Exhibit 10.1

EXTENSION AGREEMENT

This Extension Agreement, made effective as of May 15, 2014 (the “Agreement”),
is between Innovative Food Holdings, Inc., a Florida corporation (the “Company”)
and the signatories hereto (each, a “Subscriber” and collectively, the
“Subscribers”).

WHEREAS, the Company has issued notes, as amended to date, as further described
on Schedule A hereto (the “Notes”) and warrants, as amended to date (the
“Warrants”); and

WHEREAS, the Company and the Subscribers have agreed to make certain changes to
the terms of the Notes and Warrants; and

WHERAS, simultaneously herewith the Company and Alpha Capital Anstalt have
entered into a Leakout Agreement.

NOW THEREFORE, in consideration of the promises and mutual covenants contained
herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby consent
and agree as follows:

1. Effective on the date hereof (i) the interest rate on the Notes is modified
to be at a rate of 1.9% per annum and (ii) provided such interest has not
previously been converted by a Subscriber, such interest shall be payable, at
the discretion of the Company, in cash or stock as per the term of each Note, or
accrued until the Maturity Date.  Default interest shall be as stated in the
Notes.

2. The Maturity Date of each Note is hereby amended to December 31, 2015,
provided that at the discretion of the Company, the Notes may be extended beyond
such date up to an additional three months under the same terms. If the Note is
extended, the terms of the Leakout Agreement in Exhibit A shall apply for the
length of the extension.

3. Except as permitted herein, the Notes may not be prepaid without the
permission of the Subscribers.

4. The Notes and the principal and interest represented thereby, and any rights
related thereto, which includes the convertibility feature and the underlying
stock, as well as the Warrants, and any rights related thereto, cannot be
transferred without the written consent of the Company.

5. Payments of interest first and then principal (after all interest has been
paid) accrued under those Notes listed on Schedule B may be prepaid, in the
Company’s discretion, as follows:

(i)    up to $5,500 per month with respect to interest on the Notes listed on
Schedule B hereto;
(ii)   up to an additional $10,000 per month of the interest and then principal
on the Notes listed on Schedule B hereto; if the prior month’s total trading
volume exceeded 2,000,000 shares; and
(iii)  up to a further additional $5,000 per month of the interest and then
principal on the Notes listed on Schedule B hereto;  if the prior month’s total
trading volume exceeded 3,000,000 shares.

6.  To the extent any of the Subscribers have any rights of first refusal to
participate in any financings of the Company, each Subscriber hereby permanently
and irrevocably waives any of such rights.

7.      In the event the Company enters into a material acquisition, merger or
consolidation transaction and reducing the amount of the outstanding Notes
becomes a key factor to closing the transaction, the Company can require the
each Subscriber to immediately convert into equity an amount of outstanding
principle and interest as would cause the Subscriber to own up to, but not
exceed, 6.5% of the Company’s outstanding common stock including all shares then
held by the Subscribers.

8.      In the event any of the Subscribers takes action to cause the Company to
be in default under the terms of any Note or Warrant, any restrictions or
limitations on the Company’s ability to prepay the Notes is hereby waived and
the Company may, at any time thereafter, satisfy its obligations under the Notes
in full by paying all outstanding interest and principle without prepayment
penalty.
 
 
 

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9. All other terms of, and definitions used in, the Transaction Documents (the
Notes, Warrants, Subscription Agreements Extension Agreements and all other
related documents between the Company and a Subscriber) remain in full force and
effect (including the terms of any amendments not specifically superseded by
this Agreement) as if this Agreement had not been executed.

10. This Agreement may be executed in counterparts, all of which when taken
together shall be considered one and the same Agreement and shall become
effective when counterparts have been signed by each party and delivered to the
other party, it being understood that all parties need not sign the same
counterpart.  In the event that any signature is delivered by facsimile
transmission, such signature shall create a valid and binding obligation of the
party executing (or on whose behalf such signature is executed) the same with
the same force and effect as if such facsimile signature were an original
thereof.  A copy of this Agreement annexed to the Note or the Warrant, as
appropriate, shall be sufficient to reflect the amendment thereto.

[THIS SPACE INTENTIONALLY LEFT BLANK]
 
 

 
 

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IN WITNESS WHEREOF, the parties hereby execute this Agreement as of the date
first written above.

INNOVATIVE FOOD HOLDINGS, INC.

By: _______________________________________

ALPHA CAPITAL ANSTALT

By: _______________________________________

LANE VENTURES, INC

By: _______________________________________

MOMONA CAPITAL LLC

By: _______________________________________

OSHER CAPITAL PARTNERS LLC

By: _______________________________________

ASSAMEKA CAPITAL, INC.

By: _______________________________________

__________________________________________
ASHER BRAND