Document:

Exhibit 10.17

FORM OF CONTRIBUTION AGREEMENT

 

by and among

 

PHCC OP LP;

 

PRESTON HOLLOW CAPITAL, LLC;

 

and solely for purposes of Sections 2.1(f),
4.3 and 7.3

 

PRESTON HOLLOW COMMUNITY CAPITAL, INC.

 

 

July [●], 2021

 

     

     

    

 

THIS
CONTRIBUTION AGREEMENT (this "Agreement") is dated as of this ____ day of July, 2021 (the "Effective
Date"), by and among the following parties:

 

1.            Preston
Hollow Capital, LLC, a Delaware limited liability company (the "Contributor");

 

2.            PHCC
OP LP, a Delaware limited partnership (the "Operating Partnership"); and

 

3.            solely
for purposes of Sections 2.1(f), 4.3 and 7.3, Preston Hollow Community Capital, Inc. (the "Corporation").

 

RECITALS

 

		(A)	The Corporation intends to conduct an initial public offering (the "IPO") of its shares
of Class A common stock, par value $0.01 per share ("Class A Common Stock").

 

		(B)	In connection with the IPO, the Corporation and the Operating Partnership desire to engage in a series
of transactions through which the Corporation and the Operating Partnership will consolidate their ownership of an initial portfolio of
assets.

 

		(C)	The Contributor currently (i) beneficially and legally owns (x) 100% the limited liability company
interests in each of the entities listed in Part 1-A of Exhibit A, (y) the portion of the limited liability company
interests in the entity listed in Part 1-B of Exhibit A (interests described in clauses (x) and (y), collectively,
the "LLC Interests", and the entities listed in Part 1-A and Part 1-B of Exhibit A, the "Existing
LLCs"), and (z) 100% of the common stock (the "Shares") in the entity listed in Part 2 of Exhibit A
(the "Existing Corporation"), and (ii) owns the subordinated equity in the trusts (the "Trust Interests"
and, collectively with the LLC Interests and Shares, the "Contributed Interests") listed in Part 3 of Exhibit A
(the "Existing Trusts" and, collectively with the Existing LLCs and Existing Corporation, the "Existing Entities").

 

		(D)	The Contributor owns all of the rights and interests in and to the assets listed in Exhibit B
attached hereto (collectively, the "Contributed Assets").

 

		(E)	The Existing Entities set forth on Exhibit C own certain investments in Qualified Opportunity
Zones. The Contributed Interests with respect to such Existing Entities shall be referred to as the "Contributed QOF Interests"
and the Contributed Interests that are not Contributed QOF Interests shall be referred to as the "Other Contributed Interests"
herein.

 

		(F)	On the terms and subject to the conditions of this Agreement, the parties desire that (x) the Contributor
contribute the Contributed QOF Interests to the Operating Partnership, and the Operating Partnership (or its designee designated in accordance
with Section 2.1(g)) accept all rights and interest in and to the Contributed QOF Interests from the Contributor and, in exchange
therefor, that the Operating Partnership issue to the Contributor Class A limited partnership units in the Operating Partnership
("Class A OP Units") and (y) the Contributor contribute the Other Contributed Interests and the Contributed
Assets to the Operating Partnership, and the Operating Partnership (or its designee designated in accordance with Section 2.1(f))
accept all rights and interest in and to the Other Contributed Interests and Contributed Assets from the Contributor and, in exchange
therefor, that the Operating Partnership issue to the Contributor Class A OP Units and Class B limited partnership units in
the Operating Partnership ("Class B OP Units" and, together with the Class A OP Units, "OP Units")
and that the Operating Partnership (or its designee designated in accordance with Section 2.1(g)) assume the liabilities of the Contributor
set forth on Exhibit D (the "Assumed Liabilities"). The Contributor shall contribute to a wholly-owned subsidiary
of the Contributor (the "Contributor Subsidiary") the Class A OP Units issued to it as consideration for its contribution
of the Contributed QOF Interests to the Operating Partnership.

 

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		(G)	Each of the parties hereto acknowledges and agrees that the other parties hereto would not be entering
into this Agreement and the First Amended and Restated Agreement of Limited Partnership of the Operating Partnership (the "Partnership
Agreement") without the representations, warranties and covenants which are being made and agreed to herein by each party hereto
and that such parties are entering into this Agreement in reliance on such representations, warranties and covenants.

 

NOW,
THEREFORE, in consideration of mutual promises and other good and valuable consideration, the receipt and sufficiency which
are hereby mutually acknowledged, the parties hereto agree as follows:

 

Article 1

Definitions

 

1.1.            Rules of
Application. The definitions in the recitals and elsewhere in this Agreement shall apply equally to both the singular and plural
forms of the terms defined. Whenever the context may require, any pronoun used herein shall include the corresponding masculine, feminine
and neuter forms. The words "include," "includes" and "including" shall be deemed to be followed by the
phrase "without limitation." The words "herein," "hereof," "hereunder," and similar terms shall
refer to this Agreement, unless the context otherwise requires. The word "will" shall be construed to have the same meaning
and effect as the word "shall." Unless the context requires otherwise: (a) any definition of or reference to any agreement,
instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time
amended, restated, supplemented, modified or otherwise changed (subject to any restrictions on such amendments, restatements, supplements,
modifications or changes set forth herein); and (b) any reference herein to any person shall be construed to include such person's
successors and permitted assigns. All references herein to Articles, Sections, and Exhibits shall be construed to refer to Articles and
Sections of, and Exhibits to, this Agreement. The Exhibits attached hereto are hereby incorporated herein and shall be deemed a part of
this Agreement. As used herein, the word "or" shall not be exclusive. As used in this Agreement, the following terms shall have
the meanings set forth in this Section 1.1.

 

"Benefit Plan" means
any contract, agreement, policy, practice, program, plan, trust, commitment or arrangement providing for benefits, perquisites or compensation
of any nature to any employee, or to any family member, dependent, or beneficiary of any such employee, including pension plans, thrift
plans, deferred compensation plans, supplemental pension plans and welfare plans, and contracts, agreements, policies, practices, programs,
plans, trusts, commitments and arrangements providing for terms of employment, fringe benefits, severance benefits, change in control
protections or benefits, travel and accident, life, disability and accident insurance, tuition reimbursement, travel reimbursement, vacation,
sick, personal or bereavement days, leaves of absences and holidays of Contributor or Operating Partnership, as applicable.

 

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"Contributor Employee"
means any individual who is employed by the Contributor or its affiliates immediately prior to the Closing.

 

"FMLA" means the U.S.
Family and Medical Leave Act of 1993, as amended, and the regulations promulgated thereunder.

 

"HIPAA" means the U.S.
Health Insurance Portability and Accountability Act of 1996, as amended, and the regulations promulgated thereunder.

 

"Permitted Liens" means,
collectively, (i) with respect to the Contributed Interests, restrictions on transfer under generally applicable securities laws
and Liens approved in writing by the Operating Partnership or arising under this Agreement or the Related Agreements and (ii) with
respect to the Contributed Assets, (A) Liens approved in writing by the Operating Partnership or arising under this Agreement or
any Related Agreement, (B) statutory Liens arising out of operation of law with respect to a liability incurred in the ordinary course
of business, (C) Liens and other imperfections to title that do not materially detract from the value or materially impair the use
of the property subject thereto or make such property unmarketable or uninsurable, (D) with respect to real property, (1) easements,
declarations, covenants, rights-of-way, restrictions and other charges, instruments or encumbrances that are recorded against title to
real property, (2) zoning ordinances, variances, conditional use permits and similar regulations, permits, approvals and conditions,
(E) Liens for taxes, assessments or other governmental charges or levies that are not yet due or payable, (F) mechanics', materialmen's,
carriers', workmen's, repairmen's landlords' or other similar Liens and security obligations, (G) Liens arising under original purchase
price conditional sales contracts and equipment leases with third parties entered into in the ordinary course of business, and (H) Liens
disclosed in Schedule 2.1(a).

 

"Related Agreements"
means, collectively, the Partnership Agreement, the Tax Receivables Agreement (as defined in Section 3.2(e)), the Registration Rights
Agreement (as defined Section 3.2(e)), the Contributor Interest Agreement (as defined in Section 3.2(a)), the Assignment and
Assumption Agreement (as defined in Section 3.2(b)), the Shared Resources Agreement (as defined Section 3.2(e)), the Trademark
Assignment Agreement (as defined in Section 3.2(c)) and each Lease Assignment Agreement (as defined in Section 3.2(e)).

 

Article 2

Contributions, Assumptions of Liabilities and Related Matters

 

2.1.            Contributions
and Assumption of Liabilities; Exchange of OP Units.

 

(a)            On
the terms and subject to the conditions of this Agreement, the Contributor shall contribute and transfer the Contributed QOF Interests
to the Operating Partnership (or a subsidiary designated in accordance with Section 2.1(g)), in each case free and clear of all liens,
mortgages, pledges, hypothecations, security interests, prior assignments or conveyances, restrictions, reservations and encumbrances
whatsoever and all other defects or imperfections in title (collectively, "Liens"), other than Permitted Liens.

 

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(b)            In
consideration of such contribution and transfer described in Section 2.1(a), and in reliance on the representations and warranties
of the Contributor contained in or made pursuant to the terms of this Agreement, the Operating Partnership shall issue to the Contributor
[●] Class A OP Units (the "Contributed QOF Interest Consideration").

 

(c)            Following
its receipt of the Class A OP Units pursuant to Section 2.1(b), the Contributor shall contribute the Contributed QOF Interest
Consideration to the Contributor Subsidiary as a contribution in-kind.

 

(d)            Following
the transactions described in Sections 2.1(a), 2.1(b) and 2.1(c), on the terms and subject to the conditions of this Agreement, the
Contributor shall contribute and transfer the Other Contributed Interests and the Contributed Assets to the Operating Partnership (or
a subsidiary designated in accordance with Section 2.1(g)), in each case free and clear of all Liens other than Permitted Liens.
For the avoidance of doubt, any and all assets of the Contributor that are not Contributed Assets (the "Retained Assets")
shall include those assets set forth on Schedule 2.1(d) and Retained Assets shall not be contributed or transferred in any
manner or form to the Operating Partnership.

 

(e)            In
consideration of such contribution and transfer described in Section 2.1(d), and in reliance on the representations and warranties
of the Contributor contained in or made pursuant to the terms of this Agreement (i) the Operating Partnership shall issue to the
Contributor [●] Class A OP Units and [●]
Class B OP Units and (ii) the Operating Partnership (or a subsidiary designated in accordance with Section 2.1(g)) shall
assume and agree to pay, discharge, perform or otherwise satisfy, the Assumed Liabilities. No liabilities of the Contributor shall be
assumed at the Closing by the Operating Partnership except for the Assumed Liabilities. The Contributor shall retain and pay, discharge,
perform or otherwise satisfy, when due, all of its liabilities that are not Assumed Liabilities. For the avoidance of doubt, any liabilities
under or in connection with the Contributor's 2015 Restricted Equity Incentive Plan (as amended) are not Assumed Liabilities.

 

(f)            Following
the transactions described in Section 2.1(d) and Section 2.1(e), the Contributor shall transfer the Class B OP Units
issued to it pursuant to Section 2.1(e) to the Corporation and, as consideration therefor, the Corporation shall issue to the
Contributor [●] shares of Class B common stock of the Corporation,
par value $0.01 per share ("Class B Common Stock").

 

(g)            The
Operating Partnership shall have the right to designate a direct or indirect wholly-owned subsidiary of the Operating Partnership to receive
all or any portion of the Contributed Interests or the Contributed Assets at the Closing, or to assume all or any portion of the Assumed
Liabilities at the Closing, provided that no such designation shall in any way affect or diminish the Operating Partnership's obligations
or responsibilities under this Agreement.

 

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(h)            To
the extent that the Contributor's rights under any contracts or other assets constituting a Contributed Asset, or any other Contributed
Asset, may not be assigned to the Operating Partnership without the consent of another person which has not been obtained, this Agreement
shall not constitute an agreement to assign the same if an attempted assignment would constitute a breach thereof or be unlawful, and
the Contributor, at its expense, shall use its commercially reasonable efforts to obtain any such required consent(s) as promptly
as possible. If any such consent shall not be obtained or if any attempted assignment would be ineffective or would impair the Operating
Partnership's rights under such Contributed Asset so that the Operating Partnership would not in effect acquire the benefit of all such
rights, the Contributor, to the maximum extent permitted by law and such Contributed Asset, shall act after the Closing as the Operating
Partnership's agent in order to obtain for it the benefits thereunder and shall cooperate, to the maximum extent permitted by law and
such Contributed Asset, with the Operating Partnership in any other reasonable arrangement designed to provide such benefits to the Operating
Partnership. Notwithstanding any provision in this Section 2.1(h) to the contrary, the Operating Partnership shall not be deemed
to have waived its rights under Section 3.1 hereof unless and until the Operating Partnership either provides written waivers thereof
or elects to proceed to consummate the transactions contemplated by this Agreement at Closing.

 

2.2.            Closing
Date. Unless this Agreement is sooner terminated or extended pursuant to its terms, or unless otherwise agreed to in writing by
the Contributor and the Operating Partnership, the closing of the transactions contemplated by this Agreement (the "Closing")
shall take place concurrently with the closing of the IPO or on such date as the Contributor and the Operating Partnership may otherwise
agree in writing (the "Closing Date").

 

2.3.            Termination.
Notwithstanding anything to the contrary contained herein or in any Related Agreement, this Agreement may be terminated at any time prior
to the Closing by the written mutual consent of all of the parties hereto. Upon a termination of this Agreement pursuant to the provisions
of this Section 2.3, Section 6.1, or Section 6.2, this Agreement forthwith shall become void and there shall be no liability
or further obligation under or in respect of this Agreement on the part of the Operating Partnership, the Contributor or their affiliates
or their respective officers, directors, members, partners or shareholders of any of the foregoing, except to the extent that any right,
obligation and/or liability set forth herein expressly survives the termination of this Agreement.

 

2.4.            Grant
of Power of Attorney to General Partner of the Operating Partnership. By executing this Agreement, the Contributor hereby irrevocably
constitutes and appoints PHCC GP, LLC, in its capacity as the general partner of the Operating Partnership (the "General
Partner") (or a substitute appointed by the General Partner) as its attorney-in-fact, proxy and agent with full power of substitution
on the terms and for the purposes set forth in Section 2.04 of the Partnership Agreement and to take any and all actions and execute
and deliver any of the following agreements on the Contributor's behalf and in the Contributor's name: (a) the Partnership Agreement
and any amendment to the Partnership Agreement entered into in connection with the transactions contemplated in this Agreement or the
Related Agreements (as described herein) (including the power of attorney included in the Partnership Agreement); (b) the Contributor
Interest Assignment; and (c) any other Related Agreements on the Contributor's behalf and in the Contributor's name, as may be deemed
by the General Partner as necessary or desirable to effectuate the transactions contemplated in this Agreement or the Related Agreements,
and the other transactions described herein or therein. The Contributor hereby grants to each attorney-in-fact full power and authority
to do and perform each and every act and thing which may be necessary, or convenient, in connection with the foregoing, as fully, to all
intents and purposes, as the undersigned might or could do if personally present, hereby ratifying and confirming all that such attorney-in-fact
shall lawfully do or cause to be done by authority hereof. Such power-of-attorney shall be deemed to be coupled with an interest and shall
be irrevocable and shall survive the dissolution of the Contributor.

 

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2.5.            Tax
Treatment. The parties intend that (x) the transactions contemplated by Sections 2.1(a), 2.1(b), 2.1(d), and 2.1(e) shall
be treated as a contribution by the Contributor of the Contributed Interests and the Contributed Assets to the Operating Partnership in
exchange for OP Units in a transaction qualifying under Section 721 of the Internal Revenue Code of 1986, as in effect from time
to time (the "Code"), (y) the transactions contemplated by Section 2.1(c) shall be treated as a contribution
by the Contributor of the Contributed QOF Interest Consideration to Contributor Subsidiary in a transaction qualifying under Section 721
of the Code, and (z) the transactions contemplated by Sections 2.1(f) shall be treated as a contribution by the Contributor
of Class B OP Units to the Corporation in exchange for Class B Common Stock in a transaction (together with the Corporation's
issuance of Class A Common Stock in the IPO) qualifying under Section 351 of the Code. The Contributor and the Operating Partnership
hereby agree to the U.S. federal income tax treatment described in this Section 2.5, and neither the Contributor nor the Operating
Partnership shall maintain a position on their respective U.S. federal, state or local income Tax Returns that is inconsistent therewith.

 

2.6.            Withholding.
The Operating Partnership shall be entitled to deduct and withhold from any portion of the consideration paid to the Contributor such
amount as it is required to deduct and withhold from such payment under the Code or any provision of U.S. federal, state, local or foreign
tax law. To the extent that amounts are withheld by the Operating Partnership, such amounts shall be treated for all purposes of this
Agreement as having been paid to the Contributor in respect of which such deduction and withholding was made by the Operating Partnership.
The parties shall cooperate to use reasonable efforts to minimize or eliminate any potential withholding.

 

Article 3

Conditions and Closing Deliverables

 

3.1.            Conditions
to the Operating Partnership's Obligations. The obligation of the Operating Partnership to consummate the transactions contemplated
hereunder shall be subject to the satisfaction or waiver by the Operating Partnership, on or before the Closing Date, of each of the conditions
set forth below in this Section 3.1.

 

(a)            Accuracy
of Representations and Warranties. The representations and warranties of the Contributor contained herein shall be true, correct
and complete as of the Effective Date and as of the Closing Date as if made again at that time.

 

(b)            Performance
of Obligations. The Contributor shall have performed in all material respects all obligations that are required to be performed
by it at or prior to the Closing Date.

 

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(c)            Contributor
Deliveries. On the Closing Date, the Contributor shall have executed (as applicable) and delivered the items set forth in Section 3.2.

 

(d)            Consents.
The Contributor shall have obtained and delivered to the Operating Partnership any consents or approvals of any Governmental Entity or
third parties (including any lenders and landlords) required to consummate the transactions contemplated by this Agreement. As used herein,
the term "Governmental Entity" means any governmental agency or quasi-governmental agency, bureau, board, commission,
court, department, official, political subdivision, tribunal or other instrumentality of any government, whether federal, state or local,
domestic or foreign.

 

3.2.            Delivery
of Contributor Documents. At the Closing, the Contributor shall execute (as applicable) and deliver to the Operating Partnership
the following:

 

(a)            Contributor
Interest Assignment. A counterpart signature page duly executed by the Contributor to an assignment of the Contributed QOF
Interests and a counterpart signature page duly executed by the Contributor to an assignment of the Other Contributed Interests,
each in the form attached to this Agreement as Exhibit E (the "Contributor Interest Assignment").

 

(b)            Assignment
and Assumption Agreement. A counterpart signature page duly executed by the Contributor to an assignment and assumption and
bill of sale with respect to the Contributed Assets and the Assumed Liabilities in the form attached to this Agreement as Exhibit F
(the "Assignment and Assumption Agreement").

 

(c)            Trademark
Assignment Agreement. A counterpart signature page duly executed by the Contributor to a trademark assignment with respect
to the transfer of trademarks that constitute the Contributed Assets in the form attached to this Agreement as Exhibit G (the
 "Trademark Assignment Agreement").

 

(d)            Partnership
Agreement. A counterpart signature page duly executed by the Contributor to the Partnership Agreement or such other documentation
evidencing the Contributor's agreement to be bound by the terms and conditions of the Partnership Agreement as may be reasonably requested
by the Operating Partnership.

 

(e)            Lease
Assignment Agreement. A counterpart signature page duly executed by to the Contributor to each lease assignment agreement
for the assignment and assumption of each Office Lease in the form attached hereto as Exhibit H (each, a "Lease Assignment
Agreement").

 

(f)            Other
Agreements. Counterpart signature pages duly executed by the Contributor to each of the Shared Resources and Cooperation
Agreement between the Corporation and the Contributor, dated as of the Closing (the "Shared Resources Agreement"), the
Tax Receivables Agreement by and among the Corporation, the Contributor and the Operating Partnership, dated as of the Closing (the "Tax
Receivables Agreement") and the Registration Rights Agreement by and among, among others, the Corporation and the Contributor,
dated as of the Closing (the "Registration Rights Agreement").

 

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(g)            Other
Documents. Such other documents, instruments, consents, authorizations, certificates or approvals as may be required by, and reasonably
satisfactory to, the Operating Partnership that may be reasonably necessary or desirable to confirm satisfaction of all conditions to
the Closing, to consummate the transactions that are the subject of this Agreement and the Related Agreements and to otherwise effect
the agreements of the parties hereto, including as required under this Section 3.2.

 

3.3.            Conditions
to the Obligations of the Contributor. The obligation of the Contributor to consummate the transactions contemplated by this Agreement
is subject to the satisfaction or waiver by the Contributor, on or before the Closing Date, of each of the conditions set forth below.

 

(a)            The
Operating Partnership Deliveries. On the Closing Date, the Operating Partnership shall have executed (as applicable) and delivered
the items set forth in Section 3.4.

 

(b)            Accuracy
of Representations and Warranties. All representations and warranties of the Operating Partnership contained herein shall be true,
correct and complete in all material respects as of the Closing Date as if made at that time.

 

(c)            Performance
of Obligations. The Operating Partnership shall have performed in all material respects all obligations that are required to be
performed by it at or prior to the Closing Date.

 

3.4.            Delivery
of the Operating Partnership Documents. At the Closing, the Operating Partnership shall execute, satisfy and/or deliver (or cause
to be delivered) to the Contributor, as applicable, the following:

 

(a)            Contributor
Interest Assignment. A counterpart signature page duly executed by the Operating Partnership (or its designee designated
in accordance with Section 2.1(g)) to each of the Contributor Interest Assignments.

 

(b)            Assignment
and Assumption Agreement. A counterpart signature page duly executed by the Operating Partnership (or its designee designated
in accordance with Section 2.1(g)) to the Assignment and Assumption Agreement.

 

(c)            Trademark
Assignment Agreement. A counterpart signature page duly executed by the Operating Partnership (or its designee designated
in accordance with Section 2.1(g)) to the Trademark Assignment Agreement.

 

(d)            Lease
Assignment Agreement. A counterpart signature page duly executed by the Operating Partnership (or its designee designated
in accordance with Section 2.1(g)) to each Lease Assignment Agreement.

 

(e)            The
OP Units. Evidence that the OP Units have been issued to the Contributor in accordance with the terms and conditions hereof.

 

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(f)            Partnership
Agreement. A true and complete copy of the Partnership Agreement, which shall then be in full force and effect.

 

(g)            Other
Agreements. Counterpart signature pages duly executed by the Corporation to each of the Shared Resources Agreement, the Tax
Receivables Agreement, and the Registration Rights Agreement.

 

(h)            Other.
Such other documents, instruments, consents, authorizations, certificates or approvals as may be required by, and reasonably satisfactory
to, the Contributor that may be reasonably necessary or desirable to confirm satisfaction of all conditions to the Closing, to consummate
the transactions that are the subject of this Agreement and the Related Agreements and to otherwise effect the agreements of the parties
hereto.

 

Article 4

Representations and Warranties

 

4.1.            Representations
and Warranties of the Contributor. The Contributor hereby represents and warrants to the Operating Partnership as of the Effective
Date and as of the Closing Date, as follows:

 

(a)            Existence
and Power. The Contributor has been duly formed as a limited liability company and is validly existing and in good standing under
the laws of the State of Delaware. The Contributor has all power and authority to enter into this Agreement and all other documents to
be executed and delivered in connection with the transactions that are the subject of this Agreement, including the Partnership Agreement
and the Related Agreements, to the extent they are to be executed by the Contributor, and to deliver and to perform its obligations hereunder
and under all other documents to be executed and delivered in connection with the transactions that are the subject of this Agreement,
including all Related Agreements, to the extent they are to be executed by the Contributor.

 

(b)            Existing
Entity Status/Organizational Documents.

 

(i)            Each
Existing LLC is a limited liability company duly formed, validly existing and in good standing under the laws of its jurisdiction of formation.
Each Existing LLC has the requisite power and authority to carry on its business as now being conducted.

 

(ii)            The
Existing Corporation is a corporation duly incorporated, validly existing and in good standing under the laws of its jurisdiction of incorporation.
The Existing Corporation has the requisite power and authority to carry on its business as now being conducted.

 

(iii)            Each
Existing Trust is a trust duly formed, validly existing and in good standing under the laws of its jurisdiction of organization. Each
Existing Trust has the requisite power and authority to carry on its business as now being conducted.

 

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(c)            Authorization;
No Contravention. The execution and delivery of this Agreement and the Related Agreements to which it is a party by the Contributor
and the performance of its obligations under each of the foregoing has been duly authorized by all requisite organizational action, and
all necessary authorizations, consents, approvals, elections and waivers relating thereto have been obtained as of the Closing Date.
This Agreement has been, and the Related Agreements shall on the Closing Date have been, duly executed and delivered by the Contributor.
This Agreement and the Related Agreements constitute the valid, legal and binding obligations of the Contributor, enforceable against
the Contributor in accordance with their respective terms, subject, as to enforcement, to the bankruptcy, reorganization, and solvency
and other similar laws of general applicability relating to or affecting creditors' rights and to general principles of equity. Each
consent, approval, authorization, order, license, certificate, permit, registration, designation, or filing by or with any governmental
agency or body necessary for the execution, delivery and performance of this Agreement, the Related Agreements or the transactions contemplated
hereby or thereby by the Contributor has been obtained or will be obtained on or before the Closing Date. Each consent or approval required
under the organizational documents, contract or agreement of the Existing Entity, relating to indebtedness or otherwise, necessary for
the execution, delivery and performance of this Agreement and the contribution, acquisition and transfer of the Contributed Interest
has been obtained or will be obtained on or before the Closing Date.

 

(d)            Ownership.

 

(i)            The
Contributor owns the Contributed Interests beneficially or of record, as applicable, free and clear of any and all Liens other than Permitted
Liens. Except as described in Part 1-B of Exhibit A, the Contributed Interests constitute all of the issued and outstanding
equity of the Existing LLCs and Existing Corporation and all of the issued and outstanding subordinated equity of the Trusts. Contributor
has not granted any options, warrants, or rights to subscribe to, securities, member interests, rights or obligations convertible into
or exchangeable for or given any right to subscribe for or participate in the profits of all or any portion of the Contributed Interest.

 

(ii)            The
Contributor has good and transferable title to, or other legal rights to possess and use, the Contributed Assets, free and clear of all
Liens other than Permitted Liens. The Contributed Assets are, in the aggregate, sufficient for the Operating Partnership to conduct the
business of the Existing Entities immediately after the Closing in all material respects in substantially the same manner as of immediately
prior to the Closing.

 

(iii)            At
the Closing, upon consummation of the transactions contemplated by this Agreement, the Operating Partnership will acquire the entire legal
and beneficial interest in all of the Contributed Interest, free and clear of any and all Liens other than Permitted Liens.

 

(e)            Office
Leases. Schedule 4.1(e) sets forth a list of all office leases or other written agreements pertaining to office space
that is leased by the Contributor (the "Office Leases") pursuant to which the Contributor is a tenant as of the date
hereof.

 

(f)            Vendor
Service Contracts. Schedule 4.1(f) sets forth a list of all vendors with which the Contributor has certain contracts
(the "Vendor Service Contracts") pursuant to which the Contributor receives software license services, cleaning services
and other administrative services that are necessary for the operation of the business of the Existing Entities in the ordinary course.

 

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(g)            Pending
Actions. Except as set forth on Schedule 4.1(g), there are no actions, suits or proceedings of any kind or nature whatsoever,
legal or equitable, relating to the ownership of the Contributed Interests or the Contributed Assets, in any court or before or by a federal,
state, county, municipal department, commission, board, bureau, or agency or other governmental instrumentality.

  

(h)            Existing
Loans. Part 1 of Schedule 4.1(h) attached hereto lists all indebtedness of the Existing Entities, together
with the indebtedness of the Contributor that is part of the Assumed Liabilities (collectively, the "Existing Loans")
and the outstanding aggregate principal balance of each of the Existing Loans. Part 2 of Schedule 4.1(h) contains a true,
correct and complete list of all the documents entered into in connection with any Existing Loans (such notes, deeds of trust or mortgages
and all other documents or instruments evidencing or securing or executed in connection with the Existing Loans, including any financing
statements, and any amendments, modifications, and assignments of the foregoing shall be referred to collectively as the "Existing
Loan Documents"), and no Existing Loan Documents have been amended, modified or assigned except as set forth thereon. The Existing
Loan Documents are in full force and effect. True, correct and complete copies of the Existing Loan Documents have been made available
to the Operating Partnership. No breach or default by any Existing Entity has occurred and is continuing with respect to any Existing
Loans and/or under any of the Existing Loan Documents and no event has occurred and is continuing which with the passage of time or the
giving of notice (or both) would constitute a breach or default under any of the Existing Loan Documents. Neither the Contributor nor
any Existing Entity has received or given written notice of a breach or default under any Existing Loan Documents, which remains uncured.

 

(i)            Accredited
Investor. The Contributor and each of the direct and indirect partners, members and/or other beneficiaries is an accredited investor,
meaning a person who qualified as an "accredited investor" under Rule 501(a) of Regulation D of the Securities Act.
The Contributor understands the risks of, and other considerations relating to, the acquisition of OP Units (including any securities
into which the OP Units may be converted). The Contributor by reason of its business and financial experience, or its managers, together
with the business and financial experience of those persons, if any, retained by the Contributor to represent or advise the Contributor
with respect to the Contributor's investment in OP Units (including any securities into which the OP Units may be converted):

 

(i)            has
such knowledge, sophistication and experience in financial and business matters and in making investment decisions of this type that it
is capable of evaluating the merits and risks of an investment in the Operating Partnership and the Corporation and of making an informed
investment decision;

 

(ii)            is
capable of protecting its own interest or has engaged representatives or advisors to assist it in protecting its interests;

 

(iii)            is
capable of bearing the economic risk of such investment; and

 

(iv)            in
making its decision to enter into this Agreement, has conducted its own due diligence, has been represented by competent counsel and financial
advisors and has not relied on oral or written advice from the Operating Partnership, the Corporation and/or their affiliates, representatives,
or agents or on representations or warranties of the Operating Partnership other than those set forth in this Agreement.

 

    -11- 

     

    

 

(j)            Investment
For Own Account. The OP Units to be acquired by the Contributor as contemplated hereby will be acquired for its own account for
investment only and not with a view to, or with any intention of, a distribution or resale thereof, in whole or in part, in any transaction
that would require registration under the Securities Act unless such OP Units are so registered.

 

(k)            Access
to Information; Review of Documents. The Contributor confirms and acknowledges that: (i) the Contributor has carefully read
and understood this Agreement and the Partnership Agreement; (ii) the Contributor has made such further investigations as the Contributor
has deemed appropriate; (iii) neither the Corporation, General Partner, the Operating Partnership nor anyone else on the Operating
Partnership's behalf has made any representations or warranties of any kind or nature to induce the Contributor to enter into this Agreement
except as specifically set forth in Section 4.2; (iv) the Contributor has been afforded access to information about the Operating
Partnership and the Corporation and each entity's respective financial condition and results of operations sufficient to evaluate its
investment in OP Units; and (v) the Contributor has been afforded the opportunity to obtain any additional information necessary
to verify the accuracy of information otherwise furnished by the Operating Partnership and the Corporation.

 

(l)            Unregistered
Securities. The Contributor acknowledges that:

 

(i)            The
OP Units to be acquired by the Contributor hereunder, together with the shares of Class A Common Stock or Class B Common Stock
that may be issued upon exchange or conversion of such OP Units, have not been registered under the Securities Act of 1933, as in effect
from time to time (the "Securities Act"), or state securities laws by reason of a specific exemption or exemptions from
registration under the Securities Act and applicable state securities laws;

 

(ii)            The
Operating Partnership's and Corporation's reliance on such exemptions is predicated in part on the accuracy and completeness of the representations
and warranties of the Contributor contained herein; and

 

(iii)            The
OP Units and Class B Common Stock, together with the shares of Class A Common Stock and Class B Common Stock that may be
issued upon exchange or conversion of such OP Units, therefore, cannot be resold unless registered under the Securities Act and applicable
state securities laws, or unless an exemption from registration is available.

 

The Contributor hereby acknowledges that because
of the restrictions on transfer or assignment of such OP Units to be issued hereunder, together with the shares of Class A Common
Stock and Class B Common Stock that may be issued upon exchange or conversion of such OP Units, the Contributor may have to bear
the economic risk of such OP Units, Class B Common Stock or Class A Common Stock for an indefinite period of time. The Contributor
also acknowledges that certificates (if any) representing the OP Units, together with the shares of Class A Common Stock and Class B
Common Stock that may be issued upon exchange or conversion of such OP Units, will bear a legend substantially similar to the following:

 

    -12- 

     

    

 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR UNDER ANY STATE SECURITIES LAWS,
AND MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR SUCH STATE SECURITIES LAWS
OR AN EXEMPTION FROM REGISTRATION THEREUNDER.

 

(m)            Brokerage
Commissions. The Contributor has not engaged the services of any agent, broker, finder or any other person or entity for any brokerage
or finder's fee, commission or other amount with respect to the transactions described herein.

 

4.2.            Representations
and Warranties of the Operating Partnership. The Operating Partnership hereby represents and warrants to the Contributor as of
the Closing Date as follows:

 

(a)            Existence
and Power. The Operating Partnership has been duly formed and is validly existing as a Delaware limited partnership. The Operating
Partnership has all power and authority under its organizational documents to enter into this Agreement and the Related Agreements executed
by it.

 

(b)            Authorization;
No Contravention. The Operating Partnership's execution and delivery of this Agreement and the Related Agreements, and the performance
of its obligations under each of the foregoing, shall, by the Closing Date, have been duly authorized by all requisite organizational
action, and all necessary authorizations, consents, appointments, elections and waivers relating thereto and shall have been obtained
as of the Closing Date. This Agreement has been, and such Related Agreements shall on the Closing Date have been, duly executed and delivered
by the Operating Partnership. This Agreement constitutes and, upon the execution thereof, the Related Agreements executed by the Operating
Partnership will constitute the valid, legal and binding obligations of the Operating Partnership, each enforceable against the Operating
Partnership in accordance with their respective terms, subject, as to enforcement, to the bankruptcy, reorganization, and solvency and
other similar laws of general applicability relating to or affecting creditors' rights and to general principles of equity.

 

(c)            OP
Units. The OP Units to be issued to the Contributor hereunder have been duly authorized for issuance to the Contributor and, upon
such issuance, will be validly issued.

 

(d)            Pending
Actions. There are no actions, suits or proceedings of any kind involving the Operating Partnership, any of its assets or the
operation of any of the foregoing, which, if determined adversely to the Operating Partnership or its assets, would interfere with the
Operating Partnership's ability to execute or deliver, or perform its obligations under, this Agreement or any of the Related Agreements
executed by it.

 

    -13- 

     

    

 

4.3.            Representations
and Warranties of the Corporation. The Corporation hereby represents and warrants to the Contributor as of the Closing Date as
follows:

 

(a)            Existence
and Power. The Corporation has been duly incorporated and is validly existing as a Maryland corporation. The Corporation has all
power and authority under its organizational documents to enter into this Agreement.

 

(b)            Authorization;
No Contravention. The Corporation's execution and delivery of this Agreement, and the performance of its obligations under the
foregoing, shall, by the Closing Date, have been duly authorized by all requisite corporate action, and all necessary authorizations,
consents, appointments, elections and waivers relating thereto and shall have been obtained as of the Closing Date. This Agreement has
been duly executed and delivered by the Corporation. This Agreement constitutes and, upon the execution thereof, the valid, legal and
binding obligations of the Corporation, enforceable against the Corporation in accordance with its terms as applicable to the Corporation,
subject, as to enforcement, to the bankruptcy, reorganization, and solvency and other similar laws of general applicability relating to
or affecting creditors' rights and to general principles of equity.

 

(c)            Class B
Common Stock. The shares of Class B Common Stock to be issued to the Contributor hereunder have been duly authorized for
issuance to the Contributor and, upon such issuance, will be validly issued, fully paid and nonassessable.

 

(d)            Class A
Common Stock and Class B Common Stock. The shares of Class A Common Stock and Class B Common Stock that may be
issued upon exchange of OP Units have been duly authorized for issuance to the Contributor and, upon such issuance, will be validly issued,
fully paid and nonassessable.

 

Article 5

Covenants

 

5.1.            Affirmative
Covenants. Through the Closing, the Contributor agrees to, and shall cause the Existing Entities to promptly notify the Operating
Partnership in writing if the Contributor or Existing Entities becomes aware of any fact or circumstance which would make any representation
or warranty contained in this Agreement inaccurate.

 

5.2.            Negative
Covenants. Without the Operating Partnership's prior written approval, which may be withheld in its sole and absolute discretion,
through the Closing, the Contributor shall not, and shall not cause or permit any Existing Entity to:

 

(i)            contribute,
sell, transfer or otherwise dispose (or agree to contribute, sell, transfer or otherwise dispose of) of all or any portion of the Contributed
Interests or the Contributed Assets; or

 

(ii)            incur,
create, or assume any Lien, other than Permitted Liens, with respect to all or any portion of any Contributed Interest or any Contributed
Asset.

 

5.3.            Lock-Up
Period. The Contributor by its execution and delivery of this Agreement, agrees that, for a period of 180 days following the date
of the prospectus in the IPO it may not, in any way or to any extent, exchange (pursuant to Section 8.06 of the Partnership Agreement
or otherwise), sell, transfer, assign or otherwise dispose of, any or all of the OP Units delivered to it at the Closing, if any, except
for an exchange of the Class B OP Units for an equivalent number of shares of Class B Common Stock on or about the Closing Date,
sales to the Operating Partnership or Corporation, respectively, transfers for bona fide estate planning purposes pursuant to Section 11.03(a)(i) of
the Partnership Agreement, transfers pursuant to Section 11.03(a)(ii) of the Partnership Agreement following the date that is
one year from the Closing, and distributions to its owners for no consideration, provided that any transferee agrees to remain
subject to the same restrictions in this Section 5.3 that apply to the Contributor.

 

    -14- 

     

    

 

5.4.            Employee
Matters.

 

(a)            Transfer
of Employment. Effective upon the Closing, the employment of each Contributor Employee shall be transferred to and continued by the
Operating Partnership or shall be assigned and transferred to a subsidiary of the Operating Partnership. Each of the parties agrees to
execute, and to seek to have the applicable employees execute, such documentation, if any, as may be necessary to reflect such assignments
and transfers.

 

(b)            At-Will
Status. Notwithstanding the above or any other provision of this Agreement, nothing in this Agreement shall create any obligation
on the part of any of the Operating Partnership or any of its affiliates to (i) continue the employment of any Contributor Employee
or permit the return from a leave of absence for any period following the Closing (except as required by applicable law) or (ii) change
the employment status of any Contributor Employee from "at will," to the extent such employee is an "at will" employee
under applicable law.

 

(c)            Severance.
The parties acknowledge and agree that the transactions contemplated hereunder and the assignment, transfer or continuation of the employment
of Contributor Employees as contemplated by this Section 5.4 shall not be deemed a severance of employment of any Contributor Employee
for purposes of this Agreement or any Benefit Plan.

 

(d)            Not
a Change of Control/Change in Control. The parties acknowledge and agree that neither the consummation of transactions contemplated
hereunder nor any other transaction in connection with the aforementioned transactions shall be deemed a "change of control"
or term of similar import for purposes of any Benefit Plan or with respect to any Contributor Employee.

 

(e)            Payroll
and Related Taxes. To the extent applicable, with respect to the portion of the tax year occurring prior to and including the Closing,
the Contributor will (i) be responsible for all payroll obligations, tax withholding and reporting obligations and (ii) furnish
a Form W-2 or similar earnings statement to all the Contributor Employees for such period. With respect to the remaining portion
of such tax year, the Operating Partnership will (i) be responsible for all payroll obligations, tax withholding, and reporting obligations
regarding Contributor Employees and (ii) furnish a Form W-2 or similar earnings statement to all Contributor Employees. With
respect to each Contributor Employee, Contributor and Operating Partnership shall, and shall cause their respective affiliates to (to
the extent permitted by applicable law and practicable) (x) treat Operating Partnership (or an applicable subsidiary) as a "successor
employer" and the Contributor (or the applicable the Contributor affiliate) as a "predecessor," within the meaning of Sections
3121(a)(1) and 3306(b)(1) of the Code, to the extent appropriate, for purposes of taxes imposed under the United States Federal
Insurance Contributions Act, as amended ("FICA"), or the United States Federal Unemployment Tax Act, as amended ("FUTA");
(y) cooperate with each other to avoid, to the extent possible, the restart of FICA and FUTA upon or following the Closing with respect
to each such Contributor Employee for the tax year during which the Closing occurs; and (z) file tax returns, exchange wage payment
information, and report wage payments made by the respective predecessor and successor employer on separate IRS Forms W-2 or similar earnings
statements to each such Contributor Employee for the tax year in which the Effective Time occurs, in a manner provided in Section 4.02(l) of
Revenue Procedure 2004-53.

 

    -15- 

     

    

 

(f)            Employment
Contracts. The Operating Partnership shall assume and honor, or will cause an Operating Partnership subsidiary to assume and honor,
any agreements to which any Contributor Employee is party with either any affiliate of the Operating Partnership or any joint venture
with an affiliate of the Contributor, including any (i) employment contracts or (ii) retention, severance or change of control
arrangements.

 

(g)            Compliance
With Employment Laws. At and after the Closing, the Operating Partnership and its affiliates shall be responsible for adopting and
maintaining any policies or practices, and all other actions and inactions, necessary to comply with employment-related laws and requirements
relating to the employment of Contributor Employees.

 

(h)            Sharing
of Information. Subject to any limitations imposed by applicable laws, Contributor and Operating Partnership shall provide to each
other and their respective agents and vendors all information necessary for the parties to perform their respective duties under this
Agreement. The parties also hereby agree to enter into any business associate arrangements that may be required for the sharing of any
information pursuant to this Agreement to comply with the requirements of HIPAA.

 

(i)            Transfer
of Personnel Records and Authorization. Subject to any limitation imposed by applicable laws, on the Closing, Contributor shall transfer
and assign to the Operating Partnership all personnel records, immigration documents, including I-9 forms and work authorizations, payroll
deduction authorizations and elections, whether voluntary or mandated by law, including but not limited to Forms W-4 and deductions for
benefits under the applicable Benefit Plan and all absence management records, FMLA records, insurance beneficiary designations, flexible
spending account enrollment confirmations, and attendance and return to work information ("Benefit Management Records")
relating to Benefit Plan participants.

 

(j)            Benefit
Plan Sponsor. Upon the Closing, the Operating Partnership shall adopt and become the plan sponsor of each Benefit Plan. Without limiting
the generality of the foregoing, the Operating Partnership shall adopt the Preston Hollow Capital, LLC Savings & Investment Plan
(the "Savings Plan") and execute a definitive instrument of amendment to the Savings Plan reflecting the Operating Partnership
as plan sponsor and a participating employer. With respect to each Benefit Plan that is an employee welfare benefit plan within the meaning
of Section 3(1) of ERISA (each a "Welfare Plan"), the Operating Partnership shall execute all instruments required
by any insurance company, trustee or third-party administrator or provider to give effect to the foregoing.

 

(k)            Liability
for Claims. With respect to unpaid covered claims incurred on or prior to the Closing by any participant under any Welfare Plan, including
claims that are self-insured and claims that are fully insured through third-party insurance, the Operating Partnership shall retain and
be responsible for the payment for such claims or shall cause the applicable Welfare Plan to fully perform, pay and discharge all such
claims, as the case may be.

 

    -16- 

     

    

 

(l)            Insurance
Contracts. To the extent any Welfare Plan is funded through the purchase of an insurance contract or is subject to any stop-loss contract,
Contributor and Operating Partnership will cooperate and use commercially reasonable efforts to replicate such insurance contracts for
Operating Partnership (except to the extent changes are required under applicable state insurance laws or filings by the respective insurers)
and to maintain any pricing discounts or other preferential terms for Operating Partnership for a reasonable term.

 

(m)            Third-Party
Vendors. Except as provided below, to the extent any Welfare Plan is administered by a third-party vendor, Contributor and Operating
Partnership shall cooperate and use commercially reasonable efforts to replicate any contract with such third-party vendor for Operating
Partnership and to maintain any pricing discounts or other preferential terms for Operating Partnership.

 

(n)            Workers'
and Unemployment Compensation. Effective as of the Closing, Operating Partnership shall, or shall cause an affiliate to, assume the
obligations for all claims and liabilities relating to (i) workers' compensation benefits with respect to (A) injuries that
occur following the Closing affecting Contributor Employees and whose claims relating to such injuries are incurred following the Closing,
and (B) injuries that occur prior to the Closing affecting Contributor Employees but whose claims relating to such injuries are incurred
following the Closing; and (ii) unemployment compensation benefits for all Contributor Employees. Effective as of the Closing, Operating
Partnership will be responsible for (x) obtaining workers' compensation insurance, including providing all collateral required by
the insurance carriers and (y) establishing new or transferred unemployment insurance employer accounts, policies and claims handling
contracts with applicable government agencies.

 

(o)            Assignment
of Contribution Rights. Contributor will transfer and assign to Operating Partnership all rights to seek contribution or damages from
any applicable third-party (such as a third-party who aggravates an injury to a worker who makes a workers’ compensation claim)
with respect to any workers' compensation claim for which Operating Partnership is responsible pursuant to this Section 5.4.

 

(p)            Collateral.
On and after the Closing, Operating Partnership shall be responsible for providing all collateral required by insurance carriers in connection
with workers’ compensation claims for which liability is allocated to Operating Partnership under this Section  5.4.

 

(q)            Accrued
Time Off. Operating Partnership shall recognize and assume all Liability for all unused vacation, holiday, sick leave, flex days,
personal days and paid-time off and other time-off benefits with respect to Contributor Employees which accrued prior to the Closing,
and Operating Partnership shall credit each Contributor Employee with such accrual.

 

(r)            Leaves
of Absence. Operating Partnership will continue to apply the appropriate leave of absence policies applicable to inactive Contributor
Employees who are on an approved leave of absence as of the Closing. Leaves of absence taken by Contributor Employees prior to the Closing
shall be deemed to have been taken as employees of Operating Partnership.

 

    -17- 

     

    

 

5.5.            Tax
Matters.

 

(a)            All
transfer, stamp, documentary, sales, use, registration, and other similar Taxes (including any applicable real estate transfer Taxes)
incurred in connection with the transactions contemplated by Article 2 of this Agreement ("Transfer Taxes") shall
be paid by the Contributor. The parties agree to cooperate in connection with the preparation, execution and filing of any Tax Returns
with respect to Transfer Taxes, including promptly supplying any information in their possession that is reasonably necessary to complete
such returns.

 

(b)            With
respect to each Existing Entity, to the extent consistent with the terms of the limited liability company agreement or other governing
documents of such Existing Entity, all Pass-Through Tax Returns of the Existing Entity for taxable years beginning on or before the Closing
Date and filed after the Closing Date shall be prepared by the Operating Partnership, provided that the Operating Partnership (i) shall
provide a draft of each such Tax Return to the Contributor at least thirty (30) days before filing such return with the applicable Tax
Authority and (ii) shall incorporate in the version of such return filed with such Tax Authority any changes proposed by the Contributor
in writing within fifteen (15) days of receiving the draft of such return which the Operating Partnership approves (such approval not
to be unreasonably withheld, conditioned or delayed). Without limiting the foregoing, with respect to any Existing Entity that is treated
for U.S. federal income tax purposes as a partnership, to the extent consistent with the limited liability company agreement or other
governing documents of such Existing Entity, items of income, deduction, gain, loss and credit for the taxable year of such Existing Entity
in which the transactions contemplated by Article 2 occur will be allocated between the Contributor and the Operating Partnership
pursuant to Section 706 of the Code and the Treasury Regulations thereunder (and any corresponding provision of state or local law)
based on a "closing of the books" as of the close of business on the Closing Date.

 

(c)            In
the event a Tax Authority commences a Tax Proceeding with respect to a Pass-Through Tax Return for a taxable year of an Existing Entity
that begins on or before the Closing Date, to the extent consistent with the limited liability company agreement or other governing documents
of such Existing Entity, the Operating Partnership shall control the conduct and resolution of such proceeding, provided that the Operating
Partnership (i) shall notify the Contributor promptly (and in any event within ten (10) days) of the commencement of such proceeding
and shall keep the Contributor timely informed of material developments in such proceeding, (ii) upon the Contributor's request from
time to time, shall consult with the Contributor regarding the conduct of such proceeding and (iii) shall not consent to the settlement
or other final disposition of such proceeding without the Contributor's prior written consent (not to be unreasonably withheld, conditioned
or delayed). In addition, in the event a Tax Authority commences any Tax Proceeding with respect to the taxable year of the Operating
Partnership that includes the Closing Date in which the tax treatment of any of the transactions contemplated by Article 2 of this
Agreement is at issue, the Operating Partnership shall control the conduct and resolution of such proceeding, provided that the Operating
Partnership (i) shall notify the Contributor promptly (and in any event within ten (10) days) of the commencement of such proceeding
and shall keep the Contributor timely informed of all developments in such proceeding relating to such issue, (ii) shall cooperate
with the Contributor to ensure the Contributor controls the conduct and resolution of the portion of such proceeding related to such issue
and (iii) shall not consent to the settlement or other final disposition of such proceeding without the Contributor's prior written
consent (not to be unreasonably withheld, conditioned or delayed).

 

    -18- 

     

    

 

(d)            The
Contributor and the Operating Partnership will, and will cause their respective representatives to (i) provide the other party and
its representatives with such assistance as may be reasonably requested in connection with the preparation of any Tax Return or conduct
of any Tax Proceeding in respect of any taxable year or years beginning on or prior to the Closing Date, (ii) retain all books and
records with respect to Tax matters relating to such taxable years until sixty (60) days following the expiration of the applicable statute
of limitations (including any extensions thereof) of the respective taxable years, and abide by all record retention agreements entered
into with any Tax Authority, and (iii) give the other party reasonable written notice prior to transferring, destroying, or discarding
any such books and records and, if the other party so requests, allow such other party to take possession of any such books and records.

 

(e)            On
or within ten (10) days prior to the Closing Date, the Contributor shall provide to the Operating Partnership a valid, duly completed
Internal Revenue Service ("IRS") Form W-9.

 

(f)            Notwithstanding
anything in this Agreement to the contrary, each party's obligations under Section 2.5 and this Section 5.5 (and that party's
obligation under Article 7 to provide indemnification for a breach by that party of its obligations under Section 2.5 or this
Section 5.5) shall survive until the sixty (60) days after the expiration of the applicable statutes of limitation (taking into account
any extensions or waivers thereof) for the assessment or imposition of Taxes to which Section 2.5 and this Section 5.5 relate.

 

(g)            For
purposes of this Agreement:

 

(i)            "Pass-Through
Tax Return" means a Tax Return of an Existing Entity that reports income or losses with respect to such Existing Entity but with
respect to which the direct or indirect beneficial owners of such Existing Entity, and not the Existing Entity, are required to pay the
related Tax on such income or are entitled to the benefit of such loss (including, for the avoidance doubt IRS Form 1065 and any
similar U.S. state or local tax form).

 

(ii)            "Tax
Authority" means any governmental authority responsible for the collection, operation or administration of Taxes;

 

(iii)            "Taxes"
means any and all U.S. federal, state, local, municipal, foreign and other taxes, levies, fees, imposts, duties and charges of whatever
kind, including, taxes imposed on, or measured by, net income, gross income, gross receipts, sales, use, value added, goods and services,
escheat, ad valorem, non-ad valorem, transfer, franchise, profits, registration, license, lease, service, service use, withholding, payroll,
employment, social security, excise, severance, stamp, occupation, premium, property, windfall profits, estimated, capital gains, capital
stock, alternative or add-on minimum tax, as well as any related interest, penalties and additions to tax, in each case, imposed by a
Tax Authority;

 

    -19- 

     

    

 

 

(iv)         "Tax
Proceeding" means any examination, audit or other administrative or judicial proceeding with respect to Taxes or a Tax Return;
and

  

(v)          "Tax
Return" means any return, declaration, report, claim for refund or information return relating to Taxes, including any schedule
or attachment thereto.

 

5.6.         Lease
Assignments. On or prior to the Closing Date, the Contributor shall use its commercially reasonable efforts to obtain the consent
of each landlord with respect to each Office Lease for the assignment and transfer of such Office Lease to the Operating Partnership (or
its designee designated in accordance with Section 2.1(g)) pursuant to the respective Lease Assignment Agreement to the extent such
consent is required under such Office Lease.

 

Article 6

Defaults and Remedies

 

6.1.         Default
by the Contributor. If the Closing is not consummated because of a default by the Contributor under this Agreement, then the Operating
Partnership may either: (a) seek specific performance of this Agreement by requiring the Contributor to assign the Contributed Interests
and the Contributed Assets to the Operating Partnership in accordance with the terms hereof and in connection therewith the Contributor
shall reimburse the Operating Partnership for the expenses incurred by the Operating Partnership in connection with seeking such specific
performance; or (b) by written notice to the Contributor, terminate this Agreement and, except as expressly set forth elsewhere in
this Agreement, neither the Contributor nor the Operating Partnership shall thereafter have any obligation under any provision of this
Agreement.

 

6.2.         Default
by the Operating Partnership. If the Closing is not consummated as a result of a default by the Operating Partnership hereunder,
then the Contributor shall have the right by written notice to the Operating Partnership to terminate this Agreement and, except as expressly
set forth elsewhere in this Agreement, neither the Contributor nor the Operating Partnership shall thereafter have any obligation under
any provision of this Agreement.

 

6.3.         Waiver
of Damages. Except for the specific remedies set forth in Article 6, Article 7 and Article 8, the Contributor,
the Operating Partnership and the Corporation each hereby waive any and all rights to claim actual, consequential or punitive damages
against the other party for failure to perform its respective obligations hereunder.

 

Article 7

Indemnification

 

7.1.         Contributor
Indemnification. Subject to the limitations provided below, from and after the Closing Date, the Contributor agrees to indemnify,
defend and hold harmless the Operating Partnership and its affiliates from and against any and all damage, loss liability and expense
(collectively, "Losses") which are incurred or suffered by it based upon, arising out of, in connection with or by reason
of any one or more of the following (such Losses, collectively, the "Indemnification Amounts"): (a) the breach of
any of the representations or warranties of the Contributor; and/or (b) any breach by the Contributor of its obligations under this
Agreement including any covenant required to be performed by the Contributor pursuant to the terms of this Agreement.

 

    -20-

     

    

 

7.2.         The
Operating Partnership Indemnification. Subject to the limitations provided below, from and after the Closing Date, the Operating
Partnership agrees to indemnify, defend and hold harmless the Contributor from and against all Losses which are incurred or suffered by
it based upon, arising out of, in connection with or by reason of: (a) the breach of any of the representations or warranties of
the Operating Partnership; and/or (b) any breach by the Operating Partnership of its obligations under this Agreement, including
any covenant required to be performed by the Operating Partnership pursuant to the terms of this Agreement.

  

7.3.         The
Corporation Indemnification. Subject to the limitations provided below, from and after the Closing Date, the Corporation agrees
to indemnify, defend and hold harmless the Contributor from and against all Losses which are incurred or suffered by it based upon, arising
out of, in connection with or by reason of: (a) the breach of any of the representations or warranties of the Corporation; and/or
(b) any breach by the Corporation of its obligations under this Agreement, including any covenant required to be performed by the
Corporation pursuant to the terms of this Agreement.

 

7.4.         Survival.
All claims for indemnification under this Article 7, if asserted in writing stating the nature of such claims and the basis for indemnification
therefore, shall survive the Closing or the termination of the parties' obligations to consummate the transactions contemplated by this
Agreement for a period of twelve (12) months, subject to Section 5.5(f). The Contributor's aggregate liability hereunder shall not
exceed 10% of the value of the aggregate consideration (valuing the Class A OP Units at the price at which shares of the Corporation's
Class A common stock are sold in the IPO and valuing each Class B OP Unit at 2% of the value of each share of Class A Common
Stock) received by the Contributor in exchange for the Contributed Interests.

 

7.5.         Exclusive
Remedy. From and after the Closing, the rights and remedies of the parties or their affiliates (including the Corporation) under
this Article 7 are exclusive and in lieu of any and all other rights and remedies which of the parties or their affiliates (including
the Corporation), may have for breaches under this Agreement. Notwithstanding the preceding sentence, each of the parties acknowledges
and agrees that the other parties hereto would be damaged irreparably in the event any of the provisions of this Agreement are not performed
in accordance with their specific terms or otherwise are breached and accordingly agrees that the other parties hereto shall be entitled
to an injunction to prevent breaches of the provisions of this Agreement and to specifically enforce the terms and provisions of this
Agreement without proof of actual damages, and each party further agrees to waive any requirement for the securing or posting of any bond
in connection with such remedy.

 

Article 8

Miscellaneous

 

8.1.         Entire
Agreement; No Amendment. This Agreement and the Related Agreements represent the entire agreement among each of the parties hereto
with respect to the subject matter hereof. It is expressly understood that no representations, warranties, guarantees or other statements
shall be valid or binding upon a party unless expressly set forth in this Agreement. It is further understood that any prior agreements
or understandings between the parties with respect to the subject matter hereof have merged in this Agreement or the Related Agreements,
which alone fully expresses all agreements of the parties hereto as to the subject matter hereof and supersedes all such prior agreements
and understandings. This Agreement may not be amended, modified or otherwise altered except by a written agreement signed by the party
hereto against whom enforcement is sought. It is agreed that no obligation under this Agreement which by its terms is to be performed
or continue to be performed after the Closing and no provision of this Agreement which is expressly to survive the Closing shall merge
upon the Closing, but shall survive the Closing.

 

    -21-

     

    

  

8.2.            Notices.
All notices and other communications hereunder shall be in writing and shall be deemed to have been duly given if (i) personally
delivered, with proof of delivery thereof (any notice or communication so delivered being deemed to have been received at the time delivered),
(ii) sent by United States certified mail, return receipt requested, postage prepaid (any notice or communication so sent being deemed
to have been received two (2) Business Days after mailing in the United States), with failure or refusal to accept delivery to constitute
delivery for all purposes of this Agreement, or (iii) sent by e-mail, in each case addressed to the respective parties as follows:

 

If to the Contributor, to:

 

c/o Preston Hollow Capital, LLC

1717 Main Street, Suite 3900

Dallas, Texas 75201

Attention: John Dinan, General Counsel

E-mail: jdinan@phcllc.com

 

If to the Operating Partnership or Corporation,
to:

 

c/o Preston Hollow Community Capital, Inc.

1717 Main Street, Suite 3900

Dallas, Texas 75201

Attention: Paige Deskin

E-mail: pdeskin@phcllc.com

 

with a copy to:

 

Clifford Chance US LLP

31 West 52nd Street 

New York, New York 10019

Attention: Jay L. Bernstein, Esq.

E-mail: jay.bernstein@cliffordchance.com

 

8.3.        No
Assignment. Except as provided in this Section 8.3, neither this Agreement nor any of the rights or obligations hereunder
may be assigned by any party hereto without the prior written consent of the other parties.

 

    -22-

     

    

 

8.4.         Governing
Law; Jurisdiction. This Agreement shall be governed by and construed in accordance with the internal laws of the State of New
York, without regard to the choice of laws provisions thereof. Each of the parties hereto hereby irrevocably and unconditionally submits
to the exclusive jurisdiction of any New York State court or federal court of the United States of America sitting in New York City, and
any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement, or for recognition or
enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of
any such action or proceeding may be heard and determined in any such New York State court or, to the extent permitted by law, in such
federal court.  Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and
may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Each of the parties hereto irrevocably
and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection that it may now or hereafter have
to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement in any New York State or federal
court of the United States of America sitting in New York City.  Each of the parties hereto hereby irrevocably waives, to the fullest
extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.

 

8.5.         Multiple
Counterparts. This Agreement may be executed in multiple counterparts. If so executed, all of such counterparts shall constitute
but one agreement, and, in proving this Agreement, it shall not be necessary to produce or account for more than one such counterpart.
To facilitate execution of this Agreement, the parties may execute and exchange by facsimile or electronic mail PDF copies of counterparts
of the signature pages.

 

8.6.         Further
Assurances. From and after the date of this Agreement and after the Closing, the parties hereto shall take such further actions
and execute and deliver such further documents and instruments as may be reasonably requested by the other party and are reasonably necessary
to provide to the respective parties hereto the benefits intended to be afforded hereby.

 

8.7.         Successors
and Assigns. The rights and obligations created by this Agreement shall be binding upon and inure to the benefit of the parties
hereto, their heirs, executors, receivers, trustees, successors and permitted assigns. Nothing in this Agreement, express or implied,
is intended or shall be construed to confer upon any person or entity other than the parties and their successors and assigns any right,
remedy or claim under or by reason of this Agreement.

 

8.8.         Confidentiality;
Publicity. All press releases or other public communications of any kind relating to the IPO or the transactions contemplated
herein, and the method and timing of release for publication thereof, will be subject to the prior written approval of the Operating Partnership.

 

8.9.         Time
of Essence. Time is of the essence with respect to this Agreement.

 

8.10.       Attorneys'
Fees. If this Agreement or the transactions contemplated herein gives rise to a lawsuit, arbitration or other legal proceeding
between the parties hereto, the prevailing party shall be entitled to recover its costs and reasonable attorneys' fees in addition to
any other judgment of the court or arbitrator(s).

 

8.11.       Waiver
of Jury Trial. To the fullest extent permitted by applicable law, the parties hereto waive trial by jury in any action, proceeding
or counterclaim brought by any party(ies) against any other party(ies) on any matter arising out of or in any way connected with this
agreement or the relationship of the parties created hereunder.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

    -23-

     

    

  

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

 

	 	OPERATING PARTNERSHIP:
	 	 
	 	PHCC OP LP,
	 	a Delaware limited partnership
	 	 
	 	By:	PHCC GP, LLC,
	 	 	a Delaware limited liability company,
	 	 	its general partner
	 	 
	 	By: PRESTON HOLLOW COMMUNITY CAPITAL, INC.
	 	a Maryland corporation, as its sole member
	 	 
	 	By:	 
	 	Name:
	 	Title:	 
	 	 
	 	CONTRIBUTOR:
	 	 
	 	PRESTON HOLLOW CAPITAL, LLC
	 	a Delaware limited liability company
	 	 
	 	By:	 
	 	Name:
	 	Title:                                     
	 	 
	 	Solely for purposes of Sections 2.1(f), 4.3 and 7.3,
	 	CORPORATION:
	 	 
	 	PRESTON HOLLOW COMMUNITY CAPITAL, INC.
	 	a Maryland corporation
	 	 
	 	By:	 
	 	Name:
	 	Title:

 

    -1-

     

    

Exhibit A

 

Existing Entities

 

Part 1-A

 

[Omitted]

 

Part 1-B

 

[Omitted]

 

Part 2

 

[Omitted]

 

Part 3

 

[Omitted]

 

    -1-

     

    

 

Exhibit B

  

Contributed Assets

 

[Omitted]

 

    -2-

     

    

 

Exhibit C

 

Contributed QOF Interests

 

[Omitted]

 

    -3-

     

    

 

Exhibit D

  

Assumed Liabilities

 

[Omitted]

 

    -4-

     

    

 

Exhibit E

 

Contributor Interest Assignment

 

[See attached]

 

    -5-

     

    

  

Exhibit F

 

Assignment and Assumption Agreement

 

[See attached]

 

    -6-

     

    

 

Exhibit G

  

Trademark Assignment Agreement

 

[See attached]

 

    -7-

     

    

 

Exhibit H

  

Lease Assignment Agreement

 

[See attached]

 

    -8-

     

    

 

Schedule 2.1(a)

  

Permitted Liens

 

[Omitted]

 

    -9-

     

    

 

Schedule 2.1(d)

  

Retained Assets

 

[Omitted]

 

    -10-

     

    

 

Schedule 4.1(e)

 

Office Leases

 

[Omitted]

 

    -11-

     

    

 

Schedule 4.1(f)

  

Vendor Service Contracts

 

[Omitted]

 

    -12-

     

    

 

Schedule 4.1(g)

 

Pending Actions

 

[Omitted]

 

    -13-

     

    

 

Schedule 4.1(h)

  

Existing Loans

 

Part 1

 

[Omitted]

 

Part 2

 

[Omitted]

 

    -14-Exhibit 10.1

 

EXECUTION VERSION

 

STOCK PURCHASE AGREEMENT

 

among

WHE
AGENCY, INC.

 

Peace
love yoga foundation,

 

tracy
willis

 

and

 

CREATD
PARTNERS, LLC

 

dated as of

 

July 20, 2021

 

     

     

    

 

TABLE OF CONTENTS

 

	ARTICLE I PURCHASE AND SALE	2
	 	 
	Section 1.01 Purchase and Sale.	2
	Section 1.02 Post Closing Capitalization 	3
	Section 1.02 Payment at Closing.	3
	 	 
	ARTICLE II CLOSING	4
	 	 
	Section 2.01 Closing.	4
	Section 2.02 Company and Sellers Closing Deliverables.	4
	Section 2.03 Buyer’s Deliveries.	4
	 	 
	ARTICLE III REPRESENTATIONS AND WARRANTIES OF SELLER	4
	 	 
	Section 3.01 Organization and Authority of the Company and Sellers.	4
	Section 3.02 Capitalization.	5
	Section 3.03 No Subsidiaries.	5
	Section 3.04 No Conflicts or Consents.	5
	Section 3.05 Financial Statements.	6
	Section 3.06 Liabilities.	6
	Section 3.07 Absence of Certain Changes, Events, and Conditions.	6
	Section 3.08 Material Contracts.	7
	Section 3.09 Real Property; Title to Assets.	7
	Section 3.10 Intellectual Property.	8
	Section 3.11 Material Customers and Suppliers.	8
	Section 3.12 Insurance.	9
	Section 3.13 Legal Proceedings; Governmental Orders.	9
	Section 3.14 Compliance with Laws; Permits.	9
	Section 3.15 Environmental Matters.	10
	Section 3.16 Employee Benefit Matters.	10
	Section 3.17 Employment Matters.	12
	Section 3.18 Taxes.	12
	Section 3.19 Books and Records.	13
	Section 3.20 Brokers.	13
	Section 3.21 Full Disclosure.	13
	 	 
	ARTICLE IV REPRESENTATIONS AND WARRANTIES OF BUYER	13
	 	 
	Section 4.01 Organization and Authority of Buyer.	13
	Section 4.02 No Conflicts; Consents.	14
	Section 4.03 Investment Purpose.	14
	Section 4.04 Brokers.	14
	 	 
	ARTICLE V COVENANTS	14
	 	 
	Section 5.01 Confidentiality.	14
	Section 5.02 Non-Competition; Non-Solicitation.	15
	Section 5.03 Further Assurances.	15

 

    i 

     

    

 

	ARTICLE VI TAX MATTERS	15
	 	 
	Section 6.01 Tax Covenants.	15
	Section 6.02 Straddle Period.	15
	Section 6.03 Termination of Existing Tax Sharing Agreements.	16
	Section 6.04 Tax Indemnification.	16
	Section 6.05 No Section 336(e) Election.	16
	Section 6.06 Cooperation and Exchange of Information.	16
	Section 6.07 Survival.	16
	 	 
	ARTICLE VII INDEMNIFICATION	17
	 	 
	Section 7.01 Indemnification by Seller.	17
	Section 7.02 Indemnification by Buyer.	17
	Section 7.03 Indemnification Procedures.	17
	Section 7.04 Survival.	18
	Section 7.05 Tax Claims.	18
	Section 7.06 Cumulative Remedies.	18
	 	 
	ARTICLE VIII MISCELLANEOUS	18
	 	 
	Section 8.01 Expenses.	18
	Section 8.02 Notices.	18
	Section 8.03 Interpretation; Headings.	19
	Section 8.04 Severability.	19
	Section 8.05 Entire Agreement.	19
	Section 8.06 Successors and Assigns.	19
	Section 8.07 Amendment and Modification; Waiver.	19
	Section 8.08 Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.	19
	Section 8.09 Counterparts.	19

 

    ii 

     

    

 

STOCK PURCHASE AGREEMENT

 

This Stock Purchase Agreement
(this “Agreement”), dated as of July 20, 2021 is entered into among WHE Agency, Inc., a Delaware corporation (“WHE”
or the “Company”), Peace Love Yoga Foundation, Inc., a California private charitable corporation (“PLYF”),
and Tracy Willis, an individual and resident of Washington (“Willis”) (together, “Sellers”), and
Creatd Partners, LLC, a Delaware limited liability company (“Buyer”). Capitalized terms used in this Agreement have
the meanings given to such terms herein.

RECITALS

 

WHEREAS, PLYF and Willis
own shares (“Shares”), of the Company;

 

WHEREAS, Sellers wish
to sell to Buyer, and Buyer wishes to purchase from Sellers, certain Shares (“Selling Shares,” defined below), subject
to the terms and conditions set forth herein;

 

WHEREAS, the Company’s
Shares and current capitalization is as follows:

 

		(a)	PLYF holds, immediately prior to the Closing (as defined below), 500 shares of the issued and outstanding
common stock in the Company; and
	 	 	 

		(b)	Willis holds, immediately prior to the Closing, 500 shares of the issued and outstanding common stock
in the Company; and
	 	 	 

		(c)	The Talent listed on Schedule 3.02(c) of the Disclosure Schedules collectively hold, immediately prior
to the Closing, 315 shares of the issued and outstanding common stock in the Company, which shares are subject to forfeiture and other
requirements pursuant to those certain Restricted Stock Award Agreements between the Company and each such Talent, and

 

WHEREAS, it is anticipated
that each Talent will enter into an Amended and Restated Restricted Stock Award Agreement and a Voting Agreement and Proxy with the Company,
which will govern the rights and restrictions applicable to the shares held by each such Talent after the Closing;

 

WHEREAS, in connection
with the Closing, the Company is obtaining from the Talent Amended and Restated Restricted Stock Awards, and Voting Agreements and Proxies
with respect to the restricted stock held by the talent; and

 

WHEREAS, PLYF desires
to sell to Buyer, and Buyer wishes to purchase from PLYF, all 500 shares owned by PLYF and Willis desires to sell to Buyer, and Buyer
wishes to purchase from Willis, 79 of the 500 shares owned by Willis (collectively, the “Selling Shares”); and

 

NOW, THEREFORE, in
consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

ARTICLE I

Purchase and sale

 

Section 1.01Purchase
and Sale. Subject to the terms and conditions set forth herein, at the Closing, Sellers shall sell to Buyer, and Buyer shall
purchase from Sellers, the Selling Shares, free and clear of any mortgage, pledge, lien, charge, security interest, claim, community property
interest, option, equitable interest, restriction of any kind (including any restriction on use, voting, transfer, receipt of income,
or exercise of any other ownership attribute), or other encumbrance (each, an “Encumbrance”).

 

    -2-

     

    

 

Section
1.02Post-Closing Capitalization.  After Closing, the Company’s capitalization will be
as shown in Schedule 1.02 of the Disclosure Schedules. The term “Disclosure
Schedules” means the disclosure schedules, attached hereto, and made a part hereof, delivered by Seller concurrently with the
execution, closing, and delivery of this Agreement.

 

Section 1.03Payment
at Closing. Upon the terms and subject to the conditions set forth in this Agreement, at the Closing, Buyer shall do the following
(collectively, “Buyer Deliveries”):

 

(a) pay
to PLYF an amount in cash equal to $125,000 (the “PLYF Cash Consideration”); Buyer shall pay the Cash Consideration
to PLYF at the Closing in cash by wire transfer of immediately available funds in accordance with the wire transfer instructions set forth
in Section 1.03 of the Disclosure Schedules;

 

(b) pay
to Willis an amount in cash equal to $19,750 (the “Willis Cash Consideration”); Buyer shall pay the Cash Consideration
to Willis at the Closing in cash by wire transfer of immediately available funds in accordance with the wire transfer instructions set
forth in Section 1.03 of the Disclosure Schedules;

 

(c) issue
and deliver to PLYF 184,178 of 193,871 shares of Buyer’s Common Stock, obtained by dividing $682,427 by $3.52, the bargained-for
per share price of Buyer’s Common Stock (the “Buyer Common Stock”), which may be represented by one or
more certificates, or the extent not in certificate form, such transfer of Buyer Common Stock to be evidenced in book-entry form, at Buyer’s
election. The additional 9,694 shares of Buyer Common Stock (5% of the total Buyer Common Stock to be issued and delivered to PLYF) (the
“PLYF Holdback Buyer Common Stock”) shall be subject to holdback and shall be issued and delivered to PLYF upon the
expiration of the Indemnification Holdback Period (as defined in Section 7.04 of this Agreement). Shares of Buyer common Stock issued
and delivered to PLYF shall be restricted stock; and

 

(d) issue
and deliver to Willis 29,100 of 30,632 shares of Buyer’s Common Stock, obtained by dividing $107,823 by $3.52, the bargained-for
per share price of Buyer’s Common Stock, which may be represented by one or more certificates, or the extent not in certificate
form, such transfer of Buyer Common Stock to be evidenced in book-entry form, at Buyer’s election. The additional 1,532 shares of
Buyer Common Stock (5% of the total Buyer Common Stock to be issued and delivered to Willis) (the “Willis Holdback Buyer Common
Stock,” and together with the PLYF Holdback Buyer Common Stock, collectively, the “Holdback Buyer Common Stock”)
shall be subject to holdback and shall be issued and delivered to Willis upon the expiration of the Indemnification Holdback Period. Shares
of Buyer common Stock issued and delivered to Willis shall be restricted securities. 

 

    -3-

     

    

 

ARTICLE II

CLOSING

 

Section 2.01Closing.
The closing of the transactions contemplated by this Agreement (the “Closing”) shall take place simultaneously
with the execution of this Agreement on the date of this Agreement (the “Closing Date”) at the offices of Lucosky Brookman
LLP, 101 Wood Avenue South, Woodbridge, New Jersey 08830, or remotely by exchange of documents and signatures (or their electronic counterparts).
The consummation of the transactions contemplated by this Agreement shall be deemed to occur at 10:00 AM ET time on the Closing Date.

 

Section 2.02Company
and Sellers Closing Deliverables. At the Closing, the Company and Sellers shall deliver to Buyer the following:

 

(a) A
certificate of the Secretary (or other officer) of the Company certifying: (i) that attached thereto are true and complete copies of all
resolutions of the board of directors and the stockholders of the Company authorizing the execution, delivery, and performance of this
Agreement, and the other agreements, instruments, and documents required to be delivered in connection with this Agreement or at the Closing
(collectively, the “Transaction Documents”) to which Sellers and the Company are a party and the consummation of the
transactions contemplated hereby and thereby, and that such resolutions are in full force and effect; (ii) the names, titles, and signatures
of the officers of the Company authorized to sign this Agreement and the other Transaction Documents; and (iii) that attached thereto
are true and complete copies of the governing documents of the Company, including any amendments or restatements thereof, and that such
governing documents are in full force and effect.

 

(b) A
good standing certificate (or its equivalent) for the Company from the secretary of state or similar Governmental Authority of the jurisdiction
in which the Company is organized and each jurisdiction where the Company is required to be qualified, registered, or authorized to do
business. The term “Governmental Authority” means any federal, state, local, or foreign government or political subdivision
thereof, or any agency or instrumentality of such government or political subdivision, or any arbitrator, court, or tribunal of competent
jurisdiction.

 

(c) A
certificate pursuant to Treasury Regulations Section 1.1445-2(b) that Seller is not a foreign person within the meaning of Section 1445
of the Internal Revenue Code of 1986 (as amended, the “Code”).

 

Section 2.03Buyer’s
Deliveries. At the Closing, Buyer shall deliver to Sellers, the PLYF and Willis Cash Consideration and Buyer’s Common
Stock as set forth in Section 1.03.

 

ARTICLE III

Representations and warranties of the company and sellers

 

The Company and the Sellers
represent and warrant to Buyer that the statements contained in this Article III are
true and correct as of the date hereof. For purposes of this Article III, “Sellers’
knowledge,” “knowledge of Sellers,” and any similar phrases shall mean the actual or constructive knowledge
of any director or officer of the Company and Sellers, after due inquiry.

 

Section
3.01Organization and Authority of the Company and Sellers. The Company is a corporation duly organized, validly existing,
and in good standing under the Laws (as defined in Section 3.04) of the state of Delaware.
The Company has full power and authority to enter into this Agreement and the other Transaction Documents to which it and Sellers are
a party, to carry out the obligations hereunder and thereunder, and to consummate the transactions contemplated hereby and thereby. The
execution and delivery of this Agreement and any other Transaction Document to which the Company and Sellers are a party, the performance
by Sellers of their obligations hereunder and thereunder, and the consummation by the Company and Sellers of the transactions contemplated
hereby and thereby have been duly authorized by all requisite corporate action on the part of the Company. This Agreement and each Transaction
Document to which the Company and Sellers are a party constitute legal, valid, and binding obligations of the Company and Sellers enforceable
against the Company and Sellers in accordance with their respective terms.

 

    -4-

     

    

 

Section
3.02Capitalization.

 

(a) All
of the Shares have been duly authorized, are validly issued, fully paid and nonassessable, and are owned of record and beneficially by
Seller, free and clear of all Encumbrances. Upon the transfer, assignment, and delivery of the Shares and payment therefor in accordance
with the terms of this Agreement, Buyer shall own all of the Selling Shares, free and clear of all Encumbrances.

 

(b) All
of the Shares were issued in compliance with applicable Laws. None of the Shares were issued in violation of any agreement or commitment
to which Seller or the Company is a party or is subject to or in violation of any preemptive or similar rights of any individual, corporation,
partnership, joint venture, limited liability company, Governmental Authority, unincorporated organization, trust, association, or other
entity (each, a “Person”).

 

(c) Except
as set out in Schedule 3.02(c), there are no outstanding or authorized options, warrants, convertible securities, stock
appreciation, phantom stock, profit participation, or other rights, agreements, or commitments relating to the shares of the Company or
obligating Seller or the Company to issue or sell any shares of, or any other interest in, the Company. There are no voting trusts, stockholder
agreements, proxies, or other agreements in effect with respect to the voting or transfer of any of the Shares.

 

Section
3.03No Subsidiaries. The Company does not have, or have the right to acquire, an ownership interest in any other Person.

 

Section
3.04No Conflicts or Consents. The execution, delivery, and performance by the Company and Sellers of this Agreement and
the other Transaction Documents to which they are a party, and the consummation of the transactions contemplated hereby and thereby, do
not and will not: (a) violate or conflict with any provision of the certificate of incorporation, by-laws, or other governing documents
of the Company; (b) violate or conflict with any provision of any statute, law, ordinance, regulation, rule, code, treaty, or other requirement
of any Governmental Authority (collectively, “Law”) or any order, writ, judgment, injunction, decree, determination,
penalty, or award entered by or with any Governmental Authority (“Governmental Order”) applicable to Sellers or the
Company; (c) require the consent, notice, or filing with or other action by any Person or require any Permit, license, or Governmental
Order; (d) violate or conflict with, result in the acceleration of, or create in any party the right to accelerate, terminate, or modify
any contract, lease, deed, mortgage, license, instrument, note, indenture, joint venture, or any other agreement, commitment, or legally
binding arrangement, whether written or oral (collectively, “Contracts”), to which Sellers or the Company are a party
or by which Sellers or the Company is bound or to which any of their respective properties and assets are subject; or (e) result in the
creation or imposition of any Encumbrance on any properties or assets of the Company.

 

    -5-

     

    

 

Section
3.05Financial Statements. Complete copies of the Company’s audited financial statements consisting of the balance
sheet of the Company as at December 31 in each of the years in existence and the related statements of income and retained earnings, stockholders’
equity, and cash flow for the years then ended (the “Financial Statements”) have been delivered to Buyer; provided,
however, that if the Sellers do not have audited financial statements for the Company, it will cooperate if the Buyer determines at any
time that is needs audited financial statements of the Company. Except as disclosed in Schedule 3.05, the Financial Statements
have been prepared in accordance with generally accepted accounting principles in effect in the United States from time to time (“GAAP”),
applied on a consistent basis throughout the period involved. The Financial Statements are based on the books and records of the Company
and fairly present the financial condition of the Company as of the respective dates they were prepared and the results of the operations
of the Company for the periods indicated. The balance sheet of the Company as of December 31, 2020 is referred to herein as the “Balance
Sheet” and the date thereof as the “Balance Sheet Date”. The Company maintains a standard system of accounting
established and administered in accordance with GAAP.

 

Section 3.06Liabilities.
The Company has no liabilities, obligations, or commitments of any nature whatsoever, whether asserted, known, absolute, accrued, matured,
or otherwise (collectively, “Liabilities”), except: (a) those which are adequately reflected or reserved against in
the Balance Sheet as of the Balance Sheet Date; and (b) those which have been incurred in the ordinary course of business consistent with
past practice since the Balance Sheet Date and which are not, individually or in the aggregate, material in amount. Except as disclosed
in Schedule 3.06, the Company further represents and warrants that as of the Closing Date

 

a.
the Company’s outstanding debt will equal US$0;

 

b. the Company's obligations
to Clients shall equal US$0; and

 

c. the Company’s
obligations to Talent shall equal US$0.

 

Notwithstanding anything in
this Section 3.06 to the contrary, in the event the Company has collected a deposit for a delayed marketing campaign that will launch
after the Closing, the Company shall have reserved in its bank account, as of the Closing, sufficient cash required to satisfy its post-Closing
obligations with respect to such delayed marketing campaign.

 

Section
3.07Absence of Certain Changes, Events, and Conditions. Since the Balance Sheet Date, and other than in the ordinary course
of business consistent with past practice, there has not been, with respect to the Company, any change, event, condition, or development
that is, or could reasonably be expected to be, individually or in the aggregate, materially adverse to the business, results of operations,
condition (financial or otherwise), or assets of the Company.

 

    -6-

     

    

 

Section
3.08Material Contracts.

 

(a) Schedule
3.08(a) lists each Contract that is material to the Company (such Contracts, together with all Contracts concerning the occupancy,
management, or operation of any Real Property (as defined in Section 3.09), being “Material
Contracts”), including the following:

 

(i) each
Contract of the Company involving aggregate consideration in excess of $5,000 and which, in each case, cannot be cancelled by the Company
without penalty or without more than 30 days’ notice;

 

(ii) all
Contracts that provide for the indemnification by the Company of any Person or the assumption of any Tax (as defined in Section 3.18(a)),
environmental, or other Liability of any Person;

 

(iii) all
Contracts relating to Intellectual Property (as defined in Section 3.10(a)), including
all licenses, sublicenses, settlements, coexistence agreements, covenants not to sue, and permissions;

 

(iv) all
Contracts relating to trade payables;

 

(v) all
Contracts relating to indebtedness (including, without limitation, guarantees) of the Company; and

 

(vi) all
Contracts that limit or purport to limit the ability of the Company to compete in any line of business or with any Person or in any geographic
area or during any period of time.

 

(b) Each
Material Contract is valid and binding on the Company in accordance with its terms and is in full force and effect. None of the Company
or, to Sellers’ knowledge, any other party thereto is in breach of or default under (or is alleged to be in breach of or default
under) or has provided or received any notice of any intention to terminate, any Material Contract. Complete and correct copies of each
Material Contract (including all modifications, amendments, and supplements thereto and waivers thereunder) have been made available to
Buyer.

 

Section 3.09Real
Property; Title to Assets. Schedule 3.09(a) lists all real property in which the Company has an ownership or leasehold
(or subleasehold) interest (together with all buildings, structures, and improvements located thereon, the “Real Property”),
including: (i) the street address of each parcel of Real Property; (ii) for Real Property that is leased or subleased by the Company,
the landlord under the lease, the rental amount currently being paid, and the expiration of the term of such lease or sublease, and any
termination or renewal rights of any party to the lease; and (iii) the current use of each parcel of Real Property. Sellers have delivered
or made available to Buyer true, correct, and complete copies of all Contracts, title insurance policies, and surveys relating to the
Real Property.

 

    -7-

     

    

 

Section
3.10Intellectual Property.

 

(a) The
term “Intellectual Property” means any and all of the following in any jurisdiction throughout the world: (i) issued
patents and patent applications; (ii) trademarks, service marks, trade names, and other similar indicia of source or origin, together
with the goodwill connected with the use of and symbolized by, and all registrations, applications for registration, and renewals of,
any of the foregoing; (iii) copyrights, including all applications and registrations; (iv) trade secrets, know-how, inventions (whether
or not patentable), technology, and other confidential and proprietary information and all rights therein; (v) internet domain names and
social media accounts and pages; and (vi) other intellectual or industrial property and related proprietary rights, interests, and protections.

 

(b) Schedule
3.10(b) lists all issued patents, registered trademarks, domain names and copyrights, and pending applications for any of the
foregoing and all material unregistered Intellectual Property that are owned by the Company (the “Company IP Registrations”).
The Company owns or has the valid and enforceable right to use all Intellectual Property used or held for use in or necessary for the
conduct of the Company’s business as currently conducted or as proposed to be conducted (the “Company Intellectual Property”),
free and clear of all Encumbrances. All of the Company Intellectual Property is valid and enforceable, and all Company IP Registrations
are subsisting and in full force and effect. The Company has taken all necessary steps to maintain and enforce the Company Intellectual
Property.

 

(c) The
conduct of the Company’s business as currently and formerly conducted and as proposed to be conducted has not infringed, misappropriated,
or otherwise violated and will not infringe, misappropriate, or otherwise violate the Intellectual Property or other rights of any Person.
No Person has infringed, misappropriated, or otherwise violated any Company Intellectual Property.

 

Section
3.11Material Customers and Suppliers. 

 

(a) Schedule
3.11(a) sets forth each customer who has paid aggregate consideration to the Company for goods or services rendered in an amount
greater than or equal to $5,000 for each of the two most recent fiscal years (collectively, the “Material Customers”).
The Company has not received any notice, and has no reason to believe, that any of its Material Customers has ceased, or intends to cease
after the Closing, to purchase or use its goods or services or to otherwise terminate or materially reduce its relationship with the Company.

 

(b) Schedule
3.11(b) sets forth each supplier to whom the Company has paid consideration for goods or services rendered in an amount greater
than or equal to $5,000 for each of the two most recent fiscal years (collectively, the “Material Suppliers”). The
Company has not received any notice, and has no reason to believe, that any of its Material Suppliers has ceased, or intends to cease,
to supply goods or services to the Company or to otherwise terminate or materially reduce its relationship with the Company.

 

    -8-

     

    

 

Section 3.12Insurance.
Schedule 3.12 sets forth a true and complete list of all current policies or binders of insurance maintained by Sellers or
its Affiliates (including the Company) and relating to the assets, business, operations, employees, officers, and directors of the Company
(collectively, the “Insurance Policies”). Such Insurance Policies: (a) are in full force and effect; (b) are valid
and binding in accordance with their terms; (c) are provided by carriers who are financially solvent; and (d) have not been subject to
any lapse in coverage. Neither Sellers nor any of their Affiliates (including the Company) has received any written notice of cancellation
of, premium increase with respect to, or alteration of coverage under, any of such Insurance Policies. All premiums due on such Insurance
Policies have been paid. None of Sellers or any of their Affiliates (including the Company) is in default under, or has otherwise failed
to comply with, in any material respect, any provision contained in any Insurance Policy. The Insurance Policies are of the type and in
the amounts customarily carried by Persons conducting a business similar to the Company and are sufficient for compliance with all applicable
Laws and Contracts to which the Company is a party or by which it is bound. For purposes of this Agreement: (x) “Affiliate”
of a Person means any other Person that directly or indirectly, through one or more intermediaries, controls, is controlled by, or is
under common control with, such Person; and (y) the term “control” (including the terms “controlled by”
and “under common control with”) means the possession, directly or indirectly, of the power to direct or cause the direction
of the management and policies of a Person, whether through the ownership of voting securities or other ownership interests, by contract,
or otherwise.

 

Section
3.13Legal Proceedings; Governmental Orders. 

 

(a) There
are no claims, actions, causes of action, demands, lawsuits, arbitrations, inquiries, audits, notices of violation, proceedings, litigation,
citations, summons, subpoenas, or investigations of any nature, whether at law or in equity (collectively, “Actions”)
pending or, to Sellers’ knowledge, threatened against or by the Company, Sellers, or any Affiliate of Sellers: (i) relating to or
affecting the Company or any of the Company’s properties or assets; or (ii) that challenge or seek to prevent, enjoin, or otherwise
delay the transactions contemplated by this Agreement. No event has occurred or circumstances exist that may give rise to, or serve as
a basis for, any such Action.

 

(b) There
are no outstanding, and the Company is in compliance with all, Governmental Orders against, relating to, or affecting the Company or any
of its properties or assets.

 

Section
3.14Compliance with Laws; Permits. 

 

(a) The
Company has complied, and is now complying, with all Laws applicable to it or its business, properties, or assets.

 

(b) All
permits, licenses, franchises, approvals, registrations, certificates, variances, and similar rights obtained, or required to be obtained,
from Governmental Authorities (collectively, “Permits”) in order for the Company to conduct its business, including,
without limitation, owning or operating any of the Real Property, have been obtained and are valid and in full force and effect. Schedule
3.14(b) lists all current Permits issued to the Company and no event has occurred that would reasonably be expected to result
in the revocation or lapse of any such Permit.

 

    -9-

     

    

 

Section 3.15Environmental
Matters.

 

(a) The
terms: (i) “Environmental Laws” means all Laws, now or hereafter in effect, in each case as amended or supplemented
from time to time, relating to the regulation and protection of human health, safety, the environment, and natural resources, including
any federal, state, or local transfer of ownership notification or approval statutes; and (ii) “Hazardous Substances”
means: (A) “hazardous materials,” “hazardous wastes,” “hazardous substances,” “industrial wastes,”
or “toxic pollutants,” as such terms are defined under any Environmental Laws; (B) any other hazardous or radioactive substance,
contaminant, or waste; and (C) any other substance with respect to which any Environmental Law or Governmental Authority requires environmental
investigation, regulation, monitoring, or remediation.

 

(b) The
Company has complied, and is now complying, with all Environmental Laws. Neither the Company nor Sellers have received notice from any
Person that the Company, its business or assets, or any real property currently or formerly owned, leased, or used by the Company is or
may be in violation of any Environmental Law or any applicable Law regarding Hazardous Substances.

 

(c) There
has not been any spill, leak, discharge, injection, escape, leaching, dumping, disposal, or release of any kind of any Hazardous Substances
in violation of any Environmental Law: (i) with respect to the business or assets of the Company; or (ii) at, from, in, adjacent to, or
on any real property currently or formerly owned, leased, or used by the Company. There are no Hazardous Substances in, on, about, or
migrating to any real property currently or formerly owned, leased, or used by the Company, and such real property is not affected in
any way by any Hazardous Substances.

 

Section 3.16Employee
Benefit Matters.

 

(a) Schedule
3.16(a) contains a true and complete list of each “employee benefit plan” as defined in Section 3(3) of the Employee
Retirement Income Security Act of 1974 (as amended, and including the regulations thereunder, “ERISA”), whether or
not written and whether or not subject to ERISA, and each supplemental retirement, compensation, employment, consulting, profit-sharing,
deferred compensation, incentive, bonus, equity, change in control, retention, severance, salary continuation, and other similar agreement,
plan, policy, program, practice, or arrangement which is or has been established, maintained, sponsored, or contributed to by the Company
or under which the Company has or may have any Liability (each, a “Benefit Plan”).

 

(b) For
each Benefit Plan, Sellers have made available to Buyer accurate, current, and complete copies of each of the following: (i) the plan
document with all amendments, or if not reduced to writing, a written summary of all material plan terms; (ii) any written contracts and
arrangements related to such Benefit Plan, including trust agreements or other funding arrangements, and insurance policies, certificates,
and contracts; (iii) in the case of a Benefit Plan intended to be qualified under Section 401(a) of the Code, the most recent favorable
determination or national office approval letter issued by the Internal Revenue Service and any legal opinions issued thereafter with
respect to the Benefit Plan’s continued qualification; (iv) the most recent Form 5500 filed with respect to such Benefit Plan; and
(v) any material notices, audits, inquiries, or other correspondence from, or filings with, any Governmental Authority relating to the
Benefit Plan.

 

    -10-

     

    

 

(c) Each
Benefit Plan and related trust has been established, administered, and maintained in accordance with its terms and in compliance with
all applicable Laws (including ERISA and the Code). Nothing has occurred with respect to any Benefit Plan that has subjected or could
subject the Company or, with respect to any period on or after the Closing Date, Buyer, or any of its Affiliates, to a civil action, penalty,
surcharge, or Tax under applicable Law or which would jeopardize the previously determined qualified status of any Benefit Plan. All benefits,
contributions, and premiums relating to each Benefit Plan have been timely paid in accordance with the terms of such Benefit Plan and
all applicable Laws and accounting principles. Benefits accrued under any unfunded Benefit Plan have been paid, accrued, or adequately
reserved for to the extent required by GAAP.

 

(d) The
Company has not incurred and does not reasonably expect to incur: (i) any Liability under Title I or Title IV of ERISA, any related provisions
of the Code, or applicable Law relating to any Benefit Plan; or (ii) any Liability to the Pension Benefit Guaranty Corporation. No complete
or partial termination of any Benefit Plan has occurred or is expected to occur.

 

(e) The
Company has not now or at any time within the previous six years contributed to, sponsored, or maintained: (i) any “multiemployer
plan” as defined in Section 3(37) of ERISA; (ii) any “single-employer plan” as defined in Section 4001(a)(15) of ERISA;
(iii) any “multiple employer plan” as defined in Section 413(c) of the Code; (iv) any “multiple employer welfare arrangement”
as defined in Section 3(40) of ERISA; (v) a leveraged employee stock ownership plan described in Section 4975(e)(7) of the Code; or (vi)
any other Benefit Plan subject to required minimum funding requirements.

 

(f) Other
than as required under Sections 601 to 608 of ERISA or other applicable Law, no Benefit Plan provides post-termination or retiree welfare
benefits to any individual for any reason.

 

(g) Neither
the execution of this Agreement nor any of the transactions contemplated by this Agreement will, either alone or in combination with any
other event: (i) entitle any current or former director, officer, employee, independent contractor, or consultant of the Company to any
severance pay, increase in severance pay, or other payment; (ii) accelerate the time of payment, funding, or vesting, or increase the
amount of compensation (including stock-based compensation) due to any such individual; (iii) limit or restrict the right of the Company
to amend or terminate any Benefit Plan; (iv) increase the amount payable under any Benefit Plan; (v) result in any “excess parachute
payments” within the meaning of Section 280G(b) of the Code; or (vi) require a “gross-up” or other payment to any “disqualified
individual” within the meaning of Section 280G(c) of the Code.

 

    -11-

     

    

 

Section 3.17Employment
Matters.

 

(a) Schedule
3.17(a) lists: (i) all employees, independent contractors, and consultants of the Company; and (ii) for each individual described
in clause (i), (A) the individual’s title or position, hire date, and compensation, (B) any Contracts entered into between the Company
and such individual, and (C) the fringe benefits provided to each such individual. All compensation payable to all employees, independent
contractors, or consultants of the Company for services performed on or prior to the Closing Date have been paid in full.

 

(b) The
Company is not, and has not been, a party to or bound by any collective bargaining agreement or other Contract with a union or similar
labor organization (collectively, “Union”), and no Union has represented or purported to represent any employee of
the Company. There has never been, nor has there been any threat of, any strike, work stoppage, slowdown, picketing, or other similar
labor disruption or dispute affecting the Company or any of its employees.

 

(c) The
Company is and has been in compliance with: (i) all applicable employment Laws and agreements regarding
hiring, employment, termination of employment, plant closings and mass layoffs, employment discrimination, harassment, retaliation, and
reasonable accommodation, leaves of absence, terms and conditions of employment, wages and hours of work, employee classification, employee
health and safety, engagement and classification of independent contractors, payroll taxes, and immigration with respect to all employees,
independent contractors, and contingent workers; and (ii) all applicable Laws relating to
the relations between it and any labor organization, trade union, work council, or other body representing employees of the Company.

 

(d) The
Company is and has been in compliance with all tax filings and taxes owed relating to personnel listed on Schedule 3.17(a).

 

Section
3.18Taxes.

 

(a) All
returns, declarations, reports, information returns and statements, and other documents relating to Taxes (including amended returns and
claims for refund) (collectively, “Tax Returns”) required to be filed by the Company on or before the Closing Date
have been timely filed. Such Tax Returns are true, correct, and complete in all respects. All Taxes due and owing by the Company (whether
or not shown on any Tax Return) have been timely paid. No extensions or waivers of statutes of limitations have been given or requested
with respect to any Taxes of the Company. Seller has delivered to Buyer copies of all Tax Returns and examination reports of the Company
and statements of deficiencies assessed against, or agreed to by, the Company, for all Tax periods ending after 2018. The term “Taxes”
means all federal, state, local, foreign, and other income, gross receipts, sales, use, production, ad valorem, transfer, franchise, registration,
profits, license, lease, service, service use, withholding, payroll, employment, unemployment, estimated, excise, severance, environmental,
stamp, occupation, premium, property (real or personal), real property gains, windfall profits, customs, duties, or other taxes, fees,
assessments, or charges of any kind whatsoever, together with any interest, additions, or penalties with respect thereto.

 

(b) The
Company has not been a member of an affiliated, combined, consolidated, or unitary Tax group for Tax purposes. The Company has no Liability
for Taxes of any Person (other than the Company) under Treasury Regulations Section 1.1502-6 (or any corresponding provision of state,
local, or foreign Law), as transferee or successor, by contract, or otherwise.

 

    -12-

     

    

 

(c) There
are no liens for Taxes (other than for current Taxes not yet due and payable) upon the assets of the Company.

 

(d) Sellers
are not a “foreign person” as that term is used in Treasury Regulations Section 1.1445-2. The Company is not, nor has it been,
a United States real property holding corporation (as defined in Section 897(c)(2) of the Code) during the applicable period specified
in Section 897(c)(1)(a) of the Code.

 

(e) The
Company is and has been in compliance with all tax filings and taxes owed relating to personnel listed on Schedule 3.17(a)

 

Section
3.19Books and Records. The minute books and share record and transfer books of the Company, all of which are in the possession
of the Company and have been made available to Buyer, are complete and correct.

 

Section
3.20Brokers. No broker, finder, or investment banker is entitled to any brokerage, finder’s, or other fee or commission
in connection with the transactions contemplated by this Agreement or any other Transaction Document based upon arrangements made by or
on behalf of Sellers.

 

Section 3.21Full
Disclosure. No representation or warranty by the Company or Sellers in this Agreement and no statement contained in the Disclosure
Schedules to this Agreement or any certificate or other document furnished or to be furnished to Buyer pursuant to this Agreement contains
any untrue statement of a material fact or omits to state a material fact necessary to make the statements contained therein, in light
of the circumstances in which they are made, not misleading.

 

ARTICLE IV

Representations and warranties of buyer

 

Buyer represents and warrants
to Seller as follows:

 

Section 4.01Organization
and Authority of Buyer. Buyer is a limited liability company duly organized, validly existing, and in good standing under the
Laws of the state of Delaware. Buyer has requisite corporate power and authority to enter into this Agreement and the other Transaction
Documents to which Buyer is a party, to carry out its obligations hereunder and thereunder, and to consummate the transactions contemplated
hereby and thereby, including without limitation issuance of the Buyer Common Stock. The execution and delivery by Buyer of this Agreement
and any other Transaction Document to which Buyer is a party, the performance by Buyer of its obligations hereunder and thereunder, and
the consummation by Buyer of the transactions contemplated hereby (including without limitation issuance of the Buyer Common Stock) and
thereby have been duly authorized by all requisite corporate action on the part of Buyer. This Agreement and each Transaction Document
constitute legal, valid, and binding obligations of Buyer enforceable against Buyer in accordance with their respective terms.

 

    -13-

     

    

 

Section
4.02No Conflicts; Consents. The execution, delivery, and performance by Buyer of this Agreement and the other Transaction
Documents to which it is a party, and the consummation of the transactions contemplated hereby and thereby (including without limitation
issuance of the Buyer Common Stock), do not and will not: (a) violate or conflict with any provision of the certificate of incorporation,
by-laws, or other governing documents of Buyer; (b) violate or conflict with any provision of any Law or Governmental Order applicable
to Buyer; or (c) require the consent, notice, declaration, or filing with or other action by any Person or require any Permit, license,
or Governmental Order.

 

Section 4.03Investment
Purpose. Buyer is acquiring the Shares solely for its own account for investment purposes and not with a view to, or for offer
or sale in connection with, any distribution thereof or any other security related thereto within the meaning of the Securities Act of
1933, as amended (the “Securities Act”). Buyer acknowledges that Seller has not registered the offer and sale of the
Shares under the Securities Act or any state securities laws, and that the Shares may not be pledged, transferred, sold, offered for sale,
hypothecated, or otherwise disposed of except pursuant to the registration provisions of the Securities Act or pursuant to an applicable
exemption therefrom and subject to state securities laws and regulations, as applicable.

 

Section
4.04Buyer Common Stock. The shares of Buyer Common Stock issuable pursuant hereto, when issued
by Buyer in accordance with this Agreement, will be duly issued, fully paid, and non-assessable.

 

Section
4.05Condition of Assets/Cash Resources. Buyer has good and marketable title to all owned property
used in its business, and Buyer has (or will have at Closing) available to it sufficient funds to satisfy its monetary obligations in
order to consummate the transactions contemplated hereby. 

 

Section 4.06Brokers.
No broker, finder, or investment banker is entitled to any brokerage, finder’s, or other fee or commission in connection with the
transactions contemplated by this Agreement or any other Transaction Document based upon arrangements made by or on behalf of Buyer.

 

ARTICLE V

Covenants

 

Section 5.01Confidentiality.
From and after the Closing, the parties to this Agreement shall, and shall cause their respective Affiliates and its and their respective
directors, officers, employees, consultants, counsel, accountants, and other agents (collectively, “Representatives”)
to, hold in confidence any and all information, in any form, concerning the Company, except to the extent that such information is generally
available to and known by the public.

 

(a) If
Sellers or any of their Affiliates or their respective Representatives are compelled to disclose any information by Governmental Order
or Law, Sellers shall promptly notify Buyer in writing and shall disclose only that portion of such information which is legally required
to be disclosed; provided, however, Sellers shall use their best efforts to obtain as promptly as possible an appropriate protective
order or other reasonable assurance that confidential treatment will be accorded such information.

 

    -14-

     

    

 

(b) Notwithstanding
anything in this Section 5.01 to the contrary, the parties to this Agreement agree that the Buyer and its Representatives may use and
disclose any and all information concerning the Company required by Governmental Order or Law, and in Buyer’s dealings with potential
business partners and select investors.

 

Section
5.02Non-Competition; Non-Solicitation. 

 

See Section 5.02
of Disclosure Schedule.

 

Section 5.03Registration
of Shares of Buyer Common Stock.
The Company will file a registration statement on Form S-1 or Form S-3 covering the re-sale of the shares of Buyer Common Stock issued
to Sellers hereunder within ten (10) days of the date of this Agreement.

 

Section
5.04Leak-Out. Each
Seller agrees not to sell, transfer, trade or otherwise dispose, on any given day, a number of Buyer Common Stock that exceeds twenty
percent (20%) of the daily trading volume of the Buyer Common Stock on
the immediately prior trading
day.

 

ARTICLE VI

Tax matters

 

Section
6.01Tax Covenants. 

 

(a) Without
the prior written consent of Buyer, Sellers shall not, to the extent it may affect or relate to the Company: (i) make, change, or rescind
any Tax election; (ii) amend any Tax Return; (iii) take any position on any Tax Return; or (iv) take any action, omit to take any action,
or enter into any other transaction that would have the effect of increasing the Tax liability or reducing any Tax asset of Buyer or the
Company, in respect of any taxable period that begins after the Closing Date or, in respect of any taxable period that begins before and
ends after the Closing Date (each such period, a “Straddle Period”), the portion of any Straddle Period beginning after
the Closing Date.

 

(b) All
transfer, documentary, sales, use, stamp, registration, value added, and other such Taxes and fees (including any penalties and interest)
incurred in connection with this Agreement and the other Transaction Documents shall be borne and paid by Sellers when due. Sellers shall,
at their own expense, timely file any Tax Return or other document with respect to such Taxes or fees (and Buyer shall cooperate with
respect thereto as necessary).

 

(c) Buyer
shall prepare, or cause to be prepared, all Tax Returns required to be filed by the Company after the Closing Date with respect to any
taxable period or portion thereof ending on or before the Closing Date and all Straddle Period Tax Returns. Any such Tax Return shall
be prepared in a manner consistent with past practice (unless otherwise required by Law) and without a change of any election or any accounting
method.

 

Section
6.02Straddle Period. In the case of Taxes that are payable with respect to a Straddle Period, the portion of any such
Taxes that are allocated to Pre-Closing Tax Periods (as defined in Section 6.04) for purposes of this Agreement shall be: (a) in the
case of Taxes: (i) based upon, or related to, income, receipts, profits, wages, capital, or net worth; (ii) imposed in connection with
the sale, transfer, or assignment of property; or (iii) required to be withheld, the amount of Taxes which would be payable if the taxable
year ended with the Closing Date; and (b) in the case of other Taxes, the amount of such Taxes for the entire period multiplied by a
fraction, the numerator of which is the number of days in the period ending on the Closing Date and the denominator of which is the number
of days in the entire period.

 

    -15-

     

    

 

Section 6.03Termination
of Existing Tax Sharing Agreements. Any and all existing Tax sharing agreements (whether written or not) binding upon the Company
shall be terminated as of the Closing Date. After such date neither the Company, Sellers, nor any of Sellers’ Affiliates and their
respective Representatives shall have any further rights or liabilities thereunder.

 

Section 6.04Tax
Indemnification. Sellers shall indemnify the Company, Buyer, and each Buyer Indemnitee (as defined in Section 7.01) and hold
them harmless from and against (a) any loss, damage, liability, deficiency, Action, judgment, interest, award, penalty, fine, cost or
expense of whatever kind (collectively, including reasonable attorneys’ fees and the cost of enforcing any right to indemnification
under this Agreement, “Losses”) attributable to any breach of or inaccuracy in any representation or warranty made
in Section 3.18; (b) any Loss attributable to any breach or violation of, or failure to fully perform, any covenant, agreement, undertaking,
or obligation in Article VI; (c) all Taxes of the Company or relating to the business of the Company for all Pre-Closing Tax Periods
(as defined below); (d) all Taxes of any member of an affiliated, consolidated, combined, or unitary group of which the Company (or any
predecessor of the Company) is or was a member on or prior to the Closing Date by reason of a liability under Treasury Regulation Section
1.1502-6 or any comparable provisions of foreign, state, or local Law; and (e) any and all Taxes of any Person imposed on the Company
arising under the principles of transferee or successor liability or by contract, relating to an event or transaction occurring before
the Closing Date. In each of the above cases, together with any out-of-pocket fees and expenses (including attorneys’ and accountants’
fees) incurred in connection therewith, Seller shall reimburse Buyer for any Taxes of the Company that are the responsibility of Seller
pursuant to this Section 6.04 within ten business days after payment of such Taxes by Buyer or the Company. The term “Pre-Closing
Tax Period” means any taxable period ending on or before the Closing Date and, with respect to any taxable period beginning
before and ending after the Closing Date, the portion of such taxable period ending on and including the Closing Date.

 

Section 6.05No
Section 336(e) Election. Sellers shall not make an election under Section 336(e) of the Code with respect to the transactions
contemplated by this Agreement.

 

Section
6.06Cooperation and Exchange of Information. Sellers and Buyer shall provide each other with such cooperation and information
as either of them reasonably may request of the other in filing any Tax Return pursuant to this Article VI
or in connection with any proceeding in respect of Taxes of the Company, including providing copies of relevant Tax Returns and accompanying
documents. Each of Sellers and Buyer shall retain all Tax Returns and other documents in its possession relating to Tax matters of the
Company for any Pre-Closing Tax Period (collectively, “Tax Records”) until the expiration of the statute of limitations
of the taxable periods to which such Tax Records relate.

 

Section
6.07Survival. Notwithstanding anything in this Agreement to the contrary, the provisions of Section 3.18
and this Article VI shall survive for the full period of all applicable statutes of limitations
(giving effect to any waiver, mitigation, or extension thereof) plus 90 days.

 

    -16-

     

    

 

ARTICLE VII

Indemnification

 

Section
7.01Indemnification by Sellers. Subject to the other terms and conditions of this Article VII,
Willis and PLYF, each shall separately indemnify and defend each of Buyer and its Affiliates (including the Company) and their respective
Representatives (collectively, the “Buyer Indemnitees”) against, and shall hold each of them harmless from and against,
and shall pay and reimburse each of them for, any and all Losses incurred or sustained by, or imposed upon, the Buyer Indemnitees based
upon, arising out of, with respect to, or by reason of:

 

(a) any
inaccuracy in or breach of any of the representations or warranties of Sellers contained in this Agreement or the other Transaction Documents;
or

 

(b) any
breach or non-fulfillment of any covenant, agreement, or obligation to be performed by Sellers pursuant to this Agreement or the other
Transaction Documents.

 

Section
7.02Indemnification by Buyer. Subject to the other terms and conditions of this Article VII,
Buyer shall indemnify and defend each of Sellers and their Affiliates and their respective Representatives (collectively, the “Seller
Indemnitees”) against, and shall hold each of them harmless from and against, and shall pay and reimburse each of them for,
any and all Losses incurred or sustained by, or imposed upon, the Seller Indemnitees based upon, arising out of, with respect to, or by
reason of:

 

(a) any
inaccuracy in or breach of any of the representations or warranties of Buyer contained in this Agreement or the other Transaction Documents;

 

(b) any
breach or non-fulfillment of any covenant, agreement, or obligation to be performed by Buyer pursuant to this Agreement or

 

(c) any
acts, occurrences, or omissions related to the business or business activities of Company occurring after the Closing Date.

 

Section 7.03Indemnification
Procedures. Whenever any claim shall arise for indemnification hereunder, the party entitled to indemnification (the “Indemnified
Party”) shall promptly provide written notice of such claim to the other party (the “Indemnifying Party”).
In connection with any claim giving rise to indemnity hereunder resulting from or arising out of any Action by a Person who is not a party
to this Agreement, the Indemnifying Party, at its sole cost and expense and upon written notice to the Indemnified Party, may assume the
defense of any such Action with counsel reasonably satisfactory to the Indemnified Party. The Indemnified Party shall be entitled to participate
in the defense of any such Action, with its counsel and at its own cost and expense. If the Indemnifying Party does not assume the defense
of any such Action, the Indemnified Party may, but shall not be obligated to, defend against such Action in such manner as it may deem
appropriate, including settling such Action, after giving notice of it to the Indemnifying Party, on such terms as the Indemnified Party
may deem appropriate and no action taken by the Indemnified Party in accordance with such defense and settlement shall relieve the Indemnifying
Party of its indemnification obligations herein provided with respect to any damages resulting therefrom. The Indemnifying Party shall
not settle any Action without the Indemnified Party's prior written consent (which consent shall not be unreasonably withheld or delayed).

 

Section 7.04Survival.
Subject to the limitations and other provisions of this Agreement, the representations and warranties contained herein (other than any
representations or warranties contained in Section 3.18 which are subject to Article
VI) and all related rights to indemnification shall survive the Closing and shall remain
in full force and effect until the date that is 12 months from the Closing Date (the “Indemnification Holdback Period”);
provided, however, the representations and warranties in Section 3.01, Section
3.02, Section 3.03, Section 3.20,
Section 4.01 and Section 4.06 shall
survive indefinitely. Subject to Article VI, all covenants and agreements of the parties
contained herein shall survive the Closing indefinitely unless another period is explicitly specified herein. Notwithstanding the foregoing,
any claims which are timely asserted in writing by notice from the non-breaching party to the breaching party prior to the expiration
date of the applicable survival period shall not thereafter be barred by the expiration of the relevant representation or warranty and
such claims shall survive until finally resolved.

 

    -17-

     

    

 

Section 7.05Tax
Claims. Notwithstanding any other provision of this Agreement, the control of any claim, assertion, event, or proceeding in
respect of Taxes of the Company (including, but not limited to, any such claim in respect of a breach of the representations and warranties
in Section 3.18 hereof or any breach or violation of or failure to fully perform any
covenant, agreement, undertaking, or obligation in Article VI) shall be governed exclusively
by Article VI hereof.

 

Section 7.06Cumulative
Remedies. The rights and remedies provided for in this Article VII (and in
Article VI) are cumulative and are in addition to and not in substitution for any other rights and remedies available at Law or in equity
or otherwise.

 

Section
7.07Limitations on Indemnification. Neither PYLF nor Willis shall be liable to any of the Buyer
Indemnitees under Section 7.01 until the aggregate amount of all losses in respect of indemnification exceed Thirty Thousand Dollars ($30,000)
(the “Basket”). The aggregate amount of losses for which either PYLF or Willis
shall be liable pursuant to Section 7.01 shall not exceed thirty three and one-third percent (33.333%) of the purchase price paid to either
PYLF or Willis, as applicable. Additionally, any costs and expenses incurred by Buyer related to the Buyer Indemnitees during the Indemnification
Holdback Period, if any, shall offset the amount of Buyer Holdback Common Stock issued to PLYF and Willis, as applicable, after the expiration
of the Indemnification Holdback Period.

 

ARTICLE VIII

Miscellaneous

 

Section
8.01Expenses. All costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby
shall be paid by the party incurring such costs and expenses.

 

Section 8.02Notices.
All notices, claims, demands, and other communications hereunder shall be in writing and shall be deemed to have been given: (a) when
delivered by hand (with written confirmation of receipt); (b) when received by the addressee if sent by a nationally recognized overnight
courier (receipt requested); (c) on the date sent by facsimile or email of a PDF document (with confirmation of transmission) if sent
during normal business hours of the recipient, and on the next business day if sent after normal business hours of the recipient; or (d)
on the third day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid, if sent to the respective
parties at the following addresses (or at such other address for a party as shall be specified in a notice given in accordance with this
Section 8.02):

 

	If to Sellers:	 	
    Peace Love Yoga Foundation

    300 Lenora Street PMB 1596

    Seattle, WA 98121

    Email: info@yogihelpers.org

    Attention: Kenn Henman

     

    Tracy Willis

    WHE Agency, Inc.

    4803 SW Lander St.

    Seattle, WA 98116

    Attention: Tracy Willis

    Email: tracy@wheagency.com 

	 	 	 
	with a copy (which shall not constitute notice) to:	 	
    Weinberg Gonser LLP

    10866 Wilshire Blvd., PH 1650

    Los Angeles, CA 90024

    Attention: Matthew Bilinsky, Esq.

    Facsimile: 424-238-3060

    Email: mattb@weinberg-gonser.com 

	 	 	 
	If to Buyer:	 	
    Creatd Partners, LLC

    2050 Center Avenue, Suite 640

    Fort Lee, NJ 07024

    Email: jeremy@creatd.com

    Attention: Jeremy Frommer, CEO Creatd, Inc. 

	 	 	 
	with a copy (which shall not constitute notice) to:	 	
    Lucosky Brookman LLP

    101 Wood Avenue South

    Woodbridge, New Jersey 08830

    Facsimile: (732) 395-4401

    Email: jlucosky@lucbro.com
    and ahogan@lucbro.com

    Attention: Joseph M. Lucosky, Esq. and Adele Hogan, Esq. 

 

    -18-

     

    

 

Section
8.03Interpretation; Headings. This Agreement shall be construed without regard to any presumption or rule requiring construction
or interpretation against the party drafting an instrument or causing any instrument to be drafted. The headings in this Agreement are
for reference only and shall not affect the interpretation of this Agreement.

 

Section
8.04Severability. If any term or provision of this Agreement is invalid, illegal, or unenforceable in any jurisdiction,
such invalidity, illegality, or unenforceability shall not affect any other term or provision of this Agreement.

 

Section
8.05Entire Agreement. This Agreement and the other Transaction Documents constitute the sole and entire agreement of the
parties to this Agreement with respect to the subject matter contained herein and therein, and supersede all prior and contemporaneous
understandings and agreements, both written and oral, with respect to such subject matter. In the event of any inconsistency between the
statements in the body of this Agreement and those in the other Transaction Documents (and Exhibits, if any) and the Disclosure Schedules
(other than an exception expressly set forth as such in the Disclosure Schedules), the statements in the body of this Agreement will control.

 

Section
8.06Successors and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and
their respective successors and permitted assigns. Neither party may assign its rights or obligations hereunder without the prior written
consent of the other party, which consent shall not be unreasonably withheld or delayed. No assignment shall relieve the assigning party
of any of its obligations hereunder.

 

Section 8.07Amendment
and Modification; Waiver. This Agreement may only be amended, modified, or supplemented by an agreement in writing signed by
each party hereto. No waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth in writing and
signed by the party so waiving. No failure to exercise, or delay in exercising, any right or remedy arising from this Agreement shall
operate or be construed as a waiver thereof. No single or partial exercise of any right or remedy hereunder shall preclude any other or
further exercise thereof or the exercise of any other right or remedy.

 

Section
8.08Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.

 

(a) This
Agreement, including all matters arising out of or relating to this Agreement shall be governed by and construed in accordance with the
internal laws of the State of Delaware without giving effect to any choice or conflict of law provision or rule (whether of the State
of Delaware or any other jurisdiction). Any legal suit, action, proceeding, or dispute arising out of or related to this Agreement, the
other Transaction Documents, or the transactions contemplated hereby or thereby may be instituted in the federal courts of the United
States of America or the courts of the State of Delaware in each case located in the county of New Castle, and each party irrevocably
submits to the exclusive jurisdiction of such courts in any such suit, action, proceeding, or dispute.

 

(b)
EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT OR THE OTHER TRANSACTION DOCUMENTS IS LIKELY
TO INVOLVE COMPLICATED AND DIFFICULT ISSUES AND, THEREFORE, EACH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED
BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL ACTION, PROCEEDING, CAUSE OF ACTION, OR COUNTERCLAIM ARISING
OUT OF OR RELATING TO THIS AGREEMENT, INCLUDING ANY EXHIBITS AND SCHEDULES ATTACHED TO THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS,
OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT: (I) NO REPRESENTATIVE OF THE OTHER PARTY
HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE OTHER PARTY WOULD NOT SEEK TO ENFORCE THE FOREGOING WAIVER IN THE EVENT OF A LEGAL ACTION;
(II) EACH PARTY HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER; (III) EACH PARTY MAKES THIS WAIVER KNOWINGLY AND VOLUNTARILY; AND (IV)
EACH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

 

Section
8.09Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of
which together shall be deemed to be one and the same agreement. A signed copy of this Agreement delivered by email or other means of
electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.

 

[signature page follows]

 

    -19-

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be executed as of the date first written above by their respective officers thereunto
duly authorized.

 

	 	WHE AGENCY, INC.
	 	(Company)
	 	 	 
	 	By:	 
	 	Name:	 Kenneth Henman
	 	Title:	 CEO
	 	 	 
	 	Peace love yoga foundation, INC.
	 	(Seller)
	 	 	 
	 	By:	 
	 	Name:	 Kenneth Henman
	 	Title: 	 
	 	 	 
	 	tRACY wILLIS
	 	(Seller)
	 	 	 
	 	By:	    
	 		Tracy Willis
	 	 	 
	 	CREATD PARTNERS, LLC
	 	(Buyer)
	 	 	 
	 	By:	 
	 	Name:	 Jeremy Frommer
	 	Title:	 CEO

 

    -20-

     

    

 

DEFINITIONS CROSS-REFERENCE TABLE

 

The following terms have the meanings set forth
in the location in this Agreement referenced below:

 

	Term	 	Section
	Actions	 	Section  3.13(a)
	Affiliate	 	Section  3.12
	Agreement	 	Preamble
	Balance Sheet	 	Section  3.05
	Balance Sheet Date	 	Section  3.05
	Benefit Plans	 	Section  3.16(a)
	Buyer	 	Preamble
	Buyer Common Stock	 	Section 1.02(b)
	Buyer Indemnitees	 	Section  7.01
	Cash Consideration	 	Section 1.02(a)
	Closing	 	Section  2.01
	Closing Date	 	Section  2.01
	Code	 	Section  2.02(c)
	Company	 	Recitals
	Company Intellectual Property	 	Section  3.10(b)
	Company IP Registrations	 	Section  3.10(b)
	Contracts	 	Section  3.04
	Disclosure Schedules	 	Section  1.03
	Encumbrance	 	Section  1.01
	Environmental Laws	 	Section  3.15(a)
	ERISA	 	Section  3.16(a)
	Financial Statements	 	Section  3.05
	GAAP	 	Section  3.05
	Governmental Authority	 	Section  2.02(b)
	Governmental Order	 	Section  3.04
	Hazardous Substances	 	Section  3.15(a)
	Holdback Buyer Common Stock	 	Section 1.03(d)
	Indemnification Holdback Period	 	Section 7.04
	Indemnified Party	 	Section  7.03
	Indemnifying Party	 	Section  7.03
	Insurance Policies	 	Section  3.12
	Intellectual Property	 	Section  3.10(a)
	Law	 	Section  3.04
	Liabilities	 	Section  3.06
	Losses	 	Section  6.04
	Material Contracts	 	Section  3.08(a)
	Material Customers	 	Section  3.11(a)
	Material Suppliers	 	Section  3.11(b)
	Net Income	 	Section 1.03(a)
	Permits	 	Section  3.14(b)
	Person	 	Section  3.02(b)
	Pre-Closing Tax Period	 	Section  6.04
	PLYF	 	Preamble
	PLYF Holdback Buyer Common Stock	 	Section 1.03(c)
	Real Property	 	Section  3.09
	Representatives	 	Section  5.01
	Restricted Business	 	Schedule 5.02
	Securities Act	 	Section  4.03
	Sellers	 	Preamble
	Seller Indemnitees	 	Section  7.02
	Shares and Selling Shares	 	Recitals
	Straddle Period	 	Section  6.01(a)
	Target Amount	 	Section 1.03(a)
	Taxes	 	Section  3.18(a)
	Tax Records	 	Section  6.06
	Tax Returns	 	Section  3.18(a)
	Territory	 	Schedule 3.18
	Transaction Documents	 	Section  2.02(a)
	Union	 	Section  3.17(b)
	Willis	 	Preamble
	Willis Holdback Buyer Common Stock	 	Section 1.03(d)

  

    -21-

     

    

 

Disclosure Schedules

 

 

 

[see attached]

 

 

 

 

    -22-

     

    

 

Schedule 5.02

 

Non-Competition;
Non-Solicitation

 

(a) For
a period of five (5) years commencing on the Closing Date (the “Restricted Period”), Kenn Henman, individually or through
PLYF, its Affiliates, owners or employees (collectively “Henman”), shall not be permitted, whether directly or indirectly
through an affiliate, to: (i) engage in or assist others in engaging in any business, license, or activity whose prospects, customers
and partners include influencers, brand promoters, or persons who generate interest in family-focused
content, including, but not limited to, patenting, lifestyle, health, fashion and beauty, as well as related topics, whether tangible
or intangible, by use of social media, and brand advertisement agencies (the “Restricted Business”) in the United
States of America (the “Territory”); (ii) have an interest in any Person that engages, directly or indirectly, in the
Restricted Business in the Territory in any capacity, including as a partner, stockholder, director, officer, member, manager, employee,
contractor, principal, agent, volunteer, intern, advisor, or consultant; or (iii) intentionally interfere in any material respect with
the business relationships (whether formed prior to or after the date of this Agreement) between the Company and promoters, customers
or suppliers of the Company. Notwithstanding the above, Henman may own, directly or indirectly, solely as an investment, securities of
any Person traded on any national securities exchange if Henman are not a controlling Person of, or a member of a group which controls,
such Person and does not, directly or indirectly, own 5% or more of any class of securities of such Person. Furthermore, notwithstanding
anything set forth in this Schedule 5.02 to the contrary, Henman is permitted to engage in or assist others in engaging in any business,
license, or activity whose prospects, customers, promoters and partners include influencers, brand promoters, and persons
who generate interest in consumer products by use of social media and whose intellectual property, content and marketing activities
are predominantly (x) athletic and sports-based, and (y) not family-focused (collectively, “Sports
Talent”). Additionally, Henman is permitted to engage with or assist others in engaging in any business, license or activity
whose prospects, customers and partners include brand advertisers who promote Sports Talent. For the avoidance of doubt, (i) Henman is
not permitted to engage, solicit or represent Sports Talent in content and marketing activities that are, or become, family-focused and
(ii) in the event that Sports Talent becomes involved with topics that are primarily family-focused, Henman must cease his relationship
with the Sports Talent at such time.

 

(b) During
the Restricted Period, Henman shall not, and shall not permit any of his Affiliates to, directly or indirectly, hire or solicit any influencers,
brand promoters, or persons who generate interest the Restricted Business (“Talent”) that have been engaged by the
company during the Restricted Period or encourage any such Talent to cease providing services to the Company for five (5) years commencing
on the Closing Date; provided, however, that the provisions of this Schedule 5.02(b) shall not be applicable in the event
that such Talent is or becomes solely focused on activities conducted by Sports Talent.

 

(c) Henman
acknowledges that a breach or threatened breach of any of the subsections of this Schedule 5.02 would give rise to irreparable harm to
Buyer, for which monetary damages would not be an adequate remedy, and hereby agrees that in the event of a breach or a threatened breach
by Henman of any such obligations, Buyer shall, in addition to any and all other rights and remedies that may be available to it in respect
of such breach, be entitled to equitable relief, including a temporary restraining order, an injunction, or specific performance (without
any requirement to post bond).

 

(d) Henman
acknowledges that the restrictions contained in this Schedule 5.02 are reasonable and necessary to protect the legitimate interests of
Buyer and constitute a material inducement to Buyer to enter into this Agreement and consummate the transactions contemplated by this
Agreement. In the event that any covenant contained in this Schedule 5.02 should ever be adjudicated to exceed the time, geographic, product
or service, or other limitations permitted by applicable Law in any jurisdiction or any Governmental Order, then any court is expressly
empowered to reform such covenant, and such covenant shall be deemed reformed, in such jurisdiction to the maximum time, geographic, product
or service, or other limitations permitted by applicable Law or such Governmental Order. The covenants contained in this Schedule 5.02
and each provision hereof are severable and distinct covenants and provisions. The invalidity or unenforceability of any such covenant
or provision as written shall not invalidate or render unenforceable the remaining covenants or provisions hereof, and any such invalidity
or unenforceability in any jurisdiction shall not invalidate or render unenforceable such covenant or provision in any other jurisdiction.

 

-23-

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