Document:

Exhibit 10.1

 

THIS PROMISSORY NOTE (“NOTE”)
HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THIS NOTE HAS BEEN ACQUIRED
FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE THEREOF UNDER THE SECURITIES
ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE MAKER THAT SUCH REGISTRATION IS NOT REQUIRED.

 

PROMISSORY NOTE

 

June 17, 2021

 

Principal Amount: Up to $2,000,000.00

 

TCW Special Purpose Acquisition Corp., a Delaware
corporation and blank check company (the “Maker”), promises to pay to the order of TCW Asset Management Company LLC,
a Delaware limited liability company, or its registered assigns or successors in interest (the “Payee”), the principal
sum of up to two million dollars ($2,000,000.00) in lawful money of the United States of America, on the terms and conditions described
below. All payments on this Note shall be made by check or wire transfer of immediately available funds or as otherwise determined by
the Maker to such account as the Payee may from time to time designate by written notice in accordance with the provisions of this Note.

 

1. Principal. The principal
balance of this Note shall be payable by the Maker on the earlier of: (i) the date on which Maker consummates its initial business combination
(the “Business Combination”) or (ii) the date that the winding up of the Maker is effective (such date, the “Maturity
Date”). The principal balance may be prepaid at any time, at the election of Maker, without premium or penalty. Under no circumstances
shall any individual, including but not limited to any executive officer, director, employee or stockholder of the Maker, be obligated
personally for any obligations or liabilities of the Maker hereunder.

 

2. Interest. No interest
shall accrue on the unpaid principal balance of this Note.

 

3. Drawdown Requests.
Maker and Payee agree that Maker may request up to two million ($2,000,000.00) for costs reasonably related to Maker’s working capital
needs. The principal of this Note may be drawn down from time to time prior to the earlier of the Business Combination and the Maturity
Date, upon written request from Maker to Payee (each, a “Drawdown Request”). Each Drawdown Request must state the amount
to be drawn down, and must not be an amount less than ten thousand dollars ($10,000.00) unless agreed upon my Maker and Payee. Payee shall
fund each Drawdown Request no later than five (5) business days after receipt of a Drawdown Request; provided, however, that (i)
the maximum amount of drawdowns collectively under this note is two million dollars ($2,000,000.00) and (ii) any drawdowns in excess of
$930,000, collectively, shall require the written consent of the Payee. Once an amount is drawn down under this Note, it shall not be
available for future Drawdown Requests even if prepaid. No fees, payments or other amounts shall be due to Payee in connection with, or
as a result of, any Drawdown Request by Maker. Notwithstanding the foregoing, all payments shall be applied in accordance with Section
5 hereof.

 

     

     

    

 

4. Optional Conversion.

 

(a) Upon consummation of the
Business Combination and at the Payee’s option, the Payee may elect, by written notice to the Maker, to convert all or any portion
of the Note into that number of warrants (the “Conversion Warrants”) to purchase a number of shares of common stock,
par value $0.0001, of the Maker equal to: (i) the portion of the principal amount of the Note being converted pursuant to this Section
4, divided by (ii) $1.50. The Conversion Warrants shall be identical to the warrants issued by the Maker to TCW Special Purpose Sponsor
LLC, a Delaware limited liability company (the “Sponsor”), in a private placement upon the consummation of Maker’s
initial public offering (the “IPO”). The Conversion Warrants and their underlying securities, and any other equity
security of Maker issued or issuable with respect to the foregoing by way of a share dividend or share split or in connection with a combination
of shares, recapitalization, amalgamation, consolidation or reorganization, shall be entitled to registration rights on the same terms
as the registration rights set forth in that certain Registration Rights Agreement, dated as of March 1, 2021, by and among the Maker,
the Sponsor and the other parties thereto.

 

(b) Upon any complete or partial
conversion of the principal amount of this Note (i) such principal amount shall be so converted and such converted portion of this Note
shall become fully paid and satisfied, (ii) the Payee shall surrender and deliver this Note, duly endorsed, to Maker or such other address
which Maker shall designate against delivery of the Conversion Warrants, (iii) Maker shall promptly deliver a new duly executed Note
to the Payee in the principal amount that remains outstanding, if any, after any such conversion and (iv) in exchange for all or any portion
of the surrendered Note described in Section 4(a), Maker shall, at the direction of Payee, deliver to Payee (or its members or their respective
affiliates) (Payee or such other persons, the “Holders”) the Conversion Warrants, which shall bear such legends as
are required, in the opinion of counsel to Maker or by any other agreement between Maker and the Payee and applicable state and federal
securities laws.

 

(c) The Holders shall pay any
and all issue and other taxes that may be payable with respect to any issue or delivery of the Conversion Warrants upon conversion of
this Note pursuant hereto; provided, however, that the Payee shall pay any transfer taxes resulting from any transfer requested
by the Holders in connection with any such conversion.

 

(d) The Conversion Warrants
shall not be issued upon conversion of this Note unless such issuance and such conversion comply with all applicable provisions of law.

 

5. Application of Payments.
All payments shall be applied first to payment in full of any costs incurred in the collection of any sum due under this Note, including
(without limitation) reasonable and documented attorney’s fees, then to the payment in full of any late charges and finally to the
reduction of the unpaid principal balance of this Note.

 

6. Events of Default.
The following shall constitute an event of default (“Event of Default”):

 

(a) Failure to Make Required
Payments. Failure by Maker to pay the principal amount due pursuant to this Note within five (5) business days of the Maturity Date.

 

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(b) Voluntary Bankruptcy,
Etc. The commencement by Maker of a voluntary case under any applicable bankruptcy, insolvency, reorganization, rehabilitation or
other similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian,
sequestrator (or other similar official) of Maker or for any substantial part of its property, or the making by it of any assignment for
the benefit of creditors, or the failure of Maker generally to pay its debts as such debts become due, or the taking of corporate action
by Maker in furtherance of any of the foregoing.

 

(c) Involuntary Bankruptcy,
Etc. The entry of a decree or order for relief by a court having jurisdiction in the premises in respect of Maker in an involuntary
case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator, assignee, custodian, trustee,
sequestrator (or similar official) of Maker or for any substantial part of its property, or ordering the winding-up or liquidation of
its affairs, and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive days.

 

7. Remedies.

 

(a) Upon the occurrence of an
Event of Default specified in Section 6(a) hereof, Payee may, by written notice to Maker, declare this Note to be due immediately and
payable, whereupon the unpaid principal amount of this Note, and all other amounts payable hereunder, shall become immediately due and
payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, anything contained
herein or in the documents evidencing the same to the contrary notwithstanding.

 

(b) Upon the occurrence of an
Event of Default specified in Sections 6(b) and 6(c), the unpaid principal balance of this Note, and all other sums payable with regard
to this Note, shall automatically and immediately become due and payable, in all cases without any action on the part of Payee.

 

8. Waivers. Maker and
all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice of dishonor, protest, and notice
of protest with regard to the Note, all errors, defects and imperfections in any proceedings instituted by Payee under the terms of this
Note, and all benefits that might accrue to Maker by virtue of any present or future laws exempting any property, real or personal, or
any part of the proceeds arising from any sale of any such property, from attachment, levy or sale under execution, or providing for any
stay of execution, exemption from civil process, or extension of time for payment; and Maker agrees that any real estate that may
be levied upon pursuant to a judgment obtained by virtue hereof or any writ of execution issued hereon, may be sold upon any such writ
in whole or in part in any order desired by Payee.

 

9. Unconditional Liability.
Maker hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement of the payment of this
Note, and agrees that its liability shall be unconditional, without regard to the liability of any other party, and shall not be affected
in any manner by any indulgence, extension of time, renewal, waiver or modification granted or consented to by Payee, and consents to
any and all extensions of time, renewals, waivers, or modifications that may be granted by Payee with respect to the payment or other
provisions of this Note, and agrees that additional makers, endorsers, guarantors, or sureties may become parties hereto without notice
to Maker or affecting Maker’s liability hereunder.

 

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10. Notices. All notices,
statements or other documents which are required or contemplated by this Note shall be made in writing and delivered: (i) personally or
sent by first class registered or certified mail, overnight courier service or facsimile or electronic transmission to the address designated
in writing, (ii) by facsimile to the number most recently provided to such party or such other address or fax number as may be designated
in writing by such party or (iii) by electronic mail, to the electronic mail address most recently provided to such party or such other
electronic mail address as may be designated in writing by such party. Any notice or other communication so transmitted shall be deemed
to have been given on the day of delivery, if delivered personally, on the business day following receipt of written confirmation, if
sent by facsimile or electronic transmission, one (1) business day after delivery to an overnight courier service or five (5) days after
mailing if sent by mail.

 

11. Construction. THIS
NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS THEREOF.

 

12. Severability. Any
provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

13. Trust Waiver. Notwithstanding
anything herein to the contrary, the Payee hereby waives any and all right, title, interest or claim of any kind (“Claim”)
in or to any distribution of or from the trust account (the “Trust Account”) established in connection with Maker’s
IPO, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason
whatsoever; provided however that Maker, may, in its sole direction, repay the principal balance of this Note out of the proceeds released
to Maker from the Trust Account.

 

14. Amendment; Waiver.
Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent of the Maker and the Payee.

 

15. Assignment. No assignment
or transfer of this Note or any rights or obligations hereunder may be made by any party hereto (by operation of law or otherwise) without
the prior written consent of the other party hereto and any attempted assignment without the required consent shall be void; provided,
however, that the foregoing shall not apply to an affiliate of Payee who agrees to be bound to the terms of this Note.

 

[Signature page follows]

 

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IN WITNESS WHEREOF, Maker, intending to
be legally bound hereby, has caused this Note to be duly executed by the undersigned as of the day and year first above written.

 

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

 

 

 

[Signature Page to Working Capital Note]

 

     

     

    

 

	ACKNOWLEDGED AND AGREED:	 
	 	 
	TCW ASSET MANAGEMENT COMPANY LLC	 
	 	 	 
	By:	/s/ Richard Villa	 
	 	Name: Richard Villa	 
	 	Title: Chief Financial Officer	 

 

	By:	/s/ Kevin Finch	 
	 	Name: Kevin Finch	 
	 	Title: Senior Vice President	 

 

 

[Signature Page to Working Capital Note]

 

 

6Exhibit 10.2

 

June 17, 2021

TCW Special Purpose Acquisition Corp.

865 S. Figueroa St., Suite 1800

Los Angeles, CA 90017

 

	 	Re:	Director Appointment

 

Ladies and Gentlemen:

 

This letter (this “Letter
Agreement”) is being delivered to you in connection with my appointment to the board of directors of TCW Special Purpose
Acquisition Corp., a Delaware corporation (the “Company”). Reference is made to the Company’s initial
public offering (the “Public Offering”) of 46,393,299 of the Company’s units (including 1,393,299 units
that were purchased to cover over-allotments) (the “Units”), each
comprised of one share of the Company’s Class A common stock, par value $0.0001 per share (“Class A Common Stock”),
and one-third of one redeemable warrant. Each whole warrant (a “Warrant”) entitles the holder thereof to purchase
one share of Class A Common Stock at a price of $11.50 per share, subject to adjustment as described in the Prospectus (as defined below).
The Units were sold in the Public Offering pursuant to registration statements on Form S-1 and a prospectus (the “Prospectus”)
filed by the Company with the U.S. Securities and Exchange Commission (the “Commission”) and are listed on the
New York Stock Exchange. Certain capitalized terms used herein are defined in paragraph 11 hereof.

 

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

 

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

 

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

 

     

     

    

 

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

 

3. Notwithstanding the provisions
set forth in paragraphs 5(a) and 5(b), during the period commencing on the date hereof and ending 180 days after the date of the Underwriting
Agreement, the Insider shall not, without the prior written consent of Citigroup Global Markets Inc. and Barclays Capital Inc. (the “Underwriters”),
(i) sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree
to dispose of, directly or indirectly, or establish or increase a put equivalent position or liquidate or decrease a call equivalent position
within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
and the rules and regulations of the Commission promulgated thereunder, with respect to, any Units, shares of Common Stock (including,
but not limited to, Founder Shares), Warrants or any securities convertible into, or exercisable, or exchangeable for, shares of Common
Stock owned by the Insider, (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic
consequences of ownership of any Units, shares of Common Stock (including, but not limited to, Founder Shares), Warrants or any securities
convertible into, or exercisable, or exchangeable for, shares of Common Stock owned by the Insider, whether any such transaction is to
be settled by delivery of such securities, in cash or otherwise, or (iii) publicly announce any intention to effect any transaction specified
in clause (i) or (ii); provided, however, all of the foregoing does not apply to the forfeiture of any Founder Shares pursuant to their
terms or any transfer of Founder Shares to any current or future independent director of the company (as long as such current or future
independent director transferee is subject to this Letter Agreement or executes an agreement substantially identical to the terms of this
Letter Agreement, as applicable to directors and officers at the time of such transfer; and as long as, to the extent any Section 16 reporting
obligation is triggered as a result of such transfer, any related Section 16 filing includes a practical explanation as to the nature
of the transfer). The Insider acknowledges and agrees that, prior to the effective date of any release or waiver of the restrictions set
forth in this paragraph 3 or paragraph 5 below, the Company may announce the impending release or waiver by press release through a major
news service at least two business days before the effective date of the release or waiver. The provisions of this paragraph will not
apply if the release or waiver is effected solely to permit a transfer not for consideration and the transferee has agreed in writing
to be bound by the same terms described in this Letter Agreement to the extent and for the duration that such terms remain in effect at
the time of the transfer.

 

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

 

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

 

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

 

(c) Notwithstanding the provisions
set forth in paragraphs 5(a) and (b), Transfers of the Founder Shares, Private Placement Warrants and shares of Class A Common Stock issued
or issuable upon the exercise or conversion of the Private Placement Warrants or the Founder Shares that are held by the Insider or any
of the Insider’s permitted transferees (that have complied with this paragraph 7(c)), are permitted (a) to the Company’s officers
or directors, any affiliates or family members of any of the Company’s officers or directors, any members or partners of the Sponsor
or their affiliates (including members of TCW Special Purpose Sponsor LLC, a Delaware limited liability company (the “Sponsor”)),
any affiliates of the Sponsor, or any employees of such affiliates; (b) in the case of an individual, by gift to a member of such person’s
immediate family or to a trust, the beneficiary of which is a member of such person’s immediate family, an affiliate of such person
or to a charitable organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon death of such person;
(d) in the case of an individual, pursuant to a qualified domestic relations order; (e) by private sales or transfers made in connection
with the consummation of an initial Business Combination at prices no greater than the price at which the securities were originally purchased;
(f) by virtue of the laws of the State of Delaware or the Sponsor’s organizational documents upon liquidation or dissolution of
the Sponsor; (g) to the Company for no value for cancellation in connection with the consummation of an initial Business Combination;
(h) in the event of the Company’s liquidation prior to its consummation of an initial Business Combination; or (i) in the event
of the Company’s completion of a liquidation, merger, capital stock exchange or other similar transaction which results in all of
the Company’s stockholders having the right to exchange their shares of Class A Common Stock for cash, securities or other property
subsequent to the Company’s completion of an initial Business Combination; provided, however, that in the case of
clauses (a) through (f), these permitted transferees must enter into a written agreement with the Company agreeing to be bound by the
transfer restrictions herein and the other restrictions contained in this Agreement (including provisions relating to voting, the Trust
Account and liquidating distributions).

 

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

 

7. Except as disclosed in
the Prospectus, the Insider shall not receive from the Company any finder’s fee, reimbursement, consulting fee, non-cash payments,
monies in respect of any repayment of a loan or other compensation prior to, or in connection with any services rendered in order to effectuate,
the consummation of the Company’s initial Business Combination (regardless of the type of transaction that it is), other than the
following, none of which will be made from the proceeds held in the Trust Account prior to the completion of the initial Business Combination:
reimbursement for any out-of-pocket expenses related to identifying, investigating, negotiating and completing an initial Business Combination;
and repayment of loans, if any, and on such terms as to be determined by the Company from time to time, made by the Insider or an affiliate
of the Insider to finance transaction costs in connection with an intended initial Business Combination, provided, that, if the Company
does not consummate an initial Business Combination, a portion of the working capital held outside the Trust Account may be used by the
Company to repay such loaned amounts so long as no proceeds from the Trust Account are used for such repayment. Up to $2,000,000 of such
loans may be convertible into warrants of the post Business Combination entity at a price of $1.50 per warrant at the option of the lender.
Such warrants would be identical to the Private Placement Warrants, including as to exercise price, exercisability and exercise period.

 

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

 

9. As used herein, (i) “Business
Combination” shall mean a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business
combination, involving the Company and one or more businesses; (ii) “Common Stock” shall mean the Class A Common
Stock and Class B common stock, par value $0.0001 per share, of the Company (“Class B Common Stock”); (iii)
“Founder Shares” shall mean the shares of Class B Common Stock issued and outstanding; (iv) “Private
Placement Warrants” shall mean the 7,519,107 warrants that the Sponsor has purchased for an aggregate purchase price of
$11,278,661, or $1.50 per warrant, in a private placement that occurred simultaneously with the consummation of the Public Offering (with
respect to 7,333,333 warrants) and the closing of the Underwriters’ partial exercise of their over-allotment option (with respect
to 185,774 warrants); (v) “Public Stockholders” shall mean the holders of securities issued in the Public Offering;
(vi) “Trust Account” shall mean the trust fund into which a portion of the net proceeds of the Public Offering
and the sale of the Private Placement Warrants were deposited; and (vii) “Transfer” shall mean the (a) sale
of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase or otherwise dispose of or agreement
to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation with respect to or decrease
of a call equivalent position within the meaning of Section 16 of the Exchange Act, and the rules and regulations of the Commission promulgated
thereunder with respect to, any security, (b) entry into any swap or other arrangement that transfers to another, in whole or in part,
any of the economic consequences of ownership of any security, whether any such transaction is to be settled by delivery of such securities,
in cash or otherwise, or (c) public announcement of any intention to effect any transaction specified in clause (a) or (b).

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

[Signature Page Follows]

    5

     

    

 

	 	Sincerely,
	 	 
	 	/s/ David Rye
	 	Name:	David Rye

 

	Acknowledged and Agreed:	 
	 	 
	TCW SPECIAL PURPOSE ACQUISITION CORP.	 
	 	 
	By: 	/s/ Joseph R. Shaposhnik	 
	 	
    Name:

    Title:
	
    Joseph R. Shaposhnik

    Chief Executive Officer
	 

 

 

 

[SIGNATURE
pAGE TO lETTER aGREEMENT]

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