Document:

Exhibit 10.11
 

TAX
RECEIVABLES AGREEMENT

 

This
TAX RECEIVABLES AGREEMENT (this “Agreement”), dated as of July 20, 2021, is hereby entered into by and among
Stryve Foods Holdings, LLC, a Texas limited liability company (“Seller”), Stryve Foods, Inc., a Delaware corporation
and successor in interest Andina Acquisition Corporation III (“Purchaser”) and Andina Holdings LLC, a Delaware limited
liability company (“Holdings”).

 

RECITALS

 

WHEREAS,
Purchaser, Holdings, B. Luke Weil as purchaser representative, Stryve Foods LLC, a Texas limited liability company (the “Company”),
Seller, and R. Alex Hawkins, as seller representative, entered into that certain Business Combination Agreement, dated as of January
28, 2021 (the “Business Contribution Agreement”), pursuant to which, among other things, Seller will contribute
all of its interest in the Company to Holdings (the “Contribution”);

 

WHEREAS,
in connection with the Contribution, Seller will receive Class B Common Units of Holdings and Class V Common Stock of Purchaser
(collectively, the “Units”), which Units will be exchangeable with Purchaser for Class A Common Stock of Purchaser
(such exchange, an “Exchange”) as provided for under the Exchange Agreement;

 

WHEREAS,
Exchanges shall be effected pursuant to the Exchange Agreement in transactions that may result in the recognition of gain or loss
for U.S. Federal Income Tax purposes to Seller (each, a “Taxable Exchange”), as described herein;

 

WHEREAS,
Holdings will have in effect an election under Section 754 of the Internal Revenue Code of 1986, as amended (the “Code”),
for each Taxable Year (as defined below) in which any Taxable Exchange occurs, which election may result in a Basis Adjustment
(as defined herein) to the tangible and intangible assets owned by Holdings and its subsidiaries as of the date of any such Taxable
Exchange;

 

WHEREAS,
the income, gain, loss, expense and other Tax (as defined herein) items of Holdings and its subsidiaries may be affected by the
Basis Adjustment (as defined herein); and

 

WHEREAS,
the parties to this Agreement desire to make certain arrangements with respect to the effect of the Basis Adjustment and the Imputed
Interest on the actual liability for Taxes (as defined herein) of Purchaser.

 

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NOW,
THEREFORE, in consideration of the foregoing and the respective covenants and agreements set forth herein, and intending to be
legally bound hereby, the parties hereto agree as follows:

 

ARTICLE
I

Definitions

 

Definitions.
As used in this Agreement, the terms set forth in this Article I shall have the following meanings (such meanings to be equally
applicable to both the singular and plural forms of the terms defined).

 

“Advisory
Firm” means an accounting or law firm that is nationally recognized as being expert in Tax matters and that is agreed
to by the parties to this Agreement.

 

“Affiliate”
means with respect to a Person, a Person directly or indirectly controlling, controlled by, or under common control with, such
Person.

 

“Agreed
Rate” means the Prime Rate (as defined in the Amended and Restated LLC Agreement of Holdings, dated as of the date hereof).

 

“Agreement”
is defined in the preamble of this Agreement.

 

“Amended
Schedule” is defined in Section 2.04(b) of this Agreement.

 

“Basis
Adjustment” means the adjustment to the tax basis of a Reference Asset under Sections 732, 743(b) and 754 of the Code
and comparable sections of state and local tax laws (as calculated under Section 2.01 of this Agreement) as a result of an Exchange
(including, without limitation, the payments made pursuant to this Agreement). Notwithstanding any other provision of this Agreement,
the amount of any Basis Adjustment resulting from an Exchange of one or more Units shall be determined without regard to any Pre-Exchange
Transfer of such Units and as if any such Pre-Exchange Transfer had not occurred.

 

“Beneficial
Owner” of a security is a Person who directly or indirectly, through any contract, arrangement, understanding, relationship
or otherwise has or shares: (i) voting power, which includes the power to vote, or to direct the voting of, such security and/or
(ii) investment power, which includes the power to dispose, or to direct the disposition of, such security. The terms “Beneficially
Own” and “Beneficial Ownership” shall have correlative meanings.

 

“Business
Day” means any day other than a Saturday, Sunday or a day on which the Federal Reserve Bank sitting in New York, New
York is closed for business, excluding as a result of “stay at home”, “shelter-in-place”, “non-essential
employee” or any other similar orders or restrictions or the closure of any physical branch locations at the direction of
any governmental authority so long as the electronic funds transfer systems, including for wire transfers, of commercially banking
institutions in New York, New York are generally open for use by customers on such day.

 

“Change
of Control” means the occurrence of any of the following events:

 

(i)
any Person or any group of Persons acting together which would constitute a “group” for purposes of Section 13(d)
of the Securities and Exchange Act of 1934, or any successor provisions thereto, excluding Seller or any Person who, on the date
hereof, is a member of Seller, becomes the Beneficial Owner, directly or indirectly, of securities of the Purchaser representing
more than fifty percent (50%) of the combined voting power of the Purchaser’s then outstanding voting securities; or

 

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(ii)
there is consummated a merger or consolidation of the Purchaser or any direct or indirect subsidiary of the Purchaser with any
other corporation or other entity, and, immediately after the consummation of such merger or consolidation, either (x) the board
of directors immediately prior to the merger or consolidation does not constitute at least a majority of the board of directors
of the company surviving the merger or, if the surviving company is a subsidiary, the ultimate parent thereof, or (y) all of the
Persons who were the respective Beneficial Owners of the voting securities of the Purchaser immediately prior to such merger or
consolidation do not Beneficially Own, directly or indirectly, more than 50% of the combined voting power of the then outstanding
voting securities of the Person resulting from such merger or consolidation; or

 

(iii)
the shareholders of the Purchaser approve a plan of complete liquidation or dissolution of the Purchaser, or there is consummated
an agreement or series of related agreements for the sale or other disposition, directly, or indirectly, by the Purchaser or Holdings
of all or substantially all of its assets, other than such sale or other disposition by the Purchaser of all or substantially
all of the Purchaser’s assets to an entity, at least fifty percent (50%) of the combined voting power of the voting securities
of which are owned by shareholders of the Purchaser in substantially the same proportions as their ownership of the Purchaser
immediately prior to such sale.

 

Notwithstanding
the foregoing, except with respect to clause (ii)(x) above, a “Change in Control” shall not be deemed to have occurred
by virtue of the consummation of any transaction or series of integrated transactions immediately following which the Beneficial
Owners of the shares of the Purchaser immediately prior to such transaction or series of transactions continue to have substantially
the same proportionate ownership in an entity which owns all or substantially all of the stock or assets of the Purchaser immediately
following such transaction or series of transactions and the Beneficial Owner has substantially the same rights under this Agreement
and the Exchange Agreement (or equivalent successors to such agreements).

 

“Code”
is defined in the Recitals of this Agreement.

 

“Control”
and its correlatives means the possession, directly or indirectly, of the power to direct or cause the direction of the management
and policies of a Person, whether through the ownership of voting securities or by contract or otherwise.

 

“Determination”
shall have the meaning ascribed to such term in Section 1313(a) of the Code or similar provision of state and local tax law, as
applicable, or any other event (including the execution of a Form 870-AD) that finally and conclusively establishes the amount
of any liability for Tax.

 

“Early
Termination Date” means the date of an Early Termination Notice for purposes of determining the Early Termination Payment.

 

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“Early
Termination Notice” is defined in Section 4.02 of this Agreement.

 

“Early
Termination Schedule” is defined in Section 4.02 of this Agreement.

 

“Early
Termination Payment” is defined in Section 4.03(b) of this Agreement.

 

“Exchange”
means the acquisition of Holdings Class B Units and Purchaser Class V Stock by the Purchaser, pursuant to an Exchange Agreement
from Seller or any other Person party to an Exchange Agreement.

 

“Exchange
Agreement” means that certain Exchange Agreement, dated as of the date hereof, by and among Purchaser, Holdings and
Seller and any successor Exchange Agreement entered into by any member, direct or indirect, of Seller in connection with distribution
to such member of Holdings Class B Units and Purchaser Class V Stock.

“Exchange
Basis Schedule” is defined in Section 2.02 of this Agreement.

 

“Exchange
Date” means the date any Exchange occurs.

 

“Exchange
Payment” is defined in Section 5.01 of this Agreement

 

“Expert”
is defined in Section 7.10 of this Agreement.

 

“Holdings”
is defined in the Preamble of this Agreement.

 

“Holdings
Class B Unit” means a Class B Common Unit of Holdings, as defined in the Amended and Restated LLC Agreement of Holdings
dated as of the date hereof.

 

“Imputed
Interest” shall mean any interest imputed under Sections 1272, 1274 or 483 or other provision of the Code and any similar
provision of state and local tax law with respect to the Purchaser’s payment obligations under this Agreement.

 

“IRS”
means the United States Internal Revenue Service.

 

“Late
Payment Rate” means the Agreed Rate plus 500 basis points.

 

“Non-Stepped
Up Tax Basis” means, with respect to any asset at any time, the tax basis that such asset would have had at such time
if no Basis Adjustment had been made.

 

“Non-Stepped
Up Tax Liability” means, with respect to any Taxable Year, the liability for Taxes of the Purchaser using the same methods,
elections, conventions and similar practices used on the relevant Purchaser Return, but using the Non-Stepped Up Tax Basis instead
of the tax basis of the Reference Assets and excluding any deduction attributable to the Imputed Interest.

 

“Payment
Date” means any date on which a payment is made pursuant to this Agreement.

 

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“Person”
means and includes any individual, firm, corporation, partnership (including, without limitation, any limited, general or limited
liability partnership), company, limited liability company, trust, joint venture, association, joint stock company, unincorporated
organization or similar entity or governmental entity.

 

“Pre-Exchange
Transfer” means any transfer of any Units (including upon death of a Seller) (i) that occurs after the date of the Contribution
but prior to the date of the Exchange of such Units and (ii) to which Section 743(b) of the Code applies.

 

“Purchaser”
is defined in the Preamble of this Agreement.

 

“Purchaser
Class V Stock” means a share of the Class V Common Stock of Purchaser, par value $0.0001 per share.

 

“Purchaser
Letter” shall mean a letter by the Purchaser in connection with the performance of its obligations under this Agreement
stating that the relevant schedule, notice or other information to be provided by the Purchaser to Holdings and all supporting
schedules and work papers were prepared in a manner consistent with the terms of this Agreement and, to the extent not expressly
provided in this Agreement, on a reasonable basis in light of the facts and law in existence on the date such schedule, notice
or other information is delivered to Seller.

 

“Purchaser
Return” means the federal Tax Return and/or state and/or local Tax Return, as applicable, of the Purchaser filed with
respect to Taxes of any Taxable Year.

 

“Realized
Tax Benefit” means, for a Taxable Year, the excess, if any, of the Non-Stepped Up Tax Liability over the actual liability
for Taxes of the Purchaser for such Taxable Year using the “with or without” methodology. For the avoidance of doubt,
the actual liability for Taxes shall reflect the Tax benefit, if any, for the deduction of Imputed Interest. If all or a portion
of the actual tax liability for Taxes for the Taxable Year arises as a result of an audit by a Taxing Authority of any Taxable
Year, such liability shall not be included in determining the Realized Tax Benefit unless and until there has been a Determination.
For this purpose, Taxes of the Purchaser (whether actual liability or Non-Stepped Up Tax Liability) shall include any Taxes of
any member of the applicable consolidated group, combine group or unitary group of any of its Affiliates (excluding Holdings,
the Company or their subsidiaries).

 

“Realized
Tax Detriment” means, for a Taxable Year, the excess, if any, of the actual liability for Taxes of the Purchaser over
the Non-Stepped Up Tax Liability for such Taxable Year using the “with or without” methodology. If all or a portion
of the actual tax liability for Taxes for the Taxable Year arises as a result of an audit by a Taxing Authority of any Taxable
Year, such liability shall not be included in determining the Realized Tax Detriment unless and until there has been a Determination.
For this purpose, Taxes of the Purchaser (whether actual liability or Non-Stepped Up Tax Liability) shall include any Taxes of
any member of the applicable consolidated group, combined group or unitary group of any of its Affiliates (excluding Holdings,
the Company or their subsidiaries).

 

“Reconciliation
Procedures” means those procedures set forth in Section 7.10 of this Agreement.

 

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“Reference
Assets” means (a) all tangible and intangible assets owned (or deemed owned such as through an entity disregarded for
tax purposes) at the time of an Exchange (i) by Holdings or (ii) by entities in which Holdings owns an interest that are treated
as partnerships for U.S. federal income tax purposes and for which an election under Section 754 of the Code is in effect with
respect to such Exchange, and (b) any asset to the extent its tax basis is determined by reference to the adjusted basis of an
asset referred to in clause (a).

 

“Representative”
is defined in Section 7.07(a) of this Agreement.

 

“Representative
Documents” is defined in Section 7.08(a) of this Agreement.

 

“Schedule”
means any of the Exchange Basis Schedule, Tax Benefit Schedule and the Early Termination Schedule.

 

“Seller”
is defined in the preamble to this Agreement. As used in this agreement, Seller shall include any member (direct or indirect)
to whom Seller (or a member of Seller) distributes Holdings Class B Units and Purchaser Class V Shares.

 

“Senior
Obligations” is defined in Section 5.01 of this Agreement.

 

“Tax
Benefit Payment” is defined in Section 3.01(b) of this Agreement.

 

“Tax
Benefit Schedule” is defined in Section 2.03 of this Agreement.

 

“Tax
Return” means any return, declaration, report or similar statement required to be filed with respect to Taxes (including
any attached schedules), including, without limitation, any information return, claim for refund, amended return and declaration
of estimated Tax.

 

“Taxable
Year” means a taxable year as defined in Section 441(b) of the Code or comparable section of state or local tax law,
as applicable, (and, therefore, for the avoidance of doubt, may include a period of less than 12 months for which a Tax Return
is made) ending on or after an Exchange Date in which there is a Basis Adjustment due to an Exchange.

 

“Taxes”
means any and all U.S. federal, state, local and foreign taxes, assessments or similar charges measured with respect to net income
or profits and any interest, additions to Tax or penalties applicable or related to such Tax.

 

“Taxing
Authority” means any domestic, foreign, federal, national, state, county or municipal or other local government, any
subdivision, agency, commission or authority thereof, or any quasi-governmental body exercising any taxing authority or any other
authority exercising Tax regulatory authority.

 

“Treasury
Regulations” means the final, temporary and proposed regulations under the Code promulgated from time to time (including
corresponding provisions and succeeding provisions) as in effect for the relevant taxable period.

 

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“Valuation
Assumptions” means, as of an Early Termination Date, the assumptions that (1) in each Taxable Year ending on or after
such Early Termination Date, the deductions from the Basis Adjustment and the Imputed Interest arising out of previous Exchanges
will continue to be available to the Purchaser without regard to any Change of Control or any dispositions of the Reference Assets
on or after the Early Termination Date, (2) the Purchaser will have taxable income sufficient to fully utilize such deductions
during such Taxable Year (including, for the avoidance of doubt, Basis Adjustments and Imputed Interest that would result from
future Tax Benefit Payments that would be paid in accordance with the Valuation Assumptions), (3) the federal income tax rates
and state and local income tax rates that will be in effect for each such Taxable Year will be those specified for each such Taxable
Year by the Code and other law as in effect on the Early Termination Date, (4) any loss carryovers generated by the Basis Adjustment
or the Imputed Interest and available as of the date of the Early Termination Schedule (including, for the avoidance of doubt,
Basis Adjustments and Imputed Interest that would result from future Tax Benefit Payments that would be paid in accordance with
the Valuation Assumptions) will be utilized by the Purchaser on a pro rata basis from the date of the Early Termination Schedule
through the earlier of (i) the twentieth anniversary of the first Exchange Date or (ii) the schedule expiration date of such carryforward
or carryback, (5) any non-amortizable assets are deemed to be disposed of on the earlier of (i) the fifteenth anniversary of the
Basis Adjustment and (ii) the Early Termination Date, and (6) if, on the Early Termination Date, any Seller has Units that have
not been Exchanged, then such Units shall be deemed to be Exchanged for the fair market value of the shares of Class V Common
Stock and any other cash or consideration (e.g., taking into account the proceeds of any Change in Control, if applicable) that
would be received by such Seller if such Units had been Exchanged on the Early Termination Date, and such Member shall be entitled
to receive the amount of cash such Member would have been entitled to receive under this Agreement had such Units actually been
Exchanged on the Early Termination Date.

 

ARTICLE
II

Determination of Realized Tax Benefit

 

SECTION
2.01. Basis Adjustment. The Purchaser and Holdings agree that, as a result of any Exchange, the Purchaser’s basis
in the applicable Reference Assets shall be increased to the fullest extent permitted by law, determined in a manner consistent
with the treatment specified in Section 3.10 of the Exchange Agreement. For the avoidance of doubt, payments made under this Agreement
shall not be treated as resulting in a Basis Adjustment to the extent such payments are attributable to Imputed Interest.

 

SECTION
2.02. Exchange Basis Schedule. Within 45 calendar days after the filing of the U.S. federal income tax return of the Purchaser
for each Taxable Year in which any Exchange has been effected, the Purchaser shall deliver to Seller a schedule (the “Exchange
Basis Schedule”) that shows, in reasonable detail, for purposes of Taxes, (i) the actual unadjusted tax basis of the
Reference Assets as of each applicable Exchange Date, (ii) the Basis Adjustment with respect to the Reference Assets as a result
of the Exchanges effected in such Taxable Year, calculated in the aggregate, (iii) the period or periods, if any, over which the
Reference Assets are amortizable and/or depreciable and (iv) the period or periods, if any, over which each Basis Adjustment is
amortizable and/or depreciable.

 

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SECTION
2.03. Tax Benefit Schedule. Within 60 calendar days after the filing of the U.S. federal income tax return of the Purchaser
for any Taxable Year in which there is a Realized Tax Benefit or Realized Tax Detriment, the Purchaser shall provide to Seller
a schedule showing, in reasonable detail, the calculation of the Realized Tax Benefit or Realized Tax Detriment for such
Taxable Year (a “Tax Benefit Schedule”). The Tax Benefit Schedule will become final as provided in Section
2.04(a) and may be amended as provided in Section 2.04(b) (subject to the procedures set forth in Section 2.04(b)).

 

SECTION
2.04. Procedures, Amendments

 

(a)
Procedure. Every time the Purchaser delivers to Seller an applicable Schedule under this Agreement (including an Amended
Schedule pursuant to Section 2.04(b) of this Agreement), the Purchaser shall also (x) deliver to Seller schedules and work papers
providing reasonable detail regarding the preparation of the Schedule and an Purchaser Letter supporting such Schedule and (y)
allow Seller reasonable access to the appropriate representatives at the Purchaser and the Advisory Firm in connection with a
review of such Schedule. The applicable Schedule shall become final and binding on all parties unless Seller, within 30 calendar
days after receiving an Exchange Basis Schedule or amendment thereto or 30 calendar days after receiving a Tax Benefit Schedule
or amendment thereto, provides the Purchaser with notice of a material objection to such Schedule made in good faith. If the parties,
negotiating in good faith, are unable to successfully resolve the issues raised in such notice within 30 calendar days, if with
respect to an Exchange Basis Schedule, or 30 calendar days, if with respect to a Tax Benefit Schedule, after such Schedule was
delivered to Seller, the Purchaser and Seller shall employ the Reconciliation Procedures as described in Section 7.10 of this
Agreement.

 

(b)
Amended Schedule. The applicable Schedule for any Taxable Year may be amended from time to time by the Purchaser (i) in
connection with a Determination affecting such Schedule, (ii) to correct material inaccuracies in the Schedule identified as a
result of the receipt of additional factual information relating to a Taxable Year after the date the Schedule was provided to
Seller, (iii) to comply with the Expert’s determination under the Reconciliation Procedures, (iv) to reflect a material
change in the Realized Tax Benefit or Realized Tax Detriment for such Taxable Year attributable to a carryback or carryforward
of a loss or other tax item to such Taxable Year, (v) to reflect a material change in the Realized Tax Benefit or Realized Tax
Detriment for such Taxable Year attributable to an amended Tax Return filed for such Taxable Year, or (vi) to adjust the Exchange
Basis Schedule to take into account payments made pursuant to this Agreement (such schedule, an “Amended Schedule”);
provided, however, that such a change under clause (i) attributable to an audit of a Tax Return by an applicable
Taxing Authority shall not be taken into account on an Amended Schedule unless and until there has been a Determination with respect
to such change.

 

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ARTICLE
III

Tax Benefit Payments

 

SECTION
3.01. Payments

 

(a)
Payments. Within five Business Days of a Tax Benefit Schedule delivered to Seller becoming final, the Purchaser shall pay
to Seller for such Taxable Year the Tax Benefit Payment determined pursuant to Section 3.01(b). Each such Tax Benefit Payment
shall be made by wire transfer of immediately available funds to a bank account of Seller. For the avoidance of doubt, no Tax
Benefit Payment shall be made in respect of estimated tax payments, including, without limitation, federal income tax payments.

 

(b)
A “Tax Benefit Payment” means an amount, not less than zero, equal to 85% of the Purchaser’s Realized
Tax Benefit, if any, for a Taxable Year, increased by, (1) interest calculated at the Agreed Rate from the due date (without
extensions) for filing the Purchaser Return with respect to Taxes for such Taxable Year until the Payment Date (the “Interest
Amount”), and (2) the amount of the excess Realized Tax Benefit reflected on an Amended Tax Benefit Schedule for a previous
Taxable Year over the Realized Tax Benefit (or Realized Tax Detriment (expressed as a negative number)) reflected on the Tax Benefit
Schedule for such previous Taxable Year; and decreased by, (3) an amount equal to the Purchaser’s Realized Tax Detriment
(expressed as a negative number) (if any) for any previous Taxable Year, and (4) the amount of the excess Realized Tax Benefit
reflected on a Tax Benefit Schedule for a previous Taxable Year over the Realized Tax Benefit (or Realized Tax Detriment (expressed
as a negative number)) reflected on the Amended Tax Benefit Schedule for such previous Taxable Year; provided, however,
that the amounts described in 3.01(b)(1), (2), (3) and (4) shall not be taken into account in determining a Tax Benefit Payment
attributable to any Taxable Year to the extent such amounts were taken into account in determining any Tax Benefit Payment in
a preceding Taxable Year; provided, further, for the avoidance of doubt, Seller shall not be required to return
any portion of any previously made Tax Benefit Payment. Notwithstanding the foregoing, for each Taxable Year ending on or after
the date of a Change of Control, all Tax Benefit Payments, whether paid with respect to Units that were exchanged (i) prior to
the date of such Change of Control or (ii) deemed Exchanged on the date of such Change of Control, shall be calculated by utilizing
Valuation Assumptions, substituting in each case the terms “the closing date of a Change of Control” for an “Early
Termination Date”.

 

(c)
Imputed Interest. The parties acknowledge that the principles of Section 1272, 1274, or 483 of the Code, as applicable,
and the principles of any similar provision of U.S. state and local law, will apply to cause a portion of any Tax Benefit Payment
to be treated as imputed interest for applicable tax purposes (“Imputed Interest”). For avoidance of doubt,
any Tax Benefit Payment treated as Imputed Interest shall be excluded in determining Realized Tax Benefits and Realized Tax Detriments,
and therefore, will not be taking into account in any subsequent Tax Benefit Payment.

 

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(d)
Computation Rules. Except to the extent the payment of any such Tax Benefit Payment is properly treated as Imputed Interest,
the payment of all Tax Benefit Payments will be treated as a subsequent upward purchase price adjustment that gives rise to further
Basis Adjustments for the Purchaser beginning with the Taxable Year of payment, and as a result, such additional Basis Adjustments
will be incorporated into such Taxable Year continuing for future Taxable Years until any incremental Basis Adjustment benefits
with respect to a Tax Benefit Payment equal an immaterial amount.

 

SECTION
3.02. No Duplicative Payments. It is intended that the above provisions will not result in duplicative payment of any amount
(including interest) required under this Agreement. It is also intended that the provisions of this Agreement provide that 85%
of the Purchaser’s Realized Tax Benefit, plus the Interest Amount, is paid to Seller pursuant to this Agreement. The provisions
of this Agreement shall be construed in the appropriate manner as such intentions are realized.

 

SECTION
3.03. Maximum Payment. The parties hereby acknowledge and agree that, as of the date of this Agreement and as of the date
of any future Exchanges, the aggregate value of the Tax Benefit Payments cannot be reasonably ascertained for U.S. federal income
and other applicable tax purposes. Unless Seller notifies the Purchaser to the contrary within 30 days of an applicable Exchange,
the stated maximum selling price (within the meaning of Treasury Regulation 15A.453-1(c)(2)) with respect to such Exchange shall
not exceed 50% of the amount of the initial consideration received in connection with such Exchange (which, for the avoidance
of doubt, shall include the amount of any cash and the fair market value of any security received, but shall exclude the fair
market value of any Tax Benefit Payments attributable to such Exchange) and the aggregate Tax Benefit Payments with respect to
such Exchange (other than amounts treated as interest (including Imputed Interest) under the Code) shall not exceed such stated
maximum selling price.

 

ARTICLE
IV

Termination

 

SECTION
4.01. Early Termination of Agreement. The Purchaser may terminate this Agreement with respect to some or all of the Holdings
Class B Units and Purchaser Class V Shares held (or previously held and exchanged) by Seller at any time by paying to Seller the
Early Termination Payment; provided, that the Purchaser may not terminate this Agreement prior to the fifth anniversary of the
date of this Agreement except in the event of a Change of Control. In addition, upon a Change of Control of the Purchaser, this
Agreement shall terminate and the Purchaser shall pay to Seller the Early Termination Payment. Upon payment of the Early Termination
Payment by the Purchaser, neither Seller nor the Purchaser shall have any further payment obligations under this Agreement, other
than for any (a) Tax Benefit Payment agreed to by the Purchaser and Seller as due and payable but unpaid as of the Early Termination
Notice and (b) Tax Benefit Payment due for the Taxable Year ending with or including the date of the Early Termination Notice
(except to the extent that the amount described in clause (b) is included in the Early Termination Payment).

 

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SECTION
4.02. Early Termination Notice. If this Agreement is terminated under Section 4.01 above, the Purchaser shall deliver to
Seller a notice (the “Early Termination Notice”) setting forth (i) its intention to exercise its right to terminate
this Agreement under said Section 4.01 (or the circumstances constituting a Change of Control requiring said termination) and
(ii) a schedule (the “Early Termination Schedule”) showing in reasonable detail the calculation of the Early
Termination Payment. The applicable Early Termination Schedule shall become final and binding on all parties unless Seller, within
30 calendar days after receiving the Early Termination Schedule thereto provides the Purchaser with notice of a material objection
to such Schedule made in good faith. If the parties, negotiating in good faith, are unable to successfully resolve the issues
raised in such notice within 30 calendar days after such Schedule was delivered to Seller, the Purchaser and Seller shall employ
the Reconciliation Procedures as described in Section 7.10 of this Agreement.

 

SECTION
4.03. Payment upon Early Termination.

 

(a)
       Payment. Within three calendar days after agreement between Seller and the Purchaser
on the Early Termination Schedule, the Purchaser shall pay to Seller an amount equal to the Early Termination Payment. Such payment
shall be made by wire transfer of immediately available funds to a bank account designated by Seller.

 

(b)
Calculation of Early Termination Payment. The “Early Termination Payment” as of the date of an Early
Termination Schedule shall equal the present value, discounted at the Agreed Rate as of the date of the Early Termination Notice,
of all Tax Benefit Payments that would be required to be paid by the Purchaser to Seller beginning from the Early Termination
Date assuming the Valuation Assumptions are applied. For avoidance of doubt, the Early Termination Payment shall take into account
any Realized Tax Benefit that would be attributable to the payment of such future Tax Benefit Payments using an iterative process
until any incremental Basis Adjustment benefits with respect to a Tax Benefit Payment equal an immaterial amount.

 

ARTICLE
V

Subordination and Late Payments

 

SECTION
5.01. Subordination. Notwithstanding any other provision of this Agreement to the contrary, any Tax Benefit Payment or
Early Termination Payment required to be made by the Purchaser to Seller under this Agreement (an “Exchange Payment”)
shall, upon any payment or distribution of the assets or securities of the Purchaser upon a total or partial liquidation or a
total or partial dissolution of the Purchaser or in a bankruptcy, reorganization, insolvency, receivership or similar proceeding
relating to the Purchaser or its property, rank subordinate and junior in right of payment to any principal, interest or other
amounts due and payable in respect of any obligations in respect of indebtedness for borrowed money of the Purchaser and its subsidiaries
(“Senior Obligations”) and shall rank pari passu with all current or future unsecured obligations of the Purchaser
that are not Senior Obligations. Nothing in this Section 5.01 shall (a) impair, as between the Purchaser and Seller, the obligation
of the Purchaser to make any Exchange Payment on the date it is required to be made by the Purchaser to Seller under this Agreement
or (b) prevent Seller from exercising its available remedies upon a failure of the Purchaser to make such required payments when
due, except in the circumstances expressly set forth in the first sentence of this Section 5.01.

 

SECTION
5.02. Late Payments by the Purchaser. The amount of all or any portion of an Exchange Payment not made to Seller when due
under the terms of this Agreement shall be payable together with any interest thereon, computed at the Late Payment Rate and commencing
from the date on which such Exchange Payment was due and payable.

 

    	11

     

    

 

ARTICLE
VI

PURCHASER TAX MATTERS; Consistency; Cooperation

 

SECTION
6.01. Participation in the Purchaser’s Tax Matters. Except as otherwise provided herein, the Purchaser shall have
full responsibility for, and sole discretion over, all Tax matters concerning the Purchaser, including without limitation the
preparation, filing or amending of any Tax Return and defending, contesting or settling any issue pertaining to Taxes. Notwithstanding
the foregoing, the Purchaser shall notify Seller of, and keep Seller reasonably informed with respect to the portion of, any audit
of the Purchaser by a Taxing Authority the outcome of which is reasonably expected to affect Seller’s rights and obligations
under this Agreement, and shall provide to Seller reasonable opportunity to provide information and other input to the Purchaser
and its advisors concerning the conduct of any such portion of such audit. Purchaser shall not settle any audit or other tax proceeding
in a manner that would be reasonably expected to materially and adversely impact the Seller with respect to the rights or obligations
under this Agreement without the prior written consent of the Seller or the Seller Representative (such consent may not be unreasonably
withheld, conditioned or delayed).

 

SECTION
6.02. Consistency. Unless there is a Determination to the contrary, the Purchaser and Seller agree to report and cause
to be reported for all purposes, including federal, state and local Tax purposes and financial reporting purposes, all Tax-related
items (including without limitation the Basis Adjustment and each Tax Benefit Payment) in a manner consistent with that specified
by the Purchaser in any Schedule required to be provided by or on behalf of the Purchaser under this Agreement. In the event that
an Advisory Firm is replaced with another firm acceptable to the Purchaser and Seller, such replacement Advisory Firm shall be
required to perform its services under this Agreement using procedures and methodologies consistent with the previous Advisory
Firm, unless otherwise required by law or the Purchaser and Seller agree to the use of other procedures and methodologies.

 

SECTION
6.03. Cooperation. Seller shall (a) furnish to the Purchaser in a timely manner such information, documents and other materials
as the Purchaser may reasonably request for purposes of making any determination or computation necessary or appropriate under
this Agreement, preparing any Tax Return or contesting or defending any audit, examination or controversy with any Taxing Authority,
(b) make itself available to the Purchaser and its representatives to provide explanations of documents and materials and such
other information as the Purchaser or its representatives may reasonably request in connection with any of the matters described
in clause (a) above, and (c) reasonably cooperate in connection with any such matter. The Purchaser shall reimburse Seller for
any reasonable third party costs and expenses incurred pursuant to this Section.

 

    	12

     

    

 

ARTICLE
VII

 

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

 

	If
    to Purchaser or Holdings, to:	 	with
    a copy (which will not constitute notice) to:
	 	 	 
	Stryve
    Holdings, Inc.	 	Foley
    & Lardner LLP
	5801
    Tennyson Parkway, Suite 275	 	2021
                                         McKinney Ave, Suite 1600

	Plano,
    TX 75024	 	Dallas,
    TX 75201
	Attn:
    Mr. Joe Oblas	 	Attn:	Chris
    Converse
	Telephone
    No.: (972) 987-5130	 	 	Christopher
    J. Babcock
	Email:
    joe@stryve.com	 	Telephone
        No.:

         
	(214)
        999-4903

        (214)
        999-4370

	 	 	Email:	cconverse@foley.com

        cbabcock@foley.com

 

	If
    to the Seller to:	 	with
    a copy (which will not constitute notice) to:
	 	 	 
	Stryve
    Holdings LLC 	 	Foley
    & Lardner LLP 
	5801
    Tennyson Parkway, Suite 275 	 	2021
    McKinney Ave, Suite 1600 
	Plano,
    TX 75024 	 	Dallas, TX 75201 
	Attn:
    Mr. Joe Oblas 	 	Attn:	Chris
    Converse 
	Telephone
    No.: (972) 987-5130 	 	 	Christopher
    J. Babcock 
	Email:
    joe@stryve.com	 	Telephone No.:	(214)
        999-4903

        (214)
        999-4370

	 	 	Email:	cconverse@foley.com

        cbabcock@foley.com

  

Any
party may change its address or fax number by giving the other party written notice of its new address or fax number in the manner
set forth above.

 

SECTION
7.02. Counterparts. This Agreement may be executed in one or more counterparts, all of which shall be considered one and
the same agreement and shall become effective when one or more counterparts have been signed by each of the parties and delivered
to the other parties, it being understood that all parties need not sign the same counterpart. Delivery of an executed signature
page to this Agreement by facsimile transmission shall be as effective as delivery of a manually signed counterpart of this Agreement.

 

SECTION
7.03. Entire Agreement; No Third Party Beneficiaries. This Agreement constitutes the entire agreement and supersedes all
prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. This
Agreement shall be binding upon and inure solely to the benefit of each party hereto and their respective successors and permitted
assigns, and nothing in this Agreement, express or implied, is intended to or shall confer upon any other Person any right, benefit
or remedy of any nature whatsoever under or by reason of this Agreement.

 

    	13

     

    

 

SECTION
7.04. Governing Law; Jurisdiction. This Agreement shall be governed by, construed and enforced in accordance with the laws
of the State of Delaware without regard to the conflict of laws principles thereof. All disputes arising out of or relating to
this Agreement shall be heard and determined exclusively in any state or federal court located in the State of Delaware (or in
any appellate court thereof) (the “Specified Courts”). Each party hereto hereby (a) submits to the exclusive
jurisdiction of any Specified Court for the purpose of any dispute arising out of or relating to this Agreement brought by any
party hereto and (b) irrevocably waives, and agrees not to assert by way of motion, defense or otherwise, in any such dispute,
any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune
from attachment or execution, that the dispute is brought in an inconvenient forum, that the venue of the dispute is improper,
or that this Agreement or the transactions contemplated hereby may not be enforced in or by any Specified Court. Each party agrees
that a final judgment in any dispute 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 the service of the summons and complaint and any other
process in any other dispute relating to the transactions contemplated by this Agreement, on behalf of itself, or its property,
by personal delivery of copies of such process to such party at the applicable address set forth in Section 7.01. Nothing in this
Section 7.04 shall affect the right of any party to serve legal process in any other manner permitted by law.

 

SECTION
7.05. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT
IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS
AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HAS
REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SEEK TO ENFORCE THAT FOREGOING
WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 7.05.

 

SECTION
7.06. Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced
by any law or public policy, all other terms and provisions of this Agreement shall nevertheless remain in full force and effect
so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse
to any party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the
parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely
as possible in an acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated
to the greatest extent possible.

 

    	14

     

    

 

SECTION
7.07. Assignment; Amendments; Successors.

 

(a)
This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and permitted assigns. This Agreement shall not be assigned by operation of law or otherwise without the
prior written consent of the Purchaser and Seller, and any assignment without such consent shall be null and void; provided
that no such assignment shall relieve the assigning party of its obligations hereunder. Notwithstanding the foregoing, Seller
may, without the prior written consent of the Purchaser, assign (i) all or part of Seller’s rights of access, review, calculation,
approval, objection and other rights pursuant to Sections 2.04, 4.02 and 7.10 to a designated representative (the “Representative”),
and upon such assignment, the Representative shall have all of the rights and obligations of Seller pursuant to Sections 2.04,
4.02 and 7.10 and as designated in Section 7.08, and (ii) a portion of its rights under this Agreement to any member of Seller
who receives Holdings Class B Units and Purchaser Class V Shares as a distribution (and such assignment shall not reduce any rights
of Seller under this Agreement) provided, that if Seller assigns a portion of its rights under this Agreement, the payments provided
hereunder to Seller shall be allocated proportionally to Seller and its assignees based on their respect ownership of Holdings
Class B Units. Any Representative or successor or assignee of Seller shall sign a joinder agreement to this Agreement in form
and substance reasonably satisfactory to Seller and the Purchaser.

 

(b)
This Agreement may be amended, supplemented or modified only by execution of a written instrument signed by the Purchaser and
Seller or upon the liquidation of Seller, the vote or written consent of the holders of a majority of the Seller Consideration
Units (as such term is defined in the Business Combination Agreement)).

 

(c)
All of the terms and provisions of this Agreement shall be binding upon, shall inure to the benefit of and shall be enforceable
by the parties hereto and their respective successors, assigns, heirs, executors, administrators and legal representatives. The
Purchaser shall require and cause any direct or indirect successor (whether by purchase, merger, consolidation or otherwise) to
all or substantially all of the business or assets of the Purchaser, by written agreement, expressly to assume and agree to perform
this Agreement in the same manner and to the same extent that the Purchaser would be required to perform if no such succession
had taken place.

 

SECTION
7.08. Representative.

 

(a)
The Representative designated by Seller pursuant to Section 7.07(a) shall act as an agent, attorney-in-fact and representative
of Seller and its assignees, successors and members, with full power of substitution to act in the name, place and stead of such
parties, to act on behalf of such parties in connection with: (i) controlling and making any determinations with respect to any
matters set forth in Sections 2.04 and 4.02; (ii) signing on behalf of such parties any releases or other documents with respect
to any dispute or remedy arising under this Agreement or any documents to which the Representative is a party or otherwise has
rights in such capacity (together with this Agreement, the “Representative Documents”); (iii) employing and
obtaining the advice of legal counsel, accountants and other professional advisors as the Representative, in its reasonable discretion,
deems necessary or advisable in the performance of its duties as the Representative and to rely on their advice and counsel; (iv)
incurring and paying reasonable out-of-pocket costs and expenses, including fees of brokers, attorneys and accountants incurred
pursuant to the transactions contemplated hereby, and any other out-of-pocket fees and expenses allocable or in any way relating
to such transaction or any indemnification claim; and (v) otherwise enforcing the rights and obligations of any such parties under
the Representative Documents, including giving and receiving all notices and communications hereunder or thereunder on behalf
of such parties; provided, that the Representative is specifically authorized and directed to act on behalf of, and for
the benefit of, Seller and its members. All decisions and actions by the Representative, including any agreement between the Representative
and the Purchaser relating to any disputes under this Agreement, shall be binding upon the Seller and its members, successors
and assigns, and neither they nor any other party shall have the right to object, dissent, protest or otherwise contest the same.
The provisions of this Section 7.08 are irrevocable and coupled with an interest. In the event of any distribution of the Holdings
Class B Units and Purchaser Class V Shares by Seller to its members, the members of Seller, as a condition to receiving such distribution,
shall irrevocably appoint the Representative as their agent, attorney-in-fact and representative, with the indemnities, immunities,
releases and powers granted by the Seller under this Section 7.08 (with the obligations of such members being pro rata among the
members based on the distribution received).

 

    	15

     

    

 

(b)
Any other Person, including the Purchaser, may conclusively and absolutely rely, without inquiry, upon any actions of the Representative
as the acts of Seller under any Representative Documents. The Purchaser shall be entitled to rely conclusively on the instructions
and decisions of the Representative as to (i) any payment instructions provided by the Representative or (ii) any other actions
required or permitted to be taken by the Representative under any Representative Document, and Seller shall not have any cause
of action against the Representative or the Purchaser for any action taken by any of them in reliance upon the instructions or
decisions of the Representative. All notices or other communications required to be made or delivered to a member of Seller under
any Representative Document shall be made to the Representative for the benefit of such Seller member, and any notices so made
shall discharge in full all notice requirements of the other parties hereto or thereto to such Seller member with respect thereto.
All notices or other communications required to be made or delivered by a Seller member shall be made by the Representative.

 

(c)
The Representative shall not be liable for any act done or omitted under any Representative Document as the Representative while
acting in good faith and without willful misconduct or gross negligence, and any act done or omitted pursuant to the advice of
counsel shall be conclusive evidence of such good faith. Seller and its members shall indemnify, defend and hold harmless the
Representative from and against any and all losses, actions, orders, liabilities, damages, amounts paid in settlement, costs and
expenses (including reasonable expenses of investigation and court costs and reasonable attorney’s fees and expenses) incurred
without gross negligence, bad faith or willful misconduct on the part of the Representative (in its capacity as such) and arising
out of or in connection with the acceptance or administration of the Representative’s duties under any Representative Document,
including the reasonable fees and expenses of any legal counsel retained by the Representative. In no event shall the Representative
in such capacity be liable under or in connection with any Representative Document for any indirect, punitive, special or consequential
damages. The Representative shall be fully protected in relying upon any written notice, demand, certificate or document that
it in good faith believes to be genuine, including facsimiles or copies thereof, and no Person shall have any liability for relying
on the Representative in the foregoing manner. In connection with the performance of its rights and obligations hereunder, the
Representative shall have the right at any time and from time to time to select and engage, at the cost and expense of the Seller
and its members, attorneys, accountants, investment bankers, advisors, consultants and clerical personnel and obtain such other
professional and expert assistance, maintain such records and incur other out-of-pocket expenses, as the Representative may deem
necessary or appropriate from time to time. All of the indemnities, immunities, releases and powers granted to the Representative
under this Section 7.08 shall survive the execution of this Agreement and continue indefinitely.

 

    	16

     

    

 

(d)
The Person serving as the Representative may resign upon 10 days’ prior written notice to the Purchaser. If the Representative
shall die, become disabled, dissolve, resign or otherwise be unable or unwilling to fulfill its responsibilities as representative
and agent of the Seller and its members, then Seller shall, within 10 days after such death, disability, dissolution, resignation
or other event, appoint a successor Representative (by vote or written consent of Seller’s members holding in the aggregate
a majority of the voting equity interests of Seller (or upon the liquidation of Seller, the holders of a majority of the Seller
Consideration Units (as such term is defined in the Business Combination Agreement)), and promptly thereafter (but in any event
within two Business Days after such appointment) notify the Purchaser in writing of the identity of such successor. Each successor
Representative shall have all of the power, authority, rights and privileges conferred by this Agreement upon the original Representative,
and the term “Representative” as used herein shall be deemed to include any such successor Representatives.

 

SECTION
7.09. Titles and Subtitles. The titles of the sections and subsections of this Agreement are for convenience of reference
only and are not to be considered in construing this Agreement.

 

SECTION
7.10. Reconciliation. In the event that the Purchaser and Seller are unable to resolve a disagreement within the relevant
period designated in this Agreement, the matter shall be submitted for determination to a nationally recognized expert (the “Expert”)
in the particular area of disagreement mutually acceptable to both parties. The Expert shall be employed by a nationally recognized
accounting firm or a law firm (other than the Advisory Firm), and the Expert shall not, and the firm that employs the Expert shall
not, have any material relationship with either the Purchaser or Seller or other actual or potential conflict of interest. The
Expert shall resolve any matter relating to the Exchange Basis Schedule or an amendment thereto within 30 calendar days and shall
resolve any matter relating to a Tax Benefit Schedule or an amendment thereto within 15 calendar days, in each case after the
matter has been submitted to the Expert for resolution. Notwithstanding the preceding sentence, if the matter is not resolved
before any payment that is the subject of a disagreement is due or any Tax Return reflecting the subject of a disagreement is
due, such payment shall be made on the date prescribed by this Agreement and such Tax Return may be filed as prepared by the Purchaser,
subject to adjustment or amendment upon resolution. The costs and expenses relating to the engagement of such expert or amending
any Tax Return shall be borne by the party who did not have the prevailing position, or if a compromise is reached by the Purchaser
and Seller, the costs and expenses shall be borne equally by the parties. The Expert shall determine which party prevails. The
determinations of the Expert pursuant to this Section 7.10 shall be binding on the Purchaser and Seller absent manifest error.

 

SECTION
7.11. Withholding. The Purchaser shall be entitled to deduct and withhold from any payment payable pursuant to this Agreement
such amounts as the Purchaser is required to deduct and withhold with respect to such payment under the Code, or any provision
of state, local or foreign tax law. To the extent that amounts are so withheld and paid over to the appropriate Taxing Authority
by the Purchaser, such withheld amounts shall be treated for all purposes of this Agreement as having been paid to Seller. Seller
(or its successors) will promptly provide the Purchaser with any applicable tax forms and certifications reasonably requested
by the Purchaser in connection with determining whether any such deductions or withholdings are required under the Code or other
applicable law.

 

[Signature
page follows]

  

    	17

     

    

 

IN
WITNESS WHEREOF, the Purchaser, Holdings and Seller have duly executed this Agreement as of the date first written above.

 

	 	Purchaser:
	 	 	 
	 	STRYVE FOODS, INC.
	 	 
	 	By:	 /s/ R. Alex Hawkins 
	 	Name:	 R. Alex Hawkins 
	 	Title:	 Chief Operating Officer 
	 	 	 
	 	ANDINA
    HOLDINGS LLC 
	 	 by Stryve Foods, Inc., 
	 	 its Managing Member 
	

                                                          
	 	 
	 	By:	 /s/ R. Alex Hawkins 
	 	Name:	 R.
    Alex Hawkins 
	 	Title:	 Chief Operating Officer 
	 	 	 
	 	Seller
	 	 	 
	 	STRYVE FOODS HOLDINGS, LLC
	 	 	 
	 	By:	 /s/ R. Alex Hawkins 
	 	Name:	 R. Alex Hawkins 
	 	Title:	 Chief Operating OfficerExhibit 10.12

 

AMENDED
AND RESTATED

 

LIMITED LIABILITY COMPANY AGREEMENT

 

OF

 

ANDINA HOLDINGS, LLC

 

DATED AS OF July 20, 2021

 

THE
LIMITED LIABILITY COMPANY INTERESTS IN ANDINA HOLDINGS, LLC HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”), THE SECURITIES LAWS OF ANY STATE, OR ANY OTHER APPLICABLE SECURITIES LAWS,
AND ARE BEING SOLD IN RELIANCE UPON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND SUCH LAWS. SUCH INTERESTS
MUST BE ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE OFFERED FOR SALE, PLEDGED, HYPOTHECATED, SOLD, ASSIGNED OR TRANSFERRED AT
ANY TIME EXCEPT IN COMPLIANCE WITH (I) THE SECURITIES ACT, ANY APPLICABLE SECURITIES LAWS OF ANY STATE AND ANY OTHER APPLICABLE
SECURITIES LAWS; (II) THE TERMS AND CONDITIONS OF THIS AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT; AND (III) ANY
OTHER TERMS AND CONDITIONS AGREED TO IN WRITING BETWEEN THE MANAGING MEMBER AND THE APPLICABLE MEMBER. THEREFORE, PURCHASERS AND
OTHER TRANSFEREES OF SUCH LIMITED LIABILITY COMPANY INTERESTS WILL BE REQUIRED TO BEAR THE RISK OF THEIR INVESTMENT OR ACQUISITION
FOR AN INDEFINITE PERIOD OF TIME.

 

    	 

    	 

    

 

TABLE
OF CONTENTS

 

	Article
    I DEFINITIONS	2
	 	 	 
	Section
    1.1.	Definitions	2
	Section
    1.2.	Interpretive
    Provisions	13
	 	 	 
	Article
    II ORGANIZATION OF THE LIMITED LIABILITY COMPANY	14
	 	 	 
	Section
    2.1.	Formation	14
	Section
    2.2.	Filings	14
	Section
    2.3.	Amended
    and Restated Limited Liability Company Agreement	14
	Section
    2.4.	Name	14
	Section
    2.5.	Registered
    Office; Registered Agent	14
	Section
    2.6.	Principal
    Place of Business	14
	Section
    2.7.	Purpose;
    Powers	14
	Section
    2.8.	Term	15
	Section
    2.9.	Intent	15
	 	 	 
	Article
    III MEMBERS; UNITS; CAPITAL CONTRIBUTIONS	15
	 	 	 
	Section
    3.1.	Members	15
	Section
    3.2.	Authorized
    Units; General Provisions With Respect to Units	15
	Section
    3.3.	Voting
    Rights	16
	Section
    3.4.	Capital
    Contributions	16
	Section
    3.5.	Issuance
    of Additional Units or Interests; Exchanges and Repurchases; Recapitalizations	16
	Section
    3.6.	Other
    Matters	18
	 	 	 
	Article
    IV CAPITAL ACCOUNTS; ALLOCATIONS OF PROFITS AND LOSSES	19
	 	 	 
	Section
    4.1.	Capital
    Accounts	19
	Section
    4.2.	Profits
    and Losses	19
	Section
    4.3.	Special
    Allocations.	20
	Section
    4.4.	Allocations
    for Tax Purposes in General.	22
	Section
    4.5.	Other
    Allocation Rules.	23
	 	 	 
	Article
    V DISTRIBUTIONS	23
	 	 	 
	Section
    5.1.	Distributions.	23
	Section
    5.2.	Tax
    Distributions.	24
	Section
    5.3.	Distribution
    Upon Withdrawal	25
	 	 	 
	Article
    VI MANAGEMENT	25
	 	 	 
	Section
    6.1.	The
    Managing Member; Fiduciary Duties.	25
	Section
    6.2.	Officers.	26
	Section
    6.3.	Warranted
    Reliance by Officers on Others	27
	Section
    6.4.	Indemnification	27
	Section
    6.5.	Maintenance
    of Insurance or Other Financial Arrangements	28
	Section
    6.6.	Election
    of Managing Member	28
	Section
    6.7.	Resignation
    or Removal of Managing Member; Vacancy	28

 

    	i

    	 

    

 

	Section
    6.8.	No
    Inconsistent Obligations	28
	Section
    6.9.	Compensation;
    Certain Costs and Expenses	28
	 	 	 
	Article
    VII ROLE OF MEMBERS	29
	 	 	 
	Section
    7.1.	Rights
    or Powers	29
	Section
    7.2.	Voting.	29
	Section
    7.3.	Various
    Capacities	30
	Section
    7.4.	Withdrawal
    of PubCo	30
	 	 	 
	Article
    VIII TRANSFERS OF INTERESTS	30
	 	 	 
	Section
    8.1.	Restrictions
    on Transfer.	30
	Section
    8.2.	Notice
    of Transfer	31
	Section
    8.3.	Transferee
    Members	32
	Section
    8.4.	Legend	32
	 	 	 
	Article
    IX ACCOUNTING	33
	 	 	 
	Section
    9.1.	Books
    of Account	33
	Section
    9.2.	Tax
    Elections	33
	Section
    9.3.	Tax
    Returns	33
	Section
    9.4.	Partnership
    Representative	33
	Section
    9.5.	Withholding
    Tax Payments and Obligations	35
	 	 	 
	Article
    X DISSOLUTION AND TERMINATION	36
	 	 	 
	Section
    10.1.	Liquidating
    Events	36
	Section
    10.2.	Bankruptcy	36
	Section
    10.3.	Procedure.	37
	Section
    10.4.	Rights
    of Members.	38
	Section
    10.5.	Notices
    of Dissolution	38
	Section
    10.6.	Reasonable
    Time for Winding Up	38
	Section
    10.7.	No
    Deficit Restoration	38
	Section
    10.8.	Distributions
    In Kind	38
	 	 	 
	Article
    XI GENERAL	39
	 	 	 
	Section
    11.1.	Amendments;
    Waivers.	39
	Section
    11.2.	Further
    Assurances	40
	Section
    11.3.	Successors
    and Assigns	40
	Section
    11.4.	Entire
    Agreement	40
	Section
    11.5.	Rights
    of Members Independent	40
	Section
    11.6.	Governing
    Law; Jurisdiction	40
	Section
    11.7.	WAIVER
    OF JURY TRIAL	41
	Section
    11.8.	Headings	41
	Section
    11.9.	Counterparts	41
	Section
    11.10.	Notices	41
	Section
    11.11.	Representation
    By Counsel; Interpretation	42
	Section
    11.12.	Severability	42
	Section
    11.13.	Expenses	42
	Section
    11.14.	No
    Third-Party Beneficiaries	42

 

    	ii

    	 

    

 

AMENDED
AND RESTATED

 

LIMITED
LIABILITY COMPANY AGREEMENT

 

OF

 

ANDINA
HOLDINGS, LLC

 

This
AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT (as amended, supplemented or restated from time to time, this “Agreement”)
of Andina Holdings, LLC, a Delaware limited liability company (the “Company”), is made and entered into as of 
July 20, 2021, by and among the Company, Stryve Foods, Inc., a Delaware corporation formerly known as Andina Acquisition Corp.
III (“PubCo”), in its capacity as the initial Managing Member, and each Person who is or at any time becomes a Member
in accordance with the terms of this Agreement and the Act. Capitalized terms used herein and not otherwise defined have the respective
meanings set forth in Section 1.1.

 

RECITALS

 

WHEREAS,
the Company was formed under the laws of the State of Delaware upon the filing with the Secretary of State of the State of Delaware of
a certificate of formation (as amended from time to time, the “Certificate of Formation”) on January 27, 2021; 

 

WHEREAS,
prior to the Effective Time, the operation and management of the Company is governed by the Limited Liability Company Agreement of Andina
Holdings, LLC dated as of January 27, 2021 (the “Existing LLC Agreement”);

 

WHEREAS,
PubCo, the Company, B. Luke Weil as purchaser representative, Stryve Foods LLC, a Texas limited liability company (the “Operating
Company”), Stryve Foods Holdings LLC, a Texas limited liability company (the “Seller”), and R. Alex
Hawkins as seller representative, entered into that certain Business Combination Agreement dated as of January 28, 2021 (the “Business
Combination Agreement”);

 

WHEREAS,
pursuant to the Business Combination Agreement and simultaneously with the Closing (as defined in the Business Combination Agreement),
as of the date hereof: 

 

(a)
PubCo contributed to the Company, as a capital contribution in respect of the existing limited liability company interests in
the Company held by PubCo, cash in the amount of  $5,789,738.57 (the “PubCo Contribution”);

 

(b) Seller
contributed to the Company the equity of the Operating Company (together with the PubCo Contribution, the “Contributions”);

 

(c)
immediately following the Contributions, the Company issued (i) to PubCo the Class A Common Units, in exchange for the PubCo Contribution,
and (ii) to the Seller, the Class B Common Units in exchange for the contribution of the Operating Company to the Company.

 

    	1

     

    

 

WHEREAS,
pursuant to the Business Combination Agreement, the Existing LLC Agreement shall be amended and restated to be in the form of
this Agreement effective as of the closing of the Business Combination Agreement, and, accordingly, this Agreement amends, restates
and supersedes the Existing LLC Agreement in its entirety as of effectiveness of such closing.

 

NOW
THEREFORE, in consideration of the mutual covenants and agreements contained herein, and other good and valuable consideration
the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the parties hereby agree as follows,
effective as of the closing of the Business Combination Agreement:

 

Article
I

DEFINITIONS

 

Section
1.1. Definitions. As used in this Agreement and the Schedules and Exhibits attached to this Agreement, the following
definitions shall apply:

 

“A&R
Registration Rights Agreement” has the meaning given to such term in the Business Combination Agreement.

 

“Act”
means the Delaware Limited Liability Company Act, 6 Del. C. § 18-101, et seq., as amended from time to time (or any corresponding
provisions of succeeding law).

 

“Action”
means any claim, action, suit, arbitration, inquiry, proceeding or investigation by or before any Governmental Entity.

 

“Adjusted
Capital Account Deficit” means, with respect to any Member, the deficit balance, if any, in such Member’s Capital
Account at the end of any Fiscal Year, with the following adjustments:

 

(a) credit
to such Capital Account any amount that such Member is obligated to restore under Treasury Regulations Section 1.704-1(b)(2)(ii)(c),
as well as any addition thereto pursuant to the next to last sentences of the Treasury Regulations Sections 1.704-2(g)(1) and
1.704-2(i)(5) after taking into account thereunder any changes during such Fiscal Year in Company Minimum Gain and in the minimum
gain attributable to any Member Nonrecourse Debt; and

 

(b) debit
to such Capital Account the items described in Treasury Regulations Sections 1.704-1(b)(2) (ii)(d)(4), (5) and (6).

 

This
definition of Adjusted Capital Account Deficit is intended to comply with the provisions of Treasury Regulations Section 1.704-1(b)(2)(ii)(d)
and shall be interpreted consistently therewith.

 

“Affiliate”
means, with respect to any Person, any other Person that directly or indirectly controls, is controlled by, or is under common
control with, such Person. For these purposes, “control” means the possession, direct or indirect, of the power to
direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities,
by contract or otherwise; provided that, for purposes of this Agreement, (i) no Member shall be deemed an Affiliate of the Company
or any of its Subsidiaries and (ii) none of the Company or any of its Subsidiaries shall be deemed an Affiliate of any Member.

 

    	2

     

    

 

“Agreement”
has the meaning given to such term in the preamble to this Agreement.

 

“Assumed
Tax Liability” means, with respect to any Member as of any Tax Distribution Date, an amount equal to the federal, state
and local income taxes (including any applicable estimated taxes) that the Partnership Representative reasonably estimates in
good faith would be due from such Member for all taxable periods (or portions thereof) of the Company ending on such Tax Distribution
Date, (i) assuming such Member were an individual who earned solely the items of income, gain, deduction, loss, and/or credit
allocated to such Member pursuant to Article IV for such taxable periods (or portions thereof), (ii) after taking proper
account of loss carryforwards available to individual taxpayers resulting from losses allocated to the Members by the Company,
to the extent not taken into account in prior taxable periods, and (iii) assuming that such Member is subject to tax at the Assumed
Tax Rate. For purposes of determining the Assumed Tax Liability of any Member, (x) adjustments by reason of Section 734(b) of
the Code shall be taken into account, (y) adjustments by reason of Section 743(b) of the Code shall be taken into account and
(z) any items allocated to the Members pursuant to Section 704(c) of the Code and the Treasury Regulations promulgated thereunder
shall not be taken into account.

 

“Assumed
Tax Rate” means, for any taxable period, the highest marginal effective rate of federal, state and local income tax
applicable to an individual resident in New York City (or, if higher, a corporation doing business in New York City) for such
taxable period, determined by applying the rates applicable to ordinary income (in cases where taxes are being determined on ordinary
income allocated to a Member) and capital gains (in cases where taxes are being determined on capital gains allocated to a Member),
and by assuming that state and local income taxes are not deductible in computing a Member’s liability for federal income
tax.

 

“beneficially
own” and “beneficial owner” shall be as defined in Rule 13d-3 of the rules promulgated under the
Exchange Act.

 

“Business
Combination Agreement” has the meaning given to such term in the recitals of this Agreement.

 

“Business
Day” means any day other than a Saturday, Sunday or a day on which the Federal Reserve Bank sitting in New York, New
York is closed for business, excluding as a result of “stay at home”, “shelter-in-place”, “non-essential
employee” or any other similar orders or restrictions or the closure of any physical branch locations at the direction of
any governmental authority so long as the electronic funds transfer systems, including for wire transfers, of commercially banking
institutions in New York, New York are generally open for use by customers on such day.

 

    	3

     

    

 

“Capital
Account” means, with respect to any Member, the Capital Account maintained for such Member in accordance with Section
4.1.

 

“Capital
Contributions” means, with respect to any Member, the amount of cash and the initial Gross Asset Value of any property
(other than cash) contributed to the Company by such Member. Any reference to the Capital Contributions of a Member will include
the Capital Contributions made by a predecessor holder of such Member’s Units to the extent the Capital Contribution was
made in respect of Units Transferred to such Member.

 

“Certificate
of Formation” has the meaning given to such term in the recitals of this Agreement.

 

“Class
A Common Unit” means a Unit having the rights and obligations specified with respect to the Class A Common Units in
this Agreement.

 

“Class
A Stock” means, as applicable, (i) the Class A Common Stock, par value $0.0001 per share, of PubCo or (ii) following
any consolidation, merger, reclassification or other similar event involving PubCo, any shares or other securities of PubCo or
any other Person or cash or other property that becomes payable in consideration for the Class A Stock or into which the Class
A Stock is exchanged or converted as a result of such consolidation, merger, reclassification or other similar event.

 

“Class
B Common Unit” means a Unit having the rights and obligations specified with respect to the Class B Common Units in
this Agreement.

 

“Class
V Stock” means, as applicable, (i) the Class V Common Stock, par value $0.0001 per share, of PubCo or (ii) following
any consolidation, merger, reclassification or other similar event involving PubCo, any shares or other securities of PubCo or
any other Person or cash or other property that becomes payable in consideration for the Class V Stock or into which the Class
V Stock is exchanged or converted as a result of such consolidation, merger, reclassification or other similar event.

 

“Code”
means the Internal Revenue Code of 1986, as amended from time to time (or any corresponding provisions of succeeding law).

 

“Commission”
means the U.S. Securities and Exchange Commission.

 

“Common
Unit” means a Unit having the rights and obligations specified with respect to the Common Units in this Agreement.

 

“Company”
has the meaning given to such term in the preamble to this Agreement.

 

“Company
Indemnitees” has the meaning given to such term in Section 6.4.

 

“Company
Minimum Gain” has the meaning of “partnership minimum gain” set forth in Treasury Regulations Sections
1.704-2(b)(2) and 1.704-2(d). It is further understood that Company Minimum Gain shall be determined in a manner consistent with
the rules of Treasury Regulations Section 1.704-2(b)(2), including the requirement that if the adjusted Gross Asset Value of property
subject to one or more Nonrecourse Liabilities differs from its adjusted tax basis, Company Minimum Gain shall be determined with
reference to such Gross Asset Value.

 

    	4

     

    

 

“Contract”
means any written agreement, contract, lease, sublease, license, sublicense, obligation, promise or undertaking.

 

“control”
(including the terms “controlled by” and “under common control with”), with respect to the relationship
between or among two or more Persons, means the possession, directly or indirectly or as trustee, personal representative or executor,
of the power to direct or cause the direction of the affairs or management of a Person, whether through the ownership of voting
securities, as trustee, personal representative or executor, by Contract, credit arrangement or otherwise.

 

“Depreciation”
means, for each Fiscal Year, an amount equal to the depreciation, amortization, or other cost recovery deduction allowable with
respect to an asset for such Fiscal Year, except that with respect to any property the Gross Asset Value of which differs from
its adjusted basis for federal income tax purposes at the beginning of such Fiscal Year, Depreciation shall be an amount which
bears the same ratio to such beginning Gross Asset Value as the federal income tax depreciation, amortization, or other cost recovery
deduction for such Fiscal Year bears to such beginning adjusted basis; provided, however, that if the adjusted basis for federal
income tax purposes of an asset at the beginning of such Fiscal Year is zero, Depreciation with respect to such asset shall be
determined with reference to such beginning Gross Asset Value using any reasonable method selected by the Partnership Representative.

 

“DGCL”
means the General Corporation Law of the State of Delaware, as amended from time to time (or any corresponding provisions of succeeding
law).

 

“Equity
Plan” means any stock or equity purchase plan, restricted stock or equity plan or other similar equity compensation
plan now or hereafter adopted by PubCo or any of its Subsidiaries.

 

“Effective
Time” means the point in time immediately on the Closing Date immediately after the Closing (as such terms are defined
in the Business Combination Agreement).

 

“Equity
Securities” means (a) with respect to a partnership, limited liability company or similar Person, any and all units,
interests, rights to purchase, warrants, options or other equivalents of, or other ownership interests in, any such Person as
well as debt or equity instruments convertible, exchangeable or exercisable into any such units, interests, rights or other ownership
interests and (b) with respect to a corporation, any and all shares, interests, participation or other equivalents (however designated)
of corporate stock, including all common stock and preferred stock, or warrants, options or other rights to acquire any of the
foregoing, including any debt instrument convertible or exchangeable into any of the foregoing.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended from time to time, and the regulations promulgated thereunder.

 

    	5

     

    

 

“Exchange
Act” means the Securities Exchange Act of 1934, and the rules and regulations promulgated thereunder, as the same may
be amended from time to time (or any corresponding provisions of succeeding law).

 

“Exchange
Agreement” means the “Exchange Agreement” as defined in the Business Combination Agreement.

 

“Existing
LLC Agreement” has the meaning given to such term in the recitals of this Agreement.

 

“Fair
Market Value” means the fair market value of any property based on the amount the Company would receive in an all cash
sale of such property in an arm’s-length transaction with an unaffiliated third party, with neither party having compulsion
to buy or sell, consummated on the day immediately preceding the date on which the event occurred which necessitated the determination
of Fair Market Value, as such amount is determined by the Managing Member (or if pursuant to Article X, the Winding-Up Person)
in its good faith judgment using information and data it deems to be pertinent.

 

“Fiscal
Year” means the fiscal year of the Company, which shall end on December 31 of each calendar year unless, for federal
income tax purposes, another taxable year is required. The Company shall have the same fiscal year for federal income tax purposes
and for accounting purposes.

 

“GAAP”
means generally acceptable accounting principles at the time.

 

“Good
Faith” means a Person having acted in good faith and in a manner such person reasonably believed to be in or not opposed
to the best interests of the Company, and, with respect to a criminal proceeding, having had no reasonable cause to believe such
Person’s conduct was unlawful.

 

“Governmental
Entity” means any federal, national, supranational, state, provincial, local, foreign or other government, governmental,
stock exchange, regulatory or administrative authority, agency or commission or any court, tribunal, or judicial or arbitral body.

 

“Gross
Asset Value” means, with respect to any asset, the asset’s adjusted basis for federal income tax purposes, except
as follows:

 

(a) the
initial Gross Asset Value of any asset contributed by a Member to the Company shall be the gross Fair Market Value of such asset
as of the date of such contribution;

 

(b) the
Gross Asset Values of all Company assets shall be adjusted to equal their respective gross Fair Market Values as of the following
times: (i) the acquisition of an interest (or additional interest) in the Company by any new or existing Member in exchange for
more than a de minimis Capital Contribution to the Company or in exchange for the performance of more than a de minimis amount
of services to or for the benefit of the Company; (ii) the distribution by the Company to a Member of more than a de minimis amount
of Company assets as consideration for an interest in the Company; (iii) the liquidation of the Company within the meaning of
Treasury Regulations Section 1.704-1(b)(2)(ii)(g)(1); (iv) the acquisition of an interest in the Company by any new or existing
Member upon the exercise of a noncompensatory option in accordance with Treasury Regulations Section 1.704-1(b)(2)(iv)(s); or
(v) any other event to the extent determined by the Partnership Representative to be permitted and necessary to properly reflect
Gross Asset Values in accordance with the standards set forth in Treasury Regulations Section 1.704-1(b)(2)(iv)(q); provided,
however, that adjustments pursuant to clauses (i), (ii) and (iv) above shall be made only if the Partnership Representative reasonably
determines that such adjustments are necessary or appropriate to reflect the relative economic interests of the Members in the
Company. If any noncompensatory options are outstanding upon the occurrence of an event described in this paragraph (b)(i) through
(b)(v), the Company shall adjust the Gross Asset Values of its properties in accordance with Treasury Regulations Sections 1.704-1(b)(2)(iv)(f)(1)
and 1.704-1(b)(2)(iv)(h)(2);

 

    	6

     

    

 

 

(c) the
Gross Asset Value of any Company asset distributed to any Member shall be adjusted to equal the gross Fair Market Value of such
asset on the date of such distribution;

 

(d) the
Gross Asset Values of Company assets shall be increased (or decreased) to reflect any adjustments to the adjusted basis of such
assets pursuant to Code Section 734(b) or Code Section 743(b), but only to the extent that such adjustments are taken into account
in determining Capital Accounts pursuant to Treasury Regulations Section 1.704-1(b)(2)(iv)(m) and subsection (f) in the
definition of “Profits” or “Losses” below or Section 4.3(g); provided, however, that the Gross
Asset Value of a Company asset shall not be adjusted pursuant to this subsection to the extent the Partnership Representative
determines that an adjustment pursuant to subsection (b) of this definition is necessary or appropriate in connection with a transaction
that would otherwise result in an adjustment pursuant to this subsection (d); and

 

(e) if
the Gross Asset Value of a Company asset has been determined or adjusted pursuant to subsections (a), (b) or (d)
of this definition of Gross Asset Value, such Gross Asset Value shall thereafter be adjusted by the Depreciation taken into account
with respect to such asset for purposes of computing Profits, Losses and other items allocated pursuant to Article IV.

 

“Imputed
Underpayment Amount” has the meaning given to such term in Section 9.5(b).

 

“Indebtedness”
means (a) all indebtedness for borrowed money (including capitalized lease obligations, sale and leaseback transactions or other
similar transactions, however evidenced), (b) any other indebtedness that is evidenced by a note, bond, debenture, draft or similar instrument,
(c) notes payable and (d) lines of credit and any other agreements relating to the borrowing of money or extension of credit.

 

    	7

     

    

 

“Initial
Capital Account Balance” means, with respect to any Member, the positive Capital Account balance of such Member as of
the Effective Time, the amount or deemed value of which is set forth on Exhibit A.

 

“Interest”
means the entire interest of a Member in the Company, including the Units and all of such Member’s rights, powers and privileges
under this Agreement and the Act.

 

“Joinder”
means a joinder to this Agreement substantially in the form of Exhibit B to this Agreement.

 

“Law”
means any federal, national, supranational, state, provincial, local or similar statute, law, ordinance, regulation, rule, code
or order of any Governmental Entity.

 

“Legal
Action” has the meaning given to such term in Section 11.7.

 

“Liability”
means any liability or obligation, whether known or unknown, asserted or unasserted, absolute or contingent, accrued or unaccrued,
liquidated or unliquidated and whether due or to become due, regardless of when asserted.

 

“Liquidating
Events” has the meaning given to such term in Section 10.1.

 

“Loss”
means any and all losses, damages, claims, costs and expenses, interest, awards, judgments and penalties (including reasonable
attorneys’ fees and expenses, but excluding any allocation of corporate overhead, internal legal department costs and other
internal costs and expenses).

 

“Majority
Members” means the members (which may include PubCo) holding not less than a majority of the Units then outstanding;
provided, that if as of any date of determination, a majority of the Units are held by PubCo or any Affiliate controlled by PubCo,
then “Majority Members” shall mean PubCo together with the Members holding at least a majority of the Units (excluding
Units held by PubCo or its controlled Affiliates) then outstanding.

 

“Managing
Member” has the meaning given to such term in Section 6.1(a).

 

“Material
Subsidiary” means any direct or indirect subsidiary of the Company that, as of the date of determination, represents
more than (a) 50% of the consolidated tangible net assets of the Company or (b) 50% of the consolidated net income of the Company,
before interest, taxes, depreciation and amortization (calculated in a manner substantially consistent with the similar definition
under the Credit Agreement).

 

“Member”
means any Person that executes this Agreement as a Member, and any other Person admitted to the Company as an additional or substituted
Member, that has not made a disposition of such Person’s entire Interest.

 

“Member
Minimum Gain” has the meaning ascribed to “partner nonrecourse debt minimum gain” set forth in Treasury
Regulations Section 1.704-2(i).

 

    	8

     

    

 

“Member
Nonrecourse Debt” has the meaning of “partner nonrecourse debt” set forth in Treasury Regulations
Section 1.704-2(b)(4).

 

“Member
Nonrecourse Deductions” has the meaning of  “partner nonrecourse deductions” set forth in Treasury
Regulations Sections 1.704-2(i)(1) and 1.704-2(i)(2).

 

“National
Securities Exchange” means an exchange registered with the Commission under the Exchange Act.

 

“Nonrecourse
Deductions” has the meaning given to such term in Treasury Regulations Section 1.704-2(b).

 

“Nonrecourse
Liability” has the meaning given to such term in Treasury Regulations Section 1.704-2(b)(3).

 

“Officer”
means each Person designated as an officer of the Company pursuant to and in accordance with the provisions of Section 6.2,
subject to any resolution of the Managing Member appointing such Person as an officer or relating to such appointment.

 

“Old
Units” means Units, as such term is defined in the Existing LLC Agreement.

 

“Partnership
Representative” means the “partnership representative” as defined in Code Section 6223(a) and as appointed
in Section 9.4.

 

“Permitted
Transferee” means, with respect to any Member, (a) any Affiliate of such Member; (b) any successor entity of such Member;
(c) by any Member to the holders of equity interests in such Member in connection with the dissolution of such Member; (d) a trust
established by or for the benefit of a Member of which only such Member and his or her immediate family members are beneficiaries;
(e) any Person established for the benefit of, and beneficially owned solely by, an entity Member or the sole individual direct
or indirect owner of an entity Member; and (f) upon an individual Member’s death, an executor, administrator or beneficiary
of the estate of the deceased Member.

 

“Person”
means any individual, partnership, firm, corporation, limited liability company, association, trust, unincorporated organization
or other entity, as well as any syndicate or group that would be deemed to be a person under Section 13(d)(3) of the Exchange
Act.

 

“Plan
Asset Regulations” means the regulations issued by the U.S. Department of Labor at Section 2510.3101 of Part 2510 of
Chapter XXV, Title 29 of the Code of Federal Regulations, or any successor regulations as the same may be amended from time to time.

 

“President
and Chief Executive Officer” has the meaning given to such term in Section 6.2(b).

 

“Prime
Rate” means, on any date of determination, a rate per annum equal to the rate of interest most recently published by
The Wall Street Journal as the “prime rate” at large U.S. money center banks.

 

    	9

     

    

 

“Proceeding”
has the meaning given to such term in Section 6.4.

 

“Profits”
or “Losses” means, for each Fiscal Year, an amount equal to the Company’s taxable income or loss for
such Fiscal Year, determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss or deduction
required to be stated separately pursuant to Code Section 703(a)(1) shall be included in taxable income or loss), with the following
adjustments (without duplication):

 

(a) any
income or gain of the Company that is exempt from federal income tax and not otherwise taken into account in computing Profits
or Losses shall be added to such taxable income or loss;

 

(b) any
expenditures of the Company described in Code Section 705(a)(2)(B) or treated as Code Section 705(a)(2)(B) expenditures pursuant
to Treasury Regulations Section 1.704-1(b)(2)(iv)(i), and not otherwise taken into account in computing Profits or Losses, shall
be subtracted from such taxable income or loss;

 

(c) in
the event the Gross Asset Value of any Company asset is adjusted pursuant to subsection (b) or (c) or the definition of Gross
Asset Value above, the amount of such adjustment shall be treated as an item of gain (if the adjustment increases the Gross Asset
Value of the Company asset) or an item of loss (if the adjustment decreases the Gross Asset Value of the Company asset) from the
disposition of such asset and shall, except to the extent allocated pursuant to Section 4.3, be taken into account for
purposes of computing Profits or Losses;

 

(d) gain
or loss resulting from any disposition of Company assets with respect to which gain or loss is recognized for federal income tax
purposes shall be computed with reference to the Gross Asset Value of the asset disposed of, notwithstanding that the adjusted
tax basis of such asset differs from its Gross Asset Value;

 

(e) in
lieu of the depreciation, amortization and other cost recovery deductions taken into account in computing such taxable income
or loss, there shall be taken into account Depreciation;

 

(f) to
the extent an adjustment to the adjusted tax basis of any asset pursuant to Code Section 734(b) is required, pursuant to Treasury
Regulations Section 1.704-1(b)(2)(iv)(m)(4), to be taken into account in determining Capital Account balances as a result of a
distribution other than in liquidation of a Member’s interest in the Company, the amount of such adjustment shall be treated
as an item of gain (if the adjustment increases the basis of the asset) or an item of loss (if the adjustment decreases such basis)
from the disposition of such asset and shall be taken into account for purposes of computing Profits or Losses; and

 

(g) any
items of income, gain, loss or deduction which are specifically allocated pursuant to the provisions of Section 4.3 shall
not be taken into account in computing Profits or Losses for such Fiscal Year, but such items available to be specially allocated
pursuant to Section 4.3 will be determined by applying rules analogous to those set forth in subparagraphs (a) through
(f) above.

 

    	10

     

    

 

“Property”
means all real and personal property owned by the Company from time to time, including both tangible and intangible property.

 

“PubCo”
has the meaning given to such term in the preamble to this Agreement.

 

“PubCo
Change in Control” shall be deemed to have occurred if or upon:

 

(a) both
the stockholders of PubCo and the board of directors of PubCo approve, in accordance with PubCo’s certificate of incorporation
and applicable Law, the sale, lease or transfer, in one or a series of related transactions, of all or substantially all of PubCo’s
assets (determined on a consolidated basis), including the Equity Interests in the Company, to any Person or group (as such term
is defined in Section 13(d)(3) of the Exchange Act), other than to any directly or indirectly wholly owned Subsidiary of PubCo,
and such sale, lease or transfer is consummated;

 

(b) both
the stockholders of PubCo and the board of directors of PubCo approve, in accordance with PubCo’s certificate of incorporation
and applicable Law, a merger or consolidation of PubCo with any other Person, other than a merger or consolidation which would
result in the voting Equity Securities of PubCo outstanding immediately prior thereto continuing to represent (either by remaining
outstanding or being converted into voting Equity Securities of the surviving entity) in excess of 50% of the total voting power
represented by the voting Equity Securities of PubCo or such surviving entity outstanding immediately after such merger or consolidation,
and such merger or consolidation is consummated; or

 

(c) the
acquisition, directly or indirectly, by any Person or group (as such term is defined in Section 13(d)(3) of the Exchange Act)
(other than (a) a trustee or other fiduciary holding securities under an employee benefit plan of PubCo, or (b) a corporation
or other entity owned, directly or indirectly, by all of the stockholders of PubCo in substantially the same proportions as their
ownership of stock of PubCo) of beneficial ownership (as defined in Rule 13d-3 under the Exchange Act) in excess of 50% of the
aggregate voting power of the voting Equity Securities of PubCo; provided, that the board of directors of PubCo recommends or
otherwise approves or determines that such acquisition is in the best interest of PubCo and its stockholders.

 

“PubCo
Common Stock” means all classes and series of common stock of PubCo, including the Class A Stock and the Class V Stock.

 

“PubCo
Contribution” has the meaning given to such term in the recitals of this Agreement.

 

“Reclassification
Event” means any of the following: (i) any reclassification or recapitalization of PubCo Common Stock (other than a
change in par value, or from par value to no par value, or from no par value to par value, or as a result of a subdivision or
combination or any transaction subject to Section 3.5(d)), (ii) any merger, consolidation or other combination involving
PubCo, or (iii) any sale, conveyance, lease, or other disposal of all or substantially all the properties and assets of PubCo
to any other Person, in each of clauses (i), (ii) or (iii), as a result of which holders of PubCo Common Stock shall be entitled
to receive cash, securities or other property for their shares of PubCo Common Stock.

 

    	11

     

    

 

“Regulatory
Allocations” is defined in Section 4.3(h).

 

“Restricted
Taxable Year” shall mean (i) the taxable year of the Company ending December 31, 2021 and (ii) any other taxable year
of Company during which PubCo determines the Company does not satisfy the private placement safe harbor of Treasury Regulation
Section 1.7704-1(h). Unless PubCo otherwise notifies the Members with respect to a taxable year, each taxable year of the Company
shall be a Restricted Taxable Year.

 

“Securities
Act” means the Securities Act of 1933, and the rules and regulations promulgated thereunder, as the same may be amended
from time to time (or any corresponding provisions of succeeding law).

 

“Subsidiary”
means, with respect to any specified Person, any other Person with respect to which such specified Person (a) has, directly or
indirectly, the power, through the ownership of securities or otherwise, to elect a majority of directors or similar managing
body or (b) beneficially owns, directly or indirectly, a majority of such Person’s Equity Securities.

 

“Tax
Advance” is defined in Section 5.2(b).

 

“Tax
Advance Eligible Member” means any Member (other than PubCo) that the Partnership Representative reasonably determines
is not subject to Section 402 of the Sarbanes-Oxley Act of 2002.

 

“Tax
Distribution Date” means any date that is two Business Days prior to the date on which estimated federal income tax
payments are required to be made by calendar year corporate taxpayers and the due date for federal income tax returns of corporate
calendar year taxpayers (without regard to extensions).

 

“Tax
Receivables Agreement” means the “Tax Receivables Agreement” as defined in the Business Combination Agreement.

 

“Transfer”
means, as a noun, any voluntary or involuntary, direct or indirect (whether through a change of control of the Transferor or any
Person that controls the Transferor, the issuance or transfer of Equity Securities of the Transferor, by operation of Law or otherwise),
transfer, sale, pledge or hypothecation or other disposition and, as a verb, voluntarily or involuntarily, directly or indirectly
(whether through a change of control of the Transferor or any Person that controls the Transferor, the issuance or transfer of
Equity Securities of the Transferor or any Person that controls the Transferor, by operation of Law or otherwise), to transfer,
sell, pledge or hypothecate or otherwise dispose of. The terms “Transferee,” “Transferor,” “Transferred,”
and other forms of the word “Transfer” shall have the correlative meanings.

 

    	12

     

    

 

“Treasury
Regulations” means the regulations promulgated under the Code by the United States Department of the Treasury.

 

“Underwritten
Offering” has the meaning given to such term in the A&R Registration Rights Agreement.

 

“Unit”
means a unit representing a fractional part of the Interests of a Member and includes Class A Common Units and Class B Common
Units.

 

“Unit
Register” has the meaning given to such term in Section 3.2(d).

 

“Winding-Up
Person” has the meaning given to such term in Section 10.3(a).

 

“Withholding
Payment” has the meaning given to such term in Section 9.5(b).

 

Section
1.2. Interpretive Provisions. For all purposes of this Agreement, except as otherwise expressly provided or unless
the context otherwise requires: 

 

(a) the
terms defined in Section 1.1 have the meanings assigned to them in Section 1.1 and are applicable to the singular as well
as the plural forms of such terms;

 

(b) all
accounting terms not otherwise defined herein have the meanings assigned under GAAP;

 

(c) all
references to currency, monetary values and dollars set forth herein shall mean United States (U.S.) dollars and all payments
hereunder shall be made in United States dollars;

 

(d) when
a reference is made in this Agreement to an Article, Section, Exhibit or Schedule, such reference is to an Article or Section
of, or an Exhibit or Schedule to, this Agreement unless otherwise indicated;

 

(e) whenever
the words “include”, “includes” or “including” are used in this Agreement, they shall be deemed
to be followed by the words “without limitation”;

 

(f) “or”
is not exclusive;

 

(g) pronouns
of either gender or neuter shall include, as appropriate, the other pronoun forms; and

 

(h) the
words “hereof”, “herein” and “hereunder” and words of similar import, when used in this Agreement,
refer to this Agreement as a whole and not to any particular provision of this Agreement.

 

    	13

     

    

 

Article
II

ORGANIZATION OF THE LIMITED LIABILITY COMPANY

 

Section
2.1. Formation. The Company has been formed as a limited liability company pursuant to the provisions of the
Act by the filing of the Certificate of Formation in accordance with the Act.

 

Section
2.2. Filings. The Members shall execute such further documents (including amendments to the Certificate of Formation)
and take such further action as is appropriate to comply with the requirements of Law for the formation or operation of a limited
liability company in Delaware and in all states and other jurisdictions where the Company may conduct its business.

 

Section
2.3. Amended and Restated Limited Liability Company Agreement. The Company, the Managing Member and the Members
hereby execute this Agreement for the purpose of continuing the affairs of the Company and the conduct of its business in accordance
with the provisions of the Act. The Company, the Managing Member and the Members hereby agree that during the term of the Company
set forth in Section 2.8, the rights and obligations of the Members and the Managing Member with respect to the Company
will be determined in accordance with the terms and conditions of this Agreement and the Act. On any matter on which this Agreement
is silent, the Act shall control. No provision of this Agreement shall be in violation of the Act and, to the extent any provision
of this Agreement is in violation of the Act, such provision shall be void and of no effect to the extent of such violation without
affecting the validity of the other provisions of this Agreement. Where the Act provides that a provision of the Act shall apply
“unless otherwise provided in a limited liability company agreement” or words of similar effect, the provisions of
this Agreement shall in each instance control. It is expressly agreed that this Agreement does not provide for contractual appraisal
rights pursuant Section 18-210 of the Act.

 

Section
2.4. Name. The name of the Company is “Andina Holdings, LLC” and all business of the Company shall
be conducted in such name or, in the discretion of the Managing Member, under any other name.

 

Section
2.5. Registered Office; Registered Agent. The location of the registered office of the Company, and its registered
agent, in the State of Delaware shall be as set forth in the Certificate of Formation. The Managing Member may from time to time
change the Company’s registered office and registered agent in the State of Delaware. 

 

Section
2.6. Principal Place of Business. The principal place of business of the Company shall be located in such place
as is determined by the Managing Member from time to time.

 

Section
2.7. Purpose; Powers. The nature of the business or purposes to be conducted or promoted by the Company is to
engage in any lawful act or activity for which limited liability companies may be formed under the Act. The Company shall have
the power and authority to take any and all actions and engage in any and all activities necessary, appropriate, desirable, advisable,
ancillary or incidental to the accomplishment of the foregoing purpose.

 

    	14

     

    

 

Section
2.8. Term. The term of the Company commenced on the date of filing of the Certificate of Formation of the Company
with the office of the Secretary of State of the State of Delaware in accordance with the Act and shall continue indefinitely.
The Company may be dissolved and its affairs wound up only in accordance with Article X. 

 

Section
2.9. Intent. It is the intent of the Members that the Company be operated in a manner consistent with its treatment
as a partnership for federal and applicable state income tax purposes. It is also the intent of the Members that the Company not
be operated or treated as a partnership for purposes of Section 303 of the Federal Bankruptcy Code. None of the Company, the Managing
Member or any Member shall take any action inconsistent with the express intent of the parties hereto as set forth in this Section
2.9.

 

Article
III

MEMBERS; UNITS; CAPITAL CONTRIBUTIONS

 

Section
3.1. Members. PubCo was admitted as a Member in accordance with the terms of the Existing LLC Agreement. Effective as
of the closing of the transactions contemplated by the Business Combination Agreement as of the date hereof, PubCo shall
(a) remain a Member, having its Interest represented by newly-issued Class A Units (b) become and be the initial Managing
Member. Exhibit A sets forth the Members and the number and class of Common Units held by each of them at the Effective Time.

 

Section
3.2. Authorized Units; General Provisions With Respect to Units.

 

(a) Interests
in the Company shall be represented by Units, or such other Equity Securities of the Company, in each case as the Managing Member
may establish in its discretion in accordance with the terms and subject to the restrictions hereof. As of the date hereof, Units
may be either Class A Common Units or Class B Common Units. Subject to the provisions of this Agreement, the Company shall be
authorized to issue from time to time such number and class of Units and such other Equity Securities as the Managing Member shall
determine in accordance with Section 3.5. Each authorized Unit may be issued pursuant to such agreements and in exchange for such
Capital Contributions or other consideration as the Managing Member shall approve, including pursuant to options and warrants.
The Company may reissue any Units that have been repurchased or acquired by the Company.

 

(b) Each
outstanding Common Unit shall be identical except as otherwise provided in this Agreement, and the rights of the Class A Common
Units and Class B Common Units shall be as set forth herein.

 

(c) Initially,
none of the Units will be represented by certificates. If the Managing Member determines that it is in the interest of the Company
to issue certificates representing the Units, certificates will be issued and the Units will be represented by those certificates,
and this Agreement shall be amended as necessary or desirable to reflect the issuance of certificated Units for purposes of the
Uniform Commercial Code. Nothing contained in this Section 3.2(c) shall be deemed to authorize or permit any Member to Transfer
its Units except as otherwise permitted under this Agreement.

 

    	15

     

    

 

(d) The
Company shall maintain as part of its books and records a register (the “Unit Register”) with respect to all
Units issued by the Company. The Unit Register shall set forth the name of each Member and the number of Units held by each Member.
All Transfers of Units validly made in accordance with Article VIII shall be recorded in the Unit Register. The names of
the Members and the number of Units held by each Member as they appear in the Unit Register shall be the official record of the
Members for all purposes. Absent manifest error in the Unit Register, the Company shall be entitled to rely exclusively on record
ownership of Units as shown in the Unit Register for all purposes and shall be entitled to recognize the registered holder of
Units as shown in the Unit Register as the holder of record of such Units and the Member with respect to the Interest represented
thereby for all purposes; provided, however, that the Company shall treat the record owner of any certificate representing Units
as the holder of the Units evidenced thereby unless and until such Units have been Transferred in accordance with this Agreement.
At the Effective Time, Exhibit A shall constitute the Unit Register. From and after the Effective Time, subject to the
foregoing provisions of this Section 3.2(d), the Company may maintain the Unit Register in such form as the Managing Member
shall determine from time to time, and any changes in the information set forth in the Unit Register shall not require any amendment
or other change to Exhibit A.

 

Section
3.3. Voting Rights. No Member has any voting right except with respect to those matters specifically reserved
for a Member vote under the Act and for matters expressly requiring the vote or approval of Members under this Agreement. Except
as otherwise required by the Act, each Class A Common Unit will entitle the holder thereof to one vote on all matters to be voted
on by the Members, and the Class B Common Units will be non-voting. To the extent that any vote of all Members is required under
the Act, the holders of all Units will vote together as a single class on all such matters to be approved by the Members.

 

Section
3.4. Capital Contributions. At of the date hereof, after giving effect to the transactions contemplated by the
Business Combination Agreement, each Member as of the Effective Time shall be deemed to have made Capital Contributions equal
to such Member’s Initial Capital Account Balance set forth on Exhibit A. Except for PubCo as provided in Section
3.5, no Member shall be required to make additional Capital Contributions.

 

Section
3.5. Issuance of Additional Units or Interests; Exchanges and Repurchases; Recapitalizations.

 

(a) From
and after the Effective Time to the extent required by Section 3.5(b), the Managing Member may authorize and create, and
cause the Company to issue, additional Units or other Equity Securities in the Company (including creating preferred interests
or other classes or series of securities having such rights, preferences and privileges as determined by the Managing Member)
solely to the extent they are in the aggregate substantially equivalent to a class of Equity Securities of PubCo; provided that,
following the Effective Time, in each case the Company shall not issue Equity Securities in the Company to any Person unless such
Person shall have executed a Joinder and all other documents, agreements or instruments deemed necessary or desirable in the discretion
of the Managing Member.

 

    	16

     

    

 

(b) If
at any time after the Effective Time PubCo issues a share of its Class A Stock or any other Equity Security of PubCo (other than
shares of Class V Stock), (i) the Company shall issue to PubCo one Class A Common Unit (if PubCo issues a share of Class A Stock),
or such other Equity Security of the Company (if PubCo issues Equity Securities other than Class A Stock) corresponding to the
Equity Securities issued by PubCo, and with substantially the same rights to dividends and distributions (including distributions
upon liquidation) and other economic rights as those of such Equity Securities of PubCo and (ii) the net proceeds received by
PubCo with respect to the corresponding share of Class A Stock or other Equity Security, if any, shall be concurrently transferred
to the Company; provided, however, that if PubCo issues any shares of Class A Stock in order to purchase or fund the purchase
from a Member of a number of Class B Common Units (and shares of Class V Stock) equal to the number of shares of Class A Stock
so issued, then the Company shall not issue any new Common Units in connection therewith and PubCo shall not be required to transfer
such net proceeds to the Company (it being understood that such net proceeds shall instead be transferred to such Member as consideration
for such purchase). Notwithstanding the foregoing, this Section 3.5(b) shall not apply to (i) the issuance and distribution
to holders of shares of PubCo Common Stock of rights to purchase Equity Securities of PubCo under a “poison pill”
or similar shareholders rights plan (it being understood that upon exchange of Class B Common Units for Class A Stock, such Class
A Stock will be issued together with a corresponding right) or (ii) the issuance under the Equity Plans of any warrants, options
or other rights to acquire Equity Securities of PubCo or rights or property that may be converted into or settled in Equity Securities
of PubCo, but shall in the foregoing cases apply to the issuances of Equity Securities of PubCo in connection with the exercise
or settlement of such rights, warrants, options or other rights or property. Except pursuant to the Exchange Agreement, (x) the
Company may not issue any additional Units to PubCo or any of its Subsidiaries unless substantially simultaneously PubCo or such
Subsidiary issues or sells an equal number of shares of PubCo’s Class A Stock to another Person, and (y) the Company may
not issue any other Equity Securities of the Company to PubCo or any of its Subsidiaries unless substantially simultaneously PubCo
or such Subsidiary issues or sells, to another Person, an equal number of shares of a new class or series of Equity Securities
of PubCo or such Subsidiary with substantially the same rights to dividends and distributions (including distributions upon liquidation)
and other economic rights as those of such Equity Securities of the Company. Notwithstanding anything contained herein to the
contrary, the Company shall only be able to issue additional Units or other Equity Interests in the Company to Persons and on
the terms and conditions provided for in Section 3.1, Section 3.4, or Section 3.5.

 

(c) Neither
PubCo nor any of its Subsidiaries may redeem, repurchase or otherwise acquire (i) any shares of Class A Stock (including upon
forfeiture of any unvested shares of Class A Stock) unless substantially simultaneously the Company redeems, repurchases or otherwise
acquires from PubCo an equal number of Class A Common Units for the same price per security or (ii) any other Equity Securities
of PubCo unless substantially simultaneously the Company redeems, repurchases or otherwise acquires from PubCo an equal number
of Equity Securities of the Company of a corresponding class or series with substantially the same rights to dividends and distributions
(including distributions upon liquidation) and other economic rights as those of such Equity Securities of PubCo for the same
price per security. Except pursuant to the Exchange Agreement, the Company may not redeem, repurchase or otherwise acquire (A)
any Class A Common Units from PubCo or any of its Subsidiaries unless substantially simultaneously PubCo or such Subsidiary redeems,
repurchases or otherwise acquires an equal number of shares of Class A Stock for the same price per security from holders thereof,
or (B) any other Equity Securities of the Company from PubCo or any of its Subsidiaries unless substantially simultaneously PubCo
or such Subsidiary redeems, repurchases or otherwise acquires for the same price per security an equal number of Equity Securities
of PubCo of a corresponding class or series with substantially the same rights to dividends and distributions (including distribution
upon liquidation) and other economic rights as those of such Equity Securities of PubCo. Notwithstanding the foregoing, to the
extent that any consideration payable by PubCo in connection with the redemption or repurchase of any shares of Class A Stock
or other Equity Securities of PubCo or any of its Subsidiaries consists (in whole or in part) of shares of Class A Stock or such
other Equity Securities (including, for the avoidance of doubt, in connection with the cashless exercise of an option or warrant),
then the redemption or repurchase of the corresponding Class A Common Units or other Equity Securities of the Company shall be
effectuated in an equivalent manner.

 

    	17

     

    

 

(d) The
Company shall not in any manner effect any subdivision (by any stock split, stock dividend, reclassification, recapitalization
or otherwise) or combination (by reverse stock split, reclassification, recapitalization or otherwise) of the outstanding Units
unless accompanied by an identical subdivision or combination, as applicable, of the outstanding PubCo Common Stock, with corresponding
changes made with respect to any other exchangeable or convertible securities. PubCo shall not in any manner effect any subdivision
(by any stock split, stock dividend, reclassification, recapitalization or otherwise) or combination (by reverse stock split,
reclassification, recapitalization or otherwise) of the outstanding PubCo Common Stock unless accompanied by an identical subdivision
or combination, as applicable, of the outstanding Units, with corresponding changes made with respect to any other exchangeable
or convertible securities.

 

Section
3.6. Other Matters.

 

(a) No
Member shall be entitled to demand or receive a return on or of its Capital Contributions or withdraw from the Company, except
as expressly provided in this Agreement. Under circumstances requiring a return of any Capital Contributions, no Member has the
right to receive property other than cash.

 

(b) No
Member shall receive any interest, salary, compensation, draw or reimbursement with respect to its Capital Contributions or its
Capital Account, or for services rendered or expenses incurred on behalf of the Company or otherwise in its capacity as a Member,
except as otherwise provided in or contemplated by this Agreement.

 

(c) The
Liability of each Member shall be limited as set forth in the Act and other applicable Law and, except as expressly set forth
in this Agreement or required by Law, no Member (or any of its Affiliates) shall be personally liable, whether to the Company,
to any of the other Members, to the creditors of the Company, or to any other third party, for any debt or Liability of the Company,
whether arising in Contract, tort or otherwise, solely by reason of being a Member of the Company.

 

    	18

     

    

 

(d) Except
as otherwise required by the Act or expressly provided in this Agreement, a Member shall not be required to restore a deficit
balance in its Capital Account, to lend any funds to the Company or to make any additional contributions or payments to the Company.

 

(e) The
Company shall not be obligated for the repayment of any Capital Contributions of any Member.

 

Article
IV

CAPITAL ACCOUNTS; ALLOCATIONS OF PROFITS AND LOSSES

 

Section
4.1. Capital Accounts. A Capital Account shall be maintained for each Member in accordance with the provisions
of Treasury Regulations Section 1.704-1(b)(2)(iv) and, to the extent consistent with such regulations, the other provisions of
this Agreement. For this purpose, the Company may (in the discretion of the Partnership Representative), upon the occurrence of
the events specified in Treasury Regulations Section 1.704- 1(b)(2)(iv)(f), increase or decrease the Capital Accounts in accordance
with the rules of such Treasury Regulations and Treasury Regulations Section 1.704-1(b)(2)(iv)(g) to reflect a revaluation of
Company property. The Capital Account balance of each of the Members as of the date hereof is its respective Initial Capital Account
Balance set forth on Exhibit A. Thereafter, each Member’s Capital Account shall be (a) increased by (i) allocations
to such Member of Profits pursuant to Section 4.2 and any other items of income or gain allocated to such Member pursuant
to Section 4.3, (ii) the amount of additional cash or the initial Gross Asset Value of any asset (net of any Liabilities
assumed by the Company and any Liabilities to which the asset is subject) contributed to the Company by such Member, and (iii)
any other increases allowed or required by Treasury Regulations Section 1.704-1(b)(2)(iv), and (b) decreased by (i) allocations
to such Member of Losses pursuant to Section 4.2 and any other items of deduction or loss allocated to such Member pursuant
to the provisions of Section 4.3, (ii) the amount of any cash or the Gross Asset Value of any asset (net of any Liabilities
assumed by the Company and any Liabilities to which the asset is subject) distributed to such Member, and (iii) any other decreases
allowed or required by Treasury Regulations Section 1.704-1(b)(2)(iv). In the event of a Transfer of Units made in accordance
with this Agreement, the Capital Account of the Transferor that is attributable to the Transferred Units shall carry over to the
Transferee Member in accordance with the provisions of Treasury Regulations Section 1.704-1(b)(2)(iv)(l).

 

Section
4.2. Profits and Losses. After giving effect to the allocations under Section 4.3, Profits and Losses
(and, to the extent determined by the Partnership Representative to be necessary and appropriate to achieve the resulting Capital
Account balances described below, any allocable items of income, gain, loss, deduction or credit includable in the computation
of Profits and Losses) for each Fiscal Year shall be allocated among the Members during such Fiscal Year in a manner such that,
after giving effect to the special allocations set forth in Section 4.3 and all distributions through the end of such Fiscal
Year, the Capital Account balance of each Member, immediately after making such allocation, is, as nearly as possible, equal to
(i) the amount such Member would receive pursuant to Section 10.3(b) if all assets of the Company on hand at the end of
such Fiscal Year were sold for cash equal to their Gross Asset Values, all Liabilities of the Company were satisfied in cash in
accordance with their terms (limited with respect to each Nonrecourse Liability to the Gross Asset Value of the assets securing
such Liability), and all remaining or resulting cash was distributed, in accordance with Section 10.3(b), to the Members
immediately after making such allocation, minus (ii) such Member’s share of Company Minimum Gain and Member Minimum Gain,
computed immediately prior to the hypothetical sale of assets. Notwithstanding the foregoing, the Company may make such allocations
as it deems reasonably necessary consistent with Code Section 704 and the applicable Treasury Regulations to give economic effect
to the provisions of this Agreement, taking into account such facts and circumstances as it deems reasonably necessary for this
purpose.

 

    	19

     

    

 

Section
4.3. Special Allocations.

 

(a) Nonrecourse
Deductions for any Fiscal Year shall be specially allocated to the Members on a pro rata basis in accordance with the number of
Units owned by each Member.

 

(b) Any
Member Nonrecourse Deductions for any Fiscal Year shall be specially allocated to the Member who bears economic risk of loss with
respect to the Member Nonrecourse Debt to which such Member Nonrecourse Deductions are attributable in accordance with Treasury
Regulations Section 1.704-2(i). If more than one Member bears the economic risk of loss for such Member Nonrecourse Debt, the
Member Nonrecourse Deductions attributable to such Member Nonrecourse Debt shall be allocated among the Members according to the
ratio in which they bear the economic risk of loss. This Section 4.3(b) is intended to comply with the provisions of Treasury
Regulations Section 1.704-2(i) and shall be interpreted consistently therewith.

 

(c) Except
as otherwise provided in Treasury Regulation Section 1.704-2(f), notwithstanding any other provision of this Agreement to the
contrary, if there is a net decrease in Company Minimum Gain during any Fiscal Year (or if there was a net decrease in Company
Minimum Gain for a prior Fiscal Year and the Company did not have sufficient amounts of income and gain during prior Fiscal Years
to allocate among the Members under this Section 4.3(c)), each Member shall be specially allocated items of Company income
and gain for such Fiscal Year in an amount equal to such Member’s share of the net decrease in Company Minimum Gain during
such year (as determined pursuant to Treasury Regulations Section 1.704-2(g)(2)). Allocations pursuant to the previous sentence
shall be made in proportion to the respective amounts required to be allocated to each Member in accordance with Treasury Regulation
Sections 1.704-2(f)(6) and 1.704-2(j)(2). This section is intended to constitute a minimum gain chargeback under Treasury Regulations
Section 1.704-2(f) and shall be interpreted consistently therewith.

 

(d) Except
as otherwise provided in Treasury Regulation Section 1.704-2(i)(4), notwithstanding any other provision of this Agreement except
Section 4.3(c), if there is a net decrease in Member Minimum Gain during any Fiscal Year (or if there was a net decrease
in Member Minimum Gain for a prior Fiscal Year and the Company did not have sufficient amounts of income and gain during prior
Fiscal Years to allocate among the Members under this Section 4.3(d)), each Member shall be specially allocated items of
Company income and gain for such year in an amount equal to such Member’s share of the net decrease in Member Minimum Gain
(as determined pursuant to Treasury Regulations Section 1.704-2(i)(4)). Allocations pursuant to the previous sentence shall be
made in proportion to the respective amounts required to be allocated to each Member pursuant thereto. The items to be allocated
shall be determined in accordance with Treasury Regulation Sections 1.704-2(i)(4) and 1.704-2(j)(2). This section is intended
to constitute a partner nonrecourse debt minimum gain chargeback under Treasury Regulations Section 1.704-2(i)(4) and shall be
interpreted consistently therewith.

 

    	20

     

    

 

(e) Notwithstanding
any provision hereof to the contrary except Section 4.3(c) and Section 4.3(d), in the event any Member unexpectedly
receives any adjustment, allocation or distribution described in paragraph (4), (5) or (6) of Treasury Regulations Section 1.704-1(b)(2)(ii)(d),
resulting in, or increasing, an Adjusted Capital Account Deficit for such Member, items of Company income and gain (consisting
of a pro rata portion of each item of income, including gross income, and gain for the Fiscal Year) shall be specially allocated
to such Member in an amount and manner sufficient to eliminate any Adjusted Capital Account Deficit of that Member as quickly
as possible; provided that an allocation pursuant to this Section 4.3(e) shall be made only if and to the extent that such
Member would have an Adjusted Capital Account Deficit after all other allocations provided for in this Article IV have
been tentatively made as if this Section 4.3(e) were not in this Agreement. This Section 4.3(e) is intended to constitute
a qualified income offset under Treasury Regulations Section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith.

 

(f) If
any Member has an Adjusted Capital Account Deficit at the end of any Fiscal Year that is in excess of the sum of  (i) the
amount that such Member is obligated to restore and (ii) the amount that the Member is deemed to be obligated to restore pursuant
to the penultimate sentence of Treasury Regulations Sections 1.704- 2(g)(1) and (i)(5), that Member shall be specially allocated
items of Company income, gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this
Section 4.3(f) shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit
in excess of such sum after all other allocations provided for in this Article IV have been made as if Section 4.3(e)
and this Section 4.3(f) were not in this Agreement.

 

(g) To
the extent an adjustment to the adjusted tax basis of any Company asset pursuant to Code Sections 734(b) or 743(b) is required,
pursuant to Treasury Regulations Section 1.704-1(b)(2)(iv)(m)(2) or 1.704- 1(b)(2)(iv)(m)(4), to be taken into account in determining
Capital Accounts as a result of a distribution to any Member in complete liquidation of such Member’s Interest in the Company,
the amount of such adjustment to the Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis
of the asset) or loss (if the adjustment decreases such basis) and such item of gain or loss shall be allocated to the Members
in accordance with Treasury Regulations Section 1.704-1(b)(2)(iv)(m)(2) if such section applies or to the Member to whom such
distribution was made if Treasury Regulations Section 1.704-1(b)(2)(iv)(m)(4) applies.

 

    	21

     

    

 

(h) The
allocations set forth in Section 4.3(a) through Section 4.3(g) (the “Regulatory Allocations”)
are intended to comply with certain requirements of Treasury Regulations Sections 1.704-1(b) and 1.704-2. Notwithstanding any
other provision of this Article IV (other than the Regulatory Allocations), the Regulatory Allocations (and anticipated
future Regulatory Allocations) shall be taken into account in allocating other items of income, gain, loss and deduction among
the Members so that, to the extent possible, the net amount of such allocation of other items and the Regulatory Allocations to
each Member should be equal to the net amount that would have been allocated to each such Member if the Regulatory Allocations
had not occurred. This Section 4.3(h) is intended to minimize to the extent possible and to the extent necessary any economic
distortions which may result from application of the Regulatory Allocations and shall be interpreted in a manner consistent therewith.

 

Section
4.4. Allocations for Tax Purposes in General.

 

(a) Except
as otherwise provided in this Section 4.4, each item of income, gain, loss and deduction of the Company for federal income
tax purposes shall be allocated among the Members in the same manner as such item is allocated under Section 4.2 and Section
4.3.

 

(b) In
accordance with Code Section 704(c) and the Treasury Regulations thereunder (including the Treasury Regulations applying the principles
of Code Section 704(c) to changes in Gross Asset Values), items of income, gain, loss and deduction with respect to any Company
property having a Gross Asset Value that differs from such property’s adjusted federal income tax basis shall, solely for
federal income tax purposes, be allocated among the Members to account for any such difference using the “traditional”
method as described in Treasury Regulation Section 1.704-3(b). Further, the Partnership Representative shall cause the Company
to use the “traditional method” as described in Treasury Regulation Section 1.704-3(b) (including in connection with
any “reverse 704(c) allocation”) that may be required in connection with a “book- up” of the Company’s
assets in connection with the transactions contemplated by the Business Combination Agreement.

 

(c) Any
(i) recapture of Depreciation or any other item of deduction shall be allocated, in accordance with Treasury Regulations Sections
1.1245-1(e) and 1.1254-5, to the Members who received the benefit of such deductions (taking into account the effect of allocations
under Code Section 704(c)), and (ii) recapture of grants credits shall be allocated to the Members in accordance with applicable
Law.

 

(d) Allocations
pursuant to this Section 4.4 are solely for purposes of federal, state and local taxes and shall not affect or in any way
be taken into account in computing any Member’s Capital Account or share of Profits, Losses, other items or distributions
pursuant to any provision of this Agreement.

 

    	22

     

    

 

(e) If,
as a result of an exercise of a noncompensatory option to acquire an interest in the Company, a Capital Account reallocation is
required under Treasury Regulations Section 1.704-1(b)(2)(iv)(s)(3), the Company shall make corrective allocations pursuant to
Treasury Regulations Section 1.704-1(b)(4)(x).

 

Section
4.5. Other Allocation Rules.

 

(a) The
Members are aware of the income tax consequences of the allocations made by this Article IV and the economic impact of
the allocations on the amounts receivable by them under this Agreement. The Members hereby agree to be bound by the provisions
of this Article IV in reporting their share of Company income and loss for income tax purposes.

 

(b) All
items of income, gain, loss, deduction and credit allocable to an interest in the Company that may have been Transferred shall
be allocated between the Transferor and the Transferee based on the portion of the Fiscal Year during which each was recognized
as the owner of such interest; provided, however, that this allocation must be made in accordance with a method permissible under
Code Section 706 and the Treasury Regulations thereunder; provided, further, however, with respect to the IRS Form 1065 (or similar
state or local tax return) filed for the tax year of the Company including the Company Merger, such tax return shall be prepared
utilizing the “interim closing method” as if the tax year ended on the Closing Date and “calendar day convention”
(in each case, as defined in Treasury Regulation Section 1.706-4) as of the end of the day on which the Company Merger occurred.

 

(c) The
Members’ proportionate shares of the “excess nonrecourse liabilities” of the Company, within the meaning of
Treasury Regulations Section 1.752-3(a)(3), shall be allocated to the Members in any manner determined by the Partnership Representative
and permissible under the Treasury Regulations.

 

Article
V

DISTRIBUTIONS

 

Section
5.1. Distributions.

 

(a) Distributions.
To the extent permitted by applicable Law and hereunder, distributions to Members may be declared by the Managing Member out of
funds legally available therefor in such amounts and on such terms (including the payment dates of such distributions) as the
Managing Member shall determine using such record date as the Managing Member may designate; such distribution shall be made to
the Members as of the close of business on such record date on a pro rata basis in accordance with the number of Units owned by
each Member (except that repurchases or exchanges made in accordance with Section 3.5(c) or payments made in accordance
with Section 6.4 need not be on a pro rata basis), in accordance with the number of Units owned by each Member as of the
close of business on such record date; provided, however, that the Company shall have the obligation to make distributions as
set forth in Section 5.2 and Section 6.4; and provided further that, notwithstanding any other provision herein
to the contrary, no distributions shall be made to any Member to the extent such distribution would render the Company insolvent.
For purposes of the foregoing sentence, insolvency means the inability of the Company to meet its payment obligations when due.
Promptly following the designation of a record date and the declaration of a distribution pursuant to this Section 5.1,
the Managing Member shall give notice to each Member of the record date, the amount and the terms of the distribution and the
payment date thereof.

 

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(b) Successors.
For purposes of determining the amount of distributions, each Member shall be treated as having made the Capital Contributions
and as having received the Distributions made to or received by its predecessors in respect of any of such Member’s Units.

 

(c) Distributions
In-Kind. Except as otherwise provided in this Agreement, any distributions may be made in cash or in kind, or partly in cash
and partly in kind, as determined by the Managing Member. To the extent that the Company distributes property in-kind to the Members,
the Company shall be treated as making a distribution equal to the Fair Market Value of such property for purposes of Section
5.1(a) and such property shall be treated as if it were sold for an amount equal to its Fair Market Value. Any resulting gain
or loss shall be allocated to the Member’s Capital Accounts in accordance with Section 4.2 and Section 4.3.

 

Section
5.2. Tax Distributions.

 

(a) Prior
to making distributions pursuant to Section 5.1, on each Tax Distribution Date, the Company shall, subject to the availability
of funds and to any restrictions contained in any agreement to which the Company is bound, make distributions to the Members on
a pro rata basis in accordance with the number of Units owned by each Member, subject to Section 5.2(b), in an amount sufficient
to cause PubCo to receive a distribution equal to all of PubCo’s federal, state, local and non-U.S. tax liabilities during
the Fiscal Year or other taxable period to which the tax-related distribution under this Section 5.2(a) relates. In the
event the Company is unable to make a distribution required by this Section 5.2(a), such distribution shall be made promptly
upon resolution of the circumstances prohibited such distribution.

 

(b) If
a Tax Advance Eligible Member has an Assumed Tax Liability at a Tax Distribution Date in excess of the sum of the cumulative amount
of distributions made to such Member under Section 5.1, Section 5.2(a) and advances made under this Section 5.2(b),
in each case, in the relevant Fiscal Year or other taxable period, the Company shall, to the extent permitted by applicable Law,
and subject to the legal availability of funds and any restrictions contained in any agreement to which the Company is bound,
make advances to such Member in an amount equal to such excess (a “Tax Advance”). Any such Tax Advance shall
be treated as an advance against and, thus, shall reduce (without duplication), any future distributions that would otherwise
be made to such Member pursuant to Sections 5.1 and 10.3(b)(iii). If there is a Tax Advance outstanding with respect
to a Member (i) who exchanges their Class B Units pursuant to the terms of the Exchange Agreement, or (ii) who Transfers Units
pursuant to the provisions of Article VIII, then in each case such Member shall indemnify and hold harmless the Company
against such Tax Advance, and shall be required to promptly pay to the Company (but in all events within fifteen (15) days after
the exchange date or Transfer date, as the case may be) an amount of cash equal to the proportionate share of such Tax Advance
relating to its Units subject to the exchange or Transfer (determined at the time of the exchange or Transfer based on the number
of Units subject to the exchange or Transfer as compared to the total number of Units held by such Member), provided that, in
the case of a Transfer described in clause (ii), such Member shall not be required to pay such amount of cash equal to
the proportionate share of such Tax Advance relating to its Units subject to the Transfer, if the transferee is either a Permitted
Transferee or such Transfer is otherwise approved by the Managing Member and the transferee agrees to assume the Member’s
obligation to repay to the Company such amount equal to the proportionate share of the Member’s existing Tax Advance relating
to such Units subject to the Transfer, and such Member shall be relieved from any liabilities associated with and the obligation
to repay its existing Tax Advance relating to such Units subject to the Transfer. The obligations of each Member pursuant to the
preceding sentence shall survive the withdrawal of any Member or the transfer of any Member’s Units and shall apply to any
current or former Member. For the avoidance of doubt, (i) any payment of a Tax Advance made by the Company pursuant to this Section
5.2(b) shall not reduce the Capital Account balance of the applicable Member, (ii) any repayment of a Tax Advance pursuant
to the previous sentence shall not be treated as a Capital Contribution, and (iii) the parties shall treat any such advance as
an interest free loan for U.S. federal income tax purposes.

 

    	24

     

    

 

Section
5.3. Distribution Upon Withdrawal. No withdrawing Member shall be entitled to receive any distribution or the
value of such Member’s Interest in the Company as a result of withdrawal from the Company prior to the liquidation of the
Company, except as specifically provided in this Agreement.

 

Article
VI

MANAGEMENT

 

Section
6.1. The Managing Member; Fiduciary Duties.

 

(a) The
Company shall managed by a single Managing Member (which shall be the sole “manager,” as such term is defined in the
Act of the Company) (the “Managing Member”). Except as otherwise required by Law or for matters in which vote
or approval of any Member is specifically required under this Agreement, (i) the Managing Member shall have full and complete
charge of all affairs of the Company, (ii) the management and control of the Company’s business activities and operations
shall rest exclusively with the Managing Member, and the Managing Member shall make all decisions regarding the business, activities
and operations of the Company (including the incurrence of costs and expenses) in its sole discretion without the consent of any
other Member and (iii) the Members (in their capacity as such) shall not participate in the control, management, direction or
operation of the activities or affairs of the Company and shall have no power to act for or bind the Company.

 

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(b) The
Managing Member may be any Person (other than a syndicate or group that would be deemed to be a person under Section 13(d)(3)
of the Exchange Act) and may, but need not be, a Member. PubCo shall be the initial Managing Member as of the Effective Time and
shall serve as the Managing Member from and after the date hereof until a successor Managing Member is duly elected pursuant to
Section 6.6.

 

(c) In
connection with the performance of its duties as the Managing Member of the Company, the Managing Member acknowledges that it
will owe to the Members the same fiduciary duties as it would owe to the stockholders of a Delaware corporation if it were a member
of the board of directors of such a corporation and the Members were stockholders of such corporation. The parties acknowledge
that PubCo, as the initial Managing Member and for so long as it continues to be the Managing Member, will take action through
its board of directors, and that the members of PubCo’s board of directors will owe comparable fiduciary duties to the stockholders
of PubCo.

 

Section
6.2. Officers.

 

(a) The
Managing Member may appoint, employ or otherwise contract with any Person for the transaction of the business of the Company or
the performance of services for or on behalf of the Company, and the Managing Member may delegate to any such Persons such authority
to act on behalf of the Company as the Managing Member may from time to time deem appropriate.

 

(b) Except
as otherwise set forth herein or as otherwise determined by the Managing Member from time to time, the executive officers of PubCo
shall be the executive officers of the Company (bearing the same responsibilities to the Company as they do to PubCo, unless determined
otherwise by the Managing Member) will be responsible for the general and active management of the business of the Company and
its Subsidiaries and will see that all orders of the Managing Member are carried into effect. Any officer of the Company will
have the power to execute bonds, mortgages and other Contracts requiring a seal, under the seal of the Company, except where required
or permitted by Law to be otherwise signed and executed.

 

(c) Except
as set forth herein, the Managing Member may appoint Officers at any time, and the Officers may include one or more vice presidents,
a secretary, one or more assistant secretaries, a chief financial officer, a general counsel, a treasurer, one or more assistant
treasurers, a chief operating officer, an executive chairman, and any other officers that the Managing Member deems appropriate.
Except as set forth herein, the Officers will serve at the pleasure of the Managing Member, subject to all rights, if any, of
such Officer under any Contract of employment. Any individual may hold any number of offices, and an Officer may, but need not,
be a Member of the Company. The Officers will exercise such powers and perform such duties as specified in this Agreement or as
determined from time to time by the Managing Member.

 

(d) Subject
to this Agreement and to the rights, if any, of an Officer under a Contract of employment, any Officer may be removed, either
with or without cause, by the Managing Member. Any Officer may resign at any time by giving written notice to the Managing Member.
Any resignation will take effect at the date of the receipt of that notice or at any later time specified in that notice; and,
unless otherwise specified in that notice, the acceptance of the resignation will not be necessary to make it effective. Any resignation
is without prejudice to the rights, if any, of the Company under any Contract to which the Officer is a party. A vacancy in any
office because of death, resignation, removal, disqualification or any other cause will be filled in the manner prescribed in
this Agreement for regular appointments to that office.

 

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Section
6.3. Warranted Reliance by Officers on Others. In exercising their authority and performing their duties under
this Agreement, the Officers shall be entitled to rely on information, opinions, reports, or statements of the following persons
or groups unless they have actual knowledge concerning the matter in question that would cause such reliance to be unwarranted:

 

(a) one
or more employees or other agents of the Company or in subordinates whom the Officer reasonably believes to be reliable and competent
in the matters presented; and

 

(b) any
attorney, public accountant, or other person as to matters which the Officer reasonably believes to be within such person’s
professional or expert competence.

 

Section
6.4. Indemnification. Subject to the limitations and conditions provided in this Section 6.4, each Person
who was or is made a party or is threatened to be made a party to or is involved in any threatened, pending or completed action,
suit or proceeding, whether civil, criminal, administrative or arbitrative (each, a “Proceeding”), or any appeal
in such a Proceeding or any inquiry or investigation that could lead to such a Proceeding, by reason of the fact he, she or it,
or a Person of which he, she or it is the legal representative, is or was a Member, the Managing Member or an Officer, in each
case, shall be indemnified by the Company to the fullest extent permitted by applicable Law, as the same exists or may hereafter
be amended (but, in the case of any such amendment, only to the extent that such amendment permits the Company to provide broader
indemnification rights than such Law permitted the Company to provide prior to such amendment) against all judgment, penalties
(including excise and similar taxes and punitive damages), fines, settlement and reasonable expenses (including reasonable attorneys’
fees and expenses) actually incurred by such Person in connection with such Proceeding, appeal, inquiry or investigation, if such
Person acted in Good Faith. Reasonable expenses incurred by a Person of the type entitled to be indemnified under this Section
6.4 who was, is or is threatened to be made a named defendant or respondent in a Proceeding shall be paid by the Company in
advance of the final disposition of the Proceeding upon receipt of an undertaking by or on behalf of such Person to repay such
amount if it shall ultimately be determined that he, she or it is not entitled to be indemnified by the Company. Indemnification
under this Section 6.4 shall continue as to a Person who has ceased to serve in the capacity which initially entitled such
Person to indemnity hereunder. The rights granted pursuant to this Section 6.4 shall be deemed contract rights, and no
amendment, modification or repeal of this Section 6.4 shall have the effect of limiting or denying any such rights with
respect to actions taken or Proceedings, appeals, inquiries or investigations arising prior to any amendment, modification or
repeal. It is expressly acknowledged that the indemnification provided in this Section 6.4 could involve indemnification
for negligence or under theories of strict liability.

 

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Section
6.5. Maintenance of Insurance or Other Financial Arrangements. In compliance with applicable Law, the Company
(with the approval of the Managing Member) may purchase and maintain insurance or make other financial arrangements on behalf
of any Person who is or was a Member, employee or agent of the Company or the Managing Member, or at the request of the Company
is or was serving as a Managing Member, director, officer, employee or agent of another limited liability company, corporation,
partnership, joint venture, trust or other enterprise, for any Liability asserted against such Person and Liability and expenses
incurred by such Person in such Person’s capacity as such, or arising out of such Person’s status as such, whether
or not the Company has the authority to indemnify such Person against such Liability and expenses. 

 

Section
6.6. Election of Managing Member. The Managing Member shall serve as the Managing Member until its resignation
or removal. In the event that the Managing Member ceases to be the Managing Member, then a new Managing Member shall be elected
by Members holding a majority-in-interest of the Class A Common Units.

 

Section
6.7. Resignation or Removal of Managing Member; Vacancy. The Managing Member may resign as the Managing Member
at any time and may be removed at any time, with our without cause, by the Members holding a majority of the outstanding Class
A Common Units by vote at a meeting of the Members held for such purpose or by action by written consent; provided, however,
that no (i) such resignation or removal shall be effective until a successor Managing Member has been duly elected in accordance
with Section 6.6, and (ii) PubCo shall not resign as the Managing Member for so long as it is a Member. If for any reason
a Managing Member ceases to serve as the Managing Member prior to the election of a successor Managing Member in accordance with
Section 6.6, PubCo shall automatically, and without any action of the Company or any Member, become the Managing Member
and serve as the Managing Member until another Person is duly elected as the Managing Member in accordance with Section 6.6.

 

Section
6.8. No Inconsistent Obligations. The Managing Member represents that it does not have any Contracts, other agreements,
duties or obligations that are inconsistent with its duties and obligations (whether or not in its capacity as Managing Member)
under this Agreement and covenants that, except as permitted by Section 6.1, it will not enter into any Contracts or other
agreements or undertake or acquire any other duties or obligations that are inconsistent with such duties and obligations.

 

Section
6.9. Compensation; Certain Costs and Expenses. The Managing Member shall not be compensated for its services
as the Managing Member of the Company. The Company shall (i) pay, or cause to be paid, all costs, fees, operating expenses and
other expenses of the Company (including the costs, fees and expenses of attorneys, accountants or other professionals and the
compensation of all personnel providing services to the Company) incurred in pursuing and conducting, or otherwise related to,
the activities of the Company, and (ii) in the sole discretion of the Managing Member, bear and/or reimburse the Managing Member
for any costs, fees or expenses incurred by it in connection with serving as the Managing Member. To the extent that the Managing
Member determines in good faith that such expenses are related to the business and affairs of the Managing Member that are conducted
through the Company and/or its Subsidiaries (including expenses that relate to the business and affairs of the Company and/or
its Subsidiaries and that also relate to other activities of the Managing Member), the Managing Member may cause the Company to
pay or bear all expenses of the Managing Member, including, without limitation, costs of securities offerings not borne directly
by the Members, board of directors’ compensation and meeting costs, cost of periodic reports to its stockholders, litigation
costs and damages arising from litigation, accounting and legal costs and franchise taxes, provided that the Company shall not
pay or bear any income tax obligations of the Managing Member.

 

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Article
VII

ROLE OF MEMBERS

 

Section
7.1. Rights or Powers. The Members, acting in their capacity as Members, shall not have any right or power to
take part in the management or control of the Company or its business and affairs or to act for or bind the Company in any way.
Notwithstanding the foregoing, the Members have all the rights and powers specifically set forth in this Agreement and, to the
extent not inconsistent with this Agreement, in the Act. A Member, any Affiliate thereof or an employee, stockholder, agent, director
or officer of a Member or any Affiliate thereof, may also be an employee, or be retained as an agent of, the Company, the Managing
Member or any of their respective Affiliates. The existence of these relationships and acting in such capacities will not result
in the Member (in its capacity as such) being deemed to be participating in the control of the business of the Company or otherwise
affect the limited liability of the Member. Except as specifically provided herein, a Member shall not, in its capacity as a Member,
take part in the operation, management or control of the Company’s business, transact any business in the Company’s
name or have the power to sign documents for or otherwise bind the Company

 

Section
7.2. Voting.

 

(a) Meetings
of the Members may be called by the Managing Member and shall be called by the Managing Member upon the written request of Members
holding at least 25% of the outstanding Class A Common Units. Such request shall state the location of the meeting and the nature
of the business to be transacted at the meeting. Written notice of any such meeting shall be given to all Members not less than
two Business Days nor more than 30 days prior to the date of such meeting. Members may vote in person, by proxy or by telephone
at any meeting of the Members and may waive advance notice of such meeting. Whenever the vote or consent of Members is permitted
or required under this Agreement, such vote or consent may be given at a meeting of the Members or may be given in accordance
with the procedure prescribed in this Section 7.2. Except as otherwise expressly provided in this Agreement, the affirmative
vote of the Members holding a majority of the outstanding Units shall constitute the act of the Members.

 

(b) Each
Member may authorize any Person or Persons to act for it by proxy on all matters in which such Member is entitled to participate,
including waiving notice of any meeting, or voting or participating at a meeting. Every proxy must be signed by such Member or
its attorney-in-fact. No proxy shall be valid after the expiration of 11 months from the date thereof unless otherwise provided
in the proxy. Every proxy shall be revocable at the pleasure of the Member executing it.

 

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(c) Each
meeting of Members shall be conducted by an Officer designated by the Managing Member or such other individual person as the Managing
Member deems appropriate.

 

(d) Any
action required or permitted to be taken by the Members may be taken without a meeting if the requisite Members whose approval
is necessary consent thereto in writing.

 

Section
7.3. Various Capacities. The Members acknowledge and agree that the Members or their Affiliates will from time
to time act in various capacities, including as a Member and as the Partnership Representative.

 

Section
7.4. Withdrawal of PubCo. PubCo shall not, by any means, withdraw as a Member or otherwise cease to be a Member
except in compliance with this Section 7.4. No withdrawal of PubCo as a Member or other cessation of PubCo to be a Member
shall be effective unless (a) proper provision is made, in compliance with this Agreement, so that the obligations of PubCo and
the rights of all Members under this Agreement and applicable Law remain in full force and effect, and (b) PubCo or its successor,
as applicable, provides all other Members with contractual rights, directly enforceable by such other Members against PubCo or
its successor, as applicable, to cause PubCo to comply with all PubCo’s obligations under this Agreement (other than in
its capacity as Managing Member, if applicable).

 

Article
VIII

TRANSFERS OF INTERESTS

 

Section
8.1. Restrictions on Transfer.

 

(a) With
respect to a taxable year of the Company that is a Restricted Taxable Year, no Member shall Transfer (including to a Permitted
Transferee) all or any portion of its Interest without the prior written consent of the Managing Member in the Managing Member’s
sole discretion, unless the Transfer is described in Treasury Regulations Section 1.7704-1(e)(1). With respect to a taxable year
of the Company that is not a Restricted Taxable Year, subject to the Exchange Agreement, no Member shall Transfer (except for
the Transfers by a Member to a Permitted Transferee) all or any portion of its Interest without the prior written consent of the
Managing Member in its sole discretion; provided, that, to the extent that the Managing Member determines in good faith that a
proposed transfer would not have the effect contemplated by Sections 8.1(b)(ii) and (iii), then the Managing Member
will not unreasonably withhold its consent to a transfer by any Member that holds at least 5% of the Units not held by PubCo and
who intends, in connection with such proposed transfer, to transfer all or substantially all of the Units then held by such Member
to any Person or group of Persons acting together that would constitute a “group” for purposes of Section 13(d) of
the Exchange Act or any successor provisions thereto. If, notwithstanding the provisions of this Section 8.1(a) or Section
8.1(b), all or any portion of a Member’s Interests are Transferred in violation of this Section 8.1(a) or Section
8.1(b), involuntarily, by operation of Law or otherwise, then without limiting any other rights and remedies available to
the other parties under this Agreement or otherwise, the Transferee of such Interest (or portion thereof) shall not be admitted
to the Company as a Member or be entitled to any rights as a Member hereunder, and the Transferor will continue to be bound by
all obligations hereunder, unless and until the Managing Member consents in writing to such admission, which consent shall be
granted or withheld in the Managing Member’s sole discretion. Any attempted or purported Transfer of all or a portion of
a Member’s Interests in violation of this Section 8.1(a) or Section 8.1(b) shall be null and void and of no
force or effect whatsoever. For the avoidance of doubt, the restrictions on Transfer contained in this Article VIII shall
not apply to the Transfer of any capital stock of PubCo; provided that no shares of Class V Stock may be Transferred unless a
corresponding number of Units are Transferred therewith in accordance with this Agreement.

 

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(b) In
addition to any other restrictions on Transfer herein contained, including the provisions of this Article VIII, and subject
to the terms of the Exchange Agreement, in no event may any Transfer or assignment of Interests by any Member be made (i) to any
Person who lacks the legal right, power or capacity to own Interests; (ii) unless in the opinion of legal counsel or a qualified
tax advisor to the Company, as requested in the discretion of the Managing Manager, such Transfer does not present a material
risk that such Transfer would cause the Company to cease to be classified as a partnership for federal income tax purposes or
to be classified as a publicly traded partnership within the meaning of Section 7704(b) of the Code for federal income tax purposes;
(iii) if such Transfer would cause the Company to become, with respect to any employee benefit plan subject to Title I of ERISA,
a “party-in-interest” (as defined in Section 3 (14) of ERISA) or a “disqualified person” (as defined in
Section 4975(e)(2) of the Code); (iv) if such Transfer would, in the opinion of counsel to the Company, cause any portion of the
assets of the Company to constitute assets of any employee benefit plan pursuant to the Plan Asset Regulations or otherwise cause
the Company to be subject to regulation under ERISA; (v) if such Transfer requires the registration of such Interests or any Equity
Securities issued upon any exchange of such Interests, pursuant to any applicable federal or state securities Laws; (vi) if such
Transfer subjects the Company to regulation under the Investment Company Act or the Investment Advisors Act of 1940, each as amended
(or any succeeding law); or (vii) if the Transfer or assignment of Interests includes Class B Common Units, unless a corresponding
number of Class V Shares are simultaneously Transferred or assigned to the same Transferee. If a Member Transfers or assigns Class
B Common Units to a Transferee that is not already a Member, the Transferee shall execute and delivery a joinder agreement to
the Exchange Agreement with PubCo reasonably satisfactory to the Managing Member.

 

Section
8.2. Notice of Transfer. Other than in connection with Transfers made pursuant to the Exchange Agreement, each
Member shall, after complying with the provisions of this Agreement, but in any event no later than three Business Days following
any Transfer of Interests, give written notice to the Company and the Managing Member of such Transfer. Each such notice shall
describe the manner and circumstances of the Transfer.

 

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Section
8.3. Transferee Members. A Transferee of Interests pursuant to this Article VIII shall have the right
to become a Member only if  (i) the requirements of this Article VIII are met, (ii) such Transferee executes a Joinder
or another instrument reasonably satisfactory to the Managing Member agreeing to be bound by the terms and provisions of this
Agreement and assuming all of the Transferor’s then existing and future Liabilities arising under or relating to this Agreement,
(iii) such Transferee represents that the Transfer was made in accordance with all applicable securities Laws, (iv) the Transferor
or Transferee shall have reimbursed the Company for all reasonable expenses (including attorneys’ fees and expenses) of
any Transfer or proposed Transfer of a Member’s Interest, whether or not consummated and (v) if such Transferee or his or
her spouse is a resident of a community property jurisdiction, then such Transferee’s spouse shall also execute an instrument
reasonably satisfactory to the Managing Member agreeing to be bound by the terms and provisions of this Agreement to the extent
of his or her community property or quasi-community property interest, if any, in such Member’s Interest. Unless agreed
to in writing by the Managing Member, the admission of a Member shall not result in the release of the Transferor from any Liability
that the Transferor may have to each remaining Member or to the Company under this Agreement (but only to the extent existing
or relating to acts or omissions that existed on or prior to such admission date) or under any other Contract between the Managing
Member, the Company or any of its Subsidiaries, on the one hand, and such Transferor or any of its Affiliates, on the other hand.
Notwithstanding anything to the contrary in this Section 8.3, and except as otherwise provided in this Agreement, following
a Transfer by one or more Members (or a transferee of the type described in this sentence) to an Permitted Transferee of all or
substantially all of their Interests, such transferee shall succeed to all of the rights of such Member(s) under this Agreement.

 

Section
8.4. Legend. Each certificate representing a Unit, if any, will be stamped or otherwise imprinted with a legend
in substantially the following form:

 

“THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933.

 

THESE
SECURITIES MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION THEREFROM UNDER SUCH ACT.

 

THE
TRANSFER AND VOTING OF THESE SECURITIES IS SUBJECT TO THE CONDITIONS SPECIFIED IN THE AMENDED AND RESTATED LIMITED LIABILITY COMPANY
AGREEMENT OF ANDINA HOLDINGS, LLC DATED AS OF July 20, 2021, AMONG THE MEMBERS LISTED THEREIN AND THE MANAGING MEMBER, AS IT MAY
BE AMENDED, SUPPLEMENTED AND/OR RESTATED FROM TIME TO TIME, AND NO TRANSFER OF THESE SECURITIES WILL BE VALID OR EFFECTIVE UNTIL SUCH
CONDITIONS HAVE BEEN FULFILLED. COPIES OF SUCH AGREEMENT MAY BE OBTAINED AT NO COST BY WRITTEN REQUEST MADE BY THE HOLDER OF RECORD OF
THIS CERTIFICATE TO THE SECRETARY OF THE ISSUER OF SUCH SECURITIES.”

 

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Article
IX

ACCOUNTING

 

Section
9.1. Books of Account. The Company shall, and shall cause each Material Subsidiary to, maintain true books and
records of account in which full and correct entries shall be made of all its business transactions pursuant to a system of accounting
established and administered in accordance with GAAP, and shall set aside on its books all such proper accruals and reserves as
shall be required under GAAP.

 

Section
9.2. Tax Elections. The Company shall make the following elections on the appropriate forms or tax returns:

 

(a) to
adopt the calendar year as the Company’s Fiscal Year, if permitted under the Code;

 

(b) to
adopt the accrual method of accounting for federal income tax purposes;

 

(c) to
elect to amortize the organizational expenses of the Company as permitted by Code Section 709(b);

 

(d) to
make an election described in Section 754 of the Code for it (and cause each Material Subsidiary of the Company that is treated
as a partnership for U.S. federal income tax to make an election described in Section 754 of the Code), which the Company shall
ensure that it and such Subsidiaries have in effect at all times; and

 

(e) any
other election the Partnership Representative may deem appropriate in its sole discretion.

 

Section
9.3. Tax Returns. The Partnership Representative shall arrange for the preparation and timely filing of all income
and other tax and informational returns of the Company. The Company shall use commercially reasonable best efforts to deliver,
or cause to be delivered, within 90 days after the end of each of the Company’s Fiscal Year, to each Person who was a Member
at any time during such Fiscal Year, all information reasonably necessary related to the Company for the preparation of such Person’s
United States federal and applicable state income tax returns with respect to such Person’s Units. Each Member agrees that
such Member shall not treat any Company item inconsistently on such Member’s federal, state, foreign or other income tax
return with the treatment of the item on the Company’s return.

 

Section
9.4. Partnership Representative. PubCo shall act as the “partnership representative” within the meaning
of Section 6223 of the Code (the “Partnership Representative”). For each Fiscal Year (or portion thereof) in
which the Partnership Representative is an entity, the Company shall appoint the “designated individual” identified
by the Partnership Representative to act on its behalf in accordance with the applicable Treasury Regulations or analogous provisions
of state or local law. The Partnership Representative shall be responsible for making all decisions, filing all elections and
taking all other actions, in each case related to any audit, examination, litigation or other tax-related proceeding, or otherwise
related to its role as “partnership representative” pursuant to Sections 6221 through 6231 of the Code, in its sole
discretion and shall keep the Seller Representative reasonably informed of the status of any such matters on a prompt and regular
basis. Each Member shall notify the Partnership Representative upon receipt of any notice of tax examination by federal, state
or local authorities of tax matters relating to the Company. Each Member shall indemnify and reimburse the Company to the extent
the Company is required to make any payment for taxes, interest, additions to tax or penalties or with respect to a Member’s
share of any adjustment to income, gain, loss, deduction or credit as determined in the reasonable good faith discretion of the
Partnership Representative. To the fullest extent permitted by applicable Law, a Member’s obligations under this Section
9.4 shall survive the dissolution, liquidation, termination and winding-up of the Company and shall survive, as to each Member,
such Member’s withdrawal from the Company or termination of the Member’s status as a Member. Any reasonable, documented
cost or expense incurred by the Partnership Representative in connection with the roles and responsibilities described in this
Section 9.4 shall be borne by the Company. The Members agree to reasonably cooperate with the Company and the Partnership
Representative, including doing or refraining from doing all things reasonably requested by the Partnership Representative, as
necessary to carry out the intent of this Section 9.4, including promptly furnishing information requested by the Partnership
Representative.

 

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Section
9.5. Withholding Tax Payments and Obligations.

 

(a) If
the Company receives proceeds in respect of which a tax has been withheld, the Company shall be treated as having received cash
in an amount equal to the amount of such withheld tax, and, for all purposes of this Agreement but subject to Section 9.5(d),
each Member shall be treated as having received a distribution pursuant to Section 5.1 equal to the portion of the withholding
tax allocable to such Member, as determined by the Partnership Representative in its discretion.

 

(b) The
Company is authorized to (i) withhold from distributions to a Member and to pay over to any Governmental Entity any amount required
to be so withheld pursuant to the Code or any other federal, foreign, state, or local Law and (ii) make payments to any Governmental
Entity with respect to any foreign, federal, state or local tax liability of a Member arising as a result of such Member’s
interest in the Company (a “Withholding Payment”). A Withholding Payment shall include any “imputed underpayment”
within the meaning of Code Section 6225 paid (or payable) by the Company as a result of an adjustment with respect to any partnership
item, including any interest or penalties with respect to any such adjustment (collectively, an “Imputed Underpayment
Amount”). The Partnership Representative shall reasonably determine the portion of any Imputed Underpayment Amount that
is attributable to each Member (including a former Member and such former Member’s assignee(s) or transferee(s)). An Imputed
Underpayment Amount shall include any “imputed underpayment” within the meaning of Code Section 6225 paid (or payable)
by any entity treated as a partnership for federal income tax purposes in which the Company holds (or has held) a direct or indirect
interest, other than through entities treated as corporations for federal income tax purposes, to the extent that the Company
bears the economic burden of such amounts, whether by Law or agreement.

 

    	34

     

    

 

(c) Neither
the Company nor the Partnership Representative shall be liable for any excess taxes withheld in respect of any Member and, in
the event of overwithholding, a Member’s sole recourse shall be to apply for a refund from the appropriate Governmental
Entity.

 

(d) Any
taxes or amounts withheld pursuant to this Section 9.5 shall be treated as if distributed to the relevant Member to the
extent an amount equal to such withheld taxes or amounts would then be distributable to such Member, and, to the extent in excess
of such distributable amounts, as a demand loan payable by the Member to the Company with interest at the Prime Rate in effect
from time to time, compounded annually. The Partnership Representative may, in its sole discretion, either demand payment of the
principal and accrued interest on such demand loan at any time, and enforce payment thereof by legal process, or may withhold
from one or more distributions to a Member amounts sufficient to satisfy such Member’s obligations under any such demand
loan.

 

(e) If
the Company is required by Law to make any payment to a Governmental Entity that is specifically attributable to a Member or a
Member’s status as such (including federal withholding taxes, state personal property taxes, state unincorporated business
taxes, or the portion of an Imputed Underpayment Amount attributable to such Member), then such Member shall indemnify and contribute
to the Company in full for the entire amount of taxes paid (plus interest, penalties and related expenses if the failure of the
Company to make such payment is due to the fault of the Member), which payment shall not be deemed a Capital Contribution for
purposes of this Agreement.

 

(f) Without
limiting the obligations of any Member pursuant to this Section 9.5, the Partnership Representative may offset distributions
to which a Member is otherwise entitled under this Agreement against such Member’s obligation to indemnify the Company under
this Section 9.5(e).

 

(g) Each
Member shall cooperate fully with, and provide all information upon request by the Company, the Partnership Representative and
PubCo regarding all tax matters of the Company or relating to the Exchange Agreement. Such information shall include promptly
furnishing Form W-9s (or other applicable forms) to establish an exemption from withholding on distributions from the Company
and on any exchange by a Member with PubCo pursuant to the Exchange Agreement.

 

(h) The
obligations of each Member pursuant to this Section 9.5 shall survive the withdrawal of any Member or the transfer of any
Member’s Units and shall apply to any current or former Member.

 

    	35

     

    

 

Article
X

DISSOLUTION AND TERMINATION

 

Section
10.1. Liquidating Events. The Company shall dissolve and commence winding up and liquidating upon the first to
occur of the following (“Liquidating Events”):

 

(a) The
determination of the Managing Member to dissolve, wind up and liquidate the Company; provided, however, if such dissolution, wind
up or liquidation is to be effective prior to the fifth Business Day after the first anniversary of date of this Agreement, such
determination shall be approved by the Majority Members; provided, further, the Company may not liquidate unless (i) the surviving
entity of any combination or transaction and each Seller remain subject to the Tax Receivables Agreement on substantially the
same terms and conditions or (ii) each Seller under the Tax Receivable Agreement will receive an Early Termination Payment pursuant
to such liquidation or any other series of events occurring prior to the liquidation (which may include a Change in Control)(as
such terms are used in the Tax Receivables Agreement).;

 

(b) a
dissolution of the Company under Section 18-801(4) of the Act; or

 

(c) the
entry of a decree of judicial dissolution of the Company under Section 18-802 of the Act.

 

The
Members hereby agree that the Company shall not dissolve prior to the occurrence of a Liquidating Event and that no Member shall
seek a dissolution of the Company, under Section 18-802 of the Act or otherwise, other than based on the matters set forth in
subsections (a) and (b) above. If it is determined by a court of competent jurisdiction that the Company has dissolved prior to
the occurrence of a Liquidating Event, the Members hereby agree to continue the business of the Company without a winding up or
liquidation. In the event of a dissolution pursuant to Section 10.1(a), the relative economic rights of each class of Units
immediately prior to such dissolution shall be preserved to the greatest extent practicable with respect to distributions made
to Members pursuant to Section 10.3 in connection with such dissolution, taking into consideration tax and other legal
constraints that may adversely affect one or more parties to such dissolution and subject to compliance with applicable Laws and
regulations, unless, with respect to any class of Units, holders of a majority of the Units of such class consent in writing to
a treatment other than as described above.

 

Section
10.2. Bankruptcy. For purposes of this Agreement, the “bankruptcy” of a Member shall mean the occurrence
of any of the following: (a) any Governmental Entity shall take possession of any substantial part of the property of that Member
or shall assume control over the affairs or operations thereof, or a receiver or trustee shall be appointed, or a writ, order,
attachment or garnishment shall be issued with respect to any substantial part thereof, and such possession, assumption of control,
appointment, writ or order shall continue for a period of 90 consecutive days; or (b) a Member shall admit in writing of its inability
to pay its debts when due, or make an assignment for the benefit of creditors; or apply for or consent to the appointment of any
receiver, trustee or similar officer or for all or any substantial part of its property; or shall institute (by petition, application,
answer, consent or otherwise) any bankruptcy, insolvency, reorganization, arrangement, readjustment of debts, dissolution, liquidation,
or similar proceeding under the Laws of any jurisdiction; or (c) a receiver, trustee or similar officer shall be appointed for
such Member or with respect to all or any substantial part of its property without the application or consent of that Member,
and such appointment shall continue undischarged or unstayed for a period of 90 consecutive days or any bankruptcy, insolvency,
reorganization, arrangements, readjustment of debt, dissolution, liquidation or similar proceedings shall be instituted (by petition,
application or otherwise) against that Member and shall remain undismissed for a period of 90 consecutive days.

 

    	36

     

    

 

Section
10.3. Procedure.

 

(a) In
the event of the dissolution of the Company for any reason, the Managing Member (or the Managing Member may appoint one or more
Persons to act as liquidator, and shall appoint such a liquidator in the event the Managing Member is bankrupt) (as applicable,
the “Winding-Up Person”) shall commence to wind up the affairs of the Company and to liquidate the Company’s
investments. Subject to Section 10.4(a), such Winding-Up Person shall have full right and unlimited discretion to determine
in good faith the time, manner and terms of any sale or sales of the Property or other assets pursuant to such liquidation, having
due regard to the activity and condition of the relevant market and general financial and economic conditions. The Members shall
continue to share profits, losses and distributions during the Fiscal Year of dissolution and liquidation in the same manner and
proportion as though the Company had not dissolved. The Company shall engage in no further business except as may be necessary,
in the reasonable discretion of the Winding-Up Person to preserve the value of the Company’s assets during the Fiscal Year
of dissolution and liquidation.

 

(b) Following
the payment of all expenses of liquidation and the allocation of all Profits and Losses as provided in Article IV, the
proceeds of the liquidation and any other funds of the Company shall be distributed in the following order of priority:

 

(i) First,
to the payment and discharge of all of the Company’s debts and Liabilities to creditors (whether third parties or Members),
in the order of priority as provided by Law, except any obligations to the Members in respect of their Capital Accounts;

 

(ii) Second,
to set up such cash reserves which the Managing Member reasonably deems necessary for contingent or unforeseen Liabilities or
future payments described in Section 10.3(b)(i) (which reserves when they become unnecessary shall be distributed in accordance
with the provisions of subsection (iii), below); and

 

(iii) Third,
subject to Section 5.2(b), the balance to the Members, pro rata in proportion to their respective Units.

 

    	37

     

    

 

(c) Except
as provided in Section 10.4(a), no Member shall have any right to demand or receive property other than cash upon dissolution
and termination of the Company.

 

(d) Upon
the completion of the liquidation of the Company and the distribution of all Company funds, the Company shall terminate and the
Winding-Up Person shall have the authority to execute and record a certificate of cancellation of the Company, as well as any
and all other documents required to effectuate the dissolution and termination of the Company.

 

Section
10.4. Rights of Members.

 

(a) Each
Member irrevocably waives any right that it may have to maintain an action for partition with respect to the property of the Company.

 

(b) Except
as otherwise provided in this Agreement, (i) each Member shall look solely to the assets of the Company for the return of its
Capital Contributions, and (ii) no Member shall have priority over any other Member as to the return of its Capital Contributions,
distributions or allocations.

 

Section
10.5. Notices of Dissolution. In the event a Liquidating Event occurs or an event occurs that would, but for
provisions of Section 10.1, result in a dissolution of the Company, the Company shall, within 30 days thereafter, (a) provide
written notice thereof to each of the Members and to all other parties with whom the Company regularly conducts business (as determined
in the discretion of the Managing Member), and (b) comply, in a timely manner, with all filing and notice requirements under the
Act or any other applicable Law.

 

Section
10.6. Reasonable Time for Winding Up. A reasonable time shall be allowed for the orderly winding up of the business
and affairs of the Company and the liquidation of its assets in order to minimize any losses that might otherwise result from
such winding up.

 

Section
10.7. No Deficit Restoration. No Member shall be personally liable for a deficit Capital Account balance of that
Member, it being expressly understood that the distribution of liquidation proceeds shall be made solely from existing Company
assets.

 

Section
10.8. Distributions In Kind. Subject to the order of priorities in Section 10.3(b), the Winding-Up Person
may, in its sole discretion, distribute to the Members, in lieu of cash, either (i) all or any portion of the remaining Company
assets in-kind in accordance with Section 10.3(b)(iii), (ii) as tenants in common in accordance with the provisions of
Section 10.3(b)(iii), undivided interest in all or a portion of such Company assets or (iii) a combination of the foregoing.
Any such distributions to the Members in kind shall be subject to (x) such conditions relating to the disposition and management
of such assets as the Winding-Up Person deems reasonable and equitable and (y) the terms and conditions of any agreements governing
such assets (or the operation of or holders thereof) as such time.

 

    	38

     

    

 

Article
XI

GENERAL

 

Section
11.1. Amendments; Waivers.

 

(a) The
terms and provisions of this Agreement may be waived, modified or amended (including by means of merger, consolidation or other
business combination to which the Company is a party) solely with the approval of the Managing Member; provided, that no amendment
to this Agreement may:

 

(i) modify
the limited liability of any Member, or increase the Liabilities or obligations of any Member, in each case, without the consent
of each such affected Member;

 

(ii) materially
alter or change any rights, preferences or privileges of any Interests in a manner that is different or prejudicial relative to
any other Interests, without the approval of a majority in interest of the Members holding the Interests affected in such a different
or prejudicial manner;

 

(iii) materially
alter or change any rights, preferences or privileges of any holder of a class of Interests in a manner that is different or prejudicial
relative to any holder of the same class of Interests without the consent of the holder of such Interests affected in such a different
or prejudicial manner;

 

(iv) except
to the extent required to give effect to any additional Units issued in accordance with this Agreement, modify in any material
respect Section 3.2(a) or (b), Section 3.5(a) or (b), Article IV, Article V, Section
6.1(b), Section 8.1(a) or (b), Section 10.1, or Section 10.3(b) without the approval of the Majority
Members; or

 

(v) modify
any of the terms and conditions of this Agreement which terms and conditions expressly require the approval or action of certain
Persons without obtaining the consent of the requisite number or specified percentage of such Persons who are entitled to approve
or take action on such matter.

 

(b) Notwithstanding
the foregoing subsection (a), (i) the Managing Member, acting alone, may amend this Agreement to reflect the admission
of new Members, Transfers of Interests, the issuance of additional Units or Equity Securities, as provided by the terms of this
Agreement, and, subject to Section 11.1(a), subdivisions or combinations of Units made in compliance with Section 3.5(d),
and (ii) the Managing Member and PubCo or its successor, as applicable, acting without any other Member, may amend this Agreement
as and to the extent required by Section 7.5.

 

(c) No
waiver of any provision or default under, nor consent to any exception to, the terms of this Agreement or any agreement contemplated
hereby shall be effective unless in writing and signed by the party to be bound and then only to the specific purpose, extent
and instance so provided.

 

    	39

     

    

 

Section
11.2. Further Assurances. Each party agrees that it will from time to time, upon the reasonable request of another
party, execute such documents and instruments and take such further action as may be required to accomplish the purposes of this
Agreement.

 

Section
11.3. Successors and Assigns. All of the terms and provisions of this Agreement shall be binding upon the parties
and their respective successors and assigns, but shall inure to the benefit of and be enforceable by the successors and assigns
of any Member only to the extent that they are permitted successors and assigns pursuant to the terms hereof. No party may assign
its rights hereunder except as herein expressly permitted.

 

Section
11.4. Entire Agreement. This Agreement, together with all Exhibits and Schedules hereto and all other agreements
referenced therein and herein, constitute the entire agreement between the parties hereto pertaining to the subject matter hereof
and supersede all prior and contemporaneous agreements, understandings, negotiations and discussions, whether oral or written,
of the parties and there are no warranties, representations or other agreements between the parties in connection with the subject
matter hereof except as specifically set forth herein and therein.

 

Section
11.5. Rights of Members Independent. The rights available to the Members under this Agreement and at Law shall
be deemed to be several and not dependent on each other and each such right accordingly shall be construed as complete in itself
and not by reference to any other such right. Any one or more and/or any combination of such rights may be exercised by a Member
and/or the Company from time to time and no such exercise shall exhaust the rights or preclude another Member from exercising
any one or more of such rights or combination thereof from time to time thereafter or simultaneously.

 

Section
11.6. Governing Law; Jurisdiction. This Agreement shall be governed by, construed and enforced in accordance
with the Laws of the State of Delaware without regard to the conflict of laws principles thereof. All Legal Actions arising out
of or relating to this Agreement shall be heard and determined exclusively in any state or federal court located in the State
of Delaware (or in any appellate court thereof) (the “Specified Courts”). Each Member hereby (a) submits to
the exclusive jurisdiction of any Specified Court for the purpose of any Legal Action arising out of or relating to this Agreement
brought by any Member hereto and (b) irrevocably waives, and agrees not to assert by way of motion, defense or otherwise, in any
such Legal Action, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property
is exempt or immune from attachment or execution, that the Legal Action is brought in an inconvenient forum, that the venue of
the Legal Action is improper, or that this Agreement or the transactions contemplated hereby may not be enforced in or by any
Specified Court. Each Member agrees that a final judgment in any Legal Action shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by Law. Each Member irrevocably consents to the service
of the summons and complaint and any other process in any other Legal Action relating to the transactions contemplated by this
Agreement, on behalf of itself, or its property, by personal delivery of copies of such process to such Member at the applicable
address set forth in Section 11.10. Nothing in this Section 11.6 shall affect the right of any Member to serve legal
process in any other manner permitted by Law.

 

    	40

     

    

 

Section
11.7. WAIVER OF JURY TRIAL. EACH
MEMBER HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO
ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY. EACH MEMBER HERETO (A) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT
SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY LEGAL ACTION, SEEK TO ENFORCE THAT FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT
IT AND THE OTHER MEMBERS HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND
CERTIFICATIONS IN THIS SECTION 11.7.

 

Section
11.8. Headings. The descriptive headings of the Articles, Sections and subsections of this Agreement are for
convenience only and do not constitute a part of this Agreement.

 

Section
11.9. Counterparts. This Agreement and any amendment hereto or any other agreement (or document) delivered pursuant
hereto may be executed in one or more counterparts and by different parties in separate counterparts. All of such counterparts
shall constitute one and the same agreement (or other document) and shall become effective (unless otherwise provided therein)
when one or more counterparts have been signed by each party and delivered to the other party.

 

Section
11.10. Notices. Any notice, request, demand or other communication required or permitted to be given or made
under this Agreement shall be in writing and shall be (a) delivered personally, (b) transmitted by first class registered or certified
mail, postage prepaid, return receipt requested, (c) delivered by prepaid overnight courier service or (d) delivered by e-mail
of a PDF document, in each case, at the addresses set forth as follows:

 

if
to the Company, the Managing Member or PubCo, addressed to it at:

 

	Stryve
    Foods, Inc.	with
    a copy (which will not constitute notice) to:
	5801
    Tennyson Parkway, Suite 275	Foley
    & Lardner LLP
	Plano,
    X 75024	2021
    McKinney Ave, Suite 1600
	Attn:
    Mr. Joe Oblas	Dallas,
    TX 75201
	Telephone
    No.: (972) 987-5130 	Attn:	Chris
    Converse, Esq.
	Email: joe@stryve.com	 	Christopher
    J. Babcock
	 	Telephone
    No.:	(214)
    999-4903
	 	 	(214)
    999-4370
	 	Email:	cconverse@foley.com
	 	 	cbabcock@foley.com

 

    	41

     

    

 

;
or, if to a Member other than PubCo, addressed to it at the address for such Member set forth in the Unit Register. Notices shall
be effective and deemed received (i) if delivered personally or sent by courier service, upon actual receipt by the intended recipient,
(ii) if mailed, upon the earlier of five days after deposit in the mail or the date of delivery as shown by the return receipt
therefor, or (iii) on the date sent by e- mail if sent during normal business hours of the recipient, and on the next Business
Day if sent after normal business hours of the recipient.

 

Section
11.11. Representation By Counsel; Interpretation. The parties acknowledge that each party to this Agreement has
been represented by counsel in connection with this Agreement and the transactions contemplated by this Agreement. Accordingly,
any rule of Law, or any legal decision that would require interpretation of any claimed ambiguities in this Agreement against
the party that drafted it has no application and is expressly waived.

 

Section
11.12. Severability. If any provision of this Agreement is determined to be invalid, illegal or unenforceable
by any Governmental Entity, the remaining provisions of this Agreement, to the extent permitted by Law shall remain in full force
and effect, provided, that the essential terms and conditions of this Agreement for all parties remain valid, binding and enforceable.

 

Section
11.13. Expenses. Except as otherwise provided in this Agreement or in the Business Combination Agreement, each
party shall bear its own expenses in connection with the transactions contemplated by this Agreement.

 

Section
11.14. No Third-Party Beneficiaries. Except as expressly provided in Section 6.4 and Section 9.2,
nothing in this Agreement, express or implied, is intended to confer upon any party, other than the parties hereto and their respective
successors and permitted assigns, any rights or remedies under this Agreement or otherwise create any third party beneficiary
hereto.

 

[Signatures
pages follow]

 

    	42

     

    

 

IN
WITNESS WHEREOF, each of the parties hereto has executed, or caused to be executed by its duly authorized represented, this Amended
and Restated Limited Liability Company Agreement as of the day and year first above written.

 

	 	COMPANY:
	 	 
	 	ANDINA
    HOLDINGS, LLC
	 	 By: 	 Stryve Foods, Inc. 
	 	 	 Its Managing Member 
	 	 	 
	 	By:	 /s/
    R. Alex Hawkins 
	 	Name:	 R. Alex Hawkins 
	 	Title:	 Chief Operating Officer 
	 	 
	 	PUBCO
    (in its capacity as a Member and as the initial Managing Member):
	 	 
	 	STRYVE
    FOODS, INC.
	 	 
	 	 
	 	By:	 /s/
    R. Alex Hawkins 
	 	Name:	 R. Alex Hawkins 
	 	Title:	 Chief Operating Officer 

 

[Signature
Page to the Amended and Restated Limited Liability Company Agreement]

 

    	43

     

    

 

EXHIBIT
A

 

MEMBERS,
INITIAL CAPITAL ACCOUNT BALANCE AND INTERESTS

 

	 Member 	 	 Interests 
	 Stryve Foods, Inc. 	 	 9,017,322 Class
  A Units 
	 Stryve Foods Holdings,
  LLC 	 	 11,502,355 Class
  B Units 

 

    	 

    	 

    

 

Exhibit
B

 

FORM
OF JOINDER AGREEMENT

 

This
JOINDER AGREEMENT, dated as of  , _____ (this “Joinder”), is delivered pursuant to that certain Amended
and Restated Limited Liability Company Agreement of Andina Holdings, LLC (the “Company”), dated as of 
[●], 2021 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Company
Agreement”). Capitalized terms used but not otherwise defined herein have the respective meanings set forth in the Company
Agreement.

 

1. Joinder
to the Company Agreement. Upon the execution of this Joinder by the undersigned and delivery hereof to the Managing Member,
the undersigned hereby is and hereafter will be a Member under the Company Agreement and a party thereto, with all the rights,
privileges and responsibilities of a Member thereunder. The undersigned hereby agrees that it shall comply with and be fully bound
by the terms of the Company Agreement as if it had been a signatory thereto as of the date thereof.

 

2. Incorporation
by Reference. All terms and conditions of the Company Agreement are hereby incorporated by reference in this Joinder as if
set forth herein in full.

 

3. Address.
All notices under the Company Agreement to the undersigned shall be direct to:

 

[Name]

 

[Address]

 

[City,
State, Zip Code] Attn:

 

Facsimile:

 

E-mail:

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the undersigned has duly executed and delivered this Joinder as of the day and year first above written.

 

	 	[NAME
    OF NEW MEMBER]
	 	 
	 	By:	      
	 	Name:	 
	 	Title:	 

 

Acknowledged
and agreed

 

as
of the date first set forth above:

 

	[                    ],
    AS MEMBER	 
	 	 
	By:	       	 
	Name:	 	 
	Title:

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