Document:

EX-10.22

 Exhibit 10.22 

STOCKHOLDERS AGREEMENT OF 

LULU’S FASHION LOUNGE HOLDINGS, INC. 

THIS STOCKHOLDERS AGREEMENT, dated as of November [10], 2021 (as it may be amended, amended and restated or otherwise modified from time to time in
accordance with the terms hereof, this “Agreement”), is entered into by and among Lulu’s Fashion Lounge Holdings, Inc., a Delaware corporation (the “Corporation”), H.I.G. Growth Partners –
Lulu’s, L.P., a [Delaware limited partnership] (“HIG”), Institutional Venture Partners XV, L.P., a Delaware limited partnership (“IVP XV”), Institutional Venture Partners XV Executive Fund,
L.P., a Delaware limited partnership (“IVP XV Executive Fund”), Institutional Venture Partners XVI, L.P., a Delaware limited partnership (“IVP XVI,” and together with IVP XV and IVP XV Executive Fund, the
“IVP Holdcos”) and Canada Pension Plan Investment Board, a Canadian Crown Corporation (“CPPIB” and, together with HIG and the IVP Holdcos, the “Stockholders”). Certain terms used in this
Agreement are defined in Section 7. 
 RECITALS 

WHEREAS, each Stockholder beneficially owns outstanding shares of common stock, par value $0.001 per share (the “Common
Stock”), of the Corporation; and 
 WHEREAS, the Corporation is contemplating an offering and sale of the shares of its Common Stock
in an underwritten initial public offering. 
 NOW, THEREFORE, in consideration of the covenants and agreements contained herein and other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Corporation and the Stockholders agree as follows: 

AGREEMENT 
 Section 1. Election of
the Board of Directors. 
 (a) Subject to this Section 1(a), HIG shall be entitled to designate for nomination
by the Board up to four (4) Directors from time to time (any Director designated by HIG, an “HIG Director”). The HIG Directors shall be apportioned among the three (3) classes of Directors as nearly equal in number as
possible. The right of HIG to designate the HIG Directors for nomination as set forth in this Section 1(a) shall be subject to the following: (i) if at any time HIG beneficially owns in the aggregate thirty percent
(30%) or more of all issued and outstanding shares of Common Stock, HIG shall be entitled to designate four (4) HIG Directors; (ii) if at any time HIG beneficially owns in the aggregate less than thirty percent (30%) but at least twenty
percent (20%) or more of all issued and outstanding shares of Common Stock, HIG shall be entitled to designate three (3) HIG Directors; (iii) if at any time HIG beneficially owns in the aggregate less than twenty percent (20%) but at least
ten percent (10%) or more of all issued and outstanding shares of Common Stock, HIG shall be entitled to designate two (2) HIG Directors; and (iv) if at any time HIG beneficially owns in the aggregate less than ten percent (10%) but at
least five percent (5%) or more of all issued and outstanding shares of Common Stock, HIG shall be entitled to designate only one (1) HIG Director. HIG shall not be entitled to designate any HIG Directors for nomination in accordance with this
Section 1(a) if at any time HIG beneficially owns in the aggregate less than five percent (5%) of all issued and outstanding shares of Common Stock. 

(b) Subject to this Section 1(b), the IVP Holdcos shall be entitled to designate for nomination by the Board one
(1) Director from time to time (any Director designated by IVP Holdcos, an “IVP Director”). The IVP Holdcos shall not be entitled to designate an IVP Director in accordance with this Section 1(b) if at
any time the IVP Holdcos beneficially own in the aggregate less than ten percent (10%) of all issued and outstanding shares of Common Stock. 

 (c) Subject to Section 1(a) and
Section 1(b), each of HIG, the IVP Holdcos and CPPIB hereby agree for the exclusive benefit of the Corporation (which shall have sole right to enforce this Section 1(c)), to vote, or cause to be voted, all outstanding
shares of Common Stock beneficially owned by them (or any of their Permitted Transferees) at any annual or special meeting of stockholders of the Corporation at which Directors of the Corporation are to be elected or removed, or in actions by
written consent or otherwise so as to effectuate the provisions of this Agreement (as may be permitted under the Corporation’s Bylaws and Charter at the time of such vote), to take all Necessary Action in their capacity as stockholders of the
Corporation to cause the election or removal of the HIG Directors and the IVP Director as a Director, as provided herein and to implement and enforce the provisions set forth in Section 3, provided that (i) no
Stockholder shall have any voting obligations under this Section 1(c) after any time as such Stockholder beneficially owns in the aggregate less than ten percent (10%) of all issued and outstanding shares of Common
Stock.    For the avoidance of doubt, except as provided above, nothing in this Agreement shall limit the right of a Stockholder to vote (or cause to be voted), including by proxy, if applicable, in favor of, or against or to
abstain with respect to, any other matters presented to the stockholders of the Corporation. 
 Section 2. Vacancies and Replacements. 

(a) No reduction in the number of shares of Common Stock that each Stockholder beneficially owns shall shorten the term of any incumbent
Director. 
 (b) Each of HIG and the IVP Holdcos shall have the sole right to request that one or more of their respective designated
Directors, as applicable, tender their resignations as Directors of the Board, in each case, with or without cause at any time, by sending a written notice to such Director and the Corporation’s Secretary stating the name of the Director or
Directors whose resignation from the Board is requested (the “Removal Notice”). If the Director subject to such Removal Notice does not resign within thirty (30) days from receipt thereof by such Director, HIG and the IVP
Holdcos, as holders of Common Stock, the Corporation and the Board, to the fullest extent permitted by law and, with respect to the Board, subject to its fiduciary duties to the Corporation’s stockholders, shall thereafter take all Necessary
Action, including voting in accordance with Section 1(c) to cause the removal of such Director from the Board (and such Director shall only be removed by the parties to this Agreement in such manner as provided herein).

 (c) Each of HIG and the IVP Holdcos, as applicable, shall have the exclusive right to designate a replacement Director for nomination or
election by the Board to fill vacancies created as a result of not designating their respective Directors initially or by death, disability, retirement, resignation, removal (with or without cause) of their respective Directors, or otherwise by
designating a successor for nomination or election by the Board to fill the vacancy of their respective Directors created thereby on the terms and subject to the conditions of Section 1; it being understood that any such
designee shall serve the remainder of the term of the Director whom such designee replaces. 
 (d) So long as a Stockholder has the right to
nominate at least one Director under Section 1(a) or Section 1(b) or any such Director is serving on the Board, the Corporation shall maintain in effect at all times directors and officers
indemnity insurance coverage reasonably satisfactory to the Stockholders, and the Charter and Bylaws shall at all times provide for indemnification, exculpation and advancement of expenses to the fullest extent permitted under applicable law. 

  
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 Section 3. Initial Directors. 

The initial HIG Directors pursuant to Section 1(a) shall be [ 🌑 ] (as a Class I
Director), [ 🌑 ] (as a Class II Director) and [ 🌑 ] and [ 🌑 ] (in each case, as a
Class III Director). The initial IVP Director pursuant to Section 1(b) shall be Eric Liaw (as a Class I Director). 
 Section 4.
Rights of the Stockholders. 
 In addition to any voting requirements contained in the organizational documents of the
Corporation or any of its Subsidiaries, the Corporation shall not take, and shall cause its Subsidiaries not to take, any of the following actions (whether by merger, consolidation or otherwise) without the prior written approval of each of the
Stockholders for as long as the Stockholders beneficially own in the aggregate fifty percent (50%) or more of all issued and outstanding shares of Common Stock: 

(a) any transaction or series of related transactions, in each case, to the extent within the reasonable control of the Corporation,
(i) in which any “person” or “group” (within the meaning of Sections 13(d) and 14(d) of the Exchange Act would acquire, directly or indirectly, in excess of fifty percent (50%) of the then outstanding shares of any class of
capital stock (or equivalent) of the Corporation or any of its Subsidiaries (whether by merger, consolidation, sale or transfer of capital stock or partnership, membership or other equity interests, tender offer, exchange offer, reorganization,
recapitalization or otherwise) or (ii) following which any “person” or “group” referred to in clause (i) hereof would obtain the direct or indirect power to elect a majority of the Directors; 

(b) the sale, lease or exchange of all or substantially all of the property and assets of the Corporation and its Subsidiaries, taken as a
whole; or 
 (c) any actions (including, without limitation, any debt recapitalizations, refinancings, amendments, revolver drawings,
repayments, and compliance report review) with respect to the Corporation or its Subsidiaries’ debt capitalization (including, without limitation, any debt obligations outstanding as of the date of this Agreement) in excess of $50,000,000. 

Notwithstanding anything herein or in the organizational documents of the Corporation to the contrary and irrespective of whether the fifty
percent (50%) threshold provided for pursuant to this Section 4 is satisfied, HIG, the IVP Holdcos or CPPIB shall not be entitled to approval rights in accordance with this Section 4 if at any time
such holder beneficially owns in the aggregate less than fifteen percent (15%) of all issued and outstanding shares of Common Stock. 
 Section 5.
Covenants of the Corporation. 
 (a) The Corporation agrees to take all Necessary Action to (i) cause the Board to comprise at
least nine (9) Directors or such other number of Directors as the Board may determine, subject to the terms of this Agreement, the Charter or the Bylaws of the Corporation; (ii) cause the individuals designated in accordance with
Section 1 to be included in the slate of nominees proposed to be elected to the Board at the next annual or special meeting of stockholders of the Corporation at which Directors are to be elected, or in actions by written
consent or otherwise so as to effectuate the provisions of this Agreement (as may be permitted under the Corporation’s Bylaws and Charter at the time of such vote), in accordance with the Bylaws, Charter, Securities Laws, and General
Corporation Law of the State of Delaware and at each annual meeting of stockholders of the Corporation thereafter at which such Director’s term expires or in any action by written consent or otherwise to effectuate the provisions of this
Agreement (as may be permitted under the Corporation’s Bylaws and Charter at the time of such vote); (iii) cause the individuals designated in accordance with Section 2(c) to fill the applicable vacancies on the Board,
in accordance with the Bylaws, Charter, Securities Laws, General Corporation Law of the State of Delaware; and (iv) to adhere to, implement and enforce the provisions set forth in Section 4. 

  
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 (b) HIG and the IVP Holdcos shall comply with the requirements of the Charter and Bylaws
when designating and nominating individuals as Directors, in each case, to the extent such requirements are applicable to Directors generally. Notwithstanding anything to the contrary set forth herein, in the event that the Board determines, within
sixty (60) days after compliance with the first sentence of this Section 5(b), in good faith, after consultation with outside legal counsel, that its nomination, appointment or election of a particular Director
designated in accordance with Section 1 or Section 2, as applicable, would constitute a breach of its fiduciary duties to the Corporation’s stockholders or does not otherwise comply with any
requirements of the Charter or Bylaws, then the Corporation shall inform HIG and/or the IVP Holdcos, as applicable, of such determination in writing and explain in reasonable detail the basis for such determination and shall cause the Board, to the
fullest extent permitted by law, to nominate, appoint or elect another individual designated for nomination, election or appointment to the Board by HIG and/or the IVP Holdcos, as applicable (subject in each case to this Section 5(b)). The
Corporation shall, and shall cause the Board to, to the fullest extent permitted by law, take all Necessary Action required by this Section 5 with respect to the election of such substitute designees to the Board. 

(c) Each Stockholder shall have the right, at any time or from time to time, to request and have made available to it by the Corporation such
financial and similar information not duplicative of what is customarily prepared by the Corporation as such Stockholder may reasonably request. Notwithstanding the foregoing, the Corporation may restrict access to the foregoing to the extent that
(x) any applicable law requires it or (y) the Corporation determines that restricting such access is reasonably necessary to preserve any evidentiary or attorney-client privilege or to comply with any contract. 

Section 6. Termination. 
 This
Agreement shall terminate, as to each individual party but not collectively to all parties, upon the earliest to occur of any one of the following events: 

(a) each of (i) HIG, (ii) the IVP Holdcos and (iii) CPPIB ceasing to beneficially own any shares of Common Stock; and 

(b) the unanimous written consent of the Corporation and each of HIG (if they continue to beneficially own any shares of Common Stock), each of
the IVP Holdcos (if they continue to beneficially own any shares of Common Stock) and CPPIB (if they continue to beneficially own any shares of Common Stock). 

For the avoidance of doubt, the rights and obligations of (i) HIG under this Agreement shall terminate upon HIG ceasing to beneficially
own any shares of Common Stock, (ii) the IVP Holdcos under this Agreement shall terminate upon the IVP Holdcos ceasing to beneficially own any shares of Common Stock and (iii) CPPIB under this Agreement shall terminate upon CPPIB ceasing
to beneficially own any shares of Common Stock. 
 Section 7. Definitions. 

As used in this Agreement, any term that it is not defined herein, shall have the following meanings: 

“Board” means the board of directors of the Corporation. 

“beneficially own” shall have the meaning given to such term in Rule 13d-3
promulgated under the Exchange Act, as the same may be amended or restated from time to time. 

  
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 “Bylaws” means the amended and restated bylaws of the Corporation, dated as
of the date hereof, as the same may be further amended, restated, amended and restated or otherwise modified from time to time. 

“Charter” means the amended and restated certificate of incorporation of the Corporation, effective as of the date hereof, as
the same may be further amended, restated, amended and restated or otherwise modified from time to time. 
 “Director”
means a member of the Board. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Necessary Action” means, with respect to a specified result, all commercially reasonable actions required to cause such
result that are within the power of a specified Person, including (i) voting or providing a written consent or proxy with respect to the equity securities owned by the Person obligated to undertake the necessary action, (ii) voting in
favor of the adoption of stockholders’ resolutions and amendments to the organizational documents of the Corporation, (iii) executing agreements and instruments, and (iv) making, or causing to be made, with governmental,
administrative or regulatory authorities, all filings, registrations or similar actions that are required to achieve such result. 

“Permitted Transferee” of a Person shall mean any “affiliate” of such Person as defined in Rule 405 promulgated
under the Securities Act of 1933, as amended. 
 “Person” means any individual, corporation, limited liability company,
partnership, trust, joint stock company, business trust, unincorporated association, joint venture, governmental authority or other entity or organization, including a government or any subdivision or agency thereof. 

“Securities Laws” means the Securities Act of 1933, as amended, and the Exchange Act, and the rules promulgated thereunder.

 “Subsidiary” means with respect to any Person, any corporation, limited liability company, partnership, association,
trust or other form of legal entity, of which (a) such first Person directly or indirectly owns or controls at least a majority of the securities or other interests having by their terms voting power to elect a majority of the board of
directors or others performing similar functions, or (b) such first Person is a general partner or managing member (excluding partnerships in which such Person or any Subsidiary thereof does not have a majority of the voting interests in such
partnership). 
 Unless the context of this Agreement otherwise requires, (i) words of any gender include each other gender;
(ii) words using the singular or plural number also include the plural or singular number, respectively; (iii) the terms “hereof,” “herein,” “hereby” and derivative or similar words refer to this entire
Agreement; (iv) the terms “Article” or “Section” refer to the specified Article or Section of this Agreement; (v) the word “including” shall mean “including, without limitation”; (vi) each defined
term has its defined meaning throughout this Agreement, whether the definition of such term appears before or after such term is used; and (vii) the word “or” shall be disjunctive but not exclusive. References to agreements and other
documents shall be deemed to include all subsequent amendments and other modifications thereto. References to statutes shall include all regulations promulgated thereunder and references to statutes or regulations shall be construed as including all
statutory and regulatory provisions consolidating, amending or replacing the statute or regulation. 

  
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 Section 8. Choice of Law and Venue; Waiver of Right to Jury Trial. 

(a) THIS AGREEMENT SHALL BE GOVERNED BY, CONSTRUED, APPLIED AND ENFORCED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF DELAWARE. EACH OF
THE PARTIES HERETO ACKNOWLEDGES AND AGREES THAT IN THE EVENT OF ANY BREACH OF THIS AGREEMENT, THE NON-BREACHING PARTY WOULD BE IRREPARABLY HARMED AND COULD NOT BE MADE WHOLE BY MONETARY DAMAGES, AND THAT, IN
ADDITION TO ANY OTHER REMEDY TO WHICH THEY MAY BE ENTITLED AT LAW OR IN EQUITY, THE PARTIES SHALL BE ENTITLED TO SUCH EQUITABLE OR INJUNCTIVE RELIEF AS MAY BE APPROPRIATE. THE CHOICE OF FORUM SET FORTH IN THIS SECTION SHALL NOT BE DEEMED TO PRECLUDE
THE ENFORCEMENT OF ANY JUDGMENT OF A DELAWARE FEDERAL OR STATE COURT, OR THE TAKING OF ANY ACTION UNDER THIS AGREEMENT TO ENFORCE SUCH A JUDGMENT, IN ANY OTHER APPROPRIATE JURISDICTION. 

(b) IN THE EVENT ANY PARTY TO THIS AGREEMENT COMMENCES ANY LITIGATION, PROCEEDING OR OTHER LEGAL ACTION IN CONNECTION WITH OR RELATING TO THIS
AGREEMENT, ANY RELATED AGREEMENT OR ANY MATTERS DESCRIBED OR CONTEMPLATED HEREIN OR THEREIN, THE PARTIES TO THIS AGREEMENT HEREBY (1) AGREE UNDER ALL CIRCUMSTANCES ABSOLUTELY AND IRREVOCABLY TO SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE COURT
OF CHANCERY OF THE STATE OF DELAWARE, OR IF (AND ONLY IF) SUCH COURT FINDS IT LACKS SUBJECT MATTER JURISDICTION, THE SUPERIOR COURT OF THE STATE OF DELAWARE (COMPLEX COMMERCIAL DIVISION), OR IF UNDER APPLICABLE LAW, SUBJECT MATTER JURISDICTION OVER
THE MATTER THAT IS THE SUBJECT OF THE ACTION OR PROCEEDING IS VESTED EXCLUSIVELY IN THE FEDERAL COURTS OF THE UNITED STATES OF AMERICA, THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF DELAWARE, AND APPELLATE COURTS FROM ANY THEREOF, WITH
RESPECT TO ALL ACTIONS AND PROCEEDINGS ARISING OUT OF OR RELATING TO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY; (2) AGREE THAT IN THE EVENT OF ANY SUCH LITIGATION, PROCEEDING OR ACTION, SUCH PARTIES WILL CONSENT AND SUBMIT TO THE
PERSONAL JURISDICTION OF ANY SUCH COURT DESCRIBED IN CLAUSE (1) OF THIS SECTION 8(B) AND TO SERVICE OF PROCESS UPON THEM IN ACCORDANCE WITH THE RULES AND STATUTES GOVERNING SERVICE OF PROCESS; (3) AGREE TO WAIVE TO THE FULL EXTENT
PERMITTED BY LAW ANY OBJECTION THAT THEY MAY NOW OR HEREAFTER HAVE TO THE VENUE OF ANY SUCH LITIGATION, PROCEEDING OR ACTION IN ANY SUCH COURT OR THAT ANY SUCH LITIGATION, PROCEEDING OR ACTION WAS BROUGHT IN ANY INCONVENIENT FORUM; (4) AGREE TO
WAIVE ANY RIGHTS TO A JURY TRIAL TO RESOLVE ANY DISPUTES OR CLAIMS RELATING TO THIS AGREEMENT; (5) AGREE TO SERVICE OF PROCESS IN ANY LEGAL PROCEEDING BY MAILING OF COPIES THEREOF TO SUCH PARTY AT ITS ADDRESS SET FORTH HEREIN FOR COMMUNICATIONS
TO SUCH PARTY; (6) AGREE THAT ANY SERVICE MADE AS PROVIDED HEREIN SHALL BE EFFECTIVE AND BINDING SERVICE IN EVERY RESPECT; AND (7) AGREE THAT NOTHING HEREIN SHALL AFFECT THE RIGHTS OF ANY PARTY TO EFFECT SERVICE OF PROCESS IN ANY OTHER
MANNER PERMITTED BY LAW. 
 Section 9. Notices. 

Any notice, request, claim, demand, document and other communication hereunder to any party shall be effective upon receipt (or refusal of
receipt) and shall be in writing and delivered personally or sent by facsimile, or by electronic mail, or first class mail, or by Federal Express or other similar courier or other similar means of communication, as follows: 

  
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	 	(a)	 If to HIG, addressed as follows: 

[ 🌑 ] 

with a copy (which copy shall not constitute notice) to: 

[ 🌑 ] 
  

	 	(b)	 If to the IVP Holdcos, addressed as follows: 

c/o Institutional Venture Partners 

3000 Sand Hill Road, Building 2, Suite 250 

Menlo Park, CA 94111 

Attn: Eric Liaw and Tracy Hogan 

E-mail: 

with a copy (which shall not constitute notice) to: 

Cooley LLP 

Three Embarcadero Center, 20th Floor 

San Francisco, CA 94111 

Attn: Jodie Bourdet 

E-mail: 
  

	 	(c)	 If to CPPIB, addressed as follows: 

[ 🌑 ] 

with a copy (which shall not constitute notice) to: 

[ 🌑 ] 

 

	 	(d)	 If to the Corporation, addressed as follows: 

Lulu’s Fashion Lounge Holdings, Inc. 

195 Humboldt Avenue 

Chico, California 95928 

Telephone: (530) 343-3545 

Attn: Chief Financial Officer 

E-mail: ___________________ 

with a copy (which copy shall not constitute notice) to: 

Latham & Watkins LLP 

1271 Avenue of the Americas 

New York, NY 10020-1300 
 Attn:
Marc Jaffe, Tad Freese and Adam Gelardi 
 E-mail: 

  
 7 

 or, in each case, to such other address or email address as such party may designate in writing to each
party by written notice given in the manner specified herein. All such communications shall be deemed to have been given, delivered or made when so delivered by hand or sent by facsimile (with confirmed transmission), on the next business day if
sent by overnight courier service (with confirmed delivery) or when received if sent by first class mail, or in the case of notice by electronic mail, when the relevant email enters the recipient’s server. 

Section 10. Assignment. 
 Except as
otherwise provided herein, all of the terms and provisions of this Agreement shall be binding upon, shall inure to the benefit of and shall be enforceable by the respective successors and permitted assigns of the parties hereto. This Agreement may
not be assigned (by operation of law or otherwise) without the express prior written consent of the other parties hereto, and any attempted assignment, without such consents, will be null and void; provided, however, that each of HIG,
the IVP Holdcos and CPPIB is permitted to assign this Agreement to their respective Permitted Transferees, in which case references to HIG, the IVP Holdcos, CPPIB, Stockholders and parties to this Agreement, as applicable, shall be deemed to include
such Permitted Transferees if they were originally signatories hereto, except to the extent otherwise provided herein. Each of HIG, the IVP Holdcos and CPPIB shall cause any of their respective Permitted Transferees to become a party to this
Agreement. References to beneficial ownership of percentages of issued and outstanding shares of Common Stock by a Stockholder herein shall include all ownership of shares of Common Stock by Permitted Transferees of such Stockholder. 

Section 11. Amendment and Modification; Waiver of Compliance. 

This Agreement may not be amended, modified, altered or supplemented except by means of a written instrument executed on behalf of each of the
Corporation, HIG, the IVP Holdcos and CPPIB. Except as otherwise provided in this Agreement, any failure of any of the parties to comply with any obligation, covenant, agreement or condition herein may be waived by the party or parties entitled to
the benefits thereof only by a written instrument signed by the party or parties granting such waiver, but such waiver or failure to insist upon strict compliance with such obligation, covenant, agreement or condition shall not operate as a waiver
of, or estoppel with respect to, any subsequent or other failure. 
 Section 12. Waiver. 

No failure on the part of either party hereto to exercise any power, right, privilege or remedy under this Agreement, and no delay on the part
of either party hereto in exercising any power, right, privilege or remedy under this Agreement, shall operate as a waiver thereof; and no single or partial exercise of any such power, right, privilege or remedy shall preclude any other or further
exercise thereof or of any other power, right, privilege or remedy. 
 Section 13. Severability. 

If any provision of this Agreement, or the application of such provision to any Person or circumstance or in any jurisdiction, shall be held to
be invalid or unenforceable to any extent, (i) the remainder of this Agreement shall not be affected thereby, and each other provision hereof shall be valid and enforceable to the fullest extent permitted by law, (ii) as to such Person or
circumstance or in such jurisdiction such provision shall be reformed to be valid and enforceable to the fullest extent permitted by law and (iii) the application of such provision to other Persons or circumstances or in other jurisdictions
shall not be affected thereby. 

  
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 Section 14. Counterparts. 

This Agreement may be executed in any number of counterparts and signatures may be delivered by facsimile, each of which may be executed by
less than all parties, each of which shall be enforceable against the parties actually executing such counterparts, and all of which together shall constitute one instrument. 

Section 15. Further Assurances. 
 At
any time or from time to time after the date hereof, the parties hereto agree to cooperate with each other, and at the request of any other party, to execute and deliver any further instruments or documents and to take all such further action as any
other party may reasonably request in order to evidence or effectuate the provisions of this Agreement and to otherwise carry out the intent of the parties hereunder. 

Section 16. Titles and Subtitles. 

The descriptive headings of this Agreement are inserted for convenience only and do not constitute a part of this Agreement. 

Section 17. Representations and Warranties. 

(a) Each of HIG, the IVP Holdcos, CPPIB and each Person who becomes a party to this Agreement after the date hereof, severally and not jointly
and solely with respect to itself, represents and warrants to the Corporation as of the time such party becomes a party to this Agreement that (1) if applicable, it is duly authorized to execute, deliver and perform this Agreement;
(2) this Agreement has been duly executed by such party and is a valid and binding agreement of such party, enforceable against such party in accordance with its terms; and (3) the execution, delivery and performance by such party of this
Agreement does not violate or conflict with or result in a breach of or constitute (or with notice or lapse of time or both constitute) a default under any agreement to which such party is a party or, if applicable, the organizational documents of
such party. 
 (b) The Corporation represents and warrants to each other party hereto that (1) the Corporation is duly authorized to
execute, deliver and perform this Agreement; (2) this Agreement has been duly authorized, executed and delivered by the Corporation and is a valid and binding agreement of the Corporation, enforceable against the Corporation in accordance with
its terms; and (3) the execution, delivery and performance by the Corporation of this Agreement does not violate or conflict with or result in a breach by the Corporation of or constitute (or with notice or lapse of time or both constitute) a
default by the Corporation under the Charter or Bylaws, any existing applicable law, rule, regulation, judgment, order, or decree of any governmental authority exercising any statutory or regulatory authority of any of the foregoing, domestic or
foreign, having jurisdiction over the Corporation or any of its Subsidiaries or any of their respective properties or assets, or any agreement or instrument to which the Corporation or any of its Subsidiaries is a party or by which the Corporation
or any of its Subsidiaries or any of their respective properties or assets may be bound. 
 Section 18. No Strict Construction. 

This Agreement shall be deemed to be collectively prepared by the parties hereto, and no ambiguity herein shall be construed for or against any
party based upon the identity of the author of this Agreement or any provision hereof. 

  
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 Section 19. Reimbursement for Expenses. 

The Corporation shall, within ten (10) business days of submission by each of HIG, the IVP Holdcos and/or CPPIB of documentation
evidencing legal fees and expenses, reimburse each of HIG, the IVP Holdcos and/or CPPIB for all legal fees and expenses reasonably incurred in connection with the preparation, negotiation and execution of this Agreement and any ancillary
documentation to this Agreement (including, but not limited to, any term sheet, summaries or registration rights agreements among the parties). Such invoices need not include any detail that may be deemed to waive the attorney-client privilege
between the Stockholders and their counsel. For the avoidance of doubt, this provision shall only apply to the Stockholders and not any Permitted Transferees. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 10 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on the day
and year first above written. 
  

			
	Lulu’s Fashion Lounge Holdings, Inc.
		
	By:	 	              

	Name:	 	
	Title:	 	

  
 [Signature Page to
Stockholders Agreement] 

 
			
	H.I.G. Growth Partners – Lulu’s, L.P.
	By: H.I.G.-GPII, Inc.,
	its General Partner
		
	By:	 	  

	Name:
	Title:

  
 [Signature Page to
Stockholders Agreement] 

 
			
	Institutional Venture Partners XV, L.P.,
	By: Institutional Venture Management XV, LLC,
	its General Partner
		
	By:	 	
                 

	Name:	 	
	Title:	 	
	
	Institutional Venture Partners XV Executive Fund, L.P.,
	By: Institutional Venture Management XV, LLC,
	its General Partner
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	Institutional Venture Partners XVI, L.P.,
	By: Institutional Venture Management XVI LLC,
	its General Partner
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 [Signature Page to
Stockholders Agreement] 

 
			
	Canada Pension Plan Investment Board
		
	By:	 	  

	Name:
	Title:

  
 [Signature Page to
Stockholders Agreement]Exhibit
10.1

 

SENIOR
SECURED PROMISSORY NOTE

 

	Effective
    Date: 	October
    14, 2021
	Borrower:	Wattum
    Management, Inc.
	Principal
    Amount:	$4,000,000
	Interest
    Rate:	5%
    per Annum

 

THEREFORE,
FOR VALUE RECEIVED, and subject to certain rights and conditions set forth herein, Wattum Management, Inc., a Wyoming corporation
with an address at 34 North Franklin Ave., Pinedale, Wyoming 82941 (the “Borrower”), promises to pay to the order
of Cryptyde, Inc., a Nevada corporation company (“Lender”), or to its order, at its address 200 9th Avenue
North, Suite 200, Safety Harbor, FL 34695, or at such other place as the Lender may designate, in lawful money of the United States of
America, the principal sum of Four Million Dollars US ($4,000,000), or so much thereof as shall have been advanced and is outstanding
(“Principal”) together with interest on the outstanding Principal balance, until paid in full in accordance with the
terms, conditions and provisions as hereinafter set forth in this Senior Secured Promissory Note (the “Note”). Borrower
understands that the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and who is entitled to receive
payments under this Note is called the “Note Holder.”

 

Borrower
and Lender each acknowledge that this is a business loan and that the Principal amount of this Note shall be used by Borrower for business
purposes including, but not limited to, leasing and/or acquiring interest in real property with access to a sufficient supply of power
(“Real Property”), purchasing and installing containers and transformers, and paying for costs and expenses incurred
in the ordinary course of Borrower’s business. This Note is secured by the assets of Borrower, which includes the Real Property
and all capital improvements and infrastructure assets, and improvements related thereto.

 

THE
OBLIGATIONS DUE UNDER THIS NOTE ARE SECURED BY A SECURITY AGREEMENT DATED AS OF THE DATE HEREOF AND EXECUTED BY BORROWER FOR THE BENEFIT
OF LENDER. ADDITIONAL RIGHTS OF LENDER ARE SET FORTH IN THE SECURITY AGREEMENT.

 

1.
Terms of Payment.

 

(a)
Borrower shall pay to Lender the Principal amount of this Note ($4,000,000) plus interest at a rate set forth in Section 2 of this Note.

 

(b)
The Loan shall be amortized over 25 years.

 

(c)
Borrower shall pay the full amount of all outstanding principal and interest in one balloon payment on October 12, 2026 (the “Maturity
Date”).

 

(d)
The entire unpaid obligation outstanding under this Note shall become due and payable on the Maturity Date. Failure to pay the amounts
due in accordance with the terms of this Note shall be a default under the terms of this Note. Any payments received prior to the Maturity Date shall be applied to Interest
accrued on the Principal first then to Principal.

 

    	Page 1 of 14

    	 

    

  

(e)
All payments under this Note shall be paid in currency of the United States of America, which at the time of payment is lawful for the
payment of public and private debts. All payments shall be made payable to Lender and mailed or delivered in person to Lender’s
address as set forth herein, via wire, or ACH, or to such other place as Lender may from time to time designate.

 

(f)
Notwithstanding any other provisions of this Note, or any instrument securing the obligations of Borrower under this Note, if, for any
reason whatsoever, the payment of any sums by Borrower pursuant to the terms of this Note would result in the payment of Interest which
would exceed the amount that Lender may legally charge under the laws of the Commonwealth of Pennsylvania, then amount by which payment
exceeds the Highest Lawful Rate shall automatically be deducted from the Principal balance owing on this Note, so that in no event shall
Borrower be obligated under the terms of this Note to pay any interest which would exceed the lawful rate.

 

(g)
Borrower shall pay to Lender all sums owing under this Note without deduction, offset, or counterclaim of any kind. The relationship
of Borrower and Lender under this Note is solely that of borrower and lender, and the loan evidenced by this Note and pursuant to the
Security Agreement will in no manner make Lender the partner or joint venturer of Borrower.

 

2.
Interest. Interest (“Interest”) on the unpaid Principal balance of this Note shall accrue at a rate of Five
Percent (5%) per annum from the effective date of this Note until repayment of this Note in full.

 

Anything
herein to the contrary notwithstanding, if during any period for which Interest is computed hereunder, the amount of interest computed
on the basis provided for in this Note, together with all fees, charges and other payments which are treated as interest under applicable
law, as provided for herein or in any other document executed in connection herewith, would exceed the amount of such interest computed
on the basis of the Highest Lawful Rate, Borrower shall not be obligated to pay, and Lender shall not be entitled to charge, collect,
receive, reserve or take interest in excess of the Highest Lawful Rate, and during any such period the interest payable hereunder shall
be computed on the basis of the Highest Lawful Rate. For purposes of this Note, the “Highest Lawful Rate” shall be
defined as the maximum non-usurious rate of interest, as in effect from time to time, which may be charged, contracted for, reserved,
received or collected by Lender in connection with this Note under applicable law.

 

3.
Prepayment. Borrower may prepay the unpaid Principal balance of this Note, in whole or in part, together with all Interest accrued
on the portion without any penalty.

 

4.
Balloon Payment. Borrower promises to make a single, final payment for the entire Principal balance, plus all unpaid accrued interest,
owed to Lender on or before the Maturity Date.

 

    	Page 2 of 14

    	 

    

 

5.
Grant of Security Interest. Borrower’s payment of all amounts due under this Note are secured pursuant to the Security Agreement
attached hereto as Exhibit “A” and incorporated herein by this reference (the “Security Agreement”)
under which Borrower pledges and assigns to Lender the following properties: (i) any and all of Borrower’s real property; (ii)
any and all of Borrower’s tangible personal property, fixtures, leasehold improvements, trade fixtures, equipment, inventory and
any and all other personal property; (iii) any and all of Borrower’s motor vehicles, vessels, mobile homes, or commercial coaches
used as equipment of a going business; (iv) any and all inventory now owned or hereafter acquired, including, without limitation, all
merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products including such inventory
as is temporarily out of Borrower’s custody or possession or in transit and including any returns upon any accounts or other proceeds,
including insurance proceeds, resulting from the sale or disposition of any of the foregoing and any documents of title representing
any of the above; (v) any and all of Borrower’s accounts receivable, deposit accounts and final money judgments including all open
accounts, notes, or other obligations for the payment of money acquired by Borrower, and all cash and non-cash proceeds thereof; (vi)
any of Borrower’s rights to any property sold or leased which receivables are created or arise out of the sale of merchandise by
Borrower in the regular course of business; (vii) any and all of Borrower’s cash and non-cash proceeds (including insurance proceeds)
and property in a safe-deposit box; (viii) all presently owned and a later acquired equipment, machinery, furniture, tools, replacements
and improvements of any of the foregoing, together with the products and proceeds thereof; (ix) all contract rights, general intangibles,
health care insurance receivables, payment intangibles and commercial tort claims, now owned or hereafter acquired, including, without
limitation, all patents, patent rights (and applications and registrations therefor), trademarks and service marks (and applications
and registrations therefor), inventions, copyrights, mask works (and applications and registrations therefor), trade names, trade styles,
software and computer programs, trade secrets, methods, processes, know how, drawings, specifications, descriptions, and all memoranda,
notes, and records with respect to any research and development, goodwill, license agreements, franchise agreements, blueprints, drawings,
purchase orders, customer lists, route lists, infringements, claims, computer programs, computer disks, computer tapes, literature, reports,
catalogs, design-rights, income tax refunds, payments of insurance and rights to payment of any kind and whether in tangible or intangible
form or contained on magnetic media readable by machine together with all such magnetic media; (x) all property goods, chattels, tangible
or intangible property in the same classes as detailed above; (xi) and all proceeds thereof, whether presently owned or acquired later,
if any; and (xii) all products thereof and all additions and accessions thereto, substitutions therefor and replacements thereof (collectively,
the “Collateral”). Such security interest shall exist continually until all amounts owed hereunder are satisfied.

 

This
security interest is granted to secure any and all debt owed by Borrower to Lender pursuant to this Note and all costs and expenses incurred
by Lender in the collection of the debt. By signing below, Borrower represents, warrants and covenants, among other things, (a) Borrower
has good, marketable and indefeasible title to the Collateral and, except for senior encumbrances existing as of the date of this Note
and the security interest created by this Note, Borrower has not made any prior sale, pledge, encumbrance, assignment or other disposition
of any of the Collateral, and the Collateral is free from all encumbrances and rights of setoff of any kind except the lien in favor
of Lender created by this Note and attached Security Agreement and any senior encumbrances existing as of the date of this Note, and
shall at all times continue to be, a first priority perfected security interest in the Collateral; (b) except as herein provided, Client
will not hereafter without Lender’s prior written consent sell, pledge, encumber, assign or otherwise dispose of any of the Collateral
or permit any right of setoff, lien or security interest to exist thereon except to Lender; and (c) Borrower will defend the Collateral
against all claims and demands of all persons at any time claiming the same or any interest therein.

 

    	Page 3 of 14

    	 

    

 

Lender,
in its discretion, may file one or more financing statements under the Uniform Commercial Code, naming Borrower as a debtor and Lender
as secured party and indicating the Collateral specified in this Note and attached Security Agreement.

 

Borrower
shall execute, deliver and record a purchase money mortgage on any Real Property acquired with the loan proceeds.

 

6.
Event of Default. Any of the following events shall constitute an “Event of Default”:

 

(a)
Intentionally left blank;

 

(b)
Borrower shall fail to execute, deliver and record a purchase money mortgage on all Real Property acquired with the loan proceeds;

 

(c)
Borrower shall fail to pay when due any amount of Principal or Interest hereunder or other amount payable hereunder or under the Security
Agreement;

 

(d)
Borrower shall fail to observe or perform any other covenant, obligation, condition or agreement contained in this Note or the Security
Agreement; or

 

(e)
Any representation or warranty made or furnished by or on behalf of Borrower to Lender in writing in connection with this Note or the
Security Agreement shall be false, incorrect, incomplete or misleading in any material respect when made or furnished.

 

(f)
Borrower shall: (i) apply for or consent to the appointment of a receiver, trustee, liquidator or custodian of itself or of all or any
material part of its property; (ii) admit in writing its inability to pay its debts generally as they mature; (iii) make a general assignment
for the benefit of its or any of its creditors; (iv) be dissolved or liquidated in full or in part; (v) commence a voluntary case or
other proceeding seeking liquidation, reorganization or other relief with respect to itself or its debts under any bankruptcy, insolvency
or other similar law now or hereafter in effect or consent to any such relief or to the appointment of or taking possession of its property
by any official in an involuntary case or other proceeding commenced against it; or (vi) take or approve any action for the purpose of
effecting any of the foregoing.

 

7.
Lender’s remedies upon Default.

 

(a)
Upon the occurrence of an Event of Default, the entire Principal balance of this Note, together with any accrued Interest, fees and costs,
shall be immediately due and payable. In addition, Lender may pursue all rights and remedies available to it under this Note and Security
Agreement, and at law or in equity. Borrower acknowledges and agrees that Lender’s remedies include the right to accelerate the
Note by declaring the outstanding Principal balance of this Note, together with all accrued and unpaid Interest, fees and costs, due
and payable immediately without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived
by Borrower. Notwithstanding the terms of this Note, if any other document related to this Note provides for the automatic acceleration
of payment by Borrower of sums owing under this Note, all sums owing shall be automatically due and payable in accordance with the terms
of such other document.

 

(b)
Upon a default, Note Holder may begin accruing interest on the unpaid Principal balance at a rate per annum equal to the interest rate
provided for in Section 2, above, plus five (5%) per annum; provided, however, that no interest shall accrue hereunder in excess of the
maximum rate of interest then allowed by law. Borrower agrees to pay such accrued interest on demand. The default rate of interest set
forth herein is strictly a measure of liquidated damages to the Note Holder and is not meant to be construed as a penalty.

 

9.
Miscellaneous Provisions.

 

(a)
All notices and consents required under this Note and the attached Security Agreement shall be made in writing and shall be deemed communicated
by personal delivery, by first-class United States Mail, postage prepaid, or by a nationally-recognized overnight courier service, provided
that next-business day service is requested, to the following addresses:

 

	 	To
    Borrower: 	Wattum
    Management, Inc.
	 	 	34
    North Franklin Ave. 
	 	 	Pinedale,
    Wyoming 82941
	 	 	Att:
    Igor Soshkin, Co-CEO
	 	 	 
	 	With
    a copy	 
	 	via
    email to: 	legal@wattum.io
	 	 	 
	 	To
    Lender:	Cryptyde,
    Inc.
	 	 	200
    9th Avenue North
	 	 	Suite
    200
	 	 	Safety
    Harbor, FL 34695
	 	 	Att:
    Brian McFadden, President

 

(b)
 Notices delivered personally shall be deemed delivered as of such date the notice is delivered or delivery thereof is rejected by the
addressee, notices delivered by first-class United States Mail shall be deemed delivered three (3) business days after deposit with the
United States Postal Service, and notices delivered by overnight courier shall be deemed delivered the next business day following deposit
of such notice with the overnight courier, provided that next business day service is requested.

 

(c)
Lender identified in this Note shall not be deemed, by any act or omission, past, present or future, to have waived any of its rights
or remedies under this Note unless the waiver is in writing and signed by Lender and then only to the extent specifically set forth in
writing. A waiver with reference to one event shall not be construed as continuing or as a bar to or waiver of any right or remedy as
to a subsequent event. No delay or omission of the Lender of this Note to exercise any right, whether before or after a default hereunder,
will impair any such right or will be construed to be a waiver of any right or default. The acceptance at any time by Lender of this
Note of any past-due amount will not be deemed to be a waiver of the right to require prompt payment when due of any other amounts then
or thereafter due and payable. If there are any inconsistencies between the terms of this Note and the terms of any of the other documents,
including, but not limited to, the Security Agreement, the terms of this Note will prevail.

 

    	Page 4 of 14

    	 

    

 

(d)
It is expressly agreed that if this Note, the Security Agreement or any other related document is referred to an attorney or if suit
is brought to collect all or any part of this Note or enforce or construe any provision of the Note, Security Agreement or any other
related document, then, upon Lender’s demand, Borrower promises and agrees to pay all reasonable costs, including reasonable attorneys’
fees, incurred by Lender, together with interest at the default rate of interest set forth herein, until paid in full. If any type of
litigation is commenced related to this Note and/or the Security Agreement, including but not limited to, litigation arising from the
enforcement of or a default under this Note, the non-prevailing party shall pay all reasonable costs and expenses, including reasonable
attorneys’ fees, incurred by the prevailing party in such litigation.

 

(e)
This Note may be amended only by an agreement in writing signed by both Borrower and Lender.

 

(f)
Time is of the essence for the performance of all obligations of Borrower hereunder.

 

(g)
The remedies of Lender under this Note, as provided herein, or in law or in equity, shall be cumulative and concurrent, and may be
pursued singularly, successively, or together at the sole discretion of the Lender hereof, and may be exercised as often as occasion
to exercise them may occur. The failure to exercise any such right or remedy shall in no event be construed as a waiver or a release
thereof.

 

(h)
If this Note is executed by more than one person or entity as Borrower, the obligations of each person or entity will be joint and several.
No person or entity will be a mere accommodation maker, but each will be primarily and directly liable.

 

(i)
Intentionally left blank.

 

(j)
The terms, covenants and conditions contained herein will be binding upon the heirs, successors and assigns of Borrower and will inure
to the benefit of the successors and assigns of Lender.

 

(k)
This Note, and all related documents, will be construed in accordance with the laws of the Commonwealth of Pennsylvania and may be enforced
in any other state having jurisdiction over this matter. All persons and entities in any manner obligated under this Note consent to
the jurisdiction of any Federal or State Court within the Commonwealth of Pennsylvania, having proper venue and also consent to service
of process by any means authorized by law.

 

(l)
Borrower hereby represents and warrants that they have been advised to seek counsel with respect to their rights and obligations related
to this Note and associated Security Agreement. Borrower has been advised to seek counsel to review this Note and the associated Security
Agreement prior to executing.

 

    	Page 5 of 14

    	 

    

 

Borrower
has duly executed this Note the day and year first above written and has hereunto set Borrower’s hand and seal.

 

	BORROWER:	 
	 	 
	Wattum
    Management, Inc.	 
	 	 	 
	By:	/s/
    Igor Soshkin	 
	 	Igor
    Soshkin, Co-CEO	 

 

    	Page 6 of 14

    	 

    

 

 

A
Notary Public or other officer completing this certificate verifies only the identity of the individual who signed the document to which
this certificate is attached, and not the truthfulness, accuracy, or validity of that document.

 

 

State
of Florida

County
of Miami-Dade

 

	On 	10/18/2021	before
    me,	Ann
Marie Alvarez,

personally
appeared Igor Soshkin, who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to
the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by
his/her/their signature(s) on the instrument the person(s), or Wattum Management, Inc., the entity upon behalf of which the person(s)
acted, executed the instrument.

 

I
certify under PENALTY OF PERJURY under the laws of the State of Florida that the foregoing paragraph is true and correct.

 

 

    	Page 7 of 14

    	 

    

 

EXHIBIT
A 

 

SECURITY
AGREEMENT

 

THIS
SECURITY AGREEMENT (the “Security Agreement”), dated for reference purposes October , 2021, is entered into by
and between Wattum Management Inc. (the “Borrower”), and Cryptyde, Inc., a Nevada corporation (“Lender”),
with reference to the following facts:

 

	A.	 	Borrower
    has executed a Senior Secured Promissory Note (as amended, modified or otherwise supplemented from time to time, the “Note”),
    in the Principal amount of $4,000,000, or so much thereof as shall have been advanced and is outstanding, in favor of Lender;
	 	 	 
	B.
    	 	Pursuant
    to the Note, Borrower has agreed to enter into this Security Agreement and to grant Lender the security interest in the Collateral
    described below.

 

NOW,
THEREFORE, in consideration of the promises contained herein and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto agree as follows:

 

1.
Definitions and Interpretation. When used in this Security Agreement, the following terms have the following respective meanings:

 

(a)
“Collateral” has the meaning given to that term in Section 2 hereof.

 

(b)
“Lien” means, with respect to any property, any security interest, mortgage, pledge, lien, claim, charge or other encumbrance
in, of, or on such property or the income therefrom, including, without limitation, the interest of a vendor or lessor under a conditional
sale agreement, capital lease or other title retention agreement, or any agreement to provide any of the foregoing, and the filing of
any financing statement or similar instrument under the UCC or comparable law of any jurisdiction.

 

(c)
“Obligations” means all loans, advances, debts, liabilities and obligations, howsoever arising, owed by Borrower to Lender
of every kind and description (whether or not evidenced by any note or instrument and whether or not for the payment of money), now existing
or hereafter arising under or pursuant to the terms of the Note and this Security Agreement, including, all interest, fees, charges,
expenses, attorneys’ fees and costs and accountants’ fees and costs chargeable to and payable by Borrower hereunder and thereunder,
in each case, whether direct or indirect, absolute or contingent, due or to become due, and whether or not arising after the commencement
of a proceeding under Title 11 of the United States Code (11 U.S.C. Section 101 et seq.), as amended from time to time (including post-petition
interest) and whether or not allowed or allowable as a claim in any such proceeding.

 

    	Page 8 of 14

    	 

    

 

(d)
“Permitted Liens” means (a) Liens for taxes not yet delinquent or Liens for taxes being contested in good faith and by appropriate
proceedings for which adequate reserves have been established; (b) Liens in respect of property or assets imposed by law which were incurred
in the ordinary course of business, such as carriers’, warehousemen’s, materialmen’s and mechanics’ Liens and
other similar Liens arising in the ordinary course of business which are not delinquent or remain payable without penalty or which are
being contested in good faith and by appropriate proceedings; (c) Liens incurred or deposits made in the ordinary course of business
in connection with workers’ compensation, unemployment insurance and other types of social security, and mechanic’s Liens,
carrier’s Liens and other similar Liens to secure the performance of tenders, statutory obligations, contract bids, government
contracts, performance and return of money bonds and other similar obligations, incurred in the ordinary course of business, whether
pursuant to statutory requirements, common law or consensual arrangements; (d) Liens in favor of Lender; (e) Liens made in the ordinary
course of business upon any equipment acquired or held by Borrower to secure the purchase price of such equipment or indebtedness incurred
solely for the purpose of financing the acquisition of such equipment, so long as such Lien extends only to the equipment financed, and
any accessions, replacements, substitutions and proceeds (including insurance proceeds) thereof or thereto; (f) Liens arising from judgments,
decrees or attachments in circumstances not constituting an Event of Default; (h) Liens made in the ordinary course of business which
constitute rights of setoff of a customary nature or banker’s liens, whether arising by law or by contract; (i) Liens on insurance
proceeds in favor of insurance companies granted solely as security for financed premiums; and (j) leases or subleases and licenses or
sublicenses granted in the ordinary course of Borrower’s business.

 

(e)
“UCC” means the Uniform Commercial Code as in effect from time to time.

 

All
capitalized terms not otherwise defined herein shall have the respective meanings given in the Note. Unless otherwise defined herein,
all terms defined in the UCC have the respective meanings given to those terms in the UCC.

 

2.
Grant of Security Interest. Borrower hereby grants to Lender, to secure the payment and performance in full of all of the Obligations,
a security interest in and so pledges and assigns to Lender the following properties, assets and rights of Borrower, wherever located
(all of the same being hereinafter called the “Collateral”): (i) any and all of Borrower’s tangible personal
property, fixtures, leasehold improvements, trade fixtures, equipment, inventory and any and all other personal property; (ii) any and
all of Borrower’s motor vehicles, vessels, mobile homes, or commercial coaches used as equipment of a going business; (iii) any
and all inventory now owned or hereafter acquired, including, without limitation, all merchandise, raw materials, parts, supplies, packing
and shipping materials, work in process and finished products including such inventory as is temporarily out of Borrower’s custody
or possession or in transit and including any returns upon any accounts or other proceeds, including insurance proceeds, resulting from
the sale or disposition of any of the foregoing and any documents of title representing any of the above; (iv) any and all of Borrower’s
accounts receivable, deposit accounts and final money judgments including all open accounts, notes, or other obligations for the payment
of money acquired by Borrower, and all cash and non-cash proceeds thereof; (v) any of Borrower’s rights to any property sold or
leased which receivables are created or arise out of the sale of merchandise by Borrower in the regular course of business; (vi) any
and all of Borrower’s cash and non-cash proceeds (including insurance proceeds) and property in a safe-deposit box; (vii) all presently
owned and a later acquired equipment, machinery, furniture, tools, replacements and improvements of any of the foregoing, together with
the products and proceeds thereof; (viii) all contract rights, general intangibles, health care insurance receivables, payment intangibles
and commercial tort claims, now owned or hereafter acquired, including, without limitation, all patents, patent rights (and applications
and registrations therefor), trademarks and service marks (and applications and registrations therefor), inventions, copyrights, mask
works (and applications and registrations therefor), trade names, trade styles, software and computer programs, trade secrets, methods,
processes, know how, drawings, specifications, descriptions, and all memoranda, notes, and records with respect to any research and development,
goodwill, license agreements, franchise agreements, blueprints, drawings, purchase orders, customer lists, route lists, infringements,
claims, computer programs, computer disks, computer tapes, literature, reports, catalogs, design- rights, income tax refunds, payments
of insurance and rights to payment of any kind and whether in tangible or intangible form or contained on magnetic media readable by
machine together with all such magnetic media; (ix) all property goods, chattels, tangible or intangible property in the same classes
as detailed above; (x) all proceeds thereof, whether presently owned or acquired later, if any; and (xi) all products thereof and all
additions and accessions thereto, substitutions therefor and replacements thereof.

 

    	Page 9 of 14

    	 

    

 

3.
Authorization to File Financing Statements. Borrower hereby irrevocably authorizes Lender at any time after an Event of Default
to file in any Uniform Commercial Code jurisdiction any initial financing statements and amendments thereto that (a) indicate the Collateral
(i) as all assets of Borrower or words of similar effect, regardless of whether any particular asset comprised in the Collateral falls
within the scope of Article 9 of the Uniform Commercial Code of the State or such jurisdiction, or (ii) as being of an equal or lesser
scope or with greater detail, and (b) contain any other information required by part 5 of Article 9 of the Uniform Commercial Code of
the State for the sufficiency or filing office acceptance of any financing statement or amendment, including (i) whether Borrower is
an organization, the type of organization and any organization identification number issued to Borrower and, (ii) in the case of a financing
statement filed as a fixture filing or indicating Collateral as extracted collateral or timber to be cut, a sufficient description of
real property to which the Collateral relates. Borrower agrees to furnish any such information to Lender promptly upon request.

 

4.
Representations and Warranties Concerning Collateral, Etc. Borrower represents and warrants to Lender that Borrower is the owner
of, or will become the owner of the Collateral, free from any adverse lien, security interest or other encumbrance, except for Permitted
Liens, senior encumbrances existing as of the date of this Agreement and the security interest created by this Agreement.

 

5.
Relation to Other Documents. The provisions of this Security Agreement supplement the provisions of any other agreement entered
into between the parties regarding the Note.

 

6.
Default and Remedies.

 

(a)
Default. Borrower shall be deemed in default under this Security Agreement upon the occurrence and during the continuance of an
Event of Default (as defined in the Note).

 

    	Page 10 of 14

    	 

    

 

(b)
Remedies. If an Event of Default shall have occurred and be continuing, Lender may, without notice to or demand upon Borrower,
declare this Security Agreement to be in default, and Lender shall thereafter have in any jurisdiction in which enforcement hereof is
sought, in addition to all other rights and remedies, the rights and remedies of a secured party under the UCC, including, without limitation,
the right to take possession of the Collateral, and for that purpose Lender may, so far as Borrower can give authority therefor, enter
upon any premises on which the Collateral may be situated and remove the same therefrom. Lender may in its discretion require Borrower
to assemble all or any part of the Collateral at such location or locations within the jurisdiction(s) of Borrower’s principal
office(s) or at such other locations as Lender may reasonably designate. Unless the Collateral is perishable or threatens to decline
speedily in value or is of a type customarily sold on a recognized market, Lender shall give to the Debtors at least five business days
prior written notice of the time and place of any public sale of Collateral or of the time after which any private sale or any other
intended disposition is to be made. Borrower hereby acknowledges that five business days prior written notice of such sale or sales shall
be reasonable notice. In addition, Borrower waives any and all rights that it may have to a judicial hearing in advance of the enforcement
of any of Lender’s rights hereunder, including, without limitation, its right following an Event of Default to take immediate possession
of the Collateral and to exercise its rights with respect thereto.

 

(c)
Application of Collateral Proceeds. The proceeds and/or avails of the Collateral, or any part thereof, and the proceeds and the
avails of any remedy hereunder (as well as any other amounts of any kind held by Lender at the time of, or received by Lender after,
the occurrence of an Event of Default) shall be paid to and applied as follows:

 

(i)
First, to the payment of reasonable costs and expenses, including all amounts expended to preserve the value of the Collateral, of foreclosure
or suit, if any, and of such sale and the exercise of any other rights or remedies, and of all proper fees, expenses, liability and advances,
including reasonable legal expenses and attorneys’ fees, incurred or made hereunder by Lender;

 

(ii)
Second, to the payment to Lender of the amount then owing and unpaid to Lender (to be applied first to accrued interest and second to
outstanding principal);

 

(iii)
Third, to the payment of other amounts then payable to Lender under the Note or this Security Agreement; and

 

(iv)
Fourth, to the payment of the surplus, if any, to Borrower, its successors and assigns, or to whomsoever may be lawfully entitled to
receive the same.

 

7.
Miscellaneous

 

(a)
Termination of Security Interest. Upon the payment in full of all Obligations, the security interest granted herein shall terminate
and all rights to the Collateral shall revert to Borrower. Upon such termination Lender hereby authorizes Borrower to file any UCC termination
statements necessary to effect such termination and Lender will execute and deliver to Borrower any additional documents or instruments
as Borrower shall reasonably request to evidence such termination.

 

    	Page 11 of 14

    	 

    

 

 

(b)
Nonwaiver. No failure or delay on Lender’s part in exercising any right hereunder shall operate as a waiver thereof or of
any other right nor shall any single or partial exercise of any such right preclude any other further exercise thereof or of any other
right.

 

(c)
Amendments and Waivers. This Security Agreement may not be amended or modified, nor may any of its terms be waived, except by
written instruments signed by Borrower and Lender. Each waiver or consent under any provision hereof shall be effective only in the specific
instances for the purpose for which given.

 

(d)
Assignments. This Security Agreement shall be binding upon and inure to the benefit of successors, assigns, heirs, administrators
and transferees of the parties; provided, however, that Borrower may not sell, assign or delegate rights and obligations hereunder without
the prior written consent of Lender.

 

(e)
Cumulative Rights and Related. The rights, powers and remedies of Lender under this Security Agreement shall be in addition to
all rights, powers and remedies given to Lender by virtue of any applicable law, rule or regulation of any governmental authority, the
Note or any other agreement, all of which rights, powers, and remedies shall be cumulative and may be exercised successively or concurrently
without impairing Lender’s rights hereunder. Borrower waives any right to require Lender to proceed against any person or entity
or to exhaust any Collateral or to pursue any remedy in Lender’s power.

 

(f)
Partial Invalidity. If at any time any provision of this Security Agreement is or becomes illegal, invalid or unenforceable in
any respect under the law or any jurisdiction, neither the legality, validity or enforceability of the remaining provisions of this Security
Agreement nor the legality, validity or enforceability of such provision under the law of any other jurisdiction shall in any way be
affected or impaired thereby.

 

(g)
Construction. Each of this Security Agreement and the Note is the result of negotiations among, and has been reviewed by, Borrower,
Lender and their respective counsel. Accordingly, this Security Agreement and the Note shall be deemed to be the product of all parties
hereto, and no ambiguity shall be construed in favor of or against Borrower or Lender.

 

(h)
Entire Agreement. This Security Agreement and the Note constitute and contain the entire agreement of Borrower and Lender and
supersede any and all prior agreements, negotiations, correspondence, understandings and communications among the parties, whether written
or oral, respecting the subject matter hereof.

 

(i)
Other Interpretive Provisions. References in this Security Agreement and the Note to any document, instrument or agreement (a)
includes all exhibits, schedules and other attachments thereto, (b) includes all documents, instruments or agreements issued or executed
in replacement thereof, and (c) means such document, instrument or agreement, or replacement or predecessor thereto, as amended, modified
and supplemented from time to time and in effect at any given time. The words “hereof,” “herein” and “hereunder”
and words of similar import when used in this Security Agreement or the Note refer to this Security Agreement or the Note, as the case
may be, as a whole and not to any particular provision of this Security Agreement or the Note, as the case may be. The words “include”
and “including” and words of similar import when used in this Security Agreement or the Note shall not be construed to be
limiting or exclusive.

 

    	Page 12 of 14

    	 

    

 

 

(j)
Governing Law. This Security Agreement and all actions arising out of or in connection with this Security Agreement shall be governed
by and construed in accordance with the internal laws of the Commonwealth of Pennsylvania, without regard to the conflicts of law rules
of any other jurisdiction (except to the extent governed by the UCC).

 

(k)
Counterparts. This Security Agreement may be executed in any number of counterparts, each of which shall be an original, but all
of which together shall be deemed to constitute one instrument.

 

(l)
Further Assurances. Borrower shall execute, acknowledge, deliver, file, notarize and register (at its own expense) all documents,
instruments, certificates, agreements and assurances and provide all information and take or forbear from all such action as Lender may
reasonably deem necessary or appropriate to achieve the purposes of the Security Agreement or satisfy the obligations of Borrower hereunder.

 

(m)
No Attorney Client Relationship For The Purposes Of This Note. Borrower hereby represents and warrants that they have been advised
to seek alternate counsel with respect to their rights and obligations related to this Note and associated Security Agreement. Borrower
has been advised to seek counsel to review this Note and the associated Security Agreement prior to executing.

 

IN
WITNESS WHEREOF, Borrower has caused this Security Agreement to be executed as of the day and year first above written.

 

 

	LENDER:
    	 	 	BORROWER:
	 	 	 	 	 
	CRYPTYDE, INC.	 	 	WATTUM
    MANAGEMENT, INC.
	 	 	 	 	 
	 	 	 	10/18/2021
	Date Signed	 	 	Date
    Signed
	 	 	 	 	 
	1 West Broad Street 	 	 	 
	Suite 1004	 	 	34
    North Franklin Ave. 
	Bethlehem, PA 18018	 	 	Pinedale, Wyoming 82941
	Lender’s Address	 	 	Borrower’s
Address 

	 	 	 	 	 
	Cryptyde,Inc.,	 	 	Wattum
    Management, Inc.
	a Nevada corporation	 	 	A
    Wyoming corporation
	 	 	 	 	 
	By:	/s/
    Brian McFadden	 	By:
 

    
	/s/
Igor Soshkin
	Its:	President	 	Its:	Co-CEO
    and Authorized Signatory

 

    	Page 13 of 14

    	 

    

 

 

A
Notary Public or other officer completing this certificate verifies only the identity of the individual who signed the document to which
this certificate is attached, and not the truthfulness, accuracy, or validity of that document.

 

 

State
of Florida

County of Miami-Dade

 

	On 	10/18/2021	before
    me,	Ann
    Marie Alvarez,

personally
appeared Igor Soshkin, who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to
the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by
his/her/their signature(s) on the instrument the person(s), or Wattum Management, Inc., the entity upon behalf of which the person(s)
acted, executed the instrument.

 

I
certify under PENALTY OF PERJURY under the laws of the State of Florida that the foregoing paragraph is true and correct.

 

 

    	Page 14 of 14

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