Document:

Exhibit
10.11

 

NEITHER
THIS SECURITY NOR THE SECURITIES FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION
OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE
OF THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

COMMON
STOCK PURCHASE WARRANT

 

SONDORS
iNC.

 

	Warrant Shares: _____	Initial Exercise Date: __________

 

THIS
COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received, Falcon Capital Partners Limited
or its assigns (the “Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions
hereinafter set forth, at any time on or after the initial exercise date set forth above (the “Initial Exercise Date”)
1 and on or prior to 5:00 p.m. (New York City time) on the fifth (5th) anniversary of the date of this Warrant
(the “Termination Date”) but not thereafter, to subscribe for and purchase from SONDORS Inc., a Delaware corporation
(the “Company”), up to _____ shares (as subject to adjustment hereunder, the “Warrant Shares”)2
of Common Stock; provided, however, that in the event the Company fails to close its Proposed IPO by April 30, 2023,
this Warrant shall terminate and shall be of no further force or effect. The purchase price of one share of Common Stock under this Warrant
shall be equal to the Exercise Price, as defined in Section 2(b).

 

Section
1. Definitions. Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that certain Securities
Purchase Agreement by and among the Company and the purchasers signatory thereto (the “Purchase Agreement”).

 

 

1 
NTD: The Initial Exercise Date shall be the six (6) month anniversary of the closing of the Company’s Proposed IPO.

2
NTD: The number of Warrant Shares shall be calculated by multiplying the principal amount of the Notes purchased by all purchasers
pursuant to the Purchase Agreement (i.e., $3,500,000) by 0.50 and dividing the resultant amount by the Exercise Price.

 

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Section
2. Exercise.

 

(a)
Exercise of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time
or times on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company of a duly executed facsimile
copy or .pdf copy submitted by e-mail (or e-mail attachment) of the Notice of Exercise in the form annexed hereto (the “Notice
of Exercise”). Within the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement
Period (as defined in Section 2(d)(i) herein) following the date of exercise as aforesaid, the Holder shall deliver the aggregate
Exercise Price for the shares specified in the applicable Notice of Exercise by wire transfer or cashier’s check drawn on a United
States bank. No ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization)
of any Notice of Exercise be required. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically
surrender this Warrant to the Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant has
been exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation within three (3) Trading
Days of the date on which the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases
of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant
Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Holder and the Company shall
maintain records showing the number of Warrant Shares purchased and the date of such purchases. The Company shall deliver any objection
to any Notice of Exercise within one (1) Business Day of receipt of such notice. The Holder and any assignee, by acceptance of this
Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant
Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated
on the face hereof.

 

(b)
Exercise Price. The exercise price per share of Common Stock under this Warrant shall be $___3, subject to
adjustment hereunder (the “Exercise Price”).

 

 

3
NTD: The Exercise Price shall be equal to 120% of the offering price per share of Common Stock in the Proposed IPO.

 

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(c)
Mechanics of Exercise.

 

(i)
Delivery of Warrant Shares Upon Exercise. The Company shall cause the Warrant Shares purchased hereunder to be transmitted by
the Company’s transfer agent (the “Transfer Agent”) to the Holder by crediting the account of the Holder’s
or its designee’s balance account with The Depository Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”)
if the Company is then a participant in such system and either (A) there is an effective registration statement permitting the issuance
of the Warrant Shares to or resale of the Warrant Shares by the Holder or (B) the Warrant Shares are eligible for resale by the Holder
without volume or manner-of-sale limitations pursuant to Rule 144, and otherwise by physical delivery of a certificate, registered in
the Company’s share register in the name of the Holder or its designee, for the number of Warrant Shares to which the Holder is
entitled pursuant to such exercise to the address specified by the Holder in the Notice of Exercise by the date that is the earliest
of (i) two (2) Trading Days after the delivery to the Company of the Notice of Exercise, (ii) one (1) Trading Day after delivery of the
aggregate Exercise Price to the Company and (iii) the number of Trading Days comprising the Standard Settlement Period after the delivery
to the Company of the Notice of Exercise (such date, the “Warrant Share Delivery Date”). Upon delivery of the Notice
of Exercise, the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares with respect
to which this Warrant has been exercised, irrespective of the date of delivery of the Warrant Shares, provided that payment of the aggregate
Exercise Price is received within the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard
Settlement Period following delivery of the Notice of Exercise. If the Company fails for any reason to deliver to the Holder the Warrant
Shares subject to a Notice of Exercise by the Warrant Share Delivery Date, the Company shall pay to the Holder, in cash, as liquidated
damages and not as a penalty, for each $1,000 of Warrant Shares subject to such exercise (based on the VWAP of the Common Stock on the
date of the applicable Notice of Exercise), $10 per Trading Day (increasing to $20 per Trading Day on the fifth Trading Day after such
liquidated damages begin to accrue) for each Trading Day after such Warrant Share Delivery Date until such Warrant Shares are delivered
or Holder rescinds such exercise. The Company agrees to maintain a transfer agent that is a participant in the FAST program so long as
this Warrant remains outstanding and exercisable. As used herein, “Standard Settlement Period” means the standard
settlement period, expressed in a number of Trading Days, on the Company’s primary Trading Market with respect to the Common Stock
as in effect on the date of delivery of the Notice of Exercise.

 

(ii)
Delivery of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request of
a Holder and upon surrender of this Warrant certificate, at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant
evidencing the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in
all other respects be identical with this Warrant.

 

(iii)
Rescission Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant to Section
2(d)(i) by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

 

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(iv)
Compensation for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise. In addition to any other rights available to
the Holder, if the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares in accordance with the provisions
of Section 2(d)(i) above pursuant to an exercise on or before the Warrant Share Delivery Date, and if after such date the Holder
is required by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise purchases,
shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving
upon such exercise (a “Buy-In”), then the Company shall (A) pay in cash to the Holder the amount, if any, by which
(x) the Holder’s total purchase price (including brokerage commissions, if any) for the shares of Common Stock so purchased exceeds
(y) the amount obtained by multiplying (1) the number of Warrant Shares that the Company was required to deliver to the Holder in connection
with the exercise at issue times (2) the price at which the sell order giving rise to such purchase obligation was executed, and (B)
at the option of the Holder, either reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise
was not honored (in which case such exercise shall be deemed rescinded) or deliver to the Holder the number of shares of Common Stock
that would have been issued had the Company timely complied with its exercise and delivery obligations hereunder. For example, if the
Holder purchases Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares
of Common Stock with an aggregate sale price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately
preceding sentence the Company shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating
the amounts payable to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing
herein shall limit a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without
limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver shares
of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof.

 

(v)
No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the Company
shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied
by the Exercise Price or round up to the next whole share.

 

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(vi)
Charges, Taxes and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer tax
or other incidental expense in respect of the issuance of such Warrant Shares, all of which taxes and expenses shall be paid by the Company,
and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided,
however, that, in the event that Warrant Shares are to be issued in a name other than the name of the Holder, this Warrant when
surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder and the Company may
require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto. The Company
shall pay all Transfer Agent fees required for same-day processing of any Notice of Exercise and all fees to the Depository Trust Company
(or another established clearing corporation performing similar functions) required for same-day electronic delivery of the Warrant Shares.

 

(vii)
Closing of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise
of this Warrant, pursuant to the terms hereof.

 

Section
3. Certain Adjustments.

 

(a)
Stock Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise
makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable in shares
of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon exercise of this
Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including by way of reverse
stock split) outstanding shares of Common Stock into a smaller number of shares, or (iv) issues by reclassification of shares of the
Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied by a fraction of which
the numerator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding immediately before such event
and of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event, and the number of
shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the aggregate Exercise Price of this Warrant
shall remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become effective immediately after the record
date for the determination of stockholders entitled to receive such dividend or distribution and shall become effective immediately after
the effective date in the case of a subdivision, combination or re-classification.

 

(b)
Subsequent Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company
grants, issues or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to
the record holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled
to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if
the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations
on exercise hereof) immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or,
if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue
or sale of such Purchase Rights.

 

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(c)
Pro Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or
other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital
or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by way of a dividend,
spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”),
at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution
to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common Stock acquirable
upon complete exercise of this Warrant (without regard to any limitations on exercise hereof) immediately before the date of which a
record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares of Common Stock
are to be determined for the participation in such Distribution.

 

(d)
Fundamental Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or
more related transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company (or any Subsidiary),
directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially
all of its assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange
offer (whether by the Company or another Person) is completed pursuant to which holders of Common Stock are permitted to sell, tender
or exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding
Common Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization
or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted
into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related transactions
consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization,
spin-off, merger or scheme of arrangement) with another Person or group of Persons whereby such other Person or group acquires more than
50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the other Person or other Persons making
or party to, or associated or affiliated with the other Persons making or party to, such stock or share purchase agreement or other business
combination) (each a “Fundamental Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall
have the right to receive, for each Warrant Share that would have been issuable upon such exercise immediately prior to the occurrence
of such Fundamental Transaction, at the option of the Holder, the number of shares of Common Stock of the successor or acquiring corporation
or of the Company, if it is the surviving corporation, and any additional consideration (the “Alternate Consideration”)
receivable as a result of such Fundamental Transaction by a holder of the number of shares of Common Stock for which this Warrant is
exercisable immediately prior to such Fundamental Transaction. For purposes of any such exercise, the determination of the Exercise Price
shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect
of one share of Common Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate
Consideration in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders
of Common Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder
shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental
Transaction.

 

(e)
Calculations. All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the
case may be. For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a
given date shall be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

 

(f)
Notice to Holder.

 

(i)
Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the
Company shall promptly deliver to the Holder by facsimile or email a notice setting forth the Exercise Price after such adjustment and
any resulting adjustment to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

 

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(ii)
Notice to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on
the Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the
Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares of
capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection with
any reclassification of the Common Stock, any consolidation or merger to which the Company (or any of its Subsidiaries) is a party, any
sale or transfer of all or substantially all of its assets, or any compulsory share exchange whereby the Common Stock is converted into
other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding
up of the affairs of the Company, then, in each case, the Company shall cause to be delivered by facsimile or email to the Holder at
its last facsimile number or email address as it shall appear upon the Warrant Register of the Company, at least 20 calendar days prior
to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for
the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the
holders of the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined
or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective
or close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange their shares
of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer
or share exchange; provided that the failure to deliver such notice or any defect therein or in the delivery thereof shall not affect
the validity of the corporate action required to be specified in such notice. To the extent that any notice provided in this Warrant
constitutes, or contains, material, non-public information regarding the Company or any of the Subsidiaries, the Company shall simultaneously
file such notice with the OTC Markets. The Holder shall remain entitled to exercise this Warrant during the period commencing on the
date of such notice to the effective date of the event triggering such notice except as may otherwise be expressly set forth herein.

 

(g)
Voluntary Adjustment By Company. Subject to the rules and regulations of the Trading Market, the Company may at any time during
the term of this Warrant, subject to the prior written consent of the Holder, reduce the then current Exercise Price to any amount and
for any period of time deemed appropriate by the board of directors of the Company.

 

Section
4. Transfer of Warrant.

 

(a)
Transferability. Subject to compliance with any applicable securities laws and the conditions set forth in Section 4(d)
hereof and to the provisions of the Purchase Agreement, this Warrant and all rights hereunder (including, without limitation, any registration
rights) are transferable, in whole or in part, upon surrender of this Warrant at the principal office of the Company or its designated
agent, together with a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder or its
agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such surrender and, if
required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as
applicable, and in the denomination or denominations specified in such instrument of assignment, and shall issue to the assignor a new
Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled. Notwithstanding anything
herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company unless the Holder has assigned
this Warrant in full, in which case, the Holder shall surrender this Warrant to the Company within three (3) Trading Days of the date
on which the Holder delivers an assignment form to the Company assigning this Warrant in full. The Warrant, if properly assigned in accordance
herewith, may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued.

 

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(b)
New Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of
the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by
the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved in such
division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be
divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the Initial Exercise
Date and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

 

(c)
Warrant Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the
“Warrant Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat the
registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder,
and for all other purposes, absent actual notice to the contrary.

 

(d)
Transfer Restrictions. If, at the time of the surrender of this Warrant in connection with any transfer of this Warrant, the transfer
of this Warrant shall not be either (i) registered pursuant to an effective registration statement under the Securities Act and under
applicable state securities or blue sky laws or (ii) eligible for resale without volume or manner-of-sale restrictions or current public
information requirements pursuant to Rule 144, the Company may require, as a condition of allowing such transfer, that the Holder or
transferee of this Warrant, as the case may be, comply with certain transfer restrictions.

 

(e)
Representation by the Holder. The Holder, by the acceptance hereof, represents and warrants that it is acquiring this Warrant
and, upon any exercise hereof, will acquire the Warrant Shares issuable upon such exercise, for its own account and not with a view to
or for distributing or reselling such Warrant Shares or any part thereof in violation of the Securities Act or any applicable state securities
law, except pursuant to sales registered or exempted under the Securities Act.

 

Section
5. Miscellaneous.

 

(a)
No Rights as Stockholder Until Exercise; No Settlement in Cash. This Warrant does not entitle the Holder to any voting rights,
dividends or other rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(c)(i), except as expressly
set forth in Section 3. Without limiting any rights of a Holder to receive Cash payments pursuant to Section 2(c)(i) and
Section 2(c)(iv) herein, in no event shall the Company be required to net cash settle an exercise of this Warrant.

 

(b)
Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant Shares,
and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant,
shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the
Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant
or stock certificate.

 

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(c)
Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required
or granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next succeeding Business
Day.

 

(d)
Authorized Shares.

 

The
Company covenants that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a
sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant.
The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged with
the duty of issuing the necessary Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company will take all
such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein without violation of any
applicable law or regulation, or of any requirements of the Trading Market upon which the Common Stock may be listed. The Company covenants
that all Warrant Shares which may be issued upon the exercise of the purchase rights represented by this Warrant will, upon exercise
of the purchase rights represented by this Warrant and payment for such Warrant Shares in accordance herewith, be duly authorized, validly
issued, fully paid and nonassessable and free from all taxes, liens and charges created by the Company in respect of the issue thereof
(other than taxes in respect of any transfer occurring contemporaneously with such issue).

 

Except
and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending
its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale
of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant,
but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary
or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting the generality of the
foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable therefor upon such exercise
immediately prior to such increase in par value, (ii) take all such action as may be necessary or appropriate in order that the Company
may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and (iii) use commercially
reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof,
as may be, necessary to enable the Company to perform its obligations under this Warrant.

 

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Before
taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the
Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from
any public regulatory body or bodies having jurisdiction thereof.

 

(e)
Jurisdiction. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be determined
in accordance with the provisions of the Purchase Agreement.

 

(f)
Restrictions. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, will
have restrictions upon resale imposed by state and federal securities laws.

 

(g)
Nonwaiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall
operate as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies. Without limiting any other provision
of this Warrant or the Purchase Agreement, if the Company willfully and knowingly fails to comply with any provision of this Warrant,
which results in any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover
any costs and expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred
by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

 

(h)
Notices. Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall
be delivered in accordance with the notice provisions of the Purchase Agreement.

 

(i)
Limitation of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant
to purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of
the Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company
or by creditors of the Company.

 

(j)
Remedies. The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will
be entitled to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate
compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to
assert the defense in any action for specific performance that a remedy at law would be adequate.

 

(k)
Successors and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall
inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns
of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and shall
be enforceable by the Holder or holder of Warrant Shares.

 

(l)
Amendment. This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and
the Holder.

 

(m)
Severability. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid
under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall
be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining
provisions of this Warrant.

 

(n)
Headings. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed
a part of this Warrant.

 

********************

 

(Signature
Page Follows)

 

    	10

    	 

    

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized effective as of September
1, 2022.

 

	 	SONDORS
    INC.
	 	 	 
	 	By:
    	/s/
    Storm Sondors
	 	Name:
    	Storm
    Sondors
	 	Title:
    	President
    and CEO

 

    	11

    	 

    

 

NOTICE
OF EXERCISE

 

	To:	SONDORS INC.

 

(1)
The undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant (only
if exercised in full), and tenders herewith cash payment of the exercise price in full, together with all applicable transfer taxes,
if any. Payment shall take the form of lawful money of the United States.

 

(2)
Please issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

_______________________________

 

(3)
The Warrant Shares shall be delivered to the following DWAC Account Number:

 

_______________________________

 

_______________________________

 

_______________________________

 

(4)
Accredited Investor. The undersigned is either (i) an “accredited investor” as defined in Regulation D promulgated
under the Securities Act of 1933, as amended, or (ii) not a “U.S. Person” as such term is defined in Regulation S promulgated
under the Securities Act of 1933, as amended.

 

[SIGNATURE
OF HOLDER]

 

Name
of Investing Entity: ________________________________________________________________________

Signature
of Authorized Signatory of Investing Entity: _________________________________________________

Name
of Authorized Signatory: ___________________________________________________________________

Title
of Authorized Signatory: ____________________________________________________________________

Date:
________________________________________________________________________________________

 

    	 

    	 

    

 

ASSIGNMENT
FORM

 

(To
assign the foregoing Warrant, execute this form and supply required information. Do not use this form to purchase shares.)

 

FOR
VALUE RECEIVED, the foregoing Warrant and all rights evidenced thereby are hereby assigned to

 

	Name:
	 	exercise___________________

	 	 	(Please
    Print)
	 	 	 
	Address:	 	____________________________________
	 	 	(Please
                                            Print)
	 	 	 
	Phone
    Number:	 	_______________________________________
	 	 	 
	Email
    Address:	 	__________________________________________
	 	 	 
	Dated:
    _______________ __, ______	 	 
	 	 	 
	Holder’s
Signature:______________________________	 	 
	 	 	 
	Holder’s
    Address:_______________________________Exhibit 10.12

 

NEITHER
THESE SECURITIES NOR THE SECURITIES ISSUABLE UPON THE EXERCISE OR CONVERSION OF THESE SECURITIES HAVE BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS. THE SECURITIES REPRESENTED HEREBY MAY
NOT BE EXERCISED, CONVERTED, OFFERED, SOLD, TRANSFERRED, PLEDGED, HYPOTHECATED OR OTHERWISE ASSIGNED (EACH A “TRANSFER”)
EXCEPT (A) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN
A TRANSFER NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND (B) TO THE EXTENT THE TRANSFER DOES NOT CONSTITUTE
AND WILL NOT RESULT IN A VIOLATION OF APPLICABLE FEDERAL OR STATE SECURITIES LAWS, AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE
TRANSFEROR TO SUCH EFFECT (TO THE EXTENT REQUESTED BY COUNSEL OF THE COMPANY), THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE
TO THE COMPANY. THE HOLDER HEREOF AGREES THAT IT WILL DELIVER, OR CAUSE TO BE DELIVERED, TO EACH PERSON TO WHOM THE SECURITIES HEREBY
REPRESENTED ARE TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. THESE SECURITIES AND THE SECURITIES ISSUABLE UPON EXERCISE
OR CONVERSION OF THESE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT SECURED BY SUCH SECURITIES.

 

10%
SENIOR SECURED ORIGINAL ISSUE DISCOUNT CONVERTIBLE NOTE

 

	Note No. ___ 

                                  $_________
	Original Issue Date: ________, 2022
 Malibu, California

 

FOR
VALUE RECEIVED, SONDORS Inc., a Delaware corporation (“Company”), promises to pay to [_______________] (“Holder”),
or its registered assigns, the principal sum of [__________________] THOUSAND DOLLARS ($______), or such lesser amount as shall equal
the outstanding principal amount hereof, together with interest from the date of this 10% Senior Secured Original Issue Discount Convertible
Note (this “Note”) on the unpaid principal balance at a rate equal to 10% per annum, computed on the basis of the
actual number of days elapsed and a year of three hundred sixty-five (365) days. Subject to Section 3, all unpaid principal, together
with any then unpaid and accrued interest and other amounts payable hereunder, shall be due and payable on the Note Maturity Date (as
defined below). Subject to Section 4, any unpaid principal and accrued and unpaid interest on the Note Maturity Date shall be
payable in cash. Upon conversion of this Note in full or the payment in full of all principal and interest payable hereunder, this Note
shall be surrendered to the Company for cancellation. Upon conversion of this Note in full or the payment of outstanding amounts specified
in this Note, the Company shall be released from all its obligations and liabilities under this Note.

 

This
Note is being issued pursuant to the terms and conditions contained in that certain Securities Purchase Agreement between the original
Holder and the Company (the “Securities Purchase Agreement”). This Note, together with the similar 10% Senior Secured
Original Issue Discount Convertible Notes issued pursuant to the Securities Purchase Agreement, are collectively referred to herein as
the “Notes.”

 

    	 

     

    

 

This
Note is secured by a security interest in all of the assets of the Company, pursuant to the terms of a Security Agreement by and between
the Company, the Holder and the Agent (as defined therein).

 

The
following is a statement of the rights of the Holder and the conditions to which this Note is subject, and to which the Holder, by the
acceptance of this Note, agrees:

 

1. Certain
Definitions. For purposes of this Note, the following terms shall have the following respective meanings:

 

(a) “Common
Stock” means shares of the common stock, $0.0001 par value per share, of the Company.

 

(b) “Common
Stock Equivalents” shall mean Options and Convertible Securities.

 

(c) “Conversion
Shares” means the shares of Common Stock issuable upon conversion of this Note.

 

(d) “Convertible
Securities” shall mean any stock or securities (other than Options) convertible into or exchangeable for Common Stock.

 

(e) “Event
of Default” means any of the events specified as such in Section 3.1.

 

(f) “Holder”
means the person or entity specified in the introductory paragraph of this Note or any transferee that is at the time the registered
holder of this Note. The Holder or any transferee is an “accredited investor” as defined under U.S. federal securities laws,
or is not a “U.S. Person” as such term is defined in Regulation S promulgated under the Securities Act or otherwise will
qualify to allow this offering to take place as a private placement under applicable securities laws.

 

(g) “Note
Maturity Date” shall mean the earlier of (i) April 30, 2023, (ii) the closing of the Company’s Proposed IPO, and (iii)
the date as of which the outstanding principal and accrued interest on this Note and all other payments payable hereunder are due and
payable to the Holder pursuant to Section 3.2.

 

(h) “Options”
shall mean any outstanding rights, warrants or options to subscribe for or purchase Common Stock or Convertible Securities.

 

(i) “Proposed
IPO” means the Company’s proposed initial public offering of shares of Common Stock.

 

Other
capitalized terms not defined in this Note have the same meaning as in the Securities Purchase Agreement.

 

    	-2-

     

    

 

2. Interest.

 

2.1 Amount
and Payment. Until the Note Maturity Date, this Note will bear interest at a rate of 10% per annum, computed on the basis of the
actual number of days elapsed and a year of three hundred sixty-five (365) days. After the Note Maturity Date and until the outstanding
principal and accrued interest on this has been paid, this Note will bear interest at a rate of 18% per annum, computed on the basis
of the actual number of days elapsed and a year month of thirty (30) days. Accrued interest on this Note shall be due and payable on
the Note Maturity Date, whether by acceleration, scheduled maturity or otherwise. Subject to Section 4, any accrued interest on
this Note shall be payable in cash.

 

2.2 Original
Issue Discount. The parties hereto acknowledge that the Note will be issued with “original issue discount” (“OID”)
for U.S. federal income tax purposes, and hereby agree (i) that the Note is described in Treasury Regulations Section 1.1272-1(c)(2)
and therefore is governed by the rules set out in Treasury Regulations Section 1.1272-1(c), including Treasury Regulations Section 1.1272-1(c)(5),
and is not governed by the rules set out in Treasury Regulations Section 1.1275-4, (ii) that the Company shall determine the amount of
OID on the Note, subject to the review and written approval of the Holder, and (iii) to adhere to this Section 2.2 for U.S. federal
income tax purposes and not to take any action or file any tax return, report or declaration inconsistent herewith (including with respect
to the amount of OID on the Note as determined and approved of in accordance with clause (ii) above).

 

3. Default.

 

3.1 Events
of Default. If any of the following events (each, an “Event of Default” and collectively, “Events of
Default”) shall occur:

 

(a) the
Company shall default in the payment of any part of the principal or interest of this Note on the Note Maturity Date;

 

(b) the
Company shall breach or default in the performance of any covenant or warranty of the Company in this Note, and continuance of such breach
for a period of thirty (30) days after there has been given, by registered or certified mail, to the Company by the Holder or the Agent,
a written notice specifying such breach or default and requiring it to be remedied;

 

(c) a
court having jurisdiction in the premises shall enter a decree or order for relief in respect of the Company in an involuntary case under
any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee,
custodian, trustee, sequestrator (or similar official) of the Company or for any substantial part of its property, or ordering the winding-up
or liquidation of its affairs, and such decree or order shall remain unstayed and in effect for a period of sixty (60) consecutive days;
or

 

    	-3-

     

    

 

(d) the
Company shall commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect,
shall consent to the entry of an order for relief in an involuntary case under any such law, or shall consent to the appointment of or
taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator (or other similar official) of the Company or
for any substantial part of its property, or shall make any general assignment for the benefit of creditors, or shall take any corporate
action in furtherance of any of the foregoing;

 

then
and in any such event the Holder of this Note may at any time (unless all defaults theretofore or thereupon shall have been remedied)
at its option, by written notice to the Company, declare this Note to be due and payable, whereupon the same shall forthwith mature and
become due and payable without presentment, demand, protest or other notice, all of which are hereby waived.

 

3.2 Remedies
on and Notices of Default. In case any one or more Events of Default shall occur, the Holder or Agent may proceed to protect and
enforce the rights of the Holder by a suit in equity, action at law or other appropriate proceeding, whether for the specific performance
of any agreement contained in this Note, or for an injunction against a violation of any of the terms or provisions hereof or thereof,
or in aid of the exercise of any power granted hereby or thereby or by law. Subject to Section 14, commencing immediately after
an Event of Default (i) the interest on this Note shall accrue at an interest rate equal to 18% per annum, (ii) the principal amount
of this Note shall be increased to an amount equal to 120% of the principal amount set forth on the cover page of this Note, and (iii)
until such time as the Event of Default is cured or this Note is paid in full, the Company shall make monthly principal payments on a
pro rata basis to the Holders in an aggregate amount equal to 10% of the Company’s top line revenues for the prior month. In case
of default under this Note, the Company will pay to the Holder such further amount as shall be sufficient to cover the reasonable cost
and expense of enforcement, including, without limitation, reasonable attorneys’ fees. If the Holder shall give any notice or take
any other action in respect of a claimed default, the Company shall forthwith give written notice thereof to all other holders of Notes
at the time outstanding, describing the notice or action and the nature of the claimed default. No course of dealing and no delay on
the part of any Holder of this Note in exercising any right shall operate as a waiver thereof or otherwise prejudice such Holder’s
rights or the rights of the holder of any similarly subordinated Notes. No remedy conferred by this Note upon the Holder shall be exclusive
of any other remedy referred to herein or now or hereafter available at law, in equity, by statute or otherwise.

 

4. Conversion.

 

4.1 Voluntary
Conversion. The Holder may, concurrently with the closing the Proposed IPO, elect to convert all of the outstanding principal amount
of this Note and, at the option of the Holder, together with the amount of accrued and unpaid interest, into shares of Common Stock at
the Conversion Price (as defined below). In the event the Company does not close the Proposed IPO on or before April 30, 2023, this Note
shall not be convertible into shares of the Company’s Common Stock and shall be payable only in cash.

 

    	-4-

     

    

 

4.2 Conversion
Procedure.

 

(a) Any
voluntary conversion of this Note shall be effected by the surrender of this Note at the principal office of the Company on the closing
date of the Proposed IPO, together with a written notice by the Holder stating that the Holder desires to convert the entire, or a specified
increment of, principal and accrued and unpaid interest of this Note into Common Stock. Any conversion of a Note will be deemed to have
been effected as of the close of business on the date on which this Note has been surrendered and the notice has been received, and at
that time, the rights of the Holder of this Note will cease and the person or persons in whose name or names any certificate or certificates
for Common Stock are to be issued upon conversion will be deemed to have become the Holder or Holders of record of the shares of Common
Stock represented thereby.

 

(b) Within
five (5) trading days after a conversion has been effected, the Company will deliver to the converting Holder a certificate or certificates
representing the number of shares of Common Stock issuable by reason of conversion (i.e., the principal amount of the Note divided by
the Conversion Price) in such name or names and such denomination or denominations as the converting Holder has specified (bearing such
legends as are required by applicable state and federal securities laws in the opinion of counsel to the Company).

 

(c) To
the extent required by the Company’s underwriters in connection with the Proposed IPO, the converting Holder agrees to execute
a market stand-off agreement covering the Conversion Shares acquired by Holder in connection with the conversion of this Note with the
underwriters in a form customary for underwritten pubic offerings of securities.

 

4.3 Fractional
Shares. No fractional shares shall be issued upon conversion of this Note. In lieu of the Company issuing any fractional shares to
Holder upon the conversion of this Note, the Company shall pay to Holder an amount in cash equal to the product obtained by multiplying
the Conversion Price (as defined below) applied to effect such conversion by the fraction of a share not issued pursuant to the previous
sentence.

 

4.4 Conversion
without Charge to Holder. The issuance of certificates for Common Stock upon conversion of this Note will be made without charge
to the Holder for any tax in respect thereof or other cost incurred by the Company in connection with conversion and the related issuance
of Common Stock. Upon conversion of any portion of this Note, the Company will take all actions as are necessary in order to ensure that
the Common Stock issuable with respect to conversion will be validly issued, fully paid and nonassessable.

 

4.5 Transfer
Books. The Company will not close its books against the transfer of this Note or of the shares of Common Stock issued or issuable
upon conversion of this Note in any manner which interferes with the timely conversion of this Note.

 

    	-5-

     

    

 

4.6 Conversion
Price. The “Conversion Price” shall initially be the public offering price per share of Common Stock in the Proposed
IPO multiplied by 0.80 (i.e., a 20% discount to the public offering price per share of Common Stock in the Proposed IPO) and shall be
subject to adjustment as described in Section 5.

 

5. Certain
Adjustments. The Conversion Price is subject to adjustment from time to time as set forth in this Section 5.

 

5.1 Stock
Dividends and Stock Splits. If the Company, at any time while this Note is outstanding: (A) pays a stock dividend or otherwise makes
a distribution or distributions payable in shares of Common Stock on shares of Common Stock or any Common Stock Equivalents (which, for
avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon conversion of, or payment of interest on,
the Notes); (B) subdivides outstanding shares of Common Stock into a larger number of shares; (C) combines (including by way of a reverse
stock split) outstanding shares of Common Stock into a smaller number of shares; or (D) issues, in the event of a reclassification of
shares of the Common Stock, any shares of capital stock of the Company, then the Conversion Price shall be multiplied by a fraction of
which the numerator shall be the number of shares of Common Stock (excluding any treasury shares of the Company) outstanding immediately
before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event.
Any adjustment made pursuant to this Section shall become effective immediately after the record date for the determination of stockholders
entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision,
combination or re-classification.

 

5.2 Fundamental
Transaction. If, at any time while this Note is outstanding, (A) the Company effects any merger or consolidation of the Company with
or into another Person, (B) the Company effects any sale of all or substantially all of its assets in one transaction or a series of
related transactions, (C) any tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which
holders of Common Stock are permitted to tender or exchange their shares for other securities, cash or property, or (D) the Company effects
any reclassification of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted
into or exchanged for other securities, cash or property (in any such case, a “Fundamental Transaction”), then, upon
any subsequent conversion of this Note, the Holder shall have the right to receive, for each Conversion Share that would have been issuable
upon such conversion immediately prior to the occurrence of such Fundamental Transaction, the same kind and amount of securities, cash
or property as it would have been entitled to receive upon the occurrence of such Fundamental Transaction if it had been, immediately
prior to such Fundamental Transaction, the holder of one (1) share of Common Stock (the “Alternate Consideration”).
For purposes of any such conversion, the determination of the Conversion Price shall be appropriately adjusted to apply to such Alternate
Consideration based on the amount of Alternate Consideration issuable in respect of one (1) share of Common Stock in such Fundamental
Transaction, and the Company shall apportion the Conversion Price among the Alternate Consideration in a reasonable manner reflecting
the relative value of any different components of the Alternate Consideration. If holders of Common Stock are given any choice as to
the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice as to the
Alternate Consideration it receives upon any conversion of this Note following such Fundamental Transaction. To the extent necessary
to effectuate the foregoing provisions, any successor to the Company or surviving entity in such Fundamental Transaction shall issue
to the Holder a new note consistent with the foregoing provisions and evidencing the Holder’s right to convert such note into Alternate
Consideration. The terms of any agreement pursuant to which a Fundamental Transaction is effected shall include terms requiring any such
successor or surviving entity to comply with the provisions of this Section 5.2 and insuring that this Note (or any such replacement
security) will be similarly adjusted upon any subsequent transaction analogous to a Fundamental Transaction.

 

    	-6-

     

    

 

5.3 Cash
Distributions. No adjustment on account of cash dividends or interest on the Company’s Common Stock or other securities purchasable
hereunder will be made to the Conversion Price.

 

5.4 Calculations.
All calculations under this Section 5 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be.
For purposes of this Section 6, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall
be the sum of the number of shares of Common Stock (excluding any treasury shares of the Company) issued and outstanding.

 

5.5 Notice
to the Holder.

 

(a) Adjustment
to Conversion Price. Whenever the Conversion Price is adjusted pursuant to any provision of this Section 5, the Company shall
promptly deliver to each Holder a notice setting forth the Conversion Price after such adjustment and setting forth a brief statement
of the facts requiring such adjustment.

 

(b) Notice
to Allow Conversion by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the Common
Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the Company shall
authorize the granting to all holders of the Common Stock of rights or warrants to subscribe for or purchase any shares of capital stock
of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection with any reclassification
of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer of all or substantially all of
the assets of the Company, of any compulsory share exchange whereby the Common Stock is converted into other securities, cash or property
or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company,
then, in each case, the Company shall cause to be filed at each office or agency maintained for the purpose of conversion of this Note,
and shall cause to be delivered to the Holder at its last address as it shall appear upon the Note Register, at least ten (10) calendar
days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be
taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as
of which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are
to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected
to become effective or close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to
exchange their shares of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation,
merger, sale, transfer or share exchange, provided that the failure to deliver such notice or any defect therein or in the delivery thereof
shall not affect the validity of the corporate action required to be specified in such notice. The Holder is entitled to convert this
Note during the 10-day period commencing on the date of such notice through the effective date of the event triggering such notice.

 

    	-7-

     

    

 

6. Reservation
of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued shares
of Common Stock for the purpose of effecting the conversion of this Note such number of its shares of Common Stock as shall from time
to time be sufficient to effect the conversion of this Note; and if at any time the number of authorized but unissued shares of Common
Stock shall not be sufficient to effect the conversion of the entire outstanding principal amount of this Note, without limitation of
such other remedies as shall be available to the Holder of this Note, the Company will use its best efforts to take such corporate action
as may, in the opinion of counsel, be necessary to increase its authorized but unissued shares of Common Stock to such number of shares
as shall be sufficient for such purposes.

 

7. Successors
and Assigns. Subject to the restrictions on transfer described in Sections 9 and 10, the rights and obligations of Company
and the Holder shall be binding upon and benefit the successors, assigns, heirs, administrators and transferees of the parties.

 

8. Waiver
and Amendment. Any provision of this Note may be amended, waived or modified upon the written consent of Company and the holders
of a majority in principal amount of the Notes.

 

9. Transfer
of this Note or Securities Issuable on Conversion Hereof. With respect to any offer, sale or other disposition of this Note or securities
into which such Note may be converted, the Holder will give written notice to the Company prior thereto, describing briefly the manner
thereof, together with a written opinion of the Holder’s counsel, or other evidence if reasonably satisfactory to the Company,
to the effect that such offer, sale or other distribution may be effected without registration or qualification (under any federal or
state law then in effect). Upon receiving such written notice and reasonably satisfactory opinion, if so requested, or other evidence,
the Company, as promptly as practicable, shall notify the Holder that the Holder may sell or otherwise dispose of this Note or such securities,
all in accordance with the terms of the notice delivered to Company. If a determination has been made pursuant to this Section 9
that the opinion of counsel for the Holder, or other evidence, is not reasonably satisfactory to the Company, the Company shall so notify
the Holder promptly after such determination has been made. Each Note thus transferred and each certificate representing the securities
thus transferred shall bear a legend as to the applicable restrictions on transferability in order to ensure compliance with the Securities
Act, unless in the opinion of counsel for the Company such legend is not required in order to ensure compliance with the Securities Act.
The Company may issue stop transfer instructions to its transfer agent in connection with such restrictions. Subject to the foregoing
transfers of this Note shall be registered upon registration books maintained for such purpose by or on behalf of the Company as provided
in the Securities Purchase Agreement. Prior to presentation of this Note for registration of transfer, the Company shall treat the registered
Holder hereof as the owner and the Holder of this Note for the purpose of receiving all payments of principal and interest hereon and
for all other purposes whatsoever, whether or not this Note shall be overdue and the Company shall not be affected by notice to the contrary.

 

    	-8-

     

    

 

10. Assignment
by the Company. Neither this Note nor any of the rights, interests or obligations hereunder may be assigned, by operation of law
or otherwise, in whole or in part, by Company without the prior written consent of the Holder.

 

11. Notices.
All notices, requests, demands, consents, instructions or other communications required or permitted hereunder shall be in writing and
shall be given in accordance with the Securities Purchase Agreement and shall be deemed effectively given as described in the Securities
Purchase Agreement.

 

12. Pari
Passu Notes. The Holder acknowledges and agrees that the payment of all or any portion of the outstanding principal amount of this
Note and all interest hereon shall be pari passu in right of payment and in all other respects to the other Notes issued pursuant to
the Securities Purchase Agreement or pursuant to the terms of such Notes. In the event the Holder receives payments in excess of its
pro rata share of the Company’s payments to the holders of all of the Notes, then the Holder shall hold in trust all such excess
payments for the benefit of the holders of the other Notes and shall pay such amounts held in trust to such other holders upon demand
by such holders.

 

13. Payment.
Payment shall be made in lawful tender of the United States.

 

14. Usury.
In the event any interest is paid on this Note which is deemed to be in excess of the then legal maximum rate, then that portion of the
interest payment representing an amount in excess of the then legal maximum rate shall be deemed a payment of principal and applied against
the principal of this Note.

 

15. Waivers.
The Company hereby waives notice of default, presentment or demand for payment, protest or notice of nonpayment or dishonor and all other
notices or demands relative to this instrument.

 

16. Governing
Law. This Note and all actions arising out of or in connection with this Note shall be governed by and construed in accordance with
the laws of the State of California, without regard to the conflicts of law provisions of the State of California, or of any other state.

 

    	-9-

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Note to be issued as of the Original Issue Date.

 

	 	SONDORS
    INC.,
	 	a
    Delaware corporation
	 	 
	 	By:	 
	 		Storm
    Sondors, President

 

    	-10-

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