CONSULTING AGREEMENT


 


CONSULTING AGREEMENT
(this “Agreement”), dated as of June 28, 2012, by and between Skinny Nutritional Corp., a Nevada corporation (the “Company”)
and Marc Cummins (the “Consultant”).


 


WHEREAS, the Company
desires to receive financial, management and general business consulting services from Consultant, and thereby obtain the benefit
of the experience of Consultant in business and financial management; and


 


WHEREAS, Consultant is
willing to provide financial, management and general business consulting services to the Company.


 


NOW, THEREFORE, in consideration
of the foregoing premises and the respective agreements hereinafter set forth and the mutual benefits to be derived herefrom, Consultant
and the Company hereby agree as follows:


 


1.           Engagement.
The Company hereby engages Consultant as a financial, management and general business consultant, and Consultant hereby agrees
to provide financial, management and general business consulting services to the Company, all on the terms and subject to the conditions
set forth below.


 


2.           Services
of Consultant. Consultant hereby agrees during the Term (as hereinafter defined) to consult with and assist the Company’s
Board of Directors (the “Board”) and management of the Company in such manner and on such financial, management and
general business matters as may be reasonably requested from time to time by the Board or the Chief Executive Officer of the Company
(the “Services”). The scheduling of the performance of the Services by the Company and Consultant shall be flexible
and mutually agreeable between the Company and Consultant. The Services to be provided by Consultant may be provided by telephone
or other remote communication unless Consultant agrees otherwise.


 


3.           Compensation.
The Company agrees to pay to Consultant as compensation for the Services a monthly consulting fee of $10,000 during the Term (the
“Monthly Fee”), payable on the first day of each month in advance, provided that the first such payment shall be made
on the date hereof in an amount equal to $1,000, which represents a pro rata portion of the Monthly Fee for the current month.


 


4.           Expenses.
All ordinary and necessary out-of-pocket expenses incurred by Consultant in connection with the performance of the Services, including
reasonable travel expenses, shall be reimbursed to Consultant by the Company upon presentation of an itemized invoice, together
with supporting receipts, for such expenses.


 


5.           Term.
This Agreement shall commence on the date hereof and shall continue in effect until the Convertible Senior Bridge Notes issued
to Trim Capital LLC have been paid in full or converted in accordance with their terms; provided, that, the term of Consultant’s
engagement hereunder may be terminated by Consultant at any time and without liability or continuing obligation to the Company
or to Consultant (except as provided below) upon written notice to the Company (the period when this Agreement is in effect is
herein referred to as the “Term”). No termination of this Agreement, whether pursuant to this paragraph or otherwise,
shall affect (i) the Company’s obligations with respect to the fees, costs and expenses incurred by Consultant in rendering
the Services hereunder and not reimbursed by the Company as of the effective date of such termination, or (ii) the respective obligations
of the parties under Sections 6 and 8 hereof.


 



    	 



    	 



    

  


6.           Indemnification.
The Company agrees to indemnify and hold harmless Consultant and his successors, assigns, agents, representatives and affiliates
(collectively, the “Indemnified Parties”), from and against any losses, claims, damages and liabilities, joint or several,
related to or arising in any manner out of any transaction, proposal or any other matter (collectively, the “Matters”)
contemplated by the engagement of Consultant hereunder. The Company also will promptly reimburse the Indemnified Parties for all
reasonable expenses (including fees and expenses of legal counsel) as incurred in connection with the investigation of, preparation
for or defense of any pending or threatened claim related to or arising in any manner out of any Matter relating to the Company
or the engagement of Consultant hereunder (collectively, “Proceedings”). Notwithstanding the foregoing, the Company
shall not be liable in respect of any losses, claims, damages, liabilities or expenses that a court of competent jurisdiction shall
have determined by final judgment resulted solely from the gross negligence or willful misconduct of an Indemnified Party. The
Company agrees that the indemnification and reimbursement commitments set forth in this Section 6 shall apply whether or not such
Indemnified Party is a formal party to any such Proceeding. The Company further agrees that it will not, without the prior written
consent of Consultant, settle, compromise or consent to the entry of any judgment in any pending or threatened Proceeding in respect
of which indemnification may be sought hereunder (whether or not Consultant or any Indemnified Party is an actual or potential
party to such Proceeding), unless such settlement, compromise or consent includes an unconditional release of Consultant and each
other Indemnified Party hereunder from all liability arising out of such Proceeding.


 


7.           Consultant
an Independent Contractor. Consultant and the Company agree that, Consultant shall perform the Services as an independent contractor.
Consultant shall not be considered an agent or employee of the Company nor shall Consultant have authority to contract in the name
of or bind the Company (other than those officers, directors and employees who are serving as directors of the Company as expressly
authorized by the Board), except as expressly agreed to in writing by the Company.


 


8.           Information
Provided to Consultant; Confidentiality.


 


(a)           The
Company recognizes and confirms that Consultant in acting pursuant to this engagement will be using information in reports and
other information provided by others, including, without limitation, information provided by the Company and potential acquisition
candidates, and that Consultant does not assume responsibility for and may rely, without independent verification, on the accuracy
and completeness of any such reports and information.


 


(b)           The
Company agrees that any information or advice rendered by Consultant in connection with this engagement is for the confidential
use of the Board and management of the Company only and, except as otherwise required by law, the Company will not and will not
permit any third party to disclose or otherwise refer to such advice or information in any manner without Consultant’s prior
written consent.


 



    	2



    	 



    

  


(c)           Consultant
hereby agrees to keep confidential and not to disclose to any unrelated third party, except as required by law, regulation or legal
process, all information (the “Information”) regarding the Company provided by the Company to Consultant. The term
“Information” shall not include information which (i) is or becomes publicly available other than as a result of disclosure
by Consultant, (ii) is or becomes available to Consultant from a source not known by Consultant to be bound by a confidentiality
agreement with the Company or (iii) was in Consultant’s possession prior to its being furnished to Consultant by the Company.
In the event that Consultant is requested or required (by oral questions, interrogatories, requests for information or documents,
subpoena, civil investigative demand or other process) to disclose any Information, Consultant will provide the Company with prompt
notice of any such request or requirement so that the Company may seek an appropriate protective order or waive compliance with
this Agreement.


 


9.           Notices.
Any notice, report or payment required or permitted to be given or made under this Agreement by one party to the other shall be
deemed to have been duly given or made when delivered, if personally delivered, when transmitted, if sent by confirmed facsimile
transmission, or, if mailed, five days after being mailed by registered or certified mail, return receipt requested, postage prepaid
to the party at the following addresses (or at such other address as shall be given in writing by one party to the other):


 


If to Consultant:


 


Marc Cummins


c/o Prime Capital, LLC


135 East 57th Street, 11th Floor


New York, NY 10022


 


If to the Company:


 


Skinny Nutritional Corp.

3 Bala Plaza East, Suite 101

Bala Cynwyd, PA 19004


Attention: Michael Salaman, CEO


 


10.         Entire
Agreement; Modification. This Agreement (a) contains the complete and entire understanding and agreement of the Company and
Consultant with respect to the subject matter hereof; (b) supersedes all prior and contemporaneous understandings, conditions and
agreements, oral or written, express or implied, respecting the engagement of Consultant in connection with the subject matter
hereof; and (c) may not be modified except by an instrument in writing executed by the Company and Consultant.


 


11.         Waiver
and Breach. The waiver by either party of a breach of any provision of this Agreement by the other party shall not operate
or be construed as a waiver of any subsequent breach of that provision or any other provision hereof.


 



    	3



    	 



    

  


12.        Assignment.
Neither the Company nor Consultant may assign its rights or obligations under this Agreement without the express written consent
of the other.


 


13.        Governing
Law. This Agreement shall be deemed to be a contract made under, and is to be governed and construed in accordance with, the
laws of the State of New York, without application of the conflicts of laws principles thereof.


 


14.        Execution.
This Agreement may be executed in two or more 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 both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission
or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the
party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf”
signature page were an original thereof.


 


IN WITNESS WHEREOF, the
Company and Consultant have caused this Agreement to be duly executed and delivered on the date and year first above written.


 


	 	SKINNY NUTRITIONAL CORP.	 
	 	 	 	 
	 	By:	/s/ Michael Salaman	 
	 	Name:	Michael Salaman	 
	 	Title:	Chief Executive Officer	 
	 	 	 	 
	 	/s/ Marc Cummins	 
	 	Marc Cummins	 


 






    	4