Document:

Exhibit 10.1

 

AMENDMENT TO

LETTER AGREEMENT

 

September 1, 2022

 

Reference is made to the Letter
Agreement (the “Letter Agreement”), dated as of March 1, 2021, by and among TCW Special Purpose Acquisition
Corp., a Delaware corporation (the “Company”), TCW Special Purpose Sponsor LLC (the “Sponsor”)
and the undersigned directors and executives of the Company (the “Insiders”). Capitalized terms used in this
Amendment to the Letter Agreement (the “Amendment”) not defined herein shall have the meanings assigned to them
in the Letter Agreement.

 

WHEREAS, the Company
has filed a Corrected Certificate of Second Amended and Restated Certificate of Incorporation to correct an inaccuracy in the description
of the period of time the Company has to complete its initial business combination;

 

WHEREAS, Section 2
of the Letter Agreement similarly erroneously describes the period of time from the closing of the Company’s Public Offering in
which the Company has to complete its initial Business Combination as “24 months from the closing of the Public Offering”;

 

WHEREAS, the parties
to the Letter Agreement intended that such period be consistent with the Company’s Second Amended and Restated Certificate of Incorporation,
and therefore such period should be described as “24 months from the closing of the Public Offering (or 27 months from the closing
of the Public Offering if the Company has executed a letter of intent, agreement in principle or definitive agreement for an initial Business
Combination within 24 months from the closing of the Public Offering)”; and

 

WHEREAS, the Letter
Agreement provides that the correction of a typographical error in the Letter Agreement may be done without a signed writing of the parties
and the Letter Agreement may also be changed, amended, modified or waived by a written instrument executed by the Insiders that are the
subject of any such change and the Sponsor.

 

NOW, THEREFORE, Section
2 of the Letter Agreement shall be amended accordingly, and each reference in the Letter Agreement to “24 months from the closing
of the Public Offering” is hereby corrected and amended to read as “24 months from the closing of the Public Offering (or
27 months from the closing of the Public Offering if the Company has executed a letter of intent, agreement in principle or definitive
agreement for an initial Business Combination within 24 months from the closing of the Public Offering).” The corrected form of
the Letter Agreement, as so amended, is attached hereto as Exhibit A.

 

The corrected form of the
Letter Agreement, as amended, attached hereto as Exhibit A constitutes the entire agreement and understanding of the parties hereto in
respect of the subject matter hereof and supersedes all prior understandings, agreements, or representations by or among the parties hereto,
written or oral, including the Letter Agreement dated March 1, 2021.

 

Except as expressly set forth
above, this Amendment does not amend, modify or waive any of the terms of the Letter Agreement or any other documents referred to therein.
Each party represents and warrants that such party has full power and authority to enter into this Amendment and that this Amendment constitutes
a valid and binding obligation of such party enforceable against such party in accordance with its terms. This Amendment may be signed
in any number of counterparts (including by electronic transmission in .PDF or other equivalent formats or by facsimile or electronic
signature), each of which shall be an original with the same effect as if the signatures thereto and hereto were upon the same instrument.

 

     

     

    

 

IN WITNESS WHEREOF, each of the undersigned
has executed this Amendment to be effective as of the date first set forth above.

 

	 	TCW SPECIAL PURPOSE SPONSOR LLC
	 	 
	 	By:	/s/ Joseph R. Shaposhnik
	 	 	Name: 	Joseph R. Shaposhnik
	 	 	Title:	Chief Executive Officer

 

	 	 	/s/ Joseph R. Shaposhnik
	 	 	Name: 	Joseph R. Shaposhnik
	 	 	 
	 	 	/s/ Richard Villa
	 	 	Name:	Richard Villa
	 	 	 
	 	 	/s/ Leo L. Chan
	 	 	Name:	Leo L. Chan
	 	 	 
	 	 	/s/ Meredith Jackson
	 	 	Name:	Meredith Jackson
	 	 	 
	 	 	/s/ Carol P. Lowe
	 	 	Name:	Carol P. Lowe

 

Acknowledged and Agreed:

 

TCW SPECIAL PURPOSE ACQUISITION CORP.

 

	By:	/s/ Joseph R. Shaposhnik	 
	 	Name: 	Joseph R. Shaposhnik	 
	 	Title:	Chief Executive Officer	 

 

[Signature Page to Amendment to the Letter Agreement]

 

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EXHIBIT A

 

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March 1, 2021

 

TCW Special Purpose Acquisition Corp.

865 S. Figueroa St., Suite 1800

Los Angeles, CA 90017

 

		Re:	Initial Public Offering

 

Ladies and Gentlemen:

 

This letter (this “Letter
Agreement”) is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
entered into by and between TCW Special Purpose Acquisition Corp., a Delaware corporation (the “Company”),
and Citigroup Global Markets Inc. and Barclays Capital Inc., as representatives (the “Representatives”) of the
several underwriters named therein (each an “Underwriter” and collectively, the “Underwriters”),
relating to an underwritten initial public offering (the “Public Offering”), of up to 51,750,000 of the
Company’s units (including up to 6,750,000 units that may be purchased to cover over-allotments, if any) (the “Units”),
each comprised of one share of the Company’s Class A common stock, par value $0.0001 per share (“Class A Common Stock”),
and one-third of one redeemable warrant. Each whole warrant (a “Warrant”) entitles the holder thereof to purchase
one share of Class A Common Stock at a price of $11.50 per share, subject to adjustment as described in the Prospectus (as defined below).
The Units will be sold in the Public Offering pursuant to registration statements on Form S-1 and a prospectus (the “Prospectus”)
filed by the Company with the U.S. Securities and Exchange Commission (the “Commission”) and the Company has
applied to have the Units listed on the New York Stock Exchange. Certain capitalized terms used herein are defined in paragraph 11 hereof.

 

In order to induce the Company
and the Underwriters to enter into the Underwriting Agreement and to proceed with the Public Offering and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, each of TCW Special Purpose Sponsor LLC (the “Sponsor”)
and the undersigned individuals, each of whom is a member of the Company’s board of directors and/or management team (each of the
undersigned individuals, an “Insider” and collectively, the “Insiders”), hereby
agrees, severally but not jointly, with the Company as follows:

 

1. The
Sponsor and each Insider agrees that if the Company seeks stockholder approval of a proposed Business Combination, then in connection
with such proposed Business Combination, it, he or she shall (i) vote any shares of Common Stock (as defined below) owned by it, him or
her in favor of any proposed Business Combination (including any proposals recommended by the Company’s board of directors in connection
with such Business Combination) and (ii) not redeem any shares of Common Stock owned by it, him or her in connection with such stockholder
approval. If the Company seeks to consummate a proposed Business Combination by engaging in a tender offer, the Sponsor and each Insider
agrees that it, he or she will not sell or tender any shares of Common Stock owned by it, him or her in connection therewith.

 

2. The
Sponsor and each Insider hereby agrees that in the event that the Company fails to consummate a Business Combination within 24 months
from the closing of the Public Offering (or 27 months from the closing of the Public Offering if the Company has executed a letter of
intent, agreement in principle or definitive agreement for an initial Business Combination within 24 months from the closing of the Public
Offering), or such later period approved by the Company’s stockholders in accordance with the Company’s second amended and
restated certificate of incorporation (as it may be amended from time to time, the “Charter”), the Sponsor
and each Insider shall take all reasonable steps to cause the Company to (i) cease all operations except for the purpose of winding up,
(ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem 100% of the shares of Class A Common Stock
sold as part of the Units in the Public Offering (the “Offering Shares”), at a per-share price, payable
in cash, equal to the aggregate amount then on deposit in the Trust Account (as defined below), including interest earned on the funds
held in the Trust Account and not previously released to the Company to pay its taxes (less up to $100,000 of interest to pay dissolution
expenses), divided by the number of then outstanding Offering Shares, which redemption will completely extinguish all Public Stockholders’
(as defined below) rights as stockholders (including the right to receive further liquidating distributions, if any), and (iii) as promptly
as reasonably possible following such redemption, subject to the approval of the Company’s remaining stockholders and the Company’s
board of directors, liquidate and dissolve, subject in each case to the Company’s obligations under Delaware law to provide for
claims of creditors and other requirements of applicable law. The Sponsor and each Insider agrees to not propose any amendment to the
Charter to modify the substance or timing of the Company’s obligation to allow redemption in connection with the Company’s
initial Business Combination or to redeem 100% of the Offering Shares if the Company does not complete a Business Combination within the
required time period set forth in the Charter or with respect to any other provision relating to stockholders’ rights or pre-initial
Business Combination activity, unless the Company provides its Public Stockholders with the opportunity to redeem their Offering Shares
upon approval of any such amendment at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust
Account, including interest earned on the funds held in the Trust Account and not previously released to the Company to pay its taxes,
divided by the number of then outstanding Offering Shares.

 

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The Sponsor and each Insider
acknowledges that it, he or she has no right, title, interest or claim of any kind in or to any monies held in the Trust Account or any
other asset of the Company as a result of any liquidation of the Company with respect to the Founder Shares held by it, him or her. The
Sponsor and each Insider hereby further waives, with respect to any shares of Common Stock held by it, him or her, if any, any redemption
rights it, he or she may have in connection with (A) the consummation of a Business Combination, including, without limitation, any such
rights available in the context of a stockholder vote to approve such Business Combination, or (B) a stockholder vote to approve an amendment
to the Charter to modify the substance or timing of the Company’s obligation to allow redemption in connection with the Company’s
initial Business Combination or to redeem 100% of the Offering Shares if the Company has not consummated a Business Combination within
the time period set forth in the Charter or with respect to any other provision relating to stockholders’ rights or pre-initial
Business Combination activity or in the context of a tender offer made by the Company to purchase Offering Shares (although the Sponsor,
the Insiders and their respective affiliates shall be entitled to redemption and liquidation rights with respect to any Offering Shares
it or they hold if the Company fails to consummate a Business Combination within the time period set forth in the Charter).

 

3. Notwithstanding
the provisions set forth in paragraphs 7(a) and 7(b), during the period commencing on the effective date of the Underwriting Agreement
and ending 180 days after such date, the Sponsor and each Insider shall not, without the prior written consent of Citigroup Global Markets
Inc. and Barclays Capital Inc., (i) sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any option to purchase
or otherwise dispose of or agree to dispose of, directly or indirectly, or establish or increase a put equivalent position or liquidate
or decrease a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), and the rules and regulations of the Commission promulgated thereunder, with respect to, any Units, shares
of Common Stock (including, but not limited to, Founder Shares), Warrants or any securities convertible into, or exercisable, or exchangeable
for, shares of Common Stock owned by it, him or her, (ii) enter into any swap or other arrangement that transfers to another, in whole
or in part, any of the economic consequences of ownership of any Units, shares of Common Stock (including, but not limited to, Founder
Shares), Warrants or any securities convertible into, or exercisable, or exchangeable for, shares of Common Stock owned by it, him or
her, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (iii) publicly announce any
intention to effect any transaction specified in clause (i) or (ii); provided, however, all of the foregoing does not apply to the forfeiture
of any Founder Shares pursuant to their terms or any transfer of Founder Shares to any current or future independent director of the company
(as long as such current or future independent director transferee is subject to this Letter Agreement or executes an agreement substantially
identical to the terms of this Letter Agreement, as applicable to directors and officers at the time of such transfer; and as long as,
to the extent any Section 16 reporting obligation is triggered as a result of such transfer, any related Section 16 filing includes a
practical explanation as to the nature of the transfer). Each of the Insiders and the Sponsor acknowledges and agrees that, prior to the
effective date of any release or waiver, of the restrictions set forth in this paragraph 3 or paragraph 7 below, the Company may announce
the impending release or waiver by press release through a major news service at least two business days before the effective date of
the release or waiver. The provisions of this paragraph will not apply if the release or waiver is effected solely to permit a transfer
not for consideration and the transferee has agreed in writing to be bound by the same terms described in this Letter Agreement to the
extent and for the duration that such terms remain in effect at the time of the transfer.

 

4. In
the event of the liquidation of the Trust Account upon the failure of the Company to consummate its initial Business Combination within
the time period set forth in the Charter, the Sponsor (which for purposes of clarification shall not extend to any other stockholders,
members or managers of the Sponsor) (the “Indemnitor”) agrees to indemnify and hold harmless the Company against
any and all loss, liability, claim, damage and expense whatsoever (including, but not limited to, any and all legal or other expenses
reasonably incurred in investigating, preparing or defending against any litigation, whether pending or threatened) to which the Company
may become subject as a result of any claim by (i) any third party for services rendered (other than the independent registered public
accounting firm) or products sold to the Company or (ii) any prospective target business with which the Company has entered into a written
letter of intent, confidentiality or other similar agreement or Business Combination agreement (a “Target”);
provided, however, that such indemnification of the Company by the Indemnitor (x) shall apply only to the extent necessary to ensure that
such claims by a third party for services rendered (other than the independent registered public accounting firm) or products sold to
the Company or a Target do not reduce the amount of funds in the Trust Account to below the lesser of (i) $10.00 per Offering Share and
(ii) the actual amount per Offering Share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than
$10.00 per Offering Share is then held in the Trust Account due to reductions in the value of the trust assets, less taxes payable, (y)
shall not apply to any claims by a third party or a Target which executed a waiver of any and all rights to the monies held in the Trust
Account (whether or not such waiver is enforceable) and (z) shall not apply to any claims under the Company’s indemnity of the Underwriters
against certain liabilities, including liabilities under the Securities Act of 1933, as amended. The Indemnitor shall have the right to
defend against any such claim with counsel of its choice reasonably satisfactory to the Company if, within 15 days following written receipt
of notice of the claim to the Indemnitor, the Indemnitor notifies the Company in writing that it shall undertake such defense.

 

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5. To
the extent that the Underwriters do not exercise their over-allotment option to purchase up to an additional 6,750,000 Units within 45
days from the date of the Prospectus (and as further described in the Prospectus), the Sponsor agrees to forfeit, at no cost, a number
of Founder Shares in the aggregate equal to 1,500,000 multiplied by a fraction, (i) the numerator of which is 6,750,000 minus the number
of Units purchased by the Underwriters upon the exercise of their over-allotment option, and (ii) the denominator of which is 6,750,000.
The forfeiture will be adjusted to the extent that the over-allotment option is not exercised in full by the Underwriters so that the
Founder Shares will represent an aggregate of 20.0% of the Company’s issued and outstanding shares of Common Stock after the Public
Offering (not including shares of Class A Common Stock underlying the Warrants or Private Placement Warrants (as defined below)). The
Sponsor further agrees that to the extent that the size of the Public Offering is increased or decreased, the Company will purchase or
sell Units or effect a stock dividend, stock split or repurchase or redemption, as applicable, immediately prior to the consummation of
the Public Offering in such amount as to maintain the number of Founder Shares at 20.0% of its issued and outstanding shares of Common
Stock upon the consummation of the Public Offering. In connection with such increase or decrease in the size of the Public Offering, then
(A) the references to 6,750,000 in the numerator and denominator of the formula in the first sentence of this paragraph shall be changed
to a number equal to 15% of the number of Offering Shares and (B) the reference to 1,500,000 in the formula set forth in the first sentence
of this paragraph shall be adjusted to such number of Founder Shares that the Sponsor would have to surrender to the Company in order
for the number of Founder Shares to equal an aggregate of 20.0% of the Company’s issued and outstanding shares of Common Stock after
the Public Offering (not including shares of Class A Common Stock underlying the Warrants or Private Placement Warrants).

 

6. The
Sponsor and each Insider hereby agrees and acknowledges that: (i) the Underwriters and the Company would be irreparably injured in the
event of a breach by such Sponsor or an Insider of its, his or her obligations under paragraphs 1, 2, 3, 4, 5, 7(a), 7(b) and 9, as applicable,
of this Letter Agreement (ii) monetary damages may not be an adequate remedy for such breach and (iii) the non-breaching party shall be
entitled to injunctive relief, in addition to any other remedy that such party may have in law or in equity, in the event of such breach.

 

7. (a)
The Sponsor and each Insider agrees that it, he or she shall not Transfer any Founder Shares (or any shares of Class A Common Stock issuable
upon conversion thereof) until the earlier of (A) one year after the completion of the Company’s initial Business Combination and
(B) subsequent to the Business Combination, (x) if the closing price of the Class A Common Stock equals or exceeds $12.00 per share (as
adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading
day period commencing at least 150 days after the completion of the Company’s initial Business Combination or (y) the date on which
the Company completes a liquidation, merger, capital stock exchange, reorganization or other similar transaction that results in all of
the Company’s stockholders having the right to exchange their shares of Class A Common Stock for cash, securities or other property
(the “Founder Shares Lock-up Period”).

 

(b) The
Sponsor and each Insider agrees that it, he or she shall not Transfer any Private Placement Warrants (or any share of Class A Common Stock
issued or issuable upon the exercise of the Private Placement Warrants), until 30 days after the completion of the Company’s initial
Business Combination (the “Private Placement Warrants Lock-up Period”, together with the Founder Shares Lock-up
Period, the “Lock-up Periods”).

 

(c) Notwithstanding
the provisions set forth in paragraphs 7(a) and (b), Transfers of the Founder Shares, Private Placement Warrants and shares of Class A
Common Stock issued or issuable upon the exercise or conversion of the Private Placement Warrants or the Founder Shares that are held
by the Sponsor, any Insider or any of their permitted transferees (that have complied with this paragraph 7(c)), are permitted (a) to
the Company’s officers or directors, any affiliates or family members of any of the Company’s officers or directors, any members
or partners of the Sponsor or their affiliates (including members of the Sponsor’s members), any affiliates of the Sponsor, or any
employees of such affiliates; (b) in the case of an individual, by gift to a member of such person’s immediate family or to a trust,
the beneficiary of which is a member of such person’s immediate family, an affiliate of such person or to a charitable organization;
(c) in the case of an individual, by virtue of laws of descent and distribution upon death of such person; (d) in the case of an individual,
pursuant to a qualified domestic relations order; (e) by private sales or transfers made in connection with the consummation of an initial
Business Combination at prices no greater than the price at which the securities were originally purchased; (f) by virtue of the laws
of the State of Delaware or the Sponsor’s organizational documents upon liquidation or dissolution of the Sponsor; (g) to the Company
for no value for cancellation in connection with the consummation of an initial Business Combination; (h) in the event of the Company’s
liquidation prior to its consummation of an initial Business Combination; or (i) in the event of the Company’s completion of a liquidation,
merger, capital stock exchange or other similar transaction which results in all of the Company’s stockholders having the right
to exchange their shares of Class A Common Stock for cash, securities or other property subsequent to the Company’s completion of
an initial Business Combination; provided, however, that in the case of clauses (a) through (f), these permitted transferees
must enter into a written agreement with the Company agreeing to be bound by the transfer restrictions herein and the other restrictions
contained in this Agreement (including provisions relating to voting, the Trust Account and liquidating distributions).

 

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8. The
Sponsor and each Insider represents and warrants that it, he or she has never been suspended or expelled from membership in any securities
or commodities exchange or association or had a securities or commodities license or registration denied, suspended or revoked. Each Insider’s
biographical information furnished to the Company (including any such information included in the Prospectus) is true and accurate in
all material respects and does not omit any material information with respect to such Insider’s background. The Sponsor and each
Insider represents and warrants that the questionnaire it, he or she furnished to the Company is true and accurate in all material respects.
The Sponsor and each Insider represents and warrants that: it, he or she is not subject to or a respondent in any legal action for, any
injunction, cease-and-desist order or order or stipulation to desist or refrain from any act or practice relating to the offering of securities
in any jurisdiction; it, he or she has never been convicted of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating to
any financial transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and it, he or
she is not currently a defendant in any such criminal proceeding.

 

9. Except
as disclosed in the Prospectus, neither the Sponsor nor any Insider, nor any affiliate of the Sponsor or any Insider, shall receive from
the Company any finder’s fee, reimbursement, consulting fee, non-cash payments, monies in respect of any repayment of a loan or
other compensation prior to, or in connection with any services rendered in order to effectuate, the consummation of the Company’s
initial Business Combination (regardless of the type of transaction that it is), other than the following, none of which will be made
from the proceeds held in the Trust Account prior to the completion of the initial Business Combination: repayment of a loan and advances
up to an aggregate of $300,000 made to the Company by the Sponsor; payment to the Sponsor of $10,000 per month for secretarial and administrative
services provided to the Company’s directors and officers; reimbursement for any out-of-pocket expenses related to identifying,
investigating, negotiating and completing an initial Business Combination; and repayment of loans, if any, and on such terms as to be
determined by the Company from time to time, made by the Sponsor or an affiliate of the Sponsor or any of the Company’s officers
or directors to finance transaction costs in connection with an intended initial Business Combination, provided, that, if the Company
does not consummate an initial Business Combination, a portion of the working capital held outside the Trust Account may be used by the
Company to repay such loaned amounts so long as no proceeds from the Trust Account are used for such repayment. Up to $1,500,000 of such
loans may be convertible into warrants of the post Business Combination entity at a price of $1.50 per warrant at the option of the lender.
Such warrants would be identical to the Private Placement Warrants, including as to exercise price, exercisability and exercise period.

 

10. The
Sponsor and each Insider has full right and power, without violating any agreement to which it is bound (including, without limitation,
any non-competition or non-solicitation agreement with any employer or former employer), to enter into this Letter Agreement and, as applicable,
to serve as an officer and/or director on the board of directors of the Company and hereby consents to being named in the Prospectus as
an officer and/or director of the Company.

 

11. As
used herein, (i) “Business Combination” shall mean a merger, capital stock exchange, asset acquisition, stock
purchase, reorganization or similar business combination, involving the Company and one or more businesses; (ii) “Common Stock”
shall mean the Class A Common Stock and Class B common stock, par value $0.0001 per share, of the Company (“Class B Common
Stock”); (iii) “Founder Shares” shall mean the 11,500,000 shares of Class B Common Stock issued
and outstanding (up to 1,500,000 shares of which are subject to forfeiture if the over-allotment option is not exercised by the Underwriters);
(iv) “Initial Stockholders” shall mean the Sponsor and any Insider that holds Founder Shares; (v) “Private
Placement Warrants” shall mean the 7,333,333 warrants (or up to 8,233,333 warrants if the over-allotment option is exercised
in full) that the Sponsor has agreed to purchase for an aggregate purchase price of $11,000,000 (or up to $12,400,000 if the over-allotment
option is exercised in full), or $1.50 per warrant, in a private placement that shall occur simultaneously with the consummation of the
Public Offering; (vi) “Public Stockholders” shall mean the holders of securities issued in the Public Offering;
(vii) “Trust Account” shall mean the trust fund into which a portion of the net proceeds of the Public Offering
and the sale of the Private Placement Warrants shall be deposited; and (viii) “Transfer” shall mean the (a)
sale 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, and the rules and regulations of the
Commission promulgated thereunder 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).

 

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12. The
Company will maintain an insurance policy or policies providing directors’ and officers’ liability insurance, and each director
and officer shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage
available for any of the Company’s directors or officers.

 

13. This
Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and
supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they
relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may not be changed, amended,
modified or waived (other than to correct a typographical error) as to any particular provision, except by a written instrument executed
by (1) each Insider that is the subject of any such change, amendment, modification or waiver and (2) the Sponsor.

 

14. No
party hereto may assign either this Letter Agreement or any of its rights, interests, or obligations hereunder without the prior written
consent of the other parties. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate
to transfer or assign any interest or title to the purported assignee. This Letter Agreement shall be binding on the Sponsor and each
Insider and their respective successors, heirs and assigns and permitted transferees.

 

15. Nothing
in this Letter Agreement shall be construed to confer upon, or give to, any person or corporation other than the parties hereto any right,
remedy or claim under or by reason of this Letter Agreement or of any covenant, condition, stipulation, promise or agreement hereof. All
covenants, conditions, stipulations, promises and agreements contained in this Letter Agreement shall be for the sole and exclusive benefit
of the parties hereto and their successors, heirs, personal representatives and assigns and permitted transferees.

 

16. This
Letter Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all purposes
be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

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

 

18. This
Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York. The parties hereto
(i) all agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Letter Agreement shall be
brought and enforced in the courts of New York City, in the State of New York, and irrevocably submit to such jurisdiction and venue,
which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction and venue or that such courts
represent an inconvenient forum.

 

19. Any
notice, consent or request to be given in connection with any of the terms or provisions of this Letter Agreement shall be in writing
and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery or
facsimile or other electronic transmission.

 

20. This
Letter Agreement shall terminate on the earlier of (i) the expiration of the Lock-up Periods or (ii) the liquidation of the Company; provided,
however, that this Letter Agreement shall earlier terminate in the event that the Public Offering is not consummated by June 30, 2021;
provided further that paragraph 4 of this Letter Agreement shall survive such liquidation.

 

[Signature Page Follows]

 

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	 	Sincerely,
	 	 
	 	TCW SPECIAL PURPOSE SPONSOR LLC
	 	 
	 	By:	
	 	 	Name: 	Joseph R. Shaposhnik
	 	 	Title:	Chief Executive Officer
	 	 	 	 
	 	 	 
	 	 	Name:	Joseph R. Shaposhnik
	 	 	 	 
	 	 	 
	 	 	Name:	Richard Villa
	 	 	 	 
	 	 	 
	 	 	Name:	Leo L. Chan
	 	 	 	 
	 	 	 
	 	 	Name:	Meredith Jackson
	 	 	 	 
	 	 	 
	 	 	Name:	Carol P. Lowe

 

Acknowledged and Agreed:

 

TCW SPECIAL PURPOSE ACQUISITION CORP.

 

 

	By:		 
	 	Name: 	Joseph R. Shaposhnik	 
	 	Title:	Chief Executive Officer	 

 

[Signature Page to Letter
Agreement]

 

 

9Exhibit 10.2

 

AMENDMENT TO

LETTER AGREEMENT

 

September 1, 2022

 

Reference is made to the Letter
Agreement (the “Letter Agreement”), dated as of March 15, 2021, by and between TCW Special Purpose Acquisition
Corp., a Delaware corporation (the “Company”) and the undersigned (the “Insider”).
Capitalized terms used in this Amendment to the Letter Agreement (the “Amendment”) not defined herein shall
have the meanings assigned to them in the Letter Agreement.

 

WHEREAS, the Company
has filed a Corrected Certificate of Second Amended and Restated Certificate of Incorporation to correct an inaccuracy in the description
of the period of time the Company has to complete its initial business combination;

 

WHEREAS, Section 2 of
the Letter Agreement similarly erroneously describes the period of time from the closing of the Company’s Public Offering in which
the Company has to complete its initial Business Combination as “24 months from the closing of the Public Offering”;

 

WHEREAS, the parties
to the Letter Agreement intended that such period be consistent with the Company’s Second Amended and Restated Certificate of Incorporation,
and therefore such period should be described as “24 months from the closing of the Public Offering (or 27 months from the closing
of the Public Offering if the Company has executed a letter of intent, agreement in principle or definitive agreement for an initial Business
Combination within 24 months from the closing of the Public Offering)”; and

 

WHEREAS, the Letter
Agreement provides that the correction of a typographical error in the Letter Agreement may be done without a signed writing of the parties
and the Letter Agreement may also be changed, amended, modified or waived by a written instrument executed by the parties to the Letter
Agreement.

 

NOW, THEREFORE, Section
2 of the Letter Agreement shall be amended accordingly, and each reference in the Letter Agreement to “24 months from the closing
of the Public Offering” is hereby corrected and amended to read as “24 months from the closing of the Public Offering (or
27 months from the closing of the Public Offering if the Company has executed a letter of intent, agreement in principle or definitive
agreement for an initial Business Combination within 24 months from the closing of the Public Offering).” The corrected form of
the Letter Agreement, as so amended, is attached hereto as Exhibit A.

 

The corrected form of the Letter
Agreement, as amended, attached hereto as Exhibit A constitutes the entire agreement and understanding of the parties hereto in respect
of the subject matter hereof and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written
or oral, including the Letter Agreement dated March 15, 2021.

 

Except as expressly set forth
above, this Amendment does not amend, modify or waive any of the terms of the Letter Agreement or any other documents referred to therein.
Each party represents and warrants that such party has full power and authority to enter into this Amendment and that this Amendment constitutes
a valid and binding obligation of such party enforceable against such party in accordance with its terms. This Amendment may be signed
in any number of counterparts (including by electronic transmission in .PDF or other equivalent formats or by facsimile or electronic
signature), each of which shall be an original with the same effect as if the signatures thereto and hereto were upon the same instrument.

 

     

     

    

 

IN WITNESS WHEREOF, each of the
undersigned has executed this Amendment to be effective as of the date first set forth above.

 

	 	/s/ Brian Lee
	 	Name: Brian Lee

 

Acknowledged and Agreed:

 

	TCW SPECIAL PURPOSE ACQUISITION CORP.
	 	 	 
	By:	/s/ Joseph R. Shaposhnik	 
	 	Name: 	 Joseph R. Shaposhnik	 
	 	Title:	 Chief Executive Officer	 

 

[Signature Page to Amendment to the Letter Agreement]

 

    2

     

    

 

EXHIBIT A

 

 

    3

     

    

 

March 15, 2021

 

TCW Special Purpose Acquisition Corp.

865 S. Figueroa St., Suite 1800

Los Angeles, CA 90017

 

Re: Director
Appointment

 

Mr. Lee:

 

This letter (this “Letter
Agreement”) is being delivered to you in connection with your appointment to the board of directors of TCW Special Purpose
Acquisition Corp., a Delaware corporation (the “Company”). Reference is made to the Company’s initial
public offering (the “Public Offering”), of up to 51,750,000 of the Company’s units (including
up to 6,750,000 units that may be purchased to cover over-allotments, of which 1,393,299 units have
been so purchased) (the “Units”), each comprised of one share of the Company’s Class A common stock,
par value $0.0001 per share (“Class A Common Stock”), and one-third of one redeemable warrant. Each whole
warrant (a “Warrant”) entitles the holder thereof to purchase one share of Class A Common Stock at a price of
$11.50 per share, subject to adjustment as described in the Prospectus (as defined below). The Units were sold in the Public Offering
pursuant to registration statements on Form S-1 and a prospectus (the “Prospectus”) filed by the Company with
the U.S. Securities and Exchange Commission (the “Commission”) and the Company has applied to have the Units
listed on the New York Stock Exchange. Certain capitalized terms used herein are defined in paragraph 11 hereof.

 

For
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned (the “Insider”)
hereby agrees with the Company as follows:

 

1. The
Insider agrees that if the Company seeks stockholder approval of a proposed Business Combination, then in connection with such proposed
Business Combination, the Insider shall (i) vote any shares of Common Stock (as defined below) owned by the Insider in favor of any proposed
Business Combination (including any proposals recommended by the Company’s board of directors in connection with such Business Combination)
and (ii) not redeem any shares of Common Stock owned by the Insider in connection with such stockholder approval. If the Company seeks
to consummate a proposed Business Combination by engaging in a tender offer, the Sponsor and each Insider agrees that it, he or she will
not sell or tender any shares of Common Stock owned by the Insider in connection therewith.

 

2. The
Insider hereby agrees that in the event that the Company fails to consummate a Business Combination within 24 months from the closing
of the Public Offering (or 27 months from the closing of the Public Offering if the Company has executed a letter of intent, agreement
in principle or definitive agreement for an initial Business Combination within 24 months from the closing of the Public Offering), or
such later period approved by the Company’s stockholders in accordance with the Company’s second amended and restated certificate
of incorporation (as it may be amended from time to time, the “Charter”), the Insider shall take all
reasonable steps to cause the Company to (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably
possible but not more than ten business days thereafter, redeem 100% of the shares of Class A Common Stock sold as part of the Units in
the Public Offering (the “Offering Shares”), at a per-share price, payable in cash, equal to the aggregate
amount then on deposit in the Trust Account (as defined below), including interest earned on the funds held in the Trust Account and not
previously released to the Company to pay its taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number
of then outstanding Offering Shares, which redemption will completely extinguish all Public Stockholders’ (as defined below) rights
as stockholders (including the right to receive further liquidating distributions, if any), and (iii) as promptly as reasonably possible
following such redemption, subject to the approval of the Company’s remaining stockholders and the Company’s board of directors,
liquidate and dissolve, subject in each case to the Company’s obligations under Delaware law to provide for claims of creditors
and other requirements of applicable law. The Insider agrees to not propose any amendment to the Charter to modify the substance or timing
of the Company’s obligation to allow redemption in connection with the Company’s initial Business Combination or to redeem
100% of the Offering Shares if the Company does not complete a Business Combination within the required time period set forth in the Charter
or with respect to any other provision relating to stockholders’ rights or pre-initial Business Combination activity, unless the
Company provides its Public Stockholders with the opportunity to redeem their Offering Shares upon approval of any such amendment at a
per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the
funds held in the Trust Account and not previously released to the Company to pay its taxes, divided by the number of then outstanding
Offering Shares.

 

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The Insider acknowledges that
the Insider has no right, title, interest or claim of any kind in or to any monies held in the Trust Account or any other asset of the
Company as a result of any liquidation of the Company with respect to the Founder Shares held by the Insider. The Insider hereby further
waives, with respect to any shares of Common Stock held by the Insider, if any, any redemption rights the Insider may have in connection
with (A) the consummation of a Business Combination, including, without limitation, any such rights available in the context of a stockholder
vote to approve such Business Combination, or (B) a stockholder vote to approve an amendment to the Charter to modify the substance or
timing of the Company’s obligation to allow redemption in connection with the Company’s initial Business Combination or to
redeem 100% of the Offering Shares if the Company has not consummated a Business Combination within the time period set forth in the Charter
or with respect to any other provision relating to stockholders’ rights or pre-initial Business Combination activity or in the context
of a tender offer made by the Company to purchase Offering Shares (although the Insider and its affiliates shall be entitled to redemption
and liquidation rights with respect to any Offering Shares the Insider holds if the Company fails to consummate a Business Combination
within the time period set forth in the Charter).

 

3. Notwithstanding
the provisions set forth in paragraphs 7(a) and 7(b), during the period commencing on the effective date of the Underwriting Agreement
and ending 180 days after such date, the Insider shall not, without the prior written consent of Citigroup Global Markets Inc. and Barclays
Capital Inc. (the “Underwriters”), (i) sell, offer to sell, contract or agree to sell, hypothecate, pledge,
grant any option to purchase or otherwise dispose of or agree to dispose of, directly or indirectly, or establish or increase a put equivalent
position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934,
as amended (the “Exchange Act”), and the rules and regulations of the Commission promulgated thereunder,
with respect to, any Units, shares of Common Stock (including, but not limited to, Founder Shares), Warrants or any securities convertible
into, or exercisable, or exchangeable for, shares of Common Stock owned by the Insider, (ii) enter into any swap or other arrangement
that transfers to another, in whole or in part, any of the economic consequences of ownership of any Units, shares of Common Stock (including,
but not limited to, Founder Shares), Warrants or any securities convertible into, or exercisable, or exchangeable for, shares of Common
Stock owned by the Insider, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (iii)
publicly announce any intention to effect any transaction specified in clause (i) or (ii); provided, however, all of the foregoing does
not apply to the forfeiture of any Founder Shares pursuant to their terms or any transfer of Founder Shares to any current or future independent
director of the company (as long as such current or future independent director transferee is subject to this Letter Agreement or executes
an agreement substantially identical to the terms of this Letter Agreement, as applicable to directors and officers at the time of such
transfer; and as long as, to the extent any Section 16 reporting obligation is triggered as a result of such transfer, any related Section
16 filing includes a practical explanation as to the nature of the transfer). The Insider acknowledges and agrees that, prior to the effective
date of any release or waiver, of the restrictions set forth in this paragraph 3 or paragraph 7 below, the Company may announce the impending
release or waiver by press release through a major news service at least two business days before the effective date of the release or
waiver. The provisions of this paragraph will not apply if the release or waiver is effected solely to permit a transfer not for consideration
and the transferee has agreed in writing to be bound by the same terms described in this Letter Agreement to the extent and for the duration
that such terms remain in effect at the time of the transfer.

 

4. In
the event of the liquidation of the Trust Account upon the failure of the Company to consummate its initial Business Combination within
the time period set forth in the Charter, the Sponsor (which for purposes of clarification shall not extend to any other stockholders,
members or managers of the Sponsor) (the “Indemnitor”) agrees to indemnify and hold harmless the Company against
any and all loss, liability, claim, damage and expense whatsoever (including, but not limited to, any and all legal or other expenses
reasonably incurred in investigating, preparing or defending against any litigation, whether pending or threatened) to which the Company
may become subject as a result of any claim by (i) any third party for services rendered (other than the independent registered public
accounting firm) or products sold to the Company or (ii) any prospective target business with which the Company has entered into a written
letter of intent, confidentiality or other similar agreement or Business Combination agreement (a “Target”);
provided, however, that such indemnification of the Company by the Indemnitor (x) shall apply only to the extent necessary to ensure that
such claims by a third party for services rendered (other than the independent registered public accounting firm) or products sold to
the Company or a Target do not reduce the amount of funds in the Trust Account to below the lesser of (i) $10.00 per Offering Share and
(ii) the actual amount per Offering Share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than
$10.00 per Offering Share is then held in the Trust Account due to reductions in the value of the trust assets, less taxes payable, (y)
shall not apply to any claims by a third party or a Target which executed a waiver of any and all rights to the monies held in the Trust
Account (whether or not such waiver is enforceable) and (z) shall not apply to any claims under the Company’s indemnity of the Underwriters
against certain liabilities, including liabilities under the Securities Act of 1933, as amended. The Indemnitor shall have the right to
defend against any such claim with counsel of its choice reasonably satisfactory to the Company if, within 15 days following written receipt
of notice of the claim to the Indemnitor, the Indemnitor notifies the Company in writing that it shall undertake such defense.

 

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5. To
the extent that the Underwriters do not exercise their over-allotment option to purchase up to an additional 6,750,000 Units within 45
days from the date of the Prospectus (and as further described in the Prospectus), the Sponsor agrees to forfeit, at no cost, a number
of Founder Shares in the aggregate equal to 1,500,000 multiplied by a fraction, (i) the numerator of which is 6,750,000 minus the number
of Units purchased by the Underwriters upon the exercise of their over-allotment option, and (ii) the denominator of which is 6,750,000.
The forfeiture will be adjusted to the extent that the over-allotment option is not exercised in full by the Underwriters so that the
Founder Shares will represent an aggregate of 20.0% of the Company’s issued and outstanding shares of Common Stock after the Public
Offering (not including shares of Class A Common Stock underlying the Warrants or Private Placement Warrants (as defined below)). The
Sponsor further agrees that to the extent that the size of the Public Offering is increased or decreased, the Company will purchase or
sell Units or effect a stock dividend, stock split or repurchase or redemption, as applicable, immediately prior to the consummation of
the Public Offering in such amount as to maintain the number of Founder Shares at 20.0% of its issued and outstanding shares of Common
Stock upon the consummation of the Public Offering. In connection with such increase or decrease in the size of the Public Offering, then
(A) the references to 6,750,000 in the numerator and denominator of the formula in the first sentence of this paragraph shall be changed
to a number equal to 15% of the number of Offering Shares and (B) the reference to 1,500,000 in the formula set forth in the first sentence
of this paragraph shall be adjusted to such number of Founder Shares that the Sponsor would have to surrender to the Company in order
for the number of Founder Shares to equal an aggregate of 20.0% of the Company’s issued and outstanding shares of Common Stock after
the Public Offering (not including shares of Class A Common Stock underlying the Warrants or Private Placement Warrants).

 

6. The
Sponsor and each Insider hereby agrees and acknowledges that: (i) the Underwriters and the Company would be irreparably injured in the
event of a breach by such Sponsor or an Insider of its, his or her obligations under paragraphs 1, 2, 3, 4, 5, 7(a), 7(b) and 9, as applicable,
of this Letter Agreement (ii) monetary damages may not be an adequate remedy for such breach and (iii) the non-breaching party shall be
entitled to injunctive relief, in addition to any other remedy that such party may have in law or in equity, in the event of such breach.

 

7. (a)
The Insider agrees that the Insider shall not Transfer any Founder Shares (or any shares of Class A Common Stock issuable upon conversion
thereof) until the earlier of (A) one year after the completion of the Company’s initial Business Combination and (B) subsequent
to the Business Combination, (x) if the closing price of the Class A Common Stock equals or exceeds $12.00 per share (as adjusted for
stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period
commencing at least 150 days after the completion of the Company’s initial Business Combination or (y) the date on which the Company
completes a liquidation, merger, capital stock exchange, reorganization or other similar transaction that results in all of the Company’s
stockholders having the right to exchange their shares of Class A Common Stock for cash, securities or other property (the “Founder
Shares Lock-up Period”).

 

(b) The
Insider agrees that the Insider shall not Transfer any Private Placement Warrants (or any share of Class A Common Stock issued or issuable
upon the exercise of the Private Placement Warrants), until 30 days after the completion of the Company’s initial Business Combination
(the “Private Placement Warrants Lock-up Period”, together with the Founder Shares Lock-up Period, the “Lock-up
Periods”).

 

(c) Notwithstanding
the provisions set forth in paragraphs 7(a) and (b), Transfers of the Founder Shares, Private Placement Warrants and shares of Class A
Common Stock issued or issuable upon the exercise or conversion of the Private Placement Warrants or the Founder Shares that are held
by the Insider or any of the Insider’s permitted transferees (that have complied with this paragraph 7(c)), are permitted (a) to
the Company’s officers or directors, any affiliates or family members of any of the Company’s officers or directors, any members
or partners of the Sponsor or their affiliates (including members of TCW Special Purpose Sponsor LLC, a Delaware limited liability company
(the “Sponsor”)), any affiliates of the Sponsor, or any employees of such affiliates; (b) in the case of an
individual, by gift to a member of such person’s immediate family or to a trust, the beneficiary of which is a member of such person’s
immediate family, an affiliate of such person or to a charitable organization; (c) in the case of an individual, by virtue of laws of
descent and distribution upon death of such person; (d) in the case of an individual, pursuant to a qualified domestic relations order;
(e) by private sales or transfers made in connection with the consummation of an initial Business Combination at prices no greater than
the price at which the securities were originally purchased; (f) by virtue of the laws of the State of Delaware or the Sponsor’s
organizational documents upon liquidation or dissolution of the Sponsor; (g) to the Company for no value for cancellation in connection
with the consummation of an initial Business Combination; (h) in the event of the Company’s liquidation prior to its consummation
of an initial Business Combination; or (i) in the event of the Company’s completion of a liquidation, merger, capital stock exchange
or other similar transaction which results in all of the Company’s stockholders having the right to exchange their shares of Class
A Common Stock for cash, securities or other property subsequent to the Company’s completion of an initial Business Combination;
provided, however, that in the case of clauses (a) through (f), these permitted transferees must enter into a written agreement
with the Company agreeing to be bound by the transfer restrictions herein and the other restrictions contained in this Agreement (including
provisions relating to voting, the Trust Account and liquidating distributions).

 

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8. The
Insider represents and warrants that the Insider has never been suspended or expelled from membership in any securities or commodities
exchange or association or had a securities or commodities license or registration denied, suspended or revoked. The Insider’s biographical
information furnished to the Company is true and accurate in all material respects and does not omit any material information with respect
to the Insider’s background. The Insider represents and warrants that the questionnaire the Insider furnished to the Company is
true and accurate in all material respects. The Insider represents and warrants that: the Insider is not subject to or a respondent in
any legal action for, any injunction, cease-and-desist order or order or stipulation to desist or refrain from any act or practice relating
to the offering of securities in any jurisdiction; the Insider has never been convicted of, or pleaded guilty to, any crime (i) involving
fraud, (ii) relating to any financial transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities
and the Insider is not currently a defendant in any such criminal proceeding.

 

9. Except
as disclosed in the Prospectus, the Insider shall not receive from the Company any finder’s fee, reimbursement, consulting fee,
non-cash payments, monies in respect of any repayment of a loan or other compensation prior to, or in connection with any services rendered
in order to effectuate, the consummation of the Company’s initial Business Combination (regardless of the type of transaction that
it is), other than the following, none of which will be made from the proceeds held in the Trust Account prior to the completion of the
initial Business Combination: repayment of a loan and advances up to an aggregate of $300,000 made to the Company by the Sponsor; payment
to the Sponsor of $10,000 per month for secretarial and administrative services provided to the Company’s directors and officers;
reimbursement for any out-of-pocket expenses related to identifying, investigating, negotiating and completing an initial Business Combination;
and repayment of loans, if any, and on such terms as to be determined by the Company from time to time, made by the Sponsor or an affiliate
of the Sponsor or any of the Company’s officers or directors to finance transaction costs in connection with an intended initial
Business Combination, provided, that, if the Company does not consummate an initial Business Combination, a portion of the working capital
held outside the Trust Account may be used by the Company to repay such loaned amounts so long as no proceeds from the Trust Account are
used for such repayment. Up to $1,500,000 of such loans may be convertible into warrants of the post Business Combination entity at a
price of $1.50 per warrant at the option of the lender. Such warrants would be identical to the Private Placement Warrants, including
as to exercise price, exercisability and exercise period.

 

10. The
Insider has full right and power, without violating any agreement to which it is bound (including, without limitation, any non-competition
or non-solicitation agreement with any employer or former employer), to enter into this Letter Agreement and, as applicable, to serve
as an officer and/or director on the board of directors of the Company and hereby consents to being named in the public filings of the
Company as a director of the Company.

 

11. As
used herein, (i) “Business Combination” shall mean a merger, capital stock exchange, asset acquisition, stock
purchase, reorganization or similar business combination, involving the Company and one or more businesses; (ii) “Common Stock”
shall mean the Class A Common Stock and Class B common stock, par value $0.0001 per share, of the Company (“Class B Common
Stock”); (iii) “Founder Shares” shall mean the shares of Class B Common Stock issued and outstanding
(up to shares of which are subject to forfeiture if the over-allotment option is not exercised by the Underwriters); (iv) “Private
Placement Warrants” shall mean the 7,333,333 warrants (or up to 8,233,333 warrants if the over-allotment option is exercised
in full) that the Sponsor has agreed to purchase for an aggregate purchase price of $11,000,000 (or up to $12,400,000 if the over-allotment
option is exercised in full), or $1.50 per warrant, in a private placement that occurred simultaneously with the consummation of the Public
Offering; (v) “Public Stockholders” shall mean the holders of securities issued in the Public Offering; (vi)
“Trust Account” shall mean the trust fund into which a portion of the net proceeds of the Public Offering and
the sale of the Private Placement Warrants were deposited; and (vii) “Transfer” shall mean the (a) sale 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, and the rules and regulations of the Commission promulgated
thereunder 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).

 

    7

     

    

 

12. The
Company will maintain an insurance policy or policies providing directors’ and officers’ liability insurance, and each director
and officer shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage
available for any of the Company’s directors or officers.

 

13. This
Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and
supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they
relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may not be changed, amended,
modified or waived (other than to correct a typographical error) as to any particular provision, except by a written instrument executed
by the parties hereto.

 

14. No
party hereto may assign either this Letter Agreement or any of its rights, interests, or obligations hereunder without the prior written
consent of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate
to transfer or assign any interest or title to the purported assignee. This Letter Agreement shall be binding on the Insider and the Insider’s
respective successors, heirs and assigns and permitted transferees.

 

15. Nothing
in this Letter Agreement shall be construed to confer upon, or give to, any person or corporation other than the parties hereto any right,
remedy or claim under or by reason of this Letter Agreement or of any covenant, condition, stipulation, promise or agreement hereof. All
covenants, conditions, stipulations, promises and agreements contained in this Letter Agreement shall be for the sole and exclusive benefit
of the parties hereto and their successors, heirs, personal representatives and assigns and permitted transferees.

 

16. This
Letter Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all purposes
be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

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

 

18. This
Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York. The parties hereto
(i) all agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Letter Agreement shall be
brought and enforced in the courts of New York City, in the State of New York, and irrevocably submit to such jurisdiction and venue,
which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction and venue or that such courts
represent an inconvenient forum.

 

19. Any
notice, consent or request to be given in connection with any of the terms or provisions of this Letter Agreement shall be in writing
and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery or
facsimile or other electronic transmission.

 

20. This
Letter Agreement shall terminate on the earlier of (i) the expiration of the Lock-up Periods or (ii) the liquidation of the Company.

 

[Signature Page Follows]

 

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	 	Sincerely,
	 	 
	 	Name: Brian Lee

 

Acknowledged and Agreed:

 

	TCW SPECIAL PURPOSE ACQUISITION CORP.
	 	 	 
	By:	 	 
	 	Name:	 Richard Villa	 
	 	Title:	 Chief Financial Officer	 

 

[Signature Page to Letter Agreement]

 

 

9

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