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Exhibit 10.1

FIRST AMENDMENT TO
SUBSCRIPTION AGREEMENT
OF
BETTER CHOICE COMPANY INC.

THIS FIRST AMENDMENT to the Subscription Agreement (this “Amendment”), dated as
of ______, 2020, is entered into by and among Better Choice Company Inc., a
Delaware corporation (the “Company”) and the Investor identified on the
signature pages hereto (the “Investor” and, together with the Company, the
“Parties”).  Capitalized terms used but not defined herein shall have the
meanings given to such terms in the Subscription Agreement (as defined below).

WHEREAS, Section 7(a) of the Subscription Agreement provides that the
Subscription Agreement may be modified only by a writing signed by the Company
and the Investor; and

WHEREAS, the Company and the Investor wish to amend the Subscription Agreement
as provided herein.

NOW THEREFORE, in consideration of the foregoing and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, and
intending to be legally bound, the Parties agree as follows:

1.           Amendments to Section 1.

(a)
The definition of “Convertible Notes” in Section 1 of the Subscription Agreement
is hereby amended and restated in its entirety to read as follows:

“Convertible Notes” means, collectively, the subordinated convertible notes (as
amended and restated January 6, 2020) delivered to the Investor at the Closing
in accordance with Section 3, which Convertible Notes shall bear interest at a
rate of 10.0% per annum from the date of issue, payable quarterly.

(b)
The definition of “Warrants” in Section 1 of the Subscription Agreement is
hereby amended and restated in its entirety to read as follows:

“Warrants” means, collectively, the Common Stock purchase warrants (as amended
and restated January 6, 2020) delivered to the Investor at the Closing in
accordance with Section 3 hereof, which Warrants shall be exercisable for a
period of 24 months from the date of the consummation of an IPO (as defined in
the Convertible Notes), substantially in the form attached hereto as Exhibit B.

2.          No Further Effect.  Except as amended hereby, all terms and
provisions of the Subscription Agreement shall remain in full force and effect,
and are hereby ratified and confirmed by the Parties. All references in the
Subscription Agreement to “this Agreement,” “herein,” “hereof,” “hereby” and
words of similar import shall refer to the Subscription Agreement, as amended
hereby.  In the event of any conflict between the provisions of this Amendment
and the Subscription Agreement, the provisions of this Amendment shall control.

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3.          Counterparts.  This Amendment may be executed in any number of
counterparts, each of which will be deemed an original, but all of which
together will constitute one and the same instrument.  A signature delivered by
facsimile, pdf, electronic mail or other electronic means shall be considered
due execution and shall be binding upon the signatory thereto with the same
force and effect as if the signature were an original.  The Parties shall not
raise the use of facsimile machine, pdf, electronic mail or other electronic
means to deliver a signature or the fact that any signature was transmitted or
communicated through the use of a facsimile machine, pdf, electronic mail or
other electronic means as a defense to the formation or enforceability of a
contract and each of the Parties forever waives any such defense.

4.          Governing Law.  This Amendment shall be governed by and construed in
accordance with the laws of the State of New York, as applied to contracts made
and performed within the State of New York, without regard to principles of
conflicts of law.

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

 
COMPANY:
     
BETTER CHOICE COMPANY INC.
     
By:
   
Name:
Damian Dalla-Longa
 
Title:
Chief Executive Officer

[Signature Page to First Amendment to Subscription Agreement]

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

 
INVESTOR:
     
By:
 

[Signature Page to First Amendment to Subscription Agreement]

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