Blueprint





 






Exhibit
10.68


 



FIRST AMENDMENT TO LICENSE AGREEMENT

 


THIS FIRST AMENDMENT ("First Amendment")
is entered into as of January 19,
2018,
by and between Isodiol International
Inc., a Canadian
corporation ("Licensee"), and Level Brands, Inc.,
a North Carolina corporation
("Licensor"),
and amends, modifies, and supplements
that certain License Agreement dated as of December 30, 2017
between the parties (the “Agreement”).

 

1. Declaration
of Intent. The intent of this
First Amendment is to amend, modify, and supplement the Agreement
for the purpose of extending the initial term of the subject
license from five (5) years to ten (10) years and expanding the
territory to which the subject license applies from the United
States of America and Canada to worldwide.

 

2. Term.
Section
1.2 of the Agreement is hereby
amended, modified, and superseded in its entirety
by,

 


deleting
the following prior text (strikethrough):

 



1.2            

Term. The term of this
Agreement shall commence on the Effective Date as set forth above
and end on the fifth anniversary of the date hereof, plus any
extensions or renewals (the “Term”); provided, that
after such five (5) year anniversary or any extension or renewal,
the Term shall be automatically extended for additional two (2)
year periods unless terminated by either Party by providing notice
to the other Party not less than ninety (90) days prior to the
expiration of any such term, extension or
renewal.





 


and
adding the following new text (underlined):

 



1.2            


Term. The term of this Agreement shall commence on the Effective
Date as set forth above and end on the tenth anniversary of the
date hereof, plus any extensions or renewals (the
“Term”); provided, that after such ten (10) year
anniversary or any extension or renewal, the Term shall be
automatically extended for additional two (2) year periods unless
terminated by either Party by providing notice to the other Party
not less than ninety (90) days prior to the expiration of any such
term, extension or renewal.





 

3. Territory.
Section
1.4 of the Agreement is hereby
amended, modified, and superseded in its entirety
by,

 


deleting
the following prior text (strikethrough):

 



1.4            

Territory.
The territory shall be all jurisdictions in the United States of
America and Canada in which Licensee is in compliance with all
applicable jurisdictional laws
(“Territory”).





 


and
adding the following new text (underlined):

 



1.4            


Territory. The territory shall be all jurisdictions throughout the
world and to the ends of the universe, including, but not limited
to, the United States of America and Canada, in which Licensee is
in compliance with all applicable jurisdictional laws
(“Territory”).





 

4. Capitalized
Terms. Capitalized terms used
but not defined herein shall have the meanings attributed to them
in the Agreement.

 




 








 






 

5. Effectiveness.
Except as expressly set forth herein, the Agreement shall remain in
full force and effect in accordance with its
terms.

 

6. Counterparts.
This First Amendment may be executed in two or more counterparts;
each of which shall be deemed an original, but all of which
together shall constitute one and the same
instrument.

 


IN
WITNESS WHEREOF, the Parties hereto have caused this instrument to
be duly executed as of the day and year first above
written.

 

 


	

On
Behalf of Licensor


 



Level Brands, Inc.


 


 



By: /s/ Martin A.
Sumichrast



Name: Martin A.
SumichrastTitle: CEO

	


On Behalf of
Licensee


 



Isodiol International, Inc.


 


 



By: /s/ Marcos Agramont



Name: Marcos
AgramontTitle: CEO







 


 


 


 




 

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