Document:

Document

Exhibit 10.28

CONSULTING SERVICES AGREEMENT
This CONSULTING SERVICES AGREEMENT (this “Agreement”) is entered into as of November 10, 2022 (the “Effective Date”), by and between Grove Collaborative Holdings, Inc., a Delaware corporation (the “Company”), and HCI Grove Management LLC (the “Consultant”).

Preliminary Statement
WHEREAS, the Company and HCI Grove LLC, an affiliate of Consultant are parties to that certain Subscription Agreement of even date herewith (the “Subscription Agreement”);
WHEREAS, Consultant is an affiliate of HumanCo LLC and its subsidiaries (collectively, the “HumanCo Group”);
WHEREAS, in partial consideration of the consulting services to be provided by Consultant as more fully set forth herein (the “Services”), the Company is granting Consultant the Warrant (as defined herein);
WHEREAS, the Consultant is willing to provide the Services, all on the terms and conditions set forth more fully herein.   
NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, the parties, intending to be legally bound, hereby agree as follows:
1.Definitions.  All capitalized terms used but not defined herein shall have the meanings given in the Subscription Agreement.
2.Services. During the Term (as defined herein), Consultant shall perform the Services described on Exhibit A annexed hereto and made a part hereof. 
3.Compensation. 
a.In consideration for the Services to be rendered hereunder, the Company shall  concurrent with the execution of this Agreement, (i) issue the Warrant (as defined herein) to the Consultant and (ii) pay Consultant a fee of $150,000 (the “Fee”). 
b.All reasonable and documented out-of-pocket costs and expenses incurred by Consultant in connection with the performance of any Services under this Agreement shall be reimbursed by the Company within thirty (30) days after submission of the receipts or other supporting documentation thereof to the Company.  The reimbursable costs and expenses under this Section 3(b) shall not exceed $50,000 without the prior written consent of the Company.  For the avoidance of doubt, the salaries and other compensation of any personnel of Consultant shall not be reimbursable under this Section 3(b).
4.Confidential Information.  
c.Each party (the “Receiving Party”) agrees that commencing on the date hereof and following the termination of this Agreement, for whatever reason, the Receiving Party will not, without the authorization of the other party (the “Disclosing Party”), use the Disclosing Party’s Confidential Information for any purpose other than for the performance of its obligations hereunder, or divulge, disclose or otherwise communicate to any Person any 
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Confidential Information (defined below) that it has learned or may learn by reason of its association with the Disclosing Party or any of its subsidiaries and affiliates.  Confidential Information shall exclude information that: (i) at or after the time of disclosure, is or becomes generally available to the public (other than as a result of its unauthorized disclosure by the Receiving Party or any Person or entity to whom the Receiving Party disclosed any such Confidential Information); (ii) was known by the Receiving Party prior to disclosure by the Disclosing Party; (iii) following its disclosure by the Disclosing Party hereunder, was disclosed to Receiving Party by a third party who, to the knowledge of the Receiving Party, did not owe a duty of confidentiality to the Disclosing Party; (iv) is developed by the Receiving Party or one of its affiliates, advisors or representative without reference to or use of Confidential Information; or (e) is required to be disclosed by the Receiving Party pursuant to applicable law or an order of a governing authority applicable to the Receiving Party, in which case the Receiving Party shall, to the extent legally permissible, provide the Disclosing Party with prompt written notice of such requirement, and the Receiving Party shall cooperate with the Disclosing Party, at the Disclosing Party’s expense, to seek to limit such disclosure, including, if requested, taking all reasonable steps to resist or avoid any such legal, judicial, regulatory or administrative process.  The Receiving Party shall be permitted to disclose Confidential Information to employees, advisors and/or representatives of the Receiving Party (such Receiving Party’s “Representatives”) (but only if the Representatives either have agreed to be bound by obligations of confidentiality or otherwise owe a duty of confidentiality to the Receiving Party).  Each party will be responsible for any breach of this Agreement by it or any deemed breach of this Agreement by any of its Representatives.  Consultant is aware, and will advise its Representatives to whom any Confidential Information is disclosed, of the restrictions imposed by the United States securities laws on the purchase or sale of securities by any person who has received material, nonpublic information about the issuer of such securities and on the communication of such information to any other person when it is reasonably foreseeable that such other person is likely to purchase or sell such securities in reliance upon such information.  Consultant agrees that it and its Representatives will refrain from trading in the securities of the Company in violation of applicable law.
d.For purposes of this Agreement, “Confidential Information” consists of information proprietary to the Disclosing Party which is not generally known to the public, and which the Disclosing Party disclosed to the Receiving Party or the Receiving Party acquired through or as a consequence of the Receiving Party’s relationship with the Disclosing Party.  By way of example and without limitation, “Confidential Information” consists of trade secrets, patented processes, inventions, copyrights, techniques, recipes, formulas, technologies, software, applications, platforms, codes, designs and other technical information in any way concerning or referring to the Disclosing Party’s products or services, research, concepts, processes, machines, manufacturing or engineering and development operations and capabilities, vendor lists, templates, and other proprietary information and materials.  Confidential Information also includes, without limitation, information in any way concerning or referring to the Disclosing Party’s business methods, business plans, forecasts and projections, operations, organizational structure, finances, customers, customer lists, investor lists, pricing, costing, marketing, purchasing, merchandising, employees or their compensation, data processing, and all other information not generally known to the public designated by the Disclosing Party as “confidential” or reasonably understood to be confidential, including without limitation, this Agreement and the Grant Agreement.
e.Upon the expiration or termination of this Agreement and receipt of written request from a Disclosing Party, the applicable Receiving Party shall, at its election, return or destroy all of such Disclosing Party’s Confidential Information in its possession, custody or 
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control, and certify in writing to the Disclosing Party that it has done so.  Notwithstanding the foregoing, the obligation to return or destroy shall not apply to any backup copies of the Disclosing Party’s Confidential Information created and stored automatically by the routine operation of the Receiving Party’s systems, or to a copy of such information maintained for purposes of enforcing the Receiving Party’s rights under this Agreement.
5.Warrant.
f.Concurrently with the execution of this Agreement and subject to the terms and conditions of the Warrant, the Company shall issue to Consultant, and Consultant shall acquire from the Company, a warrant from the Company in the form attached hereto as Exhibit B (the “Warrant”) to purchase shares of Class A Common Stock, par value $0.0001, of the Company (the “Class A Common Stock”) that, upon the exercise of such Warrant in full, will entitle Consultant to receive the number of duly authorized, validly issued, fully paid and non-assessable shares of Class A Common Stock set forth in the Warrant.
6.Investment Opportunity.  
g.If the Company consummates a Transaction (a “Closing”) during the Term or within the twelve (12) month period following the termination of this Agreement (or three (3) months in the case of a termination of this Agreement by the Company for a Fundamental Breach (as defined herein)), the Company shall use its reasonable best efforts to offer Consultant (or, at Consultant’s option, one of Consultant’s affiliates) with the opportunity to make a preferred equity investment (the “Investment”) in the Company simultaneously with the Closing.  The terms of any such Investment shall be mutually agreed by both Consultant and the Company and, unless agreed otherwise as between Consultant and the Company, consistent with the terms set forth in Exhibit C.  The Company shall provide Consultant with notice of such Transaction prior to the Closing thereof and in any event not less than forty five (45) business days prior to the Closing, which notice shall include the identity of the prospective counterparty and all of the material terms of such Transaction known to the Company at such time.  For the avoidance of doubt, neither the Company nor Consultant shall have an obligation to consummate any Investment pursuant to this Section 6.  The parties shall negotiate the terms and conditions of the Investment in good faith consistent with the terms set forth on Exhibit C and the Company agrees to promptly notify Consultant in writing of any material changes to the terms and conditions of the Transaction prior to the Closing.
h.In the event that shareholder approval is necessary for any reason in connection with the Investment, the Company hereby covenants to use its reasonable best efforts to obtain such favorable vote or otherwise stage or structure the Investment to accomplish the Investment without the need for such shareholder approval. The Company agrees to otherwise use its reasonable best efforts to take any and all other actions to facilitate the consummation of the Investment.
i.A “Transaction” means (i) any merger, consolidation, tender offer, recapitalization, share exchange, business combination, acquisition or similar transaction or series of transactions (1) involving the direct or indirect acquisition of a majority of the total voting power of the capital stock or other ownership interests of a Target by the Company or one of its Subsidiaries (collectively, the “Company Group”), (2) involving the direct or indirect acquisition of a majority of the consolidated assets (based on the fair market value thereof) of a Target by a member of the Company Group or (3) pursuant to which a member of the Company Group or its equityholders would own, directly or indirectly, a majority of the equity securities of 
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a Target or a majority of the equity securities of the surviving entity in a merger involving a member of the Company Group and such Target or the resulting direct or indirect parent of such Target or such surviving entity or (ii) any other transaction or series of transactions involving the Company Group, which, if consummated, would result in a direct or indirect acquisition by a member of the Company Group of a majority of the total voting power of the capital stock or other ownership interests, or a majority of the consolidated assets (based on the fair market value thereof), of a Target, in one transaction or a series of transactions; provided, however, that the Target in such Transaction must have been identified, discussed, pursued or otherwise contemplated between the Company and Consultant and Consultant must have performed Services in respect of such Target at the direction of the Company, in each case during the Term. A “Target” is a Person with an enterprise value as of the end of the last trading day before the public announcement of a Transaction equal or greater than to the lesser of (x) 50% of the Company Group’s enterprise value as of the end of the last trading day before the public announcement of a Transaction and (y) one hundred million dollars.  In the event of any merger, consolidation, tender offer, recapitalization, share exchange, business combination, acquisition or similar transaction or series of transactions pursuant to which a member of the Company Group or its equityholders would own, directly or indirectly, less than a majority but at least 25% of the equity securities of the surviving entity in a merger involving a member of the Company Group and such Target or the resulting direct or indirect parent of such Target or such surviving entity, the Company will use its reasonable efforts to offer Consultant (or, at Consultant’s option, one of Consultant’s affiliates) with the opportunity to make an investment in the surviving entity simultaneously with the Closing.  
j. “Fundamental Breach” means (i)  Consultant’s or its employee’s, officer’s, director’s or agent’s gross negligence, bad faith or willful misconduct in connection with the provision of the Services; (ii) Consultant’s willful and continued failure to perform the Services hereunder, including being appropriately responsive to the Company, in any material respect; (iii) either Jason Karp or Ross Berman no longer providing Services to the Company (including in the event that either Jason Karp or Ross Berman is no longer affiliated with Consultant) during any continuous 30 day period between the Effective Date and June 1, 2023; (iv) Consultant failing to use its commercially reasonable best efforts to identify and analyze candidates for a potential Transaction if directed or consented to by the Company; (v) Consultant publicly disparaging the Company or its officers and directors, in any manner that would reasonably be expected to be materially harmful to them or their business, business prospects, business reputation or personal reputation; or (vi) Consultant, without the prior written consent of the Company, introduces a third party to a Target that has been identified, discussed, pursued or otherwise contemplated between the Company and Consultant and Consultant must have performed Services in respect of such Target at the direction of the Company, in each case during the Term, for the purposes of effecting a transaction similar to a Transaction between such Target and third party; provided, that in the case of clauses (ii)-(vi), the Company must provide written notice of such breach or failure, and Consultant shall have ten (10) business days to cure such Fundamental Breach if such Fundamental Breach is of the nature that can be cured.
k.A “Person” means any individual, corporation (including not-for-profit), general or limited partnership, limited liability company, joint venture, estate, trust, association, organization, governmental entity or other entity of any kind or nature.
7.Term; Termination. 
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l.Term.  Unless sooner terminated as provided herein, the term of this Agreement (the “Term”) shall commence as of the date hereof and continue until terminated in accordance with this Agreement.
m.Termination.  From and after the date that is three (3) months following the Effective Date, either party may terminate this Agreement for any reason by providing five (5) day’s prior written notice to the other party of such termination.  
n.Mutual Termination.  The parties may mutually agree in writing, executed and exchanged between them, to terminate this Agreement at any time.  
o.Survival. Notwithstanding any termination of this Agreement, the provisions set forth in Sections 4, 6, this 7(d), and 8 – 16 hereof shall survive such termination; provided, that if this Agreement is terminated by the Company in connection with Consultant’s or its employee’s, officer’s, director’s or agent’s engagement in illegal conduct constituting a felony or gross misconduct in carrying out the terms of this Agreement, Section 6 shall not survive such termination.
8.Representations and Warranties.  Each party hereby represents and warrants to the other that: (a) it has all power and authority to enter into this Agreement, and the person signing for such party below is fully authorized to do so; and (b) its entry into and performance under this Agreement will not conflict with or violate any other agreement to which such party is bound.
9.Indemnification.  
p.The Company shall indemnify, defend and hold harmless the Consultant, each member of the HumanCo Group and each of their respective officers, managers, directors, members, employees, agents, permitted successors and permitted assigns from and against any and all losses, liabilities, damages, injuries, actions, causes of action, claims, settlements, lawsuits, judgements, demands, costs and expenses (including, without limitation, reasonable outside attorneys’ fees and expenses, including any incurred in enforcement of this provision) (collectively, “Losses”) arising out of, resulting from, or related to this Agreement, except as a result of gross negligence, willful misconduct or material breach of this Agreement by Consultant or its employees, officers, directors, agents or affiliates.
q.Consultant shall indemnify, defend and hold harmless the Company, and its officers, managers, directors, members, employees, agents, permitted successors and permitted assigns from and against any and all Losses arising out of, resulting from, or related to Consultant’s or its employee’s, officer’s, director’s, agent’s or affiliate’s gross negligence, bad faith, willful misconduct or material breach of this Agreement.
r.A party seeking indemnification under this Section 9 (the “Indemnified Party”) shall give prompt written notice to the Company (the “Indemnifying Party”) of any third party claim, demand, action, or cause of action (each, a “Claim”) giving rise to an indemnification obligation hereunder, provided that failure to do so shall not relieve the Indemnifying Party from its obligations hereunder unless the Indemnifying Party is materially prejudiced by such failure.  The Indemnifying Party shall have sole control over the defense and settlement of all Losses, provided that the Indemnifying Party shall not agree to any settlement, judgment or compromise without the Indemnified Party’s prior written consent, which shall not be unreasonably withheld, delayed or conditioned.  The Indemnified Party shall reasonably cooperate with and assist the Indemnifying Party, at the Indemnifying Party’s expense, and shall have the right to participate 
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in the defense with counsel of its own choosing, at its own expense.  Notwithstanding the foregoing, the Indemnifying Party shall not be entitled to control the defense or settlement of any Claim to the extent that, in the good faith judgment of the Indemnified Party, the Indemnifying party failed or is failing to vigorously prosecute or defend.
10.Disclaimer.  EXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT, THE SERVICES AND ALL OTHER INFORMATION AND MATERIALS THAT MAY BE PROVIDED OR MADE AVAILABLE BY CONSULTANT ARE PROVIDED “AS IS.”  EXCEPT AS EXPRESSLY PROVIDED IN SECTION 8 OF THIS AGREEMENT, CONSULTANT DOES NOT MAKE OR GIVE ANY REPRESENTATION OR WARRANTY OR CONDITION OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY, QUALITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT, OR ANY REPRESENTATION, WARRANTY OR CONDITION FROM COURSE OF DEALING OR USAGE OF TRADE, AND ALL OTHER WARRANTIES, EXPRESS AND IMPLIED, ARE EXPRESSLY DISCLAIMED.  WITHOUT LIMITING THE FOREGOING, EXCEPT AS SET FORTH HEREIN, CONSULTANT MAKES NO REPRESENTATION, WARRANTY OR GUARANTEE OF ANY KIND THAT ANY SERVICES, DELIVERABLES, INFORMATION, OR MATERIALS, OR ANY PRODUCTS OR RESULTS OF THE USE THEREOF, WILL MEET ANY OTHER PERSON OR ENTITY’S REQUIREMENTS, ACHIEVE ANY INTENDED RESULT, OR BE ACCURATE, COMPLETE, OR ERROR-FREE.   
11.Limitation of Liability. 
s.IN NO EVENT SHALL EITHER PARTY BE LIABLE FOR ANY LOSS OF USE, REVENUE, OR PROFIT OR LOSS OF DATA OR DIMINUTION IN VALUE, OR FOR ANY CONSEQUENTIAL, INCIDENTAL, INDIRECT, EXEMPLARY, SPECIAL, OR PUNITIVE DAMAGES UNDER THIS AGREEMENT, WHETHER ARISING OUT OF BREACH OF CONTRACT, TORT (INCLUDING NEGLIGENCE), OR OTHERWISE, REGARDLESS OF WHETHER SUCH DAMAGE WAS FORESEEABLE AND WHETHER OR NOT SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, AND NOTWITHSTANDING THE FAILURE OF ANY AGREED OR OTHER REMEDY OF ITS ESSENTIAL PURPOSE.
t.THE COMPANY ALSO AGREES THAT CONSULTANT SHALL HAVE NO LIABILITY WHATSOEVER TO THE COMPANY OR ANY OF ITS EQUITY HOLDERS, SUBSIDIARIES, AFFILIATES OR CREDITORS OR ANY OTHER PERSON OR ENTITY ASSERTING CLAIMS ON BEHALF OF THE COMPANY RELATED TO OR ARISING OUT OF THIS AGREEMENT OR THE PERFORMANCE BY CONSULTANT OF THE SERVICES CONTEMPLATED HEREIN, EXCEPT FOR SUCH DAMAGES, IF ANY, DETERMINED IN A FINAL, NON-APPEALABLE JUDGMENT BY A COURT OF COMPETENT JURISDICTION TO HAVE RESULTED FROM THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF CONSULTANT.  IN SUCH A CASE, THE COMPANY’S SOLE REMEDY.
12.Independent Contractor. The Consultant is not, and Consultant shall not be deemed to be at any time during the Term of this Agreement, an employee of the Company, and therefore the Consultant shall not be entitled to any benefits provided by Company to its employees (such as health and disability benefits), except as provided herein. Consultant’s status and relationship to the Company is that of an independent contractor.  Consultant is not an agent of the Company 
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and is not authorized to bind or act on behalf of the Company.  Nothing herein shall create, expressly or by implication, a partnership, joint venture or other association between the parties. 
13.Notices.  Any notice required or permitted by this Agreement shall be in writing and shall be deemed delivered (i) upon receipt, if delivered personally or by courier, (ii) the next business day, if sent by recognized overnight delivery service, or (iii) upon receipt, if delivered via email (to be followed by delivery using one of the methods specified in clause (i) or (ii)), if such notice is addressed to the party to be notified at such party’s address set forth below, or as subsequently modified by written notice.
To the Company:
Grove Collaborative Holdings, Inc.
1301 Sansome Street
San Francisco, CA 94111
Attention: Nathan Francis
Email: nfrancis@grove.co 
with a copy (which shall not constitute notice) to:
Sidley Austin LLP 
1001 Page Mill Road
Building 1
Palo Alto, CA 94304
Attention: Martin A. Wellington
Email: mwellington@sidley.com
To the Consultant:
HCI Grove Management LLC 
98 San Jacinto Blvd, 4th Floor 
Austin, TX 78701
Attention: Ross Berman
Email: ross@humanco.com
with a copy (which shall not constitute notice) to:
Katten Muchin Rosenman LLP
50 Rockefeller Plaza
New York, New York 10020
Attention: David Kravitz, Mark Wood and Bret Diskin
Email: david.kravitz@katten.com; mark.wood@katten.com; bret.diskin@katten.com
14.Severability.  If a court of competent jurisdiction determines that any term or provision hereof is invalid or unenforceable: (i) the remaining terms and provisions hereof will be unimpaired; and (ii) such court will have the authority to replace such invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the parties relating to the invalid or unenforceable term or provision.
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15.Miscellaneous. The Services to be performed hereunder are personal and neither the Company nor Consultant shall assign their respective rights hereunder or delegate their respective obligations without the prior written consent of the other party, which shall not be unreasonably withheld.  This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors, permitted assigns, heirs, executors and administrators.  Except as specifically provided herein, there are no third party beneficiaries of this Agreement.  This Agreement shall be governed by and construed in accordance with the internal laws of the State of Delaware, without regard to its conflicts of law provisions. This Agreement may not be modified or amended except in a writing executed by the duly authorized representatives of the Company and the Consultant. No waiver by either party of any right or remedy hereunder shall be valid unless the same shall be in writing and signed by the party giving such waiver. Any waiver by a party of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any subsequent breach of such provision or any other provision hereof. This Agreement, together with the Grant Agreement, constitutes the entire understanding of the parties with respect to the subject matter hereof, and supersedes all prior proposals and agreements, written or oral, and all other communications between the parties relating to the subject matter of this Agreement.  This Agreement may be executed in any number of counterparts, each of which shall be deemed an original and which together shall constitute one agreement binding on the parties hereto.  Executed counterparts to this Agreement may be delivered via facsimile or via PDF in electronic mail with the same force and effect as an original signature, all of which, when taken together, shall constitute a single enforceable instrument.
16.Jurisdiction; Waiver of Jury Trial.  
u.Each party hereby irrevocably and unconditionally submits to the exclusive jurisdiction of any Delaware State court, or Federal court of the United States of America, sitting in the State of Delaware, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement, and each party hereby irrevocably and unconditionally (a) agrees not to commence any such action or proceeding except in such courts; (b) agrees that any claim in respect of any such action or proceeding may be heard and determined in such Delaware State court or, to the extent permitted by law, in such Federal court; (c) waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any such action or proceeding in any such Delaware State or Federal court; and (d) waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such Delaware State or Federal court.  Each Party agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.  Each party irrevocably consents to service of process in the manner provided for notices in Section 13.  Nothing in this Agreement will affect the right of any party hereto to serve process in any other manner permitted by applicable law.
v.EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE IT HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT.  EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE EITHER OF SUCH WAIVERS; (II) IT UNDERSTANDS AND HAS CONSIDERED THE 
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IMPLICATIONS OF SUCH WAIVERS; (III) IT MAKES SUCH WAIVERS VOLUNTARILY; AND (IV) IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 16(b).

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IN WITNESS WHEREOF, the undersigned have executed this Consulting Services Agreement as of the date set forth above.

						
	GROVE COLLABORATIVE HOLDINGS, INC.
	By:	/s/ Stu Landesberg
	Name: Stu Landesberg
	Title: CEO

						
	HCI GROVE MANAGEMENT LLC
	By:	/s/ Ross Berman
	Name: Ross Berman
	Title: Authorized Signatory

[Signature Page to Consulting Services Agreement]

4854-4301-2669v.10Exhibit
10.11

 

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

 

COMMON
STOCK PURCHASE WARRANT

 

SONDORS
iNC.

 

	Warrant
    Shares: _____	 	Initial
    Exercise Date: __________

 

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

 

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

 

 

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

2
NTD: The number of Warrant Shares shall be calculated by multiplying the principal amount of the Notes purchased by all purchasers
pursuant to the Purchase Agreement (i.e., $3,500,000) by 0.10 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.

 

(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.

 

    	4

     

    

 

(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.

 

    	10

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

(Signature
Page Follows)

 

    	11

     

    

 

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

 

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

 

    	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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