Document:

Exhibit 10.1

 

EXECUTION
COPY

  

 

ASSET
PURCHASE AGREEMENT

 

between

 

True
Harvest, LLC,

 

Greenrose
Acquisition Corp.

 

and

 

True
Harvest Holdings, Inc.

 

dated
as of

 

March
12, 2021

 

 

 

     

     

    

 

ASSET
PURCHASE AGREEMENT

 

THIS
ASSET PURCHASE AGREEMENT (this “Agreement”), dated as of March 12, 2021, is entered into between True Harvest,
LLC, an Arizona limited liability company (“Seller”), Greenrose Acquisition Corp, a Delaware Corporation (“Parent”),
and True Harvest Holdings, Inc., a Delaware corporation (“Buyer”).

 

RECITALS

 

WHEREAS,
Seller (i) operates an indoor cannabis cultivation facility located at 4301 W Buckeye Rd., Phoenix, AZ 85043 and (ii) supplies
cannabis to licensed marijuana dispensaries in Arizona (collectively, the “Business”);

 

WHEREAS
Seller wishes to sell and assign to Buyer, and Buyer wishes to purchase and assume from Seller, the rights and obligations of
Seller to the Purchased Assets and the Assumed Liabilities (as defined herein) subject to the terms and conditions set forth herein;
and

 

WHEREAS,
Buyer, in addition to other covenants, agrees to hire the Transferred Employees (as defined below), effective as of the Closing
(as defined herein), on the terms and conditions set forth herein and the offer letter issued by Buyer to each of the Transferred
Employees.

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

ARTICLE
I

PURCHASE AND SALE

 

Section
1.01Purchase and Sale of Assets. Subject to the terms and conditions set forth herein, Seller shall sell, assign, transfer,
convey and deliver to Buyer, and Buyer shall purchase from Seller, free and clear of any mortgage, pledge, lien, charge, security
interest, claim or other encumbrance (“Encumbrance”), all of Seller’s right, title and interest in, to
and under all of the assets, properties, and rights of every kind and nature, whether real, personal, or mixed, tangible or intangible
(including goodwill), wherever located (other than the Excluded Assets) that are used or held for use in connection with the Business
(collectively, the “Purchased Assets”), including, without limitation, the assets set forth on Schedule
1.01 of the Disclosure Schedules (as defined below).

 

Section
1.02Excluded Assets. Notwithstanding the foregoing, the Purchased Assets shall not include the following assets (collectively,
the “Excluded Assets”): (a) any working capital of Seller, including cash, cash equivalents and accounts receivables,
(b) all benefit plans of Seller and all assets related to any such benefit plans and (c) any other assets identified on Schedule
1.02 of the Disclosure Schedules (the “Excluded Assets”).

 

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Section
1.03Assumption of Liabilities. Subject to the terms and conditions set forth herein, Buyer shall assume and agree to pay,
perform and discharge only the following liabilities and obligations of Seller (collectively, the “Assumed Liabilities”):
(a) the obligations of Seller under the Assigned Contracts that (i) arise after the Closing, (ii) relate to periods following
the Closing, and (iii) are to be paid or performed at any time after the Closing, (b) the obligations and liabilities set forth
on Schedule 1.03 of the Disclosure Schedules and (c) all other liabilities arising out of Buyer’s operation of the
Business after the Closing. In no event shall Buyer be responsible for or have assumed any liability of Seller relating to any
breach, default or violation by Seller on or prior to the Closing. Other than the Assumed Liabilities, Buyer shall not assume
any liabilities or obligations of Seller of any kind, whether known or unknown, asserted or unasserted, absolute or contingent,
accrued or unaccrued, liquidated or unliquidated, due or to become due, or otherwise, whether currently existing or hereinafter
created and whether or not related to the Business or the Purchased Assets (“Excluded Liabilities”). Without
limiting the foregoing, Excluded Liabilities shall include any liabilities or obligations (A) relating to a breach or default
by Seller under any Assigned Contract (as defined herein) prior to the Closing; (B) all Taxes (as defined below), fees, levies,
duties, tariffs and other governmental impositions or charges with respect to Tax periods (or portions thereof) ending on or prior
to the Closing; (C) under any environmental, health or safety laws or regulations arising on or prior to the Closing; (D) with
respect to periods on or before the Closing, under or with respect to, any employee pension benefit plan, employee welfare benefit
plan, or any other plan, program, policy, practice or other arrangement providing for compensation, severance, termination pay,
deferred compensation, performance award, equity or equity-based awards, fringe benefits, vacation pay, sickness, disability or
death benefit plan, medical or life insurance plan or other employee benefits or remuneration of any kind; (E) with respect to
any current or former employee, director, member, manager, stockholder, partner, agent or independent contractor of Seller, other
than with respect to Transferred Employees, for periods ending on or prior to the Closing; (F) arising out of, or relating to,
any conduct or alleged conduct of any employee or independent contractor of Seller, other than Transferred Employees, for periods
ending on or prior to the Closing; (G) to Seller’s equity owners or their affiliates; (H) except as set forth on Schedule
1.03 of the Disclosure Schedules, with respect to any loans or guaranties of Seller; (I) arising out of, or relating to, any
litigation, investigation or other proceeding pending on the Closing Date (as defined herein) or commenced after the Closing Date
to the extent arising out of, or relating to, any act or omission of Seller or any event circumstance, condition, breach or default
occurring on or prior to the Closing; (J) arising out of, or resulting from, Seller’s compliance or noncompliance with any
legal or regulatory requirement or governmental order; (K) relating to, or resulting from, Seller’s Intellectual Property
(as defined herein) to the extent arising on or prior to the Closing; (L) based upon Seller’s acts or omissions occurring
after the Closing; (M) arising from the failure to send any notice, make any filing, obtain any consent or approval required to
be sent, made, filed or obtained by Seller; or (N) that do not relate to the Business.

 

Section
1.04The Purchase Price and Earnout. The purchase price to be paid by the Buyer to Seller for the Purchased Assets shall
be Fifty Million and 00/100 Dollars ($50,000,000) (the “Initial Payment Amount” and together with the Earnout
Payment, the “Purchase Price”) payable in the following manner:

 

		(a)	Twenty-One
                                         Million Seven Hundred Fifty Thousand and 00/100 Dollars ($21,750,000) in cash (the “Initial
                                         Cash Amount”), by wire transfer of immediately available funds in accordance
                                         with the wire instructions and other directions set forth on Schedule 1.04(a)
                                         of the Disclosure Schedules;

 

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		(b)	Twenty-Five
                                         Million and 00/100 Dollars ($25,000,000) evidenced by a senior secured promissory note
                                         issued by Buyer to Seller secured by the Purchased Assets in the form attached hereto
                                         as Exhibit A (“Secured Note”); and

 

		(c)	Three
                                         Million Two Hundred Fifty Thousand and 00/100 Dollars ($3,250,000) which represents the
                                         amount of the assumed debt set forth on Schedule 1.03, which shall be assumed
                                         by delivering to Seller an Assignment and Assumption Agreement pursuant to Section
                                         2.02(a)(ii).

 

Section
1.05Earnout Payment.

 

		(a)	Subject
                                         to the terms of this Section 1.05, Buyer will pay contingent consideration to
                                         Seller (the “Earnout Payment”) of up to a maximum of Thirty-Five Million
                                         and 00/100 Dollars ($35,000,000) (the “Maximum Earnout Amount”) based
                                         on the Business attaining, within thirty-six (36) months after the Closing Date (the
                                         “36 Month Price Point”), a certain price point per pound of cannabis
                                         flower (“flower”) as compared to total flower production, irrespective
                                         of the final form in which such flower is sold. The Earnout Payment, if any, shall be
                                         evidenced by a promissory note substantially in the form of Exhibit H attached
                                         hereto (the “Earnout Note”). The Earnout Note shall bear interest
                                         as an annual rate of 8% per annum, shall be fully amortized, and have a maturity date
                                         of twenty-four (24) months after issuance.

 

		(b)	The
                                         36 Month Price Point will be equal to the average of the Weighted Average Annual Price
                                         Points for the three (3) years following the Closing Date. The “Weighted Average
                                         Annual Price Point” equals revenue of the Business for the three (3) year period
                                         following the Closing Date divided by total weight of flower product produced and sold
                                         by Buyer (as listed in Biotrack or equivalent tracking system) during the three (3) year
                                         period following the Closing Date, provided, that in the event any flower product
                                         is lost or otherwise destroyed, then such lost or destroyed products shall not be included
                                         in the calculation of Weighted Average Annual Price Point.

 

		(c)	The
                                         percentage of the Maximum Earnout Amount payable by Buyer to Seller as the Earnout Payment
                                         will be determined in accordance with the following table:

 

	 	36
    Month Price Point
	Percentage
    of Earnout	Flower
    Production of <17,500 pounds/yr.	Flower
    Production of >17,500 pounds/yr.
	0%	<$2,199	<$2,199
	20%	$2,200-$2,399	$2,200-$2,199
	50%	$2,400-$2,699	$2,200-$2,499
	80%	$2,700-$2,999	$2,500-$2,799
	100%	$3,000+	$2,800+

 

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		(d)	On
                                         or before the fifteenth (15th) day of the first calendar month after each
                                         quarter end, Buyer shall report to Seller (i) the average price points for the preceding
                                         quarter calculated by taking the total revenue for the preceding quarter divided by total
                                         weight of flower product produced in the preceding quarter as listed in Biotrack or equivalent
                                         tracking system and (ii) the average price point since the Closing Date calculated by
                                         taking the total revenue since the Closing Date divided by the total weight of the flower
                                         product produced since the Closing Date.

 

		(e)	On
                                         or before the fifteenth (15th) day following the three (3) year anniversary of the Closing
                                         Date, Buyer shall deliver to Seller a statement of the 36 Month Price Point and associated
                                         Earnout Payment (“Earnout Payment Calculation”), which statement shall
                                         be accompanied by supporting documentation including information related to revenue recognition
                                         and production values for the period elapsed since the Closing Date.

 

		(f)	Seller
                                         shall have thirty (30) days after Buyer’s delivery of the Earnout Payment Calculation
                                         to review the Earnout Payment Calculation (the “Earnout Review Period”).
                                         During the Earnout Review Period, Seller and its Representatives shall have the right
                                         to inspect Buyer’s books and records during normal business hours at the Buyer’s
                                         offices, subject to the confidentiality obligations of Section 5.06 hereof, upon
                                         reasonable prior notice and solely for purposes reasonably related to verifying the accuracy
                                         of the Earnout Payment Calculation. Prior to the expiration of the Earnout Review Period,
                                         Seller may in good faith dispute the Earnout Payment Calculation (“Earnout Dispute”),
                                         by delivering a written notice of dispute to Buyer setting forth in detail the nature
                                         of the dispute (an “Earnout Dispute Notice”). Seller and Buyer shall
                                         negotiate in good faith to resolve such dispute within thirty (30) days after delivery
                                         of the Earnout Dispute Notice. If the parties cannot resolve such dispute within such
                                         thirty (30) day period, then such dispute shall be handled pursuant to the provisions
                                         of Section 9.11. In the event that Seller fails to deliver the Earnout Dispute
                                         Notice within the Earnout Review Period, then the Earnout Payment Calculation shall be
                                         deemed final and conclusive. Buyer shall pay to Seller on or before ten (10) days following
                                         the resolution of the Earnout Dispute the Earnout Payment determined in accordance with
                                         such dispute resolution (if any).

 

		(g)	In
                                         the event that Seller does not deliver the Earnout Dispute Notice, Buyer shall pay to
                                         Seller on or before ten (10) days following the earlier of (i) the expiration of the
                                         Earnout Review Period or (ii) the date upon which Seller provides Buyer with written
                                         notices of its acceptance of the Earnout Payment Calculation, the Earnout Payment reflected
                                         on the Earnout Payment Calculation (if any) by wire transfer of immediately available
                                         funds accordance with the wire instructions and other directions set forth on Schedule
                                         1.04(a) of the Disclosure Schedules or as otherwise instructed in writing by Seller
                                         to Buyer.

 

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		(h)	Following
                                         the Closing until the date that is three (3) years following the Closing Date, Buyer
                                         shall (i) operate the Business in a manner that is consistent with the manner in which
                                         Seller operated the Business in the two (2) years prior to the Closing Date; (ii) continue
                                         to maintain separate books and records for the Business; (iii) not directly or indirectly,
                                         take any actions in bad faith to intentionally avoid or reduce any Earnout Payment (including,
                                         without limitation, disposing of all or any portion of the assets of the Company outside
                                         the ordinary course of business, diverting revenues away from the Business to any of
                                         its Affiliates, or artificially reducing production of products or reducing the product
                                         price); (iv) not materially change its accounting practices and policies, including with
                                         respect to deferral of revenue and acceptance of customer deposits; (v) not materially
                                         change the metrics or requirements for flower product weight from those used in the Biotrack
                                         system as of the Closing Date; (vi) not offer customer discounts in any given year in
                                         exchange for larger payments in post-earnout years; and (vii) not sell product in exchange
                                         for payment other than for cash consideration.

 

		(i)	In
                                         the event that after the Closing Date (i) there occurs a sale or other disposition of
                                         all or substantially all of the assets of Buyer or the Business, or a merger, consolidation,
                                         recapitalization or other transaction in which any person or entity who is not an owner
                                         of an interest in Buyer on the Closing Date becomes the beneficial owner, directly or
                                         indirectly, of fifty percent (50%) or more of the combined voting power of all interests
                                         in Buyer or (ii) Buyer materially breaches any of the covenants set forth in Section
                                         1.05(h) (each, a “Triggering Event”), an amount equal to the Maximum
                                         Earnout Amount shall be immediately due and payable on and as of the date of the Triggering
                                         Event.

 

		(j)	Buyer’s
                                         and Parent’s obligation to pay the Earnout Payment shall be secured by the assets
                                         of the Business pursuant to a Security Agreement in the form attached hereto as Exhibit
                                         B (the “Security Agreement”).

 

		(k)	Buyer
                                         and Seller understand and agree that (i) the contingent rights to receive any Earnout
                                         Payment hereunder are not transferable, except by operation of law and do not constitute
                                         an equity or ownership interest in Buyer or the Business, (ii) Seller shall not have
                                         any rights as a securityholder of Buyer or the Business as a result of Seller’s
                                         contingent right to receive any Earnout Payment hereunder, and (iii) no interest is payable
                                         with respect to any Earnout Payments.

 

		(l)	Any
                                         payments made pursuant to Section 1.05 shall be treated as an adjustment to the
                                         Purchase Price by the parties for Tax purposes, unless otherwise required by Law.

 

Section
1.06Allocation of Purchase Price. Seller and Buyer agree to allocate the Purchase Price and other items treated as consideration
for the Purchased Assets for Tax purposes, among the Purchased Assets for all purposes (including Tax and financial accounting)
in a manner consistent with the methodology set forth on Schedule 1.06 (the “Purchase Price Allocation”).
Each party agrees that it will (i) be bound by the Purchase Price Allocation for the purposes of determining any Taxes, (ii) report
for Tax purposes the transactions consummated pursuant to this Agreement in a manner consistent with the Purchase Price Allocation
(including without limitation, if applicable, the filing of Internal Revenue Service Form 8594), and (iii) not take a position
for Tax purposes that is inconsistent with the Purchase Price Allocation on any Tax return or in any proceeding before any Tax
authority except with the prior written consent of the other party. In the event that the Purchase Price Allocation is disputed
by any Tax authority, the party receiving notice of such dispute will promptly notify the other party, provided that the failure
of the party receiving such notice of dispute to promptly notify the other party shall not constitute a breach of this provision
unless such other party is actually prejudiced by such failure.

 

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Section
1.07Withholding Tax. Buyer shall be entitled to deduct and withhold from the Purchase Price all Taxes that Buyer may be
required to deduct and withhold under any applicable Tax law. All such withheld amounts shall be treated as delivered to Seller
hereunder.

 

Section
1.08Parent Guaranty. To induce Seller to enter into this Agreement, Parent hereby absolutely, irrevocably and unconditionally
guarantees to Seller, the performance of Buyer’s obligations pursuant to Section 1.04 and Section 1.05 (the
“Guaranteed Obligations”). The guarantee pursuant to this Section 1.08 is absolute, irrevocable and
unconditional and shall not be impaired, discharged or terminated by any act or omission by Buyer or Parent that may affect the
enforceability of this guarantee. If Parent makes a payment or performs an action in full satisfaction of any Guaranteed Obligation,
such satisfaction shall be deemed to be a satisfaction of such obligation in full by Buyer for purposes of this Agreement. At
the Closing, Parent shall have all necessary power and authority to execute and deliver this Agreement and to perform the Guaranteed
Obligations hereunder.

 

ARTICLE
II

CLOSING

 

Section
2.01Closing. Subject to the terms and conditions of this Agreement, the closing of the transactions contemplated by this
Agreement (the “Closing”) shall take place remotely via the exchange of documents and signatures no later than
three (3) business days after the satisfaction or, to the extent permitted hereunder, waiver of all conditions set forth in Article
VI (other than those conditions that by their nature are to be satisfied at the Closing, but subject to the satisfaction or,
to the extent permitted hereunder, waiver of all such conditions), unless this Agreement has been terminated pursuant to its terms
or unless another time or date is agreed to in writing by the parties hereto (the day on which the Closing takes place being the
“Closing Date”).

 

Section
2.02Closing Deliverables.

 

		(a)	At
                                         the Closing, Seller shall deliver to Buyer the following:

 

		(i)	a
                                         bill of sale in the form of Exhibit C hereto (the “Bill of Sale”)
                                         duly executed by Seller, transferring the Purchased Assets to Buyer;

 

		(ii)	an
                                         assignment and assumption agreement in the form of Exhibit D hereto (the “Assignment
                                         and Assumption Agreement”) duly executed by Seller, effecting the assignment
                                         to and assumption by Buyer of the Assumed Liabilities;

 

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		(iii)	an
                                         assignment in the form of Exhibit E hereto (the “Intellectual Property
                                         Assignments”) duly executed by Seller, transferring all of Seller’s right,
                                         title and interest in and to the trademark registrations and applications, patents and
                                         patent applications, copyright registrations and applications and domain name registrations
                                         included in the Purchased Assets /Purchased IP (as defined herein) to Buyer;

 

		(iv)	a
                                         Non-Competition Agreement in the form of Exhibit F hereto (the “Noncompetition
                                         Agreement”) executed and delivered by each of the individuals listed on Schedule
                                         2.02 of the Disclosure Schedules;

 

		(v)	copies
                                         of all consents, approvals, waivers, notices and authorizations referred to on Schedule
                                         3.02 of the Disclosure Schedules;

 

		(vi)	confirmation
                                         of payment, and if applicable termination of any liens, for amounts owed on the Purchased
                                         Assets;

 

		(vii)	a
                                         copy, certified by the Secretary of Seller to be true, complete and correct as of the
                                         Closing Date, of the articles of organization and operating agreement of Seller (the
                                         “Organizational Documents”) and copies of resolutions of the members
                                         and manager of Seller authorizing and approving this Agreement, the documents and instruments
                                         related hereto and the transactions contemplated hereby and thereby;

 

		(viii)	a
                                         lease assignment and assumption agreement, in the form attached hereto as Exhibit
                                         G (the “Lease Assignment and Assumption Agreement”) duly executed
                                         by Seller and Michael Macchiaroli, assigning Seller’s rights under that certain
                                         Lease, dated as of July 25, 2017, by and between MSCP, L.L.C. (the “Landlord”)
                                         and Seller (the “Lease”), which shall, among other things, include
                                         express language releasing Michael Macchiaroli from his obligations as Guarantor under
                                         the Lease;

 

		(ix)	a
                                         copy of the Security Agreement, duly executed by Seller;

 

		(x)	a
                                         certificate duly executed by Seller in a form reasonably acceptable to Buyer certifying
                                         that Seller is not a “foreign person” as that term is used in Treasury Regulations
                                         Section 1.1445-2; and

 

		(xi)	such
                                         other customary instruments of transfer, assumption, filings or documents as Buyer has
                                         requested in writing to give effect to this Agreement.

 

		(b)	At
                                         the Closing, Buyer shall deliver to Seller the following:

 

		(i)	the
                                         Initial Cash Amount by wire transfer of immediately available funds in accordance with
                                         the wire instructions and other directions set forth on Schedule 1.04(b);

 

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		(ii)	the
                                         Secured Note duly executed by Buyer;

 

		(iii)	a
                                         copy of the Security Agreement, duly executed by Buyer and Parent;

 

		(iv)	the
                                         Assignment and Assumption Agreement duly executed by Buyer;

 

		(v)	the
                                         Non-Competition Agreement duly executed by Buyer;

 

		(vi)	the
                                         Lease Assignment and Assumption Agreement, duly executed by Landlord; and

 

		(vii)	copies
                                         of all consents and authorizations referred to in Schedule 4.02 of the Disclosure
                                         Schedules.

 

ARTICLE
III

REPRESENTATIONS AND WARRANTIES OF SELLER

 

Except
as otherwise set forth in a disclosure schedule of even date herewith which is executed and delivered by Seller (the “Disclosure
Schedules”), Seller represents and warrants to Buyer that the statements contained in this Article III are true
and correct as of the date hereof. For purposes of this Article III, “Seller’s knowledge,” “knowledge
of Seller” and any similar phrases shall mean the actual or constructive knowledge of Dieter Gable, Chris Watson and Michael
Macchiaroli, after due inquiry (“knowledge” for the avoidance of doubt shall include such inquiry that a prudent businessperson
would have made in order to gain full understanding and determination of the accuracy of such fact or matter).

 

Section
3.01Organization and Authority of Seller; Enforceability. Seller is a limited liability company duly organized, validly
existing and in good standing under the laws of the state of Arizona. Seller has full power and authority to enter into this Agreement
and the documents to be delivered hereunder, to carry out its obligations hereunder and to consummate the transactions contemplated
hereby. The execution, delivery and performance by Seller of this Agreement and the documents to be delivered hereunder and the
consummation of the transactions contemplated hereby have been duly authorized by all requisite action on the part of Seller.
This Agreement and the documents to be delivered hereunder have been duly executed and delivered by Seller, and (assuming due
authorization, execution and delivery by Buyer) this Agreement and the documents to be delivered hereunder constitute legal, valid
and binding obligations of Seller, enforceable against Seller in accordance with their respective terms except (i) to the extent
that enforceability may be subject to, and limited by, applicable bankruptcy, insolvency, reorganization, moratorium, receivership
or other laws affecting the enforcement of creditors’ rights generally and (ii) that the availability of equitable remedies,
including specific performance, is subject to the discretion of the court before which any proceeding thereof may be brought (the
“Enforceability Exceptions”).

 

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Section
3.02No Conflicts; Consents. The execution, delivery and performance by Seller of this Agreement and the documents to be
delivered hereunder, and the consummation of the transactions contemplated hereby, do not and will not: (a) violate or conflict
with the Organizational Documents of Seller; (b) violate or conflict with any judgment, order, decree, statute, law, ordinance,
rule or regulation applicable to Seller, the Business or the Purchased Assets; (c) conflict with, or result in (with or without
notice or lapse of time or both) any violation of, or default under, or give rise to a right of termination, acceleration or modification
of any obligation or loss of any benefit under any contract or other instrument to which Seller is a party or by which Seller
or the Business is bound or to which any of the Purchased Assets are subject (including any Assigned Contract); or (d) result
in the creation or imposition of any Encumbrance on the Purchased Assets, except in the cases of clauses (b) or (c), where the
violation, breach, conflict, default, acceleration or failure to give notice would not have a material adverse effect. Except
as set forth in Schedule 3.02 of the Disclosure Schedules, no consent, approval, waiver or authorization is required to
be obtained by Seller from any person or entity (including any governmental authority) in connection with the execution, delivery
and performance by Seller of this Agreement and the consummation of the transactions contemplated hereby.

 

Section
3.03Title to Purchased Assets. Except as set forth in Schedule 3.03 of the Disclosure Schedules, Seller owns and
has good and valid title to the Purchased Assets, free and clear of Encumbrances other than Permitted Encumbrances. “Permitted
Encumbrances” means (a) liens for Taxes not yet due and payable or being contested in good faith by appropriate procedures;
(b) mechanics’, carriers’, workmen’s, repairmen’s or other like liens arising or incurred in the ordinary
course of business; (c) easements, rights of way, zoning ordinances and other similar encumbrances affecting real property; and
(d) liens arising under original purchase price conditional sales contracts and equipment leases with third parties entered into
in the ordinary course of business.

 

Section
3.04Condition of Assets. The tangible personal property included in the Purchased Assets are in good condition and are
adequate for the uses to which they are being put, and none of such tangible personal property is in need of maintenance or repairs
except for ordinary, routine maintenance and repairs that are not material in nature or cost.

 

Section
3.05Inventory. All inventory, finished goods, raw materials, work in progress, packaging, supplies, parts and other inventories
included in the Purchased Assets consist of a quality and quantity usable and salable in the ordinary course of business.

 

Section
3.06Intellectual Property.

 

		(a)	“Intellectual
                                         Property” means any and all rights in, arising out of, or associated with any
                                         of the following in any jurisdiction throughout the world: (a) issued patents and patent
                                         applications (whether provisional or non-provisional), and all divisions, continuations,
                                         continuations-in-part, reissues, extensions, reexamination and renewals thereof, (b)
                                         trademarks, service marks, brands, certification marks, logos, trade dress, trade names,
                                         domain name registrations and other similar indicia of source or origin, together with
                                         the goodwill connected with the use of and symbolized by, and all registrations, applications
                                         for registration, and renewals of, any of the foregoing; (c) copyrights and works of
                                         authorship, whether or not copyrightable, and all registrations, applications for registration,
                                         and renewals of any of the foregoing; (d) industrial designs, trade secrets, know-how,
                                         inventions (whether or not patentable), discoveries, improvements, technology, business
                                         and technical information, databases, data compilations and collections, tools, methods,
                                         processes, techniques, and other confidential and proprietary information and all rights
                                         therein; (e) computer programs, applications, firmware and other code, including all
                                         source code, object code, application programming interfaces, data files, databases,
                                         protocols, specifications, and other documentation thereof; and (f) all other intellectual
                                         or industrial property and proprietary rights; together with all (i) royalties, fees,
                                         income, payments, and other proceeds now or hereafter due or payable with respect to
                                         the foregoing, and (ii) any and all claims and causes of action with respect to the foregoing,
                                         whether accruing before, on, or after the date hereof/accruing on or after the date hereof,
                                         including all rights to and claims for damages, restitution, and injunctive and other
                                         legal or equitable relief for past, present, or future infringement, misappropriation,
                                         or other violation thereof.

 

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		(b)	Schedule
                                         3.06(b) of the Disclosure Schedules lists all (i) registrations or applications for
                                         registration, (ii) material common law trademarks and (iii) material software created
                                         by or for Seller, within the Intellectual Property included in the Purchased Assets (“Purchased
                                         IP”). Seller owns or has adequate, valid and enforceable rights to use all
                                         the Purchased IP, free and clear of all Encumbrances. Seller is not bound by any outstanding
                                         judgment, injunction, order or decree restricting the use of the Purchased IP, or restricting
                                         the licensing thereof to any person or entity. With respect to the registered Intellectual
                                         Property listed on Schedule 3.06(b) of the Disclosure Schedules, (i) all such
                                         Intellectual Property is valid, subsisting and in full force and effect; and (ii) Seller
                                         has paid all maintenance fees and made all filings required to maintain Seller’s
                                         ownership thereof. For all such registered Intellectual Property, Schedule 3.06(b)
                                         of the Disclosure Schedules lists (i) the jurisdiction where the application or registration
                                         is located; (ii) the application or registration number; (iii) the application or registration
                                         date; and (iv) the application expiration dates.

 

		(c)	To
                                         Seller’s knowledge, Seller’s prior and current use of the Purchased IP has
                                         not and does not infringe, violate, dilute or misappropriate the Intellectual Property
                                         of any person or entity and there are no claims pending or threatened by any person or
                                         entity with respect to the ownership, validity, enforceability, effectiveness or use
                                         of the Purchased IP. To Seller’s knowledge, no person or entity is infringing,
                                         misappropriating, diluting or otherwise violating any of the Purchased IP, and neither
                                         Seller nor any affiliate of Seller has made or asserted any claim, demand or notice against
                                         any person or entity alleging any such infringement, misappropriation, dilution or other
                                         violation.

 

Section
3.07Assigned Contracts. Schedule 3.07 of the Disclosure Schedules includes each contract included in the Purchased
Assets and being assigned to and assumed by Buyer (the “Assigned Contracts”). Each Assigned Contract is valid
and binding on Seller in accordance with its terms and is in full force and effect and may be assigned to Buyer as contemplated
hereby. None of Seller or, to Seller’s knowledge, any other party thereto is in material breach of or material default under
(or is alleged to be in breach of or default under), or has provided or received any notice of any intention to terminate, any
Assigned Contract. To Seller’s knowledge, no event or circumstance has occurred that, with or without notice or lapse of
time or both, would constitute an event of default under any Assigned Contract or result in a termination thereof or would cause
or permit the acceleration or other changes of any right or obligation or the loss of benefit thereunder. Complete and correct
copies of each Assigned Contract have been made available to Buyer. There are no disputes pending or, to Seller’s knowledge,
threatened under any Assigned Contract.

 

    10

     

    

 

Section
3.08Permits. Schedule 3.08 of the Disclosure Schedules lists all material permits, licenses, franchises, approvals,
authorizations, registrations, certificates, variances and similar rights obtained from governmental authorities included in the
Purchased Assets (the “Seller Permits”). The Seller Permits are valid and in full force and effect. All fees
and charges with respect to such Seller Permits as of the date hereof have been paid in full. No event has occurred that, with
or without notice or lapse of time or both, would reasonably be expected to result in the revocation, suspension, lapse or limitation
of any Seller Permit.

 

Section
3.09Non-foreign Status. Seller is not a “foreign person” as that term is used in Treasury Regulations Section
1.1445-2.

 

Section
3.10Compliance With Laws. Seller has complied, and is now complying, with all applicable federal, state and local laws
and regulations applicable to ownership and use of the Business or the Purchased Assets except where the failure to be in compliance
would not have a material adverse effect, provided, that to the extent that federal laws impose restrictions, standards, requirements,
penalties or conditions with respect to the trafficking or sale of cannabis related products inconsistent with applicable state
or local laws, the term “applicable law” shall refer only to such state or local laws, and shall expressly exclude
such conflicting federal laws.

 

Section
3.11Legal Proceedings. There is no claim, action, suit, proceeding or governmental investigation (“Action”)
of any nature pending or, to Seller’s knowledge, threatened against or by Seller (a) relating to or affecting the Business,
the Purchased Assets or the Assumed Liabilities; or (b) that challenges or seeks to prevent, enjoin or otherwise delay the transactions
contemplated by this Agreement. No event has occurred or circumstances exist that may give rise to, or serve as a basis for, any
such Action.

 

Section
3.12Taxes. Except as set forth on Schedule 3.12 of the Disclosure Schedules, all Taxes due and owing by Seller
have been, or will be, timely paid. Except as set forth on Schedule 3.12 of the Disclosure Schedules, no extensions or
waivers of statutes of limitations have been given or requested with respect to any Taxes of Seller. All Tax returns required
to be filed by Seller for any Tax periods prior to Closing have been, or will be, timely filed. Such Tax returns are, or will
be, true, complete and correct in all respects. The term “Taxes” means all federal, state, local, foreign,
and other income, gross receipts, sales, use, production, ad valorem, transfer, documentary, franchise, registration, profits,
license, withholding, payroll, employment, unemployment, excise, severance, stamp, occupation, premium, property (real or personal),
customs, duties, or other Taxes, fees, assessment, or charges of any kind whatsoever, together with any interest, additions, or
penalties with respect thereto.

 

Section
3.13Brokers. No broker, finder or investment banker is entitled to any brokerage, finder’s or other fee or commission
in connection with the transactions contemplated by this Agreement based upon arrangements made by or on behalf of Seller.

 

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Section
3.14Employees. Schedule 3.14 of the Disclosure Schedules contains a true, correct and complete list of all employees
of Seller for which Buyer has agreed to make offers of employment. None of the employees are subject to any collective bargaining,
union or labor contract and all of the employees are at-will employees. Seller has complied, in all material respects, with all
applicable laws with respect to its employees, including under Seller’s employee benefit plans, and there are no pending
or, to the knowledge of Seller, threatened claims against Seller or its employees (in their respective capacities as such) or
affiliates by any of the employees listed on Schedule 3.14. of the Disclosure Schedules

 

Section
3.15Description of Leased Real Property. Schedule 3.15 of the Disclosure Schedules contains a correct legal description,
street address and Tax parcel identification number of all tracts, parcels and subdivided lots in which Seller has a leasehold
interest and an accurate description (by location, name of lessor, date of lease and term expiry date) of all real property leases.

 

Section
3.16Compliance with OFAC. None of Seller, or any director, manager, officer, agent, employee or affiliate of Seller is
a Person (as defined in the Securities Act) that is, or is owned or controlled by a Person that is, currently the subject or target
of any sanctions administered or enforced by the U.S. government (including, without limitation, the Office of Foreign Assets
Control of the U.S. Treasury Department (“OFAC”) or the U.S. Department of State and including, without limitation,
the designation as a “specially designated national” or “blocked person”), the United Nations Security
Council, or other relevant sanctions authority (collectively, “Sanctions”). Seller has not engaged in and is
not now engaged in any dealings or transactions with any Person that at the time of the dealing or transaction is or was the subject
or the target of Sanctions or with any country or territory that is the subject or the target of Sanctions, including, without
limitation, Cuba, Iran, North Korea, Sudan, and Syria.

 

Section
3.17No Other Representations and Warranties. Except for the representations and warranties contained in this Article
III (including the related portions of the Disclosure Schedules), neither Seller nor any other person or entity has made or
makes any other express or implied representation or warranty, either written or oral, on behalf of Seller, including any representation
or warranty as to the accuracy or completeness of any information regarding the Business and the Purchased Assets furnished or
made available to Buyer and its agents and representatives (including any information, documents or material made available to
Buyer in the Data Room hosted on DropBox, management presentations or in any other form in expectation of the transactions contemplated
hereby) or as to the future revenue, profitability or success of the Business, or any representation or warranty arising from
statute or otherwise in law.

 

ARTICLE
IV

REPRESENTATIONS AND WARRANTIES OF PARENT AND BUYER

 

Parent
and Buyer jointly and severally represent and warrant to Seller that the statements contained in this Article IV, are true
and correct as of the date hereof as follows:

 

Section
4.01Organization and Authority of Buyer; Enforceability. Each of Parent and Buyer is a corporation duly organized, validly
existing and in good standing under the laws of the State of Delaware. Buyer is a wholly-owned subsidiary of Parent. Each of Parent
and Buyer has full corporate power and authority to enter into this Agreement and the documents to be delivered hereunder, to
carry out its obligations hereunder and to consummate the transactions contemplated hereby. The execution, delivery and performance
by each of Parent and Buyer of this Agreement and the documents to be delivered hereunder and the consummation of the transactions
contemplated hereby have been duly authorized by all requisite corporate action on the part of Parent or Buyer as applicable.
This Agreement and the documents to be delivered hereunder to which Parent or Buyer is a party have been duly executed and delivered
by such party, and (assuming due authorization, execution and delivery by Seller) this Agreement and the documents to be delivered
hereunder constitute legal, valid and binding obligations of such party enforceable against such party in accordance with their
respective terms, subject to the Enforceability Exceptions.

 

    12

     

    

 

Section
4.02No Conflicts; Consents. The execution, delivery and performance by Buyer of this Agreement and the documents to be
delivered hereunder, and the consummation of the transactions contemplated hereby, do not and will not: (a) violate or conflict
with the certificate of incorporation, by-laws or other organizational documents of Buyer or Parent; or (b) violate or conflict
with any judgment, order, decree, statute, law, ordinance, rule or regulation applicable to Buyer. Except as set forth in Schedule
4.02 of the Disclosure Schedules, no consent, approval, waiver or authorization is required to be obtained by Buyer from any
person or entity (including any governmental authority) in connection with the execution, delivery and performance by Buyer of
this Agreement and the consummation of the transactions contemplated hereby.

 

Section
4.03Solvency. After the Closing and after giving effect to this Agreement and the other transactions contemplated hereby,
each of Parent and Buyer expects and believes in good faith that it will not be insolvent (either because its financial condition
will be such that the sum of its debts is greater than the fair value of its assets or because the present fair salable value
of its assets would be less than the amount required to pay its probable liability on debts as they become absolute and matured).

 

Section
4.04Legal Proceedings. There is no Action of any nature pending or, to Buyer’s knowledge, threatened against or
by Buyer that challenges or seeks to prevent, enjoin or otherwise delay the transactions contemplated by this Agreement. No event
has occurred or circumstances exist that may give rise to, or serve as a basis for, any such Action.

 

Section
4.05Brokers. Except as set forth on Schedule 4.05 of the Disclosure Schedules, no broker, finder or investment
banker is entitled to any brokerage, finder’s or other fee or commission in connection with the transactions contemplated
by this Agreement based upon arrangements made by or on behalf of Buyer.

 

Section
4.06SEC Reports. Parent, since the initial public offering, has timely filed all forms, reports, schedules, statements,
registration statements, prospectuses and other documents required to be filed or furnished by Parent with the SEC under the Securities
Act of 1933, as amended (the “Securities Act”) and/or the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), together with any amendments, restatements or supplements thereto (all such filing, the “SEC
Reports”). The SEC Reports (x) were prepared in all material respects in accordance with the requirements of the Securities
Act and the Exchange Act, as the case may be, and the rules and regulations thereunder and (y) did not, as of their respective
effective dates (in the case of SEC Reports that are registration statements filed pursuant to the requirements of the Securities
Act) and at the time they were filed with the SEC (in the case of all other SEC Reports) contain any untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary in order to make the statements made therein,
in the light of the circumstances under which they were made, not misleading. As of the date hereof, there are no material outstanding
or unresolved comments in comment letters from the SEC staff with respect to Parent or the SEC Reports. As of the date hereof,
(i) none of the SEC Reports is the subject of ongoing SEC review or outstanding SEC comments and (ii) neither the SEC nor any
other governmental authority is conducting any investigation or review of any SEC Report.

 

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Section
4.07Trust Account. Parent has made available to the Company a true, correct and complete copy of the fully executed Investment
Management Trust Agreement (the “Trust Agreement”), dated as of February 11, 2020, by and between Parent and
Continental Stock Transfer & Trust Company, a New York corporation (the “Trustee”). Parent has at least
One Hundred Seventy-Two Million Five Hundred Thousand and 00/100 Dollars ($172,500,000) in the account established by Parent for
the benefit of certain stockholders of Parent (the “Trust Account”), with such funds invested in government
securities or money market funds meeting certain conditions pursuant to the Trust Agreement. The Trust Agreement is in full force
and effect and is a legal, valid and binding obligation of Parent and, to Parent’s knowledge, the Trustee, enforceable in
accordance with its terms, subject to the effect of any applicable bankruptcy, reorganization, insolvency, moratorium, fraudulent
conveyance or similar laws relating to or affecting creditors’ rights generally and subject, as to enforceability, to the
effect of general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at
law). The Trust Agreement has not been terminated, repudiated, rescinded, amended or supplemented or modified, in any respect,
and no such termination, repudiation, rescission, amendment, supplement or modification is contemplated. There are no side letters
and (except for the Trust Agreement) there are no agreements, contracts, arrangements or understandings, whether written or oral,
with the Trustee or any other person that would (i) cause the description of the Trust Agreement in the SEC Reports to be inaccurate
or (ii) entitle any person (other than holders of Parent common stock, par value $0.0001 per share (the “Parent Common
Stock” who have elected to redeem their Parent Common Stock in accordance with the Parent’s charter documents)
to any portion of the proceeds in the Trust Account. Except in connection with a Business Combination (as defined below) consummated
in accordance with all rules and regulations applicable to Parent, none of the funds held in the Trust Account may be released,
except to pay income and franchise taxes from any interest earned in the Trust Account and to redeem Parent Common Stock in accordance
with the provisions of Parent’s charter documents. There is no Action pending or threatened with respect to the Trust Account.

 

Section
4.08Independent Investigation. Buyer has conducted its own independent investigation, review and analysis of the Business
and the Purchased Assets, and acknowledges that it has been provided adequate access to the personnel, properties, assets, premises,
books and records, and other documents and data of Seller for such purpose. Buyer acknowledges and agrees that: (a) in making
its decision to enter into this Agreement and to consummate the transactions contemplated hereby, Buyer has relied solely upon
its own investigation and the express representations and warranties of Seller set forth in Article III of this Agreement
(including related portions of the Disclosure Schedules); and (b) neither Seller nor any other person or entity has made any representation
or warranty as to Seller, the Business, the Purchased Assets or this Agreement, except as expressly set forth in Article III
of this Agreement (including the related portions of the Disclosure Schedules).

 

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Section
4.09No Other Representations and Warranties. Except for the representations and warranties contained in this Article
IV (including the related portions of the Disclosure Schedules), none of Parent, Buyer, or any other person or entity has
made or makes any other express or implied representation or warranty, either written or oral, on behalf of Parent or Buyer, including
any representation or warranty as to the accuracy or completeness of any information regarding the Business and the Purchased
Assets furnished or made available to Buyer and its agents as to the future revenue, profitability or success of Buyer, or any
representation or warranty arising from statute or otherwise in law.

 

ARTICLE
V

COVENANTS

 

Section
5.01Employees and Employment.

 

		(a)	Effective
                                         as of the Closing, Seller shall terminate the employment of each of the employees listed
                                         on Schedule 3.14 of the Disclosure Schedules and pay all amounts due to such employees
                                         as of the Closing including salaries, benefits and severance, if any, owed to such employees
                                         at the time of termination. Buyer has or will offer employment to all of the employees
                                         of Seller set forth on Schedule 3.14 of the Disclosure Schedules for employment
                                         to be effective on the Closing (the employees of Seller who accept such employment and
                                         commence employment on the Closing, the “Transferred Employees”).
                                         The employees of Seller who are not offered employment with or who do not accept employment
                                         with Buyer shall be referred to herein as “Non-Transferred Employees.”
                                         Seller hereby consents to the hiring of such employees by Buyer and waives, with respect
                                         to the employment by Buyer of such employees, any claims or rights Seller may have against
                                         Buyer or any such employee under any non-competition, confidentiality or employment agreement.
                                         Buyer shall be liable and hold Seller harmless for any claims relating to the employment
                                         of any Transferred Employee arising after the Closing to the extent not attributable
                                         to their employment prior to the Closing.

 

		(b)	After
                                         the Closing, Buyer shall be solely responsible for the payment of all wages, salaries
                                         and other compensation and employee benefits (including any vacation pay, severance pay,
                                         notice pay, insurance, supplemental pension, deferred compensation, bonuses, retirement
                                         and any other benefits, premiums, claims and related costs) to any of the Transferred
                                         Employees relating to or arising out of their employment with Buyer or any of its affiliates.

 

		(c)	For
                                         the avoidance of doubt and notwithstanding anything in this Agreement, the United States
                                         Internal Revenue Code of 1986, as amended (the “Code”), Employee Retirement
                                         Income Security Act of 1974, as amended, or the treasury regulations promulgated under
                                         the Code, including any temporary regulations. (“Treasury Regulations”)
                                         to the contrary, if Seller and any entity that is considered a single employer with Seller
                                         under Section 414 of the Code cease to sponsor all employee benefit plans that are group
                                         health plans in connection with the transactions contemplated by this Agreement, Seller
                                         and Buyer hereby agree that the any “M&A qualified beneficiaries” as
                                         defined in Treasury Regulation Section 54.4890B-9, Q&A-4, shall be eligible to receive
                                         group health plan continuation or conversion coverage required under Section 4980B of
                                         the Code (the “Required COBRA Coverage”) under a group health plan
                                         of Buyer and that Seller shall have no liability whatsoever for providing the Required
                                         COBRA Coverage. To facilitate the provision of the Required COBRA Coverage to the “M&A
                                         qualified beneficiaries” and to provide insured group medical coverage to the Transferred
                                         Employees, Buyer shall establish an insured group medical plan that provides health and
                                         welfare benefits that are substantially similar, in the aggregate, to the benefits provided
                                         by Seller immediately prior to Closing. To prevent any gaps in health care coverage,
                                         the insured group health plan of Buyer shall be effective no later than the Closing Date
                                         and both the Non-Transferred Employees who are “M&A qualified beneficiaries”
                                         and Transferred Employees shall be eligible to participate in such plan immediately following
                                         the Closing.

 

		(d)	Notwithstanding
                                         anything in this Agreement to the contrary, no Transferred Employee, and no other employee
                                         or contractor of Seller, shall be deemed to be a third-party beneficiary of this Agreement.

 

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Section
5.02Public Announcements.

 

		(a)	The
                                         parties agree that no public release, filing or announcement concerning this Agreement
                                         or the Transaction Documents (as defined below) or the transactions contemplated hereby
                                         or thereby shall be issued by any party or any of their respective affiliates without
                                         the prior written consent (not be unreasonably withheld, conditioned or delayed) of Parent,
                                         Buyer and Seller, except as such release or announcement may be required by applicable
                                         laws or the rules or regulations of any securities exchange, in which case the applicable
                                         party shall use commercially reasonable efforts to allow Parent, Buyer and Seller reasonable
                                         time to comment on, and arrange for any required filing with respect to, such release
                                         or announcement in advance of such issuance.

 

		(b)	Parent
                                         and Seller shall mutually agree upon and, as promptly as practicable after the execution
                                         of this Agreement, issue a press release announcing the execution of this Agreement (the
                                         “Signing Press Release”). Promptly after the issuance of the Signing
                                         Press Release (but in any event within four (4) business days after the execution of
                                         this Agreement), Parent shall file a current report on Form 8-K (the “Signing
                                         Filing”) with the Signing Press Release and a description of this Agreement
                                         as required by applicable laws, which Seller shall review, comment upon and approve (which
                                         approval shall not be unreasonably withheld, conditioned or delayed) prior to filing
                                         (with Seller reviewing, commenting upon and approving such Signing Filing in any event
                                         no later than the third (3rd) business day after the execution of this Agreement).
                                         Parent and Seller shall mutually agree upon and, as promptly as practicable after the
                                         Closing, issue a press release announcing the consummation of the transactions contemplated
                                         by this Agreement (the “Closing Press Release”). Promptly after the
                                         issuance of the Closing Press Release (but in any event within four (4) business days
                                         after the Closing), Parent shall file a current report on Form 8-K (the “Closing
                                         Filing”) with the Closing Press Release and a description of the Closing as
                                         required by applicable laws which Seller shall review, comment upon and approve (which
                                         approval shall not be unreasonably withheld, conditioned or delayed) prior to filing
                                         (with the Selling Securityholders’ Representative commenting upon and approving
                                         such Closing Filing in any event no later than the third (3rd) business day
                                         after the Closing). In connection with the preparation of the Signing Press Release,
                                         the Signing Filing, the Closing Filing, the Closing Press Release, or any other report,
                                         statement, filing notice or application made by or on behalf of a party to any governmental
                                         authority or other third party in connection with the transactions contemplated hereby,
                                         each party shall, upon request by any other party, furnish the parties with all information
                                         concerning themselves, their respective directors, officers and equity holders as may
                                         be necessary in connection with the preparation of such report, statement, filing notice
                                         or application, and such other matters as may be reasonably necessary or advisable in
                                         connection with the transactions contemplated hereby.

 

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Section
5.03Bulk Sales Laws. The parties hereby waive compliance with the provisions of any bulk sales, bulk transfer or similar
laws of any jurisdiction (“Bulk Sales Laws”) that may otherwise be applicable with respect to the sale of any
or all of the Purchased Assets to Buyer.

 

Section
5.04Transfer Taxes. All transfer, documentary, sales, use, stamp, registration, value added and other such Taxes and fees
(including any penalties and interest) incurred in connection with this Agreement and the documents to be delivered hereunder
shall be borne by Seller when due. Seller shall, at its own expense, timely file any Tax return or other document with respect
to such Taxes or fees (and Buyer shall cooperate with respect thereto as necessary).

 

Section
5.05Further Assurances. Following the Closing, each of the parties hereto shall execute and deliver such additional documents,
instruments, conveyances and assurances and take such further actions as may be reasonably required to carry out the provisions
hereof and give effect to the transactions contemplated by this Agreement and the documents to be delivered hereunder.

 

Section
5.06Confidentiality. From and after the Closing, Seller shall, and shall cause its affiliates to, hold, and shall use
its reasonable best efforts to cause its or their respective directors, officers, employees, consultants, accountants, and other
agents (“Representatives”) to hold, in confidence any and all information, whether written or oral, concerning
the Business, except to the extent that Seller, can show that such information: (a) is generally available to and known by the
public through no fault of Seller, its affiliates or their respective Representatives, (b) is lawfully acquired by Seller, its
affiliates or their respective Representatives from and after the Closing from sources which are not prohibited from disclosing
such information by a legal, contractual, or fiduciary obligation or (c) as reasonably necessary to protect and preserve Seller’s
rights under this Agreement or the Secured Note. If Seller, its affiliates, or any of their respective Representatives are compelled
to disclose any information by governmental order or law, Seller shall promptly notify Buyer in writing and shall disclose only
that portion of such information which is legally required to be disclosed, provided that Seller shall use reasonable best efforts
to obtain as promptly as possible an appropriate protective order or other reasonable assurance that confidential treatment will
be accorded such information. Each party acknowledges that the Multi-Party Nondisclosure Agreement, dated as of November 23, 2020
by and among Seller, Buyer and the other parties thereto shall remain in full force and effect until the Closing.

 

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Section
5.07Interim Operations of the Business. Prior to the Closing, except as otherwise provided in this Agreement or consented
to in writing by Buyer (which consent shall not be unreasonably withheld or delayed), Seller shall operate the Business in good
faith in the ordinary course of business, using reasonable efforts to maintain and preserve intact the current Business and operations
and to preserve the rights, goodwill and relationships of its employees, customers, lenders, vendors, and others having relationships
with the Business.

 

Section
5.08Government Approvals. Each party hereto shall, as promptly as possible, use its reasonable best efforts to obtain,
or cause to be obtained, all consents, authorizations, orders and approvals from all governmental authorities that may be or become
necessary for its execution and delivery of this Agreement and the performance of its obligations pursuant to this Agreement and
the other Transaction Documents. Each party shall cooperate fully with the other party and its affiliates in promptly seeking
to obtain all such consents, authorizations, orders and approvals.

 

Section
5.09Customer and Other Business Relationships. After the Closing, for a period of three (3) months, Seller will cooperate
with Buyer in Buyer’s efforts to continue and maintain those business relationships of Seller existing prior to the Closing
and relating to the Business, including relationships with lessors, employees, regulatory authorities, licensors, customers, suppliers
and others; such cooperation not to exceed twenty (20) hours per week of services provided by employees or affiliates of Seller.
Seller will satisfy the Excluded Liabilities in a manner that is not detrimental to the Business or the relationships. Seller
will refer to Buyer all inquiries relating to the Business.

 

Section
5.10Retention of and Access to Records. After the Closing Date, Buyer shall retain for a period consistent with Buyer’s
record-retention policies and practices those records of Seller delivered to Buyer. Buyer also shall provide Seller and their
representatives reasonable access thereto, during normal business hours and on at least three (3) days’ prior written notice,
to enable them to prepare financial statements or Tax returns or deal with Tax audits. After the Closing Date, Seller shall provide
Buyer and its Representatives reasonable access to records that are Excluded Assets, during normal business hours and on at least
three (3) days’ prior written notice, for any reasonable business purpose specified by Buyer in such notice.

 

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Section
5.11Proxy Statement; Parent Stockholders’ Meeting.

 

		(a)	As
                                         promptly as reasonably practicable after the date of this Agreement, Parent shall, in
                                         consultation with Seller, prepare and file with the SEC a preliminary proxy statement
                                         (the “Proxy Statement”) relating to the transactions contemplated
                                         by this Agreement to be used for soliciting proxies from Parent’s stockholders
                                         to obtain the requisite approval of the transactions contemplated hereby and the other
                                         matters to be voted on at a meeting of the Parent’s stockholders to be called and
                                         held for such purpose (the “Parent Stockholders’ Meeting”) and
                                         to provide Parent’s stockholders an opportunity in accordance with Parent’s
                                         organizational documents to have their securities redeemed (the “Redemption”).
                                         Parent or Buyer, as applicable, shall notify Seller promptly upon the receipt of any
                                         comments from the SEC or its staff and of any request by the SEC or its staff or any
                                         other governmental authority for amendments or supplements to the Proxy Statement or
                                         any other SEC Reports required by the transactions contemplated hereby or for additional
                                         information. As promptly as practicable after receipt thereof, Parent or Buyer, as applicable,
                                         shall provide Seller and its counsel with copies of all written correspondence between
                                         Parent, Buyer or any of their representatives, on the one hand, and the SEC, or its staff
                                         or other government officials, on the other hand, with respect to the Proxy Statement
                                         or any other SEC Reports required by the transactions contemplated by this Agreement.
                                         Parent and Buyer shall permit Seller and its counsel to review the Proxy Statement and
                                         any exhibits, amendments or supplements thereto and shall consult with Seller and its
                                         advisors, in good faith, concerning any comments from the SEC with respect thereto, and
                                         shall reasonably consider and take into account the reasonable suggestions, comments
                                         or opinions of Seller and its advisors, and shall not file the Proxy Statement or any
                                         exhibits, amendments or supplements thereto or any response letters to any comments from
                                         the SEC without the prior written consent of Seller, such consent not to be unreasonably
                                         withheld, conditioned or delayed; provided, however, that Parent or Buyer, as applicable,
                                         shall be permitted to make such filing or response in the absence of such consent if
                                         the basis of Seller’s failure to consent is Seller’s unwillingness to permit
                                         the inclusion in such filing or response of information that, based on the advice of
                                         outside counsel to Buyer, is required by the SEC and United States securities laws to
                                         be included therein. Whenever any event occurs which would reasonably be expected to
                                         result in the Proxy Statement containing any untrue statement of a material fact or omitting
                                         to state a material fact necessary in order to make the statements made, in light of
                                         the circumstances under which they were made, not misleading, Parent, Buyer or Seller,
                                         as the case may be, shall promptly inform the other parties of such occurrence and cooperate
                                         in filing with the SEC or its staff or any other government officials, and/or mailing
                                         to stockholders of Parent, an amendment or supplement to the Proxy Statement.

 

		(b)	The
                                         Proxy Statement will be sent to Parent’s stockholders as soon as practicable following
                                         the date on which the SEC has confirmed that it has no further comments on the Proxy
                                         Statement (but in any event, within five (5) Business Days following such date) for the
                                         purpose of soliciting proxies from its stockholders to vote at the Parent Stockholders’
                                         Meeting in favor of: (i) the adoption of this Agreement and the approval of the transactions
                                         contemplated hereby; (ii) approval of amendments to Parent’s organizational documents;
                                         (iii) approval of any other transactions expected to close in connection with the Closing
                                         hereof; (iv) approval of such other actions as Parent and Buyer deem necessary; and (v)
                                         the adjournment of the Parent Stockholders’ Meeting (the matters described in clauses
                                         (i) through (v), shall be referred to as the “Voting Matters” and
                                         approval of the Voting Matters by the stockholders of Parent at the Parent Stockholders’
                                         Meeting or any postponement or adjournment thereof shall be referred to as the “Parent
                                         Stockholder Approval”). Parent shall keep Seller reasonably informed regarding
                                         all matters relating to the Voting Matters and the Parent Stockholders’ Meeting,
                                         including by promptly furnishing any voting or proxy solicitation reports received by
                                         Parent in respect of such matters and similar updates regarding the Redemption.

 

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		(c)	Seller
                                         shall provide Parent and Buyer, as promptly as reasonably practicable, with such information
                                         concerning Seller as may be necessary for the Proxy Statement and the other required
                                         SEC Reports to comply with all applicable provisions of and rules under the Securities
                                         Act, the Exchange Act and other applicable law in connection with the preparation, filing
                                         and distribution of the Proxy Statement, the solicitation of proxies thereunder, the
                                         calling and holding of the Parent Stockholders’ Meeting and the preparation and
                                         filing of any other required SEC Reports.

 

		(d)	Subject
                                         to the fiduciary duties of its board of directors (i) Parent shall include in the Proxy
                                         Statement the unanimous recommendation of its board of directors that its stockholders
                                         vote in favor of the adoption of this Agreement and the approval of the transactions
                                         contemplated hereby, and shall otherwise take all lawful action to solicit and obtain
                                         the Parent Stockholder Approval and (ii) neither Parent’s board of directors nor
                                         any committee thereof shall withdraw or modify, or publicly propose or resolve to withdraw
                                         or modify in a manner adverse to Seller, the recommendation of Parent’s board of
                                         directors that the stockholders of Parent vote in favor of the Voting Matters.

 

Section
5.12Further Assurances. The parties shall cooperate reasonably with each other and with their respective representatives
in connection with any steps required to be taken as part of their respective obligations under this Agreement, and shall (a)
furnish upon request to each other such further information; (b) execute and deliver to each other such other documents; and (c)
do such other acts and things, all as the other party may reasonably request for the purpose of carrying out the intent of this
Agreement and the transactions contemplated hereunder and hereby. Without limiting the foregoing, prior to the filing of the Proxy
Statement Seller shall deliver to Parent all financial statements required to be included in the Proxy Statement under the applicable
rules and regulations of the SEC, unaudited financial statements for any subsequent periods and such other financial information
required to be included in the Proxy Statement or subsequent filings with the Securities and Exchange Commission.

 

ARTICLE
VI

CONDITIONS TO CLOSING

 

Section
6.01Conditions to Obligations of All Parties. The obligations of each party to consummate the transactions contemplated
by this Agreement shall be subject to the fulfillment, at or prior to the Closing, of each of the following conditions:

 

		(a)	This
                                         Agreement will have been duly adopted through the receipt of the Parent Stockholder Approval.

 

		(b)	No
                                         injunction or restraining order shall have been issued by any governmental authority,
                                         and be in effect, that restrains or prohibits any transaction contemplated hereby.

 

		(c)	No
                                         governmental authority having jurisdiction over any party hereto shall have enacted,
                                         issued, promulgated, enforced, or entered any laws or orders, whether temporary, preliminary,
                                         or permanent, that make illegal, enjoin, or otherwise prohibit consummation of the transactions
                                         contemplated herein.

 

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		(d)	All
                                         consents, approvals and other authorizations of any governmental authority set forth
                                         in Schedule 3.02 of the Disclosure Schedules or Schedule 4.02 of the Disclosure
                                         Schedules and required to consummate the transactions contemplated herein shall have
                                         been obtained, free of any condition that would reasonably be expected to have a material
                                         adverse effect on any party.

 

Section
6.02The obligations of Buyer to consummate the transactions contemplated by this Agreement shall be subject to the fulfillment
or Buyer’s waiver, at or prior to the Closing, of each of the following conditions:

 

		(a)	The
                                         representations and warranties of Seller contained in Article III shall be true
                                         and correct in all respects as of the Closing Date with the same effect as though made
                                         at and as of such date (except those representations and warranties that address matters
                                         only as of a specified date, which shall be true and correct in all respects as of that
                                         specified date), except where the failure of such representations and warranties to be
                                         true and correct would not have a material adverse effect.

 

		(b)	Seller
                                         shall have duly performed and complied in all material respects with all agreements,
                                         covenants and conditions required by this Agreement and each of the other deliverables
                                         pursuant to Section 2.02(a) (and together with the deliverables in Section
                                         2.02(b)(ii)-(v), the “Transaction Documents”) to be performed
                                         or complied with by it prior to or on the Closing Date.

 

		(c)	Seller
                                         shall have delivered to Buyer duly executed counterparts to the Transaction Documents
                                         (other than this Agreement) and such other documents and deliveries set forth in Section
                                         2.02(a).

 

		(d)	Buyer
                                         shall have received a certificate, dated the Closing Date and signed by a duly authorized
                                         officer of Seller, that each of the conditions set forth in Section 6.02(a) and
                                         Section 6.02(b) have been satisfied.

 

		(e)	Buyer
                                         shall have received a certificate of the Secretary or an Assistant Secretary (or equivalent
                                         officer) of Seller certifying that attached thereto are true and complete copies of all
                                         resolutions adopted by the manager of Seller authorizing the execution, delivery and
                                         performance of this Agreement and the other Transaction Documents and the consummation
                                         of the transactions contemplated hereby and thereby, and that all such resolutions are
                                         in full force and effect and are all the resolutions adopted in connection with the transactions
                                         contemplated hereby and thereby.

 

		(f)	Buyer
                                         shall have received a certificate pursuant to Treasury Regulations Section 1.1445-2(b)
                                         that Seller is not a foreign person within the meaning of Section 1445 of the Code duly
                                         executed by Seller.

 

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		(g)	If
                                         after giving effect to the completion of the Redemption and any financings undertaken
                                         by Parent in connection with the Closing, Parent shall have net tangible assets of less
                                         than Seventy Million Dollars ($70,000,000).

 

		(h)	Since
                                         the date of this Agreement, Seller shall not have suffered a Material Adverse Effect.

 

For
purposes hereof, a Material Adverse Effect means a change, effect, event, occurrence or circumstance, whether known or unknown,
that is, individually or in the aggregate, materially adverse to the business, condition (financial or other), operations, results
of operations, Purchased Assets, taken as a whole; provided, however, that in no event shall any of the following
be deemed, either alone or in combination, to constitute, nor shall any of the following be taken into account in determining
whether there has been, a Material Adverse Effect (except to the extent, in the case of clauses (i) and (ii) below, they have
a disproportionate effect on Seller, taken as a whole, as compared to the other companies in the industry in which Seller operates):
(i) changes in conditions in the U.S. or global economy, capital or financial markets generally, including, without limitation,
changes in interest or exchange rates, (ii) changes in legal, tax, regulatory, political or business conditions that, in each
case, generally affect the geographic regions or industries in which Seller conducts business, (iii) the negotiation, execution,
announcement or performance of this Agreement or the transactions contemplated hereby or the consummation of the transactions
contemplated by this Agreement, including, without limitation, the impact thereof on relationships, contractual or otherwise,
with customers, suppliers, distributors, landlords, tenants, lenders, investors or employees, (iv) acts of war, armed hostilities,
sabotage or terrorism, or any escalation or worsening of any such acts of war, armed hostilities, sabotage or terrorism that do
not disproportionately affect Seller, (v) any pandemic, epidemic or any publicly declared health emergency; (vi) any action taken
by Seller at the request of Parent or (vii) any failure to meet internal or published projections, estimates or forecasts of revenues,
earnings, or other measures of financial or operating performance for any period (provided that the underlying changes, events,
circumstances, conditions or effects that contributed to such failure may be being taken into account in determining whether such
failure has resulted in a Material Adverse Effect).

 

Section
6.03Conditions to Obligations of Seller. The obligations of Seller to consummate the transactions contemplated by this
Agreement shall be subject to the fulfillment or Seller’s waiver, at or prior to the Closing, of each of the following conditions:

 

		(a)	The
                                         representations and warranties of Buyer contained in Article IV shall be true
                                         and correct in all respects as of the Closing Date with the same effect as though made
                                         at and as of such date (except those representations and warranties that address matters
                                         only as of a specified date, which shall be true and correct in all respects as of that
                                         specified date), except where the failure of such representations and warranties to be
                                         true and correct would not have a material adverse effect on Buyer’s ability to
                                         consummate the transactions contemplated hereby.

 

		(b)	Buyer
                                         shall have duly performed and complied in all material respects with all agreements,
                                         covenants and conditions required by this Agreement and each of the other Transaction
                                         Documents to be performed or complied with by it prior to or on the Closing Date.

 

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		(c)	Buyer
                                         shall have delivered to Seller duly executed counterparts to the Transaction Documents
                                         (other than this Agreement) and such other documents and deliveries set forth in Section
                                         2.02(b).

 

		(d)	Seller
                                         shall have received a certificate, dated the Closing Date and signed by a duly authorized
                                         officer of Buyer, that each of the conditions set forth in Section 6.03(a) and
                                         Section 6.03(b) have been satisfied.

 

		(e)	Seller
                                         shall have received certificates of the Secretary or an Assistant Secretary (or equivalent
                                         officer) of each of Parent and Buyer certifying that attached thereto are true and complete
                                         copies of all resolutions adopted by the board of directors of Parent or Buyer as applicable
                                         authorizing the execution, delivery and performance of this Agreement and the other Transaction
                                         Documents and the consummation of the transactions contemplated hereby and thereby, and
                                         that all such resolutions are in full force and effect and are all the resolutions adopted
                                         in connection with the transactions contemplated hereby and thereby.

 

ARTICLE
VII

INDEMNIFICATION

 

Section
7.01Survival. All representations, warranties, covenants and agreements contained herein and all related rights to indemnification
shall survive the Closing for a period of eighteen (18) months provided, however, that claims based on the representations and
warranties set forth in Section 3.01, Section 3.02, Section 3.03, Section 4.01, Section 4.02
and Section 4.05 (collectively, the “Fundamental Representations”) shall survive the Closing and shall
continue for a period of six (6) years plus thirty (30) days.

 

Section
7.02Indemnification by Seller. Seller shall defend, indemnify and hold harmless Parent, and its affiliates (including
Buyer) and their respective equity holders, directors, officers and employees from and against all claims, judgments, damages,
liabilities, settlements, losses, costs and expenses, including reasonable attorneys’ fees and documented disbursements
(“Losses”) arising from or relating to:

 

		(a)	any
                                         inaccuracy in or breach of any of the representations or warranties of Seller contained
                                         in this Agreement or any document to be delivered hereunder;

 

		(b)	any
                                         breach or non-fulfillment of any covenant, agreement or obligation to be performed by
                                         Seller pursuant to this Agreement or any document to be delivered hereunder; or

 

		(c)	any
                                         Excluded Asset or Excluded Liability.

 

Section
7.03Indemnification By Buyer. Buyer and Parent shall jointly and severally defend, indemnify and hold harmless Seller,
its affiliates and their respective equity holders, directors, officers and employees from and against all Losses, arising from
or relating to:

 

		(a)	any
                                         inaccuracy in or breach of any of the representations or warranties of Buyer or Parent
                                         contained in this Agreement or any document to be delivered hereunder;

 

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		(b)	any
                                         breach or non-fulfillment of any covenant, agreement or obligation to be performed by
                                         Buyer or Parent pursuant to this Agreement or any document to be delivered hereunder;
                                         or

 

		(c)	any
                                         Assumed Liability.

 

Section
7.04Indemnification Procedures.

 

		(a)	The
                                         party making a claim under this Article VII is referred to as the “Indemnified
                                         Party”, and the party against whom such claims are asserted under this Article
                                         VII is referred to as the “Indemnifying Party”.

 

		(b)	Whenever
                                         an Action made or brought by any person who is not party to this Agreement (a “Third-Party
                                         Claim”) shall arise for indemnification hereunder, the Indemnified Party shall
                                         promptly provide written notice of such Third-Party Claim to the Indemnifying Party.
                                         Such notice by the Indemnified Party shall describe the Third-Party Claim in reasonable
                                         detail, shall include copies of all material written evidence thereof and shall indicate
                                         the estimated amount, if reasonably practicable, of the Loss that has been or may be
                                         sustained by the Indemnified Party. In connection with any Third-Party Claim giving rise
                                         to indemnity hereunder resulting from or arising out of any Action by a person or entity
                                         who is not a party to this Agreement, the Indemnifying Party, at its sole cost and expense
                                         and upon written notice to the Indemnified Party, may assume the defense of any such
                                         Action and the Indemnified Party shall cooperate in good faith in such defense. The Indemnified
                                         Party shall be entitled to participate in the defense of any such Action, with its counsel
                                         and at its own cost and expense. In the event that the Indemnifying Party assumes the
                                         defense of any Third-Party Claim, subject to this Section 7.04, it shall have
                                         the right to take such action as it deems necessary to avoid, dispute, defend, appeal
                                         or make counterclaims pertaining to any such Third-Party Claim in the name and on behalf
                                         of the Indemnified Party. If the Indemnifying Party does not assume the defense of any
                                         such Action, the Indemnified Party may, but shall not be obligated to, defend against
                                         such Action in such manner as it may deem appropriate, including, but not limited to,
                                         settling such Action, after giving notice of it to the Indemnifying Party, on such terms
                                         as the Indemnified Party may deem appropriate and no action taken by the Indemnified
                                         Party in accordance with such defense and settlement shall relieve the Indemnifying Party
                                         of its indemnification obligations herein provided with respect to any damages resulting
                                         therefrom. The Indemnifying Party shall not settle any Action without the Indemnified
                                         Party’s prior written consent (which consent shall not be unreasonably withheld
                                         or delayed). Seller, Buyer and Parent shall cooperate with each other in all reasonable
                                         respects in connection with the defense of any Third-Party Claim, including making available
                                         (subject to the provisions of Section 5.06) records relating to such Third-Party
                                         Claim and furnishing, without expense (other than reimbursement of actual out-of-pocket
                                         expenses) to the defending party, management employees of the non-defending party as
                                         may be reasonably necessary for the preparation of the defense of such Third-Party Claim.

 

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		(c)	Notwithstanding
                                         any other provision of this Agreement, the Indemnifying Party shall not enter into settlement
                                         of any Third-Party Claim without the prior written consent of the Indemnified Party (which
                                         consent shall not be unreasonably withheld, conditioned or delayed), except as provided
                                         in this Section 7.04(c). If a firm offer is made to settle a Third-Party Claim without
                                         leading to liability or the creation of a financial or other obligation on the part of
                                         the Indemnified Party and provides, in customary form, for the unconditional release
                                         of each Indemnified Party from all liabilities and obligations in connection with such
                                         Third-Party Claim and the Indemnifying Party desires to accept and agree to such offer,
                                         the Indemnifying Party shall give written notice to that effect to the Indemnified Party.
                                         If the Indemnified Party fails to consent to such firm offer within ten (10) days after
                                         its receipt of such notice, the Indemnified Party may continue to contest or defend such
                                         Third-Party Claim and in such event, the maximum liability of the Indemnifying Party
                                         as to such Third-Party Claim shall not exceed the amount of such settlement offer. If
                                         the Indemnified Party fails to consent to such firm offer and also fails to assume defense
                                         of such Third-Party Claim, the Indemnifying Party may settle the Third-Party Claim upon
                                         the terms set forth in such firm offer to settle such Third-Party Claim. If the Indemnified
                                         Party has assumed the defense pursuant to Section 7.04(b), it shall not agree
                                         to any settlement without the written consent of the Indemnifying Party (which consent
                                         shall not be unreasonably withheld, conditioned or delayed).

 

		(d)	Any
                                         claim by an Indemnified Party on account of a Loss which does not result from a Third-Party
                                         Claim (a “Direct Claim”) shall be asserted by the Indemnified Party
                                         giving the Indemnifying Party prompt written notice thereof. The failure to give such
                                         prompt written notice shall not, however, relieve the Indemnifying Party of its indemnification
                                         obligations, except and only to the extent that the Indemnifying Party forfeits rights
                                         or defenses by reason of such failure. Such notice by the Indemnified Party shall describe
                                         the Direct Claim in reasonable detail, shall include copies of all material written evidence
                                         thereof and shall indicate the estimated amount, if reasonably practicable, of the Loss
                                         that has been or may be sustained by the Indemnified Party. The Indemnifying Party shall
                                         have thirty (30) days after its receipt of such notice to respond in writing to such
                                         Direct Claim. During such thirty (30)-day period, the Indemnified Party shall allow the
                                         Indemnifying Party and its professional advisors to investigate the matter or circumstance
                                         alleged to give rise to the Direct Claim, and whether and to what extent any amount is
                                         payable in respect of the Direct Claim and the Indemnified Party shall assist the Indemnifying
                                         Party’s investigation by giving such information and assistance (including access
                                         to the Indemnified Party’s premises and personnel and the right to examine and
                                         copy any accounts, documents or records) as the Indemnifying Party or any of its professional
                                         advisors may reasonably request. If the Indemnifying Party does not so respond within
                                         such thirty (30)-day period, the Indemnifying Party shall be deemed to have rejected
                                         such claim, in which case the Indemnified Party shall be free to pursue such remedies
                                         as may be available to the Indemnified Party on the terms and subject to the provisions
                                         of this Agreement.

 

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Section
7.05No Claim Against Trust Account. Reference is made to the final prospectus of Parent, dated as of February 10, 2020,
and filed with the SEC (File No. 333-235724) on February 10, 2020 (the “Prospectus”). Except as otherwise described
in the Prospectus, monies from the Trust Account may be disbursed only: (a) to the public stockholders in the event they elect
to redeem their Parent shares in connection with the consummation of Parent’s initial business combination (the “Business
Combination”), (b) to the public stockholders if Parent fails to consummate a Business Combination within eighteen (18)
months after the closing of the IPO (which time period may be extended as described in the Prospectus), (c) with respect to any
interest earned on the amounts held in the Trust Account, as necessary to pay income or other tax obligations, or (d) to Parent
after or concurrently with the consummation of a Business Combination. For and in consideration of Parent entering into this Agreement,
and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Seller hereby agrees
on behalf of itself and its affiliates that, notwithstanding anything to the contrary in this Agreement, neither the Company nor
any of its affiliates do now or shall at any time hereafter have any right, title, interest or claim of any kind in or to any
monies in the Trust Account or distributions therefrom, or make any claim against the Trust Account (including any distributions
therefrom), regardless of whether such claim arises as a result of, in connection with or relating in any way to, this Agreement
or any proposed or actual business relationship between Parent or its Representatives, on the one hand, and Seller or its Representatives,
on the other hand, or any other matter, and regardless of whether such claim arises based on contract, tort, equity or any other
theory of legal liability (any and all such claims are collectively referred to hereafter as the (“Released Claims”).
Unless specifically permitted by applicable law, Seller on behalf of itself and its affiliates hereby irrevocably waives any Released
Claims that Seller or any of its affiliates may have against the Trust Account (including any distributions therefrom) now or
in the future as a result of, or arising out of, any negotiations, contracts or agreements with Parent or its Representatives
and will not seek recourse against the Trust Account (including any distributions therefrom) for any reason whatsoever (including
for an alleged breach of any agreement with Parent or its affiliates). Seller agrees and acknowledges that such irrevocable wavier
is material to this Agreement and specifically relied upon by Parent and its affiliates to induce Parent to enter into this Agreement,
and Seller further intends and understands such waiver to be valid, binding and enforceable against Seller and each of its affiliates
under applicable law. To the extent Seller or any of its affiliates commences any action or proceeding based upon, in connection
with, relating to or arising out of any matter relating to Parent or its Representatives, which proceeding seeks, in whole or
in part, monetary relief against Parent or its Representatives, Seller hereby acknowledges and agrees that the sole remedy of
Seller and its affiliates shall be against funds held outside of the Trust Account and that such claim shall not permit Seller
or its affiliates (or any person claiming on any of their behalf or in lieu of any of them) to have any claim against the Trust
Account (including any distributions therefrom) or any amounts contained therein. In the event Seller or any of its affiliates
commences any action or proceeding based upon, in connection with, relating to or arising out of any matter relating to Parent
or its Representatives, which proceeding seeks, in whole or in part, relief against the Trust Account (including any distributions
therefrom) or Parent’s public stockholders, whether in the form of money damages or injunctive relief, Parent and its Representatives,
as applicable, shall be entitled to recover from Seller and its affiliates the associated legal fees and costs in connection with
any such action, in the event Parent or its Representatives, as applicable, prevails in such action or proceeding.

 

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Section
7.06Certain Limitations. The indemnification provided for in Section 7.02 and Section 7.03 shall be subject
to the following limitations:

 

		(a)	The
                                         amount of any and all indemnifiable Losses shall be determined net of any amounts actually
                                         recovered by the Indemnified Party under insurance policies or other collateral sources
                                         (such as contractual indemnities of any Indemnified Party which are contained outside
                                         of this Agreement) with respect to such Losses (net of any costs of recovery, insurance
                                         deductibles, chargebacks and to the extent reasonably quantifiable, increases in insurance
                                         premiums resulting from such insurance claim).

 

		(b)	Neither
                                         party shall be liable for any Losses pursuant to Section 7.02 unless and until
                                         the aggregate amount of such Losses pursuant to Section 7.02 exceeds One Hundred
                                         Thousand and 00/100 Dollars ($100,000) (the “Deductible”); provided
                                         that if the aggregate amount of such Losses (limited as provided in Section 7.06)
                                         pursuant to Section 7.02 equals or exceeds the Deductible, the Indemnified Party
                                         shall be entitled to recover those Losses beginning from the first dollar of such Losses,
                                         subject to the limitations in Section 7.05(c); provided, however, that the Deductible
                                         shall not apply to, and such party shall be responsible for one hundred percent (100%)
                                         of, Losses attributable to any outstanding Taxes or litigation disclosed on the Disclosure
                                         Schedules.

 

		(c)	The
                                         aggregate amount of all Losses for which Seller shall be liable pursuant to Section
                                         7.02, shall not exceed Seven Million Five Hundred Thousand and 00/100 Dollars ($7,500,000).

 

		(d)	Notwithstanding
                                         the foregoing, the limitations set forth in Section 7.06(b) and 7.06(c)
                                         shall not apply to Losses based upon, arising out of, with respect or, or by reason of
                                         any inaccuracy in or breach of any Fundamental Representation made by Seller.

 

Section
7.07Payment of Indemnification. Parent and Buyer agree that for any indemnification payment owed by Seller to Buyer, such
amounts shall (i) first be settled by offset against amounts otherwise payable to Seller pursuant to the Secured Note as provided
in Section 7.08, and (ii) second, if there are insufficient amounts to make indemnification payments from the Secured Note,
then within five (5) days of receipt of notice from Parent setting forth the shortfall between the amounts payable pursuant to
the Secured Note and the indemnification payment (the “Shortfall”), Seller shall cause to be wired to Parent
or Buyer, as instructed by Parent, an amount equal to the Shortfall. In the event Seller shall fail to pay the Shortfall as set
forth in this Section 7.07, the amount of any Shortfall shall bear interest from and including the applicable due date
at a rate of eight percent (8%) per annum. Such interest shall be calculated daily on the basis of a 365-day year and the actual
number of days elapsed. Any indemnification payment owed by Buyer to Seller shall be paid by Buyer or Parent within five (5) days
of receipt of notice from Seller containing a final, non-appealable judgment setting forth the indemnification amount by wire
transfer using the wire instructions and other directions set forth on Schedule 1.04(a) of the Disclosure Schedules, or
such other wire instructions as Seller may be provide to Buyer.

 

    27

     

    

 

Section
7.08Offset Against Promissory Note. In the event that Seller becomes obligated to Parent pursuant to an indemnification
claim made by Parent against Seller under this Article VII or under any other sections of this Agreement, Parent shall
have the right to make offset against amounts due Parent under the Secured Note, provided, however, that Seller can avoid any
such offset, at Seller’s election, by making payment to Parent in cash of the full amount owed to Parent within five (5)
days after receiving written notice from Parent that Parent intends to make such offset (the “Offset Notice”).
Notwithstanding the foregoing, prior to Parent making an offset against amounts due from Seller under the Secured Note, Parent
shall first deliver an Offset Notice to Seller at least fifteen (15) days prior to the effective date of any offset, which notice
shall state the effective date of such offset and provide a summary of the reasons why such offset is being made. During the ten
(10) day period commencing on the date the Offset Notice is delivered to Seller (the “Objection Period”), Seller
shall be given the reasonable opportunity by Parent if appropriate under the facts and circumstances, to make a reasonable attempt
to cure the situation giving rise to the offset claim and to state, in a writing delivered to Parent prior to the end of the Objection
Period, the reasons why Seller objects to such offset (the “Offset Objection Notice”). Parent, in its reasonable
discretion, may also agree to have its representatives meet with Seller’s representatives, during the Objection Period,
to further discuss Seller’s reasons set forth in the Offset Objection Notice. At the end of Objection Period, Parent, in
its sole discretion, may: (1) either accept or partially accept such reasons, and modify or reverse its decision to cause an offset
to be made, or (2) reject such reasons and proceed with making the offset as of the effective date set forth in the Offset Notice
but in any event will give Seller a response, provided, however, that in the event Parent makes an offset to which Seller has
timely objected by delivery of an Offset Objection Notice to Parent within the Objection Period, any such offset may be disputed
by Seller in an action commenced under Section 9.11 hereof, with such offset confirmed, modified or reversed in accordance
with the dispute resolution procedures set forth in Section 9.11 hereof.

 

Section
7.09Tax Treatment of Indemnification Payments. All indemnification payments made by Seller under this Agreement shall
be treated by the parties as an adjustment to the Purchase Price for Tax purposes, unless otherwise agreed in writing by the parties.

 

Section
7.10Effect of Investigation. Buyer’s right to indemnification or other remedy based on the representations, warranties,
covenants and agreements of Seller contained herein will not be affected by any investigation conducted by Buyer with respect
to, or any knowledge acquired by Buyer at any time, with respect to the accuracy or inaccuracy of or compliance with, any such
representation, warranty, covenant or agreement.

 

Section
7.11Exclusive Remedies. Following the Closing, the provisions of this Article VII shall be the parties’ exclusive
remedy for any and all claims relating to the subject matter of this Agreement or any of the other documents to be delivered hereunder,
except for claims arising from intentional fraud, criminal activity or willful misconduct by the other party and claims for specific
performance or other equitable remedies.

 

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ARTICLE
VIII

TERMINATION

 

Section
8.01Termination. This Agreement may be terminated at any time prior to the Closing:

 

		(a)	by
                                         the mutual written consent of Seller and Buyer;

 

		(b)	by
                                         Buyer by written notice to Seller if:

 

		(i)	Buyer
                                         is not then in material breach of any provision of this Agreement and there has been
                                         a material breach, inaccuracy in or failure to perform any representation, warranty,
                                         covenant or agreement made by Seller pursuant to this Agreement that would give rise
                                         to the failure of any of the conditions specified in Article VI and such breach,
                                         inaccuracy or failure cannot be cured by Seller by August 31, 2021 (the “Drop
                                         Dead Date”); or

 

		(ii)	any
                                         of the conditions set forth in Section 6.01 or Section 6.02 shall not have
                                         been fulfilled by the Drop Dead Date, unless such failure shall be due to the failure
                                         of Buyer to perform or comply with any of the covenants, agreements or conditions hereof
                                         to be performed or complied with by it prior to the Closing;

 

		(c)	by
                                         Seller by written notice to Buyer if:

 

		(i)	Seller
                                         is not then in material breach of any provision of this Agreement and there has been
                                         a material breach, inaccuracy in or failure to perform any representation, warranty,
                                         covenant or agreement made by Buyer pursuant to this Agreement that would give rise to
                                         the failure of any of the conditions specified in Article VI and such breach,
                                         inaccuracy or failure cannot be cured by Buyer by the Drop Dead Date; or

 

		(ii)	any
                                         of the conditions set forth in Section 6.01 or Section 6.03 shall not have
                                         been fulfilled by the Drop Dead Date, unless such failure shall be due to the failure
                                         of Seller to perform or comply with any of the covenants, agreements or conditions hereof
                                         to be performed or complied with by it prior to the Closing; or

 

		(d)	by
                                         Buyer or Seller in the event that:

 

		(i)	there
                                         shall be any law or order that makes consummation of the transactions contemplated by
                                         this Agreement illegal or otherwise prohibited;

 

		(ii)	any
                                         governmental authority shall have issued an injunction, restraining order or any other
                                         order restraining or enjoining the transactions contemplated by this Agreement, and such
                                         order shall have become final and non-appealable.

 

Section
8.02Effect of Termination. In the event of the termination of this Agreement in accordance with this Article VIII,
this Agreement shall forthwith become void and there shall be no liability of any party hereto except:

 

		(a)	as
                                         set forth in this Article VIII, Section 5.06 and Article IX; and

 

		(b)	that
                                         nothing herein shall relieve any party hereto from liability for any intentional breach
                                         of any provision hereof.

  

    29

     

    

 

ARTICLE
IX

MISCELLANEOUS

 

Section
9.01Expenses. All costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby
shall be paid by the party incurring such costs and expenses.

 

Section
9.02Notices. All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in
writing and shall be deemed to have been given (a) when delivered by hand (with written confirmation of receipt); (b) when received
by the addressee if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by e-mail of a
PDF document (with confirmation of transmission) if sent during normal business hours of the recipient, and on the next business
day if sent after normal business hours of the recipient; or (d) on the third day after the date mailed, by certified or registered
mail, return receipt requested, postage prepaid. Such communications must be sent to the respective parties at the following addresses
(or at such other address for a party as shall be specified in a notice given in accordance with this Section 7.02):

 

If
to Seller:True Harvest, LLC

10768
E Acoma Dr.

Scottsdale,
AZ 85255

Attention:
Dieter Gable and Michael Macchiaroli

Email:
dgable@tbconsulting.com; cpwatson6@gmail.com; m.macc76@gmail.com

 

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

 

Snell
& Wilmer L.L.P.

350
South Grand Ave.

Suite
3100

Los
Angeles, CA 90071

Attention:
Joshua A. Schneiderman;

Christopher
H. Bayley

E-mail:
jschneiderman@swlaw.com; cbayley@swlaw.com

 

If
to Buyer:Greenrose Acquisition Corp.

111
Broadway

Amityville,
NY 11701

Attention:
William F. Harley III

E-mail:
mickey@greenrosecorp.com

 

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

 

Tarter
Krinsky & Drogin LLP

1350
Broadway

11th
Floor

New
York, NY 10018

Attention:
Guy N. Molinari

Email:
gmolinari@tarterkrinsky.com

 

    30

     

    

 

Section
9.03Headings. The headings in this Agreement are for reference only and shall not affect the interpretation of this Agreement.

 

Section
9.04Severability. If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction,
such invalidity, illegality or unenforceability shall not affect any other term or provision of this Agreement or invalidate or
render unenforceable such term or provision in any other jurisdiction.

 

Section
9.05Entire Agreement. This Agreement and the documents to be delivered hereunder constitute the sole and entire agreement
of the parties to this Agreement with respect to the subject matter contained herein, and supersede all prior and contemporaneous
understandings and agreements, both written and oral, with respect to such subject matter. In the event of any inconsistency between
the statements in the body of this Agreement and the documents to be delivered hereunder, the Exhibits and Disclosure Schedules
(other than an exception expressly set forth as such in the Disclosure Schedules), the statements in the body of this Agreement
will control.

 

Section
9.06Successors and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto
and their respective successors and permitted assigns. Neither party may assign its rights or obligations hereunder without the
prior written consent of the other party, which consent shall not be unreasonably withheld or delayed. No assignment shall relieve
the assigning party of any of its obligations hereunder.

 

Section
9.07No Third-party Beneficiaries. Except as provided in Article VII, this Agreement is for the sole benefit of
the parties hereto and their respective successors and permitted assigns and nothing herein, express or implied, is intended to
or shall confer upon any other person or entity any legal or equitable right, benefit or remedy of any nature whatsoever under
or by reason of this Agreement.

 

Section
9.08Amendment and Modification. This Agreement may only be amended, modified or supplemented by an agreement in writing
signed by each party hereto.

 

Section
9.09Waiver. No waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth in writing
and signed by the party so waiving. No waiver by any party shall operate or be construed as a waiver in respect of any failure,
breach or default not expressly identified by such written waiver, whether of a similar or different character, and whether occurring
before or after that waiver. No failure to exercise, or delay in exercising, any right, remedy, power or privilege arising from
this Agreement shall operate or be construed as a waiver thereof; nor shall any single or partial exercise of any right, remedy,
power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power
or privilege.

 

Section
9.10Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State
of Arizona without giving effect to any choice or conflict of law provision or rule (whether of the State of Arizona or any other
jurisdiction).

 

    31

     

    

 

Section
9.11Dispute Resolution. Any dispute, claim, or controversy arising out of or relating to this Agreement, or the performance,
breach, validity, interpretation, application, or termination thereof (“Dispute”) whether based on contract,
tort, statute or other legal or equitable theory (including any claim of fraud, misrepresentation or fraudulent inducement or
any question of validity or effect of this Agreement including this section) shall be settled by mediation and consultations between
the parties initiated upon the written notice (the “Mediation Notice”) of any party. In the event of failure
of such mediation and consultations to settle such Dispute in a manner acceptable to all parties within thirty (30) days following
the Mediation Notice, then any such Dispute shall be finally resolved by arbitration initiated upon the written notice of any
party. The arbitration shall be conducted in accordance with this Agreement and the then current American Arbitration Association
Commercial Arbitration Rules (the “AAA Rules”) applying the Expedited Procedures of such AAA Rules, and judgment
on the award may be entered in any court having jurisdiction thereof.

 

Section
9.12Waiver of Trial by Jury. THE PARTIES TO THIS AGREEMENT EACH HEREBY WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW,
ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION (I) ARISING UNDER THIS AGREEMENT OR (II) IN ANY WAY
CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES IN RESPECT OF THIS AGREEMENT OR ANY OF THE TRANSACTIONS
RELATED HERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER IN CONTRACT, TORT, EQUITY, OR OTHERWISE. THE
PARTIES TO THIS AGREEMENT EACH HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION SHALL BE DECIDED
BY COURT TRIAL WITHOUT A JURY AND THAT THE PARTIES MAY FILE AN ORIGINAL COUNTERPART OF A COPY OF THIS AGREEMENT WITH ANY COURT
AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY.

 

Section
9.13Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of
which together shall be deemed to be one and the same agreement. A signed copy of this Agreement delivered by e-mail or other
means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this
Agreement.

 

Section
9.14Cannabis. The parties recognize that cannabis manufacturing and distribution, and cannabis businesses, are illegal
under federal law, but are permitted under Arizona law if in compliance with Arizona statutes and regulations. The parties agree
not to raise any defense or make any argument against, the enforceability or performance of this Agreement based on the illegality
of cannabis under federal law, or the law of any other state.

  

[SIGNATURE
PAGE FOLLOWS]

  

    32

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date first written above by their
respective officers thereunto duly authorized.

  

	 	SELLER
	 	 
	 	TRUE HARVEST, LLC
	 	 
	 	By: 	/s/ Michael Macchiaroli
	 	Name: 	 Michael Macchiaroli
	 	Title: 	Manager
	 	 
	 	PARENT
	 	 
	 	GREENROSE ACQUISITION CORP.
	 	 
	 	 
	 	By: 	/s/ William F. Harley III
	 	Name: 	William F. Harley III
	 	Title:	 Chief Executive Officer
	 	 
	 	BUYER
	 	 
	 	TRUE HARVEST HOLDINGS, INC.
	 	 
	 	By: 	/s/ William F. Harley III
	 	Name: 	William F. Harley III
	 	Title: 	Chief Executive Officer

 

 [SIGNATURE
PAGE TO ASSET PURCHASE AGREEMENT

     

     

    

 

EXHIBIT
A

 

(Secured
Note)

 

     

     

    

 

SECURED
PROMISSORY NOTE

 

$25,000,000______________,
2021

 

1. FUNDAMENTAL
PROVISIONS.

 

The
following terms will be used as defined terms in this Secured Promissory Note (as it may be amended, modified, extended and renewed
from time to time, the “Note”) and certain of the other Loan Documents (as hereinafter defined):

 

“Borrower”
shall mean True Harvest Holdings, Inc., a Delaware corporation.

 

“Default
Interest Rate” shall mean 10.00% per annum above the Interest Rate.

 

“Guaranteed
Obligations” shall mean as defined in the Purchase Agreement.

 

“Guaranty”
shall mean Parent’s guaranty of the Guaranteed Obligations pursuant to Section 1.08 of the Purchase Agreement.

 

“Indebtedness”
shall mean, with respect to any Person, without duplication, (a) any obligation of such Person for borrowed money, including,
without limitation, (i) any obligation of such Person evidenced by bonds, debentures, notes or other similar debt instruments
and (ii) any obligation for borrowed money which is non-recourse to the credit of such Person but which is secured by a Lien on
any asset of such Person, (b) any obligation of such Person on account of deposits or advances, (c) any obligation of such Person
for the deferred purchase price of any property or services, except trade accounts payable, (d) any obligation of such Person
as lessee under a capitalized lease, (e) any indebtedness of another Person secured by a Lien on any asset of such first Person,
whether or not such Indebtedness is assumed by such first Person, (f) all guaranties of such Person, and (g) all other items that
are liabilities on a balance sheet of such Person prepared in accordance with GAAP. For all purposes of this Agreement, the Indebtedness
of any Person shall include the Indebtedness of any partnership or joint venture in which such Person is a general partner or
joint venturer.

 

“Interest
Rate” shall mean a fixed rate of interest at all times equal to 8.00% per annum.

 

“Lender”
shall mean True Harvest, LLC, an Arizona limited liability company.

 

“Lien”
means any lien, pledge, mortgage, deed of trust, security interest, charge, claim, easement, encroachment or other similar encumbrance.

 

“Loan”
shall mean the seller carryback loan from Lender to Borrower in the Loan Amount and evidenced by this Note.

 

“Loan
Amount” shall mean $25,000,000, subject to reduction for Parent’s right to offset pursuant to Section 7.08 of
the Purchase Agreement.

 

     

     

    

 

“Loan
Documents” shall mean, collectively, this Note, the Security Agreement, any and all UCC financing statements perfecting
Lender’s security interests in any collateral for the Loan, and any other documents evidencing the Loan or securing the
repayment of the Note.

 

“Maturity
Date” shall mean the date that is three (3) years from the date of issuance of this Note.

 

“Parent”
shall mean Greenrose Acquisition Corp., a Delaware corporation.

 

“Purchase
Agreement” shall mean that certain Asset Purchase Agreement dated March 12, 2021, by and between Lender, as seller,
Parent, and Borrower, as buyer.

 

“Secured
Obligations” shall mean, collectively, all of the liabilities and obligations of Borrower and Parent under the Purchase
Agreement and the Loan Documents, including, without limitation, all of the obligations of Borrower to pay the Purchase Price
(as defined in the Purchase Agreement) and all of the Guaranteed Obligations.

 

“Security
Agreement” shall mean that certain Security Agreement dated ____________, 2021, by Borrower and Parent for the benefit
of Lender.

 

2. PROMISE
TO PAY. For value received, Borrower promises to pay, in accordance with Paragraph 3(b) below, to the order of Lender
at such place as the holder hereof may from time to time designate in writing, the Loan Amount, together with accrued interest
from the date of disbursement on the unpaid principal balance at the Interest Rate. Lender and Borrower that this Note is the
“Secured Note” under the Purchase Agreement.

 

3. INTEREST;
PAYMENTS.

 

(a) Absent
an Event of Default hereunder or under any of the Loan Documents, each advance made hereunder shall bear interest at the Interest
Rate in effect from time to time.

 

(b) Commencing
on _______________, 2021, and continuing on the corresponding day of each calendar quarter thereafter, Borrower shall make consecutive
quarterly payments of all accrued, unpaid interest. On the Maturity Date, Borrower shall make a final “balloon” payment
of all unpaid principal, accrued unpaid interest, and any other amounts due hereunder due and payable.

 

4. PREPAYMENT.
Borrower may prepay the Loan, in whole or in part, at any time without penalty or premium. If Borrower prepays the Loan in full,
Borrower shall simultaneously with such prepayment pay all accrued unpaid interest on the principal amount prepaid.

 

5. LAWFUL
MONEY. Principal and interest are payable in lawful money of the United States of America.

 

6. APPLICATION
OF PAYMENTS/DEFAULT INTEREST.

 

(a) Absent
the occurrence of an Event of Default hereunder or under any of the other Loan Documents, any payments received by the holder
hereof pursuant to the terms hereof shall be applied first to the payment of all interest accrued to the date of such payment,
next to principal, and the balance, if any, to the payment of sums, other than principal and interest, due Lender pursuant to
the Loan Documents. Any payments received by the holder hereof after the occurrence of an Event of Default hereunder or under
any of the Loan Documents, shall be applied to the amounts specified in this Paragraph 6(a) in such order as the holder
hereof may, in its reasonable discretion, elect.

 

     

     

    

 

(b) If
any payment of interest and/or principal is not received by the holder hereof when such payment is due, then in addition to the
remedies conferred upon the holder hereof pursuant to Paragraph 9 hereof and the other Loan Documents, the amount
due and unpaid (including, without limitation, the late charge, if any) shall bear interest at the Default Interest Rate, computed
from the date on which the amount was due and payable until paid, regardless of any notice and cure periods.

 

7. SECURITY.
This Note is secured by the Security Agreement and the Pledge Agreement, each of which creates a lien on the property described
therein.

 

8. EVENT
OF DEFAULT. The occurrence of any one or more of the following shall constitute an “Event of Default” under
this Note and the other Loan Documents:

 

(a) Failure
by Borrower or Parent to pay any monetary amount when due under any Loan Document.

 

(b) Failure
by Borrower or Parent to pay any monetary amount (i) within ten (10) days of when due and payable, if such amount is due with
respect to an employee contract or other arrangement for the payment of employees of Borrower or Parent, (ii) within ten (10)
days of when due and payable, if such amount is due with respect to a regular monthly, quarterly or annual payment of rent, and
(iii) within thirty (30) days of when due and payable, with respect utility payments.

 

(c) Failure
by Borrower or Parent to comply with any term or condition applicable to Borrower or Parent under any Loan Document and the expiration
of thirty (30) days after written notice of such failure by Lender to Borrower.

 

(d) Any
representation or warranty by Borrower or Parent in any Loan Document is materially false, incorrect, or misleading as of the
date made.

 

(e) Any
final, non-appealable adverse decision, report or material penalty resulting from an inspection of Borrower’s operations
or facility by any governmental authority.

 

(f) Borrower
or Parent (i) is unable or admits in writing its inability to pay its respective monetary obligations as they become due,
(ii) makes a general assignment for the benefit of creditors, or (iii) applies for, consents to, or acquiesces in, the
appointment of a trustee, receiver, or other custodian for itself or its property or any part thereof, or in the absence of such
application, consent, or acquiescence, a trustee, receiver, or other custodian is appointed for it or its property or any part
thereof, and such appointment is not discharged within sixty (60) days.

  

(g) Commencement
of any case under the Bankruptcy Code, Title 11 of the United States Code, or commencement of any other bankruptcy arrangement,
reorganization, receivership, custodianship, or similar proceeding under any federal, state, or foreign law by or against Borrower
or Parent and with respect to any such case or proceeding that is involuntary, such case or proceeding is not dismissed with prejudice
within sixty (60) days of the filing thereof.

 

     

     

    

 

(h) Commencement
of any action or proceeding which seeks as one of its remedies the dissolution of Borrower or Parent.

 

(i) One
or more final, non-appealable judgments from a court or before any governmental commission, board or authority which result in
adverse determination against the Borrower in excess of Two Million ($2,000,000) in the aggregate.

 

(j) The
failure to timely pay rent, utilities or employee wages.

 

(k) All
or any material part of the property of Borrower or Parent is attached, levied upon, or otherwise seized by legal process, and
such attachment, levy, or seizure is not quashed, stayed, or released within thirty (30) days of the date thereof.

 

(l) The
occurrence of any default under any other Loan Document, including, without limitation, any default in any agreement, obligation
or instrument between Borrower or Parent and any affiliate of Lender, which continues beyond any applicable notice and cure period.

 

9. REMEDIES.
Upon the occurrence of an Event of Default, then at the option of Lender, the entire balance of principal together with all accrued
interest thereon, and all other amounts payable by Borrower under the Loan Documents shall, without demand or notice, immediately
become due and payable. Upon the occurrence of an Event of Default (and so long as such Event of Default shall continue), all
amounts due and payable by Borrower under the Loan Documents shall bear interest at the Default Interest Rate, subject to the
limitations contained in Paragraph 14 hereof. No delay or omission on the part of the holder hereof in exercising any right
under this Note or under any of the other Loan Documents hereof shall operate as a waiver of such right.

 

10. WAIVER.
Borrower, endorsers, guarantors, and sureties of this Note hereby waive diligence, demand for payment, presentment for payment,
protest, notice of nonpayment, notice of protest, notice of intent to accelerate, notice of acceleration, notice of dishonor,
and notice of nonpayment, and all other notices or demands of any kind (except notices specifically provided for in the Loan Documents)
and expressly agree that, without in any way affecting the liability of Borrower, endorsers, guarantors, or sureties, the holder
hereof may extend any maturity date or the time for payment of any installment due hereunder, otherwise modify the Loan Documents,
accept additional security, release any Person liable, and release any security or guaranty. Borrower, endorsers, guarantors,
and sureties waive, to the full extent permitted by law, the right to plead any and all statutes of limitations as a defense.

 

11. CHANGE,
DISCHARGE, TERMINATION, OR WAIVER. No provision of this Note may be changed, discharged, terminated, or waived except in a
writing signed by the party against whom enforcement of the change, discharge, termination, or waiver is sought. No failure on
the part of the holder hereof to exercise and no delay by the holder hereof in exercising any right or remedy under this Note
or under the law shall operate as a waiver thereof.

 

     

     

    

 

12. ATTORNEYS’
FEES. If this Note is not paid when due or if any Event of Default occurs, Borrower promises to pay all reasonable and documented
costs of enforcement and collection and preparation therefor, including but not limited to, reasonable attorneys’ fees,
whether or not any action or proceeding is brought to enforce the provisions hereof (including, without limitation, all such costs
incurred in connection with any bankruptcy, receivership, or other court proceedings (whether at the trial or appellate level)).

 

13. SEVERABILITY.
If any provision of this Note is unenforceable, the enforceability of the other provisions shall not be affected and they shall
remain in full force and effect.

 

14. INTEREST
RATE LIMITATION. Borrower hereby agrees to pay an effective rate of interest that is the sum of the interest rate provided
for herein, together with any additional rate of interest resulting from any other charges of interest or in the nature of interest
paid or to be paid in connection with the Loan, including, any other fees to be paid by Borrower pursuant to the provisions of
the Loan Documents. Lender and Borrower agree that none of the terms and provisions contained herein or in any of the Loan Documents
shall be construed to create a contract for the use, forbearance or detention of money requiring payment of interest at a rate
in excess of the maximum interest rate permitted to be charged by the laws of the State of Arizona. In such event, if any holder
of this Note shall collect monies which are deemed to constitute interest which would otherwise increase the effective interest
rate on this Note to a rate in excess of the maximum rate permitted to be charged by the laws of the State of Arizona, all such
sums deemed to constitute interest in excess of such maximum rate shall, at the option of the holder, be credited to the payment
of other amounts payable under the Loan Documents or returned to Borrower.

 

15. NUMBER
AND GENDER. In this Note the singular shall include the plural and the masculine shall include the feminine and neuter gender,
and vice versa.

 

16. HEADINGS.
Headings at the beginning of each numbered section of this Note are intended solely for convenience and are not part of this Note.

 

17. INTEGRATION.
The Loan Documents contain the complete understanding and agreement of the holder hereof and Borrower and supersede all prior
representations, warranties, agreements, arrangements, understandings, and negotiations.

 

18. BINDING
EFFECT. The Loan Documents will be binding upon, and inure to the benefit of, the holder hereof, Borrower, and their respective
successors and assigns. Borrower may not delegate its obligations under the Loan Documents.

 

19. SURVIVAL.
The representations, warranties, and covenants of the Borrower in the Loan Documents shall survive the execution and delivery
of the Loan Documents and the making of the Loan.

 

20. GOVERNING
LAW; JURISDICTION.

 

(a) THIS
NOTE HAS BEEN DELIVERED IN ARIZONA, AND SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF ARIZONA,
WITHOUT GIVING EFFECT TO CONFLICT OF LAWS PRINCIPLES.

 

     

     

    

 

(b) Borrower
irrevocably and unconditionally agrees that it will not commence any action, litigation or proceeding of any kind or description,
whether in law or equity, whether in contract or in tort or otherwise, against the Lender or any affiliate of the Lender in any
way relating to this Note or any other Loan Document or the transactions relating hereto or thereto, in any forum other than the
courts of the State of Arizona sitting in Maricopa County, and of the United States District Court of the District of Arizona
, and any appellate court from any thereof, and each of the parties hereto irrevocably and unconditionally submits to the jurisdiction
of such courts and agrees that all claims in respect of any such action, litigation or proceeding may be heard and determined
in such Arizona State court or, to the fullest extent permitted by applicable law, in such federal court. Each of the parties
hereto agrees that a final judgment in any such action, litigation or proceeding shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Note or in any other Loan Document
shall affect any right that the Lender may otherwise have to bring any action or proceeding relating to this Note or any other
Loan Document against the Borrower or any other Loan Party or its properties in the courts of any jurisdiction.

 

21. JURY
WAIVER. BORROWER AND LENDER (BY ITS ACCEPTANCE HEREOF) HEREBY VOLUNTARILY, KNOWINGLY, IRREVOCABLY AND UNCONDITIONALLY WAIVE
ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE (WHETHER BASED UPON CONTRACT, TORT OR OTHERWISE) BETWEEN OR AMONG
BORROWER AND LENDER ARISING OUT OF OR IN ANY WAY RELATED TO THIS NOTE OR ANY OTHER RELATED DOCUMENT OR LOAN DOCUMENT. THIS PROVISION
IS A MATERIAL INDUCEMENT TO LENDER TO PROVIDE THE FINANCING DESCRIBED HEREIN OR IN THE OTHER LOAN DOCUMENTS.

 

22. TIME
OF THE ESSENCE. Time is of the essence with regard to each provision of the Loan Documents as to which time is a factor.

  

[SIGNATURE
PAGE FOLLOWS]

  

     

     

    

 

IN
WITNESS WHEREOF, Borrower has executed this Note as of the date first written above.

  

	 	True Harvest Holdings, Inc., a Delaware corporation
	 	 
	 	By:	   
	 	Name:	   
	 	Title:	  

  

     

     

    

  

EXHIBIT
B

 

(Security
Agreement)

 

     

     

    

 

SECURITY
AGREEMENT

 

This
SECURITY AGREEMENT (“Agreement”), dated as of _______________, 2021, is between True Harvest Holdings, Inc.,
a Delaware corporation (“Debtor”), and Greenrose Acquisition Corp., a Delaware corporation (“Parent”),
and True Harvest, LLC, an Arizona limited liability company (together with its successors and assigns, the “Secured Party”).

 

WHEREAS,
Debtor has executed that certain Secured Promissory Note dated as of even date herewith (as it may be amended, modified, extended,
restated, in whole or in part, and renewed from time to time, the “Closing Note”) payable to the order of Secured
Party, as lender, pursuant to which the Secured Party has made a loan (the “Closing Loan”) to Debtor in the
original principal amount of $25,000,000 and Debtor may issue a Secured Promissory Note (as it may be amended, modified, extended,
restated, in whole or in part, and renewed from time to time, the “Earnout Note,” and together with the Closing
Note, the “Notes”) payable to the order of Secured Party, evidencing Debtor’s obligation to pay the Earnout
Payment (as defined in that certain Asset Purchase Agreement dated as of the date hereof by and among Debtor, Parent and Secured
Party, the “Asset Purchase Agreement,” capitalized but undefined terms used in this Agreement shall have the
meaning set forth in the Asset Purchase Agreement) in the original principal amount of up to $35,000,000 (the “Earnout
Loan,” and together with the Closing Loan, the “Loans”).

 

WHEREAS,
it is a condition precedent to Secured Party, as seller, entering into the Purchase Agreement, and to Secured Party’s making
the Loans to the Debtor under the Notes that the Debtor execute and deliver to the Secured Party a security agreement in substantially
the form hereof; and

 

WHEREAS,
the Debtor wishes to grant a security interest in favor of the Secured Party as herein provided;

 

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

 

2.
Definitions. All capitalized terms used
herein without definitions shall have the respective meanings provided therefor in the Notes. The term “State,”
as used herein, means the State of Arizona.

 

3.
Grant of Security Interest. The Debtor
hereby grants to the Secured Party, to secure the payment and performance in full of all of the Secured Obligations, a security
interest in the Collateral, as described on Exhibit A attached hereto and made a part hereof.

 

4.
Authorization to File Financing Statements.
The Debtor hereby irrevocably authorizes the Secured Party at any time and from time to time to file in any filing office in any
Uniform Commercial Code jurisdiction any initial financing statements and amendments thereto that (a) indicate the Collateral
(i) as all assets of the Debtor or words of similar effect, regardless of whether any particular asset comprised in the Collateral
falls within the scope of Article 9 of the Uniform Commercial Code of the State or such jurisdiction, or (ii) as being of an equal
or lesser scope or with greater detail, and (b) provide any other information required by part 5 of Article 9 of the Uniform Commercial
Code of the State, or such other jurisdiction, for the sufficiency or filing office acceptance of any financing statement or amendment,
including (i) whether the Debtor is an organization, the type of organization and any organizational identification number issued
to the Debtor and, (ii) in the case of a financing statement filed as a fixture filing or indicating Collateral as as-extracted
collateral or timber to be cut, a sufficient description of real property to which the Collateral relates. The Debtor agrees to
furnish any such information to the Secured Party promptly upon the Secured Party’s request. The Debtor also ratifies its
authorization for the Secured Party to have filed in any Uniform Commercial Code jurisdiction any like initial financing statements
or amendments thereto if filed prior to the date hereof.

 

     

     

    

 

5.
Other Actions. To further the attachment,
perfection and first priority of, and the ability of the Secured Party to enforce, the Secured Party’s security interest
in the Collateral, and without limitation on the Debtor’s other obligations in this Agreement, the Debtor agrees, in each
case at the Debtor’s expense, to take the following actions with respect to the following Collateral:

 

5.1
Other Actions as to Any and All Collateral. Each of the Parent and the Debtor further agrees, at the request and option
of the Secured Party, to take any and all other actions the Secured Party may determine to be necessary for the attachment, perfection
and first priority of, and the ability of the Secured Party to enforce, the Secured Party’s security interest in any and
all of the Collateral, including, without limitation, (a) executing, delivering and, where appropriate, filing financing statements
and amendments relating thereto under the Uniform Commercial Code, to the extent, if any, that the Parent or the Debtor’s
signature thereon is required therefor, (b) causing the Secured Party’s name to be noted as secured party on any certificate
of title for a titled good if such notation is a condition to attachment, perfection or priority of, or ability of the Secured
Party to enforce, the Secured Party’s security interest in such Collateral, (c) complying with any provision of any statute,
regulation or treaty of the United States as to any Collateral if compliance with such provision is a condition to attachment,
perfection or priority of, or ability of the Secured Party to enforce, the Secured Party’s security interest in such Collateral,
(d) obtaining governmental and other third party waivers, consents and approvals in form and substance satisfactory to Secured
Party, including, without limitation, any consent of any licensor, lessor or other person obligated on Collateral, (e) obtaining
waivers from mortgagees and landlords in form and substance satisfactory to the Secured Party, and (f) taking all actions under
any earlier versions of the Uniform Commercial Code or under any other law, as reasonably determined by the Secured Party to be
applicable in any relevant Uniform Commercial Code or other jurisdiction, including any foreign jurisdiction.

 

6.
Perishable Items. The Debtor agrees and
acknowledges that to the extent Debtor is deemed to have a right in any portion of the Collateral that contains perishable commodities,
and that, in the Event of Default, if such Collateral is found to have perished then the Secure Party will be entitled to monetary
damages and claims against the Debtor with respect to such Collateral.

 

7.
Representations and Warranties of Debtor.
The Debtor represents and warrants to the Secured Party as follows: (a) Debtor’s exact legal name is that indicated on Schedule
1 hereto and on the signature page hereof, (b) Debtor is an organization of the type set forth in Schedule 1 hereto,
(c) Schedule 1 hereto accurately sets forth the Debtor’s chief executive office, as well as the Debtor’s mailing
address, if different, and (d) all other information set forth on Schedule 1 hereto pertaining to the Debtor is accurate
and complete.

 

     

     

    

 

8.
Covenants Concerning Debtor’s Legal
Status. The Debtor covenants with the Secured Party as follows: (a) without providing at least thirty (30) days prior written
notice to the Secured Party, the Debtor will not change its name, its place of business or, if more than one, chief executive
office, or its mailing address, and (b) the Debtor will not change its type of organization, jurisdiction of organization or other
legal structure.

 

9.
Representations and Warranties Concerning
Collateral, etc. Each of the Parent and the Debtor further represents and warrants to the Secured Party as follows: (a) the
Debtor is the owner of the Collateral, free from any right or claim or any person or any adverse lien, security interest or other
encumbrance, except for the security interest created by this Agreement or any security interest existing on the Collateral prior
to Debtor’s purchase of such Collateral pursuant to the Purchase Agreement, (b) [intentionally omitted], (c) none of the
account debtors or other persons obligated on any of the Collateral is a governmental authority covered by the Federal Assignment
of Claims Act or like federal, state or local statute or rule in respect of such Collateral, (d) the Debtor holds no commercial
tort claim, and (e) the Debtor has at all times operated its business in compliance with all applicable provisions of the federal
Fair Labor Standards Act, as amended, and with all applicable provisions of federal, state and local statutes and ordinances dealing
with the control, shipment, storage or disposal of hazardous materials or substances, and (f) all other information provided by
Debtor pertaining to the Collateral is accurate and complete.

 

10.
Covenants Concerning Collateral, etc.
Each of the Parent and the Debtor further covenants with the Secured Party as follows: (a) except for the security interest herein
granted, the Debtor shall be the owner of the Collateral free from any right or claim of any other person, lien, security interest
or other encumbrance, and the Parent and the Debtor shall defend the same against all claims and demands of all persons at any
time claiming the same or any interests therein adverse to the Secured Party, (b) neither the Parent nor the Debtor shall pledge,
mortgage or create, or suffer to exist any right of any person in or claim by any person to the Collateral, or any security interest,
lien or encumbrance in the Collateral in favor of any person, other than the Secured Party, (c) the Parent and the Debtor will
keep the Collateral in good order and repair (ordinary wear and tear excepted) and will not use the same in violation of law or
any policy of insurance thereon, (d) the Parent and the Debtor will permit the Secured Party, or its designee, to inspect the
Collateral at any reasonable time, wherever located, (e) the Parent and the Debtor will pay promptly when due all taxes, assessments,
governmental charges and levies upon the Collateral or incurred in connection with the use or operation of such Collateral or
incurred in connection with this Agreement, (f) the Parent and the Debtor will continue to operate the Debtor’s business
in compliance with all applicable provisions of the federal Fair Labor Standards Act, as amended, and with all applicable provisions
of federal, state and local statutes and ordinances dealing with the control, shipment, storage or disposal of hazardous materials
or substances, and (g) neither the Parent nor the Debtor will sell or otherwise dispose, or offer to sell or otherwise dispose,
of the Collateral or any interest therein except for (i) sales of inventory in the ordinary course of business, and (ii) sales
or other dispositions of obsolescent items of equipment consistent with past practices.

 

11.
Remedies upon an Event of Default. Prior
to selling or otherwise disposing of the Collateral to any third-party person or entity, the Secured Party shall give the Parent
and the Debtor at least sixty (60) days after the occurrence of an Event of Default to pay off all of the Secured Obligations,
including any penalties and interest thereon. In the event that the Parent and Debtor fully pay off such Secured Obligations (including
penalties and interest thereon) within such sixty (60) day period, then the Secured Party shall promptly return the Collateral
to the Debtor and shall take such actions as are reasonably necessary to release any liens on the Collateral. In the event that
the Debtor or Parent do not make any such payment within such sixty (60) day period, then the Secured Party shall be permitted
to take any actions it deems reasonably necessary with respect to the Collateral. For the avoidance of doubt, this Section
10 does not limit the right of the Secured Party to exercise its rights set forth in this Agreement, including, but not limited
to, the right to appoint a receiver with respect to the Collateral, the right to take possession of the Collateral pursuant to
Section 15 and the right to exercise its foreclosure rights pursuant to the UCC.

 

     

     

    

 

12.
Collateral Protection Expenses; Preservation
of Collateral.

 

12.1
Expenses Incurred by Secured Party. In the Secured Party’s discretion, if the Debtor or Parent fails to do so, the
Secured Party may discharge taxes and other encumbrances at any time levied or placed on any of the Collateral, maintain any of
the Collateral, make repairs thereto and pay any necessary filing fees or insurance premiums. Each of the Parent and the Debtor
agrees to reimburse the Secured Party on demand for reasonable expenditures so made. The Secured Party shall have no obligation
to the Parent or the Debtor to make any such expenditures, nor shall the making thereof be construed as the waiver or cure of
any Event of Default.

 

12.2
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Debtor shall remain
obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by the Debtor thereunder.
The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out
of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured
Party be obligated in any manner to perform any of the obligations of the Debtor under or pursuant to any such contract or agreement,
to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as
to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take
any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Secured Party
or to which the Secured Party may be entitled at any time or times. The Secured Party’s sole duty with respect to the custody,
safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Uniform Commercial Code
of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property
for its own account.

 

13.
Securities and Deposits. The Secured Party
may, at any time following and during the continuance of an Event of Default, at its option, transfer to itself or any nominee
any securities constituting Collateral, receive any income thereon and hold such income as additional Collateral or apply it to
the Secured Obligations. Whether or not any Secured Obligations are due, the Secured Party may, following and during the continuance
of an Event of Default, demand, sue for, collect, or make any settlement or compromise which it deems desirable with respect to
the Collateral. Regardless of the adequacy of Collateral or any other security for the Secured Obligations, any deposits or other
sums at any time credited by or due from the Secured Party to the Debtor may at any time be applied to or set off against any
of the Secured Obligations.

 

     

     

    

 

14.
Notification to Account Debtors and Other
Persons Obligated on Collateral. If an Event of Default shall have occurred and be continuing, the Debtor shall, at the request
and option of the Secured Party, notify account debtors and other persons obligated on any of the Collateral of the security interest
of the Secured Party in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof
is to be made directly to the Secured Party or to any financial institution designated by the Secured Party as the Secured Party’s
agent therefor, and the Secured Party may itself, if an Event of Default shall have occurred and be continuing, upon notice to
the Debtor, so notify account debtors and other persons obligated on Collateral. After the making of such a request or the giving
of any such notification, the Parent and the Debtor shall hold any proceeds of collection of accounts, chattel paper, general
intangibles, instruments and other Collateral received by the Parent or the Debtor as trustee for the Secured Party without commingling
the same with other funds of the Parent and the Debtor and shall turn the same over to the Secured Party in the identical form
received, together with any necessary endorsements or assignments. The Secured Party shall apply the proceeds of collection of
accounts, chattel paper, general intangibles, instruments and other Collateral received by the Secured Party to the Secured Obligations,
such proceeds to be immediately credited after final payment in cash or other immediately available funds of the items giving
rise to them.

 

15.
Power of Attorney.

 

15.1
Appointment and Powers of Secured Party. Each of the Debtor and Parent hereby irrevocably constitutes and appoints the
Secured Party and any officer or agent thereof, with full power of substitution, as its true and lawful attorneys-in-fact with
full irrevocable power and authority in the place and stead of the Debtor or Parent or in the Secured Party’s own name,
for the purpose of carrying out the terms of this Agreement, to take any and all appropriate action and to execute any and all
documents and instruments that may be necessary or useful to accomplish the purposes of this Agreement and, without limiting the
generality of the foregoing, hereby gives said attorneys the power and right, on behalf of the Debtor or Parent, without notice
to or assent by the Debtor or Parent, to do the following:

 

(a)
upon the occurrence and during the continuance of an Event of Default, generally to sell, transfer, pledge, make any agreement
with respect to or otherwise dispose of or deal with any of the Collateral in such manner as is consistent with the Uniform Commercial
Code of the State and as fully and completely as though the Secured Party were the absolute owner thereof for all purposes, and
to do, at the Debtor’s expense, at any time, or from time to time, all acts and things which the Secured Party deems necessary
or useful to protect, preserve or realize upon the Collateral and the Secured Party’s security interest therein, in order
to effect the intent of this Agreement, all at least as fully and effectively as the Debtor might do, including, without limitation,
(i) the filing and prosecuting of registration and transfer applications with the appropriate federal, state, local or other agencies
or authorities with respect to trademarks, copyrights and patentable inventions and processes, (ii) upon written notice to the
Debtor, the exercise of voting rights with respect to voting securities, which rights may be exercised, if the Secured Party so
elects, with a view to causing the liquidation of assets of the issuer of any such securities, and (iii) the execution, delivery
and recording, in connection with any sale or other disposition of any Collateral, of the endorsements, assignments or other instruments
of conveyance or transfer with respect to such Collateral;

 

     

     

    

 

(b)
to the extent that the Debtor’s authorization given in Section 3 is not sufficient, to file such financing statements
with respect hereto, with or without the Debtor’s signature, or a photocopy of this Agreement in substitution for a financing
statement, as the Secured Party may deem appropriate and to execute in the Debtor’s name such financing statements and amendments
thereto and continuation statements which may require the Debtor’s signature; and

 

(c)
upon the occurrence and during the continuance of an Event of Default, generally to exercise any self-help remedies with respect
to any of the Collateral, and to take any and all such actions as the Secured Party deems necessary or useful to protect and preserve
the Collateral and the Secured Party’s security interest therein, including, but not limited to, having the right to immediately
access the Debtor’s premises in order to secure and preserve the Collateral.

 

15.2
Ratification by Debtor. To the extent permitted by law, each of the Debtor and Parent hereby ratifies all that said attorneys
shall lawfully do or cause to be done by virtue hereof. This power of attorney is a power coupled with an interest and is irrevocable.

 

15.3
No Duty on Secured Party. The powers conferred on the Secured Party hereunder are solely to protect its interests in the
Collateral and shall not impose any duty upon it to exercise any such powers. The Secured Party shall be accountable only for
the amounts that it actually receives as a result of the exercise of such powers, and neither it nor any of its officers, directors,
employees or agents shall be responsible to the Debtor for any act or failure to act, except for the Secured Party’s own
gross negligence or willful misconduct.

 

16.
Rights and Remedies.

 

16.1
If an Event of Default shall have occurred and be continuing, the Secured Party, without any other notice to or demand upon the
Debtor have in any jurisdiction in which enforcement hereof is sought, in addition to all other rights and remedies, the rights
and remedies of a secured party under the Uniform Commercial Code of the State and any additional rights and remedies which may
be provided to a secured party in any jurisdiction in which Collateral is located, including, without limitation, the right to
take possession of the Collateral, and for that purpose the Secured Party may, so far as the Parent or the Debtor can give authority
therefor, enter upon any premises on which the Collateral may be situated and remove the same therefrom. The Secured Party may
in its discretion require the Parent and the Debtor to assemble all or any part of the Collateral at such location or locations
within the jurisdiction(s) of the Debtor’s principal office(s) or at such other locations as the Secured Party may reasonably
designate. In addition, each of the Debtor and Parent waives any and all rights that it may have to a judicial hearing in advance
of the enforcement of any of the Secured Party’s rights and remedies hereunder, including, without limitation, its right
following an Event of Default to take immediate possession of the Collateral and to exercise its rights and remedies with respect
thereto.

 

16.2
If an Event of Default shall have occurred and be continuing, and in addition to any other rights and remedies, as a matter of
right and without notice to Debtor or anyone claiming under Debtor, and without regard to the then value of the Collateral or
the interest of Debtor therein, or the solvency of Debtor, Secured Party may seek the appointment of a receiver for Debtor and/or
the Collateral. Each of the Parent and the Debtor waives any right to a hearing or notice of hearing prior to the appointment
of a receiver and irrevocably consents to such appointment. Such receiver shall have all of the usual powers and duties of receivers
in like or similar cases and all of the powers and duties of Secured Party in case of entry as provided above and shall continue
as such and exercise all such powers until the later of the date of confirmation of sale of the Collateral or the date of expiration
of any redemption period, unless such receivership is sooner terminated. All expenses incurred by the receiver or its agents,
including obligations to repay funds borrowed by the receiver, shall constitute a part of the Secured Obligations. Any revenues
collected by the receiver shall be applied first to the expenses of the receivership, including reasonable attorneys’ fees
incurred by the receiver and Secured Party, together with interest thereon at the Default Interest Rate from the date incurred
until paid, and the balance shall be applied toward the Secured Obligations or in such other manner as the court may direct.

 

     

     

    

 

17.
Standards for Exercising Rights and Remedies.
To the extent that applicable law imposes duties on the Secured Party to exercise remedies in a commercially reasonable manner,
each of the Parent and the Debtor acknowledges and agrees that it is not commercially unreasonable for the Secured Party (a) to
fail to incur expenses reasonably deemed significant by the Secured Party to prepare Collateral for disposition or otherwise to
fail to complete raw material or work in process into finished goods or other finished products for disposition, (b) to fail to
obtain third party consents for access to Collateral to be disposed of, or to obtain or, if not required by other law, to fail
to obtain governmental or third party consents for the collection or disposition of Collateral to be collected or disposed of,
(c) to fail to exercise collection remedies against account debtors or other persons obligated on Collateral or to fail to remove
liens or encumbrances on or any adverse claims against Collateral, (d) to exercise collection remedies against account debtors
and other persons obligated on Collateral directly or through the use of collection agencies and other collection specialists,
(e) to hire one or more professional auctioneers to assist in the disposition of Collateral, whether or not the collateral is
of a specialized nature, (f) to dispose of Collateral by utilizing Internet sites that provide for the auction of assets of the
types included in the Collateral or that have the reasonable capability of doing so, or that match buyers and sellers of assets,
(g) to dispose of assets in wholesale rather than retail markets, (h) to disclaim disposition warranties, (i) to purchase insurance
or credit enhancements to insure the Secured Party against risks of loss, collection or disposition of Collateral or to provide
to the Secured Party a guaranteed return from the collection or disposition of Collateral, or (j) to the extent deemed appropriate
by the Secured Party, to obtain the services of other brokers, investment bankers, consultants and other professionals to assist
the Secured Party in the collection or disposition of any of the Collateral. Each of the Parent and the Debtor acknowledges that
the purpose of this Section 16 is to provide non-exhaustive indications of what actions or omissions by the Secured Party
would fulfill the Secured Party’s duties under the Uniform Commercial Code or other law of the State or any other relevant
jurisdiction in the Secured Party’s exercise of remedies against the Collateral and that other actions or omissions by the
Secured Party shall not be deemed to fail to fulfill such duties solely on account of not being indicated in this Section 16.
Without limitation upon the foregoing, nothing contained in this Section 16 shall be construed to grant any rights to the
Parent or the Debtor or to impose any duties on the Secured Party that would not have been granted or imposed by this Agreement
or by applicable law in the absence of this Section 16.

 

18.
No Waiver by Secured Party, etc. The Secured
Party shall not be deemed to have waived any of its rights or remedies in respect of the Secured Obligations or the Collateral
unless such waiver shall be in writing and signed by the Secured Party. No delay or omission on the part of the Secured Party
in exercising any right or remedy shall operate as a waiver of such right or remedy or any other right or remedy. A waiver on
any one occasion shall not be construed as a bar to or waiver of any right or remedy on any future occasion. All rights and remedies
of the Secured Party with respect to the Secured Obligations or the Collateral, whether evidenced hereby or by any other instrument
or papers, shall be cumulative and may be exercised singularly, alternatively, successively or concurrently at such time or at
such times as the Secured Party deems expedient.

 

     

     

    

 

19.
Suretyship Waivers by Debtor. Each of
the Parent and the Debtor waives demand, notice, protest, notice of acceptance of this Agreement, notice of loans made, credit
extended, Collateral received or delivered or other action taken in reliance hereon and all other demands and notices of any description.
With respect to both the Secured Obligations and the Collateral, each of the Parent and the Debtor assents to any extension or
postponement of the time of payment or any other indulgence, to any substitution, exchange or release of or failure to perfect
any security interest in any Collateral, to the addition or release of any party or person primarily or secondarily liable, to
the acceptance of partial payment thereon and the settlement, compromising or adjusting of any thereof, all in such manner and
at such time or times as the Secured Party may deem advisable. The Secured Party shall have no duty as to the collection or protection
of the Collateral or any income therefrom, the preservation of rights against prior parties, or the preservation of any rights
pertaining thereto beyond the safe custody thereof as set forth in Section 11.2. Each of the Parent and the Debtor further
waives any and all other suretyship defenses.

 

20.
Marshaling. The Secured Party shall not
be required to marshal any present or future collateral security (including but not limited to the Collateral) for, or other assurances
of payment of, the Secured Obligations or any of them or to resort to such collateral security or other assurances of payment
in any particular order, and all of its rights and remedies hereunder and in respect of such collateral security and other assurances
of payment shall be cumulative and in addition to all other rights and remedies, however existing or arising. To the extent that
it lawfully may, each of the Parent and the Debtor hereby agrees that it will not invoke any law relating to the marshaling of
collateral which might cause delay in or impede the enforcement of the Secured Party’s rights and remedies under this Agreement
or under any other instrument creating or evidencing any of the Secured Obligations or under which any of the Secured Obligations
is outstanding or by which any of the Secured Obligations is secured or payment thereof is otherwise assured, and, to the extent
that it lawfully may, each of the Parent and the Debtor hereby irrevocably waives the benefits of all such laws.

 

21.
Proceeds of Dispositions; Expenses. The
Parent and Debtor shall pay to the Secured Party on demand any and all expenses, including reasonable attorneys’ fees and
disbursements, incurred or paid by the Secured Party in protecting, preserving or enforcing the Secured Party’s rights and
remedies under or in respect of any of the Secured Obligations or any of the Collateral. After deducting all of said expenses,
the residue of any proceeds of collection or sale or other disposition of the Collateral shall, to the extent actually received
in cash, be applied to the payment of the Secured Obligations in such order or preference as the Secured Party may determine proper
allowance and provision being made for any Secured Obligations not then due. Upon the final payment and satisfaction in full of
all of the Secured Obligations and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the Uniform
Commercial Code of the State, any excess shall be returned to the Parent and the Debtor. In the absence of final payment and satisfaction
in full of all of the Secured Obligations, the Parent and the Debtor shall remain liable for any deficiency.

 

22.
Overdue Amounts. Until paid, all amounts
due and payable by the Debtor hereunder shall be a debt secured by the Collateral and shall bear, whether before or after judgment,
interest at the default rate of interest provided in the Notes.

 

23.
Reporting.

 

23.1
Subject to the Secured Party having entered into a confidentiality agreement in the form attached hereto as Exhibit B (such
agreement, a “Confidentiality Agreement”), Parent and Debtor shall provide Secured Party with such financial
statements and reports as Secured Party may reasonably request from time to time that Parent prepares in its ordinary course of
business and that relate to Debtor and/or the Collateral.

 

23.2
Promptly but in any event no later than five (5) days after the end of each month, Debtor shall submit to Secured Party an email
confirmation that all rent, utilities and employee wages have been paid for the preceding month.

 

     

     

    

 

23.3
No later than five (5) days after discovery, Debtor shall submit to Secured Party a written notice of all actions, suits or proceedings
filed or threatened against or affecting Debtor in any court or before any governmental commission, board, or authority which,
if adversely determined (i) may result in a judgment, adverse determination, or other detriment against Debtor in excess of Two
Hundred Fifty Thousand Dollars ($250,000).

 

23.4
Immediately after discovery, Debtor shall submit to Secured Party a written notice of any loss of or material damage to any Collateral
or of any substantial adverse change in any Collateral or the prospect of its payment.

 

23.5
Promptly but in any event no later than five (5) days after receipt of notice of a material violation by any governmental authority.

 

23.6
Promptly but in any event no later than forty-eight (48) hours after receipt of a failed inspection, deficiency report or other
citation from the Arizona Department of Health and Safety or any other governmental authority.

 

24.
Books and Records; Inspections.

 

24.1
Books and Records; Inspection. Parent and Debtor shall keep complete and accurate books and records with respect to the
Collateral and Debtor’s business and financial condition and any other matters that the Secured Party may request, in accordance
with GAAP. Upon reasonable notice of no less than forty-eight (48) hours, and subject to the Secured Party having entered into
a Confidentiality Agreement, Parent and Debtor shall at any reasonable time and from time to time permit the Secured Party or
any representative of the Secured Party to audit, examine and make copies of any of Parent or Debtor’s books and records,
and visit and inspect the Collateral and other assets of Debtor, and to discuss the business, affairs, finances, insurance, accounts
and Collateral of Parent and Debtor with any of Parent or Debtor’s shareholders, officers, directors employees and other
agents and with Debtor’s independent accountants. The parties agree that upon (i) the occurrence and continuation of an
Event of Default or (ii) the failure by the Debtor to abide by its reporting obligations in Section 22, but, in each case,
subject to the parties having entered into a Confidentiality Agreement, Secured Party, or any representative of the Secured Party,
shall not be required to provide prior notice to take the actions set forth in this Section 23.1.

 

24.2
Authorization to Debtor’s Agents to Make Disclosures to the Secured Party. Each of the Parent and the Debtor authorizes
all accountants and other Persons acting as its agent to disclose and deliver to the Secured Party’s employees, accountants,
attorneys and other Persons acting as its agent, at the Parent and Debtor’s expense, all financial information, books and
records, work papers, management reports and other information in their possession regarding the Debtor and the Collateral.

 

24.3
Collateral Exams and Inspections. Each of the Parent and the Debtor shall permit the Secured Party or its designee(s),
from time to time in the Secured Party’s sole discretion and expense, to conduct an audit and examination of the Collateral
or any other property of the Debtor.

 

25.
CHOICE OF LAW; SUBMISSION TO JURISDICTION.
THIS AGREEMENT HAS BEEN DELIVERED IN ARIZONA, AND SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE
OF ARIZONA. THE COURTS OF ARIZONA, FEDERAL OR STATE, SHALL HAVE EXCLUSIVE JURISDICTION OF ALL LEGAL ACTIONS ARISING OUT OF THIS
AGREEMENT. BY EXECUTING THIS AGREEMENT, THE UNDERSIGNED SUBMITS TO THE JURISDICTION OF THE FEDERAL AND STATE COURTS OF ARIZONA.

 

26.
Miscellaneous. The headings of each section
of this Agreement are for convenience only and shall not define or limit the provisions thereof. This Agreement and all rights
and obligations hereunder shall be binding upon the Debtor and its respective successors and assigns, and shall inure to the benefit
of the Secured Party and its successors and assigns.

 

27.
Severability. If any term of this Agreement
shall be held to be invalid, illegal or unenforceable, the validity of all other terms hereof shall in no way be affected thereby,
and this Agreement shall be construed and be enforceable as if such invalid, illegal or unenforceable term had not been included
herein. The Debtor acknowledges receipt of a copy of this Agreement.

 

[SIGNATURE
PAGE FOLLOWS]

 

     

     

    

 

IN
WITNESS WHEREOF, intending to be legally bound, the parties caused this Agreement to be duly executed as of the date first above
written.

 

	 	DEBTOR
	 	 	 
	 	True Harvest Holdings, Inc.. a Delaware corporation
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	SECURED PARTY
	 	 	 
	 	True Harvest, LLC, an Arizona limited liability company
	 	 	 
	 	By:	 
	 	Name:	Michael Macchiaroli
	 	Title:	Manager

 

     

     

    

 

EXHIBIT
A

 

Collateral
Description

 

The
“Collateral” consists of all of the following described property, whether now owned or hereafter acquired and
wherever located, together with all replacements and substitutions therefor and all cash and non-cash proceeds (including insurance
proceeds and any title and Uniform Commercial Code insurance proceeds) and products thereof, and, in the case of tangible property,
together with all additions, attachments, accessions, parts, equipment and repairs now or hereafter attached or affixed thereto
or used in connection therewith, excluding, however, any and all “consumer goods,” as defined in the Uniform Commercial
Code of Arizona: All of Debtor’s right, title, and interest in:

 

(a)
all types of property included within the term “equipment” as defined by the Uniform Commercial Code of Arizona (except
titled motor vehicles), including machinery, furniture, appliances, trade fixtures, tools, and office and record keeping equipment;

 

(b)
all inventory, including all goods held for sale, raw materials, work in process and materials or supplies used or consumed in
Debtor’s business;

 

(c)
all farm products;

 

(d)
all documents; general intangibles (including payment intangibles); accounts; contract rights; chattel paper and instruments (including
promissory notes); money; securities; investment properties; deposit accounts; supporting obligations; letters of credit and letter
of credit rights; commercial tort claims; and records, software and information contained in computer media (such as databases,
source and object codes and information therein), together with any equipment and software to create, utilize, maintain or process
any such records or data on electronic media;

 

(e)
any and all plans and specifications, designs, drawings and other matters prepared for any construction on any real property owned
by or leased to Debtor or regarding any improvements and any and all construction contracts, design agreements, engineering agreements
and other agreements related to the construction of any such improvements;

 

(f)
trade names, trademarks, servicemarks, logos and goodwill; and

 

(g)
to the extent constituting collateral with respect to which a security interest may be created pursuant to Article 9 of the UCC,
amounts paid as rents, fees, charges, accounts, or other payments for the use or occupancy of rooms and other public facilities
in hotels, motels, or other lodging properties.

 

     

     

    

 

Schedule
1

 

Debtor
Information

 

The
exact legal name of the Debtor as that name appears on its certificate of formation: True Harvest Holdings, Inc.

 

The
following is the location of the chief executive and a mailing address for the Debtor: ___________________________

 

The
following is the type of organization of the Debtor: Corporation

 

The
following is the jurisdiction of the Debtor’s organization: Delaware

 

     

     

    

 

EXHIBIT
C

 

(Bill
of Sale)

 

     

     

    

  

BILL
OF SALE

 

THIS
BILL OF SALE is made and entered into as of ____, 2021 by True Harvest, LLC, an Arizona limited liability company (“Seller”),
in favor of True Harvest Holdings, Inc., a Delaware corporation (“Buyer”).

 

In
consideration of a total purchase price of $50,000,000, the receipt and sufficiency of which hereby are acknowledged, Seller sells,
assigns, transfers, conveys and delivers to Buyer, all of Seller’s right, title, and interest in and to the assets set forth
in Exhibit A attached hereto and made a part hereof (collectively, the “Assets”).

 

Seller
shall deliver any and all other instruments or documents required to be delivered pursuant to, or necessary or proper in order
to give effect to, the provisions of this Bill of Sale, including, without limitation, all instruments of transfer as may be necessary
or desirable to transfer title to all of the Seller’s rights in and to the Assets and to consummate the transactions contemplated
by this Bill of Sale; provided such delivery shall be at no additional cost or expense to Seller. When reasonably requested by
Buyer, Seller agrees to cooperate with Buyer in connection with any disputes or litigation involving ownership or use of the Assets
that may arise after the date hereof.

 

This
Bill of Sale shall also constitute an assignment of Seller’s entire right, title, and interest in any Assets for which an
assignment is necessary or appropriate to transfer such right, title, and interest.

 

This
Bill of Sale shall be governed by and construed in accordance with the laws of the State of Arizona without giving effect to any
conflicts of law provisions.

 

IN
WITNESS WHEREOF, the undersigned has executed this Bill of Sale as of the date first written above.

 

	 	SELLER: 
	 	TRUE HARVEST, LLC
	 	 	 
	 	By:  	 
	 	 	Name:  
	 	 	Title:  

 

     

     

    

 

EXHIBIT
A

 

ASSETS

 

     

     

    

EXHIBIT
D

 

(Assignment
and Assumption)

 

     

     

    

  

ASSIGNMENT
AND ASSUMPTION AGREEMENT

 

This
Assignment and Assumption Agreement (this “Assignment and Assumption Agreement”) is entered into as of [_______],
2021, by and between True Harvest Holdings, Inc. Greenrose Acquisition, a Delaware corporation (“Buyer”), and
True Harvest, LLC, an Arizona LLC (“Seller”). Capitalized terms used herein but not otherwise defined have
the respective meanings given to such terms in that certain Asset Purchase Agreement (the “Purchase Agreement”),
dated as of March 12, 2021, by and between Buyer and Seller.

 

RECITALS

 

WHEREAS,
Buyer and Seller entered into the Purchase Agreement;

 

WHEREAS,
Pursuant to the terms and subject to the conditions of the Purchase Agreement, Buyer has agreed to purchase, and Seller has agreed
to sell, the Purchased Assets, other than the Excluded Assets, and assume the Assumed Liabilities;

 

WHEREAS,
Buyer and Seller now desire to carry out the intent and purpose of the Purchase Agreement by, among other things, the execution
and delivery of this Assignment and Assumption Agreement;

 

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

 

AGREEMENT

 

1.
Pursuant to the Purchase Agreement and in accordance with the terms thereof, as of the date hereof, Buyer hereby assumes and becomes
responsible for, and hereafter shall pay, perform and discharge as and when due, the Assumed Liabilities. Buyer is not assuming
any other liability or obligation of Seller (including the Excluded Liabilities), all of which shall be retained by Seller and
remain the sole responsibility of Seller.

 

2.
Each party hereto shall, at the reasonable request of the other, execute and deliver, or cause to be executed and delivered, such
additional instruments and take such further actions as may be reasonably necessary to carry out the transactions contemplated
by this Assignment and Assumption Agreement.

 

3.
This Assignment and Assumption Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective
successors and permitted assigns. Neither party may assign its rights or obligations hereunder without the prior written consent
of the other party, which consent shall not be unreasonably withheld or delayed. No assignment shall relieve the assigning party
of any of its obligations hereunder.

 

     

     

    

 

4.
This Assignment and Assumption Agreement is being executed solely to give effect to the transactions contemplated by the Purchase
Agreement. Nothing in this Assignment and Assumption Agreement, express or implied, is intended to, or shall be construed to,
modify, expand or limit in any way the terms of the Purchase Agreement. To the extent that any provision of this Assignment and
Assumption Agreement conflicts or is inconsistent with the terms of the Purchase Agreement, the Purchase Agreement shall govern.

 

5.
This Assignment and Assumption Agreement may be executed in counterparts, each of which shall be deemed an original, but all of
which together shall be deemed to be one and the same agreement. A signed copy of this Assignment and Assumption Agreement delivered
by facsimile, e-mail or other means of electronic transmission shall be deemed to have the same legal effect as delivery of an
original signed copy of this Assignment and Assumption Agreement.

 

6.
If any term or provision of this Assignment and Assumption Agreement is invalid, illegal or unenforceable in any jurisdiction,
such invalidity, illegality or unenforceability shall not affect any other term or provision of this Assignment and Assumption
Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction.

 

7.
This Assignment and Assumption Agreement may not be amended, modified, supplemented or waived, except in writing signed by both
Buyer and Seller.

 

8.
This Assignment and Assumption Agreement shall be governed by and construed in accordance with the internal laws of the State
of Arizona without giving effect to any choice or conflict of law provision or rule (whether of the State of Arizona or any other
jurisdiction).

 

[Remainder
of Page Intentionally Left Blank]

 

     

     

    

 

IN
WITNESS WHEREOF, Buyer has caused its duly authorized representative to execute this Assignment and Assumption Agreement effective
as of the day and year first above written.

 

	 	TRUE HARVEST HOLDINGS, INC.
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	TRUE HARVEST, LLC
	 	 
	 	By:	         
	 	Name:	 
	 	Title:	 

 

     

     

    

 

EXHIBIT
E

 

(Intellectual
Property Assignments)

 

     

     

    

  

TRADEMARK
ASSIGNMENT

 

THIS
TRADEMARK ASSIGNMENT is made and entered into effective as of ___, 2021 (the “Effective Date”).

 

WHEREAS,
True Harvest, LLC an Arizona limited liability company, having an address 4301 West Buckeye Rd, Phoenix, AZ 85043 (“Assignor”),
is the owner of all right, title, and interest in and to the following registered trademarks:

 

	Mark	 	Registration No.	 	Registration Date
	 	 	 	 	 
	 	 	 	 	 

 

“the
True Harvest Marks”; and

 

WHEREAS,
TRUE HARVEST HOLDINGS, INC., a Delaware corporation, having an address at 111 Broadway, Amityville, New York 11701 (“Assignee”),
is desirous of acquiring the True Harvest Marks and all the goodwill associated therewith;

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Assignor hereby assigns
and transfers to Assignee, all of Assignor’s right, title and interest in and to the True Harvest Marks, together with the
goodwill of the business symbolized thereby and/or associated therewith.

 

[SIGNATURE
PAGE FOLLOWS]

 

     

     

    

 

IN
WITNESS WHEREOF, Assignor has caused this Trademark Assignment to be executed by its duly authorized officer as of the Effective
Date first written above.

 

	 	TRUE HARVEST, LLC
	 	 	 
	 	By:	      
	 	Name:	 
	 	Title:	 

 

     

     

    

 

EXHIBIT
F

 

(Non-Competition
Agreement)

 

OMITTED

 

     

     

    

 

EXHIBIT
G

 

(Lease
Assignment and Assumption Agreement)

 

     

     

    

  

LEASE
ASSIGNMENT AND ASSUMPTION AGREEMENT

 

This
LEASE ASSIGNMENT AND ASSUMPTION AGREEMENT (this “Lease Assignment and Assumption Agreement”) is made by and
between True Harvest, LLC, an Arizona limited liability company (“Assignor”), and True Harvest Holdings, Inc.,
a Delaware limited liability company (“Assignee”). The effective date of this Lease Assignment and Assumption
Agreement is ________________, 2021 (the “Effective Date”). The assignment and assumption of the Industrial
Lease dated July 25, 2017 (the “Lease”) by and between MSCP, L.L.C., an Arizona limited liability company,
as landlord (“Landlord”), and Assignor, as tenant, for certain premises known as 4301 W. Buckeye Road, Phoenix,
Arizona 85043 (also known as Building A with a designated address of 4315 W. Buckeye Road), as more specifically described in
the Lease, as contemplated by this Lease Assignment and Assumption Agreement shall occur on the Effective Date. Capitalized terms
used but not otherwise defined herein shall have the meaning ascribed to such terms in the Lease.

 

WHEREAS,
(i) Assignor has agreed to assign, transfer, convey and deliver to Assignee all of Assignor’s right, title and interest
in and to the Lease, and Assignee has agreed to acquire, accept and take assignment and delivery of such Lease; and (ii) Assignor
desires that Assignee assume, and Assignee has agreed to assume from Assignor, the Lease effective as of the Effective Date, and
in each case to the extent that the Lease is transferrable.

 

NOW,
THEREFORE, in consideration of the promises and the mutual agreements and covenants herein, and intending to be legally bound
hereby the parties hereto agree as follows:

 

1.
Assignment of Assets. For value received, the sufficiency of which is hereby acknowledged, Assignor hereby assigns, transfers,
conveys and delivers to Assignee, and Assignee hereby acquires, accepts and takes assignment and delivery from Assignor of all
of Assignor’s rights, title and interest in and to the Lease.

 

2.
Assumption of Assumed Liabilities. Assignee hereby agrees to assume and perform all of the obligations, liabilities, covenants,
duties and agreements of Assignor arising under the Lease from and after the Effective Date.

 

3.
Representations of Assignor. Assignor represents that:

 

(a)
Assignor has not received notice from Landlord that Assignor is in breach or default under the Lease;

 

(b)
To Assignor’s knowledge, neither Assignor nor Landlord is in breach of the Lease;

 

(c)
Assignor has paid all amounts due under the Lease through the Effective Date; and

 

(d)
To Assignor’s knowledge, the consent of Landlord is not required for the assignment of the Lease by Assignor to Assignee.

 

4.
Further Actions. Each of the parties hereto shall use all commercially reasonable efforts to take, or cause to be taken,
all appropriate action and do, or cause to be done, all things necessary, proper or advisable under applicable Law, and to execute
and deliver such documents and other papers, as may be required to carry out the provisions of this Lease Assignment and Assumption
Agreement and to consummate and make effective the transactions contemplated hereby.

 

5.
Successors and Assigns. This Lease Assignment and Assumption Agreement shall be binding upon and inure solely to the benefit
of the parties hereto and their respective successors and permitted assigns.

 

6.
Amendments. No amendment or modification to any terms of this Lease Assignment and Assumption Agreement, waiver of the
obligations or liabilities of Assignor or Assignee hereunder, or termination of this Lease Assignment and Assumption Agreement,
shall be valid unless in writing and signed by Assignor and Assignee.

 

7.
Governing Law. This Lease Assignment and Assumption Agreement shall be governed by, and construed in accordance with, the
laws of the Arizona applicable to Contracts executed in and to be performed in that state (without giving effect to its conflict
of laws principles).

 

8.
Counterparts. This Lease Assignment and Assumption Agreement may be executed and delivered (including by email or facsimile
transmission) in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed
shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement.

 

[Remainder
of the page intentionally left blank]

 

     

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Lease Assignment and Assumption Agreement to be executed and delivered as
of the date first above written.

 

	 	ASSIGNOR:
	 	 
	 	True Harvest, LLC,
	 	an Arizona limited liability company
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	ASSIGNEE:
	 	 
	 	True Harvest Holdings, Inc.,
	 	a Delaware corporation
	 	 	        
	 	By:	 
	 	Name:	 
	 	Title:	 

     

     

    

 

EXHIBIT
H

 

(Earnout
Note)

 

     

     

    

  

SECURED
PROMISSORY NOTE

 

[$35,000,000]
______________, 202__

 

1.
FUNDAMENTAL PROVISIONS.

 

The
following terms will be used as defined terms in this Secured Promissory Note (as it may be amended, modified, extended and renewed
from time to time, the “Note”) and certain of the other Loan Documents (as hereinafter defined):

 

“Borrower”
shall mean True Harvest Holdings, Inc., a Delaware corporation.

 

“Default
Interest Rate” shall mean 10.00% per annum above the Interest Rate.

 

“Guaranteed
Obligations” shall mean as defined in the Purchase Agreement.

 

“Guaranty”
shall mean Parent’s guaranty of the Guaranteed Obligations pursuant to Section 1.08 of the Purchase Agreement.

 

“Indebtedness”
shall mean, with respect to any Person, without duplication, (a) any obligation of such Person for borrowed money, including,
without limitation, (i) any obligation of such Person evidenced by bonds, debentures, notes or other similar debt instruments
and (ii) any obligation for borrowed money which is non-recourse to the credit of such Person but which is secured by a Lien on
any asset of such Person, (b) any obligation of such Person on account of deposits or advances, (c) any obligation of such Person
for the deferred purchase price of any property or services, except trade accounts payable, (d) any obligation of such Person
as lessee under a capitalized lease, (e) any indebtedness of another Person secured by a Lien on any asset of such first Person,
whether or not such Indebtedness is assumed by such first Person, (f) all guaranties of such Person, and (g) all other items that
are liabilities on a balance sheet of such Person prepared in accordance with GAAP. For all purposes of this Agreement, the Indebtedness
of any Person shall include the Indebtedness of any partnership or joint venture in which such Person is a general partner or
joint venturer.

 

“Interest
Rate” shall mean a fixed rate of interest at all times equal to 8.00% per annum.

 

“Lender”
shall mean True Harvest, LLC, an Arizona limited liability company.

 

“Lien”
means any lien, pledge, mortgage, deed of trust, security interest, charge, claim, easement, encroachment or other similar encumbrance.

 

“Loan”
shall mean the Earnout Payment evidenced by this Note.

 

“Loan
Amount” shall mean [$35,000,000].

 

“Loan
Documents” shall mean, collectively, this Note, the Security Agreement, any and all UCC financing statements perfecting
Lender’s security interests in any collateral for the Loan, and any other documents evidencing the Loan or securing the
repayment of the Note.

 

     

     

    

 

“Maturity
Date” shall mean the date that is twenty-four (24) months after issuance of this Note.

 

“Parent”
shall mean Greenrose Acquisition Corp., a Delaware corporation.

 

“Purchase
Agreement” shall mean that certain Asset Purchase Agreement dated March 12, 2021, by and between Lender, as seller,
Parent, and Borrower, as buyer.

 

“Secured
Obligations” shall mean, collectively, all of the liabilities and obligations of Borrower and Parent under the Purchase
Agreement and the Loan Documents, including, without limitation, all of the obligations of Borrower to pay the Earnout Payment
(as defined in the Purchase Agreement) and all of the Guaranteed Obligations.

 

“Security
Agreement” shall mean that certain Security Agreement dated ____________, 2021, by Borrower and Parent for the benefit
of Lender.

 

2.
PROMISE TO PAY. For value received, Borrower promises to pay, in accordance with Paragraph 3(b) below, to the order
of Lender at such place as the holder hereof may from time to time designate in writing, the Loan Amount, together with accrued
interest from the date of disbursement on the unpaid principal balance at the Interest Rate. Lender and Borrower that this Note
is the “Secured Note” under the Purchase Agreement.

 

3.
INTEREST; PAYMENTS.

 

(a)
Absent an Event of Default hereunder or under any of the Loan Documents, the Loan Amount shall bear interest at the Interest Rate
in effect from time to time.

 

(b)
Commencing on the one (1) month anniversary of the issuance of this Note and continuing on the corresponding day of each month
thereafter through the Maturity Date, Borrower shall make consecutive monthly payments of principal and accrued, unpaid interest
based upon a twenty-four (24) month amortization schedule.

 

4.
PREPAYMENT. Borrower may prepay the Loan, in whole or in part, at any time without penalty or premium. If Borrower prepays
the Loan in full, Borrower shall simultaneously with such prepayment pay all accrued unpaid interest on the principal amount prepaid.

 

5.
LAWFUL MONEY. Principal and interest are payable in lawful money of the United States of America.

 

6.
APPLICATION OF PAYMENTS/DEFAULT INTEREST.

 

(a)
Absent the occurrence of an Event of Default hereunder or under any of the other Loan Documents, any payments received by the
holder hereof pursuant to the terms hereof shall be applied first to the payment of all interest accrued to the date of such payment,
next to principal, and the balance, if any, to the payment of sums, other than principal and interest, due Lender pursuant to
the Loan Documents. Any payments received by the holder hereof after the occurrence of an Event of Default hereunder or under
any of the Loan Documents, shall be applied to the amounts specified in this Paragraph 6(a) in such order as the holder
hereof may, in its reasonable discretion, elect.

 

     

     

    

 

(b)
If any payment of interest and/or principal is not received by the holder hereof when such payment is due, then in addition to
the remedies conferred upon the holder hereof pursuant to Paragraph 9 hereof and the other Loan Documents, the amount
due and unpaid (including, without limitation, the late charge, if any) shall bear interest at the Default Interest Rate, computed
from the date on which the amount was due and payable until paid, regardless of any notice and cure periods.

 

7.
SECURITY. This Note is secured by the Security Agreement, which creates a lien on the property described therein.

 

8.
EVENT OF DEFAULT. The occurrence of any one or more of the following shall constitute an “Event of Default”
under this Note and the other Loan Documents:

 

(a)
Failure by Borrower or Parent to pay any monetary amount when due under any Loan Document.

 

(b)
Failure by Borrower or Parent to pay any monetary amount (i) within ten (10) days of when due and payable, if such amount is due
with respect to an employee contract or other arrangement for the payment of employees of Borrower or Parent, (ii) within ten
(10) days of when due and payable, if such amount is due with respect to a regular monthly, quarterly or annual payment of rent,
and (iii) within thirty (30) days of when due and payable, with respect utility payments.

 

(c)
Failure by Borrower or Parent to comply with any term or condition applicable to Borrower or Parent under any Loan Document and
the expiration of thirty (30) days after written notice of such failure by Lender to Borrower.

 

(d)
Any representation or warranty by Borrower or Parent in any Loan Document is materially false, incorrect, or misleading as of
the date made.

 

(e)
Any final, non-appealable adverse decision, report or material penalty resulting from an inspection of Borrower’s operations
or facility by any governmental authority.

 

(f)
Borrower or Parent (i) is unable or admits in writing its inability to pay its respective monetary obligations as they become
due, (ii) makes a general assignment for the benefit of creditors, or (iii) applies for, consents to, or acquiesces
in, the appointment of a trustee, receiver, or other custodian for itself or its property or any part thereof, or in the absence
of such application, consent, or acquiescence, a trustee, receiver, or other custodian is appointed for it or its property or
any part thereof, and such appointment is not discharged within sixty (60) days.

 

(g)
Commencement of any case under the Bankruptcy Code, Title 11 of the United States Code, or commencement of any other bankruptcy
arrangement, reorganization, receivership, custodianship, or similar proceeding under any federal, state, or foreign law by or
against Borrower or Parent and with respect to any such case or proceeding that is involuntary, such case or proceeding is not
dismissed with prejudice within sixty (60) days of the filing thereof.

 

(h)
Commencement of any action or proceeding which seeks as one of its remedies the dissolution of Borrower or Parent.

 

     

     

    

 

(i)
One or more final, non-appealable judgments from a court or before any governmental commission, board or authority which result
in adverse determination against the Borrower in excess of Two Million ($2,000,000) in the aggregate.

 

(j)
The failure to timely pay rent, utilities or employee wages.

 

(k)
All or any material part of the property of Borrower or Parent is attached, levied upon, or otherwise seized by legal process,
and such attachment, levy, or seizure is not quashed, stayed, or released within thirty (30) days of the date thereof.

 

(l)
The occurrence of any default under any other Loan Document, including, without limitation, any default in any agreement, obligation
or instrument between Borrower or Parent and any affiliate of Lender, which continues beyond any applicable notice and cure period.

 

9.
REMEDIES. Upon the occurrence of an Event of Default, then at the option of Lender, the entire balance of principal together
with all accrued interest thereon, and all other amounts payable by Borrower under the Loan Documents shall, without demand or
notice, immediately become due and payable. Upon the occurrence of an Event of Default (and so long as such Event of Default shall
continue), all amounts due and payable by Borrower under the Loan Documents shall bear interest at the Default Interest Rate,
subject to the limitations contained in Paragraph 14 hereof. No delay or omission on the part of the holder hereof in exercising
any right under this Note or under any of the other Loan Documents hereof shall operate as a waiver of such right.

 

10.
WAIVER. Borrower, endorsers, guarantors, and sureties of this Note hereby waive diligence, demand for payment, presentment
for payment, protest, notice of nonpayment, notice of protest, notice of intent to accelerate, notice of acceleration, notice
of dishonor, and notice of nonpayment, and all other notices or demands of any kind (except notices specifically provided for
in the Loan Documents) and expressly agree that, without in any way affecting the liability of Borrower, endorsers, guarantors,
or sureties, the holder hereof may extend any maturity date or the time for payment of any installment due hereunder, otherwise
modify the Loan Documents, accept additional security, release any Person liable, and release any security or guaranty. Borrower,
endorsers, guarantors, and sureties waive, to the full extent permitted by law, the right to plead any and all statutes of limitations
as a defense.

 

11.
CHANGE, DISCHARGE, TERMINATION, OR WAIVER. No provision of this Note may be changed, discharged, terminated, or waived
except in a writing signed by the party against whom enforcement of the change, discharge, termination, or waiver is sought. No
failure on the part of the holder hereof to exercise and no delay by the holder hereof in exercising any right or remedy under
this Note or under the law shall operate as a waiver thereof.

 

12.
ATTORNEYS’ FEES. If this Note is not paid when due or if any Event of Default occurs, Borrower promises to pay all
reasonable and documented costs of enforcement and collection and preparation therefor, including but not limited to, reasonable
attorneys’ fees, whether or not any action or proceeding is brought to enforce the provisions hereof (including, without
limitation, all such costs incurred in connection with any bankruptcy, receivership, or other court proceedings (whether at the
trial or appellate level)).

 

     

     

    

 

13.
SEVERABILITY. If any provision of this Note is unenforceable, the enforceability of the other provisions shall not be affected
and they shall remain in full force and effect.

 

14.
INTEREST RATE LIMITATION. Borrower hereby agrees to pay an effective rate of interest that is the sum of the interest rate
provided for herein, together with any additional rate of interest resulting from any other charges of interest or in the nature
of interest paid or to be paid in connection with the Loan, including, any other fees to be paid by Borrower pursuant to the provisions
of the Loan Documents. Lender and Borrower agree that none of the terms and provisions contained herein or in any of the Loan
Documents shall be construed to create a contract for the use, forbearance or detention of money requiring payment of interest
at a rate in excess of the maximum interest rate permitted to be charged by the laws of the State of Arizona. In such event, if
any holder of this Note shall collect monies which are deemed to constitute interest which would otherwise increase the effective
interest rate on this Note to a rate in excess of the maximum rate permitted to be charged by the laws of the State of Arizona,
all such sums deemed to constitute interest in excess of such maximum rate shall, at the option of the holder, be credited to
the payment of other amounts payable under the Loan Documents or returned to Borrower.

 

15.
NUMBER AND GENDER. In this Note the singular shall include the plural and the masculine shall include the feminine and
neuter gender, and vice versa.

 

16.
HEADINGS. Headings at the beginning of each numbered section of this Note are intended solely for convenience and are not
part of this Note.

 

17.
INTEGRATION. The Loan Documents contain the complete understanding and agreement of the holder hereof and Borrower and
supersede all prior representations, warranties, agreements, arrangements, understandings, and negotiations.

 

18.
BINDING EFFECT. The Loan Documents will be binding upon, and inure to the benefit of, the holder hereof, Borrower, and
their respective successors and assigns. Borrower may not delegate its obligations under the Loan Documents.

 

19.
SURVIVAL. The representations, warranties, and covenants of the Borrower in the Loan Documents shall survive the execution
and delivery of the Loan Documents and the making of the Loan.

 

20.
GOVERNING LAW; JURISDICTION.

 

(a)
THIS NOTE HAS BEEN DELIVERED IN ARIZONA, AND SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF ARIZONA,
WITHOUT GIVING EFFECT TO CONFLICT OF LAWS PRINCIPLES.

 

(b)
Borrower irrevocably and unconditionally agrees that it will not commence any action, litigation or proceeding of any kind or
description, whether in law or equity, whether in contract or in tort or otherwise, against the Lender or any affiliate of the
Lender in any way relating to this Note or any other Loan Document or the transactions relating hereto or thereto, in any forum
other than the courts of the State of Arizona sitting in Maricopa County, and of the United States District Court of the District
of Arizona , and any appellate court from any thereof, and each of the parties hereto irrevocably and unconditionally submits
to the jurisdiction of such courts and agrees that all claims in respect of any such action, litigation or proceeding may be heard
and determined in such Arizona State court or, to the fullest extent permitted by applicable law, in such federal court. Each
of the parties hereto agrees that a final judgment in any such action, litigation or proceeding shall be conclusive and may be
enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Note or in any
other Loan Document shall affect any right that the Lender may otherwise have to bring any action or proceeding relating to this
Note or any other Loan Document against the Borrower or any other Loan Party or its properties in the courts of any jurisdiction.

 

21.
JURY WAIVER. BORROWER AND LENDER (BY ITS ACCEPTANCE HEREOF) HEREBY VOLUNTARILY, KNOWINGLY, IRREVOCABLY AND UNCONDITIONALLY
WAIVE ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE (WHETHER BASED UPON CONTRACT, TORT OR OTHERWISE) BETWEEN OR
AMONG BORROWER AND LENDER ARISING OUT OF OR IN ANY WAY RELATED TO THIS NOTE OR ANY OTHER RELATED DOCUMENT OR LOAN DOCUMENT. THIS
PROVISION IS A MATERIAL INDUCEMENT TO LENDER TO PROVIDE THE FINANCING DESCRIBED HEREIN OR IN THE OTHER LOAN DOCUMENTS.

 

22.
TIME OF THE ESSENCE. Time is of the essence with regard to each provision of the Loan Documents as to which time is a factor.

 

[SIGNATURE
PAGE FOLLOWS]

 

     

     

    

 

IN
WITNESS WHEREOF, Borrower has executed this Note as of the date first written above.

 

	 	True Harvest Holdings, Inc., a Delaware corporation
	 	 	 
	 	By:	      
	 	Name:	 
	 	Title:Debt Settlement Agreement with Mr. Lim Hun Beng

  Exhibit 10.1
  
 THE SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”), AND ARE PROPOSED TO BE ISSUED IN RELIANCE UPON AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT PROVIDED BY REGULATION S PROMULGATED UNDER THE SECURITIES ACT. UPON ANY SALE, SUCH SECURITIES MAY NOT BE REOFFERED FOR SALE OR RESOLD OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO U.S. PERSONS EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS UNDER THE SECURITIES ACT AND IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE STATE SECURITIES LAWS. HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES ACT.
  
  
 DEBT SETTLEMENT AGREEMENT
  
 THIS AGREEMENT is made effective as of the 9th day of March, 2021.
  
 BETWEEN:
 LIM HUN BENG
 with an address at No 21, Denai Endau 3,Seri Tanjung
 Pinang,10470 Tanjung Tokong, Penang, Malaysia
 _____________________________________________
  
 (the "Creditor")
 OF THE FIRST PART
  
 AND:
 DUESENBERG TECHNOLOGIES INC., a British Columbia
 company with a corporate office at
 No 21, Denai Endau 3,Seri Tanjung Pinang,
 10470 Tanjung Tokong, Penang, Malaysia
 _____________________________________________
  
 (the “Company")
 OF THE SECOND PART
  
 WHEREAS:
  
 A.As of the date of this Agreement, the Company was indebted to the Creditor in the amount of the Indebtedness for services provided by the Creditor; and 
  
 B.The Creditor and the Company have agreed to settle the Indebtedness by issuance to the Creditor of  common shares of the Company at a price of $0.75 per share on the terms and conditions set out herein, 
  
 THE PARTIES HEREBY AGREE AS FOLLOWS:
  
 1.DEFINITIONS 
  
 1.1The following terms will have the following meanings for all purposes of this Agreement. 
  
 (a)"Agreement" means this Debt Settlement Agreement, and all schedules and amendments to in the Agreement; 
  
 (b)"Exchange Act" means the United States Securities Exchange Act of 1934, as amended; 
 
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 (c)“Indebtedness” means the indebtedness of the Company to the Creditor in the amount of $77,103.26, 
  
 (d)“MI 51-105” means Multilateral Instrument 51-105 - Issuers Quoted in the U.S. Over-the-Counter Markets of the Canadian Securities Administrators, as amended; 
  
 (e)“NI 45-106” means National Instrument 45-106 - Prospectus and Registration Exemptions of the Canadian Securities Administrators, as amended; 
  
 (f)“Offered Securities” means the Shares; 
  
 (g)"Offering" means the offering of the Offered Securities being made by the Company pursuant to this Agreement; 
  
 (h)“Purchase Price” means the purchase price payable by the Creditor to the Company in consideration for the purchase and sale of the Shares in accordance with Section 2.1 of this Agreement; 
  
 (i)"SEC" means the United States Securities and Exchange Commission; 
  
 (j)"Securities Act" means the United States Securities Act of 1933, as amended; 
  
 (k)"Shares" means common shares of the Company. 
  
 1.2All dollar amounts referred to in this agreement are in United States funds, unless expressly stated otherwise. 
  
 2.PURCHASE AND SALE OF SHARES 
  
 2.1Subject to the terms and conditions of this Agreement, the Creditor hereby subscribes for and agrees to purchase from the Company 102,804 Shares at a price equal to $0.75 per Share (the “Purchase Price”).  Upon execution, the subscription by the Creditor for the Shares will be irrevocable. 
  
 2.2Notwithstanding any other provision of this Agreement, the Company’s obligation to issue Shares to the Creditor under the terms of this Agreement is conditional upon the Offering and the sale of the Shares to the Creditor complying with all securities laws and other applicable laws of the jurisdiction in which the Creditor is resident.  The Creditor agrees to deliver to the Company all other documentation, agreements, representations and requisite government forms required by the lawyers for the Company as required to comply with all securities laws and other applicable laws of the jurisdiction of the Creditor. 
  
 2.3The Creditor hereby authorizes and directs the Company to deliver the securities to be issued to such Creditor pursuant to this Agreement to the Creditor’s address indicated on the first page of this Agreement. 
  
 3.SETTLEMENT OF INDEBTEDNESS 
  
 3.1The Company and the Creditor agree to offset the full amount of the Purchase Price against the full amount of the Indebtedness. 
  
 3.2Forthwith upon the execution of this Agreement by the Creditor and the Company, the Company agrees to deliver to the Creditor a share certificate representing the Shares issuable under this Agreement. 
 
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 3.3Upon the delivery by the Company of the share certificate representing the Shares issuable under this Agreement, the Creditor agrees to remise, release and forever discharge the Company and its respective directors, officers, servants and agents (collectively the “Releasees”) from any and all debts, obligations, claims, demands, dues, actions and causes of action whatsoever, at law or in equity, and whether known or unknown, suspected or unsuspected which the Creditor has or may in the future have against the Releasees or any of them with respect to any matter relating to the Indebtedness, whether on account of principal, interest or otherwise. 
  
 4.U.S. RESTRICTED SHARE AGREEMENTS OF THE CREDITOR 
  
 4.1The Creditor represents and warrants to the Company that the Creditor is not a “U.S. Person” as defined by Regulation S of the Securities Act and is not acquiring the Shares for the account or benefit of a U.S. Person.  A copy of the definition of a US Person as set out in Regulation S is attached as Schedule A to this Agreement. 
  
 4.2The Creditor acknowledges, represents and warrants to the Company that the Creditor was not in the United States both at the time the offer to purchase the Shares was received and at the time the Creditor’s decision to purchase the Shares was made. 
  
 4.3The Creditor acknowledges that the Shares are “restricted securities” within the meaning of the Securities Act and will be issued to the Creditor in accordance with Regulation S of the Securities Act. 
  
 4.4The Creditor agrees not to engage in hedging transactions with regard to the Shares unless in compliance with the Securities Act. 
  
 4.5The Creditor agrees to resell the Shares only in accordance with the provisions of Regulation S of the Securities Act, pursuant to an effective registration statement under the Securities Act or pursuant to an available exemption from the registration requirements of the Securities Act, and in each case in accordance with any applicable state securities laws.  The Creditor further agrees that the Company will refuse to register any transfer of the Shares not made in accordance with the provisions of Regulation S of the Securities Act, pursuant to an effective registration statement under the Securities Act or pursuant to an available exemption from the registration requirements of the Securities Act, and in each case in accordance with any applicable state securities laws. 
  
 4.6The Creditor acknowledges and agrees that all certificates representing the Shares will be endorsed with restrictive legends substantially similar to the following in accordance with Regulation S of the Securities Act and MI 51-105: 
  
 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”), AND HAVE BEEN ISSUED IN RELIANCE UPON AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT PROVIDED BY REGULATION S PROMULGATED UNDER THE SECURITIES ACT.   SUCH SECURITIES MAY NOT BE REOFFERED FOR SALE OR RESOLD OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, AND IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE STATE SECURITIES LAWS.  HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES ACT.”
  
 “THE HOLDER OF THIS SECURITY MUST NOT TRADE THE SECURITY IN OR FROM A JURISDICTION IN CANADA UNLESS THE CONDITIONS IN SECTION 13 OF MULTILATERAL INSTRUMENT 51-105 ISSUERS QUOTED IN THE U.S. OVER-THE-COUNTER MARKETS ARE MET.”
 
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 5.ADDITIONAL AGREEMENTS, COVENANTS, REPRESENTATIONS AND WARRANTIES OF THE CREDITOR 
  
 The Creditor agrees, covenants, represents and warrants with and to the Company as follows, and acknowledges that the Company is relying upon such agreements, covenants, representations and warranties in connection with the sale of the Shares to such Creditor:
  
 5.1The Creditor is an “accredited investor” as that term is defined in NI 45-106 and the Creditor has completed, signed, and delivered with this Agreement, a copy of the Canadian Accredited Investor Certificate and Risk Acknowledgement Form attached as Schedules A and B to this Agreement. 
  
 5.2The Creditor acknowledges and agrees that (i) the Company is an “OTC reporting issuer” as that term is defined in MI 51-105, (ii) the Offered Securities may not be traded in or from a jurisdiction in Canada unless the following conditions have been met, (iii) the Creditor will comply with such conditions in making any trade of the Offered Securities in or from a jurisdiction in Canada and (iv) the Company will refuse to register any transfer of the Offered Securities made in connection with a trade of the Offered Securities in or from a jurisdiction in Canada and not made in accordance with the provisions of MI 51-105: 
  
 (a)A four month period has passed from the later of (i) the date that the Company distributed the Offered Securities, and (ii) the date the Offered Securities were distributed by a control person of the Company; 
  
 (b)If the person trading the Offered Securities is a control person of the Company, such person has held the Offered Securities for at least 6 months; 
  
 (c)The number of Offered Securities that the person proposes to trade, plus the number of securities of the same class that such person has traded in the preceding 12 months, does not exceed 5% of the Company’s outstanding securities of the same class; 
  
 (d)The trade is made through an investment dealer registered in a jurisdiction in Canada; 
  
 (e)The investment dealer executes the trade through any of the over-the-counter markets in the United States; 
  
 (f)There has been no unusual effort made to prepare the market or create a demand for the Offered Securities; 
  
 (g)No extraordinary commission or other consideration is paid to a person for the trade; 
  
 (h)If the person trading the Offered Securities is an insider of the Company, the person reasonably believes that the Company is not in default of securities legislation; and 
  
 (i)All certificates representing the Offered Securities bear the Canadian restrictive legend set out in Section 13(1) of MI 51-105. 
  
 5.3The Creditor represents and warrants that it is a resident of the jurisdiction specified in the Creditor’s address as set out in the first page to this Agreement and that it does not presently intend to trade any of the Offered Securities in or from a jurisdiction in Canada.  If the Creditor does, in the future, intend to trade the Offered Securities in or from a jurisdiction in Canada, it will, in addition to complying with the provisions of Section 4.2, re-submit all certificates representing the Offered Securities to the Company for purposes of having the legend set out in Section 13(1) of MI 51-105 endorsed on such certificates. 
  
 
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 5.4The Creditor acknowledges that an investment in the Company is highly speculative, and involves a high degree of risk as the Company is in the early stages of developing its business, and may require substantial funds in addition to the proceeds of this private placement, and that only creditors who can afford the loss of their entire investment should consider investing in the Company.  The Creditor is an investor in securities of businesses in the development stage and acknowledges that the Creditor is able to fend for himself/herself/itself, can bear the economic risk of the Creditor's investment, and has such knowledge and experience in financial or business matters such that the Creditor is capable of evaluating the merits and risks of an investment in the Company’s securities as contemplated in this Agreement. 
  
 5.5If the Creditor is not an individual, was not organized for the purpose of acquiring the Offered Securities. 
  
 5.6The Creditor has had full opportunity to review the Company’s periodic filings with the SEC pursuant to the Exchange Act, and the Company’s filings on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR), including, but not limited to, the Company’s annual reports, quarterly reports, current reports and additional information regarding the business and financial condition of the Company.  The Creditor has had full opportunity to ask questions and receive answers from the Company regarding this information, and to review and discuss this information with the Creditor's legal and financial advisors.  The Creditor believes he/she/it has received all the information he/she/it considers necessary or appropriate for deciding whether to purchase the Shares and that the Creditor has had full opportunity to discuss this information with the Creditor’s legal and financial advisors prior to executing this Agreement. 
  
 5.7The Creditor acknowledges that the offering of the Offered Securities by the Company has not been reviewed by the SEC or any other securities commission or regulatory body, and that the Offered Securities are being issued by the Company pursuant to an exemption from registration under the Securities Act and an exemption from the prospectus requirements under applicable Canadian securities laws. 
  
 5.8The Creditor understands that the Offered Securities will be characterized as "restricted securities" under the Securities Act as they are being acquired from the Company in a transaction not involving a public offering and that, under the Securities Act and the regulations promulgated thereunder, such securities may be resold without registration under the Securities Act only in certain limited circumstances. The Creditor represents that the Creditor is familiar with SEC Rule 144, as presently in effect, and understands the resale limitations imposed thereby and by the Securities Act. 
  
 5.9The Offered Securities will be acquired by the Creditor for investment for the Creditor's own account, not as a nominee or agent, and not with a view to the resale or distribution of any part thereof, and that the Creditor has no present intention of selling, granting any participation in, or otherwise distributing the same.  The Creditor does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to such person or to any third person, with respect to any of the Offered Securities. 
  
 5.10The Creditor is not aware of any advertisement or general solicitation regarding the offer or sale of the Company’s securities. 
  
 5.11This Agreement has been duly authorized, validly executed and delivered by the Creditor. 
  
  
 
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 5.12The Creditor acknowledges that this Agreement and the Schedules hereto require the Creditor to provide certain personal information to the Company.  Such information is being collected by the Company for the purposes of completing the Offering, which includes, without limitation, determining the Creditor's eligibility to purchase the Offered Securities and any other securities issuable hereunder under applicable securities laws, or preparing and registering certificates representing the Offered Securities to be issued to the Creditor, as the case may be, and completing filings required by any stock exchange or securities regulatory authority. The Creditor's personal information may be disclosed by the Company to stock exchanges or securities or other regulatory authorities, and any of the other parties involved in the Offering, including the Company’s legal counsel, and may be included in record books in connection with the Offering. By executing this Agreement, the Creditor is deemed to be consenting to the foregoing collection, use and disclosure of the Creditor's personal information. The Creditor also consents to the filing of copies or originals of any of the Creditor's documents described herein as may be required to be filed with any stock exchange or securities or other regulatory authority in connection with the transactions contemplated hereby. 
  
 5.13The Creditor has satisfied himself/herself/itself as to the full observance of the laws of the Creditor's jurisdiction in connection with any invitation to subscribe for the Offered Securities or any use of this Agreement, including (i) the legal requirements within the Creditor's jurisdiction for the purchase of the Offered Securities; (ii) any foreign exchange restrictions applicable to such purchase; (iii) any governmental or other consents that may need to be obtained; (iv) the income tax and other tax consequences, if any, that may be relevant to an investment in the Offered Securities; and (v) any restrictions on transfer applicable to any disposition of the Offered Securities imposed by the jurisdiction in which the Creditor is resident. 
  
 6.REPRESENTATIONS BY THE COMPANY 
  
 6.1The Company represents and warrants to the Creditor that: 
  
 (a)The Company is a corporation duly organized, existing and in good standing under the laws of the Province of British Columbia and has the corporate power to conduct the business which it conducts and proposes to conduct. 
  
 (b)The Shares, when issued in accordance with the terms and conditions of this Agreement, will be duly and validly issued, fully paid and non-assessable common shares in the capital of the Company. 
  
 7.MISCELLANEOUS 
  
 7.1Any notice or other communication given hereunder shall be deemed sufficient if in writing and sent by registered or certified mail, return receipt requested, addressed to the Company, at its corporate office at 820 - 1130 West Pender Street Vancouver, BC  V6E4A4, and to the Creditor at his/her/its address indicated on the last page of this Agreement. Notices shall be deemed to have been given on the date of mailing, except notices of change of address, which shall be deemed to have been given when received. 
  
 7.2The parties agree to execute and deliver all such further documents, agreements and instruments and take such other and further action as may be necessary or appropriate to carry out the purposes and intent of this Agreement. 
  
  
 
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 7.3The Creditor agrees that the representations, warranties and covenants of the Creditor herein will be true and correct both as of the execution of this Agreement and as of the date of this Agreement will survive the closing of the transactions contemplated in this Agreement.  The representations, warranties and covenants of the Creditor herein are made with the intent that they be relied upon by the Company in determining the eligibility of a purchaser of Offered Securities and the Creditor agrees to indemnify the Company and its respective trustees, affiliates, shareholders, directors, officers, partners, employees, advisors and agents against all losses, claims, costs, expenses and damages or liabilities which any of them may suffer or incur which are caused or arise from a breach thereof.  The Creditor undertakes to immediately notify the Company at the address set out above of any change in any statement or other information relating to the Creditor set forth herein. 
  
 7.4Time shall be of the essence hereof. 
  
 7.5This Agreement represents the entire agreement of the parties hereto relating to the subject matter hereof and there are no representations, covenants or other agreements relating to the subject matter hereof except as stated or referred to herein. 
  
 7.6The terms and provisions of this Agreement shall be binding upon and enure to the benefit of the Creditor and the Company and their respective heirs, executors, administrators, successors and assigns; provided that, except for the assignment by a Creditor who is acting as nominee or agent to the beneficial owner and as otherwise herein provided, this Agreement shall not be assignable by any party without prior written consent of the other parties. 
  
 7.7The Creditor, on his/her/its own behalf and, if applicable, on behalf of others for whom he/she/it is contracting hereunder, agrees that this subscription is made for valuable consideration and may not be withdrawn, cancelled, terminated or revoked by the Creditor, on his/her/its own behalf and, if applicable, on behalf of others for whom he/she/it is contracting hereunder. 
  
 7.8Neither this Agreement nor any provision hereof shall be modified, changed, discharged or terminated except by an instrument in writing signed by the party against whom any waiver, change, discharge or termination is sought. 
  
 7.9The invalidity, illegality or unenforceability of any provision of this Agreement shall not affect the validity, legality or enforceability of any other provision hereof. 
  
 7.10The headings used in this Agreement have been inserted for convenience of reference only and shall not affect the meaning or interpretation of this Agreement or any provision hereof. 
  
 7.11Notwithstanding the place where this Agreement may be executed by any of the parties hereto, the parties expressly agree that all the terms and provisions hereof shall be construed in accordance with and governed by the laws of the province of British Columbia. 
  
 7.12This Agreement may be executed in one or more counterparts, all of which will be considered one and the same agreement and will become effective when one or more counterparts have been signed by each party and delivered to the other party, it being understood that all parties need not sign the same counterpart. 
 
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 IN WITNESS WHEREOF, this Agreement is executed as of the day and year first written above.
  
 by its authorized signatory:
  
 /s/ LIM HUN BENG
 Name: LIM HUN BENG
 Passport No: [REDACTED]
  
 DUESENBERG TECHNOLOGIES INC.
 by its authorized signatory:
  
  
 /s/ LIONG FOOK WENG
 Name: LIONG FOOK WENG
 Title: Director/Chief Financial Officer
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 
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 SCHEDULE A
  
 ACCREDITED INVESTOR CERTIFICATE
  
 The Creditor represents and warrants to Duesenberg Technologies Inc. (the “Company”) that the Creditor has read the following definition of an “accredited investor” from National Instrument 45-106 - Prospectus and Registration Exemptions and certifies that the Creditor is an accredited investor by virtue of falling into one or more of the categories below (please initial the appropriate box below):
  
 	 Initials
	  
	  

	 ____
	 (a)
	 except in Ontario, a Canadian financial institution, or a Schedule III bank,

	  
	  
	  

	 ____
	 (b)
	 except in Ontario, the Business Development Bank of Canada incorporated under the Business Development Bank of Canada Act (Canada),

	  
	  
	  

	 ____
	 (c)
	 except in Ontario, a subsidiary of any person referred to in paragraphs (a) or (b), if the person owns all of the voting securities of the subsidiary, except the voting securities required by law to be owned by directors of that subsidiary,

	  
	  
	  

	 ____
	 (d)
	 except in Ontario, a person registered under the securities legislation of a jurisdiction of Canada as an adviser or dealer,

	  
	  
	  

	 ____
	 (e)
	 an individual registered under the securities legislation of a jurisdiction of Canada as a representative of a person referred to in paragraph (d),

	  
	  
	  

	 ____
	 (e.1)
	 an individual formerly registered under the securities legislation of a jurisdiction of Canada, other than an individual formerly registered solely as a representative of a limited market dealer under one or both of the Securities Act (Ontario) or the Securities Act (Newfoundland and Labrador),

	  
	  
	  

	 ____
	 (f)
	 except in Ontario, the Government of Canada or a jurisdiction of Canada, or any crown corporation, agency or wholly owned entity of the Government of Canada or a jurisdiction of Canada,

	  
	  
	  

	 ____
	 (g)
	 except in Ontario, a municipality, public board or commission in Canada and a metropolitan community, school board, the Comité de gestion de la taxe scolaire de l’île de Montréal or an intermunicipal management board in Québec,

	  
	  
	  

	 ____
	 (h)
	 except in Ontario, any national, federal, state, provincial, territorial or municipal government of or in any foreign jurisdiction, or any agency of that government,

	  
	  
	  

	 ____
	 (i)
	 except in Ontario, a pension fund that is regulated by the Office of the Superintendent of Financial Institutions (Canada), a pension commission or similar regulatory authority of a jurisdiction of Canada,

	  
	  
	  

	 ____
	 (j)
	 an individual who, either alone or with a spouse, beneficially owns financial assets having an aggregate realizable value that, before taxes but net of any related liabilities, exceeds CAD$1,000,000,

	  
	  
	  

	 ____
	 (j.1)
	 an individual who beneficially owns financial assets having an aggregate realizable value that, before taxes but net of any related liabilities, exceeds CAD$5,000,000,

 
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 	 Initials
	  
	  

	 ____
	 (k)
	 an individual whose net income before taxes exceeded CAD$200,000 in each of the two most recent calendar years or whose net income before taxes combined with that of a spouse exceeded CAD$300,000 in each of the two most recent calendar years and who, in either case, reasonably expects to exceed that net income level in the current calendar year,

	  
	  
	  

	 ____
	 (l)
	 an individual who, either alone or with a spouse, has net assets of at least CAD$5,000,000,

	  
	  
	  

	 ____
	 (m)
	 a person, other than an individual or investment fund, that has net assets of at least CAD$5,000,000 as shown on its most recently prepared financial statements,

	  
	  
	  

	 ____
	 (n)
	 an investment fund that distributes or has distributed its securities only to:
 (i)   a person that is or was an accredited investor at the time of the distribution,
 (ii)  a person that acquires or acquired securities in the circumstances referred to in NI 45-106 sections 2.10 [Minimum amount investment], or 2.19 [Additional investment in investment funds], or
 (iii) a person described in paragraph (i) or (ii) that acquires or acquired securities under NI 45-106 section 2.18 [Investment fund reinvestment],

	  
	  
	  

	 ____
	 (o)
	 an investment fund that distributes or has distributed securities under a prospectus in a jurisdiction of Canada for which the regulator or, in Québec, the securities regulatory authority, has issued a receipt,

	  
	  
	  

	 ____
	 (p)
	 a trust company or trust corporation registered or authorized to carry on business under the Trust and Loan Companies Act (Canada) or under comparable legislation in a jurisdiction of Canada or a foreign jurisdiction, acting on behalf of a fully managed account managed by the trust company or trust corporation, as the case may be,

	  
	  
	  

	 ____
	 (q)
	 a person acting on behalf of a fully managed account managed by that person, if that person is registered or authorized to carry on business as an adviser or the equivalent under the securities legislation of a jurisdiction of Canada or a foreign jurisdiction,

	  
	  
	  

	 ____
	 (r)
	 a registered charity under the Income Tax Act (Canada) that, in regard to the trade, has obtained advice from an eligibility adviser or an adviser registered under the securities legislation of the jurisdiction of the registered charity to give advice on the securities being traded,

	  
	  
	  

	 ____
	 (s)
	 an entity organized in a foreign jurisdiction that is analogous to any of the entities referred to in paragraphs (a) to (d) or paragraph (i) in form and function,

	  
	  
	  

	 ____
	 (t)
	 a person in respect of which all of the owners of interests, direct, indirect or beneficial, except the voting securities required by law to be owned by directors, are persons that are accredited investors,

	  
	  
	  

	 ____
	 (u)
	 an investment fund that is advised by a person registered as an adviser or a person that is exempt from registration as an adviser,

	  
	  
	  

	 ____
	 (v)
	 a person that is recognized or designated by the securities regulatory authority or, except in Ontario and Québec, the regulator as an accredited investor, or

	  
	  
	  

	 ____
	 (w)
	 a trust established by an accredited investor for the benefit of the accredited investor’s family members of which a majority of the trustees are accredited investors and all of the beneficiaries are the accredited investor’s spouse, a former spouse of the accredited investor or a parent, grandparent, brother, sister, child or grandchild of that accredited investor, of that accredited investor’s spouse or of that accredited investor’s former spouse;

  
 Persons described in paragraphs (j), (k) or (l) above must complete Schedule “B” - Risk Acknowledgement Form.
 
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 The representations and warranties made in this certificate are true and accurate as of the date of this certificate and will be true and accurate as of the date of closing of the transaction contemplated by this Agreement.  If any such representations and warranties becomes untrue or inaccurate prior to the closing, the undersigned Creditor will give the Company immediate written notice.
  
 The Creditor acknowledges that the Company will be relying on this certificate in connection with the Agreement.  The statements made in this certificate are true.
  
 Dated 9th March 2021.
  
 	 Signature of Creditor: 
	 /s/ LIM HUN BENG

	  
	  

	 Name of Creditor: 
	 LIM HUN BENG

	  
	  

	 Name and Title of Authorized Signatory of
	  

	 Creditor (if Corporate Creditor):
	  

  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 
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 SCHEDULE B
  
 RISK ACKNOWLEDGEMENT FORM
  
 Form 45-106F9
 Form for Individual Accredited Investors
  
 	 WARNING!
 This investment is risky. Don’t invest unless you can afford to lose all the money you pay for this investment.

  
 	 SECTION 1 TO BE COMPLETED BY THE ISSUER OR SELLING SECURITY HOLDER

	 1. About your investment

	 Type of securities: Shares 
	 Issuer:      Duesenberg Technologies Inc.
	  

	 Purchased from: [Instruction: Indicate whether securities are purchased from the issuer or a selling security holder.] 
  

	 SECTIONS 2 TO 4 TO BE COMPLETED BY THE PURCHASER

	 2. Risk acknowledgement

	  
 This investment is risky. Initial that you understand that:
	 Your
 initials

	 Risk of loss - You could lose your entire investment of $77,103.26. [Instruction: Insert the total dollar amount of the investment.]
	  

	 Liquidity risk - You may not be able to sell your investment quickly - or at all.  
	  

	 Lack of information - You may receive little or no information about your investment. 
	  

	 Lack of advice - You will not receive advice from the salesperson about whether this investment is suitable for you unless the salesperson is registered. The salesperson is the person who meets with, or provides information to, you about making this investment. To check whether the salesperson is registered, go to www.aretheyregistered.ca. 
	  

	 3. Accredited investor status

	 You must meet at least one of the following criteria to be able to make this investment. Initial the statement that applies to you. (You may initial more than one statement.) The person identified in section 6 is responsible for ensuring that you meet the definition of accredited investor. That person, or the salesperson identified in section 5, can help you if you have questions about whether you meet these criteria. 
	 Your
 initials

	 ·Your net income before taxes was more than $200,000 in each of the 2 most recent calendar years, and you expect it to be more than $200,000 in the current calendar year. (You can find your net income before taxes on your personal income tax return.) 
	  

	 ·Your net income before taxes combined with your spouse’s was more than $300,000 in each of the 2 most recent calendar years, and you expect your combined net income before taxes to be more than $300,000 in the current calendar year. 
	  

	 ·Either alone or with your spouse, you own more than $1 million in cash and securities, after subtracting any debt related to the cash and securities. 
	  

	 ·Either alone or with your spouse, you have net assets worth more than $5 million. (Your net assets are your total assets (including real estate) minus your total debt.) 
	  

 
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 	 4. Your name and signature

	 By signing this form, you confirm that you have read this form and you understand the risks of making this investment as identified in this form. 

	 First and last name (please print):  LIM HUN BENG

	 Signature: 
	 Date: 09/03/2021

	 SECTION 5 TO BE COMPLETED BY THE SALESPERSON

	 5. Salesperson information 

	 [Instruction: The salesperson is the person who meets with, or provides information to, the purchaser with respect to making this investment. That could include a representative of the issuer or selling security holder, a registrant or a person who is exempt from the registration requirement.]

	 First and last name of salesperson (please print):

	 Telephone: 
	 Email:

	 Name of firm (if registered):

	 SECTION 6 TO BE COMPLETED BY THE ISSUER OR SELLING SECURITY HOLDER

	 6. For more information about this investment

	 For investment in a non-investment fund
  
 Duesenberg Technologies Inc.
 No 21, Denai Endau 3,Seri Tanjung Pinang,10470 Tanjung Tokong, Penang, Malaysia,
 Attention: Liong Fook Weng, CFO
  
 For more information about prospectus exemptions, contact your local securities regulator. You can find contact information at www.securities-administrators.ca
  

  
  
  
  
  
  
  
  
  
  
  
  
  
 
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