# EDGAR Filing Document

**Accession Number:** 0002067767
**File Stem:** 0001493152-26-030328
**Filing Date:** 2026-6
**Character Count:** 26952
**Document Hash:** ad2cb94d7c33eb7bb0c9ea7c979d84ef
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-26-030328.hdr.sgml**: 20260626

**ACCESSION NUMBER**: 0001493152-26-030328

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20260622

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260626

**DATE AS OF CHANGE**: 20260626

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NextBoat Inc.
- **CENTRAL INDEX KEY:** 0002067767
- **STANDARD INDUSTRIAL CLASSIFICATION:** SHIP & BOAT BUILDING & REPAIRING [3730]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 332636992
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-42930
- **FILM NUMBER:** 261130254

**BUSINESS ADDRESS:**
- **STREET 1:** 1701 JEL WADE DR
- **CITY:** WILMINGTON
- **STATE:** NC
- **ZIP:** 28401
- **BUSINESS PHONE:** (910) 772 9277

**MAIL ADDRESS:**
- **STREET 1:** 1701 JEL WADE DR
- **CITY:** WILMINGTON
- **STATE:** NC
- **ZIP:** 28401

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** OFF THE HOOK YS INC.
- **DATE OF NAME CHANGE:** 20250509

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d) OF**

**THE SECURITIES EXCHANGE ACT OF 1934**

**Date of Report (Date of earliest event reported): June 22, 2026**

**NextBoat Inc.**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Nevada** | **001-42930** | **33-2636992** |
| (State or other jurisdiction<br> of incorporation) | (Commission<br> File Number) | (I.R.S. Employer<br> Identification No.) |

---

**1701 Jel Wade Dr**

**Wilmington, NC 28401**

(Address of principal executive offices)

Registrant's telephone number, including area code: **(910) 772-9277**

**N/A**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, $0.001 par value | NXB | NYSE American LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 1.01. Entry into a Material Definitive Agreement.**

On June 22, 2026, NextBoat Inc. (the "Company") and its subsidiary, Off The Hook Yacht Sales NC, LLC ("Off The Hook" and, together with the Company, the "Borrowers"), entered into a Master Loan Agreement (the "Loan Agreement") with RLLT Capital, LLC (the "Lender"), providing for loans from time to time, at the Lender's discretion, to finance a portion of the Borrowers' acquisition of pre-owned boat inventory. In connection with the Loan Agreement, the Lender funded an initial loan in the principal amount of $2.0 million.

Loans under the Loan Agreement bear simple interest at 15.0% per annum and mature on the earlier of 180 days after funding and the closing date of the sale of the applicable boat. The Borrowers may extend a loan for one additional 90-day period, with an extension premium equal to 2% of the applicable principal amount added to the outstanding balance as additional interest.

The Borrowers are required to pay a 1% origination fee with respect to each loan and a profit participation equal to 5% of the gross profit, if any, realized on the sale of the applicable boat. Each loan is a full-recourse, unsecured obligation of the Borrowers, and the Borrowers are jointly and severally liable for all obligations under the Loan Agreement and the applicable written deal schedule.

The Loan Agreement states that the loans are intended to be ordinary commercial loans and not investment securities, and that the Lender has no ownership interest in the financed boats or right to participate in decisions relating to the Borrowers' business or the acquisition, marketing, pricing, sale or disposition of the financed boats.

The Company is disclosing the transaction as a related-party transaction because Jason Ruegg, the Company's President and controlling shareholder entered into a Personal Guaranty and Stock Pledge Agreement (the "Guaranty and Pledge Agreement") in favor of the Lender, pursuant to which he absolutely, unconditionally and irrevocably guarantees the payment and performance of the Borrowers' obligations under the Loan Agreement and each written deal schedule. Ruegg Capital Group, Inc., a North Carolina business corporation and affiliate of the Borrowers under common control, also entered into the Guaranty and Pledge Agreement and pledged shares of the Company's common stock owned by Mr. Ruegg having an aggregate collateral value of not less than $5.0 million as security for the obligations. Mr. Ruegg did not receive any consideration for issuing the Personal Guarantee and did so because he and the Company's board of directors determined, after reviewing other potential loan financing, that the Loan Agreement was in the best interests of the Company.

The foregoing description of the Loan Agreement is a summary only and is qualified in its entirety by reference to the full text of such agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

**Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.**

The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference. As described above, on June 22, 2026, the Borrowers incurred a direct financial obligation under the Loan Agreement in the initial principal amount of $2.0 million, plus accrued interest, fees, any extension premium and any profit participation.

**Item 9.01. Financial Statements and Exhibits.**

(d) *Exhibits.*

---

| | |
|:---|:---|
| Exhibit Number | Exhibits |
| 10.1\* | [Form of Master Loan Agreement, dated as of June 22, 2026, by and among NextBoat Inc. and Off The Hook Yacht Sales NC, LLC, as borrowers, and RLLT Capital, LLC, as lender, including the deal schedule thereto and Off The Hook Yacht Sales NC, LLC, as borrowers, and RLLT Capital, LLC, as lender.](ex10-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

\* Certain identified information has been excluded from the exhibit because it is both (i) not material and (ii) is the type that the registrant treats as private or confidential.

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| Date: June 26, 2026 | **NextBoat Inc.** | **NextBoat Inc.** |
|  | By: | */s/ Brian John* |
|  | Name: | Brian John |
|  | Title: | Chief Executive Officer |

---

## Exhibit 10.1

**Exhibit 10.1**

![](ex10-1_001.jpg)

**MASTER LOAN AGREEMENT**

This Master Loan Agreement (the "Agreement") is entered into as of June 22, 2026 (the "Effective Date"), by and between NextBoat, Inc., a Nevada C corporation and Off The Hook Yacht Sales NC, LLC, a North Carolina limited liability company (each, jointly and severally, a "Borrower" and collectively the "Borrower"), and RLLT Capital, LLC, a North Carolina limited liability company, with an address at 516 Orange Street, Raleigh, NC 27609 ("Lender"). Borrower and Lender are each a "Party" and collectively the "Parties."

**RECITALS**

A. Borrower is engaged in the business of purchasing pre-owned boats, holding them in inventory under a floorplan financing facility, and reselling them at a profit.

B. From time to time, Borrower may seek funding from Lender to provide the equity portion (approximately 20% to 25%) of the purchase price required by Borrower's floorplan lender for the acquisition of specific boats. The actual Principal amount funded for any particular Loan shall be the amount specified in the applicable Deal Schedule and may vary from deal to deal.

C. Lender wishes to make one or more loans to Borrower on a deal-by-deal basis, with each individual loan documented under a separate Deal Schedule incorporated into and governed by this Agreement.

NOW, THEREFORE, in consideration of the mutual covenants set forth herein, the Parties agree as follows:

**1. STRUCTURE; DEAL SCHEDULES**

1.1 Deal-by-Deal Loans. This Agreement establishes the master terms governing any loan (each, a "Loan") that Lender, in Lender's sole discretion, may elect to make to Borrower under a written Deal Schedule executed by both Parties substantially in the form attached as Exhibit A. Each Deal Schedule, once executed, is incorporated into and forms a part of this Agreement.

1.2 No Obligation to Lend or Borrow. Nothing in this Agreement obligates Lender to fund any particular Loan or obligates Borrower to request or accept any Loan. Each Loan is a separate transaction, and the default of one Loan does not, by itself, constitute a default under any other Loan.

1.3 Conflict. If any term of a Deal Schedule conflicts with this Agreement, the Deal Schedule controls solely with respect to that Loan.

**2. THE LOAN**

2.1 Principal. Lender shall fund the principal amount specified in the applicable Deal Schedule (the "Principal") by wire transfer to Borrower or, at Borrower's direction, directly to the seller of the Boat or to Borrower's floorplan lender.

2.2 Use of Proceeds. Borrower shall use the Principal solely to fund the equity (down payment) portion of the purchase price of the specific boat identified in the Deal Schedule (the "Boat").

2.3 Interest. The Principal shall accrue simple interest at the rate of fifteen percent (15%) per annum, calculated on the basis of a 365-day year for the actual number of days elapsed ("Interest"). Interest accrues from the date the Principal is funded until the date the Principal and all accrued Interest are paid in full.

2.4 Maturity. The Principal and all accrued and unpaid Interest are due and payable in full on the earlier of: (a) the date that is one hundred eighty (180) days after the Principal is funded (the "Initial Maturity Date"); or (b) the closing date of the sale of the Boat to a third party.

2.5 Borrower's Extension Option. Borrower may, at Borrower's sole option and upon written notice to Lender delivered on or before the Initial Maturity Date, extend the Initial Maturity Date by one additional ninety (90) day period (the "Extension Period"). As consideration for the Extension Period, an additional amount equal to two percent (2%) of the Principal (the "Extension Premium") shall be added to the outstanding balance and characterized as additional interest. The Extension Premium accrues upon Borrower's delivery of the extension notice and is due and payable, together with the Principal and all accrued Interest, on the extended maturity date.

2.6 Payment. All amounts due hereunder shall be paid in U.S. dollars by wire transfer or ACH to an account designated in writing by Lender. Payments shall be applied first to accrued Interest and any Default Interest, then to the Origination Fee and the Extension Premium (if any), then to the Profit Participation, and then to Principal.

2.7 Prepayment. Borrower may prepay all or any portion of any Loan at any time without penalty. Interest accrues only through the date of prepayment.

2.8 Origination Fee. In consideration of Lender making each Loan, Borrower shall pay Lender an origination fee equal to one percent (1%) of the Principal of such Loan (the "Origination Fee"). The Origination Fee is fully earned by Lender upon funding of the Principal, is non-refundable, and is due and payable, together with the Principal and all accrued Interest, on the Initial Maturity Date (or, if the Extension Option is exercised, the extended maturity date), or, if earlier, the date the Loan is repaid in full.

2.9 Business Days. "Business Day" means any day other than a Saturday, Sunday, or a day on which commercial banks in the State of North Carolina are authorized or required by law to close. Whenever any payment is due, or any other obligation is required to be performed, under this Agreement or any Deal Schedule on a day that is not a Business Day, such payment or performance shall instead be due on the next succeeding Business Day, and such extension of time shall be included in the computation of Interest and any other amounts payable.

**3. PROFIT PARTICIPATION**

3.1 Profit Participation. In addition to repayment of Principal and Interest, Borrower shall pay Lender, with respect to each Loan, a profit participation equal to five percent (5%) of the Gross Profit, if any, realized by Borrower on the sale of the Boat (the "Profit Participation"). The Profit Participation is in addition to, and not in lieu of, the Interest and the Origination Fee.

3.2 Gross Profit Defined. For purposes of each Loan, "Gross Profit" means the amount, if any, by which (a) the gross sale price of the Boat received by Borrower from the third-party buyer exceeds (b) the sum of: (i) the Boat Purchase Price set forth in the applicable Deal Schedule; (ii) Borrower's direct, documented selling costs for the Boat (including broker or sales commissions and any reconditioning, transportation, and closing costs directly attributable to the Boat); and (iii) Borrower's direct, documented carrying costs for the Boat, including floorplan financing interest and fees, the Interest and Origination Fee under this Loan, dockage and storage, insurance, and other holding costs directly attributable to the Boat. Gross Profit is calculated without deduction for Borrower's general overhead or indirect corporate expenses not attributable to the Boat. If the Gross Profit is zero or a negative amount, no Profit Participation is payable with respect to that Loan.

3.3 Payment. The Profit Participation, if any, is earned upon the closing of the sale of the Boat and is due and payable to Lender, together with the Principal and all accrued Interest, on the date the Loan is repaid. Borrower's obligation to repay the Principal, accrued Interest, and the Origination Fee is absolute and is not contingent on the existence or amount of any Gross Profit or Profit Participation.

3.4 Statement; Verification. Concurrently with payment of the Profit Participation (or, if no Profit Participation is payable, concurrently with repayment of the Loan), Borrower shall deliver to Lender a reasonably detailed written statement showing the gross sale price of the Boat, the deductions taken in determining Gross Profit, and the resulting Profit Participation. Upon Lender's reasonable written request made within ninety (90) days after delivery of such statement, Borrower shall make available to Lender, or Lender's designated representative, the supporting records reasonably necessary to verify the calculation, subject to customary confidentiality obligations.

**4. REPAYMENT GUARANTEE; SECURITY**

4.1 Corporate Obligation. Each Loan is a full recourse obligation of Borrower. Borrower's obligation to repay the Principal, accrued Interest, and any Extension Premium is not contingent on the sale of the Boat, the price at which the Boat is sold, or whether Borrower realizes a profit, loss, or breakeven outcome on the Boat.

4.2 Loss on Sale. If the Boat is sold for an amount that, after payment of the floorplan lender and transaction costs, is insufficient to repay the Principal and accrued Interest, Borrower shall remain fully liable for the deficiency and shall pay such amount from Borrower's other funds.

4.3 Unsecured. Lender acknowledges that (a) Borrower's floorplan lender holds a first-priority security interest in each Boat, and (b) the Loans are unsecured general obligations of Borrower. Lender has not been granted, and shall not assert, any lien, security interest, or other encumbrance on any Boat or any of Borrower's assets.

4.4 Joint and Several Liability. Each Borrower is jointly and severally liable for all obligations under this Agreement and each Deal Schedule, including repayment of the Principal, accrued Interest, the Origination Fee, any Extension Premium, and the Profit Participation. Lender may enforce this Agreement against either Borrower, together or separately, without first proceeding against the other Borrower or against the Boat, and the obligations of each Borrower are independent of the obligations of the other. Each Borrower waives any requirement that Lender exhaust its remedies against the other Borrower, the Boat, or any other collateral before enforcing this Agreement against it.

**5. INSURANCE**

5.1 Coverage. Borrower shall, at its sole expense, maintain hull, liability, and physical damage insurance on each Boat in commercially reasonable amounts and on commercially reasonable terms, at all times from the date of acquisition until the date of sale.

5.2 Proof. Upon Lender's reasonable written request (not more than once per Loan), Borrower shall provide Lender with a certificate of insurance evidencing the coverage required by this Section.

5.3 Casualty. In the event of a total loss of the Boat, Borrower shall apply insurance proceeds first to satisfy the floorplan lender and then to repay the Principal and accrued Interest. Borrower remains liable for any deficiency.

**6. NATURE OF RELATIONSHIP**

6.1 Lender, Not Partner. The relationship between Borrower and Lender is solely that of borrower and lender. This Agreement does not create, and shall not be construed to create, a partnership, joint venture, agency, fiduciary, employment, or other relationship of any kind between the Parties.

6.2 No Equity; No Control. Lender has no ownership interest in the Boat, or in any proceeds from the sale of the Boat. Lender has no right to participate in, or approve any decision relating to the acquisition, marketing, pricing, sale, or disposition of the Boat, or to the operation of Borrower's business.

6.3 No Securities Representation. Each Party acknowledges that the Loans are intended to be ordinary commercial loans and not investment securities. If this Agreement or any Loan is nevertheless determined to constitute a security under applicable federal or state law, the Parties shall cooperate in good faith to make any filings or take any actions required to comply with such law, at Borrower's expense.

**7. REPRESENTATIONS AND WARRANTIES**

7.1 Lender Representations. Lender represents and warrants to Borrower that: (a) Lender has the power and authority to enter into this Agreement; (b) Lender is making each Loan with Lender's own funds and not on behalf of any other person; (c) Lender has had the opportunity to consult with independent legal, tax, and financial advisors of Lender's choosing before entering into this Agreement and each Deal Schedule; (d) Lender is financially able to bear the risk of loss of the entire Principal; and (e) Lender is an "accredited investor" as defined in Rule 501 of Regulation D under the Securities Act of 1933.

7.2 Borrower Representations. Each Borrower represents and warrants to Lender that: (a) such Borrower is duly organized, validly existing, and in good standing in its state of formation; (b) Borrower has full power and authority to enter into this Agreement and to perform its obligations hereunder; and (c) this Agreement, when executed, constitutes the legal, valid, and binding obligation of Borrower, enforceable in accordance with its terms.

**8. DEFAULT AND REMEDIES**

8.1 Events of Default. Each of the following constitutes an "Event of Default" with respect to a particular Loan: (a) Borrower fails to pay any amount when due under such Loan and such failure continues for ten (10) business days after written notice from Lender; (b) Borrower fails to maintain insurance on the Boat as required herein and such failure continues for ten (10) business days after written notice from Lender; or (c) Borrower commences a voluntary bankruptcy proceeding or has an involuntary bankruptcy proceeding commenced against it that is not dismissed within sixty (60) days.

8.2 Remedies. Upon an Event of Default, Lender may declare the affected Loan immediately due and payable and pursue any remedy available at law or in equity, subject to the limitations of this Agreement. Default Interest shall accrue on past-due amounts at the lesser of fifteen percent (15%) per annum or the maximum rate permitted by applicable law.

8.3 Cross-Default. A default under one Loan is not, by itself, a default under any other Loan unless the Parties so agree in writing.

**9. MISCELLANEOUS**

9.1 Governing Law. This Agreement is governed by the laws of the State of North Carolina, without regard to its conflict of laws principles.

9.2 Venue; Jury Waiver. Any action arising out of or relating to this Agreement shall be brought exclusively in the state or federal courts located in New Hanover County, North Carolina, and each Party consents to personal jurisdiction and venue therein. EACH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ANY RIGHT TO TRIAL BY JURY.

9.3 Notices. All notices must be in writing and sent by email (with confirmation of delivery) and by recognized overnight courier to the addresses specified by each Party in the applicable Deal Schedule.

9.4 Entire Agreement. This Agreement, together with all executed Deal Schedules, constitutes the entire agreement between the Parties regarding its subject matter and supersedes all prior or contemporaneous understandings, written or oral.

9.5 Amendment. This Agreement may be amended only by a written instrument signed by both Parties. A Deal Schedule may be amended by a written instrument signed by both Parties.

9.6 Severability. If any provision of this Agreement is held invalid or unenforceable, the remaining provisions remain in full force and effect.

9.7 Counterparts; Electronic Signatures. This Agreement may be executed in counterparts, including by electronic signature, each of which is deemed an original and all of which together constitute one instrument.

9.8 Assignment. Lender may not assign this Agreement or any Loan without Borrower's prior written consent. Borrower may assign this Agreement to any successor entity in connection with a corporate reorganization.

9.9 Usury Savings. Notwithstanding anything to the contrary, in no event shall any interest, premium, or other charge under this Agreement exceed the maximum rate permitted by applicable law, and any excess shall be applied to reduce the Principal or refunded to Borrower.

**SIGNATURES**

IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date.

---

| | |
|:---|:---|
| BORROWER: | BORROWER: |
| NextBoat, INC | NextBoat, INC |
| By: | */s/ Jason Ruegg* |
| Name: | Jason Ruegg |
| Title: | President |
| Date: | 6/22/2026 |
| Off The Hook Yacht Sales NC, LLC | Off The Hook Yacht Sales NC, LLC |
| By: | */s/ Chad Corbin* |
| Name: | Chad Corbin |
| Title: | CFO |
| Date: | 6/22/2026 |
| LENDER: | LENDER: |
| RLLT CAPITAL, LLC, | RLLT CAPITAL, LLC, |
| a North Carolina limited liability company | a North Carolina limited liability company |
| By: |  |
| Name: |  |
| Title: | Manager |
| Date: |  |

---

**EXHIBIT A**

**FORM OF DEAL SCHEDULE**

This Deal Schedule No. 005-766 (this "Deal Schedule"), dated as of June 22, 2026, is entered into pursuant to and governed by the Master Loan Agreement dated as of June 22, 2026, between NextBoat, INC and Off The Hook Yacht Sales NC, LLC (collectively, the "Borrower") and RLLT Capital, LLC ("Lender") (the "Master Agreement"). Capitalized terms used but not defined herein have the meanings given in the Master Agreement.

**Loan Terms**

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| | |
|:---|:---|
| **Deal Schedule Number:** | 005-766 |
| **Effective Date:** | Monday, June 22, 2026 |
| **Boat — Year / Make / Model:** | [Redacted] |
| **Vessel Registration / Official No.:** | [Redacted] |
| **Boat Purchase Price:** | [Redacted] |
| **Floorplan Lender:** | [Redacted] |
| **Principal (Lender's funding):** | $2000000.00 |
| **Funding Date:** | Monday, June 22, 2026 |
| **Interest Rate:** | 15.0% per annum, simple |
| **Initial Maturity Date:** | 180 days after Funding Date: Saturday, December 19, 2026 |
| **Extension Option (Borrower):** | Yes — 90 days, Extension Premium = 2% of Principal |
| **Extended Maturity Date (if exercised):** | 270 days after Funding Date: Friday, March 19, 2027 |
| **Origination Fee:** | 1% of Principal; earned at funding, payable at maturity; see § 2.8 of Master Agreement |
| **Profit Participation:** | 5% of Gross Profit on sale of the Boat; see § 3 of Master Agreement |
| **Lender Wire Instructions:** | [Wire instructions on file with Lender] |
| **Borrower Notice Address / Email:** | Legal@nextboat.com |
| **Lender Notice Address / Email:** | [Redacted] |

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This Deal Schedule is governed by, and incorporated into, the Master Agreement in all respects. In the event of any conflict between this Deal Schedule and the Master Agreement, this Deal Schedule controls solely with respect to the Loan documented herein.

---

| | |
|:---|:---|
| BORROWER: | BORROWER: |
| NextBoat, INC | NextBoat, INC |
| By: | */s/ Jason Ruegg* |
| Name: | Jason Ruegg |
| Title: | President |
| Off The Hook Yacht Sales NC, LLC | Off The Hook Yacht Sales NC, LLC |
| By: | */s/ Chad Corbin* |
| Name: | Chad Corbin |
| Title: | CFO |
| LENDER: | LENDER: |
| RLLT CAPITAL, LLC, | RLLT CAPITAL, LLC, |
| a North Carolina limited liability company | a North Carolina limited liability company |
| By: |  |
| Name: | [Redacted] |
| Title: | Manager |

---