Document:

VoIP-Pal.Com Inc. 10-K

 

Exhibit 10.2 

VOIP-PAL.COM
INC.

INCENTIVE
STOCK OPTION PLAN

1.

Purpose

The
purpose of the Incentive Stock Option Plan (the “Plan”) of VOIP-PAL.COM INC., a corporation incorporated
under the laws of the State of Nevada (the “Corporation”), is to advance the interests of the Corporation by
encouraging the directors, officers, employees, consultants and other service providers of the Corporation, and of its subsidiaries
and affiliates, if any, to acquire common shares in the share capital of the Corporation (the “Shares”), thereby
increasing their proprietary interest in the Corporation, encouraging them to remain associated with the Corporation and furnishing
them with additional incentive in their efforts on behalf of the Corporation in the conduct of its affairs.

 

2.

Administration

The
Plan shall be administered by the Board of Directors of the Corporation or by a special committee of the directors appointed from
time to time by the Board of Directors of the Corporation pursuant to rules of procedure fixed by the Board of Directors (such
committee or, if no such committee is appointed, the Board of Directors of the Corporation, is hereinafter referred to as the
“Board”). A majority of the Board shall constitute a quorum, and the acts of a majority of the directors present
at any meeting at which a quorum is present, or acts unanimously approved in writing, shall be the acts of the directors.

Subject
to the provisions of the Plan, the Board shall have authority to construe and interpret the Plan and all option agreements entered
into thereunder, to define the terms used in the Plan and in all option agreements entered into thereunder, to prescribe, amend
and rescind rules and regulations relating to the Plan and to make all other determinations necessary or advisable for the administration
of the Plan. All determinations and interpretations made by the Board shall be binding and conclusive on all participants in the
Plan and on their legal personal representatives and beneficiaries.

Each
option granted hereunder may be evidenced by an agreement in writing, signed on behalf of the Corporation and by the optionee,
in such form as the Board shall approve. Each such agreement shall recite that it is subject to the provisions of this Plan.

3.

Stock
Exchange Rules and Regulatory Authority

All
options granted pursuant to this Plan shall be subject to rules and policies of any stock exchange or exchanges on which the common
shares of the Corporation are then listed and trading (the “Exchange”) and any other regulatory body having
jurisdiction.

 

4.

Shares
Subject to Plan

Subject
to adjustment as provided in Section 15 hereof, the Shares to be offered under the Plan shall consist of common shares of the
Corporation's authorized but unissued common shares. The aggregate number of Shares issuable upon the exercise of all options
granted under the Plan shall not exceed 10% of the issued and outstanding common shares of the Corporation from time to time.
If any option granted hereunder shall expire or terminate for any reason in accordance with the terms of the Plan without being
exercised, the unpurchased Shares subject thereto shall again be available for the purpose of this Plan.

 

5.

Maintenance
of Sufficient Capital

The
Corporation shall at all times during the term of the Plan reserve and keep available such numbers of Shares as will be sufficient
to satisfy the requirements of the Plan.

 

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6.

Eligibility
and Participation

Directors,
officers, consultants, and employees of the Corporation or its subsidiaries, and employees of a person or company which provides
management services to the Corporation or its subsidiaries (“Management Company Employees”) shall be eligible
for selection to participate in the Plan (such persons hereinafter collectively referred to as “Participants”).
Subject to compliance with applicable requirements of the Exchange, Participants may elect to hold options granted to them in
an incorporated entity wholly owned by them and such entity shall be bound by the Plan in the same manner as if the options were
held by the Participant.

Subject
to the terms hereof, the Board shall determine to whom options shall be granted, the terms and provisions of the respective option
agreements, the time or times at which such options shall be granted and vested, and the number of Shares to be subject to each
option. In the case of employees or consultants of the Corporation or Management Company Employees, the option agreements to which
they are party must contain a representation of the Corporation that such employee, consultant or Management Company Employee,
as the case may be, is a bona fide employee, consultant or Management Company Employee of the Corporation or its subsidiaries.

A
Participant who has been granted an option may, if such Participant is otherwise eligible, and if permitted under the policies
of the Exchange, be granted an additional option or options if the Board shall so determine.

 

7.

Exercise
Price

(a)

The exercise price of the Shares subject to each option shall be determined by the Board, subject to applicable Exchange approval,
at the time any option is granted. In no event shall such exercise price be lower than the Discounted Market Price, defined as
that price that is 25% below the closing price of the shares on the Exchange.

(b)

Once the exercise price has been determined by the Board, and the option has been granted, the exercise price of an option may
be reduced upon receipt of Board approval, provided that in the case of options held by insiders of the Corporation (as defined
in the policies of the Exchange), the exercise price of an option may be reduced only if disinterested shareholder approval is
obtained. In this Plan, “Disinterested Shareholder Approval” means an ordinary resolution approved by a majority
of the votes cast at a shareholders’ meeting of the Corporation, excluding votes attaching to Shares beneficially owned
by insiders to whom Options may be granted and associates of those person. 

8.

Number
of Optioned Shares

(a)

The number of Shares subject to an option granted to any one Participant shall be determined by the Board, but no one Participant
shall be granted an option which exceeds the maximum number permitted by the Exchange.

(b)

No single Participant may be granted options to purchase a number of Shares equalling more than 5% of the issued common shares
of the Corporation in any one twelve-month period unless the Corporation has obtained Disinterested Shareholder Approval in respect
of such grant and meets applicable Exchange requirements.

(c)

Options shall not be granted if the exercise thereof would result in the issuance of more than 2% of the issued common shares
of the Corporation in any twelve-month period to any one consultant of the Corporation (or any of its subsidiaries).

(d)

Options shall not be granted if the exercise thereof would result in the issuance of more than 2% of the issued common shares
of the Corporation in any twelve month period to persons employed to provide investor relations activities. Options granted to
Consultants performing investor relations activities will contain vesting provisions such that vesting occurs over at least 12
months with no more than 1⁄4 of the options vesting in any 3 month period.

9.

Duration
of Option

Each
option and all rights thereunder shall be expressed to expire on the date set out in the option agreement and shall be subject
to earlier termination as provided in Sections 11 and 12, provided that in no circumstances shall the duration of an option exceed
the maximum term of ten years from the date of issue.

 

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10.

Option
Period, Consideration and Payment

(a)

The option period shall be a period of time fixed by the Board not to exceed the maximum term permitted by the Exchange, provided
that the option period shall be reduced with respect to any option as provided in Sections 11 and 12 covering cessation as a director,
officer, consultant, employee or Management Company Employee of the Corporation or its subsidiaries, or death of the Participant.

(b)

Subject to any vesting restrictions imposed by the Exchange, the Board may, in its sole discretion, determine the time during
which options shall vest and the method of vesting, or that no vesting restriction shall exist.

(c)

Subject to any vesting restrictions imposed by the Board, options may be exercised in whole or in part at any time and from time
to time during the option period. 

(d)

Except as set forth in Sections 11 and 12, no option may be exercised unless the Participant is at the time of such exercise a
director, officer, consultant, or employee of the Corporation or any of its subsidiaries, or a Management Company Employee of
the Corporation or any of its subsidiaries.

(e)

The exercise of any option will be contingent upon receipt by the Corporation at its head office of a written notice of exercise,
specifying the number of Shares with respect to which the option is being exercised, accompanied by cash payment, certified cheque
or bank draft for the full purchase price of such Shares with respect to which the option is exercised. No Participant or his
legal representatives, legatees or distributees will be, or will be deemed to be, a holder of any common shares of the Corporation
unless and until the certificates for Shares issuable pursuant to options under the Plan are issued to him or them under the terms
of the Plan.

11.

Ceasing
To Be a Director, Officer, Consultant or Employee

If
a Participant shall cease to be a director, officer, consultant, employee of the Corporation, or its subsidiaries, or ceases to
be a Management Company Employee, for any reason (other than death), such Participant may exercise his option to the extent that
the Participant was entitled to exercise it at the date of such cessation, provided that such exercise must occur within 90 days
after the Participant ceases to be a director, officer, consultant, employee or a Management Company Employee, unless such Participant
was engaged in investor relations activities, in which case such exercise must occur within 30 days after the cessation of the
Participant's services to the Corporation.

 

Nothing
contained in the Plan, nor in any option granted pursuant to the Plan, shall as such confer upon any Participant any right with
respect to continuance as a director, officer, consultant, employee or Management Company Employee of the Corporation or of any
of its subsidiaries or affiliates.

 

12.

Death
of Participant

Notwithstanding
section 11, in the event of the death of a Participant, the option previously granted to him shall be exercisable only within
the one (1) year after such death and then only:

 

(a)

by the person or persons to whom the Participant's rights under the option shall pass by the Participant's will or the laws of
descent and distribution; and

(b)

if and to the extent that such Participant was entitled to exercise the Option at the date of his death.

13.

Rights
of Optionee

No
person entitled to exercise any option granted under the Plan shall have any of the rights or privileges of a shareholder of the
Corporation in respect of any Shares issuable upon exercise of such option until certificates representing such Shares shall have
been issued and delivered.

 

14.

Proceeds
from Sale of Shares

The
proceeds from the sale of Shares issued upon the exercise of options shall be added to the general funds of the Corporation and
shall thereafter be used from time to time for such corporate purposes as the Board may determine.

 

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15.

Adjustments

If
the outstanding common shares of the Corporation are increased, decreased, changed into or exchanged for a different number or
kind of shares or securities of the Corporation or another corporation or entity through re-organization, merger, re-capitalization,
re-classification, stock dividend, subdivision or consolidation, or any adjustment relating to the Shares optioned or issued on
exercise of options, or the exercise price per share as set forth in the respective stock option agreements, shall be adjusted
in accordance to the terms of such agreements.

 

Adjustments
under this Section shall be made by the Board whose determination as to what adjustments shall be made, and the extent thereof,
shall be final, binding and conclusive. No fractional Share shall be required to be issued under the Plan on any such adjustment.

 

16.

Transferability

All
benefits, rights and options accruing to any Participant in accordance with the terms and conditions of the Plan shall not be
transferable or assignable unless specifically provided herein or the extent, if any, permitted by the Exchange. During the lifetime
of a Participant any benefits, rights and options may only be exercised by the Participant.

 

17.

Amendment
and Termination of Plan

Subject
to applicable approval of the Exchange, the Board may, at any time, suspend or terminate the Plan. Subject to applicable approval
of the Exchange, the Board may also at any time amend or revise the terms of the Plan; provided that no such amendment or revision
shall result in a material adverse change to the terms of any options theretofore granted under the Plan, unless shareholder approval,
or Disinterested Shareholder Approval, as the case may be, is obtained for such amendment or revision.

 

18.

Necessary
Approvals

The
ability of a Participant to exercise options and the obligation of the Corporation to issue and deliver Shares in accordance with
the Plan is subject to any approvals, which may be required from shareholders of the Corporation and any regulatory authority
or stock exchange having jurisdiction over the securities of the Corporation. If any Shares cannot be issued to any Participant
for whatever reason, the obligation of the Corporation to issue such Shares shall terminate and any option exercise price paid
to the Corporation will be returned to the Participant.

 

Additionally,
the Corporation must obtain Disinterested Shareholder Approval to the grant of options if the Plan, together with all of the Corporation’s
previously established and outstanding stock option plans or grants, could result in:

 

(a)

the number of Shares reserved for issuance under options granted to insiders exceeding 10% of the issued Shares of the Corporation;
and

(b)

the grant to insiders, within a 12-month period, of a number of options exceeding 10% of the issued Shares at the date of grant.

19.

Interpretation

The
Plan will be governed by and construed in accordance with the laws of the State of Nevada.

 

MADE
by the Board of Directors of the Corporation as evidenced by the signature of the following director duly authorized in that
behalf effective the 24th day of June, 2016.

 

	 	VOIP-PAL.COM
    INC. 
	 	 
	 	Per:	“Dennis Chang”	 

 

 

    	 	4Exhibit 10.1

 

SECURITIES PURCHASE AGREEMENT

 

This SECURITIES
PURCHASE AGREEMENT (the “Agreement”), dated as of January 10, 2018, by and between Nightfood Holdings, Inc.,
a Nevada corporation, with headquarters located at 520 White Plains Road, Suite 500, Tarrytown, NY 10591, (the “Company”),
and EAGLE EQUITIES, LLC, a Nevada limited liability company, with its address at 91 Shelton Ave, Suite 107, New Haven, CT
06511 (the “Buyer”).

 

WHEREAS:

 

A.       The
Company and the Buyer are executing and delivering this Agreement in reliance upon the exemption from securities registration afforded
by the rules and regulations as promulgated by the United States Securities and Exchange Commission (the “SEC”) under
the Securities Act of 1933, as amended (the “1933 Act”);

 

B.       Buyer
desires to purchase and the Company desires to issue and sell, upon the terms and conditions set forth in this Agreement an 8%
convertible note of the Company, in the form attached hereto as Exhibit A in the aggregate principal amount of $110,000.00 (together
with any note(s) issued in replacement thereof or as a dividend thereon or otherwise with respect thereto in accordance with the
terms thereof, the “Note”), convertible into shares of common stock, of the Company (the “Common Stock”),
upon the terms and subject to the limitations and conditions set forth in such Note. The Note shall be paid for by the Buyer as
set forth herein.

 

C.       The
Buyer wishes to purchase, upon the terms and conditions stated in this Agreement, such principal amount of Note as is set forth
immediately below its name on the signature pages hereto; and

 

NOW THEREFORE,
the Company and the Buyer severally (and not jointly) hereby agree as follows:

 

1.       Purchase
and Sale of Note.

 

a.       Purchase
of Note. On each Closing Date (as defined below), the Company shall issue and sell to the Buyer and the Buyer agrees to purchase
from the Company such principal amount of Note as is set forth immediately below the Buyer’s name on the signature pages
hereto.

 

b.       Form
of Payment. On the Closing Date (as defined below), (i) the Buyer shall pay the purchase price for the Note to be issued and
sold to it at the Closing (as defined below) (the “Purchase Price”) by wire transfer of immediately available funds
to the Company, in accordance with the Company’s written wiring instructions, against delivery of the Note in the principal
amount equal to the Purchase Price as is set forth immediately below the Buyer’s name on the signature pages hereto, and
(ii) the Company shall deliver such duly executed Note on behalf of the Company, to the Buyer, against delivery of such Purchas
e Price.

 

_____

Company Initials

 

     

     

    

 

c.       Closing
Date. The date and time of the first issuance and sale of the Note pursuant to this Agreement (the “Closing Date”)
shall be on or about January 10, 2018, or such other mutually agreed upon time. The closing of the transactions contemplated by
this Agreement (the “Closing”) shall occur on the Closing Date at such location as may be agreed to by the parties.

 

2.       Buyer’s
Representations and Warranties. The Buyer represents and warrants to the Company that:

 

a.       Investment
Purpose. As of the date hereof, the Buyer is purchasing the Note and the shares of Common Stock issuable upon conversion of
or otherwise pursuant to the Note, such shares of Common Stock being collectively referred to herein as the “Conversion Shares”
and, collectively with the Note, the “Securities”) for its own account and not with a present view towards the public
sale or distribution thereof, except pursuant to sales registered or exempted from registration under the 1933 Act; provided,
however, that by making the representations herein, the Buyer does not agree to hold any of the Securities for any minimum
or other specific term and reserves the right to dispose of the Securities at any time in accordance with or pursuant to a registration
statement or an exemption under the 1933 Act.

 

b.       Accredited
Investor Status. The Buyer is an “accredited investor” as that term is defined in Rule 501(a) of Regulation D (an
“Accredited Investor”). Any of Buyer’s transferees, assignees, or purchasers must be “accredited investors”
in order to qualify as prospective transferees, permitted assignees in the case of Buyer’s or Holder’s transfer, assignment
or sale of the Note.

 

c.       Reliance
on Exemptions. The Buyer understands that the Securities are being offered and sold to it in reliance upon specific exemptions
from the registration requirements of United States federal and state securities laws and that the Company is relying upon the
truth and accuracy of, and the Buyer’s compliance with, the representations, warranties, agreements, acknowledgments and
understandings of the Buyer set forth herein in order to determine the availability of such exemptions and the eligibility of the
Buyer to acquire the Securities.

 

d.       Information.
The Buyer and its advisors, if any, have been, and for so long as the Note remain outstanding will continue to be, furnished with
all materials relating to the business, finances and operations of the Company and materials relating to the offer and sale of
the Securities which have been requested by the Buyer or its advisors. The Buyer and its advisors, if any, have been, and for so
long as the Note remain outstanding will continue to be, afforded the opportunity to ask questions of the Company. Notwithstanding
the foregoing, the Company has not disclosed to the Buyer any material nonpublic information and will not disclose such information
unless such information is disclosed to the public prior to or promptly following such disclosure to the Buyer. Neither such inquiries
nor any other due diligence investigation conducted by Buyer or any of its advisors or representatives shall modify, amend or affect
Buyer’s right to rely on the Company’s representations and warranties contained in Section 3 below. The Buyer understands
that its investment in the Securities involves a significant degree of risk. The Buyer is not aware of any facts that may constitute
a breach of any of the Company's representations and warranties made herein.

 

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e.       Governmental
Review. The Buyer understands that no United States federal or state agency or any other government or governmental agency
has passed upon or made any recommendation or endorsement of the Securities.

 

f.       Transfer
or Re-sale. The Buyer understands that (i) the sale or re-sale of the Securities has not been and is not being registered under
the 1933 Act or any applicable state securities laws, and the Securities may not be transferred unless (a) the Securities
are sold pursuant to an effective registration statement under the 1933 Act, (b) in the case of subparagraphs (c), (d) and
(e) below, the Buyer shall have delivered to the Company, at the cost of the Buyer, an opinion of counsel that shall be in form,
substance and scope customary for opinions of counsel in comparable transactions to the effect that the Securities to be sold or
transferred may be sold, or transferred pursuant to an exemption from such registration, including the removal of any restrictive
legend which opinion shall be accepted by the Company, (c) the Securities are sold or transferred to an “affiliate”
(as defined in Rule 144 promulgated under the 1933 Act (or a successor rule) (“Rule 144”) of the Buyer who agrees to
sell or otherwise transfer the Securities only in accordance with this Section 2(f) and who is an Accredited Investor, (d) the
Securities are sold pursuant to Rule 144, or (e) the Securities are sold pursuant to Regulation S under the 1933 Act (or a
successor rule) (“Regulation S”); (ii) any sale of such Securities made in reliance on Rule 144 may be made only in
accordance with the terms of said Rule and further, if said Rule is not applicable, any re-sale of such Securities under circumstances
in which the seller (or the person through whom the sale is made) may be deemed to be an underwriter (as that term is defined in
the 1933 Act) may require compliance with some other exemption under the 1933 Act or the rules and regulations of the SEC thereunder;
and (iii) neither the Company nor any other person is under any obligation to register such Securities under the 1933 Act or any
state securities laws or to comply with the terms and conditions of any exemption thereunder (in each case). Notwithstanding the
foregoing or anything else contained herein to the contrary, the Securities may be pledged as collateral in connection with a bona
fide margin account or other lending arrangement.

 

g.       Legends.
The Buyer understands that the Note and, until such time as the Conversion Shares have been registered under the 1933 Act will
be sold pursuant to Rule 144 or Regulation S without any restriction as to the number of securities as of a particular date that
can then be immediately sold, the Conversion Shares may bear a restrictive legend in substantially the following form (and a stop-transfer
order may be placed against transfer of the certificates for such Securities):

 

“NEITHER THE ISSUANCE AND SALE
OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE HAVE BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE,
SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE
FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING
THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT
SECURED BY THE SECURITIES.”

 

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The legend set forth
above shall be removed and the Company shall issue a certificate without such legend to the holder of any Security upon which it
is stamped, if, unless otherwise required by applicable state securities laws, (a) such Security is registered for sale under an
effective registration statement filed under the 1933 Act or otherwise may be sold pursuant to Rule 144 or Regulation S without
any restriction as to the number of securities as of a particular date that can then be immediately sold, and (b) such holder provides
the Company with an opinion of counsel, in form, substance and scope customary for opinions of counsel in comparable transactions,
to the effect that a public sale or transfer of such Security may be made without registration under the 1933 Act, and that legend
removal is appropriate, which opinion shall be accepted by the Company so that the sale or transfer is effected. The Buyer agrees
to sell all Securities, including those represented by a certificate(s) from which the legend has been removed, in compliance with
applicable prospectus delivery requirements, if any. In the event that the Company does not accept the opinion of counsel provided
by the Buyer with respect to the transfer of Securities pursuant to an exemption from registration, such as Rule 144 or Regulation
S, within 2 business days, it will be considered an Event of Default under the Note.

 

h.       Authorization;
Enforcement. This Agreement has been duly and validly authorized. This Agreement has been duly executed and delivered on behalf
of the Buyer, and this Agreement constitutes a valid and binding agreement of the Buyer enforceable in accordance with its terms.

 

i.        Residency.
The Buyer is a resident of the jurisdiction set forth immediately below the Buyer’s name on the signature pages hereto.

 

j.        No Short Sales.
Buyer/Holder, its successors and assigns, agrees that so long as the Note remains outstanding, neither the Buyer/Holder nor any
of its affiliates shall not enter into or effect “short sales” of the Common Stock or hedging transaction which establishes
a short position with respect to the Common Stock of the Company. The Company acknowledges and agrees that upon delivery of a Conversion
Notice by the Buyer/Holder, the Buyer/Holder immediately owns the shares of Common Stock described in the Conversion Notice and
any sale of those shares issuable under such Conversion Notice would not be considered short sales.

 

3.       Representations
and Warranties of the Company. The Company represents and warrants to the Buyer that:

 

a.       Organization
and Qualification. The Company and each of its subsidiaries, if any, is a corporation duly organized, validly existing and
in good standing under the laws of the jurisdiction in which it is incorporated, with full power and authority (corporate and other)
to own, lease, use and operate its properties and to carry on its business as and where now owned, leased, used, operated and conducted.

 

    	 	4	 

     

    

 

b.       Authorization;
Enforcement. (i) The Company has all requisite corporate power and authority to enter into and perform this Agreement, the
Note and to consummate the transactions contemplated hereby and thereby and to issue the Securities, in accordance with the terms
hereof and thereof, (ii) the execution and delivery of this Agreement, the Note by the Company and the consummation by it of the
transactions contemplated hereby and thereby (including without limitation, the issuance of the Note and the issuance and reservation
for issuance of the Conversion Shares issuable upon conversion or exercise thereof) have been duly authorized by the Company’s
Board of Directors and no further consent or authorization of the Company, its Board of Directors, or its shareholders is required,
(iii) this Agreement has been duly executed and delivered by the Company by its authorized representative, and such authorized
representative is the true and official representative with authority to sign this Agreement and the other documents executed in
connection herewith and bind the Company accordingly, and (iv) this Agreement constitutes, and upon execution and delivery by the
Company of the Note, each of such instruments will constitute, a legal, valid and binding obligation of the Company enforceable
against the Company in accordance with its terms.

 

c.       Issuance
of Shares. The Conversion Shares are duly authorized and reserved for issuance and, upon conversion of the Note in accordance
with its respective terms, will be validly issued, fully paid and non-assessable, and free from all taxes, liens, claims and encumbrances
with respect to the issue thereof and shall not be subject to preemptive rights or other similar rights of shareholders of the
Company and will not impose personal liability upon the holder thereof.

 

d.       Acknowledgment
of Dilution. The Company understands and acknowledges the potentially dilutive effect to the Common Stock upon the issuance
of the Conversion Shares upon conversion of the Note. The Company further acknowledges that its obligation to issue Conversion
Shares upon conversion of the Note in accordance with this Agreement, the Note is absolute and unconditional regardless of the
dilutive effect that such issuance may have on the ownership interests of other shareholders of the Company.

 

e.       No
Conflicts. The execution, delivery and performance of this Agreement, the Note by the Company and the consummation by the Company
of the transactions contemplated hereby and thereby (including, without limitation, the issuance and reservation for issuance of
the Conversion Shares) will not (i) conflict with or result in a violation of any provision of the Certificate of Incorporation
or By-laws, or (ii) violate or conflict with, or result in a breach of any provision of, or constitute a default (or an event which
with notice or lapse of time or both could become a default) under, or give to others any rights of termination, amendment, acceleration
or cancellation of, any agreement, indenture, patent, patent license or instrument to which the Company or any of its Subsidiaries
is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including federal and state
securities laws and regulations and regulations of any self-regulatory organizations to which the Company or its securities are
subject) applicable to the Company or any of its Subsidiaries or by which any property or asset of the Company or any of its Subsidiaries
is bound or affected (except for such conflicts, defaults, terminations, amendments, accelerations, cancellations and violations
as would not, individually or in the aggregate, have a Material Adverse Effect). All consents, authorizations, orders, filings
and registrations which the Company is required to obtain pursuant to the preceding sentence have been obtained or effected on
or prior to the date hereof. The Company is not in violation of the listing requirements of the OTC Markets Exchange (the “OTC
MARKETS”) and does not reasonably anticipate that the Common Stock will be delisted by the OTC MARKETS in the foreseeable
future, nor are the Company’s securities “chilled” by FINRA. The Company and its Subsidiaries are unaware of
any facts or circumstances which might give rise to any of the foregoing.

 

    	 	5	 

     

    

 

f.       Absence
of Litigation. Except as disclosed in the Company’s Periodic Report filings with the SEC, there is no action, suit, claim,
proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body
pending or, to the knowledge of the Company or any of its subsidiaries, threatened against or affecting the Company or any of its
subsidiaries, or their officers or directors in their capacity as such, that could have a material adverse effect. Schedule 3(f)
contains a complete list and summary description of any pending or, to the knowledge of the Company, threatened proceeding against
or affecting the Company or any of its subsidiaries, without regard to whether it would have a material adverse effect. The Company
and its subsidiaries are unaware of any facts or circumstances which might give rise to any of the foregoing.

 

g.       Acknowledgment
Regarding Buyer’ Purchase of Securities. The Company acknowledges and agrees that the Buyer is acting solely in the capacity
of arm’s length purchasers with respect to this Agreement and the transactions contemplated hereby. The Company further acknowledges
that the Buyer is not acting as a financial advisor or fiduciary of the Company (or in any similar capacity) with respect to this
Agreement and the transactions contemplated hereby and any statement made by the Buyer or any of its respective representatives
or agents in connection with this Agreement and the transactions contemplated hereby is not advice or a recommendation and is merely
incidental to the Buyer’ purchase of the Securities. The Company further represents to the Buyer that the Company’s
decision to enter into this Agreement has been based solely on the independent evaluation of the Company and its representatives.

 

h.       No
Integrated Offering. Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf, has directly
or indirectly made any offers or sales in any security or solicited any offers to buy any security under circumstances that would
require registration under the 1933 Act of the issuance of the Securities to the Buyer.

 

i.       Title
to Property. The Company and its subsidiaries have good and marketable title in fee simple to all real property and good and
marketable title to all personal property owned by them which is material to the business of the Company and its subsidiaries,
in each case free and clear of all liens, encumbrances and defects except such as are described in Schedule 3(i) or such as would
not have a material adverse effect. Any real property and facilities held under lease by the Company and its subsidiaries are held
by them under valid, subsisting and enforceable leases with such exceptions as would not have a material adverse effect.

 

j.       Bad
Actor. No officer or director of the Company would be disqualified under Rule 506(d) of the Securities Act as amended on the
basis of being a "bad actor" as that term is established in the September 19, 2013 Small Entity Compliance Guide
published by the Securities and Exchange Commission.

 

k.       Breach
of Representations and Warranties by the Company. If the Company breaches any of the representations or warranties set forth
in this Section 3, and in addition to any other remedies available to the Buyer pursuant to this Agreement, it will be considered
an Event of default under the Note.

 

    	 	6	 

     

    

 

4.       COVENANTS.

 

a.       Expenses.
At the Closing, the Company shall reimburse Buyer for expenses incurred by them in connection with the negotiation, preparation,
execution, delivery and performance of this Agreement and the other agreements to be executed in connection herewith (“Documents”),
including, without limitation, reasonable attorneys’ and consultants’ fees and expenses, transfer agent fees, fees
for stock quotation services, fees relating to any amendments or modifications of the Documents or any consents or waivers of provisions
in the Documents, fees for the preparation of opinions of counsel, escrow fees, and costs of restructuring the transactions contemplated
by the Documents. When possible, the Company must pay these fees directly, otherwise the Company must make immediate payment for
reimbursement to the Buyer for all fees and expenses immediately upon written notice by the Buyer or the submission of an invoice
by the Buyer.

 

b.       Listing.
The Company shall promptly secure the listing of the Conversion Shares upon each national securities exchange or automated quotation
system, if any, upon which shares of Common Stock are then listed (subject to official notice of issuance) and, so long as the
Buyer owns any of the Note Securities, shall maintain, so long as any other shares of Common Stock shall be so listed, such listing
of all Conversion Shares from time to time issuable upon conversion of the Note. The Company will obtain and, so long as the Buyer
owns any of the Securities, maintain the listing and trading of its Common Stock on the OTC MARKETS or any equivalent replacement
market, the Nasdaq stock market (“Nasdaq”), or the New York Stock Exchange (“NYSE”), and will comply in
all respects with the Company’s reporting, filing and other obligations under the bylaws or rules of the Financial Industry
Regulatory Authority (“FINRA”) and such exchanges, as applicable. The Company shall promptly provide to the Buyer copies
of any notices it receives from the OTC MARKETS and any other markets on which the Common Stock is then listed regarding the continued
eligibility of the Common Stock for listing on such markets.

 

c.       Corporate
Existence. So long as the Buyer beneficially owns the Note, the Company shall maintain its corporate existence and shall not
sell all or substantially all of the Company’s assets, except in the event of a merger or consolidation or sale of all or
substantially all of the Company’s assets, where the surviving or successor entity in such transaction (i) assumes the Company’s
obligations hereunder and under the agreements and instruments entered into in connection herewith and (ii) is a publicly traded
corporation whose Common Stock is listed for trading on the OTC MARKETS, Nasdaq or NYSE.

 

d.       No
Integration. The Company shall not make any offers or sales of any security (other than the Securities) under circumstances
that would require registration of the Securities being offered or sold hereunder under the 1933 Act or cause the offering of the
Securities to be integrated with any other offering of securities by the Company for the purpose of any stockholder approval provision
applicable to the Company or its securities.

 

e.       Breach
of Covenants. If the Company breaches any of the covenants set forth in this Section 4, and in addition to any other remedies
available to the Buyer pursuant to this Agreement, it will be considered an event of default under the Note.

 

    	 	7	 

     

    

 

5.       Governing
Law; Miscellaneous.

 

a.       Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada without regard to
principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated
by this Agreement shall be brought only in the state courts of New York or in the federal courts located in the state and county
of New York. The parties to this Agreement hereby irrevocably waive any objection to jurisdiction and venue of any action instituted
hereunder and shall not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens. The
Company and Buyer waive trial by jury. The prevailing party shall be entitled to recover from the other party its reasonable attorney's
fees and costs. In the event that any provision of this Agreement or any other agreement delivered in connection herewith is invalid
or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that
it may conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any such provision which may
prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision of any agreement.
Each party hereby irrevocably waives personal service of process and consents to process being served in any suit, action or proceeding
in connection with this Agreement or any other Transaction Document by mailing a copy thereof via registered or certified mail
or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement
and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein
shall be deemed to limit in any way any right to serve process in any other manner permitted by law.

 

b.       Counterparts;
Signatures by Facsimile. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original
but all of which shall constitute one and the same agreement and shall become effective when counterparts have been signed by each
party and delivered to the other party. This Agreement, once executed by a party, may be delivered to the other party hereto by
facsimile transmission of a copy of this Agreement bearing the signature of the party so delivering this Agreement.

 

c.       Headings.
The headings of this Agreement are for convenience of reference only and shall not form part of, or affect the interpretation of,
this Agreement.

 

d.       Severability.
In the event that any provision of this Agreement is invalid or unenforceable under any applicable statute or rule of law, then
such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform
with such statute or rule of law. Any provision hereof which may prove invalid or unenforceable under any law shall not affect
the validity or enforceability of any other provision hereof.

 

e.       Entire
Agreement; Amendments. This Agreement and the instruments referenced herein contain the entire understanding of the parties
with respect to the matters covered herein and therein and, except as specifically set forth herein or therein, neither the Company
nor the Buyer makes any representation, warranty, covenant or undertaking with respect to such matters. No provision of this Agreement
may be waived or amended other than by an instrument in writing signed by the majority in interest of the Buyer.

 

    	 	8	 

     

    

 

f.       Notices.
All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing
and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return
receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, (iv) via electronic
mail or (v) transmitted by hand delivery, telegram, or facsimile, addressed as set forth below or to such other address as such
party shall have specified most recently by written notice. Any notice or other communication required or permitted to be given
hereunder shall be deemed effective (a) upon hand delivery or delivery by facsimile, with accurate confirmation generated by the
transmitting facsimile machine, at the address or number designated below (if delivered on a business day during normal business
hours where such notice is to be received) or delivery via electronic mail, or the first business day following such delivery (if
delivered other than on a business day during normal business hours where such notice is to be received) or (b) on the second business
day following the date of mailing by express courier service, fully prepaid, addressed to such address, or upon actual receipt
of such mailing, whichever shall first occur. The addresses for such communications shall be:

 

If to the
Company, to:

Nightfood
Holdings, Inc.

520 White
Plains Road, Suite 500

Tarrytown,
NY 10591

Attn: Sean
Folkson, CEO

 

And

 

Frank J. Hariton, Esq.

1065 Dobbs Ferry Road

White Plains,
New York 10607

 

If to the Buyer:

EAGLE EQUITIES, LLC

91 Shelton
Ave, Suite 107

New Haven,
CT 06511

Attn: Yakov
Borenstein

 

Each party shall provide
notice to the other party of any change in address.

 

g.       Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and assigns.
Neither the Company nor the Buyer shall assign this Agreement or any rights or obligations hereunder without the prior written
consent of the other. Notwithstanding the foregoing, the Buyer may assign its rights hereunder to any “qualified person”,
any “permitted assigns”, or “prospective transferee” that acquires or purchases Note Securities in a private
transaction from the Buyer or to any of its “affiliates,” as that term is defined under the 1934 Act, without the consent
of the Company with Buyer’s Opinion of Counsel. A qualified person is an “accredited investor” transferee, assignee,
or purchaser of the Note who succeeds to the Holder’s right, title and interest to all or a portion of the Note accompanied
with an Opinion of Counsel as provided for in Section 2(f).

 

    	 	9	 

     

    

 

h.       Third
Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted successors
and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person.

 

i.       Survival.
The representations and warranties of the Company and the agreements and covenants set forth in this Agreement shall survive the
closing hereunder notwithstanding any due diligence investigation conducted by or on behalf of the Buyer. The Company agrees to
indemnify and hold harmless the Buyer and all their officers, directors, employees and agents for loss or damage arising as a result
of or related to any breach or alleged breach by the Company of any of its representations, warranties and covenants set forth
in this Agreement or any of its covenants and obligations under this Agreement, including advancement of expenses as they are incurred.

 

j.       Further
Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall
execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request
in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated
hereby.

 

k.       No
Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express
their mutual intent, and no rules of strict construction will be applied against any party.

 

l.       Remedies.
The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Buyer by vitiating
the intent and purpose of the transaction contemplated hereby. Accordingly, the Company acknowledges that the remedy at law for
a breach of its obligations under this Agreement will be inadequate and agrees, in the event of a breach or threatened breach by
the Company of the provisions of this Agreement, that the Buyer shall be entitled, in addition to all other available remedies
at law or in equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining, preventing
or curing any breach of this Agreement and to enforce specifically the terms and provisions hereof, without the necessity of showing
economic loss and without any bond or other security being required.

 

    	 	10	 

     

    

 

IN WITNESS WHEREOF, the undersigned Buyer and the Company have caused this Agreement to be duly executed as of the date first above
written.

 

	NIGHTFOOD HOLDINGS, INC.	 
	 	 	 
	By:	 	 
	Name:	Sean Folkson, CEO	 
	 	 	 
	EAGLE EQUITIES, LLC	 
	 	 	 
	By:	 	 
	Name: 	Yakov Borenstein	 
	Title:	Manager	 

 

	AGGREGATE SUBSCRIPTION AMOUNT:	 	$	110,000.00	 
	 	 	 	 	 
	Principal Amount of Note:	 	 	 	 
	 	 	 	 	 
	Aggregate Purchase Price:	 	 	 	 

 

Note 1: $110,000.00, less $4,673.97 in legal fees

 

    	 	11	 

     

    

 

EXHIBIT A

144 NOTE - $110,000

 

    	 	12

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