Document:

Exhibit 10.4

 

SECURITY AGREEMENT

 

1. THE
SECURITY. The undersigned Creatd, Inc., a Nevada corporation (the “Pledgor”) and all of the subsidiaries of the Pledgor
(the “Subsidiaries” and together with the Pledgor, the “Debtors”), hereby assign and grant to the
holders of the Pledgor’s Original Issue Discount Senior Convertible Debentures issued on May 31, 2022 and July 25, 2022 (collectively,
the “Debentures”), signatory hereto, their endorsees, transferees and assigns (collectively, the “Creditors”),
a security interest in all assets of the Debtors, now owned or hereafter acquired, including the following described property now owned
or hereafter acquired by the Debtors (the “Collateral”):

 

(a) All
accounts, contract rights, chattel paper, instruments, deposit accounts, letter of credit rights, payment intangibles and general intangibles,
including all amounts due to each Debtor from a factor; and all returned or repossessed goods which, on sale or lease, resulted in an
account or chattel paper.

 

(b) All
inventory, including all materials, work in process and finished goods.

 

(c) All
machinery, furniture, fixtures and other equipment of every type now owned or hereafter acquired by the Pledgor.

 

(d) All
instruments, notes, chattel paper, documents, certificates of deposit, securities and investment property of every type, including, without
limitation, the capital stock of all of the Subsidiaries. The Collateral shall include all liens, security agreements, leases and other
contracts securing or otherwise relating to the foregoing.

 

(e) All
general intangibles, including, but not limited to: (i) all patents, and all unpatented or unpatentable inventions, (ii) all trademarks,
service marks, and trade names, (iii) all copyrights and literary rights, (iv) all computer software programs, (v) all mask works of semiconductor
chip products, and (vi) all trade secrets, proprietary information, customer lists, manufacturing, engineering and production plans, drawings,
specifications, processes and systems. The Collateral shall include all good will connected with or symbolized by any of such general
intangibles, all contract rights, documents, applications, licenses, materials and other matters related to such general intangibles;
all tangible property embodying or incorporating any such general intangibles; and all chattel paper and instruments relating to such
general intangibles.

 

(f) All negotiable and nonnegotiable
documents of title covering any Collateral.

 

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(g) All
accessions, attachments and other additions to the Collateral, and all tools, parts and equipment used in connection with the Collateral.

 

(h) All
substitutes or replacements for any Collateral, all cash or non-cash proceeds, product, rents and profits of any Collateral, all income,
benefits and property receivable on account of the Collateral, all rights under warranties, indemnities and insurance contracts, letters
of credit, guaranties or other supporting obligations covering the Collateral, and any causes of action relating to the Collateral.

 

(i) All
books and records pertaining to any Collateral, including but not limited to any computer-readable memory and any computer hardware or
software necessary to process such memory ("Books and Records").

 

2. THE
INDEBTEDNESS. The Collateral secures and will secure all Indebtedness. "Indebtedness" means all debts, obligations or
liabilities now or hereafter existing, absolute or contingent of the Debtors to the Creditors, whether voluntary or involuntary, whether
due or not due, or whether incurred directly or indirectly or acquired by the Creditors by assignment or otherwise.

 

3. DEBTORS’
COVENANTS. Each Debtor represents, covenants and warrants that unless compliance is waived by each of the Creditors in writing:

 

(a) Each
Debtor will properly preserve the Collateral (except for any thereof that is sold in the ordinary course of business), defend the Collateral
against any adverse claims and demands, and keep accurate Books and Records.

 

(b) Each
Debtor’s chief executive office is located, in the state specified on the signature page hereof. In addition, each Debtor is incorporated
in or organized under the laws of the state specified on such signature page. Each Debtor shall give the Creditors at least thirty (30)
days notice before changing its chief executive office or state of incorporation or organization. The Debtors will notify the Creditors
in writing prior to any change in the location of any Collateral (except to the extent the change arises from the sale thereof in the
ordinary course of business), including the Books and Records.

 

(c) Each
Debtor will notify the Creditors, in writing, prior to any change in the Debtor’s name, identity or material change in its business
structure.

 

(d) Except for
Permitted Liens (as defined in that certain Restructuring Agreement dated as of the date hereof among the parties hereto, the
“Restructuring Agreement”), as otherwise specifically contemplated by this Agreement or unless otherwise agreed, each
Debtor has not granted and will not grant any security interest in any of the Collateral except to the Creditors, and will keep the
Collateral free of all liens, claims, security interests and encumbrances of any kind or nature except the security interest of the
Creditors.

 

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(e) Each
Debtor will promptly notify the Creditors, in writing, of any event which materially affects the value of the Collateral, the ability
of the Debtors or the Creditors to dispose of the Collateral, or the rights and remedies of the Creditors in relation thereto, including,
but not limited to, the levy of any legal process against any Collateral and the adoption of any marketing order, arrangement or procedure
affecting the Collateral, whether governmental or otherwise.

 

(f) Each
Debtor shall pay all costs necessary to preserve, defend, enforce and collect the Collateral, including but not limited to taxes, assessments,
insurance premiums, repairs, rent, storage costs and expenses of sales, and any costs to perfect the security interest of the Creditors
(collectively, the “Collateral Costs”). Without waiving such Debtor’s default for failure to make any such payment,
the Creditors, following any such failure, at its option may pay any such Collateral Costs, and discharge encumbrances on the Collateral,
and such Collateral Costs payments shall be a part of the Indebtedness and bear interest at the rate set out in the Indebtedness. Each
Debtor agrees to reimburse the Creditors on demand for any Collateral Costs reasonably incurred.

 

(g) Until
the Creditors exercise their rights to make collection, the Debtors will diligently collect all Collateral.

 

(h) If
any Collateral is or becomes the subject of any registration certificate, certificate of deposit or negotiable document of title, including
any warehouse receipt or bill of lading, each Debtor shall immediately deliver such document to the Creditors, together with any necessary
endorsements.

 

(i) Except
as permitted under the Restructuring Agreement, the Debtors will not sell, lease, agree to sell or lease, or otherwise dispose of any
Collateral except with the prior written consent of the Creditors; provided, however, that the Debtors may sell inventory
in the ordinary course of business.

 

(j) Each
Debtor will maintain and keep in force insurance covering the Collateral against fire and extended coverage, to the extent that any Collateral
is of a type which can be so insured. Such insurance shall require losses to be paid on a replacement cost basis, be issued by insurance
companies acceptable to the Creditors and include a loss payable endorsement in favor of the Creditors in a form acceptable to the Creditors.
Upon the request of the Creditors, the Debtors shall deliver to the Creditors a copy of each insurance policy, or, if permitted by the
Creditors, a certificate of insurance listing all insurance in force.

 

(k) The Debtors will
not attach any Collateral to any real property or fixture in a manner which might cause such Collateral to become a part thereof
unless the Debtor first obtains the written consent of any owner, holder of any lien on the real property or fixture, or other
person having an interest in such property to the removal by the Creditors of the Collateral from such real property or fixture.
Such written consent shall be in form and substance acceptable to the Creditors and shall provide that the Creditors have no
liability to such owner, holder of any lien, or any other person.

 

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(l) Exhibit
A to this Agreement is a complete list of all patents, trademark and service mark registrations, copyright registrations, mask work
registrations, and all applications therefore, in which each Debtor has any right, title, or interest, throughout the world. Each Debtor
will promptly notify the Creditors of any acquisition (by adoption and use, purchase, license or otherwise) of any patent, trademark or
service mark registration, copyright registration, mask work registration, and applications therefore, and unregistered trademarks and
service marks and copyrights, throughout the world, which are granted or filed or acquired by any Debtor after the date hereof or which
are not listed on such Exhibit. Each Debtor authorizes the Creditors, without notice to any Debtor, to modify this Agreement by amending
such Exhibit to include any such Collateral.

 

(m) Each
Debtor will, at its expense, diligently prosecute all patent, trademark or service mark or copyright applications pending on or after
the date hereof, will maintain in effect all issued patents and will renew all trademark and service mark registrations, including payment
of any and all maintenance and renewal fees relating thereto, except for such patents, service marks and trademarks that are being sold,
donated or abandoned by the Debtors pursuant to the terms of its intellectual property management program. Each Debtor also will promptly
make application on any patentable but unpatented inventions, registerable but unregistered trademarks and service marks, and copyrightable
but uncopyrighted works. Each Debtor will at its expense protect and defend all rights in the Collateral against any material claims and
demands of all persons other than the Creditors and will, at its expense, enforce all rights in the Collateral against any and all infringers
of the Collateral where such infringement would materially impair the value or use of the Collateral to the Debtors or the Creditors.
No Debtor will license or transfer any of the Collateral, except for such licenses as are customary in the ordinary course of the Debtors’
business, or except with the prior written consent of each of the Creditors, which consent shall not be unreasonably withheld.

 

4.
ADDITIONAL OPTIONAL REQUIREMENTS. Each Debtor agrees that the Creditors may, at their option at any time, whether or not any Debtor
is in default:

 

(a) Require
the Debtors to deliver to the Creditors (i) copies of or extracts from the Books and Records, and (ii) information on any contracts or
other matters affecting the Collateral.

 

(b) Examine the
Collateral, including the Books and Records, and make copies of or extracts from the Books and Records, and for such purposes enter
at any reasonable time, with or without prior notice, upon the property where any Collateral or any Books and Records are
located.

 

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(c) Require
each Debtor to deliver to the Creditors any instruments, chattel paper or letters of credit which are part of the Collateral, and to assign
to the Creditors the proceeds of any such letters of credit.

 

(d) Notify
any account debtors, any buyers of the Collateral, or any other persons of the Creditors’ interest in the Collateral.

 

5.
DEFAULTS. Any one or more of the following shall be a default  hereunder:

 

(a)
Any Indebtedness is not paid when due, or any default occurs under any agreement relating to the Indebtedness, after giving effect
to any applicable grace or cure periods.

 

(b) Any
Debtor breaches any term, provision, warranty or representation under this Agreement or under any other obligation of the Debtor to the
Purchaser, and such breach remains uncured after any applicable cure period.

 

(c) Any
Creditor fails to have an enforceable lien on or security interest in the Collateral.

 

(d) Any
custodian, receiver or trustee is appointed to take possession, custody or control of all or a material portion of the Collateral.

 

(e) Any
involuntary lien of any kind or character attaches to any Collateral, except for liens for taxes not yet due.

 

6.
PURCHASER'S REMEDIES AFTER DEFAULT. In the event of any default, the Creditors may do any one or more of the following:

 

(a) Declare
any Indebtedness immediately due and payable, without notice or demand.

 

(b) Enforce
the security interest given hereunder pursuant to the Uniform Commercial Code and any other applicable law.

 

(c) Require
the Debtors to obtain the Creditors’ prior written consent to any sale, lease, agreement to sell or lease, or other disposition
of any Collateral consisting of inventory.

 

(d) Require
the Debtors to segregate all collections and proceeds of the Collateral so that they are capable of identification and deliver daily such
collections and proceeds to the Creditors in kind.

 

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(e) Require
the Debtors, to the extent not previously required, to direct all account debtors to forward all payments and proceeds of the Collateral
to a post office box or account under the Creditors’ exclusive control.

 

(f) Require
the Debtors to assemble the Collateral, including the Books and Records, and make them available to the Purchaser at a place designated
by the Creditors.

 

(g) Enter
upon the property where any Collateral, including any Books and Records, are located and take possession of such Collateral and such Books
and Records, and use such property (including any buildings and facilities) and any of the Debtors’ equipment, if the Creditor deems
such use necessary or advisable in order to take possession of, hold, preserve, process, assemble, prepare for sale or lease, market for
sale or lease, sell or lease, or otherwise dispose of, any Collateral.

 

(h) Demand
and collect any payments on and proceeds of the Collateral. In connection therewith, each Debtor irrevocably authorizes the Creditors
to endorse or sign the Debtor’s name on all checks, drafts, collections, receipts and other documents, and to take possession of
and open the mail addressed to the Debtor and remove therefrom any payments and proceeds of the Collateral.

 

(i) Grant
extensions and compromise or settle claims with respect to the Collateral for less than face value, all without prior notice to any Debtor.

 

(j) Use
or transfer any of the Debtors’ rights and interests in any Intellectual Property now owned or hereafter acquired by any Debtor,
if the Creditors deem such use or transfer necessary or advisable in order to take possession of, hold, preserve, process, assemble, prepare
for sale or lease, market for sale or lease, sell or lease, or otherwise dispose of, any Collateral. The Debtors agree that any such use
or transfer shall be without any additional consideration to any Debtor. As used in this paragraph, "Intellectual Property"
includes, but is not limited to, all trade secrets, computer software, service marks, trademarks, trade names, trade styles, copyrights,
patents, applications for any of the foregoing, customer lists, working drawings, instructional manuals, and rights in processes for technical
manufacturing, packaging and labeling, in which any Debtor has any right or interest, whether by ownership, license, contract or otherwise.

 

(k) Have
a receiver appointed by any court of competent jurisdiction to take possession of the Collateral. Each Debtor hereby consents to the appointment
of such a receiver and agrees not to oppose any such appointment.

 

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(l) Take
such measures as the Creditors may deem necessary or advisable to take possession of, hold, preserve, process, assemble, insure, prepare
for sale or lease, market for sale or lease, sell or lease, or otherwise dispose of, any Collateral, and each Debtor hereby irrevocably
constitutes and appoints the Creditors as the Debtors’ attorneys-in-fact to perform all acts and execute all documents in connection
therewith.

 

(m)
Exercise any other remedies available to the Creditors at law or in equity.

 

7.
RESERVED.

 

8.
MISCELLANEOUS.

 

(a) Any
waiver, express or implied, of any provision hereunder and any delay or failure by any Creditor to enforce any provision shall not preclude
any Creditor from enforcing any such provision thereafter.

 

(b) The
Debtors shall, at the request of any of the Creditors, execute such other agreements, documents, instruments, or financing statements
in connection with this Agreement as the Creditors may reasonably deem necessary.

 

(c) This
Agreement shall be governed by and construed according to the laws of the State of New York, to the jurisdiction of which the parties
hereto submit.

 

(d) All
rights and remedies herein provided are cumulative and not exclusive of any rights or remedies otherwise provided by law. Any single or
partial exercise of any right or remedy shall not preclude the further exercise thereof or the exercise of any other right or remedy.

 

(e) All
terms not defined herein are used as set forth in the Uniform Commercial Code.

 

(f) In
the event of any action by the Creditors to enforce this Agreement or to protect the security interest of the Creditors in the Collateral,
or to take possession of, hold, preserve, process, assemble, insure, prepare for sale or lease, market for sale or lease, sell or lease,
or otherwise dispose of, any Collateral, the Debtors agree to immediately pay the costs and expenses thereof, together with reasonable
attorney's fees and allocated costs for in-house legal services to the extent permitted by law.

 

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(g) In
the event any of the Creditors seek to take possession of any or all of the Collateral by judicial process, the Debtors hereby irrevocably
waive any bonds and any surety or security relating thereto that may be required by applicable law as an incident to such possession,
and waives any demand for possession prior to the commencement of any such suit or action.

 

(h) This
Agreement shall constitute a continuing agreement, applying to all future as well as existing transactions, whether or not of the character
contemplated at the date of this Agreement, and if all transactions between the Creditors and the Debtors shall be closed at any time,
shall be equally applicable to any new transactions thereafter.

 

(i) The
Creditors’ rights hereunder shall inure to the benefit of its successors and assigns. In the event of any assignment or transfer
by any Creditors of any of the Indebtedness or the Collateral, such Creditors thereafter shall be fully discharged from any responsibility
with respect to the Collateral so assigned or transferred, but such Creditors shall retain all rights and powers hereby given with respect
to any of the Indebtedness or the Collateral not so assigned or transferred. All representations, warranties and agreements of the Debtors
shall be binding upon the successors and assigns of the Debtors.

 

(j) The
Debtors agree that the Collateral may be sold as provided for in this Agreement and expressly waives any rights of notice of sale, advertisement
procedures, or related provisions granted under applicable law, including the New York Lien Law.

 

9. AGENT. Each
Creditor hereby appoints   to act as its agent (“Agent”) for purposes of exercising any and all rights and
remedies of the Creditors hereunder and to take all actions that the Creditors may or could take hereunder. Unless any provision of this
Agreement specifically requires all Creditors to take a specific action or exercise a specific remedy, each Creditor agrees that Agent
shall exercise any and all rights and remedies of the Creditors hereunder and take all actions that the Creditors may or could take hereunder.
In addition, unless otherwise specifically required, any notice the Debtors may give to Creditors hereunder may instead be given only
to Agent. The Agent shall have the rights, responsibilities and immunities set forth in Annex A hereto.

 

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The parties executed this Agreement as of September 15,
2022.

 

	CREATD, INC.	 	Address: 419 Lafayette
	 	 	Street, 6th Floor
	By:	 	 	New York, NY 10003
	 	Name: 	Chelsea Pullano	 	State of Incorporation:
	 	Title: 	CFO	 	Nevada 

 

		JERRICK VENTURES
    LLC 
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name: 	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer 
	 	 
	 	ABACUS TECH PTY LTD
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name:	Chelsea Pullano
	 	 	Title:	Chief Financial Officer
	 	 
	 	SELLER’S CHOICE LLC
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name:	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer
	 	 
	 	CREATD STUDIOS LLC
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name: 	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer
	 	 
	 	GIVE LLC
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name:	Chelsea Pullano
	 	 	Title:	Chief Financial Officer

 

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	 	CREATD PARTNERS LLC
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name: 	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer
	 	 
	 	DENVER BODEGA LLC
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name:	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer 
	 	 
	 	DUNE INC.
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name:	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer 
	 	 
	 	PLANT CAMP LLC
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name:	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer
	 	 	 	 
	 	SCI-FI.COM LLC
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name:	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer
	 	 
	 	OG COLLECTION INC
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name:	Chelsea Pullano
	 	 	Title:	Chief Financial Officer 

 

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	 	OG GALLERY LLC
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name:	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer 
	 	 
	 	VMENA LLC
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name: 	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer 
	 	 
	 	VOCAL FOR BRANDS LLC
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name: 	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer 
	 	 
	 	VOCAL VENTURES LLC
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name: 	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer
	 	
	 	WHAT TO BUY LLC
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name:	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer 
	 	 
	 	WHE AGENCY INC.
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By: 	 
	 	 	Name:	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer

 

[SIGNATURE PAGE OF CREDITORS FOLLOWS]

 

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[SIGNATURE PAGE OF CREDITORS TO CTRD SECURITY AGREEMENT]

 

Name of Investing Entity: ________________________________________ 

 

Signature of Authorized Signatory of Investing entity:
_______________________________ 

 

Name of Authorized Signatory: ______________________________ 

 

Title of Authorized Signatory: ________________________________ 

 

[SIGNATURE PAGE OF CREDITORS FOLLOWS]

 

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EXHIBIT A

Intellectual Property

 

Trademarks:

 

Vocal, Registration #5438308, Class 041, 042, 045

Vocal, Registration #6670296, Class 09

Vocal logo, Registration #6645977, Class 045

Vocal logo, Registration #6645976, Class 042

Vocal logo, Registration #6670436, Class 041

Vocal logo, Registration #6670434, Class 09

Dune, Registration # 6708624, Class 032

OG, Registration # 6735611, Class 035, 041

Plant Camp, Registration
# 6411478, Class 030

Seller’s Choice, Registration # 5327023, Class 035

Unbalanced, Registration #5844951, Class 041, 045

Viva, Registration #5447381, Class 041, 045

Viva (design), Registration #5447362, Class 041, 045

 

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ANNEX A

to

 SECURITY

AGREEMENT

 THE AGENT

 

1. Appointment.
The Creditors (all capitalized terms used herein and not otherwise defined shall have the respective meanings provided in the Security
Agreement to which this Annex A is attached (the "Agreement")), by their acceptance of the benefits of the Agreement,
hereby designate (the “Agent”) as the Agent to act as specified herein and in the Agreement. Each Creditor shall be
deemed irrevocably to authorize the Agent to take such action on its behalf under the provisions of the Agreement and to exercise such
powers and to perform such duties hereunder and thereunder as are specifically delegated to or required of the Agent by the terms hereof
and thereof and such other powers as are reasonably incidental thereto. The Agent may perform any of its duties hereunder by or through
its agents or employees.

 

2. Nature
of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the
Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or
omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any
oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful conduct as
determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be
mechanical and administrative in nature; the Agent shall not have by reason of the Agreement a fiduciary relationship in respect of any
Debtor or any Creditor; and nothing in the Agreement, expressed or implied, is intended to or shall be so construed as to impose upon
the Agent any obligations in respect of the Agreement except as expressly set forth herein and therein.

 

3. Lack of Reliance
on the Agent. Independently and without reliance upon the Agent, each Creditor, to the extent it deems appropriate, has made and
shall continue to make (i) its own independent investigation of the financial condition and affairs of the Pledgor and its
subsidiaries in connection with such Creditor’s investment in the Debtors, the creation and continuance of the Indebtedness,
and the taking or not taking of any action in connection therewith, and (ii) its own appraisal of the creditworthiness of the
Pledgor and its subsidiaries, and of the value of the Collateral from time to time, and the Agent shall have no duty or
responsibility, either initially or on a continuing basis, to provide any Creditor with any credit, market or other information with
respect thereto, whether coming into its possession before any Indebtedness are incurred or at any time or times thereafter. The
Agent shall not be responsible to the Debtors or any Creditor for any recitals, statements, information, representations or
warranties herein or in any document, certificate or other writing delivered in connection herewith, or for the execution,
effectiveness, genuineness, validity, enforceability, perfection, collectability, priority or sufficiency of the Agreement or for
the financial condition of the Debtors or the value of any of the Collateral, or be required to make any inquiry concerning either
the performance or observance of any of the terms, provisions or conditions of the Agreement, or the financial condition of the
Debtors, or the value of any of the Collateral, or the existence or possible existence of any default or Event of Default under the
Agreement, the Debentures or otherwise.

 

4. Certain
Rights of the Agent. The Agent shall have the right to take any action with respect to the Collateral, on behalf of all of the Creditors.
To the extent practical, the Agent shall request instructions from the Creditors with respect to any material act or action (including
failure to act) in connection with the Agreement, and shall be entitled to act or refrain from acting in accordance with the instructions
of Creditors holding a majority in principal amount of Debentures (based on then- outstanding principal amounts of Debentures at the time
of any such determination) (a “Majority in Interest”); if such instructions are not provided despite the Agent’s
request therefor, the Agent shall be entitled to refrain from such act or taking such action, and if such action is taken, shall be entitled
to appropriate indemnification from the Creditors in respect of actions to be taken by the Agent; and the Agent shall not incur liability
to any person or entity by reason of so refraining. Without limiting the foregoing, (a) no Creditor shall have any right of action whatsoever
against the Agent as a result of the Agent acting or refraining from acting hereunder in accordance with the terms of the Agreement, and
the Debtors shall have no right to question or challenge the authority of, or the instructions given to, the Agent pursuant to the foregoing
and (b) the Agent shall not be required to take any action which the Agent believes (i) could reasonably be expected to expose it to personal
liability or (ii) is contrary to this Agreement or applicable law.

 

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5. Reliance.
The Agent shall be entitled to rely, and shall be fully protected in relying, upon any writing, resolution, notice, statement, certificate,
telex, teletype or telecopier message, cablegram, radiogram, order or other document or telephone message signed, sent or made by the
proper person or entity, and, with respect to all legal matters pertaining to the Agreement and its duties thereunder, upon advice of
counsel selected by it and upon all other matters pertaining to the Agreement and its duties thereunder, upon advice of other experts
selected by it. Anything to the contrary notwithstanding, the Agent shall have no obligation whatsoever to any Creditor to assure that
the Collateral exists or is owned by the Debtors or is cared for, protected or insured or that the liens granted pursuant to the Agreement
have been properly or sufficiently or lawfully created, perfected, or enforced or are entitled to any particular priority.

 

6. Indemnification. To
the extent that the Agent is not reimbursed and indemnified by the Debtors, the Creditors will jointly and severally reimburse and
indemnify the Agent, in proportion to their initially purchased respective principal amounts of Debentures, from and against any and
all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or
nature whatsoever which may be imposed on, incurred by or asserted against the Agent in performing its duties hereunder or under the
Agreement, or in any way relating to or arising out of the Agreement except for those determined by a final judgment (not subject to
further appeal) of a court of competent jurisdiction to have resulted solely from the Agent's own gross negligence or willful
misconduct. Prior to taking any action hereunder as Agent, the Agent may require each Creditor to deposit with it sufficient sums as
it determines in good faith is necessary to protect the Agent for costs and expenses associated with taking such action.

 

7.
Resignation by the Agent.

 

(a) The Agent may resign from the performance
of all its functions and duties under the Agreement at any time by giving 30 days' prior written notice (as provided in the Agreement)
to the Debtors and the Creditors. Such resignation shall take effect upon the appointment of a successor Agent pursuant to clauses (b)
and (c) below.

 

(b) Upon
any such notice of resignation, the Creditors, acting by a Majority in Interest, shall appoint a successor Agent hereunder.

 

(c) If
a successor Agent shall not have been so appointed within said 30- day period, the Agent shall then appoint a successor Agent who shall
serve as Agent until such time, if any, as the Creditors appoint a successor Agent as provided above. If a successor Agent has not been
appointed within such 30-day period, the Agent may petition any court of competent jurisdiction or may interplead the Debtors and the
Creditors in a proceeding for the appointment of a successor Agent, and all fees, including, but not limited to, extraordinary fees associated
with the filing of interpleader and expenses associated therewith, shall be payable by the Debtors on demand.

 

8. Rights
with respect to Collateral. Each Creditor agrees with all other Creditors and the Agent (i) that it shall not, and shall not
attempt to, exercise any rights with respect to its security interest in the Collateral, whether pursuant to any other agreement or otherwise
(other than pursuant to the Agreement), or take or institute any action against the Agent or any of the other Creditors in respect of
the Collateral or its rights hereunder (other than any such action arising from the breach of this Agreement) and (ii) that such Creditor
has no other rights with respect to the Collateral other than as set forth in this Agreement.

 

9. Treatment
of Funds. To the extent Agent receives any funds either from the Debtors directly on account of the Indebtedness or as proceeds of
Collateral, Agent shall retain such funds in trust for the benefit of the Creditors and shall immediately remit the same to the Creditors
in proportion to the principal amount of Debentures then held by the Creditors.

 

 

15Exhibit
10.5

 

SUBSIDIARY
GUARANTEE

 

SUBSIDIARY
GUARANTEE, dated as of September 15, 2022 (this “Guarantee”), made by each of the signatories hereto (together with
any other entity that may become a party hereto as provided herein, the “Guarantors”), in favor of the purchasers
signatory (together with their permitted assigns, the “Purchasers”) to that certain Securities Purchase Agreement,
dated as of the date hereof, between Creatd, Inc., a Nevada corporation (the “Company”) and the Purchasers.

 

W
I T N E S S E T H:

 

WHEREAS,
pursuant to that certain Securities Purchase Agreement, dated as of the date hereof, by and between the Company and the Purchasers (the
“Purchase Agreement”), the Company has agreed to sell and issue to the Purchasers, and the Purchasers have agreed
to purchase from the Company the Debentures, subject to the terms and conditions set forth therein; and

 

WHEREAS,
each Guarantor will directly benefit from the extension of credit to the Company represented by the issuance of the Debentures; and

 

NOW,
THEREFORE, in consideration of the premises and to induce the Purchasers to enter into the Purchase Agreement and to carry out the transactions
contemplated thereby, each Guarantor hereby agrees with the Purchasers as follows:

 

1.
Definitions. Unless otherwise defined herein, terms defined in the Purchase Agreement and used herein shall have the meanings
given to them in the Purchase Agreement. The words “hereof,” “herein,” “hereto” and “hereunder”
and words of similar import when used in this Guarantee shall refer to this Guarantee as a whole and not to any particular provision
of this Guarantee, and Section and Schedule references are to this Guarantee unless otherwise specified. The meanings given to terms
defined herein shall be equally applicable to both the singular and plural forms of such terms. The following terms shall have the following
meanings:

 

“Guarantee”
means this Subsidiary Guarantee, as the same may be amended, supplemented or otherwise modified from time to time.

 

“Obligations”
means, in addition to all other costs and expenses of collection incurred by Purchasers in enforcing any of such Obligations and/or this
Guarantee, all of the liabilities and obligations (primary, secondary, direct, contingent, sole, joint or several) due or to become due,
or that are now or may be hereafter contracted or acquired, or owing to, of the Company or any Guarantor to the Purchasers, including,
without limitation, all obligations under this Guarantee, the Debentures and any other instruments, agreements or other documents executed
and/or delivered in connection herewith or therewith, in each case, whether now or hereafter existing, voluntary or involuntary, direct
or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time
to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities
that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from any of the Purchasers
as a preference, fraudulent transfer or otherwise as such obligations may be amended, supplemented, converted, extended or modified from
time to time. Without limiting the generality of the foregoing, the term “Obligations” shall include, without limitation:
(i) principal of, and interest on the Debentures and the loans extended pursuant thereto; (ii) any and all other fees, indemnities, costs,
obligations and liabilities of the Company or any Guarantor from time to time under or in connection with this Guarantee, the Debentures
and any other instruments, agreements or other documents executed and/or delivered in connection herewith or therewith; and (iii) all
amounts (including but not limited to post-petition interest) in respect of the foregoing that would be payable but for the fact that
the obligations to pay such amounts are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar
proceeding involving the Company or any Guarantor.

 

    1

     

    

 

2.
Guarantee.

 

(a)
Guarantee.

 

(i)
The Guarantors hereby, jointly and severally, unconditionally and irrevocably, guarantee to the Purchasers and their respective successors,
indorsees, transferees and assigns, the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration
or otherwise) of the Obligations.

 

(ii)
Anything herein or in any other Transaction Document to the contrary notwithstanding, the maximum liability of each Guarantor hereunder
and under the other Transaction Documents shall in no event exceed the amount which can be guaranteed by such Guarantor under applicable
federal and state laws, including laws relating to the insolvency of debtors, fraudulent conveyance or transfer or laws affecting the
rights of creditors generally (after giving effect to the right of contribution established in Section 2(b)).

 

(iii)
Each Guarantor agrees that the Obligations may at any time and from time to time exceed the amount of the liability of such Guarantor
hereunder without impairing the guarantee contained in this Section 2 or affecting the rights and remedies of the Purchasers hereunder.

 

(iv)
The guarantee contained in this Section 2 shall remain in full force and effect until all the Obligations and the obligations of each
Guarantor under the guarantee contained in this Section 2 shall have been satisfied by indefeasible payment in full.

 

(v)
No payment made by the Company, any of the Guarantors, any other guarantor or any other Person or received or collected by the Purchasers
from the Company, any of the Guarantors, any other guarantor or any other Person by virtue of any action or proceeding or any set-off
or appropriation or application at any time or from time to time in reduction of or in payment of the Obligations shall be deemed to
modify, reduce, release or otherwise affect the liability of any Guarantor hereunder which shall, notwithstanding any such payment (other
than any payment made by such Guarantor in respect of the Obligations or any payment received or collected from such Guarantor in respect
of the Obligations), remain liable for the Obligations up to the maximum liability of such Guarantor hereunder until the Obligations
are indefeasibly paid in full.

 

(vi)
Notwithstanding anything to the contrary in this Guarantee, with respect to any defaulted non-monetary Obligations the specific performance
of which by the Guarantors is not reasonably possible (e.g. the issuance of the Company’s Common Stock), the Guarantors shall only
be liable for making the Purchasers whole on a monetary basis for the Company’s failure to perform such Obligations in accordance
with the Transaction Documents.

 

(b)
Right of Contribution. Subject to Section 2(c), each Guarantor hereby agrees that to the extent that a Guarantor shall have paid
more than its proportionate share of any payment made hereunder, such Guarantor shall be entitled to seek and receive contribution from
and against any other Guarantor hereunder which has not paid its proportionate share of such payment. Each Guarantor’s right of
contribution shall be subject to the terms and conditions of Section 2(c). The provisions of this Section 2(b) shall in no respect limit
the obligations and liabilities of any Guarantor to the Purchasers and each Guarantor shall remain liable to the Purchasers for the full
amount guaranteed by such Guarantor hereunder.

 

(c)
No Subrogation. Notwithstanding any payment made by any Guarantor hereunder or any set-off or application of funds of any Guarantor
by the Purchasers, no Guarantor shall be entitled to be subrogated to any of the rights of the Purchasers against the Company or any
other Guarantor or any collateral security or guarantee or right of offset held by the Purchasers for the payment of the Obligations,
nor shall any Guarantor seek or be entitled to seek any contribution or reimbursement from the Company or any other Guarantor in respect
of payments made by such Guarantor hereunder, until all amounts owing to the Purchasers by the Company on account of the Obligations
are indefeasibly paid in full. If any amount shall be paid to any Guarantor on account of such subrogation rights at any time when all
of the Obligations shall not have been paid in full, such amount shall be held by such Guarantor in trust for the Purchasers, segregated
from other funds of such Guarantor, and shall, forthwith upon receipt by such Guarantor, be turned over to the Purchasers in the exact
form received by such Guarantor (duly indorsed by such Guarantor to the Purchasers, if required), to be applied against the Obligations,
whether matured or unmatured, in such order as the Purchasers may determine.

 

    2

     

    

 

(d)
Amendments, Etc. With Respect to the Obligations. Each Guarantor shall remain obligated hereunder notwithstanding that, without
any reservation of rights against any Guarantor and without notice to or further assent by any Guarantor, any demand for payment of any
of the Obligations made by the Purchasers may be rescinded by the Purchasers and any of the Obligations continued, and the Obligations,
or the liability of any other Person upon or for any part thereof, or any collateral security or guarantee therefor or right of offset
with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised,
waived, surrendered or released by the Purchasers, and the Purchase Agreement and the other Transaction Documents and any other documents
executed and delivered in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Purchasers
may deem advisable from time to time, and any collateral security, guarantee or right of offset at any time held by the Purchasers for
the payment of the Obligations may be sold, exchanged, waived, surrendered or released. The Purchasers shall have no obligation to protect,
secure, perfect or insure any Lien at any time held by them as security for the Obligations or for the guarantee contained in this Section
2 or any property subject thereto.

 

(e)
Guarantee Absolute and Unconditional. Each Guarantor waives any and all notice of the creation, renewal, extension or accrual
of any of the Obligations and notice of or proof of reliance by the Purchasers upon the guarantee contained in this Section 2 or acceptance
of the guarantee contained in this Section 2; the Obligations, and any of them, shall conclusively be deemed to have been created, contracted
or incurred, or renewed, extended, amended or waived, in reliance upon the guarantee contained in this Section 2; and all dealings between
the Company and any of the Guarantors, on the one hand, and the Purchasers, on the other hand, likewise shall be conclusively presumed
to have been had or consummated in reliance upon the guarantee contained in this Section 2. Each Guarantor waives to the extent permitted
by law diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon the Company or any of the Guarantors
with respect to the Obligations. Each Guarantor understands and agrees that the guarantee contained in this Section 2 shall be construed
as a continuing, absolute and unconditional guarantee of payment and performance without regard to (a) the validity or enforceability
of the Purchase Agreement or any other Transaction Document, any of the Obligations or any other collateral security therefor or guarantee
or right of offset with respect thereto at any time or from time to time held by the Purchasers, (b) any defense, set-off or counterclaim
(other than a defense of payment or performance or fraud by Purchasers) which may at any time be available to or be asserted by the Company
or any other Person against the Purchasers, or (c) any other circumstance whatsoever (with or without notice to or knowledge of the Company
or such Guarantor) which constitutes, or might be construed to constitute, an equitable or legal discharge of the Company for the Obligations,
or of such Guarantor under the guarantee contained in this Section 2, in bankruptcy or in any other instance. When making any demand
hereunder or otherwise pursuing its rights and remedies hereunder against any Guarantor, the Purchasers may, but shall be under no obligation
to, make a similar demand on or otherwise pursue such rights and remedies as they may have against the Company, any other Guarantor or
any other Person or against any collateral security or guarantee for the Obligations or any right of offset with respect thereto, and
any failure by the Purchasers to make any such demand, to pursue such other rights or remedies or to collect any payments from the Company,
any other Guarantor or any other Person or to realize upon any such collateral security or guarantee or to exercise any such right of
offset, or any release of the Company, any other Guarantor or any other Person or any such collateral security, guarantee or right of
offset, shall not relieve any Guarantor of any obligation or liability hereunder, and shall not impair or affect the rights and remedies,
whether express, implied or available as a matter of law, of the Purchasers against any Guarantor. For the purposes hereof, “demand”
shall include the commencement and continuance of any legal proceedings.

 

    3

     

    

 

(f)
Reinstatement. The guarantee contained in this Section 2 shall continue to be effective, or be reinstated, as the case may be,
if at any time payment, or any part thereof, of any of the Obligations is rescinded or must otherwise be restored or returned by the
Purchasers upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of the Company or any Guarantor, or upon or as
a result of the appointment of a receiver, intervenor or conservator of, or trustee or similar officer for, the Company or any Guarantor
or any substantial part of its property, or otherwise, all as though such payments had not been made.

 

(g)
Payments. Each Guarantor hereby guarantees that payments hereunder will be paid to the Purchasers without set-off or counterclaim
in U.S. dollars at the address set forth or referred to in the Signature Pages to the Purchase Agreement.

 

3.
Representations and Warranties. Each Guarantor hereby makes the following representations and warranties to Purchasers as of the
date hereof:

 

(a)
Organization and Qualification. The Guarantor is a corporation, duly incorporated, validly existing and in good standing under
the laws of the applicable jurisdiction set forth on Schedule 1, with the requisite corporate power and authority to own and use its
properties and assets and to carry on its business as currently conducted. The Guarantor has no subsidiaries other than those identified
as such on the Disclosure Schedules to the Purchase Agreement. The Guarantor is duly qualified to do business and is in good standing
as a foreign corporation 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, could not, individually or in the aggregate,
(x) adversely affect the legality, validity or enforceability of any of this Guaranty in any material respect, (y) have a material adverse
effect on the results of operations, assets, prospects, or financial condition of the Guarantor or (z) adversely impair in any material
respect the Guarantor’s ability to perform fully on a timely basis its obligations under this Guaranty (a “Material Adverse
Effect”).

 

(b)
Authorization; Enforcement. The Guarantor has the requisite corporate power and authority to enter into and to consummate the
transactions contemplated by this Guaranty, and otherwise to carry out its obligations hereunder. The execution and delivery of this
Guaranty by the Guarantor and the consummation by it of the transactions contemplated hereby have been duly authorized by all requisite
corporate action on the part of the Guarantor. This Guaranty has been duly executed and delivered by the Guarantor and constitutes the
valid and binding obligation of the Guarantor enforceable against the Guarantor 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.

 

    4

     

    

 

(c)
No Conflicts. The execution, delivery and performance of this Guaranty by the Guarantor and the consummation by the Guarantor
of the transactions contemplated thereby do not and will not (i) conflict with or violate any provision of its Certificate of Incorporation
or By-laws or (ii) conflict with, constitute a default (or an event which with notice or lapse of time or both would become a default)
under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument
to which the Guarantor is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment, injunction, decree or
other restriction of any court or governmental authority to which the Guarantor is subject (including Federal and State securities laws
and regulations), or by which any material property or asset of the Guarantor is bound or affected, except in the case of each of clauses
(ii) and (iii), such conflicts, defaults, terminations, amendments, accelerations, cancellations and violations as could not, individually
or in the aggregate, have or result in a Material Adverse Effect. The business of the Guarantor is not being conducted in violation of
any law, ordinance or regulation of any governmental authority, except for violations which, individually or in the aggregate, do not
have a Material Adverse Effect.

 

(d)
Consents and Approvals. The Guarantor is not required to obtain any consent, waiver, authorization or order of, or make any filing
or registration with, any court or other federal, state, local, foreign or other governmental authority or other person in connection
with the execution, delivery and performance by the Guarantor of this Guaranty.

 

(e)
Purchase Agreement. The representations and warranties of the Company set forth in the Purchase Agreement as they relate to such
Guarantor, each of which is hereby incorporated herein by reference, are true and correct as of each time such representations are deemed
to be made pursuant to such Purchase Agreement, and the Purchasers shall be entitled to rely on each of them as if they were fully set
forth herein, provided that each reference in each such representation and warranty to the Company’s knowledge shall, for the purposes
of this Section 3, be deemed to be a reference to such Guarantor’s knowledge.

 

(f)
Foreign Law. Each Guarantor has consulted with appropriate foreign legal counsel with respect to any of the above representations
for which non-U.S. law is applicable. Such foreign counsel have advised each applicable Guarantor that such counsel knows of no reason
why any of the above representations would not be true and accurate. Such foreign counsel were provided with copies of this Subsidiary
Guarantee and the Transaction Documents prior to rendering their advice.

 

4.
Covenants.

 

(a)
Each Guarantor covenants and agrees with the Purchasers that, from and after the date of this Guarantee until the Obligations shall have
been indefeasibly paid in full, such Guarantor shall take, and/or shall refrain from taking, as the case may be, each commercially reasonable
action that is necessary to be taken or not taken, as the case may be, so that no Event of Default (as defined in the Debentures) is
caused by the failure to take such action or to refrain from taking such action by such Guarantor.

 

    5

     

    

 

(b)
So long as any of the Obligations are outstanding, [unless Purchasers holding at least % of the aggregate principal amount of the then
outstanding Debentures shall otherwise consent in writing, each Guarantor will not directly or indirectly on or after the date of this
Guarantee:

 

i.
enter into, create, incur, assume or suffer to exist any indebtedness for borrowed money of any kind, including but not limited to, a
guarantee, on or with respect to any of its property or assets now owned or hereafter acquired or any interest therein or any income
or profits therefrom;

 

ii.
enter into, create, incur, assume or suffer to exist any liens of any kind, on or with respect to any of its property or assets now owned
or hereafter acquired or any interest therein or any income or profits therefrom;

 

iii.
amend its certificate of incorporation, bylaws or other charter documents so as to adversely affect any rights of any Purchaser;

 

iv.
repay, repurchase or offer to repay, repurchase or otherwise acquire more than a de minimis number of shares of its securities or debt
obligations;

 

v.
pay cash dividends on any equity securities of the Company;

 

vi.
enter into any transaction with any Affiliate of the Guarantor which would be required to be disclosed in any public filing of the Company
with the Commission, unless such transaction is made on an arm’s-length basis and expressly approved by a majority of the disinterested
directors of the Company (even if less than a quorum otherwise required for board approval); or

 

vii.
enter into any agreement with respect to any of the foregoing.

 

5.
Miscellaneous.

 

(a)
Amendments in Writing. None of the terms or provisions of this Guarantee may be waived, amended, supplemented or otherwise modified
except in writing by the Purchasers.

 

(b)
Notices. All notices, requests and demands to or upon the Purchasers or any Guarantor hereunder shall be effected in the manner
provided for in the Purchase Agreement, provided that any such notice, request or demand to or upon any Guarantor shall be addressed
to such Guarantor at its notice address set forth on Schedule 5(b).

 

(c)
No Waiver By Course Of Conduct; Cumulative Remedies. The Purchasers shall not by any act (except by a written instrument pursuant
to Section 5(a)), delay, indulgence, omission or otherwise be deemed to have waived any right or remedy hereunder or to have acquiesced
in any default under the Transaction Documents or Event of Default. No failure to exercise, nor any delay in exercising, on the part
of the Purchasers, any right, power or privilege hereunder shall operate as a waiver thereof. No single or partial exercise of any right,
power or privilege hereunder shall preclude any other or further exercise thereof or the exercise of any other right, power or privilege.
A waiver by the Purchasers of any right or remedy hereunder on any one occasion shall not be construed as a bar to any right or remedy
which the Purchasers would otherwise have on any future occasion. The rights and remedies herein provided are cumulative, may be exercised
singly or concurrently and are not exclusive of any other rights or remedies provided by law.

 

    6

     

    

 

(d)
Enforcement Expenses; Indemnification.

 

(i)
Each Guarantor agrees to pay, or reimburse the Purchasers for, all its costs and expenses incurred in collecting against such Guarantor
under the guarantee contained in Section 2 or otherwise enforcing or preserving any rights under this Guarantee and the other Transaction
Documents to which such Guarantor is a party, including, without limitation, the reasonable fees and disbursements of counsel to the
Purchasers.

 

(ii)
Each Guarantor agrees to pay, and to save the Purchasers harmless from, any and all liabilities with respect to, or resulting from any
delay in paying, any and all stamp, excise, sales or other taxes which may be payable or determined to be payable in connection with
any of the transactions contemplated by this Guarantee.

 

(iii)
Each Guarantor agrees to pay, and to save the Purchasers harmless from, any and all liabilities, obligations, losses, damages, penalties,
actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever with respect to the execution, delivery,
enforcement, performance and administration of this Guarantee to the extent the Company would be required to do so pursuant to the Purchase
Agreement.

 

(iv)
The agreements in this Section shall survive repayment of the Obligations and all other amounts payable under the Purchase Agreement
and the other Transaction Documents.

 

(e)
Successor and Assigns. This Guarantee shall be binding upon the successors and assigns of each Guarantor and shall inure to the
benefit of the Purchasers and their respective successors and assigns; provided that no Guarantor may assign, transfer or delegate any
of its rights or obligations under this Guarantee without the prior written consent of the Purchasers.

 

(f)
Set-Off. Each Guarantor hereby irrevocably authorizes the Purchasers at any time and from time to time while an Event of Default
under any of the Transaction Documents shall have occurred and be continuing, without notice to such Guarantor or any other Guarantor,
any such notice being expressly waived by each Guarantor, to set-off and appropriate and apply any and all deposits, credits, indebtedness
or claims, in any currency, in each case whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or
owing by the Purchasers to or for the credit or the account of such Guarantor, or any part thereof in such amounts as the Purchasers
may elect, against and on account of the obligations and liabilities of such Guarantor to the Purchasers hereunder and claims of every
nature and description of the Purchasers against such Guarantor, in any currency, whether arising hereunder, under the Purchase Agreement,
any other Transaction Document or otherwise, as the Purchasers may elect, whether or not the Purchasers have made any demand for payment
and although such obligations, liabilities and claims may be contingent or unmatured. The Purchasers shall notify such Guarantor promptly
of any such set-off and the application made by the Purchasers of the proceeds thereof, provided that the failure to give such notice
shall not affect the validity of such set-off and application. The rights of the Purchasers under this Section are in addition to other
rights and remedies (including, without limitation, other rights of set-off) which the Purchasers may have.

 

    7

     

    

 

(g)
Counterparts. This Guarantee may be executed by one or more of the parties to this Guarantee on any number of separate counterparts
(including by telecopy), and all of said counterparts taken together shall be deemed to constitute one and the same instrument.

 

(h)
Severability. Any provision of this Guarantee which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such
prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

(i)
Section Headings. The Section headings used in this Guarantee are for convenience of reference only and are not to affect the
construction hereof or be taken into consideration in the interpretation hereof.

 

(j)
Integration. This Guarantee and the other Transaction Documents represent the agreement of the Guarantors and the Purchasers with
respect to the subject matter hereof and thereof, and there are no promises, undertakings, representations or warranties by the Purchasers
relative to subject matter hereof and thereof not expressly set forth or referred to herein or in the other Transaction Documents.

 

(k)
Governing Laws. All questions concerning the construction, validity, enforcement and interpretation of this Guarantee shall be
governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles
of conflicts of law thereof. Each of the Company and the Guarantors agree that all proceedings concerning the interpretations, enforcement
and defense of the transactions contemplated by this Guarantee (whether brought against a party hereto or its respective affiliates,
directors, officers, shareholders, partners, members, employees or agents) shall be commenced exclusively in the state and federal courts
sitting in the City of New York, Borough of Manhattan. Each of the Company and the Guarantors hereby irrevocably submits to the exclusive
jurisdiction of the state and federal courts sitting in the City of New York, Borough of Manhattan for the adjudication of any dispute
hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and
agrees not to assert in any proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such
proceeding is improper. Each party hereto hereby irrevocably waives personal service of process and consents to process being served
in any such proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to
such party at the address in effect for notices to it under this Guarantee and agrees that such service shall constitute good and sufficient
service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any
manner permitted by law. Each party hereto hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all
right to trial by jury in any legal proceeding arising out of or relating to this Guarantee or the transactions contemplated hereby.

 

    8

     

    

 

(l)
Acknowledgements. Each Guarantor hereby acknowledges that:

 

(i)
it has been advised by counsel in the negotiation, execution and delivery of this Guarantee and the other Transaction Documents to which
it is a party;

 

(ii)
the Purchasers have no fiduciary relationship with or duty to any Guarantor arising out of or in connection with this Guarantee or any
of the other Transaction Documents, and the relationship between the Guarantors, on the one hand, and the Purchasers, on the other hand,
in connection herewith or therewith is solely that of debtor and creditor; and

 

(iii)
no joint venture is created hereby or by the other Transaction Documents or otherwise exists by virtue of the transactions contemplated
hereby among the Guarantors and the Purchasers.

 

(m)
Additional Guarantors. The Company shall cause each of its subsidiaries formed or acquired on or subsequent to the date hereof
to become a Guarantor for all purposes of this Guarantee by executing and delivering an Assumption Agreement in the form of Annex 1 hereto.

 

(n)
Release of Guarantors. Each Guarantor will be released from all liability hereunder concurrently with the indefeasible repayment
in full of all amounts owed under the Purchase Agreement, the Debentures and the other Transaction Documents.

 

(o)
Seniority. The Obligations of each of the Guarantors hereunder rank senior in priority to any other Indebtedness (as defined in
the Purchase Agreement) of such Guarantor.

 

(p)
WAIVER OF JURY TRIAL. EACH GUARANTOR AND, BY ACCEPTANCE OF
THE BENEFITS HEREOF, THE PURCHASERS, HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING
TO THIS GUARANTEE AND FOR ANY COUNTERCLAIM THEREIN.

 

*********************

 

(Signature
Pages Follow)

 

    9

     

    

 

IN
WITNESS WHEREOF, each of the undersigned has caused this Guarantee to be duly executed and delivered as of the date first above written.

 

	 	JERRICK VENTURES
    LLC 
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name: 	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer 
	 	 
	 	ABACUS TECH PTY LTD
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name:	Chelsea Pullano
	 	 	Title:	Chief Financial Officer
	 	 
	 	SELLER’S CHOICE LLC
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name:	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer
	 	 
	 	CREATD STUDIOS LLC
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name: 	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer

 

    10

     

    

 

	 	GIVE LLC
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name:	Chelsea Pullano
	 	 	Title:	Chief Financial Officer
	 	 
	 	CREATD PARTNERS LLC
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name: 	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer
	 	 
	 	DENVER BODEGA LLC
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name:	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer 
	 	 
	 	DUNE INC.
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name:	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer 
	 	 
	 	PLANT CAMP LLC
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name:	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer

 

    11

     

    

 

	 	SCI-FI.COM LLC
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name:	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer
	 	 
	 	OG GALLERY LLC
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name:	Chelsea Pullano
	 	 	Title:	Chief Financial Officer 
	 	 
	 	OG COLLECTION INC
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name:	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer 
	 	 
	 	VMENA LLC
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name: 	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer 
	 	 
	 	VOCAL FOR BRANDS LLC
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name: 	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer 
	 	 
	 	VOCAL VENTURES LLC
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name: 	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer

 

    12

     

    

 

	 	WHAT TO BUY LLC
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By:	 
	 	 	Name:	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer 
	 	 
	 	WHE AGENCY INC.
	 	 
	 	By: CREATD, INC.
	 	Its: Managing Member
	 	 
	 	By: 	 
	 	 	Name:	Chelsea Pullano
	 	 	Title: 	Chief Financial Officer

 

    13

     

    

 

SCHEDULE
1

 

GUARANTORS

 

The
following are the names, notice addresses and jurisdiction of organization of each Guarantor.

 

	Affiliate	 	Jurisdiction
    of Incorporation	 	Company
    Owned by Percentage
	Jerrick Ventures, LLC	 	Delaware	 	100%
	Abacus Tech Pty Ltd	 	Australia	 	100%
	Seller’s Choice, LLC	 	New Jersey	 	100%
	Creatd Studios, LLC	 	Delaware	 	100%
	Give, LLC	 	Delaware	 	100%
	Creatd Partners, LLC	 	Delaware	 	100%
	Denver Bodega , LLC	 	Colorado	 	100%
	Dune, Inc.	 	Delaware	 	50%
	Plant Camp, LLC	 	Delaware	 	89%
	Sci-Fi.com, LLC	 	Delaware	 	100%
	OG Gallery, LLC	 	Delaware	 	100%
	OG Collection, Inc.	 	Delaware	 	100%
	VMENA LLC	 	Delaware	 	100%
	Vocal For Brands, LLC	 	Delaware	 	100%
	Vocal Ventures, LLC	 	Delaware	 	100%
	What to Buy, LLC	 	Delaware	 	100%
	WHE Agency, Inc.	 	Delaware	 	44% economic ownership, 54% voting control

 

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Annex
1 to

SUBSIDIARY
GUARANTEE

 

ASSUMPTION
AGREEMENT, dated as of ,  made by Creatd, Inc., a Nevada corporation (the “Additional Guarantor”), in favor of the
Purchasers pursuant to the Purchase Agreement referred to below. All capitalized terms not defined herein shall have the meaning ascribed
to them in such Purchase Agreement.

 

W
I T N E S S E T H :

 

WHEREAS,
Creatd, Inc., a Nevada corporation (the “Company”) and the Purchasers have entered into a Securities Purchase Agreement,
dated as of September , 2022 (as amended, supplemented or otherwise modified from time to time, the “Purchase Agreement”);

 

WHEREAS,
in connection with the Purchase Agreement, the Subsidiaries of the Company (other than the Additional Guarantor) have entered into the
Subsidiary Guarantee, dated as of September , 2022 (as amended, supplemented or otherwise

modified
from time to time, the “Guarantee”) in favor of the Purchasers;

 

WHEREAS,
the Purchase Agreement requires the Additional Guarantor to become a party to the Guarantee; and

 

WHEREAS,
the Additional Guarantor has agreed toexecute and deliver this Assumption Agreement in order to become a party to the Guarantee;

 

NOW,
THEREFORE, IT IS AGREED:

 

1.
Guarantee. By executing and delivering this Assumption Agreement, the Additional Guarantor, as provided in Section 5(m) of the
Guarantee, hereby becomes a party to the Guarantee as a Guarantor thereunder with the same force and effect as if originally named therein
as a Guarantor and, without limiting the generality of the foregoing, hereby expressly assumes all obligations and liabilities of a Guarantor
thereunder. The information set forth in Annex 1 hereto is hereby added to the information set forth in Schedule 1 to the Guarantee.
The Additional Guarantor hereby represents and warrants that each of the representations and warranties contained in Section 3 of the
Guarantee is true and correct on and as the date hereof as to such Additional Guarantor (after giving effect to this Assumption Agreement)
as if made on and as of such date.

 

2.
Governing Law. THIS ASSUMPTION AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE
STATE OF NEW YORK.

 

    15

     

    

 

IN
WITNESS WHEREOF, the undersigned has caused this Assumption Agreement to be duly executed and delivered as of the date first above written.

 

	 	ADDITIONALGUARANTOR]	
	 	 	                                     	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

 

16

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