Document:

Exhibit 10.2

 

 

THIS
NOTE HAS NOT BEEN REGISTERED UNDER THE FEDERAL SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAW, AND MAY NOT BE TRANSFERRED
UNLESS AN EXEMPTION FROM SUCH REGISTRATION REQUIREMENTS IS AVAILABLE AND THE PROVISIONS OF SECTION  7
OF THIS NOTE ARE COMPLIED WITH.

 

 

PROMISSORY NOTE

 

 

	$2,000,000	Rochester, New York
	 	April 22, 2022

 

 

FOR VALUE RECEIVED, PeriShip Global LLC, a Delaware
limited liability company (“Payor”), promises to pay to the order of PeriShip, LLC, (the “Lender”)
the aggregate principal sum of Two Million and No/100 Dollars ($2,000,000.00) (the “Principal Amount”), together with
interest on the unpaid principal balance of this Promissory Note (this “Note”) from time to time outstanding at a fixed
rate per annum equal to six (6%) percent per annum (the “Stated Rate”). Upon occurrence of an Event of Default, as
hereinafter defined, interest shall accrue at the rate of ten (10%) percent per annum from the date of an Event of Default until all amounts
due and owing under this Note are paid in full.

 

1.       Interest
Payments. Accrued interest shall be payable on the Final Maturity Date.

 

2.       Principal
Payments. Payments of principal and interest of this Note shall be made in three installments with (a) the first installment, being
for the amount by which the principal amount of this Note exceeds $1,500,000, due on the date that is six (6) months after the date hereof,
(b) the second payment, being for the amount by which the principal amount of this Note exceeds $1,000,000, due on the date that is fifteen
(15) months after the date hereof, and (c) the third and final payment, being for all accrued interest and remaining principal, due on
the date that is eighteen (18) months after the date hereof. All payments shall be made by wire transfer of immediately available funds
in lawful money of the United States to an account designated by the Lender and shall be applied first to accrued interest and then to
the outstanding principal balance.

 

3.       Prepayment.
Payor reserves the right to prepay the principal of this Note in whole or in part without penalty at any time and from time to time. Any
prepayment shall be accompanied by accrued interest on the amount so prepaid. All such prepayments of principal shall reduce the principal
payment next due under this Note in the order of maturity. All prepayments shall be made by wire transfer of immediately available funds
in lawful money of the United States to an account designated by the Lender.

 

    	 		 

    	 

    

 

4.       Acceleration
for Default. Upon the occurrence of any Event of Default that is not cured as provided herein, the entire unpaid balance of principal
and accrued interest under this Note may be declared by the Lender to be and shall become immediately due and payable. The Lender will
promptly notify the Payor in the event the Lender elects to declare the entire unpaid balance of principal and accrued interest under
this Note immediately due and payable hereunder. As used herein, “Event of Default” means any of the following which
is not cured in the manner and within the time periods specified below:

 

(a)       any
failure of Payor to make any payment due under this Note within ten (10) business days following the due date thereof;

 

(b)       any
default under, or the breach of, any covenant, representation or warranty contained in this Note, or the occurrence of any event, which
with notice or lapse of time, would constitute a breach or default under this Note;

 

(c)       any order or judgment by a court of competent
jurisdiction or written agreement by Payor of material default or breach of Payor under that certain Asset Purchase Agreement of even
date pursuant to which Payor, among other things, acquired substantially all of the assets off Payor;

 

(d)       Payor shall make a general assignment for the
benefit of creditors; shall file a petition in bankruptcy; or shall be adjudicated bankrupt or insolvent; shall file a petition seeking
any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute,
law or regulation; shall file any answer admitting, or shall fail reasonably to contest, the material allegations of a petition filed
against it in any such proceedings; shall seek or consent to or acquiesce in the appointment of any trustee, receiver or liquidator of
it or any material part of its assets (the term “acquiesce” includes but is not limited to the failure to file a petition
or motion to vacate or discharge any order, judgment or decree within thirty (30) days after its entry); within sixty (60) days after
the commencement of any proceeding against such Payor seeking any reorganization, arrangement, composition, readjustment, liquidation,
dissolution or similar relief under any present or future statute, law or regulation, such proceeding shall not have been dismissed; or
within sixty (60) days after the appointment, without the consent or acquiescence of such Payor, of any trustee, receiver or liquidator
of such Payor or any material part of its assets, such appointment shall not have been vacated.

 

(e) Payor shall (i) enter into any transaction
or series of transactions to sell substantially all of the assets of Payor, or (ii) enter into any transaction or series of transactions
in which at the completion of such transaction or transactions, the current equity holders of Payor do not own at least fifty percent
(50%) of the voting power and ownership equity of Payor or of any surviving entity resulting from such transaction.

 

5.       Certain
Waivers. Payor expressly waives presentment, protest and demand, notice of protest, demand, dishonor and nonpayment of this Note and
all other notices of any kind, and agrees to pay all costs of collection when incurred, including reasonable attorneys’ fees.

 

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6.       Governing
Law. This Note shall be construed and enforced in accordance with the substantive laws of the State of Delaware, excluding such laws
as relate to the choice of law.

 

7.       Transfer
of Note. This Note and any interest herein may not be hypothecated, pledged, sold, distributed or otherwise transferred by the Lender
without the prior written consent of Payor. This Note and any obligations hereunder may not be assigned, hypothecated, sold, distributed
or otherwise transferred by Payor without the prior written consent of the Lender; provided however Payor may transfer or assign this
Note upon the dissolution of Payor.

 

8.       Binding
Effect. This Note shall be binding upon, inure to the benefit of and be enforceable by the permitted successors and assigns of Payor
and the Lender.

 

9.       Costs
of Collection and Enforcement. Payor shall pay the reasonable fees, costs and expenses (including reasonable attorney’s fees)
incurred by the Lender in the collection of and/or enforcing and/or collecting this Note.

 

[Signature page follows.]

 

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In
Witness Whereof, the undersigned has executed this Promissory Note as of the date first written above.

 

 

	 	PeriShip Global LLC
	 	 
	 	 
	 	By:	    /s/ Patrick White
	 	Name: Patrick White
 Title: Chief Executive Officer

 

 

 

[Signature page to Promissory Note]Exhibit 10.3

 

GUARANTY

 

THIS GUARANTY (this
“Guaranty”) is made as of the 22nd day of April, 2022, by VERIFYME, INC., a Nevada corporation having its principal
place of business located at 75 South Clinton Avenue, Suite 510, Rochester, New York 14604 (“Guarantor”), in favor
of PERISHIP, LLC, a Connecticut limited liability company having its principal offices located at 265 East Main Street, Branford, Connecticut
06405 (“Seller”).

 

RECITALS:

 

WHEREAS, pursuant to
an Asset Purchase Agreement dated April 22, 2022 (the “Purchase Agreement”) by and among the Seller, Luciano Morra,
PeriShip Global, LLC, a Delaware limited liability company (the “Buyer”), and Guarantor, Seller will sell to the Buyer,
and Buyer will purchase from the Seller, the Acquired Assets (as such term is defined in the Purchase Agreement), as more particularly
set forth in the Purchase Agreement; and

 

WHEREAS, the Guarantor
owns a one hundred (100%) percent membership interest in the Buyer; and

 

WHEREAS, Two Million
Dollars ($2,000,000) of the total consideration to be paid by Buyer for the Acquired Assets (the “Purchase Price”)
is payable in accordance with the terms and conditions of a certain Promissory Note of even date herewith made by the Buyer and delivered
to the Seller (the “Note”); and

 

WHEREAS, Seller requires
as a condition to accepting the Note as partial payment of the Purchase Price that Guarantor shall have executed and delivered this Guaranty
for the benefit of Seller; and

 

WHEREAS, the Guarantor
deems it to be to its financial advantage and benefit to execute, deliver and perform under this Guaranty; and

 

WHEREAS, the Guarantor
will materially benefit from the transactions contemplated under the Purchase Agreement.

 

NOW, THEREFORE, in
consideration of the premises and other good and valuable consideration, the receipt of which is hereby acknowledged, and in order to
induce Seller to extend credit to Buyer under the Note, Guarantor hereby represents, warrants and covenants to the Seller as follows:

 

1.       Obligations
Guaranteed.

 

(a)       Guarantor
unconditionally guarantees to Seller the prompt and unconditional payment of the Note and any interest thereon, whether now or hereafter
advanced, as the same shall become due and payable under the Note, whether at stated maturity, by acceleration or otherwise, and any and
all sums of money that, at the time, may have become due and payable under the provisions of the Note or this Guaranty (collectively,
“Loan Documents”), as well as, without limitation, all other loans, advances, indebtedness, notes, and liabilities
(collectively, the “Guaranteed Obligations”).

 

    	 	 	 

    	 

    

 

(b)       
Guarantor unconditionally guarantees to Seller payment in full of any and all expenses that may be paid or incurred by Seller in the collection
of all or any portion of the Guarantor’s obligations hereunder or the exercise or enforcement of any one or more of the other rights,
powers, privileges, remedies and interests of Seller under the Loan Documents including, without limitation, reasonable attorneys’
fees.

 

2.       Unconditional
Guaranty. This Guaranty is an absolute, irrevocable, unconditional, present and continuing guaranty of payment and performance and
not of collection and is in no way conditioned or contingent upon any attempt to enforce Seller’s rights against Buyer or to collect
from Buyer or upon any other condition or contingency; accordingly, Seller shall have the right to proceed against Guarantor immediately
upon any default by Buyer under the Note without taking any prior action or proceeding to enforce the Loan Documents or any of them. Until
such time as the Guaranteed Obligations are paid in full, Guarantor agrees not to assert any claim, remedy or other right which the Guarantor
may now have or hereafter acquire against Buyer or any other person obligated to pay Guaranteed Obligations arising out of the creation
or performance of the Guarantor’s obligation under this Guaranty, including, without limitation, any right of subrogation, contribution,
reimbursement, indemnification, exoneration, and any right to participate in any claim or remedy the Guarantor may have against Buyer,
collateral, or other party obligated for Buyer’s debts, whether or not such claim, remedy or right arises in equity, or under contract,
statute or common law. It is expressly understood that the waivers and agreements of Guarantor constitute additional and cumulative benefits
given to Seller for its security and as an inducement for its extension of credit to Buyer. Seller may at any time and from time to time
take any and/or all actions and enforce all rights and remedies available to Seller hereunder or under applicable law to collect from
Guarantor any amounts then due and payable hereunder by Guarantor and/or to cause Guarantor to fulfill his, her or its obligations hereunder.

 

3.       Liability
Unimpaired. Guarantor’s liability hereunder shall in no way be limited or impaired by, and Guarantor hereby consents to and
agrees to be bound by, any amendment or modification of the provisions of any of the Loan Documents, or any other instrument or agreement
made to or with Seller, by Buyer or Guarantor, or any Person (as hereafter defined) who succeeds to Buyer’s interests thereunder.
In addition, to the furthest extent permitted by law, Guarantor’s liability hereunder shall in no way be limited or impaired by
(i) any extensions of time for performance required by any of said documents, (ii) any sale, assignment or foreclosure of the Note, (iii)
any exculpatory provision in any of said documents limiting Seller’s rights to a deficiency judgment against Buyer, (iv) the release
of Buyer or any other person from performance or observance of any of the agreements, covenants, terms or conditions contained in any
of said documents including any other guarantor under this or any other guaranty, for any reason, including by Seller’s election,
by operation of law, or otherwise, by operation of law or otherwise, (v) Seller’s failure to file any UCC financing statements (or
Seller’s improper recording or filing of same) or to otherwise perfect, protect, secure or insure any security interest or lien
given as security for the Note, (vi) the invalidity, irregularity or unenforceability, in whole or in part, of any of the Loan Documents,
this Guaranty or any other instrument or agreement executed or delivered to Seller in connection with the Note, except to the extent that
there is a final adjudication by a court of competent jurisdiction of a valid defense to Buyer’s obligations under the Loan Documents
to payment of the indebtedness thereunder, (vii) the material inaccuracy of any of the representations and warranties made by Buyer in
the Loan Documents, or (viii) any other action or circumstance whatsoever that constitutes, or might be construed to constitute, a legal
or equitable discharge or defense (except full payment and satisfaction) of Buyer for its obligations under any of the Loan Documents
or of Guarantor under this Guaranty; and, in any such case, whether with or without notice to Guarantor and with or without consideration.
As used herein, “Person” shall mean any individual, corporation, partnership, limited liability company, joint venture,
estate, trust, unincorporated association, any other entity, any federal, state, county or municipal government or any bureau, department
or agency thereof, and any fiduciary acting in such capacity on behalf of any of the foregoing.

 

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4.       Preservation
of Loan Documents. Guarantor will cause Buyer to maintain and preserve the enforceability of the Loan Documents as the same may be
modified and will not permit Buyer to take or to fail to take actions of any kind which might be the basis for a claim that Guarantor
has a defense to Guarantor’s obligations hereunder.

 

5.       Certain
Waivers. To the furthest extent permitted by law, Guarantor (i) waives any right or claim of right to cause a marshalling of Buyer’s
assets or to cause Seller to proceed against any of the security for the Guaranteed Obligations before proceeding against Guarantor, (ii)
agrees that any payments required to be made by Guarantor hereunder shall become due on demand in accordance with the terms of Paragraph
1 hereof and without presentment to Buyer, demand for payment or protest, or notice of non-payment or protest, and (iii) except as hereinafter
provided, expressly waives and relinquishes all rights and remedies accorded by applicable law to guarantors. Without limiting the generality
of the foregoing, to the furthest extent permitted by law, Guarantor hereby waives all rights (x) to participate in any claim or remedy
Seller may now or hereafter have against Buyer or in any collateral that Seller now has or hereafter may acquire for the obligations guaranteed
hereby and (y) except as provided in Section 2 hereof, to contribution, indemnification, set-off, exoneration or reimbursement, whether
from Buyer, any guarantor, or any other person now or hereafter primarily or secondarily liable for any of Buyer’s obligations to
Seller, and whether arising by contract or operation of law or otherwise by reason of Guarantor’s execution, delivery or performance
of this Guaranty.

 

6.       Reinstatement.
This Guaranty shall continue to be effective, or be reinstated automatically, as the case may be, if at any time payment, in whole or
in part, of any of the Guaranteed Obligations is rescinded or otherwise must be restored or returned by Seller or any affiliate (whether
as a preference, fraudulent conveyance or otherwise) upon or in connection with the insolvency, bankruptcy, dissolution, liquidation or
reorganization of Buyer, Guarantor or any other person, or upon or as a result of the appointment of a receiver, intervenor or conservator
of, or trustee or similar officer for, Buyer, Guarantor or any other person or for a substantial part of Buyer’s, Guarantor’s
or any of such other person’s property, as the case may be, or otherwise, all as though such payment had not been made. Guarantor
further agrees that in the event any such payment is rescinded or must be restored or returned, all costs and reasonable expenses (including,
without limitation, reasonable legal fees and expenses) incurred by or on behalf of Seller in defending or enforcing such continuance
or reinstatement, as the case may be, shall constitute costs of enforcement, the payment of which is guaranteed by Guarantor pursuant
to Paragraph 1 above.

 

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7.       Representations
and Warranties. The Guarantor hereby represents and warrants that:

 

(a)       Enforceability;
No Conflicts. This Guaranty is a legal, valid and binding instrument, enforceable against Guarantor in accordance with its terms.
Guarantor represents and warrants with respect to itself that the consummation of the transactions contemplated hereby and the performance
of this Guaranty and the other Loan Documents to which Guarantor is a party have not resulted and will not result in any breach of, or
constitute a default under, any corporate charter, by-laws, partnership agreement or other instrument to which Guarantor is a party or
by which Guarantor may be bound or affected.

 

(b)       Solvency.
Guarantor, after giving effect to the transactions contemplated by this Guaranty (i) is solvent; (ii) has assets having a fair value in
excess of the amount required to pay its liabilities on existing debts as such debts become due and payable, and (iii) has, and expects
to continue to have, the ability to pay its debts from time to time incurred as such debts mature. Guarantor has not filed a voluntary
petition for bankruptcy and Guarantor has not received notice that an involuntary petition for bankruptcy, or assignment for the benefit
of creditors, or any other action involving debtor’s and creditor’s rights has been filed under the laws of the United States
of America or any state thereof, or has been threatened against Guarantor.

 

(c)       Information
Complete. Subject to any limitations stated in writing therein or in connection therewith, all information furnished or to be furnished
by Guarantor to Seller, taken as a whole, is, or will be at the time the same is furnished, accurate and complete in all material respects
necessary in order to make the information furnished, in the light of the circumstances under which such information is furnished, not
misleading.

 

(d)       Litigation.
There are no proceedings by or before any private, public or governmental body, agency or authority and no litigation is pending, or,
so far as is known to Guarantor is threatened against Guarantor as would materially and adversely affect Guarantor’s ability to
satisfy its obligations under this Guaranty or any of the Loan Documents.

 

(e)       Compliance
with Laws. Guarantor represents and warrants that Guarantor is in compliance with, and the transactions contemplated by the Loan Documents
and this Guaranty do not and will not violate any provision of, or require any filing, registration, consent or approval under, any federal,
state or local law, rule, regulation, ordinance, order, writ, judgment, injunction, decree, determination or award (hereinafter, “Laws”)
presently in effect having applicability to Guarantor, and agrees that Guarantor will comply promptly with all laws now or hereafter in
effect having applicability to Guarantor.

 

8.       Non-Waiver
Remedies Cumulative. No failure or delay on Seller’s part in exercising any right, power or privilege under any of the Loan
Documents, this Guaranty or any other document made to or with Seller in connection with the Loans or shall operate as a waiver of any
such privilege, power or right or shall be deemed to constitute Seller’s acquiescence in any default by Buyer or Guarantor under
any of said documents. A waiver by Seller of any right or remedy under any of the Loan Documents, this Guaranty or any other document
made to or with Seller in connection with the Loan. The rights and remedies provided in said documents are cumulative, may be exercised
singly or concurrently and are not exclusive of any rights or remedies provided by law.

 

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9.       Severability.
Any provision of this Guaranty, or the application thereof to any person or circumstance, that, for any reason, in whole or in part, 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 of this Guaranty (or the remaining portions of such provision) or the application thereof
to any other person or circumstance, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable
such provision (or portion thereof) or the application thereof to any person or circumstance in any other jurisdiction.

 

10.       Entire
Agreement; Amendments. This Guaranty contains the entire agreement of the parties with respect to the subject matter hereof and supersedes
all prior oral or written agreements or statements relating to such subject matter, and none of the terms and provisions hereof may be
waived, amended or terminated except by a written instrument signed by the Person against whom enforcement of the waiver, amendment or
termination is sought.

 

11.       Successors
and Assigns. This Guaranty shall be binding upon and shall inure to the benefit of Seller and Guarantor and their respective successors
and assigns. This Guaranty may be assigned by Seller with respect to all or any portion of the Guaranteed Obligations, and when so assigned
Guarantor shall be liable under this Guaranty to the assignee(s) of the portion(s) of the Guaranteed Obligations so assigned without in
any manner affecting the liability of Guarantor hereunder to Seller with respect to any portion of the obligations guaranteed hereby retained
by Seller.

 

12.       WAIVER
OF TRIAL BY JURY. GUARANTOR, AND BY THE ACCEPTANCE HEREOF, SELLER, EACH HEREBY AGREES NOT TO ELECT A TRIAL BY JURY OF ANY ISSUE TRIABLE
OF RIGHT BY JURY, AND WAIVE ANY RIGHT TO TRIAL BY JURY FULLY TO THE EXTENT THAT ANY SUCH RIGHT SHALL NOW OR HEREAFTER EXIST WITH REGARD
TO THE LOAN DOCUMENTS OR ANY CLAIM, COUNTERCLAIM OR OTHER ACTION ARISING IN CONNECTION THEREWITH. THIS WAIVER OF RIGHT TO TRIAL BY JURY
IS GIVEN KNOWINGLY AND VOLUNTARILY BY GUARANTOR AND SELLER AND IS INTENDED TO ENCOMPASS INDIVIDUALLY EACH INSTANCE AND EACH ISSUE AS TO
WHICH THE RIGHT TO A TRIAL BY JURY WOULD OTHERWISE ACCRUE. GUARANTOR AND SELLER ARE EACH HEREBY AUTHORIZED TO FILE A COPY OF THIS PARAGRAPH
IN ANY PROCEEDING AS CONCLUSIVE EVIDENCE OF THIS WAIVER.

 

13.       ADDITIONAL
WAIVERS IN THE EVENT OF ENFORCEMENT. GUARANTOR HEREBY EXPRESSLY AND UNCONDITIONALLY WAIVES, IN CONNECTION WITH ANY SUIT, ACTION OR
PROCEEDING BROUGHT BY OR ON BEHALF OF SELLER ON THIS GUARANTY, ANY AND EVERY RIGHT GUARANTOR MAY HAVE TO (I) INJUNCTIVE RELIEF, (II) INTERPOSE
ANY COUNTERCLAIM THEREIN (OTHER THAN COMPULSORY COUNTERCLAIMS), AND (III) HAVE THE SAME CONSOLIDATED WITH ANY OTHER OR SEPARATE SUIT,
ACTION OR PROCEEDING. NOTHING HEREIN CONTAINED SHALL PREVENT OR PROHIBIT GUARANTOR FROM INSTITUTING OR MAINTAINING A SEPARATE ACTION AGAINST
SELLER WITH RESPECT TO ANY ASSERTED CLAIM; (IV) ANY DEFENSES OF A SURETY OR RELATING TO IMPAIRMENT OF COLLATERAL AND/OR ANY ACT OR OMISSION
BY THE SELLER WHICH INCREASES THE SCOPE OF THE GUARANTOR’S RISK HEREUNDER, INCLUDING, WITHOUT LIMITATION ANY NEGLIGENT SERVICING
OR ADMINISTRATION OF THE BUYER’S OBLIGATIONS OR OTHER LIABILITIES OR FAILURE OF SELLER TO EXERCISE ANY OR ALL OF ITS RIGHTS OR REMEDIES
AGAINST ANY PARTY, INCLUDING, WITHOUT LIMITATION, THE BUYER AND/OR ANY OTHER GUARANTOR.

 

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14.       Governing
Law; Submission to Jurisdiction. This Guaranty and the rights and obligations of the parties hereunder shall in all respects be governed
by, and construed and enforced in accordance with, the laws of the State of Delaware. Guarantor hereby irrevocably submits to the nonexclusive
jurisdiction of any state or federal court sitting in the State of Delaware over any suit, action or proceeding arising out of or relating
to this Guaranty, and Guarantor hereby agrees and consents that, in addition to any methods of service of process provided for under applicable
law, all service of process in any such suit, action or proceeding in any Delaware state or federal court may be made by certified or
registered mail, return receipt requested, directed to the Guarantor at the address indicated below, and service so made shall be complete
five (5) days after the same shall have been so mailed.

 

15.       Paragraph
Headings. Any paragraph headings and captions in this Guaranty are for convenience only and shall not affect the interpretation or
construction hereof.

 

16.       Liability
Unaffected by Release. Any other Person liable upon or in respect of any Guaranteed Obligations may be released without affecting
the liability of Guarantor hereunder.

 

17.       Notices.
All notices and other communications to be given to any party under this Guaranty shall be in writing and any such notice shall be deemed
given (a) on the date of actual delivery or rejection of delivery, if by hand or by recognized overnight delivery service, (b) when confirmed
as received, if by facsimile, or (c) three days after being mailed, if by registered or certified United States mail, postage prepaid,
return receipt requested, and shall be directed to the address or facsimile of such party specified below (or at such other address or
facsimile number as such party shall designate by like notice):

 

	 	If to Guarantor:	 	VerifyMe, Inc.
	 	 	 	75 South Clinton Avenue, Suite 510
	 	 	 	Rochester, New York 14604
	 	 	 	Attn: Patrick White
	 	 	 	Email: [______________]

 

	 	with a copy to:	 	Harter Secrest & Emery LLP
	 	 	 	1600 Bausch & Lomb Place
	 	 	 	Rochester, New York 14604
	 	 	 	Attn:  Alexander R. McClean, Esq.
	 	 	 	Email: [_________________]
	 	 	 	Phone: [____________]

 

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	 	If to Seller:	 	Periship, LLC
	 	 	 	[____________]
	 	 	 	[____________]
	 	 	 	Attn:  Luciano Morra
	 	 	 	Email: [_____________]
	 	 	 	Phone:  [_____________]

 

	 	with a copy to:	 	Green & Sklarz LLC
	 	 	 	One Audubon Street
	 	 	 	New Haven, CT 06511
	 	 	 	Attn:  Mark G. Sklarz
	 	 	 	Email: [________________]
	 	 	 	Phone: [________________]

 

18.       Principles
of Construction. All references to sections, paragraphs, schedules and exhibits are to sections, schedules and exhibits in or to this
Guaranty unless otherwise specified. Unless otherwise specified, the words “hereof,” “herein” and “hereunder”
and words of similar import when used in this Guaranty shall refer to this Guaranty as a whole and not to any particular provision of
this Guaranty. The recitals to this Guaranty shall be deemed a part hereof and all exhibits and schedules attached hereto, if any, are
incorporated herein by reference for all purposes. Unless otherwise specified, all meanings attributed to defined terms herein shall be
equally applicable to both the singular and plural forms of the terms so defined and “including” means including without limitation.
Whenever the context requires, each gender shall include all other genders.

 

19.       Advice
of Counsel. By his execution and delivery of this Guaranty, the Guarantor accepts, agrees and acknowledges that he has received a
complete copy of this Guaranty Agreement, the Note and all other Loan Documents and has had an opportunity to review said Guaranty, Note
and Loan Documents with its counsel and ask questions regarding the same prior to execution and delivery of this Guaranty.

 

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF, Guarantor has caused
this Guaranty to be duly executed and delivered by its duly authorized official as of the date first above stated.

 

 

	 	VERIFYME, INC.
	 	 	 
	 	 	 
	 	By:	/s/ Patrick White
	 	 	Name: Patrick White
	 	 	Title: Chief Executive Officer

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