, and, if to any Holder, at such Holder’s address,
e-mail address or facsimile number as set forth in the Company’s books and records. Any party may change its address for notice
at any time and from time to time by written notice to the other parties hereto, and such change of address shall become effective thirty
(30) days after delivery of such notice as provided in this Section 5.1.

 

5.2
Assignment; No Third Party Beneficiaries.

 

5.2.1
This Agreement and the rights, duties and obligations of the Company hereunder may not be assigned or delegated by the Company
in whole or in part.

 

    17

     

    

 

5.2.2
Prior to the expiration of the Lock-up Period, no Holder may assign or delegate such Holder’s rights, duties or obligations
under this Agreement, in whole or in part, except in connection with a Transfer of Registrable Securities by such Holder to a Permitted
Transferee.

 

5.2.3
Subject to subsection 5.2.2, a Holder may assign or delegate such Holder’s rights, duties or obligations under this
Agreement, in whole or in part, to any Person to whom it Transfers Registrable Securities, provided that such Registrable Securities remain
Registrable Securities following such Transfer and such Person agreed to become bound by the terms and provisions of this Agreement in
accordance with subsection 5.2.6.

 

5.2.4
This Agreement and the provisions hereof shall be binding upon and shall inure to the benefit of each of the parties and their
respective successors and the permitted assigns of the applicable Holders, which shall include Permitted Transferees.

 

5.2.5
This Agreement shall not confer any rights or benefits on any persons that are not parties hereto, other than as expressly set
forth in this Agreement and Section 5.2 hereof.

 

5.2.6
No assignment by any party hereto of such party’s rights, duties and obligations hereunder shall be binding upon or obligate
the Company unless and until the Company shall have received (a) written notice of such assignment as provided in Section 5.1 hereof
and (b) the written agreement of the assignee, in a form reasonably satisfactory to the Company, to be bound by the terms and provisions
of this Agreement (which may be accomplished by an addendum or certificate of joinder to this Agreement). Any Transfer or assignment made
other than as provided in this Section 5.2 shall be null and void.

 

5.3
Counterparts. This Agreement may be executed in multiple counterparts (including facsimile or PDF counterparts), each of
which shall be deemed an original, and all of which together shall constitute the same instrument, but only one of which need be produced.

 

5.4
Governing Law; Venue. NOTWITHSTANDING THE PLACE WHERE THIS AGREEMENT MAY BE EXECUTED BY ANY OF THE PARTIES HERETO, THE PARTIES
EXPRESSLY AGREE THAT THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS OF THE STATE OF DELAWARE, WITHOUT GIVING EFFECT
TO PRINCIPLES OR RULES OF CONFLICT OF LAWS TO THE EXTENT SUCH PRINCIPLES OR RULES WOULD REQUIRE OR PERMIT THE APPLICATION OF THE LAWS
OF ANOTHER JURISDICTION.

 

5.5
Jurisdiction; Waiver of Jury Trial. Any action based upon, arising out of or related to this Agreement, or the transactions
contemplated hereby, shall be brought in the Court of Chancery of the State of Delaware or, if such court declines to exercise jurisdiction,
any federal or state court located in New York County, New York, and each of the parties irrevocably submits to the exclusive jurisdiction
of each such court in any such action, waives any objection it may now or hereafter have to personal jurisdiction, venue or to convenience
of forum, agrees that all claims in respect of the action shall be heard and determined only in any such court, and agrees not to bring
any action arising out of or relating to this Agreement or the transactions contemplated hereby in any other court. Nothing herein contained
shall be deemed to affect the right of any party to serve process in any manner permitted by law, or to commence legal proceedings or
otherwise proceed against any other party in any other jurisdiction, in each case, to enforce judgments obtained in any action brought
pursuant to this Section 5.5.

 

5.6
Amendments and Modifications. Upon the written consent of the Company and the Holders of at least a majority in interest
of the Registrable Securities at the time in question, compliance with any of the provisions, covenants and conditions set forth in this
Agreement may be waived, or any of such provisions, covenants or conditions may be amended or modified; provided, however,
that notwithstanding the foregoing, (a) any amendment hereto or waiver hereof that would materially and adversely affect a Holder of at
least one percent (1%) of the Registrable Securities, solely in its capacity as a holder of the shares of capital stock of the Company,
in a manner that is adverse and different from the other Holders (solely in their capacities as holders of the shares of capital stock
of the Company) shall require the consent of the Holder so affected, (b) any amendment hereto or waiver hereof that adversely affects
any of the material rights of the Sponsor Holders, EarlyBirdCapital Holders, or Leafly Holders, as applicable, solely in their respective
capacities as Sponsor Holders, EarlyBirdCapital Holders, or Leafly Holders, as applicable, in a manner that is adverse and different from
the other Holders, shall require the consent of the Sponsor Holders, EarlyBirdCapital Holders, or Leafly Holders, as applicable, representing
a majority-in-interest of the then-outstanding number of Registrable Securities held by the Sponsor Holders, EarlyBirdCapital Holders,
or Leafly Holders, as applicable. No course of dealing between any Holder or the Company and any other party hereto or any failure or
delay on the part of a Holder or the Company in exercising any rights or remedies under this Agreement shall operate as a waiver of any
rights or remedies of any Holder or the Company. No single or partial exercise of any rights or remedies under this Agreement by a party
shall operate as a waiver or preclude the exercise of any other rights or remedies hereunder or thereunder by such party.

 

    18

     

    

 

5.7
Other Registration Rights. The Company represents and warrants that no person, other than a Holder of Registrable Securities,
has any right to require the Company to register any securities of the Company for sale or to include such securities of the Company in
any Registration filed by the Company for the sale of securities for its own account or for the account of any other Person. Further,
the Company and each of the Holders agree that this Agreement supersedes any other registration rights agreement or agreement with similar
terms and conditions among the parties hereto and in the event of a conflict between any such agreement or agreements and this Agreement,
the terms of this Agreement shall prevail.

 

5.8
Term. This Agreement shall terminate (a) as to all Holders and the Company, upon the earlier of the date as of which all
of the Registrable Securities have been sold pursuant to a Registration Statement (but in no event prior to the applicable period referred
to in Section 4(a)(3) of the Securities Act and Rule 174 thereunder (or any successor rule promulgated thereafter by the Commission))
or (b) as to any Holder individually, the date on which such Holder no longer holds any Registrable Securities or is permitted to sell
all of such Holder’s Registrable Securities under Rule 144 (or any similar provision) under the Securities Act without limitation
on the amount of securities sold or the manner of sale and because the reporting requirements of Rule 144(i)(2) are not applicable. The
provisions of Section 3.5 and Article IV shall survive any termination.

 

5.9
Holder Information. Each Holder agrees, if requested in writing, to represent to the Company the total number of Registrable
Securities held by such Holder in order for the Company to make determinations hereunder.

 

[SIGNATURE PAGES FOLLOW]

 

    19

     

    

 

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

 

	 	COMPANY:
	 	 
	 	LEAFLY HOLDINGS, INC.,
	 	a Delaware corporation
	 	 	 
	 	By:	/s/ Yoko Miyashita
	 	 	Name: 	Yoko Miyashita
	 	 	Title:	Chief Executive Officer

 

[Signature Page to Registration Rights Agreement]

 

     

     

    

 

	 	SPONSOR HOLDERS (1/2):
	 	 	 	 

	 	MERIDA HOLDINGS, LLC,
	 	a Delaware limited liability company
	 	 	 	 
	 	By:	/s/ Peter Lee
	 	 	Name:	Peter Lee
	 	 	Title:	President

 

	 	MERIDA HOLDINGS, LLC,
	 	a Delaware limited liability company
	 	 
	 	By:	/s/ David K. Sherman
	 	 	Name:	David K. Sherman
	 	 	Title:	Authorized Agent as Investment Adviser

 

	 	CROSSINGBRIDGE LOW DURATION HIGH YIELD FUND
	 	 
	 	By:	/s/ David K. Sherman
	 	 	Name:	David K. Sherman
	 	 	Title:	Authorized Agent as Investment Adviser
	 	 	 	 
	 	DESTINATIONS LOW DURATION FIXED INCOME FUND
	 	 
	 	By:	/s/ David K. Sherman
	 	 	Name:	David K. Sherman
	 	 	Title:	Authorized Agent as Investment Adviser
	 	 	 	 
	 	LEAFFILTER NORTH HOLDINGS INC.
	 	 
	 	By:	/s/ David K. Sherman
	 	 	Name:	David K. Sherman
	 	 	Title:	Authorized Agent as Investment Adviser
	 	 	 	 
	 	OLSONUBBEN LLC
	 	 
	 	By:	/s/ David K. Sherman
	 	 	Name:	David K. Sherman
	 	 	Title:	Authorized Agent as Investment Adviser
	 	 	 	 
	 	DESTINATIONS GLOBAL FIXED INCOME OPPORTUNITIES FUND
	 	 
	 	By:	/s/ David K. Sherman
	 	 	Name:	David K. Sherman
	 	 	Title:	Authorized Agent as Investment Adviser

 

[Signature Page to Registration Rights Agreement]

  

     

     

    

 

	 	SPONSOR HOLDERS (2/2):
	 	 	 	 
	 	RIVERPARK STRATEGIC INCOME FUND
	 	 
	 	By:	/s/ David K. Sherman
	 	 	Name:	David K. Sherman
	 	 	Title:	Authorized Agent as Investment Adviser
	 	 	 	 
	 	RIVERPARK STRATEGIC INCOME FUND
	 	 
	 	By:	/s/ David K. Sherman
	 	 	Name:	David K. Sherman
	 	 	Title:	Authorized Agent as Investment Adviser

 

[Signature Page to Registration Rights Agreement]

 

     

     

    

 

	 	EARLYBIRDCAPITAL HOLDERS (1/2):
	 	 	 	 
	 	EBC HOLDINGS, INC.,
	 	a New York corporation
	 	 
	 	By:	/s/ Steven Levine
	 	 	Name:	Steven Levine
	 	 	Title:	CEO
	 	 	 	 
	 	By:	/s/ Jillian Carter
	 	 	Name:	Jillian Carter
	 	 	 	 
	 	By:	/s/ Jackie Chang 
	 	 	Name:	Jackie Chang
	 	 	 	 
	 	By:	/s/ Mauro Conijeski 
	 	 	Name:	Mauro Conijeski
	 	 	 	 
	 	By:	/s/ Gleeson Cox
	 	 	Name:	Gleeson Cox
	 	 	 	 
	 	By:	/s/ Tracy Fezza
	 	 	Name:	Tracy Fezza
	 	 	 	 
	 	By:	/s/ Robert Gladstone
	 	 	Name:	Robert Gladstone
	 	 	 	 
	 	By:	/s/ Amy Kaufmann
	 	 	Name:	Amy Kaufmann
	 	 	 	 
	 	By:	/s/ Ed Kovary
	 	 	Name:	Ed Kovary

 

[Signature Page to Registration Rights Agreement]

 

     

     

    

 

	 	EARLYBIRDCAPITAL HOLDERS (2/2):
	 	 	 	 
	 	FIDELITY CLEARING CANADA LLC ITF
	 	ECHELON WEALTH PARTNERS
	 	 
	 	By:	/s/ Peter Graham
	 	 	Name:	Peter Graham
	 	 	Title:	Managing Director
	 	 	 	 
	 	By:	/s/ Steven Levine
	 	 	Name:	Steven Levine
	 	 	 	 
	 	By:	/s/ Colleen McGlynn
	 	 	Name:	Colleen McGlynn
	 	 	 	 
	 	By:	/s/ Joseph Mongiello
	 	 	Name:	Joseph Mongiello
	 	 	 	 
	 	By:	/s/ Eileen Moore
	 	 	Name:	Eileen Moore
	 	 	 	 
	 	By:	/s/ David Nussbaum
	 	 	Name:	David Nussbaum
	 	 	 	 
	 	By:	/s/ Richard Michael Powell
	 	 	Name:	Richard Michael Powell
	 	 	 	 
	 	By:	/s/ Marc Van Tricht
	 	 	Name:	Marc Van Tricht

 

[Signature Page to Registration Rights Agreement]

 

     

     

    

 

	 	LEAFLY HOLDERS:
	 	 
	 	/s/ Brendan Kennedy
	 	Brendan Kennedy

 

[Signature Page to Registration Rights Agreement]

 

     

     

    

 

	 	LEAFLY HOLDERS:
	 	 
	 	KENNEDY FAMILY 2016 IRREVOCABLE TRUST UA
	 	DATED 12/1/2016
	 	 
	 	By:	/s/ David P Reinhardt
	 	 	Name:	David Reinhardt
	 	 	Title:	Trustee

 

[Signature Page to Registration Rights Agreement]

 

     

     

    

 

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

 

	 	LEAFLY HOLDERS:
	 	 
	 	/s/ Yoko Miyashita
	 	Yoko Miyashita

 

[Signature Page to Registration Rights Agreement]

 

     

     

    

 

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

 

	 	LEAFLY HOLDERS:
	 	 
	 	/s/ Michael Blue
	 	Michael Blue

 

[Signature Page to Registration Rights Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00339-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00339-of-00352.parquet"}]]