Document:

Exhibit
10.5

 

FIRST
AMENDMENT

TO

AMENDMENT
AGREEMENT

 

This
First Amendment to Amendment Agreement (this “Amendment”) is entered as of September 14, 2022, by and among
Hudson Bay Master Fund Ltd. or its nominees (“Holder”) and Cryptyde, Inc., a Delaware corporation (the “Company”).

 

RECITALS

 

A.
Holder and the Company entered into the Amendment Agreement (the “Amendment Agreement”) dated as of July 28,
2022, which, among other things, amended the Purchase Agreement (as amended, the “SPA”) dated as of January
26, 2022 by and between the Company and the Holder and the Senior Secured Convertible Note in an aggregate principal amount of $33,333,333
issued to the Holder by the Company under the SPA (as amended, the “Note”).

 

B.
Pursuant to the Amendment Agreement, the Company is required to maintain on deposit in the Control Account not less than $1 million plus
the Warrant Exercise Cash Percentage.

 

C.
Pursuant to the Amendment Agreement, the Warrant Exercise Cash Percentage is 50% of the Warrant Exercise Cash, which includes all amounts
paid in cash to the Company for the exercise of any outstanding warrants.

 

D.
Holder and the Company wish to amend the Amendment Agreement to eliminate the requirement to deposit the Warrant Exercise Cash Percentage
of the Warrant Exercise Cash in to the Control Account so long as the balance of the Control Account equals or exceeds the Conversion
Amount of the Note as of the applicable date of determination.

 

E.
Capitalized terms used and not otherwise defined in this Amendment shall have the meanings given to such terms in the SPA, Note and/or
Amendment Agreement.

 

F.
Based on the Recitals set forth above and the promises contained herein, the parties agree as follows:

 

 AMENDMENTS

 

1.
Amendment to Section 4(d) of the Amendment Agreement. Section 4(d) of the Amendment Agreement is hereby amended by removing Section
4(d) of the Amendment Agreement in its entirety and replacing it to read as follows:

 

“Upon
the exercise of any warrant issued by TYDE on or prior to the date hereof or that TYDE may from time to time issue following the date
hereof, including, but not limited to, the Warrants, whereby the holder of such warrants is paying the applicable exercise price in cash
(such cash amount, the “Warrant Exercise Cash”), TYDE shall deposit the Warrant Exercise Cash Percentage (as
defined below) of such Warrant Exercise Cash into the Control Account, provided however, if, at any time, the balance of the Control
Account exceeds the outstanding Conversion Amount of the Note at such time, so long as there is no Event of Default or event that with
the passage of time or giving of notice would constitute an Event of Default as of any such date of determination, TYDE shall be permitted
to remove an amount of cash equal to such excess from the Control Account. Any holder of such warrants may wire the Warrant Exercise
Cash Percentage of its Warrant Exercise Cash directly to the Control Account with the balance of its exercise price being paid directly
to TYDE. As used herein, “Warrant Exercise Cash Percentage” means fifty percent (50%).”

 

2.
Confirmation of Amendment Agreement. The parties hereby confirm that, except to the extent specifically amended hereby, the provisions
of the Amendment Agreement shall remain unmodified and the Amendment Agreement as so amended is hereby confirmed as being in full force
and effect.

 

3.
Miscellaneous. This Amendment and the Amendment Agreement as amended hereby shall be binding upon and shall inure to the benefit
of the parties to the Amendment and the Amendment Agreement and their respective successors.

 

    	 

     

    

 

IN
WITNESS WHEREOF, this Amendment has been executed as of the date first written above.

 

	 	BUYER:
	 	 
	 	HUDSON BAY MASTER FUND LTD.
	 	 	 
	 	By:
    	/s/
    Richard Allison
	 	Name:
    	Richard
    Allison
	 	Title:
    	Authorized
    Signatory*
	 	 	 
	 	COMPANY:
	 	 
	 	CRYPTYDE, INC.
	 	 	 
	 	By:
    	/s/
    Brian McFadden
	 	Name:
    	Brian
    McFadden
	 	Title:
    	President
    and CEO
	 	 	 
	 	*Authorized Signatory
	 	Hudson Bay Capital Management LP
	 	not individually, but solely as
	 	Investment Advisor to Hudson Bay Master Fund LtdExhibit 10.6

 

WAIVER
BY HUDSON BAY MASTER FUND, LTD.,

TO
PERMIT THE CONTEMPLATED TRANSACTION

BETWEEN
CRYPTYDE, INC. AND FOREVER 8 FUND, LLC AND RELATED AMENDMENTS

 

SEPTEMBER
14, 2022

 

WHEREAS,
Cryptyde, Inc. (“Cryptyde”) and Hudson Bay Master Fund, Ltd. (the “Holder”) entered into that certain
securities purchase agreement (as amended, the “SPA”) dated as of January 26, 2022, pursuant to which Cryptyde issued
to the Holder a secured convertible note in the initial aggregate principal amount of $33,333,333 (as amended, the “Note”)
and warrants representing the right to acquire shares of Cryptyde’s common stock, $0.001 par value per share (as amended, the “Warrants”);
and

 

WHEREAS,
in connection with the SPA, Cryptyde and the Holder entered into that certain registration rights agreement dated January 26, 2022 (as
amended the “RRA”); and

 

WHEREAS,
Cryptyde and the Holder entered into that certain Amendment Agreement dated July 28, 2022 (as amended, the “Amendment Agreement”)
which, among other things, required Cryptyde to repurchase a portion of the Notes and amended the terms of the SPA, RRA, and Note; and

 

WHEREAS,
the SPA, the RRA, the Note, the Warrants and Amendment Agreement, each as amended, are referred to herein as the “Underlying
Agreements”; and

 

WHEREAS,
the SPA, Note and Amendment Agreement contain certain restrictions on the actions of Cryptyde (collectively, the “Restrictions”);
and

 

WHEREAS,
Cryptyde wishes to enter into a membership interest purchase agreement in the form of Exhibit A (the “MIPA”),
and in connection therewith, to enter into the Second Amended and Restated Operating Agreement of Forever 8 Fund, LLC in the form of
Exhibit B (the “Operating Agreement”) and note in the form of Exhibit C (the “Seller Note”),
the Holder wishes to waive the Restrictions to permit Cryptyde to enter into the MIPA, Operating Agreement, and Seller Note and as consideration
for such waiver, Cryptyde and the Holder representing the Required Holders (as defined in the Note) hereby agree to amend certain terms
of the Underlying Agreements as set forth herein.

 

NOW
THEREFORE, in consideration of the foregoing mutual premises and the covenants and agreements hereinafter set forth, and for other good
and valuable consideration, the receipt, and legal adequacy of which is hereby acknowledged, the parties hereto, intending to be legally
bound, hereby agree as follows:

 

1. WAIVER.
Upon the due execution and delivery of the Subordination Agreement in the form of Exhibit D, the Holder hereby waives the Restrictions
as they relate to the MIPA, Operating Agreement, Seller Note, and all transactions contemplated therein and, accordingly, permits Cryptyde
to enter into the MIPA, Operating Agreement and Seller Note, and all transactions contemplated therein.

 

    	 

     

    

 

2. NOTE
AMENDMENT. As of the date hereof, pursuant to Section 7(c) of the Note, the Conversion Price of the Note shall be voluntarily and
irrevocably adjusted to equal $1.00, subject to further adjustments as provided in the Note.

 

3. WARRANT
AMENDMENTS.

 

		a.	As
                                            of the date hereof, pursuant to Section 2(e) of the Warrants, the Exercise Price of the Warrants
                                            shall be voluntarily and irrevocably adjusted to equal $1.00, subject to further adjustments
                                            as provided in the Warrants.

 

		b.	Section
                                            2(c) of the Warrants is hereby amended and restated in its entirety as follows (strikethrough
                                            indicates deletion; bold underline indicates addition):

 

“Number
of Warrant Shares. Simultaneously with any adjustment to the Exercise Price pursuant to Section 2(a) or Section 2(b), the number
of Warrant Shares that may be purchased upon exercise of this Warrant shall be increased or decreased proportionately, so that after
such adjustment the aggregate Exercise Price payable hereunder for the adjusted number of Warrant Shares shall be the same as the aggregate
Exercise Price in effect immediately prior to such adjustment (without regard to any limitations on exercise contained herein);
provided that the number of Warrant Shares shall not be adjusted in connection with any adjustment to the Exercise Price pursuant to
Section 2(a) (x) before the date that all of the cash held in the Control Account is released to the Company (the “Release Date”)
or (y) after the 12-month anniversary of the Release Date; provided, further, that on the Release Date, the number of Warrant Shares
shall be adjusted with respect to any adjustment to the Exercise Price pursuant to Section 2(a) occurring prior to the Release Date.”

 

As
a result of the foregoing amendment to Section 2(c) of the Warrants, Cryptyde hereby acknowledges and agrees that Section 2(c) of the
Warrants applies to any adjustment to the Exercise Price, including to any adjustment to the Exercise Price prior to the date hereof.
Accordingly, the parties hereto hereby acknowledge and agree that, as of the date hereof, 33,333,330 shares of Common Stock (as adjusted
for any stock dividend, stock split, stock combination, reclassification or similar transaction with respect to the Common Stock occurring
after the date hereof) are issuable upon exercise of the Warrants (without regard to the Maximum Percentage (as defined in the Warrants)),
subject to further adjustments as provided in the Warrants.

 

    	 

     

    

 

4. RIGHT
OF PARTICIPATION. In addition, and not in substitution, of the participation right set forth in Section 4(o) of the SPA, beginning
upon the expiration of the participation right set forth in Section 4(o) of the SPA and ending on the second (2nd) anniversary
of the expiration of the participation right set forth in Section 4(o) of the SPA, neither Cryptyde nor any of its Subsidiaries shall,
directly or indirectly, effect any Subsequent Placement (as defined in the SPA) unless Cryptyde shall have first complied with this Section
4. 

 

(a) At
least three (3) Trading Days prior to any proposed or intended Subsequent Placement, Cryptyde shall deliver to the Holder a written notice
(each such notice, a “Pre-Notice”), which Pre-Notice shall not contain any information (including, without limitation,
material, non-public information) other than: (A) if the proposed Offer Notice (as defined below) constitutes or contains material, non-public
information, a statement asking whether the Holder is willing to accept material non-public information or (B) if the proposed Offer
Notice does not constitute or contain material, non-public information, (x) a statement that Cryptyde proposes or intends to effect a
Subsequent Placement, (y) a statement that the statement in clause (x) above does not constitute material, non-public information and
(z) a statement informing the Holder that it is entitled to receive an Offer Notice (as defined below) with respect to such Subsequent
Placement upon its written request. Upon the written request of the Holder within two (2) Trading Days (as defined in the Warrants) after
Cryptyde’s delivery to the Holder of such Pre-Notice, and only upon a written request by the Holder, Cryptyde shall promptly, but
no later than one (1) Trading Day after such request, deliver to the Holder an irrevocable written notice (the “Offer Notice”)
of any proposed or intended issuance or sale or exchange (the “Offer”) of the securities being offered (the “Offered
Securities”) in a Subsequent Placement, which Offer Notice shall (A) identify and describe the Offered Securities, (B) describe
the price and other terms upon which they are to be issued, sold or exchanged, and the number or amount of the Offered Securities to
be issued, sold or exchanged, (C) identify the Persons (as defined in the SPA) (if known) to which or with which the Offered Securities
are to be offered, issued, sold or exchanged and (D) offer to issue and sell to or exchange with the Holder in accordance with the terms
of the Offer the Holder’s 40% of the Offered Securities (the “Basic Amount”).

 

(b) To
accept an Offer, in whole or in part, the Holder must deliver a written notice to Cryptyde prior to the end of the second (2nd)
Business Day (as defined in the SPA) after the Holder’s receipt of the Offer Notice (the “Offer Period”), setting
forth the portion of the Holder’s Basic Amount that the Holder elects to purchase (the “Notice of Acceptance”).
Notwithstanding the foregoing, if Cryptyde desires to modify or amend the terms and conditions of the Offer prior to the expiration of
the Offer Period, Cryptyde may deliver to the Holder a new Offer Notice and the Offer Period shall expire on the second (2nd)
Business Day after the Holder’s receipt of such new Offer Notice.

 

(c) Cryptyde
shall have ten (10) Business Days from the expiration of the Offer Period above (A) to offer, issue, sell or exchange all or any part
of such Offered Securities as to which a Notice of Acceptance has not been given by the Holder (the “Refused Securities”)
pursuant to a definitive agreement(s) (the “Subsequent Placement Agreement”), but only to the offerees described in
the Offer Notice (if so described therein) and only upon terms and conditions (including, without limitation, unit prices and interest
rates) that are not more favorable to the acquiring Person or Persons or less favorable to Cryptyde than those set forth in the Offer
Notice and (B) to publicly announce (x) the execution of such Subsequent Placement Agreement, and (y) either (I) the consummation of
the transactions contemplated by such Subsequent Placement Agreement or (II) the termination of such Subsequent Placement Agreement,
which shall be filed with the SEC on a Current Report on Form 8-K with such Subsequent Placement Agreement and any documents contemplated
therein filed as exhibits thereto.

 

    	 

     

    

 

(d) In
the event Cryptyde shall propose to sell less than all the Refused Securities (any such sale to be in the manner and on the terms specified
in Section 4(c) above), then the Holder may, at its sole option and in its sole discretion, withdraw its Notice of Acceptance or reduce
the number or amount of the Offered Securities specified in its Notice of Acceptance to an amount that shall be not less than the number
or amount of the Offered Securities that the Holder elected to purchase pursuant to Section 4(b) above multiplied by a fraction, (i)
the numerator of which shall be the number or amount of Offered Securities Cryptyde actually proposes to issue, sell or exchange (including
Offered Securities to be issued or sold to the Holder pursuant to this Section 4 prior to such reduction) and (ii) the denominator of
which shall be the original amount of the Offered Securities. In the event that the Holder so elects to reduce the number or amount of
Offered Securities specified in its Notice of Acceptance, Cryptyde may not issue, sell or exchange more than the reduced number or amount
of the Offered Securities unless and until such securities have again been offered to the Buyers in accordance with Section 4(a) above.

 

(e)
Upon the closing of the issuance, sale or exchange of all or less than all of the Refused Securities, the Holder shall acquire from
Cryptyde, and Cryptyde shall issue to the Holder, the number or amount of Offered Securities specified in its Notice of Acceptance,
as reduced pursuant to Section 4(d) above if the Holder has so elected, upon the terms and conditions specified in the Offer. The
purchase by the Holder of any Offered Securities is subject in all cases to the preparation, execution and delivery by Cryptyde and
the Holder of a separate purchase agreement relating to such Offered Securities reasonably satisfactory in form and substance to the
Holder and its counsel.

 

(f) Any
Offered Securities not acquired by the Holder or other Persons in accordance with this Section 4 may not be issued, sold or exchanged
until they are again offered to the Holder under the procedures specified in this Agreement.

 

(g) Cryptyde
and the Holder agree that if the Holder elects to participate in the Offer, (x) neither the Subsequent Placement Agreement with respect
to such Offer nor any other transaction documents related thereto (collectively, the “Subsequent Placement Documents”)
shall include any term or provision whereby the Holder shall be required to agree to any restrictions on trading as to any securities
of Cryptyde or be required to consent to any amendment to or termination of, or grant any waiver, release or the like under or in connection
with, any agreement previously entered into with Cryptyde or any instrument received from Cryptyde, (y) shall include any representation,
warranty or covenant more adverse to the Holder than as set forth in the Underlying Agreements and (z) any registration rights set forth
in such Subsequent Placement Documents shall be similar in all material respects to the registration rights contained in the RRA.

 

    	 

     

    

 

(h) Notwithstanding
anything to the contrary in this Section 4 and unless otherwise agreed to by the Holder, Cryptyde shall either confirm in writing to
the Holder that the transaction with respect to the Subsequent Placement has been abandoned or shall publicly disclose its intention
to issue the Offered Securities, in either case, in such a manner such that the Holder will not be in possession of any material, non-public
information, by the fifth (5th) Business Day following delivery of the Offer Notice. If by such fifth (5th) Business
Day, no public disclosure regarding a transaction with respect to the Offered Securities has been made, and no notice regarding the abandonment
of such transaction has been received by the Holder, such transaction shall be deemed to have been abandoned and the Holder shall not
be in possession of any material, non-public information with respect to Cryptyde or any of its Subsidiaries. Should Cryptyde decide
to pursue such transaction with respect to the Offered Securities, Cryptyde shall provide the Holder with another Offer Notice and the
Holder will again have the right of participation set forth in this Section 4. Cryptyde shall not be permitted to deliver more than one
such Offer Notice to the Holder in any sixty (60) day period, except as expressly contemplated by the last sentence of Section 4(b).

 

(i) The
restrictions contained in this Section 4 shall not apply in connection with the issuance of any Excluded Securities (as defined in the
SPA).

 

(j) Notwithstanding
the foregoing, if any Offer to which this Section 4 applies is to be conducted or marketed on a “bought deal” or “overnight”
or “intraday” basis, then (i) the period for Cryptyde to deliver a Pre-Notice and Offer Notice shall be “as soon as
reasonably practicable and without undue delay” by Cryptyde acting reasonably and in good faith and (ii) the period for the Holder
to deliver a Notice of Acceptance under shall be “as soon as reasonably practicable and without undue delay and in no event more
than twenty four (24) hours after receipt of the Pre-Notice or Offer Notice, as applicable” by the Holder, in each case having
regard to the specific circumstances surrounding such Offer.

 

5. CONTROL
ACCOUNT. On the date hereof, Cryptyde shall be deemed to have released $1,000,000 of the Control Account and, immediately following
such deemed release, Cryptyde shall be deemed to have re-deposited by wire transfer of immediately available funds $1,000,000 of unrestricted
and unencumbered cash in the Control Account. Accordingly, the parties hereto hereby acknowledge and agree that clause (i) of the first
sentence of Section 4(o) of the SPA has been satisfied as of the date hereof.

 

6. FEES
AND EXPENSES. Cryptyde shall reimburse the Holder for its legal fees and expenses in connection with the preparation and negotiation
of any and all agreements by and between Cryptyde and the Holder on or prior to the date hereof, including, without limitation fees and
expenses in connection with the preparation and negotiation of this Agreement and transactions contemplated thereby, by paying any such
amount to Schulte Roth & Zabel LLP (the “Holder Counsel Expense”) within two (2) Business Days of receiving the
invoice of Schulte Roth & Zabel LLP by wire transfer of immediately available funds in accordance with the written instructions of
Schulte Roth & Zabel LLP delivered to Cryptyde on or prior to the date hereof. The Holder Counsel Expense shall be paid by Cryptyde
whether or not the transactions contemplated by this Agreement are consummated. Except as otherwise set forth above, each party shall
pay the fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party
incident to the negotiation, preparation, execution, delivery and performance of this Agreement or any other agreement between Cryptyde
and the Holder on or prior to the date hereof. Cryptyde shall pay all stamp and other taxes and duties levied in connection with the
transactions contemplated hereby, if any.

 

[Signature
Pages Follow]

 

    	 

     

    

 

IN
WITNESS WHEREOF, the Holder and Cryptyde have caused their respective signature pages to this Agreement to be duly executed as of
the date first written above.

 

	 	COMPANY:
	 	 
	 	CRYPTYDE,
    INC.
	 	 
	 	By:	/s/
    Brian McFadden

	 	Name:	Brian
    McFadden
	 	Title:
    	Chief
    Executive Officer

 

    	 

     

    

 

IN
WITNESS WHEREOF, the Holder and Cryptyde have caused their respective signature pages to this Agreement to be duly executed as of
the date first written above.

 

	 	HOLDER:
	 	 
	 	HUDSON BAY MASTER FUND LTD.
	 	 	 
	 	By:	/s/ Richard Allison
	 	Name:	Richard Allison
	 	Title: 	Authorized Signatory*
	 	 	*Authorized
    Signatory

    Hudson
    Bay Capital Management LP

    not
    individually, but solely as

    Investment
    Advisor to Hudson Bay Master Fund Ltd.

 

    	 

     

    

 

EXHIBIT
A

 

Membership
Interest Purchase Agreement

 

    	 

     

    

 

EXHIBIT
B

 

Second
Amended and Restated Operating Agreement of Forever 8 Fund, LLC

 

    	 

     

    

 

EXHIBIT
C

 

Seller
Note

 

    	 

     

    

 

EXHIBIT
D

 

Subordination
Agreement

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