Document:

Exhibit
10.9

 

SECURITY
AGREEMENT

 

THIS
SECURITY AGREEMENT (this “Agreement”), dated effective as of the Original Issue Date (as defined in the Notes) (the
“Effective Date”), is made by and among SONDORS Inc., a Delaware corporation (the “Company”), each
such Holder of Notes (as defined below) (each, a “Secured Party” and collectively, the “Secured Parties”)
and Falcon Capital Partners Limited (the “Agent”).

 

R
E C I T A L S :

 

A. The
Secured Parties have severally agreed to extend loans to the Company evidenced by the Notes (as defined below).

 

B. Pursuant
to the terms of the Notes, the Company and Agent are required to execute and deliver this Agreement to the Secured Parties.

 

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

 

1. Certain
Definitions. As used in this Agreement, the following terms shall have the meanings set forth in this Section 1. Terms used
but not otherwise defined in this Agreement that are defined in Article 9 of the Code (such as “general intangibles” and
“proceeds”) shall have the respective meanings given such terms in Article 9 of the Code. Capitalized terms used but not
otherwise defined in this Agreement shall have the meanings ascribed to them in the Notes, as the case may be.

 

(a) “Accounts”
means accounts (as that term is defined in the Code).

 

(b) “Code”
means the California Uniform Commercial Code, as in effect from time to time; provided, however, that in the event that,
by reason of mandatory provisions of law, any or all of the attachment, perfection, priority, or remedies with respect to Lender’s
Lien on any Collateral is governed by the Uniform Commercial Code as enacted and in effect in a jurisdiction other than the State of
California, the term “Code” shall mean the Uniform Commercial Code as enacted and in effect in such other jurisdiction
solely for purposes of the provisions thereof relating to such attachment, perfection, priority, or remedies.

 

(c) Collateral
means:

 

(i) all
of the Company’s Accounts;

 

(ii) all
of the Company’s books and records (including all of its Records indicating, summarizing, or evidencing its assets (including the
Collateral) or liabilities, all of its Records relating to its business operations or financial condition, and all of its goods or General
Intangibles related to such information) (“Books”);

 

    	 

     

    

 

(iii) all
of the Company’s chattel paper (as that term is defined in the Code) and, in any event, including, without limitation, tangible
chattel paper and electronic chattel paper (“Chattel Paper”);

 

(iv) all
of the Company’s interest with respect to any Deposit Account;

 

(v) all
of the Company’s Equipment and fixtures;

 

(vi) all
of the Company’s General Intangibles;

 

(vii) all
of the Company’s Intellectual Property Collateral;

 

(viii) all
of the Company’s Inventory;

 

(ix) all
of the Company’s Investment Related Property;

 

(x) all
of the Company’s letters of credit, letter of credit rights, instruments, promissory notes, drafts, and documents (as such terms
may be defined in the Code) (“Negotiable Collateral”);

 

(xi) all
of the Company’s rights in respect of supporting obligations (as such term is defined in the Code), including letters of credit
and guaranties issued in support of Accounts, Chattel Paper, documents, General Intangibles, instruments, or Investment Related Property
(“Supporting Obligations”);

 

(xii) all
of the Company’s interest with respect to any commercial tort claims (as that term is defined in the Code) (“Commercial
Tort Claims”);

 

(xiii) all
of the Company’s money, Cash Equivalents, or other assets of the Company that now or hereafter come into the possession, custody,
or control of Secured Parties; and

 

(xiv) all
of the proceeds and products, whether tangible or intangible, of any of the foregoing, including proceeds of insurance or commercial
tort claims covering or relating to any or all of the foregoing, and any and all Accounts, Books, Chattel Paper, Deposit Accounts, Equipment,
General Intangibles, Inventory, Investment Related Property, Negotiable Collateral, Supporting Obligations, money, or other tangible
or intangible property resulting from the sale, lease, license, exchange, collection, or other disposition of any of the foregoing, the
proceeds of any award in condemnation with respect to any of the property of the Company, any rebates or refunds, whether for taxes or
otherwise, and all proceeds of any such proceeds, or any portion thereof or interest therein, and the proceeds thereof, and all proceeds
of any loss of, damage to, or destruction of the above, whether insured or not insured, and, to the extent not otherwise included, any
indemnity, warranty, or guaranty payable by reason of loss or damage to, or otherwise with respect to any of the foregoing Collateral
(the “Proceeds”). Without limiting the generality of the foregoing, the term “Proceeds” includes whatever
is receivable or received when Investment Related Property or proceeds are sold, exchanged, collected, or otherwise disposed of, whether
such disposition is voluntary or involuntary, and includes, without limitation, proceeds of any indemnity or guaranty payable to the
Company or Secured Parties from time to time with respect to any of the Investment Related Property.

 

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(d) “Copyrights”
means all right, title and interest in and to copyrights in works of authorship of any kind, and all registration applications, registrations
and recordings thereof in the Office of the United States Register of Copyrights, Library of Congress, or in any similar office or agency
of any country or political subdivision thereof throughout the world, whether now owned or hereafter acquired, together with all extensions,
renewals, reversionary rights, and corrections thereof and all licenses thereof or pertaining thereto.

 

(e) “Deposit
Account” means a deposit account (as that term is defined in the Code).

 

(f) “Equipment”
means equipment (as that term is defined in the Code).

 

(g) “General
Intangibles” means general intangibles (as that term is defined in the Code and, in any event, including, without limitation,
payment intangibles, contract rights, rights to payment, rights arising under common law, statutes, or regulations, choses or things
in action, goodwill (including the goodwill associated with any Trademark, Patent, or Copyright), Patents, Trademarks, Copyrights, URLs
and domain names, industrial designs, other industrial or intellectual property or rights therein or applications therefor, whether under
license or otherwise, programs, programming materials, blueprints, drawings, purchase orders, customer lists, monies due or recoverable
from pension funds, route lists, rights to payment and other rights under any royalty or licensing agreements, including intellectual
property licenses, infringement claims, computer programs, information contained on computer disks or tapes, software, literature, reports,
catalogs, pension plan refunds, pension plan refund claims, insurance premium rebates, tax refunds, and tax refund claims, uncertificated
securities, and any other personal property other than commercial tort claims, money, Accounts, Chattel Paper, Deposit Accounts, goods,
Investment Related Property, Negotiable Collateral, and oil, gas, or other minerals before extraction).

 

(h) “Intellectual
Property Collateral” means the Copyrights, the Patents and the Trademarks.

 

(i) “Inventory”
means inventory (as that term is defined in the Code).

 

(j) “Investment
Related Property” means investment property (as that term is defined in the Code).

 

(k) “Obligations”
shall mean and include all loans, advances, debts, liabilities and obligations owed by the Company to Secured Parties and by the Company
to Secured Parties of every kind and description, now existing or hereafter arising under or pursuant to the terms of the Note or this
Agreement, respectively, including, all interest, fees, charges, reasonable expenses, reasonable attorneys’ fees and costs and
accountants’ fees and costs chargeable to and payable by the Company under the Note and the Company hereunder, in each case, whether
direct or indirect, absolute or contingent, due or to become due, and whether or not arising after the commencement of a proceeding under
Title 11 of the United States Code (11 U. S. C. Paragraph 101 et seq.), as amended from time to time (including post-petition
interest) and whether or not allowed or allowable as a claim in any such proceeding.

 

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(l) “Patents”
means all right, title and interest in and to all inventions and letters patent and registration applications therefor, and all registrations
and recordings thereof, including, without limitation, registration applications, registrations and recordings in the United States Patent
and Trademark Office or in any similar office or agency of the United States or any state thereof, or in any similar office or agency
of any country or political subdivision thereof throughout the world, whether now owned or hereafter acquired, together with all re-examinations,
reissues, continuations, continuations-in-part, divisions, improvements and extensions thereof and all licenses thereof or pertaining
thereto and all licenses of patent rights now in effect or hereafter entered into and the rights to make, use and sell, and all other
rights with respect to, the inventions disclosed or claimed therein, all inventions, designs, proprietary or technical information, know-how,
other data or information, software, databases, all embodiments or fixations thereof and related documentation, all information having
value in connection with the business relating thereto and all other trade secret rights not described above.

 

(m) “Records”
means information that is inscribed on a tangible medium or which is stored in an electronic or other medium and is retrievable in perceivable
form.

 

(n) “Securities
Accounts” means securities accounts (as that term is defined in the Code).

 

(o) “Trademarks”
means all right, title and interest in and to trademarks, trade names, trade styles, service marks, logos, emblems, prints and labels,
all elements of package or trade dress of goods, and all general intangibles of like nature, now existing or hereafter adopted or acquired,
together with the goodwill of the business connected with the use thereof and symbolized thereby, and all registration applications,
registrations and recordings thereof, including, without limitation, registration applications, registrations and recordings in the United
States Patent and Trademark Office or in any similar office or agency of the United States or in any office of the Secretary of State
(or equivalent) of any state thereof, or in any similar office or agency of any country or political subdivision thereof throughout the
world, whether now owned or hereafter acquired, together with all extensions, renewals and corrections thereof and all licenses thereof
or pertaining thereto.

 

2. Grant
of Security Interest. As an inducement for the Secured Parties to extend the loans as evidenced by the Notes and to secure the complete
and timely payment, performance and discharge in full, as the case may be, of all of the Obligations, the Company hereby unconditionally
and irrevocably pledges, grants and hypothecates to the Agent, as representative of the Secured Parties, for the ratable benefit of the
Secured Parties a security interest in and to, a lien upon and a right of set-off against all of their respective right, title and interest
of whatsoever kind and nature in and to, the Collateral (a “Security Interest” and, collectively, the “Security
Interests”).

 

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3. Representations,
Warranties, Covenants and Agreements of the Company. The Company represents and warrants to, and covenants and agrees with, the Secured
Parties, as of the Effective Date, as follows:

 

(a) The
Company has the requisite corporate power and authority to enter into this Agreement and otherwise to carry out its obligations hereunder.
The execution, delivery and performance by the Company of this Agreement and the filings contemplated therein have been duly authorized
by all necessary action on the part of the Company and no further action is required by the Company. This Agreement has been duly executed
by the Company. This Agreement constitutes the legal, valid and binding obligation of the Company, enforceable against the Company in
accordance with its terms except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization and similar
laws of general application relating to or affecting the rights and remedies of creditors and by general principles of equity.

 

(b) The
Company is the sole owner of the Collateral free and clear of any liens, security interests, encumbrances, rights or claims, and is fully
authorized to grant the Security Interest in and to pledge the Collateral. There is not on file in any governmental or regulatory authority,
agency or recording office an effective financing statement, security agreement, license or transfer or any notice of any of the foregoing
(other than those that have been filed in favor of Secured Parties pursuant to this Agreement) covering or affecting any of the Collateral.
Subject to the terms of this Agreement, so long as this Agreement shall be in effect, the Company shall not execute and shall not knowingly
permit to be on file in any such office or agency any such financing statement or other document or instrument (except to the extent
filed or recorded in favor of Secured Parties pursuant to the terms of this Agreement).

 

(c) The
Company has no places of business or offices where its respective books of account are kept other than its principal offices and temporarily
at the offices of its attorneys or accountants or places where Collateral is stored or located.

 

(d) No
part of the Collateral has been judged invalid or unenforceable. No written claim has been received that any Collateral or the Company’s
use of any Collateral violates the rights of any third party. There has been no adverse decision to the Company’s claim of ownership
rights in or exclusive rights to use the Collateral in any jurisdiction or to the Company’s right to keep and maintain such Collateral
in full force and effect, and there is no proceeding involving said rights pending or, to the best knowledge of the Company, threatened
before any court, judicial body, administrative or regulatory agency, arbitrator or other governmental authority

 

(e) The
Company shall at all times maintain its books of account and records relating to the Collateral at either its principal place of business
or on the Company’s cloud storage accounts and its Collateral at the location set forth for notices to the Company in Section
13 and may not relocate such books of account and records or tangible Collateral unless it delivers to the Agent at least ten (10)
days prior to such relocation (i) written notice of such relocation and the new location thereof (which must be within the contiguous
United States), and (ii) evidence that appropriate financing statements and other necessary documents have been filed and recorded and
other steps have been taken to perfect the Security Interest to create in favor of Secured Parties valid, perfected and continuing first-priority
liens in the Collateral.

 

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(f) This
Agreement creates in favor of Secured Parties a valid security interest in the Collateral securing the payment and performance of the
Obligations and, upon making the filings described in the immediately following sentence, a perfected first-priority security interest
in such Collateral. Except for the filing of financing statements on Form-1 under the Code in the State of California, no authorization
or approval of or filing with or notice to any governmental authority or regulatory body is required either (i) for the grant by the
Company of, or the effectiveness of, the Security Interest granted hereby or for the execution, delivery and performance of this Agreement
by the Company, or (ii) for the perfection of or exercise by Secured Parties of their rights and remedies hereunder.

 

(g) Subject
to the terms of this Agreement, the Company shall at all times maintain the Security Interest provided for hereunder as a valid and perfected
first-priority security interest in the Collateral in favor of Secured Parties until this Agreement and the Security Interest hereunder
shall terminate pursuant to Section 11. the Company shall safeguard and protect all Collateral for the account of Secured Parties.
At the request of Agent, the Company will sign and deliver to the Agent on behalf of the Secured Parties at any time or from time to
time one or more financing statements pursuant to the Code (or any other applicable statute) in a form reasonably satisfactory to the
Agent and will pay the cost of filing the same in all public offices wherever filing is, or is deemed by the Agent to be, necessary or
desirable to effect the rights and obligations provided for herein.

 

(h) the
Company will not transfer, pledge, hypothecate, encumber, license (except for non-exclusive licenses granted by the Company in the ordinary
course of business), sell or otherwise dispose of any of the Collateral without the prior written consent of the Agent.

 

(i) The
Company shall keep and preserve the Collateral in good condition, repair and order and shall not operate or locate any such Collateral
(or cause to be operated or located) in any area excluded from insurance coverage.

 

(j) The
Company shall permit the Agent and its representatives and agents to inspect the Collateral at any time, and to make copies of records
pertaining to the Collateral as may be requested by the Agent from time to time.

 

(k) The
Company will take all steps reasonably necessary to diligently pursue and seek to preserve, enforce and collect any rights, claims, causes
of action and accounts receivable in respect of the Collateral.

 

(l) The
Company shall promptly notify the Agent in sufficient detail upon becoming aware of any attachment, garnishment, execution or other legal
process levied against any Collateral and of any other information received by the Company that may materially affect the value of the
Collateral, the Security Interest or the rights and remedies of Secured Parties hereunder.

 

(m) The
Company agrees not to create, permit or suffer to exist, and the Company will defend the Collateral against, and take such other action
as is necessary to remove, any lien on the Collateral, and will defend, at the Company’s expense, the right, title and interest
of the Secured Parties in and to any of the Company’s rights under the Collateral against the claims and demands of any and all
third parties.

 

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(n) The
Company agrees to maintain insurance policies insuring the Collateral against loss or damage from such risks and in such amounts and
forms and with such companies as are customarily maintained by businesses similar to Company.

 

(o) The
Company agrees to use commercially reasonable efforts to: (i) protect, defend and maintain the validity and enforceability of all Intellectual
Property Collateral material to the Company’s business; and (ii) detect infringements of all Intellectual Property Collateral material
to the Company’s business.

 

(p) The
Company agrees to promptly and duly execute and deliver any and all such further instruments and documents and take such further actions
as the Agent may reasonably deem necessary or desirable to evidence and perfect the Security Interest in any or all of the Collateral
and to obtain the full benefits of this Agreement and of the rights and powers granted herein, including, without limitation, filing
any financing or continuation statements under the Code with respect to the liens and Security Interest granted hereunder. The Company
also hereby authorizes the Agent to file, at the Company’s expense, any such financing or continuation statements and this Agreement
or any amendments hereto without the signature of the Company to the extent allowed by applicable law.

 

4. Defaults.
The following events shall be “Events of Default”:

 

(a) A
default shall occur in the observance or performance of any material covenant, obligation or agreement of the Company under this Agreement,
the Note, the Securities Purchase Agreement of even date herewith or any agreement pursuant to which the Company grants or has granted
a Security Interest in all or any portion of the Collateral, or any other agreement entered into in connection with the transactions
contemplated hereby or thereby;

 

(b) Any
representation or warranty of the Company in this Agreement or the Notes shall prove to have been incorrect in any material respect when
made; or

 

(c) Any
“Event of Default” under the Note.

 

5. Duty
To Hold In Trust. Upon the occurrence of any Event of Default and at any time thereafter, the Company shall, upon receipt by it of
any revenue, income or other sums subject to the Security Interest, whether payable pursuant to the Note or otherwise, or of any check,
draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for Secured Parties
and shall forthwith endorse and transfer any such sums or instruments, or both, to Secured Parties for application to the satisfaction
of the Obligations.

 

6. Rights
and Remedies Upon Default.

 

(a) Upon
the occurrence of any Event of Default and at any time thereafter, the Secured Parties, acting through the Agent, shall have the right
to exercise all of the remedies conferred hereunder and under the Notes, and the Secured Parties shall have all the rights and remedies
of a secured party under the Code. Without limitation, the Agent, for the benefit of the Secured Parties, shall have the rights and powers
listed below and shall act in accordance with such rights and powers:

 

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(i) The
Agent shall have the right to take possession of the Collateral and, for that purpose, enter, with the aid and assistance of any person,
any premises where the Collateral, or any part thereof, is or may be placed and remove the same, and the Company shall assemble the Collateral
and make it available to Agent at places which the Agent shall reasonably select, whether at the Company’s premises or elsewhere,
and make available to the Agent, without rent, all of the Company’s respective premises and facilities for the purpose of the Agent
taking possession of, removing or putting the Collateral in saleable or disposable form.

 

(ii) The
Agent shall have the right to assign, sell, lease or otherwise dispose of and deliver all or any part of the Collateral, at public or
private sale or otherwise, either with or without special conditions or stipulations, for cash or on credit or for future delivery, in
such parcel or parcels and at such time or times and at such place or places, and upon such terms and conditions as the Agent may deem
commercially reasonable, all without (except as shall be required by applicable statute and cannot be waived) advertisement or demand
upon or notice to the Company or right of redemption of the Company, which are hereby expressly waived. Upon each such sale, lease, assignment
or other transfer of Collateral, Agent may, unless prohibited by applicable law which cannot be waived, purchase all or any part of the
Collateral being sold, free from and discharged of all trusts, claims, right of redemption and equities of the Company, which are hereby
waived and released.

 

(b) The
Agent shall comply with any applicable law in connection with a disposition of Collateral and such compliance will not be considered
adversely to affect the commercial reasonableness of any sale of the Collateral. The Agent may sell the Collateral without giving any
warranties and may specifically disclaim such warranties. If the Agent sells any of the Collateral on credit, the Company will only be
credited with payments actually made by the purchaser and received by the Agent or party acting on behalf of the Agent. In addition,
the Company waives any and all rights that it may have to a judicial hearing in advance of the enforcement of any of the Agent’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.

 

(c) For
the purpose of enabling the Agent to further exercise rights and remedies under this Section 6 or elsewhere provided by agreement
or applicable law, the Company hereby grants to the Agent, for the benefit of the Secured Parties, an irrevocable, nonexclusive license
(exercisable without payment of royalty or other compensation to the Company) to use, license or sublicense following an Event of Default,
any Intellectual Property now owned or hereafter acquired by the Company, and wherever the same may be located, and including in such
license access to all media in which any of the licensed items may be recorded or stored and to all computer software and programs used
for the compilation or printout thereof.

 

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7. Applications
of Proceeds. The proceeds of the sale, lease or other disposition of the Collateral hereunder or from payments made on account of
any insurance policy insuring any portion of the Collateral shall be applied first, to the expenses and costs of the Agent in connection
with the Agent’s performance hereunder in connection with the transactions contemplated hereunder (including, without limitation,
any taxes, fees and other costs incurred in connection therewith and any reasonable attorneys’ fees and expenses incurred by the
Agent), and then to satisfaction of the Obligations pro rata among the Secured Parties (based on then-outstanding principal amounts of
the Notes at the time of any such determination), and then to the payment of any other amounts required by applicable law, after which
the Agent shall pay to the Company any surplus proceeds. If, upon the sale, license or other disposition of the Collateral, the proceeds
thereof are insufficient to pay all amounts to which the Agent and the Secured Parties are legally entitled, the Company will be liable
for the deficiency, together with interest thereon, at the rate of 12% per annum or the lesser amount permitted by applicable law (the
“Default Rate”), and the reasonable fees of any attorneys employed by the Agent or the Secured Parties to collect
such deficiency. To the extent permitted by applicable law, the Company waives all claims, damages and demands against the Secured Parties
and the Agent arising out of the repossession, removal, retention or sale of the Collateral, unless due solely to the gross negligence
or willful misconduct of the Secured Parties as determined by a final judgment (not subject to further appeal) of a court of competent
jurisdiction.

 

8. Costs
and Expenses. The Company agrees to pay all reasonable out-of-pocket fees, costs and expenses incurred in connection with any filing
required hereunder, including without limitation, any financing statements pursuant to the Code, continuation statements, partial releases
and/or termination statements related thereto or any expenses of any searches reasonably required by the Agent. The Company shall also
pay all other claims and charges which in the reasonable opinion of the Agent is reasonably likely to prejudice, imperil or otherwise
affect the Collateral or the Security Interests therein. The Company will also, upon demand, pay to the Agent the amount of any and all
reasonable expenses, including the reasonable fees and expenses of its counsel and of any experts and agents, which the Agent, for the
benefit of the Secured Parties, may incur in connection with the protection, satisfaction, foreclosure, collection or enforcement of
the Security Interest and the preparation, administration, continuance, amendment or enforcement of this Agreement and pay to the Agent
the amount of any and all reasonable expenses, including the reasonable fees and expenses of its counsel and of any experts and agents,
which the Agent, for the benefit of the Secured Parties, and the Secured Parties may incur in connection with (i) the enforcement of
this Agreement, (ii) the custody or preservation of, or the sale of, collection from, or other realization upon, any of the Collateral,
or (iii) the exercise or enforcement of any of the rights of collection of the Secured Parties under the Notes. Such fees shall be paid
within 15 days of submission of a request by the Agent to the Company and the Company shall promptly notify the Secured Parties of the
payment of such fees.

 

9. Responsibility
for Collateral. The Company assumes all liabilities and responsibility in connection with all Collateral, and the obligations of
The Company hereunder or the obligations of the Company under the Note shall in no way be affected or diminished by reason of the loss,
destruction, damage or theft of any of the Collateral or its unavailability for any reason.

 

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10. Security
Interests Absolute. All rights of Secured Parties and all Obligations of The Company hereunder, shall be absolute and unconditional,
irrespective of: (i) any lack of validity or enforceability of this Agreement, the Note or any agreement entered into in connection with
the foregoing, or any portion hereof or thereof; (ii) any change in the time, manner or place of payment or performance of, or in any
other term of, all or any of the Obligations, or any other amendment or waiver of or any consent to any departure from the Note or any
other agreement entered into in connection with the foregoing; (iii) any exchange, release or nonperfection of any of the Collateral,
or any release or amendment or waiver of or consent to departure from any other collateral for, or any guaranty, or any other security,
for all or any of the Obligations; (iv) any action by Secured Parties to obtain, adjust, settle and cancel in its sole discretion any
insurance claims or matters made or arising in connection with the Collateral; or (v) any other circumstance which might otherwise constitute
any legal or equitable defense available to The Company, or a discharge of all or any part of the Security Interest granted hereby. Until
the Obligations shall have been paid and performed in full, the rights of Secured Parties shall continue even if the Obligations are
barred for any reason, including, without limitation, the running of the statute of limitations or bankruptcy. The Company expressly
waives presentment, protest, notice of protest, demand, notice of nonpayment and demand for performance. In the event that at any time
any transfer of any Collateral or any payment received by Secured Parties hereunder shall be deemed by final order of a court of competent
jurisdiction to have been a voidable preference or fraudulent conveyance under the bankruptcy or insolvency laws of the United States,
or shall be deemed to be otherwise due to any party other than Secured Parties, then, in any such event, the Company’s obligations
hereunder shall survive cancellation of this Agreement, and shall not be discharged or satisfied by any prior payment thereof and/or
cancellation of this Agreement, but shall remain a valid and binding obligation enforceable in accordance with the terms and provisions
hereof. The Company waives all right to require Secured Parties to proceed against any other person or to apply any Collateral which
Secured Parties may hold at any time, or to marshal assets, or to pursue any other remedy. The Company waives any defense arising by
reason of the application of the statute of limitations to any obligation secured hereby.

 

11. Term
of Agreement. This Agreement and the Security Interests shall terminate on the date on which all payments under the Notes have been
indefeasibly paid in full and all other Obligations have been paid or discharged; provided, however, that all indemnities
of the Company contained in this Agreement shall survive and remain operative and in full force and effect regardless of the termination
of this Agreement or the resignation or removal of the Agent.

 

12. Power
of Attorney; Further Assurances.

 

(a) The
Company authorizes the Agent, acting on behalf of the Secured Parties, as set forth herein, and does hereby make, constitute and appoint
the Agent and its agents, successors or assigns with full power of substitution, as the Company’s true and lawful attorney-in-fact,
with power, in the name of the Agent or the Company, to, after the occurrence and during the continuance of an Event of Default, (i)
endorse any note, checks, drafts, money orders or other instruments of payment (including payments payable under or in respect of any
policy of insurance) in respect of the Collateral that may come into possession of the Agent; (ii) to sign and endorse any financing
statement pursuant to the Code or any invoice, freight or express bill, bill of lading, storage or warehouse receipts, drafts against
debtors, assignments, verifications and notices in connection with accounts, and other documents relating to the Collateral; (iii) to
pay or discharge taxes, liens, security interests or other encumbrances at any time levied or placed on or threatened against the Collateral;
(iv) to demand, collect, receipt for, compromise, settle and sue for monies due in respect of the Collateral; (v) to transfer any Intellectual
Property or provide licenses respecting any Intellectual Property; and (vi) generally, at the option of the Agent, and at the expense
of the Company, at any time, or from time to time, to execute and deliver any and all documents and instruments and to do all acts and
things which the Agent deems necessary to protect, preserve and realize upon the Collateral and the Security Interests granted therein
in order to effect the intent of this Agreement and the Notes all as fully and effectually as the Company might or could do; and the
Company hereby ratifies all that said attorney shall lawfully do or cause to be done by virtue hereof. This power of attorney is coupled
with an interest and shall be irrevocable for the term of this Agreement and thereafter as long as any of the Obligations shall be outstanding.
The designation set forth herein shall be deemed to amend and supersede any inconsistent provision in the Organizational Documents or
other documents or agreements to which the Company is subject or to which the Company is a party. Without limiting the generality of
the foregoing, after the occurrence and during the continuance of an Event of Default, the Agent is specifically authorized to execute
and file any applications for or instruments of transfer and assignment of any patents, trademarks, copyrights or other Intellectual
Property with the United States Patent and Trademark Office and the United States Copyright Office.

 

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(b) On
a continuing basis, the Company will make, execute, acknowledge, deliver, file and record, as the case may be, with the proper filing
and recording agencies in any jurisdiction all such instruments, and take all such action as may reasonably be deemed necessary or advisable,
or as reasonably requested by the Agent, to perfect the Security Interests granted hereunder and otherwise to carry out the intent and
purposes of this Agreement, or for assuring and confirming to the Agent the grant or perfection of a perfected security interest in all
the Collateral under the Code.

 

(c) The
Company hereby irrevocably appoints the Agent as the Company’s attorney-in-fact, with full authority in the place and instead of
the Company and in the name of the Company, to take any action and to execute any instrument which the Agent may deem necessary or advisable
to accomplish the purposes of this Agreement, including the filing of one or more financing or continuation statements and amendments
thereto, relative to any of the Collateral without the signature of the Company where permitted by law, which financing statements may
(but need not) describe the Collateral as “all assets” or “all personal property” or words of like
import, and ratifies all such actions taken by the Agent. This power of attorney is coupled with an interest and shall be irrevocable
for the term of this Agreement and thereafter as long as any of the Obligations shall be outstanding.

 

13. Notices.
Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall
be deemed given and effective on the earliest of: (a) the date of transmission, if such notice or communication is delivered via facsimile
at the facsimile number set forth on the signature pages attached hereto or by electronic mail at the e-mail address set forth on the
signature pages attached hereto prior to 5:30 p.m. (California time) on a Business Day, (b) the next Business Day after the date of transmission,
if such notice or communication is delivered via facsimile at the facsimile number set forth on the signature pages attached hereto or
by electronic mail at the e-mail address set forth on the signature pages attached hereto on a day that is not a Business Day or later
than 5:30 p.m. (California time) on any Business Day, (c) the 2nd Business Day following the date of mailing, if sent by U.S. nationally
recognized overnight courier service or (d) upon actual receipt by the party to whom such notice is required to be given. The address
for such notices and communications shall be as set forth on the signature pages attached hereto or such other address as the recipient
party to whom notice is to be given may have furnished to the other party in writing in accordance herewith.

 

    	11

     

    

 

14. Other
Security. To the extent that the Obligations are now or hereafter secured by property other than the Collateral or by the guarantee,
endorsement or property of any other person, firm, corporation or other entity, then the Agent shall have the right, in its sole discretion,
to pursue, relinquish, subordinate, modify or take any other action with respect thereto, without in any way modifying or affecting any
of the Secured Parties’ rights and remedies hereunder.

 

15. Collateral
Agent.

 

(a) Appointment.
The Secured Parties, by their acceptance of the benefits of the Agreement, hereby designate Falcon Capital Partners Limited as the Agent
to act as specified herein. Each Secured Party shall be deemed irrevocably to authorize the Agent to take such action on its behalf under
the provisions of this Agreement and to exercise such powers and to perform such duties hereunder and thereunder as are specifically
delegated to or required of the Agent by the terms hereof and thereof and such other powers as are reasonably incidental thereto. The
Agent may perform any of its duties hereunder by or through his agents or employees at the expense of the Company as set forth in this
Agreement.

 

(b) Nature
of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in this Agreement. Neither the Agent
nor any of his partners, employees or agents shall be liable for any action taken or omitted by him as such under this Agreement or hereunder
or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any
loss, unless caused solely by him or his gross negligence or willful misconduct as determined by a final judgment (not subject to further
appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall
not have by reason of this Agreement or any other related agreement a fiduciary relationship in respect of the Company or any Secured
Party; and nothing in the Agreement or any other related agreement, expressed or implied, is intended to or shall be so construed as
to impose upon the Agent any obligations in respect of this Agreement or any other related agreement except as expressly set forth herein
and therein.

 

(c) Lack
of Reliance on the Agent. Independently and without reliance upon the Agent, each Secured Party, to the extent it deems appropriate,
has made and shall continue to make (i) its own independent investigation of the financial condition and affairs of the Company and its
subsidiaries in connection with such Secured Party’s investment in the Company, the creation and continuance of the Obligations,
the transactions contemplated by the Transaction Documents, and the taking or not taking of any action in connection therewith, and (ii)
its own appraisal of the creditworthiness of the Company and its subsidiaries, and of the value of the Collateral from time to time,
and the Agent shall have no duty or responsibility, either initially or on a continuing basis, to provide any Secured Party with any
credit, market or other information with respect thereto, whether coming into its possession before any Obligations are incurred or at
any time or times thereafter. The Agent shall not be responsible to the Company or any Secured Party for any recitals, statements, information,
financial statements, representations or warranties herein or in any document, certificate or other writing delivered in connection herewith,
or for the execution, effectiveness, genuineness, validity, enforceability, perfection, collectability, priority or sufficiency of this
Agreement or any other related agreement or any contracts or insurance policies, or for the financial condition of the Company or the
value of any of the Collateral, or be required to make any inquiry concerning either the performance or observance of any of the terms,
provisions or conditions of this Agreement or any other related agreement, or the financial condition of the Company, or the value of
any of the Collateral, or the existence or possible existence of any default or Event of Default under this Agreement, Notes or any of
the other related agreement.

 

    	12

     

    

 

(d) Certain
Rights of the Agent. The Agent shall have the right to take any action with respect to the Collateral, on behalf of all of the Secured
Parties. Whenever reference is made in this Agreement to any action by, consent, designation, specification, requirement or approval
of, notice, request or other communication from, or other direction given or action to be undertaken or to be (or not to be) suffered
or omitted by the Agent to any amendment, waiver or other modification of this Agreement to be executed (or not to be executed) by the
Agent or to any election, decision, opinion, acceptance, use of judgment, expression of satisfaction or other exercise of discretion,
rights or remedies to be made (or not to be made) by the Agent, it is understood that in all cases the Agent shall be fully justified
in failing or refusing to take any such action under this Agreement as it deems appropriate. This provision is intended solely for the
benefit of the Agent and its successors and permitted assigns and is not intended to and will not entitle the other parties hereto to
any defense, claim or counterclaim under or in relation to any Transaction Document, or confer any rights or benefits on any party hereto.
If such instructions are not provided despite the Agent’s request therefor, the Agent shall be entitled to refrain from such act
or taking such action, and if such action is taken, shall be entitled to appropriate indemnification from the Secured Parties in respect
of actions to be taken by the Agent; and the Agent shall not incur liability to any person or entity by reason of so refraining. Without
limiting the foregoing, (a) no Secured Party shall have any right of action whatsoever against the Agent as a result of the Agent acting
or refraining from acting hereunder in accordance with the terms of the Agreement or any other related agreement, and the Company shall
have no right to question or challenge the authority of, or the instructions given to, the Agent pursuant to the foregoing and (b) the
Agent shall not be required to take any action which the Agent believes (i) could reasonably be expected to expose it to personal liability,
or (ii) require it to expend or risk its own funds, or (iii) is contrary to this Agreement, the Notes, any other related agreement or
applicable law.

 

(e) Reliance.
The Agent shall be entitled to conclusively rely, and shall be fully protected in relying, upon any writing, facsimile, resolution, notice,
statement, certificate, telex, teletype or telecopier message, cablegram, radiogram, order or other document or telephone message signed,
sent or made by the proper person or entity, and, with respect to all legal matters pertaining to the Agreement, the Notes and any other
related agreement and its duties thereunder, upon advice of counsel selected by it and upon all other matters pertaining to this Agreement,
the Notes and any other related agreement and its duties thereunder, upon advice of other experts selected by it. Anything to the contrary
notwithstanding, the Agent shall have no obligation whatsoever to any Secured Party to assure that the Collateral exists or is owned
by the Company or is cared for, protected or insured or that the liens granted pursuant to this Agreement have been properly or sufficiently
or lawfully created, perfected, or enforced or are entitled to any particular priority.

 

    	13

     

    

 

(f) Indemnification.
To the extent that the Agent is not reimbursed and indemnified by the Company, the Secured Parties will jointly and severally reimburse
and indemnify the Agent, in proportion to the outstanding amount of their respective principal amounts of the Notes at the time of determination,
from and against any and all claims, liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses
or disbursements of any kind or nature whatsoever which may be imposed on, incurred by or asserted against the Agent in performing its
duties hereunder or under this Agreement, the Notes and any other related agreement, or in any way relating to or arising out of this
Agreement, the Notes and any other related agreement except for those determined by a final judgment (not subject to further appeal)
of a court of competent jurisdiction to have resulted solely from the Agent’s own gross negligence or willful misconduct. Prior
to taking any action hereunder as the Agent, the Agent may require each Secured Party to deposit with it sufficient sums as it determines
in good faith is necessary to protect the Agent for costs and expenses associated with taking such action. The provisions of this Section
15(f) shall survive the termination of this Agreement and the resignation or removal of the Agent.

 

(g) Resignation
by the Agent.

 

		(i)	The
                                            Agent may resign from the performance of all its functions and duties under this Agreement
                                            and the other Transaction Documents at any time by giving 30 days’ prior written notice
                                            (pursuant to Section 13) to the Company and the Secured Parties. Such resignation
                                            shall take effect upon the appointment of a successor the Agent pursuant to clauses (ii)
                                            and (ii) below.

 

		(ii)	Upon
                                            any such notice of resignation, the Secured Parties, acting by a Majority in Interest, shall
                                            appoint a successor collateral agent hereunder.

 

		(iii)	If
                                            a successor collateral agent shall not have been so appointed within said 30-day period,
                                            the Agent shall then appoint a successor collateral agent who shall serve as collateral agent
                                            until such time, if any, as the Secured Parties appoint a successor collateral agent as provided
                                            above. If a successor collateral agent has not been appointed within such 30-day period,
                                            the Agent may petition any court of competent jurisdiction or may interplead the Company
                                            and the Secured Parties in a proceeding for the appointment of a successor collateral agent,
                                            and all fees, including, but not limited to, extraordinary fees associated with the filing
                                            of interpleader and expenses associated therewith, shall be payable by the Company on demand.

 

    	14

     

    

 

(h) Rights
with respect to Collateral. Each Secured Party agrees with all other Secured Parties and the Agent (i) that it shall not, and shall
not attempt to, exercise any rights with respect to its security interest in the Collateral, whether pursuant to any other agreement
or otherwise (other than pursuant to this Agreement), or take or institute any action against the Agent or any of the other Secured Parties
in respect of the Collateral or its rights hereunder (other than any such action arising from the breach of this Agreement) and (ii)
that such Secured Party has no other rights with respect to the Collateral other than as set forth in this Agreement, the Notes and any
other related agreements. Upon the acceptance of any appointment as collateral agent hereunder by a successor collateral agent, such
successor collateral agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring
collateral agent and the retiring collateral agent shall be discharged from its duties and obligations under this Agreement. After any
retiring collateral agent’s resignation or removal hereunder as collateral agent, the provisions of this Agreement shall inure
to its benefit as to any actions taken or omitted to be taken by it while it was collateral agent.

 

16. Miscellaneous.

 

(a) No
course of dealing between the Company and the Secured Parties, nor any failure to exercise, nor any delay in exercising, on the part
of the Secured Parties, any right, power or privilege hereunder or under the Notes shall operate as a waiver thereof; nor shall any single
or partial exercise of any right, power or privilege hereunder or thereunder preclude any other or further exercise thereof or the exercise
of any other right, power or privilege.

 

(b) All
of the rights and remedies of the Secured Parties with respect to the Collateral, whether established hereby or by the Notes or by any
other agreements, instruments or documents or by law shall be cumulative and may be exercised singly or concurrently.

 

(c) This
Agreement contains the entire understanding of the parties with respect to the subject matter hereof and supersede all prior agreements
and understandings, oral or written, with respect to such matters, which the parties acknowledge have been merged into this Agreement.
No provision of this Agreement may be waived, modified, supplemented or amended except in a written instrument signed, in the case of
an amendment, by the Company and the Agent, or, in the case of a waiver, by the party against whom enforcement of any such waived provision
is sought.

 

(d) If
any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void
or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and
effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially reasonable efforts
to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision,
covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining
terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or
unenforceable.

 

(e) No
waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver
in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any
delay or omission of any party to exercise any right hereunder in any manner impair the exercise of any such right.

 

    	15

     

    

 

(f) This
Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns. The Company may not
assign this Agreement or any rights or obligations hereunder without the prior written consent of the Agent (other than by merger). Any
Secured Party may assign any or all of its rights under this Agreement to any person to whom such Secured Party assigns or transfers
any Obligations, provided such transferee agrees in writing to be bound, with respect to the transferred Obligations, by the provisions
of this Agreement that apply to the Secured Parties.

 

(g) Each
party shall take such further action and execute and deliver such further documents as may be necessary or appropriate in order to carry
out the provisions and purposes of this Agreement.

 

(h) Except
to the extent mandatorily governed by the jurisdiction or situs where the Collateral is located, all questions concerning the construction,
validity, enforcement and interpretation of this Agreement shall be governed by and construed and enforced in accordance with the internal
laws of the State of California, without regard to the principles of conflicts of law thereof. Except to the extent mandatorily governed
by the jurisdiction or situs where the Collateral is located, the Company agrees that all proceedings concerning the interpretations,
enforcement and defense of the transactions contemplated by this Agreement and the Notes (whether brought against a party hereto or its
respective affiliates, directors, officers, shareholders, partners, members, employees or agents) shall be commenced exclusively in the
state and federal courts sitting in Los Angeles County, California. Except to the extent mandatorily governed by the jurisdiction or
situs where the Collateral is located, the Company hereby irrevocably submits to the exclusive jurisdiction of the state and federal
courts sitting in Los Angeles County, California for the adjudication of any dispute hereunder or in connection herewith or with any
transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any proceeding, any claim
that it is not personally subject to the jurisdiction of any such court, that such proceeding is improper. Each party hereto hereby irrevocably
waives personal service of process and consents to process being served in any such proceeding by mailing a copy thereof via registered
or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this
Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained
herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. Each party hereto hereby irrevocably
waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of
or relating to this Agreement or the transactions contemplated hereby.

 

(i) This
Agreement may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and, all of
which taken together shall constitute one and the same Agreement. In the event that any signature is delivered by facsimile transmission,
such signature shall create a valid binding obligation of the party executing (or on whose behalf such signature is executed) the same
with the same force and effect as if such facsimile signature were the original thereof.

 

    	16

     

    

 

(j) The
Company shall indemnify, reimburse and hold harmless the Agent and the Secured Parties and their respective partners, members, shareholders,
officers, directors, employees and agents (and any other persons with other titles that have similar functions) (each, an “Indemnitee”)
from and against any and all losses, claims, liabilities, damages, penalties, suits, costs and expenses, of any kind or nature, (including
fees relating to the cost of investigating and defending any of the foregoing) imposed on, incurred by or asserted against such Indemnitee
in any way related to or arising from or alleged to arise from this Agreement or the Collateral, except any such losses, claims, liabilities,
damages, penalties, suits, costs and expenses which result from the gross negligence or willful misconduct of the Indemnitee as determined
by a final, nonappealable decision of a court of competent jurisdiction.

 

(k) Nothing
in this Agreement shall be construed to subject the Agent or any Secured Parties to liability as an officer or director of the Company
or a partner in any of the Company’s direct or indirect subsidiaries that is a partnership or as a member in any of the Company
direct or indirect subsidiaries that is a limited liability company, nor shall the Agent or any Secured Party be deemed to have assumed
any obligations under any partnership agreement or limited liability company agreement, as applicable, of any the Company or any of its
direct or indirect subsidiaries or otherwise, unless and until any such Secured Party exercises its right to be substituted for the Company
as a partner or member, as applicable, pursuant hereto.

 

(l) To
the extent that the grant of the security interest in the Collateral and the enforcement of the terms hereof require the consent, approval
or action of any partner or member, as applicable, of the Company or any direct or indirect subsidiary of the Company or compliance with
any provisions of any of the Organizational Documents, the Company hereby grants such consent and approval and waive any such noncompliance
with the terms of said documents.

 

(m) The
Company and each Secured Party is subject to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October
26, 2001)) (the “Patriot Act”) and the Agent (for itself and not on behalf of any Secured Party), hereby notifies
all future Secured Parties, including subsequent assignees or transferees, that pursuant to the requirements of the Patriot Act, it is
required to obtain, verify and record information that identifies the Secured Party, which information includes the name and address
of the Secured Party and other information that will allow the Agent, to identify the Secured Party in accordance with the Patriot Act.
The Secured Parties shall provide such information and take such actions as are requested by the Agent in order to maintain compliance
with the Patriot Act.

 

(n) In
no event shall the Agent be responsible or liable for any failure or delay in the performance of its obligations hereunder directly or
indirectly caused by events beyond its control, including general labor disputes, acts of war or terrorism, civil or military disturbances,
nuclear or natural catastrophes or acts of God, and interruptions, losses or malfunctions of utilities, communications or computer (software
and hardware) services; provided, however, that lack of funds or other financial circumstances and labor disputes only
by the personnel of the affected party shall not constitute an event beyond its control hereunder and provided, further,
that the Agent, as the case may be, shall use reasonable efforts which are consistent with accepted practices in the banking industry
to resume performances as soon as practicable under the circumstances.

 

    	17

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Security Agreement to be duly executed effective as of the Effective Date.

 

	COMPANY:	SONDORS Inc. a Delaware corporation
	 	 	 
	 	By:
	
	 	 	Storm
    Sondors, President
	 	 	 
	 	Address:	23823
    Malibu Road, Suite 50 #129
	 	 	Malibu,
    CA 90265
	 	Email:	storm@sondors.com
	 	 	 
	AGENT:	Falcon Capital Partners Limited
	 	 	 
	 	By:
    	 
	 	 	Wil
    Rondini, President
	 	 	 
	 	Address:	Room
    501, the Lucky Building
	 	 	39
    Wellington Street
	 	 	Central,
    Hong Kong
	 	Email:	wil@falcon-capital.com

 

[SIGNATURE
PAGE OF SECURED PARTIES FOLLOWS]

 

    	18

     

    

 

SIGNATURE
PAGE OF SECURED PARTIES TO SONDORS INC.

SECURITY
AGREEMENT

 

Name
of Secured Party:__________________________________________________________________________

 

Signature
of Secured Party (or Authorized Signatory if an entity):__________________________________________

 

Name
of Authorized Signatory (if an entity):__________________________________________________________

 

Title
of Authorized Signatory (if an entity):___________________________________________________________

 

Address
of Secured Party:________________________________________________________________________

 

Email
Address of Secured Party:___________________________________________________________________

 

Facsimile
Number of Secured Party:_________________________________________________________________

 

Dated:
Effective as of the Effective Date.

 

    	19Exhibit
10.10

 

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

 

COMMON
STOCK PURCHASE WARRANT

 

SONDORS
iNC.

 

	Warrant
Shares: _____	Initial
Exercise Date: __________	 

 

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

 

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

 

 

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

2
NTD: The number of Warrant Shares shall be calculated by multiplying the principal amount of the Notes purchased by Holder pursuant
to the Purchase Agreement by 0.50 and dividing the resultant amount by the Exercise Price.

 

    	1

     

    

 

Section
2. Exercise.

 

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

 

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

 

 

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

 

    	2

     

    

 

(c) Mechanics
of Exercise.

 

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

 

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

 

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

 

    	3

     

    

 

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

 

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

 

    	4

     

    

 

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

 

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

 

Section
3. Certain Adjustments.

 

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

 

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

 

    	5

     

    

 

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

 

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

 

    	6

     

    

 

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

 

(f) Notice
to Holder.

 

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

 

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

 

    	7

     

    

 

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

 

Section
4. Transfer of Warrant.

 

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

 

    	8

     

    

 

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

 

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

 

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

 

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

 

Section
5. Miscellaneous.

 

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

 

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

 

    	9

     

    

 

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

 

(d) Authorized
Shares.

 

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

 

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

 

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

 

    	10

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

(Signature
Page Follows)

 

    	11

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized effective as of the Original
Issue Date of Holder’s Note.

 

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

 

    	12

     

    

 

NOTICE
OF EXERCISE

 

To:
SONDORS INC.

 

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

 

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

 

_______________________________

 

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

 

_______________________________

 

 

_______________________________

 

 

_______________________________

 

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

 

[SIGNATURE
OF HOLDER]

 

Name
of Investing Entity: ________________________________________________________________________

Signature
of Authorized Signatory of Investing Entity: _________________________________________________

Name
of Authorized Signatory: ___________________________________________________________________

Title
of Authorized Signatory: ____________________________________________________________________

Date:
________________________________________________________________________________________

 

    	 

     

    

 

ASSIGNMENT
FORM

 

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

 

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

 

	Name:	exercise
	 	(Please
    Print)
	 	 
	Address:	
	 	(Please
    Print)
	 	 
	Phone
    Number:	 
	Email
    Address:	 
	Dated: _______________
    __, ______ 	 
	Holder’s
    Signature:______________________	 
	Holder’s
    Address:_______________________

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