OPTION
AGREEMENT


 


Dated
as of January 10, 2017


 


This
Option Agreement in executed as of the date first set forth above, by and between EXOLifestyle, Inc., a Nevada corporation (the
“Company”) and Sloan McComb (“Optionee”).


 


Whereas,
the Company desires to grant to Optionee and Optionee desires to accept from the Company an option to purchase five million (5,000,000)
shares of common stock, par value $0.0001 per share of the Company (the “Option Shares”) upon the terms and conditions
set forth herein;


 


NOW,
THEREFORE, for and in consideration of the premises, mutual promises, covenants and agreements contained herein, and other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto (individually, a
“Party” and collectively, the “Parties”) hereby agree as follows:


 


1. Option;
Purchase Price. Subject to the terms and conditions herein, the Company hereby grants to Optionee the option (the
“Option”), exercisable at any time during the 10 year period following the date hereof (the “Option
Period”), to purchase, in one or more closings, the Option Shares at an exercise price of $0.02 per Option
Share.


 


2. Vesting
and Exercisability Schedule. No portion of the Option may be exercised until such portion shall have vested and thus
become exercisable. The Option shall vest and shall be exercisable with respect to the following number of Option Shares on
the dates indicated:


 


	Incremental
    Number of

 Option Shares	 	Vesting
    and

 Exercisability Date
	 	 	 
	2,500,000
    (50%)	 	July
    10, 2017
	 	 	 
	2,500,000
    (50%)	 	January
    10, 2018


 


Once
vested and exercisable, this Option shall continue to be exercisable at any time or times prior to the close of business on the
last day of the Option Period, subject to the provisions hereof.


 


3. Exercise
of Option. The Option granted hereunder shall be deemed exercised when (i) Optionee indicates her decision to do so in
writing to the Company pursuant to delivery of a Notice of Exercise of Stock Option in the form as attached hereto as Exhibit
A (the “Notice”) and such Notice is received by the Company, and (ii) Optionee provides to the Company payment
for the Option Shares to be so acquired as set forth herein.


 


4.
Forfeiture of Option. The Parties acknowledge and agree that the Optionee is a party to that certain Employment Agreement,
dated on or about December 22, 2015, by and between Optionee and EXO:EXO, Inc. (“EXO”), a subsidiary of the
Company (the “Employment Agreement”). In the event that either (i) Optionee’s employment with EXO is terminated
by EXO for Cause (as defined in the Employment Agreement) or (i) Optionee’s employment with EXO is terminated by Optionee
without Good Reason (as defined in the Employment Agreement), then the Option, to the extent not already vested as set forth in
Section 2 as of the date of such termination of employment, shall immediately be forfeited without any further action of the Parties
and shall be of no further force or effect and the Company shall retain any unpurchased Option Shares. In the event that Optionee’s
employment is changed to be by the Company or another subsidiary of the Company following the date hereof, this Section 4 shall
be deemed automatically modified to replace EXO with the Company or such other subsidiary, as applicable.


 




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5. Termination
of Option; No Impact on Waiver. To the extent not previously forfeited pursuant to Section 4, if Optionee fails to
exercise the Option to purchase all or any of the Option Shares by 4:00 p.m. on the last day of the Option Period, the Option
shall terminate and be of no further force or effect, and the Company shall retain any unpurchased Option Shares.


 


6. Payment.
Payment for the Option Shares shall be made by wire transfer, against delivery of the Option Shares to be purchased at a
place and at a time agreed upon between the Company and Optionee, which shall be no later than two (2) business days after
the Company’s receipt of the Notice from Optionee.


 


7. Miscellaneous
Provisions


 


(a) Entire
Agreement; Modification; Waiver; Scope of Agreement. This Agreement constitutes the entire agreement among the Parties
hereto with respect to, and supersedes all other agreements relating to, the subject matter contained herein. This Agreement
can be modified or changed only by a written instrument signed by the Parties. A Party’s waiver of enforcement of any
of the terms or conditions of this Agreement will be effective only if in writing.


 


(b) Assignment.
Neither Party may assign this Agreement without the prior written consent of the other Party, which consent may be given or
withheld in such other Party’s sole discretion.


 


(c) Governing
Law. This Agreement shall be governed by, enforced, and construed under and in accordance with the laws of the United
States of America and, with respect to the matters of state law, with the laws of the State of Nevada, without giving effect
to principles of conflicts of law thereunder. Each of the Parties submits to the jurisdiction of the state and/or federal
court sitting in Palm Beach County, Florida as the situs of any claim(s) in any action or proceeding arising out of or
relating to this Agreement and agrees that all claims in respect of the action or proceeding may be heard and determined by
any such court. By execution and delivery of this Agreement, each Party hereto irrevocably submits to and accepts, with
respect to any such action or proceeding, generally and unconditionally, the jurisdiction of the aforesaid court, and
irrevocably waives any and all rights such Party may now or hereafter have to object to such jurisdiction.


 


(d) Attorneys’
Fees. In the event that either Party institutes any action or suit to enforce this Agreement or to secure relief from
any default hereunder or breach hereof, the prevailing Party shall be reimbursed by the losing Party for all costs, including
reasonable attorney’s fees, incurred in connection therewith and in enforcing or collecting any judgment rendered
therein.


 


(e) Notices.
Any notice or other communications required or permitted hereunder shall be in writing and shall be sufficiently given if
personally delivered to it or sent by email with return receipt requested and received, by overnight courier or registered
mail or certified mail, postage prepaid, addressed as follows:


 


If
to Optionee, to:


 


Sloan
McComb


 __________________




 __________________




 __________________




Email:
_____________________


 




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If
to the Company, to: 


 


EXOLifestyle,
Inc.


136
NW 16th Street


Boca
Raton, FL 33432


Attn:
Vaughan Dugan


Email:
v.dugan@pfhospitalitygroup.com


 


or
such other addresses as shall be furnished in writing by any Party in the manner for giving notices hereunder, and any such notice
or communication shall be deemed to have been given (i) upon receipt, if personally delivered, (ii) on the day after dispatch,
if sent by overnight courier, (iii) upon dispatch, if transmitted by email and return receipt is requested and received and (iv)
three (3) days after mailing, if sent by registered or certified mail.


 


(f) Third
Party Beneficiaries. This Agreement is strictly between the Company and Optionee and no other person or entity shall be
deemed to be a third party beneficiary of this Agreement.


 


(g) Expenses. Each
Party will bear their own respective expenses, including legal, accounting and professional fees, incurred in connection with
the transactions contemplated hereby.


 


(h) Further
Assurances. Subject to the terms and conditions herein provided, each Party shall use its reasonable best efforts to
perform or fulfill all conditions and obligations to be performed or fulfilled by it under this Agreement so that the
transactions contemplated hereby shall be consummated as soon as practicable. Each Party also agrees that it shall use its
reasonable best efforts to execute such additional documents and to take, or cause to be taken, all actions and to do, or
cause to be done, all things necessary, proper or advisable under applicable laws and regulations to consummate and make
effective this Agreement and the transactions contemplated herein.


 


(i) Counterparts. This
Agreement may be executed in multiple counterparts, each of which shall be deemed an original and all of which taken together
shall be but a single instrument.


 


[Signatures
appear on following page]


 




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IN
WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the day and year first above written.


 


	 	EXOLifestyle, Inc.
	 	A Nevada corporation
	 	 	 
	 	By:
    	/s/
    Vaughan Dugan
	 	Name:
    	Vaughan
    Dugan
	 	Title:
    	Chief
    Executive Officer
	 	 	 
	 	Sloane McComb
	 	 	 
	 	By:
    	/s/
    Sloan McComb
	 	 	Sloane
    McComb


 




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Notice
of Exercise of Stock Option


Cash
Payment of Exercise Price


 


Ladies
and Gentlemen:


 


This
letter constitutes an unconditional and irrevocable notice that I hereby exercise the stock option granted to me by EXOLifestyle,
Inc., a Nevada corporation (the “Company”) on January 10, 2017 pursuant to the Option Agreement between the Company
and myself, dated as of such date (the “Agreement”). Pursuant to the terms of the Agreement and such option(s), I
wish to purchase ________________ shares of the common stock of the Company covered by such option(s) at the exercise price(s)
of $0.02 per share. Enclosed is a check for $____________ in full payment of the exercise price. These shares should be registered
and delivered as follows:


 


	Name:	Sloan
    McComb	 
	 	 	 
	Address:
    	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Social
    Security Number: 	 	 


 


I
represent that I: (i) am acquiring these shares for the purpose of investment and not with a view to distribution and will not
dispose of such shares in any manner that would involve a violation of applicable securities laws; (ii) have been advised and
understand that these shares have not been registered under the Securities Act of 1933 (the “Act”), are “restricted
securities” within the meaning of Rule 144 under the Act, are subject to restrictions on transfer and that the Company is
under no obligation to register these shares under the Act or to take any action which would make available to me any exemption
from such registration; and (iii) understand that the certificates for such shares shall bear an appropriate legend restricting
transfer in accordance with applicable securities laws.


 


I
also confirm my understanding that the grant of the options to me is subject to all provisions, including the non-transferability
and transfer restrictions, set forth in the Agreement.


 


	Dated:
    ______________, 20___	By:
    	 
	 	 	 
	 	

        Name:
	Sloan
    McComb


 




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