Document:

Exhibit
10.3

 

FORM
OF NON-COMPETITION AND NON-SOLICITATION AGREEMENT

 

THIS
NON-COMPETITION AND NON-SOLICITATION AGREEMENT (this “Agreement”) is being executed and delivered as
of January 28, 2021, by [_______________________] (the “Subject Party”) in favor of and for the benefit
of Andina Acquisition Corp. III, a Cayman Islands exempted company (together with its successors, including after the Conversion
(as defined below), the “Purchaser”), Stryve Foods, LLC, a Texas limited liability company (together
with its successors, the “Company”), and each of the Purchaser’s and/or the Company’s respective
present and future Affiliates (other than the Seller (as defined below) or the Subject Party), successors and direct and indirect
Subsidiaries (collectively with the Purchaser and the Company, the “Covered Parties”). Any capitalized
term used but not defined in this Agreement will have the meaning ascribed to such term in the Business Combination Agreement.

 

WHEREAS,
on or about the date hereof, the Purchaser, B. Luke Weil, in the capacity thereunder as the Purchaser Representative (including
any successor Purchaser Representative appointed in accordance therewith, the “Purchaser Representative”),
Andina Holdings LLC, a Delaware limited liability company and a wholly-owned subsidiary of the Purchaser (“Holdings”),
the Company, Stryve Foods Holdings, LLC, a Texas limited liability company (“Seller”), and R. Alex Hawkins,
in the capacity as the Seller Representative thereunder, entered into that certain Business Combination Agreement (as amended
from time to time in accordance with the terms thereof, the “Business Combination Agreement”), pursuant
to which, among other matters, (a) the Purchaser shall continue out of the Cayman Islands and into the State of Delaware as to
re-domicile as and become a Delaware corporation pursuant to the applicable provisions of the Cayman Companies Law and the DGCL
(such re-domiciliation, the “Conversion”) and (b) upon the consummation of the transactions contemplated
thereby (the “Closing”), (i) Seller will contribute to Holdings all of the issued and outstanding equity
interests of the Company in exchange for newly issued non-voting Class B membership interests of Holdings and voting (but non-economic)
Class V common stock of the Purchaser (subject to the withholding of the Escrow Securities), and (ii) the Purchaser will contribute
all of its cash and cash equivalents to Holdings, after payment of the Public Shareholders that elect to have their Purchaser
shares redeemed or converted in the Redemption and the Purchaser’s Expenses and other Liabilities due at the Closing, in
exchange for newly issued voting Class A membership interests of Holdings (such transactions, together with the Conversion and
the other transactions contemplated by the Business Combination Agreement, the “Transactions”), all
upon the terms and subject to the conditions set forth in the Business Combination Agreement;

 

WHEREAS,
the Company, directly and indirectly through its Subsidiaries, engages in the business of producing and distributing shelf stable
meat products and air-dried food products (collectively, the “Business”);

 

WHEREAS,
in connection with, and as a condition to the execution and delivery of the Business Combination Agreement and the consummation
of the Transactions, and to enable the Purchaser to secure more fully the benefits of the Transactions, including the protection
and maintenance of the goodwill and confidential information of the Company and its Subsidiaries, the Purchaser has required that
the Subject Party enter into this Agreement;

 

WHEREAS,
the Subject Party is entering into this Agreement in order to induce the Purchaser to enter into the Business Combination Agreement
and consummate the Transactions, pursuant to which the Subject Party will directly or indirectly receive a material benefit; and

 

WHEREAS,
the Subject Party, as a former and/or current direct or indirect equity holder, director, officer or employee of the Company or
its Affiliates, has contributed to the value of the Company and its Subsidiaries and has obtained extensive and valuable knowledge
and confidential information concerning the business of the Company and its Subsidiaries.

 

    	 	 	 

    	 

    

 

NOW,
THEREFORE, in order to induce the Purchaser to enter into the Business Combination Agreement and consummate the Transactions,
and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Subject Party
hereby agrees as follows:

 

1.
Restriction on Competition.

 

(a)
Restriction. The Subject Party hereby agrees that during the period from the Closing until the two (2) year anniversary
of the Closing Date (the “Restricted Period”) the Subject Party will not, and will cause its Affiliates
not to, without the prior written consent of the Purchaser (which may be withheld in its sole discretion), anywhere in the United
States or in any other markets in which the Covered Parties are engaged, or are actively contemplating to become engaged, in the
Business as of the Closing Date or during the Restricted Period (the “Territory”), directly or indirectly
engage in the Business (other than through a Covered Party) or own, manage, finance or control, or participate in the ownership,
management, financing or control of, or become engaged or serve as an officer, director, member, partner, employee, agent, consultant,
advisor or representative of, a business or entity (other than a Covered Party) that engages in the Business (a “Competitor”).
Notwithstanding the foregoing, the Subject Party and its Affiliates may own passive investments of no more than two percent (2%)
of any class of outstanding equity interests in a Competitor that is publicly traded, so long as the Subject Party and its Affiliates
and immediate family members are not involved in the management or control of such Competitor (“Permitted Ownership”).

 

(b)
Acknowledgment. The Subject Party acknowledges and agrees, based upon the advice of legal counsel and/or the Subject Party’s
own education, experience and training, that (i) the Subject Party possesses knowledge of confidential information of the Company
and its Subsidiaries and the Business, (ii) the Subject Party’s execution of this Agreement is a material inducement to
the Purchaser and the Company to consummate the Transactions and to realize the goodwill of the Company and its Subsidiaries,
for which the Subject Party and/or its Affiliates will receive a substantial direct or indirect financial benefit, and that the
Purchaser and the Company would not have entered into the Business Combination Agreement or consummated the Transactions but for
the Subject Party’s agreements set forth in this Agreement; (iii) it would impair the goodwill of the Company and its Subsidiaries
and reduce the value of the assets of the Company and its Subsidiaries and cause serious and irreparable injury if the Subject
Party were to use its ability and knowledge by engaging in the Business in competition with a Covered Party, and/or to otherwise
breach the obligations contained herein and that the Covered Parties would not have an adequate remedy at law because of the unique
nature of the Business, (iv) the Subject Party and its Affiliates have no intention of engaging in the Business (other than through
the Covered Parties) during the Restricted Period other than through Permitted Ownership, (v) the relevant public policy aspects
of restrictive covenants, covenants not to compete and non-solicitation provisions have been discussed, and every effort has been
made to limit the restrictions placed upon the Subject Party to those that are reasonable and necessary to protect the Covered
Parties’ legitimate interests, (vi) the Covered Parties conduct and intend to conduct the Business everywhere in the Territory
and compete with other businesses that are or could be located in any part of the Territory, (vii) the foregoing restrictions
on competition are fair and reasonable in type of prohibited activity, geographic area covered, scope and duration, (viii) the
consideration provided to the Subject Party under this Agreement and the Business Combination Agreement is not illusory, and (ix)
such provisions do not impose a greater restraint than is necessary to protect the goodwill or other business interests of the
Covered Parties.

 

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2.
No Solicitation; No Disparagement.

 

(a)
No Solicitation of Employees and Consultants. The Subject Party agrees that, during the Restricted Period, the Subject
Party and its Affiliates will not, without the prior written consent of the Purchaser (which may be withheld in its sole discretion),
either on its own behalf or on behalf of any other Person (other than, if applicable, a Covered Party in the performance of the
Subject Party’s duties on behalf of the Covered Parties), directly or indirectly: (i) hire or engage as an employee, independent
contractor, consultant or otherwise any Covered Personnel (as defined below); (ii) solicit, induce, encourage or otherwise knowingly
cause (or attempt to do any of the foregoing) any Covered Personnel to leave the service (whether as an employee, consultant or
independent contractor) of any Covered Party; or (iii) in any way interfere with or attempt to interfere with the relationship
between any Covered Personnel and any Covered Party; provided, however, the Subject Party and its Affiliates will
not be deemed to have violated this Section 2(a) if any Covered Personnel voluntarily and independently solicits an offer
of employment from the Subject Party or its Affiliate (or other Person whom any of them is acting on behalf of) by responding
to a general advertisement or solicitation program conducted by or on behalf of the Subject Party or its Affiliate (or such other
Person whom any of them is acting on behalf of) that is not targeted at such Covered Personnel or Covered Personnel generally,
so long as such Covered Personnel is not hired. For purposes of this Agreement, “Covered Personnel”
shall mean any Person who is or was an employee, consultant or independent contractor of the Covered Parties, as of such date
of the relevant act prohibited by this Section 2(a) or during the one (1) year period preceding such date.

 

(b)
Non-Solicitation of Customers and Suppliers. The Subject Party agrees that, during the Restricted Period, the Subject Party
and its Affiliates will not, without the prior written consent of the Purchaser (which may be withheld in its sole discretion),
individually or on behalf of any other Person (other than, if applicable, a Covered Party in the performance of the Subject Party’s
duties on behalf of the Covered Parties), directly or indirectly: (i) solicit, induce, encourage or otherwise knowingly cause
(or attempt to do any of the foregoing) any Covered Customer (as defined below) to (A) cease being, or not become, a client or
customer of any Covered Party with respect to the Business or (B) reduce the amount of business of such Covered Customer with
any Covered Party, or otherwise alter such business relationship in a manner adverse to any Covered Party, in either case, with
respect to or relating to the Business; (ii) interfere with or disrupt (or attempt to interfere with or disrupt) the contractual
relationship between any Covered Party and any Covered Customer; (iii) divert any business with any Covered Customer relating
to the Business from a Covered Party; (iv) solicit for business, provide services to, engage in or do business with, any Covered
Customer for products or services that are part of the Business (for the avoidance of doubt, the foregoing will not prevent the
Subject Party or its Affiliates from soliciting a Covered Customer for products or services that are not part of the Business);
or (v) interfere with or disrupt (or attempt to interfere with or disrupt), any Person that was a vendor, supplier, distributor,
agent or other service provider of a Covered Party at the time of such interference or disruption, for a purpose competitive with
a Covered Party as it relates to the Business. For purposes of this Agreement, a “Covered Customer”
shall mean any Person who is or was an actual customer or client (or prospective customer or client with whom a Covered Party
actively marketed or made or taken specific action to make a proposal) of a Covered Party, as of such date of the relevant act
prohibited by this Section 2(b) or during the one (1) year period preceding such date.

 

(c)
Non-Disparagement. The Subject Party agrees that from and after the Closing until the two (2) year anniversary of the end
of the Restricted Period, the Subject Party and its Affiliates will not, directly or indirectly engage in any conduct that involves
the making or publishing (including through electronic mail distribution or online social media) of any written or oral statements
or remarks (including the repetition or distribution of derogatory rumors, allegations, negative reports or comments) that are
disparaging, deleterious or damaging to the integrity, reputation or good will of one or more Covered Parties or their respective
management, officers, employees, independent contractors or consultants. Notwithstanding the foregoing, subject to Section
3 below, the provisions of this Section 2(c) shall not restrict the Subject Party or its Affiliates from providing
truthful testimony or information in response to a subpoena or investigation by a Governmental Authority or in connection with
any legal action by the Subject Party or its Affiliate against any Covered Party under this Agreement, the Business Combination
Agreement or any other Ancillary Document that is asserted by the Subject Party or its Affiliate in good faith.

 

    	 	3	 

    	 

    

 

3.
Confidentiality. From and after the Closing Date, the Subject Party will, and will cause its Representatives to, keep confidential
and not (except, if applicable, in the performance of the Subject Party’s duties on behalf of the Covered Parties) directly
or indirectly use, disclose, reveal, publish, transfer or provide access to, any and all Covered Party Information without the
prior written consent of the Purchaser (which may be withheld in its sole discretion). As used in this Agreement, “Covered
Party Information” means all material and information relating to the business, affairs and assets of any Covered
Party, including material and information that concerns or relates to such Covered Party’s bidding and proposal, technical
information, computer hardware or software, administrative, management, operational, data processing, financial, marketing, customers,
sales, human resources, employees, vendors, business development, planning and/or other business activities, regardless of whether
such material and information is maintained in physical, electronic, or other form, that is: (A) gathered, compiled, generated,
produced or maintained by such Covered Party through its Representatives, or provided to such Covered Party by its suppliers,
service providers or customers; and (B) intended and maintained by such Covered Party or its Representatives, suppliers, service
providers or customers to be kept in confidence. Covered Party Information also includes information disclosed to any Covered
Party by a third party to the extent that a Covered Party has an obligation of confidentiality in connection therewith. The obligations
set forth in this Section 3 will not apply to any Covered Party Information where the Subject Party can prove that such
material or information: (i) is known or available through other lawful sources not bound by a confidentiality agreement or other
confidentiality obligation with respect to such material or information; (ii) is or becomes publicly known through no violation
of this Agreement or other non-disclosure obligation of the Subject Party or any of its Representatives; (iii) is already in the
possession of the Subject Party at the time of disclosure through lawful sources not bound by a confidentiality agreement or other
confidentiality obligation as evidenced by the Subject Party’s documents and records; or (iv) is required to be disclosed
pursuant to an order of any administrative body or court of competent jurisdiction (provided that (A) the applicable Covered Party
is given reasonable prior written notice, (B) the Subject Party cooperates (and causes its Representatives to cooperate) with
any reasonable request of any Covered Party to seek to prevent or narrow such disclosure and (C) if after compliance with clauses
(A) and (B) such disclosure is still required, the Subject Party and its Representatives only disclose such portion of the Covered
Party Information that is expressly required by such order, as it may be subsequently narrowed).

 

4.
Representations and Warranties. The Subject Party hereby represents and warrants, to and for the benefit of the Covered Parties
as of the date of this Agreement and as of the Closing Date, that: (a) the Subject Party has full power and capacity to execute
and deliver, and to perform all of the Subject Party’s obligations under, this Agreement; and (b) neither the execution
and delivery of this Agreement nor the performance of the Subject Party’s obligations hereunder will result directly or
indirectly in a violation or breach of any agreement or obligation by which the Subject Party is a party or otherwise bound. By
entering into this Agreement, the Subject Party certifies and acknowledges that the Subject Party has carefully read all of the
provisions of this Agreement, and that the Subject Party voluntarily and knowingly enters into this Agreement.

 

5.
Remedies. The covenants and undertakings of the Subject Party contained in this Agreement relate to matters which are of a
special, unique and extraordinary character and a violation of any of the terms of this Agreement may cause irreparable injury
to the Covered Parties, the amount of which may be impossible to estimate or determine and which cannot be adequately compensated.
The Subject Party agrees that, in the event of any breach or threatened breach by the Subject Party of any covenant or obligation
contained in this Agreement, each applicable Covered Party will be entitled to obtain the following remedies (in addition to,
and not in lieu of, any other remedy at law or in equity or pursuant to the Business Combination Agreement or the other Ancillary
Documents that may be available to the Covered Parties, including monetary damages), and a court of competent jurisdiction may
award: (i) an injunction, restraining order or other equitable relief restraining or preventing such breach or threatened breach,
without the necessity of proving actual damages or that monetary damages would be insufficient or posting bond or security, which
the Subject Party expressly waives; and (ii) recovery of the Covered Party’s attorneys’ fees and costs incurred in
enforcing the Covered Party’s rights under this Agreement. The Subject Party hereby consents to the award of any of the
above remedies to the applicable Covered Party in connection with any such breach or threatened breach. The Subject Party hereby
acknowledges and agrees that in the event of any breach of this Agreement, any value attributed or allocated to this Agreement
(or any other non-competition agreement with the Subject Party) under or in connection with the Business Combination Agreement
shall not be considered a measure of, or a limit on, the damages of the Covered Parties.

 

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6.
Survival of Obligations. The expiration of the Restricted Period will not relieve the Subject Party of any obligation or liability
arising from any breach by the Subject Party of this Agreement during the Restricted Period. The Subject Party further agrees
that the time period during which the covenants contained in Section 1 and Section 2 of this Agreement will be effective
will be computed by excluding from such computation any time during which the Subject Party is in violation of any provision of
such Sections.

 

7.
Miscellaneous.

 

(a)
Notices. All notices, consents, waivers and other communications hereunder shall be in writing and shall be deemed to have
been duly given when delivered (i) in person, (ii) by facsimile or other electronic means, with affirmative confirmation of receipt,
(iii) one Business Day after being sent, if sent by reputable, nationally recognized overnight courier service or (iv) three (3)
Business Days after being mailed, if sent by registered or certified mail, pre-paid and return receipt requested, in each case
to the applicable party at the following addresses (or at such other address for a party as shall be specified by like notice):

 

	If
    to the Purchaser Representative, the Purchaser or the Company (or any other Covered Party), to:	with
    a copy (that will not constitute notice) to:
	 	 
	B.
    Luke Weil	Ellenoff
    Grossman & Schole LLP
	250
    West 57th Street, Suite 415	1345
    Avenue of the Americas, 11th Floor
	New
    York, NY 10107	New
    York, New York 10105
	Telephone
    No.: (917) 270-2106 	Attn:
    Matthew A. Gray, Esq.
	Email:
    luke@andacq.com 	   Tamar
    Donikyan, Esq.
	 	Facsimile
    No.: (212) 370-7889
	and	Telephone
    No.: (212) 370-1300
	 	Email:
    mgray@egsllp.com
	Stryve
    Foods, Inc.	   
    tdonikyan@egsllp.com
	5801
    Tennyson Parkway, Suite 275	 
	Plano,
    X 75024	and
	Attn:
    Mr. Joe Oblas	 
	Telephone
    No.: (972) 987-5130 	Foley
    & Lardner LLP
	Email:
    joe@stryve.com	2021
    McKinney Ave, Suite 1600
	 	Dallas,
    TX 75201
	 	Attn:
    Chris Converse, Esq.
	 	 Christopher
    J. Babcock
	 	Telephone
    No.: (214) 999-4903
	 	  (214)
    999-4370 
	 	Email:
    cconverse@foley.com
	 	   
    cbabcock@foley.com
	 	 
	If
    to the Subject Party, to:	 
	the
    address below the Subject Party’s name on the signature page to this Agreement.

 

    	 	5	 

    	 

    

 

(b)
Integration and Non-Exclusivity. This Agreement, the Business Combination Agreement and the other Ancillary Documents contain
the entire agreement between the Subject Party and the Covered Parties concerning the subject matter hereof. Notwithstanding the
foregoing, the rights and remedies of the Covered Parties under this Agreement are not exclusive of or limited by any other rights
or remedies which they may have, whether at law, in equity, by contract or otherwise, all of which will be cumulative (and not
alternative). Without limiting the generality of the foregoing, the rights and remedies of the Covered Parties, and the obligations
and liabilities of the Subject Party and its Affiliates, under this Agreement, are in addition to their respective rights, remedies,
obligations and liabilities (i) under the laws of unfair competition, misappropriation of trade secrets, or other requirements
of statutory or common law, or any applicable rules and regulations and (ii) otherwise conferred by contract, including the Business
Combination Agreement and any other written agreement between the Subject Party or its Affiliate and any of the Covered Parties.
Nothing in the Business Combination Agreement will limit any of the obligations, liabilities, rights or remedies of the Subject
Party or the Covered Parties under this Agreement, nor will any breach of the Business Combination Agreement or any other agreement
between the Subject Party or its Affiliate and any of the Covered Parties limit or otherwise affect any right or remedy of the
Covered Parties under this Agreement. If any term or condition of any other agreement between the Subject Party or its Affiliate
and any of the Covered Parties conflicts or is inconsistent with the terms and conditions of this Agreement, the more restrictive
terms will control as to the Subject Party or its Affiliate, as applicable.

 

(c)
Severability; Reformation. Each provision of this Agreement is separable from every other provision of this Agreement.
If any provision of this Agreement is found or held to be invalid, illegal or unenforceable, in whole or in part, by a court of
competent jurisdiction, then (i) such provision will be deemed amended to conform to applicable laws so as to be valid, legal
and enforceable to the fullest possible extent, (ii) the invalidity, illegality or unenforceability of such provision will not
affect the validity, legality or enforceability of such provision under any other circumstances or in any other jurisdiction,
and (iii) the invalidity, illegality or unenforceability of such provision will not affect the validity, legality or enforceability
of the remainder of such provision or the validity, legality or enforceability of any other provision of this Agreement. The Subject
Party and the Covered Parties will substitute for any invalid, illegal or unenforceable provision a suitable and equitable provision
that carries out, so far as may be valid, legal and enforceable, the intent and purpose of such invalid, illegal or unenforceable
provision. Without limiting the foregoing, if any court of competent jurisdiction determines that any part hereof is unenforceable
because of the duration, geographic area covered, scope of such provision, or otherwise, such court will have the power to reduce
the duration, geographic area covered or scope of such provision, as the case may be, and, in its reduced form, such provision
will then be enforceable. The Subject Party will, at a Covered Party’s request, join such Covered Party in requesting that
such court take such action.

 

(d)
Amendment; Waiver. This Agreement may not be amended or modified in any respect, except by a written agreement executed
by the Subject Party, the Purchaser and the Purchaser Representative (or their respective permitted successors or assigns). No
waiver will be effective unless it is expressly set forth in a written instrument executed by the waiving party (and if such waiving
party is a Covered Party, the Purchaser Representative) and any such waiver will have no effect except in the specific instance
in which it is given. Any delay or omission by a party in exercising its rights under this Agreement, or failure to insist upon
strict compliance with any term, covenant, or condition of this Agreement will not be deemed a waiver of such term, covenant,
condition or right, nor will any waiver or relinquishment of any right or power under this Agreement at any time or times be deemed
a waiver or relinquishment of such right or power at any other time or times.

 

    	 	6	 

    	 

    

 

(e)
Dispute Resolution. Any dispute, difference, controversy or claim arising in connection with or related or incidental to,
or question occurring under, this Agreement or the subject matter hereof (other than applications for a temporary restraining
order, preliminary injunction, permanent injunction or other equitable relief or application for enforcement of a resolution under
this Section 7(e)) (a “Dispute”) shall be governed by this Section 7(e). A party must,
in the first instance, provide written notice of any Disputes to the other parties subject to such Dispute, which notice must
provide a reasonably detailed description of the matters subject to the Dispute. Any Dispute that is not resolved may at any time
after the delivery of such notice immediately be referred to and finally resolved by arbitration pursuant to the then-existing
Expedited Procedures of the Commercial Arbitration Rules (the “AAA Procedures”) of the American Arbitration
Association (the “AAA”). Any party involved in such Dispute may submit the Dispute to the AAA to commence
the proceedings after the Resolution Period. To the extent that the AAA Procedures and this Agreement are in conflict, the terms
of this Agreement shall control. The arbitration shall be conducted by one arbitrator nominated by the AAA promptly (but in any
event within five (5) Business Days) after the submission of the Dispute to the AAA and reasonably acceptable to each party subject
to the Dispute, which arbitrator shall be a commercial lawyer with substantial experience arbitrating disputes under acquisition
agreements. The arbitrator shall accept his or her appointment and begin the arbitration process promptly (but in any event within
five (5) Business Days) after his or her nomination and acceptance by the parties subject to the Dispute. The proceedings shall
be streamlined and efficient. The arbitrator shall decide the Dispute in accordance with the substantive law of the State of Delaware.
Time is of the essence. Each party shall submit a proposal for resolution of the Dispute to the arbitrator within twenty (20)
days after confirmation of the appointment of the arbitrator. The arbitrator shall have the power to order any party to do, or
to refrain from doing, anything consistent with this Agreement, the Ancillary Documents and applicable Law, including to perform
its contractual obligation(s); provided, that the arbitrator shall be limited to ordering pursuant to the foregoing power
(and, for the avoidance of doubt, shall order) the relevant party (or parties, as applicable) to comply with only one or the other
of the proposals. The arbitrator’s award shall be in writing and shall include a reasonable explanation of the arbitrator’s
reason(s) for selecting one or the other proposal. The seat of arbitration shall be in the State of Delaware. The language of
the arbitration shall be English.

 

(f)
Governing Law; Jurisdiction. This Agreement shall be governed by, construed and enforced in accordance with the Laws of
the State of Delaware without regard to the conflict of laws principles thereof. Subject to Section 7(e), all Actions arising
out of or relating to this Agreement shall be heard and determined exclusively in any state or federal court located in the State
of Delaware (or in any appellate courts thereof) (the “Specified Courts”). Subject to Section 7(e),
each party hereto hereby (a) submits to the exclusive jurisdiction of any Specified Court for the purpose of any Action arising
out of or relating to this Agreement brought by any party hereto, (b) irrevocably waives, and agrees not to assert by way of motion,
defense or otherwise, in any such Action, any claim that it is not subject personally to the jurisdiction of the above-named courts,
that its property is exempt or immune from attachment or execution, that the Action is brought in an inconvenient forum, that
the venue of the Action is improper, or that this Agreement or the transactions contemplated hereby may not be enforced in or
by any Specified Court and (c) waives any bond, surety or other security that might be required of any other party with respect
thereto. Each party agrees that a final judgment in any Action shall be conclusive and may be enforced in other jurisdictions
by suit on the judgment or in any other manner provided by Law or in equity. Each party irrevocably consents to the service of
the summons and complaint and any other process in any other action or proceeding relating to the transactions contemplated by
this Agreement, on behalf of itself, or its property, by personal delivery of copies of such process to such party at the applicable
address set forth in Section 7(a). Nothing in this Section 7(f) shall affect the right of any party to serve legal
process in any other manner permitted by Law.

 

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(g)
WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT
IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS
AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HAS
REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SEEK TO ENFORCE THAT FOREGOING
WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 7(g). ANY PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR
A COPY OF THIS SECTION 7(g) WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS RIGHT
TO TRIAL BY JURY.

 

(h)
Successors and Assigns; Third Party Beneficiaries. This Agreement will be binding upon the Subject Party and the Subject
Party’s estate, successors and assigns, and will inure to the benefit of the Covered Parties, and their respective successors
and assigns. Each Covered Party may freely assign any or all of its rights under this Agreement, at any time, in whole or in part,
to any Person which acquires, in one or more transactions, at least a majority of the equity securities (whether by equity sale,
merger or otherwise) of such Covered Party or all or substantially all of the assets of such Covered Party and its Subsidiaries,
taken as a whole, without obtaining the consent or approval of the Subject Party. The Subject Party agrees that the obligations
of the Subject Party under this Agreement are personal and will not be assigned by the Subject Party. Each of the Covered Parties
are express third party beneficiaries of this Agreement and will be considered parties under and for purposes of this Agreement.

 

(i)
Purchaser Representative Authorized to Act on Behalf of Covered Parties. The parties acknowledge and agree that the Purchaser
Representative is authorized and shall have the sole right to act on behalf of Purchaser and the other Covered Parties under this
Agreement, including the right to enforce the Purchaser’s rights and remedies under this Agreement. Without limiting the
foregoing, in the event that the Subject Party serves as a director, officer, employee or other authorized agent of a Covered
Party, the Subject Party shall have no authority, express or implied, to act or make any determination on behalf of a Covered
Party in connection with this Agreement or any dispute or Action with respect hereto.

 

(j)
Construction. The Subject Party acknowledges that the Subject Party has been represented, or had the opportunity to be
represented by, counsel of the Subject Party’s choice. Any rule of construction to the effect that ambiguities are to be
resolved against the drafting party will not be applied in the construction or interpretation of this Agreement. Neither the drafting
history nor the negotiating history of this Agreement will be used or referred to in connection with the construction or interpretation
of this Agreement. The headings and subheadings contained in this Agreement are for reference purposes only and shall not affect
in any way the meaning or interpretation of this Agreement. In this Agreement: (i) the words “include,” “includes”
and “including” when used herein shall be deemed in each case to be followed by the words “without limitation”;
(ii) the definitions contained herein are applicable to the singular as well as the plural forms of such terms; (iii) whenever
required by the context, any pronoun shall include the corresponding masculine, feminine or neuter forms, and the singular form
of nouns, pronouns and verbs shall include the plural and vice versa; (iv) the words “herein,” “hereto,”
and “hereby” and other words of similar import shall be deemed in each case to refer to this Agreement as a whole
and not to any particular Section or other subdivision of this Agreement; (v) the word “if” and other words of similar
import when used herein shall be deemed in each case to be followed by the phrase “and only if”; (vi) the term “or”
means “and/or”; and (vii) any agreement or instrument defined or referred to herein or in any agreement or instrument
that is referred to herein means such agreement or instrument as from time to time amended, modified or supplemented, including
by waiver or consent and references to all attachments thereto and instruments incorporated therein.

 

    	 	8	 

    	 

    

 

(k)
Counterparts. This Agreement may be executed in one or more counterparts, and by the different parties hereto in separate
counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one
and the same agreement. A photocopy, faxed, scanned and/or emailed copy of this Agreement or any signature page to this Agreement,
shall have the same validity and enforceability as an originally signed copy.

 

(l)
Effectiveness. This Agreement shall be binding upon the Subject Party upon the Subject Party’s execution and delivery
of this Agreement, but this Agreement shall only become effective upon the consummation of the Transactions. In the event that
the Business Combination Agreement is validly terminated in accordance with its terms prior to the consummation of the Transactions,
this Agreement shall automatically terminate and become null and void, and the parties shall have no obligations hereunder.

 

[Remainder
of Page Intentionally Left Blank; Signature Page Follows]

 

    	 	9	 

    	 

    

 

IN
WITNESS WHEREOF, the undersigned has duly executed and delivered this Non-Competition and Non-Solicitation Agreement as of the
date first written above.

 

	 	Subject
    Party:
	 	 
	 	[____________________________]

	 	 	 
	 	By:	                                                                        
	 	Name:	 
	 	Title:	 

 

	 	Address
    for Notice:
	 	 
	 	Address:________________________________________
	 	_______________________________________________
	 	_______________________________________________
	 	Facsimile
    No.:____________________________________
	 	Telephone
    No.:___________________________________
	 	Email:__________________________________________

 

{Signature
Page to Non-Competition Agreement}

 

    	 	 	 

    	 

    

 

Acknowledged
and accepted as of the date first written above:

 

	The
    Purchaser: 	 
	 	 	 
	ANDINA
    ACQUSITION CORP. III	 
	 	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 
	 	 	 
	The
    Company:	 
	 	 	 
	STRYVE
    FOODS, LLC	 
	 	 	 
	By:	             	 
	Name:	 	 
	Title:	 	 

 

{Signature
Page to Non-Competition Agreement}Exhibit 10.4

 

Execution Copy

 

Andina
Acquisition Corp. III

250 West 57th Street, Suite 415

New York, NY 10107

 

January
28, 2021

 

	Insider:
    

    [Insider name]	Stryve
    Foods Holdings LLC

    5801 Tennyson Parkway, Suite 275

    Plano, X 75024

    Attn: Mr. Joe Oblas

 

	 	Re:	Insider
    Forfeiture Agreement

 

Ladies
and Gentlemen:

 

Reference
is hereby made to that certain Business Combination Agreement, dated on or about the date hereof (as amended, the “Business
Combination Agreement”), by and among Andina Acquisition Corp. III, a Cayman Islands exempted company (together
with its successors, the “Purchaser”), Andina Holdings LLC, a Delaware limited liability company and
a wholly-owned subsidiary of the Purchaser, B. Luke Weil, in the capacity as the Purchaser Representative thereunder, Stryve Foods
Holdings LLC, a Texas limited liability company (the “Seller”), Stryve Foods LLC, a Texas limited liability
company and a wholly-owned subsidiary of the Seller, and R. Alex Hawkins, in the capacity as the Seller Representative thereunder.
Any capitalized terms used but not defined in this letter agreement (this “Agreement”) will have the
meanings ascribed thereto in the Business Combination Agreement.

 

In
connection with the Business Combination Agreement, the undersigned (the “Insider”), has agreed to enter
into this Agreement with the Purchaser and the Seller relating to the Insider’s portion of (i) the 2,700,000 Purchaser Ordinary
Shares which were originally issued to B. Luke Weil as “insider shares” (as described in the IPO Prospectus) prior
to the Purchaser’s initial public offering (together with any shares of Purchaser Common Stock issued in exchange for such
shares in the Conversion, the “Insider Shares”), and which were subsequently transferred to the Insider
and Other Insiders (as defined below), (ii) the 395,000 Purchaser Private Rights that are a component part of the Purchaser Private
Units (as modified in connection with the Conversion in accordance with the Business Combination Agreement, the “Private
Rights”) and (iii) the 395,000 Purchaser Private Warrants that are a component part of the Purchaser Private Units
(as modified in connection with the Conversion in accordance with the Business Combination Agreement, the “Private
Warrants”). The other holders of Inside Shares, Private Rights and Private Warrants (the “Other Insiders”)
are also entering into agreements on or about the date hereof that are substantially identical to this Agreement.

 

For
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Insider, the Purchaser and
the Seller hereby agree as follows:

 

	1.	The
    Insider hereby represents and warrants to the Purchaser and the Seller that as of the date of this Agreement, the Insider
    owns the Insider Shares, Private Rights and Private Warrants set forth next to the Insider’s name on Exhibit A
    hereto.
	 	 
	2.	The
    Insider hereby agrees that, conditioned upon and subject to the Closing, the Insider will forfeit and cancel at the Closing
    a number of Insider Shares equal to (i) fifty percent (50%) of the Insider Shares held by the Insider as of the date hereof,
    minus (ii) the number of Insider Shares, if any, approved by the Seller in writing for transfer (such approval not to be unreasonably
    withheld, delayed or conditioned), and actually transferred, by the Insider to other Persons in support of the Transactions.
    In the event that the Insider would be required by this Section 2 to forfeit a fractional Insider Share, the number
    of Insider Shares to be forfeited shall be rounded down to the nearest whole share.

 

    	 

     

    

 

	3.	The
    Insider hereby agrees that, conditioned upon and subject to the Closing, the Insider will forfeit and cancel at the Closing
    a number of Private Rights equal to (i) fifty percent (50%) of the Private Rights held by the Insider as of the date hereof,
    minus (ii) the number of Private Rights, if any, approved by the Seller in writing for transfer (such approval not to be unreasonably
    withheld, delayed or conditioned), and actually transferred, by the Insider to other Persons in support of the Transactions.
    In the event that the Insider would be required by this Section 2 to forfeit a fractional Private Right, the number
    of Private Rights to be forfeited shall be rounded down to the nearest whole right.
	 	 
	4.	The
    Insider hereby agrees that, conditioned upon and subject to the Closing, the Insider will forfeit and cancel at the Closing
    a number of Private Warrants equal to (i) fifty percent (50%) of the Private Warrants held by the Insider as of the date hereof,
    minus (ii) the number of Private Warrants, if any, approved by the Seller in writing for transfer (such approval not to be
    unreasonably withheld, delayed or conditioned), and actually transferred, by the Insider to other Persons in support of the
    Transactions. In the event that the Insider would be required by this Section 2 to forfeit a fractional Private Warrant,
    the number of Private Warrants to be forfeited shall be rounded down to the nearest whole warrant.
	 	 
	5.	At
    or prior to the Closing, with the prior written approval of the Seller (not to be unreasonably withheld, delayed or conditioned),
    the Insider may transfer any Insider Shares, Private Rights and/or Private Warrants to other Persons in support of the Transactions,
    and such transfers shall reduce the number of Insider Shares, Private Rights and/or Private Warrants, as applicable, to be
    forfeited under this Agreement on a one-for-one basis. Any such transferred Insider Shares, Private Rights and/or Private
    Warrants shall not be subject to the terms and conditions of this Agreement; provided, that for the avoidance of doubt, any
    transferred Insider Shares shall continue to be subject to the terms and conditions of the Insider Letter Agreement, dated
    as of January 28, 2019, by and among the Purchaser, the Insider and the Other Insiders that was entered into in connection
    with the IPO (as it may be amended, the “Insider Letter”) and the Share Escrow Agreement, dated
    as of January 28, 2019, by and among the Purchaser, the Insider, the Other Insiders and Continental Stock Transfer & Trust
    Company, as escrow agent thereunder (“Escrow Agent”) (as amended by the Share Escrow Amendment in
    accordance with Section 6 below, and as it may further be amended, the “Share Escrow Agreement”),
    and any transferred Private Rights and the Private Warrants shall continue to be subject to the applicable subscription agreement
    for the Purchaser Private Units (the “Subscription Agreement”). For the avoidance of doubt, the
    Insider may, without being required to obtain the consent of the Seller, transfer in one or more transactions up to fifty
    percent (50%) of the aggregate Insider Shares, Private Rights and/or Private Warrants held by the Insider as of the date hereof
    in accordance with the terms and conditions of, as applicable, the Insider Letter, the Escrow Agreement and the Subscription
    Agreements, but if such transfers are made without the consent of the Seller (not to be unreasonably withheld, delayed or
    conditioned), such transfers will not reduce the number of Insider Shares, Private Rights and/or Private Warrants to be forfeited
    by the Insider hereunder.
	 	 
	6.	Simultaneously
    with the execution and delivery of this Agreement, the Insider will enter into an Amendment to Share Escrow Agreement with
    the Other Insiders and the Escrow Agreement in substantially the form attached as Exhibit B hereto (the “Share
    Escrow Amendment”).
	 	 
	7.	This
    Agreement (including the Business Combination Agreement, to the extent incorporated herein) constitutes the entire agreement
    and understanding of the parties hereto in respect of the subject matter hereof and supersedes all prior understandings, agreements,
    or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter
    hereof. This Agreement may not be changed, amended, modified or waived as to any particular provision, except by a written
    instrument executed by all parties hereto. No failure or delay by a party in exercising any right hereunder shall operate
    as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise of any other right
    hereunder.

 

    	2

     

    

 

	8.	Subject
    to Section 4 above, no party hereto may assign either this Agreement or any of its rights or obligations hereunder
    without the prior written consent of the other parties. Any purported assignment in violation of this Section 8 shall
    be null and void ab initio and of no force or effect. This Agreement shall be binding on the undersigned parties and their
    respective successors and permitted assigns.
	 	 
	9.	Any
    notice, consent or request to be given in connection with any of the terms or provisions of this Agreement shall be in writing
    and shall be sent in the same manner as provided in Section 10.2 of the Business Combination Agreement. Notices to the Insider
    shall be sent to the address of the Insider as set forth below its name on the signature page hereto (or such other address
    as shall be specified in a notice given in accordance with this Section 9 and Section 10.2 of the Business Combination
    Agreement), with a copy to the Purchaser Representative (and Persons entitled to receive copies of notices to the Purchaser
    Representative) at the address set forth in the Business Combination Agreement.
	 	 
	10.	This
    Agreement shall be construed, interpreted and enforced in a manner consistent with the provisions of the Business Combination
    Agreement. The provisions set forth in Sections 10..4 through 10.10, 10.12, 10.13 and 10.16(a) of the Business Combination
    Agreement, as in effect as of the date hereof, are hereby incorporated by reference into, and shall be deemed to apply to,
    this Agreement as if all references to the “Agreement” in such sections were instead references to this Agreement,
    and the references therein to the “Parties” were instead to the parties to this Agreement.
	 	 
	11.	This
    Agreement shall terminate at such time, if any, as the Business Combination Agreement is terminated in accordance with its
    terms prior to the Closing, and upon such termination this Agreement shall be null and void and of no effect whatsoever, and
    the parties hereto shall have no obligations under this Agreement.

 

{Remainder
of Page Left Blank; Signature Page Follows}

 

    	3

     

    

 

Please
indicate your agreement to the foregoing by signing in the space provided below.

 

	 	Andina Acquisition Corp. III
	 	 	 
	 	By:	             
	 	Name:	 
	 	Title:	 

 

Accepted
and agreed, effective as of the date first set forth above:

 

The
Seller:

 

	Stryve Foods Holdings LLC	 
	 	 	 
	By:	       	 
	Name:	 	 
	Title:	 	 

 

	The Insider:	 
	 	 	 
	Name
    of Insider:	 	 

 

	By:	                   	 
	Name
    of Signatory: 	 
	Title
    of Signatory:	 

 

Address
for Notice:

 

	Address:	 	 
	 	 
	 	 

	Facsimile
    No.:	 	 
	Telephone
    No.:	 	 
	Email:	 	 

 

{Signature Page to Insider Forfeiture Agreement}

 

    	 	 	 

     

    

 

Exhibit
A

Insider Ownership

 

	Insider	 	Insider

                                                                                Shares
	 	Private

                                                                                Rights
	 	Private Warrants
	[Insider Name]	 	 	 	 	 	 	 	 	 	 	 	 
	TOTAL FOR ALL INSIDERS	 	 	2,700,000	 	 	 	395,000	 	 	 	395,000

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