Exhibit 10.64


 


STOCK PURCHASE AGREEMENT


 


THIS STOCK PURCHASE AGREEMENT (this "Agreement"),
dated as of June 2, 2015, is entered into between Twinlab Consolidated Holdings, Inc., a Nevada corporation with its principal
place of business at 632 Broadway, Suite 201, New York, New York 10012 ("Company"), and Little Harbor, LLC, a
Nevada limited liability company with an address at 3133 Orchard Vista Drive SE, Grand Rapids, MI 49546 ("Purchaser").


 


RECITALS


 


A.           Company
and Purchaser are executing and delivering this Agreement in reliance upon the exemption from securities registration afforded
by Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and Rule 506 of Regulation
D (“Regulation D”) as promulgated by the United States Securities and Exchange Commission (the “Commission”)
under the Securities Act.


 


B.           Purchaser
wishes to purchase, and Company wishes to sell, upon the terms and conditions stated in this Agreement, an aggregate of 3,289,474
shares of common stock, par value $0.001 per share (the “Common Stock”), of Company, at a purchase price of
$0.76 per share (the 3,289,474 shares of Common Stock to be purchased by Purchaser hereunder are referred to herein as the “Shares”).


 


C.           Contemporaneously
with the execution and delivery of this Agreement, the parties hereto are executing and delivering a Warrant Agreement, substantially
in the form attached hereto as Exhibit A (the “First Warrant Agreement”), pursuant to which, among other things,
Company is granting Purchaser the right to purchase an additional 3,289,474 shares of Common Stock at a price of $0.01 per share.


 


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


 


1.           Purchase
and Sale. Subject to the terms and conditions set forth herein, at the Closing (as defined in Section 2), Company shall
issue and sell to Purchaser, and Purchaser shall purchase from Company, the Shares. The aggregate purchase price for the Shares
shall be $2,500,000.24 (the "Purchase Price"), to be provided by Purchaser in the form of Purchaser’s agreements
set forth in Section 3 hereof.


 




    	 



    	 



    

 


2.          Closing.
Subject to the terms and conditions contained in this Agreement, the purchase and sale of the Shares contemplated hereby shall
take place at a closing (the "Closing") to be held at 10:00 a.m. on June 2, 2015 (the "Closing Date")
at the offices of Wilk Auslander LLP, 1515 Broadway, 43rd Floor, New York, New York 10036, or at such other place or
on such other date as Purchaser and Company may mutually agree upon in writing. At the Closing, Company shall deliver to Purchaser
a stock certificate or certificates evidencing the Shares, and Purchaser shall have delivered to Company the Purchase Price in
the form of Purchaser’s irrevocable agreement provided in Section 3 below to accept the Shares issued by the Company
pursuant hereto in lieu of $2,500,000.24 worth of periodic payments otherwise due Purchaser under that certain Debt Repayment Agreement,
dated as of July 31, 2014, by and between Purchaser and the Company’s subsidiary Twinlab Holdings, Inc. (formerly known as
“Idea Sphere Inc.”) (the “Repayment Agreement”).


 


3.          Agreement
to Accept Shares in Lieu of Payments under Repayment Agreement. Purchaser hereby irrevocably agrees to accept the Shares issued
to Purchaser by Company pursuant to this Agreement in lieu and in complete satisfaction of the obligation of the Company’s
subsidiary Twinlab Holdings, Inc. to make periodic cash payments otherwise due Purchaser under the Repayment Agreement in an aggregate
amount equal to the Purchase Price, beginning with the periodic payment that was due under the Repayment Agreement on April 25,
2015 and continuing with each immediately subsequent periodic payment thereafter due under the Repayment Agreement until the total
amount of periodic payment obligations so satisfied shall have amounted to $2,500,000.24. In the event that the remainder of the
aggregate Purchase Price then available to be applied pursuant hereto towards a final periodic payment under the Repayment Agreement
is insufficient to satisfy the entire amount due for such period under the Repayment Agreement, then the excess amount then due
for such periodic payment above the amount satisfied hereby shall continue to be due and payable in cash by Twinlab Holdings, Inc.
in accordance with the terms of the Repayment Agreement. Except for Purchaser’s agreement, on the terms set forth herein,
to accept the Shares issued pursuant to this Agreement in lieu of cash payments otherwise due Purchaser under the Repayment Agreement
in an aggregate amount equal to the Purchase Price, nothing herein is intended to modify in any way the Repayment Agreement, which
shall remain in full force and effect.


 


4.          Closing
Deliveries.


 


(a)          On
or prior to the Closing, Company shall issue, deliver or cause to be delivered to Purchaser the following:


 


(i)          this
Agreement, duly executed by Company; and


 


(ii)         the
First Warrant Agreement, duly executed by Company.


 




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(b)          On
or prior to the Closing, Purchaser shall deliver or cause to be delivered to Company the following:


 


(i)          this
Agreement, duly executed by Purchaser


 


5.           Closing
Conditions.


 


(a)          The
obligation of Company to issue and sell the Shares to Purchaser hereunder is subject to the satisfaction of the following conditions
as of the Closing:


 


(i)          the
representations and warranties of Purchaser in Section 7 hereof shall be true and correct on and as of the Closing Date
with the same effect as though made at and as of such date;


 


(ii)         Purchaser
shall have performed and complied in all material respects with all agreements and conditions required by this Agreement to be
performed or complied with by it prior to or on the Closing Date; and


 


(iii)        Purchaser
shall have obtained any and all consents, permits, approvals, registrations and waivers necessary or appropriate for consummation
of the transactions contemplated herein.


 


(b)          The
obligation of Purchaser to purchase the Shares from Company is subject to the satisfaction of the following conditions as of the
Closing:


 


(i)          the
representations and warranties of Company in Section 6 shall be true and correct on and as of the Closing Date with the
same effect as though made at and as of such date;


 


(ii)         Company
shall have performed and complied in all material respects with all agreements and conditions required by this Agreement to be
performed or complied with by it prior to or on the Closing Date; and


 


(iii)        Company
shall have obtained any and all consents, permits, approvals, registrations and waivers necessary or appropriate for consummation
of the transactions contemplated herein.


 


6.           Representations
and Warranties of Company. Company hereby represents and warrants to Purchaser as follows:


 




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(a)          Company
is an entity duly incorporated, validly existing and in good standing under the laws of the State of Nevada, with the requisite
corporate power and authority to own or lease and use its properties and assets and to carry on its business as currently conducted.
Company is not in violation of any of the provisions of its articles of incorporation or bylaws. Company is duly qualified to conduct
business and is in good standing as a foreign corporation or other entity in each jurisdiction in which the nature of the business
conducted or property owned by it makes such qualification necessary, except where the failure to be so qualified or in good standing,
as the case may be, would not have a Material Adverse Effect. “Material Adverse Effect” means a material adverse
effect on the results of operations, assets, business or financial condition of Company, except that any of the following, either
alone or in combination, shall not be deemed a Material Adverse Effect: (i) effects caused by changes or circumstances affecting
general market conditions in the U.S. economy or which are generally applicable to the industry in which Company operates provided
that such effects are not borne disproportionately by Company, (ii) effects resulting from or relating to the announcement or disclosure
of the sale of the Shares or other transactions contemplated by this Agreement, or (iii) effects caused by any event, occurrence
or condition resulting from or relating to the taking of any action in accordance with this Agreement.


 


(b)          Company
has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by this Agreement
and otherwise to carry out its obligations hereunder. The execution and delivery of this Agreement by the Company and the consummation
by it of the transactions contemplated hereby (including, but not limited to, the sale and delivery of the Shares) have been duly
authorized by all necessary corporate action on the part of Company, and no further corporate action is required by Company, its
Board of Directors or its stockholders in connection therewith other than in connection with the Required Approvals (as hereinafter
defined). This Agreement has been duly executed by the Company and is the legal, valid and binding obligation of the Company enforceable
against Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium, liquidation or similar laws relating to, or affecting generally the enforcement of, creditors’
rights and remedies or by other equitable principles of general application or insofar as indemnification and contribution provisions
may be limited by applicable law.


 


(c)          The
execution, delivery and performance by Company of this Agreement and the consummation by Company of the transactions contemplated
hereby (including, without limitation, the issuance of the Shares) do not and will not (i) conflict with or violate any provisions
of Company’s articles of incorporation or bylaws or otherwise result in a violation of the organizational documents of Company,
(ii) conflict with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under,
result in the creation of any Encumbrance upon any of the properties or assets of Company or give to others any rights of termination,
amendment, acceleration or cancellation (with or without notice, lapse of time or both) of, any Material Contract or (iii) subject
to the Required Approvals, result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction
of any court or governmental authority to which Company is subject (including federal and state securities laws and regulations
and the rules and regulations, assuming the correctness of the representations and warranties made by Purchaser herein, of any
self regulatory organization to which Company or its securities are subject), or by which any property or asset of Company is bound
or affected), except in the case of clause (ii) and clause (iii) such as would not individually have a Material Adverse
Effect. “Material Contract” means any contract of Company that has been
filed as an exhibit to the SEC Reports pursuant to Item 601(b)(4) or Item 601(b)(10) of Regulation S-K (including, for purposes
hereof, any contracts that are required to be filed as an exhibit to a Form 10).


 




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(d)          Company
is not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or registration
with, any court or other federal, state, local or other governmental authority or other Person in connection with the execution,
delivery and performance by Company of the Transaction Documents (including the issuance of the Securities), other than (i) the
filing with the Commission of one or more Registration Statements in accordance with the requirements of the Registration Rights
Agreement, (ii) filings required by applicable state securities laws, (iii) the filing of a Notice of Sale of Securities
on Form D with the Commission under Regulation D of the Securities Act, (iv) a report on Form 8-K disclosing the
Company’s entry into this Agreement and (v) those that have been made or obtained prior to the date of this Agreement
(collectively, the “Required Approvals”).


 


(e)          The
Shares have been duly authorized and, when issued and paid for in accordance with the terms of this Agreement, will be duly and
validly issued, fully paid and nonassessable and free and clear of all Encumbrances suffered or permitted by Company, other than
restrictions on transfer provided for in this Agreement or imposed by applicable securities laws, and shall not be subject to preemptive
or similar rights. Assuming the accuracy of the representations and warranties of Purchaser in this Agreement, the Shares will
be issued in compliance with all applicable federal and state securities laws.


 


(f)          There
are no actions, suits, claims, investigations or other legal proceedings pending or, to the Company’s knowledge, threatened
against or by Company that challenge or seek to prevent, enjoin or otherwise delay the transactions contemplated by this Agreement.
“Company’s Knowledge” means with respect to any statement made to the knowledge of Company, that the statement
is based upon the actual knowledge of the officers of Company who, as of the date hereof, have responsibility for the matter or
matters that are the subject of the statement.


 


(g)          Company
has filed all reports, schedules, forms, statements and other documents required to be filed by it under the Securities Exchange
Act of 1934, as amended (the “Exchange Act”), including pursuant to Section 13(a) or 15(d) thereof, for twelve
(12) months preceding and including the date hereof (or such shorter period as Company was required by law or regulation to
file such material) (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein, being
collectively referred to herein as the “SEC Reports”), on a timely basis or has received a valid extension of such
time of filing and has filed any such SEC Reports prior to the expiration of any such extension.


 




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(h)          The
financial statements of Company included in the SEC Reports comply in all material respects with applicable accounting requirements
and the rules and regulations of the Commission with respect thereto as in effect at the time of filing. Such financial statements
have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) applied on a consistent
basis during the periods involved, except as may be otherwise specified in such financial statements or the notes thereto and except
that unaudited financial statements may not contain all footnotes required by GAAP, and fairly present in all material respects
the financial position of Company and its consolidated subsidiaries taken as a whole as of and for the dates thereof and the results
of operations and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal, year-end audit
adjustments.


 


(i)          Assuming
the accuracy of Purchaser’s representations and warranties set forth in Section 7 of this Agreement (without giving effect
to any materiality qualifiers therein), no registration under the Securities Act is required for the offer and sale of the Securities
by Company to Purchaser under this Agreement.


 


(j)          No
broker, finder or investment banker is entitled to any brokerage, finder's or other fee or commission in connection with the transactions
contemplated by this Agreement based upon arrangements made by or on behalf of Company.


 


7.           Representation
and Warranties of Purchaser.


 


(a)          Purchaser
is a limited liability company duly organized, validly existing and in good standing under the laws of the State of Nevada.


 


(b)          Purchaser
has all requisite power and authority to enter into this Agreement, to carry out its obligations hereunder and to consummate the
transactions contemplated hereby. The execution and delivery by Purchaser of this Agreement, the performance by Purchaser of its
obligations hereunder and the consummation by Purchaser of the transactions contemplated hereby have been duly authorized by all
requisite limited liability company action on the part of Purchaser. This Agreement has been duly executed and delivered by Purchaser
and (assuming due authorization, execution and delivery by Company) this Agreement constitutes a legal, valid and binding obligation
of Purchaser enforceable against Purchaser in accordance with its terms.


 


(c)          Purchaser
is acquiring the Shares solely for its own account for investment purposes and not with a view to, or for offer or sale in connection
with, any distribution thereof. Purchaser acknowledges that the Shares are not registered under the Securities Act, or any state
securities laws, and that the Shares may not be transferred or sold except pursuant to the registration provisions of the Securities
Act or pursuant to an applicable exemption therefrom and subject to state securities laws and regulations, as applicable.


 




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(d)          No
governmental, administrative or other third party consents or approvals are required by or with respect to Purchaser in connection
with the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby.


 


(e)          There
are no actions, suits, claims, investigations or other legal proceedings pending or, to the knowledge of Purchaser, threatened
against or by Purchaser that challenge or seek to prevent, enjoin or otherwise delay the transactions contemplated by this Agreement.


 


(f)          Purchaser
understands that the Shares are “restricted securities” and have not been registered under the Securities Act or any
applicable state securities law and is acquiring the Shares as principal for its own account and not with a view to, or for distributing
or reselling such Shares or any part thereof in violation of the Securities Act or any applicable state securities laws, provided,
however, that by making the representations herein, Purchaser does not agree to hold any of the Shares for any minimum period
of time and reserves the right, subject to the provisions of this Agreement, at all times to sell or otherwise dispose of all or
any part of such Shares pursuant to an effective registration statement under the Securities Act or under an exemption from such
registration and in compliance with applicable federal and state securities laws. Purchaser is acquiring the Shares hereunder in
the ordinary course of its business. Purchaser does not presently have any agreement, plan or understanding, directly or indirectly,
with any Person to distribute or effect any distribution of any of the Shares (or any Shares which are derivatives thereof) to
or through any person or entity; Purchaser is not a registered broker-dealer under Section 15 of the Exchange Act or an entity
engaged in a business that would require it to be so registered as a broker-dealer.


 


(g)          At
the time Purchaser was offered the Shares, it was, and at the date hereof it is, an “accredited investor” as defined
in Rule 501(a) under the Securities Act. Purchaser has previously delivered an Accredited Investor Questionnaire to Company indicating
that Purchaser is an “accredited investor.” As of the date of this Agreement, circumstances have not changed such that
Purchaser would not be an “accredited investor.”


 


(h)          Purchaser,
either alone or together with its representatives, has such knowledge, sophistication and experience in business and financial
matters so as to be capable of evaluating the merits and risks of the prospective investment in the Shares, and has so evaluated
the merits and risks of such investment. Purchaser is able to bear the economic risk of an investment in the Shares and, at the
present time, is able to afford a complete loss of such investment.


 




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(i)          Purchaser
acknowledges that it has been afforded (i) the opportunity to ask such questions as it has deemed necessary of, and to receive
answers from, representatives of Company concerning the terms and conditions of the offering of the Shares and the merits and risks
of investing in the Shares; (ii) access to information about Company and its respective financial condition, results of operations,
business, properties, management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity
to obtain such additional information that Company possesses or can acquire without unreasonable effort or expense that is necessary
to make an informed investment decision with respect to the investment. Neither such inquiries nor any other investigation conducted
by or on behalf of Purchaser or its representatives or counsel shall modify, amend or affect Purchaser’s right to rely on
the truth, accuracy and completeness of Company’s representations and warranties contained in this Agreement. Purchaser has
sought such accounting, legal and tax advice as it has considered necessary to make an informed decision with respect to its acquisition
of the Shares.


 


(j)          Purchaser
understands that the Shares are being offered and sold to it in reliance on specific exemptions from the registration requirements
of United States federal and state securities laws and that Company is relying in part upon the truth and accuracy of, and Purchaser’s
compliance with, the representations, warranties, agreements, acknowledgements and understandings of Purchaser set forth herein
in order to determine the availability of such exemptions and the eligibility of Purchaser to acquire the Shares.


 


(k)          Purchaser
understands that no United States federal or state agency or any other government or governmental agency has passed on or made
any recommendation or endorsement of the Shares or the fairness or suitability of the investment in the Shares nor have such authorities
passed upon or endorsed the merits of the offering of the Shares.


 


(l)          No
broker, finder or investment banker is entitled to any brokerage, finder's or other fee or commission in connection with the transactions
contemplated by this Agreement based upon arrangements made by or on behalf of Purchaser.


 


8.           Transfer
Restrictions.


 


(a)          
Notwithstanding any other provision of this Agreement, Purchaser covenants that the Shares may be disposed of only pursuant to
an effective registration statement under, and in compliance with the requirements of, the Securities Act, or pursuant to an available
exemption from, or in a transaction not subject to, the registration requirements of the Securities Act, and in compliance with
any applicable state and federal securities laws. In connection with any transfer of the Shares other than (i) pursuant to
an effective registration statement, (ii) to Company, (iii) to an Affiliate of Purchaser, (iv) pursuant to Rule 144
under the Securities Act (“Rule 144”) (provided that Purchaser provides Company with reasonable assurances
(in the form of seller and broker representation letters if required) that the securities may be sold pursuant to such rule) or
Rule 144A, (v) pursuant to Rule 144 without the requirement that Company be in compliance with the current public information
requirements of Rule 144 and without other restriction following the applicable holding period or (vi) in connection
with a bona fide pledge, Company may require the transferor thereof to provide to Company an opinion of counsel selected by the
transferor and reasonably acceptable to Company, the form and substance of which opinion shall be reasonably satisfactory to Company,
to the effect that such transfer does not require registration of such transferred Shares under the Securities Act. As a condition
of transfer, any such transferee shall agree in writing to be bound by the terms of this Agreement and shall have the rights of
Purchaser under this Agreement.


 




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(b)          Certificates
evidencing the Shares shall bear any legend as required by the “Blue Sky” laws of any state and a restrictive legend
in substantially the following form until such time as they are not required under Section 8(c) (and a stock transfer order
may be placed against transfer of the certificates for the Shares):


 


THESE SECURITIES HAVE
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR APPLICABLE
STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF (A) AN EFFECTIVE
REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OR (B) AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT
SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED
BY A LEGAL OPINION OF COUNSEL REASONABLY SATISFACTORY TO COMPANY.


 


In addition, if Purchaser
is an Affiliate of Company, certificates evidencing the Shares issued to Purchaser shall bear a customary “affiliates”
legend.


 


(c)          Subject
to Company’s right to request an opinion of counsel as set forth in Section 8(a), the legend set forth in Section 8(b)
above shall be removable and Company shall issue or cause to be issued a certificate without such legend or any other legend (except
for any “affiliates” legend as set forth in Section 8(b)) to the holder of the applicable Shares upon which it is stamped
if (i) such Shares are registered for resale under the Securities Act (provided that, if Purchaser is selling pursuant to
the effective registration statement registering the Shares for resale, Purchaser agrees to only sell such Shares during such time
that such registration statement is effective and not withdrawn or suspended, and only as permitted by such registration statement),
(ii) such Shares are sold or transferred in compliance with Rule 144 (if the transferor is not an Affiliate of Company), including
without limitation in compliance with the current public information requirements of Rule 144 if applicable to Company at the time
of such sale or transfer, and the holder and its broker have delivered customary documents reasonably requested by Company’s
transfer agent and/or Company counsel in connection with such sale or transfer, or (iii) such Shares are eligible for sale under
Rule 144 without the requirement that Company be in compliance with the current public information requirements of Rule 144 and
without other restriction and Company counsel has provided written confirmation of such eligibility to the transfer agent. Any
fees (with respect to the transfer agent, Company counsel or otherwise) associated with the removal of such legend shall be borne
by Company. At such time as a legend is no longer required for certain Shares, Company will no later than three (3) Business
Days following the delivery by Purchaser to Company or the transfer agent (with concurrent notice and delivery of copies to Company)
of a legended certificate representing such Shares (endorsed or with stock powers attached, signatures guaranteed, and otherwise
in form necessary to affect the reissuance and/or transfer, and together with such other customary documents as the transfer agent
and/or Company counsel shall reasonably request), deliver or cause to be delivered to the transferee of Purchaser or Purchaser,
as applicable, a certificate representing such Shares that is free from all restrictive and other legends. Company may not make
any notation on its records or give instructions to the transfer agent that enlarge the restrictions on transfer set forth in this
Section 8(c).


 




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(d)          Purchaser
hereunder acknowledges its primary responsibilities under the Securities Act and accordingly will not sell or otherwise transfer
the Shares or any interest therein without complying with the requirements of the Securities Act. Purchaser acknowledges that the
delivery of the Shares and any removal of any legends from certificates representing the Shares as set forth in this Section 8
is predicated on Company’s reliance upon Purchaser’s acknowledgement in this Section 8(d).


 


9.            Survival.
All representations and warranties contained herein shall survive the execution and delivery of this Agreement and the Closing
hereunder.


 


10.          Indemnification.
Company shall indemnify Purchaser and hold Purchaser harmless against and in respect of any and all losses, liabilities, damages,
obligations, claims, Encumbrances, costs and expenses (including, without limitation, reasonable attorneys' fees) incurred by Purchaser
resulting from any breach of any representation, warranty, covenant or agreement made by Company herein or in any instrument or
document delivered to Purchaser pursuant hereto.


 


11.          Further
Assurances. Following the Closing, each of the parties hereto shall execute and deliver such additional documents, instruments,
conveyances and assurances, and take such further actions as may be reasonably required to carry out the provisions hereof and
give effect to the transactions contemplated by this Agreement.


 


12.          Termination.
This Agreement may be terminated at any time prior to the Closing (a) by the mutual written consent of Purchaser and Company or
(b) by either Purchaser or Company if (i) a breach of any provision of this Agreement has been committed by the other party and
such breach has not been cured within 10 days following receipt by the breaching party of written notice of such breach, or (ii)
the Closing does not occur by July 1, 2015. Upon termination, all further obligations of the parties under this Agreement shall
terminate without liability of any party to the other parties to this Agreement, except that no such termination shall relieve
any party from liability for any fraud or willful breach of this Agreement.


 




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13.         Expenses.
All costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the
party incurring such costs and expenses.


 


14.         Notices.
All notices, requests, consents, claims, demands, waivers and other communications hereunder (each, a "Notice")
shall be in writing and addressed to the parties at the addresses set forth on the first page of this Agreement (or to such other
address that may be designated by the receiving party from time to time in accordance with this section). All Notices shall be
delivered by personal delivery, nationally recognized overnight courier (with all fees pre-paid), facsimile or e-mail of a PDF
document (with confirmation of transmission) or certified or registered mail (in each case, return receipt requested, postage prepaid).
Except as otherwise provided in this Agreement, a Notice is effective only (a) upon receipt by the receiving party, and (b) if
the party giving the Notice has complied with the requirements of this Section.


 


15.         Entire
Agreement. This Agreement constitutes the sole and entire agreement of the parties to this Agreement with respect to the subject
matter contained herein, and supersedes all prior and contemporaneous understandings, agreements, representations and warranties,
both written and oral, with respect to such subject matter.


 


16.         Successor
and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective
successors and permitted assigns. No party may assign any of its rights or obligations hereunder without the prior written consent
of the other parties hereto, which consent shall not be unreasonably withheld or delayed.


 


17.         Headings.
The headings in this Agreement are for reference only and shall not affect the interpretation of this Agreement.


 


18.         Amendment
and Modification; Waiver. This Agreement may only be amended, modified or supplemented by an agreement in writing signed by
each party hereto. No waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth in writing
and signed by the party so waiving. Except as otherwise set forth in this Agreement, no failure to exercise, or delay in exercising,
any rights, remedy, power or privilege arising from this Agreement shall operate or be construed as a waiver thereof; nor shall
any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof
or the exercise of any other right, remedy, power or privilege.


 




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19.         Severability.
If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality
or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term
or provision in any other jurisdiction. Upon such determination that any term or other provision is invalid, illegal or unenforceable,
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 a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally
contemplated to the greatest extent possible.


 


20.         Governing
Law; Submission to Jurisdiction. This Agreement shall be governed by and construed in accordance with the internal laws of
the State of New York without giving effect to any choice or conflict of law provision or rule (whether of the State of New York
or any other jurisdiction). Any legal suit, action or proceeding arising out of or based upon this Agreement or the transactions
contemplated hereby may be instituted in the federal courts of the United States or the courts of the State of New York in each
case located in the city of New York and County of New York, and each party irrevocably submits to the exclusive jurisdiction of
such courts in any such suit, action or proceeding. Service of process, summons, notice or other document by mail to such party's
address set forth herein shall be effective service of process for any suit, action or other proceeding brought in any such court.
The parties irrevocably and unconditionally waive any objection to the laying of venue of any suit, action or any proceeding in
such courts and irrevocably waive and agree not to plead or claim in any such court that any such suit, action or proceeding brought
in any such court has been brought in an inconvenient forum.


 


21.         Counterparts.
This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be deemed
to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, e-mail or other means of electronic transmission
shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.


 


[SIGNATURE PAGE FOLLOWS]


 




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IN WITNESS WHEREOF, the parties hereto have executed this Agreement
on the date first written above.


 


	 	TWINLAB CONSOLIDATED HOLDINGS, INC.
	 	 
	 	By:	/s/ Thomas A. Tolworthy	 
	 	Name:	Thomas A. Tolworthy
	 	Title:	Chief Executive Officer and President
	 	 	 
	 	LITTLE HARBOR LLC
	 	 
	 	By:	/s/ Mark J. Bugge	 
	 	Name:	Mark J. Bugge
	 	Title:	Secretary & Treasurer


 




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