Document:

EX-10.5

 Exhibit 10.5 

TRANSITION SERVICES AGREEMENT 

This TRANSITION SERVICES AGREEMENT (as amended, restated, supplemented or otherwise modified in accordance with
Section 13.05 hereof, this “Agreement”), dated effective as of May 5, 2021 (the “Effective Date”), is made and entered into between Squatty Potty, LLC, a Delaware limited liability
company (“Service Provider”), and Truweo, LLC, a Delaware limited liability company (“Acquisition Sub” and, collectively with each of its subsidiaries, “Recipient”) (each of Service Provider and
Recipient, a “Party” and, together, the “Parties”). All capitalized terms used herein but not defined in ARTICLE I hereof shall have the meaning assigned to them in the Asset Purchase Agreement (as defined
below). 
 RECITALS 

WHEREAS, (i) Aterian, Inc., a Delaware corporation (“Parent”), and Acquisition Sub (together with Parent,
“Purchaser”), (ii) Service Provider, and (iii) only for the purposes of certain stated sections, Edwards SP Holdings, LLC, Team Lindsey, LLC, SLEKT Investments, LLC, Sachs Capital Fund II, LLC, Sachs Capital-Squatty, LLC and
Bevel Acquisition II, LLC, entered into that certain Asset Purchase Agreement, dated as of the Effective Date (as amended, restated, supplemented or otherwise modified in accordance with its terms, the “Asset Purchase Agreement”),
pursuant to which Recipient purchased the Acquired Assets and assumed the Assumed Liabilities; 
 WHEREAS, in an effort to ensure an
orderly transition of the Acquired Assets to Purchaser, in connection with, and as a condition to, the consummation of the Transactions, Service Provider has agreed to provide the Services to the Recipient from and after the Effective Date, pursuant
to the terms and conditions set forth in this Agreement; and 
 WHEREAS, the execution, delivery and performance of this Agreement by
the Parties is a condition to the consummation of the Transactions. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing and of the mutual agreements contained herein, and for other good and valuable
consideration, the value, receipt and sufficiency of which are acknowledged, and intending to be legally bound hereby, the Parties hereby agree as follows: 

ARTICLE I 
 DEFINITIONS;
RULES OF CONSTRUCTION 
 Section 1.01 Definitions. All For purposes of this Agreement, the following terms have the meanings
set forth below: 
 (a) “Acquisition Sub” has the meaning set forth in the Preamble. 

 (b) “Agreement” has the meaning set forth in the Preamble. 

(c) “Asset Purchase Agreement” has the meaning set forth in the Recitals. 

(d) “Audit Right” has the meaning set forth in Section 4.06. 

(e) “Billing Period” has the meaning set forth in Section 4.03. 

(f) “Claim” means any claim (including any cross-claim or counterclaim), cause of action, allegation, charge, complaint,
demand, dispute and other assertion of Liability, whenever or however arising, including by Law, Contract, tort, equity or otherwise. 
 (g)
“Completion Notice” has the meaning set forth in Section 3.02(b). 
 (h) “Early
Termination Consequence” has the meaning set forth in Section 3.02(a). 
 (i) “Effective
Date” has the meaning set forth in the Preamble. 
 (j) “Expiration Date” has the meaning set forth in
Section 3.01. 
 (k) “Invoice” has the meaning set forth in
Section 4.03. 
 (l) “Objective Standard of Completion” means, with respect to any Service, the
standards and requirements set forth on the Transition Services Schedule corresponding to such Service. 
 (m) “Parent” has
the meaning set forth in the Preamble. 
 (n) “Party” and “Parties” have the meanings set forth in the
Preamble 
 (o) “Payment Due Date” has the meaning set forth in Section 4.04. 

(p) “Point of Contact” has the meaning set forth in ARTICLE X. 

(q) “Recipient” has the meaning set forth in the Preamble. 

  
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 (r) “Service” and “Services” have the meanings set forth
in Section 2.01. 
 (s) “Service Fee” has the meaning set forth in
Section 4.01. 
 (t) “Service Period” has the meaning set forth in
Section 3.01. 
 (u) “Service Provider” has the meaning set forth in the Preamble. 

(v) “Service Provider Sales Tax” has the meaning set forth in Section 4.01. 

(w) “Tax Amount” has the meaning set forth in Section 4.01. 

(x) “Tax Authority” means any Governmental Authority having the power to impose, regulate, collect or administer the
imposition of Taxes, including the Internal Revenue Service and any state or local department of revenue. 
 (y) “Termination
Notice” has the meaning set forth in Section 3.02(a). 
 (z) “Transition Period” has the
meaning set forth in the Fee Schedule section of Schedule I. 
 (aa) “Transition Services Schedule” has the meaning
set forth in Section 2.01. 
 Section 1.02 Rules of Construction. The following rules of construction
shall govern the interpretation of this Agreement: (a) all references to Articles, Sections, Exhibits or Schedules are to Articles, Sections, Exhibits or Schedules in this Agreement; (b) each accounting term not otherwise defined in this
Agreement has the meaning assigned to it in accordance with GAAP; (c) unless the context otherwise requires, words in the singular or plural include the singular and plural, and pronouns stated in either the masculine, the feminine or neuter
gender shall include the masculine, feminine and neuter; (d) whenever the words “include,” “includes” or “including” are used in this Agreement they shall be deemed to be followed by the words “but not limited
to;” (e) the word “extent” in the phrase “to the extent” shall mean the degree to which a subject or other thing extends, and such phrase shall not simply mean “if;” (f) references to any statute, rule,
regulation or form (including in the definition thereof) shall be deemed to include references to such statute, rule, regulation or form as amended, modified, supplemented or replaced from time to time (and, in the case of any statute, include
any rules and regulations promulgated under such statute), and all references to any section of any statute, rule, regulation or form include any successor to such section; (g) when calculating the period of time before which, within which or
following which any act is to be done or step taken pursuant to this Agreement, the date that is referenced in beginning the calculation of such period will be excluded (for example, if an action is to be taken within two days after a triggering
event and such event occurs on a Tuesday, then the action must be taken on or prior to Thursday); if the last day of such period is a non-Business Day, the period in question will end on the next succeeding
Business Day; (h) time is of the essence with regard to all dates and time periods set forth or referred to in 

  
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this Agreement; (i) the subject headings of Articles and Sections of this Agreement are included for purposes of convenience of reference
only and shall not affect the construction or interpretation of any of its provisions; (j) (i) the terms “hereof,” “herein,” “hereby,” “hereto,” and derivative or similar words refer to this entire
Agreement, including the Schedules and Exhibits hereto; and (ii) the term “any” means “any and all”, and (iii) the term “or’ shall not be exclusive and shall mean “and/or;” (k) (i) references to
“days” means calendar days unless Business Days are expressly specified, (ii) references to “$” mean U.S. dollars; (l) the Parties intend that each representation, warranty, covenant and agreement contained herein
shall have independent significance, and if any Party has breached any representation, warranty, covenant or agreement contained herein in any respect, the fact that there exists another representation, warranty, covenant or agreement relating to
the same or similar subject matter that the Party has not breached shall not detract from or mitigate the fact that the Party is in breach of the first representation, warranty, covenant or agreement; (m) all uses of “written”
contained in this Agreement shall be deemed to include information transmitted via e-mail, facsimile or other electronic transmission; (n) any drafts of this Agreement circulated by or among the Parties
prior to the final fully executed drafts shall not be used for purposes of interpreting any provision of this Agreement, and each of the Parties agrees that no Party shall make any Claim, assert any defense or otherwise take any position
inconsistent with the foregoing in connection with any dispute or Proceeding among any of the foregoing or for any other purpose; and (o) the Parties have participated jointly in the negotiation and drafting of this Agreement; in the event an
ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the Parties, and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any
of the provisions of this Agreement and the language used in it will be deemed to be the language chosen by the Parties to express their mutual intent. 

ARTICLE II 
 SERVICES
PROVIDED 
 Section 2.01 Transition Services. Subject to the terms and conditions provided herein, Service Provider shall
provide, or cause to be provided, to Recipient the service(s) set forth in the Transition Services Schedule attached hereto as Schedule I (the “Transition Services Schedule”), which Transition Services Schedule constitutes
part of this Agreement. Each discrete service set forth in the Transition Services Schedule shall be referred to herein as a “Service” and collectively, all the services set forth on the Transition Services Schedule shall be
referred to herein as “Services.” 
 Section 2.02 Transition of Assets. Upon the expiration or earlier
termination of this Agreement, Service Provider shall reasonably cooperate with Recipient to facilitate the transfer of any remaining Specified Inventory acquired pursuant to the Asset Purchase Agreement, other inventory acquired after the Closing
Date but held at Service Provider’s facilities and premises or other Acquired Assets still in Service Provider’s facilities and premises, to a location determined by Purchaser. 

  
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 ARTICLE III 

TERM AND TERMINATION 

Section 3.01 Term. The term of this Agreement shall commence on the Effective Date and shall remain in effect until the six month
anniversary of the Effective Date (the “Expiration Date”), unless earlier terminated pursuant to Section 3.02. With respect to each Service, the term of this Agreement shall commence on the Effective Date
and shall remain in effect until the earlier of the Expiration Date, the completion of the Services by Service Provider as reasonably determined by Purchaser in good faith, or the date such Service is terminated pursuant to the terms of
Section 3.02 (each, a “Service Period”). 
 Section 3.02 Termination. 

(a) Recipient may terminate this Agreement with respect to all or any one or more of the Services and release Service Provider from performance
of the same immediately upon written notice to Service Provider (a “Termination Notice”). If Recipient provides a Termination Notice with respect to one or more (but not all) of the Services, as soon as reasonably practicable
following receipt of a Termination Notice, Service Provider shall notify Recipient as to whether the termination of any Service or Services that are the subject of the Termination Notice will require termination or partial termination of any other
Service or Services (an “Early Termination Consequence”). If Service Provider notifies Recipient of an Early Termination Consequence, Recipient may withdraw its Termination Notice within 10 days of such notification. If Recipient
does not withdraw such Termination Notice within such time period, termination of such Services will be final, including with respect to the termination of any other Service or Services identified by Service Provider as an Early Termination
Consequence. Recipient shall not have the right to reinstitute any Service once such Service has been terminated for any reason. 
 (b) With
respect to any Service(s), at any time following Service Provider’s good faith determination that Service Provider has completed such Service(s) in accordance with the corresponding Objective Standard of Completion set forth in the Transition
Services Schedule, Service Provider may notify Recipient in writing of the completion of such Service (a “Completion Notice”). As soon as reasonably practicable following Recipient’s receipt of a Completion Notice, but in any
event within 10 days of such receipt, Recipient shall notify Service Provider as to any disagreement regarding the completion of such Service, together with a detailed description of any additional work that Recipient has in good faith determined is
necessary for Service Provider to fulfill the relevant Objective Standard of Completion. If Recipient does not respond to such Completion Notice within such time period, completion of such Services will be final, and such Services will be deemed
terminated as of the date of the Completion Notice. 
 (c) Service Provider may terminate this Agreement (with respect to all or with respect
to any one or more of the Services) immediately upon written notice of termination to Recipient if Recipient breaches this Agreement and fails to cure such breach within 45 days after a written notice is delivered by Service Provider to Recipient.

 (d) This Agreement will automatically terminate without any further action by either Party on the earlier of: (i) the Expiration Date
or (ii) the date of termination or expiration of all Service Periods. 
 Section 3.03 Effect of Termination. Upon any
termination or expiration of this Agreement, all rights, obligations and liabilities of the Parties under this Agreement shall terminate and become void, except that the following provisions shall survive such termination or expiration: this
Section 3.03, ARTICLE I, ARTICLE VI, ARTICLE VIII, ARTICLE IX, ARTICLE XII, and ARTICLE XIII and any other definitions set forth in this Agreement necessary to interpret any
of the foregoing provisions 

  
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referenced in this Section 3.03. In addition, all of Recipient’s obligations to pay Service Provider any Services Fees that are outstanding under ARTICLE IV
as of the termination date or expiration date of this Agreement shall survive any such termination or expiration of this Agreement. Notwithstanding the foregoing, in the event of any termination of this Agreement with respect to one or more, but
less than all, of the Services, this Agreement shall continue in full force and effect with respect to any Services not terminated under Section 3.02 hereof. 

ARTICLE IV 

COMPENSATION 

Section 4.01 Fees. In connection with the provision of a Service by Service Provider, subject to the terms and conditions set
forth herein, Recipient agrees to pay to Service Provider amounts as set forth on the Transition Services Schedule for such Services that are performed by Service Provider (the “Service Fees”). 

Section 4.02 Taxes. To the extent that any sales Taxes or other similar Taxes are applicable to any of the Service Fees (the
“Service Provider Sales Tax”), Service Provider is liable to account for and remit such Service Provider Sales Taxes to the relevant Tax Authorities according to applicable Law. Service Provider can charge such Service Provider
Sales Taxes (the “Tax Amount”) to Recipient and Recipient will pay Service Provider such amount in addition to the Service Fees paid pursuant to Section 4.01 upon receipt of any documentation as may be
requested by Recipient to assist it in substantiating or recovering such Service Provider Sales Taxes. In the event that applicable Laws require that any portion of a Tax Amount be withheld from any payment by Recipient under this Agreement, then
the sum payable by the Recipient shall be increased to the extent necessary to ensure that after the making of that deduction or withholding of the Service Provider Sales Tax, the Service Provider receives a net amount equal to the amount that the
Service Provider would have received had no such deduction or withholding been made. For the avoidance of doubt, the Recipient has no obligation to reimburse the Service Provider for, or increase the sum payable to the Service Provider in respect
of, any Taxes imposed on or measured by income or similar Taxes. 
 Section 4.03 Invoices. In each month during the Term,
Service Provider shall deliver to Recipient an invoice on the first day of such month and the 15th day of such month (or if not on a Business Day, then the first Business Day immediately preceding
such day) (each invoice for the period of time commencing on the day of such invoice and continuing until the day of the next invoice, a “Billing Period”) for the Services to be performed by Service Provider in such Billing Period
(each, an “Invoice”); provided that no Invoice shall be for an amount in excess of one half (1/2) of the maximum monthly amount of the Service Fee set forth on the Transition Services Schedule. Such Invoice shall set forth
(a) a description of the Services to be performed by Service Provider during such Billing Period, (b) an itemized calculation of the Service Fees for each of the Services to be performed by Service Provider during such Billing Period,
(c) an itemized calculation of the Tax Amounts in respect of such Services, and (d) payment instructions, including all wire transfer information, for the payment of such Service Fees and Tax Amounts. 

Section 4.04 Payment. All amounts required to be paid by Recipient under this Agreement shall be due in cash within 10 days of
Recipient’s receipt of the applicable Invoice (the “Payment Due Date”). Payment shall be deemed made on the date Recipient’s wire transfer is received by Service Provider. 

  
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 Section 4.05 Right to Suspend Services. If payment in full of any Invoice is not
received by Service Provider from Recipient on or prior to the applicable Payment Due Date, in addition to all other rights of Service Provider hereunder, Service Provider shall have the right, after giving 10 days’ prior written notice thereof
to Recipient, to suspend all or any portion of the Services until such time as Recipient has paid in full all amounts then due, including any accrued interest. After such payment in full is received and as long as Recipient continues to perform
hereunder, Service Provider shall promptly resume providing, or causing to be provided, the Services to Recipient until the Expiration Date, subject to earlier termination thereof in accordance with ARTICLE III. 

Section 4.06 Audit Right. Service Provider shall keep and maintain all books and records relating to the Services. At any time
during the term of this Agreement and for one year thereafter, Recipient shall have the right, at Recipient’s expense, to audit, examine and make copies of or extracts from the books and records of Service Provider (the “Audit
Right”), to the extent necessary to verify the performance by Service Provider of the Services and its obligations under this Agreement. Recipient may exercise the Audit Right through such auditors (or other Representatives) as it may
determine in its sole discretion. Recipient shall (a) exercise the Audit Right only upon reasonable written notice to Service Provider and during normal business hours and (b) use its reasonable efforts to conduct the Audit Right in such a
manner as to minimize the inconvenience and disruption to Service Provider. All documentation and information provided under this Section 4.06 in connection with any such review or audit shall be subject to
Section 8.01. 
 ARTICLE V 

STANDARD OF CARE; GENERAL OBLIGATIONS 

Section 5.01 Service Provider Standard of Care. Service Provider hereby agrees to use commercially reasonable efforts in good
faith to provide, or cause to be provided, Services in compliance with applicable Laws and in a timely, efficient and workmanlike manner, with the degree of skill and level of care no less in quality than that with which such Services were performed
in the ordinary course of business by Service Provider prior to the date hereof. Service Provider agrees to assign sufficient resources and qualified personnel as are reasonably required to perform the Services in accordance with the standards set
forth in the preceding sentence. 
 Section 5.02 Recipient Standard of Care. Recipient shall (a) promptly provide Service
Provider and its subcontractors with resources and materials and complete and accurate information and documentation, in each case, reasonably sufficient for Service Provider to perform, or cause to be performed, its obligations hereunder in a
timely manner, and (b) provide Service Provider and its subcontractors with timely decisions, approvals and acceptances so that Service Provider may accomplish its obligations hereunder in a timely manner. 

Section 5.03 Title; License. Unless transferred to Purchaser as an Acquired Asset under the Asset Purchase Agreement, Service
Provider represents that (a) it has, directly or indirectly, good and valid title to, or a valid leasehold or license interest in (including the right to give Recipient any access specified in this Agreement), all of the equipment, hardware,
intellectual property, IT systems, software and other assets necessary for the provision of the Services by Service Provider or its Affiliates, and (b) each of the foregoing are fit for the purpose of providing the Services. Service Provider
further represents that the assets licensed or leased from a third party and used in connection with providing the Services are subject to a valid and existing license or lease agreement, and neither Service Provider nor the licensor or lessor, as
applicable, is, or would be as a result of providing the Services, in breach or default of any such agreement. 

  
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 Section 5.04 Cooperation; Consents. Service Provider shall use commercially
reasonable efforts to obtain any consents, permits, approvals or licenses, implement any systems and to take, or cause to be taken, any and all other actions necessary or advisable for Service Provider to provide the Services. In the event that
Service Provider is unable to obtain any consent, permit, approval or license, the Parties will work together to agree upon a commercially reasonable alternative arrangement. 

ARTICLE VI 

RELATIONSHIP BETWEEN THE PARTIES 

Section 6.01 Relationship. This Agreement does not constitute a partnership, joint venture or formal business organization of any
kind. The Service Provider is an independent contractor for all purposes hereunder. The Service Provider shall have complete control over the performance of, and the details for accomplishing, the Services. In no event shall the Service Provider or
any of its Affiliates or any of their respective agents, representatives or employees be deemed to be agents, representatives or employees of the Recipient. The Service Provider’s employees shall be paid exclusively by the Service Provider for
all Services performed hereunder. 
 ARTICLE VII 

SUBCONTRACTORS 

Section 7.01 Subcontractors. Service Provider shall have the right to subcontract to any Person all or part of its obligations
under this Agreement only with the prior written consent of the Recipient and if such written consent is provided in no event shall the Service Fee charged to Recipient by Service Provider in respect of any Service(s) increase as a result of any
such subcontracting by Service Provider of such Service(s). Subject to the terms and conditions of this Agreement, Service Provider shall remain responsible for the performance of subcontracted Services by such subcontractor under this Agreement.
Service Provider shall have the right to designate which of its employees or subcontractors will furnish Services to Recipient, and may remove and/or replace any such employees or subcontractors in its sole discretion. 

ARTICLE VIII 

CONFIDENTIALITY 

Section 8.01 Confidentiality. Service Provider acknowledges and agrees that this Agreement and the transactions contemplated
hereby are deemed to be “Confidential Information” and shall be subject to the confidentiality provisions set forth in Section 5.13 of the Asset Purchase Agreement. 

  
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 ARTICLE IX 

LIMITATION OF LIABILITY AND DISCLAIMER 

Section 9.01 LIMITATION OF LIABILITY. IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER PARTY FOR ANY CONSEQUENTIAL,
INCIDENTAL, OR SPECIAL DAMAGES SUFFERED BY THE OTHER PARTY ARISING OUT OF A BREACH OF THIS AGREEMENT. EACH PARTY’S MAXIMUM LIABILITY TO, AND THE SOLE REMEDY OF, SUCH PARTY FOR ANY BREACH OF THIS AGREEMENT OR OTHERWISE WITH RESPECT TO SERVICES
SHALL NOT EXCEED THE AMOUNTS PAID FOR SERVICES UNDER THIS AGREEMENT. 
 Section 9.02 DISCLAIMER. EXCEPT AS EXPRESSLY SET FORTH
IN THIS AGREEMENT, INCLUDING ALL SCHEDULES, NEITHER PARTY MAKES ANY REPRESENTATIONS OR WARRANTIES TO THE OTHER REGARDING ITS PERFORMANCE OF ANY SERVICES PROVIDED HEREUNDER, WHETHER EXPRESS, IMPLIED OR OTHERWISE, AND BOTH PARTIES EXPRESSLY DISCLAIM
ANY IMPLIED WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE, TITLE, NON-INFRINGEMENT, AND MERCHANTABILITY. 

ARTICLE X 
 POINTS OF
CONTACT 
 Section 10.01 Relationship. Service Provider and Recipient shall each appoint an individual to act as its
point of contact (each, a “Point of Contact”) to deal with issues arising out of the performance of this Agreement, and to facilitate orderly provision and receipt of the Services. Initially the Point of Contact for Service Provider
shall be Bernie Kropfelder, c/o Jones, Waldo, Holbrook & McDonough, PC (Telephone: [...***...]; Email Address: [...***...]) and for Recipient shall be Christopher Porcelli (Telephone: [...***...]; Email Address:
[...***...]). Each Party agrees to provide reasonable access (in person, by telephone or electronically via e-mail) during normal business hours to its Point of Contact for problem resolution. Either
Party may replace its Point of Contact at any time with another individual of similar seniority by providing notice in accordance with Section 13.02. 

ARTICLE XI 
 ACCESS

 Section 11.01 Recipient Access. Service Provider shall provide, and cause its Affiliates and other agents to provide, to
Parent and its accounting, legal and other representatives, as well as their respective officers, employees, Affiliates and other agents, access at all reasonable times and during normal business hours, upon reasonable advanced notice, to the
Service Provider’s facilities and personnel as Recipient deems reasonably necessary or advisable, including in connection with the receipt of the Services and for the purpose of conducting inventory counts or inspections of any Acquired Assets
stored at such facilities or in connection with the exercise of Recipient’s Audit Rights. Recipient agrees that it and any of its accounting, legal and other representatives, as well as their respective officers, employees, Affiliates and other
agents that access Service Provider’s facilities shall use commercially reasonable efforts to conform to those policies, rules and procedures applicable to working onsite at Service Provider’s facilities, provided that Service
Provider has provided a copy of such policies to the Recipient in advance of such access. 

  
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 ARTICLE XII 

INTELLECTUAL PROPERTY 

Section 12.01 Intellectual Property Ownership. Except as expressly set forth in this Agreement, no license, title, ownership or
other Intellectual Property rights are transferred from either Party to the other Party or its Affiliates, and each Party retains all such rights, title, ownership and other interest in its Intellectual Property, as well as in its information
technology systems, platforms, applications and all other software, hardware, systems and resources it uses to provide or receive the Services, as applicable. 

Section 12.02 Limited Licenses to Use Intellectual Property. Subject to the terms and conditions of this Agreement,
(a) Service Provider hereby grants to Recipient a non-exclusive, royalty-free right and license to use, solely during the term of this Agreement, any and all relevant and applicable Intellectual Property
owned or licensable by Service Provider, but solely to the extent necessary for Recipient to receive and use the Services under this Agreement, and (b) Recipient hereby grants to Service Provider a
non-exclusive, royalty-free right and license to use, solely during the term of this Agreement, any and all relevant and applicable Intellectual Property owned or licensable by Recipient, but solely to the
extent necessary to enable Service Provider to provide the Services. 
 ARTICLE XIII 

MISCELLANEOUS 

Section 13.01 Expenses. Except as otherwise provided herein, all fees and expenses incurred in connection with or related to this
Agreement and the transactions contemplated hereby shall be paid by the Party incurring such fees or expenses, whether or not such transactions are consummated. 

Section 13.02 Notices. All notices and other communications made pursuant to or under this Agreement shall be in writing and shall
be deemed to have been duly given or made (a) when personally delivered, (b) as of the date transmitted when transmitted by electronic mail, (c) one Business Day after deposit with a nationally recognized overnight courier service, or
(d) three Business Days after the mailing if sent by registered or certified mail, postage prepaid, return receipt requested. All notices and other communications under this Agreement shall be delivered to the addresses set forth below, or such
other address as such Party may have given to the other Parties by notice pursuant to this Section 13.02 (or in the case of counsel, to such other readily ascertainable business address as such counsel may hereinafter
maintain): 

  
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	If to Service Provider:
	 Squatty Potty, LLC

Attention: Bernie Kropfelder, c/o Jones, Waldo, Holbrook &

McDonough, PC at address set forth below

	
	With a copy (which shall not constitute notice) to:
	 Jones, Waldo, Holbrook & McDonough, PC

170 S. Main St. Ste. 1500

Salt Lake City, UT 84101

E-Mail: [ *** ]

Attention: Daniel Daines

	
	If to Recipient:
	 Aterian, Inc.

37 East 18th St., 7th Floor

New York, NY 10003
 E-Mail: [ *** ]
 Attention: Christopher Porcelli, Associate General Counsel

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

1117 S California Ave,

Palo Alto, CA 94304
 E-Mail: [ *** ]
 Attention: Jeff Hartlin

 Section 13.03 Severability. If any term or provision of this Agreement is held invalid, illegal or
unenforceable in any respect under any applicable Law, the validity, legality and enforceability of all other terms and provisions of this Agreement will not in any way be affected or impaired. Upon such determination that any term or other
provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a mutually acceptable manner in order that
the transactions contemplated by this Agreement be consummated as originally contemplated to the greatest extent possible. 

Section 13.04 Entire Agreement. All references in this Agreement shall include all Exhibits and Schedules hereto. This Agreement
the Purchase Agreement, and the Ancillary Agreements constitute the entire agreement of the Parties relating to the subject matter hereof and thereof and supersede all prior agreements or understandings between the Parties with respect to such
subject matter. The Parties each acknowledge and agree that neither it nor any of its Affiliates or Representatives are making, and neither Party nor any of its Affiliates is relying upon, any representations, warranties or other statements by the
other Party or any of its Affiliates or representatives except to the extent set forth in this Agreement. 
 Section 13.05
Amendments; Waiver. This Agreement may be amended, modified or waived only by the written agreement of the Parties. Unless otherwise specifically provided herein, no failure or delay of any Party to exercise any right or remedy given
to such Party under this Agreement or otherwise available to such Party or to insist upon strict compliance by any other Party with its obligations hereunder and no single or partial exercise of any such right or power shall constitute a waiver of
any Party’s right to demand exact compliance with the terms hereof. Any written waiver shall be limited to those items specifically waived therein and shall not be deemed to waive any future breaches or violations or other non-specified breaches or violations unless, and to the extent, expressly set forth therein. 

  
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 Section 13.06 Assignment; Successors and Assigns. This Agreement will be binding
upon, inure to the benefit of and be enforceable by the Parties and their respective successors and permitted assigns, and will not be assignable or delegable by Service Provider, by operation of Law or otherwise, without the prior written consent
of Recipient and, for the avoidance of doubt, nothing in this Agreement shall or is intended to limit the ability of Recipient to assign its rights or delegate its responsibilities, liabilities and obligations under this Agreement, in whole or in
part, without the consent of Service Provider (a) to any Affiliate of Recipient, (b) in connection with a change of control of Recipient or (c) in the event of a sale of all or substantially all of the assets of Recipient. Any
attempted assignment in violation of this Section 13.06 shall be void ab initio. 
 Section 13.07 Third
Party Beneficiaries. This Agreement shall inure exclusively to the benefit of and be binding upon the Parties and their respective successors, permitted assigns, executors and legal representatives. Nothing in this Agreement, express or implied,
is intended to confer on any Person (other than the Parties or their respective successors and permitted assigns) any rights, remedies, obligations or liabilities under or by reason of this Agreement. 

Section 13.08 Remedies; Specific Performance.  

(a) Except to the extent set forth otherwise in this Agreement, all remedies under this Agreement expressly conferred upon a Party will be
deemed cumulative with and not exclusive of any other remedy conferred hereby, or at Law or in equity upon such Party, and the exercise by a Party of any one remedy will not preclude the exercise of any other remedy. 

(b) The Parties agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed in
accordance with their specific terms or were otherwise breached. Accordingly, each of the Parties shall be entitled to enforce specifically the provisions of this Agreement, including obtaining an injunction or injunctions to prevent breaches or
threatened breaches of this Agreement, in any court designated to resolve disputes concerning this Agreement (or, if such court lacks subject matter jurisdiction, in any appropriate state or federal court), this being in addition to any other remedy
to which such Party is entitled at Law or in equity. Each Party further agrees not to assert and waives (a) any defense in any action for specific performance that a remedy at Law would be adequate and (b) any requirement under any Law to
post security or provide indemnity as a prerequisite to obtaining equitable relief. 
 Section 13.09 Governing Law; Consent to
Jurisdiction; Service of Process; Waiver of Jury Trial. 
 (a) This Agreement shall be construed and enforced in accordance with, and all
questions concerning the construction, validity, interpretation, inducement to enter and/or performance of this Agreement (whether related to breach of contract, tortious conduct or otherwise and whether now existing or hereafter arising) shall be
governed by, the internal Laws of the State of Delaware, without giving effect to any Law that would cause the Laws of any jurisdiction other than the State of Delaware to be applied. 

  
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 (b) Each Party agrees that any Proceeding arising out of or relating to this Agreement or
any transaction contemplated hereby shall be brought exclusively in the United States District Court for the District of Delaware or in the Court of Chancery of the State of Delaware (or, if such court lacks subject matter jurisdiction, in the
Superior Court of the State of Delaware) and each of the Parties hereby submits to the exclusive jurisdiction of such courts for itself and with respect to its property, generally and unconditionally, for the purpose of any such Proceeding. A final
judgment in any such Proceeding may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by Law. Each Party agrees not to commence any Proceeding arising out of or relating to this Agreement or the transactions
contemplated hereby except in the courts described above (other than actions in any court of competent jurisdiction to enforce any judgment, decree or award rendered by any such court in Delaware as described above), irrevocably and unconditionally
waives any objection to the laying of venue of any Proceeding arising out of or relating to this Agreement or the transactions contemplated hereby in any such court, and hereby irrevocably and unconditionally waives and agrees not to plead or Claim
in any such court that any such Proceeding brought in any such court has been brought in an inconvenient forum or does not have jurisdiction over any Party. Each Party agrees that service of any process, summons, notice or document by
U.S. registered mail to such Party’s respective address set forth herein shall be effective service of process for any such Proceeding. 

(c) EACH PARTY HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT, STATUTE
OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREBY OR THE ACTIONS OF SUCH PARTY IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE AND ENFORCEMENT HEREOF. EACH PARTY FURTHER WAIVES ANY RIGHT TO SEEK TO
CONSOLIDATE ANY PROCEEDING IN WHICH A JURY TRIAL HAS BEEN WAIVED WITH ANY OTHER PROCEEDING IN WHICH A JURY TRIAL CANNOT OR HAS NOT BEEN WAIVED. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER
PARTY HAS REPRESENTED OR WARRANTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (II) EACH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER,
(III) EACH PARTY MAKES THIS WAIVER VOLUNTARILY AND (IV) EACH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 13.09. 

Section 13.10 Force Majeure. Any failure by Service Provider to perform any obligations under this Agreement, if caused by or
resulting from, in whole or in part, fire, flood, embargo, government regulation or administrative action, war, acts of war (whether war be declared or not), insurrection, riot, civil unrest, strike, lockout, terrorist act, act of God, or any other
cause beyond Service Provider’s reasonable control, shall not constitute a breach of any provision of this Agreement. 

Section 13.11 Counterparts; Deliveries. This Agreement may be executed in multiple counterparts, each of which shall be deemed to
be an original but all of which shall constitute one and the same agreement. This Agreement may be executed by facsimile or electronic (.pdf) signature and a facsimile or electronic (.pdf) signature shall constitute an original for all purposes.

  
 13 

 Section 13.12 Further Acts; Cooperation. Each Party agrees that, upon
reasonable request of the other Party from time to time, it shall execute and deliver, or cause to be executed and delivered, such further instruments and take such other actions as may be necessary or desirable to carry out the transactions
contemplated by this Agreement. 
 [The remainder of this page is intentionally left blank.] 

  
 14 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed as of the
Effective Date. 
  

			
	SERVICE PROVIDER:
	
	SQUATTY POTTY, LLC
		
	By:	 	 /s/ Bernie Kropfelder

	Name: Bernie Kropfelder
	Title: Chief Executive Officer
	
	RECIPIENT:
	
	TRUWEO, LLC
		
	By:	 	 /s/ Yaniv Sarig

	Name: Yaniv Sarig
	Title: President and Chief Executive Officer

 (Signature Page to Transition Services Agreement)EX-10.6

 Exhibit 10.6 

SHAREHOLDER AGREEMENT 

THIS SHAREHOLDER AGREEMENT (as amended, restated, supplemented or otherwise modified in
accordance with Section 10.3, this “Agreement”) is made and entered into as of May 5, 2021 by and between Aterian, Inc., a Delaware corporation (the “Company”), and Josef Eitan
(the “Stockholder”). 
 RECITALS 

WHEREAS, pursuant to that certain Stock Purchase Agreement, dated as of even date herewith (the
“Purchase Agreement”), by and among the Company, Truweo, LLC, a Delaware limited liability company and wholly owned subsidiary of the Company (“Acquisition Sub”), the Stockholder, Ran Nir and Photo Paper Direct Ltd,
a private limited company organized under the laws of England and Wales (“PPD”), the Company issued 528,411 shares of its common stock, $0.0001 par value per share (the “Common Stock”), to the Stockholder at the
closing of Acquisition Sub’s acquisition of 100% of the outstanding equity of PPD (such shares of Common Stock, the “Closing Securities”), for the benefit of the Stockholder thereunder; 

WHEREAS, the Company has agreed, subject to the terms and conditions of the Purchase Agreement, to issue
and deliver to the Stockholder additional shares of Common Stock as further consideration in the event that PPD achieves certain results of operations set forth in the Purchase Agreement during the 2021 calendar year (any such shares of Common
Stock, the “Earn-Out Securities,” and together with the Closing Securities, the “Securities”); 

WHEREAS, as a condition to entering into the Purchase Agreement, the Company has required that the
Stockholder enter into this Agreement, and the Stockholder, in order to induce the Company to enter into the Purchase Agreement, desires to enter into this Agreement. 

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

AGREEMENT 
 1.
DEFINITIONS. 
 1.1 Defined Terms. As used in this Agreement, the following terms shall
have the following meanings: 
 (a) “Affiliate” and “Associate” shall have the respective
meanings ascribed to such terms in Rule 12b-2 of the General Rules and Regulations under the Exchange Act. 

(b) A Person shall be deemed the “Beneficial Owner” or to have “Beneficial Ownership” of
and shall be deemed to “beneficially own” any securities which such Person or any of such Person’s Affiliates or Associates is deemed to beneficially own, within the meaning of Rules 13d-3 and 13d-5 of the General Rules and Regulations under the Exchange Act. 
 Notwithstanding anything in this definition of
Beneficial Ownership to the contrary, the phrase, “then outstanding,” when used with reference to a Person’s Beneficial Ownership of securities of the Company, shall mean the number of such securities then issued and outstanding
together with the number of such securities not then actually issued and outstanding which such Person would be deemed the Beneficial Owner hereunder. 

  
 1. 

 (c) “Company Acquisition Transaction” shall mean (i) the
commencement (within the meaning of Rule 14d-2 of the General Rules and Regulations under the Exchange Act) of a tender or exchange offer by a third party for at least fifteen percent (15%) of the then
outstanding capital stock of the Company or any direct or indirect Subsidiary of the Company, (ii) the commencement by a third party of a proxy contest with respect to the election of any directors of the Company, (iii) any sale, license,
lease, exchange, transfer, disposition or acquisition of any portion of the business or assets of the Company or any direct or indirect Subsidiary of the Company (other than in the ordinary course of business), or (iv) any merger,
consolidation, business combination, share exchange, reorganization, recapitalization, restructuring, liquidation, dissolution or similar transaction or series of related transactions involving the Company or any direct or indirect Subsidiary of the
Company. 
 (d) “Group” shall have the meaning set forth in Section 13(d)(3) of the Exchange Act and Rule 13d-5 of the General Rules and Regulations under the Exchange Act. 
 (e) “Subject
Securities” means the Securities, including any equity securities issued or issuable directly or indirectly with respect to such Securities by way of any stock dividend or stock split or in connection with a combination of shares,
recapitalization, reclassification, merger, amalgamation, arrangement, consolidation or other reorganization. 
 (f)
“Subsidiary” of any Person shall mean any corporation or other entity of which a majority of the voting power of the voting equity securities or equity interest is owned, directly or indirectly, by such Person. 

(g) “Voting Securities” shall mean the shares of Common Stock; provided, however, that,
“Voting Securities,” when used in this Agreement in connection with a specific reference to any Person other than the Company, shall mean the capital stock (or equity interest) with the greatest voting power of such other Person or, if
such other Person is a Subsidiary of another Person, the Person or Persons which ultimately control such first-mentioned Person. 

1.2 Capitalized Terms. All other capitalized terms used herein but not defined shall have the meanings ascribed to such terms in
the Purchase Agreement. 
 2. MATERIAL NON-PUBLIC
INFORMATION; REPORTING OBLIGATIONS. 
 2.1 Stockholder acknowledges that it is aware,
and will advise each of its representatives who are informed as to the matters that are the subject of the Purchase Agreement and this Agreement, that the United States securities laws may prohibit any person who has received from an issuer
material, non-public information from purchasing or selling securities of such issuer or from communicating such information to any other person under circumstances in which it is reasonably foreseeable that
such person is likely to purchase or sell such securities. 
 2.2 To the extent that Stockholder is required to do so by applicable
law as result of the transactions contemplated by the Purchase Agreement, Stockholder acknowledges and agrees that it shall: (a) be solely responsible for the filing of (i) any Forms 3, 4 and 5 in accordance with Section 16(a) of the
Exchange Act and the rules promulgated thereunder and (ii) any Schedule 13D or 13G, as applicable, under the Exchange Act and the rules promulgated thereunder, in each case, in respect of its ownership of a registered class of securities of the
Company, and (b) timely file such forms and schedules or amendments thereto with the SEC and any stock exchange or similar authority, as required. 

  
 2 

 3. STANDSTILL. 

3.1 Standstill Provisions. Commencing on the date of this Agreement and until the date that is the fifth (5th) anniversary of the date of this Agreement (the “Standstill Period”), the Stockholder agrees, on behalf of itself and its Affiliates and Associates, that for so long as such Persons
collectively Beneficially Own any Voting Securities, except pursuant to a negotiated transaction with the Stockholder approved by the board of directors of the Company (the “Board”), the Stockholder will not (and will cause its
Affiliates and Associates not to), in any manner, directly or indirectly: 
 (a) make, effect, initiate, cause or participate in
(i) any acquisition of Beneficial Ownership of any securities of the Company (other than as a result of the Company’s issuance of Earn-Out Securities to the Stockholder) or any securities of any
Subsidiary or other Affiliate or Associate of the Company if such acquisition would result in the Stockholder and its Affiliates and Associates collectively Beneficially Owning ten percent (10%) or more of the then outstanding Voting Securities,
(ii) any Company Acquisition Transaction, (iii) any “solicitation” of “proxies” (as those terms are defined in Rule 14a-1 of the General Rules and Regulations under the Exchange
Act) or consents with respect to any securities of the Company or (iv) frustrate or seek to frustrate any Company Acquisition Transaction proposed or endorsed by the Company; 

(b) recommend, nominate or seek to nominate any Person to the Board or otherwise act, alone or in concert with others, to seek to
control or influence the management, the Board or policies or governance of the Company; 
 (c) take any action which might force the
Company to make a public announcement regarding any of the types of matters set forth in subsection (a) of this Section 3.1; 

(d) request or propose that the Company (or its directors, officers, employees or agents), directly or indirectly, amend or waive any
provision of this Section 3.1, including this subsection (d); 
 (e) demand an inspection of the
Company’s books and records whether pursuant to Section 220 of the General Corporation Law of the State of Delaware or otherwise; 

(f) institute, solicit, assist or join any litigation, arbitration or other proceeding against or involving the Company or any of its
current or former directors or officers (including derivative actions) other than to enforce the provisions of this Agreement or any rights available to the Stockholder under the Purchase Agreement and the Transaction Documents; 

(g) agree or offer to take, or encourage or propose (publicly or otherwise) the taking of, any action referred to in subsections (a),
(b), (c), (d), (e) or (f) of this Section 3.1; 
 (h) assist, induce or encourage any other Person to
take any action referred to in subsections (a), (b), (c), (d), (e) or (f) of this Section 3.1; 
 (i)
enter into any discussions, negotiations, agreements, understandings or arrangements with any third party with respect to the taking of any action referred to in subsections (a), (b), (c), (d), (e) or (f) of this
Section 3.1; or 
 (j) take any action challenging the validity or enforceability of this
Section 3.1 of this Agreement unless the Company is challenging the validity or enforceability of this Agreement. 

  
 3 

 3.2 Termination of Standstill Provisions 

(a) Subject to Section 3.2(b), the provisions of Section 3.1 shall terminate and be
of no further force and effect in the event the Board shall have endorsed, approved, recommended, or resolved to endorse, approve or recommend a Company Acquisition Transaction. 

(b) All of the provisions of Section 3.1 shall be reinstated and shall apply in full force according to their
terms in the event that: (i) if the provisions of Section 3.1 shall have terminated as the result of a tender offer, and such tender offer (as originally made or as amended or modified) shall have terminated (without
closing) prior to the commencement of a tender offer by the Stockholder or any of its Affiliates or Associates that would have been permitted to be made pursuant to Section 3.2(a) as a result of such third-party tender
offer; (ii) any tender offer by the Stockholder or any of its Affiliates or Associates (as originally made or as extended or modified) that was permitted to be made pursuant to Section 3.2(a) shall have terminated
(without closing); or (iii) if the provisions of Section 3.1 shall have terminated as a result of any action by the Board referred to in Section 3.2(a), and the Board shall have determined not
to take any of such actions (and no such transaction considered by the Board shall have closed) prior to the commencement of a tender offer by the Stockholder that would have been permitted to be made pursuant to
Section 4.2(a) as a result of the initial determination of the Board referred to in Section 3.2(a). 

(c) Upon reinstatement of the provisions of Section 3.1, the provisions of this
Section 3.2 shall continue to govern for the remainder of the Standstill Period in the event that any of the events described in Section 3.2(a) shall occur. Upon the closing of any tender offer for
or acquisition of any securities of the Company or rights or options to acquire any such securities by the Stockholder or any of its Affiliates or Associates that would have been prohibited by the provisions of Section 3.1
but for the provisions of this Section 3.2, all provisions of Section 3.1 and Section 3.2 shall terminate. 

3.3 Sales of Shares of Common Stock. During the Standstill Period, the Stockholder will only sell shares of Common Stock in open
market transactions on The Nasdaq Stock Market, LLC or on such principal stock exchange as the Common Stock is then listed for trading or in private transactions so long as any sale in a private transaction is not to any Person or Group who the
Stockholder reasonably believes after due inquiry Beneficially Owns or as a result of such transaction would Beneficially Own more than five percent (5%) of the then outstanding Voting Securities. Upon sale by the Stockholder of any Common Stock
after the Standstill Period to any Person or Group that is not an Affiliate or Associate of the Stockholder, such Common Stock shall no longer be subject to the restrictions or provisions of this Agreement. 

4. REGISTRATION RIGHTS. 

4.1 Shelf Take-Down. The Company undertakes to use commercially reasonable efforts to register the Subject Securities as soon as
practicable following their issuance either through a Shelf Registration Statement or through a Piggy Back Registration Statement (each as defined below). After a Shelf Registration Statement becomes effective, if applicable, the Company shall
promptly notify the Stockholder after which the Stockholder may deliver a notice to the Company stating that the Stockholder intends to register all of the then outstanding Subject Securities on the Shelf Registration Statement (a “Shelf
Offering” and such notice, the “Shelf Take-Down Notice”). Upon receipt of the Shelf Take-Down Notice, the Company shall, subject to the other
applicable provisions of this Agreement, amend or supplement the applicable Shelf Registration Statement as may be necessary to enable the Subject Securities included in the Shelf Take-Down Notice to be sold and distributed pursuant to the Shelf
Offering; provided, however, that the Company will include in the Shelf Offering only such number of Subject Securities that can be sold without resulting in an Adverse Disclosure (as defined below). For the purposes of this
Section 4: (a) “Shelf Registration Statement” means a registration statement of the Company filed with the SEC on Form S-1 or
Form S-3 for an offering to be made on a continuous basis pursuant to Rule 415 under the 

  
 4 

 
Securities Act of 1933, as amended (the “Securities Act”), or any similar rule that may be adopted by the SEC, covering the Common Stock; and (b) “Adverse
Disclosure” means public disclosure of material non-public information that, in the good faith judgment of the Company (after consultation with legal counsel) (i) would be required to be made in
any registration statement filed with the SEC by the Company so that such registration statement would not be materially misleading and (ii) would not be required to be made at such time but for the filing, effectiveness or continued use of
such registration statement. 
 4.2 Piggyback Registration. 

(a) If the Company proposes to file a registration statement under the Securities Act with respect to an offering of Common Stock or
securities convertible into, or exchangeable or exercisable for, Common Stock, whether or not for sale for its own account (including a Shelf Registration Statement, but other than a registration statement (i) on Form S-4, Form S-8 or any successor forms thereto or (ii) filed to effectuate an exchange offer or any employee benefit or dividend reinvestment plan), in a manner that would
permit registration of the Subject Securities for sale for cash to the public under the Securities Act, then the Company shall give prompt written notice of such filing, which notice shall be given to the Stockholder no later than ten
(10) business days prior to the filing date (the “Piggyback Notice”). The Piggyback Notice shall offer the Stockholder the opportunity to include (or cause to be included) in such registration statement the number of shares of
Subject Securities as the Stockholder may request (each, a “Piggyback Registration Statement”). Subject to Section 4.2(b), the Company shall include in each Piggyback Registration Statement all Subject
Securities with respect to which the Company has received written requests for inclusion therein (each, a “Piggyback Request”) within five (5) business days after the date of the Piggyback Notice. The Company shall not be
required to maintain the effectiveness of a Piggyback Registration Statement beyond the earlier of (x) 120 days after the effective date thereof and (y) consummation of the distribution by the holders of the Subject Securities included in such
registration statement. The Company may withdraw a Piggyback Registration Statement at any time prior to any sales being made pursuant to the Piggyback Registration Statement without incurring any liability to the Stockholder. 

(b) If any of Subject Securities to be registered pursuant to the registration giving rise to the rights under this
Section 4.2 are to be sold in a registered offering in which securities of the Company are sold to one or more underwriters on a firm commitment basis for reoffering to the public (an “Underwritten
Offering”), the Company shall use commercially reasonable efforts to cause the managing underwriter or underwriters of a proposed Underwritten Offering to permit the Stockholder to include in such offering all Subject Securities included in
the Stockholder’s Piggyback Request on the same terms and subject to the same conditions as any other shares of capital stock, if any, of the Company included in the Underwritten Offering; provided that the Stockholder timely submits a
Piggyback request in connection with such offering. Notwithstanding the foregoing, if the managing underwriter or underwriters of such offering advise the Company in writing that in its or their good faith opinion the number of securities to be
registered exceeds the number of securities which can be sold in such offering in light of market conditions or will adversely affect the success of such offering, the Company will include in such Underwritten Offering only such number of securities
that can be sold without adversely affecting the marketability of the offering, which securities will be so included in the following order of priority: (i) first, the securities proposed to be sold by the Company for its own account and
(ii) second, the Subject Securities of the Stockholder and any other persons with piggyback registration rights who have the right to participate and that have requested to participate in such offering, allocated pro rata among
the selling shareholders according to the total amount of securities entitled to be included therein owned by each selling shareholder and its Affiliates (other than the Company) or in such other proportions as shall mutually be agreed to by such
selling shareholders. 

  
 5 

 (c) As to any particular Subject Securities, once issued, such securities shall cease
to be subject to this Section 4.2 when (i) such securities are sold or otherwise transferred pursuant to an effective registration statement under the Securities Act, (ii) such securities shall have ceased to be
outstanding, (iii) such securities have been transferred in a transaction in which the Stockholder’s rights under this Agreement are not assigned in accordance with the terms of this Agreement to the transferee of the securities,
(iv) such securities are sold in a broker’s transaction under circumstances in which all of the applicable conditions of Rule 144 promulgated under the Securities Act (or any similar provisions then in force) are met, or (v) as to any
Subject Securities that are Common Stock of the Stockholder, at any time the Stockholder and its affiliates own less than 1% of the outstanding shares of Common Stock. 

4.3 Suspension. The Company shall be entitled, by providing written notice to the Stockholder, no more than two (2) times in
any twelve (12) month period for a period of time not to exceed 90 days in the aggregate, to postpone the filing or effectiveness of a registration statement to sell Subject Securities or to require the Stockholder to suspend any offerings or
sales of Subject Securities pursuant to a registration statement in accordance with this Section 4 if the Company delivers to the Stockholder a certificate signed by an executive officer certifying that such registration
and offering would (a) require the Company to make an Adverse Disclosure or (b) materially interfere with any bona fide material financing, acquisition, disposition or other similar transaction involving the Company or any of its
Subsidiaries then under consideration. Such certificate shall contain a statement of the reasons for such suspension and an approximation of the anticipated length of such suspension, in accordance with the specifications set forth in this
Section 4.3. The Stockholder shall keep the information contained in such certificate confidential. 
 4.4
Expenses of Registration. All Registration Expenses (as defined below) incurred in connection with any registration pursuant to this Section 4 shall be borne by the Company. All (a) underwriting discounts,
selling commissions and stock transfer taxes applicable to the securities registered by the Stockholder, or (b) the fees and expenses of an auditor of the Stockholder or any counsel to the Stockholder incurred in connection with the sale of
Subject Securities by the Stockholder shall be borne by the Stockholder on a pro rata basis with any other holders included in such registration. “Registration Expenses” means all expenses incurred by the Company in complying
with this Section 4, including all registration, qualification, listing and filing fees, printing expenses, escrow fees, and fees and disbursements of counsel for the Company, fees and disbursements of the Company’s
independent public accountants, fees and disbursements of the transfer agent, blue sky fees and expenses. 
 4.5 Cooperation by the
Stockholder. If the Stockholder elects to register Subject Securities in accordance with Section 4.1 or Section 4.2, the Stockholder shall furnish to the Company the number of shares of Common
Stock owned by the Stockholder, the number of such Subject Securities proposed to be sold, as applicable, the name and address of the Stockholder, and the distribution proposed by the Stockholder as shall be required in connection with any
registration, qualification or compliance referred to in this Agreement. It is understood and agreed that the obligations of the Company under this Section 4 are conditioned on the timely provisions of the foregoing
information by the Stockholder and, without limitation of the foregoing, will be conditioned on compliance by the Stockholder with the following: (a) the Stockholder will cooperate with the Company in connection with the preparation of the
applicable registration statement and prospectus and, for so long as the Company is obligated to keep such registration statement effective, the Stockholder will provide to the Company, in writing and in a timely manner, for use in such registration
statement (and expressly identified in writing as such), all information regarding themselves and such other information as may be required by applicable law to enable the Company to prepare or amend such registration statement, any related
prospectus and any other documents related to such offering covering the applicable Subject Securities owned by the Stockholder and to maintain the currency and effectiveness thereof; and (b) during such time as the Stockholder may be engaged
in a distribution of Subject Securities, the Stockholder will comply with all laws applicable to such distribution, and will (i) not engage in any stabilization activity in connection with the securities of the Company in contravention of such
laws; (ii) distribute the Subject Securities solely in the manner described in the applicable registration statement and (iii) if required by applicable law, cause to be furnished to each agent or broker-dealer to or through whom such
Subject Securities may be offered, or to the offeree if an offer is made directly by the Stockholder, such copies of the applicable prospectus (as amended and supplemented to such date) and documents incorporated by reference therein as may be
required by such agent, broker-dealer or offeree. 

  
 6 

 5. VOTING OF STOCKHOLDER SHARES. 

5.1 Shares Held Subject to Agreement. Until the Termination Date, for so long as the Stockholder and its Affiliates and
Associates collectively Beneficially Own any Common Stock or any other Voting Securities, the Stockholder agrees to hold all such Common Stock or other Voting Securities registered in such Stockholder’s name or Beneficially Owned by such
Stockholder as of the date hereof and any and all other voting securities of the Company legally or beneficially acquired by them after the date hereof, including any Earn-Out Securities (hereinafter
collectively referred to as the “Stockholder Shares”) subject to, and to vote the Stockholder Shares in accordance with, the provisions of this Agreement. 

5.2 Vote Required. At all times prior to the Termination Date, the Stockholder shall timely vote in person or by proxy at each
annual or special meeting of the Company’s stockholders (or shall consent to vote pursuant to an action by written consent of the holders of capital stock of the Company, as and if permitted by the Company’s bylaws) all such Stockholder
Shares in accordance with the recommendations of the Board on each matter presented to the Company’s stockholders at such meeting or consent solicitation as set forth in the applicable definitive proxy statement, including without limitation
the election, removal and/or replacement of directors. 
 5.3 Irrevocable Proxy. The Stockholder hereby constitutes and
appoints the Company with full power of substitution, as the proxy of such stockholder with respect to all matters in accordance with Section 5, and hereby authorizes the Company to represent and to vote, if and only if
such stockholder: (a) fails to vote; or (b) attempts to vote (whether by proxy, in person or by written consent), in a manner which is inconsistent with the terms of this Agreement, all of the Stockholder Shares in accordance with the
recommendation of the Board on each matter presented to the Company’s stockholders at any annual or special meeting of the Company’s stockholders or consent solicitation, in each case, as required pursuant to the terms and provisions of
this Agreement. The proxy granted pursuant to the immediately preceding sentence is coupled with an interest and shall be irrevocable unless and until this Agreement terminates pursuant to Section 9 hereof. The Stockholder
hereby revokes any and all previous proxies with respect to the Stockholder Shares and shall not hereafter, unless and until this Agreement terminates pursuant to Section 9 hereof, purport to grant any other proxy or power
of attorney with respect to any of the Stockholder Shares, deposit any of such Stockholder Shares into a voting trust or enter into any agreement (other than this Agreement), arrangement or understanding with any Person, directly or indirectly, to
vote, grant any proxy or give instructions with respect to the voting of any of such Stockholder Shares, in each case, with respect to any matter presented to the Company’s stockholders for approval at any annual or special meeting of the
Company’s stockholders or written consent. 
 6. REPRESENTATIONS AND WARRANTIES. 

6.1 Each party hereto represents and warrants to the other as follows: 

(a) Authorization. Such party has the requisite power, authority and legal capacity to execute, deliver and perform and to
consummate the transactions contemplated by this Agreement. This Agreement constitutes a legal, valid and binding obligation of such party, enforceable against such party in accordance with its terms, except as such enforcement may be limited by any
applicable bankruptcy, insolvency, moratorium or similar law affecting creditors’ rights generally. 

  
 7 

 (b) No Consents. No consent of any Governmental Authority or other Person is
required to be obtained by such party in connection with the execution and delivery by such party of this Agreement. 
 6.2 The
Stockholder represents and warrants to the Company that as of the date hereof, the Stockholder and its Affiliates and Associates collectively Beneficially Own 528,411 shares of Common Stock and have no other interest in the capital stock of the
Company other than the right to receive the Earn-Out Securities subject to the terms and conditions of the Purchase Agreement. 

6.3 The Stockholder understands and acknowledges that the Company is entering into the Purchase Agreement in reliance upon the
Stockholder’s execution, delivery and performance of this Agreement. 
  

	7.	 LEGEND. 

7.1 Concurrently with the execution of this Agreement, and in addition to any other legends provided for in the Purchase Agreement,
there shall be imprinted or otherwise placed on the book-entry statements representing the Stockholder Shares the following restrictive legend (the “Legend”): 

“THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE TERMS AND CONDITIONS OF A SHAREHOLDER AGREEMENT WHICH PLACES CERTAIN
RESTRICTIONS ON THE TRANSFER AND VOTING OF THE SHARES REPRESENTED HEREBY. ANY PERSON ACCEPTING ANY INTEREST IN SUCH SHARES SHALL BE DEEMED TO AGREE TO AND SHALL BECOME BOUND BY ALL THE PROVISIONS OF SUCH AGREEMENT. A COPY OF SUCH SHAREHOLDER
AGREEMENT WILL BE FURNISHED TO THE RECORD HOLDER OF THIS CERTIFICATE WITHOUT CHARGE UPON WRITTEN REQUEST TO THE COMPANY AT ITS PRINCIPAL PLACE OF BUSINESS.” 

7.2 Subject to a sale to a third party pursuant to Section 3.3, above, the Stockholder agrees that, during the
term of this Agreement, it will not remove, and will not permit to be removed (upon registration of transfer, reissuance of otherwise), the Legend from any such book-entry statements and will place or cause to be placed the Legend on any new
book-entry statements issued to represent Stockholder Shares theretofore represented by a book-entry statements carrying the Legend. The Stockholder will not request that any of the Stockholder Shares be converted from book-entry format to
certificated shares. 
 8. SUCCESSORS. During the Standstill Period, the provisions of this
Agreement shall be binding upon the successors in interest to any of the Stockholder Shares. During the Standstill Period, the Company shall not permit the transfer of any of the Stockholder Shares on its books or issue a new certificate
representing any of the Stockholder Shares unless and until the successors in interest to whom such security is to be transferred shall have executed a written agreement, substantially in the form of this Agreement, pursuant to which such successors
in interest becomes a party to this Agreement and agrees to be bound by all the provisions hereof as if such Person were a Stockholder hereunder. A purchaser in an open market transaction shall not be deemed a successor in interest. 

9. TERMINATION. This Agreement shall continue in full force and effect from the date hereof
through the earliest of the following dates, on which date (the “Termination Date”) it shall terminate in its entirety on the earlier of: (a) the date that is the fifth (5th) anniversary of the date of this Agreement and (b) the date of the closing of a sale, lease, or other disposition of all or substantially all of the Company’s assets or the Company’s
merger into or consolidation with any other corporation or other entity, or any other corporate reorganization, in which the holders of the Company’s outstanding voting stock immediately prior to such

  
 8 

 
transaction own, immediately after such transaction, securities representing less than 50% of the voting power of the corporation or other entity surviving such transaction; provided,
however, that this clause “(b)” shall not apply to a merger effected exclusively for the purpose of changing the domicile of the Company; and (c) the date as of which this Agreement is terminated by the written consent
of the Company and the Stockholder. 
 10. MISCELLANEOUS. 

10.1 Specific Performance. The parties hereto agree that irreparable damage would occur in the event that any of the provisions
of this Agreement were not performed in accordance with their specific terms or were otherwise breached. Accordingly, each of the parties hereto shall be entitled to enforce specifically the provisions of this Agreement, including obtaining an
injunction or injunctions to prevent breaches or threatened breaches of this Agreement, in any court designated to resolve disputes concerning this Agreement (or, if such court lacks subject matter jurisdiction, in any appropriate state or federal
court), this being in addition to any other remedy to which such party is entitled at law or in equity. Each party hereto further agrees not to assert and waives (a) any defense in any action for specific performance that a remedy at law would
be adequate and (b) any requirement under any law to post security or provide indemnity as a prerequisite to obtaining equitable relief. 

10.2 Expenses. If any action at law or in equity is necessary to enforce or interpret the terms of this Agreement, the prevailing
party hereto shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled.  

10.3 Amendment and Waiver. Any provision of this Agreement may be amended and the observance thereof may be waived (either
generally or in a particular instance and either retroactively or prospectively) only with the written consent of the Company and the Stockholder. No failure or delay of any party hereto to exercise any right or remedy given to such party under this
Agreement or otherwise available to such party or to insist upon strict compliance by any other party with its obligations hereunder and no single or partial exercise of any such right or power shall constitute a waiver of any party hereto’s
right to demand exact compliance with the terms hereof. Any written waiver shall be limited to those items specifically waived therein and shall not be deemed to waive any future breaches or violations or other
non-specified breaches or violations unless, and to the extent, expressly set forth therein. 

10.4 Notices. All notices and other communications made pursuant to or under this Agreement shall be given pursuant to the terms
of the notice provisions in Section 9.01 of the Purchase Agreement. 
 10.5 Severability. If any term
or provision of this Agreement is held invalid, illegal or unenforceable in any respect under any applicable law, the validity, legality and enforceability of all other terms and provisions of this Agreement will not in any way be affected or
impaired. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely
as possible in a mutually acceptable manner in order that the transactions contemplated by this Agreement be consummated as originally contemplated to the greatest extent possible. 

10.6 Governing Law. This Agreement shall be construed and enforced in accordance with, and all questions concerning the
construction, validity, interpretation, inducement to enter and/or performance of this Agreement (whether related to breach of contract, tortious conduct or otherwise and whether now existing or hereafter arising) shall be governed by, the internal
laws of the State of Delaware, without giving effect to any law that would cause the laws of any jurisdiction other than the State of Delaware to be applied. 

  
 9 

 10.7 Consent to Jurisdiction; Service of Process; Waiver of Jury Trial. 

(a) Each Party agrees that any proceeding arising out of or relating to this Agreement or any transaction contemplated hereby shall be
brought exclusively in any state or federal court located in New York County, State of New York, and each of the Parties hereby submits to the exclusive jurisdiction of such courts for itself and with respect to its property, generally and
unconditionally, for the purpose of any such proceeding. A final judgment in any such proceeding may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Each Party agrees not to commence any proceeding
arising out of or relating to this Agreement or the transactions contemplated hereby except in the courts described above (other than actions in any court of competent jurisdiction to enforce any judgment, decree or award rendered by any such court
in New York as described above), irrevocably and unconditionally waives any objection to the laying of venue of any proceeding arising out of or relating to this Agreement or the transactions contemplated hereby in any such court, and hereby
irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such proceeding brought in any such court has been brought in an inconvenient forum or does not have jurisdiction over any Party. Each Party agrees
that service of any process, summons, notice or document by U.S. registered mail to such Party’s respective address set forth in the Purchase Agreement shall be effective service of process for any such proceeding. 

(b) EACH PARTY HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT,
STATUTE OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE ACTIONS OF SUCH PARTY IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE AND ENFORCEMENT HEREOF. EACH PARTY FURTHER WAIVES ANY RIGHT TO SEEK TO CONSOLIDATE ANY PROCEEDING IN
WHICH A JURY TRIAL HAS BEEN WAIVED WITH ANY OTHER PROCEEDING IN WHICH A JURY TRIAL CANNOT OR HAS NOT BEEN WAIVED. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED OR
WARRANTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (II) EACH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (III) EACH PARTY MAKES
THIS WAIVER VOLUNTARILY AND (IV) EACH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 10.7. 

10.8 Entire Agreement. Except for the Purchase Agreement, this Agreement sets forth the entire understanding and agreement
between the parties hereto with respect to the subject matter hereof. 
 10.9 Counterparts. This Agreement may be executed in
multiple counterparts, each of which shall be deemed to be an original but all of which shall constitute one and the same agreement. This Agreement may be executed by facsimile or electronic (.pdf) signature and a facsimile or electronic (.pdf)
signature shall constitute an original for all purposes. 
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 10 

 IN WITNESS WHEREOF, the
parties hereto have executed this SHAREHOLDER AGREEMENT as of the date first written above. 
  

			
	COMPANY:	  	STOCKHOLDER:
		
	ATERIAN, INC.	  	JOSEF EITAN
		
	 /s/ Yaniv Sarig
	  	 /s/ Josef Eitan

	Yaniv Sarig	  	
	CEO	  	

 (Signature Page to Shareholder Agreement)

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